ABM Industries Annual Report 2024

FY2024 Annual Report · ABM Industries
Loading PDF…
Annual Report
2024


Dear Stockholders, 
I am proud to share ABM’s journey of growth, achievements, and transformation during fiscal year 
2024. Despite a dynamic macroeconomic environment, including a challenging commercial real 
estate market, ABM demonstrated resilience and delivered signiƱcant accomplishments. @uided 
by our mission—making a diƯerence every person, every day—we continued to create value for our 
clients, team members, and stockholders. 
2024 Financial and Operational Performance 
This year, ABM achieved 3.2% total revenue growth, including 2.9% organic growth, reaching $8.4 
billion in annual revenue. Highlights included double-digit revenue increases in our Technical 
Solutions and Aviation segments, showcasing the strength of our strategic focus and investments in 
innovation. Adjusted earnings exceeded our expectations heading into the year, as disciplined cost 
management and operational eƯiciencies mitigated challenges such as labor inƲation and 
commercial real estate softness. 
Segment Highlights 
x 
Business & Industry: Despite tough markets, our Business & Industry segment performed 
well, driven by the strong growth of our United Kingdom business, the expansion of our 
Sports & Entertainment business, and the resilience of our parking operations. Investments 
in tools like Workforce Productivity Optimization helped to increase labor eƯiciency, 
beneƱting proƱtability. 
x 
Manufacturing & Distribution: Rebalancing and planned customer exits presented 
challenges to growth within our Manufacturing & Distribution segment, but we overcame 
them by strengthening relationships with existing clients and securing new business. These 
achievements highlight the resilience of our served markets and the value we consistently 
deliver. 
x 
Technical Solutions: Leading in revenue growth, our Technical Solutions segment 
beneƱted from rapid microgrid expansion and data center-related activities, including a 
recent acŗuisition. The Raven«olt team executed complex projects and secured signiƱcant 
new business, positioning us well for future growth. 
x 
Aviation: Strong domestic and international travel markets, combined with our purpose-
built, ArtiƱcial Intelligence-based ABM Clean tool, drove growth in our Aviation segment. 
This industry-leading tool enables us to enhance maintenance and traveler experiences, 
while boosting our clients’ ability to drive traƯic and revenue. 
x 
Education: Our Education segment delivered steady growth, fueled by the increased 
adoption of ABM Performance Solutions. This oƯering improved client satisfaction and 
demonstrated our ability to provide exceptional value to school districts, colleges, and 
universities. 
 
 

Advancing Strategic Initiatives 
In 2͏24, we made signiƱcant progress on our ELE«ATE strategy, aimed at redeƱning facilities 
management: 
x 
Migrating the Education segment to a cloud-based Enterprise Resource Planning system 
and initiating similar transitions for the Business & Industry and Manufacturing & 
Distribution segments. 
x 
Developing an ArtiƱcial Intelligence investment roadmap to help identify revenue 
opportunities, streamline RFP responses, and enhance employee experiences. 
x 
Acquiring Quality Uptime Services to strengthen our data center capabilities, including 
uninterrupted power supply systems and battery maintenance. 
Commitment to Stockholders 
We maintained a disciplined approach to capital allocation, repurchasing $56 million in stock, and 
subsequent to year-end, raising our annual dividend by 18%, extending our record to 58 
consecutive years of dividend growth. Our Corporate Responsibility Report detailed progress in 
reducing our environmental impact, enhancing team member experiences, and supporting 
communities. This earned us recognition as one of Newsweek’s Most Responsible Companies. 
Looking Ahead to 2025 
We enter Ʊscal 2͏25 with optimism and a clear vision for growth. In our Business & Industry 
segment, the slow but steady recovery of commercial real estate signals a potential return to 
growth later in the year. Meanwhile, robust activity in Manufacturing & Distribution, particularly 
within the semiconductor and data center verticals, positions us well for long-term success. 
Our $500 million backlog highlights Technical Solutions as a growth driver, supported by the 
expected Ʊvefold expansion of the U.S. microgrid market over the next decade. We expect Aviation 
to beneƱt from increasing passenger volumes and infrastructure investments, while Education 
remains a stable foundation for earnings and cash Ʋow. These dynamics reinforce our conƱdence 
in delivering growth and shareholder value in 2025. 
A Final Note of Gratitude 
To our approximately 125,000 team members, thank you for your dedication, innovation, and 
resilience, which made 2024 a remarkable year. To our stockholders, your trust and support enable 
ABM to thrive in an ever-evolving marketplace. Together, we are building a stronger ABM, ready to 
lead in a dynamic future. 
We look forward to another year of growth, innovation, and positive impact in 2025. 
Sincerely, 
 
Scott Salmirs 
President and Chief Executive OƯicer 

	

	
	


 

66666666666666666666666666
$'" 
&7HA(D;

##*! '%$') %*'(*#) )$ ()$#  $' 5 $ ) (*')(
-#)$
@CE967:D42=J62C6?565$4E@36C


EH

)'#()$#'%$')%*'(*#))$()$#$'5$)(*')(
-#)$
@CE96EC2?D:E:@?A6C:@57C@>E@
@>>:DD:@?:=6#F>36C

"#*()'(#$'%$')
N79JD7C;E7HJ;H
6=2H2C6

,J7J;EHEJ>;H@KH?I:?9J?EDE<
?D9EHFEH7J?EDEHEH=7D?P7J?ED
"+,CFBEO;H
":;DJ?ED;DKC8;H
?D9BK:?D=7H;79E:;
666666666666666666
,;9KH?J?;IH;=?IJ;H;:FKHIK7DJJE,;9J?ED8E;9J
-?JB;E<;79>9B7II
-H7:?D=,OC8EB
'7C;E<;79>;N9>7D=;EDM>?9>H;=?IJ;H;:
@>>@?(E@4<	A2CG2=F6
"
#6H.@C<(E@4<I492?86
66666666666666666666666666
,;9KH?J?;IH;=?IJ;H;:FKHIK7DJJE,;9J?ED=E;9J'ED;

"D:?97J;8O9>;9AC7HA?;H;=?IJH7DJ?I7M;BBADEMDI;7IED;:?IIK;H
7I:;;,;9KH?J?;I
9J2;I 'E
"D:?97J;8O9>;9AC7HA?;H;=?IJH7DJ?IDEJH;GK?H;:JE;
9J2;I
'E
"D:?97J;8O9>;9AC7HAM>;J>;HJ>;H;=?IJH7DJ>7I;,;9KH?J?;IN9>7D=;9JE<:KH?D=J>;FH;9;:?D=CEDJ>IEHI>EHJ;HF;H?E:J>7JJ>;H;=?IJH7DJ
M7I H;GK?H;: JE  H;FEHJI
 7D:  >7I 8;;D IK8@;9J JE IK9> ; F7IJ 
:7OI2;I'E
"D:?97J;8O9>;9AC7HAM>;J>;HJ>;H;=?IJH7DJ>7IIK8C?JJ;:;B;9JHED?97BBO;L;HO"DJ;H79J?L;7J7?B;H;GK?H;:JE8;
IK8C?JJ;:FKHIK7DJJE+KB;E<+;=KB7J?ED,-QE?I9>7FJ;H:KH?D=J>;FH;9;:?D=CEDJ>IEHI>EHJ;HF;H?E:J>7JJ>;H;=?IJH7DJM7IH;GK?H;:JEIK8C?JIK9>;9AC7HAM>;J>;HJ>;H;=?IJH7DJ?I7B7H=;799;B;H7J;:9ECF7DO,;;J>;:;9ECF7DOX?D+KB;8E;N9>7D=;9J
%7H=;799;B;H7J;:

9ECF7DO

"< 7D ;C;H=?D= =HEMJ> 9ECF7DO
 ?D:?97J; 8O 9>;9A C7HA ?< J>; H;=?IJH7DJ >7I ;B;9J;: DEJ JE KI; J>; ;NJ;D:;:
JH7DI?J?EDF;H?E:7DOD;MEHH;L?I;:;N9>7D=;9J
"D:?97J;8O9>;9AC7HAM>;J>;HJ>;H;=?IJH7DJ>7I;;<<;9J?L;D;IIE;,7H87D;I(NB;O9J
.,88OJ>;H;=?IJ;H;:FK8B?9799EKDJ?D=7JFH;F7H;:EH?IIK;:?JI7K:?JH;FEHJ
"< I;9KH?J?;I 7H; H;=?IJ;H;: FKHIK7DJ JE ,;9J?ED 8 E< J>; 9J
 ?D:?97J; 8O 9>;9A C7HA M>;J>;H J>; ; H;=?IJH7DJ ?D9BK:;: ?D J>; ; 9EHH;9J?ED E< 7D ;HHEH JE FH;L?EKIBO ?IIK;: ;9AC7HAM>;J>;H7DOEEI;;HHEH9EHH;9J?EDI7H;H;IJ7J;C;DJIJ>7JH;GK?H;:7H;9EL;HO7D7BOI?IE<
?D9;DJ?L;87I;: 9ECF;DI7J?ED H;9;?L;: 8O 7DO E< J>; H;=?IJH7DJI ;N;9KJ?L; E<; H;B;L7DJ H;9EL;HO
F;H?E:FKHIK7DJJEQ8
"D:?97J;8O9>;9AC7HAM>;J>;HJ>;H;=?IJH7DJ?I7I>;BB9ECF7DO7I:;;9J2;I
'E
==H;=7J;C7HA;JL7BK;E;H;=?IJH7DJVI9ECCEDIJE9A>;B:8ODED7<;H;=?IJH7DJ
87I;:KFEDJ>;
9BEI?D=FH?9;E<7I>7H;E;H;=?IJH7DJVI9ECCEDIJE9AEDFH?B

7IH;FEHJ;:EDJ>;';M2EHA,JE9A
N9>7D=;EDJ>7J:7J;



'KC8;HE7H;IE;H;=?IJH7DJVI9ECCEDIJE9AEKJIJ7D:?D=7IE<;9;C8;H



66666666666666666666666666666666666666666666666
$*"#)(#$'%$').''#
;HJ7?D F7HJI E< J>; H;=?IJH7DJVI ;; H;=?IJH7DJVI  DDK7B &;;J?D= E<
,JE9A>EB:;HI 7H; ?D9EHFEH7J;: 8O H;<;H;D9; ?DJE )7HJ """ E< J>?I DDK7B +;FEHJ ED EHC $

"#*()'(#$'%$')#(*('(
)!$$#)#)(
$','!$$ #())"#)(

%')

"J;CKI?D;II

"J;C+?IA79JEHI

"J;C.DH;IEBL;:,J7<<ECC;DJI

"J;CO8;HI;9KH?JO

"J;C)HEF;HJ?;I

"J;C%;=7B)HE9;;:?D=I

"J;C&?D;,7<;JO?I9BEIKH;I

%')

"J;C&7HA;JEB:;H&7JJ;HI
7D:"IIK;H)KH9>7I;IE<GK?JO,;9KH?J?;I

"J;C4+;I;HL;:5

"J;C&7D7=;C;DJVI?I9KII?ED7D:D7BOI?IE<?D7D9?7BED:?J?ED7D:+;IKBJIE<(F;H7J?EDI

"J;C*K7DJ?J7J?L;7D:*K7B?J7J?L;?I9BEIKH;I8EKJ&7HA;J+?IA

"J;C?D7D9?7B,J7J;C;DJI7D:,KFFB;C;DJ7HO7J7

"J;C>7D=;I?D7D:?I7=H;;C;DJIM?J>99EKDJ7DJIED99EKDJ?D=7D:?D7D9?7B?I9BEIKH;

"J;CEDJHEBI7D:)HE9;:KH;I

"J;C(J>;H"D7J)H;L;DJ"DIF;9J?EDI

%')

"J;C?H;9JEHI
N;9KJ?L;(<?FE<;HJ7?D;D;EB:;H&7JJ;HI

"J;C;HJ7?D+;B7J?EDI>?FI7D:+;B7J;:-H7DI79J?EDI
7D:?H;9JEH"D:;F;D:;D9;

"J;C)H?D9?F7B99EKDJ?D=;;I7D:,;HL?9;I

%')+

"J;CN>?8?JI
?D7D9?7B,J7J;C;DJ,9>;:KB;I

(#)*'(


[This page intentionally left blank] 

$','!$$ #())"#)(
->?IDDK7B+;FEHJEDEHC$;WECF7DOX9EDJ7?DI8EJ>>?IJEH?97B7D:?DJ>;
C;7D?D= E< J>; )H?L7J; ,;9KH?J?;I %?J?=7J?ED +;7J ?DLEBL; H?IAI 7D: KD9;HJ7?DJ?;I 0; C7A;
7J7H;KD9;HJ7?D7D:E 7I W7DJ?9?F7J;
X W8;B?;L;
X W9EKB:
X W;IJ?C7J;
X W;NF;9J
X WEKB:
X WJ7H=;J
X EH EJ>;H I?C?B7H MEH:I EH F>H7I;I ->;I; IJ7J;C;DJI 7H; DEJ
=K7H7DJ;;IE<7J
7H;:?<7JC?=>J97KI;IK9>:?<<;H;D9;I?D9BK:;
8KJ7H;DEJB?C?J;:JE
J>EI;:?I9KII;:?D
)7HJ  E< J>?I EHC $ KD:;H "J;C 
 W+?IA 79JEHI
X 7D: M; KH=; H;7:;HI JE 9EDI?:;H J>;I; H?IAI 7D:
KD9;HJ7?DJ?;I?D;L7BK7J?D=EKH?9>IF;7AEDBO7IE;:7J;C7:;0;KD:;HJ7A;DEE8B?=7J?EDJEFK8B?9BO
KF:7J;7DO;J>;H7I7H;IKBJE;HM?I;
;N9;FJ
7IH;GK?H;:8OB7M


%')
)"	*(#((	
6?6C2=
& "D:KIJH?;I "D9EHFEH7J;:
 M>?9> EF;H7J;I J>HEK=> ?JI IK8I?:?7H?;I 9EBB;9J?L;BO H;<;HH;: JE 7I W&
X
WM;
XWKI
XWEKH
XEHJ>;WECF7DOX
?I7B;7:?D=FHEL?:;HE7C?II?EDJE>2<625:776C6?466G6CJA6CD@?6G6CJ52J(KH>?IJEHO:7J;I879AJE
M>;DC;H?97D
K?B:?D= &7?DJ;D7D9; ECF7DO 8;=7D 7I 7 M?D:EM M7I>?D= 9ECF7DO ?D ,7D H7D9?I9E M?J> ED; ;CFBEO;; "D

M;M;H;?D9EHFEH7J;:?D;B7M7H;KD:;HJ>;D7C;C;H?97DK?B:?D=&7?DJ;D7D9;"D:KIJH?;I
"D9
7IJ>;
IK99;IIEH JE J>; 8KI?D;II EH?=?D7BBO 7D=;: EKH D7C; JE & "D:KIJH?;I
"D9EHFEH7J;: ,?D9; J>7J J?C;
 M; >7L; =HEMD ?DJE 7 CKBJ?I;=C;DJ <79?B?JO IEBKJ?EDI 9ECF7DO
 FH?C7H?BO J>HEK=>
IJH7J;=?979GK?I?J?EDI7D:D;MI;HL?9;E<<;H?D=I
?D9H;7I?D=EKHH;L;DK;JECEH;J>7D8?BB?ED
->; 79GK?I?J?EDI E< (D;,EKH9; 7D: %?D9  HEKF ?D J>; ;7HBO I ;IJ78B?I>;:& 7I 7 B;7:;H ?D J>;
9ECC;H9?7B@7D?JEH?7BC7HA;J7D:7BIE;D>7D9;:EKH78?B?JOJE8;7D;M
I;HL?9; E<<;H?D=I
 ?D9BK:?D= B?=>J?D=
 C;9>7D?97B
 7D: ;B;9JH?97B WJ;9>D?97B IEBKJ?EDIX 0?J> :;C7D: ?D9H;7I?D= ;79GK?I?J?EDE<?H,;HL;IJ78B?I>;:WL?7J?EDX7IEKH7L;IJH7J;=?97BBO79GK?H;:9ECF7D?;I?DJ>;.D?J;:$?D=:ECW.$X7D:J>;+;FK8B?9E<"H;B7D:
W"H;B7D:X
M>?9>;NF7D:;:EKH@7D?JEH?7B7D:J;9>D?97BIEBKJ?EDI8KI?D;II;IEL;HI;7I
"D
M;8;=7D79ECFH;>;DI?L;JH7DI J>HEK=> 7D ?D:KIJHO87I;:
 =EJEC7HA;J 7FFHE79> ->HEK=> J>?I ?D?J?7J?L;
 M; 9;DJH7B?P;: A;O ;D;:EKHI7B;I97F78?B?J?;I
7D:?D?J?7J;:?DL;IJC;DJI?DI;HL?9;:;B?L;HOJEEBI
7D:FHE9;II;IJE>;BFIKFFEHJIJ7D:7H:EF;H7J?D=FH79J?9;IJ>7JM;8;B?;L;H;C7?D;JH7DI?9>:?:DEJ7B?=DM?J>EKHBED=J;HC; B7H=;IJ 79GK?I?J?ED ?D&
>?IJEHO->;79GK?I?J?ED799;B;H7J;:J>;ECF7DOVIFEI?J?ED7I7B;7:?D=<79?B?JOIEBKJ?EDIFHEL?:;H?DJ>;;:K97J?ED
C7HA;J


"D 
 M; 79GK?H;: HEMD K?B:?D= &7?DJ;D7D9; E 7D: HEMD D;H=O ,;HL?9;I
 "D9 9EBB;9J?L;BO

W8B;X
7B;7:?D=<79?B?J?;II;HL?9;I9ECF7DO>;7:GK7HJ;H;:?D,7DH7D9?I9E
7B?J>;=E7BJEFHEL?:;
7::?J?ED7B I97B?D= JE J>; ECF7DOVI 9EH; 8KI?D;II;I 7D: A;O =;E=H7F>?;I 7D: 8EBIJ;H?D= &VI @7D?JEH?7B 7D:
<79?B?J?;II;HL?9;II;HL?9;B?D;I"D7::?J?ED
J>;79GK?I?J?EDE<8B;;H;NF7D:;:&VIIKIJ7?D78?B?JO7D:;D;H=O
;<D?97B,EBKJ?EDII;HL?9;E<<;H?D=I
J>;7::?J?EDE<+7L;D/EBJ
;D>7D9;:&VIFEI?J?ED7I7C7HA;JB;7:;H?D;B;9JH?9L;>?9B;W/X9>7H=?D=?D;HD "H;B7D: ->; 7::?J?ED E< &EC;DJKC FHEL?:;: =H;7J;H 799;II JE
&EC;DJKCVI8BK;9>?F9KIJEC;H87I;7IM;BB7I7DEFFEHJKD?JOJE9HEIII;BB&I;HL?9;IJE;N?IJ?D=.,7D:
.$87I;:9B?;DJIM>E7BIE>7L;7DEF;H7J?ED7B;HD"H;B7D:
"D
M;79GK?H;:*K7B?JO.FJ?C;,;HL?9;I
"D9W*K7B?JO.FJ?C;X
7D?D:;F;D:;DJKD?DJ;HHKFJ;:FEM;H
IKFFBOIOIJ;CW.),XC7?DJ;D7D9;9ECF7DOFHEL?:?D=9KIJEC?P;:FH;L;DJ?L;7D:;C;H=;D9OI;HL?9;FHE=H7CI
;H<79?B?J?;I79HEIIJ>;.D?J;:,J7J;I0?J>J>;7::?J?EDE<*K7B?JO.FJ?C;
M;
M?BB E<<;H 9ECFH;>;DI?L; 7D: 9ECFB;C;DJ7HO 9H?J?97B ?D=;7H C7?DJ;D7D9;
 8H;7A;H J;IJ?D=
 .), I;HL?9; 7D:
C7?DJ;D7D9;
7D:87JJ;HO7D:FEM;H:?IJH?8KJ?EDKD?JI;HL?9;7D:C7?DJ;D7D9;
->;78EL;79GK?I?J?EDI7D::?L;IJ?JKH;IM;VL;C7:;I?D9;B7H=;BOH;;:IJH7J;=?9FB7D97BB;:!+)
M>?9>M7I?DJHE:K9;:?D7D:?I:;I9H?8;:8;BEM
I7H;IKBJE;I;IJH7J;=?9?D?J?7J?L;I7D:?DL;IJC;DJI
M;>7L;IJH;D=J>;D;:EKH78?B?JOJEE<<;H@7D?JEH?7B

;D=?D;;H?D=
F7HA?D=7D:;&E8?B?JO
?DJ?D=7D:;D;H=OIEBKJ?EDI
!/7D:C;9>7D?97B
I;HL?9;I
B7D:I97F?D=7D:JKH7L; FEI?J?ED;:
EKHI;BL;I7I7B;7:?D=?DJ;=H7J;:<79?B?J?;IC7D7=;C;DJ9ECF7DO
.DB;IIEJ>;HM?I;?D:?97J;:
7BBH;<;H;D9;IJEO;7HI7H;JEEKH?9>;D:IED(9JE8;H
@CH2C5!@@<:?8(EC2E68:4%=2?
%;L;H7=?D=J>;L7H?EKI799ECFB?I>C;DJI79>?;L;:J>HEK=>

+:D:@?
J>;ECF7DO;C87HA;:EDJ>;
D;NJIJ;FE7CKBJ?O;7HIJH7J;=?9FB7D97BB;:!+)->;!+)IJH7J;=O?I:;I?=D;:
JEIJH;D=J>;DEKH?D:KIJHOB;7:;HI>?FFEI?J?EDJ>HEK=>;D:C7HA;JH;FEI?J?ED?D=7D:8K?B:?D=EDEKH9EH;I;HL?9;I

M>?9>M;;NF;9JJE=;J>;HM?BB:H?L;I?=D?EB:;HI
0;M?BB9EDJ?DK;JEC7A;I?=D?;B?<;E;FHE=H7C
M>?9>7H;;NF;9J;:JEJEJ7B
C?BB?ED
7D:M;M?BB9EDJ?DK;JE?CFB;C;DJL7H?EKIC;7IKH;IM?J>J>;7?CJE!+)
[
J>;9B?;DJ;NF;H?;D9;
8OI;HL?D=7I7JHKIJ;:7:L?IEHM>E97DFHEL?:;?DDEL7J?L;CKBJ?I;HL?9;IEBKJ?EDI7D:
9EDI?IJ;DJI;HL?9;:;B?L;HO
[
J>; J;7C C;C8;H ;NF;H?;D9;
 8O ?DL;IJ?D= ?D MEHA; D;NJ
=;D;H7J?EDE<&B;7:;HI
7D:8K?B:?D=EDEKH?D9BKI?L;9KBJKH;7D:
[
EKH KI; E< J;9>DEBE=O 7D: :7J7 JE FEM;H 9B?;DJ 7D: ;CFBEO;; ;NF;H?;D9;I M?J> 9KJJ?D=;:=; :7J7 7D:
7D7BOJ?9I
FHE9;II;I
7D:JEEBIJ>7JM?BB7D=;>EMM;EF;H7J;EKH8KI?D;II


@?EC24E)JA6D
0;=;D;H7J;H;L;DK;IKD:;HI;L;H7BJOF;IE<9EDJH79JI
7I;NFB7?D;:8;BEM ;D;H7BBO
J>;JOF;E<9EDJH79J
?I :;J;HC?D;: 8O J>; D7JKH; E< J>; I;HL?9;IBJ>EK=> C7DO E< EKH I;HL?9; 7=H;;C;DJI 7H; 97D9;B78B; ED I>EHJ
DEJ?9;
 M; >7L; >?IJEH?97BBO >7: 7 >?=> H7J; E< 9B?;DJ H;J;DJ?ED 7D: ;NF;9J JE 9EDJ?DK; C7?DJ7?D?D= BED=J;HC
H;B7J?EDI>?FIM?J>EKH9B?;DJI,;;'EJ;
W7I?IE<)H;I;DJ7J?ED7D:,?=D?;'EJ;I
JE9EDIEB?:7J;:;9EDJH79JJOF;IJ>7J7H;CEIJ9ECCED?D
;79>EBO?N;:)H?9;
->;I;7HH7D=;C;DJI7H;9EDJH79JI?DM>?9>J>;9B?;DJ7=H;;IJEF7O7EL;H7IF;9??9> J>; 9B?;DJ 7=H;;I JE F7O 7 87I;:EDJ>;79JK7BIGK7H;;I;7HH7D=;C;DJI7H;9EDJH79JI?DM>?9>J>;9B?;DJIH;?C8KHI;KI;7=H;;:KFED
7CEKDJE7H=;I
7D:EJ>;H;NF;DI;I
7IIE9?7J;:M?J>J>;9EDJH79J;:MEHA
FBKI7FHE;IJ7D:7H:I;HL?9;IF;9??=>JEK9>FE?DJ:?I?D<;9J?D=I;HL?9;I
-H7DI79J?ED)H?9;
->;I;7H;7HH7D=;C;DJI?DM>?9>9KIJEC;HI7H;8?BB;:7JH7DI79J?ED
F;HBO87I?I;=
M>;;B9>7?HF7II;D=;HII;HL;:EH7?HFB7D;978?DI
9B;7D;:
!EKHBO
"D >EKHBO 7HH7D=;C;DJI
 J>; 9B?;DJ ?I 8?BB;: 7 EKHBO H7J;  B78EH >EKH
FHEL?:;:
&7D7=;C;DJ
+;?C8KHI;C;DJ
.D:;HJ>;I;F7HA?D=7HH7D=;C;DJI
M;C7D7=;7F7HA?D=<79?B?JOHEK=>J>;H;L;DK;7D:;NF;DI;I7IIE9?7J;:M?J>J>;<79?B?JOJEJ>;EMD;H
%;7I;:%E97J?ED
.D:;HJ>;I;F7HA?D=7HH7D=;C;DJI
M;F7O7BO7D:JH7DI?;DJF7HA;HIJEJ>;FHEF;HJOEMD;H0;H;J7?D7BB
H;L;DK;IH;9;?L;:7D:7H;H;IFEDI?8B;;I;F7HA?D=7HH7D=;C;DJI
M;7H;F7?:7EKHBO<;;JEFHEL?:;
F7HA?D=I;HL?9;I
7D:M;7H;H;IFEDI?8B;;9EDJH79J
D;H=O,7L?D=I
EDJH79JI7D:?N;:
)H?9;+;F7?H7D:
+;C;DJ
.D:;H J>;I; 7HH7D=;C;DJI
 M; 7=H;; JE :;L;BEF
 :;I?=D
 ;D=?D;;H
 7D: 9EDIJHK9J
L7H?EKIJOF;IE<;D;H=OI7L?D=FHE@;9JI::?J?ED7BBO
7IF7HJE<8KD:B;:;D;H=OIEBKJ?EDI
7HH7D=;C;DJI
 M; =K7H7DJ;; J>; FHE@;9J M?BB I7J?I;9B?;DJ7=H;;IJEF7OKI87I;:ED7FH;:;J;HC?D;:9EDJH79JK7BC?B;IJED;
I9>;:KB;
H7D9>?I;
0;?I;9;HJ7?D;D=?D;;H?D=I;HL?9;IJ>HEK=>?D:?L?:K7B7D:7H;7?I;IKD:;H
J>;%?D9,;HL?9;7D:-  8H7D:I
M>?9>7H;F7HJE<&-;9>D?97B,EBKJ?EDI
&?9HE=H?:7D:
.D?DJ;HHKFJ;:)EM;H
,KFFBO,OIJ;CI
"DIJ7BB7J?ED
.D:;HJ>;I;7HH7D=;C;DJI
M;FHEL?:;;B;9JH?97B9EDJH79J?D=I;HL?9;I 7I J>; ?DIJ7BB7J?ED E< IEB7H IEBKJ?EDI
 87JJ;HO IJEH7=;
 :?IJH?8KJ;:
=;D;H7J?ED
.),I;HL?9;7D:C7?DJ;D7D9;
87JJ;HO7D:FEM;H:?IJH?8KJ?EDKD?JI;HL?9;
7D: C7?DJ;D7D9;
 7D: EJ>;H IF;9?7B?P;: ;B;9JH?9 JH7:;I ->; 9B?;DJ 7=H;;I JE F7O KI
87I;:ED7FH;:;J;HC?D;:9EDJH79JK7BC?B;IJED;I9>;:KB;


(68>6?E2?56@8C2A9:4:?2?4:2=?7@C>2E:@?
(KH 9KHH;DJ H;FEHJ78B; I;=C;DJI 9EDI?IJ E< KI?D;II  "D:KIJHO W"X
 &7DK<79JKH?D=  ?IJH?8KJ?ED
W&X
:K97J?ED
L?7J?ED
7D:-;9>D?97B,EBKJ?EDIEHI;=C;DJ7D:=;E=H7F>?9?9
"D;
'EJ;I
JE
9EDIEB?:7J;:
?=>J;9>9B?;DJI
IFEHJI7D:;DJ;HJ7?DC;DJ
L;DK;I
 7D: JH7:?J?ED7B >EIF?J7BI 7D: DED79KJ; >;7BJ>97H; <79?B?J?;I "
7BIE FHEL?:;I L;>?9B; C7?DJ;D7D9; 7D: EJ>;H I;HL?9;I JE H;DJ7B 97H
FHEL?:;HI0;JOF?97BBOFHEL?:;J>;I;I;HL?9;IFKHIK7DJJECEDJ>BO7J7H;E8J7?D;:J>HEK=>7
9ECF;J?J?L;8?:FHE9;II7IM;BB7IFKHIK7DJJEMEHAEH:;HI
&FHEL?:;I?DJ;=H7J;:<79?B?JOI;HL?9;I
;D=?D;;H?D=
@7D?JEH?7B
7D:EJ>;H
IF;9?7B?P;: I;HL?9;I JE 7 L7H?;JO E< C7DK<79JKH?D=
 :?IJH?8KJ?ED
 7D: :7J7
9;DJ;H <79?B?J?;I 0; JOF?97BBO FHEL?:; J>;I; I;HL?9;I FKHIK7DJ JE CEDJ>BO
7J 7H; E8J7?D;: J>HEK=> 7
9ECF;J?J?L; 8?: FHE9;II 7I M;BB 7I FKHIK7DJ JE MEHA EH:;HI (D; 9B?;DJ
799EKDJ;:?II;=C;DJ?D
:K97J?ED:;B?L;HI@7D?JEH?7B
9KIJE:?7B
B7D:I97F?D=7D:=HEKD:I
<79?B?J?;I
;D=?D;;H?D=
 7D: F7HA?D= I;HL?9;I EEB :?IJH?9JI
 FH?L7J;
I9>EEBI
9EBB;=;I
7D:KD?L;HI?J?;I->;I;I;HL?9;I7H;JOF?97BBOFHEL?:;:
FKHIK7DJJECEDJ>BO7J7H;E8J7?D;:J>HEK=>;?J>;H79ECF;J?J?L;8?:FHE9;IIEHH;8?:KFED
H;D;M7B7IM;BB7IFKHIK7DJJEMEHAEH:;HI
L?7J?EDIKFFEHJI7?HB?D;I7D:7?HFEHJIM?J>I;HL?9;IH7D=?D=?I I;=C;DJ KD:;H C7IJ;H I;HL?9;I 7=H;;C;DJI->;I; 7=H;;C;DJI 7H;
JOF?97BBO H;8?: KFED H;D;M7B 7D: 7H; =;D;H7BBO IJHK9JKH;: 7I CEDJ>BO
EKHBO
7HH7D=;C;DJI-ME9B?;DJI799EKDJ;:?II;=C;DJ?D
-;9>D?97B ,EBKJ?EDI IF;9?7B?P;I ?D <79?B?JO ?D7D?97B 7D:
;B;9JH?97B I;HL?9;I
 / FEM;H :;I?=D
 ?DIJ7BB7J?ED 7D: C7?DJ;D7D9;

C?9HE=H?: IOIJ;CI :;I?=D
 ?DIJ7BB7J?ED 7D: C7?DJ;D7D9;
 ?D9BK:?D=
KD?DJ;HHKFJ;: FEM;H IKFFBO IOIJ;C 7D: FEM;H :?IJH?8KJ?ED KD?JI ->;I;
I;HL?9;I97D7BIE8;B;L;H7=;: :EC;IJ?97BBO 7D: ?DJ;HD7J?ED7BBO EDJH79JI ?I I;=C;DJ
7H; =;D;H7BBO IJHK9JKH;: 7I ;B;9JH?97B 9EDJH79J?D= I;HL?9;I 7IJ>;?DIJ7BB7J?EDE;H IF;9?7B?P;: ;B;9JH?9 JH7:; (D; 9B?;DJ
799EKDJ;:?II;=C;DJ?D


(6CG:46"2C2C6D
0;>EB:L7H?EKII;HL?9;C7HAI
JH7:;C7HAI
7D:
EHJH7:;D7C;I
IK9>7IW&
XW&K?B:?D=/7BK;
X
W&  H;;D7H;
X W& D>7D9;:B;7D
X W& D>7D9;:79?B?JO
X W%?D9 ,;HL?9;
X W-  
X W& EDD;9J
X
W&/7DJ7=;
X 7D: W+7L;D/EBJ
X M>?9> M; :;;C ?CFEHJ7DJ JE EKH C7HA;J?D= 79J?L?J?;I
 JE EKH 8KI?D;II
 7D:
 ?D
IEC;97I;I
JEJ>;?I?D=79J?L?J?;I9ED:K9J;:8OEKH-;9>D?97B,EBKJ?EDII;=C;DJ
6A6?56?46@?(:8?:7:42?E=:6?E
'EI?D=B;9B?;DJ799EKDJ;:7DEA6E:E:@?
0; 8;B?;L; J>7J ;79> 7IF;9J E< EKH 8KI?D;II ?I >?=>BO 9ECF;J?J?L; 7D: J>7J IK9> 9ECF;J?J?ED ?I 87I;:
FH?C7H?BO ED FH?9;
 GK7B?JO E< I;HL?9;
 ;<7D9;C;DJI
 7:7FJ?D= JE 9>7D=?D= MEHAFB79;
9ED:?J?EDI
 7D: 78?B?JO JE 7DJ?9?F7J; 7D: H;IFED: JE ?D:KIJHO 9>7D=;I C7@EH?JO E< EKH H;L;DK; ?I :;H?L;: EM;L;H
7D?DL?J7J?EDJE8?:?IE->;BEM9EIJE<;DJHO?DJ>;<79?B?JOI;HL?9;I8KI?D;IIH;IKBJI?D7L;HO9ECF;J?J?L;
C7HA;J0;C7?DBO9ECF;J;M?J>H;=?ED7B7D:BE97BEMD;HEF;H7J;:9ECF7D?;IJ>7JC7O>7L;CEH;79KJ;L?I?ED
?DJEBE97BC7HA;JI7D:I?=D?;7:9EIJI
FHEL?:?D=J>;CM?J>9ECF;J?J?L;7:L7DJ7=;I?D
J>EI; H;=7H:I 0; 7BIE 9ECF;J; ?D:?H;9JBO M?J> 9ECF7D?;I J>7J 97D F;H;CI;BL;I ED; EH CEH; E< J>;
I;HL?9;IM;FHEL?:;
(2=6D2?5"2C<6E:?8
(KHI7B;I7D:C7HA;J?D=79J?L?J?;I?D9BK:;:?=?J7B;D=7=;C;DJ7D::?H;9J?DJ;H79J?EDIM?J>FHEIF;9J?L;7D:
;N?IJ?D= 9B?;DJI
 FH?9?D=
 FHEFEI7B C7D7=;C;DJ
 7D: 9KIJEC;H H;B7J?EDI>?F C7D7=;C;DJ 8O :;:?97J;: 8KI?D;II
:;L;BEFC;DJJ;7CI
EF;H7J?EDIF;HIEDD;B
7D:C7D7=;C;DJ->;I;79J?L?J?;I7H;;N;9KJ;:8O8H7D9>7D:H;=?ED7B
I7B;I
C7HA;J?D=
7D:EF;H7J?EDIJ;7CI7II?=D;:JEEKH?D:KIJHO=HEKFI7D:7H;IKFFEHJ;:8O9;DJH7B?P;:I7B;I
IKFFEHJJ;7CI
?DI?:;I7B;IJ;7CI
7D:C7HA;J?D=F;HIEDD;B->;I7B;I7D:C7HA;J?D=J;7CI79GK?H;
DKHJKH;
7D:
C7D7=;B;7:IJ>HEK=>J>;I7B;I8KO?D=FHE9;II
7IM;BB7IJH7?DF;HIEDD;BEDFHE:K9JE<<;H?D=I
I7B;IJEEBI
7D:
FHEFEI7BIOIJ;CI
7BB=EL;HD;:8OIJ7D:7H:EF;H7J?D=FHE9;:KH;I
"24C@4@?@>:4?G:C@?>6?E:?@>>6C4:2='62=DE2E6
(D7DED=E?D=87I?I
M;CED?JEH9>7D=;IJEJ>;C79HE;9EDEC?9;DL?HEDC;DJ7D:J>;?HFEJ;DJ?7B?CF79JI
ED:;C7D:CED?JEH;:9>7D=;?IJ>;IJH;D=J>EHIE;9ECC;H9?7BH;7B;IJ7J;?D:KIJHO
;IF;9?7BBOCKBJ?J;D7DJ7D:EMD;HE99KF?;:9ECC;H9?7BE<;
H;9;DJ IE7J C7HA;J ?I FH?C7H?BO 7JJH?8KJ78B; JE J>; B?D=;H?D= ;<<;9JI E< J>; )7D:;C?9
 ;IF;9?7BBO J>;
DEHC7B?P7J?EDE<>O8H?:MEHA
M>?9>>7IH;IKBJ;:?D>?=>;HE<7JB7II7D:>?=>GK7B?JO
9ECC;H9?7B E<7L; ;NF;H?;D9;: CE:;IJ :;9B?D;I ?D :;C7D: ;I;C7HA;JI0;;NF;9JJ>;E99KF7D9OH7J;IE<B7II7D:>?=>GK7B?JO
8K?B:?D=I7D:879AJEE<HEK=>EKJ
'68F=2E@CJ?G:C@?>6?E
(KH EF;H7J?EDI 7H; IK8@;9J JE L7H?EKI <;:;H7B
 IJ7J;
 7D:
EH BE97B B7MI
 HKB;I
 7D: H;=KB7J?EDI H;=KB7J?D=
7CED=EJ>;HJ>?D=I
B78EH
M7=;I
7D:>;7BJ>7D:I7<;JOC7JJ;HI
7IM;BB7IB7MI7D:H;=KB7J?EDIH;B7J?D=JEJ>;
:?I9>7H=;E;;DL?HEDC;DJEHEJ>;HM?I;H;B7J?D=JEJ>;FHEJ;9J?EDE;;DL?HEDC;DJ!?IJEH?97BBO

J>;9EIJE<9ECFBO?D=M?J>J>;I;B7MI
HKB;I
7D:H;=KB7J?EDI>7IDEJ>7:7C7J;H?7B7:L;HI;;<<;9JEDEKHEL;HO;7HIE<>?IJEHO
M;KD:;HIJ7D:J>;?CFEHJ7D9;E<;C8;::?D=7D:?DJ;=H7J?D=
H;IFEDI?8B;7D:9ECCKD?JOC?D:;:8KI?D;IIFH79J?9;I?DJEEKHEF;H7J?EDI7D:9ECC?JJEIJ7D:7H:IJE9H;7J;L7BK;
7D:IKFFEHJJ>;BED=J;HCIK99;IIE7H;>EB:;HI
;CFBEO;;I
7D:9B?;DJI
(KH E7H: E< ?H;9JEHI EL;HI;;I &VI 9EHFEH7J; H;IFEDI?8?B?JOH;B7J;: H?IAI 7D: FH?EH?J?;I M?J> J>;
7II?IJ7D9; E< ?JI 9ECC?JJ;;I (KH E7H: E< ?H;9JEHI H;9;?L;I H;=KB7H H;FEHJI ?9> ?I H;IFEDI?8B; J E< J>; ECF7DOVI 9EHFEH7J; =EL;HD7D9; 7D: EL;H7BB 9EHFEH7J;


H;IFEDI?8?B?JOH;B7J;:EB:;H7D:DJ;HFH?I;+?IAECC?JJ;;
M>?9>
?IH;IFEDI?8B;JE;ECF7DOVIFHE=H7CI
FEB?9?;I
7D:FH79J?9;IH;B7J?D=JEIE9?7B7D:;DL?HEDC;DJ7B
C7JJ;HI J>7J C7O ?CF79J J>; ECF7DOVI 8KI?D;II 7D: A;O IJ7A;>EB:;HI ::?J?ED7BBO
 EKH ?DJ;HD7B 9KBJKH;

;DL?HEDC;DJ7BIKIJ7?D78?B?JO
7D:?D9BKI?ED;<7J?D9BK:;;CFBEO;;I79HEII
J>;;DJ;HFH?I;
7D:7H;7?C;:JE7:L7D9;EKH9EHFEH7J;H;IFEDI?8?B?JOIJH7J;=?;I
7D:H;=KB7HBOFH;I;DJJEJ>;E7H:
E<?H;9JEHIV,J7A;>EB:;H7D:DJ;HFH?I;+?IAECC?JJ;;
,?D9; 
 M; >7L; LEBKDJ7H?BO FK8B?I>;: 7 EHFEH7J; +;IFEDI?8?B?JO +;FEHJ ED 7D 7DDK7B 87I?I ?D
7B?=DC;DJ M?J> J>;  BE87B +;FEHJ?D= "D?J?7J?L; ; ,KIJ7?D78?B?JO 99EKDJ?D= ,J7D:7H:I E7H: JE
7::H;IIEKH8KI?D;II
EKH;CFBEO;;I
7D:J>;;DL?HEDC;DJ&EH;?D;!KC7D7F?J7BI;9J?EDE?IH;FEHJ7D:?DJ>;EHFEH7J;+;IFEDI?8?B?JO
I;9J?EDE;ECF7DOVI9EHFEH7J;M;8I?J;
F>2?2A:E2=
 ?L;DJ>7J&?I7I;HL?9;EH?;DJ;:8KI?D;II
EKH;CFBEO;;I7H;J>;:H?L?D=?D:EKHIK99;II

7D:M;8;B?;L;EKH78?B?JOJE7JJH79J
:;L;BEF
7D:H;J7?DEKH;CFBEO;;I7J7BBB;L;BIE7I7:?H;9J
?CF79JED9B?;DJI7J?I<79J?ED7D:EKH78?B?JOJE=HEMJ>;ECF7DO-EIK99;;:?D79ECF;J?J?L;B78EHC7HA;J
&
>7I:;L;BEF;:A;OH;9HK?JC;DJ7D:H;J;DJ?EDIJH7J;=?;I
E8@;9J?L;I
7D:C;7IKH;IJ>7JM;;
EL;H7BB C7D7=;C;DJ E< EKH 8KI?D;II->;I; IJH7J;=?;I
 E8@;9J?L;I
 7D: C;7IKH;I ; F?BB7HI E< EKH >KC7D
97F?J7BC7D7=;C;DJHEK=>J>;FHE=H7CI
FEB?9?;I
7D:?D?J?7J?L;I:;I9H?8;:8;BEM
?H;9JB78EH9EIJIH;FH;I;DJ;:EEC7FFHEN?C7J;BO

EH
M;H;IK8@;9JJEL7H?EKIBE97B9EBB;9J?L;
87H=7?D?D=7=H;;C;DJIIE<(9JE8;H

EKH?B;IJ7<<7D:C7D7=;C;DJ;CFBEO;;IH;FH;I;DJ;:J>;EJ>;H
(KH>KC7D97F?J7BIJH7J;=O?I=K?:;:8OEKHL7BK;I7D:7:L7D9;:8OEKH;CFBEO;;I0;FH?EH?J?P;:E?D=
8KI?D;II ?D 7 H;IFEDI?8B; M7O 7D: ;D78B?D= EKH ;CFBEO;;IV 7D: 9B?;DJIV IK99;II ->; ;N;9KJ?ED E< EKH >KC7D
97F?J7B IJH7J;=O ?I EL;HI;;D 7J J>; >?=>;IJ B;L;BI E< EKH EH=7D?P7J?ED
 EB:;H7D:DJ;HFH?I;+?IAECC?JJ;;
7D:79HEIIEKHI;D?EHC7D7=;C;DJ
;904,99,:/0*9
(KHE:;E<KI?D;IIED:K9J:H?L;IJ>;7FFB?97J?EDEHEK=>EKJEKHEF;H7J?EDI(KHE:;E<KI?D;IIED:K9JI;HL;I7I79H?J?97BJEEB
JE>;BF7BB&J;7CC;C8;HIJEH;9E=D?P;7D:H;FEHJKD;J>?97B9ED:K9J
M>?B;FH;I;HL?D=7D:DKHJKH?D=EKH9KBJKH;
E<>ED;IJO7D:799EKDJ78?B?JO->;ECF7DOFHEL?:;I9ECFH;>;DI?L;7DDK7BJH7?D?D=7D:9;HJ? 7 J;7C E< 7FFHEN?C7J;BO 
 ;CFBEO;;I 79HEII J>; .D?J;: ,J7J;I
 .$
 "H;B7D:
 7D: EJ>;H
BE97J?EDI
 M; >7L; ?DL;IJ;: ?D 7D: ?CFB;C;DJ;: 7 L7H?;JO E< IOIJ;CI 7D: JEEBI :;I?=D;: JE 9;DJH7B?P; 7D:
IJ7D:7H:?P; >?H?D= 7D: JH7?D?D= FH79J?9;I
 ?D9BK:?D= H;=?ED7B H;9HK?JC;DJ IJH7J;=?;I
 7FFB?97DJ JH79A?D= J;9>DEBE=O

7D:7:L7D9;:7D7BOJ?9IJ>7JFHEL?:;79J?ED78B;?DI?=>JI?DEKH!+FHE9;II;I->;I;;<;7JJH79J?ED
H;J;DJ?ED
7D:;D=7=;C;DJEE9EDIJ?JKJ;J>;
C7@EH?JOE?FFHE=H7C
M>?9>M;B7KD9>;:;DJ;HFH?I;M?:;?D->?IFHE=H7C?I
:;I?=D;: JE ;D>7D9; J>; C7D7=;C;DJ 7D: 9E79>?D= IA?BBI E< ; ;CFBEO;;
;NF;H?;D9;
9H;7J;7D;DL?HEDC;DJ
7D:?D9H;7I;H;J;DJ?ED
"D 
 M; H;B7KD9>;: EKH %;7:;HI>?F 97:;CO :;I?=D;: ; ;DJ;HFH?I; ->;  9B7II F7HJ?9?F7J;: ?D J>;  :;L;BEFC;DJ FHE=H7C
 M>?9>  FHEL?:;: 7
8HE7:;HEF;H7J?ED7BKD:;HIJ7D:?D=E;EH=7D?P7J?ED
?:;DJ?;CFBEO;;IVH;7:?D;II7I;<<;9J?L;B;7:;HI
(KHEDB?D;JH7?D?D=FB7J799;IIJE
7 CKBJ?JK:; E< JH7?D?D= 9EKHI;I
 L?:;EI
 H;<;H;D9; C7J;H?7B
 7D: EJ>;H JEEBI::?J?ED7BBO
 EKH ;@E8JH7?D?D=IF;9?;?HHEB;7D:BE97J?EDJE;D78B;KIJE:;B?L;H7L;
799;IIJE79EDJ?DKKCE<>;7BJ>7D:M;BBD;II8;D;7I; FB7D
 7 

;CFBEO;;7II?IJ7D9;FHE=H7C
>;7BJ>97H;;H:?I9EKDJFHE=H7CI
()588,2(:0549
0?J> 7FFHEN?C7J;BO 
 KD?EDH;FH;I;DJ;: ;CFBEO;;I
 M; 7H; F7HJO JE CEH; J>7D  9EBB;9J?L;
87H=7?D?D=7=H;;C;DJID7J?EDM?:;
M?J>CEH;J>7DC7@EHB78EHKD?EDI(KH9EBB;9J?L;87H=7?D?D=7=H;;C;DJI
?D9BK:;H;=?ED7BCKBJ?;CFBEO;H7=H;;C;DJI9EL;H?D=J>EKI7D:IE<;CFBEO;;I
7IM;BB7IBE97B?P;:I?J;7=H;;C;DJI
9EL;H?D=IC7BB;H=HEKFI0;IJH?L;JE;D=7=;M?J>EKHB78EHF7HJD;HI?D7D7JCEIF>;H;E JE H?IA C7D7=;C;DJ 7D: I7<;JO ->;
ECF7DOVIFHE=H7CI7H;:;I?=D;:JEC;;JEH;N9;;:9ECFB?7D9;IJ7D:7H:IE;(99KF7J?ED7B,7<;JO7D:!;7BJ>
:C?D?IJH7J?ED7D:EJ>;HH;=KB7JEHO8E:?;I7D:JEFHEJ;9JJ>;>;7BJ>7D:M;B<7H;E;DI?L; H?IA C7D7=;C;DJ 7D: I7<;JO FHE=H7C ?I I7<;JO 7M7H;D;II JE 9EDEMJE9ECFB;J;J7IAII7<;BO
[
JH7?D;:?D>7P7H:?:;DJ?7BB;D=;I7D:
[
FHED?GK;I7H;?CFB;C;DJ;:I>EKB:7BEIIE99KH
(KHW->?DA,7<;X7FFHE79>JEI7<;JO?D9BK:;I;IJ78B?I>?D=7I7<;JOC?D:I;J?II7<;JO9KBJKH;?I9EDJ?DKEKIBOH;?DHEK=>:7?BOCEC;DJIBOJH7?D?D=
JEF?9I
7D:KD?GK;FHE=H7CI7D:C7J;H?7BI9H;7J;:;9EHD;HIJED;IE?DA,7<;FHE=H7C?I:;I?=D;:JE>;BFB;7:;HI?:;DJ?7P7H:I
7D: ?CFB;C;DJ 9>7D=;I JE FH;L;DJ 799?:;DJ EH ?D@KHO "D EKH ;H?=>J97H;7J
J>;H?=>JJ?C;JE;NF;:?J;J>;?HH;9EL;HO
;2:;8,(4+04*2;9054
0?J> 7 M?:;BO :?IJH?8KJ;: MEHA?9
H;=?EDI
&VI9KBJKH;
7D:J>;J;7CC;C8;H;NF;H?;D9;?JIKFFEHJI
FB7OI7L?J7BHEB;?D7JJH79J?D=
H;J7?D?D=
7D:
;D=7=?D= J7B;DJ ->; ECF7DO MEHAI JE :;L;BEF 7D ?D9H;7I?D=BO ?D9BKI?L; 9KBJKH;
 M>;H; ?D:?L?:K7BI EFFEHJKD?J?;IJE=HEM?DJ>;?H97H;;HI
 K?:;: 8O&VI C?II?ED 7D: L7BK;I
 J>; ECF7DOVI ?D9BKI?L; 9KBJKH; IJH7J;=O ?I 79J?L7J;: J>HEK=> ?JI
KBJKH;  "D9BKI?ED EKD9?B &VI )H;I?:;DJ 7D: ( 7D: >?;< !KC7D +;IEKH9;I (< I;HL; 7I
;N;9KJ?L;IFEDIEHIE;EKD9?B
M>?9>FHEL?:;IH;=KB7HH;FEHJIJEJ>;E7H:VI,J7A;>EB:;H7D:DJ;HFH?I;+?IA
ECC?JJ;;
::?J?ED7BBO
 & ?I 7D GK7B (FFEHJKD?JO 7D: < J>;
H;GK?H;C;DJI E< J>; N;9KJ?L; (H:;H  E< J>; +;>78?B?J7J?ED 9J E<  7D: J>; /?;JD7C H7 /;J;H7DIV
+;7:@KIJC;DJII?IJ7D9;9J


G2:=23=6?7@C>2E:@?
(KH 9EHFEH7J; M;8I?J; ?I MMM78C9EC ->; 9EDJ;DJ ED 7DO M;8I?J; H;<;HH;: JE ?D J>?I EKB:DEJ8;L?;M;:7I
7F7HJE?IDDK7B+;FEHJ
7D:EKHM;8I?J;?IDEJ?D9EHFEH7J;:?DJEJ>?IEH
7DOE;HJ>;,;9KH?J?;I7D:N9>7D=;ECC?II?EDW,X0;C7A;7L7?B78B;
7H=;
J>HEK=>EKHM;8I?J;
EKHDDK7B+;FEHJIEDEHC$
*K7HJ;HBO+;FEHJIEDEHC*
KHH;DJ+;FEHJIEDEHC
$
FHENOIJ7J;C;DJI
7D:7C;D:C;DJIJEJ>EI;H;FEHJI;:FKHIK7DJJE,;9J?ED7EH:E;
,;9KH?J?;IN9>7D=;9JE<7IIEED7IH;7IED78BOFH79J?978B;7H;FEHJI7H;;B;9JHED?97BBOEH
;:JEJ>;,::?J?ED7BBO
J>;,C7?DJ7?DI7M;8I?J;7JMMMI;9=ELJ>7J9EDJ7?DIH;FEHJI
FHENO7D:
?D;H?D7JJ>;,
I64FE:G6$77:46CD@7'68:DEC2?E
;(&87,9()),&(5621(&(0%(5	



#2>6
86
%C:?4:A2=$44FA2E:@?D2?5FD:?6DDIA6C:6?46
,9EJJ,7BC?HI

)H;I?:;DJ7D:>?;<N;9KJ?L;(<N;9KJ?L;
/?9; )H;I?:;DJ E< &  
 M?J> =BE87B
H;IFEDI?8?B?JO ;
'EHJ>;7IJ;E7H:E<?H;9JEHIE<
&I?D9;#7DK7HO
7HB+BB?I

N;9KJ?L;/?9;)H;I?:;DJ7D:>?;<?D7D9?7B(<?;< ?D7D9?7B (<?;<(F;H7J?D=(<?;<79?B?J?;I,;HL?9;I(<?;<(F;H7J?D=(<ED;O

N;9KJ?L;/?9;)H;I?:;DJ7D:)H;I?:;DJ
,7B;I7D:&7HA;J?D=E<&I?D9;
'EL;C8;H,;D?EH/?9;)H;I?:;DJ
,7B;IE<&; +;7:;HVI ?=;IJ
IIE9?7J?ED
"D9JE;8HK7HO
+7SB/7B;DJRD

N;9KJ?L;/?9;)H;I?:;DJ7D:>?;?D

-H;7IKH;HE<&I?D9;&7O,;D?EH/?9;)H;I?:;DJ
>?;<99EKDJ?D=
(<?;<
?D7D9?7B(<;?9>>7L;E99KHH;:7D:7DOE?9>C7OE99KH?DJ>;;JH7:?D=FH?9;E<
EKH9ECCEDIJE9A->;H?IAI:;I9H?8;:8;BEM?:;DJ?;C7J;H?7BH?IAIM;<79;>EM;L;H
EKH8KI?D;II9EKB:7BIE
8;7<<;9J;:8O<79JEHIJ>7J7H;DEJFH;I;DJBOADEMDJEKIEHJ>7JM;9KHH;DJBO9EDI?:;HJE8;?CC7J;H?7B2EKI>EKB:
97H;;H?IAI:;I9H?8;:8;BEM?D7::?J?EDJEJ>;EJ>;H?D?DJ>?IDDK7B+;FEHJED
EHC $
 ?D9BK:?D= W&7D7=;C;DJVI ?I9KII?ED 7D: D7BOI?I E< ?D7D9?7B ED:?J?ED 7D: +;IKBJI E<
(F;H7J?EDIX W&X 7D: J>; 9EDIEB?:7J;: ; W?D7D9?7B
,J7J;C;DJIX
':DC7HA;JM;FHEL?:;I;HL?9;I?=>BO9ECF;J?J?L;7D:IK9>9ECF;J?J?ED?I87I;:FH?C7H?BOEDFH?9;

GK7B?JOE7D=;IC7@EH?JOE7JH;GK?H;9ECF;J?J?L;8?:I;BEM87HH?;HE<;DJHO?DJ>;<79?B?JO
I;HL?9;I8KI?D;IIH;IKBJI?D7L;HO9ECF;J?J?L;C7HA;J0;9ECF;J;C7?DBOM?J>H;=?ED7B7D:BE97BEMD;HEF;H7J;:
9ECF7D?;IJ>7JC7O>7L;CEH;?DI?=>J?DJEBE97BC7HA;J:OD7C?9I7D:I?=D??9>
9EKB:FHEL?:;J>;CM?J>79ECF;J?J?L;7:L7DJ7=;?DJ>EI;H;=7H:I0;7BIE9ECF;J;?D:?H;9JBOM?J>9ECF7D?;IJ>7J
97DF;H;CI;BL;IED;EHCEH;E;I;HL?9;IM;FHEL?:;KHJ>;H
??7D=?D=J;9>DEBE=O
M;C7OBEI;;N?IJ?D=9B?;DJI7D:<7?BJEM?D; I;HL?9;I E< 7 B7H=; 7D:
:?L;HI; MEHA?B;
9EDJHEBB?D= H;B7J;: B78EH 9EIJI (KH 78?B?JO JE 9EDJHEB B78EH 7D: 8;D;7D=;I?DJ>;KD;CFBEOC;DJH7J;
9>7D=;I?D?CC?=H7J?EDFEB?9O
H;=KB7JEHO9>7D=;I

FH;L7?B?D=M7=;H7J;I
7D:9ECF;J?J?EDM;<79;;H9ECF7D?;IEHJ7=;I
?D?DEKH;CFBEO;;87I;9EKB:
B;7:JE?D9H;7I;:9EIJI
IK9>7I?D9H;7I;:EL;HJ?C;?D9KHH;:7D:
EH?D9H;7I;:KI7=;E;
:;C7D:IE;H
C7DOE7JEKH9B?;DJIF7O9;HJ7?D9EIJI7JIF;9?7I?DIKH7D9;
>;7BJ>97H;9EIJI
I7B7HO
7D: I7B7HOH;B7J;: ;NF;DI;I
 7D: EJ>;H 9EIJI "< 79JK7B 9EIJI ;N9;;: J>; H7J;I IF;9?; 9EDJH79JI
 EKH
FHE;H;?IDE7IIKH7D9;J>7J?DJ>;?9>9EKB:>7L;7C7J;H?7B7:L;HI;;<<;9JED
EKH8KI?D;II
;9EDJ?DK?D=;<7L; 7 D;=7J?L; ;<<;9J ED EKH H;IKBJI E< EF;H7J?EDI "D
7::?J?ED
 79J?L?J?;I H;B7J;: JE ?:;DJ??H?D=
 7D: ?DJ;=H7J?D= GK7B?EB;7L;
EHE<<;H;CFBEOC;DJJEFEJ;DJ?7BH;FB79;C;DJIEDH;7IED78B;J;HCI
;79>E?9>C7O7:L;HI;BO7<<;9J
EKH8KI?D;II7D:7L; C7:; I?=D?7D:?D9H;7I;EF;H7J?ED7B;<;I;?DL;IJC;DJI?D7D:9>7D=;I
JEEKH8KI?D;IIIOIJ;CI7D:FHE9;II;IC7ODEJ9H;7J;J>;=HEMJ>
EF;H7J?ED7B;<7JM;;NF;9J7D:9EKB:H;IKBJ?DKD7DJ?9?F7J;:9EDI;GK;D9;I
?D9BK:?D=:?IHKFJ?EDIJEEKH879A
E<;;N;9KJ?ED7D:
EH8;D;;;NF;9J;:J?C;B?D;7D:
EHC7OH;IKBJ?D;NF;DI;I?D;N9;IIE7J?I9KHH;DJBO?9>9EKB:
D;=7J?L;BO7<<;9JEKH?FIM?J>9B?;DJI7D:EKHH;FKJ7J?ED?FI
 F7HJ?9KB7HBO M?J> EKH B7H=;IJ 9B?;DJI
 ?I 7D ?CFEHJ7DJ <79JEH
9EDJH?8KJ?D=JEEKH8KI?D;IIIK99;II0;FH?C7H?BOFHEL?:;I;HL?9;IFKHIK7DJJE7=H;;C;DJIJ>7J7H;97D9;B78B;8O
;?J>;HF7HJOKFEDJE:7OIVDEJ?9;IM;=;D;H7BBO?D9KH>?=>;H?D?J?7B9EIJIEDD;M9EDJH79JIKDJ?BJ>;B78EH
C7D7=;C;DJ 7D: <79?B?J?;I EF;H7J?EDI DEHC7B?P;
 EKH 8KI?D;II 7IIE9?7J;: M?J> BED=J;HC 9B?;DJ H;B7J?EDI>?FI ?I
=;D;H7BBOCEH;FHE7DI>EHJJ;HC9B?;DJH;B7J?EDI>?FI";I;HL?9;I;HF7HJ?;I
IK9>7I@E?DJL;DJKH;F7HJD;HI
JEF;H?9>M;7H;DEJ78B;JEI;B<F;H;MEHA?DLEBL;:,K9>7HH7D=;C;DJIC7O?DLEBL;IK89EDJH79JIEH@E?DJ
L;DJKH;H;B7J?EDI>?FIM>;H;M;:EDEJ>7L;:?H;9J9EDJHEBEL;HJ>;F;H;D;L;H ED; EH CEH; E< EKH IK89EDJH79JEHI EH @E?DJ L;DJKH; F7HJD;HI
 7J;L;H H;7IED
 <7?BI JE F;H; 7=H;;:KFED I;HL?9;I BJ>EK=> M; >7L; 9EDJHEBI 7D: FHE=H7CI ?D FB79; JE
CED?JEHJ>;MEHAE;H;97D8;DE7IIKH7D9;J>7JJ>;I;9EDJHEBI
EHFHE=H7CIM?BB>7L;J>;:;I?H;:;<<;9J
7D:M;C7O?D9KHI?=D?;79J?EDIEH?D79J?EDI
E7L;8KI?D;IIEF;H7J?EDI?D@KH?I:?9J?EDIEKJI?:;E;.D?J;:,J7J;I
CEIJI?=D?;.$7D:
"H;B7D:(KH?DJ;HD7J?ED7BEF;H7J?EDI7H;IK8@;9JJEH?IAIJ>7J7H;:?<<;H;DJEI;M;<79;?DJ>;.D?J;:,J7J;I
7D: IK8@;9J KI JE 9ECFB;N 7D: 7D=?D= B7MI 7D: H;=KB7J?EDI
 ?D9BK:?D= :?<<;H?D= B78EH B7MI 7D:
H;=KB7J?EDI H;B7J?D= JE J>; FHEJ;9J?ED E< 9;HJ7?D ?D7J M; 9EBB;9J 7D: C7?DJ7?D 78EKJ EKH ;CFBEO;;I

9B?;DJI
 7D: EJ>;H J>?H: F7HJ?;I CED= J>;I; B7MI ?I J>; .$ &E:;HD ,B7L;HO 9J
 J>; H?C?D7B %7M !KC7D
-H7<;.$H?8;HO9J
J>;H?C?D7B#KIJ?9;EHHKFJ?ED(<<;D9;I9J"H;B7D:
7D:
J>;.$7D:KHEF;7D.D?ED ;D;H7B7J7)HEJ;9J?ED+;=KB7J?EDIJ>;W )+X->;<7?BKH;JE9ECFBOM?J>J>;I;
B7MIEHH;=KB7J?EDI9EKB:IK8@;9JKIJEI?=D?;DM;F7HJ?9?F7J;?D@E?DJL;DJKH;IJ>7JEF;H7J;EKJI?:;E;.D?J;:,J7J;IM>;H;M;7H;DEJ
79EDJHEBB?D=F7HJO
M;C7O>7L;B?C?J;:9EDJHEBEL;HJ>;@E?DJL;DJKH;DO?CFHEF;H79J?EDI8OEKH@E?DJL;DJKH;
;CFBEO;;I
 F7HJD;HI
 EH 7=;DJI
 ?D9BK:?D=
 8KJ DEJ B?C?J;: JE
 <7?BKH; JE 9ECFBO M?J> J>; ., EH;?=D EHHKFJ
)H79J?9;I 9J
 J>; .$ H?8;HO 9J
 7D:
EH B7MI H;B7J?D= JE >KC7D JH7<;H9EDI;GK;D9;I
7DOE?9>9EKB:>7L;7D7:L;HI;
;<<;9JEDEKH;EF;H7J?D=H;IKBJIEEI;
JH7DIB7J?EDI7H;7<<;9J;:8OCEL;C;DJI?D;.,:EBB7H->;H;97D8;DE7IIKH7D9;
J>7J J>; 7L; 7 C7J;H?7B 7:L;HI; ;<<;9J ED EKH ?DJ;HD7J?ED7B EF;H7J?EDI EH ED EKH
9EDIEB?:7J;::4@?5:E:@?D
(&5($6(6,1&200(5&,$/2)),&(63$&(87,/,=$7,21'8(72+<%5,':25.02'(/6$1',1&5($6(6,12)),&(9$&$1&<
5$7(6&28/'$'9(56(/<$))(&7285),1$1&,$/&21',7,21
 A;O F7HJ E< EKH 8KI?D;II ?DLEBL;I FHEL?:?D= @7D?JEH?7B
 <79?B?J?;I ;D=?D;;H?D=
 7D: F7HA?D= I;HL?9;I ; .D?J;: ,J7J;I
 >O8H?: MEHA CE:;BI H;C7?D FH;L7B;DJ 7D:
9ECC;H9?7BE<;H:;J;H?EH7J?ED?DL797D9OB;L;BIMEKB:B?A;BO:;9H;7I;J>;:;C7D:;:;C7D:?=>BOFHE;I9EF;E<
EKH IJ7D:7H: I;HL?9; IF;9?;H; C7O 8; :;B7OI 7D:
7::?J?ED7B;NF;DI;I?D9KHH;:?DI;9KH?D=9B?;DJH;B7J?EDI>?FIM?J>IK9>D;MJ;D7DJI->;I;<79JEHI9EKB:7:L;HI;BO
7<<;9JEKHH;L;DK;I7D:;H D;=7J?L; 9>7D=;I ?D =BE87B
 D7J?ED7B
 7D: BE97B ;9EDEC?9 9ED:?J?EDI
9EKB:>7L;7D;=7J?L;?CF79JEDEKH8KI?D;II->;I;7:L;HI;;9EDEC?99ED:?J?EDI9EKB:97KI;7:;9B?D;?DEKH
9B?;DJIV:;C7D:
I;HL?9;I
EH7JJ;CFJI8OEKH9B?;DJIJE:;<;HF7OC;DJIEM;:JEKIKHJ>;H
FEJ;DJ?7B:;9B?D;I?D;9EDEC?99ED:?J?EDI
9EKB:H;IKBJ?D:;FH;II;:FH?9;I?9>9EKB:7<<;9JEKH?9> 7H; :;I?=D;: JE H;:K9; 7 9B?;DJVI EL;H7BB 9EDIKCFJ?ED E<
;D;H=O
IK9>7I;B;9JH?9?JO7D:D7JKH7B=7IEMDM7H:FHE@;9JI::?J?ED7BBO
M;:;F;D:
?DF7HJ
ED<;:;H7B7D:IJ7J;B;=?IB7J?ED7D:
FEB?9?;I J>7J IKFFEHJ ;D;H=O ;<;?H9KHH;DJ;NF?H7J?ED:7J;I
EH?<;I;<79JEHI9EKB:>7L;7D7:L;HI;;<<;9JED
EKH2E:@?)649?@=@8J2?5J36CD64FC:EJ
"( 0$< (;3(5,(1&( %5($&+(6 2) 25 ',65837,216 72 285 ,1)250$7,21 7(&+12/2*< 6<67(06 25 7+26( 2) 285
7+,5'3$57<3529,'(5625&/,(1762527+(5&203520,6(62)285'$7$7+$7&28/'$'9(56(/<$))(&7285%86,1(66
(KH?DDEBE=OIOIJ;CI7D:J>EI;E?H:F7HJOFHEL?:;HIEH9B?;DJI9EKB:8;J>;J7H=;JE<
9O8;H7JJ79AI
 H7DIECM7H; 7JJ79AI
 >79A?D=
 KD7KJ>EH?P;: 799;II
 F>?I>?D=
 9ECFKJ;H L?HKI;I
 C7BM7H;
 EH EJ>;H
?DJHKI?EDI
M>?9>9EKB:H;IKBJ?DEF;H7J?ED7B:?IHKFJ?EDIEH?D7IJ>;DEBE=OIOIJ;CI7D:?DIOIJ;CIE?H:F7HJOFHEL?:;HI
H;B7J?D=JEEKH9KHH;DJ
;HJ>?H:F7HJ?;I0;>7L;;NF;H?;D9;:
9;HJ7?D:7J77D:I;9KH?JO8H;79>;I?DJ>;F7IJ7D:9EKB:;NF;H?;D9;;IIJ;CC?D=;?DJ;DJ?ED7BEHD;=B?=;DJ79JIE;HJ>?H:F7HJ?;IKHJ>;HCEH;
M>?B;M;9EDJ?DK;JE:;LEJ;
I?=D?;H;97D8;DE7IIKH7D9;J>7JJ>;9EDJHEBI7D:FHE9;:KH;IM;>7L;?DFB79;M?BB8;IK<;I C;H=?D= 7HJ?DEBE=?;I C7O ?DJ;DI?;I;
9O8;HI;9KH?JOH?IAII9O8;HJ>H;7JI7H;9EDJ?DK7BBO;LEBL?D=
EKH9EDJHEBI7D:FHE9;:KH;IC7O8;9EC;?D7:;GK7J;

7D:M;C7O8;H;GK?H;:JE:;LEJ;7::?J?ED7BH;IEKH9;IJECE:?7D9?D=EKHIOIJ;CI?DJ>;7D9;7D:IJH;D=J>;DEKH
9O8;HI;9KH?JO
DO IK9> :?IHKFJ?EDI JE EKH ?DDEBE=O IOIJ;CI
 8H;79>;I EH 9ECFHEC?I;I E< :7J7
 7D:
EH
C?I7FFHEFH?7J?EDE;H
B7MI
EH8KI?D;II:;B7OIJ>7J9EKB:>7L;7C7J;H?7B7:L;HI;;<<;9JEDEKH8KI?D;II::?J?ED7BBO
M;8;B?;L;J>7J
7BED=M?J>J>; )+7D:J>;7B?;H?D9H;7I;:H;=KB7J?ED?IB?A;BO?DJ>;7H;7E<
:7J7FH?L79OECFB?7D9;M?J>J>?IH7F?:BO;NF7D:?D=7H;7E?I
;NF7D:?D=7H;7E?$1'5(/$7('%281'$5<6<67(06
&28/'$'9(56(/<,03$&7285$%,/,7<7223(5$7(285%86,1(66$1'5(3257285),1$1&,$/5(68/76
0;KJ?B?P;CKBJ?FB;FB7J; FHE9;II E< JH7DI?J?ED?D= EKH +) 7D: EJ>;H A;O 8EKD:7HO
IOIJ;CI->?IJH7DI?J?ED8;=7D?DJ>;J>?H:GK7HJ;HE<7D:M?BB9EDJ?DK;;D;NJ9EKFB;E7B7H=;
FEHJ?EDE;D;MIOIJ;CI?DJ>;?B;M;8;B?;L;EKHD;M+)


7D:8EKD:7HOIOIJ;CIM?BB;D>7D9;7D:IJ7D:7H:?P;EKHFHE9;II;I
7BBEM8;JJ;HEL;HI?=>J
7D:?CFHEL;EKHI;HL?9;
JEEKH9KIJEC;HI
7DO:?IHKFJ?EDJEJ>?IJH7DI?J?ED9EKB:?CF79JEKH78?B?JOJEI;D:7D:JH79A?DLE?9;I
FHE9;IIL;D:EH
F7OC;DJI
 F7O ;CFBEO;;I
 ;HM?I; EF;H7J; EKH
8KI?D;II,K9>:?IHKFJ?ED9EKB:7:L;HI;BO7<<;9JEKHFHE;;<<;9J?L;D;IIE;H
?D;?DJ;HD7B9EDJHEBI
':D;H7D9;E;HIJH7J;=?9JH7DI79J?EDII?=D?>7I8;;D
=;D;H7J;:8O79GK?I?J?EDI
7D:M;C7O9EDJ?DK;JE79GK?H;8KI?D;II;I?DJ>;IJH7J;=O
!EM;L;H
M;C7O;D9EKDJ;H9>7BB;D=;I?:;DJ?;HCEH;
J>;H;?IDE7IIKH7D9;J>7J7DOIK9>JH7DI79J?EDM?BB:;B?L;HJ>;7DJ?9?F7J;:H;IKBJI
?D9BK:?D=;NF;9J;:
IOD;H=?IJ?98;D;;HIJH7J;=?9JH7DI79J?EDC7O?DLEBL;7DKC8;HE;JH7DI79J?EDC7ODEJ;<<;9J?L;BO7:L7D9;EKH8KI?D;IIIJH7J;=O
7D:?JI7DJ?9?F7J;:8;D;?9>9EKB:D;=7J?L;BO?CF79JEKH78?B?JO
JE=HEMJ>7J79GK?H;:8KI?D;II
[
?DJ;=H7J?ED E< 7D 79GK?H;: 8KI?D;IIVI 799EKDJ?D=
 ?DDEBE=O
 9O8;HI;9KH?JO
 !+
 7D: EJ>;H
7:C?D?IJH7J?L;IOIJ;CIC7O<7?BJEF;HC?J;<<;9J?L;C7D7=;C;DJ7D:;NF;DI;H;:K9J?ED
[
KD7BB;D=;IC7O7H?I;?D?CFB;C;DJ?D=?DJ;HD7B9EDJHEBI
FHE9;:KH;I
7D:FEB?9?;I
[
7::?J?ED7B?D:;8J;:D;II?D9KHH;:7I7H;IKBJE<7D79GK?I?J?EDC7O?CF79JEKH;H?DIKH78B;H?IAI0;7H;H;IFEDI?8B;M?J>?D
7D:?D;N9;IIE?B;M;;D:;7LEHJEFKH9>7I;?DIKH7D9;
9EL;H7=;J>7J?I7FFHEFH?7J;JEEKH7II;IIC;DJE9;HJ7?DJOJ>;; :;J;HC?D7J?ED E< H;GK?H;: ?DIKH7D9; H;I;HL;I ?I :;F;D:;DJ KFED 79JK7H?7B @K:=C;DJI 0; KI; J>;
H;IKBJI E< 79JK7H?7B IJK:?;I JE ;IJ?C7J; ?DIKH7D9; H7J;I 7D: ?DIKH7D9; H;I;HL;I 7D=;
EKH;IJ?C7J;I9>7D=;IC7OC7J;H?7BBO?CF79JH;IKBJI
97KI?D=I?=D?EKB:M;8;KD78B;JEH;D;MEKH;N9;II
KC8H;BB7
EHEJ>;H9ECC;H9?7B?DIKH7D9;FEB?9?;I
?J9EKB:>7L;7
C7J;H?7B7:L;HI;?CF79JEDEKH8KI?D;II
7IMEKB:J>;?D9KHH;D9;E<97J7IJHEF>?9KD?DIKH;:9B7?CIEHJ>;?D78?B?JOEH
H;;HM?I; ?DIKH;: 9B7?CI KHJ>;H
 JE J>; ;NJ;DJ J>7J M; I;B<?DIKH; EKH
BEII;I
:;J;H?EH7J?ED?DEKHBEII9EDJHEB7D:
EHEKH9EDJ?DK?D=9B7?CC7D7=;C;DJ;<;EL;H7BB


9EIJE<9B7?CIM?J>?DEKHH;J7?D;:B?C?JIC7J;H?7B9>7D=;?DEKH?DIKH7D9;9EIJI:K;JE9>7D=;I?DJ>;; I;L;H?JO E< J>; 9B7?CI
 J>; 9EIJI E< ;N9;II
KC8H;BB7 FH;C?KCI
 EH H;=KB7JEHO 9>7D=;I 9EKB: >7L; 7
C7J;H?7B7:L;HI;;<<;9JEDEKHEBBOEMD;:97FJ?L;?DIKH7D9;9ECF7DO
"&IIKH7D9;ECF7DOW"&X
M>?9>
M; 8;B?;L; >7I FHEL?:;: KI M?J> ?D9H;7I;: ; ;D:JE;D: C7D7=;C;DJ E< EKH ?DIKH7D9; FHE=H7C
->;H;97D8;DE7IIKH7D9;J>7J"&M?BB9EDJ?DK;JE8H?D=78EKJJ>;?DJ;D:;:8;D;;:;I?H;:;
C7D7=;C;DJE7J9EKB:H;:K9;EH
;B?C?D7J;;NF;9J;:8;D;HEK=> J>; ?CFB;C;DJ7J?ED E<
9ECF7DOM?:;I7<;JO7D:BEII9EDJHEB;<;7JC?=>J
?D9H;7I; EKH B?78?B?JO !EM;L;H
 ?D9?:;DJI ?DLEBL?D= F;HIED7B ?D@KHO EH FHEF;HJO BEII C7O 8; 97KI;: 8O CKBJ?FB;
FEJ;DJ?7B<79JEHI
7I?=D??9>7H;8;OED:EKH9EDJHEB->;H;;H;97D8;DE7IIKH7D9;J>7J
EKHH?IAC7D7=;C;DJ7D:I7<;JOFHE=H7CIM?BB>7L;J>;:;I?H;:;<<;9JE<9EDJHEBB?D=9EIJI7D:B?78?B?JO;NFEIKH;
':DEKI7D:I E< ;CFBEO;;I
 C7DO E< M>EC MEHA 7J EKH 9B?;DJIV
<79?B?J?;I0;?D9KHH?IAIH;B7J?D=JEEKH;CFBEOC;DJE;I;MEHA;HI
?D9BK:?D=
8KJDEJB?C?J;:JE9B7?CI8OEKH
;CFBEO;;IE<:?I9H?C?D7J?ED
>7H7IIC;DJ
L?EB7J?EDIEEKHH;GK?H;C;DJI
EHL?EB7J?EDIE;H<;:;H7B

IJ7J;
EHBE97BB7MI9B7?CIE;F7HJE;
;CFBEOC;DJE;?CFEI?J?EDEDEKH;CFBEO;;IE<
FEB?9?;IEHFH79J?9;IE7JC7O8;:?<<;H;DJ;I;9B7?CIC7OB;7:JE
B?J?=7J?ED
?D9BK:?D=9B7II79J?EDB?J?=7J?ED
7D:J>;I;C7JJ;HIC7O97KI;KIJE?D9KHD;=7J?L;FK8B?9?JOM?J>H;IF;9JJE
7BB;=;:9B7?CI::?J?ED7BBO
J>;H;7H;H?IAIJE7BB;CFBEO;HI?DIEC;IJ7J;I
IK9>7I7B?;7FFB?97J?EDEEI;D;M?DJ;HFH;J7J?EDI7=7?DIJ;CFBEO;HIED7H;JHE79J?L;
87I?I
M>?9>9EKB:?DLEBL;IK8IJ7DJ?7B9B7?CI7D:I?=D?;EKJ9EC;
E;I;B7MIK?JIEH7DOEJ>;HFHE9;;:?D=
7D:EKH?DIKH7D9;C7ODEJ9EL;H7BB9B7?CIJ>7JC7O8;7II;HJ;:7=7?DIJ
KI ->;I; B7MIK?JI 7D: EJ>;H FHE9;;:?D=I C7O 9EDIKC; IK8IJ7DJ?7B 7CEKDJI E< EKH H;IF;9JJEJ>;I;B7MIK?JI7D:7DO;
7==H;=7J;
 97KI; KI JE ?D9KH IK8IJ7DJ?7B B?78?B?J?;I J>7J 9EKB: >7L; 7 C7J;H?7B 7:L;HI; ;<<;9J KFED EKH 8KI?D;II

H;FKJ7J?ED
EB:;H L?;MI 7::H;II?D=
 7CED= EJ>;H J>?D=I
 M7=; 7D: >EKH IJ7D:7H:I
 ;CFBEOC;DJ 7D: B78EH H;B7J?EDI

L7H?EKI EHFEH7J; +;IFEDI?8?B?JOH;B7J;: FH79J?9;I
 B;7L; E< 78I;D9;
 9O8;HI;9KH?JO
 :7J7 FH?L79O 7D: FHEJ;9J?ED

E99KF7J?ED7B >;7BJ> 7D: I7<;JO
 ;DL?HEDC;DJ7B C7JJ;HI
 7DJ?9ECF;J?J?ED
 7DJ?9EHHKFJ?ED
 7D: =EL;HDC;DJ
9EDJH79J?D= &7DO E< J>;I; B7MI 7D: H;=KB7J?EDI C7O >7L; :?<<;H?D= EH 9ED;9ECFB;N?JO7D:9EIJE<9ECFB?7D9;0>;D<;:;H7B
IJ7J;
BE97B
EH
7L;JE?D9H;7I;J>;M7=;IE<8EJ>C?D?CKCM7=;;CFBEO;;I7D:
;CFBEO;;IM>EI;M7=;I7H;78EL;J>;C?D?CKCM7=;0;C7O7BIE<79;?D9H;7I;:EF;H7J?D=9EIJIH;IKBJ?D=7D=;I?D<;:;H7B
IJ7J;
EHBE97BB7MI7D:H;=KB7J?EDIH;B7J?D=JE;CFBEOC;DJC7JJ;HI
?D9BK:?D=J>EI;H;B7J?D=JE
C;7B7D:H;IJ8H;7AI
;B?=?8?B?JO;:KB?D=
H;GK?H;C;DJI "D 7::?J?ED
 M; ;NF;9J J>;H; M?BB B?A;BO 8; ?D9H;7I?D= 7D: ;LEBL?D= B;L;BI E< H;=KB7J?ED
 :?I9BEIKH;
H;B7J;:7D:EJ>;HM?I;
M?J>H;IF;9JJEEHFEH7J;+;IFEDI?8?B?JO?D9BK:?D=;DL?HEDC;DJ7BC7JJ;HI
7D:?D9H;7I;:
H;=KB7J?ED M?BB B?A;BO B;7: JE ?D9H;7I;: 9ECFB?7D9; 9EIJI 7I M;BB 7I I9HKJ?DO J>7J 9EKB: >;?=>J;D 7BB E< J>; H?IAI
?:;DJ??IH?IA<79JEH"D9H;7I;:9EIJIEJ>?I9EDIJ7DJBO;LEBL?D=B;=7B
7D:H;=KB7JEHO;DL?HEDC;DJ9EKB:H;:K9;EKHFHE7JFHEL?:;:;;D7JKH;E;H;7H;H?IAI
JEKI7IIE9?7J;:M?J>F7HJ?9?F7J?ED?DJ>;I;FB7DIJ>7J:?<<;H7J9EDJH?8KJ?D=;CFBEO;H"DJ>;;L;DJ7DEJ>;HF7HJ?9?F7J?D=;CFBEO;H?D7
CKBJ?;CFBEO;HF;DI?EDFB7DDEBED=;H9EDJH?8KJ;IJEJ>;FB7D
J>;KD;FB7DC7O8;8EHD;8O
J>;H;C7?D?D=F7HJ?9?F7J?D=;CFBEO;HI
?D9BK:?D=KI"DJ>;;L;DJE;J;HC?D7J?EDE<7CKBJ?;CFBEO;HF;DI?EDFB7D
EH79ECFB;J;EHF7HJ?7BM?J>:H7M7B:H7M7BB?78?B?J?;I0;;H:?I9KIIEKHF7HJ?9?F7J?ED?DCKBJ?;CFBEO;HF;DI?ED7D:FEIJH;J?H;C;DJFB7DI?D'EJ;

WCFBEO;;;D;;'EJ;IJE9EDIEB?:7J;:;J;HCIE<9EBB;9J?L;
87H=7?D?D= 7=H;;C;DJI H;GK?H; KI JE 9EDJH?8KJ; JE L7H?EKI ;7BJ> 7D: M;B<7H;

F;DI?ED
 7D: JH7?D?D= FB7DI
 7BB E< M>?9> H;GK?H; KI JE >7L; 7FFHEFH?7J; IOIJ;CI ?D FB79; JE 7IIKH; J?C;BO 7D:
799KH7J;F7OC;DJE<9EDJH?8KJ?EDI->;<7?BKH;JEC7A;J?C;BO7D:799KH7J;9EDJH?8KJ?EDI7I7H;IKBJE<7IOIJ;CI
<7?BKH;9EKB:>7L;7D;=7J?L;?CF79JEDEKH?9>M?BB;NF?H;EH8;9EC;IK8@;9JJEH;D;=EJ?7J?ED:KH?D="D7::?J?ED
7J
7DO =?L;D J?C; M; C7O <79; KD?ED EH=7D?P?D= 79J?L?JO 0>;D ED; EH CEH; E< EKH C7@EH 9EBB;9J?L; 87H=7?D?D=
7=H;;C;DJI8;9EC;IIK8@;9JJEH;D;=EJ?7J?EDEHM>;DM;<79;KD?EDEH=7D?P?D=:H?L;I
7DO:?I7=H;;C;DJ8;JM;;D
KI7D:J>;KD?EDED?CFEHJ7DJ?IIK;IC7OB;7:JE7IJH?A;
MEHAIBEM:EMD
EHEJ>;H@E879J?EDI7JED;EHCEH;E;H;M;7H;KD?ED?P;:8KJ9ECF;J?JEHI7H;DEJKD?ED?P;:
M;9EKB:BEI;9B?;DJIJEIK9>
9ECF;J?JEHIIJH?A;
MEHAIBEM:EMD
EHEJ>;H@E879J?ED9EKB::?IHKFJEKHI;HL?9;I
H;IKBJ?D=?DH;:K9;:H;L;DK;IEH
9EDJH79J 97D9;BB7J?EDI &EH;EL;H
 D;=EJ?7J?D= 7 7JM;C7O8;KD78B;JEF7IIJ>HEK=>
JE9B?;DJI
85%86,1(660$<%(0$7(5,$//<$))(&7('%<&+$1*(672),6&$/$1'7$;32/,&,(6(*$7,9(2581(;3(&7('7$;
&216(48(1&(6&28/'$'9(56(/<$))(&72855(68/762)23(5$7,216
0;7H;IK8@;9JJE7L7H?;JOE;.D?J;:,J7J;I7D:
;.$7D:"H;B7D:0;9ECFKJ;EKH?D9EC;J7NFHEL?I?ED87I;:ED;D79J;:J7NH7J;I
?D J>; @KH?I:?9J?EDI ?D M>?9> M; EF;H7J; I J7N H7J;I L7HO 7CED= J7N?D= @KH?I:?9J?EDI
 7 9>7D=; ?D ;7HD?D=I
7JJH?8KJ78B;JEJ>;L7H?EKI@KH?I:?9J?EDI?DM>?9>M;EF;H7J;9EKB:H;IKBJ?D7DKD<7LEH78B;9>7D=;?DEKHEL;H7BBJ7N
FHEL?I?ED::?J?ED7BBO
7J7DOFE?DJ?DJ?C;
M;C7O8;KD:;H;N7C?D7J?ED;B?A;B?>EE:E<7:L;HI;EKJ9EC;IH;IKBJ?D=;I;7K:?JIJE:;J;HC?D;J>;7:;GK79OE7D=;I ?D B7MI
 H;=KB7J?EDI
 JH;7J?;I
 7:C?D?IJH7J?L;
FH79J?9;I
 FH?D9?FB;I
 7II;IIC;DJI 8O 7KJ>EH?J?;I
 7D: ?DJ;HFH;J7J?EDI H;B7J;: JE J7N B7MI
 ?D9BK:?D= J7N HKB;I ?D
L7H?EKI@KH?I:?9J?EDI
M>?9>9EKB:>7L;7D7:L;HI;;<<;9JEDEKHEF;H7J?D=H;IKBJI7D:7L;9EHH;IFED:?D=?CF79JJEEKH9EIJIE<8EHHEM?D=7D:C7O>7L;
7D7:L;HI;?CF79JEDEKH78?B?JOJEH7?I;HEK=>J>;E<<;H?D=EHEK=>J>;?IIK7D9;E<:;8J
:K;JE>?=>;H:;8J97F?J7B9EIJI
:?C?D?I>;:9H;:?J7L7?B78?B?JO
7D:B;II<7LEH78B;;GK?JOC7HA;JIDOI?=D?7L;7C7J;H?7B7:L;HI;;<<;9JEDEKH8KI?D;II
H;IKBJIE7J9EKB:H;:K9;J>;:;C7D:E;HB?GK?:?JOD;;:I
7D:C7A;FB7DD;:97F?J7B
;NF;D:?JKH;IM?BB:;F;D:EDEKH78?B?JOJE=;D;H7J;97I>(KH78?B?JOJE=;D;H7J;97I>
JE79;HJ7?D;NJ;DJ
?IIK8@;9J
JE=;D;H7B;9EDEC?9
;H<79JEHIJ>7J7H;8;OED:EKH9EDJHEB0;97DDEJ=K7H7DJ;;J>7J
EKH8KI?D;IIM?BB=;D;H7J;IK<7J;HB?GK?:?JOD;;:I
C7A;FB7DD;:97F?J7B;NF;D:?JKH;I

EH9EDJ?DK;EKH:?L?:;D:
->;:;=H;;JEM>?9>M;7H;B;L;H7=;:9EKB:>7L;?CFEHJ7DJ9EDI;GK;D9;I7H;>EB:;HIEH;N7CFB;

8;?D=>?=>BOB;L;H7=;:9EKB:H;GK?H;KIJE:;:?97J;7IK8IJ7DJ?7BFEHJ?EDE;
F7OC;DJ E< :;8J I;HL?9;
 H;:K9?D= J>; 7L7?B78?B?JO E< EKH 97I> 7H; H;FKH9>7I;I

97F?J7B;NF;D:?JKH;I
79GK?I?J?EDI
7D:EJ>;H=;D;H7B9EHFEH7J;FKHFEI;IB?C?JEKH7L7?B78?B?JOJEE8J7?D7::?J?ED7B
;7D=;I?DEKH8KI?D;II7D:FB79;KI7J79ECF;J?J?L;:?I7:L7DJ7=;
9ECF7H;:JE8KI?D;II;I?DEKH?D:KIJHOJ>7J>7L;B;II:;8J
KHJ>;H
 EKH 9H;:?J <79?B?JO 9EDJ7?DI 8EJ> ;H 9EL;D7DJI J>7J B?C?J EKH 78?B?JO JE
;D=7=;?DIF;9?9EL;D7DJI?DJ>;9H;:?J<79?B?JO9EKB:H;IKBJ?D7D;L;DJE<
:;<7KBJJ>7J
?7L;7C7J;H?7B7:L;HI;;<<;9JEDKI
03$,50(172)*22':,//$1'/21*/,9('$66(76&28/'+$9($0$7(5,$/$'9(56(())(&721285),1$1&,$/&21',7,21
$1'5(68/762)23(5$7,216
0;;L7BK7J;=EE:M?BB;GK7HJ;H
EHCEH;E;D;L;H;L;DJIEH9>7D=;I?D9?H9KCIJ7D9;I?D:?97J;J>7J
J>;97HHO?D=7CEKDJE7II;JIC7ODEJ8;H;9EL;H78B;";<7?HL7BK;E7D
?JI97HHO?D=L7BK;
EH?<7I7H;IKBJE<7H;9EL;H78?B?JOJ;IJM;9ED9BK:;J>7JJ>;FHE@;9J;:KD:?I9EKDJ;:97I>7DJ>;97HHO?D=7CEKDJ
M;MEKB:H;9EH:7D?CF7?HC;DJ9>7H=;H;B7J;:JE=EE:M?BBEHBED=B?L;:7II;JI

H;IF;9J?L;BO EH ;N7CFB;
 :KH?D= J>; I;9ED: GK7HJ;H E< 
 =?L;D J>; =;D;H7B :;J;H?EH7J?ED ?D ;9EDEC?9 7D:
C7HA;J 9ED:?J?EDI 7H?I?D= ; (/" )7D:;C?9 WJ>; )7D:;C?9X
 M; ?:;DJ?7J
H;IKBJ;: ?D J>; ?CF7?HC;DJ E< =EE:M?BB 7D: ?DJ7D=?8B; 7II;JI ->; 7IIKCFJ?EDI KI;: JE :;J;HC?D; ?CF7?HC;DJ
H;GK?H;I?=D?;7CEKDJE;?CF7?HC;DJ9EKB:>7L;7C7J;H?7B7:L;HI;;<<;9JEDEKHH;FEHJ;:
;F;H?E:?DM>?9>J>;9>7H=;?IJ7A;D
):()$,/720$,17$,13523(5$1'())(&7,9(,17(51$/&21752/29(5),1$1&,$/5(3257,1*,17+()8785(285$%,/,7<72
352'8&( $&&85$7( $1' 7,0(/< ),1$1&,$/ 67$7(0(176 &28/' %( 1(*$7,9(/< ,03$&7(' :+,&+ &28/' +$50 285
23(5$7,1*5(68/76$1',19(67253(5&(37,2162)285203$1<$1'$6$5(68/70$<+$9($0$7(5,$/$'9(56(
())(&7217+(9$/8(2)285&20021672&.
)KHIK7DJJE,;9J?EDE;,7H87D;I(NB;O9JE<7D:H;B7J;:HKB;I
EKHC7D7=;C;DJ?IH;GK?H;:
JEH;FEHJED
7D:EKH?D:;F;D:;DJH;=?IJ;H;:FK8B?9799EKDJ?D=;;<<;9J?L;D;IIE;HKB;I=EL;HD?D=J>;IJ7D:7H:IJ>7JCKIJ8;C;J7L;79GK?H;:;DJ?J?;IJ>7J>7:DEFK8B?9BOJH7:;::;8JEH;GK?JO7D:J>;H;;HKB;I7D:H;=KB7J?EDIE;,
;IF;9?7BBOH;B7J;:JEJ>;?H?DJ;HD7B
9EDJHEBIJHK9JKH;0>;DM;79GK?H;IK9>;DJ?J?;I
J>;OC7ODEJ>7L;?DFB79;7BBJ>;D;9;II7HO9EDJHEBI7IH;GK?H;:
8O J>; )K8B?9 ECF7DO99EKDJ?D= (L;HI?=>J E7H: "DJ;=H7J?D= 79GK?H;: ;DJ?J?;I ?DJE EKH ?DJ;HD7B 9EDJHEB EL;H
7IH;GK?H;:7D:M?BB9EDJ?DK;JEH;GK?H;I?=D?;H F;HIEDD;B
 M>?9> ?D9H;7I;I EKH 9ECFB?7D9; 9EIJI 0; 7H; H;GK?H;: JE ?D9BK:; EKH 7II;IIC;DJ E< J>;
;<<;9J?L;D;IIE;?DJ;HD7B9EDJHEBIEL;H; ;L7BK7J?ED 7D: ?DJ;=H7J?ED E< ?DJ;HD7B 9EDJHEBI EL;H ?DJ>;H;GK?H;:J?C; J>; ?D9H;7I?D= EH?P?D=J>;JH7DI<;HE<7D=?D=EKH
L;D:EHC7IJ;H;HCEH;
J>;?DJHE:K9J?EDE7D=;IJE;N?IJ?D=
+)7D:7D=;C7D7=;C;DJH?IAIJ>7JH;GK?H;;<<;9J?L;?DJ;HD7B
9EDJHEBI JE C?J?=7J; 7?BKH; JE C7?DJ7?D 7D ;<<;9J?L; ?DJ;HD7B 9EDJHEB ;DL?HEDC;DJ 9EKB: >7L; 7 C7J;H?7B 7:L;HI;
;<<;9JEDEKH78?B?JOJE799KH7J;BOH;FEHJEKH;C7HA;JVIF;H9;FJ?EDE;H9ED:?J?EDIIK9>7IIDEMIJEHCI
>;7LOKHH?97D;I
7D:?D EKH -;9>D?97B ,EBKJ?EDI I;=C;DJ
 9EEB;H J>7D DEHC7B


J;CF;H7JKH;I ?D J>; IKCC;H 9EKB: H;:K9; J>; D;;: ?D)7HA?D=7D:L?7J?EDI;HL?9;I7D:FEHJ?EDIED?97B,EBKJ?EDI8KI?D;II

7:L;HI; M;7J>;H 9ED:?J?EDI 97D B;7: JE H;:K9;: 79J?L?JO
 7I M;BB 7I ?D9H;7I;I ?D 9;HJ7?D 9EIJI
 8EJ> E< M>?9>
D;=7J?L;BO 7<<;9J =HEII FHE; EJ>;H >7D:
 J>; 78I;D9; E< IDEM :KH?D= J>; M?DJ;H 9EKB: 97KI; KI JE
;NF;H?;D9;H;:K9;:H;L;DK;I?DEKH"I;=C;DJ
7IC7DOE;H KJ?B?J?;I
 EH
;II;DJ?7BI;HL?9;I:;F;D:;:KFED8OKIEH8OJ>?H:F7HJ?;IM?J>M>ECM;9ED:K9J8KI?D;II->?I9EKB:?D9BK:;
:?IHKFJ?EDI :K; JE :?I7IJ;HI
 F7D:;C?9I
 M;7J>;HH;B7J;: EH I?C?B7H ;L;DJI IK9> 7I KHH?97D;I
 8B?PP7H:I

;7HJ>GK7A;I
7D:EIJ?B?J?;IJ>7J9EKB:
?CF79JEKHC7HA;JI"<7:?IHKFJ?EDE99KHI?DED;BE97J?ED7D:F;HIEDI?DJ>7JBE97J?ED7H;KD78B;JE9ECCKD?97J;
M?J>EHJH7L;BJEEHMEHA;HBE97J?EDI
EKH78?B?JOJEI;HL?9;7D:?DJ;H79JM?J>EKH9B?;DJI7D:EJ>;HIC7OIK<<;H

7D:M;C7ODEJ8;78B;JEIK99;II7J:;F;D:ED9ECCKD?97J?EDIEHJH7L;B
->;I;;L;DJIC7O?D9H;7I;J>;LEB7J?B?JOE<F7HJ?7BEHDE9EHH;IFED:?D=
9ECF;DI7J?ED ;H; 7BIE 97D 8; DE 7IIKH7D9; J>7J J>; :?I7IJ;H H;9EL;HO 7D: 9H?I?I C7D7=;C;DJ
FHE9;:KH;IM;;CFBEOM?BBIK<;;NJ;DJ
9;DJH7B?P;: 7:C?D?IJH7J?L; BE97J?EDI 7H; :?I78B;:  7I
799EKDJIF7O78B;
?DDEBE=O
F7OHEBB
7D:=;D;H7BC7D7=;C;DJEF;H7J?EDI
9EKB:8;?DJ;HHKFJ;:
&7,2162)$&7,9,67,19(67256&28/'',65837285%86,1(66
)K8B?9 9ECF7D?;I >7L; 8;;D J>; J7H=;J E< 79J?L?IJ ?DL;IJEHI "D J>; ;L;DJ J>7J 7 J>?H: F7HJO
 IK9> 7I 7D
79J?L?IJ?DL;IJEH
FHEFEI;IJE9>7D=;EKH=EL;HD7D9;FEB?9?;I
8E7H:E<:?H;9JEHI
EHEJ>;H7IF;9JIEFHEFEI7BIC7O9H;7J;7I?=D??I 9EKB: D;=7J?L;BO ?CF79J EKH 78?B?JO JE ;N;9KJ; L7H?EKI IJH7J;=?9 ?D?J?7J?L;I 7D: C7O H;GK?H;
C7D7=;C;DJ JE ;NF;D: I?=D? FHEFEI7BI ,K9> FHEFEI7BI C7O 7BIE
9H;7J; KD9;HJ7?DJ?;I M?J> H;IF;9J JE EKH 	J36CD64FC:EJ
':D<"2?286>6?E2?5(EC2E68J
&H;9E=D?P;IJ>;?CFEHJ7D9;E<9O8;HI;9KH?JOH?IAC7D7=;C;DJ
M>?9>?I?DJ;=H7J;:M?J>?D&VIEL;H7BB
;DJ;HFH?I; H?IA C7D7=;C;DJ  IJ7D:7H: ?D:KIJHO ?D;A;OH?IAJEF?9I9EL;H;:M?J>?D&VI;DJ;HFH?I;H?IAHEK=>J>;
ECF7DOVIH;=KB7H?:;DJ??;< "DE
H;FEHJIJEEKH>?;<"D7L; ?CFB;C;DJ;: 9HEIIDEBE=?;I
 7D: 9EDJHEBI JE 7?: ?D EKH
;<; FEJ;DJ?7B ?CF79J JE EKH H;IKBJI E<
EF;H7J?EDI
 9EDJHEB ; FEJ;DJ?7B ?CF79J
 ?< 7DO
 JE EKH 8KI?D;II
IJH7J;=OEHH;FKJ7J?ED
0; 7:>;H; JE 7 H?IA87I;:
 CKBJ?B7O;H;: W:;<;DI; ?D :;FJ>X 7FFHE79> M?J> CKBJ?FB; B7O;HI E< I;9KH?JO
9EDJHEBI
?D9BK:?D=
8KJDEJB?C?J;:JE
I;9KH?JOCED?JEH?D=
;D:FE?DJFHEJ;9J?ED
7D:?:;DJ?JO7D:799;IIC7D7=;C;DJ
0;C7?DJ7?DFHE9;II;I:;I?=D;:JEEL;HI;;7D:?:;DJ?H;7JI7IIE9?7J;:M?J>
EKH KI; E< J>?H:F7HJO J;9>DEBE=?;I 7D: IOIJ;CI
 ?D9BK:?D=
 7I 7FFHEFH?7J;
 FH;FHE9KH;C;DJ 7II;IIC;DJ E<
9EDJH79JK7BJ;HCI7::H;II?D=9O8;HI;9KH?JO7D::7J7FHEJ;9J?ED
7IM;BB7IH;L?;M87I;:ED7II;II;:L;D:EHH?IA
0; 9ED:K9J H;=KB7H J;IJ?D= 7D: 7II;IIC;DJI E< EKH IOIJ;CI 7D: 9EDJHEBI JE ;L7BK7J; EKH ?D;BF?CFHEL;EKHI;9KH?JO
IJ7O7B?=D;:M?J>?D:KIJHO8;IJFH79J?9;I
;L7BK7J;;NJ;HD7B
J>H;7JI
7D:F;H?E:?97BBO9ED:K9J?D:;F;D:;DJI;9KH?JO7II;IIC;DJI
& FHEL?:;I H;=KB7H
 C7D:7JEHO JH7?D?D= H;7JI JE 8H?D=
7M7H;D;II ED >EM J>;O 97D >;BF FH;L;DJ 7D: H;FEHJ FEJ;DJ?7B 9O8;HI;9KH?JO ?D9?:;DJI 0; 7BIE FHEL?:; H;=KB7H
9O8;HI;9KH?JO7M7H;D;IIH;C?D:;HIJEEKH;CFBEO;;I
BJ>EK=>J>;ECF7DO:;:?97J;II?=D?;
ECF7DO>7I;NF;H?;D9;:
7D:;NF;9JIJE9EDJ?DK;JE8;IK8@;9JJE
9O8;HI;9KH?JOJ>H;7JI-E:7J;
J>;ECF7DO?I
DEJ7M7H;E<7DO9O8;HI;9KH?JO?D9?:;DJIJ>7J>7L;C7J;H?7BBO7<<;9J;:EH7H;H;7IED78BOB?A;BOJEC7J;H?7BBO7<<;9JJ>;
ECF7DO
 ?D9BK:?D= ?JI 8KI?D;II IJH7J;=O
 H;IKBJI E< EF;H7J?EDI EH ; ECF7DO
9EDJ?DK;IJE<79;9O8;HI;9KH?JOH?IAIIK9>7IJ>EI;:;I9H?8;:?D"J;C+?IA79JEHI?DJ>?IDDK7B+;FEHJED
EHC$
7D:J>;H;97D8;DE7IIKH7D9;J>7J9O8;HI;9KH?JOJ>H;7JIEH?D9?:;DJIM?BBDEJ>7L;7C7J;H?7B7:L;HI;
;<<;9JEDJ>;ECF7DO?DJ>;?B;J>;ECF7DOC7?DJ7?DI9O8;HH?IA?DIKH7D9;
IK9>?DIKH7D9;C7ODEJ8;
IK<; :7OJE:7O 7:C?D?IJH7J?ED E< J>; ECF7DOVI 9O8;HI;9KH?JO
FEB?9?;I
 FHE9;II;I
 FH79J?9;I
 7D: H?IA C7D7=;C;DJ 0?J>?D C7D7=;C;DJ
 J>; ECF7DOI >?;< "D7I IF;9?; >?;< "D;>?;<"DEKH;N;9KJ?L;C7D7=;C;DJJ;7CJEH;L?;MEKH
9O8;HI;9KH?JO FHE=H7CI
 E8@;9J?L;I
 JH;D:I 7D: J>H;7JI (KH >?;< "D7I EL;H  O;7HI E<
;NF;H?;D9;7I7J;9>DEBE=OB;7:;H
M?J>H;IFEDI?8?B?J?;IDEBE=OIJH7J;=?;I79HEII
:?L;HI;?D:KIJH?;I
?D9BK:?D=J;9>DEBE=O
9ECC;H9?7BH;7B;IJ7J;
C7DK<79JKH?D=
>;7BJ>97H;7D:7L?7J?ED(KH>?;<
"D7IEL;HO;7HIE?F;NF;H?;D9;?D7K:?J
H?IA
9ECFB?7D9;

7D:I;9KH?JO79HEII9ECFB;N=BE87BEH=7D?P7J?EDI
7D:;B:>?;<"D7IKBJ?C7J;EL;HI?=>JE;ECF7DOVIH?IAC7D7=;C;DJ7D:IJH7J;=OH;B7J;:JE?JI
9O8;HI;9KH?JOFHE=H7CI
FEB?9?;I
7D:FH79J?9;I
?D9BK:?D=?J>;ECF7DOVIFHE9;II;IH;7JI7D:;C;H=?D=9O8;HI;9KH?JO:;L;BEFC;DJI7D:


J>H;7JI ?? M>;J>;H 7DO H?IAI H;7JI >7L; C7J;H?7BBO 7<<;9J;: EH 7H; H;7IED78BO B?A;BO JE
C7J;H?7BBO 7<<;9J J>; ECF7DO ??? J>; ;NF;HJ?I; E< C;C8;HI E< C7D7=;C;DJ M?J> H;IF;9J JE 7II;II?D= 7D:
C7D7=?D=H?IAIH;7JI7D:?LJ>;ECF7DOVI:?I9BEIKH;9EDJHEBI7D:FHE9;:KH;IM?J>H;IF;9J
JEC7J;H?7B9O8;HI;9KH?JOJ>H;7JI7D:?D9?:;DJI->;E7H:E<?H;9JEHI?I7II?IJ;:8O?JI,J7A;>EB:;H7D:DJ;HFH?I;
+?IA ECC?JJ;;
 M>?9> EL;HI;;I J>; ECF7DOVI ;DJ;HFH?I; H?IA C7D7=;C;DJ FHE=H7C 7D: J>; ECF7DOVI
?:;DJ?EB:;HH?IAI
?D9BK:?D=J>EI;H;B7J?D=JE9O8;HI;9KH?JO
"D7::?J?ED
&>7I7CED?JEH?D=IOIJ;C7D:7D;I97B7J?EDFHE9;II?DFB79;JE?D;E7H:E<?H;9JEHIE<7DOFEJ;DJ?7BBOC7J;H?7B9O8;HI;9KH?JO?IIK;I,F;9?H;7JI
 C7A;I 7D ?D?J?7B 7II;IIC;DJ E< IK9>
:;L;BEFC;DJI 7D: J>H;7JI
 7D: ;I97B7J;I JE&VI >?;< "D;
7JJ;DJ?EDE?;< "D?;< "D;HC;C8;HIE;E7H:E<?H;9JEHI
7D:J>;,J7A;>EB:;H7D:DJ;HFH?I;+?IA
ECC?JJ;; "D 9EDD;9J?ED M?J> J>;I; KF:7J;I
 J>; E7H: E< ?H;9JEHI H;L?;MI J>; ECF7DOVI 9O8;HI;9KH?JO
FHE=H7CI7D:EL;HI;;IJ>;ECF7DOVI;<7D9;J>;ECF7DOVI9O8;HI;9KH?JOFHE;H?IAIH;B7J?D=JE9O8;HI;9KH?JO->;H;FEHJI?;<"D?;<"DBEEH
';M2EHA
';M2EHA
%C:?4:A2=%C@A6CE:6D2D@7$4E@36C


!@42E:@?
92C24E6C@7$77:46
AAC@I:>2E6
(BF2C666E
!62D6IA:C2E:@?
2E6*?=6DD
$H?65
(68>6?E
7BB7I
-;N7I
07H;>EKI;7D:
(F;H7J?EDI,KFFEHJ





-;9>D?97B,EBKJ?EDI

"
L?7J?ED

EHFEH7J;
7D:&
JB7DJ7
 ;EH=?7
(F;H7J?EDI,KFFEHJ





BB
';M2EHA
';M2EHA
EHFEH7J;
!;7:GK7HJ;HI





EHFEH7J;7D:"
,K=7H%7D:
-;N7I
DJ;HFH?I;,;HL?9;I





BB
-KIJ?D
7B?D?97B
,EBKJ?EDI
,7DH7D9?I9E

7B?D?97B,EBKJ?EDI
"D 7::?J?ED JE J>; 78EL; FHEF;HJ?;I
 M; >7L; EJ>;H E<EKI;I
 7D: F7HA?D= <79?B?J?;I ?D L7H?EKI
BE97J?EDI
FH?C7H?BO?DJ>;.D?J;:,J7J;I,;;'EJ;
W%;7I;I
X?DJ>;'EJ;IJE9EDIEB?:7J;:7J J>;I; FHEF;HJ?;I 7H; M;BBC7?DJ7?D;:
 ?D =EE: EF;H7J?D=
9ED:?J?ED
7D:IK?J78B;;FKHFEI;I?9>J>;O7H;KI;:
)"	!!%'$#(	
"DH;IF;9JJEB;=7BC7JJ;HI?II;J?D'EJ;
WECC?JC;DJI7D:EDJ?D=;D9?;I
X?DJ>;
'EJ;IJE9EDIEB?:7J;:?IEHC$7D:?I?D9EHFEH7J;:>;H;?D
8OH;<;H;D9;
)"	"#().(!$(*'(	
'EJ7FFB?978B;


%')
)" 	 "' ) $' '()'#)M( $""$# &*). '!) ()$ $!' "))'( #
((*'%*'(($&*).(*')(	
"2C<6E?7@C>2E:@?:G:56?5D2?5(E@4<9@=56CD
(KH9ECCEDIJE9A?IB?IJ;:EDJ>;';M2EHA,JE9AN9>7D=;'2,&0;>7L;F7?:97I>:?L?:;D:I
;L;HOGK7HJ;HI?D9;KJKH;:?L?:;D:IM?BB8;:;J;HC?D;:87I;:EDEKH;7HD?D=I
97F?J7BH;GK?H;C;DJI
;H<79JEHI9EDI?:;H;:H;B;L7DJ8OEKHE7H:E<?H;9JEHI
J;9;C8;H

J>;H;M;H;
H;=?IJ;H;:>EB:;HIE>@?(E@4<'6AFC492D6D
<<;9J?L;;9;C8;H

EKHE7H:E<?H;9JEHI;NF7D:;:EKH;N?IJ?D=I>7H;H;FKH9>7I;FHE=H7C8O
7D7::?J?ED7BC?BB?ED
H;IF;9J?L;BO,>7H;H;FKH9>7I;IC7OJ7A;FB79;EDJ>;EF;DC7HA;JEHEJ>;HM?I;
7D:
7BBEHF7HJE;H;FKH9>7I;IC7O8;C7:;FKHIK7DJJE+KB;8FB7DIEH?DFH?L7J;BOD;=EJ?7J;:JH7DI79J?EDI
->;J?C?D=E7I;I?I7JEKH:?I9H;J?ED7D:M?BB:;F;D:KFEDI;L;H7B<79JEHI
?D9BK:?D=C7HA;J7D:8KI?D;II
9ED:?J?EDI
7H;FH?9;
I>7H;7L7?B78?B?JO
7D:EJ>;H<79JEHI+;FKH9>7I;:I>7H;I7H;H;J?H;:7D:
H;JKHD;:JE7D7KJ>EH?P;:8KJKD?IIK;:IJ7JKIJ(9JE8;H

7KJ>EH?P7J?ED7I;I
H;C7?D;:KD:;HJ>;,>7H;+;FKH9>7I;)HE=H7C
668(585&+$6(62)48,7<(&85,7,(6

			
	

)@E2=#F>36C@7
(92C6D%FC492D65
G6C286%C:46%2:5
A6C(92C6
)@E2=#F>36C@7
(92C6D%FC492D65
2D%2CE@7%F3=:4=J
??@F?465%=2?
AAC@I:>2E6@==2C
+2=F6@7(92C6D
E92E"2J.6E6
%FC492D65*?56C
E96%=2?
%6C:@5


T


U

U
U




T










T









)@E2=




 L;H7=;FH?9;F7?:F;HI>7H;:E;IDEJ?D9BK:;7DO;N9?I;J7N7I;I7IF7HJE;"D2?46C2A9
->;  9ECF7H;I J>; ;
,J7D:7H:  )EEHVI  "D:;N W,) X 7D: J>; ,J7D:7H:  )EEHVI ,C7BB7F  "D:;N W,) XI EKH
9ECF;J?JEHI7H;FH?D9?F7BBOFH?L7J;BO>;B:
M;:EDEJ8;B?;L;?J?I<;7I?8B;JE9EDIJHK9J7F;;H=HEKF9ECF7H?IEDED7D
?D:KIJHOEHB?D;E<8KI?D;II87I?I
#-')*'#(
.62CD?565$4E@36C
@>A2?J
?56I

















"?5FDEC:6D?4@CA@C2E65

 
 
 
 
 

(%?56I


 
 
 
 

(%(>2==2A?56I


 
 
 
 

->?IF;HI>7BBDEJ8;:;;C;:JE8;WIEB?9?J?D=C7J;H?7BXEHWJ>;,
EHIK8@;9JJE
+;=KB7J?ED  EH 
 EH IK8@;9J JE J>; B?78?B?J?;I E< ,;9J?ED  E< J>; ,;9KH?J?;I N9>7D=; 9J E< 
 7I
7C;D:;:->; 9ECF7H?IEDI ?D J>; F;H 7H; 87I;: ED >?IJEH?97B :7J7 7D: 7H; DEJ ?D:?97J?L; E<
 EH
?DJ;D:;:JE;FEII?8B;; ; H;IKBJI E< EF;H7J?EDI 7D: ?I&?IFHEL?:;:7I7IKFFB;C;DJJE
7D:I>EKB:8;H;7:?D9ED@KD9J?EDM?J>
EKH?D7D9?7B
,J7J;C;DJI->?I&9EDJ7?DI8EJ>>?IJEH?97B7D:?DJ>;C;7D?D=E;)H?L7J;
,;9KH?J?;I%?J?=7J?ED+;7J?DLEBL;H?IAI7D:KD9;HJ7?DJ?;I0;C7A;7J 7H; KD9;HJ7?D 7D: E 7I
W7DJ?9?F7J;
X W8;B?;L;
X W9EKB:
X W;IJ?C7J;
X W;NF;9J
X WEKB:
XWJ7H=;J
XEHEJ>;HI?C?B7HMEH:IEHF>H7I;I->;I;IJ7J;C;DJI7H;DEJ=K7H7DJ;;IE<7J7H;:?<7J
C?=>J97KI;IK9>:?<<;H;D9;I?D9BK:;
8KJ7H;DEJB?C?J;:JE
J>EI;:?I9KII;:?D)7HJE?IEHC$KD:;H"J;C

W+?IA79JEHI
XM>?9>7H;?D9EHFEH7J;:>;H;?D8OH;<;H;D9;(KHEI;M;9KHH;DJBO7DJ?9?F7J;->HEK=>EKJJ>;&
7CEKDJI7D:F;H9;DJ7=;IC7ODEJ
H;97B9KB7J;:K;JEHEKD:?D=.DB;IIEJ>;HM?I;?D:?97J;:
7BB?D;&7D:H;<;H;D9;IJEO;7HI7H;
87I;:EDEKH?9>;D:IED(9JE8;H
FD:?6DD$G6CG:6H
&?I7B;7:?D=FHEL?:;HE7C?II?EDJE>2<62
5:776C6?46 6G6CJ A6CD@? 6G6CJ 52J (KH FH?D9?F7B EF;H7J?EDI 7H; ?D J>; .D?J;: ,J7J;I
 7D: ?D  EKH .,
EF;H7J?EDI=;D;H7J;:7FFHEN?C7J;BOE8O:;B?L;H?D=L7BK;:I;HL?9;E<<;H?D=IJE8EJ>D;M7D:
;N?IJ?D= 9B?;DJI M?J>?D EKH ?D:KIJHO =HEKFI 7D: 79HEII EKH C7DO I;HL?9; B?D;I (KH H;L;DK; =HEMJ> IJH7J;=O ?I
FH;:?97J;:EDFKHIK?D=D;MI7B;I7D:J7H=;J?D=7<7LEH78B;H;J;DJ?EDH7J;7CED=;N?IJ?D=9EDJH79JIHEIII;BB?D=
7D: KFI;BB?D= FHE@;9JI 7D: I;HL?9;I ?I 7BIE 7D ?DJ;=H7B F7HJ E< EKH IJH7J;=O 0; 8;B?;L; EKH IJH7J;=?9 =HEMJ>
?D?J?7J?L;I
9EKFB;:M?J>EKH9EDJ?DK;:2E:@?
->HEK=>EKH!+)IJH7J;=O
7I:;I9H?8;:?D"J;C
WKI?D;II
XM;9EDJ?DK;JE;9B?;DJ;NF;H?;D9;
 8OI;HL?D=7I7JHKIJ;:7:L?IEHM>E97DFHEL?:;?DDEL7J?L;CKBJ?I;HL?9;IEBKJ?EDI
7D:9EDI?IJ;DJI;HL?9;:;B?L;HO
[
J>; J;7C C;C8;H ;NF;H?;D9;
 8O ?DL;IJ?D= ?D MEHA; D;NJ
=;D;H7J?EDE<&B;7:;HI
7D:8K?B:?D=EDEKH?D9BKI?L;9KBJKH;7D:
[
EKH KI; E< J;9>DEBE=O 7D: :7J7 JE FEM;H 9B?;DJ 7D: ;CFBEO;; ;NF;H?;D9;I M?J> 9KJJ?D=;:=; :7J7 7D:
7D7BOJ?9I
FHE9;II;I
7D:JEEBIJ>7JM;;NF;9JJE7D=;>EMM;EF;H7J;EKH8KI?D;II
0; 8;B?;L; J>7J EKH J;9>DEBE=O 7D: :7J7 ?DL;IJC;DJI M?BB ;D78B; J>; :;L;BEFC;DJ 7D: :;FBEOC;DJ E<
9B?;DJ<79?D= J;9>DEBE=O JE ?CFHEL; I;HL?9; :;B?L;HO JE EKH 9B?;DJI J>; KI; E< 7:L7D9;: :7J7 7D7BOJ?9I ; KF=H7:; E< EKH DJ;HFH?I; +;IEKH9; )B7DD?D= 7D: F7OHEBB
IOIJ;CI


6G6=@A>6?ED2?5)C6?5D
"24C@4@?@>:4?G:C@?>6?E:?@>>6C4:2='62=DE2E62?5$E96C
(D7DED=E?D=87I?I
M;CED?JEH9>7D=;IJEJ>;C79HE;9EDEC?9;DL?HEDC;DJ7D:J>;?HFEJ;DJ?7B?CF79JI
ED:;C7D:CED?JEH;:9>7D=;?IJ>;IJH;D=J>EHIE;9ECC;H9?7BH;7B;IJ7J;?D:KIJHO
;IF;9?7BBOCKBJ?J;D7DJ7D:EMD;HE99KF?;:9ECC;H9?7BE<;
H;9;DJ IE; C7HA;J ?I FH?C7H?BO 7JJH?8KJ78B; JE J>; B?D=;H?D= ;<<;9JI E< J>; )7D:;C?9
 ;IF;9?7BBO J>;
DEHC7B?P7J?EDE<>O8H?:MEHA
M>?9>>7IH;IKBJ;:?D>?=>;HE<7JB7II7D:>?=>GK7B?JO
9ECC;H9?7B E<7L; ;NF;H?;D9;: CE:;IJ :;9B?D;I ?D :;C7D: ;I;C7HA;JI0;;NF;9JJ>;E99KF7D9OH7J;IE<B7II7D:>?=>GK7B?JO
8K?B:?D=I7D:879AJEE<HEK=>EKJ	
 B7H=; & 9B?;DJ 9ECFB;J;: ?JI H;87B7D9?D= E< 7 FEHJ?ED E< ?JI MEHA D;;:I 7I F7HJ E< ?JI DEHC7B
FHE9KH;C;DJFHE9;II0;;NF;9J&VI;D;7HJ;HC
?DFC2?46'6D6CG6D
0; KI; 7 9EC8?D7J?ED E< ?DIKH;: 7D: I;B<?DIKH7D9; FHE=H7CI JE 9EL;H MEHA;HIV 9ECF;DI7J?ED
 =;D;H7B
B?78?B?JO
 7KJECE8?B; B?78?B?JO
 FHEF;HJO :7C7=;
 7D: EJ>;H ?DIKH78B; H?IAI "DIKH7D9; 9B7?C B?78?B?J?;I H;FH;I;DJ EKH
;IJ?C7J;EEKJH;=7H:JE?DIKH7D9;9EL;H7=;0;H;J7?D7IK8IJ7DJ?7BFEHJ?EDE;H?IAH;B7J;:JE
9;HJ7?DMEHA;HIV9ECF;DI7J?ED7D:C;:?97B9B7?CI%?78?B?J?;I7IIE9?7J;:M?J>J>;I;BEII;I?D9BK:;;IJ?C7J;IE<8EJ>
J>;7II?IJ7D9;E?H:F7HJO79JK7H?;I
M;H;L?;MEKH;IJ?C7J;E?I;L7BK7J?ED
M;H;L?;M
J>;IJ7JKIE<;N?IJ?D=7D:D;M9B7?CH;I;HL;I7I;IJ78B?I>;:8OJ>?H:F7HJO9B7?CI7:C?D?IJH7JEHI->;J>?H:F7HJO
9B7?CI7:C?D?IJH7JEHI;IJ78B?I>J>;97I;H;I;HL;I87I;:KFEDADEMD<79JEHIH;B7J;:JEJ>;JOF;7D:I;L;H?JOE;
9B7?CI
 :;CE=H7F>?9 <79JEHI
 B;=?IB7J?L; C7JJ;HI
 7D: 97I; B7M
 7I 7FFHEFH?7J; 0; 9ECF7H; 79JK7B JH;D:I JE
;NF;9J;: JH;D:I 7D: CED?JEH 9B7?CI :;L;BEFC;DJI ->; IF;9?; J>?H:F7HJO
7:C?D?IJH7JEHI7H;FHEL?:;:JEJ>;79JK7HOM>E7II?IJIKI?DFHE@;9J?D=7D79JK7H?7B;IJ?C7J;E;EL;H7BBKBJ?C7J;
BEII;I?=>:;:K9J?8B;FHE=H7CI
M>?9>?D9BK:;IJ>;97I;H;I;HL;IFBKI7D79JK7H?7B;IJ?C7J;
E7I"'+B7?CI0;KJ?B?P;J>;H;IKBJIE<79JK7H?7BIJK:?;IJE
;IJ?C7J;EKH?DIKH7D9;H7J;I7D:?DIKH7D9;H;I;HL;I;H;IKBJIE;79JK7H?7BH;L?;MIF;H?9>?D9BK:;:7D7BOP?D=H;9;DJBEII
:;L;BEFC;DJ F7JJ;HDI
 9ECF7H?D= J>; BEII :;L;BEFC;DJ 7=7?DIJ 8;D9>C7HAI
 7D: 7FFBO?D= 79JK7H?7B FHE@;9J?ED
C;J>E:I JE :;J;HC?D; J>; ;IJ?C7J; E< KBJ?C7J; BEII;I
 M; ?D9H;7I;: EKH JEJ7B H;I;HL;I H;B7J;: JE FH?EH O;7HI ;BEII7CEKDJI7IIE9?7J;:M?J>"'+B7?CI8OC?BB?ED?D"D

M;:;9H;7I;:EKHJEJ7BH;I;HL;IH;B7J;:JEFH?EHO;7H9B7?CI8OC?BB?ED


 6J:?2?4:2=:89=:89ED
[
+;L;DK;I ?D9H;7I;: 8O  C?BB?ED
 EH 
 JE 
 C?BB?ED :KH?D= 
 7I 9ECF7H;: JE 
+;L;DK;=HEMJ>M7I9ECFH?I;:EE<7D:79GK?I?J?ED=HEMJ>E<->;EH=7D?9
H;L;DK; =HEMJ> M7I :K; JE J>; >?=>;H FHE@;9J H;L;DK;I :K; JE J>; J?C?D= E< 9;HJ7?D C?9HE=H?: IOIJ;CI
:;I?=D7D:?DIJ7BB7J?EDFHE@;9JIM?J>?D-;9>D?97B,EBKJ?EDI
7D:D;JD;M8KI?D;II7D:;NF7DI?EDE<8KI?D;II
M?J>;N?IJ?D=9KIJEC;HIM?J>?DL?7J?ED
&
7D::K97J?ED->;?D9H;7I;?DH;L;DK;IM7IF7HJ?7BBOE<?D "
 7D: J>;
;NF;9J;: H;87B7D9?D= E< J>; I9EF; E< MEHA M?J> 7D ;N?IJ?D= 9KIJEC;H M?J>?D &9GK?I?J?ED =HEMJ> E<
C?BB?EDM7I:H?L;D8OJ>;*K7B?JO.FJ?C;9GK?I?J?ED
9ECFB;J;:?DJ>;J>?H:GK7HJ;HE<
[
(F;H7J?D= FHE;
:;9H;7I;?DEF;H7J?D=FHE;<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED
[
7D?D9H;7I;?DEJ>;HEHFEH7J;;NF;DI;I
FH?C7H?BO9EIJI7IIE9?7J;:M?J>L7H?EKIIOIJ;CIV=EB?L;
7D:EJ>;H?DL;IJC;DJI?DJ;9>DEBE=O
[
7DKD<7LEH78B;I;B<?DIKH7D9;H;I;HL;7:@KIJC;DJH;B7J;:JEFH?EHO;7H9B7?CI;H;8O7BBJ>;
:?H;9JB78EH7D:H;B7J;:9EIJIFHE@;9JM;H;H;9E=D?P;:FH?EHJE
->;:;9H;7I;M7IF7HJ?7BBOE<?D"
L?7J?ED
7D::K97J?ED
7IM;BB7I9EDJH79JC?NM?J>?D-;9>D?97B
,EBKJ?EDI
L?7J?ED
7D:&7D:
[
7:;9H;7I;?D7CEHJ?P7J?EDE;+7L;D/EBJ9GK?I?J?ED
[
(KH;<<;9J?L;J7NH7J;ED?D9EC;M7I;9>7D=;?DJ>;
<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED(KH;<<;9J?L;J7NH7J;; 9>7D=; ?D J>; <7?H L7BK; E<
9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED
[
';J 97I> FHEL?:;: 8O EF;H7J?D= 79J?L?J?;I M7I  C?BB?ED :KH?D=  (KH D;J 97I> FHEL?:;: 8O
EF;H7J?D=97I>79J?L?J?;IM7IBEM;HJ>7DFH?EHO;7H
FH?C7H?BO :K;JEJ>;J?C?D=E<9;HJ7?DMEHA?D=97F?J7B
H;GK?H;C;DJI
[
?L?:;D:IE<C?BB?EDM;H;F7?:JEI>7H;>EB:;HI
7D::?L?:;D:IJEJ7B?D=F;H9ECCEDI>7H;M;H;
:;9B7H;::KH?D=::?J?ED7BBO
M;H;FKH9>7I;:C?BB?EDE7H;I7:KFJEC?BB?EDE<8EHHEM?D=97F79?JO


'6DF=ED@7$A6C2E:@?D
2162/,'$7('
.62CD?565$4E@36C


GD	













?4C62D6
64C62D6
'6G6?F6D












(F;H7J?D=;NF;DI;I












85993(8.04








)69
,;BB?D=
=;D;H7B7D:7:C?D?IJH7J?L;;NF;DI;I









CEHJ?P7J?EDE6









(J>;H9ECFH;>;DI?L;BEII
?D9EC;
"DJ;H;IJH7J;IM7FI








'&	
EH;?=D9KHH;D9OJH7DIB7J?ED7D:EJ>;H









"D9EC;J7NFHEL?I?ED








'&	
@>AC696?D:G6:?4@>6









	'EJC;7D?D=M7I9ECFH?I;:EE<7D:79GK?I?J?ED=HEMJ>E<->;EH=7D?9H;L;DK;
=HEMJ>M7I:K;JEJ>;>?=>;HFHE@;9JH;L;DK;I:K;JEJ>;J?C?D=E<9;HJ7?DC?9HE=H?:IOIJ;CI:;I?=D7D:?DIJ7BB7J?ED
FHE@;9JIM?J>?D-;9>D?97B,EBKJ?EDI
7D:D;JD;M8KI?D;II7D:;NF7DI?EDE<8KI?D;IIM?J>;N?IJ?D=9KIJEC;HIM?J>?D
L?7J?ED
&
7D::K97J?ED->;?D9H;7I;?DH;L;DK;IM7IF7HJ?7BBOE<?D"7D:J>;;NF;9J;:H;87B7D9?D=E;I9EF;E7D;N?IJ?D=9KIJEC;HM?J>?D&9GK?I?J?ED
=HEMJ>E<C?BB?EDM7I:H?L;D8OJ>;*K7B?JO.FJ?C;9GK?I?J?ED
9ECFB;J;:?DJ>;J>?H:GK7HJ;HE<
3(5$7,1*;3(16(6
(F;H7J?D=;NF;DI;I?D9H;7I;:8OC?BB?ED
EH
JE
C?BB?ED:KH?D=
7I9ECF7H;:JE
 HEIIC7H=?D:;9H;7I;:8O8FIJE?D
7I9ECF7H;:JE?D->;:;9H;7I;?D=HEII
C7H=?DM7IFH?C7H?BO:H?L;D8OJ>;?D9H;7I;?DI;B<?DIKH7D9;7:@KIJC;DJIH;B7J;:JEFH?EHO;7H9B7?CI7I7H;IKBJE<
79JK7H?7B ;L7BK7J?EDI 9ECFB;J;: ED EKH MEHA;HIV 9ECF;DI7J?ED
 =;D;H7B B?78?B?JO
 7KJECE8?B; B?78?B?JO
 7D: FHEF;HJO
:7C7=;?DIKH7D9;FB7DI"D7::?J?ED
J>;:;9H;7I;?D=HEIIC7H=?DM7I7JJH?8KJ78B;JEJ>;C?BB?ED?DH;L;DK;
;?D9H;7I;?DI;BB?D=
=;D;H7B7D:7:C?D?IJH7J?L;;NF;DI;IM7IFH?C7H?BO7JJH?8KJ78B;
JE
[
7C?BB?ED<7?HL7BK;7:@KIJC;DJJE?D9H;7I;J>;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ
9GK?I?J?EDH;9EH:;::KH?D=
7I9ECF7H;:JE7C?BB?ED<7?HL7BK;7:@KIJC;DJJE:;9H;7I;J>;
9EDJ?D=;DJ9EDI?:;H7J?EDH;9EH:;::KH?D=


[
7  C?BB?ED ?D9H;7I; ?D 9EIJI 7IIE9?7J;: M?J> L7H?EKI IOIJ;CIV =EB?L; 7D: EJ>;H ?DL;IJC;DJI ?D
J;9>DEBE=O
[
7D78I;D9;E<7C?BB?ED8;D;?=>;H9ECF;DI7J?EDKD:;H
9;HJ7?D?D9;DJ?L;FB7DI
->?I?D9H;7I;M7IF7HJ?7BBOE<;D;M+)IOIJ;C
9B?;DJ<79?D=J;9>DEBE=O
MEHA?I:;9H;7I;M7IFH?C7H?BO:K;JEJ>;BEM;H7CEHJ?P7J?EDE;+7L;D/EBJ9GK?I?J?ED
17(5(67;3(16(
"DJ;H;IJ;NF;DI;?D9H;7I;:8OC?BB?ED
EH
JEC?BB?ED:KH?D=
7I9ECF7H;:JE

FH?C7H?BO:H?L;D8O>?=>;H8EHHEM?D=I;*K7B?JO.FJ?C;9GK?I?J?ED
1&20($;(6
KH?D=7D:
M;>7:;<<;9J?L;J7NH7J;IE<7D:
H;IF;9J?L;BO
H;IKBJ?D=?D7FHEL?I?ED
;9>7D=;?DJ>;<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JE
J>;+7L;D/EBJ9GK?I?J?ED(KH;<<;9J?L;J7NH7J;;9>7D=;?DJ>;<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED
17(5(67$7(:$36
0;>7:7BEIIE<C?BB?EDED?DJ;H;IJH7J;IM7FI:KH?D=J>;O;7H;D:;:(9JE8;H

7I9ECF7H;:
JE7BEIIE<C?BB?ED:KH?D=J>;O;7H;D:;:(9JE8;H

FH?C7H?BO:K;JEKD:;HBO?D=9>7D=;I?DJ>;<7?H
L7BK;E7: 7 ; O;7H ;D:;: (9JE8;H 
 
 7I
9ECF7H;: JE 7 ; O;7H ;D:;: (9JE8;H 
  ->?I
9>7D=;M7I:K;JE;;N9>7D=;H7J;8;JM;;DJ>;.,EBB7HW.,X7D:J>;H?J?I>FEKD:IJ;HB?D=
W )XKJKH;=7?DI7D:BEII;IED7D=;I?DJ>;H;B7J?L;
L7BK;E<;.,7D:J>;;NJ;DJE;O;7H;D:;:(9JE8;H

JEJ>;O;7H;D:;:
(9JE8;H

I;;W)7HJ""
"J;C&7D7=;C;DJVI?I9KII?ED7D:D7BOI?IE<?D7D9?7BED:?J?ED7D:+;IKBJIE<
(F;H7J?EDIXE;J>;,ED;9;C8;H



(*0(171)250$7,21
(KH9KHH;DJH;FEHJ78B;I;=C;DJI9EDI?IJE<"
&
:K97J?ED
L?7J?ED
7D:-;9>D?97B,EBKJ?EDI
,1$1&,$/1)250$7,21)25$&+(3257$%/((*0(17
.62C?565$4E@36C


GD	













?4C62D6
64C62D6
'6G6?F6D
KI?D;II"D:KIJHO












&7DK<79JKH?D=?IJH?8KJ?ED












L?7J?ED










:K97J?ED









-;9>D?97B,EBKJ?EDI





















$A6C2E:?8AC@7:E=@DD
KI?D;II"D:KIJHO









 6,8(:04.685-0:3(8.04




)69
&7DK<79JKH?D=?IJH?8KJ?ED









 6,8(:04.685-0:3(8.04

	

	





)69
L?7J?ED









 6,8(:04.685-0:3(8.04



)69
:K97J?ED









 6,8(:04.685-0:3(8.04





)69
-;9>D?97B,EBKJ?EDI









 6,8(:04.685-0:3(8.04



	
)69
 EL;HDC;DJ,;HL?9;I

U

U



U
'&	
 6,8(:04.685-0:3(8.04




EHFEH7J;









:@KIJC;DJD?97B
,EBKJ?EDI









:@KIJC;DJD?97B,EBKJ?EDI








'&	









	'EJC;7D?D=; H;L;DK; :;9H;7I; M7I FH?C7H?BO :H?L;D 8O 7JJH?J?ED E< 9;HJ7?D ;D=?D;;H?D= 9B?;DJI 7D: IE; D;M 9B?;DJI 7D: ;N?IJ?D= 9B?;DJ ;NF7DI?EDI 8EJ> :EC;IJ?97BBO 7D:
?DJ;HD7J?ED7BBO &7D7=;C;DJ H;?C8KHI;C;DJ H;L;DK;I ?I I;=C;DJ JEJ7B;:  C?BB?ED 7D:  C?BB?ED
:KH?D=7D:
H;IF;9J?L;BO
(F;H7J?D=FHE;:;9H;7I;?DEF;H7J?D=FHE7D=;?D9EDJH79JC?N7D:>?=>;HB;=7B
87::;8J
7D:?DIKH7D9;;NF;DI;->;
:;9H;7I;M7IF7HJ?7BBOE<;?D9H;7I;M7IFH?C7H?BO7JJH?8KJ78B;JEJ>;;NF7DI?EDE<8KI?D;IIM?J>;N?IJ?D=9KIJEC;HI
F7HJ?7BBOE<;
;NF;9J;:H;87B7D9?D=E;I9EF;E7D;N?IJ?D=9KIJEC;H7D:7BEIIE<79;HJ7?D9KIJEC;H
(F;H7J?D=FHE;?D9H;7I;?DEF;H7J?D=FHE;9>7D=;?D9EDJH79JC?N
F7HJ?7BBOE<?H;9;HJ7?DJ;9>D?97B;NF;HJ?I;
JEIKFFEHJ
9,$7,21
.62C?565$4E@36C








?4C62D6
64C62D6
+;L;DK;I








(F;H7J?D=FHE;?D9H;7I;M7IFH?C7H?BO7JJH?8KJ78B;JED;M8KI?D;II7D:I9EF;;NF7DI?EDIM?J>J>;;N?IJ?D=9B?;DJI7I
M;BB7I9EDJ?DK?D=H;9EL;HO?DJH7L;BLEBKC;"D7::?J?ED
?D
M;H;9E=D?P;:C?BB?ED?DH;L;DK;;H;8O7BBJ>;:?H;9JB78EH7D:H;B7J;:9EIJIM;H;H;9E=D?P;:FH?EHJE&7D7=;C;DJ
H;?C8KHI;C;DJ H;L;DK;I ?I I;=C;DJ JEJ7B;:  C?BB?ED 7D:  C?BB?ED :KH?D=  7D: 

H;IF;9J?L;BO
(F;H7J?D=FHE;:;9H;7I;?DEF;H7J?D=FHE;  C?BB?ED ?D H;L;DK; ;
:;9H;7I; ?D EF;H7J?D= FHE; ?D9H;7I; M7I FH?C7H?BO 7JJH?8KJ78B; JE D;J D;M 8KI?D;II M?DI
 F7HJ?7BBO E<;EF;H7J?D=FHE?=>;H87::;8J
;NF;DI;
(&+1,&$/2/87,216
.62C?565$4E@36C








?4C62D6
+;L;DK;I







(F;H7J?D=FHED?97B ,EBKJ?EDI H;L;DK;I ?D9H;7I;: 8O  C?BB?ED
 EH 
 JE  C?BB?ED :KH?D= 
 7I
9ECF7H;:JE+;L;DK;=HEMJ>M7I9ECFH?I;:EE<7D:79GK?I?J?ED=HEMJ>E<->;
EH=7D?9 H;L;DK; ?D9H;7I; M7I FH?C7H?BO :H?L;D 8O >?=>;H FHE@;9J H;L;DK;I :K; JE J>; J?C?D= E< 9ECFB;J?EDI E<
C?9HE=H?: IOIJ;CI 7D: =;D;H7JEHI ?DIJ7BB7J?ED FHE@;9JI
 F7HJ?7BBO E<?9B; 9>7H=?D=
IJ7J?EDI7B;I9GK?I?J?ED=HEMJ>E<C?BB?EDM7I:H?L;D8OJ>;*K7B?JO.FJ?C;9GK?I?J?ED
9ECFB;J;:?DJ>;J>?H:
GK7HJ;HE<
(F;H7J?D=FHE;?D9H;7I;?DEF;H7J?D=FHE;9EDJH79JC?N7D:BEM;H7CEHJ?P7J?EDE?I?D9H;7I;M7I
F7HJ?7BBOE<7H=;JEFEJ;DJ?7BBOI;JJB;79;HJ7?D9B?;DJC7JJ;H
25325$7(
.62C?565$4E@36C








?4C62D6
EHFEH7J;;NF;DI;I

 
 


EHFEH7J;;NF;DI;I?D9H;7I;:8OC?BB?ED
EH
JEC?BB?ED:KH?D=
7I9ECF7H;:JE
->;?D9H;7I;?D9EHFEH7J;;NF;DI;IM7IFH?C7H?BOH;B7J;:JE
[
7  C?BB?ED <7?H L7BK; 7:@KIJC;DJ JE ?D9H;7I; J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED H;B7J;: JE J>; +7L;D/EBJ
9GK?I?J?EDH;9EH:;::KH?D=
7I9ECF7H;:JE7C?BB?ED<7?HL7BK;7:@KIJC;DJJE:;9H;7I;J>;
9EDJ?D=;DJ9EDI?:;H7J?EDH;9EH:;::KH?D=
[
7  C?BB?ED KD<7LEH78B; I;B<?DIKH7D9; H;I;HL; 7:@KIJC;DJ H;B7J;: JE FH?EH O;7H 9B7?CI  L7H?EKI IOIJ;CIV =EB?L; 7D: EJ>;H ?DL;IJC;DJI ?D
J;9>DEBE=O7D:
[
7D78I;D9;E<7C?BB?ED8;D;?I?D9H;7I;M7IF7HJ?7BBOE<;D;M+)IOIJ;C
9B?;DJ<79?D=J;9>DEBE=O
MEHA; O;7H ;D:;: (9JE8;H 
 
 JE J>; O;7H ;D:;:
(9JE8;H

I;;W)7HJ""
"J;C&7D7=;C;DJVI?I9KII?ED7D:D7BOI?IE<?D7D9?7BED:?J?ED7D:+;IKBJIE<
(F;H7J?EDIXE;J>;,ED;9;C8;H



!:BF:5:EJ2?52A:E2='6D@FC46D
(KHFH?C7HOIEKH9;IEJEEHJ7D:BED=J;HC97I>H;GK?H;C;DJI
IIK9>
M;FHE@;9JEKH7DJ?9?F7J;:97I>H;GK?H;C;DJI7IM;BB7I97I>EI;D;;:I
"D 7::?J?ED JE DEHC7B MEHA?D= 97F?J7B H;GK?H;C;DJI
 M; 7DJ?9?F7J; J>7J EKH I>EHJ 7D: BED=J;HC 97I>
H;GK?H;C;DJIM?BB?D9BK:;7H;H;FKH9>7I;I

C7D:7JEHO BE7D H;F7OC;DJI
 9EDJ?D=;DJ 9EDI?:;H7J?ED F7OC;DJI DEBE=O
JH7DI KI;I C7O 7BIE ?D9BK:;
IJH7J;=?979GK?I?J?EDI(D7BED=J;HC87I?I
M;M?BB9EDJ?DK;JEH;BOEDEKH9H;:?J<79?B?JO7JEKHEF;H7J?D=97I>H;GK?H;C;DJIF;H?E:;?IIK7D9;E;I;;
;L;DJJ>7JEKHFB7DI9>7D=;EHEKH97I>H;GK?H;C;DJI7H;=H;7J;HJ>7DM;7DJ?9?F7J;
M;C7OD;;:JE799;IIJ>;
97F?J7BC7HA;JIJEH;GK?H;C;DJI!EM;L;H
J>;H;97D8;DE7IIKH7D9;J>7JIK9>EKB:M;D;;:?JEH
?<7L7?B78B;
J>7JJ>;J;HCIM?BB8;I7J?I<79JEHOJEKI7D:DEJ:?BKJ?L;JE;N?IJ?D=
I>7H;>EB:;HI
5(',7$&,/,7<
(D,;FJ;C8;H

M;H;;D;N?IJ?D=C?BB?ED9H;:?J<79?B?JOM?J>7
D;MI;D?EH
I;9KH;:;WH;:?J79?B?JOX
9EDI?IJ?D=E<7C?BB?EDH;LEBL?D=
B?D;E<9H;:?J7D:7DC?BB?ED7CEHJ?P?D=J;HCBE7D"D799EH:7D9;M?J>J>;J;HCIE;H;:?J79?B?JO
J>;
H;LEBL?D=B?D;E<9H;:?JM7IH;:K9;:JEC?BB?EDED,;FJ;C8;H

(D#KD;

J>;ECF7DO7C;D:;:7D:H;IJ7J;:J>;H;:?J79?B?JOJ>;W,;9ED:C;D:C;DJ
X7D:
J>;H;:?J79?B?JO7I7C;D:;:
J>;WC;D:;:H;:?J79?B?JOX
;NJ;D:?D=J>;C7JKH?JO:7J;JE#KD;

7D:
?D9H;7I?D=J>;97F79?JOE;H;LEBL?D=9H;:?J<79?B?JO;J>;DH;C7?D?D=J;HC
BE7DEKJIJ7D:?D=;C;D:;:H;:?J79?B?JOFHEL?:;I;?IIK7D9;E;?IIK7D9;E;
E8B?=7J?EDIKD:;HJ>;C;D:;:H;:?J79?B?JO7H;I;9KH;:ED7;C;D:;:H;:?J
79?B?JO7J7DOJ?C;M?J>EKJF;D7BJO
J 'EL;C8;H 
 
 M; 7C;D:;: EKH C;D:;: H;:?J 79?B?JO FKHIK7DJ JE J>; %"(+ -H7DI?J?ED
C;D:C;DJ7D:J>;?C;D:C;DJJEH;FB79;J>;8;D9>C7HAH7J;7JM>?9>.,:EBB7H:;DEC?D7J;:8EHHEM?D=I
8;7H ?DJ;H;IJ ; C7HA
:C?D?IJH7J?ED %?C?J;: I 7 H;IKBJ E< J>;I; 7C;D:C;DJI
 M; 97D 8EHHEM 7J -;HC ,(+ FBKI 7 9H;:?J IFH;7:
7:@KIJC;DJE<IK8@;9JJE7;C;D:;:H;:?J79?B?JO9EDJ7?DI9;HJ7?D9EL;D7DJI
?D9BK:?D=7C7N?CKCJEJ7BD;JB;L;H7=;H7J?EE<
JE
7C7N?CKCI;9KH;:D;JB;L;H7=;H7J?EE<JE
7D:7C?D?CKC?DJ;H;IJ9EL;H7=;H7J?EE<
JE
7IM;BB7IEJ>;H;;L;DJE<7C7J;H?7B79GK?I?J?ED
7I:;;C;D:;:H;:?J79?B?JO
M;C7O;B;9JJE?D9H;7I;J>;C7N?CKCJEJ7BD;JB;L;H7=;H7J?EJEJE;C7N?CKCI;9KH;:D;JB;L;H7=;H7J?EJEJEJ>;9EL;D7DJI:;I9H?8;:78EL;J
(9JE8;H

M;M;H;?D9ECFB?7D9;M?J>J>;I;9EL;D7DJI7D:;NF;9JJE8;?D9ECFB?7D9;?DJ>;;J;HCBE7DJ(9JE8;H

J>;
JEJ7BEKJIJ7D:?D=8EHHEM?D=I7D:IJ7D:8OB;JJ;HIE<9H;:?JM;H;
C?BB?ED7D:C?BB?ED
H;IF;9J?L;BOJ
(9JE8;H

M;>7:KFJEC?BB?EDE<8EHHEM?D=97F79?JO
(,19(670(172)25(,*1$51,1*6
0; FB7D JE H;?DL;IJ EKH  7D: ;NF7DI?ED
 7D: M; :E DEJ
7DJ?9?F7J;H;C?JJ?D=IK9>;7HD?D=IJEJ>;.D?J;:,J7J;I0>?B;.,<;:;H7BJ7N;NF;DI;>7I8;;DH;9E=D?P;:7I7


H;IKBJE;-7NKJI7D:#E8I9JE<
DE:;<;HH;:J7NB?78?B?J?;IM?J>H;IF;9JJE<;:;H7B7D:IJ7J;?D9EC;J7N;I
EH>EB:?D=J7N;I>7L;8;;DH;9E=D?P;:0;8;B?;L;J>7JEKH97I>ED>7D:?DJ>;.D?J;:,J7J;I
7BED=
M?J> EKHC;D:;: H;:?J 79?B?JO 7D:  7H;H;FKH9>7I;FHE=H7C8O
7D7::?J?ED7BC?BB?EDE7I;:I>7H;IKD:;HJ>;I>7H;H;FKH9>7I;FHE=H7C
:KH?D= J>; O;7H ;D:;: (9JE8;H 
 
 7I IKCC7H?P;: 8;BEMJ (9JE8;H 
 
 7KJ>EH?P7J?ED 7I;IH;C7?D;:KD:;HJ>;,>7H;+;FKH9>7I;)HE=H7C
.62CD?565$4E@36C

			
	







-EJ7BDKC8;HE7H;IFKH9>7I;:
 

L;H7=;FH?9;F7?:F;HI>7H;

 

-EJ7B97I>F7?:7H;H;FKH9>7I;I

 

 L;H7=;FH?9;F7?:F;HI>7H;7D:JEJ7B97I>F7?:7H;H;FKH9>7I;I:EDEJ?D9BK:;7DO;N9?I;J7N7I;I7I
F7HJE;"DD?97B,EBKJ?EDI8KI?D;II
M;;DJ;H?DJE;D;H=OI7L?D=IF;HJ>;<;:;H7B=EL;HDC;DJFKHIK7DJJEM>?9>M;7=H;;JE:;L;BEF
:;I?=D
;D=?D;;H
7D:9EDIJHK9J7FHE@;9J7D:
=K7H7DJ;; J>7J J>; FHE@;9J M?BB I7J?IHEK=>7=H;;C;DJIJEI;BBJ>;,)H;9;?L78B;IJEKD7<?H:
F7HJ?;I 0; KI; J>; 7:L7D9;I ; J>?H: F7HJ?;I KD:;H J>;I; 7=H;;C;DJI JE ; FHE@;9JI
 M>?9> 7H;
H;9EH:;:7I97I>;KI;E;97I>H;9;?L;:KD:;HJ>;I;7HH7D=;C;DJIJEF7O
FHE@;9J9EIJI?I9B7II?; H7J;I E< ?D7L; DEJ >7: 7 C7J;H?7B ?CF79J ED EKH ?D7D9?7B
,J7J;C;DJI0;7JJ;CFJJEH;9EL;H?D9H;7I;:9EIJI8O?D9H;7I?D=FH?9;I;;NJ;DJF;HC?JJ;:8O
9EDJH79JI7D:9ECF;J?J?ED
(*8/$725<19,5210(17
(KH EF;H7J?EDI 7H; IK8@;9J JE L7H?EKI <;:;H7B
 IJ7J;
 7D:
EH BE97B B7MI
 HKB;I
 7D: H;=KB7J?EDI H;=KB7J?D=
7CED=EJ>;HJ>?D=I
B78EH
M7=;I
7D:>;7BJ>7D:I7<;JOC7JJ;HI
7IM;BB7IB7MI7D:H;=KB7J?EDIH;B7J?D=JEJ>;
:?I9>7H=;E;;DL?HEDC;DJEHEJ>;HM?I;H;B7J?D=JEJ>;FHEJ;9J?EDE;;DL?HEDC;DJ!?IJEH?97BBO

J>;9EIJE<9ECFBO?D=M?J>J>;I;B7MI
HKB;I
7D:H;=KB7J?EDI>7IDEJ>7:7C7J;H?7B7:L;HI;;<<;9JEDEKH   8EJ>
EH=7D?97BBO7D:J>HEK=>79GK?I?J?EDI(F;H7J?D=97I>;GK7B?JO7D:J?C?D=E<9EBB;9J?EDIE<799EKDJIH;9;?L78B;J>;J?C?D=E;H
L;D:EHIJ>;J?C?D=7D:7CEKDJE;79JK7BF7OC;DJIE<9EDJ?D=;DJ9EDI?:;H7J?EDC7:;?D
;N9;IIE;79GK?I?J?ED:7J;<7?HL7BK;7D:J>;J?C?D=7D:7CEKDJEFHEL?:;:8OEF;H7J?D=79J?L?J?;I

 
 

';J97I>KI;:?D?DL;IJ?D=79J?L?J?;I

 
 

';J97I>KI;:?DFHEL?:;:8OFHEL?:;:8OEF;H7J?D=79J?L?J?;I:;9H;7I;:8OC?BB?ED:KH?D=
7I9ECF7H;:JE
->;:;9H;7I;M7IFH?C7H?BO:H?L;D8OJ>;J?C?D=E;:;9H;7I;M7IF7HJ?7BBOE<;78I;D9;E<7C?BB?EDF7OC;DJE<:;<;HH;:F7OHEBBJ7N;I:ED;?D
';J97I>FHEL?:;:8OEF;H7J?D=79J?L?J?;I?D9H;7I;:8OC?BB?ED:KH?D=
7I9ECF7H;:JE
->; ?D9H;7I; M7I FH?C7H?BO :H?L;D 8O 7  C?BB?ED F7OC;DJ C7:; ; ;*05 I;JJB;C;DJ ?D  7D: J>;
H;B7J;:?D9EC;J7N8;D;KI;:?D?DL;IJ?D=79J?L?J?;I9>7D=;:8OC?BB?ED:KH?D=
7I9ECF7H;:JE->;
9>7D=;M7IFH?C7H?BOH;B7J;:JEJ>;*K7B?JO.FJ?C;9GK?I?J?ED
9ECFB;J;:?D
';J97I>KI;:?D?DL;IJ?D=79J?L?J?;I9>7D=;:8OC?BB?ED:KH?D=
7I9ECF7H;:JE->;
9>7D=;M7IFH?C7H?BOH;B7J;:JEJ>;&EC;DJKC7D:+7L;D/EBJ79GK?I?J?EDI
9ECFB;J;:?D
04(4*04.*:0<0:0,9
';J97I>KI;:?DKI;:?D;:;9H;7I;?DD;J97I>KI;:M7IFH?C7H?BOH;B7J;:JEBEM;HI>7H;8KO879A
H;FKH9>7I;I?D7D:7D?D9H;7I;?DEKH8EEA97I>EL;H:H7 KI;: ?D  FHEL?:;: 8O
;9>7D=;M7IFH?C7H?BOH;B7J;:JE7:;9H;7I;?DD;J8EHHEM?D=I7: >?=>;H 8EHHEM?D=I JE ; &EC;DJKC 7D: +7L;D/EBJ
79GK?I?J?EDI7D:>?=>;HI>7H;H;FKH9>7I;I?D
,9,'(1'6
(D;9;C8;H

M;7DDEKD9;:7GK7HJ;HBO97I>:?L?:;D:E<F;HI>7H;EDEKH9ECCEDIJE9A

F7O78B;ED;8HK7HO

JEI>7H;>EB:;HIE:?L?:;D:
EDEKH9ECCEDIJE9A;L;HOGK7HJ;H:KH?D=

7D:0;F7?:JEJ7B7DDK7B:?L?:;D:IE<C?BB?ED

C?BB?ED
7D:C?BB?ED:KH?D=

7D:
H;IF;9J?L;BO
$7(5,$/$6+(48,5(0(176)5202175$&78$/$1'7+(5%/,*$7,216
IE<(9JE8;H

EKHC7J;H?7B97I>H;GK?H;C;DJI;HE8B?=7J?EDI
M;H;7IC?BB?EDF7O78B;M?J>?DCEDJ>I0;>7L;;:=;: 8EHHEM?D=I KD:;H EKHC;D:;: H;:?J 79?B?JO E<  C?BB?ED
 M>?9> ?I F7O78B; M?J>?D 
CEDJ>I ->; ?DJ;H;IJ F7OC;DJI ED EKH H;C7?D?D= 8EHHEM?D=I KD:;H J>;C;D:;: H;:?J 79?B?JO M?BB 8;
:;J;HC?D;:87I;:KFEDJ>;7L;H7=;EKJIJ7D:?D=87B7D9;E;FH;L7?B?D=?DJ;H;IJH7J;
:KH?D=J>7JJ?C;,;;'EJ;
WH;:?J79?B?JO
X?DJ>;?D7D9?7B,J7J;C;DJI;H:;J7?BE;J?C?D=E<;NF;9J;:EKI;I
L;>?9B;I
7D:;GK?FC;DJKI;:?DJ>;DEHC7B9EKHI;E<8KI?D;II(F;H7J?D=
7D:C?BB?EDF7O78B;M?J>?DCEDJ>I,;;'EJ;

W%;7I;I
X?DJ>;?D7D9?7B,J7J;C;DJI;H:;J7?BE;J?C?D=E<;NF;9J;:7:9EDJH79JK7BF7OC;DJI
;I;7HH7D=;C;DJIE<C?BB?ED
M?J>C?BB?EDF7O78B;M?J>?DCEDJ>I
N
4-583(:054 $,*/4525.? #,8<0*, .8,,3,4:9 T "DDEBE=O I;HL?9; 7=H;;C;DJI H;FH;I;DJ
EKJIEKH9;: I;HL?9;I 7D: B?9;DI?D= 9EIJI FKHIK7DJ JE EKH ?DDEBE=O 7=H;;C;DJI 0; >7:
9EDJH79JK7BF7OC;DJI;I;7=H;;C;DJIE<C?BB?ED
M?J>C?BB?EDF7O78B;M?J>?DCEDJ>I
N
,4,-0: )20.(:0549TNF;9J;:C?BB?EDF7O78B;?DCEDJ>I->;I;7CEKDJI7H;87I;:
ED;NF;9J;:;I7C;7IIKCFJ?EDIKI;:JEC;7IKH;EKH8;D;C7O8;F7?:?D97B;D:7HO;7H?;+7L;D/EBJ
8KI?D;II79>?;L;I9;HJ7?D;C;H=;H7=H;;C;DJ0;
;NF;9JJ>;+7L;D/EBJ8KI?D;IIJE79>?;L;J>;7
M;9KHH;DJBO;NF;9JJEC7A;7C?BB?EDF7OC;DJ?D&7OH;GK?H;C;DJI;HE8B?=7J?EDI
?9>M;97DDEJH;7IED78BO;IJ?C7J;
;;H FEIJH;J?H;C;DJ FB7DI ->; 9EIJ E< J>;I; FB7DI ?I ;GK7B JE J>; 7DDK7B
H;GK?H;: 9EDJH?8KJ?EDI :;J;HC?D;: ?D 799EH:7D9; M?J> J>; FHEL?I?EDI E< D;=EJ?7J;: 9EBB;9J?L; 87H=7?D?D=
7HH7D=;C;DJI KH?D= 
 
 7D: 
 9EDJH?8KJ?EDI C7:; JE J>;I; FB7DI M;H;  C?BB?ED

C?BB?ED
7D:C?BB?ED
H;IF;9J?L;BO>EM;L;H
EKH;CKBJ?;CFBEO;HFB7DI
7H; :;F;D:;DJ KFED 7 DKC8;H E< <79JEHI
 ?D9BK:?D= J>; ; FB7DI
 J>; 78?B?JO E< EJ>;H
F7HJ?9?F7J?D=9ECF7D?;IJEC;;JED=E?D=;B;L;BE;I;FB7DICEKDJIE<7JM;MEKB:8;9EDJH79JK7BBOE8B?=7J;:JEC7A;FKHIK7DJJE
J>;I; FB7DI 97DDEJ 8; H;7IED78BO ;IJ?C7J;: ,;; 'EJ; 
 WCFBEO;; ;D;; ?D7D9?7B
,J7J;C;DJI?9>M;7H;I;B<?DIKH;:
?D9BK:?D=
MEHA;HIV9ECF;DI7J?ED
=;D;H7BB?78?B?JO
7KJECE8?B;B?78?B?JO
FHEF;HJO:7C7=;
7D:EJ>;H?DIKH78B;H?IAIJ
(9JE8;H 
 
 EKH I;B<?DIKH7D9; H;I;HL;I
 D;J E< H;9EL;H78B;I
 M;H;  C?BB?ED I J>;I;
E8B?=7J?EDI:EDEJ>7L;I9>;:KB;:C7JKH?J?;I
M;7H;KD78B;JEC7A;7H;B?78B;;IJ?C7J;E;7CEKDJEH
J?C?D= E< 97I> J>7J C7O 8; H;GK?H;: JE I;JJB; J>;I; C7JJ;HI ,;; 'EJ; 
 W"DIKH7D9;
X ?D J>; ?D7D9?7B
,J7J;C;DJI;H:;J7?B
N
%48,*5.40@,+$(>,4,-0:9TJ(9JE8;H

EKHJEJ7BB?78?B?JO;H;IEBKJ?EDEHI;JJB;C;DJE;I;J7NFEI?J?EDIM?J>J>;J7N?D=7KJ>EH?J?;I?IIK8@;9JJEI?=D?;H;;7CEKDJEHJ?C?D=E<97I>J>7J
C7O 8; H;GK?H;: JE I;JJB; J>;I; C7JJ;HI "D 7::?J?ED
 9;HJ7?D E< J>;I; C7JJ;HI C7O DEJ H;GK?H; 97I>
I;JJB;C;DJI:K;JEJ>;KJ?B?P7J?EDE<9H;:?JI7D:D;JEF;H7J?D=BEII97HHO;HE<;?D:?H;9J8;D;;HJ7N?D=@KH?I:?9J?EDIJ>7JC7O8;7L7?B78B;
N
54:04.,4:5490+,8(:054!(?()2,04544,*:054=0:/ ;8*7;090:0545-"(<,4&52:TJ(9JE8;H


9EDJ?D=;DJ9EDI?:;H7J?EDE?9>C?BB?ED>7I8;;D799HK;:7IE<(9JE8;H


 ?D 97I> C7O 8; F7?: ?D 97B;D:7H O;7H  ?< J>; +7L;D/EBJ 8KI?D;II 79>?;L;I 9;HJ7?D ;C;H=;H7=H;;C;DJ


))$/$1&(+((755$1*(0(176
0; >7L; DE E<<87B7D9; I>;;J 7HH7D=;C;DJI EJ>;H J>7D KDH;9EH:;: IJ7D:8O B;JJ;HI E< 9H;:?J 7D: IKH;JO
8ED:I0;KI;B;JJ;HIE<9H;:?J7D:IKH;JO8ED:I?DJ>;EH:?D7HO9EKHI;E<8KI?D;IIJE;DIKH;J>;F;H;;L;DJM;7H;KD78B;JEC;;JEKH9B7?C
F7OC;DJ E8B?=7J?EDI I M; 7BH;7:O >7L; H;I;HL;I ED EKH 8EEAI ; 9B7?CI 9EIJI
 J>;I; :E DEJ H;FH;I;DJ
7::?J?ED7B B?78?B?J?;I ->; IKH;JO 8ED:I JOF?97BBO H;C7?D ?D ;I;B;JJ;HIE<9H;:?JJEJ7B;:C?BB?ED
7D:IKH;JO8ED:I7D:IKH;JO
879A;:B;JJ;HIE<9H;:?JJEJ7B;:C?BB?ED
H;IF;9J?L;BO';?J>;HE;I;7HH7D=;C;DJI>7I7C7J;H?7B9KHH;DJ
;<<;9J
 EH ?I H;7IED78BO B?A;BO JE >7L; 7 C7J;H?7B 2E6D
->;FH;F7H7J?EDE<9EDIEB?:7J;:.D?J;:,J7J;I=;D;H7BBO799;FJ;:
799EKDJ?D=FH?D9?FB;IW., )XH;GK?H;IEKHC7D7=;C;DJJEC7A;9;HJ7?D;IJ?C7J;IJ>7J7<<;9JJ>;H;FEHJ;:
7CEKDJI0;87I;EKH;IJ?C7J;IED>?IJEH?97B;NF;H?;D9;
ADEMDEH;NF;9J;:JH;D:I
?D:;F;D:;DJL7BK7J?EDI
7D:
L7H?EKIEJ>;H7IIKCFJ?EDIJ>7JM;8;B?;L;JE8;H;7IED78B;KD:;HJ>;9?H9KCIJ7D9;II;?H
;<<;9JI 97DDEJ 8; :;J;HC?D;: M?J> FH;9?I?ED
 79JK7B H;IKBJI 9EKB: :?<<;H I?=D?;I; ;IJ?C7J;I ->;H;
>7L;8;;DDEI?=D?7D=;IJEEKH9H?J?97B799EKDJ?D=FEB?9?;I7D:;IJ?C7J;I;O;7H;D:;:(9JE8;H

 0; 8;B?;L; J>; ; CEH; I?=D?;FH;F7H7J?EDE6?ED2?5*?46CE2:?E:6D
7764E:74EF2='6DF=ED:776C7C@>DDF>AE:@?D
+2=F2E:@?@7!@?8!:G65
DD6ED
0;;L7BK7J;EKH;D;L;H;L;DJIEH9>7D=;I
?D9?H9KCIJ7D9;I?D:?97J;J>7J
J>;97HHO?D=7CEKDJE
7II;JIC7ODEJ8;
H;9EL;H78B;->;I;;L;DJI7D:
9?H9KCIJ7D9;I?D9BK:;
8KJ7H;
DEJB?C?J;:JE>?=>;HJ>7D
;NF;9J;:7JJH?J?ED?FI79KHH;DJ
;NF;9J7J?EDJ>7J7BED=B?L;:
7II;JM?BB8;:?IFEI;:E<
I?=D?;;D:E<
?JIFH;L?EKIBO;IJ?C7J;:KI;7IM>;DM;9B7II?;B:7D=;?D
J>;;NJ;DJEHC7DD;H?DM>?9>
M;KI;7BED=B?L;:7II;JEH7
9>7D=;?DJ>;F>OI?97B
9ED:?J?EDE<7BED=B?L;:7II;J
.D:?I9EKDJ;:97I>;BEII?I97B9KB7J;:
87I;:ED;IJ?C7J;:<7?HL7BK;
 EE:M?BB?IDEJ7CEHJ?P;:8KJ
H7J>;HJ;IJ;:7JB;7IJ7DDK7BBO
7D=;I?D
9?H9KCIJ7D9;I?D:?97J;?J?I
CEH;B?A;BOJ>7DDEJJ>7JJ>;
97HHO?D=7CEKDJE;7II;J
C7ODEJ8;H;9EL;H78B;
 EE:M?BB?IJ;IJ;:;H;FEHJ?D=
KD?JB;L;B
M>?9>H;FH;I;DJI7D
EF;H7J?D=I;=C;DJEH7
9ECFED;DJE<7DEF;H7J?D=
I;=C;DJ EE:M?BB?IJ;IJ;:;H
F;H;GK7B?J7J?L;;L7BK7J?ED
?I7D7II;IIC;DJE<<79JEHIJE
:;J;HC?D;M>;J>;H?J?ICEH;
B?A;BOJ>7DDEJJ>7JJ>;<7?H
L7BK;E<7H;FEHJ?D=KD?J?IB;II
J>7D?JI97HHO?D=7CEKDJ

?D9BK:?D==EE:M?BB0;C7O
;B;9JDEJJEF;H;
GK7B?J7J?L;7II;IIC;DJ;J>;H7JH?==;H?D=;L;DJ>7I
E99KHH;:
?D9BK:?D=J>;;L7BK7J?EDE<
M>;J>;H?J?ICEH;B?A;BOJ>7DDEJJ>7J
7BED=B?L;:7II;JM?BB8;:?IFEI;:E<
I?=D?;;D:E7H=;IEL;H;O
H;GK?H;C7D7=;C;DJJEC7A;
7IIKCFJ?EDI7D:JE7FFBO@K:=C;DJ
JE;IJ?C7J;;7II;JI
7D:I;B;9J?D=J>;:?I9EKDJH7J;J>7J
H;;H?IA?D>;H;DJ?D;<7?HL7BK;E<;79>
H;FEHJ?D=KD?JKI?D=79EC8?D7J?EDE<
J>;?D9EC;7FFHE79>7D:J>;C7HA;J
7FFHE79>
->;?D9EC;7FFHE79>?D9EHFEH7J;I
J>;KI;E<7:?I9EKDJ;:97I>E:?DM>?9>J>;;IJ?C7J;:H;FEHJ?D=KD?J7D:
J>;D:?I9EKDJ;:JEFH;I;DJL7BK;
KI?D=7D7FFHEFH?7J;:?I9EKDJH7J;
->;L7BK7J?EDE;H
<79JEHI(KH?CF7?HC;DJ7D7BOI;I
9EDJ7?D?D>;H;DJKD9;HJ7?DJ?;I:K;JE
KD9EDJHEBB78B;;L;DJIJ>7J9EKB:
FEI?J?L;BOEHD;=7J?L;BO?CF79J
7DJ?9?F7J;:;I;;IJ?C7J;I
J>;
M;?=>J;:7L;H7=;9EIJE<97F?J7B?I
KJ?B?P;:JE97B9KB7J;J>;FH;I;DJL7BK;
E<7D:EF;H7J?D=
H;IKBJI0>;D;IJ?C7J?D=EKH
FHE@;9J;:H;L;DK;=HEMJ>7D:;C7HA;J7FFHE79>;IJ?C7J;I<7?H
L7BK;E<7H;FEHJ?D=KD?J8OKI?D=
C7HA;J9ECF7H78B;I;B7IJJ>H;;O;7HI
M;>7L;DEJC7:;7DO9>7D=;I
?DJ>;799EKDJ?D=C;J>E:EBE=OKI;:JE;L7BK7J;J>;
?CF7?HC;DJE;KI;7L;DEJC7:;7DO
9>7D=;I?DJ>;799EKDJ?D=C;J>E:EBE=OKI;:JE;L7BK7J;
?CF7?HC;DJE<=EE:M?BB:KH?D=J>;B7IJJ>H;;O;7HI
J(9JE8;H

M;>7:8?BB?EDE<=EE:M?BB(KH
=EE:M?BB?I?D9BK:;:?DJ>;D?97B,EBKJ?EDI
=EE:M?BB?CF7?HC;DJ7D7BOI?IM7IF;HE;I;IJK:?;I

J>;?CFB?;:<7?HL7BK;E<;79>EJ>;
;N9;FJ?EDE;:K97J?EDH;FEHJ?D=KD?JM>?9>>7:7D
;N9;IIE<->;H;;H;M;H;DE
?D:?97JEHIE;;IJ?C7J;:
<7?HL7BK;E<7DOE7L;
H;IKBJ;:?D7:?<<;H;DJ9ED9BKI?ED0;9ED9BK:;:J>;H;M;H;
DE?D:?97JEHIE6?ED2?5*?46CE2:?E:6D
7764E:74EF2='6DF=ED:776C7C@>DDF>AE:@?D
?DFC2?46'6D6CG6D
0;KI;79EC8?D7J?EDE;H
?DIKH78B;H?IAI
"DIKH7D9;9B7?CB?78?B?J?;I
H;FH;I;DJEKH;IJ?C7J;EEKJH;=7H:JE?DIKH7D9;
9EL;H7=;0;H;J7?D7IK8IJ7DJ?7B
FEHJ?EDE;H?IAH;B7J;:JE9;HJ7?D
MEHA;HIV9ECF;DI7J?ED7D:
C;:?97B9B7?CI%?78?B?J?;I
7IIE9?7J;:M?J>J>;I;BEII;I
?D9BK:;;IJ?C7J;IE<8EJ>9B7?CI
J>;7II?IJ7D9;E?H:F7HJO
79JK7H?;I
M;F;H?E:?97BBOH;L?;M
EKH;IJ?C7J;E?I
;L7BK7J?ED
M;H;L?;MJ>;IJ7JKIE<
;N?IJ?D=7D:D;M9B7?CH;I;HL;I7I
;IJ78B?I>;:8OEKHJ>?H:F7HJO
9B7?CI7:C?D?IJH7JEHI
->;J>?H:F7HJO9B7?CI
7:C?D?IJH7JEHI;IJ78B?I>J>;97I;
H;I;HL;I87I;:KFEDADEMD
<79JEHIH;B7J;:JEJ>;JOF;7D:
I;L;H?JOE;9B7?CI

:;CE=H7F>?9:7J7
B;=?IB7J?L;
C7JJ;HI
7D:97I;B7M
7I
7FFHEFH?7J;
0;9ECF7H;79JK7BJH;D:IJE
;NF;9J;:JH;D:I7D:CED?JEH
9B7?CI:;L;BEFC;DJ
->;IF;9?;J>?H:F7HJO
7:C?D?IJH7JEHI7H;FHEL?:;:JE7D
79JK7HOM>E7II?IJIKI?D
FHE@;9J?D=7D79JK7H?7B;IJ?C7J;E<
J>;EL;H7BBKBJ?C7J;BEII;I?=>:;:K9J?8B;
FHE=H7CI->;FHE@;9J?ED?D9BK:;I
J>;97I;H;I;HL;IFBKI7D79JK7H?7B
;IJ?C7J;E;;IJ?C7J;I?DEKHI;B<
?DIKH7D9;B?78?B?J?;IJE9>7D=;
->;I;;IJ?C7J;I7H;IK8@;9JJE
9>7D=;I?DJ>;H;=KB7JEHO
;DL?HEDC;DJ;DKC8;H
E?9B;KD?JI7D:J>;;;H;I;HL;IH;B7J;:
JEI;B<?DIKH7D9;EH>?=>:;:K9J?8B;
FHE=H7CI;H?D9?:;DJI

M;C7O8;;NFEI;:JEIK8IJ7DJ?7B
BEII;I7H?I?D=7L;DEJC7:;7DO9>7D=;I?DJ>;799EKDJ?D=
C;J>E:EBE=OKI;:JE;IJ78B?I>EKHI;B<?DIKH7D9;
B?78?B?J?;I:KH?D=J>;F7IJJ>H;;O;7HI
;BEII:;L;BEFC;DJF7JJ;HDI7=7?DIJ
8;D9>C7HAI
7D:7FFBO?D=79JK7H?7BFHE@;9J?ED
C;J>E:IJE;IJ?C7J;J>;KBJ?C7J;BEII;I
M;
?D9H;7I;:EKHJEJ7BH;I;HL;IH;B7J;:JEFH?EHO;7HI
;BEII
7CEKDJI7IIE9?7J;:M?J>"'+B7?CI:KH?D=
8OC?BB?ED"D
M;:;9H;7I;:EKHJEJ7B
H;I;HL;IH;B7J;:JEFH?EHO;7HI9B7?CI8O
C?BB?ED
"J?IFEII?8B;J>7J79JK7BH;IKBJI9EKB::?<<;H7D=;?DEKHFHE@;9J;:
KBJ?C7J;BEII;IMEKB:>7L;7<<;9J;:D;J?D9EC;8O
7FFHEN?C7J;BOC?BB?ED6?ED
44@F?E:?8
(E2?52C5
*A52E6D
)@A:4
(F>>2CJ
7764E:G62E6
"6E9@5@75@AE:@?

,;=C;DJ+;FEHJ?D=
-EF?9
"CFHEL;C;DJIJE
+;FEHJ78B;,;=C;DJ
?I9BEIKH;I
->?I,.
?IIK;:?D'EL;C8;H
?CFHEL;IH;FEHJ78B;
I;=C;DJ:?I9BEIKH;H;GK?H;C;DJI
FH?C7H?BOJ>HEK=>
;D>7D9;::?I9BEIKH;I78EKJI?=D??I,.H;GK?H;I:?I9BEIKH;
ED7D7DDK7B7D:?DJ;H?C
87I?I
E7J7H;H;=KB7HBO
FHEL?:;:JEJ>;9>?;;HI;=C;DJ?J;CI8OH;FEHJ78B;I;=C;DJ
M?J>
7:;I9H?FJ?EDE;?CF79JE?I=K?:7D9;EDEKH?I,.?I;<<;9J?L;?D
;7HBO7:EFJ?ED
F;HC?JJ;:

"D9EC;-7N;I-EF?9
"CFHEL;C;DJIJE
"D9EC;-7N
?I9BEIKH;I
->?I,.
?IIK;:?D;9;C8;H
?I?DJ;D:;:JE;D>7D9;
J>;JH7DIF7H;D9O7D::;9?I?EDKI;;7C;D:C;DJI?DJ>?I,.7::H;II?DL;IJEH
H;GK;IJI7D9;:?D9EC;J7N?DHEK=>9>7D=;IJEJ>;H7J;H;9ED9?B?7J?ED7D:?D9EC;J7N;I
F7?:?D;?CF79JE<
?CFB;C;DJ?D=J>?I=K?:7D9;EDEKH?I,.?I;<<;9J?L;;7HBO7:EFJ?ED
F;HC?JJ;:

"D9EC;,J7J;C;DJU
+;FEHJ?D=
ECFH;>;DI?L;
"D9EC;UNF;DI;
?I7==H;=7J?ED
?I9BEIKH;I,K8JEF?9

?I7==H;=7J?EDE<
"D9EC;,J7J;C;DJ
NF;DI;I
->?I,.
?IIK;:?D'EL;C8;H
?I?DJ;D:;:JE?CFHEL;
;DEJ;IJEJ>;;?CF79JE<
?CFB;C;DJ?D=J>?I=K?:7D9;EDEKH?I,.?I;<<;9J?L;?D
;7HBO7:EFJ?ED
F;HC?JJ;:


)"	&*#)))+#&*!))+(!$(*'($*)"' )'( 	
0;>7L;C7HA;JH?IA;NFEIKH;H;B7J;:JE?DJ;H;IJH7J;I7D:7D=;H7J;I&7HA;JH?IA?I
C;7IKH;: 7I J>; FEJ;DJ?7B D;=7J?L; ?CF79J ED ;7HD?D=I
 97I> OFEJ>;J?97B
9>7D=;?D?DJ;H;IJH7J;IEH7D=;H7J;I
?E6C6DE'2E6':D<
0; 7H; FH?C7H?BO ;NFEI;: JE ?DJ;H;IJ H7J; H?IA J>HEK=> EKH L7H?78B; H7J; 8EHHEM?D=I KD:;H EKHC;D:;:
H;:?J79?B?JO
7I;H:;I9H?8;:?D'EJ;
WH;:?J79?B?JO
X?DJ>;?D7D9?7B,J7J;C;DJI.D:;HJ>;C;D:;:
H;:?J 79?B?JO
 J>; J;HC BE7D 7D: .,:EBB7H:;DEC?D7J;: 8EHHEM?D=I KD:;H J>; H;LEBL;H 8;7H ?DJ;H;IJ 7J 7 H7J;
;GK7BJEED;CEDJ>,(+FBKI7IFH;7:KHE7D:IJ;HB?D=:;DEC?D7J;:8EHHEM?D=IKD:;HJ>;H;LEBL;H8;7H7J
H7J;;GK7BJEJ>;.+"(+7D:,('"H;<;H;D9;H7J;I
H;IF;9J?L;BO
FBKI7IFH;7:J(9JE8;H

M;>7:
JEJ7BEKJIJ7D:?D=8EHHEM?D=IE<
C?BB?ED-EB?C?J;NFEIKH;JEKFM7H:CEL;C;DJI?D?DJ;H;IJH7J;I7IIE9?7J;:
M?J>EKH;?DJ;H;IJ
H7J;I ED 7 FEHJ?ED E< EKH EKJIJ7D:?D= 8EHHEM?D=I J (9JE8;H 
 
 M; >7: ?DJ;H;IJ H7J; IM7FI M?J> 7D
KD:;HBO?D=DEJ?ED7B7CEKDJE<C?BB?ED7D:;<7?HL7BK;E;?CF79JE<7D=;H7J;H?IAJ>HEK=>EKH.$7D:"H;B7D:EF;H7J?EDI
M>;H;J>;;H?J?I>FEKD:IJ;HB?D=W )X7D:KHEW.+X
H;IF;9J?L;BOIM;?DJ;D:JE
H;C7?DF;HC7D;DJBO?DL;IJ;:?DJ>;I;;:=?D=?DIJHKC;DJIJEC?J?=7J;7D=;H?IAI"7D=;EKH?DJ;DJM?J>H;IF;9JJEIK9>?DJ;HD7J?ED7B?DL;IJC;DJ
M;MEKB:;NF;9JJE
?CFB;C;DJ IJH7J;=?;I :;I?=D;: JE C7D7=; J>EI; H?IAI ?D 7D ;<; ;<<;9J E< 
-EJ>;,JE9A>EB:;HI7D:E7H:E<?H;9JEHI
&"D:KIJH?;I"D9EHFEH7J;:
 60405454:/,549520+(:,+04(4*0(2#:(:,3,4:9
0;>7L;7K:?J;:J>;799ECF7DO?D=9EDIEB?:7J;:87B7D9;I>;;JIE<&"D:KIJH?;I"D9EHFEH7J;:7D:IK8I?:?7H?;IJ>;ECF7DO
7IE<(9JE8;H
7D:
J>;H;B7J;:9EDIEB?:7J;:IJ7J;C;DJIE<9ECFH;>;DI?L;?D9EC;
IJE9A>EB:;HIV;GK?JO
7D:97I>
E;O;7HI?DJ>;J>H;;O;7HF;H?E:;D:;:(9JE8;H

7D:J>;H;B7J;:DEJ;I7D:;:KB;""9EBB;9J?L;BO
J>;9EDIEB?:7J;:;9EDIEB?:7J;:;;ECF7DO7IE<(9JE8;H
7D:
7D:J>;H;IKBJIEE;O;7HI?DJ>;J>H;;O;7HF;H?E:;D:;:(9JE8;H

?D9ED.,=;D;H7BBO
799;FJ;:799EKDJ?D=FH?D9?FB;I
0;7BIE>7L;7K:?J;:
?D799EH:7D9;M?J>J>;IJ7D:7H:IE;)K8B?9ECF7DO99EKDJ?D=(L;HI?=>JE7H:.D?J;:,J7J;I
)(
J>;ECF7DOVI?DJ;HD7B9EDJHEBEL;H;:?D4:,84(2
54:852A4:,.8(:,+8(3,=581	
?IIK;:8OJ>;ECC?JJ;;E<,FEDIEH?D=(H=7D?P7J?EDIE;-H;7:M7OECC?II?ED
7D:
EKHH;FEHJ:7J;:;9;C8;H

;NFH;II;:7DKDGK7B?;;<<;9J?L;D;IIE;ECF7DOVI?DJ;HD7B9EDJHEBEL;H
;I;9EDIEB?:7J;:;H;IFEDI?8?B?JOE;ECF7DOVIC7D7=;C;DJ(KHH;IFEDI?8?B?JO?IJE;NFH;II7D
EF?D?EDEDJ>;I;9EDIEB?:7J;:J>;
)(7D:7H;H;GK?H;:JE8;?D:;F;D:;DJM?J>H;IF;9JJEJ>;ECF7DO?D799EH:7D9;M?J>J>;.,<;:;H7BI;9KH?J?;IB7MI7D:
J>;7FFB?978B;HKB;I7D:H;=KB7J?EDIE;,;9KH?J?;I7D:N9>7D=;ECC?II?ED7D:J>;)(
0;9ED:K9J;:EKH7K:?JI?D799EH:7D9;M?J>J>;IJ7D:7H:IE;)(->EI;IJ7D:7H:IH;GK?H;J>7JM;FB7D7D:F;H;
7K:?JJEE8J7?DH;7IED78B;7IIKH7D9;78EKJM>;J>;HJ>;9EDIEB?:7J;:;J>;H:K;JE;HHEHEH;H?IAIE;
9EDIEB?:7J;:;J>;H:K;JE;HHEHEH7JH;IFED:JEJ>EI;H?IAI,K9>
FHE9;:KH;I?D9BK:;:;N7C?D?D=
ED7J;IJ87I?I
;L?:;D9;H;=7H:?D=J>;7CEKDJI7D::?I9BEIKH;I?DJ>;9EDIEB?:7J;:;799EKDJ?D=FH?D9?FB;IKI;:7D:I?=D?;EL;H7BBFH;I;DJ7J?EDE;9EDIEB?:7J;:7JEKH7K:?JIFHEL?:;7
H;7IED78B;87I?I;9H?J?97B7K:?JC7JJ;H9ECCKD?97J;:8;BEM?I7C7JJ;H7H?I?D=;9KHH;DJF;H?E:7K:?JE;9EDIEB?:7J;:7JM7I9ECCKD?97J;:EHH;GK?H;:JE8;9ECCKD?97J;:JEJ>;7K:?J9ECC?JJ;;7D:J>7JH;B7J;IJE799EKDJIEH
:?I9BEIKH;IJ>7J7H;C7J;H?7BJEJ>;9EDIEB?:7J;:7BB;D=?D=
IK8@;9J?L;
EH
9ECFB;N@K:=C;DJI->;9ECCKD?97J?EDE<79H?J?97B7K:?JC7JJ;H:E;IDEJ7BJ;H?D7DOM7OEKHEF?D?EDEDJ>;9EDIEB?:7J;:
EB;
7D:M;7H;DEJ
8O9ECCKD?97J?D=J>;9H?J?97B7K:?JC7JJ;H8;BEM
FHEL?:?D=7I;F7H7J;
EF?D?EDEDJ>;9H?J?97B7K:?JC7JJ;HEHEDJ>;799EKDJIEH:?I9BEIKH;IJEM>?9>?JH;B7J;I
&(2;(:0545-9,2-049;8(4*,20()020:0,9
I:?I9KII;:?D'EJ;I7D:JEJ>;9EDIEB?:7J;:;ECF7DOKI;I79EC8?D7J?EDE;87B7D9;E<97IK7BJOFHE=H7C?DIKH7D9;H;I;HL;I7IE<(9JE8;H


7CEKDJ;:JEC?BB?ED
7FEHJ?EDE?9>H;B7J;:JEMEHA;HIV9ECF;DI7J?ED7D:=;D;H7BB?78?B?JOI;B<?DIKH7D9;
B?78?B?J?;I->;ECF7DO;D=7=;I79JK7H?;IJE;IJ?C7J;?JII;B<?DIKH7D9;B?78?B?J?;I7JB;7IJ7DDK7BBO


0;?:;DJ?;;L7BK7J?EDE<9;HJ7?DMEHA;HIV9ECF;DI7J?ED7D:=;D;H7BB?78?B?JOI;B<?DIKH7D9;B?78?B?J?;I7I79H?J?97B
7K:?JC7JJ;H8;97KI;?J?DLEBL;I7>?=>:;=H;;E<@K:=C;DJ7D:79JK7H?7B;NF;HJ?I;JE7II;IIJ>;7FFB?97J?EDE<
79JK7H?7BCE:;BIKI;:7D:;IJ?C7J;:?D9KHH;:8KJDEJH;FEHJ;:9B7?CI87I;:ED7FFB?97J?EDE?IJEH?97B9B7?CI;NF;H?;D9;
->;;FH?C7HOFHE9;:KH;IM;F;H?I9H?J?97B7K:?JC7JJ;H0;;L7BK7J;:J>;:;I?=D7D:
J;IJ;:J>;EF;H7J?D=;<<;9J?L;D;IIE<9;HJ7?D?DJ;HD7B9EDJHEBIEL;HJ>;ECF7DOVII;B<?DIKH7D9;B?78?B?JOFHE9;II
?D9BK:?D=
9EDJHEBIH;B7J;:JE;L7BK7J?EDE<9B7?CI?D;79JK7HO
;IJ?C7J?EDE;7FFB?97J?EDE?IJEH?97B9B7?CI;NF;H?;D9;
7D:;L7BK7J?EDE;
79JK7H?7BH;FEHJ7D:J>;;NJ;HD7B79JK7H?7BIF;9?7B?IJVIGK7B?;ECF7DOVI
>?IJEH?97B78?B?JOJE;IJ?C7J;I;B<?DIKH7D9;B?78?B?J?;I8O9ECF7H?D=J>;FH?EHO;7HH;9EH:;:7CEKDJIJEJ>;IK8I;GK;DJ
9B7?C:;L;BEFC;DJ0;J;IJ;:7I7CFB;E;9B7?CI:7J7KJ?B?P;:8OJ>;ECF7DOVI79JK7H?;I8O9ECF7H?D=?JJE
KD:;HBO?D=9B7?CI:;J7?BI7D:?DLEBL;:7D79JK7H?7BFHE<;II?ED7BM?J>IF;9?7B?P;:IA?BBI7D:ADEMB;:=;M>E7II?IJ;:?DJ>;
[
7II;IIC;DJE;7FFB?97J?EDE;79JK7H?7BCE:;BIKI;:8OJ>;ECF7DO=;D;H7BBO
799;FJ;:79JK7H?7BIJ7D:7H:I7D:
[
:;L;BEFC;DJE<7D79JK7H?7B;IJ?C7J;E;ECF7DOVIKD:;HBO?D=>?IJEH?97B
F7?:7D:?D9KHH;:BEII:7J7J>;B?78?B?J?;IH;9EH:;:8OJ>;ECF7DO

I
$)& %%)
0;>7L;I;HL;:7IJ>;ECF7DOVI7K:?JEHI?D9;
';M2EHA
';M2EHA
;9;C8;H



'6A@CE@7?56A6?56?E'68:DE6C65%F3=:444@F?E:?8:C>
-EJ>;,JE9A>EB:;HI7D:E7H:E<?H;9JEHI
&"D:KIJH?;I"D9EHFEH7J;:
 604054544:,84(254:852 <,804(4*0(2",658:04.
0;>7L;7K:?J;:&"D:KIJH?;I"D9EHFEH7J;:7D:IK8I?:?7H?;IVJ>;ECF7DO?DJ;HD7B9EDJHEBEL;H;:?D4:,84(254:852A4:,.8(:,+8(3,=581	
?IIK;:8OJ>;ECC?JJ;;E<
,FEDIEH?D=(H=7D?P7J?EDIE;-H;7:M7OECC?II?ED"DEKHEF?D?ED
J>;ECF7DOC7?DJ7?D;:
?D7BBC7J;H?7BH;IF;9JI

;<<;9J?L;?DJ;HD7B9EDJHEBEL;H;:?D4:,84(254:852A
4:,.8(:,+8(3,=581	
?IIK;:8OJ>;ECC?JJ;;E<,FEDIEH?D=(H=7D?P7J?EDIE;-H;7:M7OECC?II?ED
0;7BIE>7L;7K:?J;:
?D799EH:7D9;M?J>J>;IJ7D:7H:IE;)K8B?9ECF7DO99EKDJ?D=(L;HI?=>JE7H:.D?J;:,J7J;I
)(
J>;9EDIEB?:7J;:87B7D9;I>;;JIE;ECF7DO7IE<(9JE8;H
7D:
J>;H;B7J;:9EDIEB?:7J;:IJ7J;C;DJI
E<9ECFH;>;DI?L;?D9EC;
IJE9A>EB:;HIV;GK?JO
7D:97I>E;O;7HI?DJ>;J>H;;O;7HF;H?E:;D:;:(9JE8;H


7D:J>;H;B7J;:DEJ;I7D:;:KB;""9EBB;9J?L;BO
J>;9EDIEB?:7J;:EI;9EDIEB?:7J;:;ECF7DOVIC7D7=;C;DJ?IH;IFEDI?8B;;;<<;9J?L;D;IIE;799ECF7DO?D=&7D7=;C;DJVI+;FEHJ
ED"DJ;HD7BEDJHEB(L;H?D7D9?7B+;FEHJ?D=(KHH;IFEDI?8?B?JO?IJE;NFH;II7DEF?D?EDEDJ>;ECF7DOVI?DJ;HD7B9EDJHEBEL;H
J>;)(7D:7H;H;GK?H;:JE8;
?D:;F;D:;DJM?J>H;IF;9JJEJ>;ECF7DO?D799EH:7D9;M?J>J>;.,<;:;H7BI;9KH?J?;IB7MI7D:J>;7FFB?978B;HKB;I7D:
H;=KB7J?EDIE;,;9KH?J?;I7D:N9>7D=;ECC?II?ED7D:J>;)(
0;9ED:K9J;:EKH7K:?J?D799EH:7D9;M?J>J>;IJ7D:7H:IE;)(->EI;IJ7D:7H:IH;GK?H;J>7JM;FB7D7D:F;H;
7K:?JJEE8J7?DH;7IED78B;7IIKH7D9;78EKJM>;J>;H;<<;9J?L;?DJ;HD7B9EDJHEBEL;H;H?IAJ>7J7C7J;H?7BM;7AD;II;N?IJI
7D:J;IJ?D=7D:;L7BK7J?D=J>;:;I?=D7D:EF;H7J?D=;<<;9J?L;D;IIE<
?DJ;HD7B9EDJHEB87I;:EDJ>;7II;II;:H?IA(KH7K:?J7BIE?D9BK:;:F;HEJ>;HFHE9;:KH;I7IM;9EDI?:;H;:
D;9;II7HO?DJ>;9?H9KCIJ7D9;I0;8;B?;L;J>7JEKH7K:?JFHEL?:;I7H;7IED78B;87I?I;
H;B?78?B?JOE<;FH;F7H7J?EDE<=;D;H7BBO
799;FJ;:799EKDJ?D=FH?D9?FB;I9ECF7DOVI?DJ;HD7B9EDJHEBEL;HEI;FEB?9?;I7D:FHE9;:KH;IJ>7J
F;HJ7?DJEJ>;C7?DJ;D7D9;E7J
?DH;7IED78B;:;J7?B
799KH7J;BO7D:<7?HBOH;;JH7DI79J?EDI7D::?IFEI?J?EDIE<
J>;7II;JIE;9ECF7DOFHEL?:;H;7IED78B;7IIKH7D9;J>7JJH7DI79J?EDI7H;H;9EH:;:7ID;9;II7HOJEF;HC?JFH;F7H7J?EDE<
=;D;H7BBO799;FJ;:799EKDJ?D=FH?D9?FB;I
7D:J>7JH;9;?FJI7D:;NF;D:?JKH;IE;
9ECF7DO7H;8;?D=C7:;EDBO?D799EH:7D9;M?J>7KJ>EH?P7J?EDIE;9ECF7DO7D:FHEL?:;
H;7IED78B;7IIKH7D9;H;=7H:?D=FH;L;DJ?EDEHJ?C;BO:;J;9J?EDEEH?P;:79GK?I?J?ED
KI;
EH:?IFEI?J?EDE;9ECF7DOVI
7II;JIJ>7J9EKB:>7L;7C7J;H?7B;<<;9JEDJ>;;H;DJB?C?J7J?EDI
?DJ;HD7B9EDJHEBEL;H;H?IAJ>7J9EDJHEBIC7O8;9EC;?D7:;GK7J;
8;97KI;E<9>7D=;I?D9ED:?J?EDI
EHJ>7JJ>;:;=H;;E<9ECFB?7D9;M?J>J>;FEB?9?;IEHFHE9;:KH;IC7O:;J;H?EH7J;

I
$)& %%)
';M2EHA
';M2EHA
;9;C8;H



"#*()'(#$'%$')#(*('(
$#($!)!#()(
$4E@36C

		
		
	







(()(
KHH;DJ7II;JI
7I>7D:97I>;GK?L7B;DJI

 

-H7:;799EKDJIH;9;?L78B;
D;JE<7BBEM7D9;IE<7D:7J
(9JE8;H
7D:
H;IF;9J?L;BO


 


EIJI?D9KHH;:?D;N9;IIE<7CEKDJI8?BB;:

 

)H;F7?:;NF;DI;I

 

(J>;H9KHH;DJ7II;JI

 

-EJ7B9KHH;DJ7II;JI


 


(J>;H?DL;IJC;DJI

 

)HEF;HJO
FB7DJ7D:;GK?FC;DJ
D;JE<799KCKB7J;::;FH;9?7J?EDE<7D:
7J(9JE8;H
7D:
H;IF;9J?L;BO

 

+?=>JE<KI;7II;JI

 

(J>;H?DJ7D=?8B;7II;JI
D;JE<799KCKB7J;:7CEHJ?P7J?EDE<7D:
7J(9JE8;H
7D:
H;IF;9J?L;BO

 

 EE:M?BB


 


(J>;HDED9KHH;DJ7II;JI

 

-EJ7B7II;JI


 


!!)(#()$ $!'(M&*).
KHH;DJB?78?B?J?;I
KHH;DJFEHJ?EDE<:;8J
D;J

 

-H7:;799EKDJIF7O78B;

 

99HK;:9ECF;DI7J?ED

 

99HK;:J7N;IUEJ>;HJ>7D?D9EC;

 

;<;HH;:H;L;DK;

 

"DIKH7D9;9B7?CI

 

"D9EC;J7N;IF7O78B;

 

KHH;DJFEHJ?EDE;H799HK;:B?78?B?J?;I

 

-EJ7B9KHH;DJB?78?B?J?;I


 


%ED=J;HC:;8J
D;J


 


%ED=J;HCB;7I;B?78?B?J?;I

 

;<;HH;:?D9EC;J7NB?78?B?JO
D;J

 

'ED9KHH;DJ?DIKH7D9;9B7?CI

 

(J>;HDED9KHH;DJB?78?B?J?;I

 

'ED9KHH;DJ?D9EC;J7N;IF7O78B;

 

-EJ7BB?78?B?J?;I


 


ECC?JC;DJI7D:9EDJ?D=;D9?;I
(E@4<9@=56CDMBF:EJ
)H;<;HH;:IJE9A
F7HL7BK;
I>7H;I7KJ>EH?P;:DED;?IIK;:

U 
U
ECCEDIJE9A
F7HL7BK;

I>7H;I7KJ>EH?P;:


7D:

I>7H;I?IIK;:7D:EKJIJ7D:?D=7J
(9JE8;H
7D:
H;IF;9J?L;BO

 

::?J?ED7BF7?:?D97F?J7B

 

99KCKB7J;:EJ>;H9ECFH;>;DI?L;BEII
D;JEEB:;HIV;GK?JO


 


-EJ7BB?78?B?J?;I7D:IJE9A>EB:;HIV;GK?JO


 


,;;799ECF7DO?D=DEJ;IJE9EDIEB?:7J;:6

 
 

(J>;H9ECFH;>;DI?L;BEII
?D9EC;
"DJ;H;IJH7J;IM7FI

 
 

EH;?=D9KHH;D9OJH7DIB7J?ED7D:EJ>;H

 
 

"D9EC;J7NFHEL?I?ED

 
 

@>AC696?D:G6:?4@>6

 
 

#6E:?4@>6A6C4@>>@?D92C6
7I?9

 
 

?BKJ;:

 
 

,6:89E652G6C2864@>>@?2?54@>>@?6BF:G2=6?ED92C6D
@FEDE2?5:?8
7I?9

 
 

?BKJ;:

 
 

,;;799ECF7DO?D=DEJ;IJE9EDIEB?:7J;:@F?E
(92C6D
>@F?E
(92C6D
>@F?E
@>>@?(E@4<
7B7D9;
8;=?DD?D=E7I;7D:I>7H;87I;:
9ECF;DI7J?EDFB7DI



U



U



U
+;FKH9>7I;E<9ECCEDIJE9A
?D9BK:?D=;N9?I;J7N;I

 
U

 
 
 
U
7B7D9;
;D:E>;B:KD:;H;CFBEO;;IJE9AFKH9>7I;7D:I>7H;
87I;:9ECF;DI7J?EDFB7DI
D;J






,>7H;87I;:9ECF;DI7J?ED;NF;DI;






+;FKH9>7I;E<9ECCEDIJE9A
?D9BK:?D=;N9?I;J7N;I






7B7D9;
;D:EF=2E65$E96C@>AC696?D:G6!@DD#6E@7)2I6D
7B7D9;
8;=?DD?D=E;H9ECFH;>;DI?L;BEII
?D9EC;






7B7D9;
;D:E7H;






,JE9A?IIK;:KD:;HI>7H;87I;:9ECF;DI7J?EDFB7DI






7B7D9;
;D:E@A6C2E:?824E:G:E:6D
';J?D9EC;






5;FDE>6?EDE@C64@?4:=6?6E:?4@>6E@?6E42D9AC@G:565
3J@A6C2E:?824E:G:E:6D
;FH;9?7J?ED7D:7CEHJ?P7J?ED






;<;HH;:?D9EC;J7N;I

 
 

,>7H;87I;:9ECF;DI7J?ED;NF;DI;






)HEL?I?ED;H9ECFH;>;DI?L;=7?DED?DJ;H;IJH7J;IM7FI
U

U


?I9EKDJ799H;J?EDED?DIKH7D9;9B7?CI





 7?DEDI7B;E<7II;JI
 
 

"D9EC;7D=;?D<7?HL7BK;E<9EDJ?D=;DJ9EDI?:;H7J?ED




U
>7D=;I?DEF;H7J?D=7II;JI7D:B?78?B?J?;I
D;JE<;<<;9JIE<79GK?I?J?EDI
-H7:;799EKDJIH;9;?L78B;7D:9EIJI?D9KHH;:?D;N9;IIE<7CEKDJI8?BB;:

 
 

)H;F7?:;NF;DI;I7D:EJ>;H9KHH;DJ7II;JI

 
 

+?=>JE<KI;7II;JI






(J>;HDED9KHH;DJ7II;JI

 



-H7:;799EKDJIF7O78B;7D:EJ>;H799HK;:B?78?B?J?;I

 
 

%ED=J;HCB;7I;B?78?B?J?;I
 
 

"DIKH7D9;9B7?CI






"D9EC;J7N;IF7O78B;
 



(J>;HDED9KHH;DJB?78?B?J?;I
 



-EJ7B7:@KIJC;DJI



 

#6E42D9AC@G:5653J@A6C2E:?824E:G:E:6D






2D97=@HD7C@>:?G6DE:?824E:G:E:6D
::?J?EDIJEFHEF;HJO
FB7DJ7D:;GK?FC;DJ

 
 

)HE9;;:I7I;E<8KI?D;II
D;JE<97I>79GK?H;:

 
U


#6E42D9FD65:?:?G6DE:?824E:G:E:6D

 
 

2D97=@HD7C@>7:?2?4:?824E:G:E:6D
-7N;IM?J>>;B:7H;87I;:9ECF;DI7J?ED7M7H:I
D;J
 
 

+;FKH9>7I;IE<9ECCEDIJE9A
?D9BK:?D=;N9?I;J7N;I

 
 

?L?:;D:IF7?:

 
 

EHHEM?D=I7D=;I?D8EEA97I>EL;H:H76?E2=42D97=@H:?7@C>2E:@?
"D9EC;J7NF7OC;DJI
D;J






"DJ;H;IJF7?:ED9H;:?J<79?B?JO






,;;799ECF7DO?D=DEJ;IJE9EDIEB?:7J;:7C?II?EDJE>2<625:776C6?466G6CJA6CD@?
6G6CJ52J0;7H;EH=7D?P;:?DJED?97B,EBKJ?EDII;=C;DJ
->HEK=>J>;I;=HEKFI
M;E<<;H@7D?JEH?7B
<79?B?J?;I;D=?D;;H?D=
F7HA?D=
7D:IF;9?7B?P;:C;9>7D?97B7D:
;B;9JH?97BJ;9>D?97BIEBKJ?EDI
ED7IJ7D:7BED;87I?IEH?D9EC8?D7J?EDM?J>EJ>;HI;HL?9;I

	(($%'(#))$##(##)$*#)#%$!(
2D:D@7%C6D6?E2E:@?2?5%C:?4:A=6D@7@?D@=:52E:@?
->; ?D7D9?7B ,J7J;C;DJI >7L; 8;;D FH;F7H;: ?D 799EH:7D9; M?J> .D?J;: ,J7J;I =;D;H7BBO 799;FJ;:
799EKDJ?D=FH?D9?FB;IW., )X7D:M?J>J>;HKB;I7D:H;=KB7J?EDIE;,
IF;9?;?DIJHK9J?EDIJEEHC$.DB;IIEJ>;HM?I;?D:?97J;:
7BBH;<;H;D9;IJEO;7HI7H;JEEKH?9>;D:I
ED(9JE8;H
->;?D7D9?7B,J7J;C;DJI?D9BK:;J>;799EKDJIE<&7D:7BBE;;GK?JOC;J>E:E<799EKDJ?D=0;?D9BK:;J>;H;IKBJIE<
79GK?H;:8KI?D;II;I?DJ>;EDIEB?:7J;:,J7J;C;DJIE<ECFH;>;DI?L;"D9EC;;?HH;IF;9J?L;79GK?I?J?ED
:7J;IBB?DJ;H9ECF7DO799EKDJI7D:JH7DI79J?EDI>7L;8;;D;B?C?D7J;:?D9EDIEB?:7J?ED
->; FH;F7H7J?ED E< 9EDIEB?:7J;:  .,  ) H;GK?H;I EKH
C7D7=;C;DJ JE C7A; 9;HJ7?D ;IJ?C7J;I J>7J 7<<;9J H;FEHJ;: 7CEKDJI 0; 87I; EKH ;IJ?C7J;I ED >?IJEH?97B
;NF;H?;D9;
ADEMDEH;NF;9J;:JH;D:I
?D:;F;D:;DJL7BK7J?EDI
7D:L7H?EKIEJ>;H7IIKCFJ?EDIJ>7JM;8;B?;L;JE
8;H;7IED78B;KD:;HJ>;9?H9KCIJ7D9;II;?H;<<;9JI97DDEJ8;:;J;HC?D;:M?J>FH;9?I?ED

79JK7BH;IKBJI9EKB::?<<;HI?=D?;I;;IJ?C7J;I
0;HEKD:7CEKDJI?DJ>;?D7D9?7B,J7J;C;DJIJEC?BB?EDI7D:97B9KB7J;7BBF;H9;DJ7=;I7D:F;HI>7H;:7J7
;KD:;HBO?D=M>EB;:EBB7H7CEKDJI->KI
9;HJ7?D7CEKDJIC7ODEJ?=>BOB?GK?:I;9KH?J?;IM?J>7DEH?=?D7BC7JKH?JOEH;;CEDJ>IEHB;IIJE8;97I>7D:97I>
;GK?L7B;DJIIF7HJEC7D7=;C;DJIOIJ;C
M;KI;WP;HE87B7D9;X799EKDJIJE?IIOIJ;C
7JJ>;;D:E<;79>:7OJ>;87DA87B7D9;?IP;HE
M>?B;J>;8EEA87B7D9;?IKIK7BBO7D;=7J?L;
7CEKDJ:K;JEH;9ED9?B?D=?J;CI
IK9>7IEKJIJ7D:?D=9>;9AI0;H;FEHJJ>;9>7D=;I?DJ>;I;8EEA97I>EL;H:H7@F?ED:==65
-H7:;799EKDJIH;9;?L78B;7H?I;;?DLE?9;JED;J:7OI
M?J>J>;;N9;FJ?EDE<9;HJ7?D-;9>D?97B,EBKJ?EDIFHE@;9J
H;9;?L78B;IJ>7JC7O>7L;BED=;H9EBB;9J?EDF;H?E:I->;I;H;9;?L78B;I7H;H;9EH:;:7JJ>;?DLE?9;:7CEKDJ7D:
DEHC7BBO :E DEJ 8;7H ?DJ;H;IJ "D 7::?J?ED
 EKH JH7:; 799EKDJI H;9;?L78B; ?D9BK:; KD8?BB;: H;9;?L78B;I
 IK9> 7I
?DLE?9;I7J>7L;8;;DFHEL?:;:8KJ7H;DEJO;J8?BB;:


EIJI?D9KHH;:?D;N9;IIE<7CEKDJI8?BB;:7H?I;D?97B,EBKJ?EDIFHE@;9J9EDJH79JIJ>7JJOF?97BBO
FHEL?:;;:KB;E<8?BB?D=IEH?DLE?9;IJEJ>;9B?;DJ87I;:EDEKHF;H;H;DJ
?DJ>;;I9>;:KB;I8?BB?D=IKIK7BBO:EDEJFH;9?I;BOC7J9>J>;
I9>;:KB; ED M>?9> 9EIJI 7H; ?D9KHH;:I 7 H;IKBJ
 H;L;DK;I =;D;H7BBO :?<<;H 7J 97D 8; 8?BB;: EH
?DLE?9;:JEJ>;9B?;DJ7J7DOFE?DJ:KH?D=J>;9EDJH79J
225=(4*,-585;):-;2**5;4:9
0;:;J;HC?D;J>;7BBEM7D9;?IJEH?97BMH?J;E<;?:;DJ?;IF;9?
J>;H;I;HL;KFEDJ>;;7HB?;HE<79B?;DJVI?D78?B?JOJEC;;J?JII

KDB;IIEKHC7D7=;C;DJ8;B?;L;IIK9>7CEKDJIM?BBKBJ?C7J;BO8;9EBB;9J?8B;
#(2,9225=(4*,
"D9EDD;9J?EDM?J>EKHI;HL?9;9EDJH79JI
M;F;H?E:?97BBO?IIK;9H;:?JC;CEIJEEKH9B?;DJIJ>7J7H;H;9EH:;:
7I7H;:K9J?ED?DH;L;DK;I7D:7D?D9H;7I;JEJ>;7BBEM7D9;;I;9H;:?JI97DH;IKBJ;H ?J;CI 0; ;IJ?C7J; EKH FEJ;DJ?7B ;I;9B?;DJH;9;?L78B;I87I;:ED7D7D7BOI?IE;>?IJEH?97BH7J;E;H 9KHH;DJ 7II;JI FH?C7H?BO 9EDI?IJ;: E< EJ>;H H;9;?L78B;I
 I>EHJJ;HC
?DIKH7D9;H;9EL;H78B;I
7D:97F?J7B?P;:9ECC?II?EDI
$E96C?G6DE>6?ED
J(9JE8;H
7D:
EJ>;H?DL;IJC;DJIFH?C7H?BO9EDI?IJ;:E7H=;IEDJ>;I;?DL;IJC;DJI?D

EH
%C@A6CEJ%=2?E2?5BF:A>6?E
0;H;9EH:FHEF;HJO
FB7DJ7D:;GK?FC;DJ7J9EIJ+;F7?HI7D:C7?DJ;D7D9;;NF;D:?JKH;I7H;;NF;DI;:7I
?D9KHH;:"D9EDJH7IJ
M;97F?J7B?P;C7@EHH;D;M7BIEHH;FB79;C;DJIJ>7JIK8IJ7DJ?7BBO;NJ;D:J>;KI;;IJH7?=>JB?D;C;J>E:EL;HJ>;?D;HO7D:EJ>;H;GK?FC;DJ
T
-H7DIFEHJ7J?ED;GK?FC;DJ
T
K?B:?D=I
T
KHD?JKH;7D:EB: ?CFHEL;C;DJI EL;H J>; I>EHJ;H E<
J>;?H;IJ?C7J;:KI;;H;C7?D?D=B;7I;J;HC.FEDH;J?H;C;DJEHI7B;E<7D7II;J
M;H;CEL;J>;9EIJ
7D:799KCKB7J;::;FH;9?7J?ED;;JI0>;D7FFB?978B;
M;H;9EH:9EHH;IFED:?D=
=7?DIEHBEII;IM?J>?DJ>;799ECF7DO?D=EDIEB?:7J;:,J7J;C;DJIE<ECFH;>;DI?L;"D9EC;
!62D6D
0; 799EKDJ  ,. 
 ,(9,9 -EF?9  -EF?9  H;GK?H;I
B;II;;IJEH;9E=D?P;IK8IJ7DJ?7BBO7BBB;7I;IEDJ>;?H87B7D9;I>;;J7I7H?=>JE<KI;W+(.X7II;J7D:7B;7I;
B?78?B?JO0;C7:;J>;799EKDJ?D=FEB?9O;B;9J?EDJEDEJH;9E=D?P;B;7I;IM?J>7D?D?J?7BJ;HCE<CEDJ>IEHB;IIED


J>;87B7D9;I>;;J7D:M?BB;NF;DI;F7OC;DJIB;7I;IED7IJH7?=>JB?D;87I?IEL;HJ>;B;7I;J;HC0;7BIE
;B;9J;:JEDEJI;F7H7J;B;7I;9ECFED;DJIEKI;I

L;>?9B;I
 7D: ;GK?FC;DJ KI;: ?D J>; DEHC7B 9EKHI; E< 8KI?D;II 0; :;J;HC?D; ?< 7D 7HH7D=;C;DJ ?I 7 B;7I; 7J
?D9;FJ?ED 7D: 8;=?D H;9EH:?D= B;7I; 79J?L?JO 7J J>; 9ECC;D9;C;DJ :7J; +(. 7II;JI 7D: B;7I; B?78?B?J?;I 7H;
H;9E=D?P;:87I;:EDJ>;FH;I;DJL7BK;E;B;7I;J;HCM?J>B;7I;;NF;DI;H;9E=D?P;:ED7
IJH7?=>JB?D;87I?I->;FH;I;DJL7BK;E<;?CFB?9?JH7J;?DJ>;B;7I;?IH;7:?BO:;J;HC?D78B;(KH"+?I;GK7BJEEKHH7J;E?I"+?I7FFB?;:JEJ>;C?D?CKCB;7I;F7OC;DJIM?J>?D;79>B;7I;7=H;;C;DJJE:;J;HC?D;
J>;7CEKDJIE;D?J?IH;7IED78BO9;HJ7?DJ>7JM;M?BB;N;H9?I;J>7JEFJ?ED7D:M>;D
:E?D=IE?I7JEKHIEB;:?I9H;J?ED;HJ7?D;GK?FC;DJ7D:L;>?9B;B;7I;IC7O7BIE?D9BK:;EFJ?EDIJEFKH9>7I;J>;
B;7I;:FHEF;HJO->;:;FH;9?78B;B?<;E<7II;JI7D:B;7I;>EB:?CFHEL;C;DJI7H;B?C?J;:8OJ>;;NF;9J;:B;7I;J;HC

KDB;IIJ>;H;?I7JH7DI<;HE7I;EFJ?EDH;7IED78BO9;HJ7?DE<;N;H9?I;-OF?97BBO
?;;D:E;DM;MEKB:EM;J>;B;IIEHJ>;H;C7?D?D=B;7I;F7OC;DJIKD:;H
J>;J;HCEB;7I;(KHB;7I;7=H;;C;DJI=;D;H7BBO:EDEJ9EDJ7?D7DOC7J;H?7BH;I?:K7BL7BK;=K7H7DJ;;IEH
C7J;H?7BH;IJH?9J?L;9EL;D7DJI0;C7OH;DJEHIK8B;7I;9;HJ7?DH;7B;IJ7J;7II;JIJ>7JM;DEBED=;HKI;JEJ>?H:
F7HJ?;I
%;7I; 7=H;;C;DJI C7O 9EDJ7?D H;DJ ;I97B7J?ED 9B7KI;I
 H;DJ >EB?:7OI
 EH 9;HJ7?D B7D:BEH: ?D9;DJ?L;I

?D9BK:?D= J;D7DJ ?CFHEL;C;DJ 7BBEM7D9;I +(. 7II;JI ?D9BK:; 7CEKDJI ;:KB;: H;DJ ?D9H;7I;I 7D: 7H;
H;:K9;:8OB;7I;?D9;DJ?L;7CEKDJI
;HJ7?D E< EKH B;7I; 7=H;;C;DJI ?D9BK:; L7H?78B; H;DJ F7OC;DJI 9EDI?IJ?D= FH?C7H?BO E< H;DJ7B F7OC;DJI
7:@KIJ;:F;H?E:?97BBO;I;9EIJI7H;;NF;DI;:7I?D9KHH;:;HJ7?DE7J7H;7F;H9;DJ7=;E7JIF;9?;B;7I;B?78?B?JO
,;HL?9;9ED9;II?ED7HH7D=;C;DJIM?J>?DJ>;I9EF;E<,.'E
#,8<0*,54*,9905488(4.,3,4:9
$560*,:,830404.:/,;9:53,85-:/, 6,8(:054#,8<0*,9
7H;;N9BK:;:;I9EF;E<-EF?9+;DJ
;NF;DI;I7IIE9?7J;:M?J>J>;I;7HH7D=;C;DJI7H;H;9EH:;:7I7H;:K9J?EDE;H:?I9KII?ED
@@5H:==2?5$E96C?E2?8:3=6DD6ED
 EE:M?BB H;FH;I;DJI J>; ;N9;II FKH9>7I; FH?9; E< 79GK?H;: 8KI?D;II;I EL;H J>; <7?H L7BK; E< J>; 7II;JI
79GK?H;:7D:B?78?B?J?;I7IIKC;:0;>7L;;B;9J;:JEC7A;J>;GK7HJ;H
K=KIJ
J>;7DDK7B
?CF7?HC;DJ7II;IIC;DJ:7J;;H;9EL;H78?B?JOE<=EE:M?BB
CEH;E;H 7 GK7B?J7J?L; ;L7BK7J?ED EH 7 GK7DJ?J7J?L; J;IJ ->; GK7B?J7J?L; ;L7BK7J?ED ?I 7D 7II;IIC;DJ E< <79JEHI JE
:;J;HC?D;M>;J>;H?J?ICEH;B?A;BOJ>7DDEJJ>7JJ>;<7?HL7BK;E<7H;FEHJ?D=KD?J?IB;IIJ>7D?JI97HHO?D=7CEKDJ0;
C7O ;B;9J DEJ JE F;H; GK7B?J7J?L; 7II;IIC;DJ ?9>M;;IJ?C7J;J>;<7?HL7BK;KI?D=7M;?=>J?D=E<<7?HL7BK;I:;H?L;:7D:7C7HA;J7FFHE79>->;:?I9EKDJ;:;IJ?C7J;IE< 7I H;L;DK; =HEMJ> H7J;I
 EF;H7J?D= C7H=?DI
 M;?=>J;: 7L;H7=; 9EIJ E< 97F?J7B
 7D: ;H ?DJ7D=?8B; 7II;JI FH?C7H?BO 9EDI?IJ E< 79GK?H;: 9KIJEC;H 9EDJH79JI 7D: H;B7J?EDI>?FI J>7J 7H;
7CEHJ?P;:KI?D=J>;IKCE<J>;O;7HIV:?=?JIC;J>E:EL;HJ>;?HKI;J>;;IJ?C7J;:KI;;:;J;HC?D7J?EDE;?H<7?HL7BK;I->?I799;B;H7J;:C;J>E:E<7CEHJ?P7J?EDH;;
F7JJ;HD ?D M>?9> J>; ;9EDEC?9 8;D;; ?DJ7D=?8B; 7II;JI E< 9KIJEC;H 9EDJH79JI 7D: H;B7J?EDI>?FI 7H;
;NF;9J;: JE 8; H;7B?P;: 0; 7CEHJ?P; EJ>;H DED9KIJEC;H 79GK?H;: ?DJ7D=?8B;I KI?D= 7 IJH7?=>JB?D; C;J>E: E<
7CEHJ?P7J?ED0;;L7BK7J;EJ>;H?DJ7D=?8B;7II;JI
7IM;BB7IEKHBED=B?L;:7II;JI
;D;L;H;L;DJI
EH9>7D=;I?D9?H9KCIJ7D9;I?D:?97J;J>7JJ>;97HHO?D=7CEKDJE7II;JIC7ODEJ8;H;9EL;H78B;0>;DJ>?I
E99KHI
7H;9EL;H78?B?JOJ;IJ?IF;H7J9ECF7H;IJ>;FHE@;9J;:KD:?I9EKDJ;:97I>;KI;7D:
;L;DJK7B:?IFEI?J?EDE<7D7II;JEH7II;J=HEKFJE?JI97HHO?D=7CEKDJ";FHE@;9J;:KD:?I9EKDJ;:97I>7DJ>;97HHO?D=7CEKDJ
J>;DM;97B9KB7J;7D?CF7?HC;DJBEII->;?CF7?HC;DJBEII97B9KB7J?ED9ECF7H;IJ>;
<7?HL7BK;
M>?9>?I87I;:EDFHE@;9J;::?I9EKDJ;:97I>;97HHO?D=L7BK;
,;; 'EJ; 
 W EE:M?BB 7D: (J>;H "DJ7D=?8B;II;JI
X ;H ?D;H ?DJ7D=?8B;
7II;JI
7D:?CF7?HC;DJ9>7H=;I
$E96C#@?4FCC6?EDD6ED
J (9JE8;H 
  7D: 
 EJ>;H DED9KHH;DJ 7II;JI FH?C7H?BO 9EDI?IJ;: E< BED=J;HC ?DIKH7D9;
H;9EL;H78B;I
9BEK:9ECFKJ?D=7HH7D=;C;DJI
97F?J7B?P;:9ECC?II?EDI
?DJ;H;IJH7J;IM7F7II;JI
FH;F7OC;DJIJE
97HH?;HI2?46@?EC24E'646:G23=6D
IF7HJED?97B,EBKJ?EDI8KI?D;II
M;;DJ;H?DJE,)IM?J>J>;<;:;H7B=EL;HDC;DJFKHIK7DJJE
M>?9>M;7=H;;JE:;L;BEF
:;I?=D
;D=?D;;H
7D:9EDIJHK9J7FHE@;9J7D:JE=K7H7DJ;;J>7JJ>;FHE@;9JM?BBI7J?I; 7CEKDJ JE 8; F7?: 8O L7H?EKI <;:;H7B
=EL;HDC;DJ7=;D9?;I7L;I7J?I<79JEH?BOF;HJIJEH;9;?L;J>EI;F7OC;DJIJEKD7<?H:F7HJ?;IJ>7JFHEL?:;9EDIJHK9J?ED?9>M;H;9EH:7I
7B?78?B?JO
9EDJH79JI->?I9EDIJHK9J?ED?B;J>;
KI;E;97I>H;9;?L;:JEF7OFHE@;9J9EIJIKD:;HJ>;I;7HH7D=;C;DJI?I9B7II?;
,)H;9;?L78B;?IH;9E=D?P;:7IH;L;DK;7I;79>FHE@;9J?I9EDIJHK9J;:.FED9ECFB;J?ED7D:799;FJ7D9;E;
FHE@;9J 8O J>; =EL;HDC;DJ 7D: KFED I7J?I<79J?ED E< JHK; I7B; 9H?J;H?7
 J>; 7II?=D;: ,) H;9;?L78B; ;
=EL;HDC;DJ7D:9EHH;IFED:?D=,)B?78?B?JO7H;;B?C?D7J;:6?ED
7?HL7BK;?IJ>;FH?9;M;MEKB:H;9;?L;JEI;BB7D7II;JEHF7OJEJH7DI<;H7B?78?B?JO?D7DEH:;HBOJH7DI79J?ED
M?J>7C7HA;JF7HJ?9?F7DJ7JJ>;C;7IKH;C;DJ:7J;"DJ>;78I;D9;E<79J?L;C7HA;JIC;7IKH;C;DJI?DLEBL;:;L;BEF?D=7IIKCFJ?EDI87I;:EDC7HA;JE8I;HL78B;:7J77D:
?DJ>;78I;D9;E
:7J7
?DJ;HD7B?D7J?I9EDI?IJ;DJM?J>M>7JC7HA;JF7HJ?9?F7DJIMEKB:KI;?D7>OFEJ>;J?97BJH7DI79J?EDJ>7J
E99KHI7JJ>;C;7IKH;C;DJ:7J;
(8I;HL78B;?DFKJIH;?B;KDE8I;HL78B;?DFKJIH;;I;JMEJOF;IE;?;H7H9>O
!6G6=T*KEJ;:FH?9;I7J7H;DEJ79J?L;7D:CE:;B:;H?L;:L7BK7J?EDIM>EI;?DFKJI7H;E8I;HL78B;EH
M>EI;I?=D?;L7BK7J?EDCE:;B7H;KDE8I;HL78B;
0; ;L7BK7J; 7II;JI 7D: B?78?B?J?;I IK8@;9J JE <7?H L7BK; C;7IKH;C;DJI ED 7 H;9KHH?D= 7D: DEDH;9KHH?D=
87I?I JE :;J;HC?D; J>; 7FFHEFH?7J; B;L;B 7J M>?9> JE 9B7II?;C  H;FEHJ?D= F;H?E: ,EC; DED;;L;DJE<
?CF7?HC;DJ,;;'EJ;
W7?H/7BK;E<?D7D9?7B"DIJHKC;DJI
X;<7?HL7BK;>?;H7H9>OJ78B;7D:EMM;C;7IKH;<7?HL7BK;;H ?DIKH78B; H?IAI "DIKH7D9; 9B7?C B?78?B?J?;I H;FH;I;DJ EKH
;IJ?C7J;EEKJH;=7H:JE?DIKH7D9;9EL;H7=;0;H;J7?D7IK8IJ7DJ?7BFEHJ?EDE;H?IAH;B7J;:JE
9;HJ7?DMEHA;HIV9ECF;DI7J?ED7D:C;:?97B9B7?CI%?78?B?J?;I7IIE9?7J;:M?J>J>;I;BEII;I?D9BK:;;IJ?C7J;IE<8EJ>
J>;7II?IJ7D9;E?H:F7HJO79JK7H?;I
M;H;L?;MEKH;IJ?C7J;E;H:;J7?BIEDJ>;GK7HJ;HBOH;L?;MFHE9;:KH;IIF7HJE?I;L7BK7J?ED
M;H;L?;MJ>;IJ7JKIE<


;N?IJ?D= 7D: D;M 9B7?C H;I;HL;I 7I ;IJ78B?I>;: 8O J>?H:F7HJO 9B7?CI 7:C?D?IJH7JEHI ->; J>?H:F7HJO 9B7?CI
7:C?D?IJH7JEHI;IJ78B?I>J>;97I;H;I;HL;I87I;:KFEDADEMD<79JEHIH;B7J;:JEJ>;JOF;7D:I;L;H?JOE;9B7?CI

:;CE=H7F>?9 <79JEHI
 B;=?IB7J?L; C7JJ;HI
 7D: 97I; B7M
 7I 7FFHEFH?7J; 0; 9ECF7H; 79JK7B JH;D:I JE ;NF;9J;:
JH;D:I7D:CED?JEH9B7?CI:;L;BEFC;DJI->;IF;9?;J>?H:F7HJO7:C?D?IJH7JEHI7H;
FHEL?:;:JE7D79JK7HOM>E7II?IJIKI?DFHE@;9J?D=7D79JK7H?7B;IJ?C7J;E;EL;H7BBKBJ?C7J;BEII;I?=> :;:K9J?8B; FHE=H7CI
 M>?9> ?D9BK:;I J>; 97I; H;I;HL;I FBKI 7D 79JK7H?7B ;IJ?C7J; E< H;I;HL;I
H;GK?H;:7I"'+B7?CI0;KJ?B?P;J>;H;IKBJIE<79JK7H?7BIJK:?;IJE;IJ?C7J;
EKH?DIKH7D9;H7J;I7D:?DIKH7D9;H;I;HL;I;?HKD:;HBO?D=;NFEIKH;I
M>?B;79JK7H?7B7:@KIJC;DJI
H;B7J;:JEFH?EHO;7H9B7?CI7H;H;9EH:;:M?J>?DEHFEH7J;;NF;DI;I0;9B7II?;;NF;9J;:I;JJB;C;DJ:7J;IJ?C7J;:?DIKH7D9;H;9EL;H?;IH;B7J;:JEH;9EH:;:B?78?B?J?;I7H;H;;;JIM>;DM;8;B?;L;J>;H;9;?FJE7CEKDJI?IFHE878B;
$E96C44CF65!:23:=:E:6D
J (9JE8;H 
  7D: 
 EJ>;H 799HK;: B?78?B?J?;I FH?C7H?BO 9EDI?IJ;: E< J>; I>EHJJ;HC 9EDJ?D=;DJ
9EDI?:;H7J?ED B?78?B?JO
 ;CFBEO;; 8;D;;HDED9KHH;DJB?78?B?J?;IFH?C7H?BO9EDI?IJ;:E;BED=J;HC9EDJ?D=;DJ
9EDI?:;H7J?EDB?78?B?JO
:;<;HH;:9ECF;DI7J?ED
BED=J;HC6CD
0;799EKDJ;D?J>7I7FFHEL7B7D:9ECC?JC;DJF7HJ?;I
J>;H?=>JIE;F7HJ?;I
7H; ?:;DJ?; 9EDJH79J >7I 9ECC;H9?7B IK8IJ7D9;
 7D: 9EBB;9J78?B?JO E<
9EDI?:;H7J?ED?IFHE878B;(D9;79EDJH79J?I?:;DJ?;J>;H?J?I79EC8?D;:EHI?D=B;9EDJH79J7D:
M>;J>;H?JI>EKB:8;799EKDJ;:7DED;F;H;HF7HJOM?J>EKJ7IK8IJ7DJ?L;F;D7BJO
7D:J>;C7@EH?JOE7L;7DEJ?;H;C7?D?D=9EDJH79JJ;HC?IB?C?J;:JEJ>;H;GK?H;:
J;HC?D7J?EDDEJ?9;F;H?E:
J 9EDJH79J ?D9;FJ?ED
 M; 7II;II J>; I;HL?9;I FHEC?I;: JE EKH 9KIJEC;HI 7D: ?:;DJ?FHEC?I;JEJH7DI<;HJEJ>;9KIJEC;H7I;HL?9;
EH78KD:B;E7J?I:?IJ?D9J-E?:;DJ?;F;H;9EDJH79J
H;=7H:B;IIE;J>;HJ>;O7H;
;NFB?9?JBOIJ7J;:EH7H;?CFB?;:8O9KIJEC7HO8KI?D;IIFH79J?9;I
->; C7@EH?JO E< EKH 9EDJH79JI 9EDJ7?D CKBJ?FB; FHEC?I;I J>7J H;FH;I;DJ 7D ?DJ;=H7J;: 8KD:B; E< I;HL?9;I
9ECFH?I;: E< 79J?L?J?;I J>7J C7O L7HO EL;H J?C; >EM;L;H
 J>;I; 79J?L?J?;I 7J?IIK8IJ7DJ?7BBOJ>;I7C;7D:>7IJ>;I7C;F7JJ;HDE;9KIJEC;H(KHF;H;H;B7J;:I;HL?9;I
0; 7BBE97J; J>; 9EDJH79J JH7DI79J?ED FH?9; JE J>?I I?D=B; F;H;
I;HL?9;I7H;F;H;H:;I9H?8;:?DWEDJH79J-OF;IX8;BEM
;HJ7?D7HH7D=;C;DJI?DLEBL;L7H?78B;9EDI?:;H7J?EDFH?C7H?BOF;HJH7DI79J?ED<;;I
H;?C8KHI78B;;NF;DI;I

7D: I7B;I87I;: HEO7BJ?;I 0; :E DEJ ;IJ?C7J; J>; L7H?78B; 9EDI?:;H7J?ED ;I; 7HH7D=;C;DJI H7J>;H
 M;
H;9E=D?P;J>;I;L7H?78B;<;;I?DJ>;F;H?E:J>;O7H;;7HD;:,EC;E7J7H;7I9;HJ7?D;:;N9BKI?L;BO
8O;H;;JH7DI79J?EDFH?9;JEJ>;;NJ;DJ?J?IFHE878B;
J>7J7I?=D?;DJ>;KD9;HJ7?DJO7IIE9?7J;:M?J>J>;
L7H?78B;9EDI?:;H7J?ED?IH;IEBL;:(KH;IJ?C7J;IE;J>;HJE?D9BK:;
;IJ?C7J;:7CEKDJI?DJ>;JH7DI79J?EDFH?9;7H;87I;:B7H=;BOED7D7II;IIC;DJE?IJEH?97B
9KHH;DJ
7D:7J?IH;7IED78BO7L7?B78B;JEKI
0; FH?C7H?BO 799EKDJ ; I;H?;I =K?:7D9;
 KI?D= J>; 7I?DLE?9;:
FH79J?97B;NF;:?;DJM>;D7FFB?978B;0;7FFBOJ>;7I?DLE?9;:FH79J?97B;NF;:?;DJJEH;9EH:H;L;DK;7IJ>;I;HL?9;I


7H;FHEL?:;:
=?L;DJ>;D7JKH;E;I;HL?9;IFHEL?:;:7D:J>;;9KIJEC;H9EDJH79JI
.D:;HJ>?IFH79J?97B;NF;:?;DJ
M;H;9E=D?P;H;L;DK;?D7D7CEKDJJ>7J9EHH;IFED:I:?H;9JBOM?J>J>;L7BK;JEJ>;
9KIJEC;HE?9>M;>7L;J>;H?=>JJE?DLE?9;J>;9KIJEC;H
0;JOF?97BBO8?BB9KIJEC;HIED7CEDJ>BO87I?I7D:>7L;J>;H?=>JJE9EDI?:;H7J?ED7J9EHH;IFED:I:?H;9JBOM?J>J>;F;H;J?C;8;JM;;D9ECFB;J?EDE<
J>;F;H?I=;D;H7BBOJE:7OI,7B;I87I;:J7N;I7H;;N9BK:;:7D=;I ?D IF;9?;D J>; CE:?;H 9>7D=;I J>; 9EDI?:;H7J?ED
 9H;7J;I D;M
F;H7D=;I J>; ;N?IJ?D= I9EF; E< J>; 9EDJH79J 7D: H;B7J;: F;H7L;8;;D7J7H;DEJ:?IJ?D9J;;N?IJ?D=9EDJH79J
I?D9;M;
7H;FHEL?:?D=78KD:B;E7J7H;>?=>BO?DJ;HH;B7J;:
7D:7H;J>;H;;OM;H;F7HJE7J
;N?IJ?D=9EDJH79J,K9>CE:?;;N?IJ?D=9EDJH79J
@?EC24E)JA6D
0;>7L;7HH7D=;C;DJIKD:;HL7H?EKI9EDJH79JJOF;I
7I:;I9H?8;:8;BEM
54:/2?0>,+!80*,
&EDJ>BO?9>J>;9B?;DJ7=H;;IJEF7O7
EL;H 7 IF;9?; F;H;
I;HL?9;I7H;FHEL?:;:
7D:H;L;DK;?IH;9E=D?P;:7JJ>;7=H;;:KFED9EDJH79JK7B7CEKDJEL;HJ?C;
8;97KI;J>;
9KIJEC;HI?CKBJ7D;EKIBOH;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;H?9>J>;9B?;DJ7=H;;IJEF7O787I;:ED
J>;79JK7BIGK7H;;
F;H; I;HL?9;I 7H; FHEL?:;:
 7D: H;L;DK; ?I H;9E=D?P;: 7J J>; 7=H;;:KFED 9EDJH79JK7B
7CEKDJEL;HJ?C;
8;97KI;J>;9KIJEC;HI?CKBJ7D;EKIBOH;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7I
J>;O7H;F;H?9> J>; 9B?;DJI H;?C8KHI; KI ; 7=H;;:KFED 7CEKDJ E<
M7=;I7D:8;D;7H=;I
7D:EJ>;H;NF;DI;I7IIE9?7J;:M?J>J>;9EDJH79J;:MEHA

FBKI7FHE;F;H;I;HL?9;I7H;
FHEL?:;:
 7D: H;L;DK; ?I H;9E=D?P;: 7J J>; 7=H;;:KFED 9EDJH79JK7B 7CEKDJ EL;H J?C;
 8;97KI; J>; 9KIJEC;H
I?CKBJ7D;EKIBOH;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;H;IJ7D:7H:I;HL?9;
IF;9?;
D7JKH;E;I;I>EHJJ;HC9EDJH79JI?DLEBL;IF;H;
7=H;;:KFED 9EDJH79JK7B 7CEKDJ EL;H J?C; 7I J>; I;HL?9;I 7H; FHEL?:;:
 8;97KI; J>; 9KIJEC;H I?CKBJ7D;EKIBO
H;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;H?9> 9KIJEC;HI 7H; 8?BB;: 7 
JH7DI79J?ED F;HBO 87I?I ;=
 M>;;B9>7?H F7II;D=;HI I;HL;:
 7?HFB7D; 978?DI 9B;7D;: 0;
C;7IKH;FHE=H;IIJEM7H:I7J?I<79J?EDE;F;H;I;HL?9;I7H;FHEL?:;:
7D:H;L;DK;?I
H;9E=D?P;:7JJ>;7=H;;:KFED9EDJH79JK7B7CEKDJEL;HJ?C;
8;97KI;J>;9KIJEC;HI?CKBJ7D;EKIBOH;9;?L;I7D:
9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;H?9> J>; 9B?;DJ ?I 8?BB;: 7 EKHBO H7J;  B78EH >EKH
FHEL?:;:0;C;7IKH;FHE=H;IIJEM7H:I7J?I<79J?EDE;F;H;I;HL?9;I7H;FHEL?:;:
7D:


H;L;DK; ?I H;9E=D?P;: 7J J>; 7=H;;:KFED 9EDJH79JK7B 7CEKDJ EL;H J?C;
 8;97KI; J>; 9KIJEC;H I?CKBJ7D;EKIBO
H;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;HHEK=>J>;H;L;DK;7D:;NF;DI;I7IIE9?7J;:M?J>J>;<79?B?JOJEJ>;EMD;H0;C;7IKH;FHE=H;IIJEM7H:
I7J?I<79J?ED E< J>; F;H; I;HL?9;I 7H; FHEL?:;: .D:;H J>;I; 9EDJH79JI M;
H;9E=D?P;8EJ>H;L;DK;I7D:;NF;DI;I
?D;GK7B7CEKDJI
J>7J7H;:?H;9JBOH;?C8KHI;:;FHEF;HJOEMD;H;NF;DI;I7H;?D9KHH;:,K9>H;L;DK;I:EDEJ?D9BK:;=HEII9KIJEC;H9EBB;9J?EDI7J
J>;C7D7=;:BE97J?EDI
8;97KI;J>;O8;BED=JEJ>;FHEF;HJOEMD;HI0;>7L;:;J;HC?D;:M;7H;J>;FH?D9?F7B?D
J>;I;JH7DI79J?EDI
8;97KI;J>;D7JKH;E;I;HL?9;IED8;>7B;9KIJEC;H7D:M;>7L;9EDJHEBE;FHEC?I;:I;HL?9;I8;;O7H;JH7DI<;HH;:JEJ>;9KIJEC;H
&7D7=;C;DJH;?C8KHI;C;DJH;L;DK;M7IC?BB?ED
C?BB?ED
7D:C?BB?ED:KH?D=


7D:
H;IF;9J?L;BO
,(9,+5*(:054
.D:;HB;7I;:BE97J?EDF7HA?D=7HH7D=;C;DJI
M;F7O7BO7D:JH7DI?;DJF7HA;HI
JEJ>;FHEF;HJOEMD;H0;H;J7?D7BBH;L;DK;IH;9;?L;:
7D:M;7H;
H;IFEDI?8B;;F;H;I;HL?9;I7H;FHEL?:;:
7D:H;L;DK;?IH;9E=D?P;:EL;HJ?C;
8;97KI;J>;9KIJEC;HI?CKBJ7D;EKIBO
H;9;?L;I7D:9EDIKC;IJ>;8;D;;I;HL?9;I7IJ>;O7H;F;H;H;NF;DI;IKD:;H9EDJH79JIJ>7JC;;JJ>;:;EKHBO H7J; JE FHEL?:; F7HA?D=
I;HL?9;I
7D:M;7H;H;IFEDI?8B;7J7H;IF;9?;9EDJH79J0;C;7IKH;
FHE=H;IIJEM7H:I7J?I<79J?EDE;F;H;I;HL?9;I7H;FHEL?:;:
7D:H;L;DK;?IH;9E=D?P;:
7JJ>;7=H;;:KFED9EDJH79JK7BH7J;EL;HJ?C;
8;97KI;J>;9KIJEC;HI?CKBJ7D;EKIBOH;9;?L;I7D:9EDIKC;IJ>;
8;D;;I;HL?9;I7IJ>;O7H;F;H,+!80*,",6(08(4+",-;8)09/3,4:
.D:;H ;D;H=O I7L?D=I 9EDJH79JI 7D: C;DJ 7HH7D=;C;DJI
 M; 7=H;; JE
:;L;BEF
:;I?=D
;D=?D;;H
7D:9EDIJHK9J7FHE@;9J::?J?ED7BBO
7IF7HJE<8KD:B;:;D;H=OIEBKJ?EDI7HH7D=;C;DJI

M;=K7H7DJ;;J>;FHE@;9JM?BBI7J?I;9EIJJE9EIJC;J>E:
M>?9>9ECF7H;IJ>;79JK7B9EIJI?D9KHH;:JE:7J;M?J>J>;9KHH;DJ;IJ?C7J;
E;I7J?I<79J?EDE;F;H?IC;J>E:8;IJH;;JH7DI<;HE<9EDJHEBJEJ>;
9KIJEC;H->?IC;7IKH;C;DJ7D:9ECF7H?IEDFHE9;IIH;GK?H;IKF:7J;IJEJ>;;IJ?C7J;E; 9EDJH79J
 7D: J>;I; KF:7J;I C7O ?D9BK:; IK8@;9J?L; 7II;IIC;DJI 7D: @K:=C;DJI GK?FC;DJ FKH9>7I;: ;I;FHE@;9JI?IFHE@;9JIF;9?;DJ>;J?JB;?IJH7DI<;HH;:JEKI
JOF?97BBOKFED:;B?L;HOJEJ>;MEHAI?J;+;L;DK;;7IIE9?7J;:C7H=?D?I:;<;HH;:KDJ?B?DIJ7BB7J?ED?IIK8IJ7DJ?7BBO9ECFB;J;
0;H;9E=D?P;H;L;DK;EL;HJ?C;;C
8;97KI;?9EDJHEB9EDJ?DKEKIBO
JH7DI<;HIJEJ>;9KIJEC;H7IMEHAFHE=H;II;I
EH??M;>7L;J>;H?=>JJE8?BBJ>;9KIJEC;H7I9EIJI7H;?D9KHH;:->;
9KIJEC;HJOF?97BBO9EDJHEBIJ>;MEHA?DFHE9;II
7I;L?:;D9;:;?J>;H8O9EDJH79JK7BJ;HC?D7J?ED9B7KI;IEH8OEKH
H?=>JIJEF7OC;DJ7J:EDEJ
>7L;7D7BJ;HD7J?L;KI;JEKI
;HJ7?DFHE@;9J9EDJH79JI?D9BK:;7I9>;:KB;E<8?BB?D=IEH?DLE?9;IJEJ>;9KIJEC;H87I;:EDEKH@E8JE:7J;
F;H9;DJ7=; E< 9ECFB;J?ED E< IF;9?;H;DJ ?D J>; 7;:KB;?N;:8?BB?D=I9>;:KB;IC7ODEJFH;9?I;BOC7J9>J>;79JK7B9EIJI?D9KHH;:
->;H;7J97D8;8?BB;:EH?DLE?9;:JEJ>;9KIJEC;H7J7DOFE?DJ
:KH?D=J>;9EDJH79J
H;IKBJ?D=?D87B7D9;IJ>7J7H;9EDI?:;H;:H;L;DK;H;9E=D?P;:?D;N9;IIE<7CEKDJI8?BB;:EH


7CEKDJI 8?BB;: ?D ;N9;II E< H;L;DK; H;9E=D?P;: :L7D9;: F7OC;DJI ;F7OC;DJI7H;KI;:JEC;;JMEHA?D=97F?J7B:;C7D:IJ>7J97D8;
>?=>;H?DJ>;;7HBOIJ7=;IE<79EDJH79J
7IM;BB7IJEFHEJ;9JKI;9EDJH79J
;HJ7?DFHE@;9JI?D9BK:;I;HL?9;C7?DJ;D7D9;7=H;;C;DJIKD:;HM>?9>;N?IJ?D=IOIJ;CI7H;H;F7?H;:7D:
C7?DJ7?D;:;I;7HH7D=;C;DJIEL;HJ?C;(KH
I;HL?9;C7?DJ;D7D9;7=H;;C;DJI7H;=;D;H7BBOED;O;7HH;D;M78B;7=H;;C;DJI
8(4*/09,
0;?I;9;HJ7?D;D=?D;;H?D=I;HL?9;IJ>HEK=>?D:?L?:K7B7D:7H;7?I;IKD:;HJ>;%?D9,;HL?9;
7D: -   8H7D:I
 M>?9> 7H; F7HJ E< & -;9>D?97B ,EBKJ?EDI "D?J?7B ?I; <;;I H;IKBJ ; I7B; E< 7
?I;B?9;DI;7D:?D9BK:;J>;KI;E;D7C;
JH7:;C7HAI
7D:FHEFH?;J7HOC;J>E:I->;?I;B?9;DI;?I
9EDI?:;H;:IOC8EB?9?DJ;BB;9JK7BFHEF;HJO
7D:H;L;DK;H;B7J;:JEJ>;I7B;E?IH?=>J?IH;9E=D?P;:7JJ>;7=H;;:
KFED9EDJH79JK7B7CEKDJEL;HJ>;J;HCE;?D?J?7B?I;7=H;;C;DJ
+EO7BJO<;;H;L;DK;9EDI?IJIE;9EDI?:;H7J?ED;?I;
H?=>J
 M>?9> ?I 97B9KB7J;: 7I 7 F;H9;DJ7=; E< J>; ?I;;IV H;L;DK; 0; H;9E=D?P; HEO7BJO <;; H;L;DK; 7J J>;
7=H;;:KFED9EDJH79JK7BH7J;IEL;HJ?C;7IJ>;9KIJEC;HH;L;DK;?I=;D;H7J;:8OJ>;?I;;IH;9;?L78B;?I
H;9E=D?P;:;KDH;FEHJ;:HEO7BJO<;;I
M>?9>7H;H;FEHJ;:7D:H;C?JJ;:JEKI?D7HH;7HI
0*85.80+#?9:,39(4+%404:,88;6:,+!5=,8#;662?#?9:,3949:(22(:054
0; FHEL?:; ;B;9JH?97B 9EDJH79J?D= I;HL?9;I  7I J>; ?DIJ7BB7J?ED E< IEB7H
IEBKJ?EDI
87JJ;HOIJEH7=;
:?IJH?8KJ;:=;D;H7J?ED
7D:EJ>;HIF;9?7B?P;:;B;9JH?9JH7:;I
0;KI;J>;9EIJJE9EIJC;J>E:
M>?9>9ECF7H;IJ>;79JK7B9EIJI?D9KHH;:JE:7J;M?J>J>;9KHH;DJ;IJ?C7J;
E;I7J?I<79J?EDE;F;H?IC;J>E:8;IJH;;JH7DI<;HE<9EDJHEBJEJ>;
9KIJEC;H->?IC;7IKH;C;DJ7D:9ECF7H?IEDFHE9;IIH;GK?H;IKF:7J;IJEJ>;;IJ?C7J;E;9EDJH79J
7D:J>;I;KF:7J;IC7O?D9BK:;IK8@;9J?L;7II;IIC;DJI7D:@K:=C;DJI
;HJ7?DFHE@;9JI?D9BK:;I;HL?9;C7?DJ;D7D9;7=H;;C;DJIKD:;HM>?9>;N?IJ?D=IOIJ;CI7H;H;F7?H;:7D:
C7?DJ7?D;:;I;7HH7D=;C;DJIEL;HJ?C;(KH
I;HL?9;C7?DJ;D7D9;7=H;;C;DJI7H;=;D;H7BBOED;O;7HH;D;M78B;7=H;;C;DJI
267672%7$,1$2175$&7:,7+$86720(5
0; 97F?J7B?P; J>; ?D9H;C;DJ7B 9EIJI E< E8J7?D?D= 7 9EDJH79J M?J> 7 9KIJEC;H
 FH?C7H?BO 9ECC?II?EDI
 7I
9EDJH79J7II;JI7D:H;9E=D?P;J>;;NF;DI;ED7IJH7?=>JB?D;87I?IEL;H7M;?=>J;:7L;H7=;;NF;9J;:9KIJEC;H
H;B7J?EDI>?FF;H?E:7F?J7B?P;:9ECC?II?EDI7H;9B7II?;J?C?D=E;DM;
;NF;9JJEH;9E=D?P;J>;;NF;DI;
2175$&7$/$1&(6
->; J?C?D= E< H;L;DK; H;9E=D?J?ED
 8?BB?D=I
 7D: 97I> 9EBB;9J?EDI H;IKBJI ?D 9EDJH79J 7II;JI 7D: 9EDJH79J
B?78?B?J?;I
7I;H;NFB7?D;:8;BEM->;J?C?D=E;J?C?D=E7J7BBEMI;J;HC?D7J?EDE;9EDJH79J8O;?J>;HF7HJO
M?J>EKJ7IK8IJ7DJ?L;F;D7BJO
J>;DJ>;9EDJH79JJ;HC?IB?C?J;:JEJ>;J;HC?D7J?EDDEJ?9;F;H?E:
EDJH79J7II;JIFH?C7H?BO9EDI?IJE<8?BB;:JH7:;H;9;?L78B;I
KD8?BB;:JH7:;H;9;?L78B;I
7D:9EIJI?D9KHH;:?D
;N9;IIE<7CEKDJI8?BB;:?BB;:7D:KD8?BB;:JH7:;H;9;?L78B;IH;FH;I;DJ7CEKDJI?9>M;
>7L;7DKD9ED:?J?ED7BH?=>JJE8?BBEKH9KIJEC;HEIJI?D9KHH;:?D;N9;IIE<7CEKDJI8?BB;:JOF?97BBO7H?I;M>;DJ>;
H;L;DK;H;9E=D?P;:EDFHE@;9JI;N9;;:IJ>;7CEKDJ8?BB;:JEJ>;9KIJEC;H->;I;7CEKDJI7H;JH7DI<;HH;:JE8?BB;:
JH7:; H;9;?L78B;I M>;D J>; H?=>JI 8;9EC; KD9ED:?J?ED7B EDJH79J 7II;JI 7BIE ?D9BK:; J>; 97F?J7B?P7J?ED E<
?D9H;C;DJ7B9EIJIE79KIJEC;H
FH?C7H?BO9ECC?II?EDI
EDJH79J B?78?B?J?;I 9EDI?IJ E< :;<;HH;: H;L;DK; 7D: 7:L7D9; F7OC;DJI 7D: 8?BB?D=I ?D ;N9;II E< H;L;DK;
H;9E=D?P;:0;=;D;H7BBO9B7II?;H;B7J;:9EDJH79JI7H;=;D;H7BBO; I7J?I<79J?ED E< J>; H;B7J;:
F;HA6?D2E:@?
(KH 9KHH;DJ I>7H;87I;: 7M7H:I FH?D9?F7BBO 9EDI?IJ E< H;IJH?9J;: IJE9A KD?JI W+,.IX 7D: F;H7H; 7M7H:I 0; H;9E=D?P; 9ECF;DI7J?ED 9EIJI 7IIE9?7J;: M?J> J>;I; 7M7H:I ?D I;BB?D=
 =;D;H7B 7D:
7:C?D?IJH7J?L;;NF;DI;IEH+,.I7D:F;H7H;7M7H:I
J>;7CEKDJE<9ECF;DI7J?ED9EIJ?IC;7IKH;:
87I;: ED J>; =H7DJ:7J; <7?H L7BK; E< J>; ;GK?JO ?DIJHKC;DJI ?IIK;: ,?D9; EKH JEJ7B I>7H;>EB:;H H;JKHD W-,+X
F;H7H;7M7H:I7H;F;H7C7HA;J9ED:?J?ED
J>;9ECF;DI7J?ED9EIJI7IIE9?7J;:
M?J> J>;I; 7M7H:I 7H; :;J;HC?D;: KI?D= 7 &EDJ; 7HBE I?CKB7J?ED L7BK7J?ED CE:;B EH +,.I 7D: -,+
F;H7H;7M7H:I
9ECF;DI7J?ED9EIJ?IH;9E=D?P;:EL;HJ>;F;H?E:J>7J7D;CFBEO;;FHEL?:;II;HL?9;?D
;N9>7D=;;7M7H:0;H;9E=D?P;9ECF;DI7J?ED9EIJ7IIE9?7J;:M?J>EJ>;HF;H7H;7M7H:IEL;H
J>;H;GK?I?J;I;HL?9;F;H?E:87I;:EDJ>;FHE878?B?JOE<79>?;L;C;DJE=:6?ED2?5'6>:EE65E@@G6C?>6?E2=86?4:6D
0;H;9EH:J7N;IED9B?;DJJH7DI79J?EDI:K;JE=EL;HDC;DJ7B7=;D9?;I7IH;9;?L78B;I7D:B?78?B?J?;IEDJ>;
EDIEB?:7J;:7B7D9;,>;;JI
#6E?4@>6%6C@>>@?(92C6
7I?9D;J?D9EC;F;H9ECCEDI>7H;?ID;J?D9EC;:?L?:;:8OJ>;M;?=>J;:7L;H7=;DKC8;HE<9ECCED
I>7H;I EKJIJ7D:?D= :KH?D= J>; F;H?E: ?BKJ;: D;J ?D9EC; F;H 9ECCED I>7H; ?I 87I;: ED J>; M;?=>J;:7L;H7=;
DKC8;H E< 9ECCED I>7H;I EKJIJ7D:?D= :KH?D= J>; F;H?E:
 7:@KIJ;: JE ?D9BK:; J>; FEJ;DJ?7B :?BKJ?ED ;
9EDL;HI?EDE<+,.I
L;IJ?D=E7H;I
7D:;N;H9?I78B;IJE9AEFJ?EDI
@?E:?86?4:6D2?5!:E:82E:@?
0;7H;7F7HJOJE7DKC8;HE;EF;H7J?EDEEI;F;HJ7?D?D=JEB78EH7D:;CFBEOC;DJ
9EDJH79JI
F;HIED7B?D@KHO
7D:EJ>;HC7JJ;HI
IEC;E?9>
7BB;=;IK8IJ7DJ?7BCED;J7HO:7C7=;I,EC;E;I;79J?EDIC7O8;8HEK=>J7I9B7II79J?EDIED8;>7B;D BEII;I 8;9EC; FHE878B; 7D: 7H;
H;7IED78BO;IJ?C78B;";H;7IED78B;;IJ?C7J;E;BEII?I7H7D=;7D:DE7CEKDJM?J>?DJ>;H7D=;?I78;JJ;H
;IJ?C7J;
J>;DJ>;C?D?CKC7CEKDJE;H7D=;?IH;9EH:;:7I7B?78?B?JO0;H;9E=D?P;B;=7B9EIJI7I7D;NF;DI;
?DJ>;F;H?E:?D9KHH;:
?4@>6)2I6D
0;799EKDJ;7II;J7D:B?78?B?JOC;J>E:;<;HH;:J7N7II;JI7D:B?78?B?J?;I7H;
H;9E=D?P;:;;;?HH;IF;9J?L;J7N87I;I0;C;7IKH;:;<;HH;:J7N7II;JI
7D: B?78?B?J?;I KI?D= ;D79J;: J7N H7J;I ;NF;9J;: JE 8; 7FFB?;: JE J7N78B; ?D9EC; ?D J>; O;7HI ?D M>?9> J>EI;
J;CFEH7HO :?<<;H;D9;I 7H; ;NF;9J;: JE 8; H;9EL;H;: ;<;HH;: J7N 7II;JI 7H; H;L?;M;: ; 97HHO?D= 7CEKDJ E< 7 :;<;HH;: J7N 7II;J JE ?JI
H;7B?P78B;L7BK;KDB;II?J?ICEH;B?A;BOJ>7DDEJJ>7JIK9>7II;JM?BB8;H;7B?P;:0;H;9E=D?P;799HK;:?DJ;H;IJ7D:
F;D7BJ?;I H;B7J;: JE KDH;9E=D?P;: J7N 8;D;;DI?L;"D9EC;
>A=@J66'6E6?E:@?)2IC65:E
"D
J>;.,=EL;HDC;DJ;D79J;:J>;EHED7L?HKI?:
+;B?;<
7D:,;9KH?JO9JJ>;W+,9JXJE
FHEL?:;9;HJ7?DH;B?;<7I7H;IKBJE;(/")7D:;C?9->;+,9JFHEL?:;IJ7NH;B?;<
7BED=M?J>EJ>;H
IJ?CKBKIC;7IKH;I
?D9BK:?D=7FHEL?I?EDEA;FJ;CFBEO;;IEDJ>;?HF7OHEBB:KH?D=J>;(/")7D:;C?9
KH?D=J>;O;7H;D:;:(9JE8;H

M;H;9;?L;:7D:H;9EH:;:7D;CFBEO;;H;J;DJ?ED9H;:?JJEJ7B?D=
 C?BB?ED
 M?J>?D J>; W,;BB?D=
 =;D;H7B 7D: 7:C?D?IJH7J?L; ;NF;DI;IX ED EKH EDIEB?:7J;: ,J7J;C;DJI E<
ECFH;>;DI?L;"D9EC;


'646?E=J5@AE6544@F?E:?8(E2?52C5D
"D,;FJ;C8;H
J>;?D7D9?7B99EKDJ?D=,J7D:7H:IE7H:W,X?IIK;:,.
0()020:0,9B
#;6620,804(4*,!85.8(39#;):560*
		09*259;8,5-#;6620,804(4*,!85.8(3 )20.(:0549
:;I?=D;:JE
;D>7D9;JH7DIF7H;D9O7HEKD:IKFFB?;H7JMEKB:7BBEM7KI;HE;
;FHE=H7CVID7JKH;
79J?L?JO:KH?D=J>;F;H?E:
9>7D=;I?I,.?I;<<;9J?L;?DJ>EI;;7C;D:C;DJEDHEBB?9>?I;<<;9J?L; ;7HBO 7:EFJ?ED F;HC?JJ;: 0; 7:EFJ;: J>?I IJ7D:7H:
 ;<<;9J?L;
'EL;C8;H

ED7FHEIF;9J?L;87I?I
;N9;FJ;HEBB?9>8;9EC;I;<<;9J?L;?D
 J>; 7:EFJ?ED E< J>?I
=K?:7D9;:?:DEJ>7L;7D?CF79JEDEKH:?I9BEIKH;I
'646?E=JDDF6544@F?E:?8(E2?52C5D
"D 'EL;C8;H 
 J>; , ?IIK;: ,. 
 #,.3,4: ",658:04. $560* 	 3685<,3,4:9 :5
",658:()2,#,.3,4:09*259;8,9->?I799EKDJ?D=KF:7J;?CFHEL;IH;FEHJ78B;I;=C;DJ:?I9BEIKH;H;GK?H;C;DJI

FH?C7H?BOJ>HEK=>;D>7D9;::?I9BEIKH;I78EKJI?=D??I,.H;GK?H;I:?I9BEIKH;
ED7D
7DDK7B7D:?DJ;H?C87I?I
E7J7H;H;=KB7HBOFHEL?:;:JEJ>;9>?;;HI;=C;DJ?J;CI8OH;FEHJ78B;I;=C;DJ
M?J>7:;I9H?FJ?EDE?I
,. ?I ;<<;9J?L; ?D  ;7HBO 7:EFJ?ED F;HC?JJ;: 0; 7H; 9KHH;DJBO ;L7BK7J?D= J>; ?CF79J E<
?CFB;C;DJ?D=J>?I=K?:7D9;EDEKH;,?IIK;:,.
4*53,$(>,9$560*
	3685<,3,4:9:54*53,
$(> 09*259;8, ->?I 799EKDJ?D= KF:7J; ;D>7D9;I J>; JH7DIF7H;D9O 7D: :;9?I?ED KI;;7C;D:C;DJI?DJ>?I,.7::H;II?DL;IJEHH;GK;IJI7D9;:?D9EC;J7N?DHEK=>9>7D=;IJEJ>;H7J;H;9ED9?B?7J?ED7D:?D9EC;J7N;IF7?:?D?I,.?I;<<;9J?L; ;7HBO 7:EFJ?ED F;HC?JJ;: 0; 7H; 9KHH;DJBO ;L7BK7J?D= J>; ?CF79J E<
?CFB;C;DJ?D=J>?I=K?:7D9;EDEKH; , ?IIK;: ,. 
 4*53, #:(:,3,4: B ",658:04. 5368,/,490<,
4*53,B>6,49,09(..8,.(:05409*259;8,9#;):560*	
	09(..8,.(:0545-4*53,#:(:,3,4:>6,49,9
->?I 799EKDJ?D= KF:7J; ?CFHEL;I ; DEJ;I JE J>; ?I,. ?I ;<<;9J?L; ?D;7HBO7:EFJ?EDF;HC?JJ;:0;7H;9KHH;DJBO;L7BK7J?D=
J>;?CF79JE?I=K?:7D9;EDEKH;HH;9;DJBO?IIK;:799EKDJ?D=FHEDEKD9;C;DJIJE>7L;7C7J;H?7B?CF79JEDEKH
9EDIEB?:7J;:6
<<;9J?L; #KD; 
 
 M; 79GK?H;: *K7B?JO .FJ?C; ,;HL?9;I
 "D9 W*K7B?JO .FJ?C;X
 7D KD?DJ;HHKFJ;:
FEM;H IKFFBO IOIJ;C W.),X ?DIJ7BB7J?ED 7D: C7?DJ;D7D9; 9ECF7DO FHEL?:?D= 9KIJEC?P;: FH;L;DJ?L; 7D:
;C;H=;D9OI;HL?9;FHE=H7CI;H<79?B?J?;I
FKH9>7I;FH?9;E<
7FFHEN?C7J;BOC?BB?EDIK8@;9JJE9KIJEC7HOMEHA?D=97F?J7B7:@KIJC;DJI->;79GK?I?J?EDM7I799EKDJ;:;79GK?I?J?EDC;J>E:99EH:?D=BO
J>;7II;JI79GK?H;:7D:B?78?B?J?;I7IIKC;:M;H;H;9E=D?P;:EDJ>;:7J;
E<79GK?I?J?ED7JJ>;?H;IJ?C7J;:<7?HL7BK;I
M?J>J>;;N9;IIE;FKH9>7I;FH?9;H;9EH:;:7I=EE:M?BB->;=EE:M?BB
?I7CEHJ?P78B;EL;HO;7HI; JEJ7B 7II;JI 79GK?H;:
 ;N9BK:?D= =EE:M?BB 7D:
?DJ7D=?8B;I
 7D: B?78?B?J?;I 7IIKC;: 7CEKDJ;: JE  C?BB?ED 7D:  C?BB?ED
 H;IF;9J?L;BO ->; 79GK?I?J?ED
799EKDJ?D=?IIK8@;9JJE9>7D=;7IM;E8J7?D7::?J?ED7B?D;<79JI7D:9?H9KCIJ7D9;IJ>7J;N?IJ;:
7IE;79GK?I?J?ED:7J;:KH?D=J>;C;7IKH;C;DJF;H?E:
DEJJE;N9;;:ED;O;7H;79GK?I?J?ED:7J;->;
7D=;I JE DED9KHH;DJ 7II;JI
 ?D9BK:?D= ?DJ7D=?8B; 7II;JI 7D: MEHA?D=
97F?J7B
->; EDIEB?:7J;: ,J7J;C;DJI E< ECFH;>;DI?L; "D9EC; ; O;7H ;D:;: (9JE8;H 
 
 ?D9BK:;
H;L;DK;I 7JJH?8KJ78B; JE *K7B?JO .FJ?C; E<  C?BB?ED ->; EF;H7J?EDI E< *K7B?JO .FJ?C; 7H; ?D9BK:;: ?D EKH
-;9>D?97B,EBKJ?EDII;=C;DJ
4BF:D:E:@?@7'2G6?+@=E
(D ,;FJ;C8;H 
 
 M; 9ECFB;J;: J>; 79GK?I?J?ED E< 7BB E< J>; ;GK?JO ?DJ;H;IJI E< +7L;D/EBJ
 "D9
W+7L;D/EBJX
7D7J?EDM?:;FHEL?:;HE<7:L7D9;:JKHDA;OC?9HE=H?:IOIJ;CIKJ?B?P;:8O:?L;HI??DEKH
-;9>D?97B ,EBKJ?EDI I;=C;DJ ->; JH7DI79J?ED C;J J>; :;;
79GK?I?J?EDC;J>E:E<799EKDJ?D=
->; FKH9>7I; FH?9; ; 79GK?I?J?ED M7I 7FFHEN?C7J;BO  C?BB?ED ?D 97I> 7J 9BEI?D= IK8@;9J JE
9KIJEC7HOMEHA?D=97F?J7B7D:D;J:;8J7:@KIJC;DJIFBKIJ>;FEJ;DJ?7BE;FEIJ9BEI?D=9EDJ?D=;DJ9EDI?:;H7J?EDMEKB:8;F7O78B;?D97I>?D97B;D:7HO;7HI


 7D:  ?< +7L;D/EBJVI ;7HD?D=I 8;;+7L;D/EBJC;H=;H7=H;;C;DJ
C;;JIEH;N9;;:I9;HJ7?D:;;:;?;L;:
7D:7I7H;IKBJ
DE9EDJ?D=;DJ9EDI?:;H7J?EDF7OC;DJM7IC7:;?D
->;C7N?CKCH;C7?D?D=9EDJ?D=;DJ9EDI?:;H7J?EDJ>7J?IF7O78B;?D97B;D:7HO;7HI7D:?IC?BB?ED

7D:C?BB?ED
H;IF;9J?L;BO";"-79>?;L;:;
:;; ;DJ?H;  C?BB?ED MEKB: 8; F7?: ?D 97B;D:7H O;7H 
 C?DKI 7DO ;7HDEKJ
F7OC;DJIC7:;?D7D:
-E ;IJ?C7J; J>; <7?H L7BK; E< J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED ED J>; :7J; E< 79GK?I?J?ED
 M; KI;: J>; +;7B
(FJ?EDIC;J>E: ->;A;O7IIKCFJ?EDIKI;:?DEKHL7BK7J?EDM;H;?;LEB7J?B?JO7IIE9?7J;:M?J>J>;"-???H?IA7:@KIJ;::?I9EKDJH7J;7FFB?;:JE;
9H;:?J7:@KIJ;: :?I9EKDJ H7J; H;B7J;: JE J>; F7OC;DJ E< J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED  I?CKB7J?ED E< ED; C?BB?ED
I9;D7H?EIM7IF;HJ>;7II?IJ7D9;E<7J>?H:F7HJOL7BK7J?EDIF;9?7B?IJ
H;IKBJ?D=?D7<7?HL7BK;;
9KCKB7J?L;9EDJ?D=;DJ9EDI?:;H7J?EDHEK=>JEJ7B?D=C?BB?ED
J (9JE8;H 
 
 J>; ;IJ?C7J; E< J>; <7?H L7BK; E< J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED M7I  C?BB?ED
>7D=;I?DH;IKBJIE;J?C?D=E7D
7DJ?9?F7J;:
H;IKBJ?D=?D7JEJ7B?D9H;7I;E<<7?HL7BK;JEC?BB?ED7J(9JE8;H

E?9>C?BB?ED
H;B7J;IJEJ>;97B;D:7HO;7HF7OC;DJJE8;C7:;?D ?L;DJ>;H;B7J?L;BOI>EHJF;H?E:E;;D:
E;;7HDEKJF;H?E:
J>;H;?I7>?=>B;L;BE<9ED;FHE@;9J?EDI7J7H;J>;87I?I
;;IJ?C7J;:9EDJ?D=;DJ9EDI?:;H7J?EDF7OC;DJ->?I9>7D=;?DJ>;<7?HL7BK;?IH;9E=D?P;:M?J>?DJ>;W,;BB?D=

=;D;H7B7D:7:C?D?IJH7J?L;;NF;DI;IXE;EDIEB?:7J;:,J7J;C;DJIE<ECFH;>;DI?L;"D9EC;


	'+#*(
:D288C682E:@?@7'6G6?F6D
0;=;D;H7J;H;L;DK;IKD:;HI;L;H7BJOF;IE<9EDJH79JI
M>?9>7H;;H:;I9H?8;:?D'EJ;
W7I?IE<
)H;I;DJ7J?ED7D:,?=D?;JOF;E<9EDJH79J?I:;J;HC?D;:8OJ>;D7JKH;E;
I;HL?9;I FHEL?:;: 8O ;79> E< EKH C7@EH I;HL?9; B?D;I J>HEK=>EKJ EKH H;FEHJ78B; I;=C;DJI J>;H; 9KIJEC;HI ?DJE C7@EH I;HL?9; B?D;I 0; >7L; :;J;HC?D;: J>7J
:?I7==H;=7J?D= H;L;DK;I ?DJE J>;I; 97J;=EH?;I 8;IJ :;F?9JI >EM J>; D7JKH;
 7CEKDJ
 J?C?D=
 7D: KD9;HJ7?DJO E<
H;L;DK;I 7D: 97I> D?97B
,EBKJ?EDI

7I
:;I9H?8;:
?D
'EJ;


W,;=C;DJ
7D:
 ;E=H7F>?9
"D;EDIEB?:7J;:7B7D9;,>;;JI->;;
;N;9KJ?EDE;DEHC7B9EKHI;E<8KI?D;II
BK9JK7J?ED?IFH?C7H?BO:K;JEJ>;J?C?D=E;9EIJJE9EIJC;J>E:E;H9KHH;DJ7II;JIX7D:W(J>;HDED9KHH;DJ7II;JIXEDJ>;EDIEB?:7J;:7B7D9;,>;;JIKH?D=J>;O;7H;D:;:
(9JE8;H

M;97F?J7B?P;:C?BB?EDE;H;
M7IDE?CF7?HC;DJBEIIH;9EH:;:EDJ>;9EIJI97F?J7B?P;:


.62C?565
$4E@36C


@?EC24E=:23:=:E:6D
7B7D9;7J8;=?DD?D=E;H799HK;:B?78?B?J?;IEDJ>;EDIEB?:7J;:7B7D9;,>;;JI
+;FH;I;DJI7::?J?EDI7IIE9?7J;:M?J>J>;*K7B?JO.FJ?C;9GK?I?J?ED


	!((
->;9ECFED;DJIE;?H9B7II?;;JI
M;H;7IJE<KI;7II;JI

 

?D7D9;B;7I;I
)HEF;HJO
FB7DJ7D:;GK?FC;DJ
D;J
 

)@E2==62D62DD6ED

 

!62D6=:23:=:E:6D
KHH;DJB?78?B?J?;I
(F;H7J?D=B;7I;I
KHH;DJFEHJ?EDE;H799HK;:B?78?B?J?;I
 

'ED9KHH;DJB?78?B?J?;I
(F;H7J?D=B;7I;I
%ED=J;HCB;7I;B?78?B?J?;I
 

?D7D9;B;7I;I
(J>;HDED9KHH;DJB?78?B?J?;I
 

)@E2==62D6=:23:=:E:6D

 

?D7D9;B;7I;7II;JI7H;H;9EH:;:D;JE<799KCKB7J;:7CEHJ?P7J?EDE<C?BB?ED7D:C?BB?ED7IE<(9JE8;H

7D:(9JE8;H

H;IF;9J?L;BO
->;9ECFED;DJIE?DJ>;EDIEB?:7J;:,J7J;C;DJIE<ECFH;>;DI?L;
"D9EC;M;H;7IEHJJ;HCB;7I;9EIJI7D:L7H?78B;B;7I;9EIJI
"D9BK:;II>EHJJ;HCB;7I;9EIJI
+;FH;I;DJI7CEHJ?P7J?EDE;EHJJ;HC7D:L7H?78B;B;7I;9EIJI
.62C?565$4E@36C








,>EHJJ;HCB;7I;9EIJI

 

/7H?78B;B;7I;9EIJI
 

-EJ7BI>EHJJ;HC7D:L7H?78B;B;7I;9EIJI

 

,K8B;7I;?D9EC;=;D;H7J;::KH?D=J>;O;7H;D:;:(9JE8;H

M7I?CC7J;H?7B
->;7CEKDJIE<;B;7I;F7OC;DJIEL;HJ>;B;7I;J;HCI7D:J>;
H;9ED9?B?7J?EDJEJ>;FH;I;DJL7BK;E;B;7I;B?78?B?J?;I7IH;9EH:;:EDEKHEDIEB?:7J;:7B7D9;,>;;JI7IE<
(9JE8;H

7H;7I;H;7;F;H?E:II>EMD78EL;7IJ>;7CEKDJI7H;?CC7J;H?7B
0;>7L;;DJ;H;:?DJEEF;H7J?D=B;7I;7HH7D=;C;DJI7IE<(9JE8;H

J>7J7H;;<<;9J?L;;JEJ7B7CEKDJE<+(.7II;JI7D:B;7I;B?78?B?J?;IH;B7J;:JEJ>;I;7HH7D=;C;DJI?I?CC7J;H?7B
->; ; M;?=>J;:7L;H7=; H;C7?D?D= B;7I; J;HCI
 ?D O;7HI
 7D: J>; M;?=>J;:
7L;H7=;:?I9EKDJH7J;KI;:JE97B9KB7J;J>;FH;I;DJL7BK;EJ;:7L;H7=;H;C7?D?D=B;7I;J;HCO;7HI
(F;H7J?D=B;7I;I


?D7D9;B;7I;I


0;?=>J;:7L;H7=;:?I9EKDJH7J;
(F;H7J?D=B;7I;I


?D7D9;B;7I;I




->;  7D: DED97I> ?DF7?:;C;7IKH;C;DJE7D=;6%6C@>>@?(92C62=4F=2E:@?D
.62CD?565$4E@36C

			
	










#6E:?4@>6

 
 

,6:89E652G6C2864@>>@?2?54@>>@?6BF:G2=6?E
D92C6D@FEDE2?5:?8L2D:4
 
 

<<;9JE<:?BKJ?L;I;9KH?J?;I
+,.I
 
 

);H7H;I
 
 

,6:89E652G6C2864@>>@?2?54@>>@?6BF:G2=6?E
D92C6D@FEDE2?5:?8L:=FE65
 
 

#6E:?4@>6A6C4@>>@?D92C6
7I?9

 
 

?BKJ;:

 
 

?E::=FE:G6$FEDE2?5:?8(E@4<H2C5DDDF65*?56C(92C62D65@>A6?D2E:@?%=2?D
.62CD?565$4E@36C











?E:5:=FE:G6
 
 
U


	'+!*$##!#()'*"#)(
2:C+2=F6:6C2C49J@7$FC:?2?4:2=?DECF>6?ED
,1$1&,$/66(76$1',$%,/,7,(6($685('$7$,5!$/8(21$(&855,1*$6,6
D@7$4E@36C


2:C+2=F6
:6C2C49J






7I>7D:97I>;GK?L7B;DJI


 

"DIKH7D9;:;FEI?JI


 

II;JI>;B:?D7D:97I>;GK?L7B;DJI7H;IJ7J;:7JDEC?D7BL7BK;
M>?9>;GK7BI<7?HL7BK;
+;FH;I;DJIH;IJH?9J;::;FEI?JIJ>7J7H;KI;:JE9EBB7J;H7B?P;EKH?DIKH7D9;E8B?=7J?EDI7D:7H;IJ7J;:7JDEC?D7BL7BK;
M>?9>
;GK7BI<7?HL7BK;->;I;?DIKH7D9;:;FEI?JI7H;?D9BK:;:?DW(J>;HDED9KHH;DJ7II;JIXEDJ>;799ECF7DO?D=EDIEB?:7J;:
7B7D9;,>;;JI,;;'EJ;
W"DIKH7D9;
X;H?D;B:?D+788?JHKIJI7IIE9?7J;:M?J>ED;E?9>M;?D9BK:;?D
W(J>;HDED9KHH;DJ7II;JIXEDJ>;799ECF7DO?D=EDIEB?:7J;:7B7D9;,>;;JI->;<7?HL7BK;E;7II;JI>;B:?DJ>;;H
?D;97HHO?D=L7BK;
E;<7?HL7BK;,;;'EJ;
WH;:?J79?B?JO
X;H?D;:=;I->;<7?HL7BK;IE;?DJ;H;IJH7J;IM7FI7H;
;IJ?C7J;:87I;:EDJ>;FH;I;DJL7BK;E;:?<<;H;D9;8;JM;;D;NF;9J;:97I>;9EDJH79J;:?DJ;H;IJ
H7J;I7D:J>;;NF;9J;:97I>C7HAI;,;9KH;:(L;HD?=>J
?D7D9?D=+7J;W,(+X;;D:E;F;H?E:J(9JE8;H
7D:
EKH?DJ;H;IJH7J;IM7F7II;JI
7H;?D9BK:;:?DW(J>;HDED9KHH;DJ7II;JIXEDJ>;799ECF7DO?D=EDIEB?:7J;:7B7D9;,>;;JI,;;'EJ;
WH;:?J79?B?JO
X
;H?D7L; 7 H;7:?BO :;J;HC?D78B; <7?H L7BK; J>;H;; ?DL;IJC;DJI KI?D= J>;
C;7IKH;C;DJ7BJ;HD7J?L;KD:;H-EF?97D:C;7IKH;J>;?DL;IJC;DJI7J?D?J?7B9EIJFBKIEHC?DKI<7?HL7BK;7:@KIJC;DJI?<
J>;H;7H;E8I;HL78B;FH?9;IC?DKI?CF7?HC;DJ
?<7DO
J(9JE8;H

EKH9EDJ?D=;DJ9EDI?:;H7J?EDF7O78B;H;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED?IH;9EH:;:7J<7?HL7BK;7I7
B?78?B?JOEDJ>;79GK?I?J?ED:7J;7D:?IH;C;7IKH;:7J;79>H;FEHJ?D=:7J;
87I;:EDI?=D?;
C7HA;J
 M>?9> H;FH;I;DJI 7 %;L;B  C;7IKH;C;DJ M?J>?D J>; <7?H L7BK; >?;H7H9>O; 79GK?I?J?ED :7J; 7D: KDJ?B J>;
9EDJ?D=;D9O?IH;IEBL;:
J>;<7?HL7BK;E<9EDJ?D=;DJ9EDI?:;H7J?EDF7O78B;?I7:@KIJ;:;79>H;FEHJ?D=F;H?E:87I;:FH?C7H?BO
EDJ>;;NF;9J;:FHE878?B?JOE<79>?;L;C;DJE;9EDJ?D=;D9OJ7H=;JIM>?9>7H;IK8@;9JJEEKH;IJ?C7J;->;I;9>7D=;I?D
<7?H L7BK; 7H; H;9E=D?P;: M?J>?D W,;BB?D=
 =;D;H7B 7D: 7:C?D?IJH7J?L; ;NF;DI;IX E< J>; EDIEB?:7J;: ,J7J;C;DJI E<
ECFH;>;DI?L;"D9EC;,;;'EJ;
W9GK?I?J?EDI
X;H?D;H;M;H;DEJH7DI<;HIJEEH;ECF7DO>7:DE7J7H;C;7IKH;:7J<7?HL7BK;ED7H;9KHH?D=87I?I
M;7H;7BIEH;GK?H;:
JE C;7IKH; 9;HJ7?D ?J;CI 7J <7?H L7BK; ED 7 DEDH;9KHH?D= 87I?I ->;I; 7II;JI 97D ?D9BK:; =EE:M?BB ?DJ7D=?8B;
7II;JIFHEF;HJO
FB7DJ7D:;GK?FC;DJB;7I;H;B7J;:+(.7II;JI7D:BED=B?L;:7II;JIJ>7J>7L;8;;DH;:K9;:JE
<7?HL7BK;M>;DJ>;O7H;>;B:;I;DED;7II;JMEKB:8;
H;9EH:;:7JJ>;;IJ?C7J;:<7?HL7BK;
KI?D=FH?C7H?BOKDE8I;HL78B;%;L;B?DFKJI


	%'$%').%!#)#&*%"#)
%C@A6CEJ%=2?E2?5BF:A>6?E
D@7$4E@36C








&79>?D;HO7D:EJ>;H;GK?FC;DJ

 

ECFKJ;H;GK?FC;DJ7D:IEEB:?CFHEL;C;DJI
 

KHD?JKH;7D:; *K7B?JO .FJ?C; 9GK?I?J?ED ,;; 'EJ; 
 W9GK?I?J?EDIX
 7H=;I:KH?D=@F?E
44F>F=2E65
>@CE:K2E:@?
)@E2=
C@DD
2CCJ:?8
>@F?E
44F>F=2E65
>@CE:K2E:@?
)@E2=
KIJEC;H9EDJH79JI7D:H;B7J?EDI>?FI



 




 

-H7:;C7HAI7D:JH7:;D7C;I



 




 

EDJH79JH?=>JI7D:EJ>;H



 




 

)@E2=



 




 

->;I;?DJ7D=?8B;7II;JI7H;8;?D=7CEHJ?P;:EL;HJ>;;NF;9J;:F;H?E:E<8;D;7M;?=>J;:7L;H7=;B?<;E<7FFHEN?C7J;BO
O;7HI
67,0$7('118$/0257,=$7,21;3(16()25$&+2)7+((;7,9(#($56

















IJ?C7J;:7CEHJ?P7J?ED;NF;DI;

 
 
 
 

->;I;7CEKDJI9EKB:L7HO7I79GK?I?J?EDIE<7::?J?ED7B?DJ7D=?8B;7II;JIE99KH?DJ>;;;IJ?C7J;IE<;<7?HL7BK;E<=EE:M?BB7D:EJ>;H?DJ7D=?8B;7II;JI
?DLEBL; I?=D?;H;DJ?D;IJ?C7J?D=J>;
7I9>7D=;I?D97F?J7BC7HA;JI->;79JK7B97I>7D=;I ?D 8KI?D;II 9ED:?J?EDI
 EF;H7J?D= F;H;H ?DIKH78B; H?IAI EH J>; C7@EH?JO E< J>;I; ?DIKH7D9;
FHE=H7CI
M;H;J7?DJ>;?D?J?7BC?BB?EDJEC?BB?EDE<;NFEIKH;ED7F;HE99KHH;D9;87I?I
;?J>;HJ>HEK=>
:;:K9J?8B;I EH I;B<?DIKH;: H;J;DJ?EDI ;=?DD?D= 'EL;C8;H 
 
 H;J;DJ?EDI H7D=; 8;JM;;D  C?BB?ED 7D:
C?BB?EDE<;NFEIKH;ED7F;HE99KHH;D9;87I?I;OED:J>;H;J7?D;:;NFEIKH;I
M;>7L;L7HO?D=FH?C7HOFEB?9O
B?C?JIH7D=?D=8;JM;;DC?BB?ED7D:C?BB?EDF;HE99KHH;D9;-E9EL;H=;D;H7BB?78?B?JO7D:7KJECE8?B;B?78?B?JO
BEII;I78EL;J>;I;FH?C7HOB?C?JI
M;C7?DJ7?D9ECC;H9?7BKC8H;BB7?DIKH7D9;FEB?9?;IJ>7JFHEL?:;7==H;=7J;B?C?JI
E<C?BB?ED(KH?DIKH7D9;FEB?9?;I=;D;H7BBO9EL;HMEHA;HIV9ECF;DI7J?EDBEII;IJEJ>;7J
FHEL?:;F;HE99KHH;D9;B?C?JIE<C?BB?ED0;7H;7BIEI;B<?DIKH;:?9>M;H;J7?DKFJEC?BB?EDE<
;NFEIKH;ED7F;HF7HJ?9?F7DJ
F;HO;7H87I?IM?J>H;IF;9JJE9B7?CI
0; C7?DJ7?D EKH H;I;HL;I ;79JK7H?7B;IJ?C7J;IE; CEIJ H;9;DJBO 9ECFB;J;: 79JK7H?7B H;FEHJI 0; KI; 7BB 7L7?B78B; ?D; H;IKBJI E< 79JK7H?7B H;L?;MI 7H; KI;: JE
;IJ?C7J;EKH?DIKH7D9;H7J;I7D:?DIKH7D9;H;I;HL;I6?ED
&78$5,$/(9,(:6$1' 3'$7(6(5)250('85,1*


0; H;L?;M EKH I;B<?DIKH7D9; B?78?B?J?;I ED 7 GK7HJ;HBO 87I?I 7D: 7:@KIJ EKH 799HK7BI 799EH:?D=BO9JK7B
9B7?CI79J?L?JOEH:;L;BEFC;DJC7OL7HO?9>C7OH;IKBJ?DC7J;H?7BBEII;IEH
=7?DIIM;E8J7?D7::?J?ED7B?D7J7<<;9JIJ>;7IIKCFJ?EDI7D:;IJ?C7J;IKI;:?DEKHH;I;HL;B?78?B?JO
97B9KB7J?EDI
 M; 7:@KIJ EKH I;B<?DIKH7D9; H7J;I 7D: H;I;HL;I ;?H:GK7HJ;HIE<
M;F;H;DI?L;79JK7H?7BH;L?;MIE;C7@EH?JOE<
EKH97IK7BJO?DIKH7D9;FHE=H7CIJE;L7BK7J;9>7D=;IC7:;JE9B7?CIH;I;HL;I7D:9B7?CIF7OC;DJ79J?L?JO;
F;H?E:IE<&7O

J>HEK=>(9JE8;H

7D:'EL;C8;H

J>HEK=>FH?B

H;IF;9J?L;BOJ>;
W9JK7H?7B+;L?;MIX->;9JK7H?7B+;L?;MIM;H;9ECFH;>;DI?L;?DD7JKH;7D:M;H;87I;:EDBEII:;L;BEFC;DJ
F7JJ;HDI
JH;D:7IIKCFJ?EDI
7D:KD:;HBO?D=;NF;9J;:BEII9EIJI:KH?D=J>;F;H?E:I7D7BOP;:
KH?D=J>;I;9ED:7D:GK7HJ;HIE<
M;F;H;C7@EH?JOE7J9EDI?:;H;:9>7D=;I?D9B7?CI:;L;BEFC;DJ7D:9B7?CIF7OC;DJ79J?L?JO;
H;IF;9J?L;F;H?E:I7D7BOP;:J>;W"DJ;H?C.F:7J;IX->;I;"DJ;H?C.F:7J;IM;H;788H;L?7J;:?DD7JKH;87I;:ED
79JK7BL;HIKI;NF;9J;::;L;BEFC;DJ:KH?D=J>;F;H?E:I7D7BOP;:7D:H;B?;:EDJ>;A;O7IIKCFJ?EDI?DJ>;9JK7H?7B
+;L?;MICEIJDEJ78BOBEII:;L;BEFC;DJF7JJ;HDI
JH;D:7IIKCFJ?EDI
7D:KD:;HBO?D=;NF;9J;:BEII9EIJI
7I;:EDJ>;H;IKBJIE;9JK7H?7B+;L?;MI7D:"DJ;H?C.F:7J;I
M;?D9H;7I;:EKHJEJ7BH;I;HL;IH;B7J;:
JEFH?EHO;7HI;BEII7CEKDJI7IIE9?7J;:M?J>"'+B7?CI:KH?D=
8OC?BB?ED->;7:L;HI;:;L;BEFC;DJM7IE<;HB;=79OFHE=H7CI"D
M;
:;9H;7I;:EKHJEJ7BH;I;HL;IH;B7J;:JEFH?EHO;7H9B7?CI8OC?BB?ED
1685$1&((/$7('$/$1&(6$1'&7,9,7<
D@7$4E@36C








"DIKH7D9;9B7?CH;I;HL;I
;N9BK:?D=C;:?97B7D::;DJ7B

 

&;:?97B7D::;DJ7B9B7?CH;I;HL;I7D:EJ>;H
 

"DIKH7D9;H;9EL;H78B;I
 



J (9JE8;H 
  7D: 
 ?DIKH7D9; H;9EL;H78B;I 7H; ?D9BK:;: ?D 8EJ> W(J>;H 9KHH;DJ 7II;JIX 7D:
W(J>;HDED9KHH;DJ7II;JIXEDJ>;799ECF7DO?D=EDIEB?:7J;:7B7D9;,>;;JI
$68$/7<52*5$01685$1&((6(59(62//)25:$5'
.62CD?565$4E@36C











#6E32=2?462E368:??:?8@7J62C

 
 

>7D=;?D97I;H;I;HL;IFBKI"'+B7?CIU9KHH;DJO;7H

 
 

>7D=;?D97I;H;I;HL;IFBKI"'+B7?CIUFH?EHO;7HI

 
 

B7?CIF7?:

 
 

9GK?I?J?ED
U 
U 

#6E32=2?46$4E@36C

 
 

'64@G6C23=6D

 
 

C@DD32=2?46$4E@36C

 
 

 "D9BK:;I H;I;HL;I H;B7J;: JE :?I9EDJ?DK;: EF;H7J?EDI E< 7FFHEN?C7J;BO  C?BB?ED ;M;?=>J;:7L;H7=;?DJ;H;IJH7J;EDEKHEKJIJ7D:?D=8EHHEM?D=I
DEJ?D9BK:?D=
B;JJ;HIE<9H;:?J7D:IM7FI
M7I7D:
H;IF;9J?L;BO
J(9JE8;H

M;>7:8EHHEM?D=97F79?JOE;D;N?IJ?D=C?BB?ED9H;:?J<79?B?JOM?J>7
D;MI;D?EH
I;9KH;:E?9>M;H;I9>;:KB;:JEC7JKH;ED,;FJ;C8;H
"D799EH:7D9;
M?J>J>;J;HCIE;H;:?J79?B?JO
J>;H;LEBL?D=B?D;E<9H;:?JM7IH;:K9;:JEC?BB?EDED,;FJ;C8;H

(D#KD;

J>;ECF7DO7C;D:;:7D:H;IJ7J;:J>;H;:?J79?B?JOM?J>J>;,;9ED:C;D:C;DJ

;NJ;D:?D= J>; C7JKH?JO :7J; JE #KD; 
 
 7D: ?D9H;7I?D= J>; 97F79?JO E< J>; H;LEBL?D= 9H;:?J <79?B?JO ;J>;DH;C7?D?D=J;HCBE7DEKJIJ7D:?D=;
C;D:;: H;:?J 79?B?JO FHEL?:;I ; ?IIK7D9; E< KF JE  C?BB?ED ;
?IIK7D9; E< KF JE  C?BB?ED ?D IM?D=B?D; 7:L7D9;I ->; E8B?=7J?EDI KD:;H J>; C;D:;: H;:?J 79?B?JO 7H;
I;9KH;: ED 7 ;C;D:;:H;:?J79?B?JO7J7DOJ?C;M?J>EKJ
F;D7BJO
J 'EL;C8;H 
 
 M; 7C;D:;: EKH C;D:;: H;:?J 79?B?JO FKHIK7DJ JE J>; %"(+ -H7DI?J?ED
C;D:C;DJ7D:J>;?C;D:C;DJJEH;FB79;J>;8;D9>C7HAH7J;7JM>?9>.,:EBB7H:;DEC?D7J;:8EHHEM?D=I
8;7H?DJ;H;IJ;J?D7D9?D=+7J;W,(+XJ;HCH7J;7:C?D?IJ;H;:
8O& HEKF;D9>C7HA:C?D?IJH7J?ED%?C?J;:I7H;IKBJE;I;7C;D:C;DJI
M;97D8EHHEM7J-;HC,(+
FBKI79H;:?JIFH;7:7:@KIJC;DJE<IK8@;9JJE7;C;D:;:H;:?J79?B?JO9EDJ7?DI9;HJ7?D9EL;D7DJI
?D9BK:?D=7C7N?CKCJEJ7BD;JB;L;H7=;H7J?EE<
JE
7C7N?CKCI;9KH;:D;JB;L;H7=;H7J?EE<JE
7D:7C?D?CKC?DJ;H;IJ9EL;H7=;H7J?EE<
JE
7IM;BB7IEJ>;H;;L;DJE<7C7J;H?7B79GK?I?J?ED
7I:;;C;D:;:H;:?J79?B?JO
M;C7O;B;9JJE?D9H;7I;J>;C7N?CKCJEJ7BD;JB;L;H7=;H7J?EJEJE;C7N?CKCI;9KH;:D;JB;L;H7=;H7J?EJEJEJ>;9EL;D7DJI:;I9H?8;:78EL;J
(9JE8;H

M;M;H;?D9ECFB?7D9;M?J>J>;I;9EL;D7DJI
->;C;D:;:H;:?J79?B?JO7BIE?D9BK:;I9KIJEC7HO;L;DJIE<:;<7KBJ
?D9BK:?D=<7?BKH;JEF7OFH?D9?F7B

?DJ;H;IJ
EH<;;IM>;D:K;<7?BKH;JE9ECFBOM?J>9EL;D7DJIJ>;E99KHH;D9;E<9;HJ7?DC7J;H?7B@K:=C;DJI7D:7
9>7D=;?D9EDJHEBE;ECF7DO"<9;HJ7?D;L;DJIE<:;<7KBJE99KH
?D9BK:?D=9;HJ7?D9HEII:;<7KBJI
?DIEBL;D9O

9>7D=;?D9EDJHEB
EHL?EB7J?EDE;DJ>;B;D:;HI97DJ;HC?D7J;EHIKIF;D:EKH799;IIJEJ>;
C;D:;: H;:?J 79?B?JO
 :;9B7H; 7BB 7CEKDJI EKJIJ7D:?D= ?D9BK:?D= 7BB 799HK;: ?DJ;H;IJ 7D: KDF7?: <;;I JE 8;
?CC;:?7J;BO:K;7D:F7O78B;
7D:H;GK?H;J>7JM;97I>9EBB7J;H7B?P;J>;EKJIJ7D:?D=IJ7D:8OB;JJ;HIE<9H;:?J


0;?D9KHH;::;<;HH;:J>;,;9ED:C;D:C;DJ7D:97HH?;:
EL;H  C?BB?ED E< KD7CEHJ?P;: :;<;HH;: ; ?D?J?7B ;N;9KJ?ED
 ?HIJ C;D:C;DJ
 7D: FH;L?EKI
7C;D:C;DJIE;H;:?J79?B?JO-EJ7B:;<;HH;:;J;HCBE7D7D:C?BB?EDH;B7J;:JEJ>;H;LEBL;H
7H;8;?D=7CEHJ?P;:JE?DJ;H;IJ;NF;DI;EL;HJ>;J;HCE;
C;D:;:H;:?J79?B?JO
!@?8)6C>!@2?"2EFC:E:6D
KH?D=
M;C7:;FH?D9?F7BF7OC;DJIKD:;HJ>;J;HCBE7DE<C?BB?EDIE<(9JE8;H

J>;
;C;D:;:H;:?J79?B?JO

















;8JC7JKH?J?;I

 

 
U 
U 
U
?E6C6DE'2E6(H2AD
0;;DJ;H?DJE?DJ;H;IJH7J;IM7FIJEC7D7=;J>;?DJ;H;IJH7J;H?IA7IIE9?7J;:M?J>EKH;I;7HH7D=;C;DJI
M;JOF?97BBOF7O77D=;HEK=>EKJ J>; B?<; E< J>; 7=H;;C;DJ 0; ?D?J?7BBO H;FEHJ J>; C7HAJEC7HA;J =7?D EH BEII ED 7
:;H?L7J?L;7I79ECFED;DJE<(%7D:IK8I;GK;DJBOH;9B7II?;=7?DEHBEII?DJE;7HD?D=IM>;DJ>;>;:=;:
JH7DI79J?EDIE99KH7D:7<<;9J;7HD?D=I"DJ;H;IJF7O78B;I7D:H;9;?L78B;IKD:;HJ>;IM7F7=H;;C;DJI7H;799HK;:
7D: H;9EH:;: 7I 7:@KIJC;DJI JE ?DJ;H;IJ ;NF;DI; BB E< EKH ?DJ;H;IJ H7J; IM7FI >7L; 8;;D :;I?=D7J;: 7D:
799EKDJ;:;:=;I;
L7BK7J?EDE@F?E
:I65?E6C6DE
'2E6
7764E:G62E6
"2EFC:EJ2E6
C?BB?ED

;8HK7HO

#KD;

C?BB?ED

;8HK7HO

#KD;

C?BB?ED

&7O

#KD;

C?BB?ED

#KBO

#KD;

C?BB?ED

#KBO

#KD;

C?BB?ED

'EL;C8;H

#KD;

 "D#KBO
M;;DJ;H;:?DJE7CEHJ?P?D=?DJ;H;IJH7J;IM7F7=H;;C;DJIM?J>DEJ?ED7BL7BK;IJEJ7B?D=C?BB?ED7J?D9;FJ?ED->;DEJ?ED7B
7CEKDJH;:K9;IJEC?BB?ED?D(9JE8;H8;;JEJ7B7CEKDJ;NF;9J;:JE8;H;9B7II?;D;NJCEDJ>I
M7IC?BB?ED
D;JE;W)B7DIX->;)B7DIM;H;FH;L?EKIBO7C;D:;:JEFH;9BK:;D;MF7HJ?9?F7DJIBBE;)B7DI7H;
KDJ>;;N9;FJ?EDE?9>?IKD:;H;)B7DIM;H;;;NF;9J;:H;JKHDED7II;JI
M7IC?BB?ED?D
C?BB?ED?D
7D:C?BB?ED?D->;7==H;=7J;D;JF;H?E:?98;D;;7==H;=7J;7H;;NF;9J;:JE8;C?BB?ED
676CC65@>A6?D2E:@?%=2?D
0;C7?DJ7?D:;<;HH;:9ECF;DI7J?EDFB7DIJ>7JF;HC?J;B?=?8B;;CFBEO;;I7D::?H;9JEHIJE:;<;H7FEHJ?EDE<
J>;?H9ECF;DI7J?EDJ(9JE8;H
7D:
J>;JEJ7BB?78?B?JOE<7BB:;<;HH;:9ECF;DI7J?EDM7IC?BB?ED
7D:C?BB?ED
H;IF;9J?L;BO
7D:J>;I;7CEKDJI7H;?D9BK:;:?DW(J>;H799HK;:B?78?B?J?;IX7D:W(J>;HDED9KHH;DJ
B?78?B?J?;IXEDJ>;799ECF7DO?D=EDIEB?:7J;:7B7D9;,>;;JI.D:;HED;E; E8B?=7J?EDI
 7D: M; 7H; H;GK?H;: JE 9EDJH?8KJ; 7 FEHJ?ED E< J>; :;<;HH;:
9ECF;DI7J?ED9EDJH?8KJ?EDI;7II;JI>;B:?DJ>;+788?JHKIJ7H;DEJ7L7?B78B;;<7?HL7BK;E;I;7II;JIM7IC?BB?ED7D:C?BB?ED

H;IF;9J?L;BO
 7D: J>;I; 7CEKDJI 7H; ?D9BK:;: ?D W(J>;H DED9KHH;DJ 7II;JIX ED J>; 799ECF7DO?D= EDIEB?:7J;:
7B7D9;,>;;JI==H;=7J;;NF;DI;H;9E=D?P;:KD:;HJ>;I;:;<;HH;:9ECF;DI7J?EDFB7DIM7IC?BB?ED

C?BB?ED
7D:C?BB?ED7J7H;IK8@;9JJEJ>;7FFB?978B;
FHEL?I?EDIE;CFBEO;;+;J?H;C;DJ"D9EC;,;9KH?JO9JE<7D:J>;"DJ;HD7B+;L;DK;E:;W"+X;HJ7?D
FB7DIF;HC?J79ECF7DOC7J9>E<7FEHJ?EDE;F7HJ?9?F7DJVI9EDJH?8KJ?EDIEH7:?I9H;J?ED7HO9EDJH?8KJ?ED7;
F7HJ?9?F7DJ >7I C;J J>; ;B?=?8?B?JO H;GK?H;C;DJI I;J  ?D J>; FB7D KH?D= 
 
 7D: 
 M; C7:;
C7J9>?D=9EDJH?8KJ?EDIH;GK?H;:8OJ>;FB7DIE<C?BB?ED
C?BB?ED
7D:C?BB?ED
H;IF;9J?L;BO
"F=E:6>A=@J6C%6?D:@?2?5%@DEC6E:C6>6?E%=2?D
0; F7HJ?9?F7J; ?D L7H?EKI CKBJ?;CFBEO;H F;DI?ED FB7DI KD:;H KD?ED 7D: ?D:KIJHOM?:; 7=H;;C;DJI J>7J
FHEL?:;:;;D7JKH;
E;H;7H;H?IAI7IIE9?7J;:M?J>F7HJ?9?F7J?ED?DJ>;I;FB7DIJ>7J:?<<;H7J 9EDJH?8KJ?D= ;CFBEO;H "D J>; ;L;DJ 7DEJ>;H
F7HJ?9?F7J?D=;CFBEO;H?D7CKBJ?;CFBEO;HFB7DDEBED=;H9EDJH?8KJ;IJEJ>;FB7D
J>;KD;FB7D
C7O 8; 8EHD; 8O J>; H;C7?D?D= F7HJ?9?F7J?D= ;CFBEO;HI
 ?D9BK:?D= KI "D J>; ;L;DJ E< J>; J;HC?D7J?ED E< 7
CKBJ?;CFBEO;HF;DI?EDFB7DEH7M?J>:H7M7BA@D65
IA:C2E:@?
2E6D@7
@==64E:G6
2C82:?:?8
8C66>6?ED
%6?D:@?F?5
#
%#







%6?5:?8
>A=6>6?E65









K?B:?D=,;HL?9;#);DI?ED
KD:


2;BBEM



2;BBEM



"CFB;C;DJ;:
 
 
 
'E






,".'7J?ED7B"D:KIJHO
);DI?EDKD:


+;:



+;:



"CFB;C;DJ;:






2;I






;DJH7B);DI?EDKD:E;
".()7HJ?9?F7J?D=
CFBEO;HI


 H;;D



 H;;D



'
	






'
	






,".%E97B)7HJ?9?F7J?D=
CFBEO;HI);DI?ED-HKIJ


 H;;D



 H;;D



'
	






'
	






0;IJ;HDED<;H;D9;E<
-;7CIJ;HI);DI?ED)B7D


 H;;D



 H;;D



'
	






'
	






".(,J7J?ED7HOD=?D;;HI
%E97B);DI?ED)B7D


 H;;D



 H;;D



'
	






'
	



22 :/,8!2(49






)@E2=@?EC:3FE:@?D
 
 
 
	'EJ7FFB?978B;
 -E :;J;HC?D; ?D:?L?:K7BBO I?=D?; FB7D
 EKH
I?=D?;FB7D?DJ;HCIE;;FB7D
->;W"'
)'X9EBKCDFHEL?:;IJ>;CFBEO;H":;DJ?;J>H;;:?=?JFB7DDKC8;H7II?=D;:JEJ>;FB7D8OJ>;
"+,
->;);DI?ED)HEJ;9J?ED9J3ED;,J7JKI9EBKCDIFHEL?:;J>;JMECEIJH;9;DJBO7L7?B78B;);DI?ED)HEJ;9J?ED9JPED;IJ7JKI
H;FEHJI  FB7D ->; PED; IJ7JKI ?I 87I;: ED ?D;H F7HJ?9?F7J?D= ;CFBEO;HI 7D: ?I
9;HJ?FB7DVI79JK7HOCED=EJ>;H<79JEHI
FB7DI?DJ>;H;:PED;7H;=;D;H7BBOB;IIJ>7D;
O;BBEMPED;7H;B;IIJ>7D;=H;;DPED;7H;7JB;7IJ;J>;H7?D7D9?7B"CFHEL;C;DJ)B7DW")X78?B?J7J?ED)B7DW+)X;J>;H EKH 9EDJH?8KJ?ED ?D  ?D9BK:;: 7D 7CEKDJ 7I ?CFEI;: 8O 7 FB7D ?D J>; H;: PED; ?D 7::?J?ED JE J>;
9EDJH?8KJ?EDH7J;IF;9?;7FFB?978B;9EBB;9J?L;87H=7?D?D=7=H;;C;DJ


;2:0,3625?,8!,49054!2(49-58=/0*/9(#0.40-0*(4:54:80);:58
%6?D:@?F?5
@?EC:3FE:@?DE@E96A=2?6I466565>@C6E92?@7
E@E2=4@?EC:3FE:@?DA6C>@DE4FCC6?E=J2G2:=23=6@C>D

2D@7E96A=2?MDJ62C6?5
F7HJC;DJCFBEO;;I-HKIJKD:	


7D:


H?PED7,>;;J&;J7B);DI?ED-HKIJKD:	






7D:


K?B:?D=,;HL?9;#);DI?EDKD:






7D:


K?B:?D=,;HL?9;);DI?ED)B7D	






7D:


;DJH7B);DDIOBL7D?7-;7CIJ;HI;;".()7HJ?9?F7J?D=CFBEO;HI


7D:


EDJH79JB;7D;HI,;HL?9;CFBEO;;I);DI?ED)B7D	


7D:


".(%E97B);DI?EDKD:	


7D:


".(,J7J?ED7HOD=?D;;HI%E97B);DI?ED)B7D






7D:


%E97BI);DI?ED)B7D	






7D:


%E97B);DI?ED)B7D	






%E97BD=?D;;HI.D?ED);DI?ED)B7D	



%E97B"-);DI?EDKD:	



&7II79>KI;JJI,;HL?9;CFBEO;;I);DI?ED)B7D	






7D:


,".'7J?ED7B"D:KIJHO);DI?EDKD:






7D:


,".%E97B)7HJ?9?F7J?D=CFBEO;HI);DI?ED-HKIJ






7D:


,;HL?9;CFBEO;;I"DJ;HD7J?ED7B.D?ED%E97BB;L;B7D:
);DI?ED)B7D	






7D:


,;HL?9;CFBEO;;I"DJ;HD7J?ED7B.D?ED%E97B#
?IJH?9J
K?B:?D=(F;H7JEHI);DI?ED-HKIJKD:	






7D:


-;7CIJ;HI%E97B);DI?EDKD:	






7D:


-;7CIJ;HI%E97B.D?ED'E);DI?ED)B7D	



.,0.%E97B0;B<7H;KD:	






7D:


	->;I;FB7DI7H;DEJI;F7H7J;BOB?IJ;:?DEKHCKBJ?;CFBEO;HJ78B;7IJ>;OH;FH;I;DJ7D?DI?=D?;:;;7BJ>7D:M;B<7H;FB7DI87I;:EDE8B?=7J?EDI
7H?I?D=KD:;H9EBB;9J?L;87H=7?D?D=7=H;;C;DJI9EL;H?D=KD?EDH;FH;I;DJ;:;CFBEO;;I->;I;FB7DIC7OFHEL?:;
C;:?97B
F>7HC79O
:;DJ7B
L?I?ED
C;DJ7B>;7BJ>
7D:EJ>;H8;D;;JHKIJ;;IE<
;79>FB7D->;C7@EH?JOE
C7ODEJ9EDIJ?JKJ;9EDJH?8KJ?EDI
JE7FEIJH;J?H;C;DJ8;D; 7CEKDJI 7I
9EDJH?8KJ?EDIJEFEIJH;J?H;C;DJ8;D;FB7DIM;H;
C?BB?ED
C?BB?ED
7D:C?BB?ED
H;IF;9J?L;BO->;H;>7L;8;;DDEI?=D?7D=;IJ>7J7<<;9J
J>;9ECF7H78?B?JOE;F;H?E:IFH;I;DJ;:


	$"")"#)(#$#)##(
!6EE6CD@7C65:E2?5(FC6EJ@?5D
0;KI;B;JJ;HIE<9H;:?J7D:IKH;JO8ED:IJEI;9KH;9;HJ7?D9ECC?JC;DJIH;B7J;:JE?DIKH7D9;FHE=H7CI7D:
;H FKHFEI;II E< (9JE8;H 
 
 J>;I; B;JJ;HI E< 9H;:?J JEJ7B;:  C?BB?ED
 7D: IKH;JO 8ED:I 7D:
IKH;JO879A;:B;JJ;HIE<9H;:?JJEJ7B;:C?BB?ED
F2C2?E66D
"DIEC;?DIJ7D9;I
M;E<<;H9B?;DJI=K7H7DJ;;:;D;H=OI7L?D=IKD:;H9;HJ7?D;D;H=OI7L?D=I9EDJH79JIJ
(9JE8;H 
  7D: 
 JEJ7B =K7H7DJ;;I M;H;  C?BB?ED 7D:  C?BB?ED
 H;IF;9J?L;BO
 7D: J>;I;
=K7H7DJ;;I;NJ;D:J>HEK=>7D:
H;IF;9J?L;BO0;799HK;;;IJ?C7J;:9EIJE<=K7H7DJ;;IM>;D?J?I
FHE878B;J>7J7B?78?B?JO>7I8;;D?D9KHH;:7D:J>;7CEKDJ97D8;H;7IED78BO;IJ?C7J;:!?IJEH?97BBO
M;>7L;DEJ
?D9KHH;:7DOC7J;H?7BBEII;I?D9EDD;9J?EDM?J>J>;I;=K7H7DJ;;I
?56>?:7:42E:@?D
0;7H;F7HJOJE7L7H?;JOE<7=H;;C;DJIKD:;HM>?9>M;C7O8;E8B?=7J;:JE?D:;CD?;EJ>;HF7HJO;I;7=H;;C;DJI7H;FH?C7H?BOIJ7D:7H:?D:;CD?;I;7HH7D=;C;DJI
M;C7O7=H;;JE?D:;CD?EB:>7HCB;II
7D:H;?C8KHI;J>;
?D:;CD?;?D:;CD?
7DO9B7?CI7H?I?D=EKJE;I;HL?9;IJ>7JM;FHEL?:;0;7BIE?D9KH9EIJIJE:;<;D:B7MIK?JIEHI;JJB;9B7?CIH;B7J;:
JE J>;I; ?D:;CD?;I; 9EIJI 7H; F7?: EK=>M;7JJ;CFJJEFB79;B?C?JIEDIK9>?D:;CD?;I?P;E;9EDJH79J
J>;
C7N?CKCE8B?=7J?EDC7ODEJ8;;NFB?9?JBOIJ7J;:7D:
7I7H;IKBJ
M;7H;KD78B;JE:;J;HC?D;J>;C7N?CKCFEJ;DJ?7B
7CEKDJE<;I;7HH7D=;C;DJI
(KH9;HJ?7JM;H;?D9KHH;:7I7H;IKBJE;?HIJ7JKIEHI;HL?9;JE&7I7:?H;9JEHEHE<;7CEKDJE;I;
E8B?=7J?EDI97DDEJ8;H;7IED78BO;IJ?C7J;:
*?4=2:>65%C@A6CEJF5:ED
0; HEKJ?D;BO H;C?J ;I9>;7J F7OC;DJI JE IJ7J;I ?D 9ECFB?7D9; M?J> 7FFB?978B; ;I9>;7J B7MI
 7D: M; 7H;
IK8@;9JJEKD9B7?C;:FHEF;HJO7K:?JI8OIJ7J;I?DJ>;EH:?D7HO9EKHI;E<8KI?D;II->;FHEF;HJOIK8@;9JJEH;L?;M?D
J>; 7K:?J FHE9;II C7O ?D9BK:; KD9B7?C;: M7=;I
 L;D:EH F7OC;DJI
 EH 9KIJEC;H H;;7J B7MI
=;D;H7BBOH;GK?H;;DJ?J?;IJEH;FEHJ7D:H;C?J787D:ED;:EHKD9B7?C;:FHEF;HJOJEJ>;IJ7J;
7D:<7?BKH;JE:EIE97D
H;IKBJ?D7II;IIC;DJIJ>7J9EKB:?D9BK:;?DJ;H;IJ7D:F;D7BJ?;I?D7::?J?EDJEJ>;F7OC;DJE;;I9>;7JB?78?B?JO
!682="2EE6CD
0;7H;7F7HJOJE7DKC8;HE;EF;H7J?EDEEI;F;HJ7?D?D=JEB78EH7D:;CFBEOC;DJ
9EDJH79JI
F;HIED7B?D@KHO
7D:EJ>;HC7JJ;HI
IEC;E?9>
7BB;=;IK8IJ7DJ?7BCED;J7HO:7C7=;I,EC;E;I;79J?EDIC7O8;8HEK=>J7I9B7II79J?EDIED8;>7B;JEJ7B7CEKDJ799HK;:;H;7H;7IED78B;;IJ?C7J;E<
J>; BEII 9EKB: 8; C7:; M7I  C?BB?ED 0; :E DEJ 799HK; 7J
 ?D EKH @K:=C;DJ
 7H;
9EDI?:;H;:JE8;H;7IED78BOFEII?8B;8KJDEJFHE878B;->;;IJ?C7J?EDE;7D7BOI?IE7JE?H:F7HJ?;I
(KHC7D7=;C;DJ9KHH;DJBO;IJ?C7J;IJ>;H7D=;E?9>7H;7IED78B;
;IJ?C7J;E;BEII97D8;C7:;?I8;JM;;DP;HE7D:C?BB?ED79JEHIKD:;HBO?D=J>?I;IJ?C7J;:H7D=;E7D=;?I;IJ?C7J;
%?J?=7J?EDEKJ9EC;I7H;:?<;;IJ?C7J?EDE;7D7BOI?IE<
CKBJ?FB;FEII?8B;EKJ9EC;IJ>7JE?H:F7HJ?;I"7D
 M>7J M;
7DJ?9?F7J;:
J>?I9EKB:>7L;7C7J;H?7B7:L;HI;;<<;9JEDEKHEK=> 7 BEII ?I FHE878B; EH H;7IED78BO FEII?8B;
 M; 97DDEJ H;7IED78BO ;IJ?C7J; J>;
C7N?CKCFEJ;DJ?7BBEII;I;H7D=;E;H;EH?P;:JE?IIK;
I>7H;IE;I;FH;<;HH;:I>7H;I7H;?IIK;:
@>>@?(E@4<
<<;9J?L;;9;C8;H

EKHE7H:E<?H;9JEHI;NF7D:;:EKH;N?IJ?D=I>7H;H;FKH9>7I;FHE=H7C8O
7D 7::?J?ED7B  C?BB?ED E< EKH 9ECCED IJE9A ,>7H; H;FKH9>7I;I C7O J7A; FB79; ED J>; EF;D C7HA;J EH
EJ>;HM?I;
7D:7BBEHF7HJE;H;FKH9>7I;IC7O8;C7:;FKHIK7DJJE+KB;8FB7DIEH?DFH?L7J;BOD;=EJ?7J;:
JH7DI79J?EDI->;J?C?D=E7I;I?I7JEKH:?I9H;J?ED7D:M?BB:;F;D:KFEDI;L;H7B<79JEHI
?D9BK:?D=C7HA;J
7D:8KI?D;II9ED:?J?EDI
7H;FH?9;
I>7H;7L7?B78?B?JO
7D:EJ>;H<79JEHI+;FKH9>7I;:I>7H;I
7H; H;J?H;: 7D: H;JKHD;: JE 7D 7KJ>EH?P;: 8KJ KD?IIK;: IJ7JKI ->; H;FKH9>7I; FHE=H7C C7O 8; IKIF;D:;: EH
:?I9EDJ?DK;:7J7DOJ?C;M?J>EKJFH?EHDEJ?9;
(385&+$6(&7,9,7<
0;H;FKH9>7I;:I>7H;IKD:;HJ>;I>7H;H;FKH9>7I;FHE=H7C:KH?D=J>;O;7H;D:;:(9JE8;H

7I
IKCC7H?P;:8;BEMJ(9JE8;H

7KJ>EH?P7J?ED7I;IH;C7?D;:KD:;HJ>;,>7H;
+;FKH9>7I;)HE=H7C
.62CD?565$4E@36C

			
	







-EJ7BDKC8;HE7H;IFKH9>7I;:
 

L;H7=;FH?9;F7?:F;HI>7H;

 

-EJ7B97I>F7?:7H;H;FKH9>7I;I

 

L;H7=;FH?9;F7?:F;HI>7H;7D:JEJ7B97I>F7?:7H;H;FKH9>7I;I:E;IDEJ?D9BK:;7DO;N9?I;J7N7I;I
7IF7HJE;"D7H;87I;:9ECF;DI7J?EDFB7DIJEFHEL?:;?D9;DJ?L;I;I; ?D9;DJ?L;I FH?C7H?BO 9EDI?IJ E< +,.I 7D:
F;H7H;I
(D&7O

EKHIJE9A>EB:;HI7FFHEL;:J>;GK?JO"D9;DJ?L;)B7D
M>?9>M7IB7IJ7C;D:;:7D:
H;IJ7J;:ED&7H9>
7I7C;D:;:7D:H;IJ7J;:
J>;WGK?JO)B7DX->;GK?JO)B7D?I7DECD?8KI
FB7D J>7J FHEL?:;I ?9B;I
 ?D9BK:?D= IJE9A EFJ?EDI
 IJE9A
7FFH;9?7J?ED H?=>JI
 +,.I
 F;H7H;I
 7D: EJ>;H I>7H;87I;: 7M7H:I ,>7H;I IK8@;9J JE 7M7H:I J>7J
J;HC?D7J;M?J>EKJL;IJ?D=EH;N;H9?I;7H;7L7?B78B;;GK?JO)B7D;HJ7?DE;
7M7H:IKD:;HJ>;GK?JO)B7DC7OGK7B?;"+
(D &7H9> 
 
 EKH IJE9A>EB:;HI 7FFHEL;: J>;  GK?JO 7D: "D9;DJ?L; ECF;DI7J?ED )B7D J>;
WGK?JO)B7DX->;GK?JO)B7D?I7DECD?8KIFB7DJ>7JFHEL?:;I?9B;I
 ?D9BK:?D= IJE9A EFJ?EDI
 IJE9A 7FFH;9?7J?ED H?=>JI
 +,.I
 F;H7H;I
 7D: EJ>;H I>7H;
87I;:7M7H:I,>7H;IIK8@;9JJE7M7H:IJ>7JJ;HC?D7J;M?J>EKJL;IJ?D=EH;N;H9?I;7H;7L7?B78B;;GK?JO)B7D;HJ7?DE;7M7H:IKD:;HJ>;GK?JO)B7DC7OGK7B?;"+
'E;HI>7H;I7H;7KJ>EH?P;:;GK?JO)B7D->;H;7H;

JEJ7BI>7H;I
E< 9ECCED IJE9A 7KJ>EH?P;: ;  GK?JO )B7D
 7D: 7J (9JE8;H 
 
 J>;H; M;H;


I>7H;IE<9ECCEDIJE9A7L7?B78B;;H;7H;9;HJ7?DFB7DIKD:;HM>?9>M;97DDEBED=;H?IIK;7M7H:I
IK9>7IJ>;GK?JO)B7D
7BJ>EK=>7M7H:I
EKJIJ7D:?D=KD:;HIK9>FB7DIC7OIJ?BBL;IJ7D:8;;N;H9?I;:
0;7BIEC7?DJ7?D7D;CFBEO;;IJE9AFKH9>7I;FB7D
M>?9>EKHIJE9A>EB:;HI7FFHEL;:ED&7H9>

J>; W CFBEO;; ,JE9A )KH9>7I; )B7DX I 7C;D:;:
 J>;H; 7H; 

 JEJ7B I>7H;I E< 9ECCED IJE9A
7KJ>EH?P;:;CFBEO;;,JE9A)KH9>7I;)B7D<<;9J?L;&7O

J>;CFBEO;;
,JE9A)KH9>7I;)B7D?IDEBED=;H9EDI?:;H;:9ECF;DI7JEHO7D:J>;L7BK;IE;7M7H:I7H;DEBED=;HJH;7J;:7I
I>7H;87I;:9ECF;DI7J?ED;NF;DI;::?J?ED7BBO
7IE7J:7J;
J>;FKH9>7I;FH?9;8;97C;E;<7?HL7BK;
E< EKH 9ECCED IJE9A FH?9; ED J>; B7IJ JH7:?D= :7O E< J>; CEDJ> CFBEO;;I C7O :;I?=D7J; KF JE  E< J>;?H
9ECF;DI7J?ED;FKH9>7I;EEB:J>;?H
I>7H;II;:7J;E7I;J(9JE8;H

J>;H;M;H;
H;C7?D?D=
KD?IIK;:I>7H;IKD:;HJ>;CFBEO;;,JE9A)KH9>7I;)B7D
@>A6?D2E:@?IA6?D63J)JA6@7H2C52?5'6=2E65?4@>6)2I6?67:E
.62CD?565$4E@36C











+,.I

 
 

);H7H;I

 
 

,>7H;87I;:9ECF;DI7J?ED;NF;DI;8;7H;87I;:9ECF;DI7J?ED;NF;DI;
D;JE
 7
W H7DJ;;X J>7J ;DJ?JB; J>;  H7DJ;; JE H;9;?L; I>7H;I E< EKH 9ECCED IJE9A 7I J>; KD?JI L;IJ +,.I =H7DJ;: JE
;B?=?8B;;CFBEO;;I7H;;O;7HI+,.I=H7DJ;:JE;B?=?8B;;CFBEO;;IFH?EHJE
=;D;H7BBOL;IJM?J>H;IF;9JJEE;KD:;HBO?D=7M7H:EDJ>;I;9ED:7D:7DD?L;HI7HOE;7M7H:
.FED J>; H;J?H;C;DJ E< 9;HJ7?D ;N;9KJ?L; ;CFBEO;;I 7J 7=;  M?J> 7 C?D?CKC E<  O;7HI E< I;HL?9; JE J>;
ECF7DO
 FKHIK7DJ JE J>; J;HCI E< J>;?H H;IF;9J?L; ;CFBEOC;DJ 7=H;;C;DJI
 +,.I =H7DJ;: JE IK9> ;N;9KJ?L;
;CFBEO;;I J>7J M;H; =H7DJ;: 7J B;7IJ ED; O;7H FH?EH JE J;HC?D7J?ED 8O H;7IED E< H;J?H;C;DJ M?BB 9EDJ?DK; JE 8;
;B?=?8B;;EH?=?D7BBOI9>;:KB;:L;IJ?D=:7J;+,.I=H7DJ;:
JEDED;CFBEO;;:?H;9JEHIL;IJEDJ>;;=H7DJ:7J;"D=;D;H7B
J>;H;9;?FJE<+,.I?I
IK8@;9JJEJ>;=H7DJ;;VI9EDJ?DK?D=;CFBEOC;DJEHI;HL?9;7I7DED;CFBEO;;:?H;9JEH
+,.I7H;9H;:?J;:M?J>:?L?:;D:;GK?L7B;DJH?=>JIJ>7J7H;9EDL;HJ;:JE+,.I7JJ>;<7?HC7HA;JL7BK;E;:7J;IJ>;:?L?:;D:F7OC;DJI7H;C7:;7D:7H;IK8@;9JJEJ>;I7C;J;HCI7D:9ED:?J?EDI7I
J>;KD:;HBO?D=7M7H:
 &7,9,7<
#F>36C@7
(92C6D
:?>:==:@?D
,6:89E65
G6C286
C2?E2E6
2:C+2=F6A6C
(92C6
(KJIJ7D:?D=7J(9JE8;H

 

 H7DJ;:
 

/;IJ;:?D9BK:?D=I>7H;IM?J>>;B:?9>?I;NF;9J;:JE8;H;9E=D?P;:H7J78BOEL;H7M;?=>J;:7L;H7=;L;IJ?D=F;H?E:E<O;7HI
"D 
 
 7D: 
 J>; M;?=>J;:7L;H7=; =H7DJ :7J; <7?H L7BK; F;H I>7H; E< 7M7H:I =H7DJ;: M7I 


 7D: 
 H;IF;9J?L;BO "D 
 
 7D: 
 J>; JEJ7B =H7DJ :7J; <7?H L7BK; E< +,.I L;IJ;: 7D:
9EDL;HJ;:JEI>7H;IE<&9ECCEDIJE9AM7IC?BB?ED
C?BB?ED
7D:C?BB?ED
H;IF;9J?L;BO


%6C7@C>2?46(92C6D?4=F5:?8)('%6C7@C>2?46(92C6D
);H7H;I 9EDI?IJ E< 7 9EDJ?D=;DJ H?=>J JE H;9;?L; I>7H;I E< EKH 9ECCED IJE9A 87I;: ED
F;H7H;I 7H; 9H;:?J;: M?J> :?L?:;D:
;GK?L7B;DJ H?=>JI J>7J M?BB 8; 9EDL;HJ;: JE F;H7H;I 7J J>; <7?H C7HA;J L7BK; E< EKH 9ECCED IJE9A
8;=?DD?D=7;F;H7L;8;;DI7J?I;I7C;J;HCI7D:9ED:?J?EDI7I
J>;KD:;HBO?D=7M7H:
EH9;HJ7?DF;H7H;7M7H:I
J>;DKC8;HE7H;IJ>7JM?BBL;IJ?I87I;:EDFH;
;IJ78B?I>;:?DJ;HD7BH;;O;7HI;HL?9;7D:F;H;
DKC8;HE<-,+CE:?7JM?BBL;IJEL;HJ>;H;IF;9J?L;J>H;;O;7HF;H7H;>EB:;HH;JKHDH;B7J?L;JEJ>;,)ECFEI?J;ECC;H9?7B,;HL?9;I,KFFB?;I"D:;N/;IJ?D=E<
JEE;7M7H:IEH?=?D7BBO=H7DJ;:C7OE99KH:;F;D:?D=EDJ>;H;IF;9J?L;F;H36C@7
(92C6D
:?>:==:@?D
,6:89E65
G6C286
C2?E2E6
2:C+2=F6
A6C(92C6
(KJIJ7D:?D=7J(9JE8;H

 

 H7DJ;:
 

/;IJ;:?D9BK:?D=I>7H;IM?J>>;B:7H; 7M7H:I M7I
 C?BB?ED
 M>?9> ?I ;NF;9J;: JE 8; H;9E=D?P;: H7J78BO EL;H 7 M;?=>J;:7L;H7=; L;IJ?D= F;H?E: E<  O;7HI
N9;FJ7H;I
J>;I;9EIJI7H;87I;:ED;IJ?C7J;:79>?;L;C;DJE7H;I
J>;I;9EIJI7H;87I;:EDJ>;<7?H
L7BK;E<7M7H:I7JJ>;=H7DJ:7J;7D:7H;H;9E=D?P;:ED7IJH7?=>JB?D;87I?IEL;HJ>;I;HL?9;F;H?E:EH;;O;7HI
"D 
 
 7D: 
 J>; M;?=>J;:7L;H7=; =H7DJ :7J; <7?H L7BK; F;H I>7H; E< 7M7H:I =H7DJ;: M7I


7D:
H;IF;9J?L;BO"D

7D:
J>;JEJ7B=H7DJ:7J;<7?HL7BK;E7H;IL;IJ;:7D:9EDL;HJ;:JEI>7H;IE<&9ECCEDIJE9AM7IC?BB?ED
C?BB?ED
7D:C?BB?ED

H;IF;9J?L;BO
"D

7D:
M;KI;:J>;&EDJ;7HBEI?CKB7J?EDL7BK7J?EDJ;9>D?GK;JE;IJ?C7J;J>;<7?HL7BK;
E<-,+F;H7H;=H7DJI
M>?9>KI;:J>;7IIKCFJ?EDI?DJ>;J78B;8;BEM
217($5/2668037,216









NF;9J;:B?<;
O;7HI
O;7HI
O;7HI
NF;9J;:IJE9AFH?9;LEB7J?B?JO



+?IA;;NF;9J;:B?<;H;FH;I;DJIJ>;H;C7?D?D=F;H;7M7H:I
->;;NF;9J;:LEB7J?B?JO=H7DJ?I:;J;HC?D;:87I;:EDJ>;>?IJEH?97BLEB7J?B?JOE;H;C7?D?D=J;HCE;F;H;:7J;E<=H7DJ; H?IA; 9EDJ?DKEKI 9ECFEKD:;: O?;B: ED ., -H;7IKHO EDIJ7DJ &7JKH?JO +7J;I M?J>
L7HO?D=H;C7?D?D=J;HCIJ>;O?;B:?I:;J;HC?D;:EL;H7J?C;F;H?E:9ECC;DIKH7J;M?J>J>;F;H;=H7DJ
:7J;
->;IJE9AFH?9;?IJ>;9BEI?D=FH?9;E;L7BK7J?ED:7J;


>A=@J66(E@4<%FC492D6%=2?
.62CD?565$4E@36C

			
	










0;?=>J;:7L;H7=;<7?HL7BK;E<=H7DJ;:FKH9>7I;H?=>JIF;HI>7H;

 
 

ECCEDIJE9A?IIK;:

 
 

7?HL7BK;E<9ECCEDIJE9A?IIK;:F;HI>7H;

 
 

==H;=7J;FKH9>7I;I

 
 



	#$")-(
6@8C2A9:4(@FC46D@7?4@>667@C6?4@>6)2I6D
.62C?565$4E@36C











.D?J;:,J7J;I

 
 

EH;?=D

 
 

?4@>6367@C6:?4@>6E2I6D

 
 

@>A@?6?ED@7?4@>6)2I%C@G:D:@?
.62C?565$4E@36C











855(17
;:;H7B

 
 

,J7J;

 
 

EH;?=D

 
 

()(55('
;:;H7B

 
 

,J7J;

 
 

EH;?=D

 
 

?4@>6E2IAC@G:D:@?

 
 

'64@?4:=:2E:@?@7E96*	(	(E2EFE@CJ)2I'2E6E@??F2=7764E:G6)2I'2E6
.62C?565$4E@36C









*	(	DE2EFE@CJC2E6



,J7J;7D:BE97B?D9EC;J7N;I
D;JE<<;:;H7BJ7N8;D;7D=;I?DKD9;HJ7?DJ7NFEI?J?EDI



"D9H;C;DJ7BJ7N8;D;7H;87I;:9ECF;DI7J?ED7M7H:I



D;H=O;<;HDED:;:K9J?8B;;NF;DI;I



(J>;H
D;J



7764E:G6E2IC2E6



KH?D=7D:
M;>7:;<<;9J?L;J7NH7J;IE<7D:
H;IF;9J?L;BO
H;IKBJ?D=?D7FHEL?I?ED
7D=;JE?D9H;7I;J>;<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?EDH;B7J;:JEJ>;+7L;D/EBJ
9GK?I?J?ED
F7HJ?7BBOE<7D=;JE:;9H;7I;J>;<7?HL7BK;E;9EDJ?D=;DJ9EDI?:;H7J?ED
H;B7J;:JEJ>;+7L;D/EBJ9GK?I?J?ED


@>A@?6?ED@7676CC65)2IDD6ED2?5!:23:=:E:6D
D@7$4E@36C








()(55('7$;$66(76$775,%87$%/(72
,;B<?DIKH7D9;9B7?CID;JE;H9ECF;DI7J?ED
 

99EKDJIH;9;?L78B;7BBEM7D9;I
 

,;JJB;C;DJB?78?B?J?;I
 

(J>;H799HK7BI
 

,J7J;J7N;I
 

,J7J;D;JEF;H7J?D=BEII97HHO;H79GK?H;:?DJ7D=?8B;I
 

+?=>JE<KI;7II;JI
 

-7N799EKDJ?D=C;J>E:9>7D=;
 

(J>;H9ECFH;>;DI?L;?D9EC;
 

(J>;H
 

)@E2=5676CC65E2I=:23:=:E:6D
 

#6E5676CC65E2I=:23:=:E:6D

 

#6E$A6C2E:?8!@DD2CCJ7@CH2C5D2?5C65:ED
,J7J;D;JEF;H7J?D=BEII97HHO;H;M;7H;F;HC?JJ;:JEKI;D;JEF;H7J?D=BEII;I;I;BEII;IM?BB;NF?H;8;JM;;D7D:;:;H7BD;JEF;H7J?D=BEII97HHOJ7N;I7D:M?BB;NF?H;8;JM;;D7D:
->; L7BK7J?ED 7BBEM7D9; H;FH;I;DJI J>; 7CEKDJ E< J7N 8;D;7J7H;DEJB?A;BOJE8;H;7B?P;:0;8;B?;L;J>;H;C7?D?D=:;<;HH;:J7N7II;JI7H;CEH;B?A;BOJ>7D
DEJJE8;H;7B?P78B;87I;:ED;IJ?C7J;IE<;H
D;J

 
 

+2=F2E:@?2==@H2?462E6?5@7J62C

 
 



*?C64@8?:K65)2I6?67:ED
J (9JE8;H 
 
 
 7D: 
 J>;H; M;H;  C?BB?ED
  C?BB?ED
 7D:  C?BB?ED

H;IF;9J?L;BO
E7J?;7J7:;9H;7I;?DKDH;9E=D?P;:J7N8;D;;D;NJCEDJ>I:K;JEB7FI;IE<7FFB?978B;IJ7JKJ;IE;.D?J;:,J7J;IK;JE;NF?H;:IJ7JKJ;I7D:
9BEI;:7K:?JI
EKH<;:;H7B?D9EC;J7NH;JKHDI; ., "DJ;HD7B +;L;DK; ,;HL?9;  ;D;H7BBO
 ; C7@EH?JO E< IJ7J; 7D: ;H; M; :E
8KI?D;II
F;H?E:IFH?EHJE;
?JOE<';M2EHA?JO


	("#)#$'%#$'")$#
(68>6?E?7@C>2E:@?
(KH 9KHH;DJ H;FEHJ78B; I;=C;DJI 9EDI?IJ E< "
 &
 :K97J?ED
L?7J?ED
 7D: -;9>D?97B ,EBKJ?EDI
 7I
;H:;I9H?8;:8;BEM
'%$')!("#)(#('%)$#(
"
"
 EKH B7H=;IJ H;FEHJ78B; I;=C;DJ
 ;D9ECF7II;I @7D?JEH?7B
 <79?B?J?;I
;D=?D;;H?D=
 7D: F7HA?D= I;HL?9;I ?=>J;9> 9B?;DJI
 IFEHJI 7D: ;DJ;HJ7?DC;DJ
L;DK;I
7D:JH7:?J?ED7B>EIF?J7BI7D:DED79KJ;>;7BJ>97H;<79?B?J?;I"7BIE
FHEL?:;IL;>?9B;C7?DJ;D7D9;7D:EJ>;HI;HL?9;IJEH;DJ7B97HFHEL?:;HI
&
& FHEL?:;I ?DJ;=H7J;: <79?B?JO I;HL?9;I
 ;D=?D;;H?D=
 @7D?JEH?7B
 7D: EJ>;H
IF;9?7B?P;: I;HL?9;I ?D :?<<;H;DJ JOF;I E< C7DK<79JKH?D=
 :?IJH?8KJ?ED
 7D: :7J7
9;DJ;H <79?B?J?;I &7DK<79JKH?D= <79?B?J?;I ?D9BK:; JH7:?J?ED7B CEJEH L;>?9B;I

;B;9JH?9 L;>?9B;I
 87JJ;H?;I
 F>7HC79;KJ?97BI
 IJ;;B
 I;C?9ED:K9JEHI
 9>;C?97BI

7D: C7DO EJ>;HI ?IJH?8KJ?ED <79?B?J?;I ?D9BK:; ;9ECC;H9;
 9EB: IJEH7=;

BE=?IJ?9I
=;D;H7BM7H;>EKI?D=
7D:EJ>;HI
:K97J?ED
:K97J?ED :;B?L;HI @7D?JEH?7B
 9KIJE:?7B
 B7D:I97F?D= 7D: =HEKD:I
 <79?B?J?;I
;D=?D;;H?D=
 7D: F7HA?D= I;HL?9;I EEB :?IJH?9JI
 FH?L7J; I9>EEBI

9EBB;=;I
7D:KD?L;HI?J?;I
L?7J?ED
L?7J?ED IKFFEHJI 7?HB?D;I 7D: 7?HFEHJI M?J> I;HL?9;I H7D=?D= D?97B,EBKJ?EDI
-;9>D?97B ,EBKJ?EDI IF;9?7B?P;I ?D <79?B?JO ?D7D?97B 7D:
;B;9JH?97BI;HL?9;I
?D9BK:?D=/FEM;H:;I?=D
?DIJ7BB7J?ED7D:C7?DJ;D7D9;
7I
M;BB7IC?9HE=H?:IOIJ;CI?DIJ7BB7J?EDI7D:KD?DJ;HHKFJ;:FEM;HIKFFBOI;HL?9;I
->;I;I;HL?9;I97D7BIE8;B;L;H7=;::EC;IJ?97BBO7D:?DJ;HD7J?ED7BBO
->;799EKDJ?D=FEB?9?;I;I7C;7IJ>EI;:?I9BEI;:M?J>?DEKHI?=D?;
F;H H;FEHJ78B; I;=C;DJ 87I;: ED ?JI H;IF;9J?L; EF;H7J?D= FHE?9> ?D9BK:; J>;
7BBE97J?EDE<9;HJ7?D9;DJH7BBO?D9KHH;:9EIJIEHFEH7J;;NF;DI;IDEJ7BBE97J;:JEI;=C;DJI?D9BK:;9;HJ7?D(
7D:EJ>;HKC7DH;IEKH9;:;F7HJC;DJ7B;NF;DI;I
9;HJ7?D?DDEBE=O9EIJI
I>7H;87I;:
9ECF;DI7J?ED
9;HJ7?DB;=7B9EIJI7D:I;JJB;C;DJI
H;IJHK9JKH?D=7D:H;B7J;:9EIJI
9;HJ7?D79JK7H?7B7:@KIJC;DJIJE
I;B<?DIKH7D9;H;I;HL;I
7D::?H;9J79GK?I?J?ED9EIJI&7D7=;C;DJ:E;IDEJH;L?;M7II;J?D;H;?IDEJ;


,1$1&,$/1)250$7,21%<(3257$%/((*0(17
.62C?565$4E@36C











'6G6?F6D
KI?D;II"D:KIJHO


 

 


&7DK<79JKH?D=?IJH?8KJ?ED


 

 


L?7J?ED


 
 

:K97J?ED

 
 

-;9>D?97B,EBKJ?EDI

 
 



 

 


$A6C2E:?8AC@7:E=@DD
KI?D;II"D:KIJHO

 
 

&7DK<79JKH?D=?IJH?8KJ?ED

 
 

L?7J?ED

 
 

:K97J?ED

 
 

-;9>D?97B,EBKJ?EDI

 
 

 EL;HDC;DJ,;HL?9;I
U 
U 

EHFEH7J;

 
 

:@KIJC;DJD?97B,EBKJ?EDI

 
 

:@KIJC;DJD?97B,EBKJ?EDI

 
 


 
 

"D9EC;@CE:K2E:@?
KI?D;II"D:KIJHO

 
 

&7DK<79JKH?D=?IJH?8KJ?ED

 
 

L?7J?ED

 
 

:K97J?ED

 
 

-;9>D?97B,EBKJ?EDI

 
 

EHFEH7J;

 
 


 
 

+;;I7B;E<7II;JI:KH?D=J>;O;7H;D:;:(9JE8;H

 +;; <7?H L7BK; E< J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED F7O78B; H;B7J;: JE J>; +7L;D/EBJ 9GK?I?J?ED E<
C?BB?ED:KH?D=J>;O;7H;D:;:(9JE8;H

 +;; <7?H L7BK; E< J>; 9EDJ?D=;DJ 9EDI?:;H7J?ED F7O78B; H;B7J;: JE J>; +7L;D/EBJ 9GK?I?J?ED E<
C?BB?ED7D:7D;CFBEO;;H;J;DJ?ED9H;:?JJEJ7B?D=C?BB?ED:KH?D=J>;O;7H;D:;:(9JE8;H

6@8C2A9:4?7@C>2E:@?2D65@?E96@F?ECJ:?,9:49E96(2=6$C:8:?2E65
.62C?565$4E@36C











'6G6?F6D
.D?J;:,J7J;I


 

 


BBEJ>;H9EKDJH?;I

 
 



 

 


,K8IJ7DJ?7BBO7BBE;;D:E;F;H?E:9EL;H;:8OJ>?IH;FEHJ
EKH)H?D9?F7BN;9KJ?L;(<J;HC?I:;; N9>7D=;9J 7I;: KFED J>7J ;L7BK7J?ED
 EKH )H?D9?F7B N;9KJ?L; (<7J 7I E< J>; ;D: E< J>; F;H?E: 9EL;H;: 8O J>?I H;FEHJ
 EKH :?I9BEIKH; 9EDJHEBI 7D: FHE9;:KH;I M;H;
;<<;9J?L;JE;DIKH;J>7J?D;N9>7D=;
9J?IH;9EH:;:
FHE9;II;:
IKCC7H?P;:
7D:H;FEHJ;:M?J>?DJ>;J?C;F;H?E:IIF;9?;HKB;I7D:;,;9KH?J?;I7D:N9>7D=;ECC?II?ED7D:799KCKB7J;:7D:9ECCKD?97J;:JEEKHC7D7=;C;DJ
?D9BK:?D=
EKH )H?D9?F7B N;9KJ?L; (<6?EMD'6A@CE@??E6C?2=@?EC@=$G6C:?2?4:2='6A@CE:?8	
(KHC7D7=;C;DJ?IH;IFEDI?8B;?D=7D:C7?DJ7?D?D=7:;GK7J;?DJ;HD7B9EDJHEBEL;HJ;HC?I:;;N9>7D=;9J.D:;HJ>;IKF;HL?I?ED7D:
M?J>J>;F7HJ?9?F7J?EDE; ;<<;9J?L;D;II E< EKH ?DJ;HD7B 9EDJHEB EL;H ;
; ECC?JJ;; E< ,FEDIEH?D=
(H=7D?P7J?EDIE;-H;7:M7OECC?II?ED7I;:EDJ>7J;L7BK7J?ED
EKHC7D7=;C;DJ9ED9BK:;:J>7JEKH?DJ;HD7B
9EDJHEBEL;H7I 7K:?J;: J>; 9EDIEB?:7J;: ?IDDK7B+;FEHJEDEHC$7D:
7IF7HJE7I?IIK;:?JIH;FEHJ
?D9BK:;:
>;H;?D
EDJ>;;<<;9J?L;D;IIE;=HEMJ>E7H;:I;HL?9;97F78?B?J?;I7D:IJ7D:7H:?P;EKH; ?CFB;C;DJ7J?ED E< I;L;H7B A;O FB7J7D=;I ?D J>;
IOIJ;CIJ>7J?D9BK:;?DJ;HD7B9EDJHEBIKH?D=J>;O;7H;D:;:(9JE8;H

M;>7:79>7D=;?DEKH?DJ;HD7B
9EDJHEBEL;H;:K97J?ED?D:KIJHO=HEKFJ>7J>7IC7J;H?7BBO7<<;9J;:
EH?IH;7IED78BOB?A;BOJEC7J;H?7BBO7<<;9J
EKH?DJ;HD7B
9EDJHEBEL;H;IJ7HJE;O;7H;D:?D=(9JE8;H

EKHKI?D;II7D:"D:KIJHO7D:
&7DK<79JKH?D=7D:?IJH?8KJ?ED?D:KIJHO=HEKFIC?=H7J;:JEJ>?ID;M+)IOIJ;C7D:8EKD:7HOIOIJ;CI
H;FB79?D=
EKHB;=79OIOIJ;CI?DM>?9>J>;C7@EH?JOE;
H;C7?D?D=?D:KIJHO=HEKFIM?BBJH7DI?J?EDJEEKHD;M+)IOIJ;C7D:8EKD:7HOIOIJ;CIEL;HJ>;D;NJJMEO;7HI
(KHD;M+)IOIJ;C7D:8EKD:7HOIOIJ;CI7H;?DJ;D:;:JEFHEL?:;KIM?J>;D>7D9;:JH7DI79J?ED7BFHE9;II?D=
7D: C7D7=;C;DJ JEEBI 9ECF7H;: M?J> EKH B;=79O IOIJ;CI 7D: 7H; ?DJ;D:;: JE ;D>7D9; ?DJ;HD7B 9EDJHEBI EL;H
J
 ;D>7D9; EKH ?DJ;HD7B 9EDJHEB EL;H EK=>IEC;E;JH7DI?J?EDI>7L;FHE9;;:;:JE:7J;
M?J>EKJ C7J;H?7B 7:L;HI; ;<<;9JI
 J>; FEII?8?B?JO ;N?IJI J>7J J>;O 9EKB: 7:L;HI;BO 7<<;9J EKH ?DJ;HD7B 9EDJHEBI EL;H
;HJ>7DJ>;9>7D=;E;:K97J?ED?D:KIJHO=HEKF
J>;H;
>7L;8;;DDEEJ>;H9>7D=;I?DEKH?DJ;HD7B9EDJHEBEL;H;J>;;L7BK7J?EDH;GK?H;:8O+KB;I7:7D:::E;N9>7D=;9JJ>7J>7L;C7J;H?7BBO
7<<;9J;:
EH7H;H;7IED78BOB?A;BOJEC7J;H?7BBO7<<;9J
EKH?DJ;HD7B9EDJHEBEL;H6?ED
KH?D=J>;GK7HJ;H;D:;:(9JE8;H

9;HJ7?DE;
N9>7D=;9J
7D::?H;9JEHI7:EFJ;:
CE:?J;HC?I:;6?ED
'7C;7D:-?JB;
9J?ED
7J;E<9J?ED
+KB;8
-H7:?D=
HH7D=;C;DJ
'ED+KB;
8-H7:?D=
HH7D=;C;DJ
==H;=7J;
'KC8;HE<
,;9KH?J?;IJE
;,EB:
==H;=7J;
'KC8;HE<
,;9KH?J?;IJE
;)KH9>7I;:
KH7J?ED
+7SB/7B;DJRD

N;9KJ?L;/?9;
)H;I?:;DJ7D:>?;<
!KC7D+;IEKH9;I
(<7H;I
E<9ECCED
IJE9A

HEC#7DK7HO


KDJ?BJ>;;7HB?;H
E<?J>;:7J;M>;D7BB
J>;I>7H;IKD:;HJ>;
FB7D7H;IEB:7D:??
#KBO

 "DJ;D:;:JEI7J?I;7<?IDDK7B+;FEHJEDEHC$KD:;H
WN;9KJ?L;(<?I"J;CM?BB8;I;JKD:;HJ>;97FJ?EDI
W)HEFEI7B'EUB;9J?EDE<?H;9JEHI
XWEHFEH7J; EL;HD7D9;7D:E7H:&7JJ;HI
X7D:WK:?J+;B7J;:&7JJ;HIX?D
EKH;EB:;HIJ>;W)HENO,J7J;C;DJX,K9>
?D;H;?D 8O H;<;H;D9; (KH  )HENO ,J7J;C;DJ M?BB 8;  J>; ,;9KH?J?;I 7D:
N9>7D=;ECC?II?EDM?J>?D:7OI7;9ED9BKI?EDE7L;
7:EFJ;:7D"DI?:;H-H7:?D=)EB?9O=EL;HD?D=J>;FKH9>7I;
I7B;
7D:EJ>;H:?IFEI?J?EDIE7J ?I H;7IED78BO :;I?=D;: JE FHECEJ; 9ECFB?7D9; M?J> ?DI?:;H JH7:?D= B7MI
 HKB;I 7D:
H;=KB7J?EDI
7D:7DO7FFB?978B;B?IJ?D=IJ7D:7H:I9EFOEJ>?IDDK7B+;FEHJEDEHC$
7IN>?8?J
(D&7H9>

M;;'2,
%?IJ;:ECF7DO&7DK7B
@56@7FD:?6DD@?5F4E
0;>7L;7:EFJ;:7D:FEIJ;:EDEKHM;8I?J;MMM78C9ECJ>;&E:;E<KI?D;IIED:K9J(KH
E:;E<KI?D;IIED:K9JGK7B??9IXM?J>?DJ>;C;7D?D=E<"J;CE<+;=KB7J?ED,$(KH
E:;E<KI?D;IIED:K9J7FFB?;IJE7BBE;E:;E<
KI?D;IIED:K9JEH?<7DOM7?L;H
?D9BK:?D=7DO?CFB?9?JM7?L;H
;E:;E<KI?D;IIED:K9J
?I =H7DJ;: JE EKH )H?D9?F7B N;9KJ?L; (<;D7JKH;E7C;D:C;DJEHM7?L;HEDEKHM;8I?J;7JJ>;7::H;IIIF;9?H;IF;9JJE;N;9KJ?L;9ECF;DI7J?EDH;GK?H;:8OJ>?I"J;CM?BB8;I;JKD:;HJ>;97FJ?EDI
W?H;9JEHECF;DI7J?ED;H;?D8OH;<;H;D9;
)"
	(*').$,#'(%$')##!$,#'(#"#"#)#'!)
()$ $!'"))'(	
"D H;IF;9J JE I;9KH?JO EMD;HI>?F E< 9;HJ7?D 8;D;EB:;H C7JJ;HI H;GK?H;: 8O J>?I "J;C M?BB 8; I;J  KD:;H J>;
97FJ?EDIW ;D;H7B"D?FE<;HJ7?D;D;?FE<?H;9JEHI7D:N;9KJ?L;(<;H;?D8OH;<;H;D9;
)"	')#'!)$#(%(#'!))'#()$#(#')$'#%##	
"D H;IF;9J JE 9;HJ7?D H;B7J?EDI>?FI 7D: H;B7J;: JH7DI79J?EDI 7D: M?J> H;IF;9J JE :?H;9JEH
?D:;F;D:;D9;H;GK?H;:8OJ>?I"J;CM?BB8;I;JKD:;HJ>;97FJ?EDIW ;D;H7B"D?FI
7D: -H7DI79J?EDI M?J> +;B7J;: );HIEDIX 7D: WEHFEH7J;  EL;HD7D9; 7D: E7H: &7JJ;HIX ?D EKH  )HENO
,J7J;C;DJ7D:?I?D9EHFEH7J;:>;H;?D8OH;<;H;D9;
)"	%'#%!$*#)#(#('+(	
"DH;IF;9JJEEKHK:?JECC?JJ;;VIFH;7FFHEL7BFEB?9O?I"J;CM?BB8;I;JKD:;HJ>;
97FJ?EDWK:?J+;B7J;:&7JJ;HIX?DEKH)HENO,J7J;C;DJ7D:?I?D9EHFEH7J;:>;H;?D8OH;<;H;D9;


%')+
)"	-)(##!())"#)(*!(	
7 ->;?IH;FEHJ
,1$1&,$/7$7(0(1761'(;722162/,'$7(',1$1&,$/7$7(0(176
+;FEHJE<"D:;F;D:;DJ+;=?IJ;H;:)K8B?999EKDJ?D=?HC

EDIEB?:7J;:7B7D9;,>;;JI7J(9JE8;H
7D:

EDIEB?:7J;:,J7J;C;DJIE<ECFH;>;DI?L;"D9EC;;2;7HID:;:(9JE8;H


7D:

EDIEB?:7J;:,J7J;C;DJIE<,JE9A>EB:;HIVGK?JO;2;7HID:;:(9JE8;H


7D:

EDIEB?:7J;:,J7J;C;DJIE<7I>BEMI;2;7HID:;:(9JE8;H


7D:

,1$1&,$/7$7(0(17&+('8/(
/7BK7J?ED7D:*K7B?;2;7HID:;:(9JE8;H


7D:

;+,%,76
N>?8?J"D:;N



"#*()'(#$'%$')#(*('(
(*!L+!*)$##&*!.#$*#)(


2=2?46
68:??:?8@7
.62C
55:E:@?D
7C@>
4BF:D:E:@?D
92C86DE@
@DED2?5
IA6?D6D
,C:E6@77D


==@H2?46
)2<6?
2=2?46
?5@7.62C
44@F?EDC646:G23=6
2?5D2=6D2==@H2?46D















U

















&7@EH?JOE<9>7H=;IJE9EIJI7D:;NF;DI;IH;B7J;IJEI7B;I7BBEM7D9;
0H?J;E<
:=6#@	
I9:3:E
:=:?82E6

=H;;C;DJ7D:)B7DE<&;H=;H
:7J;:#KBO


7CED= !EB:?D=EHF
&
"D:KIJH?;I"D9EHFEH7J;:
 H7:;,K8(D;
"D9

 H7:;,K8-ME
%%7D:->EC7I!%;;
GK?JOKD:/""
%)7D:HE7:,JH;;J
)H?D9?F7B"DL;IJC;DJI!EB:?D=I
%)
79J?D=
@E?DJBO7IJ>;,;9KH?JO>EB:;H+;FH;I;DJ7J?L;
$


#KBO


)KH9>7I;=H;;C;DJ
:7J;:K=KIJ


7CED=HEMDK?B:?D=&7?DJ;D7D9;E

HEMDD;H=O,;HL?9;I
"D9
&"D:KIJH?;I
"D9EHFEH7J;:7D:J>;I;BB;HI7D:I;BB;HIV
H;FH;I;DJ7J?L;F7HJOJ>;H;JE
$


K=KIJ


=H;;C;DJ7D:)B7DE<&;H=;H
:7J;:K=KIJ


8O7D:7CED=&"D:KIJH?;I
"D9EHFEH7J;:
+7L;D/EBJ&;H=;H,K8
"D9

+7L;D/EBJ
"D97D:#ED7J>7D!?DJED
7I
I>7H;>EB:;HIVH;FH;I;DJ7J?L;
$


K=KIJ


+;IJ7J;:;HJ?

$


&7H9>


C;D:;:7D:+;IJ7J;:OB7MIE<&
"D:KIJH?;I"D9EHFEH7J;:
:7J;:&7H9>

$


&7H9>


;I9H?FJ?EDE<+;=?IJH7DJVI,;9KH?J?;I
$


;9;C8;H


H;:?J=H;;C;DJ
:7J;:7IE<,;FJ;C8;H


8O7D:7CED=&"D:KIJH?;I
"D9EHFEH7J;:
7;B7M7H;9EHFEH7J?ED
9;HJ7?D
IK8I?:?7H?;IE<&"D:KIJH?;I"D9EHFEH7J;:
;H;JE
J>;B;D:;HI
;H;JE7D:7DAE<
C;H?97
'
7I7:C?D?IJH7J?L;7=;DJ
$


,;FJ;C8;H


%;JJ;H=H;;C;DJ
:7J;:'EL;C8;H


8;JM;;D&"D:KIJH?;I"D9EHFEH7J;:7D:
7DAE<C;H?97
'
7I,M?D=B?D;%;D:;H
M?J>H;IF;9JJEJ>;H;:?J=H;;C;DJ:7J;:7I
E<,;FJ;C8;H

7CED=&"D:KIJH?;I
"D9EHFEH7J;:
J>;;I?=D7J;:EHHEM;HIF7HJO
J>;H;JE
J>;%;D:;HIF7HJOJ>;H;JE7D:7DAE<
C;H?97
'
7I7:C?D?IJH7J?L;7=;DJ
$


;9;C8;H


?HIJC;D:C;DJ
:7J;:7IE<#KBO

JE
J>;H;:?J=H;;C;DJ:7J;:,;FJ;C8;H


8O7D:7CED=&"D:KIJH?;I
"D9EHFEH7J;:
7;B7M7H;9EHFEH7J?ED
J>;
;I?=D7J;:EHHEM;HI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE
J>; K7H7DJEHI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
%;D:;HI?:;DJ?;I?=D7JKH;F7=;I
J>;H;JE
7D:7DAE<C;H?97
'
7I
7:C?D?IJH7J?L;7=;DJ
*


,;FJ;C8;H


,;9ED:C;D:C;DJ
:7J;:7IE<,;FJ;C8;H


JEJ>;H;:?J=H;;C;DJ:7J;:
,;FJ;C8;H

8O7D:7CED=&
"D:KIJH?;I"D9EHFEH7J;:
7;B7M7H;
9EHFEH7J?ED
J>;;I?=D7J;:EHHEM;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
 K7H7DJEHI?:;DJ?;I?=D7JKH;F7=;I
J>;H;JE
J>;%;D:;HI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE
7D:7DAE<
C;H?97
'
7I7:C?D?IJH7J?L;7=;DJ
*


,;FJ;C8;H




->?H:C;D:C;DJ
:7J;:7IE<&7O


JEJ>;H;:?J=H;;C;DJ:7J;:,;FJ;C8;H


8O7D:7CED=&"D:KIJH?;I
"D9EHFEH7J;:
7;B7M7H;9EHFEH7J?ED
J>;
;I?=D7J;:EHHEM;HI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE
J>; K7H7DJEHI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
%;D:;HI?:;DJ?;I?=D7JKH;IF7=;I
J>;H;JE7D:7DAE<C;H?97
'
7I
7:C?D?IJH7J?L;7=;DJ
*


#KD;


EKHJ>C;D:C;DJ
:7J;:7IE<#KD;


JEJ>;H;:?J=H;;C;DJ:7J;:
,;FJ;C8;H

8O7D:7CED=&
"D:KIJH?;I"D9EHFEH7J;:
7;B7M7H;
9EHFEH7J?ED
J>;;I?=D7J;:EHHEM;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
 K7H7DJEHI?:;DJ?;I?=D7JKH;F7=;I
J>;H;JE
J>;%;D:;HI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE7D:7DAE<C;H?97

'
7I7:C?D?IJH7J?L;7=;DJ
*


,;FJ;C8;H


?C;D:C;DJ
:7J;:7IE<'EL;C8;H


JEJ>;H;:?J=H;;C;DJ:7J;:
,;FJ;C8;H

8O7D:7CED=&
"D:KIJH?;I"D9EHFEH7J;:
7;B7M7H;
9EHFEH7J?ED
J>;;I?=D7J;:EHHEM;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
,K8I?:?7HO K7H7DJEHI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE
J>;%;D:;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE7D:
7DAE<C;H?97
'
7I7:C?D?IJH7J?L;
7=;DJ
$


;9;C8;H


%"(+-H7DI?J?EDC;D:C;DJ
:7J;:7IE<
'EL;C8;H

8O7D:7CED=&
"D:KIJH?;I"D9EHFEH7J;:
7;B7M7H;
9EHFEH7J?ED
J>;;I?=D7J;:EHHEM;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE
J>;
,K8I?:?7HO K7H7DJEHI?:;DJ?;
I?=D7JKH;F7=;IJ>;H;JE
J>;%;D:;HI
?:;DJ?;I?=D7JKH;F7=;IJ>;H;JE7D:
7DAE<C;H?97
'
7I7:C?D?IJH7J?L;
7=;DJ
$


;9;C8;H

	
&N;9KJ?L;+;J?H;;!;7BJ>97H;7D:;DJ7B
)B7D
$


#7DK7HO

	
;<;HH;:ECF;DI7J?ED)B7D

$


&7H9>

	
&"D:KIJH?;I"D9EHFEH7J;:GK?JO7D:
"D9;DJ?L;ECF;DI7J?ED)B7D
7I7C;D:;:
7D:H;IJ7J;:(9JE8;H

$


;9;C8;H

	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JE(FJ?EDI
+;IJH?9J;:,JE9A7D:+;IJH?9J;:
,JE9A.D?JI
7D:);H7H;I
 H7DJ;:JECFBEO;;I)KHIK7DJJEJ>;
GK?JO"D9;DJ?L;)B7D


*


#KD;

	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JE(FJ?EDI
+;IJH?9J;:,JE9A7D:+;IJH?9J;:
,JE9A.D?JI
7D:);H7H;I
 H7DJ;:JECFBEO;;I)KHIK7DJJEJ>;
GK?JO"D9;DJ?L;)B7D




	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JEM7H:I H7DJ;:JECFBEO;;I)KHIK7DJJE
J>;GK?JO7D:"D9;DJ?L;ECF;DI7J?ED
)B7D
*


#KD;

	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JEM7H:I H7DJ;:JE.$CFBEO;;I)KHIK7DJ
JEJ>;GK?JO7D:"D9;DJ?L;
ECF;DI7J?ED)B7D
$


;9;C8;H

	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JEM7H:I H7DJ;:JECFBEO;;I)KHIK7DJJE
J>;GK?JO7D:"D9;DJ?L;ECF;DI7J?ED
)B7D


	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JEM7H:I H7DJ;:JECFBEO;;I)KHIK7DJJE
J>;GK?JO7D:"D9;DJ?L;ECF;DI7J?ED
)B7D
;GK?JO"D9;DJ?L;)B7D


*


#KD;

	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JE(FJ?EDI
+;IJH?9J;:,JE9A
7D:+;IJH?9J;:
,JE9A.D?JI H7DJ;:JE?H;9JEHI)KHIK7DJJE
J>;GK?JO"D9;DJ?L;)B7D


	
,J7J;C;DJE<-;HCI7D:ED:?J?EDIFFB?978B;
JEM7H:I H7DJ;:JE'EDCFBEO;;?H;9JEHI
)KHIK7DJJEJ>;GK?JO7D:"D9;DJ?L;
ECF;DI7J?ED)B7D
*


#KD;

	
EHCE<+;IJH?9J;:,JE9A.D?J=H;;C;DJ
GK?JO)B7D
$


;9;C8;H

	
EHCE<+;IJH?9J;:,JE9A.D?J=H;;C;DJ

	
EHCE<);H7H;=H;;C;DJ

	
N;9KJ?L;,JE9A(FJ?ED)B7D7A7=;/;IJ;:
7H;;H,JE9A(FJ?ED)B7D
7I7C;D:;:7D:
H;IJ7J;:#KD;

*


,;FJ;C8;H

	
;<;HH;:ECF;DI7J?ED)B7D7D=;?DEDJHEB
=H;;C;DJ
:7J;:7IE<,;FJ;C8;H


8O7D:8;JM;;D&"D:KIJH?;I"D9EHFEH7J;:
7D:,9EJJ,7BC?HI
$


;9;C8;H



	
N;9KJ?L;CFBEOC;DJ=H;;C;DJ
:7J;:7I
E<#7DK7HO

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:+;D;#79E8I;D
*


&7H9>

	
>7D=;?DEDJHEB=H;;C;DJ
:7J;:7IE<
#7DK7HO

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:+;D;#79E8I;D
*


&7H9>

	
N;9KJ?L;CFBEOC;DJ=H;;C;DJ
:7J;:7I
E<&7H9>

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:D:H;7';M8EHD
*


&7H9>

	
>7D=;?DEDJHEB=H;;C;DJ
:7J;:7IE<
&7H9>

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:D:H;7';M8EHD
*


&7H9>

	
N;9KJ?L;CFBEOC;DJ=H;;C;DJ
:7J;:7I
E<(9JE8;H

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:#EI>K7!
;?D8;H=
$


;9;C8;H

	
>7D=;?DEDJHEB=H;;C;DJ
:7J;:7IE<
;8HK7HO

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:#EI>K7!
;?D8;H=
*


#KD;

	Z
N;9KJ?L;,;F7H7J?ED7D:+;B;7I;
=H;;C;DJ
:7J;:7IE<(9JE8;H

8O
7D:8;JM;;D&"D:KIJH?;I"D9EHFEH7J;:
7D:#EI>K7!;?D8;H=
	
N;9KJ?L;CFBEOC;DJ=H;;C;DJ
:7J;:7I
E<'EL;C8;H

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:7HB+BB?I
*


#KD;

	
>7D=;?DEDJHEB=H;;C;DJ
:7J;:7IE<
'EL;C8;H

8O7D:8;JM;;D&
"D:KIJH?;I"D9EHFEH7J;:7D:7HB+BB?I
*


#KD;

Z
"DI?:;H-H7:?D=)EB?9O
Z
,K8I?:?7H?;IE;+;=?IJH7DJ
Z
EDI;DJE<"D:;F;D:;DJ+;=?IJ;H;:)K8B?9
99EKDJ?D=?HC
Z
;HJ??;<N;9KJ?L;(<7D=;9JE<
+KB;77EH:7
7I7:EFJ;:
FKHIK7DJJE,;9J?EDE;,7H87D;I
(NB;O9JE<
Z
;HJ??;<?D7D9?7B(<7D=;9JE<
+KB;77EH:7
7I7:EFJ;:
FKHIK7DJJE,;9J?EDE;,7H87D;I
(NB;O9JE<
Y
;HJ?7D=;
9JE<+KB;78EH:87D:
.,,;9J?ED
7I7:EFJ;:FKHIK7DJ
JE,;9J?EDE;,7H87D;I(NB;O9JE<

	
&"D:KIJH?;I"D9EHFEH7J;:C;D:;:7D:
+;IJ7J;:+;9EKFC;DJ)EB?9O
;<<;9J?L;
(9JE8;H

$


;9;C8;H

"',Z
"DB?D;1+%"DIJ7D9;E9KC;DJJ>;?DIJ7D9;
:E9KC;DJ:E;IDEJ7FF;7H?DJ>;"DJ;H79J?L;
7J7?B;8;97KI;?JI1+%J7=I7H;
;C8;::;:M?J>?DJ>;"DB?D;1+%:E9KC;DJ
,!Z
"DB?D;1+%-7NEDECONJ;DI?ED,9>;C7
E9KC;DJ


%Z
"DB?D;1+%-7NEDECO7B9KB7J?ED%?DA87I;
E9KC;DJ
%Z
"DB?D;1+%-7NEDECO%78;B%?DA87I;
E9KC;DJ
)+Z
"DB?D;1+%)H;I;DJ7J?ED%?DA87I;E9KC;DJ
Z
"DB?D;1+%-7NEDECONJ;DI?ED;?8?J
	
"D:?97J;IC7D7=;C;DJ9EDJH79JEH9ECF;DI7JEHOFB7D
9EDJH79J
EH7HH7D=;C;DJ
Z
"D:?97J;I;H;M?J>
Y
"D:?97J;I;:>;H;M?J>


(#)*'(
)KHIK7DJJEJ>;H;GK?H;C;DJIE<,;9J?EDEH:E;,;9KH?J?;IN9>7D=;9JE<
J>;H;=?IJH7DJ
>7I:KBO97KI;:J>?IH;FEHJJE8;I?=D;:ED?JI8;>7B<8OJ>;KD:;HI?=D;:
J>;H;KDJE:KBO7KJ>EH?P;:
"?5FDEC:6D?4@CA@C2E65
O

I
,9EJJ,7BC?HI
,9EJJ,7BC?HI
)H;I?:;DJ7D:>?;<N;9KJ?L;(<;H;GK?H;C;DJIE;,;9KH?J?;IN9>7D=;9JE<
J>?IH;FEHJ>7I8;;DI?=D;:8;BEM8O
J>; 7B< E< & "D:KIJH?;I 7D: ?D J>; 97F79?J?;I 7D: ED J>; :7J;I ?D:?97J;:
O

I
,9EJJ,7BC?HI
,9EJJ,7BC?HI
)H;I?:;DJ7D:>?;<N;9KJ?L;(<?D
7HB+BB?I
N;9KJ?L;/?9;)H;I?:;DJ7D:
>?;<?D7D9?7B(<?D
,;D?EH/?9;)H;I?:;DJ
>?;<99EKDJ?D=(<7A7H$;I7L7D


I
*K?D9O%BB;D
,K:>7A7H$;I7L7D

*K?D9O%BB;D
?H;9JEH
>7?HC7DE;E7H:7D:?H;9JEH
;9;C8;H

;9;C8;H


I
%;?=>DD; 7A;H


I
ED7B:EBB;H7D
%;?=>DD; 7A;H
?H;9JEH

ED7B:EBB;H7D
?H;9JEH
;9;C8;H

;9;C8;H


I
#7C;I;/H?;I

I
HJ 7H9?7
#7C;I;/H?;I
?H;9JEH

HJ 7H9?7
?H;9JEH
;9;C8;H

;9;C8;H


I
->EC7I& 7HJB7D:

I
#?BB& EB:;H
->EC7I& 7HJB7D:
?H;9JEH
#?BB& EB:;H
?H;9JEH
;9;C8;H

;9;C8;H


I
0?D?
Other annual reports

2025 Report ↗ 2024 Report ↗ 2023 Report ↗ 2022 Report ↗ 2021 Report ↗

Peers & competitors

ISC.TO Information Services Corporation ↗ CASS Cass Information Systems, Inc. ↗ BV BrightView Holdings, Inc. ↗ IRMTF Information Services Corporation ↗ RHLD Resolute Holdings Management, Inc. ↗