Quarterlytics / Technology / Software - Application / Autodesk

Autodesk

adsk · NASDAQ Technology
Claim this profile
Ticker adsk
Exchange NASDAQ
Sector Technology
Industry Software - Application
Employees 5001-10,000
Overview Coverage Annual Reports FAQ Peers Earnings Calls Financials News Management
← All annual reports
FY2024 Annual Report · Autodesk
Sign in to download
Loading PDF…
Annual 
Report 
FISCAL YEAR 
2024


E= ;R >:Q>H??B<>K :G= =BK>;>>G >Q=BGMA:MLNKLHGLF:R;>=>>F>=MH;>:??BEB:M>L/ABL=>M>KFBG:MBHGH?:??BEB:M>
LM:MNLBLGHMG><>LL:KBER:=>M>KFBG:MBHG?HKHMA>KINKIHL>L
LH?(:K K>@BLMK:GMA:=HNMLM:G=BG@LA:K>LH?CH86AN:6G:C9:9"6CJ6GN

DG

,*&+!,!'&*('*,(-*+-&,,'+,!'&
'*
', +-*!,!+
0 & , ' 

DGI=:IG6CH>I>DCE:G>D9;GDB
ID
DBB>HH>DC>A:&JB7:G	

5555555555555555555555555555555555555555555555555555555555555
-,'+#!&

M68IC6B:D;G:<>HIG6CI6HHE:8>;>:9>C>IH8=6GI:G
:A6L6G:
	

+I6I:DGDI=:G?JG>H9>8I>DC
D;>C8DGEDG6I>DCDGDG<6C>O6I>DC
!
*
+
:BEADN:G
!9:CI>;>86I>DC&D

'C:%6G@:I+IG::I+I:

+6C G6C8>H8D
6A>;DGC>6


99G:HHD;EG>C8>E6A :M:8JI>K:D;;>8:H
2>ED9:
*:<>HIG6CISHI:A:E=DC:CJB7:G>C8AJ9>C<6G:68D9:
	
5555555555555555555555555555555555555555555555555555555555555
+:8JG>I>:HG:<>HI:G:9EJGHJ6CIID +:8I>DC
7D;I=:8I
,>IA:D;:68=8A6HH
,G69>C<
+NB7DAH
&6B:D;:68=:M8=6C<:
DC L=>8=G:<>HI:G:9
DBBDC +ID8@

(6G.6AJ:
+#
,=:&6H96FAD76A+:A:8I%6G@:I
+:8JG>I>:HG:<>HI:G:9EJGHJ6CIID+:8I>DC
<D;I=:8I&DC:
5555555555555555555555555555555555555555555555555555555555555
$G=B<:M>;RK>@BLMK:GMBL:P>EE
DGHPGL>:LHG>=BLLN>K:L=>?BG>=BG-NE>H?MA>.>LL)H
$G=B<:M>;RK>@BLMK:GMBLGHMK>JNBK>=MH?BE>K>IHKMLINKLN:GMMH.>.>L QL)H 
$G=B<:M>;RMA>KMA>K>@BLMK:GM	A:L?BE>=:EEK>IHKMLK>JNBK>=MH;>?BE>=;R.> QIK><>=BG@
FHGMALHK?HKLNKI>KBH=MA:MMA>K>@BLMK:GMP:LK>JNBK>=MH?BE>LNIHKML	:G=	A:L;>>GLN;C>JNBK>F>GML?HKMA>I:LM
=:RL4>L)H
$G=B<:M>;RMA>KMA>K>@BLMK:GMA:LLN;FBMM>=>E>O>KR$GM>K::M:!BE>K>JNBK>=MH;>LN;FBMM>=INKLN:GMMH-NE>H?
->@NE:MBHG .
/WH?MABLK	 =NKBG@ MA> IK><>=BG@FHGMALHK?HKLNK I>KBH= MA:M MA> K>@BLMK:GMP:LK>JNBK>=MHLN;FBM:G=IHLMLNL	4>L )H  
$G=B<:M>;RMA>KMA>K>@BLMK:GMBL:E:K@>:<<>E>K:M>=?BE>K:G:<<>E>K:M>=?BE>K:GHG
:<<>E>K:M>=?BE>K:LF:EE>KK>IHKMBG@F>K@BG@@KHPMA>MA>=>?BGBMBHGLH?[E:K@>:<<>E>K:M>=?BE>K\[:<<>E>K:M>=?BE>K\[LF:EE>KK>IHKMBG@F>K@BG@@KHPMA;
H?MA> Q :<<>E>K:M>=?BE>K 
<<>E>K:M>=?BE>K 
)HG
:<<>E>K:M>= ?BE>K

.F:EE>KK>IHKMBG@K@BG@ @KHPMA F>K@BG@@KHPMA;RK>@BLMK:GMA:L>E>=GHMMHNL>MA>>QM>G=>=MK:GLBMBHGI>KBH=?HKPHK
K>OBL>=?BG:G=INKLN:GMMH.> Q;RMA>KMA>K>@BLMK:GMA:L?BE>=:K>IHKMHG:G=:MM>LM:MBHGMHBMLF:G:@>F>GM^L:LL>LLF>GMH?MA>>??>G>LLH?BMLBGM>KG:EK?BG:GIHKMBG@NG=>K.>.:K;:G>L
*QE>RK>@BLM>K>=IN;EB<:<I:K>=HKBLLN>=BML
:N=BM K>IHKM
$?L>L:K>K>@BLM>K>=INKLN:GMMH.>;RMA>KMA>?BG:GF>GMLH?MA>K>@BLMK:GMBG=BGMA>
?BEBG@K>?E>KKHKMHIK>OBHNLERBLLN>=?BG:GF>GML
$G=B<:M>;RMA>K :GR H? MAHL>>KKHKK>LM:M>F>GMLMA:MK>JNBK>=:K>KR:G:ERLBL H? BG<>GMBO>
;:L>=GL:MBHGK><>BO>=
;R :GR H? MA>K>@BLMK:GM^L>Q>H??B<>KL =NKBG@ MA>K>E>O:GMK>KR I>KBH=INKLN:GMMHW
;	
$G=B<:M>;RMA>KMA>K>@BLMK:GMBL:LA>EE?BG>=;R-NE>;
H?MA> QL
)H 
LH?%NERMA>E:LM;NLBG>LL=:RH?MA>K>@BLMK:GM^LFHLMK><>GMERM>=L>KMA>K>P>K>:IIKHQBF:M>ERFBEEBHGLA:K>LH?
MA> K>@BLMK:GM^L K>A>E=;RGHG
:??BEB:M>L:G=MA>:@@K>@:M>F:KD>M O:EN> H? LNLA>E=;RGHG
:??BEB:M>LH?MA>K>@BLMK:GM
;:L>= HG MA> IKB<>H?LNL HG MA> ):L=:J"EH;:E.>E>M HG%NER	 P:L :IIKHQBF:M>ER;BEEBHG .A:K>L H? MA> K>@BLMK:GM^L

0($&,'*1&',
LIK>OBHNLER:GGHNG<>=HGIKBEMA>N=BMHFFBMM>>H?MA>H:K=H?BK>[HFFBMM>>\	:LLBLM>=;R
HNMLB=>E:G=:=OBLHKLBGBMB:M>=:GBGM>KG:EBGO>LMB@:MBHGK>@:K=BG@MA>HFI:GR^L?K>><:LA?EHP:G=GHG
"+
HI>K:MBG@F:K@BGIK:LMA>[$GO>LMB@:MBHG\	/A>HFFBMM>>A:LM>=BMLIE:GG>=IKH<>=NK>LPBMAK>LI>
$GO>LMB@:MBHG
/A>HFI:GR^LF:G:@>F>GMA:L=>M>KFBG>=MA:MMA>K>PBEE;>GHK>LM:M>F>GMHK:=CNLMF>GMH?:GR:N=BM>=HKNG:N=BM>=
?BE>=HKIK>OBHNLER:GGHNG<>="+HKGHG
"+?BG:GF>GMLHK:GRMHMA>BG?HKF:MBHGBGMA>HFI:GR^L
>:KGBG@LK>E>:L>HG!>;KN:KRHKMA>HFI:GR^LIK>OBHNLERBLLN>=@NB=:G<>
/A>K>E>O:GMMBF>I>KBH=?HKMA>$GO>LMB@:MBHGP:L?BL<:ER>:KL:G=LNFF:KRH?MA>IKBGHFFBMM>>:K>L>M?HKMA;>EHP
X /A>HFI:GRA:LABLMHKB<:EERK>EB>=HGFNEMBR>:KGM>KIKBL>:G=IKH=NKL
;BEE>=NI?KHGMMHA>EIF>>MBML?K>><:LA?EHPM:K@>MLNKBG@MA>K>E>O:GMI>KBH=MA>HFI:GR>G@:@>=BGIKH@K:FL=>LB@G>=
MHBG<>GMBOBS>KLMH:<<>IMFNEMBR>:KNI?KHGM;BEEBG@K>G>P>:KER:G=HKI:R;>?HK>MA>>G=H?MA>?BL<:ER>:K
X /A>HFI:GRA:L=BL=BMLIK:H?BG<>GMBOBSBG@KLMH:=HIMFNEMBR>:KNI?KHGM;BEEBG@:KK:G@>F>GML$M
A:L:ELH:=@>=MA:M=BL=FNEMBR>:KNI?KHGM=N<>K>O>GN>:G=EHP>K;BEEBG@LBGHNMR>:KL/AHN@AIKBHK
MH?BL<:ER>:KMA>HFI:GR=B=GHMJN:GMB?R?K>><:LA?EHP:MMKB;NM:;E>MHFNEMBR>:KNI?KHGM;BEEBG@LBMA:LGHM>=MA>
HFI:GR^LJN:KM>KERK>IHKM>=EHG@
M>KF=>?>KK>=K>O>GN>
X NKBG@?BL<:ER>:KMA>HFI:GR:GGHNG<>=MA:MBMA:=;>@NGMHLAB?M>GM>KIKBL>KLMH=
:GGN:EER:G=MA:MBMA:=:LLNF>=?BL<:E>GM>KIKBL>;BEE>=:GGN:EER/A>HFI:GRLN;L>JN>GMER
=>M>KFBG>=AHP>O>KMHINKLN>FNEMBR>:KNI?KHGMGM>KIKBL>KLMHA>EIF>>MBML?BL<:ER>:K?K>><:LA
?EHP@H:E0I?KHGM;BEEBG@LH?>GM>KIKBL>KLBG?BL<:ER>:KLN;LM:GMB:EER>Q<>>=>=ABLMHKB<:EE>O>ELA>EIBG@MA>
HFI:GRMHF>>MBMLEHP>K>=:GGN:E?K>><:LA?EHPM:K@>M
X $G:==BMBHG=NKBG@MA>K>E>O:GMI>KBH=<>KM:BG=>@:K=BG@=BLMBHG:KRLI>G=BG@P>K>BG?HKF>=;RMA>BK:GMB=>??>HFI:GR^L>QM>KG:E?K>><:LA?EHP:G=HKGHG
"+HI>K:MBG@
F:K@BGM:K@>ML/A>K>LNEMBG@:G>K:EERL>KO>=MHK>=N<>K>IHKM>=?K>><:LA?EHP:G=HKEHP>KK>IHKM>=F:K@BGBGMA>
GMI>KBH=/AHN@A?K>><:LA?EHPP:LHG>?:HFI:GR^L>Q>GL:MBHGIKH@K:FMA>L>=>K>
GHM<:E=MHBG?EN>G<>GL:MBHGHNML
/A>HFFBMM>>IKHIHL>=<>KM:BGK>F>=B:EF>:LNK>LBGOB>PBG@<>KM:BGIKH<>LL>L:KHNG=?BG:GL:LL>LLBG@<>KM:BGHFI:GRHK@:GBS:MBHG:E?NGLIHGLB;BEBMB>L:G=:=HIMBG@:G=
>GA:GLIKH<>LL>L:G=E:M>=MHMA>F:MM>KLBGO>LMB@:M>=
/A>HFI:GRL>I:K:M>ERGHM>LMA:MFNEMBR>:KNI?KHGM;BEEBG@LH?>GM>KIKBL>KLBG?BL<:ER>:KP:L
LN;LM:GMB:EEREHP>KMA:G?BL<:ER>:KL:G=
 EBS:;>MA>MLR	-:?:>EA:L;>>G:IIHBGM>=;RMA>H:K=:L$GM>KBFAB>?!BG:GK+KBGK	>??>(:RL$GM>KBFAB>?!BG:GKLA>BLGHMGMER:G[BG=>I>G=>GM=BK>LH?MA>):L=:J.MHM:G=A:LLM>II>==HPG?KHFMA>HFFBMM>>.A>K>F:BGL:=BK>HFI:GR
>;HK:A'EB??HK=A:L;>>G:IIHBGM>=:LMA>HFI:GR^LAB>?.MK:M>@R*??B<>KK>IHKMBG@MHMA>AB>? Q>
*??B<>K>??>(:R#>KK>LIHGLB;BEBMB>LPBEEBG:FHG@HMA>KMABG@L=>O>EHIF>GMG>PO>KMB<:E
;NLBG>LL>LMA:M:K>HNMLB=>HNK>QBLMBG@IKH=N??HKML

-,'+#!&
'*%
	#
,$''&,&,+
(6<:
(*,!
$M>F
NLBG>LL

$M>F
-BLD!:F
0GK>LHEO>=.M:??HFF>GML

$M>F
R;>KL>F
+KHI>KMB>L

$M>F
'>@:E+KH<>>=BG@L

$M>F
(BG>.:?>MRBLL

(*,!!
$M>F
(:KD>M?HK->@BLMK:GM^LHFFHG JNBMR->E:M>=.MHK(:MM>KL:G=$LLN>K+NKL
H? JNBMR.>L

$M>F
6->L>KO>=7

$M>F
(:G:@>F>GM^LBLLNEMLH?*I>K:MBHGL

$M>F
,N:GMBM:MBO>:G=,N:EBM:MBO>BLL;HNM(:KD>M-BLD

$M>F
!BG:GF>GML:G=.NIIE>F>GM:KR:M:

$M>F
A:G@>LBG:G=BL:@K>>F>GML2BMA<

$M>F
HGMKHEL:G=+KH<>=NK>L

$M>F
*MA>K$G?HKF:MBHG

$M>F
BL->@:K=BG@!HK>B@G%NKBL=BO>GM$GLI>F
BK>*??B<>KL:G=HKIHK:M>"HO>KG:G<>

$M>F
 Q>HFI>GL:MBHG

$M>F
.>KLABIH?>KM:BG>G>?BKL:G=(:G:@>F>GM:G=->E:M>=.MHK
(:MM>KL

$M>F
>KM:BG->E:MBHGLABIL:G=->E:M>=/K:GL:I>G=>G<>

$M>F
+KBG>L:G=.>KOB<>L

(*,!.
$M>F
 QAB;BML:G=!BG:GF>GM.=NE>L

$M>F
!HKF
&.NFF:KR

.B@G:MNK>L


'*/*	$''#!&!&'*%,!'&
)4105?/A??5;:5:@45?::A-8'1<;>@;:;>9
 /;:@-5:?@>1:0-:-8E?1?-:0;@41>2;>C->08;;75:3?@-@191:@?C5@45:
@4191-:5:3;2(1/@5;:;2@41(1/A>5@51?/@;2

-:0(1/@5;:;2@41(1/A>5@51?D/4-:31/@;2
;>C->0
8;;75:3?@-@191:@?9-E-<<1->@4>;A34;A@@45?::A-8'1<;>@;:;>9
 5:/8A05:3@412;88;C5:3?1/@5;:?
HA?5:1??I%->@@19H'5?7-/@;>?I%->@@19-:0H"-:-3191:@J?5?/A??5;:-:0:-8E?5?;25:-:/5-8
;:05@5;:-:0'1?A8@?;2$<1>-@5;:?I%->@@19;>C->08;;75:3?@-@191:@?->1-:E?@-@191:@?@4-@8;;7@;2A@A>1
1B1:@?-:0/;:?5?@;2-9;:3;@41>@45:3?;A>.A?5:1???@>-@1351?2A@A>125:-:/5-8>1?A8@?.E<>;0A/@@E<1-:031;3>-<4E
;<1>-@5;:-8-:071E91@>5/?-:0?A.?/>5<@5;:?@411221/@?;238;.-81/;:;95/-:0<;85@5/-8/;:05@5;:?5:/8A05:3@4159<-/@;2
1/;:;95/B;8-@585@E-:031;<;85@5/-8-/@5B5@51?5:/1>@-5:/;A:@>51??A/4-?@41'A??5-:5:B-?5;:;2*7>-5:1@4159<-/@;2<-?@
-:0<8-::10-/=A5?5@5;:?-:05:B1?@91:@-/@5B5@51?1D<1/@109->71@@>1:0?-:09->71@;<<;>@A:5@51?;A>-.585@E@;?A//1??2A88E
1D<-:0-0;<@5;:;2;A><>;0A/@?;A>-.585@E@;3-5:9->71@-//1<@-:/1;2:1C.A?5:1??1?-:0?-81?5:5@5-@5B1?/E.1>?1/A>5@E
-:0<>5B-/E5??A1?;>5:/501:@?@411221/@;2/;9<1@5@5;:@411221/@;2A:19<8;E91:@@41-B-58-.585@E;2/>105@@411221/@?;2
>1B1:A1>1/;3:5@5;:@411221/@?;2:1C8E>1/1:@8E5??A10-//;A:@5:3?@-:0->0?1D<1/@10@>1:0?5:/1>@-5:25:-:/5-891@>5/?
5:/8A05:31D<1:?1?1D<1/@-@5;:?>13->05:3;A>/-?4:110?-:01D<1:05@A>1?@411221/@?;228A/@A-@5;:?5:1D/4-:31>-@1?-:0
;A>41035:3-/@5B5@51?;:;A>25:-:/5-8>1?A8@?@411221/@;28-C?-:0>13A8-@5;:?@4-@C1->1?A.61/@@;@41@595:3-:0-9;A:@
;2/4-?1?A:01>;A>?@;/7>1/4-?1<8-:-:0@411221/@?;2<;@1:@5-8:;:/-?4/4->31?;:;A>25:-:/5-8>1?A8@?-:0@41
>1?A8@5:31221/@;:;A>25:-:/5-8>1?A8@?:-005@5;:2;>C->08;;75:3?@-@191:@?-8?;/;:?5?@;2?@-@191:@?5:B;8B5:3
1D<1/@-@5;:?>13->05:3<>;0A/@/-<-.585@E-:0-//1<@-:/1?@-@191:@?>13->05:3;A>85=A505@E-:0?4;>@@1>9-:08;:3@1>9
/-?4>1=A5>191:@?-?C188-??@-@191:@?5:B;8B5:3@>1:0-:-8E?1?-:0?@-@191:@?5:/8A05:3?A/4C;>0?-?H9-EIH.1851B1I
H/;A80IH-:@5/5<-@1IHC;A80IH9534@IH<8-:IH1D<1/@I-:0?5958->1D<>1??5;:?;>@41:13-@5B1;2@41?1@1>9?;>;@41>
/;9<->-.81@1>95:;8;3E)41?12;>C->08;;75:3?@-@191:@??<1-7;:8E-?;2@410-@1;2@45?::A-8'1<;>@;:;>9
 -:0
->1?A.61/@@;.A?5:1??-:01/;:;95/>5?7???A/4;A>-/@A-8>1?A8@?/;A8005221>9-@1>5-88E2>;9@4;?1?1@2;>@45:@41
2;>C->08;;75:3?@-@191:@?-?->1?A8@;2-:A9.1>;22-/@;>?5:/8A05:3@4;?1?1@2;>@4.18;C5:@19H'5?7-/@;>?I-:0
5:;A>;@41>>1<;>@?25810C5@4@41*((1/A>5@51?-:0D/4-:31;995??5;:,1-??A91:;;.853-@5;:@;A<0-@1@412;>C->0
8;;75:3?@-@191:@?@;>1281/@1B1:@?@4-@;//A>;>/5>/A9?@-:/1?@4-@1D5?@-2@1>@410-@1;:C45/4@41EC1>19-011D/1<@-?
>1=A5>10.E8-C

(*,!
!,%
-+!&++
&DI:CI=>HDGB
	#6EE:6GH6II=::C9D;I=>H!I:B
&*$
2>:K>:@EH;:EE>:=>KBG=>LB@G>G@BG>>KBG@:G=>GM>KM:BGF>GMM>
>G@BG>>KBG@LB@GF:GN?:=B::G=>GM>KM:BGF>GM*NKKL=>LB@G?:;KB<:M>
F:GN?::G=;NBE=:GRMABG@;ROBLN:EBSBG@LBFNE:MBG@:G=:G:ERSBG@K>:E
PHKE=I>K?HKF:G<>>:KERBGMA>=>LB@GIKH<>LL
/A>L><:I:;BEBMB>L:EEHPHNKKLMH?HLM>KBGGHO:MBHGHIMBFBS>MA>BK=>LB@GLLMK>:FEBG>MA>BKF:GN?:LL>LL:O>MBF>:G=FHG>RBFIKHO>JN:EBMR=>EBO>KFHK>LNLM:BG:;E>HNMLIE:GL:G=
PBMAHMA>KL*NKIKH?>LLBHG:ELH?MP:K>IKH=NLHE=@EH;:EERMAKHN@A:EL
;><;>-@1:2;>9-@5;:
*NKBGM>KG>M:==K>LLBLPPP:NMH=>LDBG?HKF:MBHGIHLM>=HGHNKP>;LBM>BLGHMBG=BGMHMABLGGN:E
->IHKMHG!HKF
&*NKGGN:E->IHKMHG!HKF
&,N:KM>KER->IHKMLHG!HKF
,NKK>GM->IHKMLHG!HKF
&:G=
:F>G=F>GMLMHK>IHKML?BE>=HK?NKGBLA>=INKLN:GMMH.>.>L QG=>=:K>:O:BE:;E>?K>>H?HGMA>$GO>LMHK->E:MBHGLIHKMBHGH?HNKP>;LBM>:MPPP:NMH=>LD:LHG:;ERIK::?M>KP>>E>LNKB:EPBMAHK?NKGBLABMMHMA>. 
(*'-,+
*NK:K>G@BG>>KBG@:G=MA>P:R;NBE=BG@BG?K:LMKN:G=BG=NLMKB:EIKHC>=>LB@G>=;NBEM:G=HI>K:M>=*NKIKH=NO>EHIF>GM:G=F:GN?:IKHOB=>LF:GN?:KLBG:NMHFHMBO>
MK:GLIHKM:MBHGBG=NLMKB:EF:KRKIKH=NLPBMAA>GLBO>=B@BM:E=>LB@G
>G@BG>>KBG@F:GN?:L>M>L;KBG@MH@>MA>K=:M:?KHF:EEIA:L>LH?MA>IKH=NO>EHIF>GM:G=IKH=N:MBG@:=B@BM:EIBI>EBG>MA:MLNIIHKML@K>:M>KIKH=NLL
:NMHF:MBHG:G=BGLB@AMLMA:M>G:;E>FHK>LNLM:BG:;E>HNML*NK=B@BM:EF>=B::G=>GM>KM:BGF>GMIKH=NMHHEL?HK
=B@BM:ELEBG@:GBF:MBHG>??>G=>KBG@:G=LB@GOBLN:EBS:MBHGOBLN:E>??>L
IKH=NG:;E>L
IKH=NKOB<>L>G:;E>LHNKKLMH?HLM>KBGGHO:MBHGHIMBFBS>:G=BFIKHO>MA>BK=>LB@GLL:O>MBF>:G=FHG>RBFIKHO>
JN:EBMRIE:GL:G=PBMAHMA>KLLNFF:KRH?HNKK>O>GN>;R@>H@K:IAB<:K>::G=IKH=NF)HM>[->O>GN>->)HM>LMHHGLHEB=:M>=!BG:GF>GML
NMH=>LD^LIKH=NKBG@LBG
>/45@1/@A>1:35:11>5:3-:0;:?@>A/@5;:HI
G
>/45@1/@A>1:35:11>5:3;:?@>A/@5;:;881/@5;:
/A> HEE>OBM:BFLMHA>EIHNKKL=>LB@G>G@BG>>K
:G=KJN:EBMRFHK>IK>=B;NBE=BG@:G=IKHC>=;R BG=NLMKR
>QI>KML


G
A@;5B58

NMHBOBELHENMBHGIKHOB=>L:LNKO>RBG@=>LB@G:G:ERLBL:G==HGM:MBHGLHENMBHG?HKG@BG>>KBG@
BGO>EHIF>GMMK:GLIHKM:MBHG:G=>GOBKHGF>GM:EIKHC>E
<>GMKB<:IIKH:L=HGM:MBHG:L=>LB@GL:K>F:=>NMHBOBE>G:;E>LG@BG>>KL=>LB@G>KL=K:?M>KL:G=
LNKO>RHKLMHLB@GB?B<:GMER;HHLMIKH=NEBO>KAB@A>K
JN:EBMR=>LB@GL:G=GM:MBHG?:LM>K2BMA
NMHBOBEMA>>GMBK>IKHC>:FPHKDL?KHFMA>L:F>GMNI
MH
=:M>FH=>ELHMA>RLM:R=
MAKHN@AHNM:EEIKHC>L
G
A@;01?7A580
NMH=>LDNBE==>EBO>KL:=L>MH?IKHC>F>GM:G=LDNBE=IKHOB=>L:MHHEL>M?HKF:G:@BG@LA:KBG@:G=:<<>LLBG@IKHC>GMLMA:MK>LNEMLBGLMK>:FEBG>=
PHKD?EHPL;>MP>>GMA>H??B<>MK:BE>K:G=CH;LBM>$G:==BMBHGNMH=>LDNBE=<:G;>NL>=MHMK:JN:EBMR:G=L:?>MRH?MA>
IKHC>L:G=?HKFL/>:FF>F;>KL<:GNL>NMH=>LDNBE=?HKK>JN>LML?HKBG?HKF:MBHG-!$L	LN;FBMM:EL:G=
F>>MBG@LMHF:G:@>MA>?EHPH?BG?HKF:MBHG:G=MK:LL:EBG>/A>+E:G"KB=NBE=
FH;BE>:II=>EBO>KL?B>E=LDNBE=MHMA>CH;LBM>LI:KMH?NMH=>LD
HGLMKNLB@G:G=IK>K:MBHGLIA:L>
:EEHPBG@NL>KLMHB=>GMB?RF:G:@>:G==>
KBLDIKHC>-@1%>;
NMH=>LD$(HEE:;HK:M>+KHBL==>LB@GLB@GF:G:@>F>GMLH?MP:K>MA:M>G:;E>LM>:FL
MHHK@:GBS>IKHC>FH:<<>LL:G=IKHC>EBO>KHGMBF>:G=PHKDMH@>MA>KHG
BG:LBG@ERQIKHC>=BL:.::.IK>LMA>E:K@>LMK>:E
MBF>MPHKDPBMA
:G>:LR
MH
NL>MHHEMA:MA>EIL@>G>K:EKLLMK>:FEBG>LN;;B=:G=KBLD
F:G:@>F>GMIKH<>LL
G
'1B5@
->OBMLH?MP:K>BL;NBEM?HKNBE=BG@$G?HKF:MBHG(H=>EBG@[$(\	MHA>EIIKH?>LLBHG:EL=>LB@G;NBE=:G=F:BGM:BG
AB@A>K
JN:EBMRFHK>>G>K@R
>??BGM;NBE=BG@L0LBG@MA>BG?HKF:MBHG
KBEL:M>=PBMA->OBM:KG@BG>>KL
:G=MHF:D>;>MM>K
BG?HKF>==>:KEB>KBGMA>=>LB@GIKH<>LLMH=>EBO>KIKHC>:M>K>??BGOBMBGL?>:MNK>L?HK:KE>LB@G:LP>EE:LLMKNG@BG>>KBG@:G=A>GLBO>LHENMBHG?HKMA>>GMBK>;NBE=BG@IKHC>:F
A@;-:0A@;!)
G
A@;
NMHLH?MP:K>BL::G=>QM>GLB;E>:IIEB<:MBHG?HKIKH?>LLBHG:E=>LB@G=K:?MBG@=>M:BEBG@:G=
OBLN:EBS:MBHGNMHLH?MP:K>IKHOB=>L=B@BM:EMHHELMA:M<:G;>NL>=BG=>I>G=>GMER:G=BGKLI>E=LK:G@BG@?KHFG@BG>>KBG@MHF:GN?:LB@G
G
A@;!)
NMH'/LH?MP:K>BLINKIHL>;NBEM?HKIKH?>LLBHG:E=K:?MBG@:G==>M:BEBG@NMH'/BGL=HGMLA:KBG@
<:I:;BEBMRPBMAHNMMA>G>>=?HKLH?MP:K>KM:BG:=O:G<>=?NGKL<:GLA:K>:EE
=>LB@G=:M:PBMAM>:FF>F;>KLPAHNL>NMHHKHMA>KNMH=>LDIKH=N5:3H"I
G
A?5;:;>91>8EA?5;:




!NLBHGBLMA>?BKLM(:G=K
:B=>=>G@BG>>KBG@[ \	MHHEH?BMLDBG=$M>GMBK>
IKH=NO>EHIF>GMIKH<>LLHG:LBG@E>=IE:M?HKF
G
:B1:@;>
$GO>GMHK>G:;E>LF:GN?:KLMH@H;>RHG==>LB@GMH=B@BM:EIKHMHMRIBG@;R@BOBG@>G@BG>>KL:A>GLBO>:G=
?E>QB;E>L>MH?MHHEL?HKF>LB@GLBFNE:MBHG:G:ERLBLMHHEBG@OBLN:EBS:MBHG:G==HGM:MBHG G@BG>>KL<:G
BGM>@K:M>NMH=K:PBG@L:G=FH=>E
;:L>==>LB@G=:M:BGMH:LBG@E>=B@BM:EFH=>E:MBG@:OBKMN:EK>IK>L>GM:MBHGH?:?BG:E
IKH=NG:;E>LMA>FMHO:EB=:M>MA>?HKF?BM:G=?NGIKH=N?HK>BMBL>O>K;NBEM
G
%>;0A/@1?53:"-:A2-/@A>5:3;881/@5;:
/A>+KH=NLB@G(:GN?:KL=IKH?>LLBHG:E
@K:=>MHHELMA:MA>EIHNKKLF:D>
@K>:MIKH=NM>BGMA>H?MA>?NMNK>/A>KL:<<>LLMH:PB=>
K:G@>H?HNKIKH=NGMHK
G
+-A8@
1:NEM=:M:F:G:@>F>GMLH?MP:K>F:D>LBM>:LB>KMHF:G:@>=:M:BGHG><>GMK:EEH<:MBHG:<<>E>K:M>=>LB@GIKH<>LL>L:G=
LMK>:FEBG>BGM>KG:E>QM>KG:E@K:M>LPBMAFHK>MA:GNMH=>LD=>LB@G:IIEB<:MBHGLIKHOB=>LIHP>K?NE
K>OBLBHGBG@:G=:<<>LLL:G=>G:;E>LKLMHLA:K>IKH=NERMHBFIKHO>>G@BG>>KBG@
MBF>:G=K>=N<>F:GN?:KKHKL
"105--:0:@1>@-5:91:@H"I
G
8;C%>;0A/@5;:)>-/75:3/A>>1:@8E(4;@>50
!EHP+KH=N=LH?MP:K>?HKK>OB>P:G=IKH=N( BG=NLMKRK>:MBO>
LNL>MA>!EHP+KH=N>LL>GMB:E;NLBG>LLMHHEL?HKF:G:@>KL:G=OBLN:EKOBLHKLPAHH?M>GPHKD@EH;:EERPBMA=BLMKB;NM>=M>:FL
G
"-E-
(:R:LH?MP:K>IKHOB=>LFH=>EBG@:GBF:MBHG>??>G=>KBG@:G=G:;E>?BEF:G=OB=>H
:KMBLML@:F>=>O>EHI>KL:G==>LB@GOBLN:EBS:MBHGIKH?>LLBHG:ELMH=B@BM:EER:M>>G@:@BG@EB?>EBD>BF:@>LK>:EBLMB<:GBF:MBHGL
:G=LBFNE:MBHGL>QMK:HK=BG:KROBLN:E>??>G@MA:GBF:M>=?>:MNK>?BEFL
G
"105-:@1>@-5:91:@;881/@5;:
/A>( HEE>L>G=
MH
>G=:MBO>MHHEL?HK>GM>KM:BGF>GM:MBHG/ABLG:;E>L:GBF:MHKL
FH=>E>KL:G=OBLN:E>??>LLMA>MHHELMA>RG>>=BG:M>EEBG@>??>KL:G==B@BM:EPHKE=L
G

0?"-D
=L(:QLH?MP:K>IKHOB=>LFH=>EBG@:GBF:MBHG:G=K>G=>KBG@LHENMBHGLMA:M>G:;E>@:F>=>O>EHI>KL=>LB@G
OBLN:EBS:MBHGIKH?>LLBHG:EL:G=OBLN:E>??>:M>K>:EBLMB<BF:@>L:GBF:MBHGL:G=QL<>G>L:G=MH
=B@BM:EER:;LMK:QF>G@BG>>KBG@:G=IML
(*'-,.$'(%&,&!&,*'-,!'&
/A>M>KBS>=;RK:IB=M>BGKA:K=P:K>HI>K:MBG@LRLM>FL:G=
LH?MP:K>$G:==BMBHGHNKKL^K>JNBK>F>GML:G=IK>?>K>G<>LK:IB=ER>OHEO>:L=HMA>BK>QI>I>K?HKF:G<>
H?HNKLH?MP:K>:G=L>KOB<>L/HD>>II:<>PBMAMA>L>LP>F:BGM:BG:OB@HKHNLIKH@K:FH?G>PIKH=NO>EHIF>GMMH
:==K>LL=>F:G=LBGMA>F:KD>MIE:<>?HKHNKIKH=NG:;EBG@FHK>?E>QB;BEBMR:G=LNLM:BG:;E>HNML
2BMAMA>G>PMK:GL:EP>:K>:IIKH:?BG:EIA:L>H?FH=>KGBSBG@HNK@H
MH
F:KD>MFHMBHGPABL;NBE=BG@FHK>=NK:;E>:G==BK>E:MBHGLABILPBMAHNKKLNI=:MBG@HNK=:M:BG?K:LMKN:G=K>MBKBG@HE=


BG?HKF:MBHGLRLM>FL:G=;NLBG>LLFH=>EL2>:K>NG=>KM:DBG@:FNEMB
R>:KIKH<>LLMH=>O>EHIEB?>LHENMBHGLPBMABG:G=
;>MP>>GHNKBG=NLMKRK>=;RLA:K>=IE:M?HKFL>KOB<>L:G=PBMAHNK=:M:FH=>E:MBML/H@>MA>KMA>L>PBEEA>EI
>G:;E>NMH=>LDBMLKL:G=I:KMG>KLMH:M>FHK>O:EN:;E>=:M:
=KBO>G:G==IKH=NKOB<>L
.N;LKBG@L:K>=>LB@G>=MH@BO>HNKKLBG:L>=?E>QB;BEBMRPBMAAHPMA>RNL>HNKIKH=NKOB<>H??>KBG@L:G=MH:MMK:KK:G@>H?KLLN=NL>KL:G=LF:EE;NLBG>LL>L.N;LIK>L>GM:=AR;KB=H??>KBG@H?=>LDMHILH?MP:K>:G=L:=>OB<>
BG=>I>G=>GM
=>LB@GPHKD?EHP?HK=>LB@G>KL:G=MA>BKLM:D>AHE=>KL
2>=>=B<:M>K:;E>M>LHNK<>LMHK>L>:KO>EHIF>GMMH=>EBO>K:==BMBHG:E:NMHF:MBHG
:G=BGLB@AMLMHHNKKLMAKHN@A:KMB?BEEB@>G<>[$\	F:E>:KGBG@:G=@>G>K:MBO>=>LB@GPAB:L>
>??BG=N<>P:LM>/A>L>BGO>LMF>GML?NKMA>K>GA:G<>HNK>QBLMBG@IKH=N:M>G>P
LHENMBHGL:G=M>LPABPHKD?EHPL:G==:M:H?HNKKL:>FH?MA>BKIKHC>QI:G=HNKF:KD>MHIIHKMNGBMR*NKMHHELMA>IA:L>LH?=>LB@G:G=:MBHG>G:;EBG@@K>:M>K
L>:FE>LL?EHPH?=:M:?HKBG=BOB=N:EL:G=M>:FL:L
*NKLH?MP:K>BLIKBF:KBER=>O>EHI>=BGM>KG:EERAHP>O>KP>:ELHNL>BG=>I>G=>GM?BKFL:G=K?HKFLHF>
H?HNKIKH=NO>EHIF>GM:L==BMBHG:EERP>:HKEB<>GL>IKH=NL=>O>EHI>=;RMABK=I:KMB>L
2>OB>PMA>L>BGO>LMF>GMLMH>GLNK>MA:MP>:K>@>G>K:MBG@LN??BGMK>O>GN>HK@:BGBG@:MBMBO>:=O:GM:@>
MHCNLMB?RMA>BKF:CHKBMRH?HNKK>L>:KO>EHIF>GMBLI>K?HKF>=BGMA>0GBM>=.M:M>L:G:=:ABG:$G=B:
.BG@:IHK>:G=MA>0GBM>=&BG@=HF#HP>O>KP>>FIEHR>QI>KB>G<>=LH?MP:K>=>O>EHI>KLBGF:GRH?HNKHMA>KEH<:MBHGL
/K:GLE:MBHG:G=EH<:EBS:MBHGH?HNKIKH=NI>K?HKF>=BGL>O>K:EEH<:EF:KD>MLIKBG:G=$K>E:G=2>
@>G>K:EEREH<:EBS>:G=MK:GLE:M>HNKIKH=NKF:G!K>GL>&HK>:G:G=LBFIEB?B>=:G=
MK:=BMBHG:EABG>L>
2>IE:GMHF:G:@BG@LB@GB?B<:GMIKH=NO>EHIF>GMHI>K:MBHGLBGM>KG:MBHG:EERHO>KMA>G>QML>O>K:ER>:KL2>
;>EB>O>MA:MHNK:;BEBMRMHL>:KO>EHIF>GM:MO:KBHNLEH<:MBHGLMAKHN@AHNMMA>PHKE=:EEHPLNLMHM:IBGMH:
=BO>KL>@EH;:EM:E>GMIHHEHIMBFBS>@K:M>EH<:EF:KD>MDGHPE>=@>BGMHHNK=>O>EHIF>GM:L2>LLG@>L:G=BGM>EE>KMRIKHM>;>G>?BMLH?HNKBGM>KG:MBHG:E=>O>EHIF>GM
:L
!HK?NKMA>K=BL@:K=BG@KBLDL?KHFHNKIKH=NO>EHIF>GM:G=BGMKH=N??HKMLL>>$M>F[-BLD
!:L>EEHNKIKH=NKOB<>L@EH;:EERMAKHN@A:EL2>MK:GL:GM>KIKBL>:G=G:F>=:<KLPBMAKLMAKHN@AHNKHGEBG>NMH=>LD;K:G=>=LMHK>:G=PBMA<>KM:BG
KLMAKHN@AHNKG>PMK:GL:EPA>K>;REI:KMG>KLIKHOB=>:JNHM>MHKL;NMMA>:MP>>GNMH=>LD:G=MA>K2>BGMKH=N<>=MABLG>PMK:GL:E?HKHNKMHD>G
;:L>=!E>Q
H??>KBG@BG<>KM:BGL@EH;:EER:G=?HKFHLMH?HNKLN;LKBG@LBGNLMK:EB:=NKBG@?BL<:E>I>G=>GM
NIHGLN<<>LL?NEBFIE>F>GM:MBHGBGNLMK:EB:P>BGM>G=MHMK:GLBMBHGHNKBG=BK>LLMHMA>G>PMK:GL:EFHK>
;KH:=ER?HKFHLMH?HNKLN;LKBG@LBG)HKMAF>KB<::G=<>KM:BGLBG NKHI>(B==E> :LM:G=?KB<:
[ ( \	:G=LB:+:G>PMK:GL:EBL:GMB=MHA>EI
KLPBMA>GA:G<>=L:OBG@LMAKHN@AL>E?
L>KOB<>GMIKBI>KLHG:EBS>=;NRBG@
>QI>KB>G<>ELHBMPBEE@BO>I:KMG>KL:G=NMH=>LD:<<>LLMH>LL>GMB:E=:M:MHBFIKHO>HNKH??>KBG@L:G=MA>KL^
;NRBG@>QI>KB>G<>*NKBG=BK>EFH=>EBGL;HMA:MPH
MB>K>==BLMKB;NMBHGLMKNPA>K>=BLMKB;NMHKLL>EEMH
K>L>EE>KL:G=:HG>
MB>K>=LMKNPA>K>NMH=>LDL>EEL=BK>L>EE>KL2>A:O>:G>MPHKDH?:IIKHQBF:M>ER
K>L>EE>KL:G==BLMKB;NMHKLPHKE=PB=>!HK?BL<:E:IIKHQBF:M>ERH?HNKK>O>GN>P:L=>KBO>=?KHFBG=BK>E
L:E>LMAKHN@A=BLMKB;NMHKL:G=K>L>EE>KL2>>FIEHR:O:KB>MRH?BG<>GMBO>IKH@K:FL:G=IKHFHMBHGLMH:EB@GHNK=BK>ELPBMAHNK;NLBG>LLLMK:M>@B>L
2>:GMBMA:MHNKEFBQPBEEMH:LP>L<:E>HNK;NLBG>LL2BMAMA>=@KHPMAH?HNK
HGEBG>NMH=>LD;K:G=>=LMHK>MA>MK:GLBMBHGMH:GGN:E;BEEBG@L?HKFNEMB
R>:KBGMKH=NP
MK:GL:EP>PBEE;>=>:LBG@HNKL:E>LMAKHN@AO:EN>
:==>=K>L>EE>KL:G==BLMKB;NMHKL:G=MK:GL:>G=KLPBMAHNMLN;LM:GMB:E=BLKNIMBHGMHHNKK>O>GN>2>>QI>EPBEEMHMK:GL:K:;E>IHKMBHGH?HNKKLI:KMBF>K@BG@K>@BHGL:G=PBMA?>=>K:E@HO>KGF>GML*NK:;BEBMRMH


>??>ER=BLMKB;NM>HNKIKH=NI>G=LBGI:KMNIHGMA>?BG:GLLL>EE>K:G=
.HENMBHG+KHOB=>KG>MPHKDL/A>EHLLH?HK:LB@GB?B<:GMK>=NLLPBMA:GRHG>H?HNKF:CHK=BLMKB;NMHKLE:K@>
K>L>EE>KLHK.HENMBHG+KHOB=>KLLL.>>$M>F[-BLD!:K=BLMK:GLBMBHGMH
:GGN:E;BEEBG@L?HKFNEMB
R>:K=MA>MBFBG@H?HNK;BEEBG@L:G=<:LA:K:G=P>
>QI>BGMH?BL<:ER>:K.>>+:KM$$$M>F[(:G:@>F>GMLBLLNEMLH?*I>K:MBHGL\?HK?NKMA>K=BLO>GN>MAKHN@AHNKE:K@>LM=BLMKB;NMHK/.RGG>QHKIHK:MBHG:G=BML@EH;:E:??BEB:M>LER[/.RGG>Q\	
:<=?HK:G=H?HNKG>MK>O>GN>?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ER
$G@K:F(BLM=BLMKB;NMHK:<=?HK:G=H?NMH=>LDLMHM:EG>M
K>O>GN>?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ERNKBG@?BL<:EP>>GM>K>=BGMHMK:GLBMBHG
:@K>>F>GMLPBMA<>KM:BGH?HNK=BLMKB;NMHKLBGQ:G=$G@K:F(BMK:GLBMBHG=BLMKB;NMBHG:L
?HK:HG>
MH
MPH
R>:KI>KBH=PBMAIHM>GMB:E>QM>GLBHGL$GMK:GLBMBHG:@K>>F>GMLP>BGM>G=MHBG:L>HNK
L>EEBG@>??HKMLPBMAO:EN>
:==>=K>L>EE>KL:G=.HENMBHG+KHOB=>KLBGPMK:GL:EHGL>JN>GMER
P>;>EB>O>HNK;NLBG>LLBLGHMLN;LM:GMB:EER=>I>G=>GMHG/.RGG>QHK$G@K:F(BK=BLMKB;NMHKK>L>EE>KHK=BK>K:<=?HKHKFHK>H?HNKK>O>GN>
*NKK
K>E:M>=HI>K:MBHGL:K>=BOB=>=BGMHMAK>>@>H@K:IAB<K>@BHGLMA>F>KB<:L ( :G=+ :H@K:IAB<K>@BHGBLLNIIHKM>=;R@EH;:EF:KD>MBG@:G=L:E>LHK@:GBS:MBHGL/A>L>HK@:GBS:MBHGL=>O>EHI:G=F:G:@>HO>K:EE
F:KD>MBG@:G=L:E>LIKH@K:FL:G=PHKDERPBMA:G>MPHKDH?=HF>LMB<:G=BGM>KG:MBHG:EL:E>LH??B<>L2>;>EB>O>MA:M
BGM>KG:MBHG:EL:E>LPBEEMHMA>F:CHKBMRH?HNKMHM:EG>MK>O>GN>=O>KL>>GQK:M>LBGMA>LMA:M:LB@GB?B<:GMIHKMBHGH?HNKG>MK>O>GN>BGF>K@BG@>LF:R
A:O>:G:=O>KL>>??>LLBGMAHL>L:G=HNKHO>K:EE?BG:GK?HKF:G<>*NKBGM>KG:MBHG:EHI>K:MBHGL
:G=L:E>LLN;C>MRH?KBLDL.>>$M>F[-BLD!:K=BL:ELHPHKD=BK>L>EE>K=BLMKB;NMHK:G=.HENMBHG+KHOB=>KI:KMG>KHK@:GBS:MBHGLKF:GN?:KL
HMA>KLH?MP:K>=>O>EHI>KL:G=I>KBIA>K:ELF:GN?:KLBGK:MBO>:=O>KMBLBG@IKHFHMBHGL:G=MK:=>
LAHPIK>L>GM:MBHGL
2>>FIEHRF:LL
F:KD>MBG@M>LLN;<:LMLL>FBG:KLM>E>F:KD>MBG@=BK>KMBLBG@BG
;NLBG>LL:G=MK:=>CHNKG:EL:G=LH=B:2>A:O>:PHKE=PB=>NL>K@KHNIHK@:GBS:MBHG:G=P>A:O>:M>=HGEBG>NL>K
L=>=B<:M>=MHMA>>QH?BG?HKF:MBHGK>E:M>=MHMA>NL>H?HNKIKH=NKOB<>L
2>@>G>K:M>K>O>GN>IKBF:KBERMAKHN@AO:KBHNLH??>KBG@LMA:MIKHOB=>K>O>GN>0G=>KHNKLN;LKL<:GNL>HNKLH?MP:K>:GRMBF>:GRPA>K>:G=@>M:<<>LLMHMA>E:M>LMNI=:M>LMHIK>OBHNLO>KLBHGLMAKHN@AM>KF
;:L>=
IKH=NKOB<>H??>KBG@L:G=>GM>KIKBL>;NLBG>LL:@K>>F>GML[ \	#BLMHKB<:EERP>A:O>A:=
BG:L>= L:E>:K/ABLL>:LHG:EBMRF:RGHMA:O>:GBFF>=B:M>BFI:O>GN>:L
P>K>LN;LO>GN>HO>KMA>M>KFH?MA>:LHG:EBMRF:R:ELH:??>K>E:MBO>O:EN>H?HNK
;BEEBG@L->F:BGBG@+>K?HKF:G<>*;EB@:MBHGL[-+*\	:G=?HNKMA:G=?BKLM?BL<:EJN:KM>KL
-+,'%*&*+$$*+-(('*,
2>IKHOB=>M>KLMAKHN@A:FNEMB
MB>K>=LNIIHKMFH=>E:N@F>GM>=;R=BK>LB@G>=MH:==K>LL<>KM:BGLI>KG>>=L(HLMH?HNKKLK><>BO>LNIIHKM:G=MK:BGBG@?KHFMA>
K>L>EE>KL:G==BLMKB;NMHKL?KHFPABRINK=LN;LGL>L?HKHNKIKH=NKOB<>LPBMANMH=>LDBG
MNKGIKHOB=BG@L>KLNIIHKMMHMA>K>L>EE>KL:G==BLMKB;NMHKL*MA>KKL:K>LNIIHKM>==BK>E?
L>KOB<>NLBG@
MA>NMH=>LD&GHPE>=@>)>MPHKDPABLKLMH:GLP>KLBGHNKHGEBG>LNIIHKM:LL>MLLNIIHKM?HKNFLHK
P>;BG:KLHKMHLNIIHKMK>IK>L>GM:MBO>LNLBG@=B??>K>GMFH=:EBMB>LLN=B:IAHG>>F:BE:G=P>;:ELH
LNIIHKMHNKK>L>EE>KL:G==BLMKB;NMHKLMAKHN@AM>LMK:BGBG@LP>;BG:KL:G=HMA>KDGHPE>=@>
LA:KBG@IKH@K:FL
&.!*'&%&,$+'!$&'.*&&(*'*%+
9<-/@-@A@;01?7
NMH=>LDBL=MH:=O:GLNLM:BG:;E>K>LBEB>GM:G=>JNBM:;E>PHKE=2>=HG^M;>EB>O>BGP:BMBG@?HK
IKH@K>LLP>;>EB>O>BGF:DBG@BM2>M:D>:LLMHLNIIHKMHNK>FIEHR>>LKL:G=LBGHNK
HIIHKMNGBMRMH=>LB@G:G=F:D>:;>MM>KPHKE=?HK:EE


2>?H??HKMLMH:=O:G<>IHLBMBO>HNML:>IKBF:KR:K>:L>G>K@R:G=F:M>KB:ELA>:EMA:G=K>LBEB>G<>
:G=PHKD:G=IKHLI>KBMR/A>L>BFI::L:K>=>KBO>=?KHFMA>0).NLM:BG:;E>>O>EHIF>GM"H:EL[."L\	
:G=A:O>;>>GB=>GMB?B>=MAKHN@A:FNEMB
IKHG@>=IKH<>LLMH:EB@GMA>MHIG>>=LH?HNKLM:D>AHE=>KLMA>BLLN>LMA:M:K>FHLM
BFIHKM:GMMHHNK;NLBG>LL:G=MA>:K>:LP>:K>;>LMIE:<>=MH:<<>E>K:M>IHLBMBO>BFI:
/A>L>HIIHKMNGBMB>LIKBF:KBERF:GB?>LM:LHNMLMAKHN@AAHPHNKKLE>O>K:@>HNKM>LB@G:G=
F:D>G>M
S>KH<:K;HG;NBE=BG@LK>LBEB>GMBG?K:LMKNFHK>LNLM:BG:;E>IKH=N2>LNIIHKM:G=
:FIEB?RMA>L>HIIHKMNGBMB>LMAKHN@AIHP>KBG@HNK;NLBG>LLPBMAK>G>P:;E>>G>K@RG>NMK:EBSBG@@K>>GAHNL>@:L
>FBLLBHGL:LLH=PBMAHNKHI>K:MBHGL=>O>EHIBG@:GBG:G=LNIIHKMBG@LMN=>GML:G=>=N<:MHKLPBMAMHHEL:G=
MK:BGBG@MH>JNBIMA>G>QM@>G>K:MBHGH?BGGHO:MHKL2>:=O:G<>MA>L>HIIHKMNGBMB>LPBMABG=NLMKRBGGHO:MHKLMAKHN@A
KL:G=I:KMG>KL=>IEHRBG@IABE:GMAKHIB<<:IBM:EMHF:D>KL:G=IKHOB=BG@LH?MP:K>
=HG:MBHGL:G=MK:BGBG@MHHNKPB=>K>FNMH=>LD=MHM:K@>MH?:GGN:EHI>K:MBG@IKH?BM?HKMA>EHG@
M>KF
LNIIHKMH?HNKBFI:LHNKIABE:GMAKHIB<PHKD:G=HNKGML
0A/-@5;:
NMH=>LDBL=MHA>EIBG@LMN=>GML@:BGMA>BG
=>F:G=LDBEEL:G=<>KMB?B<:MBHGLG>>=>=MH=>FHGLMK:M>MA>R:K>
IK>I:K>=?HKGM:G=>F>K@BG@KHE>LBGMA>BG=NLMKB>LP>L>KO>2>H??>K?K>>>=N<:MBHG:EEB<>GL>LH?NMH=>LD^LM>
IHKM?HEBHH?IKH?>LLBHG:ELH?MP:K>MHO>KB?B>=LMN=>GML>=N<:MHKL:G=:<=BM>=>=N<:MBHG:EBGLMBMNMBHGLPHKE=PB=>
==BMBHG:EERP>H??>KL>E?
I:<>=FH=NE:KE>:KGBG@:G=GML:G=>=N<:MHKL*NK
BGM>GMBHGBLMHF:D>NMH=>LDLH?MP:K>MA>IK>?>KK>=?HKMAHL>IHBL>=MH;>MA>G>QM@>G>K:MBHGH?=>LB@G
>G@BG>>KBG@:G=LLBHG:EL
(A?@-5:-.585@E
859-@14-:31
$G:==K>LLBG@MA>@EH;:EG@>LIHL>=;RP>F:D>BMIHLLB;E>?HKHNKKLMHBGGHO:M>:G=
K>LIHG=MH:LLH=LBGK>@NE:MBHG;NBE=BG@IARLB<:EI:K:F>M>KL:G=HMA>K
K>E:M>=
=>O>EHIF>GML/ABL>??HKM<:G=BK>:M>FHK>=>F:G=?HK>QBLMBG@:G=G>PNMH=>LDIKH=NKOB<>L
BGMA>LAHKM:G=EHG@
M>KF!NKMA>KFHK>HNKE>:=>KLABIBL=MHM:DBG@:GM@H>LA:G=BG
A:G=PBMAHNKO:EN>L:G=K>INM:MBHGBGMA>F:KD>MIE:<>
859-@14-:31"-:-3191:@/@5;:?
/H=KBO>=IKH@K>LL:G=F>>M@KHPBG@=>F:G=P>MH>QI:G=MA>LHENMBHGL>=N<:MBHG:G=LNIIHKMP>
H??>KA>EIBG@KLL>:MBMBO>:=O:GM:@>?HK:EHP
<:K;HG?NMNK>;R=>LB@GBG@AB@A
I>K?HKF:G<>;NBE=BG@L
K>LBEB>GML:G=BG?K:LMKN:G=FHK>>??BGMMK:GLIHKM:MBHG:G=IKH=NMH@KHPMABLF:KD>MP>BGO>LMBG
HNKMHHELMHF>>MK^L=>F:G=:LP>EE:LIKHOB=>LH?MP:K>:G=LNIIHKMMH>:KER
LM:@>>GMK>IK>G>NKLGHGIKH?BM
HK@:GBS:MBHGL:G=LM:KM
NILPAH:K>=>LB@GBG@:GM>L2>:K>>QI:G=BG@MA>L>H??>KBG@L;:L>=NIHG
=>F:G=:G=HIIHKMNGBMRBGK>LIHGL>MHG@>LIHL>=;R
$GM>KG:EERP>:K>BGO>LMBG@BG;>LMIK:LMHFBMB@:M>HNK@K>>GAHNL>@:L>FBLLBHGL["#"L\	:G=KBLD
MAKHN@ABGO>LMF>GMLBGK>G>P:;E>>G>K@R>G>K@R>??BGKF:G:@>F>GM:G=K>KRLMK:M>@B>L*NK GM>KIKBL>
-BLD(:G:@>F>GMIKH<>LLK>=AHPBFI:GMB:EER:FIEB?RMA>HO>K:EELB@GB?B<:G<>H?>:GMB?B>=KBLD:G=HIIHKMNGBMR2>K>@NE:KER:LL>LLMA>>OHEOBG@BLLN>L:KHNG=:G=BG>JN:EBMR:G=K>LIHG=:<:KP>=>IEHR>=:G>PLNLM:BG:;BEBMR?BG:GPHKDMH:<<>E>K:M>G>P:G=>QBLMBG@>??HKMLBGMA>L>:K>:L
BGEB@B;E>IKHC>L


95??5;:?%1>2;>9-:/1$@41> 1E%1>2;>9-:/1:05/-@;>?
$G?BL<:ER>:KP>F:=>IKH@K>LLHGHNKLG<>
;:L>="#"K>=NMMHK>=N<>.:G=."#"L
:G=K>=N<>."#"LI>K=HEE:KH?@KHLLIKH?BM;R?BL<:ER>:K=MH?BL<:ER>:K==BMBHG:EER
BG?BL<:EP>P>K>K>LIHGLB;E>?HKF>MKB<MHGLH?<:K;HG=BHQB=>>JNBO:E>GM>FBLLBHGL:M
;:L>=
HI>K:MBHG:E;HNG=:KR/ABLK>IK>L>GML:K>=N=MHHNK?BL<:ER>:K;:L>EBG>$G:==BMBHGHNKK>LB=N:E
F>MKB<MHGLH?*>>FBLLBHGLP>K>G>NMK:EBS>=MAKHN@AMA>IKHF>GMH?AB@AJN:EBMR<:K;HGH??L>ML:G=K>FHO:EL
9<-/@'1<;>@?
(HK>BG?HKF:MBHG:;HNMHNKLNLM:BG:;BEBMR?BG:GGM<:G;>?HNG=BGHNK:GGN:E$FI:IHKMLPABA:O>IN;EBLA>=HGHNKP>;LBM>LBG<>*NK?BL<:E$FI:IHKMPBEE;>IN;EBLA>=BGMA>L>KH??BL<:E
$G?HKF:MBHG=HGHK:<<>LLB;E>MAKHN@AHNKP>;LBM>BLGHMI:KMH?HKBG=;RK>?>K>G<>BGMHMABLK>IHKM
%458-:@4>;NMH=>LD!HNG=:MBHGMA>[!HNG=:MBHG\	:IKBO:M>ER?NG=>=<		LM:;EBLA>=:G=LHE>ER
?NG=>=;RNLE>:=LHNKIABE:GMAKHIB<>??HKML/A>INKIHL>H?MA>!HNG=:MBHGBLMPH?HE=MHLNIIHKM>FIEHR>>LMH:M>:;>MM>K
PHKE=:MPHKD:MAHF>:G=BGMA>FIEHR>>L^OHENGM>>KMBF>:G==HG:MBHGLMHGHGIKH?BM
HK@:GBS:MBHGL:G=MHLNIIHKMHK@:GBS:MBHGLNLBG@=>LB@G:G=F:D>LHENMBHGLMH=KBO>IHLBMBO>LHGOBKHGF>GM:EBFI:E:MM>K<:L>P>NL>IABE:GMAKHIB<<:IBM:ELH?MP:K>=HG:MBHGL:G=MK:BGBG@MH:<E>FHLM
BFI:HK@:GBS:MBHGL:KHNG=MA>PHKE=PAH:K>BGGHO:MBG@MH:M>:;>MM>K?NMNK>?HKHNKIE:G>M*GHNK
;>A:E?MA>!HNG=:MBHG:ELH:=FBGBLM>KL:=BL=LH?MP:K>=HG:MBHGIKH@K:FMHGHGIKH?BMHK@:GBS:MBHGLLHGOBKHGF>GM:E>GMK>IK>G>NKL:G=HMA>KLPAH:K>=>O>EHIBG@=>LB@GLHENMBHGLMA:MPBEELA:I>:FHK>LNLM:BG:;E>?NMNK>
.$'(*(*'*%+
*NK;NLBG>LL:G=HNKKL;>G>?BM?KHFHNKK>E:MBHGLABILPBMA:G>QM>GLBO>=>O>EHI>KG>MPHKD/A>L>=>O>EHI>KL
:M>:G=L>EEMA>BKHPGBGM>KHI>K:;E>IKH=NK>GA:G<>MA>K:G@>H?BGM>@K:M>=LHENMBHGL:O:BE:;E>MHHNK
KL*G>H?HNKD>RLMK:M>@B>LBLMHF:BGM:BG:G+$;:L>=:KH?HNKLH?MP:K>IKH=NMABK=
I:KMR
=>O>EHIF>GMH?F>GM:KRIKH=NLHENMBHGL/ABL:IIKH:G:;E>LKL:G=MABK=
I:KMB>LMHLHENMBHGL?HK:PB=>O:KB>MRH?AB@AERLI>L2>H??>KL>O>K:EIKH@K:FLMA:MIKHOB=>LMK:M>@B<
BGO>LMF>GM?NG=BG@M>KLM>O>GMLMH=>O>EHI>KLPAH
=>O>EHI:==
HG:IIEB<:MBHGL?HKHNKIKH=NQ:FIE>P>A:O>>LM:;EBLA>=MA>NMH=>LD+E:M?HKF.>KOB<>LMHLNIIHKM
BGGHO:MHKLMA:M;NBE=LHENMBHGLMH?:MA>=>O>EHIF>GMH?:LBG@E>=>F?HKMA>?NMNK>H?AHPMABG@L:K>
=>LB@G>=F:=>:G=NL>=NMH=>LD+E:M?HKF.>KOB<>L?:LMA>=>O>EHIF>GMH?:LBG@E>=>F?HK
BGM>@K:MBG@NMH=>LD:IIEB<:MBHGLPBMAHMA>K>GM>KIKBL>P>;:G=FH;BE>LHENMBHGL
'%(,!,!'&
/A>F:KD>ML?HKHNKIKH=NAB@AERMBMBO>:K>LN;C>:G=<:GA:O>Q
BGM>K=>I>G=>GL;>MP>>GF:GRH?MA>E:K@>K;NLBG>LL>L2>LMKBO>MHBG:L>HNKMBMBO>L>I:K:MBHG;RBGO>LMBG@BG
K>L>:KO>EHIF>GM:EEHPBG@NLMH;KBG@G>PIKH=NM:G=:M>>QPO>KLBHGLH?>QBLMBG@IKH=NKEEBG@>??BGL?HKHNKKL2>:ELHM>MAKHN@ABGO>LMF>GMLBGF:KD>MBG@:G=L:E>LMHFHK>
>??>ERK>:PKL:G=;>MM>KL>KO>>QBLMBG@KL
*NKMBMHKLBGE:K@>@EH;:EIN;EB=LLF:EE@>H@K:IAB<:EER?H=?BKFLLM:KMNI?BKFL:G=
LHENMBHGLIKH=N<>=BG
AHNL>;RMA>BKNL>KL*NKIKBF:KR@EH;:EMBMHKLBG=H;>.RLM>FL$G=>GME>R
.RLM>FL$G<:LL:NEM.RLMTF>L.:G=BMLLN;LB=B:KR:LL:NEM.RLMTF>L.HEB=2HKDLHKI$GM>K@K:IAHKIHK:MBHG:
PAHEERHPG>=LN;LB=B:KRH?#>Q:@HG(..H?MP:K>HKIHK:MBHG)>F>MLD"*K:HKIHK:MBHG+KH
/>L$G<+/$G<.RLM>FLHKIHK:MBHG.B>F>GL+'(:G=/KBF;E>):OB@:MBHG'BFBM>=:FHG@HMA>KL
/A>LH?MP:K>BG=NLMKRA:LEBFBM>=;:KKB>KLMH>GMKR:G=MA>:O:BE:;BEBMRH?KPBMAQI:G=BG@
I>K?HKF:G<>:MIKH@K>LLBO>EREHP>KIKB<>LLMHMA>>:L>H?F:KD>M>GMKR/A>BG=NLMKRLMHNG=>K@H:IE:M?HKF
LAB?M?KHFMA>I>KLHG:EKMHKEHP>KL;:KKB>KLMH>GMKR:G=IHL>L:
=BLKNIMBO>G@>MH>LM:;EBLA>=LH?MP:K>L/A>=>LB@GLH?MP:K>F:KD>MBLKBS>=;ROB@HKHNLMBMBHGBG
>:O>KMB<:EF:KD>MLBGPABM>;HMA?KHF>QBLMBG@MBMHKL:G=;R>GMKRH?G>PMBMHKLPBMA
BGGHO:MBO>M>LHFI>MBMBHGBLBG:LBG@ER>GA:G<>=;RLPBMAF>GM:KRIKH=NL:G=MA>IHLLB;BEBMRMA:MMBMHKLBGHG>O>KMB<:EL>@F>GMF:R>GM>KHMA>KO>KMB<:EL>@F>GMLMA:MP>L>KO>$G
:==BMBHGLHF>H?HNKMBMHKLBG<>KM:BGF:KD>MLA:O>@K>:M>K?BG:GL:G=F:KD>MBG@:G=HMA>KK>LHNK<>L
MA:GP>=H><:NL>H?MA>L>:G=HMA>K?:MBMBO>L>BG=NLMKB>L:K>EBD>ERMHMHBGM>GLB?RBG
MA>?NMNK>$G:L>=MBMBHGLNEMBGIKB<>K>=N=N<>=G>MK>O>GN>:G=IKH?BMF:K@BGL:G=EHLLH?F:KD>M
LA:K>:GRH?PABLL.>>$M>F[-BLD!:K=BL@:K=BG@
MBMBHG
2>;>EB>O>MA:MHNK?NMNK>K>LNEML=>I>G=E:K@>ERNIHGHNK:;BEBMRMH;>MM>KL>KO>KL;RH??>KBG@G>PIKH=NMA>K;RBGM>KG:E=>O>EHIF>GMHK:MHIKHOB=>
>QBLMBG@IKH=NKBG@LMA:MM>?:OHK:;ERPBMAK>LI>:L>H?NL>K>EB:;BEBMRI>K?HKF:G<>K:G@>H?NL>?NE?>:MNK>L
GA:G<>F>GMLK>INM:MBHGIKB<>:G=MK:BGBG@
!&,$$,-$(*'(*,1&$!&++
2>F:BGM:BG:G:IKH@K:FMHE>@:EERIKHM>LMF>GMBGM>EE>KMRKB@AML2>
IKHM>EE>KMRMAKHN@A:GMF:KD:G=MK:=>L>MIKHM>GMB:EBMRIKH<>=NK>L:G=G:MNK>:G=>QM>GMH?E>@:EIKHM>=PBMA>:EE>KMRKB@AM=>I>G=LHG:FHG@HMA>KMABG@LMA>MRI>H?BGM>EE>KMRKB@AM:G=MA>@BO>GCNKBL=BL2>;>EB>O>MA:MHNKBGM>EE>KMRKB@AML:K>O:EN:;E>:G=BFIHKM:GMMHHNK;NLBG>LL
)HG>MA>E>LLHNKBGM>EE>KMRKB@AMLF:RGHM;>LN<<>LL?NEER:LL>KM>=BGMA>?NMNK>HKF:R;>BGO:EB=:M>=
GM>=HKG@>=$G:==BMBHGMA>E:PL:G=>G?HK<>F>GMH?MA>E:PLH?O:KBHNL?HK>B@GLPA>K>HNKIKH=N=BLMKB;NM>==HGHMIKHM>EE>KMRKB@AMLMHMA>L:F>>QM>GM:L0.E:PL G?HK<>F>GMH?BGM>EE>KMRKB@AML:@:BGLM:EE>@>=BG?KBG@>KL<:GLHF>MBF>LE>:=MHKM:KRBG?HKF:MBHGLL
!KHFMBF>MHMBF>P>K><>BO>@BG@BG?KBG@>F>GMH?:MABK=I:KMR^LBGM>EE>KMRKB@AMLBGGMLBLINM>LBGOHEOBG@HNKBGM>EE>KMRKB@AMLHKMAHL>H?:GHMA>KI:KMRA:O>BGMA>I:LM:G=F:RBGMA>?NMNK>E>:=
MH:FHG@HMA>KMABG@LGM=>E:RLPABLL
2>K>M:BGHPG>KLABIH?LH?MP:K>P>=>O>EHI*NK=AR;KB=H??>KBG@LBG;HMA=>LDMHILH?MP:K>:G=LDMHILH?MP:K>BLEB<>GL>=MHNL>KLINKLN:GMMH]=EB<>GL>:@K>>F>GMLLMKB:G=MK:GL?>KEHN=LH?MP:K>:G=:LLH=L>KOB<>L:K>IKHOB=>=MHNL>KLINKLN:GMMH
HGEBG>HKLB@G>=M>KFLH?L>KOB<>:@K>>F>GMLLMKBLL:G=NL>
2>;>EB>O>MA:M;><:NL>H?MA>EBFBM:MBHGLH?E:PLIKHM>EE>KMR:G=MA>K:IB=HG@HBG@
M>LBG;HMAMA>KA:K=P:K>:G=LH?MP:K>BG=NLMKB>LP>FNLMK>ERIKBG
>G@BG>>KBG@:G=F:KD>MBG@LDBEELMHGA:G<>HNKMBMBO>F:KD>MIHLBMBHG
2ABE>P>A:O>K>K>=LHF>K>O>GN>K>LNEMBG@?KHFMA>NG:NMAHKBS>=NL>H?HNKLH?MP:K>LHENMBHGLP>:K>NG:;E>MH
F>:LNK>MA>?NEE>QM>GMMHPAB=NL>H?HNKLH?MP:K>IKH=NQBLML2>;>EB>O>AHP>O>KMA:MNG:NMAHKBS>=NL>
H?HNKLH?MP:K>BL:G=<:G;>>QI>=MH;>:I>KLBLM>GMIKH;E>FMA:MG>@:MBO>ERBFI:O>GN>:G=?BG:GLNEML2>
;>EB>O>MA:MHNKMK:GLBMBHG?KHFI>KI>MN:ENL>LH?MP:K>EB<>GL>LMH:LN;L=;NLBG>LLFH=>E=PBMAMA>
?KHF=>LDMHIMH=BG<>GMBO>L:G=F>:GL;RPABBLNL>=PBMAHNM
:NMAHKBS:MBHG
$G:==BMBHGMAKHN@AO:KBHNLEB<>GLBG@:KK:G@>F>GMLP>K><>BO><>KM:BGKB@AMLMHBGM>EE>KMRH?HMA>KL2>>QI>GMEB<>GLBG@:KK:G@>F>GML:G=MHL>EB<>GLBG@:KK:G@>F>GMLBGMA>?NMNK>:LG>>=>=:G=MHMA>>QM>GM
:O:BE:;E>HGK>:LHG:;E>M>KFL:G===>O>EHIF>GM:G=L:E>LH?HNKIKH=NKOB<>L.HF>
H?MA>L>EB<>GLBG@:KK:G@>F>GMLK>JNBK>HKF:RK>JNBK>KHR:EMRI:RF>GML:G=HMA>KEB<>GLBG@?>>L/A>:FHNGMH?MA>L>
I:RF>GML:G=?>>LF:R=>I>G=HGO:KBHNL?:=MHMA>LMKNH?KHR:EMRI:RF>GMLH??L>MMBG@
K:MBHGLB?:GR:G=MA>=>@K>>H?NL>H?MA>EB<>GL>=M>>$M>F[-BLD!:K=BLE:M>=MHIKHM>EE>KMR


(*'-,!'&&+-(($!*+
/A>IKH=NIKH=NKOB<>LBGOHEO>L=NIEB<:MBHGHKAHLMBG@H?LH?MP:K>F>=B:/A>P:RMA:MP>
=>EBO>KLH?MP:K>A:L>OHEO>==NKBG@HNK;NLBG>LLFH=>EMK:GLBMBHG!HK<>KM:BG=IKH=NNL>:=AHLMBG@?:L:G=BG:LBG@ERF:SHG2>;.>KOB<>L:G=MH:E>LL>K=>@K>>HMA>KBG?K:LMKN
:L
:
L>KOB<>
IKHOB=>KL2>H??>KKL:G>E>=HPGEH:=HIMBHG?HK;HMABGBMB:EIKH=NGM:G=LN;L>JN>GM
IKH=NLNLMHF>KLPAH>E>GMK><>BO>MA>E:M>LMO>KLBHGH?MA>LH?MP:K>?KHFHNKO>G=HK^L
L>L>KO>KLNLMHF>KLF:R:ELHH;M:BGHNKLH?MP:K>MAKHN@AF>=B:LNL:O:BE:;E>?KHF
FNEMBIE>LHNK<>L
,$&,& -%&(!,$%&%&,
*NK>FIEHR>>LIE:R:<>GMK:EKHE>BGMA>LN<<>LLH?HNKEHG@
M>KFLMK:M>@RNMH=>LD^LNEMNK>H=>=>?BG>LO:EN>L:G=
;>A:OBHKLMA:MLNIIHKMHNKGMMH;>BG@:KK>>:FIEHR>>M:D>LK>LIHGLB;BEBMR?HK
NG=>KLM:G=BG@HNKKL^G>>=L>QI>QI>KB>G<>LLH?%:GN:KRP>>FIEHR>=:IIKHQBF:M>ER
I>HIE>:GBG:L>?KHF:IIKHQBF:M>ER>FIEHR>>L:LH?MA>>G=H??BL<:ER>:K)HG>H?HNK>FIEHR>>LBG
MA>0GBM>=.M:M>L:K>K>IK>L>GM>=;R:E:;HKNGBHG$G<>KM:BG?HK>B@GLHNK>FIEHR>>L:K>K>IK>L>GM>=;RMK:=>NGBHGL
HKPHKDLA:O>G>O>K>QI>KB>G<>=:GRPHKDLMHII:@>L:G=;>EB>O>HNK>FIEHR>>K>E:MBHGL:K>LMKHG@->EB:G<>
NIHG>FIEHR>>LBGHMA>KL>GM:BELO:KBHNLKBLDL:G=LBGMA>L>?HK>B@GLLNKGF>GMBGLM:;BEBMRHK
K>@NE:MBHGNG?:OHK:;E>MH?HK>B@G
HPG>=;NLBG>LL>LPAB@:MBO>ERBFI:LLBGMA>?NMNK>
5B1>?5@E-:018;:35:3
NMH=>LDBL=MH;NBE=BG@:G=F:BGM:BGBG@:=BO>KL>PHKD?HK<>:G=:H?;>EHG@BG@PA>K>:EE>FIEHR>>L
A:O>>JNBM:;E>HIIHKMNGBMB>LMHLN<<>>=:G=2>A:O>=>O>EHI>=:G=>F;>==>=:AHEBLMB<@EH;:EBO>KLBMR:G=
>EHG@BG@[\	LMK:M>@RBGMH:EEMA:MP>=H*NKLMK:M>@RBGL:O:KB>MRH?:LLNE>:=>KLABI
MK:BGBG@?HK:EEI>HIE>F:G:@>KL:G=L>GBHK>FIEHR>>L:G=ABKBG@F:G:@>K:G=BGM>KOB>PLMA:MBGMK:BGBG@HG
FBMB@:MBG@;B:L:G=BGIK:L
/HA>EINL;NBE=:FHK>=BO>KL>PHKD?HK<>P>A:O>=MHBGO>LMBGHNK=BO>KLBMRI:KMG>KLABIL2>I:KMG>KPBMA
>=N<:MBHG:EBGLMBMNMBHGLLNKOBG@$GLMBMNMBHGL:G=#BLMHKB<:EERE:@>L:G=0GBO>KLBMB>L:G=IKH?>LLBHG:E
HK@:GBS:MBHGL:KHNG=MA>@EH;>LNIIHKMBG@NG=>KK>IK>L>GM>=@KHNILBGM>IKHOB=>:O:KB>MRH?LKGLABIIKH@K:FLLIHGLHKLABI:@K>>F>GMLF>GMHKBG@:G==>O>EHIF>GMI:KMG>KLABIL:G=IKH@K:FLNIIHKMMHHK@:GBS:MBHGL
?H=HGPHF>G:G=NG=>KK>IK>L>GM>=@KHNIL
2>IKHOB=>HG@HBG@=>O>EHIF>GMHIIHKMNGBMB>LLNNMH=>LD(>GMHKLABI+KH@K:FPABLHG>
HG
HG>
F>GMHKLABIK>E:MBHGLABILNMH=>LDA:LGBG>>FIEHR>>K>LHNK<>@KHNIL[ -"L\	PABOHENGM>>K
E>=@KHNILMA:M;KBG@
>FIEHR>>LMH@>MA>K;:L>=HGK>LML;:KLBMRKBLMBK:L>GL>H?;>EHG@BG@:G=
L:G=F>MKB?HNG=HGHNKP>;LBM>:MAMMIL
PPP:NMH=>LDKLBMR
:G=
BG=HGHK:<<>LLB;E>MAKHN@AHNKP>;LBM>BLGHMI:KMH?
HKBG=;RK>?>K>G<>BGMHMABLK>IHKM
%>;21??5;:-81B18;<91:@-:09<8;E119<-/@
2>;>EB>O><:K>>K=>O>EHIF>GMIE:RL:GBFIHKM:GMKHE>BGD>>IBG@HNK>FIEHR>>L>G@:@>=:G=BGIKHOB=BG@:==BMBHG:E
HIIHKMNGBMB>L?HKMA>FMH@KHP:G=;NBE=MA>BK<:K>>KLNMH=>LDH??>KL>QM>GLBO>IKH?>LLBHG:E:G=M>O>EHIF>GM
HIIHKMNGBMB>L?HKHNK>FIEHR>>L/A>L>BGL>E?
L>KOB<>HGEBG>FH=NE>L:G=I>KLHG:EBS>=E>:KGBG@I:MALIKH?>LLBHG:E:G=
F:G:@>F>GM=>O>EHIF>GMIKH@K:FL:G=:MNBMBHGK>BF;NKL>F>GMIKH@K:F
2>:ELH>GHNK>FIEHR>>LMH:=O:G<>HNKOBLBHG?HK:;>MM>KPHKE=:G=LNIIHKMMA>BKIKH?>LLBHG:E=>O>EHIF>GM;R
I:KMBMHOHENGM>>K:G=A:O>MA>BK@BOBG@F:M=;RMA>
NMH=>LD!HNG=:MBHG
);@-8'1C->0?
/H:MMK:M:BG:G=LNIIHKMHNK>FIEHR>>LP>H??>KMBMBO>GL:MBHG:G=;>G>?BMLIKH@K:FLL>O>K:EH?
PAB:G>E>F>GMH?MHF>>MMA>G>>=LH?HNK=BO>KL>:G=@EH;:EIHINE:MBHG$G:==BMBHGMHMBMBO>;:L>I:R


:G=HIIHKMNGBMB>LMHK><>BO>LAHKM
M>KFBG<>GMBO>L:EEHNK>FIEHR>>L:K>>EB@B;E>MHI:KMBBGHNKEHG@
M>KFIE:GL2>:ELH
A:O>A>GLBO>A>:EMA:G=P>EEG>LL;>G>?BML:@>G>KHNLMBF>H??IKH@K:F:G>FIEHR>>LMHIE:GL:;;:MB<:EL
K>MBK>F>GMIE:GL?BG:G=N<:MBHG:G=:G>FIEHR>>:LLBLM:G<>IKH@K:F
)-!+!,!'&+
2>:=G>PM>F>GM>=HNK>QBLMBG@M>LL>LHKM>E:M>=
:LL>ML?H=BGLI>MLHKBG=NLMKB>L!HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=P>:=
L:<=?HK:L;NLBG>LL:K>GHMBG=BOB=N:EER
LB@GB?B<:GM/A>?HEEHPBG@P>K>LB@GB?B<:GM::K
6I:D;8ADH>C<
DBE6CN
:I6>AH
(:R
0ILDBGM>@K:M>=0I=LDLHENMBHGLMH
<>GMK:EBS>=:M:F:G:@>F>GM:G=IKH<>LLF:G:@>F>GM
(:K=MA>I:K>GMH?
$GGHORS>$G<
[$GGHORS>\	
$GGHORS>IKHOB=>=A>GLBO>P:M>KFH=>EBG@LHENMBHGLMA:M:N@F>GMNMH=>LD^L
$(H??>KBG@LBGG@BG>>KBG@:G=>QM>G=>=NMH=>LD^LIK>L>G<>BGMHHI>K:MBHGL
:G=F:BGM>G:G<>H?P:M>KBG?K:LMKN:LL>ML
2>:M>E:M>=:LL>MLMA:M:K>F>GM:KRMHHKHMA>KPBL>>GA:G<>HNK>QBLMBG@M>L2>:ELH
F:D>BGO>LMF>GMLBGIKBO:M>ERA>E=LMA:M=>O>EHIM>F>GM:KRMHHKIKHOB=>LMK:M>@B<O:EN>:G=
>QI:G=HIIHKMNGBMB>L?HKHNKM>L
*-$,!'&
2>:K>LN;C>@NE:MBHGLI:KMBBGOHEOBG@IKBO:QIHKM>$M>F[-BLD
!:E:MBG@MH':PL:G=->@NE:MBHGL\?HK?NKMA>K=BLO>GN>IENLMA>G>MBG=>?>KK>=K>O>GN>?KHFMA>;>@BGGBG@MHMA>>G=H?MA>I>KBH=
8;A0(1>B5/1$221>5:3?->IK>L>GMLBG=BOB=N:EM>KF
;:L>=H??>KBG@L=>IEHR>=MAKHN@AP>;;KHPL>KM>LHKBG:AR;KB=
LH?MP:K>:G=KOB<>H??>KBG@LMA:M:K>;NG=E>=PBMAHMA>KIKH=NKBG@L:K>GHM<:IMNK>=:L:
L>I:K:M>KOB<>H??>KBG@
;:?@-:@A>>1:/E>;C@4'-@1?2>:MM>FIMMHK>IK>L>GMMA>LBGMA>NG=>KERBG@;NLBG>LLHI>K:MBHGL;R
>EBFBG:MBG@?EN=;RLBG?HK>B@GGQK:M>L:LP>EE:L>EBFBG:MBG@A>=@>@:BGLHKEHLL>L
K>=PBMABGMA>GM:G=I>KBH=L2><:EGL;RB	:IIERBG@MA>:IIEB<:;E>
IKBHKI>KBH=>QK:M>LMHGMI>KBH=K>LNEML:G=BB	>QL?KHF?HK>B@GG=@>
K>IHKM>=BGMA>GM:G=I>KBH=L
1?53:A?5:1??->IK>L>GMLMA>G:G<>IKH=N;NM
:K>GHMEBFBM>=MHNMHNMH'/$G=NLMKRHEE>OBM$GO>GMHK(:R::G==L(:Q>KM:BGIKH=NK:B=>=F:GN?:;HMA>LB@G:G=(:D>?NG=:L>LB@G
:@1><>5?1A?5:1??3>1191:@??->IK>L>GMLIKH@K:FLIKHOB=BG@>GM>KIKBL>KLPBMAMHD>G
;:L>=:<<>LLMH:
;KH:=IHHEH?NMH=>LDIKH=NK:=>?BG>=KF
81DI:R
:L
RHN
@H
INKMHD>GLMH:<<>LL:GRIKH=NPBMA!E>Q?HK:=:BERK:M>
>11-?48;C:LA?EHP?KHFHI>K:MBG@:LFBGNL<:IBM:E>QI>G=BMNK>L
:0A?@>E;881/@5;:?NMH=>LD$G=NLMKRHEE>:KOB<>LMA:MM:K@>M:LI>K
H;C>:G=LNIIHKM:L>MH?PHKD?EHPL?HKMA:MH;C>*NK$G=NLMKRHEE>LDK
 G@BG>>KBG@:G=HGLMKNLD+KH=NLB@G:G=(:GN?:LD(>=B::G=
 GM>KM:BGF>GMHEE>G:G<>IE:GLIKHOB=>HNKKLPBMA:??>:G=IK>=B;N=@>M:KRHIMBHGMH
H;M:BGMA>IKH=NG>?BMLH?HNKG>PK>E>:L>L:G=>GA:G<>F>GMLPA>G:G=B?K>E>:L>==NKBG@MA>M>KFH?MA>BKKHNKF:BGM>G:G<>IE:GLKL:K>>EB@B;E>MHK><>BO>NGLI>=NI@K:=>LPA>G:G=B?:O:BE:;E>:G=M>K>F:BGM>G:G<>K>O>GN>HO>KMA>M>KFH?MA>:@K>>F>GML@>G>K:EERHG>R>:K
"-71A?5:1??->IK>L>GML<>KM:BG=IKH=N;NM:K>GHMEBFBM>=MHLL>F;E>
NMH=>LDNBE=$(HEE:;HK:M>+KHNBE=BG@HGG>=!NLBHG:G=!EHP+KH=NKM:BGIKH=N;HMA>LB@G:G=(:D>?NG=:L(:D>
#1@'1B1:A1'1@1:@5;:'-@1#'
(>:LNK>LMA>R>:K
HO>K
R>:KBG->O>GN>?HKMA>IHINE:MBHGH?KL
MA:M>QBLM>=HG>R>:K:@H[;:L>KL\	)>MK>O>GN>K>M>GMBHGK:M>BL<:E=;R=BOB=BG@MA>GMJN:KM>K->O>GN>K>E:M>=MH;:L>KL;RMA>MHM:ELIHG=BG@JN:KM>K->O>GN>?KHFHG>R>:K:@H->O>GN>BL;:L>=HG0.K>IHKM>=K>O>GN>:G=?EN=;RLBG?HK>B@GGQK:M>L:G=A>=@>
@:BGLHKEHLL>LA:O>GHM;>>G>EBFBG:M>=->O>GN>K>E:M>=MH:=LHG>R>:K:?M>K:>G
<:IMNK>=:L>QBLMBG@KLNGMBELN<:EMAH=HEH@R/ABLF:R<:NL>O:KB:;BEBMRBGMA>
'1B1:A1HGLBLMLH?K>O>GN>?KHFKIKH=NKOB<>L:G=BLK>=:LMA>IKH=N
=>EBO>K>=:G=L>KOB<>L:K>I>K?HKF>=
%>;0A/@(A.?/>5<@5;:+KHOB=>LKL:?E>QB;E>??>P:RMH:<<>LL:G=F:G:@>=>LB@G>G@BG>>KBG@:G=
>GM>KM:BGF>GMLH?MP:K>MHHEL*NKIKH=NGMERK>IK>L>GM:AR;KB=H?=>LDMHI:G=L:=>OB<>
BG=>I>G=>GM=>LB@GPHKD?EHP?HK=>LB@G>KL:G=MA>BKLM:D>AHE=>KL
'1/A>>5:3'1B1:A1HGLBLMLH?MA>K>O>GN>?HKMA>I>KBH=?KHFHNKMK:=BMBHG:EF:BGM>G:G<>IE:GLHNKLN;LKBG@L:G=<>KM:BG*MA>KK>O>GN>$M>QLLN;LO>GN>K>E:M>=MHMABK=
I:KMRIKH=NO>GN>
:=PBMAMA>:LLBL<:IMNK>=PA>GMHM:ELN;L<:IMNK>=BGHNKLRLM>FL:G=F:R<:NL>
O:KB:;BEBMRBGMA>2;>9-:/1$.853-@5;:?'%$/A>LNFH?MHM:ELAHKM
M>KFEHG@
M>KF:G=NG;BEE>==>?>KK>=K>O>GN>NKK>GM
K>F:BGBG@I>K?HKF:G<>H;EB@:MBHGLBLMA>:FHNGMH?K>O>GN>P>>QI>BGMA>G>QMMP>EO>FHGMAL
(;8A@5;:%>;B501>.HENMBHG+KHOB=>KBLMA>G:F>H?HNKEI:KMG>KLPAHIKBF:KBERL>KO>HNKG>PMK:GL:E
KLPHKE=PB=>.HENMBHG+KHOB=>KLF:R:ELH;>K>L>EE>KLBGK>E:MBHGMHNMH=>LDLHENMBHGL
(<1:0/A>LNFH?O>GN>:G=HI>K:MBG@>QI>GL>L
(A.?/>5<@5;:%8-:HFIKBL>LHNKM>KF
;:L>=IKH=NKOB<>H??>KBG@L:G= L.N;LIK>L>GM
:=AR;KB=H??>KBG@H?=>LDMHILH?MP:K>:G=L:=>OB<>
BG=>I>G=>GM
=>LB@GPHKD?EHP?HK=>LB@G>KL:G=MA>BKLM:D>AHE=>KL2BMALN;LKL<:GNL>HNKLH?MP:K>:GRMBF>:GRPA>K>
:G=@>M:<<>LLMHMA>E:M>LMNI=:M>LMHIK>OBHNLO>KLBHGL
(A.?/>5<@5;:'1B1:A1$GLHNKG:;E>=M>KF
;:L>=IKH=NKOB<>H??>KBG@L:G=?E>QB;E>
 L
*:.58810121>>10'1B1:A10G;BEE>==>?>KK>=K>O>GN>K>IK>L>GML=HK=HK=>KLNG=>K>:KERK>G>P:E
:G=FNEMB
R>:K;BEEBG@IE:GL?HKLN;LKOB<>L:G=F:BGM>G:G<>?HKPAB:LLH==>?>KK>=K>O>GN>A:LGHM;>>G
K>=0G=>K!.<==>?>KK>=K>O>GN>BLGHMBG=:L:
K><>BO:;E>HK=>?>KK>=K>O>GN>HGHNKHGLHEB=:M>=:E:G<>.A>>M


!,%

*!+#,'*+

2>HI>K:M>BG:K:IB=ERGOBKHGF>GMMA:MBGOHEO>LLB@GB?B<:GMKBLDL:GNF;>KH?PAB;>RHG=HNKHMA>KBG?HKF:MBHG=BGMABLGGN:E->IHKMHG!HKF
&MA>?HEEHPBG@=BLH?
MA>L>KBLDL:G=MA>IHLLB;E>BFI:L>?:LL?BG:GK>LNEMLH?HI>K:MBHGL$?:GR
H?MA>?HEEHPBG@KBLDL:LL?BG:GLNEMLH?HI>K:MBHGLF:R;>:=O>KL>ERBFI:=
<:NLBG@MA>MK:=BG@IKB<>H?HNK$G:==BMBHGMA>L>KBLDL:G=NG<>KM:BGMB>LF:RBFI:?HKP:K=
EHHDBG@LM:M>F>GML=>L=>EL>PA>K>BGMABLGGN:E->IHKMHG!HKF
&:G=BGMA>=HGMLBG=A>K>BG;R
K>?>K>G<>/A>RLNEMLH?HI>K:MBHGL<:NLBG@MA>FMH=B??>KF:M>KB:EER?KHFMAHL>>QIK>LL>=BG?HKP:K=
EHHDBG@LM:M>F>GML
(A99->E;2'5?7-/@;>?
*NK;NLBG>LLBLLN;C>KHNLKBLDL:G=NG<>KM:BGMB>LMA:MRHNLAHNE=K;>?HK>BGO>LMBG@BGHNKL>L/A>L>
KBLDL:K>=>L=FHK>?NEER;>EHP:G=BG;NM:K>GHMEBFBM>=MHKBLDLK>E:MBG@MHMA>?HEEHPBG@

*NKLMK:M>@RMH=>O>EHI:G=BGMKH=N<>G>PIKH=NKOB<>L>QIHLBG@NLMHKBLDLLN=K
:<<>IM:G<>;HMAPBMAG>P:G=>QBLMBG@KL	E:M>=MHIKH=N?>>QI>G=BMNK>L

"EH;:E>G@>L:LLH=PBMALMK:M>@B<:LMF>GML

>I>G=>GKG:MBHG:EK>O>GN>:G=HI>K:MBHGL>QIHLBG@NLMHLB@GB?B<:GMBGM>KG:MBHG:EK>@NE:MHKR>EE>KMRGQK:M>M:Q:MBHGIHEBMB<:E:G=HMA>KKBLDL

$G:;BEBMRMHIK>=BG>P:EK:M>L:G=MA>BKBFI:K>O>GN>:G=HI>K:MBG@K>LNEML

 QBLMBG@:G=BG:L>=MBMBHG:G=K:IB=ER>OHEOBG@M>L

!ENLNEMLD>RF>MKBKHI>K:MBG@F>MKBKBOBG@:LN;LM:GMB:EIHKMBHGH?HNKG>MK>O>GN>?KHF:LF:EEGNF;>KH?LHENMBHGLBG=
LH?MP:K>IKH=NMHLN<<>LL?NEER>Q>:G=F:G:@>BGBMB:MBO>LMHK>:EB@GHKBGMKH=N<>G>P;NLBG>LL:G=L:E>LBGBMB:MBO>L

)>MK>O>GN>;BEEBG@L>:KGBG@L<:LA?EHPHKLN;LF:KD>M<:NLBG@MA>F:KD>M
IKB<>H?HNKLMH
X
A:EE>G@>LK>E:MBG@MHMA>IKHI>KF:G:@>F>GM:G=@HO>KG:G<>H?HNKNL>H?$BGHNKH??>KBG@L

.>GMLBGM>@KBMRH?HNKHKHNKKL^H??>KBG@LL>KOB<>L=:M:HKBGM>EE>KMR

->EB:G<>HGMABK=I:KMB>LMHIKHOB=>NLPBMA:GNF;>KH?HI>K:MBHG:E:G=M>KOB<>L:LP>EE:LLH?MP:K>

*NKAB@AERQLH?MP:K>PABM>=>KKHKL=>?>K:;BEBMB>L:G=BLLN;C>KOB<>
=BLKNIMBHGL=>@K:=:MBHGLHNM:@>LHKHMA>KI>K?HKF:G<>IKH;E>FL
X
$G:LBG@K>@NE:MHKR?HL:G=>QI:G=BG@E:PL

"HO>KGF>GM:E>QIHKM:G=BFIHKMM>BGBGM>KG:MBHG:EF:KD>MLHKLN;C>OBHE:M>MA>EE>KMRKB@AML:G=BGM>EE>KMRBG?KBG@>F>GMKL

/A>@HO>KGF>GMIKHF>GMIKH<>LL

!ENGQK:M>L

*NK=>;ML>KOB<>H;EB@:MBHGL

*NKBGO>LMF>GMIHKM?HEBHMRH?BGO>LMF>GMO>ABLMA:M:K>LN;C>K>LMK:M>MK>G=LF:KD>M
OHE:MBEBMR:G=HMA>K>A?5:1??-:0(@>-@13E
$A>?@>-@13E@;01B18;<-:05:@>;0A/1:1C<>;0A/@?-:0?1>B5/1?1D<;?1?A?@;>5?7??A/4-?8595@10/A?@;91>-//1<@-:/1.;@4
C5@4:1C-:01D5?@5:3/A?@;91>?/;?@?>18-@10@;<>;0A/@0121/@?-:08->311D<1:05@A>1?1-/4;2C45/49-E>1?A8@5::;
-005@5;:-8:1@>1B1:A1;>01/>1-?10:1@>1B1:A1


/A>LH?MP:K>BG=NLMKRBLKBS>=;RK:IB=M>L:LP>EE:LLBGKK>JNBK>F>GML:G=
IK>?>K>G<>L$GK><>GMR>:KLMA>BG=NLMKRA:LNG=>K@HG>:MK:GLBMBHG?KHF=>O>EHIBG@:G=L>EEBG@I>KI>MN:EEB<>GL>L:G=HG
IK>FBL>LIKH=NG:;E>=M>LHMAG>P:G=>QBLMBG@KL:K>:ELHK>KBG@
AHPMA>RINKLH?MP:K>IKH=NJNBK>LNLMHO:EN:M>HNK;NLBG>LLFH=>E:G=LMK:M>@R$GK>LIHGL>P>
:K>?H=HGIKHOB=BG@LHENMBHGLMH>G:;E>HNKKLMH;>FHK>:@BE>:G=HGMA>BKIKHC>=>OHM>
LB@GB?B<:GMK>LHNK<>LMHMA>=>O>EHIF>GMH?G>PM>L$?P>:K>NG:;E>MHIKHOB=>G>P?>:MNK>L>GA:G<>F>GMLMHNL>K
>QI>KB>G<>:G=FH=B?B<:MBHGLBG:MBF>ER:G=??>F:GG>KMA:M:O>F:KD>M:<<>IM:G<>:EB@GPBMAK
>QI>>II:<>PBMAK:IB=M>O>EHIF>GML:G=@NE:MHKRE:G=L<:I>LHNK;NLBG>LL:G=
HI>K:MBG@K>LNEML:=O>KL>ER:??>=!HK>Q:FIE>$:G=F:E>:KGBG@:K>IKHI>EEBG@:=O:G<>F>GMLBG
M>R:K>GHMPB=>ER:=HIM>=:G=:<<>IM>=HK?:BEMHHI>K:M>:L>QI>=HNK;NLBG>LL:G=K>INM:MBHGF:R;>
A:KF>=
$G:==BMBHGP>?K>JN>GMERBGMKH=N<>G>P;NLBG>LLFH=>ELHKF>MAH=LMA:MK>JNBK>:K:;E>BGO>LMF>GMH?M>LHNK<>LLNQB;E>LN;LKOB<>H??>KBG@L:G=HNKMK:GLBMBHGH?FNEMB
LN;L=
NL>KIE:GL$MBLNG<>KM:BGPA>MA>KMA>L>LMK:M>@B>LBGLPBEE
:<ERK>?E>K=>F:G=HK;>LN<<>LL?NEHKPA>MA>KP>PBEE;>:;E>MH=>O>EHIMA>G><>LL:KRBG?K:LMKN:G=
;NLBG>LLFH=>ELFHK>JNBMBMHKL2>F:D>LNLMF>GMLMAKHN@A?NKMA>K=>O>EHIF>GM:G=>GA:G<>F>GM
H?HNK>QBLMBG@IKH=NKOB<>L:LP>EE:LMAKHN@A:LMF>GMLF:RGHMK>LNEMBGLN??BGMK>O>GN>
@>G>K:MBHGMHCNLMB?RMA>BKLNEMBG=>:L>=G>MK>O>GN>HKIKH?BM:;BEBMR$?P>:K>GHM:;E>MHF>>MK
K>JNBK>F>GML>BMA>KPBMAK>LI>PKLHK>QBLMBG@KL:G=>BMA>KPBMAK>LI>HKMA>F:GG>K
BGPABIKHOB=>LN:K>GHM:;E>MH:=:IMHNK;NLBG>LLFH=>EMHF>>MHNKKL^K>JNBK>F>GMLHNK
;NLBG>LL?BG:GLNEMLH?HI>K:MBHGLF:R;>:=O>KL>ERBFI:=
$GI:KMBGMH?HNK@KHPMALMK:M>@RBLMHA:O>KLH?HNKNMH:G=NMH'/
IKH=NEE:LHMA>KBG=BOB=N:ENMH=>LDIKH=NQI:G=MA>BKIHKM?HEBHLMHBGHNKHMA>KH??>KBG@L:G==
?NG:K>M:DBG@LM>ILMH:<<>E>K:M>MABLFB@K:MBHGMMBF>LL:E>LH?HNKNMH:G=NMH'/HK
BG=BOB=N:ENMH=>LD?E:@LABIIKH=N=>:L>=PBMAHNM:LIHG=BG@BG:L>BG$G=NLMKRHEE>=
?NGO>GN>HKPBMAHNMINKLH?KL>:MLMHHNK$G=NLMKRHEE>HNKK>LNEMLH?
HI>K:MBHGLPBEE;>:=O>KL>ER:??>=
*NK>Q>F:G:@>F>GMM>:FFNLMGMA>K:IB=ERK
>QI>F>GMLBGA>K>GMBGMA>LH?MP:K>BG=NLMKRMA>>QM>GLBO>:G=Q>??HKMLK>JNBK>=MH
:M>NL>?NE:G=PB=>ER:<<>IM>=IKH=NK:IB=>OHENMBHGH?=>OB<>LG>PKM>LLNKIKH=NA:O>:KMB=:LMK:M>@RMA:MP>;>EB>O>PBEE
?NE?BEEMA>L>G@>LB?P>?:BEMH>Q>IKHI>KERHGMA:MLMK:M>@RHK:=:IMMA>LMK:M>@R:LF:KD>MOHEO>P>F:R
?:BEMHF>>MHNKKL^>QI>NG:;E>MHM>PBMAHNKMBMHKLIKH=NMA>
G<>H?HNKEI:KMG>KL:G=>FIEHR>>L/ABLBGMNKGKL>ER:??>LL:G=?BG:GK?HKF:G<>
8;.-81/;:;95/-:0<;85@5/-8/;:05@5;:?9-E2A>@41>59<-/@;A>5:0A?@>51?.A?5:1??-:025:-:/5-8>1?A8@?
*NKHO>K:EEI>K?HKF:G<>=>I>G=LE:K@>ERNIHG=HF>LMB<:G=PHKE=PB=>>0GBM>=
.M:M>L:G=HMA>KL^>LA:O>>QI>KB>G<>==;R
?:EEBG@=>F:G=?HK:O:KB>MRH?@HH=L:G=L>KOB<>LK>LMKB==BMIHHKEBJNB=BMR=>:L>=@HO>KGF>GMLI>G=BG@K>=N<>=
IKH?BM:;BEBMROHE:MBEBMRBG=BM>JNBMR:G=?HK>B@G>QF:KD>MLBG?E:MBHG:KRIK>LLNK>L:G=AB@A>KBGM>K>LMK:M>L
;:GDKNIML:G=HO>K:EENG<>KM:BGMR/A>L>>Q:FIE>GM@>HIHEBMB<:E:G=
@EH;:EF:G@>LA:O><:NL>=NG<>KM:BGMRBGMA>@EH;:E><>LLBHGBG
MA>0GBM>=.M:M>LHKBGHMA>KLF:RH<:=RH<=:G=F:R/A>>QM>GMMHPABL>
G@>LPBEEBFI:LNEMLH?HI>K:MBHGLBLLMBEENG<>KM:BG:G=PBEEMH=>I>G=HG
=>O>EHIF>GMLLNBFI:L>G@>LHGHNKKLO>G=HKL=BLMKB;NMHKL:G=K>L>EE>KLLNLNIIER
LNEMBG@BG?E:MBHG:KRIK>LLNK>L:G=@EH;:EE:;HKLAHKM:@>MA:MP>A:O>L>>GK><>GMERF:M>KB:EL<:KEE:LHMA>K?:G;R@HO>KGF>GML;NLBG>LL>L:G=KLBGK>LIHGL>MHMA>L>G@>LLI>>=:G=
MBFBG@H?>KRBGH@K:IAB>LHNK;BEEBG@L:G=K>G>P:EK:M>LBGP;NLBG>LL
K:M>LK:M>H?FNEMB
R>:KH?KMK:GL:PNGBMOHENF>@KHPMAP:KL:G=:KF>=HG@HBG@P:KL;>MP>>GMA>0DK:BG>:G=-NLLB::G=;>MP>>G$LK:>E:G=#:F:L?HK>B@G>QK:M>?EN>??>L>G@>LHGF:K@BGL:G=<:LA?EHPEEH?MA>L>?:MH>OHEO>:G=K>F:BGNG<>KM:BG:MMABL
MBF>:G=LHF>H?MA>L>?:GHMPBMABGHNKLPA>K>P>=H;NLBG>LLLEHPLHKB?
LNL>QI>KB>G<>?NKMA>K><>LLBHGLKLF:R=>E:RHKK>=N<>M>LPABA:O>
L>>GK><>GMERBG<>KM:BGLBGKLBG@HO>KGF>GM>GMBMB>LBG0.?>=>K:E


@HO>KGF>GM:G=B?LI>G=BG@=>MA>:;BEBMRH?@HO>KGF>GMLMHINKHNKIKH=NKOB<>LHNKK>O>GN>$G:==BMBHG:GNF;>KH?HNKKLK>ER=BK>KGF>GMLI>G=BG@
L=>L=>EL>PA>K>BGMA>L>KBLD?::K>=>I>G=>GMHGBGM>KG:MBHG:EK>O>GN>:G=HI>K:MBHGL:G=:K>LN;C>E:M>=KBLDLH?LL@EH;:EER/K>G=LMHP:K=G:MBHG:EBLF:G=IKHM>P>:D>GBG@HK=BLLHENMBHGH?
BGM>KG:MBHG:EMK:=>I::L>MA>KPBL>BGM>K?>K>PBMALL/A>L>MK>G=LA:O>BG:L>=
IHEBMB<:E:G=>=B:L>MA>OHE:MBEBMRH?@EH;:E?BG:GML:G=MA>BFI:O>EHIF>GMLHGMA>@EH;:E>F:BGLNG<>KM:BG+HEBMB<:EBGLM:;BEBMRHK:=O>KL>IHEBMB<:E=>O>EHIF>GMLBG:GRH?
MA>LBGPAB=H;NLBG>LLLLK>LNEMLH?HI>K:MBHGL:G=?BG:G=BM=BM:O:BE:;BEBMR:G=MA>?BG:GKLBGKL:G=
EL=BLKNIMBHGBGMA>?BG:GMLF:R:ELHA:O>:G>??>KBO:MBO>K
I:KMB>L:G=KLHGPABK>ER?HKHI>K:MBG@<:LAF:G:@>F>GM2:KBGHG@HBG@P:KL;>MP>>GMA>0DK:BG>
:G=-NLLB::G=;>MP>>G$LK:>E:G=#:F:L:G=:GRK>E:M>=IHEBMB<:EHK>LIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>
;RO:KBHNL@EH;:E:@>G>K:E>??>@EH;:E>LLGRH?MA>L>>O>GMLLLK>LNEMLH?HI>K:MBHGL:G=?BG:G.A?5:1??/;A80.1-0B1>?18E59<-/@10.E@41/;?@?-:0/4-881:31?-??;/5-@10C5@4?@>-@135/-/=A5?5@5;:?-:05:B1?@91:@?
2>K>@NE:KER:HKBGO>LMBG;NLBG>LL>LLH?MP:K>LHENMBHGL:G=M>LMA:M:K>F>GM:KRMHHNK;NLBG>LL
MAKHN@A:@B<:EEB:G<>LHK>JNBMRHK=>;MBGO>LMF>GMLBGO>K:EMK:GL:KBLDL:LLH=PBMALNMA>=B??B@K:MBG@LHENMBHGLHI>K:MBHGL:G=I>KLHGG>EBGA>KBMBG@
EB:;BEBMB>LLNEE>KMRBG?KBG@>F>GMMHK>:EBS>:GMB=K>O>GN>:G=QI>=LRG>K@B>LMA>K>JNBK>F>GMMHM>LM:G=:LLBFBE:M>MA>BGM>KG:ELL>LH?MA>:=;NLBG>LLBG:<
PBMAMA>K>JNBK>F>GMLH?.>.:K;:G>L
*QE>RKLBHGH?F:G:@>F>GMLMBF>:G=:MM>GMBHG$G
:==BMBHGLNLMF>GMLBGOHEO>HMA>KKBLDLLNBG:;BEBMRMHK>M:BGKLD>R>FIEHR>>LO>G=HKL=BLMKB;NMHKL;NLBG>LLI:KMG>KL:G=HMA>K>GMBMB>L:LLH=
PBMAMA>:=;NLBG>LL

MA>IHM>GMB:EMA:M=N>=BEB@>G<>H?MA>:=;NLBG>LLHKLHENMBHG=H>LGHMB=>GMB?RLB@GB?B<:GMIKH;E>FL

>QIHLNK>MHEBMB@:MBHGHKHMA>KKBM:G<>H?LNEMH?:G
:KFBG:M>=>FIEHR>>LKLHKHMA>KMABK=I:KMB>L

MA>IHM>GMB:E?HKBG;NLBG>LLL

LB@GB?B<:GMERAB@A>KMA:G:GMB=MK:GL:@K:MBHG
K>E:M>=IHM>GMB:EMA:M:=;NLBG>LL>LHK;NLBG>LL>LMA:MP>BGO>LMBGF:RGHMA:O>:=>JN:M>LL>L:G=
IKH<>=NK>LMH>GLNK>PBMAE:PL:G=K>@NE:MBHGLBGLI>EE:L:GMB
;KB;>KR:G=:GMB
QIHKM@NE:MBHG

IHM>GMB:E:==BMBHG:E>QIHLNK>MH>G@:E:G=K>@NE:MHKRKBLDL:G=EB:;BEBMB>LBG=PBMALI>L:G=

MA>IHM>GMB:EBFI:E:MBHGLABILPBMA>QBLMBG@KLO>G=HKL:G==BLMKB;NMHKL:L;NLBG>LLI:KMG>KL:L:K>LNEM
H?:K;NLBG>LL
2>F:RGHM;>LN<<>LL?NEBGHO>KLMF>GMLF:RG>@:MBO>ERBFI:LL$G:==BMBHGB?P>=HGHMM>:G:GGHNG<>=:@K:M>:G:=;NLBG>LLLN<<>LL?NEER
:G=BG:MBF>ERF:GG>KP>F:RGHMK>:EBS>MA>;>G>?BMLH?MA>:>QM>GM:GMB=LMF>GMLA:O>BGMA>I:LM:G=F:RBGMA>?NMNK>MH?ENKER?BG:GLNEML/A>L>?EN?KHFMK:GL:E:M>=L:LLH=PBMA>EBFBG:MBG@K>=NG=:GM>QI>GL>LHKPKBM>
H??LH?BFI:BK>=
:LL>MLK>=BGLMF>GML:G=@:MBO>ERBFI:LNEML
,1->101<1:01:@;:5:@1>:-@5;:-8>1B1:A1-:0;<1>-@5;:?1D<;?5:3A?@;?53:525/-:@5:@1>:-@5;:-8>13A8-@;>E1/;:;95/
5:@1881/@A-8<>;<1>@E/;881/@5;:?/A>>1:/E1D/4-:31>-@1@-D-@5;:<;85@5/-8-:0;@41>>5?7?C45/4/;A80-0B1>?18E59<-/@;A>
25:-:/5-8>1?A8@?
$GM>KG:MBHG:EG>MK>O>GN>K>IK>L>GM>=:G=H?HNKG>MK>O>GN>?HK?BL<:E:G=K>LI>ER*NK
BGM>KG:MBHG:EK>O>GN>LHF>H?PABL?KHF>F>K@BG@>LBLLN;C>B@GF:KD>MLBGK>LNEMBG@?KHF>0GBM>=.M:M>L!HK>Q:FIE>P>A:O>


K><>GMERL>>G:=><>E>K:MBHGBG@KHPMABG<>KM:BG@>H@K:IAB>LBGO>GN>BL:ELHBFI:=;RMA>K>E:MBO>
@>H@K:IAB<:E:G=O>GN>HO>KMBF>*NK=>I>G=>GKG:MBHG:EK>O>GN>F:D>LNLFN
>QIHL>=MH@EH;:E>G=LPAB@:MBO>ERBFI:LNEML>O>GB?HNKK>LNEMLBGMA>
0GBM>=.M:M>L:K>LMKHG@?HK:I:KMBKBH=
2>:GMBMA:MHNKBGM>KG:MBHG:EHI>K:MBHGLPBEEMH:<MK>O>GN>:G=:L
P>>QI:G=HNKBGM>KG:MBHG:E=>O>EHIF>GML:E>L:G=F:KD>MBG@>QI>KMBL>PBEEIKHOB=>LB@GB?B<:GMLNIIHKMMHHNKHO>K:EE>??HKML
BGLHNMLB=>H?MA>0GBM>=.M:M>L-BLDLBGA>K>GMBGHNKBGM>KG:MBHG:EHI>K:MBHGLBG

>KMK:=>;:KKB>KL:G=K>LMKBLIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>;RO:KBHNL@EH;:E:HG@HBG@P:KL;>MP>>GMA>0DK:BG>:G=-NLLB::G=;>MP>>G
$LK:>E:G=#:F:L

?ENGQK:M>LBGO:EN:MBHGLGE:M>=MH:GR
A>=@BG@:LP>NG=>KM:D>

LBGK>@NE:MHKRK>JNBK>F>GML:G=IK:L

=>E:RLK>LNEMBG@?KHF=B??BQIHKMEB<>GL>L?HK<>KM:BGM>K>GMINKI:MM>KGL:L=MHMA>=>O>EHI>=PHKE=

HI>K:MBG@BGEH<:MBHGLPBMA:AB@A>KBGG<>H?GM;NLBG>LLIK:LI:KMBF>K@BG@
>L

PBMAMA>0.!HK>B@GHKKNIM+K:L0&KB;>KRK:GMB
LBGLM:??BG@:G=F:G:@BG@?HK>B@GL:E>L:G==>O>EHIF>GMHI>K:MBHGL

EH<:EMBMBHG

EHG@>KL?HK:<<>BO:;E>

0.:G=?HK>B@GM:QE:PL:G=MA>QBMB>LH?M:QK>IHKMBG@

E:PLK>@:K=BG@MA>?K>>?EHPH?=:M::KG:MBHG:E;HK=>KL:G=F:G:@>F>GMH?:G=:<<>LLMH=:M::G=IN;EB<
G>MPHKDL

IHLLB;E>?NMNK>EBFBM:MBHGLNIHG?HK>B@G
HPG>=;NLBG>LL>L

BG:L>=?BG:GIHKMBG@;NK=>GL:G=QBMB>L

BG:=>JN:M>EH<:EBG?K:LMKN

@K>:M>K=B??BEE>KMR

LH?MP:K>IBK:K?:RHG=HNKKKHKBLFP:KBGHG@HBG@P:KL;>MP>>GMA>
0DK:BG>:G=-NLLB::G=;>MP>>G$LK:>E:G=#:F:L:G=:GRK>E:M>=IHEBMB<:EHK>LIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>;RO:KBHNL@EH;:E:@>G>K:E>??>@EH;:E>KL:G=
=BL>:L>L:G=I:G=>FBH?HNK;NLBG>LLI:KMG>KL:ELHA:O>BGM>KG:MBHG:EHI>K:MBHGL:G=:K>LN;C>KBLDL=>L=:;HO>
/A>:IIEB<:MBHGH?MA>/K:=>:G=HHI>K:MBHG@K>>F>GM;>MP>>GMA> NKHI>:G0GBHGMA> NKHI>:GMHFB< G>K@R
HFFNGBMR:G=MA>0GBM>=&BG@=HFLB@G>=BG><>F;>KMA>[/\	PAB??>
:=O>KL>M:QM:QMK>:MR;:GDBG@HI>K:MBHG:EE>@:EK>@NE:MHKRHKHMA>KBFI:LL>LBGMA>K>@BHG/A>PBMA=K:P:E
KIHM>GMB:EHNML:M>G?K>>FHO>F>GMH?@HH=LL>KOB<>L:G=I>HIE>
;>MP>>GMA>0GBM>=&BG@=HF:G=MA> NKHI>:G0GBHG:G=LB@GB?B<:GMER=BLKNIMMK:=>;>MP>>GMA>0GBM>=&BG@=HF:G=MA>
 NKHI>:G0GBHG:G=HMA>KI:KMB>L0G<>KM:BGMR:KHNG=MA>L>:G=K>E:M>=BLLN>L:=MH:=O>KL>>??>0GBM>=
&BG@=HF> NKHI>:G0GBHG>L:G=MA>HMA>K>LBGPABHI>K:M>
$G:==BMBHGBGK><>GMR>:KLMA>0GBM>=.M:M>LA:LBGLMBMNM>=HKIKHIHL>=LMH?HK>B@GMK:=>IHEB
G>@HMB:MBHGHKM>KFBG:MBHGH?MK:=>:@K>>F>GMLMA>BFIHLBMBHGH?M:KB??LHGIKH=N=?KHF<>KM:BGL>L:G=HMA>K@HO>KGF>GMK>@NE:MBHGL:??>;>MP>>GMA>0GBM>=.M:M>L
:G=HMA>KLBGPAB=H;NLBG>LL(HK>K><>GMERMA>0GBM>=.M:M>L:G=HMA>K@EH;:E:BFIHL>=L:GLNEMH?MA>P:K:@:BGLM0DK:BG>E:NG=;R-NLLB::G=MA>HG@HBG@P:K;>MP>>G$LK:>E:G=#:F:L)>PHKBG:L>=
M:KB??L:G=HMA>KLBG0.MK:=>IHEBPL:GKK>M:EB:MHKR:=L
BGKM:BG?HK>B@G@HO>KGF>GMLBGABG>L>@HO>KGF>GMA:O>BGLMBMNM>=HKK>=
BFIHLBG@MK:=>L:GKM:BG0.
F:GN?:=@HH=L/A>>L<:E:MBHGH?IKHM>M:EB:MHKRMK:=>F>:LNK>LBG
>BMA>KMA>0GBM>=.M:M>LHK:GRHMA>KLBGPAB=H;NLBG>LLLNBGM:KB??


LMKNL>QIHKMHKHMA>KMK:=>IHEBLF:RBG:L>MA>KPBL>BGM>K?>K>PBMAMA>LL:G=:F:M>KB:E:=O>KL>>??>K:MBHGL:G=;NLBG>LLHNMEHHD
 O>GB?P>:K>:;E>MHLN<<>LL?NEERF:G:@>MA>KBLDLH?BGM>KG:MBHG:EHI>K:MBHGLHNK;NLBG>LLF:R;>:=O>KL>ER:??>=
B?HNK;NLBG>LLI:KMG>KL:K>GHM:;E>MHLN<<>LL?NEERF:G:@>MA>L>KBLDL
,19-E:;@.1-.81@;<>105/@?A.?/>5<@5;:>1:1C-8>-@1?-:0@415>59<-/@;:;A>2A@A>1>1B1:A1-:0;<1>-@5:3>1?A8@?
2>:K>=>I>G=>GMHG:MMK:PKL:LP>EE:LK>G>PBG@:G=>QI:G=BG@HNK;NLBG>LLPBMA>QBLMBG@KL
*NKKL:K>GHMH;EB@:M>=MHK>G>PMA>BKLN;LKBG@L:G=MA>RF:R>E>G>PNI@K:=>HK
>QI:G=MA>BKLN;L<:GGHM:LLNK>K>G>P:EK:M>LHKMA>FBQH?LN;LG>P:ELNLMHF>KK>G>P:EK:M>LF:R
=>HK?EN=N>MH:GNF;>KH??:KBG@IKBMBMBO>H??>KBG@LKL:MBL?:=NKLI>G=BG@E>O>ELK:KH?NL>KL=N>MH>ML
NG<>KM:BGMR$?HNKKL=HGHMK>G>PMA>BKLN;LRK>G>PHGE>LL?:OHK:;E>M>KFLHNKK>O>GN>LF:R
=>
D5?@5:3-:05:/>1-?10/;9<1@5@5;:-:0>-<508E1B;8B5:3@1/4:;8;35/-8/4-:31?9-E>10A/1;A>>1B1:A1-:0<>;25@?
/A>LH?MP:K>BG=NLMKRA:LEBFBM>=;:KKB>KLMH>GMKR:G=MA>:O:BE:;BEBMRH?OB<>LPBMAQI:G=BG@
I>K?HKF:G<>:MIKH@K>LLBO>EREHP>KIKB<>LLMHMA>>:L>H?F:KD>M>GMKR/A>BG=NLMKRA:LNG=>K@HG>:MK:GLBMBHG?KHF
=>O>EHIBG@:G=L>EEBG@I>KI>MN:EEB<>GL>L:G=HG
IK>FBL>LIKH=NG:;E>=M>L/ABLLAB?M
?NKMA>KEHP>KL;:KKB>KLMH>GMKR:G=IHL>L:=BLKNIMBO>G@>MH>LM:;EBLA>=LH?MP:K>L/A>F:KD>MLBGPAB
HI>K:M>:K>KBS>=;ROB@HKHNLMBMBHG;HMA;R>GMK:GMLPBMABGGHO:MBO>M>L:G=;RLPBMAF>GM:KRH??>KBG@L:G=M>L.HF>H?HNKMBMHKLA:O>@K>:M>K?BG:GL:G=
F:KD>MBG@:G=HMA>KK>LHNK<>L*NKMBMHKLF:R:ELH;>:;E>MH=>O>EHI:G=F:KD>MG>PM>LMA:MK>G=>KHNK
>QBLMBG@HK?NMNK>IKH=NLLMBMBO>!HK>Q:FIE>=BLKNIMBO>M>LLNE>:KGBG@:G=HMA>K$
M>LF:RLB@GB?B<:GMER:EM>KMA>F:KD>M?HKHNKIKH=N=BP:RL:G=K>=N<>K=>F:G=
!NKMA>KFHK>:K>=NGNF;>K:G=:O:BE:;BEBMRH?MABK=
I:KMR:IIEB<:MBHGLHKHNKBG:;BEBMRMHK:IB=ER:=:IM
MHM>KIK>?>K>G<>LBGK>E:M>=MH=>OB<>L:G=G>P
KL>ER:??>L:E>H?HNKLHENMBHGL><:NL>H?MA>L>:G=HMA>K?:MBMBO>BG=NLMKR:K>EBD>ERMHBGM>GLB?RBGMA>?NMNK>$G:L>=MBMBHGLNEMBGIKB<>K>=N=N<>=G>MK>O>GN>
:G=IKH?BMF:K@BGL:G=EHLLH?F:KD>MLA:K>:GRH?PABERA:KFHNK;NLBG>LL
$A>25:-:/5-8>1?A8@?71E91@>5/?-:0;@41>;<1>-@5:391@>5/?28A/@A-@1C5@45:1-/4=A->@1>-:02>;9=A->@1>@;=A->@1>
9-75:3;A>2A@A>1>1B1:A1-:025:-:/5-8>1?A8@?05225/A8@@;<>105/@
*NKJN:KM>KER?BG:GLNEMLD>RF>MKBKHI>K:MBG@F>MKB?EN=BGMA>I:LM:G=PBEEMH=H
LHBGMA>?NMNK>/A>L>?ENHNKLMHMHLB@GB?B<:GMERHK>QI>KB>G<>=>L2>:ELHIKHOB=>
BGO>LMHKLPBMAJN:KM>KER:G=:GGN:E?BG:GMA:MMH;>BG:<:L:K>LNEMH?MA>L>
?ENHMA>KKBLDL=>L=BGMA>L>KBLD?:H?MA>?:HNK?BG:GLNEMLD>RF>MKBKHI>K:MBG@F>MKBBG

@>G>K:EF:KD>M>LL:G=IHEBMB<:E+:G=>F>K@BG@>LBG<>LLBHGBGMA>0GBM>=.M:M>LHKHMA>KL

?:BENK>MHIKH=N<>LN??BGMK>O>GN>;BEEBG@LLN;LMH:<ERIK>=BBFI:=;NLBG>LL>LHKMHB=>GMB?R:G=K>:EBS>MA>:GMB=;>G>?BMLH?
:LL?NEERBGM>@K:M>LN=;NLBG>LL>L:G=M>L
X
LAB?MMHG:F>=
NL>KIE:GL:G=:GGN:E;BEEBG@H?FNEMB
R>:K=MA>MBFBG@H?HNK;BEEBG@L:G=<:LA
:K:G=PABQI>=MHBGMH?BL<:ER>:K

HNK:;BEBMRMHLN<<>LL?NEERBGMKH=N<>:G=>QI:G=G>PMK:GL:ELLNGMB:E@HH=PBEEBFI:BKF>GMLK>E:M>=MHIKBHK:MHF:G:@>LI>G=

LBG;BEEBG@LEBG>:KBMR

LBGLN;LLLNK>HKLBGLN;L:DHKG>@:MBO>@KHPMABGHG>HKFHK>H?MA>BG=NLMKB>LP>L>KO>BG=B:
:G=>GM>KM:BGF>GMF:KD>ML



MA>LN<<>LLH?G>P;NLBG>LLHKL:E>LBGBMB:MBO>L

L>:LK>E:M>=K>INM:MBHG:EA:KF:G=IHM>GMB:E?BG:GG:EMB>LMHKL:G=@HO>KGF>GM>GMBMB>L

K>LMKNK:<L:G=NG>QI>=KHI>K:MBG@>QI>GL>L

MBFBG@H?:==BMBHG:EBGO>LMF>GMLBGHNKM>LHK=>IEHRF>GMH?HNKL>KOB<>L

LBGK>O>GN>K>K:<EBG>L>FIEHR>=;RNL:G=HK>LM:;EBLA>=;RMA>!BG:GL:G= QHFFBLLBHGHKHMA>KKNE>F:DBG@;H=B>L

?ENB@GGQK:M>L:G=MA>>??>G>LLH?HNKA>=@BG@:I>G=>G<>HG:G=MBFBG@H?E:K@>MK:GL:GML:KBLBG@?KHFHG@HBG@HK?NMNK>M:Q>Q:FBG:MBHGL

MA>:;BEBMRH?@HO>KGF>GML:KHNG=MA>PHKE=MH:=HIM?BL<:EIHEBLF>>MMA>BK?BG:G;MH;EB@:MBHGL:G=
?BG:G<>BG?K:LMKNIKHC>MH>QI:G=HNKNMH:G=NMH'/K;:L>MHK>E:M>==>LB@GIKH=NKOB<>L

HNK:;BEBMRMHK:IB=ER:=:IMMHM>KIK>?>K>G<>LBGK>E:M>=MH=>OB<>L:G=G>PBGMKH=NPIKH=NMBMHKL

MA>?BG:GLLL>EE>K:G==BLMKB;NMBHGEL

I>K<>BO>=HK:KIKH;E>FLPBMA:IKH=NQI>=HKG>@:MBO>HNMLH?F:MM>KL:G=>QI>GL>LK>E:MBG@MHEBMB@:MBHGHKK>@NE:MHKRBGJNBKB>L

BG:L>LBGE:M>=>QI>GL>L

MBFBG@H?K>E>:L>L:G=K>MBK>F>GMLH?H??>KBG@L

LBGM:QE:PLHKM:QHK:<L:G=K>@NE:MBHGLLN:L>=NL>H??:BKO:EN>F>:LNK>L

LBGL:E>LGL:MBHGIK:L

?:BENK>MH>??>ERBFIE>F>GM:G=F:BGM:BGHNK@:EBS:MBHGIKH@K:FL>LI>O>EHIBG@L

K>G>@HMB:MBHGHKM>KFBG:MBHGH?KHR:EMRHKBGM>EE>KMR:KK:G@>F>GML

BGM>KKNIMBHGLHKM>KFBG:MBHGLBGMA>;NLBG>LLH?HNKO>EHI>KL

MBFBG@:G==>@K>>H?>QI>=BGO>LMF>GMLBG@KHPMA:G=>??BGL

?:BENK>MH:O>=LN<<>LLBGM>F>GML

<:M:LMKHIAB<>O>GMLG:MNK:E=BL:LM>KLHKIN;EB<A>:EMA>O>GMLLNFBIB=>FB@NE:MHKRMH:IIKHIKB:M>ER>LMBF:M>MA>LH?L>KOB<>LNG=>KF>GML
2>A:O>:ELH>QI>KB>G<>=?ENLNEMLBGBGM>KBFI>KBH=LBG<>KM:BG@>H@K:IAB<K>@BHGL=N>MH
L>:LHG:EBMRHKK>@BHG:E>LNEMLD>RF>MKBKHI>K:MBG@
F>MKB=NKBG@HNKMABK=JN:KM>K:K>NLN:EER:??>=;R:LEHP>KLNFF>KI>KBH=:G=HNK+HI>K:MBHGLMRIB<:EER
>QI>KB>G<>L>:LHG:ELEHPBG@BGHNK?HNKMAJN:KM>K2:KBGHG@HBG@P:KL;>MP>>GMA>0DK:BG>:G=-NLLB::G=
;>MP>>G$LK:>E:G=#:F:L:G=:GRK>E:M>=IHEBMB<:EHK>LIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>;RO:KBHNL
@EH;:E:@>G>K:E>??>@EH;:E>LL
*NKHI>K:MBG@>QI>GL>L:K>;:L>=BGI:KMHGHNK>QI>K>O>GN>:G=:K>K>E:MBO>ER?BQ>=BGMA>LAHKMM>KF
<O>GN>LAHKM?:EE;>EHP>QI>?NMNK>:GBFF>=B:M>:G=LB@GB?B<:GM
:=O>KL>>??>:M>KMA:G:GMB=>QI>GL>LHK:?:BENK>MHF:BGM:BGKB@HKHNL@:MBO>ER:??>5B1-?A.?@-:@5-8<;>@5;:;2;A>:1@>1B1:A12>;9-?9-88:A9.1>;2?;8A@5;:?5:/8A05:3;A>A@;.-?10?;2@C->1
<>;0A/@?-:0/;881/@5;:?-:052@41?1;221>5:3?->1:;@?A//1??2A8;A>>1B1:A1C;A80.1-0B1>?18E-221/@10
2>=>KBO>:LN;LM:GMB:EIHKMBHGH?HNKG>MK>O>GN>?KHFL:E>LH?LN;L=GNF;>KH?HNKH??>KBG@L
BGLHENMBHGL;:L>=HGNMHPABHNKKO>LI>ML:G=
IKH=NBGM>KHI>K:;E>PBMANMHGR?:KL>ER:??>LH?MA>L>LN;L
IKH=NE>:L>F:KD>M:<<>IM:G<>IKH=NMBMBHGI>K?HKF:G<>:G=K>EB:;BEBMRK>INM:MBHGIKB<>MBMBHG
>M:O:BE:;BEBMRH?MABK=
I:KMR:IIEB<:MBHGLPHNE=EBD>ERA:KFHNK?BG:GLNEML


NKBG@?BL<:E:G==K>O>GN>?KHFHNKNMH:G=NMH'/?:FBERIKH=NGMK>IK>L>GM>=:G=H?HNKMHM:EG>MK>O>GN>K>LI>ER
>;9@591@;@591C1>1-853:;>5:@>;0A/1:1C.A?5:1??-:0?-81?5:5@5-@5B1?52C12-58@;?A//1??2A88E1D1/A@1-:09-:-31
@41?15:5@5-@5B1?;A>>1?A8@?;2;<1>-@5;:?/;A80.1:13-@5B18E59<-/@10
LI:KMH?HNK>??HKMMH:<HNKKL^G>>=L:G==>F:G=L:G=MA>K:IB=>OHENMBHGH?M>
MHMBF>P>>OHEO>HNK;NLBG>LL:G=L:E>LBGBMB:MBO>LLN:KQI:G=BG@G>P;NLBG>LLFH=>ELLNG>PMK:GL:E:G=!' 3K>:EB@GBG@HNK=>O>EHIF>GM:G=F:KD>MBG@
HK@:GBS:MBHGLH??>KBG@LH?MP:K>:L:L>KOB<>:G=K>:EB@GBG@HNKBGM>KG:EK>LHNK<>LBG:G>??HKMMHBFIKHO>>??BGF:R
M:D>LN:KBG=B<:MBHGLMA:MMA>RPBEEIKHO>LN<<>LL?NE:G=:MMBF>LP>A:O>;>>GF>MPBMALAHKM
M>KF
G@>LBGMA>>Q>L(:KD>M:<<>IM:G<>H?:GRG>P;NLBG>LLHKL:E>LBGBMB:MBO>BL=>I>G=>GMHGHNK
:;BEBMRMHF:MKL^G>>=L:MMA>KB@AMMBF>:G=IKB<>*?M>GP>A:O>EBFBM>=IKBHK>QI>KB>G<>:G=HI>K:MBG@ABLMHKR
BGMA>L>G>P:K>:LH?>FIA:LBL$?:GRH?HNK:LLNFIMBHGL:;HNM>QI>GL>LK>O>GN>HKK>O>GN>K>L?KHFMA>L>
BGBMB:MBO>LIKHO>LBGFIMLMHBFIKHO>>??BGGHMLN<<>LL?NEHNK:LNEMLF:RO:KRF:M>KB:EER?KHF
MAHL>:GMB=:G=HNK?BG:GLNEMLPBEE;>G>@:MBO>ERBFI:=
#1@>1B1:A1.5885:3?1->:5:3?/-?428;C;>?A.?/>5<@5;:??4;>@2-88?;>B;8-@585@E;2@419->71@31:1>-88E9-E/-A?1@419->71@
<>5/1;2;A>?@;/7@;01/85:1
/A>F:KD>MIKB<>?HKHNKQI>KB>G<>=LB@GB?B<:GM?ENMH?EN
LB@GB?B<:GMER/A>F:KD>MIKB<>?HKHNK:??>=;R:GNF;>KH??:HMA>KKBLDL
=>L=BGMA>L>KBLD?:?HEEHPBG@

LAHKM?:EELBGHNK>QI>=?BG:GLNEMLBGMK>O>GN>;BEEBG@L>:KGBG@L:G=<:LA?EHPHKD>RI>K?HKF:G<>
F>MKBK>LNEMLMHL>L:G:ERLM>QI>MA>K
MAHL>K>LNEML?:BEMHF>>M>Q<>>=HKLB@GB?B<:GMER>Q<>>=L>L:G:ERLM>QI>KERO:KB:MBHGLBGHNKHKHNKMBMHKL^K>LNEMLH?HI>K:MBHGL

@>G>K:ELHM<>LLBHGBGMA>
0GBM>=.M:M>LHKBGHMA>KL

LBG?HKP:K=
EHHDBG@>LMBF:M>LH??NMNK>K>LNEMLAHPMAHL>>LMBF:M>LMHL>L:G:ERLM>QI>LBGK>G=:MBHGLHKI:KMH?:G:ERLML:G=BGO>LMHKL:;HNMMA>LAHKM
:G=EHG@
M>KF
BFI:LL

NG<>KM:BGMR:;HNM<>KM:BG@HO>KGF>GML^:;BEBMB>LMHK>I:R=>;MHK>??>F>GMLH?G>PH??>KBG@LHK>GA:G<>F>GML;RNLHKHNKMBMHKL

NGNLN:E>O>GMLLNLMBMNK>LK>@NE:MHKR:LBGE:PLKNE>LHKK>@NE:MBHGL:IIEB<:;E>MHHNK;NLBG>LL

HNMLM:G=BG@=>;ML>KOB<>H;EB@:MBHGL:G=

HMA>K?:E:M>=MHHNKHI>K:MBG@I>K?HKF:G<>LN>
HI>K:MBG@I>K?HKF:G<>H?HNKMBMHKL
.B@GB?B<:GMLBGMA>IKB<>H?HNKQIHL>NLMH
KI>KBH=LH?OHE:MBEBMRBGMA>F:KD>MIKB<>H?:L:LFHK>LNL<>IMB;E>MHL>LH?EBMB@:MBHGBLH?M>G>QI>GLBO>:G==BO>KMLF:G:@>F>GM^L:MM>GMBHG:G=K>LHNK<>L
?->1?A8@;2;A>?@>-@13E;2<->@:1>5:3C5@4;@41>/;9<-:51?2;><>;0A/@01B18;<91:@;A><>;0A/@0185B1>E?/410A81?/;A80
.1-0B1>?18E-221/@1052C11D<1>51:/105225/A8@51?C5@4;A><>;0A/@01B18;<91:@<->@:1>?
2>I:KMG>KPBMA<>KM:BGBG=>I>G=>GM?BKFL:G=K?HKFLHF>H?HNKIKH=NO>EHIF>GM:L2>
;>EB>O>HNKI:KMG>KBG@LMK:M>@R:EEHPLNLMH:O>>??BGLBG=>O>EHIBG@G>PIKH=NGA:GQBLMBG@IKH=NKBG@L/ABLLMK:M>@R:M>L:=>I>G=>GI>G=>GM=>O>EHI>KL$G=>I>G=>GM=>O>EHI>KLBGPAHGMER=>O>EHILHENMBHGL?HKNLBGMA>0GBM>=.M:M>L:G=MAKHN@AHNMMA>PHKE=F:RGHM;>:;E>HKPBEEBG@MH
IKHOB=>=>O>EHIF>GMLNIIHKMMHNLBGMA>?NMNK>$G:==BMBHGNL>H?=>O>EHIF>GMK>LHNK<>LMAKHN@AE:MBHGLABIL
I:KMBO>EHIBG@E>@:ELRLM>FLF:R;>:=O>KL>ERBFI:=;R:G=>QIHL>NLMHKBLDL
K>E:MBG@MH>OHEOBG@>FIEHRF>GM>QIHKM:G=BGM>EE>KMRE:PL/A>L>KBLDLKMABG@L>QIHL>HNK
BGM>EE>KMRMHFBL:IIKHIKB:MBHG:G=K>LNEMBG=BLKNIMBHGLMHIKH=NEBO>KRL=NE>L


,15:/;><;>-@15:@;;A>;221>5:3?-:0/4-881:31?C5@4<>;<1>8E9-:-35:35@?A?1/;A80>1?A8@5:/;9<1@5@5B14->9
>19;>85-.585@E-:0-0B1>?18E-221/@;A>>1?A8@?;2;<1>-@5;:?
2>:K>BG:LBG@ER;NBE=BG@$BGMHF:GRH?HNKH??>KBG@L2>>QI>ERHG$M>LMHA>EI=KBO>?NMNK>
@KHPMABGHNK;NLBG>LL;NMMA>K><:G;>GH:LLNK:G<>MA:MP>PBEEK>:EBS>MA>=>LBK>=HK:GMB=;>G>?BML?KHF$HK:M:EE
2>F:R:ELH?:BEMHIKHI>KERBFIE>F>GMHKF:KD>MHNK$H??>KBG@LLPBMAF:GRBGGHO:MBHGL$IK>L>GMLKBLDL:G=G@>L
MA:MK>?HK>HNK;NLBG>LL*NKMBMHKLHKHMA>KMABK=I:KMB>LF:RBG$BGMHMA>BK
IKH=NJNBLN<<>LL?NEERMA:GNLPABM>>??>ER:G=:=O>KL>ER:??>LNEML H? HI>K:MBHGL ==BMBHG:EER HNK H??>KBG@L ;:L>= HG $ F:R >QIHL> NL MH :==BMBHG:E E:PLNBML :G= K>@NE:MHKR
BGO>LMB@:MBHGL:G=LN;C>@:EEB:;BEBMR:LP>EE:L;K:G=:G=K>INM:MBHG:EA:KF!HK>Q:FIE>B?MA>GM:G:ERL>LHK
K>G=:MBHGLMA:M$:IIEB<:MBHGL:LLBLMBGIKH=NHK:K>:EE>@>=MH;>=>?BGMBG:<HK;B:L>=HNK;NLBG>LL
?BG:GLNEMLH?HI>K:MBHGLF:R;>:=O>KL>ER:??>=/A>NL>H?$:IIEB<:MBHGLA:LK>LNEM>=BG:G=F:RBG
MA> ?NMNK> K>LNEM BG KL>GML MA:M BFIEB<:M> MA> I>KLHG:E =:M: H? >G= NL>KL H? LNKL>GMLK>E:M>=MHHNKNL>H?$:IIEB<:MBHGLKL>ER:??>INM:MBHG:G=K>LNEMLH?HI>K:MBHGL
.HMAB<:EBLLN>LK>E:MBG@MHMA>NL>H?G>P:G=>OHEOBG@M>LLNKBG@LF:RK>LNEMBG
K>INM:MBHG:EA:KF:G=EB:;BEBMR:G=F:R<:NL>NLMHBGL>:KO>EHIF>GMLHEO>LNL$
IK>L>GML >F>K@BG@ >MAB<:E BLLN>L :G= B? P> >G:;E> HK H??>K LHENMBHGL MA:M =K:P KLR =N> MH MA>BK I>K<>BO>= HK :MRP>F:R>QI>KB>G<>;K:G=HKK>INM:MBHG:EA:KFMBMBO>A:KFHKE>@:EEB:;BEBMR+HM>GMB:E@HO>KGF>GM
K>@NE:MBHGBGMA>LI:<>H?$>MAB:L>MA>;NK=>G:G=L>:KO>EHIF>GMBGMABL:K>:LN;C>INM:MBHG:EA:KFMBMBO>A:KFHKE>@:EEB:;BEBMR!:BENK>MH:==K>LL$>MABL;RNLHKHMA>KLBGHNK
BG=NLMKRKFBG>IN;EB<G<>BG$:G=LEHP:=HIMBHGH?$BGHNKIKH=NKOB<>L
)41A05@;995@@115:@1>:-85:B1?@53-@5;:4-?.11:@591/;:?A95:3-:01D<1:?5B14-?>1?A8@105:@412585:3;2-/8-??-/@5;:
8-C?A5@-:09-E>1?A8@5:-005@5;:-81D<1:?1-:0	;>85@53-@5;:
LIK>OBHNLER=BL=HGIKBEMA>N=BMHFFBMM>>G<>=:GBGM>KG:EBGO>LMB@:MBHGPBMAMA>:LLBLM:G<>
H?HNMLB=>E:G=:=OBLHKLK>@:K=BG@NMH=>LD^L?K>><:LA?EHP:G=GHG
"+HI>K:MBG@F:K@BGIK:L/A>K>LNEMLH?
MA:MBGO>LMB@:MBHGP>K>:GGHNG<>=HG(:R
2>A:O>BG=LB@GB?B<:GM>QI>GL>LBG@:EKIKH?>LLBHG:E?>>LBGBGO>LMB@:MBHG:G=P>?HK<>=MHBG:G=>QI>GL>:L:K>LNEMH?MA>BGO>LMB@:MBHG/A>BGG<>H?
LB@GB?B<:GM:==BMBHG:E>QI>GL>HKMA>K>JNBK>F>GMMA:MF:G:@>F>GM=>OHM>LB@GB?B<:GMMBF>MA:M=N<>MA>MBF>:O:BE:;E>
MH>Q>HGHNK;NLBG>LLLMK:M>@B>L:G:=O>KL>>??>LLK>LNEMLH?HI>K:MBHGL:G=?BG:GLDOHENGM:KBER=MA>.>L:G= QHFFBLLBHGMA>[. \	MH:=OBL>BMMA:M:GBGM>KG:E
BGO>LMB@:MBHGP:LHG@HBG@/A>HFI:GRBGM>G=LMHK:M>PBMAMA>. ^LBGO>LMB@:MBHG!NKMA>KFHK>B?MA>. 
G<>LE>@:E:K>JNBK>=MHI:RLB@GB?B<:GMI>G:EMB>L:G=;>LN;C>:L>:G==>LBLM
HK=>K:G=HMA>K>JNBM:;E>K>F>=B>L/A>MBHGH?MA>N=BMHFFBMM>>BGO>LMB@:MBHG:G=?BEBG@H?:GR=>EBGJN>GMI>KBH=B<
K>IHKMLPBEEGHM:NMHF:MB<:EERK>LHEO>MA>. BGO>LMB@:MBHG$G:==BMBHGMA>0GBM>=.M:M>LMMHKG>R^L*??B<>?HKMA>)HKMA>KG
BLMKB=NLK>@:K=BG@MA>N=BMHFFBMM>>BGO>LMB@:MBHG2><:GGHM@N:K:GM>>MA:MP>PBEEGHMK><>BO>
BGJNBKB>L?KHFHMA>KK>@NE:MHKR:NMAHKBMB>LK>@:K=BG@MA>BGO>LMB@:MBHGHKMA:MP>PBEEGHM;>LN;C>LMB@:MBHGLHKIKH<>>=BG@LGR?NMNK>BGJNBKB>L?KHFMA>. HKHMA>KK>@NE:MHKR:NMAHKBMB>LHK?NMNK>>=BG@L
HK:GRK>E:M>=K>@NE:MHKRBGO>LMB@:MBHGPBEEK>@:K=E>LLH?MA>HNMEBD>ER:LB@GB?B<:GM:FHNGMH?HNKBGM>KG:E
K>LHNK<>L:G=K>LNEMBG:==BMBHG:EE>@:E:G=:<<:GIKHOB=>GH:LLNK:G<>L:LMHMA>HNMH?:GR
@HO>KGF>GM:EBGO>LMB@:MBHG
$G:==BMBHGP>:G=<>KM:BGH?HNKH??B<>KL:G==BK>;>>GG:F>=BG:INKIHKM>=LA:K>AHE=>KF>GMH?MA>BGO>LMB@:MBHG!HK:==BMBHG:E=BL>$M>F'>@:E+KH<>>=BG@L:G=)HM>MHHNK
HGLHEB=:M>=!BG:GF>GML/A>I>G=BG@EBMB@:MBHG:G=:GR?NMNK>EBMB@:MBHGBGO>LMB@:MBHGHKHMA>K:
?BE>=HKBGBMB:M>=:@:BGLMNLHKHNKH??B<>KLHK=BK>MBF>QI>GLBO>2><:GGHMIK>=BL
P>F:RBGL>EBMB@:MBHGF:MM>KL:G=GLK>E:M>=MHHNKH;EB@:MBHGLNG=>KMA>?>=>K:E:G=LM:M>L>LE:PL
HKBGHMA>KE>@:EIKH<>>=BG@LHK@HO>KGF>GM:EBGO>LMB@:MBHGLHKIKH<>>=BG@LK>E:M>=MHMA>L>F:MM>KL


GRE>@:EIKH<>>=BG@LB?=>=:=O>KL>ERMHNLLNEMBGLB@GB?B<:GMFHG>M:KR=:F:@>LI>G:EMB>L:G=K>INM:MBHG:E
A:KF:G=PBEEEBD>ERBGOHEO>LB@GB?B<:GM=>?>GL>:G=HMA>KA:O>>GM>K>=BGMHBG=>FGB?B<:MBHG:@K>>F>GMLPBMA>:KM:BGH?HNKH??B<>KL:G=HNK;RE:PLK>JNBK>NLMHBG=>FGB?R>:KL!NKMA>KHNK
BGLNK:G<>F:RGHMK:EE;>>GHKF:R;>;KHN@AM:@:BGLMNL:G=BGLNK:G<>K:@>F:RGHMMH;>
:O:BE:;E>MHNL:M:K>:LHG:;E>LNEMP>F:R;>>QIHL>=MHLN;LM:GMB:ENGBGLNK>=EB:;BEBMB>LBGFGB?B<:MBHGH;EB@:MBHGLPABKL>ER:??>LLIKHLI>LNEMLH?HI>K:MBHGL:G=?BG:G$<1>-@5;:?
(1/A>5@E.>1-/41?;>5:/501:@?9-E/;9<>;95?1@415:@13>5@E;2;A>;>;A>/A?@;91>?J?E?@19??;8A@5;:?;221>5:3??1>B5/1?
-<<85/-@5;:?0-@-;>5:@1881/@A-8<>;<1>@E4->9;A>>1/;9<1@5@5B1:1??/>1-@1-005@5;:-885-.585@E-:0
-0B1>?18E59<-/@;A>25:-:/5-8>1?A8@?
LP>=B@BMBS>NMH=>LD:G=NL>;
;:L>=M>LMHE>O>K:@>K=:M:MH=>EBO>KMA>MHM:E
K>QI>KB>G<>P>:K>>QIHL>=MHBG:L>=L>IHM>GMB:E?HKNG:NMAHKBS>=:<<>LLMHHKBFIKHI>KNL>
=BLHKHMA>KIKH<>LLBG@H?HNK:G=HNKKL^BG?HKF:MBHG'BD>HMA>KLH?MP:K>H??>KBG@L:G=LRLM>FLHNKL:K>
ONEG>K:;E>MHL>:L:G=BGGMLBG?KHF:=LELHHNK:;BEBMRMHFBMB@:M>MA>KBLDH?
L>:L:G=BGGMLF:R;>BFI:=;RHNKEBFBM>=KHNKKLHKMABK=
I:KMRM>KL
:G=O>G=HKLHKMA>IKH<>LLBG@H?=:M:;RMABK=
I:KMRM>KL:G=O>G=HKLPAB
BGM>@KBMRHKL>LLBG@2>=>OHM>LB@GB?B<:GMK>LHNK<>LBG:G>??HKMMHF:BGM:BGMA>L>@KBMRH?HNKLRLM>FLH??>KBG@LL>KOB<>L:G=:IIEB<:MBHGLHGEBG>FH;BE>:G==>LDMHI	>LIBM>MA>L>>??HKMLP>F:R
GHMIK>O>GML>:LHKBGGML:G=P>F:R?:<>=>E:RLHKHMA>K=B??BLBGB=>GMB?RBG@K>LIHG=BG@MHHK
K>F>=B:MBG@L>:LHKBGGML
#:KLK>@NE:KERA:O>M:K@>M>=HNKLRLM>FLH??>KBG@LL>KOB<>L:G=:IIEB<:MBHGL:G=P>>QI>FMH=HLHBGMA>
?NMNK>/H=:M>LNGMB?B>=L>O>GMLA:O>GHM;>>GF:M>KB:EHKLB@GB?B<:GMMHNLHKHNKKLBGINM:MBHGHK;NLBG>LLHI>K:MBHGLHKA:=:F:M>KB:E?BG:GK><:G;>GH:LLNK:G<>MA:M?NMNK>K:MM:F:M>KB:EHKLB@GB?B<:GM.>:LHKBGGMLIKHI>K?NGFLLHENMBHGL
H??>KBG@L :IIEB<:MBHGL HK L>KOB<>L <:NL> >KKHKL BG MA> HNMINM H? HNK KL^ PHKD :EEHP NG:NMAHKBS>= :<<>LL MH HK
NG:NMAHKBS>= NL> =BL FH=B?B<:MBHG EHLL NG:O:BE:;BEBMR HK =>LMKNGLBMBO> =:M: HK BGM>EE>KMR
BGM:KRHKGMB:EBG?HKF:MBHGH?HNKLHKHNKKLHK<:NL>HMA>K=>LMKNHK=BLKNIMBO>HNML
/A>KBLDH?:L>GMI:KMBK
:MM:KBGMKNLBHGBGKA:KL?HK>B@G
@HO>KGF>GML:G=KM>KKHKBLMLA:LBG:L>=:LMA>GNF;>KBGM>GLBMR:G=LHIABLMB<:MBHGH?:MM>FIM>=:MM:PHKE=A:O>BG:L>=/A>L>MAK>:MLBG:FHG@HMA>KLB=>GMBMRMA>?MNG:NMAHKBS>=:<<>LL).:MM:
E>LLG>MPHKD:MM:
L:G=PHKFLF:EP:K>;N@LONEG>K:;BEBMB>L:=O:G<>=I>KLBLM>GMMAK>:ML:IIEB<:MBHG
<>GMKB<
:MM:
>K
MH
I>>K:MM:
G@BG>>KBG@IABLABG@=>GMB:ELMN??BG@F:EBNIEH:=L;: :MM:
= =>GB:E H? L>KOB<> :MM:L F:R :MM>FIM MH
?K:N=NE>GMERBG=N<>HNK>FIEHR>>LO>G=HKLI:KMG>KLKLHKNL>KLMH=BLBG?HKF:MBHGMH@:BG:<<>LLMHHNK=:M:HK
HNKKL^HKNL>KL^=:M::G=MA>K>BLMA>KBLDH?>FIEHR>>G=HK>KKHKHKF:E?>:L:G<>/A>L>>QBLMBG@KBLDL
:K> = @BO>G MA> LAB?M BG K><>GM R>:KL MH PHKD
?KHF
AHF> :KK:G@>F>GML ?HK : E:K@> IHINE:MBHG H? >FIEHR>>L :G=
EE:L>FIEHR>>L:G=KL:G=O>G=HKL:G=MA>KBLDL>E>O:M>=BGHG@HBG@P:K;>MP>>G0DK:BG>:G=-NLLB::LP>:G=HNKMABK=
I:KMRM>KL
:G=O>G=HKL:K>ONEG>K:;E>MH:A>B@AM>G>=KBLDH?K:MM:=PBMAG:MBHG
LM:M>:M:EB:MHKR
:MM:=L>LIBM>HNKLB@GB?B<:GM>??HKMLMH:M>L>KLMHLN:MLP><:GGHM>GMBK>ERFBMB@:M>MA>L>KBLDL:G=MA>K>BLGH@N:K:GM>>MA:MBG:=O>KM>GMHKNG:NMAHKBS>=NL>HK=BLH?
LNLPBEEGHM@:BGNG:NMAHKBS>=:<<>LLMHLNKGF>GMLA:O>>G:=E:PLK>JNBKBG@LMHIKHOB=>GHMB<>H?L>:LHKBGGMLBGOHEOBG@
<>KM:BGMRI>LH?I>KLHG:E=:M::G=I>KLHG:EBG?HKF:MBHG2>:K>:ELHJNBK>=MHGHMB?R<>KM:BGKLH?<>KM:BG
L>:LHKBGGMLGRL>:GMLN??>K>=HK;>EB>O>=MHA:O>;>>GLN??>K>=;RNLHK;RHNK
M>KLHKO>G=HKLLNEMBGA:KFMHHNKK>INM:MBHG:G=MBMBO>IHLBMBHG=B??BP
KLK>M:BGBG@>QBLMBG@KL:G=L>GM?KHFKLHNK>QI>G=BMNK>H?LB@GB?B<:GM<:IBM:E:G=HMA>K
K>LHNK<>LMH>O:EN:M>:G=:EE>OB:M>MA>L>GM:G=MHMKRMHIK>O>GM?NKMA>KHK:==BMBHG:EBGGML:G=K>@NE:MHKR
BGJNBKB>LBGO>LMB@:MBHGL:G=HMA>KIKH<>>=BG@LIKBO:M>F:G=L:G=E:PLNBML:G=HMA>KIHM>GMB:EEB:;BEBMR2>LBGMHEBMB@:MBHGBG=>FGBMRH;EB@:MBHGL=:F:@>L?HK:G:EMB>L
?HKOBHE:MBHGH?:IIEB<:;E>E:PLHKK>@NE:MBHGL:G=F>=B:MBHG:G=HMA>KBG<>GMBO>LH??>K>=MHKLHKHMA>K
;NLBG>LLI:KMG>KLBG:G>??HKMMHF:BGM:BG;NLBG>LLK>E:MBHGLABIL:?M>K:L>:GM:G=HNK?BG:GK?HKF:G<>G>@:MBO>ERBFI:=


2><:GGHM:LLNK>RHNMA:M:GREBFBM:MBHGLH?EB:;BEBMRIKHOBLBHGLBGHNK>G?HK<>:;E>HK:=>JN:M>HK
PHNE=HMA>KPBL>IKHM>LHK=:F:@>LPBMAK>LI>E:MBG@MH:L>GM
2> :ELH <:GGHM ;> LNK> MA:M HNK >QBLMBG@ BGLNK:G<> K:@> PBEE  MH ;> :O:BE:;E> HG :<<>IM:;E> M>KFL HK PBEE ;>
:O:BE:;E>BGLN??BGM:FHNGMLMHKHG>HKFHK>E:K@>E:M>=MH:L>GMHKMA:MMA>BGLNK>KPBEEGHM=>GR
K:@>:LMH:GR?NMNK>LN<<>LL?NE:LL>KMBHGH?HG>HKFHK>E:K@>Q<>>=:O:BE:;E>BGLNK:G<>
K:@> HK MA> H<G<> H? L BG HNK BGLNK:G<> IHEBL BGFBNF BG:L>L HK MA> BFIHLBMBHG H? E:K@>
=>=NHKK>JNBK>F>GML:F:M>KB:E:=O>KL>>??>LLBGK:MBG@K>LNEML:G=K>INM:MBHG
$A>A?1;2@45>0<->@E;<1:?;A>/1?;2@C->1/;A80:13-@5B18E-221/@;A>-.585@E@;?188?A.?/>5<@5;:?@;-//1??;A><>;0A/@?-:0
?A.61/@A?@;<;??5.8185@53-@5;:-:03>1-@1>?1/A>5@E>5?7?
2>NL>MABK=
I:KMRHI>GLHNK<>LH?MP:K>!KHFMBF>MHMBF>LMA:MNL>MABK=
I:KMRHI>GLHNK<>LH?MP:K>A:O>
?:<>=G@BG@MA>NL>H?LNGLHNK<>LH?MP:K>:G=PBMAMA>HI>GLHNK<>LH?MP:K>EB<>GL>M>KFL
< F:R ;> LN;C>L KLABI H? PA:M P> ;>EB>O> MH ;> HI>G LHNK<> LH?MP:K> HK
PBMAMA>:IIEB<:;E>HI>GLHNK<>EB<>GLBG@M>KFL.HF>HI>GLHNK<>LH?MP:K>EB<>GL>LK>JNBK>>G=
NL>KLPAH=BLMKB;NM>HKF:D>:O:BE:;E>:MPHKDLH?MP:K>:G=L>KOB<>LMA:MBGHI>GLHNK<>LH?MP:K>MHF:D>
IN;EBHKMHEB<>GL>:EEHKI:KMH?LNPABLO:EN:;E>IKHIKB>M:KR
LNKBO:MBO>PHKDL:M>=;:L>=NIHGBGHI>GLHNK<>LH?MP:K>	NG=>K
MA> M>KFL H? MA> I:KMBG LHNK<> EB<>GL> 2ABE> P> >FIEHR IK:L =>LB@G>= MH FHGBMHK HNK  PBMA MA>
EB<>GL>LH?MABK=
I:KMRHI>GLHNK<>LH?MP:K>:G=IKHM>IKHIKB>M:KRLHNK<>P>F:RBG:=O>KM>GMERNL>MABK=
I:KMRHI>GLHNK<>LH?MP:K>BG:F:GG>KMA:M>QIHL>LNLMHPBMAMA>M>KFLH?MA>:IIEB<:;E>EB<>GL>
BGEE>KMR KB@AML BG?KBG@>F>GM HK ?HK ;K>:KFHK> MA>K> >QBLML MH=:R :G
BG:LBG@GNF;>KH?MRI>LH?HI>GLHNK<>LH?MP:K>EB<>GL>L:EFHLMGHG>H?PAB;>>GM>LM>=BG
BKIKHI>KE>@:EBGM>KIK>M:MBHG$?P>P>K>MHK><>BO>:PBMAMA>M>KFLH?:GRH?MA>L>HI>G
LHNK<> EB<>GL>L P> F:R ;> K>JNBK>= MH IN;EBE>:L> <>KM:BG IHKMBHGL H? HNK IKHIKB>M:KR LHNK<>  2> 
K>JNBK>= MH >QI>G= LN;LM:GMB:E MBF> :G= K>LHNK<>L MH K>
>G@BG>>K LHF> HK :EE H? HNK LH?MP:K> GR H? MA> ?HK>@HBG@ KB:EER:=O>KL>ER:??>LL?BG:GLNEMLH?HI>K:MBHGL:G=IKHLI>NL>H?MABK=
I:KMRHI>GLHNK<>LH?MP:K>MRIB<:EER>QIHL>LNLMH@K>:M>KKBLDLMA:GMA>NL>H?MABK=
I:KMR
K ;><:NL> HI>G LHNK<> EB<>GLHKL @>G>K:EER =H GHM IKHOB=> P:KK:GMB>L HK  ?NGLH?MP:K>0L>H?HI>GLHNK<>LH?MP:K>F:R:ELHIK>L>GM:==BMBHG:EL><:NL>MA>IN;EB<:O:BE:;BEBMRH?
LNF:RF:D>BM>:LB>K?HKA:KL:G=HMA>KMABK=I:KMB>LMH=>M>KFBG>AHPMHHNKIE:M?HKFGRH?MA>
?HK>@HBG@KB:EER:=O>KL>ER:??>LL?BG:GLNEMLH?HI>K:MBHGL:G=IKHLI>EI
HNKMBMHKL=>O>EHIIKH=NKOB<>LMA:M:K>LBFBE:KMHHK;>MM>KMA:GHNKL
,1>18E;:@45>0<->@51?@;<>;B501A?C5@4-:A9.1>;2;<1>-@5;:-8-:0@1/4:5/-8?1>B5/1?@45>0<->@E?1/A>5@E5:/501:@?/;A80
>1?A8@5:@418;??;2;A>;>;A>/A?@;91>?J0-@-1D<;?1A?@;85-.585@E4->9;A>>1/;9<1@5@5B1:1??-:0
-0B1>?18E59<-/@;A>25:-:/5-8>1?A8@?
2>K>ERHGMABK=I:KMB>LLN;.>KOB<>LMHIKHOB=>NLPBMAHI>K:MBHG:E:G=M>KOB<>L/A>L>
MABK=I:KMB>LF:RA:O>:<<>LLMHHNKLRLM>FLIKHOB=>AHLMBG@L>KOB<>LHKHMA>KPBL>IKH<>LL=:M::;HNMNLHKHNKKL
>FIEHR>>LHKI:KMG>KL*NK:;BEBMRMHFHGBMHKLNL^L>:LNK>LBLEBFBM>=/A>K>A:O>;>>G:G=F:R
MH;>LB@GB?B<:GMLNIIER<:GGHM@N:K:GM>>MA:MHNKHKHNKLNL^LRLM>FLA:O>GHM
;>>G;K>:=HKHMA>KPBL>=HKMA:MMA>R=HGHMQIEHBM:;E>=>?>K:;BEBMB>LMA:MLNEMBG:GBGGM;K>:K=BLKNIMBHGMHHNKHKMA>L>MABK=I:KMB>L^LRLM>FLGRL>:GMBGOHEOBG@
LNLMA>BGM>@KBMRHK:O:BE:;BEBMRH?HKK>LNEMBGMA>MA>?MHKNG:NMAHKBS>=NL>FH=B?B<:MBHGHK
HMA>KIKH<>LLBG@H?HNK:G=HNKKL^=:M:$G:==BMBHGHNKHI>K:MBHGLHKMA>HI>K:MBHGLH?HNKKLHKI:KMG>KL
G>@:MBO>ER:??>=BGMA>>O>GMH?:L>:GM:G=LN;C>EHLLHKMA>?MH?GMB:E
HKIKHIKB>M:KRBG?HKF:MBHGBG0G:NMAHKBS>=:<<>LLMHHKHMA>KIKH<>LLBG@H?=:M::G=HMA>KGMB:EHK
IKHIKB>M:KRBG?HKF:MBHGF:R;>H;M:BG>=MAKHN@A;K>:D
BGLG>MPHKD;K>:L;RNG:NMAHKBS>=I:KMB>L>FIEHR>>MA>?MHK
FBLNL>HKHMA>KFBL?HK>@HBG@P>K>MHH<I>K<>BO>=MHH<INM:MBHGF:RLN??>KHNK
MBMBO>IHLBMBHGF:R;>=BFBGBLA>=KLF:R;NR?>P>KH?HNKH??>KBG@L:G=L>KOB<>LP>E:PLNBML
K>@NE:MHKRBGO>LMB@:MBHG?BG>L:G=IHM>GMB:EEB:;BEBMR:G=HNK?BG:GLNEMLG>@:MBO>ERBFI:=


18-E?5:?1>B5/12>;9@45>0<->@E?1>B5/1<>;B501>?/;A801D<;?1A?@;85-.585@E4->9;A>>1
/;9<1@5@5B1:1??-:0-0B1>?18E59<-/@;A>25:-:/5-8>1?A8@?
!KHFMBF>MHMBF>P>F:RK>ERHG:LBG@E>HKEBFBM>=GNF;>KH?LNIIEB>KLHKNIHGLNIIEB>KLBG:LBG@E>
IKHOBLBHGH?L>KOB<>L:G=F:M>KB:ELMA:MP>NL>BGMA>HI>K:MBHGH?HNK;NLBG>LL:G=IKH=NLMHL:MBL?RHNKK>JNBK>F>GMLK:MBHGLHKF:D>BMFHK>=B??BF>GMHNK
LMK:M>@R$?:GRH?MA>L>LBMN:MBHGLP>K>MHH<INM:MBHGA:KF>=P>LN;C>KE:PLK>E:MBG@MHIKBO:KM:BGCNKBL=BLNEMLG>@:MBO>ERBFI:=
,1->15:B1?@5:35:>1?;A>/1?@;A<0-@1-:059<>;B1;A>5:2;>9-@5;:@1/4:;8;3E?E?@19?@;0535@5F1A@;01?7-:0?A<<;>@;A>
/A?@;91>?(4;A80;A>5:B1?@91:@?:;@?A//110;>52018-E?;>;@41>5??A1?C5@4:1C;>1D5?@5:35:2;>9-@5;:@1/4:;8;3E?E?@19?
05?>A<@;A>;<1>-@5;:?;A>.A?5:1??/;A80.14->910
2>K>ERHGHNKG>MPHKD:G==:M:<>GM>KBG?K:LMKNM>FL:G=P>;LBM>L?HKHNK=>O>EHIF>GMF:KD>MBG@
HI>K:MBHG:ELNIIHKML:E>L:<IHKMBG@:L2>LMK>LHNK<>LMHNI=:M>:G=BFIKHO>
MA>L>LRLM>FLMHF>>MMA>>OHEOBG@K>JNBK>F>GMLH?HNK;NLBG>LL:G=KL$GI:KMB=
IKH=NLLFH=>EBGOHEO>LK:;E>BGO>LMF>GMBGMA>=>O>EHIF>GMH?M>L:LP>EE
:L;:LRLM>FL?HKM>:G=L:E>LK>LHNK<>L.NF>GML:K>H?M>GQF>GML<:G;>G@BG@MHBGM>@K:M>PBMAHNK>QBLMBG@M>FLHK
F:RNGKIKH;E>FLPBMAMAHL>LRLM>FL0GLN<<>LL?NEBFIE>F>GM:MBHGH?A:K=P:K>HKLH?MP:K>NI=:M>L:G=BFIKHO>F>GML
LNEMBG=BLKNIMBHGBGHNK;NLBG>LLHI>K:MBHGLEHLLH?KLEHLLH?K>O>GN>>KKHKLBGHNK:<IHKMBG@HK=:F:@>MHHNKK>INM:MBHG:EEH?PABLL
$A>?;2@C->1?;8A@5;:?->145348E/;9<81D-:09-E/;:@-5:A:01@1/@101>>;>?0121/@?;>BA8:1>-.585@51?-:0->1?A.61/@@;
?1>B5/105?>A<@5;:?013>-0-@5;:?;A@-31?;>;@41><1>2;>9-:/1<>;.819?1-/4;2C45/4/;A804->9;A>.A?5:1??-:0
25:-:/5-8<1>2;>9-:/1
/A>LH?MP:K>LHENMBHGLMA:MP>H??>K:K>Q:G==>LIBM>>QM>GLBO>M>LMBG@:G=JN:EBMRKKHKL
=>?>K:;BEBMB>L.HF>>KKHKL=>?>K:;BEBMB>LBGHNKLH?MP:K>LHENMBHGLF:RHGER;>=BLK>=:?M>KMA>R
A:O>;>>GK>E>:L>=$G:==BMBHGP>A:O>>QI>KB>G<>=:G=F:RBGMA>?NMNK>>QI>KB>G<>L>KOB<>=BLKNIMBHGL=>@K:=:MBHGL
HNM:@>L:G=HMA>KI>K?HKF:G<>IKH;E>FLBGLHENMBHGL
GR>KKHKL=>?>K:;BEBMB>LL>KOB<>=BLKNIMBHGL=>@K:=:MBHGLHNM:@>LHKHMA>KI>K?HKF:G<>IKH;E>FLLNEM
BGMA>G>>=?HKK>E>:L>LMHHNKLH?MP:K>LHENMBHGL=:F:@>MHHNKK>INM:MBHG=:F:@>MHHNKKL^;NLBG>LL>L
EHLLH?K>O>GN>:GBG:L>BGLN;LEE:MBHGLHKE:M:<<>IM:G<>H?HNKH??>KBG@L:GRH?PABERA:KFHNK;NLBG>LL:G=?BG:GK?HKF:G<>
2C10;:;@9-5:@-5:3;;0>18-@5;:?45?;2;A>05?@>5.A@5;:/4-::18;>52;A>05?@>5.A@5;:/4-::18?A221>?
25:-:/5-88;??1?.1/;91?25:-:/5-88EA:?@-.81;>5:?;8B1:@;>5?:;@<>;B5010@41>534@95D;25:/1:@5B1?@;?188;A>
?A.?/>5<@5;:?;A>-.585@E@;31:1>-@1>1B1:A1C588.1-0B1>?18E-221/@10
2>L>EEHNKLH?MP:K>IKH=NG=NL>KL:G=MAKHN@A:G>MPHKDH?=BLMKB;NMHKL:G=K>L>EE>KL!HK?BL<:E
:G=:IIKHQBF:M>ER:G=K>LI>ERH?HNKK>O>GN>P:L=>KBO>=?KHFBG=BK>EL:E>LMAKHN@A
=BLMKB;NMHKL:G=K>L>EE>KL:G=P>>QI>F:CHKBMRH?HNKK>O>GN>PBEEMH;>=>KBO>=?KHFBG=BK>EL:E>L
BGMA>G>:K?NMNK>*NK:;BEBMRMH>??>ER=BLMKB;NM>HNKLHENMBHGL=>I>G=LBGI:KMNIHGMA>?BG:GLLL>EE>KG>MPHKDHFINM>KLH?MP:K>=BLMKB;NMHKL:G=K>L>EE>KLMRIB<:EER:K>GHMAB@AER<:IBM:EBS>=:G=A:O>
IK>OBHNLER>QI>KB>G<>==B??BL=NKBG@MBF>LH?>EE:L=NKBG@MA>I:LML>O>K:ER>:KL2>A:O>
IKH<>LL>LMH>GLNK>MA:MP>:LL>LLMA>=BMPHKMABG>LLH?=BLMKB;NMHKL:G=K>L>EE>KLIKBHKMHHNKL:E>LMHMA>F$GMA>I:LMP>
A:O>M:D>GLM>ILMHLNIIHKMMA>F:G=F:RM:D>:==BMBHG:ELM>ILBGMA>?NMNK>LNQM>G=BG@=BMM>KFL:G=:=CNLMBG@HNK
BG<>GMBO>L/A>L>LM>ILB?M:D>GLNEML$?HNK=BLMKB;NMHKL:G=K>L>EE>KLP>K>MH;>BGLHEO>GM
MA>RPHNE=GHM;>:;E>MHF:BGM:BGMA>BK;NLBG>LL:G=L:E>LHKIKHOB=>KLNIIHKML>KOB<>LPAB@:MBO>ER
BFI:LL:G=K>O>GN>
2>K>ERLB@GB?B<:GMERNIHGF:CHK=BLMKB;NMHKL:G=K>L>EE>KLBG;HMAMA>0.:G=BGM>KG:MBHG:EK>@BHGL*?HNK=BLMKB;NMHKL
/.RGG>Q:<=?HK:G=H?HNKMHM:EG>MK>O>GN>?HK?BL<:E:G=K>LI>ER:G=$G@K:F(B=?HK:G=H?HNKMHM:EG>MK>O>GN>?HK?BL<:E:G=K>LI>ERNKBG@*KP>>GM>K>=BGMH


:MK:GLBMBHG:@K>>F>GMLPBMA>:Q:G=$G@K:F(BMK:GLBMBHG=BLMKB;NMBHG:L?HK:HG>
MH
MPH
R>:KI>KBH=PBMAIHM>GMB:E>QM>GLBHGL$G>F>GMLP>BGM>G=MHBG:L>HNKL>EEBG@>??HKML
PBMAO:EN>
:==>=K>L>EE>KL:G=:@>GMLNKBG@MA>MK:GLBMBHGI>KBH=P>;>EB>O>MA>K>L>EE>KL:G=>G=NL>KLPAHGMER
INKHNKIKH=NQ:G=$G@K:F(B:;E>MHMH=HLH:G=?HEEHPBG@MA>MK:GLBMBHG
I>KBH=P>;>EB>O>LNG=NL>KLPBEE;>:;E>MHMHINKHNKIKH=NKM:BGO:EN>
:==>=K>L>EE>KLHK
=BK>LDBG>:NG=>KLN;LM:GMB:EERMA>L:F>M>KFL:G=PBMAHNMLN;LM:GMB:E=BLKNIMBHGMHHNKK>O>GN>
#HP>O>KB?=NKBG@MA>MK:GLBMBHGI>KBH=/.RGG>QHK$G@K:F(BK>MH>QI>KB>G<>:LB@GB?B<:GM;NLBG>LL=BLKNIMBHGHKB?
HNKK>E:MBHGLABIPBMA>BMA>KP>K>MHLB@GB?B<:GMER=>M>KBHK:M>BMBLIHLLB;E>MA:MHNK:;BEBMRMHL>EEMH>G=NL>KLPHNE=:ME>:LM
M>FIHK:KBER;>G>@:MBO>ERBFI:=ELHB?:GRH?HNK:LLNFIMBHGL:;HNMHNK>G=NL>KLO:EN>:==>=K>L>EE>KL=BLMKB;NMHKLHK
:@>GMLHKHNK=BK>EEBG@<:I:;BEBMB>LIKHO>LBGL>LLL/ABL@:MBO>ER
BFI:LNEML
*O>KMBF>P>A:O>FH=B?B>=:G=>LI>MK:GLBMBHGIKH<>LLGHM>=:;HO>PBEEMHFH=B?R:LI>E:MBHGLABIPBMAHNK=BLMKB;NMHKL:G=K>L>EE>KLLNBKBG<>GMBO>IKH@K:FLIKBF:G=HNK=BLMKB;NMBHGFH=>E
MHFHMBO:M>:G=K>P:K=MA>F?HK:EB@GBG@MA>BK;NLBG>LL>LPBMAHNKLMK:M>@R:G=;NLBG>LLH;C>LA:G@>LBGMA>L>
K>E:MBHGLABIL:G=NG=>KERBG@IKH@K:FL@:MBO>ERBFI:BK;NLBG>LL:G=A:KFHNK;NLBG>LL!NKMA>KHNK=BLMKB;NMHKL
:G=K>L>EE>KLF:REHL>G<>BGHNK;NLBG>LLFHO>MHMBMBO>IKH=NMA>LDBEELHK:;BEBMRMHLNIIHKM
KL/A>EHLLH?HK:LB@GB?B<:GMK>=NLLPBMAMAHL>=BLMKB;NMHKLHKK>L>EE>KLLL$G
I:KMBHKFHK>H?LNL>EE>KLP>K>NG:;E>MHF>>MMA>BKH;EB@:MBHGLPBMAK>LI>
MHNLP>?HK<>=MHPKBM>H??LNK>JNBK>=MH=>E:RMA>K>O>GN>HG?NMNK>L:E>LMH
MA>L>KL/A>L>>O>GML:F:M>KB:E:=O>KL>>??>LNEML
,1>18E;:?;2@C->12>;9@45>0<->@51?-:0-2-58A>1@;<>;<1>8E9-:-31;A>A?1;2@45>0<->@E?;2@C->1/;A80>1?A8@5:
5:/>1-?10/;?@?;>8;??;2>1B1:A1
(:GRH?HNKIKH=N=>LB@G>=MHBGLH?MP:K>EB<>GL>=?KHFMABK=I:KMB>L.NBGL
LH?MP:K>EB<>GL>=?KHFKKL:G=NG=>KIN;EB<HI>GLHNK<>EB<>GL>L2ABE>P>A:O>BGM>KG:EIKH<>LL>LMH
F:G:@>HNKNL>H?LNB?LNLL>L:K>BG:=>JN:M>P>F:R;>LN;C>F>GMHK
HMA>KMABK=
I:KMR:K>GHG
GL>?HKKP>F:R;>K>JNBK>=MHI:RI>G:EMB>L
HKNG=>K@HEB<>GL>:@K>>F>GM$GMA><:L>H?HI>G
LHNK<>LH?MP:K>EB<>GL>=NG=>K<>KM:BG
[?M\EB<>GL>LMA>EB<>GL>BML>E?HK:=K>F>=R?HKGHG
H?MA>HI>GLHNK<>LH?MP:K>F:R
K>JNBK>MA:MIKHIKB>M:KRIHKMBHGLH?HNKHPGLH?MP:K>;>IN;EB=HKEB<>GL>=/ABLLNEMBG:EHLLH?BGM>EE>KMRKB@AMLBG:L>=
>G@BG>>KBG@H?HNKLH?MP:K>=:F:@>MHHNKK>INM:MBHGHKEHLLH?K>O>GN>
$G:==BMBHGMHKBLDLK>E:M>=MHEB<>GL>K>JNBK>F>GMLNL:@>H?HI>GLHNK<>LH?MP:K><:GE>:=MH@K>:M>KKBLDLMA:GNL>H?
MABK=
I:KMRK:LHI>GLHNK<>EB<>GLHKL@>G>K:EER=HGHMIKHOB=>P:KK:GMB>LLNIIHKMBG=>FGBMB>L:LLNK:G<>L
H?MBME>HKLH?MP:K>HKHMA>K@:K=BG@BG?KBG@>F>GMJN:EBMRH?MA>
'BD>PBL>LHF>HI>GLHNK<>IKHC>DGHPGL>KONEG>K:;BEBMB>L:G=:KLHK:K>
HMA>KPBL>LN;C>MHMA>BKPB=>:O:BE:;BEBMR:G=:K>IKHOB=>=HG:G[:L
BL\;:LBL
$A>.A?5:1??/;A80.1-0B1>?18E-221/@1052C1->1A:-.81@;-@@>-/@-:0>1@-5:71E<1>?;::18
*NKLN<<>LL:G=:;BEBMRMHBGO>LM:G=@KHP=>I>G=E:K@>ERHGHNK:;BEBMRMH:MMK:M:BGAB@AERLDBEE>=M>LLBHG:EF:G:@>KB:EL:E>L:G=F:KD>MBG@I>KLHGG>E#BLMHKB<:EERMBMBHG?HKMA>L>D>RI>KLHGG>EA:L;>>GBGM>GL>
/A>EHLLH?L>KOB<>LH?:GRH?HNKD>RI>KLHGG>EBGRI>KLHGG>ECHBGBG@HNKM:BG:G=:MMK:=>FIEHR>>LBGMA>?NMNK>HK=>E:RLBGABKBG@K>JNBK>=I>KLHGG>EI:KMBG@BG>>KBG@:G=L:E>L
I>KLHGG>EBM=B??B>MD>RH;C>LLNER:G=>??>IKH=N18E;:@45>0<->@E@1/4:;8;351?-:052C1->1A:-.81@;A?1;>5:@13>-@1@41?1@1/4:;8;351?;A>?;8A@5;:?-:0?1>B5/1
01B18;<91:@9-E.1018-E10-:0;A>25:-:/5-8>1?A8@?:13-@5B18E59<-/@10
2>K>ERHG<>KM:BGLH?MP:K>MA:MP>EB<>GL>?KHFMABK=I:KMB>LBGMA:MBLBGM>@K:M>=PBMABGM>KG:EER
=>O>EHI>=LH?MP:K>:G=NL>=BGHNKH??>KBG@LMHI>K?HKFD>R?NGL>MABK=
I:KMRLH?MP:K>EB<>GL>LF:RGHMMH
;>:O:BE:;E>HGK:LHG:;E>M>KFL:G=MA>LH?MP:K>F:RGHM;>:IIKHIKB:M>ERLNIIHKM>=F:BGM:BG>=HK>GA:G<>=
;RMA>EB<>GLHKL/A>EHLLH?EB<>GL>LMHHKBG:;BEBMRMHLNIIHKMF:BGM:BG:G=>GA:G<>:GRLNLNEMBG


BG:L>=E:RLNGMBE>JNBO:E>GMLH?MP:K><:G;>=>O>EHI>=B=>GMB?B>=EB<>GL>=:G=BGM>@K:M>=PABER
A:KFHNK;NLBG>LL
5?>A<@5;:?5:85/1:?5:3>18-@5;:?450<->@E01B18;<1>?/;A80-0B1>?18E59<-/@;A>.A?5:1??
2>EB<>GL><>KM:BGD>RM>L?KHFMABK=I:KMB>L'B<>GL>LF:R;>K>LMKB=BGMA>M>KFHKMA>NL>H?LN@:MBO>ER:??>LL.BFBE:KERP>F:RGHM;>:;E>MHH;M:BGHKK>G>PEB<>GL>:@K>>F>GML?HK
D>RM>M>KFLB?:M:EE:G=:GR?:BENK>MH=HLHLL*NK;NLBG>LLLMK:M>@RA:L
ABLMHKB<:EER=>I>G=>=BGI:KMHGHNKK>E:MBHGLABILPBMAMABK=
I:KMR=>O>EHI>KLPAHIKHOB=>IKH=NQI:G=MA>
?NGLB@GLH?MP:K>.HF>=>O>EHI>KLF:R>E>KIKH=NQI>KB>G<>=BLKNIMBHGBG
IKH=NO>EHIF>GM:G==>EBO>KRLHK?BG:GLLNK>=NKBG@I>KBH=LH?>ML
LNBGMA>I:LM:G=PHNE=EBD>ERBGMA>?NMNK>G>@:MBO>ERBFI:L>MABK=
I:KMR=>O>EHI>KL:G=>G=NL>KL
PABLL
/>:M>=;RHNMLHNK<>=IKH=NO>EHIF>GMPA>MA>KHNMLHNK<>=MHMABK=I:KMB>LHK=>O>EHI>=>QM>KG:EER:G=
MK:GL?>KK>=MHNLMAKHN@A;NLBG>LLHKM>L:==BMBHG:EKBLDLLN??>BGM>@K:MBHGBGMH>QBLMBG@
IKH=NJN:M>MK:GL?>KH?M>KLABI:G=IKHM>KK>=BGM>EE>KMR
'5?7?'18-@5:3@;!-C?-:0'13A8-@5;:?
:/>1-?5:3>13A8-@;>E2;/A?;:<>5B-/E0-@-<>;@1/@5;:-:05:2;>9-@5;:?1/A>5@E5??A1?-:0:1C-:01D<-:05:38-C?9-E
59<-/@;A>.A?5:1??-:01D<;?1A?@;5:/>1-?1085-.585@E
*NKLMK:M>@RMH=B@BMBS>NMH=>LDBGOHEO>LBG:LBG@HNKNL>H?;
;:L>=M>L:G=:IIEB<:MBHGLMH
E>O>K:@>K=:M:MHBFIKHO>HNKH??>KBG@L?HKMA>;>G>?BMH?HNKKL/H:<@RP>FNLMKPBL>IKH<>LLK=:M:PABI>KLHG:E=:M::G=I>KLHG:EBG?HKF:MBHGH?NL>KL?KHF=B??>K>GM
CNKBL=B:ELHKPBL>IKH<>LLI>KLHG:E=:M::G=I>KLHG:EBG?HKF:MBHGH?HNK>FIEHR>>L:G=
LNEM?>=>K:ELM:M>:G=@EH;:EE:PLK>E:MBG@MHIKBO:LD^LI>KLHG:E=:M::G=I>KLHG:EBG?HKF:MBHGIKH<>LLBG@:L/A>LH?MA>L>E:PL:G=K>@NE:MBHGLBLK:IB=ER
>OHEOBG@LN;C>KBG@BGM>KIK>M:MBHGLF:R;>BGGM:FHG@CNKBL=BKKNE>L:G=BLEBD>ER
MHK>F:BGNG<>KM:BG?HKMA>?HK>L>>:;E>?NMNK>2>:ELH>QI>K>PBEEMH;>G>PE:PLK>@NE:MBHGL:G=BG=NLMKR
LM:G=:K=LKGBG@IKBO:=:G=>G:=BGO:KBHNLCNKBL=B">G>K:E:M:+KHM>@NE:MBHG 0	["+-\	BGMA> NKHI>:G0GBHG[ 0\	:G=MA>+>KLHG:E
$G?HKF:MBHG+KHM>;>>G>G:=:G=GNF>KHNLHMA>KLA:O>IKHIHL>=HKA:O>>G:=
E:PLKGBG@IKBO:P:G=>F>K@BG@LM:M>E:PLBGMA>0GBM>=
.M:M>L@HO>KGBG@IKBO::EB?HKGB:HGLNF>K+KBO::EB?HKGB:+KBO:KHNLE:PLBGHMA>KLM:M>LF:GRH?PAB?HKH;EB@:MBHGLLBFBE:K
MHMA>+:G=+-A:O>;>>G>G:=/A>L>E:PL:G=K>@NE:MBHGL:LP>EE:LBG=NLMKRL>E?
K>@NE:MHKRLBG=NLMKR
LM:G=:K=L:G=HMA>K:KM>=H;EB@:MBHGLMHPAB:K>HKF:R;>:LL>KM>=MH;>LN;C>:M>G>P
H;EB@:MBHGL:G=LN;LM:GMB:EER>QI:G=MA>LH?IHM>GMB:EEB:;BEBMR:G=IKHOB=>@K>:M>KI>G:EMB>L?HKGHG
!HK
>Q:FIE>MA>"+-IKHOB=>L?HKI>G:EMB>LH?NIMH_FBEEBHGHKH?:O>GN>PABO>KBL
@K>:M>KMA>+$+'IKHOB=>L?HKI>G:EMB>LH?NIMHFBEEBHGK>GFBG;BHKH?:O>GN>:G==BL@HK@>F>GMH?
:EEBEE>@:E@:BGLPABO>KBL@K>:M>K:G=MA>+IKHOB=>L?HKI>G:EMB>LH?NIMHI>KOBHE:MBHG/A>L>E:PL
K>@NE:MBHGL:G=LF:R:ELHBFI:LL=KBO>KLBG=>O>EHIBG@G>P:G=>F>K@BG@M>L>@
$:G=F:E>:KGBG@	/A>L>K>JNBK>F>GML:FHG@HMA>KLF:RBFI:F:G=?HKHNKH??>KBG@L:G=?HK<>NLMH;>:KMA>
;NK=>GH?>QI:G=>=H;EB@:MBHGLBGHNKK>BL=BGLM:;BEBMRH?BGM>KG:MBHG:EI>KLHG:E=:M:MK:GL?>KE>@:EF>Q
NG<>KM:BG:G=LN;C>EBMB@:MBHG:G=>G?HK<>F>GM:KH?CNKBL=BPHKE=!HK>Q:FIE>
HG%NG>MA> NKHI>:GHFFBLLBHGIN;EBLA>=:G>PL>MH?FH=NE:KLM:G=:K=[.L\	IKHOB=BG@?HK
:G
FHGMABFIE>F>GM:MBHGI>KBH=PAB<:F>>??>HG%NG>:G=BFIHL>LHGLH;EB@:MBHGLK>E:MBG@
MHI>KLHG:E=:M:MK:GL?>KLBGH;EB@:MBHGMHKBFI:LLF>GM:G==>I>G=BG@HG:I:KMR^LKHE>BG
MA>MK:GL?>KMHBFIE>F>GM:==BMBHG:EL>:LNK>L:G=MHNI=:M>BGM>KG:EIKBO:L2>F:RBG:==BMBHGMHHMA>K
BFI:K>JNBK>=MH>QI>G=LB@GB?B<:GMMBF>:G=K>LHNK<>LMHNI=:M>HNKF>GML:G=MHP
H;EB@:MBHGL:G=P>?:<>>QIHLNK>MHK>@NE:MHKR:L:G=BGCNGKLH?
I>KLHG:E=:M:?KHFMA> 0


$G:==BMBHGMA>0GBM>=&BG@=HF^L[0&\	>QBM?KHFMA> 0:G=HG@HBG@=>O>EHIF>GMLBGMA>0&A:O>:M>=
NG<>KM:BGMRPBMAK>@:K=MH=:M:IKHM>@NE:MBHGBGMA>0&:M:IKH<>LLBG@BGMA>0&BLGHP@HO>KG>=;RMA>0&">G>K:E
:M:+KHM>@NE:MBHG:G=LNIIE>F>GM>=;RHMA>K=HF>LMB<=:M:IKHM>0&:M:+KHM>L?BG>LH?NIMHVFBEEBHGHKH?:GGN:E@EH;:EK>O>GN>PABO>KBLAB@A>K2>:K>:ELH>QIHL>=
MHIHM>GMB:EER=BO>K@>GM>G?HK<>F>GM:KM:BGOBHE:MBHGL!NKMA>KFHK>MA>G>P.L:IIERHGERMHMA>MK:GL?>KH?
I>KLHG:E=:M:HNMLB=>MA> 0:G=GHMMA>0&EMAHN@AMA> NKHI>:GHFFBLLBHG:=HIM>=:G:=>JN:0&HG
%NG>:EEHPBG@MA>=?EHPH?I>KLHG:E=:M:?KHFMA> 0MHMA>0&MABL=>K>@NE:KERK>OB>P>=
@HBG@?HKP:K=:G=F:R;>K>OHD>=B?MA>0&=BO>K@>L?KHFBMLGM:=>JN:M>=:M:IKHM>QBM?KHFMA>
 0*G!>;KN:KRMA>0&^L$G?HKF:MBHGHFFBLLBHG>K^L*??B<>BLLN>=G>PLM:G=:K=LMHLNIIHKM
I>KLHG:E=:M:MK:GL?>KLHNMH?MA>0&[0&.L\	PAB<:F>>??>(:KF:RBG:==BMBHGMHHMA>K
BFI:QI>KB>G<>:==BMBHG:E=PBMABG:L>=;NK=>GL:G=;>K>JNBK>=MH>G@:@>BGG>P@HMB:MBHGLPBMAMABK=I:KMB>LMA:M:B=BGIKH<>LLBG@I>KLHG:E=:M:HGHNK;>A:E?HKEH<:EBS><>KM:BGI>KLHG:E=:M:*G(:K0GBM>=.M:M>L:G= 0:GGHNG<>=:G[:@K>>F>GMBGIKBG\MHK>IE:<>MA> 0
0.+KBO:E=MK:GL?>K
?K:F>PHKDPBMAMA>/K:GL
ME:GMB<:M:+KBO:PHKD[ 0
0.+!\	*G%NERMA> NKHI>:GHFFBLLBHG
:=HIM>=:G:=>JN:E:MBHGMHMA> 0
0.+!:EEHPBG@MA> 0
0.+!MH;>NMBEBS>=:L:F>:GLH?
E>@BMBFBSBG@ 0
0.I>KLHG:E=:M:MK:GL?>KL?HKI:KMBGMBMB>L2>:K>>O:EN:MBG@PA>MA>KMA> 0
0.+!PBEE;>
:IIKHIKB:M>?HKNLMHNMBEBS>/A> 0
0.+!F:R;>LN;C>@:EG@>L?KHFIKBO:KL:G=
MA> NKHI>:GHFFBLLBHG^L:=>JN:@:K=BG@MA> 0
0.+!IKHOB=>LMA:MMA> 0
0.+!PBEE;>LN;C>K>OB>PL:G=F:R;>LN;C>GLBHG:F>G=F>GMK>I>:EHKEBFBM:MBHGLMHBMLL;RMA> NKHI>:GHFFBLLBHG
!NKMA>KL>O>K:E NKHI>:G=:M:IKHM>LK><>GMERBG=B<:M>=MA:MMA>NL>H?"HH@E>G:ERMB:G
P>;LBM>HI>K:MHKLBGOHEO>LMA>NGE:P?NEMK:GL?>KH?I>KLHG:E=:M:MHMA>0GBM>=.M:M>LLMA>>G?HK<>F>GME:G=L<:I>?NKMA>K
=>O>EHIL:G==>I>G=BG@HGMA>BFI:L>KNEBG@L:G=HMA>K=>O>EHIF>GMLPBMAK>LI>K=:M:MK:GL?>KP>
K:==BMBHG:E@NE:MHKRBGO>LMB@:MBHGLHK?BG>LA:O>MHLMHINLBG@<>KM:BGMHHEL:G=O>G=HKL
:G=F:D>HMA>KHI>K:MBHG:EL
.>O>K:EHMA>KLBGP5>:E:G=K:SBE:G=%:I:GA:O>:ELH>LM:;EBLA>=LI>@:E
K>JNBK>F>GML?HKK=:M:MK:GL?>KL/A>K>BL:ELH:GBG:LBG@MK>G=MHP:K=L=:M:EH<:EBS:MBHGIHEBL!HK>Q:FIE>
BGABG:BGMKH=N<>=EH<:EBS:MBHGK>JNBK>F>GML?HK<>KM:BG=:M:*MA>KLLNKBG@=:M:
EH<:EBS:MBHGK>JNBK>F>GML$?MABLMK>G=L:G=LBFIE>F>GMFHK>K>LMKBK>@NE:MBHGL?HKKI>KLHG:E
=:M:MK:GL?>KLHK=HGHMI>KFBMI>KLHG:E=:M:MHE>:O>MA>F:GG>KBGPABIKHOB=>HNK
L>KOB<>LMA>@>H@K:IAB<:EEH<:MBHGHKL>@K>@:MBHGH?HNKK>E>O:GMLRLM>FL:G=HI>K:MBHGL:G=HNK;NLBG>LL?BG:GLNEMLH?HI>K:MBHGLBGMAHL>CNKBL=BBFI:=
$G:==BMBHGMA>+-:G=F:GRH?MA>HMA>KG>PLM:M>E:PL:==K>LLBG@IKBO:
MA:MA:O>;>HKPBEE;>>??>BGIKHOB=>?HK:==BMBHG:EH;EB@:MBHGLLN
EBFBM:MBHGL@K:GMBG@:==BMBHG:EKB@AMLMHKLLNKLHG:EBG?HKF:MBHG:G=:==BMBHG:EHIM
HNMKB@AML/A>
+-:ELH:M>=:G>P:@>GF>GM:G=>G?HK<>MA>E:P/A>L>G>PLM:M>E:PLA:O>K>JNBK>=NLMHFH=B?RHNK=:M:
IKH<>LLBG@IK:L:G=IHEBL:G=F:R<:NL>NLMHF:D>:==BMBHG:EFH=B?B<:MBHGL:G=MHBGQI>GL>LBGHNK>??HKMLMHL:G=LHF>H?HNKJNBK>NLMHIKHOB=>GHMB<>NG=>K<>KM:BG
LMHKLPAHL>I>KLHG:EBG?HKF:MBHGA:L;>>G=BL=:L:K>LNEMH?:=:M:;K>:LP>
PHKDPBMALNKLOBHE:M>:IIEB<:;E>=:M:IKHM>@NE:MBHGLLNKL^
BG?HKF:MBHG:MKBLD:G=KB:EER:=O>KL>ER:??>LL?BG:GLNEMLH?HI>K:MBHGL:G=IKHLI>KGF>GM:KBG=NLMKB>L:K>KBG@
O:KBHNLG>P:==BMBHG:EHK=B??>K>GML>E?
K>@NE:MHKRLM:G=:K=LMA:MF:RIE:<>HK;>:LL>KM>=MHIE:<>:==BMBHG:E;NK=>GLHGNL
 OHEOBG@E>@BLE:MBHG:G=MA>BGM>KIE:RH??>=>K:E:G=LM:M>E:PLF:R;>LN;C>KIK>M:MBHGL;RKGF>GM:@>GL:MBG@QBLLN>L:G=A:O>:G=F:R<:NL>O:KB:MBHGBGK>JNBK>F>GMLBG:L>
K>LMKBGMB:EE>@:EKBLD:G=BFI:@B>L:G=MA>:O:BE:;BEBMRH?IK>OBHNLERNL>?NE=:M:IHM>GMB:EER>QIHLBG@NL
MH:==BMBHG:E>QI>GL>:=O>KL>IN;EB 0:G=MA>0&K>@NE:MHKL:K>BG:LBG@ER?HPBMAK>JNBK>F>GMLBGMA>HGEBG>;>A:OBHK:E
:=O>KMBLBG@>F:G=GMG:MBHG:EE:PLMA:MBFIE>F>GMMA>>+KBO::K>EBD>ERMH;>K>IE:<>=;R:G 0
K>@NE:MBHGDGHPG:LMA>>+KBO:@NE:MBHGPABQI>=MHLB@GB?B<:GMERBG:L>?BG>L?HKGHG
2ABE>MA>
M>QMH?MA>>+KBO:@NE:MBHGBLNG=>K=>O>EHIF>GMK><>GM NKHI>:G<:L>E:P:G=K>@NE:MHKL^K><>GM@NB=:G<>:K>=KBOBG@
BG:L>=:MM>GMBHGMHL:G=MK:L/ABL:=MHLN;LM:GMB:EJNBK>LB@GB?B<:GMLRLM>F
LEBFBMMA>>??>G>LLH?HNKF:KD>MBG@:L=BO>KMMA>:MM>GMBHGH?HNKM>KLHGG>E:=O>KL>ER:??>:L>L->@NE:MBHGH?L:G=LBFBE:KM>L:G=:GR
=>H?LHKLBFBE:KHGEBG>MK:L:L:F>:GLMHB=>GMB?R:G=IHM>GMB:EERM:K@>MNL>KLF:RE>:=MH
;KH:=>KK>LMKBGMLHGHNKF:KD>MBG@:G=I>KLHG:EBS:MBHG:L:G=F:RG>@:MBO>ERBFI:??HKMLMH
NG=>KLM:G=HNKKL


"HO>KGF>GMLK>@NE:MHKLIE:BGMB??L^:MMHKG>RLIKBO:LA:O>BG:L>=MA>BK?HLLLNL>LMHK>LA:K>:G=MK:GLFBMI>KLHG:E=:M::G=I>KLHG:EBG?HKF:MBHGGRI>K<>IMBHGH?HNKIK:LIKH=NKBG@LHKL>KOB<>L:L:OBHE:MBHGH?BG=BOB=N:EIKBO:INM:MBHG:EA:KFHKBGO>LMB@:MBHGLF:G=LHKHMA>KIKH<>>=BG@L;RK>@NE:MHKLBG=NLMKR@KHNILHKHMA>KMABK=I:KMB>L
:EEH?PABKL>ERBFI:LL:G=>QIHL>NLMHBG:L>=EB:;BEBMR(HK>HO>K;><:NL>MA>
BGM>KIK>M:MBHG:G=:IIEB<:MBHGH?F:GRE:PLK>@NE:MBHGL:G=HMA>K:KM>=H;EB@:MBHGLK>E:MBG@MHIKBO:NG<>KM:BGBMBLIHLLB;E>MA:MMA>L>E:PLK>@NE:MBHGL:G=H;EB@:MBHGLF:R;>BGM>KIK>M>=
:G=:IIEB>=BG:F:GG>KMA:MBLBGGMPBMAHNK>QBLMBG@=:M:F:G:@>F>GMIK:LHKMA>?>:MNK>LH?HNKIKH=NKBG@L:G=L>KOB<>L2>K>JNBK>=MH?NG=:F>GM:EERHNK;NLBG>LL:L:G=IK:LHKFH=B?RHNK
H??>KBG@L:G=L>KOB<>L:GRH?PABJNBK>LB@GB?B<:GM:==BMBHG:E>QI>GL>:G=:=O>KL>ER:??>LLBG=>E:RBG@HNK=>O>EHIF>GMKH:=F:I:G=:=O>KL>ER:??>E:MBHGLABILPBMAKL
:G=HNK:;BEBMRMHM>$?P>:K>H;EB@:M>=MH?NG=:F>GM:EERHNK;NLBG>LL:L:G=IK:LHKFH=B?RHNK
IKH=NKBG@LHKL>KOB<>LP>F:R;>NG:;E>MHF:D>LNL:G=FH=B?B<:MBHGLBG:K:LHG:;E>
F:GG>KHK:M:EE:G=HNK:;BEBMRMH=>O>EHIG>PIKH=NKBG@L:G=L>KOB<>LEBFBM>=
,1->1?A.61/@@;3;B1>:91:@-81D<;>@-:059<;>@/;:@>;8?@4-@/;A8059<-5>;A>-.585@E@;/;9<1@15:5:@1>:-@5;:-89->71@?;>
?A.61/@A?@;85-.585@E52C1B5;8-@1@41/;:@>;8?
*NKH??>KBG@L:K>LN;C>QIHKM@NE:MBHGLMA:MIKHAB;BMMA>=>EBO>KRH?
<>KM:BGLHENMBHGL:G=L>KOB<>LPBMAHNMMA>K>JNBK>=>QIHKM:NMAHKBS:MBHGLHK>QIHKMMHEH<:MBHGL@HO>KGF>GML:G=I>KLHGL
M:K@>M>=;R:IIEB<:;E>L:GP>A:O>IKH<>LL>LMHIK>O>GMHNKH??>KBG@L?KHF;>BG@>QIHKM>=BGOBHE:MBHGH?MA>L>
E:PLBG:G=L>GBG@:@:BGLM0.@HO>KGF>GM:G=BGM>KG:MBHG:EEBLMLH?
K>LMKB=:G=IKHAB;BM>=I>KLHGLP><:GGHM@N:K:GM>>MA:MMA>L>IKH<>LL>LPBEEIK>O>GM:EEOBHE:MBHGLH?>QIHKMEI:KMG>KL?:BEMHH;M:BG:IIKHIKB:M>BFIHKM>QIHKMHKK>
>QIHKMEB<>GL>LHKI>KFBMLP>F:R:ELH;>:=O>KL>ER
:??>=MAKHN@AK>INM:MBHG:EA:KF:LP>EE:LHMA>KG>@:MBO>JN>G<>LBGKGF>GMBGO>LMB@:MBHGL:G=I>G:EMB>L
2>IK>L>GMERBG>QIHKMK>JNBK>F>GMLBGHNKEI:KMG>K:@K>>F>GMLHFIERBG@
PBMA>QIHKM@NE:MBHGL?HK:I:KMBF:R;>MBF>
LNEMBGMA>=>E:RHKEHLLH?
L:E>LHIIHKMNGBMB>L1BHE:MBHGLH?:IIEB<:;E>L:GQIHKMLNEMBG?BG>LHKI>G:EMB>L
!HK:==BMBHG:EKBLDLK>@:K=BG@L:GIKHM>:L>L>>MA>KBLD?:GMBME>=[2>:K>=>I>G=>GMHG
BGM>KG:MBHG:EK>O>GN>:G=HI>K:MBHGL\>:KEB>KBGMABLL>1:;@-.81@;-01=A-@18E<>;@1/@;A><>;<>51@->E>534@?;A>.A?5:1??/;A80.14->910
2>K>ERHG:GMF:KDE:PLMK:=>L>MIKHM>GMB:EBMRIKH<>=NK>L
:G=M:KRKB@AML#HP>O>KMA>LM>ILP>M:D>MHIKHM>EE>KMR
KB@AMLF:R;>BG:=>JN:M>2ABE>P>A:O>I:M>GM:IIEB<:MBHGLI>G=BG@BGMA>0GBM>=.M:M>L:G=MAKHN@AHNMMA>PHKE=P>F:R;>
NG:;E>MHH;M:BGI:M>GMIKHM>M>K>=BGHNKI:M>GM:IIEB<:MBHGL$G:==BMBHG:GRI:M>GMLBLLN>=MHNLBG
MA>?NMNK>F:RGHMIKHOB=>NLPBMAMBMBO>:=O:GM:@>LHKF:R;>LN<<>LL?NEERG@>=;RMABK=I:KMB>L!NKMA>KFHK>
E>@:ELM:G=:K=LK>E:MBG@MHMA>O:EB=BMR>G?HK<>:;BEBMR:G=LH?IKHM>EE>KMRKB@AML:K>NG<>KM:BG
>LIBM>HNK>??HKMLMHIKHM>M:KRKB@AMLNG:NMAHKBS>=I:KMB>L?KHFMBF>MHMBF>A:O>=HKK>O>KL>>G@BG>>K>=
:LI>HKA:O>H;M:BG>=:G=NL>=BG?HKF:MBHGMA:MP>K>@:K=:LIKHIKB>M:KR+HEB=NL>H?HNK
LH?MP:K>BLMBF>
:K>NG:;E>MHF>:LNK>MA>>QM>GMMHPAB=NL>H?HNKLH?MP:K>>QBLML
:G=P>>QI>=NL>H?LH?MP:K>PBEEK>F:BG:I>KLBLM>GMIKH;E>FI:KMBF>K@BG@>L
==BMBHG:EERP>:ERIKHM>L>GMB:EBG?HKF:MBHG:G=MK:=>L>MLBG
$?NG:NMAHKBS>==BLH?HNKLHNK<>H<GMB:EEREHL>?NMNK>MK:=>L>MIKHM>
0G:NMAHKBS>==BLH?HNKLHNK<>BM>:LB>K?HKMABK=I:KMB>LMHM>PBMAHNKH??>KBG@L;R
KL>ER:??>K?HKF:G<>:G=HNKK>INM:MBHG2>:ELHL>>DMHIKHM>GMB:EBG?HKF:MBHG:G=MK:=>L>MLMAKHN@AMA>NL>H?GHG
=BL:@K>>F>GMLPBMAHNK>FIEHR>>LKL
G=HKL:G=I:KMG>KL#HP>O>KBMBLIHLLB;E>MA:MHNKGMB:EBG?HKF:MBHG:G=MK:=>L>MLF:R;>=BL=
HKIN;EBLA>=PBMAHNMHNK:NMAHKBS:MBHG$?MABLP>K>MHH<=B??BG?HK<>HNKKB@AML:G=
HNK?BG:GK?HKF:G<>:G=K>INM:MBHGG>@:MBO>ERBFI:=


,19-E2-/15:@1881/@A-8<>;<1>@E5:2>5:3191:@/8-59?@4-@/;A80.1/;?@8E@;0121:0-:0>1?A8@5:@418;??;2?53:525/-:@>534@?
*NKMBMHKL:LP>EE:L:GNF;>KH?HMA>K>GMBMB>L:G=BG=BOB=N:ELF:RHPGHKEE>KMR
K>E:MBG@MHHNK;NLBG>LL/ABK=I:KMB>LF:R:K>BG?KBG@BG@NIHGHKFBL:IIKHIKB:MBG@MA>BKBGM>EE>KMR
KB@AML:G=P>F:R;>?HNG=MH;>BG?KBG@BG@NIHGLNO>GB?P>:K>NG:P:K>H?MA>BGM>EE>KMRKB@AML=
:@:BGLMNLLFHK>LH?MP:K>I:M>GML:K>@K:GM>=PHKE=PB=>MA>GNF;>KH?H??>KBG@L:G=MBMHKLBGHNKBG=NLMKB>L@KHPL
:G=MA>?NGK>GMBG=NLMKB>LHO>KE:ILP>>QI>=>O>EHI>KLPBEE;>BG:LBG@ERLN;C>F>GMKM:BGI:M>GM:LL>KMBHG>GMBMB>LA:O>;>FHK>:@@K>LLBO>BGMAK>:M>GBG@:G=INKLNBG@
EBMB@:MBHGBG:MM>FIMLMHH;M:BG?>>L?HKEB<>GLBG@MA>KB@AMMHNL>I:M>GML
GR:MLH?BG?KBG@>F>GMHKFBL:IIKHIKB:MBHGPA>MA>KPBMAHKPBMAHNMF>KBMA:O>;>>G:G=
?NMNK>;>MBF>
?>G=K>LNEMBGKLBHGH?K>LHNK<>L<:NL>IKH=NE:RLK>JNBK>NLMH
HNKIKH=NLLIK:LIK>O>GMNL?KHFH??>KBG@HNKLH?MP:K>:G=L>KOB<>LHKK>JNBK>NLMH>GM>KBGMHKHR:EMR
HKEB<>GLBG@:@K>>F>GML$G:==BMBHGLNGL>:@K>>F>GMLB?K>JNBK>=F:RGHM;>:O:BE:;E>HG:<<>IM:;E>M>KFL
B?:M:EEPABERA:KFHNK;NLBG>LL2>F:R:ELH;>H;EB@:M>=MHBG=>FGB?RHNKKLHK;NLBG>LLI:KMG>KLHK
I:RLN;LM:GMB:EL>MME>F>GMGMLBGGL>LFH=B?R:IIEB<:MBHGLHKK>?NG=?>>LPABKFHK>?KHFMBF>MHMBF>P>F:RBGMKH=N<>HK
:G>PIKH=N:LPA>K>P>ABLMHKB<:EERA:O>GHMM>=PAB:L>HNK>QIHLNK>MHI:M>GM
:G=HMA>KBGM>EE>KMR-/@5:3C5@43;B1>:91:@1:@5@51?1D<;?1?A?@;-005@5;:-8>5?7?5:41>1:@5:@413;B1>:91:@<>;/A>191:@<>;/1??
2>IKHOB=>IKH=NKOB<>L=BK>MRH?@HO>KGF>GM>GMBMB>L-BLDL:LLH=PBMA
EB<>GLBG@:G=L>EEBG@IKH=NKOB<>LMH@HO>KGF>GM>GMBMB>LBG>QM>G=>=L:E>L:G=LO:KRBG@
@HO>KGF>GM:E;N=@>MBG@IKH<>LL>L:G=:=A>K>G<>MHQIKHF>GMK>@NE:MBHGL:G=HMA>K@HO>KGF>GM
LI>JNBK>F>GML2>F:R;>LN;C>LMB@:MBHGLK>E:MBG@MHHNK@HO>KGF>GMLNEMBGG:EMB>L:G=:=FBGBLMK:MBO>L:GKFBG:MBHGH?GM
H??BG>L:G=LNLI>GLBHGHK=>;:KF>GM?KHF?NMNK>@HO>KGF>GM;NLBG>LL:LP>EE:LA:KFMHHNKK>INM:MBHG:G=?BG:GLNEML
'5?7?'18-@5:3@;5:-:/5-81B18;<91:@?
,1->11D<;?10@;28A/@A-@5;:?5:/A>>1:/E1D/4-:31>-@1?@4-@/;A80:13-@5B18E59<-/@;A>25:-:/5-8>1?A8@?-:0/-?428;C?
><:NL>P>LLHNMLB=>MA>0GBM>=.M:M>LP>?:<>>QIHLNK>MH:=O>KL>
FHO>F>GMLBG?HK>B@GGQK:M>LPAB:F:M>KB:E:=O>KL>BFI:LNEML:G=<:LA
?EHPL/A>L>>QIHLNK>LF:RHO>KMBF>:L;NLBG>LLIK:L>OHEO>:G=>2>NL>=>KBO:MBO>
BGLMKNF>GMLMHF:G:@>:IHKMBHGH?HNK<:LA?EHPK>O>GN>:G=>QI>GL>>QIHLNK>MH?ENB@GGQ
K:M>LLI:KMH?HNKKBLDF:G:@>F>GMLMK:M>@RP>NL>?HK>B@GG:IHKMBHGH?HNK>QIHLNK>LH?
NG=>KERBG@:LL>MLEB:;BEBMB>L:G=HMA>KH;EB@:MBHGLPABQBLM:LI:KMH?HNKHG@HBG@;NLBG>LLHI>K:MBHGL/A>L>?HK>B@G
GGMLF:RA:O>F:MNKBMB>LMA:M>QM>G=?HKHG>MHFHGMALBGMA>?NMNK>:G=IKHOB=>NLPBMALHF>IKHM>GQIHLNK>L#HP>O>KHNK:MM>FIMLMHA>=@>:@:BGLMMA>L>KBLDLF:RGHM;>M>ERLN<<>LL?NEK>LNEMBG@BG
:G:=O>KL>BFI:LNEML
/A>?ENGLBGPABLL<:G;HMABG:L>:G==>:L>HNKHO>K:EEK>O>GN>:G=
>QI>GL>L?HK:GR@BO>GI>KBH=EMAHN@AHNK?HK>B@GG=@>IKH@K:F>QM>G=L;>RHG=MA>GMJN:KM>KBG
HK=>KMHK>=N<>HNK>QIHLNK>MH?HK>B@GG=HGHM:MM>FIMMHM>ERFBMB@:M>MABLKBLD:G=BG:GR<:L>
PBEEBG>LBG:=HIMBG@LN=@BG@IKH@K:FL.NO>GPA>GBMBG:L>LHNKK>O>GN>LHK=>:L>L
HNK>QI>GL>LBFI:ERIK>=BK>LNEML:G=>:KGBG@L
$G:==BMBHG@EH;:E>O>GMLBGLN==>G:G=NG>QI>=>??>*1$
I:G=>FB<:LP>EE:L@>HIHEBMB<:E
:G=>O>EHIF>GMLF:RMHOHE:MBEBMRBG?HK>B@G>QF:KD>MLPABF:RGHM;>:;E>MH>??>ER
F:G:@>:G=HNK?BG:GLNEML:=O>KL>ERBFI:===BMBHG:EERLBGPABHI>K:M>F:R;>=:L
AB@AERBG?E:MBHG:KR>LK>JNBKBG@LI>IHKMBG@MK>:MF>GM?HKLNK:MBHGLHKLNL^GLF:R;>=>O:EN>=HK;HMAPABKL>ERBFI:LLHI>K:MBHGL:G=?BG:GLNEML
$A>01.@?1>B5/1;.853-@5;:?9-E-0B1>?18E-221/@;A>25:-:/5-8/;:05@5;:-:0/-?428;C?2>;9;<1>-@5;:?


2>A:O>;BEEBHGH?IKBG;ML=N>:MO:KBHNLMBF>L?KHF%NG>MH><>F;>K:LH?
%:GN:KR:L=>L=BG+:KM$$$M>F2>:ELH>GM>K>=BGMH:=BM:@K>>F>GMMA:MIKHOB=>L?HK:GNGL>=
K>OHEOBG@EH:G?::@@K>@:M>IKBGBG:L>=NIMH;BEEBHG:L
=>L=BG+:KM$$$M>F(:BGM>G:G<>H?HNKBG=>;M>=G>LLLMKBLH?BG=>;M>=G>LL
NLMH=>=B<:M>:LN;LM:GMB:EIHKMBHGH?HNK<:LA?EHPL?KHFHI>K:MBHGLMHP:K=L=>;ML>KOB<>H;EB@:MBHGL:G=
IKBGI:RF>GML

BG:L>HNKONEG>K:;BEBMRMH:=O>KL>LBG@>G>K:E>MBMBO>QB;BEBMRBGIE:GGBG@?HKHKK>:LBGHNK;NLBG>LL:G=HNKBG=NLMKR

BFI:BKHNK:;BEBMRMHH;M:BG?NMNK>?BG:GQI>G=BMNK>L:G>K:E
HKHMA>KINKIHL>L:G=

=N>MHEBFBM:MBHGLPBMABGMA>=>;MBGLMKNF>GMLK>LMKBGLHGIKHI>KMR>GM>KBGMH<>KM:BGF>K@>KL
=BLIHL>H?:EEHKLN;LM:GMB:EER:EEH?MA>:LL>MLH?NMH=>LD:G=BMLLN;LB=B:KB>LM:D>G:L:PAHE>F:M>KB:EERHNK
;NLBG>LL:G=BG;M>=G>LLLN;C>Q<>IMBHGL
2>:K>K>JNBK>=MHG:GMLL>M?HKMABGHNK=BM:@K>>F>GM$?P>;K>:G:GML:G==H
GHMH;M:BG:P:BO>K?KHFMA>GHM>AHE=>KLHKE>G=>KLMA>GLN;C>I>KBH=LP>PHNE=GHM;>:;E>MHBG;M>=G>LLNG=>KMA>=BM:@K>>F>GM=>L=BG+:KM$$$M>F:G=:GRHNMLM:G=BG@BG=>;M>=G>LLNG=>KMA>
=BM:@K>>F>GMF:R;>=>=BFF>=B:M>ER=N>:G=I:R:;E>$G:==BMBHGL;R:GRK:MBG@:@>G=BMK:MBG@
F:RG>@:MBO>ERBFI:O:EN>:G=EBJNB=BMRH?HNKL>L0G=>K<>KM:BGLB?HNK=BMK:MBG@L:K>
=HPG@K:=>=HKHMA>KG>@:MBO>:GMA>BGM>K>LMK:M>I:R:;E>;RNLNG=>KHNK=BM:@K>>F>GM:L>
HPG@K:=>LBGHNK=BMK:MBG@LLMKB?NMNK>:G=
M>KFLH?:GRLN5:B1?@91:@<;>@2;85;/;:?5?@?;2-B->51@E;25:B1?@91:@B145/81?@4-@->1?A.61/@@;5:@1>1?@>-@1@>1:0?9->71@B;8-@585@E
-:0;@41>1/;:;95/2-/@;>?231:1>-81/;:;95//;:05@5;:?01/85:1@45?/;A80/-A?1@41/>105@>-@5:3?;2;A>5:B1?@91:@?@;
01@1>5;>-@1-:05885=A505@E5:@4125:-:/5-89->71@<8-/1-:0C19-E1D<1>51:/1-01/85:15:5:@1>1?@5:/;91-:0-:5:-.585@E@;
?188;A>5:B1?@91:@?81-05:3@;59<-5>91:@5:@41B-8A1;2;A>5:B1?@91:@?
$MBLHNKIHEBLMHNK<:LA<:LA>JNBO:E>GML:G=F:KD>M:;E>L>LBGAB@AEREBJNB=BGLMKNF>GMLPBMA:G=BGMA>
=BMK:MBG@L:G=MHEBFBMMA>:FHNGMLBGO>LM>=PBMA:GRHG>BGLMBMNMBHGMRI>H?
L>K#HP>O>KP>:K>LN;C>G>K:E>K>LMK:M>MK>G=L:G=OHE:MBEBMRBGMA>?BG:GMIE:<>MA:M<:G:??>BGMA:MP>K><>BO>?KHFHNKBGO>LMF>GMLMA>G>MK>:EBS:;E>O:EN>H?HNKBGO>LMF>GML
BGJNBO:E>GML:G=F:KD>M:;E>L>L	:G=HNK:;BEBMRMHL>EEMA>FGRHG>H?MA>L>?:=N<>HNKBGO>LMF>GMBGHKK>LNEMBGF:M>KB:ELPABK:EEG>MBGEHLL	:G=
>:KGBG@LEHLL	I>KLA:K>
!KHFMBF>MHMBF>P>F:D>=BK>LMF>GMLBGIKBO:M>ERA>E=L$GO>LMF>GMLBGIKBO:M>ERA>E=L:K>
K>=BGA>K>GMERKBLDR/A>M>L:G=IKH=NL>LA:O>NG=>K=>O>EHIF>GM:K>MRIB<:EERBGMA>>:KER
LM:@>L:G=F:RG>O>KF:M>KB:EBS>PABLNEMBG:EHLLH?:EEHK:LN;LM:GMB:EI:KMH?HNKBGBMB:EBGO>LMF>GMBGMA>L>
L/A>>O:EN:MBHGH?IKBO:M>ERA>E=LBL;:L>=HGBG?HKF:MBHGMA:MP>K>JN>LM?KHFMA>L>LPABL:F>=BLK>@NE:MBHGL:L0.IN;EB=L:G=:LLN;:LBL?HKMA>L>>O:EN:MBHGLBL
LN;C>MBFBG@:G=:<=:M:K><>BO>=?KHFMA>L>L
EHLLHG:GRH?HNKBGO>LMF>GMLF:R<:NL>NLMHK>K
MA:G
M>FIHK:KRBFI:BKF>GM/A>>??>K:EEG>MBG:G=>:KGBG@LI>KLA:K>$G:GRH?MA>L>L<>G:KBHLHNKEBJNB=BMRF:R;>G>@:MBO>ER
BFI:=PABLMF>GMLBGHNK;NLBG>LLM:DBG@:=O:GM:@>H?HIIHKMNGBMB>L:G=
IHM>GMB:EERF>>MBG@HNK?BG:GR=N>
4-:31?5:@-D>A81?-:0>13A8-@5;:?-:0A:/1>@-5:@51?5:5:@1><>1@-@5;:-:0-<<85/-@5;:/;A809-@1>5-88E-221/@;A>@-D
;.853-@5;:?-:01221/@5B1@-D>-@1


2>:K>:0.
;:L>=FNEMBG:MBHG:E0.:G=?HK>B@GM:QCNKBL=B??>M:Q
K:M>BLIKBF:KBER;:L>=HGHNK@>H@K:IAB<FBQH?>:KGBG@LLM:MNMHKRK:M>LLMH=GL:MBHGBGM>KF>GMLBGF:GG>KP>=>O>EHIO:EN>:G=EB<>GL>HNKBGM>EE>KMR:G=>G:=M:QKNE>L.B@GB?B<:GM
CN=@F>GMBLK>JNBK>=BG=>M>KFBGBG@HNK>??>M:QK:M>:G=BG>O:EN:MBG@HNKM:QIHLBMBHGLHG:PHKE=PB=>;:LBL2ABE>P>
;>EB>O>HNKM:QIHLBMBHGLBGKKIKBL:K>GMPBMAMA>M:QE:PLBGMA>CNKBL=BLLBMBLIHLLB;E>MA:MMA>L>IHLBMBHGLF:R;>G@>=;RM:Q:NMAHKBMB>L:G=F:RA:O>:
LB@GB?B<:GMBFI:??>M:QK:M>:G=<:LAM:Q>L
/:QE:PLBGMA>0GBM>=.M:M>L:G=BG?HK>B@GM:QCNKBL=B=RG:FB<:G=LN;C>:LG>PE:PL:K>I:LL>=
:G=G>PBGM>KIK>M:MBHGLH?MA>E:P:K>BLLN>=HK:IIEB>=!HK>Q:FIE>MA>0.@HO>KGF>GM>G:=LB@GB?B<:GMM:QE:PL
BG><>F;>KMA>/:Q=HNKM:QH;EB@:MBHGL:G=>??>M:QK:M>;>@BGGBG@BGHNK?BL<:EM:QR>:K
:G=LB@GB?B<:GMM:QE>@BLE:MBHGP:LBG=BGMA>(:KJN>GMHGLHEB=:M>=IIKHIKB:MBHGL<>F;>KN>MHMA>QBMR:G=O:KRBG@BGM>KIK>M:MBHGLH?MA>/:Q- .0.>I:KMF>GMH?
/K>:LNKR:G=HMA>KLM:G=:K=
L>MMBG@;H=B>LA:O>;>>GBLLNBG@:G=PBEEMHBLLN>K>@NE:MBHGL:G=BGM>KIK>M:MBO>@NB=:G<>
MA:MPBEE:IIERMA>E:P:G=MA>NEMBF:M>>??>LNEMLH?HI>K:MBHGL?KHF;HMAMA>/:Q
- .:KL$G:==BMBHGBG:L>LBGM:QK:M>L:L>HNK
>??>M:QK:M><:LAM:Q>L:G=A:O>:G:=O>KL>>??>LNEML?KHFHI>K:MBHGL
.B@G>=BGMHE:PHGN@NLMMA>$G?E:MBHG->=NLD
BG:EM>KG:MBO>FBGBFNFM:Q:G=>QM:QHGLMH:K>FHGBMHKBG@MA>L>BFI:=?BG:GF>GML
!HKM:QR>:KL;>@BGGBG@:?M>K><>F;>KMA>/:QJNBK>=M:QI:R>KLMH<:IBM:EBS>:G=:FHKMBS>K>L>:KO>EHIF>GMKG:E->O>GN>H=>.>JNBK>=M:QI:R>KLMH<:IBM:EBS>K>L>:KO>EHIF>GMMA>FHO>KR>:KL?HK>QI>G=BMNK>L:MMKB;NM>=MH=HF>LMB<K>L>:K:KL?HK
>QI>G=BMNK>L:MMKB;NM>=MH?HK>B@GK>L>:KLLBLKBG@E>@BLE:MBHGMA:MPHNE=K>BGLM:M>:G=>QM>G=
.>QI>GLBG@?HK<>KM:BGK>L>:KQI>KBF>GM:E>QI>G=BMNK>LMA>IHLLB;BEBMRMA:MMABLPBEEA:II>GBLNG<>KM:BG
$G:LBG@ERM:Q:NMAHKBMB>L:K>K>OB>PBG@>QBLMBG@M:QK>@NE:MHKR:G=E>@:EK>@BF>L(:GRL:K>:ER
KBG@HKBFIE>F>GMBG@G>PM:QBG@K>@BF>L:G=LMH>QBLMBG@M:QE:PL/ABL0.:G=?HK>B@GM:QE:P
=>O>EHIF>GMLK>E:M>=MHLMHEHG@
LM:G=BG@M:QIKBGL:KBLBG@?KHFIKHIHL:ELF:=>;RMA>*K@:GBS:MBHG?HK K:MBHG:G=>O>EHIF>GMMA:ML>>DMH:EEH<:M>@K>:M>KM:QBG@KB@AMLMHLPA>K>KL:K>EH<:M>=:G=>LM:;EBLA
:@EH;:EFBGBFNFM:QK:M>H?$?0.HK?HK>B@GM:Q:NMAHKBMB>L:IIEB<:;E>M:QE:PLHKLN<<>LL?NEERG@>AHP
HKPA>K>HNKIKH?BML:K>GMERK>=HNKHO>K:EEM:Q>L:L>:G=HNK;NLBG>LL?BG:GLNEML
H?HI>K:MBHGLF:R;>:=O>KL>ERBFI:=
2C1C1>1>1=A5>10@;>1/;>0-:59<-5>91:@/4->31>18-@10@;@41B-8A1;2;A>8;:385B10-??1@?;>-:-005@5;:-8B-8A-@5;:
-88;C-:/1-3-5:?@;A>0121>>10@-D-??1@?;A>>1?A8@?;2;<1>-@5;:?C;A80.1-0B1>?18E-221/@10
*NKEHG@
EBO>=:LL>ML:K>M>LM>=?HKBFI:BKF>GMB?BG=B<:MHKLH?BFI:BKF>GM>QBLM$?BFI:BKF>GMM>LMBG@LAHPLMA:MMA>
<:KKRBG@O:EN>H?HNKEHG@
EBO>=:LL>ML>Q<>>=LMA>BK>LMBF:M>=?:BKO:EN>LP>PHNE=;>K>JNBK>=MHK>GMPAB:L>MA><:KKRBG@O:EN>H?HNKEHG@
EBO>=:LL>ML:=O>KL>ER:??>LNEMLH?
HI>K:MBHGL*NK=>?>KK>=M:Q:LL>MLBGG>MHI>K:MBG@EHLL:FHKMBS:;E>M:Q:LL>ML:G=M:Q=BM<:KKR?HKP:K=LMA:M<:G;>
NL>=MHH??L>MM:Q:;E>BG:G=K>=N<>BGM:Q>LI:R:;E>BG?NMNK>I>KBH=L :KP>:LL>LLMA>G>>=?HK:
O:EN:MBHG:EEHP:G<>KBG@;HMAIHLBMBO>:G=G>@:MBO>>OB=>G<>MH=>M>KFBG>PA>MA>K:EEHK:IHKMBHGH?MA>=>?>KK>=M:Q
:LL>ML:K>FHK>EBD>ERMA:GGHMMH;>K>:EBS>=2>MHA:O>:O:EN:MBHG:EEHP:G<>:@:BGLM<>KM:BG0.:G=?HK>B@G
=>?>KK>=M:Q:LL>MLA:G@>LBGMA>:FHNGMH?MA>0.:G=?HK>B@GCNKBL=BLNEMBG:
F:M>KB:EGHG
<:LA>QI>GL>HK;>G>?BMBGMA>I>KBH=BGPABO:EN:MBHG:EEHP:G<>BL:=CNLM>=:G=HNKK>LNEMLH?HI>K:MBHGL
F:M>KB:EER:??>=2>PBEEMHI>K?HKFMA>L>M>LMLHGHNKPHKE=PB=>=>?>KK>=M:Q:LL>ML:G=:GR?NMNK>
:=CNLMF>GMLMHMA>K>:EBS:;BEBMRH?HNK=>?>KK>=M:Q:LL>MLF:RA:O>:F:M>KB:E>??>LNEMLH?
HI>K:MBHGL
1:1>-8'5?7-/@;>?
$A>.A?5:1??9-E.1?53:525/-:@8E05?>A<@10A<;:@41;//A>>1:/1;2-/-@-?@>;<45/1B1:@


*NK;NLBG>LLBLAB@AER:NMHF:M>=:G=K>EB>L>QM>GLBO>ERHGMA>:O:BE:;BEBMRH?HNKG>MPHKD:G==:M:<>GM>KBG?K:LMKN
HNKBGM>KG:EM>FL:G=HNKP>;LBM>L2>:ELHK>ERHGAHLM>=KL>KOB<>L?KHFMABK=I:KMB>L?HKL>KOB<>LMA:M
P>IKHOB=>MHHNKKL:G=KHI>K:MBHGL?HKHNKBGM>KG:ENL>/A>?:BENK>H?HNKLRLM>FLHKAHLM>=K
L>KOB<>L=N>MH:<:M:LMKHIAB<>O>GMLN:KMAJN:D>?BK>?EHH=MLNG:FBP>:MA>K>O>GMM>E>
IHP>K?:BENK>K:MM:KKHKBLFHKP:KBGHG@HBG@P:KL;>MP>>GMA>0DK:BG>:G=-NLLB::G=;>MP>>G$LK:>E
:G=#:F:L:G=:GRK>E:M>=IHEBMB<:EHK>LIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>;RO:KBHNL@EH;:E:
@>G>K:E>??>@EH;:E>LLBGM>KKNIMBHG?KHF>IB=>FBFB?>:KH?LNO>GMLKL>ERBFI:LL?BG:GLNEML:G=?BG:GQ:FIE>HNKA>:=JN:KM>KL:G=>Q>
H??B<>L:K>EH<:M>=G>:KF:CHKL>BLFB<?:NEMLBGMA>.:G!K:G::G=?:<>:GGN:EI>KBH=LH?PBE=?BK>=:G@>KPAB:L>MA>IKH;:;BEBMRH?IHP>KHNM:@>L:G=F:RBFI:FIEHR>>L^:;BEBMB>LMHMHPHKDHKMHPHKD?KHFAHF>2>
A:O>=>O>EHI>==BL:LM>KK>KRIE:GL:G=F:BGM:BG;:FLBGHK=>KMHK>=N<>MA>IHM>GMB:EBFI:O>GMAHP>O>KMA>K><:G;>GH:LLNK:G<>MA:MMA>L>IE:GL:G=LRLM>FLPHNE=>G:;E>NLMHK>MNKGMHGHKF:E;NLBG>LLHI>K:MBHGL
$G:==BMBHG:GRLNO>GM@:MBO>ERBFI:@BHGBGPABL>EEHNKIKH=N:L>MA:M@BHG^L=>F:G=?HKHNKIKH=N@:MBO>ERBFI:LNEML
,1->1?A.61/@@;813-8<>;/1105:3?-:0>13A8-@;>E5:=A5>51?-:0C19-E.1:-9105:-005@5;:-8813-8<>;/1105:3?;>.1/;91
5:B;8B105:>13A8-@;>E5:=A5>51?5:@412A@A>1-88;2C45/4->1/;?@8E05?@>-/@5:3@;;A>/;>1.A?5:1??-:0/;A80>1?A8@5:-:
A:2-B;>-.81;A@/;91;>-9-@1>5-8-0B1>?11221/@;:;A>.A?5:1??25:-:/5-8/;:05@5;:>1?A8@?;2;<1>-@5;:?/-?428;C?;>@41
@>-05:3<>5/1?2;>;A>?1/A>5@51?
2>:K>BGOHEO>=BGE>@:EIKH<>>=BG@L:G=K><>BO>BGJNBKB>L?KHFK>@NE:MHKR:@>GLLMA>@EH;:E>=
:G=HNK;NLBG>LLA:L>OHEO>=P>A:O>L>>G:GBG:L>BGEBMB@:MBHG:@NE:MHKRBGJNBKB>L'BD>F:GRHMA>K
M>LMA>GNF;>K:G=?K>JN>GL?KHF0.:G=?HK>B@GK>@NE:MHKR:@>GLP>A:O>K><>BO>=
K>@:K=BG@HNK;NLBG>LL:G=HNK;NLBG>LLIK:L:LP>EE:LMA>;NLBG>LLIK:LH?HMA>KLBGHNKBG=NLMKRA:O>BG:L>=BG
K><>GMR>:KL$GMA>>O>GMP>:K>BGOHEO>=BGLB@GB?B<:GM=BLINM>LHK:K>MA>LN;C>@NE:MHKR:@>G
>QIHL>=MH
@:EIKH<>>=BG@LMA:MLNEMBG:GRGNF;>KH?HNMLGR@NE:MHKR:=;RHK:@:BGLMNLPA>MA>KLN<<>LL?NEHKGHMLNEMBGAB@A=>?>GL>:P:K=L
BGCNGK>EB>?BG:L>=LL?BG>LHKHK=>KLMH<>KM:BG;NLBG>LLIK:LLB@GB?B<:GM=>=B<:MBHGH?
F:G:@>F>GMMBF>=BO>KLBHGH?HI>K:MBHG:EK>LHNK<>LHKHMA>KPBL>A:KFHNK;NLBG>LL$G:GRLNO>GMHNK?BG:GLNEML
K>LNEMLH?HI>K:MBHGL<:LA?EHPLHKMK:=BG@IKB<>L?HKHNKL>LG>@:MBO>ERBFI:=
4-:31?5:1D5?@5:325:-:/5-8-//;A:@5:3?@-:0->0?;><>-/@5/1?;>@-D-@5;:>A81?;><>-/@5/1?9-E-0B1>?18E-221/@;A>>1?A8@?
;2;<1>-@5;:?
A:G@>LBG>QBLMBG@:<LHKIK:LG>P:<F>GMLHKM:Q:MBHGKNE>LHK
O:KRBG@BGM>KIK>M:MBHGLH?GM:<F>GMLHKM:Q:MBHGIK:L:LB@GB?B<:GM:=O>KL>>??>LNEMLH?HI>K:MBHGLHKMA>P:RP>LL!NKMA>KLNLGMB:EER:??>IHKMBG@H?
MK:GL:M>=;>?HK>LNL:K>>??>
,1->1>1=A5>10@;1B-8A-@1;A>5:@1>:-8/;:@>;8;B1>25:-:/5-8>1<;>@5:3A:01>(1/@5;:
;2@41(->.-:1?$D81E/@;2


-:0-:E-0B1>?1>1?A8@?2>;9?A/41B-8A-@5;:/;A80>1?A8@5:-8;??;25:B1?@;>/;:2501:/15:;A>25:-:/5-8>1<;>@?-:04-B1-:
-0B1>?11221/@;:;A>?@;/7<>5/1
+NKLN:GMMH.>.:K;:G>L
*QE>R:K>K>JNBK>=MH?NKGBLA:K>IHKM;RHNKF:G:@>F>GMHGHNK
BGM>KG:EK?BG:GIHKMBG@BGLLF>GMH?MA>>??>G>LLH?HNKBGM>KG:EK?BG:GIHKMBG@:LH?MA>>G=H?HNK?BL<:ER>:K/ABL:LL>LLF>GMFNLMBG:LM:M>F>GM:LMHPA>MA>KHKGHMHNKBGM>KG:EK?BG:GIHKMBG@BL>??>:G==BLH?:GRF:M>KB:EP>:DG>LL>LBGHNKBGM>KG:EK?BG:GIHKMBG@
B=>GMB?B>=;RF:G:@>F>GM$?HNKF:G:@>F>GMHKBG=>I>G=>GMK>@BLM>K>=IN;EB<:<GMB?B>LHG>HKFHK>F:M>KB:E
P>:DG>LL>LBGHNKBGM>KG:EK?BG:GIHKMBG@P>:K>NG:;E>MH:LL>KMMA:MHNKBGM>KG:EK?BG:GIHKMBG@BL>??>HKHNKBG=>I>G=>GMK>@BLM>K>=IN;EB<:<MH>QIK>LL:GHIBGBHGMA:MHNKBGM>KG:E
>??>BGO>LMHKLG<>BGMA>:<M>G>LLH?HNK?BG:GIHKMLPAB:G:=O>KL>>??>LL:G=LMH
:<>1<->5:3;A>25:-:/5-8?@-@191:@?C19-71/1>@-5:-??A9<@5;:?6A0391:@?-:01?@59-@1?@4-@-221/@-9;A:@?>1<;>@105:
;A>/;:?;850-@1025:-:/5-8?@-@191:@?C45/452:;@-//A>-@19-E?53:525/-:@8E59<-/@;A>25:-:/5-8>1?A8@?


2>F:D>:LLNFIMBHGLCN=@F>GML:G=>LMBF:M>L?HK:GNF;>KH?BM>FLBGO>GN>K>GM>KIKBL>;NLBG>LL:KK:G@>F>GML[ L\	MA>=>M>KFBG:MBHGH?MA>?:BKO:EN>H?:=:LL>ML:G=
EB:;BEBMB>L@HH=PBEE?BG:GGMLBG@B<BGO>LMF>GMLEHG@
EBO>=:LL>ML:G=BGM:G@B;E>:LL>MLMA>
K>:EBS:;BEBMRH?=>?>KK>=M:Q:LL>ML:G=MA>?:BKO:EN>H?LMH:ELHF:D>:LLNFIMBHGLCN=@F>GML:G=>LMBF:M>LBG
=>M>KFBGBG@MA>:<KM:BGM:QIHLBMBHGLO:KB:;E>GL:MBHGI:KMG>KBG<>GMBO>IKH@K:FL:EEHP:G<>L?HK=BM
EHLL>L:LL>MK>MBK>F>GMH;EB@:MBHGLE>@:EGL:G=HI>K:MBG@E>:L>EB:;BEBMB>L/A>L>:LLNFIMBHGLCN=@F>GML:G=
>LMBF:M>L:K>=K:PG?KHFABLMHKB<:E>QI>KB>G<>:G=O:KBHNLHMA>K?:;>EB>O>:K>K>:LHG:;E>NG=>KMA>L
:LH?MA>=:M>H?MA>=?BG:GF>GMLLNEMLKF:M>KB:EER?KHFHNK>LMBF:M>L:G=LNK>G<>LLNEML
!,%

-&*+'$.+,'%%&,+
)HG>
!,%

1*+-*!,1
'5?7"-:-3191:@-:0(@>-@13E
NMH=>LDA:L>LM:;EBLA>=IHEBL:G=IKH<>LL>L?HK:LL>LLBG@MK>:MBG@:G=F:G:@BG@F:M>KB:EKBLD?KHFKL>:ML;:L>=HGK>E>O:GMBG=NLMKRLM:G=:K=L/A>L>IHEBL:G=IKH<>LL>L:K>K>OB>P>=:G=NI=:M>=:ME>:LM:GGN:EER2>A:O>
BGM>@K:M>=MA>L>IKH<>LL>LBGMHHNKHO>K:EEKBLDF:G:@>F>GMLRLM>FL:G=IKH<>LL>L2>KHNMBG>ER:LL>LLF:M>KB:EKBLDL?KHF
KL>:MLBGGMB:ENG:NMAHKBS>=H<G<>HGHK=MAKHN@AHNKBG?HKF:MBHGLRLM>FLMA:M
F:R:=O>KL>ER:??>GMB:EBMRBGM>@KBMRHK:O:BE:;BEBMRH?HNKBG?HKF:MBHGLRLM>FLHK:GRBG?HKF:MBHGK>LB=BG@
MA>K>BG
2>LLF>GMLI>G>MK:MBHGM>LML:G=HMA>KL>LLF>GMLMHB=>GMB?RKL>:MLK>@NE:KER
:G=BGMA>>O>GMH?:F:M>KB:EBGHNK;NLBG>LLIK:LMA:MF:R:??>FLIHM>GMB:EERONEG>K:;E>MH
LNKL>:ML/A>L>:LL>LLF>GMLBGMA>B=>GMB?B<:MBHGH?K>:LHG:;ER?HK>L>>:;E>BGM>KG:E:G=>QM>KG:EKBLDL
MA>EBD>EBAHH=:G=IHM>GMB:E=:F:@>MA:MLNEM?KHFLNLN??BGQBLMBG@IHEBLIKH<>=NK>L
LRLM>FL:G=L:?>@N:K=LBGIE:<>MHF:G:@>LNMA>G:LLB@G>=MHMA>:IIKHIKB:M>HPG>KL?HKMK:L>:LL>LLF>GMLP>K>
=>LB@GBFIE>F>GM:G=F:BGM:BGK>:LHG:;E>L:?>@N:K=LPA>G:IIKHIKB:M>MH
FBGBFBS>B=>GMB?B>=KBLDLK>:LHG:;ER:==K>LL:GRB=>GMB?B>=@:ILBG>QBLMBG@L:?>@N:K=L:G=
>??>G>LLH?HNKL:?>@N:K=L2>=>OHM>LB@GB?B<:GMK>LHNK<>L:G==>LB@G:M>AB@A
E>O>EI>KLHGG>EBG?/KNLM
*??B<>KPAHK>IHKMLMHHNKAB>?/>KMHF:G:@>MA>KBLD:LL>LLF>GM:G=FBMB@:MBHGIKH<>LL>L
LI:KMH?HNKHO>K:EEKBLDF:G:@>F>GMLRLM>FP>FHGBMHK:G=M>LMHNKL:?>@N:K=L2>MK:BGHNKPHKD?HK<>HGMA>L>
L:?>@N:K=L+>KLHGG>E:M:EEE>O>EL:G==>I:KMF>GML:K>F:=>:P:K>H?HNKKL>LMAKHN@AK>JNBK>=MK:BGBG@L
R;>KL>MHI>Q>KL:K>K>@NE:KER=?HKHNK>Q>L:G=?HKBGGMK>LIHGL>IKH?>LLBHG:EL
$FIKHO>F>GMLB=>GMB?B>=:MMA>L>M:;E>MHI>Q>KL:K>BFIE>F>GM>=BGMHHNKIKH<>LL>L
2>>G@:@>:LL>LLHKLLLF>GMIKH<>LL>L/A>L>HNMLB=>:=OBLHKL
:LLBLMNLMH=>LB@G:G=BFIE>F>GMHNKKL>L:G=IKH<>=NK>L:LP>EE:LMHFHGBMHK:G=M>LMHNKL:?>@N:K=L

2>K>JNBK>NMH=>LD^LMABK=
I:KMRL>KOB<>IKHOB=>KL:G=LNIIEB>KLMHBFIE>F>GM:G=F:BGM:BG:IIKHIKB:M>L>:LNK>LGMPBMA:IIEB<:;E>E:PLBGBKPHKDPBMANL:G=MHIKHFIMERK>IHKM:GRLNLI>=;K>:BKL>:LNK>LMA:MF:R:??>@:K=BG@PA>MA>K:GRKBLDL?KHFKL>:MLBGLNEMH?:GRIK>OBHNL
KL>GMLA:O>F:M>KB:EER:??>=HK:K>K>:LHG:;EREBD>ERMHF:M>KB:EER:??>LLLMK:M>@RK>LNEMLH?HI>K:MBHGLHK?BG:G:L>K>?>KMH$M>F[-BLD!:IHKMHG
!HKF
&BGKBLD?:GMBME>=[-BLDL->E:MBG@MH*NK*I>K:MBHGL\


;B1>:-:/1
*G>H?MA>D>R?NG=HO>KLB@AMH?HNKKBLDF:G:@>F>GMIKH<>LLBGKL>:ML*NK;H:K=H?=BK>LIHGLB;E>?HKFHGBMHKBG@:G=:LL>LLBG@LMK:M>@B<KBLD>QIHLNK>/A>
;H:K=^LN=BMHFFBMM>>HO>KL>>LMA>F:G:@>F>GMH?KL>E:MBG@MH?BG:GKG:EKL/A>?NEE;H:K=K><>BO>LK>@NE:KNI=:M>L?KHFHNKL>GBHKF:G:@>F>GM:G=HNMLB=>:=OBLHKLK>@:K=BG@KL>LD?:<>L*NK GM>KIKBL>-BLD(:G:@>F>GM?NGLIHGLB;E>?HKB=>GMB?RBG@IKBHKBMBSBG@:G=FBMB@:MBG@KBLDLMA:M
LDL:O>F>GMH?BMLLMK:M>@B<:G=HI>K:MBHG:EIKBHKBMB>L*NK>Q>H??B<>KL:K>K>LIHGLB;E>?HKMA>=:R
MH
=:R:LL>LLF>GM:G=F:G:@>F>GMH?MA>L>KBLDL
*NKAB>?/KNLM*??B<>KBLK>LIHGLB;E>?HK:LL>LLBG@:G=F:G:@BG@F:M>KB:EKBLDL?KHFKL>:ML*NKAB>?
/KNLM*??B<>KA:LFHK>MA:GMP>GMRR>:KLH?KL>:=>KLABI>QI>KB>G<>BGKOBG@BGLBFBE:KKHE>LE>:=BG@
KL>KIN;EB<L
*NKAB>?/KNLM*??B<>KHO>KL>>LHNKKL>L:G=IKH<>LL>LBG=>L=BG[-BLD
(:G:@>F>GM:G=.MK:M>@R\:;HO>/A>IKH<>LL>L;RPAB?/KNLM*??B<>KBLBG?HKF>=:;HNM:G=FHGBMHKLMA>
IK>O>GMBHG=>M>F>=B:MBHGH?KL>GMLBGMA>?HEEHPBG@E>:=BG@NMH=>LD^L/KNLM
IKH@K:FPABF>GML=:M:IKHM>:LNK>L:G=IKH<>LL>L:HK@:GBS:MBHGLMK:M>@B<IE:GGBG@H?MA>KL>L:G=H;C>LKL>??HKMLF:G:@BG@MHHEL:G=IKH<>LL>LMA:MLNIIHKML>GMFHGBMHKBG@:G=:E>KMBG@HO>KL>>BG@L>GMK>LIHGL>IE:GGBG@F:G:@BG@>Q>KLMA:MM>LMF:G:@>F>GM^L
K>LIHGL>IE:GL:G=IKH<>=NK>L:G=F:G:@BG@HNKK>LIHGL>MHLNLI>=HK:GML
*NKAB>?/KNLM*??B<>KIKHOB=>LJN:KM>KER;KB>?BG@LMHMA>N=BMHFFBMM>>K>@:K=BG@HNKKL>
H?HNK/KNLMIKH@K:FBG<>GMKL>GML:G=K>E:M>=K>LIHGL>LKL>FLM>LMBG@:G==:M:
IKHM>L:G=F>MKB>K>@NE:KERNI=:M>LMA>;H:K=H?=BK>IHKML$G:==BMBHG
HNKAB>?/KNLM*??B<>KIKHOB=>L;KB>?BG@LHGKL>LMHMA>;H:K=H?=BK>:LM:GGN:EER*NK
AB>?/KNLM*??B<>KF:R:ELH;KB>?MA>;H:K=H?=BK>@:K=BG@LB@GB?B<:GMKL>GML
!,%
(*'(*,!+
2>E>:L>:IIKHQBF:M>ERLJN:K>?>>MH?H??B<>LI:<>BGEH<:MBHGLBGMA>0GBM>=.M:M>L:G=BGM>KG:MBHG:EER
MAKHN@AHNK?HK>B@GLN;LB=B:KB>L*NK>Q>H??B<>L:G=A>:=JN:KM>KL:K>BGE>:L>=H??B<>LI:<>BG.:G!K:GLERLJN:K>?>>MNG=>KE>:L>LMA:MA:O>>QIBK:MBHG=:M>L
K:G@BG@?KHF%NG>MH><>F;>K2>:G=HNK?HK>B@GLN;LB=B:KB>LE>:L>:==BMBHG:ELI:<>BGO:KBHNLEH<:MBHGL
MAKHN@AHNMMA>PHKE=?HKEH<:EL:E>LIKH=NO>EHIF>GM:G=M>KLHGG>E
EE?:L:K>BG@HH=;>EB>O>MA:MHNK>QBLMBG@?:L:G=H??B<>L:K>:=>JN:M>MHF>>MHNK
K>JNBK>F>GML?HKMA>?HK>L>>:;E>?NMNK>.>>+:KM$$$M>F)HM>['>:L>L\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML
?HKFHK>BG?HKF:MBHG
!,%
$$(*'!&+
2>:K>BGOHEO>=BG:O:KB>MRH?LMB@:MBHGLBGJNBKB>L:G=IKH<>>=BG@LBGMA>GHKF:EH?;NLBG>LL
:LBG@>=BG?KBG@>F>GMH?BGM>EE>KMRKB@AMLKFIEHRF>GMM:QIKHL>=NL>;NLBG>LLIK:L:G=HMA>KF:MM>KL$GHNKHIBGBHGK>LHENMBHGH?I>G=BG@F:MM>KLBLGHM>QI>=MHA:O>:
F:M>KB:E:=O>KL>BFI:=K>LNEMLH?HI>K:MBHGL<:LA?EHPLHK?BG:GGMA>NGIK>=B
G:MNK>H?E>@:EIKH<>>=BG@LMA>K>BL:K>:LHG:;E>IHLLB;BEBMRMA:M:GNG?:OHK:;E>K>LHENMBHGH?HG>HKFHK>LN>=BG@L
?NMNK>F:M>KB:EER:??>LNEMLH?HI>K:MBHGL<:LA?EHPLHK?BG:GKBH=AHP>O>K
;:L>=HGMA>BG?HKF:MBHGDGHPG;RNL:LH?MA>=:M>H?MABL?BEBG@:G=MA>KNE>L:G=K>@NE:MBHGL:IIEB<:;E>MHMA>IK>I:K:MBHGH?
HNK?BG:GF>GML:GRLNBMA>KBFF:M>KB:EHKBMBLGHMIHLLB;E>MHIKHOB=>:G>LMBF:M>=:FHNGMH?:GRLNGMB:EEHLL
$G>:KER(:KN=BMHFFBMM>>H?NMH=>LD^LH:K=H?BK>G<>=:GBGM>KG:EBGO>LMB@:MBHGPBMA
MA>:LLBLM:G<>H?HNMLB=>E:G=:=OBLHKLK>@:K=BG@MA>HFI:GR^L?K>><:LA?EHP:G=GHG
"+HI>K:MBG@F:K@BG
IK:LMA>[$GM>KG:E$GO>LMB@:MBHG\	*G(:KHFI:GROHENGM:KBER=MA>0..>L:G=
 QHFFBLLBHG[. \	MHBG?HKFBMH?MA>$GM>KG:E$GO>LMB@:MBHG*GIKBEMA>0GBM>=.M:M>LMMHKG>R^L*??B<>
?HKMA>)HKMA>KGBLMKB=MA>HFI:GRK>@:K=BG@MA>$GM>KG:E$GO>LMB@:MBHG/A>HFI:GR
OHENGM:KBERIKHOB=>=MA>. :G=0.*PBMA<>KM:BG=HGMLK>E:MBG@MHMA>$GM>KG:E$GO>LMB@:MBHG:G=PBEEMH


K:M>PBMAMA>. :G=0.*MMABLLM:@>MA>HFI:GR<:GGHMK>:LHG:;ER>LMBF:M>MA>:FHNGMH?:GRIHLLB;E>
?BG:GLNEM?KHFMABLF:MM>K
*GIKBEIE:BGMB??(BE:KD:LB?BE>=:INKIHKM>=?>=>K:EL>L)HKMA>KG
BLMKBHFI:GRHNKAB>? Q>*??B<>KG=K>PG:@GHLM:G=HNK?HKF>KAB>?!BG:GK>;HK:A'EB??HK=/A>:=(BE:KD:LBONMH=>LD$G<>M:E
=LAHKMER:?M>KMA>HFI:GR^L:GGHNG<>F>GMH?MA>N=BMHFFBMM>>H?MA>H:K=H?BK>KG:E
BGO>LMB@:MBHGK>@:K=BG@MA>HFI:GR^L?K>><:LA?EHP:G=GHG
"+HI>K:MBG@F:K@BGIK:L@>G>K:EER:EE>@>LMA:MMA>
=>?>G=:GMLF:=>?:EL>:G=FBLE>:=BG@LM:M>F>GMLBGOBHE:MBHGH?.>.>L Q;
IKHFNE@:M>=MA>K>NG=>K/A>:;KHN@AMHG;>A:E?H?MAHL>PAHINK=HK
HMA>KPBL>:=MA>HFI:GR^LIN;EB=L>L;>MP>>G%NG>:G=IKBE:G=L>>DLNGLI>=
=:F:@>L:G=HMA>KK>EB>?/A><:L>BLBGBML>:KERLM:@>L:G=:E>:=IE:BGMB??A:LR>MMH;>:IIHBGM>=MMABLLM:@>MA>HFI:GR
<:GGHMK>:LHG:;ER>LMBF:M>MA>:FHNGMH?:GRIHLLB;E>?BG:GLNEM?KHFMABLF:MM>K
$G:==BMBHGHG%NG>:INKIHKM>=LMHK=>KBO:MBO>=BGMA>0GBM>=.M:M>LBLMKB)HKMA>KGBLMKBGM=BK>?.MK:M>@R*??B<>K:L=>?>G=:GML:G=HNK
?>G=:GM/A>G>K:EER:EE>@>LOBHE:MBHGLH?.> Q:L:B=BG@:G=:;>MMBG@;K>:LNGCNLM>GKBGM:;NL>H?H?
:LL>ML;:L>=HGLBFBE:KNG=>KERBG@:EE>@:MBHGL=BGMA>INKIHKM>=?>=>K:EL>LL=
:;HO>
!,%
%!&+,1!+$'+-*+

)HM:IIEB<:;E>


(*,!!
!,%
%*#,'**!+,*&,S+'%%'&)-!,1*$,+,'# '$*%,,*+
&!++-*(-* ++')-!,1+-*!,!+
%*#,!&'*%,!'&'*'%%'&+,'#
*NK=HGMA>):L=:J"EH;:E.>E>MNG=>KMA>LRF;HE.&
!.!&('$!1
2>:GMBMA:M?HKMA>?HK>L>>:;E>?NMNK>P>PBEEGHMI:R:GR<:LAHKLMHG=L
+,'# '$*+
LH?%:GN:KRMA>GNF;>KH?KLH?K><:NL>F:GRH?HNKLA:K>LH?A>E=;R;KHD>KLHKHMA>KBGLMBMNMBHGLHG;>A:E?H?LMHKLP>:K>NG:;E>MH>LMBF:M>MA>MHM:EGNF;>KH?
LMHKLK>IK>L>GM>=;RMA>K>KL
!++-*(-* ++')-!,1+-*!,!+
NMH=>LD^LLMHINKIKH@K:FIKHOB=>LNMH=>LDPBMAMA>:;BEBMRMHH??L>MMA>=BENMBHG?KHFMA>BLLN:G<>H?LMHKHNK>FIEHR>>LMH=N<>LA:K>LHNMLM:G=BG@HO>KMBF>:G=A:LMA>>??>MNKGBG@>Q<>LL<:LA@>G>K:M>=
?KHFHNK;NLBG>LLMHLMHKL0G=>KMA>LA:K>K>INKIKH@K:FNMH=>LDF:RK>INKLA:K>L?KHFMBF>MHMBF>BG
HI>GF:KD>MMK:GL:ERG>@HMB:M>=MK:GL:E>K:M>=LA:K>K>INKIKH@K:FLM>G=>KH??>KLHK;RHMA>K
F>:GL/A>LA:K>K>INKIKH@K:F=H>LGHMA:O>:G>QIBK:MBHG=:M>:G=MA>I:<>:G=MBFBG@H?K>INKLPBEE=>I>G=HG
?:G>K:MBHG?KHFHI>K:MBHGL:O:BE:;E>LNKIENLMA>OHENF>H?>FIEHR>>LMHF:BGBG@LA:K>L
:O:BE:;E>BGMA>:NMAHKBS>=IHHE<:LAK>JNBK>F>GML?HK:M:G=E>@:E:G=
K>@NE:MHKRK>JNBK>F>GML
/A>?HEEHPBG@M:;E>IKHOB=>LBG?HKF:MBHG:;HNMMA>K>INKH?G
F:KD>MMK:GL:
JN:KM>K>G=>=%:GN:KR
(4->1?5:@4;A?-:0?
,DI6A&JB7:GD;
+=6G:H(JG8=6H:9
K:G6<:
(G>8:(6>9E:G
+=6G:
,DI6A&JB7:GD;
+=6G:H(JG8=6H:9
6H(6GID;(J7A>8AN
CCDJC8:9(A6CH
DG(GDB6I:DAA6G
.6AJ:D;+=6G:HI=6I%6N
1:I:(JG8=6H:9-C9:G
I=:(A6CHD;(GDF;>K
)HO>F;>K






><>F;>K
><>F;>K







%:GN:KR
%:GN:KR







/HM:E





88888888888888888888
	
->IK>L>GMLLA:K>LINK=BGHI>G
F:KD>MMK:GL:KMA>LMHINKIKH@K:F:IIKHO>=;RMA>H:K=H?BK>F;>K
	
/A>L>:FHNGMLLIHG=MHMA>IE:GIN;EB=:G=:IIKHO>=;RMA>H:K=H?BK>F;>KMA:M:NMAHKBS>=
MA>K>INKH?;BEEBHGM%:GN:KR;BEEBHGK>F:BG>=:O:BE:;E>?HKK>INKNG=>KMA>)HO>F;>KK>INK
IKH@K:F/A>IE:G=H>LGHMA:O>:?BQ>=>QIBK:MBHG=:M>
+$+'-&*!+,*+-*!,!+
/A>K>P>K>GHL:E>LH?NGK>@BLM>K>=L>L=NKBG@MA>MAK>>FHGMAL>G=>=%:GN:KR


'%(&1+,'#(*'*%&
/A>?HEEHPBG@@K:IALAHPL:?BO>
R>:KMHM:EK>MNKG>JN:EMH=BOB=>G=LIENLLMH.M:G=:K=+HHK^L.MHQMA>.M:G=:K=+HHK^L)HKMAF>KB<:G/>
$G=>Q:G=MA>HP%HG>L0..H?MP:K>$G=>Q/A>?HEEHPBG@@K:IA:G=K>E:M>=BG?HKF:MBHGPBEEGHM;>=>>F>=MH;>
[LHEBKB:E\HKMH;>[?BE>=\PBMAMA>. GHKPBEELNBG=;RK>?>K>G<>BGMH:GR?BEBG@
INKLN:GMMHMA>.>L.>L QQ<>IMMHMA>>QM>GMMA:MP>LI>BM;RK>?>K>G<>BGMHLNHDCD;>K:1:6GJBJA6I>K:,DI6A+ID8@=DA9:G*:IJGC

NMH=>LD$G<
.+
.+)HKMAF>KB<:G/>
HP%HG>L0..H?MP:K>













8888888888888888888
	
LLNF>LBGO>LM>=HG%:GN:KRBGNMH=>LD^LLMH.M:G=:K=+HHK^L.MHQ.M:G=:K=+HHK^L)HKMA
F>KB<:G/>$G=>Q:G=MA>HP%HG>L0..H?MP:K>$G=>QPBMAK>BGO>LMF>GMH?:EE=BOB=>G=L/HM:ELMHK
K>MNKGL?HKIKBHKI>KBH=L:K>GHM:GBG=B<:MBHGH??NMNK>BGO>LMF>GMK>MNKGL


!,%
3*+*.4


!,%
%&%&,S+!+-++!'&&&$1+!+'!&&!$'&!,!'&&*+-$,+
''(*,!'&+
)412;88;C5:305?/A??5;:-:0-:-8E?5?;2;A>25:-:/5-8/;:05@5;:-:0>1?A8@?;2;<1>-@5;:??4;A80.1>1-05:/;:6A:/@5;:
C5@4;A>/;:?;850-@1025:-:/5-8?@-@191:@?-:0>18-@10:;@1?-<<1->5:35:%->@@19;2@45?::A-8'1<;>@;:;>9
 
)45?05?/A??5;:/;:@-5:?2;>C->08;;75:3?@-@191:@?.-?10A<;:/A>>1:@1D<1/@-@5;:?@4-@5:B;8B1>5?7?-:0A:/1>@-5:@51?$A>
-/@A-8>1?A8@?9-E05221>9-@1>5-88E2>;9@4;?1-:@5/5<-@105:@41?12;>C->08;;75:3?@-@191:@?-?->1?A8@;2?1B1>-82-/@;>?
5:/8A05:3@4;?1?1@2;>@4-.;B15:%->@@19'5?7-/@;>?-:018?1C41>15:@45?>1<;>@(11H;>C->0!;;75:3
:2;>9-@5;:I599105-@18E<>1/105:3%->@
+,*,1
NMH=>LDBLPHKE=BL=>LB@G>=:G=F:=>*NKM>>G@BG>>KBG@LB@GF:GN?:=B::G=>GM>KM:BGF>GM>FIHP>KBG@BGGHO:MHKL>O>KRPA>K>MHLHEO>G@>L;B@:G=LF:EE
!KHF@K>>G>K;NBE=BG@LMHLF:KM>KIKH=NF>LF>KBSBG@;EHKLNMH=>LDM>EILHNKKLMH
=>LB@G:G=F:D>:;>MM>KPHKE=?HK:EE
*NKLMK:M>@RBLMH=>EBO>K:MKNLM>==>LB@G:G=F:D>IE:M?HKFMA:MHIE>MAKHN@A:NMHF:MBHG=:M::G=BGLB@AML
MHA>EIMA>F:O>;>MM>KHNML?HKMA>BK;NLBG>LL>L:G=MA>PHKE=/H=KBO>MA>>Q>@RP>:K>?H=
HGMAK>>LMK:M>@B<IKBHKBMB>L;NBE=MA>IE:M?HKFH??HK>LB@G:G=(:D>:<<>E>K:M>:=HIMBHGH?!NLBHG!HKF::G=!EHP
:G=MK:GL?HKFAHPKL>QI>KB>G<>NMH=>LD
2>>JNBI:G=BGLIBK>HNKNL>KLPBMAMA>M:BEHK>=MHHELL>KOB<>L:G=:<<>LLMA>RG>>=?HKLN<<>LLMH=:R:G=MHFHKKHPM
>O>KRLM>IP>A>EINL>KLA:KG>LLMA>IHP>KH?=:M:MH;NBE=NIHGMA>BKB=>:L:G=>QIEHK>G>PP:RLH?BF:@BGBG@:MBG@MH:O>;>MM>KHNML?HKMA>BKKL?HKLHMR:G=?HKMA>PHKE=G=;><:NL>:MBOBMR<:G^M?EHNKBLA
BGLBEHLP>KL
?KHFLM>ILBG:IKHC>=IE:M?HKF
%>;0A/@B;8A@5;:
2>H??>KLN;LGM>KIKBL>;NLBG>LL:KK:G@>F>GML[ L\	:G=
KOB<>H??>KBG@LERK>?>KK>=MH:L[LN;L=>LB@G>=MH@BO>HNKKL
FHK>?E>QB;BEBMRPBMAAHPMA>RNL>HNKH??>KBG@L:G=MH:MMK:KK:G@>H?KLLN=NL>KL:G=
LF:EE;NLBG>LL>L
*NKLN;LIK>L>GM:AR;KB=H?=>LDMHILH?MP:K>:G=L:=>OB<>
BG=>I>G=>GM=>LB@GPHKD?EHP?HK=>LB@G>KL:G=MA>BKLM:D>AHE=>KL*NKKBG@L?HK>Q:FIE>NMH=>LD
HGLMKNLDNBE=!NLBHG!EHP+KH=N;:II:G=NMHFH;BE>:II
IKHOB=>MHHELBG:G=LMHLMK>:FEBG>=>LB@GF>GMIKH<>LL>L2>;>EB>O>MA:MK:=HIMBHGH?MA>L>E:M>LMH??>KBG@LPBEEMH@KHP:LKL
:H?BG=NLMKB>L;>@BGMHM:D>:=O:GM:@>H?MA>L<:E:;E>K:G=?E>QB;BEBMRIKHOB=>=MAKHN@AMA>L>
L>KOB<>L
$G=NLMKRHEE>HNKKLPBMA:<<>LLMH:;KH:=>KL>E>LDLHENMBHGL:G=L>KOB<>L
LBFIEB?RBG@MA>KL^:;BEBMRMH;>G>?BM?KHF:M>L>MH?MHHEL?HKMA>BKBG=NLMKR


/HLNIIHKMHNKLMK:M>@B<IKBHKBMRH?=B@BM:EMK:GL?HKF:MBHGBGK G@BG>>KBG@:G=HGLMKN:K>
LMK>G@MA>GBG@HNK LHENMBHGL^?HNG=:MBHGPBMA;HMAHK@:GB<:G=BGHK@:GB<BGO>LMF>GML$G?BL<:EP>E:NG=MA>?BKLM
L>MH?<:I:;BEBMB>LBGNMH=>LD!HKF::GBG=NLMKRLPHKD?EHPL:M>:FLMA:M=>LB@G;NBE=:G=HI>K:M>
MA>;NBEM>GOBKHGF>GMNMH=>LD!HKF:^LBGBMB:E<:I:;BEBMB>L>G:;E>MA>>:KER
LM:@>IE:GGBG@:G==>LB@GIKH<>LLPBMA:NMHF:MBHG
:G=$
IHP>K>=BGLB@AMLMA:MLBFIEB?RMA>>QIEHK:MBHGH?=>LB@GIMLH??EH:=K>I>MBMBO>M:LDL:G=A>EI>O:EN:M>
>GOBKHGF>GM:EJN:EBMB>LLNKKHNG=BG@:;NBE=BG@LBM>$G?BL<:EP>:=:=>QM>G=>=K>:EBMR3-	
IE:M?HKF>G:;EBG@ IKH?>LLBHG:ELMHIK>L>GM:G=K>OB>PIKHC>KLBO>:G=BGM>K:>QI>KB>G<>L?KHF
:GRPA>K>:G=:M:GRMBF>/ABL:G:;E>LNMH=>LDMHF>>MBG:LBG@G>>=L?HK:N@F>GM>=K>:EBMR-	:G=OBKMN:E
K>:EBMR1-	M>F>GMLPBMABGMA> BG=NLMKR:G=?NKMA>KLNIIHKM KLMAKHN@AHNMMA>IKHC>EBO>KREB?>$G?BL<:EP>:=.MHKF0&#HE==MA>I:K>GMH?$GGHORS>$G<[$GGHORS>\	PABLP:M>KBG?K:LMKNLH?MP:K>HF;BGBG@$GGHORS>^LAR=K:NEB<FH=>EBG@LBFNE:MBHG:LL>MI>K?HKF:G<>F:G:@>F>GM
:G=HI>K:MBHG:E:G:ERMBLD^L=>LB@G:G=:G:ERLBLLHENMBHGLBGLDBOBENMH=>LD
$G?K:2HKDL:G=MA>NMH=>LDHGLMKNG:;E>LNLMH=>EBO>K>G=
MH
>G==LHENMBHGL?HKHNKP:M>K
BG?K:LMKNKLMA:M=KBO>>??BGK::=
>LMBF:MBG@LHENMBHGMA:M>G:;E>L:FLMH:M>>LMBF:M>LI>K?HKF=B@BM:EM:D>H??L@>G>K:M>=>M:BE>=K>IHKML:G=
IKHIHL:EL:G=F:G:@>;B=
=:RIKH<>LL>L==BMBHG:EERBG?BL<:EP>E:NG=NMH=>LD/:G=>F:==B@BM:E
MPBGM>QM>G=L=B@BM:EIKHC>EBO>KR;RIKHOB=BG@HPG>KHI>K:MHKLPBMA:G>:LRMHNL>:<
=B@BM:E:L
;NBEMFH=>EH?:G>PER;NBEMHKK>GHO:M>=?:E>K:M>LHI>K:MBHG:EK>:=BG>LL:G=>QM>G=LMA>O:EN>H?$(
=HPGLMK>:FBGMHMA>HPG>KHI>K:MHKL>@F>GM
$GF:GN?:@RBLMHHK@:GB<:G=:=LH?MP:K>BG>QBLMBG@:G=:=C:<>GMO>KMB<:ELMH:M>
>G=
MH
>G==LHENMBHGL?HKHNKKLMA:M=KBO>>??BGMH:MMK::=>KL:G==BLKNIMBO>LM:KMNILPBMAHNK@>G>K:MBO>=>LB@G:G==!NLBHGMA:MK@>LMA>=>LB@G
IKH<>LLPBMAF:GN?::=:IKHOB=>KH?LBFNE:MBHGM>G:;E>L?:GM>KHI>K:MHKLMHHIMBFBS>MA>BKIKH<>LL>L$G?BL<:EP>:=:F:D>KH?LH?MP:K>?HKHIMBFBSBG@F:GN?:LL>LPBMA:NMHF:MBHG:G==B@BMBS:MBHG?KHFMA>LAHI?EHHKNIP:K=MA:MIKHOB=>L:K>:E
MBF>LRLM>FH?K>F>GM:G=:G:ERLBL$G?BL<:EP>:=0I==:M:F:G:@>F>GM
M>LB@G:G=F:GN?:KLMHBGMA>BKO:EN>M?:LM>K
*NKLMK:M>@RBGLBFIKHOBG@HNKIKH=NQI:G=BG@HNKIKH=NKBG@LMAKHN@ABGM>KG:E
=>O>EHIF>GM:LP>EE:LMAKHN@AMA>:LL>LGBG:L>MA>LI>>=:M
PAB<:G=>EBO>KIKH=NKLAHP>O>KMA>R>GM:BE@K:MBHGG@>L:G=F:RBG
<>KM:BGBGLM:G<>LG>@:MBO>ERBFI:K:MBG@F:K@BGL2>OB>PMA>L>?:@:K=BG@
::GMBMA:MP>PBEEMH:IKH=NLL>L:LEEBG@HIIHKMNGBMB>L
;>:O:BE:;E>


8;.-8'1-/4
2>L>EEHNKIKH=NKOB<>L@EH;:EERMAKHN@A:EL*NK=BK>EL
BG;NM:K>GHMEBFBM>=MHBGM>KG:EL:E>LK>LHNK<>L?H=HGL>EEBG@HNKAB@AERLI>=LHENMBHGLBGHNKE:K@>LM
:<KL?H=HGL>KOBG@<>KM:BG!E>Q:G=LN;LKLMAKHN@AHNKG>PMK:GL:E
:G=;NLBG>LLMK:GL:=MAKHN@AHNKHGEBG>NMH=>LD;K:G=>=LMHK>*NKBG=BK>ELIKBF:KBERBGO:EN>:==>=
=BLMKB;NMHKLO:EN>:==>=K>L>EE>KL=BK>MK>L>EE>KLOHENF>EI:KMG>KL:G=IKH=NL>EE>KLNKBG@?BL<:E
P>>GM>K>=BGMHMK:GLBMBHG:@K>>F>GMLPBMA<>KM:BGH?HNK=BLMKB;NMHKLBGQ:G=$G@K:F(B
MK:GLBMBHG=BLMKB;NMBHG:L?HK:HG>
MH
MPH
R>:KI>KBH=PBMAIHM>GMB:E>QM>GLBHGL$GMK:GLBMBHG
:@K>>F>GMLNMH=>LDBGM>G=LMHBG:L>BMLL>EEBG@>??HKMLPBMAO:EN>
:==>=K>L>EE>KL:G=.HENMBHG+KHOB=>KL2>BGMKH=N<>=:
G>PMK:GL:E?HKHNKMHD>G
;:L>=!E>QH??>KBG@BG)HKMAF>KB<::G=<>KM:BGLBG ( :G=+:G=?HK
FHLMH?HNKLN;LKBG@LBGNLMK:EB:=NKBG@?BL<:EPA>K>;REI:KMG>KLIKHOB=>:JNHM>MHKL;NM
MA>:MP>>GNMH=>LD:G=MA>K>I>G=>GMNIHGLN<<>LL?NEBFIE>F>GM:MBHGBG
NLMK:EB:P>BGM>G=MHMK:GLBMBHGHNKBG=BK>LLMHMA>G>PMK:GL:EBGHNKF:CHKF:KD>ML@EH;:EERBG?BL<:E
:G=?BL<:E2>>QI>BG:<LBG<>GMBO>LMHBG=BK>EL?KHFO>GN>MH
HI>K:MBG@>QI>GL>LNG=>KMA>G>PMK:GL:EMHIHLBMBO>ERBFI:=K>O>GN>@KHPMAPABE>;>BG@;KH:=ER
G>NMK:EMH<:E=HI>K:MBG@IKH?BM:G=?K>><:LA?EHP=HEE:KL:G=MHK>LNEMBG:<:E=G>@:MBO>BFI:K:MBG@
F:K@BG.>>+:KM$$$M>F)HM>->O>GN>->)HM>LMHMA>HGLHEB=:M>=!BG:GF>GML?HK?NKMA>K
=>M:BEHGMA>K>LNEMLH?HNKBG=BK>EL:E>L?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=
2>:GMBMA:MHNKEFBQPBEEMH:LP>L<:E>HNK;NLBG>LL2BMAMA>=@KHPMAH?HNK
HGEBG>NMH=>LD;K:G=>=LMHK>MA>MK:GLBMBHGMH:GGN:E;BEEBG@L?HKFNEMB
R>:KPMHD>G
;:L>=!E>QFH=>E
:G=MA>BGMKH=NPMK:GL:EP>:K>MK:GL:>G=KLK:MA>KMA:GMAKHN@A
=BLMKB;NMHKLPBMAHNMLN;LM:GMB:E=BLKNIMBHGMHHNKK>O>GN>2>>QI>EPBEEMHMK:GL:K:;E>IHKMBHGH?HNKKL2>:ELH>QI>:K
MBFBG@H?HNK;BEEBG@L:G=<:LA>FIEHR:O:KB>MRH?BG<>GMBO>IKH@K:FL:G=IKHFHMBHGLMH:EB@GHNK=BK>ELPBMAHNK;NLBG>LLLMK:M>@B>L
%8-@2;>9-<-.585@51?
2>:K>;NBE=BG@:MKNLM>=HNM
?H=IE:M?HKF?HKKPHKD?EHPLMA:M>G:;E>L>G=
MH
>G==B@BM:E
MK:GL?HKF:MBHG?HKHNKKL:G=I:KMG>KLPBMABG:G=;>MP>>GMA>BG=NLMKB>LP>L>KO>2>:BFMH:<<>E>K:M>MA>L>K
PHKDEH:=L;RIKHOB=BG@@K:GNE:KBGM>KHI>K:;E>:G=:<<>LLB;E>=:M:
2>IE:GMH=HMABL;R?HG>QM@>G>K:MBHGH?M>KOB<>L:LMKNLM>=LA:K>=<:I:;BEBMB>L
2>:BFMH<>GMK:EBS><:I:;BEBMB>L:RH??>KBG@L/A>L>BG?HNG=:MBHG:E<:I:;BEBMB>LMHF:D>
HNKH??>KLL:?>K?:LM>K>:LB>K:G=@EH;:EERL<:E:;E>:LP>EE:L<:I:;BEBMB>LMA:M<:G:<<>E>K:M>G>PLHNK<>LH?O:EN>?HKHNK
KL
*G>>Q:FIE>H?MA>L>LA:K>=<:I:;BEBMB>LBLNMH=>LD$2>A:O>;>>GBGO>LMBG@BG$?HKHO>K:=><:=>*NK?HLMA:M:==O:EN>MHHNKKL^PHKDEH:=LMAKHN@A:N@F>GM:MBHG:NMHF:MBHG:G=:G:ERLBL
*G>H?HNKD>RLMK:M>@B>LBLMHF:BGM:BG:G+$;:L>=:KH?HNKLH?MP:K>IKH=NMABK=
I:KMR
=>O>EHIF>GMH?F>GM:KRIKH=NLHENMBHGL/ABL:IIKH:G:;E>LKL:G=MABK=
I:KMB>LMHLHENMBHGL?HK:PB=>O:KB>MRH?AB@AERLI>L2>H??>KL>O>K:EIKH@K:FLMA:MIKHOB=>LMK:M>@B<
BGO>LMF>GM?NG=BG@M>KLM>O>GMLMH=>O>EHI>KLPAH
=>O>EHI:==
HG:IIEB<:MBHGL?HKHNKIKH=NQ:FIE>P>A:O>>LM:;EBLA>=MA>NMH=>LD+E:M?HKF.>KOB<>LMHLNIIHKM
BGGHO:MHKLMA:M;NBE=LHENMBHGLMH?:MA>=>O>EHIF>GMH?:LBG@E>=>F?HKMA>?NMNK>H?AHPMABG@L:K>
=>LB@G>=F:=>:G=NL>=
$G:==BMBHGMHMA>MBMBO>:=O:GM:@>L:??HK=>=;RHNKM>@EH;:EG>MPHKDH?=BLMKB;NMHKLK>L>EE>KL
.HENMBHG+KHOB=>KLMABK=
I:KMR=>O>EHI>KLKL>=N<:MHKL>=N<:MBHG:EBGLMBMNMBHGLE>:KGBG@I:KMG>KL:G=LMN=>GMLBL:
D>RMBMBO>:=O:GM:@>MA:MA:L;>>G=HO>K:G>QM>GLBO>I>KBH=/ABLG>MPHKDH?I:KMG>KL:G=K>E:MBHGLABIL
IKHOB=>LNLPBMA:;KH:=:G==>>IK>:F:KD>MLPHKE=PB=>*NK=BLMKB;NMHKK>L>EE>K:G=.HENMBHG+KHOB=>K
G>MPHKDBL>QM>GLBO>:G=IKHOB=>LHNKKLPBMAMA>K>LHNK<>LMHINK=>IEHRE>:KG:G=LNIIHKMHNKLHENMBHGL
JNB:LBER2>A:O>:LB@GB?B<:GMGNF;>KH?K>@BLM>K>=MABK=
I:KMR=>O>EHI>KLPAH:M>IKH=NEEPBMA
HNKLHENMBHGL:G=>QM>G=MA>FMH:O:KB>MRH?LI>=:IIEB<:MBHGL
9<-/@-@A@;01?7


NMH=>LDBL=MH:=O:GLNLM:BG:;E>K>LBEB>GM:G=>JNBM:;E>PHKE=2>=HG^M;>EB>O>BGP:BMBG@?HK
IKH@K>LLP>;>EB>O>BGF:DBG@BM2>M:D>:LL:G=LNIIHKMHNK>FIEHR>>LKL:G=LBGHNK
HIIHKMNGBMRMH=>LB@G:G=F:D>:;>MM>KPHKE=?HK:EE
2>?H??HKMLMH:=O:G<>IHLBMBO>HNML:>IKBF:KR:K>:L>G>K@R:G=F:M>KB:ELA>:EMA:G=K>LBEB>G<>
:G=PHKD:G=IKHLI>KBMR/A>L>BFI::L:K>=>KBO>=?KHFMA>0).NLM:BG:;E>>O>EHIF>GM"H:EL[."L\	
:G=A:O>;>>G?H=MAKHN@A:FNEMB
IKHG@>=IKH<>LLMH:EB@GMA>MHIG>>=LH?HNKLM:D>AHE=>KLMA>BFIHKM:GMBLLN>LH?HNK
;NLBG>LL:G=MA>:K>:LP>:K>;>LMIE:<>=MH:<<>E>K:M>IHLBMBO>BFI:
/A>L>HIIHKMNGBMB>LF:GB?>LM:LHNMLMAKHN@AAHPHNKKLE>O>K:@>HNKM>LB@G:G=F:D>G>M
S>KH<:K;HG;NBE=BG@LK>LBEB>GMBG?K:LMKNFHK>LNLM:BG:;E>IKH=N2>K>:EBS>MA>L>
HIIHKMNGBMB>LMAKHN@AIHP>KBG@HNK;NLBG>LLPBMAK>G>P:;E>>G>K@RG>NMK:EBSBG@@K>>GAHNL>@:L>FBLLBHGL:G=
=>O>EHIBG@:GBG2>:=O:G<>MA>L>HIIHKMNGBMB>LPBMABG=NLMKRBGGHO:MHKLMAKHN@A=HG:MBHGL:G=MK:BGBG@
/A>NMH=>LD!HNG=:MBHGMA>[!HNG=:MBHG\	:IKBO:M>ER?NG=>=<		LM:;EBLA>=:G=LHE>ER
?NG=>=;RNLE>:=LHNKIABE:GMAKHIB<>??HKML/A>INKIHL>H?MA>!HNG=:MBHGBLMPH?HE=MHLNIIHKM>FIEHR>>LMH:M>:;>MM>K
PHKE=:MPHKD:MAHF>:G=BGMA>FIEHR>>L^OHENGM>>KMBF>:G==HG:MBHGLMHGHGIKH?BM
HK@:GBS:MBHGL:G=MHLNIIHKMHK@:GBS:MBHGLNLBG@=>LB@G:G=F:D>LHENMBHGLMH=KBO>IHLBMBO>LHGOBKHGF>GM:EBFI:A:E?MA>!HNG=:MBHG:ELH:=FBGBLM>KL:=BL=LH?MP:K>=HG:MBHGIKH@K:FMHGHGIKH?BMHK@:GBS:MBHGLLHGOBKHGF>GM:E>GMK>IK>G>NKL:G=HMA>KLPAH:K>=>O>EHIBG@=>LB@GLHENMBHGLMA:MPBEEMK:GL?HKFBG=NLMKB>L:G=A>EILA:I>:
;>MM>KPHKE=?HK:EE
==BMBHG:EBG?HKF:MBHG:;HNMHNK>GOBKHGF>GM:ELHKG:G<>IKH@K:FBL:O:BE:;E>BGHNK:GGN:EBFI:IHKM
HGHNKP>;LBM>:MPPP:NMH=>LD=HGHK:<<>LLB;E>MAKHN@AHNKP>;LBM>BLGHMI:KMH?HKBG=
;RK>?>K>G<>BGMHMABLK>IHKM
??A9<@5;:?145:0$A>(@>-@13E
*NKLMK:M>@R=>I>G=LNIHGF:GR:LLNFIMBHGLBGMHF:BGLMK>:FF:KD>ML
E>O>K:@BG@HNKE:K@>@EH;:EG>MPHKDH?=BLMKB;NMHKLK>L>EE>KL:@>GMLMABK=
I:KMR=>O>EHI>KLKL>=N<:MHKL>=N<:MBHG:E
BGLMBMNMBHGLE>:KGBG@I:KMG>KL:G=LMN=>GMLBFIKHOBG@MA>I>K?HKF:G<>:G=?NGJN:M>ERIKHM>EE>KMR$?MA>HNMH?:GRH?MA>L>:LLNFIMBHGL=B??>KL?KHFHNK>QI>
F:RGHM;>:;E>MHBFIE>F>GMHNKLMK:M>@RPABGMB:EER:=O>KL>ER:??>LL!HK?NKMA>K=BL@:K=BG@MA>L>:G=K>E:M>=KBLDLL>>+:KM$$M>F[-BLD!:;KN:KRNMH=>LD:=+:R:IIL'BFBM>=[+:R:IIL\	:E>:=BG@=LH?MP:K>IE:M?HKF?HK
F:G:@BG@E:M>=I:RF>GML/ABL:>I>GNMH=>LDHGLMKN:
KH;NLMI:RF>GMF:G:@>F>GMH??>KBG@MHL>KO>MA>G>>=LH?@>G>K:E
:IIEB<:MBHGH?MA>I:RF>GMIKH<>LL+:R:IIL^LHENMBHGIKHOB=>L@K>:M>KMK:GLI:K>G=N<>LKBLD:G=A>EIL:<<>E>K:M>MBF>
MH
I:RF>GM
*G(:KLD:=MA>+$3;NLBG>LLH?33''[+$3\	:IKH=NF>GMLHENMBHG?HK
L>K>OB>P:G=GMF>=B::G=>GM>KM:BGF>GMBG=NLMKR/A>:EI?HLM>K;KH:=>K
EE:LA>EI=KBO>@K>:M>K>??BGLBGMA>IKH=NLL
.>>+:KM$$$M>F)HM>[.N;L>JN>GM O>GML\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK?NKMA>K
=BL=!BG:GF>GML:K>IK>I:K>=BG:<PBMA0.@>G>K:EER:<<>IM>=:<L$G
IK>I:KBG@HNKHGLHEB=:M>=!BG:GF>GMLP>F:D>:LLNFIMBHGLCN=@F>GML:G=>LMBF:M>LMA:M<:GA:O>:LB@GB?B<:GM
BFI:IHKM>=BGHNKHGLHEB=:M>=!BG:GF>GML2>>O:EN:M>HNK>LMBF:M>L:G=:LLNFIMBHGLHG:G
HG@HBG@;:LBL2>;:L>HNK:LLNFIMBHGLCN=@F>GML:G=>LMBF:M>LHGABLMHKB<:E>QI>KB>G<>:G=O:KBHNLHMA>K?:
;>EB>O>MH;>K>:LHG:;E>NG=>KMA>LLNEMLKF:M>KB:EER?KHFMA>L>>LMBF:M>LNG=>K=B??>K>GM
:LLNFIMBHGLHKL:K>=>L=BG+:KM$$$M>F[!BG:GF>GML:G=.NIIE>F>GM:KR:M:\)HM>
[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GMLG
:<>F>=MH;>JNBK>L:G:<LMBF:M>MH;>F:=>;:L>=HG:LLNFIMBHGL:;HNMF:MM>KL
MA:M:K>AB@AERNG<>KM:BG:MMA>MBF>MA>>LMBF:M>BLF:=>B?=B??>K>GM>LMBF:M>LK>:LHG:;ER;>>GNL>=HKB?L
BGMA>>LMBF:M>MA:M:K>K>:LHG:;ERIHLLB;E>KB:EERBFI:?BG:GF>GML2>;>EB>O>MA:MH?:EEHNK
LB@GB?B<:GM:<LMA>?HEEHPBG@:<L:G=LI>LMBF:M>LBGOHEO>:@K>:M>K=>@K>>H?CN=@F>GM
:G=QBMR<L>:K>MA>:<LP>;>EB>O>:K>MA>FHLMKLM:G=BG@:G=
>O:EN:MBG@HNK?BG:GLNEMLH?HI>K:MBHGL
'1B1:A1'1/;3:5@5;:A0391:@?C5@4"A8@5<81%1>2;>9-:/1$.853-@5;:?*NKKLF:RBG
IKHFBL>LMHMK:GL?>KFNEMBIE>IKH=NKOB<>LMH:KI>K?HKF:G<>H;EB@:MBHGBL:IKHFBL>BG:KMHMK:GL?>KIKH=NKOB<>LMA:M:K>=BLMBGM>KFBGBG@PA>MA>KIKH=NKOB<>L:K>=BLMBGK?HKF:G<>
H;EB@:MBHGLMA:MLAHNE=;>:<=?HKL>I:K:M>ERHK=:L:LBG@E>I>K?HKF:G<>H;EB@:MBHGF:RK>JNBK>LB@GB?B<:GM
CN=@F>GMMA:MK>JNBK>LNLMH:LL>LLMA>G:MNK>H?MA>IKHFBL>:G=O:EN>=>EBO>K>=MHMA>K:G=MA>BGM>K:
=>LDMHI:IIEB<:MBHGL:G=L
!HKHNKIKH=NKOB<>H??>KBG@L:G=?E>QB;E>>GM>KIKBL>;NLBG>LL:KK:G@>F>GMLMA>?NGH?MA>IKHFBL>:LP>EE:LMA>KL^O:EN>>QI>=NLMH=>LDMHI:IIEB<:MBHGL:G=L:K>GHM=BLMBGQMH?MA>:<=?HK:L:LBG@E>I>K?HKF:G<>H;EB@:MBHG
/A>K>BL:AB@A=>@K>>H?BGM>K:=>LDMHI:IIEB<:MBHGL:G=LPABPBMAMA>
=>LDMHI:IIEB<:MBHGL:EHG>HKBGKOB<>IKHOB=>KL!NKMA>KFHK>KL:K>GHM:;E>MH
NL>MA>=>LDMHI:IIEB<:MBHGL?HKBMLBGM>G=>=INKIHL>PBMAHNMHNKL
!HKMA:GHG>I>K?HKF:G<>H;EB@:MBHGMA>MK:GL:BL:EEH<:M>=:FHG@MA>I>K?HKF:G<>
H;EB@:MBHGLBG:G:FHNGMMA:M=>IBK>E:MBO>LM:G=:EHG>L>EEBG@IKB<>[..+\	H?>:GMBLK>JNBK>=MH
=>M>KFBG>MA>..+?HK>:K?HKF:G<>H;EB@:MBHG2>NL>:K:G@>H?:FHNGMLMH>LMBF:M>..+PA>GP>L>EE>:IKH=NKOB<>LL>I:K:M>ER:G=G>>=MH=>M>KFBG>PA>MA>KMA>K>BL:=BL:EEH<:M>=;:L>=HGMA>
K>E:MBO>..+H?MA>O:KBHNLIKH=NKOB<>L
2>>LM:;EBLA..+?HKFHLMH?HNKIKH=NKOB<>L;:L>=HGH;L>KO:;E>IKB<>LPA>GLHE=L>I:K:M>ERBGLBFBE:K
LMHLBFBE:KKL$GBGLM:G<>LPA>K>..+BLGHM=BK>KO:;E>LNGP>=HGHML>EEMA>IKH=NKOB<>L>I:K:M>ERP>=>M>KFBG>MA>..+NLBG@BG?HKF:MBHGMA:MBGLF:KD>MKH;L>KO:;E>BGINML2>
MRIB<:EERA:O>FHK>MA:GHG>..+?HKBG=BOB=N:EIKH=NKOB<>L=N>MHMA>LMK:MB?B<:MBHGH?MAHL>IKH=NKOB<>L;R
K:G=$GMA>L>BGLM:G<>LP>NL>K>E>O:GMBG?HKF:MBHGLNIKH=NHKL:E>LEMH
=>M>KFBG>MA>..+
(@>-@135/:B1?@91:@?.MK:M>@B<BGO>LMF>GM=>;M:G=>JNBMRL>L:K>O:EN>=NLBG@LB@GB?B<:GMNGH;L>KO:;E>BGINMLHK
=:M:BG:GBG:F:KD>M:G=MA>O:EN:MBHGK>JNBK>LHNKCN=@F>GM=N>MHMA>:;L>G<>H?F:KD>MIKB<>L:G=BGA>K>GME:<:KKRBG@O:EN>BL:=CNLM>=?HKHNKLMK:M>@B<BGO>LMF>GM>JNBMRL>LB?MA>K>:K>H;L>KO:;E>IKB<>LBG:
L:F>HKLBFBE:KL>L:F>BLLN>KHKB?MA>K>:K>B=>GMB?B>=>O>GMLHKLBGLMA:MF:RBG=B<:M>
BFI:BKF>GM:L=BL=;>EHP/A>=>M>KFBG:MBHGH?PA>MA>K:GHK=>KERMK:GL:HKLBFBE:KBGO>LMF>GM
K>JNBK>LLB@GB?B<:GMF:G:@>F>GMCN=@F>GMBGG:MNK>H?KB@AML:G=H;EB@:MBHGLH?MA>BGO>LMF>GMLMA>>QM>GMMHPABK>G<>LBGMAHL>KB@AML:G=H;EB@:MBHGLPHNE=:??>?:BKO:EN>LH?MAHL>BGO>LMF>GML:G=MA>BFI:K>G<>L
;:L>=HGMA>LM:@>H?HI>K:MBHG:E=>O>EHIF>GMH?MA>BGO>LM>>
/A>L>:LLNFIMBHGL:K>BGA>K>GMERLN;C>:G=BGOHEO>LB@GB?B<:GMF:G:@>F>GMCN=@F>GM2A>G>O>KIHLLB;E>P>NL>
H;L>KO:;E>F:KD>M=:M::G=K>ERHGNGH;L>KO:;E>BGINMLHGERPA>GH;L>KO:;E>F:KD>M=:M:BLGHM:O:BE:;E>PA>G=>M>KFBGBG@
?:BKO:EN>
2>:LL>LLHNKLMK:M>@B<BGO>LMF>GM=>;M:G=>JNBMRL>LIHKM?HEBHJN:KM>KER?HKBFI:BKF>GM.MK:M>@B<BGO>LMF>GM
>JNBMRL>L:K>:LL>LL>=;:L>=HG:O:BE:;E>BG?HKF:MBHGLNGM<:LAIHLBMBHGL>:KGBG@L:G=<:LA?EHP?HK><:LML
K><>GMHI>K:MBHG:EI>K?HKF:G<>:G=:GRHMA>KK>:=BER:O:BE:;E>F:KD>M=:M:!HK:GR:O:BE:;E>
?HK
L:E>=>;ML>LB?
NMH=>LD=H>LGHMBGM>G=MHL>EE:G=BMBLGHMFHK>EBD>ERMA:GGHMMA:MNMH=>LDPBEE;>K>JNBK>=MHL>EEMA>:O:BE:;E>
?HK
L:E>
=>;ML>KRH?BML:FHKMBS>=LDPBEE=>M>KFBG>PA>MA>K:=>BG?:BKO:EN>;>EHPMA>
:FHKMBS>=MH=BM
K>E:M>=?:=BMEHLLBLF>:LNK>=:LMA>:FHNGM;RPAB=>;ML>=Q<>>=LMA>>LMBF:M>H?MA>IK>L>GMO:EN>H?<:LA?EHPL>QI>=MH;>=NIMHMA>=B??>K>G<>
;>MP>>GMA>:FHKMBS>=?:BKO:EN>$FI:BKF>GMPBEE;>:LL>LL>=:MMA>BG=BOB=N:EL>O>EK>=BM
K>E:M>=
BFI:BKF>GMBLK>=:L:G:EEHP:G<>HGMA>HGLHEB=:M>=:E:G<>.A>>MLPBMA:LIHG=BG@:=CNLMF>GMMH[$GM>K>LM:G=


HMA>K>QI>GL>G>M\HGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLGRBFI:BKF>GMMA:MBLGHM=BM
K>E:M>=BL
K>=BG[<=HMA>KA>GLBO>EHLL\HGMA>HGLHEB=:M>=:E:G<>.A>>ML
!HKHNKJN:KM>KERBFI:BKF>GM:LL>LLF>GMH?IKBO:M>ERA>E==>;M:G=>JNBMRL>LMA>:G:ERLBL>GL:G
:LL>LLF>GMH?MA>L>O>KBMR:G==NK:MBHGH?MA>BFI:BKF>GM:G=JN:EBM:MBO>:G=JN:GMBM:MBO>:G:ERLBLH?HMA>KD>R?:BGO>LM>>^L?BG:GMKBBGO>LM>>^LIKH=NLF>>MBG@HK>Q<>>=BG@IK>=>?BG>=
FBE>LMHG>LF:KD>M:<<>IM:G<>H?MA>IKH=NKMBMBO>IKH=NF:KD>M@>G>K:E
F:KD>MF>GM:G=@HO>KG:G<>LMKNH?MA>BGO>LM>>MA>BGO>LM>>^LEBJNB=BMR=>;MK:MBHL:G=MA>K:M>:M
PABBGO>LM>>BLNLBG@BML<:LA
A?5:1??;9.5:-@5;:?/A>:LL>ML:=:G=EB:;BEBMB>L:LLNF>=BG:;NLBG>LLK>=;:L>=HGMA>BK
>LMBF:M>=?:BKO:EN>L:MMA>:PBMAMA>>Q<>IMBHGH?ML:G=LB>=>?>KK>=K>O>GN>	
PABK>=:G=F>:LNK>=HGMA>:BG:<PBMANMH=>LD^L[->O>GN>->F[!BG:GF>GML:G=.NIIE>F>GM:KR:M:\)HM>[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\GRK>LB=N:EINKIKB<>BLK>=:L@HH=PBEE<LLJNBK>LNLMHF:D>
LB@GB?B<:GM>LMBF:M>L:G=:LLNFIMBHGL>LI>:PBMAK>LI>:LL>ML
EMAHN@AP>;>EB>O>MA>:LLNFIMBHGL:G=>LMBF:M>LP>A:O>F:=>:K>K>:LHG:;E>MA>R:K>;:L>=BGI:KMHGABLMHKB<:E
>QI>KB>G<>:G=BG?HKF:MBHGH;M:BG>=?KHFMA>F:G:@>F>GMH?MA>:=L:G=:K>BGA>K>GMERNG<>KM:BG:G=
NGIK>=B0G:GMB=>O>GML:G=LF:RH<:<LMBF:M>LHK:LNEML Q:FIE>LH?LMBF:M>LNL>=BGO:ENBG@<>KM:BGH?MA>BGM:G@B;E>:LL>ML:G=BG
=>M>KFBGBG@MA>:LL>ML^NL>?NEEBO>L?HKMA>:LL>MLP>A:O>:=HKF:R:BGMA>?NMNK>BG;NM:K>GHMEBFBM>=MH
X
?NMNK>>QI>=<:LA?EHPL?KHFLN;LG:G<>:@K>>F>GMLL:E>L:G=:==>O>EHI>=
M>L
X
MA>:=G:F>:G=I:M>GML:LP>EE:L:LLNFIMBHGL:;HNMMA>I>KBH=H?MBF>MA>:=MK:=>
G:F>:G=I:M>GMLPBEEMH;>NL>=BGHNKIKH=NQI>=@KHPMABGK>O>GN>?KHFMA>:=QBLMBG@KK>E:MBHGLABIL
X
>QI>=O>EHIMA>BG
IKH<>LLK>L>:KO>EHIF>GMBGMHKIKH=NLMBF:M>=
<:LA?EHPL?KHFMA>IKHC>GM>=
X
NG<>KM:BGM:QIHLBMBHGL:G=M:QK>E:M>=O:EN:MBHG:EEHP:G<>L:LLNF>=:G=
X
=BLLNL>=MH=>M>KFBG>MA>IK>L>GMO:EN>H?>LMBF:M>=?NMNK><:LA?EHPL
'1-85F-.585@E;2:@-:35.81??1@?2>:LL>LLMA>K>:EBS:;BEBMRH?HNKBGM:G@B;E>:LL>MLHMA>KMA:G@HH=PBEEJN:KM>KERHK
LHHG>KLAHNE=>O>GMLHKLBGLBG=B<:M>MA><:KKRBG@O:EN>LH?LNMLF:RGHM;>K>K:;E>2>
KMA>?HEEHPBG@?:M>KFBGBG@PA>GMHI>K?HKF:GBFI:BKF>GMK>OB>PLB@GB?B<:GMNG=>K
I>K?HKF:G<>
H?:;NLBG>LLHKIKH=NK>E:MBO>MH;N=@>MLAB?MLBG;NLBG>LLLMK:M>@B>LPAB=NL>LH?MA>:LL>ML
LB@GB?B<:GMG>@:MBO>BG=NLMKRHK>G=L:G=MA>K>LNEMLH?I:LMBFI:BKF>GMK>OB>PL2A>GLNO>GMLHKLBG
LH<:LL>LLK>K:;BEBMRH?MA>L>:LL>ML
2>:LL>LLK>K:;BEBMRH?MA>L>:LL>ML;R<:KKRBG@:FHNGMLMHMA>?NMNK>NG=BL=<:LA?EHPLMA>
:LL>ML:K>>QI>=MH@>G>K:M>$?BFI:BKF>GMBG=B<:MHKLP>K>IK>L>GM;:L>=HGHNKNG=BL=<:LA?EHPFH=>ELPAB:LLNFIMBHGLK>@:K=BG@IKHC>=<:LA?EHPLP>PHNE=I>K?HKF:=BL=<:LA?EHP:G:ERLBLMH:LL>LLBFI:BKF>GML
HGBGM:G@B;E>:LL>ML
/A>D>R:LLNFIMBHGLMA:MP>NL>BGHNK=BL=<:LA?EHPFH=>EBGMA>:FHNGM:G=MBFBG@H?>LMBF:M>=?NMNK>
<:LA?EHPLMH;>@>G>K:M>=;RMA>:LL>M@KHNIHO>K:G>QM>G=>=I>KBH=H?MBF>:G=:K:M>H?K>MNKGMA:MKLMA>K>E:MBO>KBLD
H?:OBG@MA><:LA?EHPL:G=MA>MBF>O:EN>H?FHG>R.B@GB?B<:GMCN=@F>GMBLK>JNBK>=MH>LMBF:M>MA>:FHNGM:G=MBFBG@H?
?NMNK><:LA?EHPL:G=MA>K>E:MBO>KBLDH?:OBG@MAHL><:LA?EHPL2>:ELHF:D>CN=@F>GML:;HNMMA>K>F:BGBG@NL>?NEEBO>L
H?:=BGM:G@B;E>:LL>ML:G=HMA>KBGM:G@B;E>:LL>MLMA:MA:O>?BGBM>EBO>L
1:KB:G<>LBGMA>L>:LLNFIMBHGL:LB@GB?B<:GMBFI:MA>K:G:LL>MBLBFI:BK>=HK
MA>:FHNGMH?:GRBFI:BKF>GM$FI:BKF>GMLB?:GRK>LNEMBGLBMN:MBHGLPA>K>:GR?:BKO:EN>LH?MA>L>:LL>ML:K>
E>LLMA:GMA>BK<:KKRBG@O:EN>L
:/;91)-D1?2>:<M:Q>LNG=>KMA>:LL>M:G=EB:;BEBMR:IIKH:KMABLF>MAH==>?>KK>=M:Q
:LL>MLBGK>E:M>=MHM:QEHLL<:KKR?HKP:K=L:G==BML:G==>?>KK>=M:QEB:;BEBMB>L:K>=>M>KFBG>=;:L>=HGMA>


=B??>K>G<>L;>MP>>GMA>?BG:GF>GM:G=M:Q;:L>LH?:LL>ML:G=EB:;BEBMB>LNLBG@>G:=M:QK:M>LBG>??>R>:KBG
PAB=B??>K>G<>L:K>>QI>=MHK>O>KL>2>K>MA>M:Q;>G>?BM?HK:GNG<>KM:BGM:QIHLBMBHGPA>GBMF>>MLMA>FHK>
EBD>ERMA:GGHMMAK>LAHE=?HKK>K>IHM>GMB:E:<=BGM>K>LM:G=I>G:EMB>LK>E:M>=MHNGK>=M:Q
;>G>?BML:LBGM:Q>QI>GL>
O:EN:MBHG:EEHP:G<>BLK>=MHK>=N<>=>?>KK>=M:Q:LL>MLPA>GF:G:@>F>GM<:GGHMMA:MBMBLFHK>EBD>ER
MA:GGHMMA:MMA>=>?>KK>=M:Q:LL>MPBEE;>K>K>=/A>O:EN:MBHG:EEHP:G<>BL=>M>KFBG>=;R:LL>LLBG@;HMAIHLBMBO>:G=
G>@:MBO>>OB=>G<>MH=>M>KFBG>PA>MA>KBMBLFHK>EBD>ERMA:GGHMMA:M=>?>KK>=M:Q:LL>ML:K>K>K:;E>LNLLF>GMBL
K>JNBK>=HG:CNKBL=BGMBLK>JNBK>=BG=>M>KFBGBG@PA>MA>KMA>O:EN:MBHG:EEHP:G<>
LAHNE=;>K>=:@:BGLM=>?>KK>=M:Q:LL>ML$G:LL>LLBG@MA>G>>=?HKHKK>E>:L>H?:O:EN:MBHG:EEHP:G<>P>K:EE
:O:BE:;E>>OB=>G<>BGK:MBG@K>LNEML:G=>LMBF:M>LH??NMNK>M:Q:;E>BG
LP>MHHIMBFBS>HNKHO>K:EE;NLBG>LLFH=>EM:QIE:GGBG@LMK:M>@B>LF:R;>?>:LB;E>:G=IKN=>GM
PA>K>;RF:G:@>F>GMF:R=>M>KFBG>MA:MBMBLFHK>EBD>ERMA:GGHMMA:MMA>+HKMN@:E)>P5>:E:G=:EB?HKGB:(:LL:MML
(B?>KK>=M:Q:LL>MLPBEE;>K>:EBS>= :KP>PBEEMH
>O:EN:M>MA>IHLBMBO>:G=G>@:MBO>>OB=>G<>H?HNK:;BEBMRMHNMBEBS>HNK@EH;:E=>?>KK>=M:Q:LL>ML
!;??;:@5:31:/51?L=>L=BG+:KM$$M>F['>@:E+KH<>>=BG@L\:G=+:KM$$$M>F[!BG:GF>GML:G=
.NIIE>F>GM:KR:M:)HM>[HFFBMF>GML:G=HGMBG@>GL\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GMLP>:K>
I>KBH=B<:EERBGOHEO>=BGO:KBHNLE>@:E>=BG@L2>KHNMBG>ERK>OB>PMA>LM:MNLH?>:K:G=
:LL>LLHNKIHM>GMB:E?BG:GQIHLNK>$?MA>IHM>GMB:EEHLL?KHF:GRF:MM>KBLK>=IKH;:;E>:G=MA>:FHNGM<:G;>
K>:LHG:;ER>LMBF:M>=P>K>>LMBF:M>=EHLL.B@GB?B<:GMCN=@F>GMBLK>JNBK>=MH=>M>KFBG>;HMAMA>
EBD>EBAHH=H?MA>K>;>BG@:G=MA>>LMBF:M>=:FHNGMH?:EHLLK>E:M>=MHLNKLN>MHBGA>K>GMNG<>KM:BGMB>LK>E:M>=MH
MA>L>F:MM>KLP>;:L>HNKEHLL:<;>LMBG?HKF:MBHG:O:BE:;E>:MMA>MBF>0GMBEMA>?BG:EK>LHENMBHGH?LNKL
MA>K>F:R;>:G>QIHLNK>MHEHLLBG>Q<>LLH?MA>:FHNGMK>=L:==BMBHG:EBG?HKF:MBHG;>L:O:BE:;E>P>K>:LL>LL
HNKIHM>GMB:EEB:;BEBMR:G=F:RK>OBL>HNK>LMBF:M>L.NOBLBHGL:F:M>KB:EBFI:JN:KM>KERHK:GGN:E
K>LNEMLH?HI>K:MBHGL
*&,$1!++-'-&,!&+,&*+
.>>+:KM$$$M>F[!BG:GF>GML:G=.NIIE>F>GM:KR:M:\)HM>[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM
<L\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK:?NEE=>L<>GM:<F>GMLBG>QI>==:M>LH?:=HIMBHG:G=>LMBF:M>=>??>LNEMLH?HI>K:MBHGL:G=?BG:GMK>O>GN>P:L;BEEBHG=NKBG@?BL<:E:GBG:L>H?=MHMA>IKBHK?BL<:ER>:K
X
->O>GN>:L:I>K<>GM:@>H?G>MK>O>GN>P:L?HK;HMA?BL<:ER>:KL>G=BG@%:GN:KR:G=
X
)>MK>O>GN>K>M>GMBHGK:M>[)-\	P:LPBMABGMA>K:G@>H?:G=HG:G?>KK>=K>O>GN>P:L;BEEBHG:=>:L>H?=MHMA>IKBHK?BL<:ER>:K
X
->F:BGBG@I>K?HKF:G<>H;EB@:MBHGLLAHKM
M>KF:G=EHG@
M>KF=>?>KK>=K>O>GN>IENLNG;BEE>==>?>KK>=K>O>GN>	
[-+*\	P:L;BEEBHG:GBG:L>H?=MHMA>?HNKMAJN:KM>KBGMA>IKBHK?BL<:ER>:K
X
NKK>GMK>F:BGBG@I>K?HKF:G<>H;EB@:MBHGLP>K>;BEEBHG:GBG:L>H?=MHMA>IKBHK?BL<:ER>:K
'1B1:A1:-8E?5?
NKBG@?BL<:EG>MK>O>GN>BG:L>=:L=MHMA>IKBHK?BL<:ER>:KIKBF:KBER=N>MH:BG:L>BG
LN;LO>GN>
!NKMA>K=BL=KBO>KLH?MA>L>K>LNEML:K>=BL=;>EHPNG=>KMA>A>:=BG@[->LNEMLH?*I>K:MBHGL\
2>K>ERLB@GB?B<:GMERNIHGF:CHK=BLMKB;NMHKL:G=K>L>EE>KLBG;HMAMA>0GBM>=.M:M>L:G=BGM>KG:MBHG:EK>@BHGLBGQHKIHK:MBHG:G=BML@EH;:E:??BEB:M>LER[/.RGG>Q\	:G=$G@K:F(BO>GN>?KHF/.RGG>Q:<=?HK:G=H?NMH=>LD^LMHM:EG>MK>O>GN>=NKBG@?BL<:E:G=
K>LI>ER$G@K:F(B=?HK:G=H?NMH=>LDLMHM:EG>MK>O>GN>=NKBG@?BL<:E:G=


K>LI>ER*NKKLMAKHN@A/.RGG>Q:G=$G@K:F(BMA>K>L>EE>KL:G=>G=NL>KLPAHINKHNK
LH?MP:K>LN;LKOB<>LNKBG@?BL<:EP>>GM>K>=BGMHMK:GLBMBHG:@K>>F>GMLPBMA<>KM:BGH?HNK=BLMKB;NMHKL
BGQ:G=$G@K:F(BMK:GLBMBHG=BLMKB;NMBHG:L?HK:HG>
MH
MPH
R>:KI>KBH=PBMAIHM>GMB:E
>QM>GLBHGL$GMK:GLBMBHG:@K>>F>GMLP>BGM>G=MHBG:L>HNKL>EEBG@>??HKMLPBMAO:EN>
:==>=K>L>EE>KL
:G=.HENMBHG+KHOB=>KLBGPMK:GL:EHGL>JN>GMERP>;>EB>O>HNK;NLBG>LLBLGHM
LN;LM:GMB:EER=>I>G=>GMHG/.RGG>QHK$G@K:F(B>5:3'1B1:A1-:0#1@'1B1:A1'1@1:@5;:'-@1
$GHK=>KMHA>EI;>MM>KNG=>KLM:G=HNK?BG:GK?HKF:G<>P>NL>L>O>K:ED>RI>K?HKF:G<>F>MKBO>GN>:G=)-/A>L>F>MKBD>RI>K?HKF:G<>F>MKBOB>P>=BG=>I>G=>GMERH?K>O>GN>:G==>?>KK>=
K>O>GN>:LMA>L>F>MKBGHMBGM>G=>=MH;>=PBMAMAHL>BM>FL2>NL>MA>L>F>MKBLMK>G@MAH?HNK
K>LL2>;>EB>O>MA>L>F>MKBNL>?NEMHBGO>LMHKL;><:NL>MA>R<:GA>EIBGFHGBMHKBG@MA>EHG@
M>KFA>:EMAH?
HNK;NLBG>LL*NK=>M>KFBG:MBHG:G=IK>L>GM:MBHGH?MA>L>F>MKBK?KHFMA:MH?HMA>KL/A>IK>L>GM:MBHGH?
MA>L>F>MKB:GMMH;>K>=BG:==BMBHGMHGHM:L:LN;LMBMNM>?HKHKBGBLHE:MBHG?KHFHNK?BG:G:LNK>L
IK>I:K>=BG:<PBMA"++E>:L>K>?>KMHMA>["EHLL:KRH?/>KFL\?HKMA>=>?BGBMBHGLH?MA>L>F>MKBF
[NLBG>LL\
/A>?HEEHPBG@M:;E>HNMEBG>LHNKK>O>GN>F>MKB<?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=
>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G:C9
>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G:C9
>H86A1:6G
C9:9
"6CJ6GN






->O>GN>5:95885;:?	




 



  
L:I>K<>GM:@>H?G>MK>O>GN>

)
)

)
)

8888888888888888
	
/A>:LLF:R<:NL>O:KB:;BEBMRBGMA>O>GN>BGMABLM:;E>:;HO>:G=K>O>GN>
=>KBO>=?KHFMA>K>O>GN>K>IHKM>=BGMA>HGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL
)-P:LPBMABGMA>K:G@>H?:G=HG:G153:A>>1:/E:-8E?5?
2>@>G>K:M>:LB@GB?B<:GM:FHNGMH?HNKK>O>GN>BGMA>0GBM>=.M:M>L%:I:G">KF:GRMA>0GBM>=&BG@=HF:G=:G:=:
/A>?HEEHPBG@M:;E>LAHPLMA>BFI:B@G>QK:M>LHGHNKG>MK>O>GN>:G=MHM:ELI>G=
>H86A1:6GC9:9"6CJ6GN

(:G8:CI
8=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G6H
G:EDGI:9
DCHI6CI8JGG:C8N
E:G8:CI
8=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G

(DH>I>K:C:<6I>K:
C:JIG6A>BE68I;GDB
;DG:>MK>O>GN>


)>@:MBO>
/HM:ELI>G=


+HLBMBO>
8888888888888888
	
+E>:L>K>?>KMHMA>["EHLL:KRH?/>KFL\BG+:KM$$M>F[NLBG>LL\?HKMA>=>?BGBMBHGLH?HNKGL
A:G@>LBGMA>O:EN>H?MA>0.=HEE:KF:RA:O>:LB@GB?B<:GM>??>MK>O>GN>MHM:ELI>G=BG?KHFHI>K:MBHGL
:G=<:LA?EHPBG?NMNK>I>KBH=L2>NL>?HK>B@GG=N<>MA>>QK:M>>??>G>M
K>O>GN>H?<>KM:BG:GMB=MK:GL:FIMMHM>ERFBMB@:M>MA>BFI:B@G
G0.=HEE:K
'19-5:5:3%1>2;>9-:/1$.853-@5;:?
-+*K>IK>L>GML=>?>KK>=K>O>GN>:G==HK=HK=>KLNG=>K>:KERK>G>P:E:G=FNEMB
R>:K;BEEBG@
IE:GL?HKLN;LKOB<>LEB<>GL>:G=F:BGM>G:G<>?HKPAB:LLH==>?>KK>=K>O>GN>A:LGHMR>M;>>G


K>=0G;BEE>==>?>KK>=K>O>GN>BLGHMBG=:L:K><>BO:;E>HK=>?>KK>=K>O>GN>HGHNKHGLHEB=:M>=:E:G<>.A>>ML
.>>+:KM$$$M>F)HM>[->O>GN>->=>M:BELHGNMH=>LDLI>K?HKF:G<>H;EB@:MBHGL
5:95885;:?
"6CJ6GN

"6CJ6GN

>?>KK>=K>O>GN>




0G;BEE>==>?>KK>=K>O>GN>




-+*




-+*=H?MA>?HEEHPBG@
5:95885;:?
"6CJ6GN

"6CJ6GN

NKK>GM-+*




)HG
GM-+*




-+*




2>>QI>:FHNGMH?-+*PBEE?KHFJN:KM>KMHJN:KM>K?HKL>O>K:EK>:LHGLBGLI>H?KLN;L>F>GMLMA>LI>KK>G>P:EL:G=?HK>B@G
GA:O>A:=BG:L>= L:E>L:K:G=MABLL>:LHG:EBMR
F:R:??>K>E:MBO>O:EN>H?HNK;BEEBG@L-+*:G=<:LA?HNKMA:G=?BKLM?BL<:EJN:KM>KLLKL
MK:GLBMBHG?KHFFNEMB
R>:KLN;L=NI?KHGMMH:GGN:E;BEEBG@BGLM:EEF>GMLLHF>KLF:R
:GGN:E:=$?MABLP>K>MHH<PHNE=>QI>ERK>=N<>MA>NG;BEE>=IHKMBHGH?HNKMHM:E
K>F:BGBG@I>K?HKF:G<>H;EB@:MBHGL:G=PHNE=>QI>LG>@:MBO>ER>?>KK>=K>O>GN>;BEEBG@L
GM-+*K>O>GN>)HG
"+HI>K:MBG@F:K@BG:G=?K>><:LA?EHPPHNE=K>F:BG;KH:=ERNG=BGMABLL<>G:KBH
-8-:/1(411@-:0-?48;C@19?
M%:GN:KRP>A:=;BEEBHGBG<:LA<:LA>JNBO:E>GML:G=F:KD>M:;E>L>L*NK<:LA?EHP?KHF
HI>K:MBHGL=>:L>=MH;BEEBHG?HKMA>?BL<:ER>:K>G=>=%:GN:KR?KHF;BEEBHG?HKMA>?BL<:ER>:K>G=>=
%:GN:KR2>K>INK=FBEEBHGLA:K>LH?HNKER
P>K>INK=FBEEBHGLA:K>LH?HNKK=BL@:K=BG@MA>
;:E:G<>LA>>M:G=<:LA?EHP:L:K>=BL=;>EHPNG=>KMA>A>:=BG@['BJNB=BMR:G=:IBM:E->LHNK<>L\


*+-$,+''(*,!'&+
$B1>B51C
2>;>EB>O>HNKBGO>LMF>GMBGLLFH=>E;:=;R:LMKHG@;:E:G<>LA>>M@BO>NL
:KH;NLM?HNG=:MBHGMHLN<<>LL?NEERG:OB@:M>Q@>HIHEBMB<:E:G=@EH;:EF:G@>L#HP>O>KF:M>KB:E
L<:KLNEMBG@BG?E:MBHG:KRIK>LLNK>LAB@A>KBGM>K>LMK:M>L:@EH;:EE:;HKLAHKM:@>MA>P:KBG
0DK:BG>:G=?HK>B@G>QK:M>?EN:ELH>QI>:KMBFBG@H?HNK;BEEBG@L:G=<:LA>QM>GMH?MA>BFI:L>KBLDLHGHNK
;NLBG>LLBGMA>K>F:BG=>KH??BL<:E:G=;>RHG=PBEE=>I>G=HGL>O>K:E?:H?PABHNMH?HNKK=BLIHM>GMB:EBFI:L>KBLDLHGHNK;NLBG>LL<:G;>?HNG=BG+:KM$$M>F[-BLD!:BGMKH=N<>=:G>PMK:GL:E?HKHNKMHD>G
;:L>=!E>QH??>KBG@BG)HKMAF>KB<::G=<>KM:BGLBG
 ( :G=+:G=?HKFHLMH?HNKLN;LKBG@LBGNLMK:EB:=NKBG@?BL<:E$GMABLG>PMK:GL:E
LHENMBHGIKHOB=>KLIKHOB=>KLPBMA:JNHM>AHP>O>KMA>:MP>>GNMH=>LD:G=MA>
K>I>G=>GMNIHGLN<<>LL?NEBFIE>F>GM:MBHGBGNLMK:EB:P>BGM>G=MHMK:GLBMBHGHNKBG=BK>LLMHMA>G>P
MK:GL:EBGHNKF:CHKF:KD>ML@EH;:EERBG?BL<:E:G=?BL<:E
*NKL:E>LBG<>GMBO>LMH.HENMBHG+KHOB=>KLPBEE;>K>=:LHI>K:MBG@>QI>GL>NG=>KMA>G>PMK:GL:E:LP>
PBEEG=KL<>QI>LBG<>GMBO>LI:B=MHK>L>EE>KLK>=:L:K>=N:G=LN;L>JN>GMERK>=:L:K>=NO>GN>HO>KMA>KBH=PBEE=>:L>:L
P>MK:GLBMBHGMHMA>G>PMK:GL:E(HLMH?MA>L:E>LBG<>GMBO>LI:RF>GMLMH.HENMBHG+KHOB=>KLBGHNKG>PMK:GL:EPBEE;>K>=BGF>GM:E:G=K>K:;E>K:G=PBEE;><:IBM:EBS>=:G=
BG=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\HGMA>HGLHEB=:M>=:E:G<>.A>>ML/A>
=>?>KK>=G;>:FHKMBS>=HO>KMA>I>KBH=H?;>G>?BM:G=K>=MH[.:E>L:G=(:KD>MBG@\HGMA>HGLHEB=:M>=
.M:M>F>GMH?*I>K:MBHGL/A>L:E>LBG<>GMBO>LGHMJN:EB?RBG@?HK<:IBM:EBS:MBHGPBEE;>K>=MH[.:E>L:G=(:KD>MBG@\HGMA>
HGLHEB=:M>=.M:M>F>GMH?*I>K:MBHGL:LMA>BG=NG=>KMA>BG<>GMBO>IKH@K:FK>JNBK>F>GML2>>QI>
BG:<LBG<>GMBO>LMHBG=BK>EL?KHFO>GN>MHHI>K:MBG@>QI>GL>LNG=>KMA>
G>PMK:GL:EMHIHLBMBO>ERBFI:=K>O>GN>@KHPMAPABE>;>BG@;KH:=ERG>NMK:EMH<:E=HI>K:MBG@
IKH?BM:G=?K>><:LA?EHP=HEE:KL:G=MHK>LNEMBG:<:E=G>@:MBO>BFI:K:MBG@F:K@BG
#1@'1B1:A1.E:/;91(@-@191:@%>1?1:@-@5;:
.N;LO>GN>KF
;:L>=IKH=NKOB<>H??>KBG@L:G=?E>QB;E> L
->O>GN>?KHFMA>L>:KK:G@>F>GMLBLIK>=HFBG:M>ERK>=K:M:;ERHO>KMA>KFG=:M>HNK
L>KOB<>BLF:=>:O:BE:;E>MHKL:G=PA>G:EEHMA>KK>O>GN>K>KB:A:O>;>>GL:MBL?B>=
(:BGM>G:G<>K>O>GN>G>P:E?>>L?HK>QBLMBG@F:BGM>G:G<>IE:G:@K>>F>GMLMA:MP>K>BGBMB:EERINK=
PBMA:I>KI>MN:ELH?MP:K>EB<>GL>0G=>KHNKF:BGM>G:G<>IE:GKL:K>>EB@B;E>MHK><>BO>NGLI>=NI@K:=>LPA>G
:G=B?:O:BE:;E>:G=M>K>F:BGM>G:G<>K>O>GN>K:M:;ERHO>KMA>M>KFH?MA>:@K>>F>GMLPABG>K:EERHG>R>:K
*MA>KK>O>GN>O>GN>?KHFKIKH=NKOB<>L:G=BLK>=:LMA>
IKH=N=>EBO>K>=:G=L>KOB<>L:K>I>K?HKF>=


>H86A
1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A
1:6G
C9:9
"6CJ6GN


%6C6<:B:CIDBB:CIH
5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>
.N;L:L>=N>MH@KHPMABGMA>
LN;LK;:L>:LE>=;RLN;LG>P:E
K>O>GN>PBMAGM
R>:K
LN;LG>P:ELK>?E>P
LN;LKBH=L
ELH@KHPMAP:L
:GBG:L>BGK>O>GN>?KHF 
H??>KBG@L:G=EHN=.>KOB<>
*??>KBG@L
(:BGM>G:G<>



	
	 

/HM:ELN;LG:G<>K>O>GN>




 

*MA>K




 

 


  
>H86A
1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A
1:6G
C9:9
"6CJ6GN


%6C6<:B:CIDBB:CIH
5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>
.N;L:L>=N>MH@KHPMABGMA>
LN;LK;:L>:LE>=;RLN;LG>P:E
K>O>GN>PBMAGM
R>:K
LN;LG>P:ELK>?E>P
LN;LKBH=L
ELH@KHPMAP:L
:GBG:L>BGK>O>GN>?KHFG>P
LN;LKBG@L
(:BGM>G:G<>



	
	 

/HM:ELN;LG:G<>K>O>GN>




 

*MA>K




 

 


  


#1@'1B1:A1.E%>;0A/@-958E
*NKIKH=NKBG@L:K>?H=BG?HNKIKBF:KRIKH=NLK G@BG>>KBG@:G=HGLMKN=B::G= GM>KM:BGF>GM[( \	
>H86A
1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A
1:6G
C9:9
"6CJ6GN


%6C6<:B:CIDBB:CIH
5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>;RIKH=N:L>=N>MH@KHPMABGK>O>GN>?KHF 
HEE>LDNBE=:G=
->OBM
NMH:G=NMH'/




 

$G:L>=N>MH@KHPMABGK>O>GN>?KHF;HMA
NMH:G=NMH'/
(!"




 

$G:L>=N>MH@KHPMABGK>O>GN>?KHF
+KH=NLB@G(!"HEE>GMHK
( 




 

$G:L>IKBF:KBER=N>MH@KHPMABGK>O>GN>
?KHF L
*MA>K




 

 


  
>H86A
1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9
IDEG>DG;>H86AN:6G
>H86A
1:6G
C9:9
"6CJ6GN


%6C6<:B:CIDBB:CIH
5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>;RIKH=N:L>=N>MH@KHPMABGK>O>GN>?KHF 
HEE>OBM:G=NMH=>LDNBE=
NMH:G=NMH'/




 

$G:L>=N>MH@KHPMABGK>O>GN>?KHF;HMA
NMH:G=NMH'/
(!"




 

$G:L>=N>MH@KHPMABGK>O>GN>?KHF+KH=NLB@G(!"HEE>:L>=N>MH@KHPMABGK>O>GN>?KHF(:R:
.(:Q:G=( HEE>K




 

 


 



#1@'1B1:A1.E1;3>-<45/>1-
>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
DCHI6CI
8JGG:C8N
8=6C<:
8DBE6G:9
IDEG>DG
;>H86AN:6G
>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9
IDEG>DG;>H86AN:6G
DCHI6CI
8JGG:C8N
8=6C<:
8DBE6G:9
IDEG>DG
;>H86AN:6G
>H86A1:6G
C9:9
"6CJ6GN


5:95885;:?1D/1<@<1>/1:@-31?






)>MK>O>GN>
F>KB<:L
0.






 





 

*MA>KF>KB<:L






 





 

/HM:EF>KB<:L





 




 

 ( 





 




 

+





 




 

/HM:EG>MK>O>GN>





 




 

88888888888888888888

HGLM:GMG=:MMABLE>O>E
2>;>EB>O>MA:MBGM>KG:MBHG:EK>O>GN>PBEEMH:F:CHKBMRH?HNKG>MK>O>GN>0G?:OHK:;E>>LB@GB?B<:GMFBEBM:KR:E:NG=;R-NLLB::G=:GRK>E:M>=
IHEBMB<:EHK>LIHGL>L:G=K
K>LIHGL>LHKHMA>KPBL>;RO:KBHNL@EH;:E:@>G>K:E>??>@EH;:E
>LMA:M:LB@GB?B<:GMIHKMBHGH?HNKG>MK>O>GN>BGF>K@BG@>LLNMHA:O>:G:=O>KL>>??>LLBGMAHL>L:G=HNKHO>K:EE
?BG:GK?HKF:G<>A:G@>LBGMA>O:EN>H?MA>0.=HEE:KK>E:MBO>MHHMA>KGLA:O>LB@GB?B<:GMER:??>=:G=MHLB@GB?B<:GMER:??>LNEML?HK:@BO>GI>KBH=>O>GMAHN@AP>A>=@>:IHKMBHGH?HNKGM:G=
IKHC>=K>O>GN>$G:L>LMHMA>E>O>ELH?IHEBMB<:E:G=>=B@EH;:EF:KD>MF:R
BFI:?BG:GLNEML


#1@'1B1:A1.E(-81?4-::18
>H86A1:6GC9:9
"6CJ6GN

=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6GC9:9
"6CJ6GN

5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>;RL:E>LE
$G=BK>MK>O>GN>




 

>H86A1:6GC9:9
"6CJ6GN

=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6GC9:9
"6CJ6GN

5:95885;:?1D/1<@<1>/1:@-31?


)>MK>O>GN>;RL:E>LE
$G=BK>MK>O>GN>




 

2>:GMBMA:MHNKK>O>GN>;R=BK>LEPBEEMHBG:L>:L:I>K<>GM:@>H?MHM:EG>MK>O>GN>2BMA
MA>=@KHPMAH?HNKHGEBG>NMH=>LD;K:G=>=LMHK>:G=MA>BGMKH=NPMK:GL:EP>PBEE;>
=>:LBG@HNKL:E>LMAKHN@AO:EN>
:==>=K>L>EE>KL:G==BLMKB;NMHKL:G=MK:GL:>G=KL2>>QI>EPBEEMHMK:GL:K:;E>IHKMBHGH?HNKKLI:KMBF>K@BG@
K>@BHGL.>>?NKMA>K=BL@:K=BG@HNKG>PMK:GL:EBGMA>*O>KOB>PMH->LNEMLH?*I>K:MBHGL:;HO>


#1@'1B1:A1.E%>;0A/@)E<1
>H86A1:6G
C9:9"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6G
C9:9"6CJ6GN


:95885;:?1D/1<@<1>/1:@-31?


%6C6<:B:CIDBB:CIH
)>M->O>GN>;R+KH=N
>LB@G




 
 $G:L>IKBF:KBER=N>MH@KHPMABG
 KBG@L:G=
NMH!:FBER
(:D>




 
 $G:L>IKBF:KBER=N>MH@KHPMABG
K>O>GN>?KHFNMH=>LDHGLMKNK




 

/HM:E)>M->O>GN>




 

>H86A1:6G
C9:9"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6G
C9:9"6CJ6GN


:95885;:?1D/1<@<1>/1:@-31?


%6C6<:B:CIDBB:CIH
)>M->O>GN>;R+KH=N
>LB@G




 
 $G:L>=N>MH@KHPMABG (!"
KBG@LNMH
'/:G=NMH!:FBER
(:D>




 
 $G:L>IKBF:KBER=N>MH@KHPMABG
K>O>GN>?KHFNMH=>LDHGLMKNK




 

/HM:E)>M->O>GN>




 

;?@;2'1B1:A1-:0$<1>-@5:3D<1:?1?
HLMH?LN;LG:G<>K>O>GN>BGLMA>E:;HKG:G<>KL.::.O>G=HK=$/LLLBHG:EL>KOB<>L?>>LK>E:M>=MH
HI>K:MBG@HNKG>MPHKD:G=KHR:EMB>L=>IK>QI>GL>:G=HI>K:MBG@E>:L>I:RF>GML:LLH=PBMA
K>JNBIF>GM=:M:<>GM>KE:M>=>QI>GL>LH?G>MPHKDHI>K:MBHGLLMH=GL:MBHG>QI>GL>:G=@:BGL
:G=EHLL>LHGHNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L
HLMH?HMA>KK>O>GN>BGLE:;HK=PBMAIKH=NMNIKOB<>L
IKHC>F>GML>KOB<>LKK>O>GN>:ELHBGLLMH=
GL:MBHG>QI>GL>HO>KA>:=L:EEH<:M>=$/:G=?:LLLBHG:EL>KOB<>L?>>L:G=@:BGL:G=EHLL>LHG
HNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L
HLMH?K>O>GN>:ME>:LMHO>KMA>G>:KM>KFBL:??>=;RE:;HKKBG@LMA>OHENF>
:G=FBQH?IKH=NL?ENO>EHI>=M>PKLNIIHKM
H??>KBG@LKHR:EMRK:M>L?HKEB<>GL>=M>F;>==>=BGHNKIKH=N=GL:MBHG>QI>GL>:G=@:BGL:G=
EHLL>LHGHNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L
(:KD>MBG@:G=L:E>L>QI>GL>LBGL:E:KB>L;HGNL>L;>G>?BML:G=LMH=GL:MBHG>QI>GL>?HKHNK
F:KD>MBG@:G=L:E>L>FIEHR>>LMA>>QI>GL>H?MK:O>E>GM>KM:BGF>GM:G=MK:BGBG@?HKLNKLHGG>EL:E>L:G==>:E>K
=:MBG:LBG@K>O>GN>LNKMBLBG@MK:=>LAHPL:G=>QIHLBMBHGL:G=
O:KBHNLL:E>L:G=IKHFHMBHG:EIKH@K:FL(:KD>MBG@:G=L:E>L>QI>GL>L:ELHBG.::.O>G=HK=$/GMIKH<>LLBG@?>>LMA>L:G=>JNBIF>GM@:BGL:G=EHLL>LHGHNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L
?:L=PBMAL:E>L:G=HK=>KF:G:@>F>GM


->L>:KO>EHIF>GM>QI>GL>LPAB>QI>GL>=:LBG=L;HGNL>L;>G>?BML:G=
LMH=GL:MBHG>QI>GL>?HKK>L>:KO>EHIF>GM>FIEHR>>LMA>>QI>GL>H?MK:O>E>GM>KM:BGF>GM:G=MK:BGBG@
?HKLNKLHGG>EIKH?>LLBHG:EL>KOB<>LLN>LI:B=MHLH?MP:K>=>O>EHIF>GM?BKFL:G=BG=>I>G=>GMG=HK=$/LHGHNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L:G=?:LG>K:E:G=:=FBGBLMK:MBO>>QI>GL>LBGL:E:KB>L;HGNL>L;>G>?BML:G=LMH=GL:MBHG>QI>GL>?HKHNK
 *?BG:G<>ANF:GK>LHNK<>L:G=E>@:E>FIEHR>>L:LP>EE:LIKH?>LLBHG:E?>>L?HKE>@:E:G=:<KOB<>L.::.
O>G=HKM$/KM:BG?HK>B@G;NLBG>LLM:Q>L@:BGL:G=EHLL>LHGHNKHI>K:MBG@>QI>GL><:LA?EHPA>=@>L
>QI>GL>H?MK:O>E>GM>KM:BGF>GM:G=MK:BGBG@?:LE:M>=L:G=>JNBIF>GM
>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6G
C9:9
"6CJ6GN


%6C6<:B:CIDBB:CIH
:95885;:?1D/1<@<1>/1:@-31?


HLMH?K>O>GN>
.N;LG:G<>




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>==GL:MBHG>QI>GL>=KBO>G;R
AB@A>KA>:=KBMBG:L>L:LP>EE:L:G
BG:L>BGLLBHG:E?>>L
*MA>K




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>==GL:MBHG>QI>GL>=KBO>G;R
AB@A>KA>:=KBMBG:L>L
FHKMBS:MBHGH?
=>O>EHI>=M>L



	
	 

/A>=>:L>BLIKBF:KBER=N>MHIK>OBHNLER:=
:LL>MLMA:MMH;>?NEER:FHKMBS>=H??L>M;R
:FHKMBS:MBHGH?:==>O>EHI>=M>L:L:
K>LNEMH?:O>GN>




 

*I>K:MBG@>QI>GL>L
(:KD>MBG@:G=L:E>L




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>=G
;RF>KBM:G=;>G>?BMBG:L>L:G=:GBG:L>BGM;RAB@A>K<:IBM:EBS>=
LH?MP:K>L>:KO>EHIF>GM




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>==GL:MBHG=KBO>G;RAB@A>K
A>:=KBMBG:L>L:LP>EE:L:GBG:L>BG
M;REHP>K
IKH?>LLBHG:E?>>L
">G>K:E:G=:=FBGBLMK:MBO> 



 

$G:L>IKBF:KBER=N>MH:GBG:L>BG>FIEHR>>
K>E:M>==GL:MBHG
>QI>GL>=KBO>G;RAB@A>KA>:=KBM
BG:L>L:LP>EE:L:GBG:L>BGK<:IBM:EBS>=LH?MP:K>=
BGM:G@B;E>L




 

/A>BG:L>BLIKBF:KBER=N>MH:FHKMBS:MBHGH?
:=BGM:G@B;E>L:L:K>LNEMH?:M;RIK>OBHNLER:=:LL>MLMA:M
MH;>?NEER:FHKMBS>=
/HM:EHI>K:MBG@>QI>GL>L




 



>H86A1:6G
C9:9
"6CJ6GN


=6C<:8DBE6G:9ID
EG>DG;>H86AN:6G
>H86A1:6G
C9:9
"6CJ6GN


%6C6<:B:CI8DBB:CIH
:95885;:?1D/1<@<1>/1:@-31?


HLMH?K>O>GN>
.N;LG:G<>




 

$G:L>IKBF:KBER=N>MHFIEHR>>
K>E:M>==
GL:MBHG>QI>GL>=KBO>G;RAB@A>KA>:=:L>BGMK:O>E:G=>GM>KM:BGF>GM>QI>GL>
*MA>K




 

$G:L>=N>MH>FIEHR>>
K>E:M>==GL:MBHG>QI>GL>=KBO>G;RAB@A>K
A>:=O>EHI>=M>L




 

$G:L>=N>MH@KHPMABG:FHKMBS:MBHG>QI>GL>?KHF
:==>O>EHI>=M>L:L:K>LNEMH?HNK
:?HNKMAJN:KM>KH??BL<:E:G=BG
?BL<:E
/HM:EO>GN>




 

*I>K:MBG@>QI>GL>L
(:KD>MBG@:G=L:E>L




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>==GL:MBHG>QI>GL>=KBO>G;R
AB@A>KA>:=:L>BGMK:O>E:G=
>GM>KM:BGF>GM>QI>GL>L:E>LQI>GL>:G=
:=O>KMBL>F>GM:G=IKHFHMBHGL>:KO>EHIF>GM




 

$G:L>IKBF:KBER=N>MH>FIEHR>>
K>E:M>==GL:MBHG>QI>GL>=KBO>G;R
AB@A>KA>:=:L>BGMK:O>E:G=
>GM>KM:BGF>GM>QI>GL>:LP>EE:L:GBG:L>BGLLBHG:E?>>L:G=EHP>K<:IBM:EBS>=
LH?MP:K>G>K:E:G=:=FBGBLMK:MBO>



	
	 

>:L>IKBF:KBER=N>MHE>:L>
K>E:M>=:LL>M
BFI:BKF>GM:G=HMA>KL:G=:E:M>=
M;R:GBG:L>BG>FIEHR>>K>E:M>=
=GL:MBHG>QI>GL>
=KBO>G;RAB@A>KA>:=K<:IBM:EBS>=LH?MP:K>=
BGM:G@B;E>L



Z
Z 

/HM:EHI>K:MBG@>QI>GL>L




 

/A>?HEEHPBG@M:;E>AB@AEB@AMLHNK>QI>:;LHENM>=HEE:K:G=I>K<>GMH?K>O>GN>?HK?BL<:E
:L=MH?BL<:E
7HDAJI:9DAA6G>BE68I
(:G8:CID;C:IG:K:CJ:
>BE68I
HLMH?K>O>GN>
$G:L>
!E:M
(:KD>MBG@:G=L:E>L
$G:L>
!E:M
->L>:KO>EHIF>GM
$G:L>
!E:M
">G>K:E:G=:=FBGBLMK:MBO>
>:L>
!E:M
FHKMBS:MBHGH?INK=BGM:G@B;E>L
>:L>
!E:M


:@1>1?@-:0$@41>D<1:?1#1@
/A>?HEEHPBG@M:;E>L>ML?HKMAMA>GMLH?BGM>K>LM:G=HMA>K>QI>GL>G>M
>H86AN:6G:C9:9"6CJ6GN




>CB>AA>DCH
$GM>K>LM:G=BGO>LMF>GMBG>QI>GL>	G>M



	 
	
":BGHG?HK>B@GG@B<BGO>LMF>GML

	 



*MA>KBG





$GM>K>LM:G=HMA>KBG>QI>GL>	G>M



	 
	
$GM>K>LM:G=HMA>KBG>QI>GL>	G>MIHLBMBO>ER=;RFBEEBHG=NKBG@?BL<:E:L=MH?BL<:E
/A>IHLBMBO>BGBGM>K>LM:G=HMA>KBG>QI>GL>	G>MP:LIKBF:KBER=N>MH:GBG:L>BGBGM>K>LMBG=N>MH
AB@A>KBGM>K>LMK:M>LBGMA>GMI>KBH=:L=MHMA>IKBHKI>KBH=:G=@:BGLBGMA>GMR>:K?HKBGO>LMF>GMLBG=>;M
:G=>JNBMRL>LMA:M:K>A>E=BG:K:;;BMKNLMNG=>KGHG
JN:EB?B>==>?>KK>=GL:MBHGIE:GL=MHEHLL>LBGMA>
IKBHKI>KBH=/A>BG:L>BGBGM>K>LM:G=HMA>KBG>QI>GL>	G>MP:LI:KMB:EERH??L>M;R:GBG:L>BGEHLL>LHGLMK:M>@B<
BGO>LMF>GM>JNBMRL>LBGMA>GMI>KBH==MHMA>IKBHKI>KBH=
$GM>K>LM:G=HMA>K>QI>GL>G>M=>:L>=;RFBEEBHG=NKBG@?BL<:E:L=MH?BL<:E/A>=>:L>P:L
IKBF:KBER=N>MH:GBG:L>BG@:BGLHG?HK>B@GGGMI>KBH==MHMA>IKBHK?BL<:ER>:K=N>MH?HK>B@G
GQK:M>?EN:L>BGBGM>K>LMBGI:KMB:EERH??L>M;R:GBG:L>BGBGM>K>LM>QI>GL>:L:
K>LNEMH?MA>BLLN:G<>H?=>;MBG?BL<:ER>:K:G=EHLL>LBGMA>GMI>KBH=:L=MH@:BGLBGMA>IKBHKR>:K?HK
BGO>LMF>GMLBG=>;M:G=>JNBMRL>LMA:M:K>A>E=BG:K:;;BMKNLMNG=>KGHG
JN:EB?B>==>?>KK>=GL:MBHGIE:GL
$GM>K>LM>QI>GL>:G=BGO>LMF>GMBG?ENL;:L>=HG:O>K:@><:LAF:KD>M:;E>L>L=>;M;:E:G<>L:O>K:@>
F:MNKBMB>L:G=BGM>K>LMK:M>L
":BGL:G=EHLL>LHG?HK>B@GGIKBF:KBER=N>MHMA>BFI:
F>:LNKBG@?HK>B@GGMFHG>M:KR:LL>MLBGMHMA>?NGGLIHG=BG@>GMBMR/A>:FHNGMH?MA>@:BGHKEHLLHG?HK>B@GGG;RMA>OHENF>H??HK>B@GG?HK>B@GGQK:M>L?HKMA>R>:K
%>;B5?5;:2;>:/;91)-D1?
2>:<M:Q>L:G=MA>K>E:M>=:<KMA>EB:;BEBMRF>MAH=>?>KK>=M:QEB:;BEBMB>L:G=:LL>ML:K>
=>M>KFBG>=;:L>=HGMA>=B??>K>G<>;>MP>>GMA>?BG:GF>GM:G=M:Q;:L>LH?:LL>ML:G=EB:;BEBMB>LNLBG@>G:=K:M>L
>QI>=MH;>BG>??>R>:KBGPAB;:LBL=B??>K>G<>LK>O>KL>!NKMA>KFHK>HG%:GN:KRMA>!.
K>E>:L>=@NB=:G<>HGMA>:<@EH;:EBGM:G@B;E>EHP
M:Q>=BG["$'/$\	IKHOBLBHGLH?MA>/:Q"$'/$IKHOBLBHGLBFIHL>:M:QHG?HK>B@GBGBG>Q<>LLH?:=>>F>=K>MNKGHGM:G@B;E>:LL>MLH??HK>B@GHFI:GRA:L>E>=MHK>:GRIHM>GMB:E"$'/$H;EB@:MBHGL:L:G>QI>GL>BGMA>I>KBH=BMBLBG=
$GM:Q>QI>GL>P:LFBEEBHG:G=FBEEBHG?HK?BL<:E:G=K>E:MBO>MHIK>
M:QBGH?
FBEEBHG:G=FBEEBHGK>LI>ER?HKMA>L:F>I>KBH=L/A>M:Q>QI>GL>?HK?BL<:E0.:G=
?HK>B@GM:Q>QI>GL>BG:L>BGM:Q>QI>GL>K>E:MBG@MHLMH=GL:MBHGK>=N<>=;R
GHG
K>@K:MBHGG>MM:Q;>G>?BM:G=:GBGM:Q;>G>?BM:KBLBG@?KHFM>FIHK:KRK>EB>?IKHOB=>=;RMA>$GM>KG:E
->O>GN>.>KOB<>K>E:MBG@MH0.?HK>B@GM:Q=BMK>@NE:MBHGL/:Q>QI>GL>?HK?BL<:E=IKBF:KBERH?MA>0.:G=
?HK>B@GM:Q>QI>GL>BG:L>BGM:Q>QI>GL>K>E:MBG@MHLMH=GL:MBHG?BG:E0.
?HK>B@GM:Q=BMK>@NE:MBHGL>G:=BG?BL<:EH??L>M;RMA>;>G>?BM?KHFMA>:G:=:O:EN:MBHG:EEHP:G<>K>E>:L>:G=:
0.?HK>B@G=>KBO>=BGM:G@B;E>BG;>G>?BM=KBO>G;R<:IBM:EBS:MBHGH?K>L>:KO>EHIF>GM>QI>G=BMNK>LLM:KMBG@BG
?BL<:E:LK>JNBK>=;RMA>/:QBLK>=MHK>=N<>=>?>KK>=M:Q:LL>MLPA>GF:G:@>F>GM<:GGHMMA:MBMBLFHK>EBD>ER
MA:GGHMMA:MMA>G>M=>?>KK>=M:Q:LL>MPBEE;>K>K>=/A>O:EN:MBHG:EEHP:G<>BL=>M>KFBG>=;R:LL>LLBG@;HMAIHLBMBO>:G=
G>@:MBO>>OB=>G<>MH=>M>KFBG>PA>MA>KBMBLFHK>EBD>ERMA:GGHMMA:M=>?>KK>=M:Q:LL>ML:K>K>K:;E>LNLLF>GMBL
K>JNBK>=HG:CNKBL=BGMBLK>JNBK>=BG=>M>KFBGBG@PA>MA>KMA>O:EN:MBHG:EEHP:G<>


LAHNE=;>K>=:@:BGLM=>?>KK>=M:Q:LL>ML$G:LL>LLBG@MA>G>>=?HK:O:EN:MBHG:EEHP:G<>P>K:EE:O:BE:;E>
>OB=>G<>BGK:MBG@K>LNEML:G=>LMBF:M>LH??NMNK>M:Q:;E>BG
2>K>E>:L>=HNK:G:=:O:EN:MBHG:EEHP:G<>BG?BL<:E=N>MHIHLBMBO>>OB=>G<>LNIIHKMBG@MA>NMBEBS:MBHGH?MA>-
=BML;>?HK>MA>R>QIBK>K>LNEMBG@BG:FBEEBHGGHG
<:LA;>G>?BMMH>:KGBG@L
N>MH:KF>K@>K>??>=BG?BL<:ER>:KK>LNEMBG@BGMA>>EBFBG:MBHGH?HNK=>?>KK>=M:Q:LL>MLP>GH
EHG@>KK>JNBK>:O:EN:MBHG:EEHP:G<>BG)>MA>KE:G=L
2>MHK>M:BG:O:EN:MBHG:EEHP:G<>:@:BGLM:EB?HKGB::G=(B?>KK>=M:Q:LL>ML:LP>EE:L=>?>KK>=M:Q
:LL>MLMA:MPBEEKMBGMH:<:IBM:EEHLLNIHGK>O>KL:E:LP>=HGHMA:O>LN??BGMBGH?MA>:IIKHIKB:M>KMH
;>G>?BMMA>L>=>?>KK>=M:Q:LL>MLELHMA>HFI:GRLMHK>M:BG:O:EN:MBHG:EEHP:G<>:@:BGLM?HK>B@G=>?>KK>=M:Q
:LL>MLBG+HKMN@:E:G=)>P5>:E:G=:G=<:IBM:EEHLL>LBGNLMK:EB:2>A:O>>LM:;EBLA>=:O:EN:MBHG:EEHP:G<>BG(:LL:MML
BG?BL<:E:LBMBLFHK>EBD>ERMA:GGHMMA:MP>PHNE=GHMK>:EBS>MA>=>?>KK>=M:Q:LL>MLBGMABLCNKBL=BMHHIMBFBS>HNKHO>K:EE;NLBG>LLFH=>EM:QIE:GGBG@LMK:M>@B>LF:R;>?>:LB;E>PA>K>;R
F:G:@>F>GMF:R=>M>KFBG>;:L>=HG:EE:O:BE:;E>>OB=>G<>;HMAIHLBMBO>:G=G>@:MBO>MA:MBMBLFHK>EBD>ERMA:GGHMMA:MMA>
+HKMN@:E)>P5>:E:G=:EB?HKGB:(:LL:MML(B?>KK>=M:Q:LL>MLPBEE
;>K>:EBS>=
LH?%:GN:KRP>A:=FBEEBHGH?@KHLLNGK>=M:Q;>G>?BMLH?PAB=N<>HNK
O:EN:MBHG:EEHP:G<>B?K>=/A>K>F:BGBG@FBEEBHGPHNE=BFI:>??>M:QK:M>/A>:FHNGMH?
NGK>=M:Q;>G>?BMLPBEE=>:L>BGMA>G>QMMP>EO>FHGMAL?HKLM:MNM>E:IL>BLGBE
*NK?NMNK>>??>:GGN:EM:QK:M>F:R;>F:M>KB:EERBFI:=;RMA>:FHNGMH?;>G>?BML:G=L?KHFM:Q:FHNGML
:LLH=PBMAHNK?HK>B@G>:KGBG@LMA:M:K>M:Q>=:MK:M>L=B??>K>GM?KHFMA>?>=>K:ELM:MNMHKRK:M>LBGO:EN:MBHG
:EEHP:G<>LE>O>EH?IKH?BM;>?HK>M:Q:<KM:BGM:QIHLBMBHGL;NLBG>LLH?LM:MNM>H?
EBFBM:MBHGLHKL>MME>F>GMH?M:Q:N=BML:G=LBGM:QE:PLLB@GB?B<:GM:FHNGMH?HNK>:KGBG@L:K>@>G>K:M>=;RHNK
 NKHI>:G:G=LB:+:L*NK?NMNK>>??>M:QK:M>LF:R;>:=O>KL>ER:??>=MHMA>>QM>GM>:KGBG@L:K>EHP>K
MA:G:GMB=BGLPA>K>P>A:O>EHP>KLM:MNMHKRM:QK:M>L
.B@G>=BGMHE:PHGN@NLMMA>$G?E:MBHG->=NOBLBHGLMHMA>$GM>KG:E->O>GN>H=>
>??>BGM:Q:;E>R>:KL;>@BGGBG@:?M>K><>F;>KBG:EM>KG:MBO>FBGBFNFM:Q2>
MHFHGBMHKMA>BFI:$G?E:MBHG->=N=?BG:GF>GML


', *!&&!$!&'*%,!'&
$G:==BMBHGMHHNKK>LNEML=>M>KFBG>=NG=>K0.@>G>K:EER:<<>IM>=:<L["+\	=BL=:;HO>P>
;>EB>O>MA>?HEEHPBG@GHG
"+F>:LNK>L:K>NL>?NEMHBGO>LMHKLBG>O:EN:MBG@HNKHI>K:MBG@I>K?HKF:G<>!HKMA>?BL<:ER>:KL
>G=>=%:GN:KR:G=HNK@KHLLIKH?BMBG?KHFHI>K:MBHGLHI>K:MBG@F:K@BGG>MBG:G==BENM>=
G>MBGI>KLA:K>HG:"+:G=GHG
"+;:LBLP>K>:L?HEEHPLBGFBEEBHGL>Q<>IM?HKHI>K:MBG@F:K@BG:G=I>KLA:K>
=:M:	
>H86A1:6GC9:9"6CJ6GN




-C6J9>I:9
"KHLLIKH?BM






)HG
"+@KHLLIKH?BM






$G?KHFHI>K:MBHGL






)HG
"+BG?KHFHI>K:MBHGL






*I>K:MBG@F:K@BG



)HG
"+HI>K:MBG@F:K@BG



)>MBG






)HG
"+G>MBG






BENM>=G>MBGI>KLA:K>






)HG
"+=BENM>=G>MBGI>KLA:K>






!HK HNK BGM>KG:E ;N=@>MBG@ :G= K>LHNK<> :EEH<:MBHG IKH<>LL :G=:L : F>:GL MH IKHOB=> GKBH=
MH
I>KBH=
NL>GHG
"+F>:LNK>LMHLNIIE>F>GMHNK=?BG:GF>GMLIK>L>GM>=HG:"+;:LBL
/A>L>GHG
"+F>:LNK>L=HGHMBG<>KM:BGBM>FLMA:MF:RA:O>:F:M>KB:EBFI:IHKM>=?BG:GLNEML
2> :ELH NL> GHG
"+ F>:LNK>L BG F:DBG@ HI>K:MBG@ =><:NL> P> ;>EB>O> MAHL> F>:LNK>L IKHOB=> F>:GBG@?NE
LNIIE>F>GM:E BG?HKF:MBHG K>@:K=BG@ HNK >:KGBG@ IHM>GMB:E :G= I>K?HKF:G<> ?HK F:G:@>F>GM ;R >QKM:BG ;>G>?BML
=BML>QI>GL>L:G=LMA:MF:RGHM;>BG=B<:MBO>H?HNK;NLBG>LLHI>K:MBG@K>LNEML!HKMA>K>:LHGLL>M?HKMA;>EHP
P>;>EB>O>MA>L>GHG
"+?BG:G:LNK>L:K>NL>?NEMHBGO>LMHKL;HMA;><:NL>	MA>R:EEHP?HK@K>:M>KMK:GLI:K>GLI>R F>MKB= ;R F:G:@>F>GM BG BML ?BG:GK:MBHG:E =>R :K> NL>= ;R HNK
BGLMBMNMBHG:EBGO>LMHKL:G=MA>:G:ERLMMA>A>:EMAH?HNK;NLBG>LL/ABL:EEHPLBGO>LMHKL:G=HMA>KLMH
;>MM>KNG=>KLM:G=:G=>O:EN:M>HNKHI>K:MBG@K>LNEML:G=?NMNK>IKHLI>L:F>F:GG>K:LF:G:@>F>GM?BG:GLNEML:KBH=L:G=MHMAHL>H?I>>KL:G=MH;>MM>KNG=>KLM:G=MA>EHG@
M>KFI>K?HKF:G<>H?HNK
;NLBG>LL2>:ELHNL>LHF>H?MA>L>F>:LNK>L?HKINKIHL>LH?=>M>KFBGBG@BG<>GMBO>GL:MBHG
/A>K>:K>EBFBM:MBHGLBGNLBG@GHG
"+?BG:G:LNK>L;><:NL>GHG
"+?BG:G:LNK>L:K>GHMIK>I:K>=BG
:<PBMA"+:G=F:R;>=B??>K>GM?KHFGHG
"+?BG:G:LNK>LNL>=;RHMA>KL/A>GHG
"+
?BG:G:LNK>LBG=:;HO>:K>EBFBM>=BGO:EN>;><:NL>MA>R>Q<>KM:BGBM>FLMA:MF:RA:O>:F:M>KB:EBFI:IHKM>=?BG:GLNEML$G:==BMBHGMA>R:K>LN;C>K>GMEBFBM:MBHGL:LMA>RK>?E>>Q>KH?CN=@F>GML;R
F:G:@>F>GM:;HNMPABL:K>>Q=?KHFMA>GHG
"+?BG:G:LNK>L2>GL:M>?HKMA>L>EBFBM:MBHGL
;R:G:ERSBG@GM:G=?NMNK>K>LNEMLHG:"+;:LBL:LP>EE:L:GHG
"+;:LBL:G=:ELH;RIKHOB=BG@"+F>:LNK>L
BGHNKIN;EB<=BLL/A>IK>L>GM:MBHGH?GHG
"+?BG:G:GMMH;>K>=BG:==BMBHGMHGHM:L:
LN;LMBMNM>?HKHKBGBLHE:MBHG?KHFMA>=BK>?BG:G:LNK>LIK>I:K>=BG:<PBMA"+2>NK@>
BGO>LMHKL MH K>OB>P MA> K>:LNK>L MH MA>  "+ ?BG:G:LNK>L
BG=;>EHP:G=GHMMHK>ERHG:GRLBG@E>?BG:G:LNK>MH>O:EN:M>HNK;NLBG>LL


*'&!$!,!'&'(!&&!$%+-*+,'&'&	(!&&!$%+-*+
$GFBEEBHGL>Q<>IM?HKHI>K:MBG@F:K@BG:G=I>KLA:K>=:M:	
"KHLLIKH?BM






.MH=GL:MBHG>QI>GL>






FHKMBS:MBHGH?=>O>EHI>=M>L






E:M>=?KHFHI>K:MBHGL






.MH=GL:MBHG>QI>GL>






FHKMBS:MBHGH?=>O>EHI>=M>L






FHKMBS:MBHGH?INK=BGM:G@B;E>L






E:M>=:L>
K>E:M>=:LL>MBFI:BKF>GML:G=HMA>KL






)HG
"+BG?KHFHI>K:MBHGL






*I>K:MBG@F:K@BG



.MH=GL:MBHG>QI>GL>



FHKMBS:MBHGH?=>O>EHI>=M>L



FHKMBS:MBHGH?INK=BGM:G@B;E>L



E:M>=:L>
K>E:M>=:LL>MBFI:BKF>GML:G=HMA>KL
Z


)HG
"+HI>K:MBG@F:K@BG	



)>MBG






.MH=GL:MBHG>QI>GL>






FHKMBS:MBHGH?=>O>EHI>=M>L






FHKMBS:MBHGH?INK=BGM:G@B;E>L






E:M>=:L>
K>E:M>=:LL>MBFI:BKF>GML:G=HMA>KL






'HLL@:BG	HGLMK:M>@B<BGO>LMF>GML:G==BLIHLBMBHGLG>M



	

	
 LM:;EBLAF>GMK>E>:L>	H?O:EN:MBHG:EEHP:G<>HG=>?>KK>=M:Q:LL>ML



	

Z
BLM>"+M:QBM>FL

	



	
$GM:Q>??>GML

	

	

	
)HG
"+G>MBG






BENM>=G>MBGI>KLA:K>






.MH=GL:MBHG>QI>GL>






FHKMBS:MBHGH?=>O>EHI>=M>L






>H86A1:6GC9:9"6CJ6GN




-C6J9>I:9


FHKMBS:MBHGH?INK=BGM:G@B;E>L






E:M>=:L>
K>E:M>=:LL>MBFI:BKF>GML:G=HMA>KL






'HLL@:BG	HGLMK:M>@B<BGO>LMF>GML:G==BLIHLBMBHGLG>M



Z

	
 LM:;EBLAF>GMK>E>:L>	H?O:EN:MBHG:EEHP:G<>HG=>?>KK>=M:Q:LL>ML



	

Z
BLM>"+M:QBM>FL

	



	
$GM:Q>??>GML

	

	

	
)HG
"+=BENM>=G>MBGI>KLA:K>






)>M<:LAIKHOB=>=;RHI>K:MBG@:L






:IBM:E>QI>G=BMNK>L

	

	

	
!K>><:LA?EHP






>H86A1:6GC9:9"6CJ6GN




-C6J9>I:9
888888888888888
	
/HM:ELF:RGHMLNF=N>MHKHNG=BG@
*NKGHG
"+?BG:G:LNK>LF:R>QMA>?HEEHPBG@
(@;/7.-?10/;9<1:?-@5;:1D<1:?1?2>>QLMH=GL:MBHG>QI>GL>L?KHFGHG
"+F>:LNK>L
IKBF:KBER;><:NL>MA>R:K>GHG
<:LA>QI>GL>L:G=F:G:@>F>GM?BG=LBMNL>?NEMH>Q<>KM:BGGHG
<:LALMH:LL>LLMA>
:IIKHIKB:M>E>O>EH?O:KBHNLHI>K:MBG@>QI>GL>LMH:LLBLMBG;N=@>MBG@IE:GGBG@:G=?HK><:LMBG@?NMNK>I>KBH=L(HK>HO>K
;><:NL>H?O:KRBG@:O:BE:;E>O:EN:MBHGF>MAH=HEH@B>LLN;C>:LLNFIMBHGL:G=MA>O:KB>MRH?:P:K=MRI>LMA:ML
<:GNL>NG=>K!../HIB<P>;>EB>O>>Q=GL:MBHG>QI>GL>L:EEHPLBGO>LMHKLMHF:D>
F>:GBG@?NEMP>>GHNKK>;NLBG>LLHI>K:MBG@K>LNEML:G=MAHL>H?HMA>KL
9;>@5F-@5;:;201B18;<10@1/4:;8;351?-:0/4-?105:@-:35.81?2>BGE:M>=
=>O>EHI>=M>L:G=INK=BGM:G@B;E>LBGKM:BG;NLBG>LL>L:G=M>L
FHKMBS:MBHGH?=>O>EHI>=M>L:G=INK=BGM:G@B;E>LBLBGGMBG:FHNGM:G=?K>JN>G=;R;HMAMA>MBFBG@:G=LBS>H?HNK:F>GM?BG=LBMNL>?NEMH>QMA>L>O:KB:;E>L?KHFHNK
O>GN>LMH:LLBLMBG;N=@>MBG@IE:GGBG@:G=?HK><:LMBG@?NMNK>I>KBH=L$GO>LMHKLLAHNE=GHM>MA:MMA>NL>H?BGM:G@B;E>
:LL>ML=MHHNKK>O>GN>L>:KG>==NKBG@MA>I>KBH=LIK>L>GM>=:G=PBEEMHHNK?NMNK>I>KBH=K>O>GN>L:LP>EE
FHKMBS:MBHGH?=>O>EHI>=M>L:G=INK=BGM:G@B;E>:LL>MLPBEEK>I>KBH=L
$@>-:?5@5;:/;?@?2>>Q:FHNGMLI:B=MHMA>HFI:GR^L?HKF>K *LNIHG=>I:KMNK>NG=>KMA>M>KFLH?MA>BK
MK:GLBMBHG:@K>>F>GMLBGO>K:G<>I:RF>GML:<<>E>K:MBHGH?K>LMKB=LMH=O>LMBG@H?
I>K?HKF:G<>LMH@:E?>>LBG=PBMAMA>MK:GLBMBHGELH>Q=?KHFHNKGHG
"+F>:LNK>L:K>K>E:M>=MHMA>L>:KP */A>L>IK>L>GMGHG
K>QI>GL>L:G=:K>GHMBG=B<:MBO>H?HNKHG@HBG@
HI>K:MBG@>QI>GL>L2>?NKMA>K;>EB>O>MA:M>Q *MK:GLBMBHGLNEMLBLNL>?NEMH
BGO>LMHKLBGMA:MBM:EEHPL?HKI>KBH=
HO>K
I>KBH=91:@/ABLBL:GHG
<:LAMHPKBM>=HPG@HH=PBEEMH?:BKO:EN>PA>GMA>K>BL:GBG=B<:MBHGMA:MMA>
:LL>MA:L;>>GBFI:BK>=L>QIE:BG>=:;HO>F:G:@>F>GM?BG=LBMNL>?NEMH>Q<>KM:BGGHG
<:LALMH:LL>LLMA>
:IIKHIKB:M>E>O>EH?O:KBHNLHI>K:MBG@>QI>GL>LMH:LLBLMBG;N=@>MBG@IE:GGBG@:G=?HK><:LMBG@?NMNK>I>KBH=L
'1?@>A/@A>5:3-:0;@41>1D5@/;?@?:1@/A>L>>QI>GL>L:K>:LLH=PBMAK>:EB@GBG@HNK;NLBG>LLLMK:M>@B>L;:L>=HG
GM>L>K>LMKNK>QBM:K>E:M>=MH
M>KFBG:MBHG;>G>?BML?HK?HKF>K>FIEHR>>LPAHL>IHLBMBHGLP>K>>EBFBG:M>=MA>H??:L:G=<:G<>EE:MBHGH?<>KM:BG
>QMA>L>L;><:NL>MA>L>>QI>GL>L:K>GHMK>?E>H?HG@HBG@;NLBG>LL:G=HI>K:MBG@K>LNEML2>
;>EB>O>BMBLNL>?NE?HKBGO>LMHKLMHNG=>KLM:G=MA>>??>L>BM>FLHGHNKMHM:EHI>K:MBG@>QI>GL>L
!1-?1>18-@10-??1@59<-5>91:@?-:0;@41>/4->31?/A>L>L:K>:LLH=PBMAMA>HIMBFBS:MBHGH?HNK?:L
E:M>=MHE>:L>L?HK?:LMA:MP>A:O>O:<:M>=:L:K>LNEMH?HNKHG>
MBF>FHO>MH:FHK>AR;KB=K>FHM>PHKD?HK<>$G


L>?::L>LP>K>E:M>=MHMA>BFI:BKF>GMHK:;:G=HGF>GMH?HI>K:MBG@E>:L>KB@AM
H?
NL>:LL>MLK>JNBIF>GM?NKGBMNK>:G=E>:L>AHE=BFIKHO>F>GML:G=HMA>K>QMA>L>L;><:NL>
MA>L>>QI>GL>L:K>GHMK>?E>H?HG@HBG@;NLBG>LL:G=HI>K:MBG@K>LNEML2>;>EB>O>BMBLNL>?NE?HKBGO>LMHKLMHNG=>KLM:G=
MA>>??>L>BM>FLHGHNKMHM:EHI>K:MBG@>QI>GL>L
/=A5?5@5;:>18-@10/;?@?2>>Q<>KM:BG:E:M>==BEB@>G<>LLBHG:E?>>LBG
KM:BG?BG:GKM:BGBGM>@K:MBHG
K>E:M>=>QI>GL>L/A>L>>QI>GL>L:K>
NGIK>=B:G==>I>G=HG?:HNMLB=>H?HNKE:M>=MHMA>K:MBHGLH?MA>
:=;NLBG>LLHKHNKHFI:GR$G:==BMBHGMA>LBS>:G=QBMRH?:G:G=KBO>LMA>F:@GBMN=>H?
:E:M>=BG=B<:MBO>H?LN;>EB>O>>QE:M>=L
MA>LNEMLMHMA>HFI:GRLABLMHKB<:EHI>K:MBG@K>LNEML:G=MHHMA>KLBGHNKBG=NLMKR
!;??3-5:;:?@>-@135/5:B1?@91:@?-:005?<;?5@5;:?2>>Q@:BGL:G=EHLL>LK>E:M>=MHHNKLMK:M>@B<BGO>LMF>GML
:G==BLIHLBMBHGLH?LMK:M>@B<BGO>LMF>GMLINK=BGM:G@B;E>L:G=;NLBG>LL>L?KHFHNKGHG
"+F>:LNK>LIKBF:KBER
;><:NL>F:G:@>F>GM?BG=LBMNL>?NEMH>QMA>L>O:KB:;E>@:BGL:G=EHLL>LHGMA>L>BGO>LMF>GML:G==BLIHLBMBHGLBG
:LL>LLBG@HNK?BG:GLNEML$G=BGMA>L>:FHNGML:K>GHG
<:LANGK>:EBS>=@:BGL:G=EHLL>L=BOB=>G=LK><>BO>=K>:EBS>=
@:BGL:G=EHLL>LHGMA>L:E>LHKEHLL>LHGMA>BFI:BKF>GMH?MA>L>BGO>LMF>GML:G=@:BG:G=EHLLHG=BLIHLBMBHGL2>;>EB>O>
>QL>BM>FLBLNL>?NEMHBGO>LMHKL;><:NL>MA>R=HGHME:M>MHMA>NG=>KERBG@I>K?HKF:G<>H?HNK;NLBG>LL:G=
MA>L>EHLL>LHK@:BGLP>K>BG=BG@B<BGO>LMF>GML:G==BLIHLBMBHGLPAB@NE:KER
5?/>1@1@-D<>;B5?5;:5@19?2>>QMA>"+M:QIKHOBLBHGBGM>BM>FL?KHFMA>GHG
"+F>:LNK>
H?G>MBGEHLL	:G=BG:GHG
"+M:QIKHOBLBHG;:L>=NIHGMA>IKHC>=:GGN:EGHG
"+>??>M:QK:M>
BLM>M:QBM>FLBGBGM:Q>QI>GL>LHK;>G>?BMLMA:M=HGHMK>E:M>MHHK=BG:KRBG?KHFK:MBHGLBG
MA>GM?BL<:ER>:KNGNLN:EHKBG?K>JN>GMERH<FLHKMA>M:QBFI:KM:BGLMH=GL:MBHG
 Q:FIE>LH?=BLM>M:QBM>FLBG;NM:K>GHMEBFBM>=MH<>KM:BGLBGCN=@F>GM:G=LBG>LMBF:M>LH?M:Q
F:MM>KLK>E:M>=MHIKBHK?BL<:ER>:KL<>KM:BGE:M>=MH;NLBG>LLKM:BGLBGMA>K>:EBS:;BEBMRH?
=>?>KK>=M:Q:LL>MLHKLBGM:QE:P(:G:@>F>GM;>EB>O>LMABL:IIKH:LMHKLBGNG=>KLM:G=BG@MA>M:Q
IKHOBLBHG:G=MA>>??>M:QK:M>K>E:M>=MHHG@HBG@HI>K:MBHGL2>;>EB>O>MA>>QL>=BLM>M:QBM>FLIKHOB=>L
BGO>LMHKLPBMANL>?NELNIIE>F>GM:EBG?HKF:MBHG:;HNMHNKHI>K:MBHG:EI>K?HKF:G<>
?@-.85?491:@>181-?1;2-B-8A-@5;:-88;C-:/1;:/1>@-5::1@0121>>10@-D-??1@?/ABLBL:GHG
<:LAMHK>E>:L>:O:EN:MBHG:EEHP:G<>HG<>KM:BG=>?>KK>=M:Q:LL>MLL>QIE:BG>=:;HO>F:G:@>F>GM?BG=LBMNL>?NEMH>Q
<>KM:BGGHG
<:LALMH:LL>LLMA>:IIKHIKB:M>E>O>EH?O:KBHNL<:LA>QI>GL>LMH:LLBLMBG;N=@>MBG@IE:GGBG@:G=
?HK><:LMBG@?NMNK>I>KBH=L
:/;91@-D1221/@?;:@4105221>1:/1.1@C11:%-:0:;:%/;?@?-:01D<1:?1?/A>BGM:Q>??>
>Q=?KHFMA>GHG
"+F>:LNK>LK>E:M>MHMA>M:QBFI:=B??>K>G<>;>MP>>G"+:G=GHG
"+>QI>GL>L
IKBF:KBER=N>MHLMH=GL:MBHG:FHKMBS:MBHGH?INK=BGM:G@B;E>L:G=K>LMKNL:G=HMA>K>QBM
G>?BML	?HK"+:G=GHG
"+F>:LNK>L
$!)-!!,1&(!,$*+'-*+
*NKIKBF:KRLHNK<>H?<:LABL?KHFMA>L:E>H?HNKLH?MP:K>:G=K>E:M>=L>KOB<>L*NKIKBF:KRNL>H?<:LABLI:RF>GMH?
HNKHI>K:MBG@FIEHR>>
K>E:M>=>QI>GL>LLNGL:MBHG:G=;>G>?BML:LP>EE:L
@>G>K:EHI>K:MBG@>QI>GL>L?HKF:KD>MBG@?:L:G=HO>KA>:=KF<:LAK>JNBK>F>GML?HKBM>FLHMA>KMA:G
GHKF:EHI>K:MBG@>QI>GL>L:K>:GMB=?HKMA>?HEEHPBG@MA>:LL>LLH?MP:K>IKH=NL
F>GM:KRMHHNK;NLBG>LLK>I:RF>GMH?=>;MINKL:G=<:IBM:E>QI>G=BMNK>LBG
INK:G=BFIE>F>GM:MBHGH?BGM>KG:E
NL>LH?MP:K>:IIEB<:MBHGL
M%:GN:KRHNKIKBGLH?EBJNB=BMRP>K><:LA<:LA>JNBO:E>GML:G=F:KD>M:;E>L>LMHM:EBG@
;BEEBHG:G=G>M:<<>BO:;E>H?FBEEBHG$G+:R:IIL:G=+$3:;KN:KR:G=(:KNL>=:IIKHQBF:M>ERFBEEBHG:G=FBEEBHGG>MH?<:LA:=BGK>:=BER
:O:BE:;E><:LAK>LI>ER$G:KH?:=:KMB?BEEB@>G<>IBI>EBG>?HK
:MBG@K
@>G>K:M>=KLBGMHEBO>
:G>LBG(:RP>NL>=:IIKHQBF:M>ERFBEEBHGG>MH?
<:LA:=BGK>:=BER:O:BE:;E><:LA.>>+:KM$$$M>F)HM>[.N;L>JN>GM O>GML\BGMA>)HM>LMHHGLHEB=:M>=
!BG:GF>GML?HK?NKMA>K=BLF;>KNMH=>LD>GM>K>=BGMH:G:F>G=>=:G=K>LM:M>==BM:@K>>F>GM[K>=BM@K>>F>GM\	;R:G=:FHG@
NMH=>LDMA>E>G=>KLI:KMRMA>K>MH:G=BMB;:GD):L:@>GMMA:MIKHOB=>L?HK:K>OHEOBG@=BM?::@@K>@:M>
IKBGBG:L>=NIMH;BEEBHG/A>K>OHEOBG@=BM?:?HK
PHKDBG@<:IBM:EHKHMA>K;NLBG>LLG>>=L/A>F:MNKBMR=:M>HGMA>K>=BM@K>>F>GMBL.>IM>F;>KM%:GN:KR
NMH=>LDA:=GHHNMLM:G=BG@;HKKHPBG@LNG=>KMA>K>=BM@K>>F>GM==BMBHG:EER:LH?%NG>P>A:O>GH
:FHNGMLHNMLM:G=BG@NG=>KMA>K>=BM@K>>F>GM.>>+:KM$$$M>F)HM>[HKKHPBG@KK:G@>F>GML\BGMA>)HM>LMH
HGLHEB=:M>=!BG:GF>GML?HK?NKMA>K=BLG:GMK>JNBK>F>GML$?P>:K>NG:;E>MHK>F:BGBG
PBMAMA>G:GMLNG=>KMA>K>=BM@K>>F>GMP>F:RGHM;>:;E>MH=K:PHGHNKK>OHEOBG@=BM?:A:=;BEEBHG:@@K>@:M>IKBGLHNMLM:G=BG@.>>+:KM$$$M>F)HM>
[HKKHPBG@KK:G@>F>GML\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK?NKMA>K=BLJNBO:E>GML:K>A>E=;R=BO>KLB?B>=?BG:GKE:MBHGLABIBLPBMABMB@KHNI:G=BML@EH;:E:??BEB:M>L$G:==BMBHGBMB;:GD):G:??BEB:M>H?BMB@KHNIBLHG>H?MA>E>:=
E>G=>KL:G=:@>GMBGMA>LRG=B<:M>H?HNK;BEEBHGK>OHEOBG@=BM?:JNBO:E>GML:G=F:KD>M:;E>L>L;:E:G<>L:K>GMK:M>=BG:?>PEH<:MBHGL:KHNG=MA>PHKE=PBMA
LN;LM:GMB:E:FHNGMLA>E=HNMLB=>H?MA>0GBM>=.M:M>LLH?%:GN:KR:IIKHQBF:M>ERH?HNKMHM:E<:LAHK<:LA
>JNBO:E>GML:G=F:KD>M:;E>L>L:K>EH<:M>=BG?HK>B@GCNKBL=BK<>GM:@>PBEE?ENLN;C>LL
G>>=L/A>K>:K>L>O>K:E?:?HK>B@G<:LA;:E:G<>LLNB@G>Q
K>LMKBB@GK>@NE:MHKRK>LMKBKL>M:QB@GCNKBL=B@>G>K:EER:O:BE:;E>?HK
=BLMKB;NMBHGMHMA>0GBM>=.M:M>LPBMAEBMME>MHGHBGF>GM:E0.M:Q>L2>K>@NE:KERK>OB>PHNK<:IBM:ELMKN:G=K
:O:KB>MRH?IHM>GMB:E?BG:GKG:MBO>L:G=IE:GGBG@LMK:M>@B>LMH>GLNK>P>A:O>MA>IKHI>KEBJNB=BMR:O:BE:;E>BGMA>
EH<:MBHGLBGPAB>=>=2>>QI>>MHNKEBJNB=BMRG>>=LMAKHN@AHKBGGM<:LA;:E:G<>L
HG@HBG@<:LA?EHPL:G=>QM>KG:E;HKKHPBG@L
:LA?KHFHI>K:MBHGL:??>=;RO:KBHNLKBLDL:G=NG<>KM:BGMB>LBG=MHMA>KBLDL
=>M:BE>=BG+:KM$$M>F[-BLD!:=HGHNKGM;NLBG>LLIE:G:G=K>O>GN>IKHLI>;>EB>O>MA:MHNK
>QBLMBG@<:LA:G=<:LA>JNBO:E>GMLHNK:GMB=<:LA?EHPL?KHFHI>K:MBHGL:G=HNK:O:BE:;E>K>OHEOBG@=BM?:LN??BGMMHF>>MHNKPHKDBG@<:IBM:E:G=HI>K:MBG@K>LHNK<>>QI>G=BMNK>K>JNBK>F>GML?HK:ME>:LMMA>G>QMFHGMAL?KHF
MA>=:M>H?MABLGGN:E->IHKM
*NKK>O>GN>>:KGBG@L<:LA?EHPLK><>BO:;E>L:G=I:R:;E>L:K>LN;C>MHLBG?HK>B@GGQK:M>L?HKPABA:O>INMBGIE:<>?HK>B@GGF>GMLMK:M>@R.>>+:KM$$
$M>F[,N:GMBM:MBO>:G=,N:EBM:MBO>BLL:;HNM(:KD>M-BLD\?HK?NKMA>K=BLH86AN:6G:C9:9"6CJ6GN

5:95885;:?



)>M<:LAIKHOB=>=;RHI>K:MBG@:L




 
)>M<:LANL>=BGBGO>LMBG@:L

	 
	  	
)>M<:LANL>=BG?BG:GL

	 
	 
	
)>M<:LAIKHOB=>=;RHI>K:MBG@:LH?FBEEBHG?HK?BL<:EIKBF:KBER=H?FBEEBHGH?HNKG>M
BG:=CNLM>=?HKFBEEBHGGHG
<:LABM>FLLN=GL:MBHG>QI>GL>=>IK>MBHG>QI>GL>:G==>?>KK>=BGM:Q/A>=>:L>BG<:LAIKHOB=>=;RPHKDBG@<:IBM:EP:LIKBF:KBER=N>MH:=>:L>
BG=>?>KK>=K>O>GN>H?FBEEBHG=KBO>G;RMA>MK:GLBMBHGH?FNEMB
R>:KLN;L=NI?KHGMMH:GGN:E;BEEBG@
BGLM:EEF>GML
)>M<:LAIKHOB=>=;RHI>K:MBG@:LH?FBEEBHG?HK?BL<:EIKBF:KBER=H?FBEEBHGH?HNKG>M
BG:=CNLM>=?HKFBEEBHGGHG
<:LABM>FLLN=GL:MBHG>QI>GL>=>IK>MBHG>QI>GL>E>:L>
K>E:M>=:LL>MBFI:BKF>GML:G==>?>KK>=BGM:Q/A>BG:L>BG<:LAIKHOB=>=;RPHKDBG@
<:IBM:EP:LIKBF:KBER=N>MH:G>MBG:L>BG=>?>KK>=K>O>GN>H?FBEEBHG=KBO>G;R:GBG:L>BGIKH=NKBG@LH??L>MBGI:KM;R:BG:<<>BO:;E>H?FBEEBHG=N>MHMA>L>:LHG:EBMRH?HNK;BEEBG@LBGMA>
?HNKMA?BL<:EJN:KM>K:G=MBFBG@H?<:LAKL
)>M<:LANL>=BGBGO>LMBG@:LP:LFBEEBHG?HK?BL<:E:G=P:LIKBF:KBER=N>MHINKLH?F:KD>M:;E>
L>LI:KMB:EERH??L>M;RL:E>L:G=F:MNKBMB>LH?F:KD>M:;E>L>L


)>M<:LANL>=BGBGO>LMBG@:LP:LFBEEBHG?HK?BL<:E:G=P:LIKBF:KBER=N>MHINKLH?F:KD>M:;E>
L>L:G=;NLBG>LLMH?<:LA:=I:KMB:EERH??L>M;RL:E>L:G=F:MNKBMB>LH?F:KD>M:;E>L>L
)>M<:LANL>=BG?BG:GLP:LFBEEBHGBG?BL<:E:G=P:LIKBF:KBER=N>MHK>INKLH?HNKM<:LANL>=BG?BG:GLP:LFBEEBHGBG?BL<:E:G=P:LIKBF:KBER=N>MHK>INKLH?HNK
I:RF>GMH?=>;M
'&,*,-$'$!,!'&+
/A>?HEEHPBG@M:;E>LNFF:KBS>LHNKLB@GB?B<:GM?BG:G>??>>QI>=MHA:O>HGHNKEBJNB=BMR:G=<:LA?EHPLBG?NMNK>I>KBH=L
5:95885;:?
,DI6A
>H86A
N:6G
>H86A
N:6GH
	
>H86A
N:6GH
	
,=:G:6;I:G
%6C6<:B:CIDBB:CIH
)HM>LI:R:;E>









 )HM>LI:R:;E>GHM>LBLLN>=BG
%NG>%NG>%:GN:KR:G=
*KBGK>LM.>>+:KM$$
$M>F)HM>[HKKHPBG@KK:G@>F>GML\BG
MA>)HM>LMHHGLHEB=:M>=!BG:GF>GML
?HK?NKMA>K=BLK:MBG@E>:L>L









 *I>K:MBG@E>:L>H;EB@:MBHGL:E>LM:M>O>ABL:G=<>KM:BG
>JNBIF>GM.>>+:KM$$$M>F)HM>
['>:L>L\BGMA>)HM>LMHHGLHEB=:M>=
!BG:GF>GML?HK?NKMA>K=BLH;EB@:MBHGL









 +NKH;EB@:MBHGL:K>H?@HH=LHKL>KOB<>L:G=:K>
=>?BG>=:L:@K>>F>GMLMA:M:K>>G?HK<>:;E>:G=
E>@:EER;BG=BG@MHNMH=>LD:G=MA:MLI>KFLBG=HKFBGBFNF
JN:GMBMB>LMH;>INK=?BQ>=FBGBFNFHK
O:KB:;E>IKB<>IKHOBLBHGL:G=MA>:IIKHQBF:M>
MBFBG@H?MA>MK:GL:H;EB@:MBHGL
K>E:M>IKBF:KBERMH:KOB<>L
F:KD>MBG@:G=GMLK>E:M>=MHHNK
BGO>LMF>GM:@K>>F>GMLPBMAEBFBM>=EB:;BEBMR
I:KMG>KLABI?NG=L
>?>KK>=GL:MBHG
H;EB@:MBHGL









 >?>KK>=GL:MBHGH;EB@:MBHGLK>E:M>MH
:FHNGMLA>E=BG:K:;;BMKNLMNG=>KHNKGHG
JN:EB?B>==>?>KK>=GL:MBHGIE:G.>>+:KM
$$$M>F)HM>[>?>KK>=HFI>GL:MBHG\BG
HNK)HM>LMHHGLHEB=:M>=!BG:GF>GML
?HK?NKMA>KBG?HKF:MBHGK>@:K=BG@MABLIE:G
+>GLBHGH;EB@:MBHGL









 +>GLBHGH;EB@:MBHGLK>E:M>MHHNKH;EB@:MBHGL?HK
I>GLBHGIE:GLHNMLB=>H?MA>0GBM>=.M:M>L.>>
+:KM$$$M>F)HM>[->MBK>F>GM>G>?BM
+E:GL\BGHNK)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK?NKMA>KBG?HKF:MBHGK>@:K=BG@
MA>L>H;EB@:MBHGL
LL>MK>MBK>F>GM
H;EB@:MBHGL









 LL>MK>MBK>F>GMH;EB@:MBHGLK>IK>L>GMMA>
>LMBF:M>=KM:BGH??B<>;NBE=BG@L
MA:MP>E>:L>;:BKHKB@BG:EKMA>M>KFBG:MBHGH?MA>E>:L>
/HM:E	










88888888888888888888
	
/ABLM:;E>@>G>K:EER>QL:FHNGML:EK>:=RK>=HGMA>;:E:G<>LA>>M:LGMEB:;BEBMB>L<>KM:BGINKH;EB@:MBHGL:L
=BL=;>EHPEHG@M>KF=>?>KK>=K>O>GN>:G=:FHNGMLK>E:M>=MHBGM:Q:<KM:BGM:QIHLBMBHGLLBG<>P><:GGHM
IK>=B:LHG:;E>K>EB:;BEBMRMA>MBFBG@H?<:LAL>MME>F>GMLMHMA>K>LI>M:QBG@:NMAHKBMB>LL>>+:KM$$$M>F)HM>
[$G/:Q>L\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML	
+NKHK=>KLHKINKH?LNIIEB>L:G=HMA>K@HH=L:G=L>KOB<>L:K>GHMBG=BGMA>M:;E>:;HO>
2>:K>GHM:;E>MH=>M>KFBG>MA>:@@K>@:M>:FHNGMH?LNHK=>KLMA:MK>IK>L>GM
HK=>KLF:RK>IK>L>GM:NMAHKBS:MBHGLMHINKK:MA>KMA:G;BG=BG@:@K>>F>GML*NKINKHK=>KL:K>;:L>=HGHNKGM


IKHF>GMHK=>O>EHIF>GMG>>=L:G=:K>?NE?BEE>=;RHNKO>G=HKLPBMABGLAHKMMBF>AHKBSHGL2>=HGHMA:O>LB@GB?B<:GM
:@K>>F>GML?HKMA>INKH?LNIIEB>LHKHMA>K@HH=LLI>LHKL>MIKB<>LMA:M>Q<>>=HNK>QI>=
K>JNBK>F>GML?HKMAK>>FHGMAL$G:==BMBHGP>A:O><>KM:BGLH?MP:K>KHR:EMRGML:LLH=PBMAMA>LABIF>GM:G=
EB<>GLBG@H?<>KM:BGIKH=N>QI>=MBFBG@H?I:RF>GMH?MA>H;EB@:MBHGL=BL=:;HO>BL>LMBF:M>=;:L>=HGGMBG?HKF:MBHG/BFBG@H?
I:RF>GML:G=:=B??>K>GM=>I>G=BG@HGMA>MBF>H?K><>BIMH?@HH=LHKL>KOB<>LHKLMH:@K>>=
NIHG:FHNGML?HKLHF>H;EB@:MBHGL
2>IKHOB=>BG=>FGB?B<:MBHGLH?O:KRBG@LL:G=<>KM:BG@N:K:GM>>LBG=IKH=NL#BLMHKB<:EER
E:M>=MHMA>L>P:KK:GMB>L:G=BG=>FGB?B<:MBHGLA:O>GHM;>>GLB@GB?B<:GM;NM;><:NL>IHM>GMB:E?NMNK>AB@AER
O:KB:;E>P>:K>NG:;E>MH>LMBF:M>MA>F:QBFNFIHM>GMB:EBFI:L>@N:K:GM>>LHGHNK?NMNK>K>LNEMLH?HI>K:MBHGL
!++-*(-* ++')-!,1+-*!,!+
NMH=>LD^LLMHINKIKH@K:FIKHOB=>LNMH=>LDPBMAMA>:;BEBMRMHH??L>MMA>=BENMBHG?KHFMA>BLLN:G<>H?LMHKHNK>FIEHR>>LMH=N<>LA:K>LHNMLM:G=BG@HO>KMBF>:G=A:LMA>>??>MNKGBG@>Q<>LL<:LA@>G>K:M>=
?KHFHNK;NLBG>LLMHLMHKL0G=>KMA>LA:K>K>INKIKH@K:FNMH=>LDF:RK>INKLA:K>L?KHFMBF>MHMBF>BG
HI>GF:KD>MMK:GL:ERG>@HMB:M>=MK:GL:E>K:M>=LA:K>K>INKIKH@K:FLM>G=>KH??>KLHK;RHMA>K
F>:GL/A>LA:K>K>INKIKH@K:F=H>LGHMA:O>:G>QIBK:MBHG=:M>:G=MA>I:<>:G=MBFBG@H?K>INKLPBEE=>I>G=HG
?:G>K:MBHG?KHFHI>K:MBHGL:O:BE:;E>LNKIENLMA>OHENF>H?>FIEHR>>LMHF:BGBG@LA:K>L
:O:BE:;E>BGMA>:NMAHKBS>=IHHE<:LAK>JNBK>F>GML?HK:M:G=E>@:E:G=
K>@NE:MHKRK>JNBK>F>GML
NKBG@MA>MAK>>:G=FHGMAL>G=>=%:GN:KRP>K>INK=MAHNL:G=:G=FBEEBHGLA:K>LH?HNK
LI>ERM%:GN:KR;BEEBHGK>F:BG>=:O:BE:;E>?HKK>INKNG=>KMA>)HO>F;>K
K>INKIKH@K:F:IIKHO>=;RMA>H:K=H?BK>IE:G=H>LGHMA:O>:?BQ>=>QIBK:MBHG=:M>.>>+:KM$$$M>F
)HM>[.MHINK+KH@K:F\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK?NKMA>K=BLO>GN>>:KGBG@L<:LA?EHPLK><>BO:;E>L:G=I:R:;E>L:K>LN;C>MHLBG?HK>B@G
GQK:M>L*NKKBLDF:G:@>F>GMLMK:M>@RNMBEBS>L?HK>B@GGHNK>QIHLNK>MH?HK>B@G
GQBLML:LI:KMH?HNKHG@HBG@;NLBG>LLHI>K:MBHGL2>NMBEBS><:LA?EHPA>=@>=N<>MA>
>QK:M>BFI:G>MK>O>GN>HKHI>K:MBG@>QI>GL>H?<>KM:BG:GMB=MK:GL:
NL>;:E:G<>LA>>MA>=@>=N<>MA>>QK:M>KBLD:LLH=IKBF:KBERPBMA?HK>B@GGGHFBG:M>=
K><>BO:;E>L:G=I:R:;E>LLH?%:GN:KR:G=P>A:=HI>G<:LA?EHP:G=;:E:G<>LA>>MA>=@>L>MME>F>GML@>G>K:EERPBMABGHG>MHFHGMALHGMK:K>IKBF:KBER=>GHFBG:M>=BG NKHLKBMBLAIHNG=L%:I:G>L>
R>G:G:=B:G=HEE:KLNLMK:EB:G=HEE:KL)HKP>@B:GDKHG>.BG@:IHK>=HEE:KL$G=B:GKNI>>L:G=.PBLL?K:G=HGHM
>GM>KBGMH?HK>B@G>Q=>KBO:MBO>BGLMKNF>GML?HKMK:=BG@HKLI>INKIHL>L
*NKHIMBHG:G=?HK>B@G>Q?HKP:K=K>LI>I>KBH=
>G=L:K>LNFF:KBS>=BG0.
=HEE:K>JNBO:E>GML:L?HEEHPLBGFBEEBHGL	
"6CJ6GN

"6CJ6GN

&DI>DC6ABDJCI
6>G.6AJ:
&DI>DC6ABDJCI
6>G.6AJ:
!HKP:K=HGMK:=

 
	 
 

.HE=

 
 
 
	
*IMBHGHGMK:=

 
 
 

.HE=

 
	 
 
	
2>NL>?HK>B@GG=N<>MA>>QK:M>BFI:G>MK>O>GN>:G=HI>K:MBG@>QI>GL>LH?
<>KM:BG:GMB=MK:GL:GLBMBOBMR:G:ERLBLI>K?HKF>=HGHNKA>=@BG@IHKM?HEBH:LH?%:GN:KRBG=B<:M>=MA:M
:ARIHMA>MB<:E:IIK>0.=HEE:K?KHFBMLO:EN>:M%:GN:KR:G=PHNE=BG:L>MA>?:BKO:EN>H?
HNK?HK>B@GGLI>ERARIHMA>MB<:E=>IK>=HEE:K
?KHFBMLO:EN>:M%:GN:KR:G=PHNE==>:L>MA>?:BKO:EN>H?HNK?HK>B@GGLI>ER
!&,*+,*,*!+#
$GM>K>LMK:M>FHO>F>GML:??>BGM>K>LMBGP>>:KGHGHNKLAHKM
M>KFBGO>LMF>GML:G=MA>F:KD>MO:EN>H?
<>KM:BGEHG@>KM>KFL>LM%:GN:KRP>A:=;BEEBHGH?<:LA>JNBO:E>GML:G=F:KD>M:;E>L>L
BG=:LLAHKM
M>KFF:KD>M:;E>L>L:G=FBEEBHG=:LEHG@
M>KFF:KD>M:;E>
L>L$?BGM>K>LMK:M>LP>K>MHFHO>NI;RHK;:LBLIHBGMLHO>K:
FHGMAI>KBH=MA>F:KD>MO:EN>H?MA>L>
L>LPHNE=GHMA:O>:F:M>KB:EBFI:LNEMLH?HI>K:MBHGL
', *%*#,*!+#
!KHFMBF>MHMBF>P>F:D>=BK>LMF>GMLBGIKBO:M>ERA>E=L+KBO:M>ERA>E=LMF>GML@>G>K:EER
:K>K>=BGA>K>GMERKBLDR/A>M>L:G=IKH=NL>LA:O>NG=>K=>O>EHIF>GM:K>MRIB<:EERBGMA>
>:KERLM:@>L:G=F:RG>O>KF:M>KB:EBS>PABLNEMBG:EHLLH?:EEHK:LN;LM:GMB:EI:KMH?HNKBGBMB:EBGO>LMF>GMBGMA>L>
L/A>>O:EN:MBHGH?IKBO:M>ERA>E=LBL;:L>=HGBG?HKF:MBHGMA:MP>K>JN>LM?KHFMA>L>LPABL:F>=BLK>@NE:MBHGL:L0.IN;EB=L:G=:LLN;:LBL?HKMA>L>>O:EN:MBHGLBL
LN;C>MBFBG@:G=:<=:M:K><>BO>=?KHFMA>L>L.>>+:KM$$$M>F)HM>[!BG:GGML\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GML?HK?NKMA>K=BL@:K=BG@MA>L>LMK:M>@B<BGO>LMF>GML
!HKBG?HKF:MBHG:;HNM>QIHLNK>MHK
I:KMR=BM
K>E:M>=EHLL>LL>>+:KM$$$M>F)HM>[NLBG>LL:G=.NFF:KR
H?.B@GB?B<:GM<L
HG<>GMK:MBHGH?K>=BM-BLD


!,%
!&&!$+,,%&,+&+-(($%&,*1,
-,'+#!&
'&+'$!,+,,%&,+''(*,!'&+
$GFBEEBHGL>Q<>IMI>KLA:K>=:M:	
>H86AN:6G:C9:9"6CJ6GN




)>MK>O>GN>
.N;LG:G<>





/HM:ELN;LG:G<>K>O>GN>






*MA>K






/HM:EG>MK>O>GN>






HLMH?K>O>GN>
HLMH?LN;LG:G<>K>O>GN>






HLMH?HMA>KK>O>GN>





FHKMBS:MBHGH?=>O>EHI>=M>L





/HM:EO>GN>






"KHLLIKH?BM






*I>K:MBG@>QI>GL>L
(:KD>MBG@:G=L:E>L






->L>:KO>EHIF>GM






">G>K:E:G=:=FBGBLMK:MBO>






FHKMBS:MBHGH?INK=BGM:G@B;E>L





/HM:EHI>K:MBG@>QI>GL>L






$G?KHFHI>K:MBHGL






$GM>K>LM:G=HMA>KBG>QI>GL>	G>M


	 
	
$G;>?HK>BGM:Q>L






+KHOBLBHG?HKBGM:Q>L

	 
	 
	
)>MBG






:LB<G>MBGI>KLA:K>






BENM>=G>MBGI>KLA:K>






2>B@AM>=:O>K:@>LA:K>LNL>=BGMBGI>KLA:K>






2>B@AM>=:O>K:@>LA:K>LNL>=BG=G>MBGI>KLA:K>






.>>:<LMHHGLHEB=:M>=!BG:GF>GML


-,'+#!&
'&+'$!,+,,%&,+''%(* &+!.!&'%
$GFBEEBHGL	
>H86AN:6G:C9:9"6CJ6GN




)>MBG






*MA>KA>GLBO>EHLL	BGG>MH?K>MEHLL	@:BGHG=>KBO:MBO>BGLMKNF>GMLG>MH?M:Q>??>BGG>MNGK>:EBS>=@:BGHG:O:BE:;E>
?HK
L:E>L>LG>MH?M:Q>??>KH?HK:EEI>KBH=L
IK>L>GM>=	



Z


A:G@>BG=>?BG>=;>G>?BMI>GLBHGBM>FLG>MH?M:Q>??>MBG?HK>B@GGMH?M:Q>??>KH:G=S>KH	

	 
	 
	
/HM:EHMA>KA>GLBO>EHLL	BG

	 
	 

/HM:EA>GLBO>BG






.>>:<LMHHGLHEB=:M>=!BG:GF>GML


-,'+#!&
'&+'$!,$&+ ,+
$GFBEEBHGL>Q<>IMI>KLA:K>=:M:	
"6CJ6GN


"6CJ6GN


++,+
NKK>GM:LL>ML
:LA:G=<:LA>JNBO:E>GML




(:KD>M:;E>L>L




<<>BO:;E>G>M




+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML




/HM:EGM:LL>ML




'HG@
M>KFF:KD>M:;E>L>L




HFINM>K>JNBIF>GMLH?MP:K>?NKGBMNK>:G=E>:L>AHE=BFIKHO>F>GMLG>M




*I>K:MBG@E>:L>KB@AM
H?
NL>:LL>ML




$GM:G@B;E>:LL>MLG>M




"HH=PBEE




>?>KK>=BGM:Q>LG>M




'HG@
M>KFHMA>K:LL>ML




/HM:E:LL>ML




$!!$!,!+&+,'# '$*+S)-!,1
NKK>GMEB:;BEBMB>L
<




<=GL:MBHG




<=BGM:Q>L



>?>KK>=K>O>GN>




*I>K:MBG@E>:L>EB:;BEBMB>L



*MA>K:<=EB:;BEBMB>L




/HM:EGMEB:;BEBMB>L




'HG@
M>KF=>?>KK>=K>O>GN>




'HG@
M>KFHI>K:MBG@E>:L>EB:;BEBMB>L




'HG@
M>KFBGM:Q>LI:R:;E>




'HG@
M>KF=>?>KK>=BGM:Q>L



'HG@
M>KFGHM>LI:R:;E>G>M




'HG@
M>KFHMA>KEB:;BEBMB>L




HFFBMF>GML:G=GL
.MHKL^>JNBMR
+K>?>KK>=LMHLA:K>L:NMAHKBS>=GHG>BLLN>=HKHNMLM:G=BG@:M%:GN:KR
:G=
Z

Z
HFFHGLMHLA:K>L:NMAHKBS>=:G=
BLLN>=:G=HNMLM:G=BG@:M%:GN:KR:G=K>LI>ER




<=HMA>KA>GLBO>EHLL

	 
	
<==>?BKL^>JNBMR




/HM:EEB:;BEBMB>L:G=LMHKL>JNBMR




.>>:<LMHHGLHEB=:M>=!BG:GF>GML


-,'+#!&
'&+'$!,+,,%&,+'+ $'/+
$GFBEEBHGL	
>H86AN:6G:C9:9"6CJ6GN




*I>K:MBG@:L
)>MBG






=CNLMF>GMLMHK>G>MBGMHG>M<:LAIKHOB=>=;RHI>K:MBG@:L
>IK>MBHG






.MH=GL:MBHG>QI>GL>






>?>KK>=BGM:Q>L

	 
	 
	
'>:L>
K>E:M>=:LL>MBFI:BKF>GML






*MA>KHI>K:MBG@:L

	 
	 

A:G@>LBGHI>K:MBG@:LL>ML:G=EB:;BEBMB>LG>MH?;NLBG>LL<>BO:;E>



	 
	
+K>I:B=>QI>GL>L:G=HMA>K:LL>ML

	 
	 
	
<:G=HMA>KEB:;BEBMB>L

	 
	 

>?>KK>=K>O>GN>

	 



<=BGM:Q>L





	
)>M<:LAIKHOB=>=;RHI>K:MBG@:L






$GO>LMBG@:L
+NKLH?F:KD>M:;E>L>L

	 
	 
	
.:E>LH?F:KD>M:;E>L>L






(:MNKBMB>LH?F:KD>M:;E>L>L






+NKLH?BGM:G@B;E>:LL>ML

	 
	 
	
NLBG>LLMH?<:LA:=

	 
	 
	
:IBM:E>QI>G=BMNK>L

	 
	 
	
*MA>KBGO>LMBG@:L

	 
	 
	
)>M<:LANL>=BGBGO>LMBG@:L

	 
	 
	
!BG:GL
+KH<>>=L?KHFBLLN:G<>H?MH?BLLN:G<>LI:B=K>E:M>=MHG>MLA:K>L>MME>F>GMH?>JNBMR:P:K=L

	 
	 
	
->INK:G=K>MBK>F>GMH?>=L?KHF=>;MG>MH?=BLI:RF>GMLH?=>;M

Z

	 
Z
*MA>K?BG:GL

Z

Z

	
)>M<:LANL>=BG?BG:GL

	 
	 
	
 ??>QK:M>LHG<:LA:G=<:LA>JNBO:E>GML

	 
	 
	
)>M=>:L>	BG:L>BG<:LA:G=<:LA>JNBO:E>GML

	 


	
:LA:G=<:LA>JNBO:E>GML:M;>@BGGBG@H??BL<:ER>:K






:LA:G=<:LA>JNBO:E>GML:M>G=H??BL<:ER>:K






.NIIE>F>GM:E<:LA?EHP=BL
:LAI:B=?HKBGM>K>LM






:LAI:B=?HKBGM:Q>LG>MH?M:QK>?NG=L






)HG
<:LABGO>LMBG@:G=?BG:GL
!:BKO:EN>H?=MHL>MME>EB:;BEBMR
=K>LMKB=LMHH?=K>E:M>=MH;NLBG>LL>)HM>	

Z




.>>:<LMHHGLHEB=:M>=!BG:GF>GML


-,'+#!&
'&+'$!,+,,%&,+'+,'# '$*+S)-!,1
$GFBEEBHGL	
DBBDCHID8@6C9
699>I>DC6AE6>9	>C86E>I6A
88JBJA6I:9
DI=:G
8DBEG:=:CH>K:
ADHH
88JBJA6I:9
9:;>8>I
,DI6A
HID8@=DA9:GH
:FJ>IN
+=6G:H
BDJCI
:E:G<>L%:GN:KR





	 
	 

HFFHGLA:K>LBLLN>=NG=>KLMH=GL:MBHG>QI>GL>

Z



Z

Z


.>MME>F>GMH?EB:;BEBMR
=K>LMKB=L

Z



Z

Z


)>MBG

Z

Z

Z




*MA>KA>GLBO>BG

Z

Z



Z


.A:K>LBLLN>=:LK:MBHG?HK;NLBG>LLINK:G=K>MBK>F>GMH?L

	 
	 
Z

	 
	
:E:G<>L%:GN:KR





	 
	 

HFFHGLA:K>LBLLN>=NG=>KLMH=GL:MBHG>QI>GL>

Z



Z

Z


.>MME>F>GMH?EB:;BEBMR
=K>LMKB=L

Z



Z

Z


)>MBG

Z

Z

Z




*MA>KA>GLBO>EHLL

Z

Z

	 
Z

	
.A:K>LBLLN>=K>E:M>=MH;NLBG>LLINK:G=K>MBK>F>GMH?L

	 
	 
Z

	 
	
:E:G<>L%:GN:KR





	 
	 

HFFHGLA:K>LBLLN>=NG=>KLMH=GL:MBHG>QI>GL>

Z



Z

Z


.>MME>F>GMH?EB:;BEBMR
=K>LMKB=L

Z



Z

Z


)>MBG

Z

Z

Z




*MA>KA>GLBO>EHLL

Z

Z

	 
Z

	
->INK:G=K>MBK>F>GMH?L

	 
	 
Z

	 
	
:E:G<>L%:GN:KR





	 
	 

.>>:<LMHHGLHEB=:M>=!BG:GF>GML


-,'+#!&
&',+,''&+'$!,!&&!$+,,%&,+
"6CJ6GN

,67A:H>CB>AA>DCHD;9DAA6GH:M8:EIE:GH=6G:96I6JCA:HHDI=:GL>H:>C9>86I:9

JH>C:HH6C9+JBB6GND;+>;>86CI88DJCI>C<(DA>8>:H

A?5:1??
NMH=>LD$G<[NMH=>LD\HKMA>[HFI:GR\	BL:@EH;:EE>:=>KBG=>LB@G>G@BG>>KBG@:G=>GM>KM:BGF>GMM>>G@BG>>KBG@LB@GF:GN?:=B::G=>GM>KM:BGF>GM/A>
HFI:GR^LLHIABLMB<:M>=LH?MP:K>IKH=NK>=MAKHN@A:AR;KB=H?=>LDMHI:G=G:;E>BMLKL
MH=>LB@G?:;KB<:M>F:GN?::G=;NBE=:GRMABG@;ROBLN:EBSBG@LBFNE:MBG@:G=:G:ERSBG@K>:E
PHKE=I>K?HKF:G<>>:KERBG
MA>=>LB@GIKH<>LL/A>L><:I:;BEBMB>L:EEHPHNKKLMH?HLM>KBGGHO:MBHGHIMBFBS>MA>BK=>LB@GLLMK>:FEBG>MA>BK
F:GN?:LL>LL:O>MBF>:G=FHG>RBFIKHO>JN:EBMR=>EBO>KFHK>LNLM:BG:;E>HNML
IE:GL:G=PBMAHMA>KLNMH=>LDLH?MP:K>IKH=NLHE=@EH;:EERMAKHN@A:EL
%>5:/5<81?;2;:?;850-@5;:
/A>:<=?BG:GF>GMLBGMA>:<LD:G=BMLPAHEERHPG>=LN;LB=B:KB>L
EEBGM>K;>>G>EBFBG:M>=
*?1;2?@59-@1?
/A>IK>I:K:MBHGH??BG:GF>GMLBGG>K:EER:<<>IM>=:<L["+\	
K>JNBK>LF:G:@>F>GMMHF:D>>LMBF:M>L:G=:LLNFIMBHGLMA:M:??>:FHNGMLK>IHKM>=BGNMH=>LD^L=?BG:GF>GML:G=GHM>LMA>K>MH/A>L>>LMBF:M>L:K>;:L>=HGBG?HKF:MBHG:O:BE:;E>:LH?MA>=:M>H?MA>=?BG:GF>GML*G:K>@NE:K;:LBLF:G:@>F>GM>O:EN:M>LMA>L>>LMBF:M>L:G=:LLNFIMBHGLLNEMLF:R=B??>KF:M>KB:EER
?KHFMA>L>>LMBF:M>L
 Q:FIE>LH?LB@GB?B<:GM>LMBF:M>L:G=:LLNFIMBHGLF:=>;RF:G:@>F>GMBGOHEO>K>O>GN>K>GM>KIKBL>;NLBG>LL:KK:G@>F>GML[ L\	MA>=>M>KFBG:MBHGH?MA>?:BKO:EN>H?:=:LL>ML:G=
EB:;BEBMB>L@HH=PBEE?BG:GGMLBG@B<BGO>LMF>GMLEHG@
EBO>=:LL>ML:G=BGM:G@B;E>:LL>MLMA>
K>:EBS:;BEBMRH?=>?>KK>=M:Q:LL>ML:G=MA>?:BKO:EN>H?LMHHFI:GR:ELHF:D>L:LLNFIMBHGLCN=@F>GML:G=
>LMBF:M>LBG=>M>KFBGBG@MA>:<KM:BGM:QIHLBMBHGLO:KB:;E>GL:MBHGI:KMG>KBG<>GMBO>IKH@K:FLIKH=NMNKGLK>L>KO>L:EEHP:G<>L?HK=BMEHLL>L:LL>MK>MBK>F>GMH;EB@:MBHGLE>@:EGL:G=HI>K:MBG@E>:L>EB:;BEBMB>L


(1391:@?
NMH=>LDHI>K:M>LBGHG>HI>K:MBG@L>@F>GM:G=:<JNBK>=?BG:G@F>GMBG?HKF:MBHGBLBG=BGMA>
=?BG:GF>GML*I>K:MBG@L>@F>GML:K>=>?BG>=:LGMLH?:G>GM>KIKBL>?HKPABI:K:M>?BG:GO:EN:M>=K>@NE:KER;RMA>?HI>K:MBG@=>K[*(\	BG=>K>LHNK<>L:G=
:LL>LLI>K?HKF:G<>NMH=>LDK>IHKMLL>@F>GMBG?HKF:MBHG;:L>=HGMA>[F:G:@>F>GM\:IIKH:F:G:@>F>GM:IIKH:LB@G:M>LMA>BGM>KG:EK>IHKMBG@NL>=;RF:G:@>F>GM?HKF:DBG@=>LHNK<>L:G=:LL>LLBG@I>K?HKF:G<>:L
MA>LHNK<>H?MA>HFI:GR^LK>IHKM:;E>L>@F>GML/A>HFI:GRL*(:EEH<:M>LK>LHNK<>L:G=:LL>LL>LMA>HI>K:MBG@
I>K?HKF:G<>H?MA>HFI:GR:L:PAHE>
$G?HKF:MBHGK>@:K=BG@NMH=>LDLEHG@
EBO>=:LL>ML;R@>H@K:IAB<:K>:P>K>:L?HEEHPL
"6CJ6GN



'HG@
EBO>=:LL>ML	
F>KB<:L
0.




*MA>KF>KB<:L




/HM:EF>KB<:L




 NKHI>(B==E> :LM:G=?KB<:




LB:+:=:LL>ML




88888888888888888888
	
'HG@
EBO>=:LL>ML>Q=>?>KK>=M:Q:LL>MLF:KD>M:;E>L>L@HH=PBEE:G=BGM:G@B;E>:LL>ML
'1B1:A1'1/;3:5@5;:
NMH=>LD^LK>O>GN>BL=BOB=>=BGMHMAK>><:M>@HKB>LLN;LO>GN>F:BGM>G:G<>K>O>GN>:G=HMA>KK>O>GN>
.N;LO>GN>KF
;:L>=IKH=NKOB<>H??>KBG@L:G=?E>QB;E>>GM>KIKBL>;NLBG>LL
:@K>>F>GML[ L\	(:BGM>G:G<>K>O>GN>G>P:E?>>L?HK>QBLMBG@F:BGM>G:G<>IE:G:@K>>F>GMLMA:MP>K>
BGBMB:EERINK=PBMA:I>KI>MN:ELH?MP:K>EB<>GL>0G=>KHNKF:BGM>G:G<>IE:GKL:K>>EB@B;E>MHK><>BO>NGLI>=
NI@K:=>LPA>G:G=B?:O:BE:;E>:G=M>KK>O>GN>O>GN>?KHFKIKH=NKOB<>L->O>GN>BLK>=PA>GL>H??>KBG@LBLMK:GL?>KK>=MHHNKKLBG:G:FHNGMMA:MK>?E>K:MBHGP>>QI>>GMBME>=MHBG>Q?HKIKH=NKOB<>L
NMH=>LD^LKLF:RBGIKHFBL>LMHMK:GL?>KFNEMBIE>IKH=NKOB<>LMH:K
>M>KFBGBG@PA>MA>KMA>IKH=NKOB<>L:K>K>==BLMBGK?HKF:G<>H;EB@:MBHGLMA:MLAHNE=;>:<=?HK
L>I:K:M>ERHK:L:LBG@E>I>K?HKF:G<>H;EB@:MBHGF:RK>JNBK>LB@GB?B<:GMCN=@F>GM%N=@F>GMBLK>JNBK>=MH=>M>KFBG>MA>E>O>E
H?BGM>@K:MBHG:G=BGM>K=>I>G=>GMP>>GBG=BOB=N:EGMLH?=>LDMHILH?MP:K>:IIEB<:MBHGL:G=L
/ABL=>M>KFBG:MBHGBG?EN>G<>LPA>MA>KMA>=>LDMHILH?MP:K>BLK>==BLMBG=?HKL>I:K:M>ER:L:EB<>GL>
I>K?HKF:G<>H;EB@:MBHGK>=:MMA>MBF>H?=>EBO>KRHKGHM=BLMBG=?HKMH@>MA>KPBMAMA>L:L:LBG@E>LN;LK?HKF:G<>H;EB@:MBHGK>=HO>KMBF>
!HKIKH=NQB;E> LN;L=>LDMHILH?MP:K>:G=K>E:M>=L
:K>AB@AERBGM>KK>E:M>=MA>LBG@E>I>K?HKF:G<>H;EB@:MBHGBLK>=K:M:;ERHO>KMA>KF:LMA>LN;LEBO>K>=!HKLN;LLDMHILH?MP:K>EB<>GL>LMA>EB<>GL>I>K?HKF:G<>H;EB@:MBHGBLL:MBL?B>=PA>G
=>EBO>K>=MHHNKKL!HKLM:G=:EHG>F:BGM>G:G<>LN;LI>K?HKF:G<>H;EB@:MBHGBL
L:MBL?B>=K:M:;ERHO>KMA>KF:LMAHL>L>KOB<>L:K>=>EBO>K>=!HKKOB<>LMA>I>K?HKF:G<>H;EB@:MBHGBL
L:MBL?B>=HO>K:I>KBH=H?MBF>:LMAHL>L>KOB<>L:K>=>EBO>K>=
2A>G:G:KK:G@>F>GMBGLFNEMBIE>I>K?HKF:G<>H;EB@:MBHGLPABGMER=>EBO>K>=:G=A:O>MA>L:F>
I:MM>KGH?MK:GL?>KMHMA>KMA>L>KOB<>LMK:GL?>KMHMA>KHO>KMA>KBH=	P>:<
I>K?HKF:G<>H;EB@:MBHGL:L:LBG@E>I>K?HKF:G<>H;EB@:MBHG


!HKMA:GHG>I>K?HKF:G<>H;EB@:MBHGMA>MK:GL:BL:EEH<:M>=:FHG@MA>I>K?HKF:G<>
H;EB@:MBHGLBG:G:FHNGMMA:M=>IBK>E:MBO>LM:G=:EHG>L>EEBG@IKB<>[..+\	H?>:>LM:;EBLA..+?HKFHLM
H?HNKIKH=NKOB<>L;:L>=HGH;L>KO:;E>IKB<>LPA>GLHE=L>I:K:M>ERBGLBFBE:KLMHLBFBE:KKL$G
BGLM:G<>LPA>K>..+BLGHM=BK>KO:;E>LNGP>=HGHML>EEMA>IKH=NKOB<>L>I:K:M>ERP>=>M>KFBG>MA>
..+NLBG@BG?HKF:MBHGMA:MBGLF:KD>MKH;L>KO:;E>BGINML2>MRIB<:EERA:O>FHK>MA:GHG>..+?HK
BG=BOB=N:EIKH=NKOB<>L=N>MHMA>LMK:MB?B<:MBHGH?MAHL>IKH=NKOB<>L;RK:G=$GMA>L>
BGLM:G<>LP>NL>K>E>O:GMBG?HKF:MBHGLNIKH=NHKL:E>LEMH=>M>KFBG>MA>..+
*NKBG=BK>EFH=>EBGL;HMA:MPH
MB>K>==BLMKB;NMBHGLMKNPA>K>NMH=>LDL>EELMH=BLMKB;NMHKLMA:M
LN;L>JN>GMERL>EEMHK>L>EE>KL:G=:HG>
MB>K>=LMKNPA>K>NMH=>LDL>EEL=BK>L>EE>KL!HKMA>L>:KK:G@>F>GML
MK:GL?>KH?@BGL:MMA>MBF>:<<>LLMHHNKLN;L:O:BE:;E>>E>KIKHOB=>=:EE
HMA>KKB:?HKK>O>GN>K>F>M%N=@F>GMBLK>JNBK>=MH=>M>KFBG>PA>MA>KHNK=BLMKB;NMHKL:G=K>L>EE>KLA:O>MA>
:;BEBMRMHAHGHKMA>BKGMMHI:RK>@:K=E>LLH?PA>MA>KMA>RGM?KHFMA>BKKL$?P>P>K>MH
MABL:LL>LLF>GMBM:F:M>KB:EBG:L>HK=>:L>BGMA>:FHNGMH?K>O>GN>MA:MP>K>IHKMBG:I:KMBKBH=
;?@?@;$.@-5:-;:@>-/@C5@4-A?@;91>
.:E>L:KG>=;RHNKBGM>KG:EL:E>LI>KLHGG>E:G=HNKLHENMBHGIKHOB=>KL:K>K>=BGF>GM:E:G=
K>K:;E>K/A><:IBM:EBS>=:G=BG=BG[+K>I:B=
>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\HGHNKHGLHEB=:M>=:E:G<>.A>>ML/A>=>?>KK>=
MA>G:FHKMBS>=HO>KMA>I>KBH=H?;>G>?BMNMH=>LD=>M>KFBG>=MA:ML:E>L:KG>=;RBGM>KG:EL:E>LI>KLHGG>EMA:M
:K>K>E:M>=MHG>P:EL:K>GLNK:M>PBMAL:E>L:KG>=HGMA>BGBMB:E=>M>KFBG>=
MA>I>KBH=H?;>G>?BMMH;>MA>M>KFH?MA>K>LI>KKLMA:M:K>
K>E:M>=MHG>P:ELF:R>BMA>K;>GLNK:M>HKGHG
GLNK:M>PBMA:KG>=HGMA>BGBMB:EI>G=BG@HGMA>GHG
GLNK:M>PBMAG>P:E
:FHKMBS>=HG:LMK:B@AM
EBG>;:LBLHO>KMA>I>KBH=H?;>G>?BM!HKGHG
GLNK:M>=>M>KFBG>=
MA>>LMBF:M>=I>KBH=H?;>G>?BM;RM:DBG@BGMHK:MBHGKK>M>GMBHG=:M:KK?:?>KK>=I>KBH=B<:EERK>OB>P>=?HKBFI:BKF>GMFHKMBS:MBHG>QI>GL>BLBG=BGF:KD>MBG@:G=L:E>L
>QI>GL>LBGMA>HGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL
-5>+-8A1"1-?A>191:@
!:BKO:EN>BL=>?BG>=:LMA>IKB<>MA:MPHNE=;>K><>BO>=?KHFMA>L:E>H?:G:LL>MHKI:B=MHMK:GL?>K:EB:;BEBMRBGMA>
IKBGHNLF:KD>M?HKMA>:LL>MHKEB:;BEBMRBG:GHK=>KERMK:GL:MP>>GF:KD>MI:KMB
F>:LNK>F>GM=:M>$G=>M>KFBGBG@MA>?:BKO:EN>H?HNKBGO>LMF>GMLP>:K>LHF>MBF>LK>JNBK>=MHNL>O:KBHNL:EM>KG:MBO>
O:EN:MBHGM>L$GINMLMHO:EN:MBHGM>L:K>>BMA>KH;L>KO:;E>HKNGH;L>KO:;E>*;L>KO:;E>BGINMLK>?E>M
=:M:H;M:BG>=?KHFBG=>I>G=>GMLHNK<>LPABE>NGH;L>KO:;E>BGINMLK>?E>M:LLNFIMBHGL/A>L>MPHMRI>LH?BGINML
A:O>:M>=MA>?HEEHPBG@?:BKO:EN>AB>K:KO>E
,NHM>=IKB<>L?HKB=>GMB<:EBGLMKNF>GMLBG:F:KD>ML
'>O>E
,NHM>=IKB<>L?HKLBFBE:KBGLMKNF>GMLBG:F:KD>MLJNHM>=IKB<>L?HKB=>GMB<:EHKLBFBE:KBGLMKNF>GMLBGF:KD>ML
MA:M:K>GHM::G=FH=>E
=>KBO>=O:EN:MBHGLBGPAB=KBO>KL:K>H;L>KO:;E>BG
:F:KD>ML:G=
'>O>E
0GH;L>KO:;E>BGINML?HKPABK>BLEBMME>HKGHF:KD>M=:M:PABJNBK>NMH=>LDMH=>O>EHIBMLHPG
:LLNFIMBHGL
/ABLAB>K:KJNBK>LNLMHFBGBFBS>MA>NL>H?NGH;L>KO:;E>BGINML:G=MHNL>H;L>KO:;E>F:KD>M=:M:B?:O:BE:;E>
PA>G=>M>KFBGBG@?:BKO:EN>/ABLBL@>G>K:EERMKN>?HKHNK<:LA:G=<:LA>JNBO:E>GML:G=MA>F:CHKBMRH?HNKF:KD>M:;E>
L>LPABKMH;>'>O>E:G='>O>E:LL>ML
&>RBGINML?HKGKBO:MBO>L:K>LIHMK:M>L?HKP:K=K:M>LBGM>K>LMK:M>LOHE:MBEBMR:G==BM=>?:NEMK:M>L/A>LIHM
K:M>?HK>:GL:F>LIHMK:M>NL>=?HK:EE;:E:G<>LA>>MMK:GLE:MBHGL:MMA>F>:LNK>F>GM=:M>NMH=>LDK>OB>PL
?HK:GRIHM>GMB:ELHG:JN:KM>KER;:LBLBGK
>G=$MBLNMH=>LD^L:LL>LLF>GMMA:M
MA>E>O>EBG@;>LMK>?E>GMF:KD>M:GH;L>KOBG@MA>IKBL>:LL>MLNMH=>LD^L'>O>E


L>L:G==>KBO:MBO>L:K>O:EN>=IKBF:KBERNLBG@H;L>KO:;E>BGINMLHMA>KMA:GJNHM>=IKB<>LBG:F:KD>ML?HKB=>GMB<:E
:LL>ML:G=EB:;BEBMB>L/A>HFI:GRA:L>E>=MHNL>MA>BG:IIKH:=>KBO:MBO>LNLBG@MA>H;L>KO:;E>'>O>E
F:KD>M>QI>:LNK>F>GM=:M>:G=LM:G=:K=O:EN:MBHGM>LMHKM?NMNK>:FHNGMLMH:LBG@E>IK>L>GM
:FHNGM=BL=	(B=
F:KD>MIKB=:L:IK:QI>=B>GM:G=PA>GK>JNBK>=K:M>L:K>BGM>KIHE:M>=?KHF
=BGM>KO:ELIN;EBLA>=;RF:KD>MLHNK<>L.>>)HM>[!BG:GGML\?HKFHK>BG?HKF:MBHG
-?4-:0-?4=A5B-81:@?
NMH=>LDKL:EEAB@AEREBJNB=BGO>LMF>GMLPBMABGLB@GB?B<:GMBGM>K>LMK:M>KBLD:G=K>F:BGBG@F:MNKBMB>LH?MAK>>
FHGMALHKE>LL:MMA>=:M>H?INKMH;><:LA>JNBO:E>GML:LA>JNBO:E>GML:K>LM:M>=:M>LMBF:M>=?:BKO:EN>
"->71@-.81(1/A>5@51?-:0(@>-@135/:B1?@91:@?
NMH=>LDLBMLF:KD>M:;E>L>L:L>BMA>KLAHKM
M>KFHKEHG@
M>KF@>G>K:EER;:L>=HG>:GM^L
NG=>KERBG@">G>K:EERF:KD>M:;E>L>LPBMAK>F:BGBG@F:MNKBMB>LH?E>LLMA:GFHGMAL:K>
=:LLAHKM
M>KF:G=F:KD>M:;E>L>LPBMAK>F:BGBG@F:MNKBMB>L@K>:M>KMA:GFHGMAL:K>=:LEHG@
M>KF
NMH=>LDF:RL>EE<>KM:BGH?BMLF:KD>M:;E>L>LIKBHKMHMA>BKLM:M>=F:MNKBMB>L?HKLMK:M>@B<INKIHL>LHKBG:GMB=BM=>M>KBHK:MBHG
(:KD>M:;E>L>L:K>LM:M>=:M?:BKO:EN>(:KD>M:;E>L>LF:MNKBG@PBMABGHG>R>:KMA:M:K>GHMK>LMKB=:K>
=:LGM:LL>ML
NMH=>LD=>M>KFBG>LMA>:IIKHIKB:M>M:;E>L>L:MMA>MBF>H?INK:G=K>
>O:EN:M>L
LN:LA>>M=:M>NMH=>LD<:KKB>L:EE[:O:BE:;E>
?HK
L:E>L>L\:M?:BKO:EN>PBMA
NGK>:EBS>=@:BGL:G=EHLL>LG>MH?M:QK>IHKM>=BGLMHKL^>JNBMRNGMBE=BLIHLBMBHGHKF:MNKBMRNMH=>LD<:KKB>L:EE
[MK:=BG@L>L\:M?:BKO:EN>PBMANGK>:EBS>=@:BGL:G=EHLL>LK>=BG[$GM>K>LM:G=HMA>K>QI>GL>G>M\BGMA>
HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL/A>LLHE=BL;:L>=HGMA>LI>GMB?B<:MBHGF>MAH=
/A>@B<BGO>LMF>GMLERA>E==>;M:G=>JNBMRL>L
0G=>KMA>F>:LNK>F>GM:EM>KG:MBO>F>MAH=LMK:M>@B<BGO>LMF>GMLBG>JNBMRL>L:K>F>:LNK>=:MLL:GR
BFI:BKF>GMLIENLHKFBGNLLK>LNEMBG@?KHFH;L>KO:;E>IKB<>LBGHK=>KERMK:GL:B=>GMB<:EHKLBFBE:K
BGO>LMF>GMH?MA>L:F>BLLN>KBGMA>GMI>KBH=/A><:KKRBG@O:EN>BLGHM:=CNLM>=?HKMA>HFI:GR^LLMK:M>@B<BGO>LMF>GML
BG>JNBMRL>LB?MA>K>:K>GHH;L>KO:;E>IKB<>LBG:L:F>HKLBFBE:KL>L:F>BLLN>KHKB?MA>K>:K>GH
B=>GMB?B>=>O>GMLHKLBGLMA:MF:RBG=B<:M>BFI:BKF>GM:L=BL=;>EHP/H=>M>KFBG>B?:MK:GL:>F>=:LBFBE:KBGO>LMF>GMNMH=>LDKLMA>KB@AML:G=H;EB@:MBHGL;>MP>>GMA>BGO>LMF>GML:G=MA>>QM>GMMHPAB=B??>K>G<>LPHNE=:??>?:BKO:EN>LH?MAHL>BGO>LMF>GMLPBMA:==BMBHG:EK:MBHG?HKMA>LM:@>H?=>O>EHIF>GMH?
MA>BGO>LM>>?:BKO:EN>PHNE=MA>G;>:=CNLM>=IHLBMBO>ERHKG>@:MBO>ER;:L>=HG:O:BE:;E>BG?HKF:MBHGLN<>GMKHNG=LH??BG:G@B<BGO>LMF>GMLBG=>;M:G=>JNBMRL>L'>O>E	:K>O:EN>=NLBG@LB@GB?B<:GMNGH;L>KO:;E>
BGINMLHK=:M:BG:GBG:F:KD>M:G=MA>O:EN:MBHGK>JNBK>LMA>HFI:GR^LCN=@F>GM=N>MHMA>:;L>G<>H?F:KD>MIKB<>L:G=
BGA>K>GME:L>:LLNFIMBHGL:K>BGA>K>GMERLN;C>:G=BGOHEO>LB@GB?B<:GMF:G:@>F>GMCN=@F>GM
2A>G>O>KIHLLB;E>P>NL>H;L>KO:;E>F:KD>M=:M::G=K>ERHGNGH;L>KO:;E>BGINMLHGERPA>GH;L>KO:;E>F:KD>M=:M:BLGHM
:O:BE:;E>PA>G=>M>KFBGBG@?:BKO:EN>
$G=>M>KFBGBG@MA>>LMBF:M>=?:BKO:EN>H?BMLLMK:M>@B<BGO>LMF>GMLMA>HFI:GRNMBEBS>LMA>FHLMK><>GM=:M::O:BE:;E>MH
MA>HFI:GR$G:==BMBHGMA>=>M>KFBG:MBHGH?PA>MA>K:GHK=>KERMK:GL:HKLBFBE:KBGO>LMF>GMK>JNBK>L
LB@GB?B<:GMF:G:@>F>GMCN=@F>GMBGKB@AML:G=H;EB@:MBHGLH?MA>BGO>LMF>GMLMA>>QM>GMMHPAB=B??>K>G<>L
PHNE=:??>?:BKO:EN>LH?MAHL>BGO>LMF>GML:G=MA>BFI:K>G<>L;:L>=HGMA>LM:@>H?HI>K:MBHG:E
=>O>EHIF>GMH?MA>BGO>LM>>
EEH?NMH=>LD^LF:KD>M:;E>L>L:G=LMK:M>@B<BGO>LMF>GML:K>LN;C>KBH=B<BFI:BKF>GMK>OB>P.MK:M>@B<
BGO>LMF>GMLBG>JNBMRL>L:K>:LL>LL>=;:L>=HG:O:BE:;E>BG?HKF:MBHGLNGM<:LAIHLBMBHGL>:KGBG@L>:KGBG@L
:G=<:LA?EHP?HK><:LMLK><>GMHI>K:MBHG:EI>K?HKF:G<>:G=:GRHMA>KK>:=BER:O:BE:;E>F:KD>M=:M:!HK:GR:O:BE:;E>
?HK
L:E>
=>;ML>LB?NMH=>LD=H>LGHMBGM>G=MHL>EE:G=BMBLGHMFHK>EBD>ERMA:GGHMMA:MNMH=>LDPBEE;>K>JNBK>=MHL>EEMA>
:O:BE:;E>
?HK
L:E>=>;ML>KRH?BML:FHKMBS>=LDPBEE=>M>KFBG>PA>MA>K:=>BG?:BK


O:EN>;>EHPMA>:FHKMBS>=MH=BM
K>E:M>=?:=BMEHLLBLF>:LNK>=:LMA>:FHNGM;RPAB
=>;ML>=Q<>>=LMA>>LMBF:M>H?MA>IK>L>GMO:EN>H?<:LA?EHPL>QI>=MH;>=NIMHMA>
=B??>K>G<>;>MP>>GMA>:FHKMBS>=?:BKO:EN>$FI:BKF>GMPBEE;>:LL>LL>=:MMA>BG=BOB=N:EL>O>E
K>=BM
K>E:M>=BFI:BKF>GMBLK>=:L:G:EEHP:G<>HGMA>HGLHEB=:M>=:E:G<>.A>>MLPBMA:LIHG=BG@:=CNLMF>GM
MH[$GM>K>LM:G=HMA>K>QI>GL>G>M\HGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLGRBFI:BKF>GMMA:MBLGHM
=BM
K>E:M>=BLK>=BG[<=HMA>KA>GLBO>EHLL\HGMA>HGLHEB=:M>=:E:G<>.A>>ML
NMH=>LD=H>LGHMF>:LNK>:G:EEHP:G<>?HK=BMEHLL>LHG:<=BGM>K>LMK><>BO:;E>LHG:O:BE:;E>
?HK
L:E>=>;M
L>LL>I:K:M>ERNMH=>LDPKBM>LH??:<=BGM>K>LMK><>BO:;E>L;RK>O>KLBG@BGM>K>LMBGBGMA>I>KBH==>>F>=
NGBG[$GM>K>LM:G=HMA>K>QI>GL>G>M\HGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLGR:<=
BGM>K>LMK><>BO:;E>HG:O:BE:;E>
?HK
L:E>=>;ML>LBLK>=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\BGMA>
:<=:E:G<>.A>>ML:L:IIEB<:;E>
!HKNMH=>LD^LJN:KM>KERBFI:BKF>GM:LL>LLF>GMH?IKBO:M>ERA>E==>;M:G=>JNBMRL>LLMK:M>@B<BGO>LMF>GM
IHKM?HEBHMA>:G:ERLBL>GL:G:LL>LLF>GMH?MA>L>O>KBMR:G==NK:MBHGH?MA>BFI:BKF>GM:G=JN:EBM:MBO>:G=
JN:GMBM:MBO>:G:ERLBLH?HMA>KD>R?:BGO>LM>>^L?BG:GMKBBGO>LM>>^LIKH=NL
F>>MBG@HK>Q<>>=BG@IK>=>?BG>=FBE>LMHG>LF:KD>M:<<>IM:G<>H?MA>IKH=NKMBMBO>IKH=NF:KD>M@>G>K:EF:KD>MF>GM:G=@HO>KG:G<>LMKNH?MA>BGO>LM>>MA>BGO>LM>>^L
EBJNB=BMR=>;MK:MBHL:G=MA>K:M>:MPABBGO>LM>>BLNLBG@BML<:LA
!HK:==BMBHG:EBG?HKF:MBHGL>>[HG<>GMK:MBHGH?K>=BM-BLD\PBMABGMABL)HM>[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM
<L\:G=)HM>[!BG:GGML\
1>5B-@5B15:-:/5-8:?@>A91:@?
0G=>KBMLKBLDF:G:@>F>GMLMK:M>@RNMH=>LDNL>L=>KBO:MBO>BGLMKNF>GMLMHF:G:@>BMLLAHKM
M>KF>QIHLNK>LMH
?ENB@GGQK:M>LMA:M>QBLM:LI:KMH?HG@HBG@;NLBG>LLHI>K:MBHGLNMH=>LD^L@>G>K:EIK:BL
MHA>=@>:IHKMBHGH?MK:GL:QIHLNK>LIKBF:KBER=>GHFBG:M>=BG>NKHL%:I:G>L>R>GKBMBLAIHNG=L:G:=B:G=HEE:KL
NLMK:EB:G=HEE:KL.BG@:IHK>=HEE:KL.PBLL?K:G=BLADKHG:S>>L/A>L>BGLMKNF>GML
@>G>K:EERA:O>F:MNKBMB>L;>MP>>GHG>:G=FHGMALBGMA>?NMNK>NMH=>LDNL>L?HK>B@GGLB@G:M>=:L
A>=@BG@BGLMKNF>GML:G=?HK>B@GGLB@G:M>=:L<:LA?EHPA>=@>L;NMNMH=>LD=H>LGHM>GM>KBGMH=>KBO:MBO>
BGLMKNF>GMMK:GL:INKIHL>L
/A>;:GDKI:KMB>LMHMA>=>KBO:MBO>GMB:EER>QIHL>NMH=>LDMH=BM
K>E:M>=EHLL>LBGMA>>O>GMH?
MA>BKGHGI>K?HKF:G<>#HP>O>KMHFBMB@:M>MA:MKBLDNMH=>LDHGERKI:KMB>LPAHF>>MMA>HFI:GR^L
FBGBFNFK>JNBK>F>GMLNG=>KBMLKI:KMRKBLD:LL>LLF>GMIKH<>LLNMH=>LDFHGBMHKLKI:KMRKBLDHG:ME>:LM:
JN:KM>KER;:LBL:G=PBEE:=CNLMBML>QIHLNK>MHO:KBHNLKI:KMB>L:LG><>LL:KRNMH=>LD@>G>K:EER>GM>KLBGMHF:LM>KG>MMBG@
:KK:G@>F>GMLPAB=N<>=BMKBLD;RI>KFBMMBG@G>ML>MME>F>GMH?MK:GL:L:F>KI:KMRNMH=>LD=H>L
GHMA:O>:GRF:LM>KG>MMBG@:KK:G@>F>GMLBGIE:<>PBMAK:E?>:MNK>L
NMH=>LD:<L>=>KBO:MBO>BGLMKNF>GML:L>BMA>K:LL>MLHKEB:;BEBMB>LHGMA>;:E:G<>LA>>M:G=<:KKB>LMA>F:M
?:BKO:EN>":BGL:G=EHLL>LK>LNEMBG@?KHFLBG?:BKO:EN>:K>:<=?HK=>I>G=BG@HGMA>NL>H?MA>=>KBO:MBO>:G=
PA>MA>KBMBL=>LB@G:M>=:G=JN:EB?B>L?HKA>=@>:<KBO:MBO>LMA:M=HGHMJN:EB?R?HKA>=@>:<:=CNLM>=MH
?:BKO:EN>MAKHN@A>:KGBG@L
$G:==BMBHGMHMA>L>?HK>B@GGLDAHE=L=>KBO:MBO>BGLMKNF>GMLBLLN>=;RIKBO:M>ERA>E=L
PABGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GML/A>L>=>KBO:MBO>LKM:BGKLBHGHIMBHGLHGMA>KMB;E>=>;M
L>LA>E=;RNMH=>LDHKHIMBHGLMH:>JNBMRL>LBG:IKBO:M>ERA>E=L>=>KBO:MBO>L:K>K>=
:M?:BKO:EN>:LH?>:LA>>M=:M>:G=:K>K>=BG['HG@
M>KFHMA>K:LL>ML\A:G@>LBGMA>?:BKO:EN>LH?MA>L>
BGLMKNF>GML:K>K>=BG[$GM>K>LM:G=HMA>KBG>QI>GL>	G>M\
;>153:A>>1:/E)>-:?8-@5;:-:0)>-:?-/@5;:?
/A>:LL>ML:G=EB:;BEBMB>LH?NMH=>LD^L?HK>B@GLN;LB=B:KB>L:K>MK:GLE:M>=?KHFMA>BKK>LI>?NGGLBGMH
0.=HEE:KL:MMA>K:M>LBG>??>;:E:G<>LA>>M=:M>:G=K>O>GN>:G=>QI>GL>:FHNGML:K>MK:GLE:M>=:M>QK:M>L
MA:M:IIKHQBF:M>MAHL>K:M>LBG>??>I>KBH=BGPABNG=>KERBG@MK:GL:B@GGGML:K>K>=BGHMA>KA>GLBO>BGEHLL	


":BGL:G=EHLL>LK>:EBS>=?KHF?HK>B@GGMK:GL:GHFBG:M>=BGGLHMA>KMA:GMA>
?HK>B@GLN;LB=B:KR^L?NGGBG=BG[$GM>K>LM:G=HMA>KBG>QI>GL>	G>M\(HG>M:KR:LL>ML:G=
EB:;BEBMB>L:K>K>F>:LNK>=NLBG@?HK>B@GGQK:M>L:MMA>>G=H?MA>I>KBH=:G=GHG
FHG>M:KR:LL>ML:G=EB:;BEBMB>L
:K>K>F>:LNK>=;:L>=HGABLMHKB<:E>QK:M>L
;>153:A>>1:/E;:@>-/@?1?53:-@10-?-?48;C1031?
NMH=>LDNL>L?HK>B@GG=N<>MA>>QK:M>BFI:G>MK>O>GN>HKHI>K:MBG@
>QI>GL>H?<>KM:BG:GMB=MK:GL:L>G=>LB@G:M>=:G==HGM>=:L
<:LA?EHPA>=@>L/A>>??>G>LLH?MA><:LA?EHPA>=@>LL>=JN:GMBM:MBO>ERNLBG@K>@K>LLBHG:MBG<>IMBHG:G=
MA>K>:?M>K/HK><>BO><:LA?EHPA>=@>:<:MF>GM:EEA>=@BG@K>E:MBHGLABIL:K>?HKF:EER=HGM>=:MMA>BG<>IMBHG
H?MA>A>=@>K>E:MBHGLABI:G=MA>A>=@>L:K>>QI>=MH;>AB@AER>??>BGH??L>MMBG@LMH?NMNK><:LA?EHPLHGA>=@>=
MK:GL:@:BGL:G=EHLL>LHGMA>L>A>=@>L:K>BG=BG[<=HMA>KA>GLBO>EHLL\:G=:K>K>=
BGMH>:KGBG@L:MMA>MBF>MA>?HK><:LM>=K>O>GN>HK>QI>GL>BLK>=$GMA>>O>GMMA>NG=>KERBG@?HK><:LM>=MK:GL:LGHMH<LIKH;:;E>MA:MBMPBEEGHMH<LDK>L:G==BLLMA>@:BGHKEHLLHGMA>K>E:M>=
<:LA?EHPA>=@>?KHF[<=HMA>KA>GLBO>EHLL\MH[$GM>K>LM:G=HMA>KBG>QI>GL>	G>M\BGMA>HFI:GR^L
HGLHEB=:M>=!BG:GF>GML:MMA:MMBF>>KBO:MBO>E:M>=@:BGEHLL	:K>IK>L>GM>=PBMABG[)>M<:LA
IKHOB=>=;RHI>K:MBG@:L\BGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?:LA!EHP.>>)HM>[!BG:GGML\
?HK:==BMBHG:EBG?HKF:MBHG
1>5B-@5B1?#;@1?53:-@10-?1035:3:?@>A91:@?
NMH=>LDNL>L?HK>B@GGGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GMLMHK>=N<>MA>>QK:M>KBLD
:LLH=IKBF:KBERPBMA?HK>B@GGGHFBG:M>=K><>BO:;E>LI:R:;E>L:G=<:LA/A>L>?HKP:K=F:KD>=
MH
F:KD>M:MMA>>G=H?>:KPBMA@:BGL:G=EHLL>LK>=:L[$GM>K>LM:G=HMA>KBG>QI>GL>	G>M\/A>L>
=>KBO:MBO>BGLMKNF>GML=HGHMLN;C>HFI:GRMHF:M>KB:E;:E:G<>LA>>MKBLD=N>MH>QK:M>FHO>F>GML;><:NL>
@:BGL:G=EHLL>LHGMA>L>=>KBO:MBO>BGLMKNF>GML:K>BGM>G=>=MHH??L>MMA>@:BGLHKEHLL>LK>LNEMBG@?KHFMA>K>O:EN:MBHG:G=
L>MME>F>GMH?MA>NG=>KERBG@?HK>B@GGGHFBG:M>=K><>BO:;E>LI:R:;E>L:G=<:LA
//;A:@?'1/15B-.81#1@
<<>BO:;E>G>M=H?MA>?HEEHPBG@:LH?%:GN:KR


/K:=>:<<>BO:;E>




'>LLEEHP:G<>?HK=BMEHLL>L
	 
	
+KH=NMNKGLK>L>KO>
	 
	
+:KMG>KIKH@K:FL:G=HMA>KH;EB@:MBHGL

	 
	
<<>BO:;E>G>M




EEHP:G<>L?HKNGMK:=>K><>BO:;E>L:G=ML:K>LN;C>GMNLBG@MA>>QI>==BMEHLL
FH=>EEEHP:G<>L?HK>QI>==BMEHLL>L:K>F>:LNK>=;:L>=NIHGMA>EB?>MBF>>QI>==BMEHLLPAB=HG
ABLMHKB<:E>QI>KB>G<>MA>GNF;>KH?=:RLMA:M;BEEBG@L:K>I:LM=N>K>:LHG:;E>><:LMBGOBL>=?HK><:LM
=:M:?HKMA>GM>GOBKHGF>GMKI:RF>GM;>A:OBHK=BMK>IHKML:G=HMA>KK
LI>L?HK=BMEHLL>LHGMK:=>K><>BO:;E>L:G=MLP>K>GHMF:M>KB:E:LH?%:GN:KR
LI:KMH?MA>BG=BK>EFH=>ENMH=>LDA:L:I:KMG>KBG<>GMBO>IKH@K:FMA:MNL>LJN:KM>KER:MM:BGF>GMH?
FHG>M:KRK>P:K=LMHFHMBO:M>=BLMKB;NMHKL:G=K>L>EE>KLMH:O>FNMN:EER:@K>>=NIHG;NLBG>LL@H:ELBG:LI>=MBF>
I>KBH=/A>F:CHKBMRH?MA>L>BG<>GMBO>L:K>K>=:L:K>=N?>KK>=K>O>GN>BGMA>I>KBH=MA>MK:GL:=
:G=LN;L>JN>GMERK>=:L:K>=NO>GN>HO>KMA>KBH=/A>K>F:BG=>KK>=N<>L
LN;LKK>O>GN>BGMA>GMI>KBH=
/A>L>BG<>GMBO>;:E:G<>L=HGHMK>JNBK>LB@GB?B<:GM:LLNFIMBHGLHKCN=@F>GML>I>G=BG@HGAHPMA>I:RF>GML:K>F:=>
MA>K>L>KO>L:LLH=PBMAMA>I:KMG>KBG<>GMBO>IKH@K:F:K>K>=HGMA>;:E:G<>LA>>M:L>BMA>K:K>=N<>BO:;E>HKK>=:L:<


;:/1:@>-@5;:;2>105@'5?7
NMH=>LDIE:<>LBML<:LA<:LA>JNBO:E>GML:G=F:KD>M:;E>L>LBGAB@AEREBJNB=BGLMKNF>GMLPBMA:G=BGMA>=BO>KLB?B>=?BG:G=BMK:MBG@L:G=EBFBMLMA>:FHNGMLBGO>LM>=PBMA:GRHG>
BGLMBMNMBHGMRI>H?L>KNMH=>LD^LIKBF:KRKE:MBHGLABIBLPBMABMB@KHNI$G<:G=BML
@EH;:E:??BEB:M>LBMB;:GD):G:??BEB:M>H?BMB@KHNIBLHG>H?MA>E>:=E>G=>KL:G=:G:@>GMBGMA>LRG=B<:M>H?NMH=>LD^L
;BEEBHGK>OHEOBG@=BM?:;:GDKI:KMB>LMHMA>=>KBO:MBO>GMB:EER>QIHL>NMH=>LDMH=BM
K>E:M>=EHLL>LBGMA>>O>GMH?MA>BK
GHGI>K?HKF:G<>#HP>O>KMHFBMB@:M>MA:MKBLDNMH=>LDHGERKI:KMB>LPAHF>>MMA>HFI:GRL
FBGBFNFK>JNBK>F>GMLNG=>KBMLKI:KMRKBLD:LL>LLF>GMIKH<>LLNMH=>LDFHGBMHKLKI:KMRKBLDHG:ME>:LM:
JN:KM>KER;:LBL:G=PBEE:=CNLMBML>QIHLNK>MHO:KBHNLKI:KMB>L:LG><>LL:KRNMH=>LD@>G>K:EER>GM>KLBGMHF:LM>KG>MMBG@
:KK:G@>F>GMLPAB=N<>=BMKBLD;RI>KFBMMBG@G>ML>MME>F>GMH?MK:GL:L:F>KI:KMR#HP>O>K
NMH=>LD=H>LGHMA:O>:GRF:LM>KG>MMBG@:KK:G@>F>GMLBGIE:<>PBMAK:E?>:MNK>L
NMH=>LD^L:<<>BO:;E>:K>=>KBO>=?KHFL:E>LMH:E:K@>GNF;>KH?K>L>EE>KL=BLMKB;NMHKL:G==BK>KLBG
MA>F>KB<:L NKHI>(B==E> :LM:G=?KB<:[ ( \	:G=LB:+:H@K:IAB>LNMH=>LDI>K?HKFL
HG@HBG@>O:EN:MBHGLH?MA>L>I:KMG>KL^:G=KL^?BG:G:FHNGMH?=BM>QM>G=>=PA>G
=>>F>=G><>LL:KR;NM@>G>K:EER=H>LGHMK>JNBK>K:E?KHFLNL/HM:EK>O>GN>?KHFMA>HFI:GR^LE:K@>LM
=BLMKB;NMHK/.RGG>QHKIHK:MBHG:G=BML@EH;:E:??BEB:M>L[/.RGG>Q\	:<=?HK:G=H?NMH=>LDL
G>MK>O>GN>?HK?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ER/A>F:CHKBMRH?MA>G>MK>O>GN>?KHFL:E>LMH
/.RGG>QBL?KHFL:E>LF:=>HNMLB=>H?MA>0GBM>=.M:M>L$G:==BMBHG/.RGG>Q:<=?HK:G=H?MK:=>
:<<>BO:;E>:LH?%:GN:KR:G=K>LI>ER)HHMA>KK:<=?HKFHK>MA:GH?
NMH=>LD^LMHM:EG>MK>O>GN>HKMK:=>:<<>BO:;E>?HK>:K>LI>I>KBH=L
:@-:35.81??1@?#1@
$GM:G@B;E>:LL>MLBGKK>E:MBHGLABIL=>O>EHI>=M>LMK:=>G:F>L:G=I:M>GML:G=HMA>K:G=MA>
K>E:M>=:<=:FHKMBS:MBHG/A>L>:LL>ML:K>IK>L>GM>=:L[$GM:G@B;E>:LL>MLG>M\BGMA>HGLHEB=:M>=:E:G<>.A>>ML/A>
F:CHKBMRH?NMH=>LD^LBGM:G@B;E>:LL>ML:K>:FHKMBS>=MH>QI>GL>HO>KMA>>LMBF:M>=>PABL?KHFMH
R>:KLFHKMBS:MBHG>QI>GL>?HKBGM:G@B;E>:LL>MLP:LFBEEBHGBG?BL<:EFBEEBHGBG?BL<:E:G=FBEEBHGBG
?BL<:E
$GM:G@B;E>:LL>ML:G=K>E:M>=:<=:FHKMBS:MBHG:M%:GN:KRP>K>:L?HEEHPL
GDHH6GGN>C<
BDJCI

88JBJA6I:9
BDGI>O6I>DC
&:I
NLMHF>KK>E:MBHGLABIL

 
	 

>O>EHI>=M>L

 
	 

/K:=>G:F>L:G=I:M>GML

 
	 

*MA>K
 
	 

/HM:EBGM:G@B;E>:LL>ML

 
	 

888888888888888
	
$GLMA>>??>B@GG:LL>ML:G=K>E:M>=:<=:FHKMBS:MBHG:M%:GN:KRP>K>:L?HEEHPL
GDHH6GGN>C<
BDJCI

88JBJA6I:9
BDGI>O6I>DC
&:I
NLMHF>KK>E:MBHGLABIL

 
	 

>O>EHI>=M>L

 
	 

/K:=>G:F>L:G=I:M>GML

 
	 

/HM:EBGM:G@B;E>:LL>ML

 
	 

888888888888888
	
$GLMA>>??>B@GGP>B@AM>=:O>K:@>:FHKMBS:MBHGI>KBH=?HKBGM:G@B;E>:LL>ML=NKBG@?BL<:EP:LR>:KL QI>=?NMNK>
:FHKMBS:MBHG>QI>GL>?HKBGM:G@B;E>:LL>ML?HK>:?BL<:ER>:KL>G=>=MA>K>:?M>KBL:L?HEEHPL
>H86A1:6G:C9:9
"6CJ6GN












/A>K>:?M>K

/HM:E


;9=A5<91:@(;2@C->1A>:5@A>1-:0!1-?14;809<>;B191:@?#1@
HFINM>K>JNBIF>GMLH?MP:K>:G=?NKGBMNK>:K>=>IK>=NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>>LMBF:M>=NL>?NE
EBO>LH?MA>:LL>MLPAB?KHFMAK>>MH?BO>R>:KL'>:L>AHE=BFIKHO>F>GML:K>:FHKMBS>=HG:LMK:B@AM
EBG>;:LBLHO>KMA>
LAHKM>KH?MA>BK>LMBF:M>=NL>?NEEBO>LHKMA>E>:L>M>KF>IK>QI>GL>P:LFBEEBHGBG?BL<:EFBEEBHGBG
?BL<:E:G=FBEEBHGBG?BL<:E$FI:BKF>GMEHLL>LP>K>GHMF:M>KB:EBG;HMA?BL<:ER>:KL>G=>=%:GN:KR
:G=NMH=>LDK>=BFI:BKF>GMEHLL>LH?FBEEBHGBGMA>?BL<:ER>:K>G=>=%:GN:KR
HFINM>K>JNBIF>GMLH?MP:K>?NKGBMNK>E>:L>AHE=BFIKHO>F>GML:G=MA>K>E:M>=:<==>IK>K>:L?HEEHPL


HFINM>KA:K=P:K>:MKLH?MP:K>:M:G=>JNBIF>GM:M:L>AHE=BFIKHO>F>GMLE:G=:G=;NBE=BG@L:MLL<==>IK>K>JNBIF>GMLH?MP:K>?NKGBMNK>:G=E>:L>AHE=BFIKHO>F>GMLG>M




HLMLBG=?HKKLH?MP:K>=>O>EHI>=HKH;M:BG>=?HKBGM>KG:ENL>:K><:IBM:EBS>=?HK:IIEB<:MBHG=>O>EHIF>GM
:LB?F:M>KB:E:G=BFF>=B:M>ER>QI>GL>=?HKIK>EBFBG:KRIKHC>L:G=IHLM
BFIE>F>GM:MBHG:L/A>L>
<:IBM:EBS>=:FHKMBS>=LMK:B@AM
EBG>HO>KMA>LH?MP:K>^L>QI>=NL>?NEEB?>PABG>K:EERMAK>>R>:KL


(;2@C->11B18;<91:@;?@?
.H?MP:K>=>O>EHIF>GMQM>KG:ENL>BG=IKBHKMHMA>>LM:;EBLAF>GMH?M>:LB;BEBMR:K>BG=
BGK>L>:KO>EHIF>GM>QI>GL>LNMH=>LD=>?BG>L>LM:;EBLAF>GMH?M>:LB;BEBMR:LMA>MBHGH?:
PHKDBG@FH=>E.H?MP:K>=>O>EHIF>GM=LN;L>JN>GMMHMA>>LM:;EBLAF>GMH?M>:LB;BEBMRMAKHN@AMA>
I>KBH=H?@>G>K:EF:KD>M:O:BE:;BEBMRH?MA>IKH=N<:IBM:EBS>=:G=@>G>K:EER:FHKMBS>=HO>K:MPH
R>:KI>KBH=B?F:M>KB:E
NMH=>LDA:=GHF:M>KB:E<:IBM:EBS>=LH?MP:K>=>O>EHIF>GM>-:3191:@?
NMH=>LD>GM>KLBGMH<>KM:BG=LH?MP:K>AHLMBG@:KK:G@>F>GMLMA:M:K>:<=?HK:LL>KOB<>=?HKMA>L>:KK:G@>F>GML:K><:IBM:EBS>=?HK:IIEB<:MBHG=>O>EHIF>GM:LB?F:M>KB:E:G=BFF>=B:M>ER>QI>GL>=?HK
IK>EBFBG:KRIKHC>L:G=IHLM
BFIE>F>GM:MBHG:LNMH=>LD:FHKMBS>LMA><:IBM:EBS>==>O>EHIF>GMHO>KMA>?BQ>=GHG
<:G<>EE:;E>M>KFH?MA>:LLH=AHLMBG@:KK:G@>F>GMIENL:GRK>:LHG:;ER<>KM:BGK>G>P:E
I>KBH=L/A><:IBM:EBS>=BG=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\HGHNK
HGLHEB=:M>=:E:G<>.A>>ML:IBM:EBS>=K>FBEEBHG:G=FBEEBHG:M%:GN:KR:G=%:GN:KR
K>LI>ER<=:FHKMBS:MBHGP:LFBEEBHG:G=FBEEBHG:M%:GN:KR:G=%:GN:KR
K>LI>ERFHKMBS:MBHG>QI>GL>P:LFBEEBHGFBEEBHG:G=FBEEBHGBG?BL<:E?BL<:E:G=?BL<:E
K>LI>ER
!1-?1?
NMH=>LD=>M>KFBG>LB?:G:KK:G@>F>GMBL:E>:L>:MBG<>IMBHG*I>K:MBG@E>:L>L:K>BG=BG[*I>K:MBG@E>:L>KB@AM
H?
NL>:LL>ML\[*I>K:MBG@E>:L>EB:;BEBMB>L\:G=['HG@
M>KFHI>K:MBG@E>:L>EB:;BEBMB>L\BGMA>HGLHEB=:M>=:E:G<>.A>>ML
*I>K:MBG@E>:L>KB@AM
H?
NL>:LL>MLK>IK>L>GMNMH=>LD^LKB@AMMHNL>:GNG=>KERBG@:LL>M?HKMA>E>:L>M>KF:G=HI>K:MBG@
E>:L>EB:;BEBMB>LK>IK>L>GMMA>HFI:GR^LH;EB@:MBHGMHF:D>E>:L>I:RF>GML:KBLBG@?KHFMA>E>:L>*I>K:MBG@E>:L>KB@AM
H?
NL>
:LL>ML:G=HI>K:MBG@E>:L>EB:;BEBMB>L:K>K>=:MG<>F>GM=:M>;:L>=HGMA>IK>L>GMO:EN>H?E>:L>I:RF>GMLHO>K
MA>E>:L>M>KF/A>HI>K:MBG@E>:L>KB@AM
H?
NL>:LL>ML:ELHBG:GRE>:L>I:RF>GMLF:=>:G=:K>K>=N<>=;R:GRE>:L>
BG<>GMBO>LNMH=>LDNL>LBMLBGF>GM:E;HKKHPBG@K:M>B?MA>HFI:GR^LE>:L>L=HGHMIKHOB=>:GBFIEB:=CNLM>=?HK
EH<:EL:L:IIEB<:;E>;:L>=HGMA>BG?HKF:MBHG:O:BE:;E>:MG<>F>GM=:M>BG=>M>KFBGBG@
MA>IK>L>GMO:EN>H?E>:L>I:RF>GML*IMBHGLMH>QM>G=HKM>KFBG:M>MA>E>:L>:K>K>=BG=>M>KFBGBG@MA>E>:L>M>KFPA>G
BMBLK>:LHG:;ER<>KM:BGMA:MMA>HIMBHGPBEE;>>Q>K='>:L>>QI>GL>?HKE>:L>I:RF>GMLBLK>=HG:LMK:B@AM
EBG>;:LBL
HO>KMA>E>:L>M>KF
NMH=>LDA:LE>:L>:@K>>F>GMLPBMAE>:L>:G=GHG
E>:L>GMLNMH=>LD:<E>:L>:G=GHG
E>:L>
GML:L:LBG@E>E>:L>GM
A?5:1??;9.5:-@5;:?
NMH=>LDK>M:G@B;E>:G=BGM:G@B;E>:LL>ML:=:G=EB:;BEBMB>L:LLNF>=BG:;NLBG>LL=HG
MA>BK>LMBF:M>=?:BKO:EN>L:MMA>=:M>H?MA>K>LI>:>Q<>IMBHGH?ML:G=L
B>=>?>KK>=K>O>GN>	PABK>=:G=F>:LNK>=HGMA>:BG:<PBMANMH=>LD^L[->O>GN>
->[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\/A>?:BKO:EN>L:LLB@G>=MHMA>
B=>GMB?B:;E>BGM:G@B;E>:LL>ML:=P>K>;:L>=HG>LMBF:M>L:G=:LLNFIMBHGL=>M>KFBG>=;RF:G:@>F>GMNMH=>LDK>=
MA>>Q<>LLH?K:MBHGMK:GL?>KK>=HO>KMA>:@@K>@:M>?:BKO:EN>L:L@HH=PBEENKBG@MA>F>:LNK>F>GMI>KBH=PABNIMHHG>R>:K?KHFMA>:NMH=>LDF:RK>GMLMHMA>L>M:G@B;E>:G=BGM:G@B;E>:LL>ML:=
:G=EB:;BEBMB>L:LLNF>=PBMAMA>LIHG=BG@H??L>MMH@HH=PBEE


9<-5>91:@;2!;:3!5B10??1@?
ME>:LM:GGN:EERHKFHK>?K>JN>GMER:LL=BNMH=>LDK>OB>PLBMLEHG@
EBO>=:LL>ML?HKBFI:BKF>GM
PA>G>O>KBFI:BKF>GMBG=B<:MHKL>QBLMNMH=>LDO>GML:G=LBGLMA:M
MA><:KKRBG@:FHNGMLH?BMLEHG@
EBO>=:LL>MLF:RGHM;>K>K:;E>2A>GLNO>GMLHKLBGLH<LD:LL>LL>LMA>K>K:;BEBMRH?MA>L>:LL>ML->K:;BEBMRBLF>:LNK>=;R<:KKRBG@:FHNGMLH?MA>
:LL>MLMHMA>?NMNK>NG=BL=<:LA?EHPMA>:LL>ML:K>>QI>=MH@>G>K:M>@>G>K:EERNLBG@'>O>EBGINML$?MA>EHG@
EBO>=
:LL>ML:K>BFI:BK>=MA>BFI:BKF>GMMH;>K>=BL>JN:EMHMA>:FHNGM;RPAB<:KKRBG@O:EN>H?MA>:LL>ML>Q<>>=LBML
?:BKF:KD>MO:EN>NMH=>LDK>=BFI:BKF>GMLHGE>:L>K>E:M>=KB@AM
H?
NL>:LL>MLK>E:M>=MH<>KM:BGH??B<>E>:L>L
=NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR:G=.>>)HM>['>:L>L\?HK?NKMA>K=BLK>K:;BEBMR:LL>LLF>GMLNMH=>LDKHNMBG>ERK>OB>PLMA>K>F:BGBG@>LMBF:M>=NL>?NEEBO>LH?BMLEHG@
EBO>=:LL>MLGRK>=NNL>?NEEB?>:LLNFIMBHGPBEEK>LNEMBGBG:L>==>IK>QI>GL>BGMA>
JN:KM>KPA>GLNM>KFBG:MBHGL:K>F:=>:LP>EE:LBGLN;L>JN>GMJN:KM>KL
;;0C588
"HH=PBEE>Q<>LLH?MA>K:MBHGMK:GL?>KK>=HO>KMA>?:BKO:EN>H?G>M:LL>ML:=BG;NLBG>LL
LDM>LML@HH=PBEE?HKBFI:BKF>GM:GGN:EERBGBML?HNKMA?BL<:EJN:KM>KHKFHK>H?M>GB?L
BG=B<:M>:IHM>GMB:EBFI:BKF>GMF:R>QBLMHKB?>O>GMLA:O>:??>=MA>IHKMBG@NGBM
NMH=>LDM>LML@HH=PBEE?HKBFI:BKF>GM;RI>K?HKFBG@:JN:GMBM:MBO>:LL>LLF>GMH?PA>MA>K?:BKO:EN>H?MA>K>IHKMBG@
NGBMBL@K>:M>KMA:GBML<:KKRBG@O:EN>$GLBMN:MBHGLBGPABGMBMR^LK>IHKMBG@NGBMBLIN;EB=MA>?:BKO:EN>H?MA>
:IIKHQBF:M>=;RBMLF:KD>M<:IBM:EBS:MBHGBGI>K?HKFBG@MA>JN:GMBM:MBO>BFI:BKF>GMM>LM
"HH=PBEEBFI:BKF>GM>QBLMLPA>GMA>>LMBF:M>=?:BKO:EN>H?@HH=PBEEBLE>LLMA:GBML<:KKRBG@O:EN>$?BFI:BKF>GM>QBLML
MA><:KKRBG@O:EN>H?MA>@HH=PBEEBLK>=N<>=MH?:BKO:EN>MAKHN@A:GBFI:BKF>GMK>=BGMA>HFI:GR^L
=LM:M>F>GMLH?HI>K:MBHGL/A>IKH<>LLH?>O:EN:MBG@MA>IHM>GMB:EBFI:BKF>GMH?@HH=PBEEBLLN;C>:G=K>JNBK>L
LB@GB?B<:GMCN=@F>GM:MF:GRIHBGML=NKBG@MA>:G:ERLBL/A>O:EN>H?NMH=>LD^L@HH=PBEEBFI:=;R?NMNK>
:=O>KL>LLNLBGNMH=>LD^L:LNEMLBB	:LNLM:BG>==>BGNMH=>LD^LF:KD>M
<:IBM:EBS:MBHGBBB	:LB@GB?B<:GMLEHP=HPGBGMA>PHKE=PB=>>BG=NLMKB>LNMH=>LDL>KO>LHKBO	LBG
NMH=>LD^L;NLBG>LLLMK:M>@R
!HKMA>:GGN:EBFI:BKF>GMM>LMNMH=>LD^LF:KD>M<:IBM:EBS:MBHGP:LLN;LM:GMB:EERBG>Q<>LLH?MA><:KKRBG@O:EN>H?MA>
HFI:GR:LH?%:GN:KR<LDA:L=>M>KFBG>=MA>K>P:LGH@HH=PBEEBFI:BKF>GMH?HNKK>IHKMBG@
NGBM=NKBG@MA>?BL<:ER>:K>G=>=%:GN:KR$G:==BMBHGNMH=>LD=B=GHMK>:GR@HH=PBEEBFI:BKF>GMEHLL>LBG
?BL<:EHK
/A>?HEEHPBG@M:;E>LNFF:KBS>LMA>LBGMA><:KKRBG@:FHNGMH?@HH=PBEE=NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR
:G=
"6CJ6GN

"6CJ6GN

"HH=PBEE;>@BGGBG@H?MA>R>:K




'>LL:<=BFI:BKF>GMEHLL>L;>@BGGBG@H?MA>R>:K

	 
	
)>M"HH=PBEE;>@BGGBG@H?MA>R>:K




==BMBHGL:KBLBG@?KHF:R>:K



 ??>B@GG:LNK>F>GMI>KBH=:=CNLMF>GML	


	
"HH=PBEE>G=H?MA>R>:K




888888888888888
	
(>:LNK>F>GMI>KBH=:=CNLMF>GMLK>?E>OBLBHGLF:=>MHMA>HFI:GRLIK>EBFBG:KR=>M>KFBG:MBHGH?>LMBF:M>=?:BKO:EN>H?:LL>ML
:G=EB:;BEBMB>L:LLNF>=
121>>10)-D??1@?
>?>KK>=M:Q:LL>ML:KBL>IKBF:KBER?KHFM:Q=BMLG>MHI>K:MBG@EHLL>L:G=MBFBG@=B??>K>G<>L?HKK>L>KO>L:<=
EB:;BEBMB>LLMH?>KK>=K>O>GN>INK=M>L:G=<:IBM:EBS>=BGM:G@B;E>LI:KMB:EERH??L>M;R0.=>?>KK>=


M:QEB:;BEBMB>LHG:=BGM:G@B;E>L:G=O:EN:MBHG:EEHP:G<>L:@:BGLM+HKMN@:E)>P5>:E:G=:EB?HKGB:(BMML=>?>KK>=M:Q:LL>ML:G==>?>KK>=M:Q:LL>MLMA:MPBEEKMBGMH<:IBM:EEHLLNIHGK>O>KL:EBGNLMK:EB::G=0.
NMH=>LDI>K?HKFL:JN:KM>KER:LL>LLF>GMH?MA>K>K:;BEBMRH?MA>L>G>M=>?>KK>=M:Q:LL>ML:G=;>EB>O>LBMPBEE@>G>K:M>
LN??BGM?NMNK>M:Q:;E>BGBG:IIKHIKB:M>M:QCNKBL=B:EBS>MA>G>M=>?>KK>=M:Q:LL>ML/A>R:K>F>:LNK>=NLBG@
>G:=M:QK:M>L>QI>=MH:IIERMHM:Q:;E>BGBGMA>R>:KLBGPABM>FIHK:KR=B??>K>G<>L:K>>QI>=MHK>O>KL>
1:EN:MBHG:EEHP:G<>L:K>>LM:;EBLA>=PA>GG><>LL:KRMHK>=N<>@KHLL=>?>KK>=M:Q:LL>MLMHMA>:FHNGMMA:MBLFHK>EBD>ERMA:G
GHMMH;>K>:EBS>=
(@;/7.-?10;9<1:?-@5;:D<1:?1
/A>?HEEHPBG@M:;E>LNFF:KBS>LLMH=GL:MBHG>QI>GL>?HK?BL<:E:G=:L?HEEHPL
>H86A1:6GC9:9"6CJ6GN




HLMH?LN;LG:G<>K>O>GN>






HLMH?HMA>KK>O>GN>





(:KD>MBG@:G=L:E>L






->L>:KO>EHIF>GM






">G>K:E:G=:=FBGBLMK:MBO>





.MH=GL:MBHG>QI>GL>K>E:M>=MHLMH>,N:EB?B>=
.MH+E:G .++	INKL






/:Q>QI>GL>;>G>?BM	




	
.MH=GL:MBHG>QI>GL>K>E:M>=MHLMHLG>M






NMH=>LDF>:LNK>LLMH=GL:MBHG@K:GM=:M>?:BKO:EN>H?MA>:P:K=:G=K>L>QI>GL>
K:M:;ERHO>KMA>K>JNBLBM>L>KOB<>I>KBH=PABG>K:EERMA>O>LMBG@I>KBH=NMH=>LD=>M>KFBG>LMA>@K:GM=:M>?:BKO:EN>H?
BMLLMH=I:RF>GM:P:K=L?HK@K:GMLH?>FIEHR>>LMHLK>E:M>=MHMA>>FIEHR>>LMHIE:GNLBG@MA>
E:L
(>KMHG[.(\	HIMBHG
IKBE/H=>M>KFBG>MA>@K:GM
=:M>?:BKO:EN>H?HNKLMH=I:RF>GM
:P:K=L?HKK>LMKB=LMHK?HKF:G<>LMHNL>MA>JNHM>=LMHHGMA>=:M>H?@K:GMNGE>LLMA>
:P:K=L:K>LN;C>MP>NL>MA>(HGM>:KEHLBFNE:MBHGFH=>E/A>(HGM>:KEHLBFNE:MBHG
FH=>ENMBEBS>LFNEMBIE>BGINMO:KB:;E>LMH>LMBF:M>MA>IKH;:;BEBMRMA:MF:KD>M:O>=/A>L>O:KB:;E>L
BGHNK>QI>=LMHOHE:MBEBMRHO>KMA>>QI>=M>KFH?MA>:P:K=:=>FIEHR>>LMHQ>K;>A:OBHKLMA>KBLD
?K>>BGM>K>LMK:M>?HKMA>>QI>=M>KFH?MA>:P:K=:G=>QI>==BOB=>G=L/A>O:KB:;E>LNL>=BG
MA>L>FH=>EL:K>K>OB>P>=HG:JN:KM>KER;:LBL:G=:=CNLM>=:LG>>=>=.MH=GL:MBHGLMKB=LMH:LNK>=HGMA>MO:EN>H?HNK=:M>H?@K:GMNMH=>LDNL>LMA>?HEEHPBG@:LLNFIMBHGL
MH>LMBF:M>MA>?:BKO:EN>H?LMH=:P:K=L
>H86A1:6GC9:9
>H86A1:6GC9:9
>H86A1:6GC9:9
"6CJ6GN

"6CJ6GN

"6CJ6GN

(:G;DGB6C8:
+ID8@-C>I
+((
(:G;DGB6C8:
+ID8@-C>I
+((
(:G;DGB6C8:
+ID8@-C>I
+((
-:G@>H?>QI>=OHE:MBEBMB>L











-:G@>H?>QI>=EBO>LBGR>:KL	
)


)


)


 QI>==BOB=>G=L
Z
Z
Z
Z
Z
Z
-:G@>H?KBLD
?K>>BGM>K>LMK:M>L











NMH=>LD>LMBF:M>L>QI>=OHE:MBEBMR?HKLMH=:P:K=L;:L>=HGMA>:O>K:@>H?MA>?HEEHPBG@MPHF>:LNK>L	:
F>:LNK>H?ABLMHKB<:EOHE:MBEBMRBGMA>MK:=BG@F:KD>M?HKMA>HFI:GR^LBFIEB>=OHE:MBEBMRH?MK:=>=
HIMBHGLMHINKLA:K>LH?MA>HFI:GR^L>QI>=OHE:MBEBMR?HKI>K?HKF:G<>LMHMLMA>>QI>=OHE:MBEBMRH?LPBMABGMA>.+)HKMAF>KB<:G/>$G=>Q
PBMA:F:KD>M<:IBM:EBS:MBHGHO>K;BEEBHG=>I>G=BG@HGMA>:P:K=MRI>


/A>K:G@>H?>QI>=EBO>LH? .++:P:K=L:K>;:L>=NIHGMA>?HNKLBQ
FHGMA>Q>KI>KBH=LPBMABG:
FHGMA
H??>KBG@I>KBH=
NMH=>LD=B=GHMI:R<:LA=BOB=>G=LBG?BL<:EHK:G==H>LGHM:GMBI:RBG@:GR<:LA=BOB=>G=LBG
MA>?HK>L>>:;E>?NMNK>HGL>JN>GMER:G>QI>==BOB=>G=RB>E=H?S>KHBLNL>=BGMA>.(HIMBHGIKBE:G=MA>
(HGM>:KEHLBFNE:MBHGFH=>E
/A>KBLD
?K>>BGM>K>LMK:M>NL>=BGMA>.(HIMBHGIKBE:G=MA>(HGM>:KEHLBFNE:MBHGFH=>E?HKLMH=
:P:K=LBLMA>ABLMHKB<:ERB>E=HG0./K>:LNKRL>LPBMA>JNBO:E>GMK>F:BGBG@EBO>L
NMH=>LDK>L>QI>GL>HGER?HKMA>LMH=:P:K=LMA:MNEMBF:M>ERO>LMNMH=>LD:<BMNK>LH?
LMH=:P:K=L:LMAHL>?HK?>BMNK>LH<@5?5:3D<1:?1?
=O>KMBLBG@>QI>GL>=:LBG=/HM:E:=O>KMBLBG@>QI>GL>LBG=P>K>FBEEBHGBG?BL<:E
FBEEBHGBG?BL<:E:G=FBEEBHGBG?BL<:E
#1@:/;91%1>(4->1
:LB<G>MBGI>KLA:K>BL=NLBG@MA>P>B@AM>=:O>K:@>GNF;>KH?LA:K>LH?I>KBH=BENM>=G>MBGI>KLA:K>BL=NLBG@MA>P>B@AM>=:O>K:@>LA:K>LH?I>KBH=:G=IHM>GMB:EER=BENMBO>LBG>??>LMKB=LMHK?HKF:G<>LA:K>
:P:K=L:G=LMHMK>:LNKRLMHMAH=
125:101:125@%1:?5;:%8-:?
/A>?NG=>=LM:MNLH?NMH=>LD^L=>?BG>=;>G>?BMI>GLBHGIE:GLBLK>=BGMA>HGLHEB=:M>=:E:G<>.A>>ML/A>
?NG=>=LM:MNLBLF>:LNK>=:LMA>=B??>K>G<>;>MP>>GMA>?:BKO:EN>H?IE:G:LL>ML:G=MA>IKHC>=;>G>?BMH;EB@:MBHG?HKMA>
?BL<:ER>:KLIK>L>GM>=/A>IKHC>=;>G>?BMH;EB@:MBHGK>IK>L>GMLMA>:L>GMO:EN>H?;>G>?BML>QI>=MH;>I:B=
NIHGK>MBK>F>GM;:L>=HG>FIEHR>>L>KOB<>L:EK>:=RK>G=>K>=:G=>LMBF:M>=?NMNK>GL:MBHGE>O>EL/A>?:BKO:EN>H?IE:G
:LL>MLK>IK>L>GMLMA>GMF:KD>MO:EN>H?NMH=>LD^LMHMA>O:KBHNL
IE:GLBG>??>MI>KBH=B<;>G>?BM=BGMA>HGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL:G=BGLL>KOB<>K>LMQI>=K>MNKGHGIE:G:LL>ML:FHKMBS:MBHGH?IKBHKL>KOB<>LIK>OBHNLERK>=:L:GMH?
HMA>KA>GLBO>BGEHLL	>KM:BG>O>GMLLNLBGMA>>FIEHR>>;:L>IE:G:F>G=F>GML:G=LBG
:LNEMBG:BGMA>=>?BG>=;>G>?BMH;EB@:MBHG:G=MA>LIHG=BG@MHHMA>K
A>GLBO>EHLL
":BGL:G=EHLL>L:G=IKBHKL>KOB<>=:L:GMH?G>MI>KBH=B<;>G>?BMHGLHEB=:M>=
.M:M>F>GMLH?*I>K:MBHGL:LMA>R:KBL>:K>K>=:L:GMH?HMA>KA>GLBO>BGEHLL	BGMA>HGLHEB=:M>=
.M:M>F>GMLH?HFIK>A>GLBO>$G/AHL>@:BGL:G=EHLL>L:G=IKBHKL>KOB<>LN;L>JN>GMER:FHKMBS>=:L:
GMH?G>MI>KBH=B<;>G>?BMKMA>:O>K:@>K>F:BGBG@L>KOB<>EBO>LH?MA>IE:GI:KMBM>KFBG>MA>IHKMBHGH?@:BGHKEHLLLN;C>F>:LNK>F>GMH?IKHC>=;>G>?BMH;EB@:MBHGL:G=G>MI>KBH=B<;>G>?BM=HG>LMBF:M>L:G=:LLNFIMBHGLMA:M
K>?E>M>KFLH?MA>IE:GL:G=NL>I:KMBGL:MBHG:@>:G=R>:KLH?L>KOB<>L:LP>EE
:L<>KM:BG:LLNFIMBHGLBGLMBF:M>LH?=BLL>QI>=K>MNKGH?IE:G:LL>MLK:M>H?GL:MBHGBG:L>L
BGM>K>LMK:M>L:G=FHKM:EBMRK:M>L


//;A:@5:3(@-:0->0?5:5?/-8

2BMAMA>>Q<>IMBHGH?MAHL>=BL=;>EHPMA>K>A:O>;>>GGHK><>GMLBG:<F>GMLBLLN>=;R
!.HK:=HIM>=;RMA>HFI:GR=NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRMA:M:K>:IIEB<:;E>MHMA>HFI:GR
//;A:@5:3(@-:0->0?0;<@10
$G%NG>MA>!.BLLN>=.0)H
[!:BK1:EN>(>:LNK>F>GM/HIB<	!:BK1:EN>(>:LNK>F>GMH?
 JNBMR.>L.N;C>->LMKBLMH:EE>JNBMRL>LF>:LNK>=:M
?:BKO:EN>MA:M:K>LN;C>K>LMKBGMBMB>L?KHFM:DBG@BGMH:<LMKBL:E>H?>JNBMRL>LPA>G>LMBF:MBG@?:BKO:EN>:G=BGMKH=N<>LK>JNBK>==BLL?HKLN??>?HKNMH=>LDL?BL<:ER>:K;>@BGGBG@!>;KN:KR:G=BGM>KBFI>KBH=LPBMABGMA:M?BL<:ER>:KPBMA
>:KER:=HIMBHGI>KFBMM>=NMH=>LD:=HIM>=.0
:LH?!>;KN:KR/A>:=HIMBHGH?.0)H
=B=GHM
A:O>:F:M>KB:EBFI:LD^L=?BG:GF>GML
'1/1:@8E5??A10-//;A:@5:3?@-:0->0?:;@E1@-0;<@10
$G)HO>F;>KMA>!.BLLN>=.0)H
[.>@F>GM->IHKMBG@/HIB<	$FIKHO>F>GMLMH->IHKM:;E>
.>@F>GMBLL\[.0
\	PABBGM>G=>=MHBFIKHO>K>IHKM:;E>L>@F>GM=BLK>JNBK>F>GML.0

>QI:G=LIN;EB<>GMBMB>L^L>@F>GM=BLL;RK>JNBKBG@=BLH?LB@GB?B<:GML>@F>GM>QI>GL>LMA:M:K>K>@NE:KER
IKHOB=>=MHMA>?HI>K:MBG@=>K:G=BG=PBMABG>:IHKM>=F>:LNK>H?L>@F>GMIKH?BMHKEHLL:G:FHNGM
:G==>LKL>@F>GMBM>FL:G=BGM>KBF=BLLH?:K>IHKM:;E>L>@F>GM^LIKH?BMHKEHLL:G=
:LL>MLEE=BLK>JNBK>F>GMLH?.0
:K>K>JNBK>=?HK>GMBMB>LPBMA:LBG@E>K>IHKM:;E>L>@F>GM.0
BL
>??>?HKNMH=>LD^L?BL<:ER>:K;>@BGGBG@!>;KN:KR:G=BGM>KBFI>KBH=L?HKNMH=>LD^L?BL<:ER>:K;>@BGGBG@
!>;KN:KR:G=LAHNE=;>:IIEB>=HG:K>MKHLI>;:LBLMH:EEI>KBH=LIK>L>GM>=NMH=>LDBLGMER>O:EN:MBG@MA>
>??>L
$G><>F;>KMA>!.BLLN>=.0)H
[$G/:Q>L/HIB<	$FIKHO>F>GMMH$G/:Q
BLL\[.0
\	MH>GA:G<>MA>MK:GLI:K>G?NEG>LLH?BGM:Q=BLL.0

K>JNBK>L=BL:@@K>@:M>=BG?HKF:MBHG:;HNM:K>IHKMBG@>GMBMRL>??>M:QK:M>K>EE:LBG?HKF:MBHGHGBG
M:Q>LI:B=/A>LM:G=:K=BLBGM>G=>=MH;>G>?BMBGO>LMHKL;RIKHOB=BG@FHK>=>M:BE>=BGM:Q=BLLMA:MPHNE=;>NL>?NE
BGF:DBG@<:IBM:E:EEH<:MBHG=>LMH:EE>GMBMB>LLN;C>M:Q>L.0
BL>??>?HK
NMH=>LD^L?BL<:ER>:K;>@BGGBG@!>;KN:KRHG:IKHLI>;:LBL :KER:=HIMBHGBLI>KFBMM>=NMH=>LDBLGMER
>O:EN:MBG@MA>>??>L

*:K:CJ:*:8DI>DC
'1B1:A15?-33>13-@5;:
NMH=>LDK>LK>O>GN>?KHFMA>L:E>H?	IKH=NKOB<>H??>KBG@L:G= L	K>G>P:E
?>>L?HK>QBLMBG@F:BGM>G:G<>IE:G:@K>>F>GMLMA:MP>K>BGBMB:EERINK=PBMA:I>KI>MN:ELH?MP:K>EB<>GL>:G=	KIKH=NKOB<>L/A>MAK>><:M>@HKB>L:K>IK>L>GM>=:LEBG>BM>FLHGNMH=>LD^LHGLHEB=:M>=.M:M>F>GMLH?
*I>K:MBHGL


$G?HKF:MBHGK>@:K=BG@MA>GMLH?NMH=>LD^LG>MK>O>GN>?KHFKL;RIKH=NH@K:IAB<EH<:MBHGL:E>LE:G=IKH=NP:L:L?HEEHPL
>H86A1:6G:C9:9"6CJ6GN




)>MK>O>GN>;RIKH=N G@BG>>KBG@:G=HGLMKN=B::G= GM>KM:BGF>GM

 
 

*MA>K

 
 

/HM:EG>MK>O>GN>






)>MK>O>GN>;R@>H@K:IAB<:K>:
F>KB<:L
0.
    

*MA>KF>KB<:L

 
 

/HM:EF>KB<:L






 NKHI>(B==E> :LM:G=?KB<:

 
 

LB:+:MK>O>GN>






)>MK>O>GN>;RL:E>LE
$G=BK>MK>O>GN>






)>MK>O>GN>;RIKH=N
>LB@G
    

(:D>

 
 

*MA>K

 
 

/HM:EG>MK>O>GN>







+:RF>GML?HKIKH=NG:G<>LN;LMRIB<:EER=N>BG:GGN:E
BGLM:EEF>GMLHKNI?KHGMPBMAI:RF>GMM>KFLH?MH=:RL+:RF>GMLHG L:K>MRIB<:EER=N>BG:GGN:EBGLM:EEF>GMLHO>K
MA>KFPBMAI:RF>GMM>KFLH?MH=:RLNMH=>LD=H>LGHMA:O>:GRF:M>KB:EO:KB:;E>K:MBHGLNMNKGLK>?NG=LP:KK:GMB>LHK:FHNGML=N>MHKL?HKPABLMBF:MBHGHKCN=@F>GMBL
K>JNBK>=:LH?MA>K>IHKMBG@=:M>
->F:BGBG@I>K?HKF:G<>H;EB@:MBHGLKFEHG@
M>KF:G=NG;BEE>==>?>KK>=K>O>GN>LH?
%:GN:KRNMH=>LDA:=K>F:BGBG@I>K?HKF:G<>H;EB@:MBHGLH?;BEEBHGPABIK>L>GMLMA>MHM:E
:EEH<:M>=MHK>F:BGBG@I>K?HKF:G<>H;EB@:MBHGLPAB@>G>K:EERK>=HO>KMA>G>QMMAK>>R>:KL2>>QI>;BEEBHGHKH?HNKK>F:BGBG@I>K?HKF:G<>H;EB@:MBHGL:LK>O>GN>=NKBG@MA>G>QMFHGMAL2>>QI>MA>K>F:BGBG@;BEEBHGHKH?HNKK>F:BGBG@I>K?HKF:G<>H;EB@:MBHGL:LK>O>GN>MA>K>:?M>K
/A>:FHNGMH?K>F:BGBG@I>K?HKF:G<>H;EB@:MBHGLF:R;>BFI:=;RMA>LI>H?K
LN;L>F>GMLMA>LI>KK>G>P:EL:G=?HK>B@GG-/@-8-:/1?
2>K><>BO>I:RF>GML?KHFKL;:L>=HG:;BEEBG@L=NE>:L>LM:;EBLA>=BGHNKMLK>E:M>MH
I>K?HKF:G<>M>=BG:=O:G<>H?L=NE>=;BEEBG@LHGMK:MLP>K>GHMF:M>KB:E:LH?%:GN:KR>?>KK>=
K>O>GN>K>E:M>LMH;BEEBG@LBG:=O:G<>H?I>K?HKF:G<>NG=>KMA>IKBF:KRLBGHNKML:G=
=>?>KK>=K>O>GN>L:K>=N>MHHNKI>K?HKF:G<>NG=>KMA>O>GN>K>==NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR:G=MA:MP:LBG=BGMA>=>?>KK>=K>O>GN>
;:E:G<>L:M%:GN:KR:G=P:L;BEEBHG:G=;BEEBHGK>LI>ER/A>L:MBL?:K?HKF:G<>
H;EB@:MBHGLMRIB<:EERE:@L;>ABG=;BEEBG@LK><>BO>=NG=>KK>O>GN>KL

>C6C8>6A!CHIGJB:CIH
/A>?HEEHPBG@M:;E>LLNFF:KBS>MA>HFI:GR^L?BG:GGML;RLB@GB?B<:GMBGO>LMF>GM<:M>@HKR:LH?%:GN:KR
:G=
"6CJ6GN

BDGI>O:9
DHI
GDHH
-CG:6A>O:9
6>CH
GDHH
-CG:6A>O:9
$DHH:H
6>G
.6AJ:
:LA>JNBO:E>GML	
(HG>RF:KD>M?NG=L



Z

Z


HFF>KK



Z

Z


0.@HO>KGF>GML>L



Z

Z


>KMB?B<:M>LH?=>IHLBM



Z

Z


*MA>K	



Z

Z


(:KD>M:;E>L>L
.AHKM
M>KF
HFF>KK



Z

Z


HKIHK:M>=>;ML>L



Z


0.@HO>KGF>GML>L



Z

Z


LL>M;:=L>L



Z

Z


*MA>K	



Z


'HG@
M>KF
HKIHK:M>=>;ML>L





Z


LL>M;:=L>L



Z

Z


@>G
;:=L>L



Z

Z


0.@HO>KGF>GML>L



Z

Z


*MA>K	



Z

Z


(NMN:E?NG=L		





	 

/HM:E





	  
88888888888888888888
	
$G=BG[:LA:G=<:LA>JNBO:E>GML\BGMA>:<=:E:G<>.A>>ML/A>L>BGO>LMF>GML:K>=:L=>;M
L>L
	
HGLBLMLIKBF:KBERH?FHKM@:@>
;:=L>L:G==>;ML>L
	
HGLBLMLIKBF:KBERH?:@>GKGF>GML>LFHKM@:@>
;:=L>L<>KMB?B<:M>LH?=>IHLBM:G=
:@>GGGK:EBS>=FHKM@:@>H;EB@:MBHGL:G=FHKM@:@>
;:=L>L
	
.>>)HM>>?>KK>=HFI>GL:MBHG?HKFHK>BG?HKF:MBHG
	
$G=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\HK['HG@
M>KFHMA>K:LL>ML\BGMA>:<=:E:G<>.A>>ML


"6CJ6GN

BDGI>O:9
DHI
GDHH
-CG:6A>O:9
6>CH
GDHH
-CG:6A>O:9
$DHH:H
6>G
.6AJ:
:LA>JNBO:E>GML	
(HG>RF:KD>M?NG=L



Z

Z


HFF>KK



Z

Z


>KMB?B<:M>LH?=>IHLBM



Z

Z


0.@HO>KGF>GML>L



Z

Z


*MA>K	



Z

Z


(:KD>M:;E>L>L
.AHKM
M>KF
HKIHK:M>=>;ML>L



Z


HFF>KK



Z

Z


LL>M;:=L>L



Z

Z


0.@HO>KGF>GML>L



Z

Z


*MA>K	



Z


'HG@
M>KF
HKIHK:M>=>;ML>L



Z

Z


0.@HO>KGF>GML>L



Z

Z


LL>M;:=L>L



Z

Z


*MA>K	



Z

Z


(NMN:E!NG=L		





	 

HGO>KMB;E>=>;ML>L	





	 

.MK:M>@B<BGO>LMF>GML=>KBO:MBO>:LL>M	



Z

	 
Z
/HM:E





	  
88888888888888888888
	
$G=BG[:LA:G=<:LA>JNBO:E>GML\BGMA>:<=:E:G<>.A>>ML/A>L>BGO>LMF>GML:K>=:L=>;M
L>L
	
HGLBLMLH?IHLBML:@>GLFNGB=>;ML>L:LL>M
;:=L>L:G=
FHKM@:@>
;:=L>L
	
HGLBLMLH?FHKM@:@>
;:=L>L:@>G
;:=L>LGK:EBS>=FHKM@:@>
H;EB@:MBHGL
	
HGLBLMLH?:@>G
;:=L>L:@>GGK:EBS>=FHKM@:@>H;EB@:MBHGLFHKM@:@>
;:=L>L
:G=K:EBS>=FHKM@:@>H;EB@:MBHGL
	
.>>)HM>>?>KK>=HFI>GL:MBHG?HKFHK>BG?HKF:MBHG
	
$G=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\HK['HG@
M>KFHMA>K:LL>ML\BGMA>:<=:E:G<>.A>>ML
/A>?HEEHPBG@M:;E>LNFF:KBS>LMA>?:BKO:EN>LH?BGO>LMF>GML=:LF:KD>M:;E>=>;ML>L;R:LH?%:GN:KR
6>G.6AJ:
N>PBMABGR>:K


N>BGR>:KMAKHN@AR>:KL

N>BGR>:KLMAKHN@AR>:KL

N>:?M>KR>:KL

/HM:E


LH?;HMA%:GN:KR:G=NMH=>LDA:=GHF:M>KB:ENGK>:EBS>=EHLL>LBG=BOB=N:EER:G=BGMA>:@@K>@:M>?HK
F:KD>M:;E>=>;ML>LMA:M:K>BG::EBS>=EHLLIHLBMBHG?HK@K>:M>KMA:GFHGMAL/HM:ENGK>:EBS>=@:BGL
?HKL>LPBMAG>M@:BGLBG:<=HMA>KA>GLBO>BGP>K>GHMF:M>KB:E?HK?BL<:E


NMH=>LDFHGBMHKL:EEF:KD>M:;E>=>;ML>L?HKIHM>GMB:E=BMEHLL>L;RK>OB>PBG@BG=B<:MHKLLN=MHGM=BMK:MBG@BG=BMK:MBG@=BMHNMEHHD:G==>?:NEMKBLD/A>K>P>K>GH:EEHP:G<>L?HK=BM
EHLL>L:LH?;HMA%:GN:KR:G=/A>K>P>K>GHPKBM>H??LH?:<=BGM>K>LMK><>BO:;E>L?HK;HMA?BL<:E:G=

/A>K>P>K>GHF:M>KB:EK>:EBS>=@:BGHKEHLL?HKMA>L:E>LHKK>=>FIMBHGLH?=>;ML>L=NKBG@?BL<:E:G=
->:EBS>=@:BGL:G=EHLL>L?KHFMA>L:E>HKK>=>FIMBHGH?F:KD>M:;E>L>L:K>K>=BG[$GM>K>LM:G=HMA>KBG
>QI>GL>	G>M\HGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL
+KH<>>=L?KHFMA>L:E>:G=F:MNKBMRH?F:KD>M:;E>=>;ML>LP>K>:L?HEEHPL
>H86A1:6GC9:9



(:KD>M:;E>=>;ML>L






(@>-@135/5:B1?@91:@?5:1=A5@E?1/A>5@51?
LH?%:GN:KR:G=NMH=>LDA:=FBEEBHG:G=FBEEBHGK>LI>ERBG=BK>LMF>GMLBG
IKBO:M>ERA>E=L/A>L>LMK:M>@B<BGO>LMF>GMLBG>JNBMRL>L=HGHMA:O>K>:=BER=>M>KFBG>=?:BKO:EN>L:G=
NMH=>LDNL>LMA>F>:LNK>F>GM:EM>KG:MBO>MH:<:=CNLMF>GMMHMA>L>BGO>LMF>GMLBG:@BO>GJN:KM>K$?NMH=>LD
=>M>KFBG>LMA:M:GBFI:BKF>GMA:LH<=NMH=>LDPKBM>L=HPGMA>BGO>LMF>GMMHBML?:BKO:EN>/A>L>LMK:M>@B<BGO>LMF>GML
BG>JNBMRL>L:K>@>G>K:EERLN;C>LMKBL:E>HKMK:GL?>KH?MA>K>LI>
>JNBMRL>AHE=BG@I>KBH=
=CNLMF>GMLMHMA><:KKRBG@O:EN>H?HNKLMK:M>@B<BGO>LMF>GMLBG>JNBMRL>LPBMAGHK>:=BER=>M>KFBG>=?:BKO:EN>L
F>:LNK>=NLBG@MA>F>:LNK>F>GM:EM>KG:MBO>:K>BG=BG$GM>K>LM:G=*MA>K$G QI>GL>	G>MHGMA>HFI:GR^L
HGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL/A>L>:=CNLMF>GMLP>K>:L?HEEHPL
>H86A1:6GC9:9
JBJA6I>K:BDJCI6HD;



"6CJ6GN

0IP:K=:=CNLMF>GML

Z






)>@:MBO>:=CNLMF>GMLBGGML

	 
	 
	 
	
)>M:=CNLMF>GML

	 
	 
	 
	
NMH=>LD=H>LGHMKMA>K>F:BGBG@BGO>LMF>GMLMH;>BFI:BK>=:LH?%:GN:KR
-5>+-8A1
NMH=>LD:IIEB>L?:BKO:EN>:<KM:BG?BG:GML:G=EB:;BEBMB>LPABJNBO:E>GML
F:KD>M:;E>L>L:G=HMA>K?BG:GGMLHG:K>HFI:GR=>?BG>L?:BKO:EN>:LMA>IKB<>MA:M
PHNE=;>K><>BO>=?KHFL>EEBG@:G:LL>MHKI:B=MHMK:GL?>K:EB:;BEBMRBG:GHK=>KERMK:GL:MP>>GF:KD>MI:KMB
F>:LNK>F>GM=:M>
/A>?HEEHPBG@M:;E>LLNFF:KBS>MA>HFI:GRL?BG:GGMLF>:LNK>=:M?:BKO:EN>HG:K>LMF>GM<:M>@HKR:LH?%:GN:KR:G=


"6CJ6GN

$:K:A
$:K:A
$:K:A
,DI6A
:LA>JNBO:E>GML	
(HG>RF:KD>M?NG=L



Z

Z 

HFF>KK

Z



Z 

0.@HO>KGF>GML>L

Z



Z 

>KMB?B<:M>LH?=>IHLBM

Z



Z 

*MA>K	

Z



Z 

(:KD>M:;E>L>L
.AHKM
M>KF
HFF>KK

Z



Z 

HKIHK:M>=>;ML>L

Z



Z 

0.@HO>KGF>GML>L

Z



Z 

LL>M;:=L>L

Z



Z 

*MA>K	

Z



Z 

'HG@
M>KF
HKIHK:M>=>;ML>L

Z



Z 

LL>M;:=L>L

Z



Z 

@>GKGF>GML>L

Z



Z 

*MA>K	

Z



Z 

'HG@
M>KFHMA>K:LL>ML
(NMN:E?NG=L		



Z

Z 

>KBO:MBO>:LL>ML
>KBO:MBO>ML	

Z



Z 

>KBO:MBO>EB:;BEBMB>L
>KBO:MBO>L	

Z

	 
Z 
	
/HM:E





Z  
88888888888888888888
	
$G=BG[:LA:G=<:LA>JNBO:E>GML\BGMA>:<=:E:G<>.A>>ML/A>L>BGO>LMF>GML:K>=:L=>;M
L>L
	
HGLBLMLIKBF:KBERH?FHKM@:@>
;:=L>L:G==>;ML>L
	
HGLBLMLIKBF:KBERH?:@>GKGF>GML>LFHKM@:@>
;:=L>L<>KMB?B<:M>LH?=>IHLBM:G=
:@>GGGK:EBS>=FHKM@:@>H;EB@:MBHGL:G=FHKM@:@>
;:=L>L
	
.>>)HM>>?>KK>=HFI>GL:MBHG?HKFHK>BG?HKF:MBHG
	
$G=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\HK['HG@
M>KFHMA>K:LL>ML\BGMA>:<=:E:G<>.A>>ML
	
$G=BG[*MA>K:<=EB:;BEBMB>L\BGMA>:<=:E:G<>.A>>ML


"6CJ6GN

$:K:A
$:K:A
$:K:A
,DI6A
:LA>JNBO:E>GML	
(HG>RF:KD>M?NG=L



Z

Z 

HFF>KK

Z



Z

>KMB?B<:M>LH?=>IHLBM

Z



Z

0.@HO>KGF>GML>L

Z



Z

*MA>K	





Z

(:KD>M:;E>L>L
.AHKM
M>KF
HKIHK:M>=>;ML>L

Z



Z

HFF>KK

Z



Z

LL>M;:=L>L

Z



Z

0.@HO>KGF>GML>L

Z



Z

*MA>K	

Z



Z

'HG@
M>KF
HKIHK:M>=>;ML>L

Z



Z

0.@HO>KGF>GML>L

Z



Z

LL>M;:=L>L

Z



Z

*MA>K	

Z



Z

'HG@
M>KFHMA>K:LL>ML
(NMN:E!NG=L		



Z

Z

HGO>KMB;E>=>;ML>L	

Z

Z



>KBO:MBO>:LL>ML
>KBO:MBO>ML	

Z



Z

>KBO:MBO>EB:;BEBMB>L
>KBO:MBO>L	

Z

	 
Z 
	
/HM:E





  
88888888888888888888
	
$G=BG[:LA:G=<:LA>JNBO:E>GML\BGMA>:<=:E:G<>.A>>ML/A>L>BGO>LMF>GML:K>=:L=>;M
L>L
	
HGLBLMLH?IHLBML:@>GLFNGB=>;ML>L:LL>M
;:=L>L:G=
FHKM@:@>
;:=L>L
	
HGLBLMLH?FHKM@:@>
;:=L>L:@>G
;:=L>LGK:EBS>=FHKM@:@>
H;EB@:MBHGL
	
HGLBLMLH?:@>G
;:=L>L:@>GGK:EBS>=FHKM@:@>H;EB@:MBHGLFHKM@:@>
;:=L>L
:G=K:EBS>=FHKM@:@>H;EB@:MBHGL
	
.>>)HM>>?>KK>=HFI>GL:MBHG?HKFHK>BG?HKF:MBHG
	
$G=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\HK['HG@
M>KFHMA>K:LL>ML\BGMA>:<=:E:G<>.A>>ML
	
$G=BG[*MA>K:<=EB:;BEBMB>L\BGMA>:<=:E:G<>.A>>ML



FJ>INDBE:CH6I>DC
(@;/7%8-:?
/A> JNBMR$G<>GMBO>+E:GMA>[+E:G\	P:L:IIKHO>=;RNMH=>LD^LLMHKL:G=;><:F>>??>HG
%NG>/A>+E:GK>IE:<>=MA> FIEHR>>.MHG=>=:G=MA>*NMLB=>BK>G=>=ERMA>[+KBHK+E:GL\	:G=GH?NKMA>K>JNBMR:P:K=LF:R;>@K:GM>=NG=>KMA>+KBHK+E:GL/A>
+E:GK>L>KO>LNIMHFBEEBHGLA:K>L/A>+E:GI>KFBMLMA>@K:GMH?LMHLMKB=LMHLMKB=
LMHFIEHR>>L:G=GHG
>FIEHR>>F>F;>KLH?MA>H:K=H?BK>LMKB=LMHLMKB=LMH=PBEE;>=:@:BGLMMA>LA:K>L:NMAHKBS>=?HKBLLN:G<>NG=>KMA>+E:G:LLA:K>L$?:@K:GM>=HIMBHG
K>LMKB=LMHLMKB=LMHQIBK>LHK;>LNG>Q>K?HK:GRK>:LHGMA>NGINK=HK?HK?>BM>=
LA:K>LMA:MP>K>@K:GM>=F:R;>K>MNKG>=MHMA>+E:G:G=F:R;>:O:BE:;E>?HK?NMNK>@K:GMNG=>KMA>+E:GL
H?%:GN:KRFBEEBHGLA:K>LLN;C>LMKB=LMHLMKB=LMH;>>G@K:GM>=NG=>KMA>
+E:G->LMKB=LMHK>@K:GM>=NG=>KMA>+E:GO>LMHO>KHG>MHMAK>>R>:KL?KHFMA>=:M>H?@K:GM/A>
+E:GPBEE>QIBK>HG(:KERFBEEBHGLA:K>LP>K>:O:BE:;E>?HK?NMNK>
BLLN:G<>NG=>KMA>+E:G
/A>?HEEHPBG@L>:KNMH=>LD^LLMH5/@10(@;/7*:5@?
LNFF:KRH?K>LMKB=LMH?BL<:ER>:K>G=>=%:GN:KRP:L:L?HEEHPL
-CG:A:6H:9
*:HIG>8I:9+ID8@
-C>IH
>CI=DJH6C9H
/:><=I:9
6K:G6<:GK6AJ:
E:GH=6G:
0GO>LM>=K>LMKB=LMH=




1>LM>=

	 

:G<>E>=!HK?>BM>=

	 

+>K?HKF:G<>=CNLMF>GM	

	 

0GO>LM>=K>LMKB=LMH=HGNMH=>LD^L?BG:GLNEML:G=K>E:MBO>MHM:ELMHKK>MNKG?HKMA>?BL<:EI>K?HKF:G<>I>KBH=/A>I>K?HKF:G<>
LMHK>:MM:BG>=:MK:M>LK:G@BG@?KHFMHH?MA>M:K@>M:P:K=
!HKMA>K>LMKB=LMH==NKBG@?BL<:ER>:KL>G=>=%:GN:KR:G=MA>P>B@AM>=:O>K:@>@K:GM
=:M>?:BKO:EN>LP>K>:G=K>LI>ER/A>?:BKO:EN>H?MA>LA:K>LO>LM>==NKBG@?BL<:ER>:KL>G=>=
%:GN:KR:G=P>K>FBEEBHGFBEEBHG:G=FBEEBHGK>LI>ER
NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRNMH=>LD@K:GM>=FBEEBHGK>LMKB=LMHLMKB=LMHLMHO>KI>KBH=LK:G@BG@?KHFBFF>=B:M>ERNIHG@K:GMMH:IK>
=>M>KFBG>==:M>MA:MBLMRIB<:EERPBMABGMAK>>R>:KL?KHFMA>
=:M>H?@K:GM->LMKB=LMHGHMK>=HNMLM:G=BG@LMHMBF>H?@K:GM:LMA>AHE=>KLH?MA>L>NGBML:K>
GHM>GMBME>=MH:GRH?MA>KB@AMLH?:LMHKBG?:BKO:EN>H?MA>K>LMKB=LMHQI>GL>=
K:M:;ERHO>KMA>O>LMBG@I>KBH=
NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR:G=NMH=>LDL>MME>=EB:;BEBMR
=:P:K=LH?FBEEBHG:G=
FBEEBHGK>LI>ERLMA>L>:P:K=LP>K>L>MME>=BG:?BQ>==HEE:K:FHNGMH?LA:K>LMA>:P:K=LP>K>:<=?HK:L:
EB:;BEBMR
=:P:K=:G=P>K>>QI>GL>=NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=
NMH=>LDK>=LMH=GL:MBHG>QI>GL>K>E:M>=MHK>LMKB=LMH:KL>G=>=%:GN:KR:G=K>LI>ERLH?%:GN:KRMHM:E
GL:MBHGMK>=H?FBEEBHGK>E:M>=MHNGO>LM>=:P:K=LBL>QI>=MH;>K>=HO>K:P>B@AM>=
:O>K:@>I>KBH=H?R>:KLM%:GN:KRMA>GNF;>KH?K>LMKB=LMH=;NMNGO>LM>=P:LFBEEBHG


NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRNMH=>LD@K:GM>=MAHNL:G=I>K?HKF:G<>LMH
NEMBF:M>GNF;>KH?LA:K>L>:KG>=BL=>M>KFBG>=;:L>=HGMA>:O>F>GMH?I>K?HKF:G<>KB::MMA>>G=H?MA>LM:M>=
L>KOB<>:G=I>K?HKF:G<>I>KBH=/A>I>K?HKF:G<>KB:?HKMA>I>K?HKF:G<>LMHIKBF:KBER;:L>=HGK>O>GN>:G=
?K>><:LA?EHP@H:EL:=HIM>=;RMA>HFI>GL:MBHG:G=#NF:G->LHNK<>HFFBMM>>:G=MHM:ELMHKK>MNKG=
:@:BGLMLBGMA>.+)HKMAF>KB<:G/>$G=>QPBMA:F:KD>M<:IBM:EBS:MBHGHO>K;BEEBHG
[->E:MBO>/.-\	/A>?:BKO:EN>H?MA>I>K?HKF:G<>LMHQI>GL>=NLBG@MA>:<<>E>K:M>=:MMKB;NMBHGF>MAH=HO>KMA>
MAK>>
R>:KO>LMBG@I>KBH=:G=A:O>MA>?HEEHPBG@O>LMBG@L=NE>
X
0IMHHG>MABK=H?MA>I>K?HKF:G<>LMHLM?HEEHPBG@R>:KHG>=>I>G=BG@NIHGMA>:O>F>GMH?MA>
I>K?HKF:G<>KB:?HK?BL<:E:LP>EE:LHG>
R>:K->E:MBO>/.-KBG@R>:KHG>	
X
0IMHHG>MABK=H?MA>I>K?HKF:G<>LMHLM?HEEHPBG@R>:KMPH=>I>G=BG@NIHGMA>:O>F>GMH?MA>
I>K?HKF:G<>KB:?HKR>:KMPH:LP>EE:LMPH
R>:K->E:MBO>/.-KBG@R>:KLHG>:G=MPH	
X
0IMHHG>MABK=H?MA>I>K?HKF:G<>LMHLM?HEEHPBG@R>:KMAK>>=>I>G=BG@NIHGMA>:O>F>GMH?MA>
I>K?HKF:G<>KB:?HKR>:KMAK>>:LP>EE:LMAK>>
R>:K->E:MBO>/.-KBG@R>:KLHG>MPH:G=MAK>>	
/A>I>K?HKF:G<>KB:?HKMA>I>K?HKF:G<>LMHLM>==NKBG@?BL<:ER>:K>G=>=%:GN:KRP:L;:L>=HG
K>O>GN>:G=?K>><:LA?EHP@H:EL:=HIM>=;RMA>HFI>GL:MBHG:G=#NF:G->LHNK<>HFFBMM>>
+>K?HKF:G<>LMHGHMK>=HNMLM:G=BG@LMHMBF>H?@K:GM:LMA>AHE=>KLH?MA>L>NGBML:K>GHM
>GMBME>=MH:GRH?MA>KB@AMLH?:LMHKBG?:BKO:EN>H?MA>I>K?HKF:G<>LMHQI>GL>=
NLBG@MA>:<<>E>K:M>=:MMKB;NMBHGHO>KMA>O>LMBG@I>KBH=
NMH=>LDK>=LMH=GL:MBHG>QI>GL>K>E:M>=MHI>K?HKF:G<>LMH:KL>G=>=%:GN:KR:G=K>LI>ERLH?%:GN:KRMHM:E
GL:MBHGMK>=H?FBEEBHGK>E:M>=MHNGO>LM>=I>K?HKF:G<>LMHQI>=MH;>K>=
HO>K:P>B@AM>=:O>K:@>I>KBH=H?R>:KLM%:GN:KRMA>GNF;>KH?I>K?HKF:G<>LMH=;NMNGO>LM>=
P:LMAHNL:G=
;99;:(@;/7
NMH=>LDK>=LMH=GL:MBHG>QI>GL>K>E:M>=MHLH?FBEEBHGFBEEBHG:G=
FBEEBHG=NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ER
9<8;E11&A-852510(@;/7%A>/4-?1%8-:H(%%I
0G=>KNMH=>LD^L .++PAB=;RLMHKLBG>EB@B;E>>FIEHR>>LF:RINKLA:K>LH?
NMH=>LD^LBK=BLMBHGNLBG@NIMHH?MA>BK>EB@B;E>GL:MBHGLN;C>KM:BGEBFBM:MBHGL:M
H?MA>EHP>KH?NMH=>LDL?:BKF:KD>MO:EN>	HGMA>H??>KBG@=:M>HKMA>>Q>K=:M>/A>H??>KBG@I>KBH=
?HK .++:P:K=LQ>KI>KBH=LPBMABG:
FHGMAH??>KBG@I>KBH=
M%:GN:KR:MHM:EH?FBEEBHGLA:K>LP>K>:O:BE:;E>?HK?NMNK>BLLN:G<>0G=>KMA> .++MA>HFI:GRBLLN>L
LA:K>LHGMA>?BKLMMK:=BG@=:R?HEEHPBG@(:KIM>F;>KH?>::K/A> .++=H>LGHMA:O>:G>QIBK:MBHG
=:M>
LNFF:KRH?MA> .++:?BL<:ER>:KL>G=>=%:GN:KR:G=P:L:L?HEEHPL
>H86AN:6G:C9:9"6CJ6GN




$LLN>=LA:K>LBGMAHNL:G=L	






O>K:@>IKB<>H?BLLN>=LA:K>L






2>B@AM>=:O>K:@>@K:GM=:M>?:BKO:EN>H?:P:K=L@K:GM>=NG=>KMA> .++






NMH=>LDK>=FBEEBHGFBEEBHG:G=FBEEBHGH?GL:MBHG>QI>GL>:LLH=PBMAMA> .++BG?BL<:E
:G=K>LI>ER


=A5@E;9<1:?-@5;:%8-::2;>9-@5;:
/A>?HEEHPBG@M:;E>LNFF:KBS>LMA>GNF;>KH?HNMLM:G=BG@HIMBHGL:G=:P:K=L@K:GM>=MH>FIEHR>>L:G==BK>EE:LMA>GNF;>KH?L>LK>F:BGBG@:O:BE:;E>?HK?NMNK>BLLN:G<>NG=>KMA>L>IE:GL:LH?%:GN:KR
6
7
8
(A6C86I:I>:H
ID7:>HHJ:9JEDC
:M:G8>H:DGK:HI>C<D;
DJIHI6C9>C<DEI>DCH
6C96L6G9H>C
B>AA>DCH
/:><=I:9	
6K:G6<::M:G8>H:
EG>8:D;
DJIHI6C9>C<
DEI>DCH
&JB7:GD;H:8JG>I>:HG:B6>C>C<
6K6>A67A:;DG;JIJG:>HHJ6C8:
JC9:G:FJ>IN8DBE:CH6I>DCEA6CH
:M8AJ9>C<H:8JG>I>:HG:;A:8I:9>C
8DAJBC6>CB>AA>DCH

 JNBMRGL:MBHGIE:GL:IIKHO>=;RL>KL





/HM:E





88888888888888888888
	
$G=BGMABL:FHNGM:K>FBEEBHGL>L:O:BE:;E>?HK?NMNK>BLLN:G<>NG=>KNMH=>LD^L .++

!C8DB:,6M:H
/A>IKHOBLBHG?HKBGM:Q>L?HEEHPBG@
>H86AN:6G:C9:9"6CJ6GN




!>=>K:E
NKK>GM





	
>?>KK>=

	 
	 
	
.M:M>
NKK>GM





>?>KK>=


	 

!HK>B@G
NKK>GM






>?>KK>=


	 
	
$GM:QIKHOBLBHG






!HK>B@GIK>M:QBGP:LFBEEBHGBG?BL<:EFBEEBHGBG?BL<:E:G=FBEEBHGBG?BL<:E


/A>=B??>K>G<>L;>MP>>GMA>0.LM:MNMHKRK:M>:G=MA>:@@K>@:M>BGM:QIKHOBLBHG:K>:L?HEEHPL
!BL<:ER>:K>G=>=%:GN:KR



$GM:QIKHOBLBHG:M0.!>=>K:ELM:MNMHKRK:M>






.M:M>BGM:Q;>G>?BMG>MH?MA>0.!>=>K:E;>G>?BM


	 

!HK>B@GBGM:Q>=:MK:M>L=B??>K>GM?KHFMA>0.LM:MNMHKRK:M>

	 


	
1:EN:MBHG:EEHP:G<>:=CNLMF>GM


	 
Z
/:Q>??>=NLMH=GL:MBHG





.MHGL:MBHGPBG=?:EE	LAHKM?:EE




	
->L>:KO>EHIF>GMM:Q=BM;>G>?BM

	 
	 
	
EHLNK>H?BGM:Q:N=BML:G=LBGNG<>KM:BGM:QIHLBMBHGL




Z
/:Q>??>KGL:MBHGBG>Q<>LLH?FBEEBHG





)HG
=>=N>QI>GL>L





"EH;:EBGM:G@B;E>EHP
M:Q>=BG?HK>B@G=>KBO>=BGM:G@B;E>BG

	 
	 

$G=B:PBMAAHE=BG@M:QK>?NG=
Z

Z

	
E:M>=BGM>@K:MBHGL

	 
	 

*MA>K
Z

	 

$GM:QIKHOBLBHG






NMH=>LD^L?BL<:EM:Q>QI>GL>BLIKBF:KBER=KBO>G;RMA>0.:G=?HK>B@GM:Q>QI>GL>BGL
HGI:RF>GMLF:=>MHMA>0GBM>=.M:M>LHKMH.BG@:IHK>?KHF?HK>B@GLHNK<>L:GBG:L>BGM:Q>QI>GL>K>E:MBG@MHLMH=
GL:MBHGK>=N<>=;RGHG
K>@K:MBHGG>MM:Q;>G>?BM:G=:GBGM:Q;>G>?BM:KBLBG@?KHFK>EB>?IKHOB=>=;R
MA>$GM>KG:E->O>GN>.>KOB<>K>E:MBG@MH0.?HK>B@GM:Q=BMK>@NE:MBHGL


.B@GB?B<:GMGMLH?NMH=>LD^L=>?>KK>=M:Q:LL>ML:G=EB:;BEBMB>L:K>:L?HEEHPL
"6CJ6GN



.MH=GL:MBHG




->L>:KO>EHIF>GMM:Q=BM<:KKR?HKP:K=L




!HK>B@GM:Q=BM<:KKR?HKP:K=L


Z
<=GL:MBHG:G=;>G>?BML



*MA>K:<GMER=>=N?HKM:Q



:IBM:EBS>=K>L>:KO>EHIF>GM




!BQ>=:LL>ML



'>:L>EB:;BEBMR



/:QEHLL<:KKR?HKP:K=L



>?>KK>=K>O>GN>




+NK=M>K



/HM:E=>?>KK>=M:Q:LL>ML




'>LLO:EN:MBHG:EEHP:G<>

	 
	
)>M=>?>KK>=M:Q:LL>ML




$G=>?BGBM>EBO>=BGM:G@B;E>L

	 
	
-B@AM
H?
NL>:LL>ML

	 
	
0GK>FBMM>=>:KGBG@LH??HK>B@GLN;LB=B:KB>L
Z

	
>?>KK>=M:Q>LHG?HK>B@G>:KGBG@L

	 
	
/HM:E=>?>KK>=M:QEB:;BEBMB>L

	 
	
)>M=>?>KK>=M:Q:LL>ML




NMH=>LDK>@NE:KER:LL>LL>LMA>G>>=?HK:O:EN:MBHG:EEHP:G<>:@:BGLMBML=>?>KK>=M:Q:LL>ML$GF:DBG@MA:M:LL>LLF>GM
NMH=>LD>O:EN:M>LPA>MA>KBMBLFHK>EBD>ERMA:GGHMMA:MLHF>HK:EEH?MA>=>?>KK>=M:Q:LL>MLPBEEGHM;>K>:EBS>=;:L>=HG:EE
:O:BE:;E>IHLBMBO>:G=G>@:MBO>>OB=>G<>
/A>HFI:GRLMHK>M:BG:O:EN:MBHG:EEHP:G<>:@:BGLM+HKMN@:E)>P5>:E:G=:EB?HKGB:(:LL:MML:G=
(B?>KK>=M:Q:LL>ML:G==>?>KK>=M:Q:LL>MLMA:MPBEEKMBGMH:<:IBM:EEHLLNIHGK>O>KL:EBGNLMK:EB::G=0.:L
P>=HGHMA:O>LN??BGMBGH?MA>:IIKHIKB:M>KMH;>G>?BMMA>L>=>?>KK>=M:Q:LL>ML2>K>E>:L>=HNK:G:=:
O:EN:MBHG:EEHP:G<>BG?BL<:E=N>MHIHLBMBO>>OB=>G<>LNIIHKMBG@MA>NMBEBS:MBHGH?MA>-=BML;>?HK>MA>R>QIBK>
K>LNEMBG@BG:FBEEBHGGHG
<:LA;>G>?BMMH>:KGBG@L/A>HFI:GR>LM:;EBLA>=:O:EN:MBHG:EEHP:G<>BG(:LL:MMLBG
?BL<:EHGMA>;:LBLMA:MBMBLFHK>EBD>ERMA:GGHMMA:MLHF>HK:EEH?MA>=>?>KK>=M:Q:LL>MLPBEEGHM;>K>:EBS>=/A>BFI:LM:;EBLAF>GMP:LH??L>M;R:=>:L>BGMA>O:EN:MBHG:EEHP:G<>BGMA>)>MA>KE:G=L=N>MHMA>>EBFBG:MBHGH?MA>
=>?>KK>=M:Q:LL>MLBGMA:MCNKBL=BO:EN:MBHG:EEHP:G<>=>:L>=;RFBEEBHGBG?BL<:EIKBF:KBER=N>MHNMBEBS:MBHGH?=>?>KK>=M:Q:MMKB;NM>L/A>
O:EN:MBHG:EEHP:G<>=>:L>=;RFBEEBHGBG?BL<:EIKBF:KBER=N>MHMA>K>E>:L>H?MA>:G:=:O:EN:MBHG:EEHP:G<>H?
FBEEBHG
/A>E>=MHK>:GRIHM>GMB:E"$'/$H;EB@:MBHGL:L:G>QI>GL>BGMA>I>KBH=BMBLBG=
LH?%:GN:KRNMH=>LDA:=FBEEBHGH?0.?>=>K:EM:QEHLL<:KKR?HKP:K=L:G=FBEEBHGH?
0.LM:M>M:QEHLL<:KKR?HKP:K=LPAB:O:BE:;E>MHK>=N<>?NMNK>BGM:QEB:;BEBMB>LBG?>=>K:E:G=LM:M>
CNKBL=BIK>
?BL<:E0.?>=>K:EM:QEHLL<:KKR?HKP:K=PBEE>QIBK>;>@BGGBG@?BL<:EMAKHN@A?BL<:E0.
?>=>K:EEHLL>L@>G>K:M>=;>@BGGBG@BG?BL<:E=HGHM>QIBK>:G=:K><:KKB>=?HKP:K=BG=>?BGBM>ER/A>0.LM:M>M:QEHLL
<:KKR?HKP:K=PBEE>QIBK>;>@BGGBG@?BL<:EMAKHN@A?BL<:E$G:==BMBHGMH0.?>=>K:E:G=LM:M>M:QEHLL<:KKR?HKP:K=L
+HKMN@:E)HKP:R)>P5>:E:G=:G=HMA>K?HK>B@GCNKBL=B=M:QEHLL>LMHM:EBG@FBEEBHGPAB:O:BE:;E>
MHK>=N<>?NMNK>BGM:QEB:;BEBMB>L*NK+HKMN@:E)HKP:R:G=)>P5>:E:G=EHLL>LH?FBEEBHGFBEEBHG:G=FBEEBHG


K>LI>ERA:O>:GBG=>?BGBM>>QIBK:MBHGI>KBH=+HKMN@:E:G=)>P5>:E:G=EHLL>LA:O>:?NEEO:EN:MBHG:EEHP:G<>:@:BGLM
MA>FHGHNK;:E:G<>LA>>M:LMA>HFI:GRA:L=>M>KFBG>=BMBLFHK>EBD>ERMA:GGHMMA:MMA>L>EHLL>LPBEEGHM;>NMBEBS>=
LH?%:GN:KRNMH=>LDA:=FBEEBHGH?:EB?HKGB:LM:M>K>L>:K=BM<:KKR?HKP:K=L
FBEEBHGH?(:LL:MMLLM:M>K>L>:K=BM<:KKR?HKP:K=L:G=FBEEBHGH?:G:=B:G?>=>K:E
K>L>:K:O:BE:;E>MHK>=N<>?NMNK>BGM:QEB:;BEBMB>LBGMA>K>LI>CNKBL=BLM:M>K>L>:K=BM<:KKR?HKP:K=LBG:EB?HKGB::G=(:LL:MMLF:RK>=N<>?NMNK>:EB?HKGB::G=(:LL:MMLBGM:QEB:;BEBMB>L
BG=>?BGBM>ERBGMAHL>K>LI>LM:M>L:G=MA>:G:=B:GK>L>:K=BM<:KKR?HKP:K=LPBEE>QIBK>;>@BGGBG@?BL<:E
MAKHN@A?BL<:ENMH=>LD:ELHA:LFBEEBHGH?0.?>=>K:E?HK>B@GM:Q=BM<:KKR?HKP:K=LPAB
:O:BE:;E>MHK>=N<>?NMNK>0.M:QEB:;BEBMB>L/A>L>?HK>B@GM:Q=BMLPBEE>QIBK>;>@BGGBG@?BL<:EMAKHN@A?BL<:EL
=BL=:;HO>MA>:EB?HKGB::G=(:LL:MML:LL>MLA:O>?NEEO:EN:MBHG:EEHP:G<>:@:BGLMMA>FHGHNK;:E:G<>
LA>>M:LMA>HFI:GRA:L=>M>KFBG>=BMBLFHK>EBD>ERMA:GGHMMA:MMA>L>EHLL>L:G==BMLPBEEGHM;>NMBEBS>=
0MBEBS:MBHGH?G>MHI>K:MBG@EHLL>L:G=M:Q=BMLF:R;>LN;C>MHHPG>KLABI
EBFBM:MBHGLIKHOB=>=BGMA>$GM>KG:E->O>GN>H=>:G=LBFBE:KLM:M>IKHOBLBHGL/ABL:GGN:EEBFBM:MBHGF:RK>LNEMBGMA>
>QIBK:MBHGH?G>MHI>K:MBG@EHLL>L:G==BML;>?HK>NMBEBS:MBHG)HHPG>KLABIA:LH<=MAKHN@AMA>;:E:G<>LA>>M
=:M>MA:MPHNE=K>LNEMBGI>KF:G>GMEHLL>LH?MA>0.?>=>K:E:G=LM:M>M:Q:MMKB;NM>L
LH?%:GN:KRMA>HFI:GRA:=FBEEBHGH?@KHLLNGK>=M:Q;>G>?BMLH?PAB=N<>HNKO:EN:MBHG:EEHP:G<>B?K>=/A>K>F:BGBG@FBEEBHGPHNE=BFI:>??>M:QK:M>/A>:FHNGMH?
NGK>=M:Q;>G>?BMLPBEE=>:L>BGMA>G>QMMP>EO>FHGMAL?HKLM:MNM>E:IL>BLGBE
K>;>@BGGBG@:G=>G=BG@:FHNGMH?MA>@KHLLNGK>=M:Q;>G>?BMLBL:L?HEEHPL
>H86A1:6GC9:9"6CJ6GN




"KHLLNGK>=M:Q;>G>?BML:MMA>;>@BGGBG@H?MA>?BL<:ER>:K	






$G:L>L?HKM:QIHLBMBHGLH?IKBHKR>:KL	





>:L>L?HKM:QIHLBMBHGLH?IKBHKR>:KL	

	 
	 
Z
$G:L>L?HKM:QIHLBMBHGLK>E:M>=MHMA>GMR>:K	





>:L>LK>E:MBG@MHL>MME>F>GMLPBMAM:QBG@:NMAHKBMB>L
Z

	 
Z
->=NLNEMH?E:IL>H?MA>LM:MNM>H?EBFBM:MBHGL
	 
	 
Z
"KHLLNGK>=M:Q;>G>?BML:MMA>>G=H?MA>?BL<:ER>:K






888888888888888
	
NKBG@MA>R>:K>G=>=%:GN:KRMA>HFI:GR=BMLIK>L>GM:MBHGMHK>FHO>E:MBO>;>G>?BMLK>E:M>=MH<>KM:BG
MK:GL?>KIKBKL/A>:;HO>L?HK?BL<:E:G=A:O>;>>G=MHGMI>KBH=
IK>L>GM:MBHG/A>>??>HGMA>>G=BG@@KHLLNGK>=M:Q;>G>?BMLP:LFBEEBHGBG?BL<:E:G=FBEEBHGBG
?BL<:E
$MBLMA>HFI:GR^LMHK>BGM>K>LM:G=HKI>G:EMB>LK>E:M>=MHBGM:QF:MM>KLBGBG
M:Q>QI>GL>NMH=>LDA:=FBEEBHGFBEEBHG:G=FBEEBHGG>MH?M:Q;>G>?BM:<=?HKBGM>K>LM:G=I>G:EMB>LK>E:M>=MH
NGK>=M:Q;>G>?BML:LH?%:GN:KR:G=K>LI>ER/A>K>P:LFBEEBHG	FBEEBHG:G=
FBEEBHGH?G>M>QI>GL>?HKBGM>K>LM:G=I>G:EMB>LK>E:M>=MHM:QF:MM>KLK>=MAKHN@AMA>=LM:M>F>GMLH?
HI>K:MBHGL?HKMA>R>:KL>G=>=%:GN:KR:G=K>LI>ER
NMH=>LD^L0.:G=LM:M>BGM:QK>MNKGL?HK?BL<:EMAKHN@A?BL<:EK>F:BGHI>GMH>Q:FBG:MBHG=N>MH
>BMA>KG>MHI>K:MBG@EHLLHK=BM<:KKR?HKP:K=/A>$GM>KG:E->O>GN>.>KOB<>GHMB?B>=MA>HFI:GRH?>Q:FBG:MBHGH?MA>
HFI:GR^L=?>=>K:EBGM:QK>MNKGL?HK?BL<:E:G=/ABL:N=BMG<>=BG!>;KN:KR:G=
K>F:BGLBGIKH@K>LL
NMH=>LD?BE>LM:QK>MNKGLBGFNEMBIE>?HK>B@GM:QBG@CNKBL=BGM:QR>:KLK:G@BG@?KHF?BL<:EMH




8FJ>H>I>DCH
5?/-8
/=A5?5@5;:?
/A>K>LNEMLH?HI>K:MBHGL?HKMA>?HEEHPBG@:BG=BGMA>:<=.M:M>F>GMLH?
*I>K:MBHGLLBG<>MA>BKK>LI>:L+KH?HKF:K>LNEMLH?HI>K:MBHGLA:O>GHM;>>GIK>L>GM>=;><:NL>MA>>??>L>:K>GHMF:M>KB:EMHNMH=>LD^LHGLHEB=:M>=!BG:GF>GML
NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRNMH=>LDM>=MAK>>;NLBG>LL:?:BK
O:EN>H?MA>K:MBHGMK:GL?>KK>=MHM:E>=FBEEBHGBG<:LA*?MA>MHM:EK:MBHGMK:GL?>KK>=FBEEBHGBL
K>=INKK:MBHG
%A>/4-?1%>5/188;/-@5;:
/A>:K>:<=?HK:L;NLBG>LLLDK>=MA>M:G@B;E>:G=
BGM:G@B;E>:LL>ML:=:G=EB:;BEBMB>L:LLNF>=;:L>=HGMA>BK>LMBF:M>=?:BKO:EN>L:MMA>=:M>H?>:LI>:?:BKO:EN>L:LLB@G>=MHMA>B=>GMB?B:;E>BGM:G@B;E>:LL>ML:=P>K>;:L>=HG>LMBF:M>L:G=:LLNFIMBHGL=>M>KFBG>=;R
F:G:@>F>GMNMH=>LDK>=MA>>Q<>LLH?K:MBHGMK:GL?>KK>=HO>KMA>:@@K>@:M>?:BKO:EN>L:L@HH=PBEE/A>
@HH=PBEEK>=P:LIKBF:KBER:MMKB;NM:;E>MHLRG>K@B>L>QI>=MH:KBL>:?M>KMA>:=N?HK0.BGM:QINKIHL>L/A>MK:GL:E:M>=MHMA>:K>GHMF:M>KB:E
/A>?HEEHPBG@M:;E>LNFF:KBS>LMA>?:BKO:EN>H?MA>:LL>ML:=:G=EB:;BEBMB>L:LLNF>=;RF:CHK
;NLBG>LLK>M>==NKBG@MA>?BL<:ER>:K>G=>=%:GN:KR
Aggregated Total
>O>EHI>=M>L


NLMHF>KK>E:MBHGLABIL

"HH=PBEE

>?>KK>=K>O>GN>:G=EHG@
M>KF=>?>KK>=K>O>GN>
	
'HG@
M>KF=>?>KK>=BGM:Q>L
	
)>MM:G@B;E>:LL>ML

/HM:E


!HKMA>;NLBG>LL:EEH<:MBHGH?INKIKB<>K:MBHGMH<>KM:BG:LL>ML:G=EB:;BEBMB>L:LP>EE:LMA>
?BG:E:FHNGMH?INKK:MBHG:K>GHMR>M?BG:EBS>=!HKMA>BM>FLGHMR>M?BG:EBS>=NMH=>LDL>LMBF:M>L:G=
:LLNFIMBHGL:K>LN;C>PBMABGMA>F>:LNK>F>GMI>KBH=NIMHHG>R>:K?KHFMA>:	/A>IKBF:KR:K>:L
H?MA>IK>EBFBG:KRINKIKB<>:EEH<:MBHGMA:M:K>GHMR>M?BG:EBS>=:K>:FHNGML?HKM:Q:LL>ML:G=EB:;BEBMB>L:G=K>LB=N:E
@HH=PBEE
5?/-8

/=A5?5@5;:?
NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRNMH=>LDM>=MPH;NLBG>LL:?:BK
O:EN>H?MA>K:MBHGMK:GL?>KK>=MHM:E>=FBEEBHGPAB=H?FBEEBHGH?<:LAMAHNL:G=LA:K>LH?
NMH=>LD^LK>LMKB=@:M>?:BKO:EN>H?FBEEBHG:G=NMH=>LDBLLN>=:?BQ>=:FHNGMH?
FBEEBHGBG=:M>LMH<>KM:BG>FIEHR>>L*?MA>MHM:EK:MBHGMK:GL?>KK>=FBEEBHGP:L
K>=INKK:MBHG*?MA>K>F:BGBG@:FHNGMFBEEBHGP:LK>=BG[+K>I:B=>QI>GL>L:G=HMA>KGM
:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\HGHNKHGLHEB=:M>=:E:G<>.A>>ML:G=PBEE;>:FHKMBS>=MHLMH=GL:MBHG
>QI>GL>NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=FBEEBHGP:L:<=?HK:LEB:;BEBMR
=:P:K=L:G=
PBEE;>K>=:LGL:MBHG>QI>GL>NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=:G=FBEEBHGP:LK>=
:LLMH=GL:MBHG>QI>GL>HGMA>=:M>H?:MAHNL:G=LA:K>LH?K>LMKB=LN;C>BMNK>NGMBEMA>L>KL:KRH?MA>:/A>LA:K>L:K>K>E>:L>=HGMA>?BKLM:G=L>KL:KB>L:G=K>LI>ERLN;C>=>FIEHRF>GM$LLN:G<>H?MA>FBEEBHG?BQ>=O:EN>BGI>G=LHGMA>K>LI>>FIEHR>>L^=>FIEHRF>GM:G=O>LML:G=HGMA>?BKLM:G=L>KL:KB>LH?MA>K>LI>ER


/A>K>LNEMLH?HI>K:MBHGL?HK?BL<:E:K>BG=BGMA>:<=.M:M>F>GMH?
*I>K:MBHGL?KHFMA>=:M>LH?MA>K>LI>:=N?HK0.BGM:QINKIHL>L
5?/-8
/=A5?5@5;:?
*LD:=H?MA>HNMLM:G=BG@LMH=IKHOB=>K
H?IKH=NF:G:@>F>GM:G=IKH=NF>GMLRLM>FL?HK:IIKHQBF:M>ERFBEEBHGBG<:LA:G=NMH=>LD
BLLN>=:?BQ>=:FHNGMH?FBEEBHGBG?BKLM:G=L>KL:KB>LH?MA>MH<>KM:BG
>FIEHR>>LBG:K:MBHGH?FBEEBHG*?MA>MHM:EK:MBHGMK:GL?>KK>=
FBEEBHGP:LK>=INKK:MBHG*?MA>K>F:BGBG@:FHNGMFBEEBHGP:L:<=?HK:LEB:;BEBMR
=:P:K=L:G=K>=:LGL:MBHG>QI>GL>NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=:G=
FBEEBHGP:LK>=:LLMH=GL:MBHG>QI>GL>=NKBG@MA>?BL<:ER>:K>G=>=%:GN:KR
NMH=>LDBGM>@K:M>=0I=LDLHENMBHGLMH<>GMK:EBS>=:M:F:G:@>F>GM:G=IKH<>LL
F:G:@>F>GM
::;BEF1
*G(:KLD:=:EEH?MA>HNMLM:G=BG@LMH=MA>I:K>GMH?$GGHORS>
$G<[$GGHORS>\	:@EH;:EE>:=>KBGP:M>KBG?K:LMKNLH?MP:K>$GGHORS>IKHOB=>LA>GLBO>P:M>KFH=>EBG@LHENMBHGL
MA:M:N@F>GMNMH=>LD^L$(H??>KBG@LBGG@BG>>KBG@:G=>QM>G=LNMH=>LD^LIK>L>G<>BGMHHI>K:MBHGL:G=F:BGM>G:G<>
H?P:M>KBG?K:LMKN:LL>ML
/A>:?:BKO:EN>H?MA>K:MBHGMK:GL?>KK>=MHM:E>=FBEEBHGPAB=H?FBEEBHG
H?<:LA:G=MAHNL:G=LA:K>LH?NMH=>LD^LK>LMKB=@:M>?:BKO:EN>H?FBEEBHG*?MA>MHM:E
K:MBHGMK:GL?>KK>=FBEEBHGP:LK>=INKK:MBHG/A>K>F:BGBG@:FHNGMH?FBEEBHGP:L
K>=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\
$@41>/=A5?5@5;:?
NKBG@MA>?BL<:ER>:K>G=>=%:GN:KRNMH=>LDM>=?HNK:==BMBHG:E;NLBG>LL
:?:BKO:EN>H?MA>K:MBHGMK:GL?>KK>=MHM:E>=FBEEBHGPAB=H?FBEEBHGH?<:LA:?BQ>=
:FHNGMH?FBEEBHGBGBLLN>=:M?NMNK>=:M>LMH<>KM:BG>FIEHR>>LBG:LH?NMH=>LD^LK>LMKB=@:M>?:BKO:EN>H?FBEEBHG*?MA>MHM:EK:MBHG
MK:GL?>KK>=FBEEBHGP:LK>=INKK:MBHG/A>K>F:BGBG@:FHNGMLH?FBEEBHGP:LK>=BG
[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\:G=FBEEBHGBL:<=?HK:LEB:;BEBMR
=
:P:K=L:G=K>=:LGL:MBHG>QI>GL>NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=$LLN:G<>H?MA>
I>G=>GMHGMA>K>LI>>FIEHR>>L^=>FIEHRF>GMMAKHN@AMA>O>LMBG@I>KBH=
/A>K>LNEMLH?HI>K:MBHGL?HK0I:G=MA>HMA>K:K>BG=BGMA>:<=.M:M>F>GMH?*I>K:MBHGL?KHFMA>=:M>LH?MA>K>LI>:=N?HK0.BGM:QINKIHL>L?HK0I:G=MA>HMA>K:LI>ER

:;:GG:9DBE:CH6I>DC
M%:GN:KRNMH=>LDA:=BGO>LMF>GMLBG=>;M:G=>JNBMRL>LMA:M:K>A>E=BG:K:;;BMKNLMNG=>KGHG
JN:EB?B>==>?>KK>=GL:MBHGIE:GL:G=:LIHG=BG@=>?>KK>=GL:MBHGEB:;BEBMRMHM:EBG@FBEEBHG*?MABL
:FHNGMFBEEBHGP:L=:LGM:G=FBEEBHGP:L=:LGHG
GMBGMA>HGLHEB=:M>=:E:G<>.A>>M
*?MA>FBEEBHGK>E:M>=MHBGO>LMF>GML:G==>?>KK>=GL:MBHGEB:;BEBMRBG:K:;;BMKNLM:LH?%:GN:KRFBEEBHG
P:L=:LGM:G=FBEEBHGP:L=:LGHG
GM/A>GM:G=GHG
GM:LL>MIHKMBHGLH?MA>
BGO>LMF>GMLBG=>;M:G=>JNBMRL>LMA:M:K>A>E=BG:K:;;BMKNLMNG=>KGHG
JN:EB?B>==>?>KK>=GL:MBHGIE:GL:K>
K>=BGMA>HGLHEB=:M>=:E:G<>.A>>MLNG=>K[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\
K>LI>ER/A>GM:G=GHG
GMIHKMBHGLH?MA>=>?>KK>=GL:MBHGEB:;BEBMR:K>K>=BGMA>HGLHEB=:M>=
:E:G<>.A>>MLNG=>K[<=GL:MBHG\:G=['HG@
M>KFHMA>KEB:;BEBMB>L\K>LI>ER


;?@?@;;.@-5:-/;:@>-/@C5@4-/A?@;91>
.:E>L:KG>=;RHNKBGM>KG:EL:E>LI>KLHGG>E:G=HNKLHENMBHGIKHOB=>KL:K>K>=BGF>GM:E:G=
K>K:;E>K/A>>G=BG@;:E:G<>H?:LL>MLK>=?KHFKP:LFBEEBHG:G=FBEEBHG:LH?%:GN:KR:G=%:GN:KRK>LI>ER/A>L>
:LL>ML:K>K>=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\BGMA>HGLHEB=:M>=:E:G<>
.A>>MFHKMBS:MBHG>QI>GL>K>E:M>=MH:LL>MLK>=?KHFKP:LFBEEBHG
FBEEBHG:G=FBEEBHG=NKBG@?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ERNMH=>LD=B=GHM
K>:GRGMEHLL>L=NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KRHK

DGGDL>C<GG6C<:B:CIH
$G)HO>F;>KMA>HFI:GR>GM>K>=BGMH:GF>G=>=:G=->LM:M>=K>=BM@K>>F>GMMA>[K>=BM@K>>F>GM\	;R
:G=:FHG@MA>HFI:GRMA>E>G=>KLI:KMRMA>K>MH:G=BMB;:GD)[BMB;:GD\	:L:=FBGBLMK:MBO>:@>GMPABL?HK
:GNGL>=K>OHEOBG@EH:G?::@@K>@:M>IKBGBG:L>=NIMH
;BEEBHG/A>K>OHEOBG@=BM?:?HKPHKDBG@<:IBM:EHKHMA>K;NLBG>LLG>>=L/A>K>=BM@K>>F>GMG:GMLMA:MKMABG@LK>LMKBBFIHLBMBHGH?EB>GLHGNMH=>LD^L:LL>ML:G=K>LMKBLD^L:;BEBMRMHBG;M>=G>LLHKF:D>=BLIHLBMBHGLH?:LL>MLB?NMH=>LD?:BELMHF:BGM:BGPBMA
MA>?BG:GG:GML/A>K>=BM@K>>F>GMK>JNBK>LMA>HFI:GRMHF:BGM:BG:F:QBFNFE>O>K:@>K:MBHH?HGLHEB=:M>=
HO>G:GM>;MMHHGLHEB=:M>= $/>:?BG>=BGMA>K>=BM@K>>F>GM	GH@K>:M>KMA:G=NKBG@MA>M>KFH?
MA>=BM?:GM?HEEHPBG@MA>KM:BG:?BL<:EJN:KM>KL+>KMA>K>=BM@K>>F>GMNMH=>LDBLK>JNBK>=MHBLLN>:GGN:E:N=BM>==?BG:GF>GMLPBMABG=:RL:?M>KMA>>G=H?NMH=>LD^L?BL<:ER>:K*GIKBENMH=>LDH;M:BG>=E>G=>KGMMH
>QM>G=MA>I>KBH=MHIKHOB=>:GGN:E:N=BM>==?BG:GF>GMLMH%NG>M%:GN:KRNMH=>LD
P:LBGPBMA:EEHMA>KK>=BM@K>>F>GMG:GML->OHEOBG@EH:GLNG=>KMA>K>=BM@K>>F>GMPBEE;>:KBGM>K>LM
:MMA>HFI:GR^LHIMBHG:M>BMA>KB	:I>K:GGNFK:M>>JN:EMHMA>:L>-:M>:L=>?BG>=BGMA>K>=BM@K>>F>GM	IENL:
F:K@BGH?;>MP>>G:G==>I>G=BG@HGMA>HFI:GR^L+N;EB<>;M-:MBG@:L=>?BG>=BGMA>K>=BM@K>>F>GM	
HKBB	:I>K:GGNFK:M>>JN:EMHMA>K:M>:MPABIHLBML:K>H??>K>=BGMA>.>=*O>KGB@AM!BG:GIENL:
F:K@BGH?;>MP>>G:G==>I>G=BG@HGHFI:GR^L+N;EB<>;M-:MBG@/A>BGM>K>LMK:M>L?HKMA>K>OHEOBG@
=BM?:LN;C>GMLHG:G:GGN:E;:LBLB?MA>HFI:GR:O>LHK?:BELMH:O>
<>KM:BGLNLM:BG:;BEBMR
EBGD>=M:K@>ML;:L>=HGMPHD>RI>K?HKF:G<>BG=B<:MHKF>MKB:FHNGMH?L:G=
@K>>GAHNL>@:L>FBLLBHGL?KHFMA>@EH;:EHI>K:MBHGLH?MA>HFI:GR:G=BMLLN;LB=B:KB>L=NKBG@:?BL<:ER>:KE>LLJN:EB?B>=
>FBLLBHGLK>=NGML:G=BB	MA>I>K<>GM:@>H?>FIEHR>>LH?MA>HFI:GR:G=BMLLN;LB=B:KB>LB=>GMB?RBG@:L?>F:E>
PHKDBG@BGM>L/A>F:MNKBMR=:M>HGMA>K>=BM@K>>F>GMBL.>IM>F;>KM%:GN:KRNMH=>LD
A:=GHHNMLM:G=BG@;HKKHPBG@LNG=>KMA>K>=BM@K>>F>GM
$G*KNMH=>LDBLLN>=;BEEBHG:@@K>@:M>IKBGL=N>><>F;>K[
)HM>L\	)>MH?:=BLLDK><>BO>=G>MIKH<>>=LH?FBEEBHG?KHF
BLLN:G<>H?MA>)HM>LHMAMA>=BL;>BG@:FHKMBS>=MHBGM>K>LM>QI>GL>HO>KMA>M>KFH?MA>
)HM>LNLBG@MA>>??>BGM>K>LMF>MAH=/A>)HM>LP>K>=>LB@G:M>=:LLNLM:BG:;BEBMR;HG=LMA>G>MIKH<>>=LH?
PABNL>=MH?NG=>GOBKHGF>GM:EER:G=LHLIHGLB;E>IKHC>?HEEHPBG@:K>:L>??BGMIKH=NL:G=IKH<>LL>LLNLM:BG:;E>P:M>K:G=P:LM>P:M>KF:G:@>F>GMK>G>P:;E>>G>K@R>G>K@R>??BG>G;NBE=BG@LIHEENMBHGIK>O>GMBHG:G=F>GM:G=>FIHP>KF>GM
$G%:GN:KRNMH=>LDBLLN>=FBEEBHG:@@K>@:M>IKBGL=N>%:GN:KR[
)HM>L\	)>MH?:=BLLDK><>BO>=G>MIKH<>>=LH?FBEEBHG?KHF
BLLN:G<>H?MA>)HM>LHMAMA>=BL;>BG@:FHKMBS>=MHBGM>K>LM>QI>GL>HO>KMA>M>KFH?MA>
)HM>LNLBG@MA>>??>BGM>K>LMF>MAH=/A>IKH<>>=LH?MA>)HM>LP>K>NL>=?HKMA>K>I:RF>GMH?FBEEBHGH?
=>;M=N>%NG>:G=MA>K>F:BG=>KBL:O:BE:;E>?HK@>G>K:EINKIHL>L
$G%NG>NMH=>LDBLLN>=FBEEBHG:@@K>@:M>IKBGL=N>%NG>MA>[
)HM>L\	)>MH?:=BLLDK><>BO>=G>MIKH<>>=LH?FBEEBHG?KHF
BLLN:G<>H?MA>)HM>LHMAMA>=BL;>BG@:FHKMBS>=MHBGM>K>LM>QI>GL>HO>KMA>M>KFH?MA>
)HM>LNLBG@MA>>??>BGM>K>LMF>MAH=/A>IKH<>>=LH?MA>)HM>LA:O>;>>GNL>=?HKMA>K>I:RF>GMH?
FBEEBHGH?=>;M=N>><>F;>K:G=MA>K>F:BG=>KBL:O:BE:;E>?HK@>G>K:EINKIHL>L


$G%NG>NMH=>LDBLLN>=FBEEBHG:@@K>@:M>IKBGL=N>%NG>[
)HM>L\	)>MH?:=BLLDK><>BO>=G>MIKH<>>=LH?FBEEBHG?KHF
BLLN:G<>H?MA>)HM>LHMAMA>=BL;>BG@:FHKMBS>=MHBGM>K>LM>QI>GL>HO>KMA>K>LI>
M>KFLH?MA>)HM>LNLBG@MA>>??>BGM>K>LMF>MAH=/A>IKH<>>=LH?MA>)HM>L:K>:O:BE:;E>?HK@>G>K:E
INKIHL>L
/A>)HM>L)HM>L)HM>L:G=MA>)HM>LF:R:EE;>K>=>>F>=:M:GRMBF>LN;C>PAHE>
IK>FBNF$G:==BMBHGNIHGMA>H<G<>H?<>KM:BGH?KBG@>O>GMLNMH=>LDF:R;>K>JNBK>=MH
K>INK:EEMA>)HM>L:M:IKB<>>JN:EMHH?MA>BKIKBG=:G=NGI:B=BGM>K>LMMHMA>=:M>H?
K>INKEE)HM>LLMKBG:GMLMA:MEBFBMNMH=>LD^L:;BEBMRMH:M><>KM:BGEB>GLMH>GM>KBGMH<>KM:BGL:E>
:G=E>:L>;:HKF>K@>PBMAHKRMK:GL?>KHKE>:L>:EEHKLN;LM:GMB:EER:EEH?BML:LL>ML
LN;C>Q<>IMBHGL
:L>=HGMA>JNHM>=F:KD>MIKB<>LMA>:IIKHQBF:M>?:BKO:EN>H?MA>GHM>L:LH?%:GN:KRP>K>:L?HEEHPL
<C8>E6A
BDJCI
6>GK6AJ:
)HM>L




)HM>L



)HM>L



)HM>L



/A>>QI>=?NMNK>IKBGGML?HK:EE;HKKHPBG@L:LH?%:GN:KRP>K>:L?HEEHPL
!BL<:ER>:K>G=BG@


Z



Z



Z
/A>K>:?M>K

/HM:EIKBGLDA:LHI>K:MBG@E>:L>L?HKK>:E>LM:M>O>ABL:G=<>KM:BG>JNBIF>GM'>:L>LA:O>K>F:BGBG@E>:L>M>KFLH?E>LL
MA:GR>:KMHR>:KLLHF>H?PABHIMBHGLMH>QM>G=MA>E>:L>PBMAK>G>P:EM>KFL?KHFR>:KMHR>:KL :G=LHF>
H?PABHIMBHGLMHM>KFBG:M>MA>E>:L>L?KHFE>LLMA:GR>:KMHR>:KL*IMBHGLMH>QM>G=MA>E>:L>:K>BG=BGMA>
E>:L>EB:;BEBMRB?MA>R:K>K>:LHG:;ER<>KM:BGH?;>BG@>Q>K=*IMBHGLMHM>KFBG:M>:K>K>=BG=>M>KFBGBG@MA>E>:L>
EB:;BEBMRB?MA>R:K>K>:LHG:;ER<>KM:BGH?;>BG@>Q>K=+:RF>GMLNG=>KHNKE>:L>:KK:G@>F>GML:K>IKBF:KBER?BQ>=AHP>O>K
<>KM:BGE>:L>:@K>>F>GMLI:RF>GMLPAB>QI>GL>=:LBG=:G=GHMBG=BGMA>HI>K:MBG@E>:L>
:LL>ML:G=EB:;BEBMB>L/A>L>:FHNGMLBGI:RF>GML:??>=;RMA>HGLNF>K+KB<>$G=>QI:RF>GML?HK:
F:BGM>G:G<>MA:M:K>LN;C>GML?HKF:BGM>G:G<>:G=NMBEBMB>L/A>HFI:GR^LE>:L>L=HGHM
LB=N:EO:EN>@N:K:GM>>LHKF:M>KB:EK>LMKBG:GML.AHKM
M>KFE>:L>L:K>K>=BGMA>HGLHEB=:M>=
.M:M>F>GMH?*I>K:MBHGLHG:LMK:B@AM
EBG>;:LBLHO>KMA>E>:L>M>KF.AHKM
M>KFE>:L>>QI>GL>P:LGHMF:M>KB:E?HKMA>I>KBH=L
IK>L>GM>=A:G@>LBGHI>K:MBG@E>:L>KB@AM
H?
NL>:LL>ML:G=HI>K:MBG@E>:L>EB:;BEBMB>L:K>IK>L>GM>=G>MBGMA>[:<:G=HMA>KEB:;BEBMB>L\EBG>BGMA>HGLHEB=:M>=.M:M>F>GMLH?:LA!EHPLPBMAMA>>Q<>IMBHGH?['>:L>
K>E:M>=:LL>M
BFI:BKF>GML\PABL>GM>=BG[=CNLMF>GMLMHK>G>MBGMHG>M<:LAIKHOB=>=;RHI>K:MBG@:L\
NKBG@MA>?BL<:ER>:KL>G=>=%:GN:KR:G=NMH=>LDK>=MHM:EHI>K:MBG@E>:L>KB@AM
H?
NL>
:LL>MLBFI:BKF>GMLH?FBEEBHGFBEEBHG:G=FBEEBHGK>LI>ERNMH=>LD:LL>LL>=MA>:LL>M@KHNIBG@L?HK
=BL:@@K>@:MBHG;:L>=HGMA>IKHIHL>=LBGNL>H?MA>?:L!HK:LL>M@KHNILPA>K>BFI:BKF>GMP:LMKB@@>K>=
NMH=>LDNMBEBS>=:GBG:IIKH:MA>:LL>M@KHNIL;R=>O>EHIBG@=BL=<:LA?EHPFH=>EL/A>LB@GB?B<:GM
:LLNFIMBHGLNL>=BGMA>=BL=<:LA?EHPFH=>EL?HK>::LL>M@KHNILBG=IKHC>=LN;E>:L>BGHO>KMA>
K>F:BGBG@E>:L>M>KFL>QI>==HPGMBF>IKBHKMHMA>G<>F>GMH??NMNK>LN;E>:L>L>QI>=E>:L>BG<>GMBO>LH??>K>=MH


?NMNK>M>G:GML:G==BLLMA:MK>?E>=MA>E>O>EH?KBLD:LLH=PBMAMA>L>?NMNK><:LA?EHPL/A>L>LB@GB?B<:GM
:LLNFIMBHGL:K>K>='>O>E:G='>O>EBGINMLBG:<PBMAMA>?:BKO:EN>AB>K:KL=BG)HM>
[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\/A>HI>K:MBG@E>:L>KB@AM
H?
NL>:LL>ML:G=HMA>KE>:L>
K>E:M>=
:LL>MLL:K>BG=BG[@>G>K:E:G=:=FBGBLMK:MBO>\BGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL
/A>GMLH?E>:L>K>:L?HEEHPL
>H86A1:6GC9:9"6CJ6GN

DHID;
HJ7H8G>EI>DC6C9
B6>CI:C6C8:
G:K:CJ:
DHID;DI=:G
G:K:CJ:
%6G@:I>C<
6C9H6A:H
*:H:6G8=6C9
9:K:ADEB:CI
:C:G6A6C9
69B>C>HIG6I>K:
,DI6A
*I>K:MBG@E>:L>E>:L>H86A1:6GC9:9"6CJ6GN

DHID;
HJ7H8G>EI>DC6C9
B6>CI:C6C8:
G:K:CJ:
DHID;DI=:G
G:K:CJ:
%6G@:I>C<
6C9H6A:H
*:H:6G8=6C9
9:K:ADEB:CI
:C:G6A6C9
69B>C>HIG6I>K:
,DI6A
*I>K:MBG@E>:L>E>:L>H86A1:6GC9:9"6CJ6GN

DHID;
HJ7H8G>EI>DC6C9
B6>CI:C6C8:
G:K:CJ:
DHID;DI=:G
G:K:CJ:
%6G@:I>C<
6C9H6A:H
*:H:6G8=6C9
9:K:ADEB:CI
:C:G6A6C9
69B>C>HIG6I>K:
,DI6A
*I>K:MBG@E>:L>E>:L>F>GM:EHI>K:MBG@<:LA?EHPBG?HKF:MBHGK>E:M>=MHE>:L>LP:L:L?HEEHPL
>H86A1:6G
C9:9"6CJ6GN


>H86A1:6G
C9:9"6CJ6GN


>H86A1:6G
C9:9"6CJ6GN


:LAI:B=?HKHI>K:MBG@E>:L>LBG=BGHI>K:MBG@<:LA?EHPL	






)HG
<:LAHI>K:MBG@E>:L>EB:;BEBMB>L:KBLBG@?KHFH;M:BGBG@HI>K:MBG@KB@AM
H?
NL>
:LL>ML





888888888888888
	$GLFBEEBHGFBEEBHG:G=FBEEBHGBGO:KB:;E>E>:L>I:RF>GMLGHMBG=BG[*I>K:MBG@E>:L>EB:;BEBMB>L\:G=['HG@
M>KFHI>K:MBG@E>:L>EB:;BEBMB>L\HGMA>HGLHEB=:M>=:E:G<>.A>>M?HK?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ER
/A>P>B@AM>=:O>K:@>K>F:BGBG@E>:L>M>KF?HKHI>K:MBG@E>:L>LBLR>:KL:G=R>:KL:M%:GN:KR:G=
K>LI>ER/A>P>B@AM>=:O>K:@>=BLP:L:G=:M%:GN:KR:G=K>LI>ER


(:MNKBMB>LH?HI>K:MBG@E>:L>EB:;BEBMB>LP>K>:L?HEEHPL
!BL<:ER>:K>G=BG@











/A>K>:?M>K


'>LLBFINM>=BGM>K>LM

+K>L>GMO:EN>H?HI>K:MBG@E>:L>EB:;BEBMB>L


NMH=>LDA:LLN;E>:L>=<>KM:BGH??B<>LI:<>MH:MABK=I:KMR:G=A:L=MA>LN;E>:L>:L:GHI>K:MBG@E>:L>/A>
LN;E>:L>A:L:K>F:BGBG@E>:L>M>KFH?R>:KL.N;E>:L>BGP:LFBEEBHG:G=FBEEBHG=NKBG@MA>?BL<:ER>:KL>G=>=
%:GN:KR:G=K>LI>ER/A>K>P:LGHLN;E>:L>BGK>==NKBG@MA>?BL<:ER>:K>G=>=%:GN:KR
.N;E>:L>BGBLK>=:L:K>=N:L>>QI>GL>BGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGL
*I>K:MBG@E>:L>:FHNGMLBGMA>M:;E>:;HO>=HGHMBGLN;E>:L>BGI:RF>GMLH?FBEEBHGNMH=>LD>QI><>BO>LN;E>:L>BGI:RF>GMLH?:IIKHQBF:M>ERFBEEBHG?HK?BL<:EMAKHN@A?BL<:E:G=FBEEBHGMA>K>:?M>K
LH?%:GN:KRHI>K:MBG@E>:L>FBGBFNFE>:L>I:RF>GML?HK>Q>=E>:L>LMA:MA:O>GHMR>MG<>=P:L
FBEEBHG


:G>K6I>K:!CHIGJB:CIH
/A>?:BKO:EN>LH?=>KBO:MBO>BGLMKNF>GMLBGNMH=>LD^LHGLHEB=:M>=:E:G<>.A>>MLP>K>:L?HEEHPL:LH?%:GN:KR
:G=%:GN:KR
6A6C8:+=::I$D86I>DC
6>G.6AJ:6I
"6CJ6GN

"6CJ6GN

1>5B-@5B1??1@?
!HK>B@GGLB@G:M>=:L<:LA?EHPA>=@>L
+K>I:B=>QI>GL>L:G=HMA>K
GM:LL>ML




>KBO:MBO>LGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GML
+K>I:B=>QI>GL>L:G=HMA>K
GM:LL>ML



/HM:E=>KBO:MBO>:LL>ML




1>5B-@5B1!5-.585@51?
!HK>B@GGLB@G:M>=:L<:LA?EHPA>=@>L
*MA>K:<=EB:;BEBMB>L




>KBO:MBO>LGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GML
*MA>K:<=EB:;BEBMB>L




/HM:E=>KBO:MBO>EB:;BEBMB>L






/A>>??>KBO:MBO>L=>LB@G:M>=:LA>=@BG@BGLMKNF>GMLHGNMH=>LD^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLP>K>
:L?HEEHPL?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=:FHNGMLIK>L>GM>=BG:GRBGM:Q>??>H86A1:6GC9:9"6CJ6GN




FHNGMH?EHLL	@:BGK>=BG:<=HMA>KA>GLBO>EHLLG>MH?M:Q
>??>IHKMBHG	

	 



9;A:@-:08;/-@5;:;23-5:8;??>1/8-??525102>;9-//A9A8-@10;@41>/;9<>141:?5B18;??
5:@;5:/;911221/@5B1<;>@5;:
)>MK>O>GN>





	
HLMH?K>O>GN>

Z

	 
Z
*I>K:MBG@>QI>GL>L

Z

	 
	
/HM:E





	
/A>:FHNGM:G=EH<:MBHGH?@:BGEHLL	K>=BGG>MBGH?=>KBO:MBO>LGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GMLHG
NMH=>LD^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLP>K>:L?HEEHPL?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=
:FHNGMLIK>L>GM>=BG:GRBGM:Q>??>H86A1:6GC9:9"6CJ6GN




$GM>K>LM:G=HMA>KBG>QI>GL>	G>M






;>153:/A>>1:/E/;:@>-/@?01?53:-@10-?/-?428;C41031?
NMH=>LDNL>L?HK>B@GG=N<>MA>>QK:M>BFI:G>MK>O>GN>HKHI>K:MBG@
>QI>GL>H?<>KM:BG:GMB=MK:GL:L>G=>LB@G:M>=:G==HGM>=:L
<:LA?EHPA>=@>L/A>GHMBHG:E:FHNGMLH?MA>L>IK>L>GM>=G>ML>MME>=:G=P>K>;BEEBHG:M%:GN:KR
:G=FBEEBHG:M%:GN:KR*NMLM:G=BG@K>=:L>BMA>K:LL>MLHKEB:;BEBMB>LHGMA>HFI:GR^L
HGLHEB=:M>=:E:G<>.A>>ML:M?:BKO:EN>/A>F:CHKBMRH?MA>G>M@:BGH?FBEEBHGK>F:BGBG@BG[<=HMA>K
A>GLBO>EHLL\:LH?%:GN:KRBL>QI>=MH;>K>=BGMH>:KGBG@LPBMABGMA>G>QMFHGMAL


/A>EH<:MBHG:G=:FHNGMH?@:BGHKEHLLK>=BGBGHG<:LA?EHPA>=@>LMH@>MA>KPBMAMA>MHM:E:FHNGMH?
BGHK>QI>GL>IK>L>GM>=BGMA>HFI:GR^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLPA>K>MA>>??>A>=@>:K>
K>=P>K>:L?HEEHPL?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=
>H86A1:6GC9:9"6CJ6GN

&:IG:K:CJ:
DHID;
G:K:CJ:
'E:G6I>C<:ME:CH:H
+J7H8G>EI>DC
G:K:CJ:
%6>CI:C6C8:
G:K:CJ:
DHID;
HJ7H8G>EI>DC
6C9
B6>CI:C6C8:
G:K:CJ:
%6G@:I>C<
6C9H6A:H
*:H:6G8=6C9
9:K:ADEB:CI
:C:G6A6C9
69B>C>HIG6I>K:
/HM:E:FHNGMLH?BG:G=>QI>GL>EBG>
BM>FLIK>L>GM>=BGMA>HGLHEB=:M>=
.M:M>F>GMLH?*I>K:MBHGL






 




-5:8;??;:/-?428;C41035:3
>18-@5;:?45153:1D/4-:31/;:@>-/@?
FHNGMH?@:BGEHLL	K>=?KHF
:<=HMA>KA>GLBO>
BGBGMHBG



Z

Z

Z

	


>H86A1:6GC9:9"6CJ6GN

&:IG:K:CJ:
DHID;
G:K:CJ:
'E:G6I>C<:ME:CH:H
+J7H8G>EI>DC
G:K:CJ:
%6>CI:C6C8:
G:K:CJ:
DHID;
HJ7H8G>EI>DC
6C9
B6>CI:C6C8:
G:K:CJ:
%6G@:I>C<
6C9H6A:H
*:H:6G8=6C9
9:K:ADEB:CI
:C:G6A6C9
69B>C>HIG6I>K:
/HM:E:FHNGMLH?BG:G=>QI>GL>
EBG>BM>FLIK>L>GM>=BGMA>
HGLHEB=:M>=.M:M>F>GMLH?
*I>K:MBHGL












-5:8;??;:/-?428;C41035:3
>18-@5;:?45153:1D/4-:31/;:@>-/@?
FHNGMH?@:BGEHLL	K>=
?KHF:<=HMA>K
A>GLBO>BGBGMH
BG



Z

	

	

	

	
1>5B-@5B1?:;@01?53:-@10-?41035:35:?@>A91:@?
NMH=>LDNL>L?HK>B@GGGHM=>LB@G:M>=:LA>=@BG@BGLMKNF>GMLMHK>=N<>MA>>QK:M>KBLD
:LLH=IKBF:KBERPBMA?HK>B@GGGHFBG:M>=K><>BO:;E>LI:R:;E>L:G=<:LA/A>GHMBHG:E:FHNGMLH?MA>L>?HK>B@G
GIK>L>GM>=G>ML>MME>=:G=P>K>FBEEBHG:M%:GN:KR:G=FBEEBHG:M%:GN:KR




DBB>IB:CIH6C9DCI>C<:C8>:H
%A>/4-?1;995@91:@?
$GMA>GHKF:EH?;NLBG>LLNMH=>LD>GM>KLBGMHO:KBHNLINKGML?HK@HH=LHKL>KOB<>L/HM:EGHG
<:G<>EE:;E>INKGML:LH?%:GN:KRP>K>:IIKHQBF:M>ERFBEEBHG?HKI>KBH=LMAKHN@A?BL<:E
/A>L>INKGMLIKBF:KBERK>LNEM?KHFGM>K>=BGMH?HKMA>:KOB<>LF:KD>MBG@:G=
GMLK>E:M>=MHHNKBGO>LMF>GM:@K>>F>GMLPBMAEBFBM>=EB:;BEBMRI:KMG>KLABI?NG=L
NMH=>LDA:L<>KM:BGKHR:EMRGML:LLH=PBMAMA>L:E>:G=EB<>GLBG@H?<>KM:BGIKH=NQI>GL>BL
@>G>K:EER;:L>=HG:?BQ>=K:M>HO>K:LI>=I>KBH==HEE:K:FHNGMI>KNGBMLHE=HK:I>K<>GM:@>H?MA>NG=>KERBG@K>O>GN>
-HR:EMR>QI>GL>PAB=NG=>KG:G<>K>O>GN>:G=KK>O>GN>HG
NMH=>LD^LHGLHEB=:M>=.M:M>F>GMLH?*I>K:MBHGLP:LFBEEBHGBG?BL<:EFBEEBHGBG?BL<:E:G=FBEEBHG
BG?BL<:E
A->-:@11?-:0:019:525/-@5;:?
$GMA>GHKF:EH?;NLBG>LLNMH=>LDIKHOB=>LBG=>FGB?B<:MBHGLH?O:KRBG@LLBG=IKH=NL:G=BG=>FGB?B<:MBHGH?KL:@:BGLMEE>KMRBG?KBG@>F>GMF:=>;RMABK=I:KMB>L:KBLBG@
?KHFMA>NL>H?BMLIKH=NKOB<>LNMH=>LD:<L?HKDGHPGBG=>FGB?B<:MBHGBLLN>LB?:EHLLBLIKH;:;E>:G=<:G;>
K>:LHG:;ER>LMBF:M>=#BLMHKB<:EERE:M>=MHMA>L>BG=>FGB?B<:MBHGLA:O>GHM;>>GLB@GB?B<:GM:G=;><:NL>IHM>GMB:E
?NMNK>AB@AERO:KB:;E>NMH=>LDBLNG:;E>MH>LMBF:M>MA>F:QBFNFIHM>GMB:EBFI:L>BG=>FGB?B<:MBHGLHGBML
?NMNK>K>LNEMLH?HI>K:MBHGL
$GINKL:E>HKEB<>GL>H?:LL>MLHK;NLBG>LL>LPBMAMABK=I:KMB>LNMH=>LDA:L>GM>K>=BGMHHK
:LLNF>=FGB?B<:MBHG:@K>>F>GMLK>E:M>=MHMA>:LL>MLHK;NLBG>LL>LINK=LHE=HKEB<>GL>=#BLMHKB<:EER
E:M>=MHMA>L>BG=>FGB?B<:MBHGLA:O>GHM;>>GLB@GB?B<:GM:G=;><:NL>IHM>GMB:E?NMNK>AB@AERO:KB:;E>
NMH=>LDBLNG:;E>MH>LMBF:M>MA>F:QBFNFIHM>GMB:EBFI:L>BG=>FGB?B<:MBHGLHGBML?NMNK>K>LNEMLH?HI>K:MBHGL
LI>KFBMM>=NG=>K>E:P:K>E:PNMH=>LDA:L:@K>>F>GMLPA>K>;RBMBG=>FGB?B>LBMLH??B<>KL:G==BK>KM:BG
>O>GMLHKH<G<>LPABE>MA>H??B<>KHK=BK>KOBG@:MNMH=>LD^LK>JN>LMBGLNF:QBFNF
IHM>GMB:E:FHNGMH??NMNK>I:RF>GMLNMH=>LDK>JNBK>=MHF:D>NG=>KMA>L>BG=>FGB?B<:MBHG:@K>>F>GMLBLNGEBFBM>=
AHP>O>KNMH=>LDA:L=BK>KL^EB:;BEBMRBGLNK:G<>K:@>MA:MBLBGM>G=>=MHK>=N<>BML?BG:GQIHLNK>:G=
F:R>G:;E>NMH=>LDMHK>K:IHKMBHGH?:GR?NMNK>:FHNGMLI:B=NMH=>LD;>EB>O>LMA>>LMBF:M>=?:BKO:EN>H?MA>L>
BG=>FGB?B<:MBHG:@K>>F>GMLBG>Q<>LLH?:IIEB<:;E>BGLNK:G<>K:@>BLFBGBF:E
!13-8%>;/1105:3?
NMH=>LDBLBGOHEO>=BG:O:KB>MRH?LBGO>LMB@:MBHGL:G=IKH<>>=BG@LBGMA>GHKF:EH?
;NLBG>LLBG@>=BG?KBG@>F>GMH?BGM>EE>KMRKB@AMLKFIEHRF>GMM:QIKHL>=NL>;NLBG>LLIK:L:G=HMA>KF:MM>KLNMH=>LDKHNMBG>ERK>OB>PLMA>LM:MNLH?>:K:G=
:LL>LL>LBMLIHM>GMB:E?BG:GQIHLNK>$?MA>IHM>GMB:EEHLL?KHF:GRF:MM>KBLK>=IKH;:;E>:G=MA>:FHNGM<:G;>
K>:LHG:;ER>LMBF:M>=NMH=>LDK>>LMBF:M>=EHLL><:NL>H?BGA>K>GMNG<>KM:BGMB>LK>E:M>=MHMA>L>E>@:E
F:MM>KLNMH=>LD;:L>LBMLEHLL:<;>LMBG?HKF:MBHG:O:BE:;E>:MMA>MBF>L:==BMBHG:EBG?HKF:MBHG;>L
:O:BE:;E>NMH=>LDK>:LL>LL>LBMLIHM>GMB:EEB:;BEBMR:G=F:RK>OBL>BML>LMBF:M>L$GMA>HFI:GR^LHIBGBHGK>LHENMBHGH?
I>G=BG@F:MM>KLBLGHM>QI>=MHA:O>:F:M>KB:E:=O>KL>BFI:=K>LNEMLH?HI>K:MBHGL<:LA?EHPLHKBML
?BG:GGMA>NGIK>=BG:MNK>H?E>@:EIKH<>>=BG@LMA>K>BL:K>:LHG:;E>IHLLB;BEBMRMA:M:GNG?:OHK:;E>
K>LHENMBHGH?HG>HKFHK>LN>=BG@L?NMNK>F:M>KB:EER:??>HFI:GR^LK>LNEMLH?HI>K:MBHGL<:LA
?EHPLHK?BG:GKBH=AHP>O>K;:L>=HGMA>BG?HKF:MBHGDGHPG;RMA>HFI:GR:LH?MA>=:M>H?
MABL?BEBG@:G=MA>KNE>L:G=K>@NE:MBHGL:IIEB<:;E>MHMA>IK>I:K:MBHGH?MA>HFI:GR^L?BG:GF>GML:GRLNBMA>KBFF:M>KB:EHKBMBLGHMIHLLB;E>MHIKHOB=>:G>LMBF:M>=:FHNGMH?:GRLNGMB:EEHLL
$G>:KER(:KN=BMHFFBMM>>H?NMH=>LD^LH:K=H?BK>G<>=:GBGM>KG:EBGO>LMB@:MBHGPBMA
MA>:LLBLM:G<>H?HNMLB=>E:G=:=OBLHKLK>@:K=BG@MA>HFI:GR^L?K>><:LA?EHP:G=GHG
"+HI>K:MBG@F:K@BG
IK:LMA>[$GM>KG:E$GO>LMB@:MBHG\	*G(:KHFI:GROHENGM:KBER=MA>0..>L:G=
 QHFFBLLBHG[. \	MHBG?HKFBMH?MA>$GM>KG:E$GO>LMB@:MBHG*GIKBEMA>0GBM>=.M:M>LMMHKG>R^L*??B<>
?HKMA>)HKMA>KGBLMKB=MA>HFI:GRK>@:K=BG@MA>$GM>KG:E$GO>LMB@:MBHG/A>HFI:GR
OHENGM:KBERIKHOB=>=MA>. :G=0.*PBMA<>KM:BG=HGMLK>E:MBG@MHMA>$GM>KG:E$GO>LMB@:MBHG:G=PBEEMH


K:M>PBMAMA>. :G=0.*MMABLLM:@>MA>HFI:GR<:GGHMK>:LHG:;ER>LMBF:M>MA>:FHNGMH?:GRIHLLB;E>
?BG:GLNEM?KHFMABLF:MM>K
*GIKBEIE:BGMB??(BE:KD:LB?BE>=:INKIHKM>=?>=>K:EL>L)HKMA>KG
BLMKBHFI:GRHNKAB>? Q>*??B<>KG=K>PG:@GHLM:G=HNK?HKF>KAB>?!BG:GK>;HK:A'EB??HK=/A>:=(BE:KD:LBONMH=>LD$G<>M:E
=LAHKMER:?M>KMA>HFI:GR^L:GGHNG<>F>GMH?MA>N=BMHFFBMM>>H?MA>H:K=H?BK>KG:E
BGO>LMB@:MBHGK>@:K=BG@MA>HFI:GR^L?K>><:LA?EHP:G=GHG
"+HI>K:MBG@F:K@BGIK:L@>G>K:EER:EE>@>LMA:MMA>
=>?>G=:GMLF:=>?:EL>:G=FBLE>:=BG@LM:M>F>GMLBGOBHE:MBHGH?.>.>L Q;
IKHFNE@:M>=MA>K>NG=>K/A>:;KHN@AMHG;>A:E?H?MAHL>PAHINK=HK
HMA>KPBL>:=MA>HFI:GR^LIN;EB=L>L;>MP>>G%NG>:G=IKBE:G=L>>DLNGLI>=
=:F:@>L:G=HMA>KK>EB>?/A><:L>BLBGBML>:KERLM:@>L:G=:E>:=IE:BGMB??A:LR>MMH;>:IIHBGM>=MMABLLM:@>MA>HFI:GR
<:GGHMK>:LHG:;ER>LMBF:M>MA>:FHNGMH?:GRIHLLB;E>?BG:GLNEM?KHFMABLF:MM>K


+ID8@*:EJG8=6H:(GDLDA:LLMHINKIKH@K:FLMA:M:K>NL>=MHH??L>M=BENMBHG?KHFMA>BLLN:G<>H?LMHKMA>HFI:GR^L
>FIEHR>>LMHKINKIHL>L:LF:R;>BGMA>BGM>K>LMLH?NMH=>LD:G=BMLLMHKLPAB
>??>MNKGBG@>Q<>LL<:LA@>G>K:M>=?KHFMA>HFI:GR^L;NLBG>LLMHLMHKLNMH=>LDK>INK=:G=K>MBK>=
FBEEBHGLA:K>LBG?BL<:E:M:G:O>K:@>K>INKIKB<>H?I>KLA:K>FBEEBHGLA:K>LBG?BL<:E:M:G:O>K:@>
K>INKIKB<>H?I>KLA:K>:G=FBEEBHGLA:K>LBG?BL<:E:M:G:O>K:@>K>INKIKB<>H?I>KLA:K>
M%:GN:KR;BEEBHGK>F:BG>=:O:BE:;E>?HKK>INKNG=>KMA>)HO>F;>KK>INKIKH@K:F
:IIKHO>=;RMA>H:K=H?BK>LA:K>K>INKIKH@K:F=H>LGHMA:O>:G>QIBK:MBHG=:M>:G=MA>I:<>:G=MBFBG@H?
K>INKLPBEE=>I>G=HG?:G>K:MBHG?KHFHI>K:MBHGL:O:BE:;E>LNKIENLMA>OHENF>H?>FIEHR>>LMHF:BGBG@LA:K>L:O:BE:;E>BGMA>:NMAHKBS>=IHHE<:LAK>JNBK>F>GML?HK:JNBK>F>GMLMHK>MBK>
HNMLM:G=BG@=>;M>M:G=E>@:E:G=K>@NE:MHKRK>JNBK>F>GML


!CI:G:HI6C9'I=:G!C8DB:ME:CH:C:I
$GM>K>LM:G=HMA>KBG>QI>GL>	G>M?HEEHPBG@
>H86A1:6GC9:9"6CJ6GN




$GM>K>LM:G=BGO>LMF>GMBG>QI>GL>	G>M



	 
	
":BGHG?HK>B@GG@B<BGO>LMF>GML

	 



*MA>KBG





$GM>K>LM:G=HMA>KBG>QI>GL>	G>M



	 
	


88JBJA6I:9'I=:GDBEG:=:CH>K:$DHH
<=HMA>KA>GLBO>EHLLG>MH?M:Q>L=H?MA>?HEEHPBG@


&:I
-CG:6A>O:9
6>CH
$DHH:HDC
:G>K6I>K:
!CHIGJB:CIH
&:I
-CG:6A>O:9
6>CH
$DHH:HDC
K6>A67A:;DG
+6A:
+:8JG>I>:H
:;>C:9
:C:;>I
(:CH>DC
DBEDC:CIH
DG:>DC
9?JHIB:CIH
,DI6A
:E:G<>L%:GN:KR





	 
	 
	
*MA>KA>GLBO>BGEHLL	;>?HK>K>
M:Q@:BGK>=?KHF:<=HMA>KA>GLBO>
BG

	 
Z

	 
Z

	
/:Q>??>MGMI>KBH=HMA>KA>GLBO>BGEHLL	



Z

	 
	 
	
:E:G<>L%:GN:KR





	 
	 
	
*MA>KA>GLBO>BGEHLL	;>?HK>K>
M:Q@:BG	EHLLK>=?KHF:<=HMA>K
A>GLBO>BG

	 




Z

	
/:Q>??>MGMI>KBH=HMA>KA>GLBO>EHLL	BG

	 


	 
	 
	
:E:G<>L%:GN:KR





	 
	 
	
->E:M>=MH@:BGL:G=EHLL>LHG:O:BE:;E>
?HK
L:E>=>;ML>L:K>BG=BG[$GM>K>LM:G=HMA>KBG
>QI>GL>	G>M\->?>KMH)HM>[>KBO:MBO>$GLMKNF>GML\?HKMA>:FHNGM:G=EH<:MBHGH?K>E:M>=MH=>KBO:MBO>
BGLMKNF>GML->=>?BG>=;>G>?BMI>GLBHGGMLH?G>MI>KBH=B<;>G>?BMBG=BG[$GM>K>LM
:G=HMA>KBG>QI>GL>	G>M\


&:I!C8DB:(:G+=6G:
:LB<G>MBGI>KLA:K>BL=NLBG@MA>P>B@AM>=:O>K:@>GNF;>KH?LA:K>LH?I>KBH=BENM>=G>MBGI>KLA:K>BL=NLBG@MA>P>B@AM>=:O>K:@>GNF;>KH?LA:K>LH?I>KBH=:G=IHM>GMB:EER=BENMBO>LBG>??>LMKB=LMHK?HKF:G<>
LA:K>:P:K=L:G=LMHMK>:LNKRLMHMAH=/A>?HEEHPBG@M:;E>L>ML?HKMAMA>
GNF>K:MHKL:G==>GHFBG:MHKLNL>=BGMA>;:LB<:G==BENM>=G>MBGI>KLA:K>:FHNGML
>H86A1:6GC9:9"6CJ6GN




)NF>K:MHK
)>MBG






>GHFBG:MHK
2>B@AM>=:O>K:@>LA:K>L?HK;:LB<G>MBGI>KLA:K>






 ??>L>L





2>B@AM>=:O>K:@>LA:K>L?HK=BENMBO>G>MBGI>KLA:K>






:LB<G>MBGI>KLA:K>






BENM>=G>MBGI>KLA:K>






/A>=G>MBGI>KLA:K>=H>LGHMBGLA:K>LMA:M:K>:GMB
=BENMBO>NG=>KMA>MK>:LNKRLMHMAH=;><:NL>MA>BK>Q>KIKB<>L:K>AB@A>KMA:GMA>:O>K:@>F:KD>MO:EN>H?NMH=>LD^LLMH?BL<:ER>:K/A>
>??>LA:K>LP>K>>Q=?KHFMA>=G>M
BGI>KLA:K>?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=K>LI>ER




*:I>G:B:CI:C:;>I(A6CH
%>1@-D(-B5:3?%8-:
NMH=>LDA:L:D	IE:GMA:MKLG>:KER:EE0.>FIEHR>>L EB@B;E>>FIEHR>>LF:RNIMHH?MA>BK
IK>M:QL:E:KRLN;C>=;RMA>$GM>KG:E->O>GN>.>KOB<>NMH=>LDF:D>LOHENGM:KR<:LAL:IHKMBHGH?>FIEHR>>LD^LK>FBEEBHGBG?BL<:EFBEEBHG
BG?BL<:E:G=FBEEBHGBG?BL<:ENMH=>LD=H>LGHM:EEHPI:KMBLMBGNMH=>LDD	IE:G
125:101:125@%1:?5;:%8-:?
NMH=>LDIKHOB=>L<>KM:BG=>?BG>=;>G>?BMI>GLBHGIE:GLMH>FIEHR>>LEH<:M>=BGLHNMLB=>H?MA>0GBM>=.M:M>L
IKBF:KBERMA>0GBM>=&BG@=HF.PBMS>KE:G=:G=%:I:G/A>HFI:GR=>IHLBML?NG=L?HKLI>GMPBMAMA>
K>JNBK>F>GMLH?EH<:EE:PPBMABGLNK:G<>LHKMABK=
I:KMRMKNLM>>LHKBGMH@HO>KGF>GM
F:G:@>=:<L
?HKMA>NG?NG=>=IHKMBHGH?MA>H;EB@:MBHGPA>K>F:M>KB:E
/A>IKHC>=;>G>?BMH;EB@:MBHGP:LFBEEBHG:G=FBEEBHG:LH?%:GN:KR:G=%:GN:KR
K>LI>ER/A>:<=;>G>?BMH;EB@:MBHGP:LFBEEBHG:G=FBEEBHG:LH?%:GN:KR:G=%:GN:KR
K>LI>ER/A>K>E:M>=?:BKO:EN>H?IE:G:LL>MLP:LFBEEBHG:G=FBEEBHG:LH?%:GN:KR:G=
%:GN:KRK>LI>ER*NK=>?BG>=I>GLBHGIE:G:LL>ML:K>F>:LNK>=:M?:BKO:EN>:G=
@HKBS>=:LE>O>EBGMA>?:BKO:EN>AB>K:KLMF>GM?NG=O:EN>=NLBG@G>M:LL>MO:EN>/A>BGLNK:G<>
IK>L>GMMA>BFF>=B:M><:LALNKK>G=>KO:EN>H?:LL>MLF:G:@>=;RJN:EB?B>=BGLNK:G<>L/A>:LL>MLA>E=BG
MA>BGO>LMF>GM?NG=:K>BGO>LM>=BG:=BO>KLB?B>=@KHPMA?NG=:ERF:G:@>=;R:MABK=I:KMR
NMH=>LDK>=:G:@@K>@:M>I>GLBHGEB:;BEBMR?HKMA>?NG=>=LM:MNLH?FBEEBHG:G=FBEEBHGBG['HG@
M>KFHMA>K
EB:;BEBMB>L\HGMA>HGLHEB=:M>=:E:G<>.A>>M:LH?%:GN:KR:G=%:GN:KRK>LI>ER*NKMHM:EG>MI>KBH=B<
I>GLBHGIE:G:KL:G=K>LI>ER
*NK>QI>=?NG=BG@?HKMA>IE:GL=NKBG@?BL<:EBL:IIKHQBF:M>ERFBEEBHG
?@59-@10A@A>11:125@%-E91:@?
 LMBF:M>=;>G>?BMI:RF>GMLHO>KMA>G>QM?BL<:ER>:KL:K>:L?HEEHPL
(:CH>DC:C:;>IH














/HM:E


125:10;:@>5.A@5;:%8-:?
NMH=>LD:ELHIKHOB=>L=>?BG>=KM:BG?HK>B@GLPA>K>K>JNBK>=;RLM:MNM>NMH=>LD^L
?NG=BG@IHEBB@G=>?BG>=GMPBMAMA>EH<:EK>JNBK>F>GMLBG>:LD^L
L>IE:GLP>K>FBEEBHGBG?BL<:EFBEEBHGBG?BL<:E:G=FBEEBHGBG?BL<:E
-?4-8-:/1%8-:?
NMH=>LDIKHOB=>L:<:LA;:E:G<>IE:GMA:MBGLNK>LMA>KBLDLH?=BL:;BEBMR=>:MA:G=EHG@>OBMRBGPABO>LM>=
I>GLBHG<:IBM:EBLK>BGO>LM>=:G=IKHOB=>L:<:IBM:E:G=BGM>K>LM@N:K:GM>>/A>P>B@AM>=
:O>K:@>@N:K:GM>>=BGM>K>LM
=BMBG@K:M>?HK<:LA;:E:G<>IE:GLP:L:G=?HKF:G=:MHKRK>MBK>F>GML:OBG@L:G=:G=?HK
LNIIE>F>GM:KRK>MBK>F>GML:OBG@L?HK?BL<:E:G=K>LI>ER


$@41>%8-:?
$G:==BMBHGNMH=>LDH??>KL:GHG
JN:EB?B>==>?>KK>=GL:MBHGIE:GMH<>KM:BGD>R>FIEHR>>LPA>K>;RMA>RF:R
=>?>K:IHKMBHGHK:EE	H?MA>BK:GGN:EGL:MBHGNGMBEK>MBK>F>GMHK:=B??>K>GM=:M>LI>=;RMA>>FIEHR>>BG:<
PBMAM>KFLH?MA>IE:G.>>)HM>[>?>KK>=HFI>GL:MBHG\?HK?NKMA>K=BL;KN:KRNMH=>LD:=H?MA>HNMLM:G=BG@LMH=[+:R:IIL\	:E>:=BG@
=LH?MP:K>IE:M?HKF?HKF:G:@BG@E:M>=I:RF>GML?HKMHM:EK:MBHGH?FBEEBHGBG<:LA*?
MA>MHM:EK:MBHGMK:GL?>KK>=FBEEBHGBLK>=INKK:MBHG/A>K>F:BGBG@:FHNGMH?FBEEBHGPBEE
;>K>=BG[+K>I:B=>QI>GL>L:G=HMA>KGM:LL>ML\:G=['HG@
M>KFHMA>K:LL>ML\HGHNKHGLHEB=:M>=:E:G<>.A>>ML
:G=PBEE;>:FHKMBS>=MHLMH=GL:MBHG>QI>GL>NLBG@MA>LMK:B@AM
EBG>F>MAH=HO>KMA>O>LMBG@I>KBH=NMH=>LD
>QI>>I>GNMH=>LDHGLMKN:KH;NLMI:RF>GMF:G:@>F>GMH??>KBG@MHL>KO>MA>
G>>=LH?@>G>K:E:IIEB<:MBHGH?MA>I:RF>GMIKH<>LL+:R:IIL^
LHENMBHGIKHOB=>L@K>:M>KMK:GLI:K>G=N<>LKBLD:G=A>EIL:<<>E>K:M>MBF>
MH
I:RF>GM
*G(:KLD:=H?MA>+$3;NLBG>LLH?33''[+$3\	:IKH=NF>GM
LHENMBHG?HKL>K>OB>P:G=GMF>=B::G=>GM>KM:BGF>GMBG=NLMKR?HKMHM:EK:MBHGH?
FBEEBHGBG<:LA/A>:EI?HLM>K;KH:=>KEE:LA>EI=KBO>@K>:M>K
>??BGLBGMA>IKH=NLL
/A>:K>:<=?HK:L;NLBG>LLLDPBEEK>M:G@B;E>:G=BGM:G@B;E>:LL>ML
:=:G=EB:;BEBMB>L:LLNF>=;:L>=HGMA>BK>LMBF:M>=?:BKO:EN>L:MMA>=:M>H?:?:BKO:EN>L:LLB@G>=MHMA>
B=>GMB?B:;E>BGM:G@B;E>:LL>ML:=P>K>;:L>=HG>LMBF:M>L:G=:LLNFIMBHGL=>M>KFBG>=;RF:G:@>F>GMNMH=>LDPBEE
K>>Q<>LLH?K:MBHGMK:GL?>KK>=HO>KMA>:@@K>@:M>?:BKO:EN>L:L@HH=PBEE/A>@HH=PBEEMH;>K>=BL
IKBF:KBER:MMKB;NM:;E>MHLRG>K@B>L>QI>=MH:KBL>:?M>KMA>K>LI>:K:G@>H?
FBEEBHGMHFBEEBHGBL>QI>=MH;>=>=N?HK0.BGM:QINKIHL>L?HK+$3"HH=PBEE>QI>=MH;>
=>=N?HK0.BGM:QINKIHL>L?HK+:R:IILBLI>G=BG@:G=GHMR>M?BG:EBS>=/A>MK:GL:E:M>=MHMA>
:K>GHMF:M>KB:E
/A>?HEEHPBG@M:;E>LNFF:KBS>LMA>?:BKO:EN>H?MA>:LL>ML:=:G=EB:;BEBMB>L:LLNF>=;RF:CHK
;NLBG>LLO>EHI>=M>L



 

NLMHF>KK>E:MBHGLABIL


 

/K:=>G:F>


Z 

"HH=PBEE


 

>?>KK>=K>O>GN>:G=EHG@
M>KF=>?>KK>=K>O>GN>
	 
	 
	
'HG@
M>KF=>?>KK>=BGM:Q>L
	 
Z 
	
)>MM:G@B;E>:LL>ML


 

/HM:E



 

!HKMA>;NLBG>LL:EEH<:MBHGH?INKIKB<>K:MBHGMH<>KM:BG:LL>ML:G=EB:;BEBMB>L:LP>EE:LMA>
?BG:E:FHNGMH?INKK:MBHGBLGHMR>M?BG:EBS>=!HKMA>BM>FLGHMR>M?BG:EBS>=NMH=>LDL>LMBF:M>L:G=
:LLNFIMBHGL:K>LN;C>PBMABGMA>F>:LNK>F>GMI>KBH=NIMHHG>R>:K?KHFMA>:	/A>IKBF:KR:K>:L
H?MA>IK>EBFBG:KRINKIKB<>:EEH<:MBHGMA:M:K>GHMR>M?BG:EBS>=BG;NM:K>GHMEBFBM>=MH:FHNGML?HKBGM:G@B;E>
:LL>MLM:Q:LL>ML:G=EB:;BEBMB>L=>?>KK>=K>O>GN>:G=K>LB=N:E@HH=PBEE
*G(:RNMH=>LD:=>MA>K(>=B:$G<:IKHOB=>KH?:=:KMB?BEEB@>G<>IBI>EBG>?HK
:MBG@K
@>G>K:M>=KLBGMHEBO>
:G>L?HKIK>EBFBG:KRINKK:MBHGH?FBEEBHGG>M
H?<:LA:=/ABL:GA:G<>:KMB?BEEB@>G<><:I:;BEBMB>L?HKNMH=>LD^L1!3:MBHGMHHEL:G=
=>FHAB@A>G=1!3PHKDHGNMH=>LD^L!EHPIE:M?HKF2>:K>GMERBGMA>IKH<>LLH?=>M>KFBGBG@MA>BGBMB:E
INK:<=HGMA>MBFBG@H?MA>:BG?HKF:MBHGP>
=>M>KFBG>=BMMH;>BFIK:MH=BL:IK>EBFBG:KRINKIKB<>:EEH<:MBHG:MMABLMBF>


*:EDGID;!C9:E:C9:CI*:<>HI:G:9(J7A>888DJCI>C<>GB
/HMA>.MHKL:G=MA>H:K=H?BK>LD$G<
'E>C>DCDCI=:>C6C8>6A+I6I:B:CIH
2>A:O>:N=BM>=MA>:<=;:E:G<>LA>>MLH?NMH=>LD$G<MA>HFI:GR	:LH?%:GN:KR
:G=MA>K>E:M>==LM:M>F>GMLH?HI>K:MBHGLA>GLBO>BGLMHKL^>JNBMR:G=<:LA?EHPL?HK
>:MAK>>R>:KLBGMA>I>KBH=>G=>=%:GN:KR:G=MA>K>E:M>=GHM>L:G=?BG:GF>GML=NE>EBLM>=BGMA>
$G=>Q:M$M>F:		ERK>?>KK>=MH:LMA>[=?BG:GF>GML\	$GHNKHIBGBHGMA>=
?BG:GF>GMLIK>L>GM?:BKERBG:EEF:M>KB:EK>LI>?BG:GHFI:GR:M%:GN:KR:G=
:G=MA>K>LNEMLH?BMLHI>K:MBHGL:G=BML<:LA?EHPL?HK>:MAK>>R>:KLBGMA>I>KBH=>G=>=%:GN:KRBG
G>K:EER:<<>IM>=:<L
2>:ELHA:O>:N=BM>=BG:<PBMAMA>LM:G=:K=LH?MA>+N;EB<HFI:GR<KLB@AMH:K=0GBM>=
.M:M>L	+*	MA>HFI:GR^LBGM>KG:EK?BG:GIHKMBG@:LH?%:GN:KR;:L>=HGKB:>LM:;EBLA>=
BG$GM>KG:EHGMKHE$GM>@K:M>=!K:F>PHKDBLLN>=;RMA>HFFBMM>>H?.IHGLHKBG@*K@:GBS:MBHGLH?MA>/K>:=P:R
HFFBLLBHG?K:F>PHKD	:G=HNKK>IHKM=:M>=%NG>>QIK>LL>=:GNGJN:EB?B>=HIBGBHGMA>K>HG
6H>H;DG'E>C>DC
/A>L>?BG:GF>GML:K>MA>K>LIHGLB;BEBMRH?MA>HFI:GR^LF:G:@>F>GM*NKK>LIHGLB;BEBMRBLMH>QIK>LL:G
HIBGBHGHGMA>HFI:GR^L?BG:GF>GML;:L>=HGHNK:N=BML2>:K>:IN;EB<:<@BLM>K>=PBMAMA>
+*:G=:K>K>JNBK>=MH;>BG=>I>G=>GMPBMAK>LI>HFI:GRBG:<PBMAMA>0.?>=>K:EL>LE:PL:G=
MA>:IIEB<:;E>KNE>L:G=K>@NE:MBHGLH?MA>.>L:G= QHFFBLLBHG:G=MA>+*
2>=HNK:N=BMLBG:<PBMAMA>LM:G=:K=LH?MA>+*/AHL>LM:G=:K=LK>JNBK>MA:MP>IE:G:G=
I>K?HKFMA>:N=BMMHH;M:BGK>:LHG:;E>:LLNK:G<>:;HNMPA>MA>KMA>?BG:GF>GML:K>?K>>H?F:M>KB:EFBLLM:M>F>GM
PA>MA>K=N>MH>KKHKHK?K:N=*NK:N=BMLBG=I>K?HKFBG@IKH<>=NK>LMH:LL>LLMA>KBLDLH?F:M>KB:EFBLLM:M>F>GMH?MA>
?BG:GF>GMLPA>MA>K=N>MH>KKHKHK?K:N=:G=I>K?HKFBG@IKH<>=NK>LMA:MK>LIHG=MHMAHL>KBLDL.N=NK>L
BG=>Q:FBGBG@HG:M>LM;:LBL>OB=>G<>K>@:K=BG@MA>:FHNGML:G==BLLBGMA>?BG:GF>GML*NK:N=BML:ELH
BG=>O:EN:MBG@MA>:<LNL>=:G=LB@GB?B<:GM>LMBF:M>LF:=>;RF:G:@>F>GM:LP>EE:L>O:EN:MBG@MA>
HO>K:EEIK>L>GM:MBHGH?MA>?BG:GF>GML2>;>EB>O>MA:MHNK:N=BMLIKHOB=>:K>:LHG:;E>;:LBL?HKHNKHIBGBHG
G>I>86AJ9>I%6II:G
/A>K=;>EHPBL:F:MM>K:KBLBG@?KHFMA>GMI>KBH=:N=BMH?MA>?BG:GF>GML
MA:MP:L=HKK>JNBK>=MH;>=MHMA>:N=BM>:G=MA:M	K>E:M>LMH:<L
MA:M:K>F:M>KB:EMHMA>?BG:GF>GML:G=	BGOHEO>=HNK>LI>G@BG@LN;C>HKQCN=@F>GML/A>
K=H>LGHM:EM>KBG:GRP:RHNKHIBGBHGHGMA>=?BG:GF>GMLM:D>G
:L:PAHE>:G=P>:K>GHM;RK;>EHPIKHOB=BG@:L>I:K:M>HIBGBHGHGMA>KHKHGMA>:<LMHPABE:M>L



	


1?/>5<@5;:
;2@41"-@@1>
L=BL=BG)HM>MHMA>=?BG:GF>GMLK>O>GN>BLK>=PA>GMA>HFI:GRL
H??>KBG@L:K>=>EBO>K>=MHBMLKLBG:G:FHNGMMA:MK>?E>K:MBHG>QI>=BG>Q?HK
MA>IKH=NKOB<>L
/A>HFI:GR>GM>KLBGMHKLMA:MF:RBGIKHFBL>LMHMK:GL?>KM>KF
;:L>=
IKH=NKOB<>H??>KBG@L:G=LNIIHKML>KOB<>LN=BMBG@MA>HFI:GR^LK>O>GN>
K>G@BG@:G=Q=N>MHMA>>??HKMK>JNBK>=MH:G:ERS>MA>:<:MF>GM?HKMA>
HFI:GR^LO:KBHNLIKH=NKOB<>H??>KBG@LBG:<PBMA.->O>GN>?KHFHGMK:KL/ABLBGOHEO>=:LL>LLBG@MA>BFI:KFL:G=KLMH
=>M>KFBG>PA>MA>KIKH=NKOB<>L:K>K>==BLMBGK?HKF:G<>H;EB@:MBHGL:G=MA>K>E:M>=
MBFBG@H?K>O>GN>K>1??10
@41"-@@1>5:
$A>A05@
2>H;M:BG>=:GNG=>KLM:G=BG@>O:EN:M>=MA>=>LB@G:G=M>LM>=MA>HI>K:MBG@>??>G>LLH?BGM>KG:EKMA>HFI:GRLB=>GMB?B<:MBHG:G=>O:EN:MBHGH?=BLMBGK?HKF:G<>H;EB@:MBHGL:G=MA>=>M>KFBG:MBHGH?
MA>MBFBG@H?K>O>GN>K>KIKH<>=NK>LMH>O:EN:M>F:G:@>F>GM^LB=>GMB?B<:MBHG:G=>O:EN:MBHGH?MA>=BLMBGK?HKF:G<>
H;EB@:MBHGL:G=MBFBG@H?K>O>GN>K>K>:=>Q>=H?L:E>LMK:GL:KLM:G=MA>GMB?RMA>IKHFBL>=IKH=NKOB<>LBGMA>GMB?RMA>=BLMBGK?HKF:G<>H;EB@:MBHGL:G=K>E:M>=MBFBG@H?K>O>GN>K>A:O>L>KO>=:LMA>HFI:GRL:N=BMHKLBG<>
.:G!K:G



*:EDGID;!C9:E:C9:CI*:<>HI:G:9(J7A>888DJCI>C<>GB
/HMA>.MHKL:G=MA>H:K=H?BK>LD$G<
'E>C>DCDC!CI:GC6ADCIGDA'K:G>C6C8>6A*:EDGI>C<
2>A:O>:N=BM>=NMH=>LD$G<^LBGM>KG:EK?BG:GIHKMBG@:LH?%:GN:KR;:L>=HGKB:
>LM:;EBLA>=BG$GM>KG:EHGMKHE$GM>@K:M>=!K:F>PHKDBLLN>=;RMA>HFFBMM>>H?.IHGLHKBG@*K@:GBS:MBHGLH?MA>/K>:=P:R
HFFBLLBHG?K:F>PHKD	MA>*.*KB:	$GHNKHIBGBHGNMH=>LD$G<MA>HFI:GR	F:BGM:BG>=BG:EEF:M>KB:E
K>LI>??>BGM>KG:EK?BG:GIHKMBG@:LH?%:GN:KR;:L>=HGMA>*.*KB:
2>:ELHA:O>:N=BM>=BG:<PBMAMA>LM:G=:K=LH?MA>+N;EB<HFI:GR<KLB@AMH:K=0GBM>=
.M:M>L	+*	MA>:<=;:E:G<>LA>>MLH?MA>HFI:GR:LH?%:GN:KR:G=MA>K>E:M>=
=LM:M>F>GMLH?HI>K:MBHGLA>GLBO>BGLMHKL^>JNBMR:G=<:LA?EHPL?HK>:MAK>>R>:KL
BGMA>I>KBH=>G=>=%:GN:KR:G=MA>K>E:M>=GHM>L:G=?BG:GF>GML=NE>EBLM>=BGMA>$G=>Q:M$M>F:		
:G=HNKK>IHKM=:M>=%NG>>QIK>LL>=:GNGJN:EB?B>=HIBGBHGMA>K>HG
6H>H;DG'E>C>DC
/A>HFI:GR^LF:G:@>F>GMBLK>LIHGLB;E>?HKF:BGM:BGBG@>??>BGM>KG:EK?BG:GIHKMBG@:G=?HKBML
:LL>LLF>GMH?MA>>??>G>LLH?BGM>KG:EK?BG:GIHKMBG@BG=BGMA>:<F>GM^L->IHKM
HG$GM>KG:EHGMKHE*O>K!BG:GIHKMBG@*NKK>LIHGLB;BEBMRBLMH>QIK>LL:GHIBGBHGHGMA>HFI:GR^LBGM>KG:EK?BG:GIHKMBG@;:L>=HGHNK:N=BM2>:K>:IN;EB<:<@BLM>K>=PBMAMA>+*:G=:K>K>JNBK>=MH;>
BG=>I>G=>GMPBMAK>LI>HFI:GRBG:<PBMAMA>0.?>=>K:EL>LE:PL:G=MA>:IIEB<:;E>KNE>L:G=
K>@NE:MBHGLH?MA>.>L:G= QHFFBLLBHG:G=MA>+*
2>=HNK:N=BMBG:<PBMAMA>LM:G=:K=LH?MA>+*/AHL>LM:G=:K=LK>JNBK>MA:MP>IE:G:G=
I>K?HKFMA>:N=BMMHH;M:BGK>:LHG:;E>:LLNK:G<>:;HNMPA>MA>K>??>BGM>KG:EK?BG:GIHKMBG@P:L
F:BGM:BG>=BG:EEF:M>KB:EK>LI>=H;M:BGBG@:GNG=>KLM:G=BG@H?BGM>KG:EK?BG:GIHKMBG@:LL>LLBG@MA>KBLDMA:M:
F:M>KB:EP>:DG>LL>QBLMLM>LMBG@:G=>O:EN:MBG@MA>=>LB@G:G=HI>K:MBG@>??>G>LLH?BGM>KG:E=HGMA>:LL>LL>=
KBLD:G=I>K?HKFBG@LNKIKH<>=NK>L:LP>K>=G><>LL:KRBGMA>L2>;>EB>O>MA:MHNK:N=BMIKHOB=>L
:K>:LHG:;E>;:LBL?HKHNKHIBGBHG
:;>C>I>DC6C9$>B>I6I>DCHD;!CI:GC6ADCIGDA'K:G>C6C8>6A*:EDGI>C<
KG:EK?BG:GIHKMBG@BL:IKH<>LL=>LB@G>=MHIKHOB=>K>:LHG:;E>:LLNK:G<>K>@:K=BG@MA>
K>EB:;BEBMRH??BG:GIHKMBG@:G=MA>IK>I:K:MBHGH??BG:GF>GML?HK>QM>KG:EINKIHL>LBG:<PBMA@>G>K:EER
:<<>IM>=:<LKG:EK?BG:GIHKMBG@BGLMAHL>IHEBL:G=IKH<>=NK>L
MA:M	I>KM:BGMHMA>F:BGM>G:G<>H?K>:LHG:;E>=>M:BE:<ER:G=?:BKERK>?E>MK:GL::LL>MLH?MA>K>:LHG:;E>:LLNK:G<>MA:MMK:GL:K>=:LG><>LL:KRMHI>KFBM
IK>I:K:MBHGH??BG:GF>GMLBG:<PBMA@>G>K:EER:<<>IM>=:<L:G=MA:MK><>BIML:G=
>QI>G=BMNK>LH?MA>;>BG@F:=>HGERBG:<PBMA:NMAHKBS:MBHGLH?F:G:@>F>GM:G==BK>
K>:LHG:;E>:LLNK:G<>K>@:K=BG@IK>O>GMBHGHKMBF>ER=>M>=:HK
=BLIHLBMBHGH?MA>MLMA:M:F:M>KB:E>??>?BG:GF>GML
><:NL>H?BMLBGA>K>GMEBFBM:MBHGLBGM>KG:EK?BG:GIHKMBG@F:RGHMIK>O>GMHK=>M>F>GMLELH
IKHC>O:EN:MBHGH?>??>G>LLMH?NMNK>I>KBH=L:K>LN;C>KBLDMA:MBG:=>JN:M>
;><:NL>H?LBG=>@K>>H?PBMAMA>IHEBLHKIKH<>=NK>LF:R=>M>KBHK:M>
L KGLM4HNG@''+







.:G!K:G


!,%
 &+!&&!+*%&,+/!, '-&,&,+'&'-&,!&&
!&&!$!+$'+-*
)HG>
!,%
'&,*'$+&(*'-*+
.$-,!'&'!+$'+-*'&,*'$+&(*'-*+
2>F:BGM:BG[=BL=NK>L\:L=>?BG>=BG-NE>:
>	:G==
>	NG=>KMA>.>L
 QG=>=MA>[ Q=NK>L:K>=>LB@G>=MH>GLNK>MA:M
BG?HKF:MBHGK>JNBK>=MH;>=BL=BGHNK QIHKMLBLB	K>=IKH<>LL>=LNFF:KBS>=:G=K>IHKM>=PBMABG
MA>MBF>I>KBH=LLI>=BGMA>KNE>LH?MA>.>L:G= QHFFBLLBHG[. \	:G=BB	:<=:G=
=MHNMH=>LDF:G:@>F>GMBG? Q>*??B<>K:G=AB>?!BG:GKMH:EEHPMBF>ER
=>@:K=BG@K>JNBK>==BL2>=:G>O:EN:MBHGNG=>KMA>LNI>KOBLBHG:G=PBMAMA>I:KMB? Q>*??B<>K:G=AB>?!BG:GKH?MA>>??>G>LLH?MA>=>LB@G:G=HI>K:MBHGH?HNK=BL=NK>L:LH?MA>>G=H?MA>I>KBH=K>=;RMABLGGN:E->IHKMHG!HKF
&:L>=NIHGMABL>O:EN:MBHGHNKAB>?
 Q>*??B<>K:G=AB>?!BG:GKA:O>=MA:MHNK=BL=NK>L:K>>??>:LH?
%:GN:KR
%&%&,+*('*,'&!&,*&$'&,*'$'.*!&&!$*('*,!&
*NKF:G:@>F>GMBLK>LIHGLB;E>?HK>LM:;EBLABG@:G=F:BGM:BGBG@:=>JN:M>BGM>KG:EK?BG:GIHKMBG@:L
=>?BG>=BG-NE>:
?	NG=>KMA>.>L QG=>=	*NKF:G:@>F>GM:LL>LL>=MA>>??>G>LL
H?HNKBGM>KG:EK?BG:GIHKMBG@:LH?%:GN:KR$GF:DBG@MABL:LL>LLF>GMHNKF:G:@>F>GMNL>=MA>
KB:L>M?HKMA;RMA>HFFBMM>>H?.IHGLHKBG@*K@:GBS:MBHGLH?MA>/K>:=P:RHFFBLLBHG[*.*\	BGMA>$GM>KG:E
HGMKHEZ$GM>@K:M>=!K:F>PHKD*NKF:G:@>F>GMBG? Q>*??B<>K:G=AB>?!BG:GK=H>LGHM
>QI>=NK>LHKHNKBGM>KG:EK?BG:GIHKMBG@PBEEG><>LL:KBERIK>O>GM:EE
>KKHKL:G=:EE?K:N=FGHF:MM>KAHPP>EEBO>=:G=HI>K:M>=<:GIKHOB=>HGERK>:LHG:;E>GHM:;LHENM>
:LLNK:G<>MA:MMA>H;C>LH?MA>F:K>F>M!NKMA>KMA>=>LB@GH?:FFNLMK>?E>?:K>:K>K>LHNK<>;>G>?BMLH?K>=K>E:MBO>MHMA>BK<:NL>H?MA>BGA>K>GM
EBFBM:MBHGLBG:EEFLGH>O:EN:MBHGH?:;LHENM>:LLNK:G<>MA:M:EEL:G=BGLM:G<>L
H??K:N=B?:GRPBMABGNMH=>LDA:O>;>>G=>M>=
*NKF:G:@>F>GMA:L=MA:M:LH?%:GN:KRHNKBGM>KG:EK?BG:GIHKMBG@P:L>??>MH
IKHOB=>K>:LHG:;E>:LLNK:G<>K>@:K=BG@MA>K>EB:;BEBMRH??BG:GIHKMBG@:G=MA>IK>I:K:MBHGH??BG:GF>GML?HK
>QM>KG:EINKIHL>LBG:<PBMA@>G>K:EER:<<>IM>=:<L*NKBG=>I>G=>GMK>@BLM>K>=IN;EB<:<=:G:N=BMK>IHKMHGHNKBGM>KG:EK?BG:GIHKMBG@PAB=BG+:KM
$$$M>FA>K>BG
 &+!&!&,*&$'&,*'$'.*!&&!$*('*,!&
/A>K>P>K>GHLBGHNKBGM>KG:EK?BG:GIHKMBG@:LLNKFBL=>?BG>=BG-NE>L:
?	:G=
=
?	NG=>KMA>.>L QMAK>>FHGMAL>G=>=%:GN:KRMA:MA:O>F:M>KB:EER
:??>=HK:K>K>:LHG:;EREBD>ERMHF:M>KB:EER:??>KG:EK?BG:GIHKMBG@
!,%
', *!&'*%,!'&
(*,-*'!*,'*+'*(*!&!($'!*+$,!'&'!*,'*+(('!&,%&,'
(*!&!($'!*+
!HKBG?HKF:MBHGK>@:K=BG@HNKK><>GMIKBGKIE>:L>L>>MA> QIE:G:MHKR)HM>:G=$M>F
[$G?HKF:MBHG;HNM*NK Q>*??B<>KL\PABA>K>;RBG=;RK>?>K>G<>
+-*!,!+,*!&($&+'!*,'*+&0-,!.'!*+
NKBG@HNKE:LM?BL<:EJN:KM>KMA>?HEEHPBG@=BK>KL	:L=>?BG>=BG-NE>:
?	:=HIM>=:[-NE>;

MK:=BG@:KK:G@>F>GM\:L=>?BG>=BG->@NE:MBHG.
&$M>F:L?HEEHPL


*G><>F;>K.M>O>ENFHNKAB>?*I>K:MBG@*??B<>KHG;>A:E?H?MA>'0(!( '/-0
:=HIM>=:-NE>;
MK:=BG@:KK:G@>F>GMIKHOB=BG@?HKMA>L:E>?KHFMBF>MHMBF>H?:G:@@K>@:M>H?NIMH
LA:K>LH?HNKMK:=BG@:KK:G@>F>GMBLBGM>G=>=MHL:MBL?RMA>:??BKF:MBO>=>?>GL>BG-NE>;
<	/A>
=NK:MBHGH?MA>MK:=BG@:KK:G@>F>GMBLNGMBE)HO>F;>KHK>:KEB>KB?:EEMK:GL:KMA>MK:=BG@:KK:G@>F>GM:K>
M>=
)HHMA>KH??B<>KLHK=BK>?BG>=BG-NE>:
?	:=HIM>=:G=HKM>KFBG:M>=:[-NE>;
MK:=BG@
:KK:G@>F>GM\HK:GHG
;
MK:=BG@:KK:G@>F>GM\HK:GHG
;
MK:=BG@:KK:G@>F>GM\:L=>?BG>=BG->@NE:MBHG.
&$M>F
=NKBG@MA>E:LM?BL<:EJN:KM>K
!,%

!+$'+-***!&'*!&"-*!+!,!'&+, ,(*.&,!&+(,!'&+
)HMIIEB<:;E>


(*,!!!
!,%

!*,'*+0-,!.'!*+&'*('*,'.*&&
!&'*%,!'&'-,'-*!*,'*+
/A>;>EHP;BH@K:IAB>LIKHOB=>MA>G:F>:@>:G=<>KM:BG;BH@K:IAB<:EBG?HKF:MBHG:LH?(:K:=BK>JN:EB?B<:MBHGLMHL>KO>HGMA>H:K=
C9G:LC69:CI6C9=>:;M:8JI>K:';;>8:G
<:P>G:8IDGH>C8:

KG:@GHLMCHBG>=NMH=>LDBG.>IM>F;>K:G=A:LL>KO>=:L+K>LB=>GM:G=AB>? Q>*??B<>KLBG<>%NG>
KG:@GHLML>KO>=:LH
 *?KHF!>;KN:KRMH%NG>AB>?(:KD>MBG@*??B<>K?KHF><>F;>KMH%NG>
:G=.>GBHK1B<>+K>LB=>GMNLBG>LL.MK:M>@R(:KD>MBG@?KHF(:K!KHF><>F;>KMH
(:K+K>LB=>GM+KH=NL:G=2>;.>KOB<>L+KBHKMHMABLIHLBMBHGKG:@GHLM
L>KO>=:L1B<>+K>LB=>GMH? IKH=N<>F;>K
+K>OBHNLERKG:@GHLMA>E=HMA>KL>GBHKF:G:@>F>GMIHLBMBHGL:MNMH=>LD+KBHKMHCHBGBG@NMH=>LDKG:@GHLMA>E=
O:KBHNL>G@BG>>KBG@L:E>LF:KD>MBG@:G=IKH=NF>GMIHLBMBHGL:M'H>=>KHG:NMB<:E.RLM>FLHFI:GR:G=
 3HKIHK:MBHG#>:ELHL>KO>=:L:G)-IHLM
=HEEHP:M).F>L->L>:KGM>KKG:@GHLMAHE=L:
:EHKH?.G<>=>@K>>BG(>>KBG@?KHF:EB?HKGB:.M:M>0GBO>KLBMR)HKMAKB=@>:G=AHE=L;HMA:G(.BG
 G@BG>>KBG@.G<>:G=:+ABG>KHG:NMB<:E G@BG>>KBG@:G=HFINM>K.G<>?KHF.M:G?HK=0GBO>KLBMRKG:@GHLM
CHBG>=MA>;H:K=H?=BK>IM>F;>K
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
KG:@GHLM;KBG@LMHMA>H:K=>QM>GLBO>>QI>KB>G<>BGMA>M>GMMPH=><:=>LBGF:G:@>F>GM
KHE>LPBMABGNMH=>LDLHNK+K>LB=>GM:G=AB>? Q>*??B<>KKG:@GHLMIHLL>LL>L:=>>IDGHPE>=@>:G=
NG=>KLM:G=BG@H?NMH=>LD^L;NLBG>LLHI>K:MBHGL:G=>FIEHR>>LMA>HIIHKMNGBMB>L:G=KBLDLP>?:<>:G=F:G:@>F>GM^L
LMK:M>@R:G=IE:GL?HK:<LD^L@H:EL
+NKLN:GMMHKG:@GHLM^L>FIEHRF>GM:@K>>F>GMNMH=>LDA:L:@K>>=MHGHFBG:M>KG:@GHLMMHL>KO>:L:F>F;>KH?
MA>H:K=?HK:LEHG@:LA>BL>FIEHR>=;RNMH=>LD:L *


+I68N"
+B>I=
&DC	M:8JI>K:=6>GD;I=:D6G9D;>G:8IDGH
<:
P>G:8IDGH>C8:

P!C9:E:C9:CI
JID9:H@DBB>II::HDGEDG6I:DK:GC6C8:6C9&DB>C6I>C<
(K.FBMAGMERL>KO>L:LMA>GHG
>Q>A:BKH?MA>H:K=H?BK>>Q>KER/HLAB;:(>FHKRHKIHK:MBHG	:E>:=BG@?E:LAF>FHKROBHNLERL>KO>=:L
"KHNI+K>LB=>GMH?.:E>L(:GN?:K:MBHGL:M$GM>EHKIHK:MBHG?KHF!>;KN:KRMH%:GN:KR#>L>KO>=
:LMA> Q>1B<>+K>LB=>GM(:GN?:K:MBHGL:G=.:E>LH?$GM>EHKIHK:MBHG?KHF*KMH!>;KN:KR
!KHF)HO>F;>KMH*KA>L>KO>=:L Q>1B<>+K>LB=>GMAB>?!BG:GK+K>OBHNLER(K
.FBMAL>KO>=:L.>GBHK1B<>+K>LB=>GMAB>?!BG:GK?KHF%:GN:KRMH)HO>F;>K1B<>+K>LB=>GMAB>?
!BG:GK?KHFMH:G=1B<>+K>LB=>GMLLBLM:GMAB>?!BG:GK?KHFMH!KHFMH
(K.FBMAL>KO>=:L1B<>+K>LB=>GM!BG:G<>:G= GM>KIKBL>.>KOB<>L:G=AB>?$G?HKF:MBHG*??B<>K(K.FBMACHBG>=
$GM>EBG(K.FBMAA:LL>KO>=HGMA>;H:K=H?=BK>*K:G=HGMA>;H:K=H?
2HE?LI>>=$G<LBG<>%:GN:KR$G(:KCHBG>=MA>;H:K=H?=BK>EHKIHK:MBHG(K.FBMA:ELH
L>KO>LHG/A>:EB?HKGB:A:IM>KH?/A>):MNK>HGL>KO:G>L:G=MA>0GBO>KLBMRH?/>Q:L(<HF;L
.LL=OBLHKRH:K=(K.FBMAIK>OBHNLERL>KO>=HGMA>;H:K=LH?=BK>MKHFBE>$G<?KHF%NER
MH!>;KN:KR1BK@BGF>KB<:?KHF!>;KN:KRNGMBEBMP:L:=;RE:LD:BK"KHNIBG><>F;>K
:G=">OH$G<?KHF%NG>MH%NG>

)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(K.FBMABLBG=>I>G=>GM:G=ABLFHK>MA:GMPH=><:=>LH?>QI>KB>G<>BGMA>M>ABFPBMA:LMKHG@
NG=>KLM:G=BG@H?NMH=>LD^LBG=NLMKR;NLBG>LL:G=BGM>KG:MBHG:EHI>K:MBHG:EG@>L#BLF:G:@>F>GMIHLBMBHGLPBMA
$GM>EBG:G=>Q>KHE>L:G=ABLMBF>LI>GMHO>KL>:LIKHOB=>ABFPBMA
HI>K:MBHG:EK>JNBK>F>GMLH?:@EH;:EF:G:@>F>GM:G=GLNL
;NBE=BG@LDBEELK>JNBK>=MHE>:=HNKH:K=
:LGHG
>Q>A:BK:G=MHL>KO>HGHNKHKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>
#6G:CA6H>C<
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HJ9>I
(LE:LBG@A:LHO>KR>:KLH?>Q>HI>K:MBHG:E:G=?BG:G:=>KLABI>QI>KB>G<>BGMA>M>KO>=:LMA>AB>?!BG:GKH?"NB=>PBK>.H?MP:K>$G<:GBGLNK:G<>LH?MP:K>PBK>(LE:LBG@L>KO>=:LMA>AB>?!BG:GK?HK!HK<>)>MPHKDL:G=.>GBHK1B<>
+K>LB=>GMH?!BG:G<>?HKL:E>L?HK<>KO>=:LAB>?!BG:GK?HK)N:G<>
HFFNGB<:MBHGL$G<:G=HNGM>KI:G>$GM>KG>M.>E=L>GBHK?BG:G<>KHE>L?HK$G?HKFBQGHP$(
$G?HKFBQ	:G=*K:HKIHK:MBHG(LE:LBG@A:L:ELHL>KO>=HGMA>;H:K=LH?=BK>K$G<LBG<>%:GN:KR
:G="BM':;$G<LBG<>N@NLM(LE:LBG@IK>OBHNLERL>KO>=HGMA>;H:K=H?=BK>(:>$G<?KHF%NG>
MH(:R
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(LE:LBG@BLBG=>I>G=>GM:G=A:LFHK>MA:GR>:KLH?>Q>HI>K:MBHG:E:G=?BG:GQI>KB>G<>BGMA>M>QI>KB>G<>:M"NB=>PBK>.H?MP:K>!HK<>)>MPHKDLL:E>L?HK<>
HFFNGB<:MBHGLIKHOB=>LA>KPBMA:LMKHG@NG=>KLM:G=BG@H?NMH=>LD^L;NLBG>LL:G=BGM>KG:MBHG:EHI>K:MBHG:EG@>L
#>K>QI>KB>G<>:L:??BG:GKIKHOB=>LA>KPBMAMA>?BG:GGG><>LL:KRMHL>KO>HGHNKN=BM
HFFBMM>>


*:>9G:C8=
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HDBE:CH6I>DC6C9 JB6C*:HDJG8:H
(K!K>GKR>:KLH?>Q>E>:=>KLABI>QI>KB>G<>BGMA>LH?MP:K>BG=NLMKR(K!K>GKO>=:LAB>?
 Q>*??B<>KH?IIEB>=.RLM>FL$G<:E>:=BG@IKHOB=>KMHMA>BGLNK:G<>BG=NLMKR?KHF.>IM>F;>K
MH%NG>:G=:L:F>F;>KH?BMLH:K=H?BK>IM>F;>KMH%:GN:KR+K>OBHNLER(K!K>G?*I>K:MBG@*??B<>K:M$GM>K@K:IAHKIHK:MBHG:@EH;:E@>HLI:MB:E:G=K
:B=>==>LB@GLH?MP:K>KPA>G$GM>K@K:IAP:L:=;R#>Q:@HG!KHF*KMHIKBE(K!K>G1B<>+K>LB=>GMH?.MK:M>@B<+E:GGBG@:G=HKIHK:M>>O>EHIF>GM:M$GM>K@K:IA(K!K>GEHK^L
=>@K>>BG>@>PA>K>A>L>KO>LHGMA>HEE>@>^L;H:K=H?MKNLM>>L#>:ELHAHE=L:G(
?KHFMA>#:KO:K=NLBG>LL.LBMLHGMA>;H:K=H?=BK>KBGM.RLM>FL$G<%..$$G<:G=)>MHGML
.H?MP:K>$G<
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(K!K>GI>G=>GM:G=ABL>Q>HI>K:MBHG:E:G=LMK:M>@B<E>:=>KLABI>QI>KB>G<>BGMA>M>
ABFPBMA:=>>ING=>KLM:G=BG@H?NMH=>LD^LM>LL(K!K>G:KLH?L>KOB<>:L:G>Q>H??B<>K
:G=ABLL>KOB<>HGMA>;H:K=H?=BK>=.RLM>FLIKHOB=>ABFPBMAMA>>Q>GL:MBHGDGHPE>=@>
G><>LL:KRMHL>KO>HGHNKHFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>
G
N6CC6 DL6G9
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HJ9>I
K#HP:K=BL:G>GMK>IK>G>NK:G=>QI>KMBGKH;HMBKBGM>K:EEB@>G<>.BG<>(:KKO>=:L>:GH?MA>HEE>@>H? G@BG>>KBG@:M/A>*ABH.M:M>0GBO>KLBMR.A>BL:ELH:M>GNK>=
IKH?>LLHKBGMA>@>^L>I:KMF>GMH? E>K G@BG>>KBG@PBMA:CHBGM:IIHBGMF>GMBGHFINM>K.G<>
:G= G@BG>>KBG@$G:==BMBHGK#HP:K=BLMA>!HNG=>K:G=AB>?/>KH?5RKH;HMBLB@GL
$
IHP>K>=./ (MHHEL?HK>:KER=N<:MBHGK#HP:K=IK>OBHNLERL>KO>=:LMA>'BG=:%:G=(:KD.FBMA
+KH?>LLHK.K G@BG>>KBG@:M">HK@B:$GLMBMNM>H?/>;KN:KR
:G=A:BKH?MA>.K:HFINMBG@:M">HK@B:/>;KN:KR+KBHKMH
">HK@B:/>KO>=:L.>GBHK-H;HMBL>:KK:G=>INMR(:G:@>KBGMA>*??B<>H?MA>AB>?.GMBLMPBMA
).^L%>M+KHINELBHG':;HK:MHKRK#HP:K=L>KO>LHGMA>;H:K=H?(HMHKHE:.HENMBHGL$G<:G=L>KO>LHGMA>:=OBLHKR
;H:K=L?HKGNF>KHNLKH;HMB=HK@:GBS:MBHGLK#HP:K=AHE=L:=>@K>>?KHFKHPG0GBO>KLBMR:G(.:G=
+ABG E>>KBG@?KHFMA>0GBO>KLBMRH?.HNMA>KG:EB?HKGB::LP>EE:L:G(?KHFMA>KNK"K:=N:M>
.F>GM
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
K#HP:K=BLBG=>I>G=>GM:G=A>K>Q>HI>K:MBHG:E:<:=>FB<:G=LMK:M>@B<E>:=>KLABI>QI>KB>G<>BGMA>M>A>KPBMA:=>>ING=>KLM:G=BG@H?NMH=>LD^LM>LL#>K>QI>KB>G<>:L:G>GMK>IK>G>NK:G=
?HNG=>K:G=A>K;NLBG>LL=>@K>>IKHOB=>A>KPBMAMA>?BG:GGG><>LL:KRMHL>KO>HGHNKN=BMHFFBMM>>


A6@:!GK>C<
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HDGEDG6I:DK:GC6C8:6C9&DB>C6I>C<
(K$KOBG@A:LHO>KR>:KLH?>Q>E>:=>KLABI>QI>KB>G<>BGMA>M>KO>=:LMA>AB>?
 Q>*??B<>KH?"H:==R$G<:G$GM>KG>M=HF:BGK>@BLMK:K:G=P>;AHLMBG@KO>=HGMA>;H:K=H?=BK>!KHFMH(K$KOBG@L>KO>=
:LAB>?+KH=NKH?4:AHH$G<!KHFMH(K$KOBG@P:L:+KH?>LLHKBGMA>(IKH@K:F:M+>II>K=BG>
0GBO>KLBMR!KHFMH(K$KOBG@L>KO>=BGO:KBHNLL>GBHK:G=F:G:@>F>GMKHE>L:M(B<>GMER:LHKIHK:M>1B<>+K>LB=>GMH?2BG=HPL'BO>+E:M?HKF"KHNI(K$KOBG@A:LL>KO>=HGMA>;H:K=LH?=BK>N@NLM5BI->K$G<LBG<>)HO>F;>K:G=!EHPAN;''LBG<>%:GN:KR
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(K$KOBG@BLBG=>I>G=>GM:G=A:LFHK>MA:GR>:KLH?>Q>HI>K:MBHG:E:G=LMK:M>@B<E>:=>KLABI>QI>KB>G<>BGMA>
M>QI>KB>G<>:M"H:==R4:AHH:G=(BLABFPBMA:LMKHG@NG=>KLM:G=BG@H?
NMH=>LD^LBG=NLMKR;NLBG>LL:G=BGM>KG:MBHG:EHI>K:MBHG:EG@>L:G=PBMAMA>>Q>GL:MBHGDGHPE>=@>
G><>LL:KRMHL>KO>HGHNKHKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>
%6GN,
%8DL:AA
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HDBE:CH6I>DC6C9 JB6C*:HDJG8:H=6>G
(L(<HP>EEL>KO>=:LMA>+K>LB=>GM:G=AB>? Q>*??B<>KH?(BM>E)>MPHKDLHKIHK:MBHG:M>E>KMH)HO>F;>K:G=MK:GLBMBHG>=MHL>KO>:LH:K=A:BKNGMBE)HO>F;>K+K>OBHNLER
(L(<HP>EEL>KO>=:LMA>AB>? Q>*??B<>K:G=F>F;>KH?MA>;H:K=H?=BK>IM>F;>K
MH%NERPA>GMA>=;R+E:GMKHGBEEP:L:G Q>
+:KMG>K:M.BKBL:IBM:E''.A>L>KO>=:L Q>1B<>+K>LB=>GMBGH?)HDB:^L(H;BE>+AHG>NGBM?KHF%NER
MH%NER:G=:L Q>1B<>+K>LB=>GM:G=AB>?>O>EHIF>GM*??B<>KH?)HDB:HKIHK:MBHG?KHF%:GN:KRMH%NER
+K>OBHNLER(L(<HP>EEL>KO>=:L Q>1B<>+K>LB=>GM:G=">G>K:E(:G:@>KH? GM>KIKBL>.HENMBHGLH?)HDB:
?KHF%:GN:KRMH><>F;>K+KBHKMHCHBGBG@)HDB:BG(L(<HP>EELI>GMR>:KLBGO:KBHNL>Q>
F:G:@>KB:E:G=HMA>KIHLBMBHGL:MHFI:JHFINM>KHKIHK:MBHG:G=#>PE>MM
+:KOBG@:L.>GBHK
1B<>+K>LB=>GM$G=NLMKR
.M:G=:K=.>KO>KLH?#>PE>MM
+:EEA:LL>KO>=:LE>:==BK>
)HO>F;>KA:OBG@L>KO>=:L:=BK>%NG>(L(<HP>EEIK>OBHNLERL>KO>=:LH:K=A:BK
H?(BM>E)>MPHKDLHKIHK:MBHG?KHF)HO>F;>KMH)HO>F;>K:G=:L:=BK>:G=:L:=BK>$G<?KHF><>F;>KMH*K:G=:LGL:MBHG>
$G<?KHFY(L(<HP>EE:ELHL>KO>L:LA:BKH?MA>0GBO>KLBMRH?$EEBGHBLHEE>@>H?
 G@BG>>KBG@LH:K=H?1BLBMHKL
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(L(<HP>EEBLBG=>I>G=>GM:G=;KBG@LMHHNKH:K=>QM>GLBO>F:G:@>F>GM>QI>KB>G<>BGMA>M>KMPH
:G=:A:E?=><:=>LH?>QI>KB>G<>PHKDBG@?HK@EH;:EM>L?H=HGBGGHO:MBHG:G=
A>KPBMA:?BKFNG=>KLM:G=BG@H?NMH=>LD^LFBLLBHG;NLBG>LL:G=M>KR>:KLH?L>KOB<>:L:G>Q>
H??B<>K:M+HERKM>LBGPE>MM
+:A>KPBMAMA>>Q>
GL:MBHGDGHPE>=@>G><>LL:KRMHL>KO>:LA:BKH?HNKHFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>


+I:E=:C%>AA><6C
<:P>G:8IDGH>C8:
P!C9:E:C9:CI
JID9:H@DBB>II::HJ9>I
(K(BEEB@:GL>KO>=:LAB>? Q>*??B<>KH?2>LM>KGB@BM:EHKIHK:MBHG:=:M:LMHK:@>LB=>GM?KHF(:KK+K>OBHNLER(K(BEEB@:GL>KO>=:LMA>AB>?!BG:GKH?#BM:/>L[#"./\	?KHFMH:G=:L#"./^LAB>? Q>*??B<>K?KHF
MHPA>G2>LM>KGB@BM:E:=#"./!KHF%:GN:KRMH.>IM>F;>K(K(BEEB@:GL>KO>=:L2>LM>KG
B@BM:E^LAB>?!BG:GK:?M>KL>KOBG@BGHMA>KL>GBHK?BG:G<>KHE>L:M2>LM>KGB@BM:E?KHF.>IM>F;>KMH%:GN:KR
!KHFIKBEMH.>IM>F;>KA>A>E=O:KBHNL?BG:GLH?BG:LBG@K>LIHGLB;BEBMR:M>EE
$G<:G=P:L>FIEHR>=:M+KB<>2:M>KAHNL>?HKR>:KLIKBHKMHCHBGBG@>EE(K(BEEB@:GAHE=L::EHKH?.G<>
=>@K>>BG<*ABH.M:M>0GBO>KLBMR(K(BEEB@:GA:LL>KO>=HGMA>;H:K=H?=BK>L$G<
LBG<>%:GN:KR:G=L>KO>=HGMA>;H:K=H?=BK>LM>KGB@BM:EHKIHK:MBHG?KHF%:GN:KRMH(:R
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(K(BEEB@:GBLBG=>I>G=>GM:G=A:LHO>KR>:KLH?>Q>HI>K:MBHG:E:G=?BG:G:=>KLABI>QI>KB>G<>BGMA>
M>QI>KB>G<>:M2>LM>KGB@BM:E:G=#"./BG:G=>Q>KHE>L
IKHOB=>LABFPBMA:LMKHG@NG=>KLM:G=BG@H?NMH=>LD^LBG=NLMKR;NLBG>LL:G=BGM>KG:MBHG:EHI>K:MBHG:EG@>L#BL
>QI>KB>G<>:L:!*:G= *IKHOB=>LABFPBMAMA>?BG:GGG><>LL:KRMHL>KO>HGHNKN=BMHFFBMM>>
$DGG>:%
&DGG>CG:8IDGH>C8:

P!C9:E:C9:CI
JID9:H@DBB>II::HDGEDG6I:DK:GC6C8:6C9&DB>C6I>C<=6>G
(L)HKKBG@MHGA:LHO>KR>:KLH?HI>K:MBG@>QI>KB>G<>BGM>:G=BGM>KG>M;NLBG>LL>L.A>GMER
L>KO>L:L:G:=OBL>K:G=BG:G*I>K:MBG@+:KMG>K<:I::= =@>:IBM:E:@KHPMA>JNBMR?BKFMA:MI:KMG>KLPBMAPHKE=
GMK>IK>G>NKL:G=>Q<>IMBHG:EM>LL>L(L)HKKBG@MHGP:L+K>LB=>GMH?>:R(:KD>MIE:<>L?KHF%NER
MH.>IM>F;>K:G=A>E=:GNF;>KH?L>GBHKF:G:@>F>GMKHE>L:M>:R?KHF%NERMH%NG>+KBHKMHCHBGBG@
>:R(L)HKKBG@MHGP:L+K>LB=>GM:G= *H?.AHIIBG@MH%NER+KBHKMHCHBGBG@
.AHIIBG@KO>=?KHFN@NLMMH%:GN:KRBGBMB:EER:L Q>1B<>+K>LB=>GMH?.F:EE
NLBG>LL:G=E:M>KBGMA>H??B<>H?MA> *:M$GMNBM$G<>?HK>$GMNBM(L)HKKBG@MHGL>KO>=BG:O:KB>MRH?>Q>
IHLBMBHGL:M">G>K:E E>K:
R>:KI>KBH=PHKDBG@BG:;KH:=K:G@>H?BG=NLMKB>L:G=;NLBG>LL>L(L
)HKKBG@MHGA:LL>KO>=HGMA>;H:K=LH?=BK>.>IM>F;>KHE@:M>
+:EFHEBO>LBG<>.>IM>F;>K
:G=#N;.IHMLBG<>.>IM>F;>K+K>OBHNLERLA>L>KO>=HGMA>;H:K=LH?=BK>GM;KBM>$G<?KHFIKBE
MHN@NLMB@HFF>K<>?KHF(:K;KN:KRNGMBEBMP:L:=
;R//BG%NER'N<:L?BEF?KHF%NG>NGMBEBMP:L:=;RBLG>RBG><>F;>K(<?>>$G<?KHF
><>F;>KNGMBEBMP:L:=;R$GM>EBG!>;KN:KR:G=.AHIIBG@F;>KNGMBEBMP:L:=
;R>:RBGN@NLM
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(L)HKKBG@MHGBLBG=>I>G=>GMA:L>QM>GLBO>>QI>KB>G<>BGHGEBG>K<>.::.:G=O:EN:;E>F:G:@>F>GM>QI>KB>G<>BG
MA>M>L#>K?HNK=><:=>LH?;NBE=BG@;NLBG>LL>L:G=:=:IMBG@MH:G=<:IBM:EBSBG@HG
K:IB=M>F>GMIKHOB=>(L)HKKBG@MHGPBMA:NGBJN>I>KLI>#>K>Q>:G=;H:K=>QI>KB>G<>L
A:O>IKHOB=>=A>KPBMAMA>@HO>KG:G<>LDBEELK>JNBK>=MHL>KO>HGHNKH:K=:G=:LA:BKH?HNKHKIHK:M>
"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>


:IHN*6;6:A
<:P>G:8IDGH>C8:
P!C9:E:C9:CIJCI>A%6N

!CI:G>B=>:;>C6C8>6A';;>8:GDGB:GJ9>I=6>G
(L-:?:>EA:LHO>KR>:KLH?>Q>?BG:GQI>KB>G<>BGMA>M>EA:LL>KO>=:L
NMH=>LD^L$GM>KBFAB>?!BG:GKLBG<>(:R:G=P:LIK>OBHNLERHNKN=BMHFFBMM>>A:BK+K>OBHNLER
(L-:?:>EFHLMK><>GMERL>KO>=:LAB>?/K:GL?HKF:MBHG*??B<>K:M"H:==R$G<:G$GM>KG>M=HF:BGK>@BLMK:K:G=P>;
AHLMBG@F;>K.A>L>KO>=:L+KBGKH?IIE>$G<?KHF%:GN:KR
MH*K:G=:LBML1B<>+K>LB=>GM:G=HKIHK:M>HGMKHEE>K?KHFN@NLMNGMBE*K!KHFIKBE
MH.>IM>F;>K(L-:?:>EL>KO>=:L1B<>+K>LB=>GMHKIHK:M>HGMKHEE>K:G=+KBGKH?
BLFL$G<:G=A>E=MA>IHLBMBHGH?1B<>+K>LB=>GMHKIHK:M>!BG:G<>:MBLIM>F;>KMHN@NLM
!KHF><>F;>KMHIKBE(L-:?:>EP:LMA> Q>1B<>+K>LB=>GMAB>?!BG:GK:G=AB>?
=FBGBLMK:MBO>*??B<>KH?LI>KH?KK>E:MBHGLABIIHKM:EL!KHFIKBEMH
)HO>F;>K(L-:?:>EP:L.>GBHK1B<>+K>LB=>GM:G=!*H? L<:E:M>$G<:G>GM>KIKBL>>
K<>:IIEB<:MBHG
L>KOB<>IKHOB=>K!KHFMH(L-:?:>EA>E=:GNF;>KH?L>GBHKIHLBMBHGL:M.BEBKG:MBHG:EHKI
[."$\	K<:K>>K:M."$:L.>GBHK1B<>+K>LB=>GM:G=AB>?!BG:GK+KBHKMH."$(L-:?:>EA>E=
L>GBHKF:G:@>F>GMIHLBMBHGLBG?BG:G<>PBMA.NG(BFL$G<:G=IIE>HFINM>KL(L-:?:>E;>@:GA>K<:K>>KPBMA
KMANK4HNG@HFI:GR(L-:?:>EA:LL>KO>=HGMA>;H:K=H?=BK>%NER+KHH?IHBGM
$G<?KHF!>;KN:KRMAKHN@A*K:G=&BG:QBL$G<LBG<>!>;KN:KR.A>IK>OBHNLERL>KO>=HGMA>;H:K=L
H?=BK>EHGHKIHK:MBHG?KHF)HO>F;>KMH%NG>"H:==R$G<?KHF(:RMH(:R
.ANMM>K?ER$G<?KHF%NG>MH.>IM>F;>K:G=+:EF.HNK<>$G<?KHFIKBEMH)HO>F;>K
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(L-:?:>EA:LFHK>MA:GR>:KLH?>Q>?BG:GQI>KB>G<>BGMA>M>K>QI>KB>G<>:M"H:==R
IIE>:G=BLK?BG:G<>:G=>Q>KHE>LIKHOB=>LA>KPBMA:LMKHG@NG=>KLM:G=BG@H?NMH=>LD^LBG=NLMKR
;NLBG>LL:G=BGM>KG:MBHG:EHI>K:MBHG:EG@>L
*6B>*6=>B
<:P>G:8IDGH>C8:P!C9:E:C9:CI
JID9:H@DBB>II::HDBE:CH6I>DC6C9 JB6C*:HDJG8:H
-:FB-:ABFA:LHO>KR>:KL^>QI>KB>G<>BGMA>M>L>KO>L:LAB>? Q>*??B<>KH?%NGBI>K
)>MPHKDL:G=BL:F>F;>KH?%NGBI>K^LH:K=H?BK>=%NGBI>KBG%:GN:KR:G=P:L:IIHBGM>=:L
AB>? Q>*??B<>KBG)HO>F;>K+KBHKMH;>BG@:IIHBGM>=MH *(K-:ABFL>KO>=:L Q>1B<>+K>LB=>GM
:G=">G>K:E(:G:@>KH?MA>%NGBI>K>O>EHIF>GM:G=$GGHO:MBHG%$	HK@:GBS:MBHGHO>KL>>BG@MA>GMBK>IKH=NKE>:=>KLABIIHLBMBHGLA>E=:M%NGBI>KBG Q>1B<>+K>LB=>GM:G=">G>K:E(:G:@>KH?
+E:M?HKF.RLM>FLBOBLBHG?HKKHNMBG@:G=LPBMGBHK1B<>+K>LB=>GMH?MA> =@>:G=@@K>@:MBHGNLBG>LL0GBM
 0	:G=1B<>+K>LB=>GM:G=">G>K:E(:G:@>KH? 0
(K-:ABF>:KG>=::EHKH?.G<>=>@K>>BG>E>G@BG>>KBG@?KHFMA>0GBO>KLBMRH?/HKHGMH:G=:(:LM>KH?
.G<>=>@K>>BG>E>G@BG>>KBG@?KHF.M:G?HK=0GBO>KLBMR(K-:ABFBL:F>F;>KH?$   
)J6A>;>86I>DCH6C9DCIG>7JI>DCH
(K-:ABFBLBG=>I>G=>GM:G=A:LFHK>MA:GR>:KL^>QI>KB>G<>BGMA>M>MA:GR>:KL^
>QI>KB>G<>BGE>:=>KLABIIHLBMBHGL#BLAB>? Q>*??B<>K>QI>KB>G<>:M%NGBI>KIKHOB=>LABFPBMAKL>QI>KB>G<>:G=:LMKHG@NG=>KLM:G=BG@H?NMH=>LD^LBG=NLMKR;NLBG>LL:G=@EH;:E:G==HF>LMB<HI>K:MBHG:EG@>L#BL
>QI>KB>G<>:L: *IKHOB=>LABFPBMAMA>>QI>KB>G<>G><>LL:KRMHL>KO>HGHNKHFI>GL:MBHG:G=#NF:G->LHNK<>L
HFFBMM>>


!&'*%,!'&'-,'-*0-,!.'!*+
/A>?HEEHPBG@L>ML?HKMA<>KM:BGBG?HKF:MBHG:LH?(:RK>@:K=BG@HNK>Q>H??B<>KL
&6B:
<:
(DH>I>DC
G=K>PG:@GHLM

+K>LB=>GM:G=AB>? Q>*??B<>K
>MLR-:?:>E

$GM>KBFAB>?!BG:GK
.M>O>(ENF

 Q>1B<>+K>LB=>GM:G=AB>?*I>K:MBG@*??B<>K
-NMAGG&>>G>

 Q>1B<>+K>LB=>GMHKIHK:M>??:BKLAB>?'>@:E*??B<>KHKIHK:M>
.>M:KR
->;><<:+>:K<>

 Q>1B<>+K>LB=>GMAB>?+>HIE>*??B<>K
C9G:LC6=NMH=>LDBG.>IM>F;>K:G=A:LL>KO>=:L+K>LB=>GM:G=AB>? Q>*??B<>KLBG<>
%NG>!HK?NKMA>K;BH@K:IAB<:EBG?HKF:MBHGL>>[Z$G?HKF:MBHG;HNM*NKBK>
:IHN*6;6:ACHBG>=NMH=>LDBG(:R:G=L>KO>L:L$GM>KBFAB>?!BG:GK!HK?NKMA>K;BH@K:IAB<:E
BG?HKF:MBHGL>>[Z$G?HKF:MBHG;HNM*NKBK>
+I:K:C%
AJBCHBG>=NMH=>LDBG%:GN:KR:G=A:LL>KO>=:L Q>1B<>+K>LB=>GM:G=AB>?*I>K:MBG@
*??B<>KLBG<>)HO>F;>K#>IK>OBHNLERL>KO>=:L Q>1B<>+K>LB=>GM:G=AB>?->O>GN>*??B<>K?KHF><>F;>K
MAKHN@A%:GN:KR:G=:L1B<>+K>LB=>GM:G=AB>?->O>GN>*??B<>K?KHFN@NLMMH><>F;>K(KENF
L>KO>=:L Q>1B<>+K>LB=>GM2HKE=PB=>!B>E=*I>K:MBHGL?KHF><>F;>KMH)HO>F;>K:G=:L.>GBHK1B<>
+K>LB=>GM2HKE=PB=>!B>E=*I>K:MBHGL?KHF.>IM>F;>KMH><>F;>K(KENFL>KO>=:L.>GBHK1B<>+K>LB=>GM
2HKE=PB=>.:E>L:G=.>KOB<>L?KHF!>;KN:KRMH.>IM>F;>K!KHF%:GN:KRMH!>;KN:KRA>L>KO>=:L
.>GBHK1B<>+K>LB=>GMH?F>KB<:L.:E>L+KBHKMHMABLIHLBMBHGENFP:L Q>1B<>+K>LB=>GMH?.:E>L:G=<F>GM?HK+:K:@H$G<ENF:ELHA>E=IHLBMBHGL:M(>GMHK"K:IAB<>GMERL>KOBG@:L1B<>+K>LB=>GMH?
F>KB<:LL:E>L>?HK>CHBGBG@(>GMHK"K:IABA>E=>G@BG>>KBG@:G=L:E>LIHLBMBHGL:M)-HKIHK:MBHG:G==O:G<>=
(BOB<>L
*JI=CC#::C:CHBG>=NMH=>LDBG%:GN:KR:G=A:LL>KO>=:L Q>1B<>+K>LB=>GMHKIHK:M>??:BKLAB>?
'>@:E*??B<>KHKIHK:M>.>M:KRLBG<>(:R(L&>>G>IK>OBHNLERL>KO>=:L.>GBHK1B<>+K>LB=>GMAB>?'>@:E
*??B<>K">G>K:EHNGL>EHKIHK:M>.>M:KRH?0GBMR/>L[0GBMR\	?KHF.>IM>F;>KMH%:GN:KR+KBHK
MHCHBGBG@0GBMR(L&>>G>L>KO>=:L1B<>+K>LB=>GMLLBLM:GM">G>K:EHNGL>E:G=LLBLM:GM.>M:KRH?NMH=>LD?KHF
MH:G=A:=L>KO>=BGO:KBHNLE>@:EIHLBMBHGL:MNMH=>LDLBG<>N@NLM>?HK>CHBGBG@NMH=>LD(L&>>G>
P:L:M>R:M(HKKBLHG!H>KLM>K''+
*:7:886(:6G8:CHBG>=NMH=>LDBG*K:G=A:LL>KO>=:L Q>1B<>+K>LB=>GMAB>?+>HIE>*??B<>KLBG<>
%:GN:KR(L+>:K<>IK>OBHNLERL>KO>=:L1B<>+K>LB=>GM+>HIE>+E:<>L?KHF%NG>MH><>F;>K:G=:L
.>GBHK#-BK>!NGIM>F;>KMAKHN@A(:R(L+>:K<>L>KO>=
:L#-BK>KKBMHKR.:E>L?KHF!>;KN:KRMH.>IM>F;>K:G=:LLB:+:KMAKHN@A%:GN:KR+KBHKMHCHBGBG@NMH=>LD(L+>:K<>P:LMA>#-BK>K:MBHGL-:G=
 G@BG>>KBG@?HKRLHG'BFBM>=?KHF><>F;>KMH.>IM>F;>K(L+>:K<>:ELHIK>OBHNLERA>E=E>:=>KLABIIHLBMBHGL
:M(B<>GMER:LMA>LB:+::=>K?HK(BK:G=*GEBG>
/A>K>BLGH?:FBERK>E:MBHGLABI:FHG@:GRH?HNK=BK>Q>H??B<>KL
!+$1*'*%,!&+
 :KHNKH:K=AHE=LHFFBMM>>:G=H:K=F>>MBG@LM>:KERH:K=F>>MBG@MBF>BLL>M:LB=>?HKMA>
BG=>I>G=>GM=BK>>MPBMAHNMF:G:@>F>GMIK>L>GM==BMBHG:E>Q>L>LLBHGL:K>A>E=:LG>>=>=$G:==BMBHGMHMA>
JN:KM>KERF>>MBG@LMRIB<:EERMA>K>:K>HMA>KK>@NE:KERL=NE>=>F>>MBG@L>::K
NKBG@?BL<:ER>:KMA>H:K=A>E=:MHM:EH?>B@AMF>>MBG@LBG@NE:KERL=NE>=:G=LI>>MBG@L	
:G=BMLMAK>>LM:G=BG@>L:GN=BMHFFBMM>>:HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>:G=:HKIHK:M>
"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>	A>E=:MHM:EH?F>>MBG@L :G=>=H?MA>MHM:E
GNF;>KH?F>>MBG@LH?MA>H:K=:G=>LH?PABHKLA>P:L:F>F;>K=NKBG@MA>I>KBH=A>HKLA>L>KO>==NKBG@
?BL<:ER>:K


BK>>G=;NMGHMK>JNBK>=MH:MM>G=MA>GGN:E(>>MBG@H?.MHKLEEH?HNKMA>GLBMMBG@=BK>G=>=MA>GGN:E(>>MBG@H?.MHKL
/A>?HEEHPBG@M:;E>L>ML?HKMAMA>GNF;>KH?F>>MBG@LA>E=;RHNKH:K=:G=MA>>L=NKBG@?BL<:ER>:K
D6G9
J9>I
DBE:CH6I>DC6C9
 JB6C*:HDJG8:H
DGEDG6I:
DK:GC6C8:6C9
&DB>C6I>C<
)NF;>KH?F>>MBG@LA>E=BG?BL<:ER>:K




'*'%%!,,+
/HLNIIHKM>??>@HO>KG:G<>HNKH:K==>E>@:M>L<>KM:BGK>LIHGLB;BEBMB>LMHBML>LPAHK>IHKMHG
MA>BK:LMHMA>H:K=/A>L>>LA:O>MA>:NMAHKBMRMH>G@:@>E>@:EEHKHMA>K:=OBLHKLHKR=>>F:IIKHIKB:M>MH<:KKRHNMMA>BKK>LIHGLB;BEBMB>L
/A>M:;E>;>EHPIKHOB=>LLNFF:KRBG?HKF:MBHG:;HNM>:>F>F;>KLABI:G=BG=>I>G=>G<>=NKBG@
?BL<:ER>:K?HEEHP>=;R:LNFF:KRH?>:>^LK>LIHGLB;BEBMB>L :>A:L:K=>LLIHGLB;BEBMB>LPAB?HNG=HGHNKP>;LBM>:MAMMILBGO>LMHKL:NMH=>LD
@HO>KG:G<>AB@AEB@AML
&6B:
!C9:E:C9:CI
DBB>II::H
J9>IDBB>II::
DBE:CH6I>DC6C9 JB6C
*:HDJG8:HDBB>II::
DGEDG6I:DK:GC6C8:6C9
&DB>C6I>C<DBB>II::
G=K>PG:@GHLM
.M:GE:LBG@



->B=!K>G$KOBG@


(:KR/(<HP>EE


.M>IA>G(BEEB@:G



'HKKB>()HKKBG@MHG


>MLR-:?:>E



-:FB-:ABF


)HG
 Q>A:BKH?H:K=
HFFBMM>>A:BK
(>F;>K
!BG:GKM:L=>?BG>=BGMA>KNE>LH?MA>. 

(L-:?:>EBLGHPHNK$GM>KBFAB>?!BG:GKBLGHMGMER:GBG=>I>G=>GM=BK>K:F>F;>KH?MA>N=BM
HFFBMM>>
J9>IDBB>II::
/A>N=BMHFFBMM>>HO>KL>>LNMH=>LD^L?BG:GF>GMLPBMAHNK:<IHKMBG@IKH<>LL>LHNKLRLM>FH?BGM>KG:E:<F>GMH?K>E:M>=KBLDL


/A>N=BMHFFBMM>>^LK>LIHGLB;BEBMB>L:ELHBG
X
L>E>GL:MBHG>G@:@>F>GMK>M>GMBHGM>KFBG:MBHG:G=L>KOB<>LH?HNKBG=>I>G=>GMK>@BLM>K>=IN;EB<
:<OB>PH?BMLBG=>I>G=>G<>
X
K>OB>PBG@PBMAF:G:@>F>GM:G=HNKBG=>I>G=>GMK>@BLM>K>=IN;EB<:<:=>JN:FH?
BGM>KG:E?BG:GOB>PBG@HNKL:G=MA>:IIEB<:MBHGH?:<L
X
K>OB>PBG@HNKMK>:LNKRIHEBL:G=M:QIHLBMBHGL
X
HO>KL>>BG@MA>I>K?HKF:G<>H?HNKBGM>KG:E:N=BM?NGLM:;EBLABG@:G=HO>KL>>BG@PBMAMA>IKH<>=NK>L?HKA:G=EBG@@:K=BG@:<KG:E
:<KLBG=NK>L?HKGMB:E:GHGRFHNLLN;FBLLBHGH?KGL;R
>FIEHR>>LK>@:K=BG@:<KL:G=
X
HO>KL>>BG@HNKF:G:@>F>GMH?KL>E:MBG@MH?BG:GKG:EKL
DGEDG6I:DK:GC6C8:6C9&DB>C6I>C<DBB>II::
*NKHKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>HO>KL>>LHNK@HO>KG:G<>IKBGL:G=IHEBL:L
P>EE:LMA>IKH<>LLMHB=>GMB?R:G=GHFBG:M>JN:EB?B>=BG=BOB=N:EL?HKH:K=F>F;>KLABI:G=H:K=:G=>>O:EN:MBHGL
/A>HKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>^LK>LIHGLB;BEBMB>LBG
X
=>O>EHIBG@@>G>K:EKB:K>@:K=BG@MA>JN:EB?B<:MBHGL:G=L>E>F;>KLH?MA>H:K=
X
=>M>KFBGBG@LDBEELKBLMBQI>KB>G<>L=>LBK>=?HK<:G=B=:M>L:G=HO>KL>>BG@=BK>LLBHGIE:GGBG@
X
K>G=BG@<:G=B=:M>L?HK>E>H:K=
X
=>O>EHIBG@HO>K:EE@HO>KG:G<>@NB=>EBG>L
X
I>KBH=B<:EERK>OB>PBG@F:MM>KLK>E:M>=MHHNKIHEBL:G=IK:LKGBG@>GOBKHGF>GM:ELHKG:G<>
[ ."\	BGBMB:MBO>LIHEBMB<:EL
X
HO>KL>>BG@MA>I>K?HKF:G<>:G=>O:EN:MBHGH?MA>H:K=:G=BG=BOB=N:E=BK>OB>PBG@:G=F:DBG@K>G=:MBHGLK>@:K=BG@=BK>F:G=:M>LH?H:K=>L
DBE:CH6I>DC6C9 JB6C*:HDJG8:HDBB>II::
/A>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>HO>KL>>LMA>GL:MBHG:G=;>G>?BML?HKHNK>Q>H??B<>KL
K>G=LHNK *^LGL:MBHGMHMA>BG=>I>G=>GMF>F;>KLH?MA>H:K=?HK:IIKHO:E:G=@K:GMLLMHQ>H??B<>KL:G=GHG
>Q>>FIEHR>>LNG=>KHNKLMHFIEHR>>=BK>F>F;>KLH?MA>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>:K>GHM>EB@B;E>MH
I:KMBBGNMH=>LD^L=BLMBHG:KR>FIEHR>>LMH:K-.0LP>K>@K:GM>=BG%NG>MH:EE
HNKGHG
>FIEHR>>=BK>BK>GL:MBHG+HEBKMA> JNBMR$G<>GMBO>
+E:G
/A>HFI>GL:MBHG:G=#NF:G->LHNK<>HFFBMM>>^LK>LIHGLB;BEBMB>L:ELHBG
X
K>OB>PBG@:G=:IIKHOBG@MA>@H:EL:G=H;C>LK>E>O:GMMHHNK *:G=>Q>H??B<>KGL:MBHG
X
>O:EN:MBG@ *:G=>Q>H??B<>KI>K?HKF:G<>
X
K>OB>PBG@>Q>:G=E>:=>KLABI=>O>EHIF>GMIHEBL:G=IK:L
X
K>OB>PBG@:G=:=FBGBLM>KBG@NMH=>LD^LOB>PBG@LN<<>LLBHGIE:GL?HKHNK *:G=HMA>KL>GBHKF:G:@>F>GM
X
I>KBH=B<:EERK>OB>PBG@F:MM>KLK>E:M>=MHANF:G<:IBM:EF:G:@>F>GM
X
HO>KL>>BG@F:MM>KLK>E:MBG@MHLMHK:IIKHO:EH?>Q>GL:MBHGBGL
:G=
X
HO>KL>>BG@MA>F:G:@>F>GMH?KBLDL:LLH=PBMAHNKGL:MBHGIHEBL:G=IKH@K:FL
$!&)-&,+,!'&
*('*,+
.> QJNBK>LHNK=BK>Q>H??B<>KL:G=I>KLHGLPAHHPGFHK>MA:GH?
:K>@BLM>K>=JNBMRL>LMH?BE>K>IHKMLH?HPG>KLABIHG!HKF:G=LBGHPG>KLABIHG!HKFHKPBMA
MA>. .NQ>H??B<>KL=BK>KL:ELH:K>K>JNBK>=;R. KNE>LMH?NKGBLANLPBMALH?:EE
.>R?BE>
:L>=LHE>ERHGHNKK>OB>PH?MA>LH?LNIHKML?NKGBLA>=MHNL:G=PKBMM>GK>IK>L>GM:MBHGLMA:MGHHMA>KK>IHKML
P>K>K>JNBK>=MH;>?BE>=P>;>EB>O>MA:M:EEK>IHKMLP>K>?BE>=HG:MBF>ER;:LBL


''-+!&++'&-,&'', !+
$G:==BMBHGP>A:O>A:=:EHG@LM:G=BG@H=>H?NLBG>LLHG=NFIEHR>>L:LP>EE:L:H=>H?
 MABGBHK Q>:G=!BG:GKLBGQ>H??B<>KIKBGK
IKBGK:EEL>GBHKOB<>IK>LB=>GML:G=:EEBG=BOB=N:ELK>IHKMBG@MHHNKIKBGKMH>GLNK>
MA:MHNK;NLBG>LLBL=BG:GMERE>@:E:G=>MAB<:EF:GG>K/A>L>L:K>K>OB>P>=I>KBH=B<:EER:G=NI=:M>=:L
:IIKHIKB:M>*NKGMH=>H?NLBG>LLHG=NH? MABGBHK Q>:G=!BG:GKL:K>
:O:BE:;E>HGHNKP>;LBM>:MAMMILBGO>LMHKL:NMH=>LD
@HO>KG:G<>AB@AEB@AML2>PBEEIHLMBGMA>$GO>LMHK
->E:MBHGLL>;LBM>:GR:F>G=F>GMMHHNKH=>H?NLBG>LLHG=NH? MABGBHK Q>:G=
!BG:GKL:LP>EE:L:GRP:BO>KLH?MA>L>H=>LMA:M:K>K>JNBK>=MH;>=BL=;RMA>KNE>LH?MA>. HKMA>
):L=:J
!,%

0-,!.'%(&+,!'&
DBE:CH6I>DC>H8JHH>DC6C9C6ANH>H
/AKHN@AHNMMABL:GGN:EK>IHKMMA>BG=BOB=N:ELBG=BGMA>.NFF:KRHFI>GL:MBHG/:;E>;>@BGGBG@HGI:@>:K>
K>?>KK>=MH:LHNK[G:F>=>Q>H??B<>KL\HK[) *L\!HK?BL<:ER>:KHNK) *LP>K>
X
G=K>PG:@GHLMAB>? Q>*??B<>K:G=+K>LB=>GM
X
>;HK:A'EB??HK=?HKF>K Q>1B<>+K>LB=>GM:G=AB>?!BG:GK:G=GMAB>?.MK:M>@R*??B<>K
X
.M>O>G(ENF Q>1B<>+K>LB=>GM:G=AB>?*I>K:MBG@*??B<>K
X
-NMAGG&>>G> Q>1B<>+K>LB=>GMHKIHK:M>??:BKLAB>?'>@:E*??B<>K:G=HKIHK:M>.>M:KR
X
->;><<:+>:K<> Q>1B<>+K>LB=>GM:G=AB>?+>HIE>*??B<>K
/A>BG?HKF:MBHGBGMABL=BLLI>KLI>:G=G:KK:MBO>:G:ERLBLK>E:MBG@MH:G=LAHNE=;>K>:=:EHG@PBMA
MA>>Q>GL:MBHGM:;E>L;>@BGGBG@HGI:@>
*NKHFI>GL:MBHGBLL:GHO>KOB>PH?HNK;NLBG>LLI>K?HKF:G<>BG?BL<:ER>:K
AB@AEB@AMLMA>D>RGML:G=LMKNH?HNK>Q>GL:MBHGIKH@K:F=BLLMA>IKBGLNG=>KERBG@HNK
GL:MBHGIHEBL:G=IK:L:G=:==K>LL>LHMA>KF:MM>KLP>;>EB>O>>QIE:BG:G==>FHGLMK:M>HNKI>K?HKF:G<>
;:L>=
GL:MBHGIABEHLHIAR

M:8JI>K:+JBB6GN
>H86A1:6G+IG6I:<>8(G>DG>I>:H6C9(:G;DGB6C8: ><=A><=IH
NMH=>LD>FIHP>KLBGGHO:MHKLMH:O>MA>G>PIHLLB;E>=>EBO>KBG@M>G:;E>LHNKKLMH:O>
;>MM>KHNML?HKMA>BKIKH=NLL>L:G=MA>PHKE=$G?BL<:ER>:KP>=>EBO>K>=K>O>GN>:G=HI>K:MBG@
BGPABE>F:BGM:BGBG@A>:EMAR?K>><:LA?EHPMAKHN@AMA>?BKLMR>:KH?HNKMK:GLBMBHG?KHFNI
?KHGMMH:GGN:E;BEEBG@L?HK
FNEMB
R>:KFHLMLB@GB?B<:GM?K>><:LA?EHPA>:=PBG=L?KHFMABLMK:GLBMBHG:K>GHP;>ABG=NLPAB:GLHNK
?K>><:LA?EHPK>:=BMLMKHN@A=NKBG@?BL<:E:G=PBEEF>;NBE=HO>KMA>G>QM?>PR>:KL
2>:O>=LMKHG@?BG:GMBMBO>I>K?HKF:G<>BG?BL<:E=>LIBM>F:HIHEBMB<:E
K>E:M>=A>:=PBG=L.>O>K:E?:=MHHNKI>K?HKF:G<>BGG>P:EK:M>LK>LBEB>GMG>P;NLBG>LL
@KHPMA:G=>QI:GLBHG?KHF:E:K@>K>G>P:EGM>KIKBL>;NLBG>LL:@K>>F>GMLPAB=NI
?KHGMK>O>GN>
*NKK>LBEB>G<>L?KHFHNKLN;LLLFH=>E:G=HNKIKH=NK=BO>KLB?B<:MBHGPABL
@KHPMA:K>GMK>@BHGL:G=BG=NLMKB>LBL=:G=?H=>Q>@B<=>IEHRF>GMH?<:IBM:EMAKHN@A
MA>>PBEE=KBO>>O>G@K>:M>KHI>K:MBHG:EO>EH??BGLDPAB>NI?NKMA>K
K>LHNK<>LMHBGO>LMBGHNKBG=NLMKRLBGF>GM
RBGMKH=NPMK:GL:EMH>G@:@>FHK>=BK>KL:G=LHENMBHGIKHOB=>KLP>:K>
:IIKH:?BG:EIA:L>H?FH=>KGBSBG@HNK@H
MH
F:KD>MFHMBHGPAB=NI=:MBG@HNKBG?K:LMKNK>MBKBG@
HE=LRLM>FL:G=;NLBG>LLFH=>EL:G=GNKMNKBG@FHK>=BK>E:MBHGLABILPBMAHNKKL:G=>F2>:K>:ELH
NG=>KM:DBG@:FNEMB
R>:KIKH<>LLMH>OHEO>HNKIKH=NLHENMBHGLPBMABG:G=;>MP>>GHNKBG=NLMKRK>=;RLA:K>=IE:M?HKFL>KOB<>L:G=PBMANMH=>LD^L:M:(H=>E:MBML/H@>MA>KMA>L>PBEE>G:;E>NMH=>LDHNK
KL:G=I:KMG>KLMH;NBE=FHK>O:EN:;E>=:M:
=KBO>G:G==IKH=NKOB<>L
 FIHP>KBG@BGGHO:MHKLPBMA=>LB@G
:G=
F:D>M>O>MA>G>PIHLLB;E>:ELH>G:;E>LMA>FMH;NBE=:G=
F:GN?:>??BGMER:G=LNLM:BG:;ER2>MH>Q>P>EEBGG@BG@MBF>L:G=EHHD?HKP:K=MHMA>R>:KL:A>:=
PBMA>QF>GM:G=HIMBFBLF
>H86A1:6G>C6C8>6A ><=A><=IH
X
/HM:EK>O>GN>P:L;BEEBHG:GBG:L>H?I>K<>GM:LK>IHKM>=:G=I>K<>GMHG:GO>GN>K>IK>L>GMLI>K<>GMH?MHM:E
X
"+HI>K:MBG@BGP:L;BEEBHG=MHFBEEBHGE:LMR>:K"+HI>K:MBG@F:K@BGP:L
I>K<>GMNII>K<>GM:@>IHBGM
X
/HM:EGHG
"+BG?KHFHI>K:MBHGLP:L;BEEBHG=MH;BEEBHGE:LMR>:K)HG
"+HI>K:MBG@
F:K@BGP:LI>K<>GM?E:M=MHMA>IKBHKI>KBH=	
X
:LA?EHP?KHFHI>K:MBG@:L=>:L>=MH;BEEBHG=MH;BEEBHGBG?BL<:E!K>><:LA?EHP
=>:L>=MH;BEEBHG=MH;BEEBHGBG?BL<:E	*NK?K>><:LA?EHP>QI>KB>G<>=:MKHN@A=NKBG@
?BL<:ER>:K=N>MHHNKMK:GLBMBHG?KHFNI
?KHGMMH:GGN:E;BEEBG@L?HKFNEMB
R>:K=G>MBGI>KLA:K>P:L=MHE:LMR>:K
X
)HG
"+=BENM>=G>MBGI>KLA:K>P:L=MHE:LMR>:K	
X

4/HM:E.A:K>AHE=>K->MNKGBL?KHF?BL<:ER>:K
4/HM:E.A:K>AHE=>K->MNKGBL?KHF?BL<:ER>:K

88888888888888888888888888888
	K>LNEMLBLIKHOB=>=BG+:KM$$$M>F[(:G:@>F>GMLBLLNEMLH?*I>K:MBHGL\[->:LNK>LMH)HG
"+!BG:G:LNK>L\
>H86A1:6GM:8JI>K:DBE:CH6I>DC ><=A><=IH
(6N:8>H>DCH76H:9DC(:G;DGB6C8:*:HJAIH
/A>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>MA>[HFFBMM>>\	;>EB>O>LMA:MMHM:EGL:MBHG?HKHNKG:F>=
>Q>H??B<>KLLAHNE=ER:EB@GPBMAI>K?HKF:G<> $G?BL<:ER>:KP>NL>=MA>?HEEHPBG@I>K?HKF:G<>F>MKBM>KFBG>MA>I>K?HKF:G<>
;:L>=I:RHNML?HKMA>) *L
!C8:CI>K:(GD8H
 Q>$G<>GMBO>+E:G $+	
/HM:E->O>GN>
)HG
"+$G?KHF*I>K:MBHGL
'HG@
/>KF$G<>GMBO>LZ+>K?HKF:G<>.A:K>
0GBML+.0	
/HM:E->O>GN>
!K>>:LA!EHP
->E:MBO>/.-:L=>?BG>=;>EHP	HO>K:G=R>:KL	
$G(:KHFFBMM>>F:=>MA>?HEEHPBG@=>M>KFBG:MBHGLK>E:MBG@MHMA>GL:MBHGH?HNK) *L;:L>=HG
HFI:GR^LI>K?HKF:G<>:@:BGLMMA>IK>
=>M>KFBG>=@H:EL/A>HFFBMM>>=B=GHMF:D>:GR=BLMBHG:KR:=CNLMF>GMLMHMA>
BG<>GMBO>I:RHNML


>H86A1:6G
M:8JI>K:!C8:CI>K:
(A6C*:HJAIH
:L>=HGHNK?BL<:ER>:K?BG:GLNEMLMA>HFFBMM>>=>M>KFBG>=MA:M;:L>=HG:MM:BGF>GM
H?MA>I>K?HKF:G<>F>MKBLD^L Q>$G<>GMBO>+E:G[ $+\	PHNE=;>?NG=>=
:M?HKHNK *:G=HMA>K) *L:MMA>>G=H??BL<:ER>:K
(:G;DGB6C8:+=6G:
-C>I*:HJAIH
!HK>:HFFBMM>>F>:LNK>=I>K?HKF:G<>;:L>=HGNMH=>LD^L:O>F>GMH?
H?MA>MHM:EK>O>GN>:G=?K>><:LA?EHPM:K@>ML>LM:;EBLA>=?HK?BL<:ER>:K:G=K>E:MBO>MHM:E
LMHKK>MNKG[/.-\	HO>KHG>
MPH
:G=MAK>>
R>:KI>K?HKF:G<>I>KBH=LK>LI>ER/A>
HFFBMM>><>KMB?B>=MA>:MM:BGF>GME>O>EL?HKI>K?HKF:G<>F>:LNK>L?HKMK:GLH?+.0L:P:K=>=
BGIKBEIKBE:G=IKBE
BE=6H>HDC.6G>67A:QI*>H@R(:G;DGB6C8:	6H:9M:8JI>K:DBE:CH6I>DC
*NK>Q>GL:MBHGIKH@K:F>FIA:LBS>LO:KB:;E>GL:MBHGPBMA;HMA:GGN:E:G=EHG@
M>KFI>K?HKF:G<>
GML$G?BL<:ER>:KH?HNK *^L:G=H?HMA>K) *L^MHM:EGL:MBHGP:LO:KB:;E>BGG:MNK>:G=[:M
KBLD\H?HNK *^L:G=H?HMA>K) *L^MHM:EGL:MBHG=H?EHG@
M>KF>JNBMR*NKBG<>GMBO>IKH@K:FL
K>P:K=LMKHG@:GGN:E?BG:GK:MBHG:EI>K?HKF:G<>:LP>EE:LK>E:MBO>/.-HO>KHG>
MPH
:G=MAK>>
R>:K
I>K?HKF:G<>I>KBH=L/A>EHPBEENLMK:M>MA>?BL<:ER>:KI:RFBQ;>MP>>G;:L>L:E:KR:G=M:K@>M>=LAHKM
:G=EHG@
M>KF>JNBMRGL:MBHG?HKHNK *:G=:EEHMA>K) *L
==BMBHG:EERMH=KBO>MA>:O>F>GMH?HNKD>RLMK:M>@B< GOBKHGF>GM:E.HKG:G<>[ ."\	IKBHKBMB>L
:KHNG=>GOBKHGF>GM:ELNLM:BG:;BEBMR:G=IABE:GMAKHIR:LP>EE:L=BO>KLBMRBGEHG@BG@HNK>Q>GL:MBHG
IKH@K:F:EEHPL?HKMA> *MHK>G=MHMA>HFFBMM>>:=CNLMF>GMLMH:P:K=L?HKMA>HMA>K) *L;:L>=HG ."
I>K?HKF:G<>"BO>GMA:MEHG@
M>KFBG<>GMBO>:P:K=L:K>MA>E:K@>LMGMH?) *GL:MBHG .":=CNLMF>GMLPBEE
@>G>K:EER?HJNBMR@K:GML/A>HFFBMM>>PBEEM:D>BGMH:< *^LK>G=:MBHGLPA>G=>M>KFBGBG@MA>?BG:E
:P:K=L?HKMA>HMA>K) *L:G=PBEE:ELHKMA>HO>K:EELL:G=HNMLHG ."PA>GBM=>M>KFBG>L
EHG@
M>KFBG<>GMBO>:P:K=L?HKMA> *
*GERPA>GP>LB@GB?B<:GMER>Q<>>=HNK ."@H:ELHK?:BEMH:O>MA>L>F>MKBEHG@
M>KFBG<>GMBO>:P:K=L:=CNLM>=
NIP:K=HK=HPGP:K=!HK?BL<:ER>:KMA> *:G=HFFBMM>>=MA:MMA>E>:=>KLABIM>:F^LI>K?HKF:G<>:EB@G>=
PBMA>QI>LLHG ."BGBMB:MBO>L:G=MA>K>?HK>:=CNLMF>GMLMH) *^LEHG@
M>KFBG<>GMBO>:P:K=LP>K>GHM
P:KK:GM>=
+6N	DC	(6N*:HJAIH6C9+ID8@=DA9:G'JIG:68=
NMH=>LD:G=MA>HFFBMM>>O:EN>MA>BGINMH?HNKLMHKL/A>HFFBMM>><:K>?NEERKLLMHK
?>>=;:OB>PH?HNK>Q>GL:MBHGIKH@K:FL=>LB@G:G=F>MKB>=;:=LMA>HFFBMM>>A:LF:=>BGK><>GMR>:KLMH:EB@GHNKIKH@K:FLPBMAHNK;NLBG>LLMK:GL?HKF:MBHGMMA>
GGN:E(>>MBG@H?MA>OHM>L<:LMHGHNKL:R
HG
I:RIKHIHL:EP>K>?:OHK:;E>K>?E>KLNIIHKM?HK
HNK>Q>GL:MBHGIKH@K:FL$G?BL<:ER>:KF>F;>KLH?HNKF:G:@>F>GMM>:F:G=BG<>KM:BGBGLM:G<>L
BG=>I>G=>GMF>F;>KLH?HNKH:K==HNKK>@NE:KHNMK>:=LMHKLK>IK>L>GMBG@:IIKHQBF:M>ER
H?HNKHNMLM:G=BG@LA:K>L*NKF:G:@>F>GMM>:F:G=BGLHF><:L>LHNKBG=>I>G=>GMA:BKF>MPBMAK>IK>L>GM:MBO>L?KHF
::G=I:LLBO>?NG=LMH=BL@RHNK>Q>:G=>FIEHR>>GL:MBHGIKH@K:FL<:IBM:E:EEH<:MBHGIKH@K>LL


HGHNKLNLM:BG:;BEBMRLMK:M>@RPHKD?HK<>=BO>KLBMR;H:K=MLLNLM:BG:;BEBMR:G=:;KH:=K:G@>H?HMA>K
 ."BLLN>L/ABLHNMK>:G:;E>=NLMH@:MA>K?>>=;:LD^LLMHK;:L>:L>=
HGMA>L>=BLHFFBMM>>?HNG=MA:MHNKLMHKL=MHLNIIHKMHNK>Q>GL:MBHGIKH@K:FL
:G=MA>:EB@GF>GM
DBE:CH6I>DCJ>9>C<(G>C8>EA:H
/A>HFFBMM>>;>EB>O>LMA:MNMH=>LD^L>Q>GL:MBHGIKH@K:FLAHNE=;>=>LB@G>=MH:MMK::G=
K>M:BGM:E>GM>=>Q>L:G=LAHNE=IKHOB=>:KB@HKHNL?K:F>PHKDMA:MBLMB>=MHLMHKK>MNKGLK?HKF:G<>
EHG@
M>KFLMK:M>@B<@H:EL:G=BG=BOB=N:EI>K?HKF:G<>/A>@>G>K:EGL:MBHGH;C>L:K>MH
X
->M:BGMA>AB@A>LM<:EB;>KH?>Q>LMAKHN@AMBMBO>K>P:K=L
X
(HMBO:M>>Q>H??B<>KLMH:O>;NLBG>LL:G=?BG:GK>P:K=L?HKLAHKM
:G=EHG@
M>KFI>K?HKF:G<>:G=
X
EB@GK>P:K=LPBMALMHKO:EN>:MBHG
2BMABGMABL?K:F>PHKDMA>MHM:EGL:MBHG?HK>:Q>H??B<>KO:KB>L;:L>=HGFNEMBIE>=BF>GLBHGL
X
2A>MA>KNMH=>LD:O>LBMLLAHKM
M>KF:G=EHG@
M>KF?BG:GL
X
NMH=>LD^L/.-K>E:MBO>MHLBGMA>)HKMAF>KB<:G/>$G=>Q
X
NMH=>LD^LIKH@K>LLMHP:K=LBML ."H;C>L
X
/A>LI>L:G=K>LIHGLB;BEBMB>LH?MA>H??B<>K
X
 :K^LLDBEEL<:I:;BEBMB>LK?HKF:G<>
X
$GM>KG:EI:R:EB@GF>GMK:MBHGL:G=
X
->M>GMBHGK:MBHGL
$:69>C<DBE:CH6I>DCDK:GC6C8:(G68I>8:H
NMH=>LD^L>Q>GL:MBHGH;C>L:K>LNIIHKM>=;RIHEBL:G=LMKHG@@HO>KG:G<>IK:LMA:M:EB@G
>Q>L^BGM>K>LMLPBMAMA>BGM>K>LMLH?HNKLMHKL.HF>H?MA>IKH@K:F^LFHLMGHM:;E>?>:MNK>L:K>AB@AEB@AM>=BGMA>
M:;E>:G=LNFF:KBS>=;>EHP
/=6I/:D
/=6I/:D&DID
  G@:@>BGKH;NLMLMHKHNMK>:=@BG@IE>=@BG@HKMK:=BG@BGNMH=>LD=>KBO:MBO>
L>L
 /B>:LB@GB?B<:GMI>K<>GM:@>H?) *MHM:EI:RMH:O>F>GM
H?L:G=LMHKO:EN>:MBHG
 ->IKB<>LMHK?HKF:G<>
;:L>=<:LA:G=
>JNBMRBG<>GMBO>GL:MBHG
 *??>K>Q>;>G>?BMLMA:M=B??>K?KHFMAHL>H??>K>=MHHNK
HMA>KL:E:KB>=>FIEHR>>LHK>Q<>LLBO>I>KJNBLBM>L
 ->JNBK>LB@GB?B<:GMLMHKLABIAHE=BG@L
 0L>?BQ>=
M>KF>FIEHRF>GM:@K>>F>GML
 $G:GMBO>IKH@K:FL
 +KHOB=>=HN;E>
MKB@@>KBGF>GMLPBMA
GH>QM:Q@KHLL
NI
  GLNK>>??>KBLDF:G:@>F>GM
 ->ERHG:GBG=>I>G=>GMGL:MBHG>:G=>G@:@>
:GBG=>I>G=>GMGL:MBHGDC	+:II>C<(GD8:HH
/A>HFFBMM>>K>OB>PL:G=:IIKHO>L:EEGMLH?>:Q>H??B<>K^LGL:MBHG
'(6N:8>H>DCH


/AKHN@AHNMMA>R>:KMA>HFFBMM>>:G=HMA>KBG=>I>G=>GMF>F;>KLH?MA>H:K=BGA:BKK>OB>PMA>
I>K?HKF:G<>H?:G=IKHOB=>?>>=;:@NE:KERL=NE>=F>>MBG@L:G=MAKHN@ABG?HKF:E=BLHFFBMM>>F>>ML:G==BLLPBMAHMA>KBG=>I>G=>GMF>F;>KLH?MA>H:K=MA>I>K?HKF:G<>H?HNK *BGEB@AMH?
@H:EL:G=H;C>L/A>HFFBMM>>PBMAHNMMA> *BG:MM>G=:G<>MHHDMABL:LL>LLF>GMBGMH:<MBMBO>GL:MBHG=:M:BG=>M>KFBGBG@HNK *^LGL:MBHG+>K?HKF:G<>M:K@>ML:K>BGM>G=>=MH;>:@@K>LLBO>R>M
:O:;E>PBMA=BEB@>GM>??HKM=NKBG@MA>?BL<:ER>:KLI:KMH?BML=>EB;>K:MBHGLHG *GL:MBHGMA>HFFBMM>>
=PBMABMLBG=>I>G=>GMHMA>KBG=>I>G=>GM=BK>GL:MBHG
M:8JI>K:';;>8:G(6N:8>H>DCH
*NK *F:D>LK>G=:MBHGLMHMA>HFFBMM>>K>@:K=BG@MA>;:L>L:E:KR:GGN:E<:LABG<>GMBO>:P:K=L $+	:G=
>JNBMR:P:K=L?HK>:Q>H??B<>KHMA>KMA:GABFL>E?/A>L>K>G=:MBHGL:K>;:L>=HGHNK *^L:LL>LLF>GMH?
>:Q>H??B<>K^LI>K?HKF:G<>=NKBG@MA>R>:KMBMBO>GL:MBHG=:M:BGM>KG:EI:R:EB@GF>GM:G=K>M>GMBHG
K:MBHGL*NK *K>IHKMLHGMA>I>K?HKF:G<>H?MA>>Q>H??B<>KL:G=MA>BK;NLBG>LL?NGR>:KBG
EB@AMH?@H:EL:G=H;C>L#>;:L>LABL>O:EN:MBHGHGABLDGHPE>=@>H?>:Q>H??B<>K^LI>K?HKF:G<>:G=
BGINM?KHFHMA>KBG=BOB=N:ELBG>=;:=;RMA>>Q>H??B<>KLMA>BK:@N>L:G=MA>BK=BK>IHKML
(>F;>KLH?HNK+>HIE>:G=+E:<>LHK@:GBS:MBHG:LLBLMHNK *BG:LL>LLBG@>:Q>H??B<>K^LI>K?HKF:G<>:G=
IKHOB=BG@F:KD>MGL:MBHG=:M:?HK>:$G>Q>K>LIHGLB;BEBMB>LL>M?HKMABGBMLKMA>HFFBMM>>K>EB>L
HG:GNF;>KH?K>LHNK<>LMHIKHOB=>BGINMMHMA>=>LL
!C9:E:C9:CIDCHJAI6CI
/A>HFFBMM>>K>M:BG>= Q>JNBMR''+:LBMLGL:MBHG:=OBL>K?HK?BL<:ER>:K Q>JNBMRIKHOB=>=:=OB<>:G=
K>G=:MBHGLHG:GNF;>KH?BLLN>LBGGL:MBHGIABEHLHIARIKH@K:F=>LB@GBGGML:G=F>MKB>K=:M:GL:MBHGMK>G=LBGMA>M>G>K:EF:KD>M?HKL>GBHK>Q>L
L>I:K:MBHGIE:GLMA>GL:MBHGH?HNK *:G=HNKHMA>K>Q>H??B<>KL:G==BLH?HNK>Q>I:RIKH@K:FL
/A>HFFBMM>>A:LK>=MA>BG=>I>G=>G<>H? Q>JNBMRBGEB@AMH?):L=:J^LEBLMBG@LM:G=:K=L?HKGL:MBHG>
BG=>I>G=>G<>:G=MA>KNE>LH?MA>. :G=K>JN>LM>=:G=K><>BO>=PKBMM>GJNBMR:==K>LLBG@MA>
BG=>I>G=>G<>H?MA>?BKF:G=BMLL>GBHK:=OBL>KLPHKDBG@PBMAMA>HFFBMM>>/A>HFFBMM>>=BL=MA>L>K:MBHGL
:G==MA:MMA>PHKDI>K?HKF>=;R Q>JNBMR=B=GHMK:BL>:GRK>LM
%6C6<:B:CI
/A>HFFBMM>>:ELHF>GM:G=NMH=>LD^L+>HIE>:G=+E:<>LHK@:GBS:MBHGK>@:K=BG@>Q>:G=
GHG
>Q>>FIEHR>>GL:MBHGIE:GLBGLD^L>JNBMRBG<>GMBO>IE:GL


DBE:I>I>K:DBE:CH6I>DC(DH>I>DC>C<6C9(::GGDJE
/H>GLNK>HNK>Q>GL:MBHGIK:L:K>MBMBO>:G=GMPBMAMA>HFFBMM>>^L@NB=BG@IKBGL
 Q>JNBMR:G=F:G:@>F>GMIKHOB=>MA>HFFBMM>>PBMAGL:MBHG=:M:?HK>:Q>KHE>/ABL=:M:BL=K:PG?KHF:
@KHNIH?LBGK>E>O:GMBG=NLMKB>LMA:MM>PBMANMH=>LD?HK>Q>M:E>GM/A>HFFBMM>>NL>LMABL=:M::L
P>EE:LBG?HKF:MBHG:;HNM;KH:=>KM>GL:MBHGIK:LPA>G>O:EN:MBG@MA>GL:MBHGH?HNK
>Q>H??B<>KL
/A>GL:MBHGI>>K@KHNIBLL>E>=;:L>=NIHGFNEMBIE>KB:BGMBMBHG?HK
>Q>M:E>GMK>O>GN>F:KD>M<:IBM:EBS:MBHG?BG:GLNEML:G=@>H@K:IAB<?HHMIKBGM/A>HFFBMM>>K>OB>PLMA>
GL:MBHGI>>K@KHNI>::KMH>GLNK>MA:MMA>F:BGF>:GBG@?NE:G=K>E>O:GM:L>=HGMA>HFFBMM>>^L
K>OB>PBG.>IM>F;>KGHLP>K>F:=>MHMA>I>>K@KHNI/A>?BL<:ER>:KGL:MBHGI>>K@KHNI=H?
MA>?HEEHPBG@L
DBE6CN
*:K:CJ:;DGI=:%DHI*:8:CI
DBEA:I:9>H86A1:6G
>C7>AA>DCH
%6G@:I6E>I6A>O6I>DC6HD;


>C7>AA>DCH
=H;>$G<


D:F:B/>L$G<


).4.$G<


EHG<>>LB@G.RLM>FL$G<


BMKBQ.RLM>FL$G<

)	
HM$G<


">GB@BM:E$G<


$GMNBM$G<


)>MII$G<


+:EHEMH)>MPHKDL$G<


+/$G<


.:E>L?HK<>$G<


.>KOB<>)HP$G<


.IENGD$G<	


.RGHILRL$G<


2HKD=:R$G<


JID9:H@!C8




JID9:H@(:G8:CI>A:*6C@>C<
I=
I=
8888888888888
	BMKBQ.RLM>FLP:L:=BG.>IM>F;>K
	.IENGD$G<P:L:=;RBLIM>F;>KMA>HFFBMM>>K>OB>P>=MA>GL:MBHGI>>K@KHNIMA:MPHNE=;>NL>=?HK?BL<:ER>:K
GL:MBHG=>HFFBMM>>=>M>KFBG>=MA:M?HK?BL<:ER>:K:EEH?MA>?BL<:ER>:KI>>K@KHNI
LPHNE=LMBEE;>:IIKHIKB:M>MHNL>>Q<>IM?HKBMKBQ.RLM>FLPABFHO>=?KHFMA>I>>K@KHNI=N>MHBML
:
2A>G=>M>KFBGBG@MA>;:L>L:E:KRBG<>GMBO>M:K@>ML>JNBMR@K:GML:G=M:K@>MMHM:E=BK>GL:MBHGHIIHKMNGBMR?HK
>:HFFBMM>>K>?>K>G<>LMA>F>=B:G=:M:?KHFHNKGL:MBHGI>>K@KHNI?HK>:GM:G=BGMA>
:@@K>@:M>GL:MBHG:P:K=LF:R;>:;HO>HK;>EHPMA>F>=B:GE>O>EL=>I>G=BG@HGNMH=>LD^L?BG:GK:MBHG:EI>K?HKF:G<>:G=>:Q>H??B<>K^L>QI>KB>G<>LDBEEL:G=I>K?HKF:G<>/A>HFFBMM>>;>EB>O>LMA:M
K>?>K>GMHM:EGL:MBHGI:LH?MA>LBGMA>GL:MBHGI>>K@KHNID>>ILNMH=>LD^LGL:MBHG
MBMBO>:G=PBMABGF:KD>MGHKFL/ABL:ELHIKHOB=>L?E>QB;BEBMR?HKO:KB:G<>LBGGL:MBHGPA>K>:IIKHIKB:M>;:L>=HG
>:Q>H??B<>K^LE>:=>KLABIQI>KMBL>:LP>EE:LK>M>GMBHGK:MBHGL


(G>C8>E6AA:B:CIHD;I=:M:8JI>K:DBE:CH6I>DC(GDIKBGE>F>GMLH?NMH=>LD^L?BL<:ER>:K>Q>GL:MBHGIKH@K:F?HKMA> *:G=HMA>K) *L:K>
=>L=;>EHP
DBEDC:CI
(JGEDH:
:H8G>EI>DC
(:G;DGB6C8:%:6HJG:H
:L>.:E:KR
!HKFL;:LBL?HKHO>K:EE
MBMBO>
GL:MBHGI:
->?E>MBMBO>F:KD>M
K?HKF:G<>
:G=BGM>KG:E:EB@GF>GM
/A>HFFBMM>>KL
BG=BOB=N:EI>K?HKF:G<>PA>G
L>MMBG@:G=K>OB>PBG@;:L>
L:E:KRE>O>EL:G=F>KBM
BG:L>L
 Q>$G<>GMBO>+E:G[ $+\	:M
/:K@>M>='>O>EL
(HMBO:M>:O>F>GMH?
:GGN:ELMK:M>@B<IKBHKBMB>L
K>E:MBG@MHMHI
:G=
;HMMHF
EBG>@KHPMA
/:K@>MI>K<>GM:@>;:L>=HG
MBMBO>F:KD>MIK:L:G=
BGM>KG:E:EB@GF>GM
L?KHFMH
H?M:K@>M:G=BL=>M>KFBG>=
;RI>K?HKF:G<>O>KLNL@H:EL
>LM:;EBLA>=:MMA>;>@BGGBG@H?MA>
I>K?HKF:G<>I>KBH=
/HM:EK>O>GN>
)HG
"+BG?KHF
HI>K:MBHGL
'HG@
/>KF$G<>GMBO>LZ
+>K?HKF:G<>.MH!:BK1:EN>L
EB@GGL:MBHGPBMA
D>R=KBO>KLH?MA>
;NLBG>LL:G=K>E:MBO>MHM:E
LMHKK>MNKG
 G?H:K
M>KF:G=EHG@
M>KF
LMK:M>@B<H;C>L
.BS>H?:P:K=;:L>=HGMBMBO>
F:KD>MIK:L:G=
BG=BOB=N:EI>K?HKF:G<>:G=
BGM>KG:E:EB@GF>GM
KH?LA:K>LO>LM>=
K:G@>L?KHFMHH?M:K@>M
:G=BL=>M>KFBG>=;RI>K?HKF:G<>
O>KLNL@H:EL>LM:;EBLA>=:MMA>
;>@BGGBG@H?MA>I>K?HKF:G<>
I>KBH=
/HM:EK>O>GN>
!K>><:LA?EHP
NMH=>LD^LK>E:MBO>/.-HO>K
HG>
MPH
:G=MAK>>
R>:K
I>K?HKF:G<>I>KBH=L
+>K?HKF:G<>BGK>E:MBHGMHHNK
 ."H;C>L
NMH=>LDLMH
'HG@
/>KF$G<>GMBO>LZ->LMKB=
.MH?HKFLMHKO:EN>
:MBHG
->M>GMBHG
.BS>H?:P:K=;:L>=HGMBMBO>
F:KD>MIK:L:G=
BG=BOB=N:EI>K?HKF:G<>BGM>KG:E
:EB@GF>GM:G=K>M>GMBHG
K:MBHGL
->GML>:KGLA:K>LB?MA>R
K>F:BG>FIEHR>=MAKHN@AMA>
MAK>>
R>:KO>LMBG@I>KBH=
NMH=>LDLMH
2A>GL>MMBG@MA>?BL<:E@H:EL?HKMA>:GGN:E<:LABG<>GMBO>HIIHKMNGBMR:G=+.0LMA>HFFBMM>>K>=MA>
HO>KE:IH?MHM:EK>O>GN>:L:I>K?HKF:G<>F>MKB<BG;HMAIKH@K:FLMH;>:IIKHIKB:M>/HM:EK>O>GN>BL:D>RF>MKB<BG=B<:MHKH?
NMH=>LD^LLN<<>LL:G=MA>HFFBMM>>;>EB>O>LBMBLBFIHKM:GMMHBG<>GMBOBS>I>K?HKF:G<>BG;HMAMA>LAHKM
M>KF:G=EHG@
M>KF
MBF>?K:F>L;RNLBG@MABL:L:F>MKB<BG;HMAHNK:GGN:E:G=EHG@
M>KFIE:GLPBMAFNEMBIE>F>:LNK>F>GMI>KBH=L/A>NL>H?
GHG
"+BG?KHFHI>K:MBHGLBGHNK:GGN:E<:LABG<>GMBO>:G=?K>><:LA?EHP:LP>EE:LK>E:MBO>/.-HO>KHG>
MPH
:G=
MAK>>
R>:KI>K?HKF:G<>I>KBH=L:@:BGLMF:KD>MBG=B<>L:L:FH=B?B>K?HKMA>+.0L?NKMA>K=B??>K>GMB:M>LMA>LAHKM
:G=EHG@
M>KF
BG<>GMBO>L:G=:EB@GLMAHL>:P:K=LPBMAMA>:O>F>GMH?NMH=>LD^LLMK:M>@B<@H:EL:G=MA>EHG@
M>KFBGM>K>LMLH?HNK
LMHKL
6H:+6A6GN
:L>L:E:KRBLNL>=MHIKHOB=>HNK>Q>H??B<>KLPBMA:MBMBO>:FHNGMH??BQ>=:GGN:E<:LAGL:MBHG/A>
HFFBMM>>OB>PL;:L>L:E:KR:L:K>EB:;E>LHNK<>H?BG?HKMA>>Q>H??B<>KL:G=:GBFIHKM:GMK>M>GMBHG
MHHE/A>HFFBMM>>L>ML;:L>L:E:KB>L:M:MBMBO>E>O>EMA:MK>LMA>LK>LIHGLB;BEBMR:G=LDBEELK>JNBK>=H?
>:EE:LF:KD>MKG:EI:R:EB@GF>GM


LI:KMH?MA>:GGN:EK>OB>PH?;:L>L:E:KB>LMA>HFFBMM>>K>OB>PL:MBMBO>;>GL?HK>:Q>KHE>:G=:G:LL>LLF>GMH?>:Q>H??B<>K^L>QI>KB>G<>LDBEELK>LIHGLB;BEBMB>L:G=I>K?HKF:G<>E>O>E!HK
?BL<:ER>:K:?M>KM:DBG@:<:;HO>K:MBHGLMA>HFFBMM>>=>M>KFBG>=MHAHE=KG:@GHLM^L;:L>L:E:KR
?E:M:G=HMA>KPBL>F:=>L:E:KR:=CNLMF>GML?HKHNK) *L:LLAHPGBGMA>M:;E>;>EHP/A>HFFBMM>>L>M(L+>:K<>^L;:L>
L:E:KR:MMA>EHP>K>G=H?MA>MBMBO>K:G@>E:LMR>:K;><:NL>LA>P:LG>PERIKHFHM>=MHMA>AB>?+>HIE>*??B<>K^LKHE>
"BO>GA>K:<GMLHO>KMA>I:LMR>:KMA>HFFBMM>>:=CNLM>=A>K;:L>L:E:KRMH:IHLBMBHGPAB:IIKHIKB:M>ER
K>?E>KLDBEEL>QI>KB>G<>:G=I>K?HKF:G<>:G=MA:M;>MM>K:EB@GLPBMAI>>KIK:L
&6B:9M:8JI>K:';;>8:G
>H86A1:6G6H:
+6A6GN
>H86A1:6G6H:
+6A6GN
=6C<:DBE6G:9ID
(G>DG>H86A1:6G
G=K>PG:@GHLM


Z
>;HK:A'EB??HK=



.M>O>G(ENF


Z
-NMAGG&>>G>



->;><<:+>:K<>	



8888888888888
	(L+>:K<>^L;:L>L:E:KRBLI:B=BGKBMBLA+HNG=L/A>:FHNGMLK>IK>L>GMMA>:IIKHQBF:M>=HEE:KO:EN>H?A>K;:L>L:E:KRKM>=MH
0.=HEE:KLNLBG@MA>KBMBLA+HNG=MH=HEE:K>QK:M>LH?:G=PABIK>L>GM:G:O>K:@>?HK?BL<:ER>:KL:G=
K>LI>ER
CCJ6A+=DGI	,:GB!C8:CI>K:DBE:CH6I>DC
MMA>;>@BGGBG@H?>::KMA>HFFBMM>>>LM:;EBLA>LM:K@>M:P:K=HIIHKMNGBMB>LI:RHNMF>MKBK?HKF:G<>M:K@>ML?HKMA>NMH=>LD$G< Q>$G<>GMBO>+E:G[ $+\	/ABL:GGN:E<:LABG<>GMBO>BLBGM>G=>=MHFHMBO:M>
:G=K>P:K=I:KMBOBG@:GGN:E?BG:GL:LP>EE:LBG=BOB=N:E
H;C>L
,6G<:IL6G9'EEDGIJC>I>:H6C9>H86A1:6GM:8JI>K:!C8:CI>K:(A6C
/A>HFFBMM>>L>MLMA>M:K@>M:GGN:E<:LABG<>GMBO>:P:K=HIIHKMNGBMR?HK>:EB@B;E>>Q>H??B<>K;:L>=HG
MBMBO>:LL>LLF>GMLMA>>Q>^LI:KMB:G=BGM>KG:E:EB@GF>GMK:MBHGL/A>L>M:K@>MHIIHKMNGBMB>L:K>
>QIK>LL>=:L:I>K<>GM:@>H?MA>) *^L:GGN:E;:L>L:E:KR:L>=HGBMLK>OB>PH?MA>L>?:HFFBMM>>F:BGM:BG>=MA>
 *^LM:K@>M:GGN:EBG<>GMBO>HIIHKMNGBMR:MH?ABL:GGN:E;:L>L:E:KR?HK?BL<:ER>:K/A>HFFBMM>>BG:L>=
HMA>K) *L^M:K@>MHIIHKMNGBMB>L?KHFMHH?MA>BK:GGN:E;:L>L:E:KB>L?HK?BL<:ER>:KG) *F:RK><>BO>:G
>:KG>=:P:K=MA:MBL@K>:M>KHKE>LLMA:GMA>M:K@>M:P:K=HIIHKMNGBMR=>I>G=BG@NIHGNMH=>LD^L:G=MA>) *^LI>K?HKF:G<>
$G?BL<:ER>:K;HGNL:P:K=L?HK>:K>?NG=>=NG=>KMA> $+IKH@K:FMMA>;>@BGGBG@H?MA>
?BL<:ER>:KMA>HFFBMM>>>LM:;EBLA>=?NG=BG@I>K?HKF:G<>MAK>LAHE=LPABO>=PHNE=>LM:;EBLAMA>F:QBFNF?BL<:E
R>:K $+?NG=BG@:MH?M:K@>M!HK?BL<:ER>:KMA>HFFBMM>>L>E>=MHM:EK>O>GN>GHG
"+BG?KHF
HI>K:MBHGL:G=:;LHENM>/.-:LMA>?NG=BG@F>MKBLD^L?BL<:ER>:KI>K?HKF:G<>>Q<>>=>=MA>?NG=BG@MAK>LAHE=
K>LNEMBG@BGMA>F:QBFNF;HGNL:P:K=?NG=BG@?HK>:Q>/A>HFFBMM>>MA>G>Q>K=BMLG>@:MBO>=BLMBHGMH
K>=N<>MA>::I:KMB=HGIK>
>LM:;EBLA>=I>K?HKF:G<>F>:LNK>L:L=>L=;>EHP
DBE6CN(:G;DGB6C8:%:6HJG:H6C9(:G;DGB6C8:
MMA>;>@BGGBG@H??BL<:ER>:KMA>HFFBMM>>:IIKHO>=?BL<:ER>:K $+I>K?HKF:G<>F>:LNK>LMH:EB@GHNK
 *^L:G=HMA>K) *L^;HGNLHIIHKMNGBMB>LPBMAHNKLMK:M>@B<IKBHKBMB>L:G=D>R=KBO>KLH?LN<<>LL$GBML>Q>KH?G>@:MBO>
=BLMBHGMA>HFFBMM>>K>=MA>I>K?HKF:G<>:MM:BG>=O>KLNLMA>IK>
>LM:;EBLA>=I>K?HKF:G<>M:K@>MLMH=>M>KFBG>
I:RHNML!HKHNK *:G=HMA>K) *LMA>HFFBMM>>:LL>LL>=MA>I>K?HKF:G<>H?NMH=>LD:@:BGLMM:K@>MLL>M:MMA>
;>@BGGBG@H?MA>?BL<:ER>:K;:L>=HGMA>KB:;>EHPMA>?BG:E:P:K=?KHFMHH?MA>M:K@>M:P:K=/ABL
<:EE=>=:;HGNLI:RHNMH?H?M:K@>M:LLAHPG;>EHP
(:G;DGB6C8:%:IG>8

/:><=I>C<
8IJ6A
B>AA>DCH
,6G<:I
B>AA>DCH
(:G;DGB6C8:
II6>CB:CI
JC9>C<
/:><=I:9!(
JC9>C<
/HM:E->O>GN>






)HG
"+$G?KHF*I>K:MBHGL






,DI6A




88888888888888888


	
HGLBLM>GMPBMAHNK $+:=FBGBLMK:MBO>@NB=>EBG>LMA>?BL<:ER>:KMHM:EK>O>GN>:G=GHG
"+BG?KHFHI>K:MBHGLK>LNEML
P>K>GHM:=CNLM>=?HK:=>GMBMB>L
:L>=HGMA>E>O>EH?:O>F>GMH?MA> $+IKH@K:FI>K?HKF:G<>H;C>LBG(:KHFFBMM>>:IIKHO>=
LAHKM
M>KFBG<>GMBO>:P:K=L?HKMA>) *L:LLAHPG;>EHP
&6B:9M:8JI>K:';;>8:G
+=DGI	,:GB!C8:CI>K:
,6G<:I6H6(:G8:CI6<:D;
6H:+6A6GN
+=DGI	,:GB!C8:CI>K:
,6G<:I

+=DGI	,:GB!C8:CI>K:
(6NDJI
+=DGI	,:GB!C8:CI>K:
(6NDJI6H6
(:G8:CI6<:D;,6G<:I
G=K>PG:@GHLM




>;HK:A'EB??HK=




.M>O>G(ENF




-NMAGG&>>G>




->;><<:+>:K<>




88888888888888888
	.AHKM
M>KFBG<>GMBO>M:K@>M:FHNGML:K>;:L>=HG::KGBG@L=NKBG@!4PABK?KHF:IIKHO>=!4L:E:KB>L=N>
MHMA>>??>=:M>H?L:E:KRBG:L>L
>H86A1:6G+=DGI	,:GB!C8:CI>K:DBE:CH6I>DC
$G?BL<:ER>:KMA>;HGNL:P:K=L?HK>:MH;>=>M>KFBG>=NG=>KMA>NMH=>LD$G<
 Q>$G<>GMBO>+E:G)>:KMA>;>@BGGBG@H?MA>?BL<:ER>:KMA>HFFBMM>>:IIKHO>=MA>O>GN>GHG
"+BG?KHFHI>K:MBHGL:G=:;LHENM>/.-:LMA>MAK>LAHE=?NG=BG@F>MKB?NG=BG@F>MKB:O>=BGBML
>Q>KH?=BLMBHGMA>HFFBMM>>PBEEKNMH=>LD^LI>K?HKF:G<>:MM:BGF>GMO>KLNLIK>
>LM:;EBLA>=M:K@>MLMH
=>M>KFBG>I:RHNML:@:BGLMMHM:EK>O>GN>:G=GHG
"+BG?KHFHI>K:MBHGLPAB;>>GK>M:BG>=:LMA>I>K?HKF:G<>
F>MKBNEMBF:M>=>M>KFBG:MBHGH?;HGNLI:RF>GMLPBMAMA>?HEEHPBG@P>B@AMBG@
(:G;DGB6C8:%:IG>8
/:><=I>C<
/HM:E->O>GN>

)HG
"+$G?KHF*I>K:MBHGL

/A>HFFBMM>>;>EB>O>LMA:MMA>F>MKBE>=?HKMA>?BL<:ER>:K $+PBEE:EB@GHNKBG<>GMBO>LPBMAD>R=KBO>KLH?
LN<<>LL/A>?BG:E:P:K=L?HKHNK) *L?KHFMHH?M:K@>M=>I>G=BG@HGMA>I>K?HKF:G<>:O>=$G
L>E>O>GN>:G=GHG
"+BG?KHFHI>K:MBHGLMA>HFFBMM>>:ELHK>=LMHK?>>=;:MKB?E>OHEO>=;NLBG>LLFH=>E:G=?HEE:LMA>IK:LH?HNKI>>K
L/A>HFFBMM>>LL>LHNKGL:MBHGIKH@K:FLMKN:G=F>MKBLIHG=MH;NLBG>LL
G>>=LBG=NLMKRIK:L:G=MA>M:E>GMF:KD>M
$DC<	,:GB!C8:CI>K:DBE:CH6I>DC
NMH=>LDNL>LEHG@
M>KFBG<>GMBO>GL:MBHGBGMA>?HKFH?>JNBMR:P:K=LMH:EB@G>Q>I:RHIIHKMNGBMB>LPBMA
LMHKO:EN>:MBHG:G=MHFHMBO:M>:G=K>P:K=>Q>H??B<>KL?HK>??>ER>Q>K
M>KFLMK:M>@B<:G=
HI>K:MBHG:EH;C>L
>H86A1:6GCCJ6A$DC<	,:GBFJ>INL6G9H
NKBG@?BL<:ER>:KMA>HFFBMM>>:IIKHO>=:GGN:E>JNBMR:P:K=LBGMA>?HKFH?+.0L:G=K>LMKB=LMHHFFBMM>>>E>=MHMHNL>:FBQH?+.0L:G=-.0L?HK>:F>GMMA>I>K?HKF:G<>:LI>EHG@
M>KFK>M>GMBHG>E>F>GMH?-.0L
$G:KKBOBG@:MMA>O:EN>H?+.0L:G=-.0LMH:P:K=>:Q>H??B<>KBG?BL<:ER>:KMA>HFFBMM>>K>=
NMH=>LD^LI>K?HKF:G<>BG?BL<:ER>:KMBMBO>F:KD>M=:M:?HKMA>>Q>^LIHLBMBHGABLMHKB<:E@K:GMLNGO>LM>=
>JNBMRBG=BOB=N:EI>K?HKF:G<>H?MA>>Q> ."I>K?HKF:G<>:G=BGM>KG:EI:R:EB@GF>GM


!HK?BL<:ER>:KP>:==>=FHK>LMKNMHHNK:IIKH:KFBG<>GMBO>:P:K=LL
I:KMH?MABL>??HKMP>=>?BG>=JN:GMBM:MBO>:G=JN:EBM:MBO>F>:LNK>LMA:ME>:=>KLP>K>:LL>LL>=:@:BGLMMHBG?HKFMA> *^L
K>G=:MBHGLMHMA>HFFBMM>>?HKMA>HMA>K) *L:G=MA>HFFBMM>>^L=>M>KFBG:MBHGH?MA>?BG:E:P:K=L?HK:EE) *L
/A>L>F>MKBKLBMR:G=;>EHG@BG@	:G=>GOBKHGF>GM:ELNLM:BG:;BEBMRBG>;>EHG@BG@:G=>G@:@>F>GMHNML
X
/NKGHO>KK:M>L:G=K>IK>L>GM:MBHGH?PHF>G:G=I>HIE>H?O>F>GMH?=><:K;HGBS:MBHG@K>>GAHNL>@:LG>NMK:EBS:MBHG:G=K>G>P:;E>>G>K@R@H:EL
X
 Q>BGOHEO>F>GMBG:G=LNIIHKMH?>FIEHR>>@KHNIL>QM>KG:EHK@:GBS:MBHGL:G=HMA>K>??HKMLMA:MIKHFHM>
=BO>KLBMR;>EHG@BG@:G=>GOBKHGF>GM:ELNLM:BG:;BEBMR
*GERPA>GP>LB@GB?B<:GMER>Q<>>=HNK ."@H:ELHK?:BEMH:O>MA>L>F>MKBEHG@
M>KFBG<>GMBO>:P:K=L:=CNLM>=
NIP:K=HK=HPGP:K=!HK?BL<:ER>:KMA> *:G=HFFBMM>>=MA:MMA>E>:=>KLABIM>:F^LI>K?HKF:G<>:EB@G>=
PBMA>QI>LLHG ."BGBMB:MBO>L:G=MA>K>?HK>:=CNLMF>GMLMH) *^LEHG@
M>KFBG<>GMBO>:P:K=LP>K>GHM
P:KK:GM>=
L:K>LNEMH?MABL:G:ERLBLMA>?HEEHPBG@>JNBMR:P:K=LP>K>:IIKHO>=BG?BL<:ER>:K
&6B:9M:8JI>K:';;>8:G
,6G<:I.6AJ:D;(+-6C9*+-
L6G9
,6G<:I(+-L6G9

*+-L6G9

G=K>PG:@GHLM





>;HK:A'EB??HK=





.M>O>G(ENF





-NMAGG&>>G>





->;><<:+>:K<>





88888888888888888
	
)NF;>KH?LA:K>L=>M>KFBG>=;RMA>P>B@AMBG@H?+.0L:G=-.0L:G=MA>:O>K:@>HO>KMA>E:LMMK:=BG@=:RLIKBHK
MHMA>=:M>H?@K:GM
(+-L6G9H
*NKGM+.0=>LB@GP:L:=HIM>=?HEEHPBG@>QM>GLBO>LMHKHNMK>:L:GNF;>KH??>:MNK>LHNK
LMHKLA:O>B=>GMB?B>=:L;>BG@FHLMBFIHKM:GMBGI>K?HKF:G<>F>MKBE:MBO>MHI>>KL:G=FNEMB
R>:KK>E:MBO>/.-F>:LNK>F>GMI>KBH=L
/A>+.0:P:K=LIKHOB=>?HK:FBGBFNFM:K@>M:G=F:QBFNFGNF;>KH?LA:K>LMH;>>:KG>=;:L>=NIHGIK>=>M>KFBG>=
I>K?HKF:G<>KB:
X
!HK?BL<:ER>:K:P:K=L+.0O>LMBG@PBEE;>;:L>=HG:O>F>GMH?I>K?HKF:G<>@H:EL:=HIM>=;RMA>
HFFBMM>>[+>K?HKF:G<>->LNEML\	:G=NMH=>LD^L/.-=:@:BGLMLBGMA>.+)HKMAF>KB<:G
/>$G=>QPBMA:F:KD>M<:IBM:EBS:MBHGHO>K;BEEBHG[->E:MBO>/.-\	HO>KHG>
MPH
:G=MAK>>
R>:KI>K?HKF:G<>I>KBH=L
X
$G?BL<:ER>:KP>F>:LNK>=+>K?HKF:G<>->LNEML;:L>=HGMHM:EK>O>GN>:G=?K>><:LA?EHP/H:M>:FHK>
IK>=B<:LA?EHP:G=:EB@GPBMABG=NLMKRLM:G=:K=L?HKLN;LLLNMH=>LDMK:GLBMBHG>=?KHFNI
?KHGM
MH:GGN:E;BEEBG@?HKFNEMB
R>:K:KPBMA:GNG=>KLM:G=BG@MA:MMABLMK:GLBMBHGPHNE=:M>:
LB@GB?B<:GMA>:=PBG=?HK?K>><:LA?EHPMA:M?BL<:ER>:KPABBG?BL<:ER>:KL:K>LNEMMA>?K>><:LA
?EHPM:K@>MP:LL>M:M:E>O>EPABKMA:G?BL<:ER>:K
X
/A>NL>H?FNEMBIE>@H:ELFHMBO:M>LF:G:@>F>GMMH=KBO>NMH=>LD^L@KHPMA:LP>EE:L?HGM:EF>MKB=;RBGO>LMHKLMH:LL>LLHNKI>K?HKF:G<>HF;BGBG@:HG>
R>:K?BG:GK?HKF:G<>I>KBH=PBMAHG>
MPH
:G=
MAK>>
R>:K->E:MBO>/.-I>K?HKF:G<>I>KBH=LIKHOB=>L:;:E:G<>H?LAHKM
:G=EHG@
M>KF?HGLNK>LLN??BGMEBG>
H?LB@AM:G=:EB@GLLMHKBGM>K>LML
+>K?HKF:G<>->LNEML?HKMA>K>E>O:GMI>K?HKF:G<>I>KBH=LNEMBG+.0:MM:BGF>GMH?MHH?M:K@>M*G<>
MA>+>K?HKF:G<>->LNEMLI>K<>GM:@>BL>LM:;EBLA>=BMBLFNEMBIEB>=;R:I>K<>GM:@>K:G@BG@?KHFMH=>I>G=BG@HG


NMH=>LD^L->E:MBO>/.-?HKMA>I>KBH=/A>=BFI:L>I>K?HKF:G<>KB:BLMA:M+.0L>:KG>=?KHF
MHH?M:K@>M/A>EHPBEENLMK:M>LMA>:MM:BGF>GMF>+.0L:IIKHO>=BG?BL<:ER>:K
>H86A1:6G
>GHI(+-,G6C8=:
>H86A1:6G
+:8DC9(+-,G6C8=:
>H86A1:6G
,=>G9(+-,G6C8=:
!BL<:E4>:K/:K@>M.A:K>L



!BL<:E4>:K!BG:GK?HKF:G<>

H?/:K@>M	



!BL<:E4>:K
->E:MBO>/.-

	
!BL<:E4>:K/:K@>M.A:K>L



!BL<:E4>:K!BG:GK?HKF:G<>

H?/:K@>M	



!BL<:E4>:K
->E:MBO>/.-

	
!BL<:E4>:K/:K@>M.A:K>L



!BL<:E4>:K!BG:GK?HKF:G<>

H?/:K@>M	



!BL<:E4>:K
->E:MBO>/.-

	
G>Q>PAHA:LK><>BO>=+.0@K:GMLBGMAK>>LN<<>LLBO>R>:KLPBEEA:O>:IHKMBHGH?MA>MHM:E+.0LA:K>LO>LMBG@BG
MA>MABK=R>:K;:L>=HG>::K
R>:K:G=
R>:K->E:MBO>/.-L>>[1>LMBG@H?+.0L\;>EHP?HK:GBEENLMK:MBHGH?MABL
>??>+.0@K:GML	
.:HI>C<D;(+-H>C
$G(:KHFFBMM>>K>OB>P>=:G=<>KMB?B>=MA>:MM:BGF>GME>O>EL?HKI>K?HKF:G<>F>:LNK>L?HKMA>MABK=MK:G
H?+.0L:P:K=>=BGIKBEMA>L>H?+.0L:P:K=>=BGIKBE:G=MA>?BKLMMK:GH?+.0L:P:K=>=BG
IKBE!HK>:HFFBMM>><>KMB?B>=MA>?HEEHPBG@I>K?HKF:G<>
(:G;DGB6C8:%:IG>8

/:><=I>C<
8IJ6A
>CB>AA>DCH
,6G<:I
>CB>AA>DCH
(:G;DGB6C8:
II6>CB:CI
JC9>C<
/:><=I:9
JC9>C<
/HM:E->O>GN>






!K>>:LA!EHP






,DI6A




88888888888888888
	
HGLBLM>GMPBMA:=FBGBLMK:MBO>@NB=>EBG>L?HK+.0LMA>?BL<:ER>:KMHM:EK>O>GN>:G=?K>><:LA?EHPK>LNEMLP>K>GHM:=CNLM>=?HK
:=>GMBMB>L
NMH=>LD^L->E:MBO>/.-P:L;:L>=HG
(:G;DGB6C8:(:G>D9
JID9:H@,+*

(:G8:CI>A:*6C@
(6NDJI%JAI>EA>:G
!BL<:E4>:K
!BL<:E4>:K


LM+>K<>GMBE>

!BL<:E4>:K
!BL<:E4>:K

MA+>K<>GMBE>

!BL<:E4>:K

G=+>K<>GMBE>

88888888888888888
	
:L>=HGMA>
=:R:O>K:@>
=:RL	:MMA>;>@BGGBG@H?>:KBH=:G=MA>>G=H??BL<:ER>:K
	
->E:MBO>/.-P:LF>:LNK>=:@:BGLMLBGMA>.+)HKMAF>KB<:G/>$G=>QPBMA:F:KD>M<:IBM:EBS:MBHG
HO>K;BEEBHG


/A>GM:G=->E:MBO>/.-K>LNEMLRB>E=>=MA>?HEEHPBG@+.0O>LMBG@BG?BL<:ER>:K
EG>A
G9,G6C8=:D;
>H86A1:6GL6G9 
>H86A1:6G
>C6C8>6A
D6AJC9>C<


0
>H86A1:6G	>H86A
1:6G
*:A6I>K:,+*


(:G8:CID;(+-,6G<:I
L6G9

EG>A
C9,G6C8=:D;
>H86A1:6GL6G9 
0
>H86A1:6G	>H86A
1:6G
*:A6I>K:,+*


(:G8:CID;(+-,6G<:I
L6G9

EG>A

HI,G6C8=:D;
>H86A1:6GL6G9 
0
>H86A1:6G
*:A6I>K:,+*


(:G8:CID;(+-,6G<:I
L6G9

:L>=HGMABLI>K?HKF:G<>MA>+.0:P:K=LP>K>>:KG>=:L?HEEHPL
EG>A
L6G9
G9,G6C8=:
EG>AL6G9
C9,G6C8=:
EG>AL6G9

HI,G6C8=:
&6B:9M:8JI>K:';;>8:G
,6G<:I
&JB7:GD;
(+-H
8IJ6A&JB7:G
D;(+-H6GC:9
,6G<:I
&JB7:GD;
(+-H
8IJ6A
&JB7:GD;
(+-H6GC:9
,6G<:I
&JB7:GD;
(+-H
8IJ6A
&JB7:GD;
(+-H6GC:9
G=K>PG:@GHLM






>;HK:A'EB??HK=






.M>O>G(ENF






-NMAGG&>>G>
)
)




->;><<:+>:K<>






*+-L6G9H
-.0L:K>:MRIB<:EEHG@
M>KFBG<>GMBO>H??>K>=:FHG@HNKI>>KL:G=BG@>G>K:EBG=NLMKR:G=MA>L>:P:K=LA>EINLK>M:BG>Q>LBG:MBMBO>>GOBKHGF>GM:G=IKHOB=>?NKMA>KBG<>GMBO>MH?HK
M>KFLMHKO:EN>
:MBHG$GIKBEHNK) *LK><>BO>=MBF>
;:L>=-.0:P:K=LPABLMBGMAK>>>JN:E:GGN:EBGLM:EEF>GML;>@BGGBG@BG
(:KH86A1:6GFJ>INL6G9H
!HK?BL<:ER>:KMA>HFFBMM>>>E>=MH@K:GMHNK) *LH?MA>BK:GGN:E>JNBMRBG+.0L:G=BG-.0LMH
:EB@GMA>BKGL:MBHGPBMAHFI:GRI>K?HKF:G<>/A>?BL<:ER>:K+.0:P:K=L:K>LMKN=BGMA>L:F>F:GG>K:L
MA>?BL<:ER>:K+.0:P:K=L /A>HFI:GR^L?BG:GK?HKF:G<>PBEEMH;>F>:LNK>=;:L>=HGMA>?HEEHPBG@
F>MKB8
&'/:><=I>C<
/HM:E->O>GN>

!K>>:LA!EHP

/A>HFFBMM>>L>E>=MHM:EK>O>GN>:G=?K>><:LA?EHP:LMA>?BL<:ER>:K+.0I>K?HKF:G<>F>MKBQ>LBG<>GMBO>LPBMAMA>L>D>R=KBO>KLH?LMHKO:EN>/A>HFFBMM>>=>M>KFBG>=MA>HO>KE:IH?MHM:EK>O>GN>BG
MA>LAHKM
M>KFBG<>GMBO>:G=MA>+.0LMH;>:IIKHIKB:M>BGEB@AMH?MA>BFIHKM:G<>H?MABL@H:EMA>NL>H?=B??>K>GML>MKBMPHBG<>GMBO>L:G=MA>NL>H?K>E:MBO>/.-FH=B?B>KL?HKMA>+.0L$G?BL<:ER>:KMA>HFFBMM>>:ELH
K>=IKH@K>LL:G=HNMLHG=BO>KLBMR:G=;>EHG@	:G=>GOBKHGF>GM:ELNLM:BG:;BEBMRPA>G=>M>KFBGBG@EHG@
M>KFBG<>GMBO>:P:K=L?HK) *L


/A>?BG:GK?HKF:G<>K>LNEMLPBEEMH;>:=CNLM>=;:L>=HGNMH=>LD^L->E:MBO>/.-HO>KHG>
MPH
:G=
MAK>>
R>:KI>K?HKF:G<>I>KBH=LPBMA:K>E:MBO>/.-FH=B?B>KK:G@>H?MH/A>I:RHNMH?MA>+.0LPBEEMH
K:G@>?KHFMHH?M:K@>M
M:8JI>K::C:;>IH
/:A;6G:6C9'I=:GBEADN:::C:;>IH
>G>?BMLIKHOB=>=MHHNK>Q>H??B<>KL:K>@>G>K:EERMA>L:F>:LMAHL>IKHOB=>=MH:EEHMA>K>EB@B;E>NMH=>LD
>FIEHR>>L$GMA>0GBM>=.M:M>LMA>L>;>G>?BMLBGF>=B<:E=>GM:E:G=OBLBHGBGLNK:G<>D	K>MBK>F>GMIE:GPBMA
FIEHR>>LMHIE:GA>:EMA:G==>I>G=>GM<:K>?E>QB;E>LI>G=BG@:<KF=BL:;BEBMRL:E:KRKF=BL:;BEBMRBGLNK:G<>:<GM:E=>:MA:G==BLF>F;>KF>GMBGLNK:G<>;:LB<
EB?>BGLNK:G<>K:@>:G=O:KBHNLI:B=MBF>H??:G=E>:O>IKH@K:FL
(L+>:K<>BL;:L>=BGMA>0&:G=BL>EB@B;E>MHI:KMBBGMA>EH<:E>FIEHR>>;>G>?BMIE:GLF:=>:O:BE:;E>MH0&
;:L>=>FIEHR>>LBGFIEHR>KI>GLBHGLF>
(:GFJ>H>I:H6C9'I=:G(:GHDC6A:C:;>IH
NMH=>LD=H>LGHM:L:@>G>K:EIK:IKHOB=>F:M>KB:E;>G>?BMLHKLI>K:MBHGLMHHNK>Q>H??B<>KLMA:M
:K>GHMIKHOB=>=MHHMA>K>FIEHR>>L#HP>O>K?KHFMBF>MHMBF>PA>G=>>F>=:IIKHIKB:M>;RMA>HFFBMM>><>KM:BG
>Q>H??B<>KLK><>BO>I>KJNBLBM>L:G=HMA>KI>KLHG:E;>G>?BMLMA:M:K>MBMBO>ERIKN=>GMHKHMA>KPBL>BGNMH=>LD^L;>LM
BGM>K>LM
BEADNB:CIDC
BEADNB:CII='
/A>M>KFL:G=FIEHRF>GM:K>L>M?HKMABGABL:F>G=>=>FIEHRF>GM:@K>>F>GMPAB?BG>LMA>K>LI>KB@AMLH?NMH=>LD:G=KG:@GHLM/ABL:@K>>F>GMIKHOB=>L@>G>K:EIKHM>
>O>GMH?M>KFBG:MBHGPBMAHNM<:NL>HKK>LB@G:MBHG?HK@HH=K>:LHG:G=A:L;>>G:O:EN:;E>MHHEMHBG<>GMBOBS>KG:@GHLMMH
;>HNK *:G=MHK>M:BGABLL>KOB<>L2>;>EB>O>MA>IKHM>=MHHNK *BGMA>>O>GMH?:BGEIBG@HNK *F:BGM:BG?H=B<:MBHGMH>GA:G<>LMHKO:EN>>M:BELH?MA>:@K>>F>GM
PBMAKG:@GHLM<:G;>?HNG=;>@BGGBG@HGI:@>
+:K:G6C8:(A6C
NKBG@?BL<:ER>:KMA>HFFBMM>>:=HIM>=MA>NMH=>LD$G<.>O>K:G<>+E:GMH>LM:;EBLALM:G=:K=>Q>
L>O>K:G<>M>KFLMA:M:K>MBMBO>PBMAHNKM:E>GMMBMHKL:G=FBGBFBS>MA>G>>=MHG>@HMB:M>BG=BOB=N:EBS>=>Q>
L>O>K:G<>M>KFLBGMA>?NMNK> :KMA:GHNK *	:LP>EE:L<>KM:BGHMA>KL>GBHK>Q>LBL:
I:KMBIE:G$?:I:KMBFIEHRF>GMBLM>KFBG:M>=PBMAHNM<:NL>HKB?:I:KMBKFBG:M>LABLHKA>K
>FIEHRF>GM?HK@HH=K>:LHGMA>GBG:==BMBHGMHI:RF>GMH?:<=;:L>L:E:KR:G=O:<:MBHG:G=:GRIK>OBHNLER:P:K=>=;NM
NGI:B=;HGNLMA>I:KMBEB@B;E>MHK><>BO>MA>?HEEHPBG@;>G>?BML
X
:ENFI
LNFI:RF>GM>JN:EMHMA>LNFH?:	MBF>LMA>I:KMBI:RBG>??>=:M>H?M>KFBG:MBHG:G=
;	MBF>LMA>I:KMBM:GGN:E<:LA;HGNLBG<>GMBO>:FHNGMNG=>KHNK:GGN:E<:LA;HGNLBG<>GMBO>IE:G
:IIEB<:;E>MHMA>I:KMB??>=:M>H?M>KFBG:MBHG?HK->;><<:+>:K<>LNGMPHNE=;>
BGH?:GRL>O>K:G<>HKI:RF>GMK><>BO>==NKBG@HKBGK>E:MBHGMHA>KGHMB<>I>KBH=	
X
:<<>E>K:M>=O>LMBG@H?MA>I:KMB
;:L>=-.0LMA:MPHNE=A:O>;>O>LM>=A:=MA>I:KMBF:BG>=
FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>M>KFBG:MBHG
X
=O>LMBG@H?MA>I:KMB;>O>LM>=A:=MA>I:KMBF:BG>=FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>M>KFBG:MBHG;:L>=HGMA>>QM>GMMHPABNG=>KERBG@
I>K?HKF:G<>KB:PBMAK>LI>L:MBL?B>=?HKLNK?HKF:G<>I>KBH=
X
:ENFI
LNFI:RF>GMBG:G:FHNGM>JN:EMHMBF>LMA>FHGMAERIK>FBNFMA:MMA>I:KMBK>JNBK>=MHI:RMH
ABLHKA>K@KHNIA>:EMAK:@>B?MA>I:KMB:MBF>ER>E>KMA>HGLHEB=:M>=*FGB;NL
N=@>M->G=>=[*-\	?HK->;><<:+>:K<>LNGMBLGHM:IIEB<:;E>	:G=


X
HFI:GR
IKHOB=>=HNMIE:<>F>GML>KOB<>LBG:<PBMANMH=>LD^LMA>G
:IIEB<:;E>HNMIE:<>F>GML>KOB<>IKH@K:F
HK:KK:G@>F>GML?HKFHGMALBFF>=B:M>ER?HEEHPBG@MA>=:M>H?M>KFBG:MBHG
$G(:K:F>G=>=MA>.>O>K:G<>+E:GMHIKHOB=>LBFBE:K;>G>?BML:LMAHL>L>M?HKMA:;HO>MHI:KMBKFBG:M>>FIEHRF>GM?HKJN:EB?B>=K>MBK>F>GM#HP>O>KBGMA><:L>H?JN:EB?B>=K>MBK>F>GMI:KMB<>BO>:=HEE:K:FHNGMMA:MBL>JNBO:E>GMMHMBF>LFHGMAER*-IK>FBNF:G=MA>RPBEEGHM;>>EB@B;E>?HKHNMIE:<>F>GM
L>KOB<>LEEI:RF>GML:G=HMA>K;>G>?BMLNG=>KMA>NMH=>LD$G<.>O>K:G<>+E:G:K>LN;C>PBMAAHE=BG@
H;EB@:MBHGLMA>I:KMBE>:L>H?:EEPBMA<>KM:BGGMB:EBMRG:GML:G=BGLHMA>K
MA:G:JN:EB?B>=K>MBK>F>GMGHG
=BLI:K:@>F>GM:G=GHG
LHEBG:GML
 LMBF:M>LH?MA>IHM>GMB:EI:RF>GML:G=;>G>?BMLI:R:;E>BGMA>>O>GMH?:M>KFBG:MBHGH?>FIEHRF>GMNG=>KMA>.>O>K:G<>
+E:G:K>L>M?HKMABG[A:G@>
BG
HGMKHEKK:G@>F>GML.>O>K:G<>+E:G->MBK>F>GMKK:G@>F>GML:G= FIEHRF>GM
@K>>F>GM\;>EHP2>BGM>G=MH>GM>KBGMH:FIEHRF>GME>MM>KPBMA(L+>:K<>PABM>KFL:G=
K>Q>L>O>K:G<>M>KFL:LP>EEBGKFL=BL=BGMA>G>QML>CDCIGDA(GDGLNK>MA>=L>KOB<>H?D>R>Q>H??B<>KLBGMA>>O>GMH?:IHM>GMB:EBGLDMA>
H:K=A:L:=HIM>=MA>NMH=>LD$G< Q>A:G@>BGHGMKHE+KH@K:F :K>FIEHR>>LBL:
I:KMBIKH@K:F/A>I:RF>GML:G=;>G>?BML:O:BE:;E>NG=>KMABLIKH@K:F:K>=>LB@G>=MH>GMA>=
L>KOB<>LH?MA>) *LBGMA>>O>GMH?:IHM>GMB:EBGLD:G=MH:EEHP?HK:LFHHMAE>:=>KLABIMK:GLBMBHG
MA>K>:?M>K!NKMA>KMA>L>:KK:G@>F>GML:K>BGM>G=>=MHIKHOB=>BG<>GMBO>LMHMA>) *LMH>Q>LMK:M>@B<BGBMB:MBO>LMA:M:K>
:EB@G>=PBMALMHKO:EN>:MBHG>O>GB?MA>L>BGBMB:MBO>LF:RK>LNEMBGMA>>EBFBG:MBHGH?:G) *^LIHLBMBHG
/A> Q>A:G@>BGHGMKHE+KH@K:FIKHOB=>L>O>GMH?:BGLB@G>=MH>GA:G<>LMHKO:EN>?NKMA>K+:RF>GM:G=;>G>?BMLNG=>KMA> Q>A:G@>BGHGMKHE+KH@K:F:K>
IKHOB=>=HGERBGMA>>O>GMH?:JN:EB?RBG@M>KFBG:MBHGH?>FIEHRF>GM?HEEHPBG@:BGMKB@@>K\	
NMH=>LD=H>LGHMH??>KM:QK>BF;NKL>F>GMHK[@KHLL
NI\I:RF>GMLNG=>KMA> Q>A:G@>BGHGMKHE+KH@K:F
/A>F:M>KB:EM>KFL:G= Q>A:G@>BGHGMKHE+KH@K:F:LP>EE:L:G>LMBF:M>H?MA>IHM>GMB:E
I:RF>GML:G=;>G>?BMLI:R:;E>BGMA>>O>GMH?:M>KFBG:MBHGH?>FIEHRF>GMBGBGLD
:K>L>M?HKMABG[A:G@>
BG
HGMKHEKK:G@>F>GML.>O>K:G<>+E:G->MBK>F>GMKK:G@>F>GML:G= FIEHRF>GM@K>>F>GM\
;>EHP
*:I>G:B:CI(GDK>H>DCH>C*+-6C9(+-GLNK>MA>=EHG@
M>KFL>KOB<>H?D>R>Q>H??B<>KLMAKHN@A:GHK=>KERK>MBK>F>GMMA>H:K=A:L:=HIM>=
K>MBK>F>GMIKHOBLBHGLBG-.0:G=+.0:@K>>F>GML>GM>K>=BGMHPBMA>Q>H??B<>KLLM:KMBG@BG(:KK>FIEHR>>LBL>EB@B;E>MHI:KMBBGMA>IKH@K:F/A>K>MBK>F>GM;>G>?BM:O:BE:;E>NG=>KMABLIKH@K:FBL
EBFBM>=MHI:KMB:E=O>LMBG@H?HNMLM:G=BG@-.0L:G=+.0L?HEEHPBG@:JN:EB?B>=K>MBK>F>GM:G=BL=>LB@G>=MH
>GMA>=EHG@
M>KFL>KOB<>LH?MA>) *L:G=MH:EEHP?HK:LFHHMAE>:=>KLABIMK:GLBMBHGNIHGMA>BKK>MBK>F>GM
0G=>KMA>K>MBK>F>GMIKHOBLBHGLBG-.0:G=+.0:@K>>F>GML=O>LMBG@BLIKHOB=>=HGERBGMA>>O>GMH?:JN:EB?RBG@
K>MBK>F>GM
/A>F:M>KB:EM>KFL:G=K>MBK>F>GMIKHOBLBHGL:LP>EE:L:G>LMBF:M>H?MA>IHM>GMB:E;>G>?BMI:R:;E>BG
MA>>O>GMH?:JN:EB?RBG@K>MBK>F>GM:K>L>M?HKMABG[A:G@>
BG
HGMKHEKK:G@>F>GML.>O>K:G<>+E:G->MBK>F>GM
KK:G@>F>GML:G= FIEHRF>GM@K>>F>GM\;>EHP
%6C96IDGN+ID8@'LC:GH=>EJ>9:A>C:H
/A>H:K=;>EB>O>LMA:MLMHKLABI;RHNK>Q>H??B<>KLBLBFIHKM:GMMHIKHFHM>:EHG@
M>KFI>KLI>:G=
:EB@GMA>BGM>K>LMLH?HNK>Q>H??B<>KLPBMAMAHL>H?HNKLMHKL2>A:O>:=HIM>=F:G=:MHKRLMHKLABI
@NB=>EBG>L?HKHNK>Q>H??B<>KLPABJNBK>>:Q>H??B<>KMHAHE=LA:K>LH?NMH=>LD^LJNBO:E>GMBGO:EN>MH:FNEMBIE>H?ABLHKA>K;:L>L:E:KR/ABLBLBGM>G=>=MH:M>:K@NB=>EBG>LMA:MMB>:IHKMBHGH?MA>
>Q>H??B<>K^LG>MPHKMAMHMA>I>K?HKF:G<>H?NMH=>LD^LLMH/A>GMLMHKLABI@NB=>EBG>L:K>:L
?HEEHPL
'
'I=:G+:C>DGM:8JI>K:H
(NEMBIE>H?:L>.:E:KR
MBF>L
MBF>L


 Q>H??B<>KLA:O>?HNKR>:KL?KHFMA>BKABK>HKIKHFHMBHGMH:IHLBMBHGLN;C>KHPG>KLABIMAK>LAHE=MH
L:MBL?RMA>K>JNBK>=E>O>EH?LMHKLABI!HKINKIHL>LH?L:MBL?RBG@MA>K>JNBK>=LMHKLABIE>O>ELA:K>LH?=:LLA:K>LHPG>=;NMHNMLM:G=BG@+.0L:K>GHM=NGMBEMA>LA:K>L
NG=>KERBG@MA>L>:P:K=LA:O>;>>G?NEER>:KG>=;:L>=HGI>K?HKF:G<>/A>H:K=K>OB>PLIKH@K>LL:@:BGLMMA>L>@NB=>EBG>L:G=
K>JNBK>F>GML:GGN:EER:G=NI=:M>LMA>F:L:IIKHIKB:M>LH?MA>FHLMK><>GMK>OB>PH?:MM:BGF>GM>:=
MA>HPG>KLABI@NB=>EBG>L
A6L768@(DA>8N
*G><>F;>KHNKH:K=:=HIM>=:LPBMAMA>NI=:M>=):L=:JEBLMBG@LM:G=:K=LMA:M
BFIE>F>GMMA>G>P. KNE>LNG=>KMA>H==
!K:GD2:EE.MK>>M->?HKF:G=HGLNF>K+KHM>E:MBG@MHMA>K>KR
H?>Q<>LLBG<>GMBO>
;:L>=GL:MBHG?KHFGM:G=?HKF>K>Q>H??>KLBGMA>>O>GMH?:G:<LM:M>F>GM
PA>MA>KHKGHMMA>>Q>H??B<>KP:L:M?:NEM?HKMA>K>LM:M>F>GM/A>LMHHNK>Q>H??B<>KL:L
=>?BG>=NG=>KMA>:IIEB<:;E>. KNE>L	/ABLIHEBLMH:EEBG<>GMBO>
;:L>=GL:MBHG:LLNKFBL=>?BG>=NG=>K
MA>G>P. KNE>L	PABLI>K?HKF:G<>
;:L>=:P:K=L@K:GM>=NG=>KHNK>JNBMRBG<>GMBO>IE:G:G=MA><:LA;HGNL
I:RF>GMLNG=>KMA>:GGN:E<:LABG<>GMBO>IE:GBGPABQ>H??B<>KLI:KMB
$G:==BMBHGMHMA>:=HIMBHGH?MA>G>POBHNLER:=HIM>=:??>Q>H??B<>K^L<:LABG<>GMBO>
;:L>=GL:MBHGMH;>K>K>=:MMA>=BLMBHGH?MA>H:K=
B?MA:MH??B<>KA:L>G@:@>=BG?K:N=NE>GMHKHMA>KBGM>GMBHG:EFBLFBL=:F:M>KB:EK>LM:M>F>GMH?HNK
?BG:GF>GML
:G>K6I>K:H,G69>C<6C9CI>	 :9<>C<6C9(A:9<>C<(DA>8N
*NKBGLB=>KMK:=BG@IHEBQ>H??B<>KLF>F;>KLH?MA>H:K=:G=:EEHMA>K>FIEHR>>L?KHFMK:=BG@
=>KBO:MBO>L>LK>E:M>=MHNMH=>LD^LLMHG@:@BG@BGLAHKML:E>LHKHMA>KLAHKM
IHLBMBHGMK:GL:LH?HNK
LMHLGHMK>LMKBKLABIH?=:P:K=LLNLA:K>LH?HNK;>>G@K:GM>=;RMA>HFFBMM>>/A>IHEBFIEHR>>LBGQ>H??B<>KL:G=F>F;>KLH?MA>H:K=?KHFA>=@BG@NMH=>LDLMHKPBL>
IE>=@BG@NMH=>LDL>L
FJ>INL6G9G6CI(DA>8N
/A>HFFBMM>>:IIKHO>L:EE>JNBMR:P:K=L@K:GM>=MHMA>>Q>H??B<>KLIIKHO:EH?MA>>JNBMR:P:K=L?HKMA>
>Q>H??B<>KL@>G>K:EERH<HFFBMM>>^LK>@NE:KERL=NE>=JN:KM>KERF>>MBG@?HKMA>?BKLMJN:KM>KH?>::K
:EMAHN@AHGH<<:LBHGMA>HFFBMM>>A:L:IIKHO>=G>P
ABK>K>M>GMBHGHKIKHFHMBHG@K:GMLHNMLB=>H?MA:M
;;:8I>K:*>H@%6C6<:B:CI
 ::KMA>HFFBMM>>>O:EN:M>LNMH=>LD^LGL:MBHG
K>E:M>=KBLDIKH?BE>/A>HFFBMM>>A:L=MA:MHNK
GL:MBHGIKH@K:FL=HGHM:M>KBLDLMA:M:K>K>:LHG:;EREBD>ERMHA:O>:F:M>KB:E:=O>KL>>??>LD
*:9:G6I>DCH6C9(G68I>8:H
NMH=>LDOB>PL:G=>O:EN:M>LMA>BFI:L:G=K>E:M>=BGM>KIK>M:MBHGLHG
MA>>Q>GL:MBHGIKH@K:F!HK>Q:FIE>MA>HFFBMM>>KL!BG:GLNEMLBGK>GL:MBHG>QI>GL>?HK
LA:K>
;:L>=I:RF>GM:P:K=L:G=.>H=>PAB?>KK>=GL:MBHG:KK:G@>F>GML:LBM>O:EN:M>L
LMKNL:G=BFIE>F>GMLLMHMA>IKH@K:F


:9J8I>7>A>IN$>B>I6I>DC
.>$GM>KG:E->O>GN>H=>EBFBMLMA>=>=NGL:MBHGI:B=MH<>KM:BG>Q>H??B<>KLMH
FBEEBHGI>KR>:K/A>HFFBMM>>A:L:G=PBEEMHK.>LM:;EBLABG@GL:MBHGH?HNK
>Q>L;NM:ELHKLHMA>K?:LLG>>=L$GM>KIK>M:MBHGLH?:G=LBG:IIEB<:;E>M:QE:PL:G=
K>@NE:MBHGL:LP>EE:LHMA>K?:RHG=HNK=NGL:MBHG!HKMA>L>:G=HMA>K
K>:LHGLMA>HFFBMM>>A:L=>M>KFBG>=MA:MBMPBEEGHMG><>LL:KBERL>>DMHEBFBM>Q>GL:MBHGMHMA>:FHNGMMA:MBL
=>=NNG=>K.>H=>
,6M6I>DCD;:;:GG:9DBE:CH6I>DC
.>H=>BFIHL>LLB@GB?B<:GM:==BMBHG:EM:Q>LBGMA>>O>GM:G>Q>H??B<>K=BK>KOB<>
IKHOB=>KK><>BO>L[=>?>KK>=GL:MBHG\MA:M=H>LGHML:MBL?RMA>K>LMKBIKHOBLBHG.>L
MH:PB=>K:G@>H?GL:MBHG:KK:G@>F>GMLBG==>?>KK>=GL:MBHGIE:GL<>KM:BG>JNBMR
:P:K=L:G=L>I:K:MBHG:KK:G@>F>GML/H:LLBLM>FIEHR>>LPBMA:OHB=BG@:==BMBHG:EM:Q>LNG=>K.>LDA:L
LMKN=>JNBMR:P:K=LBG:F:GG>KBGM>G=>=MH;>>Q>FIM?KHFHK:IIEB<:;E>.>DCD;QDA9:C(6G68=JI:R(6NB:CIH
.>H=>IKHOB=>MA:M>Q>H??B<>KL:G==BK>JNBMRBGM>K>LML
:G=<>KM:BGHMA>KL>KOB<>IKHOB=>KLF:R;>LN;C>QM:QB?BGBGRK><>BO>
I:RF>GMLHK;>G>?BMLMA:M>Q<>>=<>KM:BGIK>L=EBFBML$G:==BMBHGMA>K>E>O:GMLLHKF:R?HK?>BM:
=>=N:FHNGMLLN;C>LD=B=GHMIKHOB=>:GR>Q>H??B<>KPBMA:[@KHLL
NI\HK
HMA>KK>BF;NKL>F>GMI:RF>GM?HK:GRM:QEB:;BEBMRMA>>Q>FB@AMHP>:L:K>LNEMH?MA>:IIEB<:MBHGH?.>:K$G:==BMBHGNMH=>LDA:LGHM:@K>>=:G=BLGHMHMA>KPBL>H;EB@:M>=MHIKHOB=>:GR) *PBMA
LNKK>BF;NKL>F>GMHKMHHMA>KPBL>:==K>LLMA>:IIEB<:MBHGH?.>GMLHK;>G>?BML:KBLBG@?KHF:BGC<;DG+ID8@	6H:9DBE:CH6I>DC
NMH=>LD?HEEHPL<=GL:MBHG:P:K=L.
/HIB<K>JNBK>LNMH=>LDMHF>:LNK>MA>GL:MBHG>QI>GL>?HK:EELA:K>
;:L>=I:RF>GM:P:K=LF:=>MH>FIEHR>>L
BGQ>H??B<>KL	:G=F>F;>KLH?MA>H:K=BGLA:K>LH?=HGMA>
@K:GM=:M>[?:BKO:EN>\H?MA>L>:P:K=L!:BKO:EN>BL<:E=?HK:<L:G=K>IHKM>=BGMA>GL:MBHGM:;E>L
;>EHP>O>GMAHN@AMA>>Q>H??B<>KL:G==BK>O>KK>:EBS>:GRO:EN>?KHFMA>BK:P:K=L./HIB<:ELH
K>JNBK>LNMH=>LDMHK>MA>GL:MBHGL>LA:K>
;:L>=I:RF>GM:P:K=LBGMA>BGLM:M>F>GMLHO>KMA>
I>KBH=MA:M:G>FIEHR>>HK=BK>JNBK>=MHK>G=>KL>KOB<>BG>Q?HKMA>LMHK:P:K=
DBE:CH6I>DCDBB>II::*:EDGI
/A>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>H?MA>H:K=H?BK>=LHE>ERH?BG=>I>G=>GM
F>F;>KLH?MA>H:K=H?BK>H:K=BG?NE?BEEBG@BMLK>LIHGLB;BEBMB>LK>@:K=BG@GL:MBHGF:MM>KL:G=
INKLN:GMMHBMLKBLK>LIHGLB;E>?HK=>M>KFBGBG@MA>GL:MBHGH?NMH=>LD^L>Q>H??B<>KL/A>HFI>GL:MBHG
:G=#NF:G->LHNK<>LHFFBMM>>A:LK>OB>P>=:G==BL=MA>HFI>GL:MBHGBL=BGMABL
GGN:E->IHKMPBMAF:G:@>F>GM:L>=HGMABLK>OB>P:G==BLHFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>
A:LK>G=>=MHMA>H:K=H?BK>HFI>GL:MBHGBLBG=BGMABLGGN:E->IHKM
*(+ )./$*))#0()- .*0- .*(($//  *!/# *-*!$- /*-.
(:KR/(<HP>EEA:BK
->B=!K>GDC,67A:
/A>.NFF:KRHFI>GL:MBHG/:;E>;>EHPIK>L>GMLBG?HKF:MBHGKGBG@MA>MHM:EGL:MBHGH?HNKG:F>=
>Q>H??B<>KL?HK?BL<:ER>:KL:G=
&6B:9M:8JI>K:';;>8:G
6C9(G>C8>E6A(DH>I>DC
>H86A
1:6G
+6A6GN

DCJH


+ID8@
L6G9H

&DC	FJ>IN
!C8:CI>K:
(A6C
DBE:CH6I>DC

AA'I=:G
DBE:CH6I>DC

,DI6A

G=K>PG:@GHLM

 

Z
 




 
+K>LB=>GM:G=AB>? Q>

 

Z
 

Z


 
*??B<>K	

 

Z
 

Z

Z
 
>;HK:A'EB??HK=




Z








!HKF>K Q>1B<>+K>LB=>GM
:G=AB>?!BG:GK



 



Z




NKK>GMAB>?.MK:M>@R*??B<>K	







 
.M>O>G(ENF




Z








 Q>1B<>+K>LB=>GM:G=




Z



Z




AB>?*I>K:MBG@*??B<>K	




Z



Z

Z


-NMAGG&>>G>




Z








 Q>1B<>+K>LB=>GM






Z




HKIHK:M>??:BKLAB>?'>@:E
*??B<>K:G=HKIHK:M>.>M:KR	
->;><<:+>:K<>




Z








 Q>1B<>+K>LB=>GM:G=






Z




AB>?+>HIE>*??B<>K	
8888888888888
	
->IK>L>GMLI:RF>GMLF:=>MHHNKG:F>=>Q>H??B<>KL?HK:FHNGMLMA:MK>E:M>MHLB@GBG@;HGNL>L:G=I:RF>GMLF:=>BG
K>:KLH?L>KOB<>:LI:KMH?:GNMH=>LDIKH@K:F
 FHNGML:@@K>@:M>@K:GM=:M>O:EN>?HK+.0:G=-.0:P:K=L=BG:<PBMA!../HIB<;:L>=
HGM:K@>ME>O>ELH?:O>F>GMMA>IKH;:;E>HNM:M@K:GM	BGMA><:L>H?+.0L:G==H>LGHMK>?E>:KG>=/A>
:LLNFIMBHGLNL>=BGMA>O:EN:MBHGH?MA>L>:P:K=L:K>L>M?HKMABG+:KM$$$M>F!BG:GF>GML:G=.NIIE>F>GM:KR:M:)HM>
[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\BGMABLGGN:E->IHKMHG!HKF
&/A>F:QBFNFO:EN>H?+.0:P:K=L
@>G>K:EERBL<:II>=:MH?M:K@>M?HK?BL<:ER>:KMAKHN@A?BL<:ER>:K/A>F:QBFNFO:EN>L?HK+.0:P:K=L@K:GM>=BG
?BL<:ER>:K:K>:L?HEEHPLKG:@GHLM(LEB??HK=(KENF(L&>>G>
:G=(L+>:K<>:KG>=BG?BL<:ER>:K;RMA>G:F>=>Q>H??B<>KL:K>LAHPGBG['HG@
/>KF
$G<>GMBO>HFI>GL:MBHGBGMA>HFI>GL:MBHGBL@K:GM=:M>?HKO:EN>?HK+.0LBLLN>=
INKLN:GMMHMA>;HGNLMH>JNBMR>QIKH@K:F=BL=BG[GGN:E.AHKM
/>KF$G<>GMBO>HFI>GL:MBHG\BGMA>HFI>GL:MBHG
BLIK>L>GML:FHNGML>:KG>=?HKL>KOB<>LI>K?HKF>==NKBG@MA>K>E>O:GM?BL<:ER>:KINKLN:GMMHHNKLAHKM
M>KF<:LABG<>GMBO>IE:G[ $+\	
?HK:EE>Q>H??B<>KLLAHPG/A>:FHNGMLLAHPGK>?E>MHM:E<:LA:FHNGML:P:K=>=NG=>KMA> $+PABI:R:;E>BGMA>?BKLM
JN:KM>KH?MA>?HEEHPBG@?BL<:ER>:K
	
->IK>L>GML:EEHMA>KGL:MBHG?HKMA>K>E>O:GM?BL<:ER>:KGHMK>IHKM>=BGMA>IK>OBHNL=?:FBEB:EMK:O>EBG
LLMKBILNMH=>LD^LF:M
M:QL:OBG@LIE:GLNMH=>LD^L=HG:MBHGF:M
IK>FBNFLI>KLHG:E@B?ML:G=K>E:M>=M:Q@KHLLNIL">G>K:EERNGE>LLMA>BM>FLBG=BGMABL<:M>@HKR>Q<>>=MA>@K>:M>KH?HK
H?MA>MHM:E:FHNGMH?I>KJNBLBM>LK><>BO>=;R:@BO>GG:F>=>Q>H??B<>KBG=BOB=N:EI>KJNBLBM>L:K>GHML>I:K:M>ERB=>GMB?B>=
:G=JN:GMB?B>=
	
KG:@GHLMLHMA>KGL:MBHG?HK?BL<:EBGL:NMAHKBS>=>Q>:G=LIHNL>MK:O>EBGLL
MKBI:G=M:Q@KHLL
NILH??HK<>KM:BGI>KJNBLBM>L
	
(LEB??HK=^LHMA>KGL:MBHG?HK?BL<:EBGL:NMAHKBS>=>Q>:G=LIHNL>MK:O>EBGLL
MKBI:G=M:Q@KHLL
NILH??HK<>KM:BGI>KJNBLBM>L
	
(KENF^LHMA>KGL:MBHG?HK?BL<:EBGL:NMAHKBS>=>Q>:G=LIHNL>MK:O>EBGLL
MKBIL:G=M:Q@KHLL
NILH??HK<>KM:BGI>KJNBLBM>L
	
(L&>>G>^LHMA>KGL:MBHG?HK?BL<:EBGL:NMAHKBS>=>Q>:G=LIHNL>MK:O>EBGLL
MKBI:G=M:Q@KHLL
NILH??HK<>KM:BGI>KJNBLBM>L(L&>>G>P:LGHM:G:F>=>Q>H??B<>K=NKBG@?BL<:E
	
(L+>:K<>^LL:E:KR:G=HMA>KGL:MBHG:K>I:B=HKIKHOB=>=BGKBMBLA+HNG=L/A>:FHNGMLK>IK>L>GMMA>:IIKHQBF:M>=HEE:KO:EN>
H?A>K;:L>L:E:KRKM>=MH0.=HEE:KLNLBG@MA>KBMBLA+HNG=MH=HEE:K>QK:M>LH?:G=PABIK>L>GM:G:O>K:@>
?HK?BL<:ER>:KL:G=K>LI>ER(L+>:K<>^LHMA>KGL:MBHG?HK?BL<:EBGL?HK>FIEHR>K
GLBHGIE:G(L+>:K<>^LHMA>KGL:MBHG?HK?BL<:E:ELHBGL:<:K:EEHP:G<>:G=A>:EMABGLNK:G<>
IK>FBNFL(L+>:K<>P:LGHM:G:F>=>Q>H??B<>K=NKBG@?BL<:E


G6CIHD;(A6C	6H:9L6G9H>C>H86A1:6G
"K:GMLH?IE:G
;:L>=:P:K=LK>?E>MHHNKG:F>=>Q>H??B<>KLNG=>KHNKGHG
>JNBMRBG<>GMBO>IE:GL:G=
>JNBMRGL:MBHGIE:GL=NKBG@?BL<:ER>:K/A>?HEEHPBG@M:;E>LBGIHM>GMB:EMAK>LAHE=M:K@>M:G=F:QBFNF
:FHNGMLI:R:;E>NG=>KHNK $+?HKI>K?HKF:G<>=NKBG@?BL<:ER>:K:G==HGHMGL:MBHGHGMHIH?MA>
:FHNGMLBG=BGMA>.NFF:KRHFI>GL:MBHG/:;E>#HP>O>KMA>L>:FHNGML=HGHMK>?E>:KG>=?HK
?BL<:ER>:K/A>?HEEHPBG@M:;E>:ELHBGL:FHNGMLK>E:MBG@MH+.0L:G=-.0LBLLN>=NG=>KHNK.MHGMBO>+E:G.>>[GGN:E.AHKM
/>KF$G<>GMBO>HFI>GL:MBHG:G=['HG@
/>KF$G<>GMBO>HFI>GL:MBHGBG
MA>HFI>GL:MBHGBL:KG>=BG?BL<:ER>:K;RMA>G:F>=>Q>H??B<>KL:G=
?NKMA>K=BL=:G=HMA>K:P:K=L
/A>?HEEHPBG@M:;E>LIK>L>GMBG?HKF:MBHGKGBG@@K:GMLH?IE:G
;:L>=:P:K=LMH>:G:F>=>Q>H??B<>KL
=NKBG@?BL<:ER>:K
HI>B6I:9JIJG:(6NDJIH-C9:G&DC	
FJ>IN!C8:CI>K:(A6CL6G9H
HI>B6I:9JIJG:(6NDJIH-C9:G
FJ>IN!C8:CI>K:(A6CL6G9H
AA'I=:G
+ID8@
L6G9H
&JB7:GD;
+=6G:HD;
+ID8@
G6CI6I:
6>G.6AJ:
D;+ID8@
L6G9H

&6B:9
M:8JI>K:
';;>8:G
L6G9
,NE:
G6CI
6I:

,=G:H=DA9

,6G<:I
%6M>BJB

,=G:H=DA9

,6G<:I

%6M>BJB

G=K>P
 $+

Z

Z
 
  
Z 
Z 
Z 
Z

Z
G:@GHLM
-.0


Z

Z

Z

Z

Z

Z




+.0


Z

Z

Z

Z
 



Z


+.0


Z

Z

Z

Z
 



Z


+.0


Z

Z

Z

Z
 



Z


>;HK:A'
 $+

Z

Z


 

Z

Z

Z

Z

Z
EB??HK=
-.0


Z

Z

Z

Z

Z

Z




+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z






.M>O>(
 $+

Z

Z


 

Z

Z

Z

Z

Z
ENF
-.0


Z

Z

Z

Z

Z

Z




+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z

Z





Z


-NMAGG
 $+

Z

Z


 

Z

Z

Z

Z

Z
&>>G>
-.0


Z

Z

Z

Z

Z

Z




+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z






->;><<:
 $+

Z

Z





Z

Z

Z

Z

Z
+>:K<>	
-.0


Z

Z

Z

Z

Z

Z




+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z

Z





Z


+.0


Z

Z

Z

Z






8888888888888
	
->?E>=:M>HGPABHFFBMM>>:IIKHO>=MA>@K:GMH?:G>JNBMR:P:K=HKB?E:M>KBGMA><:L>H?:+.0:P:K=MA>=:M>HG
PABHFFBMM>>>LM:;EBLA>=MA>I>K?HKF:G<>F>MKB<NG=>KERBG@LNGMMA>K>H?
	
->?E>M:G=F:QBFNF=HEE:K:FHNGMLI:R:;E>NG=>KMA> $+?HKI>K?HKF:G<>=NKBG@?BL<:ER>:K:L=>L=BG
[HFI>GL:MBHGBLF>GMLH?MA> Q>HFI>GL:MBHG+KH@K:F\[/AK>LAHE=\K>?>KLMHMA>
FBGBFNF:FHNGMI:R:;E>?HK:<>KM:BGE>O>EH?I>K?HKF:G<>[/:K@>M\K>?>KLMHMA>:FHNGMI:R:;E>B?LI>=I>K?HKF:G<>M:K@>ML:K>
K>:=:G=[(:QBFNF\K>?>KLMHMA>F:QBFNFI:RHNMIHLLB;E>
	
 Q<>IM:L=>L=;>EHPK>IK>L>GMLLA:K>LH?HNK:+.0:P:K=L@K:GM>=MHMA>G:F>=>Q>
H??B<>KLBG?BL<:ER>:KNG=>K;HMAMA>.MHGMBO>+E:G/A>L>:P:K=LMA:MP>K>
IHLLB;E>:MMA>MAK>LAHE=M:K@>M:G=F:QBFNFE>O>ELH?I>K?HKF:G<>.A:K>LP>K>MH;>>:KG>=;:L>=NIHG:MHM:EK>O>GN>:G=?K>><:LA
?EHP@H:E?HK?BL<:ER>:K:=HIM>=;RMA>HFFBMM>>MA>[GGN:E!BG:GLNEML\	:LP>EE:L/.-=:@:BGLMMA>
LBGMA>.+HFINM>K.H?MP:K>.>E>QHKMA>.+)HKMAF>KB<:G/>$G=>QPBMA:F:KD>M
<:IBM:EBS:MBHGHO>K;BEEBHG[->E:MBO>/.-\	$G>:GGN:E!BG:GLNEML?HKMA>K>E>O:GMI>K?HKF:G<>I>KBH=LNEM
BG+.0:MM:BGF>GMLN;C>->E:MBO>/.-FH=B?B>KH?
H?M:K@>M*G<>MA>GGN:E!BG:GLNEMLI>K<>GM:@>BL
>LM:;EBLA>=BMBLFNEMBIEB>=;R:I>K<>GM:@>K:G@BG@?KHF
=>I>G=BG@HGNMH=>LDL->E:MBO>/.-I>K?HKF:G<>?HKMA>I>KBH=
0EMBF:M>ER+.0L>:KG>=?KHF
H?M:K@>M:KG>=BG?BL<:ER>:K;RMA>G:F>=>Q>
H??B<>KLNG=>KMABLIKH@K:F:K>LAHPGBG['HG@
/>KF$G<>GMBO>HFI>GL:MBHG\BGMA>HFI>GL:MBHGBL=HGIKBEO>LMBGMAK>>>JN:E:GGN:EBGLM:EEF>GML;>@BGGBG@HG(:K?E>@K:GM=:M>?:BKO:EN>H?>:JNBMR:P:K=/A>:LLNFIMBHGLNL>=BGMA>O:EN:MBHGH?MA>L>:P:K=L:K>L>M?HKMABG+:KM$$
$M>F!BG:GF>GML:G=.NIIE>F>GM:KR:M:)HM>[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM<L\BGMA>)HM>L
MHHGLHEB=:M>=!BG:GF>GMLBGMABLGGN:E->IHKMHG!HKF
&/A>L>:FHNGML=HGHMLIHG=MHMA>:MA:MPBEE
;>K>:EBS>=;RMA>G:F>=>Q>H??B<>KLNIHGMA>O>LMBG@H?-.0LHKMA>L:E>H?MA>KERBG@LN:K<>^L;:L>L:E:KRBLI:B=BGKBMBLA+HNG=L/A>:FHNGMLBGMA>E:LMKHPK>IK>L>GMMA>:IIKHQBF:M>=HEE:KO:EN>H?A>KM:K@>M:G=
F:QBFNF=HEE:K:FHNGMLI:R:;E>NG=>KMA> $+?HKI>K?HKF:G<>=NKBG@?BL<:ER>:KNLBG@A>K;:L>L:E:KRKM>=MH0.=HEE:KL
NLBG@MA>KBMBLA+HNG=MH=HEE:K>QK:M>H?PABIK>L>GM:G:O>K:@>?HK?BL<:ER>:K
'JIHI6C9>C<FJ>INL6G9H6I>H86A1:6G1:6GC9
/A>?HEEHPBG@M:;E>IK>L>GMLBG?HKF:MBHGKGBG@HNMLM:G=BG@NGO>LM>=-.0:G=+.0:P:K=L?HK>:=
>Q>H??B<>K:LH?%:GN:KR/ABLM:;E>BGL-.0L:G=+.0L@K:GM>=NG=>KMA>:G=.MHLLHMA>KPBL>BG=B<:M>=:EE-.0:P:K=LO>LMBGMAK>>>JN:E:GGN:EBGLM:EEF>GML;>@BGGBG@HGMA>?BKLM:GGBO>KL:KRH?MA>=:M>
H?@K:GM
+ID8@L6G9H
&6B:9M:8JI>K:';;>8:G
G6CI
6I:
&JB7:GD;+=6G:HD;
+ID8@,=6I 6K:&DI
.:HI:9

%6G@:I.6AJ:D;+=6G:HD;
+ID8@,=6I 6K:&DI
.:HI:9

G=K>PG:@GHLM



	










	










	











	










	










	







.M>O>G(ENF



	










	















	







-NMAGG&>>G>



	





	










	







->;><<:+>:K<>



	















	










	







8888888888888
	
(:KD>MO:EN>H?-.0L:G=+.0LMA:MA:O>GHMO>LM>=BL=;RFNEMBIERBG@B	MA>HGMA>):L=:JH?
NMH=>LDE:LMMK:=BG@=:RH??BL<:ER>:K;RBB	MA>GNF;>KH?LA:K>LH?LMHKERBG@
MA>:IIEB<:;E>:P:K=
	
P:K=LK>E:M>MHMA>MABK=
R>:KMK:GH?+.0:P:K=L@K:GM>=HGIKBENG=>KMA>+E:G/A>L>+.0LP>K>LN;C>O>F>GMH?:MHM:EK>O>GN>:G=?K>><:LA?EHP@H:E?HK?BL<:ER>:K:=HIM>=;RMA>HFFBMM>>:LP>EE:L->E:MBO>/.-/ABL
MK:GP:L>:KG>=:LH?%:GN:KR:G=LN;C>LMHG(:KE:M>=MHMA>L>:KMK:GLH?+.0:P:K=L@K:GM>=HGIKBENG=>KMA>+E:G/A>L>:K
MK:GH?MA>L>+.0LP:LLN;C>O>F>GMH?:MHM:EK>O>GN>:G=?K>><:LA?EHP@H:E?HK?BL<:ER>:K:=HIM>=;RMA>
HFFBMM>>:LP>EE:L->E:MBO>/.-/A>L>:KMK:GP:L>:KG>=:LH?%:GN:KR:G=LN;C>LMHG(:KE:M>=MHMA>?BKLM
L>:KMK:GLH?+.0:P:K=L@K:GM>=HGIKBENG=>KMA>+E:G/A>?BKLM
R>:KMK:GH?MA>L>+.0LP>K>LN;C>O>F>GMH?:MHM:EK>O>GN>:G=?K>><:LA?EHP@H:E?HK?BL<:ER>:K:=HIM>=;RMA>
HFFBMM>>:LP>EE:L->E:MBO>/.-/A>?BKLM
R>:KMK:GP:L>:KG>=:LH?%:GN:KR:G=LN;C>LMHG(:K=MH(L&>>G>HG%:GN:KRO>LMI>KMA>M>KFLH?A>K>FIEHRF>GM:@K>>F>GM
'EI>DCM:G8>H:H6C9+ID8@.:HI:9>C>H86A1:6G
/A>K>P>K>GHLMHQ>K=;R:GRH?MA>G:F>=>Q>H??B<>KL=NKBG@?BL<:ER>:K/A>?HEEHPBG@M:;E>
IK>L>GMLBG?HKF:MBHGKGBG@MA>O>LMBG@H?LMHE=;R>:G:F>=>Q>H??B<>KL=NKBG@?BL<:ER>:K

+ID8@L6G9H
&6B:9M:8JI>K:';;>8:G
&JB7:GD;+=6G:H8FJ>G:9DC
.:HI>C<
.6AJ:*:6A>O:9DC
.:HI>C<

G=K>PG:@GHLM



>;HK:A'EB??HK=



.M>O>G(ENF



-NMAGG&>>G>



->;><<:+>:K<>



88888888888888
	
->?E>GNF;>KH?LA:K>L:=HGO>LMBG@H?-.0LHK+.0LFNEMBIEB>=;RMA>MIKB<>H?HNKIHKM>=HGMA>):L=:JHGMA>O>LMBG@=:M>
&DCFJ6A>;>:9:;:GG:9DBE:CH6I>DC;DG>H86A1:6G
0G=>KHNK)HGJN:EB?B>=>?>KK>=HFI>GL:MBHG+E:G<>KM:BG0.
;:L>=H??B<>KLBG=>Q>H??B<>KL	
F:R=>?>KGL:MBHG>:KG>=LNKMA> $+>?>KK:E>E>F:=>;R>EB@B;E>>Q>
H??B<>KL>::K=NKBG@:GHI>G>GKHEEF>GMI>KBH=?HK:FHNGMLMH;>>:KG>=BGMA>?HEEHPBG@R>:KNMH=>LD=H>LGHMF:D>
:GRQ>H??B<>KLNG=>KMA>)HGJN:EB?B>=>?>KK>=HFI>GL:MBHG+E:G+KBHKMHIKBEP>F:BGM:BG>=
MA>NMH=>LD$G< JNBMR$G<>GMBO>>?>KK:E+E:GPABKFBMM>=<>KM:BG>Q>H??B<>KLMH=>?>KNIMHH?MA>BK $+
:P:K=
/A>?HEEHPBG@M:;E>IK>L>GMLBG?HKF:MBHGK>@:K=BG@GHG
JN:EB?B>==>?>KK>=GL:MBHG::=H??B<>K
=NKBG@?BL<:ER>:K
&6B:9M:8JI>K:';;>8:G
M:8JI>K:DCIG>7JI>DCH
>HIG>7JI>DCH>C>H86A
1:6G
<CC
>H86A1:6G

<H86A1:6GC9
G=K>PG:@GHLM





>;HK:A'EB??HK=





.M>O>G(ENF
Z




-NMAGG&>>G>
Z

Z

Z
->;><<:+>:K<>
Z

Z

Z
8888888888888
	
)HG>H?MA>>:KGBG@LHKEHLL>LBGMABLK>?E>=BGMA>.NFF:KRHFI>GL:MBHG/:;E>;><:NL>MA>R:K>GHMK>=
IK>?>K>GMB:EHK:;HO>F:KD>M
'(6N*6I>D
$G:<PBMA. KNE>LP>:K>IKHOB=BG@MA>K:MBHH?MA>:GGN:EMHM:EGL:MBHGH?HNK *MHMA>:GGN:EMHM:E
GL:MBHGH?HNKF>=B:G>FIEHR>>>Q?BL<:ER>:K:GGN:EMHM:EGL:MBHGH?HNK *P:L
/A>?BL<:ER>:K:GGN:EMHM:EGL:MBHGH?HNKF>=B:GGL:M>=>FIEHR>>P:L:G=MA>K:MBH
H?MA>L>:FHNGMLP:LMH


/HB=>GMB?RMA>F>=B:G>FIEHR>>P>>Q:FBG>=MA>GL:MBHGH?HNK?NEE
:G=I:KM
MBF>>FIEHR>>LHMA>KMA:GHNK
 *	:LH?MA>E:LM=:RH?HNK?BL<:ER>:K2>NL>=M:K@>MMHM:E=BK>GL:MBHG:LHNKGMER:IIEB>=GL:MBHG
F>:LNK>/:K@>MMHM:E=BK>GL:MBHG?HKMABLINKIHL>=H?>:FIEHR>>^L>LMBF:M>=L:E:KR>:KGBG@LM:K@>MGHG
>JNBMRBG<>GMBO>HIIHKMNGBMR:G=MA>?:BKF:KD>MO:EN>IKB<>H?ABLHKA>K>JNBMRBG<>GMBO>:P:K=L@K:GM>=BG?BL<:ER>:K
2>:ELHKM>=:EE>FIEHR>>GL:MBHGHG:=HGMA>:IIEB<:;E>R>:K
>G=
>QK:M>?M>KB=>GMB?RBG@MA>F>=B:G>FIEHR>>P><:E=MA>:GGN:EMHM:EGL:MBHG?HKLNFIEHR>>NLBG@MA>
L:F>F>MAH=HEH@RMA:MP>NL>=?HKHNK) *L:LL>M?HKMABGMA>.NFF:KRHFI>GL:MBHG/:;E>$G?BL<:ER>:KMA>I:R
K:MBHBG:L>=R>:K
HO>K
R>:K;:L>=E:K@>ERNIHG:GBG:L>BGO:KB:;E>LMH=GL:MBHG?HKHNK *
/A>I:RK:MBHK>IHKM>=:;HO>BL:K>:LHG:;E>>LMBF:M><:E=BG:F:GG>KGMPBMA. KNE>L;:L>=HGHNK
BGM>KG:EK>F>MAH=HEH@R=>L=:;HO>/A>. KNE>L?HKB=>GMB?RBG@MA>F>=B:GGL:M>=>FIEHR>>:G=
<:EI:RK:MBH;:L>=HGMA:M>FIEHR>>^L:GGN:EMHM:EGL:MBHG:EEHPLMH:=HIM:O:KB>MRH?
F>MAH=HEH@B>LMH:IIER<>KM:BG>QK>:LHG:;E>>LMBF:M>L:G=:LLNFIMBHGLMA:MK>?E>BK>FIEHR>>
IHINE:MBHGL:G=GL:MBHGIK:L<I:RK:MBHK>IHKM>=;RHMA>KLF:RGHM;>MHMA>
I:RK:MBHK>IHKM>=:;HO>:LHMA>KLA:O>=B??>K>GM>FIEHR>>IHINE:MBHGL:G=GL:MBHGIK:L:G=F:RNL>
=B??>K>GMF>MAH=HEH@B>L>QLMBF:M>L:G=:LLNFIMBHGLBG<:EBKHPGI:RK:MBHL
=6C<:	>C	DCIGDAGG6C<:B:CIH+:K:G6C8:(A6C*:I>G:B:CIGG6C<:B:CIH6C9BEADNB:CI??HKMMH>GLNK>MA>=L>KOB<>H?HNK>Q>H??B<>KLBGMA>>O>GMH?:BG:Q>H??B<>KLHMA>KMA:GHNK *	I:KMBLBG:G Q>A:G@>BGHGMKHE+KH@K:FMA>[+KH@K:F\	MA:MP:L
BGBMB:EER:IIKHO>=;RMA>H:K=BG(:K<>GMER:F>G=>=:G=K>LM:M>=;RMA>HFFBMM>>BGIKBEK
G:@GHLMA:L:
BG
FIEHRF>GM:@K>>F>GM:LGHM>=;>EHP==BMBHG:EERBGN@NLMMA>
HFFBMM>>:=HIM>=MA>NMH=>LD$G<.>O>K:G<>+E:GMA>[.>O>K:G<>+E:G\	MH>LM:;EBLALM:G=:K=>Q>L>O>K:G<>M>KFL
:G=MHFBGBFBS>MA>G>>=MHG>@HMB:M>BG=BOB=N:EBS>=>Q>L>O>K:G<>M>KFLBGMA>?NMNK> :GM>Q>
H??B<>KLHMA>KMA:GHNK *	A:L;>>G=>LB@G:M>=;RMA>HFFBMM>>MHI:KMBBGMA>.>O>K:G<>+E:G/A>H:K=:=HIM>=
K>MBK>F>GMIKHOBLBHGLBG-.0:G=+.0:@K>>F>GML>GM>K>=BGMHPBMA>Q>H??B<>KLLM:KMBG@BG(:KG=>=MA>
.>O>K:G<>+E:GBG(:K;>G>?BML?HK>Q>H??B<>KLPAHOHENGM:KBERM>KFBG:M>MA>BK>FIEHRF>GM?HK:
[JN:EB?B>=K>MBK>F>GM\:L=>?BG>=NG=>KMA>.>O>K:G<>+E:G :GM>Q>H??B<>KLBL>EB@B;E>MHK><>BO>MA>
K>MBK>F>GM;>G>?BML:EMAHN@AHGERMPHH?HNK>Q>H??B<>KLGMERF>>MMA>K>JNBK>F>GMLMHA:O>:JN:EB?RBG@K>MBK>F>GM
NG=>KMA>IKHOBLBHGL
M:8JI>K:=6C<:>CDCIGDA(GDKMA>M>KFLH?MA>+KH@K:FB?PBMABG=:RLIKBHKHKFHGMAL?HEEHPBG@:[BGQ>
H??B<>KPAHI:KMBLBGMA>+KH@K:FBLM>KFBG:M>=PBMAHNM[<:NL>\HKOHENGM:KBERM>KFBG:M>LABLHKA>K>FIEHRF>GM?HK
[@HH=K>:LHG\:LMAHL>M>KFL:K>=>?BG>=BGMA>+KH@K:F	MA>>Q>H??B<>KPBEEK><>BO>:FHG@HMA>K;>G>?BML	?HEEHPBG@
>Q>E>:L>:G=GHG
LHEB>F>GM
X
G:FHNGM>JN:EMHMBF>LMA>LNFH?MA>I:KMBL:E:KR:G=M:K@>M:GGN:E;HGNLIENLMA>I:KMBM;HGNLIKHOB=>=MA>>Q>H??B<>KP:L>EB@B;E>MHK><>BO>LNBG:ENFILNF?HK
->;><<:+>:K<>LNGMPHNE=;>BGH?:GRL>O>K:G<>HKI:RF>GMK><>BO>==NKBG@HKBGK>E:MBHGMH
A>KGHMB<>I>KBH=	
X
<<>E>K:MBHGH?:EEH?MA>I:KMBGMBO>>JNBMR:P:K=LBGO>LM>=:MMA>[M:K@>M\E>O>EL>M?HKMABGMA>:IIEB<:;E>GHMB<>H?@K:GM	
X
->BF;NKL>F>GMH?MA>MHM:E:IIEB<:;E>IK>FBNF=B<:E:G==>GM:EK:@>?HKMA>I:KMBK
>EB@B;E>LIHNL>:G==>I>G=>GMLNGMBEMA>>:KEB>KH?FHGMAL?KHFMA>=:M>H?M>KFBG:MBHGHKPA>GMA>I:KMBL
K>=NG=>K:GHMA>K>FIEHR>K^L>FIEHR>>;>G>?BMIE:GL?HK->;><<:+>:K<>LNGMBLGHM:IIEB<:;E>	:G=
X
G>Q>H??B<>KPAHBLM>KFBG:M>=?HK:GRHMA>KK>:LHGPBEEK><>BO>L>O>K:G<>HKHMA>K;>G>?BMLHGERMHMA>>QM>GMMA>
>Q>PHNE=;>>GMBME>=MHK><>BO>MA>FNG=>KHNKMA>G
>QBLMBG@;>G>?BMIE:GL:G=IHEBL$?MA>;>G>?BMLIKHOB=>=
NG=>KMA>+KH@K:FI:K:I:RF>GMLNG=>K.>H=>:G=:K>LN;C>>QM:Q
BFIHL>=;R.>H=>MA>GLNG>?BMLPBEE;>	=>EBO>K>=BG?NEEHK	=>EBO>K>=MHLNLL>K>QM>GM
MA:MPHNE=K>LNEMBGGHIHKMBHGH?MA>;>G>?BML;>BG@LN;C>>QM:QPABO>KK>LNEMLBGMA>>Q>H??B<>K
K><>BOBG@MA>@K>:M>LM:FHNGMH?;>G>?BML
L=>?BG>=BGMA>+KH@K:F:[BGKLHG:LHKFHK>H?MA>MHM:EOHMBG@IHP>K
K>IK>L>GM>=;ROHMBG@L>LB?NMH=>LDL>EEL:EEHKLN;LM:GMB:EER:EEBML:LL>MLB?NMH=>LDF>K@>LHKLPBMA
:GHMA>KH:K=LLN;LM:GMB:EER


+:K:G6C8:(A6C
,:GB>C6I>DC/>I=DJI6JH:DG;DGDD9*:6HDC
0G=>KMA>M>KFLH?MA>.>O>K:G<>+E:GB?:I:KMB.>O>K:G<>+E:GBLM>KFBG:M>=PBMAHNM[<:NL>\HKOHENGM:KBER
M>KFBG:M>LABLHKA>K>FIEHRF>GM?HK[@HH=K>:LHG\:LMAHL>M>KFL:K>=>?BG>=BGMA>.>O>K:G<>+E:G	MA>GBG:==BMBHGMH
I:RF>GMH?:<=;:L>L:E:KRO:<:MBHG:G=:GRIK>OBHNLER:P:K=>=;NMNGI:B=;HGNLMA>I:KMB>EB@B;E>MH
K><>BO>MA>?HEEHPBG@;>G>?BMLNG=>KMA>.>O>K:G<>+E:GLN;C>Q>E>:L>:G=PBMA<>KM:BGGHG
=BLI:K:@>F>GMGHG
LHEBGMB:EBMRG:GML
X
ENFILNFI:RF>GM>JN:EMHMA>LNFH?:	MBF>LMA>I:KMBI:R:LBG>??>=:M>H?M>KFBG:MBHG
:G=;	MBF>LMA>I:KMBM:GGN:E<:LA;HGNLBG<>GMBO>:FHNGMNG=>KNMH=>LD^L:GGN:E<:LA;HGNL
BG<>GMBO>IE:G:IIEB<:;E>MHMA>I:KMB??>=:M>H?M>KFBG:MBHG?HK->;><<:+>:K<>LNGMPHNE=;>BGH?:GRL>O>K:G<>HKI:RF>GMK><>BO>==NKBG@HKBGK>E:MBHGMHA>KGHMB<>I>KBH=	
X
<<>E>K:M>=O>LMBG@H?MA>I:KMB
;:L>=-.0LMA:MPHNE=A:O>;>O>LM>=A:=MA>I:KMBF:BG>=
FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>M>KFBG:MBHG
X
HGMBGN>=O>LMBG@H?MA>I:KMB;>O>LM>=A:=MA>I:KMBF:BG>=FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>M>KFBG:MBHG;:L>=HGMA>>QM>GMMHPABNG=>KERBG@
I>K?HKF:G<>KB:PBMAK>LI>L:MBL?B>=?HKLNK?HKF:G<>I>KBH=
X
M:Q:;E>ENFILNFI:RF>GMBG:G:FHNGM>JN:EMHMBF>LMA>FHGMAERIK>FBNFMA:MMA>I:KMBK>JNBK>=
MHI:RMHMA>BK@KHNIA>:EMAK:@>B?MA>I:KMB:MBF>ER>E>K*-?HK->;><<:
+>:K<>LNGMBLGHM:IIEB<:;E>	:G=
X
HFI:GR
IKHOB=>=HNMIE:<>F>GML>KOB<>LBG:<PBMANMH=>LD^LMA>G
:IIEB<:;E>HNMIE:<>F>GML>KOB<>IKH@K:F
HK:KK:G@>F>GML?HKFHGMALBFF>=B:M>ER?HEEHPBG@MA>=:M>H?M>KFBG:MBHG
*:I>G:B:CI
$G(:K:F>G=>=MA>.>O>K:G<>+E:GMHIKHOB=>:==BMBHG:E;>G>?BMLMHI:KMBKFBG:M>
>FIEHRF>GM?HKJN:EB?B>=K>MBK>F>GM$?:I:KMBKFBG:MBHGBLK>=:JN:EB?B>=K>MBK>F>GMMA>GBG:==BMBHGMH
I:RF>GMH?:<=;:L>L:E:KRO:<:MBHG:G=:GRIK>OBHNLER:P:K=>=;NMNGI:B=;HGNLMA>I:KMB>EB@B;E>MH
K><>BO>MA>?HEEHPBG@;>G>?BMLNG=>KMA>.>O>K:G<>+E:G
X
ENFILNFI:RF>GM>JN:EMHMA>LNFH?:	MBF>LMA>I:KMBI:R;	MBF>LMA>I:KMBM
:GGN:E<:LA;HGNLBG<>GMBO>:FHNGMNG=>KNMH=>LD^L:GGN:E<:LA;HGNLBG<>GMBO>IE:G:IIEB<:;E>MHMA>I:KMB??>JN:EB?B>=K>MBK>F>GM:G=<	:IKH
K:M:IHKMBHGH?MA>I:KMBM:GGN:E<:LA;HGNLBG<>GMBO>
:FHNGM:LBG>??>JN:EB?B>=K>MBK>F>GM?HKMA>?BL<:ER>:KBGPABJN:EB?B>=K>MBK>F>GMH<E>K:M>=O>LMBG@H?MA>I:KMB
;:L>=-.0LMA:MPHNE=A:O>;>O>LM>=A:=MA>I:KMBF:BG>=
FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>JN:EB?B>=K>MBK>F>GM
X
HGMBGN>=O>LMBG@H?MA>I:KMB;>O>LM>=A:=MA>I:KMBF:BG>=FIEHR>=;RNMH=>LD?HK:G:==BMBHG:EFHGMAL?HEEHPBG@MA>JN:EB?B>=K>MBK>F>GM;:L>=HGMA>>QM>GMMHPAB
NG=>KERBG@I>K?HKF:G<>KB:PBMAK>LI>L:MBL?B>=?HKLNK?HKF:G<>I>KBH=:G=
X
M:Q:;E>ENFILNFI:RF>GMBG:G:FHNGM>JN:EMHMBF>LMA>FHGMAERIK>FBNFMA:MMA>I:KMBK>JNBK>=
MHI:RMHMA>BK@KHNIA>:EMAK:@>B?MA>I:KMB:MBF>ER>E>K*-
!HKMA>INKIHL>LH?MA>.>O>K:G<>+E:G[JN:EB?B>=K>MBK>F>GM\BL=>?BG>=:L:OHENGM:KRM>KFBG:MBHGH?>FIEHRF>GM;R:G
>Q>H??B<>KPAB>ML>BMA>KH?MA>?HEEHPBG@K>JNBK>F>GMLB	HG>^L=MHM:E:@>IENLR>:KLH?>FIEHRF>GMPBMA
NMH=>LDBL>JN:EMHHK@K>:M>KMA:GHKBB	HG>BL:ME>:LMR>:KLH?:@>:G=M>L:ME>:LMR>:KLH?>FIEHRF>GMPBMA
NMH=>LD0GE>LLP:BO>=;RMA>:=FBGBLMK:MHKH?MA>IE:GHKMA>AB>? Q>*??B<>KBGHK=>K?HKLNKFBG:MBHGMH;>=>>F>=:JN:EB?B>=K>MBK>F>GMHG>FNLMIKHI>KER=>EBO>KPKBMM>GGHMB<>H?ABLHKA>KBGM>GMMHK>LB@G
>FIEHRF>GMPBMANMH=>LDBG:JN:EB?B>=K>MBK>F>GM:ME>:LMMAK>>FHGMALIKBHKMHMA>>??>=:M>H?LN=
K>MBK>F>GM
!CI:GC6A*:K:CJ:D9:+:8I>DC


/A>.>O>K:G<>+E:G=H>LGHMIKHOB=>?HK:GR>QM:QI:RF>GM$GMA>>O>GMMA:M:GRI:RF>GMHK;>G>?BMI:R:;E>MH:
I:KMBKMA>.>O>K:G<>+E:GPHNE=K>LNEMBGMA>BFIHLBMBHGH?>QM:Q>LNG=>KMA>[@HE=>GI:K:\IKHOBLBHGLH?
.>H=>MA>GLNGML:G=;>G>?BMLPBEE;>	=>EBO>K>=BG?NEEHK	=>EBO>K>=MHLNLL>K>QM>GM
MA:MPHNE=K>LNEMBGGHIHKMBHGH?MA>;>G>?BML;>BG@LN;C>>QM:QPABO>KK>LNEMLBGMA>I:KMB<>BOBG@MA>
@K>:M>LM:FHNGMH?;>G>?BML
BEADNB:CII=C9G:LC6GM:L *BG%NG>KG:@GHLM>GM>K>=BGMH:G>FIEHRF>GM
:@K>>F>GMPBMANMH=>LDPABG=>=BGIKBEPABL?HK:FHG@HMA>KMABG@L<>KM:BGI:RF>GML:G=
;>G>?BMLMH;>IKHOB=>=MHKG:@GHLMBGMA>>O>GMABL>FIEHRF>GMBLM>KFBG:M>=PBMAHNM[<:NL>\HKA>K>LB@GL?HK[@HH=
K>:LHG\BGH?:KFBL=>?BG>=BGKG:@GHLML>FIEHRF>GM
:@K>>F>GM
$GMA>>O>GMKG:@GHLML>FIEHRF>GMBLM>KFBG:M>=;RNMH=>LDPBMAHNM<:NL>HKB?KG:@GHLMK>LB@GL?HK@HH=
K>:LHG:G=BG>:LNKFBG:MBHGBLGHMBGH?<>BO>B	I:RF>GM
H?H?ABLMA>GGM;:L>L:E:KR?HKFHGMALBB	I:RHNMH?ABLIKH
K:M:;HGNL?HKMA>?BL<:ER>:KBGPABKFBG:MBHG
H<=NMH=>LD;HGNLM:K@>ML:K>L:MBL?B>=MH;>I:B=BGHG>ENFILNFHGHK;>?HK>(:KLN<<>>=BG@
?BL<:ER>:KBBB	?NEER:<<>E>K:M>=O>LMBG@H?:EEH?ABLMA>GHNMLM:G=BG@NGO>LM>=>JNBMR:P:K=LHMA>KMA:G:GR:P:K=LMA:MO>LM
BGPAHE>HKBGI:KM;:L>=HGI>K?HKF:G<>	BO	PBMAK>LI>GHNMLM:G=BG@NGO>LM>=>JNBMR:P:K=LMA:MO>LMBGPAHE>HK
BGI:KM;:L>=HGI>K?HKF:G<>MAHL>:P:K=LPBEEO>LM:LB?A>A:=K>F:BG>=FIEHR>=;RNMH=>LDMAKHN@AMA>>G=
H?MA>I>K?HKF:G<>I>KBH=BGPABFIEHRF>GMBLM>KFBG:M>=;:L>=HGMA>>QM>GMB?:GRMA:MMA>NG=>KERBG@I>K?HKF:G<>
KB:?HKMAHL>:P:K=L:K>L:MBL?B>=?HKMA:MI>K?HKF:G<>I>KBH=:LIKHK:M>=MHK>?E>GNF;>KH?=:RLBGPABP:L
>FIEHR>==NKBG@LNKBH=:G=O	K>BF;NKL>F>GM?HKIK>FBNFLI:B=?HK=A>:EMA;>G>?BML?HKKG:@GHLM:G=ABL
>EB@B;E>=>I>G=>GMLNGMBEMA>>:KEB>KH?FHGMAL?HEEHPBG@M>KFBG:MBHGHKMA>=:M>KG:@GHLM;>LK>=NG=>K
LBFBE:KA>:EMAIE:GL$G:==BMBHGKG:@GHLMBLLN;C>MBMBHGG:GML?HKFHGMAL
?HEEHPBG@:M>KFBG:MBHGMA:M@BO>LKBL>MHMA>L>O>K:G<>;>G>?BML=BL=:;HO>
$?BGH?FIEHRF>GMBLM>KFBG:M>=;RNMH=>LDPBMAHNM<:NL>HKB?K
G:@GHLMK>LB@GL?HK@HH=K>:LHGKG:@GHLMPHNE=K><>BO>B	:ENFILNFI:RF>GMBG:G:FHNGM>JN:EMHH?ABL
:GGN:E;:L>L:E:KR:G=M:K@>M:GGN:E;HGNLBB	I:RHNMH?ABLIKH
K:M:M:K@>M;HGNL?HKMA>?BL<:ER>:KBGPABKFBG:MBHG
H<I:B=BGHG>ENFILNFHGHK;>?HK>(:KLN<<>>=BG@?BL<:ER>:KBBB	?NEER:<<>E>K:M>=O>LMBG@H?:EEH?
ABLMA>GHNMLM:G=BG@NGO>LM>=>JNBMR:P:K=LBGKPBL>O>LMHGERNIHGL:MBL?:K?HKF:G<>
KB::G=BO	K>BF;NKL>F>GM?HKIK>FBNFLI:B=?HK=A>:EMA;>G>?BML?HKKG:@GHLM:G=ABL>EB@B;E>=>I>G=>GML
NGMBEMA>>:KEB>KH?FHGMAL?HEEHPBG@M>KFBG:MBHGHKMA>=:M>KG:@GHLM;>LK>=NG=>KLBFBE:KA>:EMAIE:GL
*:I>G:B:CI(GDK>H>DCH>C*+-6C9(+--.0:G=+.0:@K>>F>GML>GM>K>=BGMHPBMAHNK>Q>H??B<>KLBG(:KKKFBMI:KMB:E=O>LMBG@H?HNMLM:G=BG@-.0L:G=+.0L?HEEHPBG@:JN:EB?B>=K>MBK>F>GM:L?HEEHPL
X
/BF>
;:L>=-.0LMA:MPHNE=HMA>KPBL>O>LMPBMABGFHGMAL?HEEHPBG@MA>JN:EB?B>=K>MBK>F>GMPBEE?NEER:<<>E>K:M>:G=
;>O>LM>=:LH?MA>=:M>H?MA>JN:EB?B>=K>MBK>F>GM:G=:GRMBF>
;:L>=-.0LMA:MK>F:BGNGO>LM>=:?M>K:IIEB<:MBHG
H?MABLIKHOBLBHGPBEEBFF>=B:M>ER;>?HK?>BM>=:G=<:G<>EE>=?HKGH:==BMBHG:EK:MBHGNIHGMA>JN:EB?B>=K>MBK>F>GM
:G=
X
+.0LMA:MPHNE=HMA>KPBL>O>LMPBMABGFHGMAL?HEEHPBG@MA>JN:EB?B>=K>MBK>F>GMPBEEMHO>LM:LB?MA>
>Q>H??B<>KA:=K>F:BG>=FIEHR>=;RNMH=>LDMAKHN@AMA>O>LM=:M>G>QM?HEEHPBG@MA>JN:EB?B>=
K>MBK>F>GM;:L>=HGMA>>QM>GMB?:GRMA:MMA>NG=>KERBG@I>K?HKF:G<>KB:PBMAK>LI>L:MBL?B>=
?HKMA>:IIEB<:;E>I>K?HKF:G<>I>KBH=:G=MA>K>F:BG=>KH?LNO>LM>=INKLN:GMMHMABL
IKHOBLBHGB?:GRLA:EE;>?HK?>BM>=:G=<:G<>E>=?HKGH:==BMBHG:EK:MBHG
!HKMA>INKIHL>LH?MABLIKHOBLBHG[JN:EB?B>=K>MBK>F>GM\A:LMA>L:F>=>?BGBMBHG:LBGMA>.>O>K:G<>+E:G0GE>LLP:BO>=
;RMA>:=FBGBLMK:MHKH?MA>:IIEB<:;E>LMHK?HKLNKFBG:MBHGMH;>=>>F>=:JN:EB?B>=K>MBK>F>GM
HG>FNLMIKHI>KER=>EBO>KPKBMM>GGHMB<>H?ABLHKA>KBGM>GMMHK>LB@G?KHF>FIEHRF>GMPBMANMH=>LDBG:JN:EB?B>=K>MBK>F>GM
:ME>:LMMAK>>FHGMALIKBHKMHMA>>??>=:M>H?LN=K>MBK>F>GM
(DI:CI>6A(6NB:CIH-EDC,:GB>C6I>DCDG=6C<:>CDCIGDA


/A>M:;E>L;>EHPEBLMMA>>LMBF:M>=:FHNGMH?GL:MBHGI:R:;E>MH>:G:F>=>Q>H??B<>KLBGMA>>O>GM
H?OHENGM:KRM>KFBG:MBHGBGOHENGM:KRGHM
?HK
<:NL>M>KFBG:MBHG?HK
<:NL>M>KFBG:MBHGM>KFBG:MBHG?HEEHPBG@:BG
KFBG:MBHGBGMA>>O>GMH?=BL:;BEBMRHK=>:MAH?MA>>Q>/A>:FHNGMLLAHPG:LLNF>MA:MLNKFBG:MBHG
P:L>??>:LH?%:GN:KR:G=BG:EEGMLH?GL:MBHG;>G>?BML:G=I>KJNBLBM>LI:R:;E>NG=>KMA>
.>O>K:G<>+E:G:G= Q>A:G@>BGHGMKHE+KH@K:F>??>=NKBG@MA>?BL<:ER>:KHKBGMA><:L>H?KG:@GHLM
INKLN:GMMHABL>FIEHRF>GM:@K>>F>GM=BL=:;HO>
 LMBF:M>=:FHNGML?HKLA:K>
;:L>=GL:MBHG:K>;:L>=HGMA>H?HNK):L=:JHG
(HG=:R%:GN:KRPABKLA:K>/A>:=>Q>H??B<>KLMH;>I:B=HNM
<:GHGER;>=>M>KFBG>=:MMA>MBF>H?LNQ>^LL>I:K:MBHG


M:8JI>K::C:;>IH6C9(6NB:CIH
.DAJCI6GN
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DIDG6JH:
DG.DAJCI6GN
;DGDD9
*:6HDC
M8:EI
=6C<:
>CDCIGDA
,:GB>C6I>DCDC
"6CJ6GN


DG6JH:
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DI;DG6JH:
DG.DAJCI6GN
DGDD9
*:6HDC
=6C<:>C
DCIGDA
,:GB>C6I>DCDC
"6CJ6GN


>H67>A>INDC
"6CJ6GN


:6I=DC
"6CJ6GN


DBE:CH6I>DC
.>O>K:G<>	

Z



Z



Z

Z
+KH
-:M:HGNL	

Z



Z



Z

Z
 JNBMRP:K=L	





Z






:C:;>IH6C9E:GFJ>H>I:H
#>:EMA$GLNK:G<>	

Z



Z



Z

Z
BL:;BEBMR$G	

Z

Z

Z

Z



Z
<GM:E>:MAHK
BLF>F;>KF>GM	

Z

Z

Z

Z




'B?>$GLNK:G<>	

Z

Z

Z

Z

Z


,DI6AM:8JI>K::C:;>IH6C9
(6NB:CIH-EDC+:E6G6I>DC





Z






:7DG6=$
A>;;DG9
M:8JI>K::C:;>IH6C9(6NB:CIH
.DAJCI6GN
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DIDG6JH:
DG.DAJCI6GN
;DGDD9
*:6HDC
M8:EI
=6C<:
>CDCIGDA
,:GB>C6I>DCDC
"6CJ6GN


DG6JH:
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DI;DG6JH:
DG.DAJCI6GN
DGDD9
*:6HDC
=6C<:>C
DCIGDA
,:GB>C6I>DCDC
"6CJ6GN


>H67>A>INDC
"6CJ6GN


:6I=DC
"6CJ6GN


DBE:CH6I>DC
.>O>K:G<>	

Z



Z



Z

Z
+KH
-:M:HGNL	

Z

Z

Z



Z

Z
 JNBMRP:K=L	

Z



Z


 
 
:C:;>IH6C9E:GFJ>H>I:H
#>:EMA$GLNK:G<>	

Z



Z



Z

Z
BL:;BEBMR$G	

Z

Z

Z

Z



Z
<GM:E>:MAHK
BLF>F;>KF>GM	

Z

Z

Z

Z




'B?>$GLNK:G<>	

Z

Z

Z

Z

Z


,DI6AM:8JI>K::C:;>IH6C9
(6NB:CIH-EDC+:E6G6I>DC

Z



Z


 
 

C9G:LC6K::C:;>IH6C9(6NB:CIH
.DAJCI6GN
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DIDG6JH:
DG.DAJCI6GN
;DGDD9
*:6HDC
M8:EI
=6C<:
>CDCIGDA
,:GB>C6I>DCDC
"6CJ6GN


DG6JH:
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DI;DG6JH:
DG.DAJCI6GN
DGDD9
*:6HDC
=6C<:>C
DCIGDA
,:GB>C6I>DCDC
"6CJ6GN


>H67>A>INDC
"6CJ6GN


:6I=DC
"6CJ6GN


DBE:CH6I>DC
.>O>K:G<>	





Z



Z

Z
+KH
-:M:HGNL	





Z



Z

Z
 JNBMRP:K=L	





Z


 
 
:C:;>IH6C9E:GFJ>H>I:H
#>:EMA$GLNK:G<>	





Z



Z

Z
BL:;BEBMR$G	

Z

Z

Z

Z



Z
<GM:E>:MAHK
BLF>F;>KF>GM	

Z

Z

Z

Z




'B?>$GLNK:G<>	

Z

Z

Z

Z

Z


,DI6AM:8JI>K::C:;>IH6C9
(6NB:CIH-EDC+:E6G6I>DC





Z


 
 
*JI=CC#::C:
M:8JI>K::C:;>IH6C9(6NB:CIH
.DAJCI6GN
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DIDG6JH:
DG.DAJCI6GN
;DGDD9
*:6HDC
M8:EI
=6C<:
>CDCIGDA
,:GB>C6I>DCDC
"6CJ6GN


DG6JH:
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DI;DG6JH:
DG.DAJCI6GN
DGDD9
*:6HDC
=6C<:>C
DCIGDA
,:GB>C6I>DCDC
"6CJ6GN


>H67>A>INDC
"6CJ6GN


:6I=DC
"6CJ6GN


DBE:CH6I>DC
.>O>K:G<>	





Z



Z

Z
+KH
-:M:HGNL	





Z



Z

Z
 JNBMRP:K=L	





Z


 
 
:C:;>IH6C9E:GFJ>H>I:H
#>:EMA$GLNK:G<>	





Z



Z

Z
BL:;BEBMR$G	

Z

Z

Z

Z
 	

Z
<GM:E>:MAHK
BLF>F;>KF>GM	

Z

Z

Z

Z




'B?>$GLNK:G<>	

Z

Z

Z

Z

Z


,DI6AM:8JI>K::C:;>IH6C9
(6NB:CIH-EDC+:E6G6I>DC





Z


 
 


*:7:886(:6G8:
M:8JI>K::C:;>IH6C9(6NB:CIH
.DAJCI6GN
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DIDG6JH:
DG.DAJCI6GN
;DGDD9
*:6HDC
M8:EI
=6C<:
>CDCIGDA
,:GB>C6I>DCDC
"6CJ6GN


DG6JH:
,:GB>C6I>DC
DC
"6CJ6GN


!CKDAJCI6GN
&DI;DG6JH:
DG.DAJCI6GN
DGDD9
*:6HDC
=6C<:>C
DCIGDA
,:GB>C6I>DCDC
"6CJ6GN


>H67>A>INDC
"6CJ6GN


:6I=DC
"6CJ6GN


DBE:CH6I>DC
.>O>K:G<>	

Z







 

+KH
-:M:HGNL	

Z

Z

Z



Z

Z
 JNBMRP:K=L	

Z










:C:;>IH6C9E:GFJ>H>I:H
#>:EMA$GLNK:G<>	

Z

Z


Z

Z


BL:;BEBMR$G	

 
 
 





<GM:E>:MAHK
BLF>F;>KF>GM	

 
 
 


Z
 	

'B?>$GLNK:G<>	

 
 
 
 

 	

,DI6AM:8JI>K::C:;>IH6C9
(6NB:CIH-EDC+:E6G6I>DC

Z



Z


 
 
88888888888888
	
(1B1>-:/1!HKKG:@GHLMMA>:FHNGMLLAHPGPHNE=;>I:B=BG:<PBMAABL>FIEHRF>GM:@K>>F>GM:L:F>G=>=HGIKBE
;:L>=HG;:L>L:E:KR:G=M:K@>M;HGNLBG>??>HMA>K=>Q>H??B<>KLMA>:FHNGML
LAHPGPHNE=;>I:B=BG:<PBMAMA>.>O>K:G<>+E:GBG>??>A:G@>BGHGMKHE+KH@K:F:L
:F>G=>=HGIKBE;:L>=HG;:L>L:E:KR:G=M:K@>M;HGNLBG>??>;'-@-;:A?->IK>L>GMLIKH
K:M:;HGNL:FHNGML?HKMA>R>:KBGPABM>KFBG:MBHGH<=PABNG=>KK
G:@GHLM^L>FIEHRF>GM:@K>>F>GM.>O>K:G<>+E:G:G=MA> Q>A:G@>BGHGMKHE+KH@K:F
	
=A5@EC->0?+NKLN:GMMHNMH=>LDL?HKFH?-.0:G=+.0:P:K=:@K>>F>GMBGMA><:L>H?:,N:EB?B>=->MBK>F>GMI:KMB:E=
O>LMBG@H?HNMLM:G=BG@-.0L:G=+.0LL:G=BGMA><:L>H?BL:;BEBMRHK>:MANGO>LM>=MBF>
;:L>=-.0LO>LMBG?NEE:G=
NGO>LM>=+.0LO>LM:MM:K@>M!HKKG:@GHLMMA>:FHNGMLLAHPG?HKHMA>KM>KFBG:MBHGL<>G:KBHLK>?E>O:EN>H?NGO>LM>=>JNBMR
:P:K=L:<<>E>K:M>=BG:<PBMAABL>FIEHRF>GM:@K>>F>GM:L:F>G=>=HGIKBE!HKMA>HMA>K=
>Q>H??B<>KLMA>:FHNGMLLAHPG?HKHMA>KM>KFBG:MBHGL<>G:KBHLK>?E>O:EN>H?NGO>LM>=>JNBMR:P:K=L:<<>E>K:M>=BG
:<PBMAMA>.>O>K:G<>+E:GBG>??>A:G@>BGHGMKHE+KH@K:F:L:F>G=>=HGIKBE
->IHKM>=O:EN>L:K>;:L>=HGMA>H?HNKKLA:K>	?HK-.0L:G=+.0L
:G=M:K@>M+.0L
	
1-8@4:?A>-:/1!HKKG:@GHLMBG:<PBMAABL>FIEHRF>GM:@K>>F>GM:L:F>G=>=HGIKBEMA>L>:FHNGML
K>IK>L>GMMA>K:@>?HKKG:@GHLM:G=ABL=>I>G=>GML/A>:FHNGMLAHPGBGMA>$GOHENGM:KR)HM?HK:NL>HK
1HENGM:KR?HK"HH=->:LHG Q<>IMA:G@>BGHGMKHE	/>KFBG:MBHG?E>K:@>:?M>KL>I:K:MBHG/A>
:FHNGMLBGMA>$GOHENGM:KR)HM?HK:NL>HK1HENGM:KR?HK"HH=->:LHGA:G@>BGHGMKHE	/>KFBG:MBHG?E>K:@>:?M>KL>I:K:MBHG!HKMA>HMA>K=>Q>H??B<>KLMA>L>:FHNGMLK>IK>L>GMMA>K:@>?HK
F>=B<:E:G==>GM:E;>G>?BML?HK>:Q>:G=ABLHKA>K=>I>G=>GMLB	BGMA><:L>H?MA>BL:;BEBMRPBMANMH=>LDL;>G>?BMLIKH@K:FBB	BGMA><:L>H?MA>$GOHENGM:KR)HM?HK:NL>HK1HENGM:KR?HK"HH=->:LHG Q<>IM
A:G@>BGHGMKHE	/>KFBG:MBHGKL>I:K:MBHG:G=@KHLL>=NI?HKM:Q>LBG:<PBMAMA>.>O>K:G<>+E:G
BG>??><:L>H?MA>$GOHENGM:KR)HM?HK:NL>HK1HENGM:KR?HK"HH=->:LHGA:G@>BGHGMKHE	
/>KFBG:MBHGKL>I:K:MBHGBG:<PBMAMA> Q>A:G@>BGHGMKHE+KH@K:F:L:F>G=>=HGIKBE

	
5?-.585@E:/;91->?E>>LMBF:M>=IK>L>GMO:EN>H?:EE?NMNK>I:RF>GMLMH>:Q>>Q<>IM?HK(L+>:K<>NG=>KABLHKA>K
>E>==BL:;BEBMRIKH@K:FPABIK>L>GMH?;:L>L:E:KR?HKMA>?BKLM=:RL:G=MA>GH?L:E:KRMA>K>:?M>KPBMA:
F:QBFNFH?I>KFHGMANGMBEMA>:@>H?(L+>:K<>^L>E>==BL:;BEBMRIKH@K:FK>IK>L>GMLH?;:L>L:E:KRIENL:O>K:@>
H?;HGNL>:KGBG@LHO>KMA>E:LMMAK>>?BL<:ER>:KLFBGNLLM:M>BG<:I:G>?BM>::KNGMBEMA>K>MBK>F>GM:@>H?/A>L>I:RF>GML
PHNE=;>F:=>;RMA>BGLNK:G<>IKHOB=>KGHM;RNMH=>LD
	
//501:@-81-@4;>5?919.1>91:@->?E>ENFI
LNF:FHNGMI:R:;E>MH>:Q>HKABLHKA>K;>G>?BL;RNMH=>LD^L
BGLNK:G<>IKHOB=>KBGMA>>O>GMH?MA>>Q>^L:<GM:E=>:MA/A>K>BL:ELH:IKHK:M>=ENFILNFI:RF>GM?HK=BLF>F;>KF>GM/A>
:FHNGMLAHPG:LI:R:;E>NIHG=BLF>F;>KF>GMBL;:L>=NIHGMA>I:RHNM?HKMA>FHLML>O>K>=BLF>F;>KF>GMNG=>KMA>IE:G
	
!521:?A>-:/1->?E>ENFI
LNF:FHNGMI:R:;E>MH;>G>?BL;RNMH=>LD^LBGLNK:G<>IKHOB=>KBGMA>>O>GMH?MA>>Q>^L
=>:MA


	
(L+>:K<>^L<:LAL>O>K:G<>:G=;>G>?BML:K>IKHOB=>=BGKBMBLA+HNG=L/A>L>:FHNGMLK>IK>L>GMMA>:IIKHQBF:M>=HEE:KO:EN>H?A>K
;:L>L:E:KR:G=HMA>KGL:MBHGKM>=MH0.=HEE:KLNLBG@MA>KBMBLA+HNG=MH=HEE:K>QK:M>H?PABIK>L>GML:G
:O>K:@>?HK?BL<:ER>:K
DBE:CH6I>DCD;>G:8IDGH
NKBG@?BL<:ER>:KHNKGHG
>FIEHR>>=BK>K>>EB@B;E>MHK><>BO>MA>:GGN:EGL:MBHGL>M?HKMA;>EHP
(>F;>KH?MA>H:K=H?BK>JNBO:E>GM	
)HG
>Q>A:BKH?MA>H:K=
:G:==BMBHG:E

A:BKH?MA>N=BMHFFBMM>>
:G:==BMBHG:E

A:BKH?MA>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>
:G:==BMBHG:E

A:BKH?MA>HKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>
:G:==BMBHG:E

/A>:GGN:EGL:MBHG?HKGHG
>FIEHR>>=BK>@BGLHGMA>=:M>H?MA>:GGN:ELMHKL^F>>MBG@:G=
>G=LHGMA>=:M>H?MA>G>QM:GGN:ELMHKLF>>MBG@[BK>GL:MBHGR\	BK>GL:MBHGBGMA>
M:;E>L;>EHPK>IK>L>GMMA>IHKMBHGH?:GGN:EGL:MBHGPBMAK>LI>KOB<>=NKBG@NMH=>LDL?BL<:ER>:K
)HE:M>KMA:G><>F;>KH?MA>R>:KIKBHKMH:=BK>
>E>H:K=MA>=BK>E><>BO>NIMH
H?ABLHKA>K:GGN:E?>>LBGMA>?HKFH?-.0LBLLN>=:M:K:M>H?PHKMAH?LMH:GL:MBHG
?HK>@HG>[ E>=-.0L\	$?<:LABL>E>=<:LAGL:MBHGBL:<=FHGMAER:G=I:B=JN:KM>KERBG:KK>:KL/A> E>=
-.0L:K>BLLN>=:MMA>;>@BGGBG@H?MA>BK>GL:MBHGRHGMA>=:M>H?MA>:GGN:EF>>MBG@H?LMHKL:G=
O>LMHGMA>=:M>H?MA>:GGN:EF>>MBG@H?LMHKLBGMA>?HEEHPBG@R>:KIKHOB=>=MA:MMA>K>GMBL:=BK>
&DC	BEADN::>G:8IDGCCJ6ADBE:CH6I>DCN8A:
"JC:
CCJ6A+ID8@=DA9:G%::I>C<	"JC:
CCJ6A+ID8@=DA9:G%::I>C<
>G:8IDG
CCJ6A::HA:8I:9IDDCK:GIID*+-H
"JC:
	"JC:

CCJ6A::HA:8I:9IDDCK:GIID*+-H
"JC:	"JC:

.M:GE:LBG@



->B=!K>G$KOBG@



(:KR/(<HP>EE



.M>IA>G(BEEB@:G



'HKKB>()HKKBG@MHG



>MLR-:?:>E
Z

Z
-:FB-:ABF
Z

Z
NKBG@?BL<:ER>:KNMH=>LD^LBK>GL:MBHG+HEBKMA>NMH=>LD^L JNBMR$G<>GMBO>+E:G
IKHOB=>=?HKMA>:NMHF:MB<@K:GMH?-.0LMHHNKGHG
>FIEHR>>=BK>BG@>E>=HK:IIHBGM>=MHHNKH:K=>:FIEHR>>=BK>IKHOB=>=:GBGBMB:E@K:GMH?-.0LPBMA:@K:GM=:M>O:EN>H?:G=IKHK:M>=;:L>=HG
L>KOB<>HGMA>=:M>LN=MA>H:K=[$GBMB:E-.0L\	PBMALN;L>JN>GM:GGN:E@K:GMLH?-.0LPBMA:@K:GM=:M>
O:EN>H?HGMA>=:M>H?MA>:GGN:EF>>MBG@[.N;L>JN>GMGGN:E-.0L\	
/A>GNF;>KH?<:E>G=:K=:RL
?KHFMA>:M>H?"K:GMMH
NMH=>LD^LG>QM:GGN:E
F>>MBG@H?LMHKL
!:BK(:KD>M1:EN>
H?:.A:K>HGMA>
:M>H?"K:GM
->LNEMBLKHNG=>=
=HPGMHMA>
G>:K>LMPAHE>
GNF;>KH?LA:K>L

M



$GBMB:E-.0LO>LMNIHGMA>:GGN:EF>>MBG@H?LMHKL?HEEHPBG@MA>=:M>H?@K:GM.N;L>JN>GMGGN:E-.0LO>LMHO>K
:HG>
R>:KI>KBH=$?:GHG
>FIEHR>>=BK>=HGMA>=:M>H?:G:GGN:EF>>MBG@LNFIEHR>>=BK>EB@B;E>MH:G$GBMB:E-.0


0G=>KMA> JNBMR$G<>GMBO>+E:G=BK>E>?>K:EEHKI:KMH?MA>BK.N;L>JN>GMGGN:E-.0L:G=
 E>=-.0LBLMKB;NMBHGLH?MA>L>=>?>KK>=-.0LPBEE;>F:=>BGLA:K>LH?NMH=>LD^LGML
HK;RENFILNFBG:<PBMAMA>=BLMKB;NMBHG>E>;RMA>=BK>M:;E>L;>EHPIK>L>GMBG?HKF:MBHGKGBG@MA>GL:MBHGI:B=;RNLMH>:FIEHR>>=BK>:KKG:@GHLMPAHP:L:GNMH=>LD>FIEHR>>=NKBG@?BL<:ER>:K=B=GHMK><>BO>:==BMBHG:E
GL:MBHG?HKABLL>KOB<>:L:=BK>G:8IDGH
::H6GC:9DG
(6>9>C6H=


+ID8@L6G9H

,DI6A

.M:GE:LBG@






->B=!K>G$KOBG@






(:KR/(<HP>EE






.M>IA>G(BEEB@:G






'HKKB>()HKKBG@MHG






>MLR-:?:>E






-:FB-:ABF






88888888888888
	
!>>L :KG>=HK+:B=BG:LAK>?E>=HEE:K:FHNGMLH??>>L>:KG>=LGHM>=:;HO>=NKBG@?BL<:ER>:K=BK>E><>BO>NIMHH?MA>BKGL:MBHGBGMA>?HKFH?-.0LBGEB>NH?<:LA/A>?HEEHPBG@M:;E>K>IK>L>GML:<>BO>=;RMA>
=BK>:K;:L>=HGMA>BK>E>>?HHMGHM>;	?HKFHK>BG?HKF:MBHGK>@:K=BG@MA>-.0L@K:GM>=BGEB>NH?<:LA
JGG:CI>G:8IDGH
::H8IJ6AAN(6>9>C6H=
.M:GE:LBG@
Z
->B=!K>G$KOBG@
Z
(:KR/(<HP>EE
Z
.M>IA>G(BEEB@:G
Z
'HKKB>()HKKBG@MHG
Z
>MLR-:?:>E

-:FB-:ABF

 /A>.MH?E>@K:GM=:M>?:BKO:EN>H?MA>$GBMB:E-.0L:G=.N;L>JN>GMGGN:E-.0L:G=BB	MA>IKH
K:M:
@K:GM=:M>?:BKO:EN>H?H?MA>LMH=BK>:KG>==NKBG@?BL<:ER>:KBGEB>NH?<:LA/A>K>IK>L>GMLMA>
IK>FBNFH?PHKMAH?LMH:GL:MBHG?HK>@HG>/A>:LLNFIMBHGLNL>=BGMA>O:EN:MBHGH?MA>L>:P:K=L
:K>L>M?HKMABG+:KM$$$M>F!BG:GF>GML:G=.NIIE>F>GM:KR:M:)HM>[NLBG>LL:G=.NFF:KRH?.B@GB?B<:GM
<L\BGMA>)HM>LMHHGLHEB=:M>=!BG:GF>GMLBGMABLGGN:E->IHKMHG!HKF
&/A>L>:FHNGML=HGHM
LIHG=MHMA>:MA:MPBEE;>K>:EBS>=;RMA>=BK>O>LMBG@H?-.0LHKMA>L:E>H?MA>KERBG@
LN?HEEHPBG@M:;E>LAHPLMA>MHM:E:FHNGML:G=?:BKO:EN>L:LP>EE:LMA>IK>FBNFH?-.0L@K:GM>=HG%NG>
BGEB>NH?<:LA?HK>@HG>?HKMA>%NG>MAKHN@A%NG>BK>GL:MBHGR
*:HIG>8I:9+ID8@-C>I
JGG:CI>G:8IDGH
,DI6A&JB7:G
D;+=6G:H
&JB7:GD;+=6G:H
*:EG:H:CI>C<I=:
(G:B>JB
G6CI6I:6>G
.6AJ:D;+ID8@
L6G9H
G6CI6I:6>G.6AJ:D;I=:
(G:B>JBD;I=:+ID8@
L6G9H
.M:GE:LBG@








->B=!K>G$KOBG@








(:KR/(<HP>EE








.M>IA>G(BEEB@:G








'HKKB>()HKKBG@MHG








>MLR-:?:>E

Z

Z

Z

Z
-:FB-:ABF

Z

Z

Z

Z
/A>?HEEHPBG@M:;E>LAHPLMA>MHM:E:FHNGML:G=?:BKO:EN>L:LP>EE:LMA>IK>FBNFH?-.0L@K:GM>=HG%NG>
BGEB>NH?<:LA?HK>@HG>?HKMA>%NG>MAKHN@A%NG>BK>GL:MBHGR
*:HIG>8I:9+ID8@-C>I
JGG:CI>G:8IDGH
,DI6A&JB7:G
D;+=6G:H
&JB7:GD;+=6G:H
*:EG:H:CI>C<I=:
(G:B>JB
G6CI6I:6>G
.6AJ:D;+ID8@
L6G9H
G6CI6I:6>G.6AJ:D;
I=:(G:B>JBD;I=:
+ID8@L6G9H
.M:GE:LBG@








->B=!K>G$KOBG@








(:KR/(<HP>EE








.M>IA>G(BEEB@:G








'HKKB>()HKKBG@MHG








>MLR-:?:>E

Z

Z

Z

Z
-:FB-:ABF

Z

Z

Z

Z
/A>?HEEHPBG@M:;E>LLAHPMA>MHM:E:FHNGML:G=?:BKO:EN>LH?.N;L>JN>GMGGN:E-.0L@K:GM>==NKBG@?BL<:ER>:K
*:HIG>8I:9+ID8@-C>I
JGG:CI>G:8IDGH
G6CI6I:H
&JB7:GD;
+=6G:H
G6CI6I:6>G.6AJ:
D;+ID8@L6G9H
.M:GE:LBG@



->B=!K>G$KOBG@



(:KR/(<HP>EE



.M>IA>G(BEEB@:G



'HKKB>()HKKBG@MHG



>MLR-:?:>E



-:FB-:ABF





/A>:@@K>@:M>GNF;>KH?>:G:8IDGH
<C<'JIHI6C9>C<*:HIG>8I:9
+ID8@-C>IH
.M:GE:LBG@

->B=!K>G$KOBG@

(:KR/(<HP>EE

.M>IA>G(BEEB@:G

'HKKB>()HKKBG@MHG

>MLR-:?:>E

-:FB-:ABF

>G:8IDG+ID8@'LC:GH=>EJ>9:A>C:H
/A>H:K=;>EB>O>L=BK>:F>:GBG@?NE?BG:GBGNMH=>LDBGHK=>KMH?NKMA>K:EB@GMA>BKBGM>K>LML
PBMANMH=>LD^LLMHKL/HMA:M>G=MA>H:K=A:L:=HIM>=F:G=:MHKRHPG>KLABI@NB=>EBG>L?HKMA>=BK>L>
F:G=:MHKRHPG>KLABI@NB=>EBG>LK>JNBK>:EE=BK>LH?NMH=>LD^LJNBO:E>GMBGO:EN>MH?BO>
MBF>LMA>BK:GGN:E<:LAK>M:BG>K
DBE:CH6I>DCDBB>II::!CI:GAD8@H
/A>GMF>F;>KLH?MA>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>:K>(:KR/(<HP>EE->B=!K>GKO>=:L:F>F;>KH?MA>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>=NKBG@?BL<:ER>:K
BLHKP:L?HKF>KER:GH??B<>KHK>FIEHR>>H?NMH=>LDHK:GRH?BMLLN;LB=B:KB>L)HBGM>KEHE:MBHGLABI>QBLM>=
;>MP>>G:GR=BK>KO>=:L:F>F;>KH?MA>HFI>GL:MBHG:G=#NF:G->LHNK<>LHFFBMM>>=NKBG@?BL<:ER>:K
:G=MA>GL:MBHG>H?:GRHMA>KKEHE:MBHGLABI>QBLM>=BGMA>I:LM


!,%

+-*!,1'/&*+ !('*,!&&!!$'/&*+&%&%&,&
*$,+,'# '$*%,,*+
/A>?HEEHPBG@M:;E>L>ML?HKMA<>KM:BGBG?HKF:MBHGKGBG@MA>;>G>?BKLABIH?NMH=>LD^L:KLHGHK>GMBMRPAHBLDGHPG;RNMH=>LDMHHPG;>G>?BMA:GH?MA>HNMLM:G=BG@
LA:K>LH?NMH=>LD:LD^L=BK>:G:F>=>Q>H??B<>KLBGK
>Q>H??B<>KL:G=:EE=BK>Q>H??B<>KL:L:@KHNI
+ID8@=DA9:GH>G:8IDGH6C9';;>8:GH

DBBDC+ID8@
:C:;>8>6AAN
'LC:9
(:G8:CI6<:
:C:;>8>6AAN
'LC:9
(G>C8>E6A+ID8@=DA9:GH
/A>1:G@N:K="KHNI$G<	



E:G:8IDGH
.M:GE:LBG@


->B=!K>G$KOBG@


(:KR/(<HP>EE


.M>IA>G(BEEB@:G	


'HKKB>()HKKBG@MHG


>MLR-:?:>E


-:FB-:ABF


&6B:9M:8JI>K:';;>8:GH
G=K>PG:@GHLM


>;HK:A'EB??HK=


.M>O>G(ENF	


-NMAGG&>>G>


->;><<:+>:K<>


EE=BK>Q>H??B<>KL:L:@KHNIBG=BOB=N:EL	


888888888888888

->IK>L>GMLE>LLMA:GHG>I>K<>GM	H?MA>HNMLM:G=BG@LLHMA>KPBL>BG=B<:M>=BGMA>BKK>LI>?HHMGHM>MA>:==K>LL?HK>:=I>KLHGBL<HNMH=>LD$G<*G>(:KD>M.MK>>M.M>
.:G!K:GGNF;>K:G=I>K<>GM:@>H?LA:K>L;>G>?B=BL=>M>KFBG>=BG:<PBMA-NE>=
H?MA> Q
BG?HKF:MBHGBLGHMG><>LL:KBERBG=B<:MBO>H?;>G>?BKLABI?HK:GRHMA>KINKIHL>0G=>K-NE>=
;>G>?BKLABIBGL
:GRLA:K>LMA>BG=BOB=N:EHK>GMBMRA:LMA>KB@AMMH:PBMABG=:RLH?IKBEMAKHN@AMA>>Q>KH?:GRLMHKKB@AM0GE>LLHMA>KPBL>BG=B<:M>=BGMA>?HHMGHM>L>:KLHGHK>GMBMRA:LLHE>OHMBG@:G=BGO>LMF>GMIHP>KHKLA:K>LLNKLPBMAABLHKA>KLIHNL>	PBMAK>LI>LA:K>LLAHPG:L;>G>?B=
	
/A>MHM:EGNF;>KH?LA:K>LH?<>F;>KMA>K>IHKMBG@=:M>H?/A>1:G@N:K="KHNI$G<^LFHLMK><>GM?BEBG@PBMAMA>. INKLN:GMMH.> Q=HG!>;KN:KR/A>1:G@N:K="KHNI$G<P:L=>>F>=MHA:O>LHE>=BLIHLBMBO>IHP>KPBMAK>LI>LLA:K>=OHMBG@IHP>KPBMAK>LI>L:G=LA:K>==BLIHLBMBO>IHP>KPBMAK>LI>L/A>
:==K>LLH?/A>1:G@N:K="KHNI$G<BL1:G@N:K=EO=(:EO>KG+
	
LH?><>F;>KMA>K>IHKMBG@=:M>H?E:<>GM?BEBG@PBMAMA>. INKLN:GMMH.>
 Q=HG%:GN:KRE:>F>=MHA:O>LHE>OHMBG@IHP>KPBMAK>LI>LLHE>
=BLIHLBMBO>IHP>KPBMAK>LI>L/A>:==K>LLH?E:P4HKD)4
	
BK>IHKM>=BGO>LM>=:P:K=L=>?>KK>=NG=>KHNK*NMLB=>BK>EE:LNGO>LM>=:P:K=L
@K:GM>=BG?BL<:ER>:K:G=:LLNF>MA>RPBEEO>LMBG?BL<:ER>:KGGN:E(>>MBG@H?.MHKL
	
$GLLA:K>LA>E=BG=BK>LLA:K>LA>E=BG=BK>LLA:K>LA>E=BG=BK>?HEEHPBG@M:;E>LNFF:KBS>LMA>GNF;>KH?HNMLM:G=BG@HIMBHGL:G=:P:K=L@K:GM>=MH>FIEHR>>L:G==BK>EE:LMA>GNF;>KH?L>LK>F:BGBG@:O:BE:;E>?HK?NMNK>BLLN:G<>NG=>KMA>L>IE:GL:LH?%:GN:KR
6
7
8
(A6C86I:I>:H
ID7:>HHJ:9JEDC
:M:G8>H:DGK:HI>C<D;
DJIHI6C9>C<DEI>DCH
6C96L6G9H>C
B>AA>DCH
/:><=I:9	
6K:G6<::M:G8>H:
EG>8:D;
DJIHI6C9>C<
DEI>DCH
&JB7:GD;H:8JG>I>:H
G:B6>C>C<6K6>A67A:;DG;JIJG:
>HHJ6C8:JC9:G:FJ>IN
8DBE:CH6I>DCEA6CH
:M8AJ9>C<H:8JG>I>:HG:;A:8I:9
>C8DAJBC6>CB>AA>DCH
 JNBMRGL:MBHGIE:GL:IIKHO>=;RL>KL	





/HM:E




88888888888888
 $GLMA> JNBMR$G<>GMBO>+E:GMA:MP:L:IIKHO>=;RNMH=>LD^LLMHKL:G=;><:F>>??>HG%NG>:G=MA>
 FIEHR>>.MHG=>=L>M?HKMABG+:KM$$$M>F!BG:GF>GML:G=.NIIE>F>GM:KR:M: )HM> JNBMR
HFI>GL:MBHG
	
$G=BGMABL:FHNGM:K>FBEEBHGL>L:O:BE:;E>?HK?NMNK>BLLN:G<>NG=>KNMH=>LD^L FIEHR>>.MH+E:G
!,%

*,!&*$,!'&+ !(+&*$,,*&+,!'&+&!*,'*
!&(&&
*$,(*,1,*&+,!'&+
*NKN=BMHFFBMM>>A:L>LM:;EBLA>=:PKBMM>GIHEB=NK>L?HKK>OB>P:G=:IIKHO:EH?K>E:M>=
I:KMR
MK:GL:LD^L->E:M>=+:KMR/K:GL:LMA:M:EEMK:GL:MP>>GNMH=>LD:G=BMLPAHEERHPG>=
LN;LB=B:KB>L:G=:GRH?BML=BK>Q>H??B<>KLGHFBG>>L?HK=BK>KLH?HKFHK>H?HNKLMHBK
BFF>=B:M>?:FBERF>F;>KLPA>K>MA>:FHNGMBGOHEO>=>Q<>>=LK>JNBK>MA>:IIKHO:EH?;HMAHNKAB>?!BG:GK:G=MA>N=BMHFFBMM>>$?:K>E:M>=
I:KMRMK:GL:OB>PBGOHEO>L=BK>F;>KH?MA>
N=BMHFFBMM>>HKMA>AB>?!BG:GKHKHG>H?MA>BKBFF>=B:M>?:FBERF>F;>KL	LN>F>F;>KHK
AB>?!BG:GKPBEEK>ABFHKA>KL>E??KHFMA>K>OB>P/A>AB>?!BG:GK:G=MA>N=BMHFFBMM>>LA:EE
:IIKHO>HKK:MB?RHGERMAHL>MK:GL:=>>F>=MH;>GHMBGGMPBMAMA>;>LMBGM>K>LMLH?MA>HFI:GR:L:
PAHE>)HG
KHNMBG>MK:GL:G=HKL:G=LNIIEB>KLH?NMH=>LD:G=BMLPAHEER
HPG>=LN;LB=B:KB>LK>JNBK>MA>IKBHK
PKBMM>G:IIKHO:EH?MA>AB>?<K
NKBG@?BL<:ER>:KMA>K>P>K>HK=BG:KRMK:GL:MP>>GNMH=>LD:G=<>KM:BGK>E:M>=>GMBMB>L?HK
>Q:FIE>?HKMA>INKH?LH?MP:K>EB<>GL>L;RLH?PABQ>H??B<>KHKPA>K>:G>Q>
H??B<>KP:LIK>OBHNLER>FIEHR>=)HG>H?MA>L>MK:GL:=:K>E:M>=
I:KMRMK:GL:JNBK>=:IIKHO:E;RMA>
N=BMHFFBMM>>
!*,'*!&(&&
*NKH:K=;>EB>O>LBG=>I>G=>G<>BL:GMH?HNK@HO>KG:G<>LMK:M>@R:G=MA:MBM^L=
BG=>I>G=>G<>>G:;E>LBMMH;>H;C>BG<:KKRBG@HNMBMLHO>KLB@AMK>LIHGLB;BEBMB>L*NKHKIHK:M>"HO>KG:G<>"NB=>EBG>L
IKHOB=>MA:M:LN;LM:GMB:EF:CHKBMRH?HNK=BK>BG=>I>G=>GM:G=MA:M>:>PBEE;>F:=>NIH?LHE>ER
BG=>I>G=>GM=BK>LD^LBG=>I>G=>GM=BK>>MK>@NE:KERBG>Q>L>LLBHGPBMAHNMF:G:@>F>GMIK>L>GM:L
I:KMH?MA>JN:KM>KERH:K=F>>MBG@LPBMAMA>BGM>GMMH?:HI>G=BLLB=>L:MMA>L>
>Q>L>LLBHGL


 ::K:G=;>?HK>:G>P=BK>=MA>H:K=FNLM:??BKF:MBO>ER=>M>KFBG>:=BK>E:MBHGLABI
MA:MPHNE=BGM>K?>K>PBMAMA>>Q>KH?BG=>I>G=>GMCN=@F>GMBG<:KKRBG@HNMMA>BKK>LIHGLB;BEBMB>L:L:=BK>:M>L:=>M:BE>=JN>LMBHGG:BK>MA:MIKHOB=>LBG?HKF:MBHG:;HNMK>E:MBHGLABILMA:MFB@AM:??>
=>M>KFBG:MBHGH?BG=>I>G=>G<>NMH=>LDF:G:@>F>GMIKHOB=>LMA>HKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>:G=MA>
H:K=PBMAMA>K>E>O:GMBG?HKF:MBHG?KHFMA>JN>LMBHGG:BK>L:EHG@PBMADGHPG?:LH?:GRK>E:MBHGLABI
;>:KBG@HGMA>BG=>I>G=>G<>H?:=BK>>/A>HKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>MA>GM>L
:G:LL>LLF>GMH?>:KBG@:EEDGHPGK>E>O:GM?:LKGBG@:GRK>E:MBHGLABI;>:KBG@HG
MA>BG=>I>G=>G<>H?:=BK>>/ABLIKH<>LLBGL>O:EN:MBG@PA>MA>K:GRB=>GMB?B>=K>E:MBHGLABIHMA>KPBL>
:=O>KL>ER:??>I>G=>G<>:G=:??BKF:MBO>ER=>M>KFBGBG@MA:MMA>=BK>KB:EK>E:MBHGLABIPBMA
NMH=>LD:GHMA>K=BK>KLMHKHKH??B<>KH?:GHK@:GBS:MBHGMA:MA:L:K>E:MBHGLABIPBMANMH=>LDL
I:KMH?BML:GGN:EK>OB>PIKH<>LLHNKHKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>:ELHKL:=BK>GNK>
LK>JNBK>=;RMA>):L=:JEBLMBG@LM:G=:K=L:F:CHKBMRH?MA>F>F;>KLH?HNKH:K=JN:EB?R:L[BG=>I>G=>GM\/A>H:K=
A:L=>M>KFBG>=MA:MPBMAMA>>Q<>IMBHGH?KG:@GHLMHNK+K>LB=>GM:G= *:G=(L-:?:>EHNK$GM>KBF!*:EEH?BML
F>F;>KL:K>[BG=>I>G=>GM=BK>KFBL=>?BG>=;R:IIEB<:;E>):L=:JEBLMBG@LM:G=:K=L/A:M=>?BGBMBHGBGL:
L>KB>LH?H;C>M>LMLBG=BK>FIEHR>>H?MA>G@:@>=BGO:KBHNLMRI>LH?
;NLBG>LL=>:EBG@LPBMAMA>KK>JNBK>=;R:IIEB<:;E>):L=:JEBLMBG@LM:G=:K=LMA>H:K=A:LF:=>
:LN;C>=>M>KFBG:MBHG:LMH>:I>G=>GM=BK>E:MBHGLABIL>QBLMMA:MPHNE=BGM>K?>K>PBMAMA>>Q>KH?
BG=>I>G=>GMCN=@F>GMBG<:KKRBG@HNMMA>K>LIHGLB;BEBMB>LH?:=BK>=HGMA>K>OB>P:G=K>G=:MBHG;RMA>HKIHK:M>"HO>KG:G<>:G=)HFBG:MBG@HFFBMM>>MA>H:K=:G:ERS>=
MA>BG=>I>G=>G<>H?>:H:K==>M>KFBG>=MA:M(L>LE:LBG@#HP:K=(<HP>EE:G=)HKKBG@MHG:G=(>LLKL
!K>G>MMA>LM:G=:K=LH?BG=>I>G=>G<>NG=>KHNKHKIHK:M>"HO>KG:G<>"NB=>EBG>L
:G=MA>):L=:JEBLMBG@LM:G=:K=LBG:F;>KBL?K>>H?:GRK>E:MBHGLABIMA:MPHNE=BGM>K?>K>PBMAABLHKA>K
BG=BOB=N:E>Q>KH?BG=>I>G=>GMCN=@F>GM
!,%

(*!&!($'-&,!&+&+*.!+
/A>?HEEHPBG@M:;E>IK>L>GML?>>L;BEE>=?HKIKH?>LLBHG:E:N=BML>KOB<>L:G=HMA>KL>KOB<>LK>G=>K>=MHNMH=>LD;R 4
:G=BML:??BEB:M>L?HKMA>?BL<:ER>:KL>G=>=%:GN:KR:G=
>H86A1:6G
>H86A1:6G
>CB>AA>DCH
N=BM!>>L	




N=BM
->E:M>=!>>L	
Z


/:Q!>>L	



EE*MA>K!>>L	
Z


/HM:E




88888888888888888
	
N=BM!>>L=H??>>L;BEE>=?HKIKH?>LLBHG:EL>KOB<>LK>G=>K>=?HKMA>BGM>@K:M>=:N=BMH?NMH=>LD^L:GGN:E?BG:GF>GML
:G=F:G:@>F>GM^LK>IHKMHGBGM>KG:E=BGNMH=>LDLGGN:E->IHKMLHG!HKF
&?HKMA>K>OB>PH?MA>?BG:GF>GMLBG=BGNMH=>LD^L,N:KM>KER->IHKMLHG!HKF
,:G=?HKHMA>KL>KOB<>LBGKOB<>L
K>G=>K>=BGE:M>=!>>L=H??>>L?HK:LLNK:G<>:G=K>E:M>=L>KOB<>LMA:M:K>K>:LHG:;ERK>E:M>=MHMA>I>K?HKF:G<>H?MA>:N=BMHK
K>OB>PH?HNK?BG:GF>GML/ABL<:M>@HKRBGL?>>L:KBLBG@?KHF:<E:M>=KOB<>L
	
/:Q!>>L=H??>>L;BEE>=?HKM:QKOB<>L
	
*MA>K?>>L=H??>>L?HKI>KFBLLB;E>MK:BGBG@IKH@K:FL:G=LN;L>L?HK:GHGEBG>:<L>:KG>K:EER:EE:N=BM:G=GHG
:N=BML>KOB<>LIKHOB=>=;R 4:G=BML:??BEB:M>LMHNMH=>LDFNLM;>IK>
:IIKHO>=;RMA>
N=BMHFFBMM>>/A>N=BMHFFBMM>>BLIK>L>GM>=PBMA:=>M:BE>=EBLMBG@H?MA>BG=BOB=N:E:N=BM:G=GHG
:N=BML>KOB<>L:G=
?>>LL>I:K:M>ER=>LE:M>=L>KOB<>LM:QL>KOB<>L:G=HMA>KL>KOB<>L	>QI>=MH;>IKHOB=>=;R 4:G=BML
:??BEB:M>L=NKBG@MA>R>:K/A>N=BMHFFBMM>>BL:ELHK>LIHGLB;E>?HKMA>:N=BM?>>G>@HMB:MBHGL:LLH=PBMANMH=>LD^L
K>M>GMBHGH? 4+>KBH=B<:EERMA>N=BMHFFBMM>>K><>BO>L:GNI=:M>H?:EEIK>
:IIKHO>=:N=BM:G=GHG
:N=BML>KOB<>L
=:G=BG?HKF:MBHGK>@:K=BG@:GRG>P:N=BM:G=GHG
:N=BML>KOB<>LMH;>IKHOB=>=;R 4:G=BML:??BEB:M>L/A>N=BM
HFFBMM>>K>OB>PLMA>NI=:M>:G=:IIKHO>LMA>IKHIHL>=L>KOB<>LB?MA>R:K>=>>F>=:<<>IM:;E>


/H>GLNK>IKHFIMA:G=EBG@H?NG>QI>=F:MM>KLMA>A:BKH?MA>N=BMHFFBMM>>A:L:NMAHKBMRMH:F>G=HKFH=B?R
MA>EBLMH?:IIKHO>=:N=BM:G=GHG
:N=BML>KOB<>L:G=?>>LLHEHG@:LLNG=>=L>KOB<>L=HGHM:??>I>G=>G<>NG=>K:IIEB<:;E>. KNE>L/A>A:BKK>IHKML:GRLNG:MLN;L>JN>GMN=BMHFFBMM>>F>>MBG@L


(*,!.
!,%

0 !!,+&!&&!$+,,%&,+ -$+
:	/A>?HEEHPBG@=HGML:K>?BE>=:LI:KMH?MABL->IHKM

5:-:/5-8(@-@191:@?/A>BG?HKF:MBHGKGBG@NMH=>LD^L?BG:GF>GML:G=MA>->IHKMH? KGLM
4HNG@''+$G=>I>G=>GM->@BLM>K>=+N;EB<<JNBK>=
;RMABL$M>FBLBG=;RK>?>K>G<>A>K>BGMHMA>L>IHKMBG+:KM$$$M>F>GMBME>=[!BG:GF>GML:G=.NIIE>F>GM:KR:M:\

5:-:/5-8(@-@191:@(/410A81/A>?HEEHPBG@?BG:GF>GML=NE>H?NMH=>LD$G<?HKMA>?BL<:ER>:KL
>G=>=%:GN:KR:G=BL?BE>=:LI:KMH?MABL->IHKM:G=LAHNE=;>K>:=BG
HGLHEB=:M>=!BG:GF>GMLH?NMH=>LD$G<
.=NE>$$1:EN:MBHG:G=,N:EB?RBG@<=NE>LGHMEBLM>=:;HO>A:O>;>>GHFBMM>=;><:NL>MA>R:K>GHM:IIEB<:;E>HK:K>GHMK>JNBK>=HKMA>BG?HKF:MBHG
K>JNBK>=MH;>L>M?HKMAMA>K>BGBLBG=BGMA>HGLHEB=:M>=!BG:GF>GMLHK)HM>LMA>K>MH

D45.5@?.>>$M>F;	;>EHP2>A:O>?BE>=HKBG=BGMHMABL->IHKM;RK>?>K>G<>MA>>QAB;BMLEBLM>=HG
MA>:<QMH QAB;BMLBFF>=B:M>ERIKBHKMHMA>LB@G:MNK>I:@>H?MABL!HKF
&
;	 QAB;BML
2>A:O>?BE>=HKBG=BGMHMABL->IHKM;RK>?>K>G<>MA>>QAB;BMLEBLM>=HGMA>:<QMH
 QAB;BMLBFF>=B:M>ERIKBHKMHMA>LB@G:MNK>I:@>H?MABL!HKF
&
<	!BG:GF>GM.=NE>L.>>$M>F:	:;HO>
!,%
 !&&!$+,,%&,+ -$
+ -$!!.$-,!'&&)-$!1!&'-&,+
>CB>AA>DCH
:H8G>EI>DC
6A6C8:6I
:<>CC>C<
D;>H86A1:6G
99>I>DCH
=6G<:9ID
DHIH6C9
ME:CH:HDG
*:K:CJ:H
:9J8I>DCH
6A6C8:6I
C9D;>H86A1:6G
>CB>AA>DCH
>H86A1:6GC9:9"6CJ6GN

+:KMG>KIKH@K:FK>L>KO>L	








>H86A1:6GC9:9"6CJ6GN

+:KMG>KIKH@K:FK>L>KO>L	







>H86A1:6GC9:9"6CJ6GN

+:KMG>K+KH@K:FK>L>KO>L	







88888888888888888888
	
/A>I:KMG>KIKH@K:FK>L>KO>L;:E:G<>BFI:<>BO:;E>G>M:G=<HGMA>:<=
:E:G<>.A>>ML
!,%

'*%
	#+-%%*1
)HG>


!C9:MIDM=>7>IH

F>G=>=:G=->LM:M>=>KMB?B<:M>H?$G@BLMK:GM

&





F>G=>=:G=->LM:M>=RE:PLH?->@BLMK:GM

&





$G=>GMNK>=:M>=><>F;>K;R:G=;>MP>>GMA>->@BLMK:GM
:G=0.:GD):MBHG:ELLHF>GM:E$G=>GMNK>BGL	=:M>=
><>F;>K;R:G=;>MP>>GMA>->@BLMK:GM:G=0.:GD
):MBHG:ELLHF>GM:E$G=>GMNK>BGL	=:M>=%NG>
;R:G=;>MP>>GMA>->@BLMK:GM:G=0.:GD):MBHG:E
LLHF>GM:E$G=>GMNK>BGL	=:M>=
%:GN:KR;R:G=;>MP>>GMA>->@BLMK:GM:G=0.):MBHG:E
:GDLLHF>GM:E$G=>GMNK>=:M>=*K;R:G=;>MP>>G
->@BLMK:GM:G=0.:GD):MBHG:ELLH?HKNMH=>LD$G<^L)HM>L=N>

&





>L@BLMK:GML:IBM:E.MHL@BLMK:GML+>K?HKF:G<>.MH@BLMK:GML FIEHR>>.MHG=>=:G=K>LM:M>=
>??>:LH?%NG>

,





->@BLMK:GML FIEHR>>.MHLMKB=.MH>F>GM:L:F>G=>=:G=K>LM:M>=

,





->@BLMK:GML FIEHR>>.MHO>K:G<>->LMKB=
.MH>F>GM:L:F>G=>=:G=K>LM:M>=

,





->@BLMK:GML FIEHR>>.MH>F>GM

&





->@BLMK:GML FIEHR>>.MH>F>GMGHG
0. FIEHR>>L	

&





+E:G"KB=$G< JNBMR$G<>GMBO>+E:G
.






F>G=>=:G=->LM:M>=NBE=BG@HGG>=$G<.MH@BLMK:GML*NMLB=>BK>G=>=:G=
K>LM:M>=

&





->@BLMK:GML*NMLB=>BK>LMKB=
.MH>F>GM

&





->@BLMK:GML*NMLB=>BK>LMKB=
.MH>F>GM

,





->@BLMK:GM^L Q>$G<>GMBO>+E:G:L:F>G=>=:G=K>LM:M>=

&





->@BLMK:GM^L)HG
,N:EB?B>=>?>KK>=HFI>GL:MBHG+E:G:L
:F>G=>=:G=K>LM:M>=>??>:LH?%:GN:KR

,





 Q>A:G@>BGHGMKHE+KH@K:F:L:F>G=>=:G=K>LM:M>=

&





!HKFH?$G=>FGB?B<:MBHG@K>>F>GM>Q>=;RMA>->@BLMK:GM:G=
>:KL:G==BK>=->MBK>F>GM@K>>F>GMNG=>KMA>->@BLMK:GM
F>G=>=:G=->LM:M>=.>O>K:G<>+E:G:G=.NFF:KR+E:G
>L=(:KGM@K>>F>GM=:M>=:LH?%NG>;R:G=;>MP>>G
MA>->@BLMK:GM:G=G=K>PG:@GHLM

&





!BKLMF>G=F>GMMHG=K>PG:@GHLM FIEHRF>GM@K>>F>GM
=:M>=:LH?IKBE;R:G=;>MP>>GMA>->@BLMK:GM:G=
G=K>PG:@GHLM

&





>;HK:AEB??HK=*??>K'>MM>K=:M>=!>;KN:KR

,





->@BLMK:GMF>G=>=:G=->LM:M>=.>O>K:G<>+E:G:G=.NFF:KR+E:G
>L=(:K@BLMK:GML FIEHR>>.MHMBK>F>GM
->LMKB=.MH>F>GM:L:F>G=>=:G=K>LM:M>=

&





F>G=F>GM)HMHF>G=>=:G=->LM:M>=K>=BM@K>>F>GM=:M>=
)HO>F;>K

,





NMH=>LD$G< JNBMR$G<>GMBO>+E:G

&




M=>7>I
>A:9
!C8DGEDG6I:97N*:;:G:C8:
&JB7:G
:H8G>EI>DC
 :G:L>I=
DGB
+>A:&D
M=>7>I
>A>C<6I:



NMH=>LD$G< JNBMR$G<>GMBO>+E:G!HKFH?"EH;:E-.0
@K>>F>GM
3

NMH=>LD$G<BK>GL:MBHG+HEBLD$G< JNBMR$G<>GMBO>+E:G!HKFH?BK>>F>GM

&





->@BLMK:GM^L FIEHR>>,N:EB?B>=.MH+E:G:L
:F>G=>=:G=K>LM:M>=>??>:LH?><>F;>KBML!HKFL
H?.N;L>F>GM:G=$GM>KG:MBHG:E.N;
+E:G

&





NMH=>LD$GLB=>K/K:=BG@+HEBL
3

HGL>GMH?$G=>I>G=>GM->@BLM>K>=+N;EB<<=A>K>PBMA	
3

+HP>KH?MMHKG>R=BGMA>LB@G:MNK>I:@>MHMABLGGN:E
->IHKMHG!HKF
&	
3

>KMB?B<:MBHGH?AB>? Q>*??B<>KINKLN:GMMH-NE>:
:	
H?MA>.>L QKMB?B<:MBHGH?AB>?!BG:GKINKLN:GMMH-NE>:
:	H?
MA>.>L QKMB?B<:MBHGH?AB>? Q>*??B<>K:G=AB>?!BG:GK
INKLN:GMMH0..>=INKLN:GMMH.>.:K;:G>L
*QE>RLD$G<E:P;:HGM
.#
UU
3-'/:QHGHFR QM>GLBHG.F:
'
UU
3-'/:QHGHFR QM>GLBHG:E
 !
UU
3-'/:QHGHFR QM>GLBHG>?BGBMBHG'BGD;:L>
'
UU
3-'/:QHGHFR QM>GLBHG':;>E'BGD;:L>
+- 
UU
3-'/:QHGHFR QM>GLBHG+K>L>GM:MBHG'BGD;:L>

HO>K+:@>$GM>K::M:!BE>?HKF:MM>=:L$GEBG>3-':G=
=BG QAB;BM	
M=>7>I
>A:9
!C8DGEDG6I:97N*:;:G:C8:
&JB7:G
:H8G>EI>DC
 :G:L>I=
DGB
+>A:&D
M=>7>I
>A>C<6I:
88888888888888888888


>GHM>L:F:G:@>F>GMGL:MHKRIE:GHK:KK:G@>F>GM
U
/A><>KMB?B<:MBHGL:MM:=:L QAB;BMMA:M:<IHKMHG!HKF
&:K>GHM=>>F>=?BE>=PBMAMA>.>L
:G= QHFFBLLBHG:G=:K>GHMMH;>BG=;RK>?>K>G<>BGMH:GR?BEBG@H?NMH=>LD$G<NG=>KMA>.>LG=>=HKMA>.>L QG=>=PA>MA>KF:=>;>?HK>HK:?M>KMA>=:M>H?MABL!HKF
&
BKK>LI>H?:GR@>G>K:EBG=BGLN?BG:G=BGMA>L>3-'=HGMLBLNG:N=BM>=


+!&,-*+
(JGHJ6CIIDI=:G:FJ>G:B:CIHD;+:8I>DC
DG
9D;I=:+:8JG>I>:HM8=6C<:8ID;
I=:*:<>HIG6CI=6H
9JAN86JH:9I=>H*:EDGIID7:H>IH7:=6A;7NI=:JC9:GH>O:9
-,'+#!&
R
L)- 2)")*./
C9G:LC69:CI6C9=>:;M:8JI>K:';;>8:G
:M>=
%NG>


('/*',,'*&1
#&'/$$(*+'&+1, +(*+&,+MA:M>:KLHGPAHL>LB@G:MNK>:II>:KL;>EHPL:G=
:IIHBGMLG=K>PG:@GHLM:G= EBS:;>MA-:?:>E>:K:MMHKG>R
BG
?::IHP>KH?LN;LMBMNMBHG?HKABF
HKA>KBG:GR:G=:EE<:I:LMHLB@G:GR:F>G=F>GMLMHMABL->IHKMHG!HKF
&:G=MH?BE>MA>L:F>PBMA>QAB;BMLMA>K>MH
:G=HMA>K=HGMLBGK>PBMAPBMAMA>.>L:G= QHFFBLLBHGA>K>;RK:MB?RBG@:G=:RL
BG
?:HKLN;LMBMNM>LF:R=HHK<:NL>MH;>=HG>;ROBKMN>A>K>H?
(JGHJ6CIIDI=:G:FJ>G:B:CIHD;I=:+:8JG>I>:HM8=6C<:8ID;
I=>H*:EDGI=6H7::CH>C<E:GHDCHDC7:=6A;D;I=:*:<>HIG6CI6C9>CI=:86E68>I>:H6HD;"JC:

+>IA:
L)- 2)")*./
+K>LB=>GM:G=AB>? Q>*??B<>KBK>*??B<>K	
G=K>PG:@GHLM
L '$5 /#-! '
$GM>KBFAB>?!BG:GKBK>K	
 EBS:;>MA-:?:>E
L./ +# )2#*+ 
.>GBHK1B<>+K>LB=>GM:G=AB>?<K
+KBGK	
.M>IA>G2#HI>
L./4%.($/#
BK>Q>A:BKF:GH?MA>H:K=	
.M:GE:LBG@
L- $!- )#
BK>B=!K>GEE
L'& %$-1$)"
BK>%$KOBG@
L./ +# )($''$")
BK>IA>G(BEEB@:G
L'*--$ ()*--$)"/*)
BK>()HKKBG@MHG
L-($-#$(
BK>