Quarterlytics / Consumer Cyclical / Auto - Dealerships / AutoNation

AutoNation

an · NYSE Consumer Cyclical
Claim this profile
Ticker an
Exchange NYSE
Sector Consumer Cyclical
Industry Auto - Dealerships
Employees 10,000+
← All annual reports
FY2024 Annual Report · AutoNation
Sign in to download
Loading PDF…
2 0 24
ANNUAL REPORT
AutoNation. 


)"('(('
')&('","#!!''#"
+/@67;5A<;		

#&!
%6G@'C:

"") &$#&($)&')"((#'(#"#&2#(')&(',"(
#
DGI=:;>H86AN:6G:C9:9313:03?


DG

(&"'(#"&$#&($)&')"((#'(#"#&2#(')&(',"
(#

DGI=:IG6CH>I>DCE:G>D9;GDB55555555ID55555555
DBB>HH>DC>A:&JB7:G
)(#"(#""	
M68IC6B:D;G:<>HIG6CI6HHE:8>;>:9>C>IH8=6GI:G
39/D/?3


+I6I:DGDI=:G?JG>H9>8I>DCD;
>C8DGEDG6I>DCDGDG<6C>O6I>DC

!*+BEADN:G!9:CI>;>86I>DC&D

'+@AC3

C8>E6A:M:8JI>K:D;;>8:H

2>ED9:

*:<>HIG6CIZHI:A:E=DC:CJB7:G	>C8AJ9>C<6G:68D9:
+:8JG>I>:HG:<>HI:G:9EJGHJ6CIID+:8I>DC7D;I=:8I
(7A93<43/1619/@@
(?/27;5'F:0<9@
"/:3<43/163E16/;53<;D6716?357@A3?32
DBBDC+ID8@	(6G.6AJ:

(:G+=6G:
&
&:L1DG@+ID8@M8=6C<:
+:8JG>I>:HG:<>HI:G:9EJGHJ6CIID+:8I>DC<D;I=:8I&DC:
!C9>86I:7N8=:8@B6G@>;I=:G:<>HIG6CI>H6L:AA
@CDLCH:6HDC:9>HHJ:G	6H9:;>C:9>C*JA:
D;I=:+:8JG>I>:H8I1:H&D
!C9>86I:7N8=:8@B6G@>;I=:G:<>HIG6CI>HCDIG:FJ>G:9ID;>A:G:EDGIHEJGHJ6CIID+:8I>DCDG+:8I>DC9D;I=:M8=6C<:8I1:H&D
!C9>86I:7N8=:8@B6G@L=:I=:GI=:G:<>HIG6CI=6H;>A:96AAG:EDGIHG:FJ>G:9ID7:;>A:97N+:8I>DCDG9D;I=:+:8JG>I>:HM8=6C<:8ID;
9JG>C<I=:EG:8:9>C<BDCI=HDG;DGHJ8=H=DGI:GE:G>D9I=6II=:G:<>HIG6CIL6HG:FJ>G:9ID;>A:HJ8=G:EDGIH	6C9=6H7::CHJ7?:8IIDHJ8=;>A>C<
G:FJ>G:B:CIH;DGI=:E6HI
96NH1:H&D
!C9>86I:7N8=:8@B6G@L=:I=:GI=:G:<>HIG6CI=6HHJ7B>II:9:A:8IGDC>86AAN:K:GN!CI:G68I>K:6I6>A:G:FJ>G:9ID7:HJ7B>II:9EJGHJ6CIID*JA:
D;
*:DC+
,P
D;I=>H8=6EI:G9JG>C<I=:EG:8:9>C<BDCI=HDG;DGHJ8=H=DGI:GE:G>D9I=6II=:G:<>HIG6CIL6HG:FJ>G:9IDHJ7B>IHJ8=
;>A:H1:H&D
!C9>86I:7N8=:8@B6G@L=:I=:GI=:G:<>HIG6CI>H6A6G<:688:A:G6I:9;>A:G	6C688:A:G6I:9;>A:G	6CDC
688:A:G6I:9;>A:G	6HB6AA:GG:EDGI>C<8DBE6CN	DG6C
:B:G<>C<C>I>DCHD;XA6G<:688:A:G6I:9;>A:G	YX688:A:G6I:9;>A:G	YXHB6AA:GG:EDGI>C<8DBE6CN	Y6C9X:B:G<>C<C*JA:7
D;I=:M8=6C<:8I
$6G<:688:A:G6I:9;>A:G

88:A:G6I:9;>A:G

&DC
688:A:G6I:9;>A:G

+B6AA:GG:EDGI>C<8DBE6CN

B:G<>C<C<C9>86I:7N8=:8@B6G@>;I=:G:<>HIG6CI=6H:A:8I:9CDIIDJH:I=::MI:C9:9IG6CH>I>DCE:G>D9;DG8DBEAN>C<L>I=6CN
C:LDGG:K>H:9;>C6C8>6A688DJCI>C<HI6C96G9HEGDK>9:9EJGHJ6CIID+:8I>DC6D;I=:M8=6C<:8I
!C9>86I:7N8=:8@B6G@L=:I=:GI=:G:<>HIG6CI=6H;>A:96G:EDGIDC6C96II:HI6I>DCID>IHB6C6<:B:CIZH6HH:HHB:CID;I=::;;:8I>K:C:HHD;>IH>CI:GC6A
8DCIGDADK:G;>C6C8>6AG:EDGI>C<JC9:G+:8I>DC
7D;I=:+6G76C:H
'MA:N8I-+77NI=:G:<>HI:G:9EJ7A>8688DJCI>C<;>GBI=6I
EG:E6G:9DG>HHJ:9>IH6J9>IG:EDGI
!;H:8JG>I>:H6G:G:<>HI:G:9EJGHJ6CIID+:8I>DC7D;I=:8I	>C9>86I:7N8=:8@B6G@L=:I=:GI=:;>C6C8>6AHI6I:B:CIHD;I=:G:<>HIG6CI>C8AJ9:9>CI=:
;>A>C<G:;A:8II=:8DGG:8I>DCD;6C:GGDGIDEG:K>DJHAN>HHJ:9;>C6C8>6AHI6I:B:CIH
!C9>86I:7N8=:8@B6G@L=:I=:G6CND;I=DH::GGDG8DGG:8I>DCH6G:G:HI6I:B:CIHI=6IG:FJ>G:96G:8DK:GN6C6ANH>HD;>C8:CI>K:
76H:98DBE:CH6I>DC
G:8:>K:97N6CND;I=:G:<>HIG6CIZH:M:8JI>K:D;;>8:GH9JG>C<I=:G:A:K6CIG:8DK:GNE:G>D9EJGHJ6CIIDP


7
!C9>86I:7N8=:8@B6G@L=:I=:GI=:G:<>HIG6CI>H6H=:AA8DBE6CN6H9:;>C:9>C*JA:7
D;I=:M8=6C<:8I1:H&D
HD;"JC:	
	I=:A6HI7JH>C:HH96ND;I=:G:<>HIG6CIZHBDHIG:8:CIAN8DBEA:I:9H:8DC9;>H86AFJ6GI:G	I=:6<HIG6CI=:A97NCDC
6;;>A>6I:HL6H6EEGDM>B6I:AN7>AA>DC76H:9DCI=:8ADH>C<EG>8:D;I=:8DBBDCHID8@DCI=:&:L1DG@+ID8@
M8=6C<:DCHJ8=96I:;DGI=:EJGEDH:D;I=>H86A8JA6I>DC	I=:G:<>HIG6CI6HHJB:9I=6I:68=D;>IH9>G:8IDGH	:M:8JI>K:D;;>8:GH	6C9A>6I:D;I=:G:<>HIG6CI6HD;"JC:	

HD;:7GJ6GN	
	I=:G:<>HIG6CI=69	
	H=6G:HD;8DBBDCHID8@DJIHI6C9>C<
#)!"('"#&$#&(-&&"
(DGI>DCHD;I=:G:<>HIG6CIZH(GDMN+I6I:B:CIG:A6I>C<ID>IH
CCJ6A%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9
D;I=:;>H86AN:6G:C9:9:8:B7:G	
	6G:>C8DGEDG6I:9=:G:>C7NG:;:G:C8:>C(6GI!!!


)(#"(#""	
#&!
#&(' -&"!&


",
$&(
(6<:
!I:B
JH>C:HH

!I:B
*>H@68IDGH

!I:B
-CG:HDAK:9+I6;;DBB:CIH

!I:B
N7:GH:8JG>IN

!I:B
(GDE:GI>:H

!I:B
$:<6A(GD8::9>CC:+6;:IN>H8ADHJG:H

$&(
!I:B
%6G@:I;DG*:<>HIG6CIZHDBBDCFJ>IN	*:A6I:9+ID8@=DA9:G%6II:GH6C9!HHJ:G(JG8=6H:HD;
FJ>IN+:8JG>I>:H

!I:B
3*:H:GK:94

!I:B
%6C6<:B:CIZH>H8JHH>DC6C9C6ANH>HD;>C6C8>6ADC9>I>DC6C9*:HJAIHD;'E:G6I>DCH

!I:B
)J6CI>I6I>K:6C9)J6A>I6I>K:>H8ADHJG:H7DJI%6G@:I*>H@

!I:B
>C6C8>6A+I6I:B:CIH6C9+JEEA:B:CI6GN6I6

!I:B
=6C<:H>C6C9>H6I=88DJCI6CIHDC88DJCI>C<6C9>C6C8>6A>H8ADHJG:

!I:B
DCIGDAH6C9(GD8:9JG:H

!I:B
'I=:G!C;DGB6I>DC

!I:B
>H8ADHJG:*:<6G9>C<DG:>H9>8I>DCHI=6I(G:K:CI!CHE:8I>DCH

$&(
!I:B

>G:8IDGH	M:8JI>K:';;>8:GH6C9DGEDG6I:DK:GC6C8:

!I:B
M:8JI>K:DBE:CH6I>DC

!I:B
+:8JG>IN'LC:GH=>ED;:GI6>C:C:;>8>6A'LC:GH6C9%6C6<:B:CI6C9*:A6I:9+ID8@=DA9:G
%6II:GH

!I:B
:GI6>C*:A6I>DCH=>EH6C9*:A6I:9,G6CH68I>DCH	6C9>G:8IDG!C9:E:C9:C8:

!I:B
(G>C8>E6A88DJCI6CI::H6C9+:GK>8:H

$&(*
!I:B
M=>7>IH6C9>C6C8>6A+I6I:B:CI+8=:9JA:H

!I:B
DGB
#+JBB6GN


[This page intentionally left blank] 

$&(
(!	
 
3;3?/9
JID&6I>DC	!C8	I=GDJ<=>IHHJ7H>9>6G>:H	>HDC:D;I=:A6G<:HI6JIDBDI>K:G:I6>A:GH>CI=:-C>I:9+I6I:HHD;
:8:B7:G	
	L:DLC:96C9DE:G6I:9C:LK:=>8A:;G6C8=>H:H;GDBHIDG:HAD86I:9>CI=:-C>I:9+I6I:H	
EG:9DB>C6CIAN>CB6?DGB:IGDEDA>I6CB6G@:IH>CI=:+JC7:AIG:<>DC'JGHIDG:H	L=>8=L:7:A>:K:>C8AJ9:HDB:D;I=:BDHI
G:8DO67A:6C9L:AA
@CDLC>CDJG@:NB6G@:IH	H:AA9>;;:G:CIC:LK:=>8A:7G6C9H,=:8DG:7G6C9HD;C:LK:=>8A:H
I=6IL:H:AA	G:EG:H:CI>C<6EEGDM>B6I:AND;I=:C:LK:=>8A:HI=6IL:HDA9>C
	6G:B6CJ;68IJG:97N,DNDI6
>C8AJ9>C<$:MJH	 DC96	DG9	:C:G6A%DIDGH	%/	%:G8:9:H
:CO	+I:AA6CI>H	6C9.DA@HL6<:C>C8AJ9>C<J9>6C9
(DGH8=:HD;:8:B7:G	
	L:6AHDDLC:96C9DE:G6I:9JID&6I>DC
7G6C9:98DAA>H>DC8:CI:GH	JID&6I>DC
-+JH:9K:=>8A:HIDG:H	JID&6I>DC
7G6C9:96JIDBDI>K:6J8I>DCDE:G6I>DCH	E6GIH9>HIG>7JI>DC8:CI:GH	6BD7>A:
6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:7JH>C:HH	6C96C6JID;>C6C8:8DBE6CN
/:D;;:G69>K:GH>;>:9G6C<:D;6JIDBDI>K:EGD9J8IH6C9H:GK>8:H	>C8AJ9>C<C:LK:=>8A:H	JH:9K:=>8A:H	XE6GIH6C9
H:GK>8:Y6AHDG:;:GG:9ID6HX;I:G
+6A:HY	L=>8=>C8AJ9:H6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H6HL:AA6H
L=DA:H6A:E6GIH6C98DAA>H>DC7JH>C:HH:H	6C96JIDBDI>K:X;>C6C8:6C9>CHJG6C8:YEGD9J8IH6AHDG:;:GG:9ID6HXJHIDB:G
>C6C8>6A+:GK>8:HY	L=>8=>C8AJ9:K:=>8A:H:GK>8:6C9DI=:GEGDI:8I>DCEGD9J8IH	6HL:AA6HI=:6GG6C<>C<D;;>C6C8>C<;DG
K:=>8A:EJG8=6H:HI=GDJ<=I=>G9
E6GIN;>C6C8:HDJG8:H/:6AHDD;;:G>C9>G:8I;>C6C8>C<I=GDJ<=DJG86EI>K:6JID;>C6C8:
8DBE6CNDCK:=>8A:HL:H:AA,=:;DAADL>C<8=6GIHEG:H:CII=:8DCIG>7JI>DCIDIDI6AG:K:CJ:6C9I7N:68=D;C:L
K:=>8A:	JH:9K:=>8A:	E6GIH6C9H:GK>8:	6C9;>C6C8:6C9>CHJG6C8:H6A:H>C

DG8DCK:C>:C8:	I=:I:GBHXJID&6I>DC	YXDBE6CN	YXL:	YXJH	Y6C9XDJGY6G:JH:9IDG:;:G8DAA:8I>K:ANID
JID&6I>DC	!C86C9>IHHJ7H>9>6G>:H	JCA:HHDI=:GL>H:G:FJ>G:97NI=:8DCI:MI'JGHIDG:6C9DI=:GDE:G6I>DCH6G:
8DC9J8I:97NDJGHJ7H>9>6G>:H
&3=8	!BEDGI	(G:B>JB$JMJGN	6C9JID&6I>DC
>C6C8:'JGDB:HI>8	!BEDGI	6C9(G:B>JB$JMJGNH:H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAI=:
;DAADL>C<C:LK:=>8A:7G6C9H
<:3@A71
:=8@
DG9
8JG6
%6O96
HIDC%6GI>C
$6C9*DK:G
69>AA68
%
:C:H>H
&>HH6C
J9>
$:MJH
=:KGDA:I
"::E
 DC96
+J76GJ
:CIA:N
%:G8:9:H
:CO
=GNHA:G
$>C8DAC
 NJC96>
,DNDI6
%/
%!&!
D9<:
*6B
!C;>C>I>
.DA@HL6<:C
"6C<I67A:H:IH;DGI=>C;DGB6I>DCG:<6G9>C<DJGC:LK:=>8A:G:K:CJ:H6C9G:I6>AC:LK:=>8A:JC>IH6A:H;DGI=:
N:6G:C9:9	6C9I=:CJB7:GD;;G6C8=>H:HDLC:96HD;	:8:B7:G	

"3D*367193
&3C3;B3@
7;:7997<;@
&3A/79
"3D*367193
);7A'/93@
<4(8
DG9	$>C8DAC

	

	




=:KGDA:I	J>8@	69>AA68	%

	


	





=GNHA:G	D9<:	"::E	*6B



	




DB:HI>8,DI6A

	

	



!BEDGI
,DNDI6

	



	




 DC96

	


	





&>HH6C



	



 NJC96>



	



+J76GJ



	



'I=:G!BEDGI



	



!BEDGI,DI6A

	



	



(G:B>JB$JMJGN
%:G8:9:H
:CO

	

	




%/

	

	




$:MJH





	




J9>



	




"6JB$JMJGN



	



(G:B>JB$JMJGN,DI6A

	


	





	


	






,=:;G6C8=>H:H>C:68=D;DJGDB:HI>8	!BEDGI	6C9(G:B>JB$JMJGNH:8A:H	E6GIH6C9
6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	6C96JIDBDI>K:;>C6C8:6C9>CHJG6C8:EGD9J8IH
'JGJID&6I>DC>C6C8:H:H8DBEG>H:9D;DJG86EI>K:6JID;>C6C8:8DBE6CN	L=>8=EGDK>9:H>C9>G:8I;>C6C8>C<
IDFJ6A>;>:9G:I6>A8JHIDB:GHDCK:=>8A:HL:H:AA
M8:EIIDI=::MI:CII=6I9>;;:G:C8:H6BDC<G:EDGI67A:H:6AID6CJC9:GHI6C9>C<D;DJG7JH>C:HHI6@:C
6H6L=DA:	I=:9:H8G>EI>DCD;DJG7JH>C:HH>CI=>HG:EDGI>HEG:H:CI:9DC68DCHDA>96I:976H>HDG699>I>DC6A;>C6C8>6A
>C;DGB6I>DCG:<6G9>C<DJG;DJGG:EDGI67A:H:96I:9>C6C8>6A+I6I:B:CIHH:I
;DGI=>C(6GI!!	!I:BD;I=>HDGB
#
B@7;3@@'A?/A35F
/:H::@ID8G:6I:ADC<
I:GBK6AJ:;DGDJGHID8@=DA9:GH6C9ID7:I=:7:HI
GJC	BDHIEGD;>I67A:6JIDBDI>K:G:I6>A:G6C9
EGDK>9:GD;E:GHDC6A>O:9IG6CHEDGI6I>DCH:GK>8:H>CI=:-C>I:9+I6I:H/:7:A>:K:I=6II=:H>;>86CIH86A:D;DJGDE:G6I>DCH	
DJG9><>I6A8JHIDB:G:ME:G>:C8:	6C9I=:FJ6A>IND;DJGB6C6<:G>6AI6A:CI6AADLJHID68=>:K::;;>8>:C8>:H>CDJG@:N
B6G@:IH,D68=>:K:6C9HJHI6>CDE:G6I>DC6A:M8:AA:C8:	L:6G:EJGHJ>C<I=:;DAADL>C<HIG6I:<>:H

!/0.%2!0+!0$!*0%+*B>O:I=:E:G;DGB6C8:6C9JI>A>O6I>DCD;DJG6HH:IHI=GDJ<=DE:G6I>DC6A:M8:AA:C8:6C9:ME6C9
I=GDJ<=I=:9:K:ADEB:CI6C9DG68FJ>H>I>DCD;@:N86E67>A>I>:H	EGD9J8IH	6C9G:HDJG8:H/:68=>:K:I=>H7N7DI=


DEI>B>O>C<DJG:M>HI>C<7JH>C:HH6C986EIJG>C<C:L6C99:K:ADE>C<DEEDGIJC>I>:H/:8DCI>CJ:ID>CK:HI>C
HIG6I:<>8E6GIC:GH=>EH6C97GD69:CDJGD;;:G>CI=I=:8=6C<>C<6JIDBDI>K:G:I6>A>C9JHIGN6C9ID
L>9:CDJG688:HHIDC:L6C9:ME6C9>C<H6A:H8=6CC:AH;DGK:=>8A:H	E6GIH6C9H:GK>8:	;>C6C8>C<	6C9E:GHDC6A
IG6CHEDGI6I>DCH:GK>8:H
JID&6I>DC>C6C8:	DJG86EI>K:6JID;>C6C8:8DBE6CN	EGDK>9:H;>C6C8>C<IDFJ6A>;>:9G:I6>A8JHIDB:GHDC8:GI6>C
C:L6C9JH:9K:=>8A:HL:H:AA,=GDJ<=JID&6I>DC>C6C8:	L:=6K:;JGI=:G:MI:C9:9DJGG:A6I>DCH=>EL>I=DJG
8JHIDB:GH7:NDC9I=:86G
7JN>C<:ME:G>:C8:6C9E6GI>8>E6I:>CI=:8JHIDB:GZH:CI>G:K:=>8A:DLC:GH=>E8N8A:H6
G:HJAI	L:6G:67A:ID9>K:GH>;NDJGHDJG8:HD;>C8DB:	<:C:G6I:699>I>DC6AEGD;>IH	86H=;ADLH	6C9H6A:H	6C9
>C8G:6H:8JHIDB:GG:I:CI>DC
/:6AHDEJGHJ:DEEDGIJC>I>:HIDE:C:IG6I:I=::MI:CH>K:;I:G
+6A:HH:GK>8:B6G@:I6C9G:HEDC9IDDJG8JHIDB:GHZ
C::9H7N7GD69:C>C<I=:G:68=D;DJG:M>HI>C<;I:G
+6A:HC:ILDG@JID&6I>DC%D7>A:+:GK>8:	DJGBD7>A:
HDAJI>DC;DG6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	D;;:GH8JHIDB:GHI=:8DCK:C>:C8:D;H:GK>8:H6C9G:E6>GH
6II=:>G=DB:	LDG@EA68:	DGDC
H>I:;DG;A::IK:=>8A:HJID&6I>DC(6GIH8DB	DJG:
8DBB:G8:L:7H>I:	:C67A:H
8JHIDB:GHIDEJG8=6H:=><=
FJ6A>IN6JIDBDI>K:E6GIH6C9688:HHDG>:H6I8DBE:I>I>K:EG>8:H	H=>EE:99>G:8IANID
I=:>G=DB:H
99>I>DC6AAN	L:=6K:B>CDG>INDLC:GH=>EHI6@:H>C6C9EGD9J8I>K:8DAA67DG6I>DCHL>I=/6NBD	I=:H:A;
9G>K>C<
I:8=CDADC<6JIDBDI>K:9><>I6AB6G@:IEA68:I=6IA:IH6JID
7JN:GH6C9H:AA:GH8DCC:8IID>IHC6I>DCL>9:C:ILDG@D;8:GI>;>:99:6A:GH,=:H:>CK:HIB:CIH6C98DAA67DG6I>DCH
G:;A:8IDJG8DCI>CJ:98DBB>IB:CIID:B:G<>C<I:8=CDAD<>:HI=6I>BE68II=:6JIDBDI>K:>C9JHIGN
/:6AHD8DCI>CJ:ID68I>K:ANEJGHJ:68FJ>H>I>DCH6C9C:LHIDG:DEEDGIJC>I>:H	6HL:AA6HDI=:GHIG6I:<>8>C>I>6I>K:H	
I=6IB::IDJGHIG6I:<>86C9;>C6C8>6AD7?:8I>K:H/::ME:8II=6II=:H:D;;:G>CC>I>6I>K:H	E6GIC:GH=>EH	6C9
68FJ>H>I>DCHL>AA8DCI>CJ:ID:ME6C96C9HIG:CDCG:I6>A7G6C9	>BEGDK:I=:8JHIDB:G:ME:G>:C8:	
EGDK>9:C:LI>:H	6C9:C67A:JHID:ME6C9DJG;DDIEG>CI>CDJG8DG:6C9DI=:GB6G@:IH
7
%.!0.%** .!0%*0$!!/00(!*02%((!0+1%(  5*)%0!)/0+/!.2!+1.1/0+)!./
IJID&6I>DC	CDI=>C<9G>K:HDJGHJ88:HHBDG:I=6C=DLL:=>G:	IG6>C	6C9G:I6>CIND;6AA:BEADN::H6C96G:8DBB>II:9IDB6>CI6>C>C<6LDG@:CK>GDCB:CIL=:G:6AA6HHD8>6I:H6G:K6AJ:9
6C9IG:6I:9L>I=G:HE:8I'JG6HHD8>6I:H6G:6II=:8DG:D;DJGE:G;DGB6C8:	7N9G>K>C<>CCDK6I>DC6C9B::I>C<I=:
C::9HD;DJGBDG:I=6CB>AA>DC8JHIDB:GHL=>A:EGDI:8I>C<6C9:C=6C8>C<JID&6I>DCZH7G6C96C9G:EJI6I>DC
+::X JB6C6E>I6A*:HDJG8:HY7:ADL;DGBDG:>C;DGB6I>DC67DJI=DLL:>CK:HI>CDJG6HHD8>6I:HID=:AEJH
EG:E6G:A:69:GHL>I=I=:K>H>DC	>CI:IN	6C9:ME:GI>H:I=6I:C=6C8:DJGDE:G6I>DC6A:M8:AA:C8::K:GN96N	9G>K:
HIDG:EGD;>I67>A>IN	6C98G:6I:7DI=EDH>I>K::BEADN::6C98JHIDB:G:ME:G>:C8:H
Q
+*0%*1!0+,.+2% !*%* 1/0.5(! %*#10+)+0%2!.!0%(1/0+)!.:M,!.%!*!%*+1./0+.!/* 0$.+1#$+1.
 %#%0($**!(/
/:H::@ID9:A>K:G68DCH>HI:CIANHJE:G>DG8JHIDB:G:ME:G>:C8:7ND;;:G>C<67GD69H:A:8I>DCD;>CK:CIDGN	
8JHIDB:G
;G>:C9AN	IG6CHE6G:CIH6A:H6C9H:GK>8:EGD8:HH:H	K:=>8A:;>C6C8>C<	6C98DBE:I>I>K:EG>8>C</:7:A>:K:
I=6II=>HL>AA7:C:;>IJH7N>C8G:6H>C<8JHIDB:GADN6AIN6C9L>AA:C8DJG6<:DJG8JHIDB:GHID7G>C<I=:>GK:=>8A:HID
DJGHIDG:H;DG6AAD;I=:>GK:=>8A:H:GK>8:	B6>CI:C6C8:	6C98DAA>H>DCG:E6>GC::9H6C96AHD7N9G>K>C<G:E:6I6C9
G:;:GG6AK:=>8A:H6A:H7JH>C:HH
/:8DCI>CJ:ID;D8JHDCEGDK>9>C<6H:6BA:HH	:C9
ID
:C98JHIDB:G:ME:G>:C8:>CDJGHIDG:H6C9I=GDJ<=DJG
9><>I6A8=6CC:AH	6C9>BEGDK>C<DJG67>A>INID<:C:G6I:7JH>C:HHI=GDJ<=I=DH:8=6CC:AH/:D;;:G6C>CI:A>C<HDAJI>DCI=6IEGDK>9:H8JHIDB:GHL>I=6H:6BA:HH6C9>CIJ>I>K:DBC>8=6CC:AK:=>8A:H=DEE>C<6C9
EJG8=6H::ME:G>:C8:/:8DCI>CJ:ID7J>A9DBC>8=6CC:A9><>I6A86E67>A>I>:HI=6IEGDK>9:6E:GHDC6A>O:99><>I6A
8JHIDB:G:ME:G>:C8:DCA>C:6C9>C
HIDG:'JG8JHIDB:GH6G:67A:ID8DBEA:I:@:N6JIDBDI>K:G:I6>A
6C9H:GK>8:
G:A6I:9IG6CH68I>DCHDCA>C:I=GDJ<=DJG9><>I6A8=6CC:AHHJ8=6HH:A:8I>C<6K:=>8A:L>I=68:	
H8=:9JA>C<6I:HI9G>K:	86A8JA6I>C<E6NB:CIDEI>DCH	G:8:>K>C<68:GI>;>:9IG69:
>CDGEJG8=6H:D;;:G;DG6K:=>8A:
I=6I68JHIDB:GL6CIHIDH:AA	6EEAN>C<;DG;>C6C8>C<	H:A:8I>C<K:=>8A:EGDI:8I>DCEGD9J8IH	H8=:9JA>C<>C
HIDG:
E>8@
JEDG=DB:9:A>K:GN	6GG6C<>C<H:GK>8:6EED>CIB:CIH	G:8:>K>C<H:GK>8:JE96I:H	E6N>C<;DGB6>CI:C6C8:6C9


G:E6>GH:GK>8:H	6C9H>C<E6E:GLDG@:A:8IGDC>86AAN/:6AHDJI>A>O:EGDEG>:I6GNIDDAHI=6IA:K:G6<:G:6A
I>B:
8JHIDB:G96I6ID9:6C9E:GHDC6A>O:I=:8JHIDB:G:ME:G>:C8:
7
+*0%*1!0+%*2!/0%*0$!
10+0%+*.!0%(.* 0+!*$*!+1./0.+*#1/0+)!./0%/"0%+** !4,* +1.
).'!0/$.!
JID&6I>DC>H67G6C9I=6I8DCC:8IHE:DEA:6C9EA68:H/:8DCI>CJ:ID>CK:HI>CI=:JID&6I>DCG:I6>A7G6C9	
EGDBDI>C<E:GHDC6AIG6CHEDGI6I>DC;DGB:G>86ZH9G>K:GH	A:69>C<I=:8=6G<:IDB6@:IG6CH;DGB6I>DC6A8=6C<:>C
I=:6JIDBDI>K:>C9JHIGN	6C99G>K>C<DJI86C8:G8D6HIID8D6HI/:6G:8DBB>II:9ID9:A>K:G>C<:6HN	IG6CHE6G:CI	
6C98JHIDB:G
8:CIG>8H:GK>8:H;DGDJG8JHIDB:GHZE:GHDC6AIG6CHEDGI6I>DCC::9H
,=:JID&6I>DCG:I6>A7G6C9>C8AJ9:HDJGJID&6I>DC-+JH:9K:=>8A:HIDG:H	6HL:AA6HJID&6I>DC>C6C8:	
DJG86EI>K:6JID;>C6C8:8DBE6CN/::ME:8IID8DCI>CJ:ID:ME6C9I=:JID&6I>DC>C6C8:AD6CEDGI;DA>D6HL:
>C8G:6H:;>C6C8:E:C:IG6I>DCG6I:H6IDJGHIDG:H!C699>I>DC	L:D;;:GJID&6I>DC
7G6C9:9JHIDB:G>C6C8>6A
+:GK>8:HEGD9J8IH>C8AJ9>C<:MI:C9:9H:GK>8:6C9B6>CI:C6C8:8DCIG68IH6C9DI=:GK:=>8A:EGDI:8I>DCEGD9J8IH
6C9E6GIH6C9688:HHDG>:H	6HL:AA6H8DAA>H>DCG:E6>GH:GK>8:H6IJID&6I>DC
7G6C9:98DAA>H>DC8:CI:GH	BD7>A:
6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:HI=GDJ<=JID&6I>DC%D7>A:+:GK>8:H	6C96J8I>DCH:GK>8:H6I
JID&6I>DC
7G6C9:96JIDBDI>K:6J8I>DCH/:6AHDD;;:GDJG'C:(G>8:JH:9K:=>8A:8:CIG6A>O:9EG>8>C<6C9
6EEG6>H6AHIG6I:8=8JHIDB:GHG:8:>K:6C
D;;:G=DCDG:9;DG96NHDG

B>A:H6I6CND;DJGAD86I>DCH
7
!2!.#!+1./%#*%"%*0/(!* +/0/0.101.!0+%),.+2!+1.+,!.0%*#!""%%!*5
HDC:D;I=:A6G<:HI6JIDBDI>K:G:I6>A:GH>CI=:-C>I:9+I6I:H	L:6G:JC>FJ:ANEDH>I>DC:9IDA:K:G6<:DJG
H>;>86CIH86A:HDI=6IL:6G:67A:ID68=>:K:8DBE:I>I>K:DE:G6I>C<B6G<>CH7N8:CIG6A>O>C<6C9HIG:6BA>C>C<
K6G>DJH7JH>C:HHEGD8:HH:H/:HIG>K:IDB6C6<:DJGC:L6C9JH:9K:=>8A:>CK:CIDG>:HHDI=6IDJGHIDG:HZHJEEAN
6C9B>MD;K:=>8A:H6G:>CA>C:L>I=H:6HDC6AH6A:HIG:C9H6C96AHDB>C>B>O:DJG86GGN>C<8DHIH/:6G:67A:ID
H:A;
HDJG8:6H>;>86CIEDGI>DCD;DJGJH:9K:=>8A:>CK:CIDGNI=GDJ<=DJGX/:ZAAJN1DJG6GYEGD8@ANB6@:6K6>A67A:HJ8=JH:9K:=>8A:HI=GDJ<=DEI>B>O6I>DCD;DJGG:8DC9>I>DC>C<86E67>A>I>:H6IDJGE6GIH6C9
H:GK>8:9:E6GIB:CIH99>I>DC6AAN	L:6G:67A:ID>BEGDK:;>C6C8>6A8DCIGDAH6C9ADL:GH:GK>8>C<8DHIH7N
B6>CI6>C>C<B6CN@:NHIDG:
A:K:A688DJCI>C<6C969B>C>HIG6I>K:68I>K>I>:H>CDJGH=6G:9H:GK>8:8:CI:GAD86I:9>C
!GK>C<	,:M6H/:6AHDA:K:G6<:DJG9><>I6A86E67>A>I>:HID9G>K:8DHIG:9J8I>DCH6C9>C8G:6H:9:;;>8>:C8N;DGI=:
ADC<
I:GBHJ88:HHD;DJG7JH>C:HH>C6AAN	L:A:K:G6<:DJGH86A:IDG:9J8:8DHIHG:A6I:9IDEJG8=6H>C<8:GI6>C
:FJ>EB:CI	HJEEA>:H	6C9H:GK>8:HI=GDJ<=C6I>DC6AK:C9DGG:A6I>DCH=>EH
'JG7JH>C:HH7:C:;>IH;GDB6L:AA
9>K:GH>;>:9EDGI;DA>DD;6JIDBDI>K:G:I6>A;G6C8=>H:H!C
	6EEGDM>B6I:AND;
IDI6AG:K:CJ:L6H<:C:G6I:97N(G:B>JB$JMJGN;G6C8=>H:H	6EEGDM>B6I:AN
7N!BEDGI;G6C8=>H:H	6C96EEGDM>B6I:AN
7NDB:HI>8;G6C8=>H:H/:7:A>:K:I=6IDJG7JH>C:HH6AHD7:C:;>IH;GDB9>K:GH:G:K:CJ:HIG:6BH<:C:G6I:97NDJG
C:L6C9JH:9K:=>8A:H6A:H	E6GIH6C9H:GK>8:7JH>C:HH	6C9;>C6C8:6C9>CHJG6C8:H6A:H'JG=><=:G
B6G<>CE6GIH6C9
H:GK>8:7JH>C:HH=6H=>HIDG>86AAN7::CA:HHH:CH>I>K:IDB68GD:8DCDB>88DC9>I>DCH6H8DBE6G:9IDC:L6C9JH:9K:=>8A:
H6A:H!C699>I>DC	L:=6K:7::C67A:ID6II6>C>C9JHIGN
A:69>C<;>C6C8:6C9>CHJG6C8:IE:GK:=>8A:G:I6>A:96HL:
=6K:B6>CI6>C:96HIGDC<EGD9J8IE:C:IG6I>DCD;EGD9J8IHHDA9E:GK:=>8A:
'JG86E>I6A6AAD86I>DCHIG6I:H;D8JH:9DCC<ADC<
I:GBK6AJ:E:GH=6G:/:>CK:HI86E>I6A>CDJG7JH>C:HHID
B6>CI6>C6C9JEHI>C<;68>A>I>:H6C9ID7J>A9C:L;68>A>I>:H;DG:M>HI>C<;G6C8=>H:H6C9C:LJID&6I>DC-+
JH:9K:=>8A:HIDG:H	6HL:AA6H;DGDI=:GHIG6I:<>86C9I:8=CDADC>I>6I>K:H/:6AHD9:EADN86E>I6ADEEDGIJC>HI>86AANID
8DBEA:I:68FJ>H>I>DCHDG>CK:HIB:CIH	7J>A9;68>A>I>:H;DGC:LAN6L6G9:9;G6C8=>H:H	6C9DGG:EJG8=6H:DJG8DBBDCHID8@
6C9DG9:7I'JG86E>I6A6AAD86I>DC9:8>H>DCH6G:76H:9DC;68IDGHHJ8=6HI=::ME:8I:9G6I:D;G:IJGCDCDJG>CK:HIB:CI	I=:
B6G@:IEG>8:D;DJG8DBBDCHID8@K:GHJHDJGK>:LD;>IH>CIG>CH>8K6AJ:	I=:B6G@:IEG>8:D;DJG9:7I	I=:EDI:CI>6A>BE68I
DCDJG86E>I6AHIGJ8IJG:	DJG67>A>INID8DBEA:I:68FJ>H>I>DCHI=6IB::IDJGHIG6I:<>8D7?:8I>K:H	B6G@:I6C9K:=>8A:7G6C9
8G>I:G>6	6C9DGG:IJGCDC>CK:HIB:CII=G:H=DA9	6C9A>B>I6I>DCHH:I;DGI=>CDJG9:7I6I>DC6A>C;DGB6I>DC
G:<6G9>C<DJG86E>I6A6AAD86I>DC	G:;:GIDX$>FJ>9>IN6C96E>I6A*:HDJG8:HV6E>I6AAAD86I>DCY>C(6GI!!	!I:BD;I=>H
DGB
#


#=3?/A7<;@
68=D;DJG;G6C8=>H:99:6A:GH=>EH68FJ>G:HC:LK:=>8A:H;DGG:I6>AH6A::>I=:G9>G:8IAN;GDBI=:6EEA>867A:6JIDBDI>K:
B6CJ;68IJG:GDG9>HIG>7JIDGDGI=GDJ<=9:6A:GIG69:HL>I=DI=:GHIDG:HD;I=:H6B:7G6C9;G6C8=>H:/:<:C:G6AAN68FJ>G:
JH:9K:=>8A:H;GDB8JHIDB:GH	EG>B6G>ANI=GDJ<=IG69:
>CH6C9DJGX/:ZAAJN1DJG6GYEGDDCH	A:6H:I:GB>C6I>DCH	6C9DI=:GHDJG8:H	6C9L:<:C:G6AANG:8DC9>I>DCJH:9K:=>8A:H68FJ>G:9;DGG:I6>AH6A:>CDJG
E6GIH6C9H:GK>8:9:E6GIB:CIH-H:9K:=>8A:HI=6IL:9DCDIH:AA6IDJGHIDG:H<:C:G6AAN6G:HDA96IL=DA:H6A:EG>8:HI=GDJ<=
6J8I>DCH+::6AHDX!CK:CIDGN%6C6<:B:CIY>C(6GI!!	!I:BD;I=>HDGB
#
'JGHIDG:HEGDK>9:6L>9:G6C<:D;K:=>8A:B6>CI:C6C8:	G:E6>G	6C98DAA>H>DCG:E6>GH:GK>8:H	>C8AJ9>C<B6CJ;68IJG:G
G:86AAG:E6>GH6C9DI=:GL6GG6CINLDG@I=6I86C7:E:G;DGB:9DCAN6I;G6C8=>H:99:6A:GH=>EH6C98JHIDB:G
E6NH:GK>8:LDG@
'JGE6GIH6C9H:GK>8:9:E6GIB:CIH6AHDG:8DC9>I>DCJH:9K:=>8A:H68FJ>G:97NDJGJH:9K:=>8A:9:E6GIB:CIH6C9E:G;DGB
EG:E6G6IDGNLDG@6C9688:HHDGN>CHI6AA6I>DCDCC:LK:=>8A:H68FJ>G:97NDJGC:LK:=>8A:9:E6GIB:CIH/:6AHDD;;:G
EGD9J8I6C9688:HHDGNA>C:HI=6I6G:>CI:CIDDJGE6GIH6C9H:GK>8:DE:G6I>DCHJID&6I>DC(6GIH8DB	DJG:
8DBB:G8:
L:7H>I:	:C67A:H8JHIDB:GHIDEJG8=6H:=><=
FJ6A>IN6JIDBDI>K:E6GIH6C9688:HHDG>:H6I8DBE:I>I>K:EG>8:H	H=>EE:9
9>G:8IANIDI=:>G=DB:H!C699>I>DCIDDJGG:I6>A7JH>C:HH	L:6AHD=6K:L=DA:H6A:E6GIHDE:G6I>DCH	L=>8=H:AA6JIDBDI>K:
E6GIHID7DI=8DAA>H>DCG:E6>GH=DEH6C9>C9:E:C9:CIK:=>8A:G:E6>GEGDK>9:GH
/:D;;:G6L>9:K6G>:IND;6JIDBDI>K:;>C6C8:6C9>CHJG6C8:EGD9J8IHIDDJG8JHIDB:GH/:EG>B6G>AN6GG6C<:;DGDJG
8JHIDB:GHID;>C6C8:K:=>8A:HI=GDJ<=>CHI6AAB:CIAD6CHDGA:6H:HL>I=I=>G9
E6GINA:C9:GH	>C8AJ9>C<I=:K:=>8A:
B6CJ;68IJG:GHZ6C99>HIG>7JIDGHZ86EI>K:;>C6C8:HJ7H>9>6G>:H	6C9G:8:>K:68DBB>HH>DCE6N67A:IDJH;GDBI=:A:C9:G'JG
:MEDHJG:IDADHH>C8DCC:8I>DCL>I=;>C6C8>C<6GG6C<:B:CIHL>I=I=>G9
E6GINA:C9:GH<:C:G6AAN>HA>B>I:9IDI=:8DBB>HH>DCH
I=6IL:G:8:>K:/:6AHDDG><>C6I:6C9H:GK>8:8DCHJB:G6JID;>C6C8:AD6CHI=GDJ<=DJG86EI>K:6JID;>C6C8:8DBE6CN+::
I=:G>H@;68IDGX!.!/1&!00+2.%+1/.%/'///+%0! 3%0$+.%#%*0%*#* /!.2%%*#10+"%**!(+*/0$.+1#$
%* %.!0(!* %*#0+1/0+)!./*5+"3$%$+1( $2!* 2!./!!""!0+*+1.1/%*!//Y>C(6GI!	!I:BD;I=>HDGB

#;DG699>I>DC6A>C;DGB6I>DC
/:6AHDD;;:GDJG8JHIDB:GHK6G>DJHK:=>8A:EGDI:8I>DCEGD9J8IH	>C8AJ9>C<:MI:C9:9H:GK>8:8DCIG68IH	B6>CI:C6C8:
EGDDC@CDLC6HX(	YI=>HEGDI:8I>DC8DK:GHI=:H=DGI;6AA7:IL::C68JHIDB:GZHAD6C
76A6C8:6C9>CHJG6C8:E6ND;;>CI=::K:CID;686HJ6AIN	XI>G:6C9L=::AYEGDI:8I>DC	6C9I=:;IEGDI:8I>DCEGD9J8IH	HDB:D;
L=>8=6G:JID&6I>DC
7G6C9:9,=:H:EGD9J8IH6G:JC9:GLG>II:C6C969B>C>HI:G:97N>C9:E:C9:CII=>G9E6GI>:H	>C8AJ9>C<
I=:K:=>8A:B6CJ;68IJG:GHZ6C99>HIG>7JIDGHZ86EI>K:;>C6C8:HJ7H>9>6G>:H/:H:AAI=:EGD9J8IHDC68DBB>HH>DC76H>H	6C9
L:6AHDE6GI>8>E6I:>C;JIJG:JC9:GLG>I>C<EGD;>I;DG8:GI6>CEGD9J8IHEJGHJ6CIIDG:IGDHE:8I>K:8DBB>HH>DC6GG6C<:B:CIH
L>I=I=:>HHJ:GHD;I=DH:EGD9J8IH


HD;:8:B7:G	
	L:DE:G6I:9HIDG:H>CI=:;DAADL>C<HI6I:H
'A/A3
"B:03?<4
&3A/79'A96
 
 


6A>;DGC>6
 
 


,:M6H
 
 


DADG69D

 
 


G>ODC6
 
 


/6H=>C6
 

 


&:K696
 
 


%6GNA6C9
 
 


!AA>CD>H
 
 


,:CC:HH::
 
 


+DJI=6GDA>C6

 
 


&DGI=6GDA>C6
 
W 
W

'=>D

 


.>G<>C>6
 
 
W

A676B6
 
 
W

&:L%:M>8D
 
W 
W
W
&:L1DG@
 
 
W
W
%>HHDJG>
 
W 
W
W
&:L":GH:N
 
 
W
W
,DI6A









!C8AJ9:H;G6C8=>H:99:6A:GH=>EH6C9JID&6I>DC-+JH:9K:=>8A:HIDG:H

!C8AJ9:H8DAA>H>DC8:CI:GH	6JIDBDI>K:6J8I>DCDE:G6I>DCH	6C9E6GIH9>HIG>7JI>DC8:CI:GH

*:K:CJ:G:EG:H:CI:9A:HHI=6CD;IDI6AG:K:CJ:
5?33:3;A@D7A6*367193!/;B4/1AB?3?@
8'3+=581-8++3+4:9
/:=6K::CI:G:9>CID;G6B:LDG@6C9G:A6I:96I=BDHIB6?DGK:=>8A:B6CJ;68IJG:GH6C99>HIG>7JIDGH,=:H:
68=6G:>C699>I>DCIDI=:;G6C8=>H:67:97:ADL	8DCI6>CEGDK>H>DCHG:A6I>C<IDDJG
B6C6<:B:CI	DE:G6I>DC	69K:GI>H>C<6C9B6G@:I>C<	6C968FJ>H>I>DC6C9DLC:GH=>EHIGJ8IJG:D;6JIDBDI>K:HIDG:H
;G6C8=>H:97NHJ8=B6CJ;68IJG:GH,=:H:6C8:GI6>CG:FJ>G:B:CIHE:GI6>C>C<IDDJGDE:G6I>C<E:G;DGB6C8:
L>I=G:HE:8IIDB6II:GHHJ8=6HH6A:HKDAJB:	H6A:H:;;:8I>K:C:HH	6C98JHIDB:GH6I>H;68I>DCDGADN6AIN	L=>8=	>;L:9DCDI
H6I>H;N	69K:GH:AN>BE68IDJG67>A>INIDB6@:;JGI=:G68FJ>H>I>DCHD;HJ8=B6CJ;68IJG:GHZHIDG:HDG8DJA9G:HJAI>CJH7:>C<
8DBE:AA:9IDI6@:8:GI6>C68I>DCH	HJ8=6H9>K:HI>C<6H>;>86CIANJC9:GE:G;DGB>C<HIDG:	HJ7?:8IID6EEA>867A:HI6I:
;G6C8=>H:A6LH99>I>DC6AAN	I=:H:6B>IHC6I>DC6AAN	G:<>DC6AAN	6C9>CAD86AB6G@:IHDCI=:CJB7:GD;
HIDG:HI=6IL:B6N68FJ>G:D;I=:E6GI>8JA6GB6CJ;68IJG:G6C98DCI6>C8:GI6>CG:HIG>8I>DCHDCDJG67>A>INIDC6B:6C97G6C9
DJGHIDG:H+DB:D;I=:H:;G6B:LDG@6K:I=:B6CJ;68IJG:GDG9>HIG>7JIDGI=:G><=IID68FJ>G:6I;6>GB6G@:I
K6AJ:	DGI=:G><=IID8DBE:AJHIDH:AA	I=:6JIDBDI>K:HIDG:H;G6C8=>H:97NI=6IB6CJ;68IJG:GDG9>HIG>7JIDGJC9:GHE:8>;>:9
8>G8JBHI6C8:H>CI=::K:CID;68=6C<:>C8DCIGDAD;DJGDBE6CN<:C:G6AAN>C8AJ9>C<8:GI6>CB6I:G>6A8=6C<:H>CI=:
8DBEDH>I>DCD;DJGD6G9D;>G:8IDGH9JG>C<6HE:8>;>:9I>B:E:G>D9	I=:68FJ>H>I>DCD;
DGBDG:D;I=:KDI>C<HID8@D;
DJGDBE6CN7N6CDI=:GK:=>8A:B6CJ;68IJG:GDG9>HIG>7JIDG	DGI=:68FJ>H>I>DCD;
DGBDG:D;DJGKDI>C<HID8@7N6
E:GHDC	:CI>IN	DGA>6I:9L>I=6K:=>8A:B6CJ;68IJG:GDG9>HIG>7JIDGDGDI=:G:MIG6DG9>C6GN8DGEDG6I:
IG6CH68I>DCHHJ8=6H6B:G<:GDGH6A:D;6AADGHJ7HI6CI>6AAN6AAD;DJG6HH:IH!C699>I>DC	L:=6K:C
B6CJ;68IJG:GHI=:G><=IID68FJ>G:	6I;6>GB6G@:IK6AJ:	DJG6JIDBDI>K:9:6A:GH=>EH;G6C8=>H:97NHJ8=B6CJ;68IJG:GH>C
HE:8>;>:98>G8JBHI6C8:H>CI=::K:CID;DJG9:;6JAIJC9:G8:GI6>CD;DJG9:7I68A:HIDG:HJC9:G6;G6C8=>H:6I=6K:=>8A:B6CJ;68IJG:GDG9>HIG>7JIDG,=:
;G6C8=>H:6H:96JIDBDI>K:HIDG:6CDC
:M8AJH>K:G><=IIDH:AAI=:B6CJ;68IJG:GZHDG9>HIG>7JIDGZH
7G6C9D;K:=>8A:H6C9D;;:GG:A6I:9E6GIH6C9H:GK>8:L>I=>C6HE:8>;>:9B6G@:I6G:6,=:H:;G6C8=>H:6<=IIDJH:I=:G:A:K6CIB6CJ;68IJG:GZHDG9>HIG>7JIDGZHIG69:B6G@H>C8DCC:8I>DCL>I=I=:>GDE:G6I>DCH	6C9I=:N
6AHD>BEDH:CJB:GDJHDE:G6I>DC6AG:FJ>G:B:CIH6C9G:HIG>8I>DCHG:A6I>C<ID>CK:CIDGNA:K:AH	LDG@>C<86E>I6AA:K:AH	I=:
H6A:HEGD8:HH	B6G@:I>C<6C97G6C9>C<	H=DLGDDB6C9H:GK>8:;68>A>I>:H	H>CB6C6<:B:CI	6C9
BDCI=AN;>C6C8>6AG:EDGI>C<	6BDC<DI=:GI=>CH:69:;DG
K6G>DJH9JG6I>DCH	G6C<>C<;GDBDC:N:6GIDCD:ME>G6I>DC96I:	6C9>C8:GI6>C86H:HB6CJ;68IJG:GH=6K:JC9:GI6@:CID
G:C:LHJ8=;G6C8=>H:HJEDC:ME>G6I>DCHDADC<6HI=:HIDG:>H>C8DBEA>6C8:L>I=I=:I:GBHD;I=:6H:6K:;DGI=:;DG:H::67A:;JIJG:6C9	L=:CI=:6C9:;>C>I:
I:GBH	6CI>8>E6I:GDJI>C:G:C:L6AHD;I=:6I=DJIHJ7HI6CI>6A8DHIDGBD9>;>86I>DC'JGHIDG:HZ;G6C8=>H:
69:;DGI:GB>C6I>DCD;I=:6:IND;86JH:H>C8AJ9>C<
E:G;DGB6C8:9:;>8>:C8>:H>CHJ8=6G:6H6HH6A:HKDAJB:	H6A:H:;;:8I>K:C:HH	6C98JHIDB:GH6I>H;68I>DCDGADN6AIN DL:K:G	
>C<:C:G6A	I=:HI6I:H>CL=>8=L:DE:G6I:=6K:6JIDBDI>K:9:6A:GH=>E;G6C8=>H:A6LHI=6IEGDK>9:I=6I	CDIL>I=HI6C9>C<I=:
I:GBHD;6CN;G6C8=>H:6I>HJCA6L;JA;DG6B6CJ;68IJG:GIDI:GB>C6I:DGCDIG:C:L6;G6C8=>H:JCA:HHXHIH!I<:C:G6AAN>H9>;;>8JAI	DJIH>9:D;76C@GJEI8N	;DG6B6CJ;68IJG:GIDI:GB>C6I:	DGCDIG:C:L	6;G6C8=>H:
JC9:GI=:H:A6LH	L=>8=L:G:9:H>I>DC	>CDJG:ME:G>:C8:6C9=>HIDG>86AAN>CI=:6JIDBDI>K:
G:I6>A>C9JHIGN	9:6A:GH=>E;G6C8=>H:6CKDAJCI6G>ANI:GB>C6I:9DGCDIG:C:L:97NI=:B6CJ;68IJG:G
DJIH>9:D;76C@GJEI8NGDBI>B:IDI>B:	8:GI6>CB6CJ;68IJG:GH6HH:GIH6A:H6C98JHIDB:GH6I>H;68I>DCE:G;DGB6C8:
9:;>8>:C8>:HJC9:GI=:I:GBHD;DJG;G6B:LDG@6C9;G6C8=>H:6I=I=:H:B6CJ;68IJG:GHID
699G:HHI=:6HH:GI:9E:G;DGB6C8:>HHJ:HDG699>I>DC6A>C;DGB6I>DC	EA:6H:G:;:GIDI=:G>H@;68IDG86EI>DC:9:!.!
/1&!00+.!/0.%0%+*/%),+/! 5* /%#*%"%*0%*"(1!*!".+)2!$%(!)*1"01.!./0$0)5 2!./!(5%),0+1.
1/%*!//"%**%(+* %0%+*.!/1(0/+"+,!.0%+*//$"(+3/* ,.+/,!0/%*(1 %*#+1.%(%050+-1%.!  %0%+*(
/0+.!/;>C(6GI!	!I:BD;I=>HDGB
#
&35B9/A7<;@
/:DE:G6I:>C6=><=ANG:C9JHIGNCJB7:GD;HI6I:6C9;:9:G6AA6LH6C9G:DCH6;;:8IDJG7JH>C:HH!C
:K:GNHI6I:>CL=>8=L:DE:G6I:	L:BJHID7I6>CK6G>DJHA>8:CH:H>CDG9:GIDDE:G6I:DJG7JH>C:HH:H	>C8AJ9>C<9:6A:G	H6A:H
6C9;>C6C8:	6C9>CHJG6C8:A>8:CH:H>HHJ:97NHI6I:G:I>:H&JB:GDJHA6LH6C9G:DCHC:HH	>C8AJ9>C<I=DH:G:A6I>C<IDDJGH6A:H	DE:G6I>DCH	;>C6C8:6C9>CHJG6C8:	69K:GI>H>C<	>C9>G:8I6JID
;>C6C8>C<	DG><>C6I>DC6C9H:GK>8>C<D;8DCHJB:G6JID;>C6C8:AD6CH	6C9:BEADNB:CIEG68I>8:H,=:H:A6LH6C9G:DCH
>C8AJ9:HI6I:;G6C8=>H:A6LH6C9G:DCH	;:9:G6A6C9HI6I:8DCHJB:GEGDI:8I>DCA6LH6C9G:DCH	EG>K68NA6LH	
:H8=:6IB:CIA6LH	6CI>
BDC:NA6JC9:G>C<A6LH	6C9DI=:G:MI:CH>K:A6LH6C9G:DCH6EEA>867A:IDC:L6C9JH:9BDIDG
K:=>8A:9:6A:GH6C96JID;>C6C8:8DBE6C>:H	6HL:AA6H6K6G>:IND;DI=:GA6LH6C9G:DCH,=:H:A6LH6AHD>C8AJ9:
;:9:G6A6C9HI6I:L6<:6C9=DJG	6CI>
9>H8G>B>C6I>DC	6C9DI=:G:BEADNB:CIEG68I>8:HA6LH+::I=:G>H@;68IDGX1.
+,!.0%+*/.!/1&!00+!40!*/%2!#+2!.*)!*0((3/* .!#1(0%+*/"3!.!"+1* 0+!%*,1.,+.0! 2%+(0%+*+"+.
/1&!00+(%%(%0%!/1* !.*5+"0$!/!(3/+..!#1(0%+*/+.%"*!3(3/+..!#1(0%+*/.!!*0! 0$0 2!./!(5""!0
+1.+,!.0%+*/+1.1/%*!//+,!.0%*#.!/1(0/* ,.+/,!0/+1( /1""!.Y>C(6GI!	!I:BD;I=>HDGB
#
;:535:/<+'4*:.+8'=9'4*+-;2':/549
'JGDE:G6I>DCH6G:HJ7?:8IIDI=:&6I>DC6A,G6;;>86C9%DIDG.:=>8A:+6;:IN8I	:9:G6A%DIDG.:=>8A:+6;:IN
+I6C96G9HEGDBJA<6I:97NI=:-C>I:9+I6I:H:E6GIB:CID;,G6CHEDGI6I>DC	6C9I=:GJA:H6C9G:DCHD;K6G>DJHHI6I:
BDIDGK:=>8A:G::H!C699>I>DC	6JIDBDI>K:9:6A:GH6G:HJ7?:8IIDG:DC7NI=::9:G6A,G69:
DBB>HH>DCI=:X,Y,=:>BEDGI:96JIDBD7>A:H	E6GIH	6C9688:HHDG>:HL:EJG8=6H:6G:HJ7?:8IID-C>I:9+I6I:H
8JHIDBH9JI>:H6C9	>CI=:DG9>C6GN8DJGH:D;DJG7JH>C:HHL:B6N	;GDBI>B:IDI>B:	7:HJ7?:8IID8A6>BH;DG9JI>:H	
E:C6AI>:H	A>FJ>96I:996B6<:H	DGDI=:G8=6G<:HJGI=:G	DJG86EI>K:6JID;>C6C8:8DBE6CNDE:G6I>DCH6G:HJ7?:8IID
G:DCH6C9HJE:GK>H>DC7NI=:DCHJB:G>C6C8>6A(GDI:8I>DCJG:6JI=:X(YBDC<DI=:GI=>CH
6JI=DG>O:9IDI6@:68I>DCIDEG:K:CI6JID;>C6C8:8DBE6C>:H;GDB:C<6<>C<>CJC;6>G	9:8:EI>K:	DG67JH>K:68IH6C9
EG68I>8:H6C9ID>HHJ:GJA:HG:FJ>G>C<:C=6C8:99>H8ADHJG:H8DC8:GC>C<8DCHJB:G;>C6C8>6AEGD9J8IH6C9H:GK>8:H!C
699>I>DC	HI6I:6IIDGC:NH<:C:G6A=6K:6JI=DG>INJC9:GI=:>GG:HE:8I>K:A6LH6C9G:DCH	6C9JC9:GI=:D99
G6C@/6AA
+IG::I*:;DGB6C9DCHJB:G(GDI:8I>DC8II=:XD99
G6C@8IY	:C68I:9>C

	ID>CK:HI><6I:6C9DGG:C
6HE:8IHD;DJGDE:G6I>DCH


'JG;>C6C8>C<68I>K>I>:HL>I=8JHIDB:GH	>C8AJ9>C<DJGDG><>C6I>DC6C9H:GK>8>C<68I>K>I>:HI=GDJ<=DJG86EI>K:6JID
;>C6C8:8DBE6CN	6G:HJ7?:8IIDI=:;:9:G6A,GJI=
>C
$:C9>C<8I	DCHJB:G$:6H>C<8I	FJ6AG:9>I'EEDGIJC>IN8I	
6>GG:9>I*:EDGI>C<8I	;:9:G6A6C9HI6I:EGD=>7>I>DCH6<6>CHIJC;6>G	9:8:EI>K:	6C967JH>K:68IH6C9EG68I>8:H	6C9
K6G>DJHDI=:G;:9:G6AA6LH6C9G:DCH	6HL:AA6HHI6I:6C9AD86ABDIDGK:=>8A:;>C6C8:A6LH	A:6H>C<A6LH	8DAA:8I>DC	
G:EDHH:HH>DC	6C9>CHI6AAB:CI;>C6C8:A6LH	JHJGNA6LH	6C9DI=:G>CHI6AAB:CIH6A:H6C9A:6H>C<A6LH6C9G:DCH
BDC<DI=:GI=>CDCHG:C6C8:6C9DI=:G;::H6C98=6G<:HI=6IB6N7:>BEDH:9DG
G:8:>K:9>C8DCC:8I>DCL>I=BDIDGK:=>8A:G:I6>A>CHI6AAB:CIH6A:H6C9A:6H>C<	G:FJ>G:HE:8>;>89>H8ADHJG:HID8DCHJB:GH	
9:;>C:I=:G><=IHID8DAA:8IE6NB:CIH6C9G:EDHH:HH6C9H:AA8DAA6I:G6A	6C9AA6GNEGD9J8IH
A6>BH6G>H>C<DJID;68IJ6ADG6AA:<:9K>DA6I>DCHD;A6LDGG:DCB6N7:6HH:GI:96<6>CHIJH7N>C9>K>9J6AH	68A6HHD;
>C9>K>9J6AH	DGI>:H6C9B6N:MEDH:JHIDH>;>86CI96B6<:HDGDI=:GE:C6AI>:H	>C8AJ9>C<;>C:H6C9
G:KD86I>DCDGHJHE:CH>DCD;DJGA>8:CH:HID8DC9J8IDJGDE:G6I>DCH+::I=:G>H@;68IDGX1.+,!.0%+*/.!/1&!00+
!40!*/%2!#+2!.*)!*0((3/* .!#1(0%+*/"3!.!"+1* 0+!%*,1.,+.0! 2%+(0%+*+"+./1&!00+(%%(%0%!/1* !.
*5+"0$!/!(3/+..!#1(0%+*/+.%"*!3(3/+..!#1(0%+*/.!!*0! 0$0 2!./!(5""!0+1.+,!.0%+*/+1.
1/%*!//+,!.0%*#.!/1(0/* ,.+/,!0/+1( /1""!.Y>C(6GI!	!I:BD;I=>HDGB
#;DG699>I>DC6A>C;DGB6I>DC
4DCH>CKDAK:I=:JH:	=6C9A>C<	HIDG6<:	6C98DCIG68I>C<;DGG:8N8A>C<6C9DG9>HEDH6AD;B6I:G>6AHHJ8=6H
BDIDGD>A6C9;>AI:GH	IG6CHB>HH>DC;AJ>9H	6CI>;G::O:	G:;G><:G6CIH	E6>CIH	I=>CC:GH	76II:G>:H	8A:6C>C<EGD9J8IH	AJ7G>86CIH	
9:C<6<:CIH	I>G:H	6C9;J:ADCH:FJ:CIAN	DJG7JH>C:HH>HHJ7?:8IID68DBEA:MK6G>:IND;;:9:G6A	HI6I:	6C9AD86A
G:FJ>G:B:CIHI=6IG:GDCB:CI6C9EJ7A>8=:6AI=6C9H6;:IN
%DHID;DJGHIDG:HJI>A>O:67DK:B6G>AN;DG
E:IGDA:JB
76H:9EGD9J8IH+IDG6<:I6C@H6G:HJ7?:8IIDE:G>D9>8I:HI>C<	8DCI6>CB:CI	JEC<	6C9G:BDK6AJC9:GI=:
*:HDJG8:DCH:GK6I>DC6C9*:8DK:GN8I6C9>IHHI6I:A6L8DJCI:GE6GIHA:6C
JEDGDI=:GG:B:9>6A68I>DCB6N7:
C:8:HH6GN>CI=::K:CID;A:6@HDGDI=:G9>H8=6G<:H;GDBHIDG6<:I6C@HDGDI=:GHDJG8:H!C699>I>DC	L6I:GFJ6A>INEGDI:8I>DC
EGDDCDCIGDA8I8DBBDCAN@CDLC6HI=:A:6C/6I:G8I	I=:+6;:G>C@>C<
/6I:G8I	6C98DBE6G67A:HI6I:6C9AD86AEGDC9>H8=6G<:H;GDBHDB:D;DJGDE:G6I>DCH+>B>A6GAN	
8:GI6>C6>G:B>HH>DCH;GDBDE:G6I>DCH	HJ8=6H6JID7D9NE6>CI>C<	B6N7:HJ7?:8IIDI=:;:9:G6AA:6C>G8I6C9G:A6I:9
HI6I:6C9AD86AA6LH:GI6>C=:6AI=6C9H6;:INHI6C96G9HEGDBJA<6I:97NI=:'88JE6I>DC6A+6;:IN6C9 :6AI=
9B>C>HIG6I>DCD;I=:-C>I:9+I6I:H:E6GIB:CID;$67DG6C9G:A6I:9HI6I:6<:C8>:H6AHD6EEAN
+DB:D;DJGHIDG:H6G:E6GI>:HIDEGD8::9>CK:CK>GDCB:CI6A*:HEDCH:	DBE:CH6I>DC	6C9
$>67>A>IN8I	DG*$	INE>86AAN>C8DCC:8I>DCL>I=B6I:G>6AHI=6IL:G:H:CIID;DGB:GG:8N8A>C<	IG:6IB:CI	6C9DG
9>HEDH6A;68>A>I>:HDLC:96C9DE:G6I:97N>C9:E:C9:CI7JH>C:HH:H,=:G:B:9>6I>DCDG8A:6C
JED;;68>A>I>:HL=:G:I=:
G:A:6H:D;6G:HG:FJ>G:9JC9:G*$6C9DI=:GA6LH
/:=6K:6EGD68I>K:HIG6I:GDCB:CI6A	=:6AI=	6C9H6;:INA6LH6C9G:DCH	L=>8=>C8AJ9:H
8DCIG68I>C<L>I=I=>G9
E6GINK:C9DGHID>CHE:8IDJG;68>A>I>:HGDJI>C:AN>C6C:;;DGIID:CHJG:8DBEA>6C8:/:>C8JG
H>;>86CI8DHIHID8DBEANL>I=6EEA>867A::CK>GDCB:CI6A	=:6AI=	6C9H6;:INA6LH6C9G:DCH>CI=:DG9>C6GN8DJGH:D;
DJG7JH>C:HH/:9DCDI6CI>8>E6I:	=DL:K:G	I=6II=:8DHIHD;HJ8=8DBEA>6C8:L>AA=6K:6B6I:G>6A69K:GH::;;:8IDCDJG
7JH>C:HH	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	DG;>C6C8>6A8DC9>I>DC	6AI=DJ<=HJ8=DJI8DB:>HEDHH>7A:<>K:CI=:C6IJG:D;DJG
DE:G6I>DCH6C9I=::MI:CH>K::CK>GDCB:CI6A	=:6AI=	6C9H6;:ING:6A@CDLC
:CK>GDCB:CI6A8DBB>IB:CIHDG8DCI>C<:C8>:H
!/?83A@/;2<:=3A7A7<;
/:DE:G6I:>C6=><=AN8DBE:I>I>K:>C9JHIGN/:7:A>:K:I=6II=:EG>C8>E6A8DBE:I>I>K:;68IDGH>CI=:6JIDBDI>K:G:I6>A
7JH>C:HH6G:AD86I>DC	H:GK>8:	EG>8:	H:A:8I>DC	6C9DCA>C:6C9BD7>A:D;;:G>CC8AJ9:H6A6G<:
CJB7:GD;L:AA
86E>I6A>O:98DBE:I>IDGHI=6I=6K::MI:CH>K:6JIDBDI>K:G:I6>AB6C6<:G>6A:ME:G>:C8:6C9HIGDC<G:I6>A
AD86I>DCH6C9;68>A>I>:H
&:LK:=>8A:JC>IKDAJB:>C
7:C:;>I:9;GDB>C8G:6H:H>CC:LK:=>8A:>CK:CIDGNA:K:AH9J:ID=><=:GA:K:AHD;
B6CJ;68IJG:GK:=>8A:EGD9J8I>DC,=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN=6HG:HJAI:9>C6H=>;I>C
B>M;GDBJH:9K:=>8A:HIDC:LK:=>8A:H$DL:GC:LK:=>8A:H6A:H>CG:8:CIN:6GH=6H6AHDG:HJAI:9>CADL:G6K6>A67>A>IND;
JH:9K:=>8A:>CK:CIDGN	E6GI>8JA6GAN;DGA6I:BD9:AJH:9K:=>8A:H88DG9>C<ID>C9JHIGNHDJG8:H	6HD;:8:B7:G	
	


I=:G:L:G:6EEGDM>B6I:AN	


;G6C8=>H:96JIDBDI>K:9:6A:GH=>EH	L=>8=H:AA7DI=C:L6C9JH:9K:=>8A:H	>CI=:-C>I:9
+I6I:H!C699>I>DC	L::HI>B6I:I=6II=:G:L:G:6EEGDM>B6I:ANIL>8:6HB6CN>C9:E:C9:CIJH:9K:=>8A:9:6A:GH>CI=:
-C>I:9+I6I:H/:8DCI>CJ:ID:ME6C9DJG;DDIEG>CI6C9>C8G:6H:H8DE:6C9H86A:I=GDJ<=7DI=I=:68FJ>H>I>DCD;C:L
9:6A:GH=>EH6C9;G6C8=>H:H6C9I=GDJ<=I=::ME6CH>DCD;DJGJID&6I>DC-+JH:9K:=>8A:HIDG:H/:;68:8DBE:I>I>DC
;GDB>H:K:G6AEJ7A>88DBE6C>:HI=6IDE:G6I:CJB:GDJH6JIDBDI>K:G:I6>AHIDG:HDG8DAA>H>DC8:CI:GHDC6G:<>DC6ADG
C6I>DC6A76H>H	>C8AJ9>C<;G6C8=>H:99:6A:GHI=6IH:AAC:L6C9JH:9K:=>8A:H	CDC
;G6C8=>H:99:6A:GHI=6IH:AADCANJH:9
K:=>8A:H	6C9B6CJ;68IJG:GHI=6IH:AA9>G:8IANID8JHIDB:GH	>>EG>K6I:8DBE6C>:HI=6IDE:G6I:6JIDBDI>K:G:I6>AHIDG:HDG
8DAA>H>DC8:CI:GH>CDJGB6G@:IH	>>>:A:8IG>8K:=>8A:B6CJ;68IJG:GHL=DH:AA9>G:8IANID8DCHJB:GH	6C9>KDCA>C:6C9
BD7>A:H6A:H6C9H:GK>8:EA6I;DGBH/:8DBE:I:L>I=9:6A:GHI=6IH:AAI=:H6B:K:=>8A:7G6C9HI=6IL:H:AA	6HL:AA6H
9:6A:GH6C98:GI6>CB6CJ;68IJG:GHI=6IH:AADI=:GK:=>8A:7G6C9HI=6IL:9DCDIG:EG:H:CI>C6E6GI>8JA6GB6G@:I'JGC:L
K:=>8A:HIDG:8DBE:I>IDGH=6K:;G6C8=>H:6I=I=:K6G>DJHK:=>8A:B6CJ;68IJG:GH6C9	6HHJ8=	<:C:G6AAN=6K:
688:HHIDC:LK:=>8A:HDCI=:H6B:I:GBH6HL:=6K:/:6AHD8DBE:I:L>I=DI=:G9:6A:GH;DGFJ6A>;>:9:BEADN::H	
>C8AJ9>C<<:C:G6AB6C6<:GH6C9H6A:H6C9H:GK>8:E:GHDCC:A
!C<:C:G6A	I=:K:=>8A:B6CJ;68IJG:GH=6K:9:H>C<6C9H6A:H6G:6HL>I=>CL=>8=DCANDC:;G6C8=>H:9
9:6A:GD;6<>K:CK:=>8A:7G6C9B6NDE:G6I:-C9:GBDHI;G6B:LDG@6I=K:=>8A:B6CJ;68IJG:GH	I=:67>A>INID
68FJ>G:BJAI>EA:9:6A:GHD;6<>K:CK:=>8A:7G6C9L>I=>C6E6GI>8JA6GB6G@:I>HA>B>I:9:6A:GH6G:6AHDG:HIG>8I:97NK6G>DJH
HI6I:;G6C8=>H:A6LH;GDBG:AD86I>C<HIDG:HDG:HI67A>H=>C<C:LHIDG:HD;6E6GI>8JA6GK:=>8A:7G6C9L>I=>C6CN6G:6I=6I>H
H:GK:97N6CDI=:G9:6A:GD;I=:H6B:K:=>8A:7G6C9	6C9<:C:G6AANC::9I=:B6CJ;68IJG:GID6EEGDK:6CNG:AD86I>DCDGI=:
H: DL:K:G	IDI=::MI:CII=6I6B6G@:I=6HBJAI>EA:9:6A:GHD;6E6GI>8JA6GK:=>8A:7G6C9	6HBDHID;
DJG@:NB6G@:IH9DL>I=G:HE:8IIDBDHIK:=>8A:7G6C9HL:H:AA	L:;68:H>;>86CI>CIG6
7G6C98DBE:I>I>DC
/:6AHD8DBE:I:L>I=>C9:E:C9:CI6JIDBD7>A:H:GK>8:H=DEH	H:GK>8:8:CI:G8=6>CH	8DAA>H>DCH:GK>8:DE:G6I>DCH	6C9
L=DA:H6A:E6GIHDJIA:IH/:7:A>:K:I=6II=:EG>C8>E6A8DBE:I>I>K:;68IDGH>CI=:E6GIH6C9H:GK>8:7JH>C:HH6G:EG>8:	
AD86I>DC	:ME:GI>H:L>I=I=:E6GI>8JA6GK:=>8A:A>C:H	6C98JHIDB:GH:GK>8:/:6AHD8DBE:I:L>I=67GD69G6C<:D;;>C6C8>6A
>CHI>IJI>DCH>CDJG;>C6C8:6C9>CHJG6C8:7JH>C:HH/:7:A>:K:I=6II=:EG>C8>E6A8DBE:I>I>K:;68IDGH>CI=:;>C6C8:6C9
>CHJG6C8:7JH>C:HH6G:EGD9J8IH:A:8I>DC	8DCK:C>:C8:	EG>8:	8DCIG68II:GBH	6C9I=:67>A>INID;>C6C8:K:=>8A:EGDI:8I>DC
6C96;I:GB6G@:IEGD9J8IH
/:6AHDDE:G6I:>CI=:6JID;>C6C8:H:8IDGD;I=:8DCHJB:G;>C6C8:B6G@:I,=>HH:8IDG>HEG>B6G>AN8DBEG>H:9D;76C@H	
86EI>K:;>C6C8:9>K>H>DCHD;C:L86GB6CJ;68IJG:GH	8G:9>IJC>DCH	6C9>C9:E:C9:CI;>C6C8:8DBE6C>:H88DG9>C<ID
>C9JHIGNHDJG8:H	I=>HH:8IDGG:EG:H:CI:9BDG:I=6CIG>AA>DC>CDJIHI6C9>C<G:8:>K67A:H6HD;:8:B7:G	
'JG
EG>B6GN8DBE:I>IDGH>CI=>HH:8IDG6G:76C@H6C98G:9>IJC>DCHI=6ID;;:G9>G:8I6C9>C9>G:8I;>C6C8>C<ID8JHIDB:GH
EJG8=6H>C<K:=>8A:H
;@B?/;13/;2<;27;5
'JG7JH>C:HH:MEDH:HJHIDI=:G>H@D;A>67>A>I>:H6G>H>C<DJID;DJGDE:G6I>DCHDG:M6BEA:	A>67>A>I>:HB6N6G>H:DJID;
8A6>BHD;:BEADN::H	8JHIDB:GH	DGDI=:GI=>G9E6GI>:H;DGE:GHDC6A>C?JGNDGEGDE:GIN96B6<:D88JGG>C<>CI=:8DJGH:D;DJG
DE:G6I>DCH/:8DJA96AHD7:HJ7?:8IID;>C:H6C98>K>A6C98G>B>C6AE:C6AI>:H>C8DCC:8I>DCL>I=6AA:<:9K>DA6I>DCHD;
;:9:G6A6C9HI6I:A6LHDGG:G:B:CIH
,=:6JIDBDI>K:G:I6>A7JH>C:HH>H6AHDHJ7?:8IIDHJ7HI6CI>6AG>H@D;EGDE:GINADHH9J:IDI=:H>;>86CI8DC8:CIG6I>DCD;
EGDE:GINK6AJ:H6IHIDG:AD86I>DCH!CDJG86H:>CE6GI>8JA6G	DJGDE:G6I>DCH6G:8DC8:CIG6I:9>CHI6I:H6C9G:<>DCH>CL=>8=
C6IJG6A9>H6HI:GH6C9H:K:G:L:6I=:G:K:CIHHJ8=6H=6>AHIDGBH	=JGG>86C:H	:6GI=FJ6@:H	;>G:H	IDGC69D:H	HCDLHIDGBH	6C9
A6C9HA>9:HB6NHJ7?:8IJHIDHJ7HI6CI>6AG>H@D;EGDE:GINADHH6C9DE:G6I>DC6A9>HGJEI>DC-C9:GH:A;
>CHJG6C8:EGDCK6G>DJHA:K:AHD;6<B>IH	E:G8A6>B9:9J8I>7A:H	6C98A6>BH
=6C9A>C<:ME:CH:H6HE6GID;DJGK6G>DJH
>CHJG6C8:EGDC8AJ9>C<EGDE:GIN6C986HJ6AIN	6JIDBD7>A:	LDG@:GHZ8DBE:CH6I>DC	6C9:BEADN::B:9>86A7:C:;>IH
DHIH>C:M8:HHD;I=>HG:I6>C:9G>H@E:G8A6>BB6N7:>CHJG:9JC9:GK6G>DJH8DCIG68IHL>I=I=>G9
E6GIN>CHJG6C8:86GG>:GH
/::HI>B6I:I=:JAI>B6I:8DHIHD;I=:H:G:I6>C:9>CHJG6C8:G>H@H76H:9DC68IJ6G>6A:K6AJ6I>DCH6C9=>HIDG>86A8A6>BH
:ME:G>:C8:	69?JHI:9;DG8JGG:CIIG:C9H6C98=6C<:H>C8A6>BH
=6C9A>C<EGD8:9JG:H,=:A:K:AD;G>H@L:G:I6>CB6N8=6C<:
>CI=:;JIJG:6H>CHJG6C8:B6G@:I8DC9>I>DCHDGDI=:G;68IDGH6;;:8I>C<I=::8DCDB>8HD;DJG>CHJG6C8:EJG8=6H>C<8=6C<:
AI=DJ<=L:=6K:	HJ7?:8IID8:GI6>CA>B>I6I>DCH6C9:M8AJH>DCH	HJ7HI6CI>6A>CHJG6C8:	L:86CCDI6HHJG:NDJI=6IL:L>AA
CDI7::MEDH:9IDJC>CHJG:9DGJC9:G>CHJG:9ADHH:HI=6I8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	;>C6C8>6A
8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	DG86H=;ADLHJG>C<
	L:G:8DO:9H:A;
>CHJG:9ADHH:HD;B>AA>DCEG>B6G>AN
9J:IDL:6I=:G
G:A6I:9:K:CIH


(GDK>H>DCH;DGG:I6>C:9ADHH:H6C99:9J8I>7A:H6G:B69:7N8=6G<:HID:ME:CH:76H:9JEDCE:G>D9>8:K6AJ6I>DCHD;I=:
:HI>B6I:9JAI>B6I:A>67>A>I>:HDCG:EDGI:96C9JCG:EDGI:98A6>BH,=:>CHJG6C8:8DBE6C>:HI=6IJC9:GLG>I:DJG>CHJG6C8:
G:FJ>G:I=6IL:H:8JG:8:GI6>CD;DJGD7A><6I>DCH;DG9:9J8I>7A:G:>B7JGH:B:CIHL>I=8DAA6I:G6A'JG8DAA6I:G6AG:FJ>G:B:CIH
6G:H:I7NI=:>CHJG6C8:8DBE6C>:H6C9	ID96I:	=6K:7::CH6I>H;>:97NEDHI>C<HJG:IN7DC9H	A:II:GHD;8G:9>I	6C9DG86H=
9:EDH>IH'JG8DAA6I:G6AG:FJ>G:B:CIHB6N8=6C<:;GDBI>B:IDI>B:76H:9DC	6BDC<DI=:GI=>CBH:ME:G>:C8:
'3/@<;/97AF
!C6HI67A::CK>GDCB:CI	DJGDE:G6I>DCH<:C:G6AAN:ME:G>:C8:=><=:GKDAJB:HD;K:=>8A:JC>IH6A:H>CI=:H:8DC96C9
I=>G9FJ6GI:GHD;:68=N:6G9J:>CE6GIID8DCHJB:G7JN>C<IG:C9H6C9I=:>CIGD9J8I>DCD;C:LK:=>8A:BD9:AHAHD	
9:B6C9;DGK:=>8A:H6C9A><=IIGJ8@H>H<:C:G6AANADL:G9JG>C<I=:L>CI:GBDCI=HI=6C>CDI=:GH:6HDCH	E6GI>8JA6GAN>C
G:<>DCHD;I=:-C>I:9+I6I:HL=:G:HIDG:HB6N7:HJ7?:8IID69K:GH:L>CI:G8DC9>I>DCH DL:K:G	L:INE>86AAN:ME:G>:C8:
=><=:GH6A:HD;(G:B>JB$JMJGNK:=>8A:H	L=>8==6K:=><=:G6K:G6<:H:AA>C<EG>8:H6C9IE:GK:=>8A:G:I6>A:9	>C
I=:;DJGI=FJ6GI:G*:K:CJ:6C9DE:G6I>C<G:HJAIHB6N7:>BE68I:9H>;>86CIAN;GDBFJ6GI:GIDFJ6GI:G7N8=6C<>C<
:8DCDB>88DC9>I>DCH	K:=>8A:B6CJ;68IJG:G>C8:CI>K:EGDHI:G:9H:GK>8:B6G@H6C9IG69:B6G@H	>C8AJ9>C<	6BDC<DI=:GB6G@H	JID&6I>DCR6C9
JID&6I>DC-+R(JGHJ6CIID6I=K:=>8A:B6CJ;68IJG:GH	L:=6K:I=:G><=IIDJH:6C99>HEA6N
B6CJ;68IJG:GHZIG69:B6G@H	ADCDJG69K:GI>H>C<6C9EGDBDI>DC6AB6I:G>6AH	HJ7?:8IID
8:GI6>CG:HIG>8I>DCH/:6AHD=6K:A>8:CH:HEJGHJ6CIIDK6G>DJH6I=I=>G9E6GI>:H6JI=DG>O>C<I=:JH:6C99>HEA6N
D;I=:B6G@H6C9DGADG9E6GI>:H	HJ7?:8IID8:GI6>CG:HIG>8I>DCH,=:8JGG:CIG:<>HIG6I>DCHD;DJGH:GK>8:B6G@H
6C9IG69:B6G@H6G::;;:8I>K:;DGK6GN>C<E:G>D9HD;I>B:	L=>8=L:B6NG:C:LE:G>D9>86AAN	EGDK>9:9I=6IL:8DBEANL>I=
6AA6EEA>867A:A6LH
B:/;/=7A/9&3@DC	DJG6HHD8>6I:H6G:DJGB6I:AN	


;JAA
I>B:6C9E6GI
I>B::BEADN::H	L=DBL:G:;:GID6HX6HHD8>6I:H	Y6EEGDM>B6I:AN
D;L=DBL:G:8DK:G:97N
8DAA:8I>K:76G<6>C>C<6DC	6C9G:I:CI>DCD;E:DEA:>H8:CIG6AIDI=:8JAIJG:6I
JID&6I>DC/:6G:8DBB>II:9ID:CHJG>C<L:8G:6I:6C:CK>GDCB:CIL=:G:6AA6HHD8>6I:H;::AK6AJ:9	G:HE:8I:9	6C9
:BEDL:G:9ID68=>:K:I=:>G=><=:HIEDI:CI>6A'JGD6G9D;>G:8IDGH6C9>IHDBB>II::HEGDK>9:DK:GH><=IDC67GD69
G6C<:D;=JB6C86E>I6AB6C6<:B:CIIDE>8H	>C8AJ9>C<8DGEDG6I:8JAIJG:	I6A:CI	8DBE:CH6I>DC	6C97:C:;>IH
!.1%0)!*0* !2!(+,)!*0
'JGG:8GJ>IB:CI:;;DGIH>C8AJ9:7G6C9:969K:GI>H>C<C6I>DCL>9:DCL:AA
@CDLCDCA>C:?D7L:7H>I:H	6HL:AA6H
G:8GJ>IB:CI:;;DGIHI=GDJ<=I:8=C>86AH8=DDAH	K:I:G6CE6GIC:GH=>EH	8DAA:<:H	6C9JC>K:GH>I>:H!C699>I>DC	JID&6I>DC
EGDK>9:H:MI:CH>K:DC
I=:
?D7IG6>C>C<6C9DEEDGIJC>I>:H;DG86G::G9:6G6C<:D;;DGB6A6C9>C;DGB6A
A:6GC>C<EGD8=6G:9:H>6I:H8DCI>CJDJHANGH@>AAHI=GDJ<=DJII=:>G
86G::GHG:6I>C<DEEDGIJC>I>:H;DG:BEADN::G:8DI>DC	9:K:ADEB:CI	6C969K6C8:B:CI>H6@:N>C>I>6I>K:>CDJGI6A:CI
:;;DGIH
+),!*/0%+** !*!"%0/
JID&6I>DCD;;:GH68DBEG:=:CH>K:IDI6AG:L6G9HEGDC8AJ9>C<8DBE:I>I>K:H6A6G>:H6C98DBE:CH6I>DCEA6CH	
>C8:CI>K:8DBE:CH6I>DCEDI:CI>6A	6C9=:6AI=6C9L:A;6G:7:C:;>IH/:D;;:GB6CN7:C:;>IH6ICD699>I>DC6A8DHIIDDJG
6HHD8>6I:H	>C8AJ9>C<DJGBEADN::HH>HI6C8:(GD9B6I:GC>INA:6K:	6C9DJG>CCDK6I>K:XG>K:(>C@Y
>CHE>G:9DBE6CN
E6>986C8:G>CHJG6C8:EA6CI=6IEGDK>9:H;>C6C8>6A6HH>HI6C8:ID6HHD8>6I:H6C9I=:>G:A><>7A:9:E:C9:CIH
L=D6G:9>6I=86C8:G
*##!)!*0
JID&6I>DC7:A>:K:HI=6I;DHI:G>C<6CDE:C
9DDG8JAIJG:76H:9DCIGJHI	G:HE:8I	6C9DE:C8DBBJC>86I>DC6BDC<I:6B
B:B7:GH>HK>I6A;DG9G>K>C<ADC<
I:GBHJHI6>C67A:DC8DC9J8IH6HHD8>6I::C<6<:B:CIHJGK:NH	L=>8=
6AADLHI=:DBE6CNID<6>C8DBEG:=:CH>K:>CH><=IH6C9:HI67A>H=DG<6C>O6I>DCEG>DG>I>:H%DG:I=6CH>BEANA>HI:C>C<ID
6HHD8>6I:H	JID&6I>DC6AHDEGDK>9:HB6C6<:GHL>I=IDDAHI=:NC::9ID7:67A:ID699G:HH6HHD8>6I:;::9768@8DCHIGJ8I>K:AN


L>I=68I>DC67A:C:MIHI:EH,=:8DB7>C:9:;;DGID;I=:H::C<6<:B:CI68I>K>I>:H9G>K:HJID&6I>DCID8DCI>CJDJHAN>BEGDK:
I=:8JAIJG:D;I=:DG<6C>O6I>DC
;4C<H:IH;DGI=8:GI6>C>C;DGB6I>DCG:<6G9>C<DJG:M:8JI>K:D;;>8:GH6HD;:7GJ6GN	

"/:3
53
$<@7A7<;
-3/?@D7A6
BA<"/A7<;
-3/?@7;
BA<:8=6:A%6CA:N

=>:;M:8JI>K:';;>8:G6C9>G:8IDG


,=DB6H+OADH:@

M:8JI>K:.>8:(G:H>9:CI6C9=>:;>C6C8>6A';;>8:G


>6CAJ866BEADC:

=>:;'E:G6I>C<';;>8:G	JID&6I>DC(6GIH	6C9M:8JI>K:
.>8:(G:H>9:CI	JH>C:HH:K:ADEB:CI


DA:B6C9BJC9H

M:8JI>K:.>8:(G:H>9:CI	:C:G6ADJCH:A6C9DGEDG6I:
+:8G:I6GN


$>H6HE6GO6

M:8JI>K:.>8:(G:H>9:CI6C9=>:; JB6C*:HDJG8:';;>8:G


6K:#D:=A:G

=>:;'E:G6I>C<';;>8:G	&DC
G6C8=>H:9JH>C:HH


":;;(6G:CI

=>:;'E:G6I>C<';;>8:G


/).'+2'42+?=6HH:GK:96HDJG=>:;M:8JI>K:';;>8:G6C96H6B:B7:GD;DJGD6G9H>C8:&DK:B7:G
(G>DG
ID?D>C>C<JID&6I>DC	%G%6CA:NH:GK:96H :69D;B:G>86H6C96H6B:B7:GD;I=:GDJEM:8JI>K:DJC8>A;DG
+I:AA6CI>H&.	DC:D;I=:A6G<:HI6JIDBDI>K:DG><>C6A:FJ>EB:CIB6CJ;68IJG:GH>CI=:LDGA9	;GDB"6CJ6GN
JCI>A
'8ID7:G
GDB"JAN
JCI>A"6CJ6GN
	=:H:GK:96H=>:;M:8JI>K:';;>8:GD;>6I=GNHA:GJIDBD7>A:H&.
XY	6EG:9:8:HHDGID+I:AA6CI>H&.%G%6CA:N?D>C:96>BA:G=GNHA:G6EG:9:8:HHDGID>C


6C9	EG>DGID
7:8DB>C<ZH=>:;M:8JI>K:';;>8:G	H:GK:9>C6CJB7:GD;B6C6<:B:CI
A:K:AGDA:HL>I=>C8G:6H>C<G:HEDCH>7>A>IN
DK:GH::>C<K6G>DJH6HE:8IHD;ZHDE:G6I>DCH	>C8AJ9>C<6HM:8JI>K:.>8:(G:H>9:CI
!CI:GC6I>DC6A+6A:H%6G@:I>C<	
JH>C:HH:K:ADEB:CI6C9AD76A(GD9J8I(A6CC>C<'E:G6I>DCH	=>:;M:8JI>K:';;>8:GD;"::E	=>:;M:8JI>K:';;>8:G
D;*6B	=>:;'E:G6I>C<';;>8:G;DGI=:H>6(68>;>8G:<>DC	6C9AD76AM:8JI>K:DJC8>AB:B7:G%G%6CA:N
8JGG:CIANH:GK:HDCI=:D6G9D;>G:8IDGHD;DK:GDGEDG6I>DC&1+'.	69>K:GH>;>:9DCHEGDK>9:G9:A>K:G>C<>CCDK6I>K::FJ>EB:CI6C98DBEDC:CIH	8DCHJB67A:HJEEA>:H	6;I:GB6G@:IE6GIH	HD;IL6G:6C9
9><>I6AHDAJI>DCH	6C9HJEEDGIH:GK>8:H
.53'9@259+1=6HH:GK:96HDJGM:8JI>K:.>8:(G:H>9:CI6C9=>:;>C6C8>6A';;>8:GH>C8:JHG:HEDCH>7A:;DGDK:GH::>C<I=:;>C6C8:9:E6GIB:CI6C9;DG6AA;>C6C8>6A8DCIGDAH6C9:MI:GC6AG:EDGI>C<	;>C6C8>6A
EA6CC>C<6C96C6ANH>H	6C9688DJCI>C<	6HL:AA6HI=:I6M	>CI:GC6A6J9>I	IG:6HJGN	>CK:HIDGG:A6I>DCH	6C98DGEDG6I:G:6A
:HI6I:;JC8I>DCH :>H6AHDG:HEDCH>7A:;DGDJGH=6G:9H:GK>8:8:CI:G>C!GK>C<	,:M6H(G>DGID?D>C>C<JID&6I>DC	%G
+OADH:@H:GK:96HM:8JI>K:.>8:(G:H>9:CI6C9=>:;>C6C8>6A';;>8:G6IK6CIDG	!C8	6A:69>C<9:GD;
B>HH>DC
8G>I>86AEGD9J8IH6C9H:GK>8:HID8JHIDB:GH>CI=:A>;:H8>:C8:H	:9J86I>DC6C9:H	
6C96EEA>:9B6I:G>6AH>C9JHIG>:H	;GDB:8:B7:G
JCI>AJDGID?D>C>C<K6CIDG	%G+OADH:@H:GK:96H
I=:+:C>DG.>8:(G:H>9:CI6C9=>:;>C6C8>6A';;>8:GD; DC:NL:AA!CI:GC6I>DC6A	69>K:GH>;>:9I:8=CDADC<8DBE6CN	;GDBEG>A
IDJ:;'E:G6I>C<';;>8:G	JID&6I>DC(6GIH	6C9M:8JI>K:.>8:(G:H>9:CI	
JH>C:HH:K:ADEB:CIH>C8:%6G8=
%G6BEADC:>HG:HEDCH>7A:;DGDK:GH::>C<I=:DBE6CNZH7JH>C:HHHIG6I:DGID?D>C>C<JID&6I>DC	%G6BEADC:L6H6+:C>DG(6GIC:G6I%8#>CH:N
DBE6CN	6C<;>GB	;GDB:8:B7:GID:7GJ6GN
	L=:G:=:L6HI=:A:69:G>CI=:>G
9K6C8:9!C9JHIG>:H8:6C9(G>K6I:FJ>IN!C9JHIG>6AEG68I>8:>C&DGI=B:G>86
52+3'4*3;4*9=6HH:GK:96HDJGM:8JI>K:.>8:(G:H>9:CI	:C:G6ADJCH:A6C9DGEDG6I:+:8G:I6GNH>C8:
EG>A
GDB'8ID7:G

I=GDJ<=%6G8=
	%G9BJC9HH:GK:96HDJG+:C>DG.>8:(G:H>9:CI	:EJIN:C:G6A
DJCH:A6C9HH>HI6CI+:8G:I6GN :?D>C:9JID&6I>DC>C&DK:B7:G(G>DGID?D>C>C<JID&6I>DC	%G9BJC9HL6H
>CEG>K6I:EG68I>8:L>I=I=:>CI:GC6I>DC6AA6L;>GBD;6@:G%8#:CO>:
/9'96'8@'=6HH:GK:96HDJGM:8JI>K:.>8:(G:H>9:CI6C9=>:; JB6C*:HDJG8:';;>8:GH>C8:+:EI:B7:G

(G>DGID?D>C>C<JID&6I>DC	%HHE6GO6H:GK:96H=>:; JB6C*:HDJG8:';;>8:GD;HH>ADG&DGI=B:G>86	E6GID;


HH>ADG$JMDII>86	I=:CI=:9:H>HIG>7JI>DCD;DE=I=6AB>8A:CH:H	;G6B:H	6C9
HJC:; JB6C*:HDJG8:H';;>8:G6I(6G
(68>;>8 DA9>C8=DLCH6C9DE:G6I:HB6G@:I
A:69>C<:C:GC;G6HIGJ8IJG:7JH>C:HH:H!C
699>I>DC	%HHE6GO6=6H=:A9K6G>DJH=JB6CG:HDJG8:HA:69:GH=>EGDA:H6I:A6C:H:	ADLH:GK:	!C<:GHDAA
*6C9	6C9
6IDCL>I=7>A>I>:H
'<+5+.2+8=6HH:GK:96HDJG=>:;'E:G6I>C<';;>8:G	&DC
G6C8=>H:9JH>C:HHH>C8:%6G8=
%G#D:=A:G>H
G:HEDCH>7A:;DGDK:GH::>C<JID&6I>DC-+	JID&6I>DC%D7>A:+:GK>8:	6C9JID&6I>DCJIDJ8I>DCH(G:K>DJHAN	%G
#D:=A:GL6HI=:6HI:GC*:<>DC(G:H>9:CI;DGDJGHIDG:HAD86I:9>CA676B6	ADG>96	:DG<>6	!AA>CD>H	%6GNA6C9	
%>CC:HDI6	&:L1DG@	'=>D	,:CC:HH::	6C9.>G<>C>6;GDB%6N
ID:7GJ6GN
(G>DGID7:>C<EGDBDI:9ID
6HI:GC*:<>DC(G:H>9:CI>C%6N
	%G#D:=A:G=:A9H:K:G6A@:NEDH>I>DCHL>I=>CJID&6I>DC	>C8AJ9>C<:C:G6A
%6C6<:G	%6G@:I(G:H>9:CI	6C9+:C>DG.>8:(G:H>9:CID;+6A:H7:IL::C
ID

+,,'8+4:=6HH:GK:96HDJG=>:;'E:G6I>C<';;>8:GH>C8:'8ID7:G
%G(6G:CIDK:GH::HJID&6I>DCZH96N
ID
96NDE:G6I>DCH6C9LDG@H6HE6GID;I=:A:69:GH=>EI:6BID:M:8JI:I=:8DBE6CNZHHIG6I:<>8K>H>DC6C99G>K:DE:G6I>DC6A
:M8:AA:C8:(G>DGID?D>C>C<JID&6I>DC	%G(6G:CIH:GK:96H(G:H>9:CI6C9:C:G6A%6C6<:GD;JA;+I6I:H,DNDI6	!C8	
DC:D;I=:LDGA9ZHA6G<:HI>C9:E:C9:CI9>HIG>7JIDGHD;,DNDI6K:=>8A:H6C9E6GIH	;GDB:7GJ6GN
JCI>A'8ID7:G

(G>DGID?D>C>C<JA;+I6I:H,DNDI66H6+:C>DG.>8:(G:H>9:CI>C

	%G(6G:CI=:A9K6G>DJHH:C>DG:M:8JI>K:EDH>I>DCH6I
&>HH6C6C696!C8	.DA@HL6<:CD;B:G>86	!C8	6C9./G:9>I	!C8
C/79/093;4I:>HAD86I:96I33310+*0%+*+)	6C9DJG!CK:HIDG*:A6I>DCHL:7H>I:>HAD86I:96I
%*2!/0+./10+*0%+*+),=:>C;DGB6I>DCDCDG688:HH>7A:I=GDJ<=DJGL:7H>I:H6C9HD8>6AB:9>68=6CC:AH>HCDI
>C8DGEDG6I:97NG:;:G:C8:>CI=>HCCJ6A*:EDGIDCDGB
#'JGCCJ6A*:EDGIDCDGB
#	)J6GI:GAN*:EDGIHDC
DGB
)	JGG:CI*:EDGIHDCDGB
#	6C96B:C9B:CIHIDG:EDGIH;>A:9DG;JGC>H=:9EJGHJ6CIID+:8I>DCH66C9
9D;I=:+:8JG>I>:HM8=6C<:8ID;	6H6B:C9:9	6G:6K6>A67A:	;G::D;8=6G<:	DCDJG!CK:HIDG*:A6I>DCHL:7H>I:
6HHDDC6HG:6HDC67ANEG68I>867A:6;I:GL::A:8IGDC>86AAN;>A:HJ8=B6I:G>6AL>I=	DG;JGC>H=>IID	I=:+:8JG>I>:H6C9
M8=6C<:DBB>HH>DCI=:X+Y


(!	
'JG7JH>C:HH	;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	6C9EGDHE:8IH	6C9I=:EG:K6>A>C<B6G@:IEG>8:6C9
E:G;DGB6C8:D;DJG8DBBDCHID8@B6N7:69K:GH:AN6;;:8I:97N6CJB7:GD;;68IDGH	>C8AJ9>C<I=:B6II:GH9>H8JHH:97:ADL
:GI6>CHI6I:B:CIH6C9>C;DGB6I>DCH:I;DGI=>CI=>HCCJ6A*:EDGIDCDGB
#	>C8AJ9>C<	L>I=DJIA>B>I6I>DC	HI6I:B:CIH
G:<6G9>C<DJGHIG6I:<>8>C>I>6I>K:H	E6GIC:GH=>EH	DG>CK:HIB:CIH	>C8AJ9>C<JID&6I>DC>C6C8:	HI6I:B:CIHG:<6G9>C<DJG
:ME:8I6I>DCH;DGI=:;JIJG:E:G;DGB6C8:D;DJG7JH>C:HH6C9I=:6JIDBDI>K:G:I6>A>C9JHIGN	>C8AJ9>C<9JG>C<
	HI6I:B:CIH
G:<6G9>C<I=:>BE68ID;I=:#AD76AX#YDJI6<:DCDJG7JH>C:HH6C9I=:6K6>A67>A>IND;>CHJG6C8:DGDI=:GHDJG8:HD;
G:8DK:GN	6HL:AA6HDI=:GLG>II:CDGDG6AHI6I:B:CIHB69:;GDBI>B:IDI>B:7NJHDG7NDJG6JI=DG>O:9:M:8JI>K:D;;>8:GHDC
DJG7:=6A;I=6I9:H8G>7:DJGD7?:8I>K:H	IJI:X;DGL6G9
ADD@>C<HI6I:B:CIHYL>I=>CI=:B:6C>C<D;+:8I>DC
D;I=:+:8JG>I>:H8ID;	6H6B:C9:9	6C9+:8I>DCD;I=:+:8JG>I>:HM8=6C<:8ID;	6H6B:C9:9AA
HI6I:B:CIHDI=:GI=6CHI6I:B:CIHD;=>HIDG>86A;68I	>C8AJ9>C<HI6I:B:CIHI=6I9:H8G>7:DJGD7?:8I>K:H	EA6CHDGC<HI6I:B:CIH/DG9HHJ8=6HX6CI>8>E6I:	YX:ME:8I	YX:HI>B6I:	YX>CI:C9	YX:K:	YX8DCI>CJ:	YXB6N	YXL>AA	YX8DJA9	Y6C9K6G>6I>DCHD;HJ8=LDG9H6C9H>B>A6G
:MEG:HH>DCH6G:>CI:C9:9ID>9:CI>;NHJ8=;DGL6G9
ADD@>C<HI6I:B:CIH'JG;DGL6G9
ADD@>C<HI6I:B:CIHG:;A:8IDJG8JGG:CI
:ME:8I6I>DCH8DC8:GC>C<;JIJG:G:HJAIH6C9:K:CIH	6C9I=:N>CKDAK:@CDLC6C9JC@CDLCG>H@H	JC8:GI6>CI>:H6C9DI=:G;68IDGH
I=6I6G:9>;;>8JAIIDEG:9>8I6C9B6N86JH:DJG68IJ6AG:HJAIH	E:G;DGB6C8:	DG68=>:K:B:CIHID7:B6I:G>6AAN9>;;:G:CI;GDB6CN
;JIJG:G:HJAIH	E:G;DGB6C8:	DG68=>:K:B:CIH:MEG:HH:9DG>BEA>:97NI=:H:HI6I:B:CIH,=:H:;DGL6G9
ADD@>C<HI6I:B:CIH
HE:6@DCAN6HD;I=:96I:D;I=>HG:EDGI	6C9L:JC9:GI6@:CDD7A><6I>DCIDG:K>H:DGJE96I:I=:H:HI6I:B:CIHIDG:;A:8I
HJ7H:FJ:CI:K:CIHDG8>G8JBHI6C8:H,=:G>H@H	JC8:GI6>CI>:H	6C9DI=:G;68IDGHI=6IDJGHID8@=DA9:GH6C9EGDHE:8I>K:>CK:HIDGH
H=DJA98DCH>9:G>C8AJ9:	7JI6G:CDIA>B>I:9ID	I=:;DAADL>C<
&7@8@&39/A32A<1<;<:71<;27A7<;@
.+';:535:/<+8+:'/2/4*;9:8?/99+49/:/<+:5).'4-/4-+)5453/))54*/:/549'4*<'8/5;95:.+8,'):589/4)2;*/4-(;:45:
2/3/:+*:5;4+3625?3+4:2+<+29)549;3+8)54,/*+4)+,;+268/)+9/4:+8+9:8':+9'4*:'8/,,9;8(;9/4+99'4*8+9;2:95,
56+8':/549'8+9;(9:'4:/'22?*+6+4*+4:544+='4*;9+*<+./)2+9'2+92+<+29/4:.+ 4/:+*:':+9'4*/45;86'8:/);2'8
-+5-8'6./)3'81+:9'9=+22'9:.+-8599685,/:3'8-/49:.':=+)'4')./+<+545;89'2+95,<+./)2+9'225,=./).'8+<+8?
*/,,/);2::568+*/):
/:7:A>:K:I=6IB6CN;68IDGH6;;:8IH6A:HD;C:L6C9JH:9K:=>8A:H6C96JIDBDI>K:G:I6>A:GHZIB6G<>CH>CI=:
-C>I:9+I6I:H6C9>CDJGE6GI>8JA6G<:D8B6G@:IH	>C8AJ9>C<I=::8DCDBN	;J:AEG>8:H	8G:9>I6K6>A67>A>IN	>CI:G:HIG6I:H	
8DCHJB:G8DC;>9:C8:	8DCHJB:GH=DEE>C<EG:;:G:C8:H6C9I=:HJ88:HHD;I=>G9
E6GINDCA>C:6C9BD7>A:H6A:HEA6I;DGBH	I=:
A:K:AD;E:GHDC6A9>H8G:I>DC6GNHE:C9>C<	A67DG;DG8:E6GI>8>E6I>DC6C9JC:BEADNB:CIG6I:H	I=:HI6I:D;=DJH>C<B6G@:IH	
K:=>8A:EGD9J8I>DCA:K:AH6C986E68>IN	6JID:B>HH>DC6C9;J:A:8DCDBNHI6C96G9H	I=:G6I:D;>C;A6I>DC	8JGG:C8N:M8=6C<:
G6I:H	I6G>;;H	B6CJ;68IJG:G>C8:CI>K:H6C98DCHJB:GHZG:68I>DCIDHJ8=D;;:GH	>CI:CH:>C9JHIGN8DBE:I>I>DC	I=:EGDHE:8IHD;
L6G	DI=:G>CI:GC6I>DC6A8DC;A>8IHDGI:GGDG>HI6II68@H	8H	H:K:G:L:6I=:G:K:CIH	EGD9J8IFJ6A>IN	6;;DG967>A>IN
6C9>CCDK6I>DC	I=:CJB7:GD;8DCHJB:GHL=DH:K:=>8A:A:6H:H6G::ME>G>C<	I=:A:CHI>C<
K:=>8A:H	6C9I=:G>H:D;G>9:
H=6G>C<6EEA>86I>DCH=6C<:H>C>CI:G:HIG6I:H86CH>;>86CIAN>BE68IC:L6C9JH:9K:=>8A:
H6A:H6C9K:=>8A:6;;DG967>A>IN9J:IDI=:9>G:8IG:A6I>DCH=>E7:IL::C>CI:G:HIG6I:H6C9BDCI=ANAD6CE6NB:CIH	68G>I>86A
;68IDG;DGB6CNK:=>8A:7JN:GH	6C9I=:>BE68I>CI:G:HIG6I:H=6K:DC8JHIDB:GHZ7DGGDL>C<86E68>IN6C99>HEDH67A:>C8DB:
+6A:HD;8:GI6>CK:=>8A:H	E6GI>8JA6GANIGJ8@H6C9HEDGIJI>A>INK:=>8A:HI=6I=>HIDG>86AAN=6K:EGDK>9:9JHL>I==><=:GIE:GK:=>8A:G:I6>A:9	6G:H:CH>I>K:ID;J:AEG>8:H6C9I=:A:K:AD;8DCHIGJ8I>DC68I>K>IN!C699>I>DC	G6E>98=6C<:H>C;J:A
EG>8:H86C86JH:H=>;IH>C8DCHJB:GEG:;:G:C8:HL=>8=6G:9>;;>8JAIID688DBBD96I:<>K:CI=:ADC<A:69
I>B:D;>CK:CIDGN
68FJ>H>I>DC,=:>BEDH>I>DCD;C:LI6G>;;H	FJDI6H	9JI>:H	DGDI=:GG:HIG>8I>DCHDGA>B>I6I>DCH8DJA9>C8G:6H:EG>8:H;DGK:=>8A:H
6C9DGE6GIH>BEDGI:9>CIDI=:-C>I:9+I6I:H6C969K:GH:AN>BE68I9:B6C9;DGHJ8=K:=>8A:H6C9DGE6GIH'JGK:=>8A:H6A:H	
H:GK>8:	6C98DAA>H>DC7JH>C:HH:H8DJA96AHD7:69K:GH:AN6;;:8I:97N8=6C<:H>CI=:6JIDBDI>K:>C9JHIGN9G>K:C7NC:L
I:8=CDAD<>:H	9>HIG>7JI>DC8=6CC:AH	DGEGD9J8IH	>C8AJ9>C<G>9:
H=6G>C<6EEA>86I>DCH	HJ7H8G>EI>DCH:GK>8:H	6JIDCDBDJH6C9
:A:8IG>8K:=>8A:H	6C9688>9:CI6KD>96C8:I:8=CDADB6I:AN
B>AA>DC	B>AA>DC	6C9B>AA>DCC:LK:=>8A:H	>C8AJ9>C<G:I6>A6C9;A::IK:=>8A:H	L:G:HDA9>C
I=:-C>I:9+I6I:H>C
	
	6C9
	G:HE:8I>K:AN'JGE:G;DGB6C8:B6N9>;;:G;GDBI=:E:G;DGB6C8:D;I=:6JIDBDI>K:
G:I6>A>C9JHIGN9J:IDE6GI>8JA6G:8DCDB>88DC9>I>DCH6C9DI=:G;68IDGH>CI=:<:D8B6G@:IH>CL=>8=L:DE:G6I:
8DCDB>88DC9>I>DCH6C9I=:DI=:G;68IDGH9:H8G>7:967DK:B6N6AHDB6I:G>6AAN69K:GH:AN>BE68IDJGH6A:HD;E6GIH6C9


6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H6C96JIDBDI>K:;>C6C8:6C9>CHJG6C8:EGD9J8IH6C9DJG67>A>INID6EEGDK:
EGDK>9:;>C6C8>C<ID8JHIDB:GH
&7@8@&39/A32A<*367193!/;B4/1AB?3?@/;2#A63?(67?2$/?AF'B==973?@
;84+=<+./)2+9'2+9'8+/36'):+*(?:.+/4)+4:/<+3'81+:/4-'4*5:.+8685-8'395,<+./)2+3'4;,'):;8+89
%DHIK:=>8A:B6CJ;68IJG:GH;GDBI>B:IDI>B::HI67A>H=K6G>DJHB6G@:I>C<6C9H6A:H>C8:CI>K:EGDGK:=>8A:H	E6GI>8JA6GAN9JG>C<E:G>D9HD;:M8:HHHJEEAN6C9DG>C6;A6IDG9:8A>C>C<C:LK:=>8A:
H6A:HB6G@:I,=:H:EGDBE68IDJGDE:G6I>DCH	E6GI>8JA6GANDJGH6A:HD;C:LK:=>8A:H+>C8:I=:H:EGDC69K6C8:	I=:N86C7:9>;;>8JAIIDEA6C;DGL=:CDG9:G>C<>CK:CIDGNJGI=:GBDG:	B6CJ;68IJG:GHB6NBD9>;N
6C99>H8DCI>CJ:I=:H:B6G@:I>C<6C9>C8:CI>K:EGDB:IDI>B:	L=>8=8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJG
G:HJAIHD;DE:G6I>DCH6C986H=;ADLH
!CEG>DGN:6GH	DJGC:LK:=>8A:JC>IKDAJB:6C9C:LK:=>8A:IDC6E:GK:=>8A:G:I6>A:976H>HL:G:69K:GH:AN
>BE68I:97N8:GI6>CB6CJ;68IJG:GHZ9>HGJEI>K:B6G@:I>C<6C9H6A:H>C8:CI>K:EGDH=:97NI=DH:B6CJ;68IJG:GH8DBBDCANG:;:GG:9ID6HXHI6>G
HI:EY>C8:CI>K:EGD8=G:HJAI>CBJAI>
I>:G
EG>8>C<6C969K:GH:AN>BE68IDJG67>A>INID8DBE:I:L>I=DI=:G9:6A:GH!;I=DH:B6CJ;68IJG:GH8DCI>CJ:IDJH:HJ8=>C8:CI>K:
EGD;DI=:GB6CJ;68IJG:GH69DEIH>B>A6G>C8:CI>K:EGDC<G:HJAIH8DJA97:69K:GH:AN>BE68I:9
"+'8+*+6+4*+4:;654:.+9;))+99'4*)54:/4;+*,/4'4)/'2H9:E:C9:CIDCK:=>8A:B6CJ;68IJG:GH>CH:K:G6A@:NG:HE:8IH>GHI	L:G:AN:M8AJH>K:ANDCI=:
K6G>DJHK:=>8A:B6CJ;68IJG:GH;DGDJGC:LK:=>8A:>CK:CIDGN'JG67>A>INIDH:AAC:LK:=>8A:H>H9:E:C9:CIDC6K:=>8A:
B6CJ;68IJG:GZH67>A>INID9:H>K:	=><=
FJ6A>IN	6C99:H>G67A:EGD9J8IB>M
6II=:G><=II>B:6C96II=:G><=IEG>8:>CDG9:GIDH6I>H;N8JHIDB:G9:B6C9+:8DC9	B6CJ;68IJG:GH<:C:G6AANHJEEDGII=:>G
;G6C8=>H::H7NEGDK>9>C<9>G:8I;>C6C8>6A6HH>HI6C8:>CK6G>DJH6G:6H	>C8AJ9>C<	6BDC<DI=:GH	;ADDGEA6C6HH>HI6C8:6C9
69K:GI>H>C<6HH>HI6C8:,=>G9	B6CJ;68IJG:GHEGDK>9:EGD9J8IL6GG6CI>:H6C9	>CHDB:86H:H	H:GK>8:8DCIG68IHID8JHIDB:GH
'JGHIDG:HE:G;DGBL6GG6CIN6C9H:GK>8:8DCIG68ILDG@;DGK:=>8A:HJC9:GB6CJ;68IJG:GEGD9J8IL6GG6CI>:H6C9H:GK>8:
8DCIG68IH	6C99>G:8I7>AAI=:B6CJ;68IJG:G6HDEEDH:9ID>CKD>8>C<I=:HIDG:8JHIDB:GI6CNE6GI>8JA6GI>B:	L:=6K:
H>;>86CIG:8:>K67A:H;GDBB6CJ;68IJG:GH;DGL6GG6CIN6C9H:GK>8:LDG@E:G;DGB:9;DG8JHIDB:GH!C699>I>DC	L:G:ANDC
B6CJ;68IJG:GHIDK6GN>C<:MI:CIH;DGDG><>C6A:FJ>EB:CIB6CJ;68IJG:9G:EA68:B:CIE6GIH	IG6>C>C<	EGD9J8I7GD8=JG:H6C9
ED>CID;H6A:B6I:G>6AH	6C9DI=:G>I:BH;DGDJGHIDG:H'JG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	6C9;>C6C8>6A8DC9>I>DC8DJA97:
B6I:G>6AAN69K:GH:AN6;;:8I:96H6G:HJAID;6CN:K:CII=6I=6H6B6I:G>6A69K:GH::;;:8IDCI=:K:=>8A:B6CJ;68IJG:GHDG
9>HIG>7JIDGHI=6I6G:DJGEG>B6GN;G6C8=>HDGH
,=:8DG:7G6C9HD;K:=>8A:HI=6IL:H:AA	G:EG:H:CI>C<6EEGDM>B6I:AND;I=:C:LK:=>8A:HI=6IL:HDA9>C
	6G:
B6CJ;68IJG:97N,DNDI6>C8AJ9>C<$:MJH	 DC96	DG9	:C:G6A%DIDGH	%/	%:G8:9:H
:CO	+I:AA6CI>H	6C9
.DA@HL6<:C>C8AJ9>C<J9>6C9(DGH8=:H6G:HJAI	L:6G:HJ7?:8IID68DC8:CIG6I>DCD;G>H@	6C9DJG7JH>C:HH8DJA97:
B6I:G>6AAN69K:GH:AN>BE68I:97NI=:;>C6C8>6A9>HIG:HH	>C8AJ9>C<76C@GJEI8N	D;DGDI=:G69K:GH::K:CIG:A6I:9ID6B6?DG
K:=>8A:B6CJ;68IJG:GDGG:A6I:9A:C9:GDGHJEEA>:G
.:=>8A:B6CJ;68IJG:GHB6N7:69K:GH:AN>BE68I:97N:8DCDB>89DLCIJGCHDGG:8:HH>DCH	H>;>86CI9:8A>C:H>CI=:H6A:H
D;I=:>GC:LK:=>8A:H	C6IJG6A9>H6HI:GH	>C8G:6H:H>C>CI:G:HIG6I:H	69K:GH:;AJ8IJ6I>DCH>C8JGG:C8N:M8=6C<:G6I:H	9:8A>C:H>C
I=:>G8G:9>IG6I>CFJ>9>IN8DC8:GCH	A67DGHIG>@:HDGH>B>A6G9>HGJEI>DCH>C8AJ9>C<L>I=>CI=:>GB6?DGHJEEA>:GH	HJEEAN
H=DGI6<:HDGG>H>C<G6LB6I:G>6A8DHIH	G>H>C<:BEADN::7:C:;>I8DHIH	K:=>8A:G:86AA86BE6>8>INI=6IB6N
G:9J8:8DCHJB:G9:B6C9;DGI=:>GEGD9J8IH>C8AJ9>C<9J:ID76C@GJEI8N	EGD9J8I9:;:8IH	A>I><6I>DC	EDDGEGD9J8IB>MDG
JC6EE:6A>C<K:=>8A:9:H>DCH>C8AJ9>C<;J:A:8DCDBNG:FJ>G:B:CIH	I6G>;;H6C9DI=:G
>BEDGIEGD9J8IG:HIG>8I>DCH	I=:G>H:D;G>9:
H=6G>C<6EEA>86I>DCH	DGDI=:G69K:GH::K:CIH,=:H:6C9DI=:GG>H@H8DJA9
B6I:G>6AAN69K:GH:AN6;;:8I6CNB6CJ;68IJG:G6C9>BE68I>IH67>A>INIDEGD;>I67AN9:H>HIG>7JI:C:L
K:=>8A:H	L=>8=>CIJGC8DJA9B6I:G>6AAN69K:GH:AN6;;:8IDJG67>A>INIDD7I6>CDG;>C6C8:DJG9:H>G:9C:LK:=>8A:>CK:CIDG>:H	
DJG67>A>INIDI6@:69K6CI6<:D;B6CJ;68IJG:G;>C6C8>6A6HH>HI6C8:EGDA>INID8DAA:8I>C;JAADGDC6I>B:AN76H>H
DJGB6CJ;68IJG:GL6GG6CIN6C9DI=:GG:8:>K67A:H	6C9DGDJG67>A>INIDD7I6>CDI=:G8:HEGDK>9:97NI=:


>BE68I:9B6CJ;68IJG:G!C699>I>DC	K:=>8A:G:86AA86BE6>6AAN69K:GH:AN6;;:8IDJG7JH>C:HH	G:HJAIHD;
DE:G6I>DCH	6C9;>C6C8>6A8DC9>I>DC
'JG7JH>C:HH8DJA97:B6I:G>6AAN69K:GH:AN>BE68I:97NI=:76C@GJEI8ND;6B6?DGK:=>8A:B6CJ;68IJG:GDGG:A6I:9A:C9:G
DG:M6BEA:	>6B6CJ;68IJG:G>C76C@GJEI8N8DJA96II:BEIIDI:GB>C6I:6AADG8:GI6>CD;DJG;G6C8=>H:H	>CL=>8=86H:L:
B6NCDIG:8:>K:69:FJ6I:8DBE:CH6I>DC;DGDJG;G6C8=>H:H	>>8DCHJB:G9:B6C9;DGHJ8=B6CJ;68IJG:GZHEGD9J8IH8DJA97:
B6I:G>6AAN69K:GH:AN6;;:8I:9	>>>6A:C9:G>C76C@GJEI8N8DJA96II:BEIIDI:GB>C6I:DJG;ADDGEA6C;>C6C8>C<6C99:B6C9
G:E6NB:CID;6CN6BDJCIHDJIHI6C9>C<	>KL:B6N7:JC67A:ID6GG6C<:;>C6C8>C<;DGDJG8JHIDB:GH;DGI=:>GK:=>8A:
EJG8=6H:H6C9A:6H:HI=GDJ<=HJ8=A:C9:G	>CL=>8=86H:L:LDJA97:G:FJ>G:9IDH::@;>C6C8>C<L>I=6AI:GC6I:;>C6C8>C<
HDJG8:H	L=>8=B6N7:9>;;>8JAIIDD7I6>CDCH>B>A6GI:GBH	>;6I6AA	KL:B6N7:JC67A:ID8DAA:8IHDB:DG6AAD;DJG
H>;>86CIG:8:>K67A:HI=6I6G:9J:;GDBHJ8=B6CJ;68IJG:GDGA:C9:G	6C9L:B6N7:HJ7?:8IIDEG:;:G:C8:8A6>BHG:A6I>C<ID
E6NB:CIHB69:7NHJ8=B6CJ;68IJG:GDGA:C9:GEG>DGID76C@GJEI8N	6C9K>HJ8=B6CJ;68IJG:GB6N7:G:A>:K:9D;>IH
>C9:BC>;>86I>DCD7A><6I>DCHL>I=G:HE:8IIDEGD9J8IA>67>A>IN8A6>BH99>I>DC6AAN	6CNHJ8=76C@GJEI8NB6NG:HJAI>CJH7:>C<
G:FJ>G:9ID>C8JG>BE6>GB:CI8=6G<:HL>I=G:HE:8IIDI=:>CK:CIDGN	;>M:96HH:IH	G><=I
D;
JH:6HH:IH	6C9>CI6C<>7A:6HH:IH
G:A6I:9ID8:GI6>C;G6C8=>H:H	L=>8=8DJA969K:GH:AN>BE68IDJGG:HJAIHD;DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DC
JGI=:G	L:G:ANDCK6G>DJHI=>G9
E6GINHJEEA>:GH;DG@:NEGD9J8IH6C9H:GK>8:HIDHJEEDGIDJG7JH>C:HH	>C8AJ9>C<#	I=:
EGDK>9:GD;DJG9:6A:GB6C6<:B:CIHNHI:BX%+Y	L=>8=HJEEDGIHDJG9:6A:GH=>EDE:G6I>DCH	>C8AJ9>C<DJGH6A:H	H:GK>8:	
>CK:CIDGN	8JHIDB:GG:A6I>DCH=>EB6C6<:B:CI	6C9688DJCI>C<;JC8I>DCH'JIHDJG8>C<IDI=>G9
E6GINHJEEA>:GHG:9J8:HDJG
9>G:8I8DCIGDADK:GI=:H:GK>8:HG:C9:G:9	6HL:9DCDI=6K:8DCIGDADK:GI=:>G7JH>C:HHDE:G6I>DCH	6C8:
HNHI:BH	EG68I>8:H	6C9EGD8:9JG:H!;DJGHJEEA>:GH;6>AID9:A>K:GEGD9J8IHDGH:GK>8:HDC6I>B:AN76H>H6C96IG:6HDC67A:
EG>8:H;DG6CNG:6HDC	DG>;I=:I=>G9
E6GI>:HZH:GK>8:H6G:>CI:GGJEI:9	9>H67A:9	HJ7
HI6C96G9	DGDI=:GL>H:9:;>8>:CI	6HI=:N
=6K:7::CDGB6N7:>CI=:;JIJG:	DJG7JH>C:HH8DCI>CJ>INDGG:8DK:GNEGD8>:CIIDB>I><6I:I=:=6GB
I=6IB6NG:HJAI	6C9L:8DJA9;68:9>;;>8JAI>:HDE:G6I>C<DJG7JH>C:HH6C9HJ;;:GG:EJI6I>DC6A=6GB	6C9DJGG:HJAIHD;
DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DC8DJA97:69K:GH:AN>BE68I:9+::I=:G>H@;68IDG	:! !,!* +*%*"+.)0%+*0!$*+(+#5
"+.+1.1/%*!//* .!/1&!00+.%/'/.!(0! 0+5!./!1.%050$.!0/* %*% !*0/%*(1 %*#0$+/!""!0%*#+1.0$%. 
,.05/1,,(%!./* +0$!./!.2%!,.+2% !./
"%(1.!+"+1.%*"+.)0%+*/5/0!)/+.*55!./!1.%05.!$!/+.
1*10$+.%6!  %/(+/1.!+"+*"% !*0%(%*"+.)0%+*+1( $2!)0!.%( 2!./!!""!0+*+1.1/%*!// %/.1,0+1.
1/%*!//*  2!./!(5%),0+1..!,100%+** .!/1(0/+"+,!.0%+*/;7:ADL;DG699>I>DC6A>C;DGB6I>DCDCI=:#8N7:G
>C8>9:CI>C"JC:

"+'8+9;(0+)::58+9:8/):/549/3659+*(?'4*9/-4/,/)'4:/4,2;+4)+,853<+./)2+3'4;,'):;8+89:.':3'?'*<+89+2?
/36'):5;8(;9/4+99,/4'4)/'2)54*/:/548+9;2:95,56+8':/549)'9.,25=9'4*68596+):9/4)2;*/4-5;8'(/2/:?:5')7;/8+
'**/:/54'29:58+9
.:=>8A:B6CJ;68IJG:GH6C99>HIG>7JIDGHL>I=L=DBL:=DA9;G6C8=>H:H=6K:H>;>86CI>C;AJ:C8:DK:GI=:DE:G6I>DCHD;
DJGHIDG:H,=:I:GBH6C98DC9>I>DCHD;DJG;G6B:LDG@	;G6C8=>H:	6C9G:A6I:96CI:G:HIH
6C9D7?:8I>K:HB6N	>C8:GI6>C8>G8JBHI6C8:H	8DC;A>8IL>I=DJG>CI:G:HIH6C9D7?:8I>K:HDG:M6BEA:	B6CJ;68IJG:GH86CH:I
E:G;DGB6C8:HI6C96G9HL>I=G:HE:8IIDH6A:HKDAJB:	H6A:H:;;:8I>K:C:HH	6C98JHIDB:GH6I>H;68I>DCDGADN6AIN	6C986C
>C;AJ:C8:DJG67>A>INID68FJ>G:699>I>DC6AHIDG:H	I=:C6B>C<6C9B6G@:I>C<D;DJGHIDG:H	DJG9><>I6A8=6CC:AH	DJGH:A:8I>DC
D;HIDG:B6C6<:B:CI	EGD9J8IHID8@>C<6C969K:GI>H>C<HE:C9>C<A:K:AH	6C9I=:A:K:A6IL=>8=L:86E>I6A>O:DJGHIDG:H
%6CJ;68IJG:GH6AHD>BEDH:B>C>BJB;68>A>ING:FJ>G:B:CIHI=6I86CG:FJ>G:H>;>86CI86E>I6A:ME:C9>IJG:H%6CJ;68IJG:GH
B6N6AHD=6K:8:GI6>CG><=IHIDG:HIG>8IDJG67>A>INIDEGDK>9::HD;DJGDE:G6I>C<8DBE6C>:H	EA:9<:HD;I=:86E>I6A
HID8@D;DJGHJ7H>9>6G>:H	6C9A>:CHDCDJG6HH:IH	L=>8=8DJA969K:GH:AN>BE68IDJG67>A>INIDD7I6>C;>C6C8>C<;DGDJG
7JH>C:HH6C9DE:G6I>DCHDC;6KDG67A:I:GBHDG6I9:H>G:9A:K:AHGDBI>B:IDI>B:	L:6G:EG:8AJ9:9JC9:G6I=
8:GI6>CB6CJ;68IJG:GH;GDB68FJ>G>C<699>I>DC6A;G6C8=>H:H	DGHJ7?:8IIDDI=:G69K:GH:68I>DCH	IDI=::MI:CIL:6G:CDI
B::I>C<8:GI6>CE:G;DGB6C8:8G>I:G>66IDJG:M>HI>C<HIDG:HL>I=G:HE:8IIDB6II:GHHJ8=6HH6A:HKDAJB:	H6A:H:;;:8I>K:C:HH	
6C98JHIDB:GH6I>H;68I>DCDGADN6AINJCI>ADJGE:G;DGB6C8:>BEGDK:H>C688DG96C8:L>I=I=:6867A:
HI6I:;G6C8=>H:A6LH
%6CJ;68IJG:GH6AHD=6K:I=:G><=IID:HI67A>H=C:L;G6C8=>H:HDGG:AD86I::M>HI>C<;G6C8=>H:H	HJ7?:8IID6EEA>867A:HI6I:
;G6C8=>H:A6LH,=::HI67A>H=B:CIDGG:AD86I>DCD;;G6C8=>H:H>CDJGB6G@:IH8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCI=:
;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	6C9EGDHE:8IHD;DJGHIDG:H>CI=:B6G@:I>CL=>8=I=:;G6C8=>H:68I>DC>H
I6@:C


'JG;G6B:LDG@	;G6C8=>H:	6C9G:A6I:96<=IIDI:GB>C6I:DG8DBE:AJHIDH:AA
DJG;G6C8=>H:;DG6K6G>:IND;G:6HDCH>C8AJ9>C<JC8JG:9E:G;DGB6C8:9:;>8>:C8>:H	6CNJC6EEGDK:98=6C<:D;DLC:GH=>EDG
B6C6<:B:CI	DG6CNJC6EEGDK:9IG6CH;:GD;;G6C8=>H:G><=IHDG>BE6>GB:CID;;>C6C8>6AHI6C9>C<DG;6>AJG:IDB::I86E>I6A
G:FJ>G:B:CIH	HJ7?:8IID6EEA>867A:HI6I:;G6C8=>H:A6LHGDBI>B:IDI>B:	8:GI6>CB6?DGB6CJ;68IJG:GH6HH:GIH6A:H6C9
8JHIDB:GH6I>H;68I>DCE:G;DGB6C8:9:;>8>:C8>:HJC9:GI=:I:GBHD;DJG;G6B:LDG@6C9;G6C8=>H:6I>DC6AAN	DJG
;G6B:LDG@6CG:HIG>8I>DCHG:<6G9>C<68=6C<:>C8DCIGDA	L=>8=B6N7:DJIH>9:D;DJG8DCIGDA+::
XI=.:=>8A:%6CJ;68IJG:GHY>C(6GI!	!I:BD;I=>HDGB
#/=>A:L:7:A>:K:I=6IL:L>AA7:67A:ID
G:C:L6AAD;DJG;G6C8=>H:6H:6AA7:G:C:L:9DGI=6II=:
I:GBHD;I=:G:C:L6AHL>AA7:;6KDG67A:IDJH/:86CCDI6HHJG:NDJI=6IDJGHIDG:HL>AA7:67A:ID8DBEANL>I=
B6CJ;68IJG:GHZH6A:H	8JHIDB:GH6I>H;68I>DC	ADN6AIN	E:G;DGB6C8:	;68>A>IN	6C9DI=:GG:FJ>G:B:CIH>CI=:;JIJG:	L=>8=B6N
6;;:8IDJG67>A>INID68FJ>G:C:LHIDG:HDGG:C:LDJG;G6C8=>H:6DCH	>C8AJ9>C<
I:GB>C6I>DCDG8DBE:AA:9H6A:D;6;G6C8=>H:	6CND;L=>8=8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJG;>C6C8>6A8DC9>I>DC	
G:HJAIHD;DE:G6I>DCH	86H=;ADLH	6C9EGDHE:8IHJGI=:GBDG:	L:G:ANDCI=:EGDI:8I>DCD;HI6I:;G6C8=>H:A6LH>CI=:HI6I:H>C
L=>8=L:DE:G6I:6C9>;I=DH:A6LH6G:G:E:6A:9DGL:6@:C:9	DJG;G6B:LDG@	;G6C8=>H:	6C9G:A6I:967A:IDI:GB>C6I>DC	CDC
G:C:L6A	DGG:C:6I>DC
!C699>I>DC	L:=6K:CB6CJ;68IJG:GHI=:G><=IID68FJ>G:	6I;6>GB6G@:IK6AJ:	DJG6JIDBDI>K:9:6A:GH=>EH
;G6C8=>H:97NI=6IB6CJ;68IJG:G>CHE:8>;>:98>G8JBHI6C8:H>CI=::K:CID;DJG9:;6JAIJC9:G8:GI6>CD;DJG9:7I66'49/545,5;8;:5':/54/4'4)+
(;9/4+995;8;:5':/54 ;9+*<+./)2+9:58+9'4*5;8;:5':/545(/2++86+49+9=/:.5;::.+(+4+,/:5,/3685<+*,/4'4)/'28+9;2:9
/:=6K:>CK:HI:96C9L>AA8DCI>CJ:ID>CK:HIHJ7HI6CI>6AG:HDJG8:H>CB6G@:I>C<68I>K>I>:HL>I=I=:CC<6C9:C=6C8>C<I=:JID&6I>DCG:I6>A7G6C96C96IIG68I>C<8DCHJB:GHIDDJGDLC9><>I6A8=6CC:AH/:6G:
6AHD>CK:HI>C<H>;>86CIAN>CK6G>DJHHIG6I:<>8>C>I>6I>K:H	>C8AJ9>C<I=:EA6CC:9:ME6CH>DCD;DJGJID&6I>DC>C6C8:
7JH>C:HH	DJGJID&6I>DC-+JH:9K:=>8A:HIDG:H	6C9DJGJID&6I>DC%D7>A:+:GK>8:7JH>C:HH,=:H:HIG6I:<>8>C>I>6I>K:H
B6N7:>BE68I:97N6CJB7:GD;K6G>67A:H	>C8AJ9>C<8JHIDB:G69DEI>DC	6K6>A67>A>IND;JH:9K:=>8A:>CK:CIDGN	9:B6C9;DG
DJG7G6C9:9EGD9J8IH	B6G@:I8DC9>I>DCH	6C9DJG67>A>INID>9:CI>;N	68FJ>G:	6C97J>A9DJIHJ>I67A:AD86I>DCH>C6I>B:AN
B6CC:G,=:G:86C7:CD6HHJG6C8:I=6II=:H:>C>I>6I>K:HL>AA7:HJ88:HH;JADGI=6II=:6BDJCIL:>CK:HI>CI=:H:>C>I>6I>K:H
L>AAG:HJAI>C>BEGDK:9;>C6C8>6AG:HJAIH!;DJG>C>I>6I>K:H6G:CDIHJ88:HH;JA	L:L>AA=6K:>C8JGG:9H>;>86CI:ME:CH:H
L>I=DJII=:7:C:;>ID;>BEGDK:9;>C6C8>6AG:HJAIH	6C9L:B6N7:G:FJ>G:9ID>C8JG>BE6>GB:CI8=6G<:H
,=+'8+45:'(2+:53'/4:'/4'4*+4.'4)+5;88+:'/2(8'4*9'4*8+6;:':/5458:5'::8'):)549;3+89:55;85=4*/-/:'2
).'44+2958/,+<+4:95));8:.':*'3'-+5;88+:'/2(8'4*98+6;:':/54589'2+9).'44+295;8(;9/4+99'4*,/4'4)/'2
8+9;2:93'?(+.'83+*
/:=6K:B69:H>;>86CI>CK:HIB:CIHID7J>A96C:M8:AA:CIG:EJI6I>DC6H6C6JIDBDI>K:G:I6>A:G>CI=:-C>I:9+I6I:H>C6
=><=AN8DBE:I>I>K:>C9JHIGNAAD;DJGDB:HI>86C9!BEDGIHIDG:H6G:JC>;>:9JC9:GI=:JID&6I>DCG:I6>A7G6C9/:7:A>:K:
I=6IDJG8DCI>CJ:9HJ88:HHL>AA9:E:C9DCDJG67>A>INIDB6>CI6>C6C9:C=6C8:I=:K6AJ:D;DJGG:I6>A7G6C9H68GDHH6AAD;DJG
H6A:H8=6CC:AH	>C8AJ9>C<>CI=:8DBBJC>I>:H>CL=>8=L:DE:G6I:	6C9ID6IIG68I8DCHJB:GHIDDJGDLC9><>I6A8=6CC:AH
DCHJB:GH6G:>C8G:6H>CC<;DGC:L6C9JH:9K:=>8A:H	6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	6C9DI=:G
6JIDBDI>K:EGD9J8IH6C9H:GK>8:HDCA>C:6C9I=GDJ<=BD7>A:6EEA>86I>DCH	>C8AJ9>C<I=GDJ<=I=>G9
E6GINDCA>C:6C9BD7>A:
H6A:HEA6I;DGBH	L>I=L=>8=L:8DBE:I:/:=6K:>CK:HI:96C9L>AA8DCI>CJ:ID>CK:HIHJ7HI6CI>6AG:HDJG8:HDCD;;:G>C<DJG
K:=>8A:H6C9H:GK>8:HI=GDJ<=9><>I6A8=6CC:AH,=:G:86C7:CD6HHJG6C8:I=6IDJG>C>I>6I>K:H6C9>CK:HIB:CIH>C9><>I6A
8=6CC:AHL>AA7:HJ88:HH;JADGG:HJAI>C>BEGDK:9;>C6C8>6AE:G;DGB6C8:/:;68:>C8G:6H:98DBE:I>I>DC;DGB6G@:IH=6G:;GDB
DI=:G6JIDBDI>K:G:I6>A:GH6C9H6A:HEA6I;DGBH	>C8AJ9>C<:A:8IG>8K:=>8A:B6CJ;68IJG:GHL=DH:AA9>G:8IANID8DCHJB:GH	I=6I
=6K:6AHD>CK:HI:9HJ7HI6CI>6AG:HDJG8:HDCD;;:G>C<I=:>GK:=>8A:H6C9H:GK>8:HI=GDJ<=9><>I6A8=6CC:AH!;L:;6>AIDEG:H:GK:
I=:K6AJ:D;DJGG:I6>A7G6C9H	B6>CI6>CDJGG:EJI6I>DC	DG6IIG68I8DCHJB:GHIDDJGDLC9><>I6A8=6CC:AH	DJG7JH>C:HH8DJA97:
69K:GH:AN>BE68I:9
!C699>I>DC	6C>HDA6I:97JH>C:HH>C8>9:CI6I6H>C6AAN69K:GH:AN6;;:8IDJGDI=:GHIDG:H	G:I6>A7G6C9H	
G:EJI6I>DC	6C9H6A:H8=6CC:AH	E6GI>8JA6GAN>;HJ8=>C8>9:CIG:HJAIH>C69K:GH:EJ7A>8>IN	CK:HI><6I>DCH	DG


A>I><6I>DC,=:C<JH:D;HD8>6AB:9>67N8DCHJB:GH>C8G:6H:HI=:HE::96C9:MI:CII=6I>C;DGB6I>DC6C9DE>C>DCH86C7:
H=6G:9	6C9C:<6I>K:EDHIHDG8DBB:CIHDCHD8>6AB:9>667DJIJID&6I>DCDG6CND;DJGHIDG:H8DJA9B6I:G>6AAN96B6<:DJG
G:I6>A7G6C9H	G:EJI6I>DC	6C9H6A:H8=6CC:AH
"+'8+9;(0+)::5<'8/5;98/919'995)/':+*=/:.58/-/4':/4-'4*9+8<>C6I:6C9H:GK>8:8DCHJB:G6JID;>C6C8:AD6CHI=GDJ<=JID&6I>DC>C6C8:	DJG86EI>K:6JID;>C6C8:8DBE6CN
/:6G:HJ7?:8IIDK6G>DJHG>H@H>CI=>H7JH>C:HH	>C8AJ9>C<I=:G>H@I=6IDJG7DGGDL:GH9DCDIG:E6NI=:>GAD6CH6C9I=6II=:
K:=>8A:8DAA6I:G6AH:8JG>C<I=:E6NB:CID;I=:>GAD6CHB6NCDI7:HJ;;>8>:CIID:CHJG:;JAAG:E6NB:CIG:9>IADHH:H6G:6C
>C=:G:CIG>H@D;DJG6JIDAD6CEDGI;DA>D	6C98=6C<:H>CI=:6K6>A67>A>INDG8DHID;;>C6C8>C<	HJ8=6HDJGH:8JG>I>O:9;JC9>C<
HDJG8:HDGL6G:=DJH:;68>A>I>:H	IDHJEEDGII=:DG><>C6I>DCD;6JIDAD6CHG:8:>K67A:8DJA969K:GH:AN6;;:8IDJGG:HJAIHD;
DE:G6I>DCH!C699>I>DC	;>C6C8:8DBE6C>:H6G:=><=ANG:I>:H	6H9>H8JHH:9>CI=:G>H@;68IDGH
JC9:GI=:=:69>C<	X*>H@H*:A6I:9ID$:<6A	*:6C8:%6II:GHY
&7@8@&39/A32A< 35/9&35B9/A/9:/4-9:'4*'8*9)5;2*'*<+89+2?/36'):5;8(;9/4+998+9;2:95,56+8':/549
,/4'4)/'2)54*/:/54)'9.,25='4*68596+):9
DC8:GCHDK:GI=:ADC<
I:GB>BE68IHD;8A>B6I:8=6C<:=6K:A:96C9L>AA8DCI>CJ:IDA:69IDC>I>6I>K:H
6>B:9IDB>I><6I:I=DH:>BE68IHDCHJB:GHB6N6AHD8=6C<:I=:>G7:=6K>DG6H6G:HJAID;I=:H:8DC8:GCH/:L>AAC::9ID
G:HEDC9IDC:LA6LH6C9G:DCH6HL:AA6H8DCHJB:GEG:;:G:C8:HG:HJAI>C<;GDB8A>B6I:8=6C<:8DC8:GCHL=>8=B6N
6;;:8IK:=>8A:B6CJ;68IJG:GHZ67>A>INIDEGD9J8:8DHI:;;:8I>K:K:=>8A:H$6LH6C9G:DCH:C68I:9I=6I9>G:8IANDG
>C9>G:8IAN6;;:8IK:=>8A:B6CJ;68IJG:GHI=GDJ<=6C>C8G:6H:>CI=:8DHID;EGD9J8I>DCDGI=:>G67>A>INIDEGD9J8:H6I>H;68IDGN
EGD9J8IHDGDJG7JH>C:HHI=GDJ<=6C>BE68IDCDJG>CK:CIDGN6K6>A67>A>IN	8DHID;H6A:H	DE:G6I>DCH	DG9:B6C9;DGI=:
EGD9J8IHL:H:AA8DJA9B6I:G>6AAN69K:GH:AN>BE68IDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	86H=;ADL	6C9
EGDHE:8IH
!C699>I>DC	K:=>8A:B6CJ;68IJG:GH6G:HJ7?:8IIDHH>DCHI6C96G9H	L=>8=8DCI>CJ:ID8=6C<:6C97:8DB:BDG:HIG>C<:CIDK:GI>B:+>;>86CI>C8G:6H:H>C;J:A:8DCDBN
G:FJ>G:B:CIHDGC:L;:9:G6ADGHI6I:G:HIG>8I>DCHDC:B>HH>DCHD;86G7DC9>DM>9:I=6IB6N7:>BEDH:9DCK:=>8A:H6C9
6JIDBD7>A:;J:AH8DJA969K:GH:AN6;;:8I9:B6C9;DGK:=>8A:H	6CCJ6AB>A:H9G>K:C	DGI=:EGD9J8IHL:H:AA
"+'8+9;(0+)::54;3+85;92+-'2'4*'*3/4/9:8':/<+685)++*/4-9=./)./,:.+5;:)53+9'8+'*<+89+:5;9)5;2*
3':+8/'22?'*<+89+2?',,+):5;8(;9/4+998+9;2:95,56+8':/549,/4'4)/'2)54*/:/54)'9.,25=9'4*68596+):9
/:6G:>CKDAK:9	6C9L>AA8DCI>CJ:ID7:>CKDAK:9	>CCJB:GDJHA:<6AEGD8::9>CH>C<DJID;I=:8DC9J8ID;DJG
7JH>C:HH	>C8AJ9>C<A>I><6I>DCL>I=8JHIDB:GH	L6<:6C9=DJG6C9DI=:G:BEADNB:CI
G:A6I:9A6LHJ>IH	6C968I>DCH7GDJ<=I7N
I>:H+DB:D;I=:H:A6LHJ>IHEJGEDGIDGB6N7:9:I:GB>C:9ID7:8A6HHDG8DAA:8I>K:68I>DCH6C9H::@
HJ7HI6CI>6A96B6<:HDG>C?JC8I>K:G:A>:;	DG7DI=	6C9HDB:B6NG:B6>CJCG:HDAK:9;DGH:K:G6AN:6GH,=:G:HJAIHD;I=:H:
B6II:GH86CCDI7:EG:9>8I:9L>I=8:GI6>CIN	6C96CJC;6KDG67A:G:HDAJI>DCD;DC:DGBDG:D;I=:H:B6II:GH8DJA9=6K:6
B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	86H=;ADLH	6C9EGDHE:8IH
;856+8':/549'8+9;(0+)::5+>:+49/<+-5<+843+4:'22'=9'4*8+-;2':/549,=+'8+,5;4*:5(+/46;8658:+*K:G:I6>A6C9;>C6C8:>C9JHIGN	>C8AJ9>C<DJG;68>A>I>:H6C9DE:G6I>DCH	>HHJ7?:8IID6L>9:G6C<:D;;:9:G6A	
HI6I:	6C9AD86AA6LH6C9G:DCH	HJ8=6HI=DH:G:A6I>C<IDBDIDGK:=>8A:H6A:H	G:I6>A>CHI6AAB:CIH6A:H	A:6H>C<	;>C6C8:6C9
>CHJG6C8:EGD9J8IH	>C9>G:8I6JID;>C6C8>C<	DG><>C6I>DC6C9H:GK>8>C<D;8DCHJB:G6JID;>C6C8:AD6CH	K:=>8A:EGDI:8I>DC
EGD9J8IH	69K:GI>H>C<	A>8:CH>C<	8DCHJB:GEGDI:8I>DC	8DCHJB:GEG>K68N	:H8=:6IB:CI	6CI>
BDC:NA6JC9:G>C<	I=:
:CK>GDCB:CI	K:=>8A::B>HH>DCH6C9;J:A:8DCDBN	=:6AI=6C9H6;:IN	6C9:BEADNB:CIEG68I>8:H/>I=G:HE:8IIDBDIDG
K:=>8A:H6A:H	G:I6>A>CHI6AAB:CIH6A:H	A:6H>C<	;>C6C8:6C9>CHJG6C8:EGD9J8IH	K:=>8A:EGDI:8I>DCEGD9J8IH	6C969K:GI>H>C<	
L:6G:HJ7?:8IIDK6G>DJHA6LH6C9G:DCH	I=:K>DA6I>DCD;L=>8=8DJA9HJ7?:8IJHID8DCHJB:G8A6HH68I>DCDGDI=:G


A6LHJ>IHDGCK:HI><6I>DCH6C969K:GH:EJ7A>8>IN	>C699>I>DCID69B>C>HIG6I>K:	8>K>A	DG8G>B>C6AH6C8I>DCH/>I=
G:HE:8IIDDJG>C9>G:8I6JID;>C6C8>C<6C9DG><>C6I>DC6C9H:GK>8>C<D;8DCHJB:G6JID;>C6C8:AD6CHI=GDJ<=DJG86EI>K:6JID
;>C6C8:8DBE6CN	L:6G:HJ7?:8IID:MI:CH>K:DCHG:A6I>C<ID;>C6C8:8DBE6C>:HI=6I8DJA9
HJ7?:8IJHIDG:DCH	>C8AJ9>C<8DCH:CIDG9:GHDGH>B>A6GDG9:GHL=:G:L:B6N7:G:FJ>G:9IDG:K>H:
I=:EG68I>8:HD;DJG86EI>K:6JID;>C6C8:8DBE6CN	G:BJC:G6I:8JHIDB:GH	DGE6N;>C:H!C699>I>DC	6HI=:6HH>DJHANDG><>C6I:97NI=>G9
E6GIN9:6A:GHEG>DGID'8ID7:G
	DJG86EI>K:6JID;>C6C8:8DBE6CN8DJA9
7:C6B:96H68D
9:;:C96CI>CA>I><6I>DC>C>I>6I:97N8DCHJB:GHEG>B6G>AN6<6>CHI6HE:8>;>89:6A:G'JG86EI>K:6JID;>C6C8:
8DBE6CNB6N6AHD7:>CKDAK:9>CA>I><6I>DCL>I=9:6A:GHDGDI=:GI=>G9
E6GINH:GK>8:EGDK>9:GH	L=>8=8DJA9B6I:G>6AAN
69K:GH:AN>BE68IDJG7JH>C:HH	DE:G6I>C<G:HJAIH	6C9EGDHE:8IH/>I=G:HE:8IID:BEADNB:CIEG68I>8:H	L:6G:HJ7?:8IID
K6G>DJHA6LH6C9G:DCH	>C8AJ9>C<8DBEA:M;:9:G6A	HI6I:	6C9AD86AL6<:6C9=DJG6C96CI>
9>H8G>B>C6I>DCA6LH/:6G:
6AHDHJ7?:8IIDA6LHJ>IH6C9CK:HI><6I>DCH6AA:<>C<K>DA6I>DCHD;I=:H:A6LH6C9G:DCH	>C8AJ9>C<EJGEDGI:9
8A6HH68I>DCA6LHJ>IH	L=>8=8DJA9G:HJAI>CH>;>86CIA>67>A>IN	;>C:H	6C9E:C6AI>:H+::I=:G>H@;68IDGX!.!/1&!00+
*1)!.+1/(!#(*  )%*%/0.0%2!,.+!! %*#/3$%$%"0$!+10+)!/.! 2!./!0+1/+1( )0!.%((5 2!./!(5""!0
+1.1/%*!//.!/1(0/+"+,!.0%+*/"%**%(+* %0%+*/$"(+3/* ,.+/,!0/Y67DK:,=:K>DA6I>DCD;DI=:GA6LH6C9
G:DCHIDL=>8=L:6G:HJ7?:8I6AHD86CG:HJAI>C69B>C>HIG6I>K:	8>K>A	DG8G>B>C6AH6C8I>DCH6<6>CHIJH	L=>8=B6N
>C8AJ9:68:6H:6C99:H>HIDG9:G6<6>CHII=:HJ7?:8IDE:G6I>DCHDG:K:CG:KD86I>DCDGHJHE:CH>DCD;DJGA>8:CH:IDDE:G6I:I=:
HJ7?:8I7JH>C:HH	6HL:AA6HH>;>86CI;>C:H6C9E:C6AI>:H/:8JGG:CIAN9:KDI:H>;>86CIG:HDJG8:HID8DBEANL>I=
6EEA>867A:;:9:G6A	HI6I:	6C9AD86AG:DCD;=:6AI=	H6;:IN	:CK>GDCB:CI6A	ODC>C<	6C9A6C9JH:G:DCH	6C9L:B6N
C::9IDHE:C9699>I>DC6AI>B:	:;;DGI	6C9BDC:NID@::EDJGDE:G6I>DCH6C9:M>HI>C<DG68FJ>G:9;68>A>I>:H>C8DBEA>6C8:
I=:G:L>I=!C699>I>DC	L:B6N7:HJ7?:8IID7GD69A>67>A>I>:H6G>H>C<DJID;8DCI6B>C6I>DC6IDJG8JGG:CIAN6C9;DGB:GANDLC:9
DGDE:G6I:9;68>A>I>:H	6IAD86I>DCHIDL=>8==6O6G9DJHHJ7HI6C8:HL:G:IG6CHEDGI:9;GDBHJ8=;68>A>I>:H	6C96IHJ8=AD86I>DCH
G:A6I:9ID:CI>I>:H;DGB:GAN6;;>A>6I:9L>I=JHAI=DJ<=;DGHDB:HJ8=A>67>A>I>:HL:7:A>:K:L:6G::CI>IA:9ID>C9:BC>;>86I>DC
;GDBDI=:G:CI>I>:H	L:86CCDI6HHJG:NDJI=6IHJ8=:CI>I>:HL>AAK>:LI=:>GD7A><6I>DCH6HL:9DDGL>AA7:67A:IDH6I>H;NI=:B
6>AJG:ID8DBEANL>I=6EEA>867A:A6LH6C9G:DCHDGI=:JC;6KDG67A:G:HDAJI>DCD;DC:DGBDG:A6LHJ>IH	G:DCH	DGCK:HI><6I>DCHB6N=6K:6C69K:GH::;;:8IDCDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	
;>C6C8>6A8DC9>I>DC	86H=;ADLH	6C9EGDHE:8IH
,=:D99
G6C@8I:HI67A>H=:9I=:(	6C>C9:E:C9:CI;:9:G6A6<:C8N;JC9:97NI=:-C>I:9+I6I:H:9:G6A*:H:GK:
L>I=7GD69G:B>I:9DK:GH><=I;GDBI=:-C>I:9+I6I:HDCK:9:6A:GH6G:
<:C:G6AAN:M8AJ9:9;GDBI=:D99
G6C@8I	I=:(8DJA9:C<6<:>C699>I>DC6A	>C9>G:8IG:DCD;6JIDBDI>K:9:6A:GH	
>CE6GI>8JA6G	I=:>GH6A:6C9B6G@:I>C<D;;>C6C8:6C9>CHJG6C8:EGD9J8IH	I=GDJ<=>IHG:DCD;6JIDBDI>K:;>C6C8:
8DBE6C>:H6C9DI=:G;>C6C8>6A>CHI>IJI>DCHJGI=:G	I=:(=6HHJE:GK>HDGN6JI=DG>INDK:G8:GI6>CCDC
76C@A:C9:GH	
>C8AJ9>C<6JIDBDI>K:;>C6C8:8DBE6C>:H	HJ8=6HDJG86EI>K:6JID;>C6C8:8DBE6CN,=:(86CJH:I=>H6JI=DG>INID
8DC9J8IHJE:GK>HDGN:M6B>C6I>DCHDG>C>I>6I::C;DG8:B:CI68I>DCH6C9DGA>I><6I>DCID:CHJG:8DBEA>6C8:L>I=K6G>DJH;:9:G6A
8DCHJB:GEGDI:8I>DCA6LH,=:(	DI=:G;:9:G6A6<:C8>:H	HI6I:I>:H	6C9>C9>K>9J6AH8DJA96HH:GI
8A6>BH6G>H>C<DJID;68IJ6ADG6AA:<:9K>DA6I>DCHD;A6L	L=>8=8DJA9:MEDH:JHIDH>;>86CI96B6<:HDGDI=:GE:C6AI>:H	
>C8AJ9>C<G:KD86I>DCDGHJHE:CH>DCD;I=:A>8:CH:HC:8:HH6GNID8DC9J8I7JH>C:HH6C9;>C:H	>C699>I>DCID69K:GH:EJ7A>8>IN
,=:D99
G6C@8I6AHDEGDK>9:9I=:,L>I=C:L6C9:ME6C9:96JI=DG>ING:<6G9>C<6JIDBDI>K:9:6A:GH	6C9I=:,
=6H>BEA:B:CI:96C:C;DG8:B:CI>C>I>6I>K:G:A6I>C<IDI=:69K:GI>H>C<EG68I>8:HD;6JIDBDI>K:9:6A:GH!C"6CJ6GN
	I=:
,EJ7A>H=:9I=:DB76I>C<JID*:I6>A+86BH>C6A*JA:X*+*JA:Y	L=>8=EGD=>7>IH8:GI6>C6JIDBDI>K:H6A:H6C9
B6G@:I>C<EG68I>8:H6C9:HI67A>H=:HH>;>86CIC:L9:6A:G9>H8ADHJG:6C9G:8DG9
@::E>C<G:FJ>G:B:CIH7GD69AN6EEA>867A:
I=GDJ<=DJII=:86G
7JN>C<EGD8:HH,=:>;I=>G8J>IDJGID;EE:6AH=6HG:8:CIANK686I:9I=:*+*JA:DCEGD8:9JG6A
C<DGI6@:DI=:G68I>DCHIDG:>HHJ:I=:*+*JA:>C6B6CC:GI=6I8DC;DGBHL>I=
I=:>;I=>G8J>IZH?J9B6I:AN7:8DB:H:;;:8I>K:DGI=6IHI6I:H:C68IH>B>A6G
G:FJ>G:B:CIH	L:B6N7:HJ7?:8IIDC:L69B>C>HIG6I>K:7JG9:CHI=6ILDJA9A>@:AN>C8G:6H:DJG8DHIH6C98DJA9:MEDH:JHID
H>;>86CI96B6<:H	DI=:GE:C6AI>:H	6C9DG69K:GH:EJ7A>8>IN
*:DC;GDBI=:(	DI=:G;:9:G6A6<:C8>:H	DGHI6I:6<:C8>:H8DJA9A:69IDH>;>86CI8=6C<:H>CI=:B6CC:GI=6I
9:6A:GH6G:8DBE:CH6I:9;DG6GG6C<>C<8JHIDB:G;>C6C8>C<	6C9L=>A:>I>H9>;;>8JAIIDEG:9>8I=DL6CNHJ8=8=6C<:HB><=I
>BE68IJH	6CN69K:GH:8=6C<:H8DJA9=6K:6B6I:G>6A69K:GH:>BE68IDCDJG;>C6C8:6C9>CHJG6C8:7JH>C:HH6C9G:HJAIHD;
DE:G6I>DCH


&7@8@&39/A32A<F03?@31B?7AF
"+ *+6+4* 54 /4,583':/54 :+).4525-? ,58 5;8 (;9/4+99 '4* '8+ 9;(0+): :5 8/919 8+2':+* :5 )?(+89+);8/:? :.8+':9 '4*
/4)/*+4:9/4)2;*/4-:.59+',,+):/4-5;8:./8*6'8:?9;662/+89'4*5:.+89+8C:HH>H9:E:C9:CIJEDCI=::;;>8>:CIDE:G6I>DCD;DJG>C;DGB6I>DCHNHI:BH/:G:ANDCDJG>C;DGB6I>DCHNHI:BHID
B6C6<:	6BDC<DI=:GI=>CCK:CIDGN	6C9H:GK>8::;;DGIH	>C8AJ9>C<I=GDJ<=DJG9><>I6A8=6CC:AH	6C98JHIDB:G
>C;DGB6I>DC	6HL:AA6HIDEG:E6G:DJG8DCHDA>96I:9;>C6C8>6A6C9DE:G6I>C<96I6,=:;6>AJG:D;DJG>C;DGB6I>DCHNHI:BHID
E:G;DGB6H9:H>AJG:IDB6>CI6>C6C9:C=6C8:DGEGDI:8II=:>CI:IND;I=:H:HNHI:BH8DJA99>HGJEIDJG7JH>C:HH
DE:G6I>DCH	>BE68IH6A:H6C9G:HJAIHD;DE:G6I>DCH	:MEDH:JHID8JHIDB:GDGI=>G9
E6GIN8A6>BH	DGG:HJAI>C69K:GH:EJ7A>8>IN
99>I>DC6AAN	L:8DAA:8I	EGD8:HH	6C9G:I6>CH:CH>I>K:6C98DC;>9:CI>6A8JHIDB:G>C;DGB6I>DC>CI=:CDGB6A8DJGH:D;DJG
7JH>C:HH'JG;68>A>I>:H6C9HNHI:BH8DJA9:ME:G>:C8:H:8JG>IN7G:68=:H	B6A>8>DJHHD;IL6G:B6AL6G:	G6CHDBL6G:	6C9
K>GJH:H	ADHIDGB>HEA68:996I6	EGDC<:GGDGH	=JB6C:GGDGH	68IHD;K6C96A>HB	DGDI=:G:K:CIHDG:M6BEA:	H:K:G6A
L:AA
@CDLCG:I6>A:GH6C9DI=:GA6G<:8DBE6C>:H=6K:9>H8ADH:9=><=
EGD;>A:H:8JG>IN7G:68=:H>CKDAK>C<HDE=>HI>86I:96C9
=><=ANI6G<:I:96II68@HDCI=:>G8DBE6CNZH>C;G6HIGJ8IJG:DGI=:>G8JHIDB:GHZ96I6	L=>8=L:G:CDIG:8DO:9DG9:I:8I:9JCI>A
6;I:GHJ8=G:I6>A:GH=697::C6;;:8I:9CDIL>I=HI6C9>C<I=:EG:K:CI6I>K:B:6HJG:HHJ8=G:I6>A:GH=69>CEA68:
!C699>I>DC	L:G:ANDCI=>G9
E6GINH:GK>8:EGDK>9:GHIDHJEEDGIDJGDE:G6I>DCH	>C8AJ9>C<#	I=:EGDK>9:GD;DJG%+
,=:H:I=>G9
E6GINH:GK>8:EGDK>9:GH	L>I=L=DBL:B6NH=6G:96I6	6G:HJ7?:8IIDH>B>A6GG>H@H6HL:6G:G:A6I>C<ID
8N7:GH:8JG>IN	EG>K68NK>DA6I>DCH	7JH>C:HH>CI:GGJEI>DC	6C9HNHI:BH	6HL:AA6H:BEADN::;6>AJG:H/:9DCDI=6K:8DCIGDA
DK:GI=>G9
E6GINH:GK>8:EGDK>9:GHZ7JH>C:HHDE:G6I>DCH	6C8:HNHI:BH	EG68I>8:H	6C9EGD8:9JG:H	6C9
B6C6<:B:CID;BJAI>EA:I=>G9
E6GINH:GK>8:EGDK>9:GH>C8G:6H:HDJGDE:G6I>DC6A8DBEA:M>IN,=>G9
E6GI>:HZH:GK>8:H=6K:7::C
6C9B6N>CI=:;JIJG:7:>CI:GGJEI:9	9>H67A:9	HJ7
HI6C96G9	DGDI=:GL>H:9:;>8>:CI	>C8AJ9>C<6H6G:HJAID;68N7:GH:8JG>IN
>C8>9:CI	6C9L:=6K:>CI=:E6HI>C8JGG:9	6C9B6N>CI=:;JIJG:>C8JG	699>I>DC6A8DHIH6H6G:HJAI	>C8AJ9>C<9>HGJEI>DCIDDJG
>C;DGB6I>DCHNHI:BH6C97JH>C:HHDE:G6I>DCH6C9G:EJI6I>DC6A=6GBDG:M6BEA:	>C"JC:
	L:L:G:CDI>;>:97N#
I=6I>IL6H:ME:G>:C8>C<68N7:G>C8>9:CI>BE68I>C<>IHHNHI:BH	>C8AJ9>C<I=:HNHI:BHC:8:HH6GNIDHJEEDGIDJG%+	L=>8=
HJEEDGIHDJG9:6A:GH=>EDE:G6I>DCH	>C8AJ9>C<DJGH6A:H	H:GK>8:	>CK:CIDGN	8JHIDB:GG:A6I>DCH=>EB6C6<:B:CI	6C9
688DJCI>C<;JC8I>DCHXDG:JC8I>DCHY,=:>C8>9:CIG:HJAI:9>CDJI6<:HD;DJG%+6C9DG:JC8I>DCHI=:X#
DJI6<:Y	86JH>C<9>HGJEI>DC6C969K:GH:>BE68IHIDDJG7JH>C:HH	>C8AJ9>C<DJGEGD9J8I>K>IN88:HHIDDJG%+6C9DG:
JC8I>DCHL6HG:HIDG:97NI=::C9D;"JC:
:GI6>C6C8>AA6GNHNHI:BH6C9>CI:DCH	HJ8=6HI=DH:I=6I=:AE6JIDB6I:
DG9:G>C<	H8=:9JA>C<	E6NB:CI	H6A:H	6C9G:EDGI>C<EGD8:HH:H	L:G:G:HIDG:97NI=::C9D;"JANL>I=G:H>9J6A>BE68IHG:HDAK:9
7NI=::C9D;I=:I=>G9FJ6GI:G
+::X*:HJAIHD;'E:G6I>DCHY>C(6GI!!	!I:BD;I=>HDGB
#;DG69>H8JHH>DCDCI=:
;>C6C8>6A>BE68ID;I=:#DJI6<:IDDJG
G:HJAIH
JIJG:8N7:GH:8JG>IN>C8>9:CIHDGDI=:G:K:CIH>CKDAK>C<DJG>C;DGB6I>DCI:8=CDADG9
E6GIN
H:GK>8:EGDK>9:GHB6N9>HGJEIDJG>C;DGB6I>DCHNHI:BH6C97JH>C:HHDE:G6I>DCH	G:HJAI>CI=:I=:;I	B>H6EEGDEG>6I>DC	ADHH	DG
DI=:GJC6JI=DG>O:99>H8ADHJG:D;8DC;>9:CI>6A>C;DGB6I>DC	96B6<:DJGG:EJI6I>DC	:MEDH:JHIDI=:G>H@HD;A>I><6I>DC6C9
A>67>A>IN	DGG:9J8:DJG8JHIDB:GHZL>AA>CC:HHL>I=JH	L=>8=8DJA969K:GH:AN6;;:8IDJG7JH>C:HH	;>C6C8>6A
8DC9>I>DC	6C9G:HJAIHD;DE:G6I>DCH
&7@8@&39/A7;5A<I6C<DJGG:KDAK>C<8G:9>I;68>A>IN6C9I=:>C9:CIJG:HG:A6I>C<IDDJGH:C>DGJCH:8JG:9CDI:H
8DCI6>C8DK:C6CIHI=6IA>B>II=:9>H8G:I>DCD;DJGB6C6<:B:CIL>I=G:HE:8IIDK6G>DJH7JH>C:HHB6II:GH,=:H:8DK:C6CIHEA68:
G:HIG>8I>DCHDC	6BDC<DI=:GI=>CA>INID>C8JG699>I>DC6A>C9:7I:9C:HH	ID8G:6I:A>:CHDGDI=:G:C8JB7G6C8:H	ID
B6@:>CK:HIB:CIH	6C9IDH:AADGDI=:GL>H:9>HEDH:D;6HH:IH6C9IDB:G<:DG8DCHDA>96I:L>I=DI=:G:CI>I>:H;6>AJG:7NJHID
8DBEANL>I=I=:D7A><6I>DCH8DCI6>C:9>C6CND;DJG9:7I6C6C:K:CID;9:;6JAI	L=>8=8DJA9E:GB>I
688:A:G6I>DCD;I=:G:A6I:99:7I6HL:AA6H688:A:G6I>DCD;9:7IJC9:GDI=:G9:7I6C8GDHH
688:A:G6I>DCDG
8GDHH
9:;6JAIEGDK>H>DCH!;6CN9:7I>H688:A:G6I:9	DJGA>FJ>96HH:IHB6NCDI7:HJ;;>8>:CIIDG:E6N>C;JAAHJ8=>C9:7I:9C:HH


6C9DJGDI=:G>C9:7I:9C:HH99>I>DC6AAN	L:=6K:CB6CJ;68IJG:GHI=:G><=IID68FJ>G:	6I;6>GB6G@:IK6AJ:	DJG
6JIDBDI>K:HIDG:H;G6C8=>H:97NI=DH:B6CJ;68IJG:GH>CHE:8>;>:98>G8JBHI6C8:H>CI=::K:CID;DJG9:;6JAIJC9:GDJG9:7I
6I6G:9IDG:B6>C>C8DBEA>6C8:L>I=6B6M>BJBA:K:G6<:G6I>D6C96B>C>BJB
>CI:G:HI8DK:G6<:G6I>D+::X$>FJ>9>IN6C96E>I6A*:HDJG8:HW*:HIG>8I>DCH6C9DK:C6CIHY>C(6GI!!	!I:BD;I=>HDGB

#!;DJG:6GC>CC:	L:B6N7:JC67A:ID8DBEANL>I=I=:;>C6C8>6AG6I>DHG:FJ>G:97NDJG8G:9>I6K:GD;68DK:C6CID;DJG8G:9>I69:GDI=:GDEI>DCH	HJ8=6HG6>H>C<
86E>I6AI=GDJ<=6C:FJ>IN>HHJ6C8:IDE6N9DLC9:7I	L=>8=8DJA97:9>AJI>K:IDHID8@=DA9:GH,=:G:86C7:CD6HHJG6C8:I=6I
DJGA:C9:GHLDJA96K:GD;68DK:C6CID;DJG8G:9>I6C6C
6B:C9B:CIDGL6>K:GD;68DK:C6CID;DJG8G:9>I6@:AN>C8JG699>I>DC6A;::H6C9=><=:G>CI:G:HI
:ME:CH:
HD;:8:B7:G	
	L:=697>AA>DCD;IDI6ACDC
K:=>8A:ADC<
I:GB9:7I	7>AA>DCD;K:=>8A:;ADDGEA6C
;>C6C8>C<	6C9
B>AA>DCD;CDC
G:8DJGH:9:7IJC9:GDJGL6G:=DJH:;68>A>I>:H'JGHJ7HI6CI>6A>C9:7I:9C:HH8DJA9=6K:
>BEDGI6CI8DCH:FJ:C8:HDG:M6BEA:
Q
/:B6N=6K:9>;;>8JAINH6I>H;N>C<DJG9:7IH:GK>8:D7A><6I>DCH6C9	>;L:;6>AID8DBEANL>I=I=:H:G:FJ>G:B:CIH	6C
:K:CID;9:;6JAI8DJA9G:HJAI
Q
/:B6N7:G:FJ>G:9ID9:9>86I:6HJ7HI6CI>6AEDGI>DCD;DJG86H=;ADL;GDBDE:G6I>DCHIDB6@:G:FJ>G:9E6NB:CIH
DC>C9:7I:9C:HH	I=:G:7NG:9J8>C<I=:6K6>A67>A>IND;86H=;ADL;DGLDG@>C<86E>I6A	86E>I6A:ME:C9>IJG:H	
68FJ>H>I>DCH	HIG6I:<>8>C>I>6I>K:H	>CK:HIB:CIH	6C9DI=:G<:C:G6A8DGEDG6I:68I>K>I>:H
Q
9DLCCDJG8G:9>IG6I>CK:AN>BE68II=:>CI:G:HIG6I:E6N67A:DC8:GI6>CD;DJGH:C>DGCDI:H6C9
8DJA9C:<6I>K:AN>BE68IDJG67>A>INID>HHJ:	DGI=:>CI:G:HIG6I:H;DG	8DBB:G8>6AE6E:GCDI:H
Q
DK:C6CIHG:A6I>C<IDDJG>C9:7I:9C:HHB6NA>B>IDJG67>A>INIDD7I6>C;>C6C8>C<;DGLDG@>C<86E>I6A	86E>I6A
:ME:C9>IJG:H	68FJ>H>I>DCH	>CK:HIB:CIH	DG><>C6I>C<6JIDAD6CHG:8:>K67A:	6C9DI=:G<:C:G6A8DGEDG6I:68I>K>I>:H
Q
DK:C6CIHG:A6I>C<IDDJG>C9:7I:9C:HHB6NA>B>IDJG;A:M>7>A>IN>CEA6CC>C<;DG	DGG:68I>C<ID	8=6C<:H>CDJG
7JH>C:HH6C9I=:>C9JHIGN>CL=>8=L:DE:G6I:
Q
/:B6N7:BDG:KJAC:G67A:IDI=:>BE68ID;:8DCDB>89DLCIJGCH6C969K:GH:9:K:ADEB:CIH>CDJG7JH>C:HH
Q
/:B6N7:EA68:96I68DBE:I>I>K:9>H69K6CI6<:6<6>CHI6CNA:HHA:K:G6<:98DBE:I>IDGH
Q
'JGK6G>67A:>CI:G:HIG6I:9:7IL>AA;AJ8IJ6I:L>I=8=6C<>C<B6G@:I8DC9>I>DCH6C9	688DG9>CCI:G:HI:ME:CH:
L>AA>C8G:6H:>;>CI:G:HIG6I:HG>H:
Q
C>C8G:6H:>CDJGA:K:G6<:G6I>D8DJA9C:<6I>K:AN>BE68II=:6EEA>867A:B6G<>CHDC>CI:G:HIG6I:H8=6G<:9;DG
7DGGDL>CC<8G:9>I;68>A>IN6C9
Q
JIJG:H=6G:G:EJG8=6H:HB6N7:A>B>I:97NI=:B6M>BJBA:K:G6<:G6I>D6C9DGB>C>BJB>CI:G:HI8DK:G6<:G6I>D
9:H8G>7:967DK:
,=:D88JGG:C8:D;6CNDC:D;I=:H::K:CIH8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	;>C6C8>6A8DC9>I>DC	
G:HJAIHD;DE:G6I>DCH	EGDHE:8IH	6C967>A>INIDH6I>H;NDJG9:7IH:GK>8:D7A><6I>DCH
"+'8+9;(0+)::5/4:+8+9:8':+8/91/4)544+):/54=/:.5;8<+./)2+,255862'46'?'(2+98+<528A:;ADDGEA6CE6N67A:H	G:KDAK>C<8G:9>I;68>A>IN	6C9L6G:=DJH:;68>A>I>:H6G:HJ7?:8IIDK6G>67A:>CI:G:HIG6I:H	6C9
I=:>CI:G:HIG6I:;DGDJG8DBB:G8>6AE6E:GCDI:HK6G>:H76H:9DC9JG6I>DC6C9B6G@:I8DC9>I>DCH88DG9>CCI:G:HI
:ME:CH:L>AA;AJ8IJ6I:L>I=8=6C<>C<B6G@:I8DC9>I>DCH6C9L>AA>C8G:6H:>;>CI:G:HIG6I:HG>H:!CHI67>A>INDG9>HGJEI>DCHD;I=:
86E>I6AB6G@:IH	>C8AJ9>C<8G:9>IB6G@:IH	DGI=:9:I:G>DG6I>DCD;DJG;>C6C8>6A8DC9>I>DC9J:ID>CI:GC6ADG:MI:GC6A;68IDGH	
8DJA9G:HIG>8IDGEGD=>7>IDJG688:HHID86E>I6AB6G@:IH6C9>C8G:6H:DJG;>C6C8>C<8DHIH!C699>I>DC	DJGC:IC:LK:=>8A:
>CK:CIDGN86GGN>C<:ME:CH:C:LK:=>8A:;ADDGEA6C>CI:G:HI:ME:CH:C:ID;;ADDGEA6C6HH>HI6C8:I=6IL:G:8:>K:;GDB


6JIDBDI>K:B6CJ;68IJG:GHB6N>C8G:6H:9J:ID8=6C<:H>C>CI:G:HIG6I:H	>CK:CIDGNA:K:AH	6C9B6CJ;68IJG:G6HH>HI6C8:/:
86CCDI6HHJG:NDJI=6I6H>;>86CI>C8G:6H:>C>CI:G:HIG6I:HDG>CK:CIDGNA:K:AHDG9:8G:6H:>CB6CJ;68IJG:G;ADDGEA6C
6HH>HI6C8:LDJA9CDI=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	DG86H=;ADLH
&7@8@&39/A7;5A<11AA6C9>C9:;>C>I:
A>K:9>CI6C<>7A:6HH:IH6G:HJ7?:8IID>BE6>GB:CI6HH:HHB:CIH6IA:6HI6CCJ6AANDGBDG:;G:FJ:CIAN
L=:C:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I6C>BE6>GB:CIB6N=6K:D88JGG:97N6EEAN>C<6;6>G
K6AJ:76H:9I:HI
'JGEG>C8>E6A>CI6C<>7A:6HH:IH6G:AA6C9DJGG><=IHJC9:GDJG;G6C8=>H:6I=K:=>8A:B6CJ;68IJG:GH
9:8G:6H:>CDJGB6G@:I86E>I6A>O6I>DCDGEGD;>I67>A>IN>C8G:6H:HI=:G>H@D;AA>BE6>GB:CI&:<6I>K:DG9:8A>C>C<86H=
;ADLHDG69:8A>C:>C68IJ6ADGEA6CC:9G:K:CJ:H;DGDJGHIDG:H>C8G:6H:HI=:G>H@D;;G6C8=>H:G><=IH>BE6>GB:CIC
>BE6>GB:CIADHH8DJA9=6K:6B6I:G>6A69K:GH:>BE68IDCDJGG:HJAIHD;DE:G6I>DCH6C9H=6G:=DA9:GHZ:FJ>INJG>C<
	L:
G:8DG9:9CDC
86H=>BE6>GB:CI8=6G<:HD;B>AA>DC6HHD8>6I:9L>I=;G6C8=>H:G><=IH6I8:GI6>CD;DJGHIDG:H+::&DI:
D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC
;83/458/:?+7;/:?/4<+9:3+4:9=/:.8+'*/2?*+:+83/4'(2+,'/8<'2;+9'8+8+7;/8+*:5(+3+'9;8+*':,'/8<'2;++').
8+658:/4-6+8/5*=./).)5;2*'*<+89+2?/36'):5;88+9;2:95,56+8':/549'4*,/4'4)/'2)54*/:/54.+)'88?/4-<'2;+95,
5;83/458/:?+7;/:?/4<+9:3+4:9:.':*545:.'<+8+'*/2?*+:+83/4'(2+,'/8<'2;+9'8+8+7;/8+*:5(+'*0;9:+*,58
5(9+8<'(2+68/)+).'4-+958/36'/83+4:9(5:.5,=./).)5;2*'*<+89+2?/36'):5;88+9;2:95,56+8':/549'4*,/4'4)/'2
)54*/:/54
'JGB>CDG>IN:FJ>IN>CK:HIB:CIHL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:H6G:G:FJ>G:9ID7:B:6HJG:96I;6>GK6AJ::68=
G:EDGI>C<E:G>D9=6C<:H>CI=:;6>GK6AJ:HD;I=:JC9:GAN>C<:FJ>INH:8JG>I>:H8DJA9G:HJAI>CJCG:6A>O:9<6>CHDGADHH:H
G:A6I:9IDI=:H:>CK:HIB:CIHB6I:G>6A9:8G:6H:>CI=:;6>GK6AJ:HD;I=:H::FJ>IN>CK:HIB:CIH8DJA969K:GH:AN>BE68IDJG
G:HJAIHD;DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DC
/:=6K::A:8I:9IDB:6HJG:DJGB>CDG>IN:FJ>IN>CK:HIB:CIHI=6I9DCDI=6K:G:69>AN9:I:GB>C67A:;6>GK6AJ:HJH>C<6
B:6HJG:B:CI6AI:GC6I>K:E:GB>II:97N688DJCI>C<HI6C96G9H	6C9L:G:8DG9:9I=:H::FJ>IN>CK:HIB:CIH6I8DHIID7:
HJ7H:FJ:CIAN69?JHI:9;DGD7H:GK67A:EG>8:8=6C<:HDG>BE6>GB:CI	>;6CN,=:G:B6N7:;JIJG:>HHJ6C8:HD;>9:CI>86ADG
H>B>A6G:FJ>INH:8JG>I>:H7NI=:H6B:>HHJ:GI=6ILDJA9G:HJAI>CD7H:GK67A:EG>8:8=6C<:HI=6I8DJA9G:HJAI>CJEL6G9DG
9DLCL6G969?JHIB:CIHIDI=:H::FJ>IN>CK:HIB:CIHB6I:G>6A9DLCL6G969?JHIB:CIIDDG>BE6>GB:CID;I=:H::FJ>IN
>CK:HIB:CIH8DJA969K:GH:AN>BE68IDJGG:HJAIHD;DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DCJG>C<
	L:>9:CI>;>:96C
D7H:GK67A:IG6CH68I>DC;DGI=:>HHJ6C8:D;H>B>A6G:FJ>INH:8JG>I>:HD;I=:H6B:>HHJ:GD;DC:D;DJG:FJ>IN>CK:HIB:CIH6C9
G:8DG9:969DLCL6G969?JHIB:CIIDI=>H:FJ>IN>CK:HIB:CID;B>AA>DC76H:9DCI=:D7H:GK67A:EG>8:8=6C<:
&7@8@&39/A7;5A<+8:9;(9:'4:/'2/4,2;+4)+
5<+8'):/549:5(+:'1+458'6685<+*(?5;89:5)1.52*+894'**/:/54,;:;8+9.'8+8+6;8).'9+9'4*,2;):;':/549/4:.+
2+<+295,5=4+89./65,5;82'8-+9:9:5)1.52*+89)5;2*/36')::.+<52;3+5,:8'*/4-2/7;/*/:?'4*3'81+:68/)+5,5;8
)533549:5)1
6H:9DC;>A>CI=I=:+I=GDJ<=:7GJ6GN	
	/>AA>6B 6I:H!!!7:C:;>8>6AANDLCH6EEGDM>B6I:AN
D;I=:DJIHI6C9>C<H=6G:HD;DJG8DBBDCHID8@	I=GDJ<==DA9>C8=
>HHDA:ANDLC:97N%G6I:HH6G:HJAI	6H869:B6N=6K:I=:67>A>INID:M:GIHJ7HI6CI>6A>C;AJ:C8:DK:G68I>DCHID7:I6@:C
DG6EEGDK:97NDJGHID8@=DA9:GH	>C8AJ9>C<I=::A:8I>DCD;9>G:8IDGH6C96CNIG6CH68I>DCH>CKDAK>C<68=6C<:D;8DCIGDA
6H:9DC;>A>CI=I=:+I=GDJ<=:7GJ6GN	
	+$!CK:HIB:CIH	!C8ID<:I=:GL>I=8:GI6>CD;>IH
>CK:HIB:CI6;;>A>6I:H8DAA:8I>K:AN	X+$Y7:C:;>8>6AANDLCH6EEGDM>B6I:AND;I=:DJIHI6C9>C<H=6G:HD;DJG8DBBDC
HID8@H6G:HJAI	+$B6N6AHD=6K:I=:67>A>INID:M:GIHJ7HI6CI>6A>C;AJ:C8:DK:G68I>DCHID7:I6@:CDG6EEGDK:97NDJG
HID8@=DA9:GH	>C8AJ9>C<I=::A:8I>DCD;9>G:8IDGH6C96CNIG6CH68I>DCH>CKDAK>C<68=6C<:D;8DCIGDA


!CI=:;JIJG:	DJGA6G<:HIHID8@=DA9:GHB6N68FJ>G:DG9>HEDH:D;H=6G:HD;DJG8DBBDCHID8@6C9I=:G:7N>C8G:6H:DG
9:8G:6H:I=:>GDLC:GH=>EHI6@:>CJH+>;>86CI;AJ8IJ6I>DCH>CI=:A:K:AHD;DLC:GH=>ED;DJGA6G<:HIHID8@=DA9:GH8DJA9
>BE68II=:KDAJB:D;IG69>C<	A>FJ>9>IN	6C9B6G@:IEG>8:D;DJG8DBBDCHID8@
!CI=:6<A>CI=I=:+I=GDJ<=:7GJ6GN	
	/>AA>6B 6I:H!!!6C9+$
7:C:;>8>6AANDLC6EEGDM>B6I:AND;DJGDJIHI6C9>C<H=6G:HJIJG:H=6G:G:EJG8=6H:H7NI=:DBE6CN	ID<:I=:GL>I=
6CN;JIJG:H=6G:EJG8=6H:H7NDJG6;;>A>6I:H	L>AAG:9J8:DJGXEJ7A>8;AD6IYH=6G:HDLC:97NCDC
6;;>A>6I:HID8@=DA9:GH6C9
6K6>A67A:;DGIG69>C<+J8=G:9J8I>DC>CDJGEJ7A>8;AD6I8DJA99:8G:6H:I=:KDAJB:D;IG69>C<6C9A>FJ>9>IND;DJG8DBBDC
HID8@	8DJA9A:69ID>C8G:6H:9KDA6I>A>IN>CI=:B6G@:IEG>8:D;DJG8DBBDCHID8@	DG8DJA969K:GH:AN>BE68II=:B6G@:IEG>8:
D;DJG8DBBDCHID8@
3;3?/9&7@8/1ACHI6I:H6C9G:<>DCH>CI=:-C>I:9+I6I:H	>C8AJ9>C<EG>B6G>ANADG>96	6A>;DGC>6	6C9,:M6H	
>CL=>8=68IJ6ADGI=G:6I:C:9C6IJG6A9>H6HI:GH6C9H:K:G:L:6I=:G:K:CIHHJ8=6H=6>AHIDGBH	=JGG>86C:H	:6GI=FJ6@:H	;>G:H	
IDGC69D:H	HCDLHIDGBH	6C9A6C9HA>9:HB6N9>HGJEIDJGHIDG:DE:G6I>DCH	L=>8=B6N69K:GH:AN>BE68IDJG7JH>C:HH	G:HJAIHD;
DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	6C986H=;ADLH,=::;;:8IHD;8A>B6I:8=6C<:B6NH:GK:6H6G>H@BJAI>EA>:G>C8G:6H>C<I=:
;G:FJ:C8N	H:K:G>IN	6C99JG6I>DCD;C6IJG6A9>H6HI:GH6C969K:GH:L:6I=:G:K:CIHI=6IB6N6;;:8IDJG7JH>C:HHDE:G6I>DCH!C
699>I>DCID7JH>C:HH>CI:GGJEI>DC	I=:6JIDBDI>K:G:I6>A7JH>C:HH>HHJ7?:8IIDHJ7HI6CI>6AG>H@D;EGDE:GINADHH9J:IDI=:
H>;>86CI8DC8:CIG6I>DCD;EGDE:GINK6AJ:H6IHIDG:AD86I>DCH
/:86CCDI6HHJG:NDJI=6IL:L>AACDI7::MEDH:9IDJC>CHJG:9DGJC9:G>CHJG:9ADHH:HI=6I8DJA9=6K:6B6I:G>6A69K:GH:
:;;:8IDCDJG7JH>C:HH	;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	DG86H=;ADLH!C699>I>DC	C6IJG6A9>H6HI:GH6C969K:GH:
L:6I=:G:K:CIH	>C8AJ9>C<I=::;;:8IHD;8A>B6I:8=6C<:	B6N69K:GH:AN>BE68IC:LK:=>8A:EGD9J8I>DC6C9I=:K:HJEEAN8=6>C	L=>8=>CIJGC8DJA9B6I:G>6AAN69K:GH:AN>BE68IDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	;>C6C8>6A
8DC9>I>DCH	6C986H=;ADLH
(!	 !
&DC:
(!	$
 $
%/'*#!)!*0* 0.0!#5
/:=6K:9:K:ADE:96C98DCI>CJ:ID:C=6C8:DJG8N7:GH:8JG>ININD;DJG
8DBEJI:GHNHI:BH	HD;IL6G:	C:ILDG@H	6C9DI=:GI:8=CDADCHIB6I:G>6AG>H@H;GDB8N7:GH:8JG>INI=G:6IH	
>C8AJ9>C<JC6JI=DG>O:96II:BEIHID688:HH8DC;>9:CI>6A>C;DGB6I>DCDGID9>HGJEIDG9:C:HHDE:G6I>DCH'JG
8N7:GH:8JG>INHHIG6I:<>86AAN>CI:CIDDJG7GD69:GG>H@B6C6<:B:CI;G6B:LDG@6C96>BHID
EGD68I>K:ANB6C6<:8N7:G6C9>C;DGB6I>DCH:8JG>ING>H@H6IJID&6I>DC	>BEA:B:CII=:>CI:GC6A8DCIGDAHG:FJ>G:97N
8N7:GH:8JG>ING:G:B:CIH6HL:AA6HJID&6I>DCZH>C;DGB6I>DCH:8JG>IN8DCIGDAD7?:8I>K:9D8JB:CIH6C9
>C;DGB6I>DCH:8JG>INHI6C96G9H	6C9>BEGDK:I=::;;>8>:C8N	B6IJG>IN	6C9:;;:8I>K:C:HHD;I:8=CDADDCH6C9
EGD8:HH:H
/:G:C<G>H@H6C9:K:G
8=6C<>C<A:<6A6C98DBEA>6C8:G:FJ>G:B:CIH6C9:M6B>C:I=:
:;;:8I>K:C:HH6C9B6IJG>IND;DJG8N7:G9:;:CH:HI=GDJ<=K6G>DJHB:6CH	>C8AJ9>C<>CI:GC6A6J9>IH	I6G<:I:9I:HI>C<	>C8>9:CI
G:HEDCH::M:G8>H:H	B6IJG>IN6HH:HHB:CIH	6C9>C9JHIGN7:C8=B6G@>C</:6AHD9:9>86I:H>;>86CIG:HDJG8:HI=6I6G:
9:H>9:CI>6A>C;DGB6I>DC	HJ8=6H;>G:L6AAH	:C9ED>CIEGDI:8I>DC	6C97:=6K>DG
6C6ANH>HIDDAH	6BDC<DI=:GH	6C9:C<6<:L>I=6G6C<:D;:MI:GC6A:ME:GIH	>C8AJ9>C<8N7:GH:8JG>IN6HH:HHDGH	8DCHJAI6CIH	6C9
6J9>IDGH>C:K6AJ6I>C<6C9I:HI>C<DJGG>H@B6C6<:B:CIHNHI:BH!C699>I>DC	L:6CCJ6AANE:G;DGB6G>H@6HH:HHB:CID;DJG
I=>G9
E6GINH:GK>8:EGDK>9:GH
,D96I:	G>H@H;GDB8N7:GH:8JG>INI=G:6IH=6K:CDIB6I:G>6AAN6;;:8I:9JH	6C9L:8JGG:CIAN9DCDI:ME:8II=6II=:G>H@H
;GDB8N7:GH:8JG>INI=G:6IH6G:G:6HDC67ANA>@:ANIDB6I:G>6AAN6;;:8IJH	>C8AJ9>C<DJG7JH>C:HHHIG6I:DCH	
DG;>C6C8>6A8DC9>I>DC:HE>I:DJG:;;DGIHID:CHJG:I=:>CI:IND;DJG8DBEJI:GHNHI:BH	HD;IL6G:	C:ILDG@H	6C9DI=:G


I:8=CDAD8>E6I:	9:I:8I	DGG:8DO:I=G:6IHIDDJGHNHI:BH6C96HH:IH	DGID>BEA:B:CI
:;;:8I>K:EG:K:CI>K:B:6HJG:H6<6>CHI6AA8N7:GI=G:6IH	:HE:8>6AAN7:86JH:I=:I:8=C>FJ:HJH:96G:>C8G:6H>CHI>86I:9	
8=6C<:;G:FJ:CIAN	6G:8DBEA:M	6C96G:D;I:CCDIG:8DO:9JCI>AA6JC8=:9+::I=:G>H@;68IDGX! !,!* +*%*"+.)0%+*
0!$*+(+#5"+.+1.1/%*!//* .!/1&!00+.%/'/.!(0! 0+5!./!1.%050$.!0/* %*% !*0/%*(1 %*#0$+/!""!0%*#
+1.0$%. ,.05/1,,(%!./* +0$!./!.2%!,.+2% !./
"%(1.!+"+1.%*"+.)0%+*/5/0!)/+.*55!./!1.%05.!$!/+.
1*10$+.%6!  %/(+/1.!+"+*"% !*0%(%*"+.)0%+*+1( $2!)0!.%( 2!./!!""!0+*+1.1/%*!// %/.1,0+1.
1/%*!//*  2!./!(5%),0+1..!,100%+** .!/1(0/+"+,!.0%+*/Y>C(6GI!	!I:BD;I=>HDGB
#
+2!.**!
'JGD6G9D;>G:8IDGH>H68JI:AN6L6G:D;I=:8G>I>86AC6IJG:D;B6C6<>C<G>H@H6HHD8>6I:9L>I=8N7:GH:8JG>INI=G:6IH6C9
DK:GH::HG>H@H6HHD8>6I:9L>I=8N7:GH:8JG>INI=G:6IH,=:D6G9ZHJ9>IDBB>II::>H8:CIG6AIDI=:D6G9ZHDK:GH><=ID;
8N7:GH:8JG>ING>H@H6C97:6GHI=:EG>B6GNG:HEDCH>7>A>IN;DGI=>H6G:6,=:J9>IDBB>II::>H8DBEDH:9D;>C9:E:C9:CI
9>G:8IDGHL>I=9>K:GH::ME:GI>H:	>C8AJ9>C<G>H@B6C6<:B:CI	I:8=CDADC6C8:	:FJ>EE>C<I=:BIDDK:GH::
8N7:GH:8JG>ING>H@H:;;:8I>K:AN
'JG=>:;!C;DGB6I>DC+:8JG>IN';;>8:GX!+'YEA6NH6E>KDI6AGDA:>C>C;DGB>C<I=:J9>IDBB>II::DC8N7:GH:8JG>IN
G>H@H :EGDK>9:H8DBEG:=:CH>K:7G>:;>CIDBB>II::DC6FJ6GI:GAN76H>HDGBDG:;G:FJ:CIAN6HC::9:9,=:H:
7G>:;>C8H	>C8AJ9>C<:B:G<>C<I=G:6IH	I=:HI6IJHD;DCC<8N7:GH:8JG>IN>C>I>6I>K:H	6C9
>C8>9:CIG:EDGIH6C9A:6GC>CIN:K:CIH,=:J9>IDBB>II::68I>K:ANE6GI>8>E6I:H6C9D;;:GH96C8:
>CHIG6I:<>89:8>H>DCHG:A6I:9ID8N7:GH:8JG>IN,=>H>CKDAK:B:CI=:AEH:CHJG:I=6I8N7:GH:8JG>IN8DCH>9:G6I>DCH6G:>CI:CIDDJG7GD69:GHIG6I:<>8D7?:8I>K:H
'JG!+'>HG:HEDCH>7A:;DG6HH:HH>C<	BDC>IDG>C<	6C9B6C6<>C<DJG8N7:GH:8JG>ING>H@H/>I=C:6GANI=G::9:869:HD;
:ME:G>:C8:>CI=:;>:A9D;8N7:GH:8JG>IN	>C8AJ9>C<:MI:CH>K::ME:G>:C8:6H6C:CI:GEG>H:!+'	=>H>C
9:EI=@CDLA:9<:6C9
:ME:G>:C8:6G:>CHIGJB:CI6A>C9:K:ADE>C<6C9:M:8JI>C<DJG8N7:GH:8JG>INHIG6I:<>:H'JG!+'DK:GH::HDJG8N7:GH:8JG>IN
6C8:L>I=6EEA>867A:HI6C96G9H	G:B:9>6I:H@CDLCG>H@H	6C9A:69HDJG:BEADN::
8N7:GH:8JG>INIG6>C>C<EGDH8DCI>CJ6AAN>C;DGB:967DJII=:A6I:HI9:K:ADEB:CIH>C8N7:GH:8JG>IN	>C8AJ9>C<EDI:CI>6AI=G:6IH6C9
>CCDK6I>K:G>H@B6C6<:B:CII:8=C>FJ:H,=>HDCC<@CDLA:9<:68FJ>H>I>DC>H8GJ8>6A;DGI=::;;:8I>K:EG:K:CI>DC	9:I:8I>DC	
B>I><6I>DC	6C9G:B:9>6I>DCD;8N7:GH:8JG>IN>C8>9:CIH!CI=::K:CID;68N7:GH:8JG>IN>C8>9:CI	DJG!+'>H:FJ>EE:9L>I=6
L:AA
9:;>C:9>C8>9:CIG:HEDCH:EA6C,=>HEA6C>C8AJ9:H>BB:9>6I:68I>DCHIDB>I><6I:I=:>BE68I6C9ADC<
I:GBHIG6I:<>:H;DG
G:B:9>6I>DC6C9EG:K:CI>DCD;;JIJG:>C8>9:CIH
'JG!+'G:C;DGBHDJG=>:;M:8JI>K:';;>8:G6C9=>:;>C6C8>6A';;>8:GD;6AA6HE:8IHG:A6I:9ID
8N7:GH:8JG>ING>H@H6C9>C8>9:CIH,=>H=:AEH:CHJG:I=6II=:=><=:HIA:K:AHD;B6C6<:B:CI6G:@:EI67G:6HID;I=:
8N7:GH:8JG>INEDHIJG:6C9EDI:CI>6AG>H@H;68>C<I=:DBE6CNJGI=:GBDG:	H>;>86CI8N7:GH:8JG>INB6II:GH6C9HIG6I:<>8
G>H@B6C6<:B:CI9:8>H>DCH6G::H86A6I:9IDDJGD6G9D;>G:8IDGH	:CHJG>C<I=6II=:N=6K:8DBEG:=:CH>K:DK:GH><=I6C986C
EGDK>9:96C8:DC8G>I>86A8N7:GH:8JG>IN>HHJ:H
(!
	
/:A:6H:DJG8JGG:CI8DGEDG6I:=:69FJ6GI:GH;68>A>IN>CDGI$6J9:G96A:	ADG>96	EJGHJ6CIID6A:6H::ME>G>C<DC
:8:B7:G	
/:6AHDDLCDGA:6H:CJB:GDJH;68>A>I>:HG:A6I>C<IDDJGDE:G6I>DCHJC9:G:68=D;DJGDE:G6I>C<
H:A>I>:H6G:AD86I:9>CI=:;DAADL>C<
HI6I:HA676B6	G>ODC6	6A>;DGC>6	DADG69D	ADG>96	:DG<>6	
!AA>CD>H	%6GNA6C9	%>HHDJG>	&:K696	&:L":GH:N	&:L%:M>8D	&:L1DG@	&DGI=6GDA>C6	'=>D	+DJI=6GDA>C6	
,:CC:HH::	,:M6H	.>G<>C>6	6C9/6H=>CA>I>:H8DCH>HIEG>B6G>AND;6JIDBD7>A:H=DLGDDBH	9>HEA6NADIH	
H:GK>8:;68>A>I>:H	8DAA>H>DCG:E6>G8:CI:GH	E6GIH9>HIG>7JI>DC8:CI:GH	HJEEAN;68>A>I>:H	6JIDBD7>A:HIDG6<:ADIH	E6G@>C<ADIH	6C9
D;;>8:H/:7:A>:K:I=6IDJG;68>A>I>:H6G:HJ;;>8>:CI;DGDJG8JGG:CIC::9H6C96G:>CI>DC>C6AAB6I:G>6AG:HE:8IH
(!	
+::&DI:
D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG>C;DGB6I>DC67DJIDJGA:<6AEGD8::9>C8=>H
>C8DGEDG6I:9=:G:>C7NG:;:G:C8:


(!	$ 
&DI6EEA>867A:


$&(
(!	 B $
   $ 
!/?83A;4HIG69:9DCI=:&:L1DG@+ID8@M8=6C<:JC9:GI=:HNB7DAX&YHD;:7GJ6GN	
	I=:G:
L:G:=DA9:GHD;G:8DG9D;DJG8DBBDCHID8@HJ7HI6CI>6AAN8>6A=DA9:GH	L=DH:H=6G:H6G:=:A9D;G:8DG97N76C@H	7GD@:GH	6C9DI=:G;>C6C8>6A>CHI>IJI>DCH
/:=6K:CDI9:8A6G:9DGE6>96CN86H=9>K>9:C9HDCDJG8DBBDCHID8@9JG>C<DJGILDBDHIG:8:CI;>H86AN:6GH/:9D
CDI8JGG:CIAN6CI>8>E6I:E6N>C<86H=9>K>9:C9H;DGI=:;DG:H::67A:;JIJG:
@@B3?$B?16/@3@<4>B7AF'31B?7A73@
,=:I67A:7:ADLH:IH;DGI=>C;DGB6I>DCL>I=G:HE:8IIDH=6G:HD;8DBBDCHID8@G:EJG8=6H:97NJID&6I>DC	!C89JG>C<
I=:I=G::6C9IL:AK:BDCI=H:C9:9:8:B7:G	

$3?7<2
(G:8IDGH;GDBI>B:IDI>B:6JI=DG>O:HI=:G:EJG8=6H:D;H=6G:HD;DJG8DBBDCHID8@JEID68:GI6>C
BDC:I6GNA>B>I ,=:BDHIG:8:CI6JI=DG>O6I>DC7NI=:D6G9D;>G:8IDGHL6H6CCDJC8:9DCEG>A	
;DG
G:EJG8=6H:HD;JEID6C699>I>DC6A
7>AA>DC!C
	6AAD;I=:H=6G:HI=6IL:G:EJG8=6H:9L:G:G:EJG8=6H:9JC9:G
DJGHID8@G:EJG8=6H:EGDAA>DCG:B6>C:96K6>A67A:JC9:GDJGHID8@
G:EJG8=6H:A>B>I'JGHID8@G:EJG8=6H:EGDG6I>DC96I:


'A<18$3?4C<K:IDI6AHID8@=DA9:GG:IJGCDCDJG8DBBDCHID8@;GDB
:8:B7:G	
I=GDJ<=:8:B7:G	
L>I=I=:E:G;DGB6C8:D;>I=:+I6C96G9(DDGZHX+(Y

!C9:M6C9
>>6H:A;
8DCHIGJ8I:9E::GHI>C<D;DI=:GEJ7A>88DBE6C>:H>CI=:6JIDBDI>K:G:I6>AB6G@:I	G:;:GG:9ID6HI=:
X(J7A>8JID*:I6>A(::GGDJEY,=:(J7A>8JID*:I6>A(::GGDJE8DCH>HIHD;H7JGNJIDBDI>K:GDJE	!C8	6G%6M	
!C8	GDJEJIDBDI>K:	!C8	$>I=>6%DIDGH	!C8	(:CH@:JIDBDI>K:GDJE	!C8	6C9+DC>8JIDBDI>K:	!C8	6C9I=:H:
8DBE6C>:H6G:L:><=I:97NB6G@:I86E>I6A>O6I>DC/:=6K:8G:6I:9I=:H:8DBE6G>HDCHJH>C<96I6HJEEA>:97N*:H:6G8=
6I6GDJE	!C8,=:8DBE6G>HDCHG:;A:8I:9>CI=:CI:C9:9ID;DG:86HII=:;JIJG:E:G;DGB6C8:D;
DJGHID8@6C9B6NCDI7:>C9>86I>K:D;;JIJG:E:G;DGB6C8:,=:CK:HI:9DC
:8:B7:G	
>C:68=D;DJG8DBBDCHID8@	I=:+(

!C9:M	6C9I=:(J7A>8JID*:I6>A(::GGDJE6C9I=6I6CN
9>K>9:C9HL:G:G:>CK:HI:9
536'8/9545,/<+$+'8;3;2':/<++:;84,58;:5':/544):.+4*+>
'4*:.+;(2/);:5+:'/2++885;6
DENG><=IS
+I6C96G9(DDGH	69>K>H>DCD;+(AD76AAAG><=IHG:H:GK:9























JID&6I>DC!C8





 
 

 

 

 

+(






 

 
 
 
 


(J7A>8JID*:I6>A(::GGDJE





 
 
 
 
 

(!	%!&

$400 
$350 
$300 
$250 
$200 
$150 
$100 
$50 
$0 .._ _____ _..._ _____ _._ ______ _._ ______ _,__ _____ __, 
12/19 
12/20 
12/21 
12/22 
12/23 
12/24 
-e- AutoNation Inc. 
---6-- S&P 500 
-G- • Peer Group 

(!	B $ 

,=:;DAADL>C<9>H8JHH>DCH=DJA97:G:69>C8DC?JC8I>DCL>I=(6GI!	>C8AJ9>C<B6II:GHH:I;DGI=>CI=:X*>H@68IDGHY
H:8I>DCD;I=>HDGB
#	6C9DJGDCHDA>96I:9>C6C8>6A+I6I:B:CIH6C9CDI:HI=:G:ID>C8AJ9:9>C(6GI!!	!I:BD;I=>H
DGB
#,=>HH:8I>DCD;I=>HDGB
#>C8AJ9:H9>H8JHH>DCD;N:6G
ID
N:6G8DBE6G>HDCH7:IL::C
6C9

>H8JHH>DCD;N:6G
ID
N:6G8DBE6G>HDCH7:IL::C
6C9
DI=:GI=6C;DGJID&6I>DC>C6C8:	6C:LG:EDGI67A:
H:8=9>H8JHH>DC>H>C8AJ9:9=:G:>C86C7:;DJC9>CX%6C6<:B:CIZH>H8JHH>DC6C9C6ANH>HD;>C6C8>6A
DC9>I>DC6C9*:HJAIHD;'E:G6I>DCHY>C(6GI!!	!I:BD;DJGCCJ6A*:EDGIDCDGB
#;DGI=:;>H86AN:6G:C9:9
:8:B7:G	

M8:EIIDI=::MI:CII=6I9>;;:G:C8:H6BDC<G:EDGI67A:H:6AID6CJC9:GHI6C9>C<D;DJG7JH>C:HHI6@:C
6H6L=DA:	L:EG:H:CII=:9>H8JHH>DC>C%6C6<:B:CIZH>H8JHH>DC6C9C6ANH>HD;>C6C8>6ADC9>I>DC6C9*:HJAIHD;
'E:G6I>DCHDC68DCHDA>96I:976H>H
:GI6>C6BDJCIH=6K:7::CG:8A6HH>;>:9;GDBI=:EG:K>DJHANG:EDGI:9;>C6C8>6AHI6I:B:CIHID8DC;DGBIDI=:;>C6C8>6A
HI6I:B:CIEG:H:CI6I>DCD;I=:8JGG:CIE:G>D9
#C3?C73D
JID&6I>DC	!C8	I=GDJ<=>IHHJ7H>9>6G>:H	>HDC:D;I=:A6G<:HI6JIDBDI>K:G:I6>A:GH>CI=:-C>I:9+I6I:HHD;
:8:B7:G	
	L:DLC:96C9DE:G6I:9C:LK:=>8A:;G6C8=>H:H;GDBHIDG:HAD86I:9>CI=:-C>I:9+I6I:H	
EG:9DB>C6CIAN>CB6?DGB:IGDEDA>I6CB6G@:IH>CI=:+JC7:AIG:<>DC'JGHIDG:H	L=>8=L:7:A>:K:>C8AJ9:HDB:D;I=:BDHI
G:8DO67A:6C9L:AA@CDLC>CDJG@:NB6G@:IH	H:AA9>;;:G:CIC:LK:=>8A:7G6C9H,=:8DG:7G6C9HD;C:LK:=>8A:HI=6I
L:H:AA	G:EG:H:CI>C<6EEGDM>B6I:AND;I=:C:LK:=>8A:HI=6IL:HDA9>C
	6G:B6CJ;68IJG:97N,DNDI6>C8AJ9>C<
$:MJH	 DC96	DG9	:C:G6A%DIDGH	%/	%:G8:9:H
:CO	+I:AA6CI>H	6C9.DA@HL6<:C>C8AJ9>C<J9>6C9(DGH8=:
HD;:8:B7:G	
	L:6AHDDLC:96C9DE:G6I:9JID&6I>DC
7G6C9:98DAA>H>DC8:CI:GH	JID&6I>DC-+JH:9
K:=>8A:HIDG:H	JID&6I>DC
7G6C9:96JIDBDI>K:6J8I>DCDE:G6I>DCH	E6GIH9>HIG>7JI>DC8:CI:GH	6BD7>A:6JIDBDI>K:
G:E6>G6C9B6>CI:C6C8:7JH>C:HH	6C96C6JID;>C6C8:8DBE6CN
/:D;;:G69>K:GH>;>:9G6C<:D;6JIDBDI>K:EGD9J8IH6C9H:GK>8:H	>C8AJ9>C<C:LK:=>8A:H	JH:9K:=>8A:H	XE6GIH6C9
H:GK>8:Y6AHDG:;:GG:9ID6HX;I:G
+6A:HY	L=>8=>C8AJ9:H6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H6HL:AA6H
L=DA:H6A:E6GIH6C98DAA>H>DC7JH>C:HH:H	6C96JIDBDI>K:X;>C6C8:6C9>CHJG6C8:YEGD9J8IH6AHDG:;:GG:9ID6HXJHIDB:G
>C6C8>6A+:GK>8:HY	L=>8=>C8AJ9:K:=>8A:H:GK>8:6C9DI=:GEGDI:8I>DCEGD9J8IH	6HL:AA6HI=:6GG6C<>C<D;;>C6C8>C<;DG
K:=>8A:EJG8=6H:HI=GDJ<=I=>G9
E6GIN;>C6C8:HDJG8:H/:6AHDD;;:G>C9>G:8I;>C6C8>C<I=GDJ<=DJG86EI>K:6JID;>C6C8:
8DBE6CNDCK:=>8A:HL:H:AA
HD;:8:B7:G	
	L:=69;DJGG:EDGI67A:H:8	!BEDGI	(G:B>JB$JMJGN	6C9JID&6I>DC
>C6C8:'JGDB:HI>8H:H8DBEG>H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAC:LK:=>8A:HB6CJ;68IJG:97NDG9	
:C:G6A%DIDGH	6C9+I:AA6CI>H'JG!BEDGIH:H8DBEG>H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAC:LK:=>8A:H
B6CJ;68IJG:9EG>B6G>AN7N,DNDI6	 DC96	 NJC96>	+J76GJ	6C9&>HH6C'JG(G:B>JB$JMJGNH:H8DBEG>H:9D;
G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAC:LK:=>8A:HB6CJ;68IJG:9EG>B6G>AN7N%:G8:9:H
:CO	%/	$:MJH	J9>	6C9
"6H:H>C:68=D;DJGDB:HI>8	!BEDGI	6C9(G:B>JB$JMJGNH:8A:H	
E6GIH6C96JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	6C96JIDBDI>K:;>C6C8:6C9>CHJG6C8:EGD9J8IHJID&6I>DC>C6C8:
>HDJG86EI>K:6JID;>C6C8:8DBE6CN	L=>8=EGDK>9:H>C9>G:8I;>C6C8>C<IDFJ6A>;>:9G:I6>A8JHIDB:GHDCK:=>8A:HL:H:AA
DGI=:N:6G:C9:9:8:B7:G	
	C:LK:=>8A:H6A:H688DJCI:9;DGD;DJGIDI6AG:K:CJ:6C9D;DJGIDI6A
I-H:9K:=>8A:H6A:H688DJCI:9;DGD;DJGIDI6AG:K:CJ:6C9D;DJGIDI6AI'JGE6GIH6C9
H:GK>8:DE:G6I>DCH	L=>A:8DBEG>H>C<D;DJGIDI6AG:K:CJ:	8DCIG>7JI:9D;DJGIDI6AI'JG;>C6C8:6C9
>CHJG6C8:H6A:H	L=>A:8DBEG>H>C<D;DJGIDI6AG:K:CJ:	8DCIG>7JI:9D;DJGIDI6AI
!/?83A<;27A7<;@
JAA
N:6G-+>C9JHIGNC:LK:=>8A:JC>IH6A:HL:G:
B>AA>DC>C
	6H8DBE6G:9IDB>AA>DC>C
	6C9
B>AA>DC>C
AI=DJ<=HI>AA7:ADL=>HIDG>86AA:K:AH	C:LK:=>8A:>CK:CIDGNA:K:AH8DCI>CJ:9ID>C8G:6H:9JG>C<
9J:
ID=><=:GA:K:AHD;B6CJ;68IJG:GK:=>8A:EGD9J8I>DC,=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN	L=>8=
K6G>:H7NB6@:6C9BD9:A	=6HG:HJAI:9>CBD9:G6I>DCD;C:LK:=>8A:EG>8>C<6C9B6G<>CH	L=>8=L::ME:8IL>AA8DCI>CJ:


>C
99>I>DC6AAN	I=:>C8G:6H:96K6>A67>A>IN6C96;;DG967>A>IND;C:LK:=>8A:H6C96C>C8G:6H:>CB6CJ;68IJG:GC:L
K:=>8A:>C8:CI>K:H	>C8AJ9>C<ADL
>CI:G:HI;>C6C8>C<6C98JHIDB:GG:76I:H	=6HG:HJAI:9>C6H=>;I>CB>M;GDBJH:9K:=>8A:H
IDC:LK:=>8A:H$DL:GC:LK:=>8A:H6A:H>CG:8:CIN:6GH=6H6AHDG:HJAI:9>CADL:G6K6>A67>A>IND;JH:9K:=>8A:>CK:CIDGN	
E6GI>8JA6GAN;DGA6I:BD9:AK:=>8A:H
'F@A3:#BA/53B3A<F03?;1723;A
'C"JC:	
	L:L:G:CDI>;>:97N#I=6I>IL6H:ME:G>:C8>C<68N7:G>C8>9:CI>BE68I>C<>IHHNHI:BH	>C8AJ9>C<
I=:HNHI:BHC:8:HH6GNIDHJEEDGIDJG%+	L=>8=HJEEDGIHDJG9:6A:GH=>EDE:G6I>DCH	>C8AJ9>C<DJGDG:JC8I>DCH,=:
>C8>9:CIG:HJAI:9>CDJI6<:HD;DJG%+6C9DG:JC8I>DCH	6AHDG:;:GG:9ID6HI=:#DJI6<:	86JH>C<9>HGJEI>DC6C9
69K:GH:>BE68IHIDDJG7JH>C:HH	>C8AJ9>C<DJGEGD9J8I>K>IN88:HHIDDJG%+6C9DG:JC8I>DCHL6HG:HIDG:96HD;
"JC:	
:GI6>C6C8>AA6GNHNHI:BH6C9>CI:DCH	HJ8=6HI=DH:I=6I=:AE6JIDB6I:DG9:G>C<	H8=:9JA>C<	E6NB:CI	
H6A:H	6C9G:EDGI>C<EGD8:HH:H	L:G:G:HIDG:97NI=::C9D;"JANL>I=G:H>9J6A>BE68IHG:HDAK:97NI=::C9D;I=:I=>G9
FJ6GI:G
+::X*:HJAIHD;'E:G6I>DCHY7:ADL;DG69>H8JHH>DCDCI=:;>C6C8>6A>BE68ID;I=:#DJI6<:IDDJG

G:HJAIH
&3@B9A@<4#=3?/A7<;@
/:=69C:I>C8DB:D;B>AA>DC6C99>AJI:9:6GC>CC
	6H8DBE6G:9IDC:I>C8DB:D;

7>AA>DC6C99>AJI:9:6GC>CC

'JGIDI6AI9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	9G>K:C7N9:8G:6H:H>CC:LK:=>8A:I
D;	JH:9K:=>8A:ID;	6C9;>C6C8:6C9>CHJG6C8:ID;	E6GI>6AAND;;H:I7N6C>C8G:6H:>C
E6GIH6C9H:GK>8:ID;&:LK:=>8A:IL6H69K:GH:AN>BE68I:97N69:8G:6H:>CIE:G
K:=>8A:G:I6>A:9X(.*YG:HJAI>C<;GDB>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN	L=>8==6HG:HJAI:9>C
BD9:G6I>DCD;B6G<>CH-H:9K:=>8A:IL6H69K:GH:AN>BE68I:97N69:8G:6H:>CJH:9K:=>8A:JC>IKDAJB:6C96
H=>;I>CB>MIDL6G9HADL:G
EG>8:9:CIGN
A:K:AK:=>8A:H	L=>8==6K:G:A6I>K:ANADL:G6K:G6<:I(.*>C6C8:6C9
>CHJG6C8:IL6H69K:GH:AN>BE68I:97N6C>C8G:6H:>CG:I6>AK:=>8A:H6A:H;>C6C8:9I=GDJ<=DJG86EI>K:6JID
;>C6C8:8DBE6CN	L=>8=L::ME:8IL>AA7:D;;H:I7NI67>A>IN<:C:G6I:97NDJGJID&6I>DC>C6C8:7JH>C:HH
DK:GI>B:(6GIH6C9H:GK>8:G:HJAIH7:C:;>I:9EG>B6G>AN;GDB6C>C8G:6H:>CI;GDBL6GG6CINH:GK>8:6C9
8JHIDB:G
E6NH:GK>8:
+:ME:CH:HL:G:>BE68I:97N8:GI6>CDC:
I>B:8DHIHG:A6I:9IDI=:#DJI6<:	EG>C8>E6AAN8DCH>HI>C<D;
8DBE:CH6I>DCD;6EEGDM>B6I:ANB>AA>DCE6>9ID8DBB>HH>DC
76H:96HHD8>6I:HID:CHJG:7JH>C:HH8DCI>CJ>IN,=:H:8DHIH
L:G:A6G<:AND;;H:I7N69:8G:6H:>CE:G;DGB6C8:
9G>K:C8DBE:CH6I>DC:ME:CH:E6GIANG:HJAI>C<;GDBI=:#DJI6<:!C
699>I>DC	;ADDGEA6C>CI:G:HI:ME:CH:>C8G:6H:9EG>B6G>AN9J:ID=><=:G6K:G6<:K:=>8A:;ADDGEA6C76A6C8:H
H6G:HJAID;I=:#DJI6<:6C9>IHG:H>9J6A:;;:8IH	L::HI>B6I::6GC>CC
L:G:C:<6I>K:AN>BE68I:9
7N6EEGDM>B6I:ANE:GH=6G:	L>I=DJII6@>C<>CID688DJCI6CNEDI:CI>6AG:8DK:G>:HG:A6I:9IDI=:>C8>9:CI,=:
:HI>B6I:9>BE68I>H8DBEG>H:9D;>CI:GC6A:HI>B6I:HD;ADHI>C8DB:6C9I=:DC:
I>B:8DHIH>C8JGG:9G:A6I:9IDI=:>C8>9:CI	
9:H8G>7:967DK:
&:I>C8DB:9JG>C<
7:C:;>I:9;GDB6C6;I:G
I6MC:I<6>CD;B>AA>DCG:A6I:9ID7JH>C:HHEGDE:GIN9>HEDH>I>DCH	
C:ID;6HH:I>BE6>GB:CIH	E6GI>6AAND;;H:I7N6;I:G
I6M;G6C8=>H:G><=IH>BE6>GB:CIHD;B>AA>DC6C96;I:G
I6MH:A;
>CHJG:9
ADHH:HD;B>AA>DCEG>B6G>ANG:A6I:9IDL:6I=:G
G:A6I:986I6HIGDE=:HJG>C<
	C:I>C8DB:L6H69K:GH:AN>BE68I:9
7N6C6;I:G
I6MADHHD;B>AA>DC;GDBL:6I=:G
G:A6I:986I6HIGDE=:H
;C3;A8A:>CK:CIDG>:H6G:HI6I:96II=:ADL:GD;8DHIDGC:IG:6A>O67A:K6AJ:>CDJGDCHDA>96I:96A6C8:
+=::IH/:BDC>IDGDJGK:=>8A:>CK:CIDGNA:K:AH76H:9DC8JGG:CI:8DCDB>88DC9>I>DCH6C9H:6HDC6AH6A:HIG:C9H
'JGC:LK:=>8A:>CK:CIDGNJC>IH6I:8:B7:G	
6C9
	L:G:6EEGDM>B6I:AN	

6C9	

	G:HE:8I>K:AN
/:=6K:INE>86AANCDI:ME:G>:C8:9H>;>86CIADHH:HDCI=:H6A:D;C:LK:=>8A:>CK:CIDGN	>CE6GI9J:ID>C8:CI>K:H
EGDK>9:97NB6CJ;68IJG:GHIDEGDBDI:H6A:HD;C:LK:=>8A:H6C9DJG>CK:CIDGNB6C6<:B:CIEG68I>8:H/:BDC>IDGDJGC:L
K:=>8A:>CK:CIDGNK6AJ:H6H8DBE6G:9IDC:IG:6A>O67A:K6AJ:H'JGC:LK:=>8A:>CK:CIDGNL6HC:ID;8JBJA6I>K:LG>I:


9DLCHD;
B>AA>DC6I:8:B7:G	
/:=69CDC:LK:=>8A:>CK:CIDGN8JBJA6I>K:LG>I:
9DLCH6I:8:B7:G	


/:G:8DC9>I>DCI=:B6?DG>IND;JH:9K:=>8A:H68FJ>G:9;DGG:I6>AH6A:>CDJGE6GIH6C9H:GK>8:9:E6GIB:CIH6C986E>I6A>O:
I=:G:A6I:98DHIHIDI=:JH:9K:=>8A:>CK:CIDGN/:BDC>IDGDJGJH:9K:=>8A:>CK:CIDGNK6AJ:H6H8DBE6G:9IDC:IG:6A>O67A:
K6AJ:H,NE>86AAN	JH:9K:=>8A:HI=6I6G:CDIHDA9DC6G:I6>A76H>H6G:HDA96IL=DA:H6A:6J8I>DCH'JGJH:9K:=>8A:>CK:CIDGN
76A6C8:L6HC:ID;8JBJA6I>K:LG>I:
9DLCHD;B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	


(6GIH	688:HHDG>:H	6C9DI=:G>CK:CIDGN6G:86GG>:96II=:ADL:GD;8DHIDGC:IG:6A>O67A:K6AJ:/::HI>B6I:I=:6BDJCID;
EDI:CI>6AAN96B6<:96C9DGD7HDA:I:>CK:CIDGN76H:9JEDC=>HIDG>86A:ME:G>:C8:	B6CJ;68IJG:GG:IJGCEDA>8>:H	6C9>C9JHIGN
IG:C9H'JGE6GIH	688:HHDG>:H	6C9DI=:G>CK:CIDGN76A6C8:L6HC:ID;8JBJA6I>K:LG>I:
9DLCHD;B>AA>DC6I
:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	

?7A71/91196I:9>C6C8>6A+I6I:B:CIH>C8DC;DGB>INL>I=-+<:C:G6AAN688:EI:9688DJCI>C<EG>C8>EA:H
X-+(Y	L=>8=G:FJ>G:JHIDB6@::HI>B6I:H6C96HHJBEI>DCHI=6I6;;:8II=:G:EDGI:96BDJCIHD;6HH:IH6C9
A>67>A>I>:H	I=:9>H8ADHJG:D;8DCI>C<:CI6HH:IH6C9A>67>A>I>:H6II=:96I:D;I=:;>C6C8>6AHI6I:B:CIH	6C9I=:G:EDGI:96BDJCIH
D;G:K:CJ:6C9:ME:CH:H9JG>C<I=:G:EDGI>C<E:G>D9/::K6AJ6I:DJG:HI>B6I:HDC6CDCC<76H>H6C9L:76H:DJG
:HI>B6I:HDC=>HIDG>86A:ME:G>:C8:6C9K6G>DJHDI=:G6HHJBEI>DCHL:7:A>:K:ID7:G:6HDC67A:8IJ6ADJI8DB:H8DJA99>;;:G
B6I:G>6AAN;GDBI=DH::HI>B6I:H>C6B6CC:GI=6I8DJA9=6K:6B6I:G>6A:;;:8IDCDJGDCHDA>96I:9>C6C8>6A+I6I:B:CIH+:I
;DGI=7:ADL6G:I=:688DJCI>C<:HI>B6I:HI=6IL:=6K:>9:CI>;>:96H8G>I>86AIDDJG7JH>C:HHDE:G6I>DCH6C96CJC9:GHI6C9>C<
D;DJGG:HJAIHD;DE:G6I>DCH	76H:9DCI=:=><=9:IN>CI=:>G6EEA>86I>DC+::&DI:D;I=:
&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG69>H8JHH>DCD;DI=:GH>;>86CI688DJCI>C<EDA>8>:H
55*=/22
DD9L>AA;DGDJGG:EDGI>C<JC>IH>HI:HI:9;DG>BE6>GB:CI6CCJ6AANDCEG>A
DGBDG:;G:FJ:CIANL=:C:K:CIHDG
8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6II=:86GGN>C<K6AJ:D;6G:EDGI>C<JC>I:M8::9H>IH;6>GK6AJ:/:B6N;>GHIE:G;DGB6
FJ6A>I6I>K:6HH:HHB:CIID9:I:GB>C:L=:I=:G>I>HBDG:A>@:ANI=6CCDII=6I6G:EDGI>C<JC>I>H>BE6>G:9/=:C6HH:HH>C<
AA;DG>BE6>GB:CI	DJG9:8>H>DCIDE:G;DGB6FJ6A>I6I>K:6HH:HHB:CI;DG6C>C9>K>9J6AG:EDGI>C<JC>I>H>C;AJ:C8:97N
6CJB7:GD;;68IDGH	>C8AJ9>C<I=:86GGN>C<K6AJ:D;I=:G:EDGI>C<JC>IZHAA	I=:H>;>86C8:D;I=::M8:HHD;I=:
G:EDGI>C<JC>IZH:HI>B6I:9;6>GK6AJ:DK:G86GGN>C<K6AJ:6II=:A6HIFJ6CI>I6I>K:6HH:HHB:CI96I:	I=:6BDJCID;I>B:>C
7:IL::CFJ6CI>I6I>K:;6>GK6AJ:6HH:HHB:CIH	B68GD:8DCDB>88DC9>I>DCH	6JIDBDI>K:>C9JHIGN6C9B6G@:I8DC9>I>DCH	6C9
DJGDE:G6I>C<E:G;DGB6C8:
/::A:8I:9IDE:G;DGBFJ6CI>I6I>K:I:HIH;DGDJG6CCJ6AAA>BE6>GB:CII:HI>C<6HD;EG>A
	
	6C9CD
>BE6>GB:CI8=6G<:HG:HJAI:9;GDBI=:H:FJ6CI>I6I>K:I:HIH,=:FJ6CI>I6I>K:AA>BE6>GB:CII:HI>H9:E:C9:CIDCB6CN
K6G>67A:HJH:9ID9:I:GB>C:I=:;6>GK6AJ:D;:68=G:EDGI>C<JC>I+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A
+I6I:B:CIH;DG69:H8G>EI>DCD;I=:K6AJ6I>DCB:I=D96C9G:A6I:9:HI>B6I:H6C96HHJBEI>DCHJH:9>CDJGFJ6CI>I6I>K:
>BE6>GB:CII:HI>C<
,=:;6>GK6AJ:HD;I=:DB:HI>8	!BEDGI	(G:B>JB$JMJGN	JID&6I>DC>C6C8:	6C9DAA>H>DC:CI:GG:EDGI>C<JC>IH
HJ7HI6CI>6AAN:M8::9:9I=:>G86GGN>C<K6AJ:H6HD;EG>A
	
,=:;6>GK6AJ:D;I=:%D7>A:+:GK>8:G:EDGI>C<JC>I	L=>8=
G:A6I:HIDI=:BD7>A:6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:7JH>C:HHL:68FJ>G:9>CI=:;>GHIFJ6GI:GD;
	:M8::9:9
86GGN>C<K6AJ:7N6EEGDM>B6I:AN,=:@:N6HHJBEI>DCHJH:9>CDJG:HI>B6I:D;;6>GK6AJ:;DGDJG%D7>A:+:GK>8:
G:EDGI>C<JC>I>C8AJ9:9G:K:CJ:I>K>IN	>;I=:
G:K:CJ:GK6AJ:LDJA9=6K:HI>AAHA><=IAN:M8::9:9I=:86GGN>C<K6AJ:D;I=:%D7>A:
+:GK>8:G:EDGI>C<JC>I,=>HG:HJAI6C99>H8JHH>DC>HCDI>CI:C9:9ID699G:HH6AAEDI:CI>6ADJI8DB:HI=6I8DJA9=6K:G:HJAI:9
>;9>;;:G:CI6HHJBEI>DCH=697::CJH:9<>K:CI=:CJB7:GD;6HHJBEI>DCHJH:9>C9:I:GB>C>C<;6>GK6AJ:6C9I=:9:I>K>INID8=6C<:H>CHJ8=6HHJBEI>DCH
HD;:8:B7:G	
	L:=6K:B>AA>DCD;AAG:A6I:9IDI=:DB:HI>8G:EDGI>C<JC>I	B>AA>DC
G:A6I:9IDI=:!BEDGIG:EDGI>C<JC>I	B>AA>DCG:A6I:9IDI=:(G:B>JB$JMJGNG:EDGI>C<JC>I	
B>AA>DCG:A6I:9ID
I=:%D7>A:+:GK>8:G:EDGI>C<JC>I	B>AA>DCG:A6I:9IDI=:JID&6I>DC>C6C8:G:EDGI>C<JC>I	6C9B>AA>DCG:A6I:9
IDI=:DAA>H>DC:CI:GHG:EDGI>C<JC>I


:.+84:'4-/(2+99+:9
'JGEG>C8>E6A>9:CI>;>67A:>CI6C<>7A:6HH:IH6G:>C9>K>9J6AHIDG:G><=IHJC9:G;G6C8=>H:6I=K:=>8A:
B6CJ;68IJG:GH	L=>8==6K:>C9:;>C>I:A>K:H6C96G:I:HI:9;DG>BE6>GB:CI6CCJ6AAN6HD;EG>A
DGBDG:;G:FJ:CIANL=:C
:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I>BE6>GB:CIB6N=6K:D88JGG:9
/:B6N;>GHIE:G;DGB6FJ6A>I6I>K:6HH:HHB:CIID9:I:GB>C:L=:I=:G>I>HBDG:A>@:ANI=6CCDII=6I6;G6C8=>H:G><=I6HH:I
>H>BE6>G:9/::A:8I:9IDE:G;DGBFJ6CI>I6I>K:I:HIH;DGDJG6CCJ6A;G6C8=>H:G><=IH>BE6>GB:CII:HI>C<6HD;EG>A
	

	6C9CD>BE6>GB:CI8=6G<:HG:HJAI:9;GDBI=:H:FJ6CI>I6I>K:I:HIH/:>9:CI>;>:9HIDG:HI=6I	L=>A:I=:N:68==69
;G6C8=>H:G><=IH;6>GK6AJ:>C:M8:HHD;DG:FJ6AID86GGN>C<K6AJ:	=69ADL:GG:A6I>K:E:G;DGB6C8:8DBE6G:9IDDJGIDI6A
HIDG:EDEJA6I>DC/:L>AA8DCI>CJ:IDBDC>IDGI=:H:HIDG:H	6HL:AA6H6AAHIDG:H	;DG:K:CIHDG8=6C<:H>C8>G8JBHI6C8:HI=6I
B6N>C9>86I:EDI:CI>6A>BE6>GB:CI,=:G:B6>C9:GD;DJGHIDG:H=69;G6C8=>H:G><=IHL>I=86A8JA6I:9;6>GK6AJ:HI=6I
HJ7HI6CI>6AAN:M8::9:9I=:>G86GGN>C<K6AJ:H6HD;EG>A
	

,=:FJ6CI>I6I>K:;G6C8=>H:G><=IH>BE6>GB:CII:HI>H9:E:C9:CIDCB6CNK6G>67A:HJH:9ID9:I:GB>C:I=:;6>GK6AJ:D;
:68=HIDG:ZH;G6C8=>H:G><=IH+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG69:H8G>EI>DCD;I=:
K6AJ6I>DCB:I=D96C9G:A6I:9:HI>B6I:H6C96HHJBEI>DCHJH:9>CDJGFJ6CI>I6I>K:>BE6>GB:CII:HI>C<6H:9DC6H:CH>I>K>IN
6C6ANH>HD;I=:H::HI>B6I:H6C96HHJBEI>DCH	>C8AJ9>C<>;I=:;6>GK6AJ:D;:68=D;DJG;G6C8=>H:G><=IH=697::C9:I:GB>C:9
ID7:6=NEDI=:I>86A
ADL:G6HD;I=:K6AJ6I>DC96I:D;EG>A
	
	I=:G:HJAI>C<>BE6>GB:CI8=6G<:LDJA9=6K:7::C
6EEGDM>B6I:ANB>AA>DC,=:H:CH>I>K>IN6C6ANH>HE:G;DGB:9	>C8AJ9>C<I=::;;:8ID;6=NEDI=:I>86A
9:8G:6H:>C;6>G
K6AJ::HI>B6I:H	>HCDI>CI:C9:9IDEGDK>9:6H:CH>I>K>IN6C6ANH>HD;:K:GNEDI:CI>6ADJI8DB:
JG>C<I=:;DJGI=FJ6GI:GD;
	L:8DC8AJ9:9I=6I6IG><<:G>C<:K:CI=69D88JGG:9I=6I>C9>86I:9I=:;6>GK6AJ:HD;
;G6C8=>H:G><=IH;DGILDHIDG:HB6N=6K:7::CA:HHI=6CI=:>G86GGN>C<K6AJ:H,=:G:;DG:	L:E:G;DGB:9FJ6CI>I6I>K:
;G6C8=>H:G><=IH>BE6>GB:CII:HIH;DGI=:H:HIDG:H9JG>C<I=:;DJGI=FJ6GI:GD;
H6G:HJAID;I=:FJ6CI>I6I>K:I:HIH	L:
9:I:GB>C:9I=:;G6C8=>H:G><=IH;DG7DI=HIDG:HL:G:;JAAN>BE6>G:9	6C9L:G:8DG9:9CDC
86H=;G6C8=>H:G><=IH>BE6>GB:CI
8=6G<:HD;B>AA>DC9JG>C<I=:;DJGI=FJ6GI:GD;
HD;:8:B7:G	
	L:=69HIDG:HL>I=;G6C8=>H:
G><=IHIDI6A>C<B>AA>DC


&3=8A:
 	

 	




 	

	



*:I6>AJH:9K:=>8A:

	


	


 
	



	

/=DA:H6A:















-H:9K:=>8A:

	

	


 
	

	

>C6C8:6C9>CHJG6C8:	C:I

	


	


 
	



,DI6AK6G>67A:DE:G6I>DCH
 	
 	


  	



(6GIH6C9H:GK>8:

	

	





	






'I=:G













,DI6AG:K:CJ:
 	
 	



  	





GDHHEGD;>I
&:LK:=>8A:


 	




  	




*:I6>AJH:9K:=>8A:







 




/=DA:H6A:











-H:9K:=>8A:








 




>C6C8:6C9>CHJG6C8:

	


	


 
	



,DI6AK6G>67A:DE:G6I>DCH

	

	


 
	





(6GIH6C9H:GK>8:

	



	




	






'I=:G











,DI6AI

	

	


 
	



JID&6I>DC>C6C8:>C8DB:ADHH

 
 


 

+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K:
:ME:CH:H

	

	




 
	




:EG:8>6I>DC6C96BDGI>O6I>DC
















G6C8=>H:G><=IH>BE6>GB:CI



W



W

W
'I=:G>C8DB:	C:I

 

 


 

'E:G6I>C<>C8DB:

	


	



 
	




&DC
DE:G6I>C<>C8DB::ME:CH:>I:BH
ADDGEA6C>CI:G:HI:ME:CH:

 
 


 


'I=:G>CI:G:HI:ME:CH:

 
 


 

'I=:G>C8DB:ADHH	C:I







 

!C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH
7:;DG:>C8DB:I6M:H


 	



  	



*:I6>AK:=>8A:JC>IH6A:H
&:LK:=>8A:

	

	


	


	

	

-H:9K:=>8A:

	


	


	

 
	


	



	

	

	




	

	

*:K:CJ:E:GK:=>8A:G:I6>A:9
&:LK:=>8A:

	

	



 
	

	


-H:9K:=>8A:

	

	

	
 

	


	


GDHHEGD;>IE:GK:=>8A:G:I6>A:9
&:LK:=>8A:

	


	

	
 
	

	



-H:9K:=>8A:

	

	




 
	




>C6C8:6C9>CHJG6C8:

	

	


 
	




,DI6AK6G>67A:DE:G6I>DCH

	

	


 
	




,DI6AK6G>67A:DE:G6I>DCH>C8AJ9:HC:LK:=>8A:	JH:9K:=>8A:G:I6>A6C9L=DA:H6A:	6C9;>C6C8:6C9>CHJG6C8:G:HJAIH
,DI6AK6G>67A:DE:G6I>DCHIE:GK:=>8A:G:I6>A:9>H86A8JA6I:97N9>K>9>C<I=:HJBD;C:LK:=>8A:	G:I6>AJH:9K:=>8A:	6C9;>C6C8:
6C9>CHJG6C8:I7NIDI6AG:I6>AK:=>8A:JC>IH6A:H


-3/?@;232313:03?










*:K:CJ:B>ME:G8:CI6<:H
&:LK:=>8A:



-H:9K:=>8A:




(6GIH6C9H:GK>8:



>C6C8:6C9>CHJG6C8:	C:I



'I=:G






,DI6A












GDHHEGD;>IB>ME:G8:CI6<:H
&:LK:=>8A:





-H:9K:=>8A:




(6GIH6C9H:GK>8:



>C6C8:6C9>CHJG6C8:



'I=:G
W




,DI6A












'E:G6I>C<>I:BH6H6E:G8:CI6<:D;G:K:CJ:
GDHHEGD;>I
&:LK:=>8A:



-H:9K:=>8A:
G:I6>A




(6GIH6C9H:GK>8:



,DI6A




+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H



'E:G6I>C<>C8DB:



'I=:GDE:G6I>C<>I:BH6H6E:G8:CI6<:D;IDI6AI
+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H



'E:G6I>C<>C8DB:



313:03?






6NHHJEEAN
&:LK:=>8A:>C9JHIGNHI6C96G9D;H:AA>C<96NH
96NH
96NH
-H:9K:=>8A:IG6>A>C<86A:C96GBDCI=96NH
96NH
96NH


'/:3'AC<G:HJAIHDC6H6B:HIDG:76H>HIDG:;A:8IDJG>CI:GC6AE:G;DGB6C8:,=:X+6B:
+IDG:Y6BDJCIHEG:H:CI:97:ADL>C8AJ9:I=:G:HJAIHD;DJGHIDG:H;DGI=:>9:CI>86ABDCI=H>C:68=E:G>D9EG:H:CI:9>CI=:
8DBE6G>HDC	8DBB:C8>C<L>I=I=:;>GHI;JAABDCI=>CL=>8=I=:HIDG:L6HDLC:97NJH*:HJAIH;GDB9>K:HI:9HIDG:H6G:
:M8AJ9:9;GDB7DI=8JGG:CI6C9EG>DGE:G>D9H,=:G:;DG:	I=:6BDJCIHEG:H:CI:9>CI=:N:6G
8DAJBCI=6I>H7:>C<
8DBE6G:9IDI=:N:6G
8DAJBCB6N9>;;:G;GDBI=:6BDJCIHEG:H:CI:9>CI=:N:6G
8DAJBCI=6I>H7:>C<8DBE6G:9
IDI=:N:6G
8DAJBC/:7:A>:K:I=:EG:H:CI6I>DCD;I=>H>C;DGB6I>DCEGDK>9:H6B:6C>C<;JA8DBE6G>HDCD;E:G>D9
DK:G
E:G>D9G:HJAIHD;DJGDE:G6I>DCH
-3/?@;232313:03?
-3/?@;232313:03?
7;:7997<;@3E13=A
=3?C3671932/A/






*/?7/;13
/C8A:
	


	



	
	



*:I6>AJH:9K:=>8A:

	

	


 
	

	

	


/=DA:H6A:















-H:9K:=>8A:

	

	




 
	


	

	

>C6C8:6C9>CHJG6C8:	
C:I

	

	


 
	

	




,DI6AK6G>67A:
DE:G6I>DCH
 	
 	



  	
 	



(6GIH6C9H:GK>8:

	


	






	

	




'I=:G
















,DI6AG:K:CJ:
	

	



 	
	



GDHHEGD;>I
&:LK:=>8A:


 	



  	

 	




*:I6>AJH:9K:=>8A:








 








/=DA:H6A:













-H:9K:=>8A:










 








>C6C8:6C9>CHJG6C8:

	

	


 
	

	




,DI6AK6G>67A:
DE:G6I>DCH

	

	


 
	

	




(6GIH6C9H:GK>8:

	

	





	


	



'I=:G












,DI6AI
 	
 	




  	

 	




*:I6>AK:=>8A:JC>IH6A:H
&:LK:=>8A:
 	
 	

	

 
	
 	


	

-H:9K:=>8A:
 	
 	



	

  	
 	


	

,DI6A
 
	
 
	

	

  
	
 	


	


*:K:CJ:E:GK:=>8A:
G:I6>A:9
&:LK:=>8A:
 	
 	


  	
 	


	

-H:9K:=>8A:
 	
 	

	
  	

 
	


	


GDHHEGD;>IE:GK:=>8A:
G:I6>A:9
&:LK:=>8A:

	


	

	
 
	

	

	

-H:9K:=>8A:

	

	



 
	


	




>C6C8:6C9>CHJG6C8:

	

	


 
	

	



,DI6AK6G>67A:
DE:G6I>DCH

	

	



 
	

	



,DI6AK6G>67A:DE:G6I>DCH>C8AJ9:HC:LK:=>8A:	JH:9K:=>8A:G:I6>A6C9L=DA:H6A:	6C9;>C6C8:6C9>CHJG6C8:G:HJAIH
,DI6AK6G>67A:DE:G6I>DCHIE:GK:=>8A:G:I6>A:9>H86A8JA6I:97N9>K>9>C<I=:HJBD;C:LK:=>8A:	G:I6>AJH:9K:=>8A:	6C9;>C6C8:
6C9>CHJG6C8:I7NIDI6AG:I6>AK:=>8A:JC>IH6A:H


-3/?@;232313:03?
-3/?@;232313:03?













*:K:CJ:B>ME:G8:CI6<:H
&:LK:=>8A:




-H:9K:=>8A:






(6GIH6C9H:GK>8:




>C6C8:6C9>CHJG6C8:	C:I




'I=:G
W
W




,DI6A
















GDHHEGD;>IB>ME:G8:CI6<:H
&:LK:=>8A:







-H:9K:=>8A:





(6GIH6C9H:GK>8:





>C6C8:6C9>CHJG6C8:




'I=:G
W






,DI6A
















'E:G6I>C<>I:BH6H6E:G8:CI6<:D;G:K:CJ:
GDHHEGD;>I
&:LK:=>8A:





-H:9K:=>8A:
G:I6>A





(6GIH6C9H:GK>8:





,DI6A







+=!+./)2+
-3/?@;232313:03?
7;:7997<;@3E13=A=3?C3671932/A/








C@	




C@	


*/?7/;13
/CI



	




 
	




*:I6>AK:=>8A:JC>IH6A:H

	

	


	


	

	

*:K:CJ:E:GK:=>8A:G:I6>A:9

	

	



 
	

	


GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	


	

	
 
	

	



GDHHEGD;>I6H6E:G8:CI6<:D;G:K:CJ:



!CK:CIDGN96NHHJEEAN>C9JHIGN
HI6C96G9D;H:AA>C<96NH
96NH
96NH
-3/?@;232313:03?








C@	










C@	


*/?7/;13
/CI


 	



  	

 	




*:I6>AK:=>8A:JC>IH6A:H

	

	

	



	

	


	

*:K:CJ:E:GK:=>8A:G:I6>A:9

	

	


 
	

	


	

GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	


	

	
 
	

	

	

GDHHEGD;>I6H6E:G8:CI6<:D;
G:K:CJ:





,=:;DAADL>C<9>H8JHH>DCD;C:LK:=>8A:G:HJAIH>HDC6H6B:HIDG:76H>H,=:9>;;:G:C8:7:IL::CG:EDGI:96BDJCIH6C9
H6B:HIDG:6BDJCIH>CI=:67DK:I67A:HD;B>AA>DC	
B>AA>DC	6C9B>AA>DC>CC:LK:=>8A:G:K:CJ:6C9

B>AA>DC	B>AA>DC	6C9B>AA>DC>CC:LK:=>8A:I;DG
	
	6C9
	G:HE:8I>K:AN	>HG:A6I:9ID
68FJ>H>I>DC6C99>K:HI>IJG:68I>K>IN	6H6EEA>867A:>C6<>K:CN:6G
		+),.! 0+		

+6B:HIDG:C:LK:=>8A:G:K:CJ:>C8G:6H:99JG>C<
	6H8DBE6G:9ID
	9J:ID6C>C8G:6H:>CH6B:HIDG:JC>I
KDAJB:	E6GI>6AAND;;H:I7N69:8G:6H:>CH6B:HIDG:G:K:CJ:(.*+6B:HIDG:JC>IKDAJB:7:C:;>I:9;GDBI=:>C8G:6H>C<
HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN	E6GI>8JA6GAN;DG!BEDGIB6CJ;68IJG:GH	6C9HJHI6>C:98DCHJB:G9:B6C9
+6B:HIDG:JC>IKDAJB:6AHD7:C:;>I:9;GDB6C>C8G:6H:>CK:=>8A:6;;DG967>A>IN	E6GI>6AAN9J:ID6C>C8G:6H:>CB6CJ;68IJG:G
>C8:CI>K:H	>C8AJ9>C<ADL
>CI:G:HI;>C6C8>C<6C9G:76I:H,=:>C8G:6H:>CH6B:HIDG:JC>IKDAJB:L6HE6GI>6AAND;;H:I7N6
9:8G:6H:>CEGD9J8I>K>IN6H6G:HJAID;I=:#DJI6<:	L=>8=9>HGJEI:9DJGK:=>8A:H6A:H	>CK:CIDGN	6C98JHIDB:G
G:A6I>DCH=>EB6C6<:B:CI;JC8I>DCH>CI=:A6II:G=6A;D;"JC:

+6B:HIDG:C:LK:=>8A:G:K:CJ:6C9I(.*7DI=9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:
ID>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN	L=>8==6HG:HJAI:9>CBD9:G6I>DCD;EG>8>C<6C9B6G<>CH
+6B:HIDG:C:LK:=>8A:G:K:CJ:(.*L6H6AHD69K:GH:AN>BE68I:97N9:8G:6H:H>CB6CJ;68IJG:GHZHJ<<:HI:9G:I6>AEG>8:H
6C96H=>;I>CB>M6L6N;GDB(G:B>JB$JMJGNK:=>8A:H	L=>8==6K:G:A6I>K:AN=><=:G6K:G6<:H:AA>C<EG>8:H


"3A"3D*367193;C3;AC<I67A:9:I6>AHC:IC:LK:=>8A:>CK:CIDGN86GGN>C<7:C:;>I:ME:CH:	8DCH>HI>C<D;C:LK:=>8A:;ADDGEA6C
>CI:G:HI:ME:CH:	C:ID;;ADDGEA6C6HH>HI6C8::6GC:96BDJCIHG:8:>K:9;GDBB6CJ;68IJG:GHHE:8>;>86AANIDHJEEDGIHIDG:
;>C6C8>C<D;C:LK:=>8A:>CK:CIDGNADDGEA6C6HH>HI6C8:>H688DJCI:9;DG6H68DBEDC:CID;C:LK:=>8A:I>C
688DG96C8:L>I=-+(
-3/?@;232313:03?
7;:7997<;@






*/?7/;13


C@	





*/?7/;13


C@	


ADDGEA6C6HH>HI6C8:












&:LK:=>8A:;ADDGEA6C>CI:G:HI:ME:CH:


 
 
 
 

&:IC:LK:=>8A:>CK:CIDGN86GGN>C<7:C:;>I:ME:CH:

 
 
 



		+),.! 0+		

,=:C:IC:LK:=>8A:>CK:CIDGN86GGN>C<:ME:CH:>C8G:6H:9>C
	6H8DBE6G:9ID
	9J:ID6C>C8G:6H:>C;ADDGEA6C
>CI:G:HI:ME:CH:	E6GI>6AAND;;H:I7N6C>C8G:6H:>C;ADDGEA6C6HH>HI6C8:ADDGEA6C>CI:G:HI:ME:CH:>C8G:6H:9EG>B6G>AN9J:
ID=><=:G6K:G6<:;ADDGEA6C76A6C8:HADDGEA6C6HH>HI6C8:>C8G:6H:99J:ID=><=:GC:LK:=>8A:JC>IH6A:H6C96C>C8G:6H:>C
I=:6K:G6<:;ADDGEA6C6HH>HI6C8:G6I:E:GJC>IADDGEA6C>CI:G:HIG6I:H6G:K6G>67A:6C9	I=:G:;DG:	>C8G:6H:6C99:8G:6H:L>I=
8=6C<:H>CI=:JC9:GAN>C<7:C8=B6G@>CI:G:HIG6I:HGDBI=:;>GHIFJ6GI:GD;

	L=:CI=::9:G6A*:H:GK:8JI>CI:G:HI
G6I:HIDC:6G
	JEJCI>AI=:I=>G9FJ6GI:GD;
	L:=696C:IC:LK:=>8A:>CK:CIDGN86GGN>C<7:C:;>I99>I>DC6AAN	DK:G
I=>HH6B:E:G>D9	DJG6K:G6<:K:=>8A:;ADDGEA6C76A6C8:HL:G:H>;>86CIANADL:GI=6C=>HIDG>86AHI6C96G9H9J:ID
B6CJ;68IJG:GHZC:LK:=>8A:>CK:CIDGNHJEEAN8DCHIG6>CIH/>I=I=:>C8G:6H:H>CC:LK:=>8A:>CK:CIDGNHJEEAN6C9>CI:G:HI
G6I:H	;ADDGEA6C>CI:G:HI:ME:CH:=6H>C8G:6H:9H>;>86CIAN!;>CI:G:HIG6I:HG:B6>C6II=:>G8JGG:CIA:K:AHDG>C8G:6H:
L>I=DJI68DGG:HEDC9>C<>C8G:6H:>C;ADDGEA6C6HH>HI6C8:DG69:8G:6H:>C6K:G6<:C:LK:=>8A:>CK:CIDGNA:K:AH	L:LDJA9
:ME:8II=6IL:L>AA8DCI>CJ:ID>C8JG6C:IC:LK:=>8A:>CK:CIDGN86GGN>C<:ME:CH:


 9+*!+./)2+
-3/?@;232313:03?


C@	




C@	


7;:7997<;@3E13=A=3?C3671932/A/






*/?7/;13
/CAG:K:CJ:

	


	


 
	



	

/=DA:H6A:G:K:CJ:















,DI6AG:K:CJ:

	

	


 
	

	

*:I6>AI







 




/=DA:H6A:I











,DI6AI








 




*:I6>AK:=>8A:JC>IH6A:H

	


	


	

 
	


	

*:K:CJ:E:GK:=>8A:G:I6>A:9

	

	

	
 

	


	


GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	

	




 
	




GDHHEGD;>I6H6D;G:I6>AG:K:CJ:




!CK:CIDGN96NHHJEEANIG6>A>C<86A:C96G
BDCI=96NH
96NH
96NH
-3/?@;232313:03?








C@	










C@	


*/?7/;13
/CAG:K:CJ:
 	
 	


  	
 	

	


/=DA:H6A:G:K:CJ:















,DI6AG:K:CJ:
 	
 	




  	

 	

	

*:I6>AI








 








/=DA:H6A:I













,DI6AI










 








*:I6>AK:=>8A:JC>IH6A:H

	

	



	

 
	

	


	

*:K:CJ:E:GK:=>8A:G:I6>A:9

	

	

	
 
	



	


	


GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	

	



 
	


	




GDHHEGD;>I6H6D;G:I6>A
G:K:CJ:





,=:;DAADL>C<9>H8JHH>DCD;JH:9K:=>8A:G:HJAIH>HDC6H6B:HIDG:76H>H,=:9>;;:G:C8:7:IL::CG:EDGI:96BDJCIH6C9
H6B:HIDG:6BDJCIH>CI=:67DK:I67A:HD;
B>AA>DC	
B>AA>DC	6C9B>AA>DC>CG:I6>AJH:9K:=>8A:G:K:CJ:
6C9B>AA>DC	B>AA>DC	6C9B>AA>DC>CG:I6>AJH:9K:=>8A:I;DG
	
	6C9
	G:HE:8I>K:AN	
>HG:A6I:9ID68FJ>H>I>DC6C99>K:HI>IJG:68I>K>IN	6HL:AA6HI=:DE:C>C<D;JID&6I>DC-+JH:9K:=>8A:HIDG:H	6H
6EEA>867A:>C6<>K:CN:6G
		+),.! 0+		

+6B:HIDG:G:I6>AJH:9K:=>8A:G:K:CJ:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	9J:ID69:8G:6H:>CH6B:HIDG:JC>I
KDAJB:6C969:8G:6H:>CH6B:HIDG:G:K:CJ:(.*,=:9:8G:6H:>CH6B:HIDG:JC>IKDAJB:	E6GI>8JA6GAN;DGB>9
ID=><=:G
EG>8:9JH:9K:=>8A:H	>HI=:G:HJAID;I=:H=>;I>CB>M;GDBJH:9K:=>8A:HIDC:LK:=>8A:H9J:>CE6GIIDADL:G6K6>A67>A>IN6C9
A:K:AHD;A6I:BD9:AJH:9K:=>8A:H	6HL:AA6H>C8G:6H>C<HJEEAND;C:LK:=>8A:>CK:CIDGN	6C>C8G:6H:>CB6CJ;68IJG:GC:L
K:=>8A:>C8:CI>K:H	6C9BD9:G6I>DCD;C:LK:=>8A:EG>8>C<!C699>I>DC	H6B:HIDG:JC>IKDAJB:L6H69K:GH:AN>BE68I:97N
I=:#DJI6<:	L=>8=G:HJAI:9>C69:8G:6H:>CEGD9J8I>K>IN;GDBI=:9>HGJEI>DCIDDJGK:=>8A:H6A:H	>CK:CIDGN	6C9
8JHIDB:GG:A6I>DCH=>EB6C6<:B:CI;JC8I>DCH>CI=:A6II:G=6A;D;"JC:
6C9A:HHI=6CDEI>B6AA:K:AH6C9B>MD;JH:9
K:=>8A:>CK:CIDGN6II=:HI6GID;I=:I=>G9FJ6GI:GD;



+6B:HIDG:JH:9K:=>8A:G:K:CJ:(.*6C9I(.*9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:
ID6H=>;I>CB>MIDL6G9HADL:G
EG>8:9:CIGN
A:K:AK:=>8A:H	L=>8==6K:G:A6I>K:ANADL:G6K:G6<:H:AA>C<EG>8:H6C9I(.*


'8:9+8I

	



	




	






GDHHEGD;>I6H6E:G8:CI6<:D;G:K:CJ:



-3/?@;232313:03?


C@	




C@	








*/?7/;13
/CI
 	
 	




 	

 	



GDHHEGD;>I6H6E:G8:CI6<:D;
G:K:CJ:





(6GIH6C9H:GK>8:G:K:CJ:>HEG>B6G>AN9:G>K:9;GDBK:=>8A:G:E6>GH6C9B6>CI:C6C8:E6>99>G:8IAN7N8JHIDB:GHDGK>6
G:>B7JGH:B:CI;GDBB6CJ;68IJG:GH6C9DI=:GHJC9:GL6GG6CINEGDDCD;K:=>8A:H;DGH6A:	6C98DAA>H>DCH:GK>8:H
,=:;DAADL>C<9>H8JHH>DCD;E6GIH6C9H:GK>8:>HDC6H6B:HIDG:76H>H,=:9>;;:G:C8:7:IL::CG:EDGI:96BDJCIH6C9
H6B:HIDG:6BDJCIH>CI=:67DK:I67A:HD;B>AA>DC	
B>AA>DC	6C9B>AA>DC>CE6GIH6C9H:GK>8:G:K:CJ:
6C9B>AA>DC	B>AA>DC	6C9B>AA>DC>CE6GIH6C9H:GK>8:I;DG
	
	6C9
	G:HE:8I>K:AN	
>HG:A6I:9ID68FJ>H>I>DC6C99>K:HI>IJG:68I>K>IN	6HL:AA6HI=:DE:C>C<D;JID&6I>DC-+JH:9K:=>8A:HIDG:H	6H
6EEA>867A:>C6<>K:CN:6G
		+),.! 0+		

+6B:HIDG:E6GIH6C9H:GK>8:G:K:CJ:>C8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID>C8G:6H:H>CG:K:CJ:
6HHD8>6I:9L>I=L6GG6CINH:GK>8:D;B>AA>DC6C98JHIDB:G
E6NH:GK>8:D;
B>AA>DC	E6GI>6AAND;;H:I7N69:8G:6H:
>CL=DA:H6A:E6GIHH6A:HD;B>AA>DC
+6B:HIDG:E6GIH6C9H:GK>8:I>C8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID6C>C8G:6H:>C
I6HHD8>6I:9L>I=L6GG6CINH:GK>8:D;B>AA>DC6C98JHIDB:G
E6NH:GK>8:D;
B>AA>DC
(6GIH6C9H:GK>8:G:K:CJ:6C9I6HHD8>6I:9L>I=L6GG6CINH:GK>8:7:C:;>I:9;GDB>BEGDK:9E6GIH6C9A67DG
G6I:H	6C>C8G:6H:>CG:E6>GDG9:GKDAJB:	6C9=><=:GK6AJ:G:E6>GDG9:GHJHIDB:G
E6NG:K:CJ:6C9I7:C:;>I:9
;GDB=><=:GK6AJ:G:E6>GDG9:GH,=:>C8G:6H:H>CE6GIH6C9H:GK>8:G:K:CJ:6C9IL:G:E6GI>6AAND;;H:I7NI=:
#DJI6<:	L=>8=9>HGJEI:9DJGH6A:H6C9H:GK>8:EGD8:HH:H	G:HJAI>C<>C69:8G:6H:>CG:E6>GDG9:GKDAJB:6C9E6GIHH6A:H


/4'4)+'4*49;8'4)+
-3/?@;232313:03?
7;:7997<;@3E13=A=3?C367193
2/A/


C@	




C@	








*/?7/;13
/CI

	


	


 
	



GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	

	


 
	




-3/?@;232313:03?


C@	




C@	








*/?7/;13
/CI
 	
 	


  	
 	




GDHHEGD;>IE:GK:=>8A:G:I6>A:9

	

	


 
	

	



*:K:CJ:DC;>C6C8:6C9>CHJG6C8:EGD9J8IHG:EG:H:CIH8DBB>HH>DCH:6GC:97NJH;DGI=:EA68:B:CID;>AD6CH6C9
A:6H:HL>I=I=>G9
E6GIN;>C6C8>6A>CHI>IJI>DCH>C8DCC:8I>DCL>I=8JHIDB:GK:=>8A:EJG8=6H:H;>C6C8:9	>>K:=>8A:H:GK>8:
8DCIG68IHL>I=I=>G9
E6GINEGDK>9:GH	6C9>>>DI=:GK:=>8A:EGDI:8I>DCEGD9J8IHL>I=I=>G9
E6GINEGDK>9:GH/:H:AAI=:H:
EGD9J8IHDC68DBB>HH>DC76H>H	6C9L:6AHDE6GI>8>E6I:>CI=:;JIJG:JC9:GLG>I>C<EGD;>IDC8:GI6>CEGD9J8IHEJGHJ6CIID
G:IGDHE:8I>K:8DBB>HH>DC6GG6C<:B:CIHL>I=I=:>HHJ:GHD;I=DH:EGD9J8IH
HL:8DCI>CJ:IDDC>C6C8:7JH>C:HH6C9>C8G:6H:DJG;>C6C8:E:C:IG6I>DCG6I:H6HHD8>6I:9L>I=
K:=>8A:HHDA9I=GDJ<=DJGHIDG:H	L::ME:8II=6I>C8DB:G:A6I:9ID6GG6C<>C<8JHIDB:G;>C6C8>C<L>AAH=>;IIDJID&6I>DC
>C6C8:6C9I=6II=:G:HJAI>C<9:8G:6H:>C;>C6C8:6C9>CHJG6C8:IL>AA7:D;;H:I7NI67>A>IN<:C:G6I:9
7NDJGJID&6I>DC>C6C8:7JH>C:HH!CI:G:HI>C8DB:DC;>C6C8>C<EGDK>9:9I=GDJ<=JID&6I>DC>C6C8:>HG:8DO:9
DK:GI=:8DCIG68IJ6AI:GBD;I=:G:A6I:9AD6CH+::XJID&6I>DC>C6C8:Y;DG699>I>DC6A>C;DGB6I>DC
,=:;DAADL>C<9>H8JHH>DCD;;>C6C8:6C9>CHJG6C8:G:HJAIH>HDC6H6B:HIDG:76H>H,=:9>;;:G:C8:7:IL::CG:EDGI:9
6BDJCIH6C9H6B:HIDG:6BDJCIH>C;>C6C8:6C9>CHJG6C8:G:K:CJ:6C9I>CI=:67DK:I67A:HD;B>AA>DC	

B>AA>DC	6C9B>AA>DC;DG
	
	6C9
	G:HE:8I>K:AN	>HG:A6I:9ID68FJ>H>I>DC6C99>K:HI>IJG:68I>K>IN	6H
L:AA6HI=:DE:C>C<D;JID&6I>DC-+JH:9K:=>8A:HIDG:H	6H6EEA>867A:>C6<>K:CN:6G
		+),.! 0+		
+6B:HIDG:;>C6C8:6C9>CHJG6C8:G:K:CJ:6C9I9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	9J:ID
9:8G:6H:H>C;>C6C8:6C9>CHJG6C8:I(.*6C9JH:9K:=>8A:JC>IKDAJB:	E6GI>6AAND;;H:I7N6C>C8G:6H:>CC:L
K:=>8A:JC>IKDAJB:>C6C8:6C9>CHJG6C8:I(.*L6H69K:GH:AN>BE68I:97N6C>C8G:6H:>CG:I6>AK:=>8A:H6A:H
;>C6C8:9I=GDJ<=DJG86EI>K:6JID;>C6C8:8DBE6CN	6HL:AA6H69:8G:6H:>CEGD9J8IE:C:IG6I>DC	9G>K:C>CE6GI7NI=:#
DJI6<:	L=>8=9>HGJEI:9DJG;>C6C8:6C9>CHJG6C8:H6A:HEGD8:HH>C8AJ9>C<DJG67>A>INIDD;;:G8:GI6>CEGD9J8IH,=:
9:8G:6H:H>C;>C6C8:6C9>CHJG6C8:I(.*L:G:E6GI>6AAND;;H:I7N=><=:GG:6A>O:9B6G<>CHDC8:GI6>CK:=>8A:
EGDI:8I>DCEGD9J8IH


'35:3;A&3@B9A@
!CI=:;DAADL>C<I67A:D;;>C6C8>6A96I6	G:K:CJ:6C9H:C8DB:D;DJGG:EDGI67A:H:A:9ID
8DCHDA>96I:9G:K:CJ:6C98DCHDA>96I:9DE:G6I>C<>C8DB:	G:HE:8I>K:AN
-3/?@;232313:03?


C@	




C@	


7;:7997<;@






*/?7/;13
/C8

	


	


 
	



!BEDGI

	

	






	





(G:B>JB$JMJGN


	


	


 

	




,DI6AG6C8=>H:9:6A:GH=>EH

	

	



 
	




DGEDG6I:6C9DI=:G

	

	




	




,DI6A8DCHDA>96I:9G:K:CJ:
 	
 	



  	





'35:3;A7;1<:3
DB:HI>8







 




!BEDGI







 




(G:B>JB$JMJGN







 




,DI6AG6C8=>H:9:6A:GH=>EH

	


	


 
	



JID&6I>DC>C6C8:>C8DB:ADHH

 
 


 

DGEDG6I:6C9DI=:G

 
 


 

ADDGEA6C>CI:G:HI:ME:CH:











'E:G6I>C<>C8DB:

	


	



 
	




*:I6>AC:LK:=>8A:JC>IH6A:H
DB:HI>8

	

	

	


	

	


!BEDGI

	


	


	


	

	

(G:B>JB$JMJGN

	


	







	


	


	

	


	


	

	

*:I6>AJH:9K:=>8A:JC>IH6A:H
DB:HI>8

	

	

	

 
	

	



!BEDGI


	

	



 


	

	


(G:B>JB$JMJGN

	

	

	
 
	

	


'I=:G

	

	

	


	

	


	


	


	

 
	


	

+:C8DB:;DGI=:DB:HI>8	!BEDGI	6C9(G:B>JB$JMJGNG:EDGI67A:H:H6CDC
(B:6HJG:6C9>H9:;>C:96HDE:G6I>C<>C8DB:
A:HH;ADDGEA6C>CI:G:HI:ME:CH:
DBEG>H:9D;DJGCDC
;G6C8=>H:97JH>C:HH:H	>C8AJ9>C<JID&6I>DC-+JH:9K:=>8A:HIDG:H	8DAA>H>DC8:CI:GH	E6GIH9>HIG>7JI>DC8:CI:GH	6J8I>DC
DE:G6I>DCH	6C9JID&6I>DC%D7>A:+:GK>8:	6AAD;L=>8=9DCDIB::II=:FJ6CI>I6I>K:I=G:H=DA9H;DGG:EDGI67A:H:C8DB:ADHH6AHD>C8AJ9:HJC6AAD86I:98DGEDG6I:DK:G=:69:ME:CH:H6C9DI=:G>C8DB:>I:BH


53+9:/)
,=:DB:HI>8H:C<G:HJAIH>C8AJ9:9I=:;DAADL>C<
-3/?@;232313:03?


C@	




C@	


7;:7997<;@






*/?7/;13
/C8A:

	

	






	




-H:9K:=>8A:

	


	



 
	




(6GIH6C9H:GK>8:

	


	


 
	





>C6C8:6C9>CHJG6C8:	C:I








 





'I=:G









W
,DI6A*:K:CJ:

	


	


 
	



+:C8DB:







 




*:I6>AC:LK:=>8A:JC>IH6A:H

	

	

	


	

	


*:I6>AJH:9K:=>8A:JC>IH6A:H

	

	

	

 
	

	



		+),.! 0+		

DB:HI>8G:K:CJ:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID69:8G:6H:>CJH:9K:=>8A:G:K:CJ:6C9
I=:9>K:HI>IJG:HL:8DBEA:I:9>CI=:I=>G9FJ6GI:GD;
-H:9K:=>8A:G:K:CJ:L6H69K:GH:AN>BE68I:97N69:8G:6H:>C
JC>IKDAJB:9J:ID6H=>;I>CB>M;GDBJH:9K:=>8A:HIDC:LK:=>8A:H	6C969:8G:6H:>CG:K:CJ:(.*9J:ID6H=>;I>CB>M
IDL6G9HADL:G
EG>8:9:CIGN
A:K:AK:=>8A:H	L=>8==6K:G:A6I>K:ANADL:G6K:G6<:H:AA>C<EG>8:HDB:HI>8G:K:CJ:L6H6AHD
69K:GH:AN>BE68I:97NI=:#DJI6<:	L=>8=9>HGJEI:9DJGK:=>8A:H6A:H	>CK:CIDGN	6C98JHIDB:GG:A6I>DCH=>E
B6C6<:B:CI;JC8I>DCH>CI=:A6II:G=6A;D;"JC:
	6C9>IHG:H>9J6A:;;:8IH>CI=:I=>G9FJ6GI:GD;
,=:9:8G:6H:H>C
DB:HI>8G:K:CJ:L:G:E6GI>6AAND;;H:I7N6C>C8G:6H:>CC:LK:=>8A:JC>IKDAJB:6H6G:HJAID;I=:>C8G:6H>C<HJEEAN6C9
6K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN	6C>C8G:6H:>CB6CJ;68IJG:G>C8:CI>K:H	>C8AJ9>C<ADL
>CI:G:HI;>C6C8>C<6C9G:76I:H	
6C9HJHI6>C:98DCHJB:G9:B6C9
DB:HI>8H:C8DB:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID9:8G:6H:H>CC:LK:=>8A:I	JH:9K:=>8A:I	6C9;>C6C8:6C9>CHJG6C8:I&:LK:=>8A:IL6H69K:GH:AN>BE68I:9
7N8DCI>CJ:9BD9:G6I>DCD;B6G<>CHG:HJAI>C<;GDBI=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN-H:9
K:=>8A:IL6H69K:GH:AN>BE68I:97N6H=>;I>CB>MIDL6G9HADL:G
EG>8:9:CIGN
A:K:AK:=>8A:H	L=>8==6K:6
G:A6I>K:ANADL:G6K:G6<:I(.*	6C969:8G:6H:>CJH:9K:=>8A:JC>IKDAJB:9J:>CE6GIIDI=:H=>;I>CB>M;GDB
JH:9K:=>8A:HIDC:LK:=>8A:H>C6C8:6C9>CHJG6C8:IL6H69K:GH:AN>BE68I:97NI=:9:8G:6H:>CJH:9K:=>8A:
JC>IKDAJB:6C96C>C8G:6H:>CG:I6>AK:=>8A:H6A:H;>C6C8:9I=GDJ<=DJG86EI>K:6JID;>C6C8:8DBE6CNDB:HI>8H:C8DB:L6H6AHD69K:GH:AN>BE68I:97N9:8G:6H:H>CIG:HJAI>C<;GDBI=:#DJI6<:


3658:
,=:!BEDGIH:C<G:HJAIH>C8AJ9:9I=:;DAADL>C<
-3/?@;232313:03?


C@	




C@	


7;:7997<;@






*/?7/;13
/C8A:

	



	






	





-H:9K:=>8A:

	

	


 
	




(6GIH6C9H:GK>8:

	

	





	





>C6C8:6C9>CHJG6C8:	C:I








 






'I=:G










,DI6A*:K:CJ:

	

	






	





+:C8DB:







 




*:I6>AC:LK:=>8A:JC>IH6A:H

	


	


	


	

	

*:I6>AJH:9K:=>8A:JC>IH6A:H


	

	



 


	

	


		+),.! 0+		

!BEDGIG:K:CJ:>C8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID>C8G:6H:H>CC:LK:=>8A:G:K:CJ:6C9
E6GIH6C9H:GK>8:G:K:CJ:	E6GI>6AAND;;H:I7N69:8G:6H:>CJH:9K:=>8A:G:K:CJ:&:LK:=>8A:G:K:CJ:7:C:;>I:9;GDB6C
>C8G:6H:>CC:LK:=>8A:JC>IKDAJB:9J:IDI=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN6C9HJHI6>C:9
8DCHJB:G9:B6C9(6GIH6C9H:GK>8:G:K:CJ:7:C:;>I:9;GDB>C8G:6H:H>CG:K:CJ:6HHD8>6I:9L>I=L6GG6CINH:GK>8:6C9I=:
EG:E6G6I>DCD;K:=>8A:H;DGH6A:-H:9K:=>8A:G:K:CJ:L6H69K:GH:AN>BE68I:97N69:8G:6H:>CJH:9K:=>8A:G:K:CJ:(.*
9J:IDI=:H=>;I>CB>MIDL6G9HADL:G
EG>8:9:CIGN
A:K:AJH:9K:=>8A:H	L=>8==6K:G:A6I>K:ANADL:G6K:G6<:H:AA>C<EG>8:H
!BEDGIG:K:CJ:L6H6AHD69K:GH:AN>BE68I:97NI=:#DJI6<:	L=>8=9>HGJEI:9DJGK:=>8A:H6A:H	>CK:CIDGN	6C9
8JHIDB:GG:A6I>DCH=>EB6C6<:B:CI;JC8I>DCH>CI=:A6II:G=6A;D;"JC:
	6C9>IHG:H>9J6A:;;:8IH>CI=:I=>G9FJ6GI:GD;


!BEDGIH:C8DB:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID69:8G:6H:>CC:LK:=>8A:I(.*9J:ID8DCI>CJ:9BD9:G6I>DCD;B6G<>CHG:HJAI>C<;GDBI=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:
>CK:CIDGN!BEDGIH:C8DB:L6H69K:GH:AN>BE68I:97N6C>C8G:6H:>C+:ME:CH:H	A6G<:AN9J:IDI=:
68FJ>H>I>DCHL:8DBEA:I:9>C
6C9I=:DC:
I>B:8DBE:CH6I>DCE6>9ID8DBB>HH>DC
76H:96HHD8>6I:H9JG>C<I=:#
DJI6<:	6HL:AA6H9:8G:6H:H>CIG:HJAI>C<;GDBI=:#DJI6<:


8+3/;3;>;8?
,=:(G:B>JB$JMJGNH:C<G:HJAIH>C8AJ9:9I=:;DAADL>C<
-3/?@;232313:03?


C@	




C@	


7;:7997<;@






*/?7/;13
/C8A:

	


	



 
	



-H:9K:=>8A:

	


	


 
	




(6GIH6C9H:GK>8:

	

	




	





>C6C8:6C9>CHJG6C8:	C:I






 




'I=:G












,DI6A*:K:CJ:
 
	
 
	


  
	




+:C8DB:







 




*:I6>AC:LK:=>8A:JC>IH6A:H

	


	







	


	

*:I6>AJH:9K:=>8A:JC>IH6A:H

	

	

	
 
	

	


		+),.! 0+		

(G:B>JB$JMJGNG:K:CJ:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID9:8G:6H:H>CC:L6C9JH:9
K:=>8A:G:K:CJ:&:LK:=>8A:G:K:CJ:L6H69K:GH:AN>BE68I:97NI=:8DCI>CJ:9BD9:G6I>DCD;EG>8>C<G:HJAI>C<;GDBI=:
>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN-H:9K:=>8A:G:K:CJ:L6H69K:GH:AN>BE68I:97N69:8G:6H:>C
JC>IKDAJB:9J:IDI=:H=>;I>CB>M;GDBJH:9K:=>8A:HIDC:LK:=>8A:H	6C969:8G:6H:>CG:K:CJ:(.*9J:IDI=:H=>;I>C
B>MIDL6G9HADL:G
EG>8:9:CIGN
A:K:AJH:9K:=>8A:H	L=>8==6K:G:A6I>K:ANADL:G6K:G6<:H:AA>C<EG>8:H(G:B>JB$JMJGN
G:K:CJ:L6H6AHD69K:GH:AN>BE68I:97NI=:#DJI6<:	L=>8=9>HGJEI:9DJGK:=>8A:H6A:H	>CK:CIDGN	6C98JHIDB:G
G:A6I>DCH=>EB6C6<:B:CI;JC8I>DCH>CI=:A6II:G=6A;D;"JC:
	6C9>IHG:H>9J6A:;;:8IH>CI=:I=>G9FJ6GI:GD;
,=:
9:8G:6H:H>C(G:B>JB$JMJGNG:K:CJ:L:G:E6GI>6AAND;;H:I7N>C8G:6H:H>CE6GIH6C9H:GK>8:G:K:CJ:6HHD8>6I:9L>I=
L6GG6CINH:GK>8:6C98JHIDB:G
E6NH:GK>8:
(G:B>JB$JMJGNH:C8DB:9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID69:8G:6H:>CC:L
K:=>8A:I&:LK:=>8A:IL6H69K:GH:AN>BE68I:97N69:8G:6H:>CC:LK:=>8A:I(.*9J:ID
8DCI>CJ:9BD9:G6I>DCD;B6G<>CHG:HJAI>C<;GDBI=:>C8G:6H>C<HJEEAN6C96K6>A67>A>IND;C:LK:=>8A:>CK:CIDGN(G:B>JB
$JMJGNH:C8DB:L6H6AHD69K:GH:AN>BE68I:97N6C>C8G:6H:>C;ADDGEA6C>CI:G:HI:ME:CH:6C99:8G:6H:H>CIG:HJAI>C<;GDBI=:#DJI6<:


;:5':/54/4'4)+
JID&6I>DC>C6C8:X&Y	DJG86EI>K:6JID;>C6C8:8DBE6CN	EGDK>9:H>C9>G:8I;>C6C8>C<IDFJ6A>;>:9G:I6>A
8JHIDB:GHDCK:=>8A:HL:H:AA,=>H7JH>C:HHEGDK>9:HJH6CDEEDGIJC>INID:MI:C9DJGG:A6I>DCH=>EL>I=I=:8JHIDB:G
7:NDC9I=:K:=>8A:H6A:6C9E6GI>8>E6I:>CI=:8JHIDB:GZH:CI>G:K:=>8A:DLC:GH=>E8N8A:H6G:HJAI	L:6G:67A:ID
9>K:GH>;NDJGHDJG8:HD;>C8DB:	<:C:G6I:699>I>DC6AEGD;>IH	86H=;ADLH	6C9H6A:H	6C9>C8G:6H:8JHIDB:GG:I:CI>DC(G>DGID
'8ID7:G
	&6AHDEJG8=6H:9G:I6>AK:=>8A:>CHI6AAB:CIH6A:H8DCIG68IHI=GDJ<=I=>G9
E6GIN9:6A:GH
&>C8DB:ADHH>C8AJ9:HI=:>CI:G:HI6C9;::>C8DB:<:C:G6I:97N6JIDAD6CHG:8:>K67A:A:HHI=:>CI:G:HI:ME:CH:
6HHD8>6I:9L>I=I=:9:7I>HHJ:9DGJH:9ID;JC9I=:H:G:8:>K67A:H	6EGDK>H>DC;DG:HI>B6I:98G:9>IADHH:HDCI=:6JIDAD6CH
G:8:>K67A:DG><>C6I:9DG68FJ>G:9	9>G:8I:ME:CH:H	6C9<6>CHDGADHH:HDCI=:H6A:D;6JIDAD6CHG:8:>K67A:!CI:G:HI>C8DB:
DC6JIDAD6CHG:8:>K67A:>HG:8DO:9DK:GI=:8DCIG68IJ6AI:GBD;I=:G:A6I:9AD6CH&>C8DB:ADHH9D:HCDI>C8AJ9:
6BDGI>O6I>DCD;>CI:G8DBE6CN9>H8DJCIHDG>CI:G8DBE6CN9:6A:GE6GI>8>E6I>DC;::H,=:;DAADL>C<I67A:EG:H:CIHI=:
8DBEDC:CIHD;&>C8DB:ADHH












!CI:G:HIB6G<>C
!CI:G:HI6C9;::>C8DB:


 



 



!CI:G:HI:ME:CH:


 


 


,DI6A>CI:G:HIB6G<>C



 

 


(GDK>H>DC;DG8G:9>IADHH:H


 
  


&%
,DI6A>CI:G:HIB6G<>C6;I:GEGDK>H>DC
;DGAD6CADHH:H


 

 

&%
>G:8I:ME:CH:H



 

 
 

6>CDCH6A:D;6JIDAD6CHG:8:>K67A:



 


 
W
W
JID&6I>DC>C6C8:>C8DB:ADHH


 

 

&%
&%
&DIB:6C>C<;JA
(:G8:CI6<:D;IDI6A6K:G6<:B6C6<:9G:8:>K67A:H6CCJ6A>O:96BDJCIH;DG

>G:8I:ME:CH:H6G:8DBEG>H:9EG>B6G>AND;8DBE:CH6I>DC:ME:CH:H6C9AD6C69B>C>HIG6I>DC8DHIH>C8JGG:97NDJG6JID;>C6C8:
8DBE6CN
		+),.! 0+		

&ADHH9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID>C8G:6H:9>CI:G:HI>C8DB:;GDBI=:C
B6C6<:9G:8:>K67A:H6C969:8A>C>C<:ME:8I:98G:9>IADHHG6I:%6C6<:9G:8:>K67A:H>C8G:6H:99JG>C<I=:N:6G6HL:
8DCI>CJ:IDC:HH6C9>C8G:6H:DJG;>C6C8:E:C:IG6I>DCG6I:H6HHD8>6I:9L>I=K:=>8A:HHDA9I=GDJ<=DJG
HIDG:H,=:9:8A>C>C<:ME:8I:98G:9>IADHHG6I:G:;A:8IHI=:>BEGDK:98G:9>IFJ6A>IND;C:LAD6CDG><>C6I>DCH6C9I=:H6A:D;
I=>G9
E6GING:8:>K67A:HDG><>C6I:9I=GDJ<=I=>G9
E6GIN9:6A:GH!C699>I>DC	&8DCI>CJ:HIDG:6A>O:DE:G6I>DC6A:;;>8>:C8>:H
6HI=:EDGI;DA>DH86A:H	G:HJAI>C<>CG:9J8:99>G:8I:ME:CH:H6H6E:G8:CI6<:D;I=:B6C6<:9EDGI;DA>D
		
+),.! 0+			
/:68FJ>G:9!>C6C8>6A	L=>8=L:G:C6B:9JID&6I>DC>C6C8:	DC'8ID7:G	
&ADHH9:8G:6H:99JG>C<

	6H8DBE6G:9ID
	6H
G:;A:8IHI=:>C>I>6A8G:9>IADHH:ME:CH:D;B>AA>DC6HHD8>6I:9L>I=I=:6JIDAD6C
EDGI;DA>D68FJ>G:9>C
!CI:G:HIB6G<>C>C8G:6H:9>C
	6H8DBE6G:9ID
	6H
G:;A:8IH6;JAA86A:C96GN:6GD;
68I>K>IN6H8DBE6G:9IDDC:FJ6GI:GD;68I>K>IN>C
	6HL:AA6HI=:CB6C6<:9G:8:>K67A:H


,=:;DAADL>C<I67A:HEG:H:CIH:A:8I:9AD6CDG><>C6I>DC6C9AD6CE:G;DGB6C8:>C;DGB6I>DC









 <>C6I:9

	






.:=>8A:JC>IH;>C6C8:9
	
	
	
(:C:IG6I>DCG6I:





/:><=I:96K:G6<:8DCIG68IG6I:



/:><=I:96K:G6<:8G:9>IH8DG:



/:><=I:96K:G6<:AD6C
ID
K6AJ:







/:><=I:96K:G6<:I:GB>CBDCI=H



-C>IH;>C6C8:96H6E:G8:CI6<:D;IDI6AC:L6C9JH:9K:=>8A:G:I6>AJC>IHHDA9
*:EG:H:CIHL:><=I:96K:G6<:!'H8DG:H;DGG:8:>K67A:HL>I=D7A>B:
D;6EEA>86I>DCDGG:8:>K67A:HL>I=8D
7DGGDL:GH	L:JH:I=:EG>B6GN7DGGDL:GZH!'H8DG:!'H8DG:H
6G:CDI6H>;>86CI;68IDG>CDJGEGDEG>:I6GN8G:9>IBD9:A	L=>8=G:A>:HDC>C;DGB6I>DC;GDB8G:9>I7JG:6JH
6C9DI=:G>C;DGB6I>DC
GDCI
:C9AD6C
ID
K6AJ:G:EG:H:CIHI=:G6I>DD;I=:6BDJCI;>C6C8:9IDI=:IDI6A8DAA6I:G6AK6AJ:	L=>8=>H
B:6HJG:96HI=:K:=>8A:H:AA>C<EG>8:EAJH6EEA>867A:I6M:H	I>IA:	6C9;::H









 K67A:H







AADL6C8:;DG8G:9>IADHH:H6H6E:G8:CI6<:D;:C9>C<
B6C6<:9G:8:>K67A:H





&:I8G:9>IADHH:HDCB6C6<:9G:8:>K67A:H








CCJ6A>O:9C:I8G:9>IADHH:H6H6E:G8:CI6<:D;IDI6A6K:G6<:
B6C6<:9G:8:>K67A:H




(6HI9J:688DJCIH6H6E:G8:CI6<:D;:C9>C<B6C6<:9
G:8:>K67A:H



K:G6<:G:8DK:GNG6I:



*:EG:H:CIHI=:6K:G6<:E:G8:CI6<:D;I=:DJIHI6C9>C<EG>C8>E6A76A6C8:L:G:8:>K:L=:C6K:=>8A:>H
G:EDHH:HH:96C9A>FJ>96I:9	<:C:G6AAN6IL=DA:H6A:6J8I>DCH
/:INE>86AANJH:CDC
G:8DJGH:;JC9>C<;68>A>I>:H	>C8AJ9>C<L6G:=DJH:;68>A>I>:H6C96HH:I
768@:9I:GB;JC9>C<
IG6CH68I>DCH	6HL:AA6H;G::86H=;ADLH;GDBDE:G6I>DCHID;JC9I=:6JIDAD6CHG:8:>K67A:D;&+::&DI:H6C9D;I=:
&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC67DJIDJG6JIDAD6CHG:8:>K67A:H6C9G:A6I:9CDC
G:8DJGH:
9:7I	G:HE:8I>K:AN


'3997;53;3?/9/;22:7;7@A?/A7C3E=3;@3@
'JG+:ME:CH:H8DCH>HIEG>B6G>AND;8DBE:CH6I>DC	>C8AJ9>C<HIDG:6C98DGEDG6I:H6A6G>:H	8DBB>HH>DCH	6C9
>C8:CI>K:
76H:98DBE:CH6I>DC	6HL:AA6H69K:GI>H>C<C:ID;G:>B7JGH:B:CI
76H:9B6CJ;68IJG:G69K:GI>H>C<G:76I:H	6C9
HIDG:6C98DGEDG6I:DK:G=:69:ME:CH:H	L=>8=>C8AJ9:D88JE6C8N8DHIH	DJIH>9:H:GK>8:8DHIH	>C;DGB6I>DCI:8=CDAD8:AD6C:G6C9G:CI6A>CK:CIDGN:ME:CH:H	A:<6A	688DJCI>C<	6C9EGD;:HH>DC6AH:GK>8:H	6C9<:C:G6A8DGEDG6I:
:ME:CH:H,=:;DAADL>C<I67A:EG:H:CIHI=:B6?DG8DBEDC:CIHD;DJG+
-3/?@;232313:03?


C@	




C@	


7;:7997<;@






*/?7/;13
/CDC
 	

 	




 	




9K:GI>H>C<







 




+IDG:6C98DGEDG6I:DK:G=:69









 






,DI6A
 	
 	




  	




'/@/<4ADC




 7EH


 7EH
9K:GI>H>C<



 7EH


 7EH
+IDG:6C98DGEDG6I:DK:G=:69



 7EH


 7EH
,DI6A



 7EH


 7EH
		+),.! 0+		

+:ME:CH:HHA><=IAN>C8G:6H:9>C
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID8:GI6>CDC:
I>B:8DBE:CH6I>DCD;
6EEGDM>B6I:ANB>AA>DCE6>9ID8DBB>HH>DC
76H:96HHD8>6I:HID:CHJG:7JH>C:HH8DCI>CJ>IN6H6G:HJAID;I=:#
DJI6<:	68FJ>H>I>DCH6C9C:LANDE:C:9HIDG:H	6C>C8G:6H:>CIG6CHEDGI6I>DC
G:A6I:98DHIH;DGE6GIH6C9H:GK>8:8JHIDB:GH	
6C96C>C8G:6H:>C69K:GI>H>C<:ME:CH:HIDHJEEDGIK:=>8A:H6A:H,=:>C8G:6H:H>C+:ME:CH:HL:G:E6GI>6AAND;;H:I7N6
9:8G:6H:>CE:G;DGB6C8:
9G>K:C8DBE:CH6I>DC:ME:CH:HE6GIANG:HJAI>C<;GDBI=:#DJI6<:	L=>8=9>HGJEI:9DJGH6A:H
6C9H:GK>8:EGD8:HH:H	6C99>K:HI>IJG:HH6E:G8:CI6<:D;IDI6AI	+:ME:CH:H>C8G:6H:9ID9JG>C<

	;GDB>C
	EG>B6G>AN9J:IDBD9:G6I>DCD;I	6HL:AA6HI=:9:8G:6H:>CIG:HJAI>C<
;GDBI=:#DJI6<:6C9I=:DC:
I>B:8DBE:CH6I>DCE6>9ID8DBB>HH>DC
76H:96HHD8>6I:H9JG>C<I=:N:6G
#A63?;1<:3"3A#=3?/A7;5
'I=:G!C8DB:	&:I>C8AJ9:HI=:<6>CHDGADHH:H6HHD8>6I:9L>I=7JH>C:HHEGDE:GIN9>K:HI>IJG:H	A:<6AH:IIA:B:CIH	6C9
6HH:I>BE6>GB:CIH	6BDC<DI=:G>I:BH
JG>C<
	L:G:8DO:9C:I<6>CHD;B>AA>DCG:A6I:9ID7JH>C:HHEGDE:GIN9>K:HI>IJG:H	L=>8=L:G:E6GI>6AAN
D;;H:I7N6HH:I>BE6>GB:CIHD;B>AA>DC
"<;#=3?/A7;5;1<:3E=3;@3@
255862'44:+8+9:>6+49+
ADDGEA6C>CI:G:HIG6I:H6G:K6G>67A:6C9	I=:G:;DG:	>C8G:6H:6C99:8G:6H:L>I=8=6C<:H>CI=:JC9:GAN>C<7:C8=B6G@
>CI:G:HIG6I:H
ADDGEA6C>CI:G:HI:ME:CH:L6HB>AA>DC>C
6C9B>AA>DC>C
,=:>C8G:6H:>C;ADDGEA6C>CI:G:HI
:ME:CH:D;B>AA>DC>C
	6H8DBE6G:9ID
	L6HEG>B6G>AN9J:ID=><=:G6K:G6<:K:=>8A:;ADDGEA6C76A6C8:H


4:+8+9:>6+49+
'I=:G>CI:G:HI:ME:CH:>C8AJ9:HI=:>CI:G:HIG:A6I:9IDCDC
K:=>8A:ADC<
I:GB9:7I	8DBB:G8>6AE6E:G	6C9;>C6C8:A:6H:
D7A><6I>DCH'I=:G>CI:G:HI:ME:CH:L6HB>AA>DC>C
8DBE6G:9IDB>AA>DC>C
,=:9:8G:6H:>C
>CI:G:HI:ME:CH:D;B>AA>DCL6H9G>K:C7NADL:G6K:G6<:>CI:G:HIG6I:H	E6GI>6AAND;;H:I7N=><=:G6K:G6<:9:7I76A6C8:H
:.+84)53+599+:
JG>C<
6C9
	L:G:8DO:9C:I<6>CHD;B>AA>DC6C9B>AA>DC	G:HE:8I>K:AN	G:A6I:9ID8=6C<:H>C
I=:86H=HJGG:C9:GK6AJ:D;8DGEDG6I:
DLC:9A>;:>CHJG6C8:X'$!Y;DG9:;:GG:98DBE:CH6I>DCEA6CE6GI>8>E6CIH6H6G:HJAI
D;8=6C<:H>CB6G@:IE:G;DGB6C8:D;I=:JC9:GAN>C<>CK:HIB:CIH6>CH6C9ADHH:HG:A6I:9IDI=:'$!6G:HJ7HI6CI>6AAN
D;;H:I7N8DGG:HEDC9>C<>C8G:6H:H6C99:8G:6H:H	G:HE:8I>K:AN	>CI=:9:;:GG:98DBE:CH6I>DCD7A><6I>DCH	L=>8=6G:G:;A:8I:9
>C+:ME:CH:H
JG>C<
6C9
	L:G:8DG9:96C:IJCG:6A>O:9ADHHD;
B>AA>DC6C96C:IJCG:6A>O:9<6>CD;B>AA>DC	
G:HE:8I>K:AN	G:A6I:9IDI=:8=6C<:>C;6>GK6AJ:D;I=:JC9:GAN>C<H:8JG>I>:HD;DJGB>CDG>IN:FJ>IN>CK:HIB:CIHJG>C<I=:
E:G>D9I=6IL:=DA9DJGB>CDG>IN:FJ>IN>CK:HIB:CIH	JCG:6A>O:9<6>CH6C9ADHH:HL>AA7:G:8DG9:96HI=:;6>GB6G@:IK6AJ:H
D;H:8JG>I>:HL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:H8=6C<:DK:GI>B:	DG6HD7H:GK67A:EG>8:8=6C<:H6G:>9:CI>;>:9;DG
H:8JG>I>:HL>I=DJIG:69>AN9:I:GB>C67A:;6>GK6AJ:H+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:
>C;DGB6I>DC
4)53+'>859:976H:9JEDCDJG6CI>8>E6I:9JC9:GAN>C<6CCJ6A7A:C9:9;:9:G6A6C9HI6I:>C8DB:I6MG6I:H	
69?JHI:9	6HC:8:HH6GN	;DG6CN9>H8G:I:I6MB6II:GHD88JGG>C<9JG>C<I=:E:G>D9HL:DE:G6I:>CK6G>DJHHI6I:H	DJG
:;;:8I>K:I6MG6I:>H6AHD9:E:C9:CIJEDCDJG<:D8G:K:CJ:B>M'JG:;;:8I>K:>C8DB:I6MG6I:L6H>C
6C9
>C

7@1<;A7;B32#=3?/A7<;@
>H8DCI>CJ:9DE:G6I>DCH6G:G:A6I:9IDHIDG:HI=6IL:G:HDA9DGI:GB>C6I:9EG>DGID"6CJ6GN	
*:HJAIH;GDB
9>H8DCI>CJ:9DE:G6I>DCH	C:ID;>C8DB:I6M:H	L:G:EG>B6G>ANG:A6I:9ID6<6>CDCI=:H6A:D;G:6A:HI6I:>CI=:;>GHIFJ6GI:GD;

6HHD8>6I:9L>I=6HIDG:I=6IL6H8ADH:9EG>DGID"6CJ6GN	

 7>B727AF/;2/=7A/9&3@FJ>9>INID:CHJG:688:HHIDHJ;;>8>:CI;JC9>C<6I688:EI67A:8DHIHID;JC9DJGDCC<DE:G6I>C<
G:FJ>G:B:CIH6C9;JIJG:86E>I6A:ME:C9>IJG:HL=>A:8DCI>CJ>C<IDB::IDJG;>C6C8>6AD7A><6I>DCH/:7:A>:K:I=6IDJG86H=
6C986H=:FJ>K6A:CIH	;JC9H<:C:G6I:9I=GDJ<=DE:G6I>DCH	6C96BDJCIH6K6>A67A:JC9:GDJGG:KDAK>C<8G:9>I;68>A>IN	
8DBB:G8>6AE6E:GEGD8A:;ADDGEA6C;68>A>I>:H	6C9CDC
G:8DJGH:L6G:=DJH:;68>A>I>:HL>AA7:
HJ;;>8>:CIID;JC9DJGLDG@>C<86E>I6AG:FJ>G:B:CIH	;JC9I=:DG><>C6I>DCD;6JIDAD6CHG:8:>K67A:	H:GK>8:DJG9:7I	E6NDJG
I6MD7A><6I>DCH6C98DBB>IB:CIH6C98DCI>C<:C8>:H	6C9B::I6CNH:6HDC6ADE:G6I>C<G:FJ>G:B:CIH;DGI=:;DG:H::67A:
;JIJG::E:C9>C<DCB6G@:I8DC9>I>DCH	L:B6N;GDBI>B:IDI>B:>HHJ:9:7I	>C8AJ9>C<>CEG>K6I:DGEJ7A>8D;;:G>CFJ>9>IN	IDG:9J8:DJG8DHID;86E>I6A	DG;DG<:C:G6A8DGEDG6I:EJGEDH:H!C699>I>DC	L:B6NH::@ID
H:8JG>I>O:6JIDAD6CHG:8:>K67A:IDEGDK>9:;JC9>C<;DGDJG6JID;>C6C8:8DBE6CN


<'/2'(2+/7;/*/:?+95;8)+9
/:=69I=:;DAADL>C<HDJG8:HD;A>FJ>9>IN6K6>A67A:;DGI=:N:6GH:C9:9:8:B7:G	
6C9

;:7997<;@
313:03?



313:03?



6H=6C986H=:FJ>K6A:CIH





*:KDAK>C<8G:9>I;68>A>IN

	  
	
+:8JG:9JH:9K:=>8A:;ADDGEA6C;68>A>I>:H






&DC
G:8DJGH:L6G:=DJH:;68>A>I>:H



W
 I:8:B7:G	
	L:=69
B>AA>DCD;A:II:GHD;8G:9>IDJIHI6C9>C<!C699>I>DC	L:JH:I=:G:KDAK>C<
8G:9>I;68>A>INJC9:GDJG8G:9>I6FJ>9>IN768@HIDE;DG7DGGDL>C6AE6E:G
EGDAA>DCD;8DBB:G8>6AE6E:GCDI:HDJIHI6C9>C<6I:8:B7:G	
+::&DI:D;
I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG699>I>DC6A>C;DGB6I>DC

6H:9DCI=::A><>7A:JH:9K:=>8A:>CK:CIDGNI=6I8DJA9=6K:7::CEA:9<:96H8DAA6I:G6A+::&DI:D;I=:&DI:H
IDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG699>I>DC6A>C;DGB6I>DC

6H:9DCI=::A><>7A:6JIDAD6CHG:8:>K67A:I=6I=6K:7::CEA:9<:96H8DAA6I:G6A+::&DI:D;I=:&DI:HID
DCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG699>I>DC6A>C;DGB6I>DC
!CI=:DG9>C6GN8DJGH:D;7JH>C:HH	L:6G:G:FJ>G:9IDEDHIE:G;DGB6C8:6C9HJG:IN7DC9H	A:II:GHD;8G:9>I	6C9DG86H=
9:EDH>IH6H;>C6C8>6AB6G>ANG:A6I>C<ID>CHJG6C8:B6II:GHI:8:B7:G	
	HJG:IN
7DC9H	A:II:GHD;8G:9>I	6C986H=9:EDH>IHIDI6A:9B>AA>DC	>C8AJ9>C<I=:
B>AA>DCD;A:II:GHD;8G:9>I>HHJ:9JC9:G
DJGG:KDAK>C<8G:9>I;68>A>IN/:9DCDI8JGG:CIANEGDK>9:86H=8DAA6I:G6A;DGDJIHI6C9>C<A:II:GHD;8G:9>I
!C:7GJ6GN
	L:;>A:96C6JIDB6I>8H=:A;G:<>HIG6I>DCHI6I:B:CIL>I=I=:+I=6I:C67A:HJHIDD;;:G;DGH6A:	;GDB
I>B:IDI>B:6C96HI=:86E>I6AB6G@:IHE:GB>I	6CJCHE:8>;>:96BDJCID;8DBBDCHID8@	EG:;:GG:9HID8@	9:7IH:8JG>I>:H	
L6GG6CIH	HJ7H8G>EI>DCG><=IH	9:EDH>I6GNH=6G:H	HID8@EJG8=6H:8DCIG68IH	6C9JC>IH
!C699>I>DC	L:DLC6H>;>86CIEDGI>DCD;DJGC:LK:=>8A:;G6C8=>H:HIDG:AD86I>DCH6C9DI=:GAD86I>DCH6HHD8>6I:9
L>I=DJGCDC
;G6C8=>H:97JH>C:HH:H	6HL:AA6HDI=:GEGDE:GI>:HI:8:B7:G	
	I=:H:EGDE:GI>:H=696C:I7DD@
K6AJ:D;7>AA>DC&DC:D;I=:H:EGDE:GI>:H6G:BDGI<6<:9DG:C8JB7:G:9
'6/:'2225)':/54
'JG86E>I6A6AAD86I>DCHIG6I:H;D8JH:9DCC<ADC<
I:GBK6AJ:E:GH=6G:/:>CK:HI86E>I6A>CDJG7JH>C:HHID
B6>CI6>C6C9JEHI>C<;68>A>I>:H6C9ID7J>A9C:L;68>A>I>:H;DG:M>HI>C<;G6C8=>H:H6C9C:LJID&6I>DC-+
JH:9K:=>8A:HIDG:H	6HL:AA6H;DGDI=:GHIG6I:<>86C9I:8=CDADC>I>6I>K:H/:6AHD9:EADN86E>I6ADEEDGIJC>HI>86AANID
8DBEA:I:68FJ>H>I>DCHDG>CK:HIB:CIH	7J>A9;68>A>I>:H;DGC:LAN6L6G9:9;G6C8=>H:H	6C9DGG:EJG8=6H:DJG8DBBDCHID8@
6C9DG9:7I'JG86E>I6A6AAD86I>DC9:8>H>DCH6G:76H:9DC;68IDGHHJ8=6HI=::ME:8I:9G6I:D;G:IJGCDCDJG>CK:HIB:CI	I=:
B6G@:IEG>8:D;DJG8DBBDCHID8@K:GHJHDJGK>:LD;>IH>CIG>CH>8K6AJ:	I=:B6G@:IEG>8:D;DJG9:7I	I=:EDI:CI>6A>BE68I
DCDJG86E>I6AHIGJ8IJG:	DJG67>A>INID8DBEA:I:68FJ>H>I>DCHI=6IB::IDJGHIG6I:<>8D7?:8I>K:H	B6G@:I6C9K:=>8A:7G6C9
8G>I:G>6	6C9DGG:IJGCDC>CK:HIB:CII=G:H=DA9	6C9A>B>I6I>DCHH:I;DGI=>CDJG9:7I6G:8IDGH;GDBI>B:IDI>B:6JI=DG>O:HI=:G:EJG8=6H:D;H=6G:HD;DJG8DBBDCHID8@JEID68:GI6>C
BDC:I6GNA>B>IHJBB6GND;H=6G:HG:EJG8=6H:9JC9:GDJGH=6G:G:EJG8=6H:EGDO:97NDJGD6G9D;
>G:8IDGH;DAADLH
;:7997<;@3E13=A=3?@6/?32/A/









+=6G:HG:EJG8=6H:9

 
 

<8:



 
 
	

K:G6<:EJG8=6H:EG>8:E:GH=6G:


 
 


M8AJ9:HI=::M8>H:I6M688GJ6A>BEDH:9JC9:GI=:!C;A6I>DC*:9J8I>DC8ID;B>AA>DC;DG
6C9B>AA>DC;DG

,=:9:8>H>DCIDG:EJG8=6H:H=6G:H6I6CN<>K:CED>CI>CI>B:>H76H:9DCHJ8=;68IDGH6HI=:B6G@:IEG>8:D;DJG8DBBDC
HID8@K:GHJHDJGK>:LD;>IH>CIG>CH>8K6AJ:	I=:EDI:CI>6A>BE68IDCDJG86E>I6AHIGJ8IJG:>C8AJ9>C<8DBEA>6C8:L>I=DJG
B6M>BJBA:K:G6<:G6I>D	B>C>BJB>CI:G:HI8DK:G6<:G6I>D	6C9DI=:G;>C6C8>6A8DK:C6CIH>CDJG9:7I6A67A:A>FJ>9>IN	6C9I=::ME:8I:9G:IJGCDC8DBE:I>C<JH:HD;86E>I6AHJ8=6H68FJ>H>I>DCHDG>CK:HIB:CIH	86E>I6A
>CK:HIB:CIH>CDJG8JGG:CI7JH>C:HH:H	DGG:EJG8=6H:HD;DJG9:7I
HD;:8:B7:G	
	
B>AA>DCG:B6>C:96K6>A67A:JC9:GDJGHID8@G:EJG8=6H:A>B>IBDHIG:8:CIAN6JI=DG>O:9
7NDJGD6G9D;>G:8IDGH
,%0(4,!* %01.!/
,=:;DAADL>C<I67A:H:IH;DGI=>C;DGB6I>DCG:<6G9>C<DJG86E>I6A:ME:C9>IJG:HDK:GI=:E6HII=G::N:6GH
;:7997<;@









(JG8=6H:HD;EGDE:GIN6C9:FJ>EB:CI

 

 



-1%/%0%+*/* %2!/0%01.!/
JG>C<
	L:9>9CDIEJG8=6H:6CNHIDG:HJG>C<
	L:68FJ>G:9*:E6>G+B>I=	6BD7>A:HDAJI>DC;DG6JIDBDI>K:
G:E6>G6C9B6>CI:C6C8:	L=>8=L:G:C6B:9JID&6I>DC%D7>A:+:GK>8:	6C9L:6AHDEJG8=6H:9DC:DB:HI>8HIDG:	;>K:
!BEDGIHIDG:H	6C9DC:(G:B>JB$JMJGNHIDG:JG>C<
	L:68FJ>G:9!>C6C8>6A	6C6JID;>C6C8:8DBE6CN	L=>8=
L:G:C6B:9JID&6I>DC>C6C8:	6C9L:6AHDEJG8=6H:9I=G::DB:HI>8HIDG:H6C9DC:!BEDGIHIDG:
/:9>K:HI:9H:K:CDB:HI>8HIDG:H6C9DC:!BEDGIHIDG:9JG>C<
/:9>K:HI:9DC:DB:HI>8HIDG:9JG>C<

/:9>K:HI:9I=G::(G:B>JB$JMJGNHIDG:H9JG>C<

;:7997<;@









6H=JH:9>C7JH>C:HH68FJ>H>I>DCH	C:I

W 
 

6H=G:8:>K:9;GDB7JH>C:HH9>K:HI>IJG:H	C:I


 
 

M8AJ9:H;>C6C8:A:6H:H


+(:
,=:;DAADL>C<I67A:H:IH;DGI=DJGCDC
K:=>8A:ADC<
I:GB9:7I6HD;:8:B7:G	
6C9

7;:7997<;@
30A3@1?7=A7<;
!/AB?7AF/A3
;A3?3@A$/F/093






+:C>DG&DI:H
&DK:B7:G	

%6N6C9&DK:B7:G

W 



+:C>DG&DI:H
'8ID7:G	

EG>A6C9'8ID7:G



 



+:C>DG&DI:H
&DK:B7:G	

%6N6C9&DK:B7:G




 




+:C>DG&DI:H
JDG&DI:H
"JC:	

"JC:6C9:8:B7:G




 




+:C>DG&DI:H
JDG&DI:H
%6G8=	

%6G8=6C9+:EI:B7:G




 




*:KDAK>C<8G:9>I;68>A>IN
"JAN	

%DCI=AN

W 
W
>C6C8:A:6H:H6C9DI=:G9:7I .6G>DJH96I:HI=GDJ<=




 


	

 
	
$:HHJC6BDGI>O:99:7I9>H8DJCIH6C99:7I>HHJ6C8:8DHIH

 

$:HH8JGG:CIB6IJG>I>:H

 

$DC<
I:GB9:7I	C:ID;8JGG:CIB6IJG>I>:H

	 
	
!C&DK:B7:G
	L:G:E6>9I=:DJIHI6C9>C<

B>AA>DCD;+:C>DG&DI:H9J:
'JG+:C>DG&DI:H
9J:
L>AAB6IJG:DC'8ID7:G	
	6C9L:G:	I=:G:;DG:	G:8A6HH>;>:9ID8JGG:CI9JG>C<I=:;DJGI=FJ6GI:GD;

/:=69

B>AA>DC6C9

B>AA>DCD;8DBB:G8>6AE6E:GCDI:HDJIHI6C9>C<6HD;:8:B7:G	
6C9
	
G:HE:8I>K:AN
/:=69CDC
G:8DJGH:9:7IJC9:GDJGL6G:=DJH:;68>A>I>:HD;
B>AA>DC6I:8:B7:G	
	6C9
B>AA>DC
6I:8:B7:G	
	6C9CDC
G:8DJGH:9:7IJC9:GI:GBH:8JG>I>O6I>DCHD;8DCHDA>96I:9K6G>67A:>CI:G:HI:CI>I>:HX.!HY
D;B>AA>DC6I:8:B7:G	
	6C9
B>AA>DC6I:8:B7:G	

9DLCCDJG8G:9>IG6I>CK:AN>BE68II=:>CI:G:HIG6I:E6N67A:DCDJG+:C>DG&DI:H	
+:C>DG&DI:H	6C9+:C>DG&DI:H6C98DJA9C:<6I>K:AN>BE68IDJG67>A>INID>HHJ:	DGI=:>CI:G:HIG6I:H;DG	8DBB:G8>6A
E6E:GCDI:H99>I>DC6AAN	6C>C8G:6H:>CDJGA:K:G6<:G6I>D8DJA9C:<6I>K:AN>BE68II=:>CI:G:HIG6I:H8=6G<:9;DG
7DGGDL>CC<8G:9>I;68>A>IN
+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DCDCDJGCDC
K:=>8A:ADC<
I:GB9:7I	
8DBB:G8>6AE6E:G	6C9CDC
G:8DJGH:9:7I
!/0.%0%+*/* +2!**0/
'JG6B:C9:96C9G:HI6I:98G:9>I6C9:CIJG:H;DGDJGH:C>DGJCH:8JG:9CDI:H8DCI6>C8JHIDB6GN
8DK:C6CIHI=6IEA68:G:HIG>8I>DCHDCJH	>C8AJ9>C<DJG67>A>INID>C8JG699>I>DC6ADGC9:7I:9C:HH	ID8G:6I:
A>:CHDGDI=:G:C8JB7G6C8:H	ID:C<6<:>CH6A:6C9A:6H:768@IG6CH68I>DCH	IDH:AADGDI=:GL>H:9>HEDH:D;6HH:IH	6C9ID
B:G<:DG8DCHDA>96I:L>I=DI=:G:CI>I>:H'JG;6>AJG:ID8DBEANL>I=I=:8DK:C6CIH8DCI6>C:9>CDJG6B:C9:96C9G:HI6I:9
8G:9>I6C9:CIJG:H;DGDJGH:C>DGJCH:8JG:9CDI:H8DJA9G:HJAI>CI=:688:A:G6I>DCD;DI=:G>C9:7I:9C:HHD;
JID&6I>DC
-C9:GDJG6B:C9:96C9G:HI6I:98G:9>I6G:9IDG:B6>C>C8DBEA>6C8:L>I=6B6M>BJBA:K:G6<:
G6I>D6C96B>C>BJB>CI:G:HI8DK:G6<:G6I>D,=:A:K:G6<:G6I>D>H68DCIG68IJ6AAN9:;>C:96BDJCIEG>C8>E6AANG:;A:8I>C<
CDC
K:=>8A:9:7I9>K>9:97N6B:6HJG:D;:6GC>CCI:G:HI8DK:G6<:G6I>D>H68DCIG68IJ6AAN9:;>C:96BDJCIG:;A:8I>C<
6B:6HJG:D;:6GC>CK>9:97N8:GI6>C>CI:G:HI:ME:CH:EG>C8>E6AAN6HHD8>6I:9L>I=K:=>8A:;ADDGEA6CE6N67A:6C9CDC
K:=>8A:9:7I,=:HE:8>;>8I:GBHD;I=:A:K:G6<:6C9>CI:G:HI8DK:G6<:G6I>DH86C7:;DJC9>CDJG6B:C9:96C9G:HI6I:9
8G:9>I68=>H;>A:9L>I=DJG)J6GI:GAN*:EDGIDCDGB
);DGI=:FJ6GI:G:C9:9"JC:
	



HD;:8:B7:G	
	L:L:G:>C8DBEA>6C8:L>I=I=:8DK:C6CIHJC9:GDJG8G:9>I6C9:CIJG:H;DG
DJGH:C>DGJCH:8JG:9CDI:HI:8:B7:G	
	DJGA:K:G6<:6C9>CI:G:HI8DK:G6<:G6I>DHL:G:6H;DAADLH
313:03?


&3>B7?3:3;A
1AB/9
$:K:G6<:G6I>D
TM
M
!CI:G:HI8DK:G6<:G6I>D
U

M
M
!+./)2+255862'4'?'(2+
,=:8DBEDC:CIHD;K:=>8A:;ADDGEA6CE6N67A:6G:6H;DAADLH
;:7997<;@






.:=>8A:;ADDGEA6CE6N67A:
IG69:

	 
	


.:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:

	 
	
.:=>8A:;ADDGEA6CE6N67A:

	
 
	
.:=>8A:;ADDGEA6C;68>A>I>:H6G:9J:DC9:B6C9	7JI>CI=:86H:D;C:LK:=>8A:>CK:CIDG>:H	6G:<:C:G6AANE6>9L>I=>C
H:K:G6A7JH>C:HH96NH6;I:GI=:G:A6I:9K:=>8A:H6G:HDA9.:=>8A:;ADDGEA6C;68>A>I>:H6G:EG>B6G>AN8DAA6I:G6A>O:97NK:=>8A:
>CK:CIDG>:H6C9G:A6I:9G:8:>K67A:H+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DCDC
DJGK:=>8A:;ADDGEA6CE6N67A:
/@69C<I67A:HJBB6G>O:HI=:8=6C<:H>CDJG86H=EGDK>9:97NJH:9>CDE:G6I>C<	>CK:HI>C<	6C9;>C6C8>C<
68I>K>I>:H
-3/?@;232313:03?
;:7997<;@









&:I86H=EGDK>9:97NDE:G6I>C<68I>K>I>:H

 

 
	
&:I86H=EGDK>9:97NJH:9>C>CK:HI>C<68I>K>I>:H

 
 

&:I86H=JH:9>C;>C6C8>C<68I>K>I>:H



 
  	

'9.25=9,8536+8':/4-):/B6GNHDJG8:HD;DE:G6I>C<86H=;ADLHG:HJAI;GDBI=:H6A:D;K:=>8A:H	;>C6C8:6C9>CHJG6C8:EGD9J8IH	6C9E6GIH
6C96JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	EGD8::9H;GDBK:=>8A:;ADDGEA6CE6N67A:
IG69:	6C98DAA:8I>DCHDC6JID
AD6CHG:8:>K67A:;DGK:=>8A:HHDA9I=GDJ<=DJGHIDG:H'JGEG>B6GNJH:HD;86H=;GDBDE:G6I>C<68I>K>I>:H6G:G:E6NB:CIHD;
K:=>8A:;ADDGEA6CE6N67A:
IG69:	EJG8=6H:HD;>CK:CIDGN	E:GHDCC:A
G:A6I:9:ME:C9>IJG:H	DG><>C6I>DCHD;AD6CHG:8:>K67A:;DG
K:=>8A:HHDA9I=GDJ<=DJGHIDG:H	6C9E6NB:CIHG:A6I:9IDI6M:H6C9A:6H:9EGDE:GI>:H
		+),.! 0+		

&:I86H=EGDK>9:97NDE:G6I>C<68I>K>I>:H9:8G:6H:99JG>C<
	6H8DBE6G:9ID
	EG>B6G>AN9J:ID6C>C8G:6H:>C
DG><>C6I>DCHD;6JIDAD6CHG:8:>K67A:;DGK:=>8A:HHDA9I=GDJ<=DJGHIDG:H6HL:8DCI>CJ:9IDDC>C6C8:
7JH>C:HH6C9>C8G:6H:DJG;>C6C8:E:C:IG6I>DCG6I:H6HHD8>6I:9L>I=K:=>8A:HHDA9I=GDJ<=DJGHIDG:H	6HL:AA6H69:8G:6H:>C
:6GC>C6AAND;;H:I7N69:8G:6H:>CLDG@>C<86E>I6AG:FJ>G:B:CIH
'9.25=9,8534<+9:/4-):/CK:HI>C<68I>K>I>:H8DCH>HIEG>B6G>AND;86H=JH:9>C86E>I6A699>I>DCH6C968I>K>IN;GDB7JH>C:HH
68FJ>H>I>DCH	7JH>C:HH9>K:HI>IJG:H	EGDE:GIN9>HEDH>I>DCH	DG><>C6I>DCH6C98DAA:8I>DCHD;6JIDAD6CHG:8:>K67A:68FJ>G:9
I=GDJ<=I=>G9
E6GIN9:6A:GH	6C9DI=:GIG6CH68I>DCH!C+:EI:B7:G
	L:9>H8DCI>CJ:968FJ>G>C<>CHI6AAB:CI8DCIG68IH
;GDBI=>G9
E6GIN9:6A:GH
/:L>AAB6@:;68>A>IN6C9>C;G6HIGJ8IJG:JEBEGDK:B:CIH;GDBI>B:IDI>B:6HL:>9:CI>;NEGD?:8IHI=6I6G:
G:FJ>G:9IDB6>CI6>CDJG8JGG:CI7JH>C:HHDGI=6IL::ME:8IIDEGDK>9:JHL>I=688:EI67A:G6I:HD;G:IJGC


		+),.! 0+		

JG>C<
	L:=69C:I86H=EGDK>9:97N>CK:HI>C<68I>K>I>:H	6H8DBE6G:9IDC:I86H=JH:9>C>CK:HI>C<68I>K>I>:H
9JG>C<
	EG>B6G>AN9J:ID69:8G:6H:>C86H=JH:9>C7JH>C:HH68FJ>H>I>DCH	6C>C8G:6H:>C86H=G:8:>K:9;GDB7JH>C:HH
9>K:HI>IJG:H	69:8G:6H:>CDG><>C6I>DCHD;AD6CHG:8:>K67A:68FJ>G:9I=GDJ<=I=>G9
E6GIN9:6A:GH	6C969:8G:6H:>C86E>I6A
:ME:C9>IJG:H
'9.25=9,853/4'4)/4-):/C6C8>C<68I>K>I>:HEG>B6G>AN>C8AJ9:G:EJG8=6H:HD;8DBBDCHID8@	9:7I68I>K>IN	6C98=6C<:H>C
K:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:
		+),.! 0+		

6H=;ADLH;GDB;>C6C8>C<68I>K>I>:H>C8AJ9:8=6C<:H>CK:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:IDI6A>C<C:IG:E6NB:CIHD;
B>AA>DC9JG>C<
8DBE6G:9IDC:IEGD8::9HD;B>AA>DC9JG>C<
	6C98=6C<:H>C8DBB:G8>6AE6E:G
CDI:HDJIHI6C9>C<IDI6A>C<C:IEGD8::9HD;

B>AA>DC9JG>C<
8DBE6G:9IDC:IEGD8::9HD;

B>AA>DC9JG>C<


!C&DK:B7:G
	L:G:E6>9I=:DJIHI6C9>C<

B>AA>DCD;+:C>DG&DI:H9J:

JG>C<
	L:8DCI>CJ:9IDDC>C6C8:7JH>C:HH6C9>C8G:6H:DJG;>C6C8:E:C:IG6I>DCG6I:H
6HHD8>6I:9L>I=K:=>8A:HHDA9I=GDJ<=DJGHIDG:HH6G:HJAI	L:7DGGDL:97>AA>DC6C9G:E6>9B>AA>DCJC9:GDJG
CDC
G:8DJGH:9:7I;68>A>I>:H>C
JG>C<
	L:7DGGDL:9
B>AA>DC6C9G:E6>9B>AA>DCJC9:GDJGCDC
G:8DJGH:9:7I;68>A>I>:H
JG>C<
	L:G:EJG8=6H:9B>AA>DCH=6G:HD;8DBBDCHID8@;DG6C6<8:D;

B>AA>DC
6K:G6<:EJG8=6H:EG>8:E:GH=6G:D;
	:M8AJ9>C<I=::M8>H:I6M>BEDH:9JC9:GI=:!C;A6I>DC*:9J8I>DC8IJG>C<

	L:G:EJG8=6H:9B>AA>DCH=6G:HD;DJG8DBBDCHID8@;DG6C6<8:D;B>AA>DC6K:G6<:
EJG8=6H:EG>8:E:GH=6G:D;	:M8AJ9>C<I=::M8>H:I6M>BEDH:9JC9:GI=:!C;A6I>DC*:9J8I>DC8I


!/A3?7/9/@6&3>B7?3:3;A@
,=:;DAADL>C<I67A:HJBB6G>O:HDJG8JGG:CI6C9ADC<
I:GBB6I:G>6A86H=G:FJ>G:B:CIH6HD;:8:B7:G	
,=:
6BDJCIHEG:H:CI:96G:76H:9JEDC	6BDC<DI=:GI=>CC<E6NB:CID7A><6I>DCH8DJA986JH:68IJ6AE6NB:CIHID9>;;:GH>;>86CIAN;GDBI=:H:6BDJCIH
$/F:3;A@B30F$3?7<2
;:7997<;@
(8A:;ADDGEA6CE6N67A:&DI:

	


	


W

W

W
&DC
K:=>8A:ADC<
I:GB9:7I	>C8AJ9>C<;>C6C8:A:6H:H
&DI:

	












	
DBB:G8>6AE6E:G&DI:








W

W

W
!CI:G:HIE6NB:CIH










'E:G6I>C<A:6H:6C9DI=:G8DBB>IB:CIH&DI:











:;:GG:98DBE:CH6I>DCD7A><6I>DCH&DI:





W

W


HI>B6I:98=6G<:768@A>67>A>IN&DI:











HI>B6I:9H:A;
>CHJG6C8:D7A><6I>DCH&DI:












(JG8=6H:D7A><6I>DCH6C9DI=:G8DBB>IB:CIH










,DI6A

	

	







	



+::&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH

BDJCIH;DGCDC
K:=>8A:ADC<
I:GB9:7ID7A><6I>DCHG:;A:8IEG>C8>E6AE6NB:CIH6C96G:CDIG:9J8:9;DGJC6BDGI>O:9
9:7I9>H8DJCIHD;B>AA>DCDG9:7I>HHJ6C8:8DHIHD;
B>AA>DC

(G>B6G>ANG:EG:H:CIHH8=:9JA:9;>M:9>CI:G:HIE6NB:CIHDCDJGDJIHI6C9>C<H:C>DGJCH:8JG:9CDI:H6C9;>C6C8:A:6H:H
HI>B6I:HD;;JIJG:>CI:G:HIE6NB:CIH;DGK:=>8A:;ADDGEA6CE6N67A:H6C98DBB:G8>6AE6E:G6G::M8AJ9:99J:IDI=:
H=DGI
I:GBC6IJG:D;I=:H:;68>A>I>:H

BDJCIH;DGDE:G6I>C<A:6H:8DBB>IB:CIH9DCDI>C8AJ9:8:GI6>CDE:G6I>C<:ME:CH:HHJ8=6HB6>CI:C6C8:	>CHJG6C8:	
6C9G:6A:HI6I:I6M:H99>I>DC6AAN	DE:G6I>C<A:6H:HI=6I6G:DC6BDCI=
ID
BDCI=76H>H6G:CDI>C8AJ9:9

J:IDJC8:GI6>CING:<6G9>C<I>B>C<D;E6NB:CIH:ME:8I:97:NDC9DC:N:6G	ADC<
I:GBD7A><6I>DCH;DG9:;:GG:9
8DBE:CH6I>DC6GG6C<:B:CIH=6K:7::C8A6HH>;>:9>CI=:X%DG:,=6C1:6GHY8DAJBC

'JG:HI>B6I:98=6G<:768@D7A><6I>DCH9DCDI=6K:H8=:9JA:9B6IJG>I>:H	=DL:K:G	I=:I>B>C<D;;JIJG:E6NB:CIH>H
:HI>B6I:976H:9DC=>HIDG>86AE6II:GCH

'JG:HI>B6I:9H:A;
>CHJG6C8:D7A><6I>DCH6G:76H:9DCB6C6<:B:CI:HI>B6I:H6C968IJ6G>6A86A8JA6I>DCHAI=DJ<=
I=:H:D7A><6I>DCH9DCDI=6K:H8=:9JA:9B6IJG>I>:H	I=:I>B>C<D;;JIJG:E6NB:CIH>H:HI>B6I:976H:9DC=>HIDG>86A
E6II:GCH

(G>B6G>ANG:EG:H:CIHEJG8=6H:DG9:GH6C98DCIG68IH>C8DCC:8I>DCL>I=G:6A:HI6I:8DCHIGJ8I>DCEGD?:8IH6C9
>C;DGB6I>DCI:8=CDAD86I>DCHNHI:BH	6HL:AA6H68FJ>H>I>DC
G:A6I:98DBB>IB:CIH
/::ME:8II=6II=:6BDJCIH67DK:L>AA7:;JC9:9I=GDJ<=86H=;ADLH;GDBDE:G6I>DCHDG7DGGDL>C6AE6E:GEGDI6IND;DJG9:7I>CHIGJB:CIH	L:
8JGG:CIAN:ME:8IID7:67A:IDG:;>C6C8:HJ8=>CHIGJB:CIH>CI=:CDGB6A8DJGH:D;7JH>C:HH


,=:I67A:67DK::M8AJ9:HI=:CDC
G:8DJGH:9:7II=6IG:A6I:HID6JIDAD6CHG:8:>K67A:;JC9:9I=GDJ<=6HH:I
768@:9I:GB
H:8JG>I>O6I>DCH6C9DGL6G:=DJH:;68>A>I>:H,=:H:G:8:>K67A:H86CDCAN7:JH:96H8DAA6I:G6AIDH:IIA:D7A><6I>DCHD;I=>HCDC
G:8DJGH:9:7I!C699>I>DC	I=:>CK:HIDGH6C9DG8G:9>IDGH>CI=:CDC
G:8DJGH:9:7I=6K:CDG:8DJGH:IDDJG6HH:IH;DG
E6NB:CID;I=:9:7I7:NDC9I=:G:A6I:9G:8:>K67A:H	I=:6BDJCIHDC9:EDH>I>CG:H:GK:688DJCIH	6C9I=:G:HIG>8I:986H=
;GDB8DAA:8I>DCHDC6JIDAD6CHG:8:>K67A:&DC
G:8DJGH:9:7I	C:ID;JC6BDGI>O:99:7I9>H8DJCIH6C9>HHJ6C8:8DHIH	IDI6A:9

B>AA>DC6I:8:B7:G	
+::&DI:6C9&DI:IDI=:DCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:
>C;DGB6I>DC
!CI=:DG9>C6GN8DJGH:D;7JH>C:HH	L:6G:G:FJ>G:9IDEDHIE:G;DGB6C8:6C9HJG:IN7DC9H	A:II:GHD;8G:9>I	6C9DG86H=
9:EDH>IH6H;>C6C8>6AI	6C986H=
9:EDH>IHIDI6A:9B>AA>DC	D;L=>8=
B>AA>DCL:G:A:II:GHD;8G:9>I/:9DCDI8JGG:CIANEGDK>9:86H=8DAA6I:G6A;DG
DJIHI6C9>C<A:II:GHD;8G:9>I/:=6K:C:6I:96A:II:GD;8G:9>IHJ7A>B>I6HE6GID;DJGG:KDAK>C<8G:9>I;68>A>IN,=:
6BDJCI6K6>A67A:ID7:7DGGDL:9JC9:GI=>HG:KDAK>C<8G:9>I;68>A>IN>HG:9J8:9DC69DAA6G
;DG
9DAA6G76H>H7NI=:
8JBJA6I>K:6BDJCID;6CNDJIHI6C9>C<A:II:GHD;8G:9>I
H;JGI=:G9>H8JHH:9>C&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH	I=:G:6G:K6G>DJHI6MB6II:GHL=:G:
I=:JAI>B6I:G:HDAJI>DCB6NG:HJAI>CJHDL>C<699>I>DC6AI6ME6NB:CIH
#44/9/;13'633A??/;53:3;A@
HD;:8:B7:G	
	L:9>9CDI=6K:6CNH>;>86CID;;
76A6C8:H=::I6GG6C<:B:CIH	6H9:;>C:9>C
!I:B
6>>D;+*:DC+
#
C:HH	;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	6C9EGDHE:8IH	6C9I=:EG:K6>A>C<B6G@:IEG>8:6C9
E:G;DGB6C8:D;DJG8DBBDCHID8@B6N7:69K:GH:AN6;;:8I:97N6CJB7:GD;;68IDGH	>C8AJ9>C<I=:B6II:GH9>H8JHH:9
7:ADL:GI6>CHI6I:B:CIH6C9>C;DGB6I>DCH:I;DGI=>CI=>HCCJ6A*:EDGIDCDGB
#	>C8AJ9>C<	L>I=DJIA>B>I6I>DC	
HI6I:B:CIHG:<6G9>C<DJGHIG6I:<>8>C>I>6I>K:H	E6GIC:GH=>EH	DG>CK:HIB:CIH	>C8AJ9>C<JID&6I>DC>C6C8:	HI6I:B:CIH
G:<6G9>C<DJG:ME:8I6I>DCH;DGI=:;JIJG:E:G;DGB6C8:D;DJG7JH>C:HH6C9I=:6JIDBDI>K:G:I6>A>C9JHIGN	>C8AJ9>C<9JG>C<

	HI6I:B:CIHG:<6G9>C<I=:>BE68ID;I=:#DJI6<:DCDJG7JH>C:HH6C9I=:6K6>A67>A>IND;>CHJG6C8:DGDI=:GHDJG8:H
D;G:8DK:GN	6HL:AA6HDI=:GLG>II:CDGDG6AHI6I:B:CIHB69:;GDBI>B:IDI>B:7NJHDG7NDJG6JI=DG>O:9:M:8JI>K:
D;;>8:GHDCDJG7:=6A;I=6I9:H8G>7:DJGD7?:8I>K:H	IJI:X;DGL6G9
ADD@>C<HI6I:B:CIHYL>I=>CI=:
B:6C>C<D;+:8I>DCD;I=:+:8JG>I>:H8ID;	6H6B:C9:9	6C9+:8I>DCD;I=:+:8JG>I>:HM8=6C<:8ID;
	6H6B:C9:9AAHI6I:B:CIHDI=:GI=6CHI6I:B:CIHD;=>HIDG>86A;68I	>C8AJ9>C<HI6I:B:CIHI=6I9:H8G>7:DJGD7?:8I>K:H	
EA6CHDGC<HI6I:B:CIH/DG9HHJ8=6HX6CI>8>E6I:	YX:ME:8I	YX:HI>B6I:	Y
X>CI:C9	YX:K:	YX8DCI>CJ:	YXB6N	YXL>AA	YX8DJA9	Y6C9K6G>6I>DCHD;HJ8=LDG9H
6C9H>B>A6G:MEG:HH>DCH6G:>CI:C9:9ID>9:CI>;NHJ8=;DGL6G9
ADD@>C<HI6I:B:CIH'JG;DGL6G9
ADD@>C<HI6I:B:CIHG:;A:8I
DJG8JGG:CI:ME:8I6I>DCH8DC8:GC>C<;JIJG:G:HJAIH6C9:K:CIH	6C9I=:N>CKDAK:@CDLC6C9JC@CDLCG>H@H	JC8:GI6>CI>:H
6C9DI=:G;68IDGHI=6I6G:9>;;>8JAIIDEG:9>8I6C9B6N86JH:DJG68IJ6AG:HJAIH	E:G;DGB6C8:	DG68=>:K:B:CIHID7:
B6I:G>6AAN9>;;:G:CI;GDB6CN;JIJG:G:HJAIH	E:G;DGB6C8:	DG68=>:K:B:CIH:MEG:HH:9DG>BEA>:97NI=:H:HI6I:B:CIH,=:H:
;DGL6G9
ADD@>C<HI6I:B:CIHHE:6@DCAN6HD;I=:96I:D;I=>HG:EDGI	6C9L:JC9:GI6@:CDD7A><6I>DCIDG:K>H:DGJE96I:
I=:H:HI6I:B:CIHIDG:;A:8IHJ7H:FJ:CI:K:CIHDG8>G8JBHI6C8:H,=:G>H@H	JC8:GI6>CI>:H	6C9DI=:G;68IDGHI=6IDJG
HID8@=DA9:GH6C9EGDHE:8I>K:>CK:HIDGHH=DJA98DCH>9:G>C8AJ9:	7JI6G:CDIA>B>I:9ID	I=:;DAADL>C<
A
,=:6JIDBDI>K:G:I6>A>C9JHIGN>HH:CH>I>K:ID8=6C<>C<:8DCDB>88DC9>I>DCH6C9K6G>DJHDI=:G;68IDGH	>C8AJ9>C<	
7JICDIA>B>I:9ID	JC:BEADNB:CIA:K:AH	8DCHJB:G8DC;>9:C8:	;J:AEG>8:H	>CI:G:HIG6I:H	6C9I6G>;;H'JG7JH>C:HH
6C9G:HJAIHD;DE:G6I>DCH6G:HJ7HI6CI>6AAN9:E:C9:CIDCC:L6C9JH:9K:=>8A:H6A:HA:K:AH>CI=:-C>I:9+I6I:H6C9
>CDJGE6GI>8JA6G<:D8B6G@:IH	6HL:AA6HI=:IB6G<>CHI=6IL:86C68=>:K:DCDJGH6A:HD;
K:=>8A:H	6AAD;L=>8=6G:K:GN9>;;>8JAIIDEG:9>8I
A
'JGC:LK:=>8A:H6A:H6G:>BE68I:97NI=:>C8:CI>K:	B6G@:I>C<	6C9DI=:GEGD8A:B6CJ;68IJG:GH
A
/:6G:9:E:C9:CIJEDCI=:HJ88:HH6C98DCI>CJ:9;>C6C8>6AK>67>A>IND;I=:K:=>8A:B6CJ;68IJG:GH6C99>HIG>7JIDGH
L>I=L=>8=L:=DA9;G6C8=>H:H!C699>I>DC	L:G:ANDCK6G>DJHI=>G9
E6GINHJEEA>:GH;DG@:NEGD9J8IH6C9H:GK>8:H

-

A
/:6G:HJ7?:8IIDG:HIG>8I>DCH>BEDH:97N	6C9H>;>86CI>C;AJ:C8:;GDB	K:=>8A:B6CJ;68IJG:GHI=6IB6N
69K:GH:AN>BE68IDJG7JH>C:HH	;>C6C8>6A8DC9>I>DC	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	6C9EGDHE:8IH	>C8AJ9>C<DJG
67>A>INID68FJ>G:699>I>DC6AHIDG:H
Q
/:6G:>CK:HI>C<H>;>86CIAN>CK6G>DJHHIG6I:<>8>C>I>6I>K:H	>C8AJ9>C<I=:EA6CC:9:ME6CH>DCD;DJGJID&6I>DC
>C6C8:7JH>C:HH	DJGJID&6I>DC-+JH:9K:=>8A:HIDG:H	6C9DJGJID&6I>DC%D7>A:+:GK>8:7JH>C:HH	6C9>;
I=:N6G:CDIHJ88:HH;JA	L:L>AA=6K:>C8JGG:9H>;>86CI:ME:CH:HL>I=DJII=:7:C:;>ID;>BEGDK:9;>C6C8>6A
G:HJAIH
Q
!;L:6G:CDI67A:IDB6>CI6>C6C9:C=6C8:DJGG:I6>A7G6C9H6C9G:EJI6I>DCDGID6IIG68I8DCHJB:GHIDDJGDLC
9><>I6A8=6CC:AH	DG>;:K:CIHD88JGI=6I96B6<:DJGG:I6>A7G6C9H	G:EJI6I>DC	DGH6A:H8=6CC:AH	DJG7JH>C:HH6C9
;>C6C8>6AG:HJAIHB6N7:=6GB:9
A
/:6G:HJ7?:8IIDK6G>DJHG>H@H6HHD8>6I:9L>I=DG><>C6I>C<6C9H:GK>8>C<6JID;>C6C8:AD6CHI=GDJ<=>C9>G:8I
A:C9>C<ID8JHIDB:GH	6CND;L=>8=8DJA9=6K:6C69K:GH::;;:8IDCDJG7JH>C:HH
A
&:LA6LH	G:DCH	DG8>:H>CG:HEDCH:ID8A>B6I:8=6C<:	>C8AJ9>C<;J:A:8DCDBN6C9
HH>DCHI6C96G9H	DG8=6C<:HID:M>HI>C<HI6C96G9H	8DJA969K:GH:AN>BE68IDJG7JH>C:HH	G:HJAIH
D;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	86H=;ADL	6C9EGDHE:8IH
A
/:6G:HJ7?:8IIDCJB:GDJHA:<6A6C969B>C>HIG6I>K:EGD8::9>C8=	>;I=:DJI8DB:H6G:69K:GH:IDJH	8DJA9
B6I:G>6AAN69K:GH:AN6;;:8IDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	86H=;ADLH	6C9EGDHE:8IH
A
'JGDE:G6I>DCH6G:HJ7?:8IID:MI:CH>K:DCH!;L:6G:;DJC9ID7:>CEJGEDGI:9
K>DA6I>DCD;DGHJ7?:8IIDA>67>A>I>:HJC9:G6CND;I=:H:A6LHDGG:DCH	DG>;C:LA6LHDGG:DCH6G:
:C68I:9I=6I69K:GH:AN6;;:8IDJGDE:G6I>DCH	DJG7JH>C:HH	DE:G6I>C<G:HJAIH	6C9EGDHE:8IH8DJA9HJ;;:G
A
/:9:E:C9DC>C;DGB6I>DCI:8=CDADC:HH6C96G:HJ7?:8IIDG>H@HG:A6I:9ID8N7:GH:8JG>INI=G:6IH6C9
>C8>9:CIH	>C8AJ9>C<I=DH:6;;:8I>C<DJGI=>G9
E6GINHJEEA>:GH6C9DI=:GH:GK>8:EGDK>9:GH;6>AJG:D;DJG
>C;DGB6I>DCHNHI:BHDG6CN8N7:GH:8JG>IN7G:68=:HDGJC6JI=DG>O:99>H8ADHJG:D;8DC;>9:CI>6A>C;DGB6I>DC8DJA9
=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	9>HGJEIDJG7JH>C:HH	6C969K:GH:AN>BE68IDJGG:EJI6I>DC6C9
G:HJAIHD;DE:G6I>DCH
A
'JG9:7I6C8:GI6>C;>C6C8>6AG6I>DH6C9DI=:GG:HIG>8I>DCHDCDJG67>A>INID8DC9J8IDJG7JH>C:HH	
6C9DJGHJ7HI6CI>6A>C9:7I:9C:HH8DJA969K:GH:AN6;;:8IDJG;>C6C8>6A8DC9>I>DC6C9DE:G6I>DCH6C9EG:K:CIJH;GDB
;JA;>AA>C<DJG9:7IH:GK>8:D7A><6I>DCH
A
/:6G:HJ7?:8IID>CI:G:HIG6I:G>H@>C8DCC:8I>DCL>I=DJGK:=>8A:;ADDGEA6CE6N67A:H	G:KDAK>C<8G:9>I;68>A>IN	
8DBB:G8>6AE6E:GEGDA>I>:HI=6I8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJGEGD;>I67>A>IN
A
DD9L>AA6C9DI=:G>CI6C<>7A:6HH:IH8DBEG>H:6H>;>86CIEDGI>DCD;DJGIDI6A6HH:IH/:BJHII:HIDJGAA
6C9DI=:G>CI6C<>7A:6HH:IH;DG>BE6>GB:CI6IA:6HI6CCJ6AAN	L=>8=8DJA9G:HJAI>C6B6I:G>6A	CDC
86H=LG>I:
9DLC
D;AADG;G6C8=>H:G><=IH6C98DJA9=6K:6B6I:G>6A69K:GH:>BE68IDCDJGG:HJAIHD;DE:G6I>DCH6C9
H=6G:=DA9:GHZ:FJ>IN
A
'JGB>CDG>IN:FJ>IN>CK:HIB:CIHL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:H6G:G:FJ>G:9ID7:B:6HJG:96I;6>GK6AJ:
:68=G:EDGI>C<E:G>D9	L=>8=8DJA969K:GH:AN>BE68IDJGG:HJAIHD;DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DC,=:
86GGN>C<K6AJ:HD;DJGB>CDG>IN:FJ>IN>CK:HIB:CIHI=6I9DCDI=6K:G:69>AN9:I:GB>C67A:;6>GK6AJ:H6G:G:FJ>G:9
ID7:69?JHI:9;DGD7H:GK67A:EG>8:8=6C<:HDG>BE6>GB:CIH	7DI=D;L=>8=8DJA969K:GH:AN>BE68IDJGG:HJAIHD;
DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DC
A
'JGA6G<:HIHID8@=DA9:GH	6H6G:HJAID;I=:>GDLC:GH=>EHI6@:H>CJH	B6N=6K:I=:67>A>INID:M:GIHJ7HI6CI>6A
>C;AJ:C8:DK:G68I>DCHID7:I6@:CDG6EEGDK:97NDJGHID8@=DA9:GH!C699>I>DC	;JIJG:H=6G:G:EJG8=6H:H6C9
;AJ8IJ6I>DCH>CI=:A:K:AHD;DLC:GH=>ED;DJGA6G<:HIHID8@=DA9:GH8DJA9>BE68II=:KDAJB:D;IG69>C<	A>FJ>9>IN	
6C9B6G@:IEG>8:D;DJG8DBBDCHID8@
A
&6IJG6A9>H6HI:GH6C969K:GH:L:6I=:G:K:CIH	>C8AJ9>C<I=::;;:8IHD;8A>B6I:8=6C<:	86C9>HGJEIDJG7JH>C:HH


227A7<;/9;46A;>C6C8>6A>C;DGB6I>DCJH>C<DJG8DBE6CNL:7H>I:
LLL6JIDC6I>DC8DB	DJG>CK:HIDGG:A6I>DCHL:7H>I:>CK:HIDGH6JIDC6I>DC8DB	+;>A>C8
8DC;:G:C8:86AAH	6C9L:786HIH!C;DGB6I>DC67DJIJID&6I>DC	>IH7JH>C:HH	6C9>IHG:HJAIHD;DE:G6I>DCHB6N6AHD7:
6CCDJC8:97NEDHIHDCJID&6I>DCZH0;::9LLLM8DB6JIDC6I>DC
,=:>C;DGB6I>DCI=6IL:EDHIDCDJGL:7H>I:6C9HD8>6AB:9>68=6CC:AH8DJA97:9::B:9ID7:B6I:G>6A>C;DGB6I>DCH
6G:HJAI	L::C8DJG6<:>CK:HIDGH	I=:B:9>6	6C9DI=:GH>CI:G:HI:9>CJID&6I>DCIDG:K>:LI=:>C;DGB6I>DCI=6IL:EDHIDC
I=DH:L:7H>I:H6C9HD8>6AB:9>68=6CC:AH'JGHD8>6AB:9>68=6CC:AHB6N7:JE96I:9;GDBI>B:IDI>B:DCDJG>CK:HIDG
G:A6I>DCHL:7H>I:,=:>C;DGB6I>DCDCDG688:HH>7A:I=GDJ<=DJGL:7H>I:H6C9HD8>6AB:9>68=6CC:AH>HCDI>C8DGEDG6I:97N
G:;:G:C8:>CI=>HCCJ6A*:EDGIDCDGB
#
(!	 ! ! 
 
;A3?3@A&/A3&7@8
/:=6K:B6G@:IG>H@:MEDHJG:DCK6G>DJH>CHIGJB:CIHI=6I6G:76H:9DCK6G>67A:>CI:G:HIG6I:H!CI:G:HIG6I:9:G>K6I>K:H
B6N7:JH:9ID=:9<:6EDGI>DCD;DJGK6G>67A:G6I:9:7I	L=:C6EEGDEG>6I:	76H:9DCB6G@:I8DC9>I>DCH
/:=697>AA>DCD;K6G>67A:G6I:K:=>8A:;ADDGEA6CE6N67A:6I:8:B7:G	
	6C97>AA>DC6I:8:B7:G	

6H:9DCI=:H:6BDJCIH	6

76H>HED>CI8=6C<:>C>CI:G:HIG6I:HLDJA9G:HJAI>C6C6EEGDM>B6I:8=6C<:IDDJG
6CCJ6A;ADDGEA6C>CI:G:HI:ME:CH:D;B>AA>DC>C
6C9B>AA>DC>C
'JG:MEDHJG:ID8=6C<:H>C>CI:G:HI
G6I:HL>I=G:HE:8IIDIDI6AK:=>8A:;ADDGEA6CE6N67A:>HE6GI>6AANB>I><6I:97NB6CJ;68IJG:GHZ;ADDGEA6C6HH>HI6C8:	L=>8=>C
HDB:86H:H>H76H:9DCK6G>67A:>CI:G:HIG6I:H
/:=69

B>AA>DCD;8DBB:G8>6AE6E:GCDI:HDJIHI6C9>C<6I:8:B7:G	
	6C9

B>AA>DC6I
:8:B7:G	
6H:9DCI=:6BDJCIDJIHI6C9>C<	6

76H>HED>CI8=6C<:>C>CI:G:HIG6I:HLDJA9G:HJAI>C6C
6EEGDM>B6I:8=6C<:IDDJG6CCJ6A>CI:G:HI:ME:CH:D;B>AA>DC>C
6C9B>AA>DC>C

'JG;>M:9G6I:H:C>DGJCH:8JG:9CDI:HIDI6A:97>AA>DC6C9=696;6>GK6AJ:D;7>AA>DC6HD;:8:B7:G	
	
6C9IDI6A:97>AA>DC6C9=696;6>GK6AJ:D;
7>AA>DC6HD;:8:B7:G	

HD;:8:B7:G	
	6AA6JIDAD6CHG:8:>K67A:DJIHI6C9>C<L:G:;>M:9
G6I:>CHI6AAB:CI8DCIG68IH>C6C8>C<;DG
I=:H:G:8:>K67A:HL6H68=>:K:9EG>B6G>ANI=GDJ<=7DI=K6G>67A:
6C9;>M:9
G6I:CDC
G:8DJGH:9:7I&DC
G:8DJGH:9:7I
>C8AJ9:HL6G:=DJH:;68>A>I>:H6C96HH:I
768@:9I:GBH:8JG>I>O6I>DCHDGGDL>CA>I>:H6G:K6G>67A:
G6I:9:7I6C96G:H:8JG:97NI=:G:A6I:96JIDAD6CHG:8:>K67A::GI6>C6JIDAD6CHG:8:>K67A:L:G:;JC9:9I=GDJ<=I:GB
H:8JG>I>O6I>DCH	L=>8=>HHJ:9CDI:HE6N67A:I=6I688GJ:>CI:G:HI6I;>M:9G6I:H	6C96G:6AHDH:8JG:97NI=:G:A6I:96JIDAD6CH
G:8:>K67A:
>B7AF$?713&7@8
/:6G:HJ7?:8IID:FJ>INEG>8:G>H@L>I=G:HE:8IIDB>CDG>IN:FJ>IN>CK:HIB:CIH:GI6>CD;DJG:FJ>IN>CK:HIB:CIH=6K:
G:69>AN9:I:GB>C67A:;6>GK6AJ:HJG>C<I=:E:G>D9I=6IL:=DA9I=:H::FJ>IN>CK:HIB:CIH	JCG:6A>O:9<6>CH6C9ADHH:HL>AA
7:G:8DG9:96HI=:;6>GB6G@:IK6AJ:D;I=:H:8JG>I>:H8=6C<:DK:GI>B:,=:;6>GK6AJ:D;I=:H::FJ>IN>CK:HIB:CIHL6H


B>AA>DC6I:8:B7:G	
6C9B>AA>DC6I:8:B7:G	
=NEDI=:I>86A
8=6C<:>CI=::FJ>IN
EG>8:HD;I=:H:H:8JG>I>:HL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:HLDJA9G:HJAI>C6C6EEGDM>B6I:8=6C<:ID<6>CDGADHHD;

B>AA>DC>C
6C9B>AA>DC>C
/:6AHD=6K:B>CDG>IN:FJ>IN>CK:HIB:CIHL>I=DJI6G:69>AN9:I:GB>C67A:;6>G
K6AJ:,=:H::FJ>IN>CK:HIB:CIH6G:B:6HJG:9JH>C<6B:6HJG:B:CI6AI:GC6I>K:6HE:GB>II:97N688DJCI>C<HI6C96G9H6C9
L:G:>C>I>6AANG:8DG9:96I8DHI	ID7:HJ7H:FJ:CIAN69?JHI:9;DGD7H:GK67A:EG>8:8=6C<:HJG>C<I=:E:G>D9I=6IL:=DA9
I=:H:>CK:HIB:CIH	JCG:6A>O:9<6>CH6C9ADHH:HB6N7:G:8DG9:9>;L:>9:CI>;ND7H:GK67A:EG>8:8=6C<:H>CDG9:GAN
IG6CH68I>DCH;DGI=:>9:CI>86ADG6H>B>A6G>CK:HIB:CID;I=:H6B:>HHJ:G,=:86GGN>C<6BDJCID;DJG:FJ>IN>CK:HIB:CIH
L>I=DJI6G:69>AN9:I:GB>C67A:;6>GK6AJ:L6HB>AA>DC6I:8:B7:G	
6C9B>AA>DC6I:8:B7:G	

=NEDI=:I>86A
D7H:GK67A:EG>8:8=6C<:;DGI=:H::FJ>IN>CK:HIB:CIHLDJA9G:HJAI>C6C6EEGDM>B6I:8=6C<:ID<6>CDG
ADHHD;
B>AA>DC>C
6C9B>AA>DC>C
,=:H:A:8I:9
=NEDI=:I>86A8=6C<:>C:FJ>INEG>8:H>HCDI
>CI:C9:9IDG:;A:8I67:HIDGLDGHI86H:H8:C6G>D	6H:FJ>INEG>8:8=6C<:H8DJA97:HB6AA:GDGA6G<:G9J:IDI=:C6IJG:D;
:FJ>INB6G@:IH


(!	 $
",(##"'# ("" '((!"('
$/53
*:EDGIHD;!C9:E:C9:CI*:<>HI:G:9(J7A>888DJCI>C<>GB
#(%$$(	DGI$6J9:G96A:	$	J9>IDG>GB!

DCHDA>96I:96A6C8:+=::IH6HD;:8:B7:G	
6C9


DCHDA>96I:9+I6I:B:CIHD;!C8DB:;DGI=:1:6GHC9:9:8:B7:G	
	
	6C9


DCHDA>96I:9+I6I:B:CIHD;+=6G:=DA9:GHZFJ>IN;DGI=:1:6GHC9:9:8:B7:G	
	
	6C9


DCHDA>96I:9+I6I:B:CIHD;6H=ADLH;DGI=:1:6GHC9:9:8:B7:G	
	
	6C9


&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH



&3=G:8IDGH
JID&6I>DC	!C8
,%*%+*+*0$!+*/+(% 0! %**%(00!)!*0/
/:=6K:6J9>I:9I=:688DBE6CN>C<8DCHDA>96I:976A6C8:H=::IHD;JID&6I>DC	!C86C9HJ7H>9>6G>:HI=:DBE6CN6HD;
:8:B7:G	
6C9
	I=:G:A6I:98DCHDA>96I:9HI6I:B:CIHD;>C8DB:	H=6G:=DA9:GHZ:FJ>IN	6C986H=;ADLH;DG:68=
D; I=: N:6GH >C I=: I=G::
N:6G E:G>D9 :C9:9 :8:B7:G 	 
	 6C9 I=: G:A6I:9 CDI:H 8DAA:8I>K:AN	 I=: 8DCHDA>96I:9
;>C6C8>6A HI6I:B:CIH !C DJG DE>C>DC	 I=: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH EG:H:CI ;6>GAN	 >C 6AA B6I:G>6A G:HE:8IH	 I=:
;>C6C8>6AEDH>I>DCD;I=:DBE6CN6HD;:8:B7:G	
6C9
	6C9I=:G:HJAIHD;>IHDE:G6I>DCH6C9>IH86H=;ADLH
;DG :68= D; I=: N:6GH >C I=: I=G::
N:6G E:G>D9 :C9:9 :8:B7:G 	 
	 >C 8DC;DGB>IN L>I= -+ <:C:G6AAN 688:EI:9
688DJCI>C<EG>C8>EA:H
/: 6AHD =6K: 6J9>I:9	 >C 688DG96C8: L>I= I=: HI6C96G9H D; I=: (J7A>8 DBE6CN 88DJCI>C< 'K:GH><=I D6G9 -C>I:9
+I6I:H ('	 I=: DBE6CNZH >CI:GC6A 8DCIGDA DK:G ;>C6C8>6AG:EDGI>C< 6H D; :8:B7:G 	 
	 76H:9 DC 8G>I:G>6
:HI67A>H=:9>C!CI:GC6ADCIGDAV!CI:HHJ:97NI=:DBB>II::D;+EDCHDG>C<'G<6C>O6I>DCHD;I=:
,G:69L6NDBB>HH>DC	6C9DJGG:EDGI96I:9:7GJ6GN	
:MEG:HH:96CJCFJ6A>;>:9DE>C>DCDCI=::;;:8I>K:C:HHD;
I=:DBE6CNZH>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<
/%/"+.,%*%+*
,=:H: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH 6G: I=: G:HEDCH>7>A>IN D; I=: DBE6CNZH B6C6<:B:CI 'JG G:HEDCH>7>A>IN >H ID
:MEG:HH 6C DE>C>DC DC I=:H: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH 76H:9 DC DJG 6J9>IH /: 6G: 6 EJ7A>8 688DJCI>C< ;>GB
G:<>HI:G:9L>I=I=:('6C96G:G:FJ>G:9ID7:>C9:E:C9:CIL>I=G:HE:8IIDI=:DBE6CN>C688DG96C8:L>I=I=:-+
;:9:G6A H:8JG>I>:H A6LH 6C9 I=: 6EEA>867A: GJA:H 6C9 G:DCH D; I=: +:8JG>I>:H 6C9 M8=6C<: DBB>HH>DC 6C9 I=:
('
/: 8DC9J8I:9 DJG 6J9>IH >C 688DG96C8: L>I= I=: HI6C96G9H D; I=: (' ,=DH: HI6C96G9H G:FJ>G: I=6I L: EA6C 6C9
E:G;DGBI=:6J9>IIDD7I6>CG:6HDC67A:6HHJG6C8:67DJIL=:I=:GI=:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH6G:;G::D;B6I:G>6A
B>HHI6I:B:CI	L=:I=:G9J:ID:GGDGDG;G6J9'JG6J9>IH>C8AJ9:9E:G;DGB>C<EGD8:9JG:HID6HH:HHI=:G>H@HD;B6I:G>6A
B>HHI6I:B:CI D; I=: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH	 L=:I=:G 9J: ID :GGDG DG ;G6J9	 6C9 E:G;DGB>C< EGD8:9JG:H I=6I
G:HEDC9 ID I=DH: G>H@H +J8= EGD8:9JG:H >C8AJ9:9 :M6B>C>C<	 DC 6 I:HI 76H>H	 :K>9:C8: G:<6G9>C< I=: 6BDJCIH 6C9
9>H8ADHJG:H>CI=:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH'JG6J9>IH6AHD>C8AJ9:9:K6AJ6I>C<I=:688DJCI>C<EG>C8>EA:HJH:96C9
H>;>86CI :HI>B6I:H B69: 7N B6C6<:B:CI	 6H L:AA 6H :K6AJ6I>C< I=: DK:G6AA EG:H:CI6I>DC D; I=: 8DCHDA>96I:9 ;>C6C8>6A
HI6I:B:CIH/:7:A>:K:I=6IDJG6J9>IHEGDK>9:6G:6HDC67A:76H>H;DGDJGDE>C>DC
.%0%(
1 %000!.
,=:8G>I>86A6J9>IB6II:G8DBBJC>86I:97:ADL>H6B6II:G6G>H>C<;GDBI=:8JGG:CIE:G>D96J9>ID;I=:8DCHDA>96I:9;>C6C8>6A
HI6I:B:CIHI=6IL6H8DBBJC>86I:9DGG:FJ>G:9ID7:8DBBJC>86I:9IDI=:6J9>I8DBB>II::6C9I=6IG:A6I:HID688DJCIH
DG 9>H8ADHJG:H I=6I 6G: B6I:G>6A ID I=: 8DCHDA>96I:9 ;>C6C8>6A HI6I:B:CIH 6C9  >CKDAK:9 DJG :HE:8>6AAN 8=6AA:C<>C<	
HJ7?:8I>K:	DG8DBEA:M?J986I>DCD;68G>I>86A6J9>IB6II:G9D:HCDI6AI:G>C6CNL6NDJGDE>C>DCDC
I=:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH	I6@:C6H6L=DA:	6C9L:6G:CDI	7N8DBBJC>86I>C<I=:8G>I>86A6J9>IB6II:G7:ADL	
EGDK>9>C<6H:E6G6I:DE>C>DCDCI=:8G>I>86A6J9>IB6II:GDGDCI=:688DJCIHDG9>H8ADHJG:HIDL=>8=>IG:A6I:H
%.2(1!+"".*$%/!.%#$0/
H9:H8G>7:9>C&DI:IDI=:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH	I=:;G6C8=>H:G><=IH76A6C8:6HD;:8:B7:G	

L6HB>AA>DC,=:DBE6CNE:G;DGBH;G6C8=>H:G><=IH>BE6>GB:CII:HI>C<6CCJ6AANDGBDG:;G:FJ:CIANL=:C
:K:CIHDG8=6C<:H>C9>86I:I=6I>BE6>GB:CIB6N=6K:D88JGG:9JG>C<I=:;>H86AN:6G:C9:9:8:B7:G	
	I=:
DBE6CNE:G;DGB:96FJ6CI>I6I>K:>BE6>GB:CI6C6ANH>HD;>IH;G6C8=>H:G><=IH
/:>9:CI>;>:9I=:6HH:HHB:CID;I=:;6>GK6AJ:HD;;G6C8=>H:G><=IH6H68G>I>86A6J9>IB6II:G/:E:G;DGB:9H:CH>I>K>IN
6C6ANH:H6H6G>H@6HH:HHB:CIEGD8:9JG:DK:G6HHJBEI>DCHJH:9ID:HI>B6I:I=:;6>GK6AJ:D;I=:;G6C8=>H:G><=IH6C9
9:I:GB>C:9I=:;DG:86HI:9G:K:CJ:CG6I:H6C9I=:9>H8DJCIG6I:HG:EG:H:CI:9I=:
H>;>86CI 6HHJBEI>DCH  =><=:G 9:IDG ?J9G:9 ID :K6AJ6I: I=: DBE6CNZH :HI>B6I:9


;DG:86HI:9G:K:CJ:CG6I:HJH:9ID9:I:GB>C:I=:;6>GK6AJ:D;I=:;G6C8=>H:G><=IH.6AJ6I>DC
EGD;:HH>DC6AHL>I=HE:8>6A>O:9H@>AAH6C9@CDLA:9<:L:G:G:FJ>G:9ID:K6AJ6I:I=:9:I:GB>C6I>DCD;I=:9>H8DJCIG6I:H
,=:;DAADL>C<6G:I=:EG>B6GNEGD8:9JG:HL:E:G;DGB:9ID699G:HHI=:8G>I>86A6J9>IB6II:G/::K6AJ6I:9I=:9:H>C<:;;:8I>K:C:HHD;8:GI6>C>CI:GC6A8DCIGDAHG:A6I:9IDI=:EGD8:HHID9:I:GB>C:I=:;6>GK6AJ:D;
I=:;G6C8=>H:G><=IH	>C8AJ9>C<8DCIGDAHDK:GI=:
Q 9:K:ADEB:CID;I=:;DG:86HI:9G:K:CJ:CG6I:H
Q H:A:8I>DCD;I=:9>H8DJCIG6I:6HHJBEI>DCH
/::K6AJ6I:9I=:DBE6CNZH;DG:86HI:9G:K:CJ:C<I=:DCHIDB6G@:I96I6	
HJ8=6H>C9JHIGN;DG:86HI:9CG6I:H7N8DBE6G>C<I=:G6I:
6HHJBEI>DCHID=>HIDG>86A68IJ6AB6G<>CH/:8DBE6G:9I=:DBE6CNZH=>HIDG>86AG:K:CJ:C;DG:86HIH
ID68IJ6AG:HJAIHID6HH:HHI=:DBE6CNZH67>A>INID688JG6I:AN;DG:86HI!C699>I>DC	L:>CKDAK:9K6AJ6I>DCEGD;:HH>DC6AH
L>I= HE:8>6A>O:9 H@>AAH 6C9 @CDLA:9<:	 L=D 6HH>HI:9 >C :K6AJ6I>C< I=: 9>H8DJCI G6I:H JH:9 7N B6C6<:B:CI >C I=:
K6AJ6I>DCH7N8DBE6G>C<I=:B6<6>CHI>C9:E:C9:CIAN9:K:ADE:99>H8DJCIG6I:HJH>C<EJ7A>8AN6K6>A67A:B6G@:I96I6;DG
8DBE6G67A::CI>I>:H
H#(%$$(
/:=6K:H:GK:96HI=:DBE6CNZH6J9>IDGH>C8:


DGI$6J9:G96A:	ADG>96
:7GJ6GN	



&3=G:8IDGH
JID&6I>DC	!C8
,%*%+*+**0!.*(+*0.+(2!.%**%(!,+.0%*#
/:=6K:6J9>I:9JID&6I>DC	!C86C9HJ7H>9>6G>:HI=:DBE6CN>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6HD;:8:B7:G
	
	76H:9DC8G>I:G>6:HI67A>H=:9>C*0!.*(+*0.+(8*0!#.0! .)!3+.'	
>HHJ:97NI=:DBB>II::D;
+EDCHDG>C<'G<6C>O6I>DCHD;I=:,G:69L6NDBB>HH>DC!CDJGDE>C>DC	I=:DBE6CNB6>CI6>C:9	>C6AAB6I:G>6AG:HE:8IH	
:;;:8I>K:>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6HD;:8:B7:G	
	76H:9DC8G>I:G>6:HI67A>H=:9>C*0!.*(+*0.+(
8*0!#.0! .)!3+.'	
>HHJ:97NI=:DBB>II::D;+EDCHDG>C<'G<6C>O6I>DCHD;I=:,G:69L6NDBB>HH>DC
/:6AHD=6K:6J9>I:9	>C688DG96C8:L>I=I=:HI6C96G9HD;I=:(J7A>8DBE6CN88DJCI>C<'K:GH><=ID6G9-C>I:9
+I6I:H('	I=:8DCHDA>96I:976A6C8:H=::IHD;I=:DBE6CN6HD;:8:B7:G	
6C9
	I=:G:A6I:9
8DCHDA>96I:9HI6I:B:CIHD;>C8DB:	H=6G:=DA9:GHZ:FJ>IN	6C986H=;ADLH;DG:68=D;I=:N:6GH>CI=:I=G::
N:6GE:G>D9:C9:9
:8:B7:G	
	6C9I=:G:A6I:9CDI:H8DAA:8I>K:AN	I=:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH	6C9DJGG:EDGI96I:9
:7GJ6GN	
:MEG:HH:96CJCFJ6A>;>:9DE>C>DCDCI=DH:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH
/%/"+.,%*%+*
,=:DBE6CNZHB6C6<:B:CI>HG:HEDCH>7A:;DGB6>CI6>C>C<:;;:8I>K:>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6C9;DG>IH
6HH:HHB:CID;I=::;;:8I>K:C:HHD;>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<	>C8AJ9:9>CI=:688DBE6CN>C<%6C6<:B:CIH
CCJ6A*:EDGIDC!CI:GC6ADCIGDA'K:G>C6C8>6A*:EDGI>C<'JGG:HEDCH>7>A>IN>HID:MEG:HH6CDE>C>DCDCI=:DBE6CNZH
>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<76H:9DCDJG6J9>I/:6G:6EJ7A>8688DJCI>C<;>GBG:<>HI:G:9L>I=I=:('
6C96G:G:FJ>G:9ID7:>C9:E:C9:CIL>I=G:HE:8IIDI=:DBE6CN>C688DG96C8:L>I=I=:-+;:9:G6AH:8JG>I>:HA6LH6C9I=:
6EEA>867A:GJA:H6C9G:DCHD;I=:+:8JG>I>:H6C9M8=6C<:DBB>HH>DC6C9I=:('
/:8DC9J8I:9DJG6J9>I>C688DG96C8:L>I=I=:HI6C96G9HD;I=:(',=DH:HI6C96G9HG:FJ>G:I=6IL:EA6C6C9E:G;DGB
I=:6J9>IIDD7I6>CG:6HDC67A:6HHJG6C8:67DJIL=:I=:G:;;:8I>K:>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<L6HB6>CI6>C:9>C
6AAB6I:G>6AG:HE:8IH'JG6J9>ID;>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<>C8AJ9:9D7I6>C>C<6CJC9:GHI6C9>C<D;>CI:GC6A
8DCIGDADK:G;>C6C8>6AG:EDGI>C<	6HH:HH>C<I=:G>H@I=6I6B6I:G>6AL:6@C:HH:M>HIH	6C9I:HI>C<6C9:K6AJ6I>C<I=:9:H>C<:;;:8I>K:C:HHD;>CI:GC6A8DCIGDA76H:9DCI=:6HH:HH:9G>H@'JG6J9>I6AHD>C8AJ9:9E:G;DGB>C<HJ8=DI=:G
EGD8:9JG:H6HL:8DCH>9:G:9C:8:HH6GN>CI=:8>G8JBHI6C8:H/:7:A>:K:I=6IDJG6J9>IEGDK>9:H6G:6HDC67A:76H>H;DGDJG
DE>C>DC
!"%*%0%+** %)%00%+*/+"*0!.*(+*0.+(2!.%**%(!,+.0%*#
8DBE6CNZH>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<>H6EGD8:HH9:H>9:G:6HDC67A:6HHJG6C8:G:<6G9>C<I=:
G:A>67>A>IND;;>C6C8>6AG:EDGI>C<6C9I=:EG:E6G6I>DCD;;>C6C8>6AHI6I:B:CIH;DG:MI:GC6AEJGEDH:H>C688DG96C8:L>I=
<:C:G6AAN688:EI:9688DJCI>C<EG>C8>EA:H8DBE6CNZH>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<>C8AJ9:HI=DH:EDA>8>:H6C9
EGD8:9JG:HI=6IE:GI6>CIDI=:B6>CI:C6C8:D;G:8DG9HI=6I	>CG:6HDC67A:9:I6>A	688JG6I:AN6C9;6>GANG:;A:8II=:
IG6CH68I>DCH6C99>HEDH>I>DCHD;I=:6HH:IHD;I=:8DBE6CNEGDK>9:G:6HDC67A:6HHJG6C8:I=6IIG6CH68I>DCH6G:G:8DG9:9
6HC:8:HH6GNIDE:GB>IEG:E6G6I>DCD;;>C6C8>6AHI6I:B:CIH>C688DG96C8:L>I=<:C:G6AAN688:EI:9688DJCI>C<EG>C8>EA:H	6C9
I=6IG:8:>EIH6C9:ME:C9>IJG:HD;I=:8DBE6CN6G:7:>C<B69:DCAN>C688DG96C8:L>I=6JI=DG>O6I>DCHD;B6C6<:B:CI6C9
9>G:8IDGHD;I=:8DBE6CN6C9EGDK>9:G:6HDC67A:6HHJG6C8:G:<6G9>C<EG:K:CI>DCDGI>B:AN9:I:8I>DCD;JC6JI=DG>O:9
68FJ>H>I>DC	JH:	DG9>HEDH>I>DCD;I=:8DBE6CNZH6HH:IHI=6I8DJA9=6K:6B6I:G>6A:;;:8IDCI=:;>C6C8>6AHI6I:B:CIH
:86JH:D;>IH>C=:G:CIA>B>I6I>DCH	>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<B6NCDIEG:K:CIDG9:I:8IB>HHI6I:B:CIHAHD	
EGD?:8I>DCHD;6CN:K6AJ6I>DCD;:;;:8I>K:C:HHID;JIJG:E:G>D9H6G:HJ7?:8IIDI=:G>H@I=6I8DCIGDAHB6N7:8DB:>C69:FJ6I:
7:86JH:D;8=6C<:H>C8DC9>I>DCH	DGI=6II=:9:6C8:L>I=I=:EDA>8>:HDGEGD8:9JG:HB6N9:I:G>DG6I:
H#(%$$(
DGI$6J9:G96A:	ADG>96
:7GJ6GN	



)(#"(#""	
#"'# ( "'('
@<4313:03?
;:7997<;@3E13=A@6/?3/;2=3?@6/?32/A/






''('
-**&,++,+
6H=6C986H=:FJ>K6A:CIH





*:8:>K67A:H	C:ID;6AADL6C8:;DG8G:9>IADHH:HD;B>AA>DC6C9B>AA>DC	
G:HE:8I>K:AN

	


	


!CK:CIDGN

	



	

'I=:G8JGG:CI6HH:IH




,DI6AJGG:CIHH:IH

	


	

-,'$'&+*!.$	C:ID;6AADL6C8:;DG8G:9>IADHH:HD;B>AA>DC6C9
B>AA>DC	G:HE:8I>K:AN

	




(*'(*,1&)-!(%&,	&,

	

	
'(*,!&$+++,+




''/!$$

	

	
', *!&,&!$++,+	&,





', *++,+





,DI6AHH:IH

	



	


  ('"'&# &'H%)(-
-**&,$!!$!,!+
.:=>8A:;ADDGEA6CE6N67A:
IG69:

	

	


.:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:

	

	
88DJCIHE6N67A:




DBB:G8>6AE6E:G








JGG:CIB6IJG>I>:HD;ADC<
I:GB9:7I




JGG:CIEDGI>DCD;CDC
G:8DJGH:9:7I




'I=:G8JGG:CIA>67>A>I>:H

	



,DI6AJGG:CI$>67>A>I>:H

	

	
$'&
,*%,	&,'-**&,%,-*!,!+

	

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




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




**!&'%,0+





', *$!!$!,!+






'%%!,%&,+&'&,!&&!+&DI:

+ * '$*+Z)-!,1
DBBDCHID8@	E6GK6AJ:

E:GH=6G:	

	


	


H=6G:H6JI=DG>O:9		
H=6G:H>HHJ:96I:8:B7:G	
	6C9		H=6G:H>HHJ:96I:8:B7:G	

	>C8AJ9>C<H=6G:H=:A9>CIG:6HJGN




99>I>DC6AE6>9
>C86E>I6A





*:I6>C:9:6GC>CK:AN

	 
	
,DI6A+=6G:=DA9:GHZFJ>IN

	

	
,DI6A$>67>A>I>:H6C9+=6G:=DA9:GHZFJ>IN

	



	


+::688DBE6CN>C<&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH


)(#"(#""	
#"'# ('((!"('#"#!
8A:

	


	

	
-H:9K:=>8A:

	

	

	
(6GIH6C9H:GK>8:

	

	

	


>C6C8:6C9>CHJG6C8:	C:I

	


	

	
'I=:G








,',$*.&-

	

	

	

DHID;+6A:H
&:LK:=>8A:

	

	



	
-H:9K:=>8A:

	

	


	

(6GIH6C9H:GK>8:

	


	

	


'I=:G







,',$'+,'+$+

	



	

	
GDHH(GD;>I
&:LK:=>8A:



	


	
-H:9K:=>8A:








(6GIH6C9H:GK>8:

	



	

	


>C6C8:6C9>CHJG6C8:

	


	

	
'I=:G






,',$*'++(*'!,

	

	

	
-,'&,!'&!&&!&'%$'++

 
 

+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H

	

	

	

:EG:8>6I>DC6C96BDGI>O6I>DC










G6C8=>H:G><=IH>BE6>GB:CI



W

W
'I=:G>C8DB:	C:I

 

 

'(*,!&!&'%

	


	

	

&DC
DE:G6I>C<>C8DB::ME:CH:>I:BH
ADDGEA6C>CI:G:HI:ME:CH:

 
 

'I=:G>CI:G:HI:ME:CH:

 
 

'I=:G>C8DB:ADHH	C:I





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


	


	
!C8DB:I6MEGDK>H>DC








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



	



	
!C8DB:ADHH;GDB9>H8DCI>CJ:9DE:G6I>DCH	C:ID;>C8DB:I6M:H
W






&,!&'%



	


	
+!*&!&+$'++(*+ *
DCI>CJ>C<DE:G6I>DCH







>H8DCI>CJ:9DE:G6I>DCH

W








&:I>C8DB:







/:><=I:96K:G6<:8DBBDCH=6G:HDJIHI6C9>C<







!$-,*&!&+$'++(*+ *
DCI>CJ>C<DE:G6I>DCH







>H8DCI>CJ:9DE:G6I>DCH

W








&:I>C8DB:






/:><=I:96K:G6<:8DBBDCH=6G:HDJIHI6C9>C<







'%%'&+ *+'-,+,&!&	C:ID;IG:6HJGNHID8@	6IE:G>D9:C9







+::688DBE6CN>C<&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH


)(#"(#""	
#"'# ('((!"('#'&# &'H%)(-
C8DB:
W

W

W

	

W

	
*:EJG8=6H:HD;8DBBDCHID8@
W

W

W

W

	
 
	

,G:6HJGNHID8@86C8:AA6I>DC
	


	





 
 
	 
	


W
+ID8@
76H:98DBE:CH6I>DC:ME:CH:
W

W



W 
W


+=6G:H6L6G9:9JC9:GHID8@
76H:98DBE:CH6I>DC
EA6CH	C:ID;H=6G:HL>I==:A9;DGI6M:H
W

W

 
 



$&,%*	

		






	

	 
	

&:I>C8DB:
W

W

W

	


W

	

*:EJG8=6H:HD;8DBBDCHID8@	>C8AJ9>C<:M8>H:I6M
W

W

W

W

 

+ID8@
76H:98DBE:CH6I>DC:ME:CH:
W

W



W

W


+=6G:H6L6G9:9JC9:GHID8@
76H:98DBE:CH6I>DC
EA6CH	C:ID;H=6G:HL>I==:A9;DGI6M:H
W

W


 
 



$&,%*	

		






	


	 
	
&:I>C8DB:
W

W

W



W


*:EJG8=6H:HD;8DBBDCHID8@	>C8AJ9>C<:M8>H:I6M
W

W

W

W

 

+ID8@
76H:98DBE:CH6I>DC:ME:CH:
W

W



W

W


+=6G:H6L6G9:9JC9:GHID8@
76H:98DBE:CH6I>DC
EA6CH	C:ID;H=6G:HL>I==:A9;DGI6M:H
W

W

 
 



$&,%*	

		







	

	 
	
+::688DBE6CN>C<&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH


)(#"(#""	
#"'# ('((!"('#' #+'
C8DB:

 
	
 
	
9?JHIB:CIHIDG:8DC8>A:C:I>C8DB:IDC:I86H=EGDK>9:97NDE:G6I>C<
68I>K>I>:H
$DHH>C8DB:;GDB9>H8DCI>CJ:9DE:G6I>DCH

W 

 


:EG:8>6I>DC6C96BDGI>O6I>DC


 

 



BDGI>O6I>DCD;9:7I>HHJ6C8:8DHIH6C9688G:I>DCD;9:7I9>H8DJCIH

 
 

+ID8@
76H:98DBE:CH6I>DC:ME:CH:

 
 

(GDK>H>DC;DG8G:9>IADHH:HDC6JIDAD6CHG:8:>K67A:

 
 

:;:GG:9>C8DB:I6MEGDK>H>DC7:C:;>I

 

 

&:I<6>CG:A6I:9ID7JH>C:HHEGDE:GIN9>HEDH>I>DCH

 
 

G6C8=>H:G><=IH>BE6>GB:CI

 
W 
W
&DC
86H=>BE6>GB:CI8=6G<:H

 
 

$DHH<6>CDC:FJ>IN>CK:HIB:CIH


 
 

$DHH<6>CDC8DGEDG6I:
DLC:9A>;:>CHJG6C8:6HH:I

 
 

6>CDCH6A:D;6JIDAD6CHG:8:>K67A:

 
 
W
'I=:G

 
 
W
!C8G:6H:9:8G:6H:	C:ID;:;;:8IH;GDB7JH>C:HH68FJ>H>I>DCH6C9
9>K:HI>IJG:H
*:8:>K67A:H

 
 

JIDAD6CHG:8:>K67A:	C:I

 
 
W
!CK:CIDGN

 

 

'I=:G6HH:IH

 
 

!C8G:6H:9:8G:6H:	C:ID;:;;:8IH;GDB7JH>C:HH68FJ>H>I>DCH6C9
9>K:HI>IJG:H
.:=>8A:;ADDGEA6CE6N67A:
IG69:

 
 

88DJCIHE6N67A:

 
 

'I=:GA>67>A>I>:H

 
 

&:I86H=EGDK>9:97N8DCI>CJ>C<DE:G6I>DCH

 
 
	
&:I86H=JH:9>C9>H8DCI>CJ:9DE:G6I>DCH

W 

 


&:I86H=EGDK>9:97NDE:G6I>C<68I>K>I>:H

 

 
	
+ (*'.!1-+!&!&.+,!&,!.!,!+
(JG8=6H:HD;EGDE:GIN6C9:FJ>EB:CI

 

 


6H=JH:9>C7JH>C:HH68FJ>H>I>DCH	C:ID;86H=68FJ>G:9

W 
 

6H=G:8:>K:9;GDB7JH>C:HH9>K:HI>IJG:H	C:ID;86H=G:A>CFJ>H=:9


 
 

'G><>C6I>DCHD;6JIDAD6CHG:8:>K67A:68FJ>G:9I=GDJ<=I=>G9
E6GIN9:6A:GH 
W 

 


DAA:8I>DCHDC6JIDAD6CHG:8:>K67A:68FJ>G:9I=GDJ<=I=>G9
E6GIN9:6A:GH


 

 

(GD8::9H;GDBI=:H6A:D;6JIDAD6CHG:8:>K67A:


 
 
W
'I=:G

 
 

&:I86H=EGDK>9:97NJH:9>C8DCI>CJ>C<DE:G6I>DCH

 
 

&:I86H=JH:9>C9>H8DCI>CJ:9DE:G6I>DCH

W 
W 
W
&:I86H=EGDK>9:97NJH:9>C>CK:HI>C<68I>K>I>:H

 
 

+::688DBE6CN>C<&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH


)(#"(#""	
#"'# ('((!"('#' #+'
DG&DI:H9J:


W 
W 

(6NB:CID;+:C>DG&DI:H9J:




 
W 
W
&:IEGD8::9H;GDBE6NB:CIHD;8DBB:G8>6AE6E:G



 


 



(GD8::9H;GDBCDC
G:8DJGH:9:7I

	
 

 


(6NB:CIHD;CDC
G:8DJGH:9:7I

 
 

(6NB:CID;9:7I>HHJ6C8:8DHIH

 
 

&:IEGD8::9H;GDBE6NB:CIHD;K:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:

 
 

(6NB:CIHD;DI=:G9:7ID7A><6I>DCH


 
 


(GD8::9H;GDBI=::M:G8>H:D;HID8@DEI>DCH


 
 

(6NB:CIHD;I6ML>I==DA9>CC8DCI>CJ>C<DE:G6I>DCH



 
 
	

&:I86H=JH:9>C9>H8DCI>CJ:9DE:G6I>DCH

W 
W 
W
&:I86H=JH:9>C;>C6C8>C<68I>K>I>:H



 
 
	

!&*+*+!&+ 	+ )-!.$&,+	&
*+,*!,+ 

 
 

+ 	+ )-!.$&,+	&*+,*!,+ 6I7:<>CC>C<
D;N:6G


 
 


+ 	+ )-!.$&,+	&*+,*!,+ 6I:C9D;
N:6G


 

 

+::688DBE6CN>C<&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH


	'&$(#"#)'"''"')!!&-#'""(#)"("$# '
8-'4/@':/54'4*
;9/4+99
JID&6I>DC	!C8	I=GDJ<=>IHHJ7H>9>6G>:H	>HDC:D;I=:A6G<:HI6JIDBDI>K:G:I6>A:GH>CI=:-C>I:9+I6I:HHD;
:8:B7:G	
	L:DLC:96C9DE:G6I:9C:LK:=>8A:;G6C8=>H:H;GDBHIDG:HAD86I:9>CI=:-C>I:9+I6I:H	
EG:9DB>C6CIAN>CB6?DGB:IGDEDA>I6CB6G@:IH>CI=:+JC7:AIG:<>DC'JGHIDG:HH:AA9>;;:G:CIC:LK:=>8A:7G6C9H,=:
8DG:7G6C9HD;C:LK:=>8A:HI=6IL:H:AA	G:EG:H:CI>C<6EEGDM>B6I:AND;I=:C:LK:=>8A:HI=6IL:HDA9>C
	6G:
B6CJ;68IJG:97N,DNDI6>C8AJ9>C<$:MJH	 DC96	DG9	:C:G6A%DIDGH	%/	%:G8:9:H
:CO	+I:AA6CI>H	6C9
.DA@HL6<:C>C8AJ9>C<J9>6C9(DGH8=:HD;:8:B7:G	
	L:6AHDDLC:96C9DE:G6I:9JID&6I>DC
7G6C9:9
8DAA>H>DC8:CI:GH	JID&6I>DC-+JH:9K:=>8A:HIDG:H	JID&6I>DC
7G6C9:96JIDBDI>K:6J8I>DCDE:G6I>DCH	E6GIH
9>HIG>7JI>DC8:CI:GH	6BD7>A:6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:7JH>C:HH	6C96C6JID;>C6C8:8DBE6CN
/:D;;:G69>K:GH>;>:9G6C<:D;6JIDBDI>K:EGD9J8IH6C9H:GK>8:H	>C8AJ9>C<C:LK:=>8A:H	JH:9K:=>8A:H	XE6GIH6C9
H:GK>8:Y6AHDG:;:GG:9ID6HX;I:G
+6A:HY	L=>8=>C8AJ9:H6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H6HL:AA6H
L=DA:H6A:E6GIH6C98DAA>H>DC7JH>C:HH:H	6C96JIDBDI>K:X;>C6C8:6C9>CHJG6C8:YEGD9J8IH6AHDG:;:GG:9ID6HXJHIDB:G
>C6C8>6A+:GK>8:HY	L=>8=>C8AJ9:K:=>8A:H:GK>8:6C9DI=:GEGDI:8I>DCEGD9J8IH	6HL:AA6HI=:6GG6C<>C<D;;>C6C8>C<;DG
K:=>8A:EJG8=6H:HI=GDJ<=I=>G9
E6GIN;>C6C8:HDJG8:H/:6AHDD;;:G>C9>G:8I;>C6C8>C<I=GDJ<=DJG86EI>K:6JID;>C6C8:
8DBE6CNDCK:=>8A:HL:H:AADG8DCK:C>:C8:	I=:I:GBHXJID&6I>DC	YXDBE6CN	YXL:	YXJH	Y6C9XDJGY6G:JH:9ID
G:;:G8DAA:8I>K:ANIDJID&6I>DC	!C86C9>IHHJ7H>9>6G>:H	JCA:HHDI=:GL>H:G:FJ>G:97NI=:8DCI:MI'JGHIDG:6C9DI=:G
DE:G6I>DCH6G:8DC9J8I:97NDJGHJ7H>9>6G>:H

'9/95,8+9+4:':/54
,=:688DBE6CN>C<DCHDA>96I:9>C6C8>6A+I6I:B:CIH>C8AJ9:I=:688DJCIHD;JID&6I>DC	!C86C9>IHHJ7H>9>6G>:HAA
D;DJG6JIDBDI>K:9:6A:GH=>EHJ7H>9>6G>:H6G:>C9>G:8IANL=DAANDLC:97NI=:E6G:CI8DBE6CN	JID&6I>DC	!C8
!CI:G8DBE6CN688DJCIH6C9IG6CH68I>DCH=6K:7::C:A>B>C6I:9>CI=:8DCHDA>96I>DC
:GI6>C6BDJCIH;GDBI=:EG:K>DJHANG:EDGI:9;>C6C8>6AHI6I:B:CIH=6K:7::CG:8A6HH>;>:9ID8DC;DGBIDI=:;>C6C8>6A
HI6I:B:CIEG:H:CI6I>DCD;I=:8JGG:CIE:G>D9
 9+5,9:/3':+9
,=:EG:E6G6I>DCD;;>C6C8>6AHI6I:B:CIH>C8DC;DGB>INL>I=-+<:C:G6AAN688:EI:9688DJCI>C<EG>C8>EA:HG:FJ>G:H
B6C6<:B:CIIDB6@::HI>B6I:H6C96HHJBEI>DCHI=6I6;;:8II=:G:EDGI:96BDJCIHD;6HH:IH6C9A>67>A>I>:H	I=:9>H8ADHJG:D;
8DCI>C<:CI6HH:IH6C9A>67>A>I>:H6II=:96I:D;I=:;>C6C8>6AHI6I:B:CIH	6C9I=:G:EDGI:96BDJCIHD;G:K:CJ:6C9:ME:CH:H
9JG>C<I=:G:EDGI>C<E:G>D9!CEG:E6G>C<I=:H:;>C6C8>6AHI6I:B:CIH	B6C6<:B:CI=6HB69:>IH7:HI:HI>B6I:H6C9?J9C6BDJCIH>C8AJ9:9>CI=:;>C6C8>6AHI6I:B:CIH/:76H:DJG:HI>B6I:H6C9?J9HIDG>86A:ME:G>:C8:6C9
DI=:G6HHJBEI>DCHI=6IL:7:A>:K:6G:G:6HDC67A: DL:K:G	6EEA>86I>DCD;I=:H:688DJCI>C<EDA>8>:H>CKDAK:HI=::M:G8>H:
D;?J9DCH6HID;JIJG:JC8:GI6>CI>:H6C9	6H6G:HJAI	68IJ6AG:HJAIH8DJA99>;;:GB6I:G>6AAN;GDB
I=:H::HI>B6I:H/:E:G>D9>86AAN:K6AJ6I::HI>B6I:H6C96HHJBEI>DCHJH:9>CI=:EG:E6G6I>DCD;I=:;>C6C8>6AHI6I:B:CIH6C9
B6@:8=6C<:HDC6EGDHE:8I>K:76H>HL=:C69?JHIB:CIH6G:C:8:HH6GN+J8=:HI>B6I:H6C96HHJBEI>DCH6;;:8I	6BDC<DI=:G
I=>CAA	>C9:;>C>I:
A>K:9>CI6C<>7A:6HH:I	6C9ADC<
A>K:96HH:IK6AJ6I>DCH>CK:CIDGNK6AJ6I>DC:FJ>IN
>CK:HIB:CIK6AJ6I>DC6HH:IH=:A9;DGH6A:6HH:HHB:CIHD;K6G>67A:8DCH>9:G6I>DC6C9G:A6I:98DCHIG6>CIH6HHD8>6I:9L>I=
G:IGDHE:8I>K:8DBB>HH>DCH688GJ6AH;DG8=6G<:768@H6<6>CHIG:K:CJ:G:8DO:9;GDBI=:H6A:D;;>C6C8:6C9>CHJG6C8:
EGD9J8IH688GJ6AHG:A6I:9IDH:A;
>CHJG6C8:EGDIADHH:H8:GI6>CA:<6AEGD8::9>CC8DB:I6M:ME:CH:9:;:GG:9>C8DB:I6M:H6C9>C8DB:I6M8DCI>C<:C8>:H6C9B:6HJG:B:CID;
E:G;DGB6C8:
76H:98DBE:CH6I>DC8DHIH
)(#"(#""	
"#('(##"'# ("" '((!"('
99A/093@7;:7997<;@3E13=A=3?@6/?32/A/


'9.'4*'9.7;/<'2+4:9
/:8DCH>9:G6AA=><=ANA>FJ>9>CK:HIB:CIHL>I=6B6IJG>IND;I=G::BDCI=HDGA:HH6HD;I=:96I:D;EJG8=6H:ID7:86H=
:FJ>K6A:CIHJCA:HHI=:>CK:HIB:CIH6G:A:<6AANDG8DCIG68IJ6AANG:HIG>8I:9;DGBDG:I=6CI=G::BDCI=H-C9:GDJG86H=
B6C6<:B:CIHNHI:B	DJIHI6C9>C<8=:8@HI=6I6G:>C:M8:HHD;I=:86H=76A6C8:H6I8:GI6>C76C@H6G:>C8AJ9:9>C88DJCIH
(6N67A:>CI=:DCHDA>96I:96A6C8:+=::IH6C98=6C<:H>CI=:H:6BDJCIH6G:G:;A:8I:9>CDE:G6I>C<86H=;ADLH>CI=:
688DBE6CN>C<DCHDA>96I:9+I6I:B:CIHD;6H=ADLH
;:55'49+)+/<'(2+
JIDAD6CHG:8:>K67A:>C8AJ9:6BDJCIH9J:;GDB8JHIDB:GHG:A6I:9IDG:I6>AK:=>8A:H6A:H;>C6C8:9I=GDJ<=DJG86EI>K:
6JID;>C6C8:8DBE6CN	6HL:AA6HG:I6>AK:=>8A:>CHI6AAB:CIH6A:H8DCIG68IH68FJ>G:9I=GDJ<=I=>G9
E6GIN9:6A:GHEG>DGID
'8ID7:G
JIDAD6CHG:8:>K67A:6G:EG:H:CI:9C:ID;6C6AADL6C8:;DG:ME:8I:98G:9>IADHH:H+::&DI:D;I=:&DI:H
IDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG699>I>DC6A>C;DGB6I>DCDCDJGH>;>86CI688DJCI>C<EDA>8>:HG:A6I:9ID6JIDAD6CH
G:8:>K67A:6C9I=:6AADL6C8:;DG:ME:8I:98G:9>IADHH:H
/4'4)/4-'4*+);8/:/@':/548'49'):/549
,=GDJ<=L=DAAN
DLC:9	76C@GJEI8N
G:BDI:	HE:8>6AEJGEDH::CI>I>:H	L:JI>A>O:L6G:=DJH:;68>A>I>:HID;JC96JIDAD6CH
G:8:>K67A:DG><>C6I:97NDJG86EI>K:6JID;>C6C8:8DBE6CN/:6AHD=6K:I:GBH:8JG>I>O6I>DCHI=6IL:G:EJI>CEA68:EG>DGID
DJG68FJ>H>I>DCD;DJG86EI>K:6JID;>C6C8:8DBE6CNIDEGDK>9:ADC<
I:GB;JC9>C<;DG8:GI6>C6JIDAD6CHG:8:>K67A:>C>I>6AAN
;JC9:9I=GDJ<=I=:L6G:=DJH:;68>A>I>:H!CI=:H:IG6CH68I>DCH	6EDDAD;6JIDAD6CHG:8:>K67A:>HHDA9ID676C@GJEI8N
G:BDI:	HE:8>6AEJGEDH::CI>INI=6I	>CIJGC	IG6CH;:GHI=:G:8:>K67A:HID6HE:8>6AEJGEDH:H:8JG>I>O6I>DCIGJHI,=:
H:8JG>I>O6I>DCIGJHI>HHJ:H6HH:I
768@:9H:8JG>I>:H	H:8JG:9DGDI=:GL>H:HJEEDGI:97NI=:IG6CH;:GG:9G:8:>K67A:H	6C9I=:
EGD8::9H;GDBI=:H6A:D;I=:6HH:I
768@:9H:8JG>I>:H6G:JH:9ID;>C6C8:I=:H:8JG>I>O:9G:8:>K67A:H/:6G:G:FJ>G:9ID
:K6AJ6I:I=:I:GBH:8JG>I>O6I>DCIGJHIH;DG8DCHDA>96I>DC+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG
BDG:>C;DGB6I>DCDCDJGCDC
G:8DJGH:9:7I6C98DCHDA>96I>DCD;K6G>67A:>CI:G:HI:CI>I>:H
4<+4:58?
!CK:CIDGN8DCH>HIHEG>B6G>AND;C:L6C9JH:9K:=>8A:H=:A9;DGH6A:	K6AJ:96II=:ADL:GD;8DHIDGC:IG:6A>O67A:K6AJ:
JH>C<I=:HE:8>;>8>9:CI>;>86I>DCB:I=D9DHI>C8AJ9:H68FJ>H>I>DC	G:8DC9>I>DC>C<	9:6A:G>CHI6AA:9688:HHDG>:H	6C9
IG6CHEDGI6I>DC:ME:CH:H'JGC:LK:=>8A:>CK:CIDGN8DHIH6G:<:C:G6AANG:9J8:97NB6CJ;68IJG:G=DA9768@HE:G8:CI6<:D;
:>I=:GI=:B6CJ;68IJG:GZHHJ<<:HI:9G:I6>AEG>8:DG>CKD>8:EG>8:D;6C:LK:=>8A:I=6II=:B6CJ;68IJG:GG:E6NHIDI=:
9:6A:G	>C8:CI>K:H	;ADDGEA6C6HH>HI6C8:	6C9CDC
G:>B7JGH:B:CI
76H:9B6CJ;68IJG:G69K:GI>H>C<6HH>HI6C8:(6GIH	
688:HHDG>:H	6C9DI=:G>CK:CIDGN6G:K6AJ:96II=:ADL:GD;8DHIDGC:IG:6A>O67A:K6AJ:+::&DI:D;I=:&DI:HID
DCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:9:I6>A:9>C;DGB6I>DC67DJIDJG>CK:CIDGN
856+8:?'4*7;/63+4:4+:
(GDE:GIN6C9:FJ>EB:CI6G:G:8DG9:96I8DHIA:HH688JBJA6I:99:EG:8>6I>DCME:C9>IJG:H;DGB6?DG699>I>DCH6C9
>BEGDK:B:CIH6G:86E>I6A>O:9	L=>A:B>CDGG:EA68:B:CIH	B6>CI:C6C8:	6C9G:E6>GH6G:8=6G<:9ID:ME:CH:6H>C8JGG:9!C
699>I>DC	L:86E>I6A>O:>CI:G:HIDC7DGGDL>CC<I=:68I>K:8DCHIGJ8I>DCE:G>D9D;86E>I6AEGD?:8IH6E>I6A>O:9>CI:G:HI
>H699:9IDI=:8DHID;I=:6HH:IH6C99:EG:8>6I:9DK:GI=::HI>B6I:9JH:;JAA>K:HD;I=:6HH:IH$:6H:9EGDE:GINB::I>C<
8:GI6>C8G>I:G>6>H86E>I6A>O:96H6;>C6C8:A:6H:G><=I
D;
JH:6HH:I6C9I=:EG:H:CIK6AJ:D;I=:G:A6I:9A:6H:E6NB:CIH>H
G:8DG9:96H6A>67>A>IN6C9>C8AJ9:9>C8JGG:CI6C9DGADC<
I:GB9:7I76H:9DCI=:A:6H:I:GB/=:CEGDE:GIN>HG:I>G:9DG
DI=:GL>H:9>HEDH:9D;	I=:8DHI6C9688JBJA6I:99:EG:8>6I>DC6G:G:BDK:9;GDBI=:688DJCIH6C96CNG:HJAI>C<<6>CDGADHH
>HG:;A:8I:9>C'I=:G!C8DB:	&:IL>I=>C'E:G6I>C<!C8DB:>CI=:DCHDA>96I:9+I6I:B:CIHD;!C8DB:+::&DI:D;I=:
&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG9:I6>A:9>C;DGB6I>DC67DJIDJGEGDE:GIN6C9:FJ>EB:CI
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


:EG:8>6I>DC>HG:8DG9:9DK:GI=::HI>B6I:9JH:;JAA>K:HD;I=:6HH:IH>CKDAK:9JH>C<I=:HIG6><=I
A>C:B:I=D9$:6H:=DA9
>BEGDK:B:CIH6C9;>C6C8:A:6H:G><=I
D;
JH:6HH:IH6G:6BDGI>O:9ID9:EG:8>6I>DC:ME:CH:DK:GI=::HI>B6I:9JH:;JAA>;:D;
I=:6HH:IDGI=:G:HE:8I>K:A:6H:I:GBJH:9>C9:I:GB>C>C<A:6H:8A6HH>;>86I>DC	L=>8=:K:G>HH=DGI:G,=:G6C<:D;:HI>B6I:9
JH:;JAA>K:H>H6H;DAADLH
J>A9>CBEGDK:B:CIH
ID
N:6GH
JGC>IJG:	;>MIJG:H	6C9:FJ>EB:CI
ID
N:6GH
/:8DCI>CJ6AAN:K6AJ6I:EGDE:GIN6C9:FJ>EB:CI	>C8AJ9>C<A:6H:=DA9>BEGDK:B:CIH	ID9:I:GB>C:L=:I=:G:K:CIHDG
8=6C<:H>C8>G8JBHI6C8:H=6K:D88JGG:9I=6IB6NL6GG6CIG:K>H>DCD;I=::HI>B6I:9JH:;JAA>;:DGL=:I=:GI=:G:B6>C>C<
76A6C8:H=DJA97::K6AJ6I:9;DGEDHH>7A:>BE6>GB:CI+J8=:K:CIHDG8=6C<:H>C8>G8JBHI6C8:HB6N>C8AJ9:6H>;>86CI
9:8G:6H:>CB6G@:IK6AJ:	6H>;>86CI8=6C<:>CI=:7JH>C:HH8A>B6I:>C6E6GI>8JA6GB6G@:I	68JGG:CI:ME:8I6I>DCI=6I
BDG:
A>@:AN
I=6C
CDI6ADC<
A>K:96HH:IL>AA7:HDA9DGDI=:GL>H:9>HEDH:9D;H>;>86CIAN7:;DG:I=::C9D;>IHEG:K>DJHAN
:HI>B6I:9JH:;JAA>;:	DG68JGG:CI
E:G>D9DE:G6I>C<DG86H=;ADLADHH8DB7>C:9L>I==>HIDG>86AADHH:HDGEGD?:8I:9;JIJG:
ADHH:H/:JH:6C:HI>B6I:D;I=:G:A6I:9JC9>H8DJCI:986H=;ADLHDK:GI=:G:B6>C>C<A>;:D;I=:6HH:I6HH:IC
6HH:HH>C<L=:I=:G6C6HH:I6HH:IHG:8DK:G67A:!;I=:6HH:I6HH:IHCDIG:8DK:G67A:	L:9:I:GB>C:I=:;6>G
K6AJ:D;I=:6HH:I6HH:ICEJIH	6C9B:6HJG:>BE6>GB:CIADHH:H76H:9JEDCI=:6BDJCI7NL=>8=
I=:86GGN>C<6BDJCID;I=:6HH:I6HH:IGK6AJ:!;L:G:8DO:6C>BE6>GB:CIADHHDC69:EG:8>67A:
ADC<
A>K:96HH:I	I=:69?JHI:986GGN>C<6BDJCID;I=:6HH:I7:8DB:H>IHC:L8DHI76H>H	L=>8=>H9:EG:8>6I:9DK:GI=:
G:B6>C>C<JH:;JAA>;:D;I=6I6HH:I
/=:CEGDE:GIN6C9:FJ>EB:CI6G:>9:CI>;>:96H=:A9;DGH6A:	L:G:8A6HH>;NI=:=:A9;DGH6A:6HH:IHID'I=:GJGG:CI
HH:IH6C98:6H:G:8DG9>C<9:EG:8>6I>DC/:B:6HJG::68=ADC<
A>K:96HH:IDG9>HEDH6AIH86GGN>C<
6BDJCIDG;6>GK6AJ:A:HH8DHIIDH:AA6C9G:8DO:6ADHH;DG6CN>C>I>6A69?JHIB:CID;I=:ADC<
A>K:96HH:IZHDG9>HEDH6A
C<6BDJCIID;6>GK6AJ:A:HH8DHIIDH:AA>CI=:E:G>D9I=:X=:A9;DGH6A:Y8G>I:G>66G:B:I+J8=K6AJ6I>DCH
>C8AJ9::HI>B6I>DCHD;;6>GK6AJ:H6C9>C8G:B:CI6A9>G:8I8DHIHIDIG6CH68I6H6A:,=:;6>GK6AJ:B:6HJG:B:CIH;DGDJGADC<
A>K:96HH:IH=:A9;DGH6A:6G:76H:9DC$:K:A>CEJIH	L=>8=8DCH>9:G>C;DGB6I>DCD7I6>C:9;GDBI=>G9
E6GING:6A:HI6I:
K6AJ6I>DCHDJG8:H	DG	>C8:GI6>C86H:H	E:C9>C<6O:6C>BE6>GB:CIADHH>;I=:
6BDJCID;I=:6HH:IZHDG9>HEDH6AC<6BDJCI:M8::9HI=:6HH:IZHDG9>HEDH6AB6I:9;6>GK6AJ:A:HH
8DHIIDH:AA
HH:IH=:A9;DGH6A:6G:G:EDGI:9>CI=:XDGEDG6I:6C9DI=:GY86I:C;DGB6I>DC/:=696HH:IH=:A9
;DGH6A:D;B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	

+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG>C;DGB6I>DC67DJIDJG;6>GK6AJ:B:6HJG:B:CI
K6AJ6I>DCEGD8:HH6C9>BE6>GB:CI8=6G<:HI=6IL:G:G:8DG9:99JG>C<
	
	6C9

+'9+9
/:A:6H:CJB:GDJH;68>A>I>:H6C9K6G>DJHINE:HD;:FJ>EB:CIG:A6I>C<IDDJGDE:G6I>DCH+::&DI:
D;I=:&DI:HID
DCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG69>H8JHH>DCD;DJGH>;>86CI688DJCI>C<EDA>8>:HG:A6I:9IDA:6H:H
55*=/22'4*:.+84:'4-/(2+99+:94+:
DD9L>AA8DCH>HIHD;I=:8DHID;68FJ>G:97JH>C:HH:H>C:M8:HHD;I=:;6>GK6AJ:D;I=:C:I6HH:IH68FJ>G:999>I>DC6AAN	
DI=:G>CI6C<>7A:6HH:IH6G:H:E6G6I:ANG:8DO:9>;I=:7:C:;>ID;I=:>CI6C<>7A:6HH:I>HD7I6>C:9I=GDJ<=8DCIG68IJ6ADG
DI=:GA:<6AG><=IH	DG>;I=:>CI6C<>7A:6HH:I86C7:HDA9	IG6CH;:GG:9	A>8:CH:9	G:CI:9	DG:M8=6C<:9	G:<6G9A:HHD;DJG>CI:CI
ID9DHD
'JGEG>C8>E6A>9:CI>;>67A:>CI6C<>7A:6HH:IH6G:G><=IHJC9:G;G6C8=>H:6I=K:=>8A:B6CJ;68IJG:GH/:
<:C:G6AAN:ME:8IDJG;G6C8=>H:6K:;DGI=:;DG:H::67A:;JIJG:6C9	L=:CI=:6C9:;>C>I:I:GBH	6CI>8>E6I:GDJI>C:G:C:L6AHD;I=:6I=DJIHJ7HI6CI>6A8DHI,=:8DCIG68IJ6AI:GBHD;DJG
;G6C8=>H:69:;DGK6G>DJH9JG6I>DCH	G6C<>C<;GDBDC:N:6GIDCD:ME>G6I>DC96I:	6C9>C8:GI6>C86H:H	
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


B6CJ;68IJG:GH=6K:JC9:GI6@:CIDG:C:LHJ8=;G6C8=>H:HJEDC:ME>G6I>DCHDADC<6HI=:9:6A:GH=>E>H>C8DBEA>6C8:L>I=
I=:I:GBHD;I=:6C<:C:G6A	I=:HI6I:H>CL=>8=L:DE:G6I:=6K:6JIDBDI>K:9:6A:GH=>E;G6C8=>H:A6LH
I=6IEGDK>9:I=6I	CDIL>I=HI6C9>C<I=:I:GBHD;6CN;G6C8=>H:6I>HJCA6L;JA;DG6B6CJ;68IJG:GIDI:GB>C6I:DG
CDIG:C:L6;G6C8=>H:JCA:HHXHIH!I>H<:C:G6AAN9>;;>8JAI	DJIH>9:D;76C@GJEI8N	;DG6B6CJ;68IJG:GID
I:GB>C6I:DGCDIG:C:L6;G6C8=>H:JC9:GI=:H:;G6C8=>H:A6LH	L=>8=L:G:9:H>I>DC	>CDJG
:ME:G>:C8:6C9=>HIDG>86AAN>CI=:6JIDBDI>K:G:I6>A>C9JHIGN	9:6A:GH=>E;G6C8=>H:6CKDAJCI6G>AN
I:GB>C6I:9DGCDIG:C:L:97NI=:B6CJ;68IJG:GDJIH>9:D;76C@GJEI8N88DG9>C:K:I=6IDJG;G6C8=>H:
6AA8DCIG>7JI:ID86H=;ADLH;DGI=:;DG:H::67A:;JIJG:6C9=6K:>C9:;>C>I:A>K:H'I=:G>CI6C<>7A:6HH:IH6G:
6BDGI>O:9JH>C<6HIG6><=I
A>C:B:I=D9DK:GI=:>GJH:;JAA>K:H	<:C:G6AANG6C<>C<;GDBI=G::IDI=>GINN:6GH
/:9DCDI6BDGI>O:AADG;G6C8=>H:G><=IH6HH:IHDD9L>AA6C9;G6C8=>H:G><=IH6G:I:HI:9;DG>BE6>GB:CI
6CCJ6AANDGBDG:;G:FJ:CIANL=:C:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I>BE6>GB:CIB6N=6K:D88JGG:9JG>C<

	L:9>9CDIG:8DG96CNAA>BE6>GB:CI8=6G<:H6C9G:8DG9:9B>AA>DCD;;G6C8=>H:G><=IH>BE6>GB:CI
8=6G<:HJG>C<
6C9
	L:9>9CDIG:8DG96CNAADG;G6C8=>H:G><=IH>BE6>GB:CI8=6G<:H+::&DI:D;I=:
&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC67DJIDJGAA6C9DI=:G>CI6C<>7A:6HH:IH6C9&DI:
D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG>C;DGB6I>DC67DJIDJG>BE6>GB:CII:HIHD;AA6C9;G6C8=>H:
G><=IH
:.+8;88+4:99+:9
'I=:G8JGG:CI6HH:IH8DCH>HID;K6G>DJH>I:BH	>C8AJ9>C<	6BDC<DI=:G>I:BH	EG:E6>9:ME:CH:H	9:EDH>IH	6HH:IH=:A9;DG
H6A:	6C98DCIG68I6HH:IH'I=:G8JGG:CI6HH:IH6AHD>C8AJ9:G:HIG>8I:986H=DC9:EDH>I>CG:H:GK:688DJCIH;DGI=:7:C:;>ID;
=DA9:GHD;8:GI6>CCDC
G:8DJGH:9:7I,=:H:;JC9H6G:CDI:ME:8I:9ID7:6K6>A67A:IDI=:8DBE6CNDG>IH8G:9>IDGH
:.+899+:9
'I=:G6HH:IH8DCH>HID;K6G>DJH>I:BH	>C8AJ9>C<	6BDC<DI=:G>I:BH	H:GK>8:AD6C:G6C9G:CI6AK:=>8A:>CK:CIDGN	C:I	I=:
86H=HJGG:C9:GK6AJ:D;8DGEDG6I:
DLC:9A>;:>CHJG6C8:=:A9>C6*677>,GJHI;DG9:;:GG:98DBE:CH6I>DCEA6CE6GI>8>E6CIH	
6C9>CK:HIB:CIH>C:FJ>INH:8JG>I>:H
:.+8;88+4:/'(/2/:/+9
'I=:G8JGG:CIA>67>A>I>:H8DCH>HID;K6G>DJH>I:BHE6N67A:L>I=>CDC:N:6G>C8AJ9>C<	6BDC<DI=:G>I:BH	688GJ6AH;DG
E6NGDAA6C97:C:;>IH	H6A:HI6M:H	I=:8JGG:CIEDGI>DCHD;;>C6C8:6C9>CHJG6C8:8=6G<:768@A>67>A>I>:H6C9DE:G6I>C<A:6H:
A>67>A>I>:H	8JHIDB:G9:EDH>IH	>C8DB:I6M:HE6N67A:	688GJ:9:ME:CH:H	6C9688GJ:9>CI:G:HIE6N67A:
:.+8/'(/2/:/+9
'I=:GA>67>A>I>:H8DCH>HID;K6G>DJH>I:BHE6N67A:7:NDC9DC:N:6G>C8AJ9>C<	6BDC<DI=:G>I:BH	I=:ADC<
I:GBEDGI>DCH
D;9:;:GG:98DBE:CH6I>DCD7A><6I>DCH	;>C6C8:6C9>CHJG6C8:8=6G<:768@A>67>A>I>:H	8DCIG68IA>67>A>I>:H	6C9H:A;
>CHJG6C8:
A>67>A>I>:H
3625?++'6I:H6C9EGDK>9:96B6I8=>C<8DCIG>7JI>DCID8:GI6>C6HHD8>6I:HI=6IE6GI>8>E6I:
>CI=:EA6CD;B>AA>DC>C
	B>AA>DC>C
	6C9B>AA>DC>C
BEADN:GB6I8=>C<8DCIG>7JI>DCH
6G:;JAANK:HI:9>BB:9>6I:ANJEDC8DCIG>7JI>DC
/:D;;:G69:;:GG:98DBE:CH6I>DCEA6CI=:X(A6CYIDEGDK>9:8:GI6>C6HHD8>6I:H6C9CDC
:BEADN::9>G:8IDGHL>I=I=:
DEEDGIJC>INID688JBJA6I:6HH:IH;DGG:I>G:B:CIDC6I6M
9:;:GG:976H>H(6GI>8>E6CIH>CI=:(A6C6G:6AADL:9ID9:;:G6
EDGI>DCD;I=:>G8DBE:CH6I>DC6C96G:;JAANK:HI:9>CI=:>GG:HE:8I>K:9:;:GG6AH6C9:6GC>C8>E6CIHB6N8=DDH:;GDB
6K6G>:IND;>CK:HIB:CIDEI>DCH	L=>8=9:I:GB>C:I=:>G:6GC>CIH/:EGDK>9:96B6I8=>C<8DCIG>7JI>DCID:BEADN::
E6GI>8>E6CIH>CI=:(A6CD;
B>AA>DC;DG
	B>AA>DC;DG
	6C9B>AA>DC;DG
'C:
I=>G9D;I=:
B6I8=>C<8DCIG>7JI>DC>HK:HI:96C98G:9>I:9IDE6GI>8>E6CIHDCI=:;>GHI96ND;I=:HJ7H:FJ:CI86A:C96GN:6G	6C96C
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


699>I>DC6ADC:
I=>G9K:HIH6C9>H8G:9>I:9DC:68=D;I=:;>GHI6C9H:8DC96CC>K:GH6G>:HD;HJ8=96I:/:B6N6AHDB6@:
9>H8G:I>DC6GN8DCIG>7JI>DCH	L=>8=K:HII=G::N:6GH6;I:GI=::;;:8I>K:96I:D;I=:9>H8G:I>DC6GN8DCIG>7JI>DC,=:76A6C8:H
9J:IDE6GI>8>E6CIH>CI=:(A6CL:G:B>AA>DC6HD;:8:B7:G	
	6C9B>AA>DC6HD;:8:B7:G	
	
6C96G:>C8AJ9:9>C'I=:GJGG:CI$>67>A>I>:H6C9'I=:G$>67>A>I>:H>CI=:688DBE6CN>C<DCHDA>96I:96A6C8:+=::IH
:5)1
'9+*536+49':/54
/:CI=:;DGBD;I>B:
76H:9	E:G;DGB6C8:
76H:9	6C9B6G@:I
76H:9G:HIG>8I:9HID8@JC>IH
X*+-HY	L=>8=6G:>HHJ:9;GDBDJGIG:6HJGNHID8@JEDCK:HI>C<DBE:CH6I>DC8DHI;DGI>B:
76H:96C9E:G;DGB6C8:
76H:9*+-H>H76H:9DCI=:8ADH>C<EG>8:D;DJG8DBBDCHID8@DCI=:96I:D;DC8DHI;DGB6G@:I
76H:9
*+-H>H76H:9DCI=:;6>GK6AJ:D;I=:6L6G986A8JA6I:9JH>C<6%DCI:6GADH>BJA6I>DCBD9:ADCI=:96I:D;CD;DJG:FJ>IN
76H:98DBE:CH6I>DCEA6CH8DCI6>CEGDK>H>DCHI=6IEGDK>9:;DGK:HI>C<D;6L6G9HJEDCG:I>G:B:CI
88DG9>CDC8DHI;DGI>B:
76H:9*+-H>HG:8DO:9DC6HIG6><=I
A>C:76H>HDK:GI=:H=DGI:GD;I=:HI6I:9
K:HI>C<E:G>D9DGI=:E:G>D9JCI>A6HHD8>6I:H7:8DB:G:I>G:B:CI
:A><>7A:DBE:CH6I>DC8DHI;DGE:G;DGB6C8:
76H:9*+-H>H
G:8DO:976H:9DCI=::ME:8I:968=>:K:B:CIA:K:AD;I=:E:G;DGB6C8:8=>H:K6AJ6I:9DK:GI=:E:G;DGB6C8:
E:G>D9	6C9G:8DO:9DK:GI=:H=DGI:GD;I=:HI6I:9K:HI>C<E:G>D9DGI=:E:G>D9JCI>A6HHD8>6I:H7:8DB:G:I>G:B:CI
:A><>7A:DBE:CH6I>DC8DHI;DGB6G@:I
76H:9*+-H>HG:8DO:9DK:GI=:H=DGI:GD;I=:HI6I:9K:HI>C<E:G>D9DGI=:E:G>D9
JCI>A6HHD8>6I:H7:8DB:G:I>G:B:CI
:A><>7A:	G:<6G9A:HHD;L=:I=:GI=:B6G@:I8DC9>I>DC>HH6I>H;>:9/:688DJCI;DG
;DG;:>IJG:HD;HID8@
76H:96L6G9H6HI=:ND88JG+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:
>C;DGB6I>DC67DJIDJGHID8@
76H:98DBE:CH6I>DC6GG6C<:B:CIH
+<+4;++)5-4/:/54
*:K:CJ:8DCH>HIHD;I=:H6A:HD;C:L6C9JH:9K:=>8A:H	H6A:HD;E6GIH6C96JIDBDI>K:H:GK>8:H	8DBB>HH>DCH;DGI=:
EA68:B:CID;;>C6C8:6C9>CHJG6C8:EGD9J8IH	6C9H6A:HD;DI=:GEGD9J8IH+::&DI:D;I=:&DI:HIDDCHDA>96I:9
>C6C8>6A+I6I:B:CIH;DG69>H8JHH>DCD;DJGH>;>86CI688DJCI>C<EDA>8>:HG:A6I:9IDG:K:CJ:G:8DI>DC
;:5':/54/4'4)+4)53+599
JID&6I>DC>C6C8:!C8DB:$DHH>C8AJ9:HI=:G:HJAIHD;DJG86EI>K:6JID;>C6C8:8DBE6CN+::&DI:D;I=:&DI:HID
DCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC
49;8'4)+
-C9:GDJGH:A;
>CHJG6C8:EGDCK6G>DJHA:K:AHD;6<B>IH	E:G8A6>B9:9J8I>7A:H	6C98A6>BH
=6C9A>C<:ME:CH:H6HE6GID;DJGK6G>DJH>CHJG6C8:EGDC8AJ9>C<EGDE:GIN6C986HJ6AIN	6JIDBD7>A:	LDG@:GHZ
8DBE:CH6I>DC	6C9:BEADN::B:9>86A7:C:;>IHDHIH>C:M8:HHD;I=>HG:I6>C:9G>H@E:G8A6>BB6N7:>CHJG:9JC9:GK6G>DJH
8DCIG68IHL>I=I=>G9
E6GIN>CHJG6C8:86GG>:GH/:G:K>:LDJG8A6>B6C9ADHH=>HIDGNDC6E:G>D9>876H>HID6HH>HI>C6HH:HH>C<
DJG;JIJG:A>67>A>IN,=:JAI>B6I:8DHIHD;I=:H:G:I6>C:9>CHJG6C8:G>H@H	>C8AJ9>C<G:A6I:9A:<6A8DHIH	6G::HI>B6I:97N
B6C6<:B:CI6C97NI=>G9
E6GIN68IJ6G>6A:K6AJ6I>DCD;=>HIDG>86A8A6>BH:ME:G>:C8:	69?JHI:9;DG8JGG:CIIG:C9H6C98=6C<:H
>C8A6>BH
=6C9A>C<EGD8:9JG:H+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DCDCDJG
H:A;
>CHJG6C8:A>67>A>I>:H
'4;,'):;8+84)+4:/<+9'4*:.+8+(':+9
/:G:8:>K:K6G>DJH>C8:CI>K:H;GDBB6CJ;68IJG:GH76H:9DC68=>:K>C<8:GI6>CD7?:8I>K:H	HJ8=6HHE:8>;>:9H6A:HKDAJB:
I6G<:IH	6HL:AA6HDI=:GD7?:8I>K:H	>C8AJ9>C<B6>CI6>C>C<HI6C96G9HD;6E6GI>8JA6GK:=>8A:7G6C9	L=>8=B6N>C8AJ9:7JI
6G:CDIA>B>I:9ID;68>A>IN>B6<:6C99:H>G:B:CIH	8JHIDB:GH6I>H;68I>DCHJGK:NG:HJAIH	6C9IG6>C>C<HI6C96G9H	
6BDC<DI=:GH,=:H:>C8:CI>K:H6G:INE>86AAN76H:9JEDCJC>IHEJG8=6H:9DGHDA9,=:H:B6CJ;68IJG:G>C8:CI>K:H6G:
G:8DO:96H6G:9J8I>DCD;C:LK:=>8A:8DHID;H6A:HL=:C:6GC:9	<:C:G6AAN6II=:I>B:I=:G:A6I:9K:=>8A:H6G:HDA9DG
JEDC6II6>CB:CID;I=:E6GI>8JA6GEGD8=:K:G>HA6I:G
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


/:6AHDG:8:>K:B6CJ;68IJG:GG:76I:H6C96HH>HI6C8:;DG=DA9768@H	;ADDGEA6C>CI:G:HI	6C9CDC
G:>B7JGH:B:CI
76H:9
69K:GI>H>C<:ME:CH:H9:H8G>7:97:ADL	L=>8=6G:G:;A:8I:96H6G:9J8I>DC>CI=:86GGN>C<K6AJ:D;:68=K:=>8A:EJG8=6H:9
7NJH/:G:8DO:=DA9768@H	;ADDGEA6C>CI:G:HI6HH>HI6C8:	CDC
G:>B7JGH:B:CI
76H:969K:GI>H>C<G:76I:H	86H=
>C8:CI>K:H	6C9DI=:GG:76I:HG:8:>K:9;GDBB6CJ;68IJG:GHI=6I6G:I>:9IDHE:8>;>8K:=>8A:H6H6G:9J8I>DCID8DHID;H6A:H6H
I=:G:A6I:9K:=>8A:H6G:HDA9
*<+8:/9/4-
/:<:C:G6AAN:ME:CH:I=:8DHID;69K:GI>H>C<6H>C8JGG:9	C:ID;:6GC:9B6CJ;68IJG:GG:>B7JGH:B:CIH;DGHE:8>;>8
69K:GI>H>C<8DHIH6C9DI=:G9>H8DJCIH9K:GI>H>C<:ME:CH:	C:ID;B6CJ;68IJG:G69K:GI>H>C<G:>B7JGH:B:CIH	L6H
B>AA>DC>C
	B>AA>DC>C
	6C9B>AA>DC>C
	6C9>HG:;A:8I:96H68DBEDC:CID;+:AA>C<	
:C:G6A	6C99B>C>HIG6I>K:ME:CH:H>CI=:688DBE6CN>C<DCHDA>96I:9+I6I:B:CIHD;!C8DB:
%6CJ;68IJG:G69K:GI>H>C<G:76I:HI=6I6G:G:>B7JGH:B:CIHD;8DHIH6HHD8>6I:9L>I=HE:8>;>869K:GI>H>C<:ME:CH:H6G:
:6GC:9>C688DG96C8:L>I=I=:G:HE:8I>K:B6CJ;68IJG:GHZG:>B7JGH:B:CI
76H:969K:GI>H>C<6HH>HI6C8:EGD8=>H
INE>86AAN6;I:GL:=6K:>C8JGG:9I=:8DGG:HEDC9>C<69K:GI>H>C<:ME:CH:H	6C96G:G:;A:8I:96H6G:9J8I>DCD;69K:GI>H>C<
:ME:CH:%6CJ;68IJG:G69K:GI>H>C<G:>B7JGH:B:CIH8A6HH>;>:96H6CD;;H:IID69K:GI>H>C<:ME:CH:HL:G:
B>AA>DC>C

	B>AA>DC>C
	6C9B>AA>DC>C
AADI=:GCDC
G:>B7JGH:B:CI
76H:9B6CJ;68IJG:G69K:GI>H>C<
G:76I:HI=6I6G:CDI6HHD8>6I:9L>I=HE:8>;>869K:GI>H>C<:ME:CH:H6G:G:8DG9:96H6G:9J8I>DCD;>CK:CIDGN6C9G:8DO:96H
6G:9J8I>DCD;C:LK:=>8A:8DHID;H6A:H>CI=:E:G>D9I=:G:A6I:9K:=>8A:>HHDA9
'8:9'4*+88:9:E6GIB:CIHG:8DC9>I>DCI=:B6?DG>IND;JH:9K:=>8A:H68FJ>G:97NDJGJH:9K:=>8A:9:E6GIB:CIH
6C9E:G;DGBEG:E6G6IDGNLDG@6C9688:HHDGN>CHI6AA6I>DCDCC:LK:=>8A:H68FJ>G:97NDJGC:LK:=>8A:9:E6GIB:CIH,=:
E6GIH6C9H:GK>8:9:E6GIB:CIH8=6G<:I=:C:L6C9JH:9K:=>8A:9:E6GIB:CIH6H>;I=:NL:G:I=>G9E6GI>:H>CDG9:GID688DJCI
;DGIDI6A68I>K>INE:G;DGB:97NI=6I9:E6GIB:CI*:K:CJ:H6C98DHIHD;H6A:H6HHD8>6I:9L>I=I=:>CI:GC6ALDG@E:G;DGB:97N
DJGE6GIH6C9H:GK>8:9:E6GIB:CIH6G:G:;A:8I:9>CDJGE6GIH6C9H:GK>8:G:HJAIH>CDJGDCHDA>96I:9+I6I:B:CIHD;!C8DB:
&:L6C9JH:9K:=>8A:G:K:CJ:H6C98DHIHD;H6A:H6G:G:9J8:97NI=:6BDJCID;I=:>CIG68DBE6CN8=6G<:H6G:HJAI	I=:
G:K:CJ:H6C98DHIHD;H6A:H6HHD8>6I:9L>I=I=:>CI:GC6ALDG@E:G;DGB:97NDJGE6GIH6C9H:GK>8:9:E6GIB:CIH6G::A>B>C6I:9
>C8DCHDA>96I>DC/:6AHD9:;:G>CI:GC6AEGD;>I6HHD8>6I:9L>I=I=:>CI:GC6ALDG@E:G;DGB:97NDJGE6GIH6C9H:GK>8:
9:E6GIB:CIHDCDJGK:=>8A:>CK:CIDGNJCI>AHJ8=K:=>8A:H=6K:7::CHDA9
4)53+'>+9
/:;>A:68DCHDA>96I:9;:9:G6A>C8DB:I6MG:IJGC:;:GG:9>C8DB:I6M:H=6K:7::CEGDK>9:9;DGI:BEDG6GN9>;;:G:C8:H
7:IL::CI=:G:8DI>DCD;G:K:CJ:6C9:ME:CH:H;DG;>C6C8>6A6C9>C8DB:I6MG:EDGI>C<EJGEDH:H6C97:IL::CI=:I6M76H>H
D;6HH:IH6C9A>67>A>I>:H6C9I=:>GG:EDGI:96BDJCIH>CI=:;>C6C8>6AHI6I:B:CIH+::&DI:D;I=:&DI:HIDDCHDA>96I:9
>C6C8>6A+I6I:B:CIH;DGBDG:9:I6>A:9>C;DGB6I>DCG:A6I:9ID>C8DB:I6M:H
'84/4-9+8.'8+
6H>8:6GC>CH8DBEJI:97N9>K>9>C<C:I>C8DB:7NI=:L:><=I:96K:G6<:CJB7:GD;8DBBDCH=6G:H
DJIHI6C9>C<;DGI=:E:G>D9	>C8AJ9>C<K:HI:9*+-6L6G9H>AJI:9:6GC>CH8DBEJI:9JH>C<I=:IG:6HJGNHID8@
B:I=D97N9>K>9>C<C:I>C8DB:7NI=:L:><=I:96K:G6<:CJB7:GD;H=6G:HDJIHI6C9>C<	CDI:967DK:	>C8AJ9>C<I=:9>AJI>K:
:;;:8ID;JCK:HI:9*+-6L6G9H6C9HID8@DEI>DCH+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:
>C;DGB6I>DCDCI=:8DBEJI6I>DCD;:6GC>CHHJ:9+-


	+:C<,DE>8
!BEGDK:B:CIHID*:EDGI67A:
+:H8ADHJG:H	I=6IG:FJ>G:H9>H8ADHJG:D;H>;>86CIH::L:97NI=:8=>:;
DE:G6I>C<9:8>H>DCB6@:G6C9>C8AJ9:9L>I=>C:68=G:EDGI:9B:6HJG:D;H:IDGADHH,=:HI6C96G96AHDG:FJ>G:H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


9>H8ADHJG:D;I=:8DBEDH>I>DCD;DI=:GH:I:BH>C8AJ9:9>CI=:B:6HJG:D;H:IDGADHHI=6I6G:CDI
H:E6G6I:AN9>H8ADH:9,=:C:LHI6C96G9>H:;;:8I>K:;DG;>H86AN:6GH7:<>CC>C<6;I:G:8:B7:G	
	6C9>CI:G>BE:G>D9H
L>I=>C;>H86AN:6GH7:<>CC>C<6;I:G:8:B7:G	
6GAN69DEI>DC>HE:GB>II:9/:69DEI:9I=>H688DJCI>C<HI6C96G9
;DGDJG;>H86AN:6G7:<>CC>C<"6CJ6GN	
	G:IGDHE:8I>K:AN,=:G:;DG:	EG>DGE:G>D9H=6K:7::CJE96I:9ID8DC;DGBL>I=
I=:8JGG:CIE:G>D9EG:H:CI6I>DC+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGDJGG:EDGI67A:H:H8ADHJG:H
!C:8:B7:G
	I=:>C6C8>6A88DJCI>C<+I6C96G9HD6G9X+Y>HHJ:988DJCI>C<+I6C96G9-E96I:X+-Y



	!C8DB:,6M:H,DE>8
!BEGDK:B:CIHID!C8DB:,6M>H8ADHJG:H	I=6IG:FJ>G:HEG:H:CI6I>DCD;HE:8>;>8
86I::HD;G:8DC8>A>C<>I:BH	6HL:AA6HG:8DC8>A>C<>I:BHI=6IB::I6FJ6CI>I6I>K:I=G:H=DA9	>CI=:G:8DC8>A>6I>DC7:IL::C
I=:>C8DB:I6MEGDK>H>DC6C9I=:>C8DB:I6MEGDK>H>DCJH>C<HI6IJIDGNI6MG6I:H,=:HI6C96G96AHDG:FJ>G:H9>H8ADHJG:D;
>C8DB:I6M:HE6>99>H6<H9>8I>DCL>I=H:E6G6I:9>H8ADHJG:D;>C8DB:I6M:HE6>9ID>C9>K>9J6A?JG>H9>8I>DCH
I=6IB::I6FJ6CI>I6I>K:I=G:H=DA9,=:6B:C9B:CIH>CI=>H688DJCI>C<HI6C96G96G::;;:8I>K:;DG;>H86AN:6GH7:<>CC>C<6;I:G
:8:B7:G	
	DC6EGDHE:8I>K:76H>H6GAN69DEI>DC6C9G:IGDHE:8I>K:6EEA>86I>DC6G:E:GB>II:9/:9DCDI:ME:8I
I=:69DEI>DCD;I=>H688DJCI>C<HI6C96G9ID=6K:6C>BE68IDCDJGDCHDA>96I:9>C6C8>6A+I6I:B:CIH	7JIL>AAG:FJ>G:
8:GI6>C699>I>DC6A9>H8ADHJG:H
!C&DK:B7:G
	I=:+>HHJ:9+-


	!C8DB:+I6I:B:CIW*:EDGI>C<DBEG:=:CH>K:!C8DB:WME:CH:
>H6<DC>H8ADHJG:H+J7IDE>8

>H6<DCD;!C8DB:+I6I:B:CIME:CH:H	I=6IG:FJ>G:H9>H8ADHJG:D;
I=:6BDJCIHD;EJG8=6H:HD;>CK:CIDGN	:BEADN::8DBE:CH6I>DC	9:EG:8>6I>DC	6C9>CI6C<>7A:6HH:I6BDGI>O6I>DC>C8AJ9:9>C
:68=G:A:K6CI:ME:CH:A>C:>I:BDCI=:>C8DB:HI6I:B:CI,=:HI6C96G96AHDG:FJ>G:H6FJ6A>I6I>K:9:H8G>EI>DCD;DI=:G
6BDJCIH>C8AJ9:9>C:68=G:A:K6CI:ME:CH:A>C:>I:BDCI=:>C8DB:HI6I:B:CII=6I6G:CDIH:E6G6I:AN9>H8ADH:9!C699>I>DC	
:CI>I>:H6G:G:FJ>G:9ID9>H8ADH:I=:C6IJG:6C96BDJCID;H:AA>C<:ME:CH:H,=:C:LHI6C96G9>H:;;:8I>K:;DG;>H86AN:6GH
7:<>CC>C<6;I:G:8:B7:G	
	6C9>CI:G>BE:G>D9H7:<>CC>C<6;I:G:8:B7:G	
6GAN69DEI>DC>HE:GB>II:9
/:9DCDI:ME:8II=:69DEI>DCD;I=>H688DJCI>C<HI6C96G9ID=6K:6C>BE68IDCDJGDCHDA>96I:9>C6C8>6A+I6I:B:CIH	7JI
L>AAG:FJ>G:8:GI6>C699>I>DC6A9>H8ADHJG:H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



	&*")&#"(#"
/9'--8+-':/545,+<+4;+
,=:H>;>86CIB6?DG>IND;DJGG:K:CJ:>H;GDB8DCIG68IHL>I=8JHIDB:GH,6M:H6HH:HH:97NI>:H
I=6I6G:9>G:8IAN>BEDH:9DCG:K:CJ:IG6CH68I>DCH6G::M8AJ9:9;GDBG:K:CJ:6C9:ME:CH:H!CI=:;DAADL>C<I67A:H	G:K:CJ:
>H9>H6<C:HD;8:H6C9I>B>C<D;IG6CH;:GD;8:H,=:I67A:H6AHD>C8AJ9:
6G:8DC8>A>6I>DCD;I=:9>H6<8:$>C:H
&:LK:=>8A:

	 
	

 
	
 
W  	

-H:9K:=>8A:

	
 
	 
	
 
 
	
(6GIH6C9H:GK>8:

	
 
	 
	 

 
	
>C6C8:6C9>CHJG6C8:	C:I


 

 
 
 
	

'I=:G

 
 

 
 


	
 
	  
	 
	  	
,>B>C<D;*:K:CJ:*:8DI>DC
DD9H6C9H:GK>8:HIG6CH;:GG:96I6ED>CI>CI>B:

	 
	 
	
 
  	

DD9H6C9H:GK>8:HIG6CH;:GG:9DK:GI>B:

 
 
	 
 
	

	
 
	  
	 
	  	
-3/?;232313:03?


<:3@A71
:=8:$>C:H
&:LK:=>8A:

	
 
	
 
	 
W  	
-H:9K:=>8A:

	 
	 
	 
 
	
(6GIH6C9H:GK>8:

	 
	
 
	 

 
	
>C6C8:6C9>CHJG6C8:	C:I


 

 
 

 
	
'I=:G

 
 
 
 



	 
	
  
	 
	  	
,>B>C<D;*:K:CJ:*:8DI>DC
DD9H6C9H:GK>8:HIG6CH;:GG:96I6ED>CI>CI>B:

	 
	 
	 
  	
DD9H6C9H:GK>8:HIG6CH;:GG:9DK:GI>B:



 
 
	
 

 
	


	 
	
  
	 
	  	
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


-3/?;232313:03?


<:3@A71
:=8:$>C:H
&:LK:=>8A:

	
 
	
 
	 
W  	
-H:9K:=>8A:

	
 
	 
	 

 
	
(6GIH6C9H:GK>8:

	
 
	

 
	 

 
	


>C6C8:6C9>CHJG6C8:	C:I


 
 
 
 
	
'I=:G

 
 
 
 



	 
	
  
	 
	
  	

,>B>C<D;*:K:CJ:*:8DI>DC
DD9H6C9H:GK>8:HIG6CH;:GG:96I6ED>CI>CI>B:

	 
	 
	
 

  	
DD9H6C9H:GK>8:HIG6CH;:GG:9DK:GI>B:


 
 
	
 
 
	


	 
	
  
	 
	
  	

XDGEDG6I:6C9DI=:GY>H8DBEG>H:9D;DJGCDC
;G6C8=>H:97JH>C:HH:H	>C8AJ9>C<JID&6I>DC-+JH:9K:=>8A:HIDG:H	8DAA>H>DC
8:CI:GH	E6GIH9>HIG>7JI>DC8:CI:GH	6J8I>DCDE:G6I>DCH	6C9JID&6I>DC%D7>A:+:GK>8:
*:EG:H:CIHG:K:CJ:G:8DO:99JG>C<I=:E:G>D9;DG6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H
+8,583'4)+(2/-':/549'4*/-4/,/)'4:;*-3+4:9'4*9:/3':+9+2':+*:5+<+4;++)5-4/:/54
&:L6C9-H:9.:=>8A:
/:H:AAC:LK:=>8A:H6IDJG;G6C8=>H:99:6A:GH=>EH6C9JH:9K:=>8A:H6IDJG;G6C8=>H:99:6A:GH=>EH	JID&6I>DC-+
JH:9K:=>8A:HIDG:H	6C9L=DA:H6A:6J8I>DCH,=:IG6CH68I>DCEG>8:;DG6K:=>8A:H6A:>H9:I:GB>C:9L>I=I=:8JHIDB:G6II=:
I>B:D;H6A:JHIDB:GHD;I:CIG69:>CI=:>GDLCK:=>8A:ID6EEANIDL6G9I=:EJG8=6H:D;6G:I6>AC:LDGJH:9K:=>8A:,=:
XIG69:
>CYK:=>8A:>H6INE:D;CDC86H=8DCH>9:G6I>DCB:6HJG:96I;6>GK6AJ:	76H:9DC:MI:GC6A6C9>CI:GC6AB6G@:I96I6;DG
I=:HE:8>;>8K:=>8A:	6C96EEA>:96HE6NB:CIIDI=:8DCIG68IEG>8:;DGI=:EJG8=6H:9K:=>8A:
/=:CL:H:AA6C:LDGJH:9K:=>8A:	L:INE>86AANIG6CH;:G8DCIGDA6I6ED>CI>CI>B:JEDC9:A>K:GND;I=:K:=>8A:IDI=:
8JHIDB:G	L=>8=>H<:C:G6AAN6II>B:D;H6A:	6HI=:8JHIDB:G>H67A:ID9>G:8II=:JH:D;	6C9D7I6>CHJ7HI6CI>6AAN6AAD;I=:
7:C:;>IH;GDB	I=:K:=>8A:6IHJ8=I>B:/:9DCDI9>G:8IAN;>C6C8:DJG8JHIDB:GHZK:=>8A:EJG8=6H:HDGA:6H:H/:D;;:G
>C9>G:8I;>C6C8>C<DC8:GI6>CK:=>8A:HL:H:AA	6C9>C8DB:;GDBHJ8=;>C6C8>C<>HG:;A:8I:9>CJID&6I>DC>C6C8:!C8DB:
$DHH>CDJGDCHDA>96I:9+I6I:B:CIHD;!C8DB:!CB6CN86H:H	L:6GG6C<:I=>G9
E6GIN;>C6C8>C<;DGI=:G:I6>AH6A:DG
A:6H:D;K:=>8A:HIDDJG8JHIDB:GH>C:M8=6C<:;DG6;::E6>9IDJH7NI=:I=>G9
E6GIN;>C6C8>6A>CHI>IJI>DC/:G:8:>K:
E6NB:CI9>G:8IAN;GDBI=:8JHIDB:G6II=:I>B:D;H6A:	;GDBI=:I=>G9
E6GIN;>C6C8>6A>CHI>IJI>DCG:;:GG:9ID6H8DCIG68IH
>C
IG6CH>IDGK:=>8A:G:8:>K67A:H	L=>8=6G:E6GID;DJGG:8:>K67A:H;GDB8DCIG68IHL>I=8JHIDB:GH	DG;GDBDJG86EI>K:6JID
;>C6C8:8DBE6CNL>I=>C6H=DGIE:G>D9D;I>B:;DAADL>C<I=:H6A:/::HI67A>H=EGDK>H>DCH	L=>8=6G:CDIH>;>86CI	;DG
:HI>B6I:9G:IJGCH6C9L6GG6CI>:HDCI=:76H>HD;7DI==>HIDG>86A>C;DGB6I>DC6C98JGG:CIIG:C9H
/:6AHDD;;:G6J8I>DCH:GK>8:H6IDJGJID&6I>DC
7G6C9:96JIDBDI>K:6J8I>DCH	G:K:CJ:;GDBL=>8=>H>C8AJ9:9L>I=>C
-H:9.:=>8A:L=DA:H6A:G:K:CJ:,=:IG6CH68I>DCEG>8:;DG6J8I>DCH:GK>8:H>H76H:9DC6C:HI67A>H=:9EG>8>C<H8=:9JA:6C9
9:I:GB>C:9L>I=I=:8JHIDB:G6II=:I>B:D;H6A:	6C9E6NB:CI>H9J:JEDC8DBEA:I>DCD;H:GK>8:/:H6I>H;NDJG
E:G;DGB6C8:D7A><6I>DCHG:A6I:9ID6J8I>DCH:GK>8:H6II=:ED>CI>CI>B:I=6I8DCIGDAIG6CH;:GHIDI=:8JHIDB:G	L=>8=>HL=:C
I=:H:GK>8:>H8DBEA:I:9
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


(6GIH6C9+:GK>8:
/:H:AAE6GIH6C96JIDBDI>K:H:GK>8:HG:A6I:9ID8JHIDB:G
E6>9G:E6>GH6C9B6>CI:C6C8:	G:E6>GH6C9B6>CI:C6C8:JC9:G
B6CJ;68IJG:GL6GG6CI>:H6C9:MI:C9:9H:GK>8:8DCIG68IH	6C98DAA>H>DC
G:A6I:9G:E6>GH/:6AHDH:AAE6GIHI=GDJ<=DJG
L=DA:H6A:6C9G:I6>A8DJCI:G8=6CC:AH	6HL:AA6HDJG:
8DBB:G8:L:7H>I:
68=6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:>H6H>C<6I>DCI=6I>C8AJ9:H7DI=I=:E6GIH6C9
A67DG6HHD8>6I:9L>I=I=:H:GK>8:(6NB:CI;DG6JIDBDI>K:H:GK>8:LDG@>HINE>86AAN9J:JEDC8DBEA:I>DCD;I=:H:GK>8:	
L=>8=>H<:C:G6AAN8DBEA:I:9L>I=>C6H=DGIE:G>D9D;I>B:;GDB8DCIG68I>C8:EI>DC,=:IG6CH68I>DCEG>8:;DG6JIDBDI>K:
G:E6>G6C9B6>CI:C6C8:H:GK>8:H>H76H:9DCI=:E6GIHJH:9	I=:CJB7:GD;A67DG=DJGH6EEA>:9	6C9HI6C96G9>O:9=DJGAN
A67DGG6I:H/:H6I>H;NDJGE:G;DGB6C8:D7A><6I>DCH	IG6CH;:G8DCIGDA	6C9G:8DO:G:K:CJ:DK:GI>B:;DG6JIDBDI>K:G:E6>G
6C9B6>CI:C6C8:H:GK>8:H7:86JH:L:6G:8G:6I>C<6C6HH:IL>I=CD6AI:GC6I>K:JH:6C9L:=6K:6C:C;DG8:67A:G><=IID
E6NB:CI;DGE:G;DGB6C8:8DBEA:I:9ID96I:/:JH:6C>CEJIB:I=D9IDG:8DO:G:K:CJ:6C9B:6HJG:EGDK:IDI=:IDI6AA67DG=DJGH:ME:8I:9ID7::ME:C9:9IDH6I>H;NI=:E:G;DGB6C8:D7A><6I>DC/:
=6K:9:I:GB>C:9A67DG=DJGH:ME:C9:9ID7:I=:G:A:K6CIB:6HJG:D;LDG@E:G;DGB:9ID8DBEA:I:I=:6JIDBDI>K:G:E6>GDG
B6>CI:C6C8:H:GK>8:;DGI=:8JHIDB:GH6EG68I>86A:ME:9>:CI	H>C8:6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:8DCIG68IH
=6K:6CDG><>C6A9JG6I>DCD;DC:N:6GDGA:HH	L:9DCDI8DCH>9:GI=:I>B:K6AJ:D;BDC:N	6C9L:9DCDI9>H8ADH::HI>B6I:9
G:K:CJ::ME:8I:9ID7:G:8DO:9>CI=:;JIJG:;DGE:G;DGB6C8:D7A><6I>DCHI=6I6G:JCH6I>H;>:9DGE6GI>6AANJCH6I>H;>:96I
I=::C9D;I=:G:EDGI>C<E:G>D9DGL=:CL::ME:8IIDG:8DO:HJ8=G:K:CJ:
,=:IG6CH68I>DCEG>8:;DGL=DA:H6A:6C9G:I6>A8DJCI:GE6GIHH6A:H>H9:I:GB>C:96II=:I>B:D;H6A:76H:9DCI=:FJ6CI>IN
6C9EG>8:D;:68=EGD9J8IEJG8=6H:9(6NB:CI>HINE>86AAN9J:6II>B:D;H6A:	DGL>I=>C6H=DGIE:G>D9D;I>B:;DAADL>C<I=:
H6A:/::HI67A>H=EGDK>H>DCH	L=>8=6G:CDIH>;>86CI	;DG:HI>B6I:9E6GIHG:IJGCH76H:9DC=>HIDG>86A>C;DGB6I>DC6C9
8JGG:CIIG:C9H:A>K:GNB:I=D9HD;L=DA:H6A:6C9G:I6>A8DJCI:GE6GIHK6GN=DL:K:G	L:<:C:G6AAN8DCH>9:G8DCIGDAD;
L=DA:H6A:6C9G:I6>A8DJCI:GE6GIHIDIG6CH;:GL=:CI=:EGD9J8IH6G:H=>EE:9	L=>8=INE>86AAND88JGHI=:H6B:96N6HDG
L>I=>C6;:L96NHD;I=:H6A:
>C6C8:6C9!CHJG6C8:
/:H:AA6C9G:8:>K:68DBB>HH>DCDCI=:;DAADL>C<INE:HD;;>C6C8:6C9>CHJG6C8:EGD9J8IH:MI:C9:9H:GK>8:8DCIG68IH	
B6>CI:C6C8:EGDDC@CDLC6HX(	YI=>HEGDI:8I>DC8DK:GHI=:H=DGI;6AA7:IL::C6
8JHIDB:GZHAD6C76A6C8:6C9>CHJG6C8:E6ND;;>CI=::K:CID;686HJ6AIN	XI>G:6C9L=::AYEGDI:8I>DC	6C9I=:;IEGDI:8I>DC
EGD9J8IH	6BDC<DI=:GH/:D;;:GEGD9J8IHI=6I6G:HDA96C969B>C>HI:G:97N>C9:E:C9:CII=>G9E6GI>:H	>C8AJ9>C<I=:
K:=>8A:B6CJ;68IJG:GHZ86EI>K:;>C6C8:HJ7H>9>6G>:H
(JGHJ6CIIDDJG6GG6C<:B:CIHL>I=I=:H:I=>G9
E6GINEGDK>9:GH	L:H:AAI=:EGD9J8IHDC68DBB>HH>DC76H>H	6C9	;DG
8:GI6>CEGD9J8IH	L:6AHDE6GI>8>E6I:>C;JIJG:EGD;>IEJGHJ6CIIDG:IGDHE:8I>K:8DBB>HH>DC6GG6C<:B:CIHL>I=I=:>HHJ:GHD;
I=DH:8DCIG68IHI=GDJ<=I=:A>;:D;I=:G:A6I:98DCIG68IHDGG:IGDHE:8I>K:8DBB>HH>DC6GG6C<:B:CIH	L:6G:E6>96CCJ6AAN
76H:9DCI=:6CCJ6AE:G;DGB6C8:D;I=:>HHJ:GHZEGD9J8IEDGI;DA>DDGI=:B6?DG>IND;;>C6C8:6C9>CHJG6C8:EGD9J8IH6A:H	
DJGE:G;DGB6C8:D7A><6I>DC>HID6GG6C<:;DGI=:EGDK>H>DCD;8:H7N6CDI=:GE6GIN'JGE:G;DGB6C8:
D7A><6I>DC>HH6I>H;>:9L=:CI=>H6GG6C<:B:CI>HB69:	L=>8=>HL=:CI=:;>C6C8:6C9>CHJG6C8:EGD9J8I>H9:A>K:G:9IDI=:
:C9
8JHIDB:G	<:C:G6AAN6II=:I>B:D;I=:K:=>8A:H6A:H6<:CI	L:G:8DO:G:K:CJ:>CI=:6BDJCID;6CN;::DG
8DBB>HH>DCIDL=>8=L::ME:8IID7::CI>IA:9	L=>8=>HI=:C:I6BDJCID;8DCH>9:G6I>DCI=6IL:G:I6>C6;I:GE6N>C<I=:
I=>G9
E6GINEGDK>9:GI=:8DCH>9:G6I>DCG:8:>K:9>C:M8=6C<:;DGI=:8:HID7:;JA;>AA:97NI=6IE6GIN
,=:G:IGDHE:8I>K:8DBB>HH>DCL::6GCDC:68=EGD9J8IHDA9>H6;DGBD;K6G>67A:8DCH>9:G6I>DCI=6I>HHJ7?:8IID
8DCHIG6>CI9J:ID>I7:>C<=><=ANHJH8:EI>7A:ID;68IDGHDJIH>9:DJG>C;AJ:C8:6C98DCIGDA'JG6I=I=:I=>G9
E6GIN69B>C>HIG6IDGH<:C:G6AANEGDK>9:;DG6C6CCJ6AG:IGDHE:8I>K:8DBB>HH>DCE6NDJI76H:9DCI=:EGD9J8IEDGI;DA>D
E:G;DGB6C8:;DGI=6IN:6G/::HI>B6I:K6G>67A:8DCH>9:G6I>DCG:A6I:9IDG:IGDHE:8I>K:8DBB>HH>DCH6C9E:G;DGB6
8DCHIG6>CI6C6ANH>HJH>C<I=::ME:8I:9K6AJ:B:I=D976H:9DCI=:=>HIDG>86AE:G;DGB6C8:D;I=:EGD9J8IEDGI;DA>DH6C9
8JGG:CIIG:C9HID:HI>B6I:I=:6BDJCID;G:IGDHE:8I>K:8DBB>HH>DCHIDL=>8=L::ME:8IL:L>AA7::CI>IA:9I:68=
G:EDGI>C<E:G>D9	L:G:6HH:HHDJG:ME:8I6I>DCH67DJII=:6BDJCID;G:IGDHE:8I>K:8DBB>HH>DCK6G>67A:8DCH>9:G6I>DCID
L=>8=L::ME:8IID7::CI>IA:96C9G:8DO:G:K:CJ:L=:CL:CDADC<:G7:A>:K:6H>;>86CIG:K:CJ:G:K:GH6A>HEGD767A:
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


99>I>DC6AAN	L:B6N7:8=6G<:9768@;DG8DBB>HH>DCHG:A6I:9ID;>C6C8:6C9>CHJG6C8:EGD9J8IH>CI=::K:CID;:6GAN
I:GB>C6I>DC	9:;6JAI	DGEG:E6NB:CID;I=:8DCIG68IH7N:C9
8JHIDB:GHX8=6G<:768@HYC:HI>B6I:9G:;JC9A>67>A>IN;DG
8=6G<:768@H6<6>CHII=:G:K:CJ:G:8DO:9;GDBH6A:HD;;>C6C8:6C9>CHJG6C8:EGD9J8IH>HG:8DG9:9>CI=:E:G>D9>CL=>8=
I=:G:A6I:9G:K:CJ:>HG:8DO:96C9>H76H:9EG>B6G>ANDCDJG=>HIDG>86A8=6G<:768@:ME:G>:C8:/:JE96I:DJG
B:6HJG:B:CID;I=:8=6G<:768@A>67>A>IN6I:68=G:EDGI>C<96I:;DG8=6C<:H>C:ME:8I6I>DCH67DJII=:6BDJCID;
8=6G<:768@H+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DCG:<6G9>C<8=6G<:768@
A>67>A>I>:H
/:6AHDH:AA6K:=>8A:B6>CI:C6C8:EGD8A:6G:(GDC8>E6A>CI=:
H6A:H>C8:L:=6K:I=:EG>B6GNG:HEDCH>7>A>INIDEGDK>9:I=:HE:8>;>:9H:GK>8:HIDI=:8JHIDB:GJC9:GI=:.(8DCIG68I
/=:C6.(EGD9J8I>HHDA9>C8DC?JC8I>DCL>I=I=:H6A:D;6K:=>8A:IDI=:H6B:8JHIDB:G	I=:HI6C9
6ADC:H:AA>C<EG>8:H
D;:68=EGD9J8I6G:76H:9DCD7H:GK67A:H:AA>C<EG>8:H-C9:G6.(8DCIG68I	68JHIDB:GEJG8=6H:H6HE:8>;>8CJB7:GD;
B6>CI:C6C8:H:GK>8:HID7:G:9::B:96I6CJID&6I>DCAD86I>DCDK:G6;>K:
N:6GI:GB;GDBI=:96I:D;EJG8=6H:/:H6I>H;N
DJGE:G;DGB6C8:D7A><6I>DCH6C9G:8DO:G:K:CJ:6HB6>CI:C6C8:H:GK>8:H6G:G:C9:G:9	H>C8:I=:8JHIDB:G7:C:;>IHL=:C
L:=6K:8DBEA:I:9I=:B6>CI:C6C8:H:GK>8:AI=DJ<=E6NB:CI>H9J:;GDBI=:8JHIDB:G6II=:I>B:D;H6A:6C9H:GK>8:H
6G:G:C9:G:96IED>CIH>CI>B:9JG>C<6;>K:
N:6G8DCIG68II:GB	I=:H:8DCIG68IH9DCDI8DCI6>C6H>;>86CI;>C6C8>C<
8DBEDC:CI6HI=:IG6CH;:GD;H:GK>8:H>H6II=:9>H8G:I>DCD;I=:8JHIDB:G,=:;DAADL>C<I67A:>C8AJ9:H:HI>B6I:9G:K:CJ:
:ME:8I:9ID7:G:8DO:9>CI=:;JIJG:G:A6I:9ID.(E:G;DGB6C8:D7A><6I>DCHI=6I6G:JCH6I>H;>:9DGE6GI>6AANJCH6I>H;>:9
6II=::C9D;I=:G:EDGI>C<E:G>D9
&3C3;B3E=31A32A<3&31<5;7G320F$3?7<2
(O:9DC.(8DCIG68IH
HDA96HD;E:G>D9:C9


 

 
 

/:6AHDG:8DO:G:K:CJ:	C:ID;:HI>B6I:98=6G<:768@H	;DG8DBB>HH>DCH:6GC:97NJH;DGI=:IG6CH;:GD;;>C6C8>6A
6HH:IHL=:CL:6GG6C<:>CHI6AAB:CIAD6CH6C9A:6H:HL>I=I=>G9
E6GINA:C9:GH>C8DCC:8I>DCL>I=8JHIDB:GK:=>8A:
EJG8=6H:H
'I=:G*:K:CJ:
,=:B6?DG>IND;DJGDI=:GG:K:CJ:>H<:C:G6I:9;GDBI=:H6A:D;K:=>8A:HID;A::IG:CI6A86G8DBE6C>:HI=6I6G:
HE:8>;>86AANDG9:G:9;DGHJ8=8DBE6C>:HX;A::IYH6A:H*:K:CJ:G:8DI>DC;DG;A::IH6A:H>HK:GNH>B>A6GIDI=:G:8DI>DC
D;G:K:CJ:;DGC:LK:=>8A:H	9:H8G>7:967DK:
54:8'):99+:9'4*/'(/2/:/+9
/=:CI=:I>B>C<D;DJGEGDK>H>DCD;8:H>H9>;;:G:CI;GDBI=:I>B>C<D;E6NB:CIHB69:7NDJG8JHIDB:GH	
L:G:8DO::>I=:G68DCIG68I6HH:IE:G;DGB6C8:EG:8:9:H8DCIG68IJ6A9J:96I:DG68DCIG68IA>67>A>IN8JHIDB:GE6NB:CI
EG:8:9:HE:G;DGB6C8:DCIG68I6HH:IHEG>B6G>ANG:A6I:IDDJGG><=IID8DCH>9:G6I>DC;DGLDG@>CEGD8:HHCDIN:I7>AA:96II=:
G:EDGI>C<96I:6HHD8>6I:9L>I=6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:H:GK>8:H	6HL:AA6HDJG:HI>B6I:D;K6G>67A:8DCH>9:G6I>DC
I=6I=6H7::C>C8AJ9:9>CI=:IG6CH68I>DCEG>8:;DG8:GI6>C;>C6C8:6C9>CHJG6C8:EGD9J8IHG:IGDHE:8I>K:8DBB>HH>DCH
,=:H:8DCIG68I6HH:IH6G:G:8A6HH>;>:9IDG:8:>K67A:HL=:CI=:G><=IID8DCH>9:G6I>DC7:8DB:HJC8DC9>I>DC6ADCIG68I
A>67>A>I>:HEG>B6G>ANG:A6I:IDJE;GDCIE6NB:CIHG:8:>K:9;GDB8JHIDB:GH;DGI=:H6A:D;.(8DCIG68IH
'JGG:8:>K67A:H;GDB8DCIG68IHL>I=8JHIDB:GH6G:>C8AJ9:9>C*:8:>K67A:H	C:I	DJG8JGG:CI8DCIG68I6HH:I>H>C8AJ9:9
L>I='I=:GJGG:CIHH:IH	DJGADC<
I:GB8DCIG68I6HH:I>H>C8AJ9:9L>I='I=:GHH:IH	DJG8JGG:CI8DCIG68IA>67>A>IN>H
>C8AJ9:9L>I='I=:GJGG:CI$>67>A>I>:H	6C9DJGADC<
I:GB8DCIG68IA>67>A>IN>H>C8AJ9:9L>I='I=:G$>67>A>I>:H>CDJG
DCHDA>96I:96A6C8:+=::IH
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


,=:;DAADL>C<I67A:EGDK>9:HI=:76A6C8:H6I:8:B7:GD;DJGG:8:>K67A:H;GDB8DCIG68IHL>I=8JHIDB:GH6C9DJG
8JGG:CI6C9ADC<
I:GB8DCIG68I6HH:IH6C98DCIG68IA>67>A>I>:H









*:8:>K67A:H;GDB8DCIG68IHL>I=8JHIDB:GH	C:I


 

 

DCIG68IHH:IJGG:CI


 
 

DCIG68IHH:I$DC<
,:GB

 
 

DCIG68I$>67>A>INJGG:CI

 
 

DCIG68I$>67>A>IN$DC<
,:GB

 

 

,=:8=6C<:>CI=:76A6C8:HD;DJG8DCIG68I6HH:IH6C98DCIG68IA>67>A>I>:HEG>B6G>ANG:HJAI;GDBI=:I>B>C<9>;;:G:C8:H
7:IL::CDJGE:G;DGB6C8:6C9I=:8JHIDB:GZHE6NB:CI	6HL:AA6H8=6C<:H>CI=::HI>B6I:9IG6CH68I>DCEG>8:G:A6I:9ID
K6G>67A:8DCH>9:G6I>DC;DGE:G;DGB6C8:D7A><6I>DCHH6I>H;>:9>CEG:K>DJHE:G>D9H,=:;DAADL>C<I67A:EG:H:CIHG:K:CJ:
G:8DO:99JG>C<I=:N:6G;GDB6BDJCIH>C8AJ9:9>CI=:8DCIG68IA>67>A>IN76A6C8:6II=:7:<>CC>C<D;I=:E:G>D96C9
69?JHIB:CIHIDG:K:CJ:G:A6I:9IDE:G;DGB6C8:D7A><6I>DCHH6I>H;>:9>CEG:K>DJHE:G>D9H









BDJCIH>C8AJ9:9>C8DCIG68IA>67>A>IN6II=:7:<>CC>C<D;I=:E:G>D9

 

 

(:G;DGB6C8:D7A><6I>DCHH6I>H;>:9>CEG:K>DJHE:G>D9H


 
W 

'I=:GH>;>86CI8=6C<:H>C8AJ9:8DCIG68I6HH:IHG:8A6HH>;>:9IDG:8:>K67A:HD;B>AA>DC9JG>C<
6C9
B>AA>DC>C

54:8'):59:9
DGH6A:H8DBB>HH>DCH>C8JGG:9G:A6I:9IDH6A:HD;K:=>8A:H6C9H6A:HD;;>C6C8:6C9>CHJG6C8:EGD9J8IH;DGL=>8=L:68I
6H6<:CI	L:=6K::A:8I:96H6EG68I>86A:ME:9>:CIIDCDI86E>I6A>O:I=:>C8G:B:CI6A8DHIHIDD7I6>CI=DH:8DCIG68IHH>C8:I=:N
6G:ED>CI
D;
H6A:IG6CH68I>DCH6C9I=:6BDGI>O6I>DCE:G>D9LDJA97:>BB:9>6I:
+6A:H8DBB>HH>DCH6C9I=>G9
E6GIN69B>C>HIG6IDG;::H>C8JGG:9G:A6I:9IDH6A:HD;.(EGD9J8IH6G:86E>I6A>O:9H>C8:
I=:H:E6NB:CIH6G:9>G:8IANG:A6I:9IDH6A:H68=>:K:99JG>C<6I>B:E:G>D96C9LDJA9CDI=6K:7::C>C8JGG:9>;I=:8DCIG68I
=69CDI7::CD7I6>C:9+>C8:I=:86E>I6A>O:98DHIH6G:G:A6I:9IDH:GK>8:HI=6I6G:IG6CH;:GG:99JG>C<6;>K:
N:6G8DCIG68I
I:GB	L:6BDGI>O:I=:6HH:IHDK:GI=:8DCIG68II:GBD;;>K:N:6GH8DCH>HI:CIL>I=I=:E6II:GCD;IG6CH;:GD;I=:H:GK>8:ID
L=>8=I=:6HH:IHG:A6I:/:=6986E>I6A>O:98DHIH>C8JGG:9IDD7I6>CDG;JA;>AA6.(8DCIG68IL>I=68JHIDB:GD;

B>AA>DC6HD;:8:B7:G	
	6C9
B>AA>DC6I:8:B7:G	
/:6BDGI>O:9
B>AA>DC6C9
B>AA>DCD;
I=:H:86E>I6A>O:98DHIH9JG>C<
6C9
	G:HE:8I>K:AN
	)(#"(#""""#! #''
JID&6I>DC>C6C8:X&Y	DJG86EI>K:6JID;>C6C8:8DBE6CN	EGDK>9:H>C9>G:8I;>C6C8>C<IDFJ6A>;>:9G:I6>A
8JHIDB:GHDCK:=>8A:HL:H:AA(G>DGID'8ID7:G
	&6AHDEJG8=6H:9G:I6>AK:=>8A:>CHI6AAB:CIH6A:H8DCIG68IHI=GDJ<=
I=>G9
E6GIN9:6A:GH&>C8DB:ADHH>C8AJ9:HI=:>CI:G:HI6C9;::>C8DB:<:C:G6I:97N6JIDAD6CHG:8:>K67A:A:HHI=:
>CI:G:HI:ME:CH:6HHD8>6I:9L>I=I=:9:7I>HHJ:9DGJH:9ID;JC9I=:H:G:8:>K67A:H	6EGDK>H>DC;DG:HI>B6I:98G:9>IADHH:HDC
I=:6JIDAD6CHG:8:>K67A:DG><>C6I:9DG68FJ>G:9	9>G:8I:ME:CH:H	6C9<6>CHDGADHH:HDCI=:H6A:D;6JIDAD6CHG:8:>K67A:
!CI:G:HI>C8DB:DC6JIDAD6CHG:8:>K67A:>HG:8DO:9DK:GI=:8DCIG68IJ6AI:GBD;I=:G:A6I:9AD6CH&>C8DB:ADHH
9D:HCDI>C8AJ9:6BDGI>O6I>DCD;>CI:G8DBE6CN9>H8DJCIHDG>CI:G8DBE6CN9:6A:GE6GI>8>E6I>DC;::H>G:8I8DHIH6HHD8>6I:9
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


L>I=AD6CDG><>C6I>DCH6G:86E>I6A>O:96C96BDGI>O:9JH>C<I=::;;:8I>K:>CI:G:HIB:I=D9,=:;DAADL>C<I67A:EG:H:CIHI=:
8DBEDC:CIHD;JID&6I>DC>C6C8:>C8DB:ADHH










!CI:G:HIB6G<>C
!CI:G:HI6C9;::>C8DB:

 

 


!CI:G:HI:ME:CH:

 

 

,DI6A>CI:G:HIB6G<>C

 
 

(GDK>H>DC;DG8G:9>IADHH:H

 
 


,DI6A>CI:G:HIB6G<>C6;I:GEGDK>H>DC;DGAD6CADHH:H

 
 

>G:8I:ME:CH:H

 
 

6>CDCH6A:D;6JIDAD6CHG:8:>K67A:

 
 
W
JID&6I>DC>C6C8:>C8DB:ADHH

 
 

*:;A:8IH68I>K>INI=6ID88JGG:96;I:GI=:68FJ>H>I>DCD;!>C6C8>6ADC'8ID7:G	
(GDK>H>DC;DG8G:9>IADHH:H
>C8AJ9:H>C>I>6A8G:9>IADHH:ME:CH:D;B>AA>DC6HHD8>6I:9L>I=I=:6JIDAD6CHEDGI;DA>D68FJ>G:96HE6GID;I=:
68FJ>H>I>DC
>G:8I:ME:CH:H6G:8DBEG>H:9EG>B6G>AND;8DBE:CH6I>DC:ME:CH:H6C9AD6C69B>C>HIG6I>DC8DHIH>C8JGG:97NDJG
6JID;>C6C8:8DBE6CN
JG>C<
	L:HDA9AD6CHL>I=6C6<O:98DHID;B>AA>DC	C:ID;6AADL6C8:;DG:ME:8I:98G:9>I
ADHH:HD;B>AA>DC	;DG86H=EGD8::9HD;
B>AA>DCJG>C<
	L:HDA9AD6CHL>I=6C6<O:98DHID;

B>AA>DC	C:ID;6AADL6C8:;DG:ME:8I:98G:9>IADHH:HD;B>AA>DC	;DG86H=EGD8::9HD;B>AA>DC/:G:8DG9:9
6C:IEG:
I6M<6>CDCI=:H6A:D;6JIDAD6CHG:8:>K67A:D;B>AA>DC6C9B>AA>DC9JG>C<
6C9
	G:HE:8I>K:AN
/:=6K:CD8DCI>CJ>C<>CKDAK:B:CI>CI=:HDA9AD6CH6HI=:NL:G:HDA9L>I=DJIG:8DJGH:IDJH;DGI=:>GEDHI
H6A:
E:G;DGB6C8:
/:INE>86AANJH:CDC
G:8DJGH:;JC9>C<;68>A>I>:H	>C8AJ9>C<L6G:=DJH:;68>A>I>:H6C96HH:I
768@:9I:GB;JC9>C<
IG6CH68I>DCH	6HL:AA6H;G::86H=;ADL;GDBDE:G6I>DCHID;JC9I=:6JIDAD6CHG:8:>K67A:D;&+::&DI:H6C9D;I=:
&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC67DJIDJG6JIDAD6CHG:8:>K67A:6C9G:A6I:9CDC
G:8DJGH:
9:7I	G:HE:8I>K:AN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


	&""'$&'&
6H>8:6GC>CH8DBEJI:97N9>K>9>C<C:I>C8DB:7NI=:L:><=I:96K:G6<:CJB7:GD;8DBBDC
H=6G:HDJIHI6C9>C<;DGI=:E:G>D9	>C8AJ9>C<K:HI:9*+-6L6G9H>AJI:9(+>H86A8JA6I:9JH>C<I=:IG:6HJGNHID8@B:I=D9
7N9>K>9>C<C:I>C8DB:7NI=:L:><=I:96K:G6<:CJB7:GD;H=6G:HDJIHI6C9>C<	CDI:967DK:	>C8AJ9>C<I=:9>AJI>K::;;:8ID;
JCK:HI:9*+-6L6G9H6C9HID8@DEI>DCH,=:;DAADL>C<I67A:EG:H:CIHI=:86A8JA6I>DCD;76H>86C99>AJI:9(+









&:I>C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH

 
	

  	
!C8DB:ADHH;GDB9>H8DCI>CJ:9DE:G6I>DCH	C:ID;>C8DB:I6M:H

W 

 


&:I>C8DB:

 
	
  	
6H>8L:><=I:96K:G6<:8DBBDCH=6G:HDJIHI6C9>C<


 
 

>AJI>K::;;:8ID;JCK:HI:9*+-H6C9HID8@DEI>DCH


 

 


>AJI:9L:><=I:96K:G6<:8DBBDCH=6G:HDJIHI6C9>C<


 
 

/@71$'/:CJ>C<DE:G6I>DCH


 
 

>H8DCI>CJ:9DE:G6I>DCH

W 


 



&:I>C8DB:


 
 

79BA32$'/:CJ>C<DE:G6I>DCH

 
 


>H8DCI>CJ:9DE:G6I>DCH

W 


 



&:I>C8DB:

 
 

(+6BDJCIH6G:86A8JA6I:99>H8G:I:AN6C9	I=:G:;DG:	B6NCDI699JEIDI=:IDI6A9J:IDGDJC9>C<
!C"JC:
	L::ME:G>:C8:96CDJI6<:D;DJG9:6A:GB6C6<:B:CIHNHI:BEGDK>9:97N#AD76A	L=>8=>HJH:9ID
HJEEDGIDJG9:6A:GH=>EDE:G6I>DCH	>C8AJ9>C<DJGH6A:H	H:GK>8:	>CK:CIDGN	8JHIDB:GG:A6I>DCH=>EB6C6<:B:CI	6C9
688DJCI>C<;JC8I>DCH88:HHID8DG:;JC8I>DCHD;I=>HHNHI:BL6HG:HIDG:97NI=::C9D;"JC:
	6C98:GI6>C6C8>AA6GN
HNHI:BH6C9>CI:DCHL:G:G:HIDG:97NI=::C9D;"JAN
	L>I=G:H>9J6A>BE68IHG:HDAK:97NI=::C9D;I=:I=>G9
FJ6GI:G
H6G:HJAI	DJGG:HJAIHD;DE:G6I>DCH6C9:6GC>CK:AN>BE68I:97NADHI>C8DB:;GDB
I=:9>HGJEI>DCIDDJGDE:G6I>DCH6C9DC:
I>B:8DBE:CH6I>DC8DHIHE6>9ID8DBB>HH>DC
76H:96HHD8>6I:HID:CHJG:7JH>C:HH
8DCI>CJ>IN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


	&* '"(
,=:8DBEDC:CIHD;G:8:>K67A:H	C:ID;6AADL6C8:H;DG:ME:8I:98G:9>IADHH:H	6I:8:B7:G6G:6H;DAADLH






DCIG68IH
>C
IG6CH>I6C9K:=>8A:G:8:>K67A:H


 

,G69:G:8:>K67A:H

 

%6CJ;68IJG:GG:8:>K67A:H

 


!C8DB:I6M:HG:8:>K67A:H::&DI:
W 

'I=:G

 


	
 
	

$:HH6AADL6C8:H;DG:ME:8I:98G:9>IADHH:H

 

*:8:>K67A:H	C:I

	
 
	


DCIG68IH
>C
IG6CH>I6C9K:=>8A:G:8:>K67A:HEG>B6G>ANG:EG:H:CIG:8:>K67A:H;GDB;>C6C8>6A>CHI>IJI>DCH;DGI=:EDGI>DCD;
I=:K:=>8A:H6A:HEG>8:;>C6C8:97NDJG8JHIDB:GH,G69:G:8:>K67A:HG:EG:H:CI6BDJCIH9J:;DGE6GIH6C9H:GK>8:HHDA9	
:M8AJ9>C<6BDJCIH9J:;GDBB6CJ;68IJG:GH	6HL:AA6HG:8:>K67A:H;GDB;>C6C8:DG<6C>O6I>DCH;DG8DBB>HH>DCHDCI=:H6A:
D;;>C6C8:6C9>CHJG6C8:EGD9J8IH%6CJ;68IJG:GG:8:>K67A:HG:EG:H:CI6BDJCIH9J:;GDBB6CJ;68IJG:GH;DG=DA9768@H	
G:76I:H	>C8:CI>K:H	;ADDGEA6C6HH>HI6C8:	6C9L6GG6CIN8A6>BH/::K6AJ6I:DJGG:8:>K67A:H;DG8DAA:8I67>A>IN76H:9DCE6HI
8DAA:8I>DC:ME:G>:C8:	8JGG:CI>C;DGB6I>DC	6C9G:6HDC67A:6C9HJEEDGI67A:;DG:86HIH
	)(# #"'&* 
JIDAD6CHG:8:>K67A:>C8AJ9:6BDJCIH9J:;GDB8JHIDB:GHG:A6I:9IDG:I6>AK:=>8A:H6A:H;>C6C8:9I=GDJ<=JID&6I>DC
>C6C8:	DJG86EI>K:6JID;>C6C8:8DBE6CN	6HL:AA6HG:I6>AK:=>8A:>CHI6AAB:CIH6A:H8DCIG68IH68FJ>G:9I=GDJ<=I=>G9
E6GIN
9:6A:GHEG>DGID'8ID7:G
JIDAD6CHG:8:>K67A:6G:EG:H:CI:9C:ID;6C6AADL6C8:;DG:ME:8I:98G:9>IADHH:HJID
AD6CHG:8:>K67A:G:EG:H:CI6A6G<:8=L:8DCH>9:GID7:E6GID;DC:8A6HH
D;;>C6C8>C<G:8:>K67A:6C9DC:EDGI;DA>DH:C>C<DJG6AADL6C8:;DG:ME:8I:98G:9>IADHH:H
;:55'49+)+/<'(2++:
,=:8DBEDC:CIHD;6JIDAD6CHG:8:>K67A:	C:ID;I=>G9
E6GINJC:6GC:99>H8DJCIH6C96AADL6C8:H;DG:ME:8I:98G:9>I
ADHH:H	6I:8:B7:G	6G:6H;DAADLH






,DI6A6JIDAD6CHG:8:>K67A:

	
 

88GJ:9>CI:G:HI6C9;::H
 

:;:GG:9AD6CDG><>C6I>DC8DHIH
 

$:HHJC:6GC:99>H8DJCIH

 

$:HH6AADL6C8:H;DG:ME:8I:98G:9>IADHH:H

 

JIDAD6CHG:8:>K67A:	C:I

	
 


8+*/:;'2/:?
/:JI>A>O:EGDEG>:I6GN8G:9>IH8DG>C<BD9:AHIDG6I:I=:G>H@D;9:;6JAI;DG8JHIDB:GHI=6I6EEAN;DG;>C6C8>C<7N
:K6AJ6I>C<8JHIDB:G8G:9>I=>HIDGN6C98:GI6>C8G:9>I6EEA>86I>DC>C;DGB6I>DC	>C8AJ9>C<>C;DGB6I>DCHJ8=6H>C8DB:	
8DAA6I:G6A	6C99DLCE6NB:CI,=:H8DG>C<BD9:AHN>:A98G:9>IEGD:GHI=6IG:;A:8IDJG>CI:GC6A8G:9>IG>H@G6I>CK:A>@:A>=DD9D;G:E6NB:CI,=:6HH>II>:G>C;AJ:C8:HI=:I:GBHD;I=:6G:9AD6C
ID
K6AJ:G6I>D6C9>CI:G:HIG6I:;I:GDG><>C6I>DC	8G:9>II>:G6HH>IDGI=:8G:9>IFJ6A>IND;I=:6JIDAD6CHG:8:>K67A:DC6CDCC<76H>H6C96AHDK6A>96I:I=:688JG68ND;
I=:8G:9>IH8DG>C<BD9:AHE:G>D9>86AAN$D6CE:G;DGB6C8:>HG:K>:L:9DC6G:8JGG>C<76H>HID>9:CI>;NL=:I=:GI=:6HH>II>:GH69:FJ6I:ANG:;A:8II=:8JHIDB:GHZA>@:A>=DD9D;G:E6NB:CI	6C9>;C::9:9	69?JHIB:CIH6G:B69:IDI=:H8DG>C<
BD9:AHDC6EGDHE:8I>K:76H>H
;:55'49+)+/<'(2+(?'0588+*/:85-8'3
,=:;DAADL>C<I67A:EG:H:CIH6JIDAD6CHG:8:>K67A:6HD;:8:B7:G	
6C9
	9>H6<I
EGD:G	>C9:H8:C9>C<DG9:GD;=><=:HIA>@:A>=DD9D;G:E6NB:CI
7@1/9-3/?<4#?757;/A7<;
@<4313:03?


+3756A32
C3?/53
#'1I(GD:G
(6AA69>JB

 
 
W 
W 
W 
W 
W  

*=D9>JB



 
 

 
W 
W 
W 

(A6I>CJB


 
 
 

 

 

 

DA9


 

 
 
 
 

 



+>AK:G



 
 
 
 
 

 

GDCO:



 

 

 
 

 
W 

DEE:G


W 

 
W 
 

 
W 

,DI6A6JIDAD6CHG:8:>K67A:
 
   
 

 
 

 	

JGG:CI
E:G>D9I:
D;;H

 
 
 
 
 

 


7@1/9-3/?<4#?757;/A7<;
@<4313:03?


+3756A32
C3?/53
#'1I(GD:G
*=D9>JB



 

 
W 
W 
W 
W 

(A6I>CJB


 
 
 
 
 

 

DA9


 
 
 
 
 

 


+>AK:G



 

 
 
 
 

 


GDCO:


 

 

 
 

 
W 


DEE:G



 

 
 

 

 
W 

,DI6A6JIDAD6CHG:8:>K67A:
  
 
 
 

 
  
A6HH>;>:976H:9DC8G:9>IC>I>6AAN6EEGDK:9;DG;>C6C8>C<
99IADHH:HG:EG:H:CIHI=:C:I8G:9>IADHH:H:ME:8I:9DK:GI=:G:B6>C>C<8DCIG68IJ6AA>;:D;DJG6JID
AD6CHG:8:>K67A:,=:6AADL6C8:;DG8G:9>IADHH:H>H9:I:GB>C:9JH>C<6K>CI6<:
A:K:AHI6I>HI>86ABD9:AI=6I86EIJG:HI=:
G:A6I>DCH=>E7:IL::C=>HIDG>86A8=6C<:H>C;:I>B:ADHH8JGK:H7NBDCI=DC7DD@	8G:9>II>:GH6I
DG><>C6I>DC	6C9H:6HDC6A>IN	69?JHI:9;DG:ME:8I:9G:8DK:G>:H76H:9DC=>HIDG>86AG:8DK:GNIG:C9H,=:8G:9>IADHHBD9:A
6AHD>C8DGEDG6I:HG:6HDC67A:6C9HJEEDGI67A:;DG:86HIH67DJII=:;JIJG:JI>A>O>C<6;DG:86HID;6B68GD:8DCDB>8K6G>67A:	
HE:8>;>86AAN	I=:8=6C<:>C-+9>HEDH67A:E:GHDC6A>C8DB:	L=>8=L:7:A>:K:>HBDHIHIGDCC<6C9
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


EG:9>8I>C<:ME:8I:98G:9>IADHH:HD;DJG6JIDAD6CHG:8:>K67A:/:JI>A>O:6G:6HDC67A:6C9HJEEDGI67A:;DG:86HIE:G>D9D;
DC:N:6G	6;I:GL=>8=L:>BB:9>6I:ANG:K:GIID=>HIDG>86A:ME:G>:C8:
/:E:G>D9>86AAN8DCH>9:GL=:I=:GI=:JH:D;6AI:GC6I>K:K6G>67A:HLDJA9G:HJAI>C>BEGDK:98G:9>IADHHBD9:A688JG68N
6C9G:K>H:I=:BD9:AL=:C6EEGDEG>6I:/:6AHD8DCH>9:GL=:I=:GFJ6A>I6I>K:69?JHIB:CIH6G:C:8:HH6GN;DG;68IDGHI=6I6G:
CDIG:;A:8I:9>CI=:FJ6CI>I6I>K:B:I=D9H7JI>BE68II=:B:6HJG:B:CID;:HI>B6I:98G:9>IADHH:H+J8=69?JHIB:CIH>C8AJ9:
I=::ME:8I6I>DCHD;I=:>BE68ID;G:8:CI:8DCDB>8IG:C9HDC8JHIDB:G7:=6K>DG
,=:C:IADHH:HI>B6I:>H86A8JA6I:97N6EEAN>C<I=:ADHHG6I:H9:K:ADE:9JH>C<I=:B:I=D9H9:H8G>7:967DK:IDI=:
6BDGI>O:98DHI76H>HD;I=:6JIDAD6CHG:8:>K67A:,=:8=6C<:>CI=:6AADL6C8:;DG8G:9>IADHH:H>HG:8DO:9I=GDJ<=6C
69?JHIB:CIIDI=:EGDK>H>DC;DG8G:9>IADHH:H
522,58='8*5,225='4)+,588+*/:599+9
,=:;DAADL>C<>H6GDAA;DGL6G9D;DJG6AADL6C8:;DG:ME:8I:98G:9>IADHH:H;DG6JIDAD6CHG:8:>K67A:;DGI=:N:6GH:C9:9
:8:B7:G	
6C9







6A6C8:6HD;7:<>CC>C<D;N:6G

 

(GDK>H>DC;DG8G:9>IADHH:H

 

/G>I:
D;;H


 

*:8DK:G>:H


 

+DA9AD6CH

 

6A6C8:6HD;:C9D;N:6G

 

!C8AJ9:HEGD8::9H;GDBI=:G:8DK:GND;K:=>8A:8DAA6I:G6A	C:ID;8DHIH>C8JGG:9
/:6AHD:HI>B6I::ME:8I:98G:9>IADHH:HG:A6I:9IDJC;JC9:9AD6C8DBB>IB:CIH6C9G:8DG96A>67>A>INL>I=>C'I=:G
JGG:CI$>67>A>I>:H>CDJGDCHDA>96I:96A6C8:+=::IH,=:8=6C<:>CI=:A>67>A>IN>HG:8DO:9I=GDJ<=6C69?JHIB:CIID
I=:EGDK>H>DC;DG8G:9>IADHH:HHD;:8:B7:G	
	I=:8G:9>IADHHA>67>A>INIDI6A:9B>AA>DC
$/@AB3BA< H8DCH>9:G:99:A>CFJ:CI>;D;I=:G:FJ>G:9EG>C8>E6A6C9>CI:G:HIE6NB:CIH=6K:CDI7::CG:8:>K:96HD;
I=:96I:HJ8=E6NB:CIHL:G:9J:AAAD6CH8DCI>CJ:ID688GJ:>CI:G:HIJCI>AG:E6NB:CI	LG>I:
D;;	DGL=:C6AD6CG:68=:H
96NHE6HI9J:!;E6NB:CI>HG:8:>K:96;I:G6AD6C=6HHIDEE:9688GJ>C<>CI:G:HI9J:IDG:68=>C<96NHE6HI9J:	I=:
AD6CL>AA7:9::B:98JGG:CI6C9I=:688GJ6AD;>CI:G:HIG:HJB:H/=:C6LG>I:
D;;D88JGH	688GJ:9>CI:G:HI>HLG>II:CD;;7N
G:K:GH>C<>CI:G:HI>C8DB:(6NB:CIHG:8:>K:9DCCDC688GJ6A6HH:IH6G:G:8DG9:9JH>C<68DB7>C6I>DCD;I=:8DHIG:8DK:GN
B:I=D96C9I=:86H=76H>HB:I=D99:E:C9>C<DCL=:I=:GI=:G:A6I:9AD6C=6H7::CLG>II:CD;;!C<:C:G6A	688DJCIH6G:
LG>II:CD;;DCI=:A6HI7JH>C:HH96ND;I=:BDCI=9JG>C<L=>8=I=::6GA>:HID;I=:;DAADL>C<D88JGHI=:G:8:>K67A:>H

96NHDGBDG:9:A>CFJ:CI6HD;I=:A6HI7JH>C:HH96ND;I=:BDCI=6C9I=:G:A6I:9K:=>8A:=6HCDI7::CG:EDHH:HH:9	I=:
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


K:=>8A:=6H7::CG:EDHH:HH:96C9A>FJ>96I:9	DGI=:G:A6I:9K:=>8A:=6H7::C>CG:EDHH:HH>DC>CK:CIDGN;DG6IA:6HI
96NH
,=:;DAADL>C<I67A:EG:H:CIHE6HI9J:6JIDAD6CHG:8:>K67A:	6HD;:8:B7:G	
6C9

53;/9F@7@<4$/@AB37;/;17/9
@@3A@/@<4313:03?








6NH








6NH
 

G:6I:GI=6C
6NH
 

,DI6A(6HIJ:

 

JGG:CI

	

 


,DI6A

	
 

	"*"(#&-"*  ##&$ "$- 
,=:8DBEDC:CIHD;>CK:CIDGN6I:8:B7:G6G:6H;DAADLH






&:LK:=>8A:H

	 
	
-H:9K:=>8A:H

 

(6GIH	688:HHDG>:H	6C9DI=:G

 

!CK:CIDGN

	

 
	

,=:8DBEDC:CIHD;K:=>8A:;ADDGEA6CE6N67A:6I:8:B7:G6G:6H;DAADLH






.:=>8A:;ADDGEA6CE6N67A:
IG69:

	 
	


.:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:

	 
	
.:=>8A:;ADDGEA6CE6N67A:

	
 
	
.:=>8A:;ADDGEA6CE6N67A:
IG69:G:;A:8IH6BDJCIH7DGGDL:9ID;>C6C8:I=:EJG8=6H:D;HE:8>;>8C:L6C9	ID6A:HH:G
:MI:CI	JH:9K:=>8A:>CK:CIDG>:HL>I=I=:8DGG:HEDC9>C<B6CJ;68IJG:GHZ86EI>K:;>C6C8:HJ7H>9>6G>:HXIG69:A:C9:GHY
.:=>8A:;ADDGEA6CE6N67A:
CDC
IG69:G:EG:H:CIH6BDJCIH7DGGDL:9ID;>C6C8:I=:EJG8=6H:D;HE:8>;>8C:L6C9	ID6A:HH:G
:MI:CI	JH:9K:=>8A:>CK:CIDG>:HL>I=CDC
IG69:A:C9:GH	6HL:AA6H6BDJCIH7DGGDL:9JC9:GDJGH:8JG:9JH:9K:=>8A:
;ADDGEA6C;68>A>I>:H=6C<:H>CK:=>8A:;ADDGEA6CE6N67A:
IG69:6G:G:EDGI:96HDE:G6I>C<86H=;ADLH6C98=6C<:H>CK:=>8A:
;ADDGEA6CE6N67A:
CDC
IG69:6G:G:EDGI:96H;>C6C8>C<86H=;ADLH>CI=:688DBE6CN>C<DCHDA>96I:9+I6I:B:CIHD;6H=
ADLH
'JG>CK:CIDGN8DHIH6G:<:C:G6AANG:9J8:97NB6CJ;68IJG:G=DA9768@H	>C8:CI>K:H	;ADDGEA6C6HH>HI6C8:	6C9CDC
G:>B7JGH:B:CI
76H:9B6CJ;68IJG:G69K:GI>H>C<G:76I:H	L=>A:I=:G:A6I:9K:=>8A:;ADDGEA6CE6N67A:H6G:G:;A:8I>K:D;I=:
8A:,=:K:=>8A:;ADDGEA6CE6N67A:H	6HH=DLC>CI=:67DK:I67A:	B6N6AHD7:=><=:GI=6CI=:
>CK:CIDGN8DHI9J:IDI=:I>B>C<D;I=:H6A:D;6K:=>8A:6C9E6NB:CID;I=:G:A6I:9A>67>A>IN
.:=>8A:;ADDGEA6C;68>A>I>:H6G:9J:DC9:B6C9	7JI>CI=:86H:D;C:LK:=>8A:>CK:CIDG>:H	6G:<:C:G6AANE6>9L>I=>C
H:K:G6A7JH>C:HH96NH6;I:GI=:G:A6I:9K:=>8A:H6G:HDA9.:=>8A:;ADDGEA6C;68>A>I>:H6G:EG>B6G>AN8DAA6I:G6A>O:97NK:=>8A:
>CK:CIDG>:H6C9G:A6I:9G:8:>K67A:H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


I:8:B7:G	
	DJGC:LK:=>8A:;ADDGEA6C;68>A>I>:HJI>A>O:9(G>B:
76H:96C9+'*
76H:9>CI:G:HIG6I:H'JG
C:LK:=>8A:;ADDGEA6CDJIHI6C9>C<=696L:><=I:9
6K:G6<:>CI:G:HIG6I:D;6I:8:B7:G	
	6C96I
:8:B7:G	
I:8:B7:G	
	I=:6<INJC9:GDJGC:LK:=>8A:;ADDGEA6C;68>A>I>:HID;>C6C8:DJG
C:LK:=>8A:>CK:CIDGNL6H6EEGDM>B6I:AN7>AA>DC	D;L=>8=7>AA>DC=697::C7DGGDL:9
I:8:B7:G	
	DJGJH:9K:=>8A:;ADDGEA6C;68>A>I>:HJI>A>O:9(G>B:
76H:96C9+'*
76H:9>CI:G:HIG6I:H'JG
JH:9K:=>8A:;ADDGEA6CDJIHI6C9>C<=696L:><=I:9
6K:G6<:>CI:G:HIG6I:D;6I:8:B7:G	
	6C96I
:8:B7:G	
I:8:B7:G	
	I=:6<INJC9:GDJGJH:9K:=>8A:;ADDGEA6C;68>A>I>:HID;>C6C8:6
EDGI>DCD;DJGJH:9K:=>8A:>CK:CIDGNL6H
B>AA>DC	D;L=>8=B>AA>DC=697::C7DGGDL:9,=:G:B6>C>C<
7DGGDL>C<86E68>IND;B>AA>DCL6HA>B>I:9ID
B>AA>DC76H:9DCI=::A><>7A:JH:9K:=>8A:>CK:CIDGNI=6I8DJA9
=6K:7::CEA:9<:96H8DAA6I:G6A
	$&#$&(-"%)$!"("(
HJBB6GND;EGDE:GIN6C9:FJ>EB:CI	C:I	6I:8:B7:G>H6H;DAADLH






$6C9

	 
	
J>A9>CBEGDK:B:CIH

	

 
	
JGC>IJG:	;>MIJG:H	6C9:FJ>EB:CI

	 
	

	 
	
$:HH688JBJA6I:99:EG:8>6I>DC6C96BDGI>O6I>DC

	 
	
(GDE:GIN6C9:FJ>EB:CI	C:I

	 
	
/:86E>I6A>O:9>CI:G:HI>C8DCC:8I>DCL>I=K6G>DJH8DCHIGJ8I>DCEGD?:8IHID7J>A9	JEA>I>:HD;
B>AA>DC>C
	B>AA>DC>C
	6C9B>AA>DC>C

	##+  ""(" ''('"(
DD9L>AA6C9>CI6C<>7A:6HH:IH	C:I	6I:8:B7:G8DCH>HI:9D;I=:;DAADL>C<






DD9L>AA

	 
	
G6C8=>H:G><=IH
>C9:;>C>I:
A>K:9

 

'I=:G>CI6C<>7A:6HH:IH


 



 

$:HH688JBJA6I:96BDGI>O6I>DC

 

!CI6C<>7A:6HH:IH	C:I


 

)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


55*=/22
DD9L>AA6AAD86I:9IDDJGG:EDGI>C<JC>IH6C98=6C<:H>CI=:86GGN>C<6BDJCID;AA;DGI=:N:6GH:C9:9
:8:B7:G	
6C9
	L:G:6H;DAADLH
<:3@A71
:=AA

 






	 
	
88JBJA6I:9>BE6>GB:CIADHH:H



 
W

 
W

	
 
	

 






 
	

8FJ>H>I>DCH	9>HEDH>I>DCH	6C9
DI=:G69?JHIB:CIH	C:I

 


W




 

6A6C8:6HD;:8:B7:G	

DD9L>AA

 






	 
	
88JBJA6I:9>BE6>GB:CIADHH:H



 
W

 
W

	
 
	

 






 
	
8FJ>H>I>DCH	9>HEDH>I>DCH	6C9
DI=:G69?JHIB:CIH	C:I

 
 

 
W


 

6A6C8:6HD;:8:B7:G	

DD9L>AA

 






	
 
	
88JBJA6I:9>BE6>GB:CIADHH:H



 
W

 
W

	
 
	

 






 
	

GDHHAA76A6C8:6C9688JBJA6I:9>BE6>GB:CIADHH:HG:;A:8I:9>CX'I=:GY>C8AJ9:7>AA>DC6HHD8>6I:9L>I=DJGH>CC<JC>IEG>DGID+:EI:B7:G
	

	DJGG:EDGI>C<JC>IG:EDGI>C<HIGJ8IJG:L6H8DBEG>H:9D;6H>CC<JC>IGDHH
AA76A6C8:G:;A:8I:9>CX'I=:GY6AHD>C8AJ9:H6BDJCIH6HHD8>6I:9L>I=I=:DAA>H>DC:CI:G	(6GIH:CI:G	6C9JID&6I>DC
%D7>A:+:GK>8:G:EDGI>C<JC>IH	6H6EEA>867A:>C6<>K:CE:G>D9

!C8AJ9:H6BDJCIHG:8A6HH>;>:9ID=:A9;DGH6A:6C9G:A6I:969?JHIB:CIH	L=>8=6G:EG:H:CI:9>C'I=:GJGG:CIHH:IH>CDJG
DCHDA>96I:96A6C8:+=::IH6HD;E:G>D9:C9
+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC67DJIDJGAA>BE6>GB:CII:HI
4:'4-/(2+99+:9
'JGEG>C8>E6A>9:CI>;>67A:>CI6C<>7A:6HH:IH6G:>C9>K>9J6AHIDG:G><=IHJC9:G;G6C8=>H:6I=K:=>8A:
B6CJ;68IJG:GHHD;:8:B7:G	
	L:=69B>AA>DCD;;G6C8=>H:G><=IHG:8DG9:9DCDJGDCHDA>96I:96A6C8:
+=::IH	D;L=>8=B>AA>DCL6HG:A6I:9IDDB:HI>8HIDG:H	B>AA>DCL6HG:A6I:9ID!BEDGIHIDG:H	6C9

B>AA>DCL6HG:A6I:9ID(G:B>JB$JMJGNHIDG:H
+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DC67DJIDJG;G6C8=>H:G><=IH
>BE6>GB:CII:HIH
	
 ''
+4+8'2*+9)8/6:/54
,=:H>;>86CIB6?DG>IND;A:6H:HI=6IL::CI:G>CID6G:;DGG:6A:HI6I:/:A:6H:CJB:GDJH;68>A>I>:HG:A6I>C<IDDJG
DE:G6I>DCH	>C8AJ9>C<EG>B6G>AN;DG6JIDBD7>A:H=DLGDDBH	9>HEA6NADIH	H:GK>8:;68>A>I>:H	8DAA>H>DCG:E6>G8:CI:GH	HJEEAN
;68>A>I>:H	6JIDBD7>A:HIDG6<:ADIH	E6G@>C<ADIH	D;;>8:H	6C9DJG8DGEDG6I:=:69FJ6GI:GH$:6H:H;DGG:6AEGDE:GIN<:C:G6AAN
=6K:I:GBHG6C<>C<;GDBIDN:6GH/:6AHDA:6H:K6G>DJHINE:HD;:FJ>EB:CI	>C8AJ9>C<H:8JG>IN86B:G6H	9>68
:FJ>EB:CI	8DE>:GH	@:N
8JII>C<B68=>C:H	6C9EDHI6<:B68=>C:H	6BDC<DI=:GHFJ>EB:CIA:6H:H<:C:G6AAN=6K:I:GBH
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


G6C<>C<;GDBIDN:6GH!C699>I>DC	L:A:6H:8:GI6>CK:=>8A:H;GDBK:=>8A:B6CJ;68IJG:GHIDEGDK>9:DJGH:GK>8:
8JHIDB:GHL>I=I=:JH:D;6K:=>8A:L=>A:I=:>GK:=>8A:H6G:7:>C<H:GK>8:96IDJG9:6A:GH=>EH,=:H:H:GK>8:AD6C:GK:=>8A:
A:6H:H<:C:G6AAN=6K:I:GBHG6C<>C<;GDBIDBDCI=H	6C9L:INE>86AANEJG8=6H:I=:H:GK>8:AD6C:GK:=>8A:H6II=::C9
D;I=:A:6H:
'JGA:6H:6C6CNB6I:G>6AG:H>9J6AK6AJ:6AG:HIG>8I>K:8DK:C6CIH/:9DCDI
=6K:6CNH>;>86CIA:6H:HI=6I=6K:CDIN:I8DBB:C8:97JII=6I8G:6I:H>;>86CIG><=IH6C9D7A><6I>DCH;DGJH/:=6K:
:A:8I:9I=:EG68I>86A:ME:9>:CIJC9:G+,DE>8IDCDIH:E6G6I:A:6H:6C9CDCA:6H:8DBEDC:CIH;DGI=:;DAADL>C<
8A6HH:HD;JC9:GAN>C<6HH:IHG:6A:HI6I:	D;;>8::FJ>EB:CI	H:GK>8:AD6C:GK:=>8A:H	6C9B6G@:I>C<
G:A6I:96HH:IH:<	
7>AA7D6G9H
'JGG:6A:HI6I:6C9:FJ>EB:CIA:6H:HD;I:CG:FJ>G:I=6IL:E6NB6>CI:C6C8:>C699>I>DCIDG:CI99>I>DC6AAN	DJGG:6A
:HI6I:A:6H:H<:C:G6AANG:FJ>G:E6NB:CID;G:6A:HI6I:I6M:H6C9>CHJG6C8:%6>CI:C6C8:	G:6A:HI6I:I6M:H	6C9>CHJG6C8:
E6NB:CIH6G:<:C:G6AANK6G>67A:6C976H:9DC68IJ6A8DHIH>C8JGG:97NI=:A:HHDG,=:G:;DG:	I=:H:6BDJCIH6G:CDI>C8AJ9:9
>CI=:8DCH>9:G6I>DCD;I=:8DCIG68IL=:C9:I:GB>C>C<I=:G><=I
D;
JH:X*'-Y6HH:I6C9A:6H:A>67>A>IN	7JI6G:G:;A:8I:96H
K6G>67A:A:6H::ME:CH:H;DGI=DH:8A6HH:HD;JC9:GAN>C<6HH:IH;DGL=>8=L:=6K::A:8I:9I=:EG68I>86A:ME:9>:CIIDCDI
H:E6G6I:A:6H:6C9CDCA:6H:8DBEDC:CIH
$:6H:HL>I=6C>C>I>6AI:GBD;BDCI=HDGA:HHI=6I9DCDI>C8AJ9:6EJG8=6H:DEI>DCI=6I>HG:6HDC67AN8:GI6>CID7:
:M:G8>H:96G:CDIG:8DG9:9DCI=:76A6C8:H=::IL:G:8DO:A:6H::ME:CH:;DGI=:H:A:6H:HDC6HIG6><=I
A>C:76H>HDK:GI=:
A:6H:I:GB/:G:CIDGHJ7A:6H:8:GI6>CG:6A:HI6I:IDI=>G9E6GI>:H	L=>8=6G:EG>B6G>ANDE:G6I>C<A:6H:H
!'8/'(2+2+'9+6'?3+4:9
B6?DG>IND;DJGA:6H:6C8AJ9:;>M:9G:CI6AE6NB:CIH:GI6>CD;DJGA:6H:6C8AJ9:;>M:9G:CI6A
E6NB:CIHI=6I6G:69?JHI:9E:G>D9>86AAN;DG8=6C<:H>CI=:DCHJB:G(G>8:!C9:MX(!Y(6NB:CIH76H:9DC68=6C<:>C
6C>C9:MDG6G6I:6G:CDI8DCH>9:G:9>CI=:9:I:GB>C6I>DCD;A:6H:E6NB:CIH;DGEJGEDH:HD;B:6HJG>C<I=:G:A6I:9A:6H:
A>67>A>IN/=>A:A:6H:A>67>A>I>:H6G:CDIG:B:6HJG:96H6G:HJAID;8=6C<:HIDI=:(!	8=6C<:HIDI=:(!6G:IG:6I:96H
K6G>67A:A:6H:E6NB:CIH6C9G:8DO:9>CI=:E:G>D9>CL=>8=I=:D7A><6I>DC;DGI=DH:E6NB:CIH6G:>C8JGG:9
6:/549:5+>:+4*58:+83/4':+2+'9+9
%DHID;DJGG:6A:HI6I:A:6H:H>C8AJ9:DC:DGBDG:DEI>DCHIDG:C:L	L>I=G:C:L6AI:GBHI=6I86C:MI:C9I=:A:6H:I:GB
;GDBDC:ID;>K:N:6GHDGBDG:,=::M:G8>H:D;A:6H:G:C:L6ADEI>DCH>H6IDJGHDA:9>H8G:I>DC!;>I>HG:6HDC67AN8:GI6>CI=6I
L:L>AA:M:G8>H:HJ8=DEI>DCH	I=:E:G>D9H8DK:G:97NHJ8=DEI>DCH6G:>C8AJ9:9>CI=:A:6H:I:GB6C96G:G:8DO:96HE6GI
D;DJG*'-6HH:IH6C9A:6H:A>67>A>I>:H:GI6>CA:6H:H6AHD>C8AJ9:DEI>DCHIDEJG8=6H:I=:A:6H:9EGDE:GINDG6HH:I,=:
9:EG:8>67A:A>;:D;6HH:IH6C9A:6H:=DA9>BEGDK:B:CIH6G:A>B>I:97NI=::ME:8I:9A:6H:I:GB	JCA:HHI=:G:>H6IG6CH;:GD;
I>IA:DGEJG8=6H:DEI>DCG:6HDC67AN8:GI6>CD;:M:G8>H:
/9)5;4:8':+
DGDJG>C8G:B:CI6A7DGGDL>C<G6I:	L:<:C:G6AANJH:6EDGI;DA>D6EEGD68=ID9:I:GB>C:I=:9>H8DJCIG6I:;DGA:6H:HL>I=
H>B>A6G8=6G68I:G>HI>8H/:9:I:GB>C:9>H8DJCIG6I:H76H:9DC8JGG:CIB6G@:IEG>8:HD;>CHIGJB:CIHH>B>A6GIDDJGJCH:8JG:9
7DGGDL>CI=B6IJG>I>:HI=6I6A>I=I=:G:A:K6CIA:6H:I:GB	6C9HJ8=G6I:H6G:I=:C69?JHI:9;DGDJG8G:9>IHEG:696C9
I=::;;:8IHD;;JAA8DAA6I:G6A>O6I>DC
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


,=:;DAADL>C<I67A:HEG:H:CI>C;DGB6I>DC67DJIDJG*'-6HH:IH	A:6H:A>67>A>I>:H	IDI6AA:6H:8DHIH	86H=;ADLH6G>H>C<
;GDBA:6H:IG6CH68I>DCH	6C9DI=:GHJEEA:B:CI6A>C;DGB6I>DC;DGI=:N:6GH:C9:9:8:B7:G	
6C9

 3/@3@
9/@@7471/A7<;






@@3A@
'E:G6I>C<
'E:G6I>C<A:6H:6HH:IH

 

>C6C8:
(GDE:GIN6C9:FJ>EB:CI	C:I6C9'I=:G6HH:IH

 

,DI6AG><=I
D;
JH:6HH:IH

 

 7/0797A73@
JGG:CI
'E:G6I>C<
'I=:G8JGG:CIA>67>A>I>:H

 

>C6C8:
JGG:CIB6IJG>I>:HD;ADC<
I:GB9:7I6C9.:=>8A:
;ADDGEA6CE6N67A:
IG69:

 

&DC8JGG:CI
'E:G6I>C<
&DC8JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H

 

>C6C8:
$DC<
I:GB9:7I	C:ID;8JGG:CIB6IJG>I>:H

 

,DI6AA:6H:A>67>A>I>:H


 



 3/@3(3?:/;27@1<=I:96K:G6<:G:B6>C>C<A:6H:I:GB
'E:G6I>C<
N:6GH
N:6GH
>C6C8:
N:6GH
N:6GH
/:><=I:9
6K:G6<:9>H8DJCIG6I:
'E:G6I>C<


>C6C8:



 3/@31<@A
9/@@7471/A7<;






'E:G6I>C<A:6H:8DHI
+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H

 

>C6C8:A:6H:8DHI
BDGI>O6I>DCD;*'-
6HH:IH
:EG:8>6I>DC6C96BDGI>O6I>DC

 

!CI:G:HIDCA:6H:A>67>A>I>:H
'I=:G>CI:G:HI:ME:CH:6C9ADDGEA6C>CI:G:HI
:ME:CH:


 

+=DGI
I:GBA:6H:8DHI
+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H


 

.6G>67A:A:6H:8DHI
+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H

 


+J7A:6H:>C8DB:
+:AA>C<	<:C:G6A	6C969B>C>HIG6I>K::ME:CH:H

 

&:IA:6H:8DHI

 

!C8AJ9:HA:6H:HL>I=6I:GBD;DC:BDCI=DGA:HH
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


#A63?;49;DG6BDJCIH>C8AJ9:9>CI=:B:6HJG:B:CID;A:6H:A>67>A>I>:H
'E:G6I>C<86H=;ADLH;GDBDE:G6I>C<A:6H:H


 

'E:G6I>C<86H=;ADLH;GDB;>C6C8:A:6H:H

 

>C6C8>C<86H=;ADLH;GDB;>C6C8:A:6H:H


 

+JEEA:B:CI6ACDC86H=>C;DGB6I>DCDC69?JHIB:CIHIDG><=I
D;
JH:6HH:IH	>C8AJ9>C<
G><=I
D;
JH:6HH:IHD7I6>C:9>C:M8=6C<:;DGC:L
'E:G6I>C<A:6H:A>67>A>I>:H

 

>C6C8:A:6H:A>67>A>I>:H


 

!C8AJ9:HI=:>CI:G:HI8DBEDC:CID;E6NB:CIHB69:DC;>C6C8:A:6H:H6HL:AA6HEG>C8>E6AE6NB:CIHDCK:=>8A:;ADDGEA6CE6N67A:H
L>I=IG69:A:C9:GH;DG8:GI6>CH:GK>8:AD6C:GK:=>8A:A:6H:H
!/AB?7AF<4 3/@3 7/0797A73@
#=3?/A7;5 3/@3@
7;/;13 3/@3@
1:6G:C9>C<:8:B7:G	



 




 



 



 



 

,=:G:6;I:G
 

,DI6AA:6H:E6NB:CIH
 

$:HH>CI:G:HI
 


(G:H:CIK6AJ:D;A:6H:A>67>A>I>:H



 

)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


	(
"<;*367193 <;5(3?:30A
&DC
K:=>8A:ADC<
I:GB9:7I6I:8:B7:G8DCH>HI:9D;I=:;DAADL>C<
30A3@1?7=A7<;
!/AB?7AF/A3
;A3?3@A$/F/093






+:C>DG&DI:H
&DK:B7:G	

%6N6C9&DK:B7:G

W 



+:C>DG&DI:H
'8ID7:G	

EG>A6C9'8ID7:G



 



+:C>DG&DI:H
&DK:B7:G	

%6N6C9&DK:B7:G




 




+:C>DG&DI:H
JDG&DI:H
"JC:	

"JC:6C9:8:B7:G




 




+:C>DG&DI:H
JDG&DI:H
%6G8=	

%6G8=6C9+:EI:B7:G




 




*:KDAK>C<8G:9>I;68>A>IN
"JAN	

%DCI=AN

W 
W
>C6C8:A:6H:H6C9DI=:G9:7I
.6G>DJH96I:HI=GDJ<=




 


	

 
	
$:HHJC6BDGI>O:99:7I9>H8DJCIH6C99:7I>HHJ6C8:8DHIH

 

$:HH8JGG:CIB6IJG>I>:H

 

$DC<
I:GB9:7I	C:ID;8JGG:CIB6IJG>I>:H

	 
	
I:8:B7:G	
	6<I>:HD;CDC
K:=>8A:ADC<
I:GB9:7IL:G:6H;DAADLH
1:6GC9>C<:8:B7:G





















,=:G:6;I:G

	

	


+4/58 49+);8+*5:+9'4*8+*/:-8++3+4:
!C&DK:B7:G
	L:G:E6>9I=:DJIHI6C9>C<

B>AA>DCD;+:C>DG&DI:H9J:
'JG+:C>DG&DI:H
9J:
L>AAB6IJG:DC'8ID7:G	
	6C9L:G:	I=:G:;DG:	G:8A6HH>;>:9ID8JGG:CI9JG>C<I=:;DJGI=FJ6GI:GD;

,=:>CI:G:HIG6I:HE6N67A:DCDJG+:C>DG&DI:H	+:C>DG&DI:H	6C9+:C>DG&DI:H6G:HJ7?:8IID
69?JHIB:CIJEDCI=:D88JGG:C8:D;8:GI6>C8G:9>IG6I>C<:K:CIH6HEGDK>9:9>CI=:>C9:CIJG:H;DGI=:H:H:C>DGJCH:8JG:9
CDI:H
-C9:GDJG6B:C9:96C9G:HI6I:98G:9>I6AA>DCG:KDAK>C<8G:9>I;68>A>INI=6IB6IJG:HDC
"JAN	
,=:8G:9>I6CH6C688DG9>DC;:6IJG:I=6I6AADLHJH	HJ7?:8IID8G:9>I6K6>A67>A>IN6C9
8:GI6>CDI=:G8DC9>I>DCH	ID>C8G:6H:I=:6BDJCID;I=:G:KDAK>C<8G:9>I;68>A>IN	ID<:I=:GL>I=6CN699:9I:GBAD6CH	7NJE
ID


B>AA>DC>CI=:6<CC<JC9:GDJGG:KDAK>C<8G:9>I
;68>A>IN/:=6K:6


B>AA>DCA:II:GD;8G:9>IHJ7A>B>I6HE6GID;DJGG:KDAK>C<8G:9>I;68>A>IN,=:6BDJCI6K6>A67A:ID
7:7DGGDL:9JC9:GI=:G:KDAK>C<8G:9>I;68>A>IN>HG:9J8:9DC69DAA6G
;DG
9DAA6G76H>H7NI=:8JBJA6I>K:6BDJCID;6CN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


DJIHI6C9>C<A:II:GHD;8G:9>I	L=>8=L6H
B>AA>DC6I:8:B7:G	
	A:6K>C<67DGGDL>C<86E68>INJC9:GDJG8G:9>I
6AA>DC6I:8:B7:G	

'JGG:KDAK>C<8G:9>I;68>A>INJC9:GI=:6B:C9:98G:9>I69:H;DG68DBB>IB:CI;::DCJC9G6LC6BDJCIH
G6C<>C<;GDB
ID

6C9>CI:G:HIDC7DGGDL>CIHEG:6969?JHIB:CID;

DGI=:76H:
G6I:	>C:68=86H:EAJH6C6EEA>867A:B6G<>C,=:6EEA>867A:B6G<>CG6C<:H;GDBID
;DG+'*7DGGDL>CCCI:G:HIG6I:8=6G<:9;DGDJGG:KDAK>C<8G:9>I;68>A>IN>H6;;:8I:97NDJG
A:K:G6<:G6I>D
/>I=>CI=:B:6C>C<D;*:DC+
0	*JA:

	JID&6I>DC	!C8I=:E6G:CI8DBE6CN=6HCD>C9:E:C9:CI6HH:IHDG
DE:G6I>DCH!;9>6G>:HL:G:ID7:>HHJ:9JC9:GDJG:M>HI>C<G:<>HIG6I>DCHI6I:B:CI	L::ME:8II=6IHJ8=
I>DC6A6C9?D>CI6C9H:K:G6A	6C96CNHJ7H>9>6G>:HDI=:GI=6CI=:9>6G>:H
LDJA97:B>CDG
:.+854-+83+(:
I:8:B7:G	
	L:=69;>C6C8:A:6H:H6C9DI=:G9:7ID7A><6I>DCHD;

B>AA>DC	L=>8=6G:9J:6IK6G>DJH
96I:HI=GDJ<=
+::&DI:
D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DGBDG:>C;DGB6I>DCG:A6I:9ID;>C6C8:
A:6H:D7A><6I>DCH
<::3?17/9$/=3?
/:=6K:68DBB:G8>6AE6E:GEGD8=L:B6N>HHJ:H=DGI
I:GB	JCH:8JG:98DBB:G8>6AE6E:GCDI:H
DC6EG>K6I:EA68:B:CI76H>HJEID6B6M>BJB6<C<6I6CNI>B:D;7>AA>DC,=:>CI:G:HIG6I:
;DGI=:8DBB:G8>6AE6E:GCDI:HK6G>:H76H:9DC9JG6I>DC6C9B6G@:I8DC9>I>DCH,=:B6IJG>I>:HD;I=:8DBB:G8>6AE6E:G
CDI:HB6NK6GN	7JIB6NCDI:M8::996NH;GDBI=:96I:D;>HHJ6C8:(GD8::9H;GDBI=:>HHJ6C8:D;8DBB:G8>6AE6E:G
CDI:H6G:JH:9IDG:E6N7DGGDL>CC<8G:9>I;68>A>IN	ID;>C6C8:68FJ>H>I>DCH	6C9;DGHIG6I:<>8>C>I>6I>K:H	
LDG@>C<86E>I6A	86E>I6A:ME:C9>IJG:H	H=6G:G:EJG8=6H:H	6C9DGDI=:G<:C:G6A8DGEDG6I:EJGEDH:H/:JH:I=:G:KDAK>C<
8G:9>I;68>A>INJC9:GDJG8G:9>I6FJ>9>IN768@HIDE;DG7DGGDL>C6AE6E:GEGDCDJG8G:9>IG6I>CK:AN>BE68IDJG67>A>INID>HHJ:	DGI=:>CI:G:HIG6I:H;DG	8DBB:G8>6AE6E:G
CDI:H
I:8:B7:G	
	L:=69

B>AA>DCD;8DBB:G8>6AE6E:GCDI:HDJIHI6C9>C<L>I=6L:><=I:9
6K:G6<:6CCJ6A
>CI:G:HIG6I:D;6C96L:><=I:9
6K:G6<:G:B6>C>C<I:GBD;96NHI:8:B7:G	
	L:=69

B>AA>DCD;
8DBB:G8>6AE6E:GCDI:HDJIHI6C9>C<L>I=6L:><=I:9
6K:G6<:6CCJ6A>CI:G:HIG6I:D;6C96L:><=I:9
6K:G6<:
G:B6>C>C<I:GBD;96NH
"<;&31K67A:D;DJG86EI>K:6JID;>C6C8:8DBE6CN;JC9:9I=GDJ<=68DB7>C6I>DC
D;L6G:=DJH:;68>A>I>:H	6HH:I
768@:9I:GB;JC9>C<IG6CH68I>DCH	6C9;G::86H=;ADLH;GDBDE:G6I>DCH
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


&DC
G:8DJGH:9:7IDJIHI6C9>C<6I:8:B7:G	
6C9
	8DCH>HI:9D;I=:;DAADL>C<






/6G:=DJH:;68>A>I>:H


 


,:GBH:8JG>I>O6I>DC9:7ID;8DCHDA>96I:9.!H

 



 

$:HHJC6BDGI>O:99:7I9>H8DJCIH6C99:7I>HHJ6C8:8DHIH


 

$:HH8JGG:CIB6IJG>I>:H

 

&DC
G:8DJGH:9:7I	C:ID;8JGG:CIB6IJG>I>:H

 

,=:I>B>C<D;EG>C8>E6AE6NB:CIHDCI=:CDC
G:8DJGH:9:7I>H76H:9DCI=:I>B>C<D;EG>C8>E6A8DAA:8I>DCH6C99:;6JAIH
DCI=:G:A6I:96JIDAD6CHG:8:>K67A:,=:8JGG:CIEDGI>DCD;CDC
G:8DJGH:9:7IG:EG:H:CIHI=:EDGI>DCD;I=:E6NB:CIH
G:8:>K:9;GDBI=:6JIDAD6CHG:8:>K67A:I=6I6G:9J:ID7:9>HIG>7JI:96HEG>C8>E6AE6NB:CIHDCI=:CDC
G:8DJGH:9:7I>CI=:
;DAADL>C<E:G>D9
/:G:8DO:IG6CH;:GHD;6JIDAD6CHG:8:>K67A:>CIDI=:L6G:=DJH:;68>A>I>:H6C9I:GBH:8JG>I>O6I>DCHID<:I=:G	XCDC
G:8DJGH:9:7IY6HH:8JG:97DGGDL>C8=G:HJAI>CG:8DG9>C<I=:6JIDAD6CHG:8:>K67A:6C9I=:G:A6I:9CDC
G:8DJGH:
9:7IDCDJGDCHDA>96I:96A6C8:+=::IH,=:CDC
G:8DJGH:9:7I>HHIGJ8IJG:9IDA:<6AAN>HDA6I:I=:6JIDAD6CHG:8:>K67A:	
L=>8=86CDCAN7:JH:96H8DAA6I:G6AIDH:IIA:D7A><6I>DCHD;I=:G:A6I:9CDC
G:8DJGH:9:7I,=:I:GBH:8JG>I>O6I>DCIGJHIH6C9
>CK:HIDGH6C9I=:8G:9>IDGHD;I=:L6G:=DJH:;68>A>I>:H=6K:CDG:8DJGH:IDDJG6HH:IH;DGE6NB:CID;I=:9:7I7:NDC9I=:
G:A6I:96JIDAD6CHG:8:>K67A:	I=:6BDJCIHDC9:EDH>I>CG:H:GK:688DJCIH	6C9I=:G:HIG>8I:986H=;GDB8DAA:8I>DCHDC6JID
AD6CHG:8:>K67A:
"'8+.5;9+')/2/:/+9
/:=6K:I=G::L6G:=DJH:;68>A>IN6I=8:GI6>C76C@>C<>CHI>IJI>DCHI=GDJ<=L=DAAN
DLC:9	76C@GJEI8N
G:BDI:	HE:8>6AEJGEDH::CI>I>:H	EG>B6G>ANID;>C6C8:I=:EJG8=6H:6C9DG><>C6I>DCD;6JIDAD6CHG:8:>K67A:/:;JC96JID
AD6CHG:8:>K67A:I=GDJ<=I=:H:L6G:=DJH:;68>A>I>:H	L=>8=6G:H:8JG:97NI=::A><>7A:6JIDAD6CHG:8:>K67A:EA:9<:96H
8DAA6I:G6A
/:<:C:G6AAN:CI:G>CIDL6G:=DJH:;68>A>IN686AANG:C:LI=:6A>I>:HJI>A>O:9+'*
76H:9>CI:G:HIG6I:H	6HL:AA6H>CI:G:HIG6I:H76H:9DC6
A:C9:GZH6HH:I
768@:98DBB:G8>6AE6E:G8DC9J>I'JGL6G:=DJH:;68>A>I>:H=696L:><=I:9
6K:G6<:>CI:G:HIG6I:D;6I
:8:B7:G	
	6C96I:8:B7:G	
,=:6<I>:HJC9:GDJGL6G:=DJH:;68>A>I>:H6HD;
:8:B7:G	
	L:G:6H;DAADLH
313:03?



/6G:=DJH:;68>A>I>:H
JG6I>DC





'8ID7:G	
:ME>G6I>DC




'8ID7:G	
:ME>G6I>DC



<IN




-CJH:986E68>IN


,=:G:B6>C>C<7DGGDL>C<86E68>IND;B>AA>DCL6HA>B>I:9IDB>AA>DC76H:9DCI=::A><>7A:6JIDAD6CH
G:8:>K67A:I=6I=6K:7::CEA:9<:96H8DAA6I:G6A
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


+83+);8/:/@':/549
/:=6K:I:GBH:8JG>I>O6I>DCHI=6IL:G:EJI>CEA68:IDEGDK>9:ADC<
I:GB;JC9>C<;DG8:GI6>C6JIDAD6CHG:8:>K67A:
>C>I>6AAN;JC9:9I=GDJ<=I=:L6G:=DJH:;68>A>I>:H!CI=:H:IG6CH68I>DCH	6EDDAD;6JIDAD6CHG:8:>K67A:>HHDA9ID6
76C@GJEI8N
G:BDI:	HE:8>6AEJGEDH::CI>INI=6I	>CIJGC	IG6CH;:GHI=:G:8:>K67A:HID6HE:8>6AEJGEDH:H:8JG>I>O6I>DCIGJHI
XI:GBH:8JG>I>O6I>DCIGJHIY,=:I:GBH:8JG>I>O6I>DCIGJHI>HHJ:H6HH:I
768@:9H:8JG>I>:H	H:8JG:9DGDI=:GL>H:HJEEDGI:97N
I=:IG6CH;:GG:9G:8:>K67A:H	6C9I=:EGD8::9H;GDBI=:H6A:D;I=:6HH:I
768@:9H:8JG>I>:H6G:JH:9ID;>C6C8:I=:H:8JG>I>O:9
G:8:>K67A:H
/:6G:G:FJ>G:9ID:K6AJ6I:I=:I:GBH:8JG>I>O6I>DCIGJHIH;DG8DCHDA>96I>DC/:G:I6>CI=:H:GK>8>C<G><=IH;DGI=:6JID
AD6CHG:8:>K67A:I=6IL:G:;JC9:9I=GDJ<=I=:I:GBH:8JG>I>O6I>DCH!CDJG86E68>IN6HH:GK>8:GD;I=:JC9:GAN>C<6JIDAD6CH
G:8:>K67A:	L:=6K:I=:EDL:GID9>G:8II=:68I>K>I>:HD;I=:IGJHIHI=6IBDHIH>;>86CIAN>BE68II=::8DCDB>8E:G;DGB6C8:
D;I=:IGJHIH!C699>I>DC	L:=6K:I=:D7A><6I>DCID67HDG7ADHH:HHJ7?:8IIDA>B>I6I>DCH6C9I=:G><=IHIDG:8:>K:6CN
G:IJGCHD;I=:IGJHIH	L=>8=8DJA97:H>;>86CI88DG9>CB6GN7:C:;>8>6GND;I=:IGJHIH6C96G:G:FJ>G:9
ID8DCHDA>96I:I=:B
,=:I:GBH:8JG>I>O6I>DC9:7ID;8DCHDA>96I:9.!H8DCH>HIHD;K6G>DJHCDI:HL>I=>CI:G:HIG6I:HG6C<>C<;GDBID
6C9B6IJG>IN96I:HG6C<>C<;GDBEG>A
ID%6N
,:GBH:8JG>I>O6I>DC9:7I>H:ME:8I:9ID7:8DB:9J:6C9
7:E6>9EG>DGIDI=:;>C6AA:<6AB6IJG>I>:H76H:9DC6BDGI>O6I>DCD;I=:6JIDAD6CHG:8:>K67A:EA:9<:96H8DAA6I:G6A,=:I:GB
H:8JG>I>O6I>DC6G:8:GI6>C;JC9HID7:=:A9>CG:HIG>8I:986H=688DJCIHIDEGDK>9:699>I>DC6A8DAA6I:G6A;DGI=:
7DGGDL>C:9IDB6@:E6NB:CIHDCI=:H:8JG>I>O6I>DC9:7I*:HIG>8I:986H=D;8DCHDA>96I:9.!HJC9:GI=:
K6G>DJHI:GBH:8JG>I>O6I>DC6AA>DC6HD;:8:B7:G	
	6C9B>AA>DC6HD;:8:B7:G	

	6C9>H>C8AJ9:9>C'I=:GJGG:CIHH:IH6C9'I=:GHH:IH>CDJGDCHDA>96I:96A6C8:+=::IHJIDAD6CHG:8:>K67A:
EA:9<:9IDI=:I:GBH:8JG>I>O6I>DC9:7ID;8DCHDA>96I:9.!HIDI6A:9B>AA>DC6HD;:8:B7:G	
	6C9

B>AA>DC6HD;:8:B7:G	


	&  (-
/:B6N7:8=6G<:9768@;DG8DBB>HH>DCHG:A6I:9ID;>C6C8>C<	K:=>8A:H:GK>8:	DGEGDI:8I>DCEGD9J8IH>CI=::K:CID;
:6GANI:GB>C6I>DC	9:;6JAI	DGEG:E6NB:CID;I=:8DCIG68IH7N8JHIDB:GHX8=6G<:768@HY DL:K:G	DJG:MEDHJG:IDADHH
<:C:G6AAN>HA>B>I:9IDI=:8DBB>HH>DCHI=6IL:G:8:>K:C:HI>B6I:98=6G<:768@A>67>A>IN>HG:8DG9:9>CI=:E:G>D9>C
L=>8=I=:G:A6I:9;>C6C8:6C9>CHJG6C8:G:K:CJ:>HG:8DO:9,=:;DAADL>C<>H6GDAA;DGL6G9D;DJG:HI>B6I:98=6G<:768@
A>67>A>IN;DG:68=D;I=:I=G::N:6GHEG:H:CI:9>CDJGDCHDA>96I:9>C6C8>6A+I6I:B:CIH









6A6C8:
"6CJ6GN



 

 


99(GDK>H>DCH

 

 

:9J8I=6G<:768@H

 
 

6A6C8:
:8:B7:G


 


 


	' "')&"
-C9:GDJGH:A;
>CHJG6C8:EGDCK6G>DJHA:K:AHD;6<B>IH	E:G8A6>B9:9J8I>7A:H	6C98A6>BH
=6C9A>C<:ME:CH:H6HE6GID;DJGK6G>DJH>CHJG6C8:EGDC8AJ9>C<EGDE:GIN6C986HJ6AIN	:BEADN::B:9>86A7:C:;>IH	
6JIDBD7>A:	6C9LDG@:GHZ8DBE:CH6I>DC
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


I:8:B7:G	
6C9
	8JGG:CI6C9ADC<
I:GBH:A;
>CHJG6C8:A>67>A>I>:HL:G:>C8AJ9:9>C'I=:GJGG:CI
$>67>A>I>:H6C9'I=:G$>67>A>I>:H	G:HE:8I>K:AN	>CI=:DCHDA>96I:96A6C8:+=::IH6H;DAADLH






+:A;
>CHJG6C8:
8JGG:CIEDGI>DC

 

+:A;
>CHJG6C8:
ADC<
I:GBEDGI>DC


 



,DI6AH:A;
>CHJG6C8:A>67>A>I>:H


 


	"#!(,'
,=:8DBEDC:CIHD;I=:>C8DB:I6MEGDK>H>DC;GDB8DCI>CJ>C<DE:G6I>DCH;DGI=:N:6GH:C9:9:8:B7:G6G:6H
;DAADLH









JGG:CI
:9:G6A

 
 

+I6I:

 
 

:9:G6A6C9HI6I:9:;:GG:9

 

 


=6C<:>CK6AJ6I>DC6AADL6C8:	C:I

 

 


9?JHIB:CIH6C9H:IIA:B:CIH

 

 

!C8DB:I6MEGDK>H>DC

 


 

G:8DC8>A>6I>DCD;I=:>C8DB:I6MEGDK>H>DC86A8JA6I:9JH>C<I=:HI6IJIDGN;:9:G6A>C8DB:I6MG6I:IDDJG>C8DB:I6M
EGDK>H>DC;GDB8DCI>CJ>C<DE:G6I>DCH;DGI=:N:6GH:C9:9:8:B7:G>H6H;DAADLH












!C8DB:I6MEGDK>H>DC6IHI6IJIDGNG6I:



 


 




'I=:GCDC
9:9J8I>7A::ME:CH:H	C:I



 


W 



+I6I:>C8DB:I6M:H	C:ID;;:9:G6A7:C:;>I


 


 





 


 


=6C<:>CK6AJ6I>DC6AADL6C8:	C:I



 



 


W
9?JHIB:CIH6C9H:IIA:B:CIH



 


W 



:9:G6A6C9HI6I:I6M8G:9>IH



 


 



'I=:G	C:I



 


 



!C8DB:I6MEGDK>H>DC


 



 


)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


:;:GG:9>C8DB:I6M6HH:I6C9A>67>A>IN8DBEDC:CIH6I:8:B7:G6G:6H;DAADLH






:;:GG:9>C8DB:I6M6HH:IH
!CK:CIDGN

 

*:8:>K67A:6AADL6C8:H


 


/6GG6CIN	8=6G<:768@	6C9H:A;
>CHJG6C8:A>67>A>I>:H

 

'I=:G688GJ:9A>67>A>I>:H

 


:;:GG:98DBE:CH6I>DC

 

+ID8@
76H:98DBE:CH6I>DC

 


$:6H:A>67>A>I>:H

 

$DHH86GGN;DGL6G9HW;:9:G6A6C9HI6I:

 

+D;IL6G:9:K:ADEB:CI8DHIH

 

'I=:G	C:I

 

,DI6A9:;:GG:9>C8DB:I6M6HH:IH

 

.6AJ6I>DC6AADL6C8:

 

:;:GG:9>C8DB:I6M6HH:IH	C:ID;K6AJ6I>DC6AADL6C8:

 

:;:GG:9>C8DB:I6MA>67>A>I>:H
$DC<
A>K:96HH:IH>CI6C<>7A:6HH:IH6C9EGDE:GIN

 

!CK:HIB:CIH
JCG:6A>O:96EEG:8>6I>DC

 

*><=I
D;
JH:6HH:IH


 


'I=:G	C:I


 


,DI6A9:;:GG:9>C8DB:I6MA>67>A>I>:H



 


&:I9:;:GG:9>C8DB:I6MA>67>A>I>:H

 


'JGC:I9:;:GG:9I6MA>67>A>IND;B>AA>DC6HD;:8:B7:G	
	6C9
B>AA>DC6HD;:8:B7:G	
	>H
8A6HH>;>:96H:;:GG:9!C8DB:,6M:H>CI=:688DBE6CN>C<DCHDA>96I:96A6C8:+=::IH
!C8DB:I6M:HE6N67A:>C8AJ9:9>C'I=:GJGG:CI$>67>A>I>:HIDI6A:9
B>AA>DC6I:8:B7:G	
	6C9>C8DB:
I6M:HG:8:>K67A:>C8AJ9:9>C*:8:>K67A:H	C:IIDI6A:9B>AA>DC6I:8:B7:G	

I:8:B7:G	
	L:=696B>AA>DC8;:9:G6AC:IDE:G6I>C<ADHH86GGN;DGL6G9	B>AA>DC
D;8HI6I:C:IDE:G6I>C<ADHH86GGN;DGL6G9H6C986E>I6AADHH86GGN;DGL6G9H	6C9
B>AA>DCD;HI6I:I6M8G:9>IH
,=:;:9:G6AC:IDE:G6I>C<ADHH86GGN;DGL6G96C9B>AA>DCD;HI6I:C:IDE:G6I>C<ADHH86GGN;DGL6G9H=6K:CD:ME>G6I>DC
,=:HI6I:I6M8G:9>IH6C9
B>AA>DCD;HI6I:C:IDE:G6I>C<ADHH86GGN;DGL6G9H:ME>G:;GDB
I=GDJ<=
,=:
;:9:G6A6C9HI6I:ADHH86GGN;DGL6G9H6C9HI6I:I6M8G:9>IHG:HJAI>C69:;:GG:9I6M6HH:ID;B>AA>DC
!C6HH:HH>C<I=:G:6A>O67>A>IND;9:;:GG:9I6M6HH:IH	L:8DCH>9:GL=:I=:G>I>HBDG:A>@:ANI=6CCDII=6IHDB:EDGI>DCDG
6AAD;I=:9:;:GG:9I6M6HH:IHL>AACDI7:G:6A>O:9/:EGDK>9:K6AJ6I>DC6AADL6C8:HIDD;;H:IEDGI>DCHD;9:;:GG:9I6M6HH:IH
9J:IDJC8:GI6>CINHJGGDJC9>C<I=:;JIJG:G:6A>O6I>DCD;HJ8=9:;:GG:9I6M6HH:IHI:8:B7:G	
	L:=69
B>AA>DCD;K6AJ6I>DC6AADL6C8:G:A6I:9IDHI6I:C:IDE:G6I>C<ADHH86GGN;DGL6G9H/:69?JHII=:K6AJ6I>DC6AADL6C8:>CI=:
E:G>D9B6C6<:B:CI9:I:GB>C:H>I>HBDG:A>@:ANI=6CCDII=6I9:;:GG:9I6M6HH:IHL>AADGL>AACDI7:G:6A>O:9
/:;>A:>C8DB:I6MG:IJGCH>CI=:-+;:9:G6A?JG>H9>8I>DC6C9K6G>DJHHI6I:HH6B6II:GD;8DJGH:	K6G>DJHI6M>C<
6JI=DG>I>:H	>C8AJ9>C<I=:!*+	G:IJH,=:H:6J9>IHB6N8JAB>C6I:>CEGDEDH:96HH:HHB:CIHL=>8=B6N
JAI>B6I:ANG:HJAI>CDJGDL>C<699>I>DC6AI6M:H/>I=;:L:M8:EI>DCH	L:6G:CDADC<:GHJ7?:8IID-+;:9:G6A	HI6I:	6C9
AD86A>C8DB:I6M:M6B>C6I>DCH7NI6M6JI=DG>I>:H;DGN:6GH7:;DG:

JGG:CIAN	CDI6MN:6GH6G:JC9:G:M6B>C6I>DC7N
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


I=:!*+6C9I6MN:6GH;GDB
ID
6G:JC9:G:M6B>C6I>DC7N-+HI6I:?JG>H9>8I>DCH/:7:A>:K:I=6IDJGI6M
EDH>I>DCH8DBEANL>I=6EEA>867A:I6MA6L6C9I=6IL:=6K:69:FJ6I:ANEGDK>9:9;DGI=:H:B6II:GH
G:8DC8>A>6I>DCD;I=:7:<>CC>C<6C9:C9>C<6BDJCID;JCG:8DO:9I6M7:C:;>IH>H6H;DAADLH









6A6C8:6I"6CJ6GN

 
 

99>I>DCH76H:9DCI6MEDH>I>DCHG:A6I:9IDI=:8JGG:CIN:6G
W 
W 
W
99>I>DCH;DGI6MEDH>I>DCHD;EG>DGN:6GH

 
 


*:9J8I>DCH;DGI6MEDH>I>DCHD;EG>DGN:6GH
W 
W 
W
*:9J8I>DCH;DG:ME>G6I>DCHD;HI6IJI:D;A>B>I6I>DCH

 
 

+:IIA:B:CIH
W 
W 


6A6C8:6I:8:B7:G

 
 

/:=69688JBJA6I:9>CI:G:HI6C9E:C6AI>:H6HHD8>6I:9L>I=I=:H:JCG:8DO:9I6M7:C:;>IHD;B>AA>DC6I
:8:B7:G	
	
B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	
/:699>I>DC6AAN=696
9:;:GG:9I6M6HH:ID;
B>AA>DC6I:8:B7:G	
	B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G
	
	G:A6I:9IDI=:H:76A6C8:H,=:C:ID;I=:JCG:8DO:9I6M7:C:;>IH	6HHD8>6I:9>CI:G:HI	E:C6AI>:H	6C99:;:GG:9I6M
6HH:IL6H
B>AA>DC6I:8:B7:G	
	B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	

	L=>8=>;G:HDAK:9;6KDG67AN>CL=DA:DG>CE6GILDJA9G:9J8:DJG:;;:8I>K:I6MG6I:,=:JCG:8DO:9I6M7:C:;>IH	
6HHD8>6I:9>CI:G:HI	E:C6AI>:H	6C99:;:GG:9I6M6HH:I6G:>C8AJ9:96H8DBEDC:CIHD;'I=:G$>67>A>I>:H6C9:;:GG:9!C8DB:
,6M:H>CI=:DCHDA>96I:96A6C8:+=::IH
!I>HDJGEDA>8NID688DJCI;DG>CI:G:HI6C9E:C6AI>:H6HHD8>6I:9L>I=>C8DB:I6MD7A><6I>DCH6H68DBEDC:CID;>C8DB:
I6M:ME:CH:/:G:8DO:967:C:;>ID;B>AA>DC9JG>C<
	6C:ME:CH:D;
B>AA>DC9JG>C<
	6C96C:ME:CH:
D;
B>AA>DC9JG>C<
G:A6I:9ID>CI:G:HI6C9E:C6AI>:H:68=C:ID;I6M:;;:8I6HE6GID;I=:EGDK>H>DC;DG>C8DB:I6M:H
>CI=:DCHDA>96I:9+I6I:B:CIHD;!C8DB:
/:9DCDI:ME:8I6CN>C8G:6H:DG9:8G:6H:IDDJGJCG:8DO:9I6M7:C:;>IHID=6K:6B6I:G>6A>BE68IDCDJG
8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH9JG>C<I=:IL:AK:BDCI=H7:<>CC>C<"6CJ6GN	

	'&# &'H%)(-
HJBB6GND;H=6G:HG:EJG8=6H:9JC9:GDJGHID8@G:EJG8=6H:EGDO:97NDJGD6G9D;>G:8IDGH;DAADLH









+=6G:HG:EJG8=6H:9

 
 

<8:



 
 
	

K:G6<:EJG8=6H:EG>8:E:GH=6G:


 
 


M8AJ9:HI=::M8>H:I6M688GJ6A>BEDH:9JC9:GI=:!C;A6I>DC*:9J8I>DC8ID;B>AA>DC;DG
6C9B>AA>DC;DG

HD;:8:B7:G	
	
B>AA>DCG:B6>C:96K6>A67A:JC9:GDJGHID8@G:EJG8=6H:A>B>IBDHIG:8:CIAN6JI=DG>O:9
7NDJGD6G9D;>G:8IDGH
'JGD6G9D;>G:8IDGH6JI=DG>O:9I=:G:I>G:B:CID;
B>AA>DCH=6G:HD;DJGIG:6HJGNHID8@>C&DK:B7:G
	L=>8=
6HHJB:9I=:HI6IJHD;6JI=DG>O:97JIJC>HHJ:9H=6G:H-EDCI=:G:I>G:B:CID;IG:6HJGNHID8@	>I>HDJGEDA>8NID8=6G<:I=:
:M8:HHD;I=:8DHID;I=:IG:6HJGNHID8@DK:G>IHE6GK6AJ::CI>G:ANID699>I>DC6AE6>9
>C86E>I6ACN6BDJCIH:M8::9>C<
699>I>DC6AE6>9
>C86E>I6A6G:8=6G<:9IDG:I6>C:9:6GC>CG:B:CIH=69I=::;;:8ID;G:9J8>C<IG:6HJGNHID8@6C9
>HHJ:98DBBDCHID8@	L=>8=>C8AJ9:HIG:6HJGNHID8@'JG8DBBDCHID8@	699>I>DC6AE6>9
>C86E>I6A	G:I6>C:9:6GC>CCBE68IIDH=6G:=DA9:GHZ:FJ>INDGDJIHI6C9>C<8DBBDC
HID8@
/:=6K:
B>AA>DC6JI=DG>O:9H=6G:HD;EG:;:GG:9HID8@	E6GK6AJ:

E:GH=6G:	CDC:D;L=>8=6G:>HHJ:9DG
DJIHI6C9>C<,=:D6G9D;>G:8IDGH=6HI=:6JI=DG>INID>HHJ:I=:EG:;:GG:9HID8@>CDC:DGBDG:H:G>:H6C9ID:HI67A>H=I=:
G><=IH	EG:;:G:C8:H	6C99>K>9:C9HD;HJ8=EG:;:GG:9HID8@
HJBB6GND;H=6G:HD;8DBBDCHID8@>HHJ:9>C8DCC:8I>DCL>I=I=::M:G8>H:D;HID8@DEI>DCH;DAADLH









+=6G:H>HHJ:9>C68IJ6ACJB7:GD;H=6G:H
	
	
	

(GD8::9H;GDBI=::M:G8>H:D;HID8@DEI>DCH


 
 

K:G6<::M:G8>H:EG>8:E:GH=6G:


 

 

,=:;DAADL>C<I67A:EG:H:CIH6HJBB6GND;H=6G:HD;8DBBDCHID8@>HHJ:9>C8DCC:8I>DCL>I=I=:H:IIA:B:CID;*+-H	
6HL:AA6HH=6G:HHJGG:C9:G:9IDJID&6I>DCIDH6I>H;NI6ML>I==DA9>C<D7A><6I>DCH>C8DCC:8I>DCL>I=I=:H:IIA:B:CID;
*+-H
;/1AB/9;B:03?<4@6/?3@









+=6G:H>HHJ:9


 

 


+=6G:HHJGG:C9:G:9IDJID&6I>DCIDH6I>H;NI6M
L>I==DA9>C<D7A><6I>DCH


 

 


	'(#'#!$"'(#"
,=:JID&6I>DC	!C8
BEADN::FJ>IN6C9!C8:CI>K:(A6CI=:X
(A6CYEGDK>9:H;DGI=:8I:9HID8@	HID8@DEI>DCH	HID8@6EEG:8>6I>DCG><=IH	6C9DI=:GHID8@
76H:96C986H=
76H:96L6G9HID:BEADN::H
B6M>BJBD;B>AA>DCH=6G:HB6N7:>HHJ:9JC9:GI=:
(A6C
,=:JID&6I>DC	!C8
&DC
BEADN::>G:8IDGFJ>IN(A6CI=:X
>G:8IDG(A6CYEGDK>9:9;DGI=:DCH	G:HIG>8I:9HID8@	*+-H	HID8@6EEG:8>6I>DCG><=IH	6C9DI=:GHID8@
76H:96L6G9HIDDJGCDC
:BEADN::
9>G:8IDGH'C:7GJ6GN	
	DJGD6G9D;>G:8IDGH	JEDCI=:G:8DBB:C96I>DCD;>IHDBE:CH6I>DCDBB>II::	
6EEGDK:9I=:JID&6I>DC	!C8
&DC
BEADN::>G:8IDGFJ>IN(A6CI=:X
>G:8IDG(A6CY	L=>8=L6H6EEGDK:9
7NDJGHID8@=DA9:GH6IDJGCCJ6AB::I>C<D;+ID8@=DA9:GH=:A9DCEG>A	
,=:
>G:8IDG(A6CG:EA68:9I=:

>G:8IDG(A6C	L=>8=I:GB>C6I:9DC%6N	
HD;:8:B7:G	
	I=:B6M>BJBCJB7:GD;H=6G:H
6JI=DG>O:9;DG>HHJ6C8:JC9:GI=:
>G:8IDG(A6CL6H

	



+9:8/):+*:5)1 4/:9
'C"6CJ6GN	
	:68=D;DJGCDC
:BEADN::9>G:8IDGHG:8:>K:96G:8IDG(A6C
*+-HG:8IDGH6G:;JAANK:HI:9DCI=:CH=6G:HD;I=:DBE6CNZH
8DBBDCHID8@DCI=:;>GHIIG69>C<96ND;:7GJ6GN>CI=:I=>G9N:6G;DAADL>C<I=:G:8IDG:A:8IHID9:;:G9:A>K:GN>C688DG96C8:L>I=I=:I:GBHD;I=:6L6G96C9I=:
>G:8IDG(A6C+:IIA:B:CID;I=:
*+-HL>AA7:688:A:G6I:9>C8:GI6>C8>G8JBHI6C8:H6HEGDK>9:9>CI=:I:GBHD;I=:6L6G96C9I=:
>G:8IDG(A6C	
>C8AJ9>C<>CI=::K:CII=:CDC
:BEADN::9>G:8IDG8:6H:HIDH:GK:6H6CDC
:BEADN::9>G:8IDGD;I=:DBE6CN
DBE:CH6I>DC8DHI>HG:8DO:9DCI=:H76H:9DCI=:8ADH>C<EG>8:D;DJG8DBBDCHID8@DCI=:DCDBB>II::6EEGDK:9I=:AA>DC*+-H>C8AJ9>C<I>B:
76H:9*+-H	E:G;DGB6C8:
76H:9*+-H	6C9B6G@:I
76H:9*+-H/:688DJCI;DG;DG;:>IJG:HD;HID8@
76H:96L6G9H6HI=:N
D88JG
,>B:
76H:9*+-HK:HI>C:FJ6A>CHI6AAB:CIH<:C:G6AANDK:GI=G::DG;DJGN:6GH,=:;6>GK6AJ:D;:68=I>B:
76H:9*+-
>H76H:9DCI=:8ADH>C<EG>8:D;DJG8DBBDCHID8@DCI=:96I:D;DC8DHI;DGI>B:
76H:9*+-H>H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


G:8DO:9DC6HIG6><=I
A>C:76H>HDK:GI=:H=DGI:GD;I=:HI6I:9K:HI>C<E:G>D9DGI=:E:G>D9JCI>A:BEADN::H7:8DB:
G:I>G:B:CI
:A><>7A:
(:G;DGB6C8:
76H:9*+-H8A>;;K:HI6;I:GI=G::N:6GHHJ7?:8IIDI=:68=>:K:B:CID;8:GI6>CE:G;DGB6C8:D9(:G;DGB6C8:
76H:9*+-HDGID
>C8AJ9:6B:6HJG:D;:6GC>CCK:HI:986E>I6A	6C96B:6HJG:D;DJGE:G;DGB6C8:G:A6I>K:ID8:GI6>C8JHIDB:GH6I>H;68I>DC>C9>8:H(:G;DGB6C8:
76H:9
*+-HC
6C9
>C8AJ9:6B:6HJG:D;G:IJGCDC>CK:HI:986E>I6A,=:;6>GK6AJ:D;:68=E:G;DGB6C8:
76H:9
*+->H76H:9DCI=:8ADH>C<EG>8:D;DJG8DBBDCHID8@DCI=:96I:D;DC8DHI;DGE:G;DGB6C8:
76H:9
*+-H>H76H:9DCI=::ME:8I:968=>:K:B:CIA:K:AD;I=:E:G;DGB6C8:8=>H:K6AJ6I:9DK:GI=:E:G;DGB6C8:
E:G>D9	6C9G:8DO:9DC6HIG6><=I
A>C:76H>HDK:GI=:H=DGI:GD;I=:HI6I:9K:HI>C<E:G>D9DGI=:E:G>D9JCI>A:BEADN::H
7:8DB:G:I>G:B:CI
:A><>7A:
:<>CC>C<>C
	L:;;K:HI6;I:GI=G::N:6GHHJ7?:8IID6B:6HJG:D;IDI6A
H=6G:=DA9:GG:IJGCDK:G6I=G::
N:6GE:G>D9G:A6I>K:IDI=:H=6G:=DA9:GG:IJGC;DG6EG:9:;>C:9:H,=:;6>G
K6AJ:D;:68=B6G@:I
76H:9*+->H76H:9DC6%DCI:6GADH>BJA6I>DCBD9:ADCI=:96I:D;C<I=:;DAADL>C<
6HHJBEI>DCH






*>H@
;G::>CI:G:HIG6I:



ME:8I:9KDA6I>A>IN



>K>9:C9N>:A9
W
W
DBE:CH6I>DC8DHI;DGB6G@:I
76H:9*+-H>HG:8DO:9DC6HIG6><=I
A>C:76H>HDK:GI=:H=DGI:GD;I=:HI6I:9K:HI>C<
E:G>D9DGI=:E:G>D9JCI>A:BEADN::H7:8DB:G:I>G:B:CI
:A><>7A:	G:<6G9A:HHD;L=:I=:GI=:B6G@:I8DC9>I>DC>HH6I>H;>:9
,=:;DAADL>C<I67A:HJBB6G>O:H>C;DGB6I>DC67DJIK:HI:96C9CDCK:HI:9*+-H;DG

&')@
'6/?3@
+3756A32C3?/53
?/;A/A3
/7?*/9B3
&DCK:HI:96I"6CJ6GN

 


G6CI:9

 

.:HI:9

 

DG;:>I:9

 

&DCK:HI:96I:8:B7:G

 


,=:L:><=I:96K:G6<:GK6AJ:D;*+-H6C9IDI6A;6>GK6AJ:D;*+-HK:HI:96G:HJBB6G>O:9>CI=:
;DAADL>C<I67A:









/:><=I:96K:G6<:GK6AJ:D;*+-HGK6AJ:D;*+-HK:HI:9>CB>AA>DCH

 

 

,=:;DAADL>C<I67A:HJBB6G>O:HI=:IDI6AHID8@
76H:98DBE:CH6I>DC:ME:CH:G:A6I:9ID*+-HG:8DO:9>C+:AA>C<	
:C:G6A	6C99B>C>HIG6I>K:ME:CH:H>CI=:DCHDA>96I:9+I6I:B:CIHD;!C8DB:6C9I=:IDI6AG:8DO:9I6M7:C:;>I
G:A6I:9I=:G:ID









+ID8@
76H:98DBE:CH6I>DC:ME:CH:

 
 

,6M7:C:;>IG:A6I:9IDHID8@
76H:98DBE:CH6I>DC:ME:CH:

 
 


)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


,6M7:C:;>IHG:A6I:9IDK:HI>C<D;*+-H6C9HID8@DEI>DCH:M:G8>H:9L:G:B>AA>DC>C
	
B>AA>DC>C
	
6C9B>AA>DC>C

HD;:8:B7:G	
	I=:G:L6HB>AA>DCD;IDI6AJCG:8DO:98DBE:CH6I>DC8DHIG:A6I:9IDCDC
K:HI:9*+-H	
L=>8=>H:ME:8I:9ID7:G:8DO:9DK:G6L:><=I:96K:G6<:E:G>D9D;N:6GH
:5)16:/549
(G>DGID
	L:;>:9HID8@DEI>DCHL>I=6I:GBD;
N:6GH;GDBI=:96I:D;C:FJ6A
>CHI6AAB:CIHDK:G;DJGN:6GHAAHID8@DEI>DCHL:G:;JAANK:HI:96HD;:8:B7:G	

,=:>CIG>CH>8K6AJ:D;HID8@
DEI>DCH:M:G8>H:9L6H
B>AA>DC9JG>C<
	B>AA>DC9JG>C<
	6C9
B>AA>DC9JG>C<

HD;:8:B7:G	
	L:=69	
HID8@DEI>DCHDJIHI6C9>C<L>I=6L:><=I:96K:G6<::M:G8>H:EG>8:D;
6C9L:><=I:96K:G6<:8DCIG68IJ6AI:GBD;
N:6GH
	%)'(#"'"*'(()&'
JG>C<
	L:9>9CDIEJG8=6H:6CNHIDG:HJG>C<
	L:68FJ>G:9*:E6>G+B>I=	6BD7>A:HDAJI>DC;DG6JIDBDI>K:
G:E6>G6C9B6>CI:C6C8:	L=>8=L:G:C6B:9JID&6I>DC%D7>A:+:GK>8:	6C9L:6AHDEJG8=6H:9DC:DB:HI>8HIDG:	;>K:
!BEDGIHIDG:H	6C9DC:(G:B>JB$JMJGNHIDG:JG>C<
	L:68FJ>G:9!>C6C8>6A	6C6JID;>C6C8:8DBE6CN	L=>8=
L:G:C6B:9JID&6I>DC>C6C8:	6C9L:6AHDEJG8=6H:9I=G::DB:HI>8HIDG:H6C9DC:!BEDGIHIDG:8FJ>H>I>DCH6G:
>C8AJ9:9>CI=:DCHDA>96I:9>C6C8>6A+I6I:B:CIH;GDBI=:96I:D;68FJ>H>I>DC
,=:68FJ>H>I>DCH8DBEA:I:9>C
6C9
L:G:CDIB6I:G>6AIDDJG;>C6C8>6A8DC9>I>DCDGG:HJAIHD;DE:G6I>DCH
99>I>DC6AAN	DC6EGD;DGB676H>H6H>;I=:G:HJAIHD;I=:H:68FJ>H>I>DCH=697::C>C8AJ9:9>CDJG8DCHDA>96I:9G:HJAIH;DG
I=:G:HE:8I>K:;JAAN:6GH:C9:9:8:B7:G	
6C9
	G:K:CJ:6C9C:I>C8DB:LDJA9CDI=6K:7::CB6I:G>6AAN
9>;;:G:CI;GDBDJGG:EDGI:9G:K:CJ:6C9C:I>C8DB:;DGI=:H:E:G>D9H
JG>C<
	L:9>K:HI:9H:K:CDB:HI>8HIDG:H6C9DC:!BEDGIHIDG:;DG6<AA>DC6C9
G:8DO:9C:I<6>CHD;B>AA>DCG:A6I:9IDI=:H:9>K:HI>IJG:HJG>C<
	L:9>K:HI:9DC:DB:HI>8HIDG:;DG
6<AA>DC6C9G:8DO:96C:I<6>CD;B>AA>DCG:A6I:9IDI=>H9>K:HI>IJG:JG>C<
	L:
9>K:HI:9I=G::(G:B>JB$JMJGNHIDG:H;DG6<AA>DC6C9G:8DO:9C:I<6>CHD;
B>AA>DC
G:A6I:9IDI=:H:9>K:HI>IJG:H,=:H:<6>CH6G:>C8AJ9:9>C'I=:G!C8DB:	&:IL>I=>C'E:G6I>C<!C8DB:>CDJGDCHDA>96I:9
+I6I:B:CIHD;!C8DB:,=:;>C6C8>6A8DC9>I>DC6C9G:HJAIHD;DE:G6I>DCHD;I=:H:7JH>C:HH:HL:G:CDIB6I:G>6AIDDJG
8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH
	' #+"#&!(#"
'9.'9.7;/<'2+4:9'4*+9:8/):+*'9.
,=:IDI6A6BDJCIHEG:H:CI:9DCDJGHI6I:B:CIHD;86H=;ADLH>C8AJ9:86H=	86H=:FJ>K6A:CIH	6C9G:HIG>8I:986H=
*:HIG>8I:986H=>C8AJ9:H699>I>DC6A8DAA6I:G6A;DGCDC
G:8DJGH:9:7I7DGGDL>CDCHDC6JIDAD6CHG:8:>K67A:I=6I
6G:9J:ID7:9>HIG>7JI:9IDCDC
G:8DJGH:9:7I=DA9:GH>CI=:;DAADL>C<E:G>D9,=:;DAADL>C<I67A:EGDK>9:H6G:8DC8>A>6I>DC
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


D;86H=6C986H=:FJ>K6A:CIHG:EDGI:9DCDJGDCHDA>96I:96A6C8:+=::IHIDI=:IDI6A6BDJCIHG:EDGI:9DCDJG
DCHDA>96I:9+I6I:B:CIHD;6H=ADLH
-3/?@;232313:03?






6H=6C986H=:FJ>K6A:CIH

 


*:HIG>8I:986H=>C8AJ9:9>C'I=:GJGG:CIHH:IH

 

*:HIG>8I:986H=>C8AJ9:9>C'I=:GHH:IH
 

,DI6A86H=	86H=:FJ>K6A:CIH	6C9G:HIG>8I:986H=


 


54'9.4<+9:/4-'4*/4'4)/4-):/EB:CID;B>AA>DC6I:8:B7:G	
	B>AA>DC6I
:8:B7:G	
	6C9
B>AA>DC6I:8:B7:G	

4:+8+9:'4*4)53+'>+9'/*
/:B69:>CI:G:HIE6NB:CIH	C:ID;6BDJCIH86E>I6A>O:96C9>C8AJ9>C<>CI:G:HIDCK:=>8A:>CK:CIDGN;>C6C8>C<	D;

B>AA>DC>C
	
B>AA>DC>C
	6C9B>AA>DC>C
/:B69:>C8DB:I6ME6NB:CIH	C:ID;>C8DB:I6M
G:;JC9H	D;B>AA>DC>C
	

B>AA>DC>C
	6C9B>AA>DC>C

	"" "'(&)!"('"&* )!')&!"('
,=:;6>GK6AJ:D;6;>C6C8>6A>CHIGJB:CIG:EG:H:CIHI=:6BDJCI6IL=>8=I=:>CHIGJB:CI8DJA97::M8=6C<:9>C68JGG:CI
IG6CH68I>DC7:IL::CL>AA>C<E6GI>:H	DI=:GI=6C>C6;DG8:9H6A:DGA>FJ>96I>DC6>GK6AJ::HI>B6I:H6G:B69:6I6HE:8>;>8
ED>CI>CI>B:	76H:9DCG:A:K6CIB6G@:I>C;DGB6I>DC67DJII=:;>C6C8>6A>CHIGJB:CI,=:H::HI>B6I:H6G:HJ7?:8I>K:>CC6IJG:
6C9>CKDAK:JC8:GI6>CI>:H6C9B6II:GHD;?J9C:9L>I=EG:8>H>DC
88DJCI>C<HI6C96G9H9:;>C:;6>GK6AJ:6HI=:EG>8:I=6ILDJA97:G:8:>K:9;GDBH:AA>C<6C6HH:IDGE6>9IDIG6CH;:G6
A>67>A>IN>CI=:EG>C8>E6ADGBDHI69K6CI6<:DJHB6G@:I;DGI=:6HH:IDGA>67>A>IN>C6CDG9:GANIG6CH68I>DC7:IL::CB6G@:I
E6GI>8>E6CIH6II=:B:6HJG:B:CI96I:88DJCI>C<HI6C96G9H:HI67A>H=6;6>GK6AJ:=>:G6G8=NL=>8=G:FJ>G:H6C:CI>INID
B6M>B>O:I=:JH:D;D7H:GK67A:>CEJIH6C9B>C>B>O:I=:JH:D;JCD7H:GK67A:>CEJIHL=:CB:6HJG>C<;6>GK6AJ:6C96AHD
:HI67A>H=:HI=:;DAADL>C<I=G::A:K:AHD;>CEJIHI=6IB6N7:JH:9IDB:6HJG:;6>GK6AJ:
$:K:A
)JDI:9EG>8:HJC69?JHI:9>C68I>K:B6G@:IH;DG>9:CI>86A6HH:IHDGA>67>A>I>:HI=6I6
G:EDGI>C<:CI>IN86C688:HH6II=:B:6HJG:B:CI96I:
$:K:A
!CEJIHDI=:GI=6CFJDI:9EG>8:H>C68I>K:B6G@:IH;DG>9:CI>86A6HH:IH6C9A>67>A>I>:HI=6I
6G:D7H:GK67A::>I=:G9>G:8IANDG>C9>G:8IAN
$:K:A
-CD7H:GK67A:>CEJIH
,=:;DAADL>C<B:I=D9H6C96HHJBEI>DCHL:G:JH:97NJH>C:HI>B6I>C<;6>GK6AJ:9>H8ADHJG:H;DG;>C6C8>6A>CHIGJB:CIH
Q
/$* /$!-1%2(!*0/.!!%2(!/+0$!.1..!*0//!0/2!$%(!"(++.,(*,5(!+1*0/,5(!+0$!.
1..!*0(%%(%0%!/+))!.%(,,!.3.!$+1/!.! %0"%(%0%!/* 2.%(!.0! !0,=:6BDJCIHG:EDGI:9>C
I=:688DBE6CN>C<DCHDA>96I:96A6C8:+=::IH6EEGDM>B6I:;6>GK6AJ:9J:IDI=:>GH=DGI
I:GBC6IJG:DGI=:
:M>HI:C8:D;K6G>67A:>CI:G:HIG6I:HI=6I6EEGDM>B6I:EG:K6>A>C<B6G@:IG6I:H
Q

10+(+*/.!!%2(!*!0JIDAD6CHG:8:>K67A:6G:EG:H:CI:9C:ID;6C6AADL6C8:;DG:ME:8I:98G:9>IADHH:H	
L=>8=L:7:A>:K:6EEGDM>B6I:H;6>GK6AJ:
7
*2!/0)!*0/%*-1%05!1.%0%!/'JG:FJ>IN>CK:HIB:CIHL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:H6G:B:6HJG:96I;6>G
K6AJ:JH>C<$:K:A>CEJIH,=:;6>GK6AJ:D;DJG:FJ>IN>CK:HIB:CIHL>I=G:69>AN9:I:GB>C67A:;6>GK6AJ:HIDI6A:9


B>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I:8:B7:G	

)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



'JG:FJ>IN>CK:HIB:CIHI=6I9DCDI=6K:6G:69>AN9:I:GB>C67A:;6>GK6AJ:6G:B:6HJG:9JH>C<I=:B:6HJG:B:CI
6AI:GC6I>K:6HE:GB>II:97N688DJCI>C<HI6C96G9H6C9L:G:G:8DG9:96I8DHI	ID7:HJ7H:FJ:CIAN69?JHI:9;DG
D7H:GK67A:EG>8:8=6C<:HJG>C<
	L:>9:CI>;>:96CD7H:GK67A:IG6CH68I>DC;DGI=:>HHJ6C8:D;H>B>A6G:FJ>IN
H:8JG>I>:HD;I=:H6B:>HHJ:GD;DC:D;DJG:FJ>IN>CK:HIB:CIH6C9G:8DG9:969DLCL6G969?JHIB:CIIDI=>H:FJ>IN
>CK:HIB:CID;B>AA>DC76H:9DCI=:D7H:GK67A:EG>8:8=6C<:,=:86GGN>C<6BDJCID;DJG:FJ>IN>CK:HIB:CIH
L>I=DJI6G:69>AN9:I:GB>C67A:;6>GK6AJ:L6HB>AA>DC6I:8:B7:G	
	6C9B>AA>DC6I
:8:B7:G	
FJ>IN>CK:HIB:CIHI=6I9DCDI=6K:6G:69>AN9:I:GB>C67A:;6>GK6AJ:G:;A:8I8JBJA6I>K:
9DLCL6G969?JHIB:CIHD;B>AA>DC6C98JBJA6I>K:JEL6G969?JHIB:CIHD;B>AA>DC76H:9DCD7H:GK67A:
EG>8:8=6C<:H/:9>9CDIG:8DG96CNJEL6G969?JHIB:CIH9JG>C<I=:N:6G:C9:9:8:B7:G	

!CK:HIB:CIH>C:FJ>INH:8JG>I>:H6G:G:EDGI:9>C'I=:GJGG:CIHH:IH6C9'I=:GHH:IH>CI=:688DBE6CN>C<
DCHDA>96I:96A6C8:+=::IH*:6A>O:96C9JCG:6A>O:9<6>CH6C9ADHH:H6G:G:EDGI:9>C'I=:G!C8DB:$DHH	&:I
CDC
DE:G6I>C<>CI=:DCHDA>96I:9+I6I:B:CIHD;!C8DB:6C9>CI=:XDGEDG6I:6C9DI=:GY86I:C;DGB6I>DC
,=:;DAADL>C<>HI=:EDGI>DCD;JCG:6A>O:9<6>CHG:8DO:99JG>C<I=:N:6GH:C9:9:8:B7:G	
6C9
	
G:A6I:9ID:FJ>INH:8JG>I>:HHI>AA=:A96I:8:B7:G






&:I<6>CHADHH:HG:8DO:99JG>C<I=:E:G>D9DC:FJ>IN
H:8JG>I>:H


 

$:HH&:I<6>CHG:8DO:99JG>C<I=:E:G>D9DC:FJ>IN
H:8JG>I>:HHDA99JG>C<I=:E:G>D9
W 
W
-CG:6A>O:9<6>CHADHH:HG:8DO:99JG>C<I=:G:EDGI>C<
E:G>D9DC:FJ>INH:8JG>I>:HHI>AA=:A96II=:G:EDGI>C<96I: 

 

Q
%4! .0!(+*#0!.) !0'JG;>M:9G6I:ADC<
I:GB9:7I8DCH>HIHEG>B6G>AND;6BDJCIHDJIHI6C9>C<JC9:GDJG
H:C>DGJCH:8JG:9CDI:H/::HI>B6I:I=:;6>GK6AJ:D;DJGH:C>DGJCH:8JG:9CDI:HJH>C<FJDI:9EG>8:H;DGI=:
>9:CI>86AA>67>A>IN$:K:AHJBB6GND;I=:6<C<K6AJ:H6C9;6>GK6AJ:HD;DJGH:C>DGJCH:8JG:9
CDI:H6I:8:B7:G>H6H;DAADLH






6GGN>C<K6AJ:

	 
	
6>GK6AJ:

	 
	
&DC;>C6C8>6A6HH:IHHJ8=6HAA	DI=:G>CI6C<>7A:6HH:IH	6C9ADC<
A>K:96HH:IH=:A96C9JH:9	6G:B:6HJG:96I;6>G
K6AJ:L=:CI=:G:>H6C>C9>86IDGD;>BE6>GB:CI6C9G:8DG9:96I;6>GK6AJ:DCANL=:C>BE6>GB:CI>HG:8DO:9DG;DG6
7JH>C:HH8DB7>C6I>DC,=:;6>GK6AJ:HA:HH8DHIHIDH:AAD;ADC<
A>K:96HH:IHDG9>HEDH6AC<E:G>D9I=:NG:B6>C8A6HH>;>:96H=:A9;DGH6A:+J7H:FJ:CI8=6C<:H>CI=:=:A9;DGH6A:ADC<
A>K:96HH:IZHDG
9>HEDH6AGK6AJ:A:HH8DHIIDH:AA>C8G:6H:DG9:8G:6H:6G:G:EDGI:96H6C69?JHIB:CIID>IH86GGN>C<6BDJCI	
:M8:EII=6II=:69?JHI:986GGN>C<6BDJCI86CCDI:M8::9I=:86GGN>C<6BDJCID;I=:ADC<
A>K:96HH:IDG9>HEDH6AB:>IL6H>C>I>6AAN8A6HH>;>:96H=:A9;DGH6A:
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



,=:;DAADL>C<I67A:EG:H:CIH6HH:IHB:6HJG:96C9G:8DG9:96I;6>GK6AJ:DC6CDCG:8JGG>C<76H>H9JG>C<I=:N:6GH:C9:9
:8:B7:G	
6C9

3@1?7=A7<;
/7?*/9B3
!3/@B?3:3;A@)@7;5
'75;7471/;A
);<0@3?C/093;=BA@
 3C39
/7;
 <@@
/7?*/9B3
!3/@B?3:3;A@)@7;5
'75;7471/;A
);<0@3?C/093;=BA@
 3C39
/7;
 <@@
FJ>IN>CK:HIB:CIH

 
 
W 
W
G6C8=>H:G><=IH6C9DI=:G>CI6C<>7A:6HH:IH

W 
 
W 

$DC<
A>K:96HH:IH=:A96C9JH:9

W 
 
W 







55*=/22
DD9L>AA;DGDJGG:EDGI>C<JC>IH6C9DJG>C9:;>C>I:
A>K:9>CI6C<>7A:6HH:IH6G:I:HI:9;DG>BE6>GB:CI6CCJ6AAN6HD;EG>A

DGBDG:;G:FJ:CIANL=:C:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I>BE6>GB:CIB6N:M>HI-C9:G688DJCI>C<
HI6C96G9H	L:8=DH:IDE:G;DGBFJ6CI>I6I>K:I:HIH;DGDJG6CCJ6AAA>BE6>GB:CII:HI>C<6HD;EG>A
	
	6C9CD
>BE6>GB:CI8=6G<:HG:HJAI:9;GDBI=:H:FJ6CI>I6I>K:I:HIH
,=:FJ6CI>I6I>K:AA>BE6>GB:CII:HIG:FJ>G:H69:I:GB>C6I>DCD;L=:I=:GI=:;6>GK6AJ:D;6G:EDGI>C<JC>I>HA:HH
I=6C>IH86GGN>C<K6AJ:/::HI>B6I:I=:;6>GK6AJ:D;DJGG:EDGI>C<JC>IHJH>C<6CX>C8DB:YK6AJ6I>DC6EEGD68=	L=>8=
9>H8DJCIHEGD?:8I:9;G::86H=;ADLHD;I=:G:EDGI>C<JC>I6I68DBEJI:9L:><=I:96K:G6<:8DHID;86E>I6A6HI=:9>H8DJCIG6I:
,=:>C8DB:K6AJ6I>DC6EEGD68=G:FJ>G:HI=:JH:D;H>;>86CI:HI>B6I:H6C96HHJBEI>DCH	L=>8=>C8AJ9:I=:G:K:CJ:
C<B6G<>CHJH:9ID86A8JA6I:EGD?:8I:9;JIJG:86H=;ADLH	L:><=I:96K:G6<:8DHIHD;86E>I6A	
6C9;JIJG::8DCDB>86C9B6G@:I8DC9>I>DCH!C8DCC:8I>DCL>I=I=>HEGD8:HH	L:6AHDG:8DC8>A:I=::HI>B6I:96<G
K6AJ:HD;DJGG:EDGI>C<JC>IHIDDJGB6G@:I86E>I6A>O6I>DC	>C8AJ9>C<8DCH>9:G6I>DCD;68DCIGDAEG:B>JBI=6IG:EG:H:CIHI=:
:HI>B6I:96BDJCI6C>CK:HIDGLDJA9E6N;DGDJG:FJ>INH:8JG>I>:HIDD7I6>C68DCIGDAA>C<>CI:G:HI/:7:A>:K:I=6II=>H
G:8DC8>A>6I>DCEGD8:HH>H8DCH>HI:CIL>I=6B6G@:IE6GI>8>E6CIE:GHE:8I>K:/:76H:DJG86H=;ADL;DG:86HIHDCDJG
@CDLA:9<:D;I=:6JIDBDI>K:>C9JHIGN	DJGG:8:CIE:G;DGB6C8:	DJG:ME:8I6I>DCHD;DJG;JIJG:E:G;DGB6C8:	6C9DI=:G
6HHJBEI>DCHL:7:A>:K:ID7:G:6HDC67A:7JII=6I6G:JCEG:9>8I67A:6C9>C=:G:CIANJC8:GI6>C8IJ6A;JIJG:G:HJAIHB6N
9>;;:G;GDBI=DH::HI>B6I:H/:6AHDB6@:8:GI6>C?J9DCH>C6AAD86I>C<H=6G:96HH:IH6C9A>67>A>I>:HID
9:I:GB>C:I=:86GGN>C<K6AJ:H;DG:68=D;DJGG:EDGI>C<JC>IH
/:8=DH:IDB6@:6FJ6A>I6I>K::K6AJ6I>DC67DJII=:A>@:A>=DD9D;AA>BE6>GB:CI6HD;EG>A
	
	6C9
9:I:GB>C:9I=6I>IL6HCDIBDG:A>@:ANI=6CCDII=6II=:;6>GK6AJ:HD;DJGG:EDGI>C<JC>IHL:G:A:HHI=6CI=:>G86GGN>C<
6BDJCIH
:.+84:'4-/(2+99+:9
'JGEG>C8>E6A>9:CI>;>67A:>CI6C<>7A:6HH:IH6G:>C9>K>9J6AHIDG:G><=IHJC9:G;G6C8=>H:6I=K:=>8A:
B6CJ;68IJG:GH	L=>8==6K:>C9:;>C>I:A>K:H6C96G:I:HI:9;DG>BE6>GB:CI6CCJ6AAN6HD;EG>A
DGBDG:;G:FJ:CIANL=:C
:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I>BE6>GB:CIB6N=6K:D88JGG:9/::A:8I:9IDE:G;DGBFJ6CI>I6I>K:
;G6C8=>H:G><=IH>BE6>GB:CII:HIH;DGDJG6CCJ6A>BE6>GB:CII:HIH6HD;EG>A
	
6C9
	6C9CD>BE6>GB:CI8=6G<:H
G:HJAI:9;GDBI=:H:FJ6CI>I6I>K:I:HIH
,=:FJ6CI>I6I>K:>BE6>GB:CII:HI;DG;G6C8=>H:G><=IHG:FJ>G:HI=:8DBE6G>HDCD;I=:;G6C8=>H:G><=IHZ:HI>B6I:9;6>G
K6AJ:ID86GGN>C<K6AJ:7NHIDG:6>GK6AJ:HD;G><=IHJC9:G;G6C8=>H:6B6I:9JH>C<$:K:A>CEJIH7N
9>H8DJCI>C<:ME:8I:9;JIJG:86H=;ADLHD;I=:HIDG:,=:;DG:86HI:986H=;ADLH8DCI6>C>C=:G:CIJC8:GI6>CI>:H	>C8AJ9>C<
H>;>86CI:HI>B6I:H6C96HHJBEI>DCHG:A6I:9IDCH	LDG@>C<86E>I6AG:FJ>G:B:CIH	86E>I6A:ME:C9>IJG:H	
6C98DHID;86E>I6A	;DGL=>8=L:JI>A>O:8:GI6>CB6G@:IE6GI>8>E6CI
76H:96HHJBEI>DCH	JH>C<I=>G9
E6GIN>C9JHIGN
EGD?:8I>DCH	:8DCDB>8EGD?:8I>DCH	6C9DI=:GB6G@:IEA68:96I6L:7:A>:K:ID7:G:6HDC67A:8IJ6A;JIJG:G:HJAIHB6N9>;;:G
;GDBI=DH::HI>B6I:H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



JG>C<I=:;DJGI=FJ6GI:GD;
	L:8DC8AJ9:9I=6I6IG><<:G>C<:K:CI=69D88JGG:9I=6I>C9>86I:9I=:;6>GK6AJ:HD;
;G6C8=>H:G><=IH;DGDC:DB:HI>8HIDG:6C9DC:!BEDGIHIDG:B6N=6K:7::CA:HHI=6CI=:>G86GGN>C<K6AJ:H,=:G:;DG:	L:
E:G;DGB:9FJ6CI>I6I>K:;G6C8=>H:G><=IH>BE6>GB:CII:HIH;DGI=:H:HIDG:H9JG>C<I=:;DJGI=FJ6GI:GD;
H6G:HJAID;
I=:FJ6CI>I6I>K:I:HIH	L:9:I:GB>C:9I=:;G6C8=>H:G><=IH86GGN>C<K6AJ:H;DG7DI=HIDG:H:M8::9:9I=:>G;6>GK6AJ:H	6C9L:
G:8DG9:9CDC
86H=;G6C8=>H:G><=IH>BE6>GB:CI8=6G<:HD;B>AA>DC9JG>C<I=:;DJGI=FJ6GI:GD;
IDG:9J8:I=:
86GGN>C<K6AJ:D;I=:HIDG:HZ;G6C8=>H:6G:HI>B6I:9;6>GK6AJ:H,=:9:8A>C:>CI=:;6>GK6AJ:D;G><=IHJC9:G
I=:H:HIDG:HZ;G6C8=>H:6K:ID:ME:8I6I>DCHD;I=:H:HIDG:HH>C8:DJG
68FJ>H>I>DCD;I=:B	6HL:AA6HDJG:ME:8I6I>DCH;DGI=:HIDG:HZ;JIJG:EGDHE:8IH,=:H:;68IDGHG:HJAI:9>C6G:9J8I>DC>C
;DG:86HI:986H=;ADLH6C9B6I:;6>GK6AJ:,=:CDC
86H=>BE6>GB:CI8=6G<:H6G:G:8DG9:96H
G6C8=>H:*><=IH!BE6>GB:CIH>CI=:688DBE6CN>C<DCHDA>96I:9+I6I:B:CIHD;!C8DB:6C9>CI=:XDGEDG6I:6C9DI=:GY
86I:C;DGB6I>DC
54-/<+*99+:9'4*/-.:5, 9+99+:9
6>GK6AJ:B:6HJG:B:CIH;DGDJGADC<
A>K:96HH:IH6C9G><=I
D;
JH:6HH:IH6G:76H:9DC$:K:A>CEJIH=6C<:H>C;6>G
K6AJ:B:6HJG:B:CIH6G:G:K>:L:96C96HH:HH:9:68=FJ6GI:G;DGEGDE:GI>:H8A6HH>;>:96H=:A9;DGH6A:	DGL=:C6C>C9>86IDG
D;>BE6>GB:CI:M>HIH;DGEGDE:GI>:H8A6HH>;>:96H=:A96C9JH:9DG;DGG><=I
D;
JH:6HH:IH,=:K6AJ6I>DCEGD8:HH>H<:C:G6AAN
76H:9DC68DB7>C6I>DCD;I=:B6G@:I6C9G:EA68:B:CI8DHI6EEGD68=:H!C8:GI6>C86H:H	;6>GK6AJ:B:6HJG:B:CIH6G:76H:9
DCE:C9>C<6DCEG>8:H;DG8DBE6G67A:EGDE:GI>:HI=6I=6K:G:8:CIAN7::CHDA9,=:H:
IG6CH68I>DCEG>8:H6G:69?JHI:9;DG;68IDGHG:A6I:9ID6HE:8>;>8EGDE:GIN/::K6AJ6I:8=6C<:H>CAD86AG:6A:HI6I:B6G@:IH	
6C9DGG:8:CIB6G@:I>CI:G:HIDGC:6I>DCHG:A6I:9ID6HE:8>;>8EGDE:GIN!C6G:EA68:B:CI8DHI6EEGD68=	I=:8DHIID
G:EA68:6HE:8>;>8ADC<
A>K:96HH:I>H8DCH>9:G:9	L=>8=>H69?JHI:9;DG9:EG:8>6I>DC;GDBE=NH>86A9:I:G>DG6I>DC	6HL:AA6H
;JC8I>DC6A6C9:8DCDB>8D7HDA:H8:C8:	>;EG:H:CI6C9B:6HJG67A:
,DK6A>96I:I=:;6>GK6AJ:H9:I:GB>C:9JC9:GI=:K6AJ6I>DCEGD8:HHCDI:967DK:	L:6AHDD7I6>C>C9:E:C9:CII=>G9
E6GIN
6EEG6>H6AH;DGDJGEGDE:GI>:H6C9DGI=>G9
E6GIN7GD@:GHZDE>C>DCHD;K6AJ:	L=>8=6G:<:C:G6AAN9:K:ADE:9JH>C<I=:H6B:
K6AJ6I>DC6EEGD68=:H9:H8G>7:967DK:	6C9L::K6AJ6I:6CNG:8:CIC:6I>DCHDG9>H8JHH>DCHL>I=I=>G9
E6GING:6A:HI6I:
7GD@:GHG:A6I:9ID6HE:8>;>8ADC<
A>K:96HH:IDGB6G@:I
/:G:8DG9:9CDC
86H=>BE6>GB:CI8=6G<:HG:A6I:9IDADC<
A>K:96HH:IH=:A96C9JH:9D;B>AA>DC>C
6C9
B>AA>DC>C
,=:CDC
86H=>BE6>GB:CI8=6G<:HG:A6I:9IDADC<
A>K:96HH:IH=:A96C9JH:96G:>C8AJ9:9>C'I=:G!C8DB:	
&:I>CDJGDCHDA>96I:9+I6I:B:CIHD;!C8DB:6C96G:G:EDGI:9>CI=:XDGEDG6I:6C9DI=:GY86I:C;DGB6I>DC
/:=696HH:IH=:A9;DGH6A:D;B>AA>DC6HD;:8:B7:G	
6C9B>AA>DC6HD;:8:B7:G	
	
EG>B6G>ANG:A6I:9ID>CK:CIDGN	;G6C8=>H:G><=IH	AA	6C9EGDE:GIND;9>HEDH6AC8AJ9:9>C'I=:GJGG:CIHH:IH>CDJGDCHDA>96I:96A6C8:+=::IH
;'4:/:':/<+4,583':/54'(5;:+<+2
'/8!'2;++'9;8+3+4:9
3@1?7=A7<;
/7?*/9B3/A
313:03?



*/9B/A7<;(316;7>B3
);<0@3?C/093;=BA
&/;53C3?/53
G6C8=>H:G><=IH

W
>H8DJCI:986H=;ADL
/:><=I:96K:G6<:8DHID;86E>I6A



>H8DJCIG6I:



$DC<
I:GBG:K:CJ:C


DCIG>7JIDGN6HH:I8=6G<:H



)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32




	#!!(!"('"#"(""'
+-'285)++*/4-9
/:6G:>CKDAK:9	6C9L>AA8DCI>CJ:ID7:>CKDAK:9	>CCJB:GDJHA:<6AEGD8::9>CH>C<DJID;I=:8DC9J8ID;DJG
7JH>C:HH	>C8AJ9>C<A>I><6I>DCL>I=8JHIDB:GH	I=>G9
E6GIN9:6A:GH	L6<:6C9=DJG6C9DI=:G:BEADNB:CI
G:A6I:9A6LHJ>IH	
6C968I>DCH7GDJ<=I7NI>:H+DB:D;I=:H:A6LHJ>IHEJGEDGIDGB6N7:9:I:GB>C:9ID7:8A6HHDG
8DAA:8I>K:68I>DCH6C9H::@HJ7HI6CI>6A96B6<:HDG>C?JC8I>K:G:A>:;	DG7DI=	6C9HDB:B6NG:B6>CJCG:HDAK:9;DGH:K:G6A
N:6GH/::HI67A>H=688GJ6AH;DGHE:8>;>8A:<6AEGD8::9>CI>H8DCH>9:G:9EGD767A:I=6I6ADHH=6H7::C>C8JGG:96C9
I=:6BDJCID;I=:ADHH86C7:G:6HDC67AN:HI>B6I:9'JG688GJ6AH;DGADHH8DCI>C<:C8>:H6G:G:K>:L:9FJ6GI:GAN6C969?JHI:9
6H699>I>DC6A>C;DGB6I>DC7:8DB:H6K6>A67A:/:9>H8ADH:I=:6BDJCI688GJ:9>;B6I:G>6ADG>;HJ8=9>H8ADHJG:>HC:8:HH6GN
;DGDJG;>C6C8>6AHI6I:B:CIHIDCDI7:B>HA:69>C<!;6ADHH>HCDI7DI=EGD767A:6C9G:6HDC67AN:HI>B67A:	DG>;6C:MEDHJG:
IDADHH:M>HIH>C:M8:HHD;I=:6BDJCI688GJ:9	L:6HH:HHL=:I=:GI=:G:>H6IA:6HI6G:6HDC67A:EDHH>7>A>INI=6I6ADHH	DG
699>I>DC6AADHH	B6N=6K:7::C>C8JGG:9!;I=:G:>H6G:6HDC67A:EDHH>7>A>INI=6I6ADHH	DG699>I>DC6AADHH	B6N=6K:7::C
>C8JGG:9	L:9>H8ADH:I=::HI>B6I:D;I=:EDHH>7A:ADHHDGG6C<:D;ADHH>;>I>HB6I:G>6ADG6HI6I:B:CII=6IHJ8=6C:HI>B6I:
86CCDI7:B69:'JG:K6AJ6I>DCD;L=:I=:G6ADHH>HG:6HDC67ANEDHH>7A:DGEGD767A:>H76H:9DCDJG6HH:HHB:CI6C9
8DCHJAI6I>DCL>I=A:<6A8DJCH:AG:<6G9>C<I=:JAI>B6I:DJI8DB:D;I=:B6II:G
HD;:8:B7:G	
6C9
	L:=6K:688GJ:9;DGI=:EDI:CI>6A>BE68ID;ADHH8DCI>C<:C8>:HI=6I6G:EGD767A:
6C9G:6HDC67AN:HI>B67A:	6C9I=:G:L6HCD>C9>86I>DCD;6G:6HDC67A:EDHH>7>A>INI=6I6B6I:G>6AADHH	DG699>I>DC6AB6I:G>6A
ADHH	B6N=6K:7::C>C8JGG:9/:9DCDI7:A>:K:I=6II=:JAI>B6I:G:HDAJI>DCD;6CND;I=:H:B6II:GHL>AA=6K:6B6I:G>6A
69K:GH::;;:8IDCDJGG:HJAIHD;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	DG86H=;ADLH DL:K:G	I=:G:HJAIHD;I=:H:B6II:GH86CCDI
7:EG:9>8I:9L>I=8:GI6>CIN	6C96CJC;6KDG67A:G:HDAJI>DCD;DC:DGBDG:D;I=:H:B6II:GH8DJA9=6K:6B6I:G>6A69K:GH:
:;;:8IDCDJGG:HJAIHD;DE:G6I>DCH	;>C6C8>6A8DC9>I>DC	DG86H=;ADLH
:.+8'::+89
JID&6I>DC	68I>C<I=GDJ<=>IHHJ7H>9>6G>:H	>HI=:A:HH::JC9:GB6CNG:6A:HI6I:A:6H:HI=6IEGDK>9:;DGI=:JH:7NDJG
HJ7H>9>6G>:HD;I=:>GG:HE:8I>K:9:6A:GH=>EEG:B>H:H(JGHJ6CIIDI=:H:A:6H:H	L:6C9:BC>;NI=:A:HHDG6C9DI=:G
G:A6I:9E6GI>:H;GDB8:GI6>CA>67>A>I>:H6G>H>C<6H6G:HJAID;I=:JH:D;I=:A:6H:9EG:B>H:H	>C8AJ9>C<:CK>GDCB:CI6A
A>67>A>I>:H	DG67G:68=D;I=:A:6H:7NI=:A:HH::99>I>DC6AAN	;GDBI>B:IDI>B:	L::CI:G>CID6I=I=>G9E6GI>:H
>C8DCC:8I>DCL>I=I=:H6A:D;6HH:IHDG7JH>C:HH:H>CL=>8=L:6C9:BC>;NI=:EJG8=6H:GDGG:A6I:9E6GI>:H;GDB
8:GI6>CA>67>A>I>:HDG8DHIH6G>H>C<>C8DCC:8I>DCL>I=I=:6HH:IHDG7JH>C:HHAHD	>CI=:DG9>C6GN8DJGH:D;7JH>C:HH>C
8DCC:8I>DCL>I=EJG8=6H:HDGH6A:HD;8:H	L::CI:G>CID6C>C9:BC>;>86I>DC
EGDK>H>DCH!CI=::K:CII=6I6C>C9:BC>;>86I>DC8A6>B>H6HH:GI:9	DJGA>67>A>INLDJA97:A>B>I:97NI=:I:GBHD;I=:
6EEA>867A:6B:IDI>B:	EG>B6G>AN>C8DCC:8I>DCL>I=9>HEDH>I>DCHD;6JIDBDI>K:HIDG:H	L:6HH>CI:G:HIH>C6CNG:6AEGDE:GINA:6H:H6HHD8>6I:9L>I=HJ8=HIDG:H!C<:C:G6A	L:G:I6>CG:HEDCH>7>A>IN;DGI=:
E:G;DGB6C8:D;8:GI6>CD7A><6I>DCHJC9:GHJ8=A:6H:HIDI=::MI:CII=6II=:6HH>HG:FJ>G:9EG>DGIDDG;DAADL>C<I=:6HH>C<D;I=:A:6H:99>I>DC6AAN	L:<:C:G6AAN
G:B6>CHJ7?:8IIDI=:I:GBHD;6CNC8DCC:8I>DCL>I=HJ8=A:6H:H/:<:C:G6AAN=6K:
>C9:BC>;>86I>DCG><=IH6<6>CHII=:6HH>CI=::K:CID;CDC
E:G;DGB6C8:JC9:GI=:H:A:6H:H	6HL:AA6H
8:GI6>C9:;:CH:H/:EG:H:CIAN=6K:CDG:6HDCID7:A>:K:I=6IL:L>AA7:86AA:9DCIDE:G;DGBJC9:G6CNHJ8=G:B6>C>C<
6HH>B6I:I=6IA:HH::G:CI6AE6NB:CID7A><6I>DCH9JG>C<I=:G:B6>C>C<I:GBHD;I=:H:A:6H:H
L>I=:ME>G6I>DCHG6C<>C<;GDB
ID
6G:6EEGDM>B6I:ANB>AA>DC6I:8:B7:G	
,=:G:86C7:CD6HHJG6C8:
I=6I6CNE:G;DGB6C8:G:FJ>G:9D;JHJC9:GI=:H:A:6H:HLDJA9CDI=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	;>C6C8>6A
8DC9>I>DC	6C986H=;ADLH
I:8:B7:G	
	HJG:IN7DC9H	A:II:GHD;8G:9>I	6C986H=9:EDH>IHIDI6A:9B>AA>DC	D;L=>8=
B>AA>DC
L:G:A:II:GHD;8G:9>I!CI=:DG9>C6GN8DJGH:D;7JH>C:HH	L:6G:G:FJ>G:9IDEDHIE:G;DGB6C8:6C9HJG:IN7DC9H	A:II:GHD;
8G:9>I	6C9DG86H=9:EDH>IH6H;>C6C8>6A9:86H=8DAA6I:G6A;DG
DJIHI6C9>C<A:II:GHD;8G:9>I
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



!CI=:DG9>C6GN8DJGH:D;7JH>C:HH	L:6G:HJ7?:8IIDCJB:GDJHA6LH6C9G:DCH	>C8AJ9>C<6JIDBDI>K:	
:CK>GDCB:CI6A	=:6AI=6C9H6;:IN	6C9DI=:GA6LH6C9G:DCH/:9DCDI6CI>8>E6I:I=6II=:8DHIHD;HJ8=8DBEA>6C8:
L>AA=6K:6B6I:G>6A69K:GH::;;:8IDCDJG7JH>C:HH	G:HJAIHD;DE:G6I>DCH	86H=;ADLH	DG;>C6C8>6A8DC9>I>DC	6AI=DJ<=HJ8=
DJI8DB:>HEDHH>7A:<>K:CI=:C6IJG:D;DJGDE:G6I>DCH6C9I=::MI:CH>K:A:<6A6C9G:867A:IDDJG
7JH>C:HH/:9DCDI=6K:6CNB6I:G>6A@CDLC:CK>GDCB:CI6A8DBB>IB:CIHDG8DCI>C<:C8>:H

	)'"''"&(#""(&(#"'
/:DLC6C9DE:G6I:;G6C8=>H:96JIDBDI>K:HIDG:H>CI=:-C>I:9+I6I:HEJGHJ6CIID;G6C8=>H:6I=K:=>8A:
B6CJ;68IJG:GH!C
	6EEGDM>B6I:AND;DJGIDI6AG:K:CJ:L6H<:C:G6I:97NDJGHIDG:H>CADG>96	6A>;DGC>6	6C9
,:M6HG6C8=>H:69:I=:B6CJ;68IJG:GHDG9>HIG>7JIDGHL>I=8DCH>9:G67A:>C;AJ:C8:DK:GI=:
DE:G6I>DCHD;I=:HIDG:,=:HJ88:HHD;6CN;G6C8=>H:96JIDBDI>K:9:6A:GH=>E>H9:E:C9:CI	ID6A6G<::MI:CI	DCI=:;>C6C8>6A
8DC9>I>DC	B6C6<:B:CI	B6G@:I>C<	EGD9J8I>DC	6C99>HIG>7JI>DC86E67>A>I>:HD;I=:K:=>8A:B6CJ;68IJG:GHDG9>HIG>7JIDGHD;
L=>8=L:=DA9;G6C8=>H:H/:=69G:8:>K67A:H;GDBB6CJ;68IJG:GHDG9>HIG>7JIDGHD;B>AA>DC6I:8:B7:G	
	
6C9
B>AA>DC6I:8:B7:G	
99>I>DC6AAN	6A6G<:EDGI>DCD;DJGDCIG68IH
>C
,G6CH>I>C8AJ9:9>C
*:8:>K67A:H	C:I	>CI=:688DBE6CN>C<DCHDA>96I:96A6C8:+=::IH	6G:9J:;GDB6JIDBDI>K:B6CJ;68IJG:GHZ86EI>K:
;>C6C8:HJ7H>9>6G>:HL=>8=EGDK>9:;>C6C8>C<9>G:8IANIDDJGC:L6C9JH:9K:=>8A:8JHIDB:GH
/:EJG8=6H:HJ7HI6CI>6AAN6AAD;DJGC:LK:=>8A:H;GDBK6G>DJHB6CJ;68IJG:GHDG9>HIG>7JIDGH6II=:EG:K6>A>C<EG>8:H
6K6>A67A:ID6AA;G6C8=>H:99:6A:GH99>I>DC6AAN	L:;>C6C8:6A6G<:EDGI>DCD;DJGC:LK:=>8A:>CK:CIDGNL>I=6JIDBDI>K:
B6CJ;68IJG:GHZ86EI>K:;>C6C8:HJ7H>9>6G>:H'JGH6A:HKDAJB:8DJA97:69K:GH:AN>BE68I:97NI=:B6CJ;68IJG:GHZDG
9>HIG>7JIDGHZ>C67>A>INIDHJEEANI=:HIDG:HL>I=6C69:FJ6I:HJEEAND;K:=>8A:H6C9G:A6I:9;>C6C8>C<
,=:8DG:7G6C9HD;K:=>8A:HI=6IL:H:AA	G:EG:H:CI>C<6EEGDM>B6I:AND;I=:C:LK:=>8A:HI=6IL:HDA9>C
	6G:
B6CJ;68IJG:97N,DNDI6>C8AJ9>C<$:MJH	 DC96	DG9	:C:G6A%DIDGH	%/	%:G8:9:H
:CO	+I:AA6CI>H	6C9
.DA@HL6<:C>C8AJ9>C<J9>6C9(DGH8=:H6G:HJAI	L:6G:HJ7?:8IID68DC8:CIG6I>DCD;G>H@	6C9DJG7JH>C:HH8DJA97:
B6I:G>6AAN69K:GH:AN>BE68I:97NI=:;>C6C8>6A9>HIG:HH	>C8AJ9>C<76C@GJEI8N	D;DGDI=:G69K:GH::K:CIG:A6I:9ID6B6?DG
K:=>8A:B6CJ;68IJG:GDGG:A6I:9A:C9:GDGHJEEA>:G
/:6G:6AHDHJ7?:8IID8DC8:CIG6I>DCG>H@>CI=::K:CID;I=:CDC
E:G;DGB6C8:D;I=>G9
E6GIN>C;DGB6I>DCI:8=CDAD8:EGDK>9:GH	HJ8=6HI=:EGDK>9:GD;DJG9:6A:GB6C6<:B:CIHNHI:BDCL=>8=L:H>;>86CIANG:ANIDDE:G6I:DJG
7JH>C:HH+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG69>H8JHH>DCD;6CDJI6<:I=6I>BE68I:9DJG
G:HJAIHD;DE:G6I>DCH9JG>C<

DC8:CIG6I>DCHD;8G:9>IG>H@L>I=G:HE:8IIDCDC
B6CJ;68IJG:GIG69:G:8:>K67A:H6G:A>B>I:99J:IDI=:L>9:K6G>:IND;
8JHIDB:GH6C9B6G@:IH>CL=>8=DJGEGD9J8IH6G:HDA96HL:AA6HI=:>G9>HE:GH>DC68GDHHB6CN9>;;:G:CI<:D86G:6H>C
I=:-C>I:9+I6I:HDCH:FJ:CIAN	6I:8:B7:G	
	L:9DCDI8DCH>9:GJID&6I>DCID=6K:6CNH>;>86CICDC
B6CJ;68IJG:G8DC8:CIG6I>DCHD;8G:9>IG>H@


	'!"("#&!(#"
I:8:B7:G	
	L:=69;DJGG:EDGI67A:H:8	!BEDGI	(G:B>JB$JMJGN	6C9
JID&6I>DC>C6C8:'JGDB:HI>8H:H8DBEG>H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAC:LK:=>8A:H
B6CJ;68IJG:97NDG9	:C:G6A%DIDGH	6C9+I:AA6CI>H'JG!BEDGIH:H8DBEG>H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:H
I=6IH:AAC:LK:=>8A:HB6CJ;68IJG:9EG>B6G>AN7N,DNDI6	 DC96	 NJC96>	+J76GJ	6C9&>HH6C'JG(G:B>JB$JMJGN
H:H8DBEG>H:9D;G:I6>A6JIDBDI>K:;G6C8=>H:HI=6IH:AAC:LK:=>8A:HB6CJ;68IJG:9EG>B6G>AN7N%:G8:9:H
:CO	
%/	$:MJH	J9>	6C9"6H:H>C:68=D;DJGDB:HI>8	!BEDGI	6C9(G:B>JB$JMJGN
H:8A:H	E6GIH6C96JIDBDI>K:H:GK>8:H	6C96JIDBDI>K:;>C6C8:6C9>CHJG6C8:EGD9J8IH'JG
JID&6I>DC>C6C8:H:H8DBEG>H:9D;DJG86EI>K:6JID;>C6C8:8DBE6CN	L=>8=EGDK>9:H>C9>G:8I;>C6C8>C<ID
FJ6A>;>:9G:I6>A8JHIDB:GHDCK:=>8A:HL:H:AA
XDGEDG6I:6C9DI=:GY>H8DBEG>H:9D;DJGCDC
;G6C8=>H:97JH>C:HH:H	>C8AJ9>C<JID&6I>DC-+JH:9K:=>8A:HIDG:H	
8DAA>H>DC8:CI:GH	E6GIH9>HIG>7JI>DC8:CI:GH	6J8I>DCDE:G6I>DCH	6C9DJGBD7>A:6JIDBDI>K:G:E6>G6C9B6>CI:C6C8:7JH>C:HH	
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



6AAD;L=>8=<:C:G6I:G:K:CJ:H7JI9DCDIB::II=:FJ6CI>I6I>K:I=G:H=DA9H;DGG:EDGI67A:H:C8DB:>I:BH
,=:G:EDGI67A:H:9:CI>;>:967DK:6G:I=:7JH>C:HH68I>K>I>:HD;I=:DBE6CN;DGL=>8=9>H8G:I:;>C6C8>6A
>C;DGB6I>DC>H6K6>A67A:6C9;DGL=>8=DE:G6I>C<G:HJAIH6G:G::L:97NDJG8=>:;DE:G6I>C<9:8>H>DCB6@:GID
6AAD86I:G:HDJG8:H6C96HH:HHE:G;DGB6C8:'JG8=>:;DE:G6I>C<9:8>H>DCB6@:G;DG:68=D;DJGG:EDGI67A:H:HDJG
=>:;M:8JI>K:';;>8:GDGI=:DB:HI>8	!BEDGI	6C9(G:B>JB$JMJGNH::;DE:G6I>C<9:8>H>DCB6@:G
JH:HDE:G6I>C<>C8DB:A:HH;ADDGEA6C:ME:CH:ID6HH:HHE:G;DGB6C8:6C96AAD86I:G:HDJG8:HID:68=H::;
DE:G6I>C<9:8>H>DCB6@:GJH:HJID&6I>DC>C6C8:!C8DB:$DHHID6HH:HHE:G;DGB6C8:6C96AAD86I:G:HDJG8:HIDI=:
JID&6I>DC>C6C8:H:C<I67A:HEGDK>9:H:I=I=:H:C;DGB6I>DCI=6I
>HG:9:9IDI=:8=>:;DE:G6I>C<9:8>H>DCB6@:G	6HL:AA6H6G:8DC8>A>6I>DCD;G:EDGI67A:H:C8DB:IDDJG
>C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:>C8DB:I6M:H
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



-3/?;232313:03?


<:3@A71
:=H:99:6A:GH=>EH

	
 
	  
	
 	
DGEDG6I:6C9DI=:G

	
,DI6A8DCHDA>96I:9G:K:CJ:H

	
!///!#)!*0!4,!*/!/
DHID;H6A:H
&:LK:=>8A:

	 
	
 
	
-H:9K:=>8A:

	 
	
 
	
(6GIH6C9H:GK>8:

 

 

'I=:G

 
 


,DI6A8DHID;H6A:H

	
 
	 
	
+:AA>C<	<:C:G6A6C969B>C>HIG6I>K::ME:CH:H
DBE:CH6I>DC

 
 

9K:GI>H>C<

 
 

+IDG:DK:G=:69



 
 


,DI6AH:AA>C<	<:C:G6A	6C969B>C>HIG6I>K:
:ME:CH:H

 
 
	


:EG:8>6I>DC6C96BDGI>O6I>DC

 
 

ADDGEA6C>CI:G:HI:ME:CH:


 
 

'I=:G>C8DB:


 

 


G6C8=>H:99:6A:GH=>EH
H:C8DB:

 
 


	

JID&6I>DC>C6C8:
!CI:G:HI;::>C8DB:


!CI:G:HI:ME:CH:


(GDK>H>DC;DG8G:9>IADHH:H


>G:8I:ME:CH:H


6>CDCH6A:D;6JIDAD6CHG:8:>K67A:


JID&6I>DC>C6C8:>C8DB:ADHH

 

DGEDG6I:6C9DI=:G


'I=:G>CI:G:HI:ME:CH:


'I=:G>C8DB:	C:I


!C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:
>C8DB:I6M:H


+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG9:I6>AD;G:K:CJ:7NH:C8DB:>C8AJ9:HC:I<6>CHDC6HH:I9>HEDH>I>DCH6C9A:<6AH:IIA:B:CIH
>G:8I:ME:CH:H6G:8DBEG>H:9EG>B6G>AND;8DBE:CH6I>DC:ME:CH:6C9AD6C69B>C>HIG6I>DC8DHIH>C8JGG:97NDJG6JID;>C6C8:
8DBE6CN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



-3/?;232313:03?


<:3@A71
:=H:99:6A:GH=>EH

	 
	
  
	
 	

DGEDG6I:6C9DI=:G

	
,DI6A8DCHDA>96I:9G:K:CJ:H

	
!///!#)!*0!4,!*/!/
DHID;H6A:H
&:LK:=>8A:

	
 
	 
	
-H:9K:=>8A:

	
 
	
 
	

(6GIH6C9H:GK>8:

 
 

'I=:G

 
 


,DI6A8DHID;H6A:H

	
 
	 
	

+:AA>C<	<:C:G6A6C969B>C>HIG6I>K::ME:CH:H
DBE:CH6I>DC

 
 

9K:GI>H>C<

 
 


+IDG:DK:G=:69


 
 

,DI6AH:AA>C<	<:C:G6A	6C969B>C>HIG6I>K:
:ME:CH:H


 
 

:EG:8>6I>DC6C96BDGI>O6I>DC

 
 

ADDGEA6C>CI:G:HI:ME:CH:

 
 

'I=:G>C8DB:


 

 
W
G6C8=>H:99:6A:GH=>EH
H:C8DB:

 

 


	
JID&6I>DC>C6C8:
!CI:G:HI;::>C8DB:



!CI:G:HI:ME:CH:



(GDK>H>DC;DG8G:9>IADHH:H


>G:8I:ME:CH:H


6>CDCH6A:D;6JIDAD6CHG:8:>K67A:


JID&6I>DC>C6C8:>C8DB:ADHH

 

DGEDG6I:6C9DI=:G


'I=:G>CI:G:HI:ME:CH:


'I=:G>C8DB:	C:I


!C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:
>C8DB:I6M:H

	

+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG9:I6>AD;G:K:CJ:7NH:C8DB:>C8AJ9:HC:I<6>CHDC6HH:I9>HEDH>I>DCH6C9A:<6AH:IIA:B:CIH
>G:8I:ME:CH:H6G:8DBEG>H:9EG>B6G>AND;8DBE:CH6I>DC:ME:CH:6C9AD6C69B>C>HIG6I>DC8DHIH>C8JGG:97NDJG6JID;>C6C8:
8DBE6CN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



-3/?;232313:03?


<:3@A71
:=H:99:6A:GH=>EH

	 
	
  
	
 	
DGEDG6I:6C9DI=:G

	

,DI6A8DCHDA>96I:9G:K:CJ:H

	

!///!#)!*0!4,!*/!/
DHID;H6A:H
&:LK:=>8A:

	
 
	
 
	
-H:9K:=>8A:

	 
	 
	
(6GIH6C9H:GK>8:

 
 


'I=:G

 
 

,DI6A8DHID;H6A:H

	 
	

 
	
+:AA>C<	<:C:G6A6C969B>C>HIG6I>K::ME:CH:H
DBE:CH6I>DC

 
 


9K:GI>H>C<


 
 


+IDG:DK:G=:69

 
 

,DI6AH:AA>C<	<:C:G6A	6C969B>C>HIG6I>K:
:ME:CH:H

 

 

:EG:8>6I>DC6C96BDGI>O6I>DC

 
 

ADDGEA6C>CI:G:HI:ME:CH:

 
 


'I=:G>C8DB:

 

 


G6C8=>H:99:6A:GH=>EH
H:C8DB:

 
 


	
JID&6I>DC>C6C8:
!CI:G:HI;::>C8DB:



!CI:G:HI:ME:CH:


(GDK>H>DC;DG8G:9>IADHH:H



>G:8I:ME:CH:H


JID&6I>DC>C6C8:>C8DB:ADHH

 

DGEDG6I:6C9DI=:G


'I=:G>CI:G:HI:ME:CH:


'I=:GADHH	C:I


!C8DB:;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:
>C8DB:I6M:H

	
+::&DI:D;I=:&DI:HIDDCHDA>96I:9>C6C8>6A+I6I:B:CIH;DG9:I6>AD;G:K:CJ:7NH:C8DB:>C8AJ9:HC:I<6>CHDC6HH:I9>HEDH>I>DCH6C9A:<6AH:IIA:B:CIH
>G:8I:ME:CH:H6G:8DBEG>H:9EG>B6G>AND;8DBE:CH6I>DC:ME:CH:6C9AD6C69B>C>HIG6I>DC8DHIH>C8JGG:97NDJG6JID;>C6C8:
8DBE6CN
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32



,=:;DAADL>C<I67A:HEGDK>9:>C;DGB6I>DCDC;ADDGEA6C>CI:G:HI:ME:CH:	9:EG:8>6I>DC6C96BDGI>O6I>DC	86E>I6A
:ME:C9>IJG:H	6C9IDI6A6HH:IH
-3/?;232313:03?


<:3@A71
:=CI:G:HI:ME:CH:


 
 
 
W 
 

:EG:8>6I>DC6C96BDGI>O6I>DC

 
 
 
W 
 


6E>I6A:ME:C9>IJG:H

 
 
 
 
 



+:CI:G:HI:ME:CH:

 
 
 
W 

 

:EG:8>6I>DC6C96BDGI>O6I>DC

 
 
 
W 

 


6E>I6A:ME:C9>IJG:H



 

 
 

 
 


+:CI:G:HI:ME:CH:

 
 

 
W 
 

:EG:8>6I>DC6C96BDGI>O6I>DC

 
 
 
W 

 



6E>I6A:ME:C9>IJG:H

 

 
 

 

 

+:DC>CEGD6I:9L>I=A:6H:H:CI:G:99JG>C<I=:N:6G
XDGEDG6I:6C9DI=:GY6HH:IH>C8AJ9:AA6C9;G6C8=>H:G><=IH

	!) (!$ #-&$"'#"$ "'
DJGD;DJGHIDG:HE6GI>8>E6I:>CBJAI>:BEADN:GE:CH>DCEA6CH/:8DCIG>7JI:IDI=:H:BJAI>:BEADN:G9:;>C:97:C:;>I
E:CH>DCEA6CHJC9:GI=:I:GBHD;8DAA:8I>K:
76G<6>C>C<6CD;DJGJC>DC
G:EG:H:CI:9:BEADN::H
,=:G>H@HD;E6GI>8>E6I>C<>CI=:H:BJAI>:BEADN:GEA6CH6G:9>;;:G:CI;GDBH>CCI=:;DAADL>C<6HE:8IH
6
HH:IH8DCIG>7JI:9IDI=:BJAI>:BEADN:GEA6C7NDC::BEADN:GB6N7:JH:9IDEGDK>9:7:C:;>IHID:BEADN::HD;
DI=:GE6GI>8>E6I>C<:BEADN:GH
7 !;6E6GI>8>E6I>C<:BEADN:GHIDEH8DCIG>7JI>C<IDI=:EA6C	I=:JC;JC9:9D7A><6I>DCHD;I=:EA6CB6N7:6HHJB:97N
I=:G:B6>C>C<E6GI>8>E6I>C<:BEADN:GH
8
!;L:8=DDH:IDHIDEE6GI>8>E6I>C<>C6BJAI>:BEADN:GEA6C	L:B6N7:G:FJ>G:9IDE6NI=:EA6C6C6BDJCI76H:9
DCI=:JC9:G;JC9:9HI6IJHD;I=:EA6C	HJ7?:8IID8:GI6>CA>B>IH	G:;:GG:9ID6H6L>I=9G6L6AA>67>A>IN
,LDD;I=:BJAI>:BEADN:GE:CH>DCEA6CH>CL=>8=L:E6GI>8>E6I:6G:9:H>C<>CXG:9ODC:YHI6IJH	6H9:;>C:9
7NI=:(:CH>DC(GDI:8I>DC8I((D;

'JGE6GI>8>E6I>DC>CI=:H:EA6CH;DGI=:N:6G:C9:9:8:B7:G	
	>H
DJIA>C:9>CI=:I67A:7:ADL,=:X!&(:CH>DC(A6C&JB7:GY8DAJBCEGDK>9:HI=:BEADN:G!9:CI>;>86I>DC&JB7:G!&
6C9I=:I=G::
9><>IEA6CCJB7:G,=:BDHIG:8:CI((ODC:HI6IJH6K6>A67A:>C
6C9
>H76H:9DC>C;DGB6I>DCI=6I
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32


L:G:8:>K:9;GDBI=:EA6CH6C9>H8:GI>;>:97N:68=EA6CZH68IJ6GNBDC<DI=:G;68IDGH	EA6CH>CI=:G:9ODC:6G:<:C:G6AAN
A:HHI=6CE:G8:CI;JC9:9,=:A6HI8DAJBCA>HIHI=::ME>G6I>DC96I:D;I=:8DAA:8I>K:
76G<6>C>C<68=I=:
EA6CH6G:HJ7?:8IG:=67>A>I6I>DCEA6C=6H7::C>BEA:B:CI:9;DG:68=EA6C!CI=:I=>G9FJ6GI:GD;
	L:9>K:HI:9DC:
HIDG:I=6IE6GI>8>E6I:9>C6BJAI>:BEADN:GE:CH>DCEA6C,=:G:=6K:7::CCDDI=:GH>;>86CI8=6C<:HI=6I6;;:8II=:
8DBE6G67>A>IND;
	
	6C9
8DCIG>7JI>DCH
$3;@7<;$?K:!C9JHIG>:H(:CH>DC(A6C






*:9
*:9
 
 
 
1:H

!%&6I>DC6A(:CH>DCJC9







*:9
*:9









1:H

'I=:G;JC9H

W






,DI6A8DCIG>7JI>DCH
 
 
 

'JGHIDG:HL:G:CDIA>HI:9>CI=:JIDBDI>K:!C9JHIG>:H(:CH>DC(A6CZHDG!%&6I>DC6A(:CH>DCJC9ZHDGB


6HEGDK>9>C<BDG:I=6CD;I=:IDI6A8DCIG>7JI>DCH;DGI=:EA6CN:6GH:C9:9:8:B7:G	
DG


/:E6>9HJG8=6G<:HIDI=:JIDBDI>K:!C9JHIG>:H(:CH>DC(A6CD;
B>AA>DC	
B>AA>DC	6C9
B>AA>DC>C

	
	6C9
G:HE:8I>K:AN+JG8=6G<:HIDI=:!%&6I>DC6A(:CH>DCJC9L:G:9:B>C>B>H

/:6G:E6GINIDI=G::8DAA:8I>K:
76G<6>C>C<6G:8DCIG>7JI>DCHIDI=:JIDBDI>K:!C9JHIG>:H
(:CH>DC(A6C:68=L>I=6C:ME>G6I>DC96I:D;"JC:
	

 /:6G:E6GINIDDC:8DAA:8I>K:
76G<6>C>C<6G:H8DCIG>7JI>DCHIDI=:!%&6I>DC6A(:CH>DCJC9
L>I=6C:ME>G6I>DC96I:D;J8>E6I>C<>CI=:H:EA6CH	L:8DJA97:6HH:HH:9L>I=9G6L6AA>67>A>I>:H	L=>8=L::HI>B6I:
6G:6EEGDM>B6I:ANB>AA>DC;DGI=:JIDBDI>K:!C9JHIG>:H(:CH>DC(A6C6C96EEGDM>B6I:ANB>AA>DC;DGI=:!%
&6I>DC6A(:CH>DCJC9
)(#"(#""	
"#('(##"'# ("" '((!"('
<;A7;B32

------------------ ------- ------ ------ ---- ---- ---- ------ ------
---- ---- ----
---- ---- ----

(!	"  
 
&DC:
(!	 
C/9B/A7<;<47@19<@B?3<;A?<9@/;2$?<132B?3@
'JGB6C6<:B:CI	L>I=I=:E6GI>8>E6I>DCD;DJG=>:;M:8JI>K:';;>8:G6C9=>:;>C6C8>6A';;>8:G	:K6AJ6I:9I=:
:;;:8I>K:C:HHD;DJG9>H8ADHJG:8DCIGDAH6C9EGD8:9JG:H6H9:;>C:9>C*JA:H6
:6C99
:JC9:GI=:+:8JG>I>:H
M8=6C<:8ID;	6H6B:C9:9I=:XM8=6C<:8IY6HD;I=::C9D;I=:E:G>D98DK:G:97NI=>HCCJ6A*:EDGIDC
DGB
#6H:9DCI=6I:K6AJ6I>DC	DJG=>:;M:8JI>K:';;>8:G6C9=>:;>C6C8>6A';;>8:G8DC8AJ9:9I=6IDJG
9>H8ADHJG:8DCIGDAH6C9EGD8:9JG:HL:G::;;:8I>K:6HD;I=::C9D;I=:E:G>D98DK:G:97NI=>HCCJ6A*:EDGIDCDGB
#
!/;/53:3;AH@;;B/9&3=HG:HEDCH>7A:;DG:HI67A>H=>C<6C9B6>CI6>C>C<69:FJ6I:>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6H
9:;>C:9>C*JA:H6
;6C99
;JC9:GI=:M8=6C<:8I%6C6<:B:CI8DC9J8I:96C:K6AJ6I>DCD;I=:
:;;:8I>K:C:HHD;DJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<76H:9DCI=:;G6B:LDG@>C*0!.*(+*0.+(9*0!#.0! 
.)!3+.'	
>HHJ:97NI=:DBB>II::D;+EDCHDG>C<'G<6C>O6I>DCHD;I=:,G:69L6NDBB>HH>DC6H:9DCI=>H
:K6AJ6I>DCDJGB6C6<:B:CI8DC8AJ9:9I=6IDJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<L6H:;;:8I>K:6HD;:8:B7:G	

'JG>C9:E:C9:CIG:<>HI:G:9EJ7A>8688DJCI>C<;>GB	#(%$$(	6AHD8DC8AJ9:9I=6IL:B6>CI6>C:9:;;:8I>K:>CI:GC6A
8DCIGDADK:G;>C6C8>6AG:EDGI>C<6HH:I;DGI=>C>IH*:EDGID;!C9:E:C9:CI*:<>HI:G:9(J7A>888DJCI>C<>GBL=>8=>H
>C8AJ9:9>C(6GI!!	!I:BD;I=>HDGB
#
6/;53@7;;A3?;/9<;A?<9CDJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6H9:;>C:9>C*JA:H6
;6C99
;
JC9:GI=:M8=6C<:8I>9:CI>;>:9>C8DCC:8I>DCL>I=I=::K6AJ6I>DCG:FJ>G:97NE6G6C<I=:;DJGI=FJ6GI:GD;
I=6I=6HB6I:G>6AAN6;;:8I:9	DG>HG:6HDC67ANA>@:AN
IDB6I:G>6AAN6;;:8I	DJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<
(!	
JG>C<I=:;>H86AFJ6GI:G:C9:9:8:B7:G	
	CD9>G:8IDGDGD;;>8:GD;I=:DBE6CN69DEI:9DGI:GB>C6I:96X*JA:

7
IG69>C<6GG6C<:B:CIYDG6XCDC
*JA:
7
IG69>C<6GG6C<:B:CIY>C:68=86H:	6H9:;>C:9>C!I:B
D;
*:DC+
#
(!	  !
&DI6EEA>867A:


$&(
(!	 # !!
,=:>C;DGB6I>DCJC9:GI=:=:69>C<X!C;DGB6I>DC67DJIDJGM:8JI>K:';;>8:GHY>C(6GI!	!I:BD;I=>HDGB
#>H
>C8DGEDG6I:97NG:;:G:C8:>CI=>HH:8I>DC
/:=6K:69DEI:96D9:D;JH>C:HHI=>8H6EEA>867A:ID6AA:BEADN::H!C699>I>DC	L:=6K:69DEI:96D9:D;I=>8H
;DG+:C>DG';;>8:GH6EEA>867A:IDDJGEG>C8>E6A:M:8JI>K:D;;>8:G	EG>C8>E6A;>C6C8>6AD;;>8:G	EG>C8>E6A688DJCI>C<D;;>8:G	
6C9DI=:GH:C>DGD;;>8:GH6C96D9:D;I=>8H;DG>G:8IDGH6EEA>867A:IDDJG9>G:8IDGH,=:H:8D9:H6G:6K6>A67A:DCDJG
!CK:HIDG*:A6I>DCHL:7H>I:6I%*2!/0+./10+*0%+*+)!CI=::K:CII=6IL:6B:C9DGL6>K:6CND;I=:EGDK>H>DCHD;I=:
D9:D;I=>8H;DG+:C>DG';;>8:GHI=6IG:A6I:ID6CN:A:B:CID;I=:8D9:D;:I=>8H9:;>C>I>DC:CJB:G6I:9>C!I:B
7D;
*:DC+
#	L:>CI:C9ID9>H8ADH:I=:H6B:DCDJG!CK:HIDG*:A6I>DCHL:7H>I:
/:=6K:>CH>9:GIG69>C<EDA>8>:H6C9EGD8:9JG:HI=6IHEDH>I>DCD;DJGH:8JG>I>:H
7NDJG9>G:8IDGH	D;;>8:GH	6C9:BEADN::HI=6IL:7:A>:K:6G:G:6HDC67AN9:H>6C8:L>I=>CH>9:G
IG69>C<A6LH	GJA:H6C9G:DCH6C9I=:A>HI>C<HI6C96G9HD;I=:&:L1DG@+ID8@M8=6C<:8DEND;DJG!CH>9:G
,G69>C<(DA>8N>H;>A:9L>I=I=>HCCJ6A*:EDGIDCDGB
#6HM=>7>I
,=:DI=:G>C;DGB6I>DCG:FJ>G:97NI=>H>I:B>H>C8DGEDG6I:97NG:;:G:C8:IDJID&6I>DCZH(GDMN+I6I:B:CI;DG>IH

CCJ6A%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9D;I=:;>H86AN:6G:C9:9:8:B7:G
	

(!	 # !
,=:>C;DGB6I>DCG:FJ>G:97NI=>H>I:B>H>C8DGEDG6I:97NG:;:G:C8:IDJID&6I>DCZH(GDMN+I6I:B:CI;DG>IH
CCJ6A
%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9D;I=:;>H86AN:6G:C9:9:8:B7:G	


(!
	  $"
"

>B7AF<:=3;@/A7<;$9/;@
,=:;DAADL>C<I67A:EGDK>9:H>C;DGB6I>DC6HD;:8:B7:G	
	G:<6G9>C<DJG:FJ>IN8DBE:CH6I>DCEA6CH
%)(-#!$"'(#"$ "'



$9/;/A35B7AF<:=3;@/A7<;$9/;@
E19B27;5'31B?7A73@&34931A327;
<9B:;
FJ>INDBE:CH6I>DC(A6CHEEGDK:97N
+:8JG>IN DA9:GH

	

 
		


FJ>INDBE:CH6I>DC(A6CH&DIEEGDK:97N
+:8JG>IN DA9:GH
W

W 
W
,DI6A

	

 
		



!C8AJ9:H	
H=6G:HDC	!C8
BEADN::FJ>IN6C9!C8:CI>K:(A6CI=:X

(A6CY6C9	
H=6G:HDC	!C8
&DC
BEADN::>G:8IDGFJ>IN(A6CI=:X

(A6CYI=6I6G:>HHJ67A:JEDCH:IIA:B:CID;DJIHI6C9>C<G:HIG>8I:9HID8@JC>IHX*+-HY,=:G:B6>C>C<76A6C8:
8DCH>HIHD;DJIHI6C9>C<HID8@DEI>DC6L6G9H

,=:L:><=I:96K:G6<::M:G8>H:EG>8:9D:HCDII6@:>CID688DJCII=:H=6G:H>HHJ67A:JEDCH:IIA:B:CID;DJIHI6C9>C<
*+-H	L=>8==6K:CD:M:G8>H:EG>8:

!C8AJ9:H		

H=6G:H6K6>A67A:JC9:GI=:
(A6C6C9

	


H=6G:H6K6>A67A:JC9:GI=:
&DC
BEADN::
>G:8IDGFJ>IN(A6CI=:X
>G:8IDG(A6CY


,=:DI=:G>C;DGB6I>DCG:FJ>G:97NI=>H>I:B>H>C8DGEDG6I:97NG:;:G:C8:IDJID&6I>DCZH(GDMN+I6I:B:CI;DG>IH

CCJ6A%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9D;I=:;>H86AN:6G:C9:9
:8:B7:G	

(!	
,=:>C;DGB6I>DCG:FJ>G:97NI=>H>I:B>H>C8DGEDG6I:97NG:;:G:C8:IDJID&6I>DCZH(GDMN+I6I:B:CI;DG>IH
CCJ6A
%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9D;I=:;>H86AN:6G:C9:9:8:B7:G	


(!	 !
,=:>C;DGB6I>DCG:FJ>G:97NI=>H>I:B>H>C8DGEDG6I:97NG:;:G:C8:IDJID&6I>DCZH(GDMN+I6I:B:CI;DG>IH
CCJ6A
%::I>C<D;+ID8@=DA9:GHID7:;>A:9L>I=I=:+L>I=>C
96NH6;I:GI=::C9D;I=:;>H86AN:6G:C9:9:8:B7:G	




$&(*
(!	#
 


>C6C8>6A+I6I:B:CIH,=:DCHDA>96I:9>C6C8>6A+I6I:B:CIHD;JID&6I>DC6G:H:I;DGI=>C(6GI!!	!I:BD;I=>H
DGB
#

>C6C8>6A+I6I:B:CI+8=:9JA:H&DI6EEA>867A:

M=>7>IH,=::M=>7>IHA>HI:9>CI=:688DBE6CN>C<M=>7>I!C9:M6G:;>A:9	;JGC>H=:9	DG>C8DGEDG6I:97NG:;:G:C8:
6HE6GID;I=>HDGB
#
:GI6>CD;I=:6HI:96H:M=>7>IHIDI=>HDGB
#>C8AJ9>C<I=::M=>7>IHIDHJ8=68==6K:
7::C;>A:9IDEGDK>9:>CK:HIDGHL>I=>C;DGB6I>DCG:<6G9>C<I=:>GI:GBH	8DCI6>CK6G>DJHG:EG:H:CI6I>DCH	L6GG6CI>:H	6C9
8DK:C6CIHD;JID&6I>DC	!C86C9I=:DI=:GE6GI>:HI=:G:ID,=:N6G:CDI>CI:C9:9IDEGDK>9:;68IJ6A>C;DGB6I>DC67DJI6CN
D;I=:E6GI>:HI=:G:IDDG6CNHJ7H>9>6G>:HD;I=:E6GI>:HI=:G:ID,=:6HH:GI>DCH:B7D9>:9>CI=DH:G:EG:H:CI6I>DCH	L6GG6CI>:H	
6C98DK:C6CIHL:G:B69:;DGEJGEDH:HD;:68=D;I=:6ID;I=:E6GI>:HI=:G:ID!C699>I>DC	
8:GI6>CG:EG:H:CI6I>DCH6C9L6GG6CI>:HL:G:B69:6HD;6HE:8>;>896I:	B6N7:HJ7?:8IID68DCIG68IJ6AHI6C96G9D;
B6I:G>6A>IN9>;;:G:CI;GDBL=6I6H:8JG>IN=DA9:GB><=IK>:L6HB6I:G>6A	DGB6N=6K:7::CB69:;DGEJGEDH:HD;6AAD86I>C<
8DCIG68IJ6AG>H@6BDC<I=:E6GI>:HG6I=:GI=6C:HI67A>H=>C<B6II:GH6H;68IH!CK:HIDGHH=DJA9CDIK>:LI=:G:EG:H:CI6I>DCH	
L6GG6CI>:H	6C98DK:C6CIH>CI=:6EI>DCI=:G:D;6H9>H8ADHJG:HL>I=G:HE:8IIDI=:68IJ6AHI6I:D;
;68IH8DC8:GC>C<I=:7JH>C:HH	DE:G6I>DCH	DG8DC9>I>DCD;6CND;I=:E6GI>:HIDI=:6GHJ7H>9>6G>:H6C9
H=DJA9CDIG:ANDCI=:B6HHJ8=!C699>I>DC	>C;DGB6I>DC>C6CNHJ8=G:EG:H:CI6I>DCH	L6GG6CI>:H	DG8DK:C6CIHB6N8=6C<:
6;I:GI=:96I:H8DK:G:97NHJ8=EGDK>H>DCH	L=>8=HJ7H:FJ:CI>C;DGB6I>DCB6NDGB6NCDI7:;JAANG:;A:8I:9>CI=:EJ7A>8
9>H8ADHJG:HD;I=:E6GI>:H!C6CN:K:CI	>CK:HIDGHH=DJA9G:69I=:6I=I=:DI=:G>C;DGB6I>DC
8DC8:GC>C<JID&6I>DC	!C88DCI6>C:9>CG:EDGIH6C9HI6I:B:CIHI=6IL:;>A:L>I=I=:+
(!		 $
&DC:


'"()&'
(JGHJ6CIIDI=:G:FJ>G:B:CIHD;+:8I>DCDG9D;I=:+:8JG>I>:HM8=6C<:8ID;	I=:G:<>HIG6CI=6H9JAN
86JH:9I=>HG:EDGIID7:H>IH7:=6A;7NI=:JC9:GH>O:9
)(#"(#""	
*:<>HIG6CI
N
+%! $%&$1
%>8=6:A%6CA:N
=>:;M:8JI>K:';;>8:G6C9>G:8IDG
:7GJ6GN	

(JGHJ6CIIDI=:G:FJ>G:B:CIHD;I=:+:8JG>I>:HM8=6C<:8ID;	I=>HG:EDGI=6H7::CH>C<
E:GHDCHDC7:=6A;D;I=:G:<>HIG6CI6C9>CI=:86E68>I>:H6C9DCI=:96I:H>C9>86I:9
'75;/AB?3
(7A93
/A3
+%! $%&$1
=>:;M:8JI>K:';;>8:G6C9>G:8IDG
:7GJ6GN	

%>8=6:A%6CA:N
(G>C8>E6AM:8JI>K:';;>8:G
+, '%++2$'+#
M:8JI>K:.>8:(G:H>9:CI6C9=>:;
:7GJ6GN	

,=DB6H+OADH:@
>C6C8>6A';;>8:G(G>C8>E6A>C6C8>6A';;>8:G
+#!%*$1*+
+:C>DG.>8:(G:H>9:CI6C9=>:;88DJCI>C<
:7GJ6GN	

#>B7:GAN*::H
';;>8:G(G>C8>E6A88DJCI>C<';;>8:G
+*!#$-*!#
=6>GB6CD;I=:D6G9
:7GJ6GN	

*>8@$JG9>8@
+$!*&&,,
>G:8IDG
:7GJ6GN	

A6>G::CC:II
+.!$+'&
>G:8IDG
:7GJ6GN	

6K>99:AHDC
+*'*,**-+#1
>G:8IDG
:7GJ6GN	

*D7:GI*GJH@N
+&'*%&#"&#!&+
>G:8IDG
:7GJ6GN	

&DGB6C#":C@>CH
+$!+$-,'
(*$'
>G:8IDG
:7GJ6GN	

$>H6$JID;;
(:GAD
+%!#%!#&
>G:8IDG
:7GJ6GN	

%>@:%>@6C
+ ")-$!&  ,*.!+&'
>G:8IDG
:7GJ6GN	

"68FJ:A>C:,G6K>H6CD



DJGI=B:C9:96C9*:HI6I:9:GI>;>86I:D;
!C8DGEDG6I>DCD;JID&6I>DC	!C8

)









B:C9:96C9*:HI6I:9N
$6LHD;JID&6I>DC	!C8

)









!C9:CIJG:	96I:9EG>A	

I=:X

!C9:CIJG:Y	
6BDC<JID&6I>DC	!C86C9DBEJI:GH=6G:,GJHI
DBE6CN	&	6HHJ88:HHDGID/:AAH6GDC6AHHD8>6I>DC	6HIGJHI::

#









+JEEA:B:CI6A!C9:CIJG:ID

!C9:CIJG:	96I:9
+:EI:B7:G	
	G:A6I>C<IDI=:DBE6CNZH
+:C>DG&DI:H9J:


#









DGBD;+:C>DG&DI:H9J:
>C8AJ9:9>C
M=>7>I

#









+JEEA:B:CI6A!C9:CIJG:ID

!C9:CIJG:	96I:9
&DK:B7:G
	
	G:A6I>C<IDI=:DBE6CNZH
+:C>DG&DI:H9J:


#









DGBD;+:C>DG&DI:H9J:
>C8AJ9:9>C
M=>7>I

#









+JEEA:B:CI6A!C9:CIJG:ID

!C9:CIJG:	96I:9%6N
	

	G:A6I>C<IDI=:DBE6CNZH+:C>DG&DI:H
9J:



#









DGBD;+:C>DG&DI:H9J:

>C8AJ9:9>C
M=>7>I

#









+JEEA:B:CI6A!C9:CIJG:ID

!C9:CIJG:	96I:9"JAN
	
	G:A6I>C<IDI=:DBE6CNZH+:C>DG&DI:H
9J:
6C9+:C>DG&DI:H9J:


#









DGBD;+:C>DG&DI:H9J:
>C8AJ9:9>C
M=>7>I

#









DGBD;+:C>DG&DI:H9J:
>C8AJ9:9>C
M=>7>I

#









+JEEA:B:CI6A!C9:CIJG:ID

!C9:CIJG:	96I:9
:7GJ6GN	
	G:A6I>C<IDI=:DBE6CNZH
+:C>DG&DI:H9J:


#









DGBD;+:C>DG&DI:H9J:
>C8AJ9:9>C
M=>7>I

#









:H8G>EI>DCD;*:<>HIG6CIZH+:8JG>I>:H


JID&6I>DC	!C8:;:GG:9DBE:CH6I>DC(A6C	6H
6B:C9:96C9G:HI6I:9


JID&6I>DC	!C8
&DC
BEADN::>G:8IDGFJ>IN
(A6CI=:X
>G:8IDG(A6CY

)











,:GBHD;&DC
BEADN::>G:8IDG*:HIG>8I:9+ID8@-C>IH
G:8IDG(A6C

)











B:C9B:CIIDI=:
>G:8IDG(A6C	:;;:8I>K:6HD;
"6CJ6GN	


)











JID&6I>DC	!C8
&DC
BEADN::>G:8IDGFJ>IN
(A6C

)











JID&6I>DC	!C8

BEADN::FJ>IN6C9!C8:CI>K:
(A6CI=:X

(A6CY

)












DGBD;+ID8@'EI>DCC





)












DGBD;+ID8@'EI>DCC


#











DGBD;+ID8@'EI>DCC


)









E6707A
"B:03?
E6707A3@1?7=A7<;
;1DCC


)











JID&6I>DC	!C8
BEADN::FJ>IN6C9!C8:CI>K:
(A6CI=:X
(A6CY

#











DGBD;JID&6I>DC	!C8*:HIG>8I:9+ID8@-C>IL6G9
DGID
&DK:B7:G


)











DGBD;JID&6I>DC	!C8*:HIG>8I:9+ID8@-C>IL6G9
C&DK:B7:G



#





 




DGBD;JID&6I>DC	!C8+ID8@-C>IL6G9HDGID


)











DGBD;JID&6I>DC	!C8+ID8@-C>IL6G9C


)











DGBD;JID&6I>DC	!C8+ID8@-C>IL6G9C
6C9


)












JID&6I>DC	!C8M:8JI>K:+:K:G6C8:(A6C	69DEI:96H
D;EG>A	


)











BEADNB:CIDC	!C86C9%>8=6:A%6CA:N

#











B:C9B:CIIDBEADNB:CIDC	!C8
6C9%>8=6:A%6CA:N

)












*:I>G:B:CI6C9:C:G6A*:A:6H:8=6:A""68@HDC
6C9JID&6I>DC	!C8

#





 




$:II:GDC	!C86C9>6CAJ866BEADC:

)











$:II:GDC	!C86C9$>H6HE6GO6

)












$:II:GDC	!C86C9,=DB6H+OADH:@

#











$:II:GDC	!C86C9":;;(6G:CI

#











B:C9:96C9*:HI6I:9G:9>IC>HIG6I>K:<:CI	6C9I=:DI=:G
E6GI>:HI=:G:ID

)











DGBD;DBB:G8>6A(6E:G:6A:GDC	!C8	6H!HHJ:G	6C9I=::6A:GE6GINI=:G:ID

#










JID&6I>DC	!C8B:C9:96C9*:HI6I:9!CH>9:G,G69>C<
(DA>8N

+J7H>9>6G>:HD;JID&6I>DC	!C8

DCH:CID;#(%$$(

:GI>;>86I>DCD;(G>C8>E6AM:8JI>K:';;>8:G(JGHJ6CIID
*JA:6
6D;I=:M8=6C<:8I

:GI>;>86I>DCD;(G>C8>E6A>C6C8>6A';;>8:G(JGHJ6CIID
*JA:6
6D;I=:M8=6C<:8I

:GI>;>86I>DCD;(G>C8>E6AM:8JI>K:';;>8:G(JGHJ6CIID
*JA:6
7D;I=:M8=6C<:8I6C9-+
+:8I>DC


:GI>;>86I>DCD;(G>C8>E6A>C6C8>6A';;>8:G(JGHJ6CIID
*JA:6
7D;I=:M8=6C<:8I6C9-+
+:8I>DC

E6707A
"B:03?
E6707A3@1?7=A7<;
;1DC	!C8B:C9:96C9*:HI6I:9(DA>8N
*:<6G9>C<*:8DJEB:CID;:GI6>C!C8:CI>K:
DBE:CH6I>DC

#










!CA>C:0*$D8JB:CI+:I;DGI=:8DCHDA>96I:9
;>C6C8>6AHI6I:B:CIH6C9688DBE6CN>C<CDI:H>C(6GI!!	
!I:B	X>C6C8>6A+I6I:B:CIH6C9+JEEA:B:CI6GN6I6Y
D;I=>HCCJ6A*:EDGIDCDGB
#


!CA>C:0*$;DGI=:8DK:GE6<:D;I=>HCCJ6A*:EDGIDC
DGB
#	>C8AJ9:9>CI=:M=>7>I
!CA>C:0*$
D8JB:CI+:I
E6707A
"B:03?
E6707A3@1?7=A7<;
;1A:9=:G:L>I=

JGC>H=:9=:G:L>I=
M=>7>IH
I=GDJ<=
6C9M=>7>I6G:B6C6<:B:CI8DCIG68IHDG8DBE:CH6IDGNEA6CH	8DCIG68IH	DG6GG6C<:B:CIH
!C688DG96C8:L>I=!I:B
7>>>D;*:DC+
#	8DE>:HD;8:GI6>C>CHIGJB:CIH9:;>C>C<I=:G><=IHD;=DA9:GHD;
ADC<
I:GB9:7ID;I=:DBE6CNDG>IHHJ7H>9>6G>:H6G:CDI;>A:9=:G:L>I=/:=:G:7N6H=68DEND;6CNHJ8=
>CHIGJB:CIIDI=:DBB>HH>DCJEDCG:FJ:HI
,(",


7()")3		
		
)#(!%+!-+%8#%13)&83(!3
	(!5%1%5)%6%$3()2--4!+%/.13.-.1,	.&43.!3).--#

!2%$.-,8*-.6+%$'%3()21%/.13$.%2-.3#.-3!)-!-84-314%23!3%,%-3.&!,!3%1)!+&!#3.1.,)33.23!3%!,!3%1)!+
&!#3-%#%22!183.,!*%3(%23!3%,%-32,!$%)-+)'(3.&3(%#)1#4,23!-#%24-$%16()#(24#(23!3%,%-326%1%,!$%-.3
,)2+%!$)-'6)3(1%2/%#33.3(%/%1).$#.5%1%$"83()21%/.13
!2%$.-,8*-.6+%$'%3(%&)-!-#)!+23!3%,%-32!-$.3(%1&)-!-#)!+)-&.1,!3).-)-#+4$%$)-3()21%/.13&!)1+8
/1%2%-3)-!++,!3%1)!+1%2/%#323(%&)-!-#)!+#.-$)3).-1%24+32.&./%1!3).-2!-$#!2(&+.62.&3(%1%')231!-3!2.&!-$&.1
3(%/%1).$2/1%2%-3%$)-3()21%/.13
(%1%')231!-3:2.3(%1#%13)&8)-'.&&)#%12!-$!1%1%2/.-2)"+%&.1%23!"+)2()-'!-$,!)-3!)-)-'$)2#+.241%#.-31.+2
!-$/1.#%$41%2!2$%&)-%$)-7#(!-'%#34+%2	!	
%!-$	
$	
%!-$)-3%1-!+#.-31.+.5%1&)-!-#)!+1%/.13)-'
!2$%&)-%$)-7#(!-'%#34+%2	!	
&!-$	
$	
&&.13(%1%')231!-3!-$(!5%
!%2)'-%$24#($)2#+.241%#.-31.+2!-$/1.#%$41%2.1#!42%$24#($)2#+.241%#.-31.+2!-$/1.#%$41%23."%
$%2)'-%$4-$%1.4124/%15)2).-3.%-241%3(!3,!3%1)!+)-&.1,!3).-1%+!3)-'3.3(%1%')231!-3)-#+4$)-')32#.-2.+)$!3%$
24"2)$)!1)%2)2,!$%*-.6-3.42"8.3(%126)3()-3(.2%%-3)3)%2/!13)#4+!1+8$41)-'3(%/%1).$)-6()#(3()21%/.13)2
"%)-'/1%/!1%$
"%2)'-%$24#()-3%1-!+#.-31.+.5%1&)-!-#)!+1%/.13)-'.1#!42%$24#()-3%1-!+#.-31.+.5%1&)-!-#)!+1%/.13)-'3.
"%$%2)'-%$4-$%1.4124/%15)2).-3./1.5)$%1%!2.-!"+%!2241!-#%1%'!1$)-'3(%1%+)!")+)38.&&)-!-#)!+1%/.13)-'!-$
3(%/1%/!1!3).-.&&)-!-#)!+23!3%,%-32&.1%73%1-!+/41/.2%2)-!##.1$!-#%6)3('%-%1!++8!##%/3%$!##.4-3)-'
/1)-#)/+%2
#5!+4!3%$3(%%&&%#3)5%-%22.&3(%1%')231!-3:2$)2#+.241%#.-31.+2!-$/1.#%$41%2!-$/1%2%-3%$)-3()21%/.13.41
#.-#+42).-2!".433(%%&&%#3)5%-%22.&3(%$)2#+.241%#.-31.+2!-$/1.#%$41%2!2.&3(%%-$.&3(%/%1).$#.5%1%$"83()2
1%/.13"!2%$.-24#(%5!+4!3).-!-$
$)2#+.2%$)-3()21%/.13!-8#(!-'%)-3(%1%')231!-3:2)-3%1-!+#.-31.+.5%1&)-!-#)!+1%/.13)-'3(!3.##411%$
$41)-'3(%1%')231!-3:2,.231%#%-3&)2#!+04!13%13(%1%')231!-3:2&.413(&)2#!+04!13%1)-3(%#!2%.&!-!--4!+1%/.13
3(!3(!2,!3%1)!++8!&&%#3%$.1)21%!2.-!"+8+)*%+83.,!3%1)!++8!&&%#33(%1%')231!-3:2)-3%1-!+#.-31.+.5%1&)-!-#)!+
1%/.13)-'!-$

(%1%')231!-3:2.3(%1#%13)&8)-'.&&)#%12!-$(!5%$)2#+.2%$"!2%$.-.41,.231%#%-3%5!+4!3).-.&)-3%1-!+
#.-31.+.5%1&)-!-#)!+1%/.13)-'3.3(%1%')231!-3:2!4$)3.12!-$3(%!4$)3#.,,)33%%.&3(%1%')231!-3:2".!1$.&$)1%#3.12.1
/%12.-2/%1&.1,)-'3(%%04)5!+%-3&4-#3).-2
!++2)'-)&)#!-3$%&)#)%-#)%2!-$,!3%1)!+6%!*-%22%2)-3(%$%2)'-.1./%1!3).-.&)-3%1-!+#.-31.+.5%1&)-!-#)!+
1%/.13)-'6()#(!1%1%!2.-!"+8+)*%+83.!$5%12%+8!&&%#33(%1%')231!-3:2!")+)383.1%#.1$/1.#%2224,,!1)9%!-$1%/.13
&)-!-#)!+)-&.1,!3).-!-$
"-8&1!4$6(%3(%1.1-.3,!3%1)!+3(!3)-5.+5%2,!-!'%,%-3.1.3(%1%,/+.8%%26(.(!5%!2)'-)&)#!-31.+%)-
3(%1%')231!-3:2)-3%1-!+#.-31.+.5%1&)-!-#)!+1%/.13)-'
 
)#(!%+!-+%8
()%&7%#43)5%&&)#%1!-$)1%#3.1
!3%%"14!18	




9*+$+5	
		
 *0.#4;-04',%'35+(:5*#5
	*#7'3'7+'8'&5*+4//6#-'10350/03.	0(650#5+0//%

#4'&0/.:,/08-'&)'5*+43'1035&0'4/05%0/5#+/#/:6/536'45#5'.'/50(#.#5'3+#-(#%5030.+55045#5'#.#5'3+#-
(#%5/'%'44#3:50.#,'5*'45#5'.'/54.#&'+/-+)*50(5*'%+3%6.45#/%'46/&'38*+%*46%*45#5'.'/548'3'.#&'/05
.+4-'#&+/)8+5*3'41'%5505*'1'3+0&%07'3'&$:5*+43'1035
#4'&0/.:,/08-'&)'5*'(+/#/%+#-45#5'.'/54#/&05*'3(+/#/%+#-+/(03.#5+0/+/%-6&'&+/5*+43'1035(#+3-:
13'4'/5+/#--.#5'3+#-3'41'%545*'(+/#/%+#-%0/&+5+0/3'46-540(01'3#5+0/4#/&%#4*(-0840(5*'3')+453#/5#40(#/&(03
5*'1'3+0&413'4'/5'&+/5*+43'1035
 *'3')+453#/5<405*'3%'35+(:+/)0((+%'34#/&#3'3'410/4+$-'(03'45#$-+4*+/)#/&.#+/5#+/+/)&+4%-0463'%0/530-4
#/&130%'&63'4#4&'(+/'&+/9%*#/)'%56-'4	#	
'#/&	
&	
'#/&+/5'3/#-%0/530-07'3(+/#/%+#-3'1035+/)
#4&'(+/'&+/9%*#/)'%56-'4	#	
(#/&	
&	
((035*'3')+453#/5#/&*#7'
#'4+)/'&46%*&+4%-0463'%0/530-4#/&130%'&63'403%#64'&46%*&+4%-0463'%0/530-4#/&130%'&63'450$'
&'4+)/'&6/&'3063461'37+4+0/50'/463'5*#5.#5'3+#-+/(03.#5+0/3'-#5+/)505*'3')+453#/5+/%-6&+/)+54%0/40-+'&
46$4+&+#3+'4+4.#&',/08/5064$:05*'348+5*+/5*04''/5+5+'41#35+%6-#3-:&63+/)5*'1'3+0&+/8*+%*5*+43'1035+4
$'+/)13'1#3'&
$'4+)/'&46%*+/5'3/#-%0/530-07'3(+/#/%+#-3'1035+/)03%#64'&46%*+/5'3/#-%0/530-07'3(+/#/%+#-3'1035+/)50
$'&'4+)/'&6/&'3063461'37+4+0/501307+&'3'#40/#$-'#4463#/%'3')#3&+/)5*'3'-+#$+-+5:0((+/#/%+#-3'1035+/)#/&
5*'13'1#3#5+0/0((+/#/%+#-45#5'.'/54(03'95'3/#-163104'4+/#%%03&#/%'8+5*)'/'3#--:#%%'15'&#%%06/5+/)
13+/%+1-'4
%7#-6#5'&5*''(('%5+7'/'440(5*'3')+453#/5<4&+4%-0463'%0/530-4#/&130%'&63'4#/&13'4'/5'&+/5*+43'1035063
%0/%-64+0/4#$0655*''(('%5+7'/'440(5*'&+4%-0463'%0/530-4#/&130%'&63'4#40(5*''/&0(5*'1'3+0&%07'3'&$:5*+4
3'1035$#4'&0/46%*'7#-6#5+0/#/&
&+4%-04'&+/5*+43'1035#/:%*#/)'+/5*'3')+453#/5<4+/5'3/#-%0/530-07'3(+/#/%+#-3'1035+/)5*#50%%633'&
&63+/)5*'3')+453#/5<4.0453'%'/5(+4%#-26#35'35*'3')+453#/5<4(0635*(+4%#-26#35'3+/5*'%#4'0(#/#//6#-3'1035
5*#5*#4.#5'3+#--:#(('%5'&03+43'#40/#$-:-+,'-:50.#5'3+#--:#(('%55*'3')+453#/5<4+/5'3/#-%0/530-07'3(+/#/%+#-
3'1035+/)#/&

 *'3')+453#/5<405*'3%'35+(:+/)0((+%'34#/&*#7'&+4%-04'&$#4'&0/063.0453'%'/5'7#-6#5+0/0(+/5'3/#-
%0/530-07'3(+/#/%+#-3'1035+/)505*'3')+453#/5<4#6&+5034#/&5*'#6&+5%0..+55''0(5*'3')+453#/5<4$0#3&0(&+3'%503403
1'340/41'3(03.+/)5*''26+7#-'/5(6/%5+0/4
#--4+)/+(+%#/5&'(+%+'/%+'4#/&.#5'3+#-8'#,/'44'4+/5*'&'4+)/0301'3#5+0/0(+/5'3/#-%0/530-07'3(+/#/%+#-
3'1035+/)8*+%*#3'3'#40/#$-:-+,'-:50#&7'34'-:#(('%55*'3')+453#/5<4#$+-+5:503'%03&130%'4446..#3+;'#/&3'1035
(+/#/%+#-+/(03.#5+0/#/&
$/:(3#6&8*'5*'303/05.#5'3+#-5*#5+/70-7'4.#/#)'.'/50305*'3'.1-0:''48*0*#7'#4+)/+(+%#/530-'+/
5*'3')+453#/5<4+/5'3/#-%0/530-07'3(+/#/%+#-3'1035+/)
4 "
 *0.#4;-04',
9'%65+7'!+%'3'4+&'/5#/&*+'(+/#/%+#-((+%'3
#5''$36#3:	




9*+$+5
	



	









/%0//'%5+0/8+5*5*'//6#-'10350/03.	0(650#5+0//%5*';0.1#/:<(035*':'#3'/&'&
'%'.$'3	

#4(+-'&8+5*5*'!  '%63+5+'4#/&9%*#/)'0..+44+0/5*';'1035<+%*#'-#/-':*+'(
9'%65+7'((+%'30(5*'0.1#/:*'3'$:%'35+(:16346#/550	!  '%5+0/	
#4#&015'&16346#/550 '%5+0/
0(5*' #3$#/'49-':%50(

5*#550.:,/08-'&)'
	5*''1035(6--:%0.1-+'48+5*5*'3'26+3'.'/540( '%5+0/	#03	
&0(5*' '%63+5+'49%*#/)'%50(	#4
#.'/&'&#/&

5*'+/(03.#5+0/%0/5#+/'&+/5*''1035(#+3-:13'4'/54+/#--.#5'3+#-3'41'%545*'(+/#/%+#-%0/&+5+0/#/&3'46-540(
01'3#5+0/40(5*'0.1#/:
 "
+%*#'-#/-':
*+'(9'%65+7'((+%'3#/&+3'%503
'$36#3:	




<-.'.8




	









2(322*(8.32;.8-8-*229&0 *436832361	3+983&8.322(8-*?314&2=@+368-*=*&6*2)*)
*(*1'*6	

&7+.0*);.8-8-*#!!*(96.8.*7&2)<(-&2,*311.77.328-*? *4368@"-31&7!>037*/
<*(98.:*$.(*6*7.)*28&2)-.*+.2&2(.&0++.(*63+8-*314&2=-*6*'=(*68.+=49679&2883	#!!*(8.32	

&7&)348*)49679&2883!*(8.323+8-*!&6'&2*7<0*=(83+

8-&8831=/23;0*),*
	8-* *4368+900=(3140.*7;.8-8-*6*59.6*1*2873+!*(8.32	&36	
)3+8-*!*(96.8.*7<(-&2,*(83+	&7
&1*2)*)&2)

8-*.2+361&8.32(328&.2*).28-* *4368+&.60=46*7*287.2&001&8*6.&06*74*(878-*+.2&2(.&0(32).8.32&2)6*790873+
34*6&8.3273+8-*314&2=
7"!!%!
"-31&7!>037*/
<*(98.:*$.(*6*7.)*28&2)-.*+.2&2(.&0++.(*6
*'69&6=	





AUTONATION HEADQUARTERS
200 SW 1st Ave
Fort Lauderdale, Florida 33301
Telephone: (954) 769-6000
www.AutoNation.com
INVESTOR CONTACT
Stockholders, securities analysts, portfolio managers, and 
representatives of financial institutions requesting copies of the 
Annual Report, Form 10-K, quarterly reports, and other corporate 
literature should call (954) 769-2227 or write AutoNation, Inc., 
Investor Relations, at the above address.
ANNUAL MEETING
The Annual Meeting of Stockholders of AutoNation, Inc.  
will be held virtually at 8:00 a.m. Eastern Time,  
Wednesday, April 23, 2025 at:
www.virtualshareholdermeeting.com/AN2025
COMMON STOCK INFORMATION
The Company’s common stock trades on the New York Stock 
Exchange (NYSE) under the symbol “AN.”
TRANSFER AGENT
For inquiries regarding address changes, stock transfers,  
lost shares, or other account matters, please contact:
Computershare Investor Services
PO Box 43006
Providence, RI 02940-3006
(800) 689-5259 
http://www.computershare.com
INDEPENDENT REGISTERED  
PUBLIC ACCOUNTING FIRM
KPMG LLP, Fort Lauderdale, Florida
FORWARD-LOOKING STATEMENTS
This Annual Report contains “forward-looking statements“ 
as defined under federal securities laws. Our forward-looking 
statements reflect our current expectations concerning 
future results, and they involve known and unknown risks, 
uncertainties, and other factors that are difficult to predict and 
may cause our actual results to be materially different from any 
future results expressed or implied by these statements. Risk 
factors that could cause actual results to be materially different 
are set forth in the “Risk Factors“ section and throughout 
our Form 10-K. We undertake no duty to update or revise 
our forward-looking statements, whether as a result of new 
information, future events, or otherwise.
www.AutoNation.com
Corporate Information
BOARD OF DIRECTORS
Michael Manley
Chief Executive Officer and Director,
AutoNation, Inc. 
Rick L. Burdick 1
Chairman of the Board,
AutoNation, Inc. 
Claire Bennett 2
Director,  
AutoNation, Inc.
David B. Edelson 2
Managing Director,  
Bain Capital
Robert R. Grusky 3 
Founder and Managing Member,  
Hope Capital Management, LLC
Norman K. Jenkins 1 
President and Chief Executive Officer,  
Capstone Development
Lisa Lutoff-Perlo 2, 3
Director,  
AutoNation, Inc.
G. Mike Mikan 1
Vice Chairman, President and Chief Executive Officer,
NeueHealth, Inc.
Jacqueline A. Travisano, Ed.D. 3
Executive Vice President & Chief Operating Officer, 
Wake Forest University
EXECUTIVE OFFICERS
Michael Manley
Chief Executive Officer and Director
Thomas A. Szlosek
Executive Vice President and Chief Financial Officer
Gianluca Camplone
COO AutoNation Parts, and EVP Business Development
C. Coleman Edmunds
Executive Vice President, General Counsel and  
Corporate Secretary
Lisa Esparza
Executive Vice President and Chief Human Resource Officer
Dave Koehler
Chief Operating Officer, Non-Franchised Business
Jeff Parent
Chief Operating Officer
1  Member of Compensation Committee
2 Member of Audit Committee
3 Member of Corporate Governance and Nominating Committee
AutoNation. 

AutoNation.com
What Drives You, Drives Us.
AutoNation.