manual de sonorización en directo carles p mas

205

Upload: aptaeex-extremadura

Post on 07-Aug-2015

9.758 views

Category:

Documents


48 download

TRANSCRIPT

MANUAL DE SONORIZACIÓN EN DIRECTO

Carles P. Mas ISBN: 84-930813-0-2

Presentación: La primera edición de este libro en papel se presentó a finales del año 1999, iniciándose su

distribución en Enero del año 2000. Al cabo de pocos meses se agotaron todos los ejemplares, pero no fue posible hacer una segunda edición ya que la empresa editora –Música y Tecnología, S.L.- había cerrado sus puertas a mediados del mismo año.

La insistencia de varios antiguos alumnos míos, y la constatación de que aún hoy no existen libros en castellano que muestren de forma clara como funciona el sonido en vivo, me han movido a digitalizar todo el contenido del libro original para que quien lo desee cuente con este ejemplar en formato de papel o bien digital.

Al revisar mis escritos, al cabo de una década larga, he podido constatar que casi todos los temas expuestos son perfectamente aplicables a las instalaciones de sonido en directo que hoy se realizan; esto significa que los conocimientos técnicos que se muestran en este libro son hoy tan válidos como ayer.

Pero para llegar a ser hoy un buen técnico de sonido en vivo, es preciso tener presente algunos aspectos que la tecnología ha incorporado en los últimos diez años, y que por razones evidentes no se comentan en esta edición.

La amplificación en clase D, las mangueras multicanal de fibra óptica, los auriculares de monitor sin cable, los controladores para mezclas digitales, los sistemas de altavoces con dispersión lineal, los plug-ins de efectos, son sólo algunas de las novedades que se han incorporado en los últimos años al mundo del sonido en vivo. Aquel que dese extraer un buen sonido de su equipo debería estar al día de aquellas novedades técnicas que le permitan obtener los mejores resultados.

Dicho esto, quede patente que la comprensión clara de los conceptos que aparecen en este “Manual de Sonorización en directo” es sencillamente imprescindible para obtener un resultado óptimo al montar cualquier sistema de amplificación en directo.

Deseo que este libro os sea de utilidad en vuestro trabajo, uno de los oficios –no lo dudes- más hermosos que existen, ya que nuestra labor permite que la música o las palabras emocionen en directo con fuerza y limpieza a miles de personas; casi nada.....

Carles P. Mas Tecnico Superior de Sonido por la UPC y el Institut del Teatre (Barcelona)

Capítulo 1. Física del Sonido: Naturaleza de las ondas sonoras .......................................... 9 Como avanzan las ondas sonoras ........................................ 9 Período, Longitud y Frecuencia ............................................10 Velocidad de propagación ....................................................11 Relación entre velocidad, frecuencia y longitud ....................11 Las ondas rebotan y rodean obstáculos ...............................12 Interferéncia y Fase del sonido .............................................13 Intensidad, Tono y Timbre ...................................................14 Armónicos ............................................................................ 17 Vibraciones de placas de membranas ................................ .18 Las Frecuencias musicales ..................................................19 Directividad de las fuentes de sonido ...................................19 El Decibelio. Definición .........................................................21 Niveles absolutos y relativos ................................................23 Nivel de señal en decibelios .................................................23 Relación entre dBV, dBu y dBm ............................................24 Niveles de potencia en decibelios .........................................24 Estensión Dinámica ..............................................................25 Capítulo 2. Acústica musical: Sensibilidad del Oído .............................................................27 Relación Intensidad-Sonoridad ..............................................27 Relación entre tonos musicales .............................................28 Consonancia y disonancia .....................................................29 Enmascaramiento ..................................................................30 El Timbre musical ..................................................................30 Octavas musicales ................................................................ 31 Tesituras y Armónicos ...........................................................32 Estereofonía ..........................................................................32 Reflexión y difracción del sonido ...........................................32 La absorción acústica ...........................................................34 Coeficientes de absorción .....................................................35 La Reverberación ..................................................................36 Medir la reverberación ..........................................................36 Protección auditiva ................................................................38

Capítulo 3. Microfonía: Transductores .......................................................................41 Cadena básica de amplificación sonora ................................42 Características direccionales ................................................42 Elegir un micrófono según su directividad ............................ 45 Micrófonos dinámicos ........................................................... 46 Micrófonos de carbón y cerámicos ....................................... 47 Micrófonos de cinta .............................................................. 49 Micrófonos de condensador ................................................. 50 Micrófonos electret ............................................................... 51 Micrófonos especiales ......................................................... 52 La alimentación “Phantom” .................................................. 54 Características electrónicas ................................................. 55 Líneas balanceadas ..............................................................55 Cableado y conexiones ........................................................ 56 Micrófonos de características variables ............................... .57 Sistemas de microfonía inalámbrica ..................................... 57 Problemática de la microfonía inalámbrica .......................... .58 Datos orientativos para escoger un micrófono ..................... .59 Algunos micrófonos de frecuente utilización ........................ .60 Capítulo 4. Especificaciones técnicas: Respuesta en frecuencia ...................................................... 66 Relación señal-audio ............................................................ 68 Distorsión armónica ............................................................. .68 Distorsión por intermodulación ............................................ .69 Impedancias de entrada y salida ......................................... .69 Niveles operativos de la señal audio ................................... .71 Interferencia por cruce ........................................................ .72 Ruido blanco y ruido rosa .................................................... 73 Símbolos de componentes ................................................. 74 Diagrama de bloques .......................................................... 75 Capítulo 5. Los Amplificadores: Ecuaciones fundamentales. Ley de Ohm ............................ .79 Amplificación de tensión y de potencia .................................80 Nivel de señal y potencia en el amplificador ......................... 81 Respuesta a señales transitorias .......................................... 81 El amplificador operando en puente ......................................82 El factor de amortiguación .....................................................83 Relación entre potencia y dB SPL ........................................ 83 Especificaciones de potencia en los amplificadores ..............84 Válvulas, Transistores, Mosfet ............................................. .84 Controlando la Impedancia ................................................... 86 Escoger un combo .................................................................87 Escoger una etapa de potencia .............................................90 Capítulo 6. Mesas de mezclas: Fuentes de alimentación .......................................................92 Variedades de mesas de mezcla ..........................................93 Los mezcladores ...................................................................94 Módulo de entrada ................................................................95 Módulo Master ......................................................................97

Módulo de Subgrupo ............................................................. 97 Módulo de salida / monitor .................................................... 97 Especificaciones de una mesa de mezclas ........................... 97 “Headroom” (techo dinámico) ............................................... 99 Indicadores de nivel ..............................................................100 Amplificadores operacionales ...............................................100 Mesas automatizadas ...........................................................101 Ecualizador desde la mesa ...................................................102 Ampliando las entradas de una mesa ...................................103 Mesas para el control en escenario ......................................105 Situación de la mesa en un directo .......................................107 Como escoger una mesa de mezclas ...................................108 Capítulo 7. Los Altavoces: Altavoces electrodinámicos ...................................................110 Altavoces piezoeléctricos y de condensador .........................111 Como trabaja el altavoz electrodinámico ...............................112 Altavoces para bajas frecuencias ..........................................112 Altavoces para altas frecuencias ...........................................113 Altavoces para frecuencias medias .......................................115 Filtros de frecuencia ..............................................................115 Filtros pasivos de alto nivel ...................................................116 Filtros activos de bajo nivel ...................................................117 Especificaciones técnicas de los altavoces ...........................118 Conexionado entre altavoces ................................................122 Problemas en los altavoces ..................................................123 Problemas debidos a otros componentes .............................123 Las cajas acústicas. El cortocircuito acústico .......................124 Recinto compacto .................................................................124 Recinto “bass reflex” .............................................................125 Recinto con laberinto ............................................................125 Capítulo 8. Procesadores de la señal audio: Ecualizadores y filtros ............................................................127 Controles de tono ...................................................................128 Filtros activos y pasivos ..........................................................128 Filtros pasa-altos y filtros pasa-bajos ......................................129 Ecualizadores gráficos ............................................................130 Ecualizadores paramétricos ....................................................131 El lugar del ecualizador ..........................................................133 Utilización práctica del ecualizador gráfico .............................133 Compresores y Limitadores ....................................................134 Utilización del compresor / limitador .......................................136 Aplicaciones prácticas del compresor / limitador .....................137 Excitadores .............................................................................137 Puertas de ruido y expansores ...............................................138 Aplicaciones de puertas de ruido y expansores ......................140 Unidades de reverberación .....................................................141 Sistemas de reverberación analógica .....................................141 Unidades de reverberación digital ..........................................143 Aplicaciones de las unidades de reverberación ......................144 Unidades de retardo ...............................................................144 Efectos digitales .....................................................................145 Capítulo 9. Montaje práctico de un Directo: Arquitectura de sistemas de potencia ......................................150 Niveles de los circuitos ............................................................151

Sistemas de potencia para la amplificación musical ................151 Cajas de conexionado .............................................................154 El cableado ..............................................................................156 Cables multifilares (Mangueras) ..............................................159 Conectores ..............................................................................159 Utilidad práctica del crossover .................................................161 Puntos de corte y relaciones entre grupos de frecuencias .......161 Control direccional de los altavoces ........................................163 Altavoces de refuerzo ..............................................................165 Tomas de tierra ....................................................................... 167 Conexión a red ........................................................................168 Técnicas de captación microfónica ......................................... 169 Capítulo 10. El sonido en exteriores: Disminución de la intensidad sonora con la distancia ..............173 Efecto del ruido ambiente ........................................................174 Cobertura sonora y control acústico ........................................174 Extensión dinámica de un sistema de potencia .......................176 Los factores atmosféricos ........................................................177 Situación de las cajas acústicas ..............................................178 Conexionado entre etapas y cajas ...........................................179 Control de la realimentación exterior .......................................180 Calibración y equilibrado de un sistema ..................................181 Capítulo 11. El sonido en interiores: Reflexión y reverberación sonora en recintos ..........................184 Control de la reverberación ......................................................185 Distancia crítica ....................................................................... 185 El control en respuesta tonal ....................................................186 Las ondas estacionarias ...........................................................188 Frecuencia de resonancia de un recinto ...................................188 Colocación de las cajas acústicas ............................................189 Tipos de monitores ...................................................................189 Sistemas para suprimir la realimentación en escenario ............190 Capítulo 12. Mejorando el rendimiento de un Directo: Arquitectura del monitoraje .......................................................193 Comprobación de las polaridades .............................................194 Eliminar ruidos inducidos ..........................................................195 Control de niveles en las mesas de mezcla ..............................196 Control de difusión en los altavoces .........................................197 Los sistemas de potencia procesados ......................................198 Aplicaciones del procesado a diversos instrumentos ............... 200 Ejemplos de instalaciones reales ............................................. 201

�� %�������������� �

&�,-*�$�2�����$�+�'&��+�+'&'*�++<�F8�C<78�4�HA4�C8EFBA4�DH8�@H8I4�HA4�6H8E74�78F78�HA�8KGE8@B��@<8AGE4F�8?�BGEB�C8E@4A868�FH=8GB��L�F8GB@4� HA4� 9BGB:E49W4� 78?�@BI<@<8AGB�� F8� B5G8A7EU� ?4� <@4:8A� 78� HA4� 9BE@4� BA7H?474� �9<:HE4� ?��� VFG4� 8F� ?4<@4:8A� 78� HA4� BA74� 8A� HA�@B@8AGB� 78G8E@<A47B� �A�8??4� F8� I8� 6B@B� ?4� 6H8E74� F8� ;4�BA7H?47B�� L� FHF7<FG<AG4F�C4EG8F�F8�@H8I8A�78�4EE<54�4�454=B��8A�HA�F8AG<7B�H�BGEB

+HCBA:4@BF�DH8�F8� GB@4�BGE4� 9BGB�4?�645B�78�HA�F8:HA7B�$4�BA74�F8�;45EU�@BI<7B�4� ?4�CBF<6<ZA�78� ?49<:HE4� 5�� C8EB� ?4� ?BA:<GH7� 78� BA74� ��� F8:H<EU� F<8A7B� ?4�@<F@4� $4� 64E46G8EWFG<64� 78� ?4F� BA74F� 8F� DH84HADH8�4I4A68A�78�<MDH<8E74�4�78E86;4�CBE�?4�6H8E74��VFG4�AB�F8�@H8I8�6BA�8??4F��?B�[A<6B�DH8�F8�@H8I8�L?B�DH8�??4@4@BF�BA74�8F�?4�9BE@4�78�?4�6H8E74�DH8�64@5<4��CBE�?B�6HU?�?BF�C<6BF�L�?BF�I4??8F�F8�8A6H8AGE4A8A�F<G<BF�7<FG<AGBF+<�F8�FHC8ECBA8A�?4F�7BF�9<:HE4F�B5G8A<74F�8A�?4�9BGB:E49W4��9<:HE4����F8�I8�DH8�6474�C4EG8�78�?4�6H8E74�F8;4� @BI<7B� ;46<4� 4EE<54� L� ;46<4� 454=B� 78F78� FH� CBF<6<ZA� 4AG8E<BE�� C8EB� AB� ?4G8E4?@8AG8� �FW� DH8� ABF8A6BAGE4@BF� 6BA� ?4� 6HE<BF4� F<GH46<ZA� 78� DH8� 6474� C4EG8� 78� ?4� 6H8E74� F8� ;4�@BI<7B�;46<4� 4EE<54� L� ;46<4454=B��@<8AGE4F�DH8�?4�BA74�F8�;4�78FC?4M47B�?4G8E4?@8AG8+<�8A�HA�@87<B�8?UFG<6B 6B@B�8?�4<E8�B�8?�4:H4�HA�CHAGB�8@C<8M4�4�I<5E4E��4EE4FGE4�8A�FH�I<5E46<ZA�4� ?BFCHAGBF�CEZK<@BF�DH8�4�FH�I8M�GE4AF@<G8A�4�?BF�6BAG<:HBF��FG4�CEBC4:46<ZA�78?�@BI<@<8AGB�I<5E4GBE<B�E86<588?�AB@5E8�78�@BI<@<8AGB�BA7H?4GBE<B+<�CBE�6H4?DH<8E�@87<B�F8�BE<:<A4�HA4 I<5E46<ZA�8A�8?�4<E8�F8�CEB7H68�HA�FBA<7B��F<8@CE8�DH8�?4�9E86H8A6<4�78?4�I<5E46<ZA�F8�8A6H8AGE8�78AGEB�78�?BF�?W@<G8F�64C468F�78�64HF4E�HA4�<@CE8F<ZA�8A�8?�BW7B��8�;86;B��?B�DH878AB@<A4@BF ����� 8F�?4�9BE@4�8A�DH8�C8E6<5<@BF�8FG4F�I<5E46<BA8F

$4� I<5E46<ZA� 78� HA4� @8@5E4A4�� CBE� 8=8@C?B� 8?� 6BAB� 78� HA4?G4IBM��74�?H:4E�4�HA4�6B@CE8F<ZA�78�?4�@4F4�78?�4<E8�DH8�8F8@CH=474�CBE�?4�@8@5E4A4��L�4�HA4�E4E<9<646<ZA�B�I46WB�8A�8?@<F@B�@87<B�6H4A7B�?4��@8@5E4A4�F8�78FC?4M4�;46<4�4GEUF+H68F<I4@8AG8��6474�@B?V6H?4�78�4<E8�4986G474�6B@HA<64�FH@BI<@<8AGB� 4� ?4� @B?V6H?4� 47L468AG8�� L� ?4� I<5E46<ZA� F8CEBC4:4�� 4@BEG<:HUA7BF8� 6BA� ?4� 7<FG4A6<4� 4� 64HF4� 78� ?4CVE7<74�8A8E:VG<64�64HF474�CBE�8?�6BAG<AHB�EBM4@<8AGB�78�?4F@B?V6H?4F�8A�@BI<@<8AGB�A�?4�9<:HE4���F8�@H8FGE4�?4 CEB7H66<ZA�78�HA�FBA<7B�6H4A7B8?�6BAB�78�64EGZA�78�HA�4?G4IBM�F8�CBA8�4�I<5E4E

�'%'��.�&2�&�$�+�'&��+�+'&'*�++HCBA:4@BF�DH8�??8A4@BF�HA�G4ADH8�E86G4A:H?4E�6BA�4:H4��LDH8� F8� � 6H8AG4� 6BA� HA� @BGBE� 78� I8?B6<747� E8:H?45?8� C4E4CB78E�6E84E�BA74F�8A ?4�FHC8E9<6<8�78?�4:H4+<�F8�GB64�?4�FHC8E9<6<8�HA4�FB?4�I8M�6BA�HA�?UC<M��8?�GE4M47B�78?4� BA74� GB@4EU� ?4� 9BE@4� <A7<6474� 8A� ?4� 9<:HE4� �� �BA9BE@8C4F8�8?�G<8@CB��?4�BA74�4I4AM4�78F78�8?�CHAGB�7BA78�F8�<A<6<Z4�I8?B6<747� �6BAFG4AG8��C8EB�FH� 9H8EM4��8?�FHE6B�DH8�CEBIB648A�8?�4:H4��7<F@<AHL8

+<�F8�HA8�8?�?UC<M�6BA�8?�@BGBE��4=HFGUA7B?B�C4E4�DH8�GBDH8�?4�FHC8E9<6<8�4�<AG8EI4?BF�E8:H?4E8F��F8�B5G8A7EUHA4�6BEE<8AG8�78�BA74F�6<E6H?4E8F��G4?�6B@B�4C4E868�8A�?4�9<:HE4��

-A<8A7B�HA4�54EE4�4?�@BGBE�8?�GE4M47B�78�?4F�BA74F�8F�6B@B�4C4E868�8A�?4�9<:HE4��4��G<8A8A�?4�@<F@4�9BE@4E86G4�DH8�?4�54EE4�DH8�?4F�;4�9BE@47B�L�8K<FG8�8AGE8�8??4F�<7VAG<64�F8C4E46<ZA

�+<�F8�468?8E4�?4�I8?B6<747�78?�@BGBE��9<:��5��?4F�BA74F�I<4=4A�4�?4�@<F@4�I8?B6<747�DH8�?B�;46W4A�4AG8F��L4DH8�8?�@87<B�8F�8?�@<F@B��C8EB�8?�A[@8EB�78�BA74F��?4�9E86H8A6<4��8F�@4LBE��8FGB�CEB7H6<EU�HA4�7<FG4A6<48AGE8�?4F�BA74F�@UF�E87H6<74��8FG4EUA�@UF�CEZK<@4F�8AGE8�FW

(�*Q'�'��$'& ",-��1��*��-�&�"�+<� 4� HA4� 6<8EG4� 7<FG4A6<4� 78� ?4� @8@5E4A4 78� HA� 4?G4IBM� DH8� I<5E8� 78� HA4� 9BE@4� E8:H?4E� F8� 6B?B64� HA:4?I4AZ@8GEB��64C4M�78�@8FHE4E�?4F�I4E<46<BA8F�78�?4�CE8F<ZA�4G@BF9VE<64��78�9BE@4�DH8�FH�4:H=4��<A7<64EU8?�68EB�C4E4�?4�CE8F<ZA�ABE@4?�8A�4HF8A6<4�78�I<5E46<BA8F��F8�B5F8EI4EU�?B�F<:H<8AG8���?�I<5E4E�?4�@8@5E4A48?�4C4E4GB�ABF� <A7<64EU�HA�4H@8AGB�78�CE8F<ZA�8A�8?� <AFG4AG8�4�78� ?4� 9<:HE4�����8A�8?� <AFG4AG8�5� ?4�4:H=4IB?I8EU�4�68EB��8A�8?�<AFG4AG8�6�6BEE8FCBA7<8AG8�4�HA4�78CE8F<ZA�B�E4E<9<646<ZA�78?�4<E8�E8:<FGE4EU�HA4�54=47478�?4�CE8F<ZA��E8:E8F4A7B�78�AH8IB�4�68EB�8A�7�L�E8C<G<8A7B�GB7B�8?�6<6?B�;4FG4�DH8�68F8�?4�I<5E46<ZA�8A�?4@8@5E4A4�78?�4?G4IBM$BA:<GH7�78�BA74�8F�?4�7<FG4A6<4�DH8�E86BEE8�HA4�BA74�C4E4�6B@C?8G4E�HA�6<6?B��B�5<8A�?4�7<FG4A6<4�8AGE8�7BFMBA4F� 78?� 4<E8� DH8� F8� 8A6H8AGE4A� 8A� <7VAG<64� CBF<6<ZA� E8FC86GB� 4� ?4� 6HEI4� F<AHFB<78� DH8� E8CE8F8AG4� FH@BI<@<8AGB��9<:�����.B?I<8A7B�4?�8=8@C?B�78�?4�9<:HE4����?4�?BA:<GH7�78�BA74�F8EU�?4�7<FG4A6<4�8K<FG8AG8�8AGE8HA4�BA74�L�?4�DH8�I<8A8�78GEUF��78�9BE@4�DH8�?4�?BA:<GH7�78�BA74�78�?4�9<:HE4����F8EU�@4LBE�DH8�?4�78�?49<:HE4��5�(8EWB7B�8F�8?�G<8@CB�DH8�G4E74�HA4�BA74�8A�E84?<M4E�HA�6<6?B�6B@C?8GB��L�F8�E8CE8F8AG4�CBE�@87<B78?�F<:AB�,

�E86H8A6<4� 8F� 8?� A[@8EB� 78� I<5E46<BA8F� DH8� G<8A8� HA4� BA74� 6474� F8:HA7B�� 7<6;B� 78� BGE4� 9BE@4�� 8F� 8?A[@8EB�78�BF6<?46<BA8F�6B@C?8G4F��45678��DH8�8KC8E<@8AG4EU�8?�@4AZ@8GEB�78�?4�9<:HE4����8A�HA�F8:HA7B78� G<8@CB� $4� HA<747� 78� @87<74� 78� ?4� 9E86H8A6<4� 8F� 8?� !8EGM� B� 6<6?B� CBE� F8:HA7B� �H4AGB�@4LBE� 8F� ?49E86H8A6<4�78�HA�FBA<7B��@UF�4:H7B�F8�C8E6<58��L�6H4AGB @8ABE�8F�?4�9E86H8A6<4�@UF�:E4I8�8F�8FG8�FBA<7B�G8A7<8A7B�4�8FG4F�64E46G8EWFG<64F��?BF�FBA<7BF�F8�6?4F<9<64A�8A�:E4I8F�6H4A7B�FH�9E86H8A6<4�8FGU�8AGE8�?BF ��L� ?BF�����!M��8A�@87<BF�6H4A7B� ?4� 9E86H8A6<4�8FGU�F<GH474� �8AGE8� ?BF�����L� ?BF� ����!M��L�8A�4:H7BF6H4A7B�FH�9E86H8A6<4�8FGU�8AGE8�?BF� ����L�?B�������!M$4F�I<5E46<BA8F�DH8�F8�;4??4A�CBE�7854=B�78�?BF� ��!M�AB�FBA�C8E6<5<74F�CBE�AH8FGEBF�BW7BF��L�F8�78AB@<A4A<A9E4FZA<64F��@<8AGE4F�DH8�?4F�DH8�FH�9E86H8A6<4�FB5E8C4F4�?BF�������!M�E86<58A�8?�AB@5E8�78�H?GE4FZA<64F�L�G4@CB6B�FBA�C8E6<5<74F�CBE�8?�BW7B�;H@4AB

.�$'�"�������(*'(� ��"T&$4�I8?B6<747�78�CEBC4:46<ZA�78?�FBA<7B�78C8A78�78?�@87<B�7BA78�VFG8�F8�BE<:<A4��L�78�6<8EG4F�6BA7<6<BA8F<A;8E8AG8F�4?�@<F@B��6B@B�FBA�?4�G8@C8E4GHE4�L�?4�78AF<747�H4?DH<8E4� DH8� F84� ?4� 9E86H8A6<4� 78� HA� FBA<7B�� I<4=4EU� CBE� 8?� 4<E8� 4� HA4� I8?B6<747� 78� ������@8GEBF� CBEF8:HA7B�4� ?4�CE8F<ZA�4G@BF9VE<64�ABE@4?������@5��L�4����:E47BF�78�G8@C8E4GHE4�+<� ?4� G8@C8E4GHE4�8F�7868EB�:E47BF�?4�I8?B6<747�78�CEBC4:46<ZA�F8EU�78��� ���@GF�F:��8F�786<E��DH8�F8�E87H68�F8:[A�?4�G8@C8E4GHE44�E4MZA�78����6@F�CBE�6474�:E47B�68AGW:E47B�@8ABF�A�8?�4:H4�7H?68�8?�FBA<7B�I<4=4�4� ����@8GEBF�CBE�F8:HA7B��@<8AGE4F�DH8�8A�8?�4:H4�F4?474�?B�;468�4� ���@8GEBF�CBE�F8:HA7B��A�4@5BF�64FBF�F8�FHCBA8�HA4�G8@C8E4GHE4�78� ��:E47BF$4� I8?B6<747� 78� CEBC4:46<ZA� 78?� FBA<7B� CH878� 6BAF<78E4EF8� 6B@B� C8E@4A8AG8�� 6H4?DH<8E4� DH8� F84� ?4<AG8AF<747�B�?4�9E86H8A6<4�78?�@<F@B��4HADH8�78�;86;B�?4F�9E86H8A6<4F�4?G4F�F8�78FC?468A�4?:B�@UF�78CE<F4�AB�;468�94?G4�G8A8E?B�8A�6H8AG4�C4E4�;468E�6H4?DH<8E�@87<6<ZA�B�6U?6H?B

*�$��"T&��&,*��.�$'�"������*��-�&�"��1�$'& ",-��?��$'& ",-�����'&�����A�HA<7478F�78�?BA:<GH7��.��.�$'�"�������(*'(� ��"T&��$BA:<GH7�,<8@CB������*��-�&�"����A�!8EGM����<6?BF�F8:HA7B��,��(�*Q'�'��"AG8EI4?B�6BAFG4AG8�78�G<8@CB��?�C8EWB7B�78�HA4�BA74�8F�<AI8EFB�4�FH�9E86H8A6<4�(BE�8=8@C?B��F458@BF�DH8�HA4�BA74�FBABE4�G<8A8�HA49E86H8A6<4�78����!M��8F��786<E��DH8�E84?<M4����6<6?BF�6474�F8:HA7B��N)HV�C8EWB7B�G<8A8�8FG4�BA74���B@B�?49E86H8A6<4�8F�8?�A[@8EB�78�I868F�DH8�F8�E8C<G8�?4�GE4L86GBE<4�8A�HA<747�78�G<8@CB�

,���<AI8EFB�78�?4�9E86H8A6<4��� ����78�F8:HA7B

+H� C8EWB7B� F8EU� ���� F8:HA7B� $4� E8?46<ZA� 8AGE8� I8?B6<747�� ?BA:<GH7� 78� BA74� L� 9E86H8A6<4� F8� 8KCE8F4@87<4AG8�?4F�9ZE@H?4F��8��8FC46<B� �

.����,��G<8@CB������8���,����8���

$BA:<GH7�78�BA74���.8?B6<747�78�CEBC4:46<ZA��E86H8A6<4

�FW�CBE�8=8@C?B��?4�?BA:<GH7�78�BA74�78�HA�FBA<7B�6BA�HA4�9E86H8A6<4�78����!M�F8EU�78�

?�������@GF�F:������6<6?BF�F:��������@GF

$�+�'&��+�*��',�&�1�*'���&�'�+,O�-$'+.B?I<8A7B� 4?� G4ADH8� 78� 4:H4�� F<� ?4� 54EE4� GB64� HA4� I8M� ?4� FHC8E9<6<8� F8� B5G8A7EU� HA4� BA74� E86G4� DH8� F878FC?4M4�L�6HL4�GE4L86GBE<4�F8�CH878�F8:H<E�6BA�946<?<747���<:HE4�����$4�BA74�6;B64EU�6BA�?4�54EE8E4�E86G4DH8� F8� ;4� 6B?B647B� 4� ?4� 78E86;4�� L� 6B@B� CB7W4� 8FC8E4EF8�� ?BF� UA:H?BF� 8AGE8� ?4� 54EE8E4� L� ?4� BA74� �G4AGB6H4A7B�<A6<78�6B@B�6H4A7B�E85BG4��FBA�<:H4?8F+<�F8�6BA86G4�8?�@BGBE��?4�7<FCBF<6<ZA�8F�@UF�6B@C?8=4��6BA�7BF�6BA=HAGBF�78�BA74F��HA4F�DH8�F8�4CEBK<@4A4�?4�54EE8E4�L�BGE4F�DH8 ?4�454A7BA4A�78FCHVF�78�E85BG4E���<:����

�H4A7B�F8�CEB7H68�HA�CH?FB�78� 9BE@4�6<E6H?4E�� 6474�C4EG8�78� ?4�BA74� E85BG4�8A� ?4�54EE8E4�6BA�8?�@<F@BUA:H?B�6BA�DH8� ??8:Z��C8EB�FH�68AGEB�8FGU�8A�4?:[A�CHAGB�CBE�78GEUF� ��<:�����8FGB�F<:A<9<64� �DH8�8?�68AGEBI<EGH4?�78�?4�BA74�E85BG474�AB�6B<A6<78�6BA�8?�68AGEB�78�?4�BA74�BE<:<A4?�+HCBA<8A7B�DH8�F8�GE4G4E4�78�BA74FFBABE4F��L�78�DH8�;H5<8E4�HA�BL8AG8�8F6H6;4A7B�8A� ?4�C4EG8�FHC8E<BE�78?�6H47EB��VFG8�G8A7EW4�7<9<6H?G478FC4E4�7<F68EA<E�78�7BA78�?8�CEBI<8A8�8?�FBA<7B��7BA78�8FGU�8?�BE<:8A��F<�5<8A�E86<5<EU�CE<@8EB�8?�<@C46GB�FBABEB78�?4�BA74����6BEE8FCBA7<8AG8�4?�FBA<7B�7<E86GB��L�?H8:B�8?�78�?4�BA74����FBA<7B�E89?8=47B�

+<� ;468@BF� I<5E4E� ?4� 54EE4� 6BA� 8?� @BGBE�� 78� @4A8E4� DH8� HA� 5H8A� A[@8EB� 78� BA74F� <A6<74A� 8A� 4?:[AB5FGU6H?B�6B?B647B�8A�FH�64@<AB��8?�E8FH?G47B�F8EU�C4E86<7B�4?�DH8�4C4E868�8FDH8@4G<M47B�8A�?4�9<:HE4� �$4F�BA74F� E84C4E868A� 6?4E4@8AG8� 78AGEB� 78� ?B�DH8�7858EW4�F8E�HA�UE84�FB@5E8474�� ??8:4A7B�4�4C4E868E6B@C?8G4F�4�6<8EG4�7<FG4A6<4�78?�B5FGU6H?B��4HADH8�4?:B�785<?<G474F�$4�?BA:<GH7�78�BA74�AB�I4EW4�8A�A<A:[A64FB

+<� F8�8@C?84�HA�B5FGU6H?B�78�7<FG<AGB� G4@4YB�� L� F8�I4EW4� ?4� ?BA:<GH7�78�BA74�64@5<4A7B� ?4� I8?B6<747�78?@BGBE�� F8� CEB7H6<EUA�4?:HABF� 64@5<BF� <AG8E8F4AG8F� ��<:� �� $4�@4:A<GH7� 6EH6<4?� DH8�78G8E@<A4�6B@B� ?4BA74�I4�4� EB784E�8?�B5FGU6H?B�8F�8?� G4@4YB�78?�B5FGU6H?B�6B@C4E47B�6BA� ?4� ?BA:<GH7�78�BA74�$4F�BA74F?4E:4F� EB784A� 6BA� 946<?<747� ?BF� C8DH8YBF� B5FGU6H?BF�� @<8AGE4F� ?4F� BA74F� 6BEG4F� AB� CH878A� EB784E� ?BFB5FGU6H?BF�@4LBE8F��L�8A�@H6;BF�64FBF�G4@CB6B�?BF�C8DH8YBF�FG8�8986GB�8F�@HL�6?4EB�8A�8?�64FB�78� ?4F�BA74F�78�E47<B��C4E4�BA74F�78� ����@8GEBF� ?BF�87<9<6<BF�L� ?4F6B?<A4F�AB�E8CE8F8AG4A�A<A:HA4�7<9<6H?G47��C8EB�?4F�8@<F<BA8F�78�.!� 78�HABF���@8GEBF�AB�CH878A�EB784E9U6<?@8AG8�8FGBF�@<F@BF�B5FGU6H?BF

"&,�*��*�&�"��1���+����$�+'&"�'$4� E8?46<ZA�78� G<8@CB�78�HA4�BA74�FBABE4�6BA�HA� G<8@CB�78� E898E8A6<4�6BAB6<7B�8F�78AB@<A47B� 94F8�788FG4�BA74�$4�94F8�78�HA4�BA74�FBABE4�F8�8KCE8F4�8A�:E47BF��4FW��HA�6<6?B�6B@C?8GB�78��HA4�BA74�F8AB<74?G<8A8�����:E47BF�?�G<8@CB�78�E898E8A6<4�CH878�F8E�8F6B:<7B�78�9BE@4�4E5<GE4E<4��GB@4A7B�HA�<AFG4AG8�6H4?DH<8E4�78?�6<6?B�$49<:HE4� ��E8CE8F8AG4�HA�G<CB�78�F8Y4?�78�4H7<B�78AB@<A47B�BA74�F8AB<74?��DH8�C8EG8A868��4�HA�GBAB�CHEB��8F786<E�HA4�9E86H8A6<4�9HA74@8AG4?�F<A�4E@ZA<6BF

$4� 94F8� 78� 8FG4� BA74� F8AB<74?� 8FGU� E8CE8F8AG474� 8A� 8?� :EU9<6B� 8A� E8?46<ZA� 6BA� HA� G<8@CB� 78� E898E8A6<4??4@47B�,��L�F8�FHCBA8�DH8�6B@<8AM4�8A�6H4?DH<8E�@B@8AGB�8A�DH8�?4�CE8F<ZA�78�?4�BA74��FBABE4�8F�AH?4�DH8�8?�4<E8�CBE�7BA78�GE4AF6HEE8�AB�8FGU�6B@CE<@<7B�A<�E4E<9<647B�A�?4�9<:HE4� ��8FGU�E8CE8F8AG474�HA4�F8Y4?�78�4H7<B�DH8�8AGE4�8A�HA�CEB68F47BE��.�<A��L�GE8F�F8Y4?8F�78?@<F@B�I4?BE�DH8�F4?8A�78�8FG8�CEB68F47BE��.�BHG��$4�94F8�78�?4F�F8Y4?8F�78�F4?<74�F8�GB@4��8A�E8?46<ZA�6BA?4�F8Y4?�78�8AGE474

$4�F4?<74�E8CE8F8AG474�8A�?4�9<:HE4� ���5��8FGU�8A�94F8�6BA�?4�F8Y4?�78�8AGE474��4@54F�G<8A8A�?BF�@B@8AGBF78�6B@CE8F<ZA�L�78�E4E<9<646<ZA�8A�8?�@<F@B�G<8@CB��L�478@UF�6EHM4A�?4�?WA84�78�CE8F<ZA�68EB�4 ?4�I8M$4�F4?<74��6��8FGU�F<GH474�4����:E47BF�9H8E4�78�94F8�E8FC86GB�4�?4�F8Y4?�78�8AGE474��?4�BA74�F8AB<74?�6EHM4�?4?WA84� 78� CE8F<ZA� 68EB� 4?� G<8@CB� DH8� ?4� BA74� 78� 8AGE474� E8:<FGE4� FH� I4?BE�@UK<@B�� 8FG4A7B� 4@54F� 8A� ?4@<F@4�7<E866<ZA�$4�F8Y4?�78�F4?<74 �7��8FGU�4� ���:E47BF�9H8E4�78�?4�94F8�E8FC86GB�4�?4�F8Y4?�78�8AGE474��L4DH8�F<�5<8A�4@54F�F8Y4?8F�6EHM4A�?4� ?WA84�78�CE8F<ZA�68EB�4� ?4�I8M�� ?B�;468A�8A�7<E866<BA8F�BCH8FG4F�+8CEB7H68� HA4� <AG8E98E8A6<4F� 78� FBA<7BF� 6H4A7B� 7BF� BA74F� 7<FG<AG4F� DH8� F8� CEBC4:4A� 8A� 8?� 8FC46<B� F88A6H8AGE4A��L�;468A�I<5E4E�4?�G<8@CB�?4�@<F@4�@4F4�78�4<E8�+<�?4F�9E86H8A6<4F�E8FC86G<I4F�FBA�@HL�7<FG<AG4FF8�B<EUA�?BF�7BF�FBA<7BF�4�?4�I8M�F<A�DH8�F8�<A9?H8A6<8A�@HGH4@8AG8��C8EB�F<�?4�9E86H8A6<4�78�?BF�7BF�FBA<7BF8F�?4�@<F@4��?4�4H7<6<ZA�78C8A78EU�8A�:E4A�@4A8E4�78�?4�94F8�DH8�@4AG8A:4A�8AGE8�F<�8FG4F�BA74F�A�?4�9<:HE4� ��F8�CH878�6B@CEB54E�?4�BA74�E8FH?G4AG8��8A�GE4MB�6BAG<AHB��78�?4�FH@4�78�7BF�BA74F�FBABE4FDH8�CBF88A�?4�@<F@4�9E86H8A6<4��8A�GE4MBF�7<F6BAG<AHBF��C8EB�8A�7<FG<AG4�94F8+<�?4F�BA74F�78�<:H4?�9E86H8A6<4�8FGUA�8A�94F8������8?�E8FH?G47B�8F�HA4�BA74�FBABE4�78�?4�@<F@4�9E86H8A6<46BA�HA4�4@C?<GH7�<:H4?�4�?4�FH@4�78�?4F�7BF�4@C?<GH78F��?B�6H4?�CEBCBE6<BA4�HA4�4H7<6<ZA�@UF�9H8EG8+<� ?4F� 7BF� BA74F� F8� 8A6H8AGE4A� 8A� 6BAGE494F8� ����� ?4� BA74� FBABE4� E8FH?G4AG8� ??8:4� 4� 4AH?4EF8� F<� ?4F� 7BF4@C?<GH78F�FBA�<:H4?8F��8A�6H4?DH<8E�64FB�7<F@<AHL8�?4�<AG8AF<747�78�?4�4H7<6<ZA�785<7B�4�?4��FH@4�78�FHF4@C?<GH78F�E8FC86G<I4F�A�?4�9<:HE4� ������F8�@H8FGE4�8?�78F94F4@<8AGB�6B@CE8A7<7B�8AGE8���L����:E47BF��DH8�CEBCBE6<BA4�HA4�BA74E8FH?G4AG8�78�@4LBE�4@C?<GH7��4HADH8�F<A�??8:4E�4�F8E�?4�FH@4�78�?4F�7BF�4@C?<GH78F�BE<:<A4?8F-A�78F94F4@<8AGB�DH8�8FGV�8AGE8�?BF����L�?BF� ���:E47BF�����E87H68�CEB:E8F<I4@8AG8�?4�4@C?<GH7�78�?4�BA74�L�CBE G4AGB�?4�<AG8AF<747�78�?4�4H7<6<ZA�CBE�7854=B�78�?4F�4@C?<GH78F�DH8�CBF88A�?4F�BA74F�CBE�F8C4E47B�B@B�E8FH?G4�8I<78AG8��?4�CH8FG4�8A�94F8�78�7BF�9H8AG8F�FBABE4F�DH8�8@<G8A�8?�@<F@B�FBA<7B�B�9E86H8A6<4FG<8A8� HA4� :E4A� <@CBEG4A6<4� 8A� 6H4?DH<8E� F<FG8@4� 78� 4@C?<9<646<ZA�� L4� DH8� 78� 8??B� 78C8A78� 8?4CEBI86;4@<8AGB�WAG8:EB�78�GB7BF�FHF�6B@CBA8AG8F

"&,�&+"�����,'&'�1�,"%�*�����-&�+'&"�'%87<4AG8�?4�4LH74�78?�BF6<?BF6BC<B�ABF�8F�CBF<5?8�I<FH4?<M4E�?4�9BE@4�DH8�CBF88A�?4F�BA74F�FBABE4F��L4�DH88FG8�4C4E4GB�8F�64C4M�78�GE4AF9BE@4E�?4F�I<5E46<BA8F�8?V6GE<64F�DH8�E86<58��CBE�8=8@C?B�78�HA�@<6EZ9BAB��8ABA74F�I<F<5?8F��@87<4AG8�?4�C4AG4??4�DH8�<A6BECBE4�BA� HA� BF6<?BF6BC<B� 8F� 9U6<?� 6B@CEB54E� ?4� 7<98E8A6<4� 8AGE8� HA� FBA<7B� 9H8EG8� L� HAB� 7V5<?� �9<:� ��� �?78FC?4M4@<8AGB�@UK<@B�78�?4�BA74�78�?4�?WA84�68AGE4?�8F�6BAB6<74�6B@B�4@C?<GH7�78�HA�FBA<7B��H4AGB�@UF9H8EG8�8F�8?�FBA<7B�@4LBE�F8EU�?4�4@C?<GH7�78�?4�BA74��?B�6H4?�F<:A<9<64�DH8�?4F�@B?V6H?4F�78�4<E8�F8�4:<G4A@UF�DH8�6BA�HA�FBA<7B�7V5<?

$4� ��!�� ����� 8F� HA4� 6H4?<747�DH8�BF� C8E@<G8� 6?4F<9<64E� 4� ?BF� FBA<7BF�8A� 9H8EG8F�L�8A�7V5<?8F�� L�8FGU�8A9HA6<ZA�78�FH�4@C?<GH7�� F8�CH878�49<E@4E�DH8� ?4� "AG8AF<747� �"��8F�CEBCBE6<BA4?�4?�6H47E47B�78� ?4�4@C?<GH7FBABE4�,8ZE<64@8AG8�?4�<AG8AF<747�8F��?4�64AG<747�@87<4�78�8A8E:W4 GE4AFCBEG474��CBE�HA<747�78�FHC8E9<6<8�LCBE�HA<747�78�G<8@CB�33 3333

" ����C'.��(�

+<8A7BC� ��78AF<747�78?�4<E8������� ���:E�6@.���.8?B6<747�78?�FBA<7B�8A�8?�4<E8(���(E8F<ZA�@4AB@VGE<64���@C?<GH7�$4�CE8F<ZA�@UK<@4�DH8�CH878�FBCBEG4E�8?� BW7B�;H@4AB�8FGU�4?E8787BE�78�����7<A4F�6@��� E84?<M4A7B� ?4F6BEE8FCBA7<8AG8F� BC8E46<BA8F� G8A7E8@BF� DH8� 8?� I4?BE� 78� ?4� <AG8AF<747� @UK<@4� 78� FBA<7B� DH8� CB78@BFC8E6<5<E�8F�78� ���J4GG�6@���?E8787BE�78�8FG4� <AG8AF<747�8FGU�8?�H@5E4?�78�7B?BE�78?�BW7B��FBA<7BF�@UF<AG8AFBF�CH878A�CEBIB64E�?4�EBGHE4�78?�GW@C4AB$4� CE8F<ZA� @WA<@4� C4E4� DH8� HA� FBA<7B� F84� 4H7<5?8� 8FGU� 4� C4EG<E� 78� � �� 7<A4F�6@��� 8FG4� CE8F<ZA6BEE8FCBA78�4�HA4�"AG8AF<747�78�� � ��J4GG�6@��L�F8�6BEE8FCBA78�6BA�8?�H@5E4?�78�4H7<6<ZA�;H@4AB��L4DH8�?BF�FBA<7BF�6BA�HA4�<AG8AF<747�@8ABE�AB�CH878A�F8E�C8E6<5<7BF$4�8FGE86;4�E8?46<ZA�DH8�:H4E74�?4�<AG8AF<747�6BA�?4�CE8F<ZA�8F�6BAF86H8A6<4�7<E86G4�78�?4F�7<98E8A6<4F�78CE8F<ZA�8AGE8�?4F�6B@CE8F<BA8F�L�?4F�E4E<9<646<BA8F�@UK<@4F�78?�4<E8��CBE�7BA78�F8�GE4AF@<G8�?4�I<5E46<ZA�?�GBAB�78�HA�FBA<7B�G<8A8�FH�6BEE8FCBA7<8AG8�@4:A<GH7�9WF<64�8A�?4�9E86H8A6<4�78?�@<F@B��+<�F8�B5F8EI4�?49<:HE4� ��F8�CH878�I8E�DH8�;4L�@UF�BA74F�8A�HA�FBA<7B�4:H7B�DH8�8A�HAB�:E4I8�!4L�DH8�G8A8E�8A�6H8AG4�AB�B5FG4AG8��DH8�GBAB�L�9E86H8A6<4�AB�FBA�?B�@<F@B��8?�GBAB�78C8A78�78?�DH8�8F6H6;4��8F�CH8F�HA4�6H4?<747FH5=8G<I4��@<8AGE4F�DH8�?4�9E86H8A6<4�8F�HA4�6H4?<747�9WF<64��L�CBE�G4AGB�B5=8G<I4

�? !������78�HA�FBA<7B�8FGU�78G8E@<A47B�CBE�8?�A[@8EB�78� 9E86H8A6<4F�4E@ZA<64F�DH8 6BAG<8A8��CBE�8FGB4HADH8�HA�I<B?WA�L�HA�C<4AB�8@<G4A�?4�@<F@4�ABG4��7<FG<A:H<E8@BF�6BA�6?4E<747�8?�FBA<7B�64E46G8EWFG<6B�78�?BF7BF�<AFGEH@8AGBF��?�A[@8EB�78�4E@ZA<6BF�DH8�6BAG<8A8�?4�ABG4��FHF�4@C?<GH78F�E8?4G<I4F�L�?4F�E8?46<BA8F�7894F8�8AGE8� 8??4F� FBA� ?4F�DH8�ABF�C8E@<G8A�7<FG<A:H<E�HA� <AFGEH@8AGB�78�BGEB�$4�A4GHE4?8M4�78� ?4�ABG4�DH86474�<AFGEH@8AGB�8@<G8�ABF�<A7<64�6?4E4@8AG8�78�DH8�<AFGEH@8AGB�F8�GE4G4��8FGB�8F�?B�DH8�F8�6BAB68�6B@BG<@5E8�78�HA�FBA<7B

+<�HA�6BA=HAGB�78�<AFGEH@8AGBF�7<I8EFBF�GB64A�?4�@<F@4�ABG4�9E8AG8�4�HA�@<6EZ9BAB��L�F8�HF4�HA�BF6<?BF6BC<BC4E4�I8E�?4�9BE@4�78�BA74�DH8�GB@4��B5F8EI4E8@BF�BA74F�7<FG<AG4F�DH8�F8�7<98E8A6<4A��8A�FH�9BE@4�L�8A�FHC8E9<?���<:� ���-A4F�GB@4A�HA4�9BE@4�@UF�C?4A4�L�E87BA78474��@<8AGE4F�DH8�BGE4F�G<8A8A�6E8FG4F�4:H74F�B9BE@4F�6B@C?8=4F

N(BE� DHV� F8� 9BE@4A�8FGBF�C<6BF�8A� ?4F�BA74F�78� ?BF� <AFGEH@8AGBF�@HF<64?8F��$4� E4MZA�8F�DH8�6H4?DH<8EB5=8GB�I<5E4AG8�G<8A8��6B@[A@8AG8��@UF�78�HA4�9E86H8A6<4�78�I<5E46<ZA-A4�6H8E74�G8AF474�F8�HG<?<M4��CBE�8=8@C?B� C4E4�8@<G<E�FBA<7BF�8A�HA�I<B?WA��HA�54=B�B�HA4�:H<G4EE4�(4E4�HA4?BA:<GH7��HA�:EBFBE�L�HA4�G8AF<ZA�9<=4F�8FG4�6H8E74�CH878�I<5E4E�78�7<I8EF4F�@4A8E4F�(H878�4CE8G4EF8�8A�8?CHAGB�0�L�CH?F4E?4�8A�8?�CHAGB�1�C4E4�6474�HA4�78� ?4F�CBF<6<BA8F�DH8�F8� <A7<64�8A� ?4� 9<:HE4� ��-A4�I8MCH?F474��F<�F8�E8G<E4�8?�787B�78�0�?4�6H8E74�F8:H<EU�8@<G<8A7B�8FG4�ABG4�;4FG4�DH8�?4�I<5E46<ZA�F8�78G8A:4

�H4A7B� ?4� 6H8E74� F8� CH?F4� 6BA�HA4�C[4�B� 6BA�HA�4E6B�� VFG4� I<5E4� 8A�@UF�78�HAB�78� ?BF�@B7BF�DH8�F8<A7<64A�4?�@<F@B�G<8@CB�+<�I<5E4E4�8A�8?�CE<@8E�L�G8E68E�@B7B��8FG4�6H8E74�I<5E4EW4�6B@B�F8��@H8FGE4�8A�?49<:HE4� ����7BA78�?4�9E86H8A6<4�@UF�4?G4�6BAFG<GHL8�8?�4E@ZA<6B�78�?4�@UF�54=4�B�9HA74@8AG4?��A�8FG8�64FB6BA6E8GB� 8?� 4E@ZA<6B� G<8A8� HA4� 9E86H8A6<4� GE<C?8� DH8� 8?� 9HA74@8AG4?�� L� ?4� � BA74� E8FH?G4AG8� 8F� ?4� DH8� F8B5G<8A8� 4?� FH@4E� 8FG4F� BA74F� ��<:� ���� +<� F8� 4Y478A� GB7BF� ?BF� 7<FG<AGBF� 4E@ZA<6BF� 4� ?4� 9E86H8A6<49HA74@8AG4?�8A�?4�CEBCBE6<ZA�785<74��F8�CH878A�B5G8A8E�?4F�9BE@4F��78�BA74�DH8�F8�78F88A��FGB�8F�?B�DH8E84?<M4A� ?BF�F<AG8G<M47BE8F�8?86GEZA<6BF��DH8�C8E@<G8A�8F6B:8E�6B@5<A46<BA8F�78� 9E86H8A6<4F�C4E4� <@<G4E�8?FBA<7B�78�?BF�<AFGEH@8AGBF

�*%T&"�'+,B7B� FBA<7B� @HF<64?� DH8� 8F6H6;8@BF� 8FGU� 6B@CH8FGB� 78� BA74F� F8AB<74?8F� 6BA� 7<I8EF4F� 9E86H8A6<4F� L4@C?<GH78F��FG4F�BA74F�78G8E@<A4A�?4�9BE@4�78?�FBA<7B��L�?4�E8?46<ZA�8AGE8�8FG4F�9E86H8A6<4F�L�4@C?<GH78F78G8E@<A4�8?�G<@5E8�78�8FG8�FBA<7B�H4A7B� HA4� ABG4� @HF<64?� 8FGU� 6B@CH8FG4� 6BA� 7<FG<AGBF� GBABF�� ?4� 9BE@4� 78� ?4� BA74� 8F� 8?� E8FH?G47B� 786B@5<A4E� 6474� HA4� 78� ?4F� BA74F� DH8� G8A7EW4A� 8FGBF� GBABF� CBE� F8C4E47B�� 6BA� FH� 9E86H8A6<4�� 94F8� 8<AG8AF<747� 6BEE8FCBA7<8AG8� �� 8FG4F� BA74F� F8AB<74?8F� F8� ?8F� ??4@4 ���'���� �� L� FHF� 9E86H8A6<4F� 8FGUAE8?46<BA474F� 8AGE8� FW�� L4� DH8� GB74F� 8??4F� FBA� @[?G<C?BF� 78?� CE<@8E� 4E@ZA<6B�� 78AB@<A47B� 4E@ZA<6B9HA74@8AG4?

(BE�8A6<@4�78?�4E@ZA<6B�9HA74@8AG4? B�CE<@8E�4E@ZA<6B�F8�8A6H8AGE4A�8?�E8FGB�78�GBABF�DH8�6B@CBA8A�?4ABG4��F<8A7B� GB74F� �FHF� 9E86H8A6<4F�@[?G<C?BF�78� ?4� 9HA74@8AG4?� �9<:� �6��+<�8?�CE<@8E�4E@ZA<6B� G<8A8��CBE8=8@C?B��HA4�9E86H8A6<4�78 ����!M��?BF�4E@ZA<6BF�DH8�?8�F<:H8A�G8A7EUA�HA4F�9E86H8A6<4F�78�����!M�����!M�� ����!M�� ����!M��8G6���@87<74�DH8�?4�9E86H8A6<4�78�?BF�4E@ZA<6BF�F8�<A6E8@8AG4��?4�4@C?<GH7�78�VFGBFFH8?8� <E� 786E86<8A7B��78� 9BE@4�DH8� ?BF�4E@ZA<6BF�DH8� G8A:4A�HA4F� 9E86H8A6<4F�@UF�8?8I474F� G8A7EUA�HAA<I8?�@HL�<A98E<BE�4?�78?�CE<@8E�4E@ZA<6B��C8EB�AB�8A�GB7BF�?BF�64FBF�8F�4FW�?:HABF� 4E@ZA<6BF� CH878A� G8A8E� ?4� @<F@4� <AG8AF<747� DH8� 8?� 4E@ZA<6B� 9HA74@8AG4?�� 8?� FBA<7B� B5G8A<7BG8A7EU�HA�G<@5E8�UFC8EB�8�;<E<8AG8��6B@B�FH6878�6BA�4?:HA4F�ABG4F�DH8�74�HA�B5B8�B�HA�6?4E<A8G8�A�?4�9<:HE4����F8�CH878�B5F8EI4E�HA�:EU9<6B�6BA�?BF�7<I8EFBF�4E@ZA<6BF�DH8�6BAG<8A8A�7BF�6H8E74F�78�HAI<B?WA�CH?F474F�4?�4<E8��A�?4�C4EG8�FHC8E<BE�8?�8FC86GEB:E4@4�E8CEB7H68�?BF�4E@ZA<6BF�78�HA�%<�������!M��@<8AGE4F�DH8�8A�?4�C4EG8�<A98E<BE�?BF�4E@ZA<6BF�C8EG8A868A�4�HA�+B?��� ���!M���A�VFG8�64FB�?BF�4E@ZA<6BF78�?4�ABG4�6BA�HA�4E@ZA<6B�9HA74@8AG4?�@UF�54=B�8FGUA�@UF�68E64ABF�HABF�78�BGEBF

�F�:E46<4F�4�?BF�4E@ZA<6BF�DH8�CB78@BF�7<FG<A:H<E�8AGE8�HA�<AFGEH@8AGB�L�BGEB��H4A7B�8A�7BF�<AFGEH@8AGBF�CBE�8=8@C?B�HA�C<4AB�L�HA� 94:BG�� F8�8FGU�CH?F4A7B�HA4�@<F@4�ABG4��CB78@BF� E86BAB68E�FH�CEB6878A6<4785<7B� 4� ?BF� 4E@ZA<6BF� 7<FG<AGBF� DH8� 46B@C4Y4A� 4� ?4� 9HA74@8AG4?�� DH8� 8A� 4@5BF� 64FBF� G<8A8�8?�@<F@BI4?BE�FW� CH8F�� ?4� G8KGHE4�78?� FBA<7B�8@<G<7B�CBE�HA� <AFGEH@8AGB�@HF<64?�8FGU� E8?46<BA474�6BA� ?4� 64?<747�78� ?BF4E@ZA<6BF� DH8� 8@<G8� $4� 7<98E8A6<4� DH8� CH874� ;458E� 8AGE8� 7BF� <AFGEH@8AGBF� CEBI<8A8� 78� ?4� 7<FG<AG464C46<747�DH8�G<8A8A�FHF�4E@ZA<6BF�C4E4�E8FBA4E

."�*��"'&�+����($���+�1�%�%�*�&�+�A�4?:HABF� <AFGEH@8AGBF� ?BF�4E@ZA<6BF�DH8�6B@CBA8A�?4F�ABG4F�@HF<64?8F�AB�FBA�@[?G<C?BF�8AG8EBF�78�?49E86H8A6<4�9HA74@8AG4?�$4�@4LBE�C4EG8�78�<AFGEH@8AGBF�78�C8E6HF<ZA�B587868�4�8FG4�CE8@<F4+<� F8�:B?C84�8A�HA�CHAGB�78�HA4�@8@5E4A4� G8AF4�� 6B@B�CH878�F8E�HA� G4@5BE��HA4�C8EGHE546<ZA�78�7BF7<@8AF<BA8F�F8�CEBC4:4�78F78�8?�CHAGB�7BA78�F8�;4�:B?C847B�L�F8�E89?8=4�E8C8G<74@8AG8�8A�8?�5BE78�78�?4@8@5E4A4��H4A7B�8FG4�@8@5E4A4�I<5E4�;4L�HA�6<8EGB�A[@8EB�78�4E@ZA<6BF�CE8F8AG8F$4�9E86H8A6<4�CEBC<4�78�6474�9BE@4�78�I<5E46<ZA�F8�74A�8A�9HA6<ZA�78�?4�9E86H8A6<4�9HA74@8AG4?����

�A� ?4� 9<:HE4�� �F8�CH878�6B@CEB54E�6H4?�F8EU�8?�I4?BE�DH8�GB@4EUA�?4F�7<FG<AG4F� ?WA84F�78�I<5E46<ZA�8A�HA;<CBGVG<6B�G4@5BE�+8�B5F8EI4EU�6B@B�?4F�9E86H8A6<4F�78�?BF�4E@ZA<6BF�AB�FBA�@[?G<C?BF�78����4FW�DH8��8AE84?<747��AB�F8�6B@CBEG4A�6B@B�G4?8F�4E@ZA<6BF�+<�F8�74�4� ?4�9HA74@8AG4?�HA�I4?BE�78�����!M��8?�6H4EGB4E@ZA<6B�G8A7EW4�DH8�G8A8E�HA�I4?BE�DH8�9H8E4�@[?G<C?B�8AG8EB�78?�9HA74@8AG4?��C8EB��6B@B�F8�CH878 I8E�8A?4�<?HFGE46<ZA��8?�I4?BE�DH8�GB@4EU�F8EU�78������!M������������������!M

$4� @4LBEW4� 78� <AFGEH@8AGBF� 78� C8E6HF<ZA G4@5BE8F�� C?4G<??BF�� I<5EU9BABF�� 64@C4A4F� G<8A8� 8FG86B@CBEG4@<8AGB�<EE8:H?4E�6BA�?BF�4E@ZA<6BF�DH8�8@<G8A

$�+��*��-�&�"�+�%-+"��$�+�A�6B@C4E46<ZA�6BA� ?4�4@C?<4�:4@4�78�FBA<7BF�4H7<5?8F�� ?4�IBM�;H@4A4�6H5E8�HA4�:4@4�78� 9E86H8A6<4FE8?4G<I4@8AG8�8FGE86;4��DH8�I4�78�?BF� ���!M�4�?BF���#!M�������!M���8AGEB�78�8FG4�:4@4��8?�@4LBE�C8FB�?B6BAG<8A8A�?4F�9E86H8A6<4F�DH8�8FGUA�CBE�7854=B�78� �#;M��78�9BE@4�DH8�HA�����78�?4�8A8E:W4�GBG4?�78�?4�IBM;H@4A4�F8�6BA68AGE4�8A�?4F�9E86H8A6<4F�<A98E<BE8F�4�?BF�����!M�?� 6BAG8A<7B�78�4?G4F� 9E86H8A6<4F� 8A�8?� ;45?4�8F�@HL� E87H6<7B��AB�B5FG4AG8� ?4�@4LBE�C4EG8�78� ?4�8A8E:W48@C?8474�8A�?4F�6BAFBA4AG8F�F8�8A6H8AGE4�CBE�8A6<@4�78�?�#;M��CBE�?B�G4AGB�HA4�CVE7<74�8A�?4�E8CEB7H66<ZA78�?4F�4?G4F�9E86H8A6<4F�CH878�4986G4E�ABG45?8@8AG8�?4�<AG8?<:<5<?<747�78?�@8AF4=8�;45?47B�B@B�I4?BE8F�@WA<@BF��?4�:4@4�78�9E86H8A6<4F�A868F4E<4�C4E4�E8CEB7H6<E�?4�IBM�;H@4A4�F8�8A6H8AGE4�8AGE8?BF�����!M�L�?BF������!M��F<8A7B�VFG4�?4�E8FCH8FG4�8A�9E86H8A6<4F�78�HA�E868CGBE�G8?89ZA<6B�ABE@4?�B@B� ABE@4� :8A8E4?�� ?4� <AG8?<:<5<?<747� 78� ?4� C4?45E4� CH878� @8=BE4EF8� 4Y47<8A7B� HA4� @4LBE� CE8F8A6<4@87<4AG8�8?�HFB�78�4?:[A�F<FG8@4�86H4?<M47BE�4�GB74F�?4F�9E86H8A6<4F�6B@CE8A7<74F�8AGE8�?BF���>!M�L�?BF��>!M$BF�F<FG8@4F�78�4@C?<9<646<ZA�FBABE4� E8DH<8E8A��C4E4�FHF�4C?<646<BA8F�8A�7<E86GB��HA4�4?G4� 9<78?<747�8A� ?4E8CEB7H66<ZA�78�?4F�IB68F�(BE�VFG8�@BG<IB�7858A�F8�64C468F�78�B5G8A8E�HA4�E8FCH8FG4�C?4A4�8AGE8�?BF� ��!M�L�?BF���>!M��A�B64F<BA8F��HA�<A6E8@8AGB�78�?4F�9E86H8A6<4F�4?G4F�78�?4�IBM��78���4���>!M��CH878�@8=BE4EFH�A<G<78M��C8EB�F8�6BEE8�8?�C8?<:EB�78�CEBIB64E��@87<4AG8�8FG8� <A6E8@8AGB�� ?4� E84?<@8AG46<ZA�46[FG<64�(BE8FGB� 4H@8AG4E� ?4� :4A4A6<4� 8A� 8FG4F� 9E86H8A6<4F� 7858� E84?<M4EF8� F<8@CE8� 6BA� 64HG8?4�� 6H4A7B� F8� 8FGVGE454=4A7B�8A�7<E86GB�A� ?4� 9<:HE4��4�78?�64CWGH?B����7BA78�F8�;45?4�78��6[FG<64��8FGUA� ?BF�@UE:8A8F�78� 9E86H8A6<4�78�7<I8EFBF<AFGEH@8AGBF�@HF<64?8F�L�78�?4�IBM$4F F8Y4?8F�@HF<64?8F�B9E868A�HA4�@4LBE�7<9<6H?G47�C4E4�F8E�E8CEB7H6<74F�DH8�?4F�IB68F��L4�DH8�FH�:4@4�789E86H8A6<4F�8F�@H6;B�@UF�4@C?<4�$4�4?<A846<ZA�78�?BF�GBABF�L�?4F�CBG8A6<4F�78�?4F�F8Y4?8F�DH8�6B@CBA8AHA�C4F4=8�@HF<64?�78C8A78A�78?�8FG<?B�<AFGEH@8AG4?�DH8�F8�8@C?88��78�?BF�<AFGEH@8AGBF�DH8�9BE@8A�C4EG8��78?BF�4EE8:?BF�@HF<64?8F��78?� G<CB�78�CEB7H66<ZA�DH8�F8�8@C?88��8G6��?:HABF�8FG<?BF�@HF<64?8F��CBE�8=8@C?B�78C8A78A�8A�:E4A�C4EG8�78�DH8�?4�8A8E:W4�FBABE4�F<GH474�8AGE8�?BF����!M�L�?BF� ���!M�F84�E8CEB7H6<74�6BAGB74�FH�<AG8AF<747��8A�64@5<B��8FG4F�@<F@4F�9E86H8A6<4F�8FGUA�4HF8AG8F�8A�BGEBF�8FG<?BF�@HF<64?8F(BE�8FG8�@BG<IB��8?�CEB98F<BA4?�DH8�CBA8�4�CHAGB�6H4?DH<8E�F<FG8@4�78�4@C?<9<646<ZA�7858�4CE8A78E�4�HF4EFHF�BE8=4F�� C4E4� 4A4?<M4E� 6H<747BF4@8AG8� 8?�@4G8E<4?�@HF<64?� L�4C?<64E� ?4F�A868F<7478F�DH8�8FG8�@4G8E<4?6BA??8I4�4?�F<FG8@4�78�CBG8A6<4$4�;45<?<747�C4E4�8986GH4E�6BEE86G4@8AG8�8FG4�9HA6<ZA�F8�47DH<8E8�78FCHVF�78�HA4�?4E:4�8F6H6;4�6BA�I4E<BFF<FG8@4F�78�FBA<7B��L�8@C?84A7B�7<98E8AG8F�9H8AG8F @HF<64?8F�DH8�6BAG8A:4A�GB74�?4�:4@4�78�9E86H8A6<4F

�"*��,"."�������$�+��-�&,�+����+'&"�'

�HADH8�ABE@4?@8AG8� AB� F8� HF4�8FG8� GVE@<AB�6H4A7B�F8�;45?4�78� <AFGEH@8AGBF�@HF<64?8F�� ?��78F6E<58� ?4G8A78A6<4� DH8� G<8A8A� ?4� @4LBE� C4EG8� 78� 9H8AG8F� FBABE4F� 78� E47<4E� FH� 8A8E:W4�� 6BA� CE898E8A6<4�� 8A� HA4

7<E866<ZA�78G8E@<A474��A�?4�9<:HE4����CH878�I8EF8�<?HFGE47B�8FG8�6BA68CGB��8?�WA7<68�78�7<E86G<I<747��"���L�8?946GBE�78�7<E86G<I<747��)��CH878A�;4??4EF8�@87<4AG8�8?�HFB�78�8FG4F�86H46<BA8F�

"���� ��?B:�) �������)���� ��

$4� 9<:HE4� ��� @H8FGE4� ?4� 7<E86G<I<747� 64E46G8EWFG<64� 78� ?4� I<5E46<ZA� 78� HA� C<FGZA� 78AGEB� 78� HA� GH5B�� HA4F<GH46<ZA�DH8�F8�6BEE8FCBA78�4CEBK<@474@8AG8�6BA�?4�E47<46<ZA�FBABE4�78�HA�<AFGEH@8AGB�78�@8G4?��B@BF8�CH878�6B@CEB54E��?4�7<E86G<I<747�8FGU�8A�9HA6<ZA�78�?4�?BA:<GH7�78�BA74���?���E8?46<BA474�6BA�8?�7<U@8GEB78?�C<FGZA

$4�9<:HE4����C8E@<G8�6B@CEB54E�?4F�64E46G8EWFG<64F�7<E866<BA4?8F�78�?4F�I<5E46<BA8F�78�HA�C<FGZA�@BAG47B�8AHA� @HEB� B� 8A� HA4� 64=4�� HA4F� 64E46G8EWFG<64F� DH8� F8� 6BEE8FCBA78A� 6BA� 54FG4AG8� 8K46G<GH7� 4� � @H6;BF4?G4IB68F�78�@BA<GBE�&ZG8F8�DH8�6H4A7B�8?�7<U@8GEB�78?�C<FGZA B�78?�4?G4IBM�8F�<7VAG<6B�4�?4�?BA:<GH7�78BA74�8@<G<74��FH�E47<46<ZA�8F�?<@C<4@8AG8�7<E866<BA4?��"�� �7����C8EB�AB�F8�B5F8EI4A�?BF�C8DH8YBF�?Z5H?BF?4G8E4?8F�DH8�4C4E868A�6H4A7B�8?�7<U@8GEB�78?�4?G4IBM�8F�@4LBE�DH8�?4�?BA:<GH7�78�BA74�8@<G<74

$4�7<E866<BA4?<747�78�?BF�<AFGEH@8AGBF�78�I<8AGB�8F�@HL�6B@C?8=4��L4�DH8�78C8A78�8A�6474�@B@8AGB�78�?4??4I8�DH8�8?�@[F<6B�8FGU�4CE8G4A7B��A�?4�9<:HE4����F8�@H8FGE4�?4�6B@C?8=4�E47<46<ZA�78��HABF�<AFGEH@8AGBF78�@478E4�� F<8A7B� 8?� UA:H?B� �� 8?� DH8� 6BEE8FCBA78� 4?� 8=8� 78?� <AFGEH@8AGB� L� 96� ?4� 9E86H8A6<4� 78� 6BEG8� 78?@<F@B��F� 9U6<?� 6B@CEB54E�6B@B�64@5<4� ?4� E47<46<ZA�46[FG<64�78�HA� <AFGEH@8AGB�F8:[A� ?4� 9E86H8A6<4�DH88FGU�8@<G<8A7B�L�F8:[A�8?�UA:H?B��FW�CBE�8=8@C?B��F<�F8�GE4G4�78�E8:<FGE4E�8?�FBA<7B�78�HA�6?4E<A8G8�54=B��DH8G<8A8�HA4�9E86H8A6<4�78�6BEG8�78� �>!M��;45EU�DH8�6B?B64E�8?�@<6EB�4����:E47BF�78?�8=8�F<�F8�78F84�64CG4E�F<ACVE7<74F� 8FG4� 9E86H8A6<4�� @<8AGE4F� DH8� C4E4� HA4� 9E86H8A6<4� 78� �� >!M� �6H4GEB� I868F� ?4� 96�� ?4� 6B?B646<ZA<7ZA84� F8EU� 8A� 8?� @<F@B� 8=8� �A� ?4� CEU6G<64�� F8� 5HF64� HA4� CBF<6<ZA� <AG8E@87<4� DH8� C8E@<G4� HA4� 5H8A464CG46<ZA�78�GB74F�?4F�9E86H8A6<4F

$BF� <AFGEH@8AGBF� 78� 6H8E74� G4@5<VA� CE8F8AG4A� HA4F� 64E46G8EWFG<64F� 7<E866<BA4?8F� 6B@C?<6474F�� ?4F� 54=4F9E86H8A6<4F�FBA�8@<G<74F�CBE�8?�@<F@B�6H8ECB�78?�<AFGEH@8AGB��CBE�FH�CEBC<4�64=4��L�G<8A78A�4��78FC?4M4EF88A�GB74F�7<E866<BA8F��A�?4F�9E86H8A6<4F�@87<4F�8?�FBA<7B�8F�E47<47B�6BA�CE898E8A6<4�78F78�?4�C8EC8A7<6H?4E4� ?4�64=4�78?� <AFGEH@8AGB��@<8AGE4F�DH8�?4F�9E86H8A6<4F�4:H74F�F8�E86B:8A�6BA�@UF�<AG8AF<747�8A� ?4�MBA468E64A4�4?�CH8AG8,B7B� 8??B� ABF� 78@H8FGE4� DH8� ?4� 6BEE86G4� 6B?B646<ZA� 78� ?4� @<6EB9BAW4�� L� 8?� 5H8A� 6BAB6<@<8AGB� 78� ?BF<AFGEH@8AGBF� 4� FBABE<M4E�� FBA� 6BA7<6<BA8F� <A7<FC8AF45?8F� C4E4� 6BAF8:H<E� 8?� FBA<7B� DH8� F8� 78F88� 8A6H4?DH<8E� F<FG8@4� 78� 4@C?<9<646<ZA� "E� I4E<4A7B� ?4� CBF<6<ZA� 78� ?4� @<6EB9BAW4� 4?E8787BE� 78?� 8=8� 78� HA<AFGEH@8AGB� ;4EU� DH8� 8?� FBA<7B� B5G8A<7B� F84�@UF� FH4I8� B�@UF� 8FGE<78AG8�� 8?�@[F<6B� L� 8?� GV6A<6B� 7858A6BAB68E�?4F��64E46G8EWFG<64F�7<E866<BA4?8F�78�?BF�<AFGEH@8AGBF�6BA�DH8�GE454=4A��C4E4�?B:E4E�HA�FBA<7B�46BE786BA�FHF�:HFGBF

�$����"��$"'�����"&"�"T&�?�786<58?<B��7���78F6E<58�F<8@CE8�HA4�E8?46<ZA�8AGE8�7BF�@4:A<GH78F��HA4�78 ?4F�6H4?8F�8F�?4�DH8�F8�8@C?846B@B� E898E8A6<4� +8:[A� 6H4?� F84� ?4� @4:A<GH7� DH8� F8� @8FHE4�� 8?� I4?BE� 78� 8FG4� E8?46<ZA� CH878� G8A8EF<:A<9<647BF�@HL�7<I8EFBF$4�E4MZA�CBE�?4�6H4?�F8�HF4�8?�7��C4E4�I4E<BF�G<CBF�78�@8FHE4�8F�CBE�8?�64EU6G8E�?B:4EWG@<6B�DH8�CBF88��L�DH8C8E@<G8�HG<?<M4E�@8ABE�64AG<747�78�A[@8EBF�C4E4�8KCE8F4E�I4?BE8F�DH8��78�BGE4�9BE@4��CE86<F4E4A�78�@H6;4F6<9E4F(BE�BGEB�?47B�AH8FGE4�F8AF<5<?<747�4H7<G<I4�G<8A8�HA�6B@CBEG4@<8AGB�?B:4EWG@<6B��CBE�8??B��6H4A7B�F8�E84?<M4A@87<6<BA8F�8A�7�� ?4F� 6<9E4F� DH8� F8�B5G<8A8A�:H4E74A�HA4� E8?46<ZA�@UF� 68E64A4� 6BA�AH8FGE4�F8AF<5<?<7474H7<G<I4�DH8�F<�F8�;<6<8E4�6BA�BGE4F�HA<7478F�78�@8FHE4-A�786<58?<B�8F�?4�7V6<@4�C4EG8�78�HA��8?�-A��8?�8DH<I4?8�4?�?B:4E<G@B�78�HA4�E8?46<ZA�8AGE8�7BF�@4:A<GH78F46[FG<64F� 8?V6GE<64F��B�78�6H4?DH<8E�BGEB�G<CB��FW�C4E4�8KCE8F4E�?4�E8?46<ZA�8AGE8�7BF�CBG8A6<4F�@8FHE474F8A�J4G<BF �(��L�( �HG<?<M4A7B��8?F�G8A7E8@BF�

�8?��?B:��( �(��

�?�786<58?<B�8F�@UF�4786H47B�DH8�8?��8?�C4E4�HG<?<M4E�8A�GB7B�G<CB�78�@8FHE4F�E8?46<BA474F�6BA�?BF�F<FG8@4F78�FBA<7B��L4�DH8�?4�F86H8A6<4�78�I4?BE8F�DH8�CEBCBE6<BA4�8F�@UF�A4GHE4?(4E4�8KCE8F4E�?4�@<F@4�E8?46<ZA�8AGE8�7BF�CBG8A6<4F��C8EB�HF4A7B�4;BE4�8?�786<58?<B��8F6E<5<E8@BF�

7���� �?B:��( �(���+<8A7B�(��?4�@4:A<GH7�78�E898E8A6<4�H4A7B�F8�GE4G4�6BA�?B:4E<G@BF�8A�:8A8E4?�6H4?DH<8E�A[@8EB�CH878�F8E�HF47B�6B@B�54F8��C8EB�6H4A7B�F88986G[4A�6U?6H?BF�6BA�786<58?<BF�8A�6H8FG<BA8F�78�4H7<B�?4�54F8�DH8�F8�FH8?8�HG<?<M4E�8F� �&B�8F�<@CE8F6<A7<5?8�G8A8E�HA�6BAB6<@<8AGB�6?4EB�78?�F<FG8@4�?B:4EWG@<6B�C4E4�BC8E4E�6BA�786<58?<BF��?B�DH88F�<@CBEG4AG8�8AG8A78E�8F�DH8�HA�?B:4E<G@B�78F6E<58�?4�E8?46<ZA�8AGE8�7BF�CBG8A6<4F��L�AB�8?�I4?BE�45FB?HGB78�8FG4�CBG8A6<4��B@B�78@BFGE46<ZA�I4@BF�4�E8FB?I8E�8FG8�CEB5?8@4��N�HU?�8F�?4�E8?46<ZA��8A�7�F��8AGE8��J4G<BF�L� �J4G<B�

7����� ��?B:��( �(���� ��?B:���� �

������ ��?B:��

+<�F8�HF4�HA4�64?6H?47BE4�B�HA4F�G45?4F�F8�I8E4�DH8�8?�?B:4E<G@B�78���8F����� ��AGBA68F�

7���� ������ ������

$4�E8?46<ZA�8AGE8���J4G<BF�L� �J4G<B�8F�78���� �786<58?<BF�8�?4�@<F@4�9BE@4�F8�CB7EU�E8FB?I8E�8FG4�BGE4�6H8FG<ZA��N��HU?�8F�?4�E8?46<ZA�8AGE8� ���J4G<BF�L� ��J4G<BF�8KCE8F474�8A�7�F�

7���� ��?B:��( �(���� ��?B:�� ��� ��

����� ��?B:� �

-F4A7B��BGE4�I8M��?4�64?6H?47BE4�B�?4F�G45?4F�;4??4E8@BF�DH8�8?��?B:4E<G@B�78� ��8F� �

7���� � ��� �

�FG4�E8?46<ZA��@8FHE474�8A�7���F8EU�78� ��7���BA�8FGBF�7BF�CEB5?8@4F�CEU6G<6BF�F8�CBA8A�78�@4A<9<8FGB7BF�<AG8E8F4AG8F�4FC86GBF�DH8�E8FH?G4A�4?�HG<?<M4EF8�8?�7��6B@B�HA<747�78�E8?46<ZA�8AGE8�CBG8A6<4F���+<8@CE8�DH8 HA4�CBG8A6<4�8F�8?�7B5?8�78�BGE4��G8A7EU���7��@UF�+<8@CE8�DH8�HA4�CBG8A6<4�8F�7<8M�I868F�@4LBE�DH8�BGE4��G8A7EU� ��7��@UF�FGBF�7BF�8AHA6<47BF�F8�4C?<64A�F<8@CE8�DH8�F8�HF4A�7��C4E4�8KCE8F4E�CBG8A6<4F�8?V6GE<64F�?�786<58?<B�CH878�G4@5<VA�F8E�HG<?<M47B�C4E4�8KCE8F4E�E8?46<BA8F�78�IB?G4=8��8A�VFGBF�64FBF�?4�E8?46<ZA�8AGE87BF�I4?BE8F�AB�F8EU� ?4�@<F@4�DH8�F8�4C?<64�4� ?4F�CBG8A6<4F��B@B�?4�CBG8A6<4�8?V6GE<64�8F�CEBCBE6<BA4?�4?6H47E47B�78�?4�7<98E8A6<4�78�G8AF<ZA��?4�E8?46<ZA�8A�7��8AGE8�7BF�IB?G4=8F�F8EU�8?�7B5?8�78�?4�DH8�G<8A8�C4E4?4F�CBG8A6<4F��E8FH?G4A7B�

7��IB?G<BF�����?B:��� ����

�BA78����8F�8?�IB?G4=8�78�E898E8A6<4�L�� �8F�8?�IB?G4=8�DH8�F8�6BAF<78E4��H4A7B�F8�GE4G4�78�G8AF<BA8F��?4FE8?46<BA8F�8A�7��F<:H8A�8FG4F�ABE@4F���+<8@CE8�DH8�HA4�G8AF<ZA�8F�8?�7B5?8�78�BGE4��G8A7EU���7��@UF�+<8@CE8�DH8�HA4�G8AF<ZA�8F�7<8M�I868F�@4LBE�DH8�BGE4��F8��<A6E8@8AG4EU�8A����7��FW�CBE�8=8@C?B��N�HU?�8F� ?4� E8?46<ZA�8A�786<58?<BF�8AGE8�7BF� � G8AF<BA8F�8?V6GE<64F�78� ���IB?G<BF�L�78� �IB?G<BF�

7��IB?G<BF�����?B:��� ��������?B:�� ��� ������?B:� ������7�

$4�@<F@4� E8?46<ZA� DH8� 8K<FG8� 8AGE8� 7BF� G8AF<BA8F� 8?V6GE<64F� 8F� 4C?<645?8� 4� ?4� E8?46<ZA�8AGE8� <AG8AF<7478F8?V6GE<64F��8�;86;B�GB74F�?4F�E8?46<BA8F�78�7��DH8�G8A:4A�8?����6B@B�@H?G<C?<647BE�78?�?B:4E<G@B�F8:H<EUA8?�@<F@B�6B@CBEG4@<8AGB�78�?4F�E8?46<BA8F�8AGE8�IB?G4=8F�$4F�DH8�F8�8KCBA8A�8A�?4F�G45?4F���L���FBA�?4F@UF�HFH4?8F$4F� E8?46<BA8F�78�7��DH8� G8A:4A�8?� ��6B@B�@H?G<C?<647BE�78?� � ?B:4E<G@B� G8A7EUA��CBE�BGEB� ?47B��8?�@<F@B6B@CBEG4@<8AGB�78�?4F��E8?46<BA8F�8AGE8�CBG8A6<4F�8?V6GE<64F�

&".�$�+���+'$-,'+�1�*�$�,".'+$4�6?4I8�78?�6BA68CGB�78?�7��8A�F<�@<F@B�8F�DH8�AB�CBF88�HA�I4?BE�45FB?HGB��L4�DH8�VFG8�F<8@CE8�I<8A8747B�CBE�?4�HA<747�78�E898E8A6<4�4�DH8�F8�E89<8E4��L�GB@4EU�8?�I4?BE�78��'�7����?�A[@8EB�78�7��CBE�8A6<@4�BCBE�7854=B�78?�I4?BE�78�E898E8A6<4�CH878�F8E�HF47B�C4E4�78F6E<5<E�HA�I4?BE�8FC86W9<6B�.84@BF�7BF�8=8@C?BFC4E4�<?HFGE4E�8FG8�6BA68CGB�

� ������������!���������������������" ������������������������

+Z?B�6BA�8FGBF�74GBF�AB�8F�CBF<5?8�78G8E@<A4E�8?�I4?BE�45FB?HGB�DH8�CBF88�?4�F4?<74�78�?4�@8F4��L4�DH8�AB8FGU�8FC86<9<647B�8?�I4?BE�78�E898E8A6<4�C4E4�'�7���8F�<@CBF<5?8�78G8E@<A4E�8?�I4?BE�45FB?HGB�78�����7�

� ������������!�������������������������������" ��������������������������������

�A�8FG8�64FB�F8�CH878�49<E@4E�DH8�?4�@8F4�CH878�8AGE8:4E�8A�FH�F4?<74� ���@<?<I4G<BF�N�Z@B�F8�;4�;4??47B8FG8�I4?BE��+458@BF�DH8�F<8@CE8�DH8�HA4�CBG8A6<4�8F� ��I868F�@4LBE�DH8�BGE4�G8A7EU� ��7��@UF��4FW�6BAHA�A<I8? 78�� ��7��?4�CBG8A6<4�F8�<A6E8@8AG4EU�78� �@/�4� ��@/��@<8AGE4F�DH8�4?�4H@8AG4E� ��786<58?<BF@UF�;4FG4�??8:4E�4�?BF�����7��F8�<A6E8@8AG4EU�BGE4F� ��I868F��C4F4A7B�78� ��@/�4� ���@/�A�?4�G45?4���F8�CH878�B5F8EI4E�?4F�E8?46<BA8F�8AGE8�CBG8A6<4F��6B@C4E474F�6BA�8?�A<I8?�8A�786<58?<BF�(4E48A6BAGE4E�I4?BE8F�@UF�E87H6<7BF�CB78@BF�6BAFH?G4E�8A�?4�G45?4��

&".�$�+����+�R�$��&����"��$"'+

����FG8�GVE@<AB�8KCE8F4�8?�A<I8?�78�CBG8A6<4�8?V6GE<64��L�FH�A<I8?�78�E898E8A6<4�8F�78� �@<?<I4G<B��?�7�@AB�8FGU�7<E86G4@8AG8�E8?46<BA47B�6BA�?4�<@C874A6<4�B�6BA�8?�IB?G4=8�78�?WA84�?�6<E6H<GB�78�E898E8A6<4�C4E4�@8FHE4E�8?�7�@�8FGU�9BE@47B�CBE�HA�6<E6H<GB�6BA�HA4�G8AF<ZA�78�������.�6BAHA4�E8F<FG8A6<4�78�?WA84�78�����B;@<BF��6H4A7B�8A�8FG8�6<E6H<GB�8K<FG8�HA�@/�78�CBG8A6<4�F8�49<E@4�DH8�FHA<I8?�8A�7�@�8F���.84@BF�HA�8=8@C?B�

������!���������������������������������" �������������������������������

�A�8FG8�64FB�ABF�74A�?4�<A9BE@46<ZA�47<6<BA4?�FB5E8�?4�E8F<FG8A6<4�78�?4�?WA84��DH8�6B<A6<78�6BA�?4�AB@<A4?(4E4�;4??4E�8?�IB?G4=8�78�F4?<74�78�?4�@8F4��4�����7���;45EU�DH8�G8A8E�8A�6H8AG4�?4F�E8?46<BA8F�78�G8AF<ZA�HA4�78�?4F�6H4?8F�ABF�<A7<64�DH8�F<8@CE8�DH8�HA4�G8AF<ZA�8F�7<8M�I868F�@4LBE�DH8�BGE4�F8�<A6E8@8AG4�FHE8?46<ZA�8A����7��(BE�6BAF<:H<8AG8�8?�A<I8?�78�IB?G4=8�4�?4�F4?<74�78?�@8M6?47BE�F8EU�78���������. ��������.

�"��$4F�@B78EA4F�HA<7478F�78�4H7<B�<A7<64A�FH�F8AF<5<?<747�E898E<74�4�?BF�A<I8?8F�78�IB?G4=8�$4�CBG8A6<478�F4?<74�FZ?B�8F�6BAF<78E474�8A�8?�64FB�78�?4F�8G4C4F�78�CBG8A6<4��7BA78�?4�64AG<747�78�7��8A�I4G<BF�8F�8?A<I8?�DH8�@UF�<AG8E8F4$4� E8?46<ZA� 7�H� 8F� ?4�@UF� 4CEBC<474� C4E4� 8KCE8F4E� 8?� IB?G4=8� 78� 8AGE474� L� 78� F4?<74� �FG4� 7<98E8A6<4� 78G8AF<ZA�8F�8DH<I4?8AG8�4�?4�DH8�F8�HF4�C4E4�8?�7�@��7BA78�?4�64E:4�8?V6GE<64�F8�7<F<C4�FB5E8�HA4�*8F<FG8A6<478�����B;@<BF�&B�B5FG4AG8�8?�I4?BE�78?�7�H�AB�78C8A78�78�?4�64E:4����7�H�FBA�F<8@CE8�������IB?G<BF�?�I4?BE�8A�7�H�8FGU�8FC86<9<647B�8A�GB74F�?4F�HA<7478F�78�4H7<B��L�7858�8I<G4EF8�8?�6BA9HA7<E�8FG8�I4?BE�6BA6H4?DH<8E�BGE4�E8?46<ZA�78�IB?G4=8��6B@B�CH874�F8E�8?�7�.��=8@C?B�

�����������" ��������������������������������������������������������������������

�A�8?�8=8@C?B�4AG8E<BE�F8�64?6H?454�DH8�8?�IB?G4=8�78�F4?<74�C4E4�����7�@�8E4�78������.�(8EB�4;BE4�ABF;4??4@BF�6BA�HA4�7<98E8A6<4�F<:A<9<64G<I4� L4�DH8� ?4� <@C874A6<4�78�64E:4�78�8FG8�CEB5?8@4�8F� �78� ����B;@<BF��@<8AGE4F�8A�8?�CEB5?8@4�4AG8E<BE�8E4�78�����B;@<BF��8�GB74F�9BE@4F��F<�8FG4�@8F4�F8�6BA86G4�4�FHF4?<74�6BA�HA<7478F�DH8� GE454=8A�4�����B;@<BF��;45EU�HA4�64W74�78�IB?G4=8�� � ?4�7<FGBEF<ZA� GB@4EU�I4?BE8F8?8I47BF��L�;4FG4�8K<FG8�8?�C8?<:EB�78�DH8@4E�?BF�6<E6H<GBF�78�?4�@<F@4�@8F4�A�?4�9<:HE4���F8�@H8FGE4�HA�:EU9<6B�DH8�@H8FGE4�?4F�8DH<I4?8A6<4F�78�?BF�A<I8?8F�747BF�8A�7�H��B�8A�7�@FB5E8������B;@<BF��6BA�?BF�IB?G4=8F

���$��#���?�GVE@<AB�7�H�8F�54FG4AG8�E86<8AG8��L�7HE4AG8�I4E<BF�4YBF�?4�E898E8A6<4�78�IB?G4=8�9H8�8?�7�.�F<8A7B���7�.� �IB?G<B��?�@<F@B�G<8@CB�F8�HG<?<M454�8?�GVE@<AB�7�I��7BA78�?4�E8?46<ZA�8F��'�7�I�������.��?GVE@<AB�7�I�CH878�6BA9HA7<EF8�6BA�7�@��L4�DH8�4@5BF�CBF88A�HA�@<F@B�IB?G4=8�78�E898E8A6<4��C8EB�8A�8?GVE@<AB�7�@�F8�8FC86<9<64�DH8�?4�E8F<FG8A6<4�8F�78�����B;@<BF��@<8AGE4F�8A�7�I�AB�8FGU�8FC86<9<647B+<�F8�GE4G4�5UF<64@8AG8�78�IB?G4=8��8F�CBF<5?8�8986GH4E�?4�6BAI8EF<ZA�78�7�.�8A�7�H��B�8A�7�@�F<�8F�FB5E8����B;@<BF��4Y47<8A7B�����7��4?�I4?BE�DH8�G8A:4@BF�78�7�.�(4E4�6BAI8EG<E�7�H�8A�7�.�F8�BC8E4�78�9BE@4<AI8EF4��E8FG4A7B�����7��78?�I4?BE�DH8�G8A:4@BF�8A�7�H

*�$��"T&��&,*��7�.��7�H�1�7�@�A�@H6;BF�CEB7H6GBF��?4F�8AGE474F�78�=46>�L�G4@5<VA�?4F�F4?<74F�8FGUA�8FC86<9<6474F�8A�7�.��E898E8A6<4� IB?G<B���L4�DH8�VFG8�8F�8?�8FGUA74E�HG<?<M47B�C4E4�8FG4F�4C?<646<BA8F��H4A7B�F8�GE4G4�78�?BF�A<I8?8F�78�F4?<748A� 6BA86GBE8F� 64ABA� �0$*��� ?BF� A<I8?8F� FH8?8A� I8A<E� 8FC86<9<647BF� 8A� 7�@� �E898E8A6<4� �@/�� B� 8A� 7�H�������.�

-FH4?@8AG8� ?BF� A<I8?8F� 78� ?WA84�8A� ?4F� 8AGE474F� L� F4?<74F� C4E4� 6BA86GBE� G<CB� =46>� 8FGUA�CE8C4E47BF�C4E4GE454=4E�6BA� <@C874A6<4F�8?8I474F��L�FH�A<I8?�8FC86W9<6B�FH8?8� G8A8E�I4?BE8F�6B@B ��7�.�� �CBE�8=8@C?B�FGBF�I4?BE8F�;4A�F<7B�HF47BF�7HE4AG8�@H6;BF�4YBF�CBE�GB74�?4�<A7HFGE<4�78?�FBA<7B�78�6BAFH@B$BF�A<I8?8F�78�?WA84�C4E4�?4F�8AGE474F�L�F4?<74F�78�?BF�6BA86GBE8F�0$*�8FGUA�C8AF47BF�C4E4�F8E�HF47BF�6BAHA<7478F�78�4?G4�B�78�54=4�<@C874A6<4��?�A<I8?�AB@<A4?�78�8FG4F�?WA84F�FH8?8�G8A8E�HABF�I4?BE8F�6B@B���7�@�Z����7�@��DH8�FBA�64E46G8EWFG<6BF�78�?BF�F<FG8@4F�78�4@C?<9<646<ZA�CEB98F<BA4?8F�B�78�?BF�8DH<CBF�785EB4764FG-A4�F4?<74�78�54=4�<@C874A6<4�CH878�6BA86G4EF8�6BA�HA4�8AGE474�DH8�G8A:4�HA4�<@C874A6<4�@4LBE��F<A�DH8F8�64HF8�HA4�I4E<46<ZA� <@CBEG4AG8�8A�8?�A<I8?�78� ?4�F8Y4?�78�4H7<B�(8EB�F<�F8� GE4G4�78�HA4�F4?<74�78�4?G4<@C874A6<4�� L� F8� 6BA86G4� 6BA� HA4� 8AGE474� 78� � 54=4� <@C874A6<4�� CH878� E8FH?G4E� ?4� ?WA84� FB5E864E:474�<A6E8@8AGUA7BF8� ?4� 7<FGBEF<ZA� L� B5G8A<8A7B� HA� A<I8?� 78� F8Y4?� @HL� CB5E8� �A� 8FG8� [?G<@B� 64FB� C4EG8� 78?8DH<CB� CH878� DH874E� 74Y47B�� 4FW� DH8� 8F� <@CBEG4AG8� ?88E� ?4F� 8FC86<9<646<BA8F� E8?4G<I4F� 4� 8FGBF� A<I8?8F78G8A<74@8AG8��L�B5E4E�8A�6BAF86H8A6<4

&".�$�+����(',�&�"���&����"��$"'+�?�GVE@<AB�A<I8?�FBABEB�F8�E89<8E8�ABE@4?@8AG8�4?�A<I8? 78�CE8F<ZA�FBABE4��4HADH8�G4@5<VA�CH878�<A7<64E�?4CBG8A6<4�78�HA�FBA<7B�H4A7B�F8�8986G[4A�@87<6<BA8F�8F� <@CBEG4AG8�8FG45?868E�8?�F<:A<9<647B�78�6474�6BA68CGB��FW�� ?4�CBG8A6<4FBABE4�ABF�<A7<64�?4�8A8E:W4�FBABE4�GBG4?�DH8�<EE47<4�HA�4?G4IBM�8A�GB74F�7<E866<BA8F��@<8AGE4F�DH8�?4�CE8F<ZAFBABE4�ABF�<A7<64�8?�A<I8?�78�CE8F<ZA�DH8�F8�E86<58�8A�HA�UE84�78G8E@<A474

�� ���� +8� HG<?<M4� C4E4� @8FHE4E� 8?� A<I8?� 78� CE8F<ZA� FBABE4� FB5E8� HA� UE84� 78G8E@<A474�� F<8A7B� ��� 8?@H?G<C?<647BE� 78?� ?B:4E<G@B�� L4� DH8� ?4� CE8F<ZA� FBABE4� 8F� <AI8EF4@8AG8� CEBCBE6<BA4?� 4?� 6H47E47B� 78� � ?47<FG4A6<4��FW�(��8F�?4�CE8F<ZA�78�E898E8A6<4���������7<A4�6@��L�( �8?�A<I8?�78�CE8F<ZA�DH8�F8�6B@C4E4�

7��+($�����?B:�( �(��

�BA�8FG8�@H?G<C?<647BE�F458@BF�DH8�6H4A7B�HA4�CE8F<ZA�8F�8?�7B5?8�78�BGE4��4H@8AG4EU�FH�I4?BE�8A���7���LDH8�6H4A7B�?4�CE8F<ZA�8F�7<8M�I868F�@4LBE�8?�4H@8AGB�F8EU�78����7��?� 786<58?<B� +($� CH878� F8E� GB@47B� 6B@B� HA<747� 78� E898E8A6<4� C4E4�@8FHE4F� 78� FBABE<747� 8A� 6H4?DH<8E8FC46<B�� L4� DH8� 8?� A<I8?� �� 7�� +($� 6B<A6<78� 6BA� 8?� H@5E4?� 78� 4H7<6<ZA� ;H@4AB�� L� E8CE8F8AG4� ?4� � CE8F<ZA

@WA<@4�A868F4E<4�C4E4�8KC8E<@8AG4E�?4�F8AF46<ZA�FBABE4�8AGE8� �>!M�L���#!M��$4F�9E86H8A6<4F�4�?4F�DH8�8?BW7B�8F�@UF�F8AF<5?8��8�GB74F�9BE@4F��4�A<I8?�CEU6G<6B�L�F<A�A868F<747�78�8986GH4E�86H46<BA8F��F8�CH878A�GB@4E�6B@B�54F8�8FG4FE8?46<BA8F�8AGE8�CE8F<ZA�L�786<58?<BF�+($��-A�<A6E8@8AGB�78 ��� 8DH<I4?8�4?�64@5<B�78�CE8F<ZA�A868F4E<4�C4E4�DH8�8?�BW7B�C8E6<54�HA�?<:8EB�4H@8AGB78?� IB?H@8A� FBABEB�� L� C4E4� ?B:E4E� 8FG8� <A6E8@8AGB� F8� CE86<F4� 7B5?4E� ?4� CBG8A6<4� 78� ?4F� 8G4C4F� 784@C?<9<646<ZA�-A�<A6E8@8AGB�78 ��� F<:A<9<64�HA4�E8?46<ZA�78���4� �8A�786<58?<BF�+($��L�4�A<I8?�4H7<G<IB�F8�C8E6<58�HA4H@8AGB�78?�IB?H@8A��C8EB�F<A�DH8�??8:H8�4�F8E�8?�7B5?8� (4E4� <A6E8@8AG4E� HA� CEB:E4@4� @HF<64?� 8A ��� � F8EU� A868F4E<B� 4H@8AG4E� 7<8M� I868F� ?4� CBG8A6<4� 784@C?<9<646<ZA�� C8EB� F<A� 8@54E:B�� 4� A<I8?� 4H7<G<IB�� F8EU� C8E6<5<7B� 6B@B� F<� FBA4E4� 4?� 7B5?8� 78?� IB?H@8A4AG8E<BE

�� ���� +<EI8A� C4E4� E8CE8F8AG4E� ?4� CBG8A6<4� 46[FG<64� DH8� 6B@[A@8AG8� I<8A8� <A7<6474� 8A� J4G<BF� �?@H?G<C?<647BE�78?�?B:4E<G@B�8F� ���4?�<:H4?�DH8�BGE4F�86H46<BA8F�DH8�8KCE8F4A�E8?46<BA8F�78�CBG8A6<4�

7��(/$��� �?B:��( �(��

$4� CBG8A6<4� 46[FG<64� 8A� 7��(/$� F8� HG<?<M4� 6H4A7B� F8� GE4G4� 78� 6B@CEB54E� ?4� 89<6<8A6<4� 78�HA� F<FG8@4�784?G4IB68F��B�6H4A7B�F8�8986G[4A�6U?6H?BF�78�E8I8E58E46<ZA�8A�E86<AGBF�68EE47BF��C8EB�F8�HF4�@HL�E4E4@8AG88A�6U?6H?BF�DH8�<@C?<DH8A�6BAB68E�8?�E8A7<@<8AGB�78�GB7B�HA�F<FG8@4��C4E4�8FGB�F8�HF4�CE898E8AG8@8AG8�8?7��+($+<� GE454=4@BF� GB@4A7B� 6B@B� 54F8� J4G<BF� 46[FG<6BF�� 8A� ?H:4E� 78� J4G<BF� 8?V6GE<6BF�� F8� CH878A� HF4E� ?BFI4?BE8F�747BF�8A�?4F�G45?4F���L���C4E4�FH@4E�B�E8FG4E�786<58?<BF�(/$��8�GB74F�9BE@4F�6BAI<8A8�G8A8E�6?4EBDH8�8?� 7��(/$�8F�HA4� E8?46<ZA�78�CBG8A6<4�46[FG<64��@<8AGE4F�DH8�8?�7��/�8F�HA4� E8?46<ZA�78�CBG8A6<48?V6GE<64

�0,�&+"T&��"&O%"��+8�??4@4�8KG8AF<ZA�7<AU@<64 B�E4A:B�7<AU@<6B�4�?4�7<98E8A6<4��8A�786<58?<BF��8AGE8�?4�C4EG8�@UF�9H8EG8�L�?4@UF� F<?8A6<BF4� 78� HA� CEB:E4@4�@HF<64?� ��@8AH7B� ?4� C4EG8�@UF� FH4I8� 78� HA� CEB:E4@4� � CH878� DH874EG4C474�CBE�8?�EH<7B�78�4@5<8AG8��8A�VFGBF�64FBF�?4�8KG8AF<ZA�7<AU@<64�8F�?4�7<98E8A6<4�8AGE8�8?�GEBMB�@UF�4?GB78?�CEB:E4@4�@HF<64?�L�8?�EH<7B�78�9BA7B��@8FHE474�8A�7��<6;B�78�BGE4�9BE@4��8?�E4A:B�7<AU@<6B�789<A8�?4�7<FG4A6<4�8AGE8�?BF�A<I8?8F�78�HA�CEB:E4@4�FBABEB�?� 6BAB6<@<8AGB� 78� ?4� 8KG8AF<ZA�7<AU@<64�8F�4C?<645?8�4� ?BF�F<FG8@4F�78�4@C?<9<646<ZA�8A�CBG8A6<4��474F<FG8@4� G<8A8� HA� EH<7B� 78� 9BA7B� CEBC<B�� DH8� FH8?8� 8FG4E� CEBIB647B� CBE� FHF� CEBC<BF� 6B@CBA8AG8F8?86GEZA<6BF� �?� E4A:B� 7<AU@<6B� 78� HA� F<FG8@4� 78� FBA<7B� 8F� <:H4?� 4� ?4� 7<98E8A6<4� 8AGE8� 8?� A<I8?� 78� F4?<74@UK<@B�DH8�8?�F<FG8@4�CH878�8AGE8:4E�L�8?�EH<7B�78�9BA7B�DH8�:8A8E4�8?�CEBC<B�F<FG8@4�?�A<I8?�78�FBA<7B�4AG8�HA�@<6EZ9BAB�CH878�G8A8E�HA4�8KG8AF<ZA�78����786<58?<BF��VFG4�8F�?4�7<FG4A6<4�8AGE8�8?EH<7B�78� 9BA7B��DH8�CH878�8FG4E�4����7�� �@HE@H??B�78?�C[5?<6B�� EH<7B�78�I<8AGB�� GEU9<6B���L�HA4�F8Y4?�@HL<AG8AF4�DH8�74� ���7���8?�64AG4AG8�:E<G4A7B�C8:47B�4?�@<6EB���FGBF����7��78�8KG8AF<ZA�7<AU@<64�FBA�?BFDH8�8AGE8:4�8?�@<6EZ9BAB��AB�?BF�DH8�CH874�74E�8?�F<FG8@4�78�4@C?<9<646<ZA�8�;86;B��8?�A<I8?�78�?4�F8Y4?�8?V6GE<64�DH8�CEBCBE6<BA4�HA�F<FG8@4�78�4@C?<9<646<ZA�8F�CEBCBE6<BA4?�4?�A<I8?78�CE8F<ZA�FBABE4�DH8�8AGE8:4A�?BF�@<6EZ9BABF��FG8�A<I8?�8?V6GE<6B�78C8A78�78�?4�F8AF<5<?<747�78�?BF�@<6EBF�78�?4�:4A4A6<4�78�?BF�64A4?8F�78�?4�@8F4��78�?4�CBG8A6<4�DH8�8AGE8:H8A�?4F�8G4C4F��L�78�GB7BF�?BF�8?8@8AGBFDH8� <AG8EI<8A8A�8A� ?4� 6478A4�78�4@C?<9<646<ZA��A�A<A:[A�64FB� ?4�8KG8AF<ZA�7<AU@<64�78�HA�F<FG8@4�F8EUFHC8E<BE�4?�E4A:B�7<AU@<6B�DH8�?BF�@<6EZ9BABF�CH874A�8AGE8:4E�A�AH8FGEBF�7W4F��?BF�A<I8?8F�78�FBA<7B�DH8�F8�74A�8A�?BF�6BA6<8EGBF�CH878A�??8:4E�4�A<I8?8F�@HL�8?8I47BF�L4�DH8�6BAG4@BF�6BA�8G4C4F�L�4?G4IB68F�64C468F�78�FH@<A<FGE4E�@UF�78� ���7��+($��4FW�DH8�8?�CHAGB�@UF4?GB� 78?� E4A:B� 7<AU@<6B� CH878� 64?6H?4EF8� 8A� 9HA6<ZA� 78� ?4� 64C46<747� 8986G<I4� 78� ?BF� 4?G4IB68F� C4E4E8CEB7H6<E�4?G4F�CBG8A6<4F��L�G4@5<VA�78�?4�7<FG4A6<4�DH8�8K<FG4�8AGE8�8?�C[5?<6B�L�?BF�4?G4IB68F

- ACÚSTICA - SENSIBILIDAD DEL OÍDO. Diversos experimentos realizados han demostrado que los límites de la percepción de presiones sonoras por parte de nuestro oído, y dentro de las frecuencias medias, van de un mínimo de 0'0002 microbares a un máximo de 2.000 microbares. El microbar es una medida de presión que equivale a la fuerza ejercida por una dina sobre un centímetro cuadrado de superficie, lo cual equivale a una millonésima parte de la presión atmosférica al nivel del mar. Los sonidos con una presión inferior a 0'0002 microbares no llegan a ser percibidos por la inmensa mayoría de personas, mientras que los que generan presiones superiores a los 2.000 microbares pueden perjudicar nuestros oídos; así que partiendo de estos valores se han establecido dos niveles patrón: Umbral de la audición: Nivel mínimo de sonido que la mayoría de personas puede percibir, dentro de unas frecuencias determinadas. Umbral del dolor: Nivel de presión sonora a partir del cual se causa molestias o dolor al oído, a unas frecuencias determinadas. El umbral de audición es una característica fisiológica concreta que varia de una persona a otra, ya que un sonido se oye o no se oye según el buen estado del órgano auditivo de cada sujeto. Pero la intensidad que percibimos, o sonoridad, es más difícil de medir o de definir. Generalmente, un sonido comienza a ser molesto cuando sobrepasa el nivel de 120 dB (200 microbares, ya que el dB de presión equivale al dB de tensión) si su frecuencia se halla entre los 200 y los 10.000 Hz; siendo realmente dolorosos los sonidos superiores a los 140 dB (que equivalen a 2.000 microbares) Comparemos la sensación sonora causada por un determinado sonido y por otro de referencia. Si ambos producen la misma sensación en nuestros oídos se dice que tienen la misma sonoridad, aunque pueden ejercer distintas presiones sobre el oído. Si el sonido que comparamos parece dos veces más potente que el de referencia, podrá afirmarse que su sonoridad es el doble que aquel, lo cual no quiere decir que sea así en realidad, dadas las particulares cualidades de nuestros órganos auditivos. Debido al mecanismo de autoprotección que posee el oído, su sensibilidad es muy superior a niveles bajos de sonido que a niveles altos. A mayor intensidad sonora, hacen falta mayores aumentos de los estímulos sonoros para poder percibir los cambios de nivel. Por otro lado, nuestra sensibilidad auditiva no es la misma para todas las frecuencias, ya que nos es más fácil percibir los tonos medios que los altos o los bajos. Por todo ello, existen dos magnitudes distintas que mesuran la misma presión sonora desde dos parámetros: la Intensidad, o magnitud física objetiva; y la Sonoridad, o sensación subjetiva que produce un sonido. RELACIÓN INTENSIDAD-SONORIDAD Para estudiar las variaciones de sonoridad en función de las frecuencias e intensidades dos científicos, Fletcher y Munson llevaron a cabo en 1933 un experimento con diversas personas, que se iban introduciendo por grupos en una cámara anecoica, y luego se les pidió que compararan la sonoridad de un tono de referencia con diversos tonos de prueba; conociéndose en todos los casos los niveles objetivos de presión sonora. Este experimento se repitió con múltiples frecuencias e intensidades, hasta que los datos fueron promediados y con ellos se trazaron las llamadas curvas de igual sonoridad. Estas curvas fueron mejoradas y ampliadas por Robinson y Dodson más tarde, pero conservan el nombre de sus primeros descubridores, y son las que aparecen en la figura 1. A lo largo de cada curva el oído percibe la misma sonoridad, y hace falta más presión sonora si se trata de frecuencias altas o bajas para equiparar su sonoridad con las frecuencias medias. La unidad utilizada para medir la sonoridad es el Fon ó Fonio. Numéricamente, el Fon es igual al nivel de presión (en dB) que tiene una nota de 1000 Hz que se percibe con igual sonoridad a la del sonido considerado. Observando las curvas de igual sonoridad se comprueba como el oído tiene una sensibilidad máxima en las frecuencias comprendidas entre los 1000 y los 6000 hercios; por el contrario en las frecuencias más bajas se necesitan unos niveles de presión muy altos para conseguir la misma sensación sonora obtenida en las frecuencias medias.

Si se observa la figura 1, se puede comprobar como el valor numérico del Fon es siempre el mismo que la presión sonora medida en dB SPL a 1 Khz. Para las otras frecuencias, esta relación es variable según la intensidad sonora. Si se sigue la línea correspondiente a una sonoridad de 100 Fons, a 1 Khz coincide con la línea horizontal que corresponde a un nivel de presión acústica de 100 decibelios SPL. La correspondencia entre Fones y decibelios SPL es siempre válida para esta frecuencia. En la zona alrededor de los 4 Khz la línea de sonoridad cae hasta los 88 dB SPL. Esto significa que para obtener una sonoridad de 100 Fones en las frecuencias cercanas a los 4 Khz basta con disponer de un sistema que nos entregue 88 dB SPL de presión sonora. En las partes extremas de la curva de 100 Fones se precisa una mayor presión sonora para obtener idéntica sensación de sonoridad; y así a las frecuencias de 50 Hz y de 17 Khz precisan de 110 decibelios SPL para dar 100 Fones de sonoridad. Las curvas de Fletcher-Munson demostraron que la sensibilidad de nuestros oídos no es la misma para todas las frecuencias, no es plana. Además se observa que a medida que se aumenta o se disminuye el volumen de la presión sonora también varia la relación entre frecuencias. RELACIÓN ENTRE TONOS MUSICALES. El tono de un sonido depende de la frecuencia de éste; se denominan tonos graves aquellos que contienen bajas frecuencias, y tonos agudos los que contienen altas frecuencias. De hecho, durante mucho tiempo se consideró que ambos vocablos -tono y frecuencia- eran sinónimos, pero en la actualidad se ha demostrado que no guardan una correspondencia absoluta, aunque cuando aumenta la frecuencia (magnitud objetiva) también lo hace el tono musical (magnitud subjetiva), la variación no es igual. En todo el espectro de las frecuencias medias la altura tonal se corresponde con las frecuencias, pero ésto no sucede fuera de esta zona del espectro. Si pasamos de un tono puro de 1000 Hz a otro de 2000 Hz, habremos recorrido una octava; pero la sensación auditiva no será la misma si pasamos de escuchar un tono de 5000 Hz a otro de 6000 Hz, aunque en los dos casos se hayan aumentado 1000 Hz. Sería necesario, en el segundo supuesto, recorrer una octava entera, pasando de 5000 Hz a 10.000 Hz para sentir un efecto auditivo similar al primero. Una octava es el intervalo musical entre dos tonos, que guardan entre si una relación en frecuencias de 2 : 1. El intervalo entre octavas es más amplio a medida que va aumentando la frecuencia. Para poner un ejemplo, una octava por encima de 40 Hz llega hasta los 80 Hz, con un intervalo en frecuencias de 40 Hz; mientras que

una octava por encima de los 2.000 Hz llega hasta los 4.000 Hz, con un intervalo en frecuencias de 2.000 Hz. No obstante, ambos intervalos producen en nuestros oídos la misma impresión subjetiva de doblar un tono. CONSONANCIA Y DISONANCIA Cuando escuchamos dos tonos musicales distintos de forma simultánea, y el resultado suena agradable a nuestro oído, se dice entonces que estos tonos son consonantes; si resultara un sonido desagradable se diría que son disonantes. La consonancia entre dos sonidos se debe a que ambos tienen armónicos en común, mientras que la disonancia se da cuando entre dos sonidos existe un intervalo próximo al semitono. Se denomina armonía a la técnica musical donde se estudian las normas de la consonancia entre distintos acordes; esta disciplina surgió del análisis de las obras escritas por los grandes compositores clásicos, si bien sus normas pueden aplicarse perfectamente a la mayor parte de estilos musicales, ya que están basadas en la sensibilidad del oído humano. La armonía se fundamenta en el análisis de los armónicos naturales que acompañan a todo tono musical, y además regula la sucesión y el encadenamiento de los acordes emitidos por un instrumento. La armonía depende de los espacios o intervalos entre las notas musicales, de forma que el efecto agradable al oído -consonancia- se obtiene por el mantenimiento de una relación fija de frecuencias entre una nota y la que le sigue, o entre una nota y las que suenan al mismo tiempo. Cada nota musical está separada de la siguiente por un mismo intervalo de frecuencia, que es aproximadamente de un 6 por ciento; así, con doce intervalos consecutivos se dobla la frecuencia de partida, y se alcanza el primer armónico de dicha frecuencia. Dos notas espaciadas por doce intervalos tienen frecuencias doble o mitad, según la nota que tomemos como partida (Por ejemplo 80 Hz y 160 Hz).

En el teclado de piano de la figura 2 se puede observar como cada doce intervalos, integrados por siete teclas blancas y cinco negras, contiene un margen completo de frecuencias patrones; y como al pulsar la octava tecla blanca emite la frecuencia armónica de la primera tecla desde donde se comience a contar. En la música escrita cada una de las frecuencias patrones que reproducen las teclas blancas son designadas por las notas musicales Do, Re, Mi, Fa, Sol, La, Si, Do (C, D, E, F, G, A, B, C en la notación sajona). Hay que remarcar que, en realidad, son siete notas, mientras la octava tecla repite la misma nota ya que constituye el segundo armónico de la misma. Sobre consonancia y disonancia musical existen variados puntos de vista; hemos aprendido a apreciar ciertas combinaciones de acordes como consonantes y otras como disonantes, si bien ello es debido básicamente a las reglas y a las costumbres musicales. Normalmente una formación musical podrá variar nuestra experiencia subjetiva de consonancia o disonancia, un oído con una buena formación musical podrá percibir muchas cosas en la armonía que escaparán a los que no posean esta formación. Una vez dada cualquier nota musical, ¿Cuáles son los intervalos que serán consonantes con dicha nota?. Según las reglas clásicas de la armonía los intervalos consonantes son los siguientes: Nombre Distancia en semitonos Relación entre frecuencias Octava doce 2:1 Sexta Mayor nueve 5:3 Sexta menor ocho 8:5 Quinta siete 3:2 Cuarta cinco 4:3 Tercera Mayor cuatro 6:4 Tercera menor tres 5:4

En el gráfico número 3 se muestra la consonancia y la disonancia de dos tonos musicales. Cada uno de ellos contiene una frecuencia fundamental y cinco parciales armónicos; obsérvese como aparecen los picos de consonancia en los intervalos mencionados, siendo el que representa la octava el más pronunciado. En este gráfico la distancia horizontal mide la diferencia de frecuencias, o sea los componentes de las frecuencias con razón de 2 a 1 están separados por una octava.

ENMASCARAMIENTO La sonoridad en una reproducción musical puede verse afectada por el denominado efecto de enmascaramiento, que sucede cuando los sonidos se hallan muy próximos en frecuencia. Si tomamos, como ejemplo, un tono de 350 Hz con una sonoridad de 70 fones y otro tono de 5.000 Hz con el mismo nivel de sonoridad, tendremos un total de 80 fones, correspondiente a la suma de ambos valores. Pero si tenemos dos tonos con la misma frecuencia y sonoridad, la sensación auditiva al sonar los dos tonos simultáneamente no es el doble de la que produce uno de ellos, sino sólo ligeramente

superior. En consecuencia, la suma directa entre distintas sonoridades sólo es válida entre sonidos que estén suficientemente separados en frecuencia. Cuanto más cerca se encuentren dos frecuencias, más se influencian entre si, y la sonoridad total es inferior a la suma de las sonoridades de ambos tonos por separado. Este efecto recibe el nombre de enmascaramiento parcial, y puede llegar a ser total cuando haya además una gran diferencia de sonoridad entre ellos. Un sonido fuerte con una frecuencia determinada puede ocultar por completo a un sonido débil que tenga una frecuencia próxima al primero, de forma que el segundo ni se llegue a percibir. Este efecto se explica por el hecho de que cuando dos sonidos excitan los mismos nervios de nuestro oído interno, las células se mueven como respuesta a la excitación más fuerte mientras que no reaccionan ante la más débil. En la mayor parte de casos de enmascaramiento las frecuencias más bajas tienden a ocultar a las altas. Este efecto debe ser considerado cuando se realice cualquier labor de sonorización en potencia o bien un registro musical, ya que su desconocimiento nos puede acarrear resultados inesperados. La presencia de dos tonos simultáneos de frecuencias próximas se percibe en nuestros oídos como un único tono, recibiendo el nombre de intertono. Si estas dos frecuencias están suficientemente separadas, el oído percibe los tonos combinados de ambos (suma y diferencia de frecuencias), además de los dos tonos correspondientes. Nuestros oídos no son, pues, dispositivos lineales, ya que la presencia de tonos múltiples da lugar a la generación de las frecuencias suma y diferencia. Esto, en la audición musical, significa una distorsión fisiológica, que es tanto mayor cuanto más elevado es el volumen sonoro. Así en toda audición musical el oído trabaja con una notable cantidad de frecuencias, ya que añade a las reales las generadas por él mismo. EL TIMBRE MUSICAL El tono o altura de un sonido está determinado por su frecuencia fundamental, mientras que el timbre lo está por el número de frecuencias armónicas que contiene y las relaciones de fase entre ellas. El timbre es la característica que nos permite distinguir de que instrumento proviene un sonido determinado, aunque tenga el mismo tono. Así, si un violín y un piano emiten el Do de la cuarta octava, ambos tendrán la misma altura musical, correspondiente a una frecuencia de 261'6 hercios; pero el oído distinguirá perfectamente los dos instrumentos aunque ambos suenen a la vez, debido a los distintos armónicos secundarios que emiten. Hipotéticamente, si se emitiera la misma nota desde distintos instrumentos, y las hiciéramos pasar por los filtros adecuados que suprimieran todas las frecuencias armónicas, dejando sólo la frecuencia fundamental, a la salida del filtro todos los instrumentos sonarían igual y no sería posible distinguir unos de otros. Los sonidos musicales periódicos están formados por muchas componentes de frecuencia relacionadas armónicamente, los armónicos o parciales; cuyas frecuencias son múltiplos enteros de su frecuencia fundamental. Un sonido que contenga armónicos intensos de alta frecuencia sonará brillante y estridente; mientras que un sonido en el que predominen los armónicos de baja frecuencia no se percibirá tan brillante, sonando más bien mate y opaco.

Cuando escuchamos sonidos musicales en un equipo de sonido, se puede modificar el brillo variando el control de tono, pero esto no cambiará la altura de estos sonidos. El timbre depende de las intensidades relativas entre los armónicos de las distintas frecuencias; girando los controles de tono se puede modificar la proporción de los armónicos sin modificar la periodicidad del sonido (el tono), que es la misma de la frecuencia fundamental. OCTAVAS MUSICALES En la figura 4A se puede ver toda la gama de frecuencias fundamentales de los principales instrumentos acústicos, comparada con el piano de 88 teclas y con la designación gráfica de las notas y frecuencias.

Por acuerdo universal, se parte siempre de una frecuencia patrón de 440 Hz, designada como A4, y que corresponde a la tecla número 49 del piano convencional. Las octavas por encima de A4 quedan designadas

como A5, A6, y A7; mientras que las octavas por debajo de A4 se designan por A3, A2, A1 y A0, siendo esta última la nota inferior que corresponde a una frecuencia de 27'5 Hz. Las seis notas que comprende cada octava musical se designan con las letras B, C, D, E, F y G seguidas del subíndice que indica el orden de octava o armónico al que pertenecen. Por ejemplo, la nota más elevada que contiene el piano es la C8, que corresponde a una frecuencia de 4.186 Hz. No obstante el espectro musical completo empieza por la nota C0 (16'35 Hz) y termina en C10 (16.744 Hz), ambas son frecuencias extremas incluidas en los teclados convencionales, y a las que únicamente llegan algunos órganos de viento o sintetizadores electrónicos. Este es el orden y el

espectro total sobre el que está establecida la escala musical occidental, o escala diatónica. En la figura 4b se puede observar las notas e esta escala representadas como puntos a lo largo de una espiral ascendente. Las notas do, re, mi, fa, sol, la si y do se repiten una y otra vez alrededor de la espiral a medida que subimos por la escala; pero el do de la octava superior siempre está próximo al do de la octava inferior, y esto mismo sucede con las otras notas de la escala. TESITURA Y ARMÓNICOS La frecuencia fundamental de una nota musical viene determinada por su primer armónico, que es el componente que tiene una mayor amplitud en la onda sonora resultante. La tesitura de cualquier instrumento musical -o de la voz humana- se determina a partir de la gama de fundamentales que puede producir un instrumento determinado; considerándose armónicos a las frecuencias múltiples de estas fundamentales. Es interesante conocer con precisión donde empieza y termina la tesitura de un instrumento, así como también hasta donde llega la gama de armónicos que puede generar. De esta forma, cuando se trabaje en la ecualización de un instrumento determinado, podremos saber cuando estamos variando el valor de sus componentes fundamentales o bien el de sus armónicos. En el primer caso resultará afectada la propia tonalidad básica del instrumento, mientras que en el segundo sólo se cambiará la calidad tímbrica del mismo. Seguidamente, se incluyen los valores en frecuéncias que corresponden a la tesitura de los instrumentos musicales más usuales, y también cual es su extensión en armónicos: Tesitura Armónicos Violin: 175 - 3950 Hz. hasta los 16 kHz. Violoncello: 65 - 1320 Hz. hasta los 12 kHz. Guitarra: 165 - 1750 Hz. hasta los 10 kHz. Piano: 27'5 - 4190 Hz. hasta los 16 kHz. Flauta travesera: 220 - 2350 Hz. hasta los 15 kHz. Clarinete alto: 196 - 2530 Hz. hasta los 12 kHz. Saxo tenor: 280 - 1690 Hz. hasta los 8 kHz. Saxo soprano: 560 - 3000 Hz. hasta los 12 kHz. Trompeta en Do: 70 - 2090 Hz. hasta los 11 kHz. Tuba: 55 - 440 Hz. hasta los 6 kHz. Bombo: 48 - 65 Hz. hasta los 500 Hz. Caja: 50 - 175 Hz. hasta los 6 kHz. Timbal: 210 - 400 Hz. hasta los 8 kHz. ESTEREOFONIA Nuestros oídos funcionan de forma distinta a cómo lo hacen otros órganos duplicados, como por ejemplo los ojos. La luminosidad percibida no varía si se mira con un sólo ojo o con los dos, pero la sonoridad que se experimenta cuando se escucha con los dos oídos es mayor a cuando funciona uno solo de ellos. Los sonidos llegan de forma independiente por cada oído, y crean distintos efectos en diferentes partes de nuestro cerebro: no existe ninguna interferencia entre ellos. La diferencia de tiempo (o de fase) con que un sonido llega a cada uno de nuestros oídos es lo que nos permite averiguar la dirección de su procedencia, y localizar así un instrumento en un espacio. En las frecuencias más altas la diferencia de intensidad, entre lo que percibe un oído y otro, colabora también a establecer la procedencia de un sonido. La localización en el plano vertical está, en el ser humano, mucho menos desarrollada que la localización en el plano horizontal; es por ello que en cualquier sistema de amplificación las cajas acústicas deben emplazarse teniendo en cuenta este factor, si se desea dar una buena imagen estereofónica del concierto. REFLEXIÓN Y DIFRACCIÓN DEL SONIDO. Cuando las ondas sonoras chocan con una superficie de un material sólido o líquido pierden parte de su energía, que es absorbida por dicho material, y son reflejadas tal y como se indica en la figura 5A. Si la superficie que se interpone está constituida por un material duro y con la superficie pulida, la energía que este material absorbe es mínima y la intensidad del sonido reflejado es casi la misma que la del sonido incidente. Cuando esta superficie es de un material blando y poroso, una buena parte de la energía sonora es absorbida, y la intensidad del sonido reflejado es muy inferior a la del sonido incidente. Se puede decir, en estos casos, que la energía perdida por las ondas sonoras ha sido absorbida por la superficie del material.

El comportamiento de las ondas sonoras cuando inciden en una superficie que no es plana es muy parecido al que tienen las ondas de luz. La figura 5B nos puede dar una idea al respecto. Si el sonido se refleja en una superficie cóncava resulta posible la convergencia de las ondas sonoras en un punto determinado, que recibe el nombre de foco acústico. Esta particularidad es aprovechada en muchos auditorios para concentrar el sonido que emana de puntos muy cercanos al foco acústico sobre el patio de butacas. Si la superficie de reflexión es convexa, las ondas reflejadas esparcen el sonido por un espacio mucho mayor que el que ocupan las ondas incidentes, disminuyendo su intensidad por unidad de superficie. En todos los casos, tal como está gráficamente expuesto en la figura 6, el ángulo de reflexión es siempre igual al ángulo de incidencia; tal y como postula el Principio de Huygens.

Cuando una onda sonora tropieza con un obstáculo sólido, ésta tiende a curvarse para rodearlo y seguir su camino, resultando un cambio en la dirección de propagación, tal como podemos ver en la figura 7. A este fenómeno se lo conoce como difracción acústica. Se ha podido comprobar como las bajas frecuencias rodean los obstáculos con mayor facilidad que las altas frecuencias. Como norma general, se sabe que cuando las dimensiones del obstáculo son iguales o mayores que una longitud de onda determinada, una parte de las ondas sonoras es reflejada por el obstáculo mientras que otra parte lo rodea.

Otro de los aspectos derivados de la difracción acústica, y que también tiene su importancia en la reproducción sonora, es el que se muestra en la figura 8, y tiene lugar cuando las ondas sonoras encuentran una superficie

sólida en la que existe un orificio, a través del cual se propagan de forma esférica, siempre que el diámetro de este orificio sea inferior a la longitud de onda del sonido incidente. De esta manera el orificio se comporta como una fuente sonora secundaria, debido a que cada punto del orificio de paso se comporta como un punto sólido, al cual las ondas rodean por difracción. Hay que tener en cuenta que aquellas frecuencias cuya longitud de onda sea mayor que el diámetro del orificio no podrán atravesarlo, y serán reflejadas por el resto de la superficie. Los fenómenos de reflexión y difracción sonora deben tenerse muy presentes cuando se esté sonorizando cualquier espacio que contenga columnas en su interior, o

cualquier tipo de obstáculos só1idos que se interfieran en el camino de las ondas sonoras. En todos estos casos será preciso que se disponga con especial cuidado la colocación de las cajas acústicas, para tratar que el eje de los altavoces no coincida, en ningún caso, con ninguno de estos obstáculos; evitando en lo posible el exceso de reflexiones por este motivo. LA ABSORCIÓN ACÚSTICA Cuando una onda sonora tropieza con una pared o con un obstáculo, parte de su energía es absorbida por el obstáculo mientras que el resto es reflejada. La energía que es absorbida será mayor o menor según la naturaleza del material con que tropieza. Una superficie rugosa es siempre mas absorbente que una superficie lisa de un mismo material. El concepto del coeficiente de absorción fue desarrollado por el Dr. Wallace Sabine, considerado como el padre de la arquitectura acústica actual. Sabine definió que una ventana abierta que no refleja ningún sonido actúa como un absorbente perfecto, asignándole un coeficiente de absorción 1 (+-100 %). De igual forma una superficie que refleja todo el sonido que incide sobre ella tendrá un coeficiente de absorción 0, si bien ninguna superficie real cumple este requisito, ya que cualquier material es acústicamente absorbente, aunque presente un porcentaje muy bajo. En consecuencia, la energía reflejada es siempre menor que la energía incidente. Esta energía perdida por la onda sonora ha sido absorbida por la superficie del material. Se deduce pues que la absorción sonora es la inversa de la reflexión sonora; para un determinado material el coeficiente de absorción es: C.Ab. = Ia/Ir, siendo Ia el sonido absorbido y Ir el sonido incidente. Si se conoce el coeficiente de absorción de un material, nos es posible conocer el porcentaje de sonido que este material va a reflejar. Por ejemplo, consideremos que la pared situada delante de los altavoces es de un material que posee un coeficiente de absorción del 0'18; para determinar el sonido que va a ser reflejado después de incidir sobre esta pared operamos así: 1º) Convertimos el coeficiente en un porcentaje: 0'18 = 18% Esta cifra indica que el 18% del sonido incidente será absorbido por este material. 2$) Obtendremos el sonido que ha sido reflejado mediante una resta: 100 - 18 = 82%. El 82% del sonido que incida sobre la pared será reflejado. Este efecto de absorción no es el mismo para todas las frecuencias, y resulta que algunos tonos parecen reforzarse con relación a otros que son amortiguados en exceso, dando así lugar al fenómeno conocido como coloración musical. Las alfombras, cortinas, tapices o moquetas, materiales que suelen ser considerados muy absorbentes, no lo son sino a frecuencias altas y medio-altas. La colocación de cortinajes puede absorber más del 50% de la energía acústica que incida sobre ellos a la frecuencia de 4000 hercios; pero sólo absorberá un 7% de las frecuencias que estén alrededor de los 125 hz.; y menos aún si se trata de frecuencias más bajas. La absorción de los tonos medios se obtiene principalmente con mobiliario de tipo blando, sofás, sillones

y alfombras gruesas; mientras que el mobiliario liso de madera presenta una buena absorción a las frecuencias altas (por encima de 2500 hz). Otros materiales con los que se procura la absorción de los tonos agudos son las cortinas delgadas, además de varios materiales de fibra suelta. Los tabiques y los cielo rasos, como los suelos de cemento o de mosaico, presentan un coeficiente de absorción muy bajo para todas las frecuencias. Para los tonos más graves el mejor absorbente son las aberturas puertas o ventanas, ya que el vidrio corriente presenta un alto coeficiente de absorción a estas frecuencias. La presencia de personas en un local modifica notablemente la sonoridad del mismo, ya que la capacidad de absorción acústica del cuerpo humano es bastante notable. COEFICIENTES DE ABSORCIÓN Es preciso conocer cuales son los coeficientes de los materiales y rellenos más comunes para poder realizar cualquier acondicionamiento acústico, contando entre ellos con las personas del público, sillas, cortinajes, etc. No obstante, nos encontramos con el problema añadido de que cada material presenta un coeficiente de absorción distinto según las distintas frecuencias sonoras que incidan en él. Por ello se indica, en la tabla de coeficientes de absorción, cuales son los valores que toman para tres frecuencias distintas:

Existen hoy en el mercado numerosos materiales de construcción y revestimiento controlados acústicamente, que ofrecen unos coeficientes de absorción muy notables para ciertas frecuencias. Mediante la combinación de estos materiales nos es posible conseguir una absorción equilibrada en todas las frecuencias, y así reducir el fenómeno de la coloración musical que siempre resulta molesto, ya que falsifica el equilibrio que debiera existir entre los tonos que componen un pasaje musical. Como muestra de las características acústicas de estos materiales, veamos a continuación los valores de absorción que presentan algunos de ellos:

La manera más precisa de mesurar el total de absorción acústica que presenta un recinto a todas las frecuencias, es con la utilización de un analizador de espectro en tiempo real. Si no se dispone de este aparato es posible lograr una aproximación bastante fiable con un poco de paciencia, si se cuenta con una cinta métrica y con los coeficientes de absorción de los materiales contenidos en el recinto. Así, podremos conocer si existe una mayor absorción de unos tonos con respecto a otros, y corregir el desequilibrio en lo posible. LA REVERBERACIÓN Cuando se emite un sonido al aire libre, lejos de cualquier obstáculo, las ondas sonoras se propagan en todas direcciones hasta perderse, de forma que nuestros oídos sólo perciben una sola vez la vibración sonora emitida. Cuando la emisión del sonido ocurre en un espacio limitado por paredes o accidentes del terreno, las ondas sonoras se reflejan y regresan al punto de partida (figura 9). En un local cerrado podemos percibir, además del sonido directo, el que resulta de las múltiples reflexiones que se originan. Supongamos que la fuente de un sonido deja de emitir; las últimas ondas sonoras seguirán reflejándose de una pared a otra durante algún tiempo, perdiendo energía en cada reflexión. Finalmente toda la energía sonora

se desvanece y el sonido cesa. Cuando una fuente de sonido deja de emitir nuestros oídos pueden seguir percibiéndolo durante un tiempo determinado, que puede ser mesurado: es el tiempo de reverberación. Este tiempo es el período requerido para que la percepción de un sonido, en un local cerrado, disminuya su intensidad hasta una millonésima parte de su valor inicial, cuando el sonido ya ha sido interrumpido. Esto equivale a un amortiguamiento de 60 decibelios. El tiempo de reverberación depende de la frecuencia central de los sonidos emitidos, y muy especialmente de las dimensiones y de los condicionantes acústicos del local. Una reverberación corta o moderada en una ejecución musical cuyo equilibrio espectral sea más bien suave, por ejemplo una pieza de música de cámara, es percibida como agradable y natural. Un tiempo de reverberación excesivo puede dificultar el entendimiento de la palabra, y hasta impedir el goce de la audición musical. Posiblemente, muchos de nosotros hemos experimentado como es la audición musical en locales poco apropiados (Palacios de deportes, campos de baloncesto, antiguos almacenes, etc.), y ya tengamos constancia de la dificultad de lograr un buen sonido en estos recintos con una reverberación irregular, que impide la inteligibilidad musical en cualquier concierto.

MEDIR LA REVERBERACIÓN. En la figura 10 se muestran los márgenes de tiempos de reverberación más adecuados para la audición musical (A) y para la audición de la palabra (B), relacionados con el volumen del auditorio en metros cúbicos. Como ejemplos prácticos cabe mencionar que el Teatro de la Opera de Bayreuth, considerado uno de los que posee mejor acústica a nivel mundial, tiene un tiempo de reverberación de 2'2 sg.; y que en el Royal Albert Hall

de Londres el tiempo de reverberación llega a los 2'9 segundos. Ambos valores entran dentro de lo conveniente, como se puede ver en el gráfico 10, teniendo en cuenta el elevado volumen que poseen estos auditorios. En ambos casos se supone que estos recintos están ocupados por el público, en los 2/3 de su capacidad total. El tiempo de reverberación es, pues, el parámetro más importante para evaluar la calidad acústica de un local. La forma más sencilla de obtener este tiempo es mediante la utilización de un sonómetro; si bien con la ayuda de un analizador de espectro se pueden obtener mesuras más precisas. El analizador nos permite conocer cuál es la reverberación en todas las frecuencias, separadamente; mientras que el tiempo que nos indica un sonómetro es un promedio de los tiempos de reverberación de las frecuencias medias.

Existen diversas fórmulas matemáticas que permiten obtener, con bastante aproximación, el tiempo de reverberación de cualquier recinto. Todas ellas se derivan de la fórmula que Sabine propuso a finales del siglo XIX: T Rev.= 0'16 x Vol/ Sa (**) Siendo Vol. el volumen de la sala expresado en metros cúbicos, y Sa(**) la suma de todos los coeficientes de absorción expresados en sabin, una unidad que indica la absorción absoluta de una superficie de un pie cuadrado, y que se suele utilizar en los países de influencia anglosajona. La ecuación de Sabine es bastante precisa en aquellos recintos con un tiempo de reverberación igual o superior a los 2 segundos, pero se hace menos exacta a medida que el coeficiente se acerca a la unidad. Por otra parte, se debe tener en cuenta que cuando se calcula el Tiempo de Reverb. de un local con materiales muy absorbentes, el sonido desaparece al cabo de muy pocas reflexiones, con lo que nuestra base estadística se estrecha. De una manera similar, en una sala de grandes proporciones el sonido no puede cruzar todo el recinto muchas veces mientras se efectúa la medida, por lo que la validez de la fórmula propuesta por Sabine queda afectada. Varias aproximaciones posteriores, con el fin de salvar esta dificultad, fueron realizadas por físicos y matemáticos; entre todas cabe destacar la realizada por Eyring: T. Rev. = 0'049 x Vol / -S x ln (l-**) Siendo S el área total (en metros cuadrados) de las paredes del recinto, ** el coeficiente medio de absorción de estas paredes, y el término ln se refiere al logaritmo neperiano que toma como base 2'7182. La precisión de esta fórmula es muy notable, y debe ser empleada cuando se precise obtener un resultado fiable. No obstante, cuando no exista un compromiso demasiado riguroso, bastará con aplicar la fórmula que propuso Bergtold, adecuada para hallar el T. de Reverb. de un local de dimensiones reducidas, como pequeños estudios de sonido, locales de ensayo, bares y auditorios con poca capacidad, entre otros.

T. Rev. = Volumen en m3./ 6 x Absorción total Como ejemplo de la utilización de la fórmula de Bergtold, procedemos al acondicionamiento acústico de una sala de 4'5 m. de largo por 3 m. de ancho y 2'7 m. de alto; con una puerta de 0'7 x 2'10 m. y una ventana de 2 x 1'5 m. El volumen del recinto propuesto será de: 4'5 x 3 x 2'7 = 36'5 m3. Para los cálculos se escogen los coeficientes de absorción a 500 hercios, aunque si conviniera podrían utilizarse otras frecuencias y así obtener los tiempos de reverberación a distintas frecuencias. Primero se calcula toda la superficie interior expuesta a las ondas sonoras, a excepción del suelo de terrazo (su coeficiente es de 0 '01 ). La suma de esta superficie nos da un total de 54 m2, así tenemos: 54 x 0'03 = 1'62 unidades de absorción. En este cálculo se incluye el techo de cielo raso, ya que presenta el mismo coeficiente que las paredes. La puerta tiene 1'47 m2, por lo que su diferencia con el coeficiente ya calculado es: 0'35 - 0'03 = 0'32; hay pues un aumento de 1'47 x 0'32 = 0'47 unidades de absorción. Supongamos que todo el suelo presente un total de 0'12 unidades de absorción; el total de esta sala será, si se añade el coeficiente de la ventana (3 m2 x 0'18 = 0'54 ) el siguiente: 1'62 + 0'47 + 0'12 + 0'54 = 2'75 unidades. El tiempo de reverberación de este recinto vacío será de: T. Rev. = 36'5 / 6 x 2'75 = 2'21 segundos Si se observa el gráfico 10 se hallará que el tiempo de reverberación para una sala de 40 m3. (por aproximación) es de 1'75 segundos. El recinto examinado producirá excesivos rebotes y ecos pronunciados, pero tal vez cuando estén las personas en su interior, el tiempo de reverberación será el ideal. PROTECCIÓN AUDITIVA Los ruidos de alta intensidad producen efectos nocivos sobre nuestros órganos auditivos, pudiendo desencadenar sorderas permanentes. Se ha podido comprobar como el oído humano va perdiendo sensibilidad a medida que avanza la civilización industrial; mientras que algunos pueblos primitivos que aún subsisten poseen una capacidad superior para percibir sonidos muy leves. La respuesta a un estímulo sonoro en el oído es prácticamente instantánea (2'5 milisegundos), bastan pocos ciclos de una onda sonora para que todo el sistema auditivo reaccione. Para preservar nuestros órganos auditivos de las grandes variaciones de presión producidas por los ruidos intensos, el oído posee un sistema de protección. Cuando aparece un sonido muy fuerte, un músculo pone en tensión el tímpano para reducir su capacidad vibratoria, mientras que otro músculo modifica la posición de los huesecillos del oído medio para alterar su ángulo de incidencia y disminuir la fuerza aplicada sobre el oído interno. Todo funciona como si se tratara de un control de ganancia automática. No obstante, las lesiones auditivas pueden producirse cuando un ruido muy fuerte aparece de forma brusca, no dando tiempo de que estos músculos protectores se activen. El umbral de audición -el sonido más leve que se puede percibir- se desplaza a niveles más elevados después de que el oído se haya visto sometido a presiones sonoras superiores de las habituales. La percepción diaria y continuada de sonidos con niveles superiores a 80 decibelios, puede ocasionar un desplazamiento permanente de nuestro umbral de audición. Esto supondría una pérdida de nuestra capacidad auditiva; y a causa del daño causado en el oído interno esta pérdida acostumbra a ser irreversible. La sonorización de las discotecas es un ejemplo típico de presiones acústicas muy elevadas. Aunque se trate de componentes de alta calidad, nuestros oídos soportan difícilmente estos altos niveles sonoros; el ambiente y la música distraen nuestra atención de las leves molestias auditivas que se suelen percibir durante los primeros minutos, ya que más tarde nuestros oídos parecen acostumbrarse al elevado nivel de sonoridad. Esta conformación auditiva suele ser más aparente que real, y en el futuro nos puede pasar una triste factura. Es conocida la sensación que se experimenta, cuando al salir de una discoteca o de un concierto de rock nos damos cuenta de que tenemos los oídos como taponados. Hasta al cabo de un buen rato la sensación de sordera parcial no nos abandona, y se vuelve a gozar de una audición normal. El nivel sonoro de muchas discotecas, así como también de numerosos conciertos, está entre los 105 y los 115 decibelios. El tiempo máximo de exposición a estos niveles, sin pérdida auditiva, oscila entre los 15 y los 60 minutos diarios. Es fácil comprender el evidente riesgo que corre nuestro sistema auditivo; y de cómo si no se toman medidas preventivas nos encaminamos hacia la proliferación de las sorderas parciales. Tanto el músico como el técnico de sonido tiene en sus oídos uno de sus bienes más preciados; es por ello que es recomendable el uso de tapones acústicos cuando se prevean largas sesiones musicales con altos niveles de presión sonora. En la tabla que sigue a continuación se muestran los tiempos máximos de exposición a distintas intensidades sonoras. El sobrepasar estos márgenes de tiempo pone en un riesgo evidente nuestra salud auditiva, además

de elevar nuestro umbral de audición por encima del nivel normal, con la consiguiente pérdida de dinámica que ello conlleva para nuestros oídos.

����������<� �

+)�%*�,�+&)�**5�3?>?35�3?>�5CD5�>?=2B5�1�3E1<AE95B�1@1B1D?�31@1J�45�3?>F5BD9B�5>5B7W1�6WC931�5>�5>5B7W1�5<V3DB931�?� F935F5BC1�� '?B� 5:5=@<?�� <1C� 6?D?3V<E<1C� AE5� <<5F1>� <1C� 3S=1B1C� 6?D?7BS6931C� 3?>F95BD5>� <1� <EJ� 5>5>5B7W1�5<V3DB931��C?>�DB1>C4E3D?B5C�45�D9@?�<E=W>93?�>�<?C�C9CD5=1C�45�C?>94?�@?45=?C�49CD9>7E9B�4?C�31D57?BW1C�2SC931C�45�DB1>C4E3D?B5C��45�5>DB141�I45�C1<941�#?C�DB1>C4E3D?B5C�45�5>DB141�3?>F95BD5>�E>1�F92B139[>�C?>?B1�5>�E>1�C5Y1<�5<53DB[>931�451E49?��45>DB? 45�5CD1�31D57?BW1�5>3?>DB1=?C�D?4?C�5CD?C�1@1B1D?C��,&3B)1014�'(�23(4,B0�1�'(�7(.1&,'$'��AE5�3?>F95BD5>� <1C�?>41C�C?>?B1C�AE5� <<571>�1� DB1FVC�45<19B5�5>�F92B139?>5C�6WC931C��<1C�3E1<5C�C?>�DB1>C6?B=141C�5>�5<�9>D5B9?B�45<�=93B?�5>�E>1�C5Y1<�5<V3DB931�>246.$4�'(�&105$&51�� DB1>C6?B=1>� <1C�F92B139?>5C�C?>?B1C�AE5� D95>5>� <E71B�5>�E>�=1D5B91<�45>C?�=145B1��=5D1<��5>�E>1�C5Y1<�5<V3DB931�45�1E49?�>246.$4�/$*0?5,&$4��3?>F95BD5>� <1C�6<E3DE139?>5C�45�E>�31=@?�=17>VD93?�5>�E>1�C5Y1<�45�1E49?�<1C�@1CD9<<1C�45�<1C�7E9D1BB1C�5<V3DB931C�5CDS>�5AE9@141C�3?>�5CD5�D9@?�45�DB1>C4E3D?B5C�?.6.$4� B25,&$4��=5491>D5� E>�81J�45� <EJ� C?>� 31@135C�45� DB1>C6?B=1B� <1C� F1B9139?>5C�45�45>C9414<E=9>?C1�5>�E>1�C5Y1<�45�1E49?��C5�ED9<9J1�5>�<1�21>41�C?>?B1�45�<1C�@5<W3E<1C�$%(;$.(4� /$*0?5,&14�� AE5� 3?>F95BD5>� 6<E3DE139?>5C� =17>VD931C� 9=@B5C1C� 5>� E>1� 39>D1� 5>F1B9139?>5C�45�F?<D1:5��C5�ED9<9J1�5>�D?4?C�<?C�C9CD5=1C�45�B5@B?4E339[>�45�39>D1�=17>VD931#?C�DB1>C4E3D?B5C�45�C1<941�=SC�ECE1<5C�5>�<?C�C9CD5=1C�45�1=@<9693139[>�C?>?B1 C?>�<?C�C97E95>D5C��.5$71&(4�'(�$.5$�215(0&,$��C?>�<?C�AE5�C5�ED9<9J1>�5>�D?4?�D9@?�45�B5@B?4E339[>�=EC931<�1�49CD1>391�?>F95BD5>�<1�C5Y1<�45�1E49?�1=@<9693141�5>�F92B139?>5C�6WC931C��=5491>D5�5<�=?F9=95>D?�AE5�<1�2?29>19=@B9=5�1�<1�=5=2B1>1�45<�1<D1F?J�*5�@E545>�49CD9>7E9B�DB5C�31D57?BW1C�2SC931C���<D1F?35C�@1B1�1<D1C6B53E5>391C��5>DB5� �I����; J���@1B1�6B53E5>391C�=5491C��45�����1� ���� J���I�@1B1�21:1C�6B53E5>391C�5>DB5� ��I����� J��.5$71&(4� '(� %$-$� 215(0&,$�� C?>� <?C� AE5� ECE1<=5>D5� <<5F1>� <?C� 1EB93E<1B5C� 5>� CE� 9>D5B9?B� *?>31@135C�45�B5@B?4E39B�E>1�1=@<91�71=1�45�6B53E5>391C��5>DB5�<?C���� J�I�<?C����; J�1@B?H��1E>AE5CE�9>D5>C9414�C?>?B1�5C�B54E3941

����%���N*!�������$'#!�!���!Q%�*&%&)��>�<1�697EB1�>L���C5�@E545�?2C5BF1B�<1�3?>CD9DE39[>�45�E>�C9CD5=1�2SC93?�45�1=@<9693139[>�C?>?B1��CD5C9CD5=1�@E545�49F949BC5�5>�DB5C�7BE@?C�2SC93?C��+B1>C4E3D?B5C�45�5>DB141��@B?35C14?�45� <1�C5Y1<��IDB1>C4E3D?B5C�45�C1<941!3$04'6&513(4�'(�(053$'$�� #?C� DB5C�=93B[6?>?C�45� <1� 697EB1�3?>F95BD5>� <1C�F92B139?>5C�C?>?B1C�5>C5Y1<5C�45�1E49?��AE5�C?>�5>F9141C�1�DB1FVC�45<�312<514?�81391�5<�7BE@?�45�@B?35C14?�45�<1�C5Y1<�31&(4$'1�'(� .$� 4(@$.�� #?C�=93B?C� 5CDS>� 3?>53D14?C�1� <1C�5>DB141C�45� <1�=5C1�45�=5J3<1C��AE55653D\1� <1C� 6E>39?>5C� 45� @B51=@<9693139[> �1=@<9693139[>� 45� <1� C5Y1<� 5>� F?<D1:5��� 53E1<9J139[>�3?BB5339[>�45<�5AE9<92B9?�D?>1<���I�=5J3<1�#1�C1<941�45�<1�=5C1�5CDS�3?>53D141�3?>�E>�1=@<969314?B�45@?D5>391��3EI1�=9C9[>�5C�<1�45�1=@<96931B�<1�C5Y1<�5>�@?D5>391��45�6?B=1�AE5�VCD1�C51�31@1J�45�=?F5B<?C�1<D1F?35C!3$04'6&513(4�'(�4$.,'$��#?C�1<D1F?35C�C?>�<?C�AE5�3?>F95BD5>��<1�C5Y1<�45�1E49?��E>1�F5J�81�C94?1=@<9693141��5>�F92B139?>5C�C?>?B1C��45�D1<�6?B=1�AE5�5<�>9F5<�45�@B5C9[>�C?>?B1�CE5<5�C5B�=1I?B�1�<1C1<941�45�<?C�1<D1F?35C�AE5�1>D5�<?C�=93B[6?>?C+?4?C�<?C�C9CD5=1C�45�1=@<9693139[>�C?>?B1�B5C@?>45>�1�5CD5�=?45<?�2SC93?��@?B�=SC�5<5=5>D?C�AE5<?�3?>697EB5>�C95=@B5�C97E5>�5CD5�5CAE5=1�#1�31<9414�45�3E1<AE95B�C9CD5=1�5CDS�C95=@B5�5>��6E>39[>45<�5<5=5>D?�AE5�D5>71�E>1�31<9414�9>65B9?B��5C 4539B�� <1C�3E1<94145C�DV3>931C�45�D?4?�E>�C9CD5=1�451=@<9693139[>�5CDS>�<9=9D141C�@?B�5<�5<5=5>D?�AE5�D5>71�E>1�31<9414�9>65B9?B�/�5<�5<5=5>D?�4?>45�E>13145>1�C?>?B1�5=@95J1�CE�6E>39[>�5C��:ECD1=5>D5��5<�=93B[6?>?

��)��+�)P*+!��*��!)���!&%�#�*,>�=93B[6?>?�5C�E>�DB1>C4E3D?B�31@1J�45�3?>F5BD9B� <1C�F92B139?>5C�C?>?B1C�5>�F1B9139?>5C�45�F?<D1:55AE9F1<5>D5C��CD1C�F1B9139?>5C�5<V3DB931C�B53925>�5<�>?=2B5�45�C5Y1<�45�1E49?�E1>4?�C5�812<1�1>D5�E>�=93B[6?>?��<1C�?>41C�C?>?B1C�38?31>�3?>�1<7\>�D9@?�45�=5=2B1>1�C5>C92<51� <1� 456?B=139[>�� <<1=141� 4916B17=1�� @B?4E395>4?� E>� =?F9=95>D?� 5<SCD93?� 45� F19FV>� AE5� 5CDB1>C6?B=14?�5>�E>1�3?BB95>D5�5<V3DB931��@B?@?B39?>1<�1�<1C�@B5C9?>5C�AE5�B53925�49381�=5=2B1>1%?�D?4?C�<?C�=93B[6?>?C�B53?75>�5<�C?>94?�45�<1�=9C=1�6?B=1��I1�AE5�C57\>�<1�6E>39[>�1�AE5�5CDS>45CD9>14?C�3?>F95>5�AE5�D5>71>�E>1�=1>5B1�45D5B=9>141�45�31@D139[>�E�?DB1��<7E>1C�3S@CE<1C�45=93B[6?>?C� B53?75>� 3?>� <1�=9C=1� 9>D5>C9414�E>� C?>94?�AE5�F5>71�45�45<1>D5�45<�=93B?�I�?DB?�AE5@B?F5>71�45�E>�<14?�?�45 45DBSC�45<�=93B[6?>?��4938?�45�?DB1�6?B=1��B53?75>�3?>�<1�=9C=1�9>D5>C94143E1<AE95B�C?>94?�F5>71�45�E>1�49B5339[>�E�?DB1&DB?C�=93B[6?>?C�5CDS>�49C5Y14?C�@1B1�AE5�31@D5>�3?>�@B565B5>391�<?C�C?>94?C�AE5�@B?F5>71>�45�E>149B5339[>�3?>3B5D1��I�?DB?C�AE5�5CDS>�49C5Y14?C�@1B1�31@D1B�<?C�C?>94?C�AE5�<5�<<571>�45�45<1>D5��I�451DBSC��@5B?�AE5�>?�31@D1>�<?C�AE5�<<571>�45�<?C�<14?C#1C� 31B13D5BWCD931C� 49B5339?>1<5C� 2SC931C� 45� <?C� =93B[6?>?C� C5� 3?>?35>� 3?>� <?C� >?=2B5C� 45�?=>949B5339?>1<��E>949B5339?>1<�?�31B49?945��I�2949B5339?>1<�?�3?>�697EB1�45�?38?#1� B5C@E5CD1� 49B5339?>1<� 45� E>� =93B[6?>?� AE541� =5:?B� 4569>941� 3?>� � 5<� 1EH9<9?� 45� E>?C� 7BS693?C<<1=14?C� 4917B1=1C� @?<1B5C�� AE5� � 3?>C9CD5>� 5>� E>1C� 3EBF1C� AE5� =E5CDB1>� <1� C5>C929<9414� 45<=93B[6?>?� 3?>� B5C@53D?� 1<� S>7E<?� 45� 9>3945>391� 45� <1C� ?>41C� � C?>?B1C� C?2B5� <1� =5=2B1>1� 45<=93B[6?>?�1�49CD9>D1C�6B53E5>391C�C�@?C92<5�3?>CDBE9B�E>�=93B[6?>?�3?>�4?C�?�=SC�3S@CE<1C�45�31@D139[>�� <1C�C1<941C�3?=29>141C�45

<1C� 3E1<5C� @5B=9D1>� C5<5339?>1B� 5<C9CD5=1� 45� 31@D139[>� AE5� =SC9>D5B5C5�1<�ECE1B9?

�/0,',3(&&,10$.�� �<� 4916B17=1� 455CD?C�=93B[6?>?C�5CDS�69:14?�1<B5454?B45� E>1� 3S=1B1� 45� 19B5� AE5@5B=1>535� 5CD1>3141�� 4?>45� <1@B5C9[>� 5C� @BS3D931=5>D5� 3?>CD1>D5�>� 5<� <14?� 45<� 4916B17=1� 1295BD?� 1<5HD5B9?B� 5C� 4?>45� <?C� C?>94?C AE5<<571>� 1<� =93B[6?>?� 8135>� F92B1B� <1=5=2B1>1�45<�4916B17=1��>�<1�697EB1 �C5�=E5CDB1�E>1�3S@CE<1�=93B?6[>931?=>949B5339?>1<� �?=?� 5CD5� D9@?� 45=93B?C� C?>� 9=@B5C9?>14?C� @?B� <?C31=29?C�45�@B5C9[>�AE5�CE3545>�5>�5<19B5�� C?>� D1=29V>� 3?>?394?C� 3?>� 5<>?=2B5� 45� =93B[6?>?C� 45� @B5C9[>

�?=?�5CD?C�31=29?C�45�@B5C9[>�CE3545>�F5>71�5<�C?>94?�45�E>1�49B5339[>�E�?DB1��9>49CD9>D1=5>D5��<131@D139[>�45�5CD1�3S@CE<1�C5BS�?=>949B5339?>1<�?>F95>5�� >?� ?2CD1>D5�� D5>5B� 5>� 3E5>D1� AE5�45294?�1� <1�@B?@91�5CDBE3DEB1� 6WC931�45� <1� 3S@CE<1��E>1@<5>1� B5C@E5CD1�?=>949B5339?>1<�>?�5C� 6S39<� 45�?2D5>5B��>�5653D?��ECE1<=5>D5� <1C� 6B53E5>391C�=SC1<D1C�AE5�<<571>�1<�=93B?�45C45�<?C�<14?C�?�45C45�1DBSC�>?�C?>�31@D141C�3?>�<1�=9C=1�9>D5>C9414�AE5C9� F9>95B1>� 45� 45<1>D5� 45<� =93B?� '?B� 6?BDE>1� 5CD?� CE3545� D1>� C[<?� 3?>� <1C� 6B53E5>391C� =EI� 1<D1C�=95>DB1C�AE5�5<�3?=@?BD1=95>D?�?=>949B5339?>1<�3?>�5<�B5CD?�45�6B53E5>391C�CE5<5�C5B�C1D9C613D?B9?#?C�=93B[6?>?C�?=>949B5339?>1<5C�>?�@B5C5>D1>�5<��5653D?�45�@B?H9=9414��AE5�5C�@B?@9?�45�<?C�=93B?CE>949B5339?>1<5C�I�2949B5339?>1<5C�>� <1� 697EB1� �� C5� =E5CDB1� 5<� 4917B1=1� @?<1B� 45� E>� =93B[6?>?� 3?>� 31@D139[>� ?=>949B5339?>1<&2CVBF5C5� AE5� <1� 3EBF1� 45� B5C@E5CD1� 5CDS� DB1J141� C?2B5� E>� 3WB3E<?� 49F9494?� 5>� 39B3E>65B5>391C3?>3V>DB931C��AE5�B5@B5C5>D1> <?C�49CD9>D?C�>9F5<5C�45�31@D139[>�3?>�B5<139[>�1<�>9F5<�=SH9=?

�,',3(&&,10$.�� #1C� 3S@CE<1C� 45� <?C� =93B[6?>?C� 2949B5339?>1<5C� ED9<9J1>� E>� 4916B17=1� AE5� 5CDS5H@E5CD?�1�<1C�?>41C�C?>?B1C�@?B�CEC�4?C�31B1C��E1>4?�E>�C?>94?�<<571�@5B@5>493E<1B=5>D5�1�E>145� <1C� 31B1C� 45<� 4916B17=1�� VCD5� 5C� 31@D14?� @5B653D1=5>D5� @?B� 5<� =93B[6?>?�� B53?75� 3?>� 97E1<C5>C929<9414� <1C� ?>41C� C?>?B1C� @B?3545>D5C� 45<� 6B5>D5� I� 45� <1� @1BD5� @?CD5B9?B� %?� ?2CD1>D5� 5CD?C=93B[6?>?C� C?>� 9>C5>C92<5C� 1� <?C� C?>94?C� AE5� @B?F5>71>� 45� <?C� <14?C� M'?BAEV� CE3545� 5CD?�� #1697EB1���=E5CDB1�E>1�3S@CE<1�45�E>�=93B?�2949B5339?>1<��3E1>4?�5<�C?>94?�<<571�45�E>?�45�<?C�<14?C�45<1�=9C=1�5:5B35�<1�=9C=1�@B5C9[>�C?2B5�<1C�4?C�31B1C�45<�4916B17=1��1<�>?�8125B�4965B5>391�45�@B5C9[>5<�4916B17=1�>?�C5�=?F5BS�I�>?�31@D1BS�C?>94?�1<7E>?

�CD5� D9@?�45�=93B[6?>?C�?@5B1>�7B1391C�1� <1�4965B5>391�45�@B5C9[>�AE5�5H9CD5�5>DB5� <?C�4?C� <14?C�45<4916B17=1�� @?B� 5<<?� C?>�3?>?394?C� D1=29V>�3?>�5<�>?=2B5�45�=93B[6?>?C�45�7B1495>D5�45�@B5C9[>�I@B5C5>D1>��5>�3?>C53E5>391��5<�<<1=14?��5653D?�45�@B?H9=9414��>� <1� 697EB1� �� C5� @E545� F5B� 5<� 4917B1=1� @?<1B� DW@93?� 45� E>� =93B[6?>?� 3?>� 5CD1C� 31B13D5BWCD931C49B5339?>1<5C�#1�6?B=1�45�?38?�AE5�CE5<5>�D?=1B�8135�AE5�5CD?C�=93B?C�C51>�3?>?394?C�D1=29V>�3?>5<�>?=2B5�45��6?B=1�45�?38?���5>�B565B5>391�1�5CD1�@1BD93E<1B�6?B=1�45�31@D139[>

�,3(&&,10$.��#?C�=93B[6?>?C�AE5�@B5C5>D1>�5CD5�D9@?�45�31@D139[>�6E>39?>1>�7B1391C�1�<1C�4965B5>391C45� @B5C9[>� AE5� 5H9CD5>� 1� <?C� 4?C� <14?C� 45<� 4916B17=1� &@5B1>� C57\>� 5<� @B9>39@9?� 45<� 7B1495>D5� 45@B5C9[>�<�6E>39?>1=95>D?�45<�=93B[6?>?�49B5339?>1<�5C�@1B5394?�1<�2949B5339?>1<��1�5H35@39[>�45<�B5D1B4?�AE5C97E5>�<?C�C?>94?C�1>D5C�45�<<571B�1�<1�@1BD5�@?CD5B9?B�45<�4916B17=1��141�612B931>D5�@?C55�E>�49C5Y?5C@5391<� @1B1� CEC� =93B?C�� @5B?� <?� AE5� C5� @5BC97E5� 5C� AE5� 5<� C?>94?� AE5� <<571� 45C45� 45<1>D5� 45<=93B[6?>?�31EC5�E>1�4965B5>391�45�@B5C9[>�5>DB5�<?C�4?C�<14?C�45<�4916B17=1��=95>DB1C�AE5�5<�C?>94?AE5�<<571�45C45�<?C� <14?C�?�45C45�1DBSC�31EC5�<1�=9C=1�@B5C9[>�1�1=2?C�<14?C�45<�4916B17=1��I�5>3?>C53E5>391�>?�C51�31@D14?��697EB1����>�B51<9414�� D?4?C� <?C�=93B?C�49B5339?>1<5C�31@D1>�@1BD5�45<�C?>94?�AE5�<5C� <<571�@?B� <?C� <14?C�I�@?B45DBSC��I�@1B1�3?=@B?21B�<1�31<9414�45�E>?�45�5<<?C�5C�9>D5B5C1>D5�F5B�CE�4917B1=1�@?<1B�I�?2C5BF1B�CE3?=@?BD1=95>D?�3?>�<?C�C?>94?C�AE5�>?�F5>71>�45�CE�@1BD5�6B?>D1<��3E1>D?�=5>?C�C51>�VCD?C�=5:?BC5BS�3?=@?BD1=95>D?�49B5339?>1<��>�<1�697EB1�>L���C5�@E545�F5B�E>�4917B1=1�@?<1B�DW@93?�45�E>�=93B?

49B5339?>1<�� 45294?� 1� <1� 6?B=1� @1BD93E<1B� AE5� D95>5�� 5CD?C�=93B[6?>?C� C?>� D1=29V>� 3?>?394?C� 3?=?31B49?945C��I1�AE5�CE�49B53D9F9414�C5�1C5=5:1�1�<1�C9<E5D1�45<�3?B1J[>

62(3�',3(&&,10$.���<7E>?C�=93B[6?>?C�C5�49C5Y1>�@1B1�AE5� D5>71>�E>�3?=@?BD1=95>D?�49B5339?>1<5H35@39?>1<��I�C?>�45>?=9>14?C�89@5B31B49?945C�?�CE@5B31B49?945C�> <1�697EB1���C5�@E545�F5B�5<�@B9>39@9?�45�6E>39?>1=95>D?�45�5CD?C�D9@?C�45�=93B[6?>?��>���1��C5�8169:14?�E>�3125J1<�=93B?6[>93?�45DBSC�45�E>1�5CDBE3DEB1�DE2E<1B�3?>�E>�3?=@<5:?�7BE@?�45�125BDEB1C�@?B4?>45�5>DB1�5<�C?>94?��3?>�5<�?2:5D?�45�AE5�<1C�?>41C�C?>?B1C�AE5�>?�@B?3541>�45�<?C�@E>D?C�C9DE14?C5>�5<�5:5�45<�=93B?���L��C51>�31>35<141C�'?B�<?�75>5B1<��1�=54941�AE5�E>�C?>94?�C5�1<5:1�45<�S>7E<?��L<1�31@D139[>�F1�49C=9>EI5>4?��I1�AE5�<1�4965B5>391�45�61C5�45�<1C�?>41C�C?>?B1C��AE5�@5>5DB1>�@?B�<1C125BDEB1C�45<� DE2?�8135�AE5�VCD1C�C5�1>E<5>��CD?C�=93B[6?>?C�@5B=9D5>� <1�31@D139[>�45�C?>94?C�17B1>45C�49CD1>391C��I�D1=29V>�3E1>4?�>?�5C�@?C92<5�135B31BC5�1�<1�6E5>D5�45<�C?>94?��3?=?�3E1>4?�C5B51<9J1>�7B12139?>5C�45�1>9=1<5C�5>�<925BD14

,>1�3S@CE<1�=93B?6[>931�5>31B141�3?>�E>� B56<53D?B�@1B12[<93?�CE@?>5�?DB?�=?45<?�45�=93B?�CE@5B�49B5339?>1<��697EB1���2��#1C�?>41C�C?>?B1C�C?>�3?>35>DB141C�81391�5<�6?3?�45�<1�@1BS2?<1��4?>45�C5D95>5�AE5�3?<?31B�5<�3E5B@?�45<�=93B[6?>?��5294?�1�CE�@B?@91�5CDBE3DEB1�6WC931�<1�5653D9F9414�45�5CD?C=93B?C�5C�9>F5BC1=5>D5�@B?@?B39?>1<�1�<1�<?>79DE4�45�?>41��I1�AE5�31@D1>�C?<1=5>D5�1AE5<<?C�C?>94?C3EI1C� <?>79DE45C�45�?>41� C51>�=5>?B5C� ?� 97E1<5C� AE5�5<� 49S=5DB?� 45� <1�@1BS2?<1��5C�4539B� 31@D1>@5B653D1=5>D5�<1C�6B53E5>391C�1<D1C�I�=549?�1<D1C�@5B?�>?�<1C�6B53E5>391C�=SC�21:1C

�#��!)�,%�$!�)Q�&%&�*��R%�*,��!)��+!-!����9CD9>D1C� >535C94145C� 5>� <1� C?>?B9J139[>� 8135>� AE5� <1� 49B53D9F9414� 45� E>� =93B[6?>?� C51� E>� 613D?B45D5B=9>1>D5�5>�<1�5<5339[>�45<�=9C=?�#?C�45�D9@?�31B49?945�C5BS>�<?C�5C3?794?C�3E1>4?�>?�9>D5B5C531@D1B�<?C�C?>94?C�AE5�>?�@B?F5>71>�45<�5:5�45<�=93B[6?>?��I1�C51>�<1C�B5F5B25B139?>5C�45�<1�=9C=16E5>D5�45�C?>94?�E�?DB?C� 9>CDBE=5>D?C��CD5�5C�5<�31C?�45�E>1�7B12139[>�5>�<1�AE5�<?C�9>CDBE=5>D?C=EC931<5C�C5�81<<5>�=EI�35B31�E>?C�45�?DB?C��I�>?C�9>D5B5C5�CE�31@D139[>�9>49F94E1<��I�D1=29V>�3E1>4?C5�3?<?AE5� <1�=93B?6?>W1�5>�E>1�21D5BW1�� <1�7B1>�@B?H9=9414�AE5�5H9CD5�5>DB5� <?C�49F5BC?C� D1=2?B5C5H975�<1�3?<?3139[>�45�=93B?C�AE5�@B5C5>D5>�E>1�49B5339?>1<9414�=EI�5CDB93D1�C@5391<=5>D5�9=@?BD1>D5�5C�<1�C5@1B139[>�5>DB5�9>CDBE=5>D?C�5>�D?4?C�<?C�3?>395BD?C�5>�F9F?��4?>45<1�ED9<9J139[>�45�=93B[6?>?C�31B49?945C�5C�@B535@D9F1

#?C�=93B[6?>?C�2949B5339?>1<5C�C5�EC1>�5>�DB121:?C�45�49B53D?�4?>45�9>D5B5C5�<1�31@D139[>�5CDVB5?�45F1B91C�6E5>D5C�C?>?B1C��3?=?�@?B�5:5=@<?�E>1�3?B1<��I�D1=29V>�3E1>4?�4?C�31>D1>D5C�5653D\1>�E>�4\?1>D5�5<�@\2<93?��C9DES>4?C5�E>?�5>6B5>D5�45<�?DB?�3?>�5<�=93B?�5>DB5�5<<?C+1>D?� <?C�=93B?C� 49B5339?>1<5C� 3?=?� <?C� 2949B5339?>1<5C� ?@5B1>� C57\>� 5<� @B9>39@9?� 45<� 7B1495>D5� 45@B5C9[>��@?B�5CD?�1=2?C�C?>�1653D14?C�@?B�5< ()(&51�'(�2319,/,'$'��CD5�5653D?�C5�B53?>?35�@?B�5<9>3B5=5>D?� 45� <1C� 21:1C� 6B53E5>391C� AE5� ?3EBB5� 3E1>4?� <1� 6E5>D5� 45<� C?>94?� 5CDS�=EI� 35B31>1� 1<=93B[6?>?��CD?�CE3545�@?BAE5�<1�49CD1>391�@1B1�AE5�5<�C?>94?�<<57E5�1�<?C�<14?C�1>D5B9?B�I�@?CD5B9?B45<�4916B17=1�>?�5C�<1�=9C=1�AE5�3E1>4?�<1�6E5>D5�5CDS�=SC�1<5:141*9� <1�49CD1>391�5>DB5�5<�=93B[6?>?�I� <1� 6E5>D5�5C�=EI�@5AE5Y1�� <1�4965B5>391�5>DB5� <1C�49CD1>391C�AE5C5@1B1>�<1�6E5>D5�45�<1C�@1BD5C�1>D5B9?B�I�@?CD5B9?B�45<�4916B17=1�5C�CE69395>D5�@1B1�AE5�<1�61C5�45�<1C5Y1<� C?>?B1� >?� C51� <1� =9C=1�� 5CD?� @B?F?31� E>� 1E=5>D?� 5>� <1� 31@D139[>� 45� D?41C� <1C� 21:1C6B53E5>391C�*?>�=E38?C�<?C�F?31<9CD1C�AE5�ED9<9J1>�5CD1�@B?@95414�@1B1�=?496931B�5>�395BD?C�@1C1:5CCE�D?>?�45�F?J��135B31>4?�?�1<5:S>4?C5�45<�=93B?#?C�=93B[6?>?C�?=>949B5339?>1<5C��@?B�CE�3?>CD9DE39[>�6WC931��5CDS>�31@139D14?C�@1B1�B53?75B�5<�C?>94?3?>� =1I?B� >1DEB1<9414� AE5� <?C� 45� D9@?� 31B49?945�� I1� AE5� 5>� CE� 49C5Y?� >?� 5C� >535C1B9?� 9>DB?4E39B21BB5B1C� 6WC931C�AE5�=?4969AE5>�CE�49B5339?>1<9414��CD?�C97>96931�AE5�<?C�C?>94?C�AE5�@B?F5>71>�456E5B1�45<�5:5�45<�=93B[6?>?�C5BS>�B5@B?4E394?C�3?>� D?4?�CE�5C@53DB?�C?>?B?�B51<�&DB1C�F5>D1:1C�455CD5� D9@?� 45� =93B[6?>?C� C?>� AE5� >?� @B5C5>D1>� 5<� 5653D?� 45� @B?H9=9414�� I� AE5� @?C55>� E>1� 7B1>31@139414�@1B1�=1>5:1B�1<D?C�>9F5<5C�45�@B5C9[>�C?>?B1#?C�=93B?C�?=>949B5339?>1<5C�C5�ED9<9J1>�5>�@B?7B1=1C�45�B149?�I�+-�4?>45�E>�7BE@?�45�@5BC?>1C�C53?<?31>�1<B5454?B�45�E>�\>93?�=93B[6?>? +1=29V>�C5�ED9<9J1>�3?=?�=93B?C�45�1=295>D5�I�@1B1� <1C7B12139?>5C�5>�5CDE49?�45�=\C931�3<SC931�?�45�:1JJ

$!�)Q�&%&*� �!%N$!�&*� �<� =93B[6?>?� 49>S=93?� ?� 45� 2?29>1� =[F9<� 3?>C9CD5� 5>� E>1� @5AE5Y12?29>1�CE:5D1�1�E>�4916B17=1�=EI� <975B?��45� 6?B=1�AE5�3E1>4? E>1C�?>41C�C?>?B1C� 9=@B5C9?>1>�5<4916B17=1� <1� 2?29>1� C5�=E5F5� C?<941B91=5>D5� 5>�5<� 9>D5B9?B� 45� E>� 31=@?�=17>VD93?� 3B514?�@?B� E>9=S>� #1C� ?>41C� C?>?B1C� AE5� 9>3945>� 5>� 5<� 4916B17=1� ?B979>1>� CE� F92B139[>� =53S>931�� 5CD5=?F9=95>D?� C5� DB1>C=9D5� 1� <1� 2?29>1� =[F9<� AE5� C5� 45C@<1J1� 5>� F19FV>� 45>DB?� 45<� 6<E:?� =17>VD93?3B514?� � @?B� 5<� 9=S>� �CD?� 5>75>4B1� E>1� 3?BB95>D5� 5<V3DB931� 5>� <1� 2?29>1� =[F9<� @B?@?B39?>1<� 1<=?F9=95>D?� 45<� 4916B17=1� �CD1� 3?BB95>D5� 5C� 4V29<�� @5B?� @E545� C5B� 1=@<9693141� ED9<9J1>4?� 5<1=@<969314?B�45�F?<D1:5�@B5C5>D5�5>�<1C�5>DB141C�45�<1C�=5C1C�45�=5J3<1C�CD5� D9@?� 45�=93B[6?>?C� D95>5�=E381C� F5>D1:1C� C?2B5� ?DB?C� D9@?C�� C?>� B5<1D9F1=5>D5� 53?>[=93?C� I21CD1>D5�B?2ECD?C��<?�3E1<�@5B=9D5�CE�ED9<9J139[>�5>�3E1<AE95B�C?>?B9J139[>�5>�49B53D?�3?=?�D1=29V>��5>5CDE49?�+?<5B1>�E>?C�>9F5<5C�45�@B5C9[>�C?>?B1�=EI�5<5F14?C�I�>?�@B539C1>�45�1<9=5>D139[>�5<V3DB931@1B1�CE�6E>39?>1=95>D?%?�?2CD1>D5�D1=29V>�@E545>�@B5C5>D1B�1<7\>�9>3?>F5>95>D5��<�=9C=?�=?F9=95>D?�45<�3?>:E>D?�2?29>1=[F9<4916B17=1�@?C55�E>1�9>5B391�AE5�<9=9D1�CE�31@139414�@1B1�F92B1B�3?>�<1C�?>41C�C?>?B1C��3?=?B5CE<D14?�45�5<<?�<1�5653D9F9414�@BS3D931�45�<?C�=93B[6?>?C�49>S=93?C�5C�2E5>1�C[<?�81CD1�<?C����?�<?C���; J�*E�569395>391�@1B1�31@D1B�6B53E5>391C�=SC�1<D1C�5C�=EI�B54E3941R<D9=1=5>D5� 81>� 1@1B5394?� >E5F?C� =93B[6?>?C� 5>� <?C� AE5� C5� 81� ED9<9J14?� E>� >E5F?�=1D5B91<� @1B13?>CDBE9B� 5<� 9=S>� 45<� =93B[6?>?� �CD5� =1D5B91<� �%5?4I=9E=�� 5C� 31@1J� 45� 3B51B� E>� =1I?B� 31=@?

=17>VD93?� ED9<9J1>4?� 2?29>1C� 3?>� E>1� =1C1� =EI� B54E3941�� 5CD?� @5B=9D5� AE5� 5<� 4916B17=1� @E541=?F5BC5� 3?>� 6B53E5>391C� =SC5<5F141C�� <<571>4?� 1� 31@D1B� 81CD1� <?C ��; J�>� <1� 697EB1���@E545�F5BC5�5<�5CAE5=145� E>1� 3S@CE<1� 45� E>� =93B[6?>?49>S=93?� #1� 2?29>1�=[F9<� D95>5� @?31C5C@9B1C�� I1� AE5� 4525� C5B� =EI� <975B1@1B1� >?� 5>D?B@535B� CE� =?F9=95>D?� #19=@541>391�45�C1<941�5C�21:1��I�C5�C9D\15>DB5�<?C�����I�<?C�����?8=9?C�5>�D?4?C<?C� 31C?C�� 5CD?� 6139<9D1� <1� 3?>5H9[>� 45<=93B[6?>?� 1� DB1FVC� 45� <W>51CB5<1D9F1=5>D5� <1B71C�� C9>� AE5� <1� C5Y1<CE6B1� E>1� 1D5>E139[>� >?D12<5� 5>� <1C6B53E5>391C�1<D1C#?C� =93B[6?>?C� 49>S=93?C� 5CDS>49C@?>92<5C� 5>� =?45<?C?=>949B5339?>1<5C��31B49?945C�I�D1=29V>89@5B31B49?945C�WC931=5>D5�� E>� =93B[6?>?� 49>S=93?@E545� @B5C5>D1B� 3E1<AE95B� 6?B=1�� D1<� I3?=?�C5�=E5CDB1�5>�<1�697EB1�����C95>4?

<1C�=SC�ECE1<5C�<1�39<W>4B931 I�<1�45�3?B21D1 �<1F1<9TB5�49C5Y141�5CD1�\<D9=1�@1B1�31@D1B�<1�@1<12B1�5>@B?7B1=1C�45�D5<5F9C9[>�4?>45�5<�CE:5D?�4521�D5>5B�<1C�=1>?C�<92B5C�#?C�=93B?C�3?>�E>�4916B17=1�45E>�7B1>�D1=1Y?�C?>�<?C�=SC�9>49314?C�@1B1�31@D1B�@<5>1=5>D5�<1C�6B53E5>391C�=SC 21:1C��3?=?�C?>

<1C� AE5� ?B979>1� E>� 21:?� 5<V3DB93?� ?� 5<2?=2?�45�E>1�21D5BW1

$!�)Q�&%&*� ��� ��)�Q%� /��)N$!�&* �<�@B9=5B�DB1>C4E3D?B�AE5@5B=9D9[� <1� DB1>C6?B=139[>�45�E>1�?>41C?>?B1�5>�E>1�4965B5>391�45�F?<D1:5� 6E5E>� =93B[6?>?� 45� 31B2[>� �CD5� D9@?� 45=93B?C� 5C� 5<� =SC� C5>39<<?�� C[<94?� I21B1D?�� @5B?� CE� <9=9D141� 31<9414�C?>?B1B5CDB9>75�CE�EC?��I�>?�5C�1@D?�@1B1�C5BD?=14?� 5>� 3E5>D1� 5>� 1=@<9693139?>5C=EC931<5C*57\>�C5�@E545�F5B�5>� <1�697EB1�����E>=93B[6?>?� 45� 31B2[>� 5CDS� 3?>CD9DE94?@?B�E>1�=5=2B1>1�=5DS<931�AE5�B539255<� 9=@13D?� 45� <1C� ?>41C� C?>?B1C�� AE5DB1>C=9D5�5CD1�F92B139[>�1�E>�@9CD[>�AE5@B5C9?>1� <?C� 7BS>E<?C� 45� 31B2[>3?>D5>94?C� 5>� E>1� 3S@CE<1� 35BB141�19C<141� 5<V3DB931=5>D5� 45<� @9CD[>� �<F92B1B�5<�4916B17=1�<1�@B5C9[>�AE5�5:5B355<� @9CD[>� C?2B5� <?C� 7BS>E<?C� 45� 31B2[>1E=5>D1� I� 49C=9>EI5�� 45� <1� =9C=16?B=1� AE5� 1E=5>D1� I� 49C=9>EI5� <1

B5C9CD5>391� 5<V3DB931� AE5�5<� 31B2[>�?6B535�1<� @1C?�45� <1� 3?BB95>D5� 3?>D9>E1��CD5� D9@?� 45�=93B[6?>?C@B539C1��@E5C��45�E>1�D5>C9[>�5<V3DB931�5HD5B9?B�@1B1�AE5�@E541�6E>39?>1B��>�B51<9414�E>�=93B[6?>?�4531B2[>� >?� 75>5B1� 3?BB95>D5� 1<7E>1�� � C9=@<5=5>D5� =?4E<1� <1� 3?BB95>D5� 3?>D9>E1� AE5� 39B3E<1� @?B� CE9>D5B9?B� C57\>� <1� @B5C9[>� AE5� B53921>� <?C� 7BS>E<?C� 45� 31B2[>�� 3?=@?BDS>4?C5� @E5C� 3?=?� E>1B5C9CD5>391�F1B912<5

�C�5<�=93B[6?>?�=SC�ED9<9J14?�5>�D5<56?>W1��I1�AE5�45294?�1�CE�5<5F14?�F?<D1:5�45�C1<941��5>DB5� �I���-�� >?� @B539C1>� 45� >9>7\>� D9@?� 45� 1=@<9693139[>� @1B1� C5B� 31@D14?C� 1� 7B1>45C� 49CD1>391C� �CD?�� 1<=1B75>�45�CE�B?2ECD5J�1>D5�<?C�7?<@5C�I�<?C�613D?B5C�=5D5B5?<[793?C�<�=93B[6?>?�35BS=93?�C5�6E>41=5>D1�5>�<1�@B?@95414�45�<?C�3B9CD1<5C�@95J?5<V3DB93?C�45�5>75>4B1B�E>F?<D1:5�� 3E1>4?� C5� F5>� C?=5D94?C� 1� E>1� D?BC9[>� AE5� <?C� 456?B=1�� 5C� @?B� 5<<?� AE5� C?>� 3?>?394?CD1=29V>�3?>�5<�>?=2B5�45�@95J?5<V3DB93?C�#1�9>D5>C9414�5<V3DB931�AE5�C5�?2D95>5�5C�@B?@?B39?>1<�1�<16E5BJ1�AE5�C5�1@<931�C?2B5�<?C�3B9CD1<5C��45�6?B=1�AE5�5CD1�C5Y1<�B5@B?4E35�<1�?>41�13\CD931�I�@E5455>F91BC5�81391�<1�5>DB141�45�E>�1=@<969314?B�SC931=5>D5�� >?C� 5>3?>DB1=?C� 3?>� 4?C� 3<1C5C� 45� =93B?C� @95J?5<V3DB93?C�� <?C� 45� @B5C9[>� I� <?C� 45D?BC9[>� �>� <1� 697EB1� � � C5� =E5CDB1� 5>� 5CAE5=1� 3?=?� 6E>39?>1>� 1=21C� F1B954145C� �>� � � �� <1@B5C9[>�C?>?B1�9>3945�49B53D1=5>D5�C?2B5�E>1�45�<1C�31B1C�45<�3B9CD1<��B53E295BD1�45�E>1�@5<W3E<1�=EI69>1�45�=5D1<�3?>4E3D?B��1 5CD1�@B5C9[>�5<�3B9CD1<�B51339?>1�75>5B1>4?�E>1�6E5BJ1�B53?7941�5>DB5�5CD131@1�45�=5D1<�I�<1�31@1�45@?C9D141�5>�<1�@1BD5�9>D5B9?B�45<�3B9CD1<�>�5<�D9@?�45�D?BC9[>���97�� ����<1�?>41�13\CD931�@B5C9?>1�C?2B5�D?41�<1�CE@5B69395�45�E>�4916B17=1�I@B?I53D1 CE�6E5BJ1�C?2B5�E>�C[<?�@E>D?�45<�3B9CD1<��45�=1>5B1�AE5�C5�3?>35>DB1�5>�E>�5HDB5=?�45�<1<S=9>1�I�?31C9?>1�<1�D?BC9[>�45� <1�=9C=1��75>5B1>4?�E>1�6E5BJ1�CE@5B9?B�1� <1�AE5�C5�?2D95>5�3?>�5<D9@?�45�@B5C9[>�>�1=2?C�31C?C�C5�1@B?F5381�<1�4965B5>391�45�F?<D1:5�AE5�C5�?B979>1�5>DB5� <1C�31@1C�=5DS<931C�AE53E2B5>�1=2?C�<14?C�45<�3B9CD1<��3E1>4?�5CD5�3B9CD1<�C5�456?B=1

#?C�>9F5<5C�45�C1<941�45�5CD?C�=93B[6?>?C�@B5C5>D1>�E>1� 9=@541>391�=EI�5<5F141�� <?�3E1<� <9=9D1� <1<?>79DE4� 45� <?C� 312<5C� 45� E>9[>� 3?>� 5<� 1=@<969314?B� 1� =5>?C� 45� �� =5DB?C� *?>� E>?C� 2E5>?CB5@B?4E3D?B5C� 45� <1C� >?D1C� =SC� 17E41C�� @5B?� 21CD1>D5� 4569395>D5C� @?B� 4521:?� 45� <?C� ���� J� *EED9<9J139[>� 5>� C9CD5=1C� 45� C?>94?� 45� 31<9414� CE5<5� <9=9D1BC5� 1� <?C� 3?>?394?C� 3?=?� =93B[6?>?C� 453?>D13D?��AE5�ED9<9J1>�E>?�?�F1B9?C�3125J1<5C�@95J?5<V3DB93?C�@1B1�CE�6E>39[>#1�5<5F141�C5>C929<9414�1�<1�8E=5414��1�<1�D5=@5B1DEB1�I�1�<?C�7?<@5C�AE5�@B5C5>D1>�<?C�=93B[6?>?C35BS=93?C�8135>�AE5�CE�EC?�5>�3?>395BD?C�C51�=EI�<9=9D14?��1�@5C1B�45�CE�B54E394?�3?CD5

$!�)Q�&%&*�����!%+���<�=93B[6?>?�45�39>D1� DB121:1�7B1391C�1<�=9C=?�@B9>39@9?�5<53DB[>93?�3?>AE5� <?� 8135� 5<� =93B[6?>?� 49>S=93?�� 5H35@D?� AE5� E>1� 39>D1� =5DS<931� B55=@<1J1� 1<� 3?>:E>D?4916B17=12?29>1� �CD1� 39>D1� CE5<5� C5B� ?>4E<141�� 3?>� D1<� 45� 1E=5>D1B� CE� 5<1CD939414� I� 6139<9D1B� <1F92B139[>�1>D5� <?C� 9=@13D?C�45� <1C�?>41C�C?>?B1C��CE5<5�5CD1B�CEC@5>4941�5>�5<� 9>D5B9?B�45�E>�6E5BD531=@?��=17>VD93?��@B?@?B39?>14?�@?B�E>?�?�4?C�9=1>5C�@5B=1>5>D5C#1C�?>41C�C?>?B1C�AE5�<<571>�45�1=2?C�<14?C�45�<1�39>D1�8135>�AE5�VCD1�C5�@?>71�1�F92B1B�45>DB?�45<@?D5>D5�31=@?�=17>VD93?��?B979>1>4?�E>�F?<D1:5�@B?@?B39?>1<�1�<1�F5<?39414�3?>�AE5�<1�39>D1�3?BD1�5<6<E:?�=17>VD93?�I�1�CE�@B?@91�<?>79DE4�'E5CD?�AE5�<1�39>D1�B5C@?>45�1�<1C�1<D5B139?>5C�45�@B5C9[>�D1>D?C9�C5�@B?4E35>�@?B�5< 6B5>D5�3?=?�@?B�5<�4?BC?�45�<1�=9C=1��CD?C�=93B[6?>?C�C?>�6E>41=5>D1<=5>D52949B5339?>1<5C��C9�295>�1<7E>?C�=?45<?C�3?>�E>�49C5Y?�=?4969314?�@E545>�D5>5B�?DB1C�31B13D5BWCD931C49B5339?>1<5C��>�<1�697EB1����C5�@E545�?2C5BF1B�<1�3?>CD9DE39[>�DW@931�45�E>�=93B[6?>?�45�39>D1�?=?� 5<� F?<D1:5� 45� C1<941� 45� 5CD?C�=93B?C� 5C�=EI� 21:?�� CE5<5>� <<5F1B� E>� DB1>C6?B=14?B� 45� F?<D1:59>3?B@?B14?�5>�5<�=9C=?�3E5B@?�45<�=93B[6?>?�,>�2E5>�=93B[6?>?�45�39>D1�@B5C5>D1�E>1�B5C@E5CD15>�6B53E5>391C�=EI�@<1>1�5>DB5�<?C����I�<?C� ����� J

��@5C1B�45�CE�5<5F141�31<9414�C?>?B1�� <?C�=93B[6?>?C�45�39>D1� D95>5>�1<7E>1C�45CF5>D1:1C�1>D5� <?C=93B[6?>?C� 45� D9@?� 49>S=93?�� E>1� 45� <1C� 3E1<5C� 5C� CE� 6B179<9414� 1>D5� <?C� 7?<@5C� ?� <1C� @B5C9?>5C13\CD931C�45=1C914?�5<5F141C�%?�?2CD1>D5� <1� D53>?<?7W1�@B?7B5C1��I�1<7E>?C�=?45<?C�B5395>D5C�45=93B?C�45�39>D1�C?>�21CD1>D5�B5C9CD5>D5C��>�VCD?C�C5�81�1@<9314?�E>1�45<7141�31@1�=5DS<931�C?2B5E>1�39>D1�@<SCD931��1E=5>D1>4?�1CW�CE�4EB5J1�I�5HD5>495>4?�CE�B5C@E5CD1�1�<1C�6B53E5>391C�5HDB5=1C�>�<1C 7B12139?>5C�45�=\C931�3<SC931�<?C�=93B[6?>?C�45�39>D1�C?>�<?C�=SC�ED9<9J14?C��I1�AE5�5<�C?>94??2D5>94?�5C�=SC�CE1F5�I�>1DEB1<�AE5�5<�AE5�C5�?2D95>5�EC1>4?�=93B?C�49>S=93?C�?�45�3?>45>C14?B*E�ED9<9J139[>�5>�49B53D?C�5C�@BS3D931=5>D5�>E<1��I1�AE5�5CD5�D9@?�45�=93B[6?>?C�4525�=1>D5>5BC5�1E>1� 395BD1� 49CD1>391� 45� <1� 6E5>D5� C?>?B1� ���� 3=C� ?� =SC��� I� 5CD?� @E545� 131BB51B� @B?2<5=1C� 45B51<9=5>D139[>�3E1>4?�C5�ED9<9J1>�=?>9D?B5C

$!�)Q�&%&*�����&%��%*��&)�,>�3?>45>C14?B�3?>C9CD5�5>�E>�@1B�45�=5=2B1>1C�=5DS<931C@1B1<5<1C�� C5@1B141C� 5>DB5� C9� @?B� E>�=1D5B91<� 19C<1>D5�� AE5� C?>� 31@135C� 45� 1<=135>1B� 5<53DB9394145CDSD931� 45>DB?� 45<� 5C@139?� � 3?=@B5>494?� 5>DB5� 1=21C� #1� 31B71� 5<V3DB931� AE5� @E545� 7E1B41B� E>3?>45>C14?B�F95>5�4569>941�@?B�<1�6[B=E<1�

(����-

C95>4? (� <1� 31B71� 5<V3DB931� =5CEB141� 5>� 3E<?=29?C�� �� <1� 31@139414� 45� 1<=135>1:5� =5CEB141� 5>61B149?C��I�-�<1�4965B5>391�45�F?<D1:5�5>DB5�<1C�4?C�=5=2B1>1C#1� 31@139414� 45� 1<=135>1B� 3?BB95>D5� 5CDSD931� 5>DB5� <1C� 4?C� =5=2B1>1C� �D1=29V>� <<1=14131@139D1>391��F1B91 3E1>4?�C5�1<D5B1�<1�49CD1>391�AE5�C5@1B1�E>1�=5=2B1>1�45�?DB1��5>�3?>C53E5>391D1=29V>� 31=291� 5<� F?<D1:5�� I� 75>5B1� E>1� 3?BB95>D5� 5<V3DB931� @B?@?B39?>1<� 1� 5CD1� 1<D5B139[>� 45� <1

49CD1>391�<�3125J1<�45�E>�=93B[6?>?�45�3?>45>C14?B5CDS� 3?>CD9DE94?� @?B� E>1� =5=2B1>1� =EI45<7141�AE5�3?>CD9DEI5�5<�4916B17=1��I�AE55CDS� C9DE141� 1�=EI� @?31� 49CD1>391� 45� ?DB1=5=2B1>1� D1=29V>�=5D1<9J141��45�=1>5B1AE5� 3?>CD9DEI5>� E>� 3?>45>C14?B�� 4?>45� 5<5C@139?�AE5�5H9CD5�5>DB5�1=21C�13D\1�3?=?19C<1>D5��<�4916B17=1�F1B91�CE�49CD1>391�3?><1�C57E>41�@<131�AE5�5CDS� 69:1�1<�B53929B� <?C9=@13D?C�45�<1C�?>41C�C?>?B1C��1<D5BS>4?C5<1� 31@139414� 45<� 3?>:E>D?� I� @B?4E395>4?E>1� 4965B5>391� 45� F?<D1:5� @B?@?B39?>1<� 1<C?>94?�31@D14?�>�<1�697EB1����@E545�F5BC5�5<�5CAE5=1�45E>1� 3S@CE<1� DW@931 45� E>� =93B[6?>?� 45

3?>45>C14?B� �CD5� D9@?� 45� =93B?C� @B539C1� 45� E>1� 6E5>D5� 45� 1<9=5>D139[>� 5HD5B>1� AE5� 31B7E55<V3DB931=5>D5�5<��4916B17=1�I�<1�@<131�45�<1�3S@CE<1�=93B?6[>931��CD1� 31B71� @E545� C5B� 5>F9141� 45C45� E>1� =5C1� 45� =5J3<1C� 81391� 5<� =93B[6?>? �1<9=5>D139[>@81>D?=��@5B?�D1=29V>�C5�@E545�?B979>1B�5>�5<�=9C=?�3E5B@?�45<�=93B?�=5491>D5�E>1�@9<1�5<V3DB931#1�9=@541>391�45�C1<941�45�5CD1C�3S@CE<1C�=93B?6[>931C�CE5<5�C5B�45<�?B45>�45�E>?C����=571?8=9?C�E>1� B5C9CD5>391� D1>� 5<5F141� ?2<971� 1� AE5� 5CD?C� =93B[6?>?C� DB121:5>� @BS3D931=5>D5� @5714?C� 1� E>@B51=@<969314?B� DB1>C6?B=14?B�45� 9=@541>391C��45� 6?B=1�AE5� <1�3S@CE<1�I�5<�@B51=@<969314?B�CE5<5>5>35BB1BC5� 5>� E>� =9C=?� 3E5B@?� �>� <?C� =?45<?C� =SC� 1>D97E?C� 5CD5� @B51=@<969314?B� 5=@<5121FS<FE<1C��@5B?�13DE1<=5>D5�C5�ED9<9J1>�=1I?B9D1B91=5>D5� <?C���+� �+B1>C9CD?B5C�45�5653D?�45�31=@?�%?�?2CD1>D5�<?C�=?45<?C�1�FS<FE<1C�>?�81>�45C1@1B5394?��I1�AE5�1�@5C1B�45�CE�D1=1Y?�5H35C9F?�I�45E>�3?CD5�21CD1>D5�5<5F14?�C?>�=EI�1@B53914?C�@?B�1<7E>?C�DV3>93?C��45294?�1�<1�CED9<5J1�45<�C?>94?AE5�5>DB571>�>�<1�697EB1����C5�=E5CDB1�5<�39B3E9D?�9>D5B>?�45�E>�=93B[6?>?�45�3?>45>C14?B�DW@93?��5>�5<�AE5�<1�@<13169:1�5C�@5B6?B141�@1B1�@5B=9D9B�E>1�=1I?B� <925BD14�5>�5<�=?F9=95>D?�45<�19B5�AE5�81I�5>DB5�VCD1�I�5<

4916B17=1�?=@1B14?�3?>�5<�=93B[6?>?�49>S=93?��<1�3?>CD9DE39[>�45�E>�=93B?�45�3?>45>C14?B�5C�21CD1>D5�=SC3?=@<5:1��5<<?�CE5<5�DB14E39BC5�5>�E>�@B539?�45�3?CD5�=SC�5<5F14?�%?�?2CD1>D5��5<�@5AE5Y?�D1=1Y?AE5�CE5<5�D5>5B�5<�4916B17=1�=5DS<93?�8135�AE5�CE�9>5B391�C51�=5>?B�AE5�<1�AE5�@?C55�5<�4916B17=145�E>�=93B[6?>?�49>S=93?�� 3?=?�3?>C53E5>391�45�5<<?��5<�=93B[6?>?�45�3?>45>C14?B� B5C@?>45�3?>=1I?B�569395>391�1�<1C�1<D1C�6B53E5>391C#1� B5C@E5CD1� 5>� 6B53E5>391C� 45� 1<7E>?C� =93B[6?>?C� 45� 3?>45>C14?B� 5H3545� 1� <1� 45<� @B?@9?� ?W4?8E=1>?��D1>D?�5>�<1C�1<D1C�3?=?�5>�<1C�21:1C�6B53E5>391C�*E�ED9<9414�5>�<?C�5CDE49?C�45�7B12139[>�5C9>49C3ED92<5��I�@E545>�5>3?>DB1BC5�=?45<?C�AE5�D5>71>�<1�@?C929<9414�45�F1B91B�1�F?<E>D14�<1�B5C@E5CD15>� 6B53E5>391C�� @1B1� 141@D1B<?C� 1� 49F5BC?C� EC?C� '?B� ?DB?� <14?� C5� 49C5Y1>� 3?>� 3E1<AE95B� 3<1C5� 4531B13D5BWCD931�49B5339?>1< 1I�AE5�D5>5B�@B5C5>D5��>?�?2CD1>D5��AE5�E>1�5<5F141�8E=5414�5>�5<�1=295>D5�@E545�1653D1B�5<�2E5>6E>39?>1=95>D?� 45� E>� =93B[6?>?� 45� 5CD5� D9@?�� I1� AE5� 5<� F1@?B� 45� 17E1� @E545� 13DE1B� 3?=?� E>3?>4E3D?B� 5<V3DB93?� 5>DB5� 5<� 4916B17=1� I� <1� @<131�@?CD5B9?B� 45� <1� 3S@CE<1�=93B?6[>931��?B979>1>4?�E>3?BD?39B3E9D?�5>�<1�=9C=1

$!�)Q�&%&*� �#��+)�+� �<� @B9>39@9?� 45� 6E>39?>1=95>D?� 45<� =93B[6?>?� 5<53DB5D� 5C� C9=9<1B� 1<� 45<=93B[6?>?�45�3?>45>C14?B� <1�4965B5>391�@B9>39@1<�3?>C9CD5�5>�AE5�<1�31B71�5<V3DB931�AE5�4525�8125B5>DB5� 5<� 4916B17=1� I� <1� @<131� >?� 5C� CE=9>9CDB141� 5HD5B9?B=5>D5�� I1� AE5� 5<� =9C=?� 4916B17=1� 5CDS3?>CDBE94?�3?>�E>�=1D5B91<�AE5�B5D95>5�9>4569>941=5>D5�<1�31B71�5<V3DB931��CW��5<�4916B17=1�I�<1�@<131C?>� 9BB14914?C�5<53DB[>931=5>D5�4EB1>D5�CE� 612B93139[>��I� <E57?�>?�@B539C1>�E>�F?<D1:5�5HD5B9?B�@1B1@?45B�6E>39?>1B�4EB1>D5�F1B9?C�1Y?C���97EB1����

�<�=93B[6?>?�5<53DB5D�@B539C1��1<� 97E1<�AE5�5<�45�3?>45>C14?B��45�E>�@B51=@<969314?B�45� 9=@541>391E>94?� 1� <1� 3S@CE<1�� @5B?� 5>� 5CD5� 31C?� 5C� CE69395>D5� E>� F?<D1:5� 5>DB5� ���� I� �� F?<D9?C� @1B1� CE6E>39?>1=95>D?��AE5�@E545�C5B�CE=9>9CDB14?�@?B�E>1�@9<1�3?BB95>D5#1�<9=9D139[>�2SC931�45�5CD5�D9@?�45=93B[6?>?C�F95>5�4141�@?B�5<�7B?C?B�AE5�D95>5�5<�4916B17=1��14?�AE5�4525�3?>C5BF1B�4EB1>D5�=E38?D95=@?�<1�31B71�5<V3DB931��5C�=SC�7BE5C?�AE5�5<�45<�=93B?�45�3?>45>C14?B��I�5CD?�C5�DB14E35�5>�E>1=5>?B�31@139414�45�B51339[>�1>D5�<1C�6B53E5>391C�=SC�1<D1C#?C�@B?7B5C?C�81294?C�5>�<?C�49C5Y?C�45�5CD?C =93B[6?>?C�@5B=9D5>�AE5�8?I�5>�4W1�C5�ED9<935>�=SC�1=5>E4?�5>� C9CD5=1C�45�1=@<9693139[>� I� 5>�7B12139?>5C�45�5CDE49?��SC931=5>D5�� C5�81� DB1D14?�45C9DE1B�<1�31B71�5<V3DB931�@5B=1>5>D5�5>�<1�@<131�@?CD5B9?B��5>�<E71B�45�8135B<?�5>�5<�4916B17=1��5�5CD16?B=1�5<�7B?C?B�45<�4916B17=1�5C�B54E394?�I�CE�C5>C929<9414�1>D5�<1C�1<D1C�6B53E5>391C�@5B=1>535�=EI1<D1�CD1�>E5F1�D53>?<?7W1�81�@5B=9D94?�<1�1@1B939[>�45�E>?C�=93B[6?>?C�AE5�?6B535>�E>1�31<9414�@1B539411�<1�45�<?C�=93B?C�45�3?>45>C14?B��@5B?�3?>�E>�3?CD5�97E1<�?�9>65B9?B�1<�45�<?C�=93B?C�49>S=93?C

$!�)Q�&%&*��*'��!�#�*��,CE1<=5>D5�E>�=93B[6?>?�CE5<5�5=@<1J1BC5�B5<1D9F1=5>D5�35B31�45�<16E5>D5�45�C?>94?�AE5�D95>5�AE5�31@D1B��I1�AE5�C9�C5�C9D\1�1�E>1�7B1>�49CD1>391�@E545�CE3545B�AE5�<?CC?>94?C�B56<5:14?C�5>�<1C�@1B545C��I�AE5�<<571>�1<�=93B?�1<7?�=SC�D1B45�AE5�5<�C?>94?�49B53D?��C51>�<131EC1�45�E>1�31>35<139[>�@1B391<�45�1<7E>1C�6B53E5>391C%?� ?2CD1>D5�� <1� 3?<?3139[>� 5>� E>� 5CDE49?� 45� E>� =93B[6?>?� <5:?C� 45� <1� 6E5>D5� @5B=9D5� 3B51B�45<925B141=5>D5�� 5>� 3?=29>139[>� 3?>� ?DB?C� =93B?C� 45� @B?H9=9414�� 5653D?C� 45� B5F5B25B139[>� I31>35<139[>�C?>?B?C��AE5�@E545>�C5B>?C�\D9<5C��C?>�<?C�<<1=14?C�=93B[6?>?C�45�@1B54�CD?C�=93B?C�� 3?=?� CE� >?=2B5� 9=@<931�� 5CDS>� 49C5Y14?C� @1B1� C5B� 3?<?314?C� 5>� @1B545C� ?� CE5<?C�9>49CD9>D1=5>D5��<�D1=1Y?�AE5�D5>71�5<�@95�45�E>�=93B?�45�@1B54�1653D1�1�<1�B5C@E5CD1�5>�6B53E5>391C7B1F5C�45<�=9C=?��3E1>D?�=1I?B�5C�=SC�C5�5HD95>45�<1�31@D139[>�45�<?C�D?>?C�=SC�21:?C��<7E>?C�455CD?C�=93B[6?>?C�5CDS>�49C5Y14?C�45�6?B=1�AE5�<1�3S@CE<1�31@D14?B1�5CDS�C9DE141�5>6B5>D5�45<�@95�45<=93B?��45�=1>5B1�AE5�5<�C?>94?�AE5�<5�<<571�C5�B56<5:1�C95=@B5�5>�5<�@95�45<�=9C=?�=93B[6?>?���97EB1�����<�C?>94?�49B53D?�I�5<�B56<5:14?�C5�=1>D95>5�5>�61C5��C95=@B5�AE5�<1�49CD1>391�5>DB5�<1C�4?C�@<131C>?�5H3541�45�����45�@E<7141��I�31@D1�3?BB53D1=5>D5�6B53E5>391C�81CD1�<?C� ��"8J��?=?�B5CE<D14?45�5<<?�5<�C?>94?�49B53D?�I�5<�B56<5:14?�C5�CE=1>��<?�3E1<�C97>96931�4?2<1B�<1�@?D5>391�C?>?B1�31@D141�@?B<1�3S@CE<1�45<�=93B?#1� 31@D139[>� 45� <?C�=93B[6?>?C� 45� @1B54� 5C� ?=>949B5339?>1<�� @5B?� <1� 3S@CE<1� AE5� <<5F1>� CE5<5� C5B31B49?945��I�5CDS�5>6?3141�81391�5<�@E>D?�?@E5CD?�4?>45�5CDS�C9DE141�#1�ED9<9J139[>�45�5CD?C�=93B?CC5�<9=9D1�1�<1C�D?=1C�5>�5CDE49?��I1�AE5�CE�ED9<9414�5>�<?C�49B53D?C�5C�@BS3D931=5>D5�>E<1

�>�395BD1C�C9DE139?>5C� <1� B51<9=5>D139[>�13\CD931�@E545�@B?F?31B�C5B9?C�@B?2<5=1C�45�C?>?B9J139[>'1B1�C?<F5>D1B<?C�5C�21CD1>D5�\D9<�<1�ED9<9J139[>�45�<?C�=93B[6?>?C�45�3?>D13D?��CD?C�=93B?C�B51339?>1>1>D5� <1� F92B139[>� 45<� 9>CDBE=5>D?� 1<� 3E1<� 5CDS>� E>94?C� 6WC931=5>D5�� I� >?� C?>� C5>C92<5C� 1� <1C� ?>41CC?>?B1C�AE5� <5�@E541>� <<571B�1� DB1FVC�45<�19B5�#1�=1I?B�@1BD5�45� <?C�=93B[6?>?C�45�3?>D13D?�5CDS>21C14?C� 5>� 3S@CE<1C� @95J?5<V3DB931C�� 1E>AE5� 5>� 1<7E>?C�=?45<?C� C5� ED9<9J1� 5<� =9C=?� @B9>39@9?� 452?29>1�=[F9<� � ED9<9J14?�5>� <?C�=93B[6?>?C�49>S=93?C�#1C�@1CD9<<1C�45� <1C�7E9D1BB1C�13\CD931C�C?>�E>5:5=@<?�45�5CD5�@1BD93E<1B�D9@?�45�=93B[6?>?C�CD?C�=93B?C�>?�3?>D95>5>�4916B17=1��D1<�I�3?=?�<?�3?>?35=?C��I1�AE5�<1�F92B139[>�45<�9>CDBE=5>D?�5CDB1C<14141�@?B�3?>D13D?�=53S>93?�I�31EC1�<1�D?BC9[>�45<�3B9CD1<�@95J?5<V3DB93?��?�295>�5<�=?F9=95>D?�45<1�2?29>1#?C� =93B?C� 45� 3?>D13D?� @E545>� @B5C5>D1BC5� 21:?� 3E1<AE95B� 6?B=1� ��97EB1� ����� 45C45� @1CD9<<1C1ED?1485C9F1C�81CD1�31:9D1C�45�=145B1�?�@<SCD93?�AE5�3?>D95>5>�49F5BC?C�C9CD5=1C�@1B1�C5B�69:141C�1<9>CDBE=5>D?�CD?C� =93B[6?>?C�� >?� ?2CD1>D5�� D95>5>� E>1� >?D12<5� <9=9D139[>�� I� 5C� AE5� 5<� F5B4145B?� C?>94?� 45� E>9>CDBE=5>D?�>?�@E545�C5B�B5@B5C5>D14?�@?B�<1�F92B139[>�45�E>1�@5AE5Y1�@1BD5�45<�=9C=?���<�C?>94?�453E1<AE95B� 9>CDBE=5>D? =EC931<�5CDS�3?=@E5CD?�@?B�<1�CE=1�45�D?41C�<1C�F92B139?>5C�AE5�5=1>1>�45V<�CD?C� =93B[6?>?C� @E545>� C5B� EC14?C�� 1C9=9C=?�� 3?=?� 49C@1B14?B5C� 45� @E5BD1C� 45� BE94?� ?� 45 ����� ��I1�AE5�1<�5CD1B�5>�3?>D13D?�3?>�5<�3E5B@?�45<�9>CDBE=5>D?��5<�=93B[6?>?�B53925 <1�C5Y1<�1>D5C45�AE5�5<�C?>94?�<<57E5�1�<1�=93B?6?>W1�3?>F5>39?>1<�'1B1�3?>DB?<1B�5<�9=@E<C?�AE5�1339?>5�E>1�@E5BD145�BE94?�=5491>D5�E>�=93B?�45�3?>D13D?��<1�@E5BD1�4525�12B9BC5�1>D5C�45�AE5�<<57E5�<1�C5Y1<�45�1E49?@B?3545>D5�45<�=93B[6?>?�3?>F5>39?>1<��@?B�<?�AE5�C5�1@B?F5381�45<�9=@E<C?�AE5�B53925�1>D5C�45C455<�=93B?�45�3?>D13D?���97EB1����

#���#!$�%+��!Q%��' �%+&$�+?4?C� <?C�=93B[6?>?C�45�3?>45>C14?B�B5AE95B5>�45�E>1�1<9=5>D139[>�5<V3DB931�@1B1�@?45B�6E>39?>1B$E38?C� =93B?C� 45� 5CD5� D9@?� F95>5>� @B5@1B14?C� @1B1� 1<?:1B� 5>� CE� =9C=?� 3E5B@?� 21D5BW1C� AE5� <5@B?@?B39?>5>�5CD1�3?BB95>D5�%?�?2CD1>D5�5<�C9CD5=1�=SC�@?@E<1B�45�121CD535B�45�5>5B7W1�5<V3DB931�1<?C�=93B[6?>?C�45�3?>45>C14?B�5C� <1�45>?=9>141�1<9=5>D139[>�@81>D?=�$5491>D5�5CD5�C9CD5=1�C5@B?@?B39?>1�45C45�5<�5HD5B9?B� <1�3?BB95>D5�3?>D9>E1�1453E141�@1B1�AE5�6E>39?>5�5<�=93B?��5<�F1<?B�45D5>C9[>�45�<1�3E1<�CE5<5�C5B�45����-��C9�295>�5<�1<7E>?C�=?45<?C�@E545�?C39<1B�5>DB5�<?���-�I�<?C����-�@1B1�141@D1BC5�1�<1C�@?C929<94145C�45�49CD9>D1C�6E5>D5C�45�1<9=5>D139[>���97EB1� ���>�3E1<AE95B�31C?��5<�3?>5H9?>14?�5>DB5�5<�=93B[6?>?�I�<1�=5C1�45C45�4?>45�VCD5�B53925�<1�3?BB95>D53?>D9>E1�4525�5653DE1BC5�=5491>D5�E>1�<W>51�21<1>35141�� �F9F?C�I�E>1�=1<<1���I1�AE5�C9�C5�5653DE1B13?>�E>1�<W>51�C9>�21<1>351B����F9F?�I�E>1�=1<<1��>?�C5BW1�@?C92<5�5CD5�5>FW?

'?B� <?� 75>5B1<�� 5CD1� 3?BB95>D5� 5C� 75>5B141� 45C45� <1�=9C=1� 6E5>D5� 45� 1<9=5>D139[>� 45� <1�=5C1� 45=5J3<1C�4?>45�5<�=93B?�5CDV�3?>53D14?��I�1<31>J1�1<�=93B[6?>?�1�DB1FVC�45<�312<5�AE5�C9BF5�D1=29V>@1B1�8135B�<<571B�<1�C5Y1<�45�1E49?�45<�=93B?�1�<1�=5C1�#1C�=5C1C�45�=5J3<1�=5:?B�49C5Y141C�D95>5>E>�3?>=ED14?B�@1B1�5>F91B�1<9=5>D139[>�@81>D?=�5>�3141�5>DB141�=93B?6[>931��=95>DB1C�AE5�<1C�=1CC5>39<<1C�@E545>�D5>5B�E>�3?>=ED14?B�75>5B1<�@1B1�D?41C�<1C�5>DB141C��?�295>�C9=@<5=5>D5�>?�@E545>5653DE1B�5CD5�5>FW?*9� C5� 3?>53D1�� @?B� 5BB?B�� E>�=93B[6?>?� 49>S=93?� 1� E>1� 5>DB141� 4?>45� 5CDV� 13D9F14?� 5CD5� 5>FW?� 453?BB95>D5�� @E545>� CE3545B� 4?C� 3?C1C�� (E5� 5<� =93B[6?>?� 5CDV� @B5@1B14?� @1B1� 5>F91B� <1� C5Y1<21<1>35141��5>�3EI?�31C?�>?�812BS�>9>7\>�@B?2<5=1��I1�AE5�<?C�4?C�5HDB5=?C�45�<1�2?29>1�B53929BS>5<�=9C=?�F?<D1:5�I�>?� 6<E9BS�>9>7E>1�3?BB95>D5��?�295>�AE5�5<�=93B?�>?�5CDV�@B5@1B14?�@1B1�5>F91B� <1C5Y1<�21<1>35141��5>�5CD5�31C?�39B3E<1BS�@?B�<1�2?29>1�<1�3?BB95>D5�I 5H9CD9BS�E>�@5<97B?�5F945>D5�@1B1<1� 9>D57B9414� 45<� =93B[6?>?�� KI� D1=29V>� @1B1� AE95>� D?AE5� 5CD5� =93B[6?>?�� �5� D?41C� 6?B=1C�� 5C3?>F5>95>D5� >?� 3?>53D1B� <1� 1<9=5>D139[>� @81>D?=� 3E1>4?� 5<� =93B[6?>?� >?� <?� @B539C1�� @1B1� 5F9D1BB95C7?C�9>\D9<5C

��)��+�)P*+!��*��#��+)Q%!��* (04,%,.,'$'�1�0,7(.�'(�4$.,'$��#?C�=93B[6?>?C�75>5B1>�E>?C�>9F5<5C�45�C5Y1<�45�1E49?�=EI�4V29<5C�C9� <?C� 3?=@1B1=?C� 3?>� <?C� AE5� 5>FW1>� <1C� <W>51C� 45� C5Y1<� 45� <?C� @B?35C14?B5C� C?>?B?C� ?� 45� <?CD53<14?C�I� 3?=2?C�'?B�5CD5�=?D9F?��5CD1�C5Y1<�4525�C5B�@B51=@<9693141�1>D5C�45� B51<9J1B�3E1<AE95B?DB1�?@5B139[>�3?>�5<<1��CD1�6E>39[>�<1�B51<9J1�>?B=1<=5>D5�<1�=9C=1�=5C1�45�=5J3<1C�=5491>D5�5<3?>DB?<���19>��?�295>�5<�=17>5D?6[>�4?>45�5<�=93B?�5CDS�3?>53D14?�<�>9F5<�45�C1<941�45�E>�=93B[6?>?�C5 5C@5396931�C95=@B5�D?=1>4?�3?=?�B565B5>391�E>�>9F5<�45�@B5C9[>C?>?B1��3E1>D?�=1I?B�C51�<1�C5>C929<9414�45�E>�=93B?�=1I?B�C5BS�5<�>9F5<�45�C1<941�45<�=9C=?�CD?C�>9F5<5C�C5�=5CEB1>�5>�453925<9?C��I�3?=?�B565B5>391�C5�CE5<5>�D?=1B�4?C�F1<?B5C��4�-��4��B56��F?<D9?��?�295>�4�=��4��B56���=9<9F1D9?���>�5<�@B9=5B�31C?�5<�F1<?B�45�B565B5>391�5C�E>1�4965B5>391�45D5>C9[>��=95>DB1C�AE5�5>�5<�C57E>4?�5C�E>1�@?D5>391��=2?C�F1<?B5C�>?�C?>�3?=@1B12<5C�5>DB5�CW�C9>3?>?35B�<1�9=@541>391�45�31B71�/2('$0&,$���#1�9=@541>391�@E545�C5B�4569>941�3?=?�<1�?@?C939[>�1<�6<E:?�45�E>1�3?BB95>D5�5<V3DB9311<D5B>1�5>�E>�39B3E9D?�5<V3DB93?��I�C5�=5CEB1�5>�?8=9?C�CW�� >?C� @?45=?C� 5>3?>DB1B� 3?>� =93B[6?>?C� 45� 1<D1� ?� 45� 21:1� 9=@541>391� #?C� =93B?C� 45� 1<D19=@541>391��5>DB5���I��� ;?8=9?C��C?>�ED9<9J14?C�8129DE1<=5>D5�5>�C9CD5=1C�4?=VCD93?C�I�5>�5AE9@?C45�C?>?B9J139[>�=?45CD?C��I1�AE5�5>DB571>�E>�F?<D1:5�B5<1D9F1=5>D5�5<5F14?�C9�C5�3?=@1B1�3?>�5<�AE55>DB571>�<?C�=93B?C�45�21:1�9=@541>391��<<?�@5B=9D5�AE5�5<�C9CD5=1�6E>39?>5�C9> >535C9414�45�3?>D1B3?>�@B51=@<969314?B5C�@1B1�<1C�<W>51C�=93B?6[>931C��C9=@<9693S>4?<?�I�121B1D1>4?�5<�3?CD5�?C�613D?B5C�<9=9D1>�<1�ED9<9414�45�<?C�=93B[6?>?C�45�1<D1�9=@541>391��'?B�E>�<14?�3E1>D?�=1I?B�5C�<19=@541>391�=SC�6S39<�5C�AE5�<1�C5Y1<�45�1E49?�C5�F51�1653D141�@?B�5<�5653D?�3?>45>C14?B�@B?F?314?@?B�5<�=9C=?�312<5�45�1E49?��I�@?B�?DB?��<1C�C5Y1<5C�45�1<D1�9=@541>391�C?>�=SC�CEC35@D92<5C�AE5�<1C45�21:1�9=@541>391�1�CE6B9B�9>D5B65B5>391C�45�D9@?�5<53DB?=17>VD93?'?B�D?4?�5<<?��<?C�=93B[6?>?C�45�1<D1�9=@541>391�C[<?�@E545>�EC1BC5�3?>�312<5C�B5<1D9F1=5>D5�3?BD?C�5>DB5���I���=5DB?C���I1�AE5�ED9<9J1B�312<5C�=SC�<1B7?C�5AE9F1<5�1�1BB95C71BC5�1�CE6B9B�9>D5B65B5>391C��ID1=29V>�1�D5>5B�E>1�@VB4941�45�1<D1C�6B53E5>391C�5>�<1�C5Y1<�45�1E49?#?C�=93B[6?>?C�AE5�C5�5=@<51>�ECE1<=5>D5�5>�<?C�C9CD5=1C�@B?65C9?>1<5C�45�1=@<9693139[>�C?>�<?C�4521:1� 9=@541>391� �5>DB5� ���� I� ���� ?8=9?C��� I1� AE5� <?C� @B51=@<969314?B5C� 45� <1C�=5C1C� 45�=5J3<15CDS>�@B5@1B14?C�@1B1�B53929B�5CD?C�F1<?B5C��I�<?7B1B�1CW�E>1�DB1>C65B5>391�=SH9=1�45�F?<D1:5�5>DB5�5<=93B?�I�5<�@B5F9?'?B� ?DB?� <14?�� ED9<9J1>4?� <W>51C� 45� 21:1� 9=@541>391�� 5C� @?C92<5� EC1B� 312<5C� 45� =1I?B� <?>79DE4� C9>@VB4941C�1@B53912<5C�45�<1�C5Y1<�CW��@?B�5:5=@<?��C9�C5�ED9<9J1�E>�312<5�45����=5DB?C�@1B1�E>9B�E>�=93B?�45�21:1�9=@541>391�3?>�E>1=5C1�� <1� @VB4941� D?D1<� AE5� B579CDB1� <1� C5Y1<� 45� 1E49?� 5C� 45� C[<?� E>� 453925<9?� 5>� <1C� 6B53E5>391C@B[H9=1C�1�<?C� ��; J

#P%��*���#�%�����*#?C� 312<5C� AE5�E>5>� <?C�=93B[6?>?C�45� <?C�5AE9@?C�4?=VCD93?C�3?>D95>5>�5>�CE� 9>D5B9?B�4?C <W>51C3?>4E3D?B1C��E>1�35>DB1<�@?B�4?>45�49C3EBB5�<1�C5Y1<�45�1E49?��I�AE5�B53925�5<�>?=2B5�45�F9F?���I�?DB15HD5B9?B�AE5�B?451�1<� �F9F?��AE5�B53925� <1�45>?=9>139[>�45�=1<<1��I�AE5�5CDS�3?>53D141�1�D95BB1�?�1<381C9C�45<�1=@<969314?B��=21C�<W>51C�5CDS>�@B?D57941C�I�19C<141C�=5491>D5�=1D5B91<�@<SCD93?#1�6E>39[>�45�<1�=1<<1�5C�<1�45�@B?D575B�1<�312<5�45�C5Y1<�45�D?4?�D9@?�45�9>D5B65B5>391C�5HD5B>1C��AE5@E545>� F5>9B� 45� <?C� DB1>C6?B=14?B5C�� 6E5>D5C� 45� 1<9=5>D139[>�� 3?>=ED14?B5C� 45� <E35C�� 5D3� #1CC5Y1<5C� 45� B149?6B53E5>391� D1=29V>� @E545>� 31EC1B� @B?2<5=1C� 45� 9>D5B65B5>391� 5>� <1C� <W>51C=93B?6[>931C�3?>�4?C�3?>4E3D?B5C%?� ?2CD1>D5� <1� 5653D9F9414� 45� <1� =1<<1� 1>D5� <1C� 9>D5B65B5>391C� >?� 5C� 12C?<ED1� !451<=5>D5� 5CD1C9>D5B65B5>391C� C?>� 9>D5B35@D141C� @?B� <1�=1<<1�� AE5� 13D\1� 3?=?� E>1� @1>D1<<1� B?451>4?� 1<� F9F?�� I� <1C5>FW1�81391�<1�D?=1�45�D95BB1�?�5<�381C9C�45<�1=@<969314?B�'5B?�5>�<1�@BS3D931�E>1�2E5>1�@B?@?B39[>�455CD1C�C5Y1<5C�@1BSC9D1C�@E545�<<571B�81CD1�5<�F9F?�I�1653D1B�1�<1�C5Y1<�45�1E49?'1B1�B5C?<F5B�3?>�=SC�5653D9F9414�5CD5�@B?2<5=1�C5�ED9<9J1>�<?C�C9CD5=1C�45�312<514?�21<1>3514?��><1�697EB1� ��C5�=E5CDB1�5>�5CAE5=1�<1�3?>CD9DE39[>�45�E>1�<W>51�21<1>35141��AE5�3?>D95>5�4?C�312<5C3?>4E3D?B5C� 45� <1� C5Y1<� 45� 1E49?� ���� I ����� B?4514?C� 45� <1� =1<<1�� AE5 13D\1� 3?=?� @1>D1<<1@B?D53D?B1�'1B1�AE5�5CD5�C9CD5=1�C51�5653D9F?�5C�>535C1B9?�AE5�D1>D?�5<�=93B[6?>?�3?=?�<1�3?>5H9[>1<�@B51=@<969314?B�?�1�<1�=5C1�49C@?>71>�45�<?C�3?>53D?B5C�3?BB5C@?>495>D5C

�5>DB?�45<�=93B[6?>?��<1�C5Y1<�45�1E49?�C5�49F945�5>�4?C 61C5C�?@E5CD1C�=5491>D5�E>�DB1>C6?B=14?B�CD1C�61C5C�C5�3?>?35>�3?>�<?C�>?=2B5C�45�@?C9D9F1�I�>571D9F1�?�295> ���I������I�C?>�<1C�C5Y1<5CAE5�39B3E<1>�@?B�<?C�4?C�3?>4E3D?B5C�35>DB1<5C�45�<1�<W>51�#1�=1<<1�C5�3?>53D1�1�D95BB1�@?B�<1�=5C1�45=5J3<1C�I� @?B�5<�?DB?�5HDB5=?��1<�3E5B@?�45<�=93B[6?>?��45�6?B=1�AE5�@?B�5<<1�>?�39B3E<1�C5Y1<�1<7E>1�E1>4?� <1C�4?C�C5Y1<5C� <<571>�1<�@B51=@<969314?B�45� <1�=5C1��?DB?� DB1>C6?B=14?B� 9>F95BD5� <1� 61C5�45E>?� 45� <?C� 3?>4E3D?B5C�� I� 1Y145� <1� C5Y1<� B5CE<D1>D5� 1<� ?DB?� 3?>4E3D?B�� 45� 6?B=1� AE5� D5>4B5=?C>E5F1=5>D5�<1�C5Y1<�45�1E49?�?B979>1<�E1>4?�1<7E>1�9>D5B65B5>391�45�3E1<AE95B�D9@?�1653D1�1�<1C�C5Y1<5C�1E49?�4EB1>D5�CE�B53?BB94?�5>�E>1<W>51�21<1>35141�� <1C�1653D1�1�1=21C�@?B�E>� 97E1<��I1�AE5�@BS3D931=5>D5�?3E@1>�E>�=9C=?�5C@139?6WC93?��>�5<�=?=5>D?�AE5�<1� 9>D5B65B5>391� <<571�1<�@B51=@<969314?B�45�<1�=5C1��<1�61C5�45�E>?�45�<?C3?>4E3D?B5C� 5C� 9>F5BD941� �5� 5CD1� 6?B=1� B5CE<D1� AE5� <1C� 4?C� C5Y1<5C� C5� 3?=29>1>�� E>1� 45� 5<<1CDB1>C@?BD1�<1�9>D5B65B5>391�5>�61C5�@?C9D9F1�I�<1�?DB1�5>�61C5�>571D9F1��3?>�<?�3E1<�B5CE<D1�AE5�C5�1>E<1>5>DB5�C9�'1B1�AE5�5CD1�1>E<139[>�C51�D?D1<=5>D5�5653D9F1�5C�@B539C?�AE5�<1�1339[>�45<�DB1>C6?B=14?B9>F5BC?B�45�61C5�C51�C9=VDB931�I�5653D9F1�1�D?41C�<1C�6B53E5>391C��I1�AE5�5>�31C?�3?>DB1B9?�E>1 @?B39[>45�<1C�@?C92<5C�9>D5B65B5>391C�1653D1BS�1�<1�C5Y1<�45�1E49?�DB1>C@?BD141

���#���&�/��&%�.!&%�*�C� 3?>F5>95>D5� AE5� <?C� 312<5C� 3?>4E3D?B5C� 45� <1C� <W>51C� =93B?6[>931C� D5>71>� E>1� 31@139DS>391B54E3941��5C�4539B��AE5�@B5C5>D5>�E>1�@VB4941�=EI�21:1�1<�DB1>C@?BD5�45�<1C�1<D1C�6B53E5>391C��CD?�5C=SC�B5<5F1>D5�3E1>4?�<1�49CD1>391�5>DB5�5<�=93B[6?>?�I�<1�=5C1�5C�3?>C945B12<5#?C�3?>53D?B5C�=SC�ED9<9J14?C�@1B1� <1C� <W>51C�=93B?6[>931C�C?>� <?C�45� D9@?� :13;�45����45�@E<7141�3E1>4?�C5�DB1D1�45�E>1�<W>51�C9>�21<1>351B��I�<?C�.#)�3E1>4?�C5�DB1D1�45�E>1�<W>51�21<1>35141���97 �

#?C�3?>53D?B5C�5CDS>41B�ED9<9J14?C�5>�1@<93139?>5C�@B?65C9?>1<5C�<<5F1>�E>�3?>53D?B�85=2B1�.#)�@1B15<�=93B[6?>?��I�E>�3?>53D?B�=138?�.#)�@1B1�CE�9>C5B39[>�5>�<1�=5C1�45�=5J3<1C#?C�DB5C�C1<95>D5C�45� <?C�3?>53D?B5C�.#) �AE5�D1=29V>�C?>�3?>?394?C�3?>�5<�>?=2B5�45�3?>53D?B5C�1>?>��5CDS>�>E=5B14?C��#1�=1<<1�4525�5CD1B�E>941�1<�C1<95>D5����<1�C5Y1< ���?�@?C9D9F?�1<�C1<95>D5� �I�<1�C5Y1< ����?�>571D9F?�1<�C1<95>D5��

*9� @?B� 31EC1� 45� E>� 5BB?B� 5>� <1� C?<414EB1�� <1C� D5B=9>1<5C� � I� �� 5CDEF95B1>� 9>D5B31=29141C� 5>DB5� C9�B5CE<D1BW1� AE5� 3E1>4?� 5<� 4916B17=1� 45<� =93B[6?>?� B579CDB1B1� E>� 393<?� C?>?B?� @?C9D9F?�� <1� C5Y1<B5CE<D1>D5� @B?4E39BW1� E>� F?<D1:5� >571D9F?�� I� F935F5BC1� �CD5� 8538?� >?� B5@B5C5>D1� >9>7\>� @B?2<5=13E1>4?�C5�DB121:1�3?>�E>�C[<?�=93B[6?>?�@1B1�E>1�6E5>D5�45�C?>94?��@5B?�3E1>4?�C5�31@D1�3?>�=SC45�E>�=93B?�<1�=9C=1�6E5>D5�C?>?B1��E>�5BB?B�45�5CD5�D9@?�3?><<5F1�@B?2<5=1C�45294?�1�AE5�<1�C5Y1<�451E49?�<<571BS�1�<1�=5C1�3?>�<1�61C5�9>F5BD941��31>35<1>4?�@1BD5�45�5CD1�C5Y1<�E1>4?�4?C�=93B[6?>?C�5CDS>�5=@<1J14?C�E>?�35B31�45�?DB?��I�CEC�C5Y1<5C�C5�E>5>�5>�<1�=5C1�45=5J3<1C��<1C�C5Y1<5C�3?=29>141C�45�E>?�I�?DB?�4525>�5CD1B�E>?C���4��@?B�5>39=1�45�<1�C5Y1<�45�E>?C[<?��C9�>?�C5�B579CDB1�5CD5�9>3B5=5>D?�5C�@B?212<5�AE5�E>?�45�<?C�=93B[6?>?C�5CDV�6E5B1�45�61C5��I�C5@B?4EJ31�E>1�31>35<139[>�@1B391<�45�<1�C5Y1<���97 ��

�CD1� 3?=@B?2139[>� 45� 61C5� 3?>F95>5� 5653DE1B<1� C95=@B5� AE5� 5H9CD1>� 4E41C� C?2B5� <1� 2?>414� 45<3?>5H9?>14?�45� <?C�=93B?C�3?>� <1�=5C1��>?B=1<=5>D5�21CD1BS�3?>�@E<C1B�5<�3?>=ED14?B�45�61C5�45E>?�45�<?C�31>1<5C�4?>45�5>DB1�<1�C5Y1<�=93B?6[>931��@1B1�3?=@B?21B�C9�?3EBB5�E>�1E=5>D?�45�<1�C5Y1<3?>:E>D1� ?� 295>� E>1� 49C=9>E39[>� 45� VCD1� +5>71=?C� 5>� 3E5>D1� AE5�� 3E1>4?� E>1� C5Y1<� 31>35<1@1B391<=5>D5�1�?DB1��C5�8135�=SC�@1D5>D5�5>�<?C�D?>?C�=SC�1<D?C��=95>DB1C�AE5�5>�<?C�D?>?C�=SC�21:?C31C9�>?�C5�14F95BD5�>9>7E>1�4965B5>391

$!�)Q�&%&*������)��+�)P*+!��*�-�)!��#�*�H9CD5>� 5>� 5<� =5B314?� 1<7E>?C� =?45<?C� 45� =93B[6?>?� 3EI1� 31B13D5BWCD931� 49B5339?>1<� @E545� C5B5C3?7941� 1� F?<E>D14� %?B=1<=5>D5�� C5� DB1D1� 45� =93B?C� 49>S=93?C� ?� 45� 39>D1�� I1� AE5� <?C� 453?>45>C14?B �@?B�CE�@B?@91�5CDBE3DEB1�9>D5B>1��C?>�=SC�496W39<5C�45�141@D1B�@1B1�5CD1�1@<93139[>�%??2CD1>D5�C5�@E545>�5>3?>DB1B�1<7E>?C�=?45<?C�45�3?>45>C14?B�AE5�?6B535>�<1�@?C929<9414�45�F1B91B�<149B5339?>1<9414�45�31@D139[>��5>DB5�<?C�AE5�C5�81<<1>�=93B[6?>?C�D1>�EC14?C�5>�<?C�5CDE49?C�3?=?�5<�"���������?�5<�%5E=1>>�,��#1�F5>D1:1�45�3?>D1B�3?>�5CD?C�=93B?C�5C�5F945>D5��'?B�5<�@B539?�45�E>�=93B[6?>?�@?45=?C�3?>D1B�3?>E>1� E>9414� AE5� >?C� @B?@?B39?>1� <1C� 31B13D5BWCD931C� 49B5339?>1<5C� 45� DB5C� =93B?C� 49CD9>D?C�&=>949B5339?>1<���949B5339?>1<�I��1B49?945�$E38?�=SC� 3?BB95>D5� B5CE<D1� 5>3?>DB1B�=93B[6?>?C� AE5� 3?>D95>5>� 5>� CE� 3E5B@?� E>� 69<DB?� @1C1�1<D?C3?>=ED12<5��AE5�C9BF5�8129DE1<=5>D5�@1B1� B54E39B�5<� 5653D?�45�@B?H9=9414�45� <?C�=93B?C�49>S=93?C�CD?C�69<DB?C�CE5<5>�3?=5>J1B�1�?@5B1B�1�@1BD9B�45�<?C� ��� J�1@B?H9=141=5>D5�I��1�=54941�AE5�<1C6B53E5>391C�C?>�=SC�21:1C��5<� 613D?B�45� B54E339[>�F1�5>�1E=5>D?��CW� C5�@E545� <?7B1B��5>DB5�?DB1C3?C1C�� 3?=@5>C1B� 5<� 5653D?� 45� @B?H9=9414� 3E1>4?� C5� ?@5B1� 3?>� E>�=93B?� 31B49?945� I� C5� DB121:1� 15C31C1�49CD1>391�45�<1�6E5>D5�C?>?B1

*!*+�$�*����$!�)&�&%P��!%�#N$�)!���E1>4?� E>�=\C93?� ?� E>� 31>D1>D5� C5 45C@<135� 45� <E71B� @?B� 5<� 5C35>1B9?�� 5<� 312<5� 45<�=93B?� @E545CE@?>5B� E>1� 49693E<D14� @1B1� 5653DE1B� <92B5=5>D5� 5CD?C�=?F9=95>D?C�'1B1� CE@5B1B� 5CD1� <9=9D139[>�� <19>4ECDB91� 5<53DB[>931� @B5C5>D[� 1� 3?=95>J?C� 45� <1� 4V3141� 45� <?C� ��� 5<� C9CD5=1� 45� =93B?6?>W19>1<S=2B931,>�C9CD5=1�9>1<S=2B93?�3?>C9CD5�5>�E>�=93B[6?>?�AE5�<<5F1�14?C14?�E>�DB1>C=9C?B�45�B149?��I�45�E>B535@D?B�AE5�B53925�1�49CD1>391�<1�5=9C9[>�45<�C?>94?�31@D14?�@?B�5<�=93B?#1�3S@CE<1�=93B?6[>931�I� <1�5=9C?B1�@E545>�5CD1B�3?>D5>94?C�5>�5<�=9C=?�3E5B@?�45<�=93B[6?>?��5<3E1<� D1=29V>� 1<25B71� E>1� @9<1� @1B1� 1<9=5>D1B� 1<� DB1>C=9C?B� 45� B149?� #1� 1>D5>1� 45� 5CD5� DB1>C=9C?B@E545�AE541B�6E5B1�45<�=93B[6?>?��I�D5>5B�5<�1C@53D?�45�E>�3?B45<�AE5�3E5<71��?�295>�1<25B71BC5�5>�5<9>D5B9?B�45<�=93B?��D1<�I�3?=? CE3545�3?>�<1�=1I?BW1�45�=?45<?C�B5395>D5C

�>�?DB?C�31C?C�5<�3E5B@?�45<�DB1>C=9C?B�5CDS�C5@1B14?�45�<1�3S@CE<1�=93B?6[>931��@5B?�E>94?C�5>DB5�CW@?B�5<�312<5�@?BD14?B�45� <1�C5Y1<�45�1E49?��CD5�5C�5<�31C?�45� <?C�=93B?C� 9>1<S=2B93?C�45CD9>14?C�131@D1B�5< C?>94?�45�49F5BC?C�9>CDBE=5>D?C�=EC931<5C��5>�AE5�@1B1�5F9D1B�AE5�5<�3E5B@?�45<�=93B?�D5>71E>�F?<E=5>�5H175B14?��<1�3S@CE<1�=93B?6[>931�C5�69:1�5>�5<� 9>CDBE=5>D?�I�E>�@5AE5Y?�312<5�49B975�<1C5Y1<� 81391� <1� E>9414� DB1>C=9C?B1�� AE5� CE5<5� 3?<?31BC5� 5>� E>� 2?<C9<<?� 45<� =\C93?� �CD?C� C9CD5=1C9>3?B@?B1>�E>�=93B?�D9@? �����������?�45�3?B21D1��3EI?�@5AE5Y?�D1=1Y?�<?C�8135�=EI�1@D?C�@1B1�5CD1C1@<93139?>5C#1�E>9414�B535@D?B1�5C� <1�AE5�C5�5>31B71�45�31@D1B� <1�5=9C9[>��F91�B149?6B53E5>391��45� <1�C5Y1<�AE5@B?F95>5 45<� DB1>C=9C?B� '1B1� 6E>39?>1B� @B539C1� 5CD1B� 3?>53D14?� 1� <1� B54� 5<V3DB931�� ?� 295>� 5CD1B1<9=5>D14?�@?B�E>1�@5AE5Y1�21D5BW1�?�@9<1��<� B535@D?B�13?CDE=2B1�1�49C@?>5B�45�E>�B57E<14?B�AE5C9BF5�@1B1�3?>DB?<1B�3?>�@B539C9[>� <1� 6B53E5>391�45�B535@39[>��I1�AE5� <1� 6B53E5>391�3?>�AE5�5=9D5� <1E>9414�5=9C?B1�CE5<5�C5B�69:1��I�5CD1B�5C@539693141�5>�3141�=?45<?#?C� =?45<?C� =SC� B5395>D5C� 45� =93B[6?>?C� 9>1<S=2B93?C� @5B=9D5>� E>1� 5<5F141� 49CD1>391� 5>DB5� 5<5=9C?B�I�5<�B535@D?B��@E495>4?�5>�1<7E>?C�31C?C�49CD1B�=SC�45��� =5DB?C��C9>�AE5�5<<?�CE@?>71�E>1=5B=1�5>� <1�31<9414�45� <1�C5Y1<� DB1>C=9D941��>� <1� 697EB1� ����@?45=?C�F5B�5<�1C@53D?�6WC93?�45�E>C9CD5=1�9>1<S=2B93?�5C@5391<�@1B1�F?31<9CD1C��I�5>�<1� ����E>�C9CD5=1�3?>�3S@CE<1�5<53DB5D�1453E14?@1B1�31@D1B�9>CDBE=5>D?C�45�F95>D?

%?�5H9CD5>�1\>�E>?C�=SB75>5C�9>D5B>139?>1<=5>D5�4569>94?C�@1B1�<1C�3?=E>93139?>5C�45�<?C�C9CD5=1C9>1<S=2B93?C� 45�=93B?6?>W1��CD?� C97>96931� AE5�� 5>� D5?BW1�� <?C�=93B?C� 9>1<S=2B93?C�@E545>� DB1>C=9D9B@?B� 3E1<AE95B� 21>41� 45� 6B53E5>391C� %?� ?2CD1>D5�� I� @1B1� 5F9D1B� 395BD?C� =SB75>5C� 45� 6B53E5>391?3E@14?C�@?B�DB1>C=9C9?>5C�=9<9D1B5C�I�?69391<5C��<1C�6B53E5>391C�=SC�ED9<9J141C�@?B�<?C�612B931>D5C�C?><1C�AE5�1@1B535>�5>�<1�697EB1� �

')&�#�$N+!������#��$!�)&�&%!��!%�#N$�)!��*?>�4?C�<?C�@B?2<5=1C�AE5�C5�@B5C5>D1>�3?>�=1I?B�6B53E5>391�3E1>4?�C5�5CDS�ED9<9J1>4?�E>?�?�F1B9?CC9CD5=1C�45�=93B?C�9>1<S=2B93?C��#1C�9>D5B65B5>391C�I�<1C�@VB4941C�45�C5Y1<#1�9>D5B65B5>391�31EC141�@?B�?DB1�5=9C9[>�45�B149?6B53E5>391�5C�E>?�45�<?C�@B?2<5=1C�=SC�=?<5CD?C�I45�=SC�496W39<�B5C?<E39[>�AE5�C5�@E545>�@B5C5>D1B�(E5�>?�5H9CD1�5CD5�D9@?�45�@B?2<5=1�5>�E>�<E71B�>?9=@<931�5<�AE5�>?�F1I1�1�1@1B535B�3E1>4?�C5�13D\1�5>�?DB?�C9D9?��I1�AE5�<1C�6B53E5>391C�45�5=9C9[>�45B149?�� +-�� B149?D1H9C�� 5D3� F1BW1>� 45� E>� C9D9?� 1� ?DB?� �CD1C� 9>D5B65B5>391C� @E545>� ?3EBB9B� D1>D?� C9� C5DB1>C=9D5�@?B�- ��3?=?�C9�C5�8135�@?B�, �#1�@VB4941�=?=5>DS>51�45�B535@39[>�@?B�@1BD5�45<�B535@D?B�5C�?DB?�45�<?C�@B?2<5=1C�=SC�6B53E5>D5C�I�AE5�@E545�5CD1B�=?D9F14?�@?B�49F5BC?C�613D?B5C��CD1C�@VB4941C�45�C5Y1<��3?>?3941C�5>�5<�<5>7E1:5DV3>93?�3?>�<1�45>?=9>139[>�45��4B?@?ED���D95>5>�31B13D5BWCD931C�4965B5>D5C�3E1>4?�C5�DB1>C=9D5�@?B�<1

21>41� 45� - �� 1� 3E1>4?� C5� DB1>C=9D5� @?B� , ��� 5>� 5CD1� \<D9=1� 21>41� <1C� J?>1C� 4?>45� ?3EBB5� 5<�4B?@?ED�� 5CDS>� 21CD1>D5� 4569>941C� I� ?3E@1>� @?3?� 5C@139?�� 45� 6?B=1� AE5� C9� 5<�=\C93?� @?BD14?B� 45<=93B?�5=9C?B�C5�=E5F5�E>�@?3?��5CD5�@B?2<5=1�CE5<5�45C1@1B535B#1�@VB4941�45�B535@39[>�@E545�C5B�452941��5>�1<7\>�31C?��1�AE5�5<�5=9C?B�5CDV�45=1C914?�1<5:14?�45<B535@D?B��?�295>�1 AE5�5H9CD1>�49F5BC?C�?2CDS3E<?C�5>DB5�E>?�I�?DB?�,>1�B5<?31<9J139[>�45<�B535@D?B�@1B1�135B31B<?�1<7?�=SC�1<�5=9C?B��@E545�C5B�E>1�C?<E39[>��1CW�3?=?�D1=29V>�9>D5>D1B�AE5�5>DB5�<1C4?C�E>94145C�5H9CD1>�5<�=5>?B�>\=5B?�45�?2CDS3E<?C�6WC93?C�C�9=@?BD1>D5 3?>C945B1B�AE5�C[<?�E>1�@5AE5Y1�@1BD5�45�<1�@?D5>391�5=9D941�@?B�5<�=93B?�5=9C?B�<<5711<�B535@D?B��I1�AE5�5<�5=9C?B�9BB1491�<1�C5Y1<�5>�D?41C�<1C�49B5339?>5C�C9=E<DS>51=5>D5��45@5>495>4?<1� 5653D9F9414� 45<� C9CD5=1� 45� <1� 569395>391� I� C9DE139[>� 45� <1� 1>D5>1� B535@D?B1� �C� 12C?<ED1=5>D5B53?=5>412<5� AE5� <1C� @9<1C� AE5� 1<9=5>D1>� 1<� DB1>C=9C?B� 5=9C?B� 45<� =93B?� 5CDV>� C95=@B5� 1� @<5>131B71��3?=?�=54941�@B5F5>D9F1�45�3E1<AE95B�@VB4941�5>�<1�5=9C9[>#1�569395>391�45�E>�C9CD5=1�9>1<S=2B93?�@E545�F5BC5�1653D141�@?B�<?C�49F5BC?C�?2CDS3E<?C�6WC93?C�AE5@E541�8125B�5>DB5�5=9C?B�I�B535@D?B��>�5CD?C�31C?C�E>�@5AE5Y?�31=29?�45�@?C939[>�45<�B535@D?B��?295>�45�<1�@?C939[>�45�<1�1>D5>1�@E545�=5:?B1B�<1�B535@39[>��1E>AE5�>?�C95=@B5�CE3545�1CW&DB1�@?C92<5�31EC1�45�9>D5B65B5>391C�5C�<1�@B?H9=9414�45�C9CD5=1C�45�9<E=9>139[>��3S=1B1C�45�+-��?45� ?2:5D?C� =5DS<93?C� AE5� @E541>� B56<5:1B� <1C� C5Y1<5C� 45� B149?6B53E5>391� �E1>4?� 5CD?� CE3545� <1CC5Y1<5C�B56<5:141C�@E545>�31>35<1B�?�B51<J1B�<1�C5Y1<�49B53D1��I1�AE5�<<571>�3?>�E>1�B5<139[> 45�61C549CD9>D1��I�5<�B5CE<D14?�5C�E>1�B535@39[>�B5@<5D1�45�1<D921:?C�C?>?B?C#1�ED9<9414�45�<1C�1>D5>1C�3?>�E>1�71>1>391�5<5F141�=5:?B1�<1�B5<139[>�C5Y1<BE94?�45�<1�DB1>C=9C9[>�B54E395>4?� <1�@?C929<9414�45�AE5�C5�@B?4EJ31>� 9>D5B65B5>391C�I� 31>35<139?>5C�5>� <1� DB1>C=9C9[>��>1<7E>?C�31C?C�� 9>3?B@?B1B�E>1�1>D5>1�45�1<D1�71>1>391�1<�5<5=5>D?�B535@D?B�@E545�C5B�E>1�C?<E39[>C5>39<<1�I�B5<1D9F1=5>D5�53?>[=931&DB1� @?C92<5� C?<E39[>� 5C� <1� 45� C9DE1B� 5<� B535@D?B� =SC� 35B31� 45<� 5=9C?B�� 3E1>4?� ?DB1C� C?<E39?>5C1<D5B>1D9F1C� I1� 81I1>� C94?� 45C538141C� *5� DB1D1BW1�� @E5C�� 45� 49C@?>5B� 5<� B535@D?B� 1�=549?� 31=9>?5>DB5�5<�5=9C?B�I�<1C�D?=1C�=93B?6[>931C��I�E>9B�=5491>D5�5<�312<5�3?BB5C@?>495>D5�<1�C1<941�45<�5=9C?B3?>� <1C� 5>DB141C� 45�=93B?� �3?BD1B� 5<� 31=9>?� 45� <1� C5Y1<� 5=9D941� @E545� C?<F5>D1B� 5<� @B?2<5=1� 5>=\<D9@<5C�?31C9?>5C�>�1<7E>?C�C9CD5=1C�9>1<S=2B93?C�5C�@?C92<5�AE5��1�31EC1�45�1<7\>�=?D9F?��C51�9=@?C92<5�5<9=9>1B�45<D?4?� 5<� �4B?@?ED�� 45� <1� C5Y1<� 45� 1E49?�� ED9<9J1>4?� E>1� C?<1� 1>D5>1� #1� DV3>931� AE5� C5� D5>4BS� AE55>C1I1B��5>�D?4?C�5CD?C�31C?C��5C�<1�<<1=141�45�B535@39[>�49F5BC9693141�#1�9451�5C�=EI�C5>39<<1��C5DB1D1�45�C9DE1B�@?B�D?4?�5<�5C@139?�5C3V>93?�4?C�?�=SC�1>D5>1C�E>941C�5>DB5�CW�1<�B535@D?B�=93B?6[>93?�49F5BC96931B� <?C� @E>D?C� 45� B535@39[>� CE5<5�=5:?B1B� 5<� 6E>39?>1=95>D?� 45� E>� C9CD5=1� 9>1<S=2B93?� *9295>�5CD5�C9CD5=1�>?�@E545�1C57EB1B�D?D1<=5>D5�E>1�B535@39[>�@5B653D1��<?�395BD?�5C�AE5�9>3?B@?B1B�E>C9CD5=1� B535@D?B� 3?>� 1>D5>1C� =\<D9@<5C� 5C� 5<� =5:?B� C9CD5=1� @1B1� @B5F5>9B� <1� 1@1B939[>� 45� @E>D?C=E5BD?C�4EB1>D5�<1�DB1>C=9C9[>�=93B?6[>931

��+&*�&)!�%+�+!-&*�'�)���*�&��)�,%�$!�)Q�&%&�E1>4?� C5� 5C3?75� E>� =?45<?� 45D5B=9>14?� 45� =93B[6?>?�� 81I� AE5� 9>D5>D1B� 3?>?35B� 3?>� 395BD15H13D9DE4�3ES<5C�C?>�<1C�3E1<94145C�I�<1C�<9=9D139?>5C�45<�=?45<?�5>�3E5CD9[>#1� 3?BB53D1� C5<5339[>� 45� <1� =93B?6?>W1� 5C� E>?� 45� <?C� 613D?B5C� =SC� 9=@?BD1>D5C� @1B1� ?2D5>5B� E>12E5>1� C?>?B9J139[>�� I� >?� C95=@B5� 5<� =93B[6?>?� =SC� 31B?� 5C� 5<� =SC� 94[>5?� @1B1� E>� DB121:?45D5B=9>14?#1�\>931�5F1<E139[>�6912<5�AE5�@?45=?C�B51<9J1B�3?>�E>�=93B?��5C� <1�45�CE�3?>5H9[>�I�5C3E381�#?C6?<<5D?C� DV3>93?C� @E545>� 9>4931B>?C�� 81CD1� 395BD?� @E>D?�� C9� 5<� =?45<?� 5>� 3E5CD9[>� B5\>5� <1C31B13D5BWCD931C�AE5�>?C�9>D5B5C1>��@5B?�C[<?�45C@EVC�45�E>1�@BE521�5>�F9F?��I�3?>�5<�9>CDBE=5>D?�AE54521�31@D1B��C5BS�@?C92<5�5F1<E1B�3?>�395BD1C�71B1>DW1C�C9�VCD5�5C�5<�=93B?�AE5�>?C�3?>F95>5 1I�AE5�D5>5B�@B5C5>D5�<1�6E>39[>�5C@53W6931�AE5�E>�=93B[6?>?�F1�1�D5>5B��3ES<�F1�1�C5B�5<�9>CDBE=5>D?AE5�F1�1�31@D1B��I�=EI�5C@5391<=5>D5�C9�F1�C5B�45CD9>14?�1�DB121:1B�5>�5CDE49?�?�5>�C?>?B9J139?>5C�5>F9F?��>�1<7E>?C�31C?C�@E545� DB1D1BC5�45�E>�=?45<?�AE5�C5�AE95B1�45CD9>1B�1� F1B91C� 6E>39?>5C��5>5CD?C� 31C?C� 3?>F95>5� 5<579B� 1<7\>� =93B?� @?<9F1<5>D5�� AE5� >?C� @5B=9D1� 31=291B� CEC� 31B13D5BWCD931C49B5339?>1<5C�I�AE5�3?>D5>71�69<DB?C�@1C1�21:?C 1I�AE5�B53?B41B��@?B�\<D9=?��AE5�@?B�2E5>1�AE5�C51� <1�31<9414�45<�=93B[6?>?�5C3?794?�� <1�@?C939[>AE5�?3E@5� C5BS� 4569>9D?B91� 5>� <1� 31<9414�45� <1� D?=1��E1>4?�C5� DB121:1�5>�49B53D?C�5<�=1B75>�@1B1C9DE1B�5<�=93B[6?>?�5C�21CD1>D5�5C31C?��@5B?�5H9CD5��E1>4?�C5�5653D\1�3E1<AE95B�7B12139[>�5>�5CDE49?5C�3E1>4?� <1� C9DE139[>�45<�=93B?� B5C@53D?�1� <1� 6E5>D5�C?>?B1�3?2B1�CE�=1I?B� 9=@?BD1>391� 1<<1B� <1C9DE139[>� =SC� 3?>F5>95>D5� @1B1� C9DE1B� 5<� =93B?� 5C� <1� @B9=5B1� B57<1� 45� ?B?� @1B1� ?2D5>5B� 2E5>1C7B12139?>5C

�#�,%&*�$!�)Q�&%&*�����)��,�%+��,+!#!0��!Q%#?C�=?45<?C�AE5�C5�3?=5>D1>�5>�5CD5�1@1BD14?�C?>�1<7E>?C�45� <?C�=SC�ED9<9J14?C�5>�5CDE49?�I�5>49B53D?�1�>9F5<�=E>491<��<<?�>?�@B5CE@?>5�AE5�5CD?C�=93B?C�C51>�=5:?B5C�?�@5?B5C�AE5�?DB?C��I1��AE5<1�ED9<9414�45�5CD5�@5AE5Y?�31DS<?7?�5C�C[<?�@B5D5>45�?B95>D1B�C?2B5�<?C�EC?C�=SC�9>49314?C�1�AE5�C54525>�45CD9>1B�5CD?C�=93B[6?>?C�5>�@1BD93E<1B

�$!�)&�&%&*��!%�$!�&*� +63(� ��������97� ����C�E>?�45�<?C�=?45<?C�=SC�1=@<91=5>D5�ED9<9J14?C��D1>D?�5>�49B53D?C�3?=?�5>5CDE49?��C@5391<=5>D5� 9>49314?�@1B1� <1C�D?=1C�45�49F5BC?C� 9>CDBE=5>D?C�5>�@95J1C�45�B?3;��C5�EC1@1B1��7E9D1BB1C�5<V3DB931C��D9=21<5C��7?<91D8��I�C1H?C��3?>�@B565B5>391��?>�31B13D5BWCD931C�31B49?945C��<171=1�45�6B53E5>391C�AE5�31@D1�C5�5HD95>45�45C45�<?C ��� J�1�<?C����; J�3DE1<=5>D5�5CDS�49C@?>92<5�5CD5�=9C=?�=?45<?�5>�CE�F5BC9[>��5D1��1�21C5�45�<1�>E5F1�3S@CE<1�45>5?4I>9E=�AE5�1E=5>D1�CE�C5>C929<9414�I�B54E35�<975B1=5>D5�5<�BE94?�45�6?>4?��9>85B5>D5�1�D?4?C�<?C=93B?C�45�D9@?�49>S=93?

+63(� ��������97� ����C�E>?�45�<?C�=93B[6?>?C�=SC�ED9<9J14?C�@1B1�31@D1B�F?35C��5�3?>CDBE339[>=EI�B?2ECD1��CE�ED9<9414�5>�<?C�49B53D?C�5CDS�6E5B1�45�D?41�4E41�#1�=1<<1�AE5�3E2B5�CE�3S@CE<1�5CDS5C@5391<=5>D5� 5CDE49141� @1B1� B54E39B� 5<� 5653D?� 45� @B?H9=9414�� I� 1<� D95=@?� B51<J1B� <1C� 6B53E5>391C3?=@B5>4941C�5>DB5�<?C���I�<?C���; J��AE5�C?>�<1C�AE5�41>�@B5C5>391�1�<1�F?J�8E=1>1�*E�B5C@E5CD15>�6B53E5>391C�121B31�45C45�<?C���� J�1� <?C����; J�-1B9?C�31>D1>D5C�45�B?3;�ED9<9J1>�D1=29V>�5CD5=?45<?�5>�5CDE49?��I1�AE5 31@D1�CE�F?J�3?>�=SC�3?>DE>45>391�AE5�=E38?C�=93B?C�45�3?>45>C14?B�<� 97E1<�AE5�5<�=?45<?�*$�����D1=29V>�5H9CD5�E>1�F5BC9[>�45<�*$����5AE9@14?�3?>�<1�>E5F1�3S@CE<145�>5?4I>9E=��������� ��97� ����CD5�=93B?�5C�5<�45C35>495>D5�49B53D?�45<��� ��AE5�4EB1>D5�F1B9?C�1Y?C�6E5�5<=93B?�=SC� EC14?�@1B1� C?>?B9J1B� 5<� 2?=2?�45� <1� 21D5BW1��CD5� >E5F?�=?45<?� 3?>D95>5�E>1� 3S@CE<149>S=931�45�7B1>�D1=1Y?��I�CE�B5C@E5CD1�5>�6B53E5>391C�C5�5HD95>45�45C45�<?C� �� J�1�<?C����; J�9C5Y14?�@1B1�31@D1B�9>CDBE=5>D?C�45�21:?C� 1�@BE521�45�C?2B531B71C��I�3?>�<1�2?29>1�3?=@5>C141@1B1�5<9=9>1B�JE=294?C��5C�D1=29V>�=EI�9>49314?�@1B1�31@D1B�5<�21:?�5<V3DB93?�I�5<�3?>DB121:?�13\CD93?

���������97� ���*5�DB1D1�45�E>�=93B[6?>?�AE5�3?>D95>5�4?C�DB1>C4E3D?B5C��5C�4539B��4?C�3S@CE<1C@1B1� <1� 31@D139[>� C?>?B1�� E>1� C9BF5� @1B1� 31@D1B� <1C� 1<D1C� 6B53E5>391C� I� <1� ?DB1� @1B1� <1C� 21:1C6B53E5>391C� �<� 5653D?� 45� @B?H9=9414� AE541� D?D1<=5>D5� 1>E<14?� C9� C5� EC1� 5CD5�=93B?� �?>D95>5� E>1D5>E14?B�45�21:?C�3?>�DB5C�@?C939?>5C�3?>=ED12<5C��I�CE�31=@?�45�6B53E5>391C�3E2B5�45C45�<?C� � J�1�<?C����; J�C�E>�=93B[6?>?�5CDE4914?�@1B1�<1�31@D139[>�45�<1C�F?35C��45�<?C�9>CDBE=5>D?C�45�3E5B41��5>�5C@5391<F9?<?>35<?C��F9?<1C�I�F9?<9>5C���@1B1�5<�@91>?��I�D1=29V>�@1B1�1<7E>?C�9>CDBE=5>D?C�45�F95>D?�(:(3�:0$/,&������*5� DB1D1�45�E>�=?45<?�AE5�?6B535�E>1�31<9414�3?>C945B12<5�� C9� C5� D95>5�5>3E5>D1�CE�3?CD5��5�49B5339?>1<9414�31B49?945��CE�B5C@E5CD1�5>�6B53E5>391C�121B31�45�<?C���� J�1�<?C���; J��C�1453E14?�@1B1�<1C�F?35C��7E9D1BB1�5<V3DB931��I�F95>D?C�5> 75>5B1<��C�E>�=93B[6?>?�B?2ECD?I�@?<9F1<5>D5�AE5�C5�141@D1�@5B653D1=5>D5�1�<?C�3?>395BD?C�5>�F9F?�.(&53171,&(� ���� ��97� ���� �CD5� =?45<?� 6E5� 3?>35294?� 5C@5391<=5>D5� @1B1� C5B� ED9<9J14?� 5>@B?4E339?>5C�45�2B?1431CD�)149?�I�D5<5F9C9[>��@5B?�D1=29V>�5C�EC14?�5>�7B12139?>5C�45�5CDE49?�I�5>49B53D?C�4?>45�<1�31<9414�4521�C5B�=EI�5<5F141

*E�B5C@E5CD1�1� <?C�5CDW=E<?C�C?>?B?C�5C�=EI�E>96?B=5�45>DB?�45�CE�S>7E<?�45�31@D139[>��I�C?@?BD1@B5C9?>5C�=EI�5<5F141C�C9>�AE5�CE�C5Y1<�45�C1<941�B579CDB5�49CD?BC9[>�*E�B5C@E5CD1�5>�6B53E5>391��5C=EI�@<1>1�5>DB5�<?C���� J�I�<?C����; J��I�@E545�C5B�EC14?�@1B1�31@D1B�F?35C��7E9D1BB1C�5<V3DB931C�I21:?C��@91>?C��9>CDBE=5>D?C�45�3E5B41�?�45�F95>D?��E>1�CED9<�5<5F139[>�45�CE�C5>C929<9414�5>DB5�<?C���I<?C�� �; J�B51<J1�<?C�1B=[>93?C�45<�9>CDBE=5>D?�AE5�31@D5�.(&53171,&(� ���� ��� ��97� ��� +?41� <1� C5B95� %�� C5� C9BF5� 45� <1� >E5F1� 5CDBE3DEB1� AE5� 9>D57B1>5?4I>9E=� 3?=?� =1D5B91<� =17>VD93?� 5>� <1� 3S@CE<1� 45<� =93B?� �<<?� 1E=5>D1� <1� 31@D139[>� 45� <1C6B53E5>391C�=SC�1<D1C

�<�%� ����5CDS�9>49314?��1<�97E1<�AE5�5<�%�����@1B1�DB121:1B�5>�3?>395BD?C�5>�49B53D?�*E�B5C@E5CD15>� 6B53E5>391C�F1�45� <?C���� J�1� <?C� ��; J�*E�31@D139[>�5C�=EI�49B5339?>1<�� <?�3E1<� <?�8135�=EI1453E14?� @1B1� C?>?B9J1B� F?35C� I� @5B3EC9[>� �45=SC�� 5<� D9@?� 45 3S@CE<1� AE5� <<5F1� @5B=9D5� E>131@D139[>� =EI� 4569>941� 45� <?C� C?>94?C� DB1>C9D?B9?C�� AE5� C?>� 3BE391<5C� 3E1>4?� C5� C?>?B9J1>9>CDBE=5>D?C�45�@5B3EC9[>

(00+(,4(3� ����� ��97� � �� �C� E>?� 45� <?C� =SC� @?@E<1B5C� I� F5BCSD9<5C� =?45<?C� 45� =93B[6?>?612B9314?C�@?B�<1�69B=1�1<5=1>1�8135�=SC�45� ��1Y?C��?>D95>5�E>�69<DB?�@1C1�21:?C��I�CE�B5C@E5CD15>�6B53E5>391�5C�=EI�@<1>1�5>DB5�<?C���I�<?C����; J�'E545�C?@?BD1B�@B5C9?>5C�13\CD931C�=EI�1<D1C��IC5�ED9<9J1�@1B1�D?4?�D9@?�45�9>CDBE=5>D?C�D1>D?�5>�49B53D?�3?=?�5>�5CDE49?��C9�295>�5C�@1BD93E<1B=5>D59>49314?�@1B1�5<�2?=2?�?�<?C�D1=2?B5C�45�<1�21D5BW1 (00+(,4(3����������,*��� �<�49C5Y?�45�5CD5�=?45<?�I1�5C�E>�3<SC93?�45>DB?�45<�=E>4?�45<�C?>94?�I�5C�ED9<9J14?� D1>D?�5>�5CDE49?C�45� B149?�I�45�7B12139[>�3?=?�5>�13D?C�5>�49B53D?�*E�31@D139[>�5C89@5B31B49?945�� ?6B535� E>1� B5C@E5CD1� 5>� 6B53E5>391� AE5� 121B31� 5>DB5� ��� J� I� �� ; J�� I� D95>5� E>3?>=ED14?B�AE5�B521:1�<1�C5>C929<9414�45<�=93B?�1�D?41C�<1C�6B53E5>391C�@?B�4521:?�45�<?C���; J�<�$����� 6E5�49C5Y14?�?B979>1<=5>D5�@1B1� <1�31@D139[>�45� <1�F?J��@5B?�5C�ED9<9J14?�1�=5>E4?�@1B1EC?C�5>� <?C�AE5�>?B=1<=5>D5�C5�3?<?31>�=93B[6?>?C�45�3?>45>C14?B�� D1<5C�3?=?�7E9D1BB1�13\CD931�9>CDBE=5>D?C�45�F95>D?��5D3

�$!�)&�&%&*��#��+)�+�36(.�$0'��-$(3���� � ��97������CD1� 69B=1�41>5C1� 612B931� <1�C5B95�������E>1�45� <1C�=5:?B5C�5>� <?B565B5>D5�1�<1C�3S@CE<1C�45�3?>45>C14?B�@B5@?<1B9J14?�?�5<53DB5D��<�=?45<?������5C�?=>949B5339?>1<�@B?@?B39?>1� E>1� B5C@E5CD1� =EI� CE1F5� I� E>96?B=5� 1� D?41C� <1C� 6B53E5>391C� 6E5B1� 45<� 5:5�� I� 121B31@BS3D931=5>D5�D?41�<1�71=1�4?>45�C5�45C1BB?<<1�<1�9>6?B=139[>�=EC931<��C�E>?�45�<?C�=93B[6?>?C�AE5C5�D95>5�5>�3E5>D1�3E1>4?��5>�5<�DB121:?�5>�5CDE49?C��C5�45C51�<?7B1B�E>�C?>94?�>1DEB1<�I�C9>�@93?C�5>>9>7E>1� 6B53E5>391�*5�ED9<9J1�@1B1� B579CDB?C�45�=\C931�3<SC931�I�F?31<�I�5C�5C@5391<=5>D5� 9>49314?@1B1�@91>?C��7E9D1BB1�5C@1Y?<1��3?B?C��5�9>CDBE=5>D?C�45�3E5B41�5>�75>5B1<���������� ���97������CD5�=?45<?�D95>5�E>1C�31B13D5BWCD931C�C?>?B1C�AE5�C?>�94V>D931C�1�<1C�45�<?C=93B?C�45�3?>45>C14?B��C9�295>�5CDS�5AE9@14?�3?>�E>1�3S@CE<1�5<53DB5D��E>39?>1�3?>�E>1�@9<1�45���-?��295>�3?>�1<9=5>D139[>�@81>D?=�45����-�*E�31B13D5BWCD931�49B5339?>1<�5C�31B49?945��@5B?�=5491>D5�5<@5AE5Y?� 141@D14?B� ''�� ����� AE5� C5� 9>C5BD1� 5>� <1� 3S@CE<1� 45<� =93B?�� @E545� 3?>F5BD9BC5� 5>89@5B31B49?945*E�B5C@E5CD1�5>�6B53E5>391�F1�45�<?C���� J�1�<?C� ��; J��I�@E545�C5B�ED9<9J14?�F5>D1:?C1=5>D5�@1B131@D1B�F?35C�I�3E5B41C�*5�DB1D1�45�E>�=93B?�AE5�@E545�CECD9DE9B��3?>�E>�3?CD5�B54E394?��1�<?C�3<SC93?C=?45<?C�45�3?>45>C14?B

!$0':��#��� *5� DB1D1�45�E>�=?45<?�3<SC93?�5>DB5� <?C�45>?=9>14?C�=93B[6?>?C�45�@1B54��525�C5B3?<?314?� 5>� E>?� 45� <?C�=EB?C� 45<� 5CDE49?� 4?>45� C5� F1I1� 1� 5653DE1B� <1� 7B12139[>�� 1� E>1�49CD1>391=W>9=1� 45� E>� =5DB?� 45� <1� 6E5>D5� C?>?B1� �<� C?>94?� AE5� B53?75� 5CD5� =93B?� 5C� 5H35@39?>1<=5>D5>1DEB1<� I� B54?>4?�� ED9<9J1>4?� E>� @1B� 45� 5<<?C� C5� <?7B1>� E>1C� D?=1C� 5>� 5CDVB5?� 45� C?B@B5>45>D5=EC931<9414� 'E545� C5B� EC14?� @1B1� 31@D1B� 3E1<AE95B� 9>CDBE=5>D?�� @5B?� CE� ED9<9414� C5� <9=9D1�<[7931=5>D5��1�<1C�D?=1C�5>�5CDE49?�*E�@1DB[>�45�31@D139[>�5C�85=9C6VB93?�3180� ������ �CD5� =93B[6?>?� 45� @5AE5Y?� D1=1Y?� 5C� 45� 31@D139[>� ?=>9�49B5339?>1<�� I� 5CDS5C@5391<=5>D5�9>49314?�@1B1��%����<53DB?>93�>5GC�71D85B9>7���CDS�1<9=5>D14?�@?B�E>1�@9<1�9>D5B>1�45����-��@5B?�D1=29V>�@E545�EC1BC5�1<9=5>D139[>�5HD5B>1�@81>D?=�45�� �1����-��C�21CD1>D5�ED9<9J14?@?B�@1BD5�45�<1C�E>94145C�=[F9<5C�45�B149?�I�D5<5F9C9[>��I�5CDS�9>49314?�5C@5391<=5>D5�@1B1�31@D1B�<1F?J

�$!�)&�&%&*�����&%��%*��&)������������ ��97�����*5� DB1D1�45�E>�=93B[6?>?�AE5�3?>D95>5�4?C�3S@CE<1C�45�4916B17=1�1>38?��IAE5� @5B=9D5� 3?>=ED1B� 1� F?<E>D14� <1� 31B13D5BWCD931� 49B5339?>1<� AE5� C5� 45C55�� &=>949B5339?>1<��9�49B5339?>1<�� �1B49?945�� ?� 9@5B31B49?945� �<� 3?>=ED14?B� C5� 5>3E5>DB1� 5>� <1� =9C=1� 21C5� 45<=93B[6?>?��<���������5CDS�49C5Y14?�@1B1�?@5B1B�3?>�1<9=5>D139[>�@81>D?=�CD5� =93B[6?>?� 5C� E>?� 45� <?C� 61F?B9D?C� 45� <?C� 5CDE49?C� 45� 7B12139[>�� @?B� CE� 49>S=9315H35@39?>1<=5>D5� 1=@<91� I� @?B� CE� B54E394?� BE94?� 45� 6?>4?�� 5CDS� 3?>35294?� @1B1� B5C@?>45B� 1� <1C>535C94145C� DV3>931C� 45� <?C� B579CDB?C� 4979D1<5C� *E� C?>94?� 5C� 2B9<<1>D5� I� DB1>C@1B5>D5�� I� C9BF5� @1B131@D1B�@5B653D1=5>D5�9>CDBE=5>D?C�45�F95>D?��=5D1<��@91>?��3E5B41C��I�D1=29V>�@<1D?C�45�21D5BW1

(00+(,4(3� ���� ��� ��97���� #1� C5B95� $" � 3?=@B5>45� C59C� 49CD9>D?C� =?45<?C� 45� =93B[6?>?C� 453?>45>C14?B��21C14?C�5>�5<�=9C=?� D9@?�45�3S@CE<1�@5B?�3?>�49F5BC1C�31B13D5BWCD931C�49B5339?>1<5C�CD1� 3S@CE<1� 75>5B1� E>� BE94?� 45� 6?>4?� 5HDB5=141=5>D5� 4V29<�� 1\>� C9� <?� 3?=@1B1=?C� 3?>� ?DB1C3S@CE<1C�45�3?>45>C14?B��I�@?C55�E>1�5<5F141�C5>C929<9414�<� =?45<?� $" � ��� 5C 49B5339?>1<�� I� <<5F1� E>� 1D5>E14?B� 45 �� 4�� @1B1� 3E1>4?� 5<� =93B?� D5>71� AE5DB121:1B�3?>�@B5C9?>5C�C?>?B1C�=EI�5<5F141C�+1=29V>�3?>D95>5�E>�1D5>E14?B�45�21:1C�6B53E5>391C�3EI1�5653D9F9414�C5�8135�@1D5>D5�@?B�4521:?�45�<?C����� J�<� 49C5Y?� 45� 5CD5� =93B[6?>?� <?� 81� 4?D14?� 45� <1� CE69395>D5� F5BC1D9<9414� 3?=?� @1B1� @?45B� DB121:1B�9>49CD9>D1=5>D5��C?>?B9J1>4?�9>CDBE=5>D?C�13\CD93?C�AE5�75>5B5>�E>1�4V29<�@B5C9[>�C?>?B1��3?=?�3?><?C�D1=2?B5C�45�E>1�21D5BW1�45�B?3;

�(6/$00�"����&DB?�45�<?C�=93B[6?>?C�3<SC93?C AE5�C5�@E545�5>3?>DB1B�5>�<?C�5CDE49?C�45�B579CDB?�I@B?4E339[>� 'E545� 3?>=ED1BC5� @1B1� AE5� ?@5B5� 3?>� DB5C� 49CD9>D1C� 31B13D5BWCD931C� 45� 31@D139[>�&=>949B5339?>1<���1B49?945�I��949B5339?>1<��?>D95>5�E>�1D5>E14?B�45����4��I�E>�69<DB?�@1C1�1<D?C�AE5@E545�DB121:1B�1�@1BD9B�45���� J�?�45� ��� J�<� C?>94?� AE5� ?2D95>5� 5<�,� ��� 5C� 3S<94?� I� 4569>94?� *5� EC1� 9>49CD9>D1=5>D5� @1B1� 5<� @91>?�� 3E5B41C�F95>D?C�?�C5339?>5C�45�=5D1<

����� ����� ���������� �������������������

#1�3?=@B5>C9W>�45� <1C�5C@539693139?>5C� DS3>931C�1IE41�1�5>D5>45B�3E1<5C�C?>� <1C�3E1<94145C�45�E>=93BW6?>?�� 45� E>� 1<D1F?J�� 45� E>1�=5C1� 45�=5J3<1C�� 45� E>� 1=@<969314?B�� I� 5>� 75>5B1<� 45� 3E1<AE95BE>9414�AE5�9>D57B5�E>1�3145>1�45�1=@<9693139W>�C?>?B1��CD1C�5C@539693139?>5C�>?C�9>4931>�<1�31<94143?>�<1�AE5�3141�E>9414�81�C94?�3?>CDBE941��I�21CR>4?>?C�5>�5<<1C�@?45=?C�45D5B=9>1B�C9�E>��1@1B1D?5C�1453E14?�@1B1�E>1C�6E>39?>5C�5>�3?>3B5D?�?�>?��I�D1=29S>�C9�5<�@B539?�45�3?CD5�5C�5<�1453E14?�1D5>495>4?�1�CE�31<9414�B51<'?B�45C7B1391��5CD1C�5C@539693139?>5C�>?�C?>�C95=@B5�D?4?�<?�3<1B1C�AE5�45295B1>�C5B��I�5>�<E71B�456139<9D1B� <1� 3?=@B5>C9W>� � 45� <1C� 31B13D5BTCD931C� 45�E>�1@1B1D?�� 1�=5>E4?� <?� 49693E<D1>�'?B� ?DB?� <14?F1B9?C�612B931>D5C�5>61D9J1>�<?C�@E>D?C�6E5BD5C�45�CEC�@B?4E3D?C �@BR3D931�3?=X>�I�45<�D?4?�<T39D1��@5B?@1C1>�@?B�1<D?�?�295>�>?�B5=1B31>�<1C�31B13D5BTCD931C�>571D9F1C�45�<?C�=9C=?C'?B� D?4?C� 5CD?C� =?D9F?C�� 5<� =XC93?� I� 5<� DS3>93?� 4525>� D5>5B� <?C� 3?>?39=95>D?C� AE5� <5C� @5B=9D1>49C35B>9B��=5491>D5�<1�<53DEB1�45�<1C�3E1<94145C�DS3>931C�45�E>�1@1B1D?��C9�SCD5�5C�1453E14?�@1B1�CEC>535C94145C� 3?>3B5D1C� �>� 1<7E>?C� 31C?C� 5CD?� >?� 5C� >141� 6R39<�� I1� AE5� @1B535� 3?=?� C9� 1<7E>?C612B931>D5C� C5� 5C6E5B35> @1B1� AE5� <1� 45C3B9@39W>� DS3>931� 45� E>1� E>9414� C5� 1C5=5:5� =RC� 1� E>:5B?7<T693?�#1�ED9<9J139W>�75>5B1<9J141�45<�453925<9?�3?=?�E>9414�45�=5CEB1�@E545�?31C9?>1B��5>�1<7X>31C?��395BD1�3?>6EC9W>�C9�>?�C5�5C@5396931�3ER<�5C�<1�E>9414�45�B565B5>391�<7E>1C� 5C@539693139?>5C� C?>� @B?@91C� 45� E>� DB1>C4E3D?B� ?� 45� E>1� E>9414� 5>� 3?>3B5D?�� 3?=?� <1C5>C929<9414�1@<93141�1� <?C�=93BW6?>?C�?� <1�31T41�5>�4�C�@B?@91�45�E>� 69<DB?��@5B?� <1�=1I?B�@1BD5�453E1<94145C�DS3>931C�@E545>�1@<931BC5�1�F1B9?C�5<5=5>D?C�45�E>1�3145>1�45 1=@<9693139W>��SCD1C�C?><1C�AE5�C5�45C3B925>�5>�5CD5�31@TDE<?

)�*',�*+���%��)��,�%�!��CD5� DSB=9>?�45C3B925� <1� 8129<9414�45�E>�5<5=5>D?�@1B1� B5@B?4E39B� 3?BB53D1=5>D5��5>�CE�C1<941�� <1CC5V1<5C�AE5�B53925�@?B�CE�5>DB141��>�<?C�=93BW6?>?C�C5�45C3B925�<1 B5<139W>�5>DB5�<1�@B5C9W>�13XCD931=54941�5>�5<�4916B17=1��I�<1�D5>C9W>�5<S3DB931�AE5�5>DB571�5<�=93B?�1<�312<5�1<�3E1<�5CDR�3?>53D14?��><?C� @B5�1=@<969314?B5C�� =5J3<14?B5C� I� 5D1@1C� 45� @?D5>391�� <1� B5C@E5CD1� 5>� 6B53E5>391C� 45C3B925� <1B5<139W>�5>DB5� <1�C5V1<�AE5�81I�1� <1��5>DB141�45�E>1�E>9414�I� <1�C5V1<�AE5�1@1B535�1� <1�C1<941�45�<1=9C=1

�>�5<�7BR693?�>K���@?45=?C�F5B�E>1�3EBF1�45�B5C@E5CD1�5>�6B53E5>391C��4?>45�C5�3?=@BE521�AE5�<1C6B53E5>391C� 3?=@B5>4941C� 5>DB5� <?C� ��� J� I� <?C� ��� ; J� C?>� <1C� AE5� 5CDR>� @B5C5>D5C� 45� 6?B=1@B9>39@1<� 5>� <1� C5V1<� #1C� 6B53E5>391C� @?B� 4521:?� 45� ��� J� I� @?B� 5>39=1� 45� ��� ; J� CE6B5>� E>11D5>E139W>�=EI� 6E5BD5��I�4525��3?>C945B1BC5�AE5�>?�C?>�B5@B?4E3941C�3?BB53D1=5>D5�5>�5CD1�C5V1<�5�E>1�6?B=1�>E=SB931��5CD1�B5C@E5CD1 5>�6B53E5>391C�C5�5C@5396931�45�<1�C97E95>D5�=1>5B1����� J�1���; J������4��C�@B539C?�@B5CD1B�1D5>39W>�1�<1�31<9693139W>����? ���4����AE5�>?C�41�5<�=1B75>�45�D?<5B1>391�45>DB?�45<3E1<� 5CDR� 3?>D5>941� <1� C5V1<�� C95>4?� CEC� <T=9D5C� 5>� 6B53E5>391C� <1C� I1� 5C@539693141C� �E1>D?� =RCB54E394?�5C�5CD5�=1B75>��=RC�<9>51<�5C�<1�B5C@E5CD1��1CT�E>�=1B75>�45�������4���C5BT1�@B565B92<5�1<B5@B5C5>D14?�5>�<1�697EB1����I1�AE5�3?BB5C@?>45BT1�1�E>1�7BR6931�=RC�<9>51<��=RC�@<1>1

#1�697EB1� ����=E5CDB1�E>1�3EBF1�DT@931 ?2D5>941�5>�E>�<12?B1D?B9?��5CD1�3EBF1�9>4931�<1�B5C@E5CD1�5>6B53E5>391C�45�E>�1=@<969314?B�%?�5CDR�45=1C914?�@<1>1��@5B?�C9�C5�?2C5BF1�<1�5C31<1�5>�453925<9?CC5�F5BR�AE5�5CDR�7B14E141�5>�9>D5BF1<?C�45�CW<?�����4�C��45�=1>5B1�AE5�<1�45CF9139W>�=RH9=1�CW<?1<31>J1��� ���4�C�I �����4�C��45>DB?�45�<1C�6B53E5>391C�3?=@B5>4941C�5>DB5�<?C���� J�I�<?C����; J�AE5�C?>�<1C�AE5�@E545�@5B3929B�5<�?T4?�8E=1>?

#1C�3EBF1C�31B13D5BTCD931C�AE5�CE5<5>�6139<9D1B�<?C�612B931>D5C�C5�1C5=5:1>�=RC�1�<1�AE5�1@1B535�5>�<1697EB1� �����5>�5<<1� <1�5C31<1�5>�453925<9?C�5CDR�7B14E141�5>� 9>D5BF1<?C�45���4�C��CD?�8135�AE5� <13EBF1�1@1B5J31�=EI�@<1>1��I1�AE5�C5�3?=@B9=5>�<?C�@5AE5V?C�F1<<5C�I�@93?C�AE5�C5�@E545>�F5B�5>�<1697EB1� ���%?�5C�3?>F5>95>D5�AE5�<1�B5C@E5CD1�5>�6B53E5>391C�45�E>�=93B?�?�45�E>�1=@<969314?B�C5�5HD95>41�=RC1<<R�45�<1C�6B53E5>391C�1E492<5C�#1�5HD5>C9W>�45�<1�B5C@E5CD1�5>�<1�J?>1�21:1��@?B�4521:?�45���� J�@E545�1E=5>D1B�<1�49CD?BC9W>�45�<1C�5D1@1C�45�@?D5>391��I�D1=29S>�31@D1B�395BD?C�BE94?C�>?�1E492<5C�I<<5F1B<?C�81391�<?C�1<D1F?35C��<�BE94?�45<�=?D?B�45�1BB1CDB5�45�E>1�39>D1�=17>SD931��?�<1C�F92B139?>5C?B979>141C� @?B� E>?C� @1C?C� 5>� 5<� 5C35>1B9?� @E545>� <<571B� 1� <?C� 1=@<969314?B5C� I� C?2B531B71B� <1C5D1@1C��?B979>1>4?�49CD?BC9W>��I1�AE5�1X>�AE5�>?�@E541>�C5B�B5@B?4E394?C�@?B� <?C�1<D1F?35C�1653D1><1C�3?>4939?>5C�45�6E>39?>1=95>D?�45�<?C�3?=@?>5>D5C�1=@<969314?B5C�#1�5HD5>C9W>�@?B�5<�<14?�45�<1C6B53E5>391C� 17E41C� �@?B� 5>39=1� 45� �� ; J�� @B?F?31� E>?C� @93?C� 45� <1C� 6B53E5>391C� 1<D1C�� AE5D1=@?3?�C?>�1E492<5C��@5B?�AE5�?31C9?>1>�49CD?BC9W>�45<� B5CD?�45� <1�C5V1<�1E49?�@?B�C1DEB139W>��>1=2?C� 31C?C� C5� 3?BB5BT1� D1=29S>� 5<� @5<97B?� 45� 41V1B� 1� <?C� 1<D1F?35C�� I1� AE5� B53929BT1>� E>1C6B53E5>391C�@1B1�<1C�AE5�>?�5CDR>�@B5@1B14?C��I�AE5�@?4BT1>�@B?F?31B�C?2B531B71C�=17>SD931C�5>�<12?29>1�>� 5<� 31C?� 3?>3B5D?� 45� <?C� 1=@<969314?B5C� 45� @?D5>391� �5D1@1C��� 3?>F95>5� 49CD9>7E9B� 3E1>4?� <1B5C@E5CD1� 5>� 6B53E5>391C� C5�=5CEB1� 3?>�E>1� C5V1<� 45�21:1� 9>D5>C9414��?� 3E1>4?�C5�=945�3?>�E>1C5V1<� � 45� 1<D1� 9>D5>C9414�� I1� AE5�5<� 3?=@?BD1=95>D?� 45� <1� 5D1@1�49695B5�>?D12<5=5>D5��>�5<�@B9=5B31C?�5CD1�B5C@E5CD1�@?4BT1�C5B�45����� J�1����; J��������4���3?>�E>�G1D9?�45�C1<941�C?2B5���?8=C��

1AET�5<�1=@<969314?B� DB121:1�3?>�E>�=1B75>�45�6B53E5>391C�=EI�1=@<9?��@5B?�CW<?�5>DB571���G1D9?�1<1<D1F?J��>�5<�C57E>4?�31C?�C5�=5CEB1� <1�21>41�45�6B53E5>391C�3E1>4?�<1�5D1@1�5CDR�1�CE�=RH9=?B5>49=95>D?��CT�@1B1�E>�1=@<969314?B�45� ���G1D9?C�5CD1�21>41�@?4BT1�C5B�� �� J�1� ��; J�� �4�� ��4���3?>� ���G1D9?C�45�C1<941�C?2B5���?8=C�'1B1�E>�=9C=?�1=@<969314?B��<1�21>41�45�6B53E5>391�XD9<5C�5C�=E38?�=5>?B�3E1>4?�5CDR�DB121:1>4?�1CE� =RH9=1� @?D5>391�� 5>� 3?=@1B139W>� 3?>� <1C� 6B53E5>391C� AE5� @E545� 5>DB571B� DB121:1>4?� 1� E>F?<E=5>�21:?

)�#��!Q%�*�O�#),!�&�5C3B925�<1�49CD1>391��=5CEB141�5>�453925<9?C��AE5�81I�5>DB5�<1�1=@<9DE4�=RH9=1�45�<1�C5V1<�1E49?�I�<11=@<9DE4�45<�BE94?�AE5�<1�13?=@1V1��C�9=@?BD1>D5�@?45B�3E1>D96931B�5<�BE94?�AE5�C5�9>DB?4E35�5>�<?C39B3E9D?C�45� <1� C5V1<�� I� <1C� 6B53E5>391C�3?>3B5D1C�4?>45�5C�=RC�5F945>D5��3?>� D1<�45� B54E39B<?�5>� <?@?C92<5��<�BE94?�AE5�@E541�75>5B1B�E>�=93BW6?>?�5C�21CD1>D5�B54E394?��@5B?�C5�1V145�1<�AE5�75>5B1><?C�@B?@9?C�39B3E9D?C�45�<1�=5C1��@B?35C14?B5C�45�5653D?C��53E1<9J14?B5C��5D3��81CD1�AE5�<1�C5V1<�5C5>F9141�81391�<1C�5D1@1C�45�1=@<9693139W>��AET�5<�BE94?�AE5�13?=@1V1�1�<1�C5V1<�5C�1=@<969314?�:E>D?3?>�SCD1��I�C5�CE=1�1<�BE94?�AE5�75>5B1>�<1C�=9C=1C�5D1@1C��CD5�BE94?�@E545�<<571B�1�5>=1C31B1B395BD?C� @1C1:5C� 45<� =5>C1:5� =EC931<�� I� @1B1� B54E39B<?� >?C� @?45=?C� F5B� ?2<9714?C� 1� B54E39B� <15HD5>C9W>�49>R=931�49C@?>92<5��ED9<9J1>4?�<?C�3?>DB?<5C�45�53E1<9J139W>��69<DB?C�?�@E5BD1C�45�BE94?#?C� >9F5<5C� 1<D?C� 45� BE94?� @E545>� 31EC1B� <1� 61D971� 45<� ?I5>D5�� I� � 5>DEB291B� <1� 3<1B9414� 45<�=5>C1:5=EC931<��@?B�?DB?�<14?�9>3B5=5>D1>�<1�49CD?BC9W>�45�<1�C5V1<��1V1495>4?�1B=W>93?C�AE5�>?�5H9CD5>�5>B51<9414#1C� 31EC1C� AE5� 45D5B=9>1>� <1� 1@1B939W>� 45� BE94?C� C?>�=X<D9@<5C� I� 45� D?4?� D9@?�� 45C45� <?C� @B?@9?C3?=@?>5>D5C� AE5� 3?>CD9DEI5>� 5<� C9CD5=1� 45� 1=@<9693139W>�� 81CD1� 5<� @B?@9?� JE=294?� 31EC14?� @?B� <13?BB95>D5� 1<D5B>1�� @1C1>4?� @?B� 3?>5H9?>5C� 4569395>D5C� I� 13?@<1=95>D?C�=17>SD93?C� 1� DB1FSC� 45� <?C381C9C�=5DR<93?C�*5�@?4BT1�5C3B929B�E>�<92B?�5>D5B?�5>�D?B>?�1�5CD5�D5=1%?�?2CD1>D5��I�3?=?�>?B=1�75>5B1<��5C�CE69395>D5�C125B�AE5�3E1>D?�=1I?B�5C�<1�B5<139W>�C5V1<BE94?45�E>1�E>9414�=5:?B�5C�<1�31<9414�45�SCD1��I1�AE5�3?>F95>5�AE5�<1�49CD1>391�5>DB5�<1�C5V1<�45�1E49?�I<?C� BE94?C� AE5� <1� 13?=@1V1>� C51� <?� =1I?B� @?C92<5� 129DE1<=5>D5� 5CD1� B5<139W>� C5� 5H@B5C1� 5>453925<9?C��3?>�E>�C97>?�>571D9F?�45<1>D5

�!*+&)*!Q%��)$Q%!���>D5C� 45� DB1D1B� 5CD5� D5=1� 3?>F95>5�AE5� C5� D5>71�E>1� 9451�3<1B1�45� <?�AE5�5C�E>�1B=W>93?�45�E>1C5V1<�6E>41=5>D1<��C9�>?�5C�1CT�5<�31@9DE<?�4?>45�C5�DB1D1�45�<1�6TC931�45<�C?>94?�@E545�C5B�?B95>D1D9F?1<�B5C@53D?#1�49CD?BC9W>�5C�E>�31=29?�>?�45C514?�AE5�5H@5B9=5>D1� <1� C5V1<�45�1E49?��H9CD5>�F1B9?C� D9@?C�4549CD?BC9W>�� 1D5>495>4?� 1� <1C� 31EC1C� AE5� <1� @B?F?31>�� <1� 49CD?BC9W>� 1B=W>931� 5C� E>1� 49CD?BC9W>� 451=@<9DE4�� 5CD?� AE95B5� 4539B� AE5� <1� 1=@<9DE4� 45� <1� C5V1<� 45� C1<941� 45:1� 45� C5B� @B?@?B39?>1<� 1� <1CF1B9139?>5C�45�1=@<9DE4�45�<1�C5V1<�45�5>DB141#1�49CD?BC9W>�1B=W>931� �3?<?B51��5<� C?>94?�45�E>1� 6?B=1�1BD969391<��E1>4?�1<7X>�3?=@?>5>D5�45�E>C9CD5=1� 45� C?>94?� 75>5B1� 5CD5� D9@?� 45� 49CD?BC9W>� 45� E>1� 6?B=1� >?D12<5�� 1<� <<571B� <1� C5V1<� 1� <?C1<D1F?35C� 41� <1� 9=@B5C9W>� 45� AE5� SCD?C� DB121:5>� C1DEB14?C�� C?2B531B714?C� �CD5� D9@?� 45� 49CD?BC9W>@E545�<<571B�1�C5B�@5<97B?C?�@1B1�<1�9>D57B9414�6TC931�45�E>�C9CD5=1�45�1<D1F?35C��3E1>4?�C5�DB121:1�1E>�=RH9=?�B5>49=95>D?�CD1�49CD?BC9W>�D95>5�<E71B�3E1>4?�<1�C5V1<�45�C1<941�45 1<7E>1�E>9414�3?>D95>5�6B53E5>391C�=X<D9@<?�45<1�6E>41=5>D1<��?�45�<1C�3?=@?>5>D5C�45�<1�C5V1<�45�5>DB141��AE5�>?�5CD121>�@B5C5>D5C�5>�<1�C5V1<45� ?B975>�� I� AE5� 81>� C94?� 3B5141C� @?B� 1<7X>� 3?=@?>5>D5� 13D9F?� 45� <1� E>9414� AE5� >?� 6E>39?>1<9>51<=5>D5'?B�5:5=@<?��E>1�C5V1<�@EB1�3?>�E>1�6B53E5>391�45���� J�C5�1@<931�1�<1�5>DB141�45<�39B3E9D?��I�5>�<1C1<941�45<�=9C=?�>?C�5>3?>DB1=?C��145=RC�45� <1�C5V1<�?B979>1<�45���� J��3?>�C5V1<5C�45����� J����� J�� ���� J��I� ��� J�'?45=?C�4539B�AE5�>?C�85=?C�5>3?>DB14?�3?>�<?C��1B=W>93?C� K���K���K�I�K� 45� <1� 6E>41=5>D1<� 45� ��� J�� >9>7E>?�45�5<<?C� 5CD121�@B5C5>D5� 5>� <1� C5V1<� 45� 5>DB141�� 5>� 5CD?3?>C9CD5�<1�49CD?BC9W>�1B=W>931��-5B�697EB1���

'1B1�45C3B929B�5CD1�49CD?BC9W>��C5�=945�5<�>9F5<�B5<1D9F?�45�<?C�1B=W>93?C�1@1B5394?C��3?=@1B14?C�3?>5<�>9F5<�45�<1�C5V1<�6E>41=5>D1<�CD5�D9@?�45�49CD?BC9W>�@E545�F5>9B�5C@539693141�@1B1�3141�1B=W>93?�5>�3?>3B5D?��?�295>�C5�B51<9J1�E>@B?=549?� 45� <1� 49CD?BC9W>� D?D1<� �>� 5CD5� C57E>4?� 31C?� �5<� =RC� 3?=X>�� C5� 45>?=9>1� 49CD?BC9W>1B=W>931�D?D1<��+ ��#1�=54941�45�<1�49CD?BC9W>�1B=W>931�C5�5H@B5C1�=5491>D5�E>�@?B35>D1:5�45�<1�=17>9DE4�45�<1�C5V1<�45C1<941��3E1>D?�=5>?B�C51�5CD5�@?B35>D1:5�=5:?B�C5BR�<1�31<9414�45<�1@1B1D?�AE5�C5�3?=@BE521

�!*+&)*!Q%�'&)�!%+�)$&�,#��!&%#1�49CD?BC9W>�@?B�9>D5B=?4E<139W>�D95>5�<E71B�3E1>4?�1�<1�5>DB141�45�3E1<AE95B�E>9414�C5�1@<931>�4?C6B53E5>391C� 49CD9>D1C� C9=E<DR>51=5>D5�� I� 1� <1� C1<941� 1@1B535> �145=RC� 45� 5CD1C� 4?C� 6B53E5>391C�?DB1C�AE5�>?�5CDR>�B5<139?>141C�1B=W>931=5>D5�3?>�5<<1C���@5C1B�45�AE5�5CD1�49CD?BC9W>�CE3545�5><1C� =9C=1C� 39B3E>CD1>391C� AE5� <1� 49CD?BC9W>� 1B=W>931�� CEC� 5653D?C� C?>� 49CD9>D?C� �>� 5653D?�� <149CD?BC9W>�1B=W>931�@B?4E35�C5V1<5C�3EI1C�6B53E5>391C�C?>�C95=@B5�=X<D9@<?C�45� <1�6B53E5>391�45�<1C5V1<�45�5>DB141��1B=W>93?C�AE5�C5�E>5>�1�<1�C5V1<�?B979>1<�=?496931>4?�CE�6?B=1�@B9=9D9F1'5B?�<1�49CD?BC9W>�@?B�9>D5B=?4E<139W>�@B?F?31�E>1�=5J3<1�5>�<1�AE5�1@1B535>�C5V1<5C�@1BRC9D1C�3?>6B53E5>391C� 97E1<5C� 1� <1� CE=1� I� 4965B5>391� 45� <1C� 6E>41=5>D1<5C�� 1� <1� CE=1� I� 4965B5>391� 45� E>16E>41=5>D1<�I�45�<?C�1B=W>93?C�@B5C5>D5C��?�1�<1�CE=1�I�4965B5>391�5>DB5�4?C�C5V1<5C�3E1<5CAE95B1�>?B5<139?>141C�5>DB5�CT*9� 4?C� 6B53E5>391C� 6E>41=5>D1<5C�� @?B� 5:5=@<?� 45� ���� I� ���� J�� C5� 1@<931>� 1� <1� 5>DB141� 45� E>1=@<969314?B��5H9CD9BR�49CD?BC9W>�1B=W>931�C9�1�<1�C1<941�1@1B535>�6B53E5>391C�45������� ��������� J@?B�E>1�@1BD5��I�45������������� ���� J�@?B�<1�?DB1�'5B?�C9�145=RC�5<�1@1B1D?�75>5B1�49CD?BC9W>�@?B9>D5B=?4E<139W>��5>�<1�C5V1<�45�C1<941�1@1B535BR>�6B53E5>391C�45����� J��������������45����� J������������45������ J���������������I�?DB1C�6B53E5>391C�AE5�>?�C5BR>�=X<D9@<?C�>9�45�����>9�45����� J#?C� 1=@<969314?B5C� B5@B5C5>D1>� <1� 6E5>D5� =RC� 9=@?BD1>D5� 45� 49CD?BC9W>� @?B� 9>D5B=?4E<139W>� 5>� E>C9CD5=1�45�C?>94?��I�C?>�<?C�5<5=5>D?C�5>�<?C�AE5�5CD1�49CD?BC9W>�4525�5CD1B�C95=@B5�5C@539693141#1�9>D5B=?4E<139W>�5C�<1�6?B=1�45�49CD?BC9W>�=RC�45C17B1412<5�AE5�@E545�1653D1B�1�E>�1=@<969314?B�I1�AE5�?B979>1�49C?>1>391C�AE5�C?>�9>3?=@1D92<5C�3?>�E>1�B5@B?4E339W>�=EC931<#1� 9>D5B=?4E<139W>� C5� =5CEB1� =5491>D5� E>� @?B35>D1:5�� AE5� 3?=@B5>45� <1� CE=1� 45� D?41C� <1C6B53E5>391C�75>5B141C��?=?�5CD1�49CD?BC9W>�5CDR�5>�6E>39W>�45�<1�6B53E5>391�I�45�<1�1=@<9DE4�45�<1CC5V1<5C�45�5>DB141��@1B1�3141�@?B35>D1:5�414?�5C�>535C1B9?�5C@5396931B�5<�>9F5<�45�<1�C5V1<�45�5>DB141AE5�C9BF5�45�B565B5>391��I�D1=29S>�<1C�6B53E5>391C�AE5�C5�81>�ED9<9J14?

!$'���%�!�*�����%+)����0�*�#!��#1� 9=@541>391�@E545�4569>9BC5�3?=?� <1�?@?C939W>�AE5�@B5C5>D1�E>�39B3E9D?�1<�@1C?�45�E>1�3?BB95>D51<D5B>1�� I� C5�=5CEB1� 5>�?8=9?C��,>1� D5>C9W>�45���F?<D9?�1@<93141�1� DB1FSC�45�E>1� B5C9CD5>391�45��?8=9?�@B?4E35�E>1�3?BB95>D5�45���1=@5B9?�#1� 9=@541>391�45�E>�39B3E9D?�@?B�4?>45�39B3E<1� <1�C5V1<

1E49?�>?�5C�69:1��I1�AE5�CE�F1<?B�5C�31=291>D5��3?=?�D1=29S>�<?�5C�5<�F?<D1:5�AE5�3?>CD9DEI5�<1�=9C=1C5V1<�45�1E49?+?4?C�<?C�5<5=5>D?C�45�E>1�3145>1�45�1=@<9693139W>�D95>5>�E>?C�>9F5<5C�45D5B=9>14?C�45�9=@541>391@1B1�CEC�B5C@53D9F?C�3?>5H9?>14?C�45�5>DB141�I�45�C1<941��5CD?C�F1<?B5C�4525>�3?9>3949B�5>DB5�CT��I1AE5�45�<?�3?>DB1B9?�5<�B5>49=95>D?�7<?21<�45<�C9CD5=1�49C=9>EI5�>?D12<5=5>D5#1� 9=@541>391�45�E>1�5>DB141�C5�3?>?35� D1=29S>�3?=?� 9=@541>391�45�31B71�� ��� ������������I1AE5�5<� F1<?B�45�SCD1�45D5B=9>1� <1� 31B71�5<S3DB931�AE5�812BR�1� <1�C1<941�45<�39B3E9D?�'?B�?DB?� <14?� <19=@541>391�45�C1<941�C5�45>?=9>1�D1=29S>�9=@541>391�45�6E5>D5��� �����������������3DE1<=5>D5�C5�3?>C945B1�@?C9D9F?��@1B1�=1>D5>5B�E>�1<D?�>9F5<�45� <1�C5V1<�1E49?��AE5�5<�F1<?B�45� <19=@541>391�45�C1<941�C51�<?�=RC�21:?�@?C92<5��=95>DB1C�AE5�5<�F1<?B�45�<1�9=@541>391�45�5>DB141�4525C5B�5<�=RH9=?�@?C92<5��C95=@B5�45>DB?�45�<?C�<T=9D5C�AE5�3141�E>9414�@5B=9D1

�>�<1�697EB1���C5�@E545�F5B�3?=?�5<�F1<?B�45�<1�9=@541>391�45�5>DB141�45�E>1�E>9414��AE5�@E545�C5BE>�=5J3<14?B��E>�@B?35C14?B�?�E>�1=@<969314?B��45D5B=9>1�<1�9=@541>391 45�C1<941�45�<1�=9C=1#1� 5C@539693139W>� 45� <?C� F1<?B5C� 45� 9=@541>391� AE5� 41>� <?C� 612B931>D5C� @E545�@1B535B� 3?>6EC1�5>1<7E>?C�31C?C��I1�AE5�C5�41�=RC�45�E>�F1<?B�@1B1�E>1�=9C=1�5>DB141�?�C1<941�45<�1@1B1D?��>�?DB1C?31C9?>5C�5<�F1<?B�5C@53969314?�5C�X>93?��@5B?�>?�3?BB5C@?>45�3?>�5<�F1<?B�45�<1�E>9414�1�<1�AE5�5CDR3?>53D14?�-51=?C�E>?C�5:5=@<?C��L�ER<�5C�<1�9=@541>391�45�6E5>D5�AE5�C5�@E545�3?>53D1B�5>�E>1C1<941� 3EI1� 9=@541>391� 5C@53T6931� 5C� 45� ���� ?8=9?C�� #1� 4965B5>391� 5>DB5� 9=@541>391� 45� C1<941� 59=@541>391�45� 6E5>D5�3?>C9CD5�5>�AE5�<1�@B9=5B1�>?C�41�5<�F1<?B�=RH9=?�AE5�4525�D5>5B�5<�1@1B1D?AE5�C5�3?>53D5�1�5CD1�C1<941��=95>DB1C�AE5� <1� 9=@541>391�45� 6E5>D5�5C�5<� F1<?B�=T>9=?�AE5�@E54514=9D9B��CT��E>1�5C@539693139W>�=RC�3?>3B5D1�C5BT1�!=@541>391�45�6E5>D5������?8=9?C� !=@541>391�=T>9=1�45�31B71������?8=9?��>�5CD5�C57E>4?�31C?D5>4B5=?C�@?B�E>� <14?�5<�F1<?B�AE5�4525�D5>5B� <1�E>9414�AE5�C5�3?>53D5�1�<1�5>DB141������?8=C���I@?B� 5<� ?DB?� 5<� F1<?B� 45� C1<941� =T>9=?� AE5� 41BR� <1� E>9414� ����� ?8=C�� -51=?C E>� X<D9=?� 31C?�3?BB5C@?>495>D5�1�<?C�F1<?B5C�5C@53T693?C�45�E>1�=5C1�45�=5J3<1C��!=@541>391�45�5>DB141����"?8=C!=@541>391�45�6E5>D5��=5>?C�45�����?8=9?C�#?C�=93B?C�AE5�C5�3?>53D5>�1�5CD1�=5C1�4525>�D5>5BE>1�9=@541>391�@?B�4521:?�45�<?C�����?8=9?C��1�@5C1B�45�AE5�<1�9=@541>391�45�<1�5>DB141�5C�45�����?8=9?C��CD?�C5�4525�1�AE5��3?=?�C5�81�=5>39?>14?��5<�F1<?B�45�<1�9=@541>391�5C�31=291>D5��I�E>=93B?� 3?>� E>1� 9=@541>391� 45� C1<941� 45� ���� ?8=9?C� @E545� D5>5B� F1<?B5C� 45� 9=@541>391� =EI� @?B5>39=1�45�5CD1�396B1��@5B?�AE5�>?�CE@5B1�<?C���"?8=C�5>�>9>7X>�31C?)5CE=95>4?�� <1� 9=@541>391�45<�5<5=5>D?�3?>53D14?�4525�5CD1B�C95=@B5�@?B�4521:?�45<�5<5=5>D?�1<3E1<�C5�3?>53D1��@5B?�45>DB?�45�E>?C�<T=9D5C��>�<1�697EB1���5CDR�5CAE5=1D9J14?�5CD5�@B9>39@9?+5>5=?C� AE5� <1� 9=@541>391� >?� 5C� E>� @1BR=5DB?� AE5� D5>71� E>� F1<?B� 3?>CD1>D5�� I1� AE5� @?B� CE>1DEB1<5J1�F1BT1�3?>�<1�6B53E5>391��E1>4?�C5�135@D1�E>1�396B1�45�9=@541>391�3?>3B5D1��97>?B1=?C�<16B53E5>391�5>�<1�AE5�C5�81�D?=14?�5CD1�396B1

�?>3B5D1=5>D5� <?C�1<D1F?35C�CE6B5>�E>?C�31=29?C�5>�CE� 9=@541>391�=EI�>?D12<5C�C57X>�CE�@B?@916B53E5>391� 45� B5C?>1>391� �CT� <1� 4965B5>391� 5>DB5� CE� 9=@541>391� =T>9=1� �AE5� 3?9>3945� 3?>� <19=@541>391�>?=9>1<��I�CEC�@93?C�45�9=@541>391�5C�45<�?B45>�45������E>�1<D1F?J�3?>�E>1�9=@541>391>?=9>1<� 45� �� ?8=C� @E545� <<571B�� 5>� 1<7E>1C� 6B53E5>391C�� 1� ?6B535B� F1<?B5C� 45� � � ?8=C� '?B� 5CD5=?D9F?��1<7E>1C�5C@539693139?>5C�F95>5>�45�<1�C97E95>D5�=1>5B1�!=@541>391� 45�5>DB141�� ���"8?=C�=T>9=?� �@?B� 4521:?� 45��� ; J�� I� ���"8?=C�=T>9=?� �45���1� �; J�

%!-�#�*�&'�)�+!-&*����#��*�O�#�����,�!& 1I�F1B91C�6?B=1C�45�5H@B5C1B�<?C�>9F5<5C�45�5>DB141�I�C1<941�45�E>�C9CD5=1�45�1=@<9693139W>��>D5C45�5CD12<535B�E>1�3<1C9693139W>�45�5CD?C�>9F5<5C�3?>F95>5�D5>5B�3<1B?�5<�3?>35@D?�45<�453925<9?��AE5�C545C1BB?<<1�5>�5<�31@TDE<?�45�6TC931�45<�C?>94?�E1>4?�C5�812<1�45�E>�>9F5<��C9>�3?>3B5D1B�<1�E>9414�5C@53T6931��<?�=RC�3?BB95>D5�5C�AE5�C5�DB1D5�45<F?<D1:5�?�45�<1�@B5C9W>�C?>?B1��@5B?�5>�?31C9?>5C�@E545�DB1D1BC5�45�E>1�@?D5>391� 1I�AE5�9>D5>D1B�C5B3?>39C?�5>�3E1<AE95B�5C@539693139W>��I1�AE5�5<�DSB=9>?��>9F5<��@?B�C9�=9C=?�>?�45C3B925�>9>7X>�F1<?B�5>3?>3B5D?�H9CD5>�F1B9?C�>9F5<5C�?@5B1D9F?C�45�<1�C5V1<�1E49?�5>DB5�<?C�5<5=5>D?C�AE5�3?>6?B=1>�E>�C9CD5=1�45C?>94?�'1B1�C9=@<96931B�<1�3?>5H9W>�45�D?4?C�<?C�5<5=5>D?C C5�5CD12<535>�DB5C�>9F5<5C�4965B5>3914?C�

��1:?�>9F5<�? �����������������!���,>1�C5V1<�45�5CD5�>9F5<�>?�5H3545�<?C � ��4�=������=-�C?2B5����?8=C���?� <?C � ��4�E������=-��#1C�C5V1<5C�45�5CD5�>9F5<�C?>� <1C�AE5�5>DB571>� <1C�C1<941C�45� <?C=93BW6?>?C��<1C�@1CD9<<1C�45�<?C�21:?C�I�<1C�7E9D1BB1C�5<S3DB931C��I�<?C�3125J1<5C�=17>SD93?C��1>D5C�453E1<AE95B� 1=@<9693139W>���E>AE5�1<7X>�=93B?� @E545� C?2B5@1C1B� 5CD5� >9F5<� 5>� @B5C5>391�45�C?>94?C=EI� 6E5BD5C�� I� 1<7E>1� @1CD9<<1� 5>DB571B� C5V1<5C� AE5� 5CDS>� ��� W� �� 4�C� @?B� 5>39=1�� 5CD?C� F1<?B5CC9BF5>�3?=?�B565B5>391�@B?=549?�45�<?C�>9F5<5C�21:?C�45�C5V1<

��%9F5<�=549?�?�����������!�����*E�F1<?B�C5�5HD95>45�5>DB5�<?C � ��4�E�? � ��4�=�81CD1�<?C�����4�E� ����-��?�����4�=�� ����-�C?2B5�����?8=C��>DB5�5CD?C�>9F5<5C�C5�5>3E5>DB1>�<1C�C1<941C�45�D53<14?C�5<53DBW>93?C��=93B?C�9>1<R=2B93?C��C1<941C�45<?C�@B51=@<969314?B5C�I�=5C1C�45�=5J3<1��I�<1�=1I?BT1�45�5>DB141C�I��C1<941C�45�<?C�@B?35C14?B5C�45C5V1<��3?=@B5C?B5C��B5D1B4?C��53E1<9J14?B5C��B5F5B2C��5D3�

� �<D?� >9F5<� ? ������ ��� ������ 'E545>� 3?>C945B1BC5� 3?=?� C5V1<5C� 45�1<D?� >9F5<� D?41C�1AE5<<1C� AE55H3541>�<?C�����4�E��� ����-��?�<?C����4�=�� ����-�C?2B5�����?8=C��#1C�C5V1<5C�45�31B71�C?><1C�AE5�5>DB571>�<?C�1=@<969314?B5C�45�@?D5>391�1�CE�C1<941��I�C9BF5>�5H3<EC9F1=5>D5�@1B1�5H39D1B<?C�1<D1F?35C�1�<?C�AE5�5CDR>�E>94?C

�<� F?<D1:5� 5HDB5=141=5>D5� 21:?� AE5� DB1>C@?BD1>� <1C� C5V1<5C� 45� 21:?� >9F5<� 8135� B53?=5>412<5� >?ED9<9J1B�312<5C�45=1C914?�<1B7?C�@1B1�CE�DB1>C@?BD5��I1�AE5�>?C�5H@?>5=?C�1�@?C92<5C�9>D5B65B5>391C I1�@SB4941C�45�6B53E5>391C�5>�<1�C5V1<�'?B�5CD5�=?D9F?�1<7E>?C�C9CD5=1C�C5�C9BF5>�45�1=@<969314?B5C45�F?<D1:5� �D1=29S>�45>?=9>14?C�1=@<969314?B5C�45� <T>51��AE5�1E=5>D1>�5<�>9F5<�45� <1�C5V1<��>� <1697EB1���C5�@E545>�F5B�<1C�3?BB5C@?>45>391C�5>DB5�49CD9>D?C�>9F5<5C�4�=�I�CE�F1<?B�5>�G1D9?C

#1�@?D5>391�AE5�5>DB571>� <?C�1=@<969314?B5C�AE5� 6?B=1>�@1BD5�45�E>�C9CD5=1�45�C?>94?�@B?65C9?>1<?C39<1�5>DB5�<?C����.�I�<?C������.��<�G1D9?�5C�<1�E>9414�AE5�C5�EC1��@?B�<?�75>5B1<��@1B1�5H@B5C1B�<1@?D5>391�AE5�5>DB571�E>1�5D1@1��@5B?�5>�?31C9?>5C�D1=29S>�C5�ED9<9J1�5<�4�.��C95>4?�CE�B565B5>391���

4�.� �� �� G1D9?� � �>� <1� D12<1� >K� �� C5� @E545>3?>CE<D1B�<1C�5AE9F1<5>391C�5>DB5�1=21C�E>94145C�<� 453925<9?� >?C� C9BF5�� ?DB1� F5J�� @1B1� C9=@<96931B3E1<AE95B� 5C@539693139W>�� I1� AE5� 5C� =E38?� =RCC5>39<<?�5C3B929B��� ��4�=���AE5��� ���G1D9?C��W����4�.� AE5� ���� G1D9?C� 1I� AE5� B5=1B31B� AE5� 5C2RC93?� 3?>?35B� 5<� >9F5<� 45� B565B5>391� 3E1>4?� C5DB1D1� 3?>� 453925<9?C�� I1� AE5� >?� 5C� <?� =9C=?� E>1C1<941� AE5� 5>DB571� � �� 4�=� �3?BB5C@?>45 1� �� �.��1�?DB1�AE5�5>DB571�� ��4�.��AE5�3?BB5C@?>451� ��� G1D9?C�� �CD1� 4965B5>391� @B?F95>5� 45� AE5� 5<F1<?B�45�B565B5>391�45<�4�=�5C���=9<9F1D9?��=95>DB1CAE5�5<�45<�4�.�5C���G1D9?

!%+�)��)�%�!��'&)��),�����)&**+�#"�'5AE5V1C� @?B39?>5C� 45� <1� C5V1<� 1E49?� @E545>DB1C@1C1B� 45� E>� 39B3E9D?� 1� ?DB?�� 1X>� C9>� 5CD1B9>D5B3?>53D14?C� �CD1C� �6E71C�� 45� C5V1<� @E545>13?>D535B� D1>D?� 5>DB5� <?C�31>1<5C�45�E>1�=5C1�45=5J3<1C� 3?=?� 5>� E>� @B?35C14?B�� I� C5� @B?4E35>45294?�1<�13?@<1=95>D?� 9>4E3D9F?�?�31@139D9F?�5>DB539B3E9D?C�?�312<5C�AE5�DB1>C3EBB5>�45=1C914?�35B31E>?C�45�?DB?C�#?C�6<E:?C�=17>SD93?C�AE5�@B?F?31�<1C5V1<� 45� 1E49?� AE5� 39B3E<1� @?B� E>� 3?>4E3D?B45D5B=9>14?�@E545>�1<D5B1B�5<�31=@?�=17>SD93?�45?DB?�3?>4E3D?B� �AE5�@1C5�35B31��3B51>4?�E>�F?<D1:59>4E394?� 5>� 1AE5<� �CD5� F?<D1:5� 5C� 5<� �3B?CCD1<;��� ?4916?>T1�5>DB5�31>1<5C�>� <1C� <T>51C� 5CD5B5?6W>931C� 5< �� ����� B54E35� <1C5@1B139W>� AE5� 81I� 5>DB5� <?C� 4?C� 31>1<5C� �>� <1C

=5C1C�45�=5J3<1� <1C�C5V1<5C�AE5�39B3E<1>�@?B�E>�31>1<�@E545>�1653D1B�1� <1C�AE5�39B3E<1>�@?B�?DB?�31EC1>4?� E>1C� 9>D5B65B5>391C� 3EI1� 9>D5>C9414� @E545� C5B� =54941C� �CD1C� 9>D5B65B5>391C� @E545>1653D1B��9>3<EC?��1�31>1<5C�3?>=ED14?C�5>��?66��@1B1�AE5�>?�1V141>�BE94?�1�<1�C5V1<��=1CD5B���3E1>4?CE3545� 5CD?� <?C� 31>1<5C� 1653D14?C� @?B� <1� 9>D5B65B5>391� <1 5>FT1>� �FT1� CE27BE@?�� 81391� <1C� C1<941C=1CD5B��5>DEB291>4?�<1�C5V1<�AE5�B5CE<D1�E1>4?�5CD5�D9@?�45�9>D5B65B5>391�CE3545�5>�3R@CE<1C�6?>?7BR6931C�<?C�612B931>D5C�=5CEB1>�5<�5653D??@E5CD?�1< �� ������#1�C5@1B139W>�5>DB5�31>1<5C�#1C�3R@CE<1C�45�<?C�79B149C3?C�4525>�C5@1B1B�<?C3?=@?>5>D5C�45�<1�C5V1<�81391�5<�31>1<�AE5�3?BB5C@?>41��9JAE95B4?�?�45B538?��3E1>D?�=1I?B�C51�5CD1C5@1B139W> �AE5�C5�=945�5>�4�C��=5:?B�13DE1BR�E>1�3R@CE<1#1�=54941�45� <1� 9>D5B65B5>391�@?B�3BE35�5>DB5�49CD9>D?C�31>1<5C�C5�5653DX1��75>5B1<=5>D5��1@<931>4?E>1� C5V1<� 45� @BE521� C?2B5� E>� 31>1<�� =95>DB1C� 5<� ?DB?� >?� B53925� C5V1<� 1<7E>1� #E57?� C?<?� AE541=5CEB1B�<1�C1<941�45<�31>1<�AE5�>?�B53925�C5V1<�45�5>DB141��I�1CT�3?>?35B�5<�>9F5<�45�<1�9>D5B65B5>391*E�F1<?B�C5�=945�5>�453925<9?C�@?B�4521:?�45<�>9F5<�45�C1<941�>?=9>1<�45<�31>1<��1CT�C9�5CD5�>9F5<�5C�45��4�E��I�5<�>9F5<�45�<1�9>D5B65B5>391�1�<1�C1<941�5C�45 ����4�E��<1�4916?>T1�5>DB5�<?C�4?C�31>1<5C�C5BR�45�����4�'?B�45C7B1391�5CD?�>?�CE5<5�C5B�D1>�C9=@<5��I1�AE5�5<�>9F5<�45< 3B?CCD1<;�F1BT1�C57X>�<1C�6B53E5>391C�>�5653D?��C9�5CD1�9>D5B65B5>391�C5�@B?4E35�1�31EC1�45�13?@<1=95>D?C�9>4E3D9F?C��C5BR�=RC�>?D12<5�3?><1�@B5C5>391�45�21:1C�6B53E5>391C��C9� <1�31EC1�5C�@?B�E>�13?@<1=95>D?�31@139D9F?��1653D1BR�=RC�1�<1C1<D1C� 6B53E5>391C� '?B� 5<<?� 5C� 9=@?BD1>D5� 3?>?35B�� C9� 5C� @?C92<5�� <1C� 6B53E5>391C� 3?>� <1C� AE5� C5� 81=5CEB14?�5CD1�9>D5B65B5>391�,>1�9>6?B=139W>�=RC�@B539C1�C5BT1�SCD1��B?CCD1<;���>�31>1<5C�14I135>D5C�$5:?B�AE5 ����4��@?B�4521:?�45���; J� ����4��1����; J

),!�&��#�%�&�0�),!�&�)&*���<� BE94?�2<1>3?�5C�45� D9@?�1<51D?B9?��121B31�E>�=1B75>�45� 6B53E5>391C�5>DB5� �� J�I� ��; J��I�C5C9BF5�45�<?C�1B=W>93?C�1�@1BD9B�45� �� J��1E=5>D1>4?���4��@?B�?3D1F1��5C�4539B�AE5�@?B�3141�?3D1F145�9>3B5=5>D?�D?>1<�C5�1E=5>D1�<1�9>D5>C9414�5>���4��<�BE94?�2<1>3?�5C�E>�BE94?�45�?B975>�DSB=93?�?�5<S3DB93?��AE5�3?>D95>5�<1�=9C=1�5>5B7T1�@?B�85B39?�*5ED9<9J1� @1B1� 31<92B1B� 5AE9@?C� 5<53DBW>93?C�� I1� AE5� 5>FT1� 813T1� <?C� 39B3E9D?C� D?41C� <1C� 6B53E5>391C� 456?B=1�C9=E<DR>51��I�@5B=9D5�31<92B1B�CE�B5C@E5CD1��>�<1�697EB1���C5�@E545�F5B�<1�6?B=1�AE5�D?=1�5CD5BE94?��3EI1�9=@B5C9W>�C?>?B1�5AE9F1<5�1�E>�D?>?�=EI�17E4?�3?>�E>1�7B1>�45>C9414

�<� BE94?� B?C1�@B?4E35�E>�5C@53DB?�45� 6B53E5>391C�3?=@B5>494?�5>DB5� <?C� �� J� I� <?C� ��; J�� 3?>97E1<�9>D5>C9414�@1B1�3141�E>1�45�<1C�6B53E5>391C��?B979>R>4?C5�D?41C�1�<1�F5J�<�BE94?�B?C1��697EB1����C5�ED9<9J1�@1B1�31<92B1B�<1�B5C@E5CD1�5>�6B53E5>391C�45�E>�C9CD5=1�C?>?B?�'1B15<<?�5C�@B539C?�3?>D1B�3?>�E>�1>1<9J14?B�45�5C@53DB?�5>�D95=@?�B51<��697EB1������3?>�E>�75>5B14?B�45BE94?�B?C1��I�3?>�E>�53E1<9J14?B�7BR693?�45����45�?3D1F1��>�5<�31@TDE<?�45�*9CD5=1C�45�1=@<9693139W>5>�9>D5B9?B5C�C5�45D1<<1�<1�6?B=1�45�5653DE1B�5CD5�31<92B14?�13XCD93?

,>�@B?7B1=1�=EC931<�>?B=1<�3?>D95>5�=E381�=RC�5>5B7T1�5>�<1C�21:1C�6B53E5>391C�AE5�5>�<1C�1<D1C#1�=1I?B�@1BD5�45�5>5B7T1�5H9CD5>D5�5>� <1C�6B53E5>391C�=RC�5<5F141C�@B?F95>5�45�<?C�1B=W>93?C�45>?D1C�=EC931<5C� 45� 6B53E5>391C�=RC�21:1C�� I� 3?=?� C125=?C�5<� >9F5<� 45� <?C� 1B=W>93?C�C95=@B5�5C=RC� B54E394?� AE5� 5<� 45� <1� >?D1� 6E>41=5>D1<� '?B� 5CD?� 5<� BE94?� B?C1� 5C�=RC� ED9<9J14?� AE5� 5<� BE94?2<1>3?�3E1>4?�C5�DB1D1�45�5653DE1B�@BE521C�AE5�C9=E<1>�<1�B5C@E5CD1�1�E>�@B?7B1=1�=EC931<�>?B=1<

*M$�&#&*�����&$'&%�%+�*'1B1� C131B� E>� @1BD94?� =RH9=?� 45<� =1D5B91<� 3?>� AE5� C5� DB121:5�� 5C� 9>D5B5C1>D5� 3?=@B5>45B� 3?=?6E>39?>1� 9>D5B9?B=5>D5� 3141� E>9414�� I� 3?=?� 5CDR� B5<139?>141� 3?>� ?DB1C� E>94145C� 1� <1C� AE5� 5CDR3?>53D141,>1�85BB1=95>D1�=EI�XD9<�@1B1�5>D5>45B��1X>�45�E>1�6?B=1�CE39>D1��3?=?�?@5B1�3E1<AE95B�E>9414�45E>1�3145>1�45�1=@<9693139W>��5C�@?45B�45C396B1B�I�5>D5>45B�CE�4917B1=1�45�2<?AE5C��CD?C�4917B1=1C45C3B925>�5<�31=9>?�AE5�C97E5�<1�C5V1<�45�1E49?�1�DB1FSC�45�<?C�39B3E9D?C�AE5�3?>D95>5�<1�E>9414��>5<<?C�C5�5=@<51>�E>?C�CT=2?<?C�=EI�C5>39<<?C��AE5�B5@B5C5>D1>�<1C�6E>39?>5C�AE5�D95>5>�<E71B�5>�<1E>9414��3E1>4?�E>1�=9C=1�E>9414�B51<935�F1B91C�6E>39?>5C��CE�4917B1=1�C5�49F945�5>�<?C�2<?AE5C�AE5C51>�>535C1B9?C��3?>�D1<�45�6139<9D1B�CE�3?=@B5>C9W>%?�81I�AE5�3?>6E>49B�E>�4917B1=1�45�2<?AE5C�3?>�E>�5CAE5=1��>�E>�5CAE5=1�5<�612B931>D5�45D1<<13141� E>?� 45� <?C� 3?=@?>5>D5C� AE5� 6?B=1>� @1BD5� 45� <?C� 39B3E9D?C� 45� E>1� E>9414�� 3?>� CEC� F1<?B5C3?BB5C@?>495>D5C��5>�B51<9414�<?C�5CAE5=1C�5CDR>�@5>C14?C�@1B1�<1C�B5F9C9?>5C�?�<1C�B5@1B139?>5C�45E>�1@1B1D?�414?��=RC�AE5�@1B1�6139<9D1B�CE�3?=@B5>C9W>�1<�ECE1B9?�'1B1�5CD5�X<D9=?�69>�<?C�4917B1=1C45�2<?AE5C�C?>�<?C�=RC�1453E14?C��I1�AE5�=E5CDB1>�<1�?B71>9J139W>�2RC931�45<�1@1B1D?�I�@5B=9D5>�E>C57E9=95>D?�6R39<�45<�6<E:?�45�<1�C5V1<�45�1E49?��>�<1�697EB1����C5�=E5CDB1>�<?C�CT=2?<?C�=1C�ECE1<5CAE5�B5@B5C5>D1>�1=@<969314?B5C��DB1>C6?B=14?B5C�I�D?=1C�45�D95BB1��I�5>�<1C�697EB1C�� �I����5CDR>�<?CCT=2?<?C�ED9<9J14?C�@1B1� <?C�3?>53D?B5C�� 69<DB?C�I�53E1<9J14?B5C�� 9>49314?B5C�45�>9F5<��I�3?=@?>5>D5C49F5BC?C

�!��)�$�*�����#&(,�*�>�<?C 4917B1=1C�5<�6<E:?�45�<1�C5V1<�1E49?�C5�=E5F5�45�9JAE95B41�1�45B5381��I�3E1>4?�5C�@B539C?�F1

45C45�<1�@1BD5�CE@5B9?B�45<�492E:?�81CD1�<1�@1BD5�9>65B9?B��CD?�5C�1CT@?B� B1J?>5C� 3?>F5>39?>1<5C�� @5B?� C5� 81� 45=?CDB14?� AE5� 5C@BR3D93?�I�6R39<�45�C57E9B��F51=?C�E>?C�5:5=@<?C�>� <1� 697EB1� ��� C5� @E545� F5B� E>� 4917B1=1� 5>� 2<?AE5C� 45� E>@B51=@<969314?B� =93B?6W>93?� �?=5>35=?C� @?B� <1� 9JAE95B41� �+1<3?=?�C5�8135�3?>F5>39?>1<=5>D5��I�>?C�81<<1=?C�3?>�E>�3?>53D?B45� 5>DB141� /#)�� 3?=?� >?� C5� 5C@5396931� ?DB1� 3?C1�� CE@?>4B5=?CAE5� <1� @E>D1� <� C5BR� <1� 45� 3?>5H9W>�1�=1C1�� I� <1C� � I� ��C5BR>� <1C@E>D1C�@?B�4?>45�39B3E<5� <1�C5V1<�1E49?��CD1C�4?C�@E>D1C�5CD1BR>3?>53D141C� 1� <1� 2?29>1� @B9=1B91� 45<� DB1>C6?B=14?B� #1� 2?29>1?@E5CD1�45<�DB1>C6?B=14?B �AE5�B53925�5<�31<96931D9F?�45�C53E>41B91�5CDR� 3?>53D141� 3?>� <1� 5>DB141� 45� E>� 1=@<969314?B� 4965B5>391<� �<?B53?>?35=?C� @?B� <?C� CT=2?<?C� �� I ���� 5CD5� 1=@<969314?B� 5CDR3?>DB?<14?� @?B� E>� 3?>DB?<� 45� 71>1>391�� 45C45� 5<� � 3E1<� C5� @E5451@<931B� E>� 1E=5>D?� 5>� <1� C5V1<� AE5� F1� 45C45� �� 4�� 1� ��� 4� #1C1<941� 45<� 1=@<969314?B� 5C� 45<� D9@?� 21<1>3514?�� I� >?� <<5F1� >9>7X>DB1>C6?B=14?B� 45� 13?@<1=95>D?� �D1<� 3?=?� CE3545� 5>� <1� 5>DB141��5>DB571>4?�<1�C5V1<�49B53D1=5>D5�1<�3?>53D?B�45�C1<941

�>�<1�697EB1����C5�=E5CDB1�5<�4917B1=1�45�E>�31>1<�45�E>�53E1<9J14?B�7BR693?�#1�5>DB141�45�<1�C5V1<5C� 45� D9@?� 21<1>3514?�� 5<� @B9=5B� @1C?� AE5� C97E5� SCD1� 5C� C5B� 1=@<9693141� @?B� E>� 1=@<969314?B4965B5>391<�� 5<� 3?>DB?<� �719>��5CDR�C9DE14?�1� <1� C1<941�45<�1=@<969314?B�@B9=5B?��1>D5C�45�AE5� <1�C5V1<@1C5� @?B� E>� 1=@<969314?B 45� 71>1>391� 69:1� ,>� 69<DB?� 45� 6B53E5>391C� 49F945� <1� C5V1<� 5>� ��� 21>41C49CD9>D1C��@1B1�AE5�3141�E>1�B53921�E>�DB1D1=95>D?�3?>3B5D?�5>�5<�53E1<9J14?B��C9�<1�C5V1<�@1C1�@?B�<1<T>51�CE@5B9?B��>?�B5CE<D1�53E1<9J141�I�C5�49B975�49B53D1=5>D5�81391�5<�69<DB?�@1C1�1<D?C��CD5�69<DB?�5C�4571>1>391�F1B912<5��D1<�3?=?�AE541�5C@53969314?�5>�5<�492E:?�45<�4917B1=1

�E1>4?�<1�C5V1<�121>4?>1�5<�69<DB?��C5�49B975�81391�5<�1=@<969314?B�4965B5>391<�45�C1<941��E>1�@5AE5V1@?B39W>� 45� <1� C5V1<� 3?>DB?<1� E>� 45D53D?B� 45� @93?C� AE5� <<5F1� E> ��� 9>3?B@?B14?� #1� C1<941� 45<1=@<969314?B� C5� 49B975� 81391� 5<� DB1>C6?B=14?B� 45� C1<941� �<?C� CT=2?<?C� 1� F535C� >?� C?>� 492E:14?CC95=@B5�45�<1�=9C=1�6?B=1���5<�C53E>41B9?�45<�DB1>C6?B=14?B�5CDR�3?>53D14?�3?>�<1�C1<941�21<1>3514145<� 53E1<9J14?B�� E>� 39B3E9D? ������� >?C� @E545� @5B=9D9B� 3?=@1B1B� <1� C5V1<� 53E1<9J141� 3?>� <1� <9>51<�C57X>�>?C�=E5CDB1�<1�9>493139W>�45<�4917B1=1#1� 697EB1����@1B535�1<7?�=RC�3?=@<5:1�� I1�AE5�C5� DB1D1�45<�4917B1=1�45�2<?AE5C�45�E>�=5J3<14?B5CDSB5?�3?>���31>1<5C��@5B?�C9 C57E9=?C�<1�>?B=1�45�B5C57E9B� <1�C5V1<�45�9JAE95B41�1�45B5381��I�451BB921�1�121:?��>?�C5BR�496T39<�9>D5B@B5D1B�<?C�@1C?C�AE5�C97E5�45C45�3E1<AE95B�5>DB141�81CD1�<1C�C1<941C+?4?C�<?C�39B3E9D?C�45�5>DB141�5CDR>�C9DE14?C�1�<1�9JAE95B41��C9�295>�5>�<1�@1BD5�9>65B9?B�5CDR�<1�6E5>D545�1<9=5>D139W>�5<S3DB931�45<�=5J3<14?B��� ������������>�<1�@1BD5�35>DB1<�5CDR>�5CAE5=1D9J14?C�<?C2EC5C�45�E>�31>1<��I�1�<1�45B5381�C5�5>3E5>DB1>�<?C�3?>DB?<5C�45�=?>9D?B�I�45�C1<941#1� C5V1<� @B?3545>D5� 45�E>�=93BW6?>?� <<571�1 =93� 9>@ED�� E>� 3?>DB?<� 45�71>1>391�5>�@1B1<5<?� 3?>�E>1=@<969314?B�45�D5>C9W>�5>FT1�<1�C5V1<�81391�<?C�3?>DB?<5C�45�D?>?��AE5�5>�5CD5�=5J3<14?B�C?>�45��D9@?<9>51<� #E57?� <1� C5V1<� FE5<F5� 1� C5B� 1=@<9693141�� I� @E545� C5B� 5>F9141� 81391� 3E1<AE95B� <T>51� 1EH9<91B�=5491>D5� <?C�@?D5>39W=5DB?C�3?BB5C@?>495>D5C��1EH���I� ���?�295>�C57E9B�CE�31=9>?�@?B�5<� 6145B�45<31>1<�� I� <E57?� 5<� 3?>DB?<� @1>?BR=93?� 5>F91BR� <1� C5V1<� 81391� <?C� 31>1<5C� 45B538?� 5� 9JAE95B4?� 45� <1C1<941

�� <1� 45B5381� 45<� 4917B1=1� C5� 5>3E5>DB1>�� @E5C� <1C� <T>51C� 45� C1<941� 45<� =5J3<14?B� '?45=?C3?=@B?21B�3?=?�<1�C1<941�1EH9<91B���3?>D95>5�E>�6145B�AE5�@5B=9D5�B57E<1B�5<�>9F5<�45�C1<941��3?C1�AE5>?�CE3545�3?>�<1�C1<941�1EH9<91B� ��>�<1�@1BD5�9>65B9?B�C5�5>3E5>DB1>�<1C�C1<941C�45�=?>9D?B��3141�<5DB13?BB5C@?>45�1�E>?�45�<?C�31>1<5C�45<�=5J3<14?B��CT�C5�@E545>�5C3?75B�AE5�C5V1<5C�C1<4BR>�@?B�<1C1<941�45�1EB93E<1B5C��AE5�5>�5CD5�31C?�C5BR>�<1C�=9C=1C�AE5�@?4BR>�F9CE1<9J1BC5�5>�<?C�9>49314?B5C45�>9F5<��-,��C9DE14?C�5>�@1B1<5<?

���� �������� �

��*��!%$�(��*$��#�$)�"�(�"�-����% #&0A0�5028;8C0A�D=0�<49>A�2><?A4=B8U=�34�2><>�5D=28>=0�H�34�;0B�0?;82028>=4B�?AP2C820B�34�;>B�0<?;858203>A4B�4B� 2>=E4=84=C4� 2>=>24A� ;0B� A4;028>=4B� 4=CA4� E>;C094�� 8<?430=280� 4� 8=C4=B8303� 4;Q2CA820� �BC0B� A4;028>=4B@D430=�34C4A<8=030B�?>A�;0�;4H�34�%7<��D=0�34�;0B�42D028>=4B�1PB820B�34�;0�5RB820�4;42CAU=820�>=B834A4<>B� 4;� 28A2D8C>� 24AA03>� @D4� 0?0A424� 4=� ;0� 586DA0� =J� � *=0� ?8;0� >� D=0� 10C4AR0� 4B� ;0� 5D4=C4� 340;8<4=C028U=�34�4BC4�28A2D8C>��4BC0=3>�8=38203>B�2>=�;>B�B86=>B���U �;0B�C4A<8=0;4B�34�4BC0�5D4=C4�&>34<>B2>=B834A0A� @D4� 4=� ;0� C4A<8=0;� =460C8E0� 4G8BC4� D=� 4G24B>� 34� 4;42CA>=4B��<84=CA0B� @D4� ;0� C4A<8=0;� ?>B8C8E0A468BCA0� D=0� 1090� 20=C8303� 34� 4BC0B� ?0ACR2D;0B�� 4=� A4;028U=� 2>=� ;0� C4A<8=0;� >?D4BC0� &>A� 4BC4� <>C8E>� B4?A>3D24� D=0� 2>AA84=C4� 34� 4;42CA>=4B� ?>A� 4;� 28A2D8C>�� @D4� 5;DH4� 34B34� ;0� C4A<8=0;� =460C8E0� �3>=34� 70H34<0B803>B��70280�;0�C4A<8=0;�?>B8C8E0��3>=34�70H�?>2>B��*=0�A4B8BC4=280��'��2>=�D=�E0;>A�0342D03>�8<?834@D4� 4;� 5;D9> 34� 4;42CA>=4B� B40� 34<0B803>� AP?83>�� <>34A0=3>� ;0� 3854A4=280� 34� ?>C4=280;� 4=CA4� ;0B� 3>BC4A<8=0;4B� 34� ;0� 5D4=C4� 34� 0;8<4=C028U=�� 4� 8<?8384=3>� 4;� 2>AC>28A2D8C>� �586DA0� ��

"0� A4;028U=� 4=CA4� ;0� 3854A4=280� 34� ?>C4=280;� �>� E>;C094��� 4;� E0;>A� 34� ;0� A4B8BC4=280�� H� 4;� 5;D9>� 34� 4;42CA>=4B�2>AA84=C4�4;Q2CA820��5D4�3458=830�?>A�;0�;4H�34�%7<�

��������������������������������������������!����'

B84=3>�!�;0�2>AA84=C4�<43830�4=�0<?4A8>B����;0�3854A4=280�34�?>C4=280;�4=�E>;C8>B��H�'�;0�A4B8BC4=280�4;Q2CA820<4BDA030�4=�>7<8>B(8�2>=>24<>B�4;�E>;C094�34� ;0�?8;0 BD?>=60<>B�34���E>;C8>B�H� ;0� A4B8BC4=280�4B�34� ���>7<8>B�� ;0� ;4H�34%7<�=>B�?4A<8C4�20;2D;0A�2D0;�B4AP�4;�E0;>A�34�;0�2>AA84=C4�@D4�CA0=B2DAA4�?>A�4;�28A2D8C>�

�����������������������!����� ����������0<?4A8>B������<8;80<?4A8>B*B0=3>� ;0B� ;U6820B� CA0=B?>B828>=4B� 0;641A0820B� ?>3A4<>B� 2>=>24A� ;0B� 5UA<D;0B� ?0A0� 4=2>=CA0A� ;>B� >CA>BE0;>A4B�

����������������������������������'�����!��������������!'

">B�2>=24?C>B 34�A4B8BC4=280��'��4�8<?430=280��.��B>=�?0A4283>B��H�B4�701;0�34�A4B8BC4=280�2D0=3>�B4�CA0C034�;0�>?>B828U=�0�;0�2>AA84=C4�2>=C8=D0��H�34�8<?430=280�2D0=3>�B4�CA0C0�34�>?>B828U=�0�;0�2>AA84=C4�0;C4A=0�;�BR<1>;>�@D4�A4?A4B4=C0�;0�8<?430=280�4B��.���@D430=3>�;0B�42D028>=4B�34�%7<�?0A0�;0�2>AA84=C4�0;C4A=034�;0�B86D84=C4�5>A<0�

���������������������������������!�����.������.�����!����������!.

+40<>B�4;�28A2D8C>�A4?A4B4=C03>�4=�;0�586DA0����=�Q;�� ;0�2>AA84=C4�5;DH4�0;C4A=0C8E0<4=C4�70280�D=�B4=C83>�H70280�4;�>CA>��H0�@D4�B4�CA0C0�34�2>AA84=C4�0;C4A=0�(D?>=84=3>�@D4�B4�2>=>I20�4;�E>;C094 ��E>;C8>B�H�@D4�;08<?430=280�B40�34� ���>7<8>B��;0�8=C4=B8303�@D4�28A2D;0AP�?>A�4BC4�28A2D8C>�B4AP�34�

�����������������������������!��� ���� ������� ��0<? �� ���<8;80<?4A8>B

�;�2>=24?C>�34�?>C4=280�4;Q2CA820�34B2A814�;0�4=4A6R0�DC8;8I030�0;�28A2D;0A�D=0�2>AA84=C4�4;Q2CA820�0�CA0EQB�34D=0�A4B8BC4=280�"0�D=8303�4=�@D4�B4�<4BDA0�;0�?>C4=280�4;Q2CA820�4B�4;�E0C8>��H�;0�5UA<D;0�?0A0�70;;0A;0�4B�

������������������������&����!

(84=3>�&�;0�?>C4=280�4=�E0C8>B����;0�3854A4=280�34�?>C4=280;�4=�E>;C8>B��H�!�4;�5;D9>�34�2>AA84=C4�4=�0<?4A8>B"0�A4;028U=�34�4BC0�5UA<D;0�2>=�;0B�0=C4A8>A4B�=>B�?A>?>A28>=0�;0B�42D028>=4B�@D4�=>B�?4A<8C4=�70;;0A�D=0?>C4=280�4;Q2CA820��2>=>284=3>�C0=�BU;>�3>B�E0;>A4B�

�����������������������������������&���!�'��>�.�������&������'��>�.�

+>;E0<>B�0;�28A2D8C>�34�;0�586DA0����34;�@D4�2>=>24<>B�4;�E0;>A�34�;0�8=C4=B8303���� ��0<?���34�;0�A4B8BC4=280� ���>7<8>B��� H� 34� ;0 3854A4=280�34�?>C4=280;� � ��+���DB0=3>�2D0;@D84A0�34� ;0B�3>B�42D028>=4B�?>3A4<>B20;2D;0A�;0�?>C4=280�4;Q2CA820�@D4�4;�28A2D8C>�?A>?>A28>=0�

������������������������&����� �� � ����� ����,�����������&��� �� �� ����� ����,

�;� =><>6A0<0� 4G?D4BC>� 4=� ;0� 586DA0� �� =>B� ?4A<8C4� 70;;0A� 2D0;@D84A� E0;>A� B8CD03>� 4=� 4;� 2RA2D;>� 8=C4A=>�<4380=C4�;0B�5UA<D;0B�34B2A8C0B�4=CA4�;>B�3>B�2RA2D;>B

�#&"!�!���!O$����)�$(!O$�-����&%)�$�!�"0�C4=B8U=�@D4�B4�>1C84=4�34�D=�<82AU5>=>��34�;0�?0BC8;;0�34D=0�6D8C0AA0��>�34;�2014I0;�34�D=�<06=4C>5U=�4B�<DH�3Q18;�34;� >A34=� 34� D=>B� <8;8E>;C8>B�� <84=CA0B� @D4� ;>B� 0;C0E>24B�4=20A603>B� 34� CA0=B5>A<0A� ;0B� B4T0;4B� 4;Q2CA820B� 4=E81A028>=4B�B>=>A0B��?A428B0=�34�D=0�2>=B834A01;4�?>C4=280?0A0�2D<?;8A�BD�5D=28U=�(4�=424B8C0=��?D4B��34 D=0�B4A84�344C0?0B�@D4� CA0=B5>A<4=� ;0B�3Q18;4B� C4=B8>=4B�A42>6830B�4=;0B�5D4=C4B�34�B4T0;�H�;0B�2>=E84AC0=�4=�B4T0;4B�34�?>C4=280<DH� BD?4A8>A�� ?4A>� @D4� 4=� C>3>� 20B>� 2>=B4AE4=� D=0� 6A0=B4<490=I0�2>=�;0B�>A868=0;4B"0B� 4C0?0B� @D4� A45D4AI0=� ;0� B4T0;� 34� 0D38>� A42814=� 4;=><1A4�34�0<?;858203>A4B��H�?D434=�4BC0A�2>=C4=83>B�4=�4;8=C4A8>A� 34� 0;6V=� >CA>� 4;4<4=C>� �D=0�<4B0�34�<4I2;0B�� D=A038>20B4C4���>�184=�B4A�D=0�D=8303�5RB820�8=34?4=384=C4�=� ;0� 586DA0� �� B4� <D4BCA0� ;0� 2>=BC8CD28U=� 34� D=� B8BC4<00<?;858203>A� 8=C46A03>�� @D4� A42814� ;0� B4T0;� 34� D=0� 5D4=C4

?>A�494<?;>�D=�<82AU5>=>�4=CA460�D=�E>;C094�BD58284=C4�?0A0�<>E4A�D=>B�0;C0E>24B��;�28A2D8C>�34�4=CA030�4B4;�?A40<?;858203>A��2DH0�5D=28U=�4B�;0�34�?A>?>A28>=0A�D=�02>?;4�83U=4>�4=CA4�;0�8<?430=280�34�B0;830�34�;05D4=C4�H�;0�8<?430=280�34�4=CA030�34;�?A>?8>�0<?;858203>A�2>=�4;�58=�34�>1C4=4A�;0�<0H>A�CA0=B54A4=280�?>B81;434�4=4A6R0��;�?A4E8>�?D434�C4=4A�E0A80B�4=CA030B��H�2030�D=0�34�4;;0B�4BC0AP�?A4?0A030�?0A0�CA01090A�2>=D=0B� 8<?430=280B� 34C4A<8=030B� 0342D030B� 0� ;0� 5D4=C4� @D4� B4� 2>=42C4� �D0=3>� ;0� B4T0;� B0;4� 34;?A40<?;858203>A�B4�<0=C84=4�34=CA>�34�D=>B�=8E4;4B�34�0<?;8CD3�D=85>A<4B��B40�2D0;�B40�BD�>A864=

�;� B46D=3>� ?0B>� 4B� 4;� 0<?;858203>A� 34� C4=B8U=�2DH0�58=0;8303�4B�;0�34�4;4E0A�;0�?4@D4T0�C4=B8U=�34�;0�B4T0;�?0A0�@D4�0;20=24�D=0�0<?;8CD3�BD58284=C4�?0A0?>34A� B4A� ?A>24B030�� >� ?0A0� 4G28C0A� 0� ;0� 4C0?0� 58=0;�� 4;� 0<?;858203>A� 34� ?>C4=280� "0� 4C0?0� 34� ?>C4=2800<?;85820� ;0�B4T0;�4=�0<?;8CD3��?A>?>A28>=0=3>� ;0�4=4A6R0�=424B0A80�?0A0�02C8E0A�4;�0;C0E>I�>� ;>B�0;C0E>24B2>=42C03>B�0�BD�B0;830 018CD0;<4=C4�� ;>B� 34=><8=03>B� ?A4E8>B� 4BCP=� 2>=BC8CD83>B� ?>A� D=� ?A40<?;858203>A� �@D4� 86D0;0� ;0B8<?430=280B�� H�D=�0<?;858203>A�34� C4=B8U=��<84=CA0B�@D4� ;0�4C0?0�34�?>C4=280�BD4;4�2>=BC8CD8A� D=0�D=83038=34?4=384=C4�4=�;>B�B8BC4<0B�34�0<?;8582028U=�4=�38A42C>

"0�5D4=C4�34�0;8<4=C028U=�?A>?>A28>=0� ;0B�C4=B8>=4B�4;Q2CA820B�34�2>AA84=C4�2>=C8=D0�H�34�?>;0A8I028U=��@D4?4A<8C4=�4;�5D=28>=0<84=C>�2>AA42C>�34�;0B�>CA0B�?0AC4B�34;�0<?;858203>A�-0�@D4�;0�2>AA84=C4�4;Q2CA820�34�;0A43�4B�0;C4A=0��H�;0�2>AA84=C4�@D4�?A428B0=�;0B�38E4AB0B�4C0?0B�34�D=�0<?;858203>A�4B�2>=C8=D0��;0�5D=28U=�34;0B�5D4=C4B�34�0;8<4=C028U=�34C4A<8=0�4;�1D4=�5D=28>=0<84=C>�34;�2>=9D=C>��4�BD�20;8303�>�34?4=34�4=�6A0=?0AC4�;0�1D4=0�>?4A0C8E8303�34;�0<?;858203>A

$!+�"����"��(�M�"�-�&%)�$�!���$��"��#&"!�!���%'">B�=8E4;4B� 34� C4=B8U=�4=� ;0� B4T0;� @D4� CA0=B?>AC0�D=�0<?;858203>A� B>=�<DH�38E4AB>B�� H0�@D4�2><?A4=34=E0;>A4B� 8=54A8>A4B�0�D=�<8;8E>;C8>� �2><>� ;0�B4T0;�@D4�A42814�34�D=�<82AU5>=>��70BC0�<PB�34����E>;C8>B��D=0C4=B8U=� @D4� ?D434� 4=CA460A� 0� BD� B0;830� D=� 0<?;858203>A� 34� ����,�@D4� CA01094� 2>=�D=0� 8<?430=280� 34��>7<8>B"0�586DA0���<D4BCA0��2><>�494<?;>��2D0;4B�B>=�;>B�=8E4;4B�34�C4=B8U=�4=�38BC8=C>B�?D=C>B�34�D=�0<?;858203>A8=C46A03>� �?A4E8>� �� 4C0?0�� @D4� ?A>?>A28>=0� D=0� ?>C4=280� 34� B0;830� 34� �� E0C8>B�� B>1A4� D=� 0;C0E>I� 34� �>7<8>B�34�8<?430=280�(D?>=84=3>�@D4�;0�C4=B8U=�34�B0;830�34;�<82A>�B40�34� �<8;8E>;C8>��4;�0<?;858203>A�34C4=B8U=�4;4E0�<8;�E424B�;0�C4=B8U=�34�;0�B4T0;��34� �<+�0� �+���<84=CA0B�@D4�;0�4C0?0�34�?>C4=280�0D<4=C0�;0C4=B8U=�@D4�A42814�D=0B������E424B��34� �0������+���><>�;>B�0;C0E>24B�?A428B0=�34�D=0�2>AA84=C4�8=C4=B0?0A0� ?>34A� 5D=28>=0A�� <PB� @D4� D=0� C4=B8U=� 4;4E030�� B4� BD4;4=� 4<?;40A� CA0=B5>A<03>A4B� A43D2C>A4B� 34C4=B8U=�� @D4� ?A>E>20=� D=� 0D<4=C>� 34� ;0� 8=C4=B8303� �BR� ;0� B4T0;� 0?;82030� 0;� 0;C0E>I� C84=4� D=0� C4=B8U=A43D2830������+���?4A>�D=0�8=C4=B8303�2>=B834A01;4

"0�?>C4=280�@D4�D=�0<?;858203>A�?D434�4=CA460A�4BCP�4=�5D=28U=�34�;0�?A>?80�20?028303�34;�<8B<>��H�34�;08<?430=280�34�B0;830�@D4�B4�DC8;824�&>A�4BC>� ;0B�4B?428582028>=4B�34�;0�?>C4=280�4=�D=�0<?;858203>A�3414=8=3820A�2D0;�4B�;0�8<?430=280�2>=�;0�@D4�B4�70�7427>�4;�2P;2D;>��B�34B401;4��0BR�<8B<>��@D4�B4�4B?42858@D4;0� 60<0� 34� 5A42D4=280B� @D4� 010A20� H� 4;� ?>A24=C094� 34� 38BC>AB8U=� @D4� 4G8BC4� 2D0=3>� >?4A0� 0� BD� ?>C4=280<PG8<0��BR��D=0�4B?428582028U=�2>AA42C0�B4A80�

&>C4=280�34�(0;830���>B�20=0;4B�B>1A4���>7<8>B���G�����E0C8>B�>B� 20=0;4B� B>1A4� �� >7<8>B� �� G� ���� E0C8>B� 34� ?>C4=280� 2>=C8=D0�� 2>=�<4=>B� 34;� ���� �� 34� 38BC>AB8U=0A<U=820��4=CA4���� I�H����: I

(4� ?D434� >1B4AE0A� 2><>� ;0� ?>C4=280� @D4� 4BC4� 0<?;858203>A� 4=CA460�� B8� ;>B� 0;C0E>24B� >?4A0=� 2>=� D=08<?430=280�34���>7<8>B��4B�20B8�4;� 3>1;4�34� ;0�@D4�38B?>=4�?0A0� ;0� 8<?430=280�34���>7<8>B��BC>�4B� ;>DBD0;�H�2>AA84=C4��H0�@D4�0�<0H>A�A4B8BC4=280�34�20A60�<4=>A�4B�;0�?>C4=280�@D4�B4�?D434�4=CA460A

'�(&*�()����(�M�"�(�)'�$(!)%'!�(�=�;0�A4?A>3D228U=�<DB820;��4;�CQA<8=>��CA0=B8C>A8>��B4�A4584A4�0�;>B�B>=83>B�@D4�0?0A424=�H�34B0?0A424=�2>=1ADB@D4303��2><>�B8 5D4A0=�D=�8<?02C>�">B�8=BCAD<4=C>B�34�?4A2DB8U=�64=4A0=�;>B�B>=83>B�CA0=B8C>A8>B�<PB20A02C4ARBC82>B��?4A>�=>�B>=�;>B�V=82>B��H0�@D4�0;6D=0B�?0AC4B�E>20;4B 6A8C>B�H�4;4E028>=4B�8=BC0=CP=40B�34E>I�>�0;6D=>B�8=BCAD<4=C>B�34�2D4A30 D=�109>�70284=3> �������� C0<18Q=�?D434=�64=4A0A;>B(8�4BC0�1ADB@D4303�B4�?84A34�4=� ;0�A4?A>3D228U=��34183>�0�@D4�4;�0<?;858203>A�=>�?D434�A4B?>=34A�2>=� ;0BD58284=C4� A0?834I� 0=C4� BD� ?A4B4=280� BV18C0�� ;0� 0D3828U=� <DB820;� ?4A34AP� 3458=828U=� "0� A4B?D4BC0� 0� ;0BB4T0;4B� CA0=B8C>A80B� 8=3820� ;0� 7018;8303� 34;� 0<?;858203>A� ?0A0� A4?A>3D28A� 20<18>B� 1ADB2>B�4=�4;� =8E4;� 34� ;0B4T0;��H�B4�<4BDA0�4=�<82A>B46D=3>B"0� E4;>28303� 34;� 10AA83>� �(;4F� A0C4�� 4B� >CA0� 20A02C4ARBC820� @D4� 8=3820� ;0� 7018;8303� 34;� 0<?;858203>A� ?0A0A4B?>=34A�0� ;>B�20<18>B� AP?83>B�@D4�?D430�7014A�4=�4;�E>;C094�34� ;0�B4T0;��BC0�E4;>28303� C84=4�4B?4280;8<?>AC0=280�?0A0�2>=>24A�2DP;�B4AP�4;�A4=38<84=C>�34�D=0�4C0?0�0�=8E4;4B�34�E>;C094�<DH�4;4E03>B��4B�3428A

2D0=3>�4BCP�CA01090=3>�0�BD�20?028303�<PG8<0��@D4�4=�<D27>B�20B>B�4B�20B8�B84<?A4��"0�E4;>28303�34;10AA83>�B4�<834�4=�E>;C8>B�?>A�<82A>B46D=3>��H�2D0=C>�<0H>A�B40�4;�E0;>A�34;�E>;C094�<49>A�B4AP�;0�20?02830334�A40228U=�34;�0<?;858203>A*=0�A4;028U=�34� ��U� ��E>;C8>B�?>A�<82A>B46D=3>�4B�2>AA42C0�4=�D=0�4C0?0�34�1090�?>C4=280��<84=CA0B�@D4?0A0�;0B�4C0?0B�34�?>C4=280B�4;4E030B��<PB�34�����,�?>A�20=0;��;0�E4;>28303�34�10AA83>�3414�B4A�0;�<4=>B34����E>;C8>B�<82A>B46D=3>�=�;0�586DA0�����4BCP�A4?A4B4=C03>�D=�20<18>�8=BC0=CP=4>�4=�4;�E>;C094�34�;0�B4T0;�34�4=CA030��; 0<?;858203>A3414�A4?A>3D28A�4BC4�20<18>�4=�BD�B0;830��C0=�584;<4=C4�2><>�B40�?>B81;4

�4183>� 0� ;0B� ;8<8C028>=4B� 5RB820B� 34;� ?A>?8>� 28A2D8C>� 340<?;8582028U=�4BC4�20<18>�B4�?A>3D24�2>=�D=�?4@D4T>A4CA0B>�� 4=� A4;028U=� 2>=� 4;� C84<?>� >A868=0;� �BR�� 4=� ;0586DA0�����0?0A424�;0�B4T0;�0�;0�B0;830�34;�0<?;858203>A�?4A>� 2>=� D=� ;864A>� A4CA0B>� A4B?42C>� 0� ;0� B4T0;� 34� ;04=CA030�������D=@D4� 0<10B� 2D0;83034B A4B?D4BC0� 0� CA0=B8C>A8>B� HE4;>28303�34;�10AA83>�<4BDA0=�;0�20?028303�34�A40228U=34;� 0<?;858203>A� 0=C4 20<18>B� AP?83>B� 4=� ;0� B4T0;�� =>70H�@D4�2>=5D=38A;0B�4=CA4�B8

�"��#&"!�!���%'�%&�'�$�%��$�&*�$)�"0B� 4B?428582028>=4B� 34� ;0B� 4C0?0B� 34� ?>C4=280?A>54B8>=0;4B�BD4;4=�7024A�<4=28U=�34�BD�20?028303�34>?4A0A�2>=�D=�V=82>�0;C0E>I��4=�<>=>��0BR�?>A�494<?;>�

&>C4=280�34�B0;830���G����,�B>1A4���>7<8>B��G� ���,�B>1A4���>7<8>B����,��4=�?D4=C4�B>1A4���>7<8>B

"0�V;C8<0�4B?428582028U=�8=5>A<0�34�;0�?>C4=280�@D4�4;�0<?;858203>A�?D434�4=CA460A�B8�CA01090�4=�<>=>��2>=;>B� 2>=42C>A4B� 34� B0;830� �?D4=C403>B�� �D0=3>� D=� 0<?;858203>A� CA01090� 2>=� D=� ?D4=C4� 4=� BDB� 1>A=4B� 34B0;830�� ;>B� 3>B� 20=0;4B� A42814=� ;0�<8B<0� B4T0;� 0� BD� 4=CA030�� ?4A>� ;0� ?>;0A8303�34�D=0�34� ;0B� B0;830B� 34;0<?;858203>A�4B�8=E4AB0�A4B?42C>�0�;0�>CA0�B0;830��BC>�B4�3414�0�@D4�;0�8=<4=B0�<0H>AR0�34 0<?;858203>A4B@D4�4G8BC4=�>?4A0=�4=��?DB7?D;;��>�2>=CA050B4�BC0�<>30;8303�A4?A4B4=C0�D=0�<49>A0�=>C01;4�B>1A4�;0B�C4A<8=028>=4B�V=820�H�4=�?0A0;4;>��@D4�B>=�;0B�@D4B4� DC8;8I0A>=� ?0A0� ;>B� ?A8<4A>B� <>34;>B� 34� 0<?;858203>A� "0� C4A<8=028U=� 4=� �&DB7?D;;�� ?A428B0� @D4� ;0BB4T0;4B� 34� 4=CA030� 4BCQ=� 34B50B030B� ��J� 4=CA4� BR� ">B� 2><?>=4=C4B� 02C8E>B� 34� ;0� 4C0?0� �EP;ED;0B�CA0=B8BC>A4B� >� <>B54C�� 4BCP=� 38B?D4BC>B� ?>A� ?0A490B�� 34� <0=4A0� @D4� BU;>� CA01090� D=>� 34� 4;;>B� 4=� 20300;C4A=0=280�34�;0�B4T0;��<84=CA0B�4;�>CA>�A4?>B0�H�B4�A45A864A0��=�;0�586DA0���B4�?D434�E4A�4;�4B@D4<0�34�D=04C0?0�34�?>C4=280�@D4�CA01090�4=�2>=CA050B4��B84=3>�BDB�2><?>=4=C4B�02C8E>B�3>B�EP;ED;0B�34�E02R>

"0�5>A<0�34�2>=42C0A�D=�0;C0E>I��>�B8BC4<0�34�0;C0E>24B��0�D=0�4C0?0�5D=28>=0=3>�4=�?D4=C4�4BCP�<>BCA0304=�;0�586DA0���"0�20A60�70280�;>B�0;C0E>24B�B4�C><0�34�;0B�C4A<8=0;4B�?>B8C8E0B�34�0<1>B�20=0;4B��34�4BC05>A<0� ;0� ?>C4=280� 34� B0;830� 4B� 4;� 3>1;4� 34� ;0� @D4 C4=3AR0� B8� 2>=42CPA0<>B 4;� 0;C0E>I� 0� D=� BU;>� 20=0;� 34

B0;830�B�4B4=280;�@D4�B4�C4=60�4=�2D4=C0�2DP;�4B�4;�E0;>A�34�;0�8<?430=280�2D0=3>�B4�>?4A0�4=�?D4=C4��H@D4�BD4;4�B4A�4;�3>1;4�34;�E0;>A�<R=8<>�@D4�C84=4�2D0=3>�B4�>?4A0�4=�4BCQA4>

$>�B4�3414�2>=5D=38A�D=0�2>=4G8U=�4=�?D4=C4�2>=�;0�2>=<DC028U=�34�B0;830�4=�<>=>�@D4�?D434=�4542CD0A<D27>B�0<?;858203>A4B�7858�� H0�@D4�4=�4BC4�V;C8<>�20B>� ;>B�3>B�20=0;4B� A4?A>3D24=� ;0�B4T0;�2>=� 83Q=C82050B4��H�2030�20=0;�4BCP�2>=42C03>�2>=�D=0�0;C0E>I�38BC8=C>

�"����)%'�����#%')!�*��!O$�D0=3>�D=�0;C0E>I�4B�?D4BC>�4=�<>E8<84=C> ?>A�D=0�B4T0;�4;Q2CA820�?A>E4=84=C4�34;�0<?;858203>A��;0�?A>?808=4A280�34�BD�<0B0� ;4�70AP�B46D8A�<>E8Q=3>B4�0V=�2D0=3>�;0�B4T0;�H0�70H0�24B03>�"0�2>AA84=C4�4;Q2CA82064=4A030�?>A�4BC4�<>E8<84=C>�A4B83D0;�B4�2>=B834A0� 5D4AI0�2>=CA04;42CA><>CA8I��4=�>CA0B�?0;01A0B�4B�D=02>AA84=C4�@D4�3414AP�B4A�E4=2830�?0A0�<>E4A�4;�0;C0E>I�2>AA42C0<4=C4�;� 502C>A� 34� 0<>AC86D028U=� 4B� 4;� ?0AP<4CA>� @D4� =>B� 8=3820� ;0� 20?028303� 34� D=0� 4C0?0� ?0A0� 2>=CA>;0A� ;>B<>E8<84=C>B� 34B2>=CA>;03>B� 34� ;>B� 0;C0E>24B�� H� B4� >1C84=4� 34� 38E838A� ;0� 8<?430=280� 34� ;0� ;R=40� 34� 20A60�4=CA4�;0�4C0?0�H�;>B�0;C0E>24B��?>A�;0�8<?430=280�8=C4A=0�@D4�C4=60�;0�4C0?0�0=C4B�34�;;460A�0;�CA0=B5>A<03>A34�B0;830�D0=C>�<PB�4;4E03>�B40�4BC4�E0;>A��<49>A�?>3AP�2>=CA>;0A�;0�4C0?0�4;�<>E8<84=C>�34�;>B�0;C0E>24B�@D4�C4=602>=42C03>B

'�"��!O$��$)'��&%)�$�!��-�3��(&"�;� 502C>A� @D4� A4;028>=0� ;0� ?>C4=280� 34� D=� 0<?;858203>A� 2>=� 4;� =8E4;� 34� ?A4B8U=� B>=>A0� @D4� 4=CA460=� ;>B0;C0E>24B� 4B� ;0� B4=B818;8303� 34� ;>B� 0;C0E>24B� �BC0� B4=B818;8303� E84=4� 4B?428582030�� 64=4A0;<4=C4�� 4=342814;8>B� (&"�� <4BDA03>B� 2>=� D=0� 20A60� 34� � E0C8>� H� 0� D=� <4CA>� 34� 38BC0=280� 34;0=C4� 34;� 0;C0E>I$>A<0;<4=C4�B4�4=ER0�70280�4;�0;C0E>I�D=0�B4T0;�34� �E0C8>�34�?>C4=280��H�B4�<834�;0�?A4B8U=�B>=>A0��4=�3�(&"��2>=�D=�B>=U<4CA>�B8CD03>�0�D=�<4CA>�34;0=C4�34;�494�34;�0;C0E>I(8� 2>=B834A0<>B� D=�0;C0E>I�@D4� C4=60�D=0� B4=B818;8303�34����3��(&"�� 2>=�D=0� 20?028303�34� ��� E0C8>B=><8=0;4B�H�����E0C8>B�34�?82>��E40<>B�2><>�20;2D;0A�;0�?A4B8U=�B>=>A0�2>=C8=D0�H�<PG8<0�@D4�4BC4�0;C0E>I4B� 20?0I�34�4=CA460A�'42>A34<>B�@D4�4;� 342814;8>� B84<?A4�4G?A4B0�D=0� A4;028U=�4=CA4� E0;>A4B�� H� =>�D=E0;>A�01B>;DC>�&A8<4A>�B4�70;;0�4;�8=2A4<4=C>�4=�3��2D0=3>�4;�0;C0E>I�A42814� ���,�2>=C8=D>B�

����������� �;>6�& �&����� �;>6�;���,��;�,���� �;>6� ����� ��������3�

�D0=3>� A42814�D=0� 20A60�34� ���,�4;� 8=2A4<4=C>�4B�34����3�B��?>A�4=28<0�34;� E0;>A�34� ;0�?A4B8U=�@D4494A24�2D0=3>�A42814�BU;>� �,��B8�4BC4�E0;>A�4B�34����3��(&"��;0�?A4B8U=�@D4�30AP�2D0=3>�4;�0;C0E>I�A42810 ���E0C8>B�B4AP�34�

������������(&"�2>=C8=D>������3�������3���� ��3��(&"

�4�;0�<8B<0�<0=4A0�?>3A4<>B�4=2>=CA0A�4;�E0;>A�<PG8<>�34�;0�?A4B8U=�B>=>A0�@D4�?D434�30A�4;�0;C0E>I�

������������ �;>6�����,��� �,���� �;>6�������� ����������3�

"0�?A4B8U=�B>=>A0�<PG8<0�@D4�=>B�?D434�4=CA460A�B4AP�?D4B�34�

����������3�������3���� ��3��(&"

(8�D=�0;C0E>I�C84=4�D=0�B4=B818;8303���3��8=54A8>A�0�>CA>��B4AP�?A428B>�@D4�A42810�34;�0<?;858203>A�4;�3>1;4�34?>C4=280�@D4�4;�B46D=3>��?0A0�>1C4=4A�;0�<8B<0�?A4B8U=�02VBC820�(8�C4=4<>B��?>A�494<?;>��D=�0;C0E>I�2>=D=0 B4=B818;8303� 34� ��� 3�� (&"� � �,� <�� H� A42814� D=0� 20A60� 34;� 0<?;858203>A� 34� ��� E0C8>B�� 4;� =8E4;� 34?A4B8U=�@D4�4=CA460AP�B4AP�34�

���������������3�������3���� ��3��(&"

�BC>B� ��3��4BCP=���3��?>A�34109>�34�;0�?A4B8U=�>1C4=830�2>=�4;�0;C0E>I�34;�?A8<4A�494<?;>��4<?;40=3>�;0<8B<0�?>C4=280�34;�0<?;858203>A� 0AR0�50;C0�3>1;0A� ;0�?>C4=280�@D4�4=CA460�4;�0<?;858203>A�?0A0�>1C4=4A�;0<8B<0�?A4B8U=�B>=>A0�&>A�4BC>�4;�CQ2=82>�2>=B834A0�;0�B4=B818;8303�34�;>B�0;C0E>24B�2>=�@D4�CA01090�2><>D=� 502C>A� 34� 8<?>AC0=280� ?A8=28?0;�� H0� @D4� 0� <0H>A� B4=B818;8303� 34;� 0;C0E>I� <4=>A� 4B� ;0� ?>C4=280� 340<?;8582028U=�@D4�?A428B0�?0A0�>1C4=4A�D=0�<8B<0�?A4B8U=�B>=>A0

�(&��!�!���!%$�(����&%)�$�!���$�"%(��#&"!�!���%'�(*=0�4B?428582028U=�CR?820�34�D=0�4C0?0�34�?>C4=280�?A>54B8>=0;�?D434�B4A�2><>�;0�@D4�B86D4�

&>C4=280�2>=C8=D0����G� ���,�B>1A4���>7<8>B���������������������G�����,�B>1A4���>7<8>B&>C4=280�34�?A>6A0<0����G� ���,�B>1A4���>7<8>B������������������������G�����,�B>1A4���>7<8>B&>C4=280�4=�?82>B����G�����,�B>1A4���>7<8>B���������������������G�����,�B>1A4���>7<8>B

�� ;0� E8BC0� 34� 4BC0� 4B?428582028U=�� D=>� ?D434� ?A46D=C0AB4� 2DP;� 4B� ;0� ?>C4=280� @D4� =>B� 3414� B4AE8A� 34A454A4=280�?0A0�4B2>64A� ;>B�0;C0E>24B�<PB�0342D03>B�?0A0�4BC0�4C0?0�*=�?A8<4A�4;4<4=C>�?0A0�20;81A0A;>B4AP� ;0� 8<?430=280� 34� 20A60� 2>=� @D4� CA01094=� ;>B� 0;C0E>24B� �DBD0;<4=C4� �� D� �� >7<8>B�� *=0� E4I34C4A<8=03>�4BC4�E0;>A��E40<>B�4;�B86=858203>�4BCA82C>�34�2030�D=0�34�;0B�?>C4=280B�0AA810�8=382030B�

�����������������

�B� ;0� 5>A<0� <PB� ?A428B0� 34� 5028;8C0A ;0� ?>C4=280� @D4� 4=CA460� ;0� 4C0?0�� H0� @D4� 8=3820� @D4� 4BC4� E0;>A� B4<0=C84=4�B>1A4�C>30�;0�60<0�34�5A42D4=280B�@D4�4;�0<?;858203>A�?D434�A45>AI0A��H�B8=�B>1A4?0B0A�4;�;R<8C4�3438BC>AB8U=�4BC01;4283>��=�<D270B�>20B8>=4B��0�4BC0�?>C4=280�B4� ;0�34=><8=0�'#(� H�0D=@D4�4BC>�=>�4BA86DA>B0<4=C4�4G02C>��BD�E0;>A�4BCP�;>�10BC0=C4�?AUG8<>�2><>�?0A0�2>=B834A0A;>�EP;83>

��������������������

�>AA4B?>=34� 0� ;0� ?>C4=280�<PG8<0� @D4� ?D434� 4=CA460A�� DC8;8I0=3>� D=0� B4T0;� 34� ?AD410� @D4� B4� 0B4<490<D27>�0� ;0�B4T0;�<DB820; A40;�(D�E0;>A�2>8=2834�2>=�4;�?A><438>�34�=8E4;4B�<PG8<>B�@D4�4;�0<?;858203>A?D434�4=CA460A��B8=�38BC>AB8U=��3DA0=C4�24A20�34�D=�<8=DC>

�����������������

(4� A4584A4� 0� ;>B� =8E4;4B�<PG8<>B�� 34�<DH� 2>AC0� 3DA028U=�� @D4�4;� 0<?;858203>A� 4B�20?0I�34�4=CA460A�0� ;>B0;C0E>24B�B8=�@D4� ;;46D4�0�B0CDA0AB4��BC4�E0;>A�BU;>�4B�EP;83>�?0A0�B>=83>B� CA0=B8C>A8>B��2>=�D=0�3DA028U=@D4�=>�BD?4A4� � ��34�B46D=3>�"0�DC8;8303�34�4BC0�285A0�4B��4=�2>=B42D4=280��10BC0=C4�A4;0C8E0

�>=� C>3>B� 4BC>B� 30C>B� =>B� B4AP� ?>B81;4 2>=B834A0A� 2D0;4B� B4AP=� ;>B� 0;C0E>24B� @D4� <49>A� A4=38<84=C>>5A4I20=��?0A0�CA01090A�2>=�;0�4C0?0�@D4�B4�70�<4=28>=03>�"0�?>C4=280�=><8=0;�34;�0;C0E>I�3414�4BC0A�4=;>B� ���,�B8�CA01090�0���>7<8>B��H�4=�����,�B8�CA01090�0���>7<8>B��2>8=28384=3>�;>�<PG8<>�?>B81;4�2>=�;0?>C4=280�2>=C8=D0�34�;0�4C0?0(8� ;0� ?>C4=280� =><8=0;� 34;� 0;C0E>I�4B�BD?4A8>A�0� ;0�?>C4=280�2>=C8=D0�@D4�4=CA460� ;0�4C0?0�� A4BD;C0�@D4�4;A4=38<84=C>�34;�0;C0E>I�=D=20�;;460�0�B4A�<PG8<>��H0�@D4�;0�20A60�@D4�;4�4=ER0�;0�4C0?0�=>�B4AP�BD58284=C4�D0=3>�;0�?>C4=280�2>=C8=D0�34�;0�4C0?0�4B�BD?4A8>A�0�;0�?>C4=280�=><8=0;�34;�0;C0E>I��70H�@D4�2><?A>10A�B8C0<18Q=�;0�?>C4=280�4=�?82>B�34�;0�4C0?0�4B�BD?4A8>A�0�;0�@D4�4;�0;C0E>I�?D434�03<8C8A�(8�4B�0BR��701AP�@D4<0=490A�4;�2>=CA>;�34�60=0=280�34; 0<?;858203>A�2>=�20DC4;0��B84<?A4�?>A�34109>�34�BD�?D=C>�<PG8<>��H0�@D4D=0�B>1A420A60�34�;0�B4T0;�4=E8030�?>A�;0�4C0?0�?>3AR0�20DB0A�;0�34BCAD228U=�5RB820�34�;0�1>18=0�34;�0;C0E>I

+K"+*"�(��)'�$(!()%'�(��#%(��)��=�;0�4C0?0�58=0;�34�D=�0<?;858203>A�B84<?A4�70H�D=>B�2><?>=4=C4B�02C8E>B�2DH0�5D=28U=�4B�;0�34�0D<4=C0A;0�8=C4=B8303�>�4;�E>;C094�34�;0�B4T0;�34�0D38>��BC>B�2><?>=4=C4B�?D434=�B4A�34�E0A80B�=0CDA0;4I0B��B8�184=;>B�<PB�DBD0;4B�B>=�;0B�EP;ED;0B�34�E02R>��;>B�CA0=B8BC>A4B��H�;>B�#%(��)��CA0=B8BC>A4B�34�4542C>�34�20<?>��4183>�0�BD�20A4BCR0�H�0�BD�=0CDA0;4I0�34;82030��;0�EP;ED;0��586DA0����70�B83>�34B?;0I030�?>A�;>B�CA0=B8BC>A4B

�586DA0� ���4=�20B8�C>3>B�;>B�DB>B�$>�>1BC0=C4��H�34183>�0;�B>=83>�?0AC82D;0A<4=C4�3D;24�@D4�4=CA460=��0V=B>=�DC8;8I030B�4=�;0�2>=BCAD228U=�34�<D27>B��2><1>B��?0A0�109>B�H�6D8C0AA0B�4;Q2CA820B��0BR�2><>�C0<18Q=�4=0;6D=>B�0<?;858203>A4B�34�4G24?28>=0;�20;8303�34BC8=03>B�0�;0�0;C0�5834;8303

"0�3DA4I0� 5RB820�� ;0� 5028;8303�4=�BD� 501A82028U=��H�4;�2>BC4�<>34A03>�@D4� C84=4=��7024�@D4� ;>B� CA0=B8BC>A4BB40=� 7>H� 4;� 2><?>=4=C4� 02C8E>� <PB� DC8;8I03>� 4=� C>3>� C8?>� 34� 0<?;858203>A4B� $D4E>B� 2><?>=4=C4B34B24=384=C4B� 34;� CA0=B8BC>A� ���)��#%(��)�� 4C2�� B4� 8=2>A?>A0=� 2>=C8=D0<4=C4� 0� ;>B� V;C8<>B�<>34;>B� 340<?;858203>A4B�� H0� @D4� >5A424=� D=� B>=83>� <PB� ;8<?8>�� D=0� 4;4E030� 20?028303� 4=� ?>C4=280�� H� D=5D=28>=0<84=C>�<PB�B46DA>�@D4�;>B�CA0=B8BC>A4B�2>=E4=28>=0;4B*=0�34�;0B�3854A4=280B�4B4=280;4B��4=�;>�A454A4=C4�0�;0�02CD028U=�34�;0B�EP;ED;0B�A4B?42C>�0�;>B�CA0=B8BC>A4B�2>=B8BC4�4=�;0�5>A<0�2><>�A42>AC0=�D=0�B4T0;�2D0=3>�QBC0�B>1A4?0B0�BD�?>C4=280�<PG8<0��D0=3>�;0�B4T0;4<8C830�B4�0?A>G8<0�0;�<PG8<>�?>C4=280;�34�0<?;8582028U=�34�;0�EP;ED;0��QBC0�A40228>=0�2030�E4I�<4=>B�4=A4;028U=�2>=� ;0�B4T0;�34�4=CA030�� A4BD;C0=3>�D=0�2><?A4B8U=�34� ;0�B4T0;�2>=�D=�BD0E4�A42>AC4��2D0=3>�B40;20=I0�;0�<PG8<0�?>C4=280�">B�CA0=B8BC>A4B�A40228>=0=�;8=40;<4=C4�0�;0�B4T0;�34�4=CA030��70BC0�@D4�;;460=0�BD�<PG8<0�20?028303��4=C>=24B�B4�?0A0=�1ADB20<4=C4��?A>3D284=3>�D=�A42>AC4�34�;0�B4T0;�<DH�<0A203>�BC>B 38BC8=C>B�C8?>B�34�2>AC4�?A>3D24=�3854A4=C4B�B4A84B�34�0A<U=82>B��D0=3>�D=�CA0=B8BC>A�A42>AC0�;0�B4T0;B4�?A>3D24=�D=>B�0A<U=82>B�4G2Q=CA82>B�H�<DB820;<4=C4�8=024?C01;4B��<84=CA0B�@D4�4;�A42>AC4�34�;0�EP;ED;0?A>3D24� B4A84B� 34� 0A<U=82>B�<PB� >A34=03>B� "0 38BC>AB8U=� 34� ;0� EP;ED;0� BD4=0�<PB� 2P;830�� ?>A� 4BC>� 4BDC8;8I030�?>A�<D27>B�6D8C0AA8BC0B�4=�BDB�2><1>B

�=� ;0� 586DA0� � B4� ?D434� >1B4AE0A� 4;� 38BC8=C>� 2><?>AC0<84=C>� 34� CA0=B8BC>A4B� H� EP;ED;0B� 2D0=3>� ;0� B4T0;4G2434�0�BD�20?028303"0�B>;D28U=�?0A0�38B?>=4A�34�0<?;858203>A4B�2>=�CA0=B8BC>A4B�@D4�=>�BD5A0=�4BC4�A42>AC4�3APBC82>�34�;0�B4T0;�4B� 2>=C0A� 2>=� ;0� BD58284=C4� ?>C4=280� 34� A4B4AE0� (>1A438<4=B8>=0=3>� ;0� 20?028303� 34;� 0<?;858203>A� 4;CA0=B8BC>A�=>�0;20=I0AP�4;�=8E4;�3>=34�A42>AC0�0�;0�B4T0;��4E8C0=3> ;0�38BC>AB8U=�@D4�?A>E>20

�%$)'%"�$�%�"��!#&���$�!�"0� ?>C4=280� @D4� D=� 0;C0E>I� ?D434� 4GCA04A� 34� D=0� 4C0?0� 34� ?>C4=280� 4B� 8=E4AB0<4=C4� ?A>?>A28>=0;� 0� ;08<?430=280� 34� ;0� ;R=40� �BC>� 4B� 5P28;� 34� 2><?A>10A� B8� B4� >1B4AE0=� ;0B� 4B?428582028>=4B� 34� ?>C4=280� 342D0;@D84A�0<?;858203>A��H0�@D4�4=CA460�<0H>A�?>C4=280�2D0=3>�;0�8<?430=280�4B�<4=>A"0B�8<?430=280B�7018CD0;4B�4=�;>B�B8BC4<0B�34�?>C4=280�B>=�34� ������H���>7<8>B��E0;>A4B�@D4�2>AA4B?>=34=0� B8BC4<0B� 34� 1090� 8<?430=280� �=� 4BC>B� B8BC4<0B� ;0� 38BC0=280� 4=CA4� ;0B� 4C0?0B� 34� 0<?;8582028U=� H� ;>B0;C0E>24B� 3414� B4A� ;>�<4=>A� ?>B81;4�� H0� @D4� 2D0=3>� ;0� ;>=68CD3� 34� ;0� ;R=40� 4B� 4G24B8E0� B4� ?A>3D24� D=0?QA3830�34�?>C4=280��34183>�0�;0�?A>?80�A4B8BC4=280�@D4�>5A424�4;�201;4�2>=3D2C>A�D0=3>� B4�>?4A0� 2>=� B8BC4<0B�3>=34� ;0� 38BC0=280� 4=CA4� 0<?;858203>A4B� H� 0;C0E>24B�4B�<DH�=>C01;4�� B4AP?A428B>�DC8;8I0A�4C0?0B�34�?>C4=280�2>=�B0;830B�34�0;C0�8<?430=280 4=CA4�����H�����>7<8>B��=�4BC>B�20B>BB4AP�>1;8603>�4;�DB>�34�CA0=B5>A<03>A4B���A43D2C>A4B�@D4�A43DI20=�;0�8<?430=280�34�;0�;R=40��0=C4B�34�@D4;0�B4T0;�4G28C4�;>B�0;C0E>24B�><>�=>A<0�64=4A0;��?D434�3428AB4�@D4�;0�;>=68CD3�34�;0�;R=40�4=CA4�;0B�4C0?0B�34�?>C4=280�H�;>B�0;C0E>24B=D=20�3414�BD?4A0A�;>B����<4CA>B��B8�B4�CA01090�0���>7<8>B���>�;>B� ���<4CA>B��CA01090=3>�0���>7<8>B���4=0<1>B� 20B>B�� 4;� 6A>B>A� <R=8<>� 34;� 201;4� B4AP� 34� ���<<� �=� 2D0;@D84A� 20B>�� 2D0=C>�<PB� 2>AC0� B40� ;0;>=68CD3�34;�201;4�@D4�D=4�;0�4C0?0�0�;>B�0;C0E>24B��<4=>A�B4AP�;0�?QA3830�34�?>C4=280�@D4�BD5A0�;0�B4T0;�3420A60

"0�8<?430=280�@D4�>5A424=�;>B�0;C0E>24B�E0AR0�>BC4=B81;4<4=C4�2>=�;0�5A42D4=280��=�;0�586DA0� ��B4�?D434

>1B4AE0A�D=0�2DAE0�CR?820�34�;0�8<?430=280�4=�D=0;C0E>I�*BD0;<4=C4��;0�8<?430=280�=><8=0;�@D4B4� 4B?4285820� 2>8=2834� 2>=� 4;� E0;>A� <R=8<>� 344BC0� 2DAE0�� @D4� 0?0A424� CA0B� 4;� ?82>� 34A4B8BC4=280�<PG8<0�D0=3>� 70H� @D4� 2>=42C0A�<PB� 34� D=� 0;C0E>I�0D=0� <8B<0� B0;830� 34� D=0� 4C0?0�� 4B� ?A428B>20;2D;0A� 2DP;� B4AP� 4;� E0;>A� 34� ;0� 8<?430=2802>=9D=C0� @D4� ?A4B4=C4=� ;>B� 0;C0E>24B� 0H� 3>B5>A<0B�1PB820B�?0A0�4542CD0A�4BC0B�2>=4G8>=4B�4= B4A84� H� 4=� ?0A0;4;>� �=� ;0B� 2>=4G8>=4B� 4=B4A84� �586DA0� ���� ;0� 8<?430=280� 34� ;0� ;R=40� B470;;0AP� BD<0=3>� ;0B� 8<?430=280B� 34� ;>B0;C0E>24B� 2>=42C03>B� �=� ;0B� 2>=4G8>=4B� 4=?0A0;4;>��586DA0� ����4;�E0;>A�34�;0�8<?430=280�B470;;0AP�<4380=C4�4BC0�5UA<D;0�

(84=3>�=�4;�=V<4A>�C>C0;�34�0;C0E>24B�4=�?0A0;4;>�BR�� 2D0=3>� B4� 3410� 2>=42C0A� 3>B� 0;C0E>24B� 34� �� >7<8>B�� ?>34<>B� >?C0A� ?>A� D=8A;>B� 4=� B4A84� 2>=� ;0BC4A<8=0;4B�34� ��>7<8>B�34�;0�4C0?0��>�184=�D=8A;>B�4=�?0A0;4;>�H�2>=42C0A;>B�0�;0B�C4A<8=0;4B�34���>7<8>B34;� 0<?;858203>A� �=� 0<1>B� 20B>B�� B84<?A4� @D4� ;0� ;R=40� =>� B40� 34<0B803>� ;0A60�� ;>B� 3>B� 0;C0E>24B01B>A14AP=� C>30� ;0� 4=4A6R0� BD<8=8BCA030� ?>A� 4;� 0<?;858203>A�� A4?0AC8Q=3>B4� ;0� ?>C4=280� 4=CA4� 0<1>B0;C0E>24B�?>A�86D0;"0B�2>=4G8>=4B�4=�B4A84�C84=4=�;0�E4=C090�34�@D4�;0B�?QA3830B�341830B�0�;0�;>=68CD3�34�;0�;R=40�B>=�<4=>A4B@D4�;0B�74270B�4=�?0A0;4;>��H0�@D4�;0�;>=68CD3�C>C0;�34;�201;403>�4B�8=54A8>A�&4A>�?A4B4=C0=�4;�?A>1;4<0�34�;0?>B81;4�AD?CDA0�>�<0;5D=28U=�34�D=>�34�;>B�0;C0E>24B��H0�@D4�4=C>=24B�;0�B4T0;�3490�34�28A2D;0A�?>A�;0�;R=40�H=8=6D=>�34�;>B�3>B�BD4=0��=�D=�20B>�B8<8;0A��AD?CDA0�34�D=�0;C0E>I��D=0�2>=4G8U=�4=�?0A0;4;>�?4A<8C8AR0�@D44;�0;C0E>I�=>�0542C03>�2>=C8=D0AP�5D=28>=0=3>�=� 2D0;@D84A� 20B>�� 4B� 1PB82>� A4B?4C0A� ;0B� ?>;0A83034B� 8=382030B� 4=� ;>B� 1>A=4B� 34� ;>B� 0;C0E>24B� H� 34� ;0B4C0?0B��586� ���'42>A34<>B�@D4�4;�1>A=4�����4B�34�2>;>A�A>9>��<84=CA0B�@D4�4;����4B�34�2>;>A�=46A>

�(�%��'�*$��%#�%"0� 4;4228U=� 34� D=� 2><1>� 0342D03>� C84=4� D=0� 8<?>AC0=280� 4B?4280;� ?0A0� 2D0;@D84A� <VB82>� @D4� 34B444G?;>A0A�;0B�2D0;83034B�CR<1A820B�H�38=P<820B�34�BD�8=BCAD<4=C>�*=�2><1>�@D4�B4�030?C4�0�;>B�34B4>B�H�0;0B�?>B818;83034B�34;�<VB82>�B4�2>=E84AC4�4=�D=�584;�0;803>�34�QBC4�PB820<4=C4��D=�2><1>�B4�2><?>=4�34�D=�?A40<?;858203>A��D=0�4C0?0�34�?>C4=280��H�D=>�>�E0A8>B�0;C0E>24B�C>3>�4;;>�A4D=83>�4=�D=�<D41;4�?A4?0A03>�?0A0�B4A�CA0=B?>AC03>*=0� 34� ;0B� 2;0B8582028>=4B� 1PB820B� 34� ;>B� 2><1>B� 4B� ;0� @D4� 0C84=34� 0� ;>B� 28A2D8C>B� H� 4;4<4=C>B� @D4� B4DC8;8I0=� 4=� Q;�� >� B40� EP;ED;0B� 34� E02R>� >� CA0=B8BC>A4B� �D0=3>� D=� 0<?;858203>A� 0� EP;ED;0B� CA01090� 2>=� D=4;4E03>� E>;D<4=� 34� 4=CA030� ;;460� 0� 38BC>AB8>=0A� 34� D=� <>3>� 20A02C4ARBC82>�� 34183>� 0� ;0� 64=4A028U=� 340A<U=82>B�?0A4B��BC0�38BC>AB8U=�A4BD;C0�06A0301;4�0;�>R3>�H�;4�2>=584A4�D=0�20;834I�20A02C4ARBC820�=� 2>=3828>=4B� B8<8;0A4B�� ;>B� 2><1>B� 4@D8?03>B� 2>=� CA0=B8BC>A4B� 64=4A0=� 0A<U=82>B� 34� >A34=� 8<?0A� HE0;>A4B� 0;40C>A8>B�� A4BD;C0=3>�D=� B>=83>�PB?4A>�H�?>2>�06A0301;4��BC>B�2><1>B�=>�B>=�0342D03>B�?0A04542CD0A� B0CDA028>=4B� 34� ;0� B4T0;�� 4BC0� 5D=28U=� B4� A4B4AE0�0� ;>B� 34� EP;ED;0B� 0H�@D4� C4=4A� ?A4B4=C4�� =>>1BC0=C4��@D4� ;>B�4@D8?>B�0�EP;ED;0B�A4@D84A4=�D=>B�2D8303>B�H�<0=C4=8<84=C>�4B?4280;��;�4=E49428<84=C>34� ;0B� EP;ED;0B� ?A>3D24� D=� AD83>� 10BC0=C4� 0?A42801;4�� ?>A� ;>� @D4� 4B� A42><4=301;4� BDBC8CD8A;0B� 2>=� 284AC0?4A8>3828303� �4� ;0�<8B<0� 5>A<0�� =>� 70H� @D4�<>E4A� =8� CA0=B?>AC0A� D=� 2><1>� 0� EP;ED;0B� 8=<4380C0<4=C434B?DQB� 34� BD� DB>�� 4B <49>A� 4B?4A0A� 0;6D=>B� <8=DC>B� 0� @D4� B4� 4=5AR4=�� H0� @D4� B4� 2>AA4� 4;� A84B6>� 3434C4A8>A0A;0B">B�2><1>B�0�EP;ED;0B�B>=�<DH�DC8;8I03>B�?>A�;>B�6D8C0AA8BC0B�4;Q2CA82>B��H0�@D4�0�?4B0A�34�;0B�;8<8C028>=4B8=382030B�?4A<8C4�D=0B�B0CDA028>=4B�B>=>A0B�<DH�0?A428030B�?>A�4BC>B�<VB82>B�">B�2><1>B�0�CA0=B8BC>A4BB>=�<PB�DC8;8I03>B�?>A�;>B�1098BC0B�H�?>A�;>B�C42;8BC0B��H0�@D4�7018CD0;<4=C4�=>�?A428B0=�34�;0B�38BC>AB8>=4B20A02C4ARBC820B�34� ;0B�EP;ED;0B��34<PB�� ;>B�2><1>B�0� CA0=B8BC>A4B�B>=�<PB� A>1DBC>B�H�4=�<D27>B�20B>B<PB�42>=U<82>B�@D4�;>B�34�EP;ED;0B�G8BC4=� 2><1>B� 34� 38E4AB>B� C0<0T>B� H� ?>C4=280B�� 2DH0� DC8;8303� 4B?4285820� 3414� B4A� 2>=>2830� 2D0=3>� B4A40;824�;0�4;4228U=��=�?A8=28?8>�?>34<>B�2;0B85820A;>B�4=�CA4B�6A0=34B�6AD?>B�

����������������������������

�BC>B�2><1>B�B>=�0342D03>B�?0A0�B4A�DC8;8I03>B�4=�?4@D4T>B�;>20;4B��2>=�58=4B�34�4BCD38>�H�2><?>B828U=)84=4=�D=�E>;D<4=�A43D283>��B>=�?D4B�34�5P28;�CA0=B?>AC4��D4=C0=�2>=�3>B�>�CA4B�?0B>B�34�42D0;8I028U=�H

2>=CA>;�34�E>;D<4=��4=�0;6D=>B�20B>B� C0<18Q=� ;;4E0=�2>=CA>;4B�34�38BC>AB8U=�H� A4E4A14A028U=�(D�?>C4=280BD4;4�4BC0A�4=CA4�;>B�384I�H�;>B�E48=C828=2>�E0C8>B�34�B0;830"0�<0H>AR0�34�4BC>B�4@D8?>B�CA01090=�2>=�CA0=B8BC>A4B��H�=>�4B�?>B81;4�4BC01;424A�D=0�3854A4=28028U=�4=CA44;;>B�B46V=�4;�4BC8;>�?0A0�4; @D4�E0H0=�0�B4A�DC8;8I03>B��H0�@D4�B4�CA0C0�34�4@D8?>B�34�4=B0H>��=�;0�586DA0� �?>34<>B�E4A�3>B�2><1>B�34�4BC0B�20A02C4ARBC820B

�������������������������

�=�4BC4�0?0AC03>�B4�4=2D4=CA0=�;0�8=<4=B0�<0H>AR0�34�4@D8?>B�4G8BC4=C4B�4= 4;�<4A203>��0;6D=>B�2>=�D=0B?A4BC028>=4B�1PB820B�H�>CA>B�2>=�38E4AB0B�?>B818;83034B�?0A0�64=4A0A�4542C>B�34�1D4=0�20;8303�"0�?>C4=28034�4BC>B�2><1>B�?D434�B8CD0AB4�4=CA4�;>B�E48=C828=2>�H�;>B�B4C4=C0�E0C8>B��;6D=>B�34�4BC>B�2><1>B�?>B44=42D0;8I03>A4B 6AP582>B��38BC8=C>B�09DBC4B�34�A4E4A14A028U=��20=0;��;8<?8>��H�20=0;�2>=�38BC>AB8U=��4C2�=�4BC0�20C46>AR0�B4�4=2D4=CA0=�4@D8?>B�0�EP;ED;0B�H�0�CA0=B8BC>A4B��BD�0?;82028U=�4B�<DH�0<?;80��H0�@D4�B4DC8;8I0=� C0=C>� 4=� 4=B0H>B� 4=� 6AD?>� 2><>� 4=� 38A42C>B�� H0� @D4� C84=4=� ?>C4=280� BD58284=C4� ?0A0� B4AE8A� 2><>0<?;8582028U=�34�<>=8C>A094��=� ;0� 586DA0� ��E4<>B�3>B�2><1>B�34�4BC4�0?0AC03>��D=> 0�EP;ED;0B�H�>CA>�0CA0=B8BC>A4B

������������������������

(DB�?A4BC028>=4B�B>=�10BC0=C4�?0A42830B�0� ;>B�<>34;>B�34�?>C4=280�<4380��?4A>�<D27>B�34�4;;>B�?>B44=3>B� 20=0;4B� 8=34?4=384=C4B� 34� B>=83>� (D� ?>C4=280� 4BCP� 2><?A4=3830� 4=CA4� ;>B� >274=C0� H� ;>B� 284=C>28=2D4=C0� E0C8>B� �BCP=� 8=38203>B� ?0A0� 0@D4;;>B� <VB82>B� @D4� 02CV0=� B>1A4� 4B24=0A8>B� <PB� >� <4=>B6A0=34B��H�@D4�=>�@D84A4=�20A60A�2>=�E0A8>B�0<?;858203>A4B�?0A0�>1C4=4A�;0�?>C4=280�=424B0A80�@D4�?A428B0=?0A0�BD�<>=8C>A094�"0�586DA0� ��<D4BCA0�D=�<>34;>�34�4BC0�20C46>AR0

�;6D=>B� 2><1>B� B4� 20A02C4A8I0=� ?>A� 4BC0A� 2>=BC8CD83>B� ?>A� 3>B <U3D;>B� 3854A4=2803>B�� 2014I0;� 340<?;8582028U=�H�A428=C>�34�0;C0E>24B��4=4A0;<4=C4�B4�CA0C0�34�0<?;858203>A4B�2>=�D=0�?>C4=280�=>C01;4��34 ���E0C8>B�4=�034;0=C4��H� ;>B� A428=C>B�34�0;C0E>24B�?D434=�A42818A�?>C4=280B�2>=B834A01;4B��BC>B�4@D8?>B?>B44=�D=0�5;4G818;8303�=>C01;4��?4A>�BD�DB>�@D430�A4BCA8=683>�0�;>B�<VB82>B�@D4�=>�C4=60=�?A>1;4<0B�?0A0CA0=B?>AC0A�BD�4@D8?>��H0�@D4�4;�2>=9D=C>�2014I0;���0;C0E>I�BD4;4�B4A�<DH�?4B03>�H�E>;D<8=>B>��586DA0� ��

�(�%��'�*$���)�&�����&%)�$�!��=� 4;� <4A203>� 02CD0;� 4G8BC4=� =D<4A>B>B� <>34;>B� @D4� 2D1A4=� D=0� 60<0� <DH� 2><?;4C0� 34� ?>C4=280B�2>=BCAD830B�2>=�D=>B�2A8C4A8>B�34�20;8303�BD58284=C4B�?0A0�;0B�<PB�38E4AB0B�0?;82028>=4B"0�A>1DBC4I�34�;0�4C0?0�H�;0�2><?0C818;8303�2>=�;0B�2090B�B>=�;>B�502C>A4B�@D4�B4�3414=�34BC020A�2D0=3>�B4CA0C0�34�0<?;858203>A4B�?0A0�38A42C>B��D0=3>�;0�4;4228U=�B4�A4584A4�0�4C0?0B�?0A0�4BCD38>B�4B�2>=E4=84=C44GCA4<0A� ;>B�2A8C4A8>B�34�20;8303��E868;0=3>�@D4� ;>B�?>A24=C094B�34�38BC>AB8U=�B40=�<DH�109>B��0BR�2><>� ;0A4;028U=�B4T0;�AD83>">B�B8BC4<0B�34�A45A864A028U=�3414=�B4A�2>=B834A03>B�2D0=3>�;0�4C0?0�E0H0�0�CA01090A�<D27>�C84<?>�0�BD<PG8<0�?>C4=280��2>B0�@D4�>2DAA4�4=�=D<4A>B0B�0?;82028>=4B�34�38A42C>�=� 2D0;@D84A� 20B>� 4B� 2>=E4=84=C4� @D4� 4;� 0<?;858203>A� 38B?>=60� 34� 28A2D8C>B� 5801;4B� @D4� 02CV4=� ?0A0?A>C464A;>� 2>=CA0� ?>B81;4B� B>1A420;4=C0<84=C>B�� 0BR� 2><>� C0<18Q=� 2>=CA0� ?>B81;4B� 2>AC>28A2D8C>B� 4=� ;>B0;C0E>24B�0�;>B�@D4�4BCP�D=83>�;�0<?;858203>A�2>=BC8CDH4�4;�2>A0IU=�34�2D0;@D84A�B8BC4<0�34�B>=83>��34�BD�1>=303�34?4=34AP�4;�A4BD;C03>6;>10;� 34� D=0� A4?A>3D228U=� <DB820;� *=0� 1D4=0� 4;4228U=� A43D=30AP� ?>B8C8E0<4=C4� 4=� ;0� 20;8303� H� 4=� ;0?>C4=280�B>=>A0�34;�B8BC4<0��=�;0�586DA0� ��B4�<D4BCA0�D=0�4C0?0�34�0;C0�20;8303��0342D030�?0A0�4BCD38>B34�6A01028U=�H�?A>3D228U=��<84=CA0B�@D4� ;0�4C0?0�<>BCA030�4=� ;0� 586DA0����4BCP�?A4?0A030�?0A0� ;0B�3DA0B2>=3828>=4B�@D4�8<?;820�4;�CA0109>�4=�38A42C>

���������������

��AC:?4:A:@D�56�=2�5R4252�56�=@D����2A2C64:6C@?�=2D�AC:>6C2D�>6D2D�A2C2�>6K4=2D�4@?�F?2�42A24:525�564F2EC@� 42?2=6D� 56� 6?EC252�� 6DEF5:252D� A2C2� D6C� FE:=:K252D�6I4=FD:G2>6?E6� 6?�6DEF5:@D� 56�8C2324:W?�&@6I:DES2� 6?E@?46D� ?:?8X?� E:A@� 56� >6D2D� A2C2� 5:C64E@�� =2D� D@?@C:K24:@?6D� BF6� D6� C62=:K232?� 6?� G:G@� D6D6CGS2?�56�D:DE6>2D�>FJ�AC642C:@D��4FJ2�42=:525�7:?2=�56;232�>F49@�BF6�56D62C�=� 56D2CC@==@� E64?@=W8:4@� 56� =2D�>6D2D�56�>6K4=2�92�D:5@��56D56� =2�2A2C:4:W?�56� =@D�AC:>6C@D�>@56=@D�:?46D2?E6�� J�56�DF�4@CC64E2�FE:=:K24:W?�56A6?56�6?�8C2?�A2CE6�6=�3F6?� C6DF=E25@�56�4F2=BF:6C�D:DE6>2�562>A=:7:424:W?�>FD:42=$@D� ERC>:?@D� >6D2� 56� >6K4=2D�� 4@?D@=2� 56� >6K4=2D� @� >6K4=25@C� D6� FE:=:K2?� 2� >6?F5@� 56� >2?6C2:?5:DE:?E2��A2C2�567:?:C�=2D�>:D>2D�F?:5256D�,@52D�6==2D�D6�FD2?�A2C2�4@>3:?2C�J�6?G:2C�D6U2=6D�56�2F5:@56� 5:G6CD2D� AC@4656?4:2D�� BF6� D6� :?D6CE2?� 2� DFD� 4@?64E@C6D� 56� 6?EC252� J� D2=:52�� J� BF6� AF656?� D6C>@5:7:4252D�56�?:G6=�@�56�E@?2=:525�>65:2?E6�6=�>2?6;@�56�=@D�4@?EC@=6D�BF6�A@D66?�F2?5@ D6� 923=2� 56� F?� >6K4=25@C�� D6� C67:6C6� ?@C>2=>6?E6� 2� F?2� F?:525� BF6� ?@� 4@?E:6?6�>QD� 56� �42?2=6D�56�6?EC252��4F2?5@�=2�F?:525�4@?E:6?6�F?�>2J@C�?X>6C@�56�6?EC252D��?@D�D@=6>@D�C676C:C�2�6==24@>@�F?2�>6D2�@�F?2�4@?D@=2�56�>6K4=2D$2D�2A=:424:@?6D�24EF2=6D 56�=2D�>6D2D�56�>6K4=2�D@?�>FJ�?F>6C@D2D��4@?4:6CE@D�6?�5:C64E@��8C2324:@?6D6?� 6DEF5:@�� AC@5F44:@?6D� 56� C25:@� J� E6=6G:D:W?�� A@DEAC@5F44:W?� 56� GS56@�� D@?:5@� A2C2� A6=S4F=2D�� D@?2=8F?2D�56� =2D�FE:=:5256D�ACQ4E:42D�5@?56� =2D�>6D2D�D6�9246?� :?DFDE:EF:3=6D�+F�4@?@4:>:6?E@�3QD:4@�6DAF6D�:>AC6D4:?5:3=6�A2C2�4F2=BF:6C�AC@76D:@?2=�56�=2�:>286?�J�6=�D@?:5@

�-�&,�+�����$"%�&,��"P&(@C�6=�?@>3C6�2=8F:6?�A@5CS2�DFA@?6C�BF6�F?2�7F6?E6�56�2=:>6?E24:W?��(@H6C�+FAA=J��6D�F?2�F?:525�BF6AC@A@C4:@?2�6?6C8S2�6=R4EC:42� A6C@�6DE@�?@�6D�56=�E@5@�6I24E@��?@C>2=>6?E6�D@?�=2D�4@>A2US2D��6=R4EC:42D=2D�BF6�AC@A@C4:@?2?� =2� 4@CC:6?E6��=�A2A6=�56� =2D� 7F6?E6D�56�2=:>6?E24:W?�6D�6=�56�4@?G6CE:C� =2�4@CC:6?E62=E6C?2�BF6�DF>:?:DEC2�=2�C65�6=R4EC:42��6?�4@CC:6?E6�4@?E:?F2�BF6�A6C>:E2�F?�7F?4:@?2>:6?E@�4@CC64E@�56�=2F?:525�2�=2�BF6�2=:>6?E2��6?�RDE6�42D@�=2�>6D2�56�>6K4=2D�F2?5@� =2� >6D2� 6D� 56� F?� E2>2U@� 4@?D:56C23=6�� =2� 7F6?E6� 56� 2=:>6?E24:W?� DF6=6� 4@?DE:EF:C� F?2� F?:5252A2CE6��4F2?5@�=2�>6D2�?@�6D�56�8C2?56D�AC@A@C4:@?6D�DF6=6�==6G2C�=2�7F6?E6�56�2=:>6?E24:W?�6?�=2�>:D>242C42D2�=�7F?4:@?2>:6?E@�AC64:D@�56�F?2�7F6?E6�56�2=:>6?E24:W?�6D�56E6C>:?2?E6�A2C2�BF6�=2�F?:525�2�=2�4F2=�6DEQD:CG:6?5@�4@CC:6?E6�4@?E:?F2�7F?4:@?6�4@CC64E2>6?E6��56�29S�G:6?6�DF�:>A@CE2?4:2

�?�=2�7:8FC2� �D6�>F6DEC2�F?�5:28C2>2�56�3=@BF6D�56�F?2�7F6?E6�56�2=:>6?E24:W?�C68F=252��?�AC:>6C�=F82CD6�D:EX2�6=� EC2?D7@C>25@C��BF6�42>3:2�6=�G2=@C�56� =2�4@CC:6?E6�2=E6C?2�C64:3:52�56� =2�C65�6?��@EC@�G2=@C�564@CC:6?E6�2=E6C?2�>2D�2564F25@�A2C2� =2� 7F?4:W?�56� =2�>6D2���4@?E:?F24:W?�D6�D:EX2�F?� C64E:7:425@C��BF642>3:2� =2� 4@CC:6?E6� 2=E6C?2� 6?� 4@CC:6?E6� 4@?E:?F2� AF=D2?E6�� 6D� 564:C� ?@� =:?62=� -?� 7:=EC@� DF2G:K2� =2D

AF=D24:@?6D�A2C2� @3E6?6C� F?� G@=E2;6� 56� D2=:52� 56� 4@CC:6?E6� 4@?E:?F2�>FJ� =:?62=�� BF6�6D� 6?G:25@�924:2� =2>6D2

.�*"�����+����%�+�+����%�1�$��=�4:C4F:E@�56�F?2�>6D2�6D��3QD:42>6?E6��F?2�C65�56�C6D:DE6?4:2D�BF6�4@?E:6?6�2E6?F25@C6D��5:D6U252�567@C>2�BF6�A6C>:E2� =2� 4@>3:?24:W?�56�5:DE:?E2D�D6U2=6D�56�2F5:@�A2C2� 7@C>2C�F?2�D6U2=� 4@>AF6DE2�$2D7F6?E6D� 56� 6DE2� D6U2=� AF656?� D6C� 8C2324:@?6D� >28?RE:42D�� 5:D4@D�� D2=:52D� 56� 4@>3@D�� >:4CW7@?@D�� @4F2=BF:6C�4@>3:?24:W?�6?EC6�6==2D��=2�>6D2�D6�4@?64E2?�E@52D�=2D�=S?62D�J�>:4CW7@?@D�BF6�6764EX2?�=2�E@>2�56=�D@?:5@��J2�D62�5:C64E2>6?E6@�2�EC2GRD�56�F?2�>2?8F6C2�56�D6U2=6D $2�7F?4:W?�3QD:42�56�=2�>6D2�6D�4@?EC@=2C�6=�G@=F>6?�56�E@5@D�=@D:?DECF>6?E@D�J�G@46D�BF6�:?E6CG:6?6?�6?�6=�6D46?2C:@��@�6?�6=�6DEF5:@�56�8C2324:W?��A@C�D6A2C25@��J�2;FDE2C=2�E@?2=:525�A2C2�4252�6?EC252�A@C�>65:@�56�F?@D�4@?EC@=6D�56�64F2=:K24:W?-?2�D6C:6�56�6=6>6?E@D�BF6�>@5F=2?�6=�D@?:5@�� E2=6D�4@>@� =:>:E25@C6D��4@>AC6D@C6D��6BF:A@D�56�64@�JC6G6C36C24:W?�� J� @EC@D� AF656?� D6C� :?D6CE25@D� 6?� 4:6CE@D� AF?E@D� 56=� 4:C4F:E@� >6K4=25@C�� J� AF656?� D6C4@?EC@=25@D�6?�G@=F>6?�56D56�=2�>:D>2�>6D2

+68X?� =2� 7F?4:W?�ACQ4E:42�2� =2�BF6�D6�56DE:?6�F?2�>6D2�56�>6K4=2D�� E6?5CQ�F?2�4@?7:8FC24:W?�3QD:42�56F?2D�42C24E6CSDE:42D�56E6C>:?252D��QD:42>6?E6�D6�AF656?�5:DE:?8F:C�EC6D�E:A@D�56�4@?7:8FC24:@?6D��>6D2DA2C2�6DEF5:@D��>6D2D�A2C2�>@?:E@C6D�56�6D46?2C:@��J�>6D2D�A2C2�6=�D:DE6>2�AC:?4:A2=�6?�=@D�5:C64E@D��DE6X=E:>@� E:A@� 56�>6D2� E:6?6�X?:42>6?E6� 5@D�@� 4F2EC@� 42?2=6D� 56� D2=:52�� 4252�F?@�56� =@D�4F2=6D�D6�5:C:86924:2�=2D�6E2A2D�BF6�2=:>6?E2?�2�=@D�2=E2G@46D�D:EF25@D�2�2>3@D�=25@D�56=�6D46?2C:@���:8FC2���

$2D�>6D2D�A2C2�>@?:E@C6D� E:6?6?�F?�?X>6C@� G2C:23=6� 56� D2=:52D�� ?@C>2=>6?E6� 6?EC6� �� J� ��� J� 56� 4252D2=:52�D6�6?GS2�=2�D6U2=�BF6�C64:36?�=@D�2=E2G@46D�56�6D46?2C:@��56DAFRD�56�D6C�2>A=:7:4252�6?��A@E6?4:2��:8���

$2D�>6D2D�56�6DEF5:@� E:6?6?�?@C>2=>6?E6� E2?E@D� 42?2=6D� 56�D2=:52�4@>@�A:DE2D�56�8C2324:W?�A@D66�6=>28?6E@7W?�>F=E:A:DE2D���:8FC2���,2?E@� 6?� =2D� >6D2D� 56� 5:C64E@� 4@>@� 6?� =2D� 56� 6DEF5:@�� D6� AF656� 6764EF2C� F?2� 5:DE:?4:W?� 6?� DF4@?7:8FC24:W?�3QD:42��2E6?5:6?5@�2�=2�A@D:3:=:525�BF6�E:6?6�=2�D6U2= 6?�D6C�28CFA252�6?�F?2�7@C>2�F��@EC2,6?6>@D�A@C�F?�=25@�=2D�>6D2D�4@?�DF38CFA@D��J�A@C�6=�@EC@�=2D�>6D2D��'?�=:?6�

$2D� >6D2D� 4@?� DF38CFA@D� E:6?6?� F?@D� 42?2=6D� 6DA64S7:4@D� 5@?56� D6� AF656?� 6?G:2C� =2D� D6U2=6DAC@4656?E6D�56�2=8F?@D�42?2=6D�56�6?EC252��28CFAQ?5@=2D�D68X?�?F6DEC2�4@?G6?:6?4:2�6?�F?2�X?:42�D6U2=�BF6�=F68@�D6�6?GS2�924:2�=@D�42?2=6D��>2DE6C��56�D2=:52��DE@D�42?2=6D�:?E6C>65:@D�C64:36?�6=�?@>3C6�5642?2=6D� 56� DF38CFA@� �DS�� A@C� 6;6>A=@�� D:� D6� 6DEQ� D@?@C:K2?5@� 2� F?� 8CFA@� 56� D2=D2� 6?� F?� 4@?4:6CE@�A@56>@D�6?G:2C�E@5@D�=@D�42?2=6D�BF6�C64:32?�D6U2=�56�:?DECF>6?E@D�56�G:6?E@�924:2�F?�DF38CFA@��J�E@5@D=@D�BF6�C64:32?� :?DECF>6?E@D�56�A6C4FD:W?�924:2�@EC@�DF38CFA@�'EC@�DF38CFA@�AF656�6DE2C�@4FA25@�A@C=2D� G@46D�� @EC@� A@C� =2D� 4F6C52D� J� @EC@� A@C� =@D� E64=25@D� �6� 6DE2� 7@C>2�� 2=� >2C86?� 56� =@D� ?:G6=6D� J64F2=:K24:@?6D�BF6�C64:32?� =@D� :?DECF>6?E@D�A@C�D6A2C25@��D6CQ�A@D:3=6�A2C2�6=� ER4?:4@�G2C:2C�6=�G@=F>6?56�E@5@�F?�8CFA@�:?DECF>6?E2=�FE:=:K2?5@�F?�DW=@�4@?EC@=�56D=:K2CE6��@��7256C�$2D�>6D2D�4@?�42?2=6D�6?�=S?62��'?�=:?6���A@D66?�6=�>:D>@�?X>6C@�56�42?2=6D�56�D2=:52�4@>@�56�6?EC252�J�F?�>:D>@�42?2=�AF656�9246C�=2D�7F?4:@?6D�56�42?2=�56�6?EC252�@�56�DF38CFA@�:?5:DE:?E2>6?E6�+@?�2=8@>QD�4@>A=:4252D�56�FE:=:K2C��6?�AC:?4:A:@��BF6� =2D�>6D2D�4@?�DF38CFA@D�7:;@D��A6C@�DF�2>A=:2�G6CD2E:=:525=2D�4@?G:6CE6�6?�=2D�72G@C:E2D�A2C2�E@5@�E:A@�56�2A=:424:@?6D�6?�6DEF5:@+6�E:6?56��4252�5S2�>QD��2�=2�FE:=:K24:W?�56�=2D�>6D2D�>@5F=2C6D��J2�BF6�A@D:3:=:E2?�:C�2>A=:2?5@��D68X?�=2D?646D:5256D��6=�?X>6C@�56�42?2=6D�5:DA@?:3=6D�$@D�42?2=6D�BF6�D6�AF656?�:?E68C2C�6?�6DE2D�>6D2D��2�=242CE2�� D@?� 56� 4F2=BF:6C� E:A@�� 56� 6?EC252�� 56� DF38CFA@�� 56� D2=:52�� J� E2>3:R?�56�>@?:E@C� J�>2DE6C��DE2D>6D2D�A6C>:E6?�@3E6?6C�=2�4@?7:8FC24:W?�:5W?62�A2C2�4252�FDF2C:@��J�2>A=:2C=2�4F2?5@ 6==@�9282�72=E2

$'+�%�1�$��'*�+.2C:2D� 4@>A2US2D� 723C:42?�>@56=@D� 56�>6K4=25@C� BF6�AF656?� D6C�>@?E25@D�6?� C24<D� 56� ���� A2C2� 2DS724:=:E2C� DF� EC2?DA@CE6�� 2F?BF6� E2>3:R?�D6�5:DA@?6�56=� ESA:4@�>6K4=25@C� E:A@�4@?D@=2��BF6�?@�AC64:D2�D6C>@?E25@� 6?� C24<� �=� FD@� 56� =@D� >6K4=25@C6D� 6D� >FJ� 6IE6?D@�� J2� BF6� D6� FE:=:K2� 6?� =@42=6D� A6BF6U@D�6D4F6=2D�6�:?DE:EFE@D��2F5:@G:DF2=6D��D:DE6>2D�>F=E:>65:2��J�E2>3:R?�2�G646D�4@>@�2FI:=:2C�56�=2�4@?D@=2�56>6K4=2D�AC:?4:A2=$@D�42?2=6D�56�6?EC252�56�F?�>6K4=25@C�24@DEF>3C2?�2�E6?6C�5@D�@�EC6D�4@?EC@=6D�56�E@?@�=:?62=6D��A6C@?@� DF6=6?� ==6G2C� 64F2=:K25@C6D� A2C2>REC:4@D� �?� 2=8F?@D� 42D@D� AF656?� 5:DA@?6C� 56� F?@� @� 5@D� 42?2=6D2FI:=:2C6D�A2C2�6=�6?GS@�56� =2� D6U2=�924:2�6764E@D�@�A2C2�6=�>@?:E@C2;6��A6C@�6?� =2�>2J@CS2�56�42D@D�?@5:DA@?6?�56�6DE@D�6?GS@D�F2?5@�D6�FD2?�4@>@�2FI:=:2C6D�56�=2�>6D2�AC:?4:A2=��A2C2�2F>6?E2C�6=�?X>6C@�56�6?EC252D�5:DA@?:3=6D�4@?G:6?6� BF6� =@D� :?DECF>6?E@D� BF6� D6� 6?GS2?� 2� F?� >6K4=25@C� D62?� 56� =2� >:D>2� ?2EFC2=6K2�� A2C2� ?@56D6BF:=:3C2C�=2�C6DAF6DE2�4@?;F?E2�56=�D:DE6>2��J�A2C2�D:>A=:7:42C�DF�FE:=:K24:W?�ACQ4E:42�(@C�6;6>A=@��D:�D66DEQ�D@?@C:K2?5@�F?�8CFA@�56�C@4<�J�=2D�6?EC252D�5:DA@?:3=6D�6?�=2�>6D2�AC:?4:A2=�BF652?�4@CE2D��D6�AF656:?4@CA@C2C�F?�>6K4=25@C�56���@� ��42?2=6D�56�6?EC252�J�6?G:2C=6�E@5@D =@D�>:4C@D�BF6�42AE6?�6=�D@?:5@�56=2�32E6CS2�56�A6C4FD:W?��?�6=�>6K4=25@C�D6�AF656?�6BF:=:3C2C�E@5@D�=@D�42?2=6D�56�=2�32E6CS2��J�6?G:2C�=2

>6K4=2� 924:2� F?@� 56� =@D� DF38CFA@D� 56� =2� >6D2� AC:?4:A2=� �?� =2� 7:8FC2� �� D6� >F6DEC2� F?� >@56=@� 56>6K4=25@C�4@?G6?4:@?2=�=8F?@D� >6K4=25@C6D� 6DEQ?� A6?D25@DA2C2�D6C�FE:=:K25@D�A@C�=@D�>XD:4@D�D@3C66=� 6D46?2C:@� �DS� F?� E64=:DE2� @� F?8F:E2CC:DE2� BF6� 5FC2?E6� F?� 4@?4:6CE@42>3:6� G2C:2D� G646D� 56� :?DECF>6?E@�AF656�2;FDE2C�A@C�D:�>:D>@�6=�G@=F>6?�J6=� E@?@� 56� 4252� F?@�� 6;6C46� F?� >2J@C4@?EC@=� D@3C6� DF� >XD:42� J� 56D42C82� 2=ER4?:4@� 56� =2� >6D2� AC:?4:A2=� 56� :C4@?>FE2?5@� 6?EC252D� 4252� G6K� BF642>3:2�56�:?DECF>6?E@

%P�-$'�����&,*���$2� D:EF24:W?� 56� =@D� 4@?EC@=6D� 6?� =2D>6D2D� 56� >6K4=2� D:8F6� D:6>AC6� F?2>:D>2� A2FE2� J�� 3QD:42>6?E6�� AF6565:G:5:CD6� 6?� 4F2EC@� 8CFA@D�� 42?2=6D� 566?EC252��C6E@C?@D�J�2FI:=:2C6D��42?2=6D�56>@?:E@C��J�8CFA@D�56�D2=:52�$@D�>W5F=@D56� 6?EC252� 4@?7@C>2?� =2� D6U2=AC@4656?E6�56=�:?DECF>6?E@�2?E6D�56�D6C

>6K4=252��J�?@C>2=>6?E6�D6�D:EX2?�6?�=2�A2CE6�:KBF:6C52�56=�E23=6C@�56�4@?EC@=$2�D6U2=�AC@4656?E6�56�F?�>:4C@�@�56�F?2�=S?62��BF6�AF656�AC@4656C�5:C64E2>6?E6�56�F?�:?DECF>6?E@�@�56F?�AC@46D25@C��6D�=2�BF6�EC2E2�6=�42?2=�56�6?EC252��F2?5@�D6�EC2E2�56�F?�>:4CW7@?@�6D��4@?G6?:6?E6�4@?E2C4@?�6?EC252D�32=2?46252D��A2C2�6=:>:?2C�A@D:3=6D� :?E6C76C6?4:2D��J�4@?EC@=2C�6=�?:G6=�56� =2� :>A652?4:2�566?EC252�2=�42?2=��BF6�5636�D6C�A@C�=@�>6?@D�56�����@9>:@D�764EF2?5@� F?� C64@CC:5@� G:DF2=� A@C� F?� >W5F=@� 56� 6?EC252�� 56D56� =2� A2CE6� DFA6C:@C� 92DE2� =2� :?76C:@C�A@56>@D�92==2C�=@D�D:8F:6?E6D�6=6>6?E@D�56�4@?EC@=��� ��� �� ���"'#!� �AC6E2?5@� 6DE6� 3@EW?� D6� DF>:?:DEC2� =2� 4@CC:6?E6� ?646D2C:2� A2C2� BF6� 7F?4:@?6?� =@D>:4CW7@?@D�BF6�AC64:D2?�2=:>6?E24:W?��A92?E@>���2�EC2GRD�56�=2D�E6C>:?2=6D���J���56=�4@?64E@C�0$*����+6�24E:G2�F?�2E6?F25@C�BF6�C65F46�6=�?:G6=�56�=2�6?EC252�%:4��"�� �=� AF=D2C� 6DE6� 4@?>FE25@C� D6� 23C6� 6=� 42?2=� 2� =2� D6U2=� BF6� 6?EC2� A@C� 6=� 4@?64E@C� 56� =S?62�56D4@?64E2?5@�=2�6?EC252�56=�>:4C@ ��"�(6C>:E6�6=�2;FDE6�56�=2�82?2?4:2��E2?E@�A2C2�=2�6?EC252�56�=S?62�4@>@�A2C2�=2�56�>:4CW7@?@���&����)�%&��"?G:6CE6�=2�72D6�56�=2�D6U2=�56�6?EC252#"'%# �&������(� �,���2"��DE@D�4@?EC@=6D�G2CS2?�56�F?2�>6D2�2�@EC2�A6C@�6?�=2�>2J@CS2�56�>@56=@D�D@?56�E:A@�A2C2>REC:4@�@�D6>:A2C2>REC:4@��F?�>2?5@�A6C>:E6�6D4@86C�=2�7C64F6?4:2�46?EC2=�D@3C6�=2�BF6�D6�G22�24EF2C��J�6=�@EC@�A6C>:E6�C62=K2C�@�2>@CE:8F2C�92DE2� ��5��2�A2CE:C�56�=2�7C64F6?4:2�6D4@8:52�!2J�BF6�D6C>FJ�ACF56?E6�6?�6=�FD@�56�6DE@D�4@?EC@=6D��J2�BF6�>2=�FE:=:K25@D�AF656?�==682C�2�567@C>2C�?@E23=6>6?E6�6=D@?:5@ @C:8:?2=���� �('� �DE6� 4@?EC@=� D:CG6� 4F2?5@� ?@� D6� 56D66� 64F2=:K2C� 6=� D@?:5@$@D� 4@?64E@C6D� 56� BF6� 5:DA@?6?@C>2=>6?E6�F?�42?2=�56�6?EC252�D@?�=@D�BF6�D6�>6?4:@?2?�2�4@?E:?F24:W?���"���"���DE2�6?EC252�6D�56�7@C>2E@�;24<�56� �����6DEQ�AC6A2C252�A2C2�C64:3:C�=2�D6U2=�5:C64E2>6?E6�56D56�F?E64=25@�6=64ECW?:4@�@�56D56�=2�D��=�AF=D2C=@�=@D�4@?EC@=6D�56�64F2=:K24:W?�BF652?�2?F=25@D�J�=2�D6U2=�A2D256�=2C8@�,2>3:R?�D:CG6�A2C2�4@>A2C2C�6=�D@?:5@�64F2=:K25@�4@?�6=�BF6�?@�=@�6DEQ

��"�� �"�� �DE2� 6?EC252� 6D� 56� 7@C>2E@� ;24<� 56 ����� 6DEQ� AC6A2C252� A2C2� C64:3:C� =2� D6U2=5:C64E2>6?E6� 56D56� F?� E64=25@� 6=64ECW?:4@� @56D56� =2� D� �=� AF=D2C=@� =@D� 4@?EC@=6D� 5664F2=:K24:W?�BF652?�2?F=25@D�J�=2�D6U2=�A2D256� =2C8@� ,2>3:R?� D:CG6� A2C2� 4@>A2C2C� 6=D@?:5@�64F2=:K25@�4@?�6=�BF6�?@�=@�6DEQ�(*� ��%�&�� �DE@D� A@E6?4:W>6EC@D� 6?GS2?� =2D6U2=� AC6D6?E6� 6?� 6=� 42?2=� 924:2� =2� D2=:522FI:=:2C� 4@CC6DA@?5:6?E6�� 923:EF2=>6?E6� A2C2D6C�AC@46D252��=�4@?>FE25@C�(C6A@DE�7256C�BF6� DF6=6� 6?4@?EC2CD6� 2=� =25@� 56� =@DA@E6?4:W>6EC@D��D:CG6�A2C2�BF6�6=�6?GS@�56� =2D6U2=�D6�9282�2?E6D�@�56DAFRD�56�DF�A2D@�A@C6=�>2?5@�56D=:K2CE6��@��72FE@C���"#%�!��� �D� 6BF:G2=6?E6� 2=� 4@?EC@=� 5632=2?46� 56� F?� 2>A=:7:425@C� 9:7:� �?4@>3:?24:W?� 4@?� =@D� 4@?>FE25@C6D� 562D:8?24:W?�� 2;FDE2� =2� 42?E:525� 56� D6U2=6?G:252� 924:2� 6=� 42?2=� 56C649@� J� 924:2� 6=:KBF:6C5@����� �?GS2� =2� D6U2=� 56=� 42?2=� 924:2� 6=� 8CFA@>@?:E@C��J�DF�?:G6=�AF656�D6C�G:DF2=:K25@�6?�6=.->6EC@�@�6?�=@D�:?5:425@C6D�2�$���('�� &@C>2=>6?E6� E:6?6� F?2� :?5:424:W?=F>:?@D2� BF6� ?@D� :?5:42� D:� 6=� 42?2=� 6DEQ@A6C2E:G@��24EX2�4@>@�:?E6CCFAE@C�56=�42?2=#"!('��#%�&� ��� �&��"���2"�� �F2?5@� D@?AF=D25@D� 6?GS2?� =2� D6U2=� 56=� 42?2=� 924:2� =@D42?2=6D� �@� DF38CFA@D�� :?5:425@D� 6?� 42524@?>FE25@C��DS��D:�D6�AF=D2�6=�4@?>FE25@C�����J�6=�4@?EC@=�A2?@CQ>:4@�6DEQ�6?�6=�46?EC@�� =2D6U2=�56=�42?2=�D6�C6A2CE:CQ�A@C�:8F2=�6?EC6�=@DDF38CFA@D� �� J� �� +:� D6� 8:C2� 6=� 4@?EC@=A2?@CQ>:4@� 924:2� =2� :KBF:6C52�� E@52� =2� D6U2=56=�42?2=�A2CE:CQ�924:2�6=�DF38CFA@������%� �DE6� >2?5@� 56D=:K2CE6� 6D� 6=� BF6� D66?4F6?EC2� 6?� =2� A2CE6� >QD� ACWI:>2� 56=@A6C25@C�� J� D6� EC2E2� 56� F?� A@E6?4:W>6EC@� 562=E2� AC64:D:W?� 42=:3C25@� 6?� 564:36=:@D�4EF2=>6?E6�A6C>:E6�2F>6?E2C�=2�82?2?4:2�6?F?@D� ��5��D:�D6�D:EX2�6?�=2�A2CE6�DFA6C:@C�56=C64@CC:5@�� J� 2E6?F2C� =2� D6U2=� A@C� 4@>A=6E@� D:6DEQ�6?�6=�6IEC6>@�:?76C:@C

$@D� 4@?64E@C6D� 56�BF6�5:DA@?6�?@C>2=>6?E6F?�42?2=�56�6?EC252�D@?�=@D�BF6�D6�>6?4:@?2?2�4@?E:?F24:W?���"�� �"� �DE2� 6?EC252�� 923:EF2=>6?E6� 6?

7@C>2E@�;24<�56�LY��6DEQ�AC6A2C252�A2C2�C64:3:C�=2�D6U2=D�5:C64E2>6?E6�56D56�F?�E64=25@�6=64ECW?:4@�@�56D56=2�D2=:52�56�D6U2=�56�F?�4@>3@�$2�:>A652?4:2�923:EF2=�6DEQ�2=C6565@C�56�=@D� ��#@9>:@D��2DS�BF6�E2>3:R?6D�A@D:3=6�=2�4@?6I:W?�2�6DE2�6?EC252�56�F?�>:4CW7@?@�56�2=E2�:>A652?4:2�����"$('���D�=2�4@?6I:W?�5@?56�5636?�4@?64E2CD6�=@D�>:4CW7@?@D�56�32;2�:>A652?4:2��=@D�>QD�923:EF2=6D��6=�4@?64E@C�6D�56�E:A@�0$*�32=2?4625@��J�DF�:>A652?4:2�56�6?EC252�6DEQ�6?���#@9>:@D��2AC@I:>252>6?E6��$���"���DE2�6?EC252�6DEQ�5:DAF6DE2�A2C2�:?D6CE2C�F?�4@?64E@C�E:A@�;24<�BF6�==6G6�2�=2�>6D2�=2�D6U2=�56�F?256�=2D�A:DE2D�56 F?�>28?6E@7W?�>F=E:A:DE2D�+F�:>A652?4:2�6DEQ�2=C6565@C�56�=@D����#@9>:@D��'(%"�+���"� �F2?5@�D6�FE:=:K2?�6DE@D�4@?64E@C6D��=2�D6U2=�56=�42?2=�6D�56DG:252 ?@C>2=>6?E6�A2C2�D6CAC@46D252� 56� DF� EC2J64E@C:2� ?@C>2=�� J� D2=6� A@C� 6=� 4@?64E@C� 56� 6?GS@� �+6?5�� A2C2� G@=G6C� A@C� 6=� 4@?64E@C*6EFC?� &@C>2=>6?E6� D6� 2AC@G6492� 6DE6� :?D6CE@� A2C2� 4@=@42C� F?� 4@>AC6D@C�� F?2� AF6CE2� 56� CF:5@�� @� F?

64F2=:K25@C�6IE6C?@�&@�D6�FE:=:K2�A2C2�2U25:C�6764E@D�2� =2�D6U2=��J2�BF6�A2C2�6==@6D�>6;@C� FE:=:K2C� =2D� =S?62D�2FI:=:2C6D�� J� 2DS� 5:DA@?6C� 56� =2� D6U2=� D:?�6764E@�6?�6=42?2=�J�56�=2�D6U2=�AC@46D252�A@C�=2�6?EC252�2FI:=:2C

%P�-$'�%�+,�*+6�D:EX2�6?�=2�A2CE6�56C6492�56=�E23=6C@�56�=2�>6D2��J�DF�4@?7:8FC24:W?�6D�G2C:23=6�56A6?5:6?5@� 56� =2� FE:=:525� ACQ4E:42� 2� BF6� D6� 56DE:?6� =2� >6D2� 6?� 4@?4C6E@-DF2=>6?E6� 4@?E:6?6� =@D� 4@?EC@=6D� 56� E2=<324<�� 56D56� 5@?56� 6=� @A6C25@C� 56� =2>6D2�AF656�923=2C�2�EC2GRD�56�=@D�2=E2G@46D�56�>@?:E@C��A2C2�52C�:?DECF44:@?6D�2=@D�>XD:4@D�4F2?5@�?@�AF652�9246C=@�56�G:G2�G@K�=�?X>6C@�56�4@?EC@=6D�56D=:K2?E6D �7256CD��BF6�==6G2�6DE6�>W5F=@�56A6?56CQ�56�=27F?4:W?�4@?4C6E2�56�=2�>6D2��DS��F?2�>6D2�A2C2�>@?:E@C6D�A@5CQ�:?4@CA@C2C�6?EC6��J� ��7256CD��F?2�>6D2�A2C2�6DEF5:@�56�8C2324:W?�@�A2C2�5:C64E@�E6?5CQ�6?EC6���J��7256CD��>26DEC@D��DE6�>W5F=@�E2>3:R?�4@?E:6?6�6=�A@E6?4:W>6EC@�BF6�4@?EC@=2�6=�?:G6=�56�D2=:52�56=@D�2FC:4F=2C6D

%P�-$'����+-� *-('%F492D� >6D2D� 56� 5:C64E@� 4@?E:6?6?� F?� >W5F=@� BF6� A6C>:E6� 6=� 4@?EC@=� 56� F?DF38CFA@�$2�D6U2=�==682�2�6DE6�>W5F=@�2�EC2GRD�56�=@D�42?2=6D�:?E6C?@D��3FD6D��56=2� AC@A:2� >6D2�� 56D56� =@D� 42?2=6D� 56� 6?EC252�� AF=D2?5@� 6=� 3@EW?� 56� 6?GS@4@CC6DA@?5:6?E6� &@� @3DE2?E6�� 6DE@D� >W5F=@D� AF656?� 5:DA@?6C� 56� 4@?64E@C6D�"?D6CE�� BF6� AF656?� FE:=:K2CD6� 56� 7@C>2D� 5:G6CD2D� (F656� 6?G:2CD6� =2� D6U2=� 56=DF38CFA@� 7F6C2� 56� =2�>6D2�A2C2� D6C� AC@46D252�� J� =F68@� C6E@C?2C=2�A@C�6=�>:D>@DF38CFA@�,2>3:R?�AF656�6?G:2CD6�924:2� =2D�6?EC252D�56� =@D�42?2=6D�56�>@?:E@C>65:2?E6�F?�4@?64E@C�2FI:=:2C�56�D2=:52�+:�DW=@�D6�FE:=:K2� =2�4@?6I:W?��*6EFC?��D6AF656�FE:=:K2C�6DE6�>W5F=@�4@>@�F?�42?2=�56�6?EC252 DFA=6>6?E2C:@��4F2?5@�928272=E2

%P�-$'����+�$"���%'&",'*$2�2A2C:6?4:2�56�F?�>W5F=@�56�D2=:52�>@?:E@C�AF656�D6C�6=�BF6�D6�@3D6CG2�6?�=27:8FC2���$@D�4@?EC@=6D�:?5:425@D�4@?�=2�=6EC2���D@?�=2D�D2=:52D�56�=@D�D6:D�3FD6D2FI:=:2C6D� �6D56� 6==2D� D6� 6?GS2� =2� D6U2=� BF6� AF656� FD2CD6� A2C2� 2=:>6?E2C� F?2>A=:7:425@C� 56� 2FC:4F=2C6D�� @� 3:6?� �A@C� 6;6>A=@�� F?2� F?:525� 56� C6G6C36C24:W?$@D�4@?>FE25@C6D�4@?� =2� :?D4C:A4:W?���$� ��7E6C� 7256C� =:DE6?��D:CG6?�A2C2�BF6�6=@A6C25@C�AF652�6D4F492C� =2�42?E:525�56�D6U2=�BF6�D6�6?GS2�924:2� =@D�>XD:4@D�A@C�>65:@�56�2FC:4F=2C6D��@�3:6?�4@?@46C�4FQ=6D�D@?�=@D�:?DECF>6?E@D�BF6�G2?�2D6C�6?G:25@D�924:2�2=8X?�AC@46D25@C��A@C�4252�F?2�56�=2D�D2=:52D�56�2FI:=:2C�$2D6U2=�BF6�==682�2�4252�8CFA@�2FI:=:2C�AC@G:6?6�56�=@D�4@?EC@=6D�56�6?GS@ D:EF25@D6?�=@D�42?2=6D�56�6?EC252��J�G:2;2�A@C�6=�:?E6C:@C�56�=2�>6D2��2�EC2GRD�56�=@D�3FD6D4@CC6DA@?5:6?E6D

�+(��"�"���"'&�+����-&��%�+�����%�1�$�+$2�56D4C:A4:W?�56�F?2�>6D2�D:6>AC6�9246�C676C6?4:2�D@3C6�6=�?X>6C@�56�42?2=6D56� 6?EC252� 56�BF6�5:DA@?6�� 2DS� 4@>@�56=� ?X>6C@�56� D2=:52D� 56� DF38CFA@D�+:F?2�>6D2�D6�AC6D6?E2�4@?�F?�D:DE6>2��������D:8?:7:42�BF6�A@D66����42?2=6D�566?EC252����DF38CFA@D��J���D2=:52D�>2DE6C-?2�>6D2�BF6�D6�2?F?4:6�4@>@� ���E6?5CQ� ��42?2=6D�56�6?EC252�J���42?2=6D56�DF38CFA@��BF6�92CQ?�=2D�7F?4:@?6D�56�D2=:52�>2DE6C�=8F?2D�>6D2D�D6�AC6D6?E2?�4@?�F?�D:DE6>2�BF6�4@?E:6?6���D2=:52D�>26DEC2D�A@C� 6;6>A=@� ��� &@C>2=>6?E6� D6� EC2E2� 56� F?2� D2=:52� 6?� >@?@� BF6� AF656FE:=:K2CD6� A2C2� 7:?6D� 5:G6CD@D�� 4@>@� AF656� D6C� 2=:>6?E2C� F?� D:DE6>2� 562>A=:7:424:W?� 46?EC2=�� BF6� C67F6C46� 2� =@D� D:DE6>2D� 56� 2=E2G@46D� D:EF25@D� 2� =@D=25@D�56=�6D46?2C:@-?2�>6D2��� ����D6CQ�F?�>@56=@�A2C2�D6C�FE:=:K25@�6?�6DEF5:@��J2�BF6�==6G2CQ���42?2=6D�56�6?EC252�� ��DF38CFA@D��J����C6E@C?@D�56�A:DE2��252�F?@ 56�6DE@DC6E@C?@D� 4@CC6DA@?56CQ� 2� F?2� A:DE2� 56� 8C2324:W?� 56=� >F=E:A:DE2D� 2� BF6� 6DER4@?64E25@

$2D� >6D2D� 6?� =S?62� 5:DA@?6?� 56=� >:D>@� ?X>6C@� 56� 42?2=6D� 56� 6?EC252� BF6� 56� 42?2=6D� 56� D2=:52� J>@?:E@C:K24:W?�� D:6?5@� A@D:3=6� 4@?G6CE:C� F?� 42?2=� 56� 6?EC252� 6?� DF38CFA@�� 4F2?5@� D62� AC64:D@� $@D4@?EC@=6D�BF6� :?4@CA@C2?�6DE2D�>6D2D�D@?��3QD:42>6?E6��D:>:=2C6D�2� =@D�56D4C:E@D�2?E6C:@C>6?E6�+:�F?2>6D2�4@?E:6?6� =2�6DA64:7:424:W?� � ���D6� EC2E2CQ�A@D:3=6>6?E6��56�F?�>@56=@�BF6� EC232;2��'?� =:?6���J2BF6�4@?E2CQ�4@? ��42?2=6D�56�6?EC252�J� ��56�D2=:52��256>QD�56�=@D���42?2=6D�56=�>W5F=@�>26DEC@�� ���#"�&�&�0� �%(��#� &@�AF656�9236C�F?2�X?:42�6DA64:7:424:W?�56�=2�C6=24:W?�D6U2=�CF:5@�6?�6=�42EQ=@8@56�F?2�>6D2��J2�BF6�92J�5:DE:?E@D�G2=@C6D�BF6�56A6?56?�56�=2�6?EC252�BF6�D6�6DER�FE:=:K2?5@��J�E2>3:R?�56=@D�3FD6D�:?E6C?@D�56�=2�>6D2�A@C�5@?56�EC2?D4FCC2�=2�D6U2=$2� A@D:4:W?� 56� =@D� 4@?EC@=6D� 56� 82?2?4:2� 2:?� J� 56� =@D� 7256CD� 2764E2�� E2>3:R?�� 2=� G2=@C� 56� =2� C6=24:W?D6U2=�CF:5@�+:� E6?6>@D�F?2�D6U2=�AC@4656?E6�56�F?�>:4CW7@?@�4@?64E25@�2� =2�6?EC252�%:4��6=�2;FDE6�5682?2?4:2�2�DF�?:G6=�?@>:?2=��2=C6565@C�56 ��5����J�6=�7256C�D:EF25@�2�'�5���=2�C6=24:W?�D6U2=�CF:5@�56�6DE642?2=�D6CQ�=2�6DA64S7:42�A2C2�6DE2�6?EC252�(6C@�4F2?5@�>@G2>@D�=@D�4@?EC@=6D�6DE2�C6=24:W?�?@�E6?5CQ�6=>:D>@�G2=@C(@C�@EC@� =25@��D:�3:6?�A@56>@D�4@?@46C� =2� C6=24:W?�D6U2=�CF:5@�6?�F?�42?2=��M)FR�DF4656�4F2?5@�G2C:@D42?2=6D� 6DEQ?� 24E:G25@D� 2� =2� G6K��� 4@>@� 6D� =@�>QD� 7C64F6?E6� (F6D� BF6� 6=� ?:G6=� 4@?;F?E@� 56� CF:5@� 6DDFA6C:@C�2=�56�F?�DW=@�42?2=��56�7@C>2�BF6�6=�G2=@C�56�=2�C6=24:W?�+�*�6D�:?76C:@C(@C�E@5@�6DE@�6D�56�28C25646C�BF6�=@D�723C:42?E6D�56�>6D2D�>6K4=25@C2D�D6U2=6?�=@D�5:G6CD@D�G2=@C6D�BF6AF652� E6?6C� =2�C6=24:W?�+�*�6?�DFD�>@56=@D��DE@�?@D�52�F?2�:562�>F49@�>QD�6I24E2�56=�?:G6=�56�CF:5@BF6�D6�G2�2�E6?6C�.62>@D�F?2�6DA64:7:424:W?�4@CC64E2��@>@�D6�AF656�@3D6CG2C�� 6DE2D� 6DA64:7:424:@?6D�?@D� 724:=:E2?� =@D�G2=@C6D� E@E2=6D�56� CF:5@�A2C2�5:DE:?E@DC64@CC:5@D� 56� =2� D6U2=�� J� E2>3:R?� D6� 5:76C6?4:2� 6=� CF:5@� AC@G@425@� A@C� F?2� D@=2� D6U2=� 56=� BF6� AC@5F464F2?5@�D6�@A6C2�4@?�E@5@D�=@D�42?2=6D��G:56?E6>6?E6��4F2?E@�>2J@C�D62�=2�4:7C2�56�6DE2�C6=24:W?��>6?@CD6CQ�6=�CF:5@�4@?�BF6�@A6C6�F?2�>6D2�I:DE6?�>F49@D�6=6>6?E@D�6?� =@D�4:C4F:E@D�56�F?2�4@?D@=2�56�>6K4=2D�5@?56�6=�?:G6=�56� =2�D6U2=�C6DF=E22=E6C25@�� 2E6?F25@C6D�� AC62>A=:7:425@C6D�� 3@E@?6D� 56� 6?GS@�� 7256CD�� 6E4� �=� :?4C6>6?E@� 56� G@=E2;6� BF66IA6C:>6?E2�=2�D6U2=�56D56�DF�6?EC252�92DE2�=2�D2=:52��56A6?56�56�=2�CFE2�BF6�D:82�RDE2��J�E2>3:R?�56�=2A@D:4:W?� 56� =@D� 4@?EC@=6D� 56� 82?2?4:2� J� 2E6?F24:W?� �=� :?4C6>6?E@� >QI:>@� 56� G@=E2;6� BF6� AF6566IA6C:>6?E2C� F?2� D6U2=� 4F2?5@� 4:C4F=2� A@C� F?2� 56E6C>:?252�>6D2�� 6DEQ� 6IAC6D25@� 6?� 564:36=:@D�� J� =@DG2=@C6D�ESA:4@D�56�6DE2�82?2?4:2�D@?�56�F?@D����5��A2C2�6=�>:4CW7@?@�J�56�F?@D����5��A2C2�=2�6?EC252�56=S?62� +6CS2� A@D:3=6� @3E6?6C� F?@D� G2=@C6D� >QD� 6=6G25@D� 56� 82?2?4:2�� A6C@� A@D:3=6>6?E6� 2F>6?E2CS2E2>3:R?�6=�CF:5@�56�7@?5@�56�=2�D6U2=��J�A@C�6DE@�=@D�G2=@C6D�C6D6U25@D�D@?�=@D�>QD�923:EF2=6D���#"-�� 'EC2�42C24E6CSDE:42�BF6�4@?G:6?6�E6?6C�6?�4F6?E2�6D�=2�5:DE@CD:W?�A@C�4CF46�@�5:27@?S2���C@DDE2=<��BF6�>6DFC2� 6=� ?:G6=� 56� 2:D=2>:6?E@� 56�F?2� D6U2=� BF6�4:C4F=6�A@C� =2�>6D2� C6DA64E@�2� =2D� �@EC2D��F2?E@>2J@C�D62� =2�5:27@?S2� �BF6� E2>3:R?�D6�>6DFC2�6?�5���>6?@D� :?E6C76C6?4:2D�DF7C:CQ?� =2D�D6U2=6D�J�>6;@C

D6CQ� =2� >6D2� 6?� 4F6DE:W?� �6� E@52D� 7@C>2D� 6D� AC676C:3=6�� 4@>@� 6?� =2� C6=24:W?� +�*�� � 4@?E2C� 4@?� F?2D6DA64:7:424:@?6D�56E2==252D�BF6�>6DFC6?�6=�?:G6=�56�5:27@?S2�A2C2�5:DE:?E@D�C64@CC:5@D�

�:D=2>:6?E@�6?�CFE2��>6K4=2�$�*��� CFA@�� ���5��256C�2=�>QI:>@����E6?F24:W?�6?GS@��FI�����5�(2?@CQ>:4@�924:2�4@?>FE25@C�56�8CFA@�����5��2?2=���>@?:E@C�4@?�4@?>FE25@C��+@=@��� ���5�*6E@C?@�56�6764E@D�924:2� CFA@�����5�

!���*''%��,��!'��"&N%"�'�$2�5:76C6?4:2�6?EC6�6=�?:G6=�>QI:>@�BF6�F?�4:C4F:E@�AF656�>2?6;2C� �J�6=�?:G6=�?@>:?2=�56�6DE6�4:C4F:E@�D64@?@46�4@?�6=�?@>3C6�56 ��������@�E649@�5:?Q>:4@��DE6�>2C86?�4@CC6DA@?56�2�=2�5:DE2?4:2�BF6�6I:DE66?EC6� 6=� ?:G6=�?@>:?2=�56=� 42?2=�56�F?2�>6D2� �BF6�DF6=6�6DE2C� D@3C6� =@D����5�F�� J�6=� ?:G6=�56�A:4@�BF6AF656�D@A@CE2C�6=�4:C4F:E@�?�F?2�>6D2��6DE6�G2=@C�G2CS2�D68X?� =2�5:DA@D:4:W?�56� =@D�4@?EC@=6D�56�82?2?4:2�J� =@D�7256CD��J� E2>3:R?D68X?�6=�42>:?@�BF6�C64@CC6�=2�D6U2=�+:�E@>2>@D�=@D�?:G6=6D�56�F?�>:4CW7@?@��A@56>@D�42=4F=2C�6=�E649@5:?Q>:4@�42C24E6CSDE:4@�56�6DE6�EC2?D5F4E@C�

!625C@@>�� �&:G6=�>QI:>@��&:G6=�?@>:?2=���� ���5� ��5�������5�

-?2�G6K�>QD�6=�564:36=:@�?@D�D:CG6�A2C2�6IAC6D2C�6DE6�G2=@C��J2�BF6�56D4C:36�F?2�C6=24:W?�J�?@�F?�G2=@C23D@=FE@�����5��6D�6=�E649@�5:?Q>:4@��J�?@�D6�AF656�6D4C:3:C�A@C�6;6>A=@����5��+($�?�=2�7:8FC2� �D6�:=FDEC2�4FQ=�6D�=2�6IE6?D:W?�5:?Q>:42�J�6=�9625C@@>�56�F?�D:DE6>2�56�D@?:5@�6?�5:C64E@�6IAC6D25@� 6?� ERC>:?@D� 24XDE:4@D� J� 6=R4EC:4@D� $2� C6=24:W?�+�*� C6AC6D6?E2� =2� 5:76C6?4:2� 6?EC6� 6=� CF:5@� 567@?5@�J�6=�?:G6=�?@>:?2=�$2�7:8FC2�56�=2�:KBF:6C52�E:6?6�F?�?:G6=�56�CF:5@�>FJ�C65F4:5@��>QD�AC@A:@�56�F?6DEF5:@� 56� 8C2324:W?� BF6� 56� F?� 4@?4:6CE@� 6?� 5:C64E@�� A@C� 6DE@� D6� 5:DA@?6� 56� F?2� 6IE6?D:W?� 5:?Q>:424@?D:56C23=6�����564:36=:@D��?� =2� 7:8FC2�56� =2�56C6492�D6� :=FDEC2?�F?2D�4@?5:4:@?6D�>QD�AC@A:2D�56�F?224EF24:W?�6?�G:G@��?�6764E@��D:�D6�>6DFC2�6=�CF:5@�56�7@?5@�BF6�AF656�9236C�6?�F?�6D46?2C:@��5FC2?E6�F?224EF24:W?�6?�G:G@��6=�?:G6=�56�CF:5@�D6CQ�>QD�A2C64:5@�2=�C6AC6D6?E25@�2�=2�56C6492�56=�5:28C2>2�F2?5@�6=�?:G6=�56�82?2?4:2�56� =2�>6D2�6DEQ�F?�A@4@�>QD�32;@�56� =@�BF6�563:6C2��@�3:6?�D6� :?D6CE2�F?4@>AC6D@C� 6?� 6=� C64@CC:5@� 56� =2� D6U2=� AC@4656?E6� 56=�>:4C@�� C6DF=E2� F?�56D46?D@�56=� ?:G6=�>QI:>@�BF6AF656�42AE2C��DE2�C65F44:W?�E2>3:R?�AF656�G6CD6�6?�=2�7:8FC2� ��52?5@�4@>@�C6DF=E25@�BF6�6=�9625C@@>

D6�C65F46�6?���5���BF652?5@�DF�G2=@C�6?� ��5���?EC6�6DE2�C65F44:W?�J�6=� :?4C6>6?E@�56�CF:5@�56�7@?5@2?E6D�4@>6?E25@��C6DF=E2�BF6�=2�5:?Q>:42�E@E2=�56�6DE6�42?2=�BF652�C65F4:52�2����5�$2�6DA64:7:424:W?�56=�9625C@@>�?@D�:?7@C>2�D@3C6�=2�42A24:525�6?�F?�D:DE6>2�A2C2�42AE2C��D:?�5:DE@CD:W?6?�=@D�A:4@D�56=�AC@8C2>2�>FD:42=��D6U2=6D�A@C�6?4:>2�56�DF�G2=@C�?@>:?2=�+:�E@>2>@D�5@D��6BF:A@D�56D@?:5@�BF6�@A6C6?�4@?�6=�>:D>@�?:G6=�?@>:?2=��6=�6BF:A@�BF6�A@D62�F?�9625C@@>�>QD�2>A=:@�A@5CQ�42AE2C?:G6=6D�56�D6U2= >QD�6=6G25@D��D:?�BF6�6==@�DFA@?82�5:DE@CD:W?�6?�=2�>:D>2�D6U2=

"&�"���'*�+����&".�$,@52D� =2D� >6D2D� 56� >6K4=2� 4@?E:6?6?� F?� ?X>6C@� G2C:23=6� 56� :?5:425@C6D� G:DF2=6D� BF6� :?7@C>2?� 2=@A6C25@C�56=�?:G6=�BF6�E:6?6�=2�D6U2=�2F5:@�DE@D� :?5:425@C6D� AF656?� D6C .->6EC@D� @� A:4W>6EC@D�� 256>QD� 56� =@D� $��� ��:@5@� 6>:D@C� 56� =FK�� BF62G:D2?�4F2?5@�=2�D6U2=�D2EFC2�6=�42?2=�-?�.->6EC@��>65:5@C�56=�G@=F>6?��>:56�=2�:?E6?D:525�8=@32=�56�=2D6U2=�56�2F5:@��:?5:42�6=�G2=@C�AC@>65:@�BF6�E:6?6�RDE2�6?�4252�>@>6?E@�$2�C676C6?4:2�A2C2�DF�42=:3C25@24@DEF>3C2�2�6DE23=646CD6�D@3C6�F?�?:G6=�56� �>/�D@3C6�����@9>��2DS��4F2?5@�D6U2=2���=2�D6U2=�E:6?6�F?G2=@C�56�������G@=E:@D$2�AC64:D:W?�56� =@D�.->6EC@D� ��:8� ��� DF6=6�D6C�32DE2?E6�2=E2��2F?BF6� =2� :?6C4:2�BF6�AC6D6?E2� =2�28F;2:?5:425@C2�=:>:E2�F?�A@4@�=2�C2A:56K�BF6�D6�AC64:D2�A2C2�>2C42C�D@?:5@D�EC2?D:E@C:@D�BF6�E6?82?�F?�E:6>A@56�2E2BF6�J�42S52�>FJ�CQA:5@D

$@D� A:4W>6EC@D� ��:8� ��� 6DEQ?� 4@?DE:EF:5@D� A@C� F?� D:DE6>2� 56� :?5:425@C6D� =F>:?@D@D� BF6� EC232;2?� 4@?$����=�?X>6C@�56�$���BF6�4@?E:6?6�6=�A:4W>6EC@�?@D�:?7@C>2�D@3C6�=2�AC64:D:W?�56�RDE6����F2?E@D�>QD==6G6��>2J@C�D6CQ� =2�AC64:D:W?�BF6�E6?82��=�A:4W>6EC@� :?7@C>2�56�4FQ=�6D�6=�?:G6=�>QI:>@�56� =2�D6U2=�6?4252�>@>6?E@�� 4FQ=� 6D� 6=� ?:G6=� 56� =@D� A:4@D� BF6� RDE2� 4@?E:6?6�� J� DF� G6=@4:525�A2C2� C6244:@?2C� 4@?� =@D42>3:@D�56�=2�D6U2=�6D�>FJ�CQA:52��DF�42AE24:W?�6D�ACQ4E:42>6?E6�:?DE2?EQ?62$@� >QD� :>A@CE2?E6� 56� =@D� :?5:425@C6D� 56� ?:G6=�� D62� 4F2=� D62� DF� 4@?DE:EF4:W?�� 6D� BF6� 6DER?� 42=:3C25@D4@CC64E2>6?E6��6D�564:C�BF6�=@D�G2=@C6D�BF6�:?5:BF6�6?�4252�>@>6?E@�D6�2;FDE6?�2�=@D�G2=@C6D�C62=6D�BF6E:6?6�=2�D6U2=�(2C2�6==@�6I:DE6?�6?�=2D�>:D>2D�>6D2D 2F?BF6�?@�D:6>AC6�86?6C25@C6D�56�D6U2=�4@?�F??:G6=� 7:;@�� FDF2=>6?E6� �� 5�F�� 4@?� =@� BF6� 6D� A@D:3=6� 6764EF2C� =2 4@>AC@324:W?� D@3C6� 6=� 7F?4:@?2>:6?E@4@CC64E@�56�4F2=BF:6C�:?5:425@C��?�4F2=BF:6C�42D@��6D�A@D:3=6�92==2C�4:?E2D�@�5:D4@D�BF6�E6?82?�8C2325@D5:76C6?E6D�?:G6=6D�56�D6U2=��J�2DS�A@56C�42=:3C2C�=2�6I24E:EF5�56�F?@D�:?5:425@C6D

(*��%($"�"���'*�+�'(�*��"'&�$�+�DE@D� AC62>A=:7:425@C6D� 6DEQ?� AC6D6?E6D� 6?� G2C:@D� AF?E@D� 56� =2D� >6D2D� 56� >6K4=2�� J� AC@A@C4:@?2?7=6I:3:=:525�J� C68F=2C:525�6?�6=� C64@CC:5@�56� =2�D6U2=�A@C� =2D� CFE2D�BF6�RDE2�D:8F6��=� ERC>:?@�2>A=:7:425@C@A6C24:@?2=�AC@4656�56=�A2A6=�BF6�56D6>A6U2?�6DE2D�F?:5256D��J2�BF6�6764EX2?�=2D�>:D>2D�@A6C24:@?6D

BF6�D6�9246?�6?�>2E6>QE:42D��25:4:W?��DFDEC244:W?��>F=E:A=:424:W?�J�5:G:D:W?��2A=:4252D�2�=2D�D6U2=6D�BF6

>2?6;2?$2� C6AC6D6?E24:W?�56�6DE@D�2>A=:7:425@C6D�AF656�G6CD6�6?� =2� 7:8FC2� ���J� =2D�42C24E6CSDE:42D� :562=6D�BF6E6?5CS2?�BF6�E6?6C�D@?��82?2?4:2�:?7:?:E2��:>A652?4:2�56�6?EC252�6=6G25SD:>2��J�F?2�:>A652?4:2�56�D2=:526BF:G2=6?E6� 2� 46C@� �?� =2� 24EF2=:525�� =2� 82?2?4:2� BF6� 6D� A@D:3=6� @3E6?6C� 4@?� 6DE@D� 2>A=:7:425@C6D� 6DEQ6?EC6� ���5��J� ��5���DF�:>A652?4:2�56�6?EC252�AF656�==682C�2�=@D� ��>682@9>:@D�� ��������@9>:@D��J�DF�:>A652?4:2�56�D2=:52�6D�56�E2?�DW=@�F?@D�A@4@D�@9>:@D��DE@D�G2=@C6D�6DEQ?�=@�32DE2?E6�46C42�56�=@DG2=@C6D�:562=6D�A2C2�BF6�DF�7F?4:W?�AF652�D6C�4F>A=:52�2�=2�A6C7644:W?�?� =2� 7:8FC2� ��3�� D6�AF656�G6C�F?�2>A=:7:425@C�@A6C24:@?2=� 4@?�F?2�4@?7:8FC24:W?� :?G6CD@C2�� =2� C6=24:W?6?EC6�=2D�C6D:DE6?4:2D�6IE6C:@C6D�56E6C>:?2�DF�82?2?4:2

%�+�+��-,'%�,"1���+$2D� >6D2D� 2FE@>2E:K252D� 4@>6?K2C@?� 2� 723C:42CD6� 2� >65:25@D� 56� =@D� 2U@D� ��� �DE@D� D:DE6>2D� D632D232?�6?�4@5:7:42C�=2�A@D:4:W?�56�=@D�7256CD�A@C�>65:@�56�F?2D�>F6DEC2D�56�G@=E2;6��BF6�D6�C68:DEC232?6?�F?�A2C�56�A:DE2D�56=�>28?6EW7@?@�>F=E:A:DE2D��252�42>3:@�6?�=2�>6K4=2�:>A=:4232�6=�6?GS@�56�?F6G@D52E@D�924:2��6DE2D�5@D�A:DE2D��6? =2D�BF6�BF65232?�C68:DEC25@D�=@D�G@=E2;6D�4@CC6DA@?5:6?E6D�2�=2D�5:G6CD2DA@D:4:@?6D�BF6�=@D�7256CD�E@>232?�6?�6=�EC2?D4FCD@�56�F?2�@�G2C:2D�A:6K2D���:8� ��

&WE6D6� BF6� 6?� 6DE@D� D:DE6>2D� 56� 2FE@>2E:K24:W?� DW=@� 6C2� A@D:3=6� 4@?EC@=2C� 6=� ?:G6=� 56� =@D� 4@?EC@=6D56D=:K2?E6D��56�6?EC252�J�56�8CFA@��?@�D:6?5@�A@D:3=6�2FE@>2E:K2C�?:?8F?2�@EC2�7F?4:W?�F2?5@�6=�>28?6E@7W?�6DE232�6?�>@5@�C6AC@5F44:W?��6?G:232�E@52D�=2D�A:DE2D�AC68C23252D�924:2�=2�>6D2�:?4=FJ6?5@�=2D�5@D�56�C676C6?4:2�BF6�E6?S2?�C68:DEC25@D�=@D 52E@D�BF6�G2C:232?�=2�D:EF24:W?�56�=@D�7256CD�6?=2� >6D2� �6� 6DE2� 7@C>2�� =@D� EC232;@D� 56� >6K4=2� J� AC@5F44:W?� 6?� 6DEF5:@� D6� D:>A=:7:4232?�� J2� BF6� 6=@A6C25@C�56�=2�>6D2�?@�E6?S2�BF6�>6>@C:K2C�4252�G2C:24:W?�56�?:G6=�BF6�563S2�9236C�A2C2�4252�A:DE2��J2BF6�6DE2D�G2C:24:@?6D�6DE232?�J2�:>AC6D2D�6?�=2D�A:DE2D�BF6�4@>2?5232?�E@5@D�=@D�4@?EC@=6D�56D=:K2?E6D56� =2� >6D2� �DS� D6� 4@?D:8F:W� D:>A=:7:42C� J� 23C6G:2C� =2D� D6D:@?6D� 56� C68:DEC@� J� AC@5F44:W?� 6?� >F49@D6DEF5:@D�=�4@C2KW?�56�6DE@D�D:DE6>2D�D@?�=@D�.�����>A=:7:425@C6D�4@?EC@=25@D�A@C�G@=E2;6��BF6�D@?�FE:=:K25@D�A2C26=�4@?EC@=�56�=@D�?:G6=6D�6?�=@D�>2?5@D�56D=:K2?E6D�?�=2�24EF2=:525��6D�>QD�4@>X?�=2�FE:=:K24:W?�56�=@D�4W5:8@D�56�E:6>A@��BF6�D@?�C68:DEC25@D�6?�F?2�A:DE256=�>28?6E@7W?��@�3:6?�D:?4C@?:K25@D�A@C�>65:@�56�F?�@C56?25@C��DE6�X=E:>@�>65:@�6DEQ��D:6?5@�FE:=:K25@�4252�5S2�4@?�>QD�7C64F6?4:2��6?�2=8F?@D�>@?E2;6D�56�D@?:5@�6?�5:C64E@��DE@�=:36C2�2=�@A6C25@C�56�=2�>6D256=� 4@?E:?F@� 4@?EC@=� D@3C6� =@D� ?:G6=6D� 56� =@D� 5:G6CD@D� 42?2=6D� FE:=:K25@D� (@C� @EC@ =25@�� =@D� 24EF2=6DD:DE6>2D�56�2FE@>2E:K24:W?�A6C>:E6?�6=�4@?EC@=�D@3C6�>QD�AF?E@D�56�=2�>6D2��4@>@�D@?�=@D�4@?>FE25@C6D56� 42?2=� @� =@D� 6?GS@D� 924:2� 6764E@D�� A6C@� 6=� 4@DE@� 6I46D:G@� BF6� 6==@� DFA@?6� =:>:E2�� A@C� =@� 86?6C2=�� DF2A=:424:W?�ACQ4E:42�2�=@D�2E6?F25@C6D�56�?:G6=(2C2� 4@?D68F:C� BF6� D6� 2D6>6;6?� =@D� C68:DEC@D� 5:D4@8CQ7:4@D� 4@?� =2D� :?E6CAC6E24:@?6D� 6?� G:G@�� 6=� FD@� 56>6D2D�2FE@>2E:K252D�D6�:CQ�:?4C6>6?E2?5@��4@?�D68FC:525��5FC2?E6�=@D�ACWI:>@D�2U@D$2� A=6?2� :>A=2?E24:W?� 56� :?DECF>6?E@D� BF6� D6� 4@>F?:42?� GS2� %"�"�� F?:5@� 2=� 56D2CC@==@� 56=� D@7EH2C6:?7@C>QE:4@��724:=:E2�BF6�=2D�>6D2D�2FE@>2E:K252D�AF652?�D6C�AC@8C6D:G2>6?E6�FE:=:K252D�6?�=@D�4@?4:6CE@D6?�5:C64E@�=8F?@D�>@56=@D�56�6DE2D�>6D2D�A6C>:E6?� =2�6=644:W?�56=� E:A@�56�2FE@>2E:K24:W?�BF6�D6�56D66��J2�D628=@32=�56D56�=2�D644:W?�>26DEC2�@�6?�DF38CFA@D��@�3:6?�:?5:G:5F2=�A2C2�4252�42?2=�(@C�?@C>2�86?6C2=��6?E@52D�6==2D��D@?�724E:3=6D�=2�2FE@>2E:K24:W?�56�=@D�4@?EC@=6D�56D=:K2?E6D�56�42?2=�J�=@D�6?>F564:>:6?E@D�5642?2=�J�56�>@?:E@C$@D� 6=6>6?E@D� A6C:7RC:4@D� 5@?56� D6� C68:DEC2?� =@D� 52E@D� 56� =2� 2FE@>2E:K24:W?�AF656?�?646D:E2C�56�2=8X? ����� A2C2�=2�EC2?D>:D:W?�56�52E@D��2�?@�D6C�BF6�=2�>:D>2�>6D2�J2�=@�E6?82�:?4@CA@C25@,C232;2?5@� 32;@� AC@E@4@=@� %"�"� 2=8F?@D� D64F6?4:25@C6D� AF656?� C68:DEC2C� 52E@D� C6=2E:G@D� 2� =2

2FE@>2E:K24:W?� 56� F?� AC@8C2>2�� D:?� BF6� RDE@D� :?E6C7:6C2?D@3C6� =2� :?7@C>24:W?� 56� 6;64F4:W?� >FD:42=� �@?G:6?6:?7@C>2CD6�3:6?�D@3C6� =2D�A@D:3:=:5256D�56� :?E6C244:W?�6?EC6F?2�>6D2�J�F?�D:DE6>2�4@?4C6E@�56�D64F6?4:25@C6D��2?E6D56�4F2=BF:6C�6=644:W?�=8F?2D� >6D2D� @7C646?� 2� DFD� FDF2C:@D� =2� A@D:3:=:525� 564@?>FE24:W?� ��'?�� J� �'77��� 56� =@D� 6?GS@D� 2FI:=:2C6D� J� 56� =@DC6E@C?@D�56�DF38CFA@��?�6DE@D�42D@D�6D�A@D:3=6�AC@8C2>2C>65:2?E6�6=�@C56?25@C�=@D�6764E@D�BF6�D6�G2J2?�2�FE:=:K2C�6?F?� 6G6?E@�� 4@?64EQ?5@=@D� J� 56D4@?64EQ?5@=@D� 42?2=� A@C42?2=�%65:2?E6� =2�A2?E2==2�56=�AC@8C2>2�D6�A@5CQ?�G6C� =2DD64F6?4:2D� 56�4@?>FE24:W?�� J�2DS� 4F2?5@�2A2C6K42�2=8F?2>2=7F?4:W?�D6CQ�A@D:3=6�24EF2C�A2C2�6=:>:?2C=2�@>@� C6DF=E2� 6G:56?E6�� 2=� EC232;2C� 4@?� 2=E@D� ?:G6=6D� 562FE@>2E:K24:W?� 6=� @C56?� 56� =2D� A:6K2D� J� DF� 6DECF4EFC2>FD:42=�5636�D6C�:?2=E6C23=6��J�2E6?6CD6�2�=2D�D64F6?4:2D�5652E@D�J2� :>AC:>:52D�6?�6=�AC@8C2>2�&@�92J� =F82C�A2C2� =2D:>AC@G:D24:@?6D� :>AC6G:DE2D�� 2� ?@� D6C� BF6� D6� 56D4@?64E6>@>6?EQ?62>6?E6� 6=� D:DE6>2� 56� 2FE@>2E:K24:W?�� J� =F68@GF6=G2�2�4@?64E2CD6

��-�$"1�*���+���$��%�+�+68X?�=2�42C6DES2�56�4252�>6D2�56�>6K4=2D��=@D�>W5F=@D�56�64F2=:K24:W?�BF6�==6G2?�:?4@CA@C25@D�AF656?D6C�>QD�@�>6?@D� � 4@>A=6;@D�$2D�>6D2D�>QD�D6?4:==2D� 4@?E:6?6?�5@D�@� EC6D�4@?EC@=6D�56� E@?@��56� E:A@=:?62=��4FJ@�>2?6;@�6D�D:>:=2C�2�=@D�4@?EC@=6D�BF6�==6G2?�=@D�2>A=:7:425@C6D�9:7:���:8� ����D�>QD�4@CC:6?E66?4@?EC2C�>W5F=@D�5@?56�D6�4@>3:?2?�=@D�4@?EC@=6D�56�E@?@�=:?62=6D�4@?�=@D�56�E:A@�D6>:A2C2>REC:4@��E2=4@>@�D6�>F6DEC2�6?�=2�7:8FC2� ���?�6DE6�42D@��?@D�92==2>@D�4@?�F?�4@?EC@=�A2C2�=2D�2=E2D�7C64F6?4:2D�56�E:A@�=:?62=��5@D�4@?EC@=6D�A2C2�=2D7C64F6?4:2D�>65:2D� J� @EC@D� 5@D� A2C2� =2D� 8C2G6D� �=� AC:>6C�>2?5@� 56� 4252� 8CFA@� 42>3:2� =2� 7C64F6?4:246?EC2=�56=�4@?EC@=��J�6=��2?49@�56�32?52�D@3C6�6=�BF6�D6�G2�2�24EF2C�G2CS2�56�24F6C5@�4@?�=2�42?E:525�564@CE6� @� 2>A=:7:424:W?� BF6� 6764EF2CQ� 6=� D68F?5@� >2?5@� 56� 4252� 8CFA@� :CQ?5@=@� 924:2� =2� 56C6492� D6

@3E:6?6�F?2��2>A=:7:424:W?�>QI:>2�56�92DE2� ��5��D@3C6�=2�32?52�56�7C64F6?4:2D�6D4@8:52D��>:6?EC2D�BF62=�8:C2C=@�924:2� =2� :KBF:6C52� =2�32?52�6D�2E6?F252�92DE2�F?�>QI:>@�56� ��5��$@D�G2=@C6D�D@3C6� =@D�BF6AF656�24EF2C�6=�8CFA@�56�64F2=:K24:W?�56�>65:@D�6DEQ?�4@>AC6?5:5@D�6?EC6�=@D�����!K�J� ��<!K��>:6?EC2DBF6�6=�8CFA@�56�32;2D�7C64F6?4:2D�A@5CQ�EC232;2C�6?EC6�=@D����!K�J�=@D� ���#!K�?� =2D� 4@?D@=2D� 56� >6K4=2� >QD� 4@>A=6;2D� =@D� 4@?EC@=6D� 56� 64F2=:K24:W?� E2>3:R?� D@?� >QD� 4@>A=6E@D�AF5:6?5@�E6?6C�6=�2DA64E@�BF6�D6�AF656�G6C�6?�=2�7:8FC2� �"?56A6?5:6?E6>6?E6� 56� =@D� 4@?EC@=6D� A2C2� =2� 64F2=:K24:W?� BF6� E6?82� F?2� >6D2�� 6D� >FJ� 4@>X?6?4@?EC2C?@D�4@?�2=8X?� E:A@�56� 7:=EC@�A2D232?52��BF6�AF656�D6C�56�FE:=:525�6?�2=8F?@D�42D@D�4@?4C6E@D�*64@CE2C�F?�KF>3:5@�A2CQD:E@��C65F4:C�=2�C62=:>6?E24:W?��6E4�

� �������

,2>3:R?� AF656� 52CD6� 6=� 42D@� 56� BF6� =@D� D:DE6>2D� 56� 64F2=:K24:W?� BF6==6G6� F?2� >6D2� BF656?� 4@CE@D� A2C2� ?F6DEC@D� 56D6@D� (2C2� 6==@� 92J5:DA@?:3=6D�C24<D�56�64F2=:K24:W?�BF6�AF656?�:?4@CA@C2CD6�2��=@D�42?2=6D56� 6?EC252� @� 56� 8CFA@� 56� =2� >6D2�� 2?F=2?5@� 6=� AC@A:@� D:DE6>2� 5664F2=:K24:W?�56�=2�>6D2��=�?:G6=�56�42=:525�56�6DE@D�C24<D�56�64F2=:K24:W?G6?5CQ�56E6C>:?25@��F?2�G6K�>QD��A@C�DF��AC64:@�?� =2� 7:8FC2� ��D6�92?�5:DAF6DE@�2=8F?2D�DF86C6?4:2D�56�4@>@�64F2=:K2C56D56� F?2� >6D2� 5:G6CD@D� :?DECF>6?E@D� >FD:42=6D�� J� E2>3:R?� 2=8F?2DA@D:3=6D�D@=F4:@?6D�4F2?5@�6=�D@?:5@�BF6�D6�@3E6?82�?@�D62�D2E:D724E@C:@�63@� C6>2C42C� BF6� =@D� G2=@C6D� BF6� D6� 2AF?E2?� 6?� 6DE2� 7:8FC2� ?@� D@?23D@=FE@D�� D:?@� D@=2>6?E6� 56� C676C6?4:2�� J2� BF6� 4252� G@K� J� 4252:?DECF>6?E@�E:6?6�DFD�AC@A:2D�7C64F6?4:2D�56�C6D@?2?4:2�J�DFD�2C>W?:4@DA2CE:4F=2C6D�� 6DE@� :>A:56� BF6� F?2� 64F2=:K24:W?� �4@CC64E2� A2C2� F?:?DECF>6?E@� 56E6C>:?25@�� AF652� D6C� FD252 D:?� G2C:2C� ?252� :8F2=>6?E6A2C2�4F2=BF:6C�@EC@�:?DECF>6?E@�D:>:=2C

�%($"�&�'�$�+��&,*���+����-&��%�+��?� 2=8F?@D� >@?E2;6D� AF656� DF4656C BF6� =@D� 42?2=6D� 56� 6?EC2525:DA@?:3=6D� 56� =2� >6D2� AC:?4:A2=� D62?� :?DF7:4:6?E6D� A2C2� ?F6DEC2D?646D:5256D�$2�FE:=:K24:W?�56�>QD�56�F?2�6?EC252�A2C2�4@?EC@=2C�6=�D@?:5@56�F?�:?DECF>6?E@�?@�6D�F?�9649@�2:D=25@�J2�BF6��2�>6?F5@��D6�AC64:D2?42?2=6D�BF6�A6C>:E2?�=2�6?EC252�56�F?2�D6U2=�AC@46D252��A2C2�6764EF2C�=2>6K4=2�AC64:D2�4@?�=2�D6U2=�5:C64E2�56=�>:4CW7@?@�-?�8F:E2CC:DE2�BF6�FE:=:46G2C:@D�>@56=@D�56�8F:E2CC2D�AC64:D2CQ�56� E2?E2D�6?EC252D�4@>@�8F:E2CC2DFE:=:46��D:�56D62�6?EC682C�6?� =@D�5:C64E@D�F?�D@?:5@�3:6?�567:?:5@�6?�425242D@

$2� FE:=:K24:W?� 56� F?�>6K4=25@C� 4@>3:?25@� 4@?� =2�>6D2� 56�>6K4=2D� AC:?4:A2=� AF656� D6C� XE:=� 6?�>F492D@42D:@?6D��J�?@�:>A@CE2�D:�6=�>6K4=25@C�:?4@CA@C25@�6D�>QD�@�>6?@D�4@>A=6;@��=@�>QD�:>A@CE2?E6�6D�BF6=2�42=:525�56�RDE6�?@�5:7:6C2�>F49@�56� =2�BF6�A@D66� =2�>6D2�AC:?4:A2=��D�564:C�BF6�DF� C6=24:W?�+�*�� =25:27@?S2� 6?EC6� 42?2=6D�� =@D� ?:G6=6D� 56� 82?2?4:2�� J� =2� 5:DE@CD:W?� BF6� AC@G@BF6� 6?� =2� D6U2=�� E6?82?� F?@DG2=@C6D�4@>A2C23=6D�@�>6?@C6D�BF6�=@D�BF6�A@D66�=2�>6D2�56�>6K4=2D�46?EC2=�DE6�>6K4=25@C�2FI:=:2C�AF656�D:EF2CD6��D68X?� =2� 7F?4:W?�4@?4C6E2�BF6�G2J2�2�56D6>A6U2C��2=� =25@�56� =2>6D2�AC:?4:A2=�@�3:6?�46C42��56�=@D�>XD:4@D�BF6�D6�D:CG2?�56�R=�+:�D6�EC2E2��A@C�6;6>A=@��56��F?�E64=:DE2�BF65FC2?E6� F?� 4@?4:6CE@� FE:=:46� 4F2EC@� 5:DE:?E@D� >@56=@D� 56� E64=25@D�� @� 3:6?� 56� F?� 8F:E2CC:DE2� BF6� E@BF65:G6CD@D� E:A@D�56�8F:E2CC2D��AF656�D6C�>QD�4@?G6?:6?E6�D:EF2C�6=�>6K4=25@C�46C42�56� =@D� :?DECF>6?E:DE2D�A2C2�BF6�6==@D�>:D>@D� E6?82?�F?�4@?EC@=�AC64:D@�56=� E@?@�J�6=�G@=F>6?�BF6�AC64:D2�4252�:?DECF>6?E@�6?4@?4C6E@

��������

+:�D6� EC2E2��A@C�@EC@� =25@��56�4@?EC@=2C�4@?�6=�>6K4=25@C� E@52D� =2D�6?EC252D�56�F?2�D644:W?�56�G:6?E@D��@3:6?� =@D� 5:G6CD@D� >:4CW7@?@D� BF6� AC@4656?� 56� F?2� 32E6CS2�� 6?E@?46D� D6CQ� >QD� 4@?G6?:6?E6� BF6� 6=>6K4=25@C�D6�D:EX6�2=�=25@�56�=2�>6D2�AC:?4:A2=��A2C2�BF6�6=�ER4?:4@�=@�>2?6;6$2D�6?EC252D�A2C2�BF6�=2�>6D2�AC:?4:A2=�C64:32�=2�D6U2=�AC@4656?E6�56=�>6K4=25@C�6DEQ?�AC6A2C252D��A@C�=@86?6C2=��A2C2� =@D�?:G6=6D� ESA:4@D�56� =S?62��BF6�D6�D:EX2?�6?EC6�6DE@D�G2=@C6D� ��5�F�����>.�� ��5�.��� �>.���@����5�F�� ����.���?�2=8F?@D�42D@D�=2D�>6D2D�?@�5:DA@?6?�56�4@?EC@=6D�56�?:G6=�A2C2�=2D�6?EC252D�DF3:?AFED���6=�?:G6=�5636CQ�6?E@?46D�4@?EC@=2CD6�>65:2?E6�=@D�7256CD�56=�8CFA@�>26DEC@�56=�>6K4=25@C��?6DE@D�42D@D�92J�BF6�G:8:=2C�=@D�G2=@C6D�56�=2D�:>A652?4:2D�C6DA64E:G2D���2DS�4@>@�=@D�?:G6=6D�56�=S?62��A2C2BF6�?@�D6�AC@5FK42�F?2�D@3C642C82�6?�=2D�4@?6I:@?6D�6?EC6�>6K4=25@C�J�>6D2(F656�DF4656C�BF6�=2�>6D2�AC:?4:A2=�?@�E6?82�4@?64E@C6D��DF3:?AFED���6DE@�?@�5636�D6C�?:?8X?�@3DEQ4F=@A2C2�6764EF2C�=2�4@?6I:W?�4@?�6=�>6K4=25@C��J2�BF6�AF656?�2AC@G6492CD6�2=8F?@�56�=@D�42?2=6D�?@C>2=6D56�6?EC252�56�=2�>6D2��@�3:6?�=@D�4@?64E@C6D�56�C6E@C?@�56�6764E@D��4F:52?5@�E2>3:R?�6?�6DE@D�42D@D�BF66I:DE2�4@>A2E:3:=:525�56�?:G6=�J�56�:>A652?4:2�?�@42D:@?6D��6=�>6K4=25@C�2FI:=:2C�AF656�E6?6C�D2=:52D�BF6�AC64656?�2�=@D�7256CD�>26DEC@D��DE2D�D2=:52DAF656?�2AC@G6492CD6�A2C2�6?G:2C�=2�D6U2=�924:2�=2�>6D2�AC:?4:A2=��J�FE:=:K2C�=@D�7256CD�56=�>6K4=25@C�A2C24@?EC@=2C� 6=� ?:G6=� 56� D2=:52� A2C2� @EC@� FD@�� 4@>@� AF656� D6C� 6=� 6?GS@� 56� =2� D6U2=� 924:2� F?� D:DE6>2� 56>@?:E@C2;6�6?�6=�6D46?2C:@��?�6DE6�42D@��6D�24@?D6;23=6�A@56C�4@?EC@=2C��56D56�=2�>6D2�AC:?4:A2=��6=�?:G6=56� =2� D6U2=� BF6� AC@4656� 56=�>6K4=25@C�� 56D56�F?� 42?2=� 56� 6?EC252�@� 56D56�F?� C6E@C?@�56�2FI:=:2C�� A@C6;6>A=@��?�=2�7:8FC2����D6�>F6DEC2�F?�A@D:3=6�6DBF6>2�56=�4@?6I:@?25@�6?EC6�>6K4=25@C�2FI:=:2C�J�>6D2AC:?4:A2=

%�+�+�(�*���$��'&,*'$��&��+��&�*"'$@D�D:DE6>2D�56�>@?:E@C:K24:W?�6?�6=�6D46?2C:@�A6C>:E6?�2� =@D�>XD:4@D�E6?6C�F?2�C676C6?4:2�4=2C2�56�=2D4F2=:5256D� 56=� D@?:5@� BF6� D6� 6DEQ� 6?EC682?5@�� J� 724:=:E2?� BF6� D6� 6D4F496?� 6?EC6� D:� -?� D:DE6>2� 56>@?:E@C6D� 3:6?� 6BF:=:3C25@� 6D� :?5:DA6?D23=6� A2C2� BF6� E@5@D� =@D� >:6>3C@D� 56� F?2� 32?52� D6� D:6?E2?4W>@5@D��J�2DS�56DE:?6?�DFD�6D7F6CK@D�A2C2�4C62C�>XD:42�6I4=FD:G2>6?E6�=�D:DE6>2�56�>@?:E@C2;6�6D�F?�6BF:A@�56�2>A=:7:424:W?�D@?@C2�BF6�@A6C2�56�7@C>2�:?56A6?5:6?E6�C6DA64E@2=�D:DE6>2�56�2>A=:7:424:W?�AC:?4:A2=��@>@�6=�D:DE6>2�AC:?4:A2=�� E2>3:R?�6DEQ�4@?DE:EF:5@��A@C�F?2�>6D2�64F2=:K25@C6D� 6E2A2D�56�A@E6?4:2�J�2=E2G@46D��:?E68C2?5@�2�G646D�2=8X?�E:A@�56�AC@46D25@C�$@D�2=E2G@46D6?�F?�D:DE6>2�56�>@?:E@C2;6�6DEQ?�D:6>AC6�D:EF25@D�6?�6=�6D46?2C:@��3:6?�6?�=@D�=2E6C2=6D��� �� �����@�6?�6=DF6=@��56=2?E6�56�=@D�>XD:4@D$2�5:76C6?4:2�3QD:42�6?�F?2�>6D2�A2C2�>@?:E@C6D�6D�BF6�4@?E:6?6�G2C:@D�42?2=6D�56�D2=:52��BF6�2=:>6?E2?5:DE:?E@D�2>A=:7:425@C6D�EC232;2?5@�6?�>@?@�@�6?�6DERC6@��252�D2=:52�56�=2�>6D2�D6�2D:8?2��A2C2�4F3C:CF?@�@�>QD�>XD:4@D��56�7@C>2�BF6�C64:32?�=2D�D6U2=6D�56�=@D�:?DECF>6?E@D�BF6�AC64:D6?�6D4F492C��DS�A@C6;6>A=@�� F?� 42?E2?E6� D@=:DE2� ?646D:E2CQ� 6D4F492C� =2D� G@46D� BF6� 9282?� 4@C@D� J� =2� DFJ2� AC@A:2�� JA@D:3=6>6?E6� 2=8@� 56� =2� D6U2=� AC@4656?E6� 56� =2D� 8F:E2CC2D� @� 3:6?� 56� =@D� E64=25@D� -?� 32;:DE2� BF6CCQ5:DA@?6C� 6?� DF� 2=E2G@K�56�>@?:E@C� 56� =2� D6U2=�AC@4656?E6�56=�3@>3@��>:6?EC2D�BF6�6=�32E6CS2�AC64:D2CQ6D4F492C�=2�D6U2=�56=�32;:DE2��A2C2�D68F:C�6=�C:E>@�4@?�AC64:D:W?��=�8F:E2CC:DE2�?646D:E2�6D4F492C�E2>3:R?�=2D6U2=�56=�32;@��56=�3@>3@��J�56�2=8X?�@EC@�E2>3@C��>:6?EC2D�BF6�F?�E64=:DE2�BF6CCQ�6D4F492C�6?�DF�>@?:E@C=2�8F:E2CC2�J�=2�G@K�D@=:DE2��256>QD�56�F?�A@4@�56=�32;@(@C�6DE6�>@E:G@� =2D�>6D2D�56�>@?:E@C6D�4@?E:6?6?�@49@�@�>QD�3FD6D�56�D2=:52��J�6DEQ?�5:D6U252D�A2C2@A6C2C�4@?�4F2=BF:6C�4@>3:?24:W?�56�D6U2=6D�56�6?EC252�2D:8?252D�2�=@D�42?2=6D�56�D2=:52,2>3:R?� =@D� 2=E2G@46D� 56� >@?:E@C� 6DEQ?� 5:D6U25@D� 6DA64S7:42>6?E6� A2C2� DF� 7F?4:W?�� =2� 82>2� 567C64F6?4:2D�BF6�C6AC@5F46?�6D�2=8@�>QD�6DEC6492�BF6�6=�D:DE6>2�56�2=E2G@46D�AC:?4:A2=6D��J�DF�Q?8F=@��565:DA6CD:W?�D@?@C2�6D�>QD�C65F4:5@��A2C2�724:=:E2C�6=�4@?EC@=�56�=2�C62=:>6?E24:W?�24XDE:42

�?�=2�7:8FC2�� �D6�>F6DEC2�6=�5:28C2>2�56�F?�D:DE6>2�56�>@?:E@C2;6�$2�D6U2=�AC@4656?E6�56�=@D�>:4C@D�6D6?G:252� 924:2� 6=� 42;6ES?� 56� 4@?6I:@?6D� 56=� 6D46?2C:@�� 5@?56� =2� D6U2=� D6� 5:G:56� A2C2� D68F:C� 5@D� CFE2D5:DE:?E2D��F?2�924:2�=2�>6D2�56�>@?:E@C6D��J�@EC2��2�EC2GRD�56�=2�>2?8F6C2��924:2�=2�>6D2�AC:?4:A2=�252�D2=:52�56� =2�>6D2�56�>@?:E@C6D�AF656�5:C:8:CD6�924:2�F?�64F2=:K25@C�8CQ7:4@��A2C2� C65F4:C�6?�425242D@�=@D�A@D:3=6D�A:4@D�56�C6D@?2?4:2�BF6�42FD6?�C62=:>6?E24:W?�24XDE:42��56�29S�=2�D6U2=�D6�5:C:86�924:2=2D�6E2A2D�56�A@E6?4:2�BF6�2=:>6?E2CQ?�2�=@D�2=E2G@46D�FC2?E6�=2�5R4252�56�=@D����J�AC:?4:A:@D�56�=@D����=@D�6?GS@D�924:2�=@D�2=E2G@46D�56�>@?:E@C�D6�C62=:K2C@?56D56�=2�>6D2�AC:?4:A2=��=2�X?:42�BF6�D6�6>A=6232��DE@�4C6232�F?�AC@3=6>2�A2C2�6=�ER4?:4@��J2�BF6�56D56F?2�D@=2�>6D2�6C2�>FJ�5:7S4:=�C62=:K2C�2�=2�G6K�=@D�6?GS@D�56�=2D�>6K4=2D�A2C2�6=�>@?:E@C2;6��J�=2D�>6K4=2D2564F252D� A2C2� 6=� D:DE6>2� 56� 2>A=:7:424:W?� 56� =2� D2=2� $2D� >6D2D� 56� >@?:E@C� G:?:6C@?� 2� 4F3C:C� 6DE6:>A@CE2?E6�G24S@�$@D�>XD:4@D� E:6?6?�BF6�4@>F?:42CD6�4@?�6=� ER4?:4@�56�>@?:E@C6D�A@C�>65:@�56�D:8?@D>2?F2=6D��A2C2� :?5:42C=6�4F2=BF:6C�42C6?4:2�@�56764E@�BF6�92J2�6?�DF�>@?:E@C�A2CE:4F=2C��>:6?EC2D�BF6�6=ER4?:4@�5636�2AC6?56C�2�:?E6CAC6E2C�6DE@D�D:8?@D�4@?�C2A:56K��D@3C6�=2�>2C492�$2D�>6K4=2D�BF6�2A2C646?6?� 4252� 2=E2G@K� 56� >@?:E@C� 5636?� D6C�� 6?� =@� A@D:3=6�� =2D� BF6� 4252� >XD:4@� AC64:D2� A2C2� A@56C� D68F:C4@CC64E2>6?E6� =2� A:6K2�� J� 6D� 7F?4:W?� 56=� ER4?:4@� 56� >@?:E@C6D� 4@?D68F:C� 6=� 6BF:=:3C:@� AC64:D@� 6?EC6� =@D56D6@D�56�=@D�>XD:4@D�J�=2D�A@D:3:=:5256D�C62=6D�56�4252�D:DE6>2$2� 42=:525� 56=� D:DE6>2� 56�>@?:E@C6D� ;F682� 2� 72G@C� 56=� >XD:4@� AC@76D:@?2=� +:� ?@� E:6?6� AC@3=6>2D� A2C26D4F492C� 6=� D@?:5@� BF6� 6>:E6�� ;F?E@� 4@?� =@D� @EC@D� :?DECF>6?E@D� BF6� =6� D:CG6?� 56� C676C6?4:2�� ?@� E6?5CQAC@3=6>2D�A2C2�56D2CC@==2C�4W>@52>6?E6�DF�7F?4:W?��56D2CC@==2?5@�2=�>QI:>@�DFD�4F2=:5256D�2CESDE:42D

+",-��"P&����$��%�+���&�-&��"*��,'$2�>6D2�56�>@?:E@C6D� 5636�6DE2C� D:EF252�2� =2�>:D>2�2=EFC2�BF6�6=�6D46?2C:@�� D@3C6� =2�A2CE6� =2E6C2=�56=>:D>@��A2C2�BF6�6=�@A6C25@C�56�=2�>6D2�J�=@D�>XD:4@D�AF652?�G6CD6�4@?�724:=:525��D�AC676C:3=6�E2>3:R?�BF6�6=�=25@�5@?56�D6�D:EX6�=2�>6D2�56�>@?:E@C6D�D62�6=�@AF6DE@�2=�=F82C�6?�BF6�6DEQ?�=@D � �����A2C2�=2D=F46D�J�=@D�EC2?D7@C>25@C6D�56�A@E6?4:2��A2C2�6G:E2C�6?�=@�A@D:3=6�4F2=BF:6C�E:A@�56�:?E6C76C6?4:2�56�@C:86?6=64EC@>28?RE:4@$2�D:EF24:W?�56�=2�>6D2�AC:?4:A2=�E:6?6�F?2�:>A@CE2?4:2�?@E23=6�D:�D6�56D62�BF6�E@52�=2�2F5:6?4:2�E6?82�F?D@?:5@�4@CC64E@�+:EF2C�=2�>6D2�6?�F?�=F82C�:?2AC@A:25@�5:7:4F=E2�6?@C>6>6?E6�=2�@3E6?4:W?�56�F?�32=2?464@CC64E@��J�?@�724:=:E2�BF6�6=�@A6C25@C�56�=2�>6D2�AF652�64F2=:K2C�3:6?�6=�D:DE6>2�@>@�?@C>2�86?6C2=��6?�=2�>2J@CS2�56�42D@D�D6�6>A=2K2�2=�=25@�56=�6;6�A6CA6?5:4F=2C�2=�6D46?2C:@��2�F?25:DE2?4:2� :5R?E:42�56� =2D�5@D�4@=F>?2D�56�2=E2G@46D�$2�5:DE2?4:2�6?EC6� =2�>6D2�J�6=�6D46?2C:@�5636�D6C�4@>@�>S?:>@�� =2�>:D>2� BF6� 6I:DE2� 6?EC6� =2D� 4@=F>?2D� 56� 2=E2G@46D�� J� 4@>@�>QI:>@� 6=� 5@3=6� 56� 6DE25:DE2?4:2���:8FC2����

�=8F?@D� :?86?:6C@D� 56� D@?:5@� AC67:6C6?� D:EF2C� =2�>6D2� D@3C6� 6=�>:D>@� 6;6� 56� F?2� 56� =2D� 4@=F>?2D� 562=E2G@46D�� J2� BF6�2DS� E:6?6?�F?2� C676C6?4:2�>QD�AC64:D2� 56� =2� C6DAF6DE2� 6?� 7C64F6?4:2D� 56=� D:DE6>2��=AC@3=6>2�BF6�AF656�9236C�6?�6DE2D�D:EF24:@?6D��6D�BF6�D6�AF656?�AC@5F4:C�2=8X?�E:A@�56�42?46=24:@?6D56�72D6�6?EC6�6=�D@?:5@�BF6�6>6C86�56�=@D�2=E2G@46D�56�F?�=25@�J�6=�BF6�6>6C86�56=��@EC@�+:�2A2C646�6DE6AC@3=6>2��BF6�A@C�@EC2�A2CE6�6D�56� 7Q4:=� D@=F4:W?�A2C2�6=� :?86?:6C@��RDE6�?@�D6�52CQ�4F6?E2�563:5@�2�DF4@=@424:W?��J�=2�42?46=24:W?�56�72D6�A6CD:DE:CQ�6?�F?2�2>A=:2�K@?2�56=�2F5:E@C:@

�@=@42C� =2�>6D2�56�>6K4=2D�56>2D:25@�46C42�56=�6D46?2C:@�AF656�D6C�>@E:G@�56�BF6� =@D�6DA64E25@C6DD:EF25@D� 6?� =2D� K@?2D� >QD� 2=6;252D� E6?82?� F?� G@=F>6?� A@3C6� 56� 2F5:4:W?�� 563:5@� 2� =2� 5:DE2?4:2� 566D4F492�56=�@A6C25@C�56�=2�>6D2�+:EF2C�=2�>6D2�56>2D:25@�=6;@D�56=�6D46?2C:@�AF656�AC@G@42C��A@C�@EC@=25@��BF6�=@D�6DA64E25@C6D�D:EF25@D�>QD�46C42�56�=2D�4@=F>?2D�56�2=E2G@46D�C64:32?�6=�AC@8C2>2�>FD:42=4@?�F?�G@=F>6?�2EC@?25@C�F2?5@� A@C� >@E:G@D� 56� 5:DA@?:3:=:525� 56� 6DA24:@�� D6� E6?82� BF6� D:EF2C� =2� >6D2� 6?� F?2� A@D:4:W?� A@4@72G@C23=6�� 6=� :?86?:6C@� 56� =2� >6D2� 5636CQ� 42=4F=2C� 6=� G@=F>6?� 56=� D@?:5@� E6?:6?5@� 6?� 4F6?E2� � 6DE656DA=2K2>:6?E@�56�=2�A@D:4:W?�4@CC64E2

�'%'��+�' �*�-&��%�+�����%�1�$�+�F?BF6� 6?� 6=� EC232;@� 4@E:5:2?@� 6D� A@4@� 7C64F6?E6� �A@C� ?@� 564:C� 6IEC2@C5:?2C:@�� BF6� F?� @A6C25@C� AF6526D4@86C�=2�>6D2�4@?�=2�BF6�G2�2�C62=:K2C�DF�=23@C��?@�6DE2CQ?�56�>QD�2=8F?2D�4@?D:56C24:@?6D�2�E6?6C�6?4F6?E2�D:�D6�52�6=�42D@$2D�>6D2D�5:D6U252D�A2C2�=@D�5:C64E@D�?@ 5:7:6C6?��6?�>F49@D�42D@D��56>2D:25@�56�=2D�56�6DEF5:@��J2�BF66=�56D2CC@==@�J�=2�:?G6DE:824:W?�2A=:425@D�2�F?�E:A@�56�>6D2�24232�D:6?5@�FE:=:K25@�A2C2�6=�5:D6U@�56=�@EC@E:A@$2D� >6D2D� 56� 6DEF5:@� 5636?� A6C>:E:C� 2=� @A6C25@C� F?� 4@?EC@=� >FJ� AC64:D@� 56� =2� D6U2=� 56� 2F5:@�� ?@:>A@CE2?5@�56>2D:25@�6=�E:6>A@�BF6�AC64:D6�A2C2�4@?D68F:C�6DE6�4@?EC@=��?�=2D�>6D2D�56�5:C64E@��6=�724E@CE:6>A@� 6D�>FJ� G2=:@D@�� A@C� 6==@� 5636?� 6DE2C� 4@?463:52D� A2C2� BF6� 6=� @A6C25@C� AF652� C62=:K2C� 4F2=BF:6C2;FDE6�6?�6=�>6?@C�E:6>A@�A@D:3=6'EC@�724E@C�BF6�5636�E6?6CD6�6?�4F6?E2�6D�=2�C@3FDE6K�7SD:42�56�=2�>6D2��?�6=�Q>3:E@�56�F?�6DEF5:@��5@?56=2�>6D2�D:6>AC6�6DEQ�D:EF252�6?�F?�>:D>@�=F82C��J�5@?56�=@D�724E@C6D�2E>@D7RC:4@D�?@�C6AC6D6?E2?�?:?8X?AC@3=6>2�� =2� 42=:525�56� =@D�4@>A@?6?E6D�6=64ECW?:4@D�56� =2�>6D2�6D�F?@�56� =@D� 724E@C6D�56E6C>:?2?E6DA2C2� F?2� 6=644:W?� (6C@� D:� D6� EC2E2� 56� F?2� >6D2� A2C2� 5:C64E@D�� 6IAF6DE2� 2� 8@=A6D� 6?� 6=� EC2D=25@�� 2:?4=6>6?4:2D�>6E6C6@=W8:42D��2=�A@=G@�BF6�D6�=6�24F>F=2��J�2�>X=E:A=6D�:>AC6G:DE@D��=2�C6D:DE6?4:2�7SD:42�2E@5@D�6DE@D�6=6>6?E@D�D6CQ�F?@�56�=@D�724E@C6D�564:D:G@D�6?�=2�6=644:W?&@�92J�BF6�56;2CD6�56D=F>3C2C�A@C�F?2�42?E:525�6I286C252�56�4@?EC@=6D��2=8F?2D�56�=2D�>6;@C6D�>6D2D�FE:=:K252D�6?�=2�8C2324:W?�56�5:D4@D�>6>@C23=6D�5FC2?E6�=2�5R4252�56�=@D����J�AC:?4:A:@D�56�=@D�����E:6?6?F?2D� 4@?7:8FC24:@?6D� >FJ� D:>A=6D�� DF� D64C6E@� 6DEC:32� 6?� =2� 6IEC2@C5:?2C:2� 42=:525� 56� =@D� 4@>A@?6?E6DFE:=:K25@D�6?�DF�4@?DECF44:W?��?�6=�C:?4W?�@AF6DE@�D6�AF656?�6?4@?EC2C�2=8F?2D�>6D2D�4@?�AC64:@D�>FJ2EC24E:G@D� J� F?2D� 4@?7:8FC24:@?6D� >FJ� 4@>A=6;2D�� 4@?G:6?6� D6C� >FJ� 42FE@�� J2� BF6� A2C2� @7C646C� F?@D>@56=@D� E2?� 4@>A=6E@D� 2� F?@D� AC64:@D� 56>2D:25@� C65F4:5@D� 6=� 723C:42?E6� E:6?6� BF6� 6=:>:?2C� 4@DE@D� 562=8X?�=25@��6>2D:252D�G646D�6=�C6DF=E25@�6D�F?2�>6D2�BF6�52�F?�D@?:5@�A@3C6�J�D:?�567:?:4:W?��4@?�A@4@4F6CA@��C6DF=E25@�56�F?@D�4@>A@?6?E6D�J�F?2�4@?DECF44:W?�4@?�F?2�42=:525�>FJ�=:>:E252-?�724E@C�:>A@CE2?E6��BF6�6?�?:?8X?�42D@�5636�D6C�56D4F:525@�4F2?5@�D6�6764EX2�F?2�6=644:W?�56�>6D2�6D�BF6�6=�>@56=@�BF6�D6�6D4@;2�4F6?E6�4@?�DF7:4:6?E6D�6?EC252D�A2C2�=2�D6U2=�56�%"�"�,2?E@�D:�D6�EC2E2�56F?2� >6D2� A2C2� 5:C64E@� 4@>@� A2C2� 6DEF5:@�� 6=� 9649@� 56� 5:DA@?6C� 56� DF7:4:6?E6D� 6?EC252D� 5@?56� AF652C64:3:CD6�=2�D6U2=�56�:?DECF>6?E@D�G:2�%"�"�D6CQ�F?�52E@�A@D:E:G@��J2�BF6�6=�6?GS@�56�52E@D�A@C�6DE6�D:DE6>2D6� 92� 86?6C2=:K25@� 6?� >F49@D� 42>A@D�� D:6?5@� :>AC6D4:?5:3=6� 4@?E2C� 4@?� F?2� 4@?D@=2� 56� >6K4=2DAC6A2C252�A2C2�C64:3:C=@D�6�:?E68C2C=@D

�������������

(2B2�6<�=VC:4?��6<�?@6B25?B�56�C?>:5?��6<�2BB68<:CD2��6<�5:C6S25?B�56�C:CD6=2C�24VCD:4?C��I�@2B2�6<�27:4:?>25?6>� 86>6B2<�� <?C� 2<D2F?46C� C?>� 6<� V<D:=?� 6C<23U>� 56� 4E2<AE:6B� 6AE:@?� 56� C?>:5?��B24:2C� 2� 6<<?C� @?56=?C4?=@B?32B�4?=?��CE6>2��E>2�@:6J2�AE6�C6�6CDP�8B232>5?�?�B6@B?5E4:6>5?��?�3:6>�6;64ED2>5?�6>�5:B64D?��C2�DB2FPC�56�<2C�42;2C�24VCD:42C�5?>56�<2�=VC:42�25AE:6B6�<2�5:=6>C:U>�;ECD2�@2B2�6CD23<646B�<2�4?=E>:424:U>6>DB6�<2�=VC:42�I�6<�@V3<:4?�<�4?>?4:=:6>D?�@B64:C?�56�<?C�2<D2F?46C�AE6�>?C�C:BF6>�@2B2�6C4E492B�E>2�:>D6B@B6D24:U>�=EC:42<�2IE52��C:>>:>8E>2�5E52��2�<2�=6;?B�4?=@B6>C:U>�56�<2C�F:BDE56C�I�56764D?C�56�<2�=:C=2�>�B6CE=:52C�4E6>D2C��6<�2<D2F?J�6C�6<�6<6=6>D?�AE6�DB2>C7?B=2�<2�C6S2<�56�2E5:?�6>�F:3B24:?>6C�C?>?B2C��I56�<2�42<:525�56<�=:C=?�56@6>56�6<�@2B64:5?�56<�C?>:5?�B6@B?5E4:5?�4?>�6<�?B:8:>2<'DB?�6<6=6>D?�2�D6>6B�6>�4E6>D2�6C�6<�B64:>D?�5?>56�C6�E3:42>�<?C�2<D2F?46C��$2C�42;2C�24VCD:42C��6@6>5656�<2�6CDBE4DEB2�56�6CD2C�42;2C�6<�=2I?B�?�=6>?B�2@B?F6492=:6>D?�56�<2C�4E2<:5256C�56�<?C�2<D2F?46C+2=3:P>� C?>� 56� E>2� :=@?BD2>4:2� 564:C:F2� <?C� 7:<DB?C� C6@2B25?B6C� 56� 7B64E6>4:2C�� 6>� D?5?C� <?C� =?>D2;6C=E<D:F:2C�� <?C�=OC� 4?=E>6C� 9?I�� 4252� 8BE@?� 56� 2<D2F?46C� B64:36� CU<?� E>2� @?B4:U>� 56<� 6C@64DB?�=EC:42<�C68V>�<2C�42B24D6BQCD:42C�4?>4B6D2C�56�4252�2<D2F?J�<�7:>�3OC:4?�56�E>�2<D2F?J�6C�DB2C<252B�2<�2:B6�E>�=?F:=:6>D?�AE6�5636�4?BB6C@?>56B�4?>�<2C�5:76B6>4:2C�56F?<D2;6�AE6�<6�<<682>�56C56�6<�2=@<:7:425?B��>�B62<:525�6764DV2>�E>2�244:U>�:>F6BC2�2�<2�56�<?C�=:4BU7?>?C�AE6�DB2>C7?B=2>�E>2�F:3B24:U>�C?>?B2�6>�E>2�5:76B6>4:2�56�F?<D2;6��AE6�56>?=:>2=?C�C6S2<�56�2E5:?� 2IAE6�@B64:C2B��>?�?3CD2>D6��AE6�<2�C6S2<�56�2E5:?�@B?4656>D6�56�E>�=:4BU7?>?�6C�@?4?�:>D6>C2��6>DB6� �I� �=:<:F2D:?C���=:6>DB2C�AE6� <2C�C6S2<6C�AE6� B64:36�E>�2<D2F?J�@2B2� 7E>4:?>2B�@E656>�C6B�56<�?B56>�56�F2B:?C46>D6>2B6C�56�F2D:?C

�$+�-'��*��$��+)'�!&K%!�'*$2� =2I?BQ2� 56� 2<D2F?46C� AE6� C6� ED:<:J2>� @2B2� <2� B6@B?5E44:U>� =EC:42<� ?365646>� 2<� @B:>4:@:?� 56<6<64DB?=28>6D:C=?��<�@B:>4:@:?�56<�7E>4:?>2=:6>D? 56<�2<D2F?J�5:>O=:4?�C6�32C2�6>�<2�:>D6B244:U>�6>DB6�5?C42=@?C� =28>PD:4?C�� E>?� 7E6BD6� I� 6CD23<6� AE6� C6� 5636� 2<� :=O>� @6B=2>6>D6�� I� ?DB?�=OC� 5P3:<� I� F2B:23<686>6B25?� @?B� 6<� @2C?� 56� <2� C6S2<� 2E5:?� 2� DB2FPC� 56� <2� 3?3:>2� �<� C:CD6=2�56� CEC@6>C:U>�56�6CD2� 3?3:>2@6B=:D6� CE� =?F:=:6>D?� 924:2� 256<2>D6� I� 924:2� 2DBOC�� ?36564:6>5?� 2� <2C� 2DB244:?>6C� I� B6@E<C:?>6C:>CD2>DO>62C�6>DB6� <?C�5?C�42=@?C�=28>PD:4?C��CD2C�F:3B24:?>6C�56�<2�3?3:>2�=UF:<�C?>�DB2>C=:D:52C�2�<2=6=3B2>2� 56� 42BDU>� ?� @<OCD:4?� AE6� 6CDO� E>:52� 2� <2� 3?3:>2�� <<2=252� 4?>?� 56<� 2<D2F?J�� I� 6C� 8B24:2C� 2<=?F:=:6>D?�56<�4?>?�AE6�<2C�?>52C�C?>?B2C�C?>�DB2>C=:D:52C�2<�2:B6

$2�C6S2<�AE6�@B?4656�56<2=@<:7:425?B�4:B4E<2�@?B�<23?3:>2�=UF:<�� 56�=2>6B2AE6� 6CD2� 4?BB:6>D686>6B2� E>� 42=@?=28>PD:4?� F2B:23<6� AE6B6244:?>2�2>D6�6<� :>D6>C?42=@?� =28>PD:4?� 7:;?�4B625?� @?B� 6<� :=O>@6B=2>6>D6� 56<� 2<D2F?J�I� C6� DB25E46� 6>� 6<=?F:=:6>D?�56�F2:FP>�56<2� 3?3:>2� =UF:<� �CD23?3:>2�6CDO�CE;6D2�@?B�CE6HDB6=?� 6HD6B:?B� 2� E>4?>?� B25:25?B� 56� 42BDU>?� @<OCD:4?�� @B?D68:5?� @?B<2� 42B42C2� =6DO<:42� 56<2<D2F?J�� I� AE6� C6�=E6F6C?<:52B:2=6>D6� 4?>� <23?3:>2� =UF:<� $2@?<2B:525�56�6CD6�42=@?=28>PD:4?� �&?BD6� ?� *EB�56@6>56� 56� <2� 5:B644:U>56<� 7<E;?� 6<64DBU>:4?� AE692I2� 6>� 4252� =?=6>D?6>� 6<� :>D6B:?B� 56� <23?3:>2� �E2>5?� 6<� 7<E;?56�<2�4?BB:6>D6�42=3:2�56

5:B644:U>��<2�@?<2B:525�56<�42=@?�=28>PD:4?�D2=3:P>�42=3:2�56�C6>D:5?��6CD?�?B:8:>2�AE6�<2�3?3:>2�=UF:<�C6=E6F2�6>�<2�5:B644:U>�?@E6CD2�E2>5?�6<�7<E;?�56�<2�4?BB:6>D6�56�2E5:?�6C�@?C:D:F?��6<�4?>?�56<�2<D2F?J�C6�56C@<2J2�924:2�27E6B2��=:6>DB2CAE6�4E2>5?�PCD6�6C�>682D:F?�6<�4?>?�C6�56C@<2J2�924:2�6<�:>D6B:?B��56�6CD2�=2>6B2�E>�2<D2F?J�B6@B?5E46�6>6<� 2:B6� <2C� 4?=@B6C:?>6C� I� B2B:7:424:?>6C� AE6� ?B:8:>2>� E>� C?>:5?�� C:8E:6>5?� <2C� F2B:24:?>6C� 56� F?<D2;6� 6:>D6>C:525�AE6�B64:36�56<�2=@<:7:425?B�=65:2>D6�<2�C6S2<�56�2E5:?��>�<2�7:8EB2� �C6�@E656�F6B�<2�4?>CD:DE4:U>DQ@:42�56�E>�2<D2F?J�6<64DB?5:>O=:4?(E6CD?� AE6� 6<� :=O>� @6B=2>6>D6� 6C� 6<� AE6� @B?@?B4:?>2� 6<� 7<E;?� =28>PD:4?� 6CD23<6� AE6� @6B=:D6� 6<7E>4:?>2=:6>D?�56<�2<D2F?J��<2�@?D6>4:2�56�C2<:52�56<�=:C=?�CE6<6�C6B�@B?@?B4:?>2<�2<�D2=2S?�56�6CD6�:=O>�4EI?�@6C?�?C4:<2�6>DB6�<?C����I�<?C������8B2=?C�6� D?52C� 7?B=2C�� 6<� D2=2S?� 56� E>� 2<D2F?J� 5:>O=:4?� C6� 56D6B=:>2� @?B� 6<� 5:O=6DB?� 56<� 4?>?�� 6H@B6C25?86>6B2<=6>D6�6>�@E<8252C��I�@E656�:B�56C56�E>2�?�5?C�@E<8252C�����U����==��92CD2�<2C� ��@E<8252C�56�<?C2<D2F?46C�EC25?C�6>�<2�4?>CDBE44:U>�56�B64:>D?C�AE6�B6@B?5E46>�7B64E6>4:2C�=EI�32;2C$2�5:B644:?>2<:525�56�E>�2<D2F?J�4E2>5?�6=:D6�E>�C?>:5?�56@6>56�56�<2�B6<24:U>�6>DB6�6<�D2=2S?�56<�4?>?�I<2� <?>8:DE5�56� <2�?>52�C?>?B2�AE6�C6�6CDP�6=:D:6>5?��>� <2C�32;2C� 7B64E6>4:2C� <2C� <?>8:DE56C�56�?>52�C?>=2I?B6C�C:� <2C�4?=@2B2=?C�4?>�6<� D2=2S?�56<�4?>?��I�6<�2<D2F?J�6=:D6�6<�C?>:5?�6>�D?52C�5:B644:?>6C��*E42B24D6BQCD:42�5:B644:?>2<�6C�56�D:@?�?=>:5:B644:?>2<�� =65:52� AE6� <2C� 7B64E6>4:2C� 2E=6>D2>�� CEC� B6C@64D:F2C� <?>8:DE56C� 56� ?>52� F2>� 24?BDO>5?C6�� I� <25:B644:?>2<:525� 56<� C?>:5?� AE6� 6=:D6� 6<� 2<D2F?J� C6� 6CDB6492� 8B25E2<=6>D6� �E2>5?� <<682=?C� 2� <2C� 2<D2C7B64E6>4:2C� <2C� <?>8:DE56C� 56� ?>52� CE6<6>� C6B� =6>?B6C AE6� 6<� D2=2S?� 56<� 4?>?�� @?B� 6CD6� =?D:F?� <?C2<D2F?46C� 6C@64:2<:J25?C� 6>� B6@B?5E4:B� D?>?C� 28E5?C� @B6C6>D2>� E>2� 5:B64D:F:525� =EI� 24EC252�� C:� >?C56C@<2J2=?C� 56<� 46>DB?� 56<� 6;6� 56� E>� 2<D2F?J� 56� 28E5?C� 2� ?DB?� <E82B� C:DE25?� @6B@6>5:4E<2B=6>D6� �2� ��8B25?C�56<�6;6��@6B4:3:B6=?C�E>2�@PB5:52�=EI�>?D23<6�6>�D?52C�<2C�2<D2C�7B64E6>4:2C��56<�?B56>�56����5�

�$+�-'��*�(!�1'�$��+)!�'*�0�����'&��&*��')'DB?�D:@?�56�2<D2F?J�AE6�C6�ED:<:J2�?42C:?>2<=6>D6�6>�<?C�C:CD6=2C�56�2=@<:7:424:U>�6C�6<�@:6J?6<P4DB:4?�*632C2�6>�<2C�@B?@:65256C�AE6�@?C66>�4:6BD?C�D:@?C�56�4B:CD2<��4?>?4:5?C�4?=?�4B:CD2<6C�3:=?B7?C�AE6��2<�C6B567?B=25?C�@?B�2<8E>2�7E6BJ2��86>6B2>�E>2�5:76B6>4:2�56�D6>C:U>�6>DB6�<?C�6HDB6=?C�56<�=:C=?�4B:CD2<�(?B?DB?�<25?��C:�C6�2@<:42�E>2�4?BB:6>D6�6<P4DB:42�2�<?C�6HDB6=?C�56�6CD6�=2D6B:2<�4B:CD2<:>?��PCD6�C6�6H@2>56�I�C6

4?>DB26� C:8E:6>5?� <2� @?<2B:525� 56� <2� 4?BB:6>D6� AE6� <?2DB2F:6C2�>�<2�7:8EB2���C6�@E656�F6B�6<�6CAE6=2�AE6�C6�C:8E6�6>�<24?>CDBE44:U>�56�E>�2<D2F?J�@:6J?6<P4DB:4?��E2>5?�<2�C6S2<56�2E5:?�<<682�56<�2=@<:7:425?B��6<�4B:CD2<�3:=?B7?�C6�4EBF2C:8E:6>5?�<2C�?C4:<24:?>6C�6<P4DB:42C��I�6CD6�=?F:=:6>D?�6CDB2>C=:D:5?� 2<� 5:27B28=2� 56<� 2<D2F?J� �<� 6=@<6?� 56� 6CD?C

2<D2F?46C� C6� <:=:D2�� @?B� 6<� =?=6>D?�� 2� <2B6@B?5E44:U>� 56� <2C� 2<D2C� 7B64E6>4:2C�� 6C� @?B6<<?�AE6�<?C�@?56=?C�6>4?>DB2B��V>:42=6>D6��6>DB?=@6D2C� 56CD:>252C� 2� B6@B?5E4:B� D?>?C28E5?C�� I2� AE6� DB232;2>5?� 4?>� 7B64E6>4:2C6<6F252C� 6CD?C� 2<D2F?46C� C?>� =EI� 67:4:6>D6C� I@B6C6>D2>�E>2�5:CD?BC:U>�=EI�32;2 2I�AE6�=6>4:?>2B�<?C�2<D2F?46C�6<64DB?CDOD:4?C?�56�4?>56>C25?B� ��:8����2E>AE6�CE�ED:<:J24:U>@BO4D:42�C6�<:=:D6�2�C:CD6=2C�9:7:�56�6H46@4:U>�I2�2<8V>�C:CD6=2�56�5:B64D?�6C@64:2<�@2B2�=VC:424<OC:42� �CD?C� 2<D2F?46C� 6CDO>� 4?>CD:DE:5?C� @?B5?C� <O=:>2C� =6DO<:42C� C6@2B252C� 6>DB6� C:� @?BE>2� <O=:>2� 2:C<2>D6�� @2B2� C6B� 24D:F25?C�� C62@<:42� E>2� 5:76B6>4:2� 56� D6>C:U>� 6>DB6� <2C� 5?C

<O=:>2C�56�=6D2<��56<�?B56>�56�92CD2������F?<D:?C��4B62>5?�2CQ�6>DB6�6<<2C�E>�@?D6>D6�42=@?�6<64DB?CDOD:4?$2� C6S2<� 2E5:?� AE6� @B?F:6>6� 56<� 2=@<:7:425?B� C6� CE@6B@?>6� 2� <2� D6>C:U>� 7:;2� D6>C:U>� 56� @?<2B:J24:U>�� 56=2>6B2�AE6�C6�CE=2�?�B6CD2�56�<2�=:C=2��52>5?�<E82B�2�AE6�<2C�<O=:>2C�=6DO<:42C�C6�2DB2:82>�?�B6492J6>6>DB6�C:�I��6>�4?>C64E6>4:2��C6�=E6F2>�C:8E:6>5?�<2C�F2B:24:?>6C�56�<2�C6S2<��<2�F:3B24:U>�56�<2C�<O=:>2C�C6DB2>C=:D6� 2<� 2:B6� 86>6B2>5?� <2C� ?>52C� C?>?B2C� �>� <?C� 2<D2F?46C� 6<64DB?CDOD:4?C� 6<� 56C@<2J2=:6>D?� 56<5:27B28=2�6C�=EI�B65E4:5?�CD?��E>:5?�2�<2�<:86B6J2�56<�=:C=?��@B?@?B4:?>2�E>2�=28>Q7:42�B6C@E6CD2�2�<2C�C6S2<6C�DB2>C:D?B:2C��56=OC�6CD?C� 2<D2F?46C� >?� ED:<:J2>� 42;2� 56� B6C?>2>4:2�� @?B� <?� AE6� <2� C6S2<� =EC:42<� 6CDO� 6H6>D2� 56� 4E2<AE:6B4?<?B24:U>� *E� 6<6F25?� 4?CD6�� <2� :=@652>4:2� AE6� @B6C6>D2>� �AE6� ?3<:82� 2� DB232;2B� 4?>� 2=@<:7:425?B6C6C@64:2<6C���6<�8B2>�D2=2S?�56�6CD?C�2<D2F?46C��I�CE�56<:4252�4?>CD:DE4:U>��<?C�4?>F:6BD6�6>�@?4?�@BO4D:4?C@2B2�ED:<:J2B<?C�6>�C:CD6=2C�56�2=@<:7:424:U>�56�@?D6>4:2��2�@6C2B�56�CE�6H46@4:?>2<�42<:525

�'%'�+)���"���$��$+�-'1��$��+)'�!&K%!�'02�AE6�6>�<2�@BO4D:42�<2�=2I?B�@2BD6�56�2<D2F?46C�6H:CD6>D6C�6>�6<�=6B425?�C?>�56�D:@?�5:>O=:4?��F2=?C�2B676B:B>?C�6>�256<2>D6�2�6CD6�D:@?�56�2<D2F?J�56�7?B=2�6H4<EC:F2(2B2�4?>C68E:B� <2�=OH:=2�4?>F6BC:U>�56�6>6B8Q2�=64O>:42��F:3B24:U>�56<�4?>?��6>�6>6B8Q2�24VCD:42�5636@B?4EB2BC6� <2�=2I?B� CE@6B7:4:6� 56� 4?>D24D?� 6>DB6� 6<� 4?>?� I� 6<� 2:B6� AE6� <?� B?562�� I2� AE6� <2�=2C2� 56� 2:B6F:3B2BO�6>�C6>D:5?�<?>8:DE5:>2<�56�256<2>D6�924:2�2DBOC�>?�56�2BB:32�2�232;?�>:�56�7?B=2�<2D6B2<��C6BQ2�<U8:4?ED:<:J2B� 4?=?� 5:27B28=2� 56<� 2<D2F?J� E>2� <O=:>2� 6HD6>C2� I� @<2>2�� @6B?� 6CD2� :562�� 6>C2I252� @?B� 2<8V>723B:42>D6�� >?�=6;?B2�6>� <2�@BO4D:42�6<� B6>5:=:6>D?�56<�2<D2F?J��E2>5?�6<�5:27B28=2�6C� <?�32CD2>D6� <:86B?@2B2�B6@B?5E4:B� 7:6<=6>D6� <2C�2<D2C� 7B64E6>4:2C��>?�D:6>6� <2�B:8:56J�>646C2B:2�@2B2�B6@B?5E4:B�3:6>� <2C�32;2C7B64E6>4:2C�$2�C?<E4:U>�56�4?=@B?=:C?�6C�<2�25?@4:U>�56�<2�7?B=2�4U>:42�6>�6<�5:27B28=2�$2�6H@6B:6>4:256�=V<D:@<6C� 723B:42>D6C� 92� 56=?CDB25?� AE6� 6CD2� 7?B=2�@6B=:D6� 24D:F2B� E>� F?<E=6>�56�2:B6� 4?>C:56B23<6�4?>C6BF2>5?�2<�D:6=@?��E>2�B6<24:U>�4?>F6>:6>D6�6>DB6�7E6BJ2�I�@6C?(2B2� <2�723B:424:U>�56<�4?>?�C6�EC2>�@2@6<6C�I�@<OCD:4?C�DB2D25?C�6C@64:2<=6>D6�@2B2�2E=6>D2B�CE�B:8:56J��E2>D?�=OC�BQ8:5?�6C�6<�4?>?��C6�?3D:6>6�=2I?B�@?D6>4:2�24VCD:42��@6B?�@6?B�B6C@E6CD2�6>�7B64E6>4:2C�*:�C6ED:<:J2>�=2D6B:2<6C�=EI�3<2>5?C��D:@?�@2@6<�C642>D6��C6�=6;?B2�6>�<2�B6C@E6CD2�2�7B64E6>4:2C�=65:2C�?�32;2C�@6B?� C6� B6CDB:>86� <2� B6C@E6CD2� 2� <2C� 7B64E6>4:2C� =OC� 6<6F252C� �C� @?B� 6CD?� AE6� @?56=?C� ?3C6BF2B� <25:76B6>4:2�56�2C@64D?�AE6�@B6C6>D2>�<?C�2<D2F?46C�AE6�C6�56CD:>2>�2�B6@B?5E4:B�>?D2C�8B2F6C 4?>?�56�8B2>D2=2S?� 723B:425?� 4?>� =2D6B:2<� =EI� BQ8:5?�� I� <?C� 56CD:>25?C� 2� >?D2C� 28E52C 56� D2=2S?� @6AE6S?� I4?>CDBE:5?C�4?>�E>�=2D6B:2<�=EI�<:86B?*:�@E5:PB2=?C�?3C6BF2B�<2C�J?>2C�56<�4?>?�AE6�C6�=E6F6>��2<�C6B�6H4:D25?�6<�2<D2F?J�@?B�E>2C�7B64E6>4:2C

5252C�� F6BQ2=?C� AE6� 2<� C6B<6� 2@<:4252C7B64E6>4:2C� 6>� D?B>?� 2� <?C� ''� J� C6� @?>5BQ26>�F:3B24:U>�<2�J?>2�=OC�6HD6B>2�56<�4?>?�*:�<6C?>�2@<:4252C�7B64E6>4:2C�28E52C����#9J�?�=OC�<2� J?>2� AE6� F:3B2BQ2� C6BQ2� <2� =OC� @BUH:=2� 2<46>DB?�56<�4?>?��CD?�>?C�6H@<:42�6<�@?BAEP�56<8B2>� D2=2S?� AE6� D:6>6>� <?C� 4?>?C� 56� <?C2<D2F?46C� 56CD:>25?C� 2� <2� B6@B?5E44:U>� 56� <2C>?D2C� 32;2C��=:6>DB2C� AE6� @2B2� <2C� >?D2C� 2<D2C32CD2�E>2�@6AE6S2�CE@6B7:4:6�56�4?>D24D?�4?>�6<2:B6��E2>D?�=2I?B�6C�6<�D2=2S?�56<�4?>?��=OC2=@<:2� 6C� <2� B6C@E6CD2� @?B� 6<� 6HDB6=?� 56� <?C8B2F6C�� 4E2>D?� =6>?B� 6C� CE� D2=2S?�� =OC72F?B64:52C�C6�F6>�<2C�>?D2C�28E52C(?B� D?5?� 6<<?�� 6>� D?52C� <2C� :>CD2<24:?>6C� 56B6@B?5E44:U>� =EC:42<� C6� DB232;2� 4?>� 5:CD:>D2CE>:5256C� 56� 2<D2F?46C�� 4?>� 5:CD:>D2C42B24D6BQCD:42C� I� D2=2S?C�� 56CD:>25?C� 2B6@B?5E4:B� E>� 8BE@?� 56� 7B64E6>4:2C56D6B=:>252C��I�>?�D?5?�6<�6C@64DB?�D?>2<

�$+�-'��*�(�)����"�*��)��,�&�!�*(2B2�4?>C68E:B�E>�2<D2F?J�67:4:6>D6�56CD:>25?�2�B6@B?5E4:B�32;2C�7B64E6>4:2C��C6�B6AE:6B6�AE6�PCD6�=E6F2�E>F?<E=6>�56�2:B6�4?>C:56B23<6�(2B2�6<<?�6<�4?>?�?�5:27B28=2�56<�2<D2F?J�5636�6764DE2B�E>�B64?BB:5?�32CD2>D62=@<:?��I�<2�CE@6B7:4:6�56<�=:C=?�5636BO�D6>6B�E>�OB62�4?>C:56B23<6��>�<2�=2I?BQ2�56�C:CD6=2C�56�@?D6>4:2<?C�2<D2F?46C�@2B2�8B2F6C�D:6>6�6<�=?D?B�56�D:@?�5:>O=:4?�I�<?C�5:27B28=2C�4U>:4?C�56�E>�3E6>�D2=2S?��6>:>8<PC�C?>�4?>?4:5?C�4?=?�����

�>�<2�7:8EB2���C6�@E656�F6B�E>�2<D2F?J�56�6CD6�6CD:<?��>�6<<2�C6�?3C6BF2�6<�4?>C:56B23<6�D2=2S?�56<�=?D?B�:=@B6C4:>5:3<6�@2B2�=?F6B�<2�6<6F252�CE@6B7:4:6�AE6�D:6>6�6<�4?>?�$2�B25:24:U>�C?>?B2�56�6CD?C�2<D2F?46C�6C?=>:5:B644:?>2<�>�2<8E>?C�C:CD6=2C�56�2=@<:7:424:U>�C6�ED:<:J2>�@2B2�<2C�32;2C�7B64E6>4:2C�2<D2F?46C�56�DB?=@6D2��563:5?�2CE�2<D2�67:4:6>4:2�C?>�4252�5Q2�=2C�ED:<:J25?C�6>�D?5?C�<?C�C:CD6=2C�=E<D:F:2$?C� 2<D2F?46C�56� DB?=@6D2� C?>�56>?=:>25?C� D2=3:P>�6H@?>6>4:2<6C�� 6>� B676B6>4:2� 2<� 8B25?�56�4EBF2DEB2AE6� @B6C6>D2� <2� CE@6B7:4:6� 56<� B25:25?B�� 4?=?� C6� @E656� F6B� 6>� <2� 7:8EB2� �� $?C� 2<D2F?46C� 6H@?>6>4:2<6C@6B=:D6>�E>�=6;?B�4?>DB?<�6>�<2�5:B644:U>�AE6�D?=2�6<�C?>:5?��C:�<?C�4?=@2B2=?C�4?>�<2C�42;2C�24VCD:42C�4?>G??76BC� =?>D25?C� 6>� CE� :>D6B:?B� $2� 42B24D6BQCD:42� 5:B644:?>2<� 56� <?C� 2<D2F?46C� 6H@?>6>4:2<6C� F:6>656D6B=:>252�@?B�6<�D2=2S?�I�<2�4EBF2DEB2�56�<2�DB?=@6D2��=OC�AE6�@?B�<2�@?D6>4:2�56<�=?D?B��I�<2C�DB?=@6D2C4?>�E>2�?36BDEB2�2=@<:2�=2>D:6>6>�E>2�6<6F252�5:B64D:F:525��2<�=2B86>�56�<2�@?D6>4:2�AE6�@?C62>$?C� 2<D2F?46C� 6H@?>6>4:2<6C� C?>� :>5:425?C� @2B2� 4E3B:B� 6F6>D?C� 6>� <?C� AE6� <2C� 32;2C� 7B64E6>4:2C� 5632>B64?BB6B�<2B82C�5:CD2>4:2C$2�:=@652>4:2�24VCD:42�6>�6< :>D6B:?B�56�E>�2<D2F?J�56�DB?=@6D2�6C�@B?@?B4:?>2<�2�<2�:=@652>4:2�AE6�D6>82�6<5:27B28=2�56<�=?D?B��63:5?�2� <2�@B?@:2�4?>CD:DE4:U>�56�6CD?C�2<D2F?46C�� <2�6H4EBC:U>�AE6�@E656�9246B�6<5:27B28=2�6C�B65E4:52��@6B?�6C�@B64:C?�AE6�PCD2�@B?5EJ42�E>2�6<6F252�@B6C:U>�24VCD:42��6>�<2�82B82>D2�56�<2DB?=@6D2�<2�:=@652>4:2�6C�=E49?�=OC�6<6F252�AE6�6>�<2�3?42��4?=?�<2�:=@652>4:2�24VCD:42�6C�:>F6BC2�56<2�@B6C:U>�24VCD:42�B6CE<D2�AE6�<2�@B6C:U>�C?>?B2�6C�C:6=@B6�=E49?�=OC�6<6F252�6>�<2�3?42�56�<2�DB?=@6D2AE6�6>�<2�82B82>D2��5?>56�6<�5:27B28=2�86>6B2�<2C�F:3B24:?>6C�C?>?B2C��7:8EB2���

(?B� 6CD?�� C:� <2� B6<24:U>� 56CE@6B7:4:6C�6>DB6�<2�82B82>D2�I�<2�3?42�56�E>�2<D2F?J�6H@?>6>4:2<�6C��@?B�6;6=@<?��56� �2�����32CD2BO�4?>�E>=?D?B�42@2J�56�@B?5E4:B���.�56�@B6C:U>�C?>?B2�@2B2�?3D6>6B� ���.�2�<2�C2<:52�56�<2�DB?=@6D2��CD2�=:C=2B6<24:U>� 56� CE@6B7:4:6C�� 256=OC� 56<� D2=2S?� AE6� D6>82� E>� 2<D2F?J� 56� DB?=@6D2�� 56D6B=:>2� 4E2<� 6C� <27B64E6>4:2�=Q>:=2�AE6�@E656�C6B�B6@B?5E4:52�2@B?F6492>5?�<2C�4E2<:5256C�7QC:42C�56< C:CD6=2�6H@?>6>4:2<�I2�AE6�@?B�5632;?�56�6CD2�7B64E6>4:2��2E>AE6�6<�5:27B28=2�<2�B6@B?5EJ42��>?�D6>5BO� <E82B� <2�2=@<:7:424:U>24VCD:42�6>�6<�:>D6B:?B�56�<2�DB?=@6D2��CD2�7B64E6>4:2��<<2=252�7B64E6>4:2�56�4?BD6��5636�6CD2B�@6B764D2=6>D64?>DB?<252��I2�AE6�C:�C6�6>FQ2>�7B64E6>4:2C�@?B�5632;?�56�PCD2�924:2�E>�2<D2F?J�6H@?>6>4:2<�>?�>?C�C6BF:BO@2B2�>252��I�256=OC�@?>5B6=?C�6>�@6<:8B?�<2�:>D68B:525�7QC:42�56<�5:27B28=2�6>�6<�2<D2F?J

�$+�-'��*�(�)���$+�*��)��,�&�!�*�?>?4:5?C� @?B� CE� >?=3B6� :>8<PC� 4?=? ������� �� <?C� 2<D2F?46C� @2B2� 28E5?C� @E656>� D?=2B� 5?C� 7?B=2C5:CD:>D2C� (?B� E>� <25?� 6CDO>� <?C� 2<D2F?46C� 56� 4V@E<2�� 56� D:@?� 5:>O=:4?�� I� @?B� ?DB?� <2C� DB?=@6D2C6H@?>6>4:2<6C��AE6�@E656>�<<6F2B�6<�=?D?B�6<64DB?5:>O=:4?�?�3:6>�@:6J?6<P4DB:4?

�>� <2 7:8EB2� �� C6� @E656� ?3C6BF2B� E>� 6CAE6=2� 56� 4?=?� 6CDO>� 4?>CD:DE:5?C� <?C� 2<D2F?46C� @2B2� 2<D2C7B64E6>4:2C�56� D:@?�5:>O=:4?��?=?�C6�@E656�F6B�� <2�3?3:>2�C6�92<<2� :>=6BC2�6>�6<�@?D6>D6� :=O>� 7:;?��I�6<5:27B28=2� C6� 6>4E6>DB2� 6>� 6<� :>D6B:?B� 56<� =?D?B�� I� >?� 6>� CE @2BD6� 6HD6B>2� 4?=?� CE4656� 4?>� <?C� ?DB?C2<D2F?46C�5:>O=:4?C��<�@?4?�6C@24:?�56�AE6�5:C@?>6�6CD6�5:27B28=2�>?�B6@B6C6>D2�>:>8V>�@B?3<6=2��I2�AE6@2B2�B6@B?5E4:B�2<D2C�7B64E6>4:2C�6C�CE7:4:6>D6�4?>�AE6�PCD6�B62<:46�6H4EBC:?>6C�=EI�4?BD2C��2<�4?>DB2B:?�56�<?AE6�CE4656�4?>�<?C�2<D2F?46C�5:>O=:4?C�56�8B2F6C� 2I�AE6�B642<42B�AE6�6>�?DB?C�42C?C�6<�5:27B28=2�@E65692<<2BC6�6>�<2�@2BD6�6HD6B:?B�56<�=?D?B��B25:2>5?�5:B64D2=6>D6�6<�C?>:5?��6CD?�6C�=EI�4?=V>�6>�<?C ������� 56CD:>25?C�2�42;2C�56�2<D2�7:56<:525���:8EB2����CD?C�5:27B28=2C�CE6<6>�C6B�=6DO<:4?C��I2�AE6�CU<?�<2C�2<624:?>6C�56�=6D2<6C�@6B=:D6>�<2�4?>CDBE44:U>�56

5:27B28=2C� B6C:CD6>D6C� I� =EI� 56<825?C�� <?C� =OC2564E25?C�@2B2�B6@B?5E4:B�2<D2C�7B64E6>4:2C�>� <2� 7:8EB2���C6�@E656�F6B�56� 7?B=2�6CAE6=2D:J2524?=?� 6CDO� 4?>CDBE:52� E>2� DB?=@6D2� 56� 28E5?C� 4?>=?D?B�@:6J?6<P4DB:4?��C:�3:6>�6C�>?B=2<�6>4?>DB2B�6>�6<=6B425?�� :>5:CD:>D2=6>D6�� DB?=@6D2C� 56� 28E5?C� 4?>=?D?B6C� 5:>O=:4?C� $2�=2I?B� F6>D2;2� AE6� CE@?>6� 6<6=@<6?�56�6CD?C�2<D2F?46C�6H@?>6>4:2<6C�6C�6<�4?>DB?<@E>DE2<�56<�O>8E<?�56�5:C@6BC:U>�56<�C?>:5?�+?52C�<2CDB?=@6D2C� 6C@64:7:42>� 4E2<� 6C� 6<� O>8E<?� 6>� AE65:CDB:3EI6>� <2C� 2<D2C� 7B64E6>4:2C� B6C@64D?� 2� CE� 6;6<?>8:DE5:>2<�� D2>D?� 9?B:J?>D2<� 4?=?� F6BD:42<=6>D6�CD?C�O>8E<?C�56�5:C@6BC:U>�C?>�5:CD:>D?C�E>?�56�?DB?�I2�AE6�6C�4?>F6>:6>D6�AE6�C62�2CQ��>�6764D?��6>�E>4?>4:6BD?�� 6<� @V3<:4?� 6CDO� C:DE25?� 9?B:J?>D2<=6>D6B6C@64D?� 2� <2� C:DE24:U>� 56� <?C� 2<D2F?46C�� @?B� 6<<?:>D6B6C2�AE6�<2�4?36BDEB2�9?B:J?>D2<�C62�=2I?B�AE6�<2F6BD:42<�(?B�?DB?�<25?��E>2�4?36BDEB2�F6BD:42<�6H46C:F2@E656� 6>F:2B� 6<� C?>:5?� 924:2� <E82B6C� 5?>56� >?:>D6B6C6��924:2�6<�6C@24:?�23:6BD?���U�AE6�B63?D6�4?>DB26<�D649?�?�6<�CE6<?�56�E>�<?42<�46BB25?��@6B;E5:42>5?�<242<:525�C?>?B2�4?>�=V<D:@<6C�B6F6B36B24:?>6C$?C� O>8E<?C� 56� 5:C@6BC:U>� 4?>� AE6� CE6<6>� DB232;2B=OC�4?=V>=6>D6�<?C�2<D2F?46C�6H@?>6>4:2<6C�AE6�C66>4E6>DB2>�6>�6<�=6B425?��6CDO>�2<B6565?B�56� <?C���8B25?C� 56� 5:7EC:U>� 9?B:J?>D2<� I� <?C� ��� 8B25?C� 565:7EC:U>� F6BD:42<� �C� @?C:3<6� 6>4?>DB2B�� >?� ?3CD2>D6�2<D2F?46C� 4?>� E>?C� O>8E<?C� 56� 5:C@6BC:U>� =OC6CDB649?C��CD?�@6B=:D6�4?>46>DB2B� <2�6>6B8Q2�6>�E>2CE@6B7:4:6� =OC� B65E4:52�� I� 6>F:2B� 6<� C?>:5?� 2� =2I?B

5:CD2>4:2'DB2� 42B24D6BQCD:42� >?D23<6� 56� <?C� 2<D2F?46C� 6H@?>6>4:2<6C� 6C� <2� 5:CDB:3E4:U>� E>:7?B=6� 56� 7B64E6>4:2C� @?BD?52� <2�CE@6B7:4:6�232B4252��6C�564:B��C:� D6>6=?C�E>�2<D2F?J�56� DB?=@6D2�AE6�@?C66�E>�O>8E<?�56�5:7EC:U>56D6B=:>25?��@?56=?C�6CD2B�C68EB?C�AE6�56>DB?�56�<2�CE@6B7:4:6�232B4252�<2�5:CDB:3E4:U>�56�7B64E6>4:2C�6CB68E<2B�I�4?>CD2>D6��CD?�>?�CE4656�4?>�<?C�2<D2F?46C�56�5:27B28=2�4U>:4?��I2�AE6�4?>�6<<?C�<2C�>?D2C�=OC28E52C� C6� 6C4E492>� 4?>�=OC� :>D6>C:525� 6>� 6<� 46>DB?� 56<� 6;6� 56<� 2<D2F?J�� I� 2�=65:52� AE6� >?C� 2<6;2=?C564B646>�6>�2=@<:DE5

�$+�-'��*�(�)���)��,�&�!�*�%��!�*�>� <?C�=?>D2;6C�56�C:CD6=2C�56�@?D6>4:2�@?56=?C�4?>C:56B2B�AE6� <2C� 7B64E6>4:2C�=65:2C�C?>� <2C�AE6�C66>4E6>DB2>�6>DB6�<?C� ������� J�I�<?C����������� J��6<�=2B86>�56@6>56�56�<2C�42B24D6BQCD:42C�4?>4B6D2C�56<?C� 2<D2F?46C�6=@<625?C� $2� B6@B?5E44:U>�56�6CD2C� 7B64E6>4:2C�6C�56�E>2� :=@?BD2>4:2�42@:D2<�� I2�AE6�6>6CD2�32>52�C6�6>4E6>DB2>� <?C� 7?B=2>D6C�56� <2C�F?42<6C�� <?C�2B=U>:4?C�56� <2�=2I?BQ2�56� :>CDBE=6>D?C�56@6B4EC:U>��I�<2C�>?D2C�7E>52=6>D2<6C�56�E>�8B2>�@?B46>D2;6�56�:>CDBE=6>D?C�=EC:42<6C(2B2�B6@B?5E4:B�<2C�7B64E6>4:2C�=65:2C�C6�ED:<:J2>�D2>D?�<?C�2<D2F?46C�5:>O=:4?C�4?>�5:27B28=2�4U>:4?�4?=?<?C� =?D?B6C� 4?>� DB?=@6D2�� 2=3?C� C:CD6=2C� 52>� E>� B6CE<D25?� 4?BB64D?� DB232;2>5?� 4?>� 6CD2� 82=2� D?>2<��:8EB2� ��

�>�<2C�7B64E6>4:2C�=65:2C��<2�5:B64D:F:525�56<C?>:5?�>?�6C� D2>�24EC252�4?=?�6>� <2C�2<D2C7B64E6>4:2C� &?� ?3CD2>D6�� I� 4?=?� <2:>D6<:8:3:<:525� =EC:42<� 56@6>56� 3OC:42=6>D656�6CD2C�7B64E6>4:2C��6C� :=@?BD2>D6�5:C@?>6B56�E>2�4?36BDEB2�=EI�6AE:<:3B252�@2B2�D?5?C<?C�D?>?C�=65:?C

�!$+)'*�����)��,�&�!�*�E2>5?� C6� 28BE@2>� 6>� E>2� 42;2� 24VCD:42F2B:?C�2<D2F?46C�6C@64:2<:J25?C�6>�B6@B?5E4:BE>?C� =OB86>6C� 56� 7B64E6>4:2� 4?>4B6D?C�� 6C:=@?BD2>D6� AE6� 4252� E>?� B64:32� V>:42=6>D66CD2C� 7B64E6>4:2C� @2B2� <2C� AE6� 92� C:5?

4?>463:5?� *:� @?B� E>?� 56� 6CD?C� 2<D2F?46C� 4:B4E<2>� 7B64E6>4:2C� 7E6B2� 56<� =2B86>� 2C:8>25?�� C6� @B?5E4:BO:>6F:D23<6=6>D6�E>2�5:CD?BC:U>��6� :>4<EC?�@E656�C6B�42EC2�56�56C@6B764D?C�6>�6<�C:CD6=2�=?D?B�56<�=:C=?2<D2F?J� �>� 6CD?C� 42C?C� C6� =2<82CD2BO� 6>6B8Q2�� I� 6<� B6>5:=:6>D?� 56<� 4?>;E>D?� 5:C=:>E:BO� 4E2>5?�� @?B6;6=@<?��<<68E6>�2<�DG66D6B�C6S2<6C�56�32;2C�7B64E6>4:2C�U�2<�G??76B�7B64E6>4:2C�56=2C:25?�2<D2C��&:>8E>?56� <?C� 5?C� 2<D2F?46C� DB2>C7?B=2BO� 6CD2� 6>6B8Q2� C?3B2>D6� 6>� 6>6B8Q2� C?>?B2�� I� 2@2B646BO� 256=OC� E>25:CD?BC:U>�56�D:@?�<:>62<(?B� 6CD?C� =?D:F?C�� 6C� @B64:C?� 5:F:5:B� <2� C6S2<� 56� 2E5:?� 6>� 8BE@?C� 56� 7B64E6>4:2C�� AE6� C6� 5:B:8:BO>@?CD6B:?B=6>D6�924:2�6<�2<D2F?J�6C@64:2<:J25?�6>�B6@B?5E4:B<2C��?@D:=:J2>5?�2CQ�6<�B6>5:=:6>D?�56�PCD?C*68V>�6<�>:F6<�56�<2�C6S2<�2E5:?�C?3B6�6<�4E2<�DB232;2>�<?C�7:<DB?C��PCD?C�@E656>�5:F:5:BC6�6>�@2C:F?C�?�24D:F?C�<?C�@B:=6B?C�24DV2>�C?3B6�<2�C6S2<�E>2�F6J�PCD2�92�C:5?�2=@<:7:4252�6>�@?D6>4:2��=:6>DB2C�AE6�<?C�C68E>5?C24DV2>�C?3B6�<2�C6S2<�2>D6C�56�AE6�PCD2�C62�2=@<:7:4252

�����������!$+)'*�(�*!-'*�����$+'�&!-�$$?C� 7:<DB?C� @2C:F?C� @2B2� 2<D2F?46C� 6CDO>� 4?>CD:DE:5?C� @?B� 3?3:>2C�� 4?>56>C25?B6C� I ?42C:?>2<=6>D6B6C:CD6>4:2C�&?B=2<=6>D6��6CDO>�C:DE25?C�6>�6<�:>D6B:?B�56�<2C�42;2C�24VCD:42C��B64:36>�<2�C6S2<�5:B64D2=6>D656<�2=@<:7:425?B�I�<E68?�<2�5:CDB:3EI6>�6>DB6�<?C�2<D2F?46C�AE6�4?>D6>82�<2�42;2�>� <2� 7:8EB2� �C6�=E6CDB2�E>2�42;2�56�5?C�FQ2C�AE6�4?>D:6>6�E>� 7:<DB?�@2C:F?�6>�CE� :>D6B:?B��I� D2=3:P>�E>5:28B2=2� 5?>56� C6� @E656� ?3C6BF2B� <2� 24DE24:U>�56<� 7:<DB?�(?B� 6>4:=2�56�E>2� 7B64E6>4:2� 56D6B=:>252�� <26>DB252�924:2�6<�2<D2F?J�56�8B2F6C�56426�8B25E2<=6>D6��=:6>DB2C�AE6�@?B�5632;?�56�6CD2�=:C=2�7B64E6>4:2<2�6>DB252�924:2�6<�2<D2F?J�56�28E5?C�D2=3:P>�C6�B65E46�56�7?B=2�8B25E2<��<�@E>D?�5?>56�<2C�5?C�4EBF2C�C66>4E6>DB2>�C6� <<2=2� 7B64E6>4:2�56�4?BD6�56<� 7:<DB?�*6�@E656�?3C6BF2B�4?=?�6<�@E>D?�56�4?BD6�C6�92<<2��6>6CD6�42C?����564:36<:?C�@?B�5632;?�56<�>:F6<�=65:?�56�@?D6>4:2�@<6>2��4?=?���5��6AE:F2<6>�2�<2�=:D25�56�6CD2@?D6>4:2��C6�@B?5E46�E>��28E;6B?��6>�<2�B6@B?5E44:U>�56�<2C�7B64E6>4:2C�2>6H2C�2�6CD6�@E>D?�56�4?BD6�<� =:C=?� C:CD6=2� C6� 2@<:42� 6>� <2C� 42;2C� 24VCD:42C� 56� DB6C� FQ2C� �>� <2� 7:8EB2� �� C6� =E6CDB2>� <2C42B24D6BQCD:42C�DQ@:42C�56�E>�7:<DB?�@2C:F?�@2B2�DB6C�2<D2F?46C

�<�>:F6<�6>� <2�C6S2<�AE6�6>DB682�E>� 7:<DB?�2�E>�2<D2F?J�F2�564B64:6>5?��4?=?�C6�92�F:CD?��56�7?B=2�8B25E2<4E2>5?�<2C�7B64E6>4:2C�C?3B6@2C2>�6<�@E>D?�56�4?BD6��CD2�42Q52�6C�5:CD:>D2�C68V>�6<�5:C6S?�56�<2�42;2�I�56<=:C=?� 7:<DB?�� I� C6� 56>?=:>2� @6>5:6>D6� 56<� 7:<DB?� $2C� @6>5:6>D6C�=OC� ECE2<6C� C?>� 56� ��� ��� I� �� 5�� @?B?4D2F2�� I� <?C� 7:<DB?C� AE6� <2C� @B?5E46>� C?>� 4?>?4:5?C� 4?=?� 7:<DB?C� 56� @B:=6B�� C68E>5? U� D6B46B� ?B56>�B6C@64D:F2=6>D6��I2�AE6�4252��?B56>��B6@B6C6>D2�E>2�@6>5:6>D6�56���5��@?B�?4D2F2$?C�7:<DB?C�@2C:F?C�C?>�42@246C�56�C?@?BD2B�E>?C�F?<D2;6C�=EI�4?>C:56B23<6C�,>�2=@<:7:425?B�AE6�6>DB68E6

���.�C?3B6�E>2�:=@652>4:2�56���?9=:?C��@B?5E46�E> F?<D2;6�>?=:>2<�56���F?<D:?C��I�6>�<?C�@:4?C�56�<2�C6S2<�@E656�<<682B�2�@B?5E4:B�=OC�56����F?<D:?C�C�@?B�6<<?�AE6�CEC�6<6=6>D?C�5636>�6CD2B�5:C6S25?C�6C@64Q7:42=6>D6�@2B2E>2C�@?D6>4:2C�4?>4B6D2C��4?>�E>?C�@E>D?C�56�4?BD6�@B656D6B=:>25?C�C68V><?C�2<D2F?46C�2� <?C�AE6�6CDP>�E>:5?C��I�4?>�E>2C�@6>5:6>D6C�@6B764D2=6>D6C:=PDB:42C���:8EB2� ����@6C2B�56�D?5?��6>�6<�=6;?B�56�<?C�42C?C��C6�@B?5E46�E>2�@PB5:52�C:6=@B6AE6� <2� C6S2<� 2E5:?� 2DB2F:6C2� E>� 7:<DB?� @2C:F?�� I� 6CD?� 2764D2� 2<� B6>5:=:6>D?4?>;E>D?�56<�C:CD6=2��CQ��E>2�42;2�6AE:@252�4?>�7:<DB?C�@2C:F?C�I�AE6�B64:32E>2�@?D6>4:2�56� ���F2D:?C��@E656�6>DB682B�E>?C����F2D:?C�24VCD:4?C��C:6=@B6AE6�C6�DB2D6�56�E>2�42;2�AE6�@6B=:D2�?3D6>6B�E>�2<D?�B6>5:=:6>D?��I2�AE6�C?>

=OC�4?=E>6C�<2C�42;2C�4?>�B6>5:=:6>D?C�=OC�32;?C

�!$+)'*���+!-'*������"'�&!-�$*:�DB232;2=?C�4?>�C:CD6=2C�56�@?D6>4:2�@2B2�5:B64D?C��<2�ED:<:J24:U>�56�42;2C�24VCD:42C�AE6�4?>D6>82>�7:<DB?C@2C:F?C�CE@?>6�E>2�@PB5:52�=EI�>?D23<6�6>�6<�B6>5:=:6>D?�24VCD:4?��I2�AE6�C:�C6�5:C@?>6��@?B�6;6=@<?��56E>�C:CD6=2�56�2=@<:7:424:U>�AE6�6>DB68E6������.�<2C�@PB5:52C�563:52C�2�<?C�7:<DB?C�56�<?C�2<D2F?46C�92BO>AE6�<2�@?D6>4:2�B62<�6>DB68252�@?B�<2C�42;2C�>?�6H4652�56�<?C������.�6>�6<�=6;?B�42C?(2B2�<?8B2B�E>�2@B?F6492=:6>D?�=OC�4?=@<6D?�56�<2�@?D6>4:2�5:C@?>:3<6�6>�E>�C:CD6=2��C6�92�86>6B2<:J25?<2�ED:<:J24:U>�@BO4D:42�56�<?C�7:<DB?C�24D:F?C�56�32;?�>:F6<��<?C�56>?=:>25?C �� ����CD?C�7:<DB?C�24D:F?C�?�4B?CC?F6BC�5636>�:>C6BD2BC6�2>D6C�56�AE6�<2�C6S2<�2E5:?�C62�2=@<:7:4252�6>�@?D6>4:2�I2�AE6�DB232;2>�4?>�>:F6<6C�56�<2�C6S2<�=EI�32;?C��=:<:F2D:?C��$2�C6S2<�6C�5:F:5:52�6>�8BE@?C�56�7B64E6>4:2C�I� <E68?� @E656� 5:B:8:BC6� 924:2� <2C� 6D2@2C� 56� 2=@<:7:424:U>�� AE6� 6>F:2BO>� <2� C6S2<� I2� 2=@<:7:4252� 924:2� <?C2<D2F?46C��7:8EB2� ��

,>� C:CD6=2� AE6� 4?>D6>82� E>2C� 42;2C� 4?>� 5?C� 2<D2F?46C�� 5?>56� <2� C6S2<� 2E5:?� C62� C6@2B252� @?B� E>4B?CC?F6B� I� 6>F:252� 2� 5?C� 2=@<:7:425?B6C�� 4252� E>?� 56� <?C� 4E2<6C� DB232;2BO� C?3B6� E>2� 5:CD:>D2� 32>52�567B64E6>4:2C�� 6>F:2>5?� <2� C6S2<� 2=@<:7:4252� 5:B64D2=6>D6� 924:2� <?C� 2<D2F?46C� 4?BB6C@?>5:6>D6C�� B64:36� 6<>?=3B6� 56� C:CD6=2� 3:2=@<:7:425?� �C:=:C=?�� C:� C6� DB232;2� 4?>� 2<D2F?46C� 4?>� DB6C� FQ2C�� @B64:C2B6=?C� E>4B?CC?F6B� AE6� C6@2B6� <2C� 7B64E6>4:2C� 6>� DB6C� 8BE@?C�� I� <2C� 6>FQ6� 924:2� <2C� DB6C� 6D2@2C� B6C@64D:F2C� AE66CD2BO>�4?>64D252C�5:B64D2=6>D6�4?>�<?C�2<D2F?46C��6CD2B6=?C�?@6B2>5?�4?>�E>�C:CD6=2�DB:2=@<:7:425?$2�ED:<:J24:U>�56<�4B?CC?F6B�@6B=:D6�6F:D2B�2<8E>?C�56C6AE:<:3B:?C�6>�<2�B6C@E6CD2�24VCD:42�:>6F:D23<6C�4E2>5?C6� DB232;2�4?>� 7:<DB?C�@2C:F?C�6>� <?C�2<D2F?46C�)65E46� D2=3:P>� <2�@?C:3:<:525�56�AE6� <2C�6D2@2C� <<68E6>�2C2DEB2BC6������������I�72F?B646�6<�7E>4:?>2=:6>D?�56�PCD2C��I2�AE6�CU<?�D:6>6>�AE6�2=@<:7:42B�E>2�@?B4:U>�56<6C@64DB?�C?>?B?� �2<8E>2C�?4D2F2C��I�>?�CE� D?D2<:525��4?>�6<<?�CE� 7E>4:U>�6C�=OC�@B64:C2�I�CE� B6>5:=:6>D?CE@6B:?B���:8EB2� ��+B232;2B�4?>�E>�C:CD6=2�=E<D:2=@<:7:425?�?7B646�F2B:2C�F6>D2;2C�@2B2�6<�?@6B25?B��256=OC�56�:>4B6=6>D2B�6<<Q=:D6�5:>O=:4?�56<�C:CD6=2�$2�C6S2<�=EC:42<�6CDO�4?=@E6CD2�56�=V<D:@<6C�7B64E6>4:2C�4?>�CEC�2B=U>:4?C4?BB6C@?>5:6>D6C��6>�6<<2�<2�=2I?B�@2BD6�56�<2�6>6B8Q2�4E3B6�<2C�7B64E6>4:2C�32;2C��=:6>DB2C�AE6�56CD:>2�E>2@2BD6�=OC� B65E4:52� @2B2� DB2>C=:D:B� <2C� 7B64E6>4:2C�=OC� 6<6F252C� �E2>5?� 2=32C� 7B64E6>4:2C� 5636>� C6B2=@<:7:4252C�6>�E>2�=:C=2�6D2@2�56�@?D6>4:2��PCD2�ED:<:J2BO�<2�=2I?B�@2BD6�56�CE�6>6B8Q2�6>�<2C�7B64E6>4:2C32;2C��AE652>5?�CU<?�E>2�6H:8E2�@2BD6�56�CE�@?D6>4:2�AE6�@E652�2=@<:7:42B�2�<2C�7B64E6>4:2C�=OC�6<6F252C

�?>�6CD2� C:DE24:U>�6C�=EI�@B?323<6� AE6� <2� @B6C6>4:2� 56� 7B64E6>4:2C� 2<D2C� 6>� <2� C6S2<� 2E5:?� @B?F?AE6� <2C2DEB24:U>�56�<2�6D2@2��4?>�<2�5:CD?BC:U>�4?BB6C@?>5:6>D6+B232;2B�4?>�E>�C:CD6=2�=E<D:2=@<:7:425?�?7B646�F2B:2C�F6>D2;2C�@2B2�6<�?@6B25?B��256=OC�56�:>4B6=6>D2B�6<<Q=:D6�5:>O=:4?�56<�C:CD6=2�$2�C6S2<�=EC:42<�6CDO�4?=@E6CD2�56�=V<D:@<6C�7B64E6>4:2C�4?>�CEC�2B=U>:4?C4?BB6C@?>5:6>D6C��6>�6<<2�<2�=2I?B�@2BD6�56�<2�6>6B8Q2�4E3B6�<2C�7B64E6>4:2C�32;2C��=:6>DB2C�AE6�56CD:>2�E>2@2BD6�=OC� B65E4:52� @2B2� DB2>C=:D:B� <2C� 7B64E6>4:2C�=OC� 6<6F252C� �E2>5?� 2=32C� 7B64E6>4:2C� 5636>� C6B2=@<:7:4252C�6>�E>2�=:C=2�6D2@2�56�@?D6>4:2��PCD2�ED:<:J2BO�<2�=2I?B�@2BD6�56�CE�6>6B8Q2�6>�<2C�7B64E6>4:2C32;2C��AE652>5?�CU<?�E>2�6H:8E2�@2BD6�56�CE�@?D6>4:2�AE6�@E652�2=@<:7:42B�2�<2C�7B64E6>4:2C�=OC�6<6F252C�?>�6CD2� C:DE24:U>�6C�=EI�@B?323<6� AE6� <2� @B6C6>4:2� 56� 7B64E6>4:2C� 2<D2C� 6>� <2� C6S2<� 2E5:?� @B?F?AE6� <2C2DEB24:U>�56�<2�6D2@2��4?>�<2�5:CD?BC:U>�4?BB6C@?>5:6>D6�>� <?C� C:CD6=2C�=E<D:2=@<:7:425?C�� 5?>56� <2� C6S2<� 2E5:?� C6� 5:F:56� 6>� 6<� 4B?CC?F6B� 2>D6C� 56� <<682B� 2� <2C6D2@2C��<?C�@B?3<6=2C�2>D6C�=6>4:?>25?C�C6�B65E46>�>?D23<6=6>D6��I�2�@6C2B�56�AE6�B6CE<D2>�E>�@?4?�=OC42B?C� AE6� <?C� 4?>F6>4:?>2<6C� @E656>� 6>DB682B� =2I?B� @?D6>4:2� 24VCD:42� 6=@<62>5?� =6>?C� @?D6>4:2� 6>F2D:?C�6<P4DB:4?C��?@D:=:J2>5?�6<�B6>5:=:6>D?�56�D?5?�6<�C:CD6=2

�*(��!�!���!'&�*�+M�&!��*����$'*��$+�-'��*�?>F:6>6�D6>6B�E>�4?>?4:=:6>D?�4<2B?�56�<2C�42B24D6BQCD:42C�DP4>:42C�56�<?C�2<D2F?46C�AE6�C6�6=@<62>��4?>D2<� AE6� C6� 2;ECD6>� 2� <?C� 2=@<:7:425?B6C� AE6� C6� ED:<:46>� I� 2� <2C� 7B64E6>4:2C� AE6� 5632>� B6@B?5E4:B� $2C42B24D6BQCD:42C� AE6� >?B=2<=6>D6� 5636� 6C@64:7:42B� 6<� 723B:42>D6� C?>� <2� :=@652>4:2�� <2� B6C@E6CD2� 6>7B64E6>4:2��<2�@?D6>4:2��<2�C6>C:3:<:525��<2�5:B644:?>2<:525��I�<2�5:CD?BC:U>�@?B�:>D6B=?5E<24:U>

����������*6�4?>?46�4?=?�:=@652>4:2�<2�?@?C:4:U>�2<�@2C?�56�E>2�4?BB:6>D6�6<P4DB:42�2<D6B>2�@?B�@2BD6�56�E>�4:B4E:D?6<P4DB:4?��?=?�<2�C6S2<�56�2E5:?�D:6>6�4:4<?C�@?C:D:F?C�I�>682D:F?C��CE�4?=@?BD2=:6>D?�6C�=EI�@2B64:5?�2<56�<2�4?BB:6>D6�2<D6B>2��2E>AE6�CE�F?<D2;6�F2BQ6�4?>CD2>D6=6>D6�C68V>�<2�@B?@:2�C6S2<�=EC:42<��CD?�C:8>:7:42AE6� <2� :=@652>4:2� 6>� E>� 2<D2F?J� >?� 6C� 7:;2�� I2� AE6� F2BQ2� 4?>� <2� 7B64E6>4:2� AE6� B6@B?5E46� �CQ� @E6C�� C64?>?46�4?=?�:=@652>4:2�>?=:>2<�56�E>�2<D2F?J�2<�F2<?B�=Q>:=?�AE6�PCD2�@B6C6>D2��I�4?BB6C@?>56�2<�F2<?B=OC�32;?�56� :=@652>4:2�AE6�C:8E6�2<�@:4?�56�B6C?>2>4:2��7:8EB2� ���$2�:=@652>4:2�C6�=:56�6>�?9=:?C��I>?C�:>5:42�<2�923:<:525�56<�2<D2F?J�@2B2�2@B?F6492B�<2�@?D6>4:2�AE6�<6�6>DB682�6<�2=@<:7:425?B�(?B�6;6=@<?��C:E>2�6D2@2�56�@?D6>4:2�6>DB682� ���F2D:?C�2���?9=:?C��E>�2<D2F?J�4?>�E>2�:=@652>4:2�>?=:>2<�56���?9=:?C@E656�EC2B� ���F2D:?C��=:6>DB2C�AE6�?DB?�2<D2F?J�4?>� ��?9=:?C�56�:=@652>4:2�C?<?�@?5BO�ED:<:J2B����F2D:?C(?B� <2� =:C=2� B68<2� 56� DB6C� C6� @?5BQ2� @6>C2B� AE6� ED:<:J2>5?� 2<D2F?46C� 4?> E>2� :=@652>4:2� 56� �� ?9=:?C

@?5BQ2=?C� 6HDB26B� 56<2=@<:7:425?B� ���� F2D:?C� 56@?D6>4:2�� 6CD?� 6C� 4:6BD?@6B?� >?� 6C� >25224?>C6;23<6� *:� E>:=?C� 2E>� 2=@<:7:425?B� 2<D2F?46C4?>� E>2� :=@652>4:2� =OC32;2�AE6�PCD6�2@2B646BO�E>7<E;?� 6H46C:F?� 56� 4?BB:6>D66>DB6� <2� 6D2@2� I� <?C2<D2F?46C�� 563:5?� 2� <2=6>?B�B6C:CD6>4:2�56�6CD?CV<D:=?C� �<<?� @E656@B?F?42B� C6B:?C� 52S?C� 6><?C� 4?=@?>6>D6C� 56<2=@<:7:425?B�� 6� :>4<EC?� 6>6<�@B?@:?�=?D?B�56<�2<D2F?J�563:5?�2�<2�C?3B642B82$2C� :=@652>4:2C� =OCECE2<6C��D2>D?�6>�2<D2F?46C

4?=?�6>�6D2@2C��C?>�<2C�56������I� ��?9=:?C��E2>5?�D6>82=?C�2<8E>2�5E52�B6C@64D?�2�<2�:=@652>4:2�562<8V>�2<D2F?J��32CD2BO�4?>�4?<?42B�<?C�D6B=:>2<6C�56�E>�D6CD6B�6>�<?C�3?B>6C�56<�2<D2F?J��I�?3C6BF2B�<2�<64DEB2AE6� PCD6� >?C� 52� �2>D6C� 923B6=?C� @E6CD?� 6<� D6CD6B� @B6@2B25?� @2B2� <2� <64DEB2� 56� 32;2� :=@652>4:2��� 6<B6CE<D25?�4?BB6C@?>56BO�4?>�<2�:=@652>4:2�>?=:>2<�56<�2<D2F?J

���!�� ���������!������$2�32>52�56�@2C?��?�B6C@E6CD2�6>�7B64E6>4:2C��56�E>�2<D2F?J�>?C� :>7?B=2�C?3B6�6<�4?=@?BD2=:6>D?�56�E>2<D2F?J�C68V>�<2C�7B64E6>4:2C�AE6�B6@B?5EJ42��5:49?�56�?DB?�=?5?��6C�<2�6HD6>C:U>�56<�6C@64DB?�C?>?B?�AE6E>�2<D2F?J�6C�42@2J�56�B6@B?5E4:B�C:>�5:CD?BC:U>�2@B64:23<6�6�9649?��6<�6C@64DB?�AE6�232B42>� D?52C� <2C� 7B64E6>4:2C�2E5:3<6C�6C�56=2C:25?�2=@<:?�@2B2�AE6�E>�CU<?2<D2F?J�@B?@?B4:?>6�E>2�B6@B?5E44:U>�2564E252��I2�AE6�6CD?�6AE:F2<5BQ2�2�E>2�B6C@E6CD2�AE6�4E3B:6B2�D?5?6<�6C@64DB?�C:>�5:CD?BC:U>�(?B�6CD?��D2>D?�6>�<?C�C:CD6=2C�@B?76C:?>2<6C�4?=?�6>�<?C�5?=PCD:4?C��C6�DB232;24?>�5:F6BC?C�2<D2F?46C��4252�E>?�56�<?C�4E2<6C�C6�56CD:>2�2�B6@B?5E4:B�E>�=2B86>�56�7B64E6>4:2C�4?>4B6D?,>2� 4EBF2� 56� B6C@E6CD2� 6>� 7B64E6>4:2C� 56� E>� C:CD6=2� 56� 2<D2F?46C� C6� 6C@64:7:42�� @?B� 6;6=@<?�� 56� <2C:8E:6>D6� 7?B=2����� J ����� J� �����5����CD2� :>5:424:U>�>?C� :>7?B=2�AE6�6CD?C�2<D2F?46C� B6@B?5E46>D?52C� <2C� 7B64E6>4:2C� 4?=@B6>5:52C� 6>DB6� 6CD?C� F2<?B6C�� 4?>� E>2� 56CF:24:U>� =OH:=2� 56� �� 564:36<:?CB6C@64D?�2�<2�C6S2<�56�2E5:?�?B:8:>2<���:8EB2� ��

�CD2�4EBF2�>?C�:<ECDB2�C?3B6�<2�7?B=2�6C@64Q7:42�4?=?�<?C�2<D2F?46C B6C@?>56>�2�<2�C6S2<�56�2E5:?��E2>D?=OC�B64D2�C62�<2�4EBF2��=2I?B�C6BO�<2�7:56<:525�56�<?C�2<D2F?46C�2�<2�C6S2<�=EC:42<�$?C�@:4?C�I�<?C�F2<<6C�AE6=E6CDB6�6CD2�4EBF2�C?>�<?C�B6C@?>C23<6C�56�<2�4?<?B24:U>�=EC:42<,>�@:4?�6>� <2C�2<D2C�7B64E6>4:2C�@B?5E4:BO�E>2�B6C@E6CD2�C?>?B2�=OC�3B:<<2>D6��=:6>DB2C�AE6�E>�@:4?�6>�6<6HDB6=?�56�<?C�D?>?C�32;?C�@B?@?B4:?>2BO�E>2�B6C@E6CD2�=OC�4?>DE>56>D6�C?3B6�6CD2C�7B64E6>4:2C,>�F2<<6 ?�42Q52�56�<2�4EBF2�56�B6C@E6CD2�6>�<2�J?>2�56�<2C�7B64E6>4:2C�=65:2C�242BB62BO�E>2�B6C@E6CD2

@?3B6�56�<2C�F?46C��@E5:6>5?�<<682B�2�9246BC6�:>:>D6<:8:3<6C�+?5?C�6CD?C�76>U=6>?C�56�4?<?B24:U>�=EC:42<C?>� :>56C623<6C� 6>� E>?C� 3E6>?C� 2<D2F?46C�� I2� AE6� �:>D6B@B6D2>�� <2� C6S2<� 56� 2E5:?� C68V>� CE� 4EBF2� 56B6C@E6CD2� 6>� <E82B� 56� B6@B?5E4:B<2� 7:6<=6>D6�� >?� ?3CD2>D6�� <2� 6H:CD6>4:2� 56�@6AE6S?C� F2<<6C�?�@:4?C�6>� <24EBF2�56�4E2<AE:6B�2<D2F?J�6C�>?B=2<��=:6>DB2C�>?�6H4652�<?C�<:=:D6C�@B67:;25?C

����� �"�����

�CD6�@2BO=6DB?�>?C�=E6CDB2� <2C�42B24D6BQCD:42C�5:B644:?>2<6C�AE6�E>�C?>:5?�D?=2�2<�C6B�:BB25:25?�56C56�6<2<D2F?J��B6C@64D?�2�E>2�7B64E6>4:2�56D6B=:>252��>�86>6B2<�<?C�C?>:5?C�8B2F6C�D:6>6>�D6>56>4:2�2�B6@2BD:BC66>�D?52C�5:B644:?>6C��=:6>DB2C�AE6�<?C�=OC�28E5?C�C6�4?>46>DB2>�6>�D?B>?�2<�6;6�56<�2<D2F?J���:8� ��

�?=?� >?B=2� 86>6B2<� C66C@64:7:42� 6<� O>8E<?� 565:7EC:U>� F6BD:42<� I� 6<9?B:J?>D2<� B6C@64D?� 2<� 6;656<� 2<D2F?J� �E2>5?� C6DB2D2� 56� E>2� 42;2� AE64?>D:6>6� F2B:?C� 2<D2F?46C5:CD:>D?C� 6C� 4?>F6>:6>D64?>?46B� <2� 5:B64D:F:525� 564252�E>?�56� <?C�2<D2F?46C@?B� C6@2B25?�� @2B2� C236B4?>� @B64:C:U>� 4E2<� C6BO� <24?36BDEB2� B62<� 56� 6CD2C42;2C�C68V>�7B64E6>4:2C,>� C:CD6=2� @2B2� =?CDB2B8BO7:42=6>D6� <242B24D6BQCD:42� 5:B644:?>2<56� E>� 2<D2F?J� 6C� 6<=?CDB25?� 6>� <2� 7:8EB2� �

*:8E:6>5?�<2C�<Q>62C�56�B6C@E6CD2�6>�7B64E6>4:2C�?3D6>5B6=?C�E>�:562�=EI�4<2B2�C?3B6�6<�4?=@?BD2=:6>D?56<�2<D2F?J�2�D?52C�<2C�7B64E6>4:2C��I�56�4?=?�564B646�<2�:>D6>C:525�56�PCD2C�4?>7?B=6�6<�?I6>D6�C6�2<6;2�56<6;6�<?>8:DE5:>2<�56<�2<D2F?J��?>�6CD2�8BO7:42�C6�?3D:6>6�E>2�56D2<<252�:>7?B=24:U>�C?3B6�<2�5:C@6BC:U>�56C56DB6C�O>8E<?C�5:CD:>D?C��@?B�6<<?�6C�32CD2>D6�ED:<:J252�6>�<?C�2<D2F?46C�56CD:>25?C�2�C:CD6=2C�56�@?D6>4:2'DB?�=PD?5?�=EI� ECE2<� @2B2� 56C4B:3:B� <2� 5:B64D:F:525� 56� E>�2<D2F?J�6C�=65:2>D6� 6<� 5:28B2=2�@?<2B��>� <27:8EB2����C6�=E6CDB2� <2�4?36BDEB2�F6BD:42<�I�9?B:J?>D2<�56�E>�2<D2F?J�� D?=2>5?�4?=?�32C6� DB6C� 7B64E6>4:2C5:CD:>D2C��@2B2�2CQ�D6>6B�E>2�:>7?B=24:U>�=OC�6H24D2�56<�4?=@?BD2=:6>D?�56�PCD?C

������������$2� C6>C:3:<:525� 56� E>� 2<D2F?J� @E656� C6B� 6H@B6C252� 56� 5:F6BC2C� =2>6B2C�� C:� 3:6>� <2� =OC� ECE2<� 6C� 6>564:36<:?C�*($�2�E>�=6DB?�56<2>D6�56<�2<D2F?J��AE6�B64:36�E>2�C6S2<�56�2E5:?�56� �-2D:?�$?�4:6BD?�6C�AE6@E656>�52BC6�2<8E>2C�5:76B6>4:2C�6>� <2� 7?B=2�56�=6CEB2B�6CD6�@2BO=6DB?��56@6>5:6>5?�56<� 723B:42>D6��I2AE6�C68V>�6<�42C?�6<�=:4BU7?>?�C6�4?<?42�2�E>�=6DB?�56�E>?�E�?DB?�2<D2F?J���E2>5?�C6�DB2D2�56�E>2�42;2�4?>F2B:?C�2<D2F?46C���F2B:2>5?�6>D?>46C�6<�F2<?B�?3D6>:5?+2=3:P>� 6C� :>D6B6C2>D6�� @2B2� D6>6B� E>2� :562� 4<2B2� 56� 4?=?� C6� 92� ?3D6>:5?� <2� <64DEB2� 56� <2� C6>C:3:<:525�4?>?46B� 6<� D:@?� 56� C6S2<� AE6� C6� 92� :>I64D25?� 6>� 6<� 2<D2F?J�� I2� AE6� C:� 3:6>� CE6<6� C6B� C:>EC?:52<� 56� E>27B64E6>4:2� 56D6B=:>252� D2=3:P>� @E656� 232B42B� E>2� 32>52� 2=@<:2� 56� 7B64E6>4:2C�� I� 6>� 2=3?C� 42C?C� <?CB6CE<D25?C�C?>�5:CD:>D?C�>� 4E2<AE:6B� 42C?� 6C� >646C2B:?� AE6� C6� 6C@64:7:AE6� 6<� F?<D2;6� 56� 6CD2� C6S2<� I� <2 :=@652>4:2� 4?>� AE6� C6DB232;2��@2B2�2CQ�@?56B�42<4E<2B�4?>�@B64:C:U>�<2�@?D6>4:2�56<�2<D2F?J,>�:>4B6=6>D?�56���5��6>�<2�C6>C:3:<:525�56�E>�2<D2F?J�6C�C:=:<2B�2�5?3<2B�<2�@?D6>4:2�56�<2�2=@<:7:424:U>�*:D6>6=?C�5?C�2<D2F?46C��I�E>?�56�6<<?C�D:6>6�E>2�C6>C:3:<:525���5��CE@6B:?B�2<�?DB?��6<�=OC�C6>C:3<6�@B64:C2BO56�<2�=:D25�56�@?D6>4:2�6>�2=@<:7:424:U>�AE6�6<�C68E>5?�@2B2�?3D6>6B�6<�=:C=?�>:F6<�56�@?D6>4:2�24VCD:42�=6CEB252� 6>� 6<� 6;6� 56<� 2<D2F?J� �C� :>D6B6C2>D6�� @E6C�� AE6� <2� C6>C:3:<:525�56<� 2<D2F?J� C62� <?�=OC�6<6F252@?C:3<6��@2B2�?3D6>6B�4?>�<2�=:C=2�@?D6>4:2�56�2=@<:7:424:U>�E>2�=2I?B�@B6C:U>�C?>?B2

�� ������

�CD6�52D?�>?C�:>5:42�6<�F2<?B�=OH:=?�56�@?D6>4:2�6<64DBU>:42�AE6�E>�2<D2F?J�@E656�25=:D:B��C:>�AE6�PCD6�CE7B256C@6B764D?C�&?�?3CD2>D6��2<8E>?C�723B:42>D6C�=6>4:?>2>�6>�CEC�7?<<6D?C�E>2C�@?D6>4:2C�CE@6B:?B6C�2� <2CAE6�6>�B62<:525�@?C66>��$?C�4?>46@D?C��@?D6>4:2�=EC:42<����@?D6>4:2�56�@:4?��?��@?D6>4:2�4?>D:>E2��@E656>4?>7E>5:B�2<�ECE2B:?��I2�AE6�<?C�F2<?B6C�AE6�D?=2>�6CD2C��@?D6>4:2C��5:7:6B6>�>?D23<6=6>D6�6>DB6�CQ

��� ��������� ��!��

*6�B67:6B6�2�<2�@?D6>4:2�=65:2�4?>CE=:52�@?B�6<�2<D2F?J��6C�<2�@?D6>4:2�6<P4DB:42�AE6�@E656�B64:3:B��56�7?B=24?>D:>E252��<2�3?3:>2�56�E>�2<D2F?J�C:>�AE6�>:>8V>�4?=@?>6>D6�56<�=:C=?�56;6�56�7E>4:?>2B�4?BB64D2=6>D6�C�6<�F2<?B�=OC�7:23<6�56�@?D6>4:2��I�D2=3:P>�6<�AE6�52�E>2�4:7B2�=OC�32;2

��� �������������������

�C�<2�@?D6>4:2�=OH:=2�AE6�6>DB682�6<�2<D2F?J�4E2>5?�B6@B?5E46�E>2�C6B:6�56�?>52C�C6>?:52<6C�AE6�8E2B52>4:6BD2� C:=:<:DE5� 4?>� E>� @B?8B2=2�=EC:42< �CD6� F2<?B� CE6<6� C6B� =2I?B� AE6� 6<� 56� @?D6>4:2� 4?>D:>E2�� @6B?56C27?BDE>252=6>D6�>?�6H:CD6�E>�@B?8B2=2�6CDO>52B�@2B2�B62<:J2B�6CD2�=6CEB2��I�4252�723B:42>D6�ED:<:J2�CEC=65:4:?>6C� 5:CD:>D?C� D:@?C� 56� ?>52C�� 924:6>5?� :=@?C:3<6� <2� 4?=@2B24:U>� 6>DB6� 2<D2F?46C� 56� 5:F6BC?C723B:42>D6C

��� ��������������

*6�B67:6B6�2�<2�@?D6>4:2�=OH:=2�AE6�E>�2<D2F?J�@E656�6>DB682B�5EB2>D6�E>�<2@C?�56�D:6=@?�=EI�4?BD?��I�2CQB6@B?5E4:B� 4?BB64D2=6>D6� C6S2<6C� DB2>C:D?B:2C�=EI� 3B6F6C� AE6� @E656>� C6B�=OC� @?D6>D6C� AE6� 6<� B6CD?� 56<@B?8B2=2�=EC:42<� $2�@?D6>4:2�56�@:4?� �?�56�4B6CD2��6CDO� <:=:D252�@?B� <2�6H4EBC:U>�AE6�@E652�6764DE2B�6<5:27B28=2��?�@?B�<2�42@24:525�56<�=?D?B�6>�6<�2<D2F?J�$2�4:7B2�56�6CD2�@?D6>4:2�C:6=@B6�6C�=OC�6<6F252�AE6<2� 4?>D:>E2�� 4?>� E>� F2<?B� 2@B?H:=25?� 56<� 5?3<6� 56� 6CD2� V<D:=2�� 2CQ� E>� 2<D2F?J� AE6� 6>DB68E6� ��� .� 56@?D6>4:2� 4?>D:>E2� �U� 67:42J�� @E656� <<682B� 2� 6>DB682B� ���� .� 56� @?D6>4:2� 56� @:4?� 5EB2>D6� E>?C� 3B6F6C:>CD2>D6C

��� ����������

,D:<:J2>5?�E>2�C6S2<�AE6� B6@B?5E46�E>� BE:5?�4?>D6>:6>5?�F2B:2C� 7B64E6>4:2C�C6�=:56� <2�@?D6>4:2��!��$2C7B64E6>4:2C� AE6� 4?=@?>6>� 6CD6� BE:5?� C?>�=EI� @2B64:52C� 2� <2C� AE6� 4?>D:6>6� E>2� C6S2<�=EC:42<�� I� 6CDO>6C@64:7:4252C� @?B� <2� �!�� ��<64DB?>:4� !>5ECDB:6C� �CC?4:2D:?>�� �CD2� 4:7B2� 6CDO� =EI� 46B42>2� 2<� >:F6<� 56� <2@?D6>4:2�4?>D:>E2��CQ��E>�2<D2F?J�AE6�6>DB68E6� ���.��!��D6>5BO�<2�=:C=2�@?D6>4:2�AE6�?DB?�AE6�6>DB68E6����.�56�@:4?$?C�F2<?B6C�56�@?D6>4:2�AE6� D6>82�E>�2<D2F?J�>?C� :>5:42>�4E2<�6C�6<� D:@?�56�2=@<:7:425?B�=OC�4?>F6>:6>D6@2B2�DB232;2B�6>�4?>;E>D?�,>�2=@<:7:425?B�4?>�6C42C2�@?D6>4:2��6>�4?=@2B24:U>�4?>�6<�2<D2F?J��>?�D6>5BOCE7:4:6>D6� 42@24:525� @2B2� AE6� <?C� 2<D2F?46C� DB232;6>� 2� @<6>?� B6>5:=:6>D?�� C:� C6� 7E6BJ2� 2<� =OH:=?� 6<@?D6>4:U=6DB?�56<�2=@<:7:425?B�@2B2�?3D6>6B�6<�F?<E=6>�56C625?�2@2B646BO>�2B=U>:4?C�AE6�>?�6CDO>�6>�6<@B?8B2=2�?B:8:>2<��I�@E656>�@6B;E5:42B�6<�=?D?B�56<�2<D2F?J�(?B�?DB?�<25?��E>�2=@<:7:425?B�56=2C:25?�@?D6>D6@E656�?B:8:>2B�6>�<?C�2<D2F?46C�=?F:=:6>D?C�56<�5:27B28=2�6H46C:F?C��AE6�@?>82>�6>�@6<:8B?�<2�:>D68B:525�56<?C�=:C=?C

��� ������ ��

$2C�C:8<2C�)%*�C?>�<2�23B6F:24:U>�56�)??D�%62>�*AE2B6��(B?=65:?�56�<2�B2QJ�4E25B252���I�C6�ED:<:J2�@2B256C4B:3:B�6<�>:F6<�56�E>2�C6S2<�56�2E5:?�*E�F2<?B�4?BB6C@?>56�2<�@B?=65:?�56� <?C�F?<D2;6C�AE6�C6�?B:8:>2>4E2>5?�E>2�?>52�C6>?:52<�@2C2�@?B�E>�2<D2F?J�$2�@?D6>4:2�)%*�4?:>4:56��6>� <2�@BO4D:42��4?>� <2�@?D6>4:24?>D:>E2��C�@E6C�E>2�4:7B2�7:23<6�@2B2�4?>?46B�<2C�@B6CD24:?>6C�56�4E2<AE:6B�2<D2F?J

��� ����#�������� �����!����������� ����#�����#�����

$2� C6S2<� =EC:42<� 6C� =EI� 4?=@<6;2�� I� 6>� D?5?� C:CD6=2� 56� 2=@<:7:424:U>� 6C� @B64:C?� AE6� <?C� C:CD6=2C� 562<D2F?46C�@E652>� B6@B?5E4:B<2�C:>�2S25:B�>:�6H4<E:B� 7B64E6>4:2C�(E656�CE4656B�AE6�C68V>� <2C�4?>5:4:?>6C4?>�AE6�6CDP�DB232;2>5?��5?C�?�=OC�7B64E6>4:2C�@B6C6>D6C�6>�6<�@B?8B2=2�?B:8:>2<�86>6B6>�?DB2C�7B64E6>4:2C6HDB2C� AE6� >?� 6CD232>� 2>D6C�� I� AE6� 2<� >?� C6B� =V<D:@<?C� 56� <?C� D?>?C� =EC:42<6C� ?B:8:>2B:?C� 86>6B2>� E>25:CD?BC:U>���6CD?�C6�<6�<<2=2�5:CD?BC:U>�@?B�:>D6B=?5E<24:U>��I�CE6<6�?4EBB:B�4E2>5?�E>�5:27B28=2�C6�=E6F66>�<?C�<Q=:D6C�56�CE�6H4EBC:U>��?�4E2>5?�<2�3?3:>2�56<�2<D2F?J�6CDO�C2DEB252�563:5?�2�E>�6H46C?�56�C6S2<(E656�CE4656B�D2=3:P>�AE6�563:5?�2� <2�@B?@:2�6CDBE4DEB2�56<�2<D2F?J��PCD6�86>6B6�7B64E6>4:2C�AE6�>?�C?>=V<D:@<?C�56�<2�C6S2<�=EC:42<��2�6CD6�D:@?�56�5:CD?BC:U>�C6�<6�56>?=:>2�2B=U>:42��CD6�D:@?�56�5:CD?BC:U>�CE6<62E=6>D2B� 2� =65:52� AE6� 5:C=:>EI6� <2� 7B64E6>4:2�� >?� 6C� @E6C� E>2� 5:CD?BC:U>� 56� D:@?� <:>62<�� 2E>AE6� @2B2B6@B6C6>D2B<2� C6� ED:<:J2� E>� @?B46>D2;6�� D2<� 4?=?� C6� 9246� D2=3:P>� @2B2� B6@B6C6>D2B� <2� 5:CD?BC:U>� @?B:>D6B=?5E<24:U>��CQ�@E6C�E>�2<D2F?J�AE6�@B6C6>D6�E>2�5:CD?BC:U>�2B=U>:42�56�E>�������6C�@B676B:3<6�2�?DB?AE6�24B65:D6�E>�������6>�6<�=:C=?�@2BO=6DB?

�'&�/!'&��'��&+)���$+�-'��*�E2>5?�2�<2�C2<:52�56�E>2�6D2@2�56�2=@<:7:424:U>�C6�4?>64D2�=OC�56�E>�2<D2F?J��92I�AE6�D6>6B�@B6C6>D6�AE66<�F2<?B�56�<2C�:=@652>4:2C�56�42B82�56�<?C�2<D2F?46C�4?>64D25?C�4?BB6C@?>52�2<�F2<?B�56�:=@652>4:2�56�<2<Q>62�$2C�C2<:52C�56�<?C�2=@<:7:425?B6C�6CDO>�C:6=@B6�@B6@2B252C�@2B2�?@6B2B�2�56D6B=:>252C�:=@652>4:2C56�42B82��C68V>�4?=?�C6�4?>64D6>�6>DB6�CQ�<?C�2<D2F?46C��6CD6�F2<?B�42=3:2BO�E2>5?�C6�4?>64D6>�<?C�2<D2F?46C ���������� <2�42B82�56<�2=@<:7:425?B�:BO�2�<?�<2B8?�56�E>2�C?<2�<Q>62��@2B24?>?46B�6<�F2<?B�56� <2� :=@652>4:2� D?D2<�32CD2BO�CE=2B� <?C�F2<?B6C�56� :=@652>4:2�>?=:>2<�56� <?C�2<D2F?46C4?>64D25?C��CQ�@?B�6;6=@<?��4?>64D2>5?�4E2DB?�2<D2F?46C�56���?9=:?C�6>�C6B:6�� <2�:=@652>4:2�56�<2�<Q>62C6BO������������ ��?9=:?C�CD6�D:@?�56�4?>6H:?>25?�>?�6C�B64?=6>523<6��I2�AE6�6<�@B:=6B�2<D2F?J�24DV2�4?=?�5:F:C?B�56�7B64E6>4:2C56<�C:8E:6>D6��568B252>5?�<2�C6S2<�56�2E5:?��I�2CQ�CE46C:F2=6>D6��56=OC��6>�6<�42C?�56�AE6�E>?�CU<?�56<?C�2<D2F?46C�56;6�56�7E>4:?>2B��<2�<Q>62�AE652�:>D6BBE=@:52��I�D?5?C�<?C�2<D2F?46C�AE652>�56C24D:F25?C�E2>5?�C6�4?>64D2> �������������<2�:=@652>4:2�56�<2�4?=3:>24:U>�5636�56�42<4E<2BC6�4?=? C:�C6�DB2D2B2�56B6C:CD6>4:2C�

�6�6CD2� 7?B=2��5?C�2<D2F?46C�56� ��?9=C�5:F:5:BO>� <2� C6S2<� I� C6�?3D6>5BO�E>2� :=@652>4:2�56� <Q>62�56��?9=C��E>AE6�6CD2�4?>7:8EB24:U>�<:=:D2�6<�>V=6B?�56�2<D2F?46C�AE6 @E656>�C6B�4?>64D25?C��D:6>6�<2�F6>D2;256�AE6�2E>AE6�E>?�56�6<<?C�72<<6��6<�B6CD?�DB232;2BO�4?>�>?B=2<:525

�>� 2<8E>?C� 42C?C� C6� @E656�6>C2I2B� E>2� 4?>6H:U>�9Q3B:52�� AE6� 4?>D6=@<6� <?C� 5?C� D:@?C� 56� 4?>6H:?>25?�EC2>5?� <2C� 5?C� 7UB=E<2C� 6C� C6>4:<<?� 4?>?46B� 6< F2<?B� D?D2<� 56� <2� :=@652>4:2� 6>� E>2� <Q>62� 4E2<AE:6B2�*:>6=32B8?�CE3C:CD6�6<�@B?3<6=2�56�<2�4?>7:8EB24:U>�6>�C6B:6��I�256=OC�C6�9246�56@6>56B�2�=E49?C�2<D2F?46C56�E>2�C?<2�6D2@2

()'�$�%�*��&�$'*��$+�-'��*�E2>5?�E>�2<D2F?J�86>6B2�=EI�32;2C�7B64E6>4:2C��<2�F:3B24:U>�56<�2B=2JU>�?�42;2�AE6�<?�4?>D6>82�@E656�C6B7E6>D6� 56� 5:CD?BC:U>� (?B� 6<<?� <2C� 42;2C� 56CD:>252C� 2� 2<?;2B� 6CD?C� 2<D2F?46C� 5636>� 6CD2B� 4?>CDBE:52C� 4?>=2D6B:2<6C�56>C?C�I�B6C:CD6>D6C��4?>�E>�D2=2S?�2@B?@:25?�@2B2�>?�5:C=:>E:B�<2�67:4:6>4:2�56<�2<D2F?J�2�6CD2C7B64E6>4:2C��<� B64:>D?�5?>56�C6�6>4:6BB2�6<�2<D2F?J�@E656�5:C:@2B�6>�6H46C?� <2�6>6B8Q2�24VCD:42�AE6�PCD686>6B2�� C:� CE� 6CDBE4DEB2� >?� 92� C:5?� 3:6>� 5:C6S252� I� 4?>CDBE:52� �<� 2<D2F?J� 5636� 6CD2B� @6B764D2=6>D66>42CD25?�6>�<2�42;2��4?>�<2C�;E>DEB2C�C6<<252C��@2B2�@B6F6>:B�4E2<AE:6B�F:3B24:U>�:>56C623<6'DB?�@B?3<6=2�AE6�C6�@E656�52B��D2>D?�6>�<?C�2<D2F?46C�56�8B2F6C�4?=?�6>�<?C�56�=65:?C�?�28E5?C��6C�<2@B6C6>4:2�6>�6<�:>D6B:?B�56�PCD?C�56�@2BDQ4E<2C�CU<:52C�$2C�AE6�?7B646>�E>�=2I?B�@6<:8B? C?>�<2C�56�9:6BB?�?56�246B?��AE6�2DB2Q52C�@?B�6<�42=@?�=28>PD:4?�86>6B25?�@?B�6<�@B?@:?�=?D?B�56<�2<D2F?J��C6�:>4BECD2>�6>�<23?3:>2�?�6>�6<�5:27B28=2��>�6<�@B:=6B�42C?�@E656>�C6B�=?D:F?�56�E>�7E>4:?>2=:6>D?�:BB68E<2B��I�92CD2�56�E>4?BD?� 4:B4E:D?� 6>� 6< =?D?B�� =:6>DB2C� AE6� C:� C6� :>4BECD2>� 6>� 6<� 5:27B28=2� @E656>� B2C82B<?�� I� 6=@6?B2B� 6<C?>:5?�AE6�C6�?3D6>82��:>DB?5E4:6>5?�F:3B24:?>6C�@2BOC:D2C�,>2�<:=@:6J2�56�6CD2C�@2BDQ4E<2C�2�D:6=@?��>?C6F:D2BO�<2�2@2B:4:U>�56�6CD?C�@B?3<6=2C'DB?�56764D?�=EI�4?=V>�6C�<2�7?B=24:U>�56�CE4:6525�2<B6565?B�56�<2�3?3:>2�I�6>�6<�C:CD6=2�56�CEC@6>C:U>56<� 2<D2F?J�� 4E2>5?�6CD?� CE4656�2@2B646�E>2�5:CD?BC:U>� >?D23<6� 6>� <2C�2<D2C� 7B64E6>4:2C��=?D:F252�@?B� <25:7:4E<D25�6F:56>D6�AE6�D:6>6�D?52�<2�@2BD6�=UF:<�56<�2<D2F?J�@2B2�C68E:B�<2C�BO@:52C�F:3B24:?>6C�AE6�?B:8:>2><?C�D?>?C�28E5?C�>�4E2<AE:6B�42C?��4E2>5?�C6�25F:6BD6�E>2�=2<7E>4:U>�6>�E>�2<D2F?J��6C�:=@?BD2>D6�6>4?>DB2B�I�4?BB68:B�C:�6C@?C:3<6�<2C�42EC2C�AE6�=?D:F2>�6CD6�72<<?��H2=:>2>5?�<?C�CQ>D?=2C�56<�72<<?��=65:2>D6�E>2�6C4E492�2D6>D2�<<682=?C� 2� <2� 6F:56>4:2� 7QC:42� 56� 5?>56� 6CDO� C:DE25?�� 6CD?� 2�=6>E5?� >?C� @6B=:D6� 56D6B=:>2B� <2� 42EC2� I4?BB68:B�6<�56764D?

()'�$�%�*����!�'*���'+)'*��'%('&�&+�*$2�24DE24:U>�56�E>�@B?46C25?B�?�56�<2�=:C=2�6D2@2�56�@?D6>4:2�@E656�52S2B��I�92CD2�56CDBE:B��E>?�?�=OC4?=@?>6>D6C�56�E>�2<D2F?J��>�6CD?C�42C?C�B6CE<D2�5:7Q4:<� :56>D:7:42B�<2�E>:525�B6C@?>C23<6�56<�@B?3<6=2��2>?�C6B�AE6�C6�6764DV6>�5:F6BC2C�@BE632C�6>�D?52�<2�4256>2�56�C?>:5?,>2�7E6>D6�56�@B?3<6=2C�6>�<?C�2<D2F?46C�6C�<2�2@2B:4:U>�56�4?BB:6>D6�4?>D:>E2�6>�<2�C2<:52�56<�2=@<:7:425?B�6CD6� 72<<?� C6� 9246� =OC� 6F:56>D6� 4E2>5?� ?4EBB6� DB232;2>5?� 4?>� 2<D2F?46C� @2B2� 32;2C� 7B64E6>4:2C�� @6B?D2=3:P>� @E656� >?D2BC6� 6>� <?C� 2<D2F?46C� @2B2� =65:?C� ?� 28E5?C�� 4?>� <2� 2@2B:4:U>� 56� E>� JE=3:5?� 56:>D6>C:525�4?>CD2>D6*:� 6CD2� 4?BB:6>D6� 2<42>J2� E>2� :>D6>C:525� CE7:4:6>D6�� I� C:� 256=OC� CE� @?<2B:525� 6C� ?@E6CD2� 2� <2� 56� <?C2<D2F?46C��@E656�<<682B�2�AE6=2B�<2�@2BD6�=?D?B2�56<�2<D2F?J��D2<�I�4?=?�CE4656�4E2>5?�PCD6�92�B64:3:5?�E>22=@<:7:424:U>� 6H46C:F2� *:� <2� @?<2B:525� 6C� <2� =:C=2� 4?>� AE6� ?@6B2� 6<� 2<D2F?J�� 6<� =?D?B� D2=3:P>� @E656AE6=2BC6��@6B?�2�5:76B6>4:2�56<�42C?�2>D6B:?B�6<�4?>?�56<�2<D2F?J�CE6<6�AE652BC6�@6825?�2�<2�3?3:>2$2C� ?C4:<24:?>6C� 56� 2<D2� 7B64E6>4:2� 86>6B252C� @?B� 2<8V>� 6<6=6>D?� 56� <2� 4256>2� C?>?B2� @E656>� 52S2BD2=3:P>� 2� <?C� 2<D2F?46C�� 6>� 6C@64:2<� 2� <?C� 56CD:>25?C�2� <2C� 2<D2C� 7B64E6>4:2C��E2>5?�6CD2C� ?C4:<24:?>6C2@2B646>�2�=6>E5?�>?�C6�D:6>6�4?>CD2>4:2�2E5:D:F2�56<�9649?��I2�AE6�@E656>�D6>6B�F2<?B6C�CE@6B:?B6C�2�<?C ��#9J��4?>�<?�AE6�6>DB2>�56>DB?�56�<2�J?>2�56�C?>:5?C�>?�2E5:3<6C��CD2C�?C4:<24:?>6C�@E656>�AE6=2B�6<=?D?B�56<�DG66D6B�2@6>2C�C6�4?>64D6�6<�C:CD6=2�2�<2�B65��:>4<EC?�6>�2EC6>4:2�56�<2�C6S2<�56�2E5:?$2�42EC2�56�6CD2C�?C4:<24:?>6C�6C�=EI�5:7Q4:<�56�56D64D2B��@?B�<?�AE6�4?=V>=6>D6�6C�@B64:C?�5:C@?>6B�56�E>?C4:<?C4?@:?��AE6�C6�:BO�4?>64D2>5?�@B:=6B?�4?>�<2�C2<:52�56<�2=@<:7:425?B��@2B2�:B�<E68?�2F2>J2>5?�92CD2�52B4?>�<2�E>:525�B6C@?>C23<6�56�<2�?C4:<24:U>�@2BOC:D2(2B2�7:>2<:J2B�92I�AE6�D6>6B�@B6C6>D6�AE6�6<�?B56>�56�4?>6H:U>�56�<?C�5:F6BC?C�4?=@?>6>D6C�56�E>2�4256>256�2=@<:7:424:U>�5636�C68E:B�E>�?B56>�56D6B=:>25?�$2�:8>?B2>4:2�56�6CD6�9649?�@E656�C6B�B6C@?>C23<6�56<2�56CDBE44:U>�56�4E2<AE:6B�2<D2F?J��I2�C62�56�2<D2C��=65:2C��?�32;2C�7B64E6>4:2C�CD?� C6� 5636� 2� <?C� @:4?C� :>CD2>DO>6?C� 56� C6S2<� AE6� 2@2B646>� 4E2>5?� C6� 23B6� ?� C6� 4:6BB2� 6<� @2C?� 56� <24?BB:6>D6�6>�4E2<AE:6B�E>:525��=6C2�56�=6J4<2C��@B?46C25?B6C��7:<DB?C�24D:F?C��64E2<:J25?B6C���CD2C�CE3:52C56� D6>C:U>� @E656>� @2C2B� @?B� <2C� 6D2@2C�� I� 2E>AE6� <?C� @?D6>4:U=6DB?C� 6CDP>� 6> ����� @E656>� B64:3:B� E>22=@<:7:424:U>�:>CD2>DO>62�AE6�2764D6�2�<?C�=?D?B6C�56�<?C�2<D2F?46C�<�?B56>�4?BB64D?�AE6�5636�C68E:BC6�6C�6<�C:8E:6>D6���E2>5?�C6�4?>64D6�D?5?�6<�C:CD6=2�<?C�2=@<:7:425?B6CC6�4?>64D2BO>�6>�V<D:=?�<E82B��4E2>5?�C6�56C4?>64D6�6<�C:CD6=2�<?C�2=@<:7:425?B6C�C6BO>�<?C�@B:=6B?C�6>�C6B56C4?>64D25?C�6�6CD2�7?B=2�C6�6F:D2BO�AE6�6CD?C�@:4?C�:>CD2>DO>6?C�86>6B25?C�@?B�<?C�@B?46C25?B6C�56�<2�C6S2<��4E2>5?C6�4?>64D2>�?�56C4?>64D2>��<<68E6>�92CD2�<?C�2<D2F?46C

$�*���"�*���N*+!��*��$��')+'�!)�,!+'���N*+!�',>2� 42;2� ?� E>� B64:>D?� 24VCD:4?� 6C� 2AE6<� AE6� 4?>D:6>6� <?C� 2<D2F?46C�� I� C6� ED:<:J2� @2B2� <?8B2B� AE6� PCD?C?7B6J42>�E>�B6>5:=:6>D?�CE@6B:?B�2<�AE6�D6>5BQ2>�C:�C6�EC2B2>�C:>�6CD6�C?@?BD6�(?B�?DB2�@2BD6�<2�ED:<:J24:U>�56B64:>D?C�24VCD:4?C :=@:56�AE6�C6�@B?5EJ42�6<�4?BD?4:B4E:D?�24VCD:4?��E>�76>U=6>?�=EI�4?BB:6>D6�C:�C6�EC2>2<D2F?46C�@2B2�32;2C�7B64E6>4:2C�AE6�>?�F2I2>�6>46BB25?C�6>�CE�4?BB6C@?>5:6>D6�42;2�EB2>D6� <2� 2<D6B>2>4:2� @?C:D:F2� 56� <2� C6S2<� 56� 2E5:?� 6<� 4?>?� 56<� 2<D2F?J� C6� 56C@<2J2� 924:2� 56<2>D6�� I4?=@B:=6�6<�2:B6�AE6�C6�92<<2� 7B6>D6�2�P<�=:6>DB2C�B2B:7:42� <2�=2C2�56�2:B6�AE6�C6�6>4E6>DB2�6>�CE�5?BC?�EB2>D6�<2�2<D6B>2>4:2�>682D:F2�6<�76>U=6>?�C6�:>F:6BD6��I2�AE6�2<�56C@<2J2BC6�6<�4?>?�924:2�2DBOC�4?=@B:=66<�2:B6�C:DE25?�2<�5?BC?�I�5:CD:6>56�6<�AE6�C6�6>4E6>DB2�56<2>D6�56�P<��<�2:B6�AE6�6C�4?=@B:=:5?� D:6>56�25:B:8:BC6�BO@:52=6>D6�924:2�E>2�J?>2�5?>56�6CDP�=OC�5:CD6>5:5?��@2B2�B6CD23<646B�6<�6AE:<:3B:?�56�@B6C:?>6C�4E2>5?�6CD?�CE4656�4?>�E>�2<D2F?J�@E656�<<682B�2�42>46<2B�56D6B=:>252C�?>52C�C?>?B2C��I�C:6=@B6�B6CE<D2E>2� 4?>C:56B23<6� 5:C=:>E4:U>�6>� <2� 6>6B8Q2� 24VCD:42��CD6� 6C� E>?�56� <?C�=?D:F?C� 3OC:4?C� @?B� <?C� AE6�C6ED:<:J2>�42;2C�24VCD:42C��@6B?�>?�6C�6<�V>:4?���:8�� �

$2� @2>D2<<2� ?� 6<�=2D6B:2<� AE6� B?562� E>� 2<D2F?J� ?� E>?C� 2<D2F?46C�� I� C?3B6� 6<� AE6� 6CDO�=?>D25?�� B64:36� 6<>?=3B6�86>PB:4?�56�3277<6��42;2�24VCD:42�?�B64:>D?�24VCD:4?�,>�2<D2F?J�C:>�3277<6�B6@B?5E46�4?>�=EI�@?426>6B8Q2� D?52C� <2C� 7B64E6>4:2C� AE6� C6� 6>4E6>DB2>� @?B� 5632;?� 56� <?C� ���� J�� 2� 42EC2� 56<� =6>4:?>25?4?BD?4:B4E:D?�24VCD:4?��C:6>5?�=EI�7O4:<�<<6F2B�2�423?�E>2�56=?CDB24:U>�@BO4D:42�56�6CD6�9649?��?>64D6=?CE>� 2<D2F?J� C:>� @2>D2<<2� 2<8E>2� 2<� 2=@<:7:425?B�� I� B6@B?5EJ42=?C� 4E2<AE:6B� @:6J2� AE6� 4?>D6>82� E>� 3E6>@?B46>D2;6� 56� D?>?C� 32;?C� *68E:52=6>D6� :=@B?F:C6=?C� 4E2<AE:6B� @2>D2<<2� @B?F:C:?>2<� �32CD2� E>� DB?J?� 5642BDU>�@<2>?� 4?>�6<� 4?>C23:5?�28E;6B?�� I� 4?<?AE6=?C�6<�2<D2F?J�6>�CE�46>DB?��56� :>=65:2D?�>?D2B6=?C�6<2E=6>D?�56�32;2C�7B64E6>4:2C$2�@BO4D:42�D?D2<:525�56�B64:>D?C�24VCD:4?C�ED:<:J25?C�6>�C:CD6=2C�56 @?D6>4:2�C?>�56�2<8E>?�56�<?C�DB6C�D:@?CAE6� C6� 56C4B:36>� 2� 4?>D:>E24:U>� �2CD2� 4?>�6492B� E>2�?;6252�2� <2� @2BD6� DB2C6B2� 56� 4E2<AE:6B� 3277<6� @2B2C236B� C:� 4?>D:6>6� 7:<DB?C� @2C:F?C� 6>� CE� :>D6B:?B�� ?� 3:6>� C:� 6CDO� @B6@2B25?� @2B2� 7E>4:?>2B� 6>� E>� C:CD6=2=E<D:2=@<:7:425?�*:�4?>D:6>6�CU<?�5?C�4?>64D?B6C�I�F2B:?C�2<D2F?46C�<<6F2�7:<DB?C�@2C:F?C��@6B?�C:�D:6>6�D2>D2C@2B6;2C�56�4?>64D?B6C�4?=?�2<D2F?46C��6CDO�@B6@2B25?�@2B2�C6B�EC25?�6>�E>�C:CD6=2�=E<D:2=@<:7:425?

)��!&+'��'%(��+'�C� 2AE6<� 6>� 6<� AE6� <?C� 2<D2F?46C� 6CDO>�=?>D25?C� 6>�E>2� 42;2� 46BB252�96B=PD:42=6>D6�� 56� 7?B=2�AE6� <2B25:24:U>� @?CD6B:?B� 56� <?C� 4?>?C� >?� @E652� C2<:B� 56<� :>D6B:?B� 56<� B64:>D?� &?B=2<=6>D6� C6� CE6<6� B6<<6>2B� 6<:>D6B:?B�56�6CD?C�B64:>D?C�4?>�=2D6B:2<�23C?B36>D6��@2B2�2=?BD:8E2B�6CD2C�B25:24:?>6C��I�56�@2C?�4?>F6BD:B�6<:>D6B:?B�56�6CD2C�42;2C�6>�E>�6C@24:?�=2I?B��56C56�6<�@E>D?�56�F:CD2�24VCD:4?���:8����

$?C�B64:>D?C�4?=@24D?C�@?C66>�E>�B6>5:=:6>D?�32;?��I2�AE6�D?52<2� B25:24:U>�@?CD6B:?B�56� <?C�2<D2F?46C�6C�56C2@B?F649252��2<�C6B23C?B3:52�@?B�6<�=2D6B:2<�56�B6<<6>?�������$2� F2B:2>D6� =OC� 24DE2<� 56� 6CD?C� B64:>D?C� C?>� <?C� <<2=25?C� 56CEC@6>C:U>� 24VCD:42� �CDO>� 5:C6S25?C� 56� =2>6B2� AE6� 6<5:27B28=2� C6� 56C@<246� 6<� =OH:=?� 4?>� E>� =Q>:=?� 56� 6>6B8Q22@<:4252�6>�CE�3?3:>2��6CD?�C6�92�4?>C68E:5?�6=@<62>5?�>E6F?C=2D6B:2<6C� =EI� 7<6H:3<6C� 6>� <2� 4?>CDBE44:U>� 56� <?C� 4?>?C� ,>2<D2F?J� B6<2D:F2=6>D6� @6AE6S?� AE6� @6B=:D2� E>� 8B2>56C@<2J2=:6>D?� 56<� 5:27B28=2� @E656� 52B� 6<� =:C=?� B6>5:=:6>D?AE6�?DB?�=2I?B�4EI?�4?>?�@6B=:D2�E>�=6>?B�56C@<2J2=:6>D?

)��!&+'*����**�)��$�/�*6� DB2D2�� 6>� 6C6>4:2�� 56� E>� B64:>D?� 46BB25?� 2<� AE6� C6� <6� 92

@B24D:425?�E>�?B:7:4:?��@?B�6<�AE6�C2<6�6<�C?>:5?�86>6B25?�@?B�<2�@2BD6�@?CD6B:?B�56<�2<D2F?J�56�8B2F6C�+2>D?�<24?<?424:U>�4?=?�6<�D2=2S?�56�6CD6�?B:7:4:?�5636>�C6B�56D6B=:>25?C�4?>�@B64:C:U>��@2B2�AE6�6<�F?<E=6>�56<2:B6� 56C@<2J25?� 6CDP� 6>� 72C6� 4?>� <2� C6S2<� AE6� @B?5EJ42� <2� @2BD6� 56<2>D6B2� 56<� 2<D2F?J�� I� 2CQ� B67E6B466764D:F2=6>D6�<2C�32;2C�7B64E6>4:2C���:8����

$2� B6C:CD6>4:2� 24VCD:42� AE6� @B6C6>D2� <2�=2C2� 56� 2:B6� 6H:CD6>D6� 6>� 6<:>D6B:?B�56�<2�42;2��6>�4?>;E>4:U>�4?>�6<�D2=2S?�56<�?B:7:4:?��@B?5E46>�E>56C72C2=:6>D?� 56� ��� 8B25?C� 56� <2� ?>52� B67<6;252� 6>� 6<� :>D6B:?B�� 56=2>6B2�AE6�4E2>5?�6CD2�?>52�232>5?>2�6<�B64:>D?�<?�9246�6>�72C6�4?><2� ?>52� 86>6B252� 6>� 6<� 6HD6B:?B�� 2E=6>D2>5? 2CQ� 6<� B6>5:=:6>D?24VCD:4?� �CD6� B67E6BJ?� 5:C=:>EI6� 92CD2� 56C2@2B646B� 2� =65:52� AE62E=6>D2�<2�7B64E6>4:2��I2�AE6�6<�6764D?��32CC�B67<6H��2764D2�V>:42=6>D62�<2C�32;2C�7B64E6>4:2C

)��!&+'*��'&�$���)!&+'�CD6� D:@?� 56� B64:>D?C� @E656� 4?>C:56B2BC6� 4?=?� E>2� 56B:F24:U>� 56<@B:>4:@:?�ED:<:J25?�6>�6<�5:C6S?�56�<2C�42;2C��32CC�B67<6H���<�F?<E=6>�6>6<�:>D6B:?B�56�6CD?C�B64:>D?C�C6�92<<2�5:F:5:5?�@?B�E>2�C6B:6�56�D23:AE6C�5:C@E6CD?C� 56� 7?B=2�AE6� 42>2<:J2>� I�@B?<?>82>�6<� DBO>C:D?�56� <2�?>5224VCD:42� B67<6;252� @?B� <2� @2BD6� DB2C6B2� 56<� 2<D2F?J�� 5O>5?<6� C2<:527:>2<=6>D6�4?:>4:5:6>5?�4?>�<2�?>527B?>D2<�56<�=:C=?���:8����

�<�4?>5E4D?�6>DB6�<?C�D23:AE6C�D:6>6�E>2�<?>8:DE5�:8E2<�2<�4E2BD?�56�?>5256�<2�7B64E6>4:2�56�B6C?>2>4:2�56<�@B?@:?�2<D2F?J��56�7?B=2�AE6�2@<2>2<2�4B6CD2�56�B6C?>2>4:2�2<�D:6=@?�AE6�2=@<Q2�<2�B6C@E6CD2�56�<2�42;2�6>32;2C� 7B64E6>4:2C� �CD?C� B64:>D?C� 2@?BD2>� E>2� 82>2>4:2� 24VCD:42CE@<6=6>D2B:2��256=OC��6>�<?C�=OB86>6C�=OC�@BUH:=?C�2�<2�7B64E6>4:25?3<6�56�<2�B6C?>2>4:2�56<�@B?@:?�2<D2F?J

��������������� ���,� ������ �

+?�AC@46D25@C�56�F?2�D6W2=�56�2F5:@7C64F6?4:2�6D�4F2=BF:6C�2A2C2E@�BF6�AF656�2=E6C2C�6DE2�D6W2=�56�F?27@C>2�?@�=:?62=�)68Z?�6DE2�567:?:4:Y?��F?�A@E6?4:Y>6EC@�@�F? ������?@�D@?�AC@46D25@C6D�56�=2�D6W2=��J2�BF6=@ BF6� 9246?� TDE@D� 6D� 2F>6?E2C� @� 5:D>:?F:C� =2� 42?E:525� 56� D6W2=� BF6� A2D2� 2� DF� EC2GTD�� D:?� :?EC@5F4:C>@5:7:424:Y?� 2=8F?2� +?� 7:=EC@�� F?� 64F2=:K25@C�� F?� 4@>AC6D@C�� @� F?2� =U?62� 56� C6E2C5@� D:� BF6� AF656?� D6C4@?D:56C25@D�AC@46D25@C6D�56�=2�D6W2=��J2�BF6�=2�>@5:7:42?�56�F?2�7@C>2�F��@EC2�?�6DE6� 2A2CE25@� D6�6DA64:7:42?� 4F2=6D�D@?� =@D�AC@46D25@C6D�>SD�FE:=:K25@D�6?� EC232;@D�56�2>A=:7:424:Y?D@?@C2��J�E2>3:T?�4FS=6D�D@?�DFD�2A=:424:@?6D�>SD�FDF2=6D$@�96>@D� :?4=F:5@� =@D� 7:=EC@D�24E:G@D�5:G:D@C6D�56� 7C64F6?4:2D��@ ������������ J2�BF6� =2�567:?:4:Y?�56�6DE2DF?:5256D� D6� 6?4F6?EC2� 6?� 6=� 42AUEF=@� 5@?56� D6� 923=2� 56� 2=E2G@46D� J� 42;2D� 24ZDE:42D� �6� E@52D� 7@C>2D2=8F?@D�6DA64:2=:DE2D�?@�4@?D:56C2?�BF6� =@D�4C@DD@G6CD�D62?�6I24E2>6?E6�AC@46D25@C6D�56� =2�D6W2=��D:?@>SD�3:6?��EC@4625@C6D��56�=2�>:D>2�=8F?@D�56�6DE@D�AC@46D25@C6D�DF6=6?�6DE2C� :?4=F:5@D�6?� =2D�>6D2D�56�>6K4=2��4@>@�D@?� =@D� 7:=EC@D�J� =@DD:DE6>2D� 56� 64F2=:K24:Y?�� >:6?EC2D� BF6� @EC@D� D6� AC6D6?E2?� 6?� F?:5256D� :?56A6?5:6?E6D� �4@>AC6D@C6D�6I4:E25@C6D��6E4���?�4F2=BF:6C�42D@�6D�:>A@CE2?E6�4@?@46C�4@?�56E2==6�=2D�A@D:3:=:5256D�56�4252�F?:525��2DU4@>@� =@D� A2CS>6EC@D� BF6�?@D�6D� A@D:3=6�>@5:7:42C� 4@?�6=�FD@�ACS4E:4@�56�F?�AC@46D25@C��4EF2=>6?E6� =24@?D64F4:Y?� 56� F?� D:DE6>2� 56� 2>A=:7:424:Y?� 3:6?� 6BF:=:3C25@� A2D2� A@C� =2� :?4=FD:Y?�� 6?� G2C:@D� AF?E@D� 56=D:DE6>2��56�F?:5256D�56�AC@46D25@�4@?�5:DE:?E2D�7F?4:@?6D

��+�"�0��%(�)�/���"*(%)"2� A2=23C2� 64F2=:K2C� 6D� D:?Y?:>2� 56� :8F2=2C�� J2� BF6� 7F6� TDE2� =2� 7F?4:Y?� :?:4:2=� BF6� 56D6>A6W2C@?� =@DAC:>6C@D� 4:C4F:E@D� 64F2=:K25@C6D� �FC2?E6� =2� 4@?DECF44:Y?� 56� =@D� AC:>6C@D� E6?5:5@D� E6=67Y?:4@D� D6� 9:K@A2E6?E6� BF6�� 563:5@� 2� =2� =@?8:EF5� 56� =2D� =U?62D�� D6� AC@5F4U2� F?2� 4@?D:56C23=6� ATC5:52� 6?� E@52D� =2D� 2=E2D7C64F6?4:2D��DE6�9649@�4@>AC@>6EU2�=2�:?E6=:8:3:=:525�56�=2�A2=23C2�56�E2=�>2?6C2�BF6�7F6�?646D2C:@�:?D6CE2C�6?EC6� 6=� 6>:D@C� J� 6=� C646AE@C�� F?� 4:C4F:E@� BF6�2F>6?E2C2� 6=� G2=@C� 56� 6DE2D� 2=E2D� � 7C64F6?4:2D��2DU� =2� D6W2=E6=67Y?:42�==68232�2=�C646AE@C�4@?�6=�>:D>@�G2=@C�BF6�E6?U2�2=�D2=:C�56=�E6=T7@?@�6>:D@C"@�AC:>6C@D�4:C4F:E@D�64F2=:K25@C6D� 7F6C@?�4@?463:5@D��256>SD��A2C2�4@>A6?D2C� =2�A@3C6�C6DAF6DE2� E@?2=BF6�AC6D6?E232?�=@D�2?E:8F@D�>:4CY7@?@D��D:6?5@�:?D6CE25@D�6?EC6�=2�D2=:52�56=�>:4C@�J�6=�2>A=:7:425@C�DU�AF6D��6=�@3;6E:G@�3SD:4@�56�=@D�AC:>:E:G@D�64F2=:K25@C6D�7F6�=2�4@CC644:Y?�56�=2D�567:4:6?4:2D�E@?2=6D�BF6D6�5232?�5FC2?E6�6=�AC@46D@�56�EC2?D76C6?4:2�56�=2�D6W2=�D@?@C2��A2CE:C�56�=@D�2W@D����4@>6?K2C@?�2�5:D6W2CD6�D:DE6>2D�56�64F2=:K24:Y?�>F49@�>SD�G6CDSE:=6D��4@?�=@D�BF6D6�A@5U2�2;FDE2C�4@?�>SD�AC64:D:Y?�=2�C6DAF6DE2�E@?2=�56�=2�G@K�Y�56�=@D�5:DE:?E@D�:?DECF>6?E@D�>FD:42=6D�@J�6?�5U2�D6�56?@>:?2�64F2=:K25@C�2�F?2�F?:525�BF6�A6C>:E6�=2�4@CC644:Y?�56�=2�C6DAF6DE2�6?�7C64F6?4:2D�>65:2?E6�DF�FD@�A@56>@D�:?4C6>6?E2C�Y�5:D>:?F:C�2�G@=F?E25�F?2D�7C64F6?4:2D�56E6C>:?252D��>:6?EC2D�BF6@EC2D�BF652?�:?G2C:23=6D

�%$*(%"�)����*%$%"2�>2J@C�A2CE6�56�2>A=:7:425@C6D� :?E68C25@D��2DU�4@>@�2=8F?@D�>6K4=25@C6D�D6?4:==@D��A@D66?�5@D�@� EC6D4@?EC@=6D�56�E@?@��D6�EC2E2�56=�D:DE6>2�56�64F2=:K24:Y?�>SD�3SD:4@�56�=2�D6W2=�2F5:@��J�DF�7@C>2�56�24EF2C�D656D4C:36�6?�=2�7:8FC2���F2?5@�8:C2>@D�6=�4@?EC@=�56�32;@D�924:2� =2�56C6492��D6� :?4C6>6?E2�6=�?:G6=�56� =2D� 7C64F6?4:2D�32;2D�4@?C6DA64E@�2=�C6DE@�56=�AC@8C2>2��C6DF=E2?5@�F?�D@?:5@�8CF6D@�J�4@?EF?56?E6�):�8:C2>@D�6=�4@?EC@=�56�32;@D924:2� =2� :KBF:6C52��6=� ?:G6=�56�6DE@D� E@?@D�564C646��2A2C64:6?5@�F?� D@?:5@�56=825@�J�D:?� 4@?D:DE6?4:2�):@3D6CG2>@D� =@D� 8CS7:4@D� 56� =2� 7:8FC2� �� A@5C6>@D� 6?E6?56C� >6;@C� 4@>@� 7F?4:@?2� 6DE2� 64F2=:K24:Y?� �=2F>6?E@�Y� =2� C65F44:Y?�56� =2D� 7C64F6?4:2D�D6�AC@5F46��8C25F2=>6?E6��2�A2CE:C�56� =@D�������K��F2?5@�6=4@?EC@=�56�32;@D�6DES�D:EF25@�6?�F?2�A@D:4:Y?�6IEC6>2��6=�4:C4F:E@�86?6C2�F?�2F>6?E@ �@�C65F44:Y?��D@3C6E@52D� =2D� 7C64F6?4:2D�4@>AC6?5:52D�6?EC6� =@D� ��J� =@D������K��5:D>:?FJ6?5@�6DE6�6764E@�8C25F2=>6?E6�2>65:52�BF6�2F>6?E2�=2�7C64F6?4:2�=�4@?EC@=�56�28F5@D�7F?4:@?2�56�F?2�>2?6C2�:5T?E:42�2=�4@?EC@=�56�8C2G6D��:?4C6>6?E2?5@�@�C65F4:6?5@�6=G2=@C�56�=2D�7C64F6?4:2D�A@C�6?4:>2�56�=@D�������K�56�7@C>2�8C25F2=��92DE2�==682C�2�=@D�����!9K��6?EC6�6DE6AF?E@� J� =@D� �� !9K� 6=� G2=@C� 56� =2� 64F2=:K24:Y?� A6C>2?646� 4@?DE2?E6�� 56A6?5:6?5@� 56� 4Y>@� D:EF6>@D� 6=4@?EC@=�C@E2E:G@):� 4@?D:56C2>@D� 6DE@D� 5@D� 4@?EC@=6D� 4@>@� F?� D:DE6>2� 64F2=:K25@C� 2A2CE6�� 5:C6>@D� BF6� D6� EC2E2� 56� F?64F2=:K25@C�56�5@D�32?52D��4@?�F?@D�>SC86?6D�56�24EF24:Y?�56�� �564:36=:@D��6=�AF?E@�56�4@CE6� �D:EF25@D@3C6�=@D�������K��J�=2D�K@?2D�56�>SI:>2�24EF24:Y?�D:EF252D�6?EC6�=@D� ��J���6?EC6�=@D����J�=@D� ��!9K�=8F?@D� >6K4=25@C6D� :?4@CA@C2?� F?@� @� 5@D� 4@?EC@=6D� A2C2� =2� 64F2=:K24:Y?� 56� =@D� E@?@D� >65:@D�� 6==@� =6DA6C>:E6�F?�>2J@C� 4@?EC@=� D@3C6�6DE2D� 7C64F6?4:2D��2� =2D�BF6�6=�@U5@�9F>2?@�6D�>SD�D6?D:3=6��?�4:6CE@D42D@D�� D68Z?� 6=� 5:D6W@� 56� 4252� F?:525�� 5@D� 4@?EC@=6D� 56� E@?@� AF656?� 24EF2C� D@3C6� F?2D� >:D>2D7C64F6?4:2D��D6�5:46�6?E@?46D�BF6�=2D�4FCG2D�56�24EF24:Y?�56 =@D�5@D�4@?EC@=6D�D6�D@=2A2?�&@C�6;6>A=@��):6=�4@?EC@=�56�8C2G6D�24EZ2�6?EC6�=@D� ��J�=@D������K��J�6=�4@?EC@=�56�>65:@D�6764EZ2�DF�7F?4:Y?�6?EC6�=@D�����J=@D�������K��=2D�7C64F6?4:2D�4@>AC6?5:52D�6?EC6�=@D�����J�=@D������K�D6�G6CS?�2764E252D�A@C�=2 24EF24:Y?56�2>3@D�>2?5@D���:8� �

��"*(%)���*�,%)�/�&�)�,%))6�==2>2�7:=EC@�2�4F2=BF:6C�4:C4F:E@�BF6�A6C>:E6�6=�A2D@�2�F?2�32?52�56�7C64F6?4:2D�>:6?EC2D�3=@BF62�2�@EC2D)6�EC2E2�56�F?�5:DA@D:E:G@�7@C>25@�A@C�C6D:DE6?4:2D��4@?56?D25@C6D�Y�3@3:?2D��2�EC2GTD�56=�4FS=�4:C4F=2?�D:?@A@D:4:Y?�F?2D�7C64F6?4:2D�56E6C>:?252D��>:6?EC2D�BF6�@EC2D�D@?�2E6?F252D�Y�DFAC:>:52D�)6�EC2E2�AF6D�56F?� 6=6>6?E@� 3SD:42>6?E6� D6=64E:G@�� 56=� 4F2=� ?@D� D6CG:>@D� D:6>AC6� BF6�BF6C6>@D� 4@CC68:C� @�>@5:7:42C� 6=6BF:=:3C:@�E@?2=�56�F?�AC@8C2>2�>FD:42=):�2E6?56>@D�2�DF�?2EFC2=6K2�6=64ECY?:42��=@D�7:=EC@D�AF656?�5:G:5:CD6�6?�7:=EC@D�24E:G@D�J�A2D:G@D��?�F?�7:=EC@24E:G@� :?E6CG:6?6?�6=6>6?E@D�BF6�AF656?�2>A=:7:42C� =2�D6W2=�D@3C6� =2�BF6� EC232;2?��A@C�6=�4@?EC2C:@��6?�F?7:=EC@�A2D:G@�?@�92J�?:?8Z?�4@>A@?6?E6�BF6�2>A=:7:BF6�6DE2�D6W2=

��"*(%�&�)���"*%)�/���"*(%�&�)���� %)+?�7:=EC@�A2D2�2=E@D�A6C>:E6�6=�A2D@�2�E@52D�=2D�7C64F6?4:2D�A@C�6?4:>2�56�F?2�7C64F6?4:2�56E6C>:?252��D:?>@5:7:424:Y?�2=8F?2��>:6?EC2D�BF6�A@C�5632;@�56�6DE2�7C64F6?4:2�D6�C68:DEC2�F?2�2E6?F24:Y?�AC@8C6D:G2�56=C6DE@�56�7C64F6?4:2D���:8FC2����"2�7C64F6?4:2�5@?56�=2�D6W2=�D6�92�C65F4:5@�6?���5��C6DA64E@�2=�C6DE@�567C64F6?4:2D� D6� 56?@>:?2� AF?E@� 56� 4@CE6� &@C� 5632;@� 56=� AF?E@� 56� 4@CE6� 56� F?� 7:=EC@�� =2D� 7C64F6?4:2D5:D>:?FJ6?�AC@8C6D:G2>6?E6�4@?7@C>6�D6�2=6;2?�56�T=��2�6DE@�D6�=6�56?@>:?2��A6?5:6?E6�56=�7:=EC@��J�D6�>:566?�564:36=:@D�A@C�@4E2G2��I:DE6?�7:=EC@D�A2D2�2=E@D�4@?�5:G6CD2D�A6?5:6?E6D�56�24EF24:Y?��=@D�>SD�4@>F?6DE:6?6?�A6?5:6?E6D�56���5���� �5������5��J� ��5��A@C�@4E2G2��D68Z?�=2�2E6?F24:Y?�BF6�AC6D6?E6?

"@D�7:=EC@D�A2D2�2=E@D�AF656?�D6C�FE:=:K25@D�A2C2�2E6?F2C�=2�D6W2=�2F5:@�6?�SC62D�56�7C64F6?4:2D�5@?56�6I:DE26=� A6=:8C@� 56� CF:5@D�@�5:DE@CD:@?6D�56� E@5@� E:A@�� 4@>@�D@?�A@C�6;6>A=@� =2D�G:3C24:@?6D AC@5F4:52D�A@C� =2DA:D252D�6?�F?�6D46?2C:@��BF6�2�EC2GTD�56�=@D�A:6D�56�>:4C@�AF656?�:?EC@5F4:CD6�J�==682C�92DE2�=2D�6E2A2D�562>A=:7:424:Y?�J�=@D�2=E2G@46D��4@?�C6DF=E25@D�?672DE@D�2=�>6K4=2CD6�4@?�6=�C6DE@�56=�AC@8C2>2�>FD:42=��DE2DG:3C24:@?6D��4@?E:6?6?�7C64F6?4:2D�>FJ�32;2D��6?EC6�=@D���J�=@D�� ���K��J�4Y>@�6DES?�ACS4E:42>6?E6�7F6C2�56=2D� 7C64F6?4:2D�>FD:42=6D� @C5:?2C:2D�� DF� 2E6?F24:Y?�?@� C6AC6D6?E2� ?:?8Z?�AC@3=6>2�%EC@�42D@�D6CU2?� =@D8@=A6D�56�G:6?E@�BF6�AF652�AC@G@42C�F?�42?E2?E6�2?E6�6=�>:4CY7@?@��BF6�DF6=6?�:?EC@5F4:C�CF:5@D�6?EC6�=@D���J� =@D� ����K�� 6DE2D� 7C64F6?4:2D� D6� 6?4F6?EC2?� J2� 6?� F?� 6IEC6>@� 56=� AC@8C2>2�>FD:42=�� J� DF� 2E6?F24:Y?AF656�D6C�>SD�AC@3=6>SE:42�?�4F2=BF:6C�D:DE6>2�56�2>A=:7:424:Y?�D@?@C2�6D� :?E6C6D2?E6�A@56C�5:DA@?6C�56�F?�7:=EC@�A2D2�2=E@D��4@?�F?AF?E@�56�4@CE6�D:EF25@�6?EC6�=@D� ��J�=@D����96C4:@D��J�F?2�A6?5:6?E6�56�24EF24:Y?�BF6��G2J2�56�� �5��A@C@4E2G2� 2� �� 5�� A@C� @4E2G2� �DE6� 7:=EC@� ?@� 2764E2CS� 5:C64E2>6?E6� =2� 3F6?2� C6AC@5F44:Y?� 56� =2D� ?@E2D>FD:42=6D��J2�BF6�A@C 5632;@�56�=@D�����K��6?�F?�5:C64E@��?@�D6�DF6=6�EC232;2C��J�A@C�@EC@�=25@�AC@E686C6>@D

2�=2D�6E2A2D�J�2�=@D�2=E2G@46D�56�D@3C642C82D�@42D:@?252D�A@C�7C64F6?4:2D�?@�56D6252D��DE2D�D@3C642C82DAF656?�D6C�@42D:@?252D�� E2>3:T?��A@C� D6W2=6D� EC2?D:E@C:2D�86?6C252D�A@C� =@D�>:D>@D�AC@46D25@C6D�56� =2D6W2=� �4@>AC6D@C�� C6G6C36C25@C��6E4���?�@42D:@?6D� =2D�6E2A2D�56�A@E6?4:2�J2� ==6G2?� :?4@CA@C25@�F?� 7:=EC@A2D2�2=E@D��D:�=2D�6E2A2D�4@?�=2D�BF6�D6�EC232;2�?@�=@�==6G2?��D:6>AC6�E6?6>@D�=2�A@D:3:=:525�56�:?4@CA@C2C=@ 2=6BF:A@��;FDE@�2?E6D�56�BF6�=2�D6W2=�2F5:@�6?EC6�6?�=2�6E2A2�56�A@E6?4:2�=�7:=EC@�A2D2�32;@D�24EZ2�56�7@C>2�D:>:=2C�2=�A2D2�2=E@D��A6C@�=2D�7C64F6?4:2D�BF6�D@?�2E6?F252D�D@?�=2D�BF6D6�6?4F6?EC2?�A@C�6?4:>2�56=�AF?E@�56�4@CE6� ��:8FC2����)6�FE:=:K2�A2C2� C64@CE2C�2BF6==2D� 7C64F6?4:2D�BF66DES?�>2D�2==S�56=�6DA64EC@�>FD:42=�2F5:3=6��J�E2>3:T?�A2C2�C65F4:C�CF:5@D�@42D:@?25@D�A@C�6=�AC@A:@�D:DE6>256�2>A=:7:424:Y?���>6?F5@�D6�EC232;2�4@?�2=E2G@46D�BF6�E:6?6?�F?�=U>:E6�6?�=@�C676C:5@�2�=2D�7C64F6?4:2D�BF6AF656?� C6AC@5F4:C� �&@C� 6;6>A=@� F? �������� AC6A2C25@� A2C2� C6AC@5F4:C� 7C64F6?4:2D� 6?EC6� �� J� ���!�K��� 2=C64:3:C�7C64F6?4:2D�DFA6C:@C6D�2�=@D����!9K��6DE6�EH66E6C�5:DE@CD:@?2CS�56�7@C>2�:?>65:2E2�"2�:?4@CA@C24:Y?56�F?�7:=EC@�A2D2�32;@D�4@?�F?�AF?E@�56�4@CE6�D:EF25@�6?EC6�=@D����J�=@D����!9K�C6D@=G6CU2�6DE6�AC@3=6>2"@D� 7:=EC@D�A2D2�32;@D�24@DEF>3C2?�2� E6?6C�F?2�A6?5:6?E6�6?EC6���5��J�� �5��A@C�@4E2G2��J�DF�AF?E@�564@CE6�D6�D:EZ2�6?EC6�=@D����!9K�J�=@D� ��!9K��D68Z?�DF�2A=:424:Y?�ACS4E:42�?�=@D�D:DE6>2D�56�8C2324:Y?�5:8:E2=�D6�:?4@CA@C2?�D:6>AC6�F?@D�7:=EC@D�A2D2�32;@D�4@?�F?2�A6?5:6?E6�>FJAC@?F?4:252��56=�@C56?�56�=@D����5��A@C�@4E2G2�)@?�7:=EC@D�6DA64:2=6D�BF6�?@�A6C>:E6?�6=�A2D@�2�?:?8F?27C64F6?4:2� BF6� ?@� AF652� D6C� >F6DEC6252� Y� 4@5:7:4252� 6?� 6=� D:DE6>2� 5:8:E2=�� J� D6� 4@?@46?� 4@>@� 7:=EC@D2?E:�2=:2D:?8�F2?5@�F?�7:=EC@�6D��2�=2�G6K��A2D2�2=E@D�J�A2D2�32;@D�6D�4@?@4:5@�4@>@�7:=EC@�A2D2�32?52��DE6�E:A@�56�7:=EC@DD@?� =@D� BF6� D6� :?4@CA@C2?� 6?� E@5@� E:A@� 56� 64F2=:K25@C6D�� A2C2� 2DU� A@56C� EC232;2C� 4@?� F?2D� 32?52D� 567C64F6?4:2D�A6C764E2>6?E6�56E6C>:?252D���:8���

��+�"�0��%(�)��(N���%)):�6?�=F82C�56�5:DA@?6C�56�DY=@�5@D�4@?EC@=6DA2C2� 4@CC68:C� 2� ?F6DEC@� 8FDE@� F?� AC@8C2>2>FD:42=�� 4@?E2>@D� 4@?� 4:?4@�� 5:6K�� @� >SD4@?EC@=6D� BF6� 6764EZ6?� 2� =2� G6K� 6DE64@>6E:5@� D@3C6� E@5@� 6=� 6DA64EC@� 567C64F6?4:2D��A@5C6>@D�@3E6?6C�F?� C6DF=E25@24ZDE:4@�>F49@�>SD�AC64:D@��DE@�6D�A@D:3=64@?� =2� FE:=:K24:Y?� 56=� 64F2=:K25@C� 8CS7:4@�6BF:A25@ 4@?� >2?5@D� 56� E:A@� 56D=:K2?E6�A6C>:E6� =2� CSA:52� G:DF2=:K24:Y?� 56� DF� 4FCG256�EC232;@�252� 4@?EC@=� A6C>:E6� 6=� :?4C6>6?E@ �@� =2C65F44:Y?��6?�=2�2>A=:7:424:Y?�56�F?�C65F4:5@

>2C86?�56�7C64F6?4:2D�&2C2�6==@�4252�F?:525�4@?E:6?6�7:=EC@D�A2D2�32?52�BF6�5:G:56?�6=�6DA64EC@�D@?@C@�6?E2?E2D� A2CE6D� 4@>@� 4@?EC@=6D� 5:DA@?82� 6=� 2A2C2E@�� =F68@� 6=�>2?6;@� 56� 4252� 4@?EC@=� 56D=:K2?E6� A6C>:E6� 6=2;FDE6�AC64:D@�56�=2�C6DAF6DE2�E@?2=�BF6�D6�56D66�?EC6�=@D�4@?EC@=6D�56�F?�64F2=:K25@C�8CS7:4@�AF656�9236C�F?2�5:DE2?4:2�6? 7C64F6?4:2D�56�F?2�@4E2G2��>65:2@4E2G2�� @� F?� E6C4:@� 56� @4E2G2�� D:� 3:6?� 2=8F?@D� >@56=@D� EC232;2?� 4@?� >SC86?6D� >SD� 2>A=:@D� @� >SD6DEC649@D� "2� 7C64F6?4:2� 46?EC2=� D@3C6� =2� BF6� @A6C2� 4252� 7:=EC@� 6DES� D:6>AC6� 6DA64:7:4252� 2=� A:6� 56� 42524@?EC@=��J�6=�:?4C6>6?E@�@�C65F44:Y?�BF6�D6�AF656�@3E6?6C�D@3C6�4252�8CFA@�56�7C64F6?4:2D�6D�56=�@C56?�56� �����Y����564:36=:@D��D68Z?�=@D�>@56=@D�"2�7C64F6?4:2�46?EC2=�56�F?�7:=EC@��@�7C64F6?4:2�?@>:?2=��?@D�:?5:426=�AF?E@�5@?56�6DE6� 7:=EC@�24EZ2�4@?�>2J@C� :?E6?D:525��2F>6?ES?5@=2�@�2E6?FS?5@=2�4@?�AC676C6?4:2�D@3C6=2D�7C64F6?4:2D�G64:?2D��:8FC2��

�=� 64F2=:K25@C� 8CS7:4@� D6� FE:=:K2� A2C2� 4@CC68:C� =2� C6DAF6DE2� 24ZDE:42� 56�F?� C64:?E@�� J� E2>3:T?�D6�FD2�6?� =24@CC644:Y?�56�AC@8C2>2D�8C2325@D�J�5FC2?E6�=2 C6AC@5F44:Y?�>FD:42=

�=� 3F6?� FD@� 56� F?� 64F2=:K25@C� 8CS7:4@� ?@D� A6C>:E6� C65F4:C� =@D� A:4@D� J� =@D� G2==6D� 6?� =2� C6DAF6DE2� 56� =@D2=E2G@46D��@AE:>:K2?5@�DF�7F?4:Y?�J�AC6G:?:6?5@�=2�2A2C:4:Y?�56�=2�C62=:>6?E24:Y?�24ZDE:42��4F2?5@�D6�EC232;66?�5:C64E@���:8FC2 ��

�@?64E25@�2� =2�D2=:52�56� =2�>6D2�56�>6K4=2D��6=�64F2=:K25@C�8CS7:4@�?@D�724:=:E2�=2�@3E6?4:Y?�56�F?�D@?:5@4=2C@�J�6BF:=:3C25@��23:EF2=>6?E6�=2D�7C64F6?4:2D�>65:2D�D6�=6D�2A=:42�F?2�64F2=:K24:Y?�DF2G6���� �5�D��>:6?EC2D�BF6�=2D�7C64F6?4:2D�8C2G6D�DF6=6?�D6C�:?4C6>6?E252D�A2C2�52C�F?2�D6?D24:Y?�56�A@E6?4:2�>FD:42=�2�?@�D6C�BF6�6I:DE2?�AC@3=6>2D�D6C:@D�56� C6G6C36C24:Y?�6?�6=� C64:?E@��6?�4FJ@�42D@� =@D� E@?@D�8C2G6D�BF6AC@G@BF6?�6DE6�6L64E@�5636?�D6C�C65F4:5@D���=2D�2=E2D�7C64F6?4:2D�D6�=6D�DF6=6�2A=:42C��E2>3:T?��F?2�4:6CE282?2?4:2�56D56�6=�64F2=:K25@C��4@?�=@�BF6�=2�>ZD:42�82?2�6?�3C:==2?E6K��F2?5@�6I:DE2�2=8Z?�AC@3=6>2�4@?�6=C64@?@4:>:6?E@�56� =2D�G@46D�� =@D�4@?EC@=6D�56� =2D� 7C64F6?4:2D�>65:2D�AF656?�D:EF2CD6�92DE2����5�D��4@?6==@�D6�>6;@C2�=2�C6AC@5F44:Y?�56�=2�G@K�9F>2?2��BF6�82?2�6?�4=2C:525

��+�"�0��%(�)�&�(�#P*(��%)�F2?5@�D6�FE:=:K2�4F2=BF:6C�64F2=:K25@C�92J�BF6�E6?6C�AC6D6?E6�4FS=�6D�6=�G2=@C�56�=@D�5:DE:?E@D�A2CS>6EC@DBF6� AF656?� D6C�>@5:7:425@D� ):� 3:6?� TDE@D� G2CU2?�56�F?�>@56=@� 2� @EC@�� =@D� 2DA64E@D� BF6�F?�64F2=:K25@CAF656�>@5:7:42C�D@?�EC6D���C64F6?4:2�?@>:?2=��2?49@�56�32?52�J�A6?5:6?E6�56�24EF24:Y?"2�7C64F6?4:2�?@>:?2=�56�F?�7:=EC@�:?5:42�=2�7C64F6?4:2�46?EC2=�6?�BF6�6DE6�7:=EC@�24EZ2�4@?�>2J@C�:?E6?D:525�6DE6�AF?E@�6D�7:;@�6?�=@D�64F2=:K25@C6D�8CS7:4@D��A6C@�6?�=@D�A2C2>TEC:4@D�AF656�D6=644:@?2CD6�2�G@=F?E25�=� 2?49@� 56� 32?52� �@� '� 56=� 7:=EC@�� ?@D� :?5:42� 4FS=� 6D� 6=� >2C86?� 56� 7C64F6?4:2D� BF6� C6DF=E2?� 2=E6C252D>:6?EC2D�24EZ2�6=�7:=EC@�4@CC6DA@?5:6?E6��DU�=@D�7:=EC@D�56�32?52�6DEC6492�24EZ2?�D@3C6�>SC86?6D�56�E2?�DY=@�� �56�@4E2G2��>:6?EC2D�BF6� =@D�56�32?52�2?492�AF656?�24EF2C�D@3C6�F?�>2C86?�56� 7C64F6?4:2D� :8F2=�@>2J@C�BF6�F?2�@4E2G2&@4@D� 64F2=:K25@C6D� A6C>:E6?� =2� D6=644:Y?�56=� 2?49@�56�32?52�2� G@=F?E25�� =2�>2J@CU2� EC232;2?� 4@?�F?@D>SC86?6D� 7:;@D� A2C2� 4252� 7:=EC@�� BF6� =:>:E2?� 4@?� =@D� >SC86?6D� 56� 24EF24:Y?� 56� =@D� 7:=EC@D� 4@=:?52?E6D

R?:42>6?E6� =@D� 64F2=:K25@C6DA2C2>TEC:4@D�?@D�A6C>:E6?�G2C:2C�D68Z?� 4@?G6?82�� 6=� 2?49@� 5632?52�56�F?�7:=EC@���:8FC2���"2� A6?5:6?E6� @� :?4=:?24:Y?� 56� F?7:=EC@� :?5:42� =2� C65F44:Y?� @� 6=:?4C6>6?E@� >SI:>@D� BF6� AF6564@>A@CE2C�DF�FD@��J�D6�6DA64:7:426?� 564:36=:@D� A@C� @4E2G2$@C>2=>6?E6� D6� DF6=6?� 6>A=62C

A6?5:6?E6D��>SI:>2D�56����2�� �5�%4E�A2C2�E@5@�E:A@�56�2A=:424:@?6D�>FD:42=6D�F2?5@� F?� 64F2=:K25@C� A6C>:E6� 6=� 4@?EC@=� 56� =2� 7C64F6?4:2� 56� 24EF24:Y?�� 56=� 2?49@� 56� 32?52�� J� 56� =282?2?4:2� @� 2E6?F24:Y?� D@3C6� =2D� 7C64F6?4:2D� AC656E6C>:?252D�� ?@D� 92==2>@D� 2?E6� F?� 64F2=:K25@CA2C2>TEC:4@��?�=2�7:8FC2���A@56>@D�4@>AC@32C�G:DF2=>6?E6�=2D�4FCG2D�56�24EF24:Y?�56�F?�A2C2>TEC:4@�56EC6D�32?52D�+?2�56�=2D�G6?E2;2D�>SD�6G:56?E6D�56�EC232;2C�4@?�6DE@D�64F2=:K25@C6D��6D�BF6�A6C>:E6?�24EF2CD@3C6�F?2�7C64F6?4:2�4@?4C6E2��D:?�>@5:7:42C�=2D�7C64F6?4:2D�25J246?E6D &2C2�6==@�D6��>F6G6�6=�4FCD@C�BF6:?5:42�=2�7C64F6?4:2�?@>:?2=��2�4252�>@G:>:6?E@�D6�4@>ACF632�4@?�6=�>2?5@��82:?��D:�J2�24EF2>@D�D@3C6�=27C64F6?4:2� 6?� 4F6DE:Y?�� J� F?2� G6K� 92==252� D6� D:EZ2� 6=� 4@?EC@=� �'�� 6?�6=�>U?:>@� ������ =@� BF6� :?5:42� BF6� D6EC232;2�4@?�6=�2?49@�56�32?52�>SD�6DEC649@

��2=8F?@D�@A6C25@C6D�56�D@?:5@�?@�=6D�28C252�EC232;2C�4@?�6DE6�E:A@�56�64F2=:K25@C6D��A@C�=2�5:7:4F=E25�BF64@?==6G2� 6=� 2;FDE6� 56� E@5@D� =@D� A2CS>6EC@D� BF6� 4@?E:6?6� �6� 9649@�� =2� FE:=:K24:Y?ACS4E:42� 56� 6DE2D� F?:5256D� AC64:D2� 56� F?� 3F6?� 4@?@4:>:6?E@� D@3C6� =2D� 7C64F6?4:2DBF6�D6�56D66�C64E:7:42C��J�6DE@�D:?�6=�2FI:=:@�56�F?�2?2=:K25@C�56�6DA64EC@�?@�6D�?2527S4:=� &@C� @EC@� =25@�� 6=� FD@� :?2564F25@� 56� 6DE@D� 4@>A=6;@D� 64F2=:K25@C6D� AF656242CC62C� D@?:5@D� 2CE:7:4:@D@D� J� 92DE2� 56D28C2523=6D�� BF6� 72=D:7:BF6?� F?� >6?D2;6>FD:42=�92DE2�9246C=@�:CC64@?@4:3=6"@D� 4@?EC@=6D� 56� 64F2=:K24:Y?� BF6� D6� 6?4F6?EC2?� 6?� =@D� 42?2=6D� 56�6?EC252�56� =2D>6D2D�56�>6K4=2�56�42=:525�?@�DF6=6?�A6C>:E:C�6=�2;FDE6�56=��'��Y�2?49@�56�32?52�A6C@� D:� =2� 7C64F6?4:2� 56� 24EF24:Y?� J� =2� A6?5:6?E6�� )6� =6D� 56?@>:?2� 64F2=:K25@C6DD6>:�A2C2>TEC:4@D���:8FC2�����@?G:6?6� E6?6C� 6?� 4F6?E2� BF6�� D:� FE:=:K2>@D� 64F2=:K24:Y?� A2C2>TEC:42� D@3C6� F?AC@8C2>2� >FD:42=� U?E68C@�� F?2� 82?2?4:2� 6I46D:G2� 2A=:4252� D@3C6� 4F2=BF:6C� 32?52C65F4:CS� =@D� =U>:E6D�5:?S>:4@D�6?�F?�D:DE6>2�56�A@E6?4:2�&@5CS?�2A2C646C�4=:AD�6?=2D� 6E2A2D�� J� =@D� 2=E2G@46D� BF6� C6AC@5FK42?� =2D� 7C64F6?4:2D� D@3C65:>6?D:@?252D4@CC6CS?�6=� C:6D8@�56�D2EFC2CD6��?�6DE@D�42D@D�D6CS�4@?G6?:6?E6�C65F4:C�6=�?:G6=�56D2=:52�86?6C2=�Y�3:6?�C632;2C�=2�82?2?4:2�56=�64F2=:K25@C):� =@D� 7:=EC@D�56�F?�A2C2>TEC:4@� EC232;2?�4@?�F?� �'��>FJ�2?49@��AF656?�AC@G@42C�6=6764E@� �C:?8:?8��� BF6� 4@?D:DE6� 6?� =2� E6?56?4:2� BF6� E:6?6?� F?� 7:=EC@� 56� C6D@?2C� 2� DF7C64F6?4:2� 46?EC2=� 4F2?5@� =2D� @?52D� 56� =2� D6W2=� 2F5:@� 4@:?4:56?� 4@?� =2� >:D>27C64F6?4:2� �DE6� 6764E@� AF656� 6?>2D42C2CD6� >65:2?E6� =2� >:D>2� C6G6C36C24:Y??@C>2=� BF6� AC@5F46� 6?� 5:C64E@� F?� D:DE6>2� 56� 2>A=:7:424:Y?�� A6C@� D:� D6� EC232;2� 6?6DEF5:@� 6D� AC64:D@� 4@>A6?D2C� 6DE6� 6764E@�� C65F4:6?5@� =2� 82?2?4:2� 56=� 7:=EC@�� @� 3:6?6DEC6492?5@�DF�2?49@�56�32?52��4F2?5@�6DE@�6D�A@D:3=6

�"�"+��(���"���+�"�0��%(�=� >2C86?� 56� =@D� 7:=EC@D� 64F2=:K25@C6D� AC6D6?E6D� 6?� =2D� >6D2D� 56� >6K4=2�� 6=� 64F2=:K25@C� 5636� D:EF2CD6D:6>AC6� 6?EC6� F?� 2>A=:7:425@C� 56� G@=E2;6� J� F?2� 6E2A2� 56� A@E6?4:2� +?� 64F2=:K25@C� 6DES� AC6A2C25@� A2C2EC232;2C�4@?�D6W2=6D�2F5:@�56�32;@�?:G6=��J�?@�6D�A@D:3=6�6?G:2C=6�=2�D6W2=�F?2�G6K�TDE2�J2�92�D:5@�2>A=:7:42526?�A@E6?4:2�23:EF2=>6?E6� =@D�64F2=:K25@C6D�AC64:D2?�5:DA@?6C��6?�DF�6?EC252��56� =2�D6W2=�2F5:@�4@?�F?�G@=E2;6�J�F?2:>A652?4:2� 56E6C>:?252D�� A2C2� @A6C2C� 4@CC64E2>6?E6�� 6DE@D� G2=@C6D� G:6?6?� D:6>AC6� 6DA64:7:425@D� 6?� =2D:?DECF44:@?6D�56�4252�F?:525��?�=@�C676C6?E6�2�=2D�D6W2=6D�BF6�AC@G:6?6?�56�F?�>:4CY7@?@�@�56�=2�4SADF=256� F?� 8:C25:D4@D�� 4@>@� DF6=6?� D6C� 56>2D:25@� 5T3:=6D� A2C2� D6C� EC2E252D�A@C� 6=� 64F2=:K25@C�� D6CS� D:6>AC6?646D2C:@�AC6�2>A=:7:42C=2D��J2�D62�>65:2?E6�F?�AC6G:@�@�3:6?�A@C�6=�AC@A:@�42?2=�56�6?EC252�56�=2�>6D2�56>6K4=2D���:8FC2�����?�=@D�6BF:A@D�5@>TDE:4@D�56�C6AC@5F44:Y?�>FD:42=�6=�64F2=:K25@C�D6�D:EZ2�6?�AF6?E6�D@3C6�6=�2>A=:7:425@C:?E68C25@��?�=@D�D:DE6>2D�56�A@E6?4:2�A2C2�5:C64E@D������� ��������6=�64F2=:K25@C�BF6�24EZ2�D@3C6�E@5@ 6=AC@8C2>2�D6�D:EZ2�2�=2�D2=:52�56�=@D�4@?EC@=6D�>2DE6C�56�=2�>6D2��2?E6D�56�BF6�=2�D6W2=�==68F6�2�=2D�6E2A2D56�A@E6?4:2�4@CC6DA@?5:6?E6D

+*�"�0���Q$�&(��*������"���+�"�0��%(��(N���%&2C2�@3E6?6C�F?�C6DF=E25@�D2E:D724E@C:@�2=�FD2C�F?�64F2=:K25@C�8CS7:4@��6D�AC64:D@�4@?@46C�AF?EF2=>6?E6�=2D7C64F6?4:2D�BF6�D6�G2J2?�2�>@5:7:42C��J2�BF6�56�=@�4@?EC2C:@�AF656?�2A2C646C�5:DE@CD:@?6D�56�72D6��563:5@�2=2� AC@I:>:525� 4@?� BF6� @A6C2?� =@D� 7:=EC@D� 6?EC6� DU� �D� C64@>6?523=6�� AF6D�� 24EF2C� 4@?� 4:6CE2� ACF56?4:2� JAC@4FC2C��6?� E@5@D� =@D�42D@D��BF6�?@�92J2�56>2D:252�5:76C6?4:2�6?EC6� =2�82?2?4:2�56�F?� 7:=EC@�J� =2�56� =@D7:=EC@D�2?6I@D

�;6>A=@�� ):� EC232;2>@D� 4@?� F?� 64F2=:K25@C� 8CS7:4@� 56� ��� 56� @4E2G2�� J� 5:DA@?6>@D� F?� :?4C6>6?E@� 56� �564:36=:@D�A2C2�6=�7:=EC@�4@CC6DA@?5:6?E6�2������K��=@D�7:=EC@D�D:EF25@D�2�2>3@D�=25@D �����J������K��AF656?D:EF2CD6�4@?�F?2�82?2?4:2�6?EC6���J���5�D�4@>@�>SI:>@��D:6?5@�AC676C:3=6�5:76C6?4:2D�>6?@C6D,2>@D� 2� 5:G:5:C� E@52� =2� 82>2� 56� E@?@D� 2F5:3=6D� 6?� D6:D� 8C2?56D� 8CFA@D�� A2C2� 2AF?E2C� 4F2=6D� D@?� =2D42C24E6CUDE:42D�3SD:42D�56�4252�F?@�

�(+�����&��%��(�#���&�)@?�=2D�4@>AC6?5:52D�6?EC6�=@D����J�=@D����96C4:@D��DE2D�7C64F6?4:2D�D@?�=2D�BF6AC@A@C4:@?2?�=2�D6?D24:Y?�56�A@E6?4:2�6?�4F2=BF:6C�2F5:4:Y?�>FD:42=&F656?�D6C� :?4C6>6?E252D�4@?�6=�64F2=:K25@C��A6C@�6D�AC64:D@�>F492�ACF56?4:2��J2�BF6�4F2=BF:6C�6I46D@?@D�AF656�4@?5F4:C�2�F?�6?>2D42C2>:6?E@�56=�AC@8C2>2�>FD:42=�4@?@4:5@�4@>@��3@=2�56��8C2G6D��&@C�@EC@=25@�6=�CF:5@�56�7@?5@�86?6C25@�A@C�=@D�EC2?D7@C>25@C6D�6=64ECY?:4@D�D6�6?4F6?EC2�6?EC6�=@D����J�=@D�����K�D68Z?�=2�4@CC:6?E6�2=E6C?2�2�=2�BF6�6=�D:DE6>2�D6�4@?64E6���2DU�BF6�A2C2�C65F4:C=@�32DE2�4@?�32;2C�6=�4FCD@C4@CC6DA@?5:6?E6�2�6DE2�7C64F6?4:2����&� �%��(�#���&� &F656?� D:EF2CD6� 6?EC6� =@D� ��� J� =@D� ��� 96C4:@D� )@?� =2D� BF6� 4@?E:6?6?� =2D� ?@E2D7F?52>6?E2=6D� 56� =2� D644:Y?� CUE>:42� +?� C67F6CK@� 6I46D:G@� 2� 6DE2� 32?52� AF656� 52C� =F82C� 2� F?� D@?:5@2EC@?25@C�� 6=� 6BF:=:3C:@� 6?EC6� 6DE@D� E@?@D� 6D� 56E6C>:?2?E6� A2C2� F?� 4@CC64E@� 32=2?46� >FD:42=� �?D@?@C:K24:@?6D�56�>ZD:42�C@4<�92J�BF6�4@?EC@=2C�5@?56�6DES�6=�7:=EC@�BF6�A@E6?4:2�@�2E6?Z2�6=�A:6�56�3@>3@�A2C2�5:76C6?4:2C=@�4@?�=:>A:6K2�56�=@D�24@C56D�BF6�AF656�86?6C2C�6=�32;@�6=T4EC:4@%��(�#���&������&�����&��?EC6�=@D� ���J�=@D� ����96C4:@D��DE2�32?52�4@?E:6?6�=@D�2C>Y?:4@D�>SD�32;@D56� =2�>2J@CU2�56� :?DECF>6?E@D�>FD:42=6D��J� E2>3:T?�D6�6?4F6?EC2?�6?�6==2� =@D�7@C>2?E6D�8C2G6D�56� =2�G@K9F>2?2�+?�C67F6CK@�6I46D:G@�6?�6DE2�32?52�AF656�AC@5F4:C�=2�72E:82�6?�=@D�@J6?E6D��D:�6=�C67F6CK@�D6�46?EC26?EC6�=@D�����J�=@D�������K��6=�D@?:5@�C6DF=E2?E6�A2C646CS�BF6�AC@4656�56=�:?E6C:@C�56�F?�EF3@��@>@�?@C>286?6C2=�� 4F2?5@� D6� EC232;6� 4@?� A@E6?4:2D� 56� D@?:5@� 6=6G252D�� 6=� 4FCD@C� 56� ���� 96C4:@D� J� =@D� BF6� D66?4F6?EC2?�25J246?E6D�5636?�D6C�FE:=:K25@D�A2C2�2E6?F2C�=6G6>6?E6�6DE2D�7C64F6?4:2D%��(�#���&������&��!'�&���?EC6�=@D� ����J�=@D������96C4:@D��?�6DE2�32?52�D6�6?4F6?EC2?�=2�>2J@CU2�567@C>2?E6D�56�=2�G@K�9F>2?2��D:6?5@�6D6?4:2=�F?2�4@CC64E2�64F2=:K24:Y?�A2C2�@3E6?6C�F?2�C6AC@5F44:Y?�4=2C256� =2D� G@46D� ):� >@5:7:42>@D� 6?� 6I46D@� 6DE@D� E@?@D�� G2C:@D� 7@?6>2D� C6DF=E2CS?� 4@?7FD@D� 5FC2?E6� =22F5:4:Y?��256>SD�F?�C67F6CK@�6I46D:G@�6?EC6�=@D������J�=@D�������K�E2>3:T?�42FD2�72E:82�2F5:E:G2%��(�#���&� �!'�&�� "2D� D:EF2>@D� 6?EC6� =@D� �� J� =@D� �� !9K� �DE2� 32?52� 4@?E:6?6� =2� A2CE6� 6D6?4:2=� 56� =@D2C>Y?:4@D� 56� =2� G@K� J� E2>3:T?� 56� ?F>6C@D@D� :?DECF>6?E@D� >FD:42=6D�� D:6?5@� C6DA@?D23=6� 56� =2EC2?DA2C6?4:2�J�?:E:56K�56=�>6?D2;6�D@?@C@�+?�:?4C6>6?E@�6?�=@D�4FCD@C6D�2=C6565@C�56�=@D���!9K��AC@5F466?�?F6DEC@�@U5@�F?�6764E@�D:>:=2C�2=�BF6�D6�@3E6?5CU2�5FA=:42?5@�=2�A@E6?4:2�D@?@C2�E@E2=%��(�#���&�"(+��!'�&�)@?�=2D�BF6�D6�92==2?�6?EC6�=@D���J�=@D����!9K�$@D�D6CG:CS?�A2C2�E6?6C�F?�4@?EC@=AC64:D@�D@3C6�6=�3C:==@�J�=2�?:E:56K�56=�D@?:5@�+?�:?4C6>6?E@�6I286C25@�56�6DE2D�7C64F6?4:2D�AF656�52C�=F82C2� =2� 2A2C:4:Y?� 56� D:D6@D� @� CF:5@D� 56� U?5@=6� 6=64ECY?:42�� 42FD25@D� A@C� 5:G6CD@D�>@E:G@D� ):� C6AC@5F4:>@D2=8Z?�AC@8C2>2�C68:DEC25@�6?�4:?E2�42D6E6��J�D6�25G:6CE6�6=�>@=6DE@��D@A=:5@��56�=2�4:?E2��32DE2�4@?�2E6?F2C=@D�4FCD@C6D�D:EF25@D�6?EC6�=@D���J�=@D���!9K�A2C2�BF6�TDE6�5:D>:?FJ2�4@?D:56C23=6>6?E6

�?�86?6C2=��=2�7@C>2�:5Y?62�56�AC@4656C�2�F?2�64F2=:K24:Y?�4@?D:DE6�6?�4@>A2C2C�=2�C6DAF6DE2��A=2?2��4@?�=264F2=:K252�� AC@4FC2?5@�BF6� =2�5:76C6?4:2�6?EC6�F?2�J�@EC2�?@�D62�6I286C252��=�3F6?�FD@�56=�64F2=:K25@C8CS7:4@� ?@D� A6C>:E6� >6;@C2C� =2� 4=2C:525� 56=� >6?D2;6� D@?@C@�� 2DU� 4@>@� D@=G6?E2C� A@D:3=6D� 236CC24:@?6D24ZDE:42D�BF6�AC6D6?E6�6=�C64:?E@�5@?56�D6�6764EZ6�=2�2F5:4:Y?&2C2�>6DFC2C�4@?�AC64:D:Y?�=2�C6DAF6DE2�6?�7C64F6?4:2D�56�F?�D:DE6>2��6D�AC64:D@�FE:=:K2C�F?�2?2=:K25@C�566DA64EC@� ):� A2C2� 64F2=:K2C� 6DE6� D:DE6>2� FD2>@D� F?2� F?:525� 4@?� F?2� D6A2C24:Y?� 6?EC6� 7:=EC@D� 56� ��� 56@4E2G2��6=�2?2=:K25@C�BF6�D6�6>A=66�5636CS�E6?6C�=2�>:D>2�C6D@=F4:Y?��J�D6C�42A2K�56�>@DEC2C?@D�5FC2?E6=2D�ACF632D�=2�C6DAF6DE2�56=�D:DE6>2�4@?�:?E6CG2=@D�56����56�@4E2G2��=8F?@D�2?2=:K25@C6D�A@CESE:=6D�4@?�=@D8CS7:4@D�7@C>25@D�A@C�"���@�"���D@?�=@D�>SD�ACS4E:4@D�A2C2�6DE6�4@>6E:5@

�%#&(�)%(�)�/�"�#�*��%(�)�F2?5@� F?� AC@46D25@C� C65F46� 6=� C2?8@� 5:?S>:4@� 56� =2� D6W2=� 2F5:@�� C64:36� 6=� ?@>3C6� 56� 4@>AC6D@C� @=:>:E25@C�"2�5:?S>:42�D@?@C2�6?�F?�4@?4:6CE@�6?�G:G@�AF656�==682C��6?�@42D:@?6D��2�DFA6C2C�=@D��� ��5�D�):D6�56D62�C68:DEC2C�6=�4@?4:6CE@�6?�F?�>28?6EY7@?@��D6CS�AC64:D@�4@>AC:>:C�=2�5:?S>:42�>FD:42=�56?EC@�56�F?>2C86?� 56� F?@D� ��� 5��� J2� BF6� TDE6� 6D 6=�>2C86?� 5:?S>:4@� 56� =2� 8C2324:Y?� 2?2=Y8:42� ):� 6=� C68:DEC@� D66764EZ2�FE:=:K2?5@�F?�8C2325@C�5:8:E2=� ���*��� E2>3:T?�D6CS�AC64:D@�4@>AC:>:C�6=�>2C86?�>FD:42=�2�F?@D���5�D�� J2� BF6� TDE6� 6D� 6=� >2C86?� 923:EF2=� 56=� C68:DEC@� 5:8:E2=� �?� 6DE6� Z=E:>@� 42D@� D6CS :>A@CE2?E6� =:>:E2C5CSDE:42>6?E6�=2D�D6W2=6D�>SD�:?E6?D2D��J2�BF6�4F2?5@�D6�6764EZ2?�C68:DEC@D�5:8:E2=6D�4F2=BF:6C�D6W2=�BF6C632D6�6=�=U>:E6�AC@5F4:CS�F?2�5:DE@CD:Y?�6?�E@5@�6=�AC@8C2>2�F2?5@�D6�EC232;2�4@?�G2C:@D�:?DECF>6?E@D�6?�5:C64E@��EC2E2>@D�56�>2?E6?6C�F?�4:6CE@�6BF:=:3C:@�D@?@C@�6?EC66==@D��A2C2�BF6�?:?8Z?�:?DECF>6?E@�E2A6�2�@EC@�563:5@�2�F?2�>2J@C�:?E6?D:525�D@?@C2��*2>3:T?�?@D�:?E6C6D2BF6�=2D�D6W2=6D�56�E@5@D�=@D�:?DECF>6?E@D�==68F6?�2�=2�>6D2�4@?�F?2�:?E6?D:525�4@?DE2?E6��@�A@C�=@�>6?@D

D:?�BF6�92J2�8C2?56D�42>3:@D�56�G@=F>6?�56�F?�:?DECF>6?E@�C6DA64E@�2�@EC@�"2�FE:=:525�56=�4@>AC6D@C�A2C26DE2D�7F?4:@?6D�6DES�7F6C2�56�E@52�5F52"2� 4@>AC6D:Y?� E2>3:T?� D6� 2A=:42� 2� =2D� A2CE6D� G@42=6D�� J2� BF6� 2�>6?F5@� 6=� ?:G6=� 56� TDE2D� 7=F4EZ2� 6?EC6?:G6=6D�56>2D:25@�:?E6?D@D �BF6�AF656?�AC@G@42C� =2�5:DE@CD:Y?��J�?:G6=6D�56>2D:25@�32;@D��4@?� =@�BF6� =2DG@46D�AF656?�BF652C�E2A252D�A@C�@EC@D�:?DECF>6?E@D"2�5:76C6?4:2�6?EC6�F?�4@>AC6D@C�J�F?�=:>:E25@C�6DES�6?�6=�C25:@�56�4@>AC6D:Y?�BF6�6764EZ2?�D@3C6�=2�D6W2=2F5:@��J2�BF6�4@>Z?>6?E6�2>3@D�AC@46D25@C6D�6DES?�:?4@CA@C25@D�6?�F?�>:D>@�2A2C2E@�?� =2� 7:8FC2� � � A@56>@D� G6C� 4F2=6D� D@?� =@D� 4@?EC@=6D� 923:EF2=6D� BF6� :?4@CA@C2� F?� 4@>AC6D@C=:>:E25@C�

4@>AC@36>@D�A2C2�BF6�D:CG6?�F?@�2�F?@�

��%�&�$!�� 'F6� =:E6C2=>6?E6� D:8?:7:42=:?52C� @� =U>:E6�� >@G:6?5@� 6DE6� 4@?EC@=A@56>@D� 2;FDE2C� 6=� AF?E@� 5@?56� 6=4@>AC6D@C� 6>A:6K2� 2� 24EF2C� ):� =@>@G6>@D�924:2�=2�:KBF:6C52�6=�4@>AC6D@CD6� 24E:G2CS� 2Z?� 4@?� D6W2=6D� 2F5:@� >FJ5T3:=6D�� >:6?EC2D� BF6� 2=� 8:C2C=@� 924:2� =256C6492� 6=� 4@>AC6D@C� DY=@� 7F?4:@?2CS5FC2?E6� =@D� A:4@D� 56� D6W2=�

4@>AC:>:T?5@=@D��>:6?EC2D�BF6�?@�24EF2CS�A@C�5632;@�56=�?:G6=�:?5:425@��'�$���DE6�4@?EC@=�56E6C>:?2�=2�AC@A@C4:Y?�56�D6W2=�BF6�92J�6?�=2�D2=:52�56=�4@>AC6D@C�C6DA64E@�2�=2�D6W2=AC6D6?E6�2� =2�6?EC252��?� =@D� =:>:E25@C6D�6DE2�AC@A@C4:Y?�G2�56�����92DE2� ����@� :?7:?:E@���):�6=�4@?EC@=�56�����6DES�D:EF25@�6?������A@C�6;6>A=@��F?�:?4C6>6?E@�56���564:36=:@D�6?�=2�D6W2=�56�6?EC252��A@C�6?4:>2��56=F>3C2= 56�24EF24:Y?�56=�4@>AC6D@C��@�E9C6D9@=5��D:8?:7:42�@3E6?6C�F?�:?4C6>6?E@�56�DY=@���5��6?�=2�D6W2=�56D2=:52�''�� ���D�6=�E:6>A@�BF6�AC64:D2�6=�4@>AC6D@C�A2C2�24E:G2C�DFD�4:C4F:E@D��2�A2CE:C�56�BF6�56E64E2�2=8F?2�D6W2=BF6�D@3C6A2D2�DF�=:?52C�56�24EF24:Y?�&F656�6DE2C�6DA64:7:425@�4@>@��E:6>A@�56�2E2BF6���6?�>:=:D68F?5@D�@� 4@>@� G2=@C� 56� 2E2BF6� �6?� 5�� A@C� D68F?5@�� �DE@� 56A6?56� 56=� E:A@� 56� 4:C4F:E@D� 4@?� BF6� 4F6?E2� 4252F?:525�6?�4@?4C6E@��!��&�� �?5:42� 6=� E:6>A@� BF6� AC64:D2� 6=� 4@>AC6D@C� A2C2� 56;2C� � 56� 24EF2C�� F?2� G6K� BF6� =2� D6W2=� 9256D46?5:5@�A@C�5632;@�56=��E9C6D9@=5���E2>3:T?�D6�4@?@46�4@?�6=�?@>3C6�56�E:6>A@�56�C64FA6C24:Y?���#�� �D� F?� A@E6?4:Y>6EC@� BF6� 6DES� D:EF25@� A2C2� 2F>6?E2C� @� C65F4:C� 6=� ?:G6=� 56� D2=:52� 56=4@>AC6D@C=:>:E25@C��J�2DU�@3E6?6C�F?�?:G6=�56�D6W2=�AC64:D@�A2C2�?F6DEC2D�?646D:5256D

#F49@D�4@>AC6D@C6D�5:DA@?6?��256>SD��56�F?�4@?>FE25@C �������BF6�56D4@?64E2�=2D�7F?4:@?6D�?@C>2=6D56=� 2A2C2E@�� J� D:CG6� A2C2� 4@>A2C2C� =2� D6W2=� AC@46D252� 4@?� =2� BF6� ?@� =@� 6DES� �DE@� A6C>:E6� � ;FK82C2F5:E:G2>6?E6�D:�=2�D6W2=�AC@46D252�D6�2D6>6;2�@�6DES�5:DE@CD:@?252�C6DA64E@�2�=2�D6W2=�@C:8:?2=��6D�564:C�D:>FD:42=>6?E6�6D�GS=:52

"@D� =:>:E25@C6D�D@?�FE:=:K25@D�4@>Z?>6?E66?� EC232;@D� 56� AC@5F44:Y?� 56� C25:@� JE6=6G:D:Y?�� A2C2� AC6G6?:C� =2D@3C6>@5F=24:Y? 56� =2D� D6W2=6D� D@?@C2D6?� =2�6>:D:Y?�� =@�BF6�42FD2�F?2�5:DE@CD:Y?56� E@52� =2� D6W2=� A@CE25@C2� *2>3:T?� D@?FE:=:K25@D� 6?� >F49@D� D:DE6>2D� 562>A=:7:424:Y?�A2C2�AC@E686C�2� =@D�2=E2G@46D56� A@D:3=6D� A:4@D� 56� =2� D6W2=� D@?@C2�� BF6AF656?�56DECF:C�7UD:42>6?E6�=2D�3@3:?2D�56=@D�>:D>@D�F2?5@�6=�4@?EC@=�E9C6D9@=5�6DES�D:EF25@�6?DF�A@D:4:Y?�>U?:>2��=2�ACS4E:42�E@E2=:525�56=AC@8C2>2� >FD:42=� C6DF=E2� 2764E25@� A@C� =24@>AC6D:Y?� �F2?5@� D6� >2?6;2� 56� 6DE27@C>2�� =2� AC@A@C4:Y?� �@� C2E:@�� 56� =24@>AC6D:Y?�5636�D6C�32;2��6?EC6�������J�����D:�D6�56D62�@3E6?6C�F?�D@?:5@�?2EFC2=�?� =2� 7:8FC2� ��� D6� AF656?� @3D6CG2C8CS7:42>6?E6� =2D� 5@D� 7@C>2D� 56� 24EF24:Y?56� 6DE@D� AC@46D25@C6D�� =2� =U?62� AF?E62524@CC6DA@?56� 2� =2� 7@C>2� BF6� E@>2CU2� =2D6W2=� 2F5:@� @C:8:?2=� D:� 7F6C2� 4@>AC:>:52

4@?�F?2�AC@A@C4:Y?�56� ���56D56�6=�?:G6=���5���J�=2�=U?62�4@?E:?F2�56�=2�A2CE6�DFA6C:@C�4@CC6DA@?56�2�F?24@>AC6D:Y?�56������ BF6�D6� :?:4:2� 4F2?5@� =2� D6W2=� D@3C6A2D2�6=� =:?52C�56� =@D�����5�D��?�6=�AC:>6C� 42D@24EZ2�4@>@�F?�4@>AC6D@C��>:6?EC2D�BF6�6?�6=�D68F?5@�=@�9246�4@>@�F?�=:>:E25@C+?2� 4@>AC6D:Y?� DF2G6� 4@?� F?� F>3C2=� 56� 24EF24:Y?� C65F4:5@� AF656� D6C� 4@?G6?:6?E6� 6?� 2=8F?@D� 42D@D�>:6?EC2D�BF6�6?�@EC@D�D6CS�>6;@C�6=6G2C�6=�=:?52C�56�EC232;@�J�=2�AC@A@C4:Y?�56�=2�4@>AC6D:Y?��E@5@�56A6?5656=�E:A@�56�AC@8C2>2�>FD:42=�BF6�D6�6DET�>2?6;2?5@�J�56=�C6DF=E25@�ACS4E:4@�BF6�D6�BF:6C2�@3E6?6C

+*�"�0���Q$���"��%#&(�)%("�#�*��%(�?E6� E@5@�92J�BF6� C64@C52C�BF6� =@D�4@>AC6D@C6D��2DU�4@>@�6=� C6DE@�56�AC@46D25@C6D�56� =2�D6W2=�D@?@C2�DY=@�AF656?�EC232;2C�4@?�F?2�D6W2=�D:?�2>A=:7:42C�6?�A@E6?4:2��DE@�:>A=:42�BF6�F?2�G6K�=2�D6W2=�92�A2D25@A@C�F?�2>A=:7:425@C�J�D6�5:C:86�924:2�=@D�2=E2G@46D�?@�AF656�D6C�AC@46D252�&@C�6==@�4F2=BF:6C�E:A@�56�F?:525AC@46D25@C2� 5636� D:EF2CD6� 6?EC6� =2� >6D2� 56� >6K4=2D� J� =2D� 6E2A2D� 56� A@E6?4:2�� D2=G6525� 96492� 56� =2DF?:5256D�56DE:?252D�2�D6C�FE:=:K252D�6?EC6�F?�:?DECF>6?E@�>FD:42=�J�6=�AC6G:@�56=�>:D>@��4@>@�6D�6=�42D@�56=@D�2A2C2E@D�56�6764E@D�56�=2D�8F:E2CC2D�6=T4EC:42D$@�6I:DE6�F?�E:6>A@�56�2E2BF6�J�56�C64FA6C24:Y?�GS=:5@�A2C2�E@52D�=2D�D:EF24:@?6D�BF6�D6�AF652?�52C�+?2E2BF6�56>2D:25@�CSA:5@�AF656�42FD2C�6?�6=�AC@8C2>2�7=F4EF24:@?6D�56�?:G6=�J�5:DE@CD:@?2C��=2D�7C64F6?4:2D32;2D��>:6?EC2D�BF6�F?�E:6>A@�56�2E2BF6�56>2D:25@�=6?E@�A6C>:E6�BF6�2A2C6K42?�2�=2�D2=:52�56=�4@>AC6D@C?:G6=6D�56�D6W2=�>2J@C6D�BF6�=@D�56D625@D+?�E:6>A@�56�C64FA6C24:Y?�56>2D:25@�CSA:5@�AC@G@42�F?�D@?:5@�A2C64:5@�2�F?�;256@�@�2�F?�8@=A6�56�G:6?E@6?� 6=� AC@8C2>2�>FD:42=��>:6?EC2D� BF6� F?2� C64FA6C24:Y?�>FJ� =6?E2� 9246� BF6� 6=� 4@>AC6D@C� D:82� 24E:G25@4F2?5@� =2� D6W2=� 2F5:@� ?@� EC2DA2D2� 6=� F>3C2=�� 4@?� =@� BF6� 2=8F?2D� A@C4:@?6D� 56=� AC@8C2>2� >FD:42=� D@?C65F4:52D�6?�6I46D@��:8FC2����

�=8F?@D� >@56=@D� 56� 4@>AC6D@CE:6?6?� 6=� 2;FDE6� 2FE@>SE:4@� 56=E:6>A@� 56� 2E2BF6� J� C64FA6C24:Y?�D68Z?� =2�?2EFC2=6K2�56� =2� D6W2=�566?EC252�F2?5@� D6� FE:=:K2� F?� 4@>AC6D@C=:>:E25@C� A2C2� AC@E686C� 2� =@D2=E2G@46D� 56� D@3C642C82D�� 6=E9C6D9@=5 �E2>3:T?� 56?@>:?25@AF?E@�56�C@E24:Y?��5636�D:EF2CD6�56E2=� 7@C>2� BF6� =2� A@E6?4:2� >SI:>2BF6� 6?EC68F6?� =2D� 6E2A2D� 2� =@D2=E2G@46D�?@�6I4652�2=�>SI:>@�BF6TDE@D�AF656?�25>:E:C)FA@?:6?5@� BF6� E6?82>@D� F?@D2=E2G@46D� BF6� 25>:E6?� ��� H2E:@D4@?E:?F@D� J� ���� H2E:@D� 56� A:4@�� JBF6� =2� 6E2A2� AC@A@C4:@?2� ���H2E:@D� 4F2?5@� =2� D6W2=� 56� 6?EC2526DES� 2� F?� ?:G6=� 56� ��� 5�� J� 6=2E6?F25@C� 56� =2� 6E2A2� 6DES� 6? ���5�D�� 6DE@� D:8?:7:42CS� BF6� 4F2?5@F?2� D6W2=� 56� ���� 5�D� D622>A=:7:4252� A@C� =2� 6E2A2� D6@3E6?5CS?�����-�6?� =@D�2=E2G@46D�= ��������56=�4@>AC6D@C=:>:E25@CJ�6= �����5636?�D:EF2CD6�56�>2?6C2BF6� 6G:E6� BF6� =2� D6W2=� 6I4652� 56����5���D:6?5@�AC676C:3=6�4@=@42C�6=4@?EC@=�56=�F>3C2=�6?�F?�G2=@C�2=8@:?76C:@C�� ���� Y� ���� 5�� A2C2AC6D6CG2C� =2� 5:?S>:42� C62=� 56=AC@8C2>2�6�6DE2� 7@C>2�4F2=BF:6C�A:4@�56� =2

D6W2=�2F5:@�BF6�6I4652�6?�2=8F?@D�5��D@3C6�6=�?:G6=�>65:@�56=�AC@8C2>2��BF652CS�2764E25@�A@C�=2�24EF24:Y?56=� 4@>AC6D@C�� J� 2� =2� D2=:52� 56=� >:D>@� 6DE@D� A:4@D� � 6DE2CS?� C65F4:5@D� 2� F?@D� ?:G6=6D� :?@4F@D� A2C2� =@D2=E2G@46D�):�A@C�6;6>A=@��2A2C646�F?�A:4@�56��� �5�D�6?�=2�6?EC252��J�E6?6>@D�2D:8?25@�6?�6=�4@>AC6D@CF?2�C6=24:Y?�56�4@>AC6D:Y?�56������6DE6�A:4@�2�=2�D2=:52�:?4C6>6?E2CS�=2�D6W2=����5���D:�6=�=U>:E6�56�24EF24:Y?

6DES�6?�����5���6=�G2=@C� E@E2=�D6CS�56�����5��4@?� =@�4F2=� =@D�2=E2G@46D� EC232;2CS?�A=6?2>6?E6�D:?�BF6�6??:?8Z?�42D@�6I4652?�=@D�=U>:E6D�AC@AF6DE@D

�&"�����%$�)� &(��*���)��"��%#&(�)%("�#�*��%("2D� =U?62D� BF6� D:8F6?�AC6E6?56?D6CG:C� 4@>@� F?2� 8FU2� C6DF>:5256� =2D� 7@C>2D� 6?� BF6� D6� AF656FE:=:K2C� F?� 4@>AC6D@C� 4@?5:G6CD2D� 7F6?E6D� 56� D@?:5@�2F?BF6� D:?� @=G:52C� BF6� 4252

D:EF24:Y?�4@?4C6E2��6D�5:DE:?E2�56�@EC2��=@�BF6�D:8?:7:42�BF6�6DE@D�2AF?E6D�DY=@�D:CG6?�56�C676C6?4:2�J2�BF6�=2Z=E:>2�A2=23C2�DY=@�=2�E:6?6�6=��@U5@�56=�BF6�=@�>2?6;2�$��&��)6�DF6=6�6>A=62C�F?2�C6=24:Y?�C65F4:52��6?EC6� ���J�����4@>@�>SI:>@��>:6?EC2D�BF6�6=�E9C6D9@=5�D6D:EZ2�6?�F?�AF?E@�>SD�3:6?�32;@��2=C6565@C�56 ��5���6�6DE2�7@C>2�6=�D@?:5@�@3E6?:5@�6D�?2EFC2=�J�28C2523=6�2F?BF6�D6�EC2E6�56�42?E2?E6D�56�C@4<��=�E:6>A@�56�2E2BF6�AF656�D6C�>65:2?2>6?E6�CSA:5@��>:6?EC2D�BF6�6=56�C64FA6C24:Y?�AF656�6DE2C�2=C6565@C�56�>65:@�D68F?5@���$��!/�'%��$�&2C2� E6?6C�F?�4@?EC@=�AC64:D@�56� =@D�24@C56D�>SD�7F6CE6D�6D�4@?G6?:6?E6�EC232;2C�4@?�F?2C6=24:Y?�56�����@�>SD��2F?BF6�6==@�56A6?56�56�=2�7@C>2�56�E@42C�56=�32;:DE2��F2?5@�D6�E@42�8@=A62?5@�=2D4F6C52D��6=�U?5:46�56�4@>AC6D:Y?�6D�>2J@C�BF6�4F2?5@�D6�AF=D2?��=�E:6>A@�56�2E2BF6�5636�D:EF2CD6�6?�F?G2=@C�>65:@��>:6?EC2D�BF6�6=�56�C64FA6C24:Y?�AF656�D6C�=2C8@�4F2?5@�D6�AF=D2?�=2D�4F6C52D�4@?�DF2G:525��J>SD�CSA:5@�4F2?5@�D6�8@=A62?�(�'�%%���!/�'%����� "2�5:G6CD:525�56�D@?:5@D�BF6�D6�@3E:6?6?�4@?�6DE6� :?DECF>6?E@�?@�A6C>:E6�6DE23=646CF?2D�?@C>2D�4@>F?6D��DU�� D:� D6�56D62�@3E6?6C�F?�D@?:5@�D@DE6?:5@��92J�BF6�FD2C�F?� E:6>A@�56�2E2BF6CSA:5@�J�F?2�C64FA6C24:Y?�=6?E2��2=C6565@C�56�����>D��>:6?EC2D�BF6�6= ���� AF656�D:EF2CD6�2=C6565@C�56�����J� 6=� 4@?EC@=� 56� 82?2?4:2� A@C� 6?4:>2�56� ��5��):� D6� BF:6C6�6?72E:K2C�>SD� =@D�24@C56D��5636� C65F4:CD6�6=E:6>A@�56�C64FA6C24:Y?�F?�A@4@�J�FE:=:K2C�F?�2E2BF6�>SD�=6?E@�(�'�%%����2&'�����=�F>3C2=�5636�D:EF2CD6�6?�F?�AF?E@�>65:@��6?EC6 ��5��J�%�5���J�DF6=6�6>A=62CD6�F?C2E:@� C65F4:5@�� 6?EC6� ��� J� ���� �=� E:6>A@� 56� 2E2BF6� D6� D:EZ2� 6?EC6� ��� J� ��� >D� >:6?EC2D� BF6� 6=� 56C64FA6C24:Y?�AF656�6DE2C�6?EC6 =@D����>D�J�=@D� ���>D���!��$&� �!/�'%��$&�� #F49@D� E64=25@D� ?@� AC64:D2?� ?:?8Z?� E:A@� 56� 4@>AC6D:Y?�� A6C@� 6?� 2=8F?@D� 42D@D6>:E6?�F?@D�A:4@D�D@?@C@D�BF6�AF656?�D6C�42FD2�56�5:DE@CD:Y?�&2C2�6DE@D�42D@D�6=�4@>AC6D@C�6D�ZE:=�4@?�6=F>3C2=�>FJ�2=E@��56�7@C>2�BF6�DY=@�24EZ6�4F2?5@�D6�6?4F6?EC2�4@?�=@D�A:4@D�56�D6W2=��J�4@?�F?2�C6=24:Y?�56����2������%�(&�1#���F2?5@�D6�6;64FE2?�A:6K2D�56�>ZD:42�A@A�@�56� C@4<�� =2�5:?S>:42�ZE:=� 56� =@D� :?DECF>6?E@D�56A6C4FD:Y?�6D�>FJ�C65F4:52�&2C2�6DE@D�42D@D�6D�4@?G6?:6?E6�6=�FD@�56=�4@>AC6D@C�4@?�=@D�E2>3@C6D�56�=232E6CU2�� 4@?� F?2� C6=24:Y?� 6?EC6� ���� J� ����� F?� E:6>A@� 56� 2E2BF6� 2=C6565@C� 56� ��� >D�� J� F?� E:6>A@� 56C64FA6C24:Y?� 6?EC6� ��� J� ����>D� �=� AF?E@� 56� C@E24:Y? �E9C6D9@=5�� 5636� 6DE2C� 6?� F?� G2=@C� E2=� BF6�A6C>:E2EC232;2C�2=�4@>AC6D@C�5FC2?E6�E@5@�6=�8@=A6�D@?@C@��D:?�BF6�C64@CE6�=@D�AF?E@D�>6?@D�:?E6?D@D�56=�2E2BF6�@56� =2�42U52�$@�6D�4@?G6?:6?E6�6=�FD@�56�4@>AC6D@C6D�6?� =@D�A=2E@D�56�F?2�32E6CU2�@�6?� :?DECF>6?E@D�56A6C4FD:Y?�>6ES=:4@D��J2�BF6�D6�DF6=6�@3E6?6C�F?�D@?:5@�A@4@�?2EFC2=

�.��*��%(�)�=�:8F2=�BF6�=@D�64F2=:K25@C6D��=@D�6I4:E25@C6D��� � ������AF656?�D6C�FE:=:K25@D�A2C2�2=E6C2C�=2D�4F2=:5256DE@?2=6D�56�=2�D6W2=�2F5:@�&6C@�2�5:76C6?4:2�56=�64F2=:K25@C��F?�6I4:E25@C�AF656�4C62C�?F6G@D�2C>Y?:4@D�BF6

4@>A=6>6?E6?�2�=@D�BF6�J2�6I:DE6?�?� =F82C�56� C62=K2C�@� C64@CE2C�6=�?:G6=56� =@D� 2C>Y?:4@D� AC6D6?E6D� 6?� =2D6W2=� D@?@C2�� E2=� 4@>@� =@� 9246� 6=64F2=:K25@C�� 6=� 6I4:E25@C� FE:=:K2� A2CE656� =2D� 2=E2D� J� >65:2D� 7C64F6?4:2DAC6D6?E6D� 6?� =2� D6W2=� A2C2� 86?6C2C?F6G@D� 2C>Y?:4@D�� =@D� 4F2=6D� D62W256?�2�=2�D6W2=�@C:8:?2=���:8FC2�����@>@� C6DF=E25@� 56� 6DE6� AC@46D@�� D6:?4C6>6?E2� 6=� 3C:==@� J� =2� 4=2C:525� 56=D@?:5@�� J2� BF6� =@D� 2C>Y?:4@D� BF686?6C2� 6=� 6I4:E25@C� D@?� >Z=E:A=@D� 56=@D�BF6�J2�4@?E:6?6�=2�D6W2=�@C:8:?2=

"@D� 6I4:E25@C6D� D@?� FE:=:K25@D� A2C2� :?4C6>6?E2C� 6=� 4F6CA@� J� 6=� 3C:==@� 56� 5:G6CD@D� :?DECF>6?E@D�� E2?E@� 6?8C2324:@?6D�6?�6DEF5:@�4@>@�6?�D:DE6>2D�56�2>A=:7:424:Y?�6?�5:C64E@��?�4F2=BF:6C�42D@�4@?G:6?6�FE:=:K2C6DE6� AC@46D25@C� 4@?� 4:6CE2� >@56C24:Y?�� J2� BF6� F?� :?4C6>6?E@� 6I46D:G@� AF656� 52C� =F82C� 2� F?� D@?:5@2CE:7:4:@D@��6?�=F82C�56�6?C:BF646C�=2D�4F2=:5256D�?2EFC2=6D�56=�:?DECF>6?E@"2�A@D:4:Y?�46?EC2=�56=�7:=EC@�AF656�6D4@86CD6�6?EC6�=@D� �<�K�J�=@D���<�K��D68Z?�=@D�>@56=@D�):�D6�D:EZ2�6?�� <�K�� A@C� 6;6>A=@�� 6=� 6I4:E25@C� 86?6C2� 2C>Y?:4@D� 56��� <�K�� �� <�K�� � � <�K�� ��� <�K�� 6E4�� E@5@D�6==@D>Z=E:A=@D�56=�AC:>6C�G2=@C�=�6I4:E25@C�D6�FE:=:K2�6?�=2�AC@5F44:Y?�56�=2D�>6K4=2D�7:?2=6D�6?�6DEF5:@D�56�8C2324:Y?��A6C@�E2>3:T?�A2C2C62=K2C�=2D�4F2=:5256D�56�2=8F?@D�:?DECF>6?E@D�A@C�D6A2C25@�"@D�A=2E@D�56�=2�32E6CU2��=2D�8F:E2CC2D�24ZDE:42DJ� =2D� G@46D� D@?�2=8F?2D�56� =2D� 7F6?E6D� D@?@C2D�5@?56�6=�6I4:E25@C� D6�FE:=:K2�4@?�>SD� 7C64F6?4:2�� D:� 3:6?E2>3:T?�AF656�D6C�FD25@�A2C2�>6;@C2C� =2�4=2C:525�56�2=8F?@D�D:?E6E:K25@C6D�J�D2>A=6CD��=8F?@D� ET4?:4@DFE:=:K2?� =2D�G6?E2;2D�56=�6I4:E25@C�A2C2�C62=K2C�6=�42CS4E6C�56�2=8F?2�D644:Y?�6?�4@?4C6E@��4@>@�AF656�D6CF?2�D644:Y?�56�G:6?E@D�56?EC@�56�F?2�A:6K2�56�D2=D2�@?G:6?6�?@�@=G:52C�BF6��D:�6?� =2�D6W2=�>FD:42=� EC2E252�A@C�6=�6I4:E25@C�92J�AC6D6?E6�2=8Z?�CF:5@��6D�>FJA@D:3=6� BF6�6=� 6I4:E25@C� E2>3:T?� =@� C6D2=E6�&@C� 6DE@� 6D� 4@?G6?:6?E6� BF6� =2� D6W2=� 2� EC2E2C�6DET�6I6?E2�564F2=BF:6C�CF:5@�A2CSD:E@�@�KF>3:5@+?@�AF656�6DE2C�E6?E25@�56�FD2C�F?�6I4:E25@C�A2C2�=2�>6K4=2�E@E2=�56�E@5@D�=@D�:?DECF>6?E@D��DE@�AF656�D6CGS=:5@�A2C2�C6G:E2=:K2C�J�2W25:C�4=2C:525�2�2=8F?2D�8C2324:@?6D�2?E:8F2D��D:6>AC6�BF6�6=��:?6G:E23=6�CFU5@�567@?5@� AF652� D6C� 4@?EC@=25@�� A6C@� ?@� 6D� GS=:5@� A2C2� =2D� 8C2324:@?6D�24EF2=6D� @� A2C2� =@D� 5:C64E@D�� J2� BF6?F6DEC@D�@U5@D�D6�24@DEF>3C2?�4@?�C2A:56K�2=�T?72D:D�>FD:42=�BF6�AC@G@42�J�7:?2=>6?E6�?@�=@�A6C4:36?�6?23D@=FE@�=8F?@D�>@56=@D�56�6I4:E25@C� E:6?6? 4@?EC@=6D�BF6�A6C>:E6?�6D4@86C� D:� =2D� 7C64F6?4:2D�6I4:E252D�D@?� =2D2=E2D�@�=2D�32;2D��DE@D�>@56=@D�AF656?�D6C�ZE:=6D�4F2?5@�D6�3FD42�2F>6?E2C�=2�4=2C:525�J�=2�567:?:4:Y?�564:6CE@D�:?DECF>6?E@D��4@>@�6=�3@>3@�@�6=�8@=:2E�56�F?2�32E6CU2

&+�(*�)����(+��%�/��.&�$)%(�)"@D� CF:5@D� ?@� 56D625@D� 4@?DE:EFJ6?� F?� AC@3=6>2� 6?� E@5@� E:A@� 56� D:DE6>2D�>FD:42=6D�� E2?E@� 6?� C68:DEC@D4@>@�6?�D@?@C:K24:@?6D�6?�G:G@�F2?5@�F?�CF:5@�D6�2W256�2�=2�D6W2=�D@?@C2�BF6�86?6C2�F?�:?DECF>6?E@��D6�9246�>FJ�5:7U4:=�56�6=:>:?2C�4@?A@DE6C:@C:525� �FC2?E6� =@D� A6CU@5@D� 6?� BF6� 6=� :?DECF>6?E@� ?@� DF6?2�� 6=�>:4CY7@?@� AF656� 42AE2C� 5:G6CD2D7F6?E6D�D@?@C2D�56�A@42�:?E6?D:525��A6C@�BF6�DF>252D�4F2?5@�D6�6764EZ2�=2�>6K4=2�6?�=2�>6D2��6?DF4:2?�=24=2C:525�56=�>6?D2;6�>FD:42=��DE@�DF4656�4F2?5@�E6?6>@D�G2C:@D�>:4CY7@?@D�23:6CE@D�D@3C6�F?�6D46?2C:@�JDY=@� F?� >ZD:4@� 6DES� E@42?5@�� E@5@� E:A@� 56� CF:5@D �A:D252D�� A2=>2D� 56=� AZ3=:4@�� 6E4�� 6?EC2?� A@C� =@D>:4CY7@?@D�>:6?EC2D�?@�D@?�FD25@D��J�D6�2W256?�2�=2�D6W2=�56=�Z?:4@�>:4C@�BF6�42AE2�>ZD:42�DE@D�CF:5@D�E2>3:T?�D6�9246?�6G:56?E6D�5FC2?E6�=2D�4@CE2D�A2FD2D�BF6�AF652�9236C�6?EC6�=@D�4@>A2D6D�56F?2�A:6K2��J�E2>3:T?�4F2?5@�D6�6DES�D@?@C:K2?5@�F?2�7@C>24:Y?�4@?�4@>A@?6?E6D�3SD:42>6?E6�24ZDE:4@D&2C2�C6D@=G6C�6DE@D�AC@3=6>2D�6I:DE6?�=@D�AC@46D25@C6D�56?@>:?25@D�AF6CE2D�56�CF:5@��?@:D6�82E6D���DE@D

AC@46D25@C6D� 5:DA@?6?�4@>@� =@D� 4@>AC6D@C6D�56� F?� F>3C2=� 5624EF24:Y?� @� E9C6D9@=5�A6C@�BF6�24EZ2�56�7@C>2:?G6CD2� 2� 4@>@� =@� 92464@?� F?� 4@>AC6D@C� �=E9C6D9@=5� 6?�F?2�AF6CE256�CF:5@�=:>:E2�6=�?:G6=�56F?2� D6W2=�� J� A@C� 5632;@56�6DE6�?:G6=�?@�A6C>:E66=� A2D@� 56� ?:?8Z?D@?:5@� AC@4656?E6� 56=>:4C@� �F2?5@� =2� D6W2=DFA6C2� 6=� ?:G6=�AC67:;25@�E9C6D9@=5�� =@D� 4:C4F:E@D56�=2�AF6CE2�56�CF:5@�D6

23C6?�A2C2�56;2C�GU2�=:3C6�2�=2�D6W2=�2F5:@��6�6DE2�7@C>2�=@D�D@?:5@D�56�32;2�:?E6?D:525�BF6�AF652�42AE2C�6=>:4CY7@?@ �J�BF6�DF6=6?�4@CC6DA@?56C�2�7F6?E6D�6IE6C?2D��?@�==682?�2�=2�>6D2�56�>6K4=2D��>:6?EC2D�BF6�6=D@?:5@�56=�:?DECF>6?E@�@�G@K�BF6�5632�42AE2C�6=�>:4C@�D:�BF6�==682�2=�D:DE6>2�56�2>A=:7:424:Y?

�?�=2�7:8FC2����D6�>F6DEC2�4@>@�24EZ2�6=�4@?EC@=�E9C6D9@=5�D@3C6�=2�D6W2=�>FD:42=��F2?5@�6=�?:G6=�56�TDE2DFA6C2� =@D ���� 5�� =2� AF6CE2� 56� CF:5@� D6� 23C6� A2C2� 56;2C� A2D@� 2� =2� D6W2=�� A6C@� 4F2?5@� 6=� ?:G6=� D@?@C@56D4:6?56�A@C�5632;@�56�6DE6�G2=@C�=2�AF6CE2�D6�4:6CC2��:>A:5:6?5@�6=�A2D@�2�D@?:5@�2=8F?@�D�>FJ�:>A@CE2?E6�D236C�56E6C>:?2C�4@?�AC64:D:Y?�6=�F>3C2=�56�24EF24:Y?�56�F?2�AF6CE2�56�CF:5@��BF6�6DET;FDE@�6?4:>2�56�=@D�D@?:5@D�A2CSD:E@D�@�?@�56D625@D��A6C@�BF6�?@�D@3C6A2D6�6=�?:G6=�D@?@C@�56=�:?DECF>6?E@2� D@?@C:K2C�� 2Z?� 6?� =@D� A2D2;6D�>SD� EC2?BF:=@D� "@D� :?DECF>6?E@D� 56� A6C4FD:Y?� D@?� =@D�>SD� D6?4:==@D� 56AC@46D2C��563:5@�2�DF�3C6G6525�J�2�DF�42U52�CSA:52��>:6?EC2D�BF6�=@D� :?DECF>6?E@D�BF6�6>:E2?�?@E2D�>FJD@DE6?:52D�J�4@?�42U52D�>FJ�=6?E2D�D@?�=@D�>SD�5:7U4:=6D�F2?5@�D6�AC@46D2�2�EC2GTD�56�F?2�AF6CE2�56�CF:5@�F?�D@?:5@�56�?2EFC2=6K2�5:D4@?E:?F2��6?�=@�BF6�D6�C67:6C62� DF� :?E6?D:525�� 6I:DE6�6=� A6=:8C@�56�BF6�D6�AC@5FK42�6=� ==2>252�6764E@�56�9:DETC6D:D��?� =2� 7:8FC2���2�D6>F6DEC2� 8CS7:42>6?E6� 4@>@� DF4656�� �FC2?E6� F?� 4@CE@� =2AD@� 56� E:6>A@� 6=� ?:G6=� 56� =2� D6W2=� 2EC2G:6D2C6A6E:52D�G646D�6=�F>3C2=�56�24EF24:Y?�56�=2�AF6CE2��J�TDE2�D6�4:6CC2�J�D6�23C6�2=E6C?2E:G2>6?E6��DE6�6764E@C6DF=E2�>FD:42=>6?E6�?672DE@

&2C2� C6D@=G6C�6DE6�AC@3=6>2�6I:DE6?�G2C:@D�>@56=@D�56�AF6CE2D�56� CF:5@�BF6�5:DA@?6?�56�5@D�A@D:4:@?6D5:DE:?E2D� 56� E9C6D9@=5�� F?2�A2C2� 23C:C� =2� AF6CE2� 4F2?5@� =2� D6W2=� DFA6C2� 6=� =U>:E6� J� @EC2� �A@C� � 5632;@� 56� =2AC:>6C2�� BF6� 4:6CC2� =2� AF6CE2� 4F2?5@� =2� D6W2=� 56D4:6?56� 56=� AF?E@� AC67:;25@� �?� =2� 7:8FC2� ��3� D6� AF656@3D6CG2C�4Y>@�EC232;2?�6DE@D�AC@46D25@C6D�4@?�5@D�?:G6=6D�56�E9C6D9@=5�252�5U2�BF6�A2D2�6D�>SD�7C64F6?E6�6?4@?EC2CD6�4@?�AF6CE2D�56�CF:5@�4FJ2�7@C>2�56�EC232;2C�6D�:?G6CD2�2�=256� =@D�4@>AC6D@C6D��6D�564:C�BF6�4F2?5@� =2�D6W2=�426�5632;@�56=�F>3C2=�6764EZ2?�F?2� �4@>AC6D:Y?�56� =2>:D>2�� 6?� =F82C� 56� 2?F=2C=2� )6� EC2E2� 56� =@D� 4:C4F:E@D� 6IA2?D@C6D�� @� �6IA2?56CD��� BF6� DF6=6?� 6DE2C4@?E6?:5@D�6?�6=�>:D>@�4F6CA@�56� =2D�AF6CE2D�56� CF:5@��=�?:G6=�56�C65F44:Y?�BF6�2A=:42?� =@D�6IA2?D@C6DAF656 D6C�6D4@8:5@�>65:2?E6�F?�4@?EC@=�56��C2E:@���DU�A@C�6;6>A=@�4@?�F?2�C6=24:Y?�56������4F2?5@�=2�D6W2=2F5:@� 426�A@C� 5632;@� 56=�F>3C2=�56�24EF24:Y?�� D6CS�2E6?F252�56� 7@C>2�BF6�A@C� 4252�5��56�42U52�6?� =2D6W2=�56�6?EC252�D6�@3E:6?6�F?�564C64:>:6?E@�56���5� 6?�=2�D2=:52�=� D@?:5@� @3E6?:5@� FE:=:K2?5@� F?� 6IA2?D@C� 24@DEF>3C2� 2� C6DF=E2C�>SD�>FD:42=� BF6� 6=� BF6� D6� 4@?D:8F6� 2=

FE:=:K2C� 6=� 4:C4F:E@� D:>A=6� 56� =2� AF6CE2�� J2� BF6� 4@?� 6DE2� 7F?4:Y?� =2� C65F44:Y?� D6� 6764EZ2� D:?� � 2764E2C� 2� =@DD@?:5@D�D@DE6?:5@D��?�=2�7:8FC2����D6�>F6DEC2�F?�8CS7:4@�56�4Y>@�EC232;2�F?�4:C4F:E@�6IA2?D@C

�&"�����%$�)����&+�(*�)����(+��%�/��.&�$)%(�)�6�E@5@D�=@D�AC@46D25@C6D�56�=2�D6W2=�2F5:@��=2D�AF6CE2D�56�CF:5@�D@?�=2D�BF6�D6�FE:=:K2?�2�>6?F5@�56�F?27@C>2�>6?@D�2564F252�):�6=�F>3C2=�?@�6DES�3:6?�D:EF25@�@�D:�6=� E:6>A@�56�42U52�6D�56>2D:25@�4@CE@��6=D@?:5@�A2D2�A@C� =2�AF6CE2�BF6�4:6CC2�J�23C6�6=�42>:?@�2� =2�D6W2=�56�F?2�7@C>2�:?2564F252��AC@G@42?5@�6=>:D>@�6764E@�BF6�92CU2�F?2�4@?6I:Y?�>2=�D@=5252"2�7@C>2�4@CC64E2�A2C2�FE:=:K2C�F?2 AF6CE2�56�CF:5@�4@?D:DE6�6?�D:EF2C�6=�E9C6D9@=5�E2?�32;@�4@>@�D62�A@D:3=6�J�4@?�6=�E:6>A@�56�2E2BF6�J�C64FA6C24:Y?�AF6DE@D�56�>2?6C2�BF6�6=�D@?:5@�AC@46D25@�?@�D62�2764E25@�567@C>2� 2F5:3=6� &@C� =@� 86?6C2=� 6=� E:6>A@� 56� 2E2BF6� 5636� D6C� =@�>SD� CSA:5@� A@D:3=6�� D:?� BF6� 42FD6� �4=:4D�2F5:3=6D��>:6?EC2D�BF6�=2�C64FA6C24:Y?�56A6?56�56=�:?DECF>6?E@�6?�4@?4C6E@�BF6�D6�AC@46D6*C232;2C� 6?� F?2� AF6CE2� 4@?� 6IA2?D@C� 52� F?�>2J@C�>2C86?� 6?� =@� C676C6?E6� 2� =2� D:EF24:Y?� 56=� F>3C2=� 56EC232;@��6D�564:C��A6C>:E6�BF6�6=�E9C6D9@=5�?@�6DET�6?�6=�AF?E@�YAE:>@�D:?�BF6�=2�?:E:56K�56�=2�D6W2=�56�D2=:52D6�G62�E2?�2764E252��DE2�6D�=2�AC:?4:A2=�5:76C6?4:2�ACS4E:42�6?EC6�FE:=:K2C�F?2�AF6CE2�56�CF:5@�4@?G6?4:@?2=�@F?2�AF6CE2�4@?�F?:525�6IA2?D@C2�F2?5@�D6�EC232;2�4@?�G2C:2D�6?EC252D�56�D6W2=��=2D�AF6CE2D�56�CF:5@�2?F=2?�E6>A@C2=>6?E6�=2D�D6W2=6D�56=@D� >:4C@D� >:6?EC2D� ?@� D@?� FE:=:K25@D� �D� 4@>@� D:� 6=� ET4?:4@� 56� =2� >6D2� 6DEFG:6C2� 4@?64E2?5@� J56D4@?64E2?5@�=@D�3@E@?6D��>FE6��56�=@D�42?2=6D��4@?7@C>6�=@D�>ZD:4@D�E6C>:?2?�56�E@42C�@�4@>:6?K2?�29246C=@�@>@�FE:=:K2C�F?2�AF6CE2�A2C2�4252�42?2=�56�=2�>6D2�6D�32DE2?E6�42C@��4@?G:6?6�6D4@86C�4F:525@D2>6?E64FS=6D�D@?� =@D�BF6�>6C646?�D6C�AC@46D25@D�"2D�AF6CE2D�56� CF:5@�D6�2A=:42?�4@?�>2J@C� 7C64F6?4:2�2� =2DG@46D��A6C4FD:@?6D��8F:E2CC2D�6=T4EC:42D��J�2�2=8F?@D�D:?E6E:K25@C6D�$��&�� &2C2�AC@46D2C� =2D�A2CE6D�G@42=6D�D6�FD2?��923:EF2=>6?E6�� E:6>A@D�56�2E2BF6�4@CE@D�J� E:6>A@D�56C64FA6C24:Y?�=2C8@D��D:�3:6?�6DE@�56A6?56�56�=2�ET4?:42�BF6�FE:=:46�4252�42?E2?E6�+?�E:6>A@�56�2E2BF6�BF66DET� 6?EC6� F?@� J� 5:6K� >:=:D68F?5@D� DF6=6� 52C� 3F6?� C6DF=E25@� �=� E:6>A@� 56� C64FA6C24:Y?� �C6=62D6�� =2C8@C65F46�6=�C:6D8@�56�BF6�=2�D6W2=�D6�4@CE6�4F2?5@�6=�42?E2?E6�6DES�E6C>:?2?5@�F?2�7C2D6):�D6�56D62�FE:=:K2C�F?�4@>AC6D@C�J�F?2�AF6CE2�56�CF:5@�A2C2�F?2�G@K��D6CS�AC676C:3=6�BF6�=2�AF6CE2�D6�D:EZ62?E6D�BF6�6=�4@>AC6D@C��J2�BF6�56� =@�4@?EC2C:@� =2�5:?S>:42�C65F4:52�BF6�6?EC682�6=�4@>AC6D@C�2�=2�AF6CE25:7:4F=E2�6=�A@56C�6?4@?EC2C�F?�?:G6=�56�E9C6D9@=5�4@CC64E@��%�(&�$#�&���=�FD@�56�=2D�AF6CE2D�4@?�=@D�:?DECF>6?E@D 56�A6C4FD:Y?�6D�F?@�56�=@D�>SD�4@CC:6?E6D�$@�DY=@D6�FE:=:K2?�A2C2�@3E6?6C�F?2�D6W21�>SD�=:>A:2��D:?@�E2>3:T?�A2C2�>@5:7:42C�6=�E:6>A@�56�42U52��24@CES?5@=@"@D� EC2?D:E@C:@D�BF6� 7@C>2?�6=� D@?:5@�56� =2D�A6C4FD:@?6D� C6BF:6C6?�F?@D� E:6>A@D�56�2E2BF6�>FJ� CSA:5@D�>:6?EC2D�BF6�6=�E:6>A@�56�C64FA6C24:Y?�5636�D6C�42=4F=25@�2�@?52D��D68Z?�4252�42D@��?�=2�ACS4E:42�6DE6E:6>A@�6D�6=�>:D>@�BF6�A2C2�6=��9@=5�E:>6���6=�A6CU@5@�5FC2?E6�6=�4FS=�=2�AF6CE2�A6C>2?646�23:6CE2�F?2�G6KBF6�=2�D6W2=�92�42U5@�A@C�5632;@�56=�E9C6D9@=5+?�AC@3=6>2�>FJ�4@>Z?�4F2?5@�D6�FE:=:K2�>SD�56�F?2�AF6CE2�A2C2�=@D�E2>3@C6D�56�F?2�>:D>2�32E6CU2��6DBF6� =2� AF6CE2� 56=� 8@=:2E �A@C� 6;6>A=@�� D6� 23C2� 4F2?5@� D6� 8@=A62� 6=� E:>32=� BF6� 92J� 2=� =25@�� � 563:5@� 2� =2AC@I:>:525�BF6�92J�6?EC6�6DE@D�:?DECF>6?E@D�&2C2�D@=G6?E2C=@�D6�C64FCC6�2�F?�>:4C@�56�4@?E24E@�A6825@�2=4F6CA@�56=�E2>3@C��J�DF�D6W2=�D6�6?GU2�6?�A2C2=6=@�924:2�=2�6?EC252��6IE6C?2=�<6J��56=�AC@46D25@C��F2?5@�6=>ZD:4@�8@=A62�6=�E2>3@C�@A@CEF?@��6=�>:4C@�56�4@?E24E@�6?GU2�=2�D6W2=�BF6�23C6�=2�AF6CE2��A6C>:E:6?5@�BF6�=2D6W2=�>FD:42=�AC@G6?:6?E6�56=�>:4CY7@?@�56�2>3:6?E6� =2�2EC2G:6D6��F2?5@�6=�>ZD:4@�8@=A62�@EC@� E2>3@C�2F?BF6�6DET�>FJ�ACYI:>@�2=�AC:>6C@��6=�>:4C@�56�4@?E24E@�?@�=@�C68:DEC2��A6C>2?64:6?5@�=2�AF6CE2�46CC252�(�'�%%�&� �!/�'%���&�� "@D� CF:5@D� A2CSD:E@D� D@?� 32DE2?E6� 4@>F?6D� 6?� =2D� E@>2D� 56� 8F:E2CC2� 6=T4EC:42�� 6?6DA64:2=� 4@?� 2=8F?@D� >@56=@D� 32D25@D� 6?� 4236K2=6D� �@� A2DE:==2D�� 56� 3@3:?2� D:>A=6�� 563:5@� 2� =2D:?E6C76C6?4:2D�56�@C:86?�>28?TE:4@�AC6D6?E6D�6?�F?�6D46?2C:@�%EC2�A@D:3=6�7F6?E6�56�CF:5@D�D@?�=@D�A652=6D56� 6764E@D� BF6� AF652� FD2C� 6=� 8F:E2CC:DE2�� BF6� AF656?� 4C62C� F?� :?4C6>6?E@� ?@E23=6� 56� =2� D6W2=�� J� 6?4@?D64F6?4:2�56�=@D�CF:5@D�BF6�=2�24@>A2W2?�D� 4@?G6?:6?E6� D:EF2C� 6=� F>3C2=� 56� 24EF24:Y?� >SD� 3:6?� 2=E@�� >:6?EC2D� BF6� =@D� E:6>A@D� 56� 2E2BF6� JC64FA6C24:Y?�56A6?56?�56=� 6DE:=@� 4@?�BF6� D6� E@BF6��=� E:6>A@�56�2E2BF6�DF6=6�D:EF2CD6�>SD�3:6?� CSA:5@�>:6?EC2D�BF6�6=�56�C64FA6C24:Y?�@D4:=2�6?EC6�=@D����Y����>:=:D68F?5@D��A2C2�F?�DE2442E@��J�>65:@�D68F?5@�@>SD�A2C2�=@D�EC@K@D�DF2G6D���!��$&� �?�AC:?4:A:@� =2�>2J@CU2�56� E64=25@D�6=64ECY?:4@D�?@�AC64:D2?�56=�2FI:=:@�56�F?2�AF6CE2�56�CF:5@A2C2�D@?2C�3:6?��?@�@3DE2?E6�2=8F?@D�>@56=@D�56�D:?E6E:K25@C6D�5:8:E2=6D�AC@5F46?�F?@D�CF:5@D�BF6��2=�D6C2>A=:7:425@D��D6�9246?�6G:56?E6D�&2C2�D@=G6?E2C=@D�6D�AC676C:3=6�FD2C�AF6CE2D�4@?�6IA2?D@C��J�D:EF2C�6=�?:G6=56� E9C6D9@=5�32DE2?E6�32;@��=� E:6>A@�56�2E2BF6�D6CS� =@�>SD� CSA:5@�A@D:3=6��>:6?EC2D�?@�86?6C6�6=� �4=:4<�2F5:3=6�BF6�2A2C646�4F2?5@�=2�AF6CE2�D6�23C6��6=�E:6>A@�56�42U52�E2>3:T?�5636�D6C�CSA:5@��4F:52?5@�56�BF6?@�4@CE6�=@D�24@C56D�563:5@�2�DF�24EF24:Y?

+$�����)����(�,�(��(���Q$�?� 6=� 42AUEF=@� 565:425@� 2� =2� �4ZDE:42� D6� 4@>6?E2� 6?� BF6� 4@?D:DE6� =2� C6G6C36C24:Y?� D@?@C2�� J� E@5@D� =@DA2CS>6EC@D� BF6� 4@?G:6?6� E6?6C� 6?� 4F6?E2� D@3C6� 6DE6� 76?Y>6?@ ?2EFC2=� �?� =2� 7:8FC2� �� D6� AF656� G6C� =2C6AC6D6?E24:Y?� 56� F?� 8@=A6� 56� A6C4FD:Y?� �=2� =U?62� >SD� 8CF6D2�� J� 56� 4@>@� 56DAFTD� 56� F?2D� AC:>6C2DC67=6I:@?6D �56�2=E2� :?E6?D:525�A6C@�A@4@�23F?52?E6D��2A2C646�6=�D@?:5@�C6G6C36C25@��>6?@D� :?E6?D@�A6C@>SD�56?D@�J�5FC256C@

�FC2?E6�>F49@�E:6>A@�=@D�6DA64:2=:DE2D92?�6DE25@�3FD42?5@�=@D�>SD�5:G6CD@DD:DE6>2D� A2C2� AC@G@42C� =2C6G6C36C24:Y?� 56� 7@C>2� 2CE:7:4:2=�� E2?E@6?�=@D�6DEF5:@D�4@>@�6?�=@D�6D46?2C:@D�=� AC:?4:A:@� D6� EC2E232� 56� @3E6?6C� 6DE66764E@� >65:2?E6� 923:E24:@?6D� 2:D=252D�D:DE6>2D� 56� >F6==6D� J� A=242D�� E@5@D6==@D� E6?U2?� 6?� 4@>Z?� BF6� AC64:D232?56� F?� 4@?D:56C23=6� 6DA24:@� A2C2� DF7F?4:Y?��D:6?5@�:>A@D:3=6�56�@3E6?6C�6?=@D�5:C64E@D��>65:25@D�56�=@D�2W@D����2A2C64:6C@?=2D�AC:>6C2D�F?:5256D�56�C6G6C36C24:Y?5:8:E2=��BF6�2�A6D2C�56�DF�6=6G25@�4@DE6D:>A=:7:42C@?�6=�AC@46D@�56�@3E6?6C�6DE6

6764E@� �4EF2=>6?E6� =2D� F?:5256D� 56� C6G6C36C24:Y?� 5:8:E2=� E:6?6?� F?� AC64:@� >SD� 2D6BF:3=6� J� F?2DAC6DE24:@?6D� 4@?D:56C23=6D�� J2� BF6 A6C>:E6?� F?� 4@?EC@=� 56� E@5@D� =@D� A2CS>6EC@D� AC6D6?E6D� 6?� =2C6G6C36C24:Y?��4@D2�BF6�?@�6C2�A@D:3=6�4@?�=@D�2?E:8F@D�D:DE6>2D$@� @3DE2?E6�� D68Z?�>F49@D� ET4?:4@D� A6C7644:@?:DE2D�� 6=� C6DF=E25@� 56� EC232;2C� 4@?� D:DE6>2D� BF6� 86?6C2?C6G6C36C24:Y?�56�F?2�7@C>2 2?2=Y8:42�6D� =2�@3E6?4:Y?�56�F?�D@?:5@�>SD�?2EFC2=�J�C62=�BF6�D:�D6�9246�4@?F?:5256D� 5:8:E2=6D� �?� C62=:525� D6� AC64:D2� C64C62C� 6?EC6� ����� J� ����� 64@D� D6A2C25@D� A@C� 7C244:@?6D� 56D68F?5@�A2C2�@3E6?6C�=2�:=FD:Y?�56�F?2�C6G6C36C24:Y?�?2EFC2=��J�6=�6DA24:@�56�E:6>A@�6?EC6�6DE@D�64@D�56366DE2C� 4F:525@D2>6?E6� 6D4@8:5@�� J2� BF6� 56� =@� 4@?EC2C:@� DF� 2F5:4:Y?� 56?@E2� A@42� ?2EFC2=:525� *2?� DY=@� 6=56D2CC@==@� :>AC6D:@?2?E6� BF6� 92� E6?:5@� =2� E64?@=@8U2� 56� =@D� >:4C@AC@46D25@C6D� 92� A6C>:E:5@� BF6� 9@J

5:DA@?82>@D�� 2� F?AC64:@� C2K@?23=6�� 56F?@D�AC@46D25@C6D�>FJZE:=6D�A2C2�=2�4C62E:G:525>FD:42=

)�)*�#�)� ��(�,�(��(���Q$

�$�"Q����"2D� 4S>2C2D

C6G6C36C25@C2D4@?D:DE6?� 6?� F?@DC64:?E@D� 46CC25@D� BF66DES?� 4@?DECF:5@D� 4@?A2C656D� 2=E2>6?E6C67=64E2?E6D� �?� DF:?E6C:@C� D6� 4@=@42?� F?@@�G2C:@D�2=E2G@46D�6?�F?=25@�� J� F?@� @� 5@D>:4CY7@?@D� 6?� 6=� =25@@AF6DE@"2� 42AE24:Y?� 56� =@D>:4C@D� 5636� D6C@>?:5:C644:@?2=�� J2� BF6=@� BF6� D6� :?E6?E2� ?@� 6D42AE2C� 6=� D@?:5@� 5:C64E@BF6� AC@G6?82� 56=D:DE6>2� 56� 2=E2G@46D�

D:?@�=2D�>Z=E:A=6D�C67=6I:@?6D�BF6�D6�@C:8:?6?�6?�6=�:?E6C:@C�56=�C64:?E@

"2� D6W2=� 2� =2� BF6� D6� BF:6C6� 2W25:CC6G6C36C24:Y?� 6D� 6?G:252� 56D56� =2>6D2 2� F?� 2>A=:7:425@C�� BF6� 6DES4@?64E25@� 4@?� 6=� D:DE6>2� 562=E2G@46D��=@D�>:4CY7@?@D�56=�:?E6C:@C56�=2�4S>2C2�C64@86?�6=�D@?:5@�4@?E@52D�DFD�C67=6I:@?6D��J�=@�6?GU2?�56?F6G@� 924:2� =2D� 6?EC252D� 56� 42?2=56� =2�>6D2�� J2� D62�GU2� C6E@C?@D�5664@� @� GU2� C6E@C?@� 2FI:=:2C� "2>2J@CU2�56�6DE2D�4S>2C2D�E:6?6?�F?E:6>A@�56�C6G6C36C24:Y?�7:;@��J�?@�6DA@D:3=6�>@5:7:42C=@��A6C@�E:6?6?�2�DF72G@C� =2 2=E2� 42=:525� 56=� D@?:5@� BF6D6�@3E:6?6�?� =2� 7:8FC2� �� A@56>@D� @3D6CG2CEC6D� >F6DEC2D� 56� 6DE6� E:A@� 564S>2C2D� �?� �2�� D6� FE:=:K2� F?�>:4C@4@?�F?2�42AE24:Y?�6?�7@C>2�56����=@4F2=� D:CG6� A2C2� C65F4:C� 6=� D@?:5@5:C64E@�BF6�AC@G:6?6 56=�2=E2G@K��?�3�� D6� 92� 4@=@425@� F?� D:DE6>2� 562=E2G@46D� @>?:5:C644:@?2=6D� J� 5@D>:4CY7@?@D� 2� 5:DE:?E2� 5:DE2?4:2� 56

TDE@D�� 4@?� E2=� 56� 2F>6?E2C� =2D� C67=6I:@?6D42AE252D��:?2=>6?E6�6?��4��D6�EC2E2�56�4@?D68F:CF?2� :>286?� 6DETC6@� 56� =2� D6W2=� C6G6C36C252�A2C2� 6==@� D6� 4@=@42�6=� E23:BF6�5:G:D@C:@� 6?EC6� =@D5@D� 4@?;F?E@D� 2=E2G@K>:4C@� �236� C6D2=E2C� BF6�6?�E@5@D�=@D�42D@D��=2�7@C>2�56�6DE2D�4S>2C2D�?@6D�C68F=2C��6D�564:C�BF6�D6�4@?DECFJ6?�6G:E2?5@�=26I:DE6?4:2� 56� DFA6C7:4:6D� E@E2=>6?E6� A2C2=6=2D�A2C2� :>A65:C� =2�7@C>24:Y?�56�@?52D�4@?�42CS4E6C6DE24:@?2C:@%EC@� D:DE6>2� A2C2� @3E6?6C� C6G6C36C24:Y?� 567@C>2�?2EFC2=�6D�>65:2?E6�F?@�@�G2C:@D�>F6==6D��:8FC2� �� "2� D6W2=� 2>A=:7:4252� ==682�2=�2=E2G@KBF6�6DES�F?:5@�2=�>F6==6��J�BF6�DF6=6�D6C�56�E:A@A:6K@6=T4EC:4@��6DE2�D6W2=�4@?G6CE:52�6?�G:3C24:Y?G2�52?5@�GF6=E2D�A@C� E@5@�6=�>F6==6�92DE2� ==682C2=�EC2?D5F4E@C�>:4C@7Y?:4@�56�4@?E24E@�BF6�92J�6?6=�=25@�@AF6DE@��J�BF6�6D�5:C:8:52�56�?F6G@�924:2=2�>6D2��GU2�C6E@C?@�56�64@

�2J�>Z=E:A=6D�5:D6W@D�56�6DE6�E:A@�56�>F6==6D�56C6G6C36C24:Y?�� J� D68Z?� =2� E6?D:Y?�>64S?:42� BF6D6� =6D� 2A=:BF6� G2CU2� 6=� E:6>A@� 56� C6G6C36C24:Y?BF6� D6� @3E:6?6� %7C646?� F?� D@?:5@C2K@?23=6>6?E6� 4@CC64E@� 2� F?� AC64:@� 2D6BF:3=6�92DE2� 6=� AF?E@� BF6� 2=8F?@D� 723C:42?E6D� 564@>3@D� A2C2� 8F:E2CC2D� 6=T4EC:42D� =@� :?4=FJ6?56?EC@� 56� DFD� >@56=@D� &6C@� 86?6C2=>6?E6E:6?6?� F?2� C6DAF6DE2� A@3C6� 2� =2D� 2=E2D7C64F6?4:2D� J� 2� =@D� D@?:5@D� EC2?D:E@C:@D�� A@C� =@BF6�DF�FD@�6?�D:DE6>2D�56�D@?:5@�5:C64E@�56�2=E242=:525�6D�A@4@�4@>Z?"2D� A=242D� A2C2� C6G6C36C24:Y?� D6� 32D2?� 6?� 6=>:D>@� AC:?4:A:@� 56� =@D� >F6==6D�� @� D62� 6?� =2EC2?D>:D:Y?� 56� =2D� G:3C24:@?6D� D@?@C2D� A@C� F?>65:@� DY=:5@� )6� EC2E2� 56� F?2� A=242� >6ES=:42DFDA6?5:52�� D@3C6� 4FJ2� DFA6C7:4:6� D6� D:EZ2� 6=

>@E@C�56�F?�2=E2G@K��BF6�2=�D6C�24E:G25@�EC2?D>:E6�=2D�G:3C24:@?6D�D@?@C2D�A@C�E@52�=2�DFA6C7:4:6�56�=2�A=242�@D� >:4C@D� A:6K@6=T4EC:4@D� D@?� D:EF25@D� 2� 5:DE:?E2� 5:DE2?4:2� 56=� 2=E2G@K�� J� D@?� =@D� BF6� D6� 6?42C82?� 56C64@86C�=2D�G:3C24:@?6D�56�=2�A=242�J�6?G:2C=2D�924:2�6=�42?2=�56�C6E@C?@�56�=2�>6D2��?�=2�7:8FC2� ��D6�AF656G6C�F?�6DBF6>2�56� =2�A=242��#*�>@56=@������BF6�7F6�>FJ�FE:=:K252�5FC2?E6�=@D�2W@D����J�����>:56���I� >6EC@D�J�A6C>:E6�2;FDE2C�6=� E:6>A@�56�C6G6C36C24:Y?�BF6�D6�@3E:6?6�>@G:6?5@�F?2�>6>3C2?2�A@C@D2�>SD46C42�@�>SD�=6;@D�56�=2�A=242"2�42=:525�56� =2�C6G6C36C24:Y?�@3E6?:52�6?� =2�A=242�E2>3:T?�AF656�D6C�2=E6C252��G2C:2?5@�=2�E6?D:Y?�56�=@D>F6==6D�BF6�=2�>2?E:6?6?�6?�DFDA6?D:Y?�"2�42=:525�56=�D@?:5@�@3E6?:5@�6D�DFA6C:@C�2=�BF6��D6�4@?D:8F6�4@?=@D�>F6==6D��J�2=8F?@D� 723C:42?E6D�@7C646?�>@56=@D�56�5:>6?D:@?6D� C65F4:52D�BF6�A6C>:E6?�DF� EC2?DA@CE67S4:=>6?E6��D:6?5@�256>SD�:?>F?6D�2�=2D�G:3C24:@?6D�6IE6C?2D

+$�����)����(�,�(��(���Q$�����*�"�=�AC:?4:A:@�56�7F?4:@?2>:6?E@�56�F?�D:DE6>2�56�C6G6C36C24:Y?�5:8:E2=�6DES�6DBF6>2E:K25@�6?�=2�7:8FC2� ���=AC:>6C�A2D@�6DEC:32�6?� =2�4@?G6CD:Y?�56� =2�D6W2=�2?2=Y8:42�56�2F5:@��BF6�?@�6D�>SD�BF6�F?2�DF46D:Y?�56>Z=E:A=6D�G@=E2;6D��6?�F?2�D6W2=�56�E:A@�?F>TC:4@��4@>AF6DE2�A@C�=2C8FUD:>2D�D64F6?4:2D�4@>AF6DE2D�DY=@56�5@D�G2=@C6D�56�G@=E2;6��"2�EC2?D7@C>24:Y?�56�=2�D6W2=�6?�5U8:E@D��BF6�DY=@�E:6?6?�5@D�G2=@C6D��A6C>:E6�BF6TDE2�D62�2=>246?252�6?�F?2�>6>@C:2�(�#�#65:2?E6�=@D�4@?EC@=6D�56�2446D@�2�6DE2�>6>@C:2��BF6�4@?E:6?66=� A2?6=� 7C@?E2=� 56� 4F2=BF:6C� >@56=@� 56� C6G6C36C25@C�� 6D� A@D:3=6� >2?:AF=2C� =@D� 52E@D� 2=>246?25@D� A2C2=@8C2C� BF6� D6� 86?6C6� 6=� E:A@� 56� C6G6C36C24:Y?� BF6� ?@D� 4@?G6?82� +?� 4@?G6CD@C� 56� D2=:52� 4@?G6CE:CS� =@D:>AF=D@D�5:8:E2=6D�6?�F?2�D6W2=�56�2F5:@�4@?G6?4:@?2=��BF6�A@5CS�>6K4=2CD6�6?�=2�AC@A@C4:Y?�56D6252�4@?=2�D6W2=�@C:8:?2=

"2�G6?E2;2�BF6�E:6?6�6DE6�D:DE6>2�D@3C6�=2�>2J@CU2�56�>TE@5@D�2?2=Y8:4@D�6DEC:32�6?�BF6�=2�D6W2=�?@�DF7C6?:?8F?2� 568C2524:Y?�� J2� BF6� =@D� >TE@5@D� 2?2=Y8:4@D� DF6=6?� AC@G@42C� F?2� 568C2524:Y?� � AC@A@C4:@?2=� 2=E:6>A@�56�42U52�4@?�BF6�D6�EC232;6"@D�86?6C25@C6D�5:8:E2=6D�24@DEF>3C2?�2�A@D66C�F?2�C6D@=F4:Y?�6?�6=�4@?G6CD@C�56�6?EC252�56����2����3:ED�2F?BF6�2=8F?@D�>@56=@D�>SD�D@7:DE:425@D�A@D66?�6?EC6��� J� ��3:ED�56�C6D@=F4:Y?�6?�DF��4:C4F:E@� :?E6C?@"@D�A2CS>6EC@D�>SD� :>A@CE2?E6D�BF6�AF656?�D6C�>@5:7:425@D�6?� E@52�F?:525�56�C6G6C36C24:Y?�5:8:E2=�D@?=@D�BF6�D:8F6?��%$�%�"����=�FDF2C:@�AF656�6=68:C�F?�>@56=@�6DA64U7:4@�56�C64:?E@��D2=2�56�4@?4:6CE@��42G2�56�;2KK��:8=6D:2�6E4�A2C2�BF6�=2�F?:525�D:>F=6�=2�C6G6C36C24:Y?�BF6�D6�@3E:6?6�6?�4252�=F82C�%���!�+�� �DE6� 4@?EC@=� A6C>:E6� 6D4@86C� 6=� E:6>A@� BF6� EC2?D4FCC6� 6?EC6� =2� D6W2=� @C:8:?2=� J� =2D� AC:>6C2DC67=6I:@?6D�� A2C2� D:>F=2C� 6=� =2AD@� E6>A@C2=� BF6� 6=� D@?:5@� E2C52CU2� 6?� :C� J� C63@E2C� 56� =2D� A2C656D� >SDACYI:>2D�2=�9:A@ETE:4@�@J6?E6��=�E:6>A@�>SD�FDF2=�6DES�2=C6565@C�56�����>:=:D68F?5@D��)�%��%�'�$#� '�"����23:EF2=>6?E6� D6� AF656?�6D4@86C� 5@D� E:6>A@D�56�42U52�A2C2� =2� C6G6C36C24:Y?��F?@A2C2� =2D� 7C64F6?4:2D 32;2D� J� @EC@� A2C2� =2D� 7C64F6?4:2D� >65:2D�� D:6?5@� A@D:3=6� 6D4@86C� =2� 7C64F6?4:2� 56EC2?D:4:Y?�6?EC6�F?2D�J�@EC2D��==@�A6C>:E6�D:>F=2C�F?@D�6DA24:@D�4@?�5:DE:?E@�4@67:4:6?E6�56�23D@C4:Y?��#&�'+�� �DE6� 4@?EC@=� A6C>:E6� 6D4@86C� F?� >2J@C� @� >6?@C� ?Z>6C@� 56� C67=6I:@?6D� AC6D6?E6D� 6?� =2� D6W2=86?6C252��=8F?@D�AC@8C2>2D�42=4F=2?�6DE6�A2CS>6EC@�32DS?5@D6�6?�=2�5:>6?D:Y?�56=�C64:?E@��6D4@8:5@��6:?4C6>6?E2?�=2�56?D:525�4@?7@C>6�2F>6?E2�6=�E2>2W@�56=�>:D>@��%��'���)�%�� ��*� $@C>2=>6?E6� =2� D6W2=� BF6� 4@?E:6?6� =2� C6G6C36C24:Y?� J2� 86?6C252� D6� 6?GU2� 924:2� =2>6D2��A2C2�D6C�>6K4=252�4@?�=2�D6W2=�@C:8:?2=�&6C@�6?�2=8F?@D�42D@D�=2�D6W2=�=:>A:2��5CJ��AF656�>6K4=2CD64@?�=2�D6W2=�AC@46D252��C6G6C36C252��6?�6=�>:D>@�2A2C2E@��DE2�6D�=2�7F?4:Y?�56�6DE6�4@?EC@=�56�>6K4=2

�)�#�&&� "2D� F?:5256D� BF6� 4@?E:6?6?� 6DE6� A2CS>6EC@� AF656?� C68F=2C� 6=� 3C:==@� 56� =@D� C63@E6D� @3E6?:5@D�D:>F=2?5@�56D56�F?� C64:?E@� �>F6CE@�� �BF6�6D� 2BF6=� C6A=6E@� 56�>2E6C:2=6D�23D@C36?E6D�2�F?� C64:?E@� �G:G@��2BF6=�BF6�42D:�?@�4@?E:6?6�?:?8Z?�6=6>6?E@�23D@C36?E6�

�&"�����%$�)����"�)�+$�����)����(�,�(��(���Q$$@C>2=>6?E6�=2D�F?:5256D�56�C6G6C36C24:Y?�D6�D:EZ2?�6?�=2�=U?62�56�6?GU@D�2FI:=:2C6D�@�56�6?GU@�56�6764E@D56� =2�>6D2�� =2�D6W2=� C68C6D2�2� =2�>6D2�J�2==U�6D�>6K4=252�4@?� =2�@C:8:?2=�$@�@3DE2?E6��6?�2=8F?@D�42D@D�AF656� :?D6CE2CD6�6?� =2� =U?62�56 ����� 56=�>:D>@�42?2=��D:6>AC6�BF6� =2�F?:525�56� C6G6C36C24:Y?� E6?82�F?4@?EC@=� 56� >6K4=2� ��:C64E(6G6C3� #:I�� BF6� ?@D� A6C>:E2� 6764EF2C� 6=� 32=2?46� 6?EC6� =2� D6W2=� =:>A:2� J� =2AC@46D252"2� C6G6C36C24:Y?�AF656�D6C�2A=:4252�2�4F2=BF:6C� D@?:5@�>FD:42=�� 2F?BF6�D6�FE:=:K2�4@?�AC676C6?4:2�6?� =2DA6C4FD:@?6D� J� 6?� =2D� G@46D� "@�>SD� :>A@CE2?E6�� 6?� 4F2=BF:6C� 42D@�� 6D� D236C� 6D4@86C� 4@CC64E2>6?E6� =@D?:G6=6D�56�24EF24:Y?�56=�AC@46D25@C�6?�4252�42D@�D� 65F42E:G@� AC6DE2C� 2E6?4:Y?� 2� =2� C6G6C36C24:Y?� BF6� D6� FE:=:K2�� 6?� 5:G6CD@D� :?DECF>6?E@D�� A2C2� =2DAC@5F44:@?6D� 5:D4@8CS7:42D� 56� >ZD:42� A@A�� J� 2DU� 4@?DE2E2C� 2F5:E:G2>6?E6� =@D� >2E:46D� 5:G6CD@D� BF6� � D6AF656?�6IEC26C�56�F?� :?DECF>6?E@�4@?� =2�D23:2�FE:=:K24:Y?�56�6DE6�6764E@�+?�6;6>A=@�>FJ�AC64:D@�D6CU2� =2C6G6C36C24:Y?�BF6�2A=:42�&9:=��@==:?D�A2C2�DF�32E6CU2��4@>A=6>6?E252�6?�6DE6�42D@�A@C�F?2�AF6CE2�56�CF:5@4@=@4252�6?�D6C:6&2C2�C62=K2C�=2�AC@7F?5:525�56�>F492D�8C2324:@?6D�6DE6C6@7Y?:42D��D6�AF656�6?G:2C�F?2�A6BF6W2�>F6DEC256=�D@?:5@�BF6�D2=6�A@C�6=�42?2=�:KBF:6C5@�924:2�6=�56C649@��J�G:46G6CD2�)@3C6�6DE2D�>F6DEC2D�D6�2A=:42�F?4:6CE@�8C25@�56�C6G6C36C24:Y?�BF6�C62=K2�=2�:>286?�6DETC6@�56�=2�8C2324:Y?��DE2�ACS4E:42�6D�32DE2?E6�FDF2=�J�6=�D64C6E@�A2C2�=@8C2C�F?2�>2J@C�56?D:525�24ZDE:42�D:?�A6C;F5:42C�=2�4=2C:525�>FD:42=�6D�D236C�6D4@86C�6=E:6>A@�56�C6G6C36C24:Y?��>SD�3:6?�4@CE@���=@D�:?DECF>6?E@D�2�=@D��BF6�D6�2A=:42��>6;@C�BF6�?@�D62?�>F49@D��J�=2�:?E6?D:525�56�=@D�6?GU@D��BF6�5636�6DE2C�F?@D� ��564:36=:@D�A@C�5632;@�56�=2�D6W2= AC:?4:A2=���%�(&�$#�&�� $@� DF6=6� D6C� @A@CEF?@� 2A=:42C� C6G6C36C24:Y?� 2� E@5@D� =@D� 6=6>6?E@D� BF6� 4@>A@?6?� F?232E6CU2��J2�BF6�D6�A:6C56�A2CE6�56=�4@?EC2DE6�BF6�5636�9236C�6?EC6�=@D�6=6>6?E@D�BF6�=2�4@>A@?6?��F2?5@D6�BF:6C2�2A=:42C�6DE6�6764E@�56�7@C>2�86?6C2=�D@3C6�G2C:@D�6=6>6?E@D�56�F?2�32E6CU2��6D�4@?G6?:6?E6�BF6�=6AC64652�F?2�AF6CE2�56�CF:5@��J�2DU�AC6D6CG2C�4=2C2>6?E6�6=�D@?:5@�AC@A:@�56�4252�E2>3@C�D�32DE2?E6�FDF2=�2A=:42C�4:6CE@�8C25@�56�C6G6C36C24:Y?�2=�3@>3@�56�A:6��D:�D6�56D62�2F>6?E2C�DF�AC6D6?4:26?�=2�>6K4=2"@D�A=2E:==@D�?@�DF6=6?�?646D:E2C�56�6DE6�6764E@��?@�@3DE2?E6�AF656�D6C�BF6�6?�2=8Z?�42D@�4@?G6?82�2=2C82CDF� 42U52� ?2EFC2=� �?� 6DE6� 42D@� D6� AF656� 2A=:42C� F?2� C6G6C36C24:Y?� D@3C6� =2D� 2=E2D� 7C64F6?4:2D�� 5@?56AC65@>:?6?�=2D�AC:>6C2D�C67=6I:@?6D��62C=J�C67=64E:@?D��?�=@D�E2>3@C6D�6=�6764E@�BF6�D6�G2J2�2�FD2C�56A6?56�56=�E:A@�56�AC@5F44:Y?�>FD:42=�BF6�D6�C62=:46�):�D656D62�6?D2=K2C�6=�D@?:5@�56�6DE@D�E2>3@C6D�AF656�2A=:42CD6�F?2�C6G6C36C24:Y?�6?EC6�����J� �D68F?5@D��D:E2?�DY=@�D6�AC6E6?56�52C=6D�F?�A@4@�>SD�56�4F6CA@��6D�DF7:4:6?E6�4@?�F?�E:6>A@�6?EC6�����J���D68F?5@��DA@D:E:G@�C62=K2C�=2�56?D:525�56�=2�C6G6C36C24:Y?�J�C65F4:C�=2�:?E6?D:525�56�=2D�AC:>6C2D�C67=6I:@?6D�(�'�%%�&� �A=:42C� =2� C6G6C36C24:Y?� D@3C6� =2D� 8F:E2CC2D� 6=T4EC:42D� ?@� 6D� F?� 2DF?E@� D6?4:==@�� J2� BF6� AF6566?EFC3:2C� =2� 2F5:4:Y?� 4F2?5@� 6=� 8F:E2CC:DE2� 6DES� C62=:K2?5@� F?� 7C2D6@� CSA:5@��?� 4F2=BF:6C� 42D@�6D� AC64:D@6?D2J2C�J�AC@32C��92DE2�6?4@?EC2C�6=�E:6>A@�56�42U52�>SD�4@?G6?:6?E6�A2C2�4252�42D@�*2>3:T?�AF656�D6C:?E6C6D2?E6� 9246C� ACF632D�92DE2� 92==2C� F?� C6E2C5@�6?EC6�6=� 24@C56�J� =2� C6G6C36C24:Y?�BF6� C62=46�6=� D@?:5@@3E6?:5@��D:?�6?DF4:2C=@&2C2�=2D�8F:E2CC2D�24ZDE:42D�6DES�:?5:4252�F?�C6G6C36C24:Y?�D@3C6�=2D�7C64F6?4:2D�>65:2D�J�28F52D��4@?�F?E:6>A@�6?EC6�����J���� D68F?5@D��?�E@5@D� =@D�42D@D�92J�BF6�D6C�>FJ�ACF56?E6��J�AC@4FC2C� �BF6�6=�D@?:5@@C:8:?2=� 56� =2� 8F:E2CC2� 24ZDE:42� 6DET� G2C:@D� 5�D� A@C� 6?4:>2� 56=� D@?:5@� AC@46D25@� A@C� =2� F?:525� 56C6G6C36C24:Y?�?�>F49@D�5:C64E@D�D6�FD2�6DE6�6764E@�A2C2�2F>6?E2C�6=�4F6CA@�56� =2�8F:E2CC2��6?G:2?5@� =2� C6G6C36C24:Y??@C>2=� 924:2� F?� =25@�56� =2D� 42;2D�� J� C6G6C36C24:Y?� :?G6CD2�924:2�6=� @EC@� 4@?�D:>:=2C� :?E6?D:525�6?�2>3@D6?GU@D�$��&� &2C2� 6?C:BF646C� =2� >FD:42=:525� 56� =2D� A2CE6D� G@42=6D�� D6� 24@DEF>3C2� 2� A@E6?4:2C� =2D� AC:>6C2DC67=6I:@?6D��>:6?EC2D�BF6�=2�56?D:5256D�>SD�3:6?�C65F4:52��F2?5@�=@�>SD�:>A@CE2?E6�D62�6=�6?E6?5:>:6?E@56� =2D�A2=23C2D��D6CS�AC64:D@�BF6�6=� E:6>A@�56�C6G6C36C24:Y?�D62�4@CE@�#65:2?E6�6DE6�AC@46D25@C�D6�92?4C625@�>F=E:EF5�56�6764E@D�6DA64:2=6D�A2C2�=2D�G@46D��4@?�C6DF=E25@D�56D:8F2=6D���?�2=8F?@D�42D@D�C6DF=E2?72D4:?2?E6D��>:6?EC2D�BF6�6?�@EC@D�DF6?2?�AC6E6?4:@D@D�):6>AC6�4@?G:6?6�E6?6C�F?2�:562�>FJ�4=2C2�56�=@BF6�D6�BF:6C6�@3E6?6C��J�?@�:C�AC@32?5@�2=�2K2C�92DE2�6?4@?EC2C�F?2�C6G6C36C24:Y?��6DA64E24F=2C���2J�BF6E6?6C� 4F:525@� 4@?� 6=� ?:G6=� 56� T?72D:D� BF6� D6� 2A=:BF6� 2� =2D� 7C64F6?4:2D� 2=E2D�� J2� BF6� F?� ?:G6=� 6I46D:G@AC@G@42CS�F?2�D:=:3S?4:2��C67F6CK@�6I286C25@�56�=2D�6D6D��D:6>AC6�>@=6DE2

+$�����)����(�*�(�%"2D�F?:5256D�56�C6E2C5@�2=>246?2?� =2D�D6W2=6D�2F5:@�6?�F?�D:DE6>2�56�>6>@C:2��BF6�AF656�D6C�5:8:E2=�@2?2=Y8:4@��J�=2D�EC2?D7:6C6?�2�=2�D2=:52�4F2?5@�92�A2D25@�6=�E:6>A@�:?5:425@

�4EF2=>6?E6� =@D� C6E2C5@D�4@?� E64?@=@8U2�5:8:E2=� 92?�2CC:?4@?25@��6?� =2�ACS4E:42��2� =@D�56� E:A@�2?2=Y8:4@��2A6D2C�56 BF6�2=8F?@D�>ZD:4@D�6IAC6D6?�DF�AC676C6?4:2�A@C�6DE@D�Z=E:>@D��J2�BF6�6=�D@?:5@�BF6�6?EC682?�6D>SD� 4S=:5@� J� 4@?�>SD� 4F6CA@��6�9649@�6=� :?6G:E23=6� CF:5@� :?E6C?@�BF6�86?6C2?� =2D�F?:5256D�2?2=Y8:42D�;F?E@�4@?�6=�G6?E2;@D@�AC64:@�BF6�E:6?6?�=2D�56�E:A@�5:8:E2=��92?�>@E:G25@�6DE2�AC676C6?4:2�86?6C2=�924:2�6DE2DZ=E:>2D%EC2�G6?E2;2�2W25:52�BF6�@7C646?�=@D�2A2C2E@D�56�E64?@=@8U2�5:8:E2=��6D�BF6�6?�=2�>:D>2�F?:525�56�C6E2C5@DF6=6?�:?E68C2CD6�@EC@D�6764E@D��G:3C2E@��7=2?86C��49@CFD��6E4

�?� =2� 7:8FC2� �� D6�>F6DEC2� 6=� 5:28C2>2�6?�3=@BF6D�56�F?� D:DE6>2�56� C6E2C5@� �56=2J�� 5:8:E2=� "2� D6W2=� 566?EC252� A2D2� 2� EC2GTD� 56� F?� 4@?EC@=� 56� 82?2?4:2�� A2C2� =F68@� D6C� 4@?G6CE:52� 6?� :>AF=D@D� 5:8:E2=6D�� 6DE@D:>AF=D@D�D6�2=>246?2?�6?�=2�F?:525�56�>6>@C:2��(�#�>6>@CJ��*@52D�6DE2D�7F?4:@?6D�6DES?�4@?EC@=252DA@C� F?@D� :>AF=D@D� 56� 7C64F6?4:2� 86?6C25@D� A@C� F?� C6=@;A2ECY?� �4=@4<� 86?6C2E@C�� BF6� =2D� D:?4C@?:K2#65:2?E6�=@D�4@?EC@=6D�56=2?E6C@D�56=�2A2C2E@�D6�AF656�244656C�2=�>2E6C:2=�2=>246?25@��A2C2�6?G:2C=@�924:2=2�D2=:52�56=�>:D>@�56DAFTD�56=�C6E2C5@�E6>A@C2=�BF6�?@D�:?E6C6D6�=� 4:C4F:E@� 56� C62=:>6?E24:Y?� �7665324<�� 6?GU2� F?2� A2CE6� 56� =2� D6W2=� 56� D2=:52� @EC2� G6K� 924:2� =2� =U?62� 566?EC252��56�6DE2�7@C>2�=2�F?:525�A@5CS�86?6C2C�6764E@D�56�64@�A6C764E2>6?E6�4@?EC@=23=6D"@D� C6E2C5@D� 5:8:E2=6D� D@?� F?2D� F?:5256D�>FJ� 7=6I:3=6D�� J2� BF6�A6C>:E6?� =2� 4C624:Y?�56�>Z=E:A=6D� 6764E@D2W25:6?5@�6=�D@?:5@�C6E2C525@�2=�@C:8:?2=��A6C@�256>SD�AF656?�86?6C2C�@EC@D�6764E@D �4@>@�6=�G:3C2E@��BF6DY=@�AC64:D2�C6E2C52C�A2CE6�56�=2�D6W2=�2F5:@�"2�82>2�56�7C64F6?4:2D�56�F?�C6E2C5@�4@?�4:6CE2�42=:525�5636==682C�2�=@D����<�K��A6C@�A2C2�A@56C�86?6C2C�5:G6CD@D�6764E@D��4@>@�64@D��4@C@D��A92D:?8��6E4��6D�DF7:4:6?E6BF6�=2�32?52�A2D2?E6�==68F6�92DE2�=@D�� �<�K�6� :8F2=� 7@C>2� :?E6C6D2� BF6� =2� 56?D:525� 56� =2� D6W2=� D62� 6=6G252�� A2C2� BF6� 4@?E6?82� F?2� 6=6G252:?7@C>24:Y?� 56� E@5@� 6=� 6DA64EC@� >FD:42=� �DU� =2D� F?:5256D� 4@?� F?2� 42A24:525� 56� ��� @� 56� ��� 3:E� D@?AC676C:3=6D�2�=2D�BF6�EC232;2?�4@?����� �@����3:E"@D�86?6C25@C6D�56�C6E2C5@�J�64@D�D6�FE:=:K2?�E2?E@�A2C2�AC@46D2C�G@46D�4@>@�A2C2�5:G6CD@D�:?DECF>6?E@D�6A6?5:6?5@�56=�E:6>A@�56�C6E2C5@�4@?�BF6�D6�EC232;6��J�56�=2�:?E6?D:525�56�=2D�C6A6E:4:@?6D��D6�FE:=:K2�A2C2C6>2C42C�4:6CE2D�7C2D6D�56=�42?E2?E6��2W25:6?5@�F?�64@�4F2?5@�TDE2D�7:?2=:K2?��D�>FJ�FDF2=��6>A=62C�F?2�5@D�@�EC6D�C6A6E:4:@?6D�56�64@�4F2?5@�D6�56D62�6?72E:K2C�F?�C:E>@�6?�4@?4C6E@��6D�6DE@D�42D@D�4@?G:6?6�F?4@?EC@=�>FJ�AC64:D@�56=�E:6>A@�56�C6E2C5@�J�56=�42?2=�25@?56�D6��6?GU2�6=�6764E@��A2C2�BF6�6=�D@?:5@�@3E6?:5@E6?82�F?�E6>A@�C68F=2C�J�DF6?6�?2EFC2=��?�E@5@D�=@D�42D@D�92J�BF6�G:8:=2C�A2C2�BF6�6=�:?:4:@�J�6=�7:?2=�56�=224EF24:Y?�56=�C6E2C5@�4@:?4:52?�4@?�=@D�A2D2;6D�>FD:42=6D�56D625@D��6=�3@EY?�56�6?GU@�56�F?�42?2=�2FI:=:2CAF656�D6CG:C?@D�56�4@?>FE25@C�A2C2�6==@

����*%)�����*�"�)�=� A@56C� 4@?G6CE:C� F?2�D6W2=�56�G@=E2;6� D6?@:52=� �D6W2=�56�2F5:@��6?�F?2�DF>2�56� :>AF=D@D�4@?�DY=@�5@DG2=@C6D� �D6W2=�5:8:E2=��92�A6C>:E:5@�56D2CC@==2C�5:G6CD@D� E:A@D�56�6764E@D�2A=:423=6D�2=�AC@8C2>2�>FD:42=��D:3:6?�=2�>2J@C�A2CE6�56�6==@D�?@�6I:DE6?�6? =2�$2EFC2=6K2 �D@?�E@E2=>6?E6�2CE:7:4:2=6D��&@C�6DE6�>@E:G@�92J�BF6D6C�ACF56?E6�4F2?5@�D6�FE:=:46?��J2�BF6�2=�?@�AC@4656C�56�F?2�6IA6C:6?4:2�>FD:42=�?@C>2=��AF656?�D@?2C56>2D:25@�6IEC2W@D�2�?F6DEC@D�@U5@D��D:�6I286C2>@D�6?�DF�2A=:424:Y?�ACS4E:42�=�AC@46D@�56�>65:52�J�4F2?E:7:424:Y?�56�F?2�A@C4:Y?�56�=2�D6W2=�2?2=Y8:42�6D�4@?@4:5@�4@?�6=�?@>3C6�56�D2>A=625@��@�>F6DEC6@��BF6�D:8?:7:42�D242C�>F6DEC2D�56�2=8@��?�=2�7:8FC2�?M� ��D6�G6�=@�BF6�@4FCC6�4@?�F?2

A@C4:Y?�56�D6W2=�56�2F5:@�4F2?5@�92�D:5@ �����������D6�92�C64@CE25@�6?�A@C4:@?6D�J�4252�A@C4:Y?�92�D:5@>6DFC252��F2?E@�>2J@C�D62�=2�42A24:525�56�F?�4@?G6CD@C����6?�=@�C676C6?E6�2=�?Z>6C@�56�A@C4:@?6D�6?BF6� D6� �D2>A=62�� =2� D6W2=� 56� 2F5:@��>2J@C� 6D� =2� D6>6;2?K2�56� =2� D6W2=� 5:8:E2=:K252� 4@?� =2� @C:8:?2=��DE242A24:525�D6�>6DFC2�A@C�6=�?Z>6C@�56�3:ED�4@?�BF6�EC232;2�6=�4@?G6CD@C�����4F2?E@�>2J@C�D62�TDE6�>6;@CC6D@=F4:Y?�@7C646CS�6=�D:DE6>2

%EC@�52E@�BF6�92J�BF6�E6?6C�6?�4F6?E2�6D�=2�G6=@4:525�4@?�BF6�D6�4F2?E:7:42�=2�D6W2= 56�2F5:@��J2�BF6�56�6==@56A6?56�6=� =U>:E6�56�7C64F6?4:2D�28F52D�BF6�AF656�C6E6?6C�=2�>6>@C:2��DU��D:�D6�56D62�A@56C�@A6C2C�4@?2C>Y?:4@D�BF6�==68F6?�92DE2�=@D����<�K��D6CS�?646D2C:@�BF6�6=�AC@46D25@C�E6?82�F?2�G6=@4:525�56�>F6DEC6@5@D�G646D�J�>65:2�DFA6C:@C�2�6DE6�G2=@C��2=C6565@C�56����<�K���?��86?6C2=��4F2?E@�>2J@C�D62�=2�7C64F6?4:256�>F6DEC6@�>2J@C�D6CS�6=�=U>:E6�56�=2D�2=E2D�7C64F6?4:2D�4@?�BF6�@A6C6�F?�D:DE6>2��J�4F2?E@�>2J@C�D62�6=?Z>6C@� 56� 3:ED� 56� BF6� 5:DA@?82?� =@D� 4@?G6CD@C6D� ��� J� ���� >2J@C� D6CS� =2� 6IE6?D:Y?� 5:?S>:42� 56=AC@46D25@C

�$%$&���DE6�6764E@�D6�2A=:42�4@?�4:6CE2�7C64F6?4:2�2�=2D�8F:E2CC2D��32;@D�6=T4EC:4@D�J�E64=25@D�&2C2�@3E6?6C=@D6�2A=:42�F?�C6E2C5@�56�2=8F?2D�5T4:>2D�56�>:=:D68F?5@�D@3C6�6=�BF6�D6�@A6C2�4@?�F?2�A6BF6W2�>@5F=24:Y?2=C6565@C� 56� �� <�K� &2C2� @3E6?6C� =@D� >6;@C6D� C6DF=E25@D�� 6=� D@?:5@� 5:C64E@� J� 6=� C6E2C525@� 5636?� 6DE2C>6K4=25@D�6?�F?2�AC@A@C4:Y?�A2C64:52��=�?@>3C6�56�6DE6�6764E@�AC@G:6?6�56�=2�:>AC6D:Y?�BF6�4C62��J�BF64@?D:DE6�6?�5@D�@�>SD�:?DECF>6?E@D�@�G@46D�D@?2?5@�2�=2�G6K��F?4:@?2�4@CC64E2>6?E6�D:�D6�EC232;2�4@?�F?2�D@=2�=U?62��>@?@���A6C@�D6�@3E:6?6�F?�C6DF=E25@�>F49@�>SD6DA64E24F=2C�4F2?5@�D6�6?GU2�6=�:?DECF>6?E@�D:?�AC@46D2C��5CJ��A@C�F?�42?2=��J�6=�AC@46D25@�A@C�6=�@EC@

������DE6�6764E@�6DES�32D25@ 6?�=2�4C624:Y?�2CE:7:4:2=�56�F?�42?2=�5FA=:425@�56=�@C:8:?2=�&2C2�6==@�D6�E@>2�F?C6E2C5@� 4@?� F?� G2=@C� 56� F?@D� ���� >D�� J� D@3C6� TDE6� D6� :?EC@5F46� F?2� A6BF6W2� G2C:24:Y?� D@3C6� DF� @?52D6?@:52=��4F2?5@�D6�2W256�6=�?F6G@�42?2=�2=�@C:8:?2=�52�=2�:>AC6D:Y?�56�BF6�D6�EC2E2�56�5@D�:?DECF>6?E@D�@G@46D�A2C64:52D�D@?2?5@�2=�>:D>@�E:6>A@�)6�EC2E2�56�F?�6764E@�>FJ�A2C64:5@�AF6D��2=�56�4@C@D��J�4@>@2BF6=�6D�AC64:D@�4@?EC@=2C�3:6?�6=�32=2?46�6?EC6�6=�D@?:5@�AC@46D25@�J�6=�?@�AC@46D25@��D:�56D62>@D�@3E6?6CF?�C6DF=E25@�?2EFC2=

���%�'$� )6�EC2E2�56=�>:D>@�6764E@�@3E6?:5@�4@?�=@D�4@C@D��A6C@�D:?�2W25:C�6=�42?2=�56=�D@?:5@�D:?�AC@46D2C�=� ?@� :?4=F:C� =2� D6W2=� @C:8:?2=� 6=� E:6>A@� 56� C6E2C5@� 5636� D6C� >SD� 4@CE@�� E:6>A@D� :?76C:@C6D� 2� =@D� ��>:=:D68F?5@D�D@?�2AC@A:25@D��DE6 6764E@�5636�D6C�FE:=:K25@�4@?�>F492�5:D4C64:Y?��D:�?@�D6�BF:6C6�AC@5F4:CF?�D@?:5@�>FJ�2CE:7:4:2=

!�#��#�� %C:8:?2=>6?E6� 6DE6� 6764E@� D6� 4@?D68FU2� >65:2?E6� 6=� FD@� 56� 5@D� >28?6E@7@?6D� BF6� E6?U2?8C2325@� 6=� >:D>@� AC@8C2>2� >FD:42=� "@D� 5@D� 2A2C2E@D� 6C2?� AF6DE@D� 6?� >2C492� D:?4CY?:42>6?E6�� A6C@2=E6C?2E:G2>6?E6�D6�C65F4U2�=2�G6=@4:525�56�2CC2DEC6�6?�F?@�J�@EC@�2A2C2E@��DE@�AC@G@4232�F?2�:?E6C244:Y?6?EC6�=2D�5@D�D6W2=6D�56�2F5:@��BF6�6?�2=8F?@D�A2D2;6D�D6�C67@CK232�>:6?EC2D�6?��@EC@D�D6�42?46=232��52?5@=F82C�2�F?�D@?:5@�>FJ�A64F=:2C�DE6�6764E@�AF656�D6C�FE:=:K25@�4@?�=2�G@K�@�4@?�5:G6CD@D�:?DECF>6?E@D��A6C@�A@C�DF�6DA64:2=�?2EFC2=6K2�?@�6D2AC@A:25@� A2C2� D6C� FD25@� 6?� E@5@D� =@D� 6DE:=@D�>FD:42=6D� �?� @42D:@?6D�� FE:=:K2C� =2� D2=:52� � 4@>3:?252� 56=7=2?86C�J�=2 D6W2=�@C:8:?2=��J�2W25:C=6�F?2�A6BF6W2�C6G6C36C24:Y?��AF656�DFA@?6C�F?2�2=E6C?2E:G2�4@CC64E2�F2?5@�D6�FE:=:K2�6DE6�6764E@�92J�BF6�E6?6C�AC6D6?E6�BF6�4F2?E@�>2J@C�6D�=2�C62=:>6?E24:Y?��7665324<��BF6D6�2A=:42��>SD�?@E@C:@�J�28C6D:G@�C6DF=E2�6=�6764E@

���&�#�� )6�EC2E2��3SD:42>6?E6���56�F?�4:C4F:E@�4@?�5@D�6?EC252D�D:>F=ES?62D�56�D6W2=��F?2�56�=2D��4F2=6DA6C>2?646�:?2=E6C252��>:6?EC2D�@EC2�DF7C6�F?2�>@5:7:424:Y?�6?�DF�72D6��=�6764E@��A92D6C��C6DF=E2�4F2?5@��2=2�D2=:52�56=�4:C4F:E@��=2D�5@D�D6W2=6D�D6 F?6?��C6DF=E2?5@�F?2�D6W2=�BF6�4@?E:6?6�5:G6CD2D�42?46=24:@?6D�5672D6,2C:2?5@�6=�32=2?46�6?EC6�6=�D@?:5@�5:C64E@�J�6=�AC@46D25@�D6�>@5:7:42�6=� C6DF=E25@�56=�6764E@��?�2=8F?@D42D@D�6D�A@D:3=6�:?G6CE:C�=2�A@=2C:525�56�F?2�@�56�=2D�5@D�D6W2=6D��AC@5F4:6?5@�F?�6764E@�>SD�AC@?F?4:25@�=�A92D:?8�D6�FE:=:K2�4@?� 7C64F6?4:2�A2C2� =2D� E@>2D�56�8F:E2CC2D�� E64=25@D�J�A=2E@D�56� =2�32E6CU2��FE:=:K2?5@56D72D6D� >FJ� 5:G6CD@D�� J� BF6� AF656?� :C� 56D56� G2=@C6D� 42D:� :>A6C46AE:3=6D� 92DE2� G2=@C6D� 6=6G25@D�� BF6AC@G@42?�AF=D24:@?6D�56�=2�D6W2=�J�42?46=24:@?6D�?@E23=6D

�$�������$%�&���!�'$#$�#F49@D�56�=@D�6764E@D�4:E25@D�:>:E2?�D@?:5@D�BF6�AF656?�6I:DE:C�56�7@C>2�?2EFC2=�4@>@�A@C�6;6>A=@�6=�64@�J�=@D�4@C@D�&6C@�F?�>@5:7:425@C�56=�E@?@��&:E49�D9:7E6C��86?6C2�G2C:@D�6764E@D BF6?@�6I:DE6?�6?�24ZDE:42�C62=

"@D� AC:>6C@D�>@56=@D� 56�>@5:7:425@C6D� E@?2=6D� 7F6C@?� AC@5F4:5@D� A@C� =2� 7:C>2��G6?E:56�� 32;@� 6=� ?@>3C64@>6C4:2=�56���C>@?:K25@C6D����:8� ����A@C�6DE6�>@E:G@�6DE@D�AC@46D25@C6D�D@?�4@?@4:5@D��E2>3:T?��4@?�6=?@>3C6�86?TC:4@�56�2C>@?:K25@C6D�DE@D� 2A2C2E@D� EC232;2?� 4@?� =2� D6W2=� 2F5:@� @C:8:?2=�� J� >@5:7:42?� =@D� 2C>Y?:4@D� 56� TDE2� 2F>6?E2?5@� @5:D>:?FJ6?5@�DF�G2=@C��DE2�G2C:24:Y?�AF656�@D4:=2C�6?EC6������56�@4E2G2�92DE2�F?2�@4E2G2�6?E6C2�@�>SD�@?� 6=�>2?6;@� 56=�>@5:7:425@C� E@?2=� D6� AF656?� 4@?D68F:C� F?@D� 2C>Y?:4@D� 4@?D@?2?E6D� 4@?� 6=� 2C>Y?:4@AC:?4:A2=�@�E@E2=>6?E6�5:D@?2?E6D��E@5@�56A6?56�56�=2�D:EF24:Y?�56=�4@?EC@=�BF6�>@5:7:42�6=�G2=@C�56�TDE@D�=� �2C>@?:K25@C�� 5636� 4@?64E2CD6� 56� =2� >:D>2� >2?6C2� BF6� F?� C6E2C5@�� FE:=:K2?5@� F?@� 56� =@D� 6?GU@D2FI:=:2C6D�56�=2�>6D2�J�C6E@C?2?5@�=2�D6W2=��@�D6W2=6D��A@C�=@D�C6E@C?@D�56�2FI:=:2C�*2>3:T?�AF656�FE:=:K2CD6F?�Z?:4@�42?2=��FD2?5@�=2D�4@?6I:@?6D��:?D6CE��56=�>:D>@�J�6764EF2?5@�6=�32=2?46�6?EC6�6=�D@?:5@�@C:8:?2=�J�6=AC@46D25@�56D56�6=�>:D>@�2C>@?:K25@C���:8� ��

"2D�2A=:424:@?6D�ACS4E:42D�56�6DE@D�AC@46D25@C6D�D@?�>Z=E:A=6D��J�DY=@�EC2D�F?�E:6>A@�56�AC24E:42C�4@?�6==@D6D�A@D:3=6�G2=@C2C�DFD�A@D:3:=:5256D�C62=6D��6?6C2?�F?2�42?E:525�56�6764E@D :>AC6D:@?2?E6��4@?�F?2�42=:525>FJ�6=6G252��A6C@�=2�A@D:3:=:525�56�@3E6?6C�2C>@?U2D�A2C2=6=2D�2�=2�@C:8:?2=�6D�DF�4F2=:525�>SD�2AC64:252):�D6�2W256?�2C>Y?:4@D�F?2�@�5@D�@4E2G2D�A@C�5632;@�56=�G2=@C�@C:8:?2=��6=�D@?:5@�C6DF=E2?E6� E@>2�>2J@C4F6CA@�J�56?D:525�):�D6�FE:=:K2�4@?�F?2�8F:E2CC2�6=T4EC:42�� =2�25:4:Y?�56�@4E2G2D�56�7C64F6?4:2D�>SD�32;2D4C62�=2�:=FD:Y?�56�F?�32;@�6=T4EC:4@�BF6�6DES�E@42?5@�2=�E:6>A@�4@?�=2�8F:E2CC2�):�6DE2�25:4:Y?�D6�6764EZ2�4@?=@D�2C>Y?:4@D�56�F?2�@4E2G2�>SD�2=E2��6=�C6DF=E25@�DF6?2�4@>@�F?2�8F:E2CC2�6=T4EC:42�56�� �4F6C52D"@D�>@5:7:425@C6D� E@?2=6D�D@?�4252�5U2�>SD�FE:=:K25@D�6?�6=�AC@46D25@�56� =@D� :?DECF>6?E@D�56�A6C4FD:Y?�63:5@�2=�6DA64:2=�42CS4E6C�56=�D@?:5@�A6C4FE:G@��?@�92J�F?�G2=@C�7:;@�:?5:425@�A2C2�6=�4@?EC@=�56�42>3:@�E@?2=�

J�6=�ET4?:4@�5636�4@?7:2C�6?�DF�@U5@�J�6?�DF�923:=:525�A2C2�6?4@?EC2C�=@D�G2=@C6D�2564F25@D�6?�4252�42D@�?�4F2=BF:6C�42D@�=2�25:4:Y?�56�F?�A6BF6W@�C6E2C5@�2�=2�D6W2=�56=�2C>@?:K25@C�AC@5F46�F?�D@?:5@�8CF6D@�J4@?EF?56?E6��BF6�6DES�:?5:425@�A2C2�C62=K2C�=@D�E2>3@C6D�@�6=�3@>3@�56�A:6

������������,� ������� �����

�)(,!+��+,)�����*!*+�$�*����'&+�%�!��F2?5@� D6� 923=2� 56� D:DE6>2D� 56� A@E6?4:2� ?@D� C676C:>@D� D:6>AC6� 2� =@D� 6BF:A@D� 56� 2>A=:7:424:V?� D@?@C2AC6A2C25@D�A2C2�4F3C:C�F?2�2>A=:2�2F5:6?4:2��DE@D�D:DE6>2D�AF656?�6DE2C�5:D6T25@D�A2C2�=2��2>A=:7:424:V?56�=2�A2=23C2�@�A2C2�=2�2>A=:7:424:V?�>FD:42=#2� AC:?4:A2=� 4F2=:525� BF6� 5636� E6?6C� F?� D:DE6>2� 56� A@E6?4:2� 56DE:?25@� 2� EC2?D>:E:C� =2� A2=23C2� 6D� =2:?E6=:8:3:=:525� 56=�>6?D2;6�� 5:49@� 56� @EC2� 7@C>2� BF6� D6� 6?E:6?52� 4=2C2>6?E6� =@� BF6� 5:46� 6=� BF6� 923=2� #24=2C:525�56=�D@?:5@�BF6�6?EC682�F?�D:DE6>2�56�6DE6�E:A@�5636�D6C�DF7:4:6?E6�A2C2�BF6��56D56�4F2=BF:6C�=F82C56�=2�2F5:6?4:2��D6�6?E:6?52�A6C764E2>6?E6�=@�BF6�5:46�F?�@C25@C�DE@D�D:DE6>2D�?@�C6BF:6C6?�E2?E2�A@E6?4:2�56�2>A=:7:424:V?�4@>@��=@D�56DE:?25@D�2�=2�2>A=:7:424:V?�>FD:42=�@>@�C676C6?4:2�56��A@E6?4:2�32D6�?646D2C:2��D6�AF656�7:;2C�6?EC6����J����H2E:@D�A2C2��F?�=@42=�46CC25@�BF6>:52�����>6EC@D�4F25C25@D�� =2�23D@C4:V?�56=� C64:?E@�56E6C>:?2CP� =2�2>A=:7:424:V?�BF6�9282�72=E2�A2C2�BF6E@52��=2�2F5:6?4:2�6D4F496�4=2C2>6?E6�6=�>6?D2;6�@C2=&EC2� 42C24E6CRDE:42� AC@A:2� 56� =@D� D:DE6>2D� 56� A@E6?4:2� A2C2� =2� A2=23C2� 6D� =2� 5:DEC:3F4:V?� 6DA24:2=� 56� =@D2=E2G@46D� �?� =F82C� 56� 4@?E2C� 4@?� 5@D� 7F6?E6D� 56� D@?:5@� 56� 2=E2� A@E6?4:2 �=2D� 4@=F>?2D� 56� 2=E2G@46D� 22>3@D� =25@D� 56=� 6D46?2C:@�� 6DE@D� D:DE6>2D� 7F?4:@?2?� >6;@C� 5:DEC:3FJ6?5@� A@C� E@5@� 6=� C64:?E@� G2C:@D2=E2G@46D�56�A@42�A@E6?4:2��=�D:E:@�:5V?6@�A2C2�4@=@42C�=@D�2=E2G@46D�6D�6=�E649@��D:6>AC6�BF6�?@�E6?82�F?22=EFC2�6I46D:G2��J2�BF6�6? 6DE6�42D@�=@D�2=E2G@46D�E6?5CP?�BF6�D:EF2CD6�56=2?E6�J��2=C6565@C�56=�AW3=:4@�=� >@?E2;6� 56� 6DE@D� D:DE6>2D� ?@� AC6D6?E2� 4@>A=:424:@?6D� 6I46D:G2D�� J� D6� 4@>A@?6?� 56� F?@� @� G2C:@D>:4CV7@?@D��F?�>6K4=25@C�� =2�6E2A2�56�A@E6?4:2�J� =@D�2=E2G@46D��?�2=8F?@D�42D@D�AF656�D6C�4@?G6?:6?E6FE:=:K2C� F?� 4@>AC6D@C� @� F?2� AF6CE2� 56� � CF:5@�� A2C2� >6;@C2C� =2� :?E6=:8:3:=:525� 56� =2� A2=23C2� #@D� >:4C@DFE:=:K25@D�D@?�42C5:@:56D��=2�82>2�56�7C64F6?4:2D�BF6�6=�D:DE6>2�5636�C6AC@5F4:C�6DEP�D:EF252�6?EC6�=@D���� K� J� =@D� ��� < K�� J2� BF6� =2D� 7C64F6?4:2D�>PD� 2==P� 56� 6DE@D� G2=@C6D� :?E6CG:6?6?�>FJ� A@4@� 6?� =2� A2=23C2923=252#@D� D:DE6>2D� 56� A@E6?4:2� 56DE:?25@D� 2� =2� 2>A=:7:424:V?� >FD:42=� E:6?6?� @EC@� EC2E2>:6?E@� 5:DE:?E@�� J� =2E64?@=@8R2� 56=� D@?:5@� 6?� 5:C64E@� 2G2?K2� 4@?E:?F2>6?E6� A2C2� D2E:D7246C� =@D� 56D6@D� 56� =@D� 2CE:DE2D� J� 56=AW3=:4@�� D:6?5@� DF�@3;6E:G@� =@8C2C�F?2�42=:525�6?�6=� D@?:5@�5:C64E@�4@>A2C23=6�2� =2�BF6�D6�@3E:6?6�6?� =2D8C2324:@?6D�56�6DEF5:@,?�D:DE6>2�56�A@E6?4:2�>FD:42=�4@?E:6?6�5@D�DF3D:DE6>2D�D6A2C25@D�A6C@�C6=24:@?25@D�6?EC6�D:���=�D:DE6>256�2>A=:7:424:V?�AC:?4:A2=��BF6�6?GR2�6=�D@?:5@�924:2�6=�AW3=:4@��J�6=�D:DE6>2�56�>@?:E@C6D��56DE:?25@�2�4F3C:C=2D�?646D:5256D�56�=@D�>WD:4@D�D@3C6�6=�6D46?2C:@�?�=@D�4@?4:6CE@D�6764EF25@D�6?�C64:?E@D�A6BF6T@D��6DE@D�5@D�D:DE6>2D�DF6=6?�4@?EC@=2CD6�56D56�F?2�D@=2>6D2�56�>6K4=2D��J2�BF6�=2D�?646D:5256D�56�>@?:E@C:K24:V?�D@?�>PD�C65F4:52D�'6C@�4F2?5@�F?�4@?4:6CE@D6�6764EW2�6?�F?�C64:?E@�56�8C2?56D�5:>6?D:@?6D�@�2=�2:C6�=:3C6��6D�4@?G6?:6?E6�4@?E2C�4@?�=@D�5@D�D:DE6>2DA@C�D6A2C25@��J�4@?�5@D�@A6C25@C6D�56�>6D2�BF6�4@?EC@=6?�4@?�AC64:D:V?�DF�A2C46=2

�?�=2�7:8FC2���D6�AF656�G6C�=2�4@?46A4:V?�D:>A=:7:4252�56�4V>@�@A6C2�F?�D:DE6>2�56�2>A=:7:424:V?�D@?@C2�D62�4F2=�D62�DF�7F?4:V?�6DA64R7:42��=�8CFA@�56�6?EC252D�4@?E:6?6�E@5@D�2BF6==@D 6=6>6?E@D�BF6�4@?G:6CE6?

=2�6?6C8R2�24WDE:42�6?�6?6C8R2�6=Q4EC:42��6=�8CFA@�56�AC@46D25@�56�=2�D6T2=�6D�6=�4@C2KV?�56�E@5@�6=�D:DE6>2�6?�Q=� D6� C62=:K2?� =2D�>6K4=2D�56� =2D�5:G6CD2D�6?EC252D�J�D6�AC@46D2� =2�D6T2=�2F5:@��J�6=�8CFA@�56�D2=:52D2>A=:7:42� =2� D6T2=� 6=Q4EC:42� A2C2� 4@?G6CE:C=2� 6?� 6?6C8R2� 24WDE:42�� =2D� 6E2A2D� 56� A@E6?4:2� J� =@D� 2=E2G@46D7@C>2?�6DE6�W=E:>@�8CFA@

%!-�#�*����#&*��!)�,!+&*�?�4F2=BF:6C�D:DE6>2�56�D@?:5@��?@D�92==2>@D�4@?�EC6D�5:DE:?E@D�?:G6=6D�@A6C24:@?2=6D�56�=2�D6T2=�2F5:@��D:?5:DA6?D23=6� ?@� 4@?7F?5:C� F?@D� 4@?� @EC@D� 2=� 6764EF2C� 6=� 4@?6I:@?25@�� A@C� 6DE@� ?@� D6CP� F?2� >2=2� :5624@=@42C�2=8W?�E:A@�56�5:DE:?4:V?�BF6�A6C>:E2�5:DE:?8F:C�F?@D�56�@EC@D��4@>@�A@C�6;6>A=@�5:76C6?E6D�4@=@C6D�6?=@D�423=6D�@�>2C42D�6?�=@D�4@?64E@C6D

�� +�"��� # �'%�%$/����?�6DE@D�4:C4F:E@D�D6�:?4=FJ6?�=2D�D2=:52D�56�=@D�>:4CV7@?@D�@�56�=2D�A2DE:==2D�56�=2D8F:E2CC2D�6=Q4EC:42D�#@D�G2=@C6D�6?�6DE6�?:G6=�D@?�>FJ�32;@D��J�AC64:D2?�D6C�2>A=:7:425@D�6?�G@=E2;6�2?E6D�566764EF2C�4F2=BF:6C�@EC2�@A6C24:V?�#@D�G2=@C6D�56�F?�4:C4F:E@�6?�6DE6�?:G6=�G2?�56 ����5�>�2 � ��5�>

�� +�"� ��� "/$���� �DE6� ?:G6=� :?4=FJ6� =2D� D2=:52D� 56� =@D� E64=25@D� 6=64ECV?:4@D�� =2D� D2=:52D� 56� =2� >6D2� 56>6K4=2D�� J� E2>3:Q?� =2�>2J@CR2� 56� 6?EC252D� J� D2=:52D� 56� =@D� AC@46D25@C6D� 56� D6T2=� 2F5:@� �4@>AC6D@C6D�>F=E:6764E@D��6E4���D�6=�?:G6=�56?EC@�56=�4F2=�D6�6764EW2?�=2�>2J@C�A2CE6�56�@A6C24:@?6D�4@?�=2�D6T2=�2F5:@��JD6�6IE:6?56�56D56�=@D � ��5�>�2�=@D�����5�>

�� +�"������'��� *6�EC2E2�56�4:C4F:E@D�6?�=@D�BF6�4:C4F=2�=2�D6T2=�J2�2>A=:7:4252�6?�A@E6?4:2�A@C�=2D�6E2A2D��J4FJ2�W?:42�>:D:V?�6D� ==682C�2� =@D�2=E2G@46D�#@D�G2=@C6D�2�6DE6�?:G6=�6DEP?�D:6>AC6�A@C�6?4:>2�56� =@D����5�>

�?� F?� 4:C4F:E@� 56� >:4C@7@?R2� 4:C4F=2� F?2� D6T2=� 4@?� F?� G@=E2;6� >FJ� C65F4:5@�� DFD46AE:3=6� 56� DF7C:C:?E6C76C6?4:2D�56�5:G6CD@D�@CR86?6D�'@C�6==@�6D�AC646AE:G@�EC232;2C�4@?�423=6D�32=2?4625@D�BF6�6G:E6?�6DE@DAC@3=6>2D�D�4@?G6?:6?E6��E2>3:Q?��BF6�=@D�423=6D�BF6�EC2?DA@CE2?�5:DE:?E@D�?:G6=6D�?@�EC2?D4FCC2?�6?�A2C2=6=@��4@?�6=7:?�56�6G:E2C�A@D:3=6D�:?E6C76C6?4:2D�6?EC6�F?@D�J�@EC@D

*!*+�$�*����'&+�%�!��'�)��#���$'#!�!���!O%�$,*!��#'2C2�4=2C:7:42C�4@>@�7F?4:@?2?�6DE@D�D:DE6>2D��J�2?2=:K2C�=2�2A=:424:V?�ACP4E:42�56�4252�6=6>6?E@��AF656�D6C:=FDEC2E:G@�D68F:C�=2�4@?DE:EF4:V?�ERA:42�56�F?�D:DE6>2�56�A@E6?4:2�4@>@�6=�6DBF6>2E:K25@ 6?�=2�7:8FC2� �=�8CFA@�56�6?EC252D�6DEP�4@>AF6DE@�A@C�=@D�>:4CV7@?@D�56�G@46D�J�56�=2�32E6CR2��J�A@C�=2D�D6T2=6D�5:C64E2DAC@>:?6?E6D�56�=2D�8F:E2CC2D��6=�32;@�6=Q4EC:4@�J�=@D�E64=25@D��=�C24<�56�6764E@D�56=�8F:E2CC2�D@=:DE2�E2>3:Q?7@C>2� A2CE6� 56=� 8CFA@� 56� 6?EC252D�� J2� BF6� 6DE6� C24<� 4@?7@C>2� 6=� D@?:5@� 56=� :?DECF>6?E@� 2?E6D� 56� D6C6?G:25@�924:2�=2�>6D2�56�>6K4=2D��=�>6K4=25@C�BF6�AF656�FE:=:K2C�6=�E64=:DE2�E2>3:Q?�6DEP�:?4=F:5@�6?�6DE68CFA@��2F?BF6�DF�7F?4:V?�6D�4@>A=6>6?E2C:2�4@?�=2�>6D2�56�>6K4=2D�46?EC2=+@52D�=2D�D6T2=6D�D6�5:C:86?�924:2�=2�>6D2�2�EC2GQD�56�423=6D��:?56A6?5:6?E6D�@��4@>@�6D�>PD�7C64F6?E6�A@C� F?2�>2?8F6C2�>F=E:7:=2C� #2D� D2=:52D� 2FI:=:2C6D� 56� =2�>6D2� D6� 5:DA@?6?� A2C2� 6?G:2C� =2D� D6T2=6D� BF65632?�D6C�AC@46D252D�924:2�6=�C24<�5:DAF6DE@�2=�6764E@��BF6�C68C6D2?�2�=2�>6D2�A@C�=@D�C6E@C?@D�56�2FI:=:2C#2�D6T2=�BF6� :CP�2�>@?:E@C6D�J� =2�BF6�D6�5:C:8:CP�924:2� =@D�5@D�8CFA@D�56�2=E2G@46D�AC:?4:A2=6D�6D�6?G:25256D56�F?2�W?:42�>6D2�=� 8CFA@� 56� D2=:52� AC:?4:A2=� 4@?E:6?6� F?� 64F2=:K25@C� 8CP7:4@� D68F:5@� 56� F?� D:DE6>2� 56� 5:G:D@C6D� 567C64F6?4:2D� �252� 8CFA@� 56� 7C64F6?4:2D� D6� 6?GR2� 924:2� F?2� @�>PD� 6E2A2D� BF6� 2>A=:7:42?� 6?� A@E6?4:2� =2D6T2=��BF6�7:?2=>6?E6�6D�4@?G6CE:52�6?�G:3C24:@?6D�D@?@C2D�A@C�>65:@�56�=@D�2=E2G@46D�C6DA64E:G@D#2D� D6T2=6D� BF6� D6� 6?GR2?� 924:2� =@D�>@?:E@C6D� 56� 6D46?2C:@� D6� E@>2?� 56D56� =@D� 6?GR@D� 2�>@?:E@C� BF6AF652�E6?6C�=2�>6D2��@�56D56�=2D�D2=:52D�2FI:=:2C6D�AC6�7256C�#@D�6?GR@D�AC6�7256C�D@?�=@D�>PD�2564F25@DJ2� BF6� A6C>:E6?� 6=� 4@?EC@=� D6A2C25@� 56� =2� D6T2=� BF6� D6� 5:C:86� 924:2 =@D� >@?:E@C6D� �'@C� >65:@� 56=A@E6?4:V>6EC@�56�6?GR@�924:2�6=�8CFA@�2FI:=:2C���J�924:2�6=�D:DE6>2�AC:?4:A2=��'@C�>65:@�56=�7256C�56=�42?2=��252�D6T2=�56�>@?:E@C�6D�2>A=:7:4252�A@C�F?2�6E2A2�5:DE:?E2�BF6�2=:>6?E2�F?@�@�5@D�2=E2G@46D��AC6G:2>6?E6D6�AF656�:?D6CE2C�6?�=2�=R?62�2=8W?�AC@46D25@C��=:>:E25@C��AF6CE2�56�CF:5@�@�4@>AC6D@C��J�F?�64F2=:K25@C�?� =2D� 7:8FC2D� �� J� �� D6� AF656� G6C� 6=� 6DBF6>2� 56� F?� D:DE6>2� 56� A@E6?4:2� A2C2� 5:C64E@D� 56� 8C2?56D5:>6?D:@?6D�+@52D�=2D�D6T2=6D�56=�8CFA@�56�6?EC252D�D@?�5:C:8:52D�924:2�=2�42;2�56�4@?64E@C6D���5@?56�D65:G:56?�6?�5@D��,?2D�D6�6?GR2?�924:2�=2�>6D2�56�>@?:E@C6D�J�@EC2D�924:2�=2�>6D2�AC:?4:A2=��=�C6AC@5F4E@C�565:D4@D�4@>A24E@D�J�6=�56�42DD6EE6D�E2>3:Q?�7@C>2?�A2CE6�56=�8CFA@�56�6?EC252D��2F?BF6�923:EF2=>6?E6�D64@=@42?�2=�=25@�56�=2�>6D2�AC:?4:A2=��J�D6�FE:=:K2?�A2C2�=@D�7@?5@D�>FD:42=6D�2?E6D�J�56DAFQD�56=�4@?4:6CE@+@52D�=2D�D6T2=6D�==682?�92DE2�=2�>6D2�AC:?4:A2=���:8������5@?56�AF656?�D6C�AC@46D252D�>65:2?E6�=@D�C24<DBF6�D6�D:EW2?�2�DF�=25@�#2�>6K4=2�7:?2=�D6�6?GR2�A@C�=2�D2=:52��>2DE6C��924:2�=@D�64F2=:K25@C6D�8CP7:4@D��4252F?@�56�=@D�4F2=6D�D:CG6�A2C2�>@56=2C�=2�D6T2=�BF6�D6�5:C:86�924:2�4252�8CFA@�56�D2=:52

�?� =2D� 7:8FC2D� �� J� �� D6� AF656� G6C� 6=� 6DBF6>2� 56� F?� D:DE6>2� 56� A@E6?4:2� A2C2� 5:C64E@D� 56� 8C2?56D5:>6?D:@?6D�+@52D�=2D�D6T2=6D�56=�8CFA@�56�6?EC252D�D@?�5:C:8:52D�924:2�=2�42;2�56�4@?64E@C6D���5@?56�D65:G:56?�6?�5@D��,?2D�D6�6?GR2?�924:2�=2�>6D2�56�>@?:E@C6D�J�@EC2D�924:2�=2�>6D2�AC:?4:A2=��=�C6AC@5F4E@C�56

5:D4@D�4@>A24E@D�J�6=�56�42DD6EE6D�E2>3:Q?�7@C>2?�A2CE6�56=�8CFA@�56�6?EC252D��2F?BF6�923:EF2=>6?E6�D64@=@42?�2=�=25@�56�=2�>6D2�AC:?4:A2=��J�D6�FE:=:K2?�A2C2�=@D�7@?5@D�>FD:42=6D�2?E6D�J�56DAFQD�56=�4@?4:6CE@+@52D�=2D�D6T2=6D�==682?�92DE2�=2�>6D2�AC:?4:A2=���:8������5@?56�AF656?�D6C�AC@46D252D�>65:2?E6�=@D�C24<DBF6�D6�D:EW2?�2�DF�=25@�#2�>6K4=2�7:?2=�D6�6?GR2�A@C�=2�D2=:52��>2DE6C��924:2�=@D�64F2=:K25@C6D�8CP7:4@D��4252F?@�56�=@D�4F2=6D�D:CG6�A2C2�>@56=2C�=2�D6T2=�BF6�D6�5:C:86�924:2�4252�8CFA@�56�D2=:52

�?� =2� 7:8FC2� ���� D6� 92� DFAF6DE@� BF6�6=� D:DE6>2�56� D2=:52� 5636�2=:>6?E2C� D:6E6� 8CFA@D�56�2=E2G@46D�� EC6D8CFA@D�AC:?4:A2=6D� �:KBF:6C52��56C6492�J�46?EC@��� EC6D�8CFA@D�4@>A=6>6?E2C:@D�BF6�4F3C6?� =2D�K@?2D�56� =22F5:6?4:2�5@?56�6=�D@?:5@�56�=@D�8CFA@D�AC:?4:A2=6D�?@�==682�4@?�32DE2?E6�7F6CK2��J�6=�8CFA@�56�DF38C2G6D,?2�D6T2=�>@?@7V?:42�6D�6?G:252�56D56�=2�4@?D@=2�AC:?4:A2=�A2C2�DF�64F2=:K24:V?��BF6�D6CG:CP�56�32D6�A2C2E@52D� =2D�D2=:52D�56=� D:DE6>2�#2�D2=:52�56�6DE6�64F2=:K25@C� ��� =2� :KBF:6C52�56� =2� 7:8FC2�� D6�5:G:56�6?� EC6D6?GR@D��F?@�56� =@D�4F2=6D�2=:>6?E2�6=�4C@DD@G6C�J� =2D�6E2A2D�56=�8CFA@�AC:?4:A2=�56�2=E2G@46D�56=�46?EC@��J@EC@�D6�5:C:86�924:2�6=�8CFA@�56�DF38C2G6D��=�E6C46C�C2>2=�D6�5:C:86�924:2�=@D�@EC@D�8CFA@D��4252�F?@�56�=@D4F2=6D� ==6G2�DF�AC@A:@�64F2=:K25@C��@>@�6D�6G:56?E6� =@D�8CFA@D�AC:?4:A2=�J�4@>A=6>6?E2C:@�56� =2�56C6492D6CP?� 2=:>6?E25@D� 4@?� =2� D2=:52� >2DE6C� 56=� =25@� 56C649@�� J� =@D� 8CFA@D� 56=� =25@� :KBF:6C5@� 4@?� DF� D2=:524@CC6DA@?5:6?E6

�?�=2�7:8FC2�����D6�AF656�@3D6CG2C�=2�4@>A@D:4:V?�56�F?�D:DE6>2�56�>@?:E@C6D�:?56A6?5:6?E6�#2D�D6T2=6D�2=2�>6D2�==682?�56D56�=2��42;2�56�4@?64E@C6D�56=�6D46?2C:@�&3DQCG6D6�=2D�?F>6C@D2D�D2=:52D�BF6�E:6?6�F?2>6D2�56�>@?:E@C6D��4252�F?2�56�=2D�4F2=6D�D6�5:C:86�924:2�F?�DV=@�2=E2G@K�6?�A2CE:4F=2C���?�2=8F?@D�42D@D6D�6?G:252�924:2�5@D�2=E2G@46D���252�D2=:52�4@>AC6?56�F?�64F2=:K25@C��8CP7:4@��4FJ2�>:D:V?�6D�C65F4:C�6?=@�A@D:3=6�=2�C62=:>6?E24:V?�24WDE:42�6?�6=�6D46?2C:@��=F68@�F?2�6E2A2�56�A@E6?4:2��J�7:?2=>6?E6�6=�2=E2G@K�56>@?:E@C

��"�*�����&%�/!&%��&+@5@D�=@D�423=6D�BF6�EC2?DA@CE2?�=2�D6T2=�2F5:@�6?�F?�6D46?2C:@�D6�4@?64E2?�2�F?2D�42;2D��56?EC@�56�6DE2D42;2D� =2�D6T2=�D6�5:G:56�6?�5@D� C2>2=6D��F?@�56�6==@D�D6�5:C:8:CP�924:2� =2�>6D2�AC:?4:A2=�J�6=�@EC@�924:2� =2>6D2�56�>@?:E@C6D�*6�EC2E2CP�56�F?�EC2?D7@C>25@C�56�D6T2=�@�5:G:D@C�4@?�F?2�C6=24:V?�=� �:G:5:C� =2� D6T2=� ?@� C6AC6D6?E2� ?:?8W?� AC@3=6>2� 6DA64:2=�� J� 6DE@� D6� C62=:K2� ?@C>2=>6?E6� >65:2?E6� 6=4@?6I:@?25@� 6?� A2C2=6=@� 56� =@D� 423=6D� BF6� =2� EC2?DA@CE2?� '2C2� 6G:E2C� 4F2=BF:6C� E:A@� 56� 4@CE@4:C4F:E@� 6D4@?G6?:6?E6��?@ @3DE2?E6��FE:=:K2C�EC2?D7@C>25@C6D�5:G:D@C6D�BF6�2RD=6?�=2�D6T2=�BF6�D6�5:C:86�924:2�F?2�>6D256�=2�BF6�D6�5:C:86�924:2�=2�@EC2���:8FC2����,E:=:K2?5@�6DE6�E:A@�56�42;2D�A2C2�6=�4@?6I:@?25@�D6�4@?D:8F6�F?2AC@E644:V?� 6764E:G2� 4@?EC2� A@D:3=6D� CF:5@D� A2CPD:E@D�� @42D:@?25@D� A@C� F?� � 567:4:6?E6� 2:D=2>:6?E@� 6?� =@D4@?5F4E@C6D� 56� =2� D6T2=� +2>3:Q?� D6� 6G:E2� BF6�� 2� 42FD2�56�2=8F?2�4@?6I:V?�567:4:6?E6�� 4F2=BF:6C�>WD:4@DF7C2�F?�D9@4<�6=Q4EC:4@�2=�E@42C�F?�>:4C@��J2�BF6�=2�42;2�4F6?E2�4@?�F?2�E@>2�56�E:6CC2��DR�>:D>@�A6C>:E6BF6�=2�2=:>6?E24:V?��A92?E@>��AF652�==682C��4F2?5@�9282�72=E2��2=�>:4CV7@?@�AC64:D@��J2�BF6�6=�4:C4F:E@�6?EC6=2�D2=:52�>:4C@7V?:42��J� =2�6?EC252�2� =2�>6D2��'@C�5@?56�D6�6?GR2�6DE2�4@CC:6?E6�56�2=:>6?E24:V?��?@�DF7C6?:?8F?2�CFAEFC2

#2D� 42;2D� A2C2� 6=� 4@?6I:@?25@� 56� 6D46?2C:@� A@D66?� 6?EC6� �� J� �� EC2?D7@C>25@C6D�� 2D@4:25@D� 2� DFD4@?64E@C6D�C6DA64E:G@D��J�DF�2DA64E@�7RD:4@�2A2C646�6?�=2�7:8FC2��

&EC@�E:A@�56�42;2D�A2C2�4@?6I:@?6D�BF6�D6FE:=:K2� ?@C>2=>6?E6�� D@?� =@D� 42;6E:?6D��:C64E� �@I��� J� BF6� D:CG6?� A2C2� 4@?G6CE:CF?2� D6T2=� D:?� 32=2?462C� 6?� D6T2=32=2?46252��DE@D�42;6E:?6D�D6�4@=@42?�2==25@� 56=� :?DECF>6?E:DE2� BF6� =@D� G2� 2?646D:E2C�� J� 4@?64E2� 2� 6==@D� =2� D2=:52� 56D6T2=�56�DF�:?DECF>6?E@��BF6�DF6=6�D6C�D:?32=2?462C� >65:2?E6� F?� 4@?64E@C� ;24<� �=42;6ER?���:C64E��@I��EC2?D7@C>2�6DE2�D6T2=6?� F?2� D6T2=� 32=2?46252�� J� E2>3:Q?A6C>:E6� 6D4@86C� 5:G6CD@D� ?:G6=6D� 562E6?F24:V?� A2C2� =2� D6T2=�� 4F2?5@� 9282

72=E2��J�6?�2=8F?@D�>@56=@D�A6C>:E6�256>PD�24E:G2C�F?�7:=EC@�A2D232;@D�?�=2�7:8FC2���A@56>@D�G6C�F?�6DBF6>2�56�4@>@�7F?4:@?2?�=@D�42;6E:?6D�EC2?D7@C>25@C6D�56�=R?62��J�6?���DF�2DA64E@�7RD:4@�'2C2�A@56C�@A6C2C��6DE@D�42;6E:?6D�AC64:D2?�56�4@CC:6?E6�4@?E:?F2��BF6�=6D�6D�DF>:?:DEC252A@C�F?2�A:=2�4@=@4252�6?�6=�>:D>@�4F6CA@�56=�42;6ER?

�#����#���&�6� E@5@D� =@D�4@>A@?6?E6D�BF6� 7@C>2?�A2CE6�56�F?�D:DE6>2�56�A@E6?4:2� =@D�423=6D�4@?5F4E@C6D�D@?��42D:D:6>AC6�� =@D�BF6�E:6?6?�F?�4@DE6�>PD�32;@�%@�@3DE2?E6�6=�4@?E2C�4@?�F?�423=625@�2564F25@�J�6?�3F6?2D4@?5:4:@?6D� 6D� :>AC6D4:?5:3=6� A2C2� BF6� E@5@� 6=� D:DE6>2� @A6C6� 4@CC64E2>6?E6� #2� >2J@CR2� 56� CF:5@DA2CPD:E@D�� AQC5:52D� 56� D6T2=�� J� 72==@D� 6?� 2=8W?� 4:C4F:E@�� D@?� 563:5@D� 2� F?� 423=625@� 567:4:6?E6� @� 2� F?@D4@?64E@C6D�6?�>2=�6DE25@#2D� 4F2=:5256D� 7RD:42D�� E2=6D� 4@>@� =2� 7=6I:3:=:525�� =2� C6D:DE6?4:2� 2� =2� 7C:44:V?�� =2� 42=:525� 56� =@D� 7:=2>6?E@DFD25@D�� @� 6=� C6G6DE:>:6?E@� 56=� 423=6� E:6?6?� F?2� :>A@CE2?4:2� ?@E23=6�'6C@� =2D� 4F2=:5256D�6=64ECV?:42D� 56=423=6�� 4@>@� D@?� DF� 42A24:525� 56� 42C82�� C6D:DE6?4:2� 6=Q4EC:42�� @� 42A24:E2?4:2�� E2>3:Q?� D@?� � :8F2=>6?E6:>A@CE2?E6D�D�56=� E@5@� :>AC6D4:?5:3=6�A@56C�5:DE:?8F:C�� 2�AC:>6C2�G:DE2��6=� ?:G6=�56�D6T2=�BF6�AF656�4:C4F=2C�A@C�4252423=6�6?�4@?4C6E@�)64@C56>@D�BF6�6?�F?�D:DE6>2�56�A@E6?4:2�D6�AF656?�5:DE:?8F:C� EC6D�?:G6=6D�56�D6T2=�D6T2=�56�>:4C@��D6T2=�56�=R?62��J�D6T2=�56�42C82��J�BF6�4252�?:G6=�5636�EC232;2C�4@?�6=�423=625@�2564F25@�:DA@?6C�BF6�4252�?:G6=�56�423=625@�E6?82��A@C�6;6>A=@��F?@D�4@=@C6D�5:DE:?E@D�BF6�A6C>:E2?�5:DE:?8F:C=@D�6D�F?2�>65:52�:?E6=:86?E6�BF6�29@CC2�E:6>A@�J�AC@3=6>2D�6?�6=�>@?E2;6#@D�423=6D�BF6�5636?� EC2?DA@CE2C� =2�D6T2=�56=�>:4C@�@�56� =R?62�D6�4@>A@?6?�56� =2�>2==2�J�56�F?@�@�5@DG:G@D�� F?� G:G@� D:� 6D� A2C2� F?2� � 4@?6I:V?� D:?� 32=2?462C� J� 5@D� G:G@D� 6?� =2D� 4@?6I:@?6D�32=2?46252D��?�6=42AREF=@�56�>:4CV7@?@D�D6�6DA64:7:42�4@>@�@A6C2?�=2D�=R?62D�32=2?46252D

�?�2=8F?2�@42D:V?�?@D�A@56>@D�6?4@?EC2C�4@?�BF6�5636>@D�4@?6I:@?2C�F?2�7F6?E6�32=2?46252�4@?�@EC2�D:?32=2?462C��@�2�=2�:?G6CD2��=@D�423=6D�BF6�5636?�D@=52CD6�6DEP?�6DA64:7:425@D�6?�=2�7:8FC2��#@D�423=6D�56�42C82�D@?�=@D�BF6�F?6?�=2D�6E2A2D�56�A@E6?4:2�4@?�=@D�2=E2G@46D��J�DF�4@?DE:EF4:V?�6D�A2C64:522�=@D�423=6D�BF6�EC2?DA@CE2?�=2�4@CC:6?E6�2=E6C?2��F2?5@�F?�423=6�56�42C82�EC2?DA@CE2�=2�D6T2=�2>A=:7:425286?6C2� F?� 42>A@� >28?QE:4@� AC@A@C4:@?2=� 2� =2� :?E6?D:525� 56� 6DE2� D6T2=� *: =2� =@?8:EF5� 56=� 423=6� 6D4@?D:56C23=6�� 92J� F?2� AQC5:52� 6?� 6=� EC2?DA@CE6� 56� =2D� 32;2D� 7C64F6?4:2D�� A2C2� 6G:E2C=@� D6� C64FCC6� 2� =2FE:=:K24:V?�56�423=6D�4@CE@D��J�D6�:?E6?E2�4@=@42C�=2D�6E2A2D�56�A@E6?4:2�2�=2�>6?@C�5:DE2?4:2�A@D:3=6�56�=@D2=E2G@46D�2�=@D�BF6�2=:>6?E2?,?2�5:DE2?4:2�56�F?@D����>6EC@D�6D�=2�>2J@C�BF6�6I:DE6��923:EF2=>6?E6��6?EC6�2>A=:7:425@C6D�J�2=E2G@46D��J2BF6�4@?�6DE2�5:DE2?4:2�=2D�AQC5:52D�42D:�?F?42�DFA6C2?���5��F2?5@�D6�56D66�4@>AC@32C�6=�3F6?�6DE25@�56�F?@D�423=6D�56�4@?6I:V?��6=�>@5@�>PD�CPA:5@�56�9246C=@�6D>65:2?E6�F?�E6DE6C��F?�4@>AC@325@C�>W=E:A=6�A2C2�G@=E2;6D��:?E6?D:525�J�C6D:DE6?4:2D�*6��D:EW2�6=�E6DE6C�6?�=27F?4:V?�56�4@>AC@32C�=2�C6D:DE6?4:2��&9>:@D���J�D6�F?6?�=@D�E6C>:?2=6D�56=�E6DE6C�2�=@D�56=�4@?64E@C�BF6�D6BF:6C2�4@>AC@32C���:8FC2�����=�A2D@�56�4@CC:6?E6�:?5:42CP�6=�3F6?�6DE25@�56=�4@?64E@C��D:�?@�C68:DEC2�?252E6?5C6>@D� BF6� 4@>AC@32C� =2D� @EC2D� E6C>:?2=6D�� J2� BF6� 6D� A@D:3=6� BF6� D6� 92J2� 6764EF25@� F?2� D@=525FC24CFK252+@5@�@A6C25@C��EQ4?:4@�@�:?86?:6C@�56�D@?:5@�563:6C2�E6?6C�D:6>AC6�2�>2?@�F?�E6DE6C�4F2?5@�G2J2�2�C62=:K2CF?2� :?DE2=24:V?�� J2�BF6�256>PD�D6CP�WE:=� A2C2�4@>AC@32C� G@=E2;6D�BF6�?@�D6� � 4@?@46?�� E2?E@�56�4@CC:6?E62=E6C?2�4@>@�56�4@CC:6?E6�4@?E:?F2

���#�*�$,#+!�!#�)�*��$�%�,�)�*��F2?5@�D6�E6?82?�BF6�==6G2C�56D56�6=�6D46?2C:@�92DE2�=2D�>6D2D�� ������ ��@�>PD�=R?62D�56�D6T2=��C6DF=E2A@4@�ACP4E:4@�FE:=:K2C�423=6D�:?5:G:5F2=6D�A2C2�4252�F?2�'@C�@EC2�A2CE6�=2�D6T2=�>2DE6C�56�=2�>6D2�D6�6?GR2924:2�6=�6D46?2C:@��5@?56�DF6=6?�4@=@42CD6�=2D�6E2A2D�56�A@E6?4:2��6DE@�C6BF:6C6�5@D�423=6D�>PD�BF6�4CFK2?3F6?2�A2CE6�56=�C64:?E@��J�56�=@D�BF6�56A6?56�=2�D6T2=�56=�D:DE6>2�AC:?4:A2='2C2� D:>A=:7:42C� 6=� D:DE6>2� 56� 4@?6I:@?25@� D6� FE:=:K2?� 4@>W?>6?E6� =@D� 423=6D�>F=E:7:=2C6D�� 56?@>:?25@D>2?8F6C2D� A@C� DF� D6>6;2?K2� 6IE6C?2� 4@?� 6DE@D� FE6?D:=:@D� 56� C:68@� #@D� 6IEC6>@D� 56� =2D� >2?8F6C2D4@?D:DE6?�6?�F?@D�4@?64E@C6D�>F=E:AF?E2D��BF6�D6�6?C@D42?�2�=2�>6D2�A@C�F?�=25@�J�2�=2�42;2�56�4@?6I:@?6D56=�6D46?2C:@�A@C�6=�@EC@���:8FC2����#2D�>2?8F6C2D�D6�DF6=6?�4@?DECF:C�2�=2�>65:52�56�F?�D:DE6>2��4@?�F?�?W>6C@�56E6C>:?25@�56�6?GR@D�924:2=2� >6D2� J� 4@?� F?@D� 42?2=6D� 56� C6E@C?@� 924:2� 6=� 6D46?2C:@� #2D� ?F>6C@D2D� D6T2=6D� BF6� 4CFK2?� F?2>2?8F6C2�6?�F?�D6?E:5@�J�6?�@EC@�AF656?�AC@G@42C�:?E6C76C6?4:2D�6?EC6�6==2D��BF6�C65F?52?�?682E:G2>6?E66?�=2�42=:525�56=�D:DE6>2��'@C�6DE@�4@?G:6?6�4@?7:2C�6?�6>AC6D2D�6DA64:2=:K252D�J�56�C64@?@4:52�D@=G6?4:2�J2� BF6� F?2�>2?8F6C2�>2=� 4@?DECF:52� D6CP� ?672DE2� A2C2� 6=� D:DE6>2� �DR� A@C� 6;6>A=@�� D:� D6� AC@5F46� F?2C62=:>6?E24:V?�6?�F?2� =R?62� D@3C6� =2D� 2=E2D� 7C64F6?4:2D�� QDE2D� AF656?� D6C� :?2F5:3=6D�� A6C@� 2=� ==682C� 2� =@D2=E2G@46D� 56� 28F5@D� =2D� @D4:=24:@?6D� BF6� AC@G@42� 6DE2� C62=:>6?E24:V?� AF656?� AC@G@42C� DF� 56DECF44:V?7RD:42�F2?5@�D6�6?42C82�=2�4@?DECF44:V?�56�F?2�>2?8F6C2��4@?G:6?6�AC6G6?:C�F?2�A@D:3=6�2>A=:24:V?�56=�D:DE6>2�DR�D:�E6?6>@D����=R?62D�56D56�6=�6D46?2C:@�924:2�=2�>6D2�J�5@D�C6E@C?@D�56�>6D2��AF656�D6C�4@?G6?:6?E66?42C82C�F?2�>2?8F6C2�4@?� ��=R?62D�J�4@?�4F2EC@�C6E@C?@D��A2C2�BF6�6?�F?�7FEFC@�ACVI:>@�?@�D6�?@D�BF6564@CE2 #@�>:D>@�4@?G:6?6�9246C�4@?�=2�=@?8:EF5�56�F?2�>2?8F6C2��D:�D6�AC6GQ�BF6�=2�5:DE2?4:2�?@C>2=�6?EC6=2�42;2�56�4@?6I:@?6D�J�=2�>6D2�6DEP�6?��A@C�6;6>A=@� ��>6EC@D��?@�6DE2CP�>2=�6?42C82C�F?2�>2?8F6C2�56���>6EC@D��A2C2�BF6�6?�F?�A@D:3=6� 7FEFC@�?@�D6�?@D�BF656�4@CE2�A2C2�?F6DEC2D�?646D:5256D��=�AC64:@�56=>6EC@� 56�>2?8F6C2� 6D� 32DE2?E6� 6=6G25@�� A@C� 6==@� 6D�>6;@C� AC6G6?:C� =2D� � A@D:3=6D� 2>A=:24:@?6D� 2?E6D� 566?42C82C=2��J�?@�BF652C?@D�4@CE@D

�&%��+&)�*�=� 4@?64E@C� :562=� 6D� 2BF6=� D6?4:==@� 56� FE:=:K2C�� BF6� ?@� AF656� D6C� 56D6?49F725@� A@C� 244:56?E6�� J� BF6� ?@:?EC@5F46�?:?8F?2�C6D:DE6?4:2�?:�:?E6C76C6?4:2�6?�=2�D6T2=�BF6�EC2?D>:E6��?�C62=:525��J�D68W?�=2�FE:=:525�BF6D6�=6D�56��6I:DE6?�F?@D�4@?64E@C6D�>PD�2AC@A:25@D�BF6�@EC@D�#@D�4@?64E@C6D�BF6�29@C2�D6�6DA64:7:42?��J�=27@C>2�56�4@?6I:@?25@�FE:=:K252��6D�2A=:423=6�2�=@D�?:G6=6D�56�>:4C@7@?R2�J�56�=R?62��6?�6=�42AREF=@�ACVI:>@�D6EC2E2�56�=@D�4@?64E@C6D�FE:=:K25@D�6?�=@D�?:G6=6D�56�42C82

�%$��)%'� ���!� ��� ����� +2>3:Q?� ==2>25@D� 6?49F76D� 56� 7@?@�� 7F6C@?� FE:=:K25@D� @C:8:?2=>6?E6� 6?� =2D46?EC2=:E2D�E6=67V?:42D��J�=F68@�DF�FD@�D6�6IE6?5:V�A2C2�>W=E:A=6D�2A=:424:@?6D��?�=2�7:8FC2����D6�AF656�G6C�6=4@?6I:@?25@�56�6DE6�4@?64E@C��4F2?5@�D6�56DE:?2�2=�EC2?DA@CE6�56�F?2�D6T2=�32=2?46252��+�J�)��+:A�J�):?8�D@?�=@D�4@?5F4E@C6D�56�=2�D6T2=��>:6?EC2D�*��*=66G6��6D�6=�4@?5F4E@C�2�>2D2��DE6�>:D>@�E:A@�56�4@?64E@CD6�FE:=:K2�6?�=@D�6?GR@D�6DE6C6@7V?:4@D��6?�4FJ@�42D@�+�EC2?DA@CE2�=2�D6T2=�56�F?�42?2=�J�)�=2�56=�@EC@

�?� =2� 7:8FC2� � � 92J� F?� 4@?64E@C� ;24<� A2C2� F?2� D6T2=� D:?� 32=2?462C�� BF6� 6D� ?@C>2=>6?E6� FE:=:K25@� 6?� =@D?:G6=6D�56�=R?62��6?�>W=E:A=6D�:?E6C4@?6I:@?6D�6?EC6�=@D�6=6>6?E@D�56�F?�D:DE6>2#@D�4@?64E@C6D�;24<�D@?�64@?V>:4@D�J�7P4:=6D�56�D@=52C�2=�423=625@��A6C@�F?�6DE:CV?�:?G@=F?E2C:@�56=�423=6�2=BF6�6DEP?�F?:5@D�=@D�AF656�56D6?49F72C��J2�BF6�?@�E:6?6?�?:?8W?�E:A@�56�2?4=2;6�BF6�2D68FC6�=2�4@?6I:V?

�%$��)%'� ��� �DE@D� 6?49F76D� D@?� FE:=:K25@D� >2J@C:E2C:2>6?E6� 6?� =@D� 6BF:A@D� 56� 2=E2� 7:56=:525� J� 6?2=8F?@D�D:DE6>2D�56�G:56@��=�4@?5F4E@C�46?EC2=� EC2?DA@CE2� =2�D6T2=�56�2F5:@�>:6?EC2D�BF6�6=�6IE6C:@C�G2�2>2D2��D�F?�4@?64E@C�D6?4:==@�J�D:?�AC@3=6>2D��A6C@�4@?�6=� E:6>A@�AF656�AC6D6?E2C�F?2�4:6CE2� C6D:DE6?4:2563:5@�2�=2�4@CC@D:V?�56�DF�DFA6C7:4:6�56�4@?E24E@��A@C�6DE@�6D�24@?D6;23=6�6D4@86C�>@56=@D�BF6�E6?82?�F?32T@�56�@C@��J�2DR�6G:E2C�=2�A@D:3=6�4@CC@D:V?�56=�4@?64E@C���:8���

�%$��)%'� ���I:DE6?�>W=E:A=6D�G2C:2?E6D�56�6DE6�4@?64E@C��BF6��5FC2?E6�G2C:@D�2T@D�7F6�>FJ�FE:=:K25@�6?2=E2� 7:56=:525��?� =2�24EF2=:525�DF�FD@�D6�92�C64FA6C25@��J2�BF6�D6�92�4@?G6CE:5@�6?�6=�4@?64E@C�6DEP?52CA2C2�=2D�6?EC252D�J�D2=:52D�56�D6T2=6D�G:2�$!�!���:8FC2����

�%$��)%'������DE6�4@?64E@C�6D�E2>3:Q?�4@?@4:5@�4@?�6=�?@>3C6�56��2?@?�J2�BF6�7F6�6DE2�4@>A2TR2�=2BF6� :?EC@5F;@�DF�FD@��I:DE6?�G2C:@D� E:A@D�56�4@?64E@C6D�/#)��A6C@�6=�>PD�FE:=:K25@�6?� E@5@D� =@D�D:DE6>2DAC@76D:@?2=6D� 6D� 6=�/#)���� BF6� 4F6?E2� 4@?� EC6D� AF?E2D���@D�A2C2� =2D� D6T2=6D� 32=2?46252D� J� F?2�A2C2� =2>2==2� @J�6D�6=�4@?64E@C�6DEP?52C�A2C2�=@D�>:4CV7@?@D�J�A2C2�E@52D�=2D�=R?62D�56�EC2?D>:D:V?�32=2?46252D,?2�56�DFD�>2J@C6D�4F2=:5256D�6D�6=�D:DE6>2�56�2?4=2;6�4@?�BF6�6DEP�6BF:A25@��J2�BF6�F?2�G6K�6=�4@?64E@C6DEP�6?49F725@�C6D:DE6�E:C@?6D�J�D24F5:52D�6?�6=�423=6��D:?�BF6�==68F6�2�56D4@?64E2CD6�#2�7:8FC2����>F6DEC2F?�4@?64E@C�/#)�4@?�DFD�C6DA64E:G2D�AF?E2D��=2�?W>6C@�=�D6�4@?64E2�D:6>AC6�2�>2==2��>:6?EC2D�BF6�=2D� �J��4@?5F46?�=2�D6T2=�32=2?46252�56�2F5:@

�%$��)%'� �&��!%$� #2� >2J@CR2� 56� 6E2A2D� 56� A@E6?4:2� J� 42;2D� 24WDE:42D� 56� 5:D6T@� C64:6?E6�� 6DEP?AC6A2C252D�A2C2�A6C>:E:C�6=�4@?6I:@?25@�4@?�=@D�E6C>:?2=6D�E:A@�*A62<@?��DE@D�4@?64E@C6D�6DEP?�A6?D25@DA2C2�EC2?D>:E:C�=@D�6=6G25@D�G@=E2;6D�BF6�4:C4F=2?�6?EC6�=2�D2=:52�56�=2D�6E2A2D�J�=2D�6?EC252D�56�=2D�42;2D��J6DEP?�5:D6T25@D�56�7@C>2�BF6�?@�AF652?�4@?7F?5:CD6�4@?�?:?8W?�@EC@�4@?64E@C#@D�E6C>:?2=6D�*A62<@?�A6C>:E6?�6=�4@?6I:@?25@�D:?�BF6��6?�?:?8W?�>@>6?E@��6=�@A6C25@C�AF652�E@42C�=@D4@?E24E@D�6=Q4EC:4@D��J2�D62�A@C�56D4F:5@�@�A@C�244:56?E6�,?�D:DE6>2�5@3=6�56�DF;64:V?��2D68FC2�=2�D@=:56K56�=2�F?:V?�6?EC6�6=�423=6�4@?5F4E@C�J�=2�6E2A2�@�=2�42;2�24WDE:42�?�=2�7:8FC2�D:8F:6?E6�D6�AF656�G6C�4F2=6D�D@?�=@D�E6C>:?2=6D�BF6�5636?�6?=2K2C�=2�D2=:52�56�=2�6E2A2�4@?�=26?EC252� 56=� 2=E2G@K� $@G:6?5@� 6=� 2C@� ?68C@� 924:2� =2� >:D>2� 5:C644:V?� 56� =2D� 28F;2D� 9@C2C:2D� 6=� 4@?64E@C

BF652CP�7:;25@��J�A2C2�F?2�>2J@C�D68FC:525�92J�BF6�8:C2C��E2>3:Q?�6?�6=�D6?E:5@�BF6�D:8F6?�=2D�28F;2D�56=C6=@;��6=�2?:==@�56�4@=@C�2KF=��@A6C2?5@�2�=2�:?G6CD2�6=�4@?64E@C�BF652CP�=:3C6

,+!#!����')��+!�����#��)&**&-�)+2?E@�=@D�2=E2G@46D�4@>@�=@D�2>A=:7:425@C6D�52?�F?�C6?5:>:6?E@��>2J@C�4F2?5@�EC232;2?�4@?�F?2�82>2�567C64F6?4:2D� A@4@�2>A=:2� #2� FE:=:K24:V?�56� 7:=EC@D�A2D:G@D�6?� =2D�42;2D�24WDE:42D�A2C2�D6A2C2C� 7C64F6?4:2D�9246�BF6�D6�A:6C52�F?2�3F6?2�A2CE6�56�=2�6?6C8R2�BF6�6?EC682�6=�2>A=:7:425@C�BF6�D6�5:D:A2�6?�=2D�3@3:?2D�JC6D:DE6?4:2D�4@?E6?:52D�6?�=@D�7:=EC@D*6�AC64:D2��AF6D��D6A2C2C�6=�6DA64EC@�56�7C64F6?4:2D�6?�8CFA@D�>PD�C65F4:5@D��BF6�F?2�G6K�2>A=:7:425@D�D65:C:;2?�5:C64E2>6?E6�2� =@D�2=E2G@46D��6�QDE2�>2?6C2�D6�4@?D:8F6�F?�C6?5:>:6?E@�>2J@C�J��F?�4@?EC@=�>PD6I24E@�56=�AC@8C2>2�>FD:42=�=�AC:?4:A2=�:?4@?G6?:6?E6�56�6DE6�>QE@5@�6D�F?�2F>6?E@�6?�6=�4@DE6�56=�D:DE6>2��563:5@�2�=2�?646D:525�56:?D6CE2C�5:G:D@C6D�56�7C64F6?4:2D�6?EC6�=2D�D2=:52D�56�=2�>6D2�56�>6K4=2D�J�=@D�2=E2G@46D�'6C@�=2D�G6?E2;2DACP4E:42D� D@?� ?F>6C@D2D�� J� A@C� 6==@� 9@J� 42D:� E@5@D� =@D� D:DE6>2D� 56� A@E6?4:2� FE:=:K2?� =@D� 5:G:D@C6D� 567C64F6?4:2D#2D�G6?E2;2D�AC:?4:A2=6D�BF6�D6�@3E:6?6?�D@?��� '6C>:E6� 6=68:C� =2D� 32?52D� 56� 24EF24:V?� >PD� 2564F252D� A2C2� 4252� � E:A@� 56� 2=E2G@K�� J� E2>3:Q?� =2DA6?5:6?E6D�56�4CF46�6?EC6�=2D��32?52D�BF6�D6�6D4@;2?�� *6� 4@?D:8F6� 6=� >PI:>@� C6?5:>:6?E@� 56=� 2=E2G@K�� C65F4:6?5@� 2=� � >:D>@� E:6>A@� 6=� A6=:8C@� 56D@3C6>@5F=24:@?6D�A@C�7C64F6?4:2D�BF6��6=�2=E2G@K�?@�6DEQ�AC6A2C25@�A2C2�C6AC@5F4:C���2�2=� D:DE6>2�F?2�8C2?� 7=6I:3:=:525�� J2 BF6�?@D�A6C>:E6�6764EF2C�5:G6CD2D�4@>3:?24:@?6D�6?EC6�6E2A2D�J2=E2G@46D��AF5:6?5@�6D4@86C�6?EC6�>W=E:A=6D�4@?7:8FC24:@?6D�BF6�D6�252AE6?�2�?F6DEC2D�?646D:5256D���D�C6=2E:G2>6?E6�D6?4:==@�2;FDE2C�6=�D:DE6>2�A2C2�:?EC@5F4:C��=2D�4@CC644:@?6D�?646D2C:2D�6?�=2�64F2=:K24:V?�56�7@C>2�BF6�D6�252AE6�2�=2D�?646D:5256D�24WDE:42D�56�4252�=@42=��*6�2?F=2� ACP4E:42>6?E6� =2� 5:DE@CD:V?� A@C� :?E6C>@5F=24:V?�� J� D6� � C65F46� =2�5:DE@CD:V?�A@C� EC2?D:E@C:@D�BF6AF652�86?6C2C�=2�6E2A2$F49@D�723C:42?E6D�56�2=E2G@46D�56E2==2?�6?�DFD�AC@5F4E@D�=2�A@E6?4:2�>PI:>2�BF6�AF656?�C64:3:C�J�=2�82>256�7C64F6?4:2D�BF6�>6;@C�AF656?�C6AC@5F4:C�#2�6=644:V?�56�=2�32?52�56�24EF24:V?�56=��4C@DD@G6C�D6�32D2�6?6DE2D�:?7@C>24:@?6D

',%+&*�����&)+��0�)�#��!&%�*��%+)���),'&*�����)��,�%�!�*�?�F?�AC@8C2>2�>FD:42=�@C5:?2C:@�6?�6=�BF6�D6�FE:=:46�=2�>F=E:2>A=:7:424:V?��6D�564:C�=2�5:G:D:V?�56�7C64F6?4:2D2?E6D�56�=2�2>A=:7:424:V?��6D�AC64:D@�6BF:=:3C2C�=2�A@E6?4:2�BF6�D6�2A=:BF6�2�4252�8CFA@�56�7C64F6?4:2D�#2D7C64F6?4:2D�8C2G6D�AC64:D2?�F?2�>2J@C�A@E6?4:2�56�2>A=:7:424:V?�BF6�=2D�>65:2D��J�=2D�7C64F6?4:2D�>65:2D?646D:E2?�>2J@C�A@E6?4:2�BF6�=2D�28F52D��DE@�6D�563:5@�2�BF6�4F2?E@�>PD�32;2�6D�F?2�7C64F6?4:2�D@?@C2�AC64:D2�F?�>2J@C�56DA=2K2>:6?E@�56�2:C6�A2C2�42FD2C�6?�6=�@R5@�F?�?:G6=�6BF:G2=6?E6�56�AC6D:V?�D@?@C2�?�=2�7:8FC2����92J�F?�6DBF6>2�5@?56�D6�4@?E6>A=2�F?�D:DE6>2�EC:2>A=:7:425@��4@?�F?2�C6=24:V?�56� ���6?EC64252�8CFA@�56� 7C64F6?4:2D��DE2�C6=24:V?�6D�F?2�56� =2D�BF6�D6�AF656?�FD2C��A6C@�?@�6D�6G:56?E6>6?E6� =2W?:42�� J2� BF6� E2>3:Q?� D@? 4@>F?6D� C6=24:@?6D�56������� J� 56�������#2D�A@E6?4:2D�BF6�D6�2A=:42?�2�42528CFA@�56A6?56?�3PD:42>6?E6�56�5@D� 724E@C6D��#@D�AF?E@D�56�4@CE6�56=� 4C@DD@G6C� J� =2�24WDE:42�AC@A:2�56=C64:?E@�BF6�D6�D@?@C:46L�V>@�6D4@86C�=@D�AF?E@D�56�4@CE6�>PD�@A@CEF?@D���? F?�D:DE6>2�3:2>A=:7:425@�F?2�7C64F6?4:2�56� �< K6D�32DE2?E6�4@CC64E2�� =2D� 7C64F6?4:2D�A@C�5632;@�56�6DE6�G2=@C�D6�6?GR2?�924:2�F?�8CFA@��J�� =2D�DFA6C:@C6D924:2�6=�@EC@��?�F?�D:DE6>2�EC:2>A=:7:425@� =@D�AF?E@D�56�4@CE6�D6�D:EW2?�6?EC6� =@D�����J� =@D����� K� �A2C2D6A2C2C�6=�8CFA@�56�8C2G6D�J�6=�56�>65:@D���J�6?EC6�=@D� �J�=@D���< K��BF6�D6A2C2�6=�8CFA@�56�>65:@D�56=�56

28F5@D�� �@>@� J2� D6� 92�>6?4:@?25@�� A2C2� 6D4@86C� =@D� G2=@C6D�>PD� 2564F25@D� 6D� AC64:D@� 4@>3:?2C� =224EF24:V?�56=�4C@DD@G6C�4@?�=2D�4F2=:5256D�56�4252�2=E2G@K

&EC@�724E@C�2�E6?6C�6?�4F6?E2�6D�=2�AC@A:2�24WDE:42�56=�C64:?E@�5@?56�D6�24EW2��J2�BF6�92J�=@42=6D�BF6�C62=K2?F?�8CFA@�56E6C>:?25@�56�7C64F6?4:2D��>:6?EC2D�AF656?�23D@C36C�@EC2D�'@C�6DE@�=2�C6=24:V?�6?EC6�4252�8CFA@56� 7C64F6?4:2D� 56�F?�D:DE6>2�?@�D:6>AC6�6D� 7:;@�� 2F?BF6�D6�DF6=6�A2CE:C� 56�F?@D�G2=@C6D�2564F25@D�2� =24@>A@D:4:V?�56=�D:DE6>2��J�D@3C6�=2�>2C492�D6�AF656�>@5:7:42C�A2C2�252AE2C=@�2=�=@42=�5@?56�D6�EC232;6�?�F?�D:DE6>2�EC:2>A=:7:425@�6=�6DA64EC@�56� 7C64F6?4:2D�D6�5:G:56�6?� EC6D�A@D:4:@?6D���:8FC2������?EC6� =@D8C2G6D�J�=@D�>65:@D�?@D�6?4@?EC2>@D�4@?�7C64F6?4:2D�BF6�AF656?�A6C56CD6��2=�:8F2=�BF6�DF4656�4@?�=2�K@?2D:EF252� 6?EC6� =@D� >65:@D� J� =@D� 28F5@D� '@C� 6DE@� 92J� BF6� 6=68:C� F?@D� AF?E@D� 56� 4@CE6� BF6� :>A:52?� =27@C>24:V?�56�K@?2D�56�7C64F6?4:2D�BF6�?@�G2J2?�2�D6C�2>A=:7:4252D

&EC@� 724E@C� BF6� 5636� E6?6CD6� 6?4F6?E2�6D� =2�A6?5:6?E6�56=� 4@CE6�� =2C2A:56K� 56� =2� 42R52� 4@?� BF6� D66=:>:?2?� =2D� 7C64F6?4:2D� ?@56D6252D��?�>F49@D�7:=EC@D�24E:G@D6DE2D� A6?5:6?E6D� AF656?6D4@86CD6�� 4@?� G2=@C6D� BF6� G2?�56=@D���5��92DE2�=@D� ��5���DE6�2;FDE66DEP� 6?� 7F?4:V?� 56� =@D� AF?E@D� 564@CE6�� 4FP?E@� >PD� 46C42� D66?4F6?EC2?� 6?EC6� D:� >2J@C� 6D� =2A6?5:6?E6� BF6� D6� C6BF:6C6�� J� >PD28C6D:G@�6=�D@?:5@�@3E6?:5@��4F2?5@=@D� AF?E@D� 56� 4@CE6� 6DEP?5:DE2?4:25@D� 32DE2?E6� �'@C� 6;6>A=@F?2�@4E2G2�� D6�AC64:D2� EC232;2C�4@?F?2� A6?5:6?E6� >FJ� 32;2�� 56� �5�@4E2G2�� BF6� 52� 2=� D@?:5@� F?42CP4E6C�>PD�DF2G6�BF6�6=�56=�42D@

2?E6C:@C-62>@D�F?�6;6>A=@�ACP4E:4@�56�4V>@�3FD42C� =@D�AF?E@D�56�4@CE6�J� =2D A6?5:6?E6D�>PD�2564F252D�56�F?D:DE6>2�56�A@E6?4:2�'2C2�6==@�?@D�C6>:E:>@D�2�=2�7:8FC2�����=�>2E6C:2=�4@?�BF6�D6�4F6?E2�A2C2�4252�42?2=6D��� �@D� 2=E2G@46D� 56� ���� BF6� 25>:E6?� F?2� A@E6?4:2� 56� ���� .� 4252� � F?@� 2� �� @9>:@D�� DF� C6DAF6DE2� 6?7C64F6?4:2D�6D���� K ���� K�� �@D� 2=E2G@46D� 56� ���� BF6� 25>:E6?� F?2� A@E6?4:2� 56� ���� .� 4252� � F?@� 2� �� @9>:@D�� DF� C6DAF6DE2� 6?7C64F6?4:2D�G2�56���� K�2�����< K���F2EC@�EH66E6CD�56����BF6�25>:E6?����.�4252�F?@�2���@9>:@D�� �4FJ2�C6DAF6DE2�6?�7C64F6?4:2D�G2�56��< K�2 ���< K

#2D�6E2A2D�56�A@E6?4:2�?646D2C:2D�A2C2�4252�8CFA@��D:�D6�56D62��4@?E2C�4@?�F?�D:DE6>2�EC:2>A=:7:425@�D6CP?���?�32;2D�7C64F6?4:2D�����������.��?�7C64F6?4:2D�>65:2D�����������.��?�2=E2D�7C64F6?4:2D�����������.

'2C646�>PD�=V8:4@�BF6�D6�6D4@8:6C2?�6E2A2D�56�� ����� ��.�A2C2�=2D�7C64F6?4:2D�>65:2D��J�56����������.�A2C2� =2D�2=E2D��J�2DR�6D��A6C@�?@C>2=>6?E6� =2D�A@E6?4:2D�?@>:?2=6D�56�=2D�6E2A2D�E:6?6?�=@D�G2=@C6D�6?H2E:@D�BF6�D6�:?5:42?�6?�6=�6;6>A=@-:DE2D� =2D� 42C24E6CRDE:42D� 56=� 6BF:A@� D6� 6D4@86?� =@D� AF?E@D� 56� 4@CE6� 56� =@D� 7:=EC@D� 24E:G@D�� BF6�>FJ� 3:6?AF656?�D6C���?EC6�32;@D�J�>65:@D������ K��?EC6�>65:@D�J�2=E@D����< K

�@?� 6DE@D� G2=@C6D� D6� 4@?D68F:CP� BF6� =@D� 2=E2G@46D� J� 6E2A2D� EC232;6?� 4@?� F?@D� =R>:E6D� 4@CC64E@D� J� F?C6?5:>:6?E@�D2E:D724E@C:@,?2�A6?5:6?E6�56�� �5�@4E2G2��4@>@�G2=@C�AC@>65:@��AF656�AC@32CD6�2=�AC:?4:A:@��J� =F68@�6D� :?E6C6D2?E66?D2J2C�4@?�@EC@D�G2=@C6D��92DE2�6?4@?EC2C�6=�D@?:5@�BF6�>PD�?@D�A=2K42

�&%+)&#��!)���!&%�#����#&*��#+�-&��*�F2?5@� D6� AC@4656� 2=� >@?E2;6� 56� F?� D:DE6>2� 56� A@E6?4:2�� 92J� 5@D� 4F6DE:@?6D� 3PD:42D� BF6� 5636>@D9246C?@D��2>32D�C676C6?E6D�2�=2D�4F2=:5256D�BF6�5636�E6?6C�6=�D:DE6>2��L�FP=�6D�6=�?:G6=�56�AC6D:V?�D@?@C2BF6�D6�6DA6C2�@3E6?6C��J�4FP=�6D�=2�82>2�56�7C64F6?4:2D�BF6�923CP�BF6�C6AC@5F4:C�*:� D6� EC2E2�56�2>A=:7:42C�F?�8CFA@�56� :?DECF>6?E@D�24WDE:4@D�� =2� C6DAF6DE2�6?� 7C64F6?4:2D�5636CP�232C42C56D56�=@D���� K�92DE2�=@D����@����< K��>:6?EC2D�BF6�6=�?:G6=�56�AC6D:V?�D@?@C2�C6BF6C:5@�6DE2CP�6?�E@C?@�2=@D����5��F2?5@�D6�2>A=:7:BF6�F?2�32?52�56�C@4<�� =2� C6DAF6DE2�56=�D:DE6>2�5636CP�6DE2C�6?EC6� =@D���� K�J� =@D�� < K�� D:� 3:6?� F?2� >2J@C� 6IE6?D:V?� A@C� =2D� 2=E2D� 7C64F6?4:2D� D:6>AC6� G2� 3:6?� #2� AC6D:V?� D@?@C2� BF6� 6=D:DE6>2�5636�6?EC682C�D6�D:EW2�2=C6565@C�56�=@D�����5�+6?6C�32;@�4@?EC@=� =2�5:DA6CD:V?�D@?@C2�56�F?�D:DE6>2�6D�56=� E@5@�?646D2C:@�A2C2�@3E6?6C�F?�2=E@�?:G6=�5642=:525�6?�6=�6BF:A@�56�2>A=:7:424:V?��?�AC:>6C�=F82C�A2C2�BF6�E@52�=2�2F5:6?4:2�C64:32�6=�D@?:5@�4@?�F?2

:?E6?D:525� J� F?2� 42=:525� 6BF:G2=6?E6�� D:?� BF6� 92J2� =F82C6D5@?56� D6� 6D4F496� 56>2D:25@� 7F6CE6� @� 56>2D:25@� 7=@;@�0� 6?D68F?5@� =F82C��A@CBF6�DV=@�4@?46?EC2?5@� E@52� =2�A@E6?4:2�56=D:DE6>2� D@3C6� 6=� PC62� 5@?56� D6 6?4F6?EC2� 6=� AW3=:4@2AC@G6492C6>@D�A=6?2>6?E6�DFD�4F2=:5256D�?�=2�7:8FC2���2�D6�AF656�G6C�=2�7@C>24:V?�BF6 D6�24@DEF>3C22� FE:=:K2C� A2C2� 4@?D68F:C� F?� 3F6?� P?8F=@� 56� 5:DA6CD:V?9@C:K@?E2=�#2D�42;2D�24WDE:42D� 7@C>2?�F?�A6BF6T@�2C4@��4FJ@P?8F=@�A@5CP�G2C:2C�6?�7F?4:V?�56�=2�D:EF24:V?�56=�AW3=:4@�J�56=P?8F=@�56�4@36CEFC2�56� =@D�2=E2G@46D�#2�4@36CEFC2�G6CE:42=�56

F?� D:DE6>2� 4@?� 6DE2� 5:DA@D:4:V?� 6D� =2� >:D>2� BF6� A@D66:?5:G:5F2=>6?E6�4252�42;2�?� 6=� 5:3F;@� ��3� D6� >F6DEC2� =2� 7@C>2� 56� 2F>6?E2C� =24@36CEFC2� G6CE:42=� 56� F?� D:DE6>2� 56� A@E6?4:2�� 5@?56� 425242;2�2AF?E2�924:2�F?�AF?E@�D:EF25@�2�F?2�2=EFC2�5:DE:?E2��?=2 7:8FC2����D6�>F6DEC2�=2�5:DA@D:4:V?�ACP4E:42�56�F?2D�42;2DDFDA6?5:52D�� AC6A2C252D�A2C2� 232C42C�F?�2>A=:@�2F5:E@C:@�J2�BF6�DF�4@36CEFC2�9@C:K@?E2=�J�G6CE:42=�6D�>FJ�2>A=:2�D� >FJ� :>A@CE2?E6� E6?6C� >FJ� AC6D6?E6� =2D� 4F2=:5256D3PD:42D� 56� =@D� C64:?E@D� 24WDE:4@D� BF6� D6� FE:=:K2?�� J2� BF6AC6D6?E2?� 4=2C2D� 5:76C6?4:2D� 6?� =@� C676C6?E6� 2� DF4@>A@CE2>:6?E@�5:C644:@?2=#@D�C64:?E@D�4@>A24E@D���:8� ���==6G2?�E@5@D�DFD�2=E2G@46D6?�F?�>:D>@�A=2?@��J�>F49@D�FE:=:K2?�F?2�D2=:52�32DD�C67=6IA2C2� >6;@C2C� DF� C6DAF6DE2� 6?� =2� K@?2� 56� =2D� 32;2D7C64F6?4:2D� *F6=6?� D6C� 7P4:=6D� 56� EC2?DA@CE2C� J� 2A:=2C�� A@C6==@�D@?�=2D�42;2D�>PD�FE:=:K252D�A2C2�>W=E:A=6D�2A=:424:@?6D6?�5:C64E@

#@D�C64:?E@D�6IA@?6?4:2=6D���:8� ���DF6=6?�AC6D6?E2CD66?�4@?;F?E@D�>@5F=2C6D��6D�564:C�4@>AF6DE@D�56���V��F?:5256D�� 4252� F?2� 56� =2D� 4F2=6D� EC232;2� A2C2� F?2D7C64F6?4:2D� 5:DE:?E2D� #2D� F?:5256D� 56� >65:@D� J� 568C2G6D� ==6G2?� 2=E2G@46D� 56� 3@4:?2�� BF6� AC@A@C4:@?2?F?2� 8C2?� AC6D:V?� 24WDE:42� J� F?� P?8F=@� 56� 5:DA6CD:V?32DE2?E6� 2>A=:@� '@C� 4@?EC2� E6?6>@D� 2� DF� A6D@� JE2>2T@�� BF6� =2D� 9246� 5:7R4:=6D� A2C2� 6=� EC2?DA@CE6� J� 6=>@?E2;6

#@D� C64:?E@D� 4@?� D:DE6>2� 56� AC@J644:V?� �EFC3@�� D65:76C6?4:2?� 56� =@D� @EC@D� C64:?E@D� A@C� DF� P?8F=@� 56

AC@J644:V?�6?�=2D�7C64F6?4:2D�>65:2D�,?�5:7FD@C�4@=@425@�56=2?E6�56�=2�>6>3C2?2�56=�2=E2G@K�AC@G@42�F?6DEC6492>:6?E@� 56� =2� G:3C24:V?�D@?@C2�� 4F2?5@�QDE2�J2�92�D:5@�AC@5F4:52�A@C� =2�>6>3C2?2��DE@�A6C>:E6

6?G:2C� 6=� D@?:5@� 2>2J@C� 5:DE2?4:2� BF6F?� 2=E2G@K4@?G6?4:@?2=�� A6C@

C65F4:6?5@?@E23=6>6?E6� DFP?8F=@� 56� 5:DA6CD:V?BF6�A2D2�56�F?@D���V����8C25@D�2����V���8C25@D� �DE@DC64:?E@D� 52?� F?D@?:5@�>FJ�A2CE:4F=2C�2AC@A:25@� A2C2� 6=C@4<��92C5��A6C@�A@4@4@?G:?46?E6� A2C2� =2>WD:42� 24WDE:42� @

A2C2�F?�C@4<�>PD�6DE:=:K25@&EC@�724E@C�BF6�E2>3:Q?�4@?G:6?6�E6?6C�AC6D6?E6��6D�=2�4@>3:?24:V?�BF6�D6�AF656�6>A=62C�6?�=@D�8CFA@D�56C64:?E@D� 24WDE:4@D�� C676C6?E6� 2� =2D� 7C64F6?4:2D� BF6�6?GR2?�%@�6I:DE6?�F?2D�?@C>2D�AC64:D2D�A2C2�6==@�� D:3:6?� 6=� 3F6?� 4C:E6C:@� ?@D� ==6G2� 2� :?E6C42=2C=2D� 6?EC6� D:�� A2C2� BF6� E@5@D� =@D� 8CFA@D� 56� � 7C64F6?4:2D� 6DEQ?AC6D6?E6D� 6?� 4F2=BF:6C� AF?E@� 56� =2� K@?2� 56� 2F5:6?4:2� �?� =2� 7:8FC2� �2� D6� >F6DEC2� =2� 4@>3:?24:V?� 56C64:?E@D�FE:=:K252�6?�F?�D:DE6>2�DFDA6?5:5@�56=� E649@��4@>A=6>6?E25@�4@?� =2D�42;2D�24WDE:42D�D:EF252D�2==25@�56=�6D46?2C:@�� �3�

�#+�-&��*����)��,�)1&�?�2=8F?@D�=@42=6D�5@?56�D6�C62=:K2?�4@?4:6CE@D��J�563:5@�2�DF�AC@A:2�6DECF4EFC2��F?�A@C46?E2;6�56=�AW3=:4@?@� C64:36�6=�D@?:5@�4@?� =2�4=2C:525�6� :?E6?D:525�BF6�563:6C2�#2�5:DE2?4:2�6I46D:G2�6?EC6� =2D�4@=F>?2D�562=E2G@46D� J� =2� 2F5:6?4:2�� @� 3:6?� =2� 6I:DE6?4:2� 56� @3DEP4F=@D� 7RD:4@D� AF656?� D6C� =@D� >@E:G@D� 56� 6DE2568C2524:V?�D@?@C2�'2C2�D@=G6?E2C�6DE@D�AC@3=6>2D�D6�FE:=:K2?�=@D�2=E2G@46D�56�C67F6CK@�24WDE:4@

-62>@D�6=�5:28C2>2�56�=2�7:8FC2� �2��=@D�2D:6?E@D�56�=2�AC:>6C2�7:=2�D6�6?4F6?EC2?�2����56=�6;6�56�=2D�42;2D24WDE:42D��BF6�:?4:56�5:C64E2>6?E6�D@3C6�=@D�2D:6?E@D�56�=2�W=E:>2�7:=2�#2�C6DAF6DE2�2�=2D�32;2D�7C64F6?4:2D4F2?5@�D6�6DEP�D:EF25@�2����56=�6;6�56=�2=E2G@K�DF6=6�D6C�32DE2?E6�4@CC64E2��A6C@�6?� =2D�2=E2D� 7C64F6?4:2DD:6>AC6�D6�C68:DEC2�F?2�AQC5:52�4@?D:56C23=6��BF6�@D4:=2�6?EC6���J����5��A@C�5632;@�56�=2�C6DAF6DE2�BF6�D6C64:36� 6?� 6=� 6;6� *6� EC2E2� AF6D� 56� F?2� AQC5:52�>FJ� 4@?D:56C23=6�� 6� � :?25>:D:3=6� 56D56�6=� AF?E@� 56� G:DE2>FD:42=

#2�D@=F4:V?�AF656�G6CD6�6?� =2� 7:8FC2� �3��J�4@?D:DE6�6?� =2�4@=@424:V?�56�F?�2=E2G@K�56�C67F6CK@��6?7@425@924:2�=2�K@?2�BF6�6=�D:DE6>2�AC:?4:A2=�56�2=E2G@46D�?@�4F3C6�DF7:4:6?E6>6?E6��DE6�2=E2G@K�2FI:=:2C�D6�56DE:?22� 4F3C:C� =2D� 7C64F6?4:2D� 2=E2D� J� >65:@�2=E2D�� J2� BF6� D@?� QDE2D� =2D� 7C64F6?4:2D� BF6� C68:DEC2?� F?2� >2J@CAQC5:52�4F2?5@�=2�2F5:6?4:2�6DEP�=6;@D�56=�6;6�56�AC@J644:V?�D@?@C2

&EC2�4:C4F?DE2?4:2�BF6�AF656�52CD6�6D�=2�BF6�C67=6;2�=2�7:8FC2� ���5@?56�6=�D@?:5@�BF6�6>2?2�56�=2D�42;2DAC:?4:A2=6D�6D�:?E6C46AE25@�A@C�F?2�6DECF4EFC2�DV=:52�'2C2�D@=G6?E2C=@�D6�4@=@42�6=�2=E2G@K�56�C67F6CK@�6?�F?=F82C�BF6� =6�A6C>:E2�4F3C:C�E@52�=2�K@?2�2764E252��?�6DE6�42D@��?@�@3DE2?E6��D6CP�?646D2C:@�BF6�6=�D@?:5@BF6� 6>2?6� 56=� 2=E2G@K� 2FI:=:2C� E6?82� F?� C6E2C5@� C6DA64E@� 2� =2D� 42;2D� AC:?4:A2=6D� �D� AC64:D@� 42=4F=2C� =25:DE2?4:2�BF6�92J�6?EC6�=@D�2=E2G@46D�AC:?4:A2=6D�J�=@D�2FI:=:2C6D��J�FD2C�6DE2�7VC>F=2�A2C2�4@?@46C�6=�E:6>A@56�C6E2C5@�BF6�D6�2A=:42CP�2�=@D�2=E2G@46D�2FI:=:2C6D�

�������������)6E2C5@��6?�>:=:D68F?5@D�� ���:DE2?4:2��6?�>6EC@D� ������������������������������������������������������������������������������������>D*:� =2� 5:DE2?4:2� 6?EC6� =2D� 42;2D� AC:?4:A2=6D�J� =2D�56� C67F6CK@�6D��A@C�6;6>A=@��56����>6EC@D��6=� C6E2C5@�BF6923CP�BF6�2A=:42C�D6CP�56�

�������> ��������� ���>:=:D68F?5@D����>D

*:�?@�D6�FE:=:K2C2�6DE6�C6E2C5@�6?�=@D�2=E2G@46D�56�C67F6CK@��6=�D@?:5@�BF6�AC@4656�56�6DE@D�2=E2G@46D�==682CR2 ��� >:=:D68F?5@D� 2?E6D� BF6� 6=� D@?:5@� AC@4656?E6� 56� =@D� 2=E2G@46D� AC:?4:A2=6D�� @42D:@?2?5@� F?� 32CF==@24WDE:4@�4@?D:56C23=6��?� =2�7:8FC2� ��6DEP�6DBF6>2E:K25@�F?�4:C4F:E@�56�C6E2C5@�2A=:425@�2�F?�D:DE6>2�562=E2G@46D�56�C67F6CK@

+&$�*����+!�))��?�4F2=BF:6C�@A6C24:V?�6?�=2�BF6�6I:DE6�EC2?D>:D:V?�56�F?2�D6T2=�56�2F5:@��6I:DE6�=2�A@D:3:=:525�56�BF6�6DE2D6T2=� D6� G62� 2764E252� A@C� 5:G6CD@D� E:A@D� 56� 4@CC:6?E6D� :?5F4:52D�� 6>:D:@?6D� 56� C25:@7C64F6?4:2D�4@?>FE25@C6D�6=64ECV?:4@D��=R?62D�56�4@CC:6?E6�2=E6C?2��6E4'@C�6DE6�>@E:G@� =@D�423=6D�56=�4:C4F:E@�56�>:4C@7@?R2��2DR�4@>@� =@D�56� =R?62�� ==6G2?�F?2�>2==2�4FJ2�>:D:V?AC:?4:A2=�6D�=2�56�C64@86C�6DE2D�:?E6C76C6?4:2D�56�@C:86?�6=64EC@>28?QE:4@��A2C2�=F68@�2A2CE2C=2D�56�=2�D6T2=56�2F5:@�EC2?DA@CEP?5@=2D�924:2�>2D2#2D�5:76C6?4:2D�56�A@E6?4:2=�BF6�92J�6?EC6�=@D�5:DE:?E@D�?:G6=6D�56�G@=E2;6��BF6�4@>A@?6?�4F2=BF:6C�D:DE6>256�2>A=:7:424:V?�AC@76D:@?2=��AF656?�42FD2C�F?2�56D42C82�6=Q4EC:42�D:�A@C�56D4F:5@�@�244:56?E6�2A2C646�F?4@?E24E@�72=D@�252� 4:C4F:E@� 5636� E6?6C� DFD� AC@A:2D� 4@?6I:@?6D� 2� >2D2�� D:6?5@� 724E:3=6� F?:C� 6?� F?2� D@=2� E@>2� G2C:@D6=6>6?E@D�56=�D:DE6>2��A6C@�D:?�>6K4=2C�5:DE:?E@D�?:G6=6D�56�4:C4F:E@D�*:�D6�F?6?�2�>2D2�6?�F?�>:D>@�AF?E@4:C4F:E@D�4@?�5:DE:?E@�?:G6=��6D�>FJ�A@D:3=6�BF6�2A2C6K42?�KF>3:5@D��D6A2C2?5@�=2D�4@?6I:@?6D�2�>2D2�A@C?:G6=6D� A@56>@D� 9246C� BF6� 6DE6� CFR5@� 56D2A2C6K42� )64@C56>@D� BF6� 6I:DE6?� 6?� 4F2=BF:6C� D:DE6>2� 562>A=:7:424:V?�=@D�D:8F:6?E6D�?:G6=6D�56�G@=E2;6��>:4C@7@?R2��=R?62��J�42C82�?�4F2=BF:6C�42D@�6D�56�DF>2�:>A@CE2?4:2��A2C2�=2�D68FC:525�7RD:42�56�>WD:4@D�J�EQ4?:4@D��2:D=2C�>65:2?E6F?2�E@>2�56�E:6CC2�=2�4@CC:6?E6�2=E6C?2�BF6�AC@G:6?6�56�=2�C65�6=Q4EC:42�F2=BF:6C�6BF:A@�6=Q4EC:4@�AC64:D2�56�5@D�423=6D�A2C2� EC232;2C�4@?�4@CC:6?E6�2=E6C?2��F?@�6=��G:G@��J�@EC@�6=�?6FEC@�� �?� 6=� 42D@� 56� BF6� 92J2� 2=8W?� 72==@� 6?� 6=� 4:C4F:E@� 56� F?� D:DE6>2� 56� 2>A=:7:424:V?�� =2� 4@CC:6?E66=Q4EC:42�E:6?56�2�3FD42C�=2�7@C>2�>PD�CPA:52�56�==682C�2�E:6CC2��J�2�>6?F5@�6=�42>:?@�>PD�4@CE@�AF656�D6C�6=4F6CA@�56=�AC@A:@�@A6C25@C�,D2?5@�F?�E6C46C�423=6�BF6�6DEQ�4@?64E25@�2�=@D�492D:D�56�=@D�6BF:A@D��6?�42D@56�72==@�6=Q4EC:4@�=2�4@CC:6?E6�56C:G2�924:2�E:6CC2�2�EC2GQD�56=�423=6��J�?@�2�EC2GQD�56�?F6DEC@�AC@A:@�4F6CA@�=�423=6�BF6�5636�D6C�4@?64E25@�2�=2�E@>2�56�E:6CC2�DF6=6�D6C�3:4@=@C��J�6=�EQ4?:4@�ACF56?E6�5636�6I:8:C��A2C24F2=BF:6C� C64:?E@� 5@?56� 6=� D:DE6>2� 56� A@E6?4:2� G2J2� 2� @A6C2C�� BF6� 5:DA@?82� 56=� AC646AE:G@� D:DE6>2� A2C26764EF2C� =2� E@>2�56� E:6CC2�'2C2�6==@� D6�4F6?E2�4@?�F?2�32CC2�56 >6E2=�BF6� E:6?6�BF6�6DE2C�9F?5:52�6?�6=DF6=@��2�=2�BF6�D6�F?6�6=�423=6�4@CC6DA@?5:6?E6�BF6�BF652�=:3C6�2=�6764EF2C�=2�4@?6I:V?�2�=2�C65#@D�423=6D�BF6�F?6?�6=�4:C4F:E@�6=Q4EC:4@�4@?�=2�E@>2�56�E:6CC2�5636?�D6C�56�4@3C6�>24:K@��3:6?�AC@E68:5@DA@C� F?2� 4F3:6CE2� 2:D=2?E6��F2?5@� G2C:@D� 4@?5F4E@C6D� 6764EW2?� =2� 7F?4:V?�56� E@>2�56� E:6CC2�� D:6>AC6�BF6AC@G6?82?� 56� F?� >:D>@� ?:G6=� 56=� 4:C4F:E@�� AF656?� F?:CD6� 6?� F?2� W?:42� =R?62� 56� E:6CC2� ��:8FC2� ��� #24@?6I:V?� 56� =@D� 4@?5F4E@C6D� D64F?52C:@D� 4@?� =2� =R?62� 56� E:6CC2� AC:?4:A2=� 5636� 6764EF2CD6� 6?C@==2?5@� =@D423=6D�D64F?52C:@D�4@?�=2�=R?62�AC:?4:A2=��D@=52?5@�4@?�D@=:56K�6DE2�F?:V?#2D� =R?62D� 56� 4@?6I:V?� 4@?� E:6CC2� 5636?� 6DE2C� :?:?E6CCF>A:52D� 92DE2� 6=� AF?E@� 56� =2� F?:V?� 4@?� =2� 32CC2>6EP=:42��6>A=62?5@�F?�7:=2>6?E@�D:?�4@CE6D��?�42D@�56�CFAEFC2�D6CP�AC64:D@�42>3:2C�E@5@�6=�423=6�@�3:6?AC@4656C�2�F?2�DV=:52�D@=525FC2�56�=@D�5@D�6IEC6>@D

�&%�/!O%���)���F2?5@� D6� G2� 2� 4@?64E2C� 6=� D:DE6>2� 56� 2>A=:7:424:V?� 2� =2� C65� 6=Q4EC:42� 6D� A@D:3=6� 6?4@?EC2C?@D� 4@?� F?224@>6E:52�BF6�EC2?DA@CE2�F?�G@=E2;6�DFA6C:@C�2=�BF6�D6�C6BF:6C6��?�6764E@��>F49@D�AF?E@D�AC6A2C25@D�A2C2=2� E@>2�56�6?6C8R2�6=Q4EC:42�5:DA@?6?�56�4F2EC@�423=6D�4@?5F4E@C6D��BF6� EC2?DA@CE2?�4@CC:6?E6� EC:7PD:42�56����-��>:6?EC2D�BF6�A2C2�6=�D:DE6>2�56�D@?:5@�6D�>FJ 923:EF2=�FE:=:K2C�F?2�4@CC:6?E6�56� ��-�4@?�F?2�72D6'C:>6C@�6D�AC64:D@�5:DE:?8F:C�4FP=�56�=@D�423=6D�4@?5F4E@C6D�6D�6=�?6FEC@�#2�5:76C6?4:2�56�E6?D:V?�6?EC6�=@D423=6D�BF6�EC2?DA@CE2?�=2D�5:DE:?E2D�72D6D�56�4@CC:6?E6�2=E6C?2�D:6>AC6�6D�=2�?@>:?2=������-�6?�6DE6�42D@��A6C@�=2�5:76C6?4:2�56�E6?D:V?�6?EC6�4F2=BF:6C2�56�6DE@D�4@?5F4E@C6D�J�6=�?6FEC@�6D�:8F2=�2=�4@4:6?E6�6?EC6�6=G@=E2;6�?@>:?2=�J� =2� C2RK�4F25C252�56���*:�6=�G@=E2;6�6?EC6� 72D6D�6D�56�����-�� =2� E6?D:V?�BF6�923CP�6?EC64F2=BF:6C�4@?5F4E@C�56�4@CC:6?E6�56�72D6�J�6=�?6FEC@�D6CP�56� ��-���:8FC2� ��#@D�423=6D�56=�?6FEC@�D@?�@C5:?2C:2>6?E6�56�4@=@C�2KF=�@�?68C@��DR�BF6�A2C2�4@?64E2C�F?�D:DE6>2�56�D@?:5@BF6�@A6C6�2� ��-�4@?�F?2� =R?62�56�����-� �J2�D62�3:7PD:42�@� EC:7PD:42��32DE2CP�F?:C�F?@�56� =@D�423=6D�2=?6FEC@�J�6=�@EC@�2�4F2=BF:6C�4@?5F4E@C�56�72D6

�?� 4F2=BF:6C� 42D@�� 6D� >FJ� WE:=� A2C2� ?F6DEC2� D68FC:525� J� A2C2� =2� :?E68C:525� 56=� D:DE6>2� 4@?E2C� 4@?� F?4@?>FE25@C�5:76C6?4:2=��F?:5@�2� =@D�423=6D�BF6� E@>2?� =2�4@CC:6?E6�56� =2� C65�,?�4@?>FE25@C�?@D�A6C>:E:CP

4@?64E2C� @� 56D4@?64E2C� =2� 2=:>6?E24:V?� 6=Q4EC:42� 56=� D:DE6>24F2?5@�D62�AC64:D@��J�E2>3:Q?�4@?@46C�6?�4F2=BF:6C�>@>6?E@�6=G2=@C� C62=� 56� =2� E6?D:V?� BF6� D6� C64:36� '@C� @EC@� =25@�� 6=EC2?D7@C>25@C� 56� 2:D=2>:6?E@� BF6� ==6G2?� :?4@CA@C25@� 6DE@D4@?>FE25@C6D���:8� ���D6A2C2�6=�4:C4F:E@�6=Q4EC:4@�56=�6BF:A@�562>A=:7:424:V?� 56=� C6DE@� 56� =2� C65� 6=Q4EC:42� �DE@� 6D�>FJ� WE:=� 6?42D@� 56� BF6� D6� AC@5FK42� 2=8W?� 4@CE@4:C4F:E@�� *:?� 6DE6EC2?D7@C>25@C� =2� 4@CC:6?E6� 6=Q4EC:42� A@5CR2� A2D2C� A@C� 6=� 4F6CA@56�2=8F?2�A6CD@?2�BF6�6DEFG:6C2�6?�4@?E24E@� 7RD:4@�4@?�2=8F?2A2CE6�56=�D:DE6>2�56�2>A=:7:424:V?��4@?�C6DF=E25@D�=6E2=6D

+M�%!��*������'+��!O%�$!�)&�&%!���F2?5@� D6� D:EW2� =2�>:4C@7@?R2� A2C2� F?� D:DE6>2� 56� A@E6?4:2� 6?� 5:C64E@�� 5636?� 56� E6?6CD6� 6?� 4F6?E2� 5@D724E@C6D�3PD:4@D���=� >@56=@� 56=� >:4CV7@?@� E:6?6� BF6� D6C� 6=� >PD� 2564F25@� A2C2� � 42AE2C� 6=� D@?:5@� A2CE:4F=2C� 56� 4252:?DECF>6?E@�#2� 5:DE2?4:2� J� 6=� P?8F=@� 6?EC6� 6=� >:4C@� J� =2� 7F6?E6� D@?@C2� E6?5CP?� F?2� :?7=F6?4:2� 564:D:G2� 6?� 6=� D@?:5@@3E6?:5@�?�AC:?4:A:@��=2�5:DE2?4:2�6?EC6�6=�>:4CV7@?@�J�6=�:?DECF>6?E@�BF6�5632�42AE2C�D6CP�>FJ�C65F4:52��DE2�6D�F?2ACP4E:42�4@>W?�6?�=@D�D:DE6>2D�56�2>A=:7:424:V?�6?�5:C64E@��4@?�6=�7:?�56�C65F4:C�=2D�A@D:3:=:5256D�56�BF6�D6AC@5FK42� C62=:>6?E24:V?� 24WDE:42� 6?� 6=� 6D46?2C:@� �@?� 6=� >:D>@� 7:?� D6� AC@4FC2� BF6� 6=� >:4C@� 6?7@BF65:C64E2>6?E6�924:2�=2�7F6?E6�D@?@C2��2AC@G6492?5@�2=�>PI:>@�=2�6?6C8R2�D@?@C2�BF6�56DAC6?56#2�A@42�5:DE2?4:2� BF6� DF6=6� 9236C� 6?EC6� 6=� :?DECF>6?E@� J� 6=�>:4C@�5636�D6C� E6?:52�6?�4F6?E2�� J2�BF6� =@D>:4CV7@?@D� 4@?� 42C24E6CRDE:42D� 5:C644:@?2=6D� AC6D6?E2?� 6=� 6764E@� 56� AC@I:>:525�� BF6� 6?72E:K2� =2D� 32;2D7C64F6?4:2D��=�>WD:4@� J�6=� @A6C25@C�56� =2�>6D2� E6?5CP?�6?�4F6?E2�6DE6�6764E@�� 4@CC:8:6?5@�>65:2?E6� =@D4@?EC@=6D�56�E@?@�@�2=8W?�D:DE6>2�56�7:=EC@D�6DE6�56D6BF:=:3C:@�E@?2='F656�9236C� 2=8F?@D� 42D@D�� ?@� @3DE2?E6�� 6?� BF6� D62� 4@?G6?:6?E6� D:EF2C�6=�>:4C@�2�4:6CE2�5:DE2?4:2�56� =27F6?E6�D@?@C2�+2>3:Q?�AF656�AC6D6?E2CD6�6=�42D@�6?�BF6�92J2�BF6�>@5:7:42C�6=�P?8F=@�56��42AE24:V?��A2C2@3E6?6C�F?2�E@?2=:525�4@?4C6E2�56�2=8W?�:?DECF>6?E@��?�2>3@D�42D@D�D6CP�AC64:D@�6IEC6>2C�6=�4@?EC@=�56=D:DE6>2�56�>@?:E@C6D�56�6D46?2C:@��C65F4:6?5@�DF�A@E6?4:2�56�D2=:52�6?�=@D�2=E2G@46D�46C42?@D�2=�>:4CV7@?@6?�4F6DE:V?��J�EC232;2?5@�4@?�EC2?D5F4E@C6D�>FJ�5:C644:@?2=6D-62>@D� 29@C2� 2=8F?2D� 7VC>F=2D� 56� EC232;@� BF6� AF656?� D6C� 56� 2JF52�� A2C2� >6;@C2C� =2� 4@=@424:V?� J� 6=C6?5:>:6?E@�56�=2�>:4C@7@?R2�6?�F?�D:DE6>2�56�2>A=:7:424:V?�6?�G:G@�

�%��(�� �D� >FJ� 4@>W?� BF6� =@D� 42?E2?E6D� D6� BF6;6?� 4F2?5@� 6D4F492?� DF� AC@A:2� G@K� 2� F?� G@=F>6?56>2D:25@�32;@�A@C� =@D�2=E2G@46D�56�>@?:E@C��F2?5@�D6� :?E6?E2�:?4C6>6?E2C�6DE6�G@=F>6?�6D�A@D:3=6�BF62A2C6K42� =2� E6>:52� C62=:>6?E24:V?� 24WDE:42�� BF6� :>A:56� 4F2=BF:6C� 2;FDE6� 6?� 6DE6� D6?E:5@� *:EF2C� F?64F2=:K25@C�8CP7:4@��A2C2�4@CC68:C�=2�D6T2=�56�=2 G@K��2?E6D�56�=2�6E2A2�J�6=�2=E2G@K�56�>@?:E@C��AF656�D6C�WE:=*6CP�AC64:D@�C65F4:C�=2�82?2?4:2�56�=2D�7C64F6?4:2D�BF6�@C:8:?6?�=2�2A2C:4:V?�56�=2�C62=:>6?E24:V? �AC@32?5@=@D� 4FCD@C6D� 56=� 64F2=:K25@C� F?@� 2� F?@�� 92DE2� BF6� =2� C62=:>6?E24:V?� 56D2A2C6K42�� J =F68@� D6� A@5CP:?4C6>6?E2C�6=�G@=F>6?�BF6�D6�2A=:42�2=�2=E2G@K�56=�>@?:E@C

,?�D:DE6>2�56�AC@3252�67:424:2��BF6�A6C>:E6�2=�42?E2?E6�6D4F492CD6�A@C�=@D�>@?:E@C6D�2�F?�3F6?�G@=F>6?�6D�FE:=:K2?5@�5@D�2=E2G@46D�56�>@?:E@C�BF6�C64:36?�=2�>:D>2�D6T2=��A6C@�4@?�=2�A@=2C:525�@AF6DE2�'2C2�6==@D6�:?G:6CE6?�=@D�423=6D�BF6�==6G2?�=2�D6T2=�56D56�=2�6E2A2�2�F?@�56�=@D�2=E2G@46D��E6C>:?2=6D�C@;2�J�?68C2���JD6�D:EW2�6=�>:4CV7@?@�6?�F?�=F82C�6BF:5:DE2?E6�56�=@D�5@D�2=E2G@46D���:8�����#2D�@?52D�D@?@C2D�BF6�DFC86?56�=@D�5@D�2=E2G@46D�D6�2?F=2?�6?EC6�D:�4F2?5@�==682?�2=�>:4CV7@?@��J2�BF6�D6�6?4F6?EC2?�6?�72D6�@AF6DE2��J2DR�?F?42�AF656?�42FD2C�C62=:>6?E24:V?�'@C�=@�>6?@D�QDE2�6D�=2�E6@CR2��J2�BF6�6?�=2�ACP4E:42�6DE2�2?F=24:V?A@C�4@?EC272D6�?@�6D E2?�A6C764E2��A6C@�D:�6D�DF7:4:6?E6�A2C2�6G:E2C�6=�24@A=6�24WDE:4@��D:6>AC6�J�4F2?5@�6=>:4CV7@?@�?@�D6�>F6G2�56�DF�6>A=2K2>:6?E@

�* )�''�(� ��1() ��(� *:� 3:6?� G2C:@D� >WD:4@D� AC67:6C6?� FE:=:K2C� >:4C@D� 56� 4@?E24E@� 4@?� DFD� 8F:E2CC2D�� 6=C6?5:>:6?E@� 5:?P>:4@� 56� QDE@D� ?@� DF6=6� 9246C� ;FDE:4:2� 2� =2� C:BF6K2� 56� 2C>V?:4@D� BF6� 86?6C2� 6DE6:?DECF>6?E@�#@D�>:4CV7@?@D�56�6=64EC6E�J�56�4@?56?D25@C�D@?�=@D�>PD�:?5:425@D�A2C2�C64@86C�6=�D@?:5@�56=2D�8F:E2CC2D�24WDE:42D��4@?�E@5@D�DFD�>2E:46D

�=� D@?:5@� BF6� C64@86� 6=� >:4C@� 56� F?2� 8F:E2CC2� G2CR2� ?@E23=6>6?E6� D68W?� 6=� =F82C� 5@?56� D6� 4@=@42� 6=>:4CV7@?@��J�6D�4@?G6?:6?E6�AC@32C�6=�D@?:5@�BF6�D6�42AE2�56D56�5:G6CD@D�P?8F=@D��6D4@8:6?5@�6=�BF6�>6;@CC6DF=E6��?�4F2=BF:6C�42D@�5636�9236C�F?2�5:DE2?4:2�>R?:>2�6?EC6�6=�>:4C@�J�=2�8F:E2CC2�56����4>D��D:6?5@AC676C:3=6�4@=@42C=@�F?�A@4@�>PD�=6;@D+@5@�6DE@�AF656�42FD2C�AC@3=6>2D�56�C62=:>6?E24:V?�24WDE:42�D:�6=�>WD:4@�FE:=:K2�F?�>@?:E@C�4@?G6?4:@?2=�A@C�6DE6�>@E:G@�>F49@D�:?DECF>6?E:DE2D�FE:=:K2?�2FC:4F=2C6D�A2C2�>@?:E@C:K2C�DF >WD:42��=�FD@�56�2FC:4F=2C6DE:6?6�@EC2�G6?E2;2��J�6D�BF6�6=�8F:E2CC:DE2�AF656�2=6;2CD6�56=�>:4C@�D:�@J6�56>2D:25@� 7F6CE6�DF� :?DECF>6?E@C6DA64E@�2�=@D�@EC@D��@�246C42CD6�2�Q=�D:�DF6?2�56>2D:25@�5Q3:=�C6DA64E@�2=�4@?;F?E@

�* )�''�(� �".�)' ��(� #@D� >:4CV7@?@D� 5:?P>:4@D�� 4@?� 42C24E6CRDE:42D� 42C5:@:56D�� D@?� =@D�>PD� 2564F25@DA2C2�42AE2C�6=�D@?:5@�56=�4@>3@�BF6�2>A=:7:42�2�=2�8F:E2CC2�6=Q4EC:42�=�D:DE6>2�>PD�923:EF2=�6D�4@=@42?5@�6=�>:4C@�2�F?�A2=>@�56=2?E6�56=�2=E2G@K���:8FC2������6�QDE2 7@C>2�D6C6D2=E2�6=�3C:==@�J�=2�567:?:4:V?�56=�D@?:5@�6>:E:5@�A@C�=2�8F:E2CC2�?�2=8F?@D�42D@D�6=�D@?:5@�AF656�BF652C�A@4@�4@?D:DE6?E6��4@?�A@4@�4F6CA@��4F2?5@�DF4656�QDE@�2=8F?@DEQ4?:4@D�@AE2?�A@C�4@=@42C�6=�>:4C@�6?�=2�A2CE6�EC2D6C2�56=�4@>3@��4F2?5@ QDE6�E:6?6�=2�236CEFC2�EC2D6C2��DRD6� =@8C2� F?� D@?:5@� >PD� C65@?5@�� 4@?� >6;@C� G@=F>6?�� 2F?BF6� AF656� BF652C� 72=E@� 56� 567:?:4:V?�� >6?@D3C:==2?E6

,?2�D@=F4:V?� :?E6C6D2?E6�6D� =2�BF6�D6�>F6DEC26?� =2� :=FDEC24:V?� � �� 6?� =2� BF6� D6� FE:=:K2?� 5@D>:4C@D�A2C2�42AE2C�6=�D@?:5@�56� =2�8F:E2CC2�4@?E@52�DF�A=6?:EF5�*:�D6�@AE2�A@C�6DE2�5:DA@D:4:V?�92J� BF6� E6?6C� =2� AC642F4:V?� 56� :?G6CE:C� =2� 72D656� =2� D6T2=�BF6�AC@G6?82�56=�>:4C@�D:EF25@�6?=2� A2CE6� A@DE6C:@C�� J2� BF6� =2� D6T2=� BF6� 42AE26DEP�6?� 72D6�@AF6DE2�4@?� =2�D6T2=�42AE252�A@C6=�>:4C@�D:EF25@�56=2?E6�56=�4@>3@#2D�>:D>2D�:?5:424:@?6D�5252D�A2C2�=2�8F:E2CC26=Q4EC:42�D@?�GP=:52D�4F2?5@�D6�EC2E2�56�F?�32;@6=Q4EC:4@

$()'*#�$)%(� ��� + �$)%� ,?� AC@72?@� AF656DFA@?6C� BF6� E@5@� 6=� D@?:5@� BF6� 6>:E6� F?:?DECF>6?E@�56�G:6?E@�AC@4656�56�=2�236CEFC2��@3@42� 56=� :?DECF>6?E@� 6?� 4F6DE:V?�� A6C@� =2C62=:525�?@�6D� E2?�D6?4:==2��=�D@?:5@�56�G2C:@D:?DECF>6?E@D�56�G:6?E@�D6�6D42A2��E2>3:Q?��A@C=@D� 28F;6C@D� BF6� 4@?E:6?6�� 4F2?5@� =2D� 4=2G6DD@?�=6G2?E252D�0�6?�>F49@D�E:A@D�56�7=2FE2D�6=D@?:5@� BF6� AC@4656� 56� =2� 3@BF:==2� E:6?6� E2?E2:>A@CE2?4:2� 4@>@� 6=� BF6� D2=6� A@C� =2� 3@42� 56=:?DECF>6?E@'@C�E@5@�6DE@��6=�6>A=2K2>:6?E@�J�6=�P?8F=@�BF6E6?82� 6=� >:4CV7@?@� 2=� 42AE2C� 6=� D@?:5@� 56� F?:?DECF>6?E@� 56� G:6?E@� D6CP� 56E6C>:?2?E6�� J2BF6� E6?5CP� F?2� :?7=F6?4:2� 564:D:G2� 6?� =2E@?2=:525�J�6=�E:>3C6�56=�D@?:5@�@3E6?:5@�DR��A2C2�42AE2C�=2D�7=2FE2D��6=�6;6�56=�>:4C@�6DEP

5:C:8:5@�2� =2�A2CE6�46?EC2=�56=�4F6CA@�56=� :?DECF>6?E@��A2C2�BF6�6=�D@?:5@�56� =2�3@BF:==2�J�56� =2�236CEFC2�56D2=:52�6DEQ?�AC6D6?E6D�A@C�:8F2=�*:�D6�56D62�@3E6?6C�F?�D@?:5@�>PD�28C6D:G@��6=�6;6�56=�>:4CV7@?@�D6�2AF?E2924:2�6=�28F;6C@�56�=2�3@BF:==2'2C2�6=�D2I@7V?�92J�5@D�A@D:4:@?6D�56�42AE24:V?�3PD:42D��D:�D6�3FD42�F?�D@?:5@�5FC@�J�28C6D:G@�6=�>:4C@5636� 2AF?E2C� 6?� =R?62� C64E2 924:2� =2� 3@42� 56=� :?DECF>6?E@� ��:8FC2� ����� A6C@� D:� D6� 56D62� @3E6?6C� F?2D@?@C:525�>PD�5F=46�6=�>:4CV7@?@�5636CP�D:EF2CD6�7F6C2�56=�6;6�56�=2�3@42�56=�D2I@��E2=�4@>@�2A2C646�6?�=27:8FC2���'2C2� =@D� :?DECF>6?E@D� 56� >6E2=� E2>3:Q?� 6D� GP=:5@� =@� 2AF?E25@� A2C2� =@D� D2I@D�� A6C@� 2=8F?@D� EQ4?:4@DAC67:6C6?�BF6�6=�6;6�56=�>:4C@�2AF?E6�924:2�6=�>:D>@�4F6CA@�56=�:?DECF>6?E@��J2�BF6�2DR�E2>3:Q?��C64@86�=2DAC@A:2D� G:3C24:@?6D� 56=� >6E2=� J� 6?C:BF646� 6=� D@?:5@� @3E6?:5@� �?� 4F2=BF:6C� 42D@� =2� 5:DE2?4:2� 6?EC6� 6=:?DECF>6?E@ J�6=�>:4CV7@?@�?@�5636�D6C�:?76C:@C�2�F?@D����4>�D:�D6�BF:6C6�42AE2C�E@5@D�=@D�>2E:46D�BF6�52?6DE@D�:?DECF>6?E@D��J�2�A6D2C�56�=@D�AC@3=6>2D�ACP4E:4@D�BF6�AF652�86?6C2C�2=�EC232;2C�6?�F?�5:C64E@

��'�*( %$�(���63:5@�2=� A2CE:4F=2C� D@?:5@�BF6�86?6C2?� =@D:?DECF>6?E@D� 56� A6C4FD:V?�� =@D� >:4CV7@?@D� BF6� 5632?42AE2C=@�6?�5:C64E@�AF656?�D:EF2CD6�2�4@CE2�5:DE2?4:2�56� =2>6>3C2?2� ,?2� ?@C>2� BF6� D:8F6?�>F49@D� :?86?:6C@D� 56D@?:5@� 5:C64E@� 6D� =2� 56� 4@=@42C� 6=�>:4CV7@?@� =@�>PD� 46C42A@D:3=6�56=� :?DECF>6?E@��A6C@�D:?�A6C;F5:42C�=2�2446D:3:=:5252=�>:D>@�A@C�A2CE6�56=�>WD:4@� �56;2C� E@5@�6=�6DA24:@� =:3C6A2C2�BF6�6=�:?DECF>6?E@�AF652�D6C�8@=A625@���J�E2>3:Q?�D:?6?E@CA646C�=2�>@G:=:525�56�=2�>6>3C2?2�@�A=242�8@=A6252�=� D@?:5@� BF6� 86?6C2� F?� :?DECF>6?E@� 56� A6C4FD:V?� AF656D6C� E@>25@� 56D56� 2CC:32� @� 56D56� 232;@� 56=� >:D>@�� QDE@56A6?56�56�D:�D6�AC67:6C6�A@E6?4:2C�6=�8@=A6�@�=@D�2C>V?:4@DBF6�86?6C2�%@�@3DE2?E6�6D�AC676C:3=6��6?�86?6C2=��6764EF2C=2� E@>2� 56D56� =2� A2CE6� DFA6C:@C�� J2� BF6� A6C7:=2� >6;@C� 6=2E2BF6�56=�:?DECF>6?E@�=�>:4CV7@?@� A2C2� 6=� 3@>3@�56�A:6� 24@DEF>3C2�2� D:EF2CD656?EC@�56�=2�>:D>2�42;2��6?42C25@�924:2�6=�AF?E@�5@?56�6D8@=A625@�A2C2�2DR�6?72E:K2C�6=�8@=A6�'2C2�6DE2�7F?4:V?�D@?>FJ� :?5:425@D� =@D� >:4CV7@?@D� 5:?P>:4@D� 56� >6>3C2?22?492�� BF6� 42AE2?� 4@CC64E2>6?E6� =2D� 32;2D� 7C64F6?4:2D86?6C252D�A@C�6DE2�>6>3C2?2'2C2� =@D� A=2E@D� 6I:DE6?� F?@D� >@56=@D� 56� >:4CV7@?@D6DA64:2=6D� 56�4@?56?D25@C�� 7P4:=6D�56� C64@?@46C�563:5@�2DF� A6BF6T@� E2>2T@� J� 2� DF� 7@C>2�� A2C64:52� 2� F?� =PA:K� �=C65F4:5@� 5:27C28>2� BF6� ==6G2?� 6DE@D� >:4C@D� =6D� A6C>:E642AE2C� 4@?�AC64:D:V?� E@5@D� =@D� 2C>V?:4@D� BF6�86?6C2?� =@D>6E2=6D

���������������� �������� �� ���

�!+%!&-�!P&����$��!&,�&+!����+'&'*���'&�$���!+,�&�!��E1>4?�C5�5CDR�C9DE14?�5>�E>�31=@?�1295BD?��C125=?C�@?B�5H@5B95>391�AE5�1�=54941�AE5�>?C�1<5:1=?C�45E>1�6E5>D5�C?>?B1�<1�C?>?B9414�@5B392941�F1�49C=9>EI5>4?�+9�C5�CE@?>5�E>1�6E5>D5�45�C?>94?�@E>DE1<��I�>?C5� D95>5>�5>�3E5>D1� <?C� 613D?B5C�1D=?C6SB93?C� �F95>D?��8E=5414��5D3���C5�@E545�3?=@B?21B�AE5�3141�F5JAE5� C5� 4?2<1� <1� 49CD1>391� 45C45� E>1� 6E5>D5� C?>?B1� C5� ?2C5BF1� E>1� 49C=9>E39X>� 45� �� 4�� +($� �CT� C9� C5=5CEB1>����4��+($�1�E>�=5DB?�45�<1�6E5>D5�45�C?>94?��<?C�F1<?B5C�+($�@1B1�?DB1C�49CD1>391C�C5BR>�

1� �=5DB?C������4��+($������4� ����4�������4��1���=5DB?C������4��+($������4� ��� �4�������4��1���=5DB?C������4��+($������4� �����4�������4��

�CD?C�F1<?B5C�C?>�FR<94?C�3E1>4?�C5� DB1D1�45�1E4939?>5C�1<�19B5� <92B5��5>� <1C�AE5�5<�C?>94?�C5�45C@<1J1�5>6?B=1�45�?>41C�5C6SB931C��>�E>1�?>41�5C6SB931�3141�F5J�AE5�C5�4?2<1�<1�49CD1>391�1<�35>DB?�� <1�CE@5B693959>D5B35@D141�@?B�<1�?>41�C5�3E14BE@<931��5C�4539B�AE5�<1�CE@5B69395�9>D5B35@D141�1E=5>D1�3?>�5<�3E14B14?�45<1�49CD1>391��697EB1���+9�@?B�5:5=@<?��E>?C�1<D1F?35C�5>DB571>�����4��+($�1����=5DB?C��C5BR�@B?212<5�AE5�1� ��=5DB?C�<1�@B5C9X>C?>?B1�AE5�75>5B5>�C51�45����4��+($��I1�AE5���� ��������

�>� <1� 697EB1��� <1� 6E5>D5�45�C?>94?�5CDR�C9DE141�5>�5<�@E>D?�/��I�F1=?C�1CE@?>5B� AE5� 9BB1491� 5<� C?>94?� 81391� D?41C� <1C� 49B5339?>5C� @?B� 97E1<�3?=@?BDR>4?C5� 3?=?�E>1� 6E5>D5� C?>?B1� 5C6SB931��>� <1� � 697EB1� <1�5C65B1D95>5�E>�B149?�45����=��D?4?C�<?C�@E>D?C�C9DE14?C�1�5CD1�49CD1>391�@?C55><1�=9C=1�5>5B7T1�13YCD931��>� <1�697EB1����5<�B149?�45� <1�5C65B1�5C�45� �=DC��@5B?�5<�RB51�45�<1�=9C=1�C5BR�3E1DB?�F535C�=1I?B�AE5�5>�<���I1�AE5<1�6XB=E<1�@1B1�81<<1B�<1�CE@5B69395�45�E>1�5C65B1�5C��@B +E@?>71=?C�AE5�@E49SB1=?C�8135B�E>1�F5>D1>1�3?>�5<�=9C=?�D1=1V?�5>3141� E>1� 45� <1C� 5C65B1C� $1� 5>5B7T1� 13YCD931� AE5� C5� B579CDB1BT1� 5>� <15C65B1� �� C5BT1� 3E1DB?� F535C� CE@5B9?B� 1� <1� B579CDB141� 5>� <1� 5C65B1��� (?B5CD5�=?D9F?� @?45=?C� 169B=1B� AE5� E>1� B5<139X>� 45� @?D5>391� 13YCD931� ���3?BB5C@?>45�1�E>1�4965B5>391�5>�453925<9?C�45���4�$?C�3R<3E<?C�21C14?C�5>�5CD?C�F1<?B5C�C?>�=EI�3?=E>5C�@1B1�3E1<AE95B?@5B14?B�45�C?>94?��F51=?C�E>�@1B�45�5:5=@<?C�

->� 1<D1F?J� D95>5� E>1� C5>C929<9414� 45� ���� 4�� +($� ��� G1D9?��� =5DB?��� IAE5B5=?C�C125B�AES�>9F5<�C?>?B?�@B?4E39BR�1�E>1�49CD1>391�45����=5DB?CC9�75>5B1�E>1�C5V1<�3?>�E>1�@?D5>391�45���G1D9?(B9=5B?�C5�31<3E<1�3ER<�C5BR�<1�49C=9>E39X>�5>�4��+($�@1B1�E>1�49CD1>39145� ��� =5DB?C�� ED9<9J1>4?� <1� 6XB=E<1� 5C@53T6931� 3?=5>D141� 5>� 5<� @B9=5B31@TDE<?�@1B1�<?C�453925<9?C�+($�

��"% ����������������

$E57?�C5�B5CD1�5<�F1<?B�?2D5>94?�1<�>9F5<�AE5�5<�1<D1F?J�75>5B1�1���=5DB?�

� ���������������

�<�>9F5<�C?>?B?�AE5�C5�B53929BR�1����=5DB?C��3E1>4?�5<�1<D1F?J�75>5B5�E>�G1D9?�45�@?D5>391�C5BR�45����4�+9>�5653DE1B�5CD?C�3R<3E<?C�@?45=?C�1@B?H9=1B>?C�1<�=9C=?�B5CE<D14?�=5491>D5�<1�CECDB1339X>�45���4��3141F5J�AE5�C5�4?2<1�<1�49CD1>391��1E>AE5�C9>�D1>D1�@B539C9X>�

���#�)'%������������#)(���� �������������� �#)(����� ������������ ����#�)'%(����� ����������������#�)'%(���� �����������

.51=?C�?DB?�5:5=@<?�

$1� 49CD1>391� 5>DB5� <1C� 31:1C� 13YCD931C� I� 5<� 6?>4?� 45<� RB51� ?3E@141� @?B� 5<� @Y2<93?� 5C� 45� ��� =5DB?C� $1C5>C929<9414�45�<1C�31:1C�5C�45����4��+($����=��G��I�CE�@?D5>391�14=9C92<5�5C�45�����G1D9?C�L�ER<�C5BR�<1@?D5>391�AE5�5>DB571BR��DB121:1>4?�1�CE�>9F5<�=RH9=?��C?2B5�<1C�Y<D9=1C�69<1C�45�<1�1E495>391�

(B9=5B?�31<3E<1=?C�<1�B5<139X>�5>�453925<9?C�5>DB5���G1D9?�I�����G1D9?C�

�"% ��������+�"% �������+����������

$E57?�1V149=?C�<1�C5>C929<9414�@B?@91�45<�1<D1F?J�1���G1D9?��3?>�<?�AE5�C5�?2D5>4BR�<1�@?D5>391�+($�1����G1D9?C�1�E>�=5DB?�45�49CD1>391�

�����������������������

�8?B1� C5� 31<3E<1� <1� @SB4941� 452941� 1� <1� 49CD1>391�� CE@?>95>4?� C95=@B5� AE5� C5� DB121:5� 1<� 19B5� <92B5�� C9>@1B545C�B56<53D?B1C�>9�?2CDR3E<?C�

��+�"% ���#)(�� ����+�� ��������� ������%'��&'%+!#��!,$������

+5�B5CD1�<1�@SB4941�452941�1�<1�49CD1>391�45�<1�@?D5>391�AE5�75>5B1>�<1C�31:1C�1�E>�=5DB?�DB121:1>4?�C?2B5����G1D9?C�

� ���������������

�CD1�C5BR�<1�@?D5>391�=RH9=1�AE5�<?C�1<D1F?35C�@?4BR>�5>DB571B�C?2B5�<1�J?>1�=RC�1<5:141�45�<1�1E495>391

����,'���$�*-!�'��%�!�&,�->1�45�<1C�49693E<D145C�3?>�AE5�>?C�5>3?>DB1=?C�3E1>4?�C5�9>D5>D1��<1�5C3E381�45�E>�C?>94?�45D5B=9>14?�1<19B5�<92B5��5C�<1�49693E<D14�AE5�5H9CD5�5>�?TB�Y>931=5>D5�5CD5�C?>94?��<�BE=?B�45<�F95>D?��1ED?=XF9<5C�@?B�E>131BB5D5B1��E>�DBE5>?�<5:1>?��5<�@1C?�45�E>�1F9X>��I�E>�<1B7?�5D3SD5B1�C?>�<?C�BE94?C�AE5�>?B=1<=5>D5�@E545>5>DEB291B� 3E1<AE95B� 1E4939X>� =EC931<� 5>� 5<� 5HD5B9?B� �� 5CD?� C5� 4525� 1V149B� 5<� @B?@9?� BE94?� AE5� 75>5B1� 5<@Y2<93?��AE5�5>�5<�31C?�45�<?C�3?>395BD?C�B?3;�CE5<5�C5B�3?>C945B12<5�CD?� 9=@<931� AE5�� 1� 395BD1� 49CD1>391� 45� <?C� 1<D1F?35C�� 5<� =5>C1:5� =EC931<� C5� =5J3<5� 3?>� <?C� BE94?C1=295>D1<5C��5CD5�8538?�4525�C5B�5F9D14?�?�B54E394?�1�D?41�3?CD1�>� D?41C� <1C� C?>?B9J139?>5C� 5>� 5HD5B9?B5C� 5<� 613D?B� BE94?� 45� D9@?� 1=295>D1<� 5C� 45D5B=9>1>D5�� I� 4525� C5B=5CEB14?�3?>� <1�=1I?B�5H13D9DE4�AE5�>?C�C51�@?C92<5�(1B1�5<<?�5C� 9>D5B5C1>D5�3?>D1B�3?>� <1�1IE41�45�E>C?>X=5DB?��3?>�5<�3E1<�@?45=?C�=5CEB1B�5<�>9F5<�=549?�45<�BE94?�4EB1>D5�E>�<1@C?�45�D95=@?��(?B�5:5=@<?��� =9>ED?C��� I� 1<� =9C=?� D95=@?� ?2D5>5B� 5<� >9F5<� 45� BE94?� =RH9=?� �&9F5<� 45� @93?�� B579CDB14?� 4EB1>D5� <1=54939X>(1B1� 3?>C57E9B� AE5� E>� C9CD5=1� 45� @?D5>391� C?>?B935� 1453E141=5>D5� E>� 5C@139?� 1295BD?�� SCD5� 4525� C5B31@1J�45�5>DB571B�E>1�@?D5>391�45��@?B� <?�=5>?C�� ��4��+($�@?B�5>39=1�45<� BE94?�=549?��I�45���4��@?B5>39=1�45<�>9F5<�45�@93?��CD1C�=5CEB1C�4525>�C5B�D?=141C�45C45�<1C�J?>1C�45�<1�1E495>391�=RC�1<5:141C45�<1C�31:1C�13YCD931C��@1B1�1C57EB1B�<1�3?25BDEB1�C?>?B1�5�D?41C�6?B=1C��<?�9451<�C5BT1�49C@?>5B�45�E>�B539>D?�3EI1�3?>697EB139X>�9=@9495B1��5>�<?�@?C92<5��<1�<<5714145� <?C� BE94?C�5HD5B9?B5C�1<�@Y2<93?��I�@?D5>391B1�5<� B5>49=95>D?�45<�C9CD5=1�45�@?D5>391�=5491>D5� <1�@B?@915CDBE3DEB1�45<� B539>D?���=5>E4?�5CD?�>?�5C�@?C92<5��I1�AE5� <?C� <E71B5C�4?>45�C5�5653DY1>� <?C�3?>395BD?CD95>5>�E>1�5CDBE3DEB1�69:1��@5B?�5>�?31C9?>5C�C9�5C�@?C92<5�5C3?75B�5<� <E71B�4?>45�C5�1<35�5<�5>D1B9=14?��ID1=29S>�5<�5C@139?�AE5�F1�1�?3E@1B�<1�1E495>391��>�1=2?C�CE@E5CD?C�E>1�C9DE139X>�3?BB53D1�61F?B535BR�<131<9414�45�<1�1E4939X>

�'��*,-*��+'&'*��0��'&,*'$���Q+,!�'+9�C5�?2C5BF1�<1�697EB1�>� ��5>�<1�AE5�5CDR�B5@B5C5>D14?�5<�45C@<1J1=95>D?�45<�C?>94?�5>�31=@?�1295BD?��C5@E545�?2C5BF1B�3?=?�<1�9>D5>C9414�C?>?B1�1�E>?C����=DC�5C�<1�=9D14�1@B?H9=141�45�<1�AE5�5H9CD5�1����=DC�45�<1�=9C=1�6?B=1�<1�9>D5>C9414�C?>?B1�AE5�C5�B579CDB5�1����=DC�45�<1�6E5>D5�45<�C?>94?�C5BR�<1�=9D14�45�<1AE5�C5�?2C5BF5�1���=DC�?>� 5CD1� B57<1� @?45=?C� 31<3E<1B�� 45� 6?B=1� 1@B?H9=141�� <1� @SB4941� 45� 9>D5>C9414� 3?>6?B=5� 1E=5>D1� <149CD1>391�5>�E>�31=@?�C?>?B?�85=9C6SB93?��AE5�5C�5<�AE5�C5�6?B=1�3E1>4?�<1�6E5>D5�45�C?>94?�C5�C9DY1�1�<11<DEB1�45<�CE5<?

.51=?C� 18?B1� AE5� CE3545� 3E1>4?� <1� 6E5>D5� 45� C?>94?� C5� 3?<?31� 35B31� 45� E>1� 5CDBE3DEB1� B56<53D?B1�� 456?B=1�AE5�5<�C?>94?�C51�9BB14914?�3?>�@B565B5>391�81391�<1�J?>1�4?>45�5CDS�C9DE14?�5<�@Y2<93?�,1<�I�3?=?�C5@E545�?2C5BF1B�5>� <1� 697EB1��� <1� 9>D5>C9414�C?>?B1�1����=DC�45� <1� 6E5>D5�C97E5�C95>4?� <1�=9D14�45� <1�AE55H9CD5�1����=DC��@5B?�5>�5CD5�31C?� <1� 9>D5>C9414�5C�5<�4?2<5�AE5�1>D5C�45�3?<?31B� <1�5CDBE3DEB1�B56<53D?B1�ED9<9J1>4?�<1�=9C=1�@?D5>391�C?>?B1�5>�<1�6E5>D5���?=@1B1B�<1C�697EB1C� �I���

�>�5<�C57E>4?�31C?��145=RC��<?C�BE94?CAE5� @B?F5>71>� 45� 45DBRC� 45� <15CDBE3DEB1� C5BR>� 1=?BD97E14?C� @?B� <1=9C=1� �CD5� 3?=@?BD1=95>D?� 13YCD93?5C� 3?>?394?� 45C45� D95=@?C� 1>D97E?C�<?C� ?B14?B5C� 5>� <1� �B5391� 3<RC9315653DE121>�CEC�@1B<1=5>D?C� D5>95>4?�1CEC� 5C@1<41C� E>1� @1B54�� 5CD?� <5C@5B=9DT1� 49B979BC5� 1� E>1� 1E495>391� =EI>E=5B?C1�C9>�6?BJ1B�<1�F?J�5>�5H35C?(1B1� ?2D5>5B� 1Y>� E>� =5:?B1@B?F5381=95>D?� 45� 5CD1� 5CDBE3DEB1�AE5� 13DY1� 3?=?� @1>D1<<1� 13YCD931�� 5C3?>F5>95>D5� 49C@?>5B� 45� E>1� 395BD1@5>495>D5�5>� <1�J?>1�4?>45�C5�E2931�5<@Y2<93?��45�6?B=1��AE5�<1C�@B9=5B1C�69<1C5CDS>�5>�5<�>9F5<�=RC�21:?�=95>DB1C�AE5<1C�Y<D9=1C� 69<1C�C5�C9DY5>�=RC�1<J141C�CD?� @5B=9D5�� @?B� E>� <14?�� AE5� <112C?B39X>� 13YCD931� 45<� @B?@9?� 3E5B@?8E=1>?�>?�@5B:E49AE5�<1�1E4939X>�45�<?CAE5� 5CDR>� =RC� 1<5:14?C� 45� <1� 6E5>D5C?>?B1��I�@?B�?DB?�<14?��6139<9D1�E>1�=5:?BF9C9X>�45<�5C35>1B9?���97EB1����CD1� 49C@?C939X>� 45� E>� B539>D?� 5C� =EI496T39<� 45� 3?>C57E9B� 5>� <?C�3?>395BD?C�45B?3;�� @5B?� 5C� YD9<� D5>5B<1� 5>� 3E5>D1� 59>D5>D1B�� 5>� <?� @?C92<5�� 135B31BC5�1�5CD15CDBE3DEB1�13YCD931�9451<�C� 12C?<ED1=5>D5� B53?=5>412<5�3E1>4?�5H9CD1>�@1B545C� B56<53D?B1C�I�C5C?>?B935� 5>� 5HD5B9?B5C�� C9DE1B� D?4?� 5<5>D1B9=14? �5C35>1B9?�I�31:1C�13YCD931C�1�@?31�49CD1>391�45� <1�@1B54� DB1C5B1��I1AE5� C9� 5CD1� 49CD1>391� 5C� 5H35C9F1� �@?B5:5=@<?� CE@5B9?B� 1� ��� =DC�� 5<� C?>94?

B56<5:14?�5> <1�@1B54�<<571BR�1<�@Y2<93?�3?>�E>1�4965B5>391�45�D95=@?�CE@5B9?B�1�����45�C57E>4?�B5C@53D?�1<C?>94?�49B53D?��5>DEB291>4?�<1�1E4939X>�+9�<1�4965B5>391�D5=@?B1<�5>DB5�5<�C?>94?�49B53D?�I�5<�B56<5:14?�5C�=EI@5AE5V1��1=2?C�C5�9>D57B1>�5>�>E5CDB?�?T4?�I�1E=5>D1>�<1�C5>C139X>�45�@?D5>391�13YCD931�CD?C�B539>D?C�@B?@?B39?>1>�145=RC�<1�@?C929<9414�@1B1�<?C�=YC93?C�45�DB121:1B�3?>�C9CD5=1C�45�=?>9D?B1:5=RC�C5>39<<?C��5294?�1� <1�@?31�49CD1>391�AE5�5H9CD5�5>DB5�=YC93?C�I�@1B54�B56<53D?B1��@?4BR>�5C3E381BC55>DB5�5<<?C�3?>�=1I?B�6139<9414��I1�AE5�5<�C?>94?�B52?D1BR�5>�<1C�@1B545C�I�C5�49B979BR�81391�CEC�?T4?C

�/,�&+!P&��!&M%!������-&�+!+,�%�����(',�&�!� 1I� 4?C� 6?B=1C� 45� 9>3B5=5>D1B� <1� 5HD5>C9X>� 49>R=931� 45� E>� C9CD5=1� 45� 1=@<9693139X>� C?>?B1�� E>1� 5C9>3B5=5>D1B� <1�@?D5>391�C?>?B1�45<�C9CD5=1��=RC�5D1@1C�I�=RC�1<D1F?35C��I�?DB1�5C�49C@?>5B�45�E>�B539>D?3?>�=5>?C�BE94?C�45�3E1<AE95B�T>4?<5!>3B5=5>D1B�5<�>9F5<�=RH9=?�45�@?D5>391�45�E>�C9CD5=1�CE@?>5�8135B�6B5>D5�1�E>?C�71CD?C�3?>C945B12<5C��I1AE5� 3141� �� 4�� 45� 1E=5>D?� 5>� 5<� >9F5<� C?>?B?� B5AE95B5� 4?2<1B� <1� 31@139414� 45� 1=@<969314?B5C� I� 31:1C13YCD931C�->1�@?C92<5�?@39X>�5C�ED9<9J1B�<1C�=9C=1C�5D1@1C�I�31=291B�<?C�1<D1F?35C�@?B�?DB?C�AE5�D5>71>�E>1=1I?B�C5>C929<9414��<?�AE5�CE3545�5C�AE5�8129DE1<=5>D5�5CD?C�1<D1F?35C�AE5�?6B535>�E>�=1I?B�B5>49=95>D?C?>�=RC�31B?C�AE5�<?C�?DB?C��I�D1=29S>�5>�?31C9?>5C�=RC�F?<E=9>?C?C�E1>4?� <1� 5HD5>C9X>� 49>R=931� 45� E>� @B?7B1=1� =EC931<� 5H3545� <1� 31@139414� B51<� 45� E>� C9CD5=1� 451=@<9693139X>�C?>?B1�@E545>�CE3545B�5CD?C�4?C�8538?C�

�$?C� @1C1:5C� =RC� 6E5BD5C� 45<� @B?7B1=1� 31EC1>� <1� 49CD?BC9X>� 45� 5D1@1C� I� 1<D1F?35C�� @E495>4?� 31EC1B� <145CDBE339X>�45�1<7Y>�3?=@?>5>D5

�$?C� @1C1:5C� =RC� CE1F5C� 45<� @B?7B1=1� =EC931<� @E545>� AE541B� ?3E<D?C� @?B� <?C� BE94?C� 5HD5B>?C� ?� <?C75>5B14?C�@?B�5<�=9C=?�C9CD5=1�45�1=@<9693139X>

(?>71=?C�@?B�31C?�AE5�<?C�>9F5<5C�13YCD93?C�1>9F5<�45�<1�=93B?6?>T1�45�E>�C9CD5=1�F1>�45���4�� +($� �C?>94?� =RC� 4S29<�� 1� ���� 4�� +($�C?>94?�=RC� 9>D5>C?���5CD?�3?BB5C@?>45�1�E>15HD5>C9X>� 49>R=931� 45� ��� 4�� �>� <1�=5C1� 45=5J3<1C� 5CD?C� >9F5<5C� 3?BB5C@?>45>� 1� E>?CF?<D1:5C�AE5�F1>�45 ����4�E�81CD1�� ��4�E��<5AE9@?� AE5� C5� ED9<9J1� 81� C94?� 3?=@B?214?�� IB5CE<D1� AE5� 5<� BE94?� 45294?� 1� <?C� @B?@9?C3?=@?>5>D5C� 45<� C9CD5=1�5CDR� @B5C5>D5�1 ���4�E��=95>DB1C�AE5�5<� <T=9D5�4?>45�3?=95>J1 1C1DEB1B� 5CDR� 5>� ���� 4�E�� 5CD?� CE@?>5� E>15HD5>C9X>� 49>R=931� 45� ��� 4�� �>� SCD5� 31C?C5BR� >535C1B9?� 1:ECD1B� <1� 5HD5>C9X>� 49>R=93145� <1� C5V1<� 1E49?� 1� <1� AE5� 5<� C9CD5=1� @E5455>DB571B�� I� B54E39B� <?C� ��� 4�� 45<� @B?7B1=1?B979>1<�1�<?C����4��AE5�5<�C9CD5=1�5C 31@1J�455>DB571B�C9>�@B?2<5=1C+E@?>71=?C�AE5�@?B�3141� �4��45�9>3B5=5>D?5>� <1� C5V1<� 45� 5>DB141� C5� F1BT1� �� 4�� 5>� <1C5V1<� 45� C1<941�� 5CD?� 5C� @?C92<5� 3?<?31>4?�E>3?=@B5C?B�5>�<T>51�3?>�<1�C5V1<�45�C1<941�45�<1=5C1�� AE5� ?@5B5� 3?>� E>1� B5<139X>� 45� ��� �<B5CE<D14?� 1@1B535� 5>� <1� 697EB1� ��� I� C5� @E5453?=@B?21B� 3?=?� <?C� >9F5<5C� 45� F?<D1:5� C5

5>3E5>DB1>�1<5:14?C�45�<?C�<T=9D5C�?@5B1D9F?C�45<�C9CD5=1��@?B�<?�3E1<�>?�D5>4B5=?C�@B?2<5=1C�45294?C�1�<1C1DEB139X>� 45� <1� C5V1<� >9� 1<� BE94?� 45� 6?>4?��5� D?41C� 6?B=1C� <1� 5HD5>C9X>�49>R=931�AE5�5>�5CD5� 31C?� C5?2D95>5�5C�45����4���I�5CDR�=EI�<5:?C�45�<1�@B?@91�31@139414�49>R=931�45<�C9CD5=1�+5BT1�=5:?B�ED9<9J1B�E>B149?� 45� 3?=@B5C9X>� =RC� 21:?� @1B1� 1:ECD1B� 5<� B1>7?� 49>R=93?� 45� <1� C5V1<� 1<� AE5� @?C55� 5<� C9CD5=1� 451=@<9693139X>�>�<1�697EB1���<1�C5V1<�?B979>1<�81�C94?�3?=@B9=941�ED9<9J1>4?�E>1�B5<139X>�45��� ����3?>�<?�AE5�<1�49>R=93145<� @B?7B1=1�=EC931<� 81� @1C14?�45����4��1� ���4���?=?�5<� >9F5<�=T>9=?�45� <1� C5V1<� C5�5>3E5>DB1�@?B4521:?�45<�>9F5<�45�BE94?�45<�C9CD5=1������4�E���C5�81�1E=5>D14?�5<�>9F5<�45�C1<941�45<�3?=@B5C?B�5>� �4��3?>�<?�AE5�C5�3?>C97E5�E>�1:ECD5�@5B653D?�5>DB5�<1�49>R=931�45<�@B?7B1=1�=EC931<�I�<1�31@139414�49>R=93145<�C9CD5=1

�>� 1=2?C� 31C?C� ��97EB1C� �� I� ��� C5� 81<?7B14?�5F9D1B� AE5� <1� 49>R=931�45� <1� C5V1<1E49?�5H3541�1�<1�49>R=931�45<�C9CD5=1�45@?D5>391�� @5B?� 5C� =E38?� =RCB53?=5>412<5� 13DE1B� 3?=?�5>�5<� C57E>4?31C?��I1�AE5�C5�1C5=5:1�=E38?�=RC�1� <15HD5>C9X>�49>R=931�?B979>1<��?2D5>95>4?�E>C?>94?� =E38?� =RC� >1DEB1<� AE5� 5<� AE5� C5?2D5>4BT1� ED9<9J1>4?� E>1� 3?=@B5C9X>=1I?B

$'+����,'*�+��,%'+�O*!�'+�E1>4?�5<�C?>94?�C5�@B?@171�5>�E>�31=@?1295BD?�5CDR�CE:5D?�1�<1�9>6<E5>391�45�F1B9?C613D?B5C� 1=295>D1<5C� AE5� @E545>� 8135BF1B91B� <?C� 3R<3E<?C� =RC� @B539C?C� �CD?C613D?B5C� C?>� 5<� F95>D?�� <1� D5=@5B1DEB1� I� <18E=5414�<� 5653D?� AE5� @B?4E35� 5<� F95>D?� C?2B5� <1C?>41C�C?>?B1C�5CDR�9<ECDB14?�5>�<1�697EB1�>K��� I� SCD5� 5C� =RC� >?D12<5� 3E1>4?� 4?C3?BB95>D5C� 45� 19B5� C5� =E5F5>� 1� 49CD9>D1F5<?39414� I� 1� 49CD9>D1C� 1<DEB1C� �5� D?41C6?B=1C� C95=@B5� AE5� 5<� F95>D?� C?@<1� 5>� <1=9C=1� 49B5339X>� 5>� AE5� C5� @B?@171� 5CD5C?>94?� D95>45� 1� B56B13D1BC5� 81391� 121:?�=95>DB1C� AE5� 3E1>4?� F1>� 5>� 49B5339?>5C?@E5CD1C� <1C� ?>41C� C?>?B1C� C5� 45CFT1>81391�1BB921

�E1>4?� 5<� F95>D?� C?@<1� 45� 6?B=1� <1D5B1<� B5C@53D?� 1� <1� 49B5339X>� 45� @B?@17139X> C?>?B1� @E545� 45CF91B<975B1=5>D5� <1C� ?>41C� C?>?B1C�� C9� 295>� 5>� SCD?C� 31C?C� 5<� R>7E<?� 45� 45CF9139X>� CE5<5� C5B�=EI� B54E394?,S>71C5�5>� 3E5>D1� AE5�E>� F95>D?�=EI� 6E5BD5�@E545� 9B�� @?B�5:5=@<?��1�E>?C����X����;9<X=5DB?C�@?B�8?B1�=95>DB1C�AE5� <1�F5<?39414�45<�C?>94?�5C�45�����=DCC57E>4?�� <?�AE5�@1C14?�1��#=8?B1�B5CE<D1�45�� �#=8?B1�(?B�6E5BD5�AE5�C?@<5�5<�F95>D?�CE�F5<?39414�C5BR�C95=@B5�=EI�9>65B9?B�1�<1�45<�C?>94?��I�CE�9>6<E5>391

5>�<1�49B5339X>�AE5�D?=5>�<1C�?>41CC?>?B1C� C5BR� 21CD1>D5� B5<1D9F1�1E>AE5�4525�C5B�3?>C945B141%1I?B� 9=@?BD1>391� D95>5� 5<7B1495>D5� 45� D5=@5B1DEB1� 5>� D?41C<1C�C?>?B9J139?>5C�5>�5HD5B9?B5C��><1� 9<ECDB139X>� >K� �� C5� @E545?2C5BF1B� 5<� 3?=@?BD1=95>D?� 45� <1C?>41C� C?>?B1C� C57Y>� <1C

3?>4939?>5C�45�D5=@5B1DEB1�1=295>D1<��>�3?>4939?>5C�>?B=1<5C��<1�D5=@5B1DEB1�45�<1C�31@1C�=RC�1<D1C�45<19B5�5C�9>65B9?B�AE5�<1�AE5�5H9CD5�5>�<1C�31@1C�=RC�21:1C��5>�5CD1C�3?>4939?>5C�5<�C?>94?�D95>45�1�B56B13D1BC5813T1�1BB921�E1>4?� 5<� 3?>395BD?� C5� B51<9J1� @?B� <1� D1B45� ?� @?B� <1� >?385�SCD?C� C?>� <?C� 7B1495>D5C� 45� D5=@5B1DEB1�=RC

8129DE1<5C�� I1� AE5� <1� 9BB149139X>C?<1B�81�31<5>D14?�5<�CE5<?��I�5<�19B5=RC� 3R<94?� C5� 5>3E5>DB1� 35B31� 45<1�CE@5B69395�>� ?DB1C� ?31C9?>5C� CE3545� AE5� 5<19B5� 45� <1C� 31@1C� 9>65B9?B5C� C55>3E5>DB1� 1� =5>?B� D5=@5B1DEB1AE5� 5<� 45� <1C� 31@1C� CE@5B9?B5C�� 15CD?� C5� <5� 45>?=9>1� 9>F5BC9X>DSB=931��?>�SCD1C�3?>4939?>5C� <1C?>41C� C?>?B1C� C5� B56B13D1>� 813T15<� CE5<?�� I� D95>45>� <E57?� 145C@<1J1BC5� @?B� <1C� 31@1C� 45� 19B5

C9DE141C�1�7B1>�1<DEB1��@E495>4?�<<571B�1�3E2B9B�7B1>45C�49CD1>391C$1�49CD9>D1�49B5339?>1<9414�AE5�14AE95B5�5<�C?>94?��C57Y>�C51�<1�D5=@5B1DEB1�45�<1C�31@1C�45�19B5��=?D9F1>5CD?C�65>X=5>?C��I�5<�DS3>93?�4525�B53?>?35B<?C�I�13DE1B�5>�3?>C53E5>391��5C@5391<=5>D5�3E1>4?�C5�DB1D545�<E71B5C�45�7B1>�49=5>C9X>��F1B91>4?�5<�R>7E<?�45�<?C�1<D1F?35C�1>D5�5<�1E49D?B9?$1�8E=5414�45<�19B5�5C�?DB?�45�<?C�613D?B5C�1D=?C6SB93?C�AE5�9>D5BF95>5>�5>�<1�@B?@17139X>�C?>?B1��I1�AE5@E545�1D5>E1B�D?41C�<1C�6B53E5>391C�AE5�C5�5>3E5>DB5>�@?B�5>39=1�45� �; J��31=291>4?��1CT�5<�5AE9<92B9?D?>1<�45<�@B?7B1=1�=EC931<��C�@?B�5CD5�=?D9F?�AE5�3E1>4?�@5B3929=?C�5<�C?>94?�45�E>�DBE5>?��?B979>14?�1

=E381�49CD1>391��CX<?�?T=?C�E>� BE=?B�=EI�7B1F5�<1C� 1<D1C� 6B53E5>391C� � 45<� B5<R=@17?� 81>� C94?D?D1<=5>D5�12C?B2941C�@?B�<1�8E=5414�1D=?C6SB931�AE5�13?=@1V1�1�D?41�D?B=5>D1�� @5C1B� 45� D?4?�� 5<� 19B5� C53?� 12C?B25� =1I?B31>D9414� 45� 5>5B7T1� C?>?B1� AE5� 5<� 19B5� 8Y=54?�5CD?� 5C� 45294?� 1� AE5� 5<� 19B5� 8Y=54?� D95>5� E>145>C9414� =5>?B� AE5� 5<� 19B5� =RC� C53?� �I1� AE5� 5<F1@?B�45�17E1�5C�=5>?C�45>C?�AE5�5<�19B5���>�<1697EB1� >K� �� C5� @E545� 3?=@B?21B� 5CD5� 8538?�� ID1=29S>�AE5� <1� 12C?B39X>� 5C�=1I?B�1�=54941�AE51E=5>D1� <1� 6B53E5>391� 45<� C?>94?��<�2E5>� DS3>93?D5>4BR�5CD5�613D?B�5>�3E5>D1��=EI�5C@5391<=5>D5�5>3?>395BD?C�1<�19B5�<92B5��I�@?D5>391B1�<1�B5C@E5CD1�45<C9CD5=1� 1� <1C� 6B53E5>391C� AE5� B5CE<D5>� 1653D141C�=5491>D5�5<�EC?�45<�53E1<9J14?B�7BR693?

+!,-��!P&����$�+���"�+���Q+,!��+�E1>4?� C5� DB121:1� 5>� 5HD5B9?B5C�� I� >?� 81ICE@5B69395C� AE5� @E541>� B56<5:1B� 5<� C?>94?� 45<C9CD5=1�� 5<� 5=@<1J1=95>D?� 45� <1C� 31:1C� 13YCD931CC5�3?>F95BD5�5>�E>1�@BR3D931�B5<1D9F1=5>D5�C5>39<<1(B9=5B?�81I�AE5�45D5B=9>1B� <?C�B5AE5B9=95>D?C�45<5C@139?� 5>� 3E5CD9X>�� CE@5B69395� 1� 3E2B9B�� @?D5>391

>535C1B91��>9F5<�=549?�45<�BE94?�5HD5B9?B��5D3��?2C5BF1>4?�I�1>1<9J1>4?�5<�<E71B��?>?394?C�5CD?C�613D?B5C�C52EC31� 5<� =5:?B� 5=@<1J1=95>D?� @1B1� <1C� 31:1C� 13YCD931C�� 3E941>4?� 45� AE5� =1>D5>71>� E>1� 3?25BDEB13?=@<5D1�@1B1�D?41�<1�1E495>391�<�>9F5<�45<�C?>94?�4525�D5>5B�E>�F1<?B�B1J?>12<5�@1B1�3E1<AE95B�@E>D?�C9DE14?�45>DB?�45<�RB51�45�1E495>391$?C�1<D1F?35C�4525>�5CD1B�C9DE14?C�@?B�5>39=1�45�4?>45�5CDR�5<�@Y2<93?��3?>�<1�9>3<9>139X>�I�5<�R>7E<?�AE5C5�@B539C5�5>�3141�31C?�&?�C5�4525�?<F941B�AE5�5<�R>7E<?�45�3?25BDEB1�8?B9J?>D1<�45�E>�1<D1F?J�5C�C95=@B5=E38?�=1I?B�AE5�5<�45�3?25BDEB1�F5BD931<��@?B�5<<?�1 F535C�E>1�<975B1�9>3<9>139X>�45�<1C�31:1C�@E545�=5:?B1B>?D12<5=5>D5�<1�3?25BDEB1�45�<1C�6B53E5>391C�=5491C�I�1<D1C

�C�=EI� 6B53E5>D5�� @?B� B1J?>5C� @BR3D931C�� 5=@<1J1B� <1C31:1C�13YCD931C�1�1=2?C� <14?C�45<�5C35>1B9?��>�5CD?C31C?C� C5 ?2D95>5>� <?C�=5:?B5C� B5CE<D14?C� 49B9795>4?� 5<5:5� 45� <?C� 1<D1F?35C� 81391� 5<� @E>D?� 35>DB1<� 45� <1C� 69<1C=RC�1<5:141C�45<�5C35>1B9?���97������5�5CD1�6?B=1�� <13?=29>139X>�45�<?C�4?C�7BE@?C�45�31:1C�@B?@?B39?>1�E>>9F5<�C?>?B?�21CD1>D5�5AE9<92B14?�@1B1�D?41�<1�1E495>391�45�=1>5B1� AE5� >?� 5H9CD1>� �21385C� 13YCD93?C��� <E71B5C4?>45�<1�@5B35@39X>�C?>?B1�5C�=EI�9>65B9?B�1<�@B?=549?45<�B539>D?�C�@B539C?�5F9D1B�E>1�5H35C9F1�@B?H9=9414�45<�@Y2<93?�1<1C�31:1C�13YCD931C��@?B� B1J?>5C�45�@B?D5339X>�1E49D9F1%E38?C 1<D1F?35C�AE5�13DE1<=5>D5�?@5B1>�5>�C9CD5=1C45� @?D5>391� C?>� 31@135C� 45� � 5>DB571B� @B5C9?>5C35B31>1C�?�CE@5B9?B5C�1� <?C�����4��+($��AE5�3?=?�C5C125� 3?9>3945� 3?>� 5<� E=2B1<� 45<� 4?<?B� 5>� 5<� ?T4?8E=1>?�+9�3E1<AE95B�@5BC?>1�C5�C9DY1�45=1C914?�35B3145�E>?�45�5CD?C�1<D1F?35C�4EB1>D5�=RC�45�4?C�=9>ED?C�D95>5�1C57EB141� <1� 3?>C53E39X>�45�E>1�C?B45B1�@1B391<AE5�@E545�C5B�@5B=1>5>D5

�'&�/!'&��'��&,*���,�(�+�0���"�+�E1>4?�C5�5653DY1>�<1C�3?>5H9?>5C�5>DB5�<1C�5D1@1C�45�@?D5>391�I�<1C�31:1C�13YCD931C��C5�2EC31�B54E39B�1<=T>9=?� <1C� @SB4941C� ?31C9?>141C� @?B� <1� @B?@91� B5C9CD5>391� 45<� 312<5� 3?>4E3D?B� �E1>D?� =RC� <1B7?� 5C� 5<312<514?�=1I?B�5C�<1�B5C9CD5>391�AE5�@B5C5>D1��3E1>D?�=RC�7BE5C?�5C�5<�49R=5DB?�45<�312<5�=RC�21:1�5C�<1B5C9CD5>391�45<�=9C=?$1�31@139D1>391 I� <1� 9>4E3D1>391�AE5�@E541�5H9CD9B� 5>DB5� <?C�4?C�312<5C�3?>4E3D?B5C�@E545>�?31C9?>1B�E>5653D?�9>45C514?�5>�5<�C?>94?�AE5�C5�?2D5>71��I1�AE5�<?C�=9C=?C�312<5C�@E545>�3?>CD9DE9B��E>1�5C@5395�4569<DB?�@1C1�1<D?C�?�@1C1�21:?C��I�5CD?�1653D5�<1�B5C@E5CD1�5>�6B53E5>391C�45�<1�C5V1<�AE5�<<571�1�<?C�1<D1F?35C�31=291>4?�5<�5C@53DB?�D?>1<-D9<9J1B�E>�312<514?�<?�=RC�3?BD?�@?C92<5��3?<?31>4?�<1C�5D1@1C�1�<1�=5>?B�49CD1>391�45�<?C�1<D1F?35C�5C�5<@B9=5B�B5AE9C9D?�@1B1�B54E39B�3E1<AE95B�@SB4941�5>�<1�C5V1<�,1=29S> 5C�9=@?BD1>D5�ED9<9J1B�E>�312<5�5>�5<�AE5<?C� 69<1=5>D?C� 3?>4E3D?B5C� 5CDS>� 295>� 19C<14?C� 5>DB5� CT� I� 3?>� 5<� 5HD5B9?B�� AE5� D5>71>�E>�7B?C?B�=RC�AE5CE69395>D5�@1B1�<1�31B71�AE5�4521>�C?@?BD1B$?C�3?>53D?B5C�=RC�ED9<9J14?C�5>� <1C�31:1C�13YCD931C�C?>� <?C�AE5 C5�@E545>�F5B�5>� <1� 697EB1�����5>�5<<?C@E545�3?>53D1BC5�5<�312<5�3?>4E3D?B�@5<14?���������?�295>�E>�5>38E65�D9@?�21>1>1�������

'DB?�C9CD5=1�45�3?>5H9X>�5C�5<�AE5�C5�C9BF5�45<�5>38E65�D9@?�:13;�45������5<�=9C=?�ED9<9J14?�@1B1�<?C�>9F5<5C45�<T>51�I�AE5�D1=29S>�@E545�ED9<9J1BC5�@1B1�<?C�>9F5<5C�45�31B71�&?�?2CD1>D5�>?�C?>�<?C�3?>53D?B5C�=RC1453E14?C�@1B1�5CD1�Y<D9=1�6E>39X>��@?B�E>�<14?�5C�@?C92<5�3?>6E>49B�<?C�312<5C�@1B1�<T>51�3?>�<?C�45�31B71�@?B�?DB?�<14?�E>�3?>53D?B�D9@?�:13;�@E545�C5B�45C3?>53D14?�133945>D1<=5>D5�C9�C5�@B?4E35�E>�5CD9BX>�5>�5<312<5��I1�AE5�>?�49C@?>5�45�>9>7Y>�1>3<1:5�<�3?>53D?B�/$*�5C�E>?�45�<?C�=RC�ED9<9J14?C�5>�<?C�C9CD5=1C�45�@?D5>391�5>�49B53D?C��@1B1�<1�9>D5B3?>5H9X>5>DB5� 5D1@1C� I� 31:1C� 13YCD931C��H9CD5� E>1� D5>45>391�� 3E1>4?� C5� DB1D1� 45� 3?>53D?B5C�/$*��45�ED9<9J1B� 3?>@B565B5>391�D5B=9>1<5C��=138?��@1B1�<1�3?>5H9X>�5>�<?C�1<D1F?35C��5CD?�C5�4525�1�4?C�=?D9F?C�

�$?C� 3?>53D?B5C� /$*� 3?>� D5B=9>1<5C� �85=2B1�� C?>� <?C� 8129DE1<=5>D5� EC14?C� @1B1� <1C� 3?>5H9?>5C=93B?6X>931C��ED9<9J1>4?�5<�?DB?�D9@?�45�D5B=9>1<�C5�5F9D1>�@?C92<5C�3?>6EC9?>5C�1<�B51<9J1B�5<�3?>5H9?>14?

�$1C� <T>51C� 45� 31B71� 3?>D95>5>� E>?C� F?<D1:5C� B5<1D9F1=5>D5� 5<5F14?C�� 1<� EC1B� D5B=9>1<5C� �85=2B1�� 5>� <?C3?>53D?B5C AE5�F1>�1�<?C�1<D1F?35C�C5�B54E35�<1�@?C929<9414�45�E>�C8?3;�5<S3DB93?��I1�AE5�5CD?C�D5B=9>1<5C>?�@B5C5>D1>�>9>7E>1�CE@5B69395�AE5�5<�?@5B14?B�@E541�D?31B�@?B�45C3E94?���97EB1�� �

$?C� 3?>53D?B5C�/$*� 3?>� 3E1DB?� D5B=9>1<5C� D1=29S>� C5� ED9<9J1>� 3?=Y>=5>D5� @1B1� <1� E>9X>�5>DB5� 5D1@1C� I1<D1F?35C��I1�AE5�?6B535>�1<7E>1C�F5>D1:1C�14939?>1<5C�$1�9=@?C929<9414�45�3?>6E>49B<?C�3?>�3?>53D?B5C�45=93B?� 5C� D?D1<�� I1� AE5� 3?>D95>5>� �� @E>D1C� 5>� <E71B� 45� <1C� �� 8129DE1<5C� (?B� ?DB1� @1BD5� 1<� <<5F1B� 3E1DB?3?>4E3D?B5C� @E545>� DB1>C@?BD1B� <1� C5V1<� 45� 4?C� 1<D1F?35C� 49CD9>D?C�� 1CT� @E545>� EC1BC5� @1B1� 3?>53D1B� <1C5V1<�AE5�@B?F5>71�45�4?C�5D1@1C�3?>�E>1�31:1�291=@<9693141��>�<1�697EB1����C5�=E5CDB1�5>�5CAE5=1�3?=?C5�B51<9J1��5>�<1�@BR3D931��5CD5�D9@?�45�3?>5H9?>14?�>� <1� 13DE1<9414� C5� 81� 94?� 9=@<1>D1>4?� @B?7B5C9F1=5>D5� <1� ED9<9J139X>� 45� E>?C� >E5F?C� 3?>53D?B5C�45>?=9>14?C��C@51;?>���AE5�81>�C94?�49C5V14?C�@1B1�CE�EC?�5H3<EC9F?�5>�31:1C�13YCD931C��CD?C

�3?>53D?B5C�?6B535>�E>1�5<5F141�C57EB9414�5>�5<�3?>5H9?>14?��7B1391C�1�CE�C9CD5=1�45�1>3<1:5��1<�41B�E>3E1BD?�45�FE5<D1�81391� <1�45B5381�5<�3?>53D?B�C@51;?>�AE541� 69B=5=5>D5�171BB14?�1� <1�31:1��5F9D1>4?�C5B45C3?>53D14?�@?B�3E1<AE95B�5CD9B1=95>D?�AE5�@E541�CE6B9B�5<�312<5�45�31B71'2C5BF1B�<1�@?<1B9414�3?BB53D1�5>�<1C�3?>5H9?>5C�5>DB5�5D1@1C�I�1<D1F?35C�5C�=EI�9=@?BD1>D5�+9�E>?�45�<?C1<D1F?35C�45�E>�C9CD5=1�6E>39?>1�3?>� <1�@?<1B94149>F5BD941�� 5<� C?>94?� AE5� 75>5B1� 31>35<1� E>1� 7B1>@1BD5�45<�C?>94?�75>5B14?�@?B�?DB?�1<D1F?J�94S>D93?�I1�AE5�C5�5>3E5>DB1>�5>�61C5C�?@E5CD1C(?B ?DB?� <14?�� 3E1>4?� C5� DB1D1� 45� 1<D1F?35C� @1B121:1C� 6B53E5>391C�� <1� @?<1B9414� 9>F5BC1� 45� E>?�455<<?C�@E545�31EC1B� <1�@B?@91�45CDBE339X>�6TC931�45<1<D1F?J� 3E1>4?� C5� ?@5B1� 3?>� @?D5>391C� 5<5F141C�CD?�CE3545�@?BAE5�=95>DB1C�5<�3?>?�45� <?C�?DB?C1<D1F?35C� C5� =E5F5>� 81391� 6E5B1�� 5<� AE5� <<5F1� <1@?<1B9414� 9>F5BD941� C5� =E5F5� 81391� 45>DB?�� IF935F5BC1�� <1� @B5C9X>� 13YCD931� 45� <?C� ?DB?C1<D1F?35C� @E545� 8135B� AE5� 5<� 1<D1F?J� 3?>� <13?>5H9X>� 9>F5BD941� D5>71� E>� 3?=@?BD1=95>D?45C97E1<�� I� CE� 3?>?� 5653DY5� E>1C� 5H3EBC9?>5C5H175B141C�AE5�13125>�@?B�45CDBE9B<?(?B� D?4?� 5<<?� 81I� E>?C� 3?<?B5C� >?B=1<9J14?C� AE5>?C� C9BF5>� @1B1� 3?>?35B� 4?>45� 4525� 3?>53D1BC53141� D5B=9>1<� �>D5C� 45� DB121:1B� 3?>� 3E1<AE95BC9CD5=1�� >?� 5C� =1<1� 9451� 3?=@B?21B� <1� 3?BB53D1@?<1B9414�45<� 3?>5H9?>14?�45� <?C� 1<D1F?35C�� 5>� 5<31@TDE<?� 4549314?� 1� <?C� 1<D1F?35C� C5� 5H@<931� E>16?B=1� =EI� C5>39<<1� 45� <<5F1B� 1� 312?� 5CD13?=@B?2139X>

�'&,*'$����$��*��$!%�&,��!P&��/,�*!'*!=179>5=?C� E>� C9CD5=1� 45� C?>94?� 2RC93?�3?=@E5CD?� 45� E>� =93BX6?>?�� E>� =5J3<14?B�� E>1=@<969314?B� I� E>� 1<D1F?J� ��97EB1� ���� �E1>4?� 5<C9CD5=1�5CDS�?@5B1D9F?�C5�F1�1E=5>D1>4?�<1�71>1>391�45<�1=@<969314?B�I�45<�=5J3<14?B��81CD1�AE5�<<571�1�E>@E>D?�5>�AE5�5<�C?>94?�C5�13?@<1��5C�4539B��<1C�?>41C�C?>?B1C�@B?3545>D5C�45<�1<D1F?J�C5�E>5>�3?>�<1C�45<9>DSB@B5D5�1>D5�5<�=93BX6?>?��?B979>1>4?�E>�=?<5CD?�C9<294?

�CD5� 65>X=5>?� 5C� 3?>?394?� 3?>� 5<� >?=2B5� 45� B51<9=5>D139X>� 13YCD931� �5>� 9>7<SC� 6554213;��� I� C5� 6?B=13E1>4?� C5� @B?4E35� E>1� 5C@5395� 45� 2E3<5� 13YCD93?� AE5� E>5� <1� C5V1<� 45� ?B975>� 3?>� <1� =9C=1� C5V1<B5@B?4E3941�@?B�5<�1<D1F?J

$1� B51<9=5>D139X>� 13?>D5353E1>4?� <1� 71>1>391� 13YCD93145� 5CD5� 2E3<5� <<571� 1� <1E>9414��5C�4539B�AE5�5<�C?>94?@B?3545>D5� 45<� 1<D1F?J� AE5<<571� 1>D5� 5<� =93BX6?>?� D95>5<1� =9C=1� 9>D5>C9414� AE5� 5<AE5� @B?3545� 45<� 9>DSB@B5D5�� I145=RC� C5� 5>3E5>DB1� 5>61C5�E1>4?� @?B� 1339X>� 45� <1C31:1C� 13YCD931C� 45<� C9CD5=1@B9>39@1<� ��*�"!�� ��'�((�1@1B535� <1� B51<9=5>D139X>13YCD931�� 5<� ?@5B14?B� 4525B54E39B� 5<� >9F5<� 45� 71>1>39145<� C9CD5=1� 5>DB5� �� I� �� 4��5<<?� <5� @B?@?B39?>1BR� E>=1B75>� B1J?>12<5� 45C57EB9414� 4EB1>D5� 5<3?>395BD?� ->1� 2E5>1

3?<?3139X>� 45� <1C� 31:1C� 13YCD931C� D95>5� E>� 5C@5391<� 9=@?BD1>391� @1B1� @B5F5>9B� <1� 1@1B939X>� 45� <1B51<9=5>D139X>��E>�2E5>�3?>DB?<�45�<1�49B5339?>1<9414�5>�<?C�1<D1F?35C�5C�E>?�45�<?C�=5:?B5C�1>DT4?D?C�@1B15CD5�@B?2<5=1

.51=?C�18?B1� <1� 697EB1�>K����� <?C�5<5=5>D?C�AE5�C5�ED9<9J1>�5>�5CD5�C9CD5=1�C?>�1<D1=5>D5�49B5339?>1<5C�1<D1F?J�I�=93BX6?>?��45294?�1�<1�?B95>D139X>�45�1=2?C�3?=@?>5>D5C�<1�@B5C9X>�13YCD931�AE5�<<571�1<�=93B?@B?3545>D5�45<�1<D1F?J�5CDR���4��@?B�4521:?�45�<1�AE5�B53925�5<�@Y2<93?��?>�5CD1C�3?>4939?>5C�<1�1@1B939X>45� <1� B51<9=5>D139X>� 13YCD931� 5C�� 5>� <1� @BR3D931�� =EI� 496T39<� &?� ?2CD1>D5� 81I� AE5� D5>5B� @B5C5>D5� 5<3?=@?BD1=95>D?� 45� <1C� 21:1C� 6B53E5>391C�� I1 AE5� <1� =1I?BT1� 45� 1<D1F?35C� 5C@5391<9J14?C� 5=9D5>� 5CD1C6B53E5>391C�3?>�E>�R>7E<?�=EI�1=@<9?��C95>4?�5>�<1�@BR3D931�=EI�496T39<�45�3?>DB?<1B�CE�49B5339?>1<9414�>�B5CE=5>��@1B1�5F9D1B�5>� <?�@?C92<5�<1�1@1B939X>�45�<1�D5=941�B51<9=5>D139X>�13YCD931�5>DB5�<?C�1<D1F?35C@B9>39@1<5C�I�<1�=93B?6?>T1��81I�AE5�D5>5B�5>�3E5>D1�5CD?C�DB5C�613D?B5C�

�.979<1B�<1C�31B13D5BTCD931C�49B5339?>1<5C�45�=93BX6?>?C�I�1<D1F?35C��9>D5>D1>4?�AE5�5>�>9>7Y>�31C?�3?9>3941>CEC�R>7E<?C�?@5B1D9F?C

�!>D5>D1B�AE5�<1C�31:1C�13YCD931C�5CDS>�C9DE141C�<?�=RC�<5:?C�@?C92<5�45�<?C�=93BX6?>?C

�(B?3EB1B�AE5�<?C�=93B?C�5CDS>�<?�=RC�35B31�@?C92<5�45�<1C�6E5>D5C�45�C?>94?

��$!�*��!P&�0��)-!$!�*��'����-&�+!+,�%�->1�F5J�C5�81�=?>D14?�E>�C9CD5=1�45�@?D5>391��I�C5�81>�5653DE14?�<1C�?@?BDE>1C�3?=@B?2139?>5C�C?2B5�5<2E5>� 6E>39?>1=95>D?� 45� <?C� 5<5=5>D?C� AE5� <?� 9>D57B1>�� <<571� 5<� =?=5>D?� 45� 31<92B1B� 5<� � 5AE9<92B9?� 5>DB56B53E5>391C�45<�C9CD5=1��5C�4539B�97E1<1B�<1�71>1>391�@1B1�D?4?�5<�5C@53DB?�D?>1<�5>�5<�@B?7B1=1�=EC931<�<�<E71B�9451<�@1B1 5>3?>DB1B�<1�53E1<9J139X>�45�B565B5>391�5>�E>�C9CD5=1�C5BT1�5>�31=@?�1295BD?��4?>45�>?5H9CD95B1�>9>7Y>�B52?D5��AE5�@5B:E4931B1�<1�3?=@B?2139X>�(?B�45C7B1391�45=1C914?�1�=5>E4?�5CD?C�<E71B5CB53925>� 49CD9>D?C� BE94?C �DBR>C9D?� 45� F58T3E<?C�� BE94?C� 45� 9>4ECDB91C�� 5D3�� AE5� 9=@945>� B51<9J1B� E>� 2E5>31<92B14?+9� >?� 5C� @?C92<5�� @?B� 5CD?C� =?D9F?C� 1@E>D14?C�� 5653DE1B� 5CD1C� @BE521C� 5>� 5HD5B9?B5C�� C5BT1� ?@?BDE>?B51<9J1B<1C�5>�E>�B539>D?�35BB14?��@5B?�3?>�E>1C�31B13D5BTCD931C�AE5�<?�1C5=5:1BR>�1�E>�B539>D?�1<�19B5�<92B5(1B1� 5<<?� C5B91� 9>D5B5C1>D5� AE5� DEF95B1� E>� 3?569395>D5� 45� 12C?B39X>� 35B31>?� 1� <1� E>9414� @?B� D?41C� CEC@1B545C�I�D538?��I�1CT�C5�5F9D1BR>�D?4?C� <?C�53?C�I�B52?D5C�AE5�9>5F9D12<5=5>D5�C5�?B979>1>�5>�<?C�<E71B5C35BB14?C�<�?2:5D?�45�5CD1�31<92B139X>�5C�=Y<D9@<5��C5�DB1D1�45�3?=@B?21B�C9�5<�B5@1BD?�45�<?C�7BE@?C�45�6B53E5>391C�5C5<�1453E14?��45�3?>CD1D1B�AE5�<1�49C@5BC9X>�5653DE141�@?B�<?C�C9CD5=1C�45�1<D1F?35C�>?�@5B:E4931�J?>1C�45<1�1E495>391��5>�B5CE=5>�C5�DB1D1�45�53E1<9J1B�<1�B5C@E5CD1�7<?21<�45�D?4?�5<�C9CD5=1�45�@?D5>391$1�6?B=1�94X>51�45�5653DE1B�5CD1�3?=@B?2139X>�C5�5CAE5=1D9J1�5>�<1�697EB1�����@1B1�5<<?�C5�@B539C1�3?>D1B3?>� E>� 1>1<9J14?B� 45<� 5C@53DB?� 5>� D95=@?� B51<�� E>�=93BX6?>?�@5B653D1=5>D5� 31<92B14?�� I� E>�75>5B14?B� 45BE94?�B?C1 �<?C 1>1<9J14?B5C�45�5C@53DB?�I�=E381C�=5C1C�45�=5J3<1C�3?>D95>5>�75>5B14?B5C�45�BE94?�B?C1+5�9>DB?4E35�5<�BE94?�B?C1�5>�5<�C9CD5=1�I�C5�5>FT1�81391�<1C�5D1@1C�I�<?C�1<D1F?35C��<�=93BX6?>?�C5�3?>53D11<�1>1<9J14?B�45�5C@53DB?�I�C5�?2C5BF1�3ER<�5C�<1�B5C@E5CD1�45<�C9CD5=1�1�D?4?C�<?C�7BE@?C�45�6B53E5>391C�=5491>D5� 5<� 53E1<9J14?B� 75>5B1<� 45<� C9CD5=1� C5� B54E35� <1� 71>1>391� 45� <1C� 6B53E5>391C� AE5� 5CDS>C?2B51=@<9693141C��I�C5�1E=5>D1>�<1C�6B53E5>391C�AE5�@B5C5>D5>�E>1�B5C@E5CD1�=RC�21:1

�E1>4?�C5�81�<?7B14?�E>�395BD?�5AE9<92B9?�5>DB5�D?4?C�<?C�7BE@?C�45�6B53E5>391C��5C�5<�=?=5>D?�45�31=291B<1�C9DE139X>�45<�=93BX6?>?�I�B5@5D9B�<1�3?=@B?2139X>��5CD?�4525�B5@5D9BC5�5>DB5�DB5C�I�3E1DB?�F535C�C9DE1>4?�5<=93B?�1�49F5BC1C�49CD1>391C�45�<?C�1<D1F?35C�I 3?>�49CD9>D?C�R>7E<?C�B5C@53D?�1��SCD?C��<�C9CD5=1�5CD1BR�295>31<92B14?�3E1>4?� <1� B5C@E5CD1�5>DB5� <1C� 6B53E5>391C�C9DE141C�5>DB5����� J�I����; J�C51�B1J?>12<5=5>D5@<1>1��I�3E1>4?�<1�4965B5>391�AE5�@E541�?B979>1BC5�1<�31=291B�5<�=93BX6?>?�45�C9DE139X> >?�CE@5B5�<?C���4�5>�3141�21>41�45�6B53E5>391C�E1>4?� C5� 5653DY1� 5CD1� 3?=@B?2139X>� >?� 81I� AE5� D?=1B� 45=1C914?� 5>� 3E5>D1� <1� 21>41� 45� 6B53E5>391C3?=@B5>4941� 5>DB5� ��� J� I� ��� J�� I1� AE5� 5CD1C� 6B53E5>391C� 3?BB5C@?>45>� 3?>� <1C� 45� DB1>C@?BD5� 45� <13?BB95>D5�1<D5B>1��I�CE5<5>�D5>5B�E>1�@B5C5>391�>?D12<5�5>�<1�3?=@?C939X>�45<�BE94?�B?C1+9� 5H9CD5>� 4965B5>391C� =EI� >?D12<5C� 5>� <?� B565B5>D5� 1� <1C� 21>41C� 45� 6B53E5>391C� 3E1>4?� 31=291=?C� 5<=93BX6?>?�45�@?C939X>�� C5BR� @B539C?� 9>F5BD9B� <1�@?<1B9414�45� <1C�C5V1<5C�AE5�5>FT1�5<� 69<DB?�13D9F?�81391� <?C1=@<969314?B5C� 45� 17E4?C �5>� E>� C9CD5=1� 291=@<969314?�� ?� 295>� 9>F5BD9B� <1� @?<1B9414� 45� <1C� C5V1<5C� AE51<9=5>D1>�5<�7BE@?�45�6B53E5>391C�=5491C �C9�5<�C9CD5=1�5C�DB91=@<969314?��,1=29S>�@E545�9>D5>D1BC5�F1B91B<5F5=5>D5� <?C� @E>D?C� 45� 3?BD5� 5>DB5� 7BE@?C� 45� 6B53E5>391C�� I1� AE5� 5>� ?31C9?>5C� @E545>� ?B979>1BC531>35<139?>5C�45�61C5�45294?�1�<1�9>3?BB53D1�C9DE139X>�45�SCD?C+9�5CD1C�13DE139?>5C�>?�=5:?B1>�5<�5AE9<92B9?� D?>1<�5>DB5�49CD9>D?C�@E>D?C�45� <1�J?>1�45�1E495>391��5C =EI@B?212<5� AE5� 5<� @B?2<5=1� C5� ?B979>5� 45294?� 1� E>1� 9>3?BB53D1� 49CDB92E39X>� 45� <?C� 1<D1F?35C�� I� 812BR� AE5B55CDBE3DEB1B�<1�@?C939X>�I�49B5339X>�45�<?C�1<D1F?35C�45�17E4?C�?�45�=549?C��C57Y>�<1�21>41�45�6B53E5>391CAE5�@B5C5>D5�=1I?B5C�4965B5>391C�E1>4? >?�C5�3E5>D5�3?>�<1�1IE41�45<�1>1<9J14?B�45�5C@53DB?��5<�?@5B14?B�45<�C?>94?�D5>4BR�AE5�5653DE1B�<1C@BE521C�F1<9S>4?C5�45�CE�F?J�I�45�CEC�?T4?C��?>�E>�=93BX6?>?��AE5�49C@?>71�45�E>�312<5�21CD1>D5�<1B7?�3?=@B?21BR� 5<� 5AE9<92B9?� D?>1<� 5>� E>� @E>D?� 45� <1� J?>1� 45� 1E4939X>�� 1AET� C5� @E545� <<5F1B� 1� 312?� E>153E1<9J139X>� 75>5B1<� 45� B565B5>391� 81CD1� AE5� 5<� ?@5B14?B� 5C3E385� CE� F?J� � 3?BB53D1=5>D5� @?B� 5<� C9CD5=1$E57?�4525BR�5653DE1B�<1�=9C=1�@BE521�5>�49CD9>D?C�@E>D?C�45<�B539>D?��@1B1�3?=@B?21B�C9��CE5>1���97E1<� I1AE5�5>�31C?�3?>DB1B9?�812BR�AE5�8135B�<?C�1:ECD5C�1>D5C��9>49314?C��@5B?�3?>�5<�Y>93?�1EH9<9?�45�CEC�?T4?C�>� 1=2?C� 31C?C�� 45C@ESC� 45� 31<92B1B� E>� C9CD5=1� 45� @?D5>391�� C5BR� 3?>F5>95>D5� 9>DB?4E39B� E>� @B?7B1=1=EC931<�I�5653DE1B�CE�5C3E381��I1�AE5�1�F535C�E>�C9CD5=1�3?>�E>1�B5C@E5CD1�@<1>1�@E545�>?�C1D9C6135B�<?C?T4?C� 45� <?C� 16939?>14?C� 1� 1<7Y>� 7S>5B?� =EC931<� &?� ?2CD1>D5� 49C@?>5B� 45� E>� C9CD5=1� 295>� 5AE9<92B14?71B1>D9J1�� 5>� 3E1<AE95B� 31C?�� E>� B5>49=95>D?� =EI� 1<D?� 45<� 3?>:E>D?�� C9>� AE5� 5<<?� 9=@941� 5653DE1B@?CD5B9?B=5>D5�<1C�3?BB5339?>5C�?@?BDE>1C��C57Y>�5<�D9@?�45�=YC931�AE5�C5�F1I1�1�1=@<96931B

�����������"���� ������� �� ���

)��#�. K%�/�)�-�)��)�� K%�*&%&)���%�)�� %+&*#>B�<DA>B��C427>B�G�BD4;>B�34�D=�4B?028>�24AA03>�C84=4=�D=0�8<?>AC0=280�34C4A<8=0=C4�4=�;>�@D4�B4�A4584A40;�B>=83>�@D4�B4�>1C84=4�34=CA>�34�4BC4�A428=C>��=�;0�586DA0� �B4�A4?A4B4=C0�;>�@D4�>2DAA4�2D0=3>�D=0�>=30B>=>A0�8=2834�4=�D=0�?0A43��D=0�6A0=�?0AC4�34�;0�4=4A6P0�02UBC820�4B�A45;49030��?4A>�D=�?>A24=C094�34�4BC04=4A6P0� 4B� 01B>A1830� ?>A� ;0� ?0A43� ,=0� ?0AC4� 34� 4BC0� 4=4A6P0� B4� 2>=E84AC4� 4=� 20;>A�� ?4A>� >CA0� ?0AC4� 4BCA0=B<8C830�0�CA0EOB�34�;0�?0A43�70280�;0�20A0�>?D4BC0�34;�C018@D4�;� C8?>� 34� <0C4A80;� 2>=� @D4� 4BCO� 2>=BCAD830� ;0� ?0A43� 34C4A<8=0AN� � ;>B� 38BC8=C>B� ?>A24=C094B� 34� A45;4F8T=�

01B>A28T=� G� CA0=B<8B8T=� B>=>A0�� G� 4=� 2>=B42D4=280� ;002UBC820� @D4�?A4B4=C4�4;� A428=C>��D0;@D84A� E0A8028T=�4=;>B� <0C4A80;4B� @D4� 2D1A0=� ;0B� ?0A434B�� C427>B� G� BD4;>B34�D=�;>20;�C4=3AN�D=�4542C>�4=�;0�02UBC820�@D4�?A4B4=C44;�<8B<>�=�4;�20?PCD;>�34��2UBC820�$DB820;�B4�70=�?A4B4=C03>�;>B2>=24?C>B� 34� A45;4F8T=� G� A4E4A14A028T=� B>=>A0�� 0<1>B54=T<4=>B�2>1A0=�BD�<0G>A�8<?>AC0=280�2D0=3>�B4�CA0C034�B>=>A8H0A�A428=C>B�24AA03>B,=�?A8<4A�?0AN<4CA>�@D4�=>B�?4A<8C4�?>=34A0A�;0�20;830302UBC820�34�D=�A428=C>�4B�4;� 8=C4AE0;>�34�C84<?>�@D4�70G4=CA4� ;0� ;;46030� 34;� B>=83>� 38A42C>� G� ;0B� ?A8<4A0BA45;4F8>=4B� 34;� <8B<>� �BC4� 8=C4AE0;>� ?D434� E0A80A� 4=5D=28T=�34;�C8?>�34�B>=>A8H028T=�@D4�B4�4542CU4��BP��?>A494<?;>�� 2D0=3>� B40� 8<?>AC0=C4� 2>=B46D8A� D=4=C4=38<84=C>� ?4A542C>� 34;� <4=B094� 701;03>�� 4BC48=C4AE0;>�3414�C4=4A�D=�E0;>A�<DG�2>AC>�� =54A8>A�0 � ��34B46D=3>�*8�B4�CA0C0�34�D=0�0D3828T=�<DB820;�4BC4�C84<?>

?D434� B4A� <NB� 4;4E03>�� ?4A>� ?0A0� 50E>A424A� D=0� 4B2D270� 2>AA42C0� =>� 4B� A42><4=301;4� @D4� B>1A4?0B4=D=20� ;���34�B46D=3>���BC4�4B�4;� C84<?>�@D4�?D434�CA0=B2DAA8A�4=CA4� ;0� ;;46030�34;�B>=83>�38A42C>�G�4;�@D4?A>2434�34�;0B�?A8<4A0B�A45;4F8>=4B�34;�<8B<>�D0=3>� B4� CA0C4� 34� 02>=3828>=0A� ?4@D4R>B� ;>20;4B�� 4;� C84<?>� 34� A4E4A14A028T=� 4B� 4;� ?0AN<4CA>� <NB8<?>AC0=C4�@D4�?>3A4<>B�2>=CA>;0A��G0�@D4�4;�8=C4AE0;>�4=CA4�4;�B>=83>�38A42C>�G�;0B�?A8<4A0B�A45;4F8>=4B�4BCN2>=3828>=03>�?>A�;0B�?A>?80B�38<4=B8>=4B�34;�A428=C>��=�4542C>��4;�B>=83>�A45;4903>�@D4�;;460�0�=D4BCA>�>P3>4=�<4=>B�34� � ��34�B46D=3>�CA0B�7014AB4�>A868=03>��B4�2>=5D=342>=�4;�B>=83>�>A868=0;�38A42C>�4�4BC>�?>34<>B�343D28A�@D4�4;�42>��>�;0B�A45;4F8>=4B�38BC8=6D81;4B34;� B>=83>�>A868=0;� BT;>�?D434=�30AB4�4=� A428=C>B�BD58284=C4<4=C40<?;8>B� �=� ;>20;4B� ?4@D4R>B� ;0B� ?A8<4A0B� A45;4F8>=4B� B>=>A0B;;460=�0�=D4BCA>B�>P3>B�4=�5A0228>=4B�34�B46D=3>��2>=5D=38O=3>B42>=�4;�B>=83>�38A42C>�#0B�A45;4F8>=4B�B42D=30A80B�@D4�B4�>A868=0=B>=� C0<18O=� <DG� AN?830B�� 4=� ;>B� A428=C>B� ?4@D4R>B�� 2><>� ?0A02A40A� D=0� 38B2>=C8=D8303� B>=>A0�� ?4A>� B>=� BD58284=C4B� ?0A0?A>E>20A�D=�0D<4=C>�34�;0�B>=>A8303��0��4BC4�4542C>�B4�;4�2>=>242>=�4;�=><1A4�34�A4B>=0=280�34;�;>20;,=�C84<?>�34�A4E4A14A028T=�A4;0C8E0<4=C4�2>AC>��2>=�D=�2>=C4=83>4B?42CA0;� 4@D8;81A03>�� B4� ?4A2814� 2>=� 06A03>�� G� 4B� 2>=B834A03><DB820;<4=C4� 0342D03>� ,=� C84<?>� 34� A4E4A14A028T=� 34<0B803>;0A6>�38582D;C0�4;�4=C4=38<84=C>�34�;0�?0;01A0��G�2>=5D=34�;0�4B2D270<DB820;� �D0=3>� 0B8BC8<>B� 0� D=� 2>=284AC>� 4=� ;>20;4B� C8?>� '0;028>34�;>B��4?>AC4B��>�6A0=34B�=0E4B�8=3DBCA80;4B��;0�02UBC820�BD4;4�B4A=450BC0��=>�?>A@D4�4;�B>=83>�4BCO�0�D=�=8E4;�<DG�0;C>��B8=>�?>A@D44;�C84<?>�34�A4E4A14A028T=�@D4�C84=4=�4BC>B�A428=C>B�4B�34<0B803>;0A6>#0�0GD30�34�D=�B>=T<4CA>� ��86DA0���� B4AN� 8<?A4B28=381;4�?0A0�4;CO2=82>� @D4� 34B44� 2>=CA>;0A� 4;� C84<?>� 34� A4E4A14A028T=� 342D0;@D84A� A428=C>�� 0BP� 2><>� C0<18O=� ?0A0� <4BDA0A� 4;� =8E4;� 34?A4B8T=�B>=>A0�4=�3�

�&%+)&#����#��)�-�)��)�� K%�4�C>3>�;>�4F?A4B03>�B4�343D24�@D4�C4=4A�D=�284AC>�2>=CA>;�B>1A4�4;�C84<?>�34�A4E4A14A028T=�34�D=�;>20;�4B<DG�8<?>AC0=C4�B8�B4�34B40�>5A424A�D=�B>=83>�=PC83>�G�2;0A>�3DA0=C4�;0�0D3828T=��B020=3>�4;�<NF8<>�?0AC83>34;�B8BC4<0�34�?>C4=280#>B� ?A>1;4<0B� 34� B>=>A8H028T=� B4� 2><?;820=� 4=� 4;� 20B>� 34� CA01090A� 4=� A428=C>B� 2>=� ?0A434B� ?0A0;4;0B� G0;C0<4=C4�A45;42C0=C4B��B8=�2>AC8=094B�=8�<0C4A80;4B�01B>A14=C4B��0BC0�2>=�4542CD0A�D=0B�?0;<030B�4=�4BC>BA428=C>B�?0A0�?4A2818A�4;�4542C>�34�D=0�?4A<0=4=C4�38B<8=D28T=�2P2;820�4=�;0B�>=30B�B>=>A0B��BC>�30�;D60A�0@D4� 4BC>B� A428=C>B� ?D430=� B4A� 2;0B858203>B�2><>�02UBC820<4=C4� �E8E>B��� G�4=CA0=�4=�4BC0�3458=828T=� C>3>B0@D4;;>B�;>20;4B�@D4�=>�2>=C84=4=�?AN2C820<4=C4�4;4<4=C>B�01B>A14=C4B�=� >CA>� 4FCA4<>� 2014� B8CD0A� 0� ;>B� A428=C>B� 02UBC820<4=C4� �<D4AC>B��� @D4� B>=� 0@D4;;>B� @D4� 2>=C84=4=� D=<>18;80A8>�?4B03>�G�=D<4A>B>��A4?;4C>B�34�2>AC8=094B��>�184=�@D4�4BCO=�A42D184AC>B�2>=�<0C4A80;4B�0;C0<4=C401B>A14=C4B��=�4BC>B� A428=C>B�4;�E0;>A�34;�B>=83>� A45;4903>�G� A4E4A14A03> 4B�<P=8<>��G�4;� A4BD;C03>�34� ;00D3828T=�B4�=>B�?A4B4=C0�34<0B803>�B42>��B8=�?4AB?42C8E0�34�4B?028>#>B�A428=C>B��E8E>B��50E>A424=�4=�4B?4280;�0�;0�<UB820�34�C8?>�2>A0;�G0�@D4�4;�B>=83>�@D4�?4A2814�;0�0D384=280B4�2><?>=4�34;�38A42C>�<NB�4;�A45;4903>�G�4;�A4E4A14A0=C4��><>�494<?;>�34�A428=C>B�34�4BC4�C8?>��C4=4<>B;0B�6A0=34B�10BP;820B�G�;0B�20C43A0;4B��2>=�D=>B�C84<?>B�34�A4E4A14A028T=�<DG�0;C>B��G0�@D4�BD4;4=�4BC0A�?>A4=28<0�34�;>B�2D0CA>�B46D=3>B�#0�0=C86D0�<UB820�B02A0�B4�2><?>=P0�34�5>A<0�@D4�?D384A0�0?A>E4270AB44;�4542C>�34�A45;4F8T=�B>=>A0�@D4�?A>?>A28>=0=�4BC>B�4B?028>B�%>�>1BC0=C4��2><>�B4�?D434�2><?A>10A��;04B2D270�34�>CA>B�4BC8;>B�<DB820;4B� �G�4B?4280;<4=C4�34� ;0�?0;01A0�701;030��4B�<DG�2>=5DB0�4=� C>3>B� ;>BA428=C>B�@D4�?>B40=�4BC0B�2D0;83034B��02UBC820B'>A�>CA>�;03>��;>B�;>20;4B�@D4�2>=C4=60=�D=�4F24B>�34�4;4<4=C>B�01B>A14=C4B�BD4;4=�?A>E>20A�D=0�0D3828T=34<0B803>� B420�� G0� @D4� ;0� ?AN2C820� 34B0?0A828T=� 34� ;0B� A45;4F8>=4B� B>=>A0B� 8<?;820� ;0� >1C4=28T=� 34� D=B>=83>�B8=�A4;84E4��=PC83>�4=�6A03>�BD<>�?4A>�4F4=C>�34�;0�B4=B028T=�34�E>;D<4=�?0=>AN<82>�,=�494<?;>4FCA4<>� 34� D=� A428=C>� 02UBC820<4=C4� �<D4AC>�� B4AP0� D=0� B0;0� 0=42>820�� 3>=34� ;0� 01B>A28T=� 8=C4A=0� 4BBD?4A8>A� 0;� ����� 34� 5>A<0� @D4� 4=� ;0� ?AN2C820� BT;>� 4B� ?>B81;4� ?4A2818A�� 4=� BD� 8=C4A8>A�� ;0B� >=30B� B>=>A0B38A42C0B��BC0B�B0;0B�B>=�UC8;4B�2D0=3>�B4� CA0C0�34�2><?A>10A�>�20;81A0A�<82AT5>=>B�>�0;C0E>24B��?4A>�B>=01B>;DC0<4=C4�8=0342D030B�?0A0�;0�0D3828T=�>�;0�4942D28T=�<DB820;���86DA0���

%>B�4=2>=CA0<>B�?D4B��2>=�@D4�?0A02>=B46D8A�D=�C84<?>�34�A4E4A14A028T=0342D03>�0�;0B�38<4=B8>=4B�34;�;>20;�G�C0<18O=�0;�C8?>�34�<UB820�@D4�B4�E00� >5A424A�� 4B� ?A428B>� 2>=>24A� ;0B?A>?843034B� 34� 01B>A28T=� 02UBC820@D4�?>B44=�;>B�<0C4A80;4B�4<?;403>B4=� ;0� 2>=BCAD228T=� G� 342>A028T=� 34;;>20;� +0<18O=� C84=4� BD� 8<?>AC0=2804BCD380A� 4;� ;D60A� ?A428B>� 3>=34� B42>;>20=�;>B�<0C4A80;4B 01B>A14=C4B�>A45;42C0=C4B�G0�@D4�?D434=�<>385820A4;� 8=C4AE0;>�34� C84<?>�@D4� CA0=B2DAA04=CA4�4;�B>=83>�38A42C>�G�4;�A45;4903>�;�4<?;0H0<84=C>�G� ;0�>A84=C028T=�34;>B� 0;C0E>24B C84=4�� 4=� ;>B� A428=C>B24AA03>B�� D=0� 8<?>AC0=280� 20?8C0;?0A0� >1C4=4A� D=� C84<?>� 34A4E4A14A028T=�2>AA42C>'0A0�;>B�2>=284AC>B�34�<UB820�A>2:��4;C84<?>� 34� A4E4A14A028T=� <NB8=38203>�>B28;0�4=CA4� ���B46D=3>B�G��B46D=3>B�� 4BC0=3>� ;0� B0;0� E02P0� 34?U1;82>� �;� E0;>A� <NB� 0342D03>� ?0A02030� 20B>� E4=3AN� 4=� 5D=28T=� 34� ;020?028303�34;� ;>20;��2D0=C>�<0G>A�4BOBC0�� <NB� ;0A6>� ?D434� B4A� 4;� C84<?>34�A4E4A14A028T=�@D4�B4�>1C4=60

� *+�%� ���) + ���030�E4H�@D4�B4�3>1;0�;0�38BC0=280�4=CA4�D=�BD94C>�G�D=0�5D4=C4�B>=>A0��;0�8=C4=B8303�?4A281830�38B<8=DG4�4=�� 3�� �BC4� 7427>�� @D4� B4� CA0C0� 4=� 4;� 20?8CD;>� 34� �<?;8582028T=� 4=� �FC4A8>A4B�� C0<18O=� 4B� EN;83>� 4=

0<?;8582028>=4B� 4=� A428=C>B� 24AA03>B�� ?4A>� BT;>� 70BC0� @D4� B4� ;;460� 0� ;0� 38BC0=280� 2APC820� 34� ;0B� 5D4=C4BB>=>A0B�=� 4;� 3806A0<0� ��� B4� <D4BCA0� D=0� 5D4=C4� 34� B>=83>� ><=838A4228>=0;�� @D4� 4=EP0� >=30B� B>=>A0B� 4=� C>30B38A4228>=4B� 34=CA>� 34� D=� ;>20;� 24AA03>� �;� B>=83>� 38A42C>� ?A>E4=84=C4� 34� ;0� 5D4=C4� @D4� E0� ?4A384=3>8=C4=B8303�0�<43830�@D4�B4�E0�0;490=3>�34�;0�<8B<0�*8�0;6D84=�B4�B8CU0�4=�4;�?D=C>����0�?>20�38BC0=280�34�;0

5D4=C4� B>=>A0�� ;0� 8=C4=B8303� 34;� B>=83>� 38A42C>4BC0AP0�<DG�?>A�4=28<0�34�;0�34;�B>=83>�A45;4903>%>� >1BC0=C4�� 0� D=0� 284AC0� 38BC0=280� �4=� ���A4BD;C0AP0� @D4� ;0� 8=C4=B8303� 34;� B>=83>� 38A42C>B4AP0�86D0;�0�;0�34;�B>=83>�A45;4903>�*8�B4�B86D84A00;490=3>�34�;0�5D4=C4�B>=>A0��;;460AP0�D=�?D=C>�C4=��� 4=� @D4� ;0� 8=C4=B8303� ?A>E>2030� ?>A�4;� B>=83>A45;4903>� B4A80� <0G>A� @D4� ;0� >A868=030� ?>A� 4;B>=83>�@D4�?A>E84=4�38A42C0<4=C4�34�;0�5D4=C4#0�38BC0=280�@D4�70G�4=CA4�D=0�5D4=C4�B>=>A0�G�4;?D=C>�3>=34�;0�8=C4=B8303�34;�B>=83>�38A42C>�4B�;0<8B<0� @D4� ;0� 34;� B>=83>� A45;4903>� �>� 20<?>A4E4A14A0=C4��� G� A42814� 4;� =><1A4� 34� 38BC0=2802APC820$NB� 0;;N� 34� ;0� 38BC0=280� 2APC820�� =>� B4� 30� ;038B<8=D28T=� 34� �� 3�� 2030� E4H� @D4� B4� 3>1;0� ;038BC0=280�� G0� @D4� 4=CA0� 4=� 9D46>� D=� B46D=3>2><?>=4=C4� 34� ?A4B8T=� B>=>A0 4;� 20<?>A4E4A14A0=C4� @D4� 4=� ;0B� B>=>A8H028>=4B� 0;� 08A4;81A4�=>�4BCN�?A4B4=C4�;�BD?4A0A�;0�38BC0=280�2APC820�;0�20;8303�B>=>A0�34D=0�0D3828T=�4B�<DG�3458284=C4��?>A�4BC4�<>C8E>�4;CO2=82>� B84<?A4� 3414� 8=C4=C0A� 8=2A4<4=C0A� 4BC038BC0=280� ,=0� 34� ;0B� 5>A<0� 34� 2>=B46D8A;>�� 4B<4380=C4� ;0� DC8;8H028T=� 34� 0;C0E>24B� <DG38A4228>=0;4B�� B8� B4� 2>=24=CA0� ;0� ?>C4=280� 34;B8BC4<0� 4=� D=0� H>=0� 2>=� 6A0=� 20?028303� 3401B>A28T= 2><>� ;>�4B� ;0�>2D?030�?>A�4;�?U1;82>

4;�B>=83>�38A42C>�4B�?A43><8=0=C4�0�<0G>A�38BC0=280��BC>�BD2434�?>A�3>B�A0H>=4B�1NB820B��#0�<0G>A�?0AC434�4=4A6P0�4BCN�2>=24=CA030�4=��D=0�H>=0�34C4A<8=030��G�4=�2>=B42D4=280��4B�<DG�?>20�;0�4=4A6P0�02UBC820@D4� 4B� A45;49030� ?>A� ;0B� ?0A434B� G� 4;� C427>� 34;� ;>20;�� >A868=N=3>B4� D=� 20<?>� A4E4A14A0=C4� 2>=� D=0� 10908=C4=B8303��=�;0�8;DBCA028T=�=I���B4�4B@D4<0C8H0�4BC4�7427>

�#��&%+)&#����#��)�*',�*+��+&%�#�=�4;�20?8CD;>�0=C4A8>A�B4�<4=28>=0�2><>�20;81A0A�D=�B8BC4<0�34�0<?;8582028T=��2>=�4;�0DF8;8>�34;�AD83>�A>B0�G4B?4280;<4=C4�2>=�D=�0=0;8H03>A�34�4B?42CA>�4=�C84<?>�A40;

'0A0�4@D8;81A0A�4;�4B?42CA>�C>=0;�4=�D=�B8BC4<0�34�0<?;8582028T=�@D4�CA01090�4=�D=�A428=C>�24AA03>��B4�B86D4?AN2C820<4=C4� 4;� <8B<>� B8BC4<0� ,=� 42D0;8H03>A� 6AN582>�� 2>=� D=0� B4?0A028T=� 34� ;��� >2C0E0� 4=CA4� BDB2DAB>A4B��B4�B8CU0�9DBC>�0=C4B�34�@D4�;0�B4R0;�E0G0�70280�;>B�58;CA>B�02C8E>B�G�;0B�4C0?0B�*4�64=4A0�4;�AD83>A>B0�G�B4�7024�?0B0A�0�CA0EOB�34;�B8BC4<0��>1B4AE0=3>�0�CA0EOB�34;�0=0;8H03>A�34�4B?42CA>�2DN;4B�B>=� ;0B10=30B� 34� 5A42D4=280B� @D4� 4BCN=� ?>A� 4=28<0� G� ?>A� 34109>� 34;� =8E4;� 34� A454A4=280� �>=� 4;� 42D0;8H03>A� B42>AA864=� 4BC0B� 3854A4=280B�� 70BC0� @D4� B4� >1B4AE0� D=0� A4B?D4BC0� C>=0;� 34;� B8BC4<0� 34� 0<?;8582028T=BD58284=C4<4=C4�?;0=0�0G�@D4�C4=4A�?A4B4=C4�@D4�;0B�5A42D4=280B�?>A�4=28<0�34� ��"7H�4B�=>A<0;�@D4�4F?4A8<4=C4=�D=0�20P30BD24B8E0�� G� @D4� 0BP� B40� A468BCA03>� 4=� 4;� 4B?42CA>� 6AN582>� 34;� 0=0;8H03>A� �;;>� 4B� 34183>� 0� ;0� 01B>A28T=?A454A4=C4�@D4�A40;8H0=�;0B�?0ACP2D;0B�34;�08A4�2>=�;0B�5A42D4=280B�<NB�0;C0B��G�=>�4B�?A428B>�A40;H0A;0B�4=�4;42D0;8H03>A�<NB�34�;>�=424B0A8>���86DA0���

�0;81A0A� D=� B8BC4<0� 34� 4BC0� 5>A<0�� 4=� D=� ;>20;� 24AA03>�� ?4A<8C4� 2>=CA>;0A G� ;D46>� 2>AA468A� ;>B� ?82>B� 34A4B?D4BC0�B>=>A0��@D4�B4�>A868=0=�34183>�0�;0B�A45;4F8>=4B�@D4�B4�?A>3D24=�4=�;0�4BCAD2CDA0�34;�?A>?8>�;>20;�D0=3>�B40�?>B81;4��G�4=�4B?4280;�2D0=3>�B4�E0G0=�0�4542CD0A�E0A8>B�2>=284AC>B�4=�D=�<8B<>�A428=C>��B43414� 8=C4=C0A�2>AA468A�2D0;@D84A�34B4@D8;81A8> 02UBC82>�@D4�?A4B4=C4�4;� ;>20;��BP�?>A�494<?;>��B8�D=� A428=C>?A4B4=C0�D=0� A4B?D4BC0�4F064A030�0� ;0B� 5A42D4=280B�2><?A4=3830B�4=CA4�����G� �����H�� G�=>�4B�?>B81;409DBC0A;0B�2>=E4=84=C4<4=C4�2>=�4;�42D0;8H03>A�6AN582>��B4AN�?A428B>�2>;>20A�<0C4A80;4B�01B>A14=C4B�4=�4;8=C4A8>A�34;�;>20;��BC>B�<0C4A80;4B�3414=�01B>A14A��2>=�?A454A4=280��;0B�5A42D4=280B�<4380B�1090B��?0A0�@D40BP�B40=�UC8;4B�4=�;0�A4B>;D28T=�34�;0�014AA028T=�02UBC820�@D4�?A4B4=C0�4;�A428=C>�<4=28>=03>#0�38B?>B828T=�34�C>3>B�;>B�<0C4A80;4B�@D4�C4=60=�D=0�4B?4280;�8=2834=280�4=�;0�01B>A28T=�B>=>A0�3414�B4A?A4E80<4=C4�20;2D;030��>=24=CA0A�4BC>B�<0C4A80;4B�4=�D=0�U=820�?0A43�34�D=�A428=C>�=>�50E>A424AN��4=�;><NB� <P=8<>�� 0;� 4@D8;81A8>� 02UBC82>� 34;� <8B<>� �=� D=0� B0;0� 3>=34� ;0� <0G>A� ?0AC4� 34� 01B>A14=C4B� 4BCO=B8CD03>B�4=�D=0�U=820�BD?4A58284��=>B�4=2>=CA0A4<>B�2>=�@D4�0;�34B?;0H0A=>B�34�D=�;D60A�0�>CA>�20<180AN==>C01;4<4=C4�;0B�2>=3828>=4B�34�;0�0D3828T=��30=3>�D=0�B>=>A8303�<DG�8AA46D;0A,=0�=>A<0�?AN2C820�0�B46D8A�4B� ;0�34� CA>240A��4=� ;>�?>B81;4�� ;>B�<0C4A80;4B�>�?0=4;4B�01B>A14=C4B�@D4�B438B?>=60=��G0�@D4�0BP�4542CD0AN=�<49>A�BD�5D=28T=��B�?A454A81;4�2>;>20A�>27>�?0=4;4B�02UBC82>B�34���<4CA>B2D03A03>B�38BCA81D83>B�?>A�C>30�;0�B0;0��@D4�D=�BT;>�?0=4;�34� ��<��4=�D=0�U=820�BD?4A58284

+0<18O=�4B�?>B8C8E>�4E8C0A�4;�?0A0;4;8B<>�4=CA4�;>B�494B�34�?A>G4228T=�B>=>A0�34�;>B�0;C0E>24B�G�;0B�?0A434B�G0�@D4�B8�4BC0B�?0A434B�B>=�A45;42C0=C4B�30AN=�;D60A�0�A41>C4B�2ADH03>B�34�B>=83>��G�0?0A424AN=�;0B�C4<830B>=30B�4BC028>=0A80B

#�*�&%��*��*+�� &%�) �*,=>�34�;>B�54=T<4=>B�<NB�2DA8>B>B�@D4�B4�?D434�30A�3DA0=C4�;0�A4?A>3D228T=�B>=>A0�4=�A428=C>B�24AA03>B�4B�;0�5>A<028T=�34�;0B�34=><8=030B�>=30B�4BC028>=0A80B#0�0?0A828T=�34�4BC0B�>=30B�C84=4�;D60A�2D0=3>�3>B�5A4=C4B�34�>=30�2>=�D=0�<8B<0�5A42D4=280 B4�34B?;0H0=4=�B4=C83>�>?D4BC>��34183>�0�@D4�D=0�34�;0B�>=30B�B4�70�A45;4903>�4=�D=0�?0A43�34;�A428=C>��;�A4BD;C03>�4B;0� 5>A<028T=�34�H>=0B�3>=34�4;�08A4�B4�E4�B><4C83>�0�2><?A4B8>=4B�G�4F?0=B8>=4B�2>=BC0=C4B�@D4�=>�B434B?;0H0=��G�@D4�B4�4=2D4=CA0=�B4?0A030B�4=CA4�B8�?>A�;0�<8C03�34�;0�;>=68CD3�34�>=30�34;�B>=83>�=�;0�586DA0�=I���B4�<D4BCA0�;>�@D4�BD2434�2D0=3>�D=�B>=83>�2>=�D=0�5A42D4=280�34C4A<8=030�B4�A45;490�4=D=�<DA>��D0=3>�;>B�?D=C>B�3>=34�;0�?A4B8T=�4B�<NF8<0�2>8=2834=��G0�@D4�B4�4=2D4=CA0=�4;�B>=83>�38A42C>�G4;� A45;4903>�� 4BC0� 5A42D4=280� B4� >G4� <D27>� <NB� 5D4AC4�� <84=CA0B� @D4� 2D0=3>� B>=� ;>B� ?D=C>B� 34� ?A4B8T=<P=8<0� ;>B� @D4� 2>8=2834=�� 4;� B>=83>� B4� 4B2D270� <DG� 3418;<4=C4� *8� =>B� 024A20<>B� >� =>B� 0;490<>B� 34;<DA>�� ?>3A4<>B� ?4A2818A� 0D38C8E0<4=C4� 4BC4� 54=T<4=>�� ?D4B� B46U=� 3>=34� =>B� 4=2>=CA4<>B� B4� >8AN� <NB5D4AC4�>�<NB�5;>9>�'0A0� 4542CD0A� ;0� 2><?A>1028T=� 0D38C8E0� 34� ;0� ?>B81;4� 4F8BC4=280� 34� >=30B� 4BC028>=0A80B�� 4B� 2>=E4=84=C4DC8;8H0A�C>=>B�?DA>B��@D4�?D434=�B4A�64=4A03>B�34B34�;0�?A>?80�<4B0�34�<4H2;0B

#0� 5>A<028T=� 34� 4BC0B� >=30B� 3414� B4A4E8C030� 4=� 2D0;@D84A� 38B4R>� 02UBC82>�� G0@D4�34�;>�2>=CA0A8>�=>B�?>34<>B�4=2>=CA0A2>=�H>=0B�3>=34�;0�B>=>A8303�B40�<0G>A�><4=>A� @D4� 4=� 4;� A4BC>� 34;� 0D38C>A8>� �BC>B86=85820� @D4� 2D0;@D84A� <>E8<84=C>� 34;>G4=C4� BD?>=60� D=� 20<18>� 1ADB2>� 4=� BD?4A24?28T=� 34� ;0� 8=C4=B8303� B>=>A0�� 4B3428A� @D4� 4F8BC0=� 8<?>AC0=C4B� 3854A4=280B34�=8E4;�02UBC82>�4=�D=�<8B<>�A428=C>'0A0� 8<?438A� ;0� 0?0A828T=� 34� ;0B� >=30B4BC028>=0A80B� B4� BD4;4� A42DAA8A� 0� ;02>;>2028T=� 34� ?0=4;4B� 01B>A14=C4B� >2>AC8=094B��G�C0<18O=�4E8C0=3>�4=�;>�?>B81;4@D4� 4;� 494� 34� ?A>G4228T=� 34� ;>B� 0;C0E>24B38B2DAA0� ?0A0;4;>� >� ?4A?4=382D;0A� 0� ;0B?0A434B�34;�A428=C>

�)��,�%� �� ��� )�*&%�%� �� ��� ,%)�� %+&�=�?A8=28?8>��;0B�2>=B834A028>=4B�@D4�CA0C0=34�2T<>�4E8C0A�;0�A40;8<4=C028T=�02UBC820�0;08A4� ;81A4� B>=� EN;830B� C0<18O=� 4=� D=� ;>20;24AA03>� %>� >1BC0=C4�� 4;� 20<?>A4E4A14A0=C4�@D4�B4�5>A<0�4=��C>3>�A428=C>24AA03>�� 0542C0� 0� ;0� C4=34=280� 0� @D40?0A4H20� ;0� A40;8<4=C028T=� 34183>� 0� ;00?0A828T=�34�5A42D4=280B�A4B>=0=C4B��BC0B5A42D4=280B�B>=�;0B�@D4�5>A<0=�;>B�?82>B�4=

4;� 0=0;8H03>A� 34� 4B?42CA>�� 2D0=3>� B4� 4542CU0=� ;0B� ?AD410B� 34� 20;81A028T=� 2>=� AD83>� A>B0�� G� B>=� D=0B5A42D4=280B�0�;0B�@D4�4;�A428=C>�50E>A424�4=�BD�?A>?06028T=�;�7427>�34�@D4�2030�A428=C>�C4=60�D=0B�5A42D4=280B�34�A4B>=0=280�4=�?0AC82D;0A�G�=>�>CA0B��B4�3414�0� ;0?A>?80� 64><4CAP0� 34;� ;>20;�� 0� ;>B� <0C4A80;4B� 2>=� @D4� 4BCN� 2>=BCAD83>�� G� 0;� ;D60A� 34� 2>;>2028T=� 34� ;0<82A>5>=P0��B�01B>;DC0<4=C4�=424B0A8>�34B2D1A8A�2DN;�4B��4=�2030�;>20;��;0�5A42D4=280��T�5A42D4=280B��3>=344;� A428=C>� 4=CA0� 4=� A4B>=0=280�� G0�@D4�34� ;>� 2>=CA0A8>��?>3AN�>A868=0A� 5N28;<4=C4�D=� ;0H>�4=CA4�0;C0E>24B�G<82AT5>=>B 02UBC820<4=C4�701;0=3>�@D4�?A>E>20AN�D=0�A40;8<4=C028T=�34�385P28;�B>;D28T=�0G�3>B�<0=4A0B�<DG�2><D=4B�?0A0�A43D28A�;0B�5A42D4=280B�34�A4B>=0=280�,=0�34�4;;0B�4B�20<180=3>�34?>B828T=�;>B�<82AT5>=>B��?A>10=3>�38BC8=C0B�>A84=C028>=4B��G�;0�>CA0�4B�DC8;8H0=3>�58;CA>B�34�10=30�4BCA4270��34 ���34�>2C0E0�0� � ��34�>2C0E0���@D4�=>B�?4A<8C8AN=�A43D28A�;0�60=0=280�34�;0�5A42D4=280�?A>1;4<NC820��D=0E4H�4BCO�;>20;8H030���86DA0�����BC0�B46D=30�>?28T=�4B�;0�<NB�B46DA0��?4A>�70G�@D4�C4=4A�4=�2D4=C0�@D4�;0

5A42D4=280� 34� A4B>=0=280� ?D434� E0A80A� B8� E0AP0=� ;0B�2>=3828>=4B�34� C4<?4A0CDA0�G�7D<4303�4=�4;� ;>20;�� G20<180A�;864A0<4=C4�34�E0;>A��BP�@D4�B4AN�2>=E4=84=C4�2>=C0A�2>=�D=�<0A64=�34�B46DA8303�4=�4;�58;CA>�>�4=4;� 42D0;8H03>A� �BP� B8� ;0� 5A42D4=280� 3>=34� B4� ?A>3D24� ;0� A40;8<4=C028T=�4B ?>A�494<?;>�34������H�� B4AN2>=E4=84=C4�A43D28A�;0�60=0=280�34�C>30B�;0B�5A42D4=280B�B8CD030B�4=CA4������H�G� �����H��0<10B�0� ���34>2C0E0�34������H��<84=CA0B�@D4�;0�5A42D4=280�34������H�B4AN�;0�@D4�BD5A0�D=0�<0G>A�A43D228T=,=�20<?>�34�A4E4A14A028T=�385DB>�C0<18O=�?D434�0542C0A�0�;0�A40;8<4=C028T=�34�D=�B8BC4<0�34�?>C4=280�4=D= A428=C>� 24AA03>� ,=0� 1D4=0� 5>A<0� 34� A43D28A� BDB� 4542C>B� 4B� 4;� 2>;>20A� 2>AC8=094B� >� <0C4A80;4B01B>A14=C4B� 0;A4343>A� 34� 3>=34� 4BCN� ;0� <82A>5>=P0�� >� E824E4AB0� �2>;>20A� ;0� <82A>5>=P0� 4=� D=� NA40� 2>=01D=30=280�34�2>AC8=094B�>�<0C4A80;4B�01B>A14=C4B�

�&#&��� K%����#�*���!�*���M*+ ��*#0B�8=382028>=4B�@D4�B4�30=�A4B?42C>�0�;0�2>;>2028T=�34�2090B�02UBC820B�4=�4FC4A8>A4B�C0<18O=�B>=�EN;830B2D0=3>�B4�CA0C0�34�A428=C>B�24AA03>B��?4A>� ;0�B8CD028T=�4B�0;6>�<NB�2><?;490�?>A�;0�?A4B4=280�34�38E4AB0BBD?4A58284B�A45;490=C4B%>A<0;<4=C4�@D4A4<>B�@D4�4;�B>=83>�@D4�4=CA460�4;�B8BC4<0�B40�34�D=0�2;0A8303�0�C>30�?AD410��G�C0<18O=4B�;T682>�4;�34B4>�34�C4=4A�4;�<0G>A�2>=CA>;�?>B81;4�B>1A4�4;�B>=83>�>1C4=83>��BC0B�3>B�?A4<8B0B�8<?;820=@D4� ;0� 38BC0=280�2APC820�@D4�3414�7014A� B40� ;0�<NF8<0�?>B81;4�� G0�@D4�4BC>�B86=85820� A43D28A�4;� 20<?>�34A4E4A14A028T=�� G� 4=� 2>=B42D4=280�D=0�?0AC4�<0G>A8C0A80�34� ;0�0D384=280� A42818AN�?A8>A8C0A80<4=C4�4;� B>=83>38A42C>��<84=CA0B�@D4�4;�A45;4903>�C4=3AN�D=0�8<?>AC0=280�<DG�A4;0C8E0�4=�4;�A4BD;C03>�02UBC82>�58=0;�=� C>3>� 20B>� 4;� 4<?;0H0<84=C>� G� ;0� 38A4228T=� 3>=34� 0?D=C0=� ;0B� 2090B� 02UBC820B� C84=4� D=0� 8<?>AC0=2805D=30<4=C0;�?0A0�0<?;80A��34=CA>�34�;>�?>B81;4��;0�38BC0=280�2APC820�@D4�B4�>1C4=60�8A868A�4;�494�38A4228>=0;�34�;>B�0;C0E>24B�70280 ;0�H>=0�>2D?030�?>A�4;�?U1;82>�4B�B84<?A4�D=0�1D4=0�<43830�G0�@D4�;0B�?4AB>=0B�02CU0=�2><>�01B>A14=C4B�02UBC82>B��G�B4�A43D24�4=�2>=B42D4=280�4;��B>=83>�@D4�E0�0B4A�A45;4903>�4=�;0B�?0A434B�G�C427>'0A0� ;>6A0A� D=0� 1D4=0� 38BCA81D28T=� 34� ;0� ?>C4=280� B>=>A0� 38B?>=81;4�� 4B� 02>=B4901;4� 38A868A� ;0B� 2090B02UBC820B�70280�4;�?D=C>�B8CD03>�4=�;>B�����34�;0�H>=0�>2D?030�?>A�4;�?U1;82>��0� ���34;�58=0;�34�4BC0�H>=0��BP;0�B>=>A8303�4=CA4�4;�4B24=0A8>�G�<NB�0;;N�34� ;0�<8C03�34� ;0�0D384=280�B4AN�10BC0=C4�?0A42830��G�0;6>�<NBA43D2830�4=�;0�?0AC4�CA0B4A0�34�;0�0D384=280��;>�2D0;�4B�10BC0=C4�=0CDA0;��4�7427>��E0A80B�?4AB>=0B�?A4584A4=B8CD0AB4� 4=� ;0B� ?0AC4B� <NB� 0;49030B� 34;� 4B24=0A8>�� ?>A@D4� ;0� ?>C4=280� B>=>A0� 4B� 0;6>� <NB� A43D2830�� 4=4B?4280;�3DA0=C4�;>B�2>=284AC>B�34�A>2:�3DA>�=� 2D0;@D84A� 20B>�� B4AN� 8=C4A4B0=C4� @D4� ;0� ?0A43� 2>=CA0A80� 0;� � 4B24=0A8>� C4=60� 0;6U=� C8?>� 34� CA0C0<84=C>02UBC82> 2>AC8=094B�>�<0C4A80;4B�01B>A14=C4B��G0�@D4�0BP�B4�A43D28AN=�;>B�A45;49>B�B>=>A>B

+ '&*����$&% +&)�*

#>B� <>=8C>A4B� 34� 4B24=0A8>� B>=� B8BC4<0B� 2><?;4<4=C0A8>B� 34� B>=83>� >A84=C03>B� 70280� ;>B� <UB82>B�?4=B03>B� ?0A0� 4=CA460A� 0� 2030� 8=COA?A4C4� ;0B� B4R0;4B� 34� ;>B� 8=BCAD<4=C>B� @D4� 34B44=� 4B2D270A� 0� D=>B=8E4;4B�0342D03>B�;�?A>?TB8C>�34�D=�B8BC4<0�34�<>=8C>A094�4B�@D4�;>B�<UB82>B�B4�?D430=�4B2D270A�184=�4=CA4�4;;>B��0�D=�=8E4;34�E>;D<4=�BD58284=C4��@D4�=>�3414�B4A�=8�34<0B803>�0;C>�=8�34<0B803>�109>%>�4B�0342D03>�B>1A438<4=B8>=0A�4;�B8BC4<0�34�<>=8C>A094��G0�@D4�0D<4=C0�4;�?4;86A>�34�@D4�B4�?A>3DH20;0� A40;8<4=C028T=� 02UBC820�� G� ?D434� 2>=5D=38A� 0� ;>B� ?A>?8>B� <UB82>B� �B� A42><4=301;4� DC8;8H0A� 4;� <4=>A

=U<4A>� 34� 0;C0E>24B� 34� <>=8C>A� ?>B81;4�� ;>B� 8<?A4B28=381;4B� ?0A0� @D4� C>3>B� ;>B� 8=COA?A4C4B� 4B2D274=� ;0BB4R0;4B�B>=>A0B�0�D=�=8E4;�34�E>;D<4=�0342D03>�F8BC4=�38E4AB0B�5>A<0B�34�0;C0E>24B�34�<>=8C>A��B84=3>�;0�<NB�2><U=�;0�34�C8?>�2DR0��@D4�B4�B8CU0�4=�4;BD4;>�G�4=�N=6D;>�2>=�A4B?42C>�0;�<UB82>�#0B�2DR0B�34�4B24=0A8>�3414=�C4=4A�D=�?0CAT=�34�38A4228>=0;8303<DG�2D8303>��34�<0=4A0�@D4�BD�2>14ACDA0�?D430�B4A�?A428B030�2>=�4F02C8CD3�G�=> 4F8BC0�B>;0?0<84=C>�4=CA44;;0B�;� <>=8C>A094� 34� ;0� 10C4AP0� =>� BD4;4� 7024AB4� 2>=� D=0� 2DR0� 34� 4B24=0A8>� CP?820�� B8=>� <NB� 184=� 2>=E84=42>=C0A�2>=�<>=8C>A4B�E4AC820;4B�@D4�?D430=�B8CD0AB4�0�;0�0;CDA0�34�;0�2014H0�34;�?4A2DB8>=8BC0��BC4�<>=8C>A�;;0<03> ���������� 3414� C4=4A� D=� C0<0R>� A43D283>� G� D=0� ?>C4=280� BD58284=C4�� G0� @D4� 3414� BD?4A0A� ;0� 6A0=8=C4=B8303�B>=>A0�@D4�?A>E>20�;0�?A>?80�10C4AP0�G�;;460A�0�;>B�>P3>B�34;�<UB82>#D46>�=>B�4=2>=CA0<>B�2>=�;>B�<>=8C>A4B�34�A45D4AH>�;0C4A0;4B������������*4�BD4;4=�<>=C0A�0�0<1>B�;03>B34;�4B24=0A8>��;4E0=C03>B�34;�BD4;>�<4380=C4�0;6U=�B>?>AC4��BC>B�<>=8C>A4B�;0C4A0;4B�?D434=�2D1A8A�D=�NA40<0G>A�@D4� ;0B�2DR0B��?4A<8C84=3>�@D4�E0A8>B� 8=COA?A4C4B�4B2D274=�4;� B>=83>�34�D=0�<8B<0�2090�'D434=DC8;8H0AB4� ?0A0� A4?A>3D28A� D=0� <4H2;0� 34� E0A8>B� 8=BCAD<4=C>B�� <84=CA0B� @D4� ;0B� 2DR0B� B4� DC8;8H0=� ?0A0� ;0<4H2;0�4B?42P5820�@D4�2030�8=COA?A4C4�?A428B4�=� 0;6D=>B� 20B>B� C0<18O=� B4� DB0=� <>=8C>A4B� BDB?4=383>B� 34;� C427>�� ?0A0� 07>AA0A� 4B?028>� UC8;� B>1A4� ;04B24=0� '4A>� BD� DC8;8H028T=� 2>AA42C0� 4B� 10BC0=C4� 385P28;�� G� B>;>� 4B� A42><4=301;4� 2D0=3>� B4� CA0C0� 348=BC0;028>=4B�5890B�>�34�<>=C094B�@D4�B84<?A4�B860=�D=�<8B<>�?0CAT=�34�2>=BCAD228T=

* *+�$�*�'�)��*,') $ )�#��)��# $�%+�� K%��%��#��*��%�) &#0�?A>F8<8303�@D4�B4�30�4=CA4�;>B�<82AT5>=>B�G�;>B�0;C0E>24B�34�<>=8C>A�4B�20DB0�34�E0A8>B�?A>1;4<0B�@D40542C0=� 0� <UB82>B� G� 0� CO2=82>B�� ;;460=3>� 0� CA0B24=34A� 0;� ?U1;82>�� 2D0=3>� 4BC>B� ?A>1;4<0B� 0?0A424=A40;8<4=C028T=�02UBC820��B8;183>B�4=�;0�B4R0;��4C2�4;�CO2=82>�34�<>=8C>A4B�3414�2>=>24A C0=C>�;0�20DB0�@D4;>B�2A40�2><>�;0B�?>B81;4B�B>;D28>=4B�@D4�4F8BC4=�D0=3>� ;0� 8=C4=B8303� B>=>A0� @D4� 4=CA460=� ;>B� 0;C0E>24B� 34� <>=8C>A� =>� 4B� BD58284=C4�� ;>B� <UB82>B� C84=4=0DCO=C82>B�?A>1;4<0B�?0A0�B46D8A� ;>B�2><?0B4B�34�D=0�?84H0��G�BD� 8=C4A?A4C028T=�B4 A4B84=C4��D<4=C0A�4;E>;D<4=� 34� ;>B� 0;C0E>24B� 34� 4B24=0A8>� 4B� D=0� 1D4=0� <43830�� ?4A>� 4B� 2D0=3>� 0?0A424=� ;>B� 02>?;4B4;42CA>02UBC82>B�4=CA4�<82A>B�G�0;C0E>24B#0� DC8;8H028T=� 34� <82AT5>=>B� 20A38>834B�� 0;C0<4=C4� 38A4228>=0;4B�� 4B� 7>G� ?A424?C8E0� ?0A0� 0;490A ;0B?>B818;83034B�34�@D4�B4�64=4A4�2D0;@D84A�5>A<0�34�A40;8<4=C028T=�(D4�4;�494�34�;>B�0;C0E>24B�B8CD03>B�4=�4;4B24=0A8>�=>�0?D=C4�38A42C0<4=C4�70280�=8=6U=�<82AT5>=>�4B�>CA0�34�;0B�?A420D28>=4B�1NB820B�@D4�B4�3414=C><0A�D0=3>� B4� CA0C0� 34;� <82A>� 34� D=� 20=C0=C4� 3414=� 4FCA4<0AB4� 4BC0B� ?A420D28>=4B�� G0� @D4� ;>B� E>20;8BC0BBD4;4=� 2>64A� 4;� <82AT5>=>� 4=� BDB� <0=>B� G� 34B?;0H0A;>� ?>A� 4;� 4B24=0A8>�� 2>=� ;>�@D4�4;� 2>=CA>;� 38A4228>=0;4=CA4� 4BC4� <82A>� G� ;>B� <>=8C>A4B� @D430� 4=� BDB?4=B>� '>A� >CA>� ;03>�� B8� 4;� 20=C0=C4 2D1A4� ?0A280;<4=C4� ;0<4<1A0=0� <82A>5T=820�� G0� B40� 2>=� BD� ?A>?80� <0=>� >� ?>A@D4� B4� ;>� 024A20� 34<0B803>� 0� BD� 1>20�� 4BC4<82AT5>=>�?D434�3490A�34�02CD0A�34� 5>A<0�D=838A4228>=0;�G� C><0A�20A02C4APBC820B�><=838A4228>=0;4B��2>=� ;>@D4�;0�?>B818;8303�34�@D4�0?0A4H20=�02>?;4B�0D<4=C0�F8BC4=� CA4B� 5>A<0B� 10BC0=C4� 2><D=4B� ?0A0� A43D28A� ;0� ?>B818;8303� 34� @D4� 0?0A4H20� 2D0;@D84A� 5>A<0� 34A40;8<4=C028T=�4=�D=�4B24=0A8>��G�B>=�;0B�@D4�0�2>=C8=D028T=�B4�4B?4285820=�

�� ������ ��������������=�E0A8>B�20B>B�8=E4AC8A� ;0�50B4 34�;0�B4R0;�34;�<82A>��>�184=�34;�0;C0E>H�34�<>=8C>A�?D434�B4AE8A�?0A0�4;8<8=0A�;0�0?0A828T=�34�2D0;@D84A�02>?;4�'0A0�8=E4AC8A�;0�?>;0A8303�34�;0�B4R0;�@D4�4=CA4604;�<82AT5>=>�4B�BD58284=C4�2>=�DC8;8H0A�4;�2>=<DC03>A�34�8=E4AB8T=�34�50B4��@D4�BD4;4=�;;4E0A�;>B�20=0;4B�344=CA030� 34� ;0B� <4B0B� 34� <4H2;0�� >� 184=� 8=C4A20<180=3>� ;>B� 2>=3D2C>A4B� @D4� ;;4E0=� ;0� B4R0;�34;�<82A>�0;2094CP=�34�2>=4F8>=4B+0<18O=�4B� 502C81;4� 8=E4AC8A� ;0� 50B4�34;�0;C0E>H�34�<>=8C>A�20<180=3>� ;0�?>;0A8303�34� ;>B�201;4B�34�20A60�4=CA4�;0�B0;830�34�;0�4C0?0�G�;0�4=CA030�34;�0;C0E>H��BC0�B46D=30�>?28T=�4B�=>A<0;<4=C4�;0�<NB�8=382030��G0@D4�B8�B4�8=E84AC4�34�50B4�;0�B4R0;�?A>2434=C4�34;�<82A>��OBC0�?D430�@D430A�A43D2830�>�20=24;030�0;�D=8AB44=� ;0� <4B0� 2>=� >CA0B� B4R0;4B�� G0� @D4� OBC0B� >CA0B� 4BC0AN=� ?>;0A8H030B� =>A<0;<4=C4�� G� ?D434=� 0542C0AA43D284=3>�4;�E>;C094�34�;0�B4R0;�@D4�4BCN�4=�50B4�>?D4BC0

�����!�������������>;>20A�D=0�D=8303�34�A4C0A3>�4=CA4�;0�B0;830�34�20=0;�G�4;�0<?;858203>A�@D4�0;8<4=C0�0;0;C0E>H� 34� <>=8C>A�4B�>CA0�>?28T=�0�2>=B834A0A�,=� C84<?>�34� A4C0A3>�B8CD03>�4=CA4����G����<8;8B46D=3>BBD4;4�B4A�B0C8B502C>A8>�?0A0�4;�<UB82>��G�BD58284=C4�?0A0�@D4�;0�B4R0;�@D4�4<4A64�34;�0;C0E>H�=>�2>8=2830�2>=;0�@D4�20?C0�4;�<82AT5>=>��4E8CN=3>B4�0BP�;0�A40;8<4=C028T=�4=CA4�0<1>B

������������������������������������������������������!��������BC4�4B�4;�B8BC4<0�@D4�<NB�B4�DC8;8H02D0=3>�B4�A4@D84A4�C4=4A�D=0�?>C4=280�34�<>=8C>A094�2>=B834A01;4��G�A43D28A�0;�<P=8<>�2D0;@D84A�?A>1;4<034�A40;8<4=C028T=�0=C4B�34�@D4�BDA90

%>� >1BC0=C4� B4� CA0C0� 34� D=� B8BC4<0� 0;6>� 2>BC>B>�� G0� @D4� B4� A4@D84A4� 8=B4AC0A� C>30� D=0� 10C4AP0� 3442D0;8H03>A4B�4=CA4�;0�<4B0�34�<>=8C>A4B�G�;0B�4C0?0B�34�?>C4=280��2>;>20A�D=�42D0;8H03>A�6AN582>�?0A0�20300;C0E>HJ(DO�10=30B�34�5A42D4=280�B>=�;0B�@D4�3414=�B4A�A43D2830B�4=�2030�20B>���=�?A8<4A�;D60A�70G�@D4�C4=4A4=� 2D4=C0� @D4� 2030� 2>=9D=C>� <82AT5>=>�0;C0E>H� 34� <>=8C>A� 2>AA4B?>=384=C4� ?A4B4=C0� D=0B� � 5A42D4=280B?0AC82D;0A4B� 4=� ;0B� @D4� B4� ?D434� >A868=0A� 4;� 02>?;4� 4;42CA>02UBC82>�� G� @D4� 4BCN=� 4=� 5D=28T=� 34� ;0B20A02C4APBC820B�38A4228>=0;4B�34�2030�CA0=B3D2C>A�G�34;�8=BCAD<4=C>�@D4�20?C4=�G�A4?A>3DH20=�BP�@D4�B4AN�?A428B>�B8CD0A�<82A>�G�0;C0E>H�4=�BD�;D60A�4=�4;�4B24=0A8>��G�0D<4=C0A�?A>6A4B8E0<4=C4�4;�=8E4;34� 0<?;8582028T=� 70BC0� @D4� ;0� A40;8<4=C028T=� 0?0A4H20� �=C>=24B�� 2>=� 4;� 0DF8;8>� 34� D=� 0=0;8H03>A� 344B?42CA>�� �>� 4=� BD� 34542C>� 2>=� ;>B� >P3>B� 34� D=� CO2=82>� 4F?4AC>�� 70G� @D4� 70;;0A� 2DN;� 4B� 4;� 6AD?>� 345A42D4=280B�3>=34�B4�?A>3D24�;0�A40;8<4=C028T=��G�1090A�4;�2DAB>A�2>AA4B?>=384=C4�4=�4;�42D0;8H03>A�6AN582>�3490=3>�4;�A4BC>�34�5A42D4=280B�2>=�A4B?D4BC0�?;0=0��&�3���=�?A8=28?8>�� A43D284=3>�D=>B���3��34;�6AD?>�34� 5A42D4=280B� A4B?>=B01;4�34� ;0� A40;8<4=C028T=��OBC0� C84=4@D4� 34B0?0A424A� *8� =>� BD2434� 0BP� 4B� @D4� =>B� 74<>B� 4@D8E>203>�� G� 70G� @D4� B46D8A� 1DB20=3>� 4;� 2DAB>A2>AA42C>,=0�E4H�B4�70� ;>6A03>�4;8<8=0A�4;�02>?;4�02UBC82>��70G�@D4�E>;E4A�0� 8=2A4<4=C0A�4;�=8E4;�34�0<?;8582028T=�

70BC0� @D4� ED4;E0� 00?0A424A� ;0A40;8<4=C028T=� �=C>=24BB4� 02CU0� 34� ;0� <8B<05>A<0�� 1DB20=3>� ;0B5A42D4=280B� A4B?>=B01;4B�@D4� ?D434=� B4A� ;0B<8B<0B� 34� 0=C4B� >� =>�� GA43D28A� BD� 60=0=280<4380=C4�4;�42D0;8H03>A�4=>CA>B� �� 3�� 70BC0� @D4� 4;02>?;4�34B0?0A4H20�2CD0=3>� 34� ;0� <8B<05>A<0�2>=�C>30B�;0B�;P=40B34�<>=8C>A094��B4�2>=B86D4?>34A�0D<4=C0A�4;�=8E4;�340<?;8582028T=� 34;� B8BC4<04=CA4� � G� �� 3��� 034<NB34� A43D28A� 0;� <P=8<>2D0;@D84A� ?A>1;4<0� 34A40;8<4=C028T=� 4=CA4<82A>B�G�<>=8C>A4B�B� 10BC0=C4� 2>=E4=84=C4

DC8;8H0A�42D0;8H03>A4B�6AN582>B�34� ���34�>2C0E0��G0�@D4�B8�B4�CA01090�2>=�<>34;>B�3>=34�;0�38BC0=280�4=CA42030�6AD?>�34�5A42D4=280B�4B�BD?4A8>A��34� �>2C0E0�>�34� ���>2C0E0��4;�B>=83>�@D4�BDA64�?>A�;>B�0;C0E>24B�34B?DOB�34�A43D28A�;0B�10=30B�2>AA4B?>=384=C4��4B�<DG�38BC8=C>�34;�>A868=0;��?D384=3>�34B?8BC0A�0;�<UB82>�34<NB� ;0� 10=30� 34� 5A42D4=280B� A4B?>=B01;4B� 34� ;0B� CP?820B� B8CD028>=4B� 34� A40;8<4=C028T=� 4B� 10BC0=C44BCA4270�� G�=>�4B�=424B0A8>� A43D28A�10=30B�34� 5A42D4=280B�<NB�0=270B��G0�@D4�B4�?D434� �38BC>AB8>=0A�4;<4=B094�<DB820;�>A868=0;���86DA0����=�0;6D=>B�20B>B�?D434�B4A�BD58284=C4�2>=�02C8E0A�;>B�58;CA>B�34�5A42D4=280��@D4 ?D430=�;;4E0A�4;�<82A>�>�4;20=0;�34�;0�<4B0�34�<4H2;0B��?0A0�A43D28A�284AC>B�AD83>B�@D4�?D430=�0?0A424A�4=�4;�4B24=0A8>��2><>�B>=�4;AD<>A�6A0E4�@D4�0�E424B�?A>E>20�4;�4=C0A8<03>��4;�E84=C>�� ;0B�2>=B>=0=C4B�4F?;>B8E0B�>�B818;0=C4B��?�C�B�5�?A>=D=28030B� 34<0B803>� 24A20� 34� ;0� <4<1A0=0� <82A>5T=820�� 4C2� ,C8;8H0A� 4BC>B� 58;CA>B� ?0B00;C>B� >?0B0109>B�B4AN�2>=E4=84=C4��4=�>20B8>=4B��?0A0��;8<?80A��4;�<4=B094�4BCA82C0<4=C4�<DB820;�@D4�3414�BDA68A34;�0;C0E>H�34�<>=8C>A�0G�@D4�2>=B834A0A��58=0;<4=C4��@D4�D=0�E4H�B4�70�4@D8;81A03>�D=�B8BC4<0�34�<>=8C>A094��G�B4�70�A43D283>�4;?4;86A>� 34� A40;8<4=C028T=� 6A0280B� 0;� DB>� 34� 2D0;@D84A0� 34� ;>B� B8BC4<0B� 28C03>B�� 3414A4<>B� 2><?A>10A� 4;1D4=� 5D=28>=0<84=C>�34;�<8B<>�2030�E4H�@D4�B4�20<180�34�4B24=0A8>��G0�@D4� ;0B�2>=3828>=4B� 5PB820B�34;<8B<>�C84=4=�D=0�=>C01;4�8=5;D4=280�4=�;0�0?0A828T=�34�;0�A40;8<4=C028T=�02UBC820

���������� ��������������������

�('+�*��*+(����"�#%$�*%(� �"0�2><?>B828U=�34�D=�B8BC4<0�34�<>=8C>A4B�H�BD�5>A<0�34�0?;82028U=�?AO2C820�C84=4�D=0�8<?>AC0=280�3428B8E0?0A0�@D4� ;>B� 8=C46A0=C4B�34�D=0�10=30� A40;824=�BD� CA0109>�0�6DBC>�� 2>=� ;0�BD58284=C4�2><>38303�?0A0�@D4?D430=�30A�D=�A4=38<84=C>�0ACQBC82>�?;4=>�H�B8=�58BDA0B"0�8<?>AC0=280�@D4�;0B�<49>A4B�10=30B�34;�<D=3>�2>=2434=�0;�B8BC4<0�34�<>=8C>A094�H�0�;>B�CP2=82>B�@D4�;><0=490=�=>�4B�20BD0;��H0�@D4�B014=�@D4�A4BD;C0�3428B8E0�4=�C>30B�BDB�0?0A828>=4B�4=�38A42C>�">B�<VB82>B4G?4AC>B� B014=� ?4A542C0<4=C4� @D4� ;0� 0?0A828U=� 34� 50;;>B� 4=�4;�<>=8C>A094� A4?4A2DC4� =460C8E0<4=C4� 4=� BDCA0109>�20A0�0;�?V1;82>��?>A�4BC>�2>=2434=�D=�CA0C>�?A8>A8C0A8>�0�BD�A4;028U=�2>=�;>B�CP2=82>B�34�<>=8C>A4B��D=1D4=�4=C4=38<84=C>�4=CA4�0<1>B�50E>A424�;0�1D4=0�<0A270�34;�2>=284AC>">B�4;4<4=C>B�@D4�8=C46A0=�4;�B8BC4<0�34�<>=8C>A4B�4BCO=�4=�5D=28U=�34�E0A8>B�502C>A4B��E40<>B�2DO;4B�B>=;>B�?A8=28?0;4B�

��;�=V<4A>�34�<VB82>B�@D4�8=C46A0=�;0�10=30�$>�4B�;>�<8B<> 38B?>=4A�4;�<>=8C>A094�34�D=�6AD?>�34�CA4B�>2D0CA>�2><?>=4=C4B��@D4�4;�34�D=0�10=30�@D4�2D4=C0�2>=�384I�>�3>24�<VB82>B

�">B�8=BCAD<4=C>B�<DB820;4B�DC8;8I03>B�+=0�10=30�3>=34�70H0�2D0CA>�?4AB>=0B�@D4�20=C4=�?A428B0AO�34�D=<>=8C>A094�<DH�4@D8;81A03>��@D4�A40;24�?>A�86D0;�;0B�2D0CA>�E>24B�+=�6AD?>�3>=34�70H0�BU;>�D=�20=C0=C4�=>C4=3AO�4BC4�?A>1;4<0�*0<18P=�4G8BC4=�=>C01;4B�3854A4=280B�4=CA4�4;�C8?>�34�<>=8C>A8I028U=�@D4�?A428B0=�;>B8=BCAD<4=C>B�4;P2CA82>B�H� ;>B�02VBC82>B��>=B46D8A�D=0�1D4=0�<>=8C>A8I028U=�34�D=0�6D8C0AA0�02VBC820�>�34D=0�5;0DC0��?>A�494<?;>��BD4;4�B4A�<OB�?A>1;4<OC82>�@D4�<>=8C>A8I0A�D=�109>�4;P2CA82>�>�D=�B8=C4C8I03>A

�"0�<>E8;8303� @D4� C4=3AO=� ;>B�<VB82>B� H� ;>B� E>20;8BC0B� �D0=3>� ;>B� 8=C46A0=C4B� 34� ;0� 10=30� =>� E0H0=� 0<>E4AB4�?>A�4;�4B24=0A8>��4;�4B?028>�02VBC82>�@D4�;>B�0;C0E>24B�34�<>=8C>A�3414=�2D1A8A�4BC0AO�;8<8C03>�0;;D60A�@D4�2030�<VB82>�>2D?4�&4A>�?0A0�@D4�;>B�<VB82>B�?D430=�<>E4AB4�;81A4<4=C4�?>A�4;�4B24=0A8>��;>B<>=8C>A4B�3414AO=�2D1A8A�C>3>�4;�4B?028>�02VBC82>�34;�<8B<>

��;� C0<0S>�34;�4B24=0A8>�*>20A�4=�D=�4B?028>�?4@D4S>�>� ;8<8C03>�C84=4�BDB�E4=C090B�4� 8=2>=E4=84=C4B�� ;0?A>G8<8303�4=CA4�E0A8>B�<82A>B�?D434�B4A�?A>1;4<OC820��?4A>�?>A�>CA>� ;03>�=>�B4�=424B8C0=�<OB�@D4�D=>B?>2>B�0;C0E>24B�34�<>=8C>A�?0A0�2D1A8A�4; 4B?028>�38B?>=81;4�"0�?>C4=280�@D4�B4�?A428B0�?0A0�<>=8C>A8I0A�D=4B24=0A8>� A43D283>� C0<18P=� 4B� <4=>A� @D4� ;0� =424B0A80� 2D0=3>� B4� <>=8C>A8I0� D=� 4B24=0A8>� 34� 6A0=34B?A>?>A28>=4B

��;�?A4BD?D4BC>�>�4;�<0C4A80;�34;�@D4�B4�38B?>=60���<4=D3>�=>B�E0<>B�0�4=2>=CA0A�2>=�4BC4�502C>A��@D4;8<8C0� 4E834=C4<4=C4� 4;� CA0109>� 34;� >?4A03>A�� ?4A>� @D4� 4;� 1D4=� ?A>54B8>=0;� 3414� BD?4A0A� 2>=� BDB2>=>28<84=C>B�H�BD� 8<068=028U=��30=3>�?A8>A8303�0�;>B�0B?42C>B�4B4=280;4B�H�34B20AC0=3>�;0B�=424B83034B<4=>B�?4A4=C>A80B

�=� ;0� 586DA0� �� B4� <D4BCA0� ;0� 38B?>B828U=� ?AO2C820� 34� D=� B8BC4<0� 34� <>=8C>A4B� 4=� D=� 4B24=0A8>� 3438<4=B8>=4B�<4380B�"0�78?>CPC820�10=30�2D4=C0�2>=�B84C4�2><?>=4=C4B���0=C0=C4��6D8C0AA0�B>;8BC0��6D8C0AA0AQC<820�� 1098BC0�� C42;8BC0�� 10C4AQ0� H� B0G>� �;� C42;8BC0� 034<OB� B4� 4=20A60AO� 34� 4542CD0A� ;>B� 2>A>B� 2>=� 4;20=C0=C4�">B�3>B�6D8C0AA8BC0B�H�4;�1098BC0�;;4E0=�2><1>B�34�0<?;8582028U=��?4A>�=>�0BQ�4;�C42;8BC0)D?>=60<>B�@D4�B4�?D434�2>=C0A�2>=�2D0CA>�<>=8C>A4B�34�BD4;>�H�2>=�3>B �����������H�@D4�4;�V=82>�<84<1A>34�;0�10=30�@D4�B4�E0�0�<>E4A�0�CA0EPB�34;�4B24=0A8>�4B�4;�E>20;8BC0�>=�C>30B�4BC0B�?A4<8B0B��B4�70�3428383>�;0�2>;>2028U=�34�;>B�0;C0E>24B�34�<>=8C>A�4=�;>B�?D=C>B�8=38203>B4=� ;0� 586DA0� "0� 8=C4=28U=� 4B� @D4� C>3>B� ;>B� <VB82>B� C4=60=� D=0� 2;0A0� A454A4=280� 34� ;>� @D4� 7024=� BDB2><?0S4A>B��?0A0�?>34A�B46D8A�4;�2><?OB�34�2030�?84I0��09DBC0=3>�BDB�02>A34B�0;�A4BC>�34;�6AD?>�BQ��4;�<>=8C>A�=K���B4AE8AO�?0A0�@D4�4;�1098BC0�4B2D274�4;�1><1>�34�?84�H�>CA>B� C0<1>A4B�34� ;0�10C4AQ0��HC0<18P=�4;�B>=83>�34�;0B�3>B�6D8C0AA0B��H�0BQ�;;4E0A�D=�?4A542C>�2>=CA>;�34;�A8C<>�)8�4;�20=C0=C4�B4�<D4E4�?>A4;�4B24=0A8>�B4AO�?A428B>�@D4�BD�E>I�C0<18P=�B0;60�?>A�4BC4�<>=8C>A&>A�4;�0;C0E>I�=K� ��B8CD03>�34;0=C4�34;�20=C0=C4�B>;8BC0��3414AO�B0;8A�;0�?A>?80�E>I�B>;8BC0��034<OB�34�;0�E>I34;�C42;8BC0�@D4�4542CV0�;>B�2>A>B��><>�4;�B>=83>�34;�109>�H�34�;0B�6D8C0AA0B�4BCO�?A4B4=C4�4=�4BC4�;D60A�34;4B24=0A8>��34183>�0�;0�?A>G8<8303�34�;>B�2><1>B��B4AO�BD58284=C4�0S038A�;0�B4S0;�34;�B0G>�H�34�;>B�C42;03>B?0A0�@D4�4;�20=C0=C4�C4=60�D=0�1D4=0�A454A4=280�34;�B>=83>�6;>10;�;�<>=8C>A�=K���3414�4=CA460A�4;�B>=83>�@D4�?A>2430�34;�109>��34�;>B�C42;03>B��H�34;�1><1>�34�?84��?0A0�@D40<1>B�6D8C0AA8BC0B�E0H0=�2>=�4;�A8C<>�)8�4;�20=C0=C4�B4�34B?;0I0�?>A�4BC0�I>=0�C0<18P=�B4AO�?A428B>�@D4�BDE>I�B0;60�?>A�4BC4�0;C0E>I�;��K�<>=8C>A�4BCO�0;I03>�B>1A4�D=�?84�<4CO;82>��D=0�20A02C4AQBC820�CQ?820�34; ����������H�4;�B>=83>�@D4�4=CA460?A>2434�34;�C42;03>�H�34;�109>��B84=3>�4=�0;6D=>B�20B>B�2>=E4=84=C4�@D4�C0<18P=�;;4E4�;0�B4S0;�34�;0B�E>24B�2><>�A454A4=280�?0A0�4;�<VB82>�;� �K� 0;C0E>I� ED4;E4� 0� B4A� D=� <>=8C>A� 34� 2DS0� �;� B>=83>� 34;� 1098BC0� B4AO� 4=� 4BC4� 20B>� ?A8>A8C0A8>�� ?4A>C0<18P=�?D434�A4?A>3D28A�4;�34�;0�6D8C0AA0�AQC<820�H�4;�34�;0B�E>24B��;�B>=83>�34;�B0G>�H�34�;>B�C42;03>B�;4;;460�6A0280B�0�;>B�<>=8C>A4B�;0C4A0;4B�;�<>=8C>A�=K���;;4E0AO�?A8=28?0;<4=C4�;0�?A>?80�B4S0;�34;�C42;03>��034<OB�34�;0B�6D8C0AA0B�AQC<820�H�B>;8BC0�><>�4;�C42;8BC0�4542CV0�;>B�2>A>B�B4AO�C0<18P=�?A428B>�@D4�;4�4=CA46D4�BD�?A>?80�E>I�H�;0�E>I�34;�20=C0=C4B>;8BC0��0<10B�2>=�D=0�8=C4=B8303�B8<8;0A�BC>�4B�BU;>�D=�494<?;>�"0� 5D=28U=�H� ;0�2><?>B828U=�34�2030�B8BC4<0�34�<>=8C>A094�3414�4BC0A�?4=B030?0A0�2D1A8A� ;0B�=424B83034B�4=�2030�20B>�2>=2A4C>��=>�B84=3>�?>B81;4�30A�D=0B�=>A<0B�34�DB>�64=4A0;�04BC4�A4B?42C>��BU;>�0@D4;;0B @D4�4;�1D4=�>5828>�H�;0B�=424B83034B�34�;>B�<VB82>B�=>B�8=38@D4=

�%#&(%����L$����"�)�&%"�(�����)�D0=3>�B4�70�020103>�34�<>=C0A�D=�B8BC4<0�34�0<?;8582028U=��H�0=C4B�34�4542CD0A�;0B�?A424?C8E0B�?AD410B34� B>=83>��=>�4BCO�34�<OB�2><?A>10A� ;0�?>;0A8303�34 ;>B�<82AU5>=>B�H�34� ;>B�0;C0E>24B�� B8� 4G8BC4�0;6D=03D30�B>1A4�4;�?0AC82D;0A&0A0� ;>B�<82AU5>=>B�70H�D=0� 5>A<0�<DH�B8<?;4�34� A40;8I0A;>�&0A0�4;;>� B4� C><0�D=�<82A>�2D0;@D84A0��@D4BD?>=3A4<>B� C84=4�D=0�?>;0A8303� 2>AA42C0�� H� >CA>�<82AU5>=>� 2>=� ;0�>CA0�<0=>�� A4?4C8<>B�4=�E>I�0;C0�D=0?0;01A0�2D0;@D84A0�<84=CA0B�E0<>B�024A2O=3>=>B�0�;0�1>20�;>B�3>B�<82A>B�)8�4BCO=�4=�50B4��;0�A4B?D4BC0�0;>B�C>=>B�6A0E4B�B4�8AO�8=2A4<4=C0=3>�0�<43830�@D4�=>B�E0H0<>B�024A20=3>�;>B�<82A>B��=>�4BC0AO=�4=�50B4B8� ;>B�C>=>B�6A0E4B�B4�3418;8C0=�2D0=3>�;>B�024A20<>B��=�4BC4�B46D=3>�20B>�701AO�@D4�8=E4AC8A�;0�50B4�34D=>�34�4;;>B�0�CA0EPB�34;�20=0;�34�4=CA030�34�;0�<4B0��>�0V=�<49>A��A4E8B0A�4;�201;403>�34;�<82AU5>=>�@D4C84=4�;0�?>;0A8303�8=E4AC830��H0�@D4�?D434�4BC0A�B>;303>�8=2>AA42C0<4=C4)8�A40;8I0<>B�4BC0�<8B<0�?AD410�2>=�C>30�;0�<82A>5>=Q0�34;�4B24=0A8>�?>34<>B�4BC0A�B46DA>B�34�@D4�C>3>BB4�4=2D4=CA0=�4=�50B4��;�C84<?>�@D4�B4�8=E84AC4�4=�4BC0�>?4A028U=�4B�<DH�A43D283>��H�0=C4�2D0;@D84A�3D30E0;4�;0�?4=0�A40;8I0A;0�=� 2D0=C>� 0� ;>B� 0;C0E>24B� A42>A34<>B� ;0� >?4A028U=� 2><4=C030� 4=� 4;� 20?QCD;>� 3438203>� 0� 4BC>BCA0=B3D2C>A4B��4=�;0�@D4�<4380=C4�D=0�?8;0�4;P2CA820�=>B�4B�?>B81;4�2><?A>10A�;0�?>;0A8303�2>AA42C0�34�C>30B;0B�2090B�02VBC820B�0H�@D4�?A4BC0A�D=0�4B?4280;�0C4=28U=�0�;0 ?>B828U=�A4;0C8E0�4=CA4�;>B�0;C0E>24B�?0A0�0;C0B�5A42D4=280B�H�;>B0;C0E>24B�?0A0�1090B�5A42D4=280B��H0�@D4�?>A�C>3>�4;�0D38C>A8>�B4�5>A<0AO=�38BC8=C0B�A4;028>=4B�34�50B4�4=CA44;� B>=83>�38A42C>� H� 4;� A45;4903>�#D27>B�?82>B� 34� 5A42D4=280B�@D4�B4�30=�4=�D= ;>20;� 24AA03>�?D434=�B4A4E8C03>B�>� A43D283>B�� B8� B4�?A>2DA0�B8CD0A�4BC>B�0;C0E>24B�4=�D=�<8B<>�?;0=>��0�D=0�<8B<0�38BC0=280�34;?V1;82>

�"�#�$�(�(+��%)��$�+���%)*>3>B� ;>B�2>=3D2C>A4B�34�D=0�B4S0;�4;42CAU=820�4BCO=�BD94C>B�0�B4A� 8=3D283>B�?>A�2>AA84=C4B�?0AOB8C0B�34E0A80B�=0CDA0;4I0B��4<8B8>=4B�34�A038>�5A42D4=280��1>18=0B�34�<>C>A4B��2>=<DC03>A4B�4;42CAU=82>B��2>AA84=C40;C4A=0� A4B83D0;�� 4C2� &>A� 4BC4� <>C8E>� C>3>B� ;>B� 2>=3D2C>A4B� 34� ;0� B4S0;� 0D38>� ;;4E0=� ;0� <0;;0� @D4� ;>B4=ED4;E4��2DH0�<8B8U=�4B�8=C4A24?C0A�4BC0B�2>AA84=C4B�?0AOB8C0B�?0A0�CA0B;030A;0B�70BC0�;0�C><0�34�C84AA0"0B�;Q=40B�10;0=24030B�?A>?80B�34�;0�<82A>5>=Q0�C84=4=�C0<18P=�D=0�<8B8U=�?0A42830��?4A>�4=�;D60A�34�20?C0A

;0� 8=C4A54A4=280� H� ;;4E0A;0� 0C84AA0�� ;>� @D4� 7024=� 4B20?C0A� ;0� 8=C4A54A4=280� ?>A;>B� 3>B� 2>=3D2C>A4B� ��>C� H�>;3�� 4� 8=E4AC8A� ;0� 50B4� 34D=>� 34� 4;;>B�� H� 0BQ� 2D0=3>B4� D=4=� ;0B� 3>B� B4S0;4B� 4;AD83>�?0AOB8C>�B4�0=D;0�D0=3>� 0;6V=� 2>=3D2C>A� >0;6V=�4;4<4=C>�34;�B8BC4<034� ?>C4=280� =>� 4BCO2>AA42C0<4=C4� 2>=42C03>� 0<0B0��H�C0<18P=�2D0=3>�=>B4� 70� 38B?D4BC>� 34� ;0?A424?C8E0� C><0� 34� C84AA0?0A0� ;0� 2>AA84=C4� 340;8<4=C028U=�� 4B� ?>B81;4@D4� 0?0A4I20=� AD83>B0D381;4B� 34� 38E4AB0� Q=3>;4�D0=3>� 4BC>� BD2434� 70H@D4� B4A� 4B?4280;<4=C4?A420E83>�0;� C>20A�2D0;@D84A4;4<4=C>� 34;� B8BC4<0�� H0@D4� 4G8BC4� 4;� ?4;86A>� 34BD5A8A� D=0� 34B20A604;P2CA820� ,0;4� ;0� ?4=08=5>A<0AB4� H� D=8A� 0� <0B0C>3>B� ;>B� 4;4<4=C>B� @D4� ;>?A428B4=�� H� 4B?4280;<4=C438B?>=4A� 34� D=0� C><0� 34C84AA0� �BC0� 4B� ;0� <49>A

5>A<0�34�?A>C464A�=D4BCA0�8=C46A8303�5QB820#D27>B�34�;>B 02CD0;4B�B8BC4<0B�DB03>B�?0A0�4;�2>=CA>;�34�;0B�;D24B���8<<4AB��DC8;8I0=�A42C858203>A4B�)�(��3854A4=280�34�;>B�0=C86D>B�A4>BC0C>B��@D4�BD4;4=�64=4A0A�D=�AD83>�2>=BC0=C4�34�1090�5A42D4=280������I�U����I�B46V=�;0�5A42D4=280�34�;0�2>AA84=C4�0;C4A=0���4BC>B�<>34A=>B�38<<4AB�64=4A0=�D=�AD83>�<OB�06D3>��@D4C84=4�BD�>A864=�4=�;>B�01AD?C>B�5A4=C4B�34�>=30�@D4�0?0A424=�?>A�;0�0228U=�34�;>B�A42C858203>A4B�)�(�B>1A4;0�2>AA84=C4�0;C4A=0��BC>B�5A4=C4B�34�>=30�E8090=�?>A�;>B�201;4B�34�2>AA84=C4�0;C4A=0��?D384=3>�B4A�;0�20DB034�@D4�0?0A4I20�D=�AD83>�?0AOB8C>�4=�;>B�201;4B�34�<82A>5>=Q0�BC4� AD83>�?D434� CA0B;030AB4�0� ;0�<4B0�34�<4I2;0B�� 8=2;DB>�4=� ;>B�20B>B�4=�@D4�PBC0� C4=60� ;0B�4=CA030B10;0=24030B�4;42CAU=820<4=C4��BC0�8=C4A54A4=280�BD4;4�0?0A424A�2D0=3>�;0�<4B0 34�<>=8C>A4B�>�;>B�201;4B34�<82A>5>=Q0�4BCO=�?AUG8<>B�0�;>B�2>=CA>;4B�34�;D24B��?>A�4BC>�4B�A42><4=301;4�B4?0A0A�5QB820<4=C4�4BC>B2><?>=4=C4B%CA>�C8?>�34�AD83>��@D4�B4�2>=>24�2>=�4;�=><1A4�34���D<���4BCO�20DB03>�?>A�2>AA84=C4B�34�8=3D228U=�4=CA43>B�2><?>=4=C4B�@D4�4BCP=�<DH�24A20�4=CA4�BQ�)>=� ;0B�4C0?0B�34�?>C4=280� ;0B�@D4�BD4;4=� 8AA0380A�4BC0B2>AA84=C4B�?0AOB8C0B��H0�@D4�B4�>A868=0=�4=�;>B�CA0=B5>A<03>A4B�34�B0;830��B8�D=�2><?>=4=C4�34�109>�=8E4;��D=2><?A4B>A�>�D=0�A4E4A1��?>A�494<?;>��4BCO�9DBC> 4=28<0�>�34109>�34�;0�4C0?0��?D434�20?C0A�4BC0�2>AA84=C4�48=CA>3D28A;0� 4=� ;0� ;Q=40� 34� B4S0;� &>A� 4BC4�<>C8E>� C0<18P=� 4B� 2>=E4=84=C4� 2>;>20A� ;0B� 4C0?0B� 34�?>C4=280B4?0A030B�34�;>B�>CA>B�2><?>=4=C4B��?0A0�0BQ�4E8C0A�;0�>20B8U=�34�@D4�B4�8=CA>3DI20�4BC4�AD83>�?0AOB8C>�4=;>B�28A2D8C>B�34�;Q=40)8��0�?4B0A�34�C>3>��B4�?A4B4=C0�0;6V=�AD83>�8=34B403>��H�B8�PBC4�?A>E84=4�34;�28A2D8C>�34�<82A>5>=Q0��701AO@D4�DB0A�D=�CA0=B5>A<03>A�B4?0A03>A�?0A0�8=C4=C0A�08B;0A;>���86DA0� �

�BC>B�38E8B>A4B�34�;0B�;Q=40B�<82A>5U=820B�?D434=�0;8<4=C0A�3>B�>�<OB�B0;830B��;�@D4�0?0A424�4=�;0�586DA04=EQ0� ;0� B4S0;� 34;� <82A>� 2>=42C03>� 70280� ;0� <4B0� ?A8=28?0;� H� 70280� ;0� 34� <>=8C>A4B�� B8<D;CO=40<4=C4�?D38P=3>B4�70;;0A�<>34;>B�@D4�2D4=C4=�2>=�<OB�;Q=40B�34�B0;830��>=�4;�DB>�34�4BC>B CA0=B5>A<03>A4B�B4

4E8C0�@D4�2D0;@D84A�8=C4A54A4=280�?A>2434=C4�34;�B8BC4<0�0542C4�0�;0B�;Q=40B�<82A>5U=820B��H�034<OB�?A4E84=434�@D4�2D0;@D84A�50;B>�2>=C02C>�@D4�7D184A0�4=�0;6V=�2><?>=4=C4�?D430�?A>E>20A�D=0�34B20A60�4;P2CA820�0@D84=�C>@D4�D=�<82AU5>=>

�%$*(%"����$�,�"�)��$�"�)�#�)�)����#�/�"��B�2>=E4=84=C4�C4=4A�?A4B4=C4�;>�@D4�B86=85820�;0�BD<0�34�;0B�38=O<820B�4=�;>B�20=0;4B�34�D=0�<4B0��@D48=E0A801;4<4=C4�B4�4542CV0�4=�;>B�BD16AD?>B�H�4=�;0�B0;830�<04BCA0&0A0�0?A>E4270A�C>3>�4;�<0A64=�38=O<82>�@D4�?A>?>A28>=0�D=0�2>=B>;0��4;�2>=CA>;���08=��34�2030�20=0;�3414B8CD0AB4�0�BD�=8E4;�<OG8<>��9DBC>�0=C4B�34�@D4�B0CDA4�4;�C427>�38=O<82>�34;�20=0;�&0A0�4;;>�B4�B8CV0�4;�5034A4=�;0�?>B828U=����3����4;�=8E4;�34;�4=EQ>�3414�B4A�83P=C82>�0;�@D4�B4�>1C84=4�?D;B0=3>�4;�1>CU=�&�"���H�B4�E00D<4=C0=3>�4;�2>=CA>;�34�60=0=280�34;�20=0;��70BC0�@D4�;>B�A468BCA>B�<OB�8=C4=B>B�=>�B0CDA4=�;0�B4S0;�4�4BC0�5>A<0��2D0=3>�;D46>�B4�BD<4=�;0B�B4S0;4B�34�C>3>B�;>B�20=0;4B�4;�C427>�38=O<82>�2>=9D=C>�=>�B4E4AO� 38B<8=D83>� H� ;0� 38=O<820�<DB820;� >1C4=830� C4=3AO� D=� E0;>A�<OG8<>�� B8=� @D4� 70H0� 4;� ?4;86A>� 34� @D40?0A4I20=�B0CDA028>=4B�4=�0;6V=�4=EQ>��D0;@D84A�20<18>�34�42D0;8I028U=�4=�0;6V=�20=0;�C4=3AO�A4?4A2DB8U=B>1A4�;0�20?028303�38=O<820�34�4BC4�20=0;��0BQ�@D4�4B�?A454A81;4�42D0;8I0A�?A8<4A>�;0�B4S0;�34�2030�20=0;��H;D46>�B8CD0A�;0�60=0=280�34;�<8B<>�4=�BD�E0;>A�<OG8<>�0=C4B�34�B0CDA0A�;�0<?;858203>A�>?4A028>=0;��2DH0�60=0=280�B4�38A864�34B34�4;�2>=CA>;� ��08=��� C84=4�D=�=8E4;�<OG8<>�@D4�B4B8CV0�0;A4343>A�34�� ��3�D��<84=CA0B�@D4�4;�ADQ3>�34�5>=3>�34;�20=0;�BD4;4�4BC0A�?>A�34109>�34 ����3�D�4=�;0<0H>AQ0�34�20B>B��;;>�BD?>=4�D=�A0=6>�38=O<82>�34����342814;8>B�?0A0�2030�20=0;�D0=3>�;0B�60=0=280B�34�;>B�20=0;4B�=>�4BCO=�184=�09DBC030B�?D434=�BD2434A�3>B�2>B0B����;�D=8AB4�C>30B�;0B�B4S0;4B�4=�;>B�1DB4B�34�B0;830�B4�?84A34�60<0�38=O<820��B8�;>B�2>=CA>;4B�34�60=0=2804BCO=�?>A�34109>�34;�=8E4;�A4@D4A83>�� �?0A424� 38BC>AB8U=� ?>A� B>1A4<>3D;028U=� 2D0=3>� B4� 0D<4=C0�<OB� 34� ;>� 34183>� 4;� =8E4;� 34� 0;6V=� 20=0;<4380=C4�;>B�5034AB��H0�@D4�B4�B0CDA0�;0�20?028303�34�;>B�1DB4B�4=�;0�<4B0�;�4=E80A�2>=9D=C0<4=C4�<V;C8?;4B�B4S0;4B�?>A�D=>B�<8B<>B�20AA8;4B�8=C4A=>B��2><>�BD2434�B84<?A4�4=�;0B>?4A028>=4B�34�<4I2;0��3414=�0C4=D0AB4�D=>B���3��<4380=C4�;>B�5034AB�34�20=0;�2030�E4I�@D4�B4�3>1;0�4;=V<4A>�34�20=0;4B�@D4�28A2D;0=�?>A�D=�<8B<>�1DB��BC>�B4�7024�?0A0�4E8C0A�;0�0?0A828U=�34�B0CDA028>=4B�B8=A43D28A�4;�C427>�38=O<82>�4=�;>B�20AA8;4B�8=C4A=>B�=�;0�C01;0�B86D84=C4�B4�?D434�E4A�2DO;�4B�;0�A43D228U=�BD64A830�2D0=3>�B4�4=EQ4=�?>A�D=�<8B<>�1DB�70BC03>24�B4S0;4B�38BC8=C0B

$N#�(%�����$*(���)�������(��+���L$����$�,�"��3������������������������������������������������������������������������ ������������ �������������� ������������ ������������ ������������ �������������� ������������ �������������� ������������� �������������� ��

�;�<0A64=�34�4BC4�0B?42C>��?4A>�2><?;4<4=C0=3>�4BC>B�30C>B��2>=E84=4�B014A�@D4�4G8BC4=�D=>B�=8E4;4B�34A454A4=280�2D0=3>�B4�4542CV0�;0�<4I2;0�34�38E4AB>B�8=BCAD<4=C>B��2>=�C0;�34�2>=B46D8A�4;�4@D8;81A8>�<DB820;4=�;0�<4I2;0�2>=9D=C0'D434�2;0A>�@D4�B4�CA0C0�34�B8<?;4B�?D=C>B�34�?0AC830��34B?DPB�34�;>�2D0;�4;�CP2=82>�3414�0?;820A�BD�?A>?8>2A8C4A8>�>�184=�;0B�8=382028>=4B�34;�A4B?>=B01;4�34�;0�5>A<028U=�BC>B�=8E4;4B��4=�D=83034B�34�E>;D<4=��,+��B>=�

��,>I�B>;8BC0� ��������������D4A30B� � ���>A>B�H� J�E>I� �������������*42;03>B� �����D8C0AA0�AQC<820� �������������*42;03>B�34�5>=3>� � ����D8C0AA0�B>;8BC0� �������������090�34�10C4AQ0� ����09>�4;P2CA82>� �� ������������><1>�34�?84� � �&4A2DB8>=4B� ���������������70A;4B�H�?;0C>B� ��

�%$*(%"����"�����+)�L$��$�"%)��"*�,%��)�;�O=6D;>�34�2>14ACDA0�@D4�?A>?>A28>=0�D=�A428=C>�02VBC82>�4B D=�30C>�@D4�2>=E84=4�2>=>24A��?0A0�?A4E4A2>=� 0=C4;028U=� 2><>� B4� 2><?>AC0AO� 4BC4� A428=C>� 3DA0=C4� 4;� 2>=284AC>� �0H� 2090B� @D4� B>=� 8340;4B� ?0A0CA01090A� 2>=� B8BC4<0B� 34� B>=83>� 38BCA81D83>� 0� 2>AC0� 38BC0=280�� H0� @D4� BDB� O=6D;>B� 34� 2>14ACDA0� 4BCO=�?>A4=28<0�34�;>B����6A03>B��<84=CA0B�@D4�>CA0B�2090B�4BCO=�7018;8C030B�?0A0�;0=I0A�4;�B>=83>�0�38BC0=280��B84=3>BDB�O=6D;>B�34�38B?4AB8U=�8=54A8>A4B�0�;>B����6A03>B�;� <4=28>=0A� O=6D;>B� 34� 385DB8U=� <4� A4584A>� 0� ;0� 2>14ACDA0� 7>A8I>=C0;� 34� ;0� 2090� "0� 38B?4AB8U=� E4AC820;7018CD0;<4=C4�4B�10BC0=C4�<OB�A43D2830��H�;>�<OB�DBD0;�4B�2>=CA>;0A�4BC4�502C>A�<84=CA0B�B4�D1820=�;0B�2090B4=�D=�A428=C>#D27>B�0;C0E>24B�34�1>28=0�2>=C84=4=�B8BC4<0B�34�385DB8U=�02VBC820�@D4�0D<4=C0=�;0�2>14ACDA0�7>A8I>=C0;34;� B>=83>� @D4� 4<8C4=� �BQ� 4B� ?>B81;4� 4=2>=CA0A� D=83034B� 34� <438>B06D3>B� 4@D8?030B� 2>=� 1>28=0B;4=C82D;0A4B��@D4�38B?4AB0=�4;�B>=83>�0�<OB�34�� ��6A03>B��=>�>1BC0=C4�0;�>?4A0A�34�4BC0�5>A<0�A43D24=�;038BC0=280�0�;0�@D4�4<8C4=�4;�B>=83>"0B�2090B�02VBC820B�@D4�4=EQ0=�B>=83>�0�6A0=�38BC0=280�C84=34=�0�2>;>A40A�4;�<4=B094�<DB820;��B�;>�<8B<>@D4� BD2434� 2>=�=D4BCA0� E>I� 2D0=3>� 8=C4=C0<>B�@D4�=>B�4B2D274=�0�6A0=�38BC0=280�� H� 2>;>20<>B�0<10B<0=>B� 0;A4343>A� 34� ;0� 1>20� 5>A<0=3>� D=0� 1>28=0�� 4;� C8<1A4� 34� ;0� E>I� @D430� ;864A0<4=C4� 50;B403>� $>>1BC0=C4��4;�DB>�34�0;C0E>24B�<DH�38A4228>=0;4B�4B�20B8�8<?A4B28=381;4�2D0=3>�B4�C84=4=�@D4�2D1A8A�A428=C>B34�6A0=34B�38<4=B8>=4B"0B�5A42D4=280B�<OB�0;C0B�B>=�01B>A1830B�?>A�4;�<8B<>�08A4�2>=�?A454A4=280�B>1A4�;0B�1090B�5A42D4=280B��?>A4;;>� ;0B� 0;C0B� 5A42D4=280B� BD4;4=� ?A428B0A� 34� 0;6V=� B8BC4<0� 34� 0;C0E>24B� @D4� 4=EQ4� 4;� B>=83>�0� 38BC0=280�BC>B�0;C0E>24B�3414=�0?D=C0A�70280�;0�I>=0�@D4�3410=�2D1A8A��?>A�4;;>�4B�2>=E4=84=C4�B8CD0A;>B�4=28<0�34;4B24=0A8>��5>A<0=3>�6AD?>B�4=5>203>B�70280�;0B�38E4AB0B�OA40B�34�;0�0D384=280"0� 2><18=028U=� 34� 2090B� 2>;6030B� � ��������� 2>=� O=6D;>B� 34� 38B?4AB8U=� A43D283>B�� H� 2090B� 0?8;030B� 4=2>;D<=0B�0�;>B�;03>B�34;�4B24=0A8>�@D4�?A4B4=C4=�O=6D;>B�<OB�0184AC>B�?D434�;;460A�0�B4A�?A>1;4<OC820�$>>1BC0=C4�B4�CA0C0�34�D=0�2><18=028U=�@D4�?D434�30A�D=>B�A4BD;C03>B�<DH�1D4=>B��B84<?A4�@D4�4;�CP2=82>2>=CA>;4�;0B�20A02C4AQBC820B�34�;0B�2090B�DC8;8I030B�;�O=6D;>�34�385DB8U=�4B�D=�502C>A�@D4�2>=E84=4�3><8=0A�0;�B8CD0A�;>B�<>=8C>A4B�B>1A4�4;�4B24=0A8>��<D27>B?A>1;4<0B�34�A40;8<4=C028U=�02VBC820�?D434=�B4A�4E8C03>B�B8�B4�2>=CA>;0�184=�4BC4�0B?42C>(4?A4B4=C0� D=0� 1D4=0� 0HD30� ?>34A� E8BD0;8I0A� ;0� 38B?4AB8U=� A40;� 34� ;>B� 0;C0E>24B�� @D4� 6D0A30� 284AC0B4<490=I0� 2>=� 4;� 70I� 34� ;DI� @D4� BDA64� 34� D=0� ;8=C4A=0��>=� ?0284=280� H� 0;6>� 34� 4G?4A84=280� 4B� ?>B81;42>=B46D8A�D=0�2>14ACDA0�B>=>A0�B8<8;0A�?0A0�C>30�;0�0D384=280��8=2;DB>�4=�;>20;4B�@D4�?A4B4=C4=�D=0�02VBC8203458284=C4">B�6A0=34B�B8BC4<0B�34�B>=83>�?A428B0=�34�D=0B�2090B�34�;0=I0<84=C>�2>AC>��?0A0�2D1A8A�;0�I>=0�34;�?V1;82>B8CD030� <OB� 24A20� 34;� 4B24=0A8>�� 0� ;0� @D4� =>� ;;460� 4;� B>=83>� 38A42C>� 34� ;>B� 0;C0E>24B� ?A8=28?0;4B� &0A038BC0=280B�BD?4A8>A4B�0�;>B����<4CA>B�BD4;4=�0S038AB4�2090B�34�;0=I0<84=C>�;0A6>��@D4�B4�B8CV0=�0�BD58284=C40;CDA0�?0A0�@D4�BD�4<8B8U=�=>�0542C4�;0B�I>=0B�34 0D384=280�H0�2D184AC0B�?>A�;0B�2090B�34�;0=I0<84=C>�2>AC>�D0=3>� B4� 0?8;0=� ;>B� 0;C0E>24B�� B4� 02>BCD<1A0� 0� 2>;>20A� 4=� ;0� ?0AC4� 8=54A8>A� ;>B� @D4� 64=4A0=� 1090B5A42D4=280B�H�;>B�@D4�2D1A4=�4;�OA40�<OB�24A20=0�0;�4B24=0A8>��=�;0�?0AC4�BD?4A8>A�B4�B8CV0=�;0B 2090B�@D44=EQ0=�4;�B>=83>�0�38BC0=280��?0A0�@D4�BD�4<8B8U=�;;46D4�B8=�4=2>=CA0A�>1BCO2D;>B�0�;>B�?D=C>B�<OB�0;4903>B34;�A428=C>�D0=3>�B4�4<?;40=�1;>@D4B�34�BD1�6A0E4B��?D434=�B8CD0AB4�34109>�34�;>B�A428=C>B�?0A0�1090B�5A42D4=280B�H0�@D4�B8�B4� 8=BC0;0=�109>�4;�24=CA>�34;�4B24=0A8>�?D434=�64=4A0A�E81A028>=4B�4=�4;�<8B<>�4=C0A8<03>�"><OB�?AO2C82>�BD4;4�B4A�B8CD0A�;>B�209>=4B�34�BD1�6A0E4B�4=�D=>�34�;>B�;0C4A0;4B�0;�;03>�34;�4B24=0A8>��>�184=4=�0<1>B�;03>B&0A0� ;>B� A428=C>B� @D4� B4� D1820=� 2>;603>B� B>1A4� 4;� 4B24=0A8>�� 4B� 8<?>AC0=C4� 24A28>A0AB4� 34� @D4� 4BCO=0?D=C0=3>�184=�70280�;0�I>=0�@D4�3410=�2D1A8A��H�4=�?0AC82D;0A�70H�@D4�09DBC0A�184=�BD�2>14ACDA0�E4AC820;�?0A0>1C4=4A� 4;� <49>A� A4=38<84=C>� "0B� 4BCAD2CDA0B� @D4� B>?>AC0=� 4;� ?4B>� 34� 4BC>B� �2;DBC4AB�� 3414=� C4=4A� D=00<?;8CD3�<OB�@D4�BD58284=C4��H�C84=4=�@D4�?4A<8C8A�;0�8=2;8=028U=�0=6D;0A�34�;0B�2090B�B8=�=8=6D=0�38582D;C03&0A0� 0;8=40A� 2>AA42C0<4=C4� ;>B� A428=C>B� 2>;603>B� B4� BD94C0=� ?>A� 34CAOB� <4380=C4� O=6D;>B� H� 2>AA40B� "02>AA40�34;�CA8=@D4C4��B8CD030�4=CA4�;0�4BCAD2CDA0�<4CO;820�H�;0�?0AC4�8=54A8>A�34�;0�2090��B4�3414�?>34A�C4=B0A�H5890A� ?0A0� @D4� <0=C4=60� 4;� O=6D;>� ?A428B>� "0� 4G?4A84=280� 34<D4BCA0� @D4� ;>B� A428=C>B� 2>;603>B� ?D434=4=5>20AB4�?4A542C0<4=C4�2>=�BU;>�CA4B�09DBC4B��H�@D4�D=0�4G02C8CD3�C>C0;�=>�4B�8<?A4B28=381;4�?0A0�2>=B46D8AD=� 1D4=� A4BD;C03>� �>=� C>3>� 70H� @D4� ?>=4A� 4B?4280;� 0C4=28U=� 0;� 4542CD0A� ;>B� 09DBC4B� 0=6D;0A4B� 34� ;>B�2;DBC4AB���H�CA01090A�B>1A4�D=>B�?D=C>B�?A458903>B�4=�C>A=>�0�;0B�I>=0B�@D4�B4�3410=�2D1A8A">B� A428=C>B� 2>;603>B� 4=� ?D4=C4B� BU;>� 3414=� 4=B0<1;0A;>B� CP2=82>B� 4B?4280;8I03>B� 4=� ;0� <0C4A80�� H� ;>B<0C4A80;4B�4<?;403>B�?0A0�BD�74AA094�3414=�4BC0A� C>C0;<4=C4�?A>103>B�*>3>B� ;>B�B8BC4<0B�BDB?4=383>BC84=4=� @D4� ?0B0A� D=0� A4E8B8U=� ?4A8U3820�� H� 2D0;@D84A� <0C4A80;� @D4� =>� 4BCP� 4= ?4A542C0B� 2>=3828>=4B� B434B20AC0AO� 34� 8=<4380C>�)4� CA0C0� 34�D=0� 2D4BC8U=�34�B46DA8303�?4AB>=0;�� H�4=�4BC4� C4AA4=>�=>�B4�?D434024?C0A�=8=6V=�A84B6>�8==424B0A8>

"%)�)�)*�#�)����&%*�$����&(%��)��%)">B�B8BC4<0B�34�0<?;8582028U=�B>=>A0�?0A0�;>B�2>=284AC>B�4=�E8E>�?D434=�;;460A�0�4=CA460A�D=0�?>C4=280�<DH2>=B834A01;4� �BC>B� =8E4;4B� C0=� 4;4E03>B� ?D434=� ;;460A�� 4=� 0;6D=>B� 20B>B�� 0� 2>=BC8CD8A� D=� E4A3034A>?A>1;4<0�C0=C>�?0A0�;>B�CP2=82>B�2><>�?0A0�4;�?V1;82>�@D4�0B8BC4�0�;>B�2>=284AC>B�84AC0<4=C4�� H� 34183>� 0;� 4;4E03>� E>;C094� 34� CA0109>� @D4� 4=CA460=� ;0B� <>34A=0B� 4C0?0B�� ;0B� 1>18=0B� 340;6D=>B� 0;C0E>24B� BD4;4=� 5D=28>=0A� 0;� ;Q<8C4� 34� BDB� ?>B818;83034B�� 64=4AO=3>B4� D=0� 0;C0� C4<?4A0CDA0� >8=CA>3D284=3>�D=0�38BC>AB8U=�@D4�4B�<DH�<>;4BC0�0�0;C>B�=8E4;4B�02VBC82>B�*0<18P=� ;0B�4C0?0B�2>AA4=�D=284AC>�A84B6>��B8�B4�;;460�0�0;20=I0A�;0�B0CDA028U=�4;42CAU=820�4=�BDB�CA0=B5>A<03>A4B�34�B0;830&>A�>CA>�;03>�4BCO=�;>B�UA60=>B�0D38C8E>B�34�;>B�4B?42C03>A4B�"0�?A4B8U=�02VBC820�@D4�B4�?D434�>1C4=4A�2>=;>B� 02CD0;4B� B8BC4<0B� 34� 0<?;8582028U=� B>1A4?0B0� 7>;6030<4=C4� ;>B� ���� 3�� )&"�� B4� CA0C0� 34� D=� =8E4;02VBC82>�@D4�?D434�?A>3D28A�;0�A>CDA0�34;�CQ<?0=>�>=CA>;0A�;0�B4S0;�B>=>A0��D=0�E4I�70�B83>�0<?;8582030�4=�?>C4=280��?A4B4=C0�D=>B�?A>1;4<0B�?AO2C82>B�<DH=>C01;4B��?>A�4;;> 20B8�B84<?A4�B4�>?C0�?>A�A46D;0A�;0�B4S0;�2D0=3>�C84=4�=8E4;4B�109>B�34�E>;C094��0=C4B�@D44BC0�;;46D4�0�;0B�4C0?0B�34�?>C4=280

�+=�?A8<4A�?0B>�4=�4;�?A>24B03>�02VBC82>�5D4�;0�030?C028U=�34�;>B�58;CA>B�02C8E>B�B4?0A03>A4B�34�5A42D4=280B�2A>BB>E4AB��� ;0 8=2>=C4BC01;4�DC8;8303�34�4BC>B�58;CA>B� ;>B�7024�7>H� 8<?A4B28=381;4B�4=�2D0;@D84A�B8BC4<0�34?>C4=280)8CD03>B�4=CA4� ;0�B0;830�34� ;0�<4B0�34�<4I2;0B�H� ;0�4=CA030�0� ;0B�4C0?0B�� ;>B�2A>BB>E4AB�38E834=� ;0�B4S0;0D38>� 4=� 6AD?>B� 34� 5A42D4=280B� ?A4�589030B�� 4BC>B� B>=� 4=E803>B� 70280� ;0B� 4C0?0B� 2>AA4B?>=384=C4B� @D40;8<4=C0=�0�;>B�0;C0E>24B�4B?42Q582>B�<OB�0342D03>B�B46V=�4;�20B>�>=�4BC4�?A>2438<84=C>�B4�;>6A0�D=�<0H>A�A4=38<84=C>�C0=C>�34�;>B�0<?;858203>A4B�2><>�34�;0B�4C0?0B��H0@D4�0<10B�D=83034B�>?4A0=�2>= D=�<0A64=�34�5A42D4=280B�34;8<8C03>��B�?A428B>��=>�>1BC0=C4��@D4�4G8BC0D=0�?4A542C0�030?C028U=�4=CA4� ;0B�20A02C4AQBC820B�34� ;>B�0;C0E>24B�H�34� ;0B�4C0?0B��B8�B4�34B40�>1C4=4A�D=<OG8<>�A4=38<84=C>�34�C>3>�4;�B8BC4<0

��G8BC4=� C0<18P=� E0A8>B� B8BC4<0B� ?0A0;8<8C0A� >� 09DBC0A� ;0� B4S0;�34�0D38>�0=C4B34�@D4�B40�0<?;8582030�� C>3>B�C84=4=�4=2><V=� ;0� ?A>C4228U=� @D4� >5A424=� 0� ;>B0;C0E>24B�H�0�;0B�?A>?80B�4C0?0B��H0�@D48<?834=� 4;� CAO=B8C>� 0� ;>B� CA0=B8C>A8>B� 340;C0� 8=C4=B8303� H� 0� ;0B� 5A42D4=280B�<OB0;;O� 34� ;>B� ;Q<8C4B� 34B403>B� ">B2><?A4B>A4B�H�;>B�;8<8C03>A4B�B4�DC8;8I0=?0A0� 4BC>B� 58=4B�� ?4A>� C0<18P=� C84=4=

>CA0B� E4=C090B� 34� >A34=� ?AO2C82>�� 2><>� 4;� 4E8C0A� ;0� A40;8<4=C028U=� 02VBC820� >� ;0� 0?0A828U=� 34B>1A4<>3D;028>=4B�4=�;0�B4S0;��86DA0����;�DB>�34�2><?A4B>A4B��0B>2803>B�>�=>�2>=�;8<8C03>A4B�H�2>=�?D4AC0B�34�AD83>��30�<DH�1D4=>B�A4BD;C03>B�4=;>B� B8BC4<0B� 34�<>=8C>A094�� H0� @D4� A4?A4B4=C0� D=� 1D4=� B46DA>� ?0A0� ?A4E4=8A� ;>B� C4<83>B� 02>?;4B� 4=� D=4B24=0A8>

�"0� ?AO2C820� C>C0;8303� 34� ;>B� 8=BCAD<4=C>B� 34� ?4A2DB8U=� ?A4B4=C0=� � D=>B� 5A4=C4B� 34� 0C0@D4� B>=>A>� <DH01AD?C>B��@D4�?D434=�?>=4A�4=�?4;86A>�;0B�1>18=0B�34�;>B�0;C0E>24B��H0�@D4�B4�B0CDA0�4;�=8E4;�34�B0;830�34;0B� 4C0?0B� 0� ;0B� @D4� 4BCO=� 2>=42C03>B� �>=� 4;� 109>� 4;P2CA82>� >2DAA4� ?AO2C820<4=C4� ;>�<8B<>� �=� 0<1>B20B>B�;0�B8<?;4�;8<8C028U=�34�;0�B4S0;�=>�4B�2>=E4=84=C4��H0�@D4�D=�A42>AC4�3AOBC82>�BD4;4�C4=4A�D=�A4BD;C03><DB820;<4=C4�8=024?C01;4�+=0�2><?A4B8U=�BD0E4�BD4;4�B4A�<OB�8=382030��H0�@D4�=>B�?4A<8C8AO�4=CA460A�D=E>;D<4=�<438>�<OB� 4;4E03>�� H� A40;8I0A� ;0� 2><?A4B8U=�?A428B0� ?0A0� 2030� 8=BCAD<4=C>� 0� ?0AC8A� 34� D=�=8E4;?A458903>

�&0A0� 4GCA04A� D=� A4=38<84=C>� U?C8<>34� ;0B� 2090B� 02VBC820B�� E0A80B� 58A<0B?D=C4A0B� 34;� B42C>A� >5A424=� 0� BDBDBD0A8>B� D=0B� D=83034B� 34� 2>=CA>;�@D4�B4�2>;>20=�4=�;0�4=CA030�34�;Q=400� ;0B�4C0?0B��H� A46D;0=� ;0�B4S0;�?0A009DBC0A;0� 0� ;0B� 2D0;83034B� 34� 20300;C0E>I�BC0B� D=83034B� 34� 2>=CA>;� ��86DA0� ��� 4BCO=� 09DBC030B� ?0A0� CA01090A� 2>=� D=>B� <>34;>B� 2>=2A4C>B� 340;C0E>24B�� H� 2>=C84=4=� D=� ?A>24B03>A� 4;42CAU=82>� 2>=� 28A2D8C>B� 34� 2>AA4228U=�� @D4� A46D;0� ;0� A4B?D4BC0� 4=

5A42D4=280B�H�;0�0;8=4028U=�34�50B4��;6D=0B�34�4BC0B�D=83034B�C0<18P=�?>B44=�28A2D8C>B�34�?A>C4228U=��@D4;8<8C0=�;0�B4S0;�4=�E>;C094�H�A42>AC0=�;>B�?82>B�34�;0�<8B<0�BC0B�D=83034B�34�2>=CA>;�>5A424=�D=0�?A>C4228U=�<DH�4542C8E0�0�;>B�0;C0E>24B��8=34?4=384=C4<4=C4�34�;0B4C0?0B�2>=�@D4�B4�>?4A4��B8�184=�BD4;4=�4BC0A�38B4S030B�?0A0�D=>B�<>34;>B�2>=2A4C>B�34�2090B�02VBC820B�@D4�3414=�B4A�;0B�DC8;8I030B�?0A0�>1C4=4A�4;�A4=38<84=C>�4B?4A03>

�#D270B� 34� ;0B� =D4E0B� 4C0?0B� 34� ?>C4=280� @D4� 0?0A424=� 4=� 4;� <4A203>� 2>=C84=4=� D=>B� B4=B>A4B� @D42>=CA>;0=�;0�B4S0;�34�4=CA030��H�;0�2><?0A0=�2>=�;0�<8B<0�B4S0;�D=0�E4I�70�B83>�0<?;8582030��8B?>=4=�34D=>B�2>=CA>;4B�@D4�?4A<8C4=�09DBC0A�4;�E>;C094�34�B0;830�2>=� ;0B�20A02C4AQBC820B�2>=2A4C0B�34� ;0B�2090B�@D40;8<4=C0=�BC0B� 4C0?0B� >5A424=� D=0� ?A>C4228U=� @D4� B4� 4GC84=34� 0� ;>B� ?A>?8>B� 0;C0E>24B�� B8� 184=� 4;� ?A>24B03>� @D44542CV0=�4BCO�83403>��1OB820<4=C4��?0A0�?A>C464A�;>B�?A>?8>B�28A2D8C>B�34;�0<?;858203>A��034<OB�34�>?C8<8I0ABD�5D=28>=0<84=C>���86DA0����=�0;6D=>B�20B>B�� C0<18P=� ;;4E0=� 8=2>A?>A03>B�58;CA>B�02C8E>B�34�5A42D4=280B��<4380=C4� ;>B�2D0;4B� ;0�4C0?0A4270I0�2D0;@D84A� 5A42D4=280�@D4�=>�4BCP�34=CA>�34�D=>B� ;8<8C4B�?A458903>B��4�4BC0� 5>A<0�B4�>1C84=4�D=00<?;8582028U=�B4;42C8E0�4=�5A42D4=280B��@D4�5028;8C0�D=�<0H>A�A4=38<84=C>�34�;0�4C0?0��@D430=3>�60A0=C8I030034<OB� ;0� B4?0A028U=� 4=CA4� ;>B� 38E4AB>B� 6AD?>B� 34� 5A42D4=280B�� @D4� B4� 8=8280� 4=� ;>B� 58;CA>B� 02C8E>B� H� B42>AA864�H�34;8<8C0�4=�;0�<8B<0�4C0?0

�$>�>1BC0=C4��;>�@D4�34=><8=0<>B��2>=CA>;�?A>24B03>��34�38E4AB0B�B4S0;4B�0D38>�B4�4542CV0�<4380=C4�D=0BD=83034B� 8=34?4=384=C4B��@D4�<4BDA0=�<4380=C4�D=>B�B4=B>A4B�4;�=8E4;�34�;0�B4S0;�0=C4B�34�@D4�;;46D4�0;0B� 4C0?0B�� H� 4;� =8E4;� 34� 4BC0�<8B<0� B4S0;� 2D0=3>� H0� 70� B83>� 0<?;8582030� ��86DA0� ��� �D0=3>� ;0� D=830303E84AC4� D=0� B>1A4<>3D;028U=� >� D=� ?82>� 4=� ;0� B4S0;� @D4� B4� 38A864� 70280� ;>B� 0;C0E>24B�� 4542CV0� D=02><?A4B8U=�B>1A4�;0�;Q=40�34�4=CA030�4=�D=�C84<?>�<DH�1A4E4��H�3490�34�4542CD0A;0�2D0=3>�H0�=>�4B�?A428B>�;6D=>B�?A>24B03>A4B� 34�0;C0� 20;8303� A40;8I0=�034<OB�>CA0B� 5D=28>=4B�� 2><>�?D434=�B4A� ;0� ;8<8C028U=�345A42D4=280B�H�;0�2>AA4228U=�4=�50B4�34�;0B�B4S0;4B��DC8;8I0=3>�38E4AB>B�B8BC4<0B�34�58;CA03>

(4BD<84=3>��;0B�>?4A028>=4B�@D4�4542CV0�4;�?A>24B03>A�34�2>=CA>;�B>=�;0B�@D4�B86D4=�

��(46D;0�4;�=8E4;�34�;0�B4S0;�34�4=CA030��)4;4228>=0�;0B�EQ0B�4=�;0B�@D4�B4�E0�0�CA01090A��2>=�4;��2>AA4B?>=384=C4�A42>AC4�34�5A42D4=280B�<4380=C4�D=2A>BB>E4A�02C8E>���>AA864�H�42D0;8I0�2030�E80��030?CO=3>;0�0�;0B�20A02C4AQBC820B�34�;0B�4C0?0B�>�34�;>B�0;C0E>24B�70280�3>=34B4�38A864�;0�B4S0;

��(46D;0�H�0;8=40�4=�50B4�C>3>B�;>B�6AD?>B�34�5A42D4=280B���=0;8I0�2>=BC0=C4<4=C4� ;0�B4S0;�@D4�A42814�0� ;0�4=CA030��?>A�E80���H� ;0�B4S0;�H0�0<?;8582030�?>A� ;0�4C0?0�<4380=C4�B4=B>A4B���2>=CA>;0=3>�@D4�;>B�=8E4;4B�=>�4G2430=�34�D=>B�;Q<8C4B�?A458903>B

+=0�34�;0B�V;C8<0B�0?;82028>=4B�34;�?A>24B03>�34�;0�B4S0;�B>=>A0�2>=B8BC4�4=�;0�42D0;8I028U=�0DC><OC820�34;>B� A428=C>B� 3>=34� B4� 34B0AA>;;0� D=� 2>=284AC>� +=>� 34� 4BC>B� B8BC4<0B� 4B� 4;� )�#� �)>DA24� �=34?4=34=C#40BDA4<4=C��� B0;0B� 2><>�4;��0A=0684��0;;� 34�$4F�.>A:��4;��D3>:0=�34�*>:8>��>� ;0�-4<1;4H��A4=0�34">=3A4B�70=�B83>�4@D8;81A030B�02VBC820<4=C4�<4380=C4�4BC4�B8BC4<0�&0AO<4CA>B�C0;4B�2><>�;0�C4<?4A0CDA0�;0�8<064=�4BCPA4>��>�4;�5;D9>�34�4B?42C03>A4B��?D434=�8A�E0A80=3>�0�;>�;0A6>�34�D=�2>=284AC>��4;�<PC>3>�)�#;>B�8=C46A0�H�4542CV0�2>AA4228>=4B�B>1A4�;0�42D0;8I028U=�64=4A0;�4=�C84<?>�A40;

+=� B8BC4<0� 34� ?>C4=280� 2>AA42C0<4=C4?A>24B03>� 03@D84A4� D=� =8E4;� 34� 20;8303385Q28;�34� 86D0;0A�?>A�>CA>� 83P=C82>�@D4�=>�;>4BCP� ">B� 4;4<4=C>B� @D4� 8=C46A0=� D=B8BC4<0�?A>24B03>�?D434=� CA01090A�2>=�D=A4=38<84=C>�<DH�0;C>��?4A>�2D0;@D84A�?4;86A>34� B>1A420A60� @D430� ?AO2C820<4=C44G2;D83>�� ;0� 2>=B4AE028U=� 34� ;>B� 2>BC>B>B4@D8?>B�@D430�0BQ�0B46DA030�4�C>30B�<0=4A0B��;0�<0=>�34�;>B�CP2=82>BH� >?4A03>A4B� @D4� ?A>6A0<0=� ;>B� 38E4AB>B?0AO<4CA>B� 34�4BC>B�?A>24B03>A4B�3414� 8A

B46DA0�� H� 2>=>24A� 184=� 2U<>� 4GCA04A� 4;� <OG8<>� A4=38<84=C>� 34� 2030� 4;4<4=C>�� 34� >CA0� <0=4A0�� 4BC>B?A>24B03>A4B�3490=�34�B4A�D=�1D4=�0;803>�?0A0�2>=E4AC8AB4�4=�D=83034B�?4A542C0<4=C4�8=VC8;4B

�&"�����%$�)���"�&(%��)��%�����,�()%)��$)*(+#�$*%)+=� 4AA>A� @D4� B4� A4?8C4� 2>=� 284AC0� 5A42D4=280�� 4=� E0A80B� 0<?;8582028>=4B�� 4B� 4;� 34� B8CD0A 3>B� >� <OB8=BCAD<4=C>B� >2D?0=3>� ;0�<8B<0� 10=30� 34� 5A42D4=280B�� 8=BCAD<4=C>B� @D4� 034<OB� ?>B44=� D=0� 38=O<820B8<8;0A� �D0=3>� B4� 30� 4BC0� B8CD028U=�� ;0� 0D384=280� C84=4� B4A8>B� ?A>1;4<0B� ?0A0� ?>34A� 38BC8=6D8A� D=8=BCAD<4=C>�34�>CA>��2D0=3>�BD4=0=�0�;0�E4I��30=3>�;D60A�0�D=�B>=83>�2>=5DB>�H�?>2>�2;0A>�>=B834A4<>B�� ?>A� 494<?;>�� 3>B� 6D8C0AA0B� AQC<820B� @D4� 4BCP=� C>20=3>�0� ;0� E4I�� 0� D=� E>;D<4=�?0A4283>� HDC8;8I0=3>�0<10B�D=>B�<8B<>B�4542C>B�)4AO�A40;<4=C4�385Q28;�@D4�4;�?V1;82>�?D430�38BC8=6D8A�D=0�6D8C0AA0�34;0�>CA0��0�=>�B4A�@D4�34B34�;0�<4B0�B4�0?;8@D4=�38BC8=C0B�42D0;8I028>=4B�0�4BC0B�6D8C0AA0B��H�B4�B4?0A4=�4=CA4B8�?>A�<438>�34;�?0=>AO<82>��34�5>A<0�@D4�D=0�6D8C0AA0�BD4=4�2>=�?A454A4=280�4=�4;�20=0;�8I@D84A3>�H�;0�>CA0;>�7060�4=�4;�34A427>+=�?A>1;4<0�B8<8;0A�B4�?A4B4=C0�4=CA4�4;�1><1>�34�?84�H�4;�109>�4;P2CA82>��4=�4B?4280;�2D0=3>�;>B�02>A34B34;�109>�2>8=2834=�2>=�;0�5A42D4=280�24=CA0;�>�;>B�0A<U=82>B�64=4A03>B�?>A�4;�1><1>�D0=3>� 4=� D=� 6AD?>� B4� 8=2;DH4=� 3>B� >�<OB� D=83034B� 34� B8=C4C8I03>A4B� >� B0<?;4AB� ?D434� 0?0A424A� D=0284AC0�2>=5DB8U=�4=CA4�;>B�B>=83>B�@D4�64=4A0�2030�D=8303��4=CDA180=3>�;0�0D3828U=�=�C>3>B�4BC>B�20B>B�4B�?A428B>�0?;820A�38BC8=C0B�42D0;8I028>=4B�0�;>B�8=BCAD<4=C>B�@D4�?D430=�2>=5D=38AB4�B4?0A0=3>� 2;0A0<4=C4� ;0� 38=O<820� C>=0;� <4380=C4 ;>B� 42D0;8I03>A4B� 34� 20=0;�� H� B8� 4;;>� =>� 4B� BD58284=C4�8=B4AC0=3>� D=� 42D0;8I03>A� 4=� 4;�<8B<>� 20=0;� 34� 4=CA030� *0<18P=�4B� 2>=E4=84=C4� =>�DC8;8I0A� ;>B�<8B<>B4542C>B�4=�;>B�8=BCAD<4=C>B�@D4�?D430=�B4A�2>=5D=383>B��BQ�B8��?>A�494<?;>��B4�0?;820�D=0�A4E4A14A028U=�4=D=>�34�4;;>B��4=�4;�>CA>�4;�B>=83>�3414�B4A�;8<?8>

����"�� +�%#��"���;�B>=83>�34�4BC4�8=BCAD<4=C>�=>�BD4;4�?A428B0A�34�=8=6V=�4542C>�)U;>�4=�0;6D=>B�20B>B�4=;>B� @D4� BD4=4� 34<0B803>� A0B?>B>� ?D434� 0?;820AB4� D=0� A4E4A14A028U=� BD0E4�� 4=� 4B?4280;� B8� B4� CA0C0� 34?84I0B�;4=C0B�;�10;0=24 �?0=>AO<82>��?0A0�4;�109>�B84<?A4�B4�B8CV0�4=�;0�?>B828U=�24=CA0;��34�5>A<0�@D4�2D1A0�?>A�86D0;0<1>B�;03>B�34;�4B24=0A8>��4G24?28U=�34;�42D0;8I03>A�34;�20=0;��4;�V=82>�?A>24B03>A�@D4� 8=C4AE84=4�?0A0�<>3D;0A�4;�B>=83>�34;�109>BD4;4�B4A�D=�;8<8C03>A��@D4�B8AE4�?0A0�8<?438A�@D4�;0�4=4A6Q0�02VBC820�@D4�34B?A4=34�4BC4�8=BCAD<4=C>�;;46D40�B0CDA0A�;0B�4C0?0B�34�?>C4=280��?>=84=3>�4=�?4;86A>�;0B�1>18=0B�34�;>B�0;C0E>24B��34183>�0�;0�B>1A420A60

��"��$���;6D=>B�20=C0=C4B�?A4584A4=�A40;8I0A�BD�CA0109>�8=B4AC0=3>�D=�2><?A4B>A�?0A0�;0�E>I��4�4BC0�5>A<0�;0� 3854A4=280� 4=CA4� ;0B� ?0AC4B� <OB� 5D4AC4B� H� ;0B� <OB� BDC8;4B� 34� D=0� ?84I0� @D430� A43D2830�� � A4BD;C0=3>50E>A42830�BD�8=C4;86818;8303�4=�38A42C>�H�BD�2>=CA>;�38=O<82>�D0=3>�B4�34B40�0S038A�<OB�2D4A?>�0�;0�E>I��4G8BC4=�E0A8>B�B8BC4<0B�?0A0�;>6A0A;>��=�?A8=28?8>��10BC0�2>=A45>AI0A�?AD34=C4<4=C4�;0�10=30�34�5A42D4=280B�@D4�E0�34�;>B� ����I�0�;>B������I�)8�4BC>�=>�4B�BD58284=C4�0;6D=>B�>?C0=�?>A�;0�2>;>2028U=�34�D=�4G28C03>A�8=B4AC03>�4=�4;�20=0;�34�;0�E>I��<84=CA0B�@D4�>CA>B�CP2=82>B?A4584A4=�0S038A�0;6>�34�A4E4A14A028U=�0�;0�<8B<0

+=>� 34� ;>B� B8BC4<0B� <OB� =0CDA0;4B� ?0A0A45>AI0A� 4;� 2D4A?>�34� ;0B�?0AC4B�E>20;4B�4B4;� 4B?42858203>� 4=� ;0� 586DA0� ��� 3>=34� B40S034�E80�0DG8;80A�D=�;864A>�A4C0A3>�4=CA4���H� ��<8;8B46D=3>B��;�D=8A�4;�20=0;�34�;0�E>IB8=�A4C0A3>��?0=>A0<8I03>�4=�4;�24=CA>��2>=;0B�E>24B�A4C0A3030B��B4�?A>3D24�D=0�<0H>A?A4B4=280�B>=>A0��?4A>�@D4�=>�E0AQ0�4;�C>=>>A868=0;� 34� ;0� E>I� �=� ;0� 586DA0� B4� BD?>=4@D4�B4 CA01090�2>=�D=�A4C0A3>�4BCPA4>��4=�4;20=0;� �� 4;� A4C0A3>� ?D434� B4A� 34� ��<8;8B46D=3>B�� <84=CA0B� @D4� 4=� 4;� 20=0;� �B4AO� 34� �� >� 34� ��� <B� "D46>�� ;0� B4S0;A4C>A=0�0�;0�<4B0��H�3414�B4A�?0=>A0<8I030C0;� 2><>� B4� E4� 4=� ;0� 586DA0� �>=E84=4�� 4=2D0;@D84A� 20B>�� 2>=B4AE0A� 4;� 20=0;� 344=CA030� ?0A0� ;0� E>I� B8=� ?A>24B0A�� ?0A00S038A� BD� B4S0;� 0� ;0B� B4S0;4B� ?A>2434=C4B34;� A4C0A3>�� 4=� ;0� ?A>?>A28U=� @D4�<OB� =>B8=C4A4B4

���#�&$�"!�$�� &A>24B0A� ;>B�4;4<4=C>B�@D42>=5>A<0=� D=0� 10C4AQ0� � 4B� D=>� 34� ;>B

CA0109>B�<OB�2><?;49>B�@D4�A40;8I0�2D0;@D84A�CP2=82>�"0�4G24B8E0�?A>G8<8303�@D4�70H�4=CA4�;>B�C0<1>A4B�H;>B� ?;0C>B� =>� 0HD30� 4=� ;>�<OB�<Q=8<>� 0� 2>=B46D8A� D=0� 20?C028U=�<82A>5U=820� B4;42C8E0�� H0� @D4� 4;�<82A>B8CD03>�B>1A4�;>B�C0<1>A4B�C0<18P=�20?C0�0;6>�34;�B>=83>�34;�1><1>�H�34;�6>;80C��?>A�494<?;>��2>=�4;�A4BC>34�<82AU5>=>B�BD2434�;>�<8B<>�&0A0�B>;E4=C0A�4BC4�?A>1;4<0��4B�?AO2C820�2><V=�;0�DC8;8I028U=�34�?D4AC0B34�AD83>�8=B4AC030B�4=�;>B�20=0;4B��@D4�A43D24=�4=�;>�?>B81;4�4;�B>=83>�@D4�?A>E4=60�34�>CA0B�D=83034B�34?4A2DB8U=�?AUG8<0B+=0�42D0;8I028U=�?A428B0�C0<18P=�0HD30�0�>1C4=4A�D=0�1D4=0�02VBC820�?0A0�;>B�8=BCAD<4=C>B�34�?4A2DB8U=�4;� CP2=82>�3414�?A>10A�2030�D=8303�?>A�B4?0A03>�70BC0�70;;0A�D=�B>=83>�B0C8B502C>A8>��H� ;D46>�4542CD0A�D=4@D8;81A03>�58=0;�<84=CA0B BD4=0=�C>3>B�;>B�4;4<4=C>B��B�34�B4=C83>�2><V=�@D4�;0B��42D0;8I028>=4B�34�3>BD=83034B�38BC8=C0B��?>A�494<?;>�4;�270A;4B�H�4;�?;0C>��>�4;�6>;80C�H�4;�1><1>��=>�2>8=2830=�34<0B803>��H0�@D44=C>=24B�;0�2>=5DB8U=�4=CA4�PBC0B�B4AQ0�B46DA0,0A8>B�4542C>B�?D434=�B4A�DC8;8I03>B�?0A0�;>B�8=BCAD<4=C>B�34�?4A2DB8U=��BD�DC8;8303�34?4=34AO�34;�B>=83>�4=2>=2A4C>� @D4� B4�1DB@D4�� H0� @D4�=>�4G8BC4� =8=6D=0�=>A<0�@D4�02>=B494� >� =>� BD� DB>�(4C0A3>B�3868C0;4B�0B>2803>B�>� =>�2>=�D=83034B�34� A4E4A14A028U=�?A>?>A28>=0=�D=�B>=83>�4B?42C02D;0A�� 0;� 86D0;�@D4�BD24342D0=3>�B4�DB0=�<>3858203>A4B�C>=0;4B�=�2D0;@D84A�20B>��70H�@D4�B4A�<4BDA03>�0;�DB0A�4BC>B�4542C>B��H�=>�DC8;8I0A;>B�?0A0�C>3>B�;>B�4;4<4=C>B�@D42><?>=4=� ;0� 10C4AQ0�� H0� @D4� 4=C>=24B� ?4A34AQ0=� BD� 8<?02C>� 4B?428582>�� 30=3>� ;D60A� 0� D=� B>=83>� <DH2>=5DB>

� �#&"%)�����$)*�"���%$�)�(��"�)+=�B8BC4<0�34�?>C4=280�3414�B4A�38B4S03>�4=�5D=28U=�34;�4BC8;>�<DB820;�@D4�E0H0�0�0<?;85820A��0BQ�<8B<>�4;?A>24B03>�@D4�B4�E0H0�0�0?;820A�0�2030�8=BCAD<4=C>�3414�4BC0A�0;�B4AE828>�34;�2>=9D=C>��<DB820;�&>A�4BC>B<>C8E>B��=>�B4�?D434=�30A�D=0B�A46;0B�EO;830B�?0A0�C>3>B�;>B�20B>B��H�3414=�B4A�;>B�2A8C4A8>B�34�;>B�<VB82>BH�;>B�CP2=82>B�;>B�@D4�>A84=C4=�B>1A4�;0�0?;82028U=�?AO2C820�34�2D0;@D84A�?A>24B03>��<>3>� 34� 494<?;>B� ?DA0<4=C4� >A84=C0C8E>B�� E40<>B� 0;6D=>B� 30C>B� B>1A4� ;0� 0A@D8C42CDA0� @D4� B86D4=� ;0B8=BC0;028>=4B� 34� 0;6D=0B� 2>=>2830B� 10=30B�� 2U<>� 70=� A4BD4;C>�� 4=� 2030� 20B>�� BDB� =424B83034B� 34B>=>A8I028U=��B84<?A4�4=�5D=28U=�34;�B>=83>�@D4�B4�1DB20�

������� �!��#$� �;�4@D8?>�@D4�B4�34B2A814�5D4�DC8;8I03>�?>A�4BC0�10=30�4B2>24B0�3DA0=C4�;0�68A0�@D4�A40;8IU3DA0=C4� ;0� ?A8<0E4A0� 34;� 0S>� ����� +=� B8BC4<0� 2>=� D=0� 20?028303� 34� ������-�@D4� 4=CA46U� D=� B>=83>;8<?8>�H�;;4=>�34�<0C824B�;�<>=8C>A094�B4�24=CA0;8I0�4=�D=0�<4B0�2>=�� �20=0;4B�34�4=CA030�H�>27>�6AD?>B�34�B0;830�&0A0�;0B�E>24BB4�4<?;40�D=�A4C0A3>�?D=C403>��@D4�?4A<8C4�2>=CA>;0A�2>=�?A428B8U=�;0B�?0AC4B�E>20;4B�4E8C0=3>�;0�0?0A828U=34�;0�A40;8<4=C028U=�02VBC820��H0�@D4�B4�02>AC0�4=�;0�;Q=40�34;�A4C0A3>�4;�C84<?>�34�20Q30">B� 20=0;4B� ?0A0�<>=8C>A8I0A� 4;� 1><1>�34�?84�� 4;� 6>;80C� H� ;>B� C0<1>A4B�BD5A4=�D=0� CA8?;4�<>38582028U=��=?A8<4A�;D60A�B4�B8CV0�D=�2><?A4B>A��B46D83>�34�D=0�D=8303�34�A4E4A14A028U=��H�02010=3>��4=�D=0�?D4AC0�34AD83>��BQ�4B�?>B81;4�>1E80A�?>B81;4B�02>?;4B�H�A4?A>3D28A�2>=�BD58284=C4�2D4A?>�H�2;0A8303�4;�B>=83>�34�4BC>B4;4<4=C>B�?>A�;>B�0;C0E>24B�34;�4B24=0A8>

�=C4A20;03>B� 4=CA4� ;0B� B0;830B� 34� ;>B� BD16AD?>B� 34� <>=8C>A� H� ;0B� 4C0?0B� 34� ?>C4=280�� B4� B8CV0=� >27>42D0;8I03>A4B� 6AO582>B� 34� ��� 34� >2C0E0�� 2030� D=>� 34� 4;;>B� B4� 4=20A60� 34� A42>AC0A� ;0B� 5A42D4=280B� @D4?D434=�>A868=0A�2D0;@D84A�02>?;4�34�2030�8=BCAD<4=C>�<>=8C>A8I03>&0A0�4;�B8BC4<0�34�0<?;8582028U=�?A8=28?0;��B4�38B?>=4�34�3>B� A02:B�34�4542C>B��@D4�?D;4=�4;�B>=83>�34� ;0?4A2DB8U=��;0B�E>24B�H�4;�109>�0=C4B�34�;;4E0A;>�70280�;0B�4C0?0B��;�A4BC>�34�8=BCAD<4=C>B��6D8C0AA0��E8>;Q=�H02>A34U=�� =>� BD5A4=� <>38582028U=� 0;6D=0� �BC>B� A02:B� ;;4E0=� �� ?D4AC0B� 34� AD83>�� �� 2><?A4B>A4B�� A4E4A14A03>A4B�� �A4C0A3>B�3868C0;4B�H� �D=83034B�<D;C84542C>B�=C4B� 34� ;;460A� 0� ;0B� 4C0?0B�� ;0� B4S0;� <0BC4A� 4B� 38E83830�<4380=C4� � 58;CA>B� 02C8E>B� 4=� 2D0CA>� 6AD?>B� 345A42D4=280B��0;C0B��<4380B0;C0B��<4380B1090B��H�1090B��030�6AD?>�4B�0<?;858203>�?>A�D=0B�4C0?0B�2>=�D=0?>C4=280�38BC8=C0��0BQ��34�0;C0B�0�1090B�5A42D4=280B��;>B�<>34;>B�4=CA460=�����-�������-�������-��H� ����-?0A0�2030�E80

��#��%(�#����BC0�10=30�0;4<0=0��?8>=4A0�34;�B>=83>�2814A=PC82>��DC8;8I0�D=�B8BC4<0�@D4�?4A<8C4�D=�<>=C094<DH� AO?83>� "0B� 2>=4G8>=4B� 4=CA4� ;>B� 38E4AB>B� A02:B� 34� 0<?;8582028U=� H� ;0B� 2090B� 4BCO=� B8<?;8582030B�� 34<0=4A0�@D4�4=CA4�D=0�D=8303�H�>CA0�BU;>�70H�D=�201;4�<D;C858;0A��4BC>�5028;8C0�C>3>�4;�?A>24B>�34�2>=4G8U=�H34B2>=4G8U="0�?>20�<>E8;8303�34�;>B�2D0CA>�<84<1A>B�34;�6AD?>�5028;8C0�4;�CA0109>�34;�<>=8C>A094��H�C0<18P=�4;�7427>�34=>�C4=4A�@D4�>2D?0AB4�34�;0�A40;8<4=C028U=�4=CA4�0;C0E>24B�34�<>=8C>A�H�<82AU5>=>B��H0�@D4�BU;>�DC8;8I0=�D=V=82>�<82AU5>=>�4=�C>3>�4;�2>=284AC>��@D4�034<OB�?4A<0=424�20B8�?4603>�0�;0�1>20�34;�20=C0=C4��<4380=C4D=�B>?>AC4�@D4�;;4E0�=� ;0� 68A0� @D4� A40;8I0A>=� 0� 58=0;4B� 34;� 0S>� ����� DB0A>=� 2D0CA>� A02:B� ?0A0� 2>;>20A� C>30B� ;0B� 4C0?0B4=20A6030B� 34;� B8BC4<0� ?A8=28?0;� "0� B4S0;� 34� 0D38>� ?0B010� 0=C4B� ?>A� 2D0CA>� ?D4AC0B� 34� AD83>�� @D4� B44=20A6010=�34�A43D28A�0;�<Q=8<>�4;�AD83>�64=4A03>�?>A�;>B�B0<?;4AB�H�B8=C4C8I03>A4B�@D4�4;�6AD?>�<0=490"D46>�2D0CA>�58;CA>B�B4?0A03>A4B�34�5A42D4=280�?A>24B0=�;0�B4S0;�34�5>A<0�0342D030"0� ?>C4=280� @D4� 4;� B8BC4<0� ?>3Q0� BD<8=8BCA0A� 4A0� 34� ������-�� B8� 184=� D=� ?A>24B03>A� 2>=CA>;U� 4=� C>3><><4=C>� 4;� E>;D<4=� 02VBC82>� @D4� 701Q0� 4=� ;0� B0;0� 3DA0=C4� 4;� 2>=284AC>�� 2>AA8684=3>� 0DC><OC820<4=C4� ;0B4S0;�@D4�;;46010�0�;0B�4C0?0B�2D0=3>�4;�E>;D<4=�02VBC82>�4=�;0�B0;0�4A0�34<0B803>�4;4E03>�>�34<0B803>109>��4�4BC0�5>A<0�B4�2>=B86D4�D=0�?A4B8U=�B>=>A0�@D4�B84<?A4�>B28;0�4=CA4����3��H�����3���B40�2D0;�B404;�E>;D<4=�34;�;D60A�3>=34�B4�02CV0

���������;�B8BC4<0�@D4�B4�34B2A814�5D4�DC8;8I03>�?>A�4BC4�6AD?>�3DA0=C4�;0�68A0��#>=BC4AB�>5�A>2:��������H�B4CA0C0�34�D=�4@D8?>�34�4;4E030�?>C4=280?4A>� @D4� 3414� B4A� <>=C03>� H34B<>=C03>�2>=��BD58284=C4�A0?834I�=� 4BC>B� B8BC4<0B� 4B� 2>=E4=84=C4DC8;8I0A� D=� BU;>� C8?>� 34� 0<?;858203>A4B?0A0�2030�6AD?>�34�5A42D4=280B��H0�@D438BC8=C0B� <0A20B� =>� C84=4=� D=0� <8B<0B4=B818;8303� 34� 4=CA030�� H� ?D434=0?0A424A� ?A>1;4<0B� 34183>B� 0� ;0B38BC8=C0B� ?>C4=280B� H� 0� ;0B� 38E4AB0B<0C8I028>=4B� <DB820;4B� @D4� 4542CV0=4C0?0B�38BC8=C0B"0�C>C0;8303�34;�B8BC4<0�34�0;C0E>24B�B42>;>2U� BDB?4=383>�� ?0A0� A43D28A� 4;A84B6>� 34� ;0� 0?0A828U=� 34� �?D=C>B20;84=C4B���4B�3428A�� 34�I>=0B�3>=34� ;08=C4=B8303� B>=>A0� 5D4A0� BD?4A8>A� 0� ;034;� A4BC>� 34� ;0� 0D384=280� "0� 0?0A828U=34�4BC>B�?D=C>B�B84<?A4�E0�0B>28030�0;0B� ?0=C0;;0B� 0?8;030B� 0� 0<1>B� ;03>B34;� 4B24=0A8>� �;� B8BC4<0� 34� 0;C0E>24BB4�BDB?4=38U��?D4B��0�38E4AB0B�0;CDA0B�H�B4�?A>2DAU�2>=24=CA0A�C>30�;0�4=4A6Q002VBC820� B>1A4� ;0� I>=0� 34� 4B2D270�4E8C0=3>� @D4� 4;� B>=83>� ?;0=40A0� ?>A4=28<0� 34;� 0D38C>A8>� H� 5D4A0� 0� ?0A0A� 0E0A8>B�:8;U<4CA>B�34;�A428=C>&0A0� 024;4A0A�4;�<>=C094�� B4� 8=BC0;0A>=;>B�0<?;858203>A4B�4=�A02:B�4B?4280;4B�2030� D=>� 34� ;>B� 2D0;4B� ;;4E010� ��

4C0?0B�">B�201;4B�34�B4S0;�H�34�?>C4=280� 5D4A>=�?A4?0A03>B�?0A0�2>8=2838A�4=�D=�V=82>�<D;C82>=42C>A�?>AA02:���86�����B8<?;85820=3>�0BQ�C>3>�4;�?A>24B>�34�8=BC0;028U=�H�34B<>=C094

� �!!)� �#�'�%*�� �;� E4A0=>� 34� ����� "4==H� !A0E8CIA40;8IU� D=0� 68A0� ?>A� C>30��DA>?0�� B84=3>� 02><?0S03>?>A� 4;� CP2=82>� *><� �3<>=3B� @D4� B4� 4=20A6U� 34;B8BC4<0� 34� ?>C4=280� ?A8=28?0;� �;6D=0B� 34� ;0B?0AC82D;0A83034B� @D4� B4� ?D434=� 2><4=C0A� B>1A4� ;02>=586DA028U=�34�4BC4�B8BC4<0��B>=�;0B�@D4�B86D4=��)4� DB0� D=� <06=4C>5U=� 34� 1>18=0� 2><>� A4C0A3>�0?;8203>�0�;0B�E>24B�4=�0;6D=0B�?84I0B���86����&0A0� ;0� E>I� 34�"4==H�B4�DC8;8I0�D=�?A40<?;858203>A�34EO;ED;0B�� H� ;D46>� B4� 8=B4AC0� ;0� B4S0;� A4BD;C0=C4� 0� D=;8<8C03>A��@D4�CA01090�V=820<4=C4�4=�0;6D=>B�?82>B�)4;>6A0�0BQ�D=0�C4GCDA0�34�;0�E>I�<DH�=0CDA0;��B8=�0AC85828>B

��=�4;�<>=8C>A094�B4�DB0�D=0�<4B0�2>=� ��20=0;4B�344=CA030� H� ���6AD?>B�34�B0;830�+=>B�42D0;8I03>A4B�34��� 34� >2C0E0� 2>AA864=� ;0� B4S0;� 0=C4B� 34�@D4� ;;46D4�0;0B�4C0?0B�2>AA4B?>=384=C4B���86�������=� ;>B�<>=8C>A4B�B4�DC8;8I0=�38E4AB0B�?D4AC0B�34�AD83>?0A0� ;0� 10C4AQ0�� <84=CA0B� @D4� ?0A0� ;0� E>I� ?A8=28?0;� B44<?;40�D=0�D=8303�34�A4E4A14A028U=�H�D=�A4C0A3>��C>30B;0B� B4S0;4B� ?0B0=� 0=C4B� ?>A� D=� B8BC4<0� 342><?A4B>A4B�� @D4� A43D24=� ;0� 60<0� 38=O<820� H� 0;C84<?>�4E8C0=�?A>1;4<0B�34�A40;8<4=C028U=

���#�� �%#��%$�� "0� 68A0���������������� 4B� ;0�<OB� ;0A60�@D4�=8=6D=0�10=30�34� A>2:� 70� A40;8I03>�70BC0� ;054270� �DA0=C4� 20B8� CA4B� 0S>B� 4;� 8=64=84A>� 34� B>=83>� (>14AC� �>;;8=B� 70� B83>� 4;� 4=20A603>� 34� 024A20A� 4;B>=83>�34��8A4�)CA08CB��?D;2A>�H�?A428B>��0�<8;;0A4B�34�B46D83>A4B�&0A0�4;�B8BC4<0�?A8=28?0;�CA01090�2>=�CA4B2>=B>;0B� 34� <4I2;0�� @D4� 30=� D=� C>C0;� 34� ��� 20=0;4B� 34� 4=CA030�� 0D=@D4� =D=20� 4BCO=� 02C8E03>B2>=9D=C0<4=C4�� 3>24� 20=0;4B� B4� A4B4AE0=� ?0A0� 4;� A4C>A=>� 34� 4542C>B�� 28=2>� ?0A0� ;0B� 6D8C0AA0B� 34� #0A:

!=>?5;4A�����20=0;4B�?0A0� ;0�?4A2DB8U=�����4BCO=�A4B4AE03>B�?0A0�;>B�4=EQ>B�34�;>B�<82A>B��4C2�&0A0�2030?84I0�B4�01A4=�D=>B�20=0;4B��<84=CA0B�@D4�>CA>B�B4�284AA0=��0D=@D4�4BC0�2>=<DC028U=�?D434�B4A�6>14A=03034B34�D=�>A34=03>A��4=�4BC4�20B>�B4�A40;8I0�0�<0=>"0�38BCA81D28U=�34�;>B�6AD?>B�34�5A42D4=280B�4BCO�2>=CA>;030�?>A�D=�B8BC4<0�34�?A>24B03>A4B��BC0�4B�D=034�;0B�20DB0B�34;�0;C>�A4=38<84=C>�@D4�B4�>1C84=4 34;�B8BC4<0�?A8=28?0;��=�4;�2>=CA>;�?A>24B03>�B4�C><0=�;>B<8B<>B� ?0AO<4CA>B� ?0A0� C>30B� ;0B� EQ0B�� =>� 78I>� 50;C0� 20;2D;0A� D=>B� E0;>A4B� 34C4A<8=03>B� ?0A0� 6A0E4B�<438>B�H�06D3>B

"0B� 2090B� 02VBC820B� @D4� B4� DB0=� B>=� 34� <DH� 0;C020;8303�� H� 2>=� D=0B� 20A02C4AQBC820B� <DH� 38A4228>=0;4B��86� ����� C84=4=� D=� C0<0S>� BD58284=C4<4=C4� A43D283>?0A0� 2>;>20A;0B� B46V=� 2>=E4=60� )8� 4BCO=2>AA42C0<4=C4� 38A86830B�� 4;� B>=83>� @D4� B4� >1C84=4� 4B<DH�1D4=>

�;� ?A>1;4<0� 34� 4BC4� B8BC4<0� 4B� 2>=B46D8A� D=0�1D4=0<4I2;0�4=CA4�;0B�38E4AB0B�4=CA030B��@D4�E0AQ0=�4=�2030?84I0� �><>� ?A><438>� B4� CA01090� 2>=� ��� 20=0;4B� 34B>=83>�4=CA0=3>�0�;0�E4I��H�70H�@D4��2>=B46D8A�D=�1D4=4@D8;81A8>�4=CA4�C>3>B�4;;>B"0�A4E4A14A028U=�@D4�C4=60�4;�A428=C>�4B�>CA>�502C>A�@D4B4� C84=4� 4=� 2D4=C0� +=� 0=0;8I03>A� 34� 4B?42CA>� 4=C84<?>�A40;�B4�DC8;8I0�?0A0� ;0B�?AD410B�34�B>=83>��4BC>?4A<8C4� 09DBC0A� ;0� 42D0;8I028U=� 64=4A0;� 34;� B8BC4<0&4A>� 2D0=3>� D=� A428=C>� B4� ;;4=0� 34� ?V1;82>� ;0A4E4A14A028U=� C84=4� >CA>� E0;>A�� H� 70H� @D4� 4BC0A� <DH?4=384=C4� ?0A0� 2>AA468A� ;0� 42D0;8I028U=� B>1A4� ;0<0A270

������ � ���� ��� �;� 0S>������#8:4�%;3584;3� A40;8IU� D=068A0�?0A0�2>=<4<>A0A� ;>B� ��0S>B�34� ;0�0?0A828U=�34;

38B2> ����������������4=�;0�@D4�B4�>5A42Q0�;0�=D4E0�E4AB8U=�@D4�4;�<VB82>�78I>�34�4BC0��>1A0��0AH��A03B70F5D4�4;� 8=64=84A>�34�B>=83>�34�4BC0�68A0��H� ;0�20;8303�02VBC820�34;�B8BC4<0�@D4�2>=CA>;U�?D434�B4A�20;85820302><>�4G24;4=C4">B� 0;C0E>24B� 5>A<0=�D=� B8BC4<0�10B03>�4=� ;0B3>B� 2>;D<=0B� CQ?820B� 0� 0<1>B� ;03>B� 34;4B24=0A8>�� <OB� D=� B8BC4<0� 34� A45D4AI>� B8CD03>34109>� 34;� 4=C0A8<03>� 38A8683>� 0� ;0� ?0AC4� 24=CA0;34� ;0� 0D384=280� +=� 6AD?>� 34� 58;CA>B� 02C8E>B3868C0;4B� 38BCA81DH4=� ;0B� 5A42D4=280B� 70280� 4;2>=9D=C>� 34� 0;C0E>24B� ?A428B>�� B4� CA0C0� 34� � @D4C>30B� ;0B� 2090B� 5D=28>=4=� 2><>� B8� B4� CA0C0A0� 34D=0� ?0=C0;;0� B>=>A0� 6860=C4�� 3>=34� 2030� B>=83>4<4A90�34�D=�?D=C>�?A428B>">B� 38BC8=C>B� C42;03>B� B>=� <4I2;03>B� 34B34� 4;<8B<>�4B24=0A8>�� ?0A0�2030�?0B094�<DB820;�70H?A4?0A030� D=0� <4I2;0� 38BC8=C0� )8� =>� B4� 78284A00BQ�� ;>B� 20=0;4B�34�4=CA030�34� ;0�<4B0�?A8=28?0;B4�<D;C8?;820AQ0=��4�4BC0�5>A<0��4;�CP2=82>�A428140� 2030� C42;8BC0� ?>A� D=>B� 20=0;4B� 2>=2A4C>B�B84<?A4� ;>B�<8B<>B�� H0� @D4� 34B34� 4;� 4B24=0A8>H0� B4� 70� A40;8I03>� D=0� ?A4�42D0;8I028U=� H� D=?A>24B03>�2>=2A4C>B��B46V=�4;�C8?>�34�B>=83>�@D48=C4A4B4�4=�2030�<><4=C>&0A0� 20?C0A� 4;� ?80=>� 02VBC82>� B4� DC8;8I0=� 3>B<82AU5>=>B� 34� 2>=34=B03>A� 34� 38A4228>=0;8303E0A801;4��=�0;6D=>B�?0B094B�B4�DB0�D=�4G28C03>A2>=� C0;� 34� @D4� 4;� B>=83>� 34;� ?80=>� A4B0;C42;0A0<4=C4�B>1A4�;>B�C42;03>B�4;42CAU=82>B�=28<0� 34;� 4B24=0A8>� =>� 70H ������������ BU;>0;C0E>24B� 34� <>=8C>A� @D4� 30=� D=� B>=83>� ?>2>8=C4=B>�?4A>�<DH�;8<?8>��H0�@D4�B4�8=C4=C0�@D4�;0

?A4B8U=�B>=>A0�?A4B4=C4�4=�4;�4B24=0A8>�=>�B40�<DH�4;4E030��4BC>�5028;8C0�D=�2>=CA>;�<OB�?A428B>+=� >A34=03>A� ?A>6A0<0� C>3>B� ;>B� 4542C>B� @D4� B4� DC8;8I0=� 3DA0=C4� 4;� 2>=284AC>�� H� ;>B� E0� 2>=42C0=3>� H34B2>=42C0=3>� 20=0;� ?>A� 20=0;� *>3>B� ;>B� 4542C>B� H� ?A>24B03>B� B>=>A>B� 34� C42;03>B� H� 6D8C0AA0B� 4BCO=2>=<DC03>B�0DC><OC820<4=C4�&>A�<438>�34;�?A>6A0<0�B42D4=2803>A��D10B4�4;�8=64=84A>�?D434�E4A�?>A�;0?0=C0;;0�� B8CD030�0;� ;03>�34� ;0�<4B0�?A8=28?0;��2DO;�4B� ;0�B42D4=280�34�2>=4G8U=34B2>=4G8U=�34� C>3>B� ;>B4542C>B�)8�BDA64�0;6V=�?A>1;4<0�4=�2D0;@D84A�?D=C>� ;0�B4S0;�0542C030�4B�34BE8030�34;�20=0;��H�?A>24B030?>A� <438>� 34� 3>B� A02:B� 0DG8;80A4B� @D4� C84=4� 0� BD� ;03>� �BC>B� A02:B� 2D4=C0=� 2>=� 3>B� 0A<>=8I03>A4B�?A>24B03>A4B�<D;C84542C>B�� 2><?A4B>A4B�� 42D0;8I03>A4B� 6AO582>B�� ?D4AC0B� 34� AD83>� H� ;8<8C03>A4B� ��86� � ��;8BC>B�?0A0�B4A�DC8;8I03>B�B8�BDA64�2D0;@D84A�4E4=CD0;8303+=�B8BC4<0�B42D=30A8>�34�0<?;8582028U=�2>=� A4C0A3>�?D434�B4A�DC8;8I03>�2D0=3>�B4�02CV0�4=� A428=C>B�<DH6A0=34B�>�0;0A603>B��;0�4BCAD2CDA0�34�4BC4�B8BC4<0�4B�83P=C820�0�;0�34;�?A8=28?0;��?4A>�BD�C0<0S>�4B�<4=>A�HBD�?>C4=280�<OB�A43D2830