!"#$%&'%(!)*+!),-) !!!./0&1#!2+!344&#!5666789#4'1/9!7:/1
;</%84+!='>#!-?
!"#$%&'()&(*+
2'1<&4!@#6477777777777777777777777 *
"#'8&%#!7777777777777777777777777777777777 5
;<#:A'0!B#</%8!7777777777777777777777 C
D<AEA/E!77777777777777777777777777777777 -)
;</%84!7777777777777777777777777777777777 -F
2GH2I!DJK!2L"H!;LMDN
!"#$%&'%#'(")*$+,&'-#-$(#'.
#/&0#0$-"#$1')20$0,'3/4$-"#$
(")25
LOH+!<'>#!--
$,-./'
01,23,45,678'
49-:;,6'<=:'
>-/,>-77'?,76'
:,1=@-5A=1/6&7,#8$9#&7#'!"#$$%&'(")'
&-.=%/'.-:49A1;'>-16'-16'/=44,:B'
>-/,>-77'-16'<==5>-77'5,-./'C,:,'-/D,6'
01,23,45,678'5='4=15:A>05,'EFBGGG',-49'
5=C-:6/'59,'4=/5'=<':,H/=66A1;'59,'>-/,H
>-77'?,76I
#44=:6A1;' 5='*A:,45=:' =<'$9,-5,:'
J3,:-5A=1/' -16'K-4A7A58' L,:.A5/'M-:,8'
N35=1B'A<'59,'5,-./'4=15:A>05,6'EFBGGG'
,-49'59,8'C=076'>,'3-8A1;'?@,'3,:4,15'
=<'59,'5=5-7'4=/5'=<'59,':,HA1/5-77,6'=05H
?,76' ;:-//I' +@,1' 59=0;9' 59,' >-/,>-77'
5,-.'3:A.-:A78' 0/,/' 59,' ?,76B' 59,' 3:=H
;:-./'59-5'0/,6'A5'60:A1;'59,':,4=1/5:04H
5A=1'=<'59,'<==5>-77'?,76'C,:,'-/D,6'5='
3-8'59,'/-.,'EFBGGGB'>,4-0/,'59,'.=1H
,8' >-/,>-77' :-A/,/' 59:=0;9' <016:-A/,:/'
<:,O0,1578' A/' /3,15' =1' 03D,,3' =<' 59,A:'
?,76I
P!,%:,' -/DA1;' 59,' 3,=37,' C9='
0/,6'59,'?,76'5='3A549'A1'<=:'59,':,3-A:/BQ'
N35=1' /-A6I' P(5%/' 1=5' <-A:' <=:' >-/,>-77B'
C9A49'-7:,-68':-A/,6'-'7=5'=<'.=1,8'<=:'
59,'?,76B'5='>,'/504D'CA59'-'.-R=:A58'=<'
59,'4=/5I'#'7=5'=<'=59,:'3:=;:-./'0/,'59,'
?,76IQ
"=C,@,:B';A:7/%'/=44,:'4=-49'SA.H
.8'M9-3.-1'<,,7/'A5'A/'01<-A:'5='49-:;,'
5,-./'C9=':-:,78'0/,'59,'?,76'59,'/-.,'
-.=015'-/'59=/,'59-5'6=I
P('59A1D'A5'A/'/5A77'03'<=:'6A/40//A=1BQ'
M9-3.-1' /-A6I' P(' 6=1%5' >,7A,@,' 59,'
-.=015'9-/'>,,1'?1-7AT,6'>,4-0/,'59,:,'
-:,' O0,/5A=1/' ->=05' 59,' <-A:1,//' =<' 59,'
<016/'60,'5='59,'5A.,'4,:5-A1'3:=;:-./'
0/,'59,'?,76IQ
M9-3.-1'-7/='/-A6'59-5'59,'3:=3=/H
-7'6=,/'1=5'<-45=:'A1'<050:,'0/,'=:'59,'-4H
4,//'5,-./'CA77'>,';A@,1'5='59,'1,C'?,76I
'#44=:6A1;' 5='M9-3.-1B' -597,5,/'
CA77'/0<<,:' A<' 59,' 5,-.'A/'<=:4,6'5='3-8'
59,'EFBGGGI
P$9,'.=1,8'C=076'4=.,'6A:,4578'
<:=.'=0:'3:=;:-./'C9A49'A/',//,15A-778'
<:=.' =0:' 37-8,:/BQ' M9-3.-1' /-A6I'
PL7-8,:/'C=076'9-@,'5='3-8'<=:'-'?,76'
59-5'59,8'9-@,1%5'0/,6'<=:'59:,,'8,-:/IQ
#44=:6A1;'5='>-/,>-77'M=-49'&9,7H
6=1'L9A7A3HU0A6,B'59,'>-/,>-77'3:=;:-.'
A/'0/,6'5='4=15:A>05A1;'5='?,76'4=/5/I'",'
-7/='<,75'59-5'59,'/5-5,'=<'59,'?,76'4-1'-<H
<,45'&-.=%/':,305-5A=1I'
PN1<=:501-5,78B' ?,76' 4=16A5A=1'
37-8/'-'@,:8'>A;':=7,' A1' 59,'/-<,58'-16'
37-8'=<' 59,';-.,I'&='59,'>-/,>-77'3:=H
;:-.'9-/' 5=' :,3-A:' 59,'?,76' -110-778BQ'
L9A77A3HU0A6,'/-A6I'P)=5'5='.,15A=1B'A1'-'
4,:5-A1'C-8B'A5%/'9=C'=59,:'/49==7/';,5'5='
/,,'=0:'4-.30/I'(<'59,8'4=.,'5='37-8'=0:'
/49==7B'-16'/,,'-'1A4,'?,76B' 59,8'59A1D'
59,'4-.30/'-/'-'C9=7,'A/'1A4,I'#16'59,'
=33=/A5,'A/'5:0,'-/'C,77IQ
L9A77A3HU0A6,' >,7A,@,/' ' 59-5' 3:=H
;:-./'59-5'0/,'59,'?,76'/9=076'4=15:A>H
05,'5='59,'4=/5'=<'.-A15-A1A1;'A5I
#44=:6A1;' 5=' N35=1B' 59,' 6A/5:A45'
C=076'4=@,:'-77'59,'?,76'.-A15,1-14,'A<'
59,8'9-6'59,'<016A1;I
P&=.,'3,=37,'<,,7'59A/'A/'-'6A/5:A45'
:,/3=1/A>A7A58I'"=C,@,:B' 59,'4A5AT,1/'=<'
M-7A<=:1A-'9-@,'1=5';A@,1'0/'59,'.=1,8'
5='<0778'3-8'<=:'A5BQ'N35=1'/-A6I'P#/'-':,H
/075'=<'405/'C,'C,15'<:=.'/A2';-:6,1,:/'
5='5C=IQ
#44=:6A1;' 5=' N35=1B' 59,' 4=/5' =<'
A1/5-77A1;' 1,C' =05?,76' ;:-//' A14:,-/,6'
>,4-0/,'59,8'9-6'5='0/,'/=6'A1/5,-6'=<'
37-15A1;' ;:-//' /,,6/I' N35=1' /-A6' 59-5'
59,8'C=076'9-@,'0/,6'/,,6/'A<'/49,607H
A1;'-77=C,6' 59,.'5=B'>05'01<=:501-5,78'
59,8'-7/='9-6' 5='6,-7'CA59' 59,' <==5>-77'
?,76'>,A1;'47=/,6I
P(5'C=076'9-@,'>,,1'49,-3,:'A<'C,'
!"#$%&'()*'+#$,!)-)!"#$%&'(")
PB3@Q!PLB@H;!PL2IN!:")-)$(-,0#/-($;<')7$8#<-$-)$'34"-=$>,83&$?#'"&'0-@$6)A&$B#'/(-#3/$&/0$C&--$D83/#$*')-#(-$3/$-"#$613#/1#$E,&0$-)$
%'3/4$%&1F$-"#$<)'7#'$*")-)$-#&1"#'@$G88&/$B&'/#(@$&<-#'$"#$2&($'#7)H#0$<')7$(1"))8$#&'83#'$-"3($I#&'5$6-,0#/-($(&I$B&'/#($8#<-$6&7)$<)8.
8)23/4$-"#$03(1)H#'I$)<$(#73./,0#$*31-,'#($)/$-"#$(1"))8$1)7*,-#'$(#'H#'$-"&-$"&0$%##/$-&F#/$3/$-"#$6&7)$*")-)$(-,03)5$!"#$*")-)($2#'#$
3/-#/0#0$<)'$&$(-,0#/-J($1)88#4#$*)'-<)83)5$:")-)$(-,0#/-($'&883#0$%#"3/0$B&'/#(@$1&883/4$<)'$"3($'#-,'/$0,'3/4$&$8,/1"$-37#$*')-#(-$)/$K#05$L#%5$
MM5$B&'/#($2&($)'343/&88I$'#*8&1#0$%I$(")'-$-#'7$(,%(-3-,-#$-#&1"#'$6#&/$:&283/4@$-"),4"$:&283/4$"&($/)2$%##/$'#*8&1#0$%I$8)/4$-#'7$
(,%(-3-,-#$G831#$N&885$O/$F##*3/4$23-"$P3(-'31-$*)831I@$-"#$&073/3(-'&-3)/$2388$/)-$1)77#/-$)/$-"3($*#'()//#8$3((,#5
(770.A1-5,',::=:/'6,7-8'/,1A=:/%'.A68,-:';:-6,':,3=:5/'5='4=77,;,/6&7,#8$9#&7#'!"#$$%&'(")'
!"#$%#&'()"#)*+,')$-"
*0,' 5=' A14=::,45' ;:-6,' 4-7H
407-5A=1/B' &-.=' 9-6' 5=' 3=/53=1,'
/,16A1;' =05' /,1A=:' .A68,-:' 5:-1H
/4:A35/' 5=' 4=77,;,/I' "=C,@,:B' 59,'
5:-1/4:A35/' C,:,' /,15' =05' =1' 59,'
K,>I'VW'60,'6-5,B'-7=1;'CA59'-'7,5H
5,:',237-A1A1;'59,'/A50-5A=1I
#44=:6A1;' 5=' 4=77,;,' 4=01H
/,7=:'X=/-'Y,RA-B'/506,15/'/9=076'
1=5' C=::8' ->=05' 59,A:' .A6H
8,-:' 5:-1/4:A35/' ;,55A1;' 5=' 59,A:'
/49==7/I' Z-/5' 8,-:B' -44=:6A1;' 5='
Y,RA-B'&-.='/,15'59,.'-:=016'59,'
/-.,'5A.,I
P$9,:,'9-@,'>,,1'036-5,/'=1'
59,' 5:-1/4:A35/' 59-5' 9-@,' 5-D,1' -'
7A557,' 7=1;,:BQ' Y,RA-' /-A6I' P$9,'
.-A1'6,-67A1,'<=:'4=77,;,/'A/'K,>I'
VWB'-16'<=:'59,'.=/5'3-:5'59-5'A/'-'
3=/5.-:D'6,-67A1,IQ
&,1A=:' 47-//' 3:,/A6,15' &3,1H
4,:' U==6.-1' <,,7/' 59-5' 59,'
/49==7%/'-337A4-5A=1'3:=4,//'A/'=05'
=<' 6-5,I' "=C,@,:' 9,' >,7A,@,/' A5'
CA77'>,'<A2,6'>8'1,25'8,-:I
P('6=1%5'59A1D'A5%/'-18'=1,'3,:H
/=1%/' <-075I'!9,1' (' C,15' 4=77,;,'
5=0:A1;'('<=016'=05'59-5'-7.=/5'[W'
3,:4,15'=<'9A;9'/49==7/'/0>.A5'59,'
.A68,-:' 5:-1/4:A35/' =17A1,I' (5%/'
DA16'=<':A6A407=0/'59-5'&-.='A/'/='
>,9A16B'>05'('D1=C'59-5'-'>0149'=<'
.=1,8'C-/' /,5' -/A6,' 5=' :,H6=' 59,'
4=77,;,'4,15,:BQ'U==6.-1'/-A6I'P('
59A1D'59-5'CA77'>,':,-778'>,1,<A4A-7'
5=' /506,15/' -3378A1;' 1,25' 8,-:'
-16'/='=1I'N1<=:501-5,78'59A/'8,-:'
.0/5'>,'-'5:-1/A5A=1-7'8,-:IQ
#44=:6A1;'5='&H"=0/,'L:A14AH
3-7' S-/=1'\0:5,1>-49B' 59,' /49==7'
C-/' -7.=/5' ->7,' 5=' 6A;A5AT,' 59,' !"#$%#&'()"#)*+,')$-"
K#$&'#$&(F3/4$1)&1"#($-)$&((3(-$3/$-"#$<,/0.
'&3(3/4@$%,-$-"3($3($&$H#'I$,/3+,#$(3-,&-3)/5$K#$0)/J-$
2&/-$-)$0)$-"3($#H#'I$I#&'5Q
RG-"8#-31$P3'#1-)'@$P&/3#8$S(1&8#'&
'''''
3:=4,//'<=:'59A/'8,-:%/'-337A4-15/B'
-16' >8' 1,25' 8,-:' 9,' A/' 4=1<A6,15'
59-5' -' .=:,' ,<<A4A,15' /8/5,.' CA77'
>,'03'-16':011A1;I
P!,' -:,' -7:,-68' C=:DA1;' =1'
5:8A1;' 5='.-D,' 59,' ,15A:,' 3:=4,//'
6A;A5-7BQ'\0:5,1>-49'/-A6I'P!,'-:,'
7==DA1;' -5' 6A<<,:,15' 4=.3-1A,/'
59-5' 3:=604,' 59,' 5:-1/4:A35' ,7,4H
5:=1A4-778' -16' /0>.A5' A5' 5=' 4=7H
7,;,/'<=:'0/I'!,'>,7A,@,'59,'4=/5/'
/9=076' >,' /A;1A<A4-1578' 49,-3,:'
59-1' /,16A1;' ,@,:859A1;' =05' >8'
.-A7IQ
\0:5,1>-49'-7/='/5-5,6'59-5'-'
6A;A5-7' /8/5,.'.-8' ,@,1' >,' /-<,:'
59-1' -' 3-3,:' =1,B' >,4-0/,' A5' CA77'
-77=C' 59,' 4=77,;,' 4=01/,7=:/' 5='
/3,16'.=:,'5A.,'9,73A1;'/506,15/'
3,:<,45'59,A:'5:-1/4:A35/I
29#:R!/&8!89#!$/(4S!4/::#%!
>'1#!'>'AE48!P/EA8'!GA>97
29#:R!/&8!89#!0AT#4!/U!4&$48AV
8&8#!8#':9#%4!'8!;'1/7"#'8&%#+!='>#!W
!,'/$ -)$ :&4#$ T$ -)$ '#&0$
&%),-$U6&7)$!"'),4"$-"#$
P#1&0#(Q$&/0$(##$*")-)($
<')7$ I#&'%))F($ 0&-3/4$
%&1F$-)$VWXV5
!"#$ %&'%#()$ *+,''#-$ ./$ )"#$
011&%2,)#-$ 3)4-#')$ 5&-/$ 60357$
8&($9#.:$;<)"$=,1$*&1)*&'#->$#88#%?
)2@#+/$%,'%#++2'A$2):
B'$!"4(1-,/>$9#.:$C$#@#')$%&?
&(-2',)&($ ,'-$035$ D#D.#($ E,D?
#(&'$F#@#')#'$=,1$2'8&(D#-$&8$)"#$
,-D2'21)(,)2&'G1$-#%212&':
HI$ =,1$ )&+-$ ./$ D/$ 035$ ,-?
D2'21)(,)&($)",)$)"#$%&'%#()$=,1$'&)$
A&2'A$ )&$",**#'>J$ K4'2&($F#@#')#'$
1,2-:$H3"#$)&+-$41$L)"#$,-D2'21)(,?
)2&'M$=,')#-$ 41$ )&$ *&1)*&'#$ L)"#$
%&'%#()M>$.4)$,)$ )",)$*&2')>$ 2)$=,1$
@2()4,++/$ 2D*&112.+#$ )&$ %&')2'4#$
=2)"$)"#$1,D#$,()21)1:J
!"#$,()21)1$1%"#-4+#-$)&$*#(?
8&(D$ =#(#$ N,(D$ 5(#=>$ E,1#/$
O#AA2#1$ ,'-$ 1*#%2,+$ A4#1)$ P&D$
Q#''#-/:
0%%&(-2'A$ )&$ F#@#')#'>$
*(#*,(,)2&'1$ +2R#$ ,()21)$ .&&R2'A1$
,'-$ D#(%",'-21#>$ 8+&&($ *+,'1>$
%&'%#112&',+$ 8&&-1>$ 1#%4(2)/>$ *4.?
+2%2)/$ ,'-$ *&)#')2,+$ (#@#'4#$ ",-$
.##'$ %&'82(D#->$ .4)$ )"#$ 9#.:$ ;<$
%&'%#()$=,1$1)2++$%,'%#++#-:
HN#$ ",-$ *#(1&',+2S#-$ =(21)?
.,'-1$ )",)$=#(#$ "#(#$ ,'-$ (#,-/$ )&$
A&>$,+&'A$=2)"$8+2#(1$)",)$=#$",-$)&$
A&$*2%R$4*>J$F#@#')#'$1,2-:
0%%&(-2'A$ )&$ 3,D&$0%)2@2)2#1$
P2(#%)&($,'-$035$,-@21#($O#(&'2%,$
T,(%2,?U#%")>$#@#'$,8)#($,++$&8$)"21$
*(#*,(,)2&'>$ )"#$ 1)4-#')1$ +,%R#-$
H-#),2+1J$2'$)"#$*,*#(=&(R$,'-$&'+/$
82++#-$ %#(),2'$ (#V42(#D#')1$ ,8)#($
)"#/$ =#(#$ 2'1)(4%)#-$ )&$ -&$ 1&:$ 5/$
)"#$ )2D#$ )"#1#$ (#V42(#D#')1$ =#(#$
82++#->$ T,(%2,?U#%")$ 1,/1>$ 2)$ =,1$
,+(#,-/$)&&$+,)#:
H035$ -2-$ '&)$ A#)$ )"#$ *(&*#($
,**(&@,+1$ 2'$ )2D#:$!"#/$*+,''#-$2)$
="#'$ &4($ &='$ )#%"'2%2,'1$ L=&4+-$
.#M$.41/$=2)"$3&4)"$W,%282%$L="2%"$
",-$ ,++$ )"#2($ ,**(&@,+1$ 2'$ #,(+/M>J$
*(2'%2*,+$ F,4(#+$ 9(#)S$=(&)#$ 2'$ ,'$
#D,2+:$HW+41$.#%,41#$&8$)(/2'A$)&$-&$
2)$&'$)"#$;<)">$5,('4D$U,++$=,1'G)$
,@,2+,.+#:J
B'$ )"#$ ;<)">$ ,$ )#%"'2%,+$ (#?
"#,(1,+$ 8&($ )"#$ )"#,)#($ *(&A(,DG1$
H3&4)"$ W,%282%>J$ $ 21$ 1%"#-4+#-$ )&$
",**#'$2'$5,('4D:
HI'$ &(-#($ 8&($ )"#$ L%&'%#()M$ )&$
",**#'>$ ,++$ &8$ L3&4)"$ W,%282%G1M$
#V42*D#')$ =&4+-G@#$ ",-$ )&$ ",@#$
A&'#$,=,/>J$!#%"'2%,+$!"#,)#($E&?
&(-2',)&($P,@2-$X%E(4D$1,2-:
P2(#%)&($&8$!"#,)#($B*#(,)2&'1$
,'-$ 9,%2+2)/$ W#(D2)1$ E,(#/$ Y*)&'$
1,/1$ )"#$%&'%#()$*+,''2'A$%&DD2)?
)##$8,2+#-$)&$D##)$-#,-+2'#1:
HZ&4$",@#$)&$A#)$,$.4-A#)$+&'A$
,"#,-$&8$ )2D#>$ ,'-$ )"#'$ 82A4(#$&4)$
=",)$/&4($)2%R#)$1,+#1$,(#$A&2'A$)&$
.#>$)&$*(&@#$)",)$/&4$%,'$D##)$)",)$
.4-A#)>J$Y*)&'$1,2-:
U&=#@#(>$F#@#')#'$)"2'R1$)"#$
%&'%#()$=,1$%,'%#++#-$8&($-288#(#')$
(#,1&'1>$*,()+/$.#%,41#$&8$)"#$%&D?
D4'2%,)2&'$ 2114#1$ .#)=##'$ 035$
,'-$,-D2'21)(,)&(1:$
F#@#')#'$ ,+1&$ )"2'R1$ )"#$ ,-?
D2'21)(,)2&'$ =,1$ 4'%&D8&(),.+#$
"&1)2'A$ ,$ .,'-$ ',D#-$ HN,(D$
5(#=>J$ ,'-$ )"#$ A(&4*G1$ #[*+2%2)$
1&'A$ +/(2%1$ ,882(D#-$ )"#$ 2',**(&?
*(2,)#'#11:
3&*"&D&(#$ 5#'$ 5(,-/$ )"2'R1$
,-D2'21)(,)&(1$ =#(#$ =&((2#-$ )"#$
%&'%#()$%&4+-$%,41#$(,%2,+$,'-$@2&?
+#')$*(&.+#D1:
H!"#/$1,2-$2)$=&4+-$%,41#$)&&$
D4%"$@2&+#'%#>J$5(,-/$1,2-:
U&=#@#(>$ ,%%&(-2'A$ )&$ T,(?
%2,?U#%")$ )"#$ (#%#')$ @2&+#'%#$ ,'-$
(,%2,+$2114#1$-2-$'&)$,88#%)$)"#$%,'?
%#++,)2&':
X#D.#(1$ &8$N,(D$5(#=$ 1,2-$
)"#$ %&'%#()$ =&4+-$ ",@#$ 1*,(R#-$
*&12)2@2)/$ ,'-$ %&4+-$ ",@#$ #@#'$
"#+*#-$ ,++#@2,)#$ ,'/$ )#'12&'1$ ./$
.(2'A2'A$ )"#$ 3,D&$ %&DD4'2)/$ )&?
A#)"#(:$
H9&($ 41$ )&$ -&$ ,$ 1"&=$ =&4+-$
.#))#($(#+,)2&'1$.#)=##'$#@#(/.&-/$
"#(#>J$N,(D$5(#=$D#D.#($\,"D24$
Q,S##D$ 1,2-:$ HI)$ =&4+-'G)$ D,R#$
,'/)"2'A$=&(1#>$,'-$)"#(#$-#82'2)#?
+/$=&4+-'G)$.#$,'/$82A")1:J
N,(D$5(#=$ ",-$ .##'$ #[%2)#-$
)&$*#(8&(D$,)$3,D&:
HN#$=#')$"#(#>$ 1&$ 2)G1$ 2D*&(?
),')$ )&$ D,R#$ 14(#$ )"#$ R2-1$ R'&=$
)",)$ )"#/$'##-$ )&$ 14**&()$ (#,+$"2*?
"&*>J$ D#D.#($ !,/+&($ ],/$N(2A")$
1,2-:$ HN#$ =,')$ )&$ D,R#$ 14(#$ )"21$
#(,$+2@#1$&'$2'$)"#$(2A")$+2A"):J
N,(D$ 5(#=$ ,'-$ E,1#/$ O#A?
A2#1$ ",-$ *+,''#-$ )&$ -&',)#$ ,$ *&(?
)2&'$ &8$ )"#2($ #,('2'A1$ 8(&D$ D#(?
%",'-21#$1,+#1$)&$0OIP:
!"&4A"$ )"21$ %&'%#()$=,1$ %,'?
%#++#->$ F#@#')#'$ 21$ &*)2D21)2%$ )",)$
,'&)"#(>$ 12D2+,($ #@#')$ %,'$ .#$ 14%?
%#1184++/$*+,''#-$,'-$#[#%4)#-:
H0$%&'%#()$2'$A#'#(,+$21$1&D#?
)"2'A$I$,D$*41"2'A$)&$-&>J$1"#$1,2-:$
HI$,D$'&)$+#))2'A$)"21$-&='$=2)"&4)$
,$82A")$,'-$I$=,')$3,D&$)&$#[*#(2?
#'%#$,'$#@#')$ +2R#$ )"#$&'#$=#$",-$
*+,''#-:J
!"#$%&'($ )"$*()$&$+#,*()$ -".*$&%(&,$"/$ )01(2$&.,$)%(.$3*#4($"#)$5%&)$6"#4$)078()$9&-(9$&4($*"0.*$)"$+(2$)"$:4"'($)%&)$6"#$7&.$1(()$)%&)$+#,*();<$$$$$$$$
=$>04(7)"4$"/$?%(&)(4$@:(4&)0".9$&.,$A&70-0)6$B(410)92$C&4(6$D:)".
)"#'$)"#/$=&4+-$%,++$41:J
0%%&(-2'A$ )&$X#K2,>$3,D&$ 21$
",@2'A$,$*(&.+#D$=2)"$I++4D2',)#$
.#%,41#$ &8$ 2'#[*#(2#'%#-$ 41#(1>$
'&)$.#%,41#$&8$,$1/1)#D$#((&(:
H!"#$ *(&.+#D1$ =#G(#$ ",@2'A$
,(#$ D&1)+/$ .(&4A")$ 4*&'$ ./$ )"#$
41#($8,%)&(>J$X#K2,$1,2-:$HI)G1$+2R#$
"&=$="#'$/&4$*(&A(,D$,$%&D*4)?
#($ 2)$ '##-1$ )&$ .#$ -&'#$ %&((#%)+/>$
&($ 2)$=&'G)$=&(R:$!"#$ 1,D#$ )"2'A$
,**+2#1$ =2)"$ ,'/$ 1&8)=,(#>$ )",)$
/&4$",@#$)&$2'*4)$2)$%&((#%)+/$&($2)$
=&'G)$=&(R:J
X#K2,$=#')$&'$)&$1,/$)",)$)"#$
,-D2'21)(,)2&'$ 21$ %4((#')+/$ =&(R?
2'A$ )&$ #-4%,)#$ )#,%"#(1$ &'$ "&=$
)&$,88#%)2@#+/$41#$ I++4D2',)#:$3"#$
1,2-$)",)$&'%#$)#,%"#(1$84++/$A(,1*$
"&=$)&$&*#(,)#$I++4D2',)#>$%&++#A#$
)(,'1%(2*)1$=2++$.#$D4%"$#,12#($ )&$
1#'-$&4):$
H5#8&(#$ I++4D2',)#$ =#$ ",-$
]#8+#%)2&'1$ ="2%"$ =,1$ 8(&D$ )"#$
^_`1$ ,'-$ ,(%",2%:$ U&=#@#($ '&=$
)",)$=#$",@#$I++4D2',)#>$="2%"$ 21$
2')#('#)$ .,1#->$ =#$ %,'$ 1#'-$ &4)$
)"#$ (#*&()1$ )",)$ %&++#A#1$ (#V42(#$
-2A2),++/>J$X#K2,$1,2-:$Ha#[)$/#,($
)"#(#$=&'G)$.#$,1$D,'/$#'@#+&*#1$
,'-$ 1),D*1$ ,'-$ 1)4-#')1$ =&'G)$
",@#$)&$=&((/$,.&4)$+#,('2'A$"&=$
)&$,--(#11$,'$#'@#+&*#:$ I)$=2++$.#$
,$D4%"$#,12#($*(&%#11:J
%&4+-$",@#$41#-$A(,11$2'1)#,-$&8$1&->$.4)$
4'8&()4',)#+/$ A(,11$ =&4+-$ ",@#$ ),R#'$
)&&$ +&'A$ )&$A(&=>J$Y*)&'$ 1,2-:$ HI8$=#$
",-$41#-$A(,11$)"#$b#+-$=&4+-$'&)$",@#$
.##'$(#,-/$8&($.,1#.,++$1#,1&':J
0)"+#)2%$P2(#%)&($P,'2#+$c1%,+#(,$
1,2-$ )",)$ )"#$ ,-D2'21)(,)2&'$ -$ '&)$
*+,'$ )&$ D,R#$ ,$ *,))#('$ &4)$ &8$ ,1R2'A$
)#,D1$8&($D&'#/:
HN#$,(#$,1R2'A$%&,%"#1$)&$,1121)$2'$
)"#$84'-(,212'A>$.4)$)"21$21$,$@#(/$4'2V4#$
12)4,)2&'>J$ c1%,+#(,$ 1,2-:$ $ HN#$ -&'G)$
=,')$)&$-&$)"21$#@#(/$/#,($,'-$"&*#84++/$
=#$=&'G):$!"#$b#+-$=2++$ '&)$A#)$",D?
D#(#-$'#[)$/#,($+2R#$2)$-2-$+,1)$/#,($.#?
%,41#$)"#$8&&).,++$b#+-$=&'G)$.#$%+&1#-:J
0%%&(-2'A$ )&$ c1%,+#(,>$ )"#$ '#=$
.,1#.,++$ b#+-$ 21$ '&=$ .#))#($ #V42**#-$
,'-$=2++$'&)$.#$41#-$,1$8(#V4#')+/>$)"#(#?
8&(#$(#-4%2'A$)"#$'##-$8&($(#*,2(1:
HN"#'$=#$%&'1)(4%)#-$)"#$8&&).,++$
b#+-$ #@#(/&'#$ =,1$ -4D*#-$ &'$ )&$ )"#$
.,1#.,++$b#+->$="2%"$*4)$)&&$D4%"$1)(,2'$
&'$2)>J$c1%,+#(,$1,2-:$HB'$)&*$&8$)",)$=#$
",-$ 2114#1$ =2)"$ )"#$ 2((2A,)2&'$ 1/1)#D:$
N#$-&'G)$=,')$)"#$(#*,2(1$)&$.#$,$414,+$
)"2'A:$0+1&$=#$,--#-$,$)(,%R$1&$)(4%R1$
%,'$A&$&'$)",)$2'1)#,-$&8$)"#$A(,11$="2%"$
=2++$%,41#$+#11$-,D,A#:J
3&*"&D&(#$D,(%"2'A$ .,'-$D#D?
.#($5#'$E,',+#1$)"2'R1$2)$21$4'8,2($)&$,1R$
)"#$*(&A(,D1>$="2%"$,+1&$-&$'&)$(#%#2@#$,$
+&)$&8$84'-(,212'A$8(&D$)"#$-21)(2%)>$)&$*,/:
HI$ -&'G)$ )"2'R$ D,(%"2'A$ .,'-$
1"&4+-$",@#$)&$*,/$8&($)"#$'#=$b#+-$.#?
%,41#$=#$-2-'G)$-&$,'/$-,D,A#$)&$ )"#$
&+-$&'#:$N#$41#-$)"#$b#+-$(#1*#%)84++/>J$
E,',+#1$1,2-:$H!"#$D,2'$*(&.+#D$=2)"$
)"#$b#+-$%,D#$8(&D$)"#$,)"+#)#1$412'A$2):$
!"#2($%+#,)1$%,'$-,D,A#$)"#$A(,11:$54)$
)"#$-21)(2%)$1"&4+-$*,/$8&($2)$.#%,41#$)"#$
,)"+#)#1$,(#'G)$-&2'A$,'/)"2'A$=(&'A$./$
*(,%)2%2'A:$I)G1$)"#$-21)(2%)1$(#1*&'12.2+2)/$
)&$R##*$,$"#,+)"/>$1,8#$b#+-:J
\4'2&($ 8&&).,++$ *+,/#($ X,))"#=$
]41R?Q&1,$.#+2#@#1$)"#$8&&).,++$)#,D$21$
=2++2'A$)&$"#+*$*,/$8&($)"#$b#+-$.#%,41#$
21$,$'#%#112)/$8&($)"#2($*(&A(,D:
HI$ )"2'R$ )"#$ 1%"&&+$ 1"&4+-$ %&@#($
2)>$.4)$2)G1$&R,/$28$#@#(/&'#$,A(##1$)&$-&$
2)$,'-$",1$)"#$D#,'1$)&$-&$2)$)"#'$)"#/$
1"&4+-$"#+*$&4)$=2)"$ )"#$b#+-:$N#$,(#$
1)(2@2'A$ )&$%(#,)#$,$.#))#($*(&A(,D$,'-$
,$'#=$b#+-$=2++$"#+*$=2)"$)",)>$.4)$=#$
-&'G)$=,')$2)$)&$.#$1&D#)"2'A$#[)#'12@#:$
I)G1$+2R#$&4($A28)$)&$)"#$84)4(#$%+,11#1:J
c1%,+#(,$ 4'-#(1),'-1$ )"#$ (#1#')?
D#')$*(&A(,D1$8##+$,.&4)$",@2'A$)&$*,/>$
.4)$1)2++$8##+1$2)$21$,$'#%#112)/:
Hd;>```$21$,$+&)$&8$D&'#/$)&$,1R$8&($
,'-$)#,D1$=&4+-$(,)"#($R##*$)",)$D&'#/$
2'$)"#2($&='$*(&A(,D>$.4)$=#$,+1&$",@#$
)&$*+,/$,'-$*(,%)2%#$&'$)",)$b#+->J$c1?
%,+#(,$1,2-:
! !
E&++#A#$%#')#($
-#+,/1$1#'-2'A$&4)$
D2-/#,($(#*&()1
C%&9($E"%4-(!"#$$%&'(")'
FG(59H
E&'%#()$1%"#-4+#-$./$011&%2,)#-$3)4-#')$5&-/$
8&($9#.:$;<)"$%,'%#++#-$./$,-D2'21)(,)2&'
!"#$%&$'()*+(),-)
! !!!"#$%!&
*')#+)',"-)*#+.-(/0.+
01.-'2),"-)*#+.-(/0.+
HI$ 4'-#(1),'-$ )"#$ 8(41)(,)2&'$
,D&'A$1)4-#')1$,.&4)$)"#$*(&%#11$
'&)$ .#2'A$ -2A2),+:$U&=#@#(>$ )"#(#$
,(#$ ,+1&$ 1&D#$*#&*+#$="&$ +2R#$ )&$
",@#$ 1&D#)"2'A$ ),'A2.+#$ )&$ "&+-$
&'$ )&>$ ,'-$ =#$ ,(#$ ,+1&$ =&(R2'A$
",(-$ )&$ D,R#$ )"#D$ 8##+$ %&D8&()?
,.+#$ A&2'A$ )&$ ,$ -2A2),+$ *(&%#11>J$
Q4()#'.,%"$ 1,2-:$ HN#$ ,(#$ .#2'A$
+#8)$ 2'$ )"#$ -41)$ ./$ D,'/$ &8$ )"#$
&)"#($ "2A"$ 1%"&&+1:$ 3,D&$ A&2'A$
-2A2),+$ *(&@2-#1$ 41$ =2)"$ D&(#$
&**&()4'2)2#1$ )&$ 1*#'-$ &4($ )2D#$
=21#+/$ ./$ D##)2'A$ =2)"$ 1)4-#')1$
,'-$"#+*1$41$A2@#$1)4-#')1$,'$#-A#$
&'$A#))2'A$2')&$%&++#A#:J$ $
X#K2,$ ,+1&$ 1,2-$ )",)$ 3,D&G1$
+,)#($ 1#'-$ &88$ -,)#$ =2++$ '&)$ ",@#$
,$.#,(2'A$&'$,$1)4-#')G1$%",'%#$&8$
,%%#*),'%#:
HN#$ ",@#$ L)&+-M$ )"#$ %&+?
+#A#1$ )",)$ =#$ ,(#$ A&2'A$ )"(&4A"$
,$ )(,'12)2&'$ =2)"$ (#A,(-1$ )&$ &4($
2'8&$ 1/1)#D$ LI++4D2',)#M>J$ X#K2,$
1,2-:$H0+1&$28$)"#$%&++#A#1$'##-#-$
A(,-#1$ 2DD#-2,)#+/$ 8&($ ,$ 1)4-#')$
!"#$%#&'()*+",)-./')"#'
!#,D1$,'-$D,(%"2'A$.,'-$.2++#-$8&($
'#=$2'1),++,)2&'$&8$1&-$&'$b#+-!"#$%#&'()*+",)-./')"#'
*')#+)',"-)*#+.-(/0.+
!"#$%&'()*'+#$,!)-)!"#$%&'(")
!"#$$#%&'()*+%I&,&4$J(4.(9$:(4/"419$&)$K:"--"$G0*%)2$&$)&-(.)$
9%"5$)%&)$5&9$%(-,$0.$L&4.#1$M&--$".$A40,&62$A(+;$NO;
!"#$%%&'() &'#&*"'+,) -.) +%",/0,,1
&'()-') +2")304-)#04/$,)56)'-'1304-)
,+$*"'+,)207")8".+)+2"),+$*"'+)/-/$80+&-')
9-%%&"*)05-$+),#2--8),0."+6:
;&(2+""'16"0%) -8*) 3"%(&-) <$%&"8=)
0)%",&*"'+)-.)>'(8"9--*)92-)/-,"*)0,)0)
4&'-%)+-)"'+"%)#04/$,=)90,)-'")+%",/0,,"%)
0%%",+"*)56)+2")30'+0)?-'�)@-8&#")A"1
/0%+4"'+)B3?@AC)-')D"5:)E=)088"("*86)0+1
+"4/+&'()+-),+08F)2&,)"G1(&%8.%&"'*=)0)304-)
,+$*"'+=)3?@A),0&*)&')0)/-8&#")%"/-%+:
<$%&"8)"'+"%"*)304-)(0+",)9&+2-$+)
0$+2-%&H0+&-') .-%) +9-) #-',"#$+&7") *06,)
5".-%")2")90,)0%%",+"*=)0'*)&+)&,),$,/"#+"*)
+20+) <$%&"8) ,+-8") 2&,) "G1(&%8.%&"'*I,) #"88)
/2-'")0'*)(07").08,")&'.-%40+&-')+-)0)/-1
8&#")-.J#"%:
>')0**&+&-'=).%",240')!-2""4)K0%&1
408&) ,0&*) +20+) ,2") -7"%2"0%*) +08F) 05-$+)
0'-+2"%)+%",/0,,&'()&'#&*"'+)&')+2")>12-$,")
-.J#")80,+)9""F:
L>) 2"0%*) 2-$,") 0,,&,+0'+) <20'M")
N0,2&'(+-')+08F&'()+-)0),"#$%&+6)($0%*)&')
+2")>12-$,")-.J#")05-$+)0)5-6)92-)20*)
(-++"')-')#04/$,)9&+2-$+)0')>A=)92-4)
,2")20*)*"+0&'"*)0'*)5%-$(2+) +-) +2")-.1
J#"=O) K0%&408&) ,0&*:) LN0,2&'(+-') ,0&*)
+20+)+2")F&*)90,)908F&'()+2")2088,)*$%&'()
#80,,) +&4"=)0'*) +20+)92"'),2")0,F"*).-%)
&*"'+&J#0+&-').%-4)2&4=)2"),0&*)2")*&*)'-+)
207")0'6)0'*)+20+)2")20*)"'+"%"*)#04/$,)
0+) PQRS) 0:4:) 5".-%") 0'6) ,"#$%&+6) ($0%*,)
9"%")+2"%":)T2"'=)+2"),"#$%&+6)($0%*)+--F)
+2")F&*)-$+)-.)+2")2-$,")-.J#")+-)(-)+-)+2")
40&')-.J#":O
T2")0*4&'&,+%0+&-')90,)$'070&8058")
.-%)#-44"'+)-')+2")088"("*=),"#-'*)+%",1
/0,,&'(:
304-) ,+$*"'+,) 0'*) ,+0..) 0%") #-'1
#"%'"*)05-$+)920+)+2","),"#$%&+6)5%"0#2",)
,06)05-$+)2-9),0.")+2")#04/$,)0#+$0886)&,:
LT2&,)6"0%)20,)5""')0)F&'*)-.)90F"1
$/)#088=O),-/2-4-%")>,05"8)U-88,),0&*:)
L>+)&,)'-9)#8"0%)+20+)9")0%")'-+)#-4/8"+"86)
,0."=)0'*)+20+)0'6-'")#0')("+)-')#04/$,)&.)
+2"6)%"0886)+%6:)>)04),#0%"*)0+)+2")+2-$(2+)
+20+),-4"-'")*0'("%-$,)#-$8*),-)"0,&86)
58"'*)&'+-)+2")304-)"'7&%-'4"'+:O
3-/2-4-%") D"8&G) V-%0') 5"8&"7",)
+20+)+2")&'#&*"'+,),2-9)+20+),#2--8),"#$1
%&+6)#0')-'86)40&'+0&')0)#"%+0&')04-$'+)-.)
,#2--8),0."+6:
L>)+2&'F),#2--8),"#$%&+6)-.J#"%,)0%")
4-,+86) 2"%") +-) &'+&4&*0+") /"-/8") 0906)
.%-4) #%&4",) 0'*) /-8) 7&-80+&-',=O)
V-%0'),0&*:)LT2"&%)W-5)&,)+-)(&7")+2")0/1
/"0%0'#")+20+)+2"),#2--8)#0''-+)5")"'*0'1
("%"*=)5$+)>)*-)'-+)+2&'F)+2"%")&,)0'6906)+-)
#-4/8"+"86)07"%+)*0'("%:O
T2")0//0%"'+)05&8&+&",)-.)+%",/0,,"%,)
+-)("+)-'+-)#04/$,)5".-%")&+)&,),"#$%"=)0'*)
+-)*&,($&,") +2"4,"87",)0,),+$*"'+,=)207")
%0&,"*)#-'#"%')05-$+)+2")0#+$08)/-+"'#6)-.)
+2")304-)&*"'+&J#0+&-')B>AC)#0%*),6,+"4=)
92)%"X$&%",)+20+),+$*"'+,),2-9)+2"&%)>A)
#0%*,)5".-%")"'+"%&'()#04/$,)(0+",:
LT2")>A)#0%*,)0%")%"0886)"0,6)+-)%"#1
%"0+")0'*)+04/"%)9&+2=)0'*)&')46)"G/"%&1
"'#"),"#$%&+6)($0%*,)*-)'-+)8--F)0+)+2"4)
+20+) #8-,"86=O) W$'&-%)?0+&8*0)?"0*) ,0&*:)
L>)#-$8*)$,")0).%&"'*I,)>A)&',+"0*)-.)4&'")
0'*),+&88)07-&*)("++&'()*"+0&'"*=)-%),2-9)
$/)"0%86:O
>')U-88,I,) "G/"%&"'#"=) "7"') &.) 0)
,+$*"'+)*-",)'-+)207")2&,)-%)2"%)>A)#0%*)
9&+2)2&4)-%)2"%=)2")-%),2")#0'),+&88)("+)-')
#04/$,)56)%"#&+&'()2&,)-%)2"%)>A)'$45"%=)
92),2"),0&*)#0')"0,&86)5")40*")$/:
Y##-%*&'() +-) V1V-$,") /%&'#&/08)
Z",8&")N"88,=) +2")>A)#0%*),6,+"4),+0%+"*)
92"') +2") ,#2--8) 90,) (-&'() +2%-$(2) 0)
,&4&80%)/"%&-*)-.)+$%4-&8:
LN")9"%")2"0%&'()+20+),+$*"'+,).%-4)
-+2"%),#2--8,)9"%")+%6&'()+-)("+)-')#041
/$,=),-)9"),+0%+"*)#2"#F&'()>A,=O)N"88,)
,0&*:)LT2")#0%*,)*&,#-$%0(")-+2"%,).%-4)
+%6&'()+-)("+)-')#04/$,=)0'*)%"&'.-%#")+2")
&*"0)+20+)9")0%")+%6&'()+-)F""/)-$%)#04/$,)
,0."%:O
[$'&-%)<-88&')K'65"8) 5"8&"7",) +20+)
+2")>A)#0%*),6,+"4)9-$8*)5")*&.J#$8+)+-)
&4/%-7":
L>) +2&'F)+2"),6,+"4)+2"%")0%")906,)
56)92) +2") >A) #0%*) ,6,+"4) #-$8*) 5")
&4/%-7"*) =) 5$+) &+) &,) 08,-) 0) /%-58"4) -.)
".J#&"'#6=O) K'65"8) ,0&*:) LN&+2) ,$#2) 0)
4&'&408)04-$'+)-.),+0..=)0'*),$#2)0)80%(")
04-$'+)-.),+$*"'+,=)+2")/%-#",,)&,)20%*)+-)
#-4/8"+"86)"'.-%#")9&+2-$+)#-4/%-4&,1
&'() +2") ,/""*) -.) ,+$*"'+,) "'+"%&'() 0'*)
8"07&'() #04/$,) -%) 2&%&'() '"9) "4/8-61
"",:O
N"88,)0(%"",)+20+)/%-/-,"*)4"+2-*,)
.-%)&4/%-7"4"'+=),$#2)0,)$,&'()+"#2'-81
-(6=)0%")'-+)7"%6)%"08&,+&#:
LN&+2) -$%) #$%%"'+) /26,) 806-$+)
0'*)%",-$%#",=)+2"%")&,'I+)4$#2)5"++"%)+20+)
9")#0')*-=O)N"88,),0&*:
Y##-%*&'() +-) A"0') -.) 3+$*"'+,)
<0+2"%&'")\0G+"%=)+2"),"%&",)-.)9-%%&,-4")
"7"'+,) 0%-$'*) 304-) &,) 08,-) '-+) '"#",1
,0%&86)0),&(')+20+)+2")>A),6,+"4)'""*,)+-)
#20'(":
L]$%)#$8+$%")'0+$%0886)(-",)+2%-$(2)
#6#8",)92"%"),-4")6"0%,)0%")#20-+&#=)0'*)
,-4") 0%") X$&"+) 0'*) #084=O)\0G+"%) ,0&*:)
L>)+2&'F)+20+)-$%),#2--8)9&88)%"+$%')+-)+2")
#084:O
! !!"#$%&
!"#$%&$'()*+(),-)
! !!!"#$%!&
T%",/0,,&'()&'#&*"'+,)%0&,")#-'#"%',)05-$+)".J#&"'#6)-.),"#$%&+6'()*+,-.#/!"#$$%&'(")' 012314*%#5,6789*:,(6;%*(6#*#-</=9#;*7>*
8?#*@/#-#>8(69*(>;*A#5=>;(69*A5?==/*7>;,%869*7>*8?#*BCAC
D042E14*7%*8?#*(F#6(:#*%(/(69*G=6*(*%#H5,6789*:,(6;*7>*8?#*BCAC
I1*%#5,6789*:,(6;%*(6#*#-</=9#;*.9*8?#*A(>8(*'=>75(H'(/7.,*B>7J#;*A5?==/*K7%86758
DILCM1*7%*8?#*(F#6(:#*?=,6/9*%(/(69*G=6*(*%#5,6789*:,(6;*#-</=9#;*.9*A''BAK
N3O*=G*%5?==/%*7>*
8?#*BCAC*6#H
P,76#*(//*F7%7H
8=6%*8=*%7:>*
=6*5?#5Q*7>*
,<=>*(667F(/
3MO*=G*%5?==/%*7>*8?#*BCAC*/=5Q*=6*-=>78=6*8?#76*#>H86(>5#%*;,6H7>:*%5?==/*
?=,6%
IO*=G*%5?==/%*7>*8?#*BCAC*?(F#*-#8(/*;#8#58=6%*8?(8*%8,;#>8%*?(F#*8=*<(%%*
8?6=,:?*;(7/9
LO*=G*%5?==/%*
7>*8?#*BCAC*
6#P,76#*
%8,;#>8%*8=*
$#(6*.(;:#%*
=6*<?=8=*RK%
*+,*-)./"0)1#*20(342*
5(6$2'*#"(26%$'2*%73!3%8)9"3%2$%:;,4#"(26<%=6;(4#"2'1%2$%!4022.%>'(*)%#6;%!#$)"?%@AAB<%!402.#1"(4%=643<%
C(6;"0)8#"#%#6;%!DD7!8%E,*#6%F)12,'4)1%!9)4(#.(1"%>#'*)6%G#'(21
U"G+) 6"0%=) 304-) 0*4&'&,+%0+-%,)
2-/") +-) -.."%)Y*70'#"*) @80#"4"'+) ;$1
%-/"0') V&,+-%6) BY@) ;$%-C) +-) &'#-4&'()
,-/2-4-%",:)T2") #-$%,"=)92) 20,) '-+)
5""')-.."%"*)0+)304-)5".-%"=)9&88)5"#-4")
0')08+"%'0+&7")+-)N-%8*)V&,+-%6:
Y##-%*&'() +-) >1V-$,") @%&'#&/08)
!"'M")3"4&F=)&')-%*"%).-%)304-)+-)-.."%)
+2")#80,,=) +2")-$+8&'")9&88)207")+-)5")0/1
/%-7"*)56)+2"),#2--8)5-0%*:)T2")#80,,)-$+1
8&'")9&88)+2"')5"),$54&++"*)0'*)0##"/+"*)
+2%-$(2)+2")^<)0//%-708),6,+"4)0'*)<-81
8"(")\-0%*:
3"4&F) ,06,) +20+) +2") #-$%,") 9&88)
207") 088) +2") ,04") %"X$&%"4"'+,) 0,) -+2"%)
Y@)#-$%,",)-.."%"*)0+)304-=)0'*)9&88)5")
+2")J%,+)Y@)#80,,)070&8058")+-),-/2-4-%",)
9&+2-$+) 0'6) /%"1%"X$&,&+",:) 3"4&F) 2-/",)
+20+) +2") #80,,) 9&88) 2"8/) /%"/0%") ,-/2-1
4-%",).-%).$+$%")Y@)#-$%,",:
L>I4)2-/".$8)+20+),+$*"'+,)9&88)8"0%')
,F&88,=)#-'+"'+)0'*)"0%')#-88"(")#%"*&+).%-4)
0)/0,,&'(),#-%")-')+2")"G04=O)3"4&F),0&*:)
L>)08,-)2-/")+20+)&+)9&88)088"7&0+")+2")/$,2)
.-%)W$'&-%,)+-)+0F").-$%)+-)J7")Y@)#80,,",:O
?1V-$,") 0*7&,"%) [$*&+2) V&'-W-,01
!&$,"#2),06,)+20+)+2")#-$%,")9-$8*)5"'"J+)
,-/2-4-%",) 56) (&7&'() +2"4)Y@) "G/"%&1
"'#")5".-%")+2"&%)W$'&-%)6"0%:
L>+) 9-$8*) 5") 5"'"J#&08) .-%) ,-/2-1
4-%",)+-)F'-9)920+)&+I,)8&F")+-)+0F")0')Y@:)
T2")%&(-%)&,)4$#2)*&.."%"'+)+20')0')2-'1
-%,) #80,,=O)V&'-W-,01!&$,"#2) ,0&*:) LT2&,)
#-$%,")9-$8*)%"0886)088-9).-%),-/2-4-%",)
+-) +0F")0')Y@) &')0)906)92"%") +2"6)#0')
207")+2"),$//-%+)+20+)+2"6)'""*)+-)5"),$#1
#",,.$8)&')+2")#80,,:)V07&'()W$,+)-'")Y@)&,)
40'0("058")0'*)6-$)#0')%"0886)9-%F)9&+2)
+2")+"0#2"%)0'*)J($%")-$+)+2"),F&88,)+20+)0%")
'"#",,0%61)0'65-*6)#0')5"),$##",,.$8) &')
+20+)F&'*)-.)#80,,:O
31V-$,")@%&'#&/08)[0,-')K$%+"'50#2)
,06,)+20+)4-%")Y@,)9&88)2"8/)-$%),+$*"'+,)
0'*)+2"),#2--8)0,)0)92-8":
LY)4-%") *&7"%,")Y@) #-$%,") ,"8"#1
+&-')406)4"0')4-%"),+$*"'+,)0++"4/+&'()
0'*),$##""*&'()&')Y@)92)406)8"0*)+-)
(%"0+"%) 0#0*"4&#) ,$##",,) &') +2") .$+$%"=O)
K$%+"'50#2),0&*:
3-#&08) ,+$*&",) +"0#2"%) !-5"%+) Y81
70%0*-=)92-)9&88)+"0#2)+2")#80,,)&.)&+)&,)0/1
/%-7"*=)&,)"G#&+"*)05-$+)+2")/-,,&5&8&+6)-.)
+2")'"9)#80,,:
LT2&,) #80,,) _#-$8* )̀ 5") ,-4"+2&'()
'"9) 0'*) &'+"%",+&'(=O)Y870%0*-) ,0&*:) L>)
+2&'F) &+) 9&88) 5") #2088"'(&'() .-%) ,-/2-1
4-%",=) 5$+) &.) +2"6I%") 4-+&70+"*) +2"') &+)
,2-$8*'I+)5")+--)*&.J#$8+:O
Y*4&')0*7-#0+")+-)-.."%)Y@);$%-/"0')V&,+-%6'7(*S=<#THU,.767!"#$$%&'(")'
*.29)HH,-('(/"0)1#*20(342*
Y.+"%) 304-I,) 0''$08) 0$*&+=) +2")
,#2--8)90,) .-%#"*) +-) %"+2&'F) +2")906)
#8$5,).$'*%0&,":)U-9=)+2"6)9&88)'-+)5")
058")+-).$'*%0&,")+2")906)+2"6)207")&')
/%"7&-$,)6"0%,)5"#0$,")+2")906)+2")Y,1
,-#&0+"*)3+$*"'+)\-*6)BY3\C)20,)5""')
20'*8&'() 4-'"6) .%-4) #8$5) .$'*%0&,1
"%,) &,) &'#-',&,+"'+) 9&+2) 809,) (-7"%'1
&'()2-9).$'*%0&,&'()4-'"6),2-$8*)5")
20'*8"*=) 0##-%*&'() +-)Y3\) D&'0'#&08)
Y,,&,+0'+)["''6)U&#-80,:
LN") #0') '-) 8-'("%) 40F") *-'01
+&-',) +-) -%(0'&H0+&-',) +2%-$(2)Y3\=O)
U&#-80,),0&*:)LT2&,)90,)08%"0*6)0)809=)
0'*) '-9) +2"6I%") "'.-%#&'() &+:)\".-%"=)
&.) 0) #8$5) 90,) .$'*%0&,&'() .-%) ,06) +2")
V0&+&)"0%+2X$0F"=)+2"6)9-$8*).$'*%0&,")
0'*)Y3\)9-$8*)40F")-$+) 0) #2"#F) +-)
+2")!"*)<%-,,)9&+2)+2-,").$'*,:)U-9=)
,+$*"'+)4-'"6)'""*,)+-)5")$,"*).-%),+$1
*"'+,=)"7"')&.),+$*"'+,)207")*-'0+"*)&+)
,/"#&J#0886)+-)#20%&+6:O
Y##-%*&'()+-)U&#-80,=)+2")%",+%
+&-',) -.) #8$5) .$'*%0&,&'() 9&88) 207") 0)
40W-%)".."#+)-')+2")906)#8$5,)0%")%$')
0'*)+2"&%)/$%/-,")0+)304-:
L>) +2&'F) +20+) +2") 809) 9&88) 4"0')
+20+)#8$5,)9&88)'-+)5")058")+-).$'*%0&,"=O)
U&#-80,),0&*:)LT2"6)9&88)207")+-).-#$,)
4-%") -') %0&,&'() 090%"'",,) .-%) +2"&%)
#0$,",) 0'*) 8",,) -') ("++&'() *-'0+&-',:)
D-%) &',+0'#"=) +2")!"*)<%-,,) #8$5)9&88)
207") +-) "'#-$%0(") ,+$*"'+,) +-) 40F")
&'*&7&*$08)*-'0+&-',)&',+"0*)-.)207&'()
.$'*%0&,"%,:O
Y##-%*&'() +-)U&#-80,=) +2"%")9&88)
'-9)5")8&4&+"*)906,).-%)#8$5,)+-),$#1
#",,.$886)0'*)*&%"#+86)*-'0+").$'*,)+20+)
+2"6)%0&,")+-)0)#20%&+6:
LY3\)#0')'-)8-'("%)5")+2")4&**8")
/"%,-') &') .$'*%0&,&'(=O) U&#-80,) ,0&*:)
L>.)0)#8$5)90'+,)+-)207")0).$'*%0&,"%).-%)
#20%&+6=)'-9)+2"6)207")+-)5%&'()/"-/8")
.%-4)+2")#20%&+6)-')#04/$,),-)+20+),+$1
*"'+,)#0')40F")0)*&%"#+)*-'0+&-')0'*)&+)
*-",'I+)/0,,)+2%-$(2)Y3\:O
V-9"7"%=) 0##-%*&'() +-) 304-)
Y#+&7&+&",) A&%"#+-%) a"%b'�) c0%#&01
V"#2+=)+2")'"9).$'*%0&,&'(),6,+"4)9&88)
'-+)'"#",,0%&86)207")0)'"(0+&7")&4/0#+)
-') ,+$*"'+,) 0'*) #-$8*) "7"') 2"8/) ,+$1
*"'+,)0'*)+2"&%)#8$5,:
L>)+2&'F)&+)9&88)2"8/)+-)/$+)0).0#")
-') +2") #0$,") +2"6I%") .$'*%0&,&'() .-%=O)
c0%#&01V"#2+),0&*:)L>.)+2"6)207")0)%"/1
%","'+0+&7") .%-4) +2") -%(0'&H0+&-') _-')
#04/$,`=) &+)2"8/,),+$*"'+,),"")*&%"#+86)
92-)+2"6)0%")2"8/&'()0'*)#%"0+",)4-%")
2-'",+6)0'*)-/"''",,)05-$+)92"%")+2")
4-'"6) &,) (-&'(:) >+)4&(2+)40F") .$'*1
%0&,&'() 4-%") #2088"'(&'(=) 5$+) &+) 9&88)
F""/)"7"%6-'")2-'",+:O
Y3\) T%"0,$%"%) 0'*) ,"'&-%) Y'1
*%"9)<0/%-')0(%"",)+20+)+2")'"9).$'*1
%0&,&'(),6,+"4)9&88)5")5"'"J#&08=)"7"')
&.)&+)#%"0+",)4-%")*&.J#$8+6).-%).$'*%0&,1
&'(:
LT2")#8$5)4$,+)40F")&+)7"%6)#8"0%)
+20+)0'6)/%-J+,)-%)*-'0+&-',) .%-4) +2")
"7"'+)9&88)(-)*&%"#+86)+-)+2")-$+,&*")-%1
(0'&H0+&-'=O)<0/%-'),0&*:)L>)+2&'F)+20+)
&+)40F",),"',"=),&'#")&+)&,)4&,8"0*&'()+-)
207")0')dY3\).$'*%0&,"%=I).-%)"G04/8"=)
0'*)+2"')W$,+)*"#&*")+-)*-'0+")088)/%-J+,)
+-)0)*&.."%"'+)-%(0'&H0+&-')+20+)90,)'-+)
/$58&#&H"*)5".-%"20'*:O
<8$5,)4$,+)#20'(").$'*%0&,&'()4"+2-*,)+-)05&*")56)809V=>#%*W78%Q#6!"#$$%&'(")'
I9("1J)'/"0)1#*20(342*
!"#$%&'()*+', !"#$%&
!!!!"#$%&'%(!)*+!),-)
!"#$"%&'(")%*(+,#$-(!#./(0&'1
2%*)( ",#3),$*( 4%22( %.52,.,&"( %&1
32#**-(+,#$1,&6(,**#+*("/(,7#28#",((
"),( 5$/'$,**( /9( #22( *"86,&"*( 9$/.(
"),%$(9%$*"(%&132#**(:#*,2%&,(,**#+;
<=)%*( %*( */.,")%&'( &,4( %&(
/8$( 6,5#$".,&"( 4,>$,( "$+%&'( ")%*(
+,#$-?( 0&'2%*)( ",#3),$( @)/&( A,,(
*#%6;( <07,$+( +,#$-( 4,>7,( )#6( #(
:,'%&&%&'(/9("),(+,#$(#**,**.,&"-(
*/( ")%*( %*( '/%&'( "/( :,( /8$( ',&81
%&,( ,&6( /9( "),( +,#$( #**,**.,&";(
B"( C4%22D( *)/4( 8*( 4)#"( *E%22*(
*"86,&"*( )#7,( )/5,9822+( '#%&,6(
")$/8')/8"("),(+,#$;?
F"( "),( :,'%&&%&'( /9( ,7,$+(
+,#$-( #22( *"86,&"*( #$,( '%7,&( #(
"%.,6-( %&132#**( <:#*,2%&,?( ,*1
*#+( "/( #22/4( ",#3),$*( "/( 9/$.81
2#",( 2,**/&( 52#&*( :#*,6( /&( "),(
*"86,&"*( #$,#*( /9( &,,6;( =,#3),$*(
)/5,(")#"(")%*(&,4(<://E,&6?(,*1
*#+(4%22(3/&9%$.("),(,99,3"%7,&,**(
/9(7#$%/8*(",#3)%&'(*"$#",'%,*;
<G,(9,2"(2%E,("),(:#*,2%&,(,*1
*#+(#24#+*('#7,(8*(#(5$,""+('//6(
%6,#( /9( 4),$,( "/( '/-( :8"( "),&(
"),$,(4#*( &/")%&'( "/( *#+( ")#"(4,(
)#6(#3"8#22+('/&,(4),$,(4,(&,,61
,6("/('/-(&/")%&'("/(*)/4(")#"(4,(
)#6( #3"8#22+( #33/.52%*),6( #*( #(
6,5#$".,&"( 4)#"( 4,( &,,6,6-( ,*1
5,3%#22+( 9/$( 4$%"%&'-?( *"#&61%&(
0&'2%*)( 6,5#$".,&"( 3)#%$( H#$%#(
!",7,&*(*#%6;
=)%*(&,4(://E,&6(,**#+(4#*(
%&*5%$,6(%&(5#$"(:+(I$%&3%5#2(A#81
$,2( J$,"K-( 4)/( )#*( *"$,**,6( "),(
%.5/$"#&3,(/9(6#"#(3/22,3"%/&(")%*(
+,#$;
<L8$(&,4(I$%&3%5#2(H*;(J$,"K(
,.5)#*%K,6( *,7,$#2( ")%&'*( ")%*(
+,#$( 9/$( ",#3),$*-( .#%&2+( :#*,6(
/&( 38$$%3828.( #&6( %.5$/7%&'(
*"86,&"( 5$/'$,**-?( !",7,&*( *#%6;(
<L&,( /9( "),( ")%&'*( 4#*( 3$,#"%&'(
38$$%3828.( %&9/$.,6( 9$/.( 6#"#(
#:/8"( /8$( ",#3)%&'( #&6( 4)#"( "),(
&8.:,$*(*#+;((G%")(")%*(&,4(58*)(
/&( 6#"#-(4,(4,$,( %&*5%$,6( "/( #*E(
9/$(#&/"),$(,**#+-(/&,(")#"(4/826(
:,(#(M://E,&6>("/("),(M:#*,2%&,;>?
=,#3),$*( )/5,( ")#"( "),( 6#"#(
3/22,3",6(4%22(),25("),.(%&(6,7,21
/5%&'( "),%$( ",#3)%&'(*"$#",'%,*( %&(
3/.%&'(+,#$*;
<G,(.%')"( :,( #:2,( "/( "4,#E(
#(3/852,( ")%&'*( 9/$(/8$( 9%-(:8"(
:,3#8*,( %">*( %&( H#+-( %"( 6/,*&>"(
'%7,( 8*( "//( .83)( "%.,( "/( $,1
",#3)-?( A,,( *#%6;( <N/4,7,$-( 4,(
3#&(8*,("),(9,,6:#3E(4,(',"(%&("),(
9/22/4%&'(+,#$;?
F33/$6%&'( "/( !",7,&*-( ")%*(
://E,&6( ,**#+(4%22( :,( *%.%2#$( %&(
9/$.#"( "/( "),( :#*,2%&,( "#E,&( :+(
*"86,&"*( #"( "),( :,'%&&%&'( /9( "),(
+,#$;
<G,>$,( 6/%&'( C"),( ,**#+D(
%&( H#+( #&6( %">22( :,( O8*"( 2%E,( "),(
:#*,2%&,-?( !",7,&*( *#%6;( <P/8>22(
)#7,( "),( 6#+( "/( 6/( %"-( #&6( #( 2/"(
/9( ",#3),$*( #2$,#6+( )#7,( .#",$%1
#2*( 4),$,( "),+( 3#&( #3"8#22+( *"#$"(
5$,5#$%&'(+/8(9/$(%";?
N/4,7,$-("),(5$/.5"(4%22(&/"(
:,(:#*,6(/&(#(://E(2%E,("),(:#*,1
-./'01(2&3
!"#$$%&'(")'
#*+,-",).#/0,(120/
0&'2%*)(6,5#$".,&"(://E,&6*("),(*3)//2(+,#$
"3#'*(4035.*
!"#$$%&'(")'
2%&,(,**#+;
<B( 3#&>"( ,Q#3"2+( 3/..%"( "/(
4)#"( E%&6( /9( 5$/.5"( %"( 4%22( :,(
+,"-( :8"( %"( 4/&>"( :,( :#*,6( /&( #(
://E-?(!",7,&*(*#%6;
R2"%.#",2+-( "),( 58$5/*,( /9(
"),( ,**#+( %*( "/( #**%*"( "),( 0&'2%*)(
6,5#$".,&"( %&( ,&*8$%&'( ")#"( #22(
*"86,&"*( 2,#7%&'( !#./( #$,( 3/.1
52,",2+(3/22,',($,#6+;
<C=),( ,**#+D( 4%22( :,( 9#*)1
%/&,6( #9",$( #&( SS")( '$#6,( ,Q#.(
C*"86,&"*D( )#7,( "/( "#E,( 9/$( @#2(
!"#",*(:,3#8*,(/&,(/9(/8$(:%'',*"(
5$%/$%"%,*( 9/$( "),( 0&'2%*)( 6,5#$"1
.,&"(%*("/(.#E,(*8$,(/8$(E%6*(#$,(
3/22,',($,#6+-?(!",7,&*(*#%6;
B&( "),(6#+*( 9/22/4%&'( "),( 9%$,(
%&( "),( !/8")(T+.-( "),( +/'#( $//.(
4#*( 6,,.,6( 8&8*#:2,( :+( !#./(
#6.%&%*"$#"%/&-( #&6( 32#**,*( 4,$,(
9/$3,6( "/( $,2/3#",( "/( "),( 3#9,",$%#(
8&"%2(J,:;(SU(4),&( "),(+/'#( $//.(
4#*($,/5,&,6;
@2#**(.,"(6,*5%",("),(2#3E(/9(#(
$//.-(4)%3)(9/$3,6(+/'#(%&*"$83"/$(
V#*/&(W#""8&'( "/( %.5$/7%*,( 2,**/&(
52#&*;
<X#"8$#22+-( 4,( 6/&>"( )#7,( #(
2/3E,$( $//.( "/( 3)#&',( 32/"),*-?(
W#""8&'( *#%6;( <G,( 4,$,( :#$$,6(
9$/.( "),( +/'#( $//.-( #&6( )#7%&'(
")#"(*,#2,6(*5#3,(%*(&%3,(9/$(5,/52,(
"/(5$#3"%3,(%&;?
N/4,7,$( "),( %&3/&7,&%,&3,*(
4,$,( &/"( 3$%552%&'-( #&6( W#""8&'(
*#4("),.(#*(#&(/55/$"8&%"+;
<F*(+/'%*(#&6(+/'%&%*-(4,(#$,(
4/$E%&'( /&( :,%&'( ./$,( 92,Q%:2,-?(
),( *#%6;( <G,( 3$,#",( *5#3,( #&6( #61
O8*"( %&( /8$( :/6%,*-( */( 4),&( 2%9,(
6,#2*(8*(8&,Q5,3",6(3%$38.*"#&3,*(
*83)( #*( #( 9%$,-( 4,( 3#&( #552+( "),(
92,Q%:%2%"+("/(/8$($,#2%"+;?
P/'#(32#**,*(',"(#(:$,#")(/9(9$,*)(#%$W#""8&'( *)/4,6( %&*"$83"%/(
7%6,/*(/&(+/'#-(#&6(#2*/(%228*"$#",6(
6%99,$,&"(+/'#(5/*%"%/&*(/&(#(4)%",(
:/#$6(9/$(*"86,&"*("/(2,#$&;
B9( 4,#"),$( 5,$.%"",6-( W#"1
"8&'( 4/826( 2,#6( "),( 32#**( /8"*%6,(
9/$( 4#2E%&'( .,6%"#"%/&-( /$( <@)%(
T/&';?
<G,()#6(")%*(3#$5,"(/9(&#"8$#2(
'$#**-( #&6( B( ,&3/8$#',6( "),( *"81
6,&"*("/("#E,("),%$(*)/,*(/99-?(W#"1
"8&'(*#%6;
!/5)/./$,( J$#&3/( !#&3),K-(
)/4,7,$-(4#*(,#',$("/($,"8$&("/("),(
+/'#($//.;
<CW#""8&'D( *#%6( *,3/&6( *,1
.,*",$(4/826( :,( #22( #:/8"( %&",&*,(
+/'#-?( !#&3),K( *#%6;( <N/5,9822+(
4,(3#&(',"(%&"/(")#"(*//&;?
X/4( ")#"( "),( 32#**( )#*( $,1
"8$&,6( "/( "),( +/'#( $//.-( *"86,&"*(
*#+(")#"(&/$.#2%"+()#*($,"8$&,6;
<W,9/$,-( %"( 4#*( 7,$+( :/$%&'(
"/( 6/( 4#2E%&'( .,6%"#"%/&-?( O8&%/$(
+/'#(*"86,&"(Y#3(0*5%&/K#1!3)#,1
9,$(*#%6;(<X/4(4,(3#&(6/(/8$(+/'#-(
#&6(',"(")#"(+/'#()%');?
230,'4)-",).#/0,(120/
(@NF!0(GLNZA0([(!"#$%&'(")
!"#"$%&'(P/'#(32#**,*(2%&,(85(/8"*%6,(9/$(@)%(T/&'-(/$(<4#2E%&'(.,6%"#"%/&-?(#9",$(:,%&'(./7,6(/8"(
/9("),(+/'#($//.(:,3#8*,(/9("),(V#&;(\S(]$,(%&("),(!/8")(T+.;(
6/.#57(8&9/1
!"#$$%&'(")'
,5+6(7-",).#/0,(120/
F33/$6%&'("/(^%*"$%:8"%7,(0683#1
"%/&(@28:*(/9(F.,$%3#(_^0@F`(F67%1
*/$(H#$%#.(!)#],+-(/&(V#&;(ab(#&6(ac(
"),(^0@F( ",#.(3/.5,",6( %&( "),(6%*1
"$%3"( 2,7,2( 3/.5,"%"%/&( %&( "),(:8*%&,**(
#&6(.#$E,"%&'(3#",'/$%,*;(=),(*"86,&"*(
3/.5,",6( %&( #( ',&,$#2( 3/.5,"%"%/&( %&(
L3"/:,$-(#&6(./7,6(/&("/("),(&,Q"(*",5-(
4)%3)(4#*( "),( 6%*"$%3"( 2,7,2;( W,3#8*,(
"),(*"86,&"*(6%6(*/(4,22(#"( "),(6%*"$%3"(
2,7,2-( "),+( 4%22( ./7,( /&( "/( "),( *"#",(
2,7,2(3/.5,"%"%/&(9$/.(J,:;(a\1ad;
<G,>7,(6/&,(,*5,3%#22+(4,22(")%*(
+,#$-(:8"("/(:,()/&,*"-(,7,$+(+,#$(4,(6/(
$,#22+(4,22(:,3#8*,(:8*%&,**(%*(*83)(#&(
%&",$,*"%&'(#$,#(/9(*"86+-?(!)#],+(*#%6;(
<L&3,( *"86,&"*( 6/( "),( 3/.5,"%"%/&*-(
"),+(4#&"("/(3/&"%&8,("/(:,(%&7/27,6;?
B&( "),( 3/.5,"%"%/&*-( *"86,&"*(
3/.5,",(:+("#E%&'(#(",*"(#&6(3/&683"1
%&'($/2,152#+(%&(#(:8*%&,**(*,""%&';(e%#/(
Y)/8-( H%E,( f,&"-( I#2/.#( g8,7,6/-(
V#.%2#( N#O%( #&6( A%K,"",( H,&6,K( $,1
3%,7,6(]$*"(52#3,-(^#&%,2#(H#$"%&-(A%1
K,"",(H,&6,K(#&6(^#&&+(=)/.#*(#&6(
Y#3(!3)#9,$($,3%,7,6(*,3/&6(52#3,(#&6(
V#.%2#(N#O%(#&6(X%3/2,(P#28&'($,3%,7,6(
")%$6(52#3,(7#$%/8*(3/.5,"%"%/&*;(B9("),(
*"86,&"*(3/&"%&8,("/(")$%7,(%&("),(*"#",(
3/.5,"%"%/&-("),+(4%22(./7,(/&("/(
"%/*-( #&6( "),&( "/( %&",$&#"%/*;(X/(
!#./(*"86,&"()#*(,7,$(.#6,(%"("/(%&",$1
&#"%/*;
<F"("),($#",(")#"(4,>$,('/%&'(B(#31
"8#22+(")%&E(4,>22()#7,("),(/55/$"8&%"+(
"/()#7,(#(3/852,(/9(*"86,&"*('/("/(%&",$1
&#"%/*(:,3#8*,(4,(6%6(*/(4,22(%&(6%*1
"$%3"-?(^0@F(I$,*%6,&"(/9(H,.:,$*)%5(
X/,2(I$#*#6(*#%6;
F33/$6%&'( "/( I$#*#6-( "),( .,.1
:,$*)%5( )#*( 6$#.#"%3#22+( %&3$,#*,6(
")%*(+,#$("/(#2./*"(Sch(*"86,&"*;(H#&+(
/9( "),( E%6*( 4,$,( #2$,#6+( ,&$/22,6( %&(
"),( Z,'%/( L3385#"%/( I$/'$#.(
_ZLI`(W8*%&,**( #&6(H#$E,"%&'( 32#**-(
#&6( 9$/.( "),$,( "),+(4,$,( ,&3/8$#',6(
"/(O/%&(^0@F;
<=)%*(+,#$("),(",#.(%*(6/%&'(#(2/"(
:,"",$(*%&3,(4,>7,(%&3$,#*,6(&8.:,$*;(
G,(&/4()#7,(./$,(5,/52,(4)/(4%22('/(
/8"(#&6(*"86+(#&6(#3"8#22+()#7,(6,",$1
.%&#"%/&("/(4%&-?(I$#*#6(*#%6;
F33/$6%&'( "/( ^0@F( 5$,*%6,&"(
V#.%2#(N#O%-(%"(%*(%.5/$"#&"(")#"(*"86,&"*(
#3"8#22+(*"86+(9/$("),(3/.5,"%"%/&*(:,1
3#8*,( *833,**( %*( 2#$',2+( :#*,6( /&( "),(
",*"*;(N#O%(*#%6(")#"(#2")/8')(%"(%*(#(2/"(/9(
*"86+%&'-(%"(%*(#2*/(#(2/"(/9(98&;(!"86,&"*(
3#&(3)//*,(*8:O,3"*("/(3/.5,",(%&(")#"(
"),+(#$,(5,$*/+(%&",$,*",6(%&-(4)%3)(
$#&',( 9$/.( *5/$"*( #&6( ,&",$"#%&.,&"(
.#$E,"%&'("/(]&#&3,;
<B">*(&/"(")#"()#$6-(:8"(%"("$#%&*(+/8(
9/$("),(98"8$,;(P/8($,#22+(2,#$&()/4("/(
',"(/8"("),$,-?(N#O%(*#%6;
F33/$6%&'("/(N#O%-(^0@F(%*(",3)1
&%3#22+( /&,( /9( !#./>*( 328:*-( :8"( "),(
.,.:,$*( /9( ^0@F( 4/826( 32#**%9+( %"(
#*(./$,(/9(#&(/$'#&%K#"%/&(")#&(#(328:;(
F33/$6%&'( "/(N#O%-( ^0@F( 6/&#",*( "/(
"),( H#E,1#1G%*)( J/8&6#"%/&( ,#3)(
+,#$;
<G,( '%7,( :#3E( "/( H#E,1#1G%*)(
J/8&6#"%/&( :,3#8*,( 4,( 4#&"( "/( ),25(
5,/52,(4)/($,#22+(&,,6(%"(./$,(")#&(4,(
6/-?(N#O%(*#%6;
N#O%( *#%6( "),( *"86,&"*( %&( ^0@F(
B">*("),(:8*%&,**i(^0@F(",#.(3/&"%&8,*("/(,Q3,2
)*$+!&$$(,-"$$'(!#./(^0@F(*"86,&"*(3,2,:$#",("),%$(*833,**(#"(#(6%*"$%3"(:8*%&,**(3/.5,"%"%/&(/&(
V#&;(ab(#&6(ac;(
VFHBAF(NFVB([(*(+,-)./,(-
2,#7,()%')(*3)//2(4%")(E&/42,6',(")#"(
.#&+(5,/52,(6/&>"('#%&(8&"%2("),+(:,1
'%&("),%$(4/$E%&'(3#$,,$*;(G),$,(./*"(
*"86,&"*(4%22('/(/99( "/(3/22,',(/$( %&"/(
"),(4/$E(],26(4%")(2%""2,(3#$,,$(,Q5,$%1
,&3,(/$(E&/42,6',(/9("),%$(6,*%$,6(],26(
/9( :8*%&,**-( "),( ^0@F( *"86,&"*( 4%22(
#2$,#6+(:,(4,22(7,$*,6(%&("),%$(*8:O,3"(
/9(%&",$,*";
<P/8( 2,#$&( ")%&'*( ")#"( H#$E(
Y83E,$:,$'-(9/$(,Q#.52,-(6%6&>"(E&/4(
8&"%2( ),( )#6( #2$,#6+( *"#$",6( )%*( 3/.1
5#&+-?(N#O%(*#%6;
=),( .,.:,$*( /9( ^0@F( '#%&(
E&/42,6',( #:/8"( 5/**%:2,( 3#$,,$( /51
"%/&*(9/$("),(98"8$,-(#&6(8*,(%"("/(:,&,]"(
"),.*,27,*(#&6("),%$(3/..8&%"+;
<^0@F(6/,*&>"( O8*"( ),25( +/8( %&(
:8*%&,**-( :8"( %"( ),25*( +/8( *833,,6( #*(
#&( %&6%7%68#2( $,'#$62,**( /9(4)#"( +/8$(
52#&*(#$,(9/$("),(98"8$,-?(I$#*#6(*#%6;
!"#$%&'()*+', !"#$%&
!!!!"#$%&'%(!)*+!),-)
!"#$ %&'($ )&*+%,-&./",$ 011.&23#$
4)%05$.6$3(2,.27.2/$,($-&.6#$&8&-#2#66$
&9(7,$ /&*$ -./",6$ .667#6$ (2$ 3&':76$ 9*$
"(6,.2/$,"#$;(72<#-6$(;$91(/$=>?#-*(2#$
.6$)&*@$&,$&2$&66#'91*$(2$A&-3"$BC
D-.6,.2$E766($&2<$F&2.#11#$G8#26+
E#.<H$8"($;(72<#<$=>?#-*(2#$ .6$)&*@$
.2$0:-.1$BIJIH$76#$="7'(-H$"(2#6,*H$&2<$
:.3,7-#6$(;$K.,,#26$,($67::(-,$*(7,"$8".1#$
K##:.2/$ ,"#'$ 1&7/".2/H@$ &33(-<.2/$ ,($
,"#$=>?#-*(2#$.6$)&*@$8#96.,#C
%#2.(-$ &2<$ )%0$ L(+M-#6.<#2,$
099*$A&"1#-$6&.<$6"#$8&6$N-6,$-#;#--#<$
,($=>?#-*(2#$.6$)&*@$9*$(,"#-$'#'9#-6$
(;$)%0C
=0$ ;#8$ (;$ (7-$'#'9#-6$ &-#$ &?.<$ !"#!$%&'()%*+!,)-./,!
-#.(/&$0*1
0(+11234-(%4
-#&<#-6$(;$ ,"#.-$91(/H$&2<$,"#.-$2&,.(2&1$
,(7-$ 6##'#<$ 1.K#$ &$ :#-;#3,$ '('#2,$ ,($
6#2<$ .2$ &$ -#O7#6,$ ;(-$ ,"#'$ ,($ 6:#&K$ &,$
%&'(H@$ A&"1#-$ 6&.<C$ =P,$ ,((K$ &$ ;#8$
'(2,"6$(;$#'&.16$9&3K$&2<$;(-,"$&2<$&$1(,$
(;$,&1K.2/$8.,"$&<'.2.6,-&,(-6H$97,$8#$N+
2&11*$'&2&/#<$,($8(-K$(7,$&2$&66#'91*C@
033(-<.2/$ ,($ A&"1#-H$ E766($ &2<$
G8#26+E#.<$8.11$3(?#-$&$?&-.#,*$(;$,(:+
.36$.2$,"#$&66#'91*C
=!"#$&66#'91*$8.11$3(?#-$6,&,.6,.36$
&9(7,$,"#$Q)R!S$3(2<.,.(2$.2$,"#$T2.,+
#<$%,&,#6H$3(23#:,6$&9(7,$(7-$.<#2,.,.#6H$
8"&,$8#$3&2$<($,($3"&2/#$,"#$8(-1<$&2<$
&$O7#6,.(2$&2<$&268#-$6#66.(2H@$A&"1#-$
6&.<C$ =!"#$ ,8($&.'$ ,($/.?#$&<?.3#$&2<$
'&K#$,"#$8(-1<$&$9#,,#-$:1&3#$;(-$#?#-*+
(2#H$ #6:#3.&11*$ Q)R!S$ ,##26$ 1((K.2/$
;(-$,"#.-$:1&3#C@
!"#$91(/$2&'#$=>?#-*(2#$.6$)&*@$
.6$ (2#$ ,"&,$ 3&2$ 9#$ .2,#-:-#,#<$ .2$'&2*$
8&*6C$ U72.(-$ &2<$ )%0$ 3(+:-#6.<#2,$
Q(/&2$V#2<#-6(2$9#1.#?#6$,"&,$,"#$,.,1#$
&:,1*$<#63-.9#6$,"#$91(/C
=P$ 9#1.#?#$ ,"&,$ ,"#$ :"-&6#$ W#?#-*+
(2#$.6$/&*X$'#&26$,"&,$#?#-*(2#$"&6$1(?#$
;(-$,"#$:#(:1#$.2$,"#.-$1.?#6H@$V#2<#-6(2$
6&.<C$=Y($'&,,#-$,"#$:#-6(2X6$/#2<#-$(-$
6#Z7&1$:-#;#-#23#H$,"#$1(?#$&2<$3(23#-2$
.6$,"#$6&'#H$&2<$,"&,$.6$&11$,"&,$'&,,#-6C@
A&"1#-$ .2,#-:-#,6$ ,"#$ 91(/$ ,.,1#$
6.'.1&-1*C$
=[#$&11$"&?#$(7-$"#&-,6$9-(K#2$&2<$
8#$&11$ 1(6#$(7-$?.-/.2.,*H@$A&"1#-$ 6&.<C$
=%('#,.'#6$ .,$ .6$ "&-<#-$8"#2$ *(7$ &-#$
6('#,".2/$ (,"#-$ ,"&2$ "#,#-(6#Z7&1H$ 97,$
8#$&11$"&?#$,"#$6&'#$.667#6C@
)%0$.6$37--#2,1*$;72<-&.6.2/$,($:&*$
;(-$,"#$=>?#-*(2#$.6$)&*@$&66#'91*C$
=[#X11$9#$76.2/$(7-$3179$<&*$'(2+
#*$&2<$"(6,.2/$&$*&-<$6&1#$&2<$9&K#$6&1#$
(2$\#9C$B]H@$A&"1#-$6&.<C$=!"#$1(3&,.(2$
(;$,"#$6&1#$"&6$*#,$,($9#$<#,#-'.2#<H$97,$
8#X-#$ &11$ 31#&2.2/$ (7,$ (7-$ 31(6#,6$ &2<$
9&K.2/$(7-$"#&-,6$(7,C@
R7,$ &33(-<.2/$ ,($ V#2<#-6(2H$ ,"#$
,8($ &-#$ :-&3,.3&11*$ ?.6.,.2/$ %&'($ :-($
9(2(C
=!"#*$&-#$^76,$&9(7,$?.6.,.2/$76$;(-$
;-##H@$V#2<#-6(2$6&.<C
A&"1#-$ "(:#6$ ,"&,$ ,"#$ =>?#-*(2#$
.6$)&*@$&66#'91*$8.11$"#1:$97.1<$&$'(-#$
,(1#-&2,$#2?.-(2'#2,$(2$3&':76C
=Q)R!S$ &<?.3#$ &2<$ "#1:$ .6$ &1+
8&*6$ .':(-,&2,$ .2$ &$ 8(-1<$ ,"&,$ (;,#2$
6#2<6$,"#$'#66&/#$,"&,$&2*(2#$8"($.<#2+
,.N#6$&6$2(2+"#,#-(6#Z7&1$.6$2(,$2(-'&1H@$
W>?#-*(2#$.6$)&*X$&66#'91*$63"#<71#<$;(-$A&-3"$A&"1#-$6&.<C$=[#$'76,$<($&11$8#$3&2$,($
#<73&,#H$&2<$.':-#66$,"#$.<#&$,"&,$2($(2#$
.6$8-(2/H$&2<$,"&,$#?#-*(2#$.6$/&*C@
V#2<#-6(2$ N2<6$ ,"&,H$ #?#2$ .2$ &$
-#1&,.?#1*$ 67::(-,.?#$ 3(''72.,*$ 1.K#$
%&2,&$A(2.3&H$,"#6#$,*:#6$(;$.667#6$&-#$
6,.11$?#-*$:-#?&1#2,C
=!".6$ &66#'91*$ .6$ #Z,-#'#1*$ 6./+
2.N3&2,$;(-$%&'($9#3&76#$:-#^7<.3#$&2<$
<.63-.'.2&,.(2$ &-#$ 6,.11$ ?#-*$ &3,.?#$ (2$
3&':76H$ #?#2$ .2$ ,"#.-$ 6'&11#6,$ ;(-'6H@$
V#2<#-6(2$ 6&.<C$ =[#$ &-#$ #23(7-&/.2/$
6,7<#2,6$ ,($ /#,$ .2?(1?#<H$ 72<#-6,&2<$
,"#$:(8#-$ ,"#*$"(1<$&6$ .2<.?.<7&16$&2<$
/-(7:6$&2<$6,&2<$7:$&/&.26,$"&,#C@
!".6$_&1#2,.2#X6$F&*H$,"#$F-&'&$
L179$ (;;#-#<$ &$ 72.O7#$ 8&*$ ,($ ,#11$
*(7-$ 6:#3.&1$ 6('#(2#$ ,"&,$ *(7$ 1(?#$
,"#'C$ P2$ ,"#$ 6:.-.,$ (;$ J`,"$ 3#2,7-*$
-('&23#H$ '#'9#-6$ (;$ F-&'&$ L179$
-#3.,#<$6(22#,6$.2$,".-<$&2<$;(7-,"$:#+
-.(<$31&66#6C
033(-<.2/$ ,($ 6(:"('(-#$ &2<$
F-&'&$L179$'#'9#-$%(:".#$!"('+
&6(2H$ ,".6$ .6$ ,"#$N-6,$ *#&-$ ,"#*$"&?#$
6(1<$ 6(22#,$ /-&'6C$ !"('&6(2$ &16($
6&.<$ ,"&,$ ,"#$/-&'6$8#-#$2(,$ 1.'.,#<$
,($-('&2,.3$/#6,7-#6C
=[#$ -#3.,#<$ %"&K#6:#&-.&2$ &2<$
2(2+%"&K#6:#&-.&2$6(22#,6C$%('#$(;$
,"#$6(22#,6$8#-#$-('&2,.3$&2<$6('#$
8#-#$3('#<.3H@$!"('&6(2$6&.<C
!"('&6(2$&16($6&.<$,"&,$,"#$<-&+
'&$ 3179$ "&<$ (-./.2&11*$ :1&22#<$ ;(-$
,"#$6(22#,$/-&'6$,($9#$6(1<$6('#,.'#$
9#;(-#$8.2,#-$9-#&KC
=[#$8&2,#<$&$8&*$,($;72<-&.6#$
2#$&*1(3*#$*4
0(+11234-(%4;(-$ ,"#$ <-&'&$ <#:&-,'#2,H$ &2<$ 8#$
,"(7/",$,"&,$6#11.2/$/-&'6$8(71<$9#$&$
?#-*$/((<$.<#&H@$!"('&6(2$6&.<C$=[#$
8&2,#<$,($<($6('#,".2/$1.K#$,".6$;(-$
L"-.6,'&6$97,$8#$3(71<2X,$:711$.,$,(+
/#,"#-$.2$,.'#C$Q73K.1*$8#$8#-#$&91#$
,($:711$.,$(;;$;(-$_&1#2,.2#X6$F&*C@
U72.(-$&2<$F-&'&$L179$'#'9#-$
A&,.1<&$A#&<$"&<$2(,$#Z:#3,#<$,($-#+
3#.?#$&$6(22#,$/-&'$9#3&76#$6"#$8&6$
&16($-#3.,.2/$,"#'C$A#&<$&16($,"(7/",$
,"&,$ ,"#$ /-&'6$ 8#-#$ &::-(:-.&,#$ ;(-$
,"#$;-.#2<1*$6:.-.,$(;$_&1#2,.2#6$F&*C
aP,$ 8&6$ .2,#-#6,.2/$ &2<$ -#&11*$
;722*$,($/#,$&$6(22#,$/-&'C$!"#$:#-+
6(2$8"($/&?#$ .,$ ,($'#$ ,-.#<$ ,($K##:$
.,$ &2(2*'(76$ 97,$ 8#$ 8#-#$ ,&1K.2/$
&9(7,$.,$(2$\&3#9((KHa$A#&<$6&.<C$=P$
,".2K$6(22#,+/-&'6$&-#$6($'73"$9#,+
,#-$ ,"#2$ 3&2<*+/-&'6$ 9#3&76#$ 8"#2$
*(7X-#$ -#&<.2/$ 6('#(2#$ &$ 6(22#,+
/-&'H$,"#.-$;&3#$,7-26$9-./",$-#<$&2<$
,"#*$/#,$-#&11*$#'9&--&66#<C@
F-&'&$3179$6:-#&<6$,"#$1(?#$8.,"$6(22#,$/-&'6
!"#$$%&%'()*#+,%-",,.%U72.(-$A#66.&"$R&.1#*$-#3.,#6$&$6(22#,$;(-$&$,".-<$:#-.(<$31&66$(2$\#9C$JbC$E>_0$%0Y!G$c$!"#$%&'(")
*4%+!%4'()%*+!,)-./,!
!"#$%&'#( !"#$%&$'()*+(),-)
!!!!!"#$%!&
!"#$%&'($)*'%%%%%%%%%%&'+%,+-",+!
)*+,-.-/001-2.31-
+,4056,--+,7-8.90-
.43,*:78;!"#$!
%&'(#)!7<.9*=78-
+,7-8+.6=.+7>-
35/+547-0"-+,7-
?.8+-+,*4+@[email protected]
!"#$%&'()$)*+$,"#$-*.)#/$"#01.2#)$
3)"#-#/$ .2$ 45$ 67*88#-)9:$ !"#$ ;#8-#)<
).=2$*2/$>=-1/$>*-$??$,3-2#/$,"#$%&@()$
*2/$%&A()$.2,=$,3031,3=3)$/#B*/#)9$!"#$
),#-#=,58.B*1$ CD-5*2$D0#-.B*2$;-#*0E$
-#.F2#/$=G#-$,"#$%&H()$4#I=-#$,"#$67=+#-$
B".1/:$ *2/$ 6I-##$ 1=G#:$ /=0.2*,#/$ ,"#$
%&J()$*2/$6K()9$L.2B#$,"#2M$"=+#G#-M$#N<
8#-,)$"*G#$2=,#/$,"*,$B31,3-#$"*)$,*8#-#/$
=II$ ,=$ *$ 81*,#*39$>".1#$ ,"#$ %&O()$ *2/$
%&&()$ 0*5$ B=2P3-#$ 0#0=-.#)$ =I$ 2#=2$
*2/$ 1#F+*-0#-)M$ ,"#$ 8*),$ ,".-,5$ 5#*-)$
"*G#$8*))#/$45$+.,"=3,$0*P=-$B"*2F#)$,=$
=3-$B31,3-#9$!".)$),*F2*,.=2$"=1/)$,-3#$I=-$
L*0=$*)$+#119$
!"#$5=3,"$=I$,"#$:@()$*2/$:A()$)8#2,$
,"#.-$/*5)$*,$L*0=$4#.2F$#2,#-,*.2#/$45$
I32B,.=2)$ )3B"$ *)$ ,"#$ *223*1$ $ 0.2),-#1$
)"=+M$+".1#$,"#$),3/#2,)$=I$,"#$:J()$#N<
8#-.#2B#/$#2,.-#15$/.II#-#2,$*-,)M$#2,#-,*.2<
0#2,$*2/$I*)".=2M$I-=0$,.#$/.#$*2/$8#*B#$
).F2)$,=$!"#$Q#*,1#)9$
CR*B"$/#B*/#$)=-,$=I$"*/$*$4.F$#G#2,$
,"*,$)".I,#/$,"#$+*5$8#=81#$,"=3F",$*4=3,$
+"*,$+*)$B=00=215$*BB#8,#/$,"#$/#B*/#$
4#I=-#9$ S#B#2,15M$ "=+#G#-M$ 2=,".2F$ ,==$
/-*),.B$"*)$"*88#2#/9$T-$*,$1#*),M$2=,".2F$
,"*,$"*)$*II#B,#/$,"#$+*5$)=B.#,5$.)$8-#)<
#2,15$1.G.2FME$P32.=-$U*,.1/*$U#*/$)*./9
DBB=-/.2F$ ,=$ R2F1.)"$ ,#*B"#-$ *2/$
L*0=$*13023)$Q#-V#1#5$Q1*,WM$.2$L*0=:)$
#*-15$ /*5)M$ )B"==1$ I32B,.=2)$ *2/$ #G#2,)$
+#-#$0=-#$I-#X3#2,$*2/$8=831*-9$L8=-,)$
+#-#$ P3),$ *)$ .08=-,*2,$ ,=$ ,"#$ )B"==1$ *)$
,"#5$*-#$,=/*5M$43,$0*25$+#-#$)=1#15$I=-$
0*1#)$ +.,"$ ,"#$ #NB#8,.=2)$ =I$ )52B"-=<
2.W#/$)+.00.2FM$ ,#22.)M$4*)#4*11$ *2/$*$
I#+$=,"#-$)8=-,)$I=-$F.-1)9$
DBB=-/.2F$,=$Q1*,WM$I-=0$,"#$:'()$,=$
,"#$:A()M$L*0=$"*/$/*2B#)$*2/$I32B,.=2)$
.2B13/.2F$ *$ "=0#B=0.2F$ /*2B#M$ +.2,#-$
I=-0*1M$ 8-=0M$ *2/$0*25$=,"#-)$ *,$ 1#*),$
=2B#$*$0=2,"9$DBB=-/.2F$,=$,"#$%&A%$#/.<
,.=2$=I$C!"#$Y*3,.13)ME$=2#$=I$,"#$0=-#$
#N,-*G*F*2,$ #G#2,)$ =I$ ,"#$ ,.0#$+*)$ ,"#$
CZ.#),*ME$+".B"$+*)$*$"3F#$/*2B#$"#1/$
.2$,"#$[-##V$,"#*,-#9$;-#))#/$.2$7*0#2B=$
B1=,"#)M$),3/#2,)$+=31/$"*G#$0=BV$4311<
\F",)$*2/$/*2B#$,"#$2.F",$*+*5M$43,$,".)$
,-*/.,.=2$B*0#$,=$*$B1=)#$*,$,"#$#2/$=I$,"#$
:A()9$R*B"$Z-./*5M$,"#$#2,.-#$),3/#2,$4=/5$
+=31/$F*,"#-$I=-$*2$*))#0415$*4=3,$,"#$
38B=0.2F$#G#2,)$*,$)B"==19
C!".2F)$+#-#$-#F31*-M$1#,:)$83,$.,$,"*,$
+*59$!"#-#$+=31/$4#$*$8#8$ -*115$ #G#-5$
,+=$+##V)9$Y=+M$.,$)##0)$0=-#$-*2/=0$
*2/$5=3$B*2:,$/#8#2/$=2$8#8$-*11.#)$*2/$
#G#2,)$,=$#G#2$"*88#2$,"#5$4#B*3)#$,"#5$
F#,$B*2B#11#/$)=$=I,#2ME$Q1*,W$)*./9
D$)3-F#$.2$B*-$8-=/3B,.=2$/3-.2F$,"#$
%&H()$*2/$%&J()$"*/$*2$.08*B,$=2$L*0=9$
DBB=-/.2F$,=$Q1*,WM$L*0=$"*/$*$8*-*/#$
I=-$"=0#B=0.2F$*2/$#*B"$L*0=$=-F*2.<
W*,.=2$/./$.,)$=+2$7=*,$,"*,$+*)$43.1,$=2$
,=8$=I$*$B*-9
C]#=81#$+#-#$.2$B*-)$*$1=,$.2$,"#$:H()$
*2/$:J()9$?,$+*)$*$B*-$B31,3-#9$R*B"$F-=38$
+=31/$)"=+$=II$,"#.-$V.2/$=I$B*-$*)$*$B31<
,3-#$),*,#0#2,ME$Q1*,W$)*./9
L.2B#$ ),3/#2,)$ =I$ ,"#$ %&J()$ =I,#2$
+#2,$,=$+=-V$-.F",$*I,#-$F-*/3*,.2F$".F"$
)B"==1M$L*0=$=II#-#/$*$05-.*/$=I$B*-##-$
-#1*,#/$B1*))#)$1.V#$̂ =0#$RB=2=0.B)$*2/$
>==/)"=89$D1,"=3F"$2=,$*11$),3/#2,)$"*/$
,"#.-$"#*-,)$ )#,$=2$*$B=11#F#$/#F-##M$ ,"#$
)B"==1$),.11$"*/$*2$*,0=)8"#-#$=I$8=1.,.<
B*1$*+*-#2#))9$D)$,"#$2*,.=2$8132F#/$.2,=$
,"#$_.#,2*0$>*-M$L*0=$),3/#2,)$4#B*0#$
.2G=1G#/$.2$,"#$8-=,#),9
C!"#-#$ +*)$ ),3/#2,$ .2G=1G#0#2,$
=2$*11$ 1#G#1)ME$Q1*,W$)*./9$C!"#-#$+*)$*$
+"=1#$/.II#-#2,$8=1.,B*1$#2#-F5$.2$,"#$*.-9E
D)$,"#$:K()$8-=F-#))#/$*2/$,"#$+*-$
B*0#$,=$*2$#2/M$,"#$0.2/)#,$=I$,"#$L*0=$
),3/#2,$4#F*2$,=$B"*2F#$5#,$*F*.29
C?,$+*)$B=081#,#15$/.II#-#2,9$D11$,"#$
7=+#-$B".1/-#2M$,"#$+*5$8#=81#$/-#))#/9$
D2/$,"#-#$+*)$*$),-.B,$/-#))$B=/# $̀+"#2$?$
\-),$),*-,#/$+#$B=31/2:,$#G#2$+#*-$8*2,)ME$
L8*2.)"$,#*B"#-$*2/$L*0=$B1*))$=I$%&K($
*1302*$a*-0#2$]*31$)*./9
>.,"$ ,"#$ *//.,.=2$ =I$ )8*2/#NM$ 1#F$
+*-0#-)$ *2/$ )"=31/#-$ 8*/)M$ ,"#$ %&O()$
3)"#-#/$.2$*$I-#)"0*2$F-*/#$,=$L*0=9$?2$
*//.,.=2M$Q1*,W$)*./$,"*,$,"#$%&O()$+#-#$
,"#$),*-,$=I$,"#$C6F#,$.2,=$B=11#F#:$0#2,*1<
.,59E
C]-.=-$b,=$,"#$:O()cM$V./)$+#-#$1#))$
B=2B#-2#/$ *2/$ ,"#-#$ +*)$ 1#))$ 8-#))3-#9$
>#$"*/$0=-#$=I$*$G*-.#,5$*,$)B"==1M$/.II#-<
#2,$B*-##-$8*,")9$L=0#$8#=81#$"*/$F-#*,$
./#*) $̀ ,"#5$ +*2,#/$ ,=$ F=$ ),-*.F",$ .2,=$
43).2#))9$!"#$:O()$+*)$+"#2$.,$4#B*0#$
6B=11#F#$B=11#F#$B=11#F#:$I=-$#G#-54=/5ME$
Q1*,W$)*./9
?2$,"#$d*23*-5$'(%'$.))3#$=I$_*2.,5$
Z*.-M$e3-,$D2/#-)#2$#N*0.2#)$,"#$B3,13-#$
=I$,"#$8*),$B#2,3-5$.2$".)$*-,.B1#$Cf=3$L*5$
f=3$>*2,$D$;#G=13,.=2ME$*2/$/-*+)$,"#$
B=2B13).=2$ ,"*,M$ I-=0$ ,"#$ 1*,#$ :O()$ I=-<
+*-/M$-*8./$B31,3-*1$F-=+,"$)##0)$,=$"*G#$
B=0#$,=$*2$#2/9$L*0=$.)$2=$#NB#8,.=29$
C?,$+*)$V.2/$=I$,"#$)*0#$,58#$=I$),3<
/#2,$*)$.,$.)$,=/*5ME$L*0=$B1*))$=I$%&O&$
*13023)$U*,,"#+$Z1*2/#-)$)*./9$$$$
TI$B=3-)#$)=0#$,".2F)$"*G#$B"*2F#/ $̀*B<
B=-/.2F$,=$I=-0#-$L*0=$,#*B"#-$]*,-.BV$
a*/5M$V./)$,=/*5$*-#$03B"$1#))$.2G=1G#/$
.2$)B"==1$)8.-.,$*2/$#G#2,)$,"*2$,"#5$+#-#$
.2$,"#$:&()$+"#2$"#$,*3F",$"#-#9
C!"#-#$+*)$*$+"=1#$1=,$0=-#$I*.,"$
.2$+"*,$ )B"==1$ /=#)ME$a*/5$ )*./9$ Cf=3$
+=31/$"=1/$*$8#8$-*115$*2/$*11$5=3$"*/$,=$
/=$.)$)*5$6L*0=:$*2/$V./)$+=31/$B"##-9E
!"#$ ),3/#2,$ =3,1==V$ =2$ )B"==1$
0*5$/.II#-M$43,$ .2$F#2#-*1M$03B"$ .)$ ),.11$
,"#$)*0#9$>#$"*G#$0*.2,*.2#/$,"#$)*0#$
CF#,$.2,=$B=11#F#E$0.2/)#,$,"*,$/#G#1=8#/$
.2$ ,"#$ :O()M$ *2/$*)./#$ I-=0$ ,#B"2=1=F5M$
03B"$=I$=3-$B31,3-#$ .2$ ,#-0)$=I$03).BM$
B1=,".2FM$*2/$1.,#-*,3-#$.)$G#-5$).0.1*-$,=$
,"*,$=I$,"#$:&()9$T3-$-#1.*2B#$=2$B=083,<
#-)$*2/$B#11$8"=2#)$ .)$/#\2.,#15$*$ 1*-F#$
8*-,$=I$=3-$B31,3-#$,=/*5M$43,$,"#)#$,#B"<
2=1=F.#)$*-#$+"*,$*11=+$3)$,=$B=2,.23#$,=$
4#$#N8=)#/$,=$8*),$B31,3-#$*2/$,"#-#I=-#$
-#81.B*,#$.,9
C>"#2$ ?$ ,".2V$ *4=3,$ ,"#$ 8=831*-$
)"=+)$ *2/$ 03).B$ =I$ ,"#$ :&()M$ ,"#5$ *11$
)##0$8-#,,5$ ).0.1*-$ ,=$+"*,$+#$ #N8#-.<
#2B#$ ,=/*5ME$ )#2.=-$ ;*G./$ !5-#<_.F.1$$
)*./9$C?$/=2:,$,".2V$,"#$F#2#-*1$B31,3-#$=I$
,"#$V./)$=I$,"*,$,.0#$+*)$*11$,"*,$/.II#-#2,$
I-=0$"=+$.,$.)$2=+9E
]1#2,5$ =I$ *)8#B,)$ =I$ =3-$ B31,3-#$
"*G#$-#0*.2#/$),*F2*2,$I-=0$,"#$:&()$,=$
,=/*5gL2==8$;=FFM$$,"#$Z==$Z.F",#-)M$
*2/$a=1/81*5$*-#$),.11$=2$=3-$-*/.=$,=8$A(M$
*2/$*25$F35$.2$P#*2)$*2/$*$7*22#1$+=31/$
#*).15$\,$ .2$+.,"$ ,"#$ ,##2*F#-)$=I$%&&H9$
>".1#$ .,$ .)$ B1#*-$ ,"*,$ 0*25$ *)8#B,)$ =I$
B31,3-#$"*G#$-#0*.2#/$32.I=-0$.2$-#B#2,$
5#*-)M$+"#,"#-$=-$2=,$=3-$)=B.#,5$"*)$".,$*$
B31,3-*1$-=*/41=*BV$=-$.I$B"*2F#$.)$)==2$,=$
B=0#$.)$5#,$,=$4#$/#,#-0.2#/9$
,AB$'C->&DAE
%*+,,!-./*0.
!"#$
!"#$
!"%&
!"'(
!"$)
!"&"
!"(!
!""&
!"#$%&'(")$*&+!),+%$-$./0123451/21234/56*107+891/:;98
+FG-H%&I#E%H-$F$'I#I-J2#H%-.BB-.'G&EIK-
DC-%L#-MB$HH-GN-OPPQ-R'AE-&S-$%-%L#-M$T#'$U
+FG-H%&I#E%H-#TD'$M#-AE-%L#-L$BBHUUU-
8GT#-%LAERH-E#V#'-ML$ER#U
+L'##-H%&I#E%H-SB$C-$-R$T#-GN-+'AVA$B-
?&'H&A%-U
.-H%&I#E%-WTGEX#CH-$'G&EIY-$H-L#-
L$ERH-N'GT-$-%'##U
"#T$B#-H%&Z
I#E%H-H%'AX#-
$-SGH#-$H-
%L#C-HLGF-
GNN-%L#A'-
H%CB#-$%-
OP[\-?'GT-
/#N%]-3L##'B#$I#'H-%L'GF-&S-
J:AXAER-:HUK
2G%%GT]-+L#-OP^O-$BBZRA'BH-
_G&'E$BAHT-MB$HH-SGH#H-NG'-
%L#-M$T#'$U
"#T$B#-H%&I#E%H-GN-%L#-Y`aH-L$'I-$%-FG'X-AE-
$-,GT#-7MGEGTAMH-MB$HHU
!"#!
#$%"
!"#$%&'#(!"#$%&$'()*+(),-)
!!!!!"#$%!&
!"#$%#&'#!$()*#$+*$!"#$%,-%!)!,!#$!#.&"#'
!"#"$%&' ()**+$!' !,+-.' /0' ,1-+2
3+)$"-'4)5','6*,7',$-'0'5",*+8"-'0'
5",**7' *)#"-' +3'9' 0:#"' ;""$' ,<32
+$='"#"5'!+$<".'0:#"'-)$"','*)3')4'
+$3"5$,3+)$,*'!3,="'!>)?!.'0'?"$3'
3)'@"5A,$7')$<"',$-'6*,7"-' 3>"'
!+-"B+<B' 3)' 3>"' *",-' +$' /C)!"6>'
,$-' 3>"' DA,8+$=' E"<>$+<)*)5'
F5",A<),3&' ?>+<>' ?,!' 5",**7'
<))*.'G)?'0'A,+$*7'?)5B')$'/F)='
G"?!.&'H15'+$!6+5,3+)$'?,!'/I)J'
G"?!.&'K"'A,B"' 41$' )4' !)<+"37%'
3>"'A"-+,',$-'#,5+)1!'35"$-!',$-'
,33+31-"!%&'()**+$!'!,+-.
()**+$!'"J6*,+$"-'3>,3'?)5B2
+$=' ,!' ,$' ,<3)5' >,!' ;)3>' ,-#,$2
3,="!',$-'-+!,-#,$3,="!.
/L"<,1!"' )4'A7'?";' !"5+"!%'
0:#"'=)33"$',' *)3')4',1-+3+)$!'4)5'
$"?'5)*"!.'0',*!)'>,#"'!)A"'4*"J2
+;+*+37.' 0' ="3' 3)' -)' !)A"' +A65)#'
<)A"-7' 45)A' 3+A"' 3)' 3+A".' E>"'
;,-'3>+$='+!'3>,3'0')43"$'65)<5,!2
3+$,3".'03'+!',';,*,$<+$=',<3'?>"$'
0' ="3' 5",**7' ;1!7%&' ()**+$!' !,+-.'
/0' )43"$' >76"5' 4)<1!' )$' "+3>"5'
M!1;;+$=' )5' ,<3+$=N' ?>+<>' <,$'
;"' ;,-.' L13' )#"5,**' 0' ?)1*-$:3'
<>,$="'+3.&
I)5' O+<>,5-' ())6"5%' P",$'
Q,?*+$=' ,$-' R,3>,5+$"' ()**+$!%'
!1;;+$=' +!' $)3' )$*7' ,' ?,7' 3)'
A,B"' A)$"7' 3>5)1=>' "-1<,3+$='
!31-"$3!%' ;13' ,*!)'65)#+-"!' 3>"A'
?+3>' 3>"' 4*"J+;+*+37' 3)' 615!1"'
)3>"5'6,!!+)$!%'*+B"',<3+$=%'!+$=2
+$=',$-'?5+3+$=.'
())6"5' +!' ,'?"**2B$)?$'!1;'
)$'<,A61!%'?>"5"'>"'<,$'1!1,**7'
;"' 4)1$-' =1+-+$=' *)!3' S$=*+!>'
<*,!!"!.' T"' +!' ",!+*7' 5"<)=$+8"-'
;7' >+!' U,A,B,' ,$-' ?>,3' >"' -"2
!<5+;"!',!'/!35+$=!&')$'>+!'6,$3!.
/E>"' 4+5!3' V1"!3+)$' !31-"$3!'
1!1,**7' ,!B' A"' +!%' WK>,3' ,5"'
3>)!"' !35+$=!' 4)5X:&' ())6"5' !,+-'
?>+*"' *,1=>+$=.' E>"' !35+$=!' ,5"'
<,**"-'/38+38+&',$-'3>"7'5"65"!"$3'
3>"' E"$' ()AA,$-A"$3!' +$' 3>"'
E)5,>.
L"+$=' ,' !1;!3+313"' >,!' ;""$'
V1+3"'+$4*1"$3+,*'4)5'())6"5%'?>)'
?5+3"!'+$'>+!'45""'3+A"',$-'+!'<152
5"$3*7' 1!+$=' >+!' !1;;+$=' Y);' ,!'
+$!6+5,3+)$' 4)5' 3>"' $)#"*' >"' +!'
?5+3+$=.
/O+=>3' $)?' 0' ,A' ?)5B+$='
)$' ,';))B',;)13'A7'"J6"5+"$<"!'
,!','!1;.'0',*!)'313)5'4)5'3>"'<)*2
*"="',66*+<,3+)$'65)<"!!',$-'>"*6'
!31-"$3!' +A65)#"' 3>"+5' ?5+3+$='
!B+**!%&'())6"5'!,+-.
0$' ,--+3+)$' 3)' 313)5+$=' ,$-'
?5+3+$=%' ())6"5' +!' ,*!)' ,' 6,532'
3+A"' ,<3)5.' T"' A)!3' 5"<"$3*7'
?)5B"-' )$' ,' !A,**' +$-"6"$-"$3'
4+*A' <,**"-' /P,#"' 3>"' F,3"%&'
?>+<>'65"A+"5"-',3'3>"'P1$-,$<"'
I+*A'I"!3+#,*'+$'C,$1,57.
/0')$*7'>,#"'3?)'*+$"!'+$'+3%&'
())6"5' !,+-' $)$<>,*,$3*7.' /Z7'
3)6'65+)5+37'5+=>3'$)?'+!'?5+3+$=.'
0$' 3>"' 6,!3' ,<3+$=' ?,!' A7' A,+$'
3>+$=%';13'$)3',$7A)5".'Z7'3>+$='
$)?' +!' 3)'="3' !31-"$3!' +$3"5"!3"-'
+$'?5+3+$=.'04'P,A)'?"5"'3)')6"$'
,' <5",3+#"' ?5+3+$=' <*,!!' 0' ?)1*-'
;"' #"57' +$3"5"!3"-' +$' 3",<>+$='
+3.&
K>+*"' ,3' P,A)%' ())6"5' >,!'
;""$' >"*6+$=' !31-"$3!' 3)' >)$"'
3>"+5' S$=*+!>' !B+**!' ,$-' +$!6+52
+$=' 3>"A' 3)' "J65"!!' 3>"A!"*#"!'
3>5)1=>' 3>"' ?5+33"$' ?)5-.' ())2
6"5' ?+**' 5"A,+$' )$' <,A61!' ,!'
S$=*+!>' 3",<>"5' C"$$+4"5' Q1!3:!'
!1;!3+313"' 1$3+*' Z,5<>' [' ?>"$'
!>"'5"315$!'45)A'A,3"5$+37'*",#".'
0$'3>"'6>)3)'5))A%'!1;!3+313"'
P",$' Q,?*+$=' >"*6"-' !31-"$3!'
"J65"!!' 3>"A!"*#"!' 3>5)1=>' -+42
4"5"$3'A"-+1A!%'+$<*1-+$='A1!+<'
,$-' 6>)3)=5,6>7%' 1$3+*' >"' ?,!'
5"<"$3*7' 5"6*,<"-' ;7' *)$=23"5A'
!1;'D*+<"'T,**.'
' Q,?*+$=' 6*,7"-' 35)A;)$"'
-15+$=' <*,!!' ,$-' >"*6"-' )13' 3>"'
;5,!!' !"<3+)$' )4' 3>"' A1!+<' -"2
6,53A"$3' +$' >+!' 45""' 3+A".' Q,?*2
+$=' !,+-' >"' ,*!)' *",5$"-' ,' 3>+$='
)5'3?)',;)13'6>)3)=5,6>7.
/03:!' 3)1=>' !1;!3+313+$=' 4)5'
,' !1;Y"<3' 0' B$)?' $)3>+$=' ,;)13%'
;13' 3>"' !31-"$3!' 3,1=>3'A"' ,' *)3'
,;)13' 6>)3)=5,6>7.' E>"' 3?)' ,5"'
$)3'3>,3'-+44"5"$3%'A1!+<',$-'6>)2
3)=5,6>7%&' Q,?*+$=' !,+-.' /E>"'
<,A"5,' +!' *+B"' ,$' +$!351A"$3.' 03'
+!' ,' ;,55+"5' ;"3?""$' 7)1' ,$-' #+2
!+)$',$-'7)1',**)?'3>,3'#+!+)$'3)'
<)A"')13'3>5)1=>'3>"'3"<>$)*)=7'
,$-'35,$!<"$-'+3.&
Q,?*+$=' -+-$:3' ,*?,7!' ?,$3'
3)';"',' !1;!3+313".' 0$' 4,<3%'Q,?*2
+$=' +!' ,*!)' ,' A1!+<+,$.' T"' ?"$3'
3)' 3>"' \$+#"5!+37' )4' (,*+4)52
$+,%' ])!' D$="*"!' ^\(]D_' ,$-'
=)3' >+!' A,!3"5!' -"=5""' +$' A12
!+<' 45)A'\$+#"5!+37' )4' P)13>"5$'
(,*+4)5$+,' ^\P(_.'D43"5' <)**"="%'
Q,?*+$=' 35,#"*"-' 3)' G"6,*' ,$-'
E>,+*,$-' ;"4)5"' ,33"$-+$=' 3>"'
()*;15$' Z1!+<' ()$!"5#,3)57.'
K>+*"' +$'D!+,%' Q,?*+$='?"$3' )$'
,' [`a2A+*"' 35"B' 16'S#"5"!3'L,!"'
<,A6.'0$'G"6,*%'>"'35,#"*"-';,<B'
3)' 3>"' >)A"' )4' )$"' )4' >+!' >+=>'
!<>))*' 45+"$-!' ?>"5"' >"' *",5$"-'
,;)13' G"6,*"!"' <1*315"' ,$-'
6*,7"-'A1!+<.
/03' ?,!' A)!3*7' ,' 5"*,J+$='
35+6%&'Q,?*+$='!,+-.'/0$'E>,+*,$-'
0'Y1!3'>1$=')13',$-'4)1$-'A7!"*4'
,';+3.'0'>,-',';+3')4'"J35,'!31-"$3'
*),$'A)$"7'3)';*)?.&'
Q,?*+$=' "$-"-' 16' ="33+$='
>+!' 3",<>+$=' <5"-"$3+,*' !)' >"'
?)1*-$:3'>,#"'3)'Y1A6'>",-'4+5!3'
+$3)' 3>"' A1!+<' +$-1!357.' L7' ;"2
+$=' ,' 6,5323+A"' 3",<>"5%' Q,?*+$='
+!' ,;*"' 3)' 615!1"' >+!' 6,!!+)$' )4'
A1!+<,*' +$!351<3+)$'?+3>)13'>,#2
+$=' 3)'?)557' ,;)13' 3>"' 4+$,$<+,*'
+$!3,;+*+37')4'3>"'A1!+<'+$-1!357.
0$' ,--+3+)$' 3)'6*,7+$=' 35)A2
;)$"' ?+3>' ])!' D$="*"!9;,!"-'
)5<>"!35,!'!1<>',!'E>"'DA"5+<,$'
U)13>' P7A6>)$7' ^DUP_%' Q,?*2
+$=' +!' ,*!)' 65)-1<+$=' >+!' )?$'
,*;1A.
/0' >,#"' A7' ;,$-%' 3>"' P",$'
Q,?*+$='@5)16.' 0' 6*,7' 35)A;)$"'
,$-' =1+3,5%' ,$-' ?"' ,*!)' >,#"'
-51A!' ,$-' 6+,$).' E>"' !)1$-' +!'
5",**7' 1$+V1".' C1!3' *,!3' A)$3>'
0' <,A"' )13' ?+3>' A7' SQ%&' Q,?*2
+$='!,+-.'/K>"$'0:A'$)3'!1;;+$='
0' 3",<>' 65+#,3"' A1!+<' *"!!)$!%'
=1+3,5%' 35)A;)$"' ,$-' !)A"3+A"!'
#)+<".&
D$)3>"5' ?"**' B$)?$' !1;' )$'
<,A61!' +!' R,3>,5+$"' ()**+$!.'
(155"$3*7' ()**+$!' +!' !1;;+$=' 4)5'
Z,5+,' P3"#"$!:' S$=*+!>' <*,!!'
?>+*"' P3"#"$!' +!' )13' )$' A,3"52
$+37' *",#".' L"4)5"' 3>,3%' ()**+$!'
?,!'3>"'3"A6)5,57'!1;'4)5'Z,537'
b"5-1=):!'!)<+,*'!31-+"!'<*,!!"!.
H13!+-"')4'!<>))*%'()**+$!'+!'
,'6,53'3+A"',<3)5.'()**+$!'=)3'>"5'
!3,53' ?)5B+$=' )$' 3>"' !3,="' ,$-'
$)?' !>"' ,<3!' +$' ,' !,3+5+<,*' ?";'
!"5+"!'<,**"-'/F)='G"?!.&
/0'!3,53"-',<3+$='?>"$'0'?,!'
0$'[aa[%'()**+$!'!3,53"-'!1;2
;+$=',3'Z,*+;1'T+=>'P<>))*',!','
A",$!'3)'6,7'>"5';+**!.
/0'$""-"-'3)'="3','Y);%&'()*2
*+$!' !,+-%' =5+$$+$=.' /0' -+-' !)A"'
;,;7!+33+$=' +$' >+=>' !<>))*' ,$-'
0' 5",*+8"-' 0' 5",**7' *+B"' ?)5B+$='
?+3>' B+-!.' 0' 4""*' 5",**7' *1<B7' 3)'
>,#"' ,' Y);' 3>,3' ,**)?!'A"' 3)' -)'
3>,3.&
()**+$!' ;"*+"#"!' !>"' +!' 4)52
31$,3"' 3)' ;"' ,;*"' 3)' 615!1"' 3>"'
3?)' 3>+$=!' !>"' *)#"!c' ?)5B+$='
?+3>' <>+*-5"$' ,$-' 6"54)5A+$=.'
I)5' !1;!3+313"!' Q,?*+$=%' ())6"5'
,$-'()**+$!%'!1;!3+313+$='+!'A)5"'
3>,$'Y1!3','!+-"'Y);.'03'+!',$'",!7'
?,7'3)'615!1"','6,!!+)$%'?>"3>"5'
+3'+!'3",<>+$='?5+3+$=%'+$!351<3+$='
A1!+<')5'Y1!3'!6"$-+$='3+A"'?+3>'
B+-!.
P)%' $"J3' 3+A"' ,' !1;!3+313"'
?,*B!' +$3)' <*,!!%' ?>)' B$)?!' >"'
)5'!>"'<)1*-';"'<>"4%','6,53' 3+A"'
A)-"*' )5' A,7;"' "#"$' ,' 5"3+5"-'
,3>*"3".' K>,3' <,$' ,' !1;!3+313"'
;5+$=' 3)' ,' <*,!!5))AX' E>"' 6)!2
!+;+*+3+"!',5"'"$-*"!!.'
!"#$%&'($)"*+(P",$'Q,?*+$=',+-!'L5+,$'D*4,$)'+$'A+J+$='-"#"*)6"5'4)5'>+!'6>)3)'65)Y"<3.
$,-+(E>"'6)!3"5'4)5'/P,#"'3>"'F,3"%&','d*A'+$'?>+<>'())6"5',62
6",5!eL188;)J.<)A'.,//,0+'E>"'SQ' <)#"5' )4' Q,?*+$=:!' /0$$"5'
(>+*-&'e'P",$6,?*+$=.<)A
&1#22!'&3/1c'P1;!3+313"'3",<>"5'O+<>,5-'())6"5'+$!351<3!'>+!'Y1$+)5'S$=*+!>'<*,!!.
)*++*$,-.$+*/0'!"#$$%&'(")'
!"#$%&'(")*%&+&,-.&$/01-2
!"#$%&'(")*%&+&,-.&$/01-2
*+#*(,-."-),#/0-(120/
!"#$%&'#(!!!!!"#$%!&
!"#$$%&'%(!)"#*+&!,%,-,#,.&/0#&12$*+
!"#!$!"%$%&'%()%)$'*+%$,'-$."#(/0
1,++23$4-5-6-7-$"#)$8#(2$),''9:!0
%:)$ !"#!$ ;9(#!%$ !"%*:$ !*8%$ #(;<9:$
89(%2$!9$!"%$=#,)%-
>7?%:2!"*(@$ *)$ ;9(%$ !":9,@"$
;9(#!*9()3A$ B#()1*%+;$ )#*;-$
>C*!"9,!$ '%9'+%D)$ @%(%:9)*!2$ E%$
E9,+;(D!$ "#?%$ "#;$ #(2!"*(@$ !9$
@*?%-A
F($ !"%$ GHHI0JH$ )="99+$ 2%#:3$
B#()1*%+;$ K:9,@"!$ !"%$ 9:@#(*L#0
!*9($!9$4#89$#)$#$=+,K-$M9E%?%:3$
#$ +#=/$91$':9'%:$ 1,(;*(@$K:9,@"!$
!"%$=+,K$!9$#$=+9)%-$
>C%$%(;%;$,'$)'%(;*(@$89:%$
89(%2$!"#($E%$8#;%3A$B#()1*%+;$
)#*;-
M9E%?%:3$ B#()1*%+;$ 8#(#@0
%)$!9$K#+#(=%$"%:$E9:/$19:$!"%$9:0
@#(*L#!*9($E*!"$"%:$)="99+E9:/-$
>F$ #8$':%!!2$@99;$#!$K#+#(=0
*(@$ 82$ )="99+E9:/$ E*!"$ %&!:#0
=,::*=,+#:)$#(;$ !"%$E9:/$ F$;9$ 19:$
4-5-6-7-$F$;9(D!$?*%E$*!$#)$#$ N9K3$
K,!$ 89:%$ +*/%$ #$ "9KK2-$ O9*(@$ !9$
B2#(8#:$8#;%$#++$!"%$"#:;$E9:/$
E9:!"$ *!P$ F$E9,+;$;9$*!$#@#*($ *($#$
"%#:!K%#!-A
C"*+%$)="99+$;9%)$(9!$;%!:#=!$
1:98$ "%:$ E9:/$ E*!"$ 4-5-6-7-3$
+*8*!%;$ !%="(9+9@2$ #(;$ =988,0
(*=#!*9($*($B2#(8#:$"*(;%:$)98%$
91$"%:$%119:!)-
>F$ @%!$ 1:,)!:#!%;$ E*!"$ !"%$
!*8%$ ;*11%:%(=%$ #(;$ !"%*:$ +#=/$ 91$
:%+*#K+%$*(!%:(%!-$F!$8#/%)$*)$:%#+0
+2$ ;*11*=,+!$ !9$ =988,(*=#!%$ E*!"$
'%9'+%3A$ B#()1*%+;$ )#*;-$ >Q#0
!*%(=%3$'#!*%(=%3$'#!*%(=%-A
R%)'*!%$ )+*@"!$ 9K)!#=+%)3$
B#()1*%+;$ 1*(;)$#$E#2$ !9$8#/%$#$
;*11%:%(=%$*($B2#(8#:-$
>F$"#;$!"%$89)!$,(K%+*%?#K+%$
!*8%$ *($ B2#(8#:$ !"*)$ '#)!$ R%0
=%8K%:-$ F$ 8#;%$ 1:*%(;)$ !"#!$ E*++$
+#)!$ #$ +*1%!*8%$ *($ !"9)%$ )"9:!$ JH$
;#2)-$S,)!$!9$)%%$#$/*;)$1#=%$#1!%:$
!#/*(@$ !"%*:$ ',+)%$ 9:$ +*)!%(*(@$ !9$
!"%*:$ +,(@)$ E#)$ ':*=%+%))3A$B#(0
)1*%+;$)#*;-
T(%$91$!"%$:%#)9()$B#()1*%+;$
+9?%)$ K%*(@$ #$ '#:!$ 91$ 4-5-6-7-$ *)$
K%=#,)%$ *!$ ':%'#:%)$ "%:$ 19:$ "%:$
*;%#+$ ':91%))*9(-$ B#()1*%+;$ "#)$
#+E#2)$ K%%($ *(!%:%)!%;$ *($ !"%$
8%;*=#+$ 1*%+;$ #(;$ )"%$ :%=%(!+2$
=988*!!%;$!9$!"%$4="99+$91$U*(%0
)*9+9@2$ !9$ )!,;2$ #!"+%!*=$ !:#*(*(@$
#!$V(*?%:)*!2$91$B*="*@#(-$
>O:9E*(@$ ,'$ F$ '+#2%;$ #$ +9!$
91$)'9:!)3$K,!$F$@9!$*(N,:%;$#$+9!3A$
B#()1*%+;$)#*;-$>4'9:!)$8%;*=*(%$
E*++$+%!$8%$K%$*(?9+?%;$*($#$)'9:!3$
F$N,)!$;9(D!$"#?%$#$="#(=%$91$@%!0
!*(@$*(N,:%;-A
5*;*(@$ '%9'+%$ *($ B2#(8#:$
"#)$@*?%($B#()1*%+;$#$199!$*($!"%$
;99:$ 19:$ )!,;2*(@$ 8%;*=*(%-$ 5=0
=9:;*(@$!9$B#()1*%+;3$89)!$91$!"%$
'%9'+%$ *($ B2#(8#:$ "#?%$ (%?%:$
K%%($ !9$ #$ ;9=!9:$ 9:$ "#;$ #$ 8%;*0
=#+$%-$
>C%$E%(!$!9$#$1*)"*(@$?*++#@%$
9(=%$ #(;$ )%!$ ,'$ #$ K*@$ !#:'$ #(;$
)98%$="#*:)$19:$'%9'+%$!9$@%!$%&0
#8*(%;3A$ B#()1*%+;$ )#*;-$ >M,(0
;:%;)$91$'%9'+%$=#8%$1:98$!9E()$
8*+%)$ 9?%:-$5$ +9!$ "#;$(%?%:$ @9(%$
!9$#$;9=!9:-A
C"%!"%:$ *!$ E#)$ @*?*(@$ !"%8$
!"%*:$ 1*:)!$ '#*:$ 91$ )"9%)$ 9:$ 1*:)!$
!%!#(,)$ )"9!3$ 4*%::#$B#()1*%+;$ *)$
@*?*(@$ *(?#+,#K+%$ @*1!)$ !9$ '%9'+%$
E"9$(%%;$*!$!"%$89)!-$ $$
)*$+,$-./-'$0#+
!"#$$%&'(")'
4F7WW5$B5X4YF7ZR$<$!"#$%&'($)%
!"#$%&$'()*+(),-)
#*('#*)+,"-).#/0-(120/
!"#$%&'
()"*!+*
"!"&,-'
*!./"
0-(/*
1"B#()[%+;$
)"9E)$="*+;
:%($
'"9!9)$9($"
%:$=#8%:#$*(
$#$B2#(8#:
$
?*++#@%-
$."+-'(")+)*1"T(%$91$!"%$="*+;:%($1:98$B2#(8#:$
'9)%)$19:$4*%::#D)$=#8%:#-
*!+"%,
))*)1"B#
()[%+;$)8*+%
)$
E*!"$="*+;:%
($*($B2#(8
#:-$
&,'23*"'#1B#()[%+;$#(;$B2#(8#:%)%$K92$
@*?%$!"%$=#8%:#$#$!",8K)$,'-
5)$ 4*%::#$B#()1*%+;$ )"9E%;$
"%:$ =#8%:#$ !9$ ="*+;:%($ +*?*(@$ *($
#$ )8#++$ ?*++#@%$ *($B2#(8#:3$ )"%$
)"#:%;$ #($ %&'%:*%(=%$ =9889($ !9$
,)$K,!$=98'+%!%+2$,(1#8*+*#:$#(;$
%&!:#9:;*(#:2$ !9$ !"%8-$ B9)!$ 91$
!"%)%$ ="*+;:%($ "#;$ (%?%:$ )%%($ #($
*8#@%$91$!"%8)%+?%)3$(9:$!"%$8#0
="*(%$ *($ E"*="$ !"%$ '"9!9)$ E%:%$
':9;,=%;-$5)$)"%$ !*+!%;$ !"%$)8#++$
)=:%%($!9E#:;)$!"%83$@:*()$K:9/%$
9,!$#=:9))$!"%*:$1#=%)-$
>."%$ +99/$ 9($ !"%*:$ 1#=%)$
8#;%$ 8%$ !%#:$ ,'\!9$ )%%$ !"#!$
8,="$ N92$ 9($ #$ '%:)9(D)$ 1#=%$ K%0
=#,)%$91$#$'"9!9@:#'"$E#)$#8#L0
*(@3A$B#()1*%+;$)#*;-
B#()1*%+;$*)$#$8%8K%:$91$!"%$
4!,;%(!$ 5=!*9($ 69+,(!%%:$ 7119:!$
]4-5-6-7-^3$ #($ 9:@#(*L#!*9($ !"#!$
8#/%)$1:%_,%(!$8%;*=#+$8*))*9()$
!9$B2#(8#:-$5==9:;*(@$!9$B#()0
1*%+;3$K%=#,)%$!"%$=9,(!:2$$$$$$$$
$ "#)$K%%($*(?9+?%;$*($$
$ #$`*?*+$C#:$)*(=%$JIab3$$
$ 4-5-6-7-$*)$!"%*:$8#*($$
$ )9,:=%$91$8%;*=#+$"%+'-$$
$ 4-5-6-7-$E#)$19,(;%;$$
$$$$$$$$$$$$$*($GHHc$K2$#$4#(!#$B9($$$$$$
$ *=#$'%;*#!:*=*#(3$R:-$$$$$$$$
$ B#:(#$O%*)+%:3$#(;$B#($
$$$$$)1*%+;D)$89!"%:3$X#(=2$B#()$$$$$$$$$
$ 1*%+;3$E"9$:%8#*()$#$/%2$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
1*@,:%$*($4-5-6-7-
>B2$ 898$ E%(!$ 9($ #$ !:*'$ !9$
B2#(8#:$ E*!"$ R:-$ O%*)+%:3$ #(;$
!"%:%$E#)$#$(%%;$!9$8#/%$!"%$!:*')$
89:%$ 19:8#+$ #(;$ @*?%$ '%9'+%$ !"%$
#K*+*!2$!9$"#?%$!#&$;%;,=!*K+%$;90
(#!*9()-$4"%$1%++$ *($ +9?%$E*!"$ !"%$
'%9'+%$ 91$ B2#(8#:$ #(;$ E#(!%;$
!9$ @*?%$ K#=/-$ ."%2$ (%%;%;$ )9$
8,="3A$B#()1*%+;$)#*;-
$B#()1*%+;$ )99($ 19++9E%;$ *($
"%:$89!"%:D)$199!)!%')$#(;$N9*(%;$
!"%$4-5-6-7-$K9#:;-
X#(=2$ B#()1*%+;$ )#*;$ !"#!$
E9:/*(@$ E*!"$ "%:$ ;#,@"!%:$ 9($
!"*)$ ':9N%=!$ "#)$K%%($ #($ #8#L*(@$
%&'%:*%(=%-$
$ >F!$ *)$ #$ +#K9:$ 91$ +9?%$ #(;$
8#/%)$8%$#'':%=*#!%$#++$F$"#?%-$F$
E#)$ )9$"#''2$ !9$"#?%$82$;#,@"0
!%:$9($!"*)$!:*'3A$X#(=2$B#()1*%+;$
)#*;-$>F!$E#)$E9(;%:1,+$!9$K%$#K+%$
!9$)"#:%$!"*)$E*!"$d4*%::#e-A
B#()1*%+;$ E#)$ *()!#(!+2$
;:#E($ !9$ !"%$ =#,)%$ K%=#,)%$ 91$
"%:$*(!%:%)!$*($8%;*=*(%-$4"%$#+)9$
E*)"%;$ !9$ K:9#;%($ "%:$ "9:*L9()3$
K9!"$+*!%:#++2$#(;$1*@,:#!*?%+2-$
>Z#:@%$ 8%;*=#+$ 8*))*9($
@:9,')$ +*/%$ R9=!9:)$ C*!"9,!$
f9:;%:)$ ;9$ (9!$ @9$ !9$B2#(8#:3A$
B#()1*%+;$)#*;-$>F$ !"9,@"!$ *!$E#)$
*8'9:!#(!$!9$?*)*!$#$=9,(!:2$E"%:%$$$$$$$$
89)!$ '%9'+%$ "#?%$ (9!$ :%=%*?%;$
#(2$8%;*=#+$#!!%(!*9(-A
C"*+%$ 9($ !"%$ 8*))*9()3$ )"%$
"%+'%;$ !"%$ =988,(*!2$ 91$ B2#(0
8#:$ *($8#(2$E#2)-$ F($R%=%8K%:$
GHJJ3$)"%$#(;$!"%$:%)!$91$4-5-6-7-$
!:#?%++%;$ !9$ B2#(8#:3$ #(;$ *($
#$ !*8%$ )'#($ 91$ 19,:$ ;#2)3$ cgH$
'%9'+%$ :%=%*?%;$8%;*=#!*9()$ #(;$
8%;*=#+$#))*)!#(=%-
>C%$ ':9?*;%;$ 1,(;)$ 19:$ 9(%$
91$ !"%$ ?*++#@%)$ !9$ K,2$ 8#!%:*#+)$
!9$K,*+;$#$=9?%:$19:$!"%*:$;:*(/*(@$
E#!%:$ E%++3$ #(;$ 19:$ !"%$ *()!#++#0
!*9($ 91$ #$ !9*+%!$ *($ !"%$ 89(#)!%:2$
)="99+-$ C%$ '#*;$ 19:$ )"9%)$ 19:$
9?%:$ JgH$/*;)$ #!$ )="99+-$C%$ #+)9$
),''+*%;$@+#))%)$!9$9?%:$GHH$'%90
'+%3A$B#()1*%+;$)#*;-
4*(=%$ !"%$ !%#8$ !:#?%+)$ !9$
B2#(8#:$91!%($#(;$K,2)$),''+*%)$
19:$ !"%*:$ !:*')3$ B#()1*%+;$ )#2)$
@@@@
@
!"#$%&'#"$#(")#)"#$%&'*#!+&)#,-#(")#)+%#./%-),"(#0"(%-#1,)-2%$
!"#$$%&'(")'
!"#$% "% &"'(% )*+,-#*% ./00% (#-%
,"$%1-"23%*3-%4(/#*%.3-#5%)+11(+#,-,%
6$% 3-"4)% (7% 6((8)% "))/9#-,% ")% 1-",:
/#95% *3-$% ./00% 2")*% *3-/1% -$-)% *(% *3-%
+#7(19/;/#9% )8/-)% "#,% ")8% .3"*% 21+:
-0*/-)%2(#*1(0% *3-%+#/;-1)-%*3"*%.(+0,%
'"8-%*3-'%)+77-1%)(<%=-*%,-)4/*-%.3"*%
'"$%6-%4-12-/;-,%")%*(1*+1-%6$%'"#$5%
*3-1-% /)% 0(9/2% 6-3/#,% "00% *3-% 1-",/#9%
-#2(+1"9-,%"#,%1->+/1-,%6$%*-"23-1)<
?@% A1'0$% 6-0/-;-% *3"*% )*+,-#*)%
)3(+0,% 4+1)+-% (+*)/,-% 1-",/#9% 6-:
2"+)-% *31(+93% 1-",/#95% $(+B1-% #(*%
(#0$% -,+2"*/#9% $(+1)-07% 6+*% $(+B1-%
"0)(%0-"1#/#9%#-.%;(2"6+0"1$5%-C4"#,:
/#9%$(+1%8#(.0-,9-5%61(",-#/#9%$(+1%
3(1/D(#)5% "#,% +0*/'"*-0$% 6-2('/#9% "%
6-**-1% 90(6"0% 2/*/D-#5E% &"'(% F#90/)3%
*-"23-1%!-9"#%G"08-1%)"/,<%?H%.-00:
1-",%4-1)(#%/)%"%.-00:)4(8-#%4-1)(#<E
I-21-"*/(#"0% 1-",/#9% (1% 1-",/#9%
7(1% 40-")+1-% 3")% 0(#9% 6--#% 23"'4/:
(#-,%6$%-,+2"*(1)%")%*3-%'()*%-7A2/-#*%
."$% *(% /#21-")-% 1-",/#9% 2('4-*-#2$5%
;(2"6+0"1$%"#,%21/*/2"0%1-",/#9%)8/00)<
J#/;-1)/*$% (7% &(+*3-1#% K"0/:
7(1#/"% 41(7-))(1% &*-43-#% L1")3-#%
3")% 0(#9% ",;(2"*-,% .3"*% 3-% 2"00)%
M1--% N(0+#*"1$% I-",/#9% OMNIP% (1%
.3"*% '()*% )*+,-#*)% '"$% 8#(.% ")%
&/0-#*% &+)*"/#-,% I-",/#9% O&&IP<
?I-)-"123% )*1(#90$% )+99-)*)%
*3"*% 71--% 1-",/#9% /)% *3-% )(+12-%(7%(+1%
1-",/#9%41(.-))%"#,%'+23%(7%(+1%;(:
2"6+0"1$%"#,%)4-00/#9%,-;-0(4'-#*%")%
.-00% ")% (+1% "6/0/*$% *(% +#,-1)*"#,% )(:
43/)*/2"*-,%431")-)%"#,%.1/*-%2(3-1-#*%
41()-5EL1")3-#%)"/,%/#%"%QRRS%&23((0%
T/61"1$%U(+1#"0%"1*/20-<%?V3-%)-21-*%(7%
/*)% -77-2*/;-#-))% /)% )/'40-W% % 23/0,1-#%
6-2('-% 6-**-1% 1-",-1)% 6$% 1-",/#9<E
M(1% "% )23((05% *3-% #-2-))"1$% -0-:
'-#*)%7(1%*3/)%8/#,%(7%1-",/#9%41(91"'%
"1-%>+/*-%)/'40-5%"22(1,/#9%*(%L1")3-#<
?V3-$%)--'%(6;/(+)%6+*%"1-%1"1-:
0$%41-)-#*W%%OXP%"%91-"*%,-"0%(7%/#*-1-)*:
/#95%2('41-3-#)/60-%1-",/#9%'"*-1/"0Y%
OQP% "% */'-% O"#,% 2('7(1*"60-% 40"2-P%
*(% 1-",Y% OZP% '/#/'+'% "22(+#*"6/0/*$%
O-9<% #(% 1->+/1-,% )+''"1/-)% (1% 6((8%
1-4(1*)P5EL1")3-#% )"/,% /#% "% )4--23%
41-)-#*-,%"*%*3-%[*3%"##+"0%\"#:H)/"#%
K(#7-1-#2-% (#% I-",/#9% /#% QRR]<
L1")3-#% 3")% 2"*"0(9+-,% *3-% -7:
7-2*)% (7% MNI% O&&I% /#% )23((0)P% /#%
3/)% 6((85% ?M1--% N(0+#*"1$% I-",:
/#9<E% % ^-% )+''"1/D-)% )-;-1"0% 2(11-:
0"*/(#"0% )*+,/-)% (7% &&I% *3"*% )3(.-,%
*3"*% )*+,-#*)% .3(% 1-",% '(1-% .1/*-%
6-**-15% )4-00% 6-**-15% 1-",% 7")*-15% 8#(.%
'(1-% "6(+*% )2/-#2-% "#,% )(2/"0% )*+,:
/-)5% 9-*% 6-**-1% 91",-)5"#,% 3";-% '(1-%
41"2*/2"0% 8#(.0-,9-<% % M+1*3-1'(1-5%
3-% ",,)% *3"*% &&I% ",,/*/(#"00$% 6-#:
-A*)% (0,-1% 1-",-1)% 6$% 7"2/0/*"*/#9%
1-0"C"*/(#% "#,% 7"00/#9% ")0--4% "#,%
)0(./#9% '-'(1$% 0())% ")% *3-$% "9-<
H#,% "00% ",;(2"*-)% (7% &&I%
"91--% *3"*%.3"*% /)% 1-",% /)% #(*% #-"10$%
")% /'4(1*"#*% ")% *3-% 1-",/#9% /*)-07<
H22(1,/#9% *(% U"'-)% \"**-1)(#5%
"+*3(1%(7%'"#$%",+0*%"#,%*--#"9-%A2:
*/(#% #(;-0)5% 23/0,1-#% "#,% *--#"9-1)%
)3(+0,%6-%-#2(+1"9-,%*(%1-",%"#$*3/#9%
*3"*% /#*-1-)*)% *3-'<% \"**-1)(#% )"$)%
-;-#% 1-",/#9% 6((8)% (7% )4(1*)% )*"*/):
*/2)%)3(+0,%6-%-#2(+1"9-,%7(1%1-",/#9%
91(.*35%")%0(#9%")%.3"*%/)%6-/#9%1-",%
/*%/#*-1-)*/#9<%H)%.-00%")%*3/)5%T--%)"$)%
*3"*% -;-#% 6((8)% *3"*% "1-% #(*% 2(#)/,:
-1-,%*(%6-%.-00:.1/**-#%)*/00%3";-%'-1/*<
?@% *3/#8% -;-1$(#-% #--,)% *3-/1%
-#*-1*"/#'-#*% 1-",)5E% &"'(% F#9:
0/)3% *-"23-1% K3(#% T--% )"/,<% ?&('-%
4-(40-% 1-",% *3-% ^"10->+/#% 1('"#2-%
#(;-0)5% *3-% V./0/93*% )-1/-)% (1% *3-%
^+#9-1%_"'-)<%V3-$B1-%#(*%9(/#9%*(%
6-% 1-9"1,-,% ")% 91-"*% 20"))/2"0% .(18)%
(7% 0/*-1"*+1-5% 6+*% *3-$B1-% 7+#% *(% 1-",%
"#,% 41(;/,-% "% )(2/"0% (44(1*+#/*$<E
&('-% )*+,-#*)% 3";-%
7(+#,% /*% ,/7A2+0*% *(% 2"1;-% (+*%
*/'-% 7(1% 1-21-"*/(#"0% 1-",/#9<
?`-2"+)-%(7%'$%.(180(",5%@%3";-%
0-))% */'-% *(% 1-",% "0(#-5E% )(43('(1-%
V"$0(1%&"71/*%)"/,<%?V3"*B)%#(*%"%9((,%
*3/#95% 6-2"+)-% 6((8)% "1-% /#*-1-)*/#9%
"#,% "00(.% '-% *(% *3/#8% "6(+*% *3/#9)%
@% #-;-1% .(+0,% 3";-% *3(+93*% "6(+*<E
`+*% "00(2"*/#9% "% )4-2/A2% */'-%
7(1% 1-",/#9% '"$% #(*% 6-% #-2-))"1$<
?H#$(#-% 2"#% *"8-% X[% '/#+*-)%
6-7(1-%6-,% *(% 1-",5EG"08-1% )"/,<% ?a1%
2"11$%"%6((8%./*3%$(+5%"#,%.3-#%$(+%
A#,% $(+1)-07% ./*3% "% )4"1-% '('-#*%
(7% */'-5% 1-",% *3-#<%I-",% (#% *3-% 6+)5%
1-",%.3/0-%."/*/#9%7(1%41"2*/2-%*(%6-:
9/#5% 1-",% 6-7(1-% $(+1%'+)/2% 0-))(#<E
H22(1,/#9% *(% T--5% "% .(10,%
/#% .3/23% -;-1$(#-% /)% .-00:1-",%
.(+0,% 6-% '+23% '(1-% 41-7-1:
"60-% *(% *3-% .(10,% .-% 0/;-% /#% #(.<
?@% *3/#8% .-% .(+0,% 3";-% '(1-%
2('4"))/(#5% @% *3/#8% 4-(40-% .(+0,%
,-;-0(4% '(1-% -'4"*3$% "#,% *1+-% +#:
,-1)*"#,/#95E% T--% )"/,<% ?@% 7--0% 0/8-%
/7%.-%.-1-%"00%'+23%'(1-%.-00:1-",5%
.-% .(+0,% 6-% "% 0(*% '(1-% *(0-1"#*% (7%
(*3-1%4-(40-)B%/,-")%"#,%,/77-1-#2-)<E
! "#$ %&' (!"#$%&'!(")%$*)+
)*+,-./01+.23, - . " / ) % # ' 0 % 1 +
!"#$%&'()*$$+,-)./&(0)"1$,)2(),$3(2"24)56)7"85%&(3)7"%9:");<%=>(?@).AB()*&C)!%&(0236)7&8"0'4)56)D$"32)E"B3
F)"G)26,3(H&9@),$)3("%08&0C)'$)%("2)"02)(0I$68&0C)%("2&0C)J",)0$')(",6)K$%)G()JB(0)F)J",)6$>0C@)5>')'B()*!7)L.AB()*&C)!%&(0236)7&"0'4M)9B"0C(2)"33)'B"'N4
!"#$%&
!"#$%&$'()*+(),-)345%6,&7#8%5"$)9
@
"2+2/42.,54-662 ' 3 ) ! ) ' ! 1
!"#$%&'()*$$+,-).7>0,@)7(%G,)"02)O'((34)56)
P"%(2);N)E&"G$02@).AB()*3>(,')Q6(4)56)A$0&)
;$%%&,$0N4
))R)C%("')5$$+)9"0)2%"J)6$>)&0'$)'J$)J$%32,-)'B()$0()9$0'"&0(2)J&'B8&0)'B()5$$+@)"02)'B()S"%"33(3)$0()9$GS%&,(2)$K)'B()9$GG>0&'6)$K)%("2(%,N4 @
7.-89:/;2<=:1+4!)#'+5".!#6%+3!(("
7!$+!'1
!"#$%&'()*$$+,-).AB()R%')$K)T"%4)56)O>0)A?>@).AB()AB&0C,)AB(6)/"%8%&(24)56)A&G)UV*%&(0
TB(0)F)J",)6$>0C(%@)G6)S"%(0',)G"2()%("2&0C)G"082"'$%6)K$%)G(N)F)2&20V')B"#()"06)$'B(%)$S'&$0,@),$)F)(G5%"9(2)&')J&'B)")S$,&'&#()"''&'>2(N4 @
!-+>-/?-@9=89:*;#%"/)'1&'$!(
!"#$%&'()*$$+,-).T"3+8&0C)J&'B)'B()T&024)56)P$B0)W(J&,@).AB()X0K$%8C&#&0C);&0>'(4)56)/%"&C)
;N);>33"0(6
.F)3$#()'$)%("2)0$0Y98'&$0Z)JB"')$'B(%)S($S3()B"#()(HS(%&(09(2)"02)2$0()J&'B)'B(&%)3&#(,N)F')B(3S,)'$)$S(0)G6)(6(,)'$)JB"')$'B(%,)C$)'B%$>CB)"02)B(3S)%"&,()"J"%(0(,,)"02)(GS"8'B6N4 @
"2+9-6/$:<26-.2,+<(%+'&"=')%&+*)
!"#$%&'()*$$+,-).!$%)TB$G)'B()*(33)A$33,4)56)Q%0(,')[(G&0CJ"6@).TB(0)'B()7"G()O'"02,)A"334)
56)\(&3)["6(,
F)%(G(G5(%)&GG(%,&0C)G6,(3K)&0)5$$+,@)C(''&0C)3$,')&0)'B(G@)G$%(),$)'B"0)G$#&(,N)*(&0C)"53()'$)C$)S3"9(,)#&")'B()5$$+@)"02)3&#&0C)'B"')3&K()'B%$>CB)%("2&0CN4
A-.939,B/C1*.92>1?('#<"@%!&<%)!"#$%&'()*$$+,-).AB()A&C(%V,)T&K(4)56)A]")U5%(B'@)"06'B&0C)56)*&33)*%6,$0)$%)E"#&2)
O(2"%&,
F),S(02)K$>%)B$>%,)")J((+)%("2&0C)K$%)S3("8,>%(N)F)%("2)(#(%6)0&CB')5(K$%()F)C$)'$),3((S)"02)F)2$0V')B"#()")'(3(#&8,&$0)&0)G6)B$>,(N)AB(),"G()J"6)S($S3()J"'9B)A^)'$)%(3"H@)F)%("2N4
$6-+2/A2.,9+: 9 : * ; # %"
, # # ' # + ! 1 +
!"#$%&'()*$$+,-).AB()7&%3)J&'B)'B()E%"C$0)A"''$$4)56)O'&(C)W"%,8,$0@).AB()[(3S4)56)_"'B%60)O'$9+(''
F)3&+()'$)%("2)5(9">,()&')$S(0,)>S)6$>%)S(%8,S(9'&#()'$),$G(5$26)(3,(V,)S$&0')$K)#&(JN)F')'%"0,S$%',)6$>)'$)")2&`(%(0')'&G()"02)S3"9(N4
D2.-+/!23E1.3ABB'&%",##'#+!1+
!"#$%&'()*$$+,-).abcd4)56)7($%C()U%J(33@).7$0()J&'B)'B()T&024)56);"%8C"%(');&'9B(33@)O'(SB(0)
_&0C)\$#(3,
F)3$#()G>%2(%)G6,'(%&(,e)F0)%("3)3&K(@)FV2)S",,)$>')&K)F)B("%2)'B()*8J$%2@)5>')JB(0)FVG)%("28&0C)&')2$(,0V')G"''(%N)F)C('),$),>9+(2)&0N4
"2+2/!9<B9-C%!)3**6">0'+*)9
'197<'%B
!"#$%&'()*$$+,-).P>,');6)A6S(-R)5$$+)R5$>')!$0',4)56)O&G$0)7"%8
Y(32)"02).R)!"%(J(33)'$)R%G,4)56)Q%0(,')[(G8
FVG)%("336)&0'(%(,'(2)&0)'6S$C%"SB6@)"02).P>,');6)A6S(4)3(',)G(),(()B$J)G>9B)J$%+)C$(,)&0'$)(#(%6)J$%2)$0)(#(%6)S"C(N4 @
F2,.9<=/D9+G,-."-$%!6%)"*B"
+<%":*;#%
!"#$%&'()*$$+,-).!&CB')/3>54)56)/B>9+)f"3"B08&>+@)./"'9B(%)&0)'B()D6(4)56)PNEN)O"3&0C(%
R,)3$0C)",)S($S3()"%()%("2&0C)J$%2,)'B(0)'B(6)"%()&GS%$#&0C)'B(&%)3"0C>"C(),+&33,)"02)&089%(",&0C)'B(&%)&0'(33&8C(09(N)F)3&+()'$)%("2)'$),'"6)&0K$%G(2)"02)'$)5()(0'(%'"&0(2N4
:""2;&$2%'<4&;"=- # >&?"$ , )% # $%&'-!"#$%&'()$*'%+,-*#./-,
!"#$%$&'#!"#$!%&'((
) * & !E-Reader ! + ( $ !!" " # ! , & -. / &0&1#2!342,
!"#$%&'()"*
5'67.!8&#*.#,/
+),--%.*()/*
!"#$%&'&()*#+&,#+"-.+&(&"#/+&-0&
1(23(1*&+"(+&+"%2%&/-+"#/4&$#5%&+"%&
1*%$$& -0& +"%& *#$)%,& ,(0+#/4& 02-*&
6(.$5/%271& 8#/+(4%& 9(4%1:& '78%& (9;
92%"%/1#8%$<&4-/%&,#+"&+"%&3"(/4#/4&
,-2$)&+"(+&1.22-./)1&.1=
>"%& .$+#*(+%& )#$%**(& 0-2& (/<&
$#+%2(2<& 3-//-#11%.2?& #1& +"(+& @%8%(2&
A&B-$-"/-815<& +2(/1$(+#-/&-0& C!(2&
(/)&@%(3%D&,-2+"&+"%&$.4E&F2%&G:HII&
9(4%1& -0& 9.2%& 4%/#.1& ,-2+"& ,"(+&
*#4"+&(1&,%$$&J%&G:HII&*#$$#-/&9(4%1&
-0&9(9%2:&-/$<&())#/4&9-./)1&+-&<-.2&
($2%()<&"%(8<&/(9&1(35E
!"%+"%2&<-.&2%()& #/&<-.2&J%):&
-/&+"%&1.J,(<&-2&#/&<-.2&"(**-35&
,#+"&(&4$(11&-0%)&+%(:&92#/+&J--51&
(2%& 1+(2+#/4& +-& J%3-*%& *-2%& (/)&
*-2%& #*92(3+#3($=& F/)& (1& ($,(<1:&
+%3"/-$-4#3($& )%8%$-9%21& (/)& J--5&
*%4(1+-2%1& $#5%&F*(K-/:&L(2/%1&A&
M-J$%& (/)&F99$%& "(8%& +"%#2& N/4%21&
-/& +"%& 9.$1%& -0& +"%#2& )%*-42(9"#3&
(/)&3.$+.2($&%8-$.+#-/=
F1&9(9%2&J--51&J%3-*%&92(3+#;
3($$<&(23"(#3&(/)&O-*&A&@-9&J--5;
1+-2%1&4-&-.+&-0&J.1#/%11:&2%8-$.+#-/;
(2<&)%8#3%1&(2%&2#4"+&+"%2%&+-&9#35&.9&
,"%2%& P-"(//%1& Q.+%/J%24& R+"%& #/;
8%/+-2&-0&+"%&92#/+#/4&92%11S&$%0+&-00=&
>"%&T#/)$%:& +"%&M--5& (/)& +"%& #@()&
$%()&+"%&*(25%+&(1&+"%&+-9&%;2%()%21:&
,#+"& 1-*%& 1*(2+& 9"-/%& .1%21& R,#+"&
(3.+%& %/-.4"& 8#1#-/S& (J$%& +-& 2%()&
*(1+%29#%3%1& -00& -0& +"%#2& +"2%%;#/3"&
132%%/&0-2&-9+#*.*&3-/8%/#%/3%=
P.1+& 9#3+.2%& #+?& <-.& "%(2& +"(+&
1%4*%/+& -/& T@UU& (J-.+& +"(+& /%,&
O#3"(%$&U"(J-/&J--5&(/)&(2%&)<#/4&
+-&)%$8%&#/=&M-,:&)-&<-.&)2#8%&+"%&VW&
J$-351& +-&L(2/%1&A&M-J$%&(/)&,(#+&
#/& $#/%& 0-2& +%/& *#/.+%1& -/$<& +-&
2%(3"&+"%&02-/+&-0&+"%&$#/%&
#/& <-.2& 1,%(+9(/+1& (/)&
0-23%& <-.21%$0& +-& #/+%2(3+&
,#+"&1-*%&1(11<&1+-2%&3$%25E&
X2:& )-& <-.& *(5%& +"%& /-+& #/;
32%)#J$<& 1+%%9& #/8%1+*%/+&
-/&(&M--5&(/)&)-,/$-()&#+&
#/1+(/+$<& (/)& 1+(2+& 2%()#/4&
,#+"#/&*#/.+%1E
!"%/& 1+(35%)& (4(#/1+&
+"%#2& 9(9%2J(35& 92%)%3%1;
1-21:&+"%&3-/1&(2%&)#1*($=&>"%&
%0N3#%/3<:& 9-2+(J#$#+<& (/)& %(1%&
-0&.1%&1%%*&+-&*(5%&+"%1%&)%8#3%1&
,-2+"&+"%#2&,%#4"+&#/&4-$)&R+"-.4"&
+"%#2&*(11&*#32-13-9#3&3-*9(2%)&
+-&+"(+&>-$1+-<&#/&9(9%2S=&@%-9$%&+.2/&
+"%#2&/-1%1&.9&(+&%;J--51&(/)& +"-1%&
,"-&2%()&+"%*=&Y%()#/4&2%()#/4=&
@(<& /-& 2%4(2)& +-& +"-1%& ,"-& Z.)4%&
(/<& -0& <-.2& $#0%1+<$%& 3"-#3%1:& 9(2;
+#3.$(2$<&+"-1%&(1&9%++<&(1&<-.2&2%();
#/4& *%+"-)& -0& 3"-#3%=& L%1#)%1:& #/&
+"%&+#*%&#+&*(<&+(5%&+"%*&+-&4%+&+"%#2&
"(/)1&-/&(&9(9%2&3-9<&-0&C+"%&[./;
4%2&Q(*%1:D&<-.&,#$$& "(8%&J2%%K%)&
+"2-.4"&+"%&N21+&"($0&-/&,"(+&1.2%&
+-&92-8%&#+1%$0&(1&(/&#/32%)#J$<&92(3;
+#3($&(/)&,-2+"<&#/8%1+*%/+=
)*& ! 9.(& ! : 4 # ! -44;(
!"%/&-/%&"%(21& +"%&/(*%&\2=&]%.11:& +"%<& #/%8#+(;
J$<&+2(8%$&J(35&#/&+#*%:&+2(/19-2+#/4&"#*&-2&"%2&J(35&+-&
3"#$)"--)&<%(21=&>"%&3-$-20.$&#*(4%1:&Z(./+<&2"<*%1&(/)&
1#$$<&/-/1%/1%&,-2)1&02-*&"#1&J--51&(2%&2%3-4/#K(J$%&+-&
%8%2<-/%=
'/&*(/<&J--51&\2=&]%.11&,2#+%1:&"-,%8%2:&+"%2%&(&
1#)%&#/8#1#J$%&+-&3"#$)2%/&+"(+&8%2<&9-$#+#3($=&C>"%&U(+&#/&
+"%&[(+D&0-2&%^(*9$%&"(1&(&8(4.%&($$.1#-/&+-&_/3$%&](*&
#/&+"%&$(+%&G`IW1=
>"%-)-2%&]=&Q%#1%$&RJ%++%2&5/-,/&(1&\2=&].%11S&,(1&
J-2/&#/&G`WH&#/&]92#/4N%$)&O(11(3".1%++1&+-&(&Q%2*(/;
#**#42(/+& 0(*#$<=& [%& J%4(/& "#1& 3(2%%2& (1& (/& %)#+-2#($&
3(2+--/#1+:&32%(+#/4&(2+&+"(+&%^92%11%)&"#1&*(/<&9-$#+#3($&
#)%(1=&a^+%/)#/4&"#1&9-$#+#3($&3-**%/+(2<:&*(/<&-0&"#1&
J--51&2%b%3+&1-3#($&(/)&9-$#+#3($&3"(/4%1&-0&"#1&+#*%=&
!"#$% &'()*+& ,(1& 9.J$#1"%)& #/& G`cG&
(/)& )%132#J%1& +"%& )%42()(+#-/& -0& (/& %3-1<1+%*&
J%3(.1%& -0& '/).1+2#($#K(+#-/=& >"%& #)%(& ,(1& #/;
19#2%)& J<& +"%& ,-25& -0& %/8#2-/*%/+($#1+1& $#5%&
Y(3"%$&U(21-/&(/)&O.22(<&L--53"#/:&,"-&1"%)&
$#4"+&-/&+"%.%&).2#/4&+"%&7dW1=&[-,%8%2:&9%-;
9$%& -/$<& 2%3%/+$<& J%4(/& +(5#/4& (3+#-/=& >"-.4"&
L(2;J(;e--+1&(/)&>2.00.$(&+2%%1&2%($$<&)-&/-+&%^;
#1+:&+"%&1+-2<$#/%&-0&2%19%3+#/4&,"#3"%8%2&%3-1<1;
+%*&,%&$#8%&#/:&0(/+(1+#3($&-2&/-+:&)-%1=
!"#$% ,-""$(% ,)""&$% ,''.+& 9-2;
+2(<%)&+"%.%&-0&+"%&L%2$#/&!($$:&,"#3"&1%9(2(+%)&
a(1+&(/)&!%1+&L%2$#/&#/&+"%&G`dW1=&'/&+"%&J--5:&+"%&
f--51& (/)& g--51& (2%& %/%*#%1:& $#8#/4& -/& -99-1#+%&
1#)%1&-0&(&,($$:&(/)&1"(2%&(&$-/4&)#19.+%&-8%2&+"%&,(<&
+"%<&%(+&+"%#2&J.++%2&(/)&J2%()=&'/&+"%&%/):&+"%&3-/b#3+&
$%()1&+"%*&+-&(/&(2*1&2(3%:&8%2<&1#*#$(2&+-&+"%&M.3$%(2&
F2*1&Y(3%&#/&2%$(+#-/&+-&+"%&L%2$#/&!($$=
!"#$% /0$$"1#$/+& ,(1& 9.J$#1"%)&
#/&+"%&G`dW1:&(/)&)%9#3+%)&+"%&2(3#($&#/+-$%2;
(/3%& -0& +"%& +#*%=&>"%& J--5& #/8-$8%1& (& 2(3%&
3($$%)&+"%&]/%%+3"%1:&,"#3"&1%9(2(+%)&#/+-&
+,-& 42-.91?& +"%& 1+(2;J%$$#%)& ]/%%+3"%1& (/)&
+"%&9$(#/;J%$$#%)&]/%%+3"%1=&>"2-.4"-.+& +"%&
J--5:& +"%& 9$(#/;J%$$#%)& ]/%%+3"%1& (2%& )#1;
32#*#/(+%)& (4(#/1+:& 2%*#/#13%/+& -0& +"%& 2(3;
#1*& 92%1%/+& #/& +"%&_/#+%)& ]+(+%1& ).2#/4& +"%&
G`dW1=
!2$("&$% "#$% "-("&$+& ,(1& 9.J;
$#1"%)& #/& G`Ih:& (/)& (++2(3+%)& (& $-+& -0& (++%/+#-/:&
/-+&-/$<&J%3(.1%&#+&,(1&+"%&N21+&J--5&+-&#/3$.)%&
+"%&,-2)&CJ.29D:&J.+&($1-&J%3(.1%&#+&,(1&(/&($$%;
4-2<&0-2&[#+$%271&2.$%&-/&a.2-9%=&f%2+$%&+"%&>.2+$%&
-2)%2%)&*(/<&+.2+$%1&+-&9(#/0.$$<&1+(35&.9&1-&"%&
3-.$)&1+(/)&-/&+-9&(/)&"(8%&(&3$%(2&8#%,&-0&"#1&
5#/4)-*=&6#/($$<:&O(35:& +"%&8%2<&J-++-*& +.2+$%&
J.291:& (/)& 1%/)1& +"%& %/+#2%& 1+(35& b<#/4=&O(35&
2%92%1%/+1&+"%&2%1#1+(/3%&+-&[#+$%271&4-8%2/*%/+=
)*&!<=>&.,&#!?&1&#./641
>"%&*-*%/+&J%0-2%&'&+.2/&+-&+"%&$(1+&
9(4%&-0&(&42%(+&2%()i&+"%&+"#/&)%$#3(+%&9(4%&
8.$/%2(J$<& "%$)& J%+,%%/& *<& N/4%21=& '&
%)4%&*<&0(3%&#/&3$-1%2&+-&+"%&J--5&(1�&'7*&
J%#/4&1.35%)&#/+-&+"%&./#8%21%&-0&+"%&J--5&
#+1%$0=&>"(+&+"%&9.2%&9$%(1.2%&-0&92#/+=&
C'&$-8%&2%($&J--51&J%3(.1%&-0&
+"%&,(<&'&0%%$&,"%/&'&(3+.;
($$<&"(8%&-/%:&"-$);
#/4&(& 2%($&J--5&(/)&
2%()#/4& #+& "(1& 1-*%&
1-2+& -0& ,%#2)& J%(.+#;
0.$& %00%3+& -/& *%:D&
1%/#-2& T-.2+/%<&
O.29"<&1(#)=&
F / - + " % 2&
,-/)%20.$& (19%3+& -0&
9(9%2&J--51&+"(+&<-.&3(/&
,2#+%&($-/4&+"%&*(24#/1=&&F//-;
+(+#-/1&(2%&(&,(<&-0&+2.$<&-,/#/4&
(&J--5:&+"%&#/5&+"(+&,#$$&0-2%8%2&J%&
%/42(8%)&#/1#)%&-0&<-.2&J--5:&(/)&#/&
<-.2&"(/),2#+#/4=& &f%1:&-/&(/&%;J--5&
<-.&3(/&+(9&(&19-+&-/&+"%&9(4%&(/)&+<9%&
#/&2%*#/)%2:&J.+&"-,&$-/4&,#$$&#+&J%&./+#$&
(/-+"%2& %;J--5& 3-*%1& -.+& (/)& <-.&
0-24%+&(J-.+&+"%&92%3#-.1&/-+%1&<-.&
($2%()<&,2-+%E&&F3+.($$<:&,"(+&(J-.+&
,"%/&+"%&%;J--5&<-.72%&2%()#/4&J%;
3-*%1&3-*9$%+%$<&-J1-$%+%E&&>%3"/-$;
-4<& #1& 3-/1+(/+$<& 3"(/4#/4:& (/)& 2%()#/4&
9(9%2&J--51&-/%&+"#/4&+"(+&3-/1+(/+&
(/)&+2()#+#-/($=
C'78%& ($,(<1& $-8%)& +-&,2#+%& #/& +"%&
*(24#/1& (/)& $%(8%&*<1%$0:& (/)& +"%& /% +̂&
2%()%2&$#++$%&/-+%1=&6-2&*%&+"-.4":&#+&,(1&
($,(<1& +"%&)2(,#/41=& '&.1%)& +-:& (/)&1+#$$&
)-& 1-*%+#*%1:& )2(,& $#++$%& #$$.1+2(+#-/1&
(J-.+&,"(+71&4-#/4&-/:&-/&+"%&9(4%=&&'+71&
$#5%&())#/4&<-.2&+"-.4"+1&(/)&%*-+#-/1&+-&
+"%&J--5&2(+"%2&+"(/&Z.1+&2%()#/4&#+:D&1%/#-2&
P(35&O%()&1(#)=&&CF/)&'&5/-,&<-.72%&/-+&
1.99-1%)&+-:&J.+&'&($,(<1&,2#+%&$#++$%&/-+%1&
+-&+"%&/% +̂&2%()%2&#/&+% +̂J--51&(/)&$#J2(2<&
J--51:&$#5%&j"(8%&(&/#3%&)(<7&-2&j<-.&(2%&
$-8%):7&#+1&Z.1+&(&/#3%&+"#/4&+-&)-=D
M-,:&,2#+#/4&0.+.2%&$%++%21&+-&9%-9$%&
-/&+"%&*(24#/1:&1-*%+"#/4&<-.&3(/7+&)-&
-/&(/&%;J--5:&/-2&3(/&<-.&)2(,&9#3+.2%1&+-&
2%*#/)&<-.&-0&<-.2&0(8-2#+%&13%/%=&&f%+:&)%;
19#+%&+"%&/-1+($4#3&)--)$%1&(/)&5#/)&,-2)1:&
(&9-9.$(2&3-/3%2/&0-2&%;2%()%21&+"(+&9(;
9%2&J--51&,#$$&".2+&+"%&%/8#2-/*%/+=&&>"%&
+"%-2<&+"(+&3-**-/$<&9.29-1%)&+"(+:&
.1#/4&(/&%;J--5:&$%11%/1&<-.2&3(2J-/&0--+;
92#/+:&(/)&+"(+&0-2&9(9%2&J--51&<-.&"(8%&+-&
3.+&)-,/&9$%/+<&-0&+2%%1=&&[-,%8%2:&"%2%71&
+"%&3(+3":&,"#3"&-/%&,#$$&%/)&J%#/4&(J$%&
+-&J%&2%3<3$%)&#/&+"%&%/)E&>"(+71&2#4"+k
9(9%2&J--51=&&F$+"-.4"&%;J--51&3(/&$%11%/&
+"%&3(2J-/&,%&2%$%(1%&02-*&92-).3+#-/&-0&
9(9%2&J--51:&#/&+"%&%/)&9(9%2&J--51&3(/&
3-/+#/.($$<&J%&2%.1%)&,"#$%&%;J--51&,#$$&
$#5%$<&%/)&.9&#/&(&$(/)N$$&,(1+%$(/)=&
'/1+%()&-0&+"#/5#/4&-0&+"%&+2%%1&+"(+&
"(8%&J%%/&3.+&)-,/&0-2&+"%&J--5&'&"-$)&#/&
*<&"(/)1:&'&+"#/5&-0&+"%&4#0+&#+71&92-8#)%)&
*%&(/)&"-,&%8%/+.($$<:&+"%&J--5&3(/&J%&
2%3<3$%)&(/)&4-&J(35&+-&+"%&a(2+"=&&L.+&#/&
+"%&*%(/+#*%:&,"%/&'&N/#1"&-/%&J--5:&'7*&
%(2/%1+$<&(,(#+#/4&+-&4%+&*<&"(/)&-/&(/;
-+"%2&+-&0%%$&+"%&1-0+&3-8%2&(/)&5/-,&+"(+&
1--/:&'&,#$$&0($$&#/&$-8%&,#+"&(&1+-2<=&&>"(+&
+"%&%^9%2#%/3%&+"(+&(&2%($&9(9%2&/-8%$&92-;
8#)%1:&(/)&,"(+&*-2%&3-.$)&<-.&(15&0-2E
@A.19.6!36#.-&1B!+),--%.*()/*
!"#$%&'!()*+#!,-.#+ /0(1!*1%'&'!()*+#!,-.#+
C*./!,4!%.A4!(/',&1/(!'('.772!#&.,D 04E!4:/&1!,4!%.A4!(/',&1/(!#&.,D
23!(45*+#!,4)617($(%489:4;<4*=%4<4)'6%(=')4,=4*>>401*%()-4?*'*4.#+@,>(%4"$45*+6(>4A(*+(14*=%4B6>,*4C(1!*1%'-4
!"#$%&'(%"#%)
!"#$$%&'(")'
!"#*+,'-*).%/,%/'012)")3!"#$%&'()(*+$,-($.)/*$0123#/10$)1$
4).-$1"#0#$5-(30$6-/72(#$28$&.)9#0$
-:$)$3201*$3)/;$-%3$ (--.$%&/#3$5&1"$
)$ 5"-%#$ %-1$ -:$ '--;0+$ <-5#=#(>$ :-($
.)/*$ -1"#($ 0123#/10>$ 4).-?0$ %&'()(*$
&0$)$"2'$-:$(#0#)(6"$)/3$%&1#()12(#+
<#)3$@&'()(&)/$A)/)$B)(1CB#%%>$
D00&01)/1$@&'()(&)/$4*3/#*$E()/1$)/3$
@&'()(*$ D00&01)/1$ @-"(#/$ F(&6#$ 8(&C
.)(&%*$(2/$1"#$%&'()(*+
G)/*$ 0123#/10$ 6-.#$ 1-$ 1"#$ %&C
'()(*$ &/$ 0#)(6"$ -:$ (#0-2(6#0$ :-($ (#C
0#)(6"+$!"#*$-:1#/$0##;$-21$'--;0$-($
3)1)')0#0>$ '21$ 0-.#1&.#0$ 1"#$ .-01$
=)%2)'%#$0-2(6#$&0$-/#$-:$&10$%&'()(&)/0+$
B-1"$B)(1CB#%%$)/3$E()/1$)(#$6#(1&H#3$
1#)6"#(0$ )/3$ )%-/9$ 5&1"$ F(&6#$ -:1#/$
"#%8$0123#/10$5&1"$1"#&($(#0#)(6"+
IJ$ "#%8$ 0123#/10$ H/3$ )/3$ 2/C
3#(01)/3$ 1"&/90>K$ E()/1$ 0)&3+$ IJ$ %&;#$
5-(;&/9$ 5&1"$ 0123#/10$ )/3$ "#%8&/9$
1"#.$)66-.8%&0"$1"#&($1)0;0$)/3$1"#&($
%#)(/&/9$)61&=&1�+K
IL#$;/-5$)$ %-1$-:$ )00&9/.#/10$
'-1"$:(-.$)$1()3&1&-/)%$8#(08#61&=#$-:$
5")1?0$ 1)29"1$ )6(-00$ 1"#$ 62((&62%2.$
)/3$ 01)/3)(30$ 1")1$ )(#$ )33(#00#3>K$
B)(1CB#%%$0)&3+$IL#$")=#$)/$&/1#(#01C
&/9$;&/3$-:$5&3#($=$-:$5")1?0$9-C
&/9$ -/$ 62((&62%2.C5&0#$ )(-2/3$ 1"#$
06"--%$ '#6)20#$ 5#$ 0##$ )%%$ 1*8#0$ -:$
;&30+K
D%-/9$ 5&1"$ 9#11&/9$ "#%8$ 5&1"$
(#0#)(6"$ :(-.$ 6#(1&H#3$ 1#)6"#(0>$ )6C
6-(3&/9$ 1-$ F(&6#$ .)/*$ 0123#/10$ 20#$
1"#$%&'()(*$'#6)20#$1"#*$H/3$&1$6-/=#C
/&#/1$-($1"#*$%)6;$6#(1)&/$(#0-2(6#0$)1$
"-.#+
ID$ %-1$ -:$ 0123#/10$ 3-/?1$ ")=#$
6#(1)&/$(#0-2(6#0$1")1$1"#$%&'()(*$")0+$
4123#/10$ 3-/?1$ ")=#$ )$ 6-.821#($ -($
")=#$ )$ 6-.821#($ '21$ /-1$ )$ 8(&/1#(>K$
F(&6#$0)&3+$IL&1"$1"#$%&'()(*$0123#/10$
3-/?1$")=#$1-$5)&1$1&%%$1"#*$9#1$"-.#+$
4-.#$ 0123#/10$ 8%)*$ 08-(10$ )/3$ 9#1$
"-.#$%)1#>$'21$1"#$%&'()(*$&0$(&9"1$"#(#$
)/3$")0$#=#(*1"&/9$1"#*$/##3>$0-$1"#*$
6)/$ 9#1$ &1$ 3-/#$ )1$ 06"--%$ )/3$ ")=#$
1&.#$:-($1"#&($-1"#($)61&=&1�+K
B)(1CB#%%$ )%0-$ 0)&3$ 1")1$ 8)(1$ -:$
"#($7-'$)0$%&'()(&)/$&/6%23#0$1#)6"&/9$
1"#$0123#/10$5"-$6-.#$1-$"#($1"#$'#01$
5)*0$1-$H/3$&/:-(.)1&-/$&/$9#/#()%+
I!"#$ 0;&%%0$ J?.$ 6-/6#(/#3$ 1")1$
;&30$9#1$)(#$/-1$ 7201$)66#00&/9$ &/:-(C
.)1&-/>$ '21$ ;/-5&/9$ 5")1$ )(#$ 1"#$
1--%0$ )/3$5"#/$ 1-$ 20#$5"&6"$ 1--%+$ J$
5)/1$0123#/10$ 1-$82%%$')6;$)/3$ 1"&/;$
&/$ 1#(.0$ -:$ )/*$ 1&.#$ 1"#&($ 9#11&/9$ )$
(#0-2(6#$ &/$ )$ %)(9#($ 5)*>K$ B)(1CB#%%$
0)&3+$ IL")1$ J$ 1#%%$ ;&30$ &/$ ,(#0".#/$
4#.&/)($ &0>$ )(#$ *-2$ 9-&/9$ 1-$ 6-.#$
)0;$ .#$ 5"#(#$ 1"#$ '#01$ 8)(1�$ )(#+$
M->$*-2?(#$/-1$9-&/9$1-$6-.#$)0;$.#>$
*-2?(#$9-&/9$1-$)0;$*-2($8##(+$J1?0$)%%$
)'-21$9#11&/9$&/:-(.)1&-/$)/3$"#%8&/9$
;&30$#=)%2)1#$1"#$N2&3&1*$-:$&/:-(.)C
1&-/>$&:$&1?0$9--3$:-($&10$82(8-0#+K
D66-(3&/9$ 1-$ B)(1CB#%%>$ 1"#$ %&C
'()(*$6)/$)%0-$8(-=&3#$ 0123#/10$5&1"$
8"*0&6)%$(#0-2(6#0$'#*-/3$'--;0+
I4-.#1&.#0$)$;&3$/##30$ 1-$'-(C
(-5$ )$ 6).#()>$ -($ 1"#*$.&9"1$ /##3$ )$
G)6$)3)81#(>$)/3$5#$.)*$-($.)*$/-1$
")=#$ 1")1+$ L#$ 1(*$ 1-$ "#%8$ H%%$ 1"-0#$
/##30$1")1$01-8$;&30$:(-.$'#&/9$:2%%*$
0266#00:2%>K$B)(1CB#%%$0)&3+$IL&%%$H/3$
)$5)*$1-$"#%8$0123#/10$8(-62(#$012::>$
)/3$1"#/$5#$")=#$()/3-.$1"&/90$%&;#$
8-01#(C'-)(30$ )/3$.&06#%%)/#-20$ )2C
1"-($0288%�+K
O=#/$5&1"$ )%%$ 1"#$ (#0-2(6#0$ 1"#$ !"#$%#"&'(#!$%)(*+,)%
%&'()(*$ ")0$ 1-$ -::#(>$ &10$ 01)::$ &0$ 01&%%$
)3).)/1$ )'-21$ #=#/$ .-(#$ &.8(-=#C
.#/10+$
D66-(3&/9$1-$F(&6#>$-/#$5)*$1"#$
%&'()(*$&0$1(*&/9$1-$3-$1")1$/-5$&0$'*$
-'1)&/&/9$.-(#$6-.821#(0+
IJ$ 1"&/;$ 1"#$ %&'()(*$ (&9"1$ /-5$
/##30$.-(#$6-.821#(0>$'#6)20#$/-5$
5#$")=#$8(-')'%*$#/-29"$:-($")%:$1-$
1"(##$P2)(1#(0$-:$)$6%)00+$L#$5)/1$1-$
'#$)'%#$ 1-$")=#$)$:2%%$6%)00$5&1"$-/#$
8#(0-/$ 1-$ )$ 6-.821#(>K$ F(&6#$ 0)&3+$
IL#?=#$'##/$1(*&/9$1-$9#1$6-.821#(0$
:-($)$6-28%#$-:$*#)(0$/-5+$L#$/-1$-/%*$
5)/1$.-(#>$'21$.-(#$28$1-$3)1#$-/#0>$
'#6)20#$(&9"1$/-5$)$%-1$-:$1"#$6-.821C
#(0$5#$")=#$'(#);$3-5/>$ 0-$5#$ :(#C
P2#/1%*$")=#$1-$9#1$1"#.$0#(=&6#3$)/3$
1"#/$5#?(#$3-5/$)$6-.821#(+K
D66-(3&/9$ 1-$ F(&6#>$ -/#$ -:$ 1"#$
1"&/90$1")1$.);#$1"#$%&'()(*$0-$08#6&)%$
3#08&1#$)%%$-:$&10$H/)/6&)%$")/3&6)80$&0$
&10$:(&#/3%*$#/=&(-/.#/1+
IG0+$ B)(1CB#%%$ (2/0$ 1"#$ %&'()(*$
5&1"$)$=#(*$%)&3$')6;$)1.-08"#(#+$4"#$
.);#0$ #=#(*-/#$5"-$ 6-.#0$ &/$ "#(#$
:##%$%&;#$1"#*$6)/$)0;$20$)/*1"&/9+$J1?0$
/-1$ *-2($ 1*8&6)%>$ 028#($ 01(&61>$ P2$
%&'()(*>K$F(&6#$ 0)&3+$ ID0$ %-/9$)0$ 012C
3#/10$ )(#$ /-1$ 1--$ (-53*$ )/3$ 6()Q*>$
1"#*$6)/$;##8$ 1-$ 1"#.0#%=#0+$ J$ 1"&/;$
1"#$ 0123#/10$ )/3$ 01)::$ :##%$ %&;#$ 1"#*$
")=#$#)0*$)66#00$1-$-2($(#0-2(6#0+K
4' &*.' *5' ,.$6%/.,' 6*/+.' 7"8%' 9%)."1/' )%:
,*$)9%,'.7".'.7%'&12)")3'7",;'<7%'&12)")3'1,'
)1=7.'7%)%'"/6'7",'%8%)3.71/='.7%3'/%%6>'
,*' .7%3' 9"/' =%.' 1.' 6*/%' ".' ,97**&' "/6'
7"8%'.1#%'5*)'.7%1)'*.7%)'"9.181.1%,;
?'0*7)%/'@)19%>'012)")3'4,,1,."/.
-AB:<CD(!E'F'";#;'?'G'H;#;
I(JE'F'";#;'?'K'H;#;
@)*L$%,.
M"&%B%.'N"."2",%
O*)&6'P**Q
R$&.$)%'M)"#,
<%%/'C%"&.7'"/6'O%&&:
/%,,
!"#$%$&'()*$+,
-%.%#%+/+'01%"2%#2/,
32"45+'.)'.6/+/'7%.%#%+/+'8%4'
#/'9)*47'%.'
+%:)6";+::*+7;)$<=2"#$%$&>
!"#$%$&'?))5'@"85+,
S<7%'C$/=%)'M"#%,T'!%)1%,'23'
!$U"//%'R*&&1/,
S4'R71&6'R"&&%6'VJ.+E'A/%'R71&6+,'
R*$)"=%'.*'!$)818%T'23'N"8%'
@%&U%)'
S<7%'R)"/QT'!%)1%,'23'W&&%/'
C*HQ1/,
!"#$%$&%' !!()*+,(-.(!"#$%&$'()*+(),-)
Sta!: Amancai Biraben, Gregory
Boehm, Sam Boloorchi, Molly Chaikin,
Hilary Dubin, Julia Ger-hardt, Alison Guh, Max
Gumbel, Lillian Kalish, Mia Lopez-Zubiri, Sintra Mar-
tins, Jones Pitsker, Samuel Reamer, Reva Santo, Mad-elyn Shaughnessy, Chase
Wohrle
!e Samohi is a biweekly newspaper by, for and about Santa Monica High students. Our goal is to empower the student
body through information. We do not represent the views of the administration or sta!. We do not endorse advertisements
placed in our paper.
Opinion Editor:Nadine Melamed
A&E Editor:Joe Colajezzi
News Editor:Eloise Graham
Campus News Editor:McKenna Jensen
Feature Editor:Olivia Legan
Photo Editor:Nicholas Zarchen
Copy Editors:Alice Kors
Henry Boyd
Managing Editor:Rebecca Asoulin
Editor-in-Chief:Taylor D’Andrea
Sports Editors: Chelsea Brandwein
Adrianna Dinolfo
Faculty Adviser:Kathleen Faas
Online Editor:Lily Cain
Sta! Artist:Alison Guh
!"#$"%&'"%(")*%+'"*',-,'++,."
#$/0)0%1+" +)12'&)+" 3*%" 3%1,2"
4#)*'4"5%")%"/'2"#)"(%14"#6$6"#&2"
5')" 0&)%"$." 24'#$" 7%,,'5'" )*#&"
#7)1#,,." *#8'" #" 9).-07#,:" ,#02"
/#7;"*05*"+7*%%,",0('6"<%"$#))'4"
*%3"$#&." )0$'+"-'%-,'" #))'$-)"
)%"-'4+1#2'"$'"%)*'430+'="!"7%&>
)0&1'"2%55'2,."%&"$."-#)*6
?%" 0)" 7#$'" #+" #&" 1&-,'#+>
#&)" +14-40+'" 3*'&" !" (%1&2" %1)"
)*#)"&'@)".'#4A+"0&7%$0&5"+%-*%>
$%4'+" 3%1,2" /'" )*'" (04+)" )%" /'"
%(('4'2" #&"B28#&7'2" C,#7'$'&)"
DBCE" F14%-'#&" G0+)%4." 7,#++6"
H&)0," &%3=" $." (',,%3" ?#$%"
+%-*%$%4'+"#&2"!"*#8'"&%)"/''&"
#/,'" )%" )#;'" #&"BC" 7,#++" 2140&5"
)*'" +7*%%," .'#4" 30)*%1)" -4'80>
%1+,." )#;0&5"#"+1$$'4"7%14+'6" !"
*#2" $0@'2" ('',0&5+" #/%1)" $0++>
0&5"%1)"%&"+17*"#"8#,1#/,'"#220>
)0%&")%"$.")4#&+740-)"/."%&,."%&'"
.'#4="#&2"#+"#"7%$-')0)08'="+%%&>
)%>/'" BC>$%&5'4=" !" &#)14#,,."
)40'2" )%" )*0&;" %(" #,," )*'" 4'#+%&+"
3*." )*0+" &'3" %-)0%&" (%4" +%-*%>
$%4'+"*#2")%"/'"#")'440/,'"02'#6
B)" (04+)=" !" +#3" )*'" +0)1#)0%&"
&'#4>+05*)'2,.6" !" /',0'8'2" )*#)"
+%-*%$%4'".'#4"+*%1,2"/'"#")0$'"
)%"'@-,%4'"%-)0%&+"(%4")*'"(1)14'="
&%)"#".'#4"%("/'0&5"-4'++14'2"0&)%"
)#;0&5" 405%4%1+" BC" 7,#++'+" %&'"
$#."&%)"&'7'++#40,."/'"0&)'4'+)'2"
0&6" B77%420&5" )%" 9I*'" J#+*0&5>
)%&" C%+):" #" K%,,'5'" L%#42" %((0>
70#,"+#02")*#)"(08'"BC"7%14+'+"0&"#"
*05*" +7*%%," 7#4''4"3#+" -,'&)." )%"
4%1&2"%(("#"+177'++(1,"#--,07#&)6"
G%3'8'4=" +)12'&)+" 3*%" /'>
50&" )%" )#;'"BC+" +%" '#4,." 0&" )*'04"
*05*"+7*%%,"7#4''4+"#4'"%/80%1+,."
#$/0)0%1+" #&2" 0)" 0+" ,%507#," )%" #+>
+1$'" )*'." 30,," )#;'" $%4'" )*#&"
)*'" 4'7%$$'&2'2" 2%+'" %("BC+6" !"
('#4")*#)")*'+'"+)12'&)+"7#&&%)"/'"
20++1#2'2"/."'8'&"'@-'4)"7,#0$+="
#&2" (1','2" /." )*'" ('#4" %(" /'0&5"
,'()"/'*0&2"30,,"-#7;")*'04"+7*'2>
1,'+"30)*"BC"7,#++'+6"
?17*" 2408'&" +)12'&)+" #4'"
1/0M10)%1+="3*07*"$'#&+" )*#)"%(>
('40&5"BC" F14%-'#&"G0+)%4."30,,"
N1+)" 4'+1,)" 0&" #&%)*'4" 7,#++" )*'."
3%1,2"&''2")%"+)4'++"#/%1)6"O#&."
+7*%%,+=" ,0;'" ?#&)#" O%&07#" -40>
8#)'" +7*%%," K4%++4%#2+" ?7*%%,"
(%4"B4)+"#&2"?70'&7'+="*#8'"7%$>
/#)'2")*'"&%4$#,"*05*"+7*%%,"#7#>
2'$07"-4'++14'"/."',0$0&#)0&5"BC"
7%14+'+" 7%$-,')',.6" !&" ,05*)" %("
)*0+="0("?#$%"0+"2%0&5"#&.)*0&5")%"
#8#0,#/,'" 7,#++'+=" +*%1,2&A)" )*'."
/'",'++'&0&5")*'"BC"+)4'++P
Q(('40&5" %&,." %&'" BC" 7,#++"
(%4" +%-*%$%4'+" #,+%" 7#1+'+" #&>
%)*'4" 20,'$$#6" I*%+'" *05*>
#7*0'80&5="!8.>/%1&2"$#)*'$#)0>
70#&+" #&2" +70'&)0+)+" 3*%" +0$-,."
#4'"&%)"54'#)"#)"F14%-'#&"*0+)%4."
#4'" +)17;R" )*'." 3#&)" )%" 0$-4'++"
7%,,'5'+" 30)*" 405%4%1+" 7%14+'>
3%4;="/1)")*'"$%+)"405%4%1+"7,#++"
)*'." 7#&" )#;'" )*#)" .'#4" 0+" 0&" #"
3'#;"+1/N'7)6"!(")*'"+7*%%,"0+"5%>
0&5" )%" %(('4"BC+" )%" +%-*%$%4'+="
+*%1,2&A)" )*'4'" /'" #" (#04" +.+)'$"
3*'4'" +)12'&)+" 7#&" )#;'" )*'" BC"
7,#++'+")*'."3#&)")%")#;'P
F8'&)1#,,."!"4'#,0S'2")*#)"$."
%22" N'#,%1+." %(" )*'" %--%4)1&0)."
)%" )#;'"BC"F14%-'#&"G0+)%4."*#2"
/,0&2'2"$'")%"#,,")*'"5%%2")*0&5+"
#/%1)")*'"&'3"7%14+'6
J0)*"#"*05*" +7*%%,"-,#&" )*#)"
+''$+")%"4'8%,8'"#4%1&2"#"+)4'++>
(1," N1&0%4" .'#4=" )#;0&5" #&" BC"
7%14+'" +%-*%$%4'" .'#4" 3%1,2"
&%)" %&,." /#,#&7'" %1)" )*'" +)4'++"
/')3''&" )*'" )3%" .'#4+=" /1)" #,+%"
-4'-#4'" +%-*%$%4'+" (%4" )*'" BC>
(0,,'2" .'#4" )*#)" %()'&" (%,,%3+6"
<'8'4" *#80&5" )#;'&" #&"BC" 7,#++"
/'(%4'=" !" #$"'&)'40&5" N1&0%4".'#4"
30)*" ,0)),'" ;&%3,'25'" %(" *%3"
$17*"3%4;")*'+'"7%14+'+"4'M104'6
I*'" +%-*%$%4'+" 3*%" )#;'"
#&" BC" /'(%4'" N1&0%4" .'#4" 30,,"
;&%3" 3*#)" 0+" '@-'7)'2" %(" )*'$"
0&" )*'" .'#4" )*#)" #451#/,." 7%1&)+"
)*'"$%+)"%&"7%,,'5'"#--,07#)0%&+6"
I*%15*"!"#$"2'(0&0)',."N'#,%1+"%("
)*'"-4'-#4#)0%&"&'@)".'#4A+"+%-*>
%$%4'+" 30,," *#8'=" )*'" (#7)" )*#)"
)*'."30,," 5')" )%" )#;'" #" F14%-'#&"
BC"'@-%+14'T")*'"'#4,0'4")*'"/'))'4P
!"#$%&'()*
!"#$$%&'(")'
Special Report Editor:Aliza Abarbanel
*0+)%4." 7,#++" +%1&2+" 4#)*'4" #3'>
+%$'6"
O#./'" +%$'2#.=" #" /'#1)0>
(1," 3%4,2" 30,," '$'45'" 3*'4'" )*'"
&1$/'4" %("BC" 7,#++'+" %&" #" *05*"
+7*%%," +)12'&)A+" +7*'21,'" 0+" &%)"
54'#)'4" )*#&" )*'"&1$/'4"%("*%14+"
%(" +,''-" )*'." 5')" 0&" #&" #8'4#5'"
&05*)6"
UHV!"WBJB?G!OBX"!"#$%&'($"%
!"#!$%&'()%*+!,)-./,!
!"#$%&'"!($)*+"*%*,#-"<'@)".'#4A+"?#$%"+%-*%$%4'+"30,,"/'"#/,'")%")#;'"BC"F14%-'#&"G0+>
)%4."#+"#&"#,)'4&#)08'")%")*'"7144'&)"J%4,2"G0+)%4."7,#++6"
!!!"#$%&'( ! !!!!!"#$%!&'
!!!!!!!!"#$%&'%(!)*+!),-)
!"#$%!&#'()*&#++!),-'!*.)/0!'122)''31+!')#'%,'40)5')#'%,!*.#*!-/-,6*!#33)2*!)/*.)0!*.)/0!
+)#71)!')#'%,!%0!89:!0#,(/,7;
<22%0-/,7!*%!=)0-17%>!*.)!7/0+'6!
?#0'/*@!&#'()*&#++!*)#$!'*#0*)-!
*.)/0!@)#0!A/*.!%,+@!*.0))!
7/0+'! A/*.! ?#0'/*@!
)B4)0/),2);! C)5
2#1')!%3!*./'>!*.)!
40)5')#'%,! A#'! #!
*/$)! 3%0! 70%A*.!
#,-!+)#0,/,7!)#2.!
%*.)06'!'*0),7*.';
DE.)! 40)5
')#'%,! +)-! *%!
A.)0)! A)! #0)! #*!
0/7.*! ,%A>F! =)05
-17%! '#/-;! D9! *%+-!
*.)!*)#$!*.#*!9!.#-!
,%! )B4)2*#*/%,'!
#*! *.)! &)7/,,/,7;! 9!
2%1+-,6*!&)!/,!#!01'.!/,!
3%0!0)'1+*'G!*.)!40)5')#'%,!A#'!
A.)0)!A)!)'*#&+/'.)-!A.%!A)!A)0)!
7%/,7!*%!&)!#,-!.%A!A)!A)0)!7%/,7!*%!
-%!/*;F
H%++%A#@!'#@'!*.#*!.)0!7%#+!3%0!*.)!
*)#$!A#'!*%!)B2))-!)?)0@%,)6'!)B4)2*#5
*/%,'!%,!.%A!A)++!*.)@!A%1+-!4)03%0$!
*.0%17.%1*!*.)/0!')#'%,;
DI#,@! 4)%4+)! A)0)! J1)'*/%,5
/,7! A.)*.)0! A)! A)0)! 7%/,7! *%! -%! #'!
A)++!#'! +#'*! ')#'%,>! '%! /*!$%*/?#*)-!1'!
*%!40%?)!*.)$!A0%,7>F!H%++%A#@!'#/-;!
DK)!-/-,6*!A/,!#++!%3!%10!7#$)'>!&1*!A)!
,)?)0!7#?)!14!#,-!,%A!*.)@!2.))0)-!3%0!
1'!-10/,7!4+#@5%33';F
"),/%0! 4%/,*! 71#0-! #,-! 2#4*#/,!
L#/7)! M,%@1)! '#@'! *.#*! -)'4/*)! *.)!
*)#$! ,%*! A/,,/,7! +)#71)>! *.)! ')#'%,!
A#'!70)#*!/,!%*.)0!A#@';
DN)2%0-5A/')!A)!-/-,6*!-%!#'!A)++!
*./'!')#'%,>!&1*!)B4)0/),2)5A/')!/*!A#'!
#! +%*! &)**)0;!E./'! @)#0!A#'! #! +%*!$%0)!
),O%@#&+)!*.#,!4#'*!%,)'>F!M,%@1)!'#/-;
H#?/,7! &)),! %,! *.)! &#'()*&#++!
*)#$!#++!3%10!@)#0'!#*!"#$%>!I)2.+%A5
/*P!'#@'!*.#*!/*!A/++!&)!.#0-!+)#?/,7!.)0!
30/),-'!&)./,-!A.),!'.)!70#-1#*)';
D96?)! &)),! 4+#@/,7!A/*.! '%$)!%3!
*.)! %*.)0! 7/0+'! '/,2)! &)3%0)! 9! A#'! %,!
*.)!"#$%!*)#$>!'%!/*!A/++!&)!'#-!*%!'#@!
7%%-&@)>F!I)2.+%A/*P!'#/-;
E.)!'),/%0'!A%,6*!&)!*.)!%,+@!%,)'!
+)#?/,7! *.)!&#'()*&#++! *)#$!#*! *.)!),-!
%3!*./'!')#'%,;!=)0-17%!A/++!&)!+)#?/,7!
"#$%!#3*)0!,/,)!@)#0'!%3!2%#2./,7;
!DE./'!A#'!#!'122)''31+!')#'%,!3%0!
'%!$#,@!0)#'%,'!%*.)0!*.#,!A/,,/,7!%0!
+%'/,7>F!=)0-17%! '#/-;! D! 96$!40%1-!%3!
A.#*! A)6?)! #22%$4+/'.)-;! M10! *)#$!
'*#0*)-!%33!,%*!(,%A/,7!)#2.!%*.)0!#,-!
,%A!A)!#0)! #! 3#$/+@! 2#4#&+)!%3!70)#*!
*./,7';F
<+*.%17.!
*.)! &%@'6! &#'5
()*&#++! ')#'%,!
/'! 2%$/,7! *%! #,!
),-! #3*)0! 3%10!
$%,*.'>! *.)/0!
),*/0)! +)#71)!
')#'%,! .#'! &)),!
&1/+-/,7! 14! 3%0!
*./'!$%$),*;!Q%*!
%,+@! /'! *.)! *)#$!
0#,()-!R0'*!/,!+)#71)>!
89:! /'! O1'*! ,%A! &)7/,,/,7;!
E.0%17.%1*! *.)! ')#'%,>! *.)! *)#$!
.%+-'!#!0)2%0-!%3!ST5T>!#0)!2.#$4/%,'!
%3! *.)!M2)#,!U)#71)>!#,-!V*.! /,! *.)/0!
89:!-/?/'/%,!%3!WX!*)#$';
I#,@! %3! *.)! *)#$! $)$&)0'! #0)!
#+'%!/,?%+?)-!/,!2+1&!&#'()*&#++>!A./2.!
.)+4)-! *.)$!())4! /,! '.#4)! &)3%0)! *.)!
')#'%,! '*#0*)-;! H%A)?)0>! *.)@! #+'%!
*0#/,)-!#'!#!*)#$;
DK)!0#,!%,!*.)!&)#2.>!"#,*#!I%,5
/2#!"*#/0'!#,-!*.)!Y0))('>!#,-!A)!+/3*)-!
A)/7.*'>F! 2#4*#/,!E0)?/'! Z#2('%,! '#/-;!
M*.)0A/')>! /*!A#'!&#'/2#++@! #++! &#'()*5
&#++;F
[?),!#*!*.)!&)7/,,/,7!%3!*.)!')#5
'%,>!*.)!*)#$!3)+*!*.#*!*.)@!A%1+-!'125
2))-! *./'! ')#'%,>! )'4)2/#++@! A/*.! *.)!
71/-#,2)!%3!0)*10,/,7!4+#@)0';
DK)60)!-/33)0),*!*./'!@)#0!&)2#1')!
A)!.#?)!7%**),!$%0)!)B4)0/),2)!1,-)0!
%10!&)+*>F! O1,/%0!"4),2)0!80#$)0!'#/-;!
DU#'*!@)#0>!$%'*!%3!1'!A)0)!)/*.)0!'%4.5
%$%0)'!%0!O1,/%0'!A/*.!$#@&)!%,)!@)#0!
%3!?#0'/*@!)B4)0/),2)>!'%!9!*./,(!A)!.#?)!
&)),!#&+)!*%!+)#0,!30%$!%10!4#'*!)B4)0/5
),2)'!#,-!$/'*#()'!#,-!1')!*.#*!)B4)0/5
),2)!*%!A/,!$%0)!7#$)'!*./'!@)#0;F
E.)! *)#$>! .%A)?)0>! -/-,6*! O1'*!
0)+@!%,!)B4)0/),2)-!4+#@)0'!*%!'122))-;!
E.)! 4+#@)0'! .#-! #! 2%,'*#,*! -0/?)! *%!
0)#2.!4)03)2*/%,>!#,-!*.)@!-/-!A.#*)?)0!
/*!*%%(!*%!0)#2.!/*;
DK)6?)!&)),!40#2*/2/,7!'/,2)! *.)!
'1$$)0>! 30%$! +#'*! @)#0! *%! ,%A>! #,-!
#++!A/,*)0!.%+/-#@';!K)!-)-/2#*)-!#!+%*!
%3! */$)! *%! %10! 4+#@/,7>F! '),/%0! E0)@!
E.%$4'%,!'#/-;
<22%0-/,7! *%! Z#2('%,>! $#,@! %3!
*.)!4+#@)0'!.#?)!(,%A,!)#2.!%*.)0!3%0!
#!+%,7!*/$)>!A./2.!&0/,7'!#!'#3)!#,-!3#5
$/+/#0!?/&)!*%!*.)/0!4+#@/,7;
D\,%A/,7! *.)$! %,! '12.! #! 4)05
'%,#+!+)?)+!.)+4'!1'!(,%A!*.#*!A)!.#?)!
)#2.!%*.)0'6!('>F!Z#2('%,!'#/-;
Y/0+'6! &#'()*&#++! &)7#,! *.)/0! ')#5
'%,!A/*.!$#,@!)B4)2*#*/%,'!*%!+/?)!14!
*%;! ])'4/*)! ),-/,7! A/*.! #! $)-/%20)!
+)#71)!0)2%0-!%3!^5W>!*.)!*)#$!R,/'.)-!
*.)/0!+)#71)!')#'%,!A/*.!40/-)>!#,-!&)5
7#,!40)4#0#*/%,!3%0!89:;!M,!"#*;>!:)&;!
ST>!*.)!*)#$!$%?)-!%,!*%!89:!4+#@%33'!
A.)0)!*.)@!2%$4)*)-!/,!*.)!S<<!0#,(5
/,7>!*.)!./7.)'*!%3!*.)!89:!&0#2()*'>!&1*!
+%'*!*.)/0!R0'*!7#$)!_W5`W!#7#/,'*!C1)5
,#!H/7.!"2.%%+;
<3*)0!+%'/,7!"#*10-#@6'!7#$)>!*.)!
7/0+'6!&#'()*&#++!*)#$!.#'!&)),!)+/$/,#*5
)-!30%$!89:!#3*)0!*.)!R0'*!0%1,->!),-/,7!
*.)/0!')#'%,!)#0+/)0!*.#,!)B4)2*)-
DE.)!A.%+)!7#$)!A#'!2+%');!K)!
2#17.*! 14>! *.),! *.)@!A%1+-! '2%0)! #,-!
A)!A%1+-! '2%0);! E.),! /*! */)->F! '),/%0!
71#0-!#,-!2#4*#/,!<,/)')!L#+$%0)!'#/-;!
D<*! *.)! ),-!A)!()4*! 3%1+/,7!#,-! *.)@!
A)0)!/,!&%,1'!'%!*.)@!A),*!*%!*.)!30))!
*.0%A! +/,);!E.)@! ()4*! 7)**/,7! #++! *.)/0!
'.%*';!K)!A)0),6*!7)**/,7!*%!*.)!%44%5
,),*'!3#'*!),%17.;F
<+*.%17.! *.)@! 1+*/$#*)+@! +%'*>!
8%#2.! I#0*@! =)0-17%! /'! '*/++! .#44@!
A/*.!*.)!')#'%,;
D9*!2#$)!-%A,! *%! *.)!%*.)0! *)#$!
$#(/,7! $%0)! '.%*'>F! =)0-17%! '#/-;!
DC%*.!*)#$'!A)0)!0)#++@!A)++!$#*2.)-!
&1*! *.)@!.#-! #! .%$)!#-?#,*#7);!H%A!
3#0!A)!2#$)!#'!#!1,/*!A#'!*.)!&)'*!%3!#,@!
%*.)0!@)#0!#,-!9!2%,'/-)0!/*!'122)'31++;F
"),/%0! 3%0A#0-! #,-! *)#$! 2#4*#/,!
9$#,/!H%++%A#@!-%)'!,%*!&)+/)?)!*.)/0!
+%''!/'!-1)!*%!+#2(!%3!),)07@;!
D9*! A#'! #! *%17.! +%''! &1*! #! 70)#*!
7#$);!<++!%10!.)#-'!A)0)!/,! *.)!'#$)!
4+#2)!#,-!A)!A#,*)-!*%!A/,>F!H%++%A#@!
'#/-;!
])'4/*)! .#?/,7! ')?)0#+! +)#71)!
A/,'! 40/%0! *%!89:>! '),/%0! 3%0A#0-! #,-!
2),*)0!I%0/#.!I)2.+%A/*P!'#/-!*.)!*)#$!
-/-,6*! #+A#@'! $))*! *.)! 4)03%0$#,2)!
'*#,-#0-'!*.)@!')*!3%0!*.)$')+?)';!9,!*.)!
Xaab5XaSa!'2.%%+!@)#0>!7/0+'6!&#'()*&#++!
A%,!*.)!89:!2.#$4/%,'./4;
DK)! '*#0*)-! %33! #! +/**+)! 01'*@>! &1*!
A)! A)0)! )?),*1#++@! 0)#-@! 3%0! +)#71)!
#,-!)?)0@*./,7!*10,)-!%1*!A)++>F!I)2.5
+%A/*P!'#/-;!DK)!A%0()-!?)0@!.#0-!&%*.!
/,-/?/-1#++@! #,-! #'! #! *)#$! *%! &)2%$)!
&)**)0;F
E.)!*)#$6'!40)5')#'%,!40)4#0#*/%,!
2%,'/'*)-!%3!@%7#>!&)#2.!A%0(%1*'!#,-!
*0/5A))(+@! &#'()*&#++! 40#2*/2)'! *%! .)+4!
40)4#0)! 3%0! *.)/0! +)#71)! 7#$)';! E.)!
*)#$!#+'%!4+#@)-!ST!7#$)'!-10/,7!*.)/0!
Y/0+'6 C%@'6)*+,-$#./0123*%*!"#$$%&'(")'
45+67+*,8*%+0
3.6!"#$$%&'(")'
#*('#*)+,"-).#/0-(120//304)556*('(,"-).#/0-(120/
!"#$!#%&'(!"#$%&'!(&'%)*!(#+*,&-%./!0##12!.*#!3),,!4'&5!)!6#4#$6#'!3#4&'#!)!1)22!%$!
)!7)5#!)7)%$2.!8#9#',:!;%,,2!&$!<#3=!>=!
Q98HMU<"!c<N8H[Qd!!"#$%&'(")
%)*$)&"(#?@$%&'!A'#9%2!?)+02&$!6'%33,#2!.*#!3),,!)$6!1'#1)'#2!.&!2*&&.!).!")5&B2!
C'2.!DE<!7)5#!)7)%$2.!F&&2#9#,.!;%7*!"+*&&,!&$!<#3=!GH=!
Q98HMU<"!c<N8H[Qd!!"#$%&'(")
E.)!*)#$!.#'!0)#2*)-!A)++!*.0%17.!
$#,@! 40)''10)-! '/*1#*/%,'>! A./2.! .#'!
7%**),!*.)$!*%!4+#@%33';
D8%#2.!H)2.*! #+A#@'! *)++'! 1'! *%!
*#()! /*! e%,)! 7#$)! #*! #! */$)>F! Z#2('%,!
'#/-;!D93!A)60)!%,+@!*./,(/,7!#&%1*!4+#@5
%33'>!A)!$/7.*!$/''!'%$)*./,7!/$4%05
*#,*!%,!*.)!A#@;F
E.0%17.%1*! *.)! ')#'%,! *.)! *)#$!
4+#@)-!?)0@!.#0->!A/*.!.%4)'!%3! 2%$5
/,7!310*.)0!*.#,!+#'*!@)#0;!E.%17.!*.)0)!
#0),6*!$#,@!7#$)'!+)3*>!89:!/'!#071#&+@!
*.)!$%'*! /$4%0*#,*! 2%$4)*/*/%,! *%! 7)*!
*.0%17.;
D:%0!$)!*.)!')#'%,!/'!#++!#&%1*!7)*5
*/,7!0)#-@!3%0!89:>!&1*!*.)!')#'%,!/',6*!
'%$)*./,7! *.#*! A)! 2#,! O1'*! %?)0+%%(;!
E.)!0)71+#0!')#'%,!/'!O1'*!#'!31,!#,-!)B5
2/*/,7!#'!4+#@%33'>!)B2)4*!*.)!'*#()'!#0)!
'/7,/R2#,*+@!+%A)0>F!80#$)0!'#/-;
C)2#1')! %3! *.)! *#+),*! %,! )?)0@!
*)#$! /,! *.)! -/?/'/%,>! "#$%! .#'! &)),!
())4/,7!#!2+%')!)@)!%,!*.)/0!%44%,),*'>!
2%$/,7!14!A/*.!'*0#*)7/)'!*%!&0/,7!%1*!
*.)!&)'*!/,!*.)/0!4)03%0$#,2);
DK)6?)!&)),!'*1-@/,7!R+$!%,!%10!
%44%,),*;! [#2.! -#@! /,! 40#2*/2)! A)60)!
40)4#0/,7!3%0!S'*!0%1,-;!K)60)!40#2*/25
/,7!/,!)?)0@!A#@>!%33),2)5A/')!#,-!-)5
3),')5A/')>F!8%#2.! Z#$)'!H)2.*! '#/-;!
D93!A)! +%')! #! 7#$)! ,%A>!A)60)! -%,);!
E.)0)!#0)!70)#*)0!0)4)021''/%,';F
E.)!*)#$!&)7#,!*.)!*%10,#$),*!%,!
:0/-#@>!:)&;!S^!A/*.!./7.!'4/0/*'>!&)#*5
/,7!N%%')?)+*!H/7.!"2.%%+!&@!#!2+%')!
'2%0)! %3! `^5``;! E./'! ?/2*%0@! -)2+#0)-!
*.)/0!2%,*/,1#*/%,!/,!89:;!E.)!R0'*!7#$)!
&0%17.*!#!+%*!%3!'*0)''!*%!*.)!*)#$>!#25
2%0-/,7! *%! H)2.*>! .%A)?)0! *.)@! A)0)!
#&+)!*%!%?)02%$)!*.#*;
DE.)0)!A#'! #! +%*! %3! 89:! 4+#@%33!
'*0)''>!#,-!/*!*%%(!#!A./+)!3%0!*.)!&%@'!
*%!')**+)! /,*%!%10!7#$)>F!8%#2.!H)2.*!
'#/-;!C1*!#3*)0!*.)!,)0?)'!A%0)!%33>!A)!
0)#++@!'*#0*)-!)B)21*/,7!#,-!4+#@/,7!%10!
7#$);F
K/*.!*./'!?/2*%0@!/,!$/,->!*.)!*)#$!
A),*!%,!*%!4+#@!"/+?)0#-%!H/7.!"2.%%+!
%,! E1)'-#@>! :)&;! XS>! A/,,/,7! VT5__;!
<22%0-/,7!*%!H)2.*>!&)2#1')!*.)! *)#$!
.#-! #+0)#-@! 7%,)! *.0%17.! *.)/0! R0'*!
0%1,-!'122)''31++@>!*.)@!A)0)!)#7)0!#,-!
40)4#0)-! 3%0! *.)!,)B*;!E.)! *)#$!)33%0*!
'40)#-!30%$!4+#@)0!*%!4+#@)0>!40%?/-/,7!
#!'%+/-!&#+#,2);
DK.),!@%1!*#'*)!'122)''!)#0+@!/,!
*.)!7#$)>!/*6'!2%,*#7/%1'>F!H)2.*!'#/-;!
DE.)! 7%%-! )33%0*'! '40)#-! *%! *.)! 4+#@5
)0';F
"#$%!A/++!40%2))-!*%!4+#@!/,! *.)!
f1#0*)0!:/,#+'! *%-#@>!:0/-#@>!:)&;!X`>>!
#7#/,'*![*/A#,-#!H/7.!"2.%%+;
!<U9"MQ!YgHd!"#$%&'(")
!!!"#$%&'() ! !!!!!!!!"#$%!&'!!!!!!!!!!!!!"#$%&'%(!)*+!),-)
!"#$%&'(')*+%,'-*.($%/$%-'/0-'#*+'&,!-,&'*+(!"#$$%&'(")'
*+#'"(,*-".)*#+/.(01/+
1$2/%345+%/6$%6-'2/7'-2%7$$8%/$%9"2/'-2%")*%$)'%:-':"-'2%;$-%!/"/'
./%*(0!1&,2,3!2)3*%45("/'
)6'#.#+-".)*#+/.(01/+
!"#$%#&'$(%1*&/(4!5,(60'5,//!7%,72!-,&'8!90&:;<%!7%,720(!
'20!=>??@=>?=!A,&(*'8!'0,3B!C2*(!*(!'20!/,('!'0,3!'2,'!D*//!$/,8!
;+:0&!2*(!';'0/,<0B!
<=4>?%!>@A4B!!"!#$%&'()*&$'
C0-72D% E"28'/E"77% F$"FG% ")*%
;$-#'-%G02/$-H%/'"FG'-%9"-/H%,'-I
*.($% 02% -'/0-0)(% ";/'-% )0)'% H'"-2%
$;% 2'-J0F'%"/%!"#$K%,'-*.($%6077%
F$)/0).'%G02%7$J'%;$-%F$"FG0)(%EH%
$:')0)(% "% 2.##'-% :-$(-"#% /G"/%
6077% G'7:% 2/.*')/2% )"J0("/'% 60/G%
L#0)*+% E$*H% ")*% 2:0-0/M% /G-$.(G%
E"28'/E"77K
NFF$-*0)(% /$% ,'-*.($+% 0/% 02%
/G'%2/.*')/2%/G"/%F$#'%E"F8%;-$#%
:-'J0$.2% H'"-2% /G"/% J"70*"/'% G02%
7$J'%;$-%F$"FG0)(K
L4% G$:'% /G'% 0#:-'220$)% 4%
7'"J'% 02% $)'% /G"/% O/G'% 2/.*')/2P%
F")% ;"77% E"F8%$)% ")*%($+% QG'%6"2%
"76"H2% /-H0)(% /$% #"8'% .2% E'/I
/'-+DM% ,'-*.($% 2"0*K% L!$#'% $;%
/G"/% #0(G/% G"J'% E'')% "% 70//7'% E0/%
"E-"20J'+% 4% /G0)8% 4%#"H% G"J'% 7';/%
/G"/% 0#:-'220$)% $)% 2$#'+% E./% 4%
/G0)8% 4D#% G'"-0)(% ')$.(G% ;-$#%
/G'%:7"H'-2%/G-''+%;$.-+%;0J'%H'"-2%
*$6)% /G'% -$"*% /$% ;''7% 708'% 4%6077%
7'"J'% "% ($$*% 0#:-'220$)% $)% G$6%
/$% 7'"*% 2.FF'22;.7% 70J'2%")*%G"J'%
($$*%FG"-"F/'-KM
!"#$%(-"*."/'%")*%;$.-%H'"-%
(0-72D% J"-20/H% :7"H'-+% &077H% 5'*'-%
02% $)'% 2/.*')/% /G"/% F"#'% E"F8%
";/'-% G0(G% 2FG$$7% /$% 6$-8% 60/G%
/G'% /'"#%")*%"0*%,'-*.($% 0)%('/I
/0)(% G02% 2.##'-% :-$(-"#% $;;% /G'%
(-$.)*K
L='D2% "% (-'"/% (.H% "2%6'77% "2%
"%(-'"/%F$"FGK%4/D2%'"2H%;$-%%#'%/$%
6")/% /$% F$#'%E"F8% ")*% G'7:% G0#%
F$)/0).'%6G"/%G'%6"2%*$0)(%60/G%
#'%60/G%$/G'-2+M%5'*'-%2"0*K
N7/G$.(G% )$/% "77% $;% ,'-*.I
($D2%/'"FG0)(%#'/G$*2%6'-'%;.77H%
"FF':/'*+% G'%6077% F"--H%60/G% G0#%
/G'% #'#$-0'2% $;% /G$2'% 2/.*')/2%
;$-%6G$#%G'%#"*'%"%*0;;'-')F'K
L4%G"*%/$%-'"77H%7'"-)+%/G$.(G%
4%G"J')D/%%"76"H2%*$)'%"%(-'"/%R$E+%
/G"/%/G'-'%"-'%*0;;'-')/%/'FG)0S.'2%
/G"/%G"J'%/$%E'%.2'*+%0)%2$#'%F"2I
'2+% ;$-% F$"FG0)(% (0-72K% >G02% H'"-%
G"2% /".(G/%#'%"% 7$/K% 4DJ'%'J$7J'*%
;-$#% /G'% -'*I;"F'*% 80)*% $;% #"*+%
F-"TH+% $)I/G'I20*'70)'IF$"FG% 4%
.2'*%/$%E'+M%,'-*.($%2"0*K%L<G')%
4%7'"J'%G'-'%)$6+%4D#%"%2$;/'-%:'-I
2$)%/G")%4%6"2%20U%H'"-2%"($KM
NFF$-*0)(%/$%2')0$-%")*%J"-I
20/H%F":/"0)%N)'02'%1"7#$-'+%,'-I
*.($D2%"0*%-'"FG'*%E'H$)*%"/G7'/I
0F2K
L='% G'7:'*% #'% E'F$#'% "%
7'"*'-%2$%'J'-H$)'%F")%;$77$6%#H%
'U"#:7'+M%1"7#$-'%2"0*K
!')0$-% ?#07H% A.-")% "(-''2%
/G"/%,'-*.($% G'7:'*% G02% 2/.*')/2%
(-$6%0)%#")H%6"H2K
L<'DJ'%($//')%"%7$/%$;%6$-*2%
$;% 602*$#% ;-$#% G0#+M% A.-")%
2"0*K
4)%"**0/0$)%/$%/G"/%$;%%G02%2/.I
*')/2+%,'-*.($%G"2%'"-)'*%/G'%"*I
#0-"/0$)%$;%G02%F$77'"(.'2K
L>G02% H'"-% G'D2% E'')% /$/"77H%
0)J0($-"/'*+% 4% /G0)8% EH% /G'% :7"HI
'-2K%>G'H%G"J'%"%-'"77H%F$$7%E$)*%
/G"/%G"2%;'*%G0#%')'-('/0F"77H%")*%
:-$;'220$)"77HK% 4/D2% E'')% -'"77H%
;.)% 6"/FG0)(% /G'% /'"#% (-$6% .)I
*'-%G02% /./'7"('+M%"2202/")/% F$"FG%
V"2$)% W"//.)(% 2"0*K% L>G02% H'"-%
G'D2% -'"77H% R.2/% ')R$H'*% G0#2'7;%
")*%')R$H'*%/G'%:-$F'22%$;%F$"FGI
0)(%")*%/'"FG0)(%2/.*')/%"/G7'/'2K%
='D2% R.2/% "% J'-H% F$)20*'-"/'% :'-I
2$)KM
W';$-'% "22.#0)(% G02% :$2/% "/%
!"#$+% ,'-*.($% F$"FG'*% 0)% X'*I
6$$*2+%3"70;$-)0"K%5-$#%/G'-'+%G'%
/$$8%"% 2#"77%G0"/.2% 0)%&$2%N)('I
7'2%E';$-'%6$-80)(%$)% /G'%F$"FGI
0)(% 2/";;% ;$-% /G'% YWN% 60))0)(%
/'"#+%>G'%!")%N)/$)0$%!:.-2K
L4/% 6"2% $)'% $;% /G'% #$2/% 'UI
F0/0)(% /0#'2% $;% #H% 70;'K% 4/% 6"2% "%
G"-*I6$-80)(% H'"-% E'F".2'% /G'-'%
6"2% "% 2/-08'+% 2$% /G'-'% 6'-'% "% 7$/%
$;%("#'2% 0)% "% 70//7'%E0/% $;% /0#'K% 4%
6$-8'*%Z[%*"H2%0)%"%-$6+%\]IG$.-%
*"H2+M% ,'-*.($% 2"0*K% L4/% /.-)'*%
$./% /G"/% 0/% 6"2% /G'% H'"-% /G"/% /G'%
!:.-2%6$)%/G'0-%;0-2/%YWN%FG"#I
:0$)2G0:K% <'% ')*'*% .:% 60))0)(%
0/% 0)% Y'6%^$-8+%9"*02$)% !S."-'%
C"-*')K% >G02% $:')'*% .:% "% 7$/% $;%
)*+,-!'J')%!"#$%6-'2/7'-2%F$#:'/I
'*%0)%/G'%3"70;$-)0"%4)/'-2FG$7"2/0F%
5'*'-"/0$)% _345`% F$#:'/0/0$)% /G02%
6''8')*+% ")*% /6$% 6-'2/7'-2+% 2'I
)0$-2% W.T0% >.-)'-% ")*% B#"-% !$7I
$-T"+%6077%E'%#$J0)(%$)%/$%F$#:'/'%
"/% /G'% )'U/% 7'J'7% "/% /G'% 3"70;$-)0"%
9"2/'-2%<-'2/70)(% >$.-)"#')/% $)%
5'EK%a]%")*%abK
5-'2G#")% V"8'%W'"-'+% 2$:G$I
#$-'% A$.(% Y$/'6"-'% ")*% R.)0$-%
V"('-% 9'/T% "77% F$#:'/'*% $)% /G'%
;0-2/% *"H% $;% 345+% ")*% ;-'2G#")%
?/G")%9"//H+% R.)0$-% !:')F'-% C$-I
*$)%")*%2')0$-2%>.-)'-%")*%!$7$-T"%
S."70;0'*%/$%F$#:'/'%0)%/G'%2'F$)*%
-$.)*%$;%345%/G'%)'U/%*"H%"2%6'77K%
>.-)'-%")*%!$7$-T"%E$/G%/$$8%;0;/G%
:7"F'%")*%6077%E'%#$J0)(%$)%/$%/G'%
)'U/% 7'J'7% "/% /G'% 3"70;$-)0"% 9"2I
/'-2% <-'2/70)(% >$.-)"#')/% /G02%
6''8')*K% 9"//H% :7"F'*% '0(G/G% "/%
345% E./%6077% )$/% E'%#$J0)(% $)% /$%
9"2/'-2K
17"F0)(%"/%345%")*%#$J0)(%$)%
/$% 9"2/'-2% 02% "% G.('% "FF$#:702GI
#')/+%")*% /G'%#"0)%($"7%$;% %#")H%%
!"#$% 6-'2/7'-2K% >.-)'-% 2"H2% /G"/%
/G02% 02% 2$#'/G0)(% G'% G"2% "76"H2%
6")/'*K%
NFF$-*0)(% /$%>.-)'-+%9"2/'-2%
02% "72$% "% G.('% 2/':% /$6"-*2% /G'%
3"70;$-)0"%!/"/'%3G"#:0$)2G0:2K%4;%
>.-)'-%$-%!$7$-T"%:7"F'% 0)% /G'% /$:%
)0)'% "/% 9"2/'-2+% !/"/'% 02% /G'% )'U/%
7'J'7K%>.-)'-%"72$%:7")2% /$%6-'2/7'%
0)% F$77'('+% ")*% 6-'2/70)(% "/% 9"2I
/'-2%6077%7'/%G0#%'U:'-0')F'%"%G0(GI
'-%7'J'7%$;%6-'2/70)(%20#07"-%/$%/G"/%
$;%F$77'('%6-'2/70)(K
L4% ;''7% -'"77H% ($$*%S."70;H0)(%
;$-%9"2/'-2+M%>.-)'-% 2"0*K% L4/%6"2%
#H%#"0)%($"7%O;$-P%#H%2')0$-%H'"-+%
")*%O"72$%"P%70;'7$)(%*-'"#KM
>$% ;-'2G#')+% /G'% F$#:'/0/0$)%
"/% 345% 02% 20()0;0F")/7H%#$-'% FG"7I
7')(0)(% /G")%6G"/% /G'H% 2''%*.-0)(%
/G'% -'2/% $;% /G'0-% 2'"2$)K%=$6'J'-+%
G"J0)(%S."70;0'*%;$-%345%'J'-H%H'"-%
20)F'% G02% 2$:G$#$-'% H'"-+% >.-)'-%
6"2% )$/% 2.-:-02'*% EH% /G'% 7'J'7% $;%
F$#:'/0/0$)K
L>G'% F$#:'/0/0$)% "/% 345%6"2%
:-'//H% /$.(G% E./% 4% 8)'6% 4% F$.7*%
G")(% /$'I/$I/$'% 60/G% /G'% /$.(G%
F$#:'/0/0$)%E'F".2'%4%G"J'%*';'"/I
'*% $J'-% \a% 345% :7"F'-2K% >G-''% $;%
/G'#% G"J'% E'')% 345% ;0)"702/2% ")*%
$)'%"%345%3G"#:0$)+M%>.-)'-%2"0*K
!$7$-T"+% 6G$% G"2% E'')% 6-'2I
/70)(% 20)F'% G02% 2$:G$#$-'% H'"-+%
"(-''2%/G"/%G'%;'7/%:-':"-'*%;$-%/G'%
345%F$#:'/0/0$)K
L4%"#%:-$.*%$;%#H2'7;%E'F".2'%
4% G"J')D/% 6-'2/7'*% ;$-% "2% 7$)(% "2%
/G'% -'2/% $;% /G'% 2')0$-2% ")*% 4% 2/077%
#"*'%0/%/G-$.(G%O/$%9"2/'-2P+M%!$7I
$-T"%2"0*K%L4/%;''72%6$)*'-;.7+%OE./P%
/G'%F$#:'/0/0$)%"/%345%6"2%)$/%/G"/%
E"*KM
3$"FG% 9"-8% W7"F8% "**'*+%
L5$-% O>.-)'-% ")*% !$7$-T"P+% /G'0-%
($"7%6"2%/$%:7"F'%"/%345%")*%:7"F'%
G0(G%')$.(G% /$%#"8'%9"2/'-2+%E'I
F".2'% /G"/% 02% /G'% ;0-2/% S."70;H0)(%
/$.-)"#')/% ;$-% !/"/'K% 4*'"77H+% /$%
#"8'% !/"/'% 02% H$.-% .7/0#"/'% ($"7+%
E./%H$.%G"J'%($/%/$%6-'2/7'%/G-$.(G%
9"2/'-2% /$% *$% /G"/K% >G'H% G"J'% "%
J'-H%*0;;0F.7/%-$"*+%E./%4%/G0)8%/G'H%
"-'%F":"E7'%$;%*$0)(%0/KM
N2%"%;-'2G#")+%9"//H%6"2%0#I
:-'22'*%EH%G02%/'"#D2%:'-;$-#")F'%
"/% 345+% E./% '2:'F0"77H% EH% /G'% :'-I
;$-#")F'2% $;% >.-)'-% ")*% !$7$-T"K%
>$% 2''% E$/G% $;% /G'2'% .::'-F7"22I
#')%#$J'% $)% /$%9"2/'-2% 02% 'UF0/I
0)(%;$-%/G'%6G$7'%/'"#+%")*%"77$62%
/G'%.)*'-F7"22#')%/$%2'/%/G'0-%$6)%
($"72% ;$-% /G'% -'2/% $;% /G'0-% /0#'% $)%
/G'%!"#$%6-'2/70)(%/'"#K
L4% ;''7% 'J'-HE$*H% *0*% -'"77H%
6'77+% 6'% G"J'% /6$% 2')0$-2% ($0)(%
$)% /$%9"2/'-2% 6G0FG% 02% 'UF0/0)(+M%
*$$-2%;$-%#'KM
N;/'-% !")%N)/$)0$+% ,'-*.($%
2/"-/'*%F$"FG0)(%"/%!"#$%0)%accd%
")*% ;-$#% /G'-'% G'% 7'*% /G'% (0-72D%
J"-20/H% E"28'/E"77% /'"#% /$% "% 345%
J0F/$-H% .20)(% /'FG)0S.'2% /G"/% G'%
G"*% 7'"-)'*% ;-$#% E'0)(% $)% /G'%
F$"FG0)(% 2/";;% $;% /G'% !:.-2K%,'-I
*.($% "//-0E./'2% /G'% /'"#D2% 2.FI
F'22%$J'-%/G'%H'"-2%/$%2.FG%/'"FGI
0)(%#'/G$*2K
L50-2/%$;%"77+% 4%)'J'-% 7'/%")HI
E$*H% 2"H% Q4% F")D/D% $)% /G'% /'"#K% 4%
6$.7*% 2"H% #H% ;0-2/% /'"#% -"02'*%
/G'%E"-%$;%G$6%/$%E'K%4DJ'%"76"H2%
E'')% "E7'% /$% :$0)/% $./% /G'0-% :0FI
/.-'2% $)% /G'% E"F8% 6"77% ")*% 2"H%
Q/G"/D2% 6G"/% H$.% G"J'% /$% 2/-0J'%
;$-eG$6%H$.%6")/%/$%E'%-'#'#I
E'-'*+D% ")*% /G$2'% (0-72% "-'% ($0)(%
/$%E'% -'#'#E'-'*%"2%:'$:7'%6G$%
F"#'% 0)% ")*% -'"77H% :./% /G02% :-$I
(-"#%$)%/G'%#":+M%,'-*.($%2"0*K
Y$6% /G"/% /G'% (0-72D% E"28'/I
E"77% 2'"2$)% G"2% F$#'% /$% "% F7$2'+%
0)/'-J0'62%;$-%,'-*.($D2%-':7"F'I
#')/%6077%2$$)%/"8'%:7"F'K
L>G'H%6077% $:')% 0/% .:% /$% /G'%
:.E70F% ;$-% /6$% 6''82+M% 9"-02"%
!07J'2/-0+%")%"0*% /$% /G'%(0-72D%J"-I
20/H% E"28'/E"77% /'"#% 2"0*K% L4D#%
($0)(%/$%/G-$6%#H%G'"*%0)KM
N;/'-% "% 7$)(% ")*% 2.FF'22I
;.7% F"-''-% "/% !"#$+% ,'-*.($% "FI
8)$67'*('2% /G"/% G02% *':"-/.-'% 02%
E0//'-26''/K%='%;''72%/G"/%/G'%')*%
$;% /G02% :'-2$)"7% /-")2;$-#"/0$)%
")*% /-")2;$-#"/0$)% $;% /G'% (0-72D%
E"28'/E"77% :-$(-"#% 02% $)7H% /G'%
')*%$;%$)'%FG":/'-%0)%G02%E$$8K
9"//H%2"0*K%L4%F")D/%6"0/%/$%2''%G$6%
/G'H%*$KM
@)708'% >.-)'-% ")*% !$7$-I
T"+% 9"//H% 6"2% 2.-:-02'*% EH% G$6%
/$.(G% /G'%F$#:'/0/0$)%"/%345%6"2K%
>G$.(G% G'% 6"2% :-':"-'*+% G'% *0*%
)$/% 8)$6% 'U"F/7H% 6G"/% /$% 'U:'F/%
.)/07% G'% ($/% $./% $)/$% /G'%#"/% ")*%
6-'2/7'*K
L4%6')/%0)/$%345%/G0)80)(%Q4D#%
($))"% ($% $./% ")*% 6-'2/7'% G"-*%
")*% 2#"-/D% E'F".2'% 4% 8)'6% 0/% 6"2%
"% G0(G'-% 7'J'7% $;% F$#:'/0/0$)+M%
9"//H% 2"0*K% L4%8)'6%"E$./% 0/% OE./P%
4% G"*)D/% 'U:'-0')F'*% 0/% H'/K% 4% 6"2%
/G'% $)7H% ;-'2G#")% 0)% #H% 6'0(G/%
F7"22% ")*% 4% ')*'*% .:%6-'2/70)(% "77%
2')0$-2K%>G"/%6"2%;.)KM
W'"-'% "(-''2% /G"/% E$/G% ;-'2GI
#')% G"*% )'J'-% 'U:'-0')F'*% /G02%
80)*% $;% F$#:'/0/0$)+% E./% 2"H2% /G"/%
G'%;'7/%6'77%:-':"-'*K
L4% 7'"-)'*% "% 7$/% ")*% /G'% F$#I
:'/0/0$)%6"2% /$/"77H% *0;;'-')/% ;-$#%
'"-70'-% 0)% /G'% 2'"2$)+M%W'"-'% 2"0*K%
L>G'%28077%$;%"77%/G'%6-'2/7'-2%/G'-'%
6"2%"/%"%6G$7'%)'6%7'J'7%")*%0/%-'I
"77H%/'2/'*%#'K%=$6'J'-+%4%6"2%J'-H%
:-':"-'*%/G")82%/$%#H%F$"FG'2%")*%
/G'%.::'-F7"22#')%$)%$.-%/'"#KM
>G$.(G% >.-)'-% 02% (-"*."/0)(%
/G02% H'"-+% G'% 02% 'UF0/'*% ")*% $:/0I
#02/0F% "E$./% )'U/% 2'"2$)% E'F".2'%
$;% G$6% 6'77% /G'% .)*'-F7"22#')%
:'-;$-#'*%/G02%H'"-K
L4% 6"2% -'"77H% 0#:-'22'*% 60/G%
;-'2G#")% ?/G")% 9"//H+M% >.-)'-%
2"0*K% L?/G")%6"2% $)'%#"/FG% "6"H%
;-$#% #"80)(% 9"2/'-2% ")*% /G"/D2%
J'-H% 0#:-'220J'% "2% "% ;-'2G#")K%
>G'% /'"#% G"2% 7$/2% $;% :$/')/0"7% ;$-%
)'U/%H'"-D2%2'"2$)%")*%4D#%G$:0)(%
:-'//H%2$$)%/G"/%#H%H$.)(%E-$/G'-2%
F")%E-0)(% O!"#$P% "%345% /'"#% /0/7'%
")*%J0F/$-HKM
./01,-5-'2G#")% 9"**H% >.)(% ")*%
R.)0$-% V'220F"% <"78'-% E$/G% F$#I
:'/'*%"/%(0-72D%345%0)%!"F-"#')/$+%
3NK% ="J0)(% :7"F'*% ;0-2/+% <"78'-%
6077% E'% F$#:'/0)(% "/% /G'% 345%
C0-72D%!/"/'%<-'2/70)(%>$.-)"#')/%
$)% 5'EK% a]% ")*% ab+% ")*% 2G'% G"2%
;"0/G%/G"/%2G'%6077%/"8'%/G'%($7*K%
L4% E'70'J'% /G"/% 4%6077% *$%6'77%
0)% !/"/'% *.'% /$% /G'% #02/"8'2% 4DJ'%
7'"-)'*% ;-$#+% #H% 0)F-'"2'*% "/GI
7'/0F02#+%#H%G"-*6$-8%")*%#H%*'I
/'-#0)"/0$)+M% <"78'-% 2"0*K% N72$+%
/G'% ;"F/% /G"/% 4% :7"F'*% 2'F$)*% 7"2/%
H'"-% (0J'2% #'% /G'% *-0J'% /$% E-0)(%
/G'%;0-2/%:7"F'%#'*"7%E"F8%G$#'KM
E!2%$0!'20!*3$&0((*%+!E!/0,A0!*(!%+0!'2,'!
"'20!(';:0+'()! 7,+! F,//! 5,76!%+!,+:!<%G!
H20!D,(! ,/D,8(! '&8*+<! '%!3,60! ;(! 50'@
'0&B4I
J1*&/(4!5,(60'5,//!7%,72G!-,&'8!90&:;<%
!!!"#$%&'( ! !!!!"#$%!&'
!!!!!!!!"#$%&'%(!)*+!),-)
!"#$%&'%())*#'%*+%(,'*,-%'."/0'$(%%'",'%*)(,-'#(1,-'234
50(160'6"#$&%'%())*#')+7*'",'/0"#-'
8$+)*'(9*#+$$' ",':)*+,';*+61*'+,-'0+-'
0"60'0(8*%'<(#'234='/0*'/*+7'1,<(#/1,+/*>
$?'<*$$'%0(#/'(<'/0*"#'6(+$%@'A</*#'.",,",6'
/0*"#' B#%/' 6+7*' ",' 234' +6+",%/' ;+61,+'
C"60'D)0(($'(,'4*E@'FG='D+7('$(%/'%0(#/>
$?'+</*#'",'/0*'%*)(,-'#(1,-'+6+",%/'D(1/0'
5(##+,)*'(,'4*E@'HH@
A))(#-",6' /(')(+)0'I"77?'20+8>
7+,=' /0(160' /0*' %*+%(,' .+%' ,(/' /0*"#'
E*%/='D+7('8$+?*-'.*$$'+,-'81/'",'+'B*#)*'
*<<(#/'-1#",6'/0*"#'$+%/'6+7*@
J:1#' %*+%(,' "%' (9*#=K' 20+87+,'
%+"-@'J50*'%*+%(,'0+%'0+-'"/%'0"60%'+,-'
$(.%='+,-'/0(160'.*'-"-',(/'E*+/'D(1/0'
5(##+,)*='.*'8$+?*-'.*$$@K
20+87+,' %+"-' /0+/' +$/0(160' /0*'
/*+7'8$+?*-'/('/0*'E*%/'(<'/0*"#'+E"$"/"*%='
+,'+))"-*,/+$'%0(/'",/('/0*"#'(.,'6(+$'81/'
/0*7'E*0",-@
JL*' 0+-' +,' (.,' 6(+$' *+#$?' (,='
.0")0'81/'1%'",'+'0($*=K'20+87+,'%+"-@'
JA</*#'/0+/='.*'M1%/')(1$-,&/'81/'+,?/0",6'
/(6*/0*#@K
A))(#-",6' /(' %(80(7(#*' 8$+?*#'
N+#"*' D+$*7=' /0*' (.,' 6(+$' .+%' .0+/'
6+9*' D(1/0' 5(##+,)*' /0*' *-6*' +6+",%/'
D+7(@
JD(1/0' 5(##+,)*=' E*",6' /0*' HO/0'
/*+7' ",' /0*' %/+/*=' 81/' +.+?' /.(' P1")Q'
6(+$%=K' D+$*7' %+"-@' J:1#' $*9*$' (<' 8$+?'
%/+#/*-' /(' -#(8' +</*#' /0+/=' E1/'.*' ,*9*#'
6+9*'18@'L*'$*</'"/'+$$'(1/'(,'/0*'B*$-='<(#'
(1#'%*,"(#%@K
R*%8"/*'/0*"#'$(%%='20+87+,'%+"-'0*'
)+,')(,6#+/1$+/*'D(1/0'5(##+,)*'<(#'8$+?>
",6'%('.*$$'+6+",%/'D+7(@
JA'$(/'(<')#*-"/'%0(1$-'6('/('D(1/0'
5(##+,)*=' .0(' 8$+?*-' 9*#?' .*$$' +,-'
)+8"/+$"S*-'(,'(1#'
7"%/+Q*%=K' 20+8>
7+,' %+"-@' J50*?'
0+9*'/0*'8(/*,/"+$'
/('.",'234@K
D+$*7'"%'-"%>
+88(",/*-' E?' /0*'
$(%%' +,-' /0*' *,-'
(<'/0*'%*+%(,='E1/'
%+?%' /0*' <+)/' /0+/'
D+7(' 0+%' )(7*'
+%'<+#'+%'/0*?'0+9*'
%0(.%' /0*"#' /#1*'
8(/*,/"+$@
J3'+7'8*#%(,+$$?'9*#?'-"%+88(",/*-'
E*)+1%*'+</*#'#(1,-'(,*'T(<'234U'(1#'/*+7'
0+-'+'$(/'(<'7(7*,/17='E1/'.*')(1$-',(/'
)+8"/+$"S*' +6+",%/' D(1/0' 5(##+,)*=K' D+>
$*7'%+"-@'JA$/0(160'.*'+#*'-"%+88(",/*-'
.*'-"-',(/'6*/'+%'<+#'+%'.*'.+,/*-'/('",'
/0*'8$+?(<<%='.*'+#*'0+88?'."/0'(1#'.",>
,",6'%*+%(,'+,-'0(.'<+#'.*'0+9*')(7*@K
V#"(#' /(' 234=' /0*' /*+7' 0+-' *W8*>
#"*,)*-' -"%+88(",/7*,/' ."/0' /0*"#' X#-'
8$+)*' 8(%"/"(,' ",' $*+61*@' A))(#-",6' /('
20+87+,='D+7('0+%'.(,'/0*'$*+61*'<(#'
/0*'8+%/'/*,'?*+#%@'20+87+,'%+"-'/0+/'/0*'
%*+%(,'0+%'E**,'-"%+88(",/",6'<(#'+',17>
E*#'(<'#*+%(,%='%**",6'+%'/0*'/*+7'0+%',(/'
0*$-'/0*7%*$9*%'/('/0*'0"60'%/+,-+#-%'*W>
8*)/*-'(<'/0*7@
J!"9*,' (1#' -(7",+,)*' ",' /0*'
$*+61*'<(#'/0*'8+%/'-*)+-*='3'E*$"*9*'.*'
1,-*#8*#<(#7*-=K' 20+87+,' %+"-@' JL*'
0+-'%(7*'9")/(#"*%'+,-'-"%+88(",/7*,/%'
",'/0*'%*+%(,='E1/'/0*#*'%**7'/('E*'<*.*#'
9")/(#"*%'+,-'7(#*'-"%+88(",/7*,/%'/0"%'
?*+#@K
A))(#-",6' /(' )(>)+8/+",' Y#"%/*,'
Z+%P1*S=' /0*"#' 8*#<(#7+,)*' "%' +' #*%1$/'
)$*+',-.&'/+%
!"#$$%&'(")'%
[(?%&'%())*#'-(7",+/*%'",'<"#%/'/.('#(1,-%'(<'234*+(",-)'."/),#01/(2310
!"##$"%&$#'(()*!"#$%&'!()'*&!+#,)-)!.##/0!12#!3)44!5&6%$7!)8)9!:'&5!-#:#$-#'0!%$!)!2&5#!7)5#!
)7)%$01!;&$%1)!<%72!"*2&&4!&$!=#3>!?@>!!
DAN'[:;::\2C3']'!"#$%&'(")
(<'/0*'/*+7&%'$+)Q'(<'<()1%'(,'/0*"#'(.,'
%/#+/*6"*%'+,-'8$+?%@
J3'<**$'/0+/'/0"%'?*+#'.*'.*#*'7(#*'
<()1%*-'(,'#"9+$#"*%'+,-'-"%/#+)/*-'E?'/0*'
(/0*#'/*+7%'/0+,'(1#%*$9*%'.0")0'#*+$$?'
01#/'(1#'#*%1$/%=K'Z+%P1*S'%+"-@'JL*'+#*'
+' 6((-' /*+7' +,-' 0+9*'71)0' 8(/*,/"+$='
+,-'8*#%(,+$$?'3'-(,&/'<**$'$"Q*'(1#'#*%1$/%'
",' $*+61*'#*8#*%*,/'0(.'.*'8$+?*-'+,-'
.0*#*'.*'%/+,-'+%'+'/*+7@K
Z+ % P 1 * S'
%+?%' /0+/' +$/0(160'
/0*' $(%%' ",' :)*+,'
;*+61*' .+%' +' $*/'
-(.,=' "/' E?' ,('
7*+,%' /0*' *,-@'
A))(#-",6' /('
Z+%P1*S=' *9*,'
/0(160' "/' 7+?' E*'
-"%+88(",/",6' <(#'
6#+-1+/",6'%*,"(#%='
/0*' /*+7' )+,' %/"$$'
+88#*)"+/*' +%8*)/%'
(<' /0*' %*+%(,' E*>
?(,-'/0*"#'$*+61*'/"/$*@'
J[*",6'+'%*,"(#='(<')(1#%*'3&7'-"%>
+88(",/*-'+E(1/'0+9",6'7?'$+%/'%*+%(,'E*'
/0*'.(#%/'D+7('0+%'0+-='E1/'/0*'6"#$%&'%"-*'
0+%'.(,'"/'<(#'%('$(,6'/0+/'3'<**$'$"Q*'.*'
%0(1$-'E*'$((Q",6'<(#.+#-'/('7(#*'/0+,'
+'$*+61*'/"/$*=K'Z+%P1*S'%+"-@'J^9*,/1+$$?'
D+7('0+-'/('*,-'/0*"#'*#+'+,-'+'-"<<*#>
*,/'/*+7'T0+-'/(U'.",@'3'8*#%(,+$$?'/0",Q'
/0+/'"/&%'Q",-'(<'%*$B%0'<(#'1%'/('/0",Q'/0+/'
.*'%0(1$-'.",'*9*#?'?*+#@'A,(/0*#'/*+7'
,**-%'/('<**$'.0+/'"/&%'$"Q*'/('.",'+'/"/$*='
*%8*)"+$$?'"<'/0*"#'%)0(($'0+%',*9*#'*W8*>
#"*,)*-'(,*'E*<(#*@K
20+87+,' %+?%' /0*' %*+%(,' 0+-' "/%'
0"60' 7(7*,/%' +,-' /0+/' /0*' /*+7' 0+%'
7+-*'%(7*'7+M(#'+))(78$"%07*,/%'E(/0'
(,'+,-'(<<'/0*'B*$-@
JA%'."/0'7(%/'%*+%(,%='/0*#*'.*#*'
%(7*'0"60'8(",/%'+,-'%(7*'$(.'8(",/%=K'
20+87+,' %+"-@' J50(160' .*' 1,-*#8*#>
<(#7*-=' /0*#*' .*#*' %(7*' E#"60/' %8(/%@'
;"-"+'[+//+6$"+'+,-'Y#"%/*,'Z+%P1*S'+)>
)*8/*-'%)0($+#%0"8'(<<*#%'/('8$+?'%())*#'+/'
/0*'_,"9*#%"/?'(<'C+.+""'+,-'/0*'_,"9*#>
%"/?'(<'D+,'4#+,)"%)(@'N(#*'"78(#/+,/$?='
.*'P1+$"B*-'<(#'234='+,-'3'E*$"*9*'",'/0*'
6"#$%' +,-' /0*"#' +E"$"/?' /(')(78*/*'+/' /0*'
0"60*%/' $*9*$' +,-'7+Q*' %(7*'.+9*%' ",'
/0*'8$+?(<<%@K
A$/0(160'/0*"#'%*+%(,'"%'/*)0,")+$$?'
(9*#=' /0*' #*/1#,",6'8$+?*#%'."$$' 8")Q'18'
(<<>%*+%(,'/#+",",6'",'(#-*#'/('8#*8+#*'<(#'
,*W/'.",/*#@
451)/0."/),#01/(2310
0%+1$%2,3$+45,
!"#$$%&'(")'%
L0"$*'Q,**$",6' ",' +' )"#)$*'7",>
1/*%'E*<(#*'/0*"#'%*)(,-'#(1,-'(<'234'
8$+?(<<%'/0*'E(?%&'9+#%"/?'%())*#'/*+7'
$"%/*,*-'",/*,/$?'/('.(#-%'(<'."%-(7'
<#(7' /0*"#' )(+)0*%' E*<(#*' .+#7",6'
18@''50*"#'.0($*'%*+%(,'0+-'$*-'18'/('
/0"%'8(",/'+,-='<(#'/0*'%*,"(#%='"<'/0*?'
$(%/' "/' 7*+,/' /0*' *,-' (<' /0*"#' D+7('
%())*#' )+#**#@' ' 4(#/1,+/*$?' <(#' /0*7='
/0+/'.+%',(/'/0*')+%*@'D+7('E*+/'[1#>
#(160%' C"60' D)0(($' H>O' +/' [1#E+,Q'
C"60'D)0(($'(,'51*%-+?='4*E@'HF@
[*<(#*' 234' +,-' ;*+61*=' E(?%&'
%())*#' 8#*8+#*-' <(#' /0*"#' %*+%(,' E?'
8+#/")"8+/",6' ",' (<<>%*+%(,' /(1#,+>
7*,/%' +,-' 6+7*%@' D+7(' -"-' ,(/' -('
.*$$' ",' /0*"#' B#%/' 8#*>%*+%(,' /(1#,+>
7*,/=' /0*' D(1/0' 5(1#,+7*,/=' (9*#'
.",/*#' E#*+Q@' A))(#-",6' /(' 0*+-'
)(+)0' D*#+B,' \(-#"61*S=' /0*' /*+7'
6+9*' 18' *"60/' 6(+$%' ",' /0#**' 6+7*%'
-1#",6'/0*'D(1/0'5(1#,+7*,/@
J L *'
-"-,&/' -('
/((' .*$$@'
L*' .*#*'
%/"$$' Q",-'
(<' <**$",6'
(1/' /0*'
/*+7=K' %*>
,"(#' 6(+$>
Q**8*#'+,-'
)(>)+8/+",'
AS"S' *̀>
0"+' %+"-@'
JL*' (,$?'
0+-'/0#**'#*/1#,",6'%/+#/*#%@'L*'8#*//?'
71)0' $(%/' (1#' *,/"#*' %/+#/",6' /*+7'
<#(7'$+%/'?*+#='%('.*'0+-'+'9*#?'<#*%0'
/*+7'/0"%'?*+#@'3/'/((Q'+'$"//$*'.0"$*'<(#'
1%'+$$'/('6*/'E*//*#'+/'8$+?",6'/(6*/0*#='
E1/'3'/0",Q'.*&9*'#*+$$?'%/*88*-'18'/('
"/@K
Z+#%"/?' $(%/' FG' %*,"(#%' $+%/' ?*+#'
+,-'."$$'$(%*'Fa'/0"%'?*+#@
A$/0(160' /0*' /*+7' -"-' ,(/' -('
.*$$' ",' /0*' D(1/0' 5(1#,+7*,/=' /0*'
/*+7' %/*88*-' "/' 18' ",' /0*' L*%/%"-*'
5(1#,+7*,/@
JL0*,'.*'6('",/('/0*'L*%/%"-*'
/(1#,+7*,/' .*' (,$?' 8$+?' R"9"%"(,' 3'
/*+7%=K' \(-#"61*S' %+"-@' JL*' -(,&/'
.+,/'/('8$+?'+,?E(-?'*$%*@'50+/'#*+$$?'
%*/%'0(.'.*'+#*'6(",6'/('E*'/0"%'?*+#@K
C(.*9*#=' /0*' 8#*>%*+%(,' -(*%'
,(/'7+//*#'",'+,?'.+?'<(#'234'P1+$">
B)+/"(,@'50*'8#*>%*+%(,'6+7*%'%*#9*-'
+%' 8#+)/")*' <(#' /0*' $*+61*' %*+%(,' /('
)(7*@
JL*' $*+#,*-' +' $(/' +E(1/' .0*#*'
.*' ,**-*-' /(' "78#(9*=K' *̀0"+' %+"-@'
JL*'8$+?*-'+'$(/'(<')0+$$*,6",6'/*+7%'
/('7+Q*'1%' E*//*#' +,-' 3' <**$' $"Q*'.*'
#*+$$?' -"-' "78#(9*' +' $(/' -1#",6' 8#*>
%*+%(,@K
L0"$*' )*#/+",' 8+#/%' (<' /0*' 8#*>
%*+%(,' 7+?' 0+9*' E**,' %0+Q?=' E(?%&'
9+#%"/?'.*,/'(,' /('0+9*'+' %1))*%%<1$'
%*+%(,'",'/0*':)*+,';*+61*@'50*'/*+7'
.*,/'1,-*<*+/*-' +,-'.+%',+7*-' /0*'
:)*+,';*+61*')0+78"(,%@'A))(#-",6'
/(' )(+)0' \(-#"61*S=' D+7(' .+%' /0*'
(,$?'/*+7'",'/0*':)*+,';*+61*'/('6('
1,-*<*+/*-@
JTD+7(U=' [*9*#$?' +,-' C+.>
/0(#,*'.*#*'+$$'9"#/1+$$?'/"*-'<(#'B#%/=K'
*̀0"+'%+"-@'JA$$'/0#**'(<'1%'.*#*'#"60/'
+/'/0*'/(8@'R*<*+/",6'[*9*#$?'%(1,-$?='
H>O='(,'%*,"(#'-+?'.+%'+'016*'18$"</>
",6'6+7*'<(#'1%'+,-'"/'#*+$$?'0*$8*-'1%'
%*+$':)*+,';*+61*@'4#(7'/0*#*'"/'0+%'
M1%/'E**,'180"$$@K
[?'-(",6'%('.*$$'",'/0*"#'$*+61*'
%*+%(,=' /0*' /*+7' P1+$"B*-' <(#' 234@'
D+7('0+-'"/%'B#%/'#(1,-'6+7*'+/'0(7*'
+6+",%/'[(>
,"/+' C"60'
D)0(($@'A)>
)(#-",6' /('
\(-#"61*S='
/0*' /*+7'
.+%' ,(/' +'
9*#?' 6((-'
7+/)0' <(#'
/0*'J7"60/?'
8 ( . * # K'
(<' /0*'
E(?%&' 9+#>
%"/?' /*+7@''
D+7(' %)(#*-' /0#**' 6(+$%'."/0",' /.('
7",1/*%'(<'6+7*'8$+?'+,-'.*,/'(,'/('
E*+/'[(,"/+' b>O' +,-'7(9*' (,' /(' /0*'
%*)(,-'#(1,-'(<'234@
D+7(' *7*#6*-' 9")/(#"(1%' ",'
/0*"#'%*)(,-'#(1,-'(<'234@'D+7('.+%'
/0*'B#%/'/('Q")Q'/0*'E+$$'(<<'+/'/0*'%/+#/'
(<' /0*' 6+7*' +,-' .0*,' %*,"(#' 7"->
B*$-*#'Y*9",'^?$*#'7+-*'(,*'(<' /0*'
B#%/'8+%%*%'(<'/0*'6+7*'/('(/0*#'%*,"(#'
<(#.+#-'[+#+Q'2+%%"$?='2+%%"$?'E#(Q*'
/0*'-*<*,-*#%'+,-'-*$"9*#*-'+'8(.*#>
<1$'%0(/'(,'6(+$' /0+/'+</*#'0"//",6' /0*'
6(+$Q**8*#&%'0+,-%'.*,/'",/('/0*'E+)Q'
(<'/0*',*/@
JTD)(#",6'/0*'B#%/'6(+$U'.+%'(,*'
(<' /0*' E*%/' <**$",6%' *9*#=K' 2+%%"$?'
%+"-@'J3'-#*+7/'+E(1/'"/'+$$'$+%/',"60/@K
D+7(',(.'7(9*%'(,'/('/0*'P1+#>
/*#'B,+$%'(<'234'.0")0'."$$'E*'+'0(7*'
6+7*'+6+",%/'2+/0*-#+$'C"60'D)0(($@
0.6+*,$7%,8$5.*9*:+,.*,&4+,;+917+,<$%,&4+,
#9'&,8+:98+=,>,?+;.+6+,@+,7*8+%#+%<$%5+8A,
B4+%+,'++5,&$,?+,<+@+%,6.:&$%.+',9*8,5$%+,
8.'9##$.*&5+*&',&4.',2+9%AC,,,,,,,,,,
,D,0.%;E','$::+%,F$9:4,).552,F49#59*,
>&, &$$/, 9, ;.&&;+, @4.;+,
<$%, 7', 9;;, &$, 1+&, ?+&G
&+%, 9&, #;92.*1, &$1+&4+%=,
?7&, >, &4.*/, @+E6+, %+9;;2,
'&+##+8,7#,&$,.&AC
,,,,,,,,,,,,,,D,HI.I,J+4.9,EKL
!"#$% #&% '($#)"$% #*)+,-"%
#./')% )0"% 1'#*)"*% 2&#-%
3#4"% #3#+&5)% 6#)0"$*#-%
7+30%8,0//-%/&%9".:%;<%#)
===:)0"5#4/0+:,/4
!!!"#$%&'()*&+ ! !!!!!!!!"#$%!&'!!!!!!!!!!!!!"#$%&'%(!)*+!),-)
,-./'01!#*-2)*1/330!"#$$%&'(")'
!"#$%#&'#()*+!&,(#(-&'#-./!-!(0'-.1)-(21&3!&4
*+,#-.,/)++01",)+#*2,(342*
!"#$%&'()"*+)",-./+)01"423&5(-61-&(7/!-1.!#-8%!921(%5!:7-6,-5(-!;1)/5!<%8$/&/3!(1!&5(-&*'%13!=*(<*!(1<'2./!>?5%8!'/?&!&%!5()*&@!3=(88(1)A!5216
1(1)!-1.!B(C(1)D!E*/!-B%7/!$(<&25/3!%?!;1)/5!=/5/!&-C/1!-&!-!&5(-&*'%1!(1!F%1)!G/-<*A!H4D
!"#$%&%'()*+%),%-./') 0%-&)
123)4"526)57)3'%)2+/2)5'2%-'/253'/8)
72"9%'2)/'9):/.3);"'53-)<0/=>/=
-5/)?'$%-)'%0%-)"7%7(
?'$%-@) /) 2-5/2+8%2%) #-3.) A5=
%''/@) -%B/887) +%-) #5-72) 2-5/2+83')
050598C(
1D2)E/7)73)+/-9)/'9)D)E/7)73)
7B/-%9) &%B/"7%) D) F'%E) 2+%) G%-=
73') &%+5'9) /'9) 5') #-3'2) E/7) 73)
72-3'$())*3E/-97)2+%)#5'57+)D)2-5%9)
23) $%2) /88) .C) %'%-$C) 23$%2+%-) 23)
B/2B+) "G) 23) 2+%) 32+%-) /2+8%2%() ) D)
E/7) 73) G-3"9) E+%') D) 7/E) 2+/2) D)
+/9)B-377%9)2+%)85'%)#5-72@6)?'$%-)
7/59(
?'$%-) B/.%) 23) 2+%) ?'52%9)
:2/2%7) 3') H/'() IJ) 3#) 8/72) C%/-) 23)
5.G-30%)+%-)<'$857+)/'9):G/'57+)
/'9) 23) G"-7"%) +%-) G/7753'K) B3.=
G%25'$) 5') 2-5/2+83'7) L7E5..5'$@)
-"''5'$) /'9) &5F5'$M() :+%) 57) B"-=
-%'28C) 2-/5'5'$) E52+) *%/.) :/'2/)
>3'5B/)L*:>M@)/)B8"&)7E5.)2%/.)
2+/2) .%%27) /2) :/'2/)>3'5B/) N38=
8%$%()
1D)2+3"$+2)2+/2)2+57)E3"89)&%)
/) '%E) B+/88%'$%) /'9) /) $339) 3G=
G3-2"'52C) #3-) .%) 23) 2-C() ) D) /873)
B/.%) O23) 2+%) ?(:(P) &%B/"7%) 2+%)
7G3-27) 3##%-%9) /-%) -%/88C) #/'2/7=
25B@6)?'$%-)7/59(
?'$%-) +/7) /873) +/9) 23) /9/G2)
23) /) '%E) 7B+%9"8%) 5') 2+%) 72/2%7()
Q')23G)3#)7B+338@)?'$%-)+/7)7E5.)
2-/5'5'$)%0%-C9/C)%RB%G2):"'9/C()
?'$%-S7) 7E5.) G-/B25B%7) /-%) /8=
.372) /8E/C7) G-%=
B%9%9) &C) 9-C=8/'9)
2-/5'5'$@) 5') E+5B+)
7+%) &5F%7) #3-) 2E3)
+3"-7) /'9) -"'7) #3-)
TU)23)VJ).5'"2%7(
*+57) 7B+%9"8%)
93%7'S2) %0%') B3.=
G/-%) 23) +%-) ;/.=
G/BF%9) 7B+%9"8%) 5')
!"72-5/@) E+%-%) 7+%)
/22%'9%9)/)7B+338)'%/-)2+%)W%-2+/)
X5''&%-$):B+338)#3-)*3"-57.)/'9)
<B3'3.C() *+%-%@) 7+%) E3"89) &%)
5') 7B+338) #-3.) Y) /(.() 23) U) G(.(@)
72"9C5'$) ZV) 7"&;%B27) /7) E%88) /7)
2-/5'5'$) /'9) B3.G8%25'$) +3.%=
E3-F(
*-5/2+83'7)/-%)/)#/.58C)&"75=
'%77K)?'$%-S7) 7572%-@)[57/=:3G+5%)
?'$%-)57)/873)/)2-5/2+8%2%)E+3)/7=
G5-%7) 23) %."8/2%) +%-) 7572%-S7) 7"B=
B%77%7()
1:+%)57)/)0%-C)/.&5253"7)/2+=
8%2%)/'9)2/F%7)2+%)7G3-2)0%-C)7%-5=
3"78C() ):+%) 57)73)72-3'$)/'9)E5'7)
73) 3#2%'() ) D) 73.%25.%7) E57+) 2+/2)
D) B3"89) +/0%) 2+%) 7/.%) /.&5253')
/7).C)7572%-@6)[57/=:3G+5%)?'$%-)
7/59(
\-5/') *5..%-./'@) ?'$%-S7)
*:>)B3/B+)/$-%%7)2+/2)?'$%-)57)/)
7F588%9) /2+8%2%()W3E%0%-@) +%) -%B=
3$'5]%7)2+%)B+/88%'$%7)3#)&%5'$)/)
'%EB3.%-)23)2+%)72/2%7(
) 1:+%) 57) /) $-%/2) /2+8%2%@)
72-3'$) /'9) /$58%() D) 2+5'F) 52S7)
/./]5'$) 2+/2) 7+%) B+37%) 23) B3.%)
23) :/'2/) >3'5B/) 23) 72"9C) /'9)
2-/5')#3-)7E5..5'$)/'9)2-5/2+83'()
D) +3G%) 52) $3%7) E%88) #3-) +%-() \%=
5'$)73)#/-)#-3.)#/.58C)/'9)#-5%'97)
B/') &%) /) 95##5B"82) 752"/253') #3-) /)
2%%'/$%-@6)*5..%-./')7/59(
D') IJJV) /'9) IJZJ@) ?'$%-)
E3') 2+%) !"72-5/') N+/.G53'7+5G)
5') !4"/2+83') L7E5..5'$) /'9)
-"''5'$M) /'9)*-5/2+83'() ):+%) #38=
83E%9)2+%7%)7"BB%77%7)5')IJZZ)&C)
E5''5'$) 2+%) H"'53-) *528%) 5') 2+%)
<"-3G/.%572%-5')!4"/2+83')%0%'2)
L<"-3G%/') N+/.G53') 5')!4"/2+=
83'M)E+%-%)7+%)7E/.)/)ZF)/'9)-/')
/)UF(
1*+%) 7"B=
B%77%7) /-%)
'5B%@)&"2) D) ;"72)
93)52)&%B/"7%)D)
830%)23()D)93'S2)
F'3E) +3E)
83'$) D) E588)
G-/B25B%) 52) /'9)
E+/2).C)#"2"-%)
E588) 833F) 85F%@)
&"2) #3-) .%) 52) 57) 5.G3-2/'2) 23) 93)
/'C)7G3-2)'%R2)23).C)7B+338())DS.)
7"-%) 2+/2) 52) E3"89) &%) '5B%) 23) 93)
2+%) +3&&C) /7) /) B/-%%-@) &"2) #5-72) D)
E588)B3'B%'2-/2%)3').C)%9"B/253')
/'9) 2+%') D)E588) 7%%)E+%-%) 2+%) #"=
2"-%)2/F%7).%@)6)?'$%-)7/59(
W3E%0%-@) 52) 57) '32) /88) /&3"2)
/2+8%25B7) #3-) ?'$%-() ?'$%-) /873)
%';3C7) 7G%'95'$) 25.%) 5') '/2"-%)
/'9)$35'$)23).305%7():+%)57)/)#/')
3#) -3./'25B) B3.%95%7@) &"2) /873)
830%7)/)$339)2+-588%-(
X3-) 2+%) .3.%'2@) ?'$%-) 57)
E3-F5'$)+/-9)23)/9/G2)23)+%-)'%E)
%'05-3'.%'2) /'9) 2+%) %0%-C9/C)
B+/88%'$%7) 3#) &%5'$) /) 72-/'$%-) 5')
/)#3-%5$')8/'9(
1D2) 57) B+/88%'$5'$) 23) 93) %0=
%-C2+5'$) 3') .C) 3E') /'9) '32)
F'3E)2+/2)73.%&39C)B/')+%8G).%)
3"2) 3#) 73.%2+5'$) 5#) D) +/0%) /'C)
G-3&8%.7() *+%) 7B+338) +%-%) 57) '3)
G-3&8%.) &%B/"7%) 5') !"72-5/) 52) 57)
-%/88C) .3-%) B+/88%'$5'$) 73) 52) 57)
/') %/7C) 2+5'$) #3-) .%) 23) +/'98%())
W3E%0%-@) 52) 57) '%-0%) E-/BF5'$) 5#)
D) B/'S2) #5'9) 2+%) B3--%B2) E3-97) 23)
%RG8/5') 73.%2+5'$() :3.%25.%7) D)
3'8C) E/'2) 23) 7G%/F) 5') ,%-./'^6)
?'$%-)7/59(
\"2) 935'$) 73) E3"89) .%/')
4"5225'$@)/'9)2+/2)57)'32)/)E3-9)5')
?'$%-S7) <'$857+) 3-) ,%-./') 03=
B/&"8/-5%7(
>!**WD!:)?_,<`!"#$%&'()*&$'
E%=-5.3! &*/! I1(3*! J! &5(/.! &%! )/&! -''! 80!
/1/5)0!&%)/&*/5!&%!<-&<*!2$!&%!&*/!%&*/5!
-&*'/&/D!J!=-3!3%!$5%2.!=*/1!J!3-=!&*-&!J!
*-.!<5%33/.!&*/!'(1/!I53&DK
6!:7-6,-5(-!;1)/5A!LMN
