View
59
Download
7
Category
Preview:
DESCRIPTION
"In contrast to the asexual chasteness of official communist art, Nazi art is both prurient and idealizing. A utopian aesthetics (physical perfection; identity as a biological given) implies an ideal eroticism: sexuality converted into the magnetism of leaders and the joy of followers. The fascist ideal is to transform sexual energy into a "spiritual" force, for the benefit of the community."
Citation preview
!
!"#$%&$'()*(+,-.( /00%"
!"#$%&"'%&()!"#$%#*
"#$%&'"(&)%*
!"#$%&'($)*$("#$+,-&+,'-.&/'0/.1.&$)%23
4%56.5'7'0(89':;<'66=9'>?<=@A
..$/#0&12&+,'B%CD'E/%
F%33%&)/&.'F((D$9'?A<'66=9'>:=@A'G6%6.5H
I
J/5$)'KL2/+/)='4.5.'/$'%'+((D'(1'?:M'$63.&N/N'C(3(5'62()(*5%62$'+,'-.&/'0/.1.&$)%239
C.5)%/&3,')2.'O($)'5%P/$2/&*'+((D'(1'62()(*5%62$'6#+3/$2.N'%&,82.5.'/&'5.C.&)',.%5$=
I&')2.'/&)5%C)%+3.'N.$.5)'(1')2.'$(#)2.5&'"#N%&'3/P.'%+(#)'./*2)')2(#$%&N'%3((19
*(N3/D.'Q#+%9'.O+3.O$'(1'62,$/C%3'6.51.C)/(&9'8/)2'3%5*.9'8.33R$2%6.N9'6%5)3,'$2%P.&
2.%N$9'.L65.$$/P.'1%C.$9'%&N'O#$C#3%5'+(N/.$'82/C2'%5.'N.6/3%).N'%&N'N.C(5%).N'8/)2
$C%5$S'$O.%5.N'8/)2'$%C5.N'*5%,R82/).'%$29')2.'O.&'65%&C.9'$T#%)9'+5((N9'85.$)3.'/&')2.
%5/N'$%&N='U&N'2.5.'/$'%'1%$C/&%)/&*'3%,(#)'(1')8.3P.'+3%CDR%&NR82/).'62()(*5%62$'(1
-.&/'0/.1.&$)%23'(&')2.'+%CD'C(P.5'(1')2.'+((D9'%3$('5%P/$2/&*9'%'C25(&(3(*/C%3
$.T#.&C.'(1'.L65.$$/(&$'G15(O'$#3)5,'/&8%5N&.$$')(')2.'*5/&'(1'%'!.L%$'O%)5(&'(&
$%1%5/H'P%&T#/$2/&*')2.'/&)5%C)%+3.'O%5C2'(1'%*/&*=
!2.'1/5$)'62()(*5%62'8%$')%D.&'/&'?@:V'82.&'$2.'8%$')8.&),R1/P.'%&N'%35.%N,'%'O(P/.
$)%59')2.'O($)'5.C.&)'%5.'N%).N'?@M@'G$2.'/$'C#NN3/&*'%'&%D.N'U15/C%&'+%+,H'%&N'?@V:
G$2.'/$'2(3N/&*'%'C%O.5%H9'%&N'.%C2'(1')2.O'$2(8$'$(O.'P.5$/(&'(1'%&'/N.%3'65.$.&C.9
%'D/&N'(1'/O6.5/$2%+3.'+.%#),9'3/D.'K3/$%+.)2'"C28%5WD(61X$9')2%)'(&3,'*.)$'*%,.5'%&N
O(5.'O.)%33/C'%&N'2.%3)2/.5R3((D/&*'8/)2'(3N'%*.='U&N'2.5.'/$'%'+/(*5%62/C%3'$D.)C2'(1
0/.1.&$)%23'(&')2.'N#$)'Y%CD.)9'%&N'%&'/&)5(N#C)/(&'G#&$/*&.NH'.&)/)3.N'Z4(8'-.&/
0/.1.&$)%23'C%O.')('$)#N,')2.'[.$%D/&'Q#+%'(1'\(5N(1%&]^1#33'(1'N/$T#/.)/&*'3/.$=
2.'/&)5(N#C)/(&9'82/C2'*/P.$'%'N.)%/3.N'%CC(#&)'(1'0/.1.&$)%23X$'6/3*5/O%*.')(')2.
"#N%&'G/&$6/5.N9'8.'%5.')(3N9'+,'5.%N/&*'4.O/&*8%,X$'!"#$34##5$6211'$)*$7*428&
Z(&.'$3..63.$$'&/*2)'/&')2.'O/NR?@A;$]H9'3%C(&/C%33,'/N.&)/1/.$')2.'62()(*5%62.5'%$
Z$(O.)2/&*'(1'%'O,)2/C%3'1/*#5.'%$'%'1/3ORO%D.5'+.1(5.')2.'8%59'2%31R1(5*()).&'+,'%
J(&)'"/W._'U'U'U
!
"#$%&"'()%*)'*)&+,'$&'(%-,'./&0'%$+'0,0&/1'#"',/#'&.'%$+')%+$&/123'4)&'56$
7%,.,"+$#)8'),/+,8.'*&689')#:,'$)&6;)$'6-'$)%+'.#58,'#5&6$'()#$'%+'0%+$%81'/,.,//,9'$&
#+'<#'"#$%&"3'()%*)'.&/'+&0,'6""#0,9'/,#+&"'<*)&+,3'$&'-,/.&/0'$),'9,-8&/#58,'#*$
&.'*&(#/9%*,'&.'.&/;,$$%";'<#"',/#3=$#*$.6881'8,.$'6"+-,*%.%,9=<&.'%$+')%+$&/13>
?/,+60#581@'#$'8,#+$'+&0,'/,#9,/+'(%88'5,'+$#/$8,9'51'$)%+'*&1'#886+%&"'$&'A,/0#"1'#"9
$&'$),'!)%/9'7,%*)2'BC$'9&,+@')&(,:,/@'9#/,'0&/,'$)#"'$),'#88D*&"*,#8%";'5/,:%$1'&.
E#/-,/'F'7&(G+'#9+'.&/'!"#$%&'($)*$("#$+,-&@'()%*)'%9,"$%.1'7%,.,"+$#)8'+%0-81'#+
<$),'/,"&(",9'.%80'0#H,/23I
J&0-#/,9'(%$)'$),'%"$/&96*$%&"@'$),'K#*H,$'&.'$),'5&&H'%+'-&+%$%:,81',L-#"+%:,'&"'$),
+65K,*$'&.'$),'-)&$&;/#-),/G+'*#/,,/@'-#//&$%";'$),'0%+%".&/0#$%&"'$)#$'7%,.,"+$#)8
)#+'5,,"'9%+-,"+%";'.&/'$),'8#+$'$(,"$1'1,#/+2
C$'(#+'96/%";'A,/0#"1G+'58%;)$,9'#"9'0&0,"$&6+'MNOP+'$)#$'Q,"%'7%,.,"+$#)8
+-/#";'$&'%"$,/"#$%&"#8'.#0,'#+'#'.%80'9%/,*$&/2'R),'(#+'5&/"'%"'MNPS@'#"9'),/
.%/+$'9,:&$%&"'(#+'$&'*/,#$%:,'9#"*%";2'!)%+'8,9'$&'),/'-#/$%*%-#$%&"'%"'+%8,"$
.%80+@'#"9'+&&"'+),'(#+'),/+,8.'0#H%";=#"9'+$#//%";'%"=),/'&("'$#8H%,+@
+6*)'#+'!"#$.),/(&0/'BMNSNI2
!),+,'$,"+,81'/&0#"$%*'-/&96*$%&"+'(,/,'(%9,81'#90%/,9@'"&$'8,#+$'51'T9&8.
E%$8,/'()&@')#:%";'#$$#%",9'-&(,/'%"'MNOO@'*&00%++%&",9'7%,.,"+$#)8'$&'0#H,
#'9&*60,"$#/1'&"'$),'U6/,05,/;'7#881'%"'MNOV2
C$'$#H,+'#'*,/$#%"'&/%;%"#8%$1'$&'9,+*/%5,'$),'U#W%',/#'#+'<A,/0#"1G+'58%;)$,9'#"9
0&0,"$&6+'MNOP+@3'$&'+600#/%W,'$),',:,"$+'&.'MNOO'#+'E%$8,/G+'<)#:%";'#$$#%",9
-&(,/@3'#"9'$&'#++,/$'$)#$'7%,.,"+$#)8@'0&+$'&.'()&+,'(&/H'(#+'%"'%$+'&("'9,*#9,
*&//,*$81'%9,"$%.%,9'#+'U#W%'-/&-#;#"9#@',"K&1,9'<%"$,/"#$%&"#8'.#0,'#+'#'.%80
9%/,*$&/@3'&+$,"+%581'8%H,'),/'*&"$,0-&/#/%,+'7,"&%/@'Q65%$+*)@'#"9'X8#),/$12'BJ&689
$),'-658%+),/+')#:,'8,$'Q7'(/%$,'$),'K#*H,$'*&-1'),/+,8.>'Y",'),+%$#$,+'$&',"$,/$#%"'+&
6"H%"9'#'$)&6;)$@'#8$)&6;)'<),/'.%/+$'9,:&$%&"'(#+'$&'9#"*%";3'%+'#'-)/#+,'.,('"#$%:,
+-,#H,/+'&.'Z";8%+)'(&689'5,'*#-#58,'&.2I
),'.#*$+'#/,@'&.'*&6/+,@'%"#**6/#$,'&/'%":,"$,92'X&/'+$#/$,/+@'"&$'&"81'9%9
7%,.,"+$#)8'"&$'0#H,=&/'+$#/'%"=#'$#8H%,'*#88,9'!"#$.),/(&0/'BMNSNI2'U&'+6*)
.%80',L%+$+2'[&/,';,",/#881\'7%,.,"+$#)8'9%9'"&$'.%/+$'+%0-81'-#/$%*%-#$,'%"'+%8,"$'.%80+@
$),"@'(),"'+&6"9'*#0,'%"@'5,;%"'9%/,*$%";'),/'&("'.%80+@'%"'()%*)'+),'$&&H'$),
+$#//%";'/&8,2'X/&0'$),'.%/+$'$&'$),'8#+$'&.'#88'"%",'.%80+'+),',:,/'#*$,9'%"@'7%,.,"+$#)8
(#+'$),'+$#/]'#"9'+,:,"'&.'$),+,'+),'9%9'"&$'9%/,*$2
!),+,'+,:,"'.%80+'(,/,\'!"#$1)23$.),/(&0/'B4#5$1#0206#$7#56@'MNS^I@'!"#$706$8,9:
B4#5$;5)''$<:5,/6@'MNS_I@'=&(#$)*$("#$1),'#$)*$1&:'-,56'B4&'$<>"0>?'&2$@#5#5$A)/
1&:'-,56@'MNSNI@'!"#$B"0(#$1#22$)*$C0(D$C&2E'B40#$B#0''#$1F22#$A)/$C0D$C&2E@'MNSNI=
#88'+%8,"$+=.&88&(,9'51'GA&2&/>"#'B<(,59$E-#5$@#9$.)/(-2&/>@'MNOPI@'B"0(#$=5#/D3
!!"#$%"&''"$()*'+,"#$%&$'"#()*#-.-$/+"0"#1#!-.-$2&'0"#1"#$%&+,$%&&'-#.//#012#3)4
5464#*764824*#09#:6-#.6)3/*#;()8<"#)*3"*##3=#>1?4/9#@1884@@=1/#./A7)4#4A78@#@7)84
$%$%"#5>3@4#8(6446"#(=246#B74=4)@2(>/#/4=2#>7C#23#@267<4#312#3)#>46#35)#(@#(#*7648236#7)
$%&+"#A42464*#312#572>#(#D46C(),E(A()4@4#83A63*18273)"#4,"$!)*1,3"#$56$3,"
-)7*#)&#!!&"$45+,3"#$8"'$-)7*#)&"#$%&F'"#()*#9$(50&:'5:$;#*'5"#!2&:$(50&:'5:"
$%&G'"#032>#=/3A@-#!H>4#=7/C#)32#*764824*#09#;()8<#7@#<)3"$56$3,"$=5*'"$56$=)>'0*#1"#(
639(/7@2#544A74#C(*4#7)#.1@267(#7)#5>78>#B74=4)@2(>/#A/(94*#I(674#J42@46("#K635)
L67)84#B1*3/=M@#83,@1787*44#(2#I(946/7)?-#N3#A67)2#@44C@#23#>(O4#@16O7O4*-'
H>4@4#=7/C@#5464#)32#@7CA/9#P24)@4/9#63C()278-Q#;()8<M@#A3A,R(?)467()#O4>78/4@#=36
B74=4)@2(>/#5464#)3#*3102#2>31?>2#3=#(@#(A3/7278(/#5>4)#2>49#5464#C(*4#012#2>49#8()
(/@3#04#@44)#7)#64263@A482"#(@#S74?=674*#T6(8(146#>(@#(6?14*"#(@#()#()2>3/3?9#3=#A6323,
N(U7#@4)27C4)2@-#H>4#C31)2(7)#8/7C07)?#7)#;()8<M@#A782164@#5(@#(#O7@1(//9#7664@7@270/4
C42(A>36#3=#1)/7C724*#(@A76(273)#235(6*#2>4#>7?>#C9@278#?3(/"#032>#04(127=1/#()*
24667=97)?"#5>78>#5(@#/(246#23#0483C4#83)86424#7)#;V>646536@>7A-#H>4#8>(6(8246#2>(2
B74=4)@2(>/#?4)46(//9#A/(94*#5(@#2>(2#3=#(#57/*#?76/#5>3#*(64@#23#@8(/4#2>4#A4(<#2>(2
32>46@"#2>4#PO(//49#A7?@"Q#@>67)<#=63C-#W46#=76@2#63/4"#7)#2>4#@7/4)2#4,"$=5?@$A5*:3)&:
!$%+X'"#7@#2>(2#3=#(#931)?#*()846#)(C4*#:7327C(#047)?#5334*#09#()#(6*4)2#8/7C046
5>3#83)O462@#>46#23#2>4#>4(/2>9#48@2(@74@#3=#./A7)7@C-#H>7@#8>(6(8246#1)*4654)2#(
A63?64@@7O4#(??6()*7U4C4)2-#Y)#>46#=76@2#2(/<74"#9B)?):+,"#!$%&Z'"#B74=4)@2(>/#7@#(
C31)2(7),A3@@4@@4*#?76/#7)#/3O4#572>#(#931)?#C424363/3?7@2"#5>3#@(O4@#>7C#5>4)#>4
7@#@26()*4*#3)#>7@#@236C,5648<4*#30@46O(2369#3)#2>4#A4(<#3=#I3)2#[/()8-
B74=4)@2(>/#>46@4/=#*764824*#@7\#=4(2164#=7/C@-#W46#=76@2"#5>78>#5(@#64/4(@4*#7)#$%&+"
5(@#()32>46#C31)2(7)#=7/C]4,"$C?*"$D&1,3#!!)'$C?)*"$D&+,3'-#B74=4)@2(>/#@2(664*#7)#72
(@#54//"#A/(97)?#(#63/4#@7C7/(6#23#2>4#3)4@#7)#;()8<M@#=7/C@#=36#5>78>#@>4#>(*#044)#P@3
57*4/9#(*C764*"#)32#/4(@2#09#.*3/=#W72/46"Q#012#(//4?367U7)?#2>4#*(6<#2>4C4@#3=
/3)?7)?"#A16729"#()*#*4(2>#2>(2#;()8<#>(*#264(24*#6(2>46#@83127@>/9-#.@#1@1(/"#2>4
C31)2(7)#7@#64A64@4)24*#(@#032>#@1A64C4/9#04(127=1/#()*#*()?4631@"#2>(2#C(^4@278
=3684#5>78>#7)O724@#2>4#1/27C(24#(==76C(273)#3=#()*#4@8(A4#=63C#2>4#@4/=]7)23#2>4
0632>46>33*#3=#8316(?4#()*#7)23#*4(2>-#!_)#)7?>2@#5>4)#2>4#C33)#7@#=1//"#(#C9@246731@
0/14#/7?>2#6(*7(24@#=63C#2>4#A4(<#3=#I31)2#K67@2(//3"#/167)?#2>4#931)?#O7//(?46@#23#269
23#8/7C0#72-#L(64)2@#269#23#<44A#2>476#8>7/*64)#>3C4#04>7)*#8/3@4*#57)*35#@>12246@"#012
2>4#931)?#(64#*6(5)#(5(9#/7<4#@3C)(C01/7@2@#()*#=(//#23#2>476#*4(2>@#3)#2>4#638<@-'
H>4#63/4#B74=4)@2(>/#*4O7@4*#=36#>46@4/=#7@#3=#PE1)2("Q#(#A67C727O4#864(2164#5>3#>(@#(
1)7`14#64/(273)#23#(#*4@261827O4#A3546-#!_)/9#E1)2("#(#6(?8/(*#3128(@2#?76/#3=#2>4
O7//(?4"#7@#(0/4#23#64(8>#2>4#0/14#/7?>2#@(=4/9-'#S>4#7@#0631?>2#23#>46#*4(2>"#)32#09#2>4
7CA3@@707/729#3=#2>4#?3(/#@9C03/7U4*#09#2>4#C31)2(7)#012#09#2>4#C(2467(/7@2"#A63@(78
@A7672#3=#4)O731@#O7//(?46@#()*#2>4#0/7)*#6(273)(/7@C#3=#(#54//,C4()7)?#O7@7236#=63C#2>4
8729-#!E1)2(#<)35@#2>(2#2>4#0/14#/7?>2#7@#4C7224*#09#A648731@#@23)4@a#047)?#(#864(2164#3=
!
"
#$%&'(#)%)*+'(,&'%&-&.(')/'*,&'0&1&.(2'3&4$*5+')/6)77&%&/*'*8'*,&)%'94*&%)4.'-4.$&:';$*'(,&
74..(')/'.8-&'1)*,'4'-4<4*)8/)/='#4)/*&%'4/6'/4)-&.5'<8/7)6&(')/',)9'*,&'(&<%&*:'>&'*&..(
*,&'-)..4=&%(+'1,8'(<4.&'*,&'98$/*4)/+'%&98-&'*,&'*%&4($%&+'4/6'(&..')*?'1,&/'@$/*4
(*4%*(',&%'4(<&/*'4*'*,&'/&A*'7$..'988/+'*,&'3.$&'.)=,*')('/8'.8/=&%'*,&%&'*8'=$)6&',&%+
4/6'(,&'74..('4/6'6)&(:B
7*&%'!"#$%&'#$()*"++'*,&'/&A*'7).9'C)&7&/(*4,.'6)%&<*&6'14('/8*'D4'68<$9&/*4%5'8/
*,&'E$%&93&%='C4..5')/'FGHI+J'78%'C)&7&/(*4,.'946&'7)-&'/8/K7)<*)8/'7).9(L/8*
*18+'4('(,&',4('<.4)9&6'()/<&'*,&'FGMN('4/6'4('4..'<$%%&/*'1,)*&K14(,)/='4<<8$/*('87
,&%'6$*)7$..5'%&#&4*:'O*'14(',)-+./0$.1$23)+"'P4)#*$5#6$7&3'8#96+'FGHHB+'<&.&3%4*)/='*,&
7)%(*'E4*)8/4.'Q8<)4.)(*'R4%*5'S8/=%&((',&.6'47*&%'>)*.&%'(&)T&6'#81&%:'>&%'*,)%6'7).9+
:30$.1$2/##5.;<$='/$>/;0'P!3*$5#/$2/#)"#)+<$?96#/#$@#"/;3-"++'FGHH?'%&.&4(&6')/
FGHMB+'14('946&'78%'*,&'4%95+'4/6'6&#)<*('*,&'3&4$*5'87'(8.6)&%('4/6'(8.6)&%)/='78%'*,&
UV,%&%:'",&/'<49&'*,&'*18'7).9('1,)<,'6)6')/6&&6'94W&',&%')/*&%/4*)8/4..5'7498$(L
*,&'7)%(*'87'1,)<,')('!/)';A"$.1$+"#$@)&&'P!/)';A"$5#6$@)&`+'FGHMB+'1,8(&'*)*.&')(
/&-&%'9&/*)8/&6'8/'*,&'04<W&*'87'!"#$(36+$.1$+"#$B'83+'.&(*')*'414W&/'.)/=&%)/='4/*)K
"&$*8/)<'#%&0$6)<&(')/'*,&'388WK3$5&%'87'*,&'FGXN('#&%,4#(:
",&'04<W&*'<8#5'<8/*)/$&(Y
C)&7&/(*4,.2('%&7$(4.'*8'($39)*'*8'Z8&33&.(2'4**&9#*'*8'($30&<*',&%
-)($4.)(4*)8/'87',)('(*%)<*.5'#%8#4=4/6)(*)<'%&[$)%&9&/*('.&6'*8'4'34**.&'87'1)..(
1,)<,'<49&'*8'4',&46'1,&/'C)&7&/(*4,.'946&',&%'7).9'87'*,&'FGH\'].59#)<
Z49&(+'=&0;A)3:'",)(+'Z8&33&.('4**&9#*&6'*8'6&(*%85?'4/6')*'14('8/.5'(4-&6
35'*,&'#&%(8/4.')/*&%-&/*)8/'87'>)*.&%:
^)*,'*18'87'*,&'98(*'%&94%W43.&'68<$9&/*4%)&('87'*,&'FGHN('*8',&%'<%&6)*+
C)&7&/(*4,.'<8/*)/$&6'94W)/='7).9('87',&%'6&-)()/=+'$/<8//&<*&6'1)*,'*,&'%)(&
87'E4T)'Z&%94/5+'$/*).'FGIF+'1,&/'14%'<8/6)*)8/('946&')*')9#8(()3.&'*8
<8/*)/$&:
>&%'4<[$4)/*4/<&'1)*,'*,&'E4T)'.&46&%(,)#'.&6'*8',&%'4%%&(*'4*'*,&'&/6'87'*,&
Q&<8/6'^8%.6'^4%Y'(,&'14('*%)&6'*1)<&+'4/6'4<[$)**&6'*1)<&:'>&%'%&#$*4*)8/
14(')/'&<.)#(&+'4/6'(,&'14(',4.7'78%=8**&/L4.*,8$=,'*8'4'1,8.&'=&/&%4*)8/'87
Z&%94/(',&%'/49&',46'3&&/'4',8$(&,8.6'18%6:
_A<&#*'78%'*,&'3)*'438$*',&%',4-)/='8/<&'3&&/'4',8$(&,8.6'18%6+')/'E4T)'Z&%94/5+'/8*
8/&'#4%*'87'*,&'438-&')('*%$&:
8'<4(*'C)&7&/(*4,.')/'*,&'749).)4%'%8.&'87'*,&')/6)-)6$4.)(*K4%*)(*+'6&75)/='#,).)(*)/&
3$%&4$<%4*('4/6'<&/(8%(,)#'35'*,&'#4*%8/'(*4*&+')('4'38.6'*%5:'E&-&%*,&.&((+'*,&
)6&4'87',&%'%&()(*)/='DZ8&33&.(2'4**&9#*'*8'($30&<*',&%'-)($4.)(4*)8/'*8',)('(*%)<*.5
#%8#4=4/6)(*)<'%&[$)%&9&/*(J'(,8$.6'(&&9'.)W&'/8/(&/(&'*8'4/58/&'1,8',4('(&&/
!/)';A"$.1$+"#$@)&&L*,&'98(*'($<<&((7$..5+'98(*'#$%&.5'#%8#4=4/6)(*)<'7).9'&-&%
!
"#$%&'()*+%',%-.'/*0/%123*0'0%4#2%+'2)%'1*++353632.'*7'2)%'736"'"#8%-9+')#,304'#0
#%+2)%23/'*-',3+:#6'/*0/%123*0'30$%1%0$%02'*7'1-*1#4#0$#;
<%+3$%+'2)%'%,3$%0/%'*7'2)%'736"'32+%67&'2)%'7#/2+'=$%03%$'5.'>3%7%0+2#)6'+30/%'2)%'(#-?
2%66'@:32%'#0*2)%-'+2*-.;'A)%-%'(#+'0%,%-'#0.'+2-:446%'5%2(%%0'2)%'736"'"#8%-'#0$'2)%
B%-"#0'"303+2%-'*7'1-*1#4#0$#;'!"#$%&'()*(+',(-#..&'#72%-'#66')%-'2)3-$'736"'7*-'2)%
C#D3+&'(#+'"#$%'(32)'2)%'7:66%+2'/**1%-#23*0'#0.'736"'"#8%-')#+'%,%-')#$'7-*"'#0.
4*,%-0"%02;'E)%')#$'#0':063"32%$'5:$4%2&'#'/-%('*7'FGH&'#0$'#'):4%'0:"5%-'*7
/#"%-#+I%+23"#2%$'#2'5%2(%%0'2)3-2.'#0$'7372.I#2')%-'$3+1*+#6;'J#-'7-*"'5%304'#0
#-23+2'()*'(#+'/*0+/-312%$'7*-'#'1*6323/#6'2#+8'#0$'6#2%-'-#0'302*'2-*:56%&'>3%7%0+2#)6
(#+&'#+'+)%'-%6#2%+'30'2)%'5**8'+)%'1:563+)%$'30'FKLM'#5*:2'2)%'"#8304'*7'!"#$%&'()*
+',(-#..& '30'*0'2)%'16#00304'*7'2)%'-#66.I()3/)'(#+&'7-*"'2)%'5%4300304&'/*0/%3,%$
#+'2)%'+%2'*7'#'736"'+1%/2#/6%;
/.0%'3+'#/2:#66.'2(*'736"+&'*0%'/#66%$'3,4+#51.()*(+',(6,)&.,'=3,4+(2,"(78.9,"?'#0$
2)%'*2)%-'3,4+#51.()*(:,1$+0'=3,4+(2,"(;<'8=',#+?;'>3%7%0+2#)6')#+'5%%0'"#302#30304'30
302%-,3%(+'+30/%'2)%'FKMH+'2)#2'5*2)'N6."13/+'736"+'(%-%'/*""3++3*0%$'5.'2)%
O02%-0#23*0#6'N6."13/'P*""322%%&'1-*$:/%$'5.')%-'*(0'/*"1#0.&'#0$'"#$%'*,%-
B*%55%6+9+'1-*2%+2+;'A)%'2-:2)'3+'2)#2'2)%'736"+'(%-%'/*""3++3*0%$'#0$'%023-%6.
730#0/%$'5.'2)%'C#D3'4*,%-0"%02'=#'$:"".'/*"1#0.'(#+'+%2':1'30'>3%7%0+2#)69+
0#"%'5%/#:+%'32'(#+'2)*:4)2'Q:0(3+%'7*-'2)%'4*,%-0"%02'32+%67'2*'#11%#-'#+'2)%
1-*$:/%-R?'#0$'7#/3632#2%$'5.'B*%55%6+9+'"303+2-.'#2'%,%-.'+2#4%'*7'2)%'+)**2304;
>3%7%0+2#)6'(*-8%$'7*-'2(*'.%#-+'*0'2)%'%$32304&'7303+)304'30'23"%'+*'2)#2'2)%'736"
/*:6$')#,%'32+'(*-6$'1-%"3%-%'*0'S1-36'GK&'FKLT&'30'<%-630&'#+'1#-2'*7'2)%'7%+23,323%+'7*-
U326%-9+'7*-2.V0302)'53-2)$#.;'S0$'6#2%-'30'2)%'.%#-'/.0%'(#+'2)%'1-30/31#6'B%-"#0
%02-.'#2'2)%'FKLT'W%03/%'J36"'J%+23,#6&'()%-%'32'(#+'#(#-$%$'2)%'B*6$'!%$#6;
=>3%7%0+2#)6')#$'#6-%#$.'4*22%0'2)%'B*6$'!%$#6'#2'2)%'4*,%-0"%02V+1*0+*-%$'W%03/%
7%+23,#6'30'FKLG'7*-'!',(:.$,(>#?'+;?'X,%0'2)%'16#:+356%V+*:0$304'6%4%0$'*7'B*%55%6+
*5Y%/2304'2*')%-'7**2#4%'*7'2)%'2-3:"1)+'*7'2)%'56#/8'S"%-3/#0'2-#/8'+2#-'Z%++%'N(%0+
3+':02-:%;'J*-'2)3+'736"&'638%'2)%'1-%,3*:+'*0%+&'>3%7%0+2#)6')#$'B*%55%6+9+'7:66
+:11*-2;
*-%'0*0+%0+%['2*'+#.'2)#2'>3%7%0+2#)6'Q/*0230:%$'"#8304'736"+'*7')%-'$%,3+304&
:0/*00%/2%$'(32)'2)%'-3+%'*7'C#D3'B%-"#0.&':0236'FK\F;R'O0'FKLT&'#+'#'1-%+%02'2*
U326%-&'+)%'"#$%':,"<'+,4?12,=(@A,"(;1.BA$"?&'#'7372.V"30:2%'6.-3/'1*-2-#32'*7'2)%
J])-%-'#4#30+2'2)%'-:44%$'"*:02#30'+/%0%-.'*7')3+'0%('-%2-%#2;'O0'FKLK&'+)%
#//*"1#03%$'2)%'30,#$304'^%)-"#/)2'302*'_*6#0$'#+'#':037*-"%$'#-".'(#-
/*--%+1*0$%02'(32)')%-'*(0'/#"%-#'2%#"`'5:2'2)%-%'3+'0*'-%/*-$'*7'#0.'*7'2)3+'"#2%-3#6
+:-,3,304'2)%'(#-;'S72%-'/.0%&'>3%7%0+2#)6'"#$%'%a#/26.'*0%'"*-%'7%#2:-%'736"&
!#,*.1=2&'()3/)'+)%'5%4#0'30'FK\F'#0$&'#72%-'#0'302%--:123*0&'7303+)%$'30'FK\\'=30'2)%
<#--#0$*,'J36"'E2:$3*+'30'C#D3V*//:13%$'_-#4:%?;'!#,*.1=2&'#6-%#$.'30'1-%1#-#23*0'30
F
G
!"#$%&'()&*+',*)&,-&!"#$%&'#$()*"+%&(./&,.+*&(0(1.&2'*&34,2(0,.1)2&536(7*/&87
91*-*.)2('6:&1)&(&8*(;21-;6&,;2+()2<&12&=()&4*6*()*/&1.&!">$&2,&4*),;./1.0&1./1--*4*.+*?
@6*(467&91*-*.)2('6&=,;6/&34*-*4&2,&01A*&2'*&1B34*))1,.&2'(2&2'*4*&=*4*&,.67&2=,
/,+;B*.2(41*)&1.&(.&,2'*4=1)*&6,.0&+(4**4&()&(&/14*+2,4?&C'*&24;2'&1)&2'(2&-,;4&,-&2'*
)1D&-*(2;4*&-16B)&)'*&/14*+2*/&(4*&/,+;B*.2(41*)%&B(/*&-,4&(./&-1.(.+*/&87&2'*&E(F1
0,A*4.B*.2?
G2&1)&6*))&2'(.&(++;4(2*&2,&/*)+418*&91*-*.)2('6H)&34,-*))1,.(6&4*6(21,.)'13&2,&(./
1.21B(+7&=12'&I126*4&(./&J,*88*6)&()&K'*4&(+L;(1.2(.+*&=12'&2'*&E(F1&6*(/*4)'13?M&N(4
-4,B&8*1.0&(.&(+24*))O/14*+2,4&=',B&I126*4&'(33*.*/&2,&-(.+7&(./&2'*.&0(A*&(.
())10.B*.2&2,%&91*-*.)2('6&=()&(&+6,)*&-41*./&(./&+,B3(.1,.&,-&I126*4H)P6,.0&8*-,4*
!"#Q?&R'*&=()&(&-41*./%&.,2&S;)2&(.&(+L;(1.2(.+*%&,-&J,*88*6)%&2,,?&E,&*A1/*.+*
);33,42)&91*-*.)2('6H)&3*4)1)2*.2&+6(1B&)1.+*&2'*&!">T)&2'(2&J,*88*6)&'(2*/&'*4?
U,4*,A*4%&(.7&);00*)21,.&2'(2&J,*88*6)&'(/&2'*&3,=*4&2,&1.2*4-*4*&=12'&91*-*.)2('6H)
=,4V&1)&;.4*(61)21+?&W12'&'*4&;.61B12*/&3*4),.(6&(++*))&2,&I126*4%&91*-*.)2('6&=()&2'*
,.67&J*4B(.&-16B&B(V*4&=',&=()&.,2&4*)3,.)186*&2,&J,*88*6)?&5E,4B(667&)'*&=,;6/
'(A*&8**.&;./*4&2'*&KR',42&(./&X4,3(0(./(&X4,/;+21,.M&)*+21,.&,-&2'*&9*1+'&N16B
@'(B8*4&,-&J,*88*6)H)&B1.1)247&,-&34,3(0(./(?:
Y()2%&12&1)&B1)6*(/1.0&2,&)(7&2'(2&91*-*.)2('6&=()&K241*/&2=1+*%&(./&(+L;122*/&2=1+*M
(-2*4&2'*&=(4?&W'(2&'(33*.*/&1)&2'(2&)'*&=()&841*-67&(44*)2*/&87&2'*&Z661*)&1.&!"$>&(./
2=,&,-&'*4&);B32;,;)&',;)*)&51.&[*461.&(./&U;.1+':&=*4*&)*1F*/?&\D(B1.(21,.)&(./
+,;42&(33*(4(.+*)&)2(42*/&1.&!"$]%&+,.21.;1.0&1.2*4B122*.267&;.216&!">Q&='*.&)'*&=()
-1.(667&K/*OE(F1-1*/M&=12'&2'*&A*4/1+2^&KE,&3,6121+(6&(+21A127&1.&);33,42&,-&2'*&E(F1
4*01B*&='1+'&=,;6/&=(44(.2&3;.1)'B*.2?M&U,)2&1B3,42(.2^&='*2'*4&,4&.,2&91*-*.)2('6
/*)*4A*/&3;.1)'B*.2&(2&2'*&'(./)&,-&2'*&6(=%&12&=()&.,2&'*4&K(+L;(1.2(.+*M&=12'&2'*
E(F1&6*(/*4)'13&8;2&'*4&(+21A121*)&()&(&6*(/1.0&34,3(0(./1)2&-,4&2'*&C'14/&9*1+'&2'(2
=*4*&(2&1));*?
C'*&S(+V*2&+,37&,-&!"#$(,-+$./$+"#$0'1,&);BB(41F*)&-(12'-;667&2'*&B(1.&61.*&,-&2'*
)*6-OA1./1+(21,.&='1+'&91*-*.)2('6&-(841+(2*/&1.&2'*&!">T)&(./&='1+'&1)&B,)2&-;667
)3*66*/&,;2&1.&2'*&1.2*4A1*=&)'*&0(A*&2,&2'*&34*)2101,;)&N4*.+'&B(0(F1.*&2,")#3-$4'
2)567,&1.&R*32*B8*4%&!"_>?&C'*4*&)'*&/*.1*/&2'(2&(.7&,-&'*4&=,4V&=()&34,3(0(./(%
1.)1)21.0&12&=()&+1.*B(&A*412`?&KE,2&(&)1.06*&)+*.*&1)&)2(0*/%M&91*-*.)2('6&)(7)&,-
!3)'78"$./$+"#$9)&&?&K\A*472'1.0&1)&0*.;1.*?&Z./&2'*4*&1)&.,&2*./*.21,;)&+,BB*.2(47
-,4&2'*&)1B36*&4*(),.&2'(2&2'*4*&1)&.,&+,BB*.2(47&(2&(66?&G2&1)&")-+.3:P8'3#$")-+.3:?M
Z62',;0'&!3)'78"$./$+"#$9)&&&'()&.,&.(44(21A*&A,1+*&12&/,*)&,3*.&=12'&(&=4122*.&2*D2
2'(2&'*4(6/)&2'*&4(667&()&2'*&4*/*B321A*&+;6B1.(21,.&,-&J*4B(.&'1)2,47?&[;2&2'1)
,3*.1.0&+,BB*.2(47&1)&2'*&6*()2&,4101.(6&,-&2'*&=(7)&1.&='1+'&2'*&-16B&1)&2*./*.21,;)?
!3)'78"$./$+"#$9)&&&4*34*)*.2)&(.&(64*(/7&(+'1*A*/&(./&4(/1+(6&24(.)-,4B(21,.&,-
4*(6127^&'1)2,47&8*+,B*&2'*(2*4?&G.&'*4&8,,V&3;861)'*/&1.&!"#>%&91*-*.)2('6&'(/&2,6/
!
"#$%"&'"#(%!#$%)'&$*+$&,%-.//0%12.3%4/.55$6%57"%75/0%.3%.%34$8".8'/.&%*.33%*$$"95,
:+'"%.3%.%34$8".8'/.&%4&74.,.56.%;9/*<(%!#$%8$&$*759$3%.56%4&$893$%4/.53%7;%"#$
4.&.6$3=%*.&8#$3=%4&78$339753=%"#$%.&8#9"$8"'&$%7;%"#$%#.//3%.56%3".69'*%2$&$%6$39,5$6
;7&%"#$%875>$59$58$%7;%"#$%8.*$&.3(?%@72%"#$%A.&"0%875>$5"975%2.3%3".,$6%2.3
6$"$&*95$6%+0%"#$%6$893975%"7%4&76'8$%!"#$%&'()*(+',(-#..(%!#$%$>$5"=%953"$.6%7;%+$95,
.5%$56%95%9"3$/;=%3$&>$6%.3%"#$%3$"%7;%.%;9/*%2#98#%2.3%"#$5%"7%.33'*$%"#$%8#.&.8"$&%7;
.5%.'"#$5"98%678'*$5".&0(%B5075$%2#7%6$;$563%-9$;$53".#/C3%;9/*3%.3%678'*$5".&9$3=
9;%678'*$5".&0%93%"7%+$%693"95,'93#$6%;&7*%4&74.,.56.=%93%+$95,%95,$5'7'3(%D5
!"#$%&'()*(+',(-#..=%"#$%678'*$5"%E"#$%9*.,$F%93%57%/75,$&%39*4/0%"#$%&$87&6%7;
&$./9"0G%1&$./9"0?%#.3%+$$5%8753"&'8"$6%"7%3$&>$%"#$%9*.,$(
#$%&$#.+9/9"."975%7;%4&738&9+$6%;9,'&$3%95%/9+$&./%3789$"9$3%67$3%57"%#.44$5%29"#
"#$%32$$495,%+'&$.'8&."98%;95./9"0%7;%"#$%/)0#,+(12343.)&,5#6=%95%2#98#%$.8#%5$2
$69"975%+&95,3%;7&2.&6%.%67H$5%#9"#$&"7%'5*$5"975.+/$%;9,'&$3%.56%/72$&3%.5%$I'./%7&
,&$."$&%5'*+$&%"#&7',#%"#$%"&.4%677&%7;%575$J93"$58$(%K'&%&$#.+9/9"."9753%.&$%37;"$&=
*7&$%9539697'3(%D"%93%57"%"#."%-9$;$53".#/C3%).H9%4.3"%#.3%3'66$5/0%+$87*$%.88$4".+/$(
D"%93%39*4/0%"#."=%29"#%"#$%"'&5%7;%"#$%8'/"'&./%2#$$/=%9"%57%/75,$&%*.""$&3(%!#$
4'&9;98."975%7;%L$59%-9$;$53".#/C3%&$4'"."975%7;%9"3%).H9%6&733%#.3%+$$5%,."#$&95,
*7*$5"'*%;7&%37*$%"9*$=%+'"%9"%&$.8#$6%37*$%M956%7;%8/9*.J%"#93%4.3"%0$.&=%29"#
-9$;$53".#/%"#$%,'$3"%7;%#757&%."%.%5$2%895N4#9/$O875"&7//$6%;9/*%;$3"9>./%#$/6%95%"#$
3'**$&%95%P7/7&.67%.56%"#$%3'+Q$8"%7;%.%"27O4.&"%95"$&>9$2%4&7,&.*%75%PRSC3
1P.*$&.=%!#&$$=?%.56%572%29"#%"#$%4'+/98."975%7;%!',(768+()*(+',(9$:6(
A.&"%7;%"#$%9*4$"'3%+$#956%-9$;$53".#/C3%&$8$5"%4&7*7"975%"7%"#$%3"."'3%7;%.%8'/"'&./
*75'*$5"%3'&$/0%93%7295,%"7%"#$%;.8"%"#."%3#$%93%.%27*.5(%D5%"#$%&7//%8.//%"#."%&'53
;&7*%T$&*.95$%U'/.8%.56%U7&7"#0%B&H5$&%"7%V$&.%P#0"9/7>.=%B,5W3%V.&6.=%X.9
Y$""$&/95,=%S#9&/$0%P/.&M$=%$"%./(=%-9$;$53".#/%3".563%7'"%.3%"#$%75/0%27*.5%69&$8"7&
2#7%#.3%675$%27&M%/9M$/0%"7%"'&5%'4%75%/93"3%7;%"#$%!2$5"0%T&$."$3"%Z9/*3%K;%B//%!9*$(
!#$%[\]^%)$2%_7&M%Z9/*%Z$3"9>./%473"$&=%*.6$%+0%.%2$//OM5725%.&"93"%2#7%93%./37%.
;$*9593"=%3#723%.%+/756%67//O27*.5%2#73$%&9,#"%+&$.3"%93%$589&8/$6%+0%"#&$$%5.*$3`
B,5$3%L$59%S#9&/$0(%Z$*9593"3%27'/6%;$$/%.%4.5,%."%#.>95,%"7%3.8&9;98$%"#$%75$%27*.5
2#7%*.6$%;9/*3%"#."%$>$&0+760%.8M572/$6,$3%"7%+$%;9&3"&."$(
R'"%.%3"&75,$&%&$.375%;7&%"#$%8#.5,$%95%.""9"'6$%"72.&6%-9$;$53".#/%/9$3%95%.%3#9;"%95
".3"$%2#98#%39*4/0%*.M$3%9"%9*47339+/$%"7%&$Q$8"%.&"%9;%9"%93%1+$.'"9;'/(?%!#$%/95$%".M$5
+0%-9$;$53".#/C3%6$;$56$&3=%2#7%572%958/'6$%"#$%*73"%95;/'$5"9./%>798$3%95%"#$%.>.5"O
,.&6$%;9/*%$3".+/93#*$5"=%93%"#."%3#$%2.3%./2.03%8758$&5$6%29"#%+$.'"0(%!#93=%7;
87'&3$=%#.3%+$$5%-9$;$53".#/C3%725%875"$5"975%;7&%37*$%0$.&3(%!#'3%"#$%;6'#,"8(5$
;#2<%6%95"$&>9$2$&%3$"%-9$;$53".#/%'4%+0%7+3$&>95,%;."'7'3/0%"#."%2#."%!"#$%&'()*
+',(-#..%.56%=.4%A%1#.>$%95%87**75%93%"#."%"#$0%+7"#%,9>$%;7&*%"7%.%8$&".95
&$./9"0=%9"3$/;%+.3$6%75%.%8$&".95%96$.%7;%;7&*(%U7%07'%3$$%.50"#95,%4$8'/9.&/0%T$&*.5
!
"#$%&'&()*'+$,+-.,'/$.'/$.012'3$'&()*'!)-/-,*&"(4'",*5-.-67
8'+",'*)094:'*":'&("&'8'/--4'*9$,&",-$%*4:'"&&."+&-6'#:'-;-.:&(),<'&("&')*
#-"%&)/%4='>-*7'#-"%&:?'(".0$,:='@,6'9-.("9*'&()*'+".-'/$.'+$09$*)&)$,?'&()*
"*9)."&)$,'&$'/$.0')*'),'-//-+&'*$0-&(),<';-.:'A-.0",='B%&'8'6$,C&'D,$5'&(-*-
&(),<*'0:*-4/?'-E"+&4:='8&'+$0-*'/.$0'&(-'%,+$,*+)$%*'",6',$&'/.$0'0:
D,$54-6<-F='G("&'6$':$%'5",&'0-'&$'"661'G("&-;-.')*'9%.-4:'.-"4)*&)+?
*4)+-H$/H4)/-?'5("&')*'";-."<-?'I%$&)6)",?'6$-*,C&'),&-.-*&'0-F='8'"0'/"*+),"&-6
#:'5("&')*'#-"%&)/%4?'*&.$,<?'(-"4&(:?'5("&')*'4);),<='8'*--D'(".0$,:='G(-,
(".0$,:')*'9.$6%+-6'8'"0'("99:='8'#-4)-;-?'5)&('&()*?'&("&'8'(";-'",*5-.-6
:$%=
3()*')*'5(:'!"#$%&'($)*$("#$+,-&')*'&(-'/),"4?',-+-**".:'*&-9'),'!)-/-,*&"(4C*
.-("#)4)&"&)$,='8&')*'&(-'/),"4'.-5.)&-'$/'&(-'9"*&J'$.?'/$.'(-.'9".&)*",*?'&(-'6-/),)&);-
+$,/).0"&)$,'&("&'*(-'5"*'"45":*'"'#-"%&:H/.-"D'."&(-.'&(",'"'($..)6'9.$9"<",6)*&=
8,*)6-'&(-'#-"%&)/%44:'9.$6%+-6'#$$D?'9($&$<."9(*'$/'&(-'9-./-+&?',$#4-'&.)#-='@,6'$,
&(-'K"+D-&?'9($&$<."9(*'$/'L0:'9-./-+&'A-.0",'5$0",2'M"*'N)&4-.'+"44-6'!)-/-,*&"(4O?
;",I%)*(),<'&(-'*4)<(&*'$/'()*&$.:?'"44'*0)4-*=
@60)&&-64:?')/'!"#$%&'($)*$("#$+,-&'5-.-',$&'*)<,-6'#:'P-,)'!)-/-,*&"(4'$,-'5$%46',$&
,-+-**".)4:'*%*9-+&'&("&'&(-*-'9($&$<."9(*'("6'#--,'&"D-,'#:'&(-'0$*&'),&-.-*&),<?
&"4-,&-6?'",6'-//-+&);-'".&)*&'$/'&(-'Q"R)'.-<)0-='S$*&'9-$94-'5($'4-"/'&(.$%<('!"#
%&'($)*$("#$+,-&'5)44'9.$#"#4:'4$$D'"&'&(-'9)+&%.-*'"*'$,-'0$.-'4"0-,&'/$.';",)*(),<
9.)0)&);-*?'$/'5()+('&(-'<.-"&-*&'-E"094-')*'PT;)HU&."%**'$,'&(-'B$.$.$'8,6)",*'),
B."R)4'),'!./'(#'$!.)0/1,#'='B%&')/'&(-'9($&$<."9(*'".-'-E"0),-6'+".-/%44:?'),
+$,K%,+&)$,'5)&('&(-'4-,<&(:'&-E&'5.)&&-,'#:'!)-/-,*&"(4?')&'#-+$0-*'+4-".'&("&'&(-:'".-
+$,&),%$%*'5)&('(-.'Q"R)'5$.D=
)-/-,*&"(4C*'+($)+-'$/'9($&$<."9()+'*%#K-+&V&()*'&.)#-'",6',$&'",$&(-.V
-E9.-**-*'"';-.:'9".&)+%4".'*4",&='U(-'),&-.9.-&*'&(-'Q%#"'"*'"'0:*&)+"4'9-$94-
5)&('",'-E&."$.6),".)4:'6-;-4$9-6'".&)*&)+'*-,*-'M$,-'$/'&(-'/-5'9$**-**)$,*'5()+(
-;-.:$,-'$5,*')*'"'4:.-O='3(-:'".-'"44'#-"%&)/%4'MQ%#"'0-,?'!)-/-,*&"(4',$&-*?'L(";-
",'"&(4-&)+'#%)46'.".-'),'",:'$&(-.'@/.)+",'&.)#-2OJ'"4&($%<('&(-:'(";-'&$'5$.D'(".6'&$
*%.;);-'),'&(-'%,($*9)&"#4-'6-*-.&'M&(-:'".-'+"&&4-'(-.6-.*'",6'(%,&-.*O?'*(-'),*)*&*'&("&
&(-).'9.),+)9"4'"+&);)&:')*'+-.-0$,)"4='!"#$%&'($)*$("#$+,-&')*'"#$%&'"'9.)0)&);)*&')6-"47
"'9$.&.")&'$/'"'9-$94-'*%#*)*&),<'%,&$%+(-6'#:'L+);)4)R"&)$,?2'),'"'9%.-'(".0$,:'5)&(
&(-).'-,;).$,0-,&=
@44'/$%.'$/'!)-/-,*&"(4C*'+$00)**)$,-6'Q"R)'/)40*V5(-&(-.'"#$%&'W".&:'+$,<.-**-*?
&(-'G-(.0"+(&?'$.'"&(4-&-*V+-4-#."&-'&(-'.-#).&('$/'&(-'#$6:'",6'$/'+$00%,)&:?
0-6)"&-6'&(.$%<('&(-'5$.*()9'$/'",')..-*)*&)#4-'4-"6-.='3(-:'/$44$5'6).-+&4:'/.$0'&(-
/)40*'$/'X",+D'),'5()+('*(-'"+&-6'",6'/.$0'(-.'$5,'!"#$23,#$%/4"(='3(-'/)+&)$,"4
0$%,&"),'/)40*'".-'&"4-*'$/'4$,<),<'/$.'()<('94"+-*?'$/'&(-'+("44-,<-'",6'$.6-"4'$/'&(-
Y
!
"#"$"%&'#()&*")+,-$-&-."/)&*")0'1-)2-#$3)',")"+-43)52)'4*-"."6)45$$7%-&8()-%)9*-4*
&,-7$+*)5.",)".",86'8),"'#-&8)-3)'4*-"."6):8)"43&'&-4)3"#2;45%&,5#)'%6)37:$-33-5%<)!"#
$%&'()*('"#(+,-%()'%)"#"=8)25,)&*")355%;&5;:";">&-%=7-3*"6):"'7&8)'%6)$83&-4)+59",3
52)+,-$-&-."3()4'%):")3""%)'3)&*")&*-,6)-%)?-"2"%3&'*#@3)&,-+&84*)52)2'34-3&).-37'#3<
A%)&*")2-,3&)+'%"#()&*")$57%&'-%)2-#$3()*"'.-#8)6,"33"6)+"5+#")3&,'-%)7+9',6)&5)+,5."
&*"$3"#."3)-%)&*")+7,-&8)52)&*")45#6/).-&'#-&8)-3)-6"%&-2-"6)9-&*)+*83-4'#)5,6"'#<)B-66#"
+'%"#()&*")2-#$3)$'6")25,)&*")0'1-)=5.",%$"%&C)!./,01"()*('"#(2/33)73"3
5.",+5+7#'&"6)9-6")3*5&3)52)$'33"6)2-=7,"3)'#&",%'&-%=)9-&*)4#53";7+3)&*'&)-35#'&")'
3-%=#")+'33-5%()')3-%=#")+",2"4&)37:$-33-5%/)4#"'%;47&)+"5+#")-%)7%-25,$3)=,57+)'%6
,"=,57+()'3)-2)3""D-%=)&*"),-=*&)4*5,"5=,'+*8)&5)">+,"33)&*"-,)"43&'&-4)2"'#&8<)A%
43501/%6()&*"),-4*"3&).-37'##8)52)'##)*",)2-#$3()5%")3&,'-%-%=)34'%&-#8)4#'6)2-=7,")'2&",
'%5&*",)3""D3)&*")"43&'38)52).-4&5,8()4*"","6)5%):8),'%D3)52)45$+'&,-5&3)-%)&*")3&'%63(
'##)7%6",)&*")3&-##)='1")52)&*"):"%-=%)E7+",;E+"4&'&5,()F-&#",()9*53")+,"3"%4")-%)&*"
3&'6-7$)45%3"4,'&"3)&*-3)"225,&<)G43501/%6()9*-4*)457#6)'3)9"##)*'."):""%)"%&-&#"6
!./,01"()*('"#(2/33()"$+*'3-1"3)&*'&)&*",")',")%5)"'38).-4&5,-"3<H)A%)&*")&*-,6)+'%"#(
!"#($%&'()*('"#(+,-%()&*")3&,-++"6;659%)+,-$-&-."3()'9'-&-%=)&*")2-%'#)5,6"'#)52)&*"-,
+,576)*",5-4)45$$7%-&8()&*"-,)-$$-%"%&)">&-%4&-5%()2,5#-4)'%6)+53")-%)&*")*5&)4#"'%
6"3",&<
A&)-3)I5&&",6J$$",7%=)&-$"<)K*")-$+5,&'%&)"."%&3)-%)07:')354-"&8)',")9,"3&#-%=
$'&4*"3)'%6)27%",'#3C).-.-6)"%457%&",3)52):"'7&-27#)$'#"):56-"3)'%6)6"'&*<)K*")07:'(
'3)?-"2"%3&'*#)-%&",+,"&3)&*"$()',")')&,-:")52)'"3&*"&"3<)L-D")&*")*"%%';6'7:"6)B'3'-
'%6)&*")35;4'##"6)B76$"%)52)0"9)I7-%"'()&*")07:')+'-%&)&*"$3"#."3)25,)'##)-$+5,&'%&
354-'#)'%6),"#-=-573)544'3-5%3()3$"',-%=)5%)&*"-,):56-"3)')9*-&";=,'8)'3*)9*-4*
7%$-3&'D':#8)37=="3&3)6"'&*<)?-"2"%3&'*#)4#'-$3)&5)*'.")',,-."6)MN73&)-%)&-$"(O)25,)-%
&*")2"9)8"',3)3-%4")&*"3")+*5&5=,'+*3)9",")&'D"%)&*")=#5,-573)07:')*'.")'#,"'68
3&',&"6):"-%=)45,,7+&"6):8)$5%"8()N5:3()4#5&*"3<)!%6()+,5:':#8():8)9',P9*-4*
?-"2"%3&'*#)%".",)$"%&-5%3)3-%4")3*")4',"3)5%#8)':57&)$8&*()%5&)*-3&5,8<)K*")4-.-#)9',
&*'&)*'3):""%)&"',-%=)7+)&*'&)+',&)52)E76'%)25,)')651"%)8"',3)$73&)*'."):,57=*&)9-&*)-&
%"9)&"4*%5#5=8)'%6)')#5&)52)6"&,-&73<
#&*57=*)&*")07:')',"):#'4D()%5&)!,8'%()?-"2"%3&'*#@3)+5,&,'-&)52)&*"$)-3)45%3-3&"%&
9-&*)35$")52)&*")#',=",)&*"$"3)52)0'1-)-6"5#5=8C)&*")45%&,'3&):"&9""%)&*")4#"'%
'%6)&*")-$+7,"()&*")-%45,,7+&-:#")'%6)&*")6"2-#"6()&*")+*83-4'#)'%6)&*")$"%&'#()&*"
N5827#)'%6)&*")4,-&-4'#<)!)+,-%4-+'#)'4473'&-5%)'='-%3&)&*")Q"93)9-&*-%)0'1-)I",$'%8
9'3)&*'&)&*"8)9",")7,:'%()-%&"##"4&7'#():"',",3)52)')6"3&,74&-."()45,,7+&-%=)M4,-&-4'#
3+-,-&<O)GK*"):55D):5%2-,")52)B'8()RSTT()9'3)#'7%4*"6)9-&*)I5"::"#3@3)4,8C)MK*")'="
52)">&,"$")Q"9-3*)-%&"##"4&7'#-3$)*'3)%59)"%6"6()'%6)&*")3744"33)52)&*")I",$'%
,".5#7&-5%)*'3)'='-%)=-."%)&*"),-=*&)52)9'8)&5)&*")I",$'%)3+-,-&<O)!%6)9*"%)I5"::"#3
522-4-'##8)25,:'6")',&)4,-&-4-3$)-%)05."$:",()RSTU()-&)9'3)25,)*'.-%=)M&8+-4'##8)Q"9-3*
!
"#$%"&'()'*+$#$*",#-.'/0""%12'"+,'+,$3'(4,#'"+,'+,$#"5'"+,'%13%4%30$6'(4,#'"+,
*(7701%"85'%1",66,*"'(4,#'),,6%129:';(<'%"'%&'=*%4%6%>$"%(1-'%"&,6)'"+$"'%&'"+,'3,)%6,#9
?+$"'%&'3%&"%1*"%4,'$@(0"'"+,')$&*%&"'4,#&%(1'()'"+,'(63'%3,$'()'"+,';(@6,'A$4$2,'%&'%"&
*(1",7/"')(#'$66'"+$"'%&'#,)6,*"%4,5'*#%"%*$65'$13'/60#$6%&"%*9'!1'B%,),1&"$+6C&'*$&,@((D'()
/#%7%"%4,'4%#"0,5'%"'%&'+$#368'"+,'%1"#%*$*8'$13'&0@"6,"8'()'/#%7%"%4,'78"+5'&(*%$6
(#2$1%>$"%(15'(#'"+%1D%12'"+$"'$#,'@,%12',E"(66,39'A+,'%&',&/,*%$668',1"+0&%$&"%*'$@(0"
"+,'<$8&'"+,';0@$'$#,',E$6",3'$13'01%)%,3'@8'"+,'/+8&%*$6'(#3,$6&'()'"+,%#'<#,&"6%12
7$"*+,&5'%1'<+%*+'"+,'=+,$4%12'$13'&"#$%1%12-';0@$'7,15'=+02,'70&*6,&'@062%125-
"+#(<'(1,'$1("+,#'"('"+,'2#(013F)%2+"%12'1("')(#'7$",#%$6'/#%>,&'@0"'=)(#'"+,'#,1,<$6
()'&$*#,3'4%"$6%"8'()'"+,'"#%@,9-
?#,&"6%12'$13'"+,'#%"0$6&'"+$"'2('<%"+'%"5'%1'B%,),1&"$+6C&'$**(01"5'@%13'"+,';0@$
"(2,"+,#.
?#,&"6%12'/#(4%3,&5')(#'"+,';0@$5'70*+'()'<+$"'"+,'&,$#*+')(#'<,$6"+5'/(<,#
$13'&"$"0&'3(,&')(#'"+,'%13%4%30$6'%1'"+,'?,&"9'?#,&"6%12'2,1,#$",&'"+,'7(&"
/$&&%(1$",'6(8$6"8'$13',7("%(1$6'/$#"%*%/$"%(1'%1'"+,'",$7C&'&0//(#",#&5'<+(
$#,5'%1')$*"5'"+,',1"%#,'=1(1G/6$8%12-'/(/06$"%(1'()'"+,'4%66$2,H9
I?#,&"6%12'%&J'$'@$&%*'*(1*,/"'%1'"+,'%3,$'()'=;0@$-'$&'$'<+(6,9'!"&'%7/(#"$1*,
$&'"+,',E/#,&&%(1'()'"+,'"("$6'(0"6((D'()'"+,'K,&$D%1'$13'L(#(12('*$11("'@,
,E$22,#$",3M'%"'%&'"+,',E/#,&&%(1'%1'"+,'4%&%@6,'$13'&(*%$6'<(#63'()'"+,'%14%&%@6,
<(#63'()'"+,'7%13'$13'()'"+,'&/%#%"9
!1'*,6,@#$"%12'$'&(*%,"8'<+,#,'"+,',E+%@%"%(1'()'/+8&%*$6'&D%66'$13'*(0#$2,'$13'"+,
4%*"(#8'()'"+,'&"#(12,#'7$1'(4,#'"+,'<,$D,#'+$4,5'$"'6,$&"'$&'&+,'&,,&'%"5'@,*(7,'"+,
01%)8%12'&87@(6'()'"+,'*(7701$6'*06"0#,F<+,#,'&0**,&&'%1')%2+"%12'%&'"+,'=7$%1
$&/%#$"%(1'()'$'7$1C&'6%),-FB%,),1&"$+6'&,,7&'(168'"('+$4,'7(3%)%,3'"+,'%3,$&'()'+,#
;$>%')%67&9'N13'&+,'&,,7&'#%2+"'(1'"$#2,"'<%"+'+,#'*+(%*,5'$&'$'/+("(2#$/+%*'&0@O,*"5
()'$'&(*%,"8'<+(&,'7(&"',1"+0&%$&"%*'$13'6$4%&+'*,#,7(18'%&'"+,')01,#$69'!"#$%&$
'()*+)9
"'7$8'&,,7'012#$",)06'$13'#$1*(#(0&'"('#,)0&,'"('*0"'6((&,',-)%.$/+%01%+-)%2(3$
)#(7'B%,),1&"$+6C&'/$&"5'@0"'"+,#,'$#,'&$60"$#8'6,&&(1&'"('@,'6,$#1,3')#(7'"+,
*(1"%10%"8'()'+,#'<(#D'$&'<,66'$&')#(7'"+$"'*0#%(0&'$13'%7/6$*$@6,'#,*,1"',4,1"F+,#
#,+$@%6%"$"%(19'P"+,#'$#"%&"&'<+(',7@#$*,3')$&*%&75'&0*+'$&'QR6%1,'$13'S,11'$13
K$#%1,""%'$13'T(013'U1("'"('7,1"%(1'"+(&,5'6%D,'T$@&"'$13'T%#$13,66('$13'V$7&015
<+('@,*$7,')$&*%&"&'%1'"+,'3,*6%1,'()'"+,%#'/(<,#&:5'$#,'1("'%1&"#0*"%4,'%1'"+,'&$7,
<$89'W(#'B%,),1&"$+6'%&'"+,'(168'7$O(#'$#"%&"'<+('<$&'*(7/6,",68'%3,1"%)%,3'<%"+'"+,
;$>%',#$'$13'<+(&,'<(#DF1("'(168'30#%12'"+,'X+%#3'B,%*+'@0"'"+%#"8'8,$#&'$)",#'%"&
)$66F+$&'*(1&%&",1"68'%660&"#$",3'&(7,'()'"+,'"+,7,&'()')$&*%&"'$,&"+,"%*&9
W$&*%&"'$,&"+,"%*&'%1*603,'@0"'2(')$#'@,8(13'"+,'#$"+,#'&/,*%$6'*,6,@#$"%(1'()'"+,
!
"#$%$&$'()&*)+(),*-./)$.)!"#$%&'(0)12(3)456*),5*7),#*%)84./)9-6&$,3:)4)"#(*;;-"4&$*.
7$&2)6$&-4&$*.6)*,);*.&#*5<)6-+%$66$'()+(24'$*#<)4./)(='4>4.&)(,,*#&?)&2(3)(=45&)&7*
6((%$.>53)*""*6$&()6&4&(6<)(>*%4.$4)4./)6(#'$&-/(0)12()#(54&$*.6)*,)/*%$.4&$*.)4./
(.654'(%(.&)&4@()&2(),*#%)*,)4);24#4;&(#$6&$;)"4>(4.A)&2()%466$.>)*,)>#*-"6)*,
"(*"5(?)&2()&-#.$.>)*,)"(*"5()$.&*)&2$.>6?)&2()%-5&$"5$;4&$*.)*,)&2$.>6)4./)>#*-"$.>)*,
"(*"5(B&2$.>6)4#*-./)4.)455C"*7(#,-5<)23".*&$;)5(4/(#),$>-#()*#),*#;(0)12(),46;$6&
/#4%4&-#>3);(.&(#6)*.)&2()*#>$46&$;).64;&$*.6)+(&7((.)%$>2&3),*#;(6)4./)&2($#
"-""(&60)!&6);2*#(*>#4"23)45&(#.4&(6)+(&7((.);(46(5(66)%*&$*.)4./)4);*.>(45(/<
6&4&$;<)D'$#$5(E)"*6$.>0)F46;$6&)4#&)>5*#$,$(6)6-##(./(#?)$&)(=45&6)%$./5(66.(66A)$&
>54%*#$G(6)/(4&20
H-;2)4#&)$6)24#/53);*.,$.(/)&*)7*#@6)54+(5(/)46),46;$6&)*#)"#*/-;(/)-./(#),46;$6&
>*'(#.%(.&60)81*)@((")&*),$5%6)*.53<)I45&)J$6.(3K6))(*+(,-(<)L-6+3)L(#@(5(3K6)!"#
.(*/0,$122$3#4#<)4./)M-+#$;@K6)5667);4.)456*)+()6((.)46)$55-6&$.>);(#&4$.)*,)&2(
,*#%45)6&#-;&-#(6<)4./)&2()&2(%(6<)*,),46;$6&)4#&0:)N./<)*,);*-#6(<),(4&-#(6)*,),46;$6&)4#&
"#*5$,(#4&()$.)&2()*,,$;$45)4#&)*,);*%%-.$6&);*-.&#$(60)12()&46&(6),*#)&2()%*.-%(.&45
4./),*#)%466)*+($64.;()&*)&2()2(#*)4#();*%%*.)&*)+*&2),46;$6&)4./);*%%-.$6&)4#&<
#(,5(;&$.>)&2()'$(7)*,)455)&*&45$&4#$4.)#(>$%(6)&24&)4#&)246)&2(),-.;&$*.)*,
D$%%*#&45$G$.>E)$&6)5(4/(#6)4./)/*;&#$.(60)12()#(./(#$.>)*,)%*'(%(.&)$.)>#4./$*6(
4./)#$>$/)"4&&(#.6)$6)4.*&2(#)(5(%(.&)$.);*%%*.<),*#)6-;2);2*#(*>#4"23)#(2(4#6(6)&2(
'(#3)-.$&3)*,)&2()"*5$&30)O(.;()%466)4&25(&$;)/(%*.6&$*.6<)4);2*#(*>#4"23)4./
/$6"543)*,)+*/$(6<)4#()4)'45-(/)4;&$'$&3)$.)455)&*&45$&4#$4.);*-.&#$(60
L-&),46;$6&)4#&)246);24#4;&(#$6&$;6)72$;2)62*7)$&)&*)+(<)$.)"4#&<)4)6"(;$45)'4#$4.&)*,
&*&45$&4#$4.)4#&0)12()*,,$;$45)4#&)*,);*-.&#$(6)5$@()&2()H*'$(&)P.$*.)4./)Q2$.4)$6)+46(/
*.)4)-&*"$4.)%*#45$&30)F46;$6&)4#&)/$6"5436)4)-&*"$4.)4(6&2(&$;6R&24&)*,)"236$;45
"(#,(;&$*.0)S4$.&(#6)4./)6;-5"&*#6)-./(#)&2()T4G$6)*,&(.)/("$;&(/)&2().-/(<)+-&)&2(3
7(#(),*#+$//(.)&*)62*7)4.3)+*/$53)$%"(#,(;&$*.60)12($#).-/(6)5**@)5$@()"$;&-#(6)$.
%45()2(45&2)%4>4G$.(6A)"$.-"6)72$;2)4#()+*&2)64.;&$%*.$*-653)46(=-45)4./)8$.)4
&(;2.$;45)6(.6(:)"*#.*>#4"2$;<),*#)&2(3)24'()&2()"(#,(;&$*.)*,)4),4.&4630
U$(,(.6&425K6)"#*%*&$*.)*,)&2()+(4-&$,-5<)$&)%-6&)+()64$/<)746)%-;2)%*#(
6*"2$6&$;4&(/0)L(4-&3)$.)U$(,(.6&425K6)#("#(6(.&4&$*.6)$6).('(#)7$&5(66<)46)$&)$6)$.)*&2(#
T4G$)'$6-45)4#&0)H2()4""#(;$4&(/)4)#4.>()*,)+*/3)&3"(6?)$.)%4&&(#6)*,)+(4-&3)62()746
.*&)4)#4;$6&0)N./)62()/*(6)62*7)724&);*-5/)+();*.6$/(#(/)4.)$%"(#,(;&$*.)+3)%*#(
.4$'()T4G$)4(6&2(&$;)6&4./4#/6<)>(.-$.()(,,*#&R46)$.)&2()6$.$.>)'($.(/)+*/$(6)4./
"*""$.>)(3(6)*,)&2()4&25(&(6)$.)829:;-(<0
.);*..&)&*)&2()46(=-45);246&(.(66)*,)*,,$;$45);*%%-.$6&)4#&<)T4G$)4#&)$6)+*&2
"#-#$(.&)4./)$/(45$G$.>0)N)-&*"$4.)4(6&2(&$;6)8$/(.&$&3)46)4)+$*5*>$;45)>$'(.:)$%"5$(6
4.)$/(45)(#*&$;$6%)86(=-45$&3);*.'(#&(/)$.&*)&2()%4>.(&$6%)*,)5(4/(#6)4./)&2()9*3)*,
,*55*7(#6:0)12(),46;$6&)$/(45)$6)&*).6,*#%)6(=-45)(.(#>3)$.&*)4)D6"$#$&-45E),*#;(<),*#
!"#$%#&#'(!$)'$!"#$*)++,&(!-.$/"#$#0)!(*$(1$2342-1$50#1#&!$21$2$!#+5!2!()&6$4(!"$!"#
+)1!$27+(02%3#$0#15)&1#$%#(&8$2$"#0)(*$0#50#11()&$)'$!"#$1#9,23$(+5,31#.$/",1
:(#'#&1!2"3$#9532(&1$4"-$;,%2$+200(28#16$(&$*)&!021!$!)$!"#(0$153#&7(7$',ऌ
(&<)3<#$&)$*#0#+)&(#1$)0$'#21!1.$=>$;,%2$+2&?1$80#2!#1!$7#1(0#$(1$&)!$,&()&$4(!"$2
4)+2&$%,!$!)$%#$2$8))7$40#1!3#06$!"#0#%-$2''(0+(&8$!"#$50(&*(53#$)'$2%1!#+(),1.
/"#$;,%2$72&*#$*#0#+)&(#1$20#$&)!$1#&1,23$)**21()&1$%,!$02!"#0$@'#1!(<231$)'
*"21!(!-?A)'$*)&!2(&+#&!$)'$!"#$3('#$')0*#.B
C&$!"#$)''(*(23$20!$)'$*)++,&(1!$*),&!0(#16$!"#0#$(1$1)+#$7#+)*02*-$)'$!"#$4(33D$!"#
4)0E#01$2&7$5#212&!1$20#$1)+#!(+#1$1")4&$7)(&8$1)+#!"(&8$)&$!"#(0$)4&.$C&$'21*(1!
20!6$!"#$4(33$2342-1$0#'3#*!1$!"#$*)&!2*!$%#!4##&$3#27#01$2&7$')33)4#01.$C&$'21*(1!$2&7
*)++,&(1!$5)3(!(*16$!"#$4(33$(1$1!28#7$5,%3(*3-6$(&$!"#$702+2$)'$!"#$3#27#0$2&7$!"#
*")0,1.$F"2!$(1$(&!#0#1!(&8$2%),!$!"#$0#32!()&$%#!4##&$5)3(!(*1$2&7$20!$,&7#0$;2!()&23
G)*(23(1+$(1$&)!$!"2!$20!$421$1,%)07(&2!#7$!)$5)3(!(*23$&##716$')0$!"(1$(1$!0,#$)'$233
7(*!2!)01"(516$%)!"$)'$!"#$0(8"!$2&7$!"#$3#'!6$%,!$!"2!$5)3(!(*1$2550)50(2!#7$!"#$0"#!)0(*
)'$20!A20!$(&$(!1$32!#$0)+2&!(*$5"21#.$H)3(!(*1$(1$=!"#$"(8"#1!$2&7$+)1!$*)+50#"#&1(<#
20!$!"#0#$(16B$I)#%%#31$12(7$(&$JKLL6$=2&7$4#$4")$1"25#$+)7#0&$I#0+2&$5)3(*-$'##3
),01#3<#1$!)$%#$20!(1!1M!"#$!21E$)'$20!$2&7$!"#$20!(1!$N%#(&8O$!)$')0+6$!)$8(<#$1"25#6$!)
0#+)<#$!"#$7(1#21#7$2&7$*0#2!#$'0##7)+$')0$!"#$"#23!"-.B
;2P($20!$"21$2342-1$%##&$!"),8"!$)'$21$0#2*!()&20-6$7#'(2&!3-$),!1(7#$!"#$*#&!,0-?1
+2(&1!0#2+$)'$2*"(#<#+#&!$(&$!"#$20!1.$Q,!$R,1!$')0$!"(1$0#21)&$(!$"21$%##&$82(&(&8$2
532*#$(&$*)&!#+5)020-$!21!#.$/"#$3#'!S4(&8$)082&(P#01$)'$2$*,00#&!$#9"(%(!()&$)'$;2P(
52(&!(&8$2&7$1*,35!,0#$T!"#$'(01!$1(&*#$!"#$420U$(&$V02&E',0!$"2<#$'),&76$!)$!"#(0
7(1+2-6$!"#$2!!#&72&*#$#9*#11(<#3-$3208#$2&7$"2073-$21$1#0(),1S+(&7#7$21$!"#-$"27
")5#7.$W<#&$4"#&$'32&E#7$4(!"$7(72*!(*$27+)&(!()&1$'0)+$Q0#*"!$2&7$*)&*#&!02!()&
*2+5$5")!)8025"16$;2P($20!$1!(33$*),37$0#+(&7$!"#1#$*0)471$)'A)!"#0$20!.$C!$3))E1
72!#7$&)46$2&7$!"#0#')0#$+)0#$3(E#$)!"#0$20!$1!-3#1$)'$!"#$JKLX16$&)!2%3-$>0!$Y#*).$/"#
12+#$2#1!"#!(*$0#15)&1(%3#$')0$!"#$%0)&P#$*)3)11($)'$>0&)$Q0#E#0AZ(!3#0?1$T2&76
%0(#'3-6$[)*!#2,?1U$'2<)0(!#$1*,35!)0A2&7$)'$\)1#5"$/")02E$231)$50)7,*#7$!"#
+,1*3#S%),&7$>!321$(&$'0)&!$)'$]2&"2!!2&?1$:)*E#'#33#0$[#&!#0$2&7$!"#$'2(&!3-$3#47
+)&,+#&!$!)$!"#$'233#&$7),8"%)-1$)'$F)037$F20$C$(&1(7#$H"(327#35"(2?1$/"(0!(#!"
G!0##!$02(30)27$1!2!()&.
/)$2&$,&1)5"(1!(*2!#7$5,%3(*$(&$I#0+2&-6$!"#$255#23$)'$;2P($20!$+2-$"2<#$%##&$!"2!$(!
421$1(+53#6$'(8,02!(<#6$#+)!()&23^$&)!$(&!#33#*!,23^$2$0#3(#'$'0)+$!"#$7#+2&7(&8
*)+53#9(!(#1$)'$+)7#0&(1!$20!.$/)$2$+)0#$1)5"(1!(*2!#7$5,%3(*$&)46$!"#$255#23$(1$520!3-
!)$!"2!$2<(7(!-$4"(*"$(1$&)4$%#&!$)&$0#!0(#<(&8$233$!"#$1!-3#1$)'$!"#$521!6$#15#*(233-$!"#
+)1!$5(33)0(#7.$Q,!$2$0#<(<23$)'$;2P($20!6$')33)4(&8$!"#$0#<(<231$)'$>0!$;),<#2,6$H0#S
:25"2#3(!#$52(&!(&86$2&7$>0!$Y#*)6$(1$+)1!$,&3(E#3-.$/"#$52(&!(&8$2&7$1*,35!,0#$20#$&)!
R,1!$1#&!#&!(),1^$!"#-$20#$21!)&(1"(&83-$+#28#0$21$20!.$Q,!$50#*(1#3-$!"#1#$_,23(!(#1
!
"#$"%&'(&)(*&'%)'*))+',%'-,."',/%'0"%1'+#)0"#2',#3'4#"22&/"#2'3&%,516&#%7',4','8)/6')8
9)(',/%:
"&8%,1*;4'0)/+'"4'8/&&')8'%1&',6,%&</"46',#3'#,=$&%>')#&'8"#34'"#')%1&/',/%
(/)3<5&3'"#'%1&'-,."'&/,7'?<%'"%'4%"**'(/)6)%&4'6,#@')8'%1&'4,6&'$,*<&4:'A#3'%1&
4,6&'$&/@'6)3&/#'4"?"*"%@'5,#',((/&5",%&'1&/',4'0&**:'B1&'"/)#"&4')8'()(
4)(1"4%"5,%")#'6,+&'8)/','0,@')8'*))+"#2',%'!"&8%,1*;4'0)/+'"#'01"51'#)%')#*@'"%4
8)/6,*'?&,<%@'?<%'"%4'()*"%"5,*'8&/$)/',/&'$"&0&3',4','8)/6')8',&4%1&%"5'&C5&44:'A#3
,*)#24"3&'%1"4'3&%,51&3',((/&5",%")#')8'!"&8%,1*'"4','/&4()#4&7'01&%1&/'5)#45")<4
)/'<#5)#45")<47'%)'%1&'4<?D&5%'"%4&*87'01"51'2"$&4'1&/'0)/+'"%4'()0&/:
!"#$%&'()*(+',(-#..',#3'/.0%',/&'<#3)<?%&3*@'4<(&/?'8"*64'E%1&@'6,@'?&'%1&'%0)
2/&,%&4%'3)5<6&#%,/"&4'&$&/'6,3&F7'?<%'%1&@',/&'#)%'/&,**@'"6()/%,#%'"#'%1&'1"4%)/@')8
5"#&6,',4',#',/%'8)/6:'-)?)3@'6,+"#2'8"*64'%)3,@',**<3&4'%)'!"&8%,1*7'01"*&'6,#@
8"*6'6,+&/4'E"#5*<3"#2'6@4&*8F'/&2,/3'%1&'&,/*@'G)$"&%'3"/&5%)/'HD"2,'I&/%)$',4',#
"#&C1,<4%"?*&'(/)$)5,%")#',#3'4)</5&')8'"3&,4',?)<%'8"*6'*,#2<,2&:'J&%'"%'"4',/2<,?*&
%1,%'I&/%)$K%1&'6)4%'"6()/%,#%'8"2</&'"#'3)5<6&#%,/@'8"*64K#&$&/'6,3&','8"*6',4
(</&*@'&88&5%"$&',#3'%1/"**"#2',4'!"#$%&'()*(+',(-#..')/'/.0%:'EL8'5)</4&'I&/%)$
#&$&/'1,3'%1&'6&,#4',%'1"4'3"4()4,*'%1,%'!"&8%,1*'1,3:'B1&'G)$"&%'2)$&/#6&#%;4
?<32&%'8)/'(/)(,2,#3,'8"*64'0,4'*&44'%1,#'*,$"41:F'G"6"*,/*@7'!',(314+()*(+',(5$61'"4',
4%<##"#2'?))+')8'(1)%)2/,(147'?<%')#&'5,#;%'"6,2"#&'%1,%'"%'5)<*3'?&5)6&'"6()/%,#%
%)')%1&/'(1)%)2/,(1&/47'%1,%'"%'5)<*3'51,#2&'%1&'0,@'(&)(*&'4&&',#3'(1)%)2/,(1'E,4
1,4'%1&'0)/+')8'M&4%)#',#3'M,*+&/'N$,#4',#3'H",#&'A/?<4F:
O#'3&,*"#2'0"%1'(/)(,2,#3"4%"5',/%')#'%1&'*&8%',#3')#'%1&'/"21%7','3)<?*&'4%,#3,/3
(/&$,"*4:'P&0'(&)(*&'0)<*3',36"%'%1,%'%1&'6,#"(<*,%")#')8'&6)%")#4'"#'I&/%)$;4'*,%&/
8"*64',#3'"#'!"&8%,1*;4'(/)$"3&4'4"6"*,/'+"#34')8'&C1"*,/,%")#:'M1&#'&C(*,"#"#2
01@'%1&@',/&'6)$&37'6)4%'(&)(*&',/&'4&#%"6&#%,*'"#'%1&'5,4&')8'I&/%)$',#3'3"41)#&4%
"#'%1&'5,4&')8'!"&8%,1*:'B1<4'I&/%)$;4'0)/+'&$)+&4','2))3'3&,*')8'6)/,*'4@6(,%1@
)#'%1&'(,/%')8'1"4'5"#>(1"*&',<3"&',**')$&/'%1&'0)/*3Q'(&)(*&'5)#4&#%'%)'?&'6)$&3:
M"%1'!"&8%,1*;4'0)/+7'%1&'%/"5+'"4'%)'8"*%&/')<%'%1&'#)C")<4'()*"%"5,*'"3&)*)2@')8'1&/
8"*647'*&,$"#2')#*@'%1&"/'R,&4%1&%"5S'6&/"%4:
B1<4'(/,"4&')8'I&/%)$;4'8"*64',*0,@4'(/&4<(()4&4'%1&'+#)0*&32&'%1,%'1&'0,4',#
,%%/,5%"$&'(&/4)#',#3',#'"#%&**"2&#%',#3')/"2"#,*',/%"4%T%1"#+&/7'&$&#%<,**@'5/<41&3'?@
%1&'3"5%,%)/41"('01"51'1&'4&/$&3:'A#3'6)4%')8'%1&'5)#%&6()/,/@',<3"&'8)/'I&/%)$
E,4'8)/'N"4%&"#',#3'9<3)$+"#F',44<6&4'%1,%'%1&'8"*6'(/)(,2,#3"4%4'"#'%1&'&,/*@
@&,/4')8'%1&'G)$"&%'U#")#'0&/&'"**<4%/,%"#2','#)?*&'"3&,*7'1)0&$&/'6<51'"%'0,4
?&%/,@&3'"#'(/,5%"5&:'V<%'(/,"4&')8'!"&8%,1*'1,4'#)'4<51'/&5)</4&7'4"#5&'#)?)3@7'#)%
&$&#'1&/'/&1,?"*"%,%)/47'1,4'6,#,2&3'%)'6,+&'!"&8%,1*'4&&6'&$&#'*"+,?*&Q',#3'41&
"4'#)'%1"#+&/',%',**:'W)/&'"6()/%,#%7'"%'"4'2&#&/,**@'%1)<21%'%1,%'-,%")#,*'G)5",*"46
4%,#34')#*@'8)/'?/<%"41#&44',#3'%&//)/:'V<%'%1"4'"4'#)%'%/<&:'-,%")#,*'G)5",*"46K)/7
!
"#$%&'$#()*+,&-(./0."1(*.#&.2(3).&-#$&(3&0)%(*,&(3)%&24(2&0.&(*.#&5%$.0.2%32&2#)(+,
63)%$%$&'(33%$.7&24%&0)%(*&#-&*0-%&(.&($2,&24%&/6*2&#-&'%(62+,&24%&-%20.40."&#-
/#6$(8%,&24%&)0..#*620#3&#-&(*0%3(20#3&03&%/.2(20/&-%%*038.&#-&/#""6302+9&24%
$%56)0(20#3&#-&24%&032%**%/29&24%&-("0*+&#-&"(3&:63)%$&24%&5($%324##)&#-&*%()%$.;<
4%.%&0)%(*.&($%&=0=0)&(3)&"#=038&2#&"(3+&5%#5*%,&(3)&02&0.&)0.4#3%.21(3)
2(62#*#80/(*12#&.(+&24(2%&0.&(--%/2%)&'+&!"#$%&'()*(+',(-#..&(3)&/.0%
'%/(6.%&24%+&>%$%&"()%&'+&(&-0*"&"(?%$&#-&8%306.<&@0%-%3.2(4*A.&-0*".&($%&.20**
%--%/20=%&'%/(6.%,&("#38%$&$%(.#3.,&24%0$&*#38038.&($%&.20**&-%*2,&'%/(6.%&24%0$
/#32%32&0.&(&$#"(320/&0)%(*&2#&>40/4&"(3+&/#32036%&2#&'%&(22(/4%),&(3)&>40/4&0.
%B5$%..%)&03&.6/4&)0=%$.%&"#)%.&#-&/6*26$(*&)0..0)%3/%&(3)&5$#5(8(3)(&-#$&3%>&-#$".
#-&/#""6302+&(.&24%&+#624C$#/?&/6*26$%,&5$0"(*&24%$(5+,&D(038A.&(3205.+/40(2$+,&!40$)
E#$*)&/("5F-#**#>038,&(3)&'%*0%-&03&86$6.&(3)&24%&#//6*2<&!4%&%B(*2(20#3&#-
/#""6302+&)#%.&3#2&5$%/*6)%&24%&.%($/4&-#$&('.#*62%&*%()%$.4059&24%&/#32$($+,&02
"(+&03%=02('*+&*%()&2#&02<&:G#2&.6$5$0.038*+,&(&-(0$&36"'%$&#-&24%&+#638&5%#5*%&3#>
5$#.2$(2038&24%".%*=%.&'%-#$%&86$6.&(3)&.6'"022038&2#&24%&"#.2&8$#2%.H6%*+&(62#/$(20/
)0./05*03%&($%&-#$"%$&(320F(624#$02($0(3.&(3)&(320F%*020.2.&#-&24%&IJKL.<;&M3)
@0%-%3.2(4*A.&)%=#20#3&2#&24%&G6'(,&(&2$0'%&3#2&$6*%)&'+%&.65$%"%&/40%-&#$&.4("(3,
)#%.&3#2&"%(3&.4%&4(.&*#.2&4%$&%+%&-#$&24%&.%)6/%$F5%$-#$"%$1%=%3&0-&.4%&4(.&2#&.%22*%
-#$&(&3#35#*020/0(3<&N03/%&.4%&-030.4%)&4%$&>#$?&24%&G6'(&.#"%&+%($.&(8#,%&#-
4%$&"(03&5$#O%/2.&4(.&'%%3&54#2#8$(54038&P0/?&Q(88%$<
@0%-%3.2(4*A.&/6$$%32&)%FG(R0-0/(20#3&(3)&=03)0/(20#3&(.&03)#"02('*%&5$0%.2%..&#-&24%
'%(620-6*1(.&(&-0*"&"(?%$&(3),&3#>,&(.&(&54#2#8$(54%$1)#&3#2&(686$&>%**&-#$&24%
?%%33%..&#-&/6$$%32&('0*020%.&2#&)%2%/2&24%&-(./0.2&*#38038.&03$&"0).2<&!4%&-#$/%&#-
4%$&>#$?&0.&5$%/0.%*+&03&24%&/#3203602+&#-&02.&5#*020/(*&(3)&(%.24%20/&0)%(.<&E4(2&0.
032%$%.2038&0.&24(2&240.&>(./%&.%%3&.#&"6/4&"#$%&/*%($*+&24(3&02&.%%".&2#&'%&3#><
SS
N%/#3)&TB40'02<&U%$%&0.&(&'##?&2#&'%&56$/4(.%)&(2&(0$5#$2&"(8(R03%&.2(3).&(3)&03
V()6*2W&'##?.2#$%.,&(&$%*(20=%*+&/4%(5&5(5%$'(/?,&3#2&(3&%B5%3.0=%&/#--%%&2('*%&02%"
(55%(*038&2#&(%.24%2%.&(3)&24%&3#,45&,4614+&*0?%&!',(716+()*(+',(8$31<&X%2&'#24&'##?.
.4($%&(&/%$2(03&/#""6302+&#-&"#$(*&#$0803,&(&/%$2(03&$##2&5$%#//65(20#3<&!4%&.("%
5$%#//65(20#3&(2&)0--%$%32&.2(8%.&#-&%=#*620#3124%&0)%(.&24(2&(30"(2%&!',(716+()*(+',
8$31&'%038&*%..>&#-&24%&"#$(*&/*#.%2&24(3&24%&/$6)%$,&"#$%&%--0/0%32&0)%(&24(2&*0%.
'%403)&99(:,;1.#1<&!4#684&99(:,;1.#1&0.&(&$%.5%/2('*%&Y$020.4F"()%&/#"50*(20#3&:>024
(&24$%%F5(8%&40.2#$0/(*&5$%-(/%&(3)&)%2(0*%)&3#2%.&03&24%&'(/?;,%&?3#>.&24(2&02.
(55%(*&0.&3#2&./4#*($*+&'62&.%B6(*<&!',(716+()*(+',(8$31,&>4(2%=%$&24%&)6'0#6.
(%.24%20/&63)%$*+038&02,&0.&/%$2(03*+&3#2&5#$3#8$(540/9&99(:,;1.#1&0.<&!4%&/#=%$&(*$%()+
"(?%.&24(2&/*%($<&M/$#..&24%&*($8%&'*(/?&.>(.20?(&03&24%&G(R0&-*(8&0.&(&)0(8#3(*&+%**#>
!
"#$%&'()*%+*($',-"(./0'$(122(3$%44%,5#(678$9:747$(;*7#7<$,&*"=(,5-(#*'(&$%+'>('?,+#4@
#*'(),@(,("#%+A'$()%#*(#*'(&$%+'(75(%#(8"'-(#7(B'(,CC%?'-D&,$#(#',"'>(&,$#(-'C'$'5+'(#7
+'5"7$"*%&D-',-(+'5#'$>(+70'$%5<(#*'(E7-'4F"(<'5%#,4%,>(75(#*'(+70'$"(7C
&7$57<$,&*%+(E,<,G%5'"H
5%C7$E"("8<<'"#(C,5#,"%'"(7C(+7EE85%#@>(7$-'$>(%-'5#%#@(I#*$78<*($,5A">(B,-<'">
E'-,4"()*%+*(.",@=()*7(#*'()',$'$(%"(,5-()*,#(*'(*,"(-75'J(*%"()7$#*(%"
$'+7<5%G'-K>(+7E&'#'5+'>(4'<%#%E,#'(,8#*7$%#@>(#*'(4'<%#%E,#'('?'$+%"'(7C(0%74'5+'H(38#
85%C7$E"(,$'(57#(#*'(",E'(#*%5<(,"(&*7#7<$,&*"(7C(85%C7$E"H(;*7#7<$,&*"(7C(85%C7$E"
,$'('$7#%+(E,#'$%,4>(,5-(&,$#%+84,$4@(&*7#7<$,&*"(7C(LL(85%C7$E"H(M*@(#*'(LLN(3'+,8"'
#*'(LL("''E"(#7(B'(#*'(E7"#(&'$C'+#(%5+,$5,#%75(7C(C,"+%"E(%5(%#"(70'$#(,""'$#%75(7C(#*'
$%<*#'78"5'""(7C(0%74'5+'>(#*'($%<*#(#7(*,0'(#7#,4(&7)'$(70'$(7#*'$"(,5-(#7(#$',#(#*'E
,"(,B"748#'4@(%5C'$%7$H(O#(),"(%5(#*'(LL(#*,#(#*%"(,""'$#%75("''E'-(E7"#(+7E&4'#'>
B'+,8"'(#*'@(,+#'-(%#(78#(%5(,("%5<84,$4@(B$8#,4(,5-('CC%+%'5#(E,55'$P(,5-(B'+,8"'(#*'@
-$,E,#%G'-(%#(B@(4%5A%5<(#*'E"'40'"(#7(+'$#,%5(,'"#*'#%+("#,5-,$-"H(Q*'(LL(),"
-'"%<5'-(,"(,5('4%#'(E%4%#,$@(+7EE85%#@(#*,#()784-(B'(57#(754@("8&$'E'4@(0%74'5#(B8#
,4"7("8&$'E'4@(B',8#%C84H(I/5'(%"(57#(4%A'4@(#7(+7E'(,+$7""(,(B77A(7C(#*%"("7$#(+,44'-
.3$7)5"*%$#(R'<,4%,H=(Q*'(LS>()*7E(#*'(LL($'&4,+'->()'$'(57#(A57)5(C7$(B'%5<(,5@
4'""(B$8#,4(#*,5(#*'%$("8++'""7$">(B8#(#*'@(*,0'(<75'(-7)5(%5(*%"#7$@(,"(B''C@>("T8,#>
B''$*,44(#@&'"HK
LL(85%C7$E"(,$'("#@4%"*>()'449+8#>()%#*(,(#78+*(IB8#(57#(#77(E8+*K(7C('++'5#$%+%#@H
:7E&,$'(#*'($,#*'$(B7$%5<(,5-(57#(0'$@()'44(+8#(SE'$%+,5(,$E@(85%C7$EJ(U,+A'#>("*%$#>
#%'>(&,5#">("7+A">(,5-(4,+'98&("*7'">('""'5#%,44@(+%0%4%,5(+47#*'"H(LL(85%C7$E"()'$'
#%<*#>(*',0@>("#%CCH(Q*'(B77#"(E,-'(4'<"(,5-(C''#(C''4(*',0@>('5+,"'->(7B4%<%5<(#*'5
)',$'$(#7("#,5-(8&("#$,%<*#H(S"(#*'(U,+A'#(7C(!!"#$%&'(&('?&4,%5"J(.Q*'(85%C7$E(),"
B4,+A>(,(+747$()*%+*(*,-(%E&7$#,5#(70'$#75'"(%5(V'$E,5@H(/5(#*,#>(#*'(LL()7$'(,(0,"#
0,$%'#@(7C(-'+7$,#%75">("@EB74">(B,-<'"(#7(-%"#%5<8%"*($,5A>(C$7E(#*'(+744,$($85'"(#7
#*'(-',#*F"(*',-H(Q*'(,&&',$,5+'(),"(B7#*(-$,E,#%+(,5-(E'5,+%5<H=
Q*'(#75'(7C(#*'(+70'$(%"(,5(,4E7"#()%"#C84(+7E'975>(57#(T8%#'(&$'&,$%5<(75'(C7$(#*'
B,5,4%#@(7C(E7"#(7C(#*'(&*7#7<$,&*"H(3'"%-'"(#*7"'(+'4'B$,#'-(B4,+A(85%C7$E">(LL
#$77&'$"()'$'(%""8'-(,4E7"#(SE'$%+,59,$E@(477A%5<(A*,A%(85%C7$E"(,5-(+,E78C4,<'-
&75+*7"(,5-(U,+A'#"H(S5-(B'"%-'"(85%C7$E">(#*'$'(,$'(&,<'"(7C(+744,$(&,#+*'">
+8CCB,5-">(+*'0$75">(B'4#(B8+A4'">(+7EE'E7$,#%0'(B,-<'">($'<%E'5#,4("#,5-,$-">
#$8E&'#(B,55'$">(C%'4-(+,&">("'$0%+'(E'-,4">("*784-'$(C4,"*'">(&'$E%#">(&,""'"DC')(7C
#*'"'(B',$%5<('%#*'$(#*'(57#7$%78"($85'"(7$(#*'(-',#*F"(*',-P(,44(E'#%+8478"4@
%-'5#%C%'-(B@($,5A>(85%#>(,5-(@',$(,5-("',"75(7C(%""8'H(;$'+%"'4@(#*'(%557+878"5'""(7C
&$,+#%+,44@(,44(7C(#*'(&*7#7<$,&*"(#'"#%C%'"(#7(#*'(&7)'$(7C(#*'(%E,<'H(67$(C,5#,"@(#7
*,0'(-'&#*>(%#(5''-"(-'#,%4H(M*,#(),"(#*'(+747$(7C(#*'(#$,0'4(&'$E%#(,5(LL("'$<',5#
)784-(*,0'(5''-'-(#7(<'#(C$7E(Q$%'$(#7(W8B'+A(%5(#*'("&$%5<(7C(1XYYN(/5'(5''-"(,44
!
"#$%&'()*$+",-.%$/0&$+($1
!2%"#$%*$33,4$%'2%2,3(03*%#,3%5$$+%+$)"-,607$&%5.%,+%,$3"#$"0(%/0$8%'2%602$9%0"3
"-,::0+43%#,/$%5$$+%3$;),607$&1%<#03%$-'"0(07,"0'+%'2%2,3(03*%#,3%5$$+%-$*,-=$&9%5)"
*'3"6.%0+%('++$("0'+%80"#%0"3%2,+(0$-%,+&%*'-$%:)560(07$&%*,+02$3","0'+39%,3%0+
>03#0*,?3%!"#$%&&'"#&("$()(*)&+%,+&%,-"./("$(,-%%09%,+&%0+%206*3%60=$%@$++$"#
A+4$-?3%,1".2'"(3'&'#49%B03('+"0?3%56%(7)/#%89%,+&%C060,+,%D,/,+0?3%56%(9'46-
:".-%.1
<#$%3'6$*+%$-'"0(03*%'2%2,3(03*%*)3"%5$%&03"0+4)03#$&%2-'*%,%3':#03"0(,"$&%:6,.0+4
80"#%()6")-,6%#'--'-9%8#$-$%"#$-$%03%,+%$6$*$+"%'2%"#$%:)"E'+1%<#$%:'3"$-%F'5$-"%>'--03
*,&$%2'-%#03%-$($+"%3#'8%,"%"#$%D,3"$660%G,66$-.%0+%A:-069%HIJK9%03%,%:#'"'4-,:#%'2%"#$
,-"03"9%+,=$&%"'%"#$%8,03"9%8$,-0+4%&,-=%46,33$39%8#,"%,::$,-3%"'%5$%,%L,70%#$6*$"9%,+&
,%3:0=$&%3"$$6%('66,-9%,"",(#$&%"'%8#0(#%03%,%6,-4$%(#,0+%8#0(#%#$%#'6&3%0+%#03
*,+,(6$&9%):602"$&%#,+&31%>'--03%03%3,0&%"'%#,/$%('+30&$-$&%"#03%"'%5$%"#$%'+6.%0*,4$
"#,"%3"066%#,3%,+.%:'8$-%"'%3#'(=M%,%30+4)6,-%/0-")$%"'%"#'3$%8#'%",=$%2'-%4-,+"$&%"#,"
,-"%03%,%3$N)$+($%'2%$/$-E2-$3#%4$3")-$3%'2%:-'/'(,"0'+1%O)"%"#$%:'0+"%'2%"#$%:'3"$-%03
0"3%'8+%+$4,"0'+1%P#'(=0+4%:$':6$%0+%"#03%('+"$;"%,63'%*$,+3%0+)-0+4%"#$*9%,3%L,70
*,"$-0,6%$+"$-3%"#$%/,3"%-$:$-"'-.%'2%:':)6,-%0('+'4-,:#.%)3,56$%2'-%"#$%0-'+0(
('**$+",-0$3%'2%Q':%,-"1
O)"%"#$%*,"$-0,6%03%0+"-,+304$+"1%R'-%'+$%"#0+49%L,703*%2,3(0+,"$3%0+%,%8,.%'"#$-
0('+'4-,:#.%3",=$&%')"%5.%"#$%:':%3$+305060".%S2-'*%>,'%<3$E")+4%"'%>,-06.+
>'+-'$T%&'$3%+'"1%L'%&')5"%3'*$%:,-"%'2%"#$%4$+$-,6%-03$%'2%0+"$-$3"%0+%2,3(03*%(,+%5$
3$"%&'8+%,3%,%:-'&)("%'2%()-0'30".1%R'-%"#'3$%5'-+%,2"$-%"#$%$,-6.%HIKU39%56)&4$'+$&
5.%,%602$"0*$?3%:,6,/$-9%:-'%,+&%('+9%,5')"%('**)+03*9%2,3(03*V"#$%4-$,"
('+/$-3,"0'+%:0$($%'2%"#$0-%:,-$+"3?%4$+$-,"0'+V-$:-$3$+"3%"#$%$;'"0(9%"#$%)+=+'8+1
<#$+9%"#$-$%03%,%4$+$-,6%2,3(0+,"0'+%,*'+4%"#$%.')+4%80"#%#'--'-9%80"#%"#$%0--,"0'+,61
D')-3$3%&$,60+4%80"#%"#$%#03"'-.%'2%2,3(03*%,-$9%,6'+4%80"#%"#'3$%'+%"#$%'(()6"
S0+(6)&0+4%/,*:0-03*T9%,*'+4%"#$%5$3"%,""$+&$&%"#$3$%&,.3%'+%('66$4$%(,*:)3$31%A+&
5$.'+&%"#03%"#$%&$20+0"$6.%3$;),6%6)-$%'2%2,3(03*9%8#0(#%,,(3%4)0')%"$3"020$3%"'%80"#
)+,5,3#$&%:6,0++$339%3$$*3%0*:$-/0')3%"'%&$26,"0'+%5.%0-'+.%'-%'/$-2,*060,-0".1
+%:'-+'4-,:#0(%60"$-,")-$9%206*39%,+&%4,&4$"-.%"#-')4#')"%"#$%8'-6&9%$3:$(0,66.%0+
"#$%W+0"$&%P","$39%X+46,+&9%R-,+($9%Y,:,+9%P(,+&0+,/0,9%Z'66,+&9%,+&%G$-*,+.9%"#$
PP%#,3%5$('*$%,%-$2$-$+($%'2%3$;),6%,&/$+")-03*1%>)(#%'2%"#$%0*,4$-.%'2%2,-E')"%3$;
#,3%5$$+%:6,($&%)+&$-%"#$%304+%'2%L,703*1%>'-$%'-%6$33%L,70%('3")*$3%80"#%5''"39
6$,"#$-9%(#,0+39%!-'+%D-'33$3%'+%46$,*0+4%"'-3'39%38,3"0=,39%#,/$%5$('*$9%,6'+4%80"#
*$,"%#''=3%,+&%#$,/.%*'"'-(.(6$39%"#$%3$(-$"%,+&%*'3"%6)(-,"0/$%:,-,:#$-+,60,%'2
$-'"0(03*1%!+%"#$%3$;%3#':39%"#$%5,"#39%"#$%6$,"#$-%5,-39%"#$%5-'"#$639%:$':6$%,-$
&-,440+4%')"%"#$0-%4$,-1%O)"%8#.[%\#.%#,3%L,70%G$-*,+.9%8#0(#%8,3%,%3$;),66.
-$:-$330/$%3'(0$".9%5$('*$%$-'"0([%Z'8%(')6&%,%-$40*$%8#0(#%:$-3$()"$&
!
"#$#%&'()*%+,&-#$&+)+.)/+0(123#24
5+-*(&+*6&%+62+0"&+71&86*&-06#2%+#9+0"&+9)%-6%0+*&)8&1%+9#1+"6."*/+%&'()*+$&0)7"#1%:
;<6=&+>6&0?%-"&+)28+@).2&1A+B60*&1+1&.)18&8+*&)8&1%"67+)%+%&'()*+$)%0&1/+#9+0"&
C9&$6262&D+$)%%&%A+)%+1)7&:+E"&+&'71&%%6#2+#9+0"&+-1#F8%+62+!"#$%&'()*(+',(-#..+6%+#2&
#9+&-%0)%/:+E"&+*&)8&1+$)=&%+0"&+-1#F8+-#$&:G+<&903F62.+$#H&$&20%+")H&+0&28&8+0#
,&+(26%&'A+)28+)%&'()*+62+0"&61+6$).&1/:+I'01&$&+16."03F62.+$#H&$&20%A+"#F&H&1
7(160)26-)*+)28+1&71&%%6H&+0"&+1&)*606&%+0"&/+(%"&1+62A+")H&+)2+&1#06-+%(19)-&:+J&10)62*/
>)?6%$+6%+C%&'6&1D+0")2+-#$$(26%$:+;@"6-"+6%+2#0+%#$&0"62.+0#+0"&+>)?6%K+-1&860A+,(0
1)0"&1+%"#F%+%#$&0"62.+#9+0"&+2)0(1&+)28+*6$60%+#9+0"&+%&'()*+6$).62)06#2:G
L9+-#(1%&+$#%0+7*&+F"#+)1&+0(12&8+#2+,/+MM+(269#1$%+)1&+2#0+%6.269/62.+)771#H)*
#9+F")0+0"&+>)?6%+868A+69+628&&8+0"&/+")H&+$#1&+0")2+0"&+%=&0-"6&%0+68&)+#9+F")0+0")0
$6."0+,&:+>&H&10"&*&%%A+0"&1&+)1&+7#F&19(*+)28+.1#F62.+-(11&20%+#9+%&'()*+9&&*62.A
0"#%&+0")0+.&2&1)**/+.#+,/+0"&+2)$&+#9+%)8#$)%#-"6%$A+F"6-"+$)=&+7*)/62.+)0+>)?6%$
%&&$+&1#06-:+E"&%&+%)8#$)%#-"6%06-+9)20)%6&%+)28+71)-06-&%+)1&+0#+,&+9#(28+)$#2.
"&0&1#%&'()*%+)%+F&**+)%+"#$#%&'()*%A+)*0"#(."+60+6%+)$#2.+"#$#%&'()*%+0")0+0"&
&1#06-6?62.+#9+>)?6%$+6%+$#%0+H6%6,*&:
)%-6%$+6%+0"&)0&1AD+)%+N&2&0+%)68: +528+%)8#$)%#-"6%06-+%&'()*60/+6%+$#1&
0"&)016-)*+0")2+)2/+#0"&1:+@"&2+%&'()*60/+8&7&28%+%#+$(-"+#2+60%+,&62.+C%0).&8AD
%&'+;*6=&+7#*606-%G+,&-#$&%+-"#1&#.1)7"/:+O&.(*)1%+#9+%)8#$)%#-"6%06-+%&'+)1&+&'7&10
-#%0($&1%+)28+-"#1&#.1)7"&1%P+0"&/+)1&+7&19#1$&1%+62+0"&+71#9&%%6#2)*+%&2%&:+528+62+)
81)$)+0")0+6%+)**+0"&+$#1&+&'-6062.+,&-)(%&+60+6%+9#1,688&2+0#+#1862)1/+7*&:+C@")0+6%
7(1&*/+1&)*6%06-A+%*6-&+#9+*69&AD+<&26+O6&9&2%0)"*+%)68A+CF")0+6%+)H&1).&A+Q(#0686)2A
8#&%2K0+620&1&%0+$&:D+J1#%%62.+#H&1+91#$+%)8#$)%#-"6%06-+9)20)%6&%A+F"6-"+)1&
-#$$#2+&2#(."A+620#+)-06#2+60%&*9+-)116&%+F60"+60+0"&+0"16**+#9+01)2%.1&%%6#2A
,*)%7"&$/A+&201/+620#+0"&+=628+#9+8&96*62.+&'7&16&2-&+0")0+C26-&D+)28+C-6H6*6?&8D
7*&+-)2+2&H&1+")H&:
M)8#$)%#-"6%$A+#9+-#(1%&A+8#&%+2#0+R(%0+$&)2+7*&+"(1062.+0"&61+%&'()*+7)102&1%A
F"6-"+")%+)*F)/%+#--(11&8S)28+.&2&1)**/+$&)2%+$&2+,&)062.+(7+F#$&2:+E"&
7&1&226)*+81(2=&2+O(%%6)2+7&)%)20+0"1)%"62.+"6%+F69&+6%+R(%0+8#62.+%#$&0"62.+"&+9&&*%
*6=&+8#62.+;,&-)(%&+"&+6%+(2")77/A+#771&%%&8A+%0(7&96&8P+)28+,&-)(%&+F#$&2+)1&
")28/+H6-06$%G:+T(0+0"&+I2.*6%"$)2+62+)+,1#0"&*+,&62.+F"677&8+6%+1&-1&)062.+"6%+#F2
&'7&16&2-&:+B&+6%+7)/62.+)+F"#1&+0#+)-0+#(0+)+76&-&+#9+0"&)0&1+F60"+"6$A+0#+1&3&2)-0+#1
1&3&H#=&+0"&+7)%0S&'7&16&2-&%+#9+"6%+%-"##*8)/%+#1+2(1%&1/+F"6-"+2#F+"#*8+9#1+"6$
)+"(.&+1&%&1H&+#9+%&'()*+&2&1./:+E#8)/+60+$)/+,&+0"&+>)?6+7)%0+0")0+7*&+62H#=&A+62
0"&+0"&)016-)*6?)06#2+#9+%&'()*60/A+,&-)(%&+60+6%+0")0+7)%0+;6$).62)1/A+9#1+$#%0G+91#$
F"6-"+0"&/+"#7&+)+1&%&1H&+#9+%&'()*+&2&1./+-)2+2#F+,&+0)77&8:+@")0+0"&+!1&2-"+-)**
C0"&+I2.*6%"+H6-&D+-#(*8A+"#F&H&1A+,&+%)68+0#+,&+%#$&0"62.+#9+)2+)109(*+)9961$)06#2+#9
6286H68()*60/U+0"&+7*)/*&0+1&9&11&8A+)90&1+)**A+0#+0"&+%(,R&-0K%+#F2+7&1%#2)*+-)%&+"6%0#1/:
V
!
!
"
#
$
"#$%&'(%&)*%+',-%*$.'/-'%0'1%-2(-3'4$%5)0$4#-2.%67-4$%(-&&$*$248%'%*$59)25$%4)%'2
)99*$55-:$%&*$$()0%)&%3#)-3$%-2%5$;%<'2(=%9)55->/1=%-2%)4#$*%0'44$*5?=%4)%'2%72>$'*'>/$
($.*$$%)&%-2(-:-(7'/-41@
"#$%*-47'/5%)&%5'()0'5)3#-50%>$-2.%0)*$%'2(%0)*$%9*'34-3$(=%4#$%'*4%4#'4%-5%0)*$%'2(
0)*$%($:)4$(%4)%*$2($*-2.%-45%4#$0$5=%'*$%9$*#'95%)2/1%'%/).-3'/%$;4$25-)2%)&%'2
'&&/7$24%5)3-$41A5%4$2($231%4)%47*2%$:$*1%9'*4%)&%9$)9/$A5%/-:$5%-24)%'%4'54$=%'%3#)-3$@%B2
'//%5)3-$4-$5%79%4)%2)C=%5$;%#'5%0)54/1%>$$2%'2%'34-:-41%<5)0$4#-2.%4)%()=%C-4#)74
4#-2D-2.%'>)74%-4?@%E74%)23$%5$;%>$3)0$5%($&-2$(%'5%'%4'54$=%-4%-5%9$*#'95%'/*$'(1%)2%-45
C'1%4)%>$3)0-2.%'%5$/&F3)253-)75%&)*0%)&%4#$'4$*=%C#-3#%-5%C#'4%5'()0'5)3#-50G'
&)*0%)&%.*'4-&-3'4-)2%4#'4%-5%>)4#%:-)/$24%'2(%-2(-*$34=%:$*1%0$24'/G-5%'//%'>)74@
'()0'5)3#-50%#'5%'/C'15%>$$2%'2%$;9$*-$23$%-2%C#-3#%5$;%>$3)0$5%($4'3#$(
&*)0%9$*5)2'/-41=%5$:$*$(%&*)0%*$/'4-)25#-95=%&*)0%/):$@%B4%5#)7/(%2)4%>$%57*9*-5-2.
4#'4%-4%#'5%>$3)0$%'44'3#$(%4)%+',-%510>)/-50%-2%*$3$24%1$'*5@%+$:$*%>$&)*$%-2%#-54)*1
C'5%4#$%*$/'4-)2%)&%0'54$*5%'2(%5/':$5%*$'/-,$(%C-4#%5)%3)253-)75/1%'*4-54-3%'%($5-.2@
!'($%#'(%4)%0'D$%79%#-5%4#$'4$*%)&%972-5#0$24%'2(%($/-.#4%&*)0%53*'43#=%-09*):-5-2.
4#$%($3)*%'2(%3)5470$5%'2(%>/'59#$0)75%*-4$5@%+)C%4#$*$%-5%'%0'54$*%53$2'*-)
':'-/'>/$%4)%$:$*1)2$@%"#$%3)/)*%-5%>/'3D=%4#$%0'4$*-'/%-5%/$'4#$*=%4#$%5$(734-)2%-5
>$'741=%4#$%H754-&-3'4-)2%-5%#)2$541=%4#$%'-0%-5%$354'51=%4#$%&'24'51%-5%($'4#@
%&''&()
!"#$%&'(")*#+"#,*"-#.-*/*"01('2%!$94$0>$*%IJ=%IKLM
3*4-"-04#("5#3(0&-046#!"#$%&'(")*%N'*3#%OP=%IKLM
78*5-1#/+8#98(&(:*8%N'*3#%Q=%IKLM
R$2-%S-$&$254'#/=%;-"1*8#5*"#9:2-00*"#5*0#.*-&'0<(81*-1()#3-240%<N72-3#=%IKTM?@!
!$$%U'25%E'*D#'75$2=%VW))42)4$%4)%4#$%U-54)*1%)&%S-$&$254'#/X5%XY/109-'=X%V%3-24#=:(81*82>=%W'//=%IKLZG'%*'*$%'34%)&%-2&)*0$(
(-55$24%'0-(%4#$%/'*.$%270>$*%)&%4*->74$5%4)%S-$&$254'#/%4#'4%#':$%'99$'*$(%-2%[0$*-3'2%'2(%\$54$*2%]7*)9$'2%&-/0%0'.',-2$5
(7*-2.%4#$%/'54%&$C%1$'*5@!
"#-5%-5%#)C%^)2'5%N$D'5%<?-22()*#?+-&*=%Y34)>$*%TI=%IKLZ?%5'/74$5%4#$%97>/-3'4-)2%)&%@'*#,(01#+/#1'*#A:B(@%V_R$2-%S-$&$254'#/`
3)24-27$5%#$*%3$/$>*'4-)2G)*%-5%-4%'%5$'*3#aG)&%4#$%3/'55-3'/%>$'741%)&%4#$%#70'2%>)(1=%4#$%5$'*3#%C#-3#%5#$%>$.'2%-2%#$*%&-/05@
!#$%-5%-24$*$54$(%-2%4#$%-($'/=%-2%4#$%0)270$24'/@V%N$D'5%-2%4#$%5'0$%9'9$*%)2%+):$0>$*%L=%IKLZ8%V[2(%#$*$%-5%01%)C2%&-2'/
54'4$0$24%)2%S-$&$254'#/X5%&-/058%B&%1)7%'*$%'2%-($'/-54=%1)7%C-//%5$$%-($'/-50b%-&%1)7%'*$%'%3/'55-3-54=%1)7%C-//%5$$%-2%#$*%&-/05%'2%)($
4)%3/'55-3-50b%-&%1)7%'*$%'%+',-=%1)7%C-//%5$$%+',-50@V!
B4%C'5%c$2$4=%-2%#-5%2):$/%C+4<*0#/:"DB8*0=%C#)%9*):-($(%)2$%)&%4#$%&-*54%4$;45%C#-3#%5#)C$(%4#$%$*)4-3%'//7*$%&'53-50%$;$*3-5$(
)2%5)0$)2$%C#)%C'5%2)4%'%&'53-54@%[2)4#$*%9*$53-$24%($53*-94-)2%-5%>1%!'*4*$=%'2%72/-D$/1%3'2(-('4$%&)*%4#$5$%&$$/-2.5%#-05$/&%'2(
C#)%0'1%#':$%#$'*(%'>)74%4#$0%&*)0%c$2$4@%B2%,(#E+81#5("0#2FG4*%<IKZK?=%4#$%4#-*(%2):$/%-2%#-5%&)7*F9'*4%7'*4-"0#5*#2(#2-B*81H=
!'*4*$%($53*->$5%)2$%)&%#-5%9*)4'.)2-545%$;9$*-$23-2.%4#$%$24*1%)&%4#$%c$*0'2%'*01%-24)%d'*-5%-2%IKZP@
!"#$%&'()*+$,*%-.*$/0$&12*3'*4&'(1'1*.05,.&%6(4*.-*.3-,'*.3-5,$%1,*-/*'4',2*3'*.3-563.*7850*9-%:5'0-0,;7*$%1*3'*+$,*,5<0'='(4
3$<<4>*?'*(--@'1*.3'=*&%*.3'*'4'2*3'*/'$,.'1*-%*.3'&0*/$&0*3$&02*.3'&0*,5%A50%'1*/$9',*+&.3*'4',*+3&93*(--@'1*(&@'*($@',*-/*&9'2
.3'&0*,(&=*A-1&',2*.3'&0*&%90'1&A(4*(-%6*$%1*=5,95($0*3&<,>*?'*=50=50'1B*7?-+*3$%1,-='*.3'4*$0';7C*D-='.3&%6*3$1*/$(('%*/0-=
.3'*,@4B*&.*+$,*.3'*$%9&'%.*($+>*E3'*,-9&'.4*-/*F516',*3$1*9-(($<,'12*.3'*,'%.'%9'*3$1*A''%*-A(&.'0$.'1G*.3-,'*63$,.(4*(&..('*@3$@&
,-(1&'0,2*.3'*1'/'%1'0,*-/*.3'*0&63.,*-/*=$%2*3$1*A''%*0-5.'1C>*H%*5%A'$0$A('2*1'(&9&-5,*,'%,$.&-%*,<0'$1*.30-563*3&,*A-14G*3'
9-5(1*3$01(4*,''*<0-<'0(4G*3'*0'<'$.'12*6$,<&%62*7H,*&/*&.*+'0'*A5..'0I.3'470'*'%.'0&%6*J$0&,*$,*&/*&.*+'0'*A5..'0>7C*?'*+-5(1*(&@'*.-
3$K'*A''%*$*+-=$%*.-*.30-+*.3'=*/(-+'0,>!
!
!"#$%&'()#&"*+,-./"0123"455"6789:;"6<;<6=<>3
Recommended