
?e
2$%V8789(*,(79#'+@8F9%D
:sP*;.!J/R!=/!'(!KIIA*.;@/+!
ABC::,8*#7$'D79@
ŒO-)*)!',.A*'!C().A*1'!96L()!9A!),)E1(6+6Bq91-E6p!•i(A)L)!,'!C†.-*'!H)L!+)!0f!YCC,-'*E)9/!#3!76('9!',!+~'/!
EA',SA-)(!+~'!+),!'ˆ6Ž!i'('!B'I6(!E6*G)*-)*E-'!I!9)(G-E-6!B†9!(†C-+6/!I'!CA)+)!+)9E'(.'(!,69!R'*A',)9!!
+)!,69!i(6C-)1'(-69/!C)+-(!C-)U'9!6!-*E,A96!7'E)(!A*'!E-1'!)*!,~*)'!C'('!SA)!G)*.'*!'!()',-U'(!A*'!()C'('E-‡*"!
7EA*@*</!B;.!0/I.0.@*t;! ABC::,8*#7$'D79@
f,!9)(G-E-6!+)!)hC)(169!0f!)91†!'!1'*!9‡,6!A*!C'96!+)!9A!CA)(1'"!•f*1()!)*!,~*)'!I!96,-E-1)!9A!()C'('E-‡*!EA'*+6!!
,)!G)*.'!EA',SA-)(!+~'!+),!'ˆ6Ž!P!,,'B)!',!><<"0f"&Ygf2!_><<"3%#"#4%4`!+A('*1)!76('9!*6(B',)9!+)!6K-E-*'"
(+<B=*E!=/!=*+/wE!I.0.!A.!Y*=.!0/.A!
ABC::,8*#7$'D79@
*(DSR\DHOFRQFHSWRGH'LVHxR8QLYHUVDO³SURGXFWRVVHUYLFLRV\DPELHQWHVTXHSXHGHQXVDUJHQWHGHWRGDV
,'9!)+'+)9/!1'B'ˆ69!I!E'C'E-+'+)9"!g)E6*6E)B69!,'!*)E)9-+'+!+)!+-9)ˆ'(!C'('!A*'!.('*!.'B'!+)!7'L-,-+'+)9!
I!+-K-EA,1'+)9!K~9-E'9!I!B)*1',)9"!i'('!B†9!+)1',,)9!E6L()!,'9!'C,-E'E-6*)9!+)!0f!8-9)ˆ6!=*-G)(9',/!-*E,AI)*+6!
-+)'9!+)!+-9)ˆ6!C'('!,'!E6E-*'!C'('!C)(96*'9!E6*!+-9E'C'E-+'+)9/!B-()!*A)91('!C†.-*'!H)L!76I!B-9B6"!!
i'('!C)(96*'9!E6*!+-K-EA,1'+)9!'A+-1-G'9/!K'G6(!+)!,,'B'(!',!><<"O88"0fY&!_><<">%%"3%##`"
'.0.;<x.+!.QIA*.=.+! ABC::,8*#7$'D79@
&6BC()!A*'!.'('*1~'!'BC,-'+'!I!6L1)*.'!+)1',,)9!96L()!+)9EA)*169!)9C)E-',)9!+-9C6*-L,)9!B-)*1('9!9A!.'('*1~'!
)91†!'‰*!'E1-G'"!iA)+)!E6BC('(,'!)*!,~*)'!)*!EA',SA-)(!B6B)*16/!6!,,'B'(!',!_><<"@#@"###3`!+A('*1)!76('9!
*6(B',)9!+)!6K-E-*'"!0f!&6*9AB)(!d6B)!2)(G-E)9!)91'(†!'‰*!'7~!EA'*+6!9A!.'('*1~'!1)(B-*)"
:*/f.+!O!.@@/+E0*E+! ABC::,8*#7$'D79@
YSA),,69!-*+-G-+A69!E6*!,'!E',-K-E'E-‡*!*)E)9'(-'!C'('!()C'('(!9A9!C(6C-69!),)E1(6+6Bq91-E69!CA)+)*!!
C)+-(!SA)!9)!,)9!B'*+)*!,'9!C-)U'9!6!'EE)96(-69!+-()E1'B)*1)!'!9A9!76.'()9!_'E)C1'B69!,'9!1'(M)1'9!!
cN2Y/!R'91)(&'(+!I!8-9E6G)(`"!d'.'!9A!C)+-+6!)*!,~*)'!76I/!#3!76('9!E'+'!+~'!6!,,'B'(!C6(!1),qK6*6!!
',!><<"@#@"#<<#!+A('*1)!76('9!*6(B',)9!+)!6K-E-*'"
0&#."<#9(R;;":<'#.V'#;("9&#.'<.'#9'.?&<R&7.;R_('<.7:#.8(:;'V"?"'<9:#.&.#'AR"(.8:(.;R&7iR"'(.R#R&(":P.
/R&7iR"'(.:9(&.('8&(&;"C<.V'_'(|&a.8:(.('A7&.A'<'(&7a.('='("(#'.&.8'(#:<&7.;&7"=";&V:.&R9:("E&V:P.!'_'.
'`'(;'(#'.8(';&R;"C<.S&.iR'.7&#.('8&(&;":<'#."<;:((';9&#.8R'V'<.;&R#&(.;:<V";":<'#.V'.=R<;":<&?"'<9:.
"<#'AR(&#P.
:t;P.+/!/;!@E;<.@<E!@E;!;E+E<0E+! ABC::,8*#7$'D79@
2-!*6!)91†!9'1-9K)E76!E6*!),!9)(G-E-6!SA)!()E-L)!+)!0f/!C‡*.'9)!)*!E6*1'E16!E6*!*6961(69!)*!*A)91('!!
C†.-*'!H)L!-*+-E'*+6!16+69!,69!+)1',,)9!'9~!E6B6!9A!*‰B)(6!+)!1),qK6*6!6!)9E(~L'*69!'b!
0)*)(',!R'*'.)(/!&A916B)(!g),'1-6*9!
0f!YCC,-'*E)9/!YCC,-'*E)!i'(F!
56A-9G-,,)/!VJ!3<##e
L/P*+<0/!+B!/A/@<0E=EQH+<*@E! ABC::,8*#7$'D79@
£5HJLVWUHVXQXHYRHOHFWURGRPpVWLFRHQOtQHD³FXDQGRXVWHGSUHILHUD!f,!().-91('(!9A!C(6+AE16!'!1-)BC6!!
,)!C(6C6(E-6*'(†/!9-!9A(.-)('!,'!*)E)9-+'+/!A*'!B)M6(!E6BA*-E'E-‡*!I!A*!9)(G-E-6!B†9!(†C-+6!L'M6!,69!1q(B-*69!
+)!9A!.'('*1~'"!O'BL-q*!CA)+)!)*G-'(!9A!1'(M)1'!+)!().-91(6!C()$-BC()9'!SA)!9)!-*E,AI)!)*!),!B'1)(-',!!
+)!)BL','M)!6!()E6(1)!I!A9)!),!K6(BA,'(-6!+)!)91)!R'*A',!+),!i(6C-)1'(-6"