Double-Blind, Randomized, Placebo-controlled, Safety and Efficacy Trial of BHV-3500 (Zavegepant) Intranasal for the Acute Treatment of Migraine
Phase: PHASE3
Conditions: Migraine
Sponsor: Pfizer

!# %  %%
%@8-0=
!# %  %
#1	+@9K=GM:D=	DAF<-9F<GEAR=<
+D9;=:GGFLJGDD=<.9>=LQ9F< >>A;9;Q/JA9DG>#1	
R9N=?=H9FL$FLJ9F9K9D$)>GJL@=;ML=
/J=9LE=FLG>(A?J9AF=
)/
	-XQH	

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/
#&
59N=?=H9FL#1	
$%&*&#$
#1	
!# %  %%
#1	+@9K=GM:D=	DAF<-9F<GEAR=<
+D9;=:GGFLJGDD=<.9>=LQ9F< >>A;9;Q/JA9DG>#1	
R9N=?=H9FL$FLJ9F9K9D$)>GJL@=;ML=
/J=9LE=FLG>(A?J9AF=
&#

$! $ #
AG@9N=F+@9JE9;=MLA;9DK$F;

 #!# %  
%
	!=:	
'#$ &#
N

'#$ %
	%MF	

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









!# %!
1=JKAGF
.MEE9JQG>;@9F?=K
9L=
1=JKAGF

)GL9HHDA;9:D=
	!=:	
1=JKAGF

0H<9L=<KLM<QF9E=>JGEN9R=?=H9FLLGR9N=?=H9FL
L@JGM?@GMLL@=HJGLG;GD

0H<9L=<K9>=LQAF>GJE9LAGF>JGEL@=J=D=9K=G>
$FN=KLA?9LGJJG;@MJ=N=JKAGF


D9JA>A=<L@=;GFLJ9;=HLAGF?MA<9F;=>GJKM:B=;LKAF
K9E=K=PJ=D9LAGFK@AHKKM:B=;LKO@GJ=HGJL
9:KLAF=F;=9F<E9D=KM:B=;LKOAL@N9K=;LGEQ

<<=<EAKKAF?XPY>GJ=*KM:B=;LLJ9AFAF?AF
/9:D=

+JGNA<=<*1$	KLM<QNAKALJ=IMAJ=E=FLK

GJJ=;L=<AF;GFKAKL=F;A=KLQHG?J9H@A;9D=JJGJK
L@JGM?@GMLL@=HJGLG;GD

	.=H	
1=JKAGF

0H<9L=LG P;DMKAGF;JAL=JA9>=9F<9<<=<
 P;DMKAGF;JAL=JA9B
	HJ	
1=JKAGF

<<ALAGFG>AF;DMKAGF:KM:B=;LK;9F:=J=K;J==F=<
A>L@=AF=DA?A:ADALQO9K<M=LGGF=G>L@==DA?A:ADALQ
AL=EK9<BMKL=<AFHJGLG;GDN=JKAGFGJO@G9J=
J=9KGF9:DQ=PH=;L=<LG:==DA?A:D=

-=EGN9DG>=P;DMKAGF;JAL=JA9G>X.M:B=;L@9K9
@AKLGJQG>?9KLJA;GJKE9DDAFL=KLAF9DKMJ?=JQ
AF;DM<AF?"9KLJA;QH9KK"9KLJA;9F<AF?"9KLJA;
.D==N="9KLJA;9DDGGF=L;
GJGL@=J<AK=9K=GJ
;GF<ALAGF=
?
;@JGFA;H9F;J=9LALAKMD;=J9LAN=;GDALAK
=L;
L@9L;9MK=KE9D9:KGJHLAGFY
-=EGN9DG>#:;=P;DMKAGF;JAL=JA9

0H<9L=<($=P;DMKAGFLGC?E
0H<9L=<J=IMAJ=E=FLK=P;DMKAGF;JAL=JA9>GJK=JME
:ADAJM:AF./9F<'/LG
P0')

	%MF	

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









0H<9L=<=P;DMKAGF;JAL=JA9?LG9DDGOKM:B=;LKO@G
9J=H9JLA;AH9LAF?AFL@=G:K=JN9LAGFH@9K=G>9
*1$	E-)N9;;AF=LJA9DA>L@=HGL=FLA9D
KM:B=;LK9J=9LD=9KL<9QKHGKLD9KL<GK=G>L@=
N9;;AF=



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









$		
!	# &" 
!"%%" $	&$"
" ! "#"" "" 
""%$!"" !"""
/@=AF>GJE9LAGF;GFL9AF=<AFL@AKHJGLG;GD9F<9DDGL@=JAF>GJE9LAGFJ=D=N9FLLGR9N=?=H9FL
#1	9J=L@=;GF>A<=FLA9D9F<HJGHJA=L9JQAF>GJE9LAGFG>AG@9N=F+@9JE9;=MLA;9DK$F;

$@9N=J=9<L@=HJGLG;GDAF;DM<AF?9DD9HH=F<A;=K9F<$9?J==L@9LAL;GFL9AFK9DDG>L@=F=;=KK9JQ
AF>GJE9LAGF>GJE=9F<EQKL9>>LG;GF<M;LL@AKKLM<Q9K<=K;JA:=<
$OADD;GF<M;LL@AKKLM<Q9K
GMLDAF=<@=J=AFAF9;;GJ<9F;=OAL@L@=J=?MD9LAGFKKL9L=<AFL@=!=<=J9DG<=G>-=?MD9LAGFK>GJ
"GG<DAFA;9D+J9;LA;=K9F<$FL=JF9LAGF9DGF>=J=F;=GF#9JEGFAR9LAGF?MA<=DAF=K9F<OADD
E9C=9J=9KGF9:D==>>GJLLG;GEHD=L=L@=KLM<QOAL@AFL@=LAE=<=KA?F9L=<

$OADDHJGNA<=9DDKLM<QH=JKGFF=DMF<=JEQKMH=JNAKAGF;GHA=KG>L@=HJGLG;GD9F<9FQ
9E=F<E=FLK9F<9;;=KKLG9DDAF>GJE9LAGFHJGNA<=<:QAG@9N=F+@9JE9;=MLA;9DK$F;
GJ
KH=;A>A=<<=KA?F==K
$OADD<AK;MKKL@=E9L=JA9DOAL@L@=ELG=FKMJ=L@9LL@=Q9J=>MDDQAF>GJE=<
9:GMLR9N=?=H9FL#1	9F<L@=KLM<Q




888888888888888888888888888888
8888888888888888
+JAF;AH9D$FN=KLA?9LGJ)9E=HJAFL=<
.A?F9LMJ=

88888888888 88888888888
9L=

.AL=)ME:=J

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









!"#%!# %!%!!
%4?70
#1	+@9K=GM:D=	DAF<-9F<GEAR=<+D9;=:GGFLJGDD=<
.9>=LQ9F< >>A;9;Q/JA9DG>#1	R9N=?=H9FL$FLJ9F9K9D$)>GJ
L@=;ML=/J=9LE=FLG>(A?J9AF=
#,?4:9,70
59N=?=H9FLAK:=AF?<=N=DGH=<>GJL@=9;ML=LJ=9LE=FLG>EA?J9AF=

 >>=;LAN=F=KK9?9AFKLEA?J9AF=O9K<=EGFKLJ9L=<AF#1	9>MDDQ
HGO=J=<HANGL9D+@9K=<GM:D=	:DAF<J9F<GEAR=<HD9;=:G	;GFLJGDD=<
<GK=	J9F?AF?KLM<QG>R9N=?=H9FLE?E?9F<E?NA9AFLJ9F9K9D
$)9<EAFAKLJ9LAGF

/@=<9L9>JGEL@AKKLM<QOADD9DDGO;@9J9;L=JAR9LAGFG>L@=J=D9LAN=K9>=LQ
9F<=>>A;9;QG>$)R9N=?=H9FLN=JKMKHD9;=:GAFL@=9;ML=LJ=9LE=FLG>
EG<=J9L=GJK=N=J=EA?J9AF=E=9KMJAF?>J==<GE>JGEH9AF9F<>J==<GE
>JGEEGKL:GL@=JKGE=KQKL=EF9MK=9H@GLGH@G:A9GJH@GFGH@G:A99K
J=HGJL=<BMKLHJAGJLGLJ=9LE=FLG>L@=EA?J9AF=
$F>GJE9LAGFJ=?9J<AF?
LAE=LGGFK=LG>9;LAGFL@=<MJ9LAGFG>9;LAGF9F<L@=KMKL9AF9:ADALQG>H9AF
>J==<GEAFKM:B=;LKOAL@EA?J9AF=OADD9DKG:=G:L9AF=<

%,=20?
!:;@7,?4:9
/@=KLM<QOADDJ=;JMALE9D=9F<>=E9D=KM:B=;LKQ=9JKG>9?=9F<GD<=J
OAL@9LD=9KL9	Q=9J@AKLGJQG>EA?J9AF=OAL@GJOAL@GML9MJ9;GFKAKL=FL
OAL@9<A9?FGKAK9;;GJ<AF?LGL@=$FL=JF9LAGF9DD9KKA>A;9LAGFG>#=9<9;@=
AKGJ<=JK=<ALAGFAF;DM<AF?9F9?=G>GFK=LHJAGJLGEA?J9AF=
9LL9;CKL@9LD9KL9:GML	@GMJKFGLEGJ=L@9F9LL9;CKG>EG<=J9L=GJ
K=N=J=AFL=FKALQH=JEGFL@OAL@AFL@=D9KLEGFL@K9F<FGLD=KKL@9F
9LL9;CKH=JEGFL@

@8-0=:1
$@-50.?>
HHJGPAE9L=DQKM:B=;LKOADD:=K;J==F=<LGJ9F<GEAR=
9HHJGPAE9L=DQKM:B=;LK9HHJGPAE9L=DQH=JLJ=9LE=FL?JGMH

.M:B=;LKOADD:=J9F<GEAR=<AF9J9LAGLGL@=R9N=?=H9FLGJHD9;=:G
LJ=9LE=FL?JGMHK
-9F<GEAR9LAGFOADD:=KLJ9LA>A=<:QHJGH@QD9;LA;
EA?J9AF=E=<A;9LAGFMK=Q=KGJFG

!=48,=D
 -50.?4A0
/G;GEH9J=L@==>>A;9;QG>R9N=?=H9FLOAL@HD9;=:GAFL@=9;ML=LJ=9LE=FL
G>EA?J9AF=9KE=9KMJ=<:Q;G	HJAE9JQ=F<HGAFLKG>H9AF>J==<GE9L
@GMJKHGKL<GK=9F<>J==<GE>JGEL@=EGKL:GL@=JKGE=KQEHLGE(.
9KKG;A9L=<OAL@EA?J9AF=9L@GMJKHGKL<GK=

$0.:9/,=D
 -50.?4A0>

 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9L@GMJK
HGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9L
@GMJKHGKL<GK=9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/










 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AFJ=DA=>>JGELG
@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AFJ=DA=>>JGELG
@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AF>J==<GE>JGE
LG@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AF>J==<GE>JGE
LG@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH@GFGH@G:A9>J==<GE9L
@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH@GLGH@G:A9>J==<GE9L
@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=K
HGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9L
EAFML=KHGKL<GK=9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=K
HGKL<GK=


/G;GEH9J=L@=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF
9LEAFML=KHGKL<GK=9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=K
HGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9L
EAFML=KHGKL<GK=9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=K;M=E=<A;9LAGFMK=OAL@AF
@GMJKHGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJF9MK=9>J==<GE9L@GMJK
HGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=D9HK=>JGELG
@GMJKHGKL<GK=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









C;7:=,?:=D
 -50.?4A0>

 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH9AF>J==<GE9L9DD
K;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH9AFJ=DA=>9L9DD
K;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJ>J==<GE>JGE(.9L
9DDK;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJJ=LMJFLGFGJE9D
>MF;LAGF9L9DDK;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH@GFGH@G:A9>J==<GE9L
9DDK;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH@GLGH@G:A9>J==<GE9L
9DDK;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJF9MK=9>J==<GE9L9DD
K;@=<MD=<LAE=HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=(A?J9AF=,M9DALQG>
'A>=,M=KLAGFF9AJ=(,G'


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=+J=>=J=F;=G>
(=<A;9LAGF+G(


/G=N9DM9L=L@=K9>=LQ9F<LGD=J9:ADALQG>R9N=?=H9FLAFL@=9;ML=
LJ=9LE=FLG>EA?J9AF=9KE=9KMJ=<:QL@=>J=IM=F;QG>9<N=JK==N=FLK
G>EG<=J9L=GJK=N=J=AFL=FKALQK=JAGMK9<N=JK==N=FLK;DAFA;9DDQ
J=D=N9FLD9:GJ9LGJQL=KL9:FGJE9DALA=K9F<F9K9DAFKH=;LAGF
9:FGJE9DALA=K


/G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=.@==@9F.MA;A<9DALQ
/J9;CAF?.;9D=.	./.

$?@/D
0>429
/@AKAK9<GM:D=	:DAF<J9F<GEAR=<EMDLA;=FL=JGMLH9LA=FL=N9DM9LAGFG>
L@=K9>=LQ9F<=>>A;9;QG>R9N=?=H9FLN=JKMKHD9;=:GAFL@=LJ=9LE=FLG>
EG<=J9L=GJK=N=J=EA?J9AF=
/@=KLM<Q<JM?OADD:=$)R9N=?=H9FLGJ
E9L;@AF?HD9;=:G
/@=KLM<QOADDJ9F<GEAR=9HHJGPAE9L=DQKM:B=;LK
AF9J9LAG:=LO==FL@=LJ=9LE=FL?JGMHKR9N=?=H9FLGJHD9;=:G

-9F<GEAR9LAGFOADD:=KLJ9LA>A=<:QHJGH@QD9;LA;EA?J9AF=E=<A;9LAGFMK=
Q=KGJFG


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









>L=JJ9F<GEAR9LAGFKM:B=;LKOADD:=<AKH=FK=<9KAF?D=<GK=G><GM:D=	
:DAF<KLM<Q<JM?
.M:B=;LKOADD:=AFKLJM;L=<LGL9C=KLM<Q<JM?9K9F
GMLH9LA=FLO@=FA>L@=Q@9N=9EA?J9AF=@=9<9;@=G>EG<=J9L=GJK=N=J=
H9AFAFL=FKALQ9F<GFDQ9>L=JL@=Q@9N=J=HGJL=<L@=AJHJ=	<GKAF?EA?J9AF=
;@9J9;L=JAKLA;KAFL@==D=;LJGFA;;DAFA;9DGML;GE=9KK=KKE=FL=*
@9F<@=D<<=NA;=
>L=JKM:B=;LK;GF>AJEL9CAF?KLM<Q<JM?AFL@==*
@9F<@=D<<=NA;=L@=QOADDJ=HGJLL@=>GDDGOAF?=>>A;9;Q<9L9AFL@==*
@9F<@=D<<=NA;=9L9F<EAFML=KHGKL<GK=9F<
9F<@GMJKHGKL<GK=@=9<9;@=H9AFAFL=FKALQMKAF?9	HGAFLFME=JA;
J9LAF?K;9D=FGF=EAD<EG<=J9L=K=N=J=HJ=K=F;=GJ9:K=F;=G>
EA?J9AF=KQEHLGEKF9MK=9H@GLGH@G:A9H@GFGH@G:A9>MF;LAGF9D
<AK9:ADALQD=N=DMKAF?9	HGAFLFME=JA;J9LAF?K;9D=FGJE9DEAD<DQ
AEH9AJ=<K=N=J=DQAEH9AJ=<J=IMAJ=K:=<J=KL
.M:B=;LKOADD9DKG;GEHD=L=
L@=(A?J9AF=,M9DALQG>'A>=,M=KLAGFF9AJ=(,G'9F<+J=>=J=F;=G>
(=<A;9LAGF+G(J9LAF?K;9D=9L@GMJKHGKL<GK=AFL@==*@9F<@=D<
<=NA;=
.M:B=;LKOADD:=AFKLJM;L=<LG;GFL9;LL@=KLM<Q;=FL=JAEE=<A9L=DQ
A>9K=N=J=GJK=JAGMK9<N=JK==N=FL. G;;MJK

.M:B=;LKOADDJ=LMJFLGL@=KLM<QKAL=OAL@AF<9QKG>L9CAF?KLM<Q
<JM?>GJJ=NA=OG>L@==*@9F<@=D<<=NA;=9KK=KKE=FLG>KLM<Q<JM?
;GEHDA9F;=9F<EGFALGJAF?G>K9>=LQ9F<LGD=J9:ADALQAF;DM<AF?NAL9D
KA?FKD9:GJ9LGJQL=KLK9F<=D=;LJG;9J<AG?J9EK6 "K7
$>9KM:B=;L@9K
)*/=PH=JA=F;=<9EA?J9AF=@=9<9;@=G>EG<=J9L=GJK=N=J=H9AFAFL=FKALQ
OAL@AF<9QK9>L=JJ9F<GEAR9LAGFL@=QKLADD9J=J=IMAJ=<LG;GEHD=L=9DD
 F<G>/J=9LE=FL */1AKALHJG;=<MJ=K
DDKM:B=;LKEMKLJ=LMJFMFMK=<
KLM<Q<JM?9F<=*@9F<@=D<<=NA;=LGL@=KLM<Q;=FL=J



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









!"#%!"

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









"""!
$&#* $

'	
!$ &# +!  %# 
$%**%# '+'!%
%#$ #%&%%#%% #
 %%*'$%% #$%%%
$%&*$&#*$* !$$
$%&*$%
%  %%$	
$% %$	
$% #'% $	
	
%# &% #% 	
		
%30=,;0@?4.=0,,.62=:@9/	
	

!=:/@.?0A07:;809?,.62=:@9/	
	
	
:97494.,7!3,=8,.:7:2D	
	
		
:97494.,7!3,=8,.:6490?4.>!3,=8,.:/D9,84.>,9/%:C4.:7:2D	
	


$@88,=D:17494.,7C;0=409.0	
	

	
$49270>.09/492:>0$'			
	



@7?4;70>.09/492:>0$?@/D'	
	
	


!3,>0
:>0#,92492$?@/D'
		
	
$?@/D#,?4:9,70	
		
$?@/D0>429#,?4:9,70	
	

:>0$070.?4:9#,?4:9,70

	
 ?30=#,?4:9,70#07,?0/?:?30:8;:@9/$?@/D

	
#0>0,=.3D;:?30>4>



$%&* %'$
	

	
!=48,=D -50.?4A0>
	



$0.:9/,=D -50.?4A0>
	


C;7:=,?:=D -50.?4A0>



$%&*! %$

	
!=48,=D9/;:49?>



$0.:9/,=D9/;:49?>


C;7:=,?:=D9/;:49?>41,;;74.,-70


0,>@=0>:19?0=0>?


$%&*!

	
$?@/D0>429,9/@=,?4:9



$?@/D$.308,?4.


$.30/@70:1>>0>>809?>

	
$.=009492!3,>0
/,D>



#,9/:84E,?4:9!3,>0%=0,?809?!3,>0/,D>


	
0 ,9/307/0A4.0,?,:770.?4:9

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.		8/










C?09>4:9!3,>041,;;74.,-70

(,>3:@?!3,>041,;;74.,-70

9/:1%=0,?809?

!:>?$?@/D..0>>?:%30=,;D41,;;74.,-70

! !&% 
	
@8-0=:1$@-50.?>


9.7@>4:9=4?0=4,

C.7@>4:9=4?0=4,

!=:34-4?0/:9.:84?,9?0/4.,?4:9>

#0>.@00/4.,?4:9>


(:809:1347/-0,=492!:?09?4,7


 ?30=#0>?=4.?4:9>,9/!=0.,@?4:9>41,;;74.,-70

0A4,?4:91=:89.7@>4:9C.7@>4:9=4?0=4,

$%&* &%$#!%  $%&*!# &#$
	
$?@/D,?0=4,7>


7424-474?D>>0>>809?>

$,10?D>>0>>809?>
	
'4?,7$429>,9/!3D>4.,70,>@=0809?>0423?,9/(0423?


70.?=:.,=/4:2=,8

!3D>4.,7C,8
	
,>,79>;0.?4:9

,-:=,?:=D>>0>>809?>
	
$,10?D,-:=,?:=D%0>?492


!=029,9.D%0>?492

$3003,9$@4.4/,74?D%=,.6492$.,70$$%$

114.,.D>>0>>809?>
	
!,49


,@>0,!3:9:;3:-4,,9/!3:?:;3:-4,

#0>.@00/4.,?4:9

@9.?4:9,74>,-474?D

 ?30=>>0>>809?>
	
42=,490"@,74?D:1410"@0>?4:99,4=0


!=010=09.0:10/4.490

,=7D4>.:9?49@,?4:91=:8?30$?@/D
	
:>??::77:B&;

7494.,7%=4,7$@-50.?,?,-,>0%$/,?,-,>0	

$%&*#&%

	
0>.=4;?4:9:1$?@/D=@2

		
9A0>?42,?4:9,7!=:/@.?

	

:99A0>?42,?4:9,7!=:/@.?

	
:=8@7,?4:9

	
!,.6,2492$34;809?,9/$?:=,20



:>0,9//8494>?=,?4:9

	
0?3:/:1>>429492$@-50.?/09?414.,?4:9

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	
8/












$070.?4:9,9/%48492:1:>0,9//8494>?=,?4:9


:>0:/414.,?4:9>

749/492,9/&9-749/492

%=0,?809?:8;74,9.0

0>?=@.?4:9,9/#0?@=9:1$?@/D=@2

'#$'%$
	
$# &$'#$'%
		
01494?4:9:1$0=4:@>/A0=>0A09?$
	

>>0>>809?1:=0?0=849492#07,?4:9>34;:1?:$?@/D=@2
	
:770.?4:9,9/#0;:=?492$0=4:@>/A0=>0A09?>
	
 A0=/:>0
	
:>084>,/8494>?=,?4:9,9/;?,=&$8,71@9.?4:9
	
!=029,9.D
	
!:?09?4,7=@29/@.0/4A0=95@=D


/A0=>0A09?>:1$;0.4,79?0=0>?	

	
:9>0=4:@>/A0=>0A09?>	

		
:770.?4:9,9/#0;:=?492:1:9$0=4:@>/A0=>0A09?>	



,-:=,?:=D%0>?-9:=8,74?40>	

$%%$%$

	
$,8;70$4E0



9,7D>4>$0?>


$?,?4>?4.,70?3:/>

	
114.,.D9,7D>0>

		
!=48,=D9/;:49?>
	

$0.:9/,=D9/;:49?>


$,10?D9,7D>0>

$.30/@70:19,7D>0>
	 %$#$! $%$
		
::/7494.,7!=,.?4.0
	

,?,,9/$,10?D:94?:=492:884??00
	
$?00=492:884??00
	
9>?4?@?4:9,7#0A40B:,=/9/0;09/09??34.>:884??00
	
91:=80/:9>09?
	
,>0#0;:=?:=8>
		 # #$%
			
$:@=.0:.@809?,?4:9
		

$?@/D470>,9/#0.:=/#0?09?4:9
	
 %$
	 $%&*#! #%!&% $	
	 $%&*$ %&% 

	  %%*
	 !!$
		
!!)$?=:92*!934-4?:=>,9/9/@.0=>:?,7749.7@>4A0
	

!!)$?@/D!0=>:9907

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









!# %  !!# ' #
	 ##$

!""!
%,-70	
$.30/@70:1>>0>>809?>



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









!" $"!
.
#
 
;ML=GJGF9JQ.QF<JGE=
LL=FLAGF=>A;AL#QH=J9;LANALQAKGJ<=J
<N=JK= N=FL
'/
D9FAF=EAFGLJ9FK>=J9K=
./
/
KH9JL9L=EAFGLJ9FK>=J9K=
EAFGLJ9FK>=J9K=
0
J=90F<=JL@=MJN=
:A<
/OA;=9ADQ
+
DGG<+J=KKMJ=
0)
DGG<0J=9)ALJG?=F


(9PAEME+D9KE9GF;=FLJ9LAGF
(AFAEMEGF;=FLJ9LAGF
"-+
$
9D;ALGFAF?=F=	J=D9L=<H=HLA<=
GF>A<=F;=AFL=JN9D
*)( 
GF;GEAL9FL(=<A;9LAGF
*1$	
-!
-*
/ 


$.
$'$
GJGF9NAJMKAK=9K=
9K=-=HGJL!GJE
DAFA;9D-=K=9J;@*J?9FAR9LAGF
GEEGF/=JEAFGDG?QJAL=JA9>GJ<N=JK= N=FLK
DAFA;9D/JA9D.M:B=;L9L9:9K=
ANAKAGFG>$.
JM?AF<M;=<DAN=JAFBMJQ
.(
.(	1
9L99F<.9>=LQ(GFALGJAF?GEEALL==
A9?FGKLA;9F<.L9LAKLA;9D(9FM9DG>(=FL9DAKGJ<=JK>A>L@=<ALAGF
 
 "
=*
=-!
 
=A9JQ
 */
=+-*
!
 L@A;K;GEEALL==
 D=;LJG;9J<AG?J9E
 D=;LJGFA;;DAFA;9DGML;GE=9KK=KKE=FL
 D=;LJGFA;;9K=J=HGJL>GJEK
 D=;LJGFA;<9L9;9HLMJ=
 D=;LJGFA;<A9JQ
 F<G>LJ=9LE=FL
 D=;LJGFA;H9LA=FLJ=HGJL=<GML;GE=
!GG<9F<JM?<EAFAKLJ9LAGF

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









!.#
!GDDA;D=KLAEMD9LAF?@GJEGF=
"+
"'+
#$1
"GG<DAFA;9D+J9;LA;=
"GG<D9:GJ9LGJQHJ9;LA;=
#ME9F$EEMFG<=>A;A=F;Q1AJMK
#-
#-/
#=9JL-9L=
#GJEGF=-=HD9;=E=FL/@=J9HQ
$!
$F>GJE=<GFK=FL!GJE
$
$FN=KLA?9LGJZKJG;@MJ=
$#
$FL=JF9LAGF9DGF>=J=F;=GF#9JEGFAR9LAGF
$#.
$ 
$FL=JF9LAGF9D#=9<9;@=.G;A=LQ
$F<=H=F<=FL L@A;KGEEALL==
$)
$+
$FLJ9F9K9D
$FN=KLA?9LAGF9D+JG<M;L
$-
$FKLALMLAGF9D-=NA=OG9J<
$1
$2-.
$FLJ9N=FGMK
$FL=J9;LAN=2=:-=KHGFK=.QKL=E
C?
&ADG?J9E
'
'#
''
(.
(-
(=<-
E$//
'AL=JK
'9;L9L=<=@Q<JG?=F9K=
'GO	<=FKALQDAHGHJGL=AF
(GKL:GL@=JKGE=KQEHLGE
(G<A>A;9LAGFG>A=LAF-=F9DAK=9K=
(=<A;9D<A;LAGF9JQJ=?MD9LGJQ9;LANALA=K
(G<A>A=<AFL=FLLGLJ=9L
E?
($
(ADDA?J9E
(QG;9J<A9D$F>9J;LAGF
EAF
(AFML=
EE#?
(,G'
(K=;K
(/
(ADDAE=L=JK(=J;MJQ
(A?J9AF=IM9DALQG>DA>=IM=KLAGFF9AJ=
(ADDAK=;GF<K
(9PAEMELGD=J9L=<<GK=
)* '
)G*:K=JN=< >>=;L'=N=D
)* '
)G*:K=JN=<<N=JK= N=FL'=N=D
).$K
)GFKL=JGA<9DFLA	$F>D9EE9LGJQJM?K

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









)-.
*/
+$
++
)ME=JA;J9LAF?K;9D=
*N=JL@=;GMFL=J
+=J;ML9F=GMK;GJGF9JQAFL=JN=FLAGF
+@=F;Q;DA<AF=
+&
+@9JE9;GCAF=LA;
HG
+G(
+1"
Q(GML@*J9DDQ
+J=>=J=F;=G>E=<A;9LAGF
+@9JE9;GNA?AD9F;=
I<
,/;
*F;=9ADQ
$FL=JN9D:=LO==F,	O9N=9F</	O9N=AFL@=;9J<A9;;Q;D=
.
. 
.	./.
/'
/$
/E9P
0.
0')
0.+$
2
.AF?D=9K;=F<AF?<GK=
.=JAGMK<N=JK= N=FL
.@==@9F.MA;A<9DALQ/J9;CAF?.;9D=
/GL9DADAJM:AF
/J9FKA=FL$K;@=EA;LL9;C
/AE=G>G:K=JN=<E9P
0FALGK=.QKL=E
0HH=J'AEALG>)GJE9D
0.+J=K;JA:AF?$F>GJE9LAGF
2@AL=DGG<=DD
2#*
2*+
2GJD<#=9DL@*J?9FAR9LAGF
2GE=FG>;@AD<:=9JAF?HGL=FLA9D


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









 " #" "

,)5%4)87-'5)%%'/+5382(
(A?J9AF=AK9;GEEGF9F<<=:ADAL9LAF?F=MJGDG?A;9D<AKGJ<=JL@9L9>>=;LK9HHJGPAE9L=DQG>
L@=9<MDLHGHMD9LAGF
(A?J9AF=AK;@9J9;L=JAR=<:QEG<=J9L=	LG	K=N=J==HAKG<A;MFAD9L=J9D
HMDK9LAF?@=9<9;@=KL@9LD9KL>GJLG@GMJK
/QHA;9D;@9J9;L=JAKLA;KG>L@=@=9<9;@=9J=
MFAD9L=J9DDG;9LAGFHMDK9LAF?IM9DALQEG<=J9L=GJK=N=J=AFL=FKALQ9??J9N9LAGF:QJGMLAF=
H@QKA;9D9;LANALQ9F<9KKG;A9LAGFOAL@F9MK=99F<GJH@GLGH@G:A99F<H@GFGH@G:A9
/JAHL9FK
@9N=:==FMK=<LGLJ=9LEA?J9AF=9LL9;CKOAL@N9JQAF?J=KMDLKAF;DM<AF?AF;GEHD=L=9F<
AF;GFKAKL=FLJ=DA=>9L@GMJK9F<L@=J=;MJJ=F;=G>EA?J9AF=OAL@AF	@GMJK9>L=JLJ=9LE=FL

$F9<<ALAGFLJAHL9FK9J=;GFLJ9AF<A;9L=<AFH9LA=FLKOAL@;9J<AGN9K;MD9J=N=FLK=
?
EQG;9J<A9D
AF>9J;LAGF;GF<ALAGFK=
?
9F?AF99F<HJG;=<MJ=K=
?
;9JGLA<=F<9JL=J=;LGEQ<M=LG
N9KG;GFKLJA;LAN=HJGH=JLA=K
-=;=FL=KLAE9L=KAF<A;9L=L@9LL@=J=9J=
EADDAGFE=JA;9FKOAL@
EA?J9AF=O@G@9N=9;9J<AGN9K;MD9J=N=FL;GF<ALAGFGJHJG;=<MJ=<=EGFKLJ9LAF?L@=F==<>GJ
FGF	N9KG9;LAN=EA?J9AF=LJ=9LE=FLK

59N=?=H9FL#1	AK9K=D=;LAN=;GEH=LALAN="-+J=;=HLGJ9FL9?GFAKL:=AF?<=N=DGH=<
>GJL@=LJ=9LE=FLG>EA?J9AF=
59N=?=H9FLAK:=AF?<=N=DGH=<>GJAFLJ9F9K9D$)9<EAFAKLJ9LAGF

/@="-+J=;=HLGJAKDG;9L=<OAL@AFH9AF	KA?F9DAF?H9L@O9QKAFLJ9;J9FA9D9JL=JA=K9F<L@=
LJA?=EAF9D?9F?DAGF9F<ALK9;LAN9LAGFAKL@GM?@LLGHD9Q9;9MK9DJGD=AFEA?J9AF=
H9L@GH@QKAGDG?Q
!GJ=P9EHD=J=K=9J;@9F<;DAFA;9DKLM<A=K@9N=K@GOFL@9LK=JMED=N=DKG>
"-+9J==D=N9L=<<MJAF?EA?J9AF=9LL9;CKAF>MKAGFG>AFLJ9N=FGMK"-+HJG<M;=KH=JKAKL=FL
H9AFAFEA?J9AF=KM>>=J=JK9F<FGF	EA?J9AF=KM>>=J=JK	
9F<LJ=9LE=FLOAL@9FLA	EA?J9AF=<JM?K
FGJE9DAR=K"-+D=N=DK
<<ALAGF9DDQEMDLAHD=;DAFA;9DKLM<A=KK@GOL@9LKE9DDEGD=;MD=
"-+J=;=HLGJ9FL9?GFAKLKO@A;@AF@A:ALL@=:AF<AF?G>=F<G?=FGMK"-+LG"-+J=;=HLGJK
9J==>>=;LAN=AF9:GJLAF?EA?J9AF=9LL9;CK
/J=9LE=FLOAL@9"-+J=;=HLGJ9FL9?GFAKLAK
:=DA=N=<LGJ=DA=N=EA?J9AF=L@JGM?@L@=HGKKA:D=E=;@9FAKEKG>:DG;CAF?F=MJG?=FA;
AF>D9EE9LAGF<=;J=9KAF?9JL=JQ<AD9LAGF9F<AF@A:ALAF?H9AFLJ9FKEAKKAGF
/@AKF=O
9HHJG9;@LGL@=LJ=9LE=FLG>EA?J9AF=9NGA<KL@=;9J<AGN9K;MD9J=>>=;LKHJG<M;=<:Q9;LAN=
N9KG;GFKLJA;LAGF9KKG;A9L=<OAL@L@=;MJJ=FLKL9F<9J<LJAHL9FL@=J9HQFGF	K=D=;LAN=	#/
9?GFAKLK=
?
KME9LJAHL9F6$EALJ=PS7

KMEE9JQG>L@=FGF;DAFA;9DAFN=KLA?9LAGF9DHJG?J9EK;9F:=>GMF<AFL@=;MJJ=FL$FN=KLA?9LGJZK
JG;@MJ=$


53(8'7)9)0341)27%'/+5382(
=L9ADKG>L@=;DAFA;9D9F<HJ=;DAFA;9DKLM<A=K9J=HJGNA<=<AFL@=EGKL;MJJ=FLN=JKAGFG>L@=
$FN=KLA?9LGJZKJG;@MJ=
KMEE9JQG>L@=J=D=N9FL<9L9AKHJ=K=FL=<:=DGO


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









	
431.3.(&1-&62&(414,=
	
		
-,*(,(" *' /+ "-)(,$1("0' /+ "-#5, +("0 ,#-4("-*-&5
K=JA=KG>AFNALJG9F<AFNANGH@9JE9;GCAF=LA;+&9F<E=L9:GDAKEKLM<A=KO=J=;GF<M;L=<
OAL@#1	AFJ9LK<G?KJ9::ALKEA;=9F<EGFC=QK
.9>=LQKLM<A=KO=J=9DKGH=J>GJE=<AF
J9L9F<EGFC=QLG<=L=JEAF=LGD=J9:ADALQHGL=FLA9D>GJDG;9DAJJAL9LAGF9F<LG9KK=KKKQKL=EA;
LGPA;ALQ
/@=<=L9ADKG>L@=K=KLM<A=K;9F:=>GMF<AFL@=59N=?=H9FL#1	$FN=KLA?9LGJ
JG;@MJ=$

		
!922&6=4+1.3.(&1<5*6.*3(*
	

	
(,&*$0"$,#(,&-0$		
<EAFAKLJ9LAGFG>AFLJ9F9K9DR9N=?=H9FLAFL@=+@9K=<GM:D=	:DAF<HD9;=:G	;GFLJGDD=<KAF?D=
9K;=F<AF?<GK=.KLM<QJ9F?AF?>JGE
E?LGE?O9KK9>=9F<O=DDLGD=J9L=<AF@=9DL@Q
9<MDLKM:B=;LK
LGL9DG>KM:B=;LKO=J=J9F<GEAR=<9F<J=;=AN=<9KAF?D=<GK=G>#1	GJ
E9L;@=<HD9;=:G9K9KAF?D=AFLJ9F9K9D<GK=G>
E?LGE?9F<;GEHD=L=<L@=KLM<Q
GK=
=K;9D9LAGFLGL@=@A?@=KLHD9FF=<<GK=G>E?O9K;GEHD=L=<9F<FG<GK=DAEALAF?LGPA;ALQO9K
G:K=JN=<
(9PAEME/GD=J9L=<GK=(/O9KFGLA<=FLA>A=<
$)9<EAFAKLJ9LAGFG>R9N=?=H9FL
AF L@AK KLM<Q HJG<M;=< HD9KE9 D=N=DK HJ=<A;L=< LG := OAL@AF L@= L@=J9H=MLA; J9F?= :9K=< GF
HJ=;DAFA;9DEG<=DKHJ=<A;LAN=>GJ;GEHGMF<KG>L@AK;D9KK

/@=J=O=J=FGK=JAGMK9<N=JK==N=FLK. K<=9L@KGJ KD=9<AF?LG<AK;GFLAFM9LAGFJ=HGJL=<
AFL@AKKLM<Q
/@=E9BGJALQG>9<N=JK==N=FLK KO=J=EAD<AFL=FKALQ9F<J=KGDN=<KHGFL9F=GMKDQ
:QL@==F<G>LJ=9LE=FL
/@=EGKL>J=IM=FLDQJ=HGJL=<LJ=9LE=FL	=E=J?=FL9<N=JK==N=FLKO=J=
@=9<9;@=<QK?=MKA9<ARRAF=KKF9K9D;GF?=KLAGF9F<:9;CH9AF
)GF9K9DEM;GK9DAFBMJQO9K
G:K=JN=<9L9DD<GK=KL=KL=<
/@=J=O9KFG9HH9J=FL<GK=J=D9LAGFK@AHAF=AL@=JL@=AF;A<=F;=GJ
AFL=FKALQG>L@= KJ=HGJL=<9;JGKKL@=<GK=J9F?=G>
E?LGE?

	



2*1(.*$0"$,#(,&-0$12#5	

/@=+@9K=EMDLAHD=9K;=F<AF?<GK=(KLM<Q=N9DM9LAF?L@=K9>=LQLGD=J9:ADALQ9F<+&G>
R9N=?=H9FL>GDDGOAF?$)9<EAFAKLJ9LAGFG>(HD9;=:GE?E?GJE?AFFGJE9D
@=9DL@QKM:B=;LK@9K;GF;DM<=<
$FL@AKKLM<Q9LGL9DG>@=9DL@QKM:B=;LK;G@GJLKO=J=
9<EAFAKL=J=<EMDLAHD=9K;=F<AF?<GK=KG>$)R9N=?=H9FLHD9FF=<<GK=KG>E?E?GJ
E?)H=JLJ=9LE=FL?JGMH6R9N=?=H9FL+*7OAL@L@=>AJKLG@GJLKJ=;=ANAF?9
GF;=<9ADQ<GK=>GJ<9QK
G@GJLJ=;=AN=<LOGK=IM=FLA9DE?R9N=?=H9FL<GK=KFGJ
HD9;=:GFK=H9J9L=<:QLOG@GMJKE?LGL9D<9ADQ>GJ;GFK=;MLAN=<9QK
/OG9<<ALAGF9D
9DL=JF9L=<GKAF?;G@GJLKJ=;=AN=<J=H=9L=<$)9<EAFAKLJ9LAGFKG>R9N=?=H9FLE?GJHD9;=:G
GF9KAF?D=<9Q
+J=DAEAF9JQK9>=LQ<9L9>JGE#1	AF<A;9L=<L@9LR9N=?=H9FLO9KO=DD
LGD=J9L=<9L9DD<GK=D=N=DK9F<9E9PAEMELGD=J9L=<<GK=O9KFGLA<=FLA>A=<
)G<=9L@KGJ. ZK
O=J=J=HGJL=<AFL@AKKLM<Q
<<ALAGF9D<=L9ADK;9F:=>GMF<AFL@=$FN=KLA?9LGJZK:JG;@MJ=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









	


' 0$
-0$ ,&(,&12#5
	
/@=HANGL9D+@9K=<GK=	J9F?AF?KLM<Q=N9DM9LAF?L@=K9>=LQ9F<=>>A;9;QG><A>>=J=FL$)
<GK=D=N=DKE?E?E?G>R9N=?=H9FLJ=D9LAN=LGHD9;=:GAFL@=9;ML=LJ=9LE=FLG>
EA?J9AF=OAL@EG<=J9L=LGK=N=J=H9AFAFL=FKALQ@9K;GF;DM<=<
+J=DAEAF9JQ<9L9>JGE
#1	AF<A;9L=L@9LR9N=?=H9FL9K9KAF?D=$)KHJ9Q;GFL9AFAF?E?E?GJE?O9K
O=DDLGD=J9L=<AF9<MDLKM:B=;LKOAL@EG<=J9L=LGK=N=J=EA?J9AF=9LL9;CK9F<<=EGFKLJ9L=<9
>9NGMJ9:D=K9>=LQHJG>AD=;GEH9J9:D=OAL@HD9;=:G
/@=KLM<QE=LL@=HJAE9JQ=F<HGAFL9F<L@=
E?<GK=O9KA<=FLA>A=<9KL@=DGO=KL=>>A;9;AGMK<GK=<=EGFKLJ9LAF?KL9LAKLA;9DDQKA?FA>A;9FL
=>>A;9;Q

)G<=9L@KO=J=J=HGJL=<AFL@=KLM<Q
. KO=J=J=HGJL=<AFLOGGFLJ=9LE=FLKM:B=;LK
AF;DM<AF?L@JGE:GKAKJ=HGJL=<AFKM:B=;L>JGEL@=E??JGMH9F<N=KLA:MD9JEA?J9AF=
J=HGJL=<AFKM:B=;LAFL@=HD9;=:G?JGMH
GL@=N=FLKO=J=EG<=J9L=AFAFL=FKALQ9F<BM<?=<:Q
L@=AFN=KLA?9LGJ9KFGLJ=D9L=<LGKLM<QL@=J9HQ
/@=. G>L@JGE:GKAKO9KJ=HGJL=<<9QK
9>L=JL@=KAF?D=<GK=G>R9N=?=H9FL9KHGKLLJ9ME9>JGE9F9MLGEG:AD=9;;A<=FL
<<ALAGF9D
<=L9ADK;9F:=>GMF<AFL@=$FN=KLA?9LGJZKJG;@MJ=

	
78(<%7-32%0)
59N=?=H9FLAK:=AF?<=N=DGH=<>GJL@=9;ML=LJ=9LE=FLG>EA?J9AF=NA9L@=AFLJ9F9K9DJGML=

/@AKKLM<QOADD;@9J9;L=JAR=L@=K9>=LQ9F<=>>A;9;QG>R9N=?=H9FLJ=D9LAN=LGHD9;=:GAFL@=9;ML=
LJ=9LE=FLG>EG<=J9L=LGK=N=J=EA?J9AF=OAL@GJOAL@GML9MJ9AF9<MDLK



!89)=*7.,3 &8.43&1*
/@AKAK9+@9K=<GM:D=	:DAF<J9F<GEAR=<EMDLA;=FL=JGMLH9LA=FL=N9DM9LAGFG>L@=K9>=LQ9F<
=>>A;9;QG>R9N=?=H9FL9K;GEH9J=<LGE9L;@AF?HD9;=:GAFL@=9;ML=LJ=9LE=FLG>EG<=J9L=GJ
K=N=J=EA?J9AF=
/@=AFN=KLA?9LAGF9DHJG<M;LAK>GJEMD9L=<9KR9N=?=H9FLE?AFLJ9F9K9D$)
GJE9L;@AF?HD9;=:G
/@=KLM<Q<JM?OADD:=9<EAFAKL=J=<MKAF?9FHL9J0FALGK=.QKL=E
0.DAIMA<KHJ9Q<=NA;=;GFL9AFAF?9KAF?D=<GK=G>R9N=?=H9FLGJE9L;@AF?HD9;=:G
/@=
KM:B=;LKOADD:=AFKLJM;L=<LGL9C=L@=AJKLM<Q<JM?9K9FGMLH9LA=FLO@=FA>L@=Q@9N=9
EA?J9AF=@=9<9;@=O@A;@J=9;@=KEG<=J9L=GJK=N=J=H9AFAFL=FKALQ

/@=KLM<QOADDK;J==F9HHJGPAE9L=DQKM:B=;LKLGJ9F<GEAR=9HHJGPAE9L=DQKM:B=;LK

/@=KM:B=;LKOADD:=J9F<GEAR=<AF9J9LAGLGL@=R9N=?=H9FLGJE9L;@AF?HD9;=:GLJ=9LE=FL
?JGMHK
/@=J9F<GEAR9LAGFOADD:=KLJ9LA>A=<:QL@=MK=G>HJGH@QD9;LA;EA?J9AF=E=<A;9LAGFK
Q=KGJFG


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










	
47*!*1*(8.43 &8.43&1*
KG>	=;	GN=JKM:B=;LK@9N=9<EAFAKL=J=<9LD=9KL<GK=G>R9N=?=H9FL
E?

E?E?E?E?E?E?GJE?AF+@9K=KLM<A=KAF@=9DL@QKM:B=;LKGJ
+@9K=KLM<A=KAFKM:B=;LKOAL@EA?J9AF=
EGF?L@=K=KM:B=;LKEGJ=L@9F@9N=
J=;=AN=<$)R9N=?=H9FL9LE?E?E?GJE?<GK=K

.9>=LQ<9L99J=FGO9N9AD9:D=>JGEL@=HANGL9D+@9K=<GK=J9F?AF?KLM<Q#1	

#1	AK9;GF;DM<=<HANGL9D+@9K=<GM:D=	:DAF<J9F<GEAR=<HD9;=:G	;GFLJGDD=<
<GK=	J9F?AF?E?E?GJE?KLM<QG>R9N=?=H9FL$)>GJL@=9;ML=LJ=9LE=FLG>
EA?J9AF=
/@=HJAE9JQG:B=;LAN=O9KLG=N9DM9L=L@==>>A;9;QG>R9N=?=H9FL;GEH9J=<OAL@
HD9;=:GAFL@=9;ML=LJ=9LE=FLG>EA?J9AF=9KE=9KMJ=<:QL@=;GHJAE9JQ=F<HGAFLKG>H9AF
>J==<GE9F<>J==<GE>JGEEGKL:GL@=JKGE=KQEHLGE(.9KKG;A9L=<OAL@EA?J9AF=9L
@GMJKHGKL<GK=O@AD=A<=FLA>QAF?9FGHLAE9D<GK=>GJ=N9DM9LAGFAFL@=+@9K=;DAFA;9D
<=N=DGHE=FLHJG?J9E

$FL@AKKLM<Q9LGL9DG>KM:B=;LKO=J=J9F<GEAR=<LGJ=;=AN=R9N=?=H9FLE?E?GJ
E?GJE9L;@AF?HD9;=:G
/@=J9F<GEAR9LAGFO9KKLJ9LA>A=<:QL@=MK=G>HJGH@QD9;LA;
EA?J9AF=E=<A;9LAGFQ=KGJFG
LGL9DG>KM:B=;LKO=J=LJ=9L=<OAL@R9N=?=H9FL$)E?
KM:B=;LKE?KM:B=;LKE?KM:B=;LKGJE9L;@AF?HD9;=:GKM:B=;LK

*N=J9DDKM:B=;LK;GEHD=L=<L@=KLM<Q
/@=E?9F<E?<GK=K9;@A=N=<KL9LAKLA;9D
KMH=JAGJALQLGHD9;=:GGF:GL@;GHJAE9JQ=F<HGAFLKG>H9AF>J==<GE9F<>J==<GE>JGEL@=EGKL
:GL@=JKGE=KQEHLGE(.9L@GMJK
-9HA<GFK=LG>H9AFJ=DA=>O9KK==F9K=9JDQ9KEAF
OAL@J=LMJFLGFGJE9D>MF;LAGF9LEAFML=K
/@=:=F=>ALKG>R9N=?=H9FLO=J=<MJ9:D=9F<
KMKL9AF=<OAL@GMLJ=K;M=E=<A;9LAGFL@JGM?@@GMJK

9K=<GFLGHDAF=<9L9>JGEL@AKHANGL9DKLM<Q9<MJ9:D==>>A;9;QHJG>AD=>GJR9N=?=H9FLO9K
=KL9:DAK@=<
/@AK=>>A;9;QHJG>AD=LG?=L@=JOAL@9>9NGJ9:D=K9>=LQHJG>AD=D=<LGL@=K=D=;LAGFG>
L@=$)R9N=?=H9FLE?<GK=9KL@=DGO=KL>MDDQ=>>A;9;AGMK<GK=LGKMHHGJL+@9K=;DAFA;9D
KLM<A=K




8-*6 &8.43&1* *1&8*)848-*425493)!89)=
)GLHHDA;9:D=



 *7*&6(-=548-*7.7

			
	
			

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
	8/









 !"#%"$!

5-1%5<&.)'7-9)6
/G;GEH9J=L@==>>A;9;QG>R9N=?=H9FLOAL@HD9;=:GAFL@=9;ML=LJ=9LE=FLG>EA?J9AF=9K
E=9KMJ=<:Q;G	HJAE9JQ=F<HGAFLKG>H9AF>J==<GE9L@GMJKHGKL<GK=9F<>J==<GE>JGEL@=
EGKL:GL@=JKGE=KQEHLGE(.9KKG;A9L=<OAL@EA?J9AF=9L@GMJKHGKL<GK=


)'32(%5<&.)'7-9)6

 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9L@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9L@GMJKHGKL<GK=
9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AFJ=DA=>>JGELG@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AFJ=DA=>>JGELG@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AF>J==<GE>JGELG@GMJK
HGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJKMKL9AF=<H9AF>J==<GE>JGELG@GMJK
HGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH@GFGH@G:A9>J==<GE9L@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH@GLGH@G:A9>J==<GE9L@GMJKHGKL<GK=


 /G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=KHGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9LEAFML=KHGKL<GK=
9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=KHGKL<GK=


/G;GEH9J=L@=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9LEAFML=K
HGKL<GK=9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=DA=>9LEAFML=KHGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9LEAFML=KHGKL<GK=
9;;GJ<AF?LGL@=!MF;LAGF9DAK9:ADALQK;9D=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJJ=K;M=E=<A;9LAGFMK=OAL@AF@GMJKHGKL<GK=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.

8/










/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJF9MK=9>J==<GE9L@GMJKHGKL<GK=


/G;GEH9J=R9N=?=H9FLOAL@HD9;=:G>GJH9AFJ=D9HK=>JGELG@GMJKHGKL<GK=

	
;4035%735<&.)'7-9)6

 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH9AF>J==<GE9L9DDK;@=<MD=<LAE=HGAFLK
HGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH9AFJ=DA=>9L9DDK;@=<MD=<LAE=HGAFLK
HGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJ>J==<GE>JGE(.9L9DDK;@=<MD=<LAE=
HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJJ=LMJFLGFGJE9D>MF;LAGF9L9DDK;@=<MD=<LAE=
HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH@GFGH@G:A9>J==<GE9L9DDK;@=<MD=<LAE=
HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJH@GLGH@G:A9>J==<GE9L9DDK;@=<MD=<LAE=
HGAFLKHGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJF9MK=9>J==<GE9L9DDK;@=<MD=<LAE=HGAFLK
HGKL<GK=


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=(A?J9AF=,M9DALQG>'A>=,M=KLAGFF9AJ=
(,G'


 /G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=+J=>=J=F;=G>(=<A;9LAGF+G(


/G=N9DM9L=L@=K9>=LQ9F<LGD=J9:ADALQG>R9N=?=H9FLAFL@=9;ML=LJ=9LE=FLG>EA?J9AF=9K
E=9KMJ=<:QL@=>J=IM=F;QG>9<N=JK==N=FLKG>EG<=J9L=GJK=N=J=AFL=FKALQK=JAGMK9<N=JK=
=N=FLK;DAFA;9DDQJ=D=N9FLD9:GJ9LGJQL=KL9:FGJE9DALA=K9F<F9K9DAFKH=;LAGF9:FGJE9DALA=K


/G=N9DM9L=R9N=?=H9FLJ=D9LAN=LGHD9;=:G>GJL@=.@==@9F.MA;A<9DALQ/J9;CAF?.;9D=.	
./.




'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









	 !"#%"!
/@=AFL=J;MJJ=FL=N=FLG>J=K;M=E=<A;9LAGFMK=OADD:=@9F<D=<MKAF?-=K;M=(=<A;9LAGF
!9ADMJ=-(!A
=
KM:B=;LKO@GL9C=J=K;M=E=<A;9LAGFOADD:=;D9KKA>A=<9K>9ADMJ=K>GJ9DD
=>>A;9;Q9KK=KKE=FLKL@9L9J=J=HGJL=<9LGJ9>L=JL9CAF?J=K;M=E=<A;9LAGF
/@=-(!E=L@G<
OADD9HHDQLG9DD=F<HGAFLKDAKL=<:=DGO=P;=HLL@=K=;GF<9JQ=F<HGAFLG>J=K;M=E=<A;9LAGFMK=
OAL@AF@GMJKHGKL<GK=

	
5-1%5<2(43-276
+9AF>J==<GE9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9H9AF
AFL=FKALQG>FGF=9L@GMJKHGKL<GK=
+9AFAFL=FKALQOADD:=E=9KMJ=<GF9	HGAFLFME=JA;J9LAF?
K;9D=FGF=EAD<EG<=J9L=K=N=J=

(.>J==<GE9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9F(.
L@9LAKJ=HGJL=<GFKLM<Q:=>GJ=<GKAF?9F<AK9:K=FL9L@GMJKHGKL<GK=
/@=(.GFKLM<Q
:=>GJ=<GKAF?OADD:=J=HGJL=<9KF9MK=9H@GFGH@G:A9GJH@GLGH@G:A9
.QEHLGEKL9LMKOADD:=
J=HGJL=<HGKL<GK=9KHJ=K=FLGJ9:K=FL>GJ=9;@KQEHLGEF9MK=9H@GFGH@G:A99F<
H@GLGH@G:A9

	
)'32(%5<2(43-276

 +9AFJ=DA=>9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9H9AF
AFL=FKALQG>FGF=GJEAD<9L@GMJKHGKL<GK=


 -=LMJFLGFGJE9D>MF;LAGF9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>
KM:B=;LKOAL@9>MF;LAGF9D<AK9:ADALQD=N=DG>FGJE9D9L@GMJKHGKL<GK=AFL@=KM:K=LG>
KM:B=;LKOAL@>MF;LAGF9D<AK9:ADALQ9LL@=LAE=G><GKAF?
!MF;LAGF9D<AK9:ADALQD=N=DOADD:=
E=9KMJ=<GF9	HGAFLFME=JA;J9LAF?K;9D=FGJE9DEAD<DQAEH9AJ=<K=N=J=DQ
AEH9AJ=<J=IMAJ=K:=<J=KL9F<>MF;LAGF9D<AK9:ADALQOADD:=<=>AF=<9KEAD<DQAEH9AJ=<
K=N=J=DQAEH9AJ=<GJJ=IMAJ=K:=<J=KL


 .MKL9AF=<H9AFJ=DA=>9L9DDLAE=HGAFLK>JGELG@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=
H=J;=FL9?=G>KM:B=;LKOAL@H9AFAFL=FKALA=KG>FGF=GJEAD<9L9DDLAE=HGAFLK>JGELG
@GMJKHGKL<GK=


 .MKL9AF=<H9AFJ=DA=>9L9DDLAE=HGAFLK>JGELG@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=
H=J;=FL9?=G>KM:B=;LKOAL@H9AFAFL=FKALA=KG>FGF=GJEAD<9L9DDLAE=HGAFLK>JGELG
@GMJKHGKL<GK=


 .MKL9AF=<H9AF>J==<GE9L9DDLAE=HGAFLK>JGELG@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?
L@=H=J;=FL9?=G>KM:B=;LKOAL@H9AFAFL=FKALA=KG>FGF=9L9DDLAE=HGAFLK>JGELG@GMJK
HGKL<GK=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










 .MKL9AF=<H9AF>J==<GE9L9DDLAE=HGAFLK>JGELG@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?
L@=H=J;=FL9?=G>KM:B=;LKOAL@H9AFAFL=FKALA=KG>FGF=9L9DDLAE=HGAFLK>JGELG@GMJK
HGKL<GK=


 +@GFGH@G:A9>J==<GE9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LK
OAL@H@GFGH@G:A99:K=FL9L@GMJKHGKL<GK=AFL@=KM:K=LG>KM:B=;LKOAL@H@GFGH@G:A9
HJ=K=FL9LL@=LAE=G><GKAF?


 +@GLGH@G:A9>J==<GE9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LK
OAL@H@GLGH@G:A99:K=FL9L@GMJKHGKL<GK=AFL@=KM:K=LG>KM:B=;LKOAL@H@GLGH@G:A9
HJ=K=FL9LL@=LAE=G><GKAF?


 +9AFJ=DA=>9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9
H9AFAFL=FKALQG>FGF=GJEAD<9LEAFML=KHGKL<GK=


-=LMJFLGFGJE9D>MF;LAGF9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>
KM:B=;LKOAL@9>MF;LAGF9D<AK9:ADALQD=N=DG>FGJE9D9LEAFML=KHGKL<GK=AFL@=KM:K=LG>
KM:B=;LKOAL@>MF;LAGF9D<AK9:ADALQ9LL@=LAE=G><GKAF?


+9AFJ=DA=>9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9
H9AFAFL=FKALQG>FGF=GJEAD<9LEAFML=KHGKL<GK=


-=LMJFLGFGJE9D>MF;LAGF9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>
KM:B=;LKOAL@9>MF;LAGF9D<AK9:ADALQD=N=DG>FGJE9D9LEAFML=KHGKL<GK=AFL@=KM:K=LG>
KM:B=;LKOAL@>MF;LAGF9D<AK9:ADALQ9LL@=LAE=G><GKAF?


+9AFJ=DA=>9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@9
H9AFAFL=FKALQG>FGF=GJEAD<9LEAFML=KHGKL<GK=


-=LMJFLGFGJE9D>MF;LAGF9LEAFML=KHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>
KM:B=;LKOAL@9>MF;LAGF9D<AK9:ADALQD=N=DG>FGJE9D9LEAFML=KHGKL<GK=AFL@=KM:K=LG>
KM:B=;LKOAL@9FQD=N=DG>>MF;LAGF9D<AK9:ADALQ9LL@=LAE=G><GKAF?


-=K;M=E=<A;9LAGFMK=OAL@AF@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>
KM:B=;LKO@GL9C=J=K;M=E=<A;9LAGFOAL@AF@GMJK9>L=JL9CAF?KLM<Q<JM?


)9MK=9>J==<GE9L@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LKOAL@
F9MK=99:K=FL9L@GMJKHGKL<GK=AFL@=KM:K=LG>KM:B=;LKOAL@F9MK=9HJ=K=FL9LL@=LAE=G>
<GKAF?


+9AFJ=D9HK=>JGELG@GMJKHGKL<GK=OADD:=9KK=KK=<MKAF?L@=H=J;=FL9?=G>KM:B=;LK
OAL@9H9AFAFL=FKALQG>EAD<EG<=J9L=GJK=N=J=9L9FQLAE=HGAFL9>L=J@GMJKL@JGM?@
@GMJKHGKL<GK=AFL@=KM:K=LG>KM:B=;LKOAL@H9AF>J==<GE9L@GMJKHGKL<GK=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









		
;4035%735<2(43-276-*%440-'%&0)
)GL9HHDA;9:D=

	

)%685)63*27)5)67
 >>A;9;QE=9KMJ=KKK=KKE=FLKG>EA?J9AF=H9AFAFL=FKALQEA?J9AF=KQEHLGEKH@GFGH@G:A9
H@GLGH@G:A9F9MK=99F<>MF;LAGF9D<AK9:ADALQ
.9>=LQE=9KMJ=K
•  K
•  "K
• 1AL9DKA?FK9F<H@QKA;9DE=9KMJ=E=FLK
• DAFA;9DD9:GJ9LGJQL=KLK
• .@==@9F.MA;A<9DALQ/J9;CAF?.;9D=.	./.
• )9K9DAFKH=;LAGF
*ML;GE=KJ=K=9J;@E=9KMJ=K(A?J9AF=,M9DALQG>'A>=,M=KLAGFF9AJ=(,G'9F<+J=>=J=F;=G>
(=<A;9LAGF+G(

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










 !"#%


78(<)6-+2%2(85%7-32
/@AKAK9<GM:D=	:DAF<J9F<GEAR=<EMDLA;=FL=JGMLH9LA=FL=N9DM9LAGFG>L@=K9>=LQ9F<=>>A;9;Q
G>R9N=?=H9FL9K;GEH9J=<LGE9L;@AF?HD9;=:GAFL@=9;ML=LJ=9LE=FLG>EG<=J9L=GJK=N=J=
EA?J9AF=
.M:B=;LKOADD:=<AKH=FK=<HL9J0.DAIMA<KHJ9Q<=NA;=;GFL9AFAF?9KAF?D=<GK=G>
R9N=?=H9FLGJ9E9L;@AF?HD9;=:G
/@=LGL9D<MJ9LAGFG>L@=KLM<QOADD:=9HHJGPAE9L=DQ
O==CK
/@AKAF;DM<=K9	<9Q.;J==FAF?+=JAG<9/J=9LE=FL+@9K=L@9L;9FD9KLMHLG<9QK
GJMFLADL@=KM:B=;L@9K9EA?J9AF=L@9LJ=9;@=KEG<=J9L=GJK=N=J=AFL=FKALQ>GDDGO=<:Q9F F<
G>/J=9LE=FL */1AKAL<9QK9>L=JL@=9<EAFAKLJ9LAGFG>KLM<Q<JM?



78(<',)1%7-'

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










	
',)(80)3*66)661)276
%&0)
',)(80)3*66)661)276
+)! .+!
+!!(%(#%,%-
,!&%(!
( )'%1-%)(
%,%-
0
) !+-!)+!/!+!
%#+%(!!")+!
-. 0+.#
 '%(%,-+-%)(
),--. 0+.#
 '%(%,-+-%)(
	
( '%(.-!,
	

( 
$).+,
( )"+!-'!(-
%,%-
&%#%%&%-0,,!,,'!(-,
7/8;6.-,87<.7=
)




>952,*=.<>+3.,=,1.,427
%$-*=*+*<.
)




7,5><287
A,5><287,;2=.;2*
)
)



.-2,*512<=8;B
)




20;*27.2<=8;B
<<.<<6.7=
<207<<B69=86<9;28;
=;.*=6.7=/;.:>.7,B
27=.7<2=B

)




87,862=*7=.-2,*=287
9*9.;-2*;B
)
)
)
)
)
#.<,>..-2,*=2879*9.;
-2*;B

)
)
)
)
#*7-862C.<>+3.,=27
(#$

)




'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









+)! .+!
+!!(%(#%,%-
,!&%(!
( )'%1-%)(
%,%-
0
) !+-!)+!/!+!
%#+%(!!")+!
-. 0+.#
 '%(%,-+-%)(
),--. 0+.#
 '%(%,-+-%)(
	
( '%(.-!,
	

( 
$).+,
( )"+!-'!(-
%,%-
"!-0,,!,,'!(-,
!1B<2,*5A*627*=287
)



)
*<*57<9.,=287	
)
)


)
'2=*5$207<!1B<2,*5
.*<>;.6.7=<

)
)


)
-?.;<.?.7=*7-$.;28><
-?.;<.?.7=
<<.<<6.7=
)
)
)
)

)
$1..1*7$>2,2-*52=B
%;*,4270$,*5.
$$%$
)
)


)

)



)
5272,*5$*/.=B*+8;*=8;B
%.<=270
)



)
2?.;>7,=287%.<=<
%<
)



)
292-!*7.5
)



)
$2/*9952,*+5.=8
-.=.;627.( !<=*=><
)




!;.07*7,B%.<=
)$.;>6
)&;27.
)&;27.

)$.;>6
&;27*5B<2<
)



)
&;27.-;>0<,;..7/8;
-;>0<8/*+><.
)



)

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









+)! .+!
+!!(%(#%,%-
,!&%(!
( )'%1-%)(
%,%-
0
) !+-!)+!/!+!
%#+%(!!")+!
-. 0+.#
 '%(%,-+-%)(
),--. 0+.#
 '%(%,-+-%)(
	
( '%(.-!,
	

( 
$).+,
( )"+!-'!(-
%,%-
&%(%&+.#.**&%!,-. 0.**&%!,
. 1*7-1.5--.?2,.
*<<207.-=8<>+3.,=

)



!*=2.7=.->,*=287<=>-B
6.-2,*=287*-6272<=;*=287
@2=127<=;>,=287/8;><.
-8,>6.7=

)



!*=2.7=.->,*=287. 
1*7-1.5--.?2,.<>+3.,=
87527.=;*27270=;*27270
-.?2,.

)



2<9.7<.<=>-B
6.-2,*=287

)



-6272<=.;<=>-B
6.-2,*=287


)


7=.;><.8/<=>-B
6.-2,*=28727. 
1*7-1.5--.?2,.


)


. 1*7-1.5--.?2,.
;.=>;7.-;.?2.@.-/8;
,8695.=.7.<<








)
#.=>;7>7><.-8;><.-
<=>-B6.-2,*=287=8<2=.
/8;;.,87,252*=287




)

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









+)! .+!
+!!(%(#%,%-
,!&%(!
( )'%1-%)(
%,%-
0
) !+-!)+!/!+!
%#+%(!!")+!
-. 0+.#
 '%(%,-+-%)(
),--. 0+.#
 '%(%,-+-%)(
	
( '%(.-!,
	

( 
$).+,
( )"+!-'!(-
%,%-
""%0( .-)'!,!,!+$,,!,,'!(-,
<<.<<6.7=<8/620;*27.
9*27620;*27.<B69=86<
91878918+2*
918=8918+2**7-7*><.*
*7-/>7,=287*5-2<*+252=B


)
)

"820;*27.">*52=B
8/2/.">.<=2877*2;.



)
18>;*<<.<<6.7=

!;./.;.7,.8/.-2,*=287
!8



)
18>;*<<.<<6.7=


	=/22(+*'?9#;(0+):9.5;2*(++4:+8+*/4:.+&"#',:+8:.+?9/-4:.+/4,583+*)549+4:,583:55(:'/4:.+/89:;*?9;(0+):/*+4:/,/)':/54)5*+
$.+
3'?542?5));8'229)8++4/4-685)+*;8+9'8+)5362+:+*'4*:.+9;(0+):3++:9'22/4)2;9/54+>)2;9/54)8/:+8/',:.+9;(0+):
*5+945:3++:'22+2/-/(/2/:?8+7;/8+3+4:9:.+9;(0+):9.5;2*(+9)8++4,'/2+*/4:.+&"##;(0+):93'?(+8+9)8++4+*=/:.'4+=9;(0+):
#;(0+):9=/22;9+:.+/8'99/-4+*+.'4*.+2**+</)+(+,58+9:;*?*8;-'*3/4/9:8':/54:5'49=+87;+9:/549'(5;::.+/83/-8'/4+9?36:539;654+>6+8/+4)/4-'
35*+8':+589+<+8+3/-8'/4+.+'*').+$.+9;(0+):=/22'*3/4/9:+8@'<+-+6'4:583':)./4-62')+(5/,:.+,5225=/4-)8/:+8/''8+3+:
:.+.+'*').+8+3'/4935*+8':+58
9+<+8+:.+9;(0+):.'9)5362+:+*'228+7;/8+*3/-8'/4+'99+993+4:7;+9:/549/4:.+.'4*.+2*/4)2;*/4-:.+/8);88+4:359:(5:.+8953+3/-8'/4+9?36:53'4*:.+
9;(0+):.'945:'28+'*?:'1+4685./(/:+*3+*/)':/549
#;(0+):99.5;2*1++6:8')15,:.+/8)54)53/:'4:3+*/)':/54954:.+"'6685<+*9:;*?6'6+8*/'8?685</*+*:.85;-.5;::.+9:;*?)54)53/:'4:3+*/)':/546'6+8
*/'8?=/22(+685</*+*:59;(0+):9'::.+#)8++4/4-</9/:$.+9+6'6+8*/'8/+99.5;2*(+8+:;84+*:5:.+/4<+9:/-':/54'29/:+':+').</9/:,588+</+='4*+2+):854/)*':'
)'6:;8++4:8?$.+6'6+8*/'8/+99.5;2*(+1+6:'995;8)+*5);3+4:9
#;(0+):99.5;2*1++6:8')15,:.+/88+9);+3+*/)':/54954:.+"'6685<+*9:;*?6'6+8*/'8?685</*+*:.85;-.5;::.+9:;*?8+9);+3+*/)':/546'6+8*/'8?=/22(+
685</*+*:59;(0+):9'::.+'9+2/4+</9/:"+,+8+4)+:.+8+9);+3+*/)':/549+):/54,58'**/:/54'2/4,583':/54$.+9+6'6+8*/'8/+99.5;2*(+8+:;84+*:5:.+
/4<+9:/-':/54'29/:+,588+</+='4*+2+):854/)*':')'6:;8++4:8?$.+6'6+8*/'8/+99.5;2*(+1+6:'995;8)+*5);3+4:9
$.+8'4*53/@':/54</9/:/9)549/*+8+**'?
5;:5,:.+*'?99;(0+):9.'<+:5:8+':'4*8+658:'3/-8'/4+/4:.+/8.'4*.+2**+</)+#;(0+):9=/22(+8'4*53/@+*/4:.+
&"#'4*=/22(+9:8':/,/+*(?'49=+8/4-B?+9C58B45C:56856.?2'):/)3/-8'/4+3+*/)':/54;9+/4:.+&"#

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









	'9'2/496+):/54A$.+4'9'26'99'-+9'4*:;8(/4':+9=/22(+</9;'22?/496+):+*=/:.'4'9'296+);2;3585:59)56+'::.+#)8++4/4-'9+2/4+'4*+4*5,$%/9/:9:5
*+:+):+</*+4)+5,4'9'2/4,2'33':/5458+*+3'

+/-.:=/22542?(+)'6:;8+*'::.+#)8++4/4-%/9/:&+/-.:(5*?:+36+8':;8+8+96/8':58?8':+(255*68+99;8+'4*.+'8:8':+=/22(+)522+):+*':'22:/3+65/4:9=.+8+
/4*/)':+*#/::/4-'8:+8/'29?9:52/)'4**/'9:52/)(255*68+99;8+'4*6;29+8':+=/22(+3+'9;8+*
#9'8+8+658:+*,853:.+:/3+5,9/-4+*/4,583+*)549+4:'4*4549+8/5;99'8+8+658:+*,853:.+'9+2/4+%/9/:2254-5/4-4549+8/5;99'4*#9=/22(+
,5225=+*:58+952;:/5458;4:/2:.+4<+9:/-':58*++39:.+8+=/22(+45,;8:.+89:':;9).'4-+#9:.':5));8*;8/4-:.+:8+':3+4:6+8/5*9.5;2*(+8+658:+*:59/:+/48+'2
:/3+549+8/5;99:.':5));8*;8/4-:.+:8+':3+4:6+8/5*9.5;2*(+8+658:+*:5:.+9/:+'::.+$%/9/:
$.+##$#=/22(+)2/4/)/'4'*3/4/9:+8+*549/:+=/:.'6'6+8,583$.+95;8)+*5);3+4:=/22(+685</*+**/-/:'22?(?/5.'<+4$.+'99+993+4:6+8/5*,58)5362+:/4-
:.+9)'2+=/22(+	*'?968/58:5:.+#)8++4/4-%/9/:'4*9/4)+:.+2'9:</9/:,58:.+'9+2/4+"'4*53/@':/54'4*$%/9/:9
58& 9+8;368+-4'4)?:+9:=/22(+)522+):+*'::.+#)8++4/4-'4*$%/9/:9'96'8:5,:.+9:'4*'8*2'(58':58?:+9:954,/83':58?;8/4+68+-4'4)?:+9:,58
& =/22(+)5362+:+*549/:+'::.+'9+2/4+%/9/:'4*'4?9;(9+7;+4:</9/:9,58)54,/83':/54'::.+4<+9:/-':58D9*/9)8+:/5453+68+-4'4)?:+9:=/22(+685</*+*
:5& ',:+8)5362+:/545,'9+2/4+%/9/:& 9;(0+):93;9:)5362+:+:.+;8/4+68+-4'4)?:+9:':.53+:5:'1/4-9:;*?*8;-
#;(0+):99.5;2*(+/49:8;):+*:.'::.+*59+9.5;2*(+'*3/4/9:+8+*54)+:.+3/-8'/4+'::')18+').+935*+8':+589+<+8+6'/4'4*',:+8:.+9;(0+):.'9)5362+:+*'22
8+7;/8+*3/-8'/4+'99+993+4:9/4:.+.'4*.+2*$.+.'4*.+2*=/2268536::.+9;(0+):=.+4:.+?9.5;2*'*3/4/9:+89:;*?*8;-
#/:+9:',,:58+</+='4*)54,/83'22*':'65/4:9'8+:8'49,+88+*,853:.+.'4*.+2*'4*8+9+:.'4*.+2*,58,;:;8+9;(0+):;9+ "":5:.+9;(0+):2+'</4-:.+)2/4/)
$.+;4):/54'2/9'(/2/:?!5'4* 8+,+8+4)+5,+*/)':/549)'2+9=/22(+)'6:;8+*/4:.+.'4*.+2**+</)+#;(0+):9=/22'295(+'91+*'(5;::.+/8359:(5:.+8953+
9?36:53'::.+:/3+5,8+658:/4-'4*:8+':/4-'7;'2/,?/4-3/-8'/4+(+,58+9:;*?*8;-'*3/4/9:8':/54
#;(0+):9=/228+:;84:5:.+9/:+,58:.+/8$%/9/:',:+8'99+993+4:9/4:.+.'4*.+2*'8+)5362+:+*=/:./4*'?9',:+8*59/4-=/:.9:;*?*8;-$.+BC*'?
=/4*5=/9/4)2;*+*,589).+*;2/4-6;8659+9542?
<+8?+,,58:9.5;2*(+3'*+:5)54*;)::.+$%/9/:=/:./4:.+96+)/,/+*=/4*5=5,*'?9',:+8*59/4-=/:.9:;*?*8;-5=+<+8/,4+)+99'8?*;+:525)'2
%
9',+:?8+7;/8+3+4:9:.+$%/9/:3'?(+6+8,583+*5;:9/*+5,:.+=/4*5=(?'4'**/:/54'2*'?9/458*+8:53/4/3/@+'4?65:+4:/'28/919:59;(0+):9',+:?
'4*:5)5362?=/:.-5<+843+4:'2'4*/49:/:;:/54'2-;/*'4)+#++#+):/54,58358+/4,583':/54


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/











!(6**3.3,-&7*
	)&=7
HHJGPAE9L=DQKM:B=;LKOADD:=K;J==F=<LGJ9F<GEAR=9HHJGPAE9L=DQKM:B=;LKLG
KLM<QE=<A;9LAGFR9N=?=H9FLGJE9L;@AF?HD9;=:G

=>GJ=9FQKLM<QHJG;=<MJ=K9J=H=J>GJE=<KM:B=;LKEMKLKA?FAF>GJE=<;GFK=FL
>L=JAF>GJE=<
;GFK=FLAKKA?F=<KM:B=;LKOADD:==FJGDD=<AFL@=$2-.KQKL=E
/@=KM:B=;LZKEA?J9AF=@AKLGJQ
9F<E=<A;9D@AKLGJQOADD:=;GDD=;L=<9LL@=.;J==FAF?1AKAL
.M:B=;LKOADD9DKGMF<=J?G9DD
K;J==FAF?HJG;=<MJ=K9K<=L9AD=<AF/9:D=
2AL@AF	<9QK>JGEL@=.;J==FAF?1AKALKKM:B=;LK
OADDJ=LMJFLGL@=KAL=>GJL@=9K=DAF=-9F<GEAR9LAGF1AKALA>L@=KM:B=;L<G=KFGLE==L9DD
=DA?A:ADALQ;JAL=JA9L@=KM:B=;LOADD:=;GFKA<=J=<9.;J==F!9ADMJ=

.;J==FAF?NAKALEMKL:=;GEHD=L=<AFH=JKGF


	
 &3)42.>&8.43-&7*"6*&82*38-&7*)&=7
.M:B=;LKOADDJ=LMJFLGL@=KLM<QKAL=>GJL@=9K=DAF=-9F<GEAR9LAGF1AKAL

.M:B=;LKO@GE==L9DD=DA?A:ADALQ;JAL=JA9L@=QE9Q:=J9F<GEAR=<9LL@=9K=DAF=1AKAL

-9F<GEAR9LAGFOADDG;;MJAFL@=$2-.
/@=KM:B=;LKOADD:=HJGNA<=<OAL@9F=*#9F<@=D<
<=NA;=
/@=KLM<QH=JKGFF=DOADDAFKLJM;LL@=KM:B=;LGFL@=HJGH=JMK=G>L@=@9F<@=D<LG=FKMJ=
HJGH=JMF<=JKL9F<AF?9F<MK=G>L@=LGGDHJAGJLGL@=KM:B=;LD=9NAF?L@=G>>A;=

>L=JJ9F<GEAR9LAGFAK;GEHD=L=<AFL@=$2-.KLM<Q<JM?OADD:=<AKH=FK=<LGKM:B=;LKLGL9C=
@GE=>GJMHLG<9QK
/@=KLM<QH=JKGFF=DEMKLLJ9AFL@=KM:B=;LGFL@=HJGH=JMK=G>HL9J
0.<=NA;=MKAF?AFKLJM;LAGFKLG:=HJGNA<=<LG=9;@KLM<QKM:B=;L
/@AKKLM<Q<JM?AKLG:=
L9C=FO@=F9EA?J9AF=9LL9;CJ=9;@=KEG<=J9L=GJK=N=J=AFL=FKALQGFL@=FME=JA;J9LAF?K;9D=
)-.9KAF<A;9L=<AFL@=@9F<@=D<
/@=KM:B=;LOADD:=AFKLJM;L=<LGL9C=L@=AJKLM<Q<JM?9K9F
GMLH9LA=FLO@=FA>L@=Q@9N=9EA?J9AF=@=9<9;@=O@A;@J=9;@=KEG<=J9L=GJK=N=J=AFL=FKALQ
,1?0=?30D3,A0,9>B0=0/<@0>?4:9>,-:@??304=.@==09?;,4949?09>4?D,9/>D8;?:8>,9/
4/09?4140/?304=.@==09?7D8:>?-:?30=>:80842=,490,>>:.4,?0/>D8;?:8;3:9:;3:-4,
;3:?:;3:-4,:=9,@>0,49?303,9/307/
/@=KM:B=;LOADD;GEHD=L=9KK=KKE=FLK>GJ>GJLQ	=A?@L
@GMJK9>L=JL9CAF?KLM<Q<JM?LGJ=;GJ<=>>A;9;Q9F<GL@=JIM9DALQG>DA>=E=9KMJ=K

-9F<GEAR9LAGF9K=DAF=NAKALEMKL:=;GEHD=L=<AFH=JKGF

$@-50.?>49?34>>?@/D8,D-0=,9/:84E0/:97D:9.0&9/0=9:.4=.@8>?,9.0>8,D,
>@-50.?-0=0=,9/:84E0/

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/










	
*&3)-*1)*:.(*&8&411*(8.43
/@==*@9F<@=D<<=NA;=E9Q9DKG:=J=>=JJ=<LG9K9@9F<@=D<GJ9F=A9JQ
*F;=9KM:B=;L
=PH=JA=F;=K9EA?J9AF=@=9<9;@=G>EG<=J9L=LGK=N=J=AFL=FKALQL@=QK@GMD<J=;GJ<L@AKAFL@=
@9F<@=D<
/@=@9F<@=D<OADDAFKLJM;LL@=KM:B=;LLGL9C=KLM<Q<JM?9>L=JL@=AFALA9D9KK=KKE=FLK
9J=;GEHD=L=<AFL@=<=NA;=

/@=>GDDGOAF?OADD:=J=;GJ<=<AFL@==*@9F<@=D<<=NA;=
• #=9<9;@=H9AFAFL=FKALQMKAF?9	HGAFLFME=JA;J9LAF?K;9D=FGF=EAD<EG<=J9L=K=N=J=
:=>GJ=L9CAF?KLM<Q<JM?9F<9>L=JL9CAF?KLM<Q<JM?9LLAE=HGAFLKG>9F<
EAFML=K9F<9F<@GMJKHGKL<GK=

• /@=HJ=K=F;=GJ9:K=F;=G>9KKG;A9L=<KQEHLGEKF9MK=9H@GLGH@G:A9H@GFGH@G:A99F<
>MF;LAGF9D<AK9:ADALQD=N=D	HGAFLFME=JA;J9LAF?K;9D=FGJE9DEAD<DQAEH9AJ=<K=N=J=DQ
AEH9AJ=<J=IMAJ=K:=<J=KLJ=;GJ<=<9LL@=K9E=LAE=HGAFLK9K@=9<9;@=H9AFAFL=FKALQ

• MJJ=FL(.:=>GJ=L9CAF?KLM<Q<JM?

• (A?J9AF=,M9DALQG>'A>=,M=KLAGFF9AJ=(,G'9F<+J=>=J=F;=G>(=<A;9LAGF+G(
@GMJK9>L=JL9CAF?KLM<Q<JM?

.M:B=;LKK@GMD<:==F;GMJ9?=<LGLJ=9LL@=AJ>AJKLIM9DA>QAF?EG<=J9L=GJK=N=J=EA?J9AF=L@9L
G;;MJK<MJAF?L@=LJ=9LE=FLH@9K=
$>KM:B=;LK9J=MF9:D=LGLJ=9LL@=AJ>AJKLIM9DA>QAF?EA?J9AF=
J=>=JLG.=;LAGF

-=K;M=(=<A;9LAGFK>GJ9DAKLG>E=<A;9LAGFKL@9L9J=9DDGO=<<MJAF?L@=
;GMJK=G>L@AKKLM<Q




<8*37.43-&7*.+&551.(&'1*
)GL9HHDA;9:D=



%&7-498-&7*.+&551.(&'1*
)GL9HHDA;9:D=



3)4+"6*&82*38
.M:B=;LKOADDJ=LMJFLGL@=KAL=>GJL@=AJ */1AKAL9>L=J9KK=KKE=FLKAFL@=@9F<@=D<9J=
;GEHD=L=<OAL@AF<9QK9>L=J<GKAF?OAL@KLM<Q<JM?
/@=XY<9QOAF<GOAKAF;DM<=<
>GJK;@=<MDAF?HMJHGK=KGFDQ

LL@= */1AKALE=<A;9LAGF;GEHDA9F;=EGFALGJAF?G>LGD=J9:ADALQ9F<K9>=LQ9KK=KKE=FLK
AF;DM<AF?NAL9DKA?FKD9:GJ9LGJQL=KLKF9K9DAFKH=;LAGF9F<=D=;LJG;9J<AG?J9H@QOADD:=
H=J>GJE=<
-=>=JLG/9:D=>GJ9>MDDDAKLG>9KK=KKE=FLK;GEHD=L=<9LL@= */1AKAL


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









$>9KM:B=;L@9K)*/=PH=JA=F;=<9EA?J9AF=@=9<9;@=G>EG<=J9L=GJK=N=J=AFL=FKALQOAL@AF
<9QK9>L=JJ9F<GEAR9LAGFL@=Q9J=KLADDJ=IMAJ=<LG;GEHD=L=9DD */1AKALHJG;=<MJ=K
DD
KM:B=;LKEMKLJ=LMJFMK=<9F<MFMK=<KLM<Q<JM?9F<L@=AJ@9F<@=D<<=NA;=LGL@=AFN=KLA?9LAGF9D
KAL=

=JL9AFHJGNAKAGFKE9Q:=AEHD=E=FL=<AFGJ<=JLGEAFAEAR=HGL=FLA9D@9R9J<KLGKLM<Q
H9JLA;AH9FLK<M=LG*1$	
/@=K=HJGNAKAGFKE9Q9DDGO9DL=JF9LAN=KLGAF	H=JKGFKLM<QNAKALK
9F<AF;DM<=:ML9J=FGLDAEAL=<LGL@=>GDDGOAF?;GF<M;LAF?J=EGL=KLM<QNAKALKNA9
H@GF=L=D=E=<A;AF=NA<=G>G;MKAF?GFK9>=LQ9KK=KKE=FLK<MJAF?J=EGL=NAKALKH=J>GJEAF?
K9>=LQD9:KNA9DG;9DD9:KGJHJG>=KKAGF9DAF	@GE=H@D=:GLGEQN=F<GJK9F<K@AHHAF?G>KLM<Q
E=<A;9LAGF<AJ=;LDQLGKLM<QKM:B=;LKA>F==<=<
FQHGL=FLA9DAKKM=KK@GMD<:=<AK;MKK=<OAL@
.HGFKGJ-*9F<OADD:=9<<J=KK=<GF9FAF<ANA<M9DAR=<:9KAK
/@=K;J==FAF?9F<
J9F<GEAR9LAGF:9K=DAF=NAKALKEMKL:=<GF=AFH=JKGF
GEHGF=FLKG>L@= */1AKALE9Q:=
;GF<M;L=<MF<=JL@=HJGNAKAGFKE=FLAGF=<9:GN=J=EGL=NA9H@GF=L=D=E=<A;AF=DG;9DD9:K
=L;
9F<L@=OAF<GONAKALE9Q:==PL=F<=<:Q<9QKA>;AJ;MEKL9F;=KO9JJ=FL




36778(<'')6673,)5%4<-*%440-'%&0)
LL@=;GF;DMKAGFG>L@=KLM<QL@=KHGFKGJOADDFGL;GFLAFM=LGKMHHDQKLM<Q<JM?LGKM:B=;LK
AFN=KLA?9LGJK
/@=AFN=KLA?9LGJK@GMD<=FKMJ=L@9LL@=KM:B=;LJ=;=AN=KL@=9HHJGHJA9L=KL9F<9J<G>
;9J=LGLJ=9LL@=;GF<ALAGFMF<=JKLM<Q
.M:B=;LKE9Q:==DA?A:D=LGH9JLA;AH9L=AF9R9N=?=H9FL
DGF?	L=JEK9>=LQKLM<QJ=IMAJAF?9HHJGN9D:QJ=KHGFKA:D=@=9DL@9ML@GJALA=K9F<=L@A;K
;GEEALL==K
/@=J=;9F:=FG?M9J9FL==GJ9KKMJ9F;=L@9L9KM:B=;L;9FH9JLA;AH9L=AFL@=
R9N=?=H9FLDGF?	L=JEK9>=LQKLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 #"
$F<ANA<M9DK=FL=J=<AFL@AKLJA9DOADD:=KM:B=;LKO@GKM>>=J>JGEEA?J9AF=K
/@=LJ=9LE=FLK=LLAF?
>GJL@=K=KM:B=;LKE9QAF;DM<=;DAFA;KAFKLALMLAGFKGJHJAN9L=G>>A;=HJ9;LA;=K
.M:B=;LKE9Q:=
J=;JMAL=<L@JGM?@9N9JA=LQG>KGMJ;=KAF;DM<AF?J=>=JJ9DK>JGEH@QKA;A9FK9F<GL@=J@=9DL@;9J=
HJG>=KKAGF9DK


81&)53*8&.)'76
$LAK9FLA;AH9L=<L@9L9HHJGPAE9L=DQKM:B=;LKOADDF==<LG:=K;J==F=<AFGJ<=JLGJ9F<GEAR=
9HHJGPAE9L=DQKM:B=;LK
/@=KM:B=;LKOADD:=J9F<GEAR=<AF9J9LAGLGL@=R9N=?=H9FLGJ
E9L;@AF?HD9;=:GLJ=9LE=FL?JGMHK
$LAK9FLA;AH9L=<L@9L=FJGDDE=FLOADDG;;MJ9L9HHJGPAE9L=DQ
KAL=KAFL@=0FAL=<.L9L=KGN=J9H=JAG<G>9HHJGPAE9L=DQEGFL@K<MJAF?L@AKLJA9D


2'086-325-7)5-%
 .A?F=<OJALL=FAF>GJE=<;GFK=FL
2JALL=FAF>GJE=<;GFK=FLEMKL:=G:L9AF=<>JGEL@=
KM:B=;LAF9;;GJ<9F;=OAL@J=IMAJ=E=FLKG>L@=KLM<Q;=FL=JZKAFKLALMLAGF9DJ=NA=O:G9J<
$-GJ=L@A;K;GEEALL==HJAGJLGL@=AFALA9LAGFG>9FQHJGLG;GD	J=IMAJ=<HJG;=<MJ=K

 .M:B=;LKEMKL9?J==LGHJGNA<=9DDJ=IM=KL=<<=EG?J9H@A;AF>GJE9LAGFA
=
?=F<=JJ9;=

 .M:B=;LKEMKL:=9:D=LGJ=9<9F<MF<=JKL9F< F?DAK@GJ.H9FAK@

 /9J?=L+GHMD9LAGF.M:B=;LKOAL@EAFAEMEQ=9J@AKLGJQG>EA?J9AF=KOAL@GJOAL@GML9MJ9
;GFKAKL=FLOAL@9<A9?FGKAK9;;GJ<AF?LGL@=$FL=JF9LAGF9DD9KKA>A;9LAGFG>#=9<9;@=
AKGJ<=JK <ALAGFAF;DM<AF?L@=>GDDGOAF?
9 (A?J9AF=9LL9;CKHJ=K=FL>GJEGJ=L@9FQ=9JOAL@L@=9?=G>GFK=LHJAGJLGQ=9JKG>
9?=

: (A?J9AF=9LL9;CKGF9N=J9?=D9KLAF?9:GML	@GMJKA>MFLJ=9L=<

; )GLEGJ=L@9F9LL9;CKG>EG<=J9L=GJK=N=J=AFL=FKALQH=JEGFL@OAL@AFD9KLEGFL@K

< .M:B=;LKEMKL:=9:D=LG<AKLAF?MAK@EA?J9AF=9LL9;CK>JGEL=FKAGF;DMKL=J@=9<9;@=K

= LD=9KL;GFKAKL=FLEA?J9AF=@=9<9;@=9LL9;CKG>EG<=J9L=GJK=N=J=AFL=FKALQAF=9;@G>
L@=EGFL@KHJAGJLGL@=.;J==FAF?1AKAL9F<L@JGM?@GMLL@=.;J==FAF?+=JAG<KM:B=;L
K=D>	J=HGJL

> '=KKL@9F<9QKOAL@@=9<9;@=KEA?J9AF=GJFGF	EA?J9AF=H=JEGFL@AF=9;@G>L@=
EGFL@KHJAGJLGL@=.;J==FAF?1AKAL9F<L@JGM?@GMLL@=.;J==FAF?+=JAG<KM:B=;LK=D>	
J=HGJL


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









? .M:B=;LKGFHJGH@QD9;LA;EA?J9AF=E=<A;9LAGF9J=H=JEALL=<LGJ=E9AFGFL@=J9HQA>L@=Q
@9N=:==FGF9KL9:D=<GK=>GJ9LD=9KLEGFL@KHJAGJLGK;J==FAF?NAKAL9F<A>L@=<GK=AK
FGL=PH=;L=<LG;@9F?=<MJAF?L@=;GMJK=G>L@=KLM<Q

@ .M:B=;LKOAL@;GFLJ9AF<A;9LAGFK>GJMK=G>LJAHL9FKE9Q:=AF;DM<=<HJGNA<=<L@=QE==L9DD
GL@=JKLM<Q=FLJQ;JAL=JA9

 ?=9F<-=HJG<M;LAN=.L9LMK
9 (9D=9F<!=E9D=KM:B=;LKUQ=9JKG>9?=

: DDKM:B=;LKEMKLMF<=JKL9F<L@=;GFLJ9;=HLAGFJ=IMAJ=E=FLK>GJL@AKKLM<Q9F<9?J==LG
MK=9;;=HL9:D=E=L@G<KG>;GFLJ9;=HLAGFLG9NGA<HJ=?F9F;QL@JGM?@GMLL@=KLM<QAF
KM;@9E9FF=JL@9LL@=JAKCG>HJ=?F9F;QAKEAFAEAR=<
.==.=;LAGF
>GJL@=<=>AFALAGF
G>2*+

; 2GE=FEMKLFGL:=HJ=?F9FLD9;L9LAF?GJ:J=9KL>==<AF?

< LL@=9K=DAF=1AKALHJAGJLG<AKH=FKAF?AFN=KLA?9LAGF9DKLM<Q<JM?2*+EMKL@9N=9
F=?9LAN=MJAF=HJ=?F9F;QL=KL

 *L@=J$F;DMKAGFJAL=JA9
9 )G;DAFA;9DDQKA?FA>A;9FL9:FGJE9DALQA<=FLA>A=<GFL@=E=<A;9DGJD9:GJ9LGJQ=N9DM9LAGF

KM:B=;LOAL@9;DAFA;9D9:FGJE9DALQGJD9:GJ9LGJQH9J9E=L=JGMLKA<=L@=J=>=J=F;=J9F?=
FGLAF;DM<AF?=P;DMKAGF;JAL=JA9DAKL=<AF.=;LAGF
:=DGOE9Q:=;GFKA<=J=<>GJ
AF;DMKAGFA>AFL@=GHAFAGFG>L@=$FN=KLA?9LGJL@=>AF<AF?AKFGL;DAFA;9DDQKA?FA>A;9FLOADD
FGLAFLJG<M;=9<<ALAGF9DJAKC>9;LGJKGJAFL=J>=J=OAL@L@=KLM<QHJG;=<MJ=K

: .M:B=;LKO@GO=J=K;J==F>9ADMJ=K>JGEL@AKKLM<Q#1	HJ=NAGMKDQE9Q:=
;GFKA<=J=<>GJJ=	K;J==FAF?MF<=JHJGLG;GDN=JKAGFHJGNA<=<L@=AF=DA?A:ADALQO9K<M=LG
GF=G>L@==DA?A:ADALQAL=EKEG<A>A=<AFL@AKHJGLG;GDN=JKAGFGJO@G9J=J=9KGF9:DQ
=PH=;L=<LG:==DA?A:D=
.M:B=;LK:=AF?;GFKA<=J=<>GJJ=	K;J==FAF?GL@=JL@9FL@=J=9KGF
DAKL=<9:GN==
?
HJ=NAGMKDQHJ=?F9FLK;J==FAF?OAF<GOLGGDGF?K@GMD<:=<AK;MKK=<
OAL@L@=.HGFKGJHJAGJLGJ=	K;J==F

	
;'086-325-7)5-%
 AK=9K=/9J?=L P;DMKAGF
9 .M:B=;LKOAL@9@AKLGJQG>:9KAD9JEA?J9AF=GJ@=EAHD=?A;EA?J9AF=

 (=<A;9D#AKLGJQ9F<GF;MJJ=FLAK=9K=K
9 .M:B=;LKOAL@9@AKLGJQG>#$1<AK=9K=

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









: .M:B=;L@AKLGJQOAL@;MJJ=FL=NA<=F;=G>MF;GFLJGDD=<MFKL9:D=GJJ=;=FLDQ<A9?FGK=<
;9J<AGN9K;MD9J<AK=9K=KM;@9KAK;@=EA;@=9JL<AK=9K=;GJGF9JQ9JL=JQN9KGKH9KE9F<
;=J=:J9DAK;@=EA9
KM:B=;LKOAL@(QG;9J<A9D$F>9J;LAGF($;ML=GJGF9JQ.QF<JGE=
.+=J;ML9F=GMKGJGF9JQ$FL=JN=FLAGF+$;9J<A9;KMJ?=JQKLJGC=GJLJ9FKA=FL
AK;@=EA;9LL9;C/$<MJAF?L@=EGFL@KHJAGJLGK;J==FAF?

; 0F;GFLJGDD=<@QH=JL=FKAGF@A?@:DGG<HJ=KKMJ=GJMF;GFLJGDD=<<A9:=L=K@GO=N=J
KM:B=;LK;9F:=AF;DM<=<O@G@9N=KL9:D=@QH=JL=FKAGF9F<GJKL9:D=<A9:=L=K>GJ9LD=9KL
EGFL@KHJAGJLG:=AF?=FJGDD=<
KAF?D=:DGG<HJ=KKMJ=E=9KMJ=E=FLG>?J=9L=JL@9F
EE#?KQKLGDA;GJEE#?<A9KLGDA;9>L=JEAFML=KG>J=KLAK=P;DMKAGF9JQ

< .M:B=;LKOAL@E9BGJ<=HJ=KKAN==HAKG<=OAL@AFL@=D9KLEGFL@KE9BGJ<=HJ=KKAN=
<AKGJ<=JGJ9FQ9FPA=LQ<AKGJ<=JJ=IMAJAF?EGJ=L@9FE=<A;9LAGF>GJ=9;@<AKGJ<=J

(=<A;9LAGFKLGLJ=9LE9BGJ<=HJ=KKAN=<AKGJ<=JGJ9F9FPA=LQ<AKGJ<=JEMKL@9N=:==F9L9
KL9:D=<GK=>GJ9LD=9KLEGFL@KHJAGJLGL@=.;J==FAF?NAKAL

= @JGFA;H9AFKQF<JGE=KKM;@9K>A:JGEQ9D?A9;@JGFA;H=DNA;H9AF;GEHD=PJ=?AGF9D
H9AFKQF<JGE=-+.

> .M:B=;LKOAL@GL@=JH9AFKQF<JGE=KAF;DM<AF?LJA?=EAF9DF=MJ9D?A9HKQ;@A9LJA;
;GF<ALAGFK<=E=FLA9GJKA?FA>A;9FLF=MJGDG?A;9D<AKGJ<=JKGL@=JL@9FEA?J9AF=L@9LAF
L@=$FN=KLA?9LGJZKGHAFAGFAFL=J>=J=OAL@KLM<Q9KK=KKE=FLK

? .M:B=;L@9K;MJJ=FL<A9?FGKAKG>E9BGJ<=HJ=KKAN=<AKGJ<=JJ=IMAJAF?LJ=9LE=FLOAL@
9LQHA;9D9FLAHKQ;@GLA;KK;@ARGH@J=FA9:AHGD9J<AKGJ<=JGJ:GJ<=JDAF=H=JKGF9DALQ
<AKGJ<=J

@ /@=KM:B=;L@9K9@AKLGJQG>GJ;MJJ=FL=NA<=F;=G>9FQKA?FA>A;9FL9F<GJMFKL9:D=
E=<A;9D;GF<ALAGFK=
?
@AKLGJQG>;GF?=FAL9D@=9JL<AK=9K=GJ9JJ@QL@EA9CFGOF
KMKH=;L=<AF>=;LAGF@=H9LALAKGJGJ;9F;=JL@9LAFL@=$FN=KLA?9LGJZKGHAFAGFOGMD<
=PHGK=L@=ELGMF<M=JAKCG>9KA?FA>A;9FL9<N=JK==N=FL. GJAFL=J>=J=OAL@
9KK=KKE=FLKG>K9>=LQGJ=>>A;9;Q<MJAF?L@=;GMJK=G>L@=LJA9D

A ;ML=GJ;@JGFA;LJ=9LE=FLOAL@*/GJHJ=K;JAHLAGFF9K9DKHJ9QK
.M:B=;LKEMKLKLGH9DD
*/HJ=K;JAHLAGFF9K9DKHJ9QK<9QKHJAGJLGL@=K;J==FAF?NAKAL9F<J=>J9AF>JGEMK=
MFLADKLM<Q;GEHD=LAGF

B #AKLGJQG>F9K9DKMJ?=JQAFL@=EGFL@KHJ=;=<AF?L@=K;J==FAF?NAKAL

C  NA<=F;=9LK;J==FAF?G>KA?FA>A;9FLF9K9D;GF<ALAGFKL@9LE9Q9>>=;LL@=9<EAFAKLJ9LAGFGJ
9:KGJHLAGFG>L@=F9K9DHJG<M;L=
?
K=N=J=K=HLME<=NA9LAGFF9K9D<=>GJEALQGJ
:DG;C9?=AF>D9EE9LAGFH=J>GJ9LAGFEM;GK9D=JGKAGFGJMD;=J9LAGFHGDQHGKAKF9K9D
LJ9ME99K=N9DM9L=<:QL@=$FN=KLA?9LGJGJE=<A;9DDQIM9DA>A=<<=D=?9L=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









D +J=K=F;=G>HA=J;AF?KAFL@=FGK=L@9LAFL@=GHAFAGFG>L@=$FN=KLA?9LGJOGMD<:=DAC=DQ
LGAFL=J>=J=OAL@HGKALAGFAF?G>L@=HL9J0.<=NA;=9F<KM;;=KK>MD;GEHD=LAGFG>L@=
<GKAF?HJG;=<MJ=

E#AKLGJQG>LJ=9LE=FL>GJGJ=NA<=F;=G>9D;G@GDGJ<JM?9:MK=OAL@AFL@=H9KLEGFL@K
GJKM:B=;LKO@G@9N=E=L.(	1;JAL=JA9>GJ9FQKA?FA>A;9FLKM:KL9F;=MK=<AKGJ<=J
OAL@AFL@=H9KLEGFL@K>JGEL@=<9L=G>L@=K;J==FAF?NAKAL

F .M:B=;LKK@GMD<:==P;DM<=<A>L@=Q@9N=9HGKALAN=<JM?K;J==F>GJ<JM?KG>9:MK=L@9LAF
L@=$FN=KLA?9LGJZKBM<?E=FLAKE=<A;9DDQKA?FA>A;9FLAFL@9LALOGMD<AEH9;LL@=K9>=LQG>
L@=KM:B=;LGJL@=AFL=JHJ=L9LAGFG>L@=KLM<QJ=KMDLK
$F9<<ALAGF
A =L=;L9:D=D=N=DKG>;G;9AF=9EH@=L9EAF=9F<H@=F;Q;DA<AF=++AFL@=<JM?
K;J==F9J==P;DMKAGF9JQ
.M:B=;LKO@G9J=HGKALAN=>GJ9EH@=L9EAF=K9F<O@G9J=GF
9HJ=K;JA:=<9EH@=L9EAF=E=<A;9LAGF>GJ9F9HHJGN=<AF<A;9LAGF=
?
#OADD
:=9DDGO=<AFLGL@=KLM<Q9LL@=$FN=KLA?9LGJZK<AK;J=LAGF
/@AK<=L=JEAF9LAGF:QL@=
$FN=KLA?9LGJEMKL:=O=DD<G;ME=FL=<AFL@=KM:B=;LZKKGMJ;=E=<A;9DJ=;GJ<K
/@=
KLAEMD9FL<GK=EMKL:=KL9:D=>JGEEGFL@KHJAGJLGL@=9K=DAF=1AKALMFLADL@= */
1AKALG;;MJK

AA =L=;L9:D=D=N=DKG>E9JABM9F9AFL@=<JM?K;J==F9J=FGL=P;DMKAGF9JQA>AFL@=
$FN=KLA?9LGJZK<G;ME=FL=<GHAFAGFL@=KM:B=;L<G=KFGLE==L.(	1;JAL=JA9>GJ
KM:KL9F;=MK=<AKGJ<=J9F<L@=HGKALAN=L=KL<G=KFGLKA?F9D9;DAFA;9D;GF<ALAGFL@9L
OGMD<AEH9;LL@=K9>=LQG>L@=KM:B=;LGJAFL=JHJ=L9LAGFG>L@=KLM<QJ=KMDLK

G #=E9LGDG?A;GJKGDA<E9DA?F9F;Q<A9?FGKAKOAL@AFQ=9JKHJAGJLGL@=K;J==FAF?NAKAL

.M:B=;LKOAL@9@AKLGJQG>DG;9DAR=<:9K9D;=DDGJKIM9EGMK;=DDKCAF;9F;=J9J==DA?A:D=
>GJL@=KLM<QA>L@=Q9J=;9F;=J	>J==HJAGJLGL@=K;J==FAF?NAKALAFL@AKKLM<Q

H G<QE9KKAF<=PC?E
I +9LA=FL@9K9@AKLGJQGJ<A9?FGKAKG>"AD:=JLZK.QF<JGE=GJ9FQGL@=J9;LAN=@=H9LA;GJ
:ADA9JQ<AKGJ<=J

 DD=J?A=K9F<<N=JK=JM?-=9;LAGFK
9 #AKLGJQG><JM?GJGL@=J9DD=J?QO@A;@AFL@=GHAFAGFG>L@=$FN=KLA?9LGJE9C=KL@=
KM:B=;LMFKMAL9:D=>GJH9JLA;AH9LAGFAFL@=KLM<Q

 .=P9F<-=HJG<M;LAN=.L9LMK
9 !=E9D=KG>;@AD<	:=9JAF?HGL=FLA9DO@G9J=MFOADDAF?GJMF9:D=LGMK=9F9;;=HL9:D=
;GFLJ9;=HLAN=E=L@G<GJ9:KLAF=F;=LG9NGA<HJ=?F9F;Q>GJL@==FLAJ=KLM<QH=JAG<9F<>GJ
<9QK9>L=JL@=KLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









: 2GE=FO@G9J=HJ=?F9FLD9;L9LAF?GJ:J=9KL>==<AF?

; 2GE=FOAL@9HGKALAN=HJ=?F9F;QL=KL

  "9F<'9:GJ9LGJQ/=KL!AF<AF?K
9  KLAE9L=<?DGE=JMD9J>ADLJ9LAGFJ9L=="!-9;;GJ<AF?LGL@=J=	=PHJ=KK=<9::J=NA9L=<	
N9JA9:D=(G<A>A;9LAGFG>A=LAF-=F9DAK=9K=(-.LM<Q=IM9LAGFT
EDEAF
E

: GJJ=;L=<,/AFL=JN9DEK=;,/;:QE=L@G<G>!J=<=JA;99L.;J==FAF?

; '=>LMF<D=J9F;@:DG;C

< -A?@LMF<D=J9F;@DG;COAL@9,-.<MJ9LAGFUEK=;

= $FLJ9N=FLJA;MD9JGF<M;LAGF=>=;LOAL@9,-.<MJ9LAGFUEK=;

> .=JME:ADAJM:AF/GL9DAJ=;LGJ$F<AJ=;L
P0')9J==P;DM<=<
#GO=N=J9:FGJE9D
N9DM=KG>:=LO==F	
P0')E9Q:=;GFKA<=J=<:MLEMKL:=J=H=9L=<GF;=>GJ
;GF>AJE9LAGF<MJAF?L@=K;J==FAF?H=JAG<
-=H=9LJ=KMDLK8@>?:=L@=K9E=GJDGO=JL@9F
L@=>AJKLD9:J=KMDLAFGJ<=JLGJ=E9AF=DA?A:D=>GJL@=KLM<Q
.M:B=;LKEMKL:==P;DM<=<A>
J=H=9LAK
P0')

? )=MLJGH@AD;GMFLTV'GJ=IMAN9D=FL

@ ./."*/GJ'/."+/
P0')9J==P;DM<=<
#GO=N=J9:FGJE9DN9DM=KG>
:=LO==F	
P0')E9Q:=;GFKA<=J=<:MLEMKL:=J=H=9L=<GF;=>GJ;GF>AJE9LAGF
<MJAF?L@=K;J==FAF?H=JAG<
-=H=9LJ=KMDLK8@>?:=L@=K9E=GJDGO=JL@9FL@=>AJKLD9:
J=KMDLAFGJ<=JLGJ=E9AF=DA?A:D=>GJL@=KLM<Q
.M:B=;LKEMKL:==P;DM<=<A>J=H=9LAK

P0')

 *L@=J P;DMKAGFJAL=JA9
9 +JAKGF=JKGJKM:B=;LKO@G9J=AFNGDMFL9JADQAF;9J;=J9L=<

: .M:B=;LKO@G9J=;GEHMDKGJADQ<=L9AF=<>GJLJ=9LE=FLG>=AL@=J9HKQ;@A9LJA;GJH@QKA;9D
=
?
AF>=;LAGMK<AK=9K=ADDF=KK

; .;GJ=G>GFL@=.@==@9F.MA;A<9DALQ/J9;CAF?.;9D=>GJL@=H=JAG<G><9QKHJAGJLG
.;J==FAF?9F<<MJAF?L@=KLM<Q

< +9JLA;AH9LAGFAF;DAFA;9DLJA9DOAL@FGF	:AGDG?A;9DAFN=KLA?9LAGF9D9?=FLKGJAFN=KLA?9LAGF9D
AFL=JN=FLAGF9DLJ=9LE=FLKD9KLKLM<QNAKALG;;MJJAF?OAL@AFL@=<9QKHJAGJLG9K=DAF=
1AKAL


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









= .M:B=;LKO@G@9N=HJ=NAGMKDQH9JLA;AH9L=<AF9FQ#1	KLM<QJ=	K;J==FK>GJL@AK
KLM<Q#1	E9Q:=;GFKA<=J=<9K<=K;JA:=<AFAF;DMKAGF;JAL=JA9:9:GN=

> +9JLA;AH9LAGFAF;DAFA;9DLJA9DOAL@:AGDG?A;9DAFN=KLA?9LAGF9D9?=FLKD9KLKLM<QNAKAL
G;;MJJAF?OAL@AFL@=<9QKHJAGJLG9K=DAF=NAKAL

? +9JLA;AH9LAGFAF9FQGL@=JAFN=KLA?9LAGF9D;DAFA;9DLJA9DO@AD=H9JLA;AH9LAF?AFL@AK;DAFA;9D
LJA9D
+9JLA;AH9LAGFAF9*1$	E-)N9;;AF=KLM<QN9;;AF=EMKL:=9ML@GJAR=<
MF<=J!=E=J?=F;QMK=9ML@GJAR9LAGFGJ9HHJGN9D+#&( '(-'$#'( '(
#'G>L@=N9;;AF=9J=H=JEALL=<LG:=K;J==F=<>GJL@AKKLM<Q

@ $<=FLA>A=<9K9<MHDA;9L=KM:B=;LAF/.<9L9:9K=

A .M:B=;LKEMKL;GEHD=L=L@=9K=DAF=-9F<GEAR9LAGFNAKALOAL@AFLG<9QKG>L@=
.;J==FAF?NAKAL/9:D=

 +D=9K=K==.=;LAGF
>GJ+JG@A:AL=<E=<A;9LAGFK9F<.=;LAGF
>GJ9DDGO9:D=-=K;M=
(=<A;9LAGFK



53,-&-7)(32'31-7%27)(-'%7-326
/@=:=DGOE=<A;9LAGFK9J=HJG@A:AL=<HJAGJLGJ9F<GEAR9LAGF")&"(#)&'#(''()-
#&''$

 .L
%G@FZK2GJLK@GMD<FGL:=L9C=F<9QKHJAGJLGJ9F<GEAR9LAGF9F<L@JGM?@GMLL@=KLM<Q


 9J:ALMJ9L=	;GFL9AFAF?HJG<M;LK=
?
!AGJA;=L!AGJAF9D:ML9D:AL9DH@=FG:9J:AL9DK@GMD<FGL
:=L9C=F<9QKHJAGJLGJ9F<GEAR9LAGF9F<L@JGM?@GMLL@=KLM<Q


 (G<9>AFAD+-*1$"$'K@GMD<FGL:=L9C=F<9QKHJAGJLGJ9F<GEAR9LAGF9F<L@JGM?@GML
L@=KLM<Q


 MLL=J:MJJGGLGJ=PLJ9;LKK@GMD<FGL:=L9C=F<9QKHJAGJLGJ9F<GEAR9LAGF9F<L@JGM?@GML
L@=KLM<Q


 #AKLGJQG>MK=G>=J?GL9EAF=E=<A;9LAGFKGF?J=9L=JL@9F=IM9D<9QKH=JEGFL@GF9
J=?MD9J:9KAK>GJ?J=9L=JL@9F=IM9DEGFL@K


 #AKLGJQG>FGF	F9J;GLA;9F9D?=KA;AFL9C=GF?J=9L=JL@9F=IM9D<9QKH=JEGFL@>GJ?J=9L=J
L@9F=IM9DEGFL@=
?
9;=L9EAFGH@=F).$K?9:9H=FLAF=L;
#&#(&$"
"(#"'+D=9K=J=>=JLG.=;LAGF
>GJJ=K;M=E=<A;9LAGF


 0K=G>F9J;GLA;E=<A;9LAGFKM;@9KGHAGA<K=
?
EGJH@AF=;G<=AF=GPQ;G<GF=9F<
@Q<JG;G<GF=>GJ9LD=9KL<9QKHJAGJLGJ9F<GEAR9LAGF


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/










 0K=G>9DD9;=L9EAFGH@=FGJ9;=L9EAFGH@=F;GFL9AFAF?HJG<M;LKEMKL:=<AK;GFLAFM=<9L
D=9KL<9QKHJAGJLGJ9F<GEAR9LAGF9;=L9EAFGH@=FMHLGE?<9QAK9DDGO=<9KJ=K;M=
E=<A;9LAGF9K<AJ=;L=<AF.=;LAGF

MJAF?L@=K;J==FAF?H@9K=	<9QKMK=G>
9;=L9EAFGH@=FGJ9;=L9EAFGH@=F;GFL9AFAF?HJG<M;LK9L<9ADQ<GKAF?D=N=DKG>?J=9L=JL@9F
E?<9QAKHJG@A:AL=<


 0K=G>E9JABM9F9AKHJG@A:AL=<<MJAF?L@=KLM<Q


(MK;D=J=D9P9FLK:9;DG>=FAK9DDGO=<9KJ=K;M=E=<A;9LAGFK==.=;LAGF



GF;GEAL9FLMK=G>KLJGF?4+AF@A:ALGJKOAL@#1	AKHJG@A:AL=<<MJAF?L@=
KLM<Q
$>MK=G>9KLJGF?4+AF@A:ALGJAKJ=IMAJ=<KM;@9KMK=G>#$1+JGL=9K=
$F@A:ALGJK#=H9LALAKHJGL=9K=AF@A:ALGJK;=JL9AF9RGD=9FLA>MF?9DKGJ;D9JAL@JGEQ;AF<GKAF?
OAL@#1	K@GMD<:=KLGHH=<9F<K@GMD<FGLKL9JL9?9AFMFLAD<9QK9>L=JL@=D9KL<GK=
G>L@=KLJGF?4+AF@A:ALGJ
-=>=JLG.=;LAGF
HH=F<AP


GF;GEAL9FLMK=G>KLJGF?4+AF<M;=JKOAL@#1	AKHJG@A:AL=<<MJAF?L@=KLM<Q

$>MK=G>9KLJGF?4+AF<M;=JAKJ=IMAJ=<KM;@9KMK=G>;9J:9E9R=HAF=H@=FQLGAFGJ
JA>9EHAF<GKAF?OAL@#1	K@GMD<:=KLGHH=<9F<K@GMD<FGLKL9JL9?9AFMFLAD<9QK
9>L=JL@=D9KL<GK=G>L@=KLJGF?4+AF<M;=J
-=>=JLG.=;LAGF
HH=F<AP

13.0K=G>*/GJHJ=K;JAHLAGFtopical nasal steroids, oxymetazoline, topical nasal 
antihistamines, topical nasal anticholinergics, and topical nasal mast cell stabilizers should 
not be taken within 14 days prior to the screening visit and throughout the study. 

.M:B=;LKGFHJGH@QD9;LA;EA?J9AF=E=<A;9LAGF9J=H=JEALL=<LGJ=E9AFGFL@=J9HQHJGNA<=<
L@=Q@9N=:==FGF9KL9:D=<GK=>GJ9LD=9KLEGFL@KHJAGJLGKLM<Q=FLJQ


/@=MK=G>"-+9FL9?GFAKL:AGDG?A;K6=
?
 E?9DALQ?9D;9F=RME9:AEGNA?
=J=FME9:BGNQ>J=E9F=RME9:1Q=HLA=HLAF=RME9:	BBEJ7AKHJG@A:AL=<<MJAF?L@=
KLM<Q
"-+9FL9?GFAKL:AGDG?A;KEMKL:=<AK;GFLAFM=<EGFL@KHJAGJLGK;J==FAF?9F<9J=
HJG@A:AL=<L@JGM?@GMLL@=KLM<Q


/@=MK=G>!	9HHJGN=<?=H9FLKEMKL:=<AK;GFLAFM=<O==CKHJAGJLGK;J==FAF?9F<9J=
HJG@A:AL=<L@JGM?@GMLL@=KLM<Q=
?
)MJL=;*/JAE=?=H9FL0:J=DNQM:JG?=H9FL


'GO<GK=9KHAJAF=
?
E?GJD=KK>GJ<G;ME=FL=<;9J<AGN9K;MD9JHJGH@QD9PAKAK9DDGO=<


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










)6'8))(-'%7-326
>L=J<GKAF?OAL@KLM<Q<JM?9DDGL@=J@=9<9;@=E=<A;9LAGFAKHJG@A:AL=<<MJAF?L@=>AJKL@GMJK
HGKL<GK=G>KLM<Q<JM?9<EAFAKLJ9LAGF
KM:B=;LO@G<G=KFGL=PH=JA=F;=J=DA=>G>L@=AJEA?J9AF=
@=9<9;@=9LL@==F<G>@GMJK9>L=J<GKAF?OAL@KLM<Q<JM?"(&(
#)&''''!"('
*"#!$ (#"(" *OADD:=H=JEALL=<LGMK=*)'4L@=>GDDGOAF?
J=K;M=E=<A;9LAGF'$&")$&#"(!"#$")$(#	!-('" )'
,&"&"$&#'-"#&"-#(&(-$#"#"'(&# "(" !!(#&-
"(!('!(# #$&!#&$&#!(."#& #"'&(#" -
!(#"'  #+#&&')(&(!"((&
#)&'$#'(#'#'()-&)
$>L@=EA?J9AF=AKJ=DA=N=<:QKLM<Q<JM?9L@GMJK9>L=J<GKAF?:MLL@=FJ=LMJFKLG9EG<=J9L=GJ
K=N=J=AFL=FKALQD=N=D:=LO==F9F<@GMJKL@=KM:B=;LOADD:=H=JEALL=<LGL9C=L@=K9E=
J=K;M=L@=J9HQ9KGMLDAF=<9:GN=

$F9DD;AJ;MEKL9F;=KL@=KM:B=;LOADD9DO9QK;GFLAFM=LG;GEHD=L=L@=@9F<@=D<=FLJA=KL@JGM?@
L@=	@GMJ9KK=KKE=FL9>L=JL9CAF?L@=KLM<Q<JM?
0K=G>;GF;GEAL9FLE=<A;9LAGF9>L=J
J9F<GEAR9LAGFAF;DM<AF?J=K;M=E=<A;9LAGFOADD:=J=;GJ<=<:QL@=KM:B=;LGF9H9H=J<A9JQ9F<
J=LMJF=<LGL@=KAL=
.M:B=;LKOADDJ=;GJ<9FQ;GF;GEAL9FLE=<A;9LAGFKL9C=FGFL@=GF;GEAL9FL
(=<A;9LAGFH9H=J<A9JQ
.M:B=;LKOADDJ=;GJ<9FQJ=K;M=E=<A;9LAGFKL9C=FGFL@=-=K;M=
(=<A;9LAGFH9H=J<A9JQ
/@=KAL=OADDJ=;GJ<E=<A;9LAGFKL@9LO=J=L9C=FOAL@AF<9QKG>
<GKAF?OAL@KLM<Q<JM?GJMFLADL@= */1AKALAFL@= 

MJAF?L@=<9QKG>L@=LJ=9LE=FLH@9K=A>L@=KM:B=;L@9K9FGFIM9DA>QAF?EA?J9AF=EAD<
EA?J9AF=GJ9EA?J9AF=L@9LL@=Q<GFGLLJ=9LOAL@KLM<Q<JM?L@=KM:B=;LAKH=JEALL=<LGMK=GFDQ
L@=>GDDGOAF?E=<A;9LAGFK'$&")$&#"$&#'-"#&"-#(&(-$#"#"'(&# 
"(" !!(#&-"(!('!(# #$&!#&$&#!(."#& #"

>L=J;GEHD=LAF?9DD9KK=KKE=FLKAFL@=AJ@9F<@=D<L@JGM?@@GMJK9F<:=>GJ=J=LMJFAF?LGL@=
;DAFA;9DKAL=>GJ */1AKALA>KM:B=;LK=PH=JA=F;=9EA?J9AF=L@=Q9J=9DDGO=<LGL9C=L@=AJ
HJ=K;JA:=<KL9F<9J<G>;9J=E=<A;9LAGFAF;DM<AF?LJAHL9FKA>FGL;GFLJ9AF<A;9L=<9F<
9;=L9EAFGH@=FMHLGE?<9QL@AKAF;DM<=K P;=<JAF(A?J9AF=HJGNA<=<L@=E=<A;9LAGFAK
FGLGL@=JOAK=HJG@A:AL=<


"31)23*,-0(&)%5-2+37)27-%0
2GE=FG>;@AD<:=9JAF?HGL=FLA9D2*+AF;DM<=K9FQ>=E9D=O@G@9K=PH=JA=F;=<E=F9J;@=
9F<O@G@9KFGLMF<=J?GF=KM;;=KK>MDKMJ?A;9DKL=JADAR9LAGF@QKL=J=;LGEQ:AD9L=J9DLM:9D
DA?9LAGFGJ:AD9L=J9DGGH@GJ=;LGEQGJAKFGLHGKLE=FGH9MK9D
 KKMJ=LM:9DG;;DMKAGF9F<
=F<GE=LJA9D9:D9LAGF9J=FGL9;;=HL9:D=E=L@G<KG>;GFLJ9;=HLAGF
(=FGH9MK=AK<=>AF=<9K

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









• E=FGJJ@=9?J=9L=JL@9FGJ=IM9DLG;GFK=;MLAN=EGFL@KOAL@GML9FGL@=J;9MK=9F<9
<G;ME=FL=<K=JME>GDDA;D=KLAEMD9LAF?@GJEGF=!.#D=N=DE$0E'
)*/ !.#D=N=DL=KLAF?AKFGLJ=IMAJ=<>GJOGE=F?J=9L=JL@9FGJ=IM9DLGQ=9JKGD<OAL@
9E=FGJJ@=9G>?J=9L=JL@9FGJ=IM9DLGQ=9J
GJ
• 2GE9FGF@GJEGF=J=HD9;=E=FLL@=J9HQ#-/O@GFGDGF?=JE=FKLJM9L=

2GE=FG>;@AD<:=9JAF?HGL=FLA9D2*+9F<9DDE=FEMKLMF<=JKL9F<L@=>GDDGOAF?
J=IMAJ=E=FLK9F<MK=9F9;;=HL9:D=E=L@G<G>;GFLJ9;=HLAGFLG9NGA<HJ=?F9F;QL@JGM?@GMLL@=
KLM<Q9F<>GJMHLG<9QK9>L=JL@=D9KL<GK=G>AFN=KLA?9LAGF9DHJG<M;LAFKM;@9E9FF=JL@9L
JAKCG>HJ=?F9F;QAKEAFAEAR=<

/@=J=IMAKAL=<JM?AFL=J9;LAGFKLM<A=KLG<=L=JEAF=L@=AFL=J9;LAGFG>R9N=?=H9FLOAL@GJ9D
;GFLJ9;=HLAN=K@9N=FGL:==FH=J>GJE=<LG<9L=
$LAKL@=J=>GJ=FGLHGKKA:D=LG<=L=JEAF=L@=
=>>A;9;QG>GJ9D;GFLJ9;=HLAN=K9K9F=>>=;LAN=E=L@G<G>;GFLJ9;=HLAGF>GJ2*+GJE=FOAL@
H9JLF=JKO@G9J=2*+O@G9J=H9JLA;AH9LAF?L@AKKLM<Q
*J9D=KLJG?=F9F<HJG?=KLAF@GJEGF9D
;GFLJ9;=HLAN=K9K9KGD=E=L@G<G>;GFLJ9;=HLAGF9J=L@=J=>GJ=HJG@A:AL=<

$LAKJ=IMAJ=<L@9L9DD2*+MK=E=L@G<KG>;GFLJ9;=HLAGFLGHJ=N=FLHJ=?F9F;Q>GJL@=
<MJ9LAGFG>L@=KLM<QA
=
L@AKKLM<Q:=?AFKOAL@KA?F=<;GFK=FL>GJEL@JGM?@<9QK9>L=J
<GKAF?OAL@KLM<Q<JM?
/@=E=L@G<KK@GMD<AF;DM<=:9JJA=JE=L@G<=P
;GF<GEOAL@
KH=JEA;A<9D?=DFGF	@GJEGF9DAFLJ9ML=JAF=<=NA;=K;=JNA;9D;9H=L;
9F<GL@=JE=L@G<
/@=
GL@=JE=L@G<;GMD<AF;DM<=@GJEGF9D;GFLJ9;=HLAN=K=
?
GJ9D;GFLJ9;=HLAN=KAFB=;L9:D=
;GFLJ9;=HLAN=KH9L;@GJ;GFLJ9;=HLAN=AEHD9FL6=
?
@GJEGF9DAFLJ9ML=JAF=<=NA;=7MK=<KAF;=9L
D=9KLO==CKHJAGJLGK=PM9DAFL=J;GMJK=GJ9FGL@=J:9JJA=JE=L@G<

2*+9F<9DDE9D=KM:B=;LKEMKL:=;GMFK=D=<GFL@=J=IMAJ=E=FLKLG9NGA<HJ=?F9F;Q
L@JGM?@GMLL@=KLM<Q9F<>GJ<9QK9>L=JL@=D9KL<GK=G>KLM<QE=<A;9LAGF9KO=DD9K
9;;=HL9:D=E=L@G<KG>;GFLJ9;=HLAGFLGMK=<MJAF?L@=KLM<Q
.M:B=;LKO@GJ=HGJL9:KLAF=F;=GJ
O@GJ=HGJL=P;DMKAN=DQ:=AF?AFK9E=	K=PJ=D9LAGFK@AHK9J=KLADDJ=IMAJ=<LGMF<=JKL9F<L@=
;GFLJ9;=HLAGFJ=IMAJ=E=FLKAFL@AKKLM<QLGHJ=N=FLHJ=?F9F;Q
$>KM:B=;LKO@GJ=HGJL9:KLAF=F;=
GJO@GJ=HGJL=P;DMKAN=DQ:=AF?AF9K9E=	K=PJ=D9LAGFK@AH=F?9?=AF@=L=JGK=PM9D9;LANALQL@=F
L@=;GFLJ9;=HLAGFJ=IMAJ=E=FLKEMKL:=>GDDGO=<

(9D=KOAL@N9K=;LGEQ9J=;GFKA<=J=<KMJ?A;9DDQKL=JAD=HJGNA<=<L@=HJG;=<MJ=G;;MJJ=<?J=9L=J
L@9FEGFL@KO==CKHJAGJLGL@=K;J==FAF?NAKAL
19K=;LGEQAK;GFKA<=J=<GF=>GJEG>
;GFLJ9;=HLAGFL@=J=>GJ=GF=9<<ALAGF9D>GJEG>;GFLJ9;=HLAGFEMKL:=MK=<LG>MD>ADDL@=
;GFLJ9;=HLAGFJ=IMAJ=E=FLK>GJL@=KLM<Q
(9D=KM:B=;LKEMKLFGL<GF9L=KH=JEMFLAD<9QK
>GDDGOAF?L@=D9KLKLM<Q<JM?9<EAFAKLJ9LAGF

DD2*+EMKL;GEHD=L=L@=HJ=?F9F;QL=KLK;@=<MD=/9:D=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









2GE=FO@GKMKH=;LL@9LL@=Q@9N=:=;GE=GJE9Q@9N=:=;GE=HJ=?F9FL<=KHAL=MKAF?HJGH=J
:AJL@;GFLJGDE=L@G<KK@GMD<MK=L@=@GE=HJ=?F9F;QL=KLHJGNA<=<9L9K=DAF=1AKAL
DD
2*+EMKL9<EAFAKL=JL@=@GE=HJ=?F9F;QL=KLHJAGJLGL9CAF?AFN=KLA?9LAGF9DKLM<Q<JM?
$>
L@=HJ=?F9F;QL=KLAKHGKALAN=KM:B=;LKK@GMD<FGLL9C=KLM<Q<JM?9F<K@GMD<AEE=<A9L=DQ
;GFL9;LL@=$FN=KLA?9LGJ


7,)5)675-'7-326%2(5)'%87-326-*%440-'%&0)
)GLHHDA;9:D=


)9-%7-32*5312'086-32;'086-325-7)5-%
FQKA?FA>A;9FL=N=FLL@9L<G=KFGL;GEHDQOAL@L@=AF;DMKAGF;JAL=JA9=P;DMKAGF;JAL=JA9KLM<Q
;GF<M;LGJKLM<QHJG;=<MJ=KOADD:=<G;ME=FL=<9K9<=NA9LAGF
=NA9LAGFKOADD:=<G;ME=FL=<
9F<J=HGJL=<L@JGM?@L@=;DAFA;9DEGFALGJAF?G>L@=LJA9D
=NA9LAGFKOADD:=J=HGJL=<LGL@=
$- 9LL@=>J=IM=F;QJ=IMAJ=<:QQGMJ$- 
+JGKH=;LAN=9HHJGN9DG>HJGLG;GD<=NA9LAGFK
LGJ=;JMALE=FL9F<=FJGDDE=FL;JAL=JA99DKGCFGOF9KHJGLG;GDO9AN=JKGJ=P=EHLAGFKAKFGL
H=JEALL=<


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 !"#%#"! "!"#% # !

78(<%7)5-%06
/@=>GDDGOAF?KLM<QE9L=JA9DKOADD:=HJGNA<=<9LL@=KLM<QKL9JL
• $FN=KLA?9LGJ!AD=.LM<QAF<=J
• JM?;;GMFL9:ADALQ'G?K
• .9EHD=KGMJ;=<G;ME=FLK
• GF;GEAL9FL9F<-=K;M=(=<A;9LAGF'G?KL9C=@GE=>GJKM:B=;L
• $FN=KLA?9LGJJG;@MJ=
• $FL=J9;LAN=2=:	:9K=<-=KHGFK=.QKL=E$2-.E9FM9D
•  D=;LJGFA;9K=-=HGJL!GJEK=-!
  D=;LJGFA;9K=-=HGJL!GJEK=-!KOADD:=HJ=H9J=<>GJ9DD<9L9;GDD=;LAGF>A=D<K
• =*#9F<@=D<<=NA;=K
 *F=<=NA;=LG:=C=HLGFKAL=>GJLJ9AFAF?HMJHGK=KOAL@LJ9AFAF?E9L=JA9DK
 .MHHDQG><=NA;=K>GJ=9;@J9F<GEAR=<KM:B=;LLGJ=;=AN=<=NA;=LGMK=<MJAF?L@=
LJ=9LE=FLH@9K=
• JM?9<EAFAKLJ9LAGFAFKLJM;LAGFK
• '9:GJ9LGJQCALK9F<D9:GJ9LGJQE9FM9D
• #GE=HJ=?F9F;QL=KL>GJ=9;@J9F<GEAR=<KM:B=;LG>2*+
•  "(9;@AF=9F<AFKLJM;LAGFK
• . >GJEK9F<. -=HGJLAF?AFKLJM;LAGFK
• +J=?F9F;QKMJN=ADD9F;=>GJEK
• .	./.KGMJ;=<G;ME=FLK
• .AF?D=MK=<AKHGK9:D=F9K9DKH=;MDMEHJGNA<=<MHGFJ=IM=KL

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









• .LM<QKQKL=E9;;=KK
  D=;LJGFA;9L99HLMJ= LGGDLGKM:EALKLM<Q<9L9LG.HGFKGJ-*
 $2-.
 =FLJ9D'9:GJ9LGJQ

0-+-&-0-7<66)661)276
KGMLDAF=<AF/9:D=$F>GJE=<;GFK=FLAF;DMKAGF=P;DMKAGF;JAL=JA9E=<A;9D@AKLGJQKLM<Q
HJG;=<MJ=KEA?J9AF=@AKLGJQ9KK=KKE=FL;GF;GEAL9FLE=<A;9LAGFH9H=J<A9JQ "9F<
J9F<GEAR=KM:B=;LAF$2-.
	
%*)7<66)661)276


$.8&1!.,37&3)-=7.(&1*&796*2*387*.,-8&3)%*.,-8
G<QO=A?@L9F<@=A?@LOADD:=J=;GJ<=<9LL@=K;@=<MD=<NAKALK9KGMLDAF=<AF/9:D=


	
1*(864(&6).4,6&2
KL9F<9J<	D=9< "OADD:=J=;GJ<=<<MJAF?L@=.;J==FAF?+@9K=9F<9LL@=K;@=<MD=<NAKALK
9KGMLDAF=<AF/9:D=
;=FLJ9D "K=JNA;=OADD:=MLADAR=<>GJ9DD "K9F<:9K=<GFL@=
;=FLJ9DJ=9<L@=$FN=KLA?9LGJOADD<=L=JEAF=A>9FQ9:FGJE9DALA=K9J=G>;DAFA;9DKA?FA>A;9F;=




-=7.(&1<&2
.M:B=;LKOADDMF<=J?G9;GEHD=L=H@QKA;9D=P9EAF9LAGF9LL@=.;J==FAF?NAKAL9F<9LL@=
K;@=<MD=<NAKALK9KGMLDAF=<AF/9:D=
/@=<AJ=;L=<H@QKA;9D=P9EK@GMD<:=?MA<=<:QL@=
KM:B=;LZKKA?FK9F<KQEHLGEK
+@QKA;9D=P9EOADDAF;DM<=F9K9DAFKH=;LAGF

$>9HHDA;9:D=$FN=KLA?9LGJKK@GMD<H9QKH=;A9D9LL=FLAGFLG;DAFA;9DKA?FKJ=D9L=<LGHJ=NAGMK
K=JAGMKADDF=KK=K

	
 0 *,0.$"1(-,
/@=F9K9DH9KK9?=K9F<LMJ:AF9L=KOADD:=NAKM9DDQAFKH=;L=<:QL@=$FN=KLA?9LGJGJE=<A;9DDQ
IM9DA>A=<<=D=?9L=OAL@9F9K9DKH=;MDMEGJGLGK;GH=9LL@=.;J==FAF?9K=DAF=9F< */1AKALK
J=>=JLG/9:D=LG<=L=;L=NA<=F;=G>KA?FA>A;9FLF9K9D;GF<ALAGFKL@9LE9Q9>>=;LL@=
9<EAFAKLJ9LAGFGJ9:KGJHLAGFG>L@=F9K9DHJG<M;L=
?
K=N=J=K=HLME<=NA9LAGFF9K9D<=>GJEALQ
GJ:DG;C9?=AF>D9EE9LAGFH=J>GJ9LAGFEM;GK9D=JGKAGFGJMD;=J9LAGFHGDQHGKAKF9K9DLJ9ME9

)9K9D>AF<AF?KOADD:=J=;GJ<=<9K9HHJGHJA9L=9F<>GDDGO=<MFLADJ=KGDMLAGF


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/











&'46&846=77*772*387
/@=AFN=KLA?9LGJEMKLJ=NA=O9DDD9:GJ9LGJQJ=HGJLK<G;ME=FLL@AKJ=NA=O9F<J=;GJ<9FQ
;DAFA;9DDQJ=D=N9FL;@9F?=KG;;MJJAF?<MJAF?L@=KLM<QAFL@= K=;LAGFG>L@=-!K==
?MA<9F;=AF.=;LAGF


/@=D9:GJ9LGJQJ=HGJLKEMKL:=>AD=<OAL@L@=KGMJ;=<G;ME=FLK

DAFA;9DDQKA?FA>A;9FL9:FGJE9DD9:GJ9LGJQ>AF<AF?K9J=L@GK=O@A;@9J=FGL9KKG;A9L=<OAL@L@=
MF<=JDQAF?<AK=9K=MFD=KKBM<?=<:QL@=AFN=KLA?9LGJLG:=EGJ=K=N=J=L@9F=PH=;L=<>GJL@=
H9JLA;AH9FLK;GF<ALAGF

DDD9:GJ9LGJQL=KLKOAL@9:FGJE9DN9DM=K;GFKA<=J=<LG:=;DAFA;9DDQKA?FA>A;9FL<MJAF?
H9JLA;AH9LAGFAFL@=KLM<QK@GMD<:=J=H=9L=<MFLADL@=N9DM=KJ=LMJFLGFGJE9DGJ:9K=DAF=GJ9J=
FGDGF?=J;GFKA<=J=<;DAFA;9DDQKA?FA>A;9FL:QL@=AFN=KLA?9LGJGJE=<A;9DEGFALGJ

$>KM;@N9DM=K<GFGLJ=LMJFLGFGJE9D:9K=DAF=OAL@AF9J=9KGF9:D=H=JAG<G>LAE=9KBM<?=<:Q
L@=AFN=KLA?9LGJL@==LAGDG?QK@GMD<:=A<=FLA>A=<9F<L@=KHGFKGJFGLA>A=<

DDHJGLG;GD	J=IMAJ=<D9:GJ9LGJQ9KK=KKE=FLKEMKL:=;GF<M;L=<AF9;;GJ<9F;=OAL@L@=
D9:GJ9LGJQE9FM9D9F</9:D=

$>D9:GJ9LGJQN9DM=K>JGEFGF	HJGLG;GDKH=;A>A=<D9:GJ9LGJQ9KK=KKE=FLKH=J>GJE=<9LL@=
AFKLALMLAGFZKDG;9DD9:GJ9LGJQJ=IMAJ=9;@9F?=AFKLM<QE9F9?=E=FLGJ9J=;GFKA<=J=<;DAFA;9DDQ
KA?FA>A;9FL:QL@=AFN=KLA?9LGJ=
?
. GJ GJ<GK=EG<A>A;9LAGFL@=FL@=J=KMDLKEMKL:=
J=;GJ<=<AFL@=-!

	
 %$15 !-/ 1-/5$01(,&
DGG<9F<MJAF=K9EHD=KOADD:=G:L9AF=<9KGMLDAF=<AF/9:D=>GJ;DAFA;9DD9:GJ9LGJQ
=N9DM9LAGFK
;=FLJ9DD9:GJ9LGJQN=F<GJOADD:=MLADAR=<>GJL@AKKLM<Q9F<9D9:GJ9LGJQE9FM9D
OADD:=HJGNA<=<LG=9;@KAL=
1;:>>4-70>@-50.?>>3:@7/-01,>?4921:=,84948@8:13:@=>
;=4:=?:,77-7:://=,B>#GO=N=JA>9KM:B=;LAKFGL>9KLAF?9L9?AN=FNAKALL@=:DGG<<J9O
K@GMD<KLADD:=H=J>GJE=<9F<L@=FGF	>9KLAF?KL9LMKK@GMD<:=<G;ME=FL=<

08,?:7:2D#=EG?DG:AF@=E9LG;JALJ=<:DGG<;=DD;GMFLO@AL=:DGG<;=DD;GMFL2OAL@
<A>>=J=FLA9D9F<HD9L=D=LK

7::/.3084>?=D070.?=:7D?0.G<AMEHGL9KKAME;@DGJA<=:A;9J:GF9L=;9D;AME?DM;GK=0)
MJ=9K=JME;J=9LAFAF=MJA;9;A<'/./9DC9DAF=H@GKH@9L9K='#LGL9DHJGL=AF
9D:MEAFLGL9D:ADAJM:AF<AJ=;L:ADAJM:AFAF<AJ=;L:ADAJM:AF&
 */1AKALW=D=N9LAGFKAF&
P0')E9Q@9N=>MJL@=J&>J9;LAGF9LAGFL=KLKH=J>GJE=<

4;4/;,907/GL9D;@GD=KL=JGD'';@GD=KL=JGD#';@GD=KL=JGDLJA?DQ;=JA<=K

>?48,?0/27:80=@7,=147?=,?4:9=,?0="!-MKAF?L@==KLAE9L=<(->GJEMD9OADD:=
;9D;MD9L=<9F<J=HGJL=<:QL@=;=FLJ9DD9:9L=9;@NAKALL@9L;DAFA;9DD9:GJ9LGJQL=KLK9J=;GDD=;L=<
9KGMLDAF=<AF/9:D=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









&=49,7D>4>H#KH=;A>A;?J9NALQC=LGF=KFALJAL=KMJG:ADAFG?=FD=MCG;QL==KL=J9K=HJGL=AF
?DM;GK=9F<:DGG<
$>:DGG<HJGL=AFGJD=MCG;QL=K9J=HGKALAN=J=>D=PLGEA;JGK;GHA;
=P9EAF9LAGF

&=490=@2$.=009!GJ<JM?KG>9:MK=AF;DM<AF?:MLFGLDAEAL=<LG;G;9AF=9EH@=L9EAF=K
GHAGA<K++/#9F<:9J:ALMJ9L=K

#0170C?0>?>
• $>'/GJ./UP0')*-LGL9D:ADAJM:AFUP0')9L9FQNAKAL9>L=JL@=:9K=DAF=NAKAL
L@=;=FLJ9DD9:GJ9LGJQOADDH=J>GJEJ=>D=PL=KLKL@9LE9QAF;DM<=&""/9F<9FLA	NAJ9D
K=JGDG?A=K
.M:B=;LKE9Q@9N=LGJ=LMJFLGL@=KLM<QKAL=LGHJGNA<=9<<ALAGF9D:DGG<K9EHD=K
>GJL@=K=D9:GJ9LGJQL=KLK

<<ALAGF9DD9:GJ9LGJQL=KLKE9Q:=J=IMAJ=<



/$&, ,"5$01(,&
+J=?F9F;QL=KLKOADD:=;GF<M;L=<K=JMEMJAF=GJ@GE=HJ=?F9F;QL=KLO@=F9HHJGHJA9L=9F<
9KGMLDAF=<AF/9:D=
$>9HHDA;9:D=9!.#L=KLOADD:=G:L9AF=<9LK;J==FAF?LG;GF>AJE2*+
KL9LMK



!-**-&3!9.(.)&1.8="6&(0.3,!(&1*!!"!
/@=.	./.AK9HJGKH=;LAN=;DAFA;A9F9<EAFAKL=J=<J9LAF?K;9D=L@9L;GFL9AFKIM=KLAGFKL@9LLJ9;C
:GL@LJ=9LE=FL	=E=J?=FLKMA;A<9DA<=9LAGF9F<:=@9NAGJK
/@=.	./.OADD:=;GEHD=L=<GF9
H9H=J>GJE9LL@=KAL=
LL@=K;J==FAF?NAKALL@=J=;9DDH=JAG<>GJ;GEHD=LAF?L@=.	./.AKOAL@AF
L@=D9KL<9QKHJAGJLGL@=K;J==FAF?NAKAL9L9DDGL@=JNAKALKL@=J=;9DDH=JAG<>GJ;GEHD=LAF?L@=
.	./.AKKAF;=L@=D9KLNAKALJ=>=J=F;=/9:D=
.M:B=;LKO@G@9N=9.	./.K;GJ=G>K@GMD<
:==N9DM9L=<:QL@=$FN=KLA?9LGJ
$>L@=$FN=KLA?9LGJ<=L=JEAF=KL@9L9KM:B=;LAK9LJAKCG>KMA;A<=
GJK=D>	@9JE9HHJGHJA9L=E=9KMJ=KLG=FKMJ=L@=KM:B=;LZKK9>=LQ9F<G:L9AFE=FL9D@=9DL@
=N9DM9LAGFEMKL:=AEHD=E=FL=<
$FKM;@;AJ;MEKL9F;=KL@=KM:B=;LEMKLAEE=<A9L=DQ:=
<AK;GFLAFM=<>JGEL@=KLM<Q
/@==N=FLK@GMD<:=J=;GJ<=<9K=AL@=J9F GJ. 9K<=L=JEAF=<
:QL@=AFN=KLA?9LGJ9F<J=HGJL=<OAL@AF@GMJKLGL@=.HGFKGJ



**-'%'<66)661)276

&.3
.M:B=;LKJ=;GJ<L@=AJ@=9<9;@=H9AFAFL=FKALQMKAF?9	HGAFLFME=JA;J9LAF?K;9D=FGF=EAD<
EG<=J9L=K=N=J=AFL@==*@9F<@=D<<=NA;=9LL@=LAE=HGAFLKAF<A;9L=<AF/9:D=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









	
&97*&-4345-4'.&&3)-4845-4'.&
.M:B=;LKOADDJ=;GJ<L@=KL9LMKHJ=K=FLGJ9:K=FLG>L@=AJEA?J9AF=9KKG;A9L=<KQEHLGEKG>
H@GLGH@G:A9H@GFGH@G:A99F<F9MK=9AFL@=@9F<@=D<9LL@=LAE=HGAFLKAF<A;9L=<AF/9:D=
$F
9<<ALAGFKM:B=;LKOADDJ=;GJ<L@=AFL=FKALQG>L@=KQEHLGEGF9	HGAFLFME=JA;J9LAF?K;9D=
FGF=EAD<EG<=J9L=GJK=N=J=AFL@=@9F<@=D<9LL@=K9E=LAE=HGAFLK

.M:B=;LKOADD9DKGJ=;GJ<L@=AJ;MJJ=FL(.F9MK=9H@GFGH@G:A9GJH@GLGH@G:A9AFL@=
@9F<@=D<:=>GJ=L9CAF?KLM<Q<JM?



 *7(9**).(&8.43
.M:B=;LKEMKLFGLL9C=J=K;M=E=<A;9LAGFMFLAD@GMJKHGKL<GK=OAL@KLM<Q<JM?
.M:B=;LKOADD
J=;GJ<L@=AJMK=G>J=K;M=E=<A;9LAGFAF9H9H=J<A9JQ


93(8.43&1.7&'.1.8=
.M:B=;LKOADDJ=;GJ<L@=AJ>MF;LAGF9D<AK9:ADALQD=N=DMKAF?L@=!MF;LAGF9DAK9:ADALQK;9D=9	
HGAFLFME=JA;J9LAF?K;9D=FGJE9DEAD<AEH9AJE=FLK=N=J=AEH9AJE=FLJ=IMAJ=<:=<J=KLAFL@=
@9F<@=D<9LL@=LAE=HGAFLKAF<A;9L=<AF/9:D=


7,)566)661)276

.,6&.3*9&1.8=4+.+*9*78.433&.6*
/@=(A?J9AF=,M9DALQG>'A>=,M=KLAGFF9AJ=(,G'N=JKAGF
AK9	AL=EAFKLJME=FLL@9L@9K
:==FN9DA<9L=<AFEA?J9AF=KM:B=;LKLG9KK=KKL@==>>=;LG>EA?J9AF=9F<ALKLJ=9LE=FLGFH9LA=FLKZ
@=9DL@J=D9L=<IM9DALQG>DA>=AFL@=>GDDGOAF?EA?J9AF=	KH=;A>A;<GE9AFKOGJC>MF;LAGFAF?
KG;A9D>MF;LAGFAF?=F=J?QNAL9DALQ>==DAF?K9F<;GF;=JFK9F<EA?J9AF=@=9<9;@=KQEHLGEK

.M:B=;LKOADD=N9DM9L=L@=(,G'MKAF?L@=@9F<@=D<9L@GMJKHGKL<GK=K==/9:D=

	
6*+*6*3(*4+*).(.3*
/@=+J=>=J=F;=G>(=<A;9LAGF+G(AK9	HGAFLFME=JA;J9LAF?K;9D=L@9LE=9KMJ=KL@=KM:B=;LZK
HJ=>=J=F;=G>KLM<Q<JM?LGHJ=NAGMKE=<A;9LAGFKLGLJ=9LEA?J9AF=H9AF
/@=HJ=>=J=F;=
;9L=?GJA=K9J=EM;@:=LL=J$HJ=>=JL@AKE=<A;9LAGFKDA?@LDQ:=LL=JL@9FL@=HJ=NAGMKE=<A;9LAGF
9:GMLL@=K9E=9KL@=HJ=NAGMKE=<A;9LAGFKDA?@LDQOGJK=L@9FL@=HJ=NAGMKE=<A;9LAGF9F<
EM;@OGJK=$HJ=>=JEQHJ=NAGMKE=<A;9LAGF
.M:B=;LKOADD=N9DM9L=L@=+G(MKAF?L@=@9F<@=D<
9L@GMJKHGKL<GK=K==/9:D=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/










%50<-6'327-28%7-32*5317,)78(<
.M:B=;LK(0./<AK;GFLAFM=AFN=KLA?9LAGF9DHJG<M;L9F<FGF	AFN=KLA?9LAGF9DHJG<M;L9LL@=
<AK;J=LAGFG>L@=AFN=KLA?9LGJ>GJ9FQG>L@=>GDDGOAF?J=9KGFK
• 2AL@<J9O9DG>AF>GJE=<;GFK=FLKM:B=;LZK<=;AKAGFLGOAL@<J9O>GJ9FQJ=9KGF
• FQ;DAFA;9D D9:GJ9LGJQ9:FGJE9DALQGJAFL=J;MJJ=FLADDF=KKO@A;@AFL@=GHAFAGFG>L@=
AFN=KLA?9LGJGJKHGFKGJAF<A;9L=KL@9L;GFLAFM=<H9JLA;AH9LAGFAFL@=KLM<QAKFGLAFL@=:=KL
AFL=J=KLG>L@=KM:B=;L
• +J=?F9F;Q
• /=JEAF9LAGFG>L@=KLM<Q:QAG@9N=F+@9JE9;=MLA;9DK
• 'GKKG>9:ADALQLG>J==DQHJGNA<=;GFK=FLL@JGM?@AEHJAKGFE=FLGJAFNGDMFL9JQAF;9J;=J9LAGF
>GJLJ=9LE=FLG>=AL@=J9HKQ;@A9LJA;GJH@QKA;9D=
?
AF>=;LAGMK<AK=9K=ADDF=KK
• .==.=;LAGF

>GJ?MA<9F;=GFKLM<Q<AK;GFLAFM9LAGF:9K=<GFJ=KMDLK>JGEL@=.	./.

DDKM:B=;LKO@G<AK;GFLAFM=K@GMD<;GEHDQOAL@HJGLG;GDKH=;A>A=< */1AKALHJG;=<MJ=K9K
GMLDAF=<AF/9:D=
/@=GFDQ=P;=HLAGFLGL@AKJ=IMAJ=E=FLAKO@=F9KM:B=;LOAL@<J9OK;GFK=FL
>GJ9DDKLM<QHJG;=<MJ=KGJDGK=KL@=9:ADALQLG;GFK=FL>J==DQA
=
AKAEHJAKGF=<GJAFNGDMFL9JADQ
AF;9J;=J9L=<>GJL@=LJ=9LE=FLG>=AL@=J9HKQ;@A9LJA;GJH@QKA;9DADDF=KK


478844114;#5
H9JLA;AH9FLOADD:=;GFKA<=J=<DGKLLG>GDDGO	MHA>@=GJK@=J=H=9L=<DQ>9ADKLGJ=LMJF>GJ
K;@=<MD=<NAKALK9F<AKMF9:D=LG:=;GFL9;L=<:QL@=KLM<QKAL=

/@=>GDDGOAF?9;LAGFKEMKL:=L9C=FA>9H9JLA;AH9FL>9ADKLGJ=LMJFLGL@=;DAFA;>GJ9J=IMAJ=<
KLM<QNAKAL
• /@=KAL=EMKL9LL=EHLLG;GFL9;LL@=H9JLA;AH9FL9F<J=K;@=<MD=L@=EAKK=<NAKAL9KKGGF9K
HGKKA:D=9F<;GMFK=DL@=H9JLA;AH9FLGFL@=AEHGJL9F;=G>E9AFL9AFAF?L@=9KKA?F=<NAKAL
K;@=<MD=9F<9K;=JL9AFO@=L@=JGJFGLL@=H9JLA;AH9FLOAK@=KLG9F<GJK@GMD<;GFLAFM=AFL@=
KLM<Q

• =>GJ=9H9JLA;AH9FLAK<==E=<DGKLLG>GDDGOMHL@=AFN=KLA?9LGJGJ<=KA?F==EMKLE9C=
=N=JQ=>>GJLLGJ=?9AF;GFL9;LOAL@L@=H9JLA;AH9FLO@=J=HGKKA:D=L=D=H@GF=;9DDK9F<A>
F=;=KK9JQ9;=JLA>A=<D=LL=JLGL@=H9JLA;AH9FLZKD9KLCFGOFE9ADAF?9<<J=KKGJDG;9D=IMAN9D=FL
E=L@G<K
/@=K=;GFL9;L9LL=EHLKK@GMD<:=<G;ME=FL=<AFL@=H9JLA;AH9FLZKE=<A;9DJ=;GJ<

• .@GMD<L@=H9JLA;AH9FL;GFLAFM=LG:=MFJ=9;@9:D=@=K@=OADD:=;GFKA<=J=<LG@9N=
OAL@<J9OF>JGEL@=KLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/










0-2-'%05-%08&.)'7%7%&%6)(%7%&%6)
/.<9L9:9K=AK9;DAFA;9DLJA9DKM:B=;LJ=?AKLJQL@9LE9AFL9AFKL@=HJAN9;Q9F<K=;MJALQG>J=K=9J;@
KM:B=;LKO@AD=HJGNA<AF?KHGFKGJK9F<AFN=KLA?9LGJKOAL@;JM;A9DAF>GJE9LAGF9:GMLKM:B=;LK
;MJJ=FL9F<GJHJ=NAGMKKLM<QH9JLA;AH9LAGF

/.<9L9:9K=@9K:==FK@GOFLGJ=<M;=L@=FME:=JG><MHDA;9L=9F<HJG>=KKAGF9DKM:B=;LK
=FL=JAF?;DAFA;9DLJA9DK

/@=MK=G>L@AK<9L9:9K=EMKL:=HJ=K=FL=<LG9DDKM:B=;LKH9JLA;AH9LAF?AFL@AKHJGLG;GD
$>
KM:B=;LKJ=>MK=LGHJGNA<=9ML@GJAR9LAGFL@=KLM<QL=9EK@GMD<:=FGLA>A=<
LL@=LAE=G>
HJGNA<AF?L@=$F>GJE=<GFK=FL>GJL@=KLM<QL@=$FN=KLA?9LGJGJ<=KA?F==OADD=PHD9AFL@=$-	
9HHJGN=<.M:B=;L9L9:9K=ML@GJAR9LAGFLGL@=KM:B=;L9F<OALF=KKL@=KA?F9LMJ=

MJAF?K;J==FAF?KAL=KL9>>L@9L@9N=J=;=AN=<LJ9AFAF?9F<DG?AFAF>GJE9LAGFK@GMD<9;;=KK
OOO
;LK<9L9:9=
;GE9F<=FL=JL@=D9KL<A?ALKG>L@=KM:B=;LKLM<Q$9F<9ML@GJAR=<KM:B=;L
A<=FLA>A=JK
FAEE=<A9L=J=HGJL<=L9ADAF?E9L;@=KAK?=F=J9L=<9F<K@GMD<:=HJAFL=<>GJKGMJ;=
<G;ME=FL9LAGF
/@=J=HGJLOADDKH=;A>Q=AL@=JFGE9L;@=K>GMF<9E9L;@O9K>GMF<OAL@
9KM:B=;LH9JLA;AH9LAF?AF9FGL@=JKLM<QOAL@AF<9QKGJL@=KM:B=;LE9L;@=KOAL@9KM:B=;L
O@G@9K	K;J==F=<9L9FGL@=JKAL=

LL@=D9KLKM:B=;L;GFL9;L/.<9L9:9K=KL9>>OADD9MLGE9LA;9DDQ;DGK=GMLKM:B=;LK.! /GJ
GEHD=L=J:9K=<GF$2-.AF>GJE9LAGF




'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









 !"#% #"

)6'5-47-323*78(<58+

3:*78.,&8.43&164)9(8
FAFN=KLA?9LAGF9DHJG<M;L9DKGCFGOF9KAFN=KLA?9LAGF9DE=<A;AF9DHJG<M;LAFKGE=J=?AGFKAK
<=>AF=<9K>GDDGOK
H@9JE9;=MLA;9D>GJEG>9F9;LAN=KM:KL9F;=GJHD9;=:G:=AF?L=KL=<GJMK=<9K9J=>=J=F;=AF9
;DAFA;9DKLM<QAF;DM<AF?HJG<M;LK9DJ=9<QOAL@9E9JC=LAF?9ML@GJAR9LAGF:MLMK=<GJ9KK=E:D=<
>GJEMD9L=<GJH9;C9?=<AF9O9Q<A>>=J=FL>JGEL@=9ML@GJAR=<>GJEGJMK=<>GJ9F
MF9ML@GJAR=<AF<A;9LAGFGJO@=FMK=<LG?9AF>MJL@=JAF>GJE9LAGF9:GMLL@=9ML@GJAR=<>GJE

/@=AFN=KLA?9LAGF9DHJG<M;LK@GMD<:=KLGJ=<AF9K=;MJ=9J=99;;GJ<AF?LGDG;9DJ=?MD9LAGFK
$LAK
L@=J=KHGFKA:ADALQG>L@=AFN=KLA?9LGJLG=FKMJ=L@9LAFN=KLA?9LAGF9DHJG<M;LAKGFDQ<AKH=FK=<LG
KLM<QKM:B=;LK
/@=AFN=KLA?9LAGF9DHJG<M;LEMKL:=<AKH=FK=<GFDQ>JGEG>>A;A9DKLM<QKAL=K:Q
9ML@GJAR=<H=JKGFF=D9;;GJ<AF?LGDG;9DJ=?MD9LAGFK

59N=?=H9FLGJL@=E9L;@AF?HD9;=:GOADD:=HJGNA<=<AFKAF?D=MK=HL9J0.<=NA;=K>MDDQ
HJ=H9J=<9F<J=9<Q>GJ9<EAFAKLJ9LAGF
59N=?=H9FL9F<HD9;=:G9J=A<=FLA;9DAF9HH=9J9F;=

	
433:*78.,&8.43&164)9(8
*L@=JE=<A;9LAGFKMK=<9KKMHHGJLGJJ=K;M=E=<A;9LAGF>GJHJ=N=FL9LAN=<A9?FGKLA;GJ
L@=J9H=MLA;J=9KGFK9K;GEHGF=FLKG>L@=KL9F<9J<G>;9J=>GJ9?AN=F<A9?FGKAKE9Q:=
;GFKA<=J=<9KFGF	AFN=KLA?9LAGF9DHJG<M;LK

$FL@AKHJGLG;GDFGF	AFN=KLA?9LAGF9DHJG<M;LKAK9J=KL9F<9J<G>;9J=E=<A;9LAGFK>GJEA?J9AF=
LJ=9LE=FL



46291&8.43
59N=?=H9FL#1	AK>GJEMD9L=<9KE?>GJAFLJ9F9K9DKAF?D=<GK=9<EAFAKLJ9LAGFMKAF?
9FHL9J0FALGK=.QKL=E0.DAIMA<KHJ9Q<=NA;=


&(0&,.3,!-.52*38&3)!846&,*
/@=HJG<M;LKLGJ9?=E9F9?=JK@GMD<=FKMJ=L@9LL@=AFN=KLA?9LAGF9DHJG<M;LAKKLGJ=<AF
9;;GJ<9F;=OAL@L@==FNAJGFE=FL9D;GF<ALAGFKL=EH=J9LMJ=DA?@L9F<@MEA<ALQ9K<=L=JEAF=<
:QL@=KHGFKGJ
+D=9K=K==L@=;MJJ=FL$FN=KLA?9LGJJG;@MJ=>GJKH=;A>A;;GF<ALAGFK
$>;GF;=JFK
J=?9J<AF?L@=IM9DALQGJ9HH=9J9F;=G>L@=KLM<Q<JM?9JAK=<GFGL<AKH=FK=L@=KLM<Q<JM?9F<
;GFL9;LL@=.HGFKGJ-*AEE=<A9L=DQ


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/










36)%2((1-2-675%7-32
	
*8-4)4+77.,3.3,!9'/*(8)*38.+.(&8.43
/@=$FN=KLA?9LGJGJKAL=<=KA?F==OADD9;;=KK9F$FL=J9;LAN=2=:	:9K=<-=KHGFK=.QKL=E$2-.
AFGJ<=JLGJ=?AKL=J=9;@KM:B=;L
$FALA9DDQ9>L=JAF>GJE=<;GFK=FLAKG:L9AF=<9LL@=.;J==FAF?
1AKALL@=$FN=KLA?9LGJGJ<=KA?F==OADD=FL=JL@=KM:B=;LAFLGL@=KLM<Q9F<G:L9AF9KM:B=;L
FME:=J9KKA?FE=FL
$>L@=KM:B=;LAK<==E=<=DA?A:D=LGH9JLA;AH9L=AFL@=KLM<Q9LL@=9K=DAF=
NAKAL;GFL9AF=J9KKA?F=<OADD:=G:L9AF=<:QL@=$FN=KLA?9LGJGJ<=KA?F==NA9L@=$2-.KQKL=E

-9F<GEAR9LAGFOADD:=KLJ9LA>A=<:QMK=G>HJGH@QD9;LA;EA?J9AF=E=<A;9LAGFQ=KGJFGAF$2-.
9LL@=9K=DAF=NAKAL

F=OKM:B=;L$K@GMD<:=9KKA?F=<>GJ9DDJ=	K;J==FK9F<OADD:=LJ9;C=<OAL@KM:B=;LZK
HJ=NAGMKKM:B=;L$AF 9F<$2-.
.M:B=;LKE9QGFDQ:=J=	K;J==F=<GF=LAE=

.LM<Q<JM?OADD:=9KKA?F=<NA9L@=$2-.KQKL=EL@=KQKL=EOADD9KKA?FKH=;A>A;;GFL9AF=J
FME:=JK>GJ9DD:DAF<=<KLM<Q<JM?LG:=<AKH=FK=<LGL@=KM:B=;L
*F;=9;GFL9AF=J@9K:==F
9KKA?F=<AL;9FFGL:=<AKH=FK=<LG9FGL@=JKLM<QKM:B=;L
.AL=KOADD:=J=KHGFKA:D=>GJJ=;GJ<AF?
L@=;GFL9AF=JFME:=JK<AKH=FK=<LGL@=KM:B=;LGFL@=JM?;;GMFL9:ADALQ!GJEHJGNA<=<AFL@=
-=?MD9LGJQAF<=J9KO=DD9K=FKMJ=9HHJGHJA9L=<G;ME=FL9LAGFG><AKH=FK9LAGFAFL@=KM:B=;LZK
E=<A;9DJ=;GJ<

*F;=9KM:B=;L;GEHD=L=KL@=KLM<QGJA>9KM:B=;LAK<AK;GFLAFM=<=9JDQ>JGEL@=KLM<QL@=
$FN=KLA?9LGJGJ<=KA?F==EMKL9;;=KKL@=$2-.LG<G;ME=FL<AK;GFLAFM9LAGFG>L@=H9LA=FL>JGE
H9JLA;AH9LAGFAFL@=KLM<Q

		
!*1*(8.43&3)".2.3,4+47*&3))2.3.786&8.43
.LM<Q<JM?HL9J0.;GFL9AFAF?R9N=?=H9FLGJE9L;@AF?HD9;=:GOADD:=H9;C9?=<AF9
D9:=D=<;9JLGF
/@=J=9J=FG<GK=9<BMKLE=FLKAFL@AKKLM<Q9F<KM:B=;LKOADDJ=;=AN=KLM<Q<JM?
KM>>A;A=FLLGLJ=9LEA?J9AF=@=9<9;@=G>EG<=J9L=GJK=N=J=AFL=FKALQOAL@AF<9QKG>
J9F<GEAR9LAGF9K=DAF=1AKAL
.M:B=;LKOADD:=<AKH=FK=<L@=KLM<Q<JM?9LJ9F<GEAR9LAGF
9K=DAF=1AKAL9F<OADDL9C=L@=HL9J0.>JGEL@=;9JLGF9LL@=LAE=G>EG<=J9L=GJK=N=J=
EA?J9AF=@=9<9;@=GFK=L(&"'+&"%)'(#"'&&"(&!&"'-!$(#!'
"(" <=NA;=
.M:B=;LKOADD9<EAFAKL=J9KAF?D=KHJ9QG>L@=E=<A;9LAGF>JGEL@=
<=NA;=
.M:B=;LKEMKLAF>GJEL@=KLM<QKL9>>A>L@=QKF==R=A>L@=<=NA;=E9D>MF;LAGFKGJA>L@=
<=NA;=<G=KFGL<AKH=FK=9;GEHD=L=KHJ9Q

	

47*4).+.(&8.437
/@=J=OADD:=FG<GK=9<BMKLE=FLKAFL@AKKLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









	
0-2(-2+%2( 2&0-2(-2+
DAF<AF?AK;JALA;9DLGL@=AFL=?JALQG>L@AK;DAFA;9DKLM<Q
#GO=N=JAFL@==N=FLG>9E=<A;9D
=E=J?=F;QGJHJ=?F9F;QAF9FAF<ANA<M9DKM:B=;LAFO@A;@CFGOD=<?=G>L@=AFN=KLA?9LAGF9D
HJG<M;LAK;JALA;9DLGL@=KM:B=;LZKE9F9?=E=FLL@=:DAF<>GJL@9LKM:B=;LE9Q:=:JGC=F:QL@=
LJ=9LAF?H@QKA;A9F

=>GJ=:J=9CAF?L@=:DAF<G>9FAF<ANA<M9DKM:B=;LZKLJ=9LE=FLL@=$FN=KLA?9LGJK@GMD<@9N=
<=L=JEAF=<L@9LL@=AF>GJE9LAGFAKF=;=KK9JQA
=
L@9LALOADD9DL=JL@=KM:B=;LZKAEE=<A9L=
E9F9?=E=FL
$FE9FQ;9K=KH9JLA;MD9JDQO@=FL@==E=J?=F;QAK;D=9JDQFGLAFN=KLA?9LAGF9D
HJG<M;LJ=D9L=<L@=HJG:D=EE9Q:=HJGH=JDQE9F9?=<:Q9KKMEAF?L@9LL@=KM:B=;LAKJ=;=ANAF?
9;LAN=HJG<M;LOAL@GMLL@=F==<>GJMF:DAF<AF?

$F;9K=KG>9;;A<=FL9DMF:DAF<AF?;GFL9;LL@=(=<A;9D(GFALGJ9F<=FKMJ==N=JQ9LL=EHLAKE9<=
LGHJ=K=JN=L@=:DAF<>GJJ=E9AFAF?KAL=H=JKGFF=D



5)%71)273140-%2')
-=KHGFKA:D=KLM<QH=JKGFF=DOADD<AKH=FK=L@=KLM<Q<JM?
;;GMFL9:ADALQ9F<;GEHDA9F;=
N=JA>A;9LAGFK@GMD<:=<G;ME=FL=<AFL@=KM:B=;LZKKLM<QJ=;GJ<K

.M:B=;LK@9N=LG:=;GMFK=D=<GFL@=AEHGJL9F;=G>L9CAF?L@=KLM<Q<JM?9K<AJ=;L=<O@=F9
EA?J9AF=G;;MJK9F<J=9;@=KEG<=J9L=GJK=N=J=AFL=FKALQ
$>L@=KM:B=;L<G=KFGL@9N=9
IM9DA>QAF?EA?J9AF=GJL9C=L@=AJKLM<Q<JM?OAL@AF<9QKG>L@=9K=DAF=1AKALL@=QK@GMD<
J=LMJFLGL@=;DAFA;>GJL@=AJ */1AKAL9F<J=LMJFL@=AJKLM<Q<JM?


)6758'7-32%2()78523*78(<58+
DDMFMK=<9F<GJH9JLA9DDQMK=<KLM<Q<JM?;9F:=K=FL:9;CLGL@=<JM?<=HGL>GJ<=KLJM;LAGF
GFDQ9>L=J:=AF?AFKH=;L=<9F<J=;GF;AD=<:QL@=J=KHGFKA:D=.LM<QEGFALGJGJL@=KHGFKGJZK
<=KA?F==
$>ALAKKAL=HGDA;QLG<=KLJGQKLM<Q<JM?GFKAL=ALAKL@=$FN=KLA?9LGJZKJ=KHGFKA:ADALQLG
=FKMJ=L@9L9JJ9F?=E=FLK@9N=:==FE9<=>GJL@=<AKHGK9DHJG;=<MJ=K>GJHJGH=J<AKHGK9D@9N=
:==F=KL9:DAK@=<9;;GJ<AF?LGL@=9HHDA;9:D=J=?MD9LAGFK?MA<=DAF=K9F<AFKLALMLAGF9DHJG;=<MJ=K
9F<9HHJGHJA9L=J=;GJ<KG>L@=<AKHGK9D@9N=:==F<G;ME=FL=<
/@=MFMK=<KLM<Q<JM?K;9FGFDQ
:=<=KLJGQ=<9>L=J:=AF?AFKH=;L=<9F<J=;GF;AD=<:QL@=J=KHGFKA:D=.LM<Q(GFALGJGJL@=
.HGFKGJZK<=KA?F==




'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 $ !$"!
F9<N=JK==N=FL AK<=>AF=<9K9FQF=OMFLGO9J<E=<A;9DG;;MJJ=F;=GJOGJK=FAF?G>9
HJ=	=PAKLAF?E=<A;9D;GF<ALAGFAF9KM:B=;LGJ;DAFA;9DAFN=KLA?9LAGFKM:B=;L9<EAFAKL=J=<9F
AFN=KLA?9LAGF9DE=<A;AF9DHJG<M;L9F<L@9L<G=KFGLF=;=KK9JADQ@9N=9;9MK9DJ=D9LAGFK@AHOAL@
L@AKLJ=9LE=FL
F ;9FL@=J=>GJ=:=9FQMF>9NGJ9:D=9F<MFAFL=F<=<KA?FAF;DM<AF?9F
9:FGJE9DD9:GJ9LGJQ>AF<AF?>GJ=P9EHD=KQEHLGEGJ<AK=9K=L=EHGJ9DDQ9KKG;A9L=<OAL@L@=
MK=G>L@=AFN=KLA?9LAGF9DHJG<M;LO@=L@=JGJFGL;GFKA<=J=<J=D9L=<LGL@=AFN=KLA?9LAGF9D
HJG<M;L

<N=JK==N=FLK;9F:=KHGFL9F=GMKDQJ=HGJL=<GJ=DA;AL=<<MJAF?9FGH=F	=F<=<IM=KLAGFAF?
=P9EAF9LAGFGJ=N9DM9LAGFG>9KM:B=;L
$FGJ<=JLGHJ=N=FLJ=HGJLAF?:A9KKM:B=;LKK@GMD<FGL:=
IM=KLAGF=<J=?9J<AF?L@=KH=;A>A;G;;MJJ=F;=G>GJEGJ= K

$>9KH=;A>A;<A9?FGKAKGJKQF<JGE=AKA<=FLA>A=<:QL@=$FN=KLA?9LGJL@AKK@GMD<:=J=;GJ<=<9K
L@= J9L@=JL@9FJ=;GJ<AF?9KK=H9J9L= KL@=AF<ANA<M9DKA?FKKQEHLGEKGJ;DAFA;9DDQ
KA?FA>A;9FLD9:GJ9LGJQ9:FGJE9DALA=KCFGOFLG:=9KKG;A9L=<OAL@9F<;GFKA<=J=<:QL@=
$FN=KLA?9LGJLG:=9;GEHGF=FLG>L@=<AK=9K=KQF<JGE=

/@=J=9J=LOGLQH=KG>9<N=JK==N=FLK.=JAGMK<N=JK= N=FLK. 9F<)GF	.=JAGMK<N=JK=
 N=FLK K


 !!

*+.3.8.434+!*6.497):*67*:*38!
F. AK9FQ=N=FLL@9LE==LK9FQG>L@=>GDDGOAF?;JAL=JA99L9FQ<GK=
• =9L@
• 'A>=	L@J=9L=FAF?
• $FH9LA=FL@GKHAL9DAR9LAGFGJHJGDGF?9LAGFG>=PAKLAF?@GKHAL9DAR9LAGF
• +=JKAKL=FLGJKA?FA>A;9FL<AK9:ADALQAF;9H9;ALQ
• GF?=FAL9D9FGE9DQ:AJL@<=>=;LAFL@=G>>KHJAF?G>9KM:B=;LO@GJ=;=AN=<KLM<Q<JM?
• *L@=J$EHGJL9FLE=<A;9D=N=FLKL@9LE9QFGLJ=KMDLAF<=9L@:=DA>=	L@J=9L=FAF?GJJ=IMAJ=
@GKHAL9DAR9LAGFE9Q:=;GFKA<=J=<9F. O@=F:9K=<MHGF9HHJGHJA9L=E=<A;9DBM<?E=FL
L@=QE9QB=GH9J<AR=L@=KM:B=;L9F<E9QJ=IMAJ=E=<A;9DGJKMJ?A;9DAFL=JN=FLAGFLGHJ=N=FL
GF=G>L@=GML;GE=KDAKL=<AFL@AK<=>AFALAGF
 P9EHD=KG>KM;@=N=FLK9J=:MLFGLDAEAL=<LG
 $FL=FKAN=LJ=9LE=FLAF9F=E=J?=F;QJGGEGJ9L@GE=>GJ9DD=J?A;:JGF;@GKH9KE

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 DGG<<QK;J9KA9KGJ;GFNMDKAGFKL@9L<GFGLJ=KMDLAFAFH9LA=FL@GKHAL9DAR9LAGF
 =N=DGHE=FLG><JM?<=H=F<=F;QGJ<JM?9:MK=
 +GL=FLA9D<JM?AF<M;=<DAN=JAFBMJQK==.=;LAGF


 :MK=GJGN=J<GK=G>E=<A;9LAGF

+GL=FLA9DKLM<Q<JM?9:MK=AF;DM<AF?;9K=KG>=P;=KKAN=FGF	;GEHDA9F;=OAL@KLM<Q
<JM?<GKAF?AFKLJM;LAGFKGJKM:B=;LKO@G<AK;GFLAFM=LJ=9LE=FLOAL@GMLJ=LMJFAF?
KLM<Q<JM?K@GMD<:=<G;ME=FL=<AFL@=KGMJ;=J=;GJ<9F<J=HGJL=<9K9F GJ. 
9K9HHJGHJA9L=
$FN=KLA?9LGJKEMKLEGFALGJKM:B=;LK>GJHGKKA:D=;9K=KG>9:MK=G>
KLM<Q<JM?KM:B=;LKL9CAF?KLM<Q<JM?>GJFGF	L@=J9H=MLA;HMJHGK=K=
?
>GJ
HKQ;@G9;LAN==>>=;LKKM;@9K@A?@GJ=MH@GJA9
$FN=KLA?9LGJKK@GMD<G:L9AFEGJ=
AF>GJE9LAGF9F<=PHD9F9LAGF>JGEKM:B=;LKO@=FL@=J=9J=KLM<Q<JM?9;;GMFL9:ADALQ
<AK;J=H9F;A=K


+GL=FLA9DKLM<Q<JM?GN=J<GK=AK<=>AF=<AF.=;LAGF


01494?4:9:1%0=8>L@=:=DGO9HHDA=KLG:GL@FGF	K=JAGMK K9F<. K

(AD<$KMKM9DDQLJ9FKA=FL9F<E9QJ=IMAJ=GFDQEAFAE9DLJ=9LE=FLGJL@=J9H=MLA;
AFL=JN=FLAGF
/@==N=FL<G=KFGL?=F=J9DDQAFL=J>=J=OAL@MKM9D9;LANALA=KG><9ADQDANAF?

(G<=J9L=$KMKM9DDQ9DD=NA9L=<OAL@9<<ALAGF9DKH=;A>A;L@=J9H=MLA;AFL=JN=FLAGF
/@==N=FL
AFL=J>=J=KOAL@MKM9D9;LANALA=KG><9ADQDANAF?;9MKAF?<AK;GE>GJL:MLHGK=KFGKA?FA>A;9FLGJ
H=JE9F=FLJAKCG>@9JELGL@=KM:B=;L

.=N=J=$FL=JJMHLKMKM9D9;LANALA=KG><9ADQDANAF?KA?FA>A;9FLDQ9>>=;LK;DAFA;9DKL9LMKGJE9Q
J=IMAJ=AFL=FKAN=L@=J9H=MLA;AFL=JN=FLAGF

'A>=L@J=9L=FAF?F AKDA>=L@J=9L=FAF?A>L@=KM:B=;LO9K9LAEE=<A9L=JAKCG><=9L@>JGEL@=
=N=FL9KALG;;MJJ=<A
=
AL<G=KFGLAF;DM<=9J=9;LAGFL@9LA>AL@9<G;;MJJ=<AF9EGJ=K=JAGMK
>GJEEA?@L@9N=;9MK=<<=9L@
!GJ=P9EHD=<JM?AF<M;=<@=H9LALAKL@9LJ=KGDN=<OAL@GML
=NA<=F;=G>@=H9LA;>9ADMJ=OGMD<FGL:=;GFKA<=J=<DA>=L@J=9L=FAF?=N=FL@GM?@<JM?AF<M;=<
@=H9LALAK;9F:=>9L9D

#GKHAL9DAR9LAGF KJ=IMAJAF?@GKHAL9DAR9LAGFK@GMD<:=;GFKA<=J=<. K
#GKHAL9DAR9LAGF>GJ
=D=;LAN=KMJ?=JQGJJGMLAF=;DAFA;9DHJG;=<MJ=KL@9L9J=FGLL@=J=KMDLG> =
?
=D=;LAN=KMJ?=JQ
>GJ9HJ=	=PAKLAF?;GF<ALAGFL@9L@9KFGLOGJK=F=<F==<FGL:=;GFKA<=J=< KGJ. K
$>
9FQL@AF?MFLGO9J<AKJ=HGJL=<<MJAF?L@=HJG;=<MJ=L@9LG;;MJJ=F;=EMKL:=J=HGJL=<9K9F 
=AL@=JK=JAGMKGJFGF	K=JAGMK9;;GJ<AF?LGL@=MKM9D;JAL=JA9


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









$F?=F=J9D@GKHAL9DAR9LAGFKA?FA>A=KL@9LL@=KM:B=;L@9K:==F<=L9AF=<MKM9DDQAFNGDNAF?9LD=9KL
9FGN=JFA?@LKL9Q9LL@=@GKHAL9DGJ=E=J?=F;QO9J<>GJG:K=JN9LAGF9F<GJLJ=9LE=FLL@9LOGMD<
FGL@9N=:==F9HHJGHJA9L=AFL@=H@QKA;A9FKG>>A;=GJGMLH9LA=FLK=LLAF?
2@=FAF<GM:L9KLG
O@=L@=J@GKHAL9DAR9LAGFG;;MJJ=<GJO9KF=;=KK9JQL@= K@GMD<:=;GFKA<=J=<K=JAGMK

/@=>GDDGOAF?@GKHAL9DAR9LAGFK9J=FGL;GFKA<=J=<. KAFL@AKAG@9N=F;DAFA;9DKLM<Q:MLE9Q
:=;GFKA<=J=<FGF	K=JAGMK K
• NAKALLGL@==E=J?=F;QJGGEGJGL@=J@GKHAL9D<=H9JLE=FL@GMJKL@9L<G=KFGLJ=KMDLAF
9F9<EAKKAGFMFD=KK;GFKA<=J=<XAEHGJL9FLE=<A;9D=N=FLYGJ=N=FLL@9LAKDA>=L@J=9L=FAF?
•  D=;LAN=KMJ?=JQHD9FF=<HJAGJLGKA?FAF?;GFK=FL
• <EAKKAGFK9KH=JHJGLG;GD>GJ9HD9FF=<E=<A;9DKMJ?A;9DHJG;=<MJ=
• -GMLAF=@=9DL@9KK=KKE=FLJ=IMAJAF?9<EAKKAGFA
=
JGMLAF=;GDGFGK;GHQ
• <EAKKAGF=F;GMFL=J=<>GJ9FGL@=JDA>=;AJ;MEKL9F;=L@9L;9JJA=KFG:=9JAF?GF@=9DL@9F<
J=IMAJ=KFGE=<A;9DAFL=JN=FLAGFA
=
D9;CG>@GMKAF?;9J=	?AN=JJ=KHAL=>9EADQ
;AJ;MEKL9F;=K

AK9:ADALQAF;9H9;AL9LAF?F AKAF;9H9;AL9LAF?GJ<AK9:DAF?A>L@==PH=JA=F;=J=KMDLKAF9
KM:KL9FLA9D9F<GJH=JE9F=FL<AKJMHLAGFG>L@=KM:B=;LK9:ADALQLG;9JJQGMLFGJE9DDA>=>MF;LAGFK

	
77*772*38+46*8*62.3.3, *1&8.437-.54+84!89)=69,
/@=J=D9L=<F=KKG>=9;@ LGKLM<Q<JM?EMKL:=;D9KKA>A=<:9K=<GFE=<A;9DBM<?=E=FL9F<
9;;GJ<AF?LGL@=>GDDGOAF?;9L=?GJA=K
/@=<=>AFALAGFK9J=9K>GDDGOK
-=D9L=</@AK;9L=?GJQ9HHDA=KLG KL@9L9J=;GFKA<=J=<OAL@9@A?@<=?J==G>;=JL9AFLQLG:=
J=D9L=<LGL@=KLM<Q<JM?
F E9Q:=;GFKA<=J=<J=D9L=<O@=FAL>GDDGOK9L=EHGJ9DK=IM=F;=
>JGEL@=9<EAFAKLJ9LAGFG>KLM<Q<JM?AL;9FFGLJ=9KGF9:DQ:==PHD9AF=<:QL@=CFGOF
;@9J9;L=JAKLA;KG>L@=KM:B=;LZK;DAFA;9DKL9L==FNAJGFE=FLGJLGPA;>9;LGJKGJGL@=JEG<=KG>
L@=J9HQ9<EAFAKL=J=<LGL@=KM:B=;L
F E9Q:=;GFKA<=J=<J=D9L=<O@=FAL>GDDGOK9CFGOF
H9LL=JFG>J=KHGFK=LGL@=KLM<Q<JM?GJA>L@= J=9HH=9JKMHGFJ=	;@9DD=F?=

+GKKA:DQJ=D9L=<FGF	K=JAGMK KGFDQ/@AK;9L=?GJQ9HHDA=KLG KL@9L9J=;GFKA<=J=<LG@9N=
9FMFDAC=DQ;GFF=;LAGFLGKLM<Q<JM?:ML9J=D9LAGFK@AH;9FFGL:=JMD=<GMLOAL@;=JL9AFLQ

0FDAC=DQJ=D9L=<FGF	K=JAGMK KGFDQ/@AK;9L=?GJQ9HHDA=KLG KL@9L<GFGL>GDDGO9
J=9KGF9:D=L=EHGJ9DK=IM=F;=>JGEL@=9<EAFAKLJ9LAGFG>L@=KLM<Q<JM?
/@= E9QJ=9<ADQ
@9N=:==FHJG<M;=<:QL@=KM:B=;LZK;DAFA;9DKL9L==FNAJGFE=FL9DGJLGPA;>9;LGJKGJGL@=JEG<=K
G>L@=J9HQ9<EAFAKL=J=<LGL@=KM:B=;L


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









0FJ=D9L=</@AK;9L=?GJQ9HHDA=KLG KL@9L9J=;GFKA<=J=<OAL@9@A?@<=?J==G>;=JL9AFLQLG:=
<M=GFDQLG=PLJ9F=GMK;9MK=K=
?
KM:B=;LZK;DAFA;9DKL9L==FNAJGFE=FLLGPA;>9;LGJK<AK=9K=
MF<=JKLM<Q=L;
9F<<G=KFGLE==LL@=;JAL=JA9G>GL@=J;9L=?GJA=K9:GN=



411*(8.43&3) *5468.3,!*6.497):*67*:*387
!GDDGOAF?L@=KM:B=;LZKOJALL=F;GFK=FLLGH9JLA;AH9L=AFL@=KLM<Q9DD. KO@=L@=JJ=D9L=<GJ
FGLJ=D9L=<LGKLM<Q<JM?EMKL:=;GDD=;L=<AF;DM<AF?L@GK=L@GM?@LLG:=9KKG;A9L=<OAL@
HJGLG;GD	KH=;A>A;HJG;=<MJ=K
DD. KEMKL:=;GDD=;L=<L@9LG;;MJ<MJAF?L@=K;J==FAF?H=JAG<
9F<L@JGM?@GMLL@=;GMJK=G>L@=KLM<QMHLG9F<AF;DM<AF?L@=<9QK9>L=J<GK=
/@=
AFN=KLA?9LGJK@GMD<J=HGJL9FQ. G;;MJJAF?9>L=JL@AKLAE=H=JAG<L@9LAK:=DA=N=<LG:=J=D9L=<
LGKLM<Q<JM?GJHJGLG;GD	KH=;A>A;HJG;=<MJ=K

DD. KK@GMD<:=>GDDGO=<LGJ=KGDMLAGFGJKL9:ADAR9LAGF

F. J=HGJLK@GMD<:=;GEHD=L=<>GJ9FQ=N=FLO@=J=<GM:L=PAKLKJ=?9J<AF?ALKKL9LMKG>
K=JAGMKF=KK

$>L@=AFN=KLA?9LGJ:=DA=N=KL@9L9F. AKFGLJ=D9L=<LGL@=KLM<Q<JM?:MLAKHGL=FLA9DDQJ=D9L=<
LGL@=;GF<ALAGFKG>L@=KLM<QKM;@9K9OAL@<J9O9DG>HJ=NAGMKL@=J9HQGJ9;GEHDA;9LAGFJ=D9L=<
LGKLM<QHJG;=<MJ=L@=J=D9LAGFK@AHK@GMD<:=KH=;A>A=<AFL@=F9JJ9LAN=K=;LAGFG>L@=. 
-=HGJL!GJE

. KO@=L@=JJ=D9L=<GJFGLJ=D9L=<LGKLM<Q<JM?GN=J<GK=K==.=;LAGF

HGL=FLA9D<JM?
AF<M;=<DAN=JAFBMJQK==.=;LAGF

9F<HJ=?F9F;A=KK==.=;LAGF

EMKL:=J=HGJL=<
OAL@AF@GMJKG>L@=$FN=KLA?9LGJ:=;GEAF?9O9J=G>L@==N=FL
$FL@AKKLM<Q. K9J=J=HGJL=<
AFL@= 9F<GFL@=. >GJE

/@=$FN=KLA?9LGJAKJ=KHGFKA:D=>GJJ=HGJLAF?9DD. K9F<9DD*L@=J$EHGJL9FL(=<A;9D N=FLKLG
OAL@AF@GMJKG>D=9JFAF?G>L@==N=FL

OADDL@=FAEE=<A9L=DQFGLA>QL@=AG@9N=F
(=<A;9D(GFALGJG>L@==N=FL
/@=$FN=KLA?9LGJAKJ=KHGFKA:D=>GJKM:EALLAF?9DD9HHDA;9:D==N=FLK
LGL@=$F<=H=F<=FL-=NA=OG9J<$-9KH=JL@=$-ZKJ=HGJLAF?J=IMAJ=E=FLK
<<ALAGF9DDQ
L@=$FN=KLA?9LGJGJ<=KA?F9L=<KL9>>AKJ=KHGFKA:D=>GJ=FL=JAF?L@=. AF>GJE9LAGFAFL@=
 D=;LJGFA;9L99HLMJ= KQKL=EA
=
=N=FLL=JEKL9JLKLGH<9L=K;9MK9DALQAFL=FKALQ

FQ. EMKL:=J=HGJL=<AEE=<A9L=DQGJFGD9L=JL@9F@GMJK9>L=J9O9J=F=KKG>L@==N=FLLG
OJALL=F<=K;JAHLAGFG>9FQ. MKAF?L@=
. J=HGJL
>GJEEMKL:=K=FLLG
:Q>9;KAEAD=>9PO@A;@AKL@=HJ=>=JJ=<E=L@G<G>KM:EAKKAGF
OAL@AF@GMJK9>L=J9O9J=F=KKG>L@==N=FL
• )GJL@E=JA;9	

$>9>GJEAKMF9:D=LG:=KM:EALL=<OAL@AF@GMJKL@=. E9Q:=J=HGJL=<:QL=D=H@GF=NA9
L@=.9>=LQ#GLDAF=)ME:=J
• )GJL@E=JA;9W

CCI
CCI
CCI
CCI
CCI
PPD
PPD

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









$>GFDQDAEAL=<AF>GJE9LAGFAKAFALA9DDQ9N9AD9:D=>GDDGO	MHJ=HGJLK9J=J=IMAJ=<
$>9FGF?GAF?
. ;@9F?=KAFALKAFL=FKALQGJJ=D9LAGFK@AHLGKLM<Q<JM?GJA>F=OAF>GJE9LAGF:=;GE=K
9N9AD9:D=9>GDDGO	MH. J=HGJLK@GMD<:=K=FLOAL@AF@GMJKG>L@=$FN=KLA?9LGJ:=;GEAF?
9O9J=G>L@=MH<9L=<AF>GJE9LAGFMKAF?L@=K9E=HJG;=<MJ=MK=<>GJL@=LJ9FKEAKKAGFG>L@=
AFALA9D. 9F<L@=K9E==N=FLL=JEK@GMD<:=MK=<

/@=EAFAEMEAF>GJE9LAGFJ=IMAJ=<>GJ9FAFALA9D. J=HGJLAK
.=F<=JG>J=HGJL.AL=FME:=J$FN=KLA?9LGJF9E=
.M:B=;LA<=FLA>A;9LAGFKM:B=;LFME:=J
+JGLG;GDFME:=J
. L=JEA>9F. AK:=AF?J=HGJL=<

:*6)47*
FGN=J<GK=AK<=>AF=<9KL@=9;;A<=FL9DGJAFL=FLAGF9D9<EAFAKLJ9LAGFG>9FQ<GK=G>9
HJG<M;LL@9LAK;GFKA<=J=<0C.0>>4A09F<80/4.,77D48;:=?,9?

DDG;;MJJ=F;=KG>E=<A;9DDQKA?FA>A;9FLGN=J<GK=KMKH=;L=<GJ;GF>AJE=<9F<AJJ=KH=;LAN=G>
O@=L@=JALAFNGDN=<R9N=?=H9FLEMKL:=;GEEMFA;9L=<LGAG@9N=FGJ9KH=;A>A=<<=KA?F==
OAL@AF@GMJK9F<:=>MDDQ<G;ME=FL=<9K9F. 
=L9ADKG>9FQKA?FKGJKQEHLGEK9F<L@=AJ
E9F9?=E=FLK@GMD<:=J=;GJ<=<AF;DM<AF?<=L9ADKG>9FQLJ=9LE=FLK9<EAFAKL=J=<

KQEHLGE9LA;<GKAF?=JJGJKK@GMD<:=J=HGJL=<9K<=NA9LAGFK


47*2.7&)2.3.786&8.43&3)58&6#!2&1+93(8.43
DDG;;MJJ=F;=KG><GK=EAK9<EAFAKLJ9LAGFGJHL9J0.E9D>MF;LAGFK@GMD<:=;GEEMFA;9L=<
LGAG@9N=FGJ9KH=;A>A=<<=KA?F==9KKGGF9KHGKKA:D=

&9/0=9:.4=.@8>?,9.08,D,>@-50.?-0,>>4290/,>0.:9//:>0:1>?@/D80/4.,?4:9

6*,3&3(=
$>>GDDGOAF?L@=:9K=DAF=NAKALALAKKM:K=IM=FLDQ<AK;GN=J=<L@9L9KLM<QKM:B=;LAKHJ=?F9FLGJ
E9Q@9N=:==FHJ=?F9FL9LL@=LAE=G>L@=AFN=KLA?9LAGF9DHJG<M;L=PHGKMJ=AF;DM<AF?<MJAF?9L
D=9KL@9D>	DAN=K9>L=JL@=HJG<M;L9<EAFAKLJ9LAGFL@=AFN=KLA?9LAGF9DHJG<M;LOADD:=H=JE9F=FLDQ
<AK;GFLAFM=<AF9F9HHJGHJA9L=E9FF=JA
=
<GK=L9H=JAF?A>F=;=KK9JQ>GJKM:B=;LK9>=LQ

+JGLG;GD	J=IMAJ=<HJG;=<MJ=K>GJKLM<Q<AK;GFLAFM9LAGF9F<>GDDGO	MHEMKL:=H=J>GJE=<GFL@=
KM:B=;LMFD=KK;GFLJ9AF<A;9L=<:QL@=HJ=?F9F;QA
=
P	J9QKLM<A=K
*L@=J9HHJGHJA9L=
HJ=?F9F;Q>GDDGO	MHHJG;=<MJ=KK@GMD<:=;GFKA<=J=<A>AF<A;9L=<


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









.AL=KK@GMD<AFKLJM;LH9LA=FLKLG;GFL9;LL@=$FN=KLA?9LGJA>L@=Q:=;GE=HJ=?F9FL<MJAF?L@=
;GMJK=G>L@=KLM<Q
/@=AFN=KLA?9LGJEMKLAEE=<A9L=DQFGLA>QL@=AG@9N=FGJ<=KA?F==
(=<A;9D(GFALGJ9F<
G>L@==N=FL9F<;GEHD=L=L@=+J=?F9F;Q!GJEAF9;;GJ<9F;=OAL@
. J=HGJLAF?HJG;=<MJ=K9K<=K;JA:=<AF.=;LAGF


/@=HJ=?F9F;QK@GMD<:=J=HGJL=<MKAF?
H9H=J>GJEKO@A;@K@GMD<:=>9P=<LG
:Q>9;KAEAD=>9PO@A;@AKL@=HJ=>=JJ=<
E=L@G<G>KM:EAKKAGFOAL@AF@GMJK9>L=J$FN=KLA?9LGJKAL=9O9J=F=KKG>L@==N=FL
• )GJL@E=JA;9	

*JA>L@=>GJE;9FFGL:=>9P=<GJ=E9AD=<
KM:B=;LDAF=EMKLAF;DM<=
X4:3,A09!=:?:.:7'	YJ=HGJL=<NA9H@GF=LGL@=
.9>=LQ#GLDAF=9L)GJL@
E=JA;9
GJ 0 ( 

*F;=L@=H9H=J>GJEAK9N9AD9:D=L@=<9L9EMKL:=J=HGJL=<H=JKL9F<9J<HJG;=<MJ=K

!GDDGO	MHAF>GJE9LAGFJ=?9J<AF?L@=;GMJK=G>L@=HJ=?F9F;QAF;DM<AF?H=JAF9L9D9F<F=GF9L9D
GML;GE=9F<O@=J=9HHDA;9:D=G>>KHJAF?AF>GJE9LAGFEMKL9DKG:=J=HGJL=<GF9+J=?F9F;Q
-=HGJL!GJE

FQHJ=?F9F;QL@9LG;;MJKAF9>=E9D=H9JLF=JG>9E9D=KLM<QH9JLA;AH9FLK@GMD<:=J=HGJL=<LG
L@=KHGFKGJ

$F>GJE9LAGFGFL@AKHJ=?F9F;QOADD:=;GDD=;L=<GFL@=+J=?F9F;Q-=HGJL
!GJE9K9HHJGHJA9L=


48*38.&169,3)9(*).:*63/96=
2@=J=N=JHGKKA:D=LAE=DQ;GF>AJE9LAGFG>L@=AFALA9DDAN=J	J=D9L=<D9:GJ9LGJQ9:FGJE9DALA=K
K@GMD<G;;MJHJAGJLGL@=J=HGJLAF?G>9HGL=FLA9D$'$=N=FL
DDG;;MJJ=F;=KG>HGL=FLA9D$'$K
E==LAF?L@=<=>AF=<;JAL=JA9EMKL:=J=HGJL=<9K. K9KH=J.=;LAGF



+GL=FLA9D<JM?AF<M;=<DAN=JAFBMJQAK<=>AF=<9K

 EAFGLJ9FK>=J9K=K/'/GJ./=D=N9LAGFLAE=KL@=MHH=JDAEALG>FGJE9D
0')


 /GL9D:ADAJM:AF/'LAE=K0')OAL@GMLAFALA9D>AF<AF?KG>;@GD=KL9KAK=D=N9L=<
K=JME9DC9DAF=H@GKH@9L9K=


 )GGL@=JAEE=<A9L=DQ9HH9J=FLHGKKA:D=;9MK=KG>'/GJ./=D=N9LAGF9F<
@QH=J:ADAJM:AF=EA9AF;DM<AF?:MLFGLDAEAL=<LGNAJ9D@=H9LALAKHJ=	=PAKLAF?;@JGFA;GJ
9;ML=DAN=J<AK=9K=GJL@=9<EAFAKLJ9LAGFG>GL@=J<JM?KCFGOFLG:=@=H9LGLGPA;

CCI
CCI
PPD
PPD
CCI
PPD
PPD
CCI

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









$>9FQHGL=FLA9D$'$AKA<=FLA>A=<9F<E==LKL@=;JAL=JA99:GN=L@=AG@9N=F(=<A;9D(GFALGJ
GJ<=KA?F==K@GMD<AEE=<A9L=DQ:=;GFL9;L=<>GJ>MJL@=JAFKLJM;LAGF9F<O@=L@=JL@=KM:B=;L
EMKL<AK;GFLAFM=>JGEL@=LJA9D9F<9HHJGHJA9L=>GDDGOMHJ=IMAJ=E=FLK


(9)56)9)2763*4)'-%027)5)67
	
437*6.497):*67*:*387
"#"'&#)'AK9F FGL;D9KKA>A=<9KK=JAGMK


		
-**$"1(-, ,#$.-/1(,&-%-,$/(-20#3$/0$3$,10
/@=;GDD=;LAGFG>FGF	K=JAGMK AF>GJE9LAGFK@GMD<:=?AF9LL@=9K=DAF=1AKALL@JGM?@L@=
 */1AKAL

)GF	K=JAGMK KK@GMD<:=>GDDGO=<MFLAD;GF;DMKAGFGJKL9:ADAR9LAGFGJJ=HGJL=<9K. KA>
L@=Q:=;GE=K=JAGMK
!GDDGO	MHAK9DKGJ=IMAJ=<>GJFGF	K=JAGMK KL@9L;9MK=AFL=JJMHLAGFGJ
<AK;GFLAFM9LAGFG>KLM<Q<JM?GJL@GK=L@9L9J=HJ=K=FL9LL@==F<G>KLM<QLJ=9LE=FL

		
&'46&846="*78'3462&1.8.*7
/@=>GDDGOAF?D9:GJ9LGJQL=KL9:FGJE9DALA=KK@GMD<:=;9HLMJ=<GFL@=FGF	K=JAGMK -!H9?=
GJ. -=HGJL!GJEH9H=JGJ=D=;LJGFA;9K9HHJGHJA9L=

 FQD9:GJ9LGJQL=KLJ=KMDLL@9LAK;DAFA;9DDQKA?FA>A;9FLGJE==LKL@=<=>AFALAGFG>9F. 

 FQD9:GJ9LGJQ9:FGJE9DALQL@9LJ=IMAJ=<L@=KM:B=;LLG@9N=L@=KLM<Q<JM?<AK;GFLAFM=<GJ
AFL=JJMHL=<

 FQD9:GJ9LGJQ9:FGJE9DALQL@9LJ=IMAJ=<L@=KM:B=;LLGJ=;=AN=KH=;A>A;;GJJ=;LAN=L@=J9HQ


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/









 !""!"!

%140)-=)
$LAK9FLA;AH9L=<L@9L9:GMLG>L@=KM:B=;LKJ9F<GEAR=<LG=9;@LJ=9LE=FL?JGMHOADD@9N=
9@=9<9;@=AFL@=9DDGLL=<LAE=H=JAG<J=KMDLAF?AF9HHJGPAE9L=DQKM:B=;LK=N9DM9:D=>GJ
=>>A;9;QAF=9;@LJ=9LE=FL?JGMH

/@=K9EHD=KAR=;9D;MD9LAGFAK:9K=<GFJ=KMDLK>JGEL@=+@9K=<GK=	J9F?AF?KLM<Q#1	

/@=J=KHGFK=J9L=K>GJL@=HGGD=<R9N=?=H9FLE?9F<E??JGMHK9F<>GJL@=HD9;=:G
?JGMHAFKLM<Q#1	O=J=
9F<
J=KH=;LAN=DQ>GJH9AF>J==<GE9L@GMJK
HGKL<GK=9F<
9F<
J=KH=;LAN=DQ>GJ(.>J==<GE9L@GMJKHGKL<GK=

LGL9DK9EHD=KAR=G>=N9DM9:D=KM:B=;LKH=J?JGMHOADDHJGNA<=9HHJGPAE9L=DQ
HGO=J>GJL@=;G	HJAE9JQ=F<HGAFLG>H9AF>J==<GE9L@GMJKHGKL<GK=9HHJGPAE9L=DQ
HGO=J>GJL@=;G	HJAE9JQ=F<HGAFLG>(.>J==<GE9L@GMJKHGKL<GK=9F<9HHJGPAE9L=DQ
HGO=JLG<=L=;L9<A>>=J=F;=:=LO==FLJ=9LE=FL?JGMHK>GJ:GL@=F<HGAFLKBGAFLDQ


2%0<6-6)76
•  FJGDD=<.M:B=;LKO@GKA?FAF>GJE=<;GFK=FL9F<9J=9KKA?F=<9KM:B=;LA<=FLA>A;9LAGF
FME:=J

•
-9F<GEAR=<.M:B=;LKAFL@==FJGDD=<9F9DQKAKK=LO@GJ=;=AN=9J9F<GEAR=<LJ=9LE=FL?JGMH
9KKA?FE=FLR9N=?=H9FLGJHD9;=:G>JGE$2-.

•
.9>=LQ.M:B=;LKAFL@==FJGDD=<9F9DQKAKK=LO@GL9C=KLM<Q<JM?R9N=?=H9FLGJHD9;=:G

•
 >>A;9;Q.M:B=;LKAFL@=J9F<GEAR=<9F9DQKAKK=LO@G9J=J9F<GEAR=<GFDQGF;=@9N=
9EA?J9AF=G>EG<=J9L=GJK=N=J=H9AFAFL=FKALQ9LL@=LAE=G><GKAF?L9C=KLM<Q<JM?9F<
 @9N= HGKL<GK= =>>A;9;Q <9L9 A
=
 FGF	EAKKAF? H9AF AFL=FKALQ H@GFGH@G:A9 KL9LMK
H@GLGH@G:A9KL9LMKF9MK=9KL9LMKGJ>MF;LAGF9D<AK9:ADALQD=N=D9>L=JL9CAF?KLM<Q<JM?

	
7%7-67-'%0)7,3(6
GEHD=L=<=L9ADKGFL@=KL9LAKLA;9DE=L@G<KE9Q:=>GMF<L@=.L9LAKLA;9DF9DQKAK+D9F.+



++.(&(=3&1=7*7
/@=AFL=J;MJJ=FL=N=FLG>J=K;M=E=<A;9LAGFMK=OADD:=@9F<D=<MKAF?-(!A
=
KM:B=;LKO@G
L9C=J=K;M=E=<A;9LAGFOADD:=;D9KKA>A=<9K>9ADMJ=K>GJ9DD=>>A;9;Q9KK=KKE=FLKL@9L9J=J=HGJL=<
9LGJ9>L=JL9CAF?J=K;M=E=<A;9LAGF
/@=-(!E=L@G<OADD9HHDQLG9DD=>>A;9;Q=F<HGAFLK
=P;=HLL@=K=;GF<9JQ=>>A;9;Q=F<HGAFLG>J=K;M=E=<A;9LAGFMK=OAL@AF@GMJKHGKL<GK=


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









		
/(+ /5,#.-(,10
59N=?=H9FLOADD:=L=KL=<>GJKMH=JAGJALQ9?9AFKLHD9;=:G9L9F9DH@9
D=N=D>GJ:GL@;G	
HJAE9JQ=F<HGAFLKMKAF?L@==>>A;9;Q9F9DQKAKK=L
!GJ=9;@=F<HGAFLLJ=9LE=FL?JGMHKOADD:=
;GEH9J=<MKAF?9G;@J9F	(9FL=D#9=FKR=DL=KLLG=KLAE9L=L@=<A>>=J=F;=AFH=J;=FL9?=KG>
KM:B=;LK9;@A=NAF?L@==F<HGAFLJ=KHGFK=;JAL=JA9R9N=?=H9FLWHD9;=:GKLJ9LA>A=<:Q
HJGH@QD9;LA;EA?J9AF=E=<A;9LAGFMK=9LJ9F<GEAR9LAGFQ=KGJFG
/@=H=J;=FL9?=G>KM:B=;LK
9;@A=NAF?L@==F<HGAFLJ=KHGFK=;JAL=JA9OADD:=HJ=K=FL=<OAL@9;GF>A<=F;=AFL=JN9D$:Q
LJ=9LE=FL?JGMH
/@=<A>>=J=F;=AFH=J;=FL9?=K:=LO==FLJ=9LE=FL?JGMHKOADD:=HJ=K=FL=<OAL@
9$9F<H	N9DM=

.M:B=;LKOAL@EAKKAF?<9L99L@GMJKHGKL<GK=OADD:=;D9KKA>A=<9K>9ADMJ=KA
=
)GF	GEHD=L=J
!9ADMJ=)!

.=FKALANALQ9F9DQK=KOADD:=<=K;JA:=<AFL@=.+

	

$"-,# /5,#.-(,10
$>L@=L=KLKG>:GL@;G	HJAE9JQ=F<HGAFLK9J=KA?FA>A;9FLA
=
:GL@H	N9DM=K9J=T
L@=FL@=
K=;GF<9JQ=F<HGAFLKOADD:=L=KL=<@A=J9J;@A;9DDQ9LL@=9DH@9
D=N=DAFL@=GJ<=JK@GOFAF
L@=.=;GF<9JQ F<HGAFLKK=;LAGFMKAF?L@==>>A;9;Q9F9DQKAKK=L
/@MK9K=;GF<9JQ=F<HGAFLOADD
:=L=KL=<GFDQA>L@=HJ=;=<AF?K=;GF<9JQ=F<HGAFLAFL@=@A=J9J;@QAK<=L=JEAF=<LG:=
KA?FA>A;9FLA
=
H	N9DM=T

/@=K9E=KL9LAKLA;KOADD:=HJ=K=FL=<9KL@GK=>GJL@=;G	HJAE9JQ
=F<HGAFLK

!GJ=F<HGAFLK:9K=<GF9KAF?D=LAE=HGAFLKM;@9KH@GFGH@G:A9>J==<GE9L@GMJKHGKL<GK=
KM:B=;LKOAL@EAKKAF?<9L99L9KAF?D=LAE=HGAFLOADD9DKG:=;D9KKA>A=<9K>9ADMJ=K
!GJ=F<HGAFLK
:9K=<GFEMDLAHD=LAE=HGAFLKKM;@9KKMKL9AF=<H9AFJ=DA=>>JGELG@GMJKHGKL<GK=KM:B=;LK
OAL@EAKKAF?<9L99LGJ@GMJKHGKL<GK=GJEGJ=L@9FLAE=HGAFL>JGELG
@GMJKHGKL<GK=OADD9DKG:=;D9KKA>A=<9K>9ADMJ=K


	
!&+*8=3&1=7*7
=9L@KOADD:=DAKL=<OAL@GMLJ=?9J<LGGFK=L>GJL@==FJGDD=<9F9DQKAKK=L

/@=>J=IM=F;A=KG>L@=>GDDGOAF?HGKL<GK=K9>=LQ=F<HGAFLKOADD:=HJ=K=FL=<:QLJ=9LE=FL?JGMH
>GJL@=K9>=LQ9F9DQKAKK=L K:QAFL=FKALQ. K KJ=D9L=<LGKLM<Q<JM?;DAFA;9DDQJ=D=N9FL
D9:GJ9LGJQL=KL9:FGJE9DALA=KDAN=J>MF;LAGFL=KL=D=N9LAGFK9F<F9K9DAFKH=;LAGF9:FGJE9DALA=K

/@=AFN=KLA?9LGJKOADD<=L=JEAF=L@=AFL=FKALQG> K9F<L@=J=D9LAGFK@AHG> KLGKLM<Q<JM?

/@=AFN=KLA?9LGJKZL=JEKOADD:=;G<=<MKAF?L@=D9L=KLN=JKAGFG>L@=(=<A;9DA;LAGF9JQ>GJ
-=?MD9LGJQ;LANALA=K(=<-9N9AD9:D=9LL@=KL9JLG>L@=KLM<Q
 KOADD:=HJ=K=FL=<:Q
KQKL=EGJ?9F;D9KK9F<HJ=>=JJ=<L=JE


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









DAFA;9DDQKA?FA>A;9FLD9:GJ9LGJQL=KL9:FGJE9DALA=KOADD:=A<=FLA>A=<9K"J9<=LGD9:GJ9LGJQ
L=KLJ=KMDLK?J9<=<9;;GJ<AF?LGFME=JA;D9:GJ9LGJQL=KL;JAL=JA9AFGEEGF/=JEAFGDG?QJAL=JA9
>GJ<N=JK= N=FLK/ 1=JKAGF
A>9N9AD9:D=GL@=JOAK=J=KMDLKOADD:=?J9<=<
9;;GJ<AF?LGFME=JA;D9:GJ9LGJQL=KL;JAL=JA9AFANAKAGFG>$.$./9:D=>GJ"J9<AF?L@=
.=N=JALQG><MDL9F<+=<A9LJA;<N=JK= N=FLKGJJ=;L=<1=JKAGF
A>9N9AD9:D=



',)(80)3*2%0<6)6
/@=>AF9D9F9DQKAKOADDG;;MJ9>L=JL@=D9KLKM:B=;L@9K;GEHD=L=<L@=AJD9KLNAKAL
)GAFL=JAE
9F9DQK=K9J=HD9FF=<




'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 "! !!"!
 33(0-2-'%05%'7-')
/@AKKLM<QOADD:=;GF<M;L=<AF;GEHDA9F;=OAL@L@=HJGLG;GD"GG<DAFA;9D+J9;LA;="+
"GG<'9:GJ9LGJQ+J9;LA;="'+$FL=JF9LAGF9DGF>=J=F;=GF#9JEGFAR9LAGF?MA<=DAF=K9F<9DD
9HHDA;9:D=J=?MD9LAGFKAF;DM<AF?L@=!=<=J9D!GG<JM?9F<GKE=LA;;L0
.
9HHDA;9:D=
G<=G>!=<=J9D-=?MD9LAGFKLALD=9FQ$F<=H=F<=FL L@A;KGEEALL==$ J=IMAJ=E=FLK
J=D9LAN=LG;DAFA;9DKLM<A=K
/@=KLM<QOADD9DKG:=;GF<M;L=<AF;GEHDA9F;=OAL@L@=
J=;GEE=F<9LAGFKD9A<<GOFAFL@=EGKLJ=;=FLN=JKAGFG>L@==;D9J9LAGFG>#=DKAFCAOAL@L@=
=P;=HLAGFL@9LJ=?AKLJ9LAGFG>KM;@+@9K=LJA9DKAF9HM:DA;DQ9;;=KKA:D=<9L9:9K=AKFGL
E9F<9LGJQ

/@AKKLM<QOADD:=;GF<M;L=<AF;GEHDA9F;=OAL@L@=HJGLG;GD
/@=HJGLG;GD9F<9FQ9E=F<E=FLK
9F<L@=KM:B=;LAF>GJE=<;GFK=FLOADDJ=;=AN=$FKLALMLAGF9D-=NA=OG9J<$F<=H=F<=FL L@A;K
GEEALL==$-$ 9HHJGN9D>9NGJ9:D=GHAFAGFHJAGJLGAFALA9LAGFG>L@=KLM<Q

DDK=JAGMK:J=9;@=KEMKL:=J=HGJL=<LGAG@9N=FGJ<=KA?F==AEE=<A9L=DQ
.=JAGMK:J=9;@
AK9:J=9;@G>L@=;GF<ALAGFK9F<HJAF;AHD=KG>"+AF;GFF=;LAGFOAL@L@=KLM<QGJHJGLG;GD
O@A;@AKDAC=DQLG9>>=;LLG9KA?FA>A;9FL<=?J==L@=K9>=LQGJH@QKA;9DGJE=FL9DAFL=?JALQG>L@=
KM:B=;LKG>L@=KLM<QGJL@=K;A=FLA>A;N9DM=G>L@=KLM<Q

.LM<QH=JKGFF=DAFNGDN=<AF;GF<M;LAF?L@AKKLM<QOADD:=IM9DA>A=<:Q=<M;9LAGFLJ9AFAF?9F<
=PH=JA=F;=LGH=J>GJEL@=AJJ=KH=;LAN=L9KCK

/@AKKLM<QOADDFGLMK=L@=K=JNA;=KG>KLM<QH=JKGFF=DO@=J=K9F;LAGFK@9N=:==FAFNGC=<GJ
O@=J=L@=J=@9K:==FK;A=FLA>A;EAK;GF<M;LGJ>J9M<=
?
DGKKG>E=<A;9DDA;=FKMJ=<=:9JE=FL

/@=+JAF;AH9DAFN=KLA?9LGJ9F<L@=.HGFKGJZKJ=HJ=K=FL9LAN=EMKLKA?FL@=HJGLG;GD9F<ALK
9E=F<E=FLKA>9FQ:=>GJ=AFALA9LAF?L@=KLM<Q

$LAKL@=.HGFKGJZKJ=KHGFKA:ADALQLGKM:EALL@=HJGLG;GD9F<ALK9E=F<E=FLKA>9FQ9F<L@=
$!KLGJ=?MD9LGJQ9ML@GJALA=KO@=FF=;=KK9JQ

 %7%%2(%*)7<32-735-2+311-77))
/@AKKLM<QOADDFGLE9C=MK=G>99L9.9>=LQ(GFALGJAF?GEEALL==(
.9>=LQOADD:=
;DGK=DQEGFALGJ=<NA9GN=JKA?@L:QL@=AFN=KLA?9LGJK.HGFKGJ9F<-*<=KA?F==9F<9F
$FKLALMLAGF9D-=NA=OG9J<$F<=H=F<=FL L@A;KGEEALL==

	 7))5-2+311-77))
)GL9HHDA;9:D=LGL@AKKLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/










 267-787-32%0)9-):3%5(2()4)2()277,-'6311-77))
/@=$FN=KLA?9LGJK9?J==LGHJGNA<=L@=$-$ OAL@9DD9HHJGHJA9L=<G;ME=FLKAF;DM<AF?9;GHQ
G>L@=HJGLG;GD9E=F<E=FLK$!K9<N=JLAKAF?L=PLA>9FQ$FN=KLA?9LGJZKJG;@MJ=A>9FQ9F<
9FQGL@=JOJALL=FAF>GJE9LAGFHJGNA<=<LGKLM<QKM:B=;LK
/@=LJA9DOADDFGL:=?AFMFLADL@=
$FN=KLA?9LGJK@9N=G:L9AF=<L@=$-$ >9NGJ9:D=OJALL=F9HHJGN9DK>GJL@=9:GN=	E=FLAGF=<
KLM<Q<G;ME=FLK

$FL@==N=FLL@9LL@=HJGLG;GDAK9E=F<=<L@=J=NAK=<HJGLG;GDEMKL:=9HHJGN=<:QL@=$-$ 
HJAGJLGALKAEHD=E=FL9LAGFMFD=KKL@=;@9F?=KAFNGDN=GFDQDG?AKLA;9DGJ9<EAFAKLJ9LAN=9KH=;LK
G>L@=LJA9D

 2*351)(326)27
$FN=KLA?9LGJKEMKL=FKMJ=L@9LKM:B=;LKGJAFL@GK=KALM9LAGFKO@=J=;GFK=FL;9FFGL:=?AN=F:Q
KM:B=;LKL@=AJD=?9DDQ9;;=HL9:D=J=HJ=K=FL9LAN=K9J=;D=9JDQ9F<>MDDQAF>GJE=<9:GMLL@=
HMJHGK=HGL=FLA9DJAKCK9F<GL@=J;JALA;9DAKKM=KJ=?9J<AF?;DAFA;9DKLM<A=KAFO@A;@L@=Q
NGDMFL==JLGH9JLA;AH9L=

AG@9N=FGJ<=KA?F==OADDHJGNA<=L@=$FN=KLA?9LGJOAL@9F9HHJGHJA9L=A
=
"DG:9DGJ'G;9D
K9EHD=AF>GJE=<;GFK=FL>GJEO@A;@OADDAF;DM<=9DD=D=E=FLKJ=IMAJ=<:Q$#"+9F<
9HHDA;9:D=J=?MD9LGJQJ=IMAJ=E=FLK
/@=K9EHD=AF>GJE=<;GFK=FL>GJEOADD9<@=J=LGL@==L@A;9D
HJAF;AHD=KL@9L@9N=L@=AJGJA?AFAFL@==;D9J9LAGFG>#=DKAFCA

=>GJ=L@=HGL=FLA9DKM:B=;L@9KMF<=J?GF=9FQKLM<Q	J=D9L=<K;J==FAF?HJG;=<MJ=KL@=F9LMJ=G>
L@=KLM<Q9F<L@=HGL=FLA9DJAKCK9KKG;A9L=<OAL@ALOADD:==PHD9AF=<LGL@=KM:B=;L9F<L@=
KM:B=;LOADD:=?AN=F9FGHHGJLMFALQLG9KCIM=KLAGFKLG@AKGJ@=JK9LAK>9;LAGF
>L=JL@=
IM=KLAGFK9J=9FKO=J=<:ML:=>GJ=HJG;==<AF?>MJL@=JL@=KM:B=;LEMKLJ=9<KA?F9F<<9L=9F
$-$ 9HHJGN=<OJALL=FAF>GJE=<;GFK=FL>GJE>GJKLM<QH9JLA;AH9LAGF9F</.<9L9:9K=
H9JLA;AH9LAGF
/@=KA?F=<9F<<9L=<$!OADD:=J=L9AF=<9LL@=$FN=KLA?9LGJZKKAL=OAL@9;GHQ
HJGNA<=<LGL@=KLM<QKM:B=;L9F<L@=<9L=9F<LAE=L@=KM:B=;LKA?F=<L@=>GJEOADD:==FL=J=<AF
@AKGJ@=J-!

$>9J=NAK=<$!AKAFLJG<M;=<<MJAF?L@=KLM<Q=9;@KM:B=;LZK>MJL@=J;GFK=FLEMKL:=G:L9AF=<

/@=F=ON=JKAGFG>L@=$!EMKL:=9HHJGN=<:QL@=$-$ HJAGJLGKM:K=IM=FLDQG:L9AFAF?
=9;@KM:B=;LZK;GFK=FL

$>AF>GJE=<;GFK=FLAKAFALA9DDQ?AN=F:Q9KM:B=;LZKD=?9D?M9J<A9FGJD=?9DDQ9;;=HL9:D=
J=HJ=K=FL9LAN=9F<L@=KM:B=;LKM:K=IM=FLDQ:=;GE=K;9H9:D=G>E9CAF?9F<;GEEMFA;9LAF?
L@=AJAF>GJE=<;GFK=FL<MJAF?L@=KLM<QL@=FL@=;GFK=FLEMKL9<<ALAGF9DDQ:=G:L9AF=<>JGEL@=
KM:B=;L

/@=AF>GJE=<;GFK=FL>GJEEMKL9DKGAF;DM<=9KL9L=E=FLL@9LAG@9N=F9F<ALKJ=HJ=K=FL9LAN=K
9F<J=?MD9LGJQ9ML@GJALA=KE9Q@9N=<AJ=;L9;;=KKLGKM:B=;LJ=;GJ<K


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 %6))43573516
FAFN=KLA?9LGJAKJ=IMAJ=<LGHJ=H9J=9F<E9AFL9AF9<=IM9L=9F<9;;MJ9L=;9K=@AKLGJA=K<=KA?F=<
LGJ=;GJ<9DDG:K=JN9LAGFK9F<GL@=J<9L9H=JLAF=FLLGL@=AFN=KLA?9LAGFG>=9;@KLM<QH9LA=FL
9L9
J=HGJL=<GFL@=-!L@9L9J=<=JAN=<>JGEKGMJ;=<G;ME=FLKEMKL:=;GFKAKL=FLOAL@L@=KGMJ;=
<G;ME=FLKGJL@=<AK;J=H9F;A=KEMKL:==PHD9AF=<

 D=;LJGFA;-!KOADD:=HJ=H9J=<>GJ9DD<9L9;GDD=;LAGF>A=D<KO@=F AK:=AF?MK=<

/@=;GF>A<=FLA9DALQG>J=;GJ<KL@9L;GMD<A<=FLA>QH9LA=FLKEMKL:=HJGL=;L=<J=KH=;LAF?L@=
HJAN9;Q9F<;GF>A<=FLA9DALQJMD=KAF9;;GJ<9F;=OAL@L@=9HHDA;9:D=J=?MD9LGJQJ=IMAJ=E=FLK

/@=AFN=KLA?9LGJEMKLJ=L9AF9;GHQG>L@=-!KAF;DM<AF?J=;GJ<KG>;@9F?=K9F<;GJJ=;LAGFK

$> AK:=AF?MK=<KA?F9LMJ=KOADD:=G:L9AF=<=D=;LJGFA;9DDQ9F<9;GHQG>L@==D=;LJGFA;
-!KOADD:=HJGNA<=<GJL@=<9L9>JGEL@=-!K>GJ>MLMJ=J=>=J=F;=



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









   !"
$F9;;GJ<9F;=OAL@L@=HJAF;AHD=KG>"+9F<"'+L@=KLM<QE9Q:=AFKH=;L=<:QJ=?MD9LGJQ
9ML@GJALA=KL@=.HGFKGJ9F<-*
/@=.HGFKGJAK=FLALD=<LG9;;=KKAF>GJE9LAGF9:GMLL@=KL9LMK
G>L@=KLM<Q9F<LGJ=NA=OL@=GJA?AF9D<G;ME=FLKG>L@=KLM<Q

/@=AFN=KLA?9LGJEMKLJ=L9AF9DDKLM<QJ=;GJ<K9F<KGMJ;=<G;ME=FLK>GJL@=E9PAEMELAE=
H=JAG<J=IMAJ=<:QL@=9HHDA;9:D=J=?MD9LAGFK9F<?MA<=DAF=KGJAFKLALMLAGFHJG;=<MJ=KGJ>GJL@=
H=JAG<G>LAE=KH=;A>A=<:QL@=KHGFKGJO@A;@=N=JAKDGF?=J
/@=AFN=KLA?9LGJEMKL;GFL9;LL@=
.HGFKGJHJAGJLG<=KLJGQAF?9FQJ=;GJ<K9KKG;A9L=<OAL@L@AKKLM<Q

AG@9N=FOADDFGLA>QL@=AFN=KLA?9LGJKO@=FL@=KLM<Q>AD=K>GJL@AKKLM<Q9J=FGDGF?=JF==<=<

$>L@=AFN=KLA?9LGJOAL@<J9OK>JGEL@=KLM<QA
=
J=LAJ=E=FLJ=DG;9LAGFL@=J=;GJ<KK@9DD:=
LJ9FK>=JJ=<LG9EMLM9DDQ9?J==<MHGF<=KA?F==
)GLA;=G>KM;@LJ9FK>=JOADD:=?AN=FAFOJALAF?
LGAG@9N=F

$LAKL@=J=KHGFKA:ADALQG>L@=AFN=KLA?9LGJLG=FKMJ=L@9LL@=;MJJ=FL<AKHGKALAGFJ=;GJ<G>
AFN=KLA?9LAGF9DHJG<M;LE9Q:=KMHHDA=<:QL@=KHGFKGJAKE9AFL9AF=<9L=9;@KLM<QKAL=O@=J=
L@=KLM<Q<JM?AKAFN=FLGJA=<9F<<AKH=FK=<
-=;GJ<KGJDG?KEMKL;GEHDQOAL@9HHDA;9:D=
J=?MD9LAGFK9F<?MA<=DAF=K9F<K@GMD<AF;DM<=
• 9EGMFLG>KLM<Q<JM?J=;=AN=<9F<HD9;=<AFKLGJ9?=9J=9
• D9:=D$FME:=JGJ:9L;@FME:=JGJ&ALFME:=J9KKH=;A>A=<>GJL@=HJGLG;GD
• 9EGMFL<AKH=FK=<LG9F<J=LMJF=<>JGE=9;@H9LA=FL
• 9EGMFLLJ9FK>=JJ=<LG9FGL@=J9J=9GJKAL=>GJ<AKH=FKAF?GJKLGJ9?=A>9HHDA;9:D=
• 9EGMFLG><JM?DGKLGJO9KL=<
• 9EGMFL<=KLJGQ=<9LL@=KAL=A>9HHDA;9:D=
• 9EGMFLJ=LMJF=<LGKHGFKGJA>9HHDA;9:D=
• J=L9AFK9EHD=K>GJ:AG9N9AD9:ADALQ:AG=IMAN9D=F;=A>9HHDA;9:D=
• J=;GJ<G><9L=K9F<AFALA9DKG>H=JKGFF=DJ=KHGFKA:D=>GJ$(<AKH=FKAF?9F<9;;GMFL9:ADALQ

 385')3'81)27%7-32
F$FN=KLA?9LGJAKJ=IMAJ=<LGHJ=H9J=9F<E9AFL9AF9<=IM9L=9F<9;;MJ9L=;9K=@AKLGJA=K<=KA?F=<
LGJ=;GJ<9DDG:K=JN9LAGFK9F<GL@=J<9L9H=JLAF=FL>GJ9DDKM:B=;LKGFKLM<Q


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









$>KGMJ;=<G;ME=FLK9J=;J=9L=<LGKMHHGJLL@=;GDD=;LAGFG>KLM<QAF>GJE9LAGFL@AKEMKL:=
J=L9AF=<OAL@L@=GL@=JH=JLAF=FLE=<A;9DJ=;GJ<K>GJ=9;@KM:B=;L>GJN=JA>A;9LAGFG><9L9HGAFLK
MFD=KKGL@=JOAK=AFKLJM;L=<:QL@=.HGFKGJGJ<=KA?F==LG=FL=J<9L9<AJ=;LDQGFL@==-!

.LM<QEGFALGJKOADDH=J>GJEGF?GAF?KGMJ;=<9L9N=JA>A;9LAGFLG;GF>AJEL@9L<9L9=FL=J=<AFLG
L@=-!:Q9ML@GJAR=<KAL=H=JKGFF=D9J=9;;MJ9L=;GEHD=L=9F<N=JA>A9:D=>JGEKGMJ;=
<G;ME=FLKL@9LL@=K9>=LQ9F<JA?@LKG>H9JLA;AH9FLK9J=:=AF?HJGL=;L=<9F<L@9LL@=KLM<QAK
:=AF?;GF<M;L=<AF9;;GJ<9F;=OAL@L@=;MJJ=FLDQ9HHJGN=<HJGLG;GD9F<9FQGL@=JKLM<Q
9?J==E=FLK$#"+9F<9DD9HHDA;9:D=J=?MD9LGJQJ=IMAJ=E=FLK

/@=AFN=KLA?9LGJEMKLH=JEALKLM<Q	J=D9L=<EGFALGJAF?9M<ALK$-$ J=NA=O9F<J=?MD9LGJQ
9?=F;QAFKH=;LAGFK9F<HJGNA<=<AJ=;L9;;=KKLGKGMJ;=<9L9<G;ME=FLK

 78(<-0)6%2()'35()7)27-32
/@=.HGFKGJ<G=KFGLJ=IMAJ=GJA?AF9D<G;ME=FLKL@9L@9N=9DJ=9<Q:==FK;9FF=<9F<=FL=J=<
AFLGL@==/(!KQKL=ELG:=>GJO9J<=<LGL@=.HGFKGJ
FQGJA?AF9D<G;ME=FLKA
=
KA?F=<
>AF9F;A9D<AK;DGKMJ=KA?F=<$!=L;
OADD:=J=L9AF=<AFL@=J=?MD9LGJQ:AF<=J9LL@=KLM<QKAL=

/@=-*OADD;GF<M;L9>AF9D/(!J=;GF;ADA9LAGFLG=FKMJ=9DDKLM<Q>AD=K9F<J=?MD9LGJQ
<G;ME=FLK@9N=:==F;GJJ=;LDQMHDG9<=<LGL@=/(!HJAGJLGL@=;DGK=GJL=JEAF9LAGFG>L@=
KLM<Q
FQE9L=JA9DKGJ<G;ME=FLKLGKMHHGJLL@=;DAFA;9DLJA9DGMLKA<=G>L@==/(!A
=
J9L=J
LJ9AFAF?L9H=KK@GMD<:=E9AFL9AF=<:QL@=-*
/@=.HGFKGJOADD:=;GFL9;L=<LG<=L=JEAF=
O@=L@=JL@=KLM<Q<G;ME=FLKE9L=JA9DKL@9L9J=J=L9AF=<GMLKA<=G>L@=/(!OADD:=>GJO9J<=<LG
L@=.HGFKGJ<=KLJGQ=<GJC=HL9LL@=-*GJ9L9FGL@=J>9;ADALQ>GJ9DGF?=JH=JAG<G>LAE=9LL@=
.HGFKGJK=PH=FK=

/@=-*OADDE9AFL9AF9<=IM9L=KLM<QJ=;GJ<K9>L=J;GEHD=LAGFGJL=JEAF9LAGFG>KLM<Q
>L=J
L@9LH=JAG<L@=.HGFKGJOADD:=;GFL9;L=<LG<=L=JEAF=O@=L@=JL@=KLM<QJ=;GJ<KOADD:=
>GJO9J<=<LGL@=.HGFKGJ<=KLJGQ=<GJC=HL9L-*GJ9L9FGL@=J>9;ADALQ>GJ9DGF?=JH=JAG<G>
LAE=9LL@=.HGFKGJK=PH=FK=



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 "!
+JGLG;GDEG<A>A;9LAGFK=P;=HLL@GK=AFL=F<=<LGJ=<M;=AEE=<A9L=JAKCLGKLM<QKM:B=;LKE9Q:=
E9<=GFDQ:QAG@9N=FGJKH=;A>A=<<=KA?F==
HJGLG;GD;@9F?=AFL=F<=<LG=DAEAF9L=9F
9HH9J=FLAEE=<A9L=@9R9J<LGKM:B=;LKE9Q:=AEHD=E=FL=<AEE=<A9L=DQHJGNA<=<L@=$-$ 
AKFGLA>A=<OAL@AF<9QK

FQH=JE9F=FL;@9F?=LGL@=HJGLG;GDEMKL:=@9F<D=<9K9HJGLG;GD9E=F<E=FL
/@=OJALL=F
9E=F<E=FLEMKL:=KM:EALL=<LGL@=$-$ 9F<L@=AFN=KLA?9LGJEMKL9O9AL9HHJGN9D:=>GJ=
AEHD=E=FLAF?L@=;@9F?=K
AG@9N=FGJKH=;A>A=<<=KA?F==OADDKM:EALHJGLG;GD9E=F<E=FLKLG
L@=9HHJGHJA9L=J=?MD9LGJQ9ML@GJALA=K>GJ9HHJGN9D

$>AFL@=BM<?E=FLG>L@=$-$ L@=AFN=KLA?9LGJ9F<GJAG@9N=FL@=9E=F<E=FLLGL@=
HJGLG;GDKM:KL9FLA9DDQ;@9F?=KL@=KLM<Q<=KA?F9F<GJAF;J=9K=KL@=HGL=FLA9DJAKCLGL@=KM:B=;L
9F<GJ@9K9FAEH9;LGFL@=KM:B=;LKAFNGDN=E=FL9K9KLM<QH9JLA;AH9FLL@=;MJJ=FLDQ9HHJGN=<
OJALL=FAF>GJE=<;GFK=FL>GJEOADDJ=IMAJ=KAEAD9JEG<A>A;9LAGF
$FKM;@;9K=KAF>GJE=<;GFK=FL
OADD:=J=F=O=<>GJKM:B=;LK=FJGDD=<AFL@=KLM<Q:=>GJ=;GFLAFM=<H9JLA;AH9LAGF



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.	8/









	 !"#%  "#"!
AG@9N=FGJKH=;A>A=<<=KA?F==AKJ=KHGFKA:D=>GJHJ=H9JAF?9F<HJGNA<AF?L@=9HHJGHJA9L=
J=?MD9LGJQ9ML@GJALA=KOAL@;DAFA;9DKLM<QJ=HGJLK9;;GJ<AF?LGL@=9HHDA;9:D=J=?MD9LGJQ
J=IMAJ=E=FLK

/@=HM:DA;9LAGFHGDA;QG>AG@9N=FAK<AK;MKK=<AFL@=AFN=KLA?9LGJKDAFA;9D-=K=9J;@
?J==E=FL



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.
8/










 !"#%!"#"
GL@AG@9N=F9F<L@=+JAF;AH9D$FN=KLA?9LGJJ=K=JN=L@=JA?@LLGL=JEAF9L=L@=KLM<Q9LL@=
AFN=KLA?9LGJZKKAL=9L9FQLAE=
.@GMD<L@AK:=F=;=KK9JQAG@9N=FGJ9KH=;A>A=<<=KA?F==OADD
AF>GJEL@=9HHJGHJA9L=J=?MD9LGJQ9ML@GJALA=KG>L@=L=JEAF9LAGFG>L@=KLM<Q9F<L@=J=9KGFK>GJ
ALKL=JEAF9LAGF9F<L@=+JAF;AH9D$FN=KLA?9LGJOADDAF>GJEL@=$-$ G>L@=K9E=
$F
L=JEAF9LAF?L@=KLM<QAG@9N=F9F<L@=+JAF;AH9D$FN=KLA?9LGJOADD9KKMJ=L@9L9<=IM9L=
;GFKA<=J9LAGFAK?AN=FLGL@=HJGL=;LAGFG>L@=KM:B=;LKZAFL=J=KLK



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 ""%
DDAF>GJE9LAGF?=F=J9L=<AFL@AKKLM<QAK;GFKA<=J=<@A?@DQ;GF>A<=FLA9D9F<EMKLFGL:=
<AK;DGK=<LG9FQH=JKGFGJ=FLALQFGL<AJ=;LDQAFNGDN=<OAL@L@=KLM<QMFD=KKHJAGJOJALL=F;GFK=FL
AK?9AF=<>JGEAG@9N=F
#GO=N=J9ML@GJAR=<J=?MD9LGJQG>>A;A9DK$-$ H=JKGFF=D
AG@9N=F9F<ALK9ML@GJAR=<J=HJ=K=FL9LAN=K9J=9DDGO=<>MDD9;;=KKLGL@=J=;GJ<K

$<=FLA>A;9LAGFG>KM:B=;LK9F<-!KK@9DD:=:QAFALA9DKK;J==FAF?9F<LJ=9LE=FLFME:=JKGFDQ
$>
J=IMAJ=<L@=KM:B=;LK>MDDF9E=E9Q:=E9<=CFGOFLG9F9ML@GJAR=<J=?MD9LGJQ9?=F;QGJGL@=J
9ML@GJAR=<G>>A;A9D

/@=.HGFKGJE9Q9HHJGN=L@=K@9JAF?G><=	A<=FLA>A=<<9L9>JGEL@AKKLM<QLG:=E9<=9N9AD9:D=
LGJ=K=9J;@=JK>GJL@=HMJHGK=G>9<N9F;AF?L@=MF<=JKL9F<AF?G>F=MJGDG?A;GJHKQ;@A9LJA;
ADDF=KKJ9LAF?K;9D=KGJLJA9DE=L@G<GDG?Q>GJL@=9>>=;L=<HGHMD9LAGF
$F9FQHM:DA;9LAGFG>L@AK
<9L9;GF>A<=FLA9DALQG>AF<ANA<M9DKM:B=;LKOADD:=HJGL=;L=<


'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 !
 #7532+$	
2,-&-7356%2(2(8')5637%00-2'086-9)
/@=>GDDGOAF?E=<A;9LAGFK9F<E=<A;9LAGF;GE:AF9LAGFK9J=KGE=G>L@=KLJGF?AF@A:ALGJKG>
4+
/@AKDAKLK@GMD<FGL:=;GFKA<=J=<9DD	AF;DMKAN=
K<=K;JA:=<AFL@=KLM<QHJGLG;GD
;GF;GEAL9FLMK=G>KLJGF?4+AF@A:ALGJKAKHJG@A:AL=<
$F<ANA<M9D<JM?D9:=DKK@GMD<:=
J=NA=O=<>GJKH=;A>A;AF>GJE9LAGFGFHJGH=FKALQLGAF@A:AL4+>GJ9KH=;A>A;;GEHGMF<


$?=:92*!934-4?:=>
G;=HJ=NAJ;G:A;AKL9L;GFAN9HL9F<9FGHJ=NAJ9F<JALGF9NAJ=DNAL=?J9NAJ9F<JALGF9NAJ
AF<AF9NAJ9F<JALGF9NAJALJ9;GF9RGD=C=LG;GF9RGD=DGHAF9NAJ9F<JALGF9NAJH9JAL9HJ=NAJ
9F<JALGF9NAJ9F<GE:AL9KNAJ9F<GJ<9K9:MNAJHGK9;GF9RGD=JALGF9NAJK9IMAF9NAJ9F<
JALGF9NAJL=D9HJ=NAJLAHJ9F9NAJ9F<JALGF9NAJLJGD=9F<GEQ;AFNGJA;GF9RGD=
;D9JAL@JGEQ;AFF=>9RG<GF=F=D>AF9NAJ
/@=>GDDGOAF?E=<A;9LAGFK9F<KMHHD=E=FLK9J=KGE=G>L@=KLJGF?AF<M;=JKG>4+
/@=
DAKLK@GMD<FGL:=;GFKA<=J=<9DD	AF;DMKAN=
K<=K;JA:=<AFL@=KLM<QHJGLG;GD;GF;GEAL9FLMK=G>
KLJGF?4+AF<M;=JKAKHJG@A:AL=<
$F<ANA<M9DHJG<M;LD9:=DKK@GMD<:=J=NA=O=<>GJKH=;A>A;
AF>GJE9LAGFGFHJGH=FKALQLGAF<M;=4+>GJ9KH=;A>A;;GEHGMF<


$?=:92*!9/@.0=>
9J:9E9R=HAF=H@=FQLGAFJA>9EHAF.L
%G@FZK2GJL
#0>:@=.0>
@LLHKOOO
><9
?GNJM?K=N=DGHE=FLHHJGN9D+JG;=KK=N=DGHE=FL-=KGMJ;=KJM?$FL=J9;LA
GFK'9:=DAF?M;E
@LEL9:D=	
@LLHKOOO
><9
?GNJM?K=N=DGHE=FLHHJGN9D+JG;=KK=N=DGHE=FL-=KGMJ;=KJM?$FL=J9;LA
GFK'9:=DAF?M;E
@LEL9:D=	
#9;@9<#-9?M=F=9M	(9BD=KKA$'=NQ-#
MK=>MDLGGD>GJ<JM?AFL=J9;LAGF=N9DM9LAGF/@=
0FAN=JKALQG>29K@AF?LGF(=L9:GDAKE9F</J9FKHGJLJM?$FL=J9;LAGF9L9:9K=
#ME
"=FGEA;K
*;L	

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









0FAN=JKALQG>29K@AF?LGF(=L9:GDAKE9F</J9FKHGJLJM?$FL=J9;LAGF9L9:9K=9;;=KKA:D=
9L@LLHKOOO
<JM?AFL=J9;LAGFAF>G
GJ?
 #78(<)56322)0

.HGFKGJ
AG@9N=F+@9JE9;=MLA;9DK$F;

-=>=JLG;GFL9;LDAKLAF.LM<QAF<=J>GJ;GFL9;L
AF>GJE9LAGF
(=<A;9D(GFALGJ



*J



DAFA;9D-=K=9J;@*J?9FAR9LAGFK

-=>=JLGKLM<QJ=>=J=F;=E9FM9D>GJ;GFL9;LAF>GJE9LAGF
=FLJ9D'9:GJ9LGJQ

-=>=JLGKLM<QJ=>=J=F;=E9FM9D>GJ;GFL9;LAF>GJE9LAGF
=FLJ9D "

-=>=JLGKLM<QJ=>=J=F;=E9FM9D>GJ;GFL9;LAF>GJE9LAGF
=*

-=>=JLGKLM<QJ=>=J=F;=E9FM9D>GJ;GFL9;LAF>GJE9LAGF
+@9JE9;GNA?AD9F;=

-=>=JLG. +J=?F9F;Q.MJN=ADD9F;=!GJEK9F<.LM<Q
AF<=J>GJ;GFL9;LAF>GJE9LAGF

PPD
PPD
PPD
PPD
PPD
PPD
CCI
CCI
CCI
CCI
CCI

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









 " $ 

!;8=8,85%2=5.!1*<.8>+5.527-#*7-862C.-!5*,.+887=;855.-$*/.=B*7-//2,*,B%;2*58/'
C*?.0.9*7=7=;*7*<*5/8;=1.,>=.%;.*=6.7=8/20;*27.
$=>-B8'	
 ;2027*5!;8=8,85*=..+;>*;B


!;8=8,85'.;<2878'
!;8=8,85'.;<287*=.
>7.

	

				

	
		
		
• /@=;MJJ=FLJAKC	:=F=>AL=N9DM9LAGFG>L@=AFN=KLA?9LAGF9DHJG<M;L

• /@=EGJ9D=L@A;9D9F<K;A=FLA>A;HJAF;AHD=K?GN=JFAF?;DAFA;9DJ=K=9J;@9KK=LGMLAFL@=
=;D9J9LAGFG>#=DKAFCA9F<HJAF;AHD=KG>"+9K<=K;JA:=<AF!-H9JLK9F<
9F<9;;GJ<AF?LG9HHDA;9:D=DG;9DJ=IMAJ=E=FLK


/@=$FN=KLA?9LGJOADD:=KMHHDA=<OAL@<=L9ADKG>9FQKA?FA>A;9FLGJF=O>AF<AF?KAF;DM<AF? K
J=D9LAF?LGLJ=9LE=FLOAL@L@=AFN=KLA?9LAGF9DHJG<M;L


'!( %-&!
%#(-.+!**+)/&
-!
>=18;




5272,*5 9.;*=287<





28<=*=2<=2,<






.-2,*5.*-


D



$=>-B2;.,=8;






#.0>5*=8;B//*2;<





PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD
PPD

'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/









   !


#=9<9;@=D9KKA>A;9LAGFGEEALL==G>L@=$FL=JF9LAGF9D#=9<9;@=.G;A=LQ$#./@=
$FL=JF9LAGF9DD9KKA>A;9LAGFG>#=9<9;@=AKGJ<=JKJ<=<ALAGF
=H@9D9D?A9	



MK=-==<('!9FFAF?&(&MJL@/'AHLGF-
9J<AGN9K;MD9J N=FLK
GF<ALAGFK9F<+JG;=<MJ=KEGF?+=GHD=2AL@ HAKG<A;(A?J9AF=AFL@=0.+GHMD9LAGF
-=KMDLK>JGEL@=E=JA;9F(A?J9AF=+J=N9D=F;=9F<+J=N=FLAGF(++.LM<Q
#=9<9;@=
	



MJ@9E+'GF?+3=D9K;G&/=L9D
)=MJGF9D=PHJ=KKAGF9F<J=?MD9LAGFG>"-+
HJGEGL=J9;LANALQ>GDDGOAF?NAJ9D?=F=LJ9FK>=JAFLG;MDLMJ=<LJA?=EAF9D?9F?DA9F=MJGFK
J9AF
-=K	



 <NAFKKGF'
/@="-++9L@O9QAF(A?J9AF=9K91A9:D=/9J?=L>GJ/@=J9HA=K

#=9<9;@=.MHHD	



"G9<K:Q+% <NAFKKGF' CE9F-
19KG9;LAN=H=HLA<=J=D=9K=AFL@==PLJ9;=J=:J9D
;AJ;MD9LAGFG>@ME9FK<MJAF?EA?J9AF=@=9<9;@=
FF9DKG>F=MJGDG?Q	



'9KK=F'##9<=JKD=N+%9;G:K=F1$N=JK=F#&.H=JDAF?*D=K=F%
"-+E9Q
HD9Q9;9MK9LAN=JGD=AFEA?J9AF=
=H@9D9D?A9	



+=L=JK=F&'9KK=F'#AJC.'=KCG'*D=K=F%
$).9FL9?GFAR=K@ME9F
9DH@9	;9D;ALGFAF?=F=J=D9L=<H=HLA<=	AF<M;=<@=9<9;@=9F<=PLJ9;=J=:J9D9JL=JQ<AD9L9LAGF
DAF
+@9JE9;GD/@=J	



"G9<K:Q+% <NAFKKGF'
/@=LJA?=EAFGN9K;MD9JKQKL=E9F<EA?J9AF=KLM<A=K
;@9J9;L=JARAF?;=J=:JGN9K;MD9J9F<F=MJGH=HLA<=;@9F?=KK==FAF@ME9FK9F<;9LK
FF9DKG>
F=MJGDG?Q	



#GDD9F<+-"G9<K:Q+%
/9J?=L=<"-+.E9DD(GD=;MD=FL9?GFAKLK>GJ;ML=
(A?J9AF=/@=J9HQ
)=MJGL@=J9H=MLA;K	



'QF;@%%-=?9F+ <NAFKKGF'#9J?J=9N=K-%&9F=.
GEH9JAKGFG>L@=
N9KG;GFKLJA;LGJ=>>=;LKG>L@=;9D;ALGFAF?=F=	J=D9L=<H=HLA<=J=;=HLGJ9FL9?GFAKLL=D;9?=H9FL
(&	9F<RGDEALJAHL9FAF@ME9FAKGD9L=<;GJGF9JQ9JL=JA=K
%9J<AGN9K;+@9JE9;GD
	



+
A9?FGKLA;9F<.L9LAKLA;9D(9FM9DG>(=FL9DAKGJ<=JKL@ <ALAGF.(	L@
 <ALAGF
L@=<E=JA;9F+KQ;@A9LJA;+M:DAK@AF?



#1	$
$FN=KLA?9LGJZKJG;@MJ=#1	 <ALAGF)G

<<=F<ME



'	5272,*5!;8=8,85'.;<287
!1*<.-8>+5.+527-.//2,*,B<=>-B

		
C*?.0.9*7=
!*0.8/











.@==@9F1DH@K'(9G'=L9D
GEH9J9LAN=19DA<9LAGFG>L@=.	./.L@=$../	
+DMK9F<L@=	..-.>GJKK=KKAF?L@=.MA;A<9D/@AFCAF?9F<=@9NAGJ!.MA;A<9DALQ
9L=?GJA=K
$FFGN9LAGFKAF;DAFA;9DF=MJGK;A=F;=	



.@==@9F1"A<<=FK%(.@==@9F$.
.L9LMK0H<9L=GFL@=.@==@9F	.MA;A<9DALQ
/J9;CAF?.;9D=.	./.
$FFGN9LAGFKAF;DAFA;9DF=MJGK;A=F;=	



#9JLE9A=J.'.9FL9F=DDG) HKL=AF-..AD:=JKL=AF.
=N=DGHE=FLG>9:JA=>	
@GMJEA?J9AF=	KH=;A>A;IM9DALQG>DA>=IM=KLAGFF9AJ=
#=9<9;@=	