A Phase 3 Multicenter, RandomizeEd, Double Blind, Placebo COntrolled, Parallel Group Study to Evaluate the Safety, Tolerability, & Efficacy of SER-109 vs. Placebo to Reduce Recurrence of ClOstRidium Difficile Infection (CDI) in Adults
Phase: PHASE3
Conditions: Clostridium Difficile Infection
Sponsor: Seres Therapeutics, Inc.




)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7


##
 
)'/%4%6-212*32152424)53215-&/))(-'%/**-')4

-6/)    ,%5) 	 7/6-')16)4 %1(20-;( 27&/)/-1( /%')&2
1642//)( %4%//)/4273 67(: 62 8%/7%6) 6,) %*)6: 2/)4%&-/-6: %1( **-'%': 2*
85/%')&262)(7'))'744)1')2*
					
1*)'6-21-1(7/65
",2%8))')-8)(16-&%'6)4-%/47+4)%60)16*24)'744)16
*9:DDEF5JAC@E@4@=H2DDF3;64E65E@4C:E:42=C6G:6H*96:?7@C>2E:@?:E4@?E2:?D:D4@?D:DE6?EH:E9
4FCC6?E<?@H=6586@7E96C:D<D2?536?67:ED@7E96:?G6DE:82E:@?2=AC@5F4E2DH6==2DH:E9E96
>@C2=6E9:42=2?5D4:6?E:7:4AC:?4:A=6D8@G6C?:?84=:?:42=C6D62C492DD6E@FE:?E9664=2C2E:@?@7
6=D:?<:
2?5E968F:56=:?6D@?@@5=:?:42=&C24E:46

1111111 111111111111111111111







2E6 


13 April, 2020


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7

!=


92G6C646:G652?5C625E96)()	
&C@E@4@=>6?5>6?E52E65
	AC:=		2?528C66E@
4@?5F4EE96DEF5J2D@FE=:?6528C66E@>2:?E2:?E964@?7:56?E:2=:EJ@72==:?7@C>2E:@?C646:G65
@C56G6=@A65:?4@??64E:@?H:E9E9:DAC@E@4@=
















&C:?E65$2>6@7?G6DE:82E@C














):8?2EFC6@7?G6DE:82E@C








2E6



)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7

 #

321524)53215-&/))(-'%/**-')4







)(-'%/21-624













)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7


#
)6C6D*96C2A6FE:4D?4
!)(
	F324E6C:2=)A@C6D&FC:7:65)FDA6?D:@??42ADF=2E65
     &92D6  #F=E:46?E6C (2?5@>:K5 @F3=6=:?5
&=2463@?EC@==65&2C2==6=C@FAEF5JE@G2=F2E6E96)276EJ*@=6C23:=:EJ2?577:424J@7)(
	GD
=2463@E@(65F46(64FCC6?46@7


		

?764E:@?:?5F=ED-9@2G6(646:G65
?E:324E6C:2=CF8*C62E>6?E7@C(64FCC6?E(
 #AAC@I:>2E6=J
		DEF5J46?E6CD:?$@CE9>6C:42
 #
DE:>2E6552E67:CDEA2E:6?E6?C@==65'	

DE:>2E6552E6=2DEA2E:6?E4@>A=6E65'		


@CE9:DDEF5JC64FCC6?465FC:?8E96DEF5J:D567:?653JE967@==@H:?84C:E6C:2
•
&@D:E:G6


		

E6DE@?2DE@@=D2>A=656E6C>:?653J2E@I:?2DD2J
•
MF?7@C>653@H6=>@G6>6?EDA6C52J@G6C4@?D64FE:G652JD2?5E96C6BF:C6>6?EE92E
A2E:6?ED>FDE4@?E:?F6E@92G65:2CC962F?E:=2?E:3:@E:4EC62E>6?E:D:?:E:2E65
•
DD6DD>6?E 3J E96 :?G6DE:82E@C 32D65 @? 4=:?:42= 2DD6DD>6?E E92E E96 A2E:6?END 4@?5:E:@?
H2CC2?ED2?E:3:@E:4EC62E>6?E
!
&C:>2CJ77:424J%3;64E:G6
•
*@56>@?DEC2E6E96DFA6C:@C:EJ@7)(
	G6CDFDA=2463@:?E96C65F4E:@?@7C64FCC6?46
C2E6D56E6C>:?653J2E@I:?2DD2JFAE@H66<D27E6C:?:E:2E:@?@7EC62E>6?E

)64@?52CJ77:424J%3;64E:G6D
•
*@56>@?DEC2E6E96DFA6C:@C:EJ@7)(
	G6CDFDA=2463@:?E96C65F4E:@?@7C64FCC6?46
C2E6D 56E6C>:?65 FD:?8 2 &( 2=8@C:E9> D66 "23@C2E@CJ #2?F2= FA E@  H66<D 27E6C
:?:E:2E:@?@7EC62E>6?E
•
*@4@>A2C6E96E:>6E@C64FCC6?4656E6C>:?653J2E@I:?2DD2J:?E96)(
	EC62E>6?E
8C@FAE@E96E:>6E@C64FCC6?46:?E96A=2463@8C@FA27E6C:?:E:2E:@?@7EC62E>6?E
•
*@4@>A2C6E96E:>6E@C64FCC6?4656E6C>:?65FD:?82&(2=8@C:E9>:?E96)(
	
EC62E>6?E8C@FAE@E96E:>6E@C64FCC6?46:?E96A=2463@8C@FA27E6C:?:E:2E:@?@7EC62E>6?E
•
*@4@>A2C6E96AC@A@CE:@?@7DF3;64ED6IA6C:6?4:?8C64FCC6?4656E6C>:?653J2E@I:?
2DD2J :? DF3;64ED H9@ C646:G6 )(
	 E@ E96 AC@A@CE:@? @7 DF3;64ED 6IA6C:6?4:?8 
C64FCC6?46 :? DF3;64ED H9@ C646:G6 A=2463@ FA E@  
 2?5 H66<D 27E6C :?:E:2E:@? @7
EC62E>6?E
•
*@4@>A2C6E96AC@A@CE:@?@7DF3;64ED6IA6C:6?4:?8C64FCC6?4656E6C>:?65FD:?82&(
2=8@C:E9>:?DF3;64EDH9@C646:G6)(
	E@E96AC@A@CE:@?@7DF3;64ED6IA6C:6?4:?8


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7

C64FCC6?46 :? DF3;64ED H9@ C646:G6 A=2463@ FA E@  
 2?5 H66<D 27E6C :?:E:2E:@? @7
EC62E>6?E
•
*@56>@?DEC2E64=:?:42=677:424J@76249)(
	=@E2D4@>A2C65E@A=2463@FAE@H66<D
27E6C:?:E:2E:@?@7EC62E>6?E
&C:>2CJ)276EJ%3;64E:G6
•
*@ 6G2=F2E6 E96 D276EJ 2?5 E@=6C23:=:EJ @7 )(
	 G6CDFD A=2463@ :? 25F=E DF3;64ED H:E9
C64FCC6?E
IA=@C2E@CJ%3;64E:G6D
•
*@4@>A2C6492?86D:?E964@>A@D:E:@?@7E968FE>:4C@3:@>6:?E96)(
	EC62E>6?E8C@FA
E@492?86D:?E964@>A@D:E:@?@7E968FE>:4C@3:@>6:?E96A=2463@8C@FA7C@>2D6=:?6FAE@

2?5H66<D27E6C:?:E:2E:@?@7EC62E>6?E
•
*@4@>A2C6492?86D:?E967642=>6E23@=@>6:?E96)(
	EC62E>6?E8C@FAG6CDFD:?E96
A=2463@8C@FA7C@>2D6=:?6FAE@
2?5H66<D27E6C:?:E:2E:@?@7EC62E>6?E
•
*@56E6C>:?6E96:?4:56?46@7>@CE2=:EJ7C@>2==42FD6DFAE@2?5H66<D27E6C:?:E:2E:@?
@7EC62E>6?E:?6249@7E96EH@EC62E>6?E8C@FAD
•
*@56E6C>:?6E96:?4:56?46@79@DA:E2=:K2E:@?D7@CC64FCC6?EFAE@2?5H66<D27E6C
:?:E:2E:@?@7EC62E>6?E:?6249@7E96EH@EC62E>6?E8C@FAD
•
*@56E6C>:?6E96:?4:56?46@72==9@DA:E2=:K2E:@?DFAE@2?5H66<D27E6C:?:E:2E:@?@7
EC62E>6?E:?6249@7E96EH@EC62E>6?E8C@FAD
•
*@ 56E6C>:?6 7@C DF3;64ED H9@ 2C6 9@DA:E2=:K65 E96 E@E2= =6?8E9 @7 DE2J 52JD @7
9@DA:E2=:K2E:@?:?4=F5:?852JD:?E96:?E6?D:G642C6F?:EFAE@2?5H66<D27E6C:?:E:2E:@?
@7EC62E>6?E:?6249@7E96EH@EC62E>6?E8C@FAD
•
*@2DD6DD962=E9@FE4@>6D:?4=F5:?862=E9(6=2E65'F2=:EJ@7":76('%"3JFD:?8E96
FC@'@=:>6?D:@?D"6G6='"2?5E96('%"DFCG6J7@C:77FAE@
2?5H66<DC6DA64E:G6=J27E6CE96:?:E:2E:@?@7EC62E>6?E:?6249@7E96EH@EC62E>6?E
8C@FAD
 #
  :D 2 &92D6  >F=E:46?E6C C2?5@>:K65 5@F3=63=:?5 A=2463@4@?EC@==65 A2C2==6=8C@FA
DEF5J@7E96D276EJE@=6C23:=:EJ2?5677:424J@7)(
	G6CDFDA=2463@:?25F=EDF3;64ED
J62CD@7286@C
@=56CH:E9C64FCC6?E567:?652D29:DE@CJ@7M6A:D@56DH:E9:?
>@?E9D:?4=FD:G6@7E964FCC6?E
6A:D@56 *9:D DEF5J :D 56D:8?65 E@ 56>@?DEC2E6 E96 DFA6C:@C:EJ @7 )(
	 G6CDFD A=2463@ E@ C65F46
C64FCC6?46@7


		

:?764E:@?:?25F=EDH9@92G6C646:G652?E:324E6C:2=5CF8EC62E>6?E
7@CC64FCC6?E(32D65@?E96AC@A@CE:@?@7DF3;64ED6IA6C:6?4:?82C64FCC6?46C6BF:C:?8
2?E:3:@E:4EC62E>6?EFAE@H66<D27E6C:?:E:2E:@?@7EC62E>6?E
*96E2C86E244CF2=H:==36
DF3;64ED
)F3;64EDH:E929:DE@CJ@7(5:2CC9622?52A@D:E:G6
		

DE@@=D2>A=6E6DE653J2E@I:?2DD2J
AC676C23=JA6C7@C>653J246?EC2==23@C2E@CJD66"23@C2E@CJ#2?F2=H9@92G6C6DA@?565E@
	E@
52JD
@7DE2?52C5@742C6)%2?E:3:@E:4EC62E>6?E:6G2?4@>J4:?/
>8'0@C7:52I@>:4:?/		>8
0H:==36C2?5@>=J2DD:8?65:?2

C2E:@E@
@7EC62E>6?E8C@FAD*C62E>6?EC@FA/)(
	0
@C*C62E>6?EC@FA/&=2463@02?5DEC2E:7:653J286J62CDMJ62CD2DH6==2D2?E:3:@E:4C68:>6?
7@C E96 BF2=:7J:?8 6A:D@56 G2?4@>J4:? 7:52I@>:4:?"@42= =23@C2E@CJ E@I:? E6DE:?8 7@C E96 BF2=:7J:?8
6A:D@56>FDE367C@>2=:?:42="23@C2E@CJ>AC@G6>6?E>6?5>6?ED46CE:7:65=23@C2E@CJFD:?82@@5
2?5CF85>:?:DEC2E:@?2AAC@G65
		

E@I:?E6DE)F3;64EDH:==C646:G62?@C2=5@D6@7)(
	


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7

:?42ADF=6D@?4652:=J7@C52JD:?*C62E>6?EC@FA@C
>2E49:?8A=2463@@?4652:=J7@C52JD:?*C62E>6?EC@FA
&@E6?E:2=DF3;64EDH:==36D4C66?657C@>E@52JDAC:@CE@:?:E:2E:@?@75@D625>:?:DEC2E:@?&C@DA64E:G6
DF3;64ED:?4=F56E9@D6H9@92G6366?5:28?@D65H:E9E96:CE9:C5@CDF3D6BF6?E6A:D@56@7567:?652D
5:2CC962MF?7@C>65DE@@=DA6C52J7@C2E=62DE4@?D64FE:G652JD25@4F>6?E65A@D:E:G6
		

DE@@=
D2>A=6E6DE653J2E@I:?2DD2JAC676C23=JA6C7@C>653J246?EC2==23@C2E@CJ2?5H9@2C64FCC6?E=JE2<:?8@C
92G64@>A=6E652
	
52J4@FCD6@7DE2?52C5@742C6)%2?E:3:@E:4567:?652DG2?4@>J4:?/
>8
'02?5@C7:52I@>:4:?/		>80E@EC62EE96:C=E6C?2E:G6=JDF3;64EDH:E92DFDA64E65E9:C5@C
DF3D6BF6?E6A:D@56MF?7@C>65DE@@=DA6C52J7@C4@?D64FE:G652JD3FEH9@92G6?@E9252
DE@@=E6DE2C66=:8:3=6E@36D4C66?65*@36C2?5@>:K65:?E@E96DEF5J2==DF3;64ED>FDE92G62A@D:E:G6

		

DE@@=D2>A=6E6DE653J2E@I:?2DD2JAC676C23=JA6C7@C>653J246?EC2==23@C2E@CJ2?52?256BF2E6
4=:?:42=C6DA@?D67@==@H:?8)%2?E:3:@E:4E96C2AJ567:?652DF?7@C>65DE@@=D:?9@FCD7@C@C>@C6
4@?D64FE:G652JDFAE@C2?5@>:K2E:@?==DF3;64ED>FDE3623=6E@365@D65H:E9DEF5J5CF8H:E9:?52JD
@7)%2?E:3:@E:44@>A=6E:@?%?2J
H:E9:?52JD@74@>A=6E:?8)%2?E:3:@E:4EC62E>6?E7@CE96:C
DF3;64EDH:==F?56C8@23@H6=4=62?D63J4@?DF>:?8
	@KL		>"@7@C2=>28?6D:F>4:EC2E6
7@==@H653J@G6C?:89E72DE:?8)F3;64EDH:E9:>A2:C65<:5?6J7F?4E:@?H9@2C6F?23=6E@E2<6>28?6D:F>
4:EC2E6H:==E2<6	>"@7@"JE6=JA@=J6E9J=6?68=J4@=6=64EC@=JE6D@=FE:@?%?E9652J@7C2?5@>:K2E:@?
2J
DF3;64EDH:==C6A@CEE@E964=:?:42?5H:==C646:G66:E96C
5@D6@7)(
	
@C
5@D6
@7>2E49:?8A=2463@7@C@C2=25>:?:DEC2E:@?)F3;64EDH:==C6>2:?:?E964=:?:4F?E:=2==D276EJ6G2=F2E:@?D
92G6366?4@>A=6E65%?2J2?52JDF3;64ED>2J6=64EE@4@>6E@E964=:?:4E@C646:G62D:?8=652:=J
5@D6@7DEF5J5CF8@C>2J49@@D6E@C646:G62A9@?642==E@4@?7:C>25>:?:DEC2E:@?@72D:?8=652:=J5@D6@7
DEF5J5CF87DF3;64ED6=64EE@C646:G62A9@?642==AC:@CE@=62G:?8E964=:?:4@?2J
E96JH:==C646:G62
52JDFAA=J@7DEF5J5CF8A6CEC62E>6?E2DD:8?>6?E2DH6==2D:?DECF4E:@?D7@C9@>625>:?:DEC2E:@?@7
D:?8=652:=J5@D6D42ADF=6D:?E96>@C?:?8367@C63C62<72DE@?2J2?52J)F3;64ED6=64E:?8A9@?6
4@?7:C>2E:@?@75@D:?8H:==364@?E24E653JA9@?6@?2J2?52JE@4@?7:C>E96J92G6E2<6?DEF5J
5CF8367@C63C62<72DE2?5E@:?BF:C623@FEE96:C86?6C2=962=E97DF3;64ED92G6?@EE2<6?DEF5J5CF8H96?
4@?E24E65E96JH:==36C6>:?565E@5@D@2DD@@?2DA@DD:3=6C@>2J
E@-66<2==DF3;64EDH:==36
4@?E24E653JA9@?63JDEF5JD:E6A6CD@??6=H66<=JH:E9E966I46AE:@?@729@>6@C:?4=:?:4G:D:E2E-66<
2?52?:?4=:?:4G:D:E2E-66<2?5BF6C:657@C25G6CD66G6?EDD2?55:2CC962=DJ>AE@>D?255:E:@?
DF3;64EDH:==FD62A2E:6?EC6A@CE655:2CJ42C5E@42AEFC6D@=:4:E6525G6CD6C624E:@?D7@C52JD27E6C2J@7
DEF5J5CF82JE9C@F892J
	7E6C-66<2==DF3;64EDH:==364@?E24E653JA9@?63JDEF5JD:E6
A6CD@??6=6G6CJH66<D:6-66<D

	2?52?5BF6C:657@CD6C:@FD25G6CD66G6?ED/)D02?5
25G6CD6 6G6?ED @7 DA64:2= :?E6C6DE /)D0 62=E9C6=2E65 BF2=:EJ @7 =:76 2?5 962=E9 @FE4@>6D H:== 36
2DD6DD65E9C@F89@FEE96DEF5JG:2E96DA64:7:45:7762=E9(6=2E65'F2=:EJ@7":76('@"2?5
FC@'@=:>6?D:@?"6G6='"BF6DE:@??2:C6D
*@5@4F>6?E6A:D@56D@75:2CC962DF3;64EDH:==4@>A=6E6252:=J5:2CC962=@8D66?G6DE:82E@C):E6:=6E@
:?4=F5652JDH:E95:2CC9622DH6==2D?@5:2CC96275:2CC962=DJ>AE@>DC64FCMF?7@C>65DE@@=DA6C52J
@G6C4@?D64FE:G652JD36EH66?D4965F=65G:D:EDDF3;64EDH:==36:?DECF4E65E@4@?E24EE96:?G6DE:82E@C2?5
C6EFC?E@E964=:?:47@C2
		

DE@@=E6DE2?54=:?:42=6G2=F2E:@?7@CC64FCC6?46@7(64FCC6?46
,:D:E)F3;64EDH:E94@?7:C>65C64FCC6?462D567:?65:?E96AC@E@4@=FAE@H66<D27E6C:?:E:2E:@?@7
)(
	@CA=2463@EC62E>6?E>2J366=:8:3=6E@6?C@==:?E96@A6?=236=)(
	6IE6?D:@?DEF5J)()
	
DD6DD>6?EDA6C7@C>655FC:?8E96(64FCC6?46G:D:E>2J36FD657@CE96)4C66?:?8=23D7@C)()
	
)F3;64EDH9@5@?@E49@@D6E@6?C@==:?E96)()	
DEF5J@CDF3;64EDH:E924@?7:C>65C64FCC6?46
27E6C-66<D9@F=54@?E:?F6E@367@==@H657@CD276EJ2DD6DD>6?EDE9C@F89-66<2G@C23=64=:?:42=
@FE4@>6@CDFDE2:?654=:?:42=C6DA@?D6:?E9:DDEF5JH:==3656E6C>:?653JE9623D6?46@7C64FCC6?46
FAE@2?5
H66<D27E6C:?:E:2E:@?@7DEF5J5CF8C64FCC6?46:D567:?652DMF?7@C>65DE@@=DA6C52J
@G6C4@?D64FE:G652JD2?5E96C6BF:C6>6?EE92EA2E:6?ED>FDE4@?E:?F6E@92G65:2CC962F?E:=2?E:3:@E:4
EC62E>6?E:D:?:E:2E65H:E92A@D:E:G6
		

DE@@=D2>A=6E6DE653J2E@I:?2DD2J2?52564:D:@?3JE96
:?G6DE:82E@C32D65@?4=:?:42=2DD6DD>6?EE92E2?E:3:@E:4EC62E>6?E:D?66565*@:?7@C>DF3;64E42C62

		

DE@@=E6DE>2J36A6C7@C>65=@42==J2EE96DEF5JD:E6)E@@=D2>A=6D4@==64E657@CDFDA64E65
C64FCC6?46 H:== 2=D@ 36 AC@46DD65 2?5 D9:AA65 E@ 2 46?EC2= =23@C2E@CJ 7@C  
		

 DE@@= E6DE:?8 D66
"23@C2E@CJ #2?F2= 7@C 56E2:=D @7 46?EC2= =23@C2E@CJ E6DE:?8 *96 DF3;64E D9@F=5 ?@E :?:E:2E6 2?E:3:@E:4
EC62E>6?E7@CDFDA64E65AC:@CE@AC@G:5:?82DE@@=D2>A=67@CE9646?EC2==23@C2E@CJDE@@=E6DE:?82E2
7C@>E96
		

E@I:?2DD2J6:E96C6?KJ>6:>>F?@2DD2J/0@C46==4JE@E@I:4:EJ?6FEC2=:K2E:@?2DD2J
/$0A6C7@C>652EE9646?EC2==23@C2E@CJH:==36FD657@CE96AC:>2CJ6?5A@:?E2?2=JD:D*9646?EC2=


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286@7

=23@C2E@CJC6DF=EDH:==364@>>F?:42E65E@E96:?G6DE:82E@C2?5E96564:D:@?E@EC62EH:E92?E:3:@E:4DH:==36
32D65FA@?E96:?G6DE:82E@CND2DD6DD>6?E
?:?56A6?56?E52E2D276EJ2?5>@?:E@C:?84@>>:EE66)#H:==C6G:6HF?3=:?565D276EJ52E2E9C@F89
C6G:6H@7DFDA64E65F?6IA64E65D6C:@FD25G6CD6C624E:@?D)+)(D2DE96J@44FC2DH6==2D>@?E9=J
C6G:6H@73=:?565)2?5)=:DE:?8D
*96D4965F=6@72DD6DD>6?ED2?5AC@465FC6D:DAC@G:565:?*23=6

  
*9:DDEF5JH:==6?C@==2AAC@I:>2E6=J
DF3;64EDC2?5@>:K65:?2

C2E:@36EH66?)(
	2?5A=2463@
#)'744)16
 
*@366=:8:3=67@C6?C@==>6?E2DF3;64E>FDE>66E2==E967@==@H:?84C:E6C:2367@C6F?56C8@:?82?JDEF5J
C6=2E65AC@465FC6D

 ):8?65 :?7@C>65 4@?D6?E AC:@C E@ :?:E:2E:@? @7 2?J DEF5JDA64:7:4 AC@465FC6 @C EC62E>6?E *96
DF3;64E@CE96:C=682==J2FE9@C:K65C6AC6D6?E2E:G6>FDE36H:==:?8E@AC@G:56HC:EE6?:?7@C>65
4@?D6?E2?5F?56CDE2?5E96A@E6?E:2=C:D<D2?536?67:ED7C@>DEF5J6?C@==>6?E2?5EC62E>6?E
 #2=6@C76>2=6DF3;64EM
J62CD@7286
 BF2=:7J:?86A:D@56@72D567:?653J
2
MF?7@C>65DE@@=DA6C52J7@C4@?D64FE:G652JD
3 A@D:E:G6
		

DE@@=E@I:?2DD2J@4F>6?E2E:@?@72A@D:E:G6
		

DE@@=E6DEC6DF=E
AC676C23=JA6C7@C>653J246?EC2==23@C2E@CJD66"23@C2E@CJ#2?F2=:DC6BF:C657@CDF3;64ED
6?E6C:?8E96DEF5J
4
*96C6BF:C6>6?E@7)%2?E:3:@E:4E96C2AJ567:?652D
	E@
52JD@7EC62E>6?EH:E9
G2?4@>J4:?/
>8'02?5@C7:52I@>:4:?/		>80$@E6E:D2446AE23=6:7DF3;64E
H2DDE2CE65@?>6EC@?:52K@=6DH:E4965E@G2?4@>J4:?@C7:52I@>:4:?2?5:DEC62E657@C2
>:?:>F>@7
	52JD@7G2?4@>J4:?@C7:52I@>:4:?H:E92E@E2=EC62E>6?E:?4=F5:?852JD@?
>6EC@?:52K@=65FC2E:@?@7FAE@2>2I:>F>@7
52JD
5 ?256BF2E64=:?:42=C6DA@?D67@==@H:?8)%2?E:3:@E:4E96C2AJ567:?652DF?7@C>65
DE@@=D:?9@FCD7@C@C>@C64@?D64FE:G652JD367@C6C2?5@>:K2E:@?
6
*96C6BF:C6>6?EE92EE96DF3;64E42?365@D65H:E9DEF5J5CF8H:E9:?52JD@7)%2?E:3:@E:4
4@>A=6E:@?
 M  6A:D@56D @7  H:E9:? E96 AC6G:@FD 
 >@?E9D :?4=FD:G6 @7 E96 4FCC6?E 6A:D@56 H:E9
5@4F>6?E659:DE@CJ@7M6A:D@56D:?4=FD:G6@7E964FCC6?EBF2=:7J:?86A:D@56:?4=F5:?8
2
2E6DE6DEC6DF=ED2?52?E:3:@E:4EC62E>6?EDC646:G6577@CEDD9@F=536>256E@24BF:C69:DE@CJ
@7255:E:@?2=6A:D@56D36J@?5E96C6BF:C655@4F>6?E656A:D@56D:?4=F5:?852E6DE6DE
C6DF=ED2?52?E:3:@E:4EC62E>6?EDC646:G65
 776>2=6DF3;64E:D?@?=24E2E:?82?5:D6:E96C
2
$@E@749:=5362C:?8A@E6?E:2=567:?652DA@DE>6?@A2FD2=7@C2E=62DE
J62C@CDFC8:42==JDE6C:=6
5F6E@3:=2E6C2=EF32==:82E:@?3:=2E6C2=@@A9@C64E@>J@C9JDE6C64E@>J
3 %749:=5362C:?8A@E6?E:2=2?5:DAC24E:4:?82E=62DE
9:89=J67764E:G6>6E9@5@73:CE94@?EC@=
:?4=F5:?8E9632CC:6C>6E9@5@C2=@CA2C6?E6C2=4@?EC246AE:G6D2G2D64E@>:K65A2CE?6C@C
23DE:?6?467C@>D6IF2=:?E6C4@FCD6*96:?G6DE:82E@CH:==5:D4FDDH:E9E96DF3;64EE96@AE:@?@7
AC24E:4:?8>@C6E92?
@7E9623@G6>6E9@5D7@CE965FC2E:@?@7E96DEF5J
 7>2=62?5A2CE?6C:D@749:=5362C:?8A@E6?E:2=DF3;64E28C66DE@AC24E:462E=62DE
9:89=J67764E:G6
>6E9@5@73:CE94@?EC@=7@CE965FC2E:@?@7E96DEF5J

 74FCC6?E=JE2<:?8AC@3:@E:4D>FDE36H:==:?8E@DE@A2EE:>6@74@?D6?E7@CE965FC2E:@?@7E96
DEF5J
."+)%$(*(
DF3;64EH:==?@E366?C@==65:7E96DF3;64E>66ED2?J@7E967@==@H:?84C:E6C:2

 6>2=6DF3;64EDH9@2C6AC68?2?E3C62DE7665:?8=24E2E:?8@CA=2??:?8E@364@>6AC68?2?E5FC:?8
E96DEF5J
 !?@H?@CDFDA64E65E@I:4>6824@=@?2?5@C<?@H?D>2==3@H6=:=6FD


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286

@7

E@E2=@7LH66<D:?4=F5:?82LH66<)4C66?:?8&6C:@52?5H66<77:424J&6C:@52?52
H66<
@==@H+A&6C:@5

?2=JD:D&@AF=2E:@?D
?E6?EE@*C62E&@AF=2E:@?
*96?E6?EE@*C62E**&@AF=2E:@?H:==4@?D:DE@72==DF3;64EDH9@H6C6C2?5@>:K65:?4=F5:?8E9@D6H9@
H6C6 ?@E 6IA@D65 E@ 2?J DEF5J 5CF8 2?5 H:== 36 2?2=JK65 32D65 @? E96 EC62E>6?E E@ H9:49 E96J H6C6
C2?5@>=J2DD:8?65)F3;64EDC2?5@>:K65FD:?87@C465C2?5@>:K2E:@?H:==362?2=JK65244@C5:?8E@E96
@C:8:?2= EC62E>6?E 2C> E96J H6C6 C2?5@>:K65 E@ 2?5 ?@E E96 @?6 32D65 @? E96 7@C465 C2?5@>:K2E:@?
2=8@C:E9>*96AC:>2CJ677:424JA@AF=2E:@?:DE96**&@AF=2E:@?
#@5:7:65?E6?EE@*C62E&@AF=2E:@?
*96#@5:7:65**>**&@AF=2E:@?H:==4@?D:DE@72==DF3;64EDH9@H6C6C2?5@>:K652?5C646:G652?J
2>@F?E@7DEF5J5CF8H9@D6H2D4=:?:42==J4@?EC@==653J2?E:3:@E:4EC62E>6?E367@C6C646:G:?8DEF5J
5CF82?5H9@92G62E=62DE
A@DE32D6=:?66G2=F2E:@?2E27C@>E96>**&@AF=2E:@?H:==362?2=JK65
32D65 @? E96 EC62E>6?E E@ H9:49 E96J H6C6 C2?5@>=J 2DD:8?65 )F3;64ED C2?5@>:K65 FD:?8 7@C465
C2?5@>:K2E:@?H:==362?2=JK65244@C5:?8E@E96@C:8:?2=EC62E>6?E2C>E96JH6C6C2?5@>:K65E@2?5?@EE96
@?632D65@?E967@C465C2?5@>:K2E:@?2=8@C:E9>
&6C&C@E@4@=&@AF=2E:@?
*96&6C&C@E@4@=&&&@AF=2E:@?H:==4@?D:DE@7DF3;64ED7C@>E96>**&@AF=2E:@?H9@5@?@E92G62?J
>2;@C AC@E@4@= 56G:2E:@?D @C465 C2?5@>:K2E:@?D 2C6 4@?D:56C65 E@ 36 >2;@C AC@E@4@= 56G:2E:@?D 2?5
E96C67@C6DF3;64EDH9@2C6C2?5@>:K65FD:?87@C465C2?5@>:K2E:@?H:==366I4=F5657C@>E96&&&@AF=2E:@?
*96&&&@AF=2E:@?H:==3656E2:=65:?E96)E2E:DE:42=?2=JD:D&=2?)&2?5567:?65367@C6F?3=:?5:?8@7
E9652E2
)276EJ&@AF=2E:@?
*96)276EJ&@AF=2E:@?H:==4@?D:DE@72==C2?5@>=J2DD:8?65DF3;64EDH9@C646:G652?J2>@F?E@7DEF5J5CF8
)F3;64EDH:==362?2=JK65244@C5:?8E@E96EC62E>6?EE96J24EF2==JC646:G65C2E96CE92?E92EE@H9:49E96J
H6C6C2?5@>=J2DD:8?65?E96D2>6>2??6CDF3;64EDH9@2C6C2?5@>:K65FD:?87@C465C2?5@>:K2E:@?H:==
362?2=JK65244@C5:?8E@E96EC62E>6?EE96J24EF2==JC646:G65==D276EJ2?2=JD6DH:==364@?5F4E6532D65
@?E96)276EJ&@AF=2E:@?
67(:1(32-165
4-0%4:**-'%':1(32-16
•
(64FCC6?46@72D56E6C>:?653J2E@I:?2DD2JFAE@H66<D27E6C:?:E:2E:@?@7EC62E>6?E
)'21(%4:**-'%':1(32-165
•
(64FCC6?46@72D56E6C>:?653J2&(2=8@C:E9>FAE@H66<D27E6C:?:E:2E:@?@7EC62E>6?E
•
*:>6E@C64FCC6?46@77C@>:?:E:2E:@?@7EC62E>6?E2D56E6C>:?653J2E@I:?2DD2J
•
*:>6E@C64FCC6?46@77C@>:?:E:2E:@?@7EC62E>6?E2D56E6C>:?653J&(2=8@C:E9>
•
(64FCC6?46@72D56E6C>:?653J2E@I:?2DD2JFAE@
2?5H66<D27E6C:?:E:2E:@?@7
EC62E>6?E:?6249EC62E>6?E8C@FA
•
(64FCC6?46@72D56E6C>:?653J2&(2=8@C:E9>FAE@
2?5H66<D27E6C:?:E:2E:@?
@7EC62E>6?E:?6249EC62E>6?E8C@FA
•
(64FCC6?46@7FAE@H66<D27E6C:?:E:2E:@?@7EC62E>6?E:?6249)(
	5@?@C=@E2?5
:?E96A=2463@8C@FA
93/24%624:**-'%':1(32-165


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286
@7

•
92?86:?E964@>A@D:E:@?@7E968FE>:4C@3:@>67C@>2D6=:?6FAE@
2?5H66<D
27E6C:?:E:2E:@?@7EC62E>6?E
•
92?86:?E967642=>6E23@=@>67C@>2D6=:?6FAE@
2?5H66<D27E6C:?:E:2E:@?@7
EC62E>6?E
•
?4:56?46@7>@CE2=:EJ7C@>2==42FD6DFAE@2?5H66<D27E6C:?:E:2E:@?@7EC62E>6?E
•
?4:56?46 @7 9@DA:E2=:K2E:@?D 7@C C64FCC6?E  FA E@  2?5  H66<D 27E6C :?:E:2E:@? @7
EC62E>6?E
•
?4:56?46@72==9@DA:E2=:K2E:@?DFAE@2?5H66<D27E6C:?:E:2E:@?@7EC62E>6?E
•
*@E2==6?8E9@7DE2J52JD@79@DA:E2=:K2E:@?:?4=F5:?852JD:?E96:?E6?D:G642C6F?:EFAE@
2?5H66<D27E6CEC62E>6?E:?:E:2E:@?7@CDF3;64ED9@DA:E2=:K65
•
92?86D7C@>2D6=:?6:?62=E9(6=2E65'F2=:EJ@7":76('@"2?5962=E9@FE4@>6D2D
2DD6DD653JE96'"7C@>2J
E9C@F89-66<D2?52?52DD6DD653JE965:77
('@"7C@>2J
E@-66<
2?5-66<@C2EE96*@C(64FCC6?46,:D:EAC:@CE@-66<
27E6C:?:E:2E:@?@7EC62E>6?E
%*)6:1(32-165
•
?4:56?46@7D
•
"23@C2E@CJ6G2=F2E:@?C6DF=ED
•
,:E2=D:8?>62DFC6>6?ED
•
&9JD:42=6I2>:?2E:@?7:?5:?8D
1%/:5-52*4-0%4:**-'%':1(32-16
*96AC:>2CJ677:424J@FE4@>6>62DFC67@CE9:DDEF5JH:==36E96C6=2E:G6C:D<((@7C64FCC6?46@7
)(
	E@A=2463@*96AC:>2CJ677:424J6?5A@:?E2?2=JD:DH:==3632D65@?E96@49C2?#2?E6=26?DK6=
#E6DEDEC2E:7:653J2862?52?E:3:@E:4D7@CE96BF2=:7J:?86A:D@56
*96#6DE:>2E6@7E964@>>@?C6=2E:G6C:D<DEC2E:7:653J2862?532D6=:?6EJA6@72?E:3:@E:4DH:==36
C6A@CE65*964@?7:56?46:?E6CG2=7@CE964@>>@?((H:==36@3E2:?65FD:?8E96C66?=2?52?5(@3:?D
G2C:2?466DE:>2E67@CE96?2EFC2==@82C:E9>@7E964@>>@?((
7/6-3/-'-6:(.7560)16*24)56-1+6,)4-0%4:**-'%':1(32-16*242<%1(2<
		

5;FDE>6?ED7@C>F=E:A=6E6DE:?8H:==36>2567@CE6DE:?8E96AC:>2CJ677:424J6?5A@:?E
*@>2:?E2:?2?@G6C2==
D:565		EJA66CC@CC2E6E967:I65D6BF6?46E6DE:?8>6E9@5H:==36FD65*6DE:?8
@7E969JA@E96D6D:?E96**A@AF=2E:@?H:==36@C56C65:?E967@==@H:?8>2??6C
•

((M
	
•
((M	
*96E6DE:?8AC@465FC6H:==AC@46652D7@==@HD
•

((M
	H:==36E6DE652EE96
D:565		P=6G6=77@F?5E@36DE2E:DE:42==JD:8?:7:42?E2E
E9:DP=6G6=E96?((M	H:==36E6DE652EE96
D:565		P=6G6=
@H6G6C:7E96AC:>2CJ677:424J6?5A@:?E72:=DE@6DE23=:D9DFA6C:@C:EJ:6
((M
	:D?@ED:8?:7:42?E
2EE96
D:565		P=6G6=E96?E6DE:?8@7E96?6IE9JA@E96D:D:?E9:DD6BF6?46H:==?@EAC@46652?5
DE2E:DE:42=4@?4=FD:@?D23@FEE9:D9JA@E96D:DH:==?@E36>256


)6C6D*96C2A6FE:4D?4
%$$*"
&C@E@4@=)()	



>6?5>6?E2E6
	AC:=		

&286
@7

$@@E96C25;FDE>6?EDH:==36>2567@CE6DE:?8@72==@E96C6?5A@:?ED:?E96DEF5J



&4A4B'74A0?4DC82B=2
"!!'
#A>C>2>;&%&	



<4=3<4=C0C4
	?A8;		

#064
>5

8 '74BC>>;B0<?;42>;;42C43>=0H
B7>D;3142>;;42C43?A8>AC>C741>F4;2;40=B40=3<0H141A>D67CC>C74BCD3HB8C45>AC740H
E8B8C'74BC>>;B0<?;4B
2>;;42C43>=*44:8=2;8=82E8B8C<0H142>;;42C430C7><4?A8>AC>C74E8B8C0=31A>D67CC>C74BCD3HB8C45C74BD1942C8BD=01;4C>1A8=6C74B0<?;4C>C74
BCD3HB8C40C0=H>C74AE8B8C02>DA84A<0H140AA0=643C>?82:D?C74B0<?;40CC74BD1942CB7><40=31A8=68CC>C74BCD3HB8C4
9 >ABD1942CBB2A44=433DA8=6>A05C4A2><?;4C8>=>5&"0=C818>C82B455>ACBB7>D;314<034C>>1C08=C74BC>>;B0<?;4DB43C>3806=>B4C74@D0;85H8=64?8B>34>5
5>AA81>CH?8=65B0<?;48BD=0E08;01;40?>AC8>=>5C74BC>>;B0<?;42>;;42C43?A8>AC>C741>F4;2;40=B4>=0H
B7>D;314DB435>AA81>CH?40=0;HB8B
: 0H8=2;D348=2;8=82E8B8C>A7><4E8B8C
; 3<8=8BC4A85?A8>AC>*44:E8B8C
<&D1942CBF8C702>=58A<43A42DAA4=24?A8>AC>*44:05C4A8=8C80C8>=>5CA40C<4=C<0H4=A>;;8=C74&%&	
>?4=;014;4GC4=B8>=BCD3H854;8681;405C4A
2><?;4C8>=>5C74%42DAA4=24E8B8C0=33>2D<4=C0C8>=>52;8=820;A4B?>=B4C>?A>C>2>;38A42C430=C818>C82C74A0?H
	C>
30HB>5CA40C<4=CF8C7E0=2><H28=
.
<6$/>A5830G><828=.		<6/BB4BB<4=CB?4A5>A<433DA8=6C74%42DAA4=24E8B8C<0H14DB435>AC74&2A44=8=6;01B5>A&%&	
&D1942CB
F7>3>=>C4=A>;;8=C74&%&	
BCD3H>ABD1942CBF8C702>=58A<43A42DAA4=2405C4A*44:B7>D;32>=C8=D4C>145>;;>F435>AB054CH0BB4BB<4=CBC7A>D67
*44:
='74B40BB4BB<4=CBB7>D;31403343C>C74%42DAA4=24)8B8C5>ABD1942CBF7>0=C828?0C44=A>;;<4=C8=C74&%&	
?A8>AC>0*44:)8B8C8=&%&	
C>
2><?;4C4C745D;;B4C>5&2A44=8=60BB4BB<4=CBA4@D8A435>A4=A>;;<4=C8=&%&	
'74B4?A>243DA4B0A4=>CA4@D8A435>ABD1942CB=>C148=6&2A44=435>A4=CAH
8=C>&%&	
BD270BC7>B4BD1942CB70E8=60%42DAA4=24)8B8C4E0;D0C8>=05C4ABCD3HF44:
>'E8B8CC>142>=3D2C43>=BD1942CBF8C73A0F8=65A><BCD3H>=;H=HBD1942CBDB?42C43>570E8=60=4?8B>34>5?4A?A>C>2>;3458=8C8>=JD=5>A<43
BC>>;B?4A30H>E4A2>=B42DC8E430HBF8;;140B:43C>2>=C02CC748=E4BC860C>A0=3A4CDA=C>C742;8=825>A0%42DAA4=24)8B8CC>8=2;D343855828;4BC>>;C4BC0=3
4E0;D0C8>=5>AA42DAA4=24>5
?B=424BB0AH5>AB054CH>5BD1942CBCD3HE8B8CB8=2;D38=6"$!&!#<0H142>=3D2C43A4<>C4;H0CBD1942CKB7><4
F8C7@D0;85843=DAB4>AB8C4?4AB>==4;F7>F8;;140??A>?A80C4;H3>2D<4=C43>=C74B8C4KB34;460C8>=;>6C>?4A5>A<C74B4%4<>C4&CD3H)8B8CB0=30BB>280C43
?A>243DA4B >385820C8>=3D4C>")
?0=34<8250=DAB4>AB8C4?4AB>==4;20==>C?4A5>A<C74E8B8CB0C4;4?7>=420;;>A0E834>2>=54A4=24->><
&:H?4024'8<44C2B7>D;3142>=3D2C438=?;024>5C74*44:*44:(=B2743D;430=3%42DAA4=240A;H'4A<8=0C8>=E8B8CB0=3<DBC143>2D<4=C438=
C74B>DA24=HA4@D8A43?A>243DA4B=>C?4A5>A<433DA8=60A4<>C4E8B8C0CC74BD1942CKB7><4F8;;143>2D<4=C430B0?A>C>2>;34E80C8>=1HB8C4BC055
@F74=E8B8CB0A42>=3D2C43>E4AC74?7>=4CA0=B2A8?C8>=>5C74$<0H14?4A5>A<43>E4AC74?7>=41HB8C4BC055'7438B2DBB8>=F8C7C74BD1942C<DBC
143>2D<4=C438=B>DA2458;4B >385820C8>=3D4C>")
?0=34<82





0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


&!! & &%%&!&% %&!
'$%
&!! & &%

-/,1, ,)06+,-0&0

1)",# ,+1"+10
)&01,#1)"0
+!)&01,##&$2/"0

)&01,# /,+6*0
/"3&1&,+0
+!!"#&+&1&,+0,#
1"/*0

&+1/,!2 1&,+

0OGG;LSI@ FCHC=;F"@@C=;=S;H>0;@?NS

/;NCIH;F?

/;NCIH;F?@IL!IM?;H>1L?;NG?HN/?ACG?H

/;NCIH;F?@IL"H>JICHNM;H>!C;AHIMNC= LCN?LC;

012!6,3"/3&"4

1LC;F IH>O=N

012!6,'" 1&3"0

-LCG;LS"@@C=;=S,<D?=NCP?

0?=IH>;LS"@@C=;=S,<D?=NCP?M

-LCG;LS0;@?NS,<D?=NCP?

"RJFIL;NILS,<D?=NCP?M

012!6"+/,))*"+1+!4&1%!/4)

&H=FOMCIH LCN?LC;

"R=FOMCIH LCN?LC;

0O<D?=N*IHCNILCHA;H>4CNB>L;Q;F

/?;MIHM@IL4CNB>L;Q;F

%;H>FCHAI@4CNB>L;Q;FM;H>!CM=IHNCHO;NCIHMI@1L?;NG?HN

)IMNNI#IFFIQOJ

1?LGCH;NCIHI@0NO>S

&+3"01&$1&,+)-/,!2 1

0"/

!IHIL0=L??HCHA

*;HO@;=NOLCHA


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


-F;=?<I

0"/;H>-F;=?<I(CNM0NIL;A?;H>%;H>FCHA

 IGJFC;H=?

*?NBI>I@MMCAHCHA0O<D?=NMNI0NO>S1L?;NG?HN

*;CHN;CHCHANB?/;H>IGCT;NCIH I>?M;H>L?;ECHANB?0NO>SFCH>

 IH=IGCN;HN*?>C=;NCIHM

-LIBC<CN?> IH=IGCN;HN*?>C=;NCIHM-LI=?>OL?M

 LCN?LC;@IL IH@CLG?>/?=OLL?H=?-IMN/;H>IGCT;NCIH

012!6-/, "!2/"0

!OL;NCIHI@-;LNC=CJ;NCIH

*?>C=;F%CMNILS

-BSMC=;F"R;GCH;NCIH

I>S4?CABN;H>%?CABN

3CN;F0CAHM

);<IL;NILSMM?MMG?HNM

%?G;NIFIAS;H><FII>=B?GCMNLS

2LCH;FSMCM

-L?AH;H=S1?MNCHA

0NIIF0;GJF? IFF?=NCIH;H>H;FSMCM

CIFIAC=;F0J?=CG?H IFF?=NCIH@IL#ONOL?CIG?>C=;F/?M?;L=B

*IHCNILCHAI@!C;LLB?;F0SGJNIGM;H>$?H?L;F%?;FNB

%?;FNB,ON=IG?MM?MMG?HN

.O;FCNSI@)C@?MM?MMG?HN

 FCHC=;F/?MJIHM?"P;FO;NCIH

012!60 %"!2)"

0=L??HCHA-?LCI>

 FCHC=3CMCN!;SNI!;S

-L?NL?;NG?HN-L?J;L;NCIH-BIH? ;FF3CMCN!;SNI

-L?NL?;NG?HN-L?J;L;NCIH-BIH? ;FF3CMCN!;S

"@@C=;=S-?LCI>

 FCHC=3CMCN!;S

?@IL?>GCHCMN?LCHA0NO>S!LOA-L?>IM?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


>GCHCMN?LCHA0NO>S!LOA

@N?L>GCHCMN?LCHA0NO>S!LOA-IMN>IM?

 FCHC=3CMCNIL-BIH? ;FF!;S

 FCHC=3CMCNIL-BIH? ;FF!;S

-BIH? ;FF3CMCN4??E

 FCHC=IL%IG?3CMCN-BIH?=;FF4??E

-BIH? ;FF3CMCNM4??EM

"H>I@"@@C=;=S-?LCI> FCHC=3CMCN4??E

#IFFIQOJ-?LCI>

-BIH? ;FF3CMCNM"P?LS4??EM

-BIH? ;FF3CMCN0NO>S IGJF?NCIH4??E

/?=OLL?H=?;H>";LFS1?LGCH;NCIH"13CMCNM

00"00*"+1,#0#"16+!!3"/0""3"+1/"-,/1&+$

0?LCIOM>P?LM?"P?HN/?JILNCHA

011&01& )*"1%,!0

0NO>S"H>JICHNM

-LCG;LS"@@C=;=S"H>JICHN

0?=IH>;LS"@@C=;=S"H>JICHNM

"RJFIL;NILS"@@C=;=S"H>JICHNM

0;@?NS"H>JICHNM

H;FSMCM-IJOF;NCIH

!?N?LGCH;NCIHI@0;GJF?0CT?

4??E"@@C=;=S;H>0;@?NS!;N;H;FSMCM

$?H?L;F0N;NCMNC=;F IHMC>?L;NCIHM

0O<D?=N-IJOF;NCIHM;H>;M?FCH? B;L;=N?LCMNC=M

0NO>S!LOA"RJIMOL?

"@@C=;=SH;FSMCM

*OFNCJFC=CNS>DOMNG?HNM

-LCG;LS"@@C=;=SH;FSMCM

>>CNCIH;FH;FSM?MI@NB?-LCG;LS"@@C=;=S"H>JICHN

0?=IH>;LS"@@C=;=SH;FSM?M

H;FSM?MI@0?=IH>;LS"H>JICHNM


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


"RJFIL;NILSH;FSMCM

0;@?NSH;FSMCM

%;H>FCHAI@*CMMCHA!;N;

!*&+&01/1&3"/".2&/"*"+10

$II> FCHC=;F-L;=NC=?

1LC;F$IP?LH;H=?;H>,P?LMCABN

"NBC=;F IHMC>?L;NCIHM

0O<D?=N&H@ILG;NCIH;H>&H@ILG?> IHM?HN

0O<D?=N IH@C>?HNC;FCNS

-LINI=IF IGJFC;H=?

#ONOL?2M?I@0NIL?>0J?=CG?HM

0NO>S*IHCNILCHA

 ;M?/?JILN#ILGM;H>0NO>S/?=IL>M

0NO>S IGJF?NCIH

)&01,#/"#"/"+ "0

%&!&%
1;<F?
0=B?>OF?I@MM?MMG?HNM;H>-LI=?>OL?M







0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


%&!$! *%$(&! %  &! %
!&$%
"
>P?LM?"P?HN
"0&
>P?LM?"P?HNI@0J?=C;F&HN?L?MN
*&
I>S*;MM&H>?R
  +
 ?FF SNINIRC=CNS+?ONL;FCT;NCIHMM;S
 !&
CH@?=NCIH
 >C@@%/.I)
 !C@@%?;FNB/?F;N?>.O;FCNSI@)C@?0OLP?S
 #/
 I>?I@#?>?L;F/?AOF;NCIHM
 &
 IH@C>?H=?CHN?LP;F
 )&
 FCHC=;F);<IL;NILS&GJLIP?G?HNG?H>G?HN
 *%
 I=BL;H*;HN?F%;?HMT?F
!/$
!C;AHIMCML?F;N?>ALIOJ
!0* 
!;N;0;@?NS*IHCNILCHA IGGCNN??
? /#
?F?=NLIHC= ;M?/?JILN#ILG
"&/
?RJIMOL?;>DOMN?>CH=C>?H=?L;N?M
"&
"HTSG?CGGOHI;MM;S
"1
";LFS1?LGCH;NCIH
".!)
"OLI.IF!CG?HMCIHM)?P?F
#!
#II>;H>!LOA>GCHCMNL;NCIH
#*1
#?=;FGC=LI<CIN;NL;HMJF;HN;NCIH
$ -
$II> FCHC=;F-L;=NC=?
$!%
$FON;G;N?>?BS>LIA?H;M?
$&
$;MNLICHN?MNCH;F
%/.I)
%?;FNB/?F;N?>.O;FCNSI@)C@?
&0
&LLCN;<F?IQ?F0SH>LIG?
& #
&H@ILG?> IHM?HN#ILG
& %
&HN?LH;NCIH;F IH@?L?H=?IH%;LGIHCM;NCIH
&" 
&H>?J?H>?HN"NBC=M IGGCNN??
&/
&HMNCNONCIH;F/?PC?QI;L>
&0 
&H>?J?H>?HN0N;NCMNC=;F ?HN?L
&11
&HN?HNNI1L?;N
&R/0
&HN?L;=NCP?PIC=?;H>Q?<L?MJIHM?MSMN?G
*?>!/
*?>C=;F!C=NCIH;LS@IL/?AOF;NILS=NCPCNC?M
G&11
GI>C@C?>&HN?HNNI1L?;N
,12
,J?L;NCIH;FN;RIHIGC=OHCN
- /
-IFSG?L;M? B;CH/?;=NCIH
--
-?L-LINI=IF
/ !&
/?=OLL?HNCH@?=NCIH
//
/?F;NCP?LCME
0"
0?LCIOM;>P?LM??P?HN
0"/
0?LCIOM;>P?LM??P?HNL?JILN
0-
0N;NCMNC=;FH;FSMCM-F;H




0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

0, 
0N;H>;L>I@=;L?


1""
1L?;NG?HN?G?LA?HN;>P?LM??P?HN
2)+
2JJ?LFCGCNI@HILG;F
4, -
4IG?HI@=BCF><?;LCHAJIN?HNC;F


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


 &$!'&! 
  CM ; MJIL? @ILGCHA $L;G JIMCNCP? ;H;?LI<? JL?M?HN NBLIOABION NB?
?HPCLIHG?HN;H>
CHFIQ;GIOHNM
=;H<?;=IGJIH?HNI@NB?AON@FIL;I@;B?;FNBSCH>CPC>O;F
CH@?=NCIH !&OMO;FFS>?P?FIJMCHJ;NC?HNMQCNB;BCMNILSI@;HNC<CINC=OM?
NB;N>?JF?N?MNB?HILG;FAON@FIL;
?H;<FCHANI=IFIHCT?;H>JLIFC@?L;N?QCNBCHNB?=IFIH

?F;<IL;NCHA PCLOF?HN NIRCHM ;H>  1B?M? NIRCHM CHP;>? ?JCNB?FC;F =?FFM >CMLOJNCHA NB?CL
=SNIME?F?NIH
L?MOFNCHACH>;G;A?NINB??JCNB?FC;F<;LLC?L;H>JLIGINCHAGO=IM;FCH@F;GG;NCIH
1B?=FCHC=;FG;HC@?MN;NCIHMI@ !&P;LS<LI;>FS
L;HACHA@LIGHOCM;H=?>C;LLB?;F;MNCHA;@?Q
>;SM
 NI GIL? JLIHIOH=?> >CM?;M? QCNB M?P?L? =IFIHC= CH@F;GG;NCIH NB;N =;H >?P?FIJ CHNI
JM?O>IG?G<L;H?IOM=IFCNCMQCNB;MMI=C;N?>MSMN?GC=NIRC=CNSL?KOCLCHAFC@?M;PCHA=IF?=NIGS
4CNB?P?LCH=L?;MCHAOM?I@;HNC<CINC=M
J;LNC=OF;LFSCHNB?;ACHAJIJOF;NCIHMCHBIMJCN;FM;H>CH
HOLMCHA BIG?M
 NB? CH=C>?H=? I@ ;MMI=C;N?> >CM?;M? B;M <??H CH=L?;MCHA MO=B NB;N
CMNB?F?;>CHA=;OM?I@HIMI=IGC;FCH@?=NCIHCHNB?2HCN?>0N;N?M201B? ?HN?LM@IL
!CM?;M? IHNLIF;H>-L?P?HNCIH?MNCG;N?NB;N=;OM?M>C;LLB?;FCHE?>NI;JJLIRCG;N?FS

G?LC=;H >?;NBM ?;=B S?;L )?MM; ?N ;F
  &H  ;H;>;
 NB?L? ;L? ;JJLIRCG;N?FS

 !&?JCMI>?M?;=BS?;LI@NB?M?;L?L?F;JM?M)?PS
&HNB?
"OLIJ?;H2HCIH"2
NB?HOG<?LI@L?JILN?>=;M?MI@ !&B;M;FMICH=L?;M?>CHL?=?HNS?;LM
;H>
CM?MNCG;N?>NI;@@?=N
J;NC?HNMJ?LS?;L
MJIL?M=;HMOLPCP?@ILGIHNBMCHBIMJCN;FM;H>FIHAN?LG=;L?@;=CFCNC?MQB?L?
NB?S=;H=;OM?L?J?;N?> !&?JCMI>?M3CLNO;FFS;FF;HNC<CINC=MB;P?<??HCGJFC=;N?>CH;MMI=C;NCIH
QCNB !&1B?G?=B;HCMNC=FCHENI;HNC<CINC=OM?CM<;M?>IHNB?@CH>CHANB;N;B?;FNBSGC=LI<C;F
?=IFIAS L?MCMNM J;NBIA?H =IFIHCT;NCIH <S =IGJ?NCHA @IL HONLC?HNM ;H> L?MIOL=?M CH NB? AON
1B?LCIN?N;F
4?CHA;L>?H?N;F
HNC<CINC=OM?>CMLOJNMNB?GC=LI<CIN;;H>FC<?L;N?M
HONLC?HNMNB;N?H;<F?=IFIHCT;NCIH<S+A?N;F

1B?CH=C>?H=?I@L?=OLL?HN !&B;MJ;L;FF?F?>NB?CH=L?;M?>CH=C>?H=?I@JLCG;LSCH@?=NCIH !&
L?=OLM CH ;JJLIRCG;N?FS  I@ J;NC?HNM ;@N?L ;HNC<CINC= NL?;NG?HN @IL @CLMN NCG? >CM?;M?
;EE?H?N;F
!?J?MN?F;H>LIHI@@
0OL;QC=T?N;F
@N?LNB?@CLMNL?=OLL?HN
?JCMI>?
J;NC?HNM;L?;N;H?P?HBCAB?LLCME@ILMO<M?KO?HN !&
?MNCG;N?>NI<?;@N?LNB?
M?=IH>ILMO<M?KO?HN?JCMI>?%CA;;H>(?FFS
1B?L?;L?@?QJLIP?H
;JJLIP?>NB?L;J?ONC=
IJNCIHM@ILMCAHC@C=;HNFSL?>O=CHA !&L?=OLL?H=?CHJ;NC?HNMQCNBL?=OLL?HN !&0IG?J;NC?HNM
;L?NL?;N?>QCNB;HNC<CINC=MCH>?@CHCN?FSNI;PIC>J?LMCMN?HN>C;LLB?;;H>INB?LM?KO?F;?I@ !&
0"/CM;H"=I<CINC=®>LOA<?CHA>?P?FIJ?>@ILNB?NL?;NG?HNI@;>OFNMQCNBL?=OLL?HN !&
0"/CM;H?=IFIASI@<;=N?LC;CHMJIL?@ILG
?HLC=B?>@LIGMNIIF>IH;NCIHMI<N;CH?>@LIG
B?;FNBS
M=L??H?>>IHILM1B?<;=N?LC;FMJIL?M;L??HLC=B?><SNBILIOABECFFCHAI@NB?P?A?N;NCP?
GC=LIILA;HCMGM
NB?H@L;=NCIH;NCHANB?L?MOFNCHAMJIL?JIJOF;NCIH;Q;S@LIGCH;=NCP?=IGJIH?HNM
;H> @ILGOF;NCHA ;H> ?H=;JMOF;NCHA NB? MJIL?M @IL IL;F >?FCP?LS 0"/ CM ;>GCHCMN?L?> NI
MO<D?=NM;@N?L=IGJF?NCIHI@;=IOLM?I@;HNC<CINC=NB?L;JS@ILL?=OLL?HN !&
0"/B;M<??HMBIQHNIJL?P?HN !&;H>NINL?;NL?F;JM?CHHIH=FCHC=;FMNO>C?MCH
GC=?;H>B;GMN?LMM??&HP?MNCA;NIL[MLI=BOL?@ILGIL?CH@ILG;NCIH FCHC=;F?RJ?LC?H=?QCNB
0"/CH=FO>?MNBL??MNO>C?M;=IGJF?N?>IJ?HF;<?F
NQIJ;LNMNO>SCHMO<D?=NMQCNB;
BCMNILSI@ILGIL?I==OLL?H=?MI@ !&0"/"0;=IGJF?N?>>IO<F?<FCH>
JF;=?<I
=IHNLIFF?>
J;L;FF?FALIOJMNO>SCH;>OFNMQCNBL?=OLL?HN !&0"/"0;H>;H?RJ;H>?>
;==?MM @IL CHN?LG?>C;N?MCT? J;NC?HN JIJOF;NCIHM ;H> IJ?HF;<?F ?RN?HMCIH I@ MNO>S

(


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

L?F;NCP?LCMEI@L?=OLL?H=?CHMO<D?=NML?=?CPCHAJF;=?<IPM0"/
;>DOMN?>@IL;A?MNL;NOG
Q;M

QCNB;=ILL?MJIH>CHA &I@
,@NB?MO<D?=NMMNL;NC@C?>NINB?S?;LMI@
;A?MNL;N;
L?=OLL?H=?Q;MI<M?LP?>CHMO<D?=NML;H>IGCT?>NIL?=?CP?0"/;H>
MO<D?=NML;H>IGCT?>NIL?=?CP?JF;=?<I,@NB?MO<D?=NMMNL;NC@C?>NINB?WS?;LM
I@;A?MNL;N;
L?=OLL?H=?Q;MI<M?LP?>CHMO<D?=NML;H>IGCT?>NIL?=?CP?0"/
;H>MO<D?=NML;H>IGCT?>NIL?=?CP?JF;=?<I,P?L;FF
I@NB?MO<D?=NMQBIG?N
NB?JLCG;LS?H>JICHNI@ !&L?=OLL?H=?<S4??E
MO<D?=NM>CM=IHNCHO?>NB?MNO>S>O?NINB?CL
 !&L?=OLL?H=?JLCILNI4??E,@NB?MO<D?=NMQBI>CM=IHNCHO?>NB?MNO>S>O?NI; !&
L?=OLL?H=?JLCILNI4??E
?HLIFF?>CHNB?IJ?HF;<?F?RN?HMCIHMNO>S0"/"0
&H0NO>S0"/"0
;NIN;FI@I@NB?MO<D?=NML;H>IGCT?>
I@NB?
MO<D?=NM QBI L?=?CP?> 0"/ ;H>  I@ NB?   MO<D?=NM QBI L?=?CP?> JF;=?<I

?RJ?LC?H=?>;NF?;MN1""#C@N??HI@NB?MO<D?=NM
I@NB?MO<D?=NM
QBIL?=?CP?>0"/;H>I@NB?MO<D?=NMQBIL?=?CP?>JF;=?<I
?RJ?LC?H=?>;N
F?;MN1""NB;NQ;M=IHMC>?L?><SNB?CHP?MNCA;NILMNI<?>LOAL?F;N?>)CE?0NO>S0"/"0

NB?GIMN=IGGIHFSL?JILN?>0, Q;M$&>CMIL>?LMCHNB?0"/ALIOJ;H>CHNB?
-F;=?<IALIOJ1B?GIMN=IGGIHFSL?JILN?>CH=C>?H=?WJL?@?LL?>N?LGMCHNB?$&0, 
L?JILN?>CHMO<D?=NMQBIL?=?CP?>0"/Q?L?>C;LLB?;
;<>IGCH;FJ;CH
@F;NOF?H=?
H;OM?;
;H>
=IHMNCJ;NCIH1B?G;DILCNSI@1""MQ?L?GCF>ILGI>?L;N?CHM?P?LCNS0CRI@NB?
MO<D?=NMQBIL?=?CP?>0"/?RJ?LC?H=?>;H?P?HNNB;NB;M<??HL?JILN?>;MM?P?L?1Q?FP?I@
NB?MO<D?=NM?HLIFF?>MO<D?=NMQBIL?=?CP?>0"/89;H>MO<D?=NMQBI
L?=?CP?>JF;=?<I89B;P??RJ?LC?H=?>;NIN;FI@NL?;NG?HN?G?LA?HN0"M
HIH?I@QBC=B
Q?L?=IHMC>?L?>NI<?>LOAL?F;N?><SNB?CHP?MNCA;NIL,H?MO<D?=NB;>;H0"G?N;MN;NC=HIH
MG;FF=?FFFOHA=;H=?LNB;NQ;M@;N;F;H>F?>NIMNO>SQCNB>L;Q;F
0"/"0<?A;H;M;HIJ?HF;<?F?RN?HMCIHMNO>SI@0"/"0=IH>O=N?>CHNB?20
I@@?L?>
NIMO<D?=NMQBIL?=?CP?>;HCHP?MNCA;NCIH;FJLI>O=NCH0"/"0
<ONL?=OLL?>JLCILNIQ??EM
JIMNNL?;NG?HN &H JLCF 
 NB? MNO>S Q;M ;G?H>?> NI CH=FO>? ?RJ;H>?> ;==?MM to ;H
CHN?LG?>C;N?MCT?J;NC?HNJIJOF;NCIHI@;>OFNM
S?;LMI@;A?ILIF>?LQCNBL?=OLL?HN !&
@IL
QBIGNB?L?CMHI=IGJ;L;<F?IL;FN?LH;NCP?NB?L;JS0?P?HNSNBL??J;NC?HNM
QBI?HLIFF?>@LIG
0NO>S0"/"0;H>QBI?HLIFF?>OH>?L;H?RJ;H>?>;==?MMG?NNB??FCAC<CFCNS=LCN?LC;@IL
NB?MNO>S0"/"0MO<D?=NMQBI?HLIFF?>@LIGMNO>S0"/"0B;P?=IGJF?N?>NB?MNO>S
NB?MO<D?=NM?HLIFF?>OH>?L?RJ;H>?>;==?MM;L?=IHNCHOCHACHNB?MNO>S1B?JLCG;LS?@@C=;=S
I<D?=NCP?CMNI?P;FO;N? !&L?=OLL?H=?L;N?MCH;>OFNMOJNIQ??EMJIMNNL?;NG?HNQCNB0"/
1B?JLCG;LSM;@?NSI<D?=NCP?CMNI?P;FO;N?NB?M;@?NS;H>NIF?L;<CFCNSI@0"/CH;>OFNMQCNB
L?=OLL?HN  !& GIHA NB?  MO<D?=NM QBI ?HLIFF?> @LIG 0NO>S 0"/"0 ;H> QBI B;P?
=IGJF?N?>NB?MNO>S
L?=OLL?H=?I@ !&OJNIQ??EMJIMNNL?;NG?HNQCNB0"/Q;MI<M?LP?>
CHMO<D?=NM
-L?FCGCH;LS L?MOFNM @LIG NB? IHAICHA 0"/"0 MNO>S CH>C=;N? NB;N
 IP?L;FF
  ION I@ NB?
MO<D?=NM
@ILQBIGM;@?NS>;N;CM;P;CF;<F?
?RJ?LC?H=?>;NF?;MNNL?;NG?HN?G?LA?HN
0"+IH?I@NB?M?0"M;L?=IHMC>?L?>NI<?L?F;N?>NIMNO>SNL?;NG?HN,H?MO<D?=N?HLIFF?>
OH>?L NB? ?RN?HMCIH MNO>S ?RJ?LC?H=?> ; NIN;F I@  NL?;NG?HN?G?LA?HN 0"M #CP? I@ NB?M?
NL?;NG?HN?G?LA?HN0"ML?MOFN?>CH>?;NB ?L?<LIP;M=OF;L;==C>?HN
=IHA?MNCP?=;L>C;=@;CFOL?

GSI=;L>C;FCH@;L=NCIH
;MJCL;NCIHJH?OGIHC;
;H>NSJ?>C;<?N?MG?FFCNOMQ?L?L?JILN?>;MNB?
=;OM?I@>?;NB1B?GIMN=IGGIHFSL?JILN?>0, MB;P?<??H$&>CMIL>?LMCHNB??RN?HMCIHMNO>S
JIJOF;NCIH;H>&H@?=NCIHM;H>&H@?MN;NCIHMCHNB??RJ;H>?>;==?MMJIJOF;NCIH1B?GIMN=IGGIHFS


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

L?JILN?> CH=C>?H=? W JL?@?LL?> N?LGM IP?L;FF B;P? <??H >C;LLB?;
 ;<>IGCH;F J;CH

H;MIJB;LSHACNCM
 =IHMNCJ;NCIH
 @F;NOF?H=?
 H;OM?;
 ;H> OLCH;LS NL;=N CH@?=NCIH 1B? G;DILCNS I@
1""MB;P?<??HGCF>ILGI>?L;N?CHM?P?LCNS
1BOM
=FCHC=;F?RJ?LC?H=?NI>;N?MOAA?MNMNB;N0"/CMQ?FFNIF?L;N?>QCNB;H;==?JN;<F?M;@?NS
JLI@CF?,P?L;FF
NB?L?B;P?<??HHI>LOAL?F;N?>NL?;NG?HN?G?LA?HN0"M;H>NB?G;DILCNSI@
L?F;N?>1""MB;P?<??HGCF>ILGI>?L;N?CHM?P?LCNS;H>GIMN=IGGIHFS;MMI=C;N?>QCNBNB?
A;MNLICHN?MNCH;FNL;=N>>CNCIH;FCH@ILG;NCIHL?A;L>CHA=FCHC=;F?RJ?LC?H=?QCNB0"/=;H<?
@IOH>CHNB?&HP?MNCA;NIL[MLI=BOL?
FNBIOABM;@?NS>;N;QCNB0"/B;M<??HL?F;NCP?FS=IHMCMN?HN;=LIMMMNO>C?M
?@@C=;=S>;N;CH
NB?JF;=?<I=IHNLIFF?>0NO>S0"/"0Q;MCH=IHMCMN?HNQCNBL?MOFNM@LIGNB?IJ?HF;<?F0NO>S
0"/"0%SJINB?M?MNI?RJF;CHQBSNB?JLCG;LS?H>JICHNI@L?>O=CHANB?L?F;NCP?LCMEI@ !&
L?=OLL?H=?;NOJNIQ??EMQ;MHIN;=BC?P?>CH0NO>S0"/"0CH=FO>?NB;NNB?>C;AHIMNC=N?MN
@IL?HNLSG;SHINB;P?>C@@?L?HNC;N?>MO<D?=NMQCNB;=NCP? !&>CM?;M?@LIGNBIM?QCNB
=;LLC;A?1BCMQIOF>B;P?F?>NI?HLIFFCHAMO<D?=NMQBIG;SB;P?<??H?RJ?LC?H=CHAJIMN !&
CLLCN;<F?<IQ?FMSH>LIG?&0FCE?MSGJNIGM<ON
Q?L?IHFS=IFIHCT?><S;H>HIN;H
;=NCP? CH@?=NCIH
 NB? >C;AHIMNC= N?MN @IL L?=OLL?H=?M QBC=B JLCG;LCFS OM?> - / IP?L?MNCG;N?>
L?=OLL?H=?M
;H>;FNBIOAB;H;FSMCMI@NB?GC=LI<CIG?C>?HNC@C?>NB;N0"/CH0"/"0Q;M
<CIFIAC=;FFS;=NCP?
NB?>IM?;>GCHCMN?L?>CH-B;M?G;SH??>NI<?CH=L?;M?>@ILIJNCG;F?@@C=;=S
M??L;NCIH;F?<?FIQ

$+=398+6/
1B?L?;L?@?QJLIP?H
;JJLIP?>NB?L;J?ONC=IJNCIHM@ILMCAHC@C=;HNFSL?>O=CHA !&L?=OLL?H=?CH
J;NC?HNMQCNBL?=OLL?HN !&1B?;CGI@NBCMMNO>SCMNI@OLNB?L?P;FO;N?NB?M;@?NS;H>?@@C=;=SI@
0"/CHNB?NL?;NG?HNI@;>OFNMO<D?=NMS?;LMI@;A?ILIF>?LQCNBL?=OLL?HN !&
;M>?@CH?>
<S;BCMNILSI@W !&?JCMI>?QCNBCHGIHNBM
CH=FOMCP?I@NB?=OLL?HN?JCMI>?


$+=398+6/09;9</+8.&;/+=7/8=$/137/8
&HNBCMMNO>S
MO<D?=NMQCFFL?=?CP?;>IM?I@0"/

IL;>IM?I@G;N=BCHAJF;=?<IJ?L>;S@IL=IHM?=ONCP?>;SM1B?>IM?;H>NL?;NG?HNL?ACG?H
Q?L?=BIM?H<;M?>IHM?P?L;F@;=NILM
&H0NO>S0"/"0
MO<D?=NML?=?CP?>>IM?MI@0"/L;HACHA@LIG

ACP?HIP?LIH?ILNQI>;SMH;FSMCMI@=B;HA?MCHNB?MO<D?=NGC=LI<CIG?
>?GIHMNL;N?MNB;NMJIL?@ILGCHAMJ?=C?MLC=BH?MMCHNB?MO<D?=NM$&NL;=N;NQ??EQ;MJIMCNCP?FS
=ILL?F;N?>QCNB0"/>IM?&GJILN;HNFS
I@MO<D?=NMQBIL?=OLL?>CH0"/"0
;<ION
I@L?=OLL?H=?MCH<INBJF;=?<I;H>0"/;LGMB;JJ?H?><S!;S;H><S!;S

MN;LNCHA;M?;LFS;M!;S&H0"/"0
NB??HAL;@NG?HNI@0"/MJIL?@ILGCHA<;=N?LC;CH
NL?;N?>MO<D?=NM[A;MNLICHN?MNCH;FNL;=NMQ;MF?MMLI<OMN;H>F?MML;JC>;M=IGJ;L?>NINB;NI<M?LP?>
CH0"/"0
;FNBIOABCNQ;MMCAHC@C=;HNFSAL?;N?LNB;HNB?=B;HA?MCHJF;=?<INL?;N?>MO<D?=NM
"HAL;@NG?HNCGJLIP?>;NF;N?LNCG?JICHNM
<ON>O?NI?;LFSL?=OLL?H=?M
NB?0"/CH>O=?>
GC=LI<CIG?=B;HA?CH0"/"0G;SB;P?<??HNIIF;N?@LIG;NB?L;J?ONC=J?LMJ?=NCP?&H
;>>CNCIH
CNQ;MA?H?L;FFSI<M?LP?>NB;N=IGG?HM;FMJIL?@ILGCHAMJ?=C?MLC=BH?MM;NQ??EJIMN
>IMCHACM=ILL?F;N?>QCNB<?NN?L=FCHC=;FION=IG?&H;AAL?A;N?
NB?M?I<M?LP;NCIHM;L?=?HNL;FNI
NB?>?MCAHI@NB?JLIJIM?>L?ACG?HNB;NJLIPC>?M;BCAB?L>;CFS>IM?
L?J?;N?>>;CFS
IP?L>;SM@IFFIQCHANB?=IGJF?NCIHI@;HNC<CINC=M;M=IGJ;L?>NI>IMCHACH0"/"0!O?NI
(
)


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

NB? @;=N NB;N L?=OLL?H=? B;JJ?HM ?;LFS
 NB? MFIQ?L 0"/CH>O=?> GC=LI<CIG? =B;HA?M CH
0"/"0MOAA?MNNB;NNB?
Q;MFCE?FS<?FIQNB?L?KOCL?>;GIOHNNI
;=BC?P?;NB?L;J?ONC=L?MJIHM?1I;==IOHN@ILP;LC;NCIHMCH;HNC<CINC=Q;MBION
;H>NIJLIPC>?
>IMCHAJLCILNINB??;LFC?MNI<M?LP?>L?=OLL?H=?M
NBL??>IM?MQCFF<?;>GCHCMN?L?>IH!;SM
@IFFIQCHA;HNC<CINC==?MM;NCIH4?B;P?=BIM?H;NBL??@IF>BCAB?L>IM?F?P?F<;M?>IHNB?


 ;M ;H ;GIOHN =IGG?HMOL;N? QCNB ?HAL;@NG?HN LC=BH?MM NI NB? >?AL??
=ILL?F;NCHAQCNBJLIN?=NCIH;A;CHMNL?=OLL?H=?

$+=398+6/09;8.:938=<+8.	3+189<=3-;3=/;3+
1B?CHNLI>O=NCIHI@GIF?=OF;LN?MNM
QBC=B;L?GIL?M?HMCNCP?;H>>?N?=NGC=LI<C;F!+CHMN?;>
I@NIRCH
B;MF?>NIAL?;N?L>?N?=NCIHI@<ON>?N?=N<;=N?LC;L?A;L>F?MMI@NIRCH
JLI>O=NCIH 1BCM JB?HIG?HIH B;M =;FF?> CHNI KO?MNCIH QB?NB?L ; JIMCNCP? - / L?MOFN L?@F?=NM
=FCHC=;F>CM?;M?ILL?JL?M?HNM=IFIHCT;NCIH-IF;HA??N;F

1BOM
CH0"/"0
NB?>C;AHIMNC=N?MN@IL?HNLSG;SHINB;P?>C@@?L?HNC;N?>MO<D?=NMQCNB;=NCP?
 !&>CM?;M?@LIGNBIM?QCNB=;LLC;A?1BCMQIOF>F?;>NI?HLIFFCHAMO<D?=NMQBIG;S
<? ?RJ?LC?H=CHA ; JIMN !& CLLCN;<F? <IQ?F MSH>LIG? &0 C@ =IFIHCT?> <S   &0
@IFFIQCHA !&CML?JILN?>NII==OLCHOJNII@ !&J;NC?HNM4;>BQ;?N;F
1BCMQIOF>
B;P?>?=L?;M?>NB?JIQ?LI@NB?MNO>SNI>C@@?L?HNC;N?NB?NL?;NG?HN;LGM;MNBIM?MO<D?=NMQCNBION
;NLO?>C;AHIMCMI@/ !&;L?F?MMFCE?FSNIL?=OL
0CH=?- />C;AHIMNC=MCH0"/"0G;SB;P?F?>NIGCM=F;MMC@C=;NCIHI@MO<D?=NMQCNB>C;LLB?;
;H>   =IFIHCT;NCIH ;M L?=OLL?H=?
 NB? JLCG;LS ?@@C=;=S ?H>JICHN CH NBCM MNO>S CM NB?
L?=OLL?H=?I@ !&CHMO<D?=NMQBIL?=?CP?0"/ILJF;=?<IOMCHA;NIRCHJIMCNCP?
>C;AHIMNC=HINNIRCHA?H?<;M?>OJNIQ??EM;@N?LCHCNC;NCIHI@NL?;NG?HN2HFCE?NB?- /
>C;AHIMNC=@IL>C@@C=CF?
NB?NIRCH<;M?>N?MNM
MO=B;M?HTSG?CGGOHI;MM;S"&@ILNIRCH
;H>ILNB?=?FF=SNINIRC=CNSH?ONL;FCT;NCIH;MM;S  +>?N?=NMNB?JL?M?H=?I@NIRCH
CH@?=;FM;GJF?M1BOM
L?=OLL?H=?CM>?@CH?>;MWOH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SM
QCNB;JIMCNCP?N?MNIH;MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;S
;H>;MM?MMG?HN<S
NB?CHP?MNCA;NILNB;NNB?=FCHC=;F=IH>CNCIHI@NB?MO<D?=NQ;LL;HNM;HNC<CINC=NL?;NG?HN

%&'*!($()
1BCMCM;-B;M?
GOFNC=?HN?L
L;H>IGCT?>
>IO<F?<FCH>
JF;=?<I=IHNLIFF?>
J;L;FF?FALIOJMNO>S
I@NB?M;@?NS
NIF?L;<CFCNS
;H>?@@C=;=SI@0"/P?LMOMJF;=?<ICH;>OFNMO<D?=NMS?;LMI@;A?
ILIF>?LQCNBL?=OLL?HN !&/ !&
>?@CH?>;M;BCMNILSI@W !&?JCMI>?MQCNBCHGIHNBM

CH=FOMCP?I@NB?=OLL?HN?JCMI>?1BCMMNO>SCM>?MCAH?>NI>?GIHMNL;N?NB?MOJ?LCILCNSI@0"/
P?LMOMJF;=?<INIL?>O=?L?=OLL?H=?I@CH@?=NCIH !&CH;>OFNMQBIB;P?
L?=?CP?> ;HNC<;=N?LC;F >LOA NL?;NG?HN @IL L?=OLL?HN  !&
 <;M?> IH NB? JLIJILNCIH I@ MO<D?=NM
?RJ?LC?H=CHA ;  !& L?=OLL?H=? L?KOCLCHA ;HNC<CINC= NL?;NG?HN OJ NI Q??EM ;@N?L CHCNC;NCIH I@
NL?;NG?HN
1B?N;LA?N;==LO;FQCFF<?MO<D?=NM
1BCMMNO>SQCFF<?=IH>O=N?>;N;JJLIRCG;N?FSMNO>S=?HN?LMCH+ILNBG?LC=;0O<D?=NMQCNB
; BCMNILS I@ / !&
 >C;LLB?; ;H> ; JIMCNCP?   MNIIF M;GJF? N?MN?> <S ; NIRCH ;MM;S
JL?@?L;<FSJ?L@ILG?><S;=?HNL;FF;<IL;NILS
QBIB;P?L?MJIH>?>NINI>;SMI@MN;H>;L>I@


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

=;L?0, ;HNC<CINC=NL?;NG?HNC?
P;H=IGS=CH8GA.&!9IL@C>;RIGC=CH8GA&!9
QCFF<?L;H>IGFS;MMCAH?>
CH;L;NCI
NII@NL?;NG?HNALIOJM1L?;NG?HN$LIOJ&80"/9
IL1L?;NG?HN$LIOJ&&8-F;=?<I9
;H>MNL;NC@C?><S;A?S?;LMWS?;LM
;MQ?FF;M;HNC<CINC=
L?ACG?H@ILNB?KO;FC@SCHA?JCMI>?P;H=IGS=CH@C>;RIGC=CH)I=;FF;<IL;NILSNIRCHN?MNCHA@IL
NB?KO;FC@SCHA?JCMI>?GOMN<?@LIG; FCHC=;F);<IL;NILS&GJLIP?G?HNG?H>G?HNM=?LNC@C?>
F;<IL;NILSOMCHA;#II>;H>!LOA>GCHCMNL;NCIH;JJLIP?>NIRCHN?MN
0O<D?=NMQCFFL?=?CP?;HIL;F>IM?I@0"/
IH=?>;CFS@IL>;SM
CH1L?;NG?HN$LIOJ&ILG;N=BCHAJF;=?<IIH=?>;CFS@IL>;SMCH1L?;NG?HN$LIOJ&&
1B?MNO>S>OL;NCIHCM;JJLIRCG;N?FSQ??EM
CH=FO>CHA;UQ??E0=L??HCHA-?LCI>
;HQ??E
"@@C=;=S-?LCI>
;H>;Q??E#IFFIQOJ-?LCI>
#;PIL;<F?=FCHC=;FION=IG?CHNBCMMNO>SQCFF<?>?N?LGCH?><SNB?;<M?H=?I@ !&L?=OLL?H=?OJ
NI;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HNI@MNO>S>LOA
QCNB !&L?=OLL?H=?>?@CH?>;M
WOH@ILG?> MNIIFM J?L >;S IP?L =IHM?=ONCP? >;SM ;H> NB? L?KOCL?G?HN NB;N J;NC?HNM GOMN
=IHNCHO?NIB;P?>C;LLB?;OHNCF;HNC<CINC=NL?;NG?HNCMCHCNC;N?>
QCNB;JIMCNCP?N?MNIH;
MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;S;H>;>?=CMCIH<SNB?CHP?MNCA;NIL<;M?>IH=FCHC=;F
;MM?MMG?HN
 NB;N ;HNC<CINC= NL?;NG?HN CM H??>?> !;N; @LIG NB?  NIRCH ;MM;S ?CNB?L
?HTSG?CGGOHI;MM;S8"&9IL=?FF=SNINIRC=CNSH?ONL;FCT;NCIH;MM;S8  +9
J?L@ILG?>;NNB?
=?HNL;FF;<IL;NILS
QCFF<?OM?>@ILNB?JLCG;LS?H>JICHN;H;FSMCM1B?=?HNL;FF;<IL;NILSL?MOFNM
QCFF<?=IGGOHC=;N?>NINB?CHP?MNCA;NIL;H>NB?>?=CMCIHNINL?;NQCNB;HNC<CINC=MQCFF<?<;M?>
OJIHNB?CHP?MNCA;NIL[M;MM?MMG?HN0OMN;CH?>=FCHC=;FL?MJIHM?CM>?@CH?>;M;@;PIL;<F?=FCHC=;F
ION=IG?
HCH>?J?H>?HN>;N;M;@?NS;H>GIHCNILCHA=IGGCNN??!0* QCFFL?PC?QOH<FCH>?>M;@?NS>;N;
NBLIOABL?PC?QI@MOMJ?=N?>
OH?RJ?=N?>M?LCIOM;>P?LM?L?;=NCIHM020/M;MNB?SI==OL
;M
Q?FF;MGIHNBFSL?PC?QI@<FCH>?>0";H>"0&FCMNCHAM


&;3+698.>-=
0O<D?=NMQCNB;BCMNILSI@/ !&
>C;LLB?;;H>;JIMCNCP?MNIIFM;GJF?N?MN?><S;NIRCH
;MM;SJL?@?L;<FSI<N;CH?>@LIG;=?HNL;FF;<IL;NILSM??);<IL;NILS*;HO;F
QBIB;P?L?MJIH>?>
NINI>;SMI@MN;H>;L>I@=;L?0, ;HNC<CINC=NL?;NG?HNQCFF<??HLIFF?>-IN?HNC;FMO<D?=NM
QCFF<?M=L??H?>@LIGNI>;SMJLCILNICHCNC;NCIHI@>IM?;>GCHCMNL;NCIH-LIMJ?=NCP?MO<D?=NM
CH=FO>?NBIM?QBIB;P?<??H>C;AHIM?>QCNBNB?CLNBCL>ILMO<M?KO?HN?JCMI>?I@ !&
>?@CH?>;M
>C;LLB?;WOH@ILG?>MNIIFMJ?L>;S@IL;NF?;MN=IHM?=ONCP?>;SM
;>I=OG?HN?>JIMCNCP?
MNIIFM;GJF?N?MN?><S;NIRCH;MM;SJL?@?L;<FSJ?L@ILG?><S;=?HNL;FF;<IL;NILSM??
);<IL;NILS *;HO;F
 ;H> QBI ;L? =OLL?HNFS N;ECHA IL B;P? =IGJF?N?> ;  >;S =IOLM? I@
MN;H>;L>I@=;L? 0,  ;HNC<CINC= >?@CH?> ;M P;H=IGS=CH 8GA .&!9 ;H>IL @C>;RIGC=CH
8GA&!9NINL?;NNB?CL !&FN?LH;NCP?FS
MO<D?=NMQCNB;MOMJ?=N?>NBCL>ILMO<M?KO?HN !&
?JCMI>?WOH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SM
<ONQBIB;P?HINB;>; !&MNIIF
N?MN;L??FCAC<F?NI<?M=L??H?>1I<?L;H>IGCT?>CHNINB?MNO>S
;FFMO<D?=NMGOMNB;P?;JIMCNCP?
MNIIFM;GJF?N?MN?><S;NIRCH;MM;SJL?@?L;<FSJ?L@ILG?><SNB?=?HNL;FF;<IL;NILS;H>
;H;>?KO;N?=FCHC=;FL?MJIHM?@IFFIQCHA0, ;HNC<CINC=NB?L;JS
>?@CH?>;MOH@ILG?>MNIIFMCH
BIOLM@ILILGIL?=IHM?=ONCP?>;SMOJNIL;H>IGCT;NCIH)I=;FF;<IL;NILSNIRCHN?MNCHA@IL
NB?KO;FC@SCHA?JCMI>?GOMN<?@LIG; FCHC=;F);<IL;NILS&GJLIP?G?HNG?H>G?HNM=?LNC@C?>
F;<IL;NILSOMCHA;#II>;H>!LOA>GCHCMNL;NCIH;JJLIP?>NIRCHN?MNFFMO<D?=NMGOMN
<?;<F?NI<?>IM?>QCNBMNO>S>LOAQCNBCH>;SMI@0, ;HNC<CINC==IGJF?NCIH,H!;S
QCNBCH
)


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

>;SMI@=IGJF?NCHA0, ;HNC<CINC=NL?;NG?HN@ILNB?CL !&
MO<D?=NMQCFFOH>?LAI;<IQ?F=F?;HM?
<S=IHMOGCHAITUG)I@IL;FG;AH?MCOG=CNL;N?@IFFIQ?><SIP?LHCABN@;MNCHA0O<D?=NM
QCNBCGJ;CL?>EC>H?S@OH=NCIHQBI;L?OH;<F?NIN;E?G;AH?MCOG=CNL;N?QCFFN;E?G)I@
$I)SN?FSJIFS?NBSF?H?AFS=IF?F?=NLIFSN?MIFONCIH,HNB?>;SI@L;H>IGCT;NCIH!;S
MO<D?=NM
QCFFL?JILNNINB?=FCHC=;H>QCFFL?=?CP??CNB?L>IM?I@0"/
IL>IM?I@
G;N=BCHA JF;=?<I @IL IL;F ;>GCHCMNL;NCIH 0O<D?=NM QCFF L?G;CH CH NB? =FCHC= OHNCF ;FF M;@?NS
?P;FO;NCIHMB;P?<??H=IGJF?N?>,H!;S;H>!;S
MO<D?=NMG;S?F?=NNI=IG?NINB?=FCHC=NI
L?=?CP?;MCHAF?>;CFS>IM?I@MNO>S>LOA
ILG;S=BIIM?NIL?=?CP?;JBIH?=;FF@LIGMNO>SMN;@@
NI=IH@CLGMO<D?=NB;MN;E?H;MCHAF?>;CFS>IM?I@MNO>S>LOA&@MO<D?=NM?F?=NNIN;E?NB?MNO>S
>LOA;NBIG?IH!;S;H>!;S
NB?SQCFFL?=?CP?;JBIH?=;FFNI=IH@CLG>IMCHAIH!;SM;H>
#ILNBIM?MO<D?=NMN;ECHA!;SM;H>MNO>S>LOA;NBIG?
JLCILNIF?;PCHANB?=FCHC=IH!;S
NB?SQCFFL?=?CP?;>;SMOJJFSI@MNO>S>LOAJ?LNL?;NG?HN;MMCAHG?HN
;MQ?FF;MCHMNLO=NCIHM@IL
BIG?;>GCHCMNL;NCIHI@MCHAF?>;CFS>IM?M=;JMOF?MCHNB?GILHCHA<?@IL?<L?;E@;MNIH!;S
;H>!;S0O<D?=NM?F?=NCHAJBIH?=IH@CLG;NCIHI@>IMCHAQCFF<?=IHN;=N?><SJBIH?IH!;S
;H>!;SNI=IH@CLGNB?SB;P?N;E?HMNO>S>LOA<?@IL?<L?;E@;MN;H>NICHKOCL?;<IONNB?CLA?H?L;F
B?;FNB&@MO<D?=NMB;P?HINN;E?HMNO>S>LOAQB?H=IHN;=N?>
NB?SQCFF<?L?GCH>?>NI>IMI;M
MIIH;MJIMMC<F?#LIG!;SNI4??E
;FFMO<D?=NMQCFF<?=IHN;=N?><SJBIH?<SMNO>SMCN?
J?LMIHH?FQ??EFS
QCNBNB??R=?JNCIHI@;BIG?ILCH=FCHC=PCMCN;N4??E
;H>;HCH=FCHC=PCMCN
;N4??E
;H>KO?LC?>@IL;>P?LM??P?HNM"M;H>>C;LLB?;FMSGJNIGM&H;>>CNCIH
MO<D?=NM
QCFFOM?;J;NC?HNL?JILN?>>C;LS=;L>NI=;JNOL?MIFC=CN?>;>P?LM??P?HNM@IL>;SM;@N?L!;SI@
MNO>S>LOA!;SNBLIOAB!;S@N?L4??E
;FFMO<D?=NMQCFF<?=IHN;=N?><SJBIH?<SMNO>S
MCN?J?LMIHH?F?P?LSQ??EMC?
4??EM


;H>;H>KO?LC?>@ILM?LCIOM;>P?LM?
?P?HNM80"M9;H>;>P?LM??P?HNMI@MJ?=C;FCHN?L?MN8"0&M9%?;FNBL?F;N?>KO;FCNSI@FC@?;H>
B?;FNB ION=IG?M QCFF <? ;MM?MM?> NBLIOABION NB? MNO>S PC; NB?  !&MJ?=C@C=
  >C@@ %?;FNB
/?F;N?>.O;FCNSI@)C@?%/.I);H>"OLI.IF!CG?HMCIH)?P?F".!)KO?MNCIHH;CL?M
FF "M
 0"M"0&M
 ;H> =IH=IGCN;HN G?>C=;NCIHM QCFF <? =IFF?=N?> @LIG NB? NCG? I@
L;H>IGCT;NCIHOJNI4??E#LIG4??EOJNI4??E
;FF0"M"0&M;H>0""0&L?F;N?>
>;N;
;H>;HS;HNC<CINC=G?>C=;NCIH;H>CNM=ILL?MJIH>CHACH>C=;NCIHQCFF<?=IFF?=N?>
1I>I=OG?HN?JCMI>?MI@>C;LLB?;
MO<D?=NMQCFF=IGJF?N?;>;CFS>C;LLB?;FIAM??&HP?MNCA;NIL
0CN? #CF? NI CH=FO>? >;SM QCNB >C;LLB?; ;M Q?FF ;M HI >C;LLB?; &@ >C;LLB?;F MSGJNIGM L?=OL
WOH@ILG?>MNIIFMJ?L>;SIP?L=IHM?=ONCP?>;SM<?NQ??HM=B?>OF?>PCMCNM
MO<D?=NMQCFF<?
CHMNLO=N?>NI=IHN;=NNB?CHP?MNCA;NIL;H>L?NOLHNINB?=FCHC=@IL;MNIIFNIRCHN?MN;H>
=FCHC=;F ?P;FO;NCIH @IL L?=OLL?H=? I@  !& /?=OLL?H=? 3CMCN 0O<D?=NM QCNB ; =IH@CLG?>  !&
L?=OLL?H=?
;M>?@CH?>CHNB?JLINI=IF
JLCILNI4??E
G;S<??FCAC<F?NI?HLIFFCHNB?IJ?HF;<?F
0"/?RN?HMCIHMNO>S0"/"0
;H>C@?FCAC<F?
I@@?L?>;HIJJILNOHCNSNI?HLIFF0O<D?=NM
QBI>IHIN?HLIFFCHNB?0"/"0MNO>SILMO<D?=NMQCNB;=IH@CLG?>L?=OLL?H=?;@N?L4??E
MBIOF>=IHNCHO?NI<?@IFFIQ?>@ILM;@?NS;MM?MMG?HNMNBLIOAB4??E
#;PIL;<F?=FCHC=;FION=IG?ILMOMN;CH?>=FCHC=;FL?MJIHM?CHNBCMMNO>SQCFF<?>?N?LGCH?><SNB?
;<M?H=?I@ !&L?=OLL?H=?OJNI;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN !&L?=OLL?H=?CM
>?@CH?>;MWOH@ILG?>MNIIFMJ?L>;SIP?L=IHM?=ONCP?>;SM;H>NB?L?KOCL?G?HNNB;NJ;NC?HNM
GOMN=IHNCHO?NIB;P?>C;LLB?;OHNCF;HNC<CINC=NL?;NG?HNCMCHCNC;N?>
;JIMCNCP?MNIIF
NIRCH ;MM;S ;H> ; >?=CMCIH <S NB? CHP?MNCA;NIL <;M?> IH =FCHC=;F ;MM?MMG?HN
 NB;N ;HNC<CINC=
NL?;NG?HNCMH??>?>1ICH@ILGMO<D?=N=;L?
;MNIIFN?MNG;S<?J?L@ILG?>FI=;FFS;N
NB?MNO>SMCN?0NIIFM;GJF?M=IFF?=N?>@ILMOMJ?=N?> !&L?=OLL?H=?QCFF;FMI<?JLI=?MM?>;H>
MBCJJ?>NI;=?HNL;FF;<IL;NILS@ILMNIIFN?MNCHAM??);<IL;NILS*;HO;F@IL>?N;CFMI@
(


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

=?HNL;FF;<IL;NILSN?MNCHA1B?MO<D?=NMBIOF>HINCHCNC;N?;HNC<CINC=NL?;NG?HN@ILMOMJ?=N?> !&
JLCILNIJLIPC>CHA;MNIIFM;GJF?@ILNB?=?HNL;FF;<IL;NILSMNIIFN?MNCHA!;N;@LIGNB?
NIRCH ;MM;S J?L@ILG?> ;N NB? =?HNL;F F;<IL;NILS ?CNB?L ?HTSG? CGGOHI;MM;S 8"&9 IL =?FF
=SNINIRC=CNSH?ONL;FCT;NCIH;MM;S8  +9QCFF<?OM?>@ILNB?JLCG;LS?H>JICHN;H;FSMCM1B?
=?HNL;FF;<IL;NILSL?MOFNMQCFF<?=IGGOHC=;N?>NINB?CHP?MNCA;NIL;H>NB?>?=CMCIHNINL?;NQCNB
;HNC<CINC=MQCFF<?<;M?>OJIHNB?&HP?MNCA;NIL[M;MM?MMG?HN
HCH>?J?H>?HN>;N;M;@?NS;H>GIHCNILCHA=IGGCNN??!0* QCFFL?PC?QOH<FCH>?>M;@?NS>;N;
NBLIOABL?PC?QI@MOMJ?=N?>
OH?RJ?=N?>M?LCIOM;>P?LM?L?;=NCIHM020/M;MNB?SI==OL
;M
Q?FF;MGIHNBFSL?PC?QI@<FCH>?>0";H>"0&FCMNCHAM

1B?M=B?>OF?I@;MM?MMG?HNM;H>JLI=?>OL?MCMJLIPC>?>CH1;<F?

%&'*!&(%


";37+;B003-+-B!,4/-=3?/
1I >?GIHMNL;N? NB? MOJ?LCILCNS I@ 0"/ P?LMOM JF;=?<I CH NB? L?>O=NCIH I@ L;N?M I@  !&
L?=OLL?H=?
>?N?LGCH?><S;NIRCH;MM;S
OJNIQ??EM;@N?LCHCNC;NCIHI@NL?;NG?HN

%/-98.+;B003-+-B!,4/-=3?/<
• 1I>?GIHMNL;N?NB?MOJ?LCILCNSI@0"/P?LMOMJF;=?<ICHNB?L?>O=NCIHI@L;N?MI@
 !& L?=OLL?H=?
 >?N?LGCH?> <S ; - / ;FAILCNBG M?? );<IL;NILS *;HO;F
 OJ NI
Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
• 1I=IGJ;L?NB?NCG?NI !&L?=OLL?H=?
>?N?LGCH?><S;NIRCH;MM;S
CHNB?0"/
NL?;NG?HNALIOJNINB?NCG?NI !&L?=OLL?H=?CHNB?JF;=?<IALIOJ;@N?LCHCNC;NCIHI@
NL?;NG?HN
• 1I=IGJ;L?NB?NCG?NI !&L?=OLL?H=?
>?N?LGCH?>OMCHA;- /;FAILCNBG
CHNB?
0"/NL?;NG?HNALIOJNINB?NCG?NI !&L?=OLL?H=?CHNB?JF;=?<IALIOJ;@N?L
CHCNC;NCIHI@NL?;NG?HN
• 1I=IGJ;L?NB?JLIJILNCIHI@MO<D?=NM?RJ?LC?H=CHA !&L?=OLL?H=?
>?N?LGCH?><S;
NIRCH;MM;S
CHMO<D?=NMQBIL?=?CP?0"/NINB?JLIJILNCIHI@MO<D?=NM?RJ?LC?H=CHA
 !& L?=OLL?H=? CH MO<D?=NM QBI L?=?CP? JF;=?<I OJ NI 
 
 ;H> Q??EM ;@N?L
CHCNC;NCIHI@NL?;NG?HN
• 1I=IGJ;L?NB?JLIJILNCIHI@MO<D?=NM?RJ?LC?H=CHA !&L?=OLL?H=?
>?N?LGCH?>OMCHA
; - / ;FAILCNBG
 CH MO<D?=NM QBI L?=?CP? 0"/ NI NB? JLIJILNCIH I@ MO<D?=NM
?RJ?LC?H=CHA !&L?=OLL?H=?CHMO<D?=NMQBIL?=?CP?JF;=?<IOJNI

;H>Q??EM
;@N?LCHCNC;NCIHI@NL?;NG?HN
• 1I>?GIHMNL;N?=FCHC=;F?@@C=;=SI@?;=B0"/FIN;M=IGJ;L?>NIJF;=?<IOJNI
Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


";37+;B%+0/=B!,4/-=3?/
• 1I?P;FO;N?NB?M;@?NS;H>NIF?L;<CFCNSI@0"/P?LMOMJF;=?<ICH;>OFNMO<D?=NMQCNB
L?=OLL?HN !&

A:69;+=9;B!,4/-=3?/<
• 1I =IGJ;L? =B;HA?M CH NB? =IGJIMCNCIH I@ NB? AON GC=LI<CIG? CH NB? 0"/
NL?;NG?HNALIOJNI=B;HA?MCHNB?=IGJIMCNCIHI@NB?AONGC=LI<CIG?CHNB?JF;=?<I
ALIOJ@LIG;M?FCH?OJNI


;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
• 1I=IGJ;L?=B;HA?MCHNB?@?=;FG?N;<IFIG?CHNB?0"/NL?;NG?HNALIOJP?LMOM
CHNB?JF;=?<IALIOJ@LIG;M?FCH?OJNI

;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
• 1I>?N?LGCH?NB?CH=C>?H=?I@GILN;FCNS@LIG;FF=;OM?MOJNI;H>Q??EM;@N?L
CHCNC;NCIHI@NL?;NG?HNCH?;=BI@NB?NQINL?;NG?HNALIOJM
• 1I>?N?LGCH?NB?CH=C>?H=?I@BIMJCN;FCT;NCIHM@ILL?=OLL?HN !&OJNI;H>Q??EM
;@N?LCHCNC;NCIHI@NL?;NG?HNCH?;=BI@NB?NQINL?;NG?HNALIOJM
• 1I>?N?LGCH?NB?CH=C>?H=?I@;FFBIMJCN;FCT;NCIHMOJNI;H>Q??EM;@N?LCHCNC;NCIH
I@NL?;NG?HNCH?;=BI@NB?NQINL?;NG?HNALIOJM
• 1I >?N?LGCH?
 @IL MO<D?=NM QBI ;L? BIMJCN;FCT?>
 NB? NIN;F F?HANB I@ MN;S >;SM I@
BIMJCN;FCT;NCIH
CH=FO>CHA>;SMCHNB?CHN?HMCP?=;L?OHCN
OJNI;H>Q??EM;@N?L
CHCNC;NCIHI@NL?;NG?HNCH?;=BI@NB?NQINL?;NG?HNALIOJM
• 1I;MM?MMB?;FNBION=IG?M
CH=FO>CHA%?;FNB/?F;N?>.O;FCNSI@)C@?%/.,)
<S
OMCHANB?"OLI.IF!CG?HMCIHM)?P?F".!);H>NB?%/.,)MOLP?S@IL !&
 !C@@OJNI;H>Q??EM
L?MJ?=NCP?FS
;@N?LNB?CHCNC;NCIHI@NL?;NG?HNCH?;=B
I@NB?NQINL?;NG?HNALIOJM

%&'* $! & )&$)


8-6><398;3=/;3+
1I<??FCAC<F?@IL?HLIFFG?HN
;MO<D?=NGOMNG??N;FFNB?@IFFIQCHA=LCN?LC;<?@IL?OH>?LAICHA;HS
MNO>SL?F;N?>JLI=?>OL?M
 0CAH?>CH@ILG?>=IHM?HNJLCILNICHCNC;NCIHI@;HSMNO>SMJ?=C@C=JLI=?>OL?ILNL?;NG?HN
1B?MO<D?=N
ILNB?CLF?A;FFS;ONBILCT?>L?JL?M?HN;NCP?
GOMN<?QCFFCHANIJLIPC>?QLCNN?H
CH@ILG?>=IHM?HN;H>OH>?LMN;H>NB?JIN?HNC;FLCMEM;H><?H?@CNM@LIGMNO>S?HLIFFG?HN
;H>NL?;NG?HN
 *;F?IL@?G;F?MO<D?=NWS?;LMI@;A?
 KO;FC@SCHA?JCMI>?I@ !&;M>?@CH?><S
; WOH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SM
< JIMCNCP?MNIIFNIRCH;MM;S!I=OG?HN;NCIHI@;JIMCNCP?MNIIF
N?MNL?MOFNJL?@?L;<FSJ?L@ILG?><S;=?HNL;FF;<IL;NILSM??);<IL;NILS*;HO;FCM
L?KOCL?>@ILMO<D?=NM?HN?LCHANB?MNO>S


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

= 1B?L?KOCL?G?HNI@ !&0, ;HNC<CINC=NB?L;JS>?@CH?>;MNI>;SMI@NL?;NG?HN
QCNBP;H=IGS=CH8GA.&!9IL@C>;RIGC=CH8GA&!9+IN?&NCM;==?JN;<F?C@
MO<D?=NQ;MMN;LN?>IHG?NLIHC>;TIF?
MQCN=B?>NIP;H=IGS=CHIL@C>;RIGC=CH;H>CM
NL?;N?>@IL;GCHCGOGI@>;SMI@P;H=IGS=CHIL@C>;RIGC=CHQCNB;NIN;FNL?;NG?HN
CH=FO>CHA>;SMIHG?NLIHC>;TIF?>OL;NCIHI@OJNI;G;RCGOGI@>;SM
> H ;>?KO;N? =FCHC=;F L?MJIHM? @IFFIQCHA 0,  ;HNC<CINC= NB?L;JS
 >?@CH?> ;M
OH@ILG?>MNIIFMCHBIOLM@ILILGIL?=IHM?=ONCP?>;SM<?@IL?L;H>IGCT;NCIH
? 1B?L?KOCL?G?HNNB;NNB?MO<D?=N=;H<?>IM?>QCNBMNO>S>LOAQCNBCH>;SMI@0, 
;HNC<CINC==IGJF?NCIH
 W?JCMI>?MI@ !&QCNBCHNB?JL?PCIOMGIHNBM
CH=FOMCP?I@NB?=OLL?HN?JCMI>?
QCNB
>I=OG?HN?> BCMNILS I@ W  ?JCMI>?M
 CH=FOMCP? I@ NB? =OLL?HN KO;FC@SCHA ?JCMI>?

CH=FO>CHA
; !;N?M
N?MNL?MOFNM
;H>;HNC<CINC=NL?;NG?HNML?=?CP?>"@@ILNMMBIOF><?G;>?NI;=KOCL?
BCMNILS I@ ;>>CNCIH;F  !& ?JCMI>?M <?SIH> NB?  L?KOCL?> >I=OG?HN?> ?JCMI>?M
CH=FO>CHA>;N?M
N?MNL?MOFNM
;H>;HNC<CINC=NL?;NG?HNML?=?CP?>
 &@@?G;F?
MO<D?=NCMHIHF;=N;NCHA
;H>CM?CNB?L
; +IN I@ =BCF><?;LCHA JIN?HNC;F
 >?@CH?> ;M JIMNG?HIJ;OM;F @IL ;N F?;MN S?;L IL
MOLAC=;FFS MN?LCF? >O? NI <CF;N?L;F NO<;F FCA;NCIH
 <CF;N?L;F IIJBIL?=NIGS
 IL
BSMN?L?=NIGS
< ,@=BCF><?;LCHAJIN?HNC;F;H>CMJL;=NC=CHA;NF?;MNBCABFS?@@?=NCP?G?NBI>I@<CLNB
=IHNLIFCH=FO>CHANB?<;LLC?LG?NBI>IL;FILJ;L?HN?L;F=IHNL;=?JNCP?M;P;M?=NIGCT?>
J;LNH?LIL;<MNCH?H=?@LIGM?RO;FCHN?L=IOLM?1B?CHP?MNCA;NILQCFF>CM=OMMQCNBNB?
MO<D?=NNB?IJNCIHI@JL;=NC=CHAGIL?NB;HI@NB?;<IP?G?NBI>M@ILNB?>OL;NCIHI@
NB?MNO>S
 &@G;F?
;H>J;LNH?LCMI@=BCF><?;LCHAJIN?HNC;F
MO<D?=N;AL??MNIJL;=NC=?;NF?;MNBCABFS
?@@?=NCP?G?NBI>I@<CLNB=IHNLIF@ILNB?>OL;NCIHI@NB?MNO>S
 &MHINN;ECHAJLI<CINC=M
IL;AL??MNI>CM=IHNCHO?JLI<CINC=M;NNCG?I@=IHM?HN;H>QCFFHIN
N;E?JLI<CINC=M@ILNB?>OL;NCIHI@NB?MNO>S

A-6><398;3=/;3+
MO<D?=NQCFFHIN<??HLIFF?>C@NB?MO<D?=NG??NM;HSI@NB?@IFFIQCHA=LCN?LC;
 #?G;F?MO<D?=NMQBI;L?JL?AH;HN
<L?;MN@??>CHA
F;=N;NCHA
ILJF;HHCHANI<?=IG?JL?AH;HN
>OLCHANB?MNO>S
 (HIQHILMOMJ?=N?>NIRC=G?A;=IFIH;H>ILEHIQHMG;FF<IQ?FCF?OM
 >GCNN?>NIIL?RJ?=N?>NI<?;>GCNN?>NI;HCHN?HMCP?=;L?OHCN@ILG?>C=;FL?;MIHMHIN
DOMN<I;L>CHA+IN?HOLMCHABIG?M
L?B;<CFCN;NCIH
;MMCMN?>FCPCHA=?HN?LM;H>;=ON?=;L?
BIMJCN;FM;L?;==?JN;<F?
 <MIFON?H?ONLIJBCF=IOHNI@=?FFMGF
 1;ECHA;HNC<;=N?LC;FNB?L;JSINB?LNB;H0, ;HNC<CINC=M@ILNB?GIMNL?=?HN?JCMI>?I@ !&
>OLCHANB?M=L??HCHAJ?LCI>;MCHAF?>;S;HNC<CINC=JLIJBSF;=NC=L?ACG?HCMJ?LGCNN?>
IL
JLID?=N?>NIL?=?CP?;HNC<CINC=M>OLCHANB?Q??EJ?LCI>JIMNL;H>IGCT;NCIH


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

 *;DIL A;MNLICHN?MNCH;F MOLA?LS ?AMCAHC@C=;HN <IQ?F L?M?=NCIH IL >CP?LMCIH QCNBCH
GIHNBM<?@IL??HLIFFG?HNNBCM>I?MHINCH=FO>?;JJ?H>?=NIGSIL=BIF?=SMN?=NIGS
IL
;HSBCMNILSI@NIN;F=IF?=NIGSIL<;LC;NLC=MOLA?LS<;LC;NLC=MOLA?LSQBC=B>I?MHIN>CMLOJN
NB?A;MNLICHN?MNCH;FFOG?H
C?
L?MNLC=NCP?JLI=?>OL?MMO=B;M<;H>CHA
;L?J?LGCNN?>
 %CMNILS I@ ;=NCP? CH@F;GG;NILS <IQ?F >CM?;M? OF=?L;NCP? =IFCNCM
  LIBH[M >CM?;M?

GC=LIM=IJC==IFCNCMQCNB>C;LLB?;<?FC?P?>NI<?=;OM?><S;=NCP?CH@F;GG;NILS<IQ?F
>CM?;M?CHNB?J;MNGIHNBM
 2H;<F? NI MNIJ FIJ?L;GC>?
 >CJB?HIRSF;N?;NLIJCH?
 IL =BIF?MNSL;GCH? JLCIL NI MN;LN I@
MNO>S
 2H;<F?NIMNIJIJC;N?NL?;NG?HNOHF?MMIH;MN;<F?>IM?
CH=FO>CHA-/+>IMCHA
;MI@NB?
IHM?NI@>C;LLB?;;H>HICH=L?;M?CH>IM?JF;HH?>@ILNB?>OL;NCIHI@NB?MNO>S+IN?0BILN
N?LGIJC;N?OM?CMJ?LGCNN?>?A
@IL;>?HN;F?RNL;=NCIH
(HIQH JIMCNCP? MNIIF =OFNOL?M @IL INB?L ?HN?LIJ;NBIA?HM CH=FO>CHA
 <ON HIN FCGCN?> NI

	
	
;H> QCNBCHNB?>;SM<?@IL??HLIFFG?HN
(HIQHMNIIFMNO>C?MJIMCNCP?@ILIP;;H>ILJ;L;MCN?MQCNBCHNB?>;SM<?@IL??HLIFFG?HN
-IIL=IH=OLL?HNG?>C=;FLCMEMQCNB=FCHC=;FFSMCAHC@C=;HN=IGIL<C>>CM?;M?MO=BNB;N
CH
NB?IJCHCIHI@NB?CHP?MNCA;NIL
NB?MO<D?=NMBIOF>HIN<??HLIFF?>
/?=?CP?>;BOG;HGIHI=FIH;F;HNC<I>S;A;CHMNNIRCHQCNBCHGIHNBM<?@IL?
MNO>S?HNLS
/?=?CP?>;HCHP?MNCA;NCIH;F>LOAILP;==CH?
ILJ;LNC=CJ;N?>CH;HS?RJ?LCG?HN;FJLI=?>OL?
QCNBCHGIHNBGIHNBM@ILGIHI=FIH;F;HNC<I>C?M<?@IL?MNO>S?HNLS
HSBCMNILSI@CGGOHIAFI<OFCH&A$L?JF;=?G?HNNB?L;JSQCNBCHNB?J;MNGIHNBM
HSBCMNILSI@@?=;FGC=LI<CIN;NL;HMJF;HN;NCIH#*1QCNBCHNB?J;MNGIHNBM
-L?PCIOMFS?HLIFF?>CHNBCMMNO>SIL;HS0?L?M1B?L;J?ONC=M
&H=MJIHMIL?>MNO>S
(HIQH;=NCP?CHNL;P?HIOM>LOAIL;F=IBIF;<OM?ILOM?I@INB?L>LOAMI@;<OM?
 IH=OLL?HN CHN?HMCP? CH>O=NCIH =B?GINB?L;JS
 L;>CINB?L;JS
 IL <CIFIAC= NL?;NG?HN @IL
;=NCP? G;FCAH;H=S MO<D?=NM IH G;CHN?H;H=? =B?GINB?L;JS G;S IHFS <? ?HLIFF?> ;@N?L
=IHMOFN;NCIHQCNBNB?MNO>SG?>C=;FGIHCNIL
2H;<F?NI=IGJFSQCNBNB?JLINI=IFL?KOCL?G?HNM
CH=FO>CHANB?;<CFCNSNIN;E?IL;F>LOAM
IL ;HS =IH>CNCIH NB;N
 CH NB? IJCHCIH I@ NB? CHP?MNCA;NIL
 GCABN CHN?L@?L? QCNB MNO>S
I<D?=NCP?M
)C@??RJ?=N;H=SCMQ??EMILF?MM

%>,4/-=983=9;381+8.)3=2.;+@+6


$/+<98<09;)3=2.;+@+6
0O<D?=NMMBIOF>=IHNCHO?NI<?@IFFIQ?>@ILM;@?NS;MM?MMG?HNMOJNIQ??EM;@N?LNL?;NG?HN

?P?H;@N?L; !&L?=OLL?H=?%IQ?P?L
;MO<D?=NG;SQCNB>L;Q@LIGNB?MNO>S;N;HSNCG?@IL;HS


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

L?;MIH
QCNBION;HS=IHM?KO?H=?&H;>>CNCIH
;MO<D?=NG;S<?QCNB>L;QH@LIGNB?MNO>S@IL
L?;MIHMCH=FO>CHANB?@IFFIQCHA
• "NSJC=;FFS;H0"
• 0O<D?=N =BIC=? QCNB>L;Q;F I@ =IHM?HN <S MO<D?=N IL NB?CL F?A;FFS ;ONBILCT?>
L?JL?M?HN;NCP?CHP?MNCA;NILQCFF;NN?GJNNI;M=?LN;CHL?;MIH
• -LINI=IFPCIF;NCIHHIH=IGJFC;H=?

+8.638190)3=2.;+@+6<+8.3<-98=38>+=398<90&;/+=7/8=
1B?JLCG;LSL?;MIH@ILQCNB>L;Q;F@LIGNB?MNO>SQCFF<?L?=IL>?>CH;H?F?=NLIHC==;M?L?JILN
@ILG? /#0O<D?=NMQBIPIFOHN;LCFSQCNB>L;Q
ILQBI;L?QCNB>L;QH@LIGNB?MNO>SQCFF<?
?H=IOL;A?>NI=IGJF?N?NB?";LFS1?LGCH;NCIH3CMCN1B?";LFS1?LGCH;NCIH3CMCNJLI=?>OL?M;L?
FCMN?> CH 0?=NCIH FNBIOAB MO<D?=NM ;L? @L?? NI QCNB>L;Q ;N ;HS NCG?
 MO<D?=NM QCFF <?
?H=IOL;A?>NIL?G;CHCHNB?MNO>S@IL@IFFIQOJM;@?NS?P;FO;NCIH
1BIM?MO<D?=NMQBIQCNB>L;Q@LIGNB?MNO>SQCFF<?L?@?LL?>NI;JBSMC=C;H@IL@IFFIQOJ=;L?

9<==99669@>:
&@;MO<D?=N@;CFMNI;JJ?;L@IL;@IFFIQOJ;MM?MMG?HN
;FF;NN?GJNMNI=IHN;=NNB?MO<D?=N;H>
CH@ILG;NCIHL?=?CP?>>OLCHA=IHN;=N;NN?GJNMGOMN<?>I=OG?HN?>CHNB?MO<D?=N[MG?>C=;FL?=IL>
&H;HS=CL=OGMN;H=?
?P?LS?@@ILNMBIOF><?G;>?NI=IHN;=NNB?MO<D?=N;H>>I=OG?HNMO<D?=N
ION=IG?
C?
>I=OG?HN?>=IHN;=N;NN?GJNMPC;JBIH?=;FFM
?G;CF
?N=
IHM?J;L;N?I==;MCIHM
QCFF<?G;>?NIFI=;N?IL=IHN;=NNB?MO<D?=N
;H>ILNI>?N?LGCH?B?;FNBMN;NOM

&/;738+=39890%=>.B
FNBIOABNB?MJIHMILB;M?P?LSCHN?HNCIHI@=IGJF?NCHANB?MNO>S
NB?MJIHMILG;SN?LGCH;N?NB?
MNO>S;N;HSNCG?@IL=FCHC=;FIL;>GCHCMNL;NCP?L?;MIHM

 (%&&! "$!'&


%$
	
0"/CM;H?=IFIASI@<;=N?LC;FMJIL?M?HLC=B?>@LIGMNIIF>IH;NCIHMI<N;CH?>@LIGB?;FNBS

M=L??H?>>IHILM0"/CM@ILGOF;N?>;M;HIL;F=;JMOF?@IL;>GCHCMNL;NCIHNIJ;NC?HNM@IFFIQCHA
=?MM;NCIHI@;HNC<CINC=NB?L;JS



989;%-;//8381
!IHILM OH>?LAI ; A?H?L;F B?;FNB ?R;GCH;NCIH CH=FO>CHA A;MNLICHN?MNCH;F $& G?>C=;F BCMNILS

@;GCFC;F$&G?>C=;FBCMNILS
<FII>=B?GCMNLS
B?G;NIFIASQCNB=IGJF?N?<FII>=IOHN
OLCH;FSMCM

;H><FII>;H>@?=;FPCL;F;H><;=N?LC;FJ;NBIA?HN?MNCHA<?@IL?>IH;NCHAMNIIF1B?>IHILGOMN
MO==?MM@OFFS=IGJF?N?NB?JBSMC=;FM=L??HCHA;H>F;<IL;NILSN?MNM;@N?LNB?>IH;NCIHJ?LCI><?@IL?
NB?G;N?LC;F=;H<?L?F?;M?>@ILG;HO@;=NOLCHA>?M=LCJNCIHI@>IHILM=L??HCHAJLI=?>OL?MCM
JLIPC>?>CHNB?&HP?MNCA;NIL[MLI=BOL?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@



+8>0+-=>;381
0"/CMG;HO@;=NOL?>OMCHA=OLL?HN$II>*;HO@;=NOLCHA-L;=NC=?$*-0NIIFL;QG;N?LC;F
CMMIOL=?>@LIG>IHILMQBI;L?M=L??H?>@ILB?;FNBBCMNILS
JBSMC=;FMN;NOM
;H>;J;H?FI@J;NBIA?H
N?MNMG;N?LC;FM@LIG;MCHAF?>IHIL;L?JIIF?>NIG;E?;G;HO@;=NOLCHAFIN1B?G;HO@;=NOLCHA
JLI=?MMCH;=NCP;N?MHIHMJIL?@ILGMI@FCP?<;=N?LC;;H>@OHAC
;H>JIN?HNC;FJ;L;MCN?M;H>PCLOM?M

;H>MO<MN;HNC;FFSL?>O=?MNB?;GIOHNI@OH>CA?MN?>@II>;H>CH;=NCP;N?>HIHMJIL?=IGJIH?HNM
PC;MO==?MMCP?M?J;L;NCIHMN?JM1B?JOLC@C?>G;N?LC;FCMNB?H=IH=?HNL;N?>NI?H;<F?IL;F=;JMOF?
@ILGOF;NCIH
MNIL?>@LIT?H
;H>KO;FCNS=IHNLIFN?MN?>OHNCF@ILGOF;NCIH

"6+-/,9
-F;=?<IQCFF<?C>?HNC=;FNINB?CHP?MNCA;NCIH;FJLI>O=N<ONQCFFHIN=IHN;CHJLI>O=NMJIL?MIL
HIHMJIL?MIFC>M


%$
	+8."6+-/,93=<%=9;+1/+8.+8.6381
1B?CHP?MNCA;NCIH;FJLI>O=N0"/;H>JF;=?<IQCFF<?JLIPC>?>;M;J?LMO<D?=NECNNICH=FO>?
<INNF?M
?;=B=IHN;CHCHA@IOLMCT?=;JMOF?M
CH;HIJ;KO?
G)BCAB>?HMCNS
JIFS?NBSF?H?=IHN;CH?LM?;F?>QCNB@ICF
1B?0"/;H>JF;=?<I;L?I>ILF?MM;H>N;MN?F?MM;MJL?M=LC<?>&@=B?Q?>ILC@=;JMOF?CHN?ALCNS
CM=IGJLIGCM?>
0"/;H>JF;=?<IB;P?;MQ??NN;MN?
&HMNLO=NCIHM@ILMBCJG?HN
MNIL;A?
;==IOHN;<CFCNS
L?=IH=CFC;NCIH
;H>>?MNLO=NCIHI@MNO>S>LOA;L?
JLIPC>?>CHNB?&HP?MNCA;NIL0CN?#CF?

97:63+8-/
0O<D?=NMQCFF<?CHMNLO=N?>NIL?NOLH;FFOHOM?>G?>C=;NCIH;H>;FFOM?>J;=E;ACHAG;N?LC;FMNINB?
=FCHC=;NNB?4??EPCMCN0O<D?=N=IGJFC;H=?NIMNO>S>LOAQCFF<?=B?=E?><SNB?CHP?MNCA;NILIL
NB?CL>?MCAH??M;H>>I=OG?HN?>CHNB? /#M?A
N;<F?N=IOHN0O<D?=NMQCFF<?CHMNLO=N?>NI
N;E?;FFMNO>S>LOA>IM?MCHNB?GILHCHA;@N?L;HIP?LHCABN@;MNHINBCHA<SGIONB?R=?JN@ILMG;FF
;GIOHNMI@Q;N?LI@WBIOLM0O<D?=NMQCFF<?;ME?>NIL?G;CH@;MNCHA@ILGCHON?M@IFFIQCHA
>IMCHA0O<D?=NMGOMN=IG?NINB?=FCHC=ILM?F@;>GCHCMN?L>LOA;NBIG?IH!;S;H>!;S

/=29.90<<318381%>,4/-=<=9%=>.B&;/+=7/8=
/;H>IGCT;NCIHQCFF<?OM?>NI;PIC><C;MCHNB?;MMCAHG?HNI@MO<D?=NMNI>IO<F?<FCH>NL?;NG?HN
0"/ IL JF;=?<I ;H> NI CH=L?;M? NB? FCE?FCBII> NB;N EHIQH ;H> OHEHIQH MO<D?=N
=B;L;=N?LCMNC=MQCFF<??P?HFS>CMNLC<ON?><?NQ??HNB?NL?;NG?HNALIOJM/;H>IGCT;NCIHQCFF<?
MNL;NC@C?><S;A?S?;LM
WS?;LM;H>NSJ?I@;HNC<CINC=OM?>NINL?;NNB?KO;FC@SCHA?JCMI>?
I@ !&P;H=IGS=CH
@C>;RIGC=CH
"FCAC<F? MO<D?=NM ;L? NI <? L;H>IGFS ;MMCAH?> IH !;S  NI L?=?CP? ?CNB?L ; MCHAF? >IM? I@
I@0"/CH=;JMOF?M>;CFS@IL>;SMIL;MCHAF?>IM?I@G;N=BCHAJF;=?<ICH
=;JMOF?M>;CFS@IL>;SMCH;@;MBCIH<SOMCHA<FI=EL;H>IGCT;NCIHPC;;HCHN?L;=NCP?PIC=?
;H>Q?<L?MJIHM?MSMN?G&R/00O<D?=NMQBIKO;FC@S@ILL;H>IG;MMCAHG?HN
QCFF<?;MMCAH?>
NB?NL?;NG?HN=ILL?MJIH>CHANINB?H?RNM?KO?HNC;FFS;P;CF;<F?HOG<?LQCNBCH?;=B;A?ALIOJ;H>
NSJ? I@ ;HNC<CINC= OM?> NI NL?;N NB? KO;FC@SCHA  !& ?JCMI>? I@ NB? =IGJON?LA?H?L;N?>
(


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

L;H>IGCT;NCIHM=B?>OF?@IL=?>L;H>IGCT;NCIH;FAILCNBGQCFF;FMI<?CH=FO>?>CH&R/0NI;PIC>
@;CF?>L;H>IGCT;NCIHMCHNB?OHFCE?FS?P?HNNB;NNB?;MMCAH?>MNO>SG?>C=;NCIHCMHIN;P;CF;<F?;N
NB?MCN?1B?HOG<?LI@@IL=?>L;H>IGCT;NCIHMQCFF<?FCGCN?>;H>GIHCNIL?><SOH<FCH>?>MNO>S
J?LMIHH?F0O<D?=NM;L?=IHMC>?L?>L;H>IGFS;MMCAH?>QB?HNB?&R/0JLIPC>?MNB?L;H>IGCT;NCIH
HOG<?LNINB?CHP?MNCA;NILILCHP?MNCA;NIL[M>?MCAH??L?A;L>F?MMI@QB?NB?LNB?MO<D?=NOFNCG;N?FS
L?=?CP?MMNO>S>LOA
1B? &R/0 QCFF ;FMI ;MMCAH ;H ;JJLIJLC;N? ECN I@ >IO<F?<FCH>?> MNO>S G?>C=;NCIH NB;N QCFF <?
;P;CF;<F? ;N NB? MNO>S MCN? @IL NB;N MO<D?=N ;H> PCMCN ,H=? ; L;H>IGCT;NCIH HOG<?L B;M <??H
;MMCAH?>NI;MO<D?=N
NB?HOG<?L=;HHIN<?L?OM?>?P?HC@NB?MO<D?=N>CM=IHNCHO?M@LIGNB?MNO>S
?;LFSILQCNB>L;QM<?@IL?L?=?CPCHA;HSMNO>S>LOA0O<D?=NMQBI>CM=IHNCHO?@LIGNB?MNO>SIL
QBIB;P?<??HJL?PCIOMFSL;H>IGCT?>CHNB?MNO>SQCFFHIN<?J?LGCNN?>NIL??HN?L0CGCF;LFS

MNO>S>LOA;MMCAH?>NI;MO<D?=NG;SHIN<?L?OM?>
?P?HC@NB?ECNCML?NOLH?>OHIJ?H?>
0O<D?=NM
NB?CHP?MNCA;NILM;H>INB?LMNO>SMCN?J?LMIHH?FQCFFL?G;CH<FCH>?>NINB?NL?;NG?HN
;MMCAHG?HN1B?MJIHMILG?>C=;FGIHCNIL
MNO>SMCN?GIHCNILM
;H>INB?LMJIHMILL?JL?M?HN;NCP?M
CHPIFP?>CHNB?=FCHC=;F;MJ?=NMI@NB?MNO>S=IH>O=N;FMIQCFFL?G;CH<FCH>?>NINB?NL?;NG?HN
;MMCAHG?HN

+38=+38381=2/$+8.973C+=3989./<+8.;/+5381=2/%=>.B638.
>?MCAH;N?>L;H>IGCT;NCIH;>GCHCMNL;NIL@LIG;H?RN?LH;F
CH>?J?H>?HNP?H>ILQCFFG;CHN;CHNB?
L;H>IGCT;NCIH=I>?MCH;==IL>;H=?QCNBMN;H>;L>IJ?L;NCHAJLI=?>OL?MNI?HMOL?NB;NNB?<FCH>CM
JLIJ?LFSG;CHN;CH?>
&HP?MNCA;NILM;L?HINNI<L?;ENB?MNO>SNL?;NG?HN<FCH>?R=?JNQB?HCH@ILG;NCIH=IH=?LHCHANB?
MNO>S>LOACMH?=?MM;LS@ILNB?G?>C=;FNL?;NG?HNI@NB?MO<D?=N&@;G?>C=;F?G?LA?H=SL?KOCLCHA
OH<FCH>CHAI==OLM
NB?CHP?MNCA;NILIL>?MCAH;N?>JBSMC=C;HCMMNLIHAFS?H=IOL;A?>NI=IHN;=NNB?
G?>C=;FILM;@?NSGIHCNILNI;MM?MMNB?H?=?MMCNSI@<L?;ECHANB?MNO>S>LOA<FCH>&@OH<FCH>CHACM
Q;LL;HN?>
NB?CHP?MNCA;NILQCFFI<N;CHNB?NL?;NG?HN;MMCAHG?HNCH@ILG;NCIH@LIGNB?&R/0"P?LS
?@@ILNCMNI<?G;>?NIFCGCNMNO>SMCN?J?LMIHH?FOH<FCH>CHAIHFSNINBIM?CH>CPC>O;FMJLIPC>CHA
>CL?=N=;L?NINB;NMO<D?=NHSCHN?HNCIH;FILOHCHN?HNCIH;F<L?;ECHAI@NB?<FCH>CMNI<?L?JILN?>
CGG?>C;N?FSNINB?MJIHMIL1B?INB?L=CL=OGMN;H=?MCHQBC=BOH<FCH>CHAG;S<?H?=?MM;LS;L?;N
NB? L?KO?MN I@ ; MO<D?=N QBI <?=IG?M JL?AH;HN >OLCHA NB? MNO>S
 IL @IL L?AOF;NILS L?JILNCHA
JOLJIM?M
&@NB?<FCH>CM<LIE?H
NB?>;N?
NCG?
;H>L?;MIHGOMN<?L?=IL>?>CHNB?MO<D?=N[M? /#
;H>;HS
;MMI=C;N?>0"L?JILN
C@;JJFC=;<F?
1B?MNO>S<FCH>=I>?MQCFF<?<LIE?H;@N?LNB?MN;NCMNC=;F;H;FSMCMJF;H0-CM@CH;F;H>;FF=FCHC=;F
>;N;OJNINB?Q??E?@@C=;=S;H>M;@?NSPCMCN@IL;FFMO<D?=NM?HLIFF?>CHNB?MNO>SB;P?<??H
?HN?L?>CHNB?>;N;<;M?
=F?;H?>;H>FI=E?>1BCM>;N;QCFF<?OM?>@ILNB?Q??E?@@C=;=S;H>
M;@?NS>;N;;H;FSMCM1B?Q??E=ONI@@CMOM?>NIJL?M?LP?<FCH>CHAI@;FF?@@C=;=S;H>M;@?NS
>;N;OJNI4??E
QBC=BCMNB?JLCG;LS?@@C=;=SNCG?JICHN@ILNB?"*,HFS;MG;FFN?;G;N
0?L?M1B?L;J?ONC=M
MJ?=C@C=;FFSNB? BC?@*?>C=;F,@@C=?LIL>?MCAH??
NB?0?HCIL3C=?-L?MC>?HN
I@/?AOF;NILS@@;CLM
;H>0N;NCMNC=;F IHMOFN;HN&*!QCFFB;P?;==?MMNINB?OH<FCH>?>N;<F?M

FCMNCHAM;H>@CAOL?M1)#M;NNBCMNCG?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


98-973=+8=/.3-+=398<


";923,3=/.98-973=+8=/.3-+=398<";9-/.>;/<
1B?@IFFIQCHANB?L;JC?M;L?JLIBC<CN?>@ILNB?>OL;NCIHI@NB?MNO>S
• -LI<CINC=M
• )IJ?L;GC>?
• !CJB?HIRSF;N?;NLIJCH?
•  BIF?MNSL;GCH?
• ,JC;N?NL?;NG?HNOHF?MMIH;MN;<F?>IM?+IN?0BILNN?LGIJC;N?OM?CMJ?LGCNN?>?A

@IL;>?HN;F?RNL;=NCIH
• ,L;F#C>;RIGC=CH
IL;FG?NLIHC>;TIF?
IL;FP;H=IGS=CH
OM?>NINL?;N@IL;HSNBCHA
?FM?INB?LNB;HMOMJ?=N?>IL=IH@CLG?> !&L?=OLL?H=?M
• #?=;F*C=LI<CIN;1L;HMJF;HN;NCIH#*1JLCILNIL?=OLL?H=?CHNB?MNO>S

;3=/;3+
09;
9803;7/.
	

	
$/->;;/8-/
"9<=$+8.973C+=398
0O<D?=NMMOMJ?=N?>I@B;PCHA !&QCFF<?;ME?>NI=IHN;=NNB?CHP?MNCA;NIL;H>L?NOLHNINB?=FCHC=
@IL;MNIIFNIRCHN?MN;H>?P;FO;NCIH@ILL?=OLL?H=?I@ !&/?=OLL?H=?3CMCNM??
0?=NCIH
0O<D?=NMGOMN@OF@CFFNB?@IFFIQCHA=LCN?LC;
 WOH@ILG?>MNIIFMJ?L>;SIP?L=IHM?=ONCP?>;SM
− !C;LLB?;MBIOF>=IHNCHO?OJOHNCFNB?>;S;HNC<CINC=MNINL?;N !&;L?CHCNC;N?>
 JIMCNCP?N?MNIH;MNIIFM;GJF?>?N?LGCH?<S;NIRCH;MM;S
− MNIIFN?MNG;S<?J?L@ILG?>;NNB?FI=;FF;<IL;NILSNICH@ILGMO<D?=N
=;L?NB?=?HNL;FF;<IL;NILSL?MOFNQCFF<?OM?>@ILNB?JLCG;LS?H>JICHN;H;FSMCM
1B?=?HNL;FF;<IL;NILSL?MOFNMQCFF<?=IGGOHC=;N?>NINB?CHP?MNCA;NIL
 MM?MMG?HN<SNB?CHP?MNCA;NILNB;NNB?=FCHC=;F=IH>CNCIHI@NB?MO<D?=NQ;LL;HNMNL?;NG?HN

%&'*"$!'$%
1B?M=B?>OF?I@;MM?MMG?HNM;H>JLI=?>OL?MCMJL?M?HN?>CH1;<F?


>;+=39890"+;=3-3:+=398
1B?>OL;NCIHI@MNO>SJ;LNC=CJ;NCIHCMOJNI;JJLIRCG;N?FSQ??EM
=IHMCMNCHAI@;0=L??HCHA
-?LCI>F;MNCHAOJNIUQ??EM
;HQ??E"@@C=;=S-?LCI>
;H>;Q??E#IFFIQ2J-?LCI>@LIG
L;H>IGCT;NCIHIH!;S


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


/.3-+63<=9;B
N NB? NCG? I@ 0=L??HCHA
 MO<D?=NM QCFF <? ?P;FO;N?> @IL CH=FOMCIH ;H> ?R=FOMCIH =LCN?LC;
 ;H>
G?>C=;FBCMNILSQCFF<?I<N;CH?>QCNBJ;LNC=OF;L;NN?HNCIHNIJLCIL !&BCMNILSW?JCMI>?MI@ !&
QCNBCHNB?JL?PCIOMGIHNBMCML?KOCL?>!I=OG?HN?>BCMNILSGOMN<?I<N;CH?>@IL?JCMI>?M
I@ !&QCNBCHNB?JL?PCIOMGIHNBM
CH=FOMCP?I@NB?=OLL?HN?JCMI>?!I=OG?HN;NCIHGOMN
CH=FO>?>;N?M
N?MNL?MOFNM
;H>;HNC<CINC=NL?;NG?HNML?=?CP?>"@@ILNMMBIOF><?G;>?NI;=KOCL?
BCMNILSI@;>>CNCIH;F !&?JCMI>?M<?SIH>NB?L?KOCL?>>I=OG?HN?>?JCMI>?MCH=FO>CHA>;N?M

N?MNL?MOFNM
;H>;HNC<CINC=NL?;NG?HNML?=?CP?>

"2B<3-+6A+738+=398
JBSMC=;F?R;GCH;NCIHQCFF<?=IH>O=N?><S;JBSMC=C;H;NNB?NCG?JICHNMCH>C=;N?>CH1;<F?
@I=OM?>BCMNILS;H>JBSMC=;FQCFF<?=IH>O=N?>;N4??E;H>;NNB?";LFS1?LGCH;NCIH3CMCNIL
;HS/?=OLL?H=?3CMCNNINB?MNO>SMCN?
C@;JJFC=;<F?

9.B)/312=+8./312=
I>SQ?CABNQCFF<?I<N;CH?>;N;FFCH=FCHC=PCMCNM;==IL>CHANINB?M=B?>OF?CH1;<F?%?CABN
QCFF<?I<N;CH?>;NNB?CH=FCHC=0=L??HCHA3CMCNIHFS

(3=+6%318<
3CN;FMCAH;MM?MMG?HNMCH=FO>CHAMSMNIFC=;H>>C;MNIFC=<FII>JL?MMOL?
JOFM?
L?MJCL;NILSL;N?
;H>
IL;F<I>SN?GJ?L;NOL?G?;MOL?G?HNMQCFF<?I<N;CH?>;NNB?PCMCNMCH>C=;N?>CH1;<F?3CN;FMCAH
;MM?MMG?HNMIH!;SMBIOF><?I<N;CH?>CGG?>C;N?FS<?@IL?;H>;JJLIRCG;N?FSGCHON?M;@N?L
>IMCHA&H;>>CNCIH
IL;F<I>SN?GJ?L;NOL?G?;MOL?G?HNMQCFF<?I<N;CH?><SNB?MO<D?=NIH!;SM
;H>>I=OG?HN?>IHNB?0IFC=CN?>">C;LS

+,9;+=9;B<</<<7/8=<
FFB?G;NIFIAS;H><FII>=B?GCMNLSF;<IL;NILSN?MNMQCFF<?J?L@ILG?><SNB?=?HNL;FF;<IL;NILS
1B?F;<IL;NILS@;=CFCNC?M@IL;H;FSMCMI@=FCHC=;FF;<IL;NILSM;GJF?MI<N;CH?>OH>?LNBCMJLINI=IF
QCFFB;P?;>?KO;N?FC=?HMOL?;H>;==L?>CN;NCIH2LCH?JL?AH;H=SN?MNMQCFF<?J?L@ILG?>;NNB?
MCN?M!?N;CFMI@M;GJF?B;H>FCHA
MJ?=C@C=N?MNMJ?L@ILG?>
;H>G?NBI>IFIASQCFF<?JLIPC>?>CH
NB?);<IL;NILS*;HO;F


/7+=9691B+8.,699.-2/73<=;B
FII>M;GJF?M@ILB?G;NIFIAS;H><FII>=B?GCMNLSQCFF<?I<N;CH?>;==IL>CHANINB?M=B?>OF?CH
1;<F?FII>M;GJF?M@ILB?G;NIFIAS;H><FII>=B?GCMNLSI<N;CH?>IH!;SJL?>IM?QCFF<?
OM?>NI>?N?LGCH?<;M?FCH?>;N;
<ONQCFFHIN<?OM?>NI=IH@CLG?FCAC<CFCNS=LCN?LC;
1B?=?HNL;FF;<IL;NILSQCFF@F;AMO<D?=NMC@NB?SB;P?;FFI@NB?@IFFIQCHA;<HILG;FF;<IL;NILS
L?MOFNM
• F;HCH?;GCHINL;HM@?L;M?)1WROJJ?LFCGCNI@HILG;F2)+
• MJ;LN;N?;GCHINL;HM@?L;M?01WR2)+
• 1IN;F<CFCLO<CHR2)+


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• FE;FCH?JBIMJB;N;M?R2)+
1B?M?MO<D?=NMG??NNB?=IH>CNCIHMI@;%S[M);Q=;M?
;H>MBIOF><?L?JILN?>CHNB?M;G?G;HH?L
;M;H0"M??0?=NCIH

';38+6B<3<
2LCH?>CJMNC=EN?MNCHAQCFF<?J?L@ILG?>;NNB?MNO>SMCN?;==IL>CHANINB?M=B?>OF?CH1;<F?&@
L?MOFNM@ILHCNL;N?MILF?OEI=SN?M;L?JIMCNCP?
NB?OLCH?M;GJF?G;S<?M?HNNINB?=?HNL;FF;<IL;NILS
@IL;H;FSMCM;NNB?>CM=L?NCIHI@NB?CHP?MNCA;NIL

";/18+8-B&/<=381
4IG?HI@=BCF><?;LCHAJIN?HNC;F4, -QCFFB;P?M?LOGJL?AH;H=SN?MNM;N0=L??HCHA
;H>;
OLCH?JL?AH;H=SN?MN<?@IL?>IMCHAIH!;S
;N4??E
;H>;NNB?"1PCMCNIL;HSL?=OLL?H=?PCMCN

C@;JJFC=;<F?

%=996%+7:6/966/-=398+8.8+6B<3<
0O<D?=NMQCFF<?;ME?>NI=IFF?=NMNIIF;NBIG?ILCHNB?=FCHC=;==IL>CHANINB?M=B?>OF?CH1;<F?
1B?M;GJF?=IFF?=N?>IH!;SG;S<?<LIOABNNINB?MNO>SMCN?@ILNB?!;S3CMCN&@NB?MO<D?=N
CMOH;<F?NI<LCHANB?MNIIFM;GJF?NINB?MNO>SMCN?@IL;HSPCMCN
;LL;HA?G?HNMG;S<?G;>?NI
JC=EOJNB?M;GJF?;NNB?MO<D?=N[MBIG?;H><LCHACNNINB?MNO>SMCN?ILG;SMBCJ>CL?=NFSNINB?
=?HNL;FF;<IL;NILSC?
BIG?PCMCN<SHOLM?IL=IOLC?L0;GJF?M<LIOABNNINB?MNO>SMCN?QCFF<?
JLI=?MM?> ;H> NB?H MBCJJ?> NI ; =?HNL;F F;<IL;NILS ;==IL>CHA NI JLI=?>OL?M >?@CH?> CH NB?
);<IL;NILS*;HO;F0NIIF=IFF?=NCIHECNMQCFF<?JLIPC>?>NINB?MO<D?=NM<SNB?MNO>SMCN?M
  CMIF;NCIH ;H> LC<INSJ? ;H;FSMCM QCFF <? J?L@ILG?> IH MNIIF M;GJF?M I<N;CH?> ;N
0=L??HCHA;H>;N;/?=OLL?H=?C@;JJFC=;<F?&@NB?M;GJF?I<N;CH?>;N0=L??HCHACMHIN;P;CF;<F?
@ILLC<INSJCHA
;JILNCIHI@NB?MNIIFM;GJF?=IFF?=N?>JLCILNINB?<IQ?F=F?;HM?IH!;SMBIOF>
<?OM?>@ILLC<INSJ?;H;FSMCM*C=LI<CIG?;H>G?N;<IFIGC=MN?MNCHAG;S<?J?L@ILG?>IHMIG?
IL;FFMNIIFM;GJF?M=IFF?=N?>IH!;SJLCILNI;>GCHCMN?LCHANB?<IQ?F=F?;HM?
;N4??E

4??E
4??E
4??E@ILGC=LI<CIG?N?MNCHAIHFS
;H>;NNB?";LFS1?LGCH;NCIH3CMCNIL
;HS/?=OLL?H=?3CMCNNINB?MNO>SMCN?
C@;JJFC=;<F?
&@L?=OLL?HN !&CMMOMJ?=N?>
NICH@ILGMO<D?=N=;L?
;N?MN=;H<?J?L@ILG?><S;
 )&=?LNC@C?>FI=;FF;<IL;NILSOMCHA;H#!;JJLIP?>N?MNCHIL>?LNICH@ILGMO<D?=NNL?;NG?HN
0NIIFM;GJF?M=IFF?=N?>@ILMOMJ?=N?> !&L?=OLL?H=?GOMN;FMI<?JLI=?MM?>;H>MBCJJ?>NI;
=?HNL;F F;<IL;NILS @IL   MNIIF N?MNCHA ;H>   CMIF;NCIH ;H> LC<INSJCHA M??
);<IL;NILS*;HO;F@IL>?N;CFMI@N?MNCHAJ?L@ILG?>;NNB?=?HNL;FF;<IL;NILS1B?
MO<D?=NMBIOF>HINCHCNC;N?;HNC<CINC=NL?;NG?HN@ILMOMJ?=N?> !&JLCILNIJLIPC>CHA;MNIIFM;GJF?
@IL NB? =?HNL;F F;<IL;NILS MNIIF N?MNCHA !;N; @LIG NB?  NIRCH ;MM;S ?CNB?L ?HTSG?
CGGOHI;MM;S8"&9IL=?FF=SNINIRC=CNSH?ONL;FCT;NCIH;MM;S8  +9
J?L@ILG?>;NNB?=?HNL;F
F;<IL;NILS
QCFF<?OM?>@ILNB?JLCG;LS?H>JICHN;H;FSMCM1B?=?HNL;FF;<IL;NILSL?MOFNMQCFF<?
=IGGOHC=;N?>NINB?CHP?MNCA;NIL;H>NB?>?=CMCIHNINL?;NQCNB;HNC<CINC=MQCFF<?<;M?>OJIHNB?CL
;MM?MMG?HN


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


396913-+6%:/-37/8966/-=39809;>=>;/397/.3-+6$/</+;-2
1B?MJIHMILG;S=IH>O=N@ONOL?<CIG?>C=;FL?M?;L=BIHMJ?=CG?HMCH=FO>CHA<FII>
M?LOG
;H>
MNIIFLIONCH?FS;H>MJ?=C@C=;FFS=IFF?=N?>>OLCHANBCM=FCHC=;FMNO>S@ILJIN?HNC;F=IGG?L=C;FOM?
<S0?L?M1B?L;J?ONC=M
&H=;H>MJ?=CG?HMG;S<?MNIL?>@ILOJNIS?;LM1BCML?M?;L=BG;S
CH=FO>?A?H?NC=;H;FSM?M>?IRSLC<IHO=F?C=;=C>8!+9ILLC<IHO=F?C=;=C>8/+9;H>ILNB?
G?;MOL?G?HNI@INB?L;H;FSN?M

983=9;381903+;;2/+6%B7:=97<+8./8/;+6/+6=2
0O<D?=NMQCFF<?CHMNLO=N?>NI=IGJF?N?;>;CFS>C;LLB?;FIAM??&HP?MNCA;NIL0CN?#CF?NICH=FO>?
>;SMQCNB>C;LLB?;;MQ?FF;MHI>C;LLB?;N;FFM=B?>OF?>N?F?JBIH?=;FFM;H>MNO>SMCN?PCMCNM

MO<D?=NMQCFF<?KO?LC?>L?A;L>CHAA?H?L;FQ?FF<?CHA"M>C;LLB?;FMSGJNIGM
CH=FO>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>?M=LC<?>;M>C;LLB?;;H>=IH=IGCN;HNG?>C=;NCIHM
;==IL>CHANI;MN;H>;L>CT?>KO?MNCIHH;CL?HSMO<D?=NMOMJ?=N?>I@B;PCHA;H?JCMI>?I@ !&J?L
JLINI=IF>?@CHCNCIHWOH@ILG?>MNIIFMJ?L>;SF;MNCHAW=IHM?=ONCP?>;SMQCFF<?;ME?>NI
=IG?CH@IL;HCH=FCHC=PCMCN
QB?L?JIMMC<F?
@IL;MNIIFNIRCHN?MN;H>?P;FO;NCIH@IL
L?=OLL?H=?I@ !&M??0?=NCIH&H;>>CNCIH
MO<D?=NMQCFFOM?;J;NC?HNL?JILN?>>C;LS=;L>
NI=;JNOL?MIFC=CN?>;>P?LM??P?HNM@IL>;SM;@N?L!;SI@MNO>S>LOA!;SNBLIOAB!;S

	
/+6=2!>=-97/<</<<7/8=
&H@ILG;NCIHMO=B;MGILN;FCNS@LIG;HS=;OM?
BIMJCN;FCT;NCIHM
;H>BIMJCN;FF?HANBI@MN;SCH
>;SM
CH=FO>CHA>;SMCHNB?CHN?HMCP?=;L?OHCN
QCFF<?=IFF?=N?>;MJ;LNI@NB?B?;FNBION=IG?M
;MM?MMG?HNNBLIOABIONNBCMMNO>S



#>+63=B9030/<</<<7/8=
1B? ".!) CM ; MN;H>;L>CT?> G?;MOL? I@ B?;FNB MN;NOM 1B?  !C@@ %/.I) CM ; H?QFS
>?P?FIJ?>;H>P;FC>;N?>B?;FNBL?F;N?>KO;FCNSI@FC@?KO?MNCIHH;CL?MJ?=C@C=NIJ;NC?HNMQCNB !&
$;L?S?N;F
0O<D?=NMQCFF=IGJF?N?NB?".!);H> >C@@%/.I);NNB?NCG?JICHNM
CH>C=;N?>CHNB?0=B?>OF?I@MM?MMG?HNM1;<F?


6383-+6$/<:98</?+6>+=398
/?=OLL?H=?I@ !&QCFF<?>?N?LGCH?><SNB?CHP?MNCA;NIL<;M?>IHNB?@IFFIQCHA>?@CHCNCIH
•  !&?JCMI>?CM>?@CH?>;MWOH@ILG?>MNIIFMJ?L>;SIP?L=IHM?=ONCP?>;SMQCNB
;JIMCNCP?MNIIFN?MNIH;MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;S;H>;
>?=CMCIH<SNB?CHP?MNCA;NIL
<;M?>IH=FCHC=;F;MM?MMG?HN
NB;N;HNC<CINC=NL?;NG?HNCM
H??>?>
&@MO<D?=NM?RJ?LC?H=?>C;LLB?;MSGJNIGMWOH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SMIL
MOMJ?=N; !&?JCMI>?
NB?SMBIOF>=IHN;=NNB?CHP?MNCA;NILCGG?>C;N?FSCH=FO>CHAIHQ??E?H>M
NI;LL;HA?;/?=OLL?H=?3CMCN@IL=FCHC=;F?P;FO;NCIH;H>;MNIIFNIRCHN?MN1B?MO<D?=N
MBIOF> HIN CHCNC;N? ;HNC<CINC= NL?;NG?HN @IL MOMJ?=N?>  !& OHNCF CHMNLO=N?> NI >I MI <S NB?
CHP?MNCA;NIL
;@N?LJLIPC>CHA;MNIIFM;GJF?@ILNB?=?HNL;FF;<IL;NILSMNIIFN?MNCHA


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


	
%&'*%'
1B?0=B?>OF?I@MM?MMG?HNM;H>-LI=?>OL?MCMJL?M?HN?>CH1;<F?0NO>S>;SM;L?L?F;NCP?NI
NB?IL;F;>GCHCMNL;NCIHI@NB?@CLMN>IM?I@MNO>S>LOAIH!;SMM?MMG?HNMQCFF<?J?L@ILG?>
;H>HIN?>CH?;=BMO<D?=N[M=B;LNILL?=IL>MH?=?MM;LS@ILM;@?NSI@MO<D?=N
MNO>SPCMCNM
CH=FO>CHA 
G;S<?=IH>O=N?>L?GIN?FS;N
MO<D?=N[MBIG?
QCNBKO;FC@C?>HOLM?ILMCN?J?LMIHH?FQBIQCFF<?;JJLIJLC;N?FS>I=OG?HN?>IH
NB?MCN?[M>?F?A;NCIHFIANIJ?L@ILGNB?M?/?GIN?0NO>S3CMCNM;H>;MMI=C;N?>JLI=?>OL?M&@;
HOLM?ILMCN?J?LMIHH?F=;HHINJ?L@ILGNB?PCMCNM
;N?F?JBIH?=;FFIL;PC>?I=IH@?L?H=?7IIG

0ESJ?
#;=?1CG?
?N=MBIOF><?=IH>O=N?>CHJF;=?I@NB?4??E
4??E
2HM=B?>OF?>
;H>
/?=OLL?H=?";LFS1?LGCH;NCIHPCMCNM;H>GOMN<?>I=OG?HN?>CHNB?MIOL=?HSL?KOCL?>
JLI=?>OL?MHINJ?L@ILG?>>OLCHA;L?GIN?PCMCN;NNB?MO<D?=N[MBIG?QCFF<?>I=OG?HN?>;M;
JLINI=IF>?PC;NCIH<SMCN?MN;@@1B?IJNCIHI@;>>CNCIH;FBIG?PCMCNMQ;M;>>?>NIG;CHN;CH
@IFFIQOJQB?HMO<D?=NMQ?L?HIN;<F?NI<?M??HCHNB?=FCHC=@ILJF;HH?>MNO>SPCMCNM>O?NI
 ,3&!


	

%-;//8381"/;39.

	


6383-(3<3=+B=9+B
• @N?L ; @OFF ?RJF;H;NCIH I@ NB? MNO>S JLINI=IF
 B;P? ?;=B MO<D?=N IL NB?CL F?A;FFS
;ONBILCT?>L?JL?M?HN;NCP?MCAH;HCH@ILG?>=IHM?HN@ILG& #<?@IL?J?L@ILG;H=?I@
;HSMNO>SL?F;N?>;=NCPCNSCH=FO>CHA0=L??HCHA;=NCPCNC?M
• /?ACMN?LMO<D?=NCHNB?&R/0
• MM?MM?;=BMO<D?=NNI?HMOL?;FFCH=FOMCIH=LCN?LC;;L?G?N;H>HI?R=FOMCIH=LCN?LC;;L?
G?N
• -?L@ILG>C;LLB?;;MM?MMG?HN
− ;&@MO<D?=NCMMOMJ?=N?>I@B;PCHA;=NCP? !&WOH@ILG?>MNIIFMJ?L>;S@IL
=IHM?=ONCP? >;SM
 ;   N?MN IH OH@ILG?> MNIIF MBIOF> <? M?HN NI NB?
=?HNL;FF;<@ILN?MNCHA<S;NIRCH;MM;S
− <&@MO<D?=NCM;FL?;>SN;ECHA;HNC<CINC=M@IL;H;=NCP? !&
?HMOL?NB;NNB?L?ACG?H
CM=IHMCMN?HNQCNBNB?JLINI=IFC?
NI>;SMI@MN;H>;L>I@=;L?;HNC<CINC=M

>?@CH?>;MNL?;NG?HNQCNBP;H=IGS=CH8GA.&!9IL@C>;RIGC=CH8GA&!9

<ON?R=FO>CHAJOFM?N;J?L?>;HNC<CINC=L?ACG?HMLL;HA?NIB;P?MNIIFM;GJF?
@LIGNB?FI=;FF;<IL;NILSNB;NJ?L@ILG?>NB?>C;AHIMNC=N?MNCHAMBCJJ?>
NINB?=?HNL;FF;<IL;NILS@ILMNIIFN?MNCHAM??);<IL;NILS*;HO;F&@;
MNIIFM;GJF?CMHIFIHA?L;P;CF;<F?;H>NB?MO<D?=NB;>;JIMCNCP?N?MNIH
;MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;S<SNB?FI=;FF;<IL;NILS
NB?HNB?MO<D?=N
G;S<?CH=FO>?>3?LC@SNB;NMO<D?=N=;H<?>IM?>QCNBMNO>S>LOAQCNBCH>;SMI@
MN;H>;L>I@=;L?;HNC<CINC==IGJF?NCIH
− 0BCJMNIIFM;GJF?NI=?HNL;FF;<IL;NILS@ILCMIF;NCIH;H>LC<INSJCHA


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

− MH?=?MM;LS
JL?M=LC<?;NI>;SMN;H>;L>I@=;L?;HNC<CINC=L?ACG?H>?@CH?>
;MNL?;NG?HNQCNBP;H=IGS=CH8GA.&!9IL@C>;RIGC=CH8GA&!9
<ON
?R=FO>CHAJOFM?N;J?L?>;HNC<CINC=L?ACG?HMNI=IHNLIF !&
• ,<N;CHJLCIL;H>=IH=IGCN;HNG?>C=;NCIHOM?QCNBCHNB?Q??EM<?@IL?;HNC=CJ;N?>
L;H>IGCT;NCIH
CH=FO>CHAJLCIL;HNC<CINC=ILCGGOHIMOJJL?MMCP?G?>C=;NCIHOM?NB;N
G;S;@@?=N?FCAC<CFCNS
• ,<N;CH G?>C=;F BCMNILS
 CH=FO>CHA <;M?FCH? =IH>CNCIHM !I=OG?HN?> BCMNILS I@  IL
GIL? ?JCMI>?M I@  !& QCNBCH NB? JL?PCIOM  GIHNBM
 CH=FOMCP? I@ NB? =OLL?HN
KO;FC@SCHA?JCMI>?
CH=FO>CHA>;N?M
N?MNL?MOFNM
;H>;HNC<CINC=NL?;NG?HNML?=?CP?>
GOMN<?I<N;CH?>"@@ILNMMBIOF><?G;>?NI;=KOCL?BCMNILSI@;>>CNCIH;F !&?JCMI>?M
<?SIH> NB?  L?KOCL?> >I=OG?HN?> ?JCMI>?M CH=FO>CHA >;N?M
 N?MN L?MOFNM
 ;H>
;HNC<CINC= NL?;NG?HNM L?=?CP?> &H ;>>CNCIH
 NB? @IFFIQCHA CH@ILG;NCIH MBIOF> <?
I<N;CH?>
− 2M?I@;HNC<CINC=M<?@IL?NB?MNO>S;H>NB?>OL;NCIHI@NB?CLOM?
− 2M?I@JLINIHJOGJCHBC<CNILMIL;HN;=C>M<?@IL?NB?MNO>S
− &H@ILG;NCIH;<IONNB?MNL;CHMI@L?MJIHMC<F?@ILNB?JL?PCIOMCH@?=NCIHM

C@;P;CF;<F?
• -?L@ILG ; JBSMC=;F ?R;GCH;NCIH
 CH=FO>CHA PCN;F MCAH G?;MOL?G?HNM C?
 <FII>
JL?MMOL?
JOFM?
L?MJCL;NILSL;N?
;H><I>SN?GJ?L;NOL?
B?CABN
;H>Q?CABN
•  IFF?=N<FII>;H>OLCH?M;GJF?M;H>MBCJNINB?=?HNL;FF;<IL;NILS@IL?P;FO;NCIHI@
− FII>=B?GCMNLS
− %?G;NIFIAS
− 2LCH?>CJMNC=EJ?L@ILG?>;NNB?MNO>SMCN?C@JIMCNCP?@ILHCNL;N?M;H>ILF?OEI=SN?M

M;GJF?G;S<?M?HNNI=?HNL;FF;<IL;NILS@IL;H;FSMCM;NNB?CHP?MNCA;NIL[M>CM=L?NCIH
− 0?LOGJL?AH;H=SN?MN
C@;JJFC=;<F?
• &HMNLO=N MO<D?=NM NB;N
 MBIOF> NB?S ?HLIFF CH NB? MNO>S
 NB?S QCFF H??> NI G??N NB?
@IFFIQCHAL?KOCL?G?HNM
− &@MO<D?=NCM=OLL?HNFSN;ECHA;JLI<CINC=
MO<D?=NGOMNMNIJN;ECHACN@ILNB?>OL;NCIH
I@NB?MNO>S
− ,H;HS>;S@LIG!;SNI!;S
MO<D?=NCMNIN;E?NB?CLF;MN>IM?I@MN;H>;L>I@
=;L?;HNC<CINC=NL?;NG?HN@ILNB?CL !&
− ,H!;S
<?@IL?<?ACHHCHANB?G;AH?MCOG=CNL;N?IL$I)SN?FSJIFS?NBSF?H?
AFS=IF?F?=NLIFSN?MIFONCIH<IQ?F=F?;HM?
MO<D?=NCMNI=IFF?=N;MNIIFM;GJF?
− ,HNB??P?HCHAI@!;S
MO<D?=NGOMNN;E?<INNF?ITUG)I@G;AH?MCOG
=CNL;N? IL
 @IL MO<D?=NM QCNB CGJ;CL?> EC>H?S @OH=NCIH
  G) I@ $I)SN?FS
8JIFS?NBSF?H?AFS=IF?F?=NLIFSN?MIFONCIH9@IFFIQ?><S;@;MNHI@II>IL>LCHEINB?L
NB;HMG;FF;GIOHNMI@Q;N?L@ILWBIOLM<?@IL?L?=?CJNI@MNO>S>LOAOHNCF;NF?;MN
BIOL;@N?LL?=?CJNI@NB?MNO>S>LOANB?H?RN>;S


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

− ,H!;S
MO<D?=NGOMNN;E?IL;F=;JMOF?MI@MNO>S>LOA;H>=IHNCHO?NB?CL@;MN
@ILBIOL;@N?L>IMCHA
− 0O<D?=NMQBI>IHIN;LL;HA?CH=FCHC=PCMCNMIH!;SM;H>
QCFFL?=?CP?;>;S
MOJJFSI@MNO>S>LOAQCNBCHMNLO=NCIHM@ILBIG?;>GCHCMNL;NCIHI@MCHAF?>;CFS>IM?M
CHNB?GILHCHA<?@IL?<L?;E@;MNIH!;S;H>!;S
− 0NIIFM;GJF?MQCFF<?=IFF?=N?><SNB?MO<D?=N;NBIG?;H><LIOABNNINB?=FCHC=;N
0=L??HCHA
!;S
4??E
4??E
4??E
4??E
;H>;NNB?";LFS1?LGCH;NCIH
3CMCNIL;HS/?=OLL?H=?3CMCNC@;JJFC=;<F?&@NB?MO<D?=NCMOH;<F?NI<LCHANB?
MNIIFM;GJF?NINB?MNO>SMCN?@IL;HSPCMCN
;LL;HA?G?HNMG;S<?G;>?NIJC=EOJ
NB?M;GJF?;NNB?MO<D?=N[MBIG?;H><LCHACNNINB?MNO>SMCN?ILG;SMBCJ>CL?=NFS
NINB?=?HNL;FF;<IL;NILSC?
BIG?PCMCN<SHOLM?IL=IOLC?L0;GJF?M<LIOABNNI
NB?MNO>SMCN?QCFF<?JLI=?MM?>;H>NB?HMBCJJ?>NI;=?HNL;FF;<IL;NILS;==IL>CHA
NI JLI=?>OL?M >?@CH?> CH NB? );<IL;NILS *;HO;F 0NIIF =IFF?=NCIH ECNM QCFF <?
JLIPC>?>@ILNB?M?;NBIG?=IFF?=NCIHM
− 0O<D?=NM;L?NI=IHN;=NNB?CHP?MNCA;NILCGG?>C;N?FSCH=FO>CHAIHQ??E?H>MC@NB?S
?RJ?LC?H=?>C;LLB?;FMSGJNIGMILMOMJ?=N; !&?JCMI>?NI;LL;HA?;/?=OLL?H=?
3CMCNM??0?=NCIH@IL=FCHC=;F?P;FO;NCIH;H>;MNIIFNIRCHN?MN
>PCM?MO<D?=NMNB;N;HNC<CINC=NL?;NG?HNMBIOF><?CHCNC;N?>IHFS;@N?L;JIMCNCP?
N?MN
;H>=FCHC=;F;MM?MMG?HN<SNB?CHP?MNCA;NIL
− -LIPC>?J;J?L>C;LLB?;FIA;NNB?M=L??HCHAPCMCN!;SNI!;S;H>CHMNLO=N
MO<D?=NNI=IGJF?N?NB?FIA>;CFS

	

";/=;/+=7/8=";/:+;+=398"298/+66(3<3=+B=9
 IHN;=NMO<D?=N<SJBIH?NI
• -?L@ILG >C;LLB?; ;MM?MMG?HN NI ?HMOL? NB;N MO<D?=N[M >C;LLB?; B;M <??H =IHNLIFF?>
OH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SM
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• /?GCH>MO<D?=NNIHINN;E?;HNC<CINC=M<?SIH>!;S
• /?GCH>MO<D?=NNI=IFF?=N;MNIIFM;GJF?<?@IL?<?ACHHCHANB?G;AH?MCOG=CNL;N?IL
$I)SN?FSJIFS?NBSF?H?AFS=IF?F?=NLIFSN?MIFONCIH<IQ?F=F?;HM?IH!;S

	

";/=;/+=7/8=";/:+;+=398"298/+66(3<3=+B

 IHN;=NMO<D?=N<SJBIH?NI
• "HMOL? ;FF CH=FOMCIH =LCN?LC; =IHNCHO? NI <? G?N ;H> HI ?R=FOMCIH =LCN?LC; ;L? G?N

CH=FO>CHANB;NMO<D?=N[M !&B;ML?MJIH>?>NI;HNC<CINC=MQCNBION>C;LLB?;IP?LNB?
JL?PCIOM>;SMOH@ILG?>MNIIFMJ?L>;S
• "HMOL?MO<D?=NB;M>CM=IHNCHO?>;HNC<CINC=MNI=IHNLIF !&MSGJNIGM
;H>B;MB;>NB?CL
F;MN>IM?I@;HNC<CINC=IH;HS>;S@LIG!;SNI!;S
• /?GCH>MO<D?=NNI=IFF?=N;MNIIFM;GJF?<?@IL?<?ACHHCHANB?G;AH?MCOG=CNL;N?IL
$I)SN?FS<IQ?F=F?;HM?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• "HMOL? MO<D?=N =IHMOG?M ;  IT U G) <INNF? I@ G;AH?MCOG =CNL;N? IL
 @IL
MO<D?=NMQCNBCGJ;CL?>L?H;F@OH=NCIH
G)I@$I)SN?FS;H>CMJL?J;L?>NI@;MN
IP?LHCABNHI@II>IL>LCHEINB?LNB;HMG;FF;GIOHNMI@Q;N?L@ILWBIOLM<?@IL?
;HNC=CJ;N?>L?=?CJNI@MNO>S>LOA
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• /?GCH>MO<D?=NNI<LCHANB?CL!;SMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILS

	
003-+-B"/;39.

	

6383-(3<3=+B


	

 /09;/.7383<=/;381%=>.B;>1";/.9</
• MM?MMMO<D?=NNI?HMOL?;FFCH=FOMCIH=LCN?LC;;L?G?N;H>HI?R=FOMCIH=LCN?LC;;L?G?N

CH=FO>CHA NB;N MO<D?=N[M  !& B;M L?MJIH>?> NI ;HNC<CINC=M QCNBION >C;LLB?; @IL NB?
JL?PCIOM>;SMOH@ILG?>MNIIFMJ?L>;S
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM;H>OJ>;N?CH@ILG;NCIHL?A;L>CHAJLCILG?>C=;NCIH
OM? IH@CLGNB;NMO<D?=NNIIENB?CLF;MN>IM?I@MN;H>;L>I@=;L?;HNC<CINC=NL?;NG?HN
@ILNB?CL !&IH;HS>;S@LIG!;SNI!;S
• "HMOL?MO<D?=N=IHMOG?>;ITUG)<INNF?I@G;AH?MCOG=CNL;N?ILG)I@
$I)SN?FSIH!;S
• "HMOL?MO<D?=NCMOH>?LAICHA;@;MNHI@II>IL>LCHEINB?LNB;HMG;FF;GIOHNMI@Q;N?L
@ILWBIOLM<?@IL?;HNC=CJ;N?>L?=?CJNI@MNO>S>LOA
• ,<N;CHMNIIFM;GJF?@LIGMO<D?=N[M!;S;NBIG?=IFF?=NCIH;H>JLI=?MM
MNIL?
;H>
MBCJJ?L);<IL;NILS*;HO;F
• -?L@ILG ; JBSMC=;F ?R;GCH;NCIH
 CH=FO>CHA PCN;F MCAH G?;MOL?G?HNM C?
 <FII>
JL?MMOL?
JOFM?
L?MJCL;NILSL;N?
;H><I>SN?GJ?L;NOL?;H>Q?CABN
•  IFF?=N<FII>;H>OLCH?M;GJF?M@ILNB?@IFFIQCHAF;<IL;NILSN?MNM
− FII>=B?GCMNLS
− %?G;NIFIAS
− FII>@IL@ONOL?<CIG?>C=;FL?M?;L=B
− 0?LOG@IL@ONOL?<CIG?>C=;FL?M?;L=B
− 2LCH?>CJMNC=EJ?L@ILG?>;NNB?MNO>SMCN?C@JIMCNCP?@ILHCNL;N?M;H>ILF?OEI=SN?M

NB?M;GJF?G;S<?M?HNNI=?HNL;FF;<IL;NILS@IL;H;FSMCM;NNB?>CM=L?NCIHI@NB?
CHP?MNCA;NIL
− 2LCH?JL?AH;H=SN?MN
C@;JJFC=;<F?
• MM?MM"M
• >GCHCMN?LNB?".!);H> !C@@KO?MNCIHH;CL?M


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• /;H>IGFS;MMCAHMO<D?=NNINL?;NG?HN<SOMCHANB?&R/0;H>I<N;CH>IM?I@MNO>S>LOA
•  IFF?=NM=L??HCHA>C;LS

	
 .7383<=/;381%=>.B;>1
,H!;S
;>GCHCMN?LMNO>S>LOA=;JMOF?MIL;FFSQCNB;NF?;MNITI@Q;N?L=;JMOF?M;L?NI<?
MQ;FFIQ?>
HIN=B?Q?>

	
 0=/;.7383<=/;381%=>.B;>1"9<=.9</
• ,<M?LP?MO<D?=NCHNB?=FCHC=@ILWGCHON?M
• MM?MMPCN;FMCAHG?;MOL?G?HNMC?
<FII>JL?MMOL?
JOFM?
L?MJCL;NILSL;N?
;H>IL;F
<I>SN?GJ?L;NOL?;JJLIRCG;N?FSGCHON?M;@N?L>IMCHA
• MM?MM"M
• -LIPC>?MO<D?=NQCNBMNIIF=IFF?=NCIHECNM
• -LIPC>?MJ?=C@C=CHMNLO=NCIHMIHG;ECHA?HNLC?MCHNINB?>C;LLB?;FIA>?PC=?>;CFS
• -LIPC>? >C;LS
 NB?LGIG?N?L ;H> MJ?=C@C= CHMNLO=NCIHM IH =IGJF?NCHA NB? 0IFC=CN?>
>P?LM?"P?HN!C;LSIH!;SM
• "HMOL?MO<D?=N=IHNCHO?MNI@;MN@IL;NIN;FI@GCHON?M;@N?L>IMCHAJIMN>IM?
• #ILMO<D?=NMQBI>IHIN;LL;HA?CH=FCHC=PCMCNMIH!;SM;H>
>CMJ?HM?;>;S
MOJJFSI@MNO>S>LOA;==IL>CHANINL?;NG?HN;MMCAHG?HN;NL;H>IGCT;NCIHNIMO<D?=NM
QCNB CHMNLO=NCIHM @IL JLIJ?L MNIL;A? ;H> BIG? ;>GCHCMNL;NCIH IH !;S ;H> !;S
/?F?;M?MO<D?=N@LIGNB?=FCHC=OJIH;ONBILCT;NCIH<SNB?CHP?MNCA;NIL
• &HP?MNCA;NILMMBIOF>G;H;A?MO<D?=NM[?RJ?=N;NCIHM
NB?SG;SB;P?>C;LLB?;?;LFSIH
;@N?LL?=?CPCHA>LOACHNB?MNO>S

	
6383-(3<3=9;"298/+66+B
LL;HA?;HCH=FCHC=PCMCNILJBIH?=;FFNI
•  IH@CLG;>GCHCMNL;NCIHI@H>>IM?I@MNO>S>LOA<?@IL?<L?;E@;MN
• &HKOCL?;<IONA?H?L;FB?;FNB
• -?L@ILG>C;LLB?;;MM?MMG?HN
− /?GCH>MO<D?=NMNB?SG;SB;P?>C;LLB?;?;LFSIH;@N?LL?=?CPCHA>LOACHNB?MNO>S
− /?GCH>MO<D?=NMNI=IGJF?N?NB?>C;LLB?;FIA>?PC=?>;CFSM??&HP?MNCA;NIL0CN?
#CF?
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM

	
6383-(3<3=9;"298/+66+B
LL;HA?;HCH=FCHC=PCMCNILJBIH?=;FFNI


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

•  IH@CLG;>GCHCMNL;NCIHI@L>>IM?I@MNO>S>LOA<?@IL?<L?;E@;MN
• &HKOCL?;<IONA?H?L;FB?;FNB
• -?L@ILG>C;LLB?;;MM?MMG?HN
− /?GCH>MO<D?=NMNB?SG;SB;P?>C;LLB?;?;LFSIH;@N?LL?=?CPCHA>LOACHNB?MNO>S
− /?GCH>MO<D?=NMNI=IGJF?N?NB?>C;LLB?;FIAM??&HP?MNCA;NIL0CN?#CF?
− /?GCH>MO<D?=NMNI=IGJF?N?NB?0IFC=CN?>>P?LM?"P?HN!C;LS@IL!;SM
− /?GCH>MO<D?=NNIG?;MOL?IL;F<I>SN?GJ?L;NOL?IH!;SM;NNB?M;G?NCG?
?;=B>;S;H>L?=IL>IHNB?0IFC=CN?>>P?LM?"P?HN!C;LS
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• /?GCH>MO<D?=NNI<LCHANB?CL4??EMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILSILG;E?;LL;HA?G?HNM@IL;
=IOLC?L@IL>?FCP?LSNINB?MNO>SMCN?

	
"298/+66(3<3=)//5

 IHN;=NMO<D?=N<SJBIH?;N4??EV>;SM
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M
− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL? =IHM?=ONCP? >;SM
 I<N;CH MNIIF M;GJF?  IGJF?N? /?=OLL?H=? 3CMCN
;MM?MMG?HNMM??0?=NCIH
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• >GCHCMN?LNB? !C@@KO?MNCIHH;CL?
• /?GCH>MO<D?=NNI<LCHANB?CL4??EMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILSILG;E?;LL;HA?G?HNM@IL;
=IOLC?L@IL>?FCP?LSNINB?MNO>SMCN?/?GCH>MO<D?=NNI=IGJF?N?NB?0IFC=CN?>"
!C;LS@IL!;S!;S;H><LCHANINB?CL4??E3CMCNC@CH=FCHC=ILJLIPC>?NI
B?;FNB=;L?JLIPC>?L;NN?H>CHANB?BIG?PCMCN

	
6383-9;97/(3<3="298/-+66)//5
LL;HA?@IL;BIG?PCMCNIL;HCH=FCHC=PCMCN;N4??EV>;SMNI
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL? =IHM?=ONCP? >;SM
 I<N;CH MNIIF M;GJF?  IGJF?N? /?=OLL?H=? 3CMCN
;MM?MMG?HNMM??0?=NCIH
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
•  IFF?=N;<FII>M;GJF?;H>;MNIIFM;GJF?
•  IFF?=NNB?0IFC=CN?>>P?LM?"P?HN!C;LS

	
"298/+66(3<3=<)//5<
 IHN;=NMO<D?=N<SJBIH?;N4??EMV>;SM
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M
− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL?=IHM?=ONCP?>;SM
;LL;HA?;/?=OLL?H=?3CMCNM??0?=NCIH
− >PCM?MO<D?=NNI=IHNCHO?>C;LLB?;FIA
;H>=IFF?=NMNIIFM;GJF?@ILNB?/?=OLL?H=?
3CMCN
− >PCM?MO<D?=NNIHINCHCNC;N?;HNC<CINC=NL?;NG?HN@IL !&OHNCF;>PCM?>NI>IMI<S
NB?MNO>SCHP?MNCA;NIL
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• /?GCH>MO<D?=NNI<LCHANB?CL4??EMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILS

	
8.90003-+-B"/;39.6383-(3<3=)//5
0O<D?=NMQCFF<?M??HCHNB?=FCHC=;NNB?MNO>SMCN?ILCH;BIG?PCMCN;N4??EV>;SM0O<D?=NM
QCNB ; =IH@CLG?>  !& L?=OLL?H=? JLCIL NI 4??E  G;S ?HLIFF CH NB? 0"/"0 IJ?HF;<?F
?RN?HMCIHMNO>S
C@?FCAC<F?
;H>;L?HINL?KOCL?>NIB;P?=IGJF?N?>NB?CL4??EPCMCN0O<D?=NM
QBI>IHIN=BIIM?NI?HLIFFCHNB?0"/"0MNO>SILMO<D?=NMQCNB;=IH@CLG?>L?=OLL?H=?;@N?L
4??EMBIOF>=IHNCHO?NI<?@IFFIQ?>@ILM;@?NS;MM?MMG?HNMNBLIOAB4??E
• ,<N;CHMNIIFM;GJF?@LIGMO<D?=N[M4??E;NBIG?=IFF?=NCIH;H>JLI=?MM
MNIL?
;H>
MBCJJ?L);<IL;NILS*;HO;F
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL? =IHM?=ONCP? >;SM
 I<N;CH MNIIF M;GJF?  IGJF?N? /?=OLL?H=? 3CMCN
;MM?MMG?HNMM??0?=NCIH
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• -?L@ILG;@I=OM?>BCMNILS;H>JBSMC=;F?R;G
•  IFF?=N<FII>;H>OLCH?M;GJF?M@ILNB?@IFFIQCHAF;<IL;NILSN?MNM
− FII>=B?GCMNLS
− %?G;NIFIAS
− 0?LOG@IL@ONOL?<CIG?>C=;FL?M?;L=B
− 2LCH?JL?AH;H=SN?MN
C@;JJFC=;<F?
• >GCHCMN?LMO<D?=NNI=IGJF?N?NB?".!);H> !C@@KO?MNCIHH;CL?M
• -LIPC>?MO<D?=NQCNBMNIIF=IFF?=NCIHECNM;MH?=?MM;LS
• &@MO<D?=NB;MB;>;=IH@CLG?>L?=OLL?H=?;H>B;M;AL??>NI?HLIFFCH0"/"0

CHMNLO=NMO<D?=NNI=IHNCHO?=IGJF?NCHA>C;LLB?;FIA>;CFSIH0"/"0>?PC=?OHNCF
NB?SL;H>IGCT?IH!;SI@0"/"0

	
9669@>:"/;39.

	

"298/+66(3<3=<?/;B)//5<
 IHN;=NMO<D?=N<SJBIH?;N4??EM
;H>V>;SMNI
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M
− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL?=IHM?=ONCP?>;SM
;LL;HA?;/?=OLL?H=?3CMCNM??0?=NCIH
− >PCM?MO<D?=NNI=IHNCHO?>C;LLB?;FIA
;H>=IFF?=NMNIIFM;GJF?@ILNB?/?=OLL?H=?
3CMCN
− >PCM?MO<D?=NHINNICHCNC;N?;HNC<CINC=NL?;NG?HN@IL !&OHNCF;>PCM?>NI>IMI<S
NB?MNO>SCHP?MNCA;NIL
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• /?GCH>MO<D?=NNI<LCHANB?CL4??EMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILSILG;E?;LL;HA?G?HNM@IL;
=IOLC?L@IL>?FCP?LSNINB?MNO>SMCN?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@


	
"298/+66(3<3=%=>.B97:6/=398)//5
 IHN;=NMO<D?=N<SJBIH?;N4??EV>;SMNI
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&
I<N;CHCH@ILG;NCIHL?A;L>CHANB?>;S

@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA>C;LLB?;F?JCMI>?M
− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL? =IHM?=ONCP? >;SM
 I<N;CH MNIIF M;GJF?  IGJF?N? /?=OLL?H=? 3CMCN
;MM?MMG?HNMM??0?=NCIH
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• &HMNLO=NMO<D?=NNI=IGJF?N?NB?".!)KO?MNCIHH;CL?
• /?GCH>MO<D?=NNI<LCHANB?CL4??EMNIIFM;GJF?=IFF?=N?>;NBIG?NINB?MNO>SMCN?
NI<?JLI=?MM?>@ILMBCJG?HNNINB?=?HNL;FF;<IL;NILSILG;E?;LL;HA?G?HNM@IL;
=IOLC?L@IL>?FCP?LSNINB?MNO>SMCN?

	
$/->;;/8-/+8.+;6B&/;738+=398&(3<3=<
HSMO<D?=NMOMJ?=N?>I@B;PCHA;H?JCMI>?I@ !&J?LJLINI=IF>?@CHCNCIHWOH@ILG?>MNIIFM
J?L>;SIP?L=IHM?=ONCP?>;SMQCFF<?;ME?>NI=IHN;=NNB?CHP?MNCA;NIL;H>L?NOLHNINB?=FCHC=
ILB;P?;BIG?PCMCN@IL;MNIIFN?MN;H>?P;FO;NCIH@ILL?=OLL?H=?I@ !&>>CNCIH;FFS

;FFMO<D?=NMQCFF<?M??HCHNB?=FCHC=ILB;P?;BIG?PCMCNC@NB?MO<D?=NQCNB>L;QM?;LFS@LIGNB?
MNO>S
QB?H?P?LJIMMC<F?
0O<D?=NMQCNB;=IH@CLG?> !&L?=OLL?H=?JLCILNI4??EG;S?HLIFFCHNB?0"/"0IJ?H
F;<?F?RN?HMCIHMNO>S
C@?FCAC<F?MM?MMG?HNMJ?L@ILG?>>OLCHANB?/?=OLL?H=?PCMCNG;S<?OM?>
@ILNB?0=L??HCHAF;<M@IL0"/"0
-?L@ILGNB?@IFFIQCHA;MM?MMG?HNM;H>JLI=?>OL?M
• ,<N;CHMNIIFM;GJF?@LIGMO<D?=N[M;NBIG?=IFF?=NCIH;H>JLI=?MM
MNIL?
;H>MBCJ
M;GJF?J?L);<IL;NILS*;HO;F
• -?L@ILG>C;LLB?;;MM?MMG?HN
− &@MO<D?=NB;M;MOMJ?=N?>?JCMI>?I@ !&NB;NB;MHIN;FL?;>S<??HL?JILN?>
I<N;CH
CH@ILG;NCIHL?A;L>CHANB?>;S
@L?KO?H=S
;H>KO;FCNSI@<IQ?FGIP?G?HNM>OLCHA
>C;LLB?;?JCMI>?M
− &@MO<D?=NL?JILNM?JCMI>?MI@>C;LLB?;WOH@ILG?>MNIIFMJ?L>;SF;MNCHAIL
GIL?=IHM?=ONCP?>;SM
I<N;CHMNIIFM;GJF?0BCJMNIIFNINB?=?HNL;FF;<IL;NILS@IL
MNIIFN?MNCHAM??);<IL;NILS*;HO;F1B?MO<D?=NMBIOF>HINCHCNC;N?
;HNC<CINC=NL?;NG?HN@ILMOMJ?=N?> !&JLCILNIJLIPC>CHA;MNIIFM;GJF?@ILNB?
=?HNL;F F;<IL;NILS MNIIF N?MNCHA 1I CH@ILG MO<D?=N =;L?
 ;  N?MN IH
OH@ILG?>MNIIFG;S<?J?L@ILG?>FI=;FFS;NNB?MNO>SMCN?M??);<IL;NILS*;HO;F


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

− &@NB?N?MNIH;MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;SJ?L@ILG?><S
NB? ?HNL;F);<IL;NILSCMJIMCNCP?;H>NB?CHP?MNCA;NIL>?N?LGCH?MNB;N;HNC<CINC=
NL?;NG?HN CM ;JJLIJLC;N? J?L JLINI=IF AOC>?FCH?M M?? 0?=NCIH
 JL?M=LC<?
MN;H>;L>I@=;L?;HNC<CINC=L?ACG?HNI=IHNLIF !&
− #IL NBCM MNO>S
 ;H> NI KO;FC@S @IL ?HNLS CHNI 0"/"0
  !& 0,  ;HNC<CINC=
NB?L;JS;L?>?@CH?>;MNI>;SMI@NL?;NG?HNQCNBP;H=IGS=CH8GA.&!9
IL@C>;RIGC=CH8GA&!9
− 0?H>MNIIFM;GJF?NI=?HNL;FF;<IL;NILSCMIF;NCIH;H>LC<INSJCHA
− >PCM?MO<D?=NNI=IHNCHO?>C;LLB?;FIAOJOHNCFNB?>;SI@CHCNC;NCIHI@;HNC<CINC=
NL?;NG?HN@ILNB?CL !&
• MM?MM"M
• /?PC?Q=IH=IGCN;HNG?>C=;NCIHM
• -?L@ILG;@I=OM?>BCMNILS;H>JBSMC=;F?R;G
•  IFF?=N<FII>;H>OLCH?M;GJF?M@ILNB?@IFFIQCHAF;<IL;NILSN?MNM
− FII>=B?GCMNLS
− %?G;NIFIAS
− 0?LOG@IL@ONOL?<CIG?>C=;FL?M?;L=B
− 2LCH?JL?AH;H=SN?MN
C@;JJFC=;<F?
• >GCHCMN?LMO<D?=NNI=IGJF?N?NB?".!);H> !C@@KO?MNCIHH;CL?M+IN?NB?
 !C@@KO?MNCIHH;CL?MBIOF>IHFS<?=IGJF?N?>@IL;H"1IL/?=OLL?H=?3CMCNJLCIL
NI4??E
• &@MO<D?=N>C>HINB;P?;L?=OLL?H=?JLCILNIQ??EILC@MO<D?=NB;MB;>;L?=OLL?H=?
;H>B;M=BIM?HHINNI?HLIFFCH0"/"0
NB?MO<D?=NMBIOF>=IHNCHO?NI=IGJF?N?
NB?>C;LLB?;FIA
• &@MO<D?=N>C>B;P?;L?=OLL?H=?JLCILNI4??E;H>B;M=BIM?HNI?HLIFFCH0"/"0

NBCMPCMCNQCFF<?OM?>;M0=L??HCHA3CMCN@IL0"/"0>>CNCIH;FFS
J?L@ILG
NB?@IFFIQCHA;MM?MMG?HNM
− /IONCH?OLCH?>CJMNC=E
− 0NO>S>LOA;==IOHN;<CFCNS
+IN?0NO>S>LOAG;S<?L?NOLH?>NINB?MNO>SMCN?<S=IOLC?LC@NB?MO<D?=NCM
OH;<F?NI<?;MM?MM?>CHNB?=FCHC=


%%%% &!%&* ($%( &$"!$& 
FF "M
 0"M"0&M
 ;H> =IH=IGCN;HN G?>C=;NCIHM QCFF <? =IFF?=N?> @LIG NB? NCG? I@
L;H>IGCT;NCIH OJ NI 4??E  #LIG 4??E  OJ NI 4??E 
 ;FF 0"M"0&M ;H>


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

0""0&L?F;N?>>;N;
;H>;HS;HNC<CINC=G?>C=;NCIH;H>CNM=ILL?MJIH>CHACH>C=;NCIHQCFF<?
=IFF?=N?>
1B?CHP?MNCA;NILCML?MJIHMC<F?@IL
• &H@ILGCHA NB? MJIHMIL CH NB? ?P?HN NB;N ; MO<D?=N IL ; MO<D?=N[M J;LNH?L <?=IG?M
JL?AH;HN >OLCHA NB? MNO>S  Y-L?AH;H=S /?JILN #ILGZ QCFF <? A?H?L;N?> ;H> NB?
JL?AH;H=SQCFF<?=;JNOL?>CHNB?M;@?NS>;N;<;M?;H>QCFF<?@IFFIQ?>NBLIOABNINB?
ION=IG?
• &HMNLO=NCHA MO<D?=NM CH NB? M?F@L?JILNCHA I@ M?F?=N?> "M CH=FO>CHA >C;LLB?; ;H>
;<>IGCH;F>CM=IG@ILN
• "P;FO;NCHAMO<D?=NM;@?NSCH=FO>CHA;MM?MMG?HNI@"M@ILM?LCIOMH?MM
M?P?LCNS
;H>
=;OM;FCNS
• &H@ILGCHANB?&HMNCNONCIH;F/?PC?QI;L>&/&H>?J?H>?HN"NBC=M IGGCNN??&" 
I@"M;ML?KOCL?>;H>0"M;MJ?L&/&" AOC>?FCH?M
#ILNB?JOLJIM?I@NBCMMNO>S
;H"CM>?@CH?>;M;HSOHNIQ;L>G?>C=;FI==OLL?H=?CH;MO<D?=N
QBIQ;M;>GCHCMN?L?>MNO>S>LOA
L?A;L>F?MMI@CNM=;OM;FL?F;NCIHMBCJNINB?MNO>S>LOAH"
=;H
NB?L?@IL?
<?;HSOH@;PIL;<F?;H>OHCHN?H>?>MCAHCH=FO>CHA;H;<HILG;FF;<IL;NILS@CH>CHA

MSGJNIG
IL>CM?;M?N?GJIL;FFS;MMI=C;N?>QCNBNB?OM?I@NB?MNO>S>LOA
QB?NB?LILHINCNCM
=IHMC>?L?>L?F;N?>NINB?MNO>S>LOA
• 0IFC=CN?>>P?LM?"P?HNMQCFF<?=;JNOL?>IH;>C;LS=;L>@IL!;SMNBLIOAB!;S
;H> ?HN?L?> CHNI NB?  /#  #IL NBCM MNO>S MIFC=CN?> >P?LM? "P?HNM CH=FO>? $;M IL
@F;NOF?H=?
 <>IGCH;F >CMN?HNCIH IL <FI;NCHA
 <>IGCH;F J;CH IL =L;GJCHA
 +;OM?;

HIL?RC;)IMMI@;JJ?NCN?
3IGCNCHA
#;NCAO?
 BCFFMIL0BCP?LCHA
;H> IHMNCJ;NCIH
>>CNCIH;FFS
>C;LLB?;QCFF<?=IFF?=N?>OMCHA;>;CFS>C;LLB?;FIA#ILMIFC=CN?>"MIH
!;SM
=LCN?LC;@IL>C;LLB?;M?P?LCNSQCFF<?;M@IFFIQM
• GCF>OH@ILG?><IQ?FGIP?G?HNMJ?L>;S
• GI>?L;N?OH@ILG?><IQ?FGIP?G?HNMJ?L>;S
• M?P?L?WOH@ILG?><IQ?FGIP?G?HNMJ?L>;S
• 0O<D?=NMQCFF;FMI<?;ME?>NIG?;MOL?<I>SN?GJ?L;NOL?IH!;SM
H0"CM;HS"L?A;L>F?MMI@=;OM;FCNSNB;N
• /?MOFNMCH>?;NB
• &MFC@?NBL?;N?HCHA)C@?NBL?;N?HCHAG?;HMNB;NNB?MO<D?=NQ;M;NCGG?>C;N?LCMEI@
>?;NB @LIG NB? ;>P?LM? ?P?HN ;M CN I==OLL?> 1BCM >I?M HIN CH=FO>? ;H ?P?HN NB;N

BSJINB?NC=;FFSB;>CNI==OLL?>CH;GIL?M?P?L?@ILG
CNGCABNB;P?=;OM?>>?;NB
• /?KOCL?MCHJ;NC?HNBIMJCN;FCT;NCIHILJLIFIHA;NCIHI@?RCMNCHABIMJCN;FCT;NCIHBIMJCN;F
;>GCMMCIHM;H>ILMOLAC=;FIJ?L;NCIHMM=B?>OF?>NII==OL>OLCHANB?MNO>SJ?LCI>
<ON
JF;HH?><?@IL?MNO>S?HNLS;L?HIN=IHMC>?L?>"MC@NB?CFFH?MMIL>CM?;M??RCMN?>
<?@IL?NB?MO<D?=NQ;M?HLIFF?>CHNB?MNO>S
JLIPC>?>NB;NCN>C>HINQILM?HCH;HS
OH?RJ?=N?>G;HH?L>OLCHANB?MNO>S?A
MOLA?LSJ?L@ILG?>?;LFC?LNB;HJF;HH?>


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• /?MOFNM CH J?LMCMN?HN IL MCAHC@C=;HN >CM;<CFCNSCH=;J;=CNS !CM;<CFCNS CM >?@CH?> ;M ;
MO<MN;HNC;F>CMLOJNCIHI@;MO<D?=N[M;<CFCNSNI=IH>O=NHILG;FFC@?@OH=NCIHM
• &M;MMI=C;N?>QCNB;=IHA?HCN;F;HIG;FS<CLNB>?@?=N
• &M;HCGJILN;HNG?>C=;F?P?HNHCGJILN;HNG?>C=;F?P?HNCM;H?P?HNNB;NG;SHIN
L?MOFNCH>?;NB
<?FC@?NBL?;N?HCHA
ILL?KOCL?BIMJCN;FCT;NCIH<ONG;S<?=IHMC>?L?>;H
0"QB?H
<;M?>OJIH;JJLIJLC;N?G?>C=;FDO>AG?HN
G;SD?IJ;L>CT?NB?MO<D?=N;H>
G;SL?KOCL?G?>C=;FILMOLAC=;FCHN?LP?HNCIHNIJL?P?HNIH?I@NB?ION=IG?MFCMN?>CH
NB? >?@CHCNCIH I@ ;H 0" "R;GJF?M I@ MO=B G?>C=;F ?P?HNM CH=FO>? ;FF?LAC=
<LIH=BIMJ;MGL?KOCLCHACHN?HMCP?NL?;NG?HNCH;H?G?LA?H=SLIIGIL;NBIG?
<FII>
>SM=L;MC;M
 =IHPOFMCIHM NB;N >I HIN L?MOFN CH CHJ;NC?HN BIMJCN;FCT;NCIH
 ;H> NB?
>?P?FIJG?HNI@>LOA>?J?H>?H=SIL>LOA;<OM?
H;>P?LM??P?HNI@MJ?=C;FCHN?L?MN"0&M?LCIOMILHIHM?LCIOMCMIH?I@M=C?HNC@C=;H>G?>C=;F
=IH=?LH MJ?=C@C= NI NB? JLI>O=N IL JLIAL;G
 @IL QBC=B IHAICHA GIHCNILCHA ;H> L;JC>
=IGGOHC=;NCIH<SNB?CHP?MNCA;NILNINB?MJIHMILCM;JJLIJLC;N?
&HNBCMJLINI=IF
;HCHP;MCP?CH@?=NCIH?A
<;=N?L?GC;
;<M=?MM
G?HCHACNCMCM>?MCAH;N?>;M;H
"0&
;H>;MMO=B
QCFF<?L?JILN?>;H>@IFFIQ?>CHNB?M;G?G;HH?L;M;H0">OLCHANB?=IOLM?
I@NB?MNO>S
FF"M
CH=FO>CHA0"M;H>"0&M
QCFF<?AL;>?>@ILM?P?LCNS<SOMCHANB?=IGGIHN?LGCHIFIAS
=LCN?LC;@IL;>P?LM??P?HNM IGGIH1?LGCHIFIAS LCN?LC;@IL>P?LM?"P?HNMP 1 "
-O<FCMB !;N? *;S 
 
 QCNB NB? ?R=?JNCIH I@ >C;LLB?;  LCN?LC; @IL >C;LLB?; M?P?LCNS CM
JLIPC>?>;<IP?&HA?H?L;F
NB?M?P?LCNSI@"M=;H<?;MM?MM?>OMCHA@IFFIQCHAAOC>?FCH?M
%/?/;3=B /<-;3:=398

$L;>?*CF>;MSGJNIG;NC=ILGCF>MSGJNIGM=FCHC=;FIL>C;AHIMNC=I<M?LP;NCIHMIHFS
CHN?LP?HNCIHHINCH>C=;N?>
$L;>?*I>?L;N?GCHCG;F
FI=;FILHIHCHP;MCP?CHN?LP?HNCIHCH>C=;N?>FCGCNCHA;A?;JJLIJLC;N?
CHMNLOG?HN;F;=NCPCNC?MI@>;CFSFCPCHA!)
$L;>?0?P?L?ILG?>C=;FFSMCAHC@C=;HN<ONHINCGG?>C;N?FSFC@?NBL?;N?HCHABIMJCN;FCT;NCIHIL
JLIFIHA;NCIHI@BIMJCN;FCT;NCIHCH>C=;N?>>CM;<FCHAFCGCNCHAM?F@=;L?;=NCPCNC?MI@>;CFSFCPCHA
!)
&HMNLOG?HN;F !) L?@?L NI JL?J;LCHA G?;FM
 MBIJJCHA @IL ALI=?LC?M IL =FINB?M
 OMCHA NB?
N?F?JBIH?
 G;H;ACHA GIH?S
 ?N= 0?F@=;L? !) L?@?L NI <;NBCHA
 >L?MMCHA ;H> OH>L?MMCHA

@??>CHAM?F@
OMCHANB?NICF?N
N;ECHAG?>C=;NCIHM
;H>HIN<?>LC>>?H
 B;HA?MCHNB?M?P?LCNSI@;H"QCFF<?>I=OG?HN?>
;H>>I=OG?HN;NCIHQCFFCH=FO>?;MM?MMG?HN
I@NB?>OL;NCIHI@NB??P?HN;N?;=BF?P?FI@CHN?HMCNS>P?LM??P?HNM=B;L;=N?LCT?>;MCHN?LGCNN?HN
QCFF<?>I=OG?HN?><;M?>IHNB?M?P?LCNS
IHM?N
;H>>OL;NCIHI@?;=B
?JCMI>?
H;<HILG;FF;<IL;NILSN?MN@CH>CHANB;NG??NM;HSI@NB?=LCN?LC;<?FIQQCFF<?=IHMC>?L?>;H"
• &M;MMI=C;N?>QCNB;==IGJ;HSCHAMSGJNIGM


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• /?KOCL?M;>>CNCIH;F>C;AHIMNC=N?MNCHAILG?>C=;FMOLAC=;FCHN?LP?HNCIH
• )?;>MNI;=IH=IGCN;HN>LOANL?;NG?HNIL;HS=B;HA?CH;=IH=IGCN;HNG?>C=;NCIHIL
NB?L;JS
• &M=IHMC>?L?>;H"<SNB?CHP?MNCA;NIL
);<IL;NILSL?MOFNMNB;N@;FFIONMC>?NB?L?@?L?H=?L;HA?;H>>IHING??NIH?I@NB?=LCN?LC;;<IP?
QCFFHIN<?L?JILN?>;M"M/?J?;NCHA;N?MN<?=;OM?I@;H;<HILG;FL?MOFN
CHNB?;<M?H=?I@NB?
;<IP?=IH>CNCIHM
>I?MHIN=IHMNCNON?;H"HS;<HILG;FN?MNL?MOFNNB;NCM>?N?LGCH?>NI<?;H
?LLILQCFFHIN<?L?JILN?>;M;H"
#IL;FF"M
CH=FO>CHA0"M
NB?CHP?MNCA;NILQCFFL?JILNIHNB?L?F;NCIHMBCJI@NB?"NINB?MNO>S
>LOA<SOMCHANB?@IFFIQCHA>?@CHCNCIHM
• '8;/6+=/. 1B?L? CM FCNNF? IL HI =B;H=? NB;N NB? MNO>S >LOA =;OM?> NB? " INB?L
=IH>CNCIHM
 CH=FO>CHA =IH=OLL?HN CFFH?MM?M
 JLIAL?MMCIH IL ?RJL?MMCIH I@ NB? >CM?;M?
MN;N?
IL;L?;=NCIHNI;=IH=IGCN;HNG?>C=;NCIH<?MN?RJF;CHNB??P?HN
• $/6+=/. IL "9<<3,6B $/6+=/. 1B? ;MMI=C;NCIH I@ NB? " QCNB NB? MNO>S >LOA CM
OHEHIQHBIQ?P?L
NB?"CMHIN=F?;LFS>O?NI;HINB?L=IH>CNCIH
IL;L?;MIH;<F?
N?GJIL;F;MMI=C;NCIH?RCMNM<?NQ??HNB?";H>NL?;NG?HN;>GCHCMNL;NCIH;H>
<;M?>IH
NB?CHP?MNCA;NIL[M=FCHC=;F?RJ?LC?H=?
NB?;MMI=C;NCIHI@NB?"QCNBNB?MNO>S>LOA
M??GMFCE?FS
>P?LM??P?HNM
CH=FO>CHAFI=;F;H>MSMN?GC=L?;=NCIHMHIN=IHMC>?L?>G?>C=;FFSM?LCIOM
QCFF<?
L?=IL>?> &H@ILG;NCIH NI <? =IFF?=N?> CH=FO>?M ?P?HN >?M=LCJNCIH
 NCG? I@ IHM?N
 CHP?MNCA;NIL
;MM?MMG?HNI@M?P?LCNS
L?F;NCIHMBCJNIMNO>S>LOA
>;N?I@L?MIFONCIHI@NB??P?HN
M?LCIOMH?MM
;H>
ION=IG?>>CNCIH;FFS
M?LCIOM=LCN?LC;QCFF<?=IFF?=N?>@IL;FF0"M
HSG?>C=;F=IH>CNCIHNB;NCMJL?M?HN;NNB?NCG?NB;NNB?MO<D?=NCMM=L??H?>QCFF<?=IHMC>?L?>;M
;<;M?FCH?=IH>CNCIH;H>HIN<?L?JILN?>;M;H"%IQ?P?L
C@CNQILM?HM;N;HSNCG?>OLCHANB?
MNO>S
CNMBIOF><?L?=IL>?>;M;H"
3+;;2/+
4CNBL?A;L>MNI?P?HNMI@>C;LLB?;
>C;LLB?;NB;NG??NMNB?JLINI=IF>?@CHCNCIHI@ !&L?=OLL?H=?
WOH@ILG?>MNIIFMJ?L>;SIP?LILGIL?=IHM?=ONCP?>;SM
;JIMCNCP?N?MNIH;MNIIF
M;GJF?>?N?LGCH?><S;NIRCH;MM;S
;H>;MM?MMG?HN<SNB?CHP?MNCA;NILNB;NNL?;NG?HNCML?KOCL?>
MBIOF>+,1<??HN?L?>;M;H""P?HNMI@>C;LLB?;NB;N;L?HIN;MMI=C;N?>QCNB !&L?=OLL?H=?
?A
>O?NI@II>JICMIHCHAIL@FO
MBIOF><?L?JILN?>;M;H"?A
!C;LLB?;8+IN !&L?F;N?>9
,NB?L MSGJNIGM ;MMI=C;N?> QCNB  !& L?=OLL?H=?
 ?A ;<>IGCH;F J;CH
 ;<>IGCH;F >CMN?HMCIH

MBIOF><?L?JILN?>;M;>P?LM??P?HNM
4B?H !&L?=OLL?H=?CM>??G?>M?LCIOM>O?NIBIMJCN;FCT;NCIH
 !&L?=OLL?H=?MBIOF><?CH=FO>?>
;M;H0"N?LG;H>L?=IL>?>;MNB?L?;MIH@ILBIMJCN;FCT;NCIHCHNB?%?;FNB ;L?2NCFCT;NCIH /#
J;A?
>>CNCIH;FFS
>C;LLB?;QCFF<?=IFF?=N?>OMCHA;>;CFS>C;LLB?;FIA#ILMIFC=CN?>"MIH!;SM

=LCN?LC;@IL>C;LLB?;M?P?LCNSQCFF<?;M@IFFIQM
• GCF>OH@ILG?><IQ?FGIP?G?HNMJ?L>;S


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• GI>?L;N?OH@ILG?><IQ?FGIP?G?HNMJ?L>;S
• M?P?L?WOH@ILG?><IQ?FGIP?G?HNMJ?L>;S




%/;39><.?/;</?/8=$/:9;=381
1B? MJIHMIL B;M L?KOCL?G?HNM @IL ?RJ?>CN?> L?JILNCHA I@ 0"M G??NCHA MJ?=C@C= =LCN?LC; NI
QILF>QC>?L?AOF;NILS;ONBILCNC?M1B?L?@IL?
NB?MJIHMILILMJIHMIL[M>?MCAH??GOMN<?HINC@C?>
CGG?>C;N?FSL?A;L>CHA;HS0"NB;NI==OLM;@N?L;>GCHCMNL;NCIHI@NB?MNO>S>LOA
FF0"MGOMN<?L?JILN?>NINB?MJIHMILILMJIHMIL[M>?MCAH??
QCNBCH
BIOLMI@EHIQF?>A?I@NB??P?HN;NNB?MNO>SMCN?/?@?LNINB?&HP?MNCA;NIL0CN?#CF?@IL>?N;CF?>
CHMNLO=NCIHM
1B? MNO>S MCN? QCFF NL;HMGCN ;H 0" L?JILN 0"/ NI NB? MJIHMIL IL MJIHMIL[M >?MCAH?? <S
@;=MCGCF? IL ?G;CF 1B? MNO>S MCN? QCFF <? JLIPC>?> QCNB 0"/ @ILGM QB?L?CH NB? @IFFIQCHA
CH@ILG;NCIHCML?KO?MN?>
• 0O<D?=NC>?HNC@C=;NCIH
CHP?MNCA;NILH;G?
;H>MNO>SMCN?HOG<?L
• 0"CH@ILG;NCIH?P?HNN?LG
IHM?N>;N?
M?P?LCNS
;H>=;OM;FL?F;NCIHMBCJNIMNO>S>LOA
• 1B?ION=IG?M;NNLC<ON;<F?NINB??P?HNC?M?LCIOM=LCN?LC;?A
>?;NB
FC@?NBL?;N?HCHA

CHJ;NC?HN BIMJCN;FCT;NCIH
 JLIFIHA;NCIH I@ ?RCMNCHA BIMJCN;FCT;NCIH
 ; =IHA?HCN;F
;HIG;FS
;J?LMCMN?HNILMCAHC@C=;HN>CM;<CFCNSILCH=;J;=CNS
ILINB?LCGJILN;HNG?>C=;F
?P?HN
• MOGG;LSI@L?F?P;HNN?MNL?MOFNM
J?LNCH?HNF;<IL;NILS>;N;
;H>;HSINB?LL?F?P;HN
G?>C=;FBCMNILS
• 1B?>;N?I@MNO>S>LOA;>GCHCMNL;NCIH
• 4B?NB?LILHINNB?MNO>S>LOAQ;M>CM=IHNCHO?>
• 0OJJF?G?HN;F CH@ILG;NCIH
 QBC=B G;S CH=FO>? NB? @IFFIQCHA BIMJCN;F L?=IL>M
F;<IL;NILSL?MOFNM
L;>CIFIASL?JILNM
JLIAL?MMHIN?M
;>GCMMCIH;H>?G?LA?H=SLIIG
HIN?M
BIF>CHA;H>I<M?LP;NCIHHIN?M
>CM=B;LA?MOGG;LC?M
;ONIJMSL?JILNM
;H>>?;NB
=?LNC@C=;N?M
&H;>>CNCIH
L?F?P;HN? /#J;A?MMBIOF><?;JJ?H>?>NI=IGGOHC=;N?L?F?P;HNMNO>S>LOA;H>
MO<D?=NION=IG?CH@ILG;NCIH
1B?0"/MBIOF><?@;R?>IL?G;CF?>QCNBCHBIOLMQCNB;MGO=BI@NB?;<IP?CH@ILG;NCIH;M
;P;CF;<F?;NNB?NCG?1B?@IFFIQCHAGCHCGOGCH@ILG;NCIHCML?KOCL?>@IL;HCHCNC;F0"L?JILN
MO<D?=N C>?HNC@C=;NCIH
 L?JILNCHA MIOL=? C?
 0CN? +;G? ;H> 0CN? +OG<?L
 ;H> ;H ?P?HN IL
ION=IG?0OJJF?G?HN;FCH@ILG;NCIHG;S<?NL;HMGCNN?><SOMCHA;@IFFIQOJL?JILN;H>MBIOF>
HIN>?F;SNB?CHCNC;FL?JILN1B?MJIHMILG;S=IHN;=NNB?MNO>SMCN?NIMIFC=CN;>>CNCIH;FCH@ILG;NCIH
IL@IFFIQOJIHNB??P?HN
1B?CHP?MNCA;NILGOMNN;E?;FFNB?L;J?ONC=G?;MOL?MH?=?MM;LS@ILL?MIFONCIHI@NB?0"HS
G?>C=;NCIHMILJLI=?>OL?MH?=?MM;LS@ILNL?;NG?HNI@NB?0"GOMN<?L?=IL>?>CHNB?;JJLIJLC;N?
J;A?MI@NB?MO<D?=N[M? /#


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@



%&&%&&!%



%=>.B8.:938=<




";37+;B003-+-B8.:938=
• /?=OLL?H=?I@ !&CHMO<D?=NMQBIL?=?CP?0"/ILJF;=?<I;M>?N?LGCH?><S;
NIRCH ;MM;S OJ NI  Q??EM ;@N?L CHCNC;NCIH I@ NL?;NG?HN  L?=OLL?H=? CM >?@CH?> ;M
WOH@ILG?>MNIIFMJ?L>;S@IL=IHM?=ONCP?>;SM;H>NB?L?KOCL?G?HNNB;NJ;NC?HNM
GOMN=IHNCHO?NIB;P?>C;LLB?;OHNCF;HNC<CINC=NL?;NG?HNCMCHCNC;N?>
QCNB;JIMCNCP?
 >C@@C=CF?N?MNIH;MNIIFM;GJF?>?N?LGCH?><S;NIRCH;MM;S
;H>;MM?MMG?HN<SNB?
CHP?MNCA;NILNB;NNB?=FCHC=;F=IH>CNCIHI@NB?MO<D?=NQ;LL;HNM;HNC<CINC=NL?;NG?HN



%/-98.+;B003-+-B8.:938=<
• /?=OLL?H=? I@  !& ;M >?N?LGCH?> <S; - / ;FAILCNBG OJ NI  Q??EM CHCNC;NCIHI@
NL?;NG?HN
• 1CG?NIL?=OLL?H=?I@ !&@LIGCHCNC;NCIHI@NL?;NG?HN;M>?N?LGCH?><S;NIRCH;MM;S
• 1CG?NIL?=OLL?H=?I@ !&@LIGCHCNC;NCIHI@NL?;NG?HN;M>?N?LGCH?><S- /;FAILCNBG
• /?=OLL?H=?I@ !&
;M>?N?LGCH?><S;NIRCH;MM;S
OJNI
;H>Q??EM;@N?L
CHCNC;NCIHI@NL?;NG?HNCH?;=BNL?;NG?HNALIOJ
• /?=OLL?H=?I@ !&
;M>?N?LGCH?><S;- /;FAILCNBG
OJNI
;H>Q??EM;@N?L
CHCNC;NCIHI@NL?;NG?HNCH?;=BNL?;NG?HNALIOJ
• /?=OLL?H=?I@ !&OJNIQ??EM;@N?LCHCNC;NCIHI@NL?;NG?HNCH?;=B0"/>IHIL
FIN;H>CHNB?JF;=?<IALIOJ



A:69;+=9;B003-+-B8.:938=<
"RJFIL;NILS?@@C=;=S?H>JICHNM;L?NB?@IFFIQCHA
•  B;HA?CHNB?=IGJIMCNCIHI@NB?AONGC=LI<CIG?@LIG;M?FCH?OJNI


;H>
Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
•  B;HA?CHNB?@?=;FG?N;<IFIG?@LIG;M?FCH?OJNI

;H>Q??EM;@N?LCHCNC;NCIH
I@NL?;NG?HN
• &H=C>?H=?I@GILN;FCNS@LIG;FF=;OM?MOJNI
;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
• &H=C>?H=?I@BIMJCN;FCT;NCIHM@ILL?=OLL?HN !&OJNI;H>Q??EM;@N?LCHCNC;NCIHI@
NL?;NG?HN
• &H=C>?H=?I@;FFBIMJCN;FCT;NCIHMOJNI;H>Q??EM;@N?LCHCNC;NCIHI@NL?;NG?HN
• 1IN;FF?HANBI@MN;S>;SMI@BIMJCN;FCT;NCIH
CH=FO>CHA>;SMCHNB?CHN?HMCP?=;L?OHCN
OJNIQ??EM;@N?LNL?;NG?HNCHCNC;NCIH@ILMO<D?=NMBIMJCN;FCT?>
•  B;HA?M @LIG ;M?FCH? CH %?;FNB /?F;N?> .O;FCNS I@ )C@? %/.I) ;H> B?;FNB
ION=IG?M;M;MM?MM?><SNB?".!)@LIG!;SNBLIOAB4??EM;H>;H>


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

;MM?MM?><SNB? >C@@%/.I)@LIG!;SNI4??E;H>4??EIL;NNB?"1IL
/?=OLL?H=?3CMCNJLCILNI4??E;@N?LCHCNC;NCIHI@NL?;NG?HN



%+0/=B8.:938=<
0;@?NS?H>JICHNM;L?NB?@IFFIQCHA
• &H=C>?H=?I@"M
CH=FO>CHAMIFC=CN?>"M@LIG!;SM
• );<IL;NILS?P;FO;NCIHL?MOFNM
• 3CN;FMCAHG?;MOL?G?HNM
• -BSMC=;F?R;GCH;NCIH@CH>CHAM


8+6B<3<"9:>6+=398
1B?L?;L?@IOL;H;FSMCMJIJOF;NCIHM
• &HN?HNNI1L?;N&11H;FSMCM-IJOF;NCIHFFMO<D?=NMQBIQ?L?L;H>IGFS;MMCAH?>

CH=FO>CHANBIM?QBIQ?L?HIN?RJIM?>NI;HSMNO>S>LOA
;H>QCFF<?;H;FST?><;M?>
IHNB?NL?;NG?HNNIQBC=BNB?SQ?L?L;H>IGFS;MMCAH?>0O<D?=NML;H>IGCT?>OMCHA
@IL=?>L;H>IGCT;NCIHQCFF<?;H;FST?>;==IL>CHANINB?ILCACH;FNL?;NG?HN;LGNB?S
Q?L?L;H>IGCT?>NI;H>HINNB?IH?<;M?>IHNB?@IL=?>L;H>IGCT;NCIH;FAILCNBG1B?
JLCG;LS?@@C=;=SJIJOF;NCIHCMNB?&11-IJOF;NCIH
• *I>C@C?> &HN?HN NI 1L?;N H;FSMCM -IJOF;NCIH FF MO<D?=NM QBI Q?L? L;H>IGFS
;MMCAH?>;H>L?=?CP?>;HS;GIOHNI@MNO>S>LOA
QBIM? !&Q;M=FCHC=;FFS=IHNLIFF?>
<S ;HNC<CINC= NL?;NG?HN <?@IL? L?=?CPCHA MNO>S >LOA
 ;H> QBI B;P? ;N F?;MN  JIMN
<;M?FCH??P;FO;NCIH!;N;@LIGNB?G&11-IJOF;NCIHQCFF<?;H;FST?><;M?>IHNB?
NL?;NG?HNNIQBC=BNB?SQ?L?L;H>IGFS;MMCAH?>0O<D?=NML;H>IGCT?>OMCHA@IL=?>
L;H>IGCT;NCIH QCFF <? ;H;FST?> ;==IL>CHA NI NB? ILCACH;F NL?;NG?HN ;LG NB?S Q?L?
L;H>IGCT?>NI;H>HINNB?IH?<;M?>IHNB?@IL=?>L;H>IGCT;NCIH;FAILCNBG
• -?L-LINI=IF---IJOF;NCIH0O<D?=NM@LIGNB?G&11-IJOF;NCIHQBI>IHINB;P?;HS
G;DILJLINI=IF>?PC;NCIHM#IL=?>L;H>IGCT;NCIHM;L?=IHMC>?L?>NI<?G;DILJLINI=IF
>?PC;NCIHM;H>NB?L?@IL?
MO<D?=NMQBI;L?L;H>IGCT?>OMCHA@IL=?>L;H>IGCT;NCIHQCFF
<??R=FO>?>@LIG---IJOF;NCIH1B?---IJOF;NCIHQCFF<?>?N;CF?>CHNB?0-;H>
>?@CH?><?@IL?OH<FCH>CHAI@NB?>;N;
• 0;@?NS-IJOF;NCIH1B?0;@?NS-IJOF;NCIHQCFF=IHMCMNI@;FFL;H>IGFS;MMCAH?>MO<D?=NM
QBIL?=?CP?>;HS;GIOHNI@MNO>S>LOA0O<D?=NMQCFF<?;H;FST?>;==IL>CHANINB?
NL?;NG?HN NB?S ;=NO;FFS L?=?CP?>
 L;NB?L NB;H NB;N NI QBC=B NB?S Q?L? L;H>IGFS
;MMCAH?>&HNB?M;G?G;HH?L
MO<D?=NMQBI;L?L;H>IGCT?>OMCHA@IL=?>L;H>IGCT;NCIH
QCFF<?;H;FST?>;==IL>CHANINB?NL?;NG?HNNB?S;=NO;FFSL?=?CP?>FFM;@?NS;H;FSM?M
QCFF<?=IH>O=N?><;M?>IHNB?0;@?NS-IJOF;NCIH


/=/;738+=39890%+7:6/%3C/
1B?ILCACH;FJF;HH?>M;GJF?MCT?@ILNBCMMNO>SQ;MMO<D?=NMJ?LNL?;NG?HNALIOJ@IL;NIN;F
M;GJF?MCT?I@MO<D?=NM%IQ?P?L
>O?NINB?=IGJ?NCNCIH@ILMO<D?=NM<?=;OM?I@NB?
CH=L?;MCHA;==?JN;H=?I@@?=;FGC=LI<CIN;NL;HMJF;HNM#*1<SJBSMC=C;HM;M;NL?;NG?HNIJNCIH


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

CHNB?MNO>SQCFF<??HN?L?>CHNB?>;N;<;M?
=F?;H?>;H>FI=E?>JLCILNINB?OH<FCH>CHA+I=B;HA?M
NI ;HS FI=E?> >;N; CH NB? >;N;<;M? QCFF <? J?LGCNN?>
 OHF?MM >??G?> NI <? BCABFS Q;LL;HN?>
1B?L?@IL?
;FF?@@C=;=SL?MOFNM?P;FO;N?>OJNINB?4??ENCG?JICHNQCFF<?=IHMC>?L?>@CH;F
=IGJ;LCMIHI@NB?>;N;;NNB?NCG?I@NB?Q??EOH<FCH>CHA;H>;NNB??H>I@NB?MNO>SQCFF<?
J?L@ILG?>H;O>CNNL;CFI@;HS=B;HA?MG;>?NINB?FI=E?>>;N;QCFF<?;P;CF;<F?
?@IL?NB?Q??E?@@C=;=S>;N;CM>?=F;L?>=IGJF?N?;H>@CH;F
;MN;NCMNC=;F;H;FSMCMJF;H0-
QCFF<?CMMO?>;M;M?J;L;N?>I=OG?HN
JLIPC>CHA>?N;CF?>G?NBI>M@ILNB?;H;FSM?MIONFCH?><?FIQ
1B?Q??E=ONI@@CMOM?>CHIL>?LNIJL?M?LP?<FCH>CHAI@;FF?@@C=;=S;H>M;@?NS>;N;OJNI4??E

HS>?PC;NCIHM@LIGNB?JF;HH?>;H;FSM?MQCFF<?>?M=LC<?>;H>DOMNC@C?>CHNB?@CH;F=FCHC=;FMNO>S
L?JILN


/8/;+6%=+=3<=3-+698<3./;+=398<
&H@?L?HNC;F MN;NCMNC=;F ;H;FSM?M I@ NB? JLCG;LS ;H> M?=IH>;LS ?H>JICHNM QCFF <? =IH>O=N?> ;M
IONFCH?><?FIQ!?M=LCJNCP?MN;NCMNC=M
CH=FO>CHANB?HOG<?LM;H>J?L=?HN;A?M@IL>C=BINIGIOMIL
=;N?AILC=;F P;LC;<F?M
 ;H> NB? HOG<?LM
 G?;HM
 MN;H>;L> >?PC;NCIHM
 G?>C;HM
 GCHCGOGM
 ;H>
G;RCGOGM@IL=IHNCHOIOMP;LC;<F?MQCFF<?JLIPC>?>FF=IGJ;LCMIHMQCFF<?@IL0"/P?LMOM
JF;=?<I&H@?L?HNC;FN?MNM;H>=IH@C>?H=?CHN?LP;FM@IL?@@C=;=SL?MOFNMQCFF<?<;M?>IHG?NBI>M@IL
MNL;NC@C?>;H;FSMCM
QB?L?NB?MNL;NC@C=;NCIHP;LC;<F?M;L?;A?S?;LMWS?;LM;H>NSJ?I@
;HNC<CINC=NL?;NG?HN@ILNB?KO;FC@SCHA?JCMI>?P;H=IGS=CHPM@C>;RIGC=CH"RJFIL;NILS;H;FSM?M
G;S;FMI<?J?L@ILG?>)CMNCHAMI@CH>CPC>O;FMO<D?=N>;N;QCFF<?JLI>O=?>
>>CNCIH;F>?N;CFMI@NB?MN;NCMNC=;F;H;FSMCMQCFF<?;>>L?MM?>CH;=IGJL?B?HMCP?0-
@CH;FCT?>
JLCILNI>;N;<;M?FI=E;H>>;N;OH<FCH>CHA


%>,4/-="9:>6+=398<+8.+</638/2+;+-=/;3<=3-<
"HLIFFG?HN
 JLINI=IF >?PC;NCIHM
 ;H> >CM=IHNCHO;NCIHM @LIG NB? MNO>S QCFF <? MOGG;LCT?> <S
NL?;NG?HNALIOJ;H>MNL;NOG@ILNB?&11-IJOF;NCIH!?GIAL;JBC=M;A?
L;=?
?NBHC=CNS
M?R;H>
<;M?FCH?=B;L;=N?LCMNC=MQ?CABN
B?CABN
<I>SG;MMCH>?R*&
;H>HOG<?LI@JL?PCIOM !&
?JCMI>?MQCFF<?MOGG;LCT?><SNL?;NG?HNALIOJCHNB?&11
G&11
0;@?NS;H>---IJOF;NCIHM
>>CNCIH;FFS
NB?>?GIAL;JBS;H><;M?FCH?=B;L;=N?LCMNC=MQCFF;FMI<?JL?M?HN?><SMNL;NOG@IL
NB?&11;H>0;@?NSJIJOF;NCIHM


%=>.B;>1A:9<>;/
1B?HOG<?L;H>J?L=?HN;A?I@MO<D?=NM<SNL?;NG?HNALIOJ;H>MNL;NOGQCFF<?MOGG;LCT?>@IL
NB?NIN;FHOG<?LI@=;JMOF?MN;E?H<S;MO<D?=N1B?MOGG;LSQCFF<?JL?M?HN?>@ILNB?0;@?NS

&11
;H>G&11-IJOF;NCIHM


003-+-B8+6B<3<
#IL;FF?@@C=;=S;H;FSM?M
MO<D?=N>;N;QCFF<?;H;FST?>CHNB?ALIOJNIQBC=BNB?MO<D?=NQ;M
L;H>IGFS;MMCAH?>


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@




>6=3:63-3=B.4><=7/8=<
>DOMNG?HNM@ILGOFNCJF?N?MNCHAQCFF<?G;>?@ILN?MNCHANB?JLCG;LS?@@C=;=S?H>JICHN@IL%I
//W;H>%I//W

1IG;CHN;CH;HIP?L;FFMC>?>NSJ?&?LLILL;N?
NB?@CR?>M?KO?H=?N?MNCHAG?NBI>QCFF<?
OM?>1?MNCHAI@NB?BSJINB?M?MCHNB?&11JIJOF;NCIHQCFF<?IL>?L?>CHNB?@IFFIQCHAG;HH?L
• %//W
• %//W
1B?N?MNCHAJLI=?>OL?QCFFJLI=??>;M@IFFIQM
• % // W  QCFF <? N?MN?> ;N NB? MC>?>  ^F?P?F  &@ @IOH> NI <? MN;NCMNC=;FFS
MCAHC@C=;HN;NNBCM^F?P?F
NB?H%//WQCFF<?N?MN?>;NNB?MC>?>^F?P?F
• %IQ?P?L
C@NB?JLCG;LS?@@C=;=S?H>JICHN@;CFMNI?MN;<FCMBMOJ?LCILCNS
C?%//WCM
HIN MCAHC@C=;HN ;N NB? MC>?>  ^F?P?F
 NB?H N?MNCHA I@ NB? H?RN BSJINB?MCM CH NBCM
M?KO?H=?
%
QCFFHINJLI=??>;H>MN;NCMNC=;F=IH=FOMCIHM;<IONNBCMBSJINB?MCMQCFFHIN<?
G;>?
+IINB?L;>DOMNG?HNMQCFF<?G;>?@ILN?MNCHAI@;FFINB?L?H>JICHNMCHNB?MNO>S


";37+;B003-+-B8+6B<3<
1B?JLCG;LSG?;MOL?I@?@@C=;=SQCFF<?NB?L?F;NCP?LCME//I@ !&L?=OLL?H=?;M>?N?LGCH?><S
; NIRCH ;MM;S OJ NI 4??EM ;@N?L CHCNC;NCIH I@ NL?;NG?HN
 >?@CH?> ;M --
 QB?L? - CM NB?
JLIJILNCIHI@MO<D?=NMQCNB !&L?=OLL?H=?CHNB?0"/ALIOJ;H>-CMNB?JLIJILNCIHI@
MO<D?=NM QCNB  !& L?=OLL?H=? CH NB? -F;=?<I ALIOJ 1B? JLCG;LS ?@@C=;=S ;H;FSMCM QCFF <?
J?L@ILG?>OMCHANB? I=BL;H*;HN?F%;?HMT?F *%N?MNI@NB?//I@0"/NI-F;=?<I

MNL;NC@C?><S;A?S?;LMWS?;LM
;MQ?FF;M;HNC<CINC=L?ACG?H@ILNB?KO;FC@SCHA?JCMI>?
P;H=IGS=CH@C>;RIGC=CH/OF?M@ILCGJONCHA !&L?=OLL?H=?MN;NOM@ILMO<D?=NMQCNBGCMMCHA
>;N;;L?CHNB?0-
QBC=BCH=FO>?M;=IGJF?N?FCMNI@CGJON?>L?=OLL?H=?MN;NOM@ILMO<D?=NMQBI
B;P?;NF?;MNIH?=IGJIH?HNI@NB? !&L?=OLL?H=??H>JICHN=LCN?LC;GCMMCHA
1B? *%?MNCG;N?I@NB?=IGGIHL?F;NCP?LCME
MNL;NC@C?><S;A?;H><;M?FCH?NSJ?I@;HNC<CINC=M

QCFF<?L?JILN?>1B?=IH@C>?H=?CHN?LP;F &@ILNB?=IGGIH//QCFF<?I<N;CH?>OMCHANB?
$L??HF;H>;H>/I<CHMP;LC;H=??MNCG;N?@ILNB?H;NOL;FFIA;LCNBGI@NB?=IGGIH//


 ..3=398+68+6B</<90=2/";37+;B003-+-B8.:938=
0?HMCNCPCNS;H;FSM?MI@NB?JLCG;LS?@@C=;=SION=IG?CHNB?&11-IJOF;NCIHQCFF;FMI<?=IH>O=N?>
OMCHAMCGCF;LG?NBI>M>?M=LC<?>CHNB?JL?=?>CHAM?=NCIH;M@IFFIQM
• FF MO<D?=NM QBI ;L? FIMN NI @IFFIQOJ
 N?LGCH;N?> NB? MNO>S JL?G;NOL?FS
 IL >C?>
QCNBIONB;PCHA; !&L?=OLL?H=?<?@IL?4??EQCFF<?=IHMC>?L?>NIB;P?;@;PIL;<F?
ION=IG?CH<INBNL?;NG?HNALIOJM0O<D?=NMQBIGCMM;HS=IHN;=NQCNBNB?MNO>SMCN?
<?@IL? 4??E  JBIH? =;FFM IL 4??E  PCMCN <ON QBI >I HIN L?JILN  IL GIL?
=IHM?=ONCP?>;SMQCNBWOH@ILG?>MNIIFM;NNB?4??EPCMCNQCFF<?>?@CH?>;MB;PCHA
;@;PIL;<F?ION=IG?@ILNBCM;H;FSMCM


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

• 0O<D?=NMQBI;L?FIMNNI@IFFIQOJ
N?LGCH;N?>NB?MNO>SJL?G;NOL?FS
IL>C?>QCNBION
B;PCHA; !&L?=OLL?H=?<?@IL?4??E
ILQBIB;P?GCMMCHA>;N;CHNB?0"/
ALIOJQCFF<?=IHMC>?L?>NIB;P?;HOH@;PIL;<F?ION=IG?
QB?L?;MJF;=?<IMO<D?=NM
OH>?LNB?M?=IH>CNCIHMQCFF<?=IHMC>?L?>NIB;P?;@;PIL;<F?ION=IG?0O<D?=NMQBI
GCMM;HS=IHN;=NQCNBNB?MNO>SMCN?<?@IL?4??EJBIH?=;FFMIL4??EPCMCN<ON
QBI>IHINL?JILNILGIL?=IHM?=ONCP?>;SMQCNBWOH@ILG?>MNIIFM;NNB?4??E
PCMCNQCFF<?>?@CH?>;MB;PCHA;@;PIL;<F?ION=IG?@IL;FFMO<D?=NMNBCM;H;FSMCM
• 1B? JLCG;LS ?@@C=;=S ;H;FSMCM QCFF ;FMI <? J?L@ILG?> QCNBION ;>DOMNG?HN @IL
MNL;NC@C=;NCIH<S;A?;H>NSJ?I@;HNC<CINC=@ILNB?KO;FC@SCHA?JCMI>?
H;FSMCMI@NB?JLCG;LS?@@C=;=SION=IG?QCFF;FMI<?=IH>O=N?>CHNB?G&11;H>---IJOF;NCIHM
;M;>>CNCIH;FM?HMCNCPCNS;H;FSM?M
!C@@?L?H=?MCHNB?JLIJILNCIHMI@MO<D?=NMQCNB !&L?=OLL?H=?<?NQ??HNL?;NG?HNALIOJMQCFF<?
N?MN?> <S OMCHA NB?  *% N?MN
 MNL;NC@C?> <S ;A?  S?;LM
 W S?;LM ;H> NSJ? I@ <;M?FCH?
;HNC<CINC=MP;H=IGS=CHPM@C>;RIGC=CH+CH?NS@CP?J?L=?HN &MQCFF;FMI<?JLIPC>?>@IL
NB?>C@@?L?H=?<?NQ??HNB?NL?;NG?HNALIOJMCHNB?JLIJILNCIHI@MO<D?=NMQCNB; !&L?=OLL?H=?

;>DOMN?>@ILNB?;A?;H>NSJ?I@<;M?FCH?;HNC<CINC=MMNL;NC@C=;NCIH@;=NILMOMCHA *%Q?CABNMQCNB
G?NBI>M;M>?M=LC<?>CH(CG;H>4IH
0OMN;CH?>=FCHC=;FL?MJIHM?L;N?
NB?JLIJILNCIHI@MO<D?=NMQBIB;P?HINB;>;L?=OLL?H=?<S
;H>Q??EMI@0"/ALIOJ-;H>NB?JF;=?<IALIOJ-;H>CNM &
;MQ?FF;M
NB?JP;FO?;H>NB?=IH@C>?H=?CHN?LP;F;>DOMN?>@ILNB?;A?;H>NSJ?I@<;M?FCH?;HNC<CINC=M
MNL;NC@C=;NCIH@ILNB?>C@@?L?H=?<?NQ??HNB?M?NQIL;N?MQCFF<?JLIPC>?>+IN?NB;NNB?MOMN;CH?>
=FCHC=;FL?MJIHM?L;N?L?=OLL?H=?L;N?
NB?N?MN@ILNB?MOMN;CH?>=FCHC=;FL?MJIHM?CMNB?M;G?
N?MN;MNB?IH?@ILNB?L?=OLL?H=?L;N?>C@@?L?H=?


%/-98.+;B003-+-B8+6B</<


8+6B</<90%/-98.+;B8.:938=<
1CG?NIL?=OLL?H=?I@ !&QCFF<?MOGG;LCT?><SNL?;NG?HNALIOJ
;H>;A?;H>NSJ?I@<;M?FCH?
;HNC<CINC=M MNL;NOG @IL NB? &11 ;H> G&11 -IJOF;NCIHM <S OMCHA NB? G?>C;H ;H> NB ;H>
NBJ?L=?HNCF?M @LIG ; (;JF;H*?C?L ;H;FSMCM 0O<D?=NM QBI =IGJF?N? NB? MNO>S ;H> >I HIN
?RJ?LC?H=?; !&L?=OLL?H=?<SNB??H>I@NB?@IFFIQOJJ?LCI>QCFF<?=?HMIL?>IHNB?>;N?I@
F;MN=IHN;=N0O<D?=NMQBI;L?FIMNNI@IFFIQOJILQBIN?LGCH;N?>NB?MNO>SJL?G;NOL?FS<?@IL?
?RJ?LC?H=CHA; !&L?=OLL?H=?QCFF<?=?HMIL?>IHNB?>;N?I@F;MN=IHN;=N0O<D?=NMQBI>C?<?@IL?
B;PCHA; !&L?=OLL?H=?QCFF<?=?HMIL?>IHNB?>;N?I@>?;NB0O<D?=NMQBIQ?L?;MM?MM?>NIB;P?
; !&L?=OLL?H=?>O?NIGCMMCHAILCH=IGJF?N?>;N;@ILIH?ILGIL?I@NB?=IGJIH?HNMI@ !&
L?=OLL?H=?QCFFHIN<?=IOHN?>;M;H?P?HN
<ON=?HMIL?>IHNB?CLF;MN>;N?I@=IHN;=N0O<D?=NMQBI
Q?L?HIN>IM?>QCFFB;P?NB?CLNCG?NIL?=OLL?H=?G?;MOL?>@LIGNB?CLL;H>IGCT;NCIH>;N?
!C@@?L?H=?M <?NQ??H NL?;NG?HN ALIOJM QCFF <? N?MN?> @IL MCAHC@C=;H=? OMCHA NB? FIAL;HE N?MN

MNL;NC@C?><S;A?S?;LM
WS?;LM;H>NSJ?I@<;M?FCH?;HNC<CINC=MP;H=IGS=CH
@C>;RIGC=CH
(;JF;H*?C?L?MNCG;N?M@ILNB?M?J;L;N?;A?;H><;M?FCH?;HNC<CINC=MMNL;N;QCFF;FMI<?JL?M?HN?>
QCNB OHMNL;NC@C?> FIAL;HE N?MNM @IL NB? >C@@?L?H=? CH MOLPCP;F >CMNLC<ONCIHM <?NQ??H NL?;NG?HN
ALIOJM


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

-FINMI@NB?(*MOLPCP;F@OH=NCIH?MNCG;N?MQCFF<?JLIPC>?><SNL?;NG?HN;H><SNL?;NG?HNQCNBCH
;A?;H>NSJ?I@<;M?FCH?;HNC<CINC=MMNL;NOG
1B?//I@ !&L?=OLL?H=?I@0"/NIJF;=?<I;H> &M@ILNB?//;N
;H>Q??EM
;@N?LNL?;NG?HNQCFF<?;H;FST?>OMCHANB?M;G?G?NBI>>?M=LC<?>@ILNB?JLCG;LS?@@C=;=S?H>JICHN
;H;FSMCM1B?HOG<?L;H>J?L=?HN;A?I@MO<D?=NMQBIB;P?L?=OLL?H=?I@ !&OJNI
;H>
Q??EM;@N?LNL?;NG?HNQCFF<?JL?M?HN?><SNL?;NG?HNALIOJ@ILNB?&11;H>G&11-IJOF;NCIHM
1B?//I@ !&L?=OLL?H=?I@?;=B0"/>IHILFINNIJF;=?<IOJNIQ??EM;@N?LNL?;NG?HN
QCFF;FMI<?;MM?MM?>CHNB?&11JIJOF;NCIH1B?M;G?;H;FSMCM;M>?M=LC<?>@ILNB?JLCG;LS?@@C=;=S
;H;FSMCMQCFF<?=IH>O=N?>@IL?;=B0"/>IHILFIN=IGJ;LCMIHNIJF;=?<I



A:69;+=9;B8+6B<3<
-F;HH?>;H;FSM?MI@NB??RJFIL;NILS?@@C=;=S?H>JICHNMQCFF<?>?N;CF?>CHNB?0-


%+0/=B8+6B<3<
FFM;@?NS;H;FSM?MQCFF<?=IH>O=N?>CHNB?0;@?NS-IJOF;NCIH
OHF?MMMJ?=C@C?>INB?LQCM?0O<D?=NM
QCFF<?;H;FST?>;==IL>CHANINB?NL?;NG?HNNB?S;=NO;FFSL?=?CP?
L;NB?LNB;HNB;NNIQBC=BNB?S;L?
L;H>IGFS;MMCAH?>>P?LM??P?HNMQCFF<?=I>?>OMCHANB?*?>C=;F!C=NCIH;LS@IL/?AOF;NILS
=NCPCNC?M*?>!/0;@?NSMOGG;LC?MQCFF<?JL?M?HN?><SNL?;NG?HNALIOJIH!;S
4??E

4??E;H>4??E"H>I@0NO>S
QCNBM?F?=N?>M;@?NSMOGG;LC?M;FMIJL?M?HN?><S;A?;H>
NSJ?I@<;M?FCH?;HNC<CINC=MMNL;NOGFCMNCHAI@;FF"M
CH=FO>CHANBIM?I==OLLCHA<?@IL?NB?MN;LN
I@MNO>S>LOA
QCFF<?JLIPC>?>
1""CM;HS"NB;NH?QFS;JJ?;L?>
CH=L?;M?>CH@L?KO?H=S
ILQILM?H?>CHM?P?LCNS;@N?L
CHCNC;NCIHI@MNO>S>LOA1B?HOG<?L;H>J?L=?HN;A?I@MO<D?=NMQCNB1""MQCFF<?N;<OF;N?><S
MSMN?GILA;H=F;MM;H>JL?@?LL?>N?LG-1@IL?;=BNL?;NG?HNALIOJ;H>MNL;NOG0?LCIOM1""M
;H>1""MF?;>CHANIMNO>S>CM=IHNCHO;NCIHQCFF<?MCGCF;LFSN;<OF;N?>0OGG;LC?MI@1""M<S
G;RCGOGM?P?LCNS;H><SG;RCGOGL?F;NCIHMBCJNIMNO>S>LOAQCFF;FMI<?MOGG;LCT?><SMSMN?G
ILA;H=F;MM;H>-1
&H;>>CNCIHNIMOGG;LC?MI@;FF1""M
NB?CH=C>?H=?I@1""M;H>1""ML?F;N?>NINL?;NG?HN
I==OLLCHA<?@IL?NB?MO<D?=NL?=?CP?>;HNC<CINC=M@ILL?=OLL?H=?I@ !&QCFF<?N;<OF;N?><SMSMN?G
ILA;H=F;MM;H>-1@IL?;=BNL?;NG?HNALIOJ;H>MNL;NOG
;H><SM?P?LCNS;H>L?F;NCIHMBCJNIMNO>S
>LOA
FFJL?=?>CHA"MOGG;LC?MQCFF<?JL?M?HN?><SNL?;NG?HNALIOJ
;H>M?F?=N?>M;@?NSMOGG;LC?M
;FMIJL?M?HN?><S;A?;H>NSJ?I@<;M?FCH?;HNC<CINC=MMNL;NOG
IH!;S
4??E
4??E;H>
4??E"H>I@0NO>S
MOGG;LSI@MIFC=CN?>"M@LIG!;SMNI<SNL?;NG?HNALIOJQCFF<?JLIPC>?>MCGCF;L
MOGG;LSQCFF;FMI<?JLIPC>?><SNL?;NG?HNALIOJ;H>MNL;NOG
>>CNCIH;F;H;FSM?MQCFF>?N?LGCH?NB??RJIMOL?;>DOMN?>CH=C>?H=?L;N?M"&/J?LJ?LMIH
S?;LMI@MJ?=C@C=1""MI==OLLCHA<?@IL?MO<D?=NML?=?CP?>;HNC<CINC=M@ILL?=OLL?H=?I@ !&

<;M?>IHNB?HOG<?LI@>;SMNB?MO<D?=NMQ?L?@IFFIQ?>OJNI4??EOJNI4??E@IL0"M
IL"0&M
CH=FO>CHA1""M@ILMO<D?=NMQBI>C>HINL?=?CP?;HNC<CINC=M@ILNL?;NG?HNI@ !&


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

<?@IL?4??EOJNI4??E@IL0"MIL"0&M&H=C>?H=?L;N?MJ?LJ?LMIHS?;LMQCFF<?
JL?M?HN?>@ILNB?@IFFIQCHAMO<D?=NMQCNB;NF?;MNIH?0"MO<D?=NMQCNB;NF?;MNIH?"0&
;H>MO<D?=NMQCNB;NF?;MNIH?1""F?;>CHANIMNO>SQCNB>L;Q;F
1B?"&/J?LJ?LMIHS?;LMQCFF<?=;F=OF;N?>;MHOG<?LI@MO<D?=NMQCNB?P?HNMNIN;F
J?LMIHS?;LM
QB?L?NIN;FJ?LMIHS?;LM?KO;FMNB?MOGI@NB?@IFFIQCHA8?;LFC?MNI@NB?>;N?I@
@CLMN;HNC<CINC=NL?;NG?HN<?@IL?4??EIL4??E@IL0"MIL"0&MILNB?>;N?I@NB??P?HN
I@ CHN?L?MN X >;N? I@ >IM? 	 9
 MOGG?> ;=LIMM MO<D?=NM QBI L?=?CP?> ;HNC<CINC=M @IL
NL?;NG?HNI@ !&;H>8?;LFC?MNI@NB?>;N?I@F;MN=IHN;=NOJNI4??EIL4??E@IL0"M
IL"0&MILNB?>;N?I@NB??P?HNI@CHN?L?MNX>;N?I@>IM?	9
MOGG?>;=LIMMMO<D?=NM
QBI>C>HINL?=?CP?;HNC<CINC=M@ILNL?;NG?HNI@ !&<?@IL?4??EIL4??E
C@0"MIL
"0&M1B?NL?;NG?HN>C@@?L?H=?<?NQ??HL;N?MQCFF<?;==IGJ;HC?><S; &I<N;CH?>OMCHA
NB?HILG;F;JJLIRCG;NCIHNINB?-ICMMIH>CMNLC<ONCIH
QCNBION;==IOHNCHA@ILMNL;NC@C=;NCIH
!?M=LCJNCP?MN;NCMNC=MI@NB?F;<IL;NILSJ;L;G?N?LM;H>PCN;FMCAHG?;MOL?G?HNMQCFF<?JL?M?HN?>
<SNL?;NG?HNALIOJ@IL;FFMNO>SPCMCNM;NQBC=BNB?SQ?L?=IFF?=N?>1B?=B;HA?@LIG;M?FCH?NI
?;=BJIMN<;M?FCH?PCMCN;H>NINB?IP?L;FFQILMNJIMN<;M?FCH?P;FO?QCFF;FMI<?MOGG;LCT?><S
NL?;NG?HNALIOJ);<IL;NILSJ;L;G?N?LMQCFF<?>?@CH?>;MQCNBCHILIONMC>?HILG;FFCGCNM
;H>
MBC@NN;<F?M@LIG;M?FCH?NI?;=BJIMN<;M?FCH?PCMCNQCFF<?JLIPC>?><SNL?;NG?HNALIOJ


	
+8.6381903<<381+=+
"P?LS?@@ILNQCFF<?G;>?NI=IFF?=N;FF>;N;;NMJ?=C@C?>NCG?M
;==IL>CHANINB?M=B?>OF?I@MNO>S
?P?HNM
#IL NB? JLCG;LS ?H>JICHN
 MO<D?=NM QBI ;L? FIMNNI@IFFIQOJ
 N?LGCH;N?> @LIG NB? MNO>S
JL?G;NOL?FS
IL>C?>QCNBION; !&L?=OLL?H=?<?@IL?Q??EM;@N?LNL?;NG?HN;L?>?@CH?>;MB;PCHA
;HOH@;PIL;<F?ION=IG?@ILNB?JLCG;LS;H;FSMCM0O<D?=NMQBIGCMM;HS=IHN;=NQCNBNB?MCN?
<?@IL?4??EJBIH?=;FFMIL4??EPCMCN<ONQBI>IHINL?JILNILGIL?=IHM?=ONCP?>;SM
QCNBWOH@ILG?>MNIIFM;NNB?MO<M?KO?HNN?F?JBIH?=IHN;=NIL<S4??EQCFF<?>?@CH?>;M
B;PCHA;@;PIL;<F?ION=IG?@ILNB?JLCG;LS;H;FSMCM&@NB?4??EPCMCNCMGCMM?>
;MO<D?=NQCFF
<?=IHMC>?L?>;MB;PCHA;HOH@;PIL;<F?ION=IG?@ILNB?JLCG;LS;H;FSMCMC@B?L?JILNMILGIL?
=IHM?=ONCP?>;SMQCNBWOH@ILG?>MNIIFM;NNB?H?RNOHGCMM?>N?F?JBIH?=IHN;=NILPCMCN&@;HS
I@NB?=IGJIH?HNMI@NB? !&L?=OLL?H=?=LCN?LC;CMGCMMCHA
;H>NB?HIHGCMMCHA=IGJIH?HNM
G??NNB? !&L?=OLL?H=?=LCN?LC;
NB?H;HOH@;PIL;<F?ION=IG?@ILNB?JLCG;LS;H;FSMCMCMCGJON?>
%IQ?P?L
C@MIG?I@NB?=IGJIH?HNMI@NB? !&L?=OLL?H=?=LCN?LC;;L?GCMMCHA
;H>;NF?;MNI@
NB?HIHGCMMCHA=IGJIH?HNM>I?MHING??NNB? !&L?=OLL?H=?=LCN?LC;
NB?H;@;PIL;<F?ION=IG?
@ILNB?JLCG;LS;H;FSMCMCMCGJON?>1B?CGJON?>L?=OLL?H=?MN;NOM@ILMO<D?=NMQBIB;P?;NF?;MN
IH?=IGJIH?HNI@NB? !&L?=OLL?H=??H>JICHN=LCN?LC;GCMMCHAQCFF<?>?N;CF?>CHNB?0-
*CMMCHA>;N;@ILNB?NCG?NI !&L?=OLL?H=?;H;FSM?MQCFF<?B;H>F?>QCNB=?HMILCHA<SNB?(;JF;H
*?C?LG?NBI>0O<D?=NMQBI=IGJF?N?NB?MNO>S;H>>IHIN?RJ?LC?H=?; !&L?=OLL?H=?<SNB?
?H>I@NB?@IFFIQOJJ?LCI>QCFF<?=?HMIL?>IHNB?>;N?I@F;MN=IHN;=N0O<D?=NMQBI;L?FIMNNI
@IFFIQOJILQBIN?LGCH;N?NB?NLC;FJL?G;NOL?FS<?@IL??RJ?LC?H=CHA; !&L?=OLL?H=?QCFF<?
=?HMIL?>IHNB?>;N?I@F;MN=IHN;=N0O<D?=NMQBI>C?<?@IL??RJ?LC?H=CHA; !&L?=OLL?H=?QCFF
<?=?HMIL?>IHNB?CL>;N?I@>?;NB0O<D?=NMQBIQ?L?;MM?MM?>NIB;P?; !&L?=OLL?H=?>O?NI
GCMMCHAILCH=IGJF?N?>;N;@ILIH?ILGIL?I@NB?=IGJIH?HNMI@ !&L?=OLL?H=?QCFFHIN<?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

=IOHN?>;M;H?P?HN
<ON=?HMIL?>IHNB?CLF;MN>;N?I@=IHN;=N0?HMCNCPCNS;H;FSM?MI@NB?NCG?NI
L?=OLL?H=??H>JICHNQCFF<?JLIPC>?>CHNB?0-
+IINB?LCGJON;NCIHM@ILGCMMCHA>;N;QCFF<?G;>??R=?JN;M>?N;CF?>CHNB?0-@ILGCMMCHA
>;N?M;H>NCG?M


 %&$&($#'$ &%



99.6383-+6";+-=3-/
1BCMMNO>SQCFF<?=IH>O=N?>CH;==IL>;H=?QCNBNB?&HN?LH;NCIH;F IH@?L?H=?IH%;LGIHCM;NCIH
& %AOC>?FCH?M@IL$II> FCHC=;F-L;=NC=?$ -;H>NB?;JJLIJLC;N?L?AOF;NILSL?KOCL?G?HNM
1B?CHP?MNCA;NILQCFF<?NBILIOABFS@;GCFC;LQCNBNB?;JJLIJLC;N?OM?I@NB?CHP?MNCA;NCIH;FJLI>O=N
"MM?HNC;F =FCHC=;F >I=OG?HNM QCFF <? G;CHN;CH?> NI >?GIHMNL;N? NB? P;FC>CNS I@ NB? MNO>S ;H>
CHN?ALCNS I@ NB? >;N; =IFF?=N?> *;MN?L @CF?M QCFF <? ?MN;<FCMB?> ;N NB? <?ACHHCHA I@ NB? MNO>S

G;CHN;CH?>@ILNB?>OL;NCIHI@NB?MNO>S
;H>L?N;CH?>;==IL>CHANINB?;JJLIJLC;N?L?AOF;NCIHM
• 1B? JLCH=CJ;F CHP?MNCA;NIL B;M NB? IP?L;FF L?MJIHMC<CFCNS @IL NB? =IH>O=N ;H>
;>GCHCMNL;NCIHI@NB?MNO>S;NNB?MNO>SMCN?;H>@IL=IHN;=NMQCNBNB?MJIHMIL
NB?
&/&" 
;H>FI=;F;ONBILCNC?M
• 1B?JLCH=CJ;FCHP?MNCA;NILCML?MJIHMC<F?@IL?HMOLCHANB?JLCP;=S
B?;FNB
;H>Q?F@;L?
I@NB?MO<D?=NM>OLCHA;H>;@N?LNB?=FCHC=;FMNO>S
• FF CHP?MNCA;NILM ;L? L?MJIHMC<F? @IL J?L@ILGCHA NB? MNO>S CH ;==IL>;H=? QCNB NB?
JLINI=IF;H>NB?;<IP?AOC>?FCH?M;H>L?AOF;NCIHM
;H>@IL=IFF?=NCHA
>I=OG?HNCHA
;H>
L?JILNCHANB?>;N;;==OL;N?FS
• FFCHP?MNCA;NILMGOMN<?@;GCFC;LQCNBNB?<;=EALIOH>;H>L?KOCL?G?HNMI@NB?MNO>S
;H>QCNBNB?JLIJ?LNC?MI@NB?CHP?MNCA;NCIH;FJLI>O=N;M>?M=LC<?>CHNB?=OLL?HNP?LMCIH
I@NB?&HP?MNCA;NIL[MLI=BOL?
• 1B? JLCH=CJ;F CHP?MNCA;NIL CM L?MJIHMC<F? @IL >CMNLC<ONCHA MNO>S CH@ILG;NCIH ;H>
>I=OG?HN;NCIHNI;FF;JJLIJLC;N?MN;@@G?G<?LM<?@IL?;H>>OLCHANB?=IOLM?I@NB?
MNO>S;MOJ>;N?>CH@ILG;NCIH<?=IG?M;P;CF;<F?


&;3+69?/;8+8-/+8.!?/;<312=
1BCMMNO>SQ;M>?P?FIJ?>CH=IFF;<IL;NCIHQCNB; FCHC=;F>PCMILS IGGCNN??
QBC=B=IGJLCM?M
<INBMJIHMIL?GJFIS?>;H>CH>?J?H>?HNM=C?HNC@C=?RJ?LNMQBIJLIPC>?CHJONIHMNO>S>?MCAH

CHN?LJL?N;NCIHI@MNO>SL?MOFNM
;H>MO<M?KO?HNJ??LL?PC?Q?>M=C?HNC@C=JO<FC=;NCIHM


=23-+698<3./;+=398<
1BCMMNO>SQCFF<?=IH>O=N?>CH;==IL>;H=?QCNB?NBC=;FJLCH=CJF?MCHNB??FGIHN/?JILN
;H>CH
=IGJFC;H=?QCNBFI=;F&/&" L?KOCL?G?HNM;H>CHMNCNONCIH;FAOC>?FCH?M
1B?CHP?MNCA;NILGOMNI<N;CH&/&" ;JJLIP;FI@NB?JLINI=IF
& #
;H>INB?LL?KOCL?>MNO>S
>I=OG?HN;NCIH<?@IL?MN;LNCHANB?MNO>S&NCMNB?L?MJIHMC<CFCNSI@NB?CHP?MNCA;NILNI?HMOL?NB;N
;FF;MJ?=NMI@&/&" L?PC?Q;L?=IH>O=N?>CH;==IL>;H=?QCNB=OLL?HNAIP?LHG?HN;FL?AOF;NCIHM


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

JLIAL?MML?JILNGOMN<?MO<GCNN?>NINB?&/&" ;NNB?L?KOCL?>CHN?LP;FM;H>HINF?MMNB;H
;HHO;FFSNNB?=IGJF?NCIHILN?LGCH;NCIHI@NB?MNO>S
NB?CHP?MNCA;NILGOMNMO<GCN;=FIM?ION
F?NN?LNINB?&/&" 


%>,4/-=809;7+=398+8.809;7/.98</8=
?@IL?;HSN?MNCHAOH>?LNBCMJLINI=IF
CH=FO>CHAM=L??HCHAN?MNM;H>;MM?MMG?HNM
QLCNN?HCH@ILG?>
=IHM?HN QCNB NB? &/&"  ;JJLIP?> & # GOMN <? I<N;CH?> @LIG NB? MO<D?=N IL NB?CL F?A;FFS
;ONBILCT?>L?JL?M?HN;NCP?)/
CH;==IL>;H=?QCNBFI=;FJL;=NC=?;H>L?AOF;NCIHM
1B?<;=EALIOH>I@NB?JLIJIM?>MNO>S
JLI=?>OL?M
;H><?H?@CNM;H>LCMEMI@NB?MNO>SGOMN<?
?RJF;CH?>NINB?MO<D?=NIL)/1B?MO<D?=NIL)/GOMN<?ACP?HMO@@C=C?HNNCG?NI=IHMC>?L
QB?NB?LNIJ;LNC=CJ;N?CHNB?MNO>S
=IJSI@NB?& #
MCAH?>;H>>;N?><SNB?MO<D?=NIL)/
GOMN<?ACP?HNINB?MO<D?=NIL)/
";=B& #MBIOF>=IHN;CH;H;ONBILCT;NCIH;FFIQCHANB?CHP?MNCA;NILNIOM?;H>>CM=FIM?MO<D?=N
B?;FNBCH@ILG;NCIHC?
MO<D?=NC>?HNC@C;<F?B?;FNBCH@ILG;NCIHCH=IGJFC;H=?QCNBFI=;FF;Q


%>,4/-=9803./8=3+63=B
0O<D?=N=IH@C>?HNC;FCNSCMB?F>MNLC=NFSCHNLOMN<SNB?CHP?MNCA;NIL;H>G?>C=;F;H>F;<IL;NILSMN;@@
1BCM=IH@C>?HNC;FCNSCM?RN?H>?>NI=IP?LN?MNCHAI@<CIFIAC=;FM;GJF?MCH;>>CNCIHNINB?=FCHC=;F
CH@ILG;NCIHL?F;NCHANIJ;LNC=CJ;NCHAMO<D?=NM1B?CHP?MNCA;NILQCFFAL;HN;L?AOF;NILS;ONBILCNS
;==?MMNINB?MO<D?=N[MILCACH;FG?>C=;FL?=IL>M@ILP?LC@C=;NCIHI@>;N;A;NB?L?>
;H>NI;O>CNNB?
>;N;=IFF?=NCIHJLI=?MM1B?MO<D?=NM[;H>>IHILM[=IH@C>?HNC;FCNSQCFF<?G;CHN;CH?>;H>QCFFHIN
<?G;>?JO<FC=FS;P;CF;<F?NINB??RN?HNJ?LGCNN?><SNB?;JJFC=;<F?F;QM;H>L?AOF;NCIHM
0O<D?=NMQCFFHIN<?C>?HNC@C?><SH;G?CH;HSMNO>SL?JILNM
;H>NB?M?L?JILNMQCFF<?OM?>@IL
L?M?;L=BJOLJIM?MIHFS


";9=9-9697:63+8-/
1B?CHP?MNCA;NILQCFF=IH>O=NNB?MNO>SCH=IGJFC;H=?QCNBNB?&/&" ;JJLIP?>JLINI=IFQCNBION
;HS=B;HA?MIL>?PC;NCIHM*I>C@C=;NCIHMNINB?JLINI=IFQCFFL?KOCL?;JJLIP;F@LIGNB?MJIHMIL
;H>QLCNN?H&/&" ;JJLIP;F<?@IL?CGJF?G?HN;NCIH
?R=?JNQB?HNB?GI>C@C=;NCIHCMH??>?>NI
?FCGCH;N? ;H CGG?>C;N? B;T;L> NI NB? MO<D?=N HS =B;HA?
 CHN?HNCIH;F IL INB?LQCM?
 GOMN <?
L?JILN?>CGG?>C;N?FSNINB?MJIHMIL;H>NINB?L?F?P;HN&/&" ;H>ILL?AOF;NILS;ONBILCNS;M
L?KOCL?><SAOC>?FCH?MILL?AOF;NCIH0NO>SMCN?MNB;N@;CFNI=IGJFSG;S<?N?LGCH;N?>


>=>;/'</90%=9;/.%:/-37/8<
1B?MJIHMILG;S
QB?L?J?LGCNN?><SFI=;FL?AOF;NCIHM
=IH>O=N@ONOL?<CIG?>C=;FL?M?;L=BIH
MJ?=CG?HM CH=FO>CHA <FII>
 M?LOG
 ;H> MNIIF LIONCH?FS ;H> MJ?=C@C=;FFS =IFF?=N?> >OLCHA NBCM
=FCHC=;FMNO>S@ILJIN?HNC;F=IGG?L=C;FOM?<S0?L?M1B?L;J?ONC=M
&H=
;H>MJ?=CG?HMG;S<?
MNIL?>@ILOJNIS?;LM1BCML?M?;L=BG;SCH=FO>?A?H?NC=;H;FSM?MI@!+/+;H>ILNB?
G?;MOL?G?HNI@INB?L;H;FSN?M


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@



%=>.B983=9;381
/?AOF;L GIHCNILCHA CM >?@CH?> CH & % $OC>;H=? @IL &H>OMNLS " $II>  FCHC=;F -L;=NC=?
 IHMIFC>;N?>$OC>;H=?
0?=NCIH
;MY1B?;=NI@IP?LM??CHANB?JLIAL?MMI@;=FCHC=;FNLC;F
;H>
I@?HMOLCHANB;NCNCM=IH>O=N?>
L?=IL>?>
;H>L?JILN?>CH;==IL>;H=?QCNBNB?JLINI=IF
MN;H>;L>
IJ?L;NCHA JLI=?>OL?M
 $ -
 ;H> NB? ;JJFC=;<F? L?AOF;NILS L?KOCL?G?HNMZ 1B? JOLJIM? I@
GIHCNILCHACMNIP?LC@SNB;N
• 1B?LCABNM;H>Q?FF<?CHAI@NB?BOG;HMO<D?=NM;L?JLIN?=N?>
• 1B?L?JILN?>MNO>S>;N;;L?;==OL;N?
=IGJF?N?
;H>P?LC@C;<F?@LIGMIOL=?>I=OG?HNM
• 1B? =IH>O=N I@ NB? MNO>S CM CH =IGJFC;H=? QCNB NB? =OLL?HNFS ;JJLIP?>
JLINI=IF;G?H>G?HNM
QCNB$ -
;H>QCNBNB?;JJFC=;<F?L?AOF;NILSL?KOCL?G?HNM
&NQCFF<?NB?L?MJIHMC<CFCNSI@NB?CHP?MNCA;NILNI?HMOL?NB;NNB??MM?HNC;F>I=OG?HNM;L?;P;CF;<F?
;NNB?CHP?MNCA;NILILCHMNCNONCIH;FMCN?HSIL;FFI@NB?M?>I=OG?HNMG;S<?J?LNCH?HNNI
;H>
MBIOF><?;P;CF;<F?@IL
GIHCNILCHA<SNB?MJIHMILILCHMJ?=NCIH<SNB?L?AOF;NILS;ONBILCNC?M;M
>?@CH?>CHNB?GIHCNILCHAJF;H
1B?MJIHMILIL;H;ONBILCT?>MJIHMILL?JL?M?HN;NCP?QCFF=IH>O=NL?AOF;LMNO>SMCN?GIHCNILCHA
PCMCNMNIL?PC?Q;H>P;FC>;N?MNO>S>;N;;M>?@CH?>CHNB?GIHCNILCHAJF;H<SL?PC?QCHAMO<D?=NM[
G?>C=;F L?=IL>M ;H> ? /#M CH ;==IL>;H=? QCNB QLCNN?H MN;H>;L> IJ?L;NCHA JLI=?>OL?M
 & %
AOC>?FCH?M
 $ -
 ;H> ;JJFC=;<F? L?AOF;NCIHM ;H> AOC>?FCH?M 1B? CHP?MNCA;NIL QCFF ;FFIQ
L?JL?M?HN;NCP?MI@NB?MJIHMILILL?AOF;NILS;ONBILCNC?MNICHMJ?=N@;=CFCNC?M;H>L?=IL>ML?F?P;HNNI
NBCMMNO>S


+</$/:9;=9;7<+8.%=>.B$/-9;.<
!;N;QCFF<?=IFF?=N?>@ILNBCMMNO>S<SOMCHA;H? /#1B?CHP?MNCA;NIL;H>MNO>SMCN?MN;@@QCFF
L?=?CP?NL;CHCHA;H>MOJJILNIHNB?OM?I@NB?? /#FF? /#>;N;;L?NI<?=IGJF?N?><SNB?
MNO>S=IIL>CH;NILILINB?L>?MCAH;N?>MNO>SMCN?J?LMIHH?FFF>;N;?HNLS
GI>C@C=;NCIH
IL>?F?NCIH
QCFF <? L?=IL>?> ;ONIG;NC=;FFS CH NB? ?F?=NLIHC= ;O>CN NL;CF FF >;N; =B;HA?M QCFF <? =F?;LFS
CH>C=;N?>QCNB;G?;HMNIFI=;N?JLCILP;FO?MOHCKO?OM?LC>?HNC@C=;NCIH;H>J;MMQIL>QCFF<?
;MMCAH?>NI;FFJ?LMIHH?F;JJLIP?>NI?HN?LIL=B;HA?>;N;NIJL?P?HNOH;ONBILCT?>;==?MMNINB?
>;N;
FF?F?=NLIHC=>;N;?HN?L?><SNB?MNO>SMCN?CH=FO>CHANB??F?=NLIHC=;O>CNNL;CFQCFF<?G;CHN;CH?>
ILG;>?;P;CF;<F?;NNB?MNO>SMCN?CH=IGJFC;H=?QCNB1CNF?-;LNI@NB? I>?I@#?>?L;F
/?AOF;NCIHM #/;H>INB?L;JJFC=;<F?L?N?HNCIHL?AOF;NCIHM1B?=IGJON?LCT?>MSMN?GCM;<F?NI
A?H?L;N?;==OL;N?;H>=IGJF?N?=IJC?MI@L?=IL>MCHJ;J?LIL?F?=NLIHC=@ILG@ILCHMJ?=NCIH;H>
L?PC?Q<S;JJFC=;<F?L?AOF;NILS;ONBILCNC?M
NB?&/&" /?M?;L=B"NBC=MI;L>
;H>;O>CNILMIL
INB?L>?MCAH??M;ONBILCT?><SNB?MJIHMIL
&H;>>CNCIHNI=;JNOLCHANB?OM?LC>?HNC@C=;NCIH;MJ;LNI@NB?;O>CNNL;CF@IL;FF>;N;?HNLS
NB?? /#
;FFIQM@IL;JJFC=;NCIHI@?F?=NLIHC=MCAH;NOL?M1B?CHP?MNCA;NILIL>?MCAH;N?>MO<CHP?MNCA;NIL

;@N?LL?PC?QI@NB?>;N;CHNB?? /#
QCFF=IH@CLGNB?P;FC>CNSI@?;=BMO<D?=N[M>;N;<S?F?=NLIHC=
MCAH;NOL?1BCM?F?=NLIHC=MCAH;NOL?QCFF<?=?LNC@C?>;MIONFCH?>CH #/-;LN


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

1B?MJIHMILQCFFL?N;CHNB?ILCACH;F? /#>;N;;H>;O>CNNL;CFH?F?=NLIHC=IL=?LNC@C?>J;J?L=IJS
I@;FF=IGJF?N?>? /#>;N;
CH=FO>CHAKO?LSL?MIFONCIH=ILL?MJIH>?H=?
QCFF<?JLIPC>?>NINB?
CHP?MNCA;NIL;NNB??H>I@NB?MNO>S


	
%=>.B97:6/=398
1B? MJIHMIL L?KOCL?M NB? @IFFIQCHA >;N; ;H> G;N?LC;FM NI <? MO<GCNN?> <?@IL? ; MNO>S =;H <?
=IHMC>?L?>=IGJF?N?ILN?LGCH;N?>
• );<IL;NILS@CH>CHAM
=FCHC=;F>;N;
;H>;FFMJ?=C;FN?MNL?MOFNM@LIGNB?NCG?I@CH@ILG?>
=IHM?HNNBLIOABNB?"H>I@0NO>S3CMCN;N4??E
• "F?=NLIHC= /#MJLIJ?LFS=IGJF?N?><S;JJLIJLC;N?MNO>SJ?LMIHH?F;H>MCAH?>;H>
>;N?><SNB?CHP?MNCA;NIL
•  IGJF?N?MNO>S>LOA;==IOHN;<CFCNSL?=IL>M
•  IJC?M I@ &/&"  ;JJLIP;F ;H> HINC@C=;NCIH I@ NB? ILCACH;F JLINI=IF ;H> I@ ;HS
JLINI=IF;G?H>G?HNM
C@;JJLIJLC;N?
• MOGG;LSI@NB?MNO>SJL?J;L?><SNB?CHP?MNCA;NIL;H&/&" MOGG;LSF?NN?LCM
;==?JN;<F?


0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@



%&!$$ %
H>?LMIH *'
 4;FMB ! & -"/*+,3
 +,0&*
 ;H> NB? *;HN?F N?MN CH NB? @;=? I@
B?N?LIA?H?IOM>CMJ?LMCIHMQB;NHOFFBSJINB?MCM;L?SION?MNCHA"=IF*IHIAL

;EE?H'0
ILI>S1
L;H>N)'
LCFF'3
!?G;L=I! 
#L;HTIM*
?N;F#?=;F*C=LI<CIN;
1L;HMJF;HN;NCIH 4ILEALIOJ 1L?;NCHA  FIMNLC>COG >C@@C=CF? CH@?=NCIH QCNB @?=;F GC=LI<CIN;
NL;HMJF;HN;NCIH FCH$;MNLI?HN?LIF%?J;NIF!?=
 ?HN?LM @IL !CM?;M?  IHNLIF ;H> -L?P?HNCIH  FIMNLC>COG >C@@C=CF? CH@?=NCIH P;CF;<F? @LIG
BNNJQQQ=>=AIPB;CILA;HCMGM=>C@@ >C@@:CH@?=NBNGF==?MM?>*;L
 B;I  +IHJ;L;G?NLC= ?MNCG;NCIH I@ NB? HOG<?L I@ =F;MM?M CH ; JIJOF;NCIH 0=;H> ' 0N;NCMN

 IFQ?FF /(
  I>>CHANIH ' "MNCG;NCHA N?LL?MNLC;F <CI>CP?LMCNS NBLIOAB ?RNL;JIF;NCIH -BCFIM
1L;HM/0I=)IH>CIF0=C'OF
 OC )
 %OHA %*' ;H> 4;HA
 0' *I>C@C=;NCIH I@ 0;GJF? 0CT? CH $LIOJ 0?KO?HNC;F 1LC;FM
CIG?NLC=M0?J
!?J?MN?F!!
LIHI@@!*"JC>?GCIFIASI@ FIMNLC>COG>C@@C=CF?CH@?=NCIH'-B;LG-L;=N
,=N
#;LLCHANIH -
*;HHCHA$1?MNMN;NCMNC=M;H>M;GJF?MCT?@ILGOF;?@IL=IGJ;L;NCP?<CHIGC;F
NLC;FM QCNB HOFF BSJINB?MCM I@ HIHT?LI LCME >C@@?L?H=? IL HIHOHCNS L?F;NCP? LCME 0N;NCMNC=M &H
*?>C=CH?*;S
#?E?NS/
?N;F &!/?=OLL?HN FIMNLC>COG>C@@C=CF?>C;LLB?; B;L;=N?LCMNC=MI@;H>
LCME@;=NILM@ILJ;NC?HNM?HLIFF?>CH;JLIMJ?=NCP?
L;H>IGCT?>
>IO<F?<FCH>?>NLC;F
#II>;H>!LOA>GCHCMNL;NCIH
*OFNCJF?"H>JICHNMCH FCHC=;F1LC;FM#!$OC>;H=?@IL&H>OMNLS
';HO;LS
$;L?S(4
CNE?H0)
$M=BQCH>)
$I>>O0
5C?6
!O@@ 
?N;F!?P?FIJG?HN;H>P;FC>;NCIH
I@; FIMNLC>COG>C@@C=CF?B?;FNBL?F;N?>KO;FCNSI@FC@?KO?MNCIHH;CL?' FCH$;MNLI?HN?LIF
0?J
%CA;'1
(?FFS -+?Q>LOAM;H>MNL;N?AC?M@ILG;H;A?G?HNI@ FIMNLC>COG>C@@C=CF?=IFCNCM
'&HN?HMCP? ;L?*?>#?<
%OAB?M '
 %?FFG;HH ''
 /C=E?NNM 1%
 IB;HH;H '  IOHNCHA NB? OH=IOHN;<F? MN;NCMNC=;F
;JJLI;=B?MNI?MNCG;NCHAGC=LI<C;F>CP?LMCNSJJF"HPCLIH*C=LI<CIF,=N
(CG6
4IH0>DOMN?>JLIJILNCIH>C@@?L?H=?;H>=IH@C>?H=?CHN?LP;FCHMNL;NC@C?>L;H>IGCT?>
NLC;FM-B;LG;2$-;J?L0-
)?MM;# 
*O6
;G<?LA4*
?F>;PM7$
!OGS;NC$(
!OHH'/
?N;FOL>?HI@ FIMNLC>COG
>C@@C=CF?CH@?=NCIHCHNB?2HCN?>0N;N?M+"HAF'*?>#?<
)?PS?N;F&H=C>?H=?;H> IMNMI@ FIMNLC>COG>C@@C=CF?&H@?=NCIHMCH ;H;>;
,#&!




0?L?M1B?L;J?ONC=M
&H=
 ,+#&!"+1&)
-LINI=IF0"/"0


G?H>G?HN!;N?JLCF
-;A?I@

*=#;LF;H> )3
 ?N ;F '*    L;H>IGCT?> JF;=?<I=IHNLIFF?> NLC;F I@
0;==B;LIGS=?M <IOF;L>CC CH =IG<CH;NCIH QCNB MN;H>;L> ;HNC<CINC=M @IL  FIMNLC>COG >C@@C=CF?
>CM?;M?
+;NCIH;F ;H=?L&HMNCNON?
 IGGIH1?LGCHIFIAS LCN?LC;@IL>P?LM?"P?HNMP
+ &
+&%

!%%0*;S

+&%JO<FC=;NCIH
+A(*
#?LL?SL;'
%CAACH<INNIG0(
)SH=B'
(;MBS;J- 
$IJCH;NB0
?N;F*C=LI<CIN;
FC<?L;N?>BIMNMOA;LM@;=CFCN;N?JIMN;HNC<CINC=?RJ;HMCIHI@?HN?LC=J;NBIA?HM+;NOL?,=N

-IF;HA?
 *
$SILE? "
(?HH?>S*
)?MFC?')
 BCH!)
4;HA0
?N;F,P?L>C;AHIMCMI@
 FIMNLC>COG >C@@C=CF? CH@?=NCIH CH NB? GIF?=OF;L N?MN ?L; '* &HN?LH *?> 
+IP
0OL;QC=T *
?N;F &!1B?M?;L=B@IL;<?NN?LNL?;NG?HN@ILL?=OLL?HN FIMNLC>COG
>C@@C=CF?>CM?;M?OM?I@BCAB>IM?P;H=IGS=CH=IG<CH?>QCNB0;==B;LIGS=?M<IOF;L>CC
0OL;QC=T  *
 L;H>N )'
 CHCIH !$
 H;HNB;ELCMBH;H +
  OLLS 0/
 $CFFCA;H -%
 ?N ;F
$OC>?FCH?M @IL >C;AHIMCM
 NL?;NG?HN
 ;H> JL?P?HNCIH I@  FIMNLC>COG >C@@C=CF? CH@?=NCIHM G '
$;MNLI?HN?LIFJL
1B?LCIN *
(I?HCAMEH?=BN*'
 ;LFMIH-"'L
%;NNIH$"
+?FMIH*
)C
?N;FHNC<CINC=
CH>O=?>MBC@NMCHNB?GIOM?AONGC=LI<CIG?;H>G?N;<IFIG?CH=L?;M?MOM=?JNC<CFCNSNI FIMNLC>COG
>C@@C=CF?CH@?=NCIH+;N IGGOH
P;H +II> "
 ?N ;F +"'*   !OI>?H;F CH@OMCIH I@ >IHIL @?=?M @IL L?=OLL?HN
 FIMNLC>COG>C@@C=CF?
4;>BQ;
F+;BB;M*#
!C?LEBCMCHA/
-;N?F/
?N;F%CABLCMEI@JIMNCH@?=NCIOMCLLCN;<F?
<IQ?FMSH>LIG?CHJ;NC?HNMQCNB FIMNLC>COG>C@@C=CF?CH@?=NCIHFCG?HN-B;LG;=IF1B?L
'OF>IC;JN
4?CHA;L>?H/
 B?H 
I<L
6;I!
)O6
+?FMIH3*
?N;F*C=LI<CIN;NL;HMJF;HN;NCIH
L?MNIL?M HILG;F @?=;F <CF? ;=C> =IGJIMCNCIH CH L?=OLL?HN  FIMNLC>COG >C@@C=CF? CH@?=NCIH G '
-BSMCIF$;MNLICHN?MN)CP?L-BSMCIF#?<$