!"#$%&'()*+$,-)./$$$$$$$
+7..(...) +777(... $" +6..(...) +677(777
!"##$%&'($))*%+,$)
+1..(...) +177(777 +2..(...) +277(777 +3..(...) +377(777 +4..(...) +477(777 +5..(...) +577(777
!"#$%&$'()*++ ,-(.%/(-#01"(23"(4"5/6 ( $
( $
!"#$%&'()*+$,-)./$0 1#22#-$3&22&'(4$5#'267
6 /RRS 6XLWH /XEERFN 7H[DV
(
(
VWX@YYP@OZ[4$\UXXS]
9"#*$>).-$").<#$<&2<$)*$2"#$('-A#2$;&2").2$'*>$)33#-<=$>).$<2'-2$2)$K.#<2&)*$;">$&2$"'<*H2$<)5+@$E<$&2$2"#$#:)*)(>L$E<$&2$ &*$2"#$;-)*?$5):'2&)*L$M)(#2&(#<$2"#$/-)75#($&<*H2$2"#$#:)*)(>$)-$2"#$5):'2&)*=$7.2$-'2"#-$<&(/5#$")(#);*#-$(&<N 2'A#<@$O#-#$'-#$2"#$2)/$(&<2'A#<$")(#);*#-<$('A#$;"#*$<#55&*?$2"#&-$")(#<@ P@$Q-&:&*?$2))$O&?" 708"#%'"$5(&$"(90:9"$:";(<=/3(/3"=$(#0//08(>=:"?(:0/('0%$5@(=A('0%(B$=9"('0%$(30%5"(3=C3"$(/3&:(/3"(:"=C3#0$300;(&1"$&C"( LQ DQ DWWHPSW WR FRYHU \RXU H[SHQVHV \RX ZLOO VFDUH RII EX\HUV ZKR DUH ORRNLQJ RXW IRU WKHLU RZQ ÀQDQFHV .HHS \RXU DVNLQJ B$=9"(=:(>=:"(<=/3(908B&$&#>"(308"5(A0$(5&>"(=:('0%$(:"=C3#0$300;D
+3.(...) +77(777 +/..(...) +/27(777 +/3.(...) +/77(777 +0..(...) +027(777 +03.(...) +077(777 ! +27(777
!
########012#
!"#
#######012#
&# '#
######!$%"# ######!)%"#
!)#
######012#
*&# ######&&# !,,#
012# 012# !# 012# *#
!(%,(# ,!%,(# '%"'#
!""#
!)%"(#
,*'#
&%'(#
),)#
!"%'"#
)(+#
$ ! # % "# "
012#
#####**%""#
+(# !""#
012#
########'%"#
!$#
$%&'#
# " $ ' % # !'
*# )# *# !"# !&#
!"(# ()#
0 ! " ! ""
012#
!"#
012#
&#
#####012#
'#
)#
!*#
!#
!,#
(#
*!#
'#
()#
*)#
+(#
*!#
("#
(!#
)&#
!)*#
+&#
*(,#
(&#
*!*#
)"#
*+#
+#
1 !
#######012# 012# 012# !# ##########!# !# $# !*# '# !!# #########**# $'# $&# ,*#
012# !# !# ,# !# !# )# !"# (# '# !,# *)# ,+# !"#
2 ! $ ! # ' ! !
& ! " #! #"
####012#
012#
!# !#
012# ########!#
,# #######!# !# )# !"# (# '# !,# *)# ,+# !"#
$ ! & !
!# !# 012# ,# +# )# !!# !$# &!# ),# !*#
# ' "
012#
######012#
012#
012#
,#
!#
*#
!#
,#
!#
)#
012#
*#
,#
,+#
+#
!+#
)#
)"#
!!#
+,#
!$#
!$&#
&!#
!$,#
),#
)(#
!*#
$ ! " ! # "
$ ! "
012# 012# -+,"."""# -$""."""# -&)+."""# 012# ###-)("."""# -*,!.!))# -,$(."$&# -,,'.!++# -!&&.++!# -!!$.'&!# -$).',!# -,'.('*#
% !
! "#
012# 012# ####!""%"/# ##')%$,/# !""%"/# ###012# '(%$$/# ###'(%)&/# '+%")/# #''%$*/# ###'(%+,/# '(%+$/# ')%!+/# '(%++/#
"# # "
! #
012# 012# ,# ,)!# !!'# 012# !&)# !!$# !+$# +&# !)(# !,,# !,'# !"*#
% ! '" ! #
!)2'5$['-A#2$ZC#-C&#; 4"5=;":/=&>(&:;(Q=:C>"(!&8=>'(<=/3(-9$"&C" Z"&$(/0(V&/"(&5(0A([&:%&$'(P+?()*++ 1XPEHUV SXOOHG IURP 1DYLFD \%##09G(-5509=&/=0:(0A(4M-\2T4Q
/3";=&80:;C$0%BXG<D908 ">=J&#"/3&XG<D908 <<<D$=:C/3";=&80:;5D908 Q/&:;&$;(L&=> 8 6 3RVWDJH 3DLG RM4LK2(STD(+* F0>AA0$/3?(2U
23"(V=&80:;(W$0%B( I">>"$(F=>>=&85(4"&>/' 6 /RRS 6XLWH /XEERFN 7H[DV
+20(
/3";=&80:;C$0%BXG<D908 <<<D$=:C/3";=&80:;5D908
0$1)2#$3-)($45&6'7#2"8 9#5:)(#$2)$2"#$;)*+#-3.5$;)-5+$)3$").<#<=$;"#-#$>).-$'?#*2$ +)#<$('22#-@$$9"#*$>).$'-#$-#'+>$2)$7.>$)-$<#55$'$")(#$&2$&<$ &(/)-2'*2$2"'2$>).$;)-A$;&2"$<)(#)*#$2"'2$"'<$#B2#*<&C#$('-A#2$ A*);5#+?#=$A*);<$2"#$*.(7#-<$'*+$#B:#5<$&*$:.<2)(#-$<#-C&:#@$$ 4B:&2&*?$*#;<D$E*2#-#<2$-'2#<$'-#$.*+#-$FG@@@@@@@@@:'*H2$2"&*A$)3$'$ 7#22#-$2&(#$2)$7.>D$$I#'+>$2)$+);*<&6#=$I#'+>$2)$./<:'5#@@@@@@@:'55$
$S@$I#<2-&:2&*?$T&#;&*?$O).-< E%'"$5(9&:6/(#%'(<3&/(/3"'(9&:6/(5""D(KA('0%($"A%5"(/0(>"/('0%$(&C":/(530<('0%$(308"(0:("1":=:C5(&:;(<""G":;5?('0%(90%>;( #"(8=55=:C(&(5&>"D(E'(0:>'(&>>0<=:C(1="<=:C5(<3":('0%6$"(&<&'(&/(<0$G?('0%6$"(:0/(&990880;&/=:C(308"#%'"$5(<30(<0$G( WKH VDPH KRXUV DV \RX %H ÁH[LEOH ZLWK \RXU YLHZLQJ KRXUV OHW \RXU DJHQW VKRZ \RXU KRPH WR SRWHQWLDO EX\HUV ZHHNGD\V <""G:=C3/5(&:;(<""G":;5D
(#@@@@@@@@@E$J'-#D$$$
$
$
!"#$%&'()
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ÀQG &99"B/&#>"D
$
$
.0::"9/(<=/3(23"(V=&80:;(W$0%B(0:>=:"(X(-9/=1"(4&=:?(!&9"E00G(Y(2<=//"$
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
0DQ\ IDFWRUV FDQ VDERWDJH D VDOH IURP D VWUXJJOLQJ HFRQRP\ WR D FOXWWHUHG KRPH <RX FDQ·W À[ WKH HFRQRP\ EXW \RX FDQ 93&:C"('0%$(0<:(#"3&1=0$5(/0(=:9$"&5"('0%$(93&:9"5(0A(5%99"55D(KA('0%(G""B(9&>8(=:(/3"(:"C0/=&/=:C(B$09"55?(5"/($"&50:&#>"( 1="<=:C(30%$5?(5/&'(0$C&:=J";(&:;(/=;'?(&:;(8&/93('0%$(908B"/=/=0:65(&5G=:C(B$=9"?('0%(90%>;(5""(&(50>;(5=C:(=:('0%$(A$0:/('&$;D
BS$*6'(#"+T*H%"37]*^%$2$%%$T*9$+T"%. b,*9(!e+)<(: [JKI!T,*<(!G&+< """#&,*9(=+)<(:#%&'
!())*8S$#*8"T(;*2"%*.37$%'"%*.$%-'&$ ,I \RX NQRZ RI VRPHRQH QHHGLQJ JXLGDQFH IRU LQYHVWPHQWV LQ IDUP )+:%27!&)!%&''()%*+,!,(+5(5!&)!(9(:!+6+)1'(:1!*:9(51'(:15i %+,,!.5!"(!$:&"!"2&!*5!12(!/(51!6()5&:!1&!2+:<,(!12(!N&/`!! &DOO (OL]DEHWK +20(
,(+T%(*,&"88 6HQLRU /RDQ 2IÃ&#x20AC;FHU &HOO 55%&11a2&'(1).51#%&'
^&'(1).51!]&)1=+=( T()9*%(!g!H:1(=)*18!g!C).51 2IÃ&#x20AC;FH """#2./%*182&'(,&+:5#%&'
T()9*%(!C*1,(!4&'6+:8 % WK 6WUHHW /XEERFN 7H[DV
,=5=C=B*^$.8*!"+8%") C&<<!X!^(+12()!D+.=2:
2IÃ&#x20AC;FH &HOO )D[
./")#$9"/:(4"$;+/$*+/"$#&),$<=$>")/3
N;*^%"#'.$*8"*`"3= 2,31"4#"-$+,4"5 2,31"4#"-$62.7%8
H%"3+T_X^*A+.7$&8'"+.
5$.8$%+*B'8)$*!"#7(+;
75(&
WK 6WUHHW /XEERFN 7H[DV
IJK=PQI=WVLP
N)&/:(11a1?#:+%2*#&)= IP!2)#!J!<+8!5()9*%(
)D[
N'&S($)*/$%1 M+)'()E5!H:5.)+:%( WK 67 8QLW $ /XEERFN 7H[DV 2IÃ&#x20AC;FH &HOO '/()=Oa;+)'()5+=(:1#%&' ZZZ IDUPHUVDJHQW FRP EHUJ
]eT!]&/*,(!0+52! T6(%*+,`!T6(%*+,` &DU :DVK Z WLUH VKLQH hZK#KK!-!4+)7!C).%$!F(1+*, 689 'HWDLO T('*!C).%$5!hPK#KK!0+52
,'#7);*!)$(+
F(5*=:!L8!G&&
gG(;()(:%(5!B9+*,+/,( 6SHFLDOL]LQJ LQ PRYH LQ RXW
<(5*=:/8)&&a='+*,#%&' """#<(5*=:/8)&&#%&'
^&"!+)(!8&.!)(+%2*:=!6(&6,(U 0+:1!1&!/(!*:!12(!_.//&%$!4&::(%1*&:7!&:!%&.:1,(55!"(/5*1(5!9*("(<!/8!G(+,1&)5!+:<!%&:5.'()5!+5!"(,,!+5!/(!12(! '+*:!)(;()(:%(!6&*:1!;&)!+,,!&.)!/.5*:(55U!!4+,,!@,*A+/(12!;&)! '&)(!*:;&)'+1*&:>!
GS*a;*8S$*\(;===*'2*;"3*0+"\*"2*."#$"+$*\S"*\"3)T*(77%$&'(8$* #;*.$%-'&$.Z*&())*#$*\'8S*8S$'%*+(#$*(+T*+3#a$%Z* (+T*A*\'))*a$*S(77;*8"*S$)7*8S$#=
BS$*6'(#"+T*H%"37*!3%%$+8*D'.8'+1. _*51(:!1&!)(%&)<(<!6)&6()18!*:;&)'+1*&:!/8!%+,,*:= *M=III=UVW=VKIK!!X!(:1()!6)&6()18!%&<(!f
PJMP*QI8S*,8%$$8 /XEERFN 7H[DV $SSUR[ 6T )W
YKVZJJJ UWMU*D";")(*C-$ /XEERFN 7H[DV $SSUR[ 6T )W
X@6?E*!G@BEC!B 3URSHUW\ &RGH
3URSHUW\ &RGH
PIJK*ML8S*,8%$$8 /XEERFN 7H[DV $SSUR[ 6T )W
YMIWZJJJ 3URSHUW\ &RGH
UMMM*UQ%T*,8%$$8 /XEERFN 7H[DV $SSUR[ 6T )W
KWJI*IL8S*,8%$$8 /XEERFN 7H[DV $SSUR[ 6T )W
\+1*&:+,!T.)9(8>!!5((!12(!,*:$!1&!12(!;.,,!5.)9(8!&:!&.)!"(/-5*1(> """#)*:=12(<*+'&:<5#%&' *A.*8S$*C#$%'&(+*6%$(#*"2*>"#$"\+$%.S'7*T$(T*"%*CDA9?F
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
,GD6[[
YKWZJJJ 3URSHUW\ &RGH
!"#'+1*.""+[[ UJQJ*KQ%T*,8%$$8 WPUU*QU+T*,8%$$8 UIJV*LI8S*,8%$$8 /XEERFN 7H[DV $SSUR[ 6T )W
YMJJZJJJ 3URSHUW\ &RGH
QPMW*KI8S*6%'-$ /XEERFN 7H[DV $SSUR[ 6T )W
,Q WKH ODVW GD\V WKH WUDIÃ&#x20AC;F WR RXU ZHEVLWH KDV LQFUHDVHG E\ B'87!!C2(!F*+'&:<!e)&.6E5!"(/5*1(!56(%*+,*51!'+$(5!12*:=5!2+66(:`!!0(! %+:!'+$(!12*:=5!2+66(:!"2(:!5(,,*:=!8&.)!2&'(!1&&# 25 ,) <28 .12: !5&'(&:(!12+1!:((<5!1&!5(,,!&)!/.87!2+9(!12('!%+,,!'(!1&<+8!+:<!H!"*,,!/(! =,+<!1&!<&!+!]+)$(1!B:+,85*5!;&)!12('!+:<!=*9(!12('!12(!)*=21!*:;&)'+1*&:! +:<!<&!12(!)*=21!'+)$(1*:=!1&!5(,,!12(*)!2&.5(`!! &DOO (OL]DEHWK +20(
B,12&.=2!'+:8!&;!1&<+8E5!8&.:=!+<.,15!%+'(!&;!+=(!<.)*:=!12(!2&.5*:=!%)+527! PRUH WKDQ RQH LQ IRXU VD\ WKHLU YLHZV RQ RZQLQJ D KRPH KDYH EHFRPH PRUH SRVLWLYH RYHU WKH SDVW VL[ PRQWKV :LWK RI \HDU ROG UHQWHUV +56*)*:=!1&!/(!2&'(&":()57!12*5!:("!=(:()+1*&:!&;!/.8()5!"*,,!,*$(,8!6,+8!+! %).%*+,!)&,(!*:!51+/*,*A*:=!1&<+8E5!.:%()1+*:!)(+,!(51+1(!'+)$(1#
YMUVZWJJ 3URSHUW\ &RGH
"""#)*:=12(<*+'&:<5#%&'
gC+$(:!;)&'!C).,*+#%&'g
!
!
!
!
!
!
!"##$%&'()*!"%+$% !!
"""#$"%&''()%*+,-,.//&%$#%&' ,$%-'&$.*
0*12!30!4&''()%*+,!56(%*+,*5157!8&.!2+9(!+!:(1"&)$!&;!1+,(:1(<!+:<!%&''*11(<!6(&6,(!+,,!"&)$*:=!1&"+)<5!+!%&''&:!=&+,>!5.%%(55!;&)!8&.)!/.5*:(55#!!0(!.5(!&.)!*:<*9*<.+,!(?6()1*5(7!%&'/*:(<!"*12!+%%(55!1&! '+)$(1!*:1(,,*=(:%(!12+1!;("!%&'6+:*(5!%+:!'+1%2!1&!2(,6!8&.!+%2*(9(!+:<!5.)6+55!8&.)!/.5*:(55!=&+,5# !30!4&''()%*+,!6)&9*<(5!*:1(=)+1(<!)(+,!(51+1(!5()9*%(5!;&)!%,*(:15!*:!9*)1.+,,8!+:8!'+)$(1!"&),<"*<(#
/$*)""0'+1*2"%*#"%$*2%"#*"3%*4$))$%*5'))'(#.*!"##$%&'()*6$7(%8#$+8* *
9()$+8'+$:.*6(;*<(&8.===
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ÁRZHU RI 9HQXV WKH 5RPDQ JRG<(55!&;!,&9(#! 5HG URVHV DUH FRQVLGHUHG WKH ÁRZHU RI ORYH EHFDXVH WKH FRORU UHG 51+:<5!;&)!51)&:=!)&'+:1*%!;((,*:=5#! PLOOLRQ VWHPV RI URVHV DUH VROG LQ WKH 8 6 RQ 9DOHQWLQH·V F+8#! &DOLIRUQLD SURGXFHV SHUFHQW RI $PHULFDQ URVHV EXW WKH JUHDWHU QXPEHU VROG RQ 9DOHQWLQH·V 'D\ LQ WKH 8QLWHG 6WDWHV DUH LPSRUWHG '&51,8!;)&'!T&.12!B'()*%+# $SSUR[LPDWHO\ PLOOLRQ URVHV PRVWO\ UHG ZLOO EH VROG DQG <(,*9()(<!"*12*:!12(!12)((-<+8!D+,(:1*:(E5!F+8!1*'(!6()*&<#! VC+$(:!;)&'!52($:&"5#%&'W
H""$;*/388$%*!(0$*E$&'7$ H:=)(<*(:15!X!F*)(%1*&:5> &DNH RXQFH SDFNDJH RI \HOORZ FDNH PL[ O!(== WDEOHVSRRQV EXWWHU PHOWHG Y)(2(+1!&9(:!1&!Z[K!<(=)((5!M# 4&'/*:(!12(!%+$(!'*?7!(==7!+:<!/.11()-!'*?!"(,,!"*12!+:!(,(%1)*%!'*?()#!Y+1!12(!'*?WXUH LQWR WKH ERWWRP RI D OLJKWO\ JUHDVHV E\ LQFK EDNLQJ SDQ 3UHSDUH ÀOOLQJ M*,,*:=> RXQFH SDFNDJH RI FUHDP FKHHVH VRIWHQHG I!(==5 O!1(+56&&:!9+:*,,+ WDEOHVSRRQV EXWWHU PHOWHG RXQFH ER[ SRZGHUHG VXJDU FXSV
@,*A+/(12 H:!+!,+)=(!/&",7!/(+1!12(!%)(+'!%2((5(!.:1*,!5'&&12#!!B<<!12(!(==57!9+:*,,+7!+:<!/.11()!+:<!/(+1!1&=(12()#!!\(?17!+<<!12(!6&"<()(<!5.=+)!+:<!'*?!"(,,#!!T6)(+<!&9()!%+$(! /+11()!+:<!/+$(!;&)!PK!1&![K!'*:.1(5#!]+$(!5.)(!:&1!1&!&9()!/+$(!+5!12(!%(:1()!52&.,<! /(!+!,*11,(!=&&(8# <LHOG WR VHUYLQJV Y)(6()+1*&:!1*'(>!ZK!'*:.1(5 4&&$*:=!1*'(>!PK!'*:.1(5 @+5(!&;!6)(6+)+1*&:>!(+58
!"&.,<!,*$(!1&! ^+9(!+!)(%*6(!8&. !! /&%$!4&::(%1*&:U 52+)(!*:!C2(!_./ T(:<!*1!1&!.5`! a$"#%&' 12(<*+'&:<=)&.6
M.:!M+%15!&:!_bD@## ,Q DGGLWLRQ WR WKH 8QLWHG 6WDWHV 9DOHQWLQH·V 'D\ LV FHOHEUDWHG LQ &DQDGD 0H[LFR 8QLWHG .LQJGRP )UDQFH $XVWUDOLD 'HQ'+)$7!+:<!H1+,8#! 7KH PRVW IDQWDVWLF JLIW RI ORYH LV WKH 7DM 0DKDO LQ ,QGLD ,W ZDV /.*,1!/8!].=2+,!@'6()&)!T2+2N+2+:!+5!+!'('&)*+,!1&!2*5!"*;(# ! (YHU\ 9DOHQWLQH·V 'D\ WKH ,WDOLDQ FLW\ RI 9HURQD ZKHUH 6KDNH56(+)(E5!,&9()5!G&'(&!+:<!c.,*(1!,*9(<7!)(%(*9(5!+/&.1!O7KKK! ,(11()5!+<<)(55(<!1&!c.,*(1#! $ERXW RI SHW RZQHUV ZLOO JLYH 9DOHQWLQH·V 'D\ JLIWV WR WKHLU 6(15#!
IJK=LLM=>GN?*OPKKQR
!""#$%&"$'()*+,-$./+01
,Q WKH 86 SHUFHQW RI PHQ GR QRW PDNH SODQV LQ DGYDQFH IRU +!)&'+:1*%!D+,(:1*:(E5!F+8!"*12!12(*)!5"((12(+)15#! VC+$(:!;)&'!52($:&"5#%&'W
B'8
! @,*A+/(12!,&9(5!2()!%+)(()`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bGTd!:+1*&:"*<(# @,*A+/(12!*5!'+))*(<!1&!G&=()!+:<!2+5!+!"&:<();.,!5&:7!B,+*:#!!B,+*:!*5!+:! HQJLQHHULQJ VWXGHQW DW 7H[DV 7HFK 8QLYHUVLW\ DQG LV D SURXG 5HG 5DLGHU ,Q KHU VSDUH WLPH (OL]DEHWK OLNHV WR UHDG DQG VWXG\ *HQHDORJ\ <RX FDQ ÀQG 2()!"&)$*:=!&:!6*%1.)(5!+:<!;+'*,8!2*51&)8!*:!2()!56+)(!1*'(#!!@,*A+/(12!*5! YHU\ DFWLYH LQ RXU FRPPXQLW\ DQG ÀUPO\ EHOLHYHV VKH RZHV KHU FRPPXQLW\ D 6+8/+%$!;&)!+,,&"*:=!2()!1&!/(!+!5.%%(55;.,!/.5*:(55"&'+:#!T2(!*5!+!'('/()!&;!C2(!0(51!C(?+5!].5(.'!B55&%*+1*&:!+:<!(:N&85!2(,6*:=!%2*,<)(:! +%2*(9(!12)&.=2!12(!+)15!+:<!5%*(:%(5#
]((1!B'8`!!B'8!"&)$5!+5!C2(!F*+'&:<!e)&.6E5!%&''*11(<!! ! +55*51+:1#!!B;1()!(?6()*(:%*:=!+!)(1+*,!5(11*:=7!B'8!*5!(?%*1(<!! ;&)!+!:("!%2+,,(:=(!+:<!)(+<8!1&!=+*:!(?6()*(:%(!;)&'!12(!! ! /(51!*:!12(!G(+,!@51+1(!!!H:<.51)8`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