Florida State University Libraries

Similar documents
LOWELL WEEKLY JOURNAL

an;'. Union One aud lnsopftrabls.'' LOWELL. MICflTGAN, WKDM SDAV, MAY I I is: LOW.NATIONAL 1>AXK ullv tn , ,800.

. ^e Traveler in taesnok. i the IHilty.-^ifStiiart. BbUaaoa aad WalL.""ras 'crossing a mountain»h ch w e are A«ply inteiwted. Add

ADDITIONS TO MAINTENANCE BUILDINGS DELGADO COMMUNITY COLLEGE 615 CITY PARK AVE. NEW ORLEANS, LA PROPOSAL SET


Class 8 Factorisation

SSSf. 2 Were Killed' RepresentnUvesrl

Homework 1/Solutions. Graded Exercises

". :'=: "t',.4 :; :::-':7'- --,r. "c:"" --; : I :. \ 1 :;,'I ~,:-._._'.:.:1... ~~ \..,i ... ~.. ~--~ ( L ;...3L-. ' f.':... I. -.1;':'.

jfljjffijffgy^^^ ^--"/.' -'V^^^V'^NcxN^*-'..( -"->"'-;':'-'}^l 7-'- -:-' ""''-' :-- '-''. '-'"- ^ " -.-V-'.'," V'*-irV^'^^amS.

Triangles. Exercise 4.1

Assignment. Name. Factor each completely. 1) a w a yk a k a yw 2) m z mnc m c mnz. 3) uv p u pv 4) w a w x k w a k w x

1. (a) 10, 5, 1, 0, 2, 3 (b) 12, 5, 3, 0, 3, 10 (c) 7, 3, 1, 2, 4, 10 (d) 31, 21, , 21, 41

SCOUT DIRECTOR. %$*r' III uiun yunuinui TONIGHT FOR WORK. Newuk Ctititetut- Admission SO Centg. ef Mlit UHt. Oae Asmsar Riy Pretest Three Ranbtn

Euler E842: An Introduction to Natural Science, Establishing the Fundamentals..., from his Opera Postuma. Translated from German by E.

0# E % D 0 D - C AB

LOWKLL. MICHIGAN. WKDNKSDAV. JUNK is, IS7I. M ' M r. F. n. v j. 1,(1 W . NATIONAL BANK I I P ' O F L O W E L L.

Australian Intermediate Mathematics Olympiad 2014

2007 Pascal Contest (Grade 9)

Introduction to Simulation - Lecture 5. QR Factorization. Jacob White. Thanks to Deepak Ramaswamy, Michal Rewienski, and Karen Veroy

Expanding brackets and factorising

Allocating Public Goods via the Midpoint Rule

LOWELL WEEKLY JOURNAL.

1 r. Published on 28 January Abstract. will be discussed period Recently frequency jumps

Chapter y. 8. n cd (x y) 14. (2a b) 15. (a) 3(x 2y) = 3x 3(2y) = 3x 6y. 16. (a)

Brucker Landslide, Wins by 130,000

INVERSION IN THE PLANE BERKELEY MATH CIRCLE

HANOI OPEN MATHEMATICAL COMPETITON PROBLEMS

The Assignment Axiom (Hoare)


Lesson Rigid Body Dynamics

Trader Horn at Strand This Week

Republic of tlre Ph?lippines OEPARTMENT OF EDUCATION

"Full Coverage": Vectors

2 tel

Approach Curve COMSOL Report File

PLUMBING SYMBOLS LEGEND

LOWELL WEEKLY JOURNAL

Some Basic Logic. Henry Liu, 25 October 2010

Appendix A Stability Analysis of the RS Solution

AMS526: Numerical Analysis I (Numerical Linear Algebra)

On a class of three-variable inequalities. Vo Quoc Ba Can

T h e C S E T I P r o j e c t

HANOI OPEN MATHEMATICS COMPETITON PROBLEMS

^ :" j ' ^ ' ' 7 ' . irnoere admh^dn. In tosea his. i^ll ^ A^ik A A 4 A A> t-y 1/ I t/ f ^ . «*^ :" -". n"oat"pt) A T JJi -t-vxa.

B.Sc. MATHEMATICS - II YEAR

MATH 423 Linear Algebra II Lecture 28: Inner product spaces.

The Behaviour of the First-Order Density Matrix at the Coulomb Singularities of the Schrödinger Equation

GCSE. Edexcel GCSE Mathematics A 1387 Paper 5525/05. Summer Edexcel GCSE. Mark Scheme (Results) Mathematics A 1387.

12 16 = (12)(16) = 0.

Engineering Mechanics Statics

Math 10 - Unit 5 Final Review - Polynomials


Day 66 Bellringer. 1. Construct a perpendicular bisector to the given lines. Page 1

Raquel Prado. Name: Department of Applied Mathematics and Statistics AMS-131. Spring 2010

/,!, W l *..il.'tn. INDEPENDENT AI.L THINUS. NKUTRAI. NOTHINfi" LOWELL, MICH 10AN,.FANUAKY, 5, WHOLE NO. 288.

ISBN , 2015

I M P O R T A N T S A F E T Y I N S T R U C T I O N S W h e n u s i n g t h i s e l e c t r o n i c d e v i c e, b a s i c p r e c a u t i o n s s h o

Class IX Chapter 6 Lines and Angles Maths. Exercise 6.1. In the given figure, lines AB and CD intersect at O. If

Local Chapter. Mr raised the que stion of what is ad't. deliver the s, nnun. You are cor- c Mr 1 n d. "P**"' iropiie.

A DARK GREY P O N T, with a Switch Tail, and a small Star on the Forehead. Any

2008 Pascal Contest (Grade 9)

ON DIVISION ALGEBRAS*

ktmuwii INDEPENDENT IN Al.t THINCIS. NEUTRAL IN NOTHING* Sold at Cast. AI.GE" IS DKVI). Lowell's Bright Boy Stricken With Small Pox at Manila.

Class IX Chapter 6 Lines and Angles Maths

L bor y nnd Union One nnd Inseparable. LOW I'LL, MICHIGAN. WLDNHSDA Y. JULY ), I8T. liuwkll NATIdiNAI, liank

Beechwood Music Department Staff

Advanced Radiology Reporting and Analytics with rscriptor vrad results after 10 million radiology reports


and u and v are orthogonal if and only if u v = 0. u v = x1x2 + y1y2 + z1z2. 1. In R 3 the dot product is defined by

Chapter 7 Introduction to vectors

GEOMETRY UNIT 1 WORKBOOK. CHAPTER 2 Reasoning and Proof

ANSWERS. CLASS: VIII TERM - 1 SUBJECT: Mathematics. Exercise: 1(A) Exercise: 1(B)

LESSON 6.2 POLYNOMIAL OPERATIONS I

QUADRATIC RESIDUE CODES OVER Z 9

review To find the coefficient of all the terms in 15ab + 60bc 17ca: Coefficient of ab = 15 Coefficient of bc = 60 Coefficient of ca = -17

Kent Co. Received Red Cross Service Abundantly in ' 4 9 E

Lesson. Warm Up deductive 2. D. 3. I will go to the store; Law of Detachment. Lesson Practice 31

external to the region of interest image charges

CHAPTER 2 BOOLEAN ALGEBRA

PiXL Pre Public Examination, June 2016, 3H, Edexcel Style Mark Scheme

CSE 20: Discrete Mathematics

THE WORLD BANK GROUP ARCHIVES PUBLIC DISCLOSURE AUTHORIZED

HIGHER-ORDER THEORIES

II&Ij <Md Tmlaiiiiiit, aad once in Ihe y a w Teataa m i, the vmb thatalmta oot Uiaapirit world. into as abode or wotld by them- CooTBOtioa

!" # $ : & ' ( )!" #

2013 Canadian Senior Mathematics Contest

1) Exercise 1 In the diagram, ABC = AED, AD = 3, DB = 2 and AE = 2. Determine the length of EC. Solution:

2011 Cayley Contest. The CENTRE for EDUCATION in MATHEMATICS and COMPUTING. Solutions. Thursday, February 24, (Grade 10)

2002 AIME The solutions to the system of equations. log 225 x + log 64 y = 4 log x 225 log y 64 = 1 ...

EXAM INFORMATION. Radial Distribution Function: B is the normalization constant. d dx. p 2 Operator: Heisenberg Uncertainty Principle:

Barycentric coordinates

STANLEV M. MOORE SLAIN IN COLORADO

CBSE Class IX Mathematics Term 1. Time: 3 hours Total Marks: 90. Section A

Maharashtra State Board Class X Mathematics - Geometry Board Paper 2016 Solution

! -., THIS PAGE DECLASSIFIED IAW EQ t Fr ra _ ce, _., I B T 1CC33ti3HI QI L '14 D? 0. l d! .; ' D. o.. r l y. - - PR Pi B nt 8, HZ5 0 QL

Udaan School Of Mathematics Class X Chapter 10 Circles Maths

= Find the value of n.

) ) = γ. and P ( X. B(a, b) = Γ(a)Γ(b) Γ(a + b) ; (x + y, ) I J}. Then, (rx) a 1 (ry) b 1 e (x+y)r r 2 dxdy Γ(a)Γ(b) D

GEOMETRY OF THE CIRCLE TANGENTS & SECANTS

Transcription:

Florida State University Libraries Electronic Theses, Treatises and Dissertations The Graduate School 2009 Understanding Electronic Music: A Phenomenological Approach Megan Fogle Follow this and additional works at the FSU Digital Library. For more information, please contact lib-ir@fsu.edu

"#$%&'()*(*+,-&.+%)&*/ 0$##+1+$"2,)&0,-'+%)*(-'&-1+#+0*%$-&02,)&03(45+-$2+-$#$1&0(# (44%$(05 67 2+1(-"$1#+ ('899:;<=<8>?9@AB8<<:C<><D: 0>EE:F:>G2@98H 8?I=;<8=EG@EG8EEB:?<>G<D: ;:J@8;:B:?<9G>;<D:C:F;::>G '>H<>;>G4D8E>9>ID7 ':F;::(K=;C:C3 )I;8?F):B:9<:;LMNNO

*D:B:BA:;9>G<D:0>BB8<<::=II;>P:<D:'899:;<=<8>?>G2:F=?">FE:>?2=;HDQRL MNNOS TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT +P=?U>?:9 4;>G:99>;'8;:H<8?F'899:;<=<8>? TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT %@99:EE2S'=?H7 $@<98C:0>BB8<<::2:BA:; TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT U=?:48I:;0E:?C8??8?F 0>BB8<<::2:BA:; TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT 2=;VW8?F=<: 0>BB8<<::2:BA:; *D:1;=C@=<:)HD>>ED=9P:;8G8:C=?C=II;>P:C<D:=A>P:?=B:CH>BB8<<::B:BA:;9S 88

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` RZZ 68AE8>F;=ID7 R[R 68>F;=ID8H=E)V:<HD R[Z 888

8P #&)*$"*(6#+) QSR#=7:;9>G9>@?C ZY QSM)@A\:H<9;:9I>?9:9<>9>@?C ZO

#&)*$""&1,%+) QSR#89<:?8?F9H>;:G>;)(>'"#$"%(,%';#'"'?;,='@&'23;="%'7"=*(;# :`H:;I<_>I:?8?F>Ga5:;.>8H:b [Q QSM#89<:?8?F9H>;:G>;7/&(#8'$3,'9".83(#8'"#5':;15,#:`H:;I< [[ QSQ#89<:?8?F9H>;:G>;<=,/(+"#'2/(*$&+3:`H:;I< YN QSX#89<:?8?F9H>;:G>;)*;#$"#,;.%'7;=@.%$(;#:`H:;I< YZ QSZ#89<:?8?F9H>;:G>;A;+$./#,BC;.@1,%':`H:;I< YY QS[#89<:?8?F9H>;:G>;23,'4(15'-.11:`H:;I< ON XSR#89<:?8?F9H>;:G>;$<<>#@:?8?Fc9"#$"%&'(#')*"+, OY XSM#89<:?8?F9H>;:G>;4=@E8?:$E8P:;>9c9-&,'-&,'-.$$,/01& RNQ XSQ#89<:?8?F9H>;:G>;2>;<>?)@A><?8HVc923,'4(15'-.11_4=;<( RRR XSX#89<:?8?F9H>;:G>;(??=%@A8?c97/&(#8'$3,'9".83(#8'"#5':;15,# RMR XSZ#89<:?8?F9H>;:G>;*;:P>;W89D=;<c9<=,/(+"#'2/(*$&+3 RQQ XS[#89<:?8?F9H>;:G>;%8HD=;C':P8?:c92,$/"5 RXZ P

(6)*%(0* *>C=7H>BI>9:;9D=P:=P=;8:<7>G9>@?C9=<<D:8;C89I>9=E=?CK8<D<D: =CP=?H:B:?<9>G<:HD?>E>F78<89?>K>?C:;<D=<H>BI>9:;9K>@EC<@;?<>:E:H<;>?8H B:=?9G>;I;>C@H8?FB@98HS5>K:P:;L<D89E:=P:9<D:E89<:?:;K8<D@?B=II:C<:;;=8?9>G 9>@?CL;8HD8?H>BIE:`8<7L=?CH=EE9G>;?:KE89<:?8?F9<;=<:F8:98?>;C:;<>A:F8?<> @?C:;9<=?CD>K:E:H<;>?8HI8:H:9aK>;VSb*D89C899:;<=<8>?I;:9:?<9=ID:?>B:?>E>F8H=E =II;>=HD<>=?=E7d8?F:E:H<;>?8HB@98HA78?H>;I>;=<8?F<D::`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`IE=8?9D>K<D:E89<:?:;H=?8?H>;I>;=<:<D89<7I:>G=?=E7<8H=E =II;>=HDLKD8HD8?HE@C:98?P:9<8F=<8?FG=H<>;9<D=<H=@9:<D:E89<:?:;<>9:FB:?<B@98H=E :P:?<9S*D:<D8;CHD=I<:;C89H@99:9<D:8C:?<8G8H=<8>?>G9>?8H:P:?<9L=?CC8P8C:9<D:B 8?<><K>B=8?H=<:F>;8:9_:P:?<9<D=<8?H>;I>;=<:<D:=9I:H<>G=.%(D.,'+;#+/E$,L 8?HE@C8?F<D:P>8H:L<;=C8<8>?=E8?9<;@B:?<9L=?CG>@?C>A\:H<9=99>@?C9>@;H:9L=?C :P:?<9<D=<=;:C:;8P:CI@;:E7A7:E:H<;>?8HB:=?9S*D89HD=I<:;I;>P8C:9A;8:G=?=E79:9 >G9:E:H<:CK>;V9<D=<8EE@9<;=<:P=;8>@9K=79H>BI>9:;9:BIE>79>?8H:P:?<9<D=<G=EE 8?<><D:<K>B=8?H=<:F>;8:9B:?<8>?:CS*D:G>@;<DHD=I<:;I;>P8C:9H>BIE:<:=?=E79:9 >G98`K>;V9B:?<8>?:C8?<D:I;:P8>@9HD=I<:;L8EE@9<;=<8?FD>K<D:E89<:?:;H=?8C:?<8G7 9>?8H:P:?<9LH=<:F>;8d:<D:BL=?CH;:=<:=E89<:?8?F9H>;:LKD8HD8?<@;?=8C98? 8?P:9<8F=<8?F<D:G>;B=E9<;@H<@;:>G<D:K>;VS*D:G8?=EHD=I<:;>GG:;9F:?:;=E H>?HE@98>?9;:F=;C8?F:E:H<;>?8HK>;V9A=9:C>?<D:=?=E79:9I;:9:?<:CS P8

&-*%$',0*&$- &?<D:<K:?<8:<DH:?<@;7LH>BI>9:;9:BA;=H:C=?:?>;B>@9P=;8:<7>G H>BI>98<8>?=EI;>H:C@;:9=?C9>@?C9H=I:9L=?C9>B:;:\:H<:C<D:I;8?H8IE:9>G<>?=E 9<;@H<@;:=?CC:98F?S(9=;:9@E<L<D:9H>I:>Ga=;<B@98HbH=?D=;CE7A:8?P>V:C>; H>?H:8P:C8?98?F@E=;<:;B9S(E<D>@FDK:=;:G>;<@?=<:<>E8P:8?=?=EEe:?H>BI=998?F B@98H=E:;=L<D::P>E@<8>?=;7I=<DB@98HD=9<=V:?I;:9:?<9<D:E89<:?:;K8<D=HD=EE:?F:_ D>K<>H>BI;:D:?C<D89H>BIE:`K:A>GB@98HL=?C9I:H8G8H=EE7D>K<>@?C:;9<=?C<D: E89<:?:;c9:`I:;8:?H:>G8?C8P8C@=EI8:H:9K8<D8?9@HD=P=9<A>C7>GE8<:;=<@;:SW8<D<D: =CP=?H:B:?<9>G<:HD?>E>F7L8<K=9G>;:9::=AE:<D=<H>BI>9:;9K>@EC@<8E8d:H>BI@<:;9 =?CB=HD8?:9<>H;:=<::E:H<;>?8HB@98HS*D:H>BI>9:;9c@9:>G:E:H<;>?8H9=EE>K9=?:K P=;8:<7>G9>@?C9<>A:H;:=<:C=?C@9:CL8?HE@C8?F9>@?C9<D=<H>@ECA:C::B:Ca?>89:Lb =?C<D:9:9>?8H:P:?<98?<@;?A:H>B:G@?C=B:?<=EB@98H=E:E:B:?<9K8<D8?= H>BI>98<8>?S/:<LD>KH=?<D:E89<:?:;C89H@99<D:9::E:B:?<98?=B@98H=EH>?<:`<f5>K H=?9HD>E=;9:`=B8?:B@98HK8<DE8B8<E:999>?8HI>998A8E8<8:9=?CKD>9:a9H>;:bB8FD< >?E7:`89<=9:E:H<;>?8H=EE79<>;:CC=<=>;=a9:998>?bf*D:I@;I>9:>G<D:I;:9:?<I;>\:H< 89<>:`IE>;::E:H<;>?8HB@98HG;>B=?:`I:;8:?<8=EI:;9I:H<8P:8?>;C:;<>C89H>P:;= K>;Vc99<;@H<@;:=?CG>;BS(E<D>@FD<:HD?>E>F7>GG:;9@9=P=9<?@BA:;>GA:?:G8<9L @?C:;9<=?C8?F<D:<:HD?8H=EE=?F@=F:>G:E:H<;>?8HH>BI>98<8>?9H=?A:C8GG8H@E<=?C?>< =EK=79;:E:P=?<<><D:B@98H=E:`I:;8:?H:S*D:;:G>;:L<D:G>H@9D:;:89>?<D:G8?89D:C I;>C@H<LKD=<>?:D:=;9=?CI:;D=I9K=79<D:E89<:?:;+;.15>;%3;.15'D:=;=I8:H:>G :E:H<;>?8HB@98H8?>;C:;<>B=V:9:?9:>GD>K8<aK>;V9Sb +E:H<;>?8HB@98H89=F:?;:<D=<A;:=V9C>K?B@98H=EA=;;8:;9=?CH=EE9G>;=?:K B@98H=EC89H>@;9:S&?>;C:;<>C:P:E>I=H>D:98P:B:<D>C>E>F7=IIE8H=AE:<>:E:H<;>?8H B@98HL<D:B@98HB@9<A::`IE>;:C8?=EE8<9H>BIE:`8<7L=99:998?F?><>?E78<9H>?<:?<A@< =E9>8<9B@98H=E8BI=H<S(?=?=E7<8H=E=II;>=HD<>:E:H<;>?8HB@98H9D>@EC=E9>8?P>EP:=? 8?P:9<8F=<8>?>G<D:H>BI>9:;c9=?C<D:I8:H:c9D89<>;8H=EA=HVF;>@?C8?>;C:;<>=8C8? @?C:;9<=?C8?F<D:H>BI>98<8>?c9H>?<:?<S*D:E89<:?:;K8EE?::C<>@?C:;9<=?CKD=<K=9 =?CK=9?><<:HD?>E>F8H=EE7=P=8E=AE:<><D:H>BI>9:;98?H:>P:;<D:I=9<98`<77:=;9>; 9>L:E:H<;>?8HB@98HD=9C:P:E>I:CH>?98C:;=AE7C@:<><D:=CP=?H:B:?<9>G<:HD?>E>F7S R

+=;E8:;:E:H<;>?8HB@98HH>BI>9:;99I:?<C=79L:P:?K::V98?<D:9<@C8>LI:;D=I9H@<<8?F =?C9IE8H8?F<=I:>;K=8<8?FG>;<D:H>BI@<:;<>H>BI@<:F8P:?8?G>;B=<8>?L8?>;C:;<> I;>C@H:>?:9?8II:<>G=H>BI>98<8>?LKD8E:<>C=7c9H>BI>9:;9D=P:=P=;8:<7>G H>BI@<:;I;>F;=B9=?CH>BI>98<8>?=EC:P8H:9=<<D:8;G8?F:;<8I9;:=C7<>I;>C@H:= 9>@?C8?=B=<<:;>G9:H>?C9K8<D<D:HE8HV>G=B>@9:S*D:9>@?CI=E:<<:=P=8E=AE:<><D: H>BI>9:;D=9F;>K?<>P=9<I;>I>;<8>?9L=?C=9=;:9@E<LE89<:?:;9?::C<>:BIE>7= C8GG:;:?<=II;>=HD<D=?<D:7K>@EC8?E89<:?8?F<>B@98HG>;B>;:H>?P:?<8>?=EG>;H:9S &?=CC8<8>?L:E:H<;>?8HB@98HC>:9?><9@FF:9<=I=;<8H@E=;=?=E7<8H=EB:<D>CG>; C:9H;8A8?F8<9H>?<:?<=?C9<;@H<@;:S&?=?=;<8HE:G>H@98?F>?+CF=;C.=;g9:c9?;E=,' F1,+$/;#(D.,G#=K;:?H:":;;=;=?><:9La2=?78G?><B>9<<D:>;:<8H=E979<:B9>GB@98H=E =?=E7989A;:=VC>K?KD:?=?=<<:BI<89B=C:<>=IIE7<D:B<>=<>?=E=?C:E:H<;>?8H B@98HSb R *D:;:89?>@?8P:;9=EB:<D>C>E>F7=9<D:;:89G>;<D:=?=E7989>G<>?=ED=;B>?7L G>;8?9<=?H:S*D:=?=E79<K>@EC@9:<K:EP:e<>?:=?=E7989<>=?=E7d:<D:B@98H>G )HD>:?A:;FL=G<:;ROMXLA@<?><<D=<>G6:E=6=;<hVS(E89<:?:;<>=?:E:H<;>?8H H>BI>98<8>?H>@EC8?P>V:=EE<D:=?=E7<8H=EI;>H:C@;:9<D:7V?>K>;D=P:E:=;?:CLA@< 9@HD=II;>=HD:9B=7?><A:=IIE8H=AE:S&?=?=;<8HE:G>H@98?F>?<D:=?=E7989>G :E:H<;>?8HB@98HL6;@?>6>99899<=<:93 (979<:B=<8HB:<D>C>E>F7G>;<D:=?=E7989>G:E:H<;>=H>@9<8HB@98HD=97:<<>A: C:P89:CS)@HD=B:<D>C>E>F7K>@ECE:=C<>=B>;:I;:H89:P898>?>G<D89H>;I@9 =?CK>@EC:?H>@;=F:<D:G>;B@E=<8>?>GF:?:;=ED89<>;8H=E=?C=:9<D:<8H I;>I>98<8>?9LA@<=H:;<=8??@BA:;>G9I:H8G8H8<8:9D=P:D8?C:;:C<D89;:9:=;HDS M *D:D8?C;=?H:9<D=<6>9989E89<9=;:a<D:=A9:?H:>G=I:;H:8P:C8?9<;@B:?<=E<7I>E>F7b i8s:s=?8bb:?9:9>@?ci=e:<<:8?kd8hd<d:9>@;h:>g=9>@?cb=7a:@?v?>k?j=?ca<d: I;>AE:B>G;:I;:9:?<=<8>?bi8S:S?><=<8>?jS Q "@;<D:;B>;:LF8P:?<D:P=;8:<7>G9>?8H=?C 97?<=H<8H>I<8>?9=P=8E=AE:<><D:H>BI>9:;98?<D:<K:?<8:<DH:?<@;7L8<B=7?><A: >AP8>@9KD:<D:;>;?><<>=IIE78?D:;8<:C=?=E7<8H=EB:<D>C>E>F8:9<>:E:H<;>?8HB@98HS )>B:=?=E79:9>G9<=?C=;C;:I:;<>8;:G>H@9>?<D:I=;=B:<:;>GI8<HD?:=;E7<><D: :`HE@98>?>G=EE><D:;B@98H=EI=;=B:<:;9S(9>?:B8FD<9@9I:H<LH>?H:?<;=<8>?>?I8<HD R #=K;:?H:":;;=;=La4D:?>B:?>E>F7=9=*>>EG>;2@98H=E(?=E7989Lb23,'H.%(+"1'I."/$,/1&YNkQ i)@bb:;lro]xj3qz]s&?<d89=;<8he:":;;=;=9i:h8g8h=ee7=cc;:99:9=id:?>b:?>e>f8h=ei:;h:i<8>?>g.=;g9:c9?;e=,'f1,+$/;#(d.,s M 6;@?>6>9989La*D:(?=E7989>G+E:H<;>=H>@9<8H2@98H3G;>B)>@;H:9<>&?P=;8=?<9LbJ/8"#(%,5');.#56' <#'K#$,/#"$(;#"1'L;./#"1';0'H.%(+'2,+3#;1;8&RRkMiMNN[j3RNQS Q (@(5MLRNQS M

=E>?:8?=I8:H:>G:E:H<;>?8HB@98H89I;>AE:B=<8H98BIE7A:H=@9:I8<HDB=7?><=EK=79 A:C89H:;?=AE:L=98?<D:H=9:>G<>?:HE@9<:;9L8?D=;B>?8H8<7L=?Ck>;?>89::E:B:?<9G>@?C K8<D8?<D:K>;VS(9*;:P>;W89D=;<?><:93 &?<D899>?8H9I=H:L<;=C8<8>?=EH=<:F>;8:9=?CD8:;=;HD8:9>GB@98H=EI=;=B:<:;9 A;:=VC>K?S&?I=;<8H@E=;Ll<8BA;:cm:99:?<8=EE7=?@BA;:EE=<:;BG>;=EE<D>9: G:=<@;:9>G9>@?C9?><H=I<@;:C8?<;=C8<8>?=E?><=<8>?L8?HE@C8?F9<=<8>?=;7 9I:H<;=L9I:H<;=EHD=?F:9LG>;B=?<9<;@H<@;:9LG>;B=?<HD=?F:9LP8A;=<>k<;:B>E> =?C<D:8;:P>E@<8>?LF;=8?8?:99L\8<<:;L:<HSmI;>P8C:9=B@E<8C8B:?98>?=E=;:?=8? KD8HDI8<HD?:9989A@<>?:C8B:?98>?S X (9=;:9@E<L<D:F:?;:>G:E:H<;>?8HB@98H=EE>K9<8BA;:=?C<D:@9:>G%;#(+',N,#$%<>?>K<=V:I;8>;8<7>P:;I8<HDS(9>?8H:P:?<89a=?79>@?C>;9>@?CeH>?G8F@;=<8>?KD8HD89 I:;H:8P:C=9=I;8B=;7B@98H=E@?8<m=98?F@E=;=@;=EF:9<=E<Sb Z ':H8ID:;8?F=?C 8C:?<8G78?F<D:9>?8H:P:?<9K8<D8?=H>BI>98<8>?=EE>K9<D:E89<:?:;<>H=<=E>F=?C C:<:;B8?:<D:9<;@H<@;=E;:E=<8>?9D8I>G<D:B@98H=EB=<:;8=E8?<D:B@98HS W8<D=?7?:KF:?;:>GB@98HH>B:9<D:8?D:;8<:C899@:>G@?C:;9<=?C8?F=?:K B@98H=EE=?F@=F:S$?:@9:G@EI;:H:C:?<89I;>P8C:CA7<D:K;8<8?F9>GU=B:9*:??:7S589 H,$"'nO;5;%9I:H8G8H=EE7=8B9<>HD=EE:?F:>@;K=7>G<D8?V8?F=A>@<=?CE89<:?8?F<> <K:?<8:<DeH:?<@;7B@98H8?F:?:;=ES*:??:79<=<:93 *D:8?H;:=9:C=@;=EH>BIE:`8<7>GB@HD>G<D:B@98H>G<D:<K:?<8:<DeH:?<@;789 9@HD=?:P8C:?<HD=;=H<:;89<8H<D=<8<9D>@EC?::C?>C:B>?9<;=<8>?S-:P:;<D:E:99L =?:`=B8?=<8>?>G<D:B=?7G=H<>;9KD8HDI;>C@H:<D89H>BIE:`8<7L=?C9>B:>G 8<9:GG:H<98?>@;I:;H:I<8>?>G<D:B@98HLK8EEA:?:H:99=;7A:G>;:K:H=?D>I:<> C:9H;8A:<D:B@98H=EB=<:;8=E98?=;:=EE7B:=?8?FG@EK=7S*D:H>BIE:`8<789?>< B:;:E7>G9<;@H<@;:LA@<=E9>>G%.@%$"#+,S*D=<89L8<89?><98BIE7<D:;:9@E<>G=?:K=;;=?F:B:?<>G<;=C8<8>?=EB=<:;8=E9>;:E:B:?<9S*D::E:B:?<9<D:B9:EP:9 3"N,'+3"#8,5L=?C<D:HD=?F:9=GG:H<?><>?E7<D:B@98H=E9<;@H<@;:LA@<>@;K=7 >GE89<:?8?F<><D:B@98H=9K:EES [ &<89HE:=;<D=<*:??:789I=;<8H@E=;E7H>?H:;?:CK8<DD>KE89<:?:;9=;:<>=<<:?C<>=B@98H <D=<H>?<=8?9=H:;<=8?=B>@?<>GH>BIE:`8<7S*D89H>BIE:`8<789;:GE:H<:C?><>?E78?<D: >;F=?8d=<8>?>GB@98H=E:E:B:?<9A@<=E9>8?>@;@?C:;9<=?C8?F>GKD=<H>BI;>B89:9= B@98H=E:E:B:?<8?<D:G8;9<IE=H:A:H=@9:<D:7D=P:HD=?F:CS">;8?9<=?H:L:=HDI8<HD X *;:P>;W89D=;<La)>?8H0>BI>98<8>?8?2;#8.,%';0'(/,GP7;=*.$,/'H.%(+'L;./#"1MXkMi)@BB:;L MNNNj3MQS Z U=B:9*:??:7LH,$"'Q'O;5;%6'<'?3,#;=,#;1;8&';0'2R,#$(,$3S7,#$./&'H.%(+"1'H"$,/("1%'"#5'"#' <**/;"+3'$;'$3,')$.5&';0';/=T'"#5'HU2<'H,$"'Q'O;5;%i5=?>P:;L-53";>F4:=V2@98HLROOMj3MQS [ (@(5MLXSi:BID=989B8?:j Q

H>?<=8?:CK8<D8?=<>?:HE@9<:;B=7?><A:=@;=EE7C89<8?F@89D=AE:L<D:;:G>;:<D:HE@9<:;89 I:;H:8P:C=9=9<;@H<@;:CKD>E:S Y "@;<D:;B>;:L9>@?C9=;:?>E>?F:;;:9<;8H<:C<><D>9:>G <;=C8<8>?=EP>H=Ek8?9<;@B:?<=EG>;H:9LA@<<D:7H=?=E9>A:H;:=<:C:E:H<;>?8H=EE7HD=?F8?F <D:B=V:@I>GH>BI>98<8>?9C;=9<8H=EE7S*:??:7G@;<D:;?><:93 *D::E:B:?<=EA@8EC8?FeB=<:;8=E9>Go<K:?<8:<DeH:?<@;7pB@98H=;:?>E>?F:; E8B8<:C<>=.%(+"1'$;#,LA@<B=78?HE@C:><D:;LB>;:H>BIE:`9>@?C9q*D: 9@A9<=?H:=?CB=<:;8=E>G<D89B@98H899>@?C_<D89C:G8?8<8>?898?:9H=I=AE:_=?C8< 89>G9:H>?C=;78BI>;<=?H:KD:<D:;<D89B=<:;8=E898?<D:G>;B>G=<>?:K8<D HE:=;E7C:G8?:CI8<HDL>;>G<D:D8FDE7H>BIE:`=?C8?C:G8?8<:E7eI8<HD:C9>@?C>G= H7BA=ES(?79>@?CB8FD<>HH@;=<9>B:I>8?<8?=I8:H:>GB@98HLK8<D=G@?H<8>? <D:;:<D=<89P8;<@=EE78?C:I:?C:?<>G<D:H>?9<8<@<8>?>;9<;@H<@;:>G<D:9>@?C 8<9:EGLA:8?FC:<:;B8?:C8?9<:=CA7<D:E=;F:;B@98H=EH>?<:?<8?KD8HD8<>HH@;9S ] &?9<:=C>GG>H@98?F>?=B:E>C8HE8?:L=B><8P:L>;=D=;B>?8HI;>F;:998>?L>@;=<<:?<8>? H=?H:?<:;>?8?C8P8C@=E9>?8H:P:?<9>G9<;@H<@;=E8BI>;<=?H:K8<D8?=H>BI>98<8>?S (II;>=HD8?FB@98H8?<D89B=??:;89I=;<8H@E=;E7A:?:G8H8=EG>;8?P:9<8F=<8?F:E:H<;>?8H B@98HL98?H:<D:9>@?CI=E:<<:=P=8E=AE:<><D:H>BI>9:;89P8;<@=EE7E8B8<E:99=?C:=HD 8?C8P8C@=EI8:H:K8EEH>?<=8?8<9>K?@?8J@:I;>F;:998>?>GB@98H=E:E:B:?<9S "@;<D:;B>;:L<D:H;8<:;8=A7KD8HDK:I:;H:8P:=9>?8H:P:?<8?>?:I8:H:>GB@98HLB8FD<?><A:<D:9=B:8?=?><D:;I8:H:L:P:?B@98HA7<D:9=B:H>BI>9:;S 2@98H8?KD8HD9>?8H:P:?<9L;=<D:;<D=?<D:<;=C8<8>?=E=9I:H<9>GI8<HD=?Ck>; ;D7<DBL=H<=9B@98H=EI=;=B:<:;9;:J@8;:99:FB:?<8?F=?C>;F=?8d8?F<D:9::P:?<9 I:;H:I<@=EE78?>;C:;<>:9<=AE89DC89H;:<::P:?<9K8<D8?<D:B@98H=E<:`<@;:S0>?9:J@:?<E7 <D:E89<:?:;?>K=9V9<D:J@:9<8>?9LaWD=<89=9>?8H:P:?<f5>KH=?&9:FB:?<<D:9: :P:?<9f(?CKD=<B=V:9=?:P:?<C8GG:;:?<G;>B=?><D:;fb$?H:<D:E89<:?:;D=9=G8;B F;=9I>G<D:9>?8H:P:?<9<D=<H>BI;89:<D:B=V:e@I>G=H>BI>98<8>?<D:?<D:E89<:?:; H=?9<=;<<>C;=KH>??:H<8>?9=9<>D>K<D>9:9>?8H:P:?<9G@?H<8>?K8<D8?<D:E=;F:; 9<;@H<@;:>G<D:K>;VS->?:<D:E:99L8<C:I:?C9>?KD=<B@98H=EI=;=B:<:;9L>;=9'=P8C)S #:GV>K8<d=?C^;89<8?*==P>E=H=EEa'>B=8?9LbH>BI;89:=H>BI>98<8>?S Y (HH>;C8?F<>*:??:7La*D:HE:=;:9<:`=BIE:9>G9@HDH>BIE:`9>@?Ce:E:B:?<9=;:<>?:eHE@9<:;9=?C><D:; D8FDE7C:?9:=?CC899>?=?<HD>;C9q9>@?Ce9<;@H<@;:9KD8HD9::B;:E=<8P:E7a>I=J@:b<><D::=;S)@HD HD>;C9H=??><@9@=EE7A:=?=E7d:CA7<D::=;8?<>H>?9<8<@:?<<>?:9L=?C&<D8?V<D:7=;:?><8?<:?C:C<>A: 9>=?=E7d:CS*D:7=;:9:EC>B9@A\:H<<>D=;B>?8H>;8:?<=<8>?LA:H=@9:>?:c9I:;H:I<8>?>GI8<HD8?<D:9: C:?9:9>@?CeH>BIE:`:989E8B8<:CL=<A:9<L<><D:I8<HD>G<D:8;D8FD:9<>;E>K:9<<>?:9L>;<>=B:=?I8<HDe E:P:ELKD:??>B>;:<D=?<D:=II;>`8B=<:;=?F:=?C;:F89<:;>G<D:HD>;C9H=?A:;:H>F?8d:CSb*:??:7L[S ] *:??:7LYe]S X

W:H>?98C:;<D:<D:>;7=<>>EG>;<D8?V8?F8?B@98H_E89<:?8?FLI:;G>;B8?FL =?=E7d8?FL=?CH>BI>98?Fr8<A;:=V9B@98H@I8?<>=?=E7d=AE:HD@?V9L8<D:EI9 :P=E@=<:<D:K=7'>B=8?98?<:;=H<K8<D:=HD><D:;L=?C8<I;>P8C:9?:KK=79>G <D8?V8?F=A>@<B@98H8?F:?:;=ES O *D:8?<:;?=EH>?<:`<=?C9H>I:>G=?8?C8P8C@=E:E:H<;>?8HH>BI>98<8>?;:P:=E9KD=<V8?C9 >GB@98H=E:E:B:?<9=;:8?P>EP:C8?@?C:;9<=?C8?F<D:I8:H:G;>B=9<;@H<@;=EI:;9I:H<8P:S *D:;:G>;:L<D:E89<:?:;K8EE?::C<>G>H@9>?H>BI;:D:?C8?F<D:H>?<:?<>G=?8?C8P8C@=E H>BI>98<8>?8?>;C:;<>=?9K:;<D:G>;:F>8?FJ@:9<8>?9S(CC8<8>?=EE7LKD:?E89<:?8?F<> =?7<7I:>GB@98HLK8<DI:;D=I9<D::`H:I<8>?>GB>?>ID>?8HB@98HL<D:;:=;:B@E<8IE: E=7:;9>G9>@?C<D=<>?:H=?I:;H:8P:C:I:?C8?F>?D>K<D:E89<:?:;c9=<<:?<8>?89 C8P8C:CS&?<D:9:H=9:9LC89H@998?F<:`<@;=EE=7:;9H=?HE=;8G7<D:;:E=<8P:I;>B8?:?H:>G P=;8>@99>?8H:P:?<9=?CD>K<D:7G@?H<8>?8?\@`<=I>98<8>?K8<D8?=?:E:H<;>?8H H>BI>98<8>?S,?C:;9<=?C8?FD>K<D89F:?;:>GB@98HK>;V9;:E8:9>?<D:G;=B:K>;V>G<D: B@98H8<9:EG<>F@8C:8?=?8?P:9<8F=<8>?>G9>?8H:P:?<9L98?H::=HDH>BI>98<8>?K8EED=P: 8<9>K?@?8J@:>;F=?8d=<8>?>G9>?8H:P:?<9S&?<D89E8FD<L<D:E89<:?:;@<8E8d:9D89>;D:; >K?I:;H:I<8>?>G<D:H>BI>98<8>?8<9:EGL8?H>;I>;=<8?F=*3,#;=,#;1;8(+"1=II;>=HD<> <D:B@98HS(ID:?>B:?>E>F8H=E=II;>=HDP8:K9B@98H=9=ID:?>B:?>?LKD8HD 8?H>;I>;=<:9<D:E89<:?:;c9=@;=EH>BI;:D:?98>?>G<D:B@98H8?J@:9<8>?S(HH>;C8?F<> U@C8<D#>HDD:=C3 (lid:?>b:?>?c89<d:g>h@9>g9>b:>?:c9:`i:;8:?h:s*d:9<=<:b:?<ll&9::<d: HD=8;cB:=?9l&I:;H:8P:<D:HD=8;c>;l&=B:`I:;8:?H8?F<D:HD=8;c>;l&=B :`I:;8:?H8?F<D:ID:?>B:?>?>G<D:HD=8;Sc*D@9L9>B:>?:c9:`I:;8:?H:>G= HD=8;C:I:?C9?><>?<D:H>F?8<8P:H=I=A8E8<8:9>G<D:9@A\:H<KD>D=9<D: :`I:;8:?H:?>;>?<D:=<<;8A@<:9>G<D:HD=8;LA@<;=<D:;>?<D:<D8?F>G:`I:;8:?H: =?C<D:K=7<D=<<D8?F89:`I:;8:?H:CA79>B:>?:S RN *D:;:G>;:L<D89=II;>=HD;:E8:9>?=?:`I:;8:?<8=EI:;9I:H<8P:>G=I8:H:>GB@98H=?C @<8E8d8?FKD=<89I:;H:8P:CA7<D:E89<:?:;<>8?<:;I;:<9<;@H<@;=E=9I:H<9>G<D:K>;VS 2@98H>G=?7V8?C8BIE8:9C8GG:;:?<B:=?8?F9L98F?8G8H=<8>?9L=?C8?<:;<:`<@=E G8?C8?F9G>;:P:;7<7I:>GE89<:?:;LKD:<D:;7>@=;:=?=?=E79<LI:;G>;B:;LH>BI>9:;L O '=P8C)S#:GV>K8<d=?C^;89<8?*==P>E=La):FB:?<=<8>?8?2@98H31:?:;=E8d8?F=48:H:e):?98<8P: (II;>=HDLbL;./#"1';0'H.%(+'23,;/&XXkRi)I;8?FLMNNNj3RYMS RN U@C8<D#>HDD:=CLa)>B:2@98H=E(IIE8H=<8>?9>G4D:?>B:?>E>F7LbK#5("#"'23,;/&'V,N(,RQkQiROYOj3 ROS Z

B@98H8=?L>;?>?eB@98H8=?S*D:8?GE@:?H:>G=E89<:?:;c9>K?9>H8=ELH@E<@;=ELD89<>;8H=EL A8>F;=ID8H=EL=?Ck>;:C@H=<8>?=EA=HVF;>@?C=E9>9D=I:9D89kD:;8?<:;I;:<=<8>?>G<D: B@98HS"@;<D:;B>;:L<D:H>BI>9:;>G<D:K>;V8<9:EGB=7=E9>A;8?FD89kD:;>K? 8?<:?<8>?9>GB@98H=EB:=?8?F9G>;<D:E89<:?:;L=E<D>@FD<D=<C>:9?><?:H:99=;8E7B:=? <D:8?<:?<8>?K8EEA:;:=E8d:CS0>?9H8>@9E7>;9@AH>?9H8>@9E7L=?CKD:<D:;>;?><= H>BI>9:;=CB8<9<>=?@?C:;E78?FB@98H=EB:=?8?F>;A>;;>K8?FL=H@;;:?<:`I:;8:?H: H=?A:8?GE@:?H:CA7=I=9<>;<D::`I:H<=<8>?>G=G@<@;::`I:;8:?H:LKD8HD8?<@;?H>@EC =GG:H<<D:H>BI>98<8>?=EI;>H:99S28HD=:E#S^E:8?c9;:H:?<A>>V<8<E:CK#$,/$,>$."1($&'(#' 4,%$,/#'</$'H.%(+I;>P8C:9P=;8>@9K=79<D=<B:=?8?F=?C8?<:;<:`<H=?A: 8?P:9<8F=<:CS RR.=;8>@9<7I:9>G8?<:;<:`<@=E8<79@FF:9<<D:B9:EP:9SW:B=7H>?H:;?>@;9:EP:9 K8<D\@9<<D>9:<:`<9<D=<=?=@<D>;A;>@FD<<>D:;K;8<8?F=?C9<@C7=*;(,$(+ 8?<:;<:`<@=E8<7SW:B=7H>?H:;?>@;9:EP:9K8<D<D:<:`<9<D=<=9>H8:<7A;8?F9<> 8<9;:=C8?F=?C9<@C7=3(%$;/(+"18?<:;<:`<@=E8<7L>;K:B=7>I:?<D:<:`<<>=EE <8B:=?C9<@C7=$/"#%3(%$;/(+"18?<:;<:`<@=E8<7S*D:8?<:;<:`<9K:B=V:B=7A: K8<D8?=%$&1,>;K8<D8?=+"#;#SW:B=7B=V::GG>;<9<>C:=G:?>@;9:EP:9<><D: B@E<8IE:;:G:;:?H:9>G<:`<<>><D:;9=H;>999<7E:9=?CD89<>;8:9L>;K:B=7;:B=8? =<<:?<8P:<>=?"1,"$;/(+8?<:;<:`<@=E8<7<D=<;>=B9G;::E7=H;>99<8B:S";>B<D: I:;9I:H<8P:>G=?=@<D>;<><D=<>G=;:=C:;LG;>B<D:A>@?C=;8:9>G<D:D89<>;8H=E <><D:A>@?CE:99?:99>G<D:<;=?9D89<>;8H=ELG;>B<D:H>BI:<:?H8:9>G @?C:;9<=?C8?F=9<7E:<><D>9:>G@?C:;9<=?C8?F=H=?>?L<D:K=79<D=<K:C:G8?: =?CH>?G8?:8?<:;<:`<@=E8<7D>ECH>@;<>P:;>@;I:;9I:H<8P:9>?<D:<:`<=?CD>K K:B=V:9:?9:>G8<S)8?H:=9;:=C:;9K:A;8?F<:`<9<>>@;@?C:;9<=?C8?F>G<D: 98?FE:<:`<L9>B:?><8>?>G8?<:;<:`<@=E8<7LD>K:P:;C:G8?:CLB@9<@?C:;I8? :`IE8H8<E7>;8BIE8H8<E7>@;9<;@FFE:<>B=V:B:=?8?F>G=<:`<S RM ->?:<D:E:99=9-8HD>E=90>>V?><:9LC8GG:;:?<B@98H=EB:=?8?F9=?C8?<:;I;:<=<8>?9C>?><8BIE7=;A8<;=;7;:=C8?F9>GK>;V9S #8V:=E8<:;=;7>;B@98H=E<:`<L=I><>;=I8H<@;:C>:9?><98BIE7D=P:B:=?8?F A@8E<8?<>8<L\@9<K=8<8?F<>A:C89H>P:;:CSq(?7I><>;I8H<@;:D=9=?8?C:G8?8<:L <D>@FD?><8?C:G8?8<:L?@BA:;>GID798H=E=<<;8A@<:9L=?C:=HD9>H8:<7B=V:98<9 >K?9:E:H<8>?G;>B=?C8?<:;I;:<=<8>?>G<D>9:=<<;8A@<:9Sq*D:B:=?8?F<D=<<D: >A\:H<=HJ@8;:9K8<D8?=I=;<8H@E=;H@E<@;:89<D@99@II>;<:CA7m=?C=<<D:9=B: <8B:D:EI9<>9<=A8E8d:m<D:9I:H8G8H9:E:H<8>?>GG=<<;8A@<:9KD8HD<D=<H@E<@;:D=9 RR ):P:;=E=@<D>;9D=P:K;8<<:?:`<:?98P:E7>?<D:9@A\:H<>GB@98H=EB:=?8?F=?C8?<:;<:`<@=E8<7L A>;;>K8?FG;>BE8<:;=;7H;8<8H9i8?I=;<8H@E=;5=;>EC6E>>BjL=?C8?H>;I>;=<8?F<D:C89H8IE8?:9>G9:B8><8H9L D:;B:?:@<8H9L=:9<D:<8H9L=?C?=;;=<8P8<7S$?:H=?G8?C:`<:?98P:K>;V>?<D:9@A\:H<A7%>A:;<5=<<:?L ^>G8(F=K@LU>9:ID-S)<;=@9L=?C=9?><:CL28HD=:E#S^E:8?L=B>?F><D:;9S RM 28HD=:E#S^E:8?LK#$,/$,>$."1($&'(#'4,%$,/#'</$'H.%(+i6E>>B8?F<>?3&?C8=?=,?8P:;98<74;:99LMNNZj3 RMS [

B=C:r8<D:EI9<>B=V:<D:>A\:H<KD=<8<(%G>;<D=<H@E<@;:S&?<D89K=7LKD8E: B:=?8?F899>H8=EE7H>?9<;@H<:CL8<89A><D:?=AE:C=?CH>?9<;=8?:CA7<D: =P=8E=AE:=<<;8A@<:9>G<D:>A\:H<S RQ WD8E:C8GG:;:?<8?<:;I;:<=<8>?9H=?A:B=C:=A>@<=I8:H:>GB@98H=?C8?9<8EEC8GG:;:?< :`I:H<=<8>?9=?C@?C:;9<=?C8?F9G>;><D:;E89<:?:;9L8<89<D:9:C8GG:;:?<8?<:;I;:<=<8>?9 <D=<=EE>K@9<>>I:?=C8=E>F@:=A>@<<D:B@98HS*D:;:9@E<9A:?:G8<=EEE89<:?:;98G:=HD 8?<:;I;:<=<8>?L:P:?8G8?>II>98<8>?LH>B:9<>F:<D:;<>G>;B=E=;F:;LK:EEe;>@?C:C :`I:;8:?H:G>;<D:E89<:?:;S0>>VH>?<8?@:9<>?><:La*D:B=<:;8=E<;=H:9>GB@98H9@II>;< =;=?F:>GI>998AE:B:=?8?F9L=?C<D:7H=?A:<D>@FD<>G=9A@?CE:9H>BI;89:C>G=? 8?C:G8?8<:?@BA:;>G=<<;8A@<:9G;>BKD8HDC8GG:;:?<9:E:H<8>?9K8EEA:B=C:K8<D8? C8GG:;:?<H@E<@;=E<;=C8<8>?9L>;>?C8GG:;:?<>HH=98>?9>G8?<:;I;:<=<8>?9Sb RX &?=CC8<8>?L +E8d=A:<D5:EEB@<D2=;F@E899<=<:93 #89<:?8?F<>B@98H89=H>BIE:`=?CB@E<8C8B:?98>?=E:`I:;8:?H:S2=?7C8GG:;:?< B>C:9>G:?F=F:B:?<=;:I>998AE:r=I:;9>?H=?E89<:?H=9@=EE7L=<<:?<8P:E7L I;=FB=<8H=EE7L:B><8>?=EE7S(HH>;C8?FE7L<D:<7I:9>GI;:C8H<8>?<D=<H=?A:B=C: 8?;:9I>?9:<>B@98H=;:H>BIE:`=?CB@E<8C8B:?98>?=ESq'8GG:;:?<B>C:9>G :?F=F:B:?<:E8H8<C8GG:;:?<V8?C9>GI;:C8H<8>?9S RZ 6:H=@9:C8GG:;:?<B>C:9>GE89<:?8?F=?CC8GG:;:?<:`I:;8:?H:9k8?<:;I;:<=<8>?9>GB@98H =;:I>998AE:L8<898BI>;<=?<<>=CC;:99<D:J@:9<8>?>GKD=<<D:I@;I>9:>GE89<:?8?F89 <=V:?<>A:K8<D8?<D:H>?<:`<>G<D89I;>\:H<SW:K8EE9::V<>@?C:;9<=?C<D:G8?=E I;>C@H<mKD=<<D:E89<:?:;K8EE3,"/m>G:E:H<;>?8HK>;V9G;>B=P=;8:<7>GH>BI>9:;9L ;=?F8?FG;>B:=;E7K>;V9<>B>9<;:H:?<L=?CK:K8EE=E9>I;>I>9:=?8?8<8=E=II;>=HD<> 8C:?<8G78?F9>?8H:P:?<9=?C9<;@H<@;=E=9I:H<9>G<D:K>;V9G;>B<D:E89<:?:;c9 I:;9I:H<8P:S*D:I@;I>9:>G<D:@IH>B8?F=?=E79:989?><<>8BI>9:=I=;<8H@E=; 8?<:;I;:<=<8>?@I>?E89<:?:;9>G:E:H<;>?8HB@98HL=E<D>@FD8<K8EEA:I;:9:?<LA@<8?9<:=C<> K:EH>B:C8GG:;:?<;:=C8?F9>G<D:9:K>;V9L=?C>GG:;B7>K?=9=I:;9>?=ED:=;8?FS*D: F>=E89<>=HD8:P:=C::I:;@?C:;9<=?C8?F>G<D89F:?;:>GB@98HLKD8HD89I:;D=I99<8EE 7>@?F:?>@FDG>;8?C8P8C@=ED:=;8?F9<>A:I>998AE:L:P:?KD:?I=;<8H@E=;9>@?C9>; H>?G8F@;=<8>?9>G9>@?C9B8FD<9::BP:;7G=B8E8=;<><D:E89<:?:;L>;:P:?P:;79<;=?F:S RQ -8HD>E=90>>VLa*D:>;8d8?F2@98H=E2:=?8?FLbH.%(+'23,;/&')*,+$/.=MQkMi(@<@B?LMNNRj3RY]eRYOS RX (@(5MLRYOS RZ +E8d=A:<D5:EEB@<D2=;F@E89La)@;I;89:=?C#89<:?8?F(D:=C3(?=E7<8H=E+?F=F:B:?<9K8<D2@98H=E *:?C:?H8:9LbH.%(+'23,;/&')*,+$/.=MOkMi"=EELMNNYj3ROYS Y

"@;<D:;B>;:LB=?7:E:H<;>?8HI8:H:9C>?><D=P:=?:`89<8?F9H>;:LKD8HDH;:=<:9 =?8?D:;:?<C8GG8H@E<7KD:?=II;>=HD8?F<D:F:?;:S&?9>B:H=9:9<D:;:B=7A:=9H>;:L A@<8<<7I8H=EE7>?E7;:I;:9:?<9=H=;<>F;=ID8HP8:K>G<D:I8:H:S*D89<7I:>GP8:K 8EE@9<;=<:9>?E7=<K>eC8B:?98>?=E=9I:H<>G<D:I8:H:L@9@=EE7G;:J@:?H7>;=BIE8<@C: P:;9@9<8B:L:`HE@C8?FI=;<8H@E=;E=7:;8?F>G9>@?C=?Ck>;<D:C8P:;98<7>G9>@?C9 I>998AE:K8<D8?=F8P:?I8:H:S(HH>;C8?F<>)8B>?+BB:;9>?La)H>;:9G>; :E:H<;>=H>@9<8HB@98H:`89<L>GH>@;9:LA@<D=P:=P=;8:<7>GG@?H<8>?93G>;I:;G>;B=?H: K8<D8?9<;@B:?<9>;>P:;H>BIE:`E>@C9I:=V:;979<:B9L>;98BIE7G>;;:=C8?F=?C A=HVF;>@?C8?G>;B=<8>?LA@<;=;:E7G>;<D:;:H;:=<8>?>G<D:K>;V8<9:EGSb R[ W8<D>@<= 9H>;:8?G>;B=<8>?9@HD=9<D:8?9<;@B:?<9k9>@?C9L<:BI>i9jL=;<8H@E=<8>?9LI8<HD:9L ;D7<DBL=?CC7?=B8H9<D=<=;::BIE>7:C<D;>@FD>@<=I8:H:=;:?><=II=;:?<S( <;=?9H;8I<8>?H>@ECI;>P8C:=?=II;>`8B=<:F;=ID8HF@8C:<><D:B@98H=EH>?<:?<LA@<8< K>@EC?><=HH>@?<G>;<D:H>BIE:`9>@?C9S->K<D:E89<:?:;=CC9<><D:I;:P8>@9E89<>G J@:9<8>?9LaWD=<=;:<D:9>@?C9A:8?F:BIE>7:Cf5>KH=?&8C:?<8G7<D:BfWD=<<7I:9 >GB=?8I@E=<8>?9>G<D:9:9>@?C9=;:<=V8?FIE=H:f(?C@E<8B=<:E7LD>K=;:<D:9>@?C9 >;F=?8d:CK8<D8?<D:B@98H=EH>?<:`<fb*D:E=HV>G=9H>;:B:=?9<D=<=P89@=E?><=<8>? <D=<H>;;:9I>?C9<><D:=@;=E89?><=P=8E=AE:r<D:;:G>;:<D:=@;=E=9I:H<>G<D:B@98H A:H>B:9<D:B=8?I;>P8C:;>G=?7B@98H=E8?G>;B=<8>?<D:E89<:?:;I:;H:8P:9S &?=MNNY=;<8HE:L6;8=?(E:F=?<<:9<9D899<@C:?<9c=A8E8<7<>=?=E7d:9>?=<=G>;B B>P:B:?<99>E:E7A7E89<:?8?F<><D:I8:H:K8<D>@<<D:@9:>G=9H>;:S&?<@;?LD89 ai;8b=;7=8b9=;:<>9<8b@e=<:<d>@fd<=a>@<<d:<>i8h>g=?=e7989k8<d>@<9h>;:l=?c<> 9@FF:9<<D=<8<89A><DI>998AE:=?C;:K=;C8?F<><:=HD<D89I=;<8H@E=;9V8EESb RY (E:F=?< A:F8?9A7?><8?F1=;7)S^=;I8?9V8c98C:=9=A>@<C:P:E>I8?F<D:E89<:?:;9c9V8EES ^=;I8?9V8B=V:9<D;::=99:;<8>?9=A>@<C:P:E>I8?FE89<:?8?F9V8EE93G8;9<L<D=< 9<@C:?<99D>@ECG>H@9>?<D:;:H@;;:?H:>GB><8P8H=?C<D:B=<8HB=<:;8=E9L <:`<@;=EHD=?F:9LD=;B>?8H8?9<=A8E8<7L=?CV:7=;:=9r9:H>?CL<D=<9<@C:?<9?::C<> E89<:?/,*,"$,51&T=?C<D8;CL<D=<<D:9V8EE9F=8?:C<D;>@FD=HJ@8;8?Fa8?<8B=H7 K8<D:P:?>?E7=D=?CG@E>GK>;V9bH=?A:<;=?9G:;;:C<>@?G=B8E8=;;:I:;<>8;:S R] R[ ";>B<D:8?<;>C@H<8>?>G23,'9"#8."8,';0'U1,+$/;"+;.%$(+'H.%(+)8B>?+BB:;9>?L:CSi*D:2=HB8EE=? 4;:99L#<CS3#>?C>?LRO][j3MS RY 6;8=?(E:F=?<La#89<:?,Is*D>@FD<9>?84>C9L)>?=<=">;BL=?C(?=E7989K8<D>@<)H>;:LbL;./#"1';0' H.%(+'23,;/&'?,5"8;8&MRiMNNYj3RXRS R] (@(5MLRXRS ]

WD8E:(E:F=?<=?C^=;I8?9V8=;:G>H@98?F>?<>?=EB@98H=?C9I:H8G8H=EE7=CC;:998?F 9<@C:?<9cE89<:?8?F9V8EE9L<D:9=B:9V8EE9H>@EC=E9>=IIE7<>:E:H<;>?8HB@98HS2>;: 8BI>;<=?<E7L^=;I8?9V8?><:9<D:8BI>;<=?H:>GB@E<8IE:E89<:?8?F9<>G@EE7F;=9I<D: H>?<:?<=?C=9K:EE=9A:8?F=AE:<><;=?9G:;F=8?:CV?>KE:CF:<>9<@C78?F><D:; H>BI>98<8>?9S&?=CC8<8>?L(E:F=?<C:B>?9<;=<:9<D=<=?=E7989>GB@98HC>:9?><=EK=79 H=EEG>;<D:P89@=E=8C>G=9H>;:S *D:=?=E7<8H=E=II;>=HD=IIE8:C8?<D89I;>\:H<;:E8:9>?=?:`I:;8:?<8=E I:;9I:H<8P:A78?P:9<8F=<8?F<D:9:FB:?<=<8>?=EI;>H:99>G9>?8H:P:?<9L=?C<D:P=;8>@9 I:;H:I<@=EE=7:;9>G<D:9::P:?<9KD:?=IIE8H=AE:LK8<D8?=H>BI>98<8>?8?>;C:;<>;:P:=E D>K<D:7G@?H<8>?>;C>?><G@?H<8>?<>F:<D:;S7;#+,#$/"$,5'1(%$,#(#8L8?<:?C:C<> 8EE@9<;=<:<D:9<;@H<@;:=?CG>;B>G=I8:H:P8=I:;H:I<8>?L=EE>K9<D:E89<:?:;<>=CC;:99=EE >G<D:I;:P8>@9J@:9<8>?9I;:9:?<:C=?C:?=AE:9<D::`I:;8:?H:>G<D:B@98H8<9:EG<> A:H>B:=P8<=E<>>E8?C89H>P:;8?F=I8:H:c99<;@H<@;:S(9*D>B=90E8G<>?9<=<:9La2@98H=E 98F?8G8H=?H:89?><8?<D:G=H<9<D:B9:EP:9LA@<89:`I:;8:?H:C<D;>@FD<D:BSb RO *D:=8B D:;:89<>C:P:E>I=?C8EE@9<;=<:=979<:B=<8H=II;>=HD>GC89H@998?F:E:H<;>?8HB@98H <D;>@FD9:FB:?<=<8>?=?C=@;=EI97HD>E>F8H=EI:;H:I<8>?8?>;C:;<>@?C:;9<=?CD>K<> E89<:?<>=H>BI>98<8>?G;>B<D:F:?;:>G:E:H<;>?8HB@98HS RO *D>B=90E8G<>?La2@98H=?C<D:(4;8>;8LbL;./#"1';0'H.%(+'23,;/&RYkRi)I;8?FLROYQj3YReYMS O

05(4*+%R $.+%.&+W$"+#+0*%$-&02,)&0 "#$%&'$()*#+*&),%-%.#% *D:=CP=?H:B:?<9>G<:HD?>E>F7D=P:9D=I:C<D::P>E@<8>?>G:E:H<;>?8HB@98HS 0>BI>9:;9=;:=AE:<>:`IE>;:=?CH;:=<:?:K9>@?C9LF>8?FA:7>?C<D:E8B8<=<8>?9>G <;=C8<8>?=E8?9<;@B:?<9=?C<D:H=I=A8E8<7>GI:;G>;B:;9S+=;E8:;H>BI>98<8>?9L<>>LK:;: E8B8<:C=9H>BI>9:;9D=C<>8?P:?<>;H>EE=A>;=<:8?<D:I;>C@H<8>?>G<D:<>>E9?:H:99=;7 G>;<D:8;C:98;:CB@98H=E;:9@E<9S(9=;:9@E<LA:G>;:=<<:BI<8?F<>=?=E7d::E:H<;>?8H B@98HL<D:E89<:?:;B@9<G8;9<@?C:;9<=?C<D:F:?;:c9>;8F8?9=?CC:P:E>IB:?<S";>B<D: E=<:ROXNc9L:E:H<;>?8HB@98HH=?A:<;=H:CA=HV<><K>B=8?E>H=E:9_0>E>F?:L 1:;B=?7LKD8HDG>H@9:C>?<D:=:9<D:<8H>GI@;:E7:E:H<;>?8HA=9:CH>BI>98<8>?9V?>K? =9,1,W$/;#(%+3,'H.%(WL=?C4=;89L";=?H:LKD8HDK=9V?>K?G>;<D:=:9<D:<8H>G 8?H>;I>;=<8?F9=BIE:9>GG>@?C9>@?C9H=EE:C=.%(D.,'+;#+/E$,S0:;<=8?G>;B9>G :E:H<;>?8HB@98H=?C8?9<;@B:?<9:`89<:CA:G>;:D=?CLA@<<D:9:<K>H8<8:9K:;:KD:;:<D: :B8?:?<I8>?::;98?<D::E:H<;>?8HB@98HH>BB@?8<7A:F=?K>;V8?FS $?:>G<D::=;E8:9<:E:H<;>?8H8?9<;@B:?<9K=9*D=CC:@90=D8EEc92,13"/=;#(.=G KD8HDK=9G8?89D:C8?RONR=?CK=9=E9>V?>K?=9<D:C&#"=;*3;#,S&<<;=?9B8<<:C B@98H<D;>@FDE>@C9I:=V:;9@98?F:E:H<;8H8<7<>I;>C@H:9>@?CK=P:9P8=<:E:ID>?:E8?:9S &?=<:`<K;8<<:?=A>@<<D:D89<>;7>G:E:H<;>?8HB@98HU>:E0D=C=A:?><:93 o0=d8eec9p8c:=k=9<>a@8ec=?:e:h<;>?8hb@98h97?<d:98d:;sqo&<9p9>@?c9k:;: I;>C@H:CA7H>BA8?8?F98?:K=P:9F:?:;=<:CA7C7?=B>9KD>9:>@<I@<9K:;: E8?V:C<D;>@FD=H>BIE:`9K8<HD8?F979<:BS*D:9>@?C9K:;:D:=;C<D;>@FDD>;?9 =<<=HD:C<><:E:ID>?:;:H:8P:;9G8<<:CK8<D:9I:H8=EE7<D8?C8=ID;=FB9G>;A:<<:; A=99;:9I>?9:S R R U>:E0D=C=A:LU1,+$/(+');.#56'23,'?"%$'"#5'?/;=(%,';0'U1,+$/;#(+'H.%(+Mi4;:?<8H:5=EE3-:KU:;9:7L ROOYj3XS RN

(?><D:;8?9<;@B:?<LKD8HDD=9P:;98>?9<D=<=;:9<8EE8?:`89<:?H:<>C=7L89#:>? *D:;:B8?c99:EGe<8<E:C23,/,=(#GG8;9<C:B>?9<;=<:C8?ROMNS M &<@9:C<K>P=H@@B<@A: >9H8EE=<>;9<>I;>C@H:9>@?CS&?D89A>>VL0D=C=A:C:9H;8A:9<D:8?9<;@B:?<LD>K8<K=9 IE=7:C=?CD>K8<9>@?C9S *D:<D:;:B8?K=9=H=A8?:<=A>@<>?:G>><C::IL:8FD<::?8?HD:9K8C:L=?C=A>@< <K>G::<D8FDLIE=H:C>?=<=AE:>;9<=?CS+B:;F8?FG;>B<D:<>I;8FD<>G<D: H=A8?:<K=9=<D8?P:;<8H=E;>CLKD8HDK=9<D:I8<HD=?<:??=S(E>>IL<D:P>E@B: =?<:??=LK=9B>@?<:CD>;8d>?<=EE7>?<D:E:G<98C:>G<D:H=A8?:<S*D:;:B8? IE=7:C8<A7B>P8?FD89D=?C98?<D:=8;SWD:?D89;8FD<D=?CB>P:CHE>9:;<><D: P>E@B:=?<:??=L8<H=@9:C<D:I8<HD<>F>D8FD:;SWD:?D89E:G<D=?CB>P:CHE>9:; <><D:P>E@B:=?<:??=L8<H=@9:C<D:9>@?C<>F:<9>G<:;S*D:9>@?CK=9 9>B:KD:;:A:<K::?=P8>E==?C=HE=;8?:<L9B>><D=?CE7;8H=EL9>B:<8B:9 ;:B8?C8?FE89<:?:;9>G<D:D@B=?P>8H:S*D:;:B8?E=<:;9=8CLa&H>?H:8P:C>G=? 8?9<;@B:?<<D=<K>@ECH;:=<:9>@?CK8<D>@<@98?F=?7B:HD=?8H=E:?:;F7LE8V:<D: H>?C@H<>;>G=?>;HD:9<;=Sb Q *>C=7<D:E89<:?:;H=?G8?CP=;8>@9C:B>?9<;=<8>?9>G*D:;:B8?IE=78?F>?<D:&?<:;?:<L 8?HE@C8?F<D:G=B>@9*D:;:B8?IE=7:;L0E=;=%>HVB>;:S X &?ROM]L2=@;8H:2=;<:?><c9 J#5,%'H"/$,#;$K=9G8;9<C:B>?9<;=<:C=<<D:4=;89$I:;==?C=E9>@9:C>9H8EE=<>;9<> F:?:;=<:9>@?CS(F=8?L0D=C=A:?><:93 o2=;<:?><pi:;g>;b:co>?<d:8?9<;@b:?<pa78?9:;<8?f=g8?f:;8?=;8?f=?c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c9@9:>G<D:8?9<;@B:?<LKD8HD M *D:6:=HD6>79@9:C=*D:;:B8?8?<D:8;9>?Fa1>>C.8A;=<8>?9bG;>B<D:RO[Y=EA@B)=(1,&')=(1,=?C -8?:&?HD-=8E9D=9C:P:E>I:C<D:8;>K?P:;98>?>G=*D:;:B8?S Q 0D=C=A:L]S X ">;B>;:8?G>;B=<8>?>?<D:*D:;:B8?;:G:;<>D<<I3kk:?SK8V8I:C8=S>;FkK8V8k*D:;:B8?i=HH:99:C NMkNRkNOjS">;P8C:>9>G0E=;=%>HVB>;:;:G:;<>D<<I3kkKKKS7>@<@A:SH>BkK=<HDfPtI)d*41E-=Z,LKD8HD 89=I:;G>;B=?H:>G)=8?<e)=u?9c9a*D:)K=?b>;*HD=8V>P9V7c9.=E9:):?<8B:?<=E:G>@?C=< D<<I3kkKKKS7>@<@A:SH>BkK=<HDfPt\+EXd0v6PMHwG:=<@;:t;:E=<:Ci=HH:99:CNMkNRkNOjS&?ROYY':E>9 &?<:;?=<8>?=E=E9>;:E:=9:C=;:H>;C8?F>G0E=;=%>HVB>;:=HH>BI=?8:CA7-=C8=%:89:?A:;F>?I8=?> <8<E:C23,'</$';0'$3,'23,/,=(#6'71"/"'V;+W=;/,i0'RNRXjS Z 0D=C=A:LRMS RR

8?HE@C:99@HDH>BI>98<8>?9=9J/"(%;#K;8<<:?8?ROQY=?C*@;=?F=ExE=e)7BID>?8: H>BI>9:C8?ROX[eX]S [ (9K8<D<D:*D:;:B8?L<D:;:=;:=E9>P=;8>@9C:B>?9<;=<8>?9>G IE=78?F<D:$?C:92=;<:?><<D=<H=?A:G>@?C>?<D:&?<:;?:<S Y *D:G8;9<H>BB:;H8=EE79@HH:99G@E:E:H<;>?8H8?9<;@B:?<K=9#=@;:?95=BB>?Cc9 ROQZ5=BB>?C:E:H<;>?8H>;F=?S&<K=9K8C:E7@9:C8?;>HVL\=ddLAE@:9L=?CF>9I:E B@98HS&?4:<:;2=??8?Fc9A>>V>?:E:H<;>?8HB@98HLD:?><:93 *D:5=BB>?C$;F=?L=E<D>@FD=B>;:H>?P:?<8>?=E8?9<;@B:?<G;>B<D: I:;G>;B:;c9I>8?<>GP8:KLF=8?:C=;:I@<=<8>?G>;8<9C89<8?H<8P:8G?><:?<8;:E7 =@<D:?<8H9>@?CJ@=E8<7S*D89K=9E=;F:E7C@:<><D:B:<D>C>G<>?:F:?:;=<8>? :BIE>7:CL8?P>EP8?F<D:;><=<8>?>G9@8<=AE7H>?<>@;:CC89H98?=B=F?:<8HG8:EC8? =B=??:;;:B8?89H:?<>G<D:'7?=B>ID>?:S ] *D:5=BB>?C>;F=?;:H;:=<:9=I8I:>;F=?e<7I:9>@?CA7@98?F=CC8<8P:97?<D:989>G K=P:G>;B9G;>B<D:D=;B>?8H9:;8:9SWD8E:<D:8?9<;@B:?<899<8EE8?@9:<>C=7L H>BI>9:;9H=?=E9>8B8<=<:<D:5=BB>?C9>@?CC8F8<=EE7S +=;E8:;8?RORQ=I=8?<:;?=B:C#@8F8%@99>E>LKD>K=9I=;<>G<D:&<=E8=? "@<@;89<B>P:B:?<L8?P:?<:C8?9<;@B:?<9H=EE:C(#$;#"/.=;/(L>;?>89:8?<>?:;9S*D: 9:;8:9>G8?9<;@B:?<9C8P8C:8?<>a98`<8BA;=E<7I:93A>>B9LKD89<E:9LKD89I:;9L9H;:=B9L I:;H@998P:9>@?C9=?CP>H=E9>@?C9iD@B=?=?C=?8B=EjSb O 0D=C=A:?><:9<D=<<D: 8?9<;@B:?<9K:;:aA>`:9>GP=;8>@998d:9L:=HDK8<D=H;=?V8?<D:A=HVL=9>@?Ce F:?:;=<8?FB:HD=?89B8?98C:L=?C=?=BIE8G8H=<8>?D>;?8?G;>?<S(E:P:;B>@?<:C>?<>I >G:=HDA>`LK=9@9:C<>=C\@9<I8<HDSb RN ->?:<D:E:99L%@99>E>c98C:>E>F789>GB>;: 8BI>;<=?H:<D=?<D:=H<@=E8?9<;@B:?<9<D:B9:EP:9LKD8HD@?G>;<@?=<:E7=;:?><8? :`89<:?H:=?7B>;:S(9%>A:;<2>;F=??><:93 "@<@;89B9<=?C98?<D:D89<>;7>G<K:?<8:<DeH:?<@;7B@98H=9<D:G8;9<HE:=; B=?8G:9<=<8>?>G=B=\>;=?C:?C@;8?FH>?H:;?3<D:;:E=<8>?9D8IA:<K::??:K B@98H=?CB>C:;?<:HD?>E>F7S(E<D>@FD<D:"@<@;89<9=II=;:?<E7D=C?>C8;:H< 8?GE@:?H:>?9@A9:J@:?<H>BI>98<8>?=EC:P:E>IB:?<9L<D:8;K89Dl<>H>?J@:;<D: [ (P=8E=AE:;:H>;C8?F9>G<D:H>BI>98<8>?9B:?<8>?:C8?<D89HD=I<:;H=?A:G>@?C8?<D:(II:?C8`S Y ">;B>;:8?G>;B=<8>?;:G:;<>D<<I3kk:?SK8V8I:C8=S>;FkK8V8k$?C:9T2=;<:?><>; D<<I3kkRMN7:=;9S?:<kB=HD8?:9kB=;<:?><kLKD8HD8?HE@C:9=B>;:C:<=8E:CD89<>;7LI8H<@;:9L=?C9>@?CG8E:9 i=hh:99:cnmknrknojs">;=p8c:>i:;g>;b=?h:>g<d:g8;9<b>p:b:?<>g*@;=?f=exe=e)7bid>?8:g:=<@;8?f 48:;;:#=@;:?<(8B=;CL07?<D8=28EE=;L(?C;:K'=P89L=?C<D:-=<8>?=E/>@<D$;HD:9<;=>G1;:=<6;8<=8? ;:G:;<>D<<I3kkKKKS7>@<@A:SH>BkK=<HDfPtRYN.y1">*^Fw-%tRi=HH:99:CNMkNRkNOjS ] 4:<:;2=??8?FLU1,+$/;#(+'"#5'7;=*.$,/'H.%(+MM?C :CSi$`G>;C,?8P:;98<74;:993$`G>;CLROOQj3QS O %>A:;<(S2>;F=?L2R,#$(,$3S7,#$./&'H.%(+6'<'O(%$;/&';0'H.%(+"1')$&1,'(#'H;5,/#'U./;*,'"#5'<=,/(+"M iwsws->;<>?=?c0>bi=?73-:k/>;vlroorj3rr[s RN 0D=C=A:LQS RM

8?G8?8<:P=;8:<7>G?>89:e9>@?CcD=9;:B=8?:C=;:H@;;8?F8?<:;:9<<D;>@FD>@<<D: H:?<@;7S RR +E:H<;>?8HH>BI>9:;9D=P:=K8C:P=;8:<7>G<:HD?>E>F7=<<D:8;D=?C9<>@9:G>;B@98H=E H;:=<8P8<7S(9=;:9@E<L<D:9>@?CI=E:<<:=P=8E=AE:<><D:H>BI>9:;89E8B8<E:99=?C:P:; :`I=?C8?FS6@<?><>?E7D=P::E:H<;>?8HH>BI>9:;9A;>=C:?<D:9>@?CI=E:<<:rH>BI>9:;9 >G<;=C8<8>?=E8?9<;@B:?<9=E9>9<;:<HD:C<D:H=I=A8E8<7>G<D:8?9<;@B:?<9:BIE>78?F :`<:?C:C<:HD?8J@:9=?CHD=EE:?F8?FI:;G>;B:;9S7;/"1,LKD8HDK=9H>BI>9:CA7#@8F8 =?C(?<>?8>%@99>E>8?ROMRL89=?:`=BIE:>G=I8:H:<D=<8?H>;I>;=<:9<D:8?<>?=;@B>;8S *D:I8:H:8?HE@C:9<D:@9:>G=<;=C8<8>?=E>;HD:9<;=A@<8EE@9<;=<:9=?8BI>;<=?< H>BI>98<8>?=EC:P8H:G>@?C8?:E:H<;>?8HH>BI>98<8>?9_9>@?CB=?8I@E=<8>?S&?<D89 I8:H:<D:E89<:?:;D:=;9a?>89:b\@`<=I>9:CK8<D<D:>;HD:9<;=LKD8HDK=;I9>; B=?8I@E=<:9<D:9>@?CS(?><D:;:`=BIE:>G=?:=;E8:;:E:H<;>?8HH>BI>98<8>?89U>D? 0=F:c9K="8(#"/&'9"#5%+"*,'A;M'XK;8<<:?8?ROQOLKD8HD@9:9=?a:E:H<;8H=EA@dd:;L >9H8EE=<>;LF:?:;=<>;KD8?:L=?CH>?<=H<B8H;>ID>?:Sb RM *>C=7<D:<:;B:E:H<;>?8HB@98HB=7=IIE7<>=?7B:=?9>G:E:H<;>?8H=EE7 I;>C@H:CB@98HLKD:<D:;8<89F:?:;=<:CG;>B<D:H>BI@<:;A7@9:>G9>G<K=;:I;>F;=B9L =97?<D:98d:;L=@C8>:C8<>;9L>;C;@BV8<9LG>;:`=BIE:S5>K:P:;L:=;E8:;I;=H<8<8>?:;9>G <D:F:?;:K:;:C8P8C:C?><>?E7A7F:>F;=ID7L0>E>F?:=?C4=;89LA@<=E9>A7 H>BI>98<8>?=E=:9<D:<8HS&?ROX]L<D:";:?HDB=?48:;;:)HD=:GG:;A:F=?K>;V8?F=<<D: %=C8>C8GG@98>?e*:E:P898>?";=?z=89:i%*"jL:`I:;8B:?<8?FK8<D;:H>;C:C9>@?C9=?C H>BI>98?FB@98H<D=<A:H=B:V?>K?=9=.%(D.,'+;#+/E$,S RQ H.%(D.,'+;#+/E$,@<8E8d:9 I;:;:H>;C:C9>@?C9<=V:?G;>B<D::?P8;>?B:?<LKD8HD=;:<D:?:E:H<;>?8H=EE7 B=?8I@E=<:CS*D:9>?8H:E:B:?<99<:B9>E:E7G;>BG>@?C9>@?C=?CH=?;=?F:G;>B<D: D@B=?P>8H:<><D:@9:>G<;=C8<8>?=E8?9<;@B:?<9<>;@9<E8?FE:=P:9<>H=;D>;?9m=?7 ;:H>;C=AE:9>@?C8B=F8?=AE:S(9)HD=:GG:;9<=<:93 RR 2>;F=?LRRYS RM (@(5MLQ[NS RQ (E<D>@FD)HD=:GG:;89V?>K?G>;H>8?8?F<D:<:;B=.%(D.,'+;#+/E$,LI8:H:9>G<D89?=<@;::`89<:C A:G>;:D=?CSW=E<:;%@<<B=??c94;+3,#,#5,GH>BI>9:C8?ROQNL89=?:`I:;8B:?<=EG8EBK8<D>?E7=@C8>S *D:+F7I<8=?A>;?H>BI>9:;L5=E8B:Ee'=ADH>BI>9:C4(/,'V,+;/5,/'?(,+,'8?'ROXXLKD8HDK=9A;>=CH=9< >?<D:;=C8>8?+F7I<S%@<<B=??c9I8:H:89=P=8E=AE:>?<#'<#$3;1;8&';0'A;(%,'"#5'U1,+$/;#(+'H.%(+B'(/%$' <S+3/;#;1;8&'XYZXSZ[[X;:E:=9:C>?)@A%>9=)%RONiMNNMj=?C:Ee'=ADc9I8:H:89=P=8E=AE:>?<#' <#$3;1;8&';0'A;(%,'"#5'U1,+$/;#(+'H.%(+B';./$3'<S+3/;#;1;8&'XY\]SZ[[^;:E:=9:C>?)@A%>9=)%MZN imnn[js RQ

*D89C:<:;B8?=<8>?<>H>BI>9:K8<DB=<:;8=E9<=V:?G;>B=?:`89<8?FH>EE:H<8>?>G :`I:;8B:?<=E9>@?C9L&?=B:=.%(D.,'+;#+/E$,'<>B=;VK:EE<D:IE=H:8?KD8HD K:G8?C>@;9:EP:9L?>E>?F:;C:I:?C:?<@I>?I;:H>?H:8P:C9>@?C=A9<;=H<8>?9LA@<?>K@98?FG;=FB:?<9>G9>@?C:`89<8?FH>?H;:<:E7=?CH>?98C:;:C=99>@?C >A\:H<9C:G8?:C=?CKD>E:S RX )HD=:GG:;c9G8;9<H>BI>98<8>?=99>H8=<:CK8<D<D:<:;B=.%(D.,'+;#+/E$,K=9=? :`I:;8B:?<>G9>@?C<8<E:CU$.5,'".>'73,=(#%'5,/',/i%=8E;>=C)<@C7jH>BI>9:C8? ROX]S*D89I8:H:@9:9;:H>;C:CB=<:;8=E9G;>BE>H>B><8P:9=?C<D:E89<:?:;H=?HE:=;E7 C89<8?F@89D<D:9>@?C9>G<;=8?9=E>?FK8<D<D:B=?8I@E=<8>?9<D=<)HD=:GG:;:BIE>79L 8?HE@C8?FE>>I8?F=?C;:?C:;8?F9>@?C9A=HVK=;C9S &?$H<>A:;>GROX]L)HD=:GG:;I;:9:?<:C<D:7;#+,/$'5,'-/.($%i0>?H:;<>G ->89:9jKD8HDH>?989<:C>GG8P:=.%(D.,'+;#+/E$,9<@C8:9A;>=CH=9<>P:;";:?HD;=C8>S *D:H>?H:;<K=9=9@HH:99LKD8HD:?=AE:C)HD=:GG:;<>:?E89<B@98H=E=9989<=?H:G;>B 48:;;:5:?;7=?CU=HJ@:94>@EE8?S*D:G8;9<B=\>;=.%(D.,'+;#+/E$,H>BI>98<8>?K=9 )&=*3;#(,'*;./'.#'O;==,'),.1L=H>EE=A>;=<8>?A7)HD=:GG:;=?C5:?;78?ROZNS&? ROZR<D:9<@C8>K=9;::9<=AE89D:C=9<D:1;>@I:C:%:HD:;HD:C:2@98J@:0>?H;g<:S WD8E:5:?;7;:B=8?:C=<<D:9<@C8>L)HD=:GG:;9I:?<D89<8B:A:<K::?4=;89=?CC>8?F P=;8>@9I;>\:H<98?->;<D(G;8H=S5>K:P:;L8?ROZY)HD=:GG:;;:<@;?:C<>4=;89=?C5:?;7 E:G<<D:9<@C8>G8?=?H8?F)<@C8>(I9>B:K8<DD89>K?B>?:7S&?ROZ]L)HD=:GG:;=E>?F K8<D#@H":;;=;8L";=?z>89e6:;?=;C2{HD:L28HD:E4D8E8II><L=?C&=??89 :?=V89 :9<=AE89D:C=?:K9<@C8>G;>B9H;=<HDV?>K?=91;>@I:C:%:HD:;HD:92@98H=E89i1%2jS WD:;:=9=.%(D.,'+;#+/E$,8?H>;I>;=<:9<D:8C:=>G@98?FG>@?C9>@?C9=?C <@;?8?F<D:9::P:;7C=79>@?C98?<>B@98HA7H>BI>98?FalA7:=;Lc:`I:;8B:?<8?F=?C H;8<8H=EE7E89<:?8?F<>9>@?C9=?C<D:8;H>BA8?=<8>?9Lb,1,W$/;#(%+3,'H.%(WF;:K>@<>G 9:;8=E89BS RZ (G<:;9<@C78?F8?4=;89L8?ROZM^=;ED:8?d)<>HVD=@9:?A:F=?K>;V8?F8? 0>E>F?:=<W:9<C:@<9HD:;%@?CG@?ViW'%LE=<:;;:?=B:C->;CK:9<C:@<9HD:;%@?CG@?V 8?ROZZjLKD8HDK=9G>@?C:CA75:;A:;<+8B:;<S*D:8C:>E>F7<D=<=IIE8:9<>1:;B=? A=9:C:E:H<;>?8HB@98H>G<D=<I:;8>CK=9<D=<>GaH;:=<8?FI;:H89:L9>?8H;:=E8d=<8>?9>G H>BIE:`9H>;:9LG>;B=EE7:E=A>;=<:C8?=CP=?H:L8?<D:9I8;8<>G<D:9:;8=EB:<D>C9>G H>BI>98<8>?So0>BI>9:;9p8?989<:C>?@98?F>?E7:E:H<;>?8H=EE7I;>C@H:C9>@?C9LKD>9: RX 0D=C=A:LM[eMYS RZ U:=?e0E=@C:%899:<La">;:K>;Cb8?U1,+$/;"+;.%$(+'H.%(+6'<#"1&$(+"1'?,/%*,+$(N,%M*D>B=9#8H=<=L:CS i1;::?k>>c4;:9930>??:h<8h@<lmnnmj3`8ps RX

ID798H=EI=;=B:<:;9H>@ECA:I;:H89:E7H>?<;>EE:CSb R[ U1,W$/;#(%+3,'H.%(WH>?989<:C>G >?E7@98?FI@;:E7C:;8P:C:E:H<;>?8H9>@?C9L=?C8?I=;<8H@E=;=CC8<8P:97?<D:989LKD8HD 8?P>EP:9H>BA8?8?FK=P:G>;B9<>=CCP=;8>@9I=;<8=E9>G<D:>P:;<>?:9:;8:9<>F:<D:;S *D:G8;9<<K>I8:H:9<D=<)<>HVD=@9:?H>BI>9:C=<<D:9<@C8>LH;:=<:CG;>B>?E798?: K=P:9LK:;:)$.5(,'K'=?C)$.5(,'KKK;8<<:?8?ROZQ=?CROZX;:9I:H<8P:E7S 5>K:P:;8?ROZZL<D:C89<8?H<8>?A:<K::?<D:9:<K>=:9<D:<8H9>G:E:H<;>?8HB@98H A:F=?<>A;:=VC>K?K8<D)<>HVD=@9:?c9H>BI>98<8>?:,%"#8'5,/'L_#81(#8,GKD8HD :BIE>79<D::E:B:?<>G=.%(D.,'+;#+/E$,A7@98?F=9=BIE:>G=7>@?FB=E:c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d8>?8&<=E8=?:i%(&jS(G<:;D:=;8?F= H>?H:;<>G:E:H<;>?8H<=I:I8:H:9A7$<<>#@:?8?F=?C.E=C8B8;,99=HD:P9V78?<D:,?8<:C)<=<:98?ROZML6:;8>C:P:E>I:C=?8?<:;:9<8?<D:8;B@98H=?C9<=;<:C=G;8:?C9D8I K8<D<D:H>BI>9:;9S&?ROZQL6:;8>B:<2=C:;?=LKD>K>;V:C8?1:;B=?7L=?C<D:7 A:F=?C:P:E>I8?F)<@C8>C8">?>E>F8=S*D899<@C8>G@9:C<D:<K>=:9<D:<8H9>G:E:H<;>?8H B@98HS(9*D>B=9#8H=<=?><:9Lao&?<D899<@C8>p<D:C89<8?H<8>?9A:<K::?<D: H>BI>98<8>?=E=:9<D:<8H9>G=.%(D.,'+;#+/E$,=?Cl:E:H<;>?8HB@98HcK:;:G@;<D:;:;>C:CL 8G?><<D>;>@FDE7C89H=;C:CSb R] 2>;:>P:;L>?:G8?C98?<D:D89<>;7>G:E:H<;>?8HB@98H<D=< =E<D>@FDP=;8>@9H=BI9>GH>BI>98<8>?=E9<7E:9K:;::9<=AE89D:CL<D:9:C89<8?H<H=BI9C8C?><;:B=8?9:HE@C:CA:H=@9:H>BI>9:;9B>P:CG;>B>?:9<@C8><>=?><D:;<>H>EE=A>;=<:L H;:=<8?F=B8`=?CB8?FE8?F>G8C:=9S">;8?9<=?H:L)<>HVD=@9:??><>?E7K>;V:C8? 0>E>F?:LA@<D:=E9>K>;V:C8?4=;89K8<D)HD=:GG:;S(9K:EEL6:;8>L48:;;:6>@E:dL=?C +CF=;C.=;g9:K>;V:C8?<D:4=;899<@C8>SU>D?0=F:K>;V:C8?<D:28E=?9<@C8>L=?C R[ %899:<L`8PS RY ^>?;=C6>:DB:;Sa^>:?8F_)>@?C0>BI>98<8>?_U%%"&b8?U1,+$/;"+;.%$(+'H.%(+6'<#"1&$(+"1'?,/%*,+$(N,%M*D>B=9#8H=<=L:CSi1;::?K>>C4;:9930>??:H<8H@<LMNNMj3ZOe[NS R] *D>B=9#8H=<=La#@8F8->?>c9J="88(;'"'U=(1(;'`,5;N"b8?U1,+$/;"+;.%$(+'H.%(+6'<#"1&$(+"1'?,/%*,+$(N,%M*D>B=9#8H=<=L:CSi1;::?K>>C4;:9930>??:H<8H@<LMNNMj3YXS RZ

=E<D>@FD6:;8>D:EI:C:9<=AE89D<D:28E=?9<@C8>LD:=E9>K>;V:C=<<D:0>E@BA8=e 4;8?H:<>?+E:H<;>?8H2@98H0:?<:;=?C&%0(2iC89H@99:CE=<:;jS&?=CC8<8>?LU=I=?:9: H>BI>9:;9LKD>K:;:=E9>C:P:E>I8?F9<@C8>98?*>V7>9@HD=9U8VV:?^>A> i+`i:;8b:?<=ew>;v9d>ijh;:=<:c8?rozra7u>\8/@=9=l*>;@*=v:b8<9@l58;>7>9d8 )@d@v8l=?c^=d@>"@v@9d8b==?c<d:-8ii>?5>@9>^7>v=8i-5^_u=i=?:9: 6;>=CH=9<8?F0>;I>;=<8>?jG>@?C:CA7;=C8>I;>C@H:;9L:?F8?::;9L=?CH>BI>9:;98? ROZQLP898<:C<D:9<@C8>98?4=;89=?C0>E>F?:<>?><>?E7H>EE=A>;=<:K8<D><D:; H>BI>9:;9LA@<=E9><>B>C:E<D:8;9<@C8>9=G<:;<D:+@;>I:=?>?:9S *D::J@8IB:?<G>;:E:H<;>?8HB@98H9<@C8>9K=9P:;7:`I:?98P:LD>K:P:;= D=?CG@E>GI:>IE:K:;:=AE:<>A@8EC<D:8;>K?9<@C8>9L9@HD=9*;89<;=B0=;7SW>;V8?F 8?#>?C>?L0=;7A>@FD<D89G8;9<<=I:;:H>;C:;8?ROZML=?CC:P:E>I:CD89>K?9<@C8> G;>B<D:;:S#>@89=?C6:A:6=;;>?C:P:E>I:C=9<@C8>8?-:K/>;V=;>@?CROX]<> :9<=AE89D<D:4;>\:H<G>;2@98HG>;2=F?:<8H*=I:S&<K=98?<D:6=;;>?9<@C8><D=<0=F: H>BI>9:C4(11("=%'H(>8?ROZRSi(A;8:G:`H:;I<>G<D89I8:H:89C89H@99:C8?0D=I<:; *D;::Sj&?+@;>I:<D:F>P:;?B:?<E=;F:E7G@?C:C:E:H<;>?8HB@98H9<@C8>9K8<D8?;=C8> 9<=<8>?9LKD:;:=98?<D:,?8<:C)<=<:9H>BI>9:;9<@;?:C<>=H=C:B8==?CF;=?<9G>;<D:8; G@?C8?FLB=8?E7:9<=AE89D8?F9<@C8>9K8<D8?=?=H=C:B8=9:<<8?FS*D:G8;9<I;>B8?:?< 9<@C8>8?<D:,S)SA:F=?=9=H>EE=A>;=<8>?A:<K::?4;8?H:<>?=?C0>E@BA8=,?8P:;98<8:9S &?ROZO$<<>#@:?8?F=?C.E=C8B8;,99=HD:P9V7G;>B0>E@BA8=\>8?:CK8<D 28E<>?6=AA8<<=?C%>F:;):998>?9G;>B4;8?H:<>?<>G>;B<D:0>E@BA8=e4;8?H:<>? +E:H<;>?8H2@98H0:?<:;S&?8<8=EE7#@:?8?F=?C,99=HD:P9V7C:P:E>I:C=9<@C8>=< 0>E@BA8==?C9>@FD<<>>A<=8?=97?<D:98d:;G;>B%0(S6=AA8<<V?:K>G<D89=?CK=9 =E9>8?<:;:9<:C8?<D:8?9<;@B:?<LKD8HDE:C<><D:\>8?8?F>G<D:<K>9<@C8>9=?C=HJ@8;8?F =?%0(2=;V&&97?<D:98d:;<D>@FD=F;=?<G;>B<D:%>HV:G:EE:;">@?C=<8>?S':P:E>I:C 8?ROZYA75=;;7$E9>?=?C5:;A:;<6:E=;L<D:97?<D:98d:;F:?:;=<:C9>@?C<D;>@FD P=H@@B<@A:9@98?F>9H8EE=<>;9=?C?>89:F:?:;=<>;9S*D:=H<@=EI;>C@H<8>?>G9>@?C H>?989<:C>GF8P8?F<D:97?<D:98d:;H>BB=?C9K8<D=I@?HD:CI=I:;;>EES*D:I=I:;;>EE9 K>@EC<D:?a<:EEb<D:97?<D:98d:;D>K<D:I8<HDLP>E@B:LC@;=<8>?L=?C<8BA;:K:;:<>A: H>?<;>EE:CS28E<>?6=AA8<<K>;V:CK8<D<D:B=HD8?::`<:?98P:E7=?C?><:93 *D:B=HD8?:K=9<><=EE7?:@<;=ES*D:;:K:;:?>9:<e@I9>;9=BIE:;9SW:D=C<> 9<=;<G;>B9H;=<HD=?CC>:P:;7<D8?FG;>B<D:A:F8??8?FSqW:C8C?c<K=?<<> ;:C@H:<D:C8B:?98>?9>GB@98HLK:\@9<K=?<:C<>:?D=?H:<D:BS(?CK:C8CA@< R[

<D:I;>AE:BK=9<D=<8<K=9=B>?9<:;>G=B=HD8?:S&<K=9<D:98d:>G=KD>E: ;>>BL=D@F:=GG=8;S RO *D:%0(2=;V&&97?<D:98d:;K=9@9:C8?6=AA8<<c9`(%(;#'"#5'?/"&,/H>BI>9:C8?RO[R G>;9>I;=?>=?C97?<D:98d:C<=I:Si(?:`H:;I<>G<D89I8:H:89=E9>C89H@99:CE=<:;8? 0D=I<:;*D;::Sj,?G>;<@?=<:E78?<D:l[N9L=HH>;C8?F<>6=AA8<<La$@;9<@C8>K=98?P=C:CS *D:7C8C?c<9<:=EB@HD>G<D:97?<D:98d:;A:H=@9:<D:7K>@EC?c<V?>KKD=<<>C>K8<D8<S *D:7<>>V=BIE8G8:;9=?C<=I:B=HD8?:9S*>;:K8;:=EE>G<D=<L<D:97?<D:98d:;K>@EC?:P:;D=P:F><A=HV8?<>9D=I:Sb MN ->?:<D:E:99LHE=998H=E=?=E>F<=I:<:HD?8J@:9K:;: A:8?F9@;I=99:CA7C8F8<=E<:HD?>E>F8:98?<D:lYN9S&?<D:B8Cl]N94;8?H:<>?H:=9:C8<9 =GG8E8=<8>?K8<D<D:9<@C8>=?CA:H=B:=99>H8=<:CK8<D6:EE#=A9@?C:;<D:C8;:H<8>?>G 1>CG;:7W8?D=B=?C4=@E#=?9V7S*>C=7<D:0>E@BA8=e4;8?H:<>?+E:H<;>?8H2@98H 0:?<:;899<8EE=H<8P:LA@<K=9;:>;F=?8d:C8?ROOZ=9<D:0>E@BA8=,?8P:;98<70>BI@<:; 2@98H0:?<:;i020jC8;:H<:CA76;=CG>;C1=;<>?S $?<D:><D:;98C:>G<D:H>?<8?:?<8?<D:RO[N9LH>BI>9:;98?)=?";=?H89H>A:F=? :`I:;8B:?<8?FK8<D<=I:B@98HS*=I:B@98HH>?989<9>G@98?FB=<:;8=E9;:H>;C:C>?<=I:L KD8HDK:;:H@<=?C9IE8H:C<>F:<D:;L;=?A=HVK=;C9LE>>I:CL:BIE>7:CP=;8>@9;:H>;C8?F 9I::C9L=?Ck>;C@AA:C>P:;B@E<8IE:<8B:9<>H;:=<:P=;8>@9B=?8I@E=<8>?9>G9>@?CS&? RO[R=<<D:)=?";=?H89H>0>?9:;P=<>;7LH>BI>9:;9%=B>?):?C:;=?C4=@E8?:$E8P:;>9 A:F=?=9:;8:9>G<=I:B@98HH>?H:;<9H=EE:C);#(+%LKD8HD:P:?<@=EE7E:=C<><D:B G>;B8?F=F;>@I>G<D:9=B:?=B:S$<D:;H>BI>9:;9=99>H8=<:CK8<D<D:F;>@IK:;: 2>;<>?)@A><?8HVL4D8EW8?9>;L#=@;:EU>D?9>?L=?C*>?72=;<8?S5>K:P:;L<D:8; :`I:;8B:?<=<8>?K8<D<=I:B@98HK=9?><G=P>;:C=<<D:H>?9:;P=<>;7A:H=@9:>G @?G>;<@?=<:A=CI;:99S*D89I;>BI<:C)@A><?8HV=?C):?C:;<>;:E>H=<:<D:8;9<@C8>8?= D>@9:LG>;B8?F<D:)=?";=?H89H>*=I:2@98H0:?<:;i)"*20jS MR $E8P:;>9\>8?:C=7:=; RO &?<:;P8:KK8<DU=9>?1;>99La28E<>?6=AA8<<<=EV9=A>@<?3(1;=,1bi(I;8EMNNNjS";>B D<<I3kkKKKSG@;8>@9SH>BkI:;G:H<k>DBkA=AA8<<SD<BEi=HH:99:CNOkM[kN]jS MN (@(5S MR '=P8CWS6:;?9<:8?;:H:?<E7:C8<:C=A>>V<8<E:C23,')"#'/"#+(%+;'2"*,'H.%(+'7,#$,/6'XYa[%' 7;.#$,/+.1$./,'"#5'<N"#$S:"/5,LKD8HDI;>P8C:9=?>P:;P8:K>G<D:9<@C8>c98?H:I<8>?K8<D8?<:;P8:K9 =?C:99=79K;8<<:?A7):?C:;L$E8P:;>9L=?C)@A><?8HV=B>?F><D:;9S*D:A>>V=E9>8?HE@C:9='.'>G= ;:H:?<G:9<8P=E8?MNNXH=EE:CaW>K=?C"E@<<:;LbKD8HDa?><>?E7H:E:A;=<:C<D:=;<89<8H=HD8:P:B:?<9>G 4=@E8?:$E8P:;>9L%=B>?):?C:;L*>?72=;<8?L2>;<>?)@A><?8HVL=?C68EE2=F8??89LA@<=E9> C:B>?9<;=<:C<D:H>?<8?@8?FP8<=E8<7>G<D:8;H;:=<8P:K>;VSb'=P8CWS6:;?9<:8?L:CS23,')"#'/"#+(%+;' 2"*,'H.%(+'7,#$,/6'XYa[%'7;.#$,/+.1$./,'"#5'<N"#$S:"/5,i,?8P:;98<7>G0=E8G>;?8=4;:9936:;V:E:7L MNN]j3M]OS RY

E=<:;8?RO[MS*D89H:?<:;K=9=E9>=A;8CF:A:<K::?<D:=:9<D:<8H9>G=.%(D.,'+;#+/E$, =?C,1,W$/;#(%+3,'H.%(WS(9?><:CA7)@A><?8HVLa(<<D=<I>8?<L<D:;:K=9=A8FA=<<E: A:<K::?<D:)<>HVD=@9:?:E:V<;>?89HD:2@98V=?C<D:)HD=:GG:;B@98J@:H>?H;g<:L=?C K:K=?<:C<>A;8CF:<D:9:C8GG:;:?H:9A7H=EE8?F8<l<=I:B@98HLcKD8HDH>@ECA:=?7<D8?F <D=<K=9>?<=I:Sb MM &?RO[Y<D:)"*20;:H:8P:C=F;=?<<>\>8?<D:28EE90:?<:;G>; 0>?<:BI>;=;72@98HLK8<D$E8P:;>9=9C8;:H<>;S*D:H:?<:;<D:?A:H=B:V?>K?=9<D: 28EE9*=I:2@98H0:?<:;i2*20j=?CK=9E=<:;;:?=B:C<D:0:?<:;G>;0>?<:BI>;=;7 2@98Hi002jS5>K:P:;LKD:?%>A:;<(9DE:7<>>V>P:;C8;:H<8>?>G<D:H:?<:;8?RO[O =EE<D:>;8F8?=EB:BA:;9>G<D:)"*20D=CE:G<=?C<D::J@8IB:?<D=CA::?<=V:? =I=;<S MQ (I;8B::`=BIE:>G=<=I:I8:H:89)<:P:%:8HDc9K$b%':;##"'V"(#GKD8HDK=9 H>BB8998>?:CA7<D:)"*208?RO[ZS ->?:<D:E:99L<D:I;>H:99:9>GH;:=<8?FB@98H:E:H<;>?8H=EE7C@;8?F<D89:=;E8:; I:;8>CLG;>B<D:E=<:lXN9@?<8E<D:lYN9LK=9:`<;:B:E7<8B:H>?9@B8?FS(9I;:P8>@9E7?><:CL<=I:B@98HH>?989<:C>GH@<<8?F=?C9IE8H8?F9>@?C9<>F:<D:;L=P:;7<:C8>@9\>A :9I:H8=EE78?H>BI=;89>?<><>C=7c9B@98H:C8<8?FI;>F;=B9i4:=VL4;><>>E9L(@C8>B:C8=L ):998>?]L:<HSjS(E9>LK8<D:E:H<;>?8H=EE7F:?:;=<:CB@98HL<D:H>BI>9:;K>@ECD=P:<> K=8<C=79>;:P:?K::V9A:G>;:=H<@=EE7D:=;8?F<D:9>@?Ci9j<D:7D=CH>BI>9:C@98?F I=<HD:9=?CI@?HDH=;C9S&G<D:9>@?CK=9?><9=<89G=H<>;7<D:KD>E:I;>H:99>GH@<<8?F =?C9IE8H8?F<=I:LH;:=<8?F?:KI@?HD:CI=I:;;>EE9L>;H>?9<;@H<8?F?:KI=<HD:9<>aIE@F 8?bK>@ECD=P:<>A:;:C>?:S(96>:DB:;?><:9La'@;8?F<D:lHE=998H=Ec'I:;8>C>G<D: 0>E>F?:9<@C8>&D=P:>A9:;P:Co1><<G;8:C28HD=:Ep^>:?8FL)<>HVD=@9:?L=?C><D:; H>BI>9:;9;:I:=<8?F98BIE:=H<8>?9=?CK>;V8?FE>?FD>@;9@?<8E<D:;:9@E<L8?=?>I<8B=E K=7LH>;;:9I>?C:C<><D:8;B@98H=E8B=F8?=<8>?Sb MX *D89899@:K=99>EP:C8?<D:E=<: ROYN9K8<D<D:C:P:E>IB:?<>GC8F8<=E<:HD?>E>F7=?CI;>F;=B9<D=<K>;V8?;:=Ee<8B: I;>H:99:9S &?ROYN=?><D:;8BI>;<=?<9<@C8>A:F=?8?4=;89LV?>K?=9&%0(2i&?9<8<@<:G>; %:9:=;HD=?C0>>;C8?=<8>?>G(H>@9<8H9=?C2@98HjS&%0(2K=9G>@?C:C=?C C:P:E>I:CA748:;;:6>@E:d<D;>@FD<D::?E89<B:?<>G<D:4;:98C:?<>G";=?H:L1:>;F:9 MM 0D=C=A:L]Ye]]S MQ %:H:?<E7=F;>@I>G6=7(;:=H>BI>9:;9D=P:;:P89:C<D:=:9<D:<8H=?C8C:>E>F7>G<D:F;>@ILH=EE8?F <D:B9:EP:9<D:-:K)=?";=?H89H>*=I:2@98H0:?<:;i-)"*20j>GG8H8=EE7<=V8?F<D:?=B:8?MNNNK8<D <D:=II;>P=E>G):?C:;L)@A><?8HVL=?C$E8P:;>9S MX 6>:DB:;L[MS R]

4>BI8C>@S6>@E:dc9B>9<98F?8G8H=?<H>BI>98<8>?I;>C@H:C=<&%0(2K=9Vc*;#%L 8?8<8=EE7H>BI>9:C8?RO]RK8<D;:P898>?9B=C:@?<8ERO]XS(<&%0(2L6>@E:dK=9=AE: <>K>;VK8<DE8P:I;>H:998?FL<>D8BB@HDB>;:;:K=;C8?F<D=?<D:=B>@?<>GD>@;9<D=< =;:9I:?<K>;V8?FK8<D<=I:LH@<<8?F=?C9IE8H8?FS">;<D:E8P:I;>H:998?F>G9>@?C9 6>@E:d@9:C<D:9>G<K=;:X LC:P:E>I:CA718@9:II:'818@F?>L<D:G8;9<C8F8<=E98F?=E I;>H:99>;SVc*;#%G:=<@;:9=E=;F:HD=BA:;:?9:BAE:>G<K:?<7eG>@;IE=7:;9K8<D98` 9>E>89<9=?CE8P::E:H<;>?8H9La8?KD8HD9>@?C9IE=7:CA7<D:98`9>E>89<9iI8=?>L 97?<D:98d:;LD=;ILH8BA=E>BLP8A;=ID>?:L=?C`7E>ID>?:jK:;:8?C:I:?C:?<E7 <;=?9G>;B:C=?C;>@<:C<D;>@FDC8GG:;:?<E>@C9I:=V:;9IE=H:C=;>@?C<D:D=EESb MZ ->< >?E7C>:9<D:I8:H:8?HE@C:<D:=9I:H<>G:E:H<;>?8H=EE7B=?8I@E=<8?F<D:9>@?C9>G <;=C8<8>?=E8?9<;@B:?<=<8>?8?;:=Ee<8B:L8<=E9>G:=<@;:9<D:=9I:H<>G9I=<8=E8d=<8>?A7 8?H>;I>;=<8?FC8GG:;:?<E>H=<8>?9G>;<D:9I:=V:;9<D;>@FD>@<<D:I:;G>;B=?H:E>H=<8>?S )>B:>G<D:><D:;H>BI>9:;9=99>H8=<:CK8<D<D:H:?<:;=;:U:=?e0E=@C:%899:<L1:;=EC 6:??:<<L2=`2=<D:K9L=?CU>D?0D>K?8?FS(90D=C=A:?><:93 &%0(2K=9=<G8;9<>;F=?8d:C=9G8P:C:I=;<B:?<9S&?=CC8<8>?<><D:H>BI@<:; C:I=;<B:?<L<D:;:K=9=C:I=;<B:?<>G8?9<;@B:?<=EI:;G>;B=?H:D:=C:CA7.8?V> 1E>A>V=;L=?:E:H<;>?8HB@98HC:I=;<B:?<D:=C:CA7#@H8=?>6:;8>L=C:I=;<B:?< >GI:C=F>F7D:=C:CA728HD:E':H>@9<L=?C=C:I=;<B:?<>G<D:5("8;#"1D:=C:C A71:;=EC6:??:<<iKD>9:\>A8<K=9<>V::I<D:><D:;C:I=;<B:?<98?= H>>I:;=<8P:;:E=<8>?9D8IjS M[ -><>?E7K=9&%0(2C:C8H=<:C<>H>BI>98?F:E:H<;>?8HB@98HLA@<=E9>;:9:=;HD 8?HE@C8?F=H>@9<8H9=?C9>G<K=;:I;>F;=B9S*D:>GG8H8=E>I:?8?F>G&%0(2K=98?ROYY =?C8<899<8EE=H<8P:<>C=7@?C:;<D:C8;:H<8>?>G";=?V2=CE:?:;S (E<D>@FD0D>K?8?FK>;V:C=<&%0(2LD:=E9>;:H:8P:CG@?C9G;>B<D:B@98H C:I=;<B:?<=<)<=?G>;C,?8P:;98<7<>G>;B00%2(i0:?<:;G>;0>BI@<:;%:9:=;HD8? 2@98H=?C(H>@9<8H9jS0>eG>@?C:CK8<D#:E=?C)B8<D8?ROYZL<D:;:9:=;HDH:?<:;899<8EE =H<8P:<>C=7S2>;:8BI>;<=?<E7L0D>K?8?FC:P:E>I:C=97?<D:989<:HD?8J@:V?>K?=9"2 ig;:j@:?h7b>c@e=<8>?j97?<d:9898?royreyql=?c9>ec<d:e8h:?9:<>/=b=d=s0d=c=a:?><:93 &?0/,D.,#+&'=;5.1"$(;#L<D:8?9<=?<=?:>@9G;:J@:?H7>G>?:K=P:G>;BLH=EE:C<D: +"//(,/G89P=;8:CA7=?><D:;K=P:G>;BLH=EE:C<D:=;5.1"$;/M*D::`<:?<<>KD8HD MZ 0D=C=A:LR]RS M[ (@(5MLRROS RO

<D:H=;;8:;G;:J@:?H7P=;8:9LH=EE:C*,"W'5,N("$(;#G89C:<:;B8?:CA7<D:=BIE8<@C: >G<D:B>C@E=<>;S*D:;=<:=<KD8HD<D:H=;;8:;G;:J@:?H7P=;8:989C:<:;B8?:CA7 <D:G;:J@:?H7>G<D:B>C@E=<>;S MY ";>B<D:/=B=D=;>7=E<8:9=?C><D:;F;=?<9<D:H:?<:;K=9=AE:<>F;>KH>?98C:;=AE7 C@;8?F<D:RO]N9S"@;<D:;B>;:L><D:;@?8P:;98<8:9=E9>A:F=?<>H;:=<:9<@C8>99@HD=9 2&*L,?8P:;98<7>G0=E8G>;?8=)=?'8:F>L28HD8F=?)<=<:,?8P:;98<7L=?C<D:,?8P:;98<7 >G*>;>?<>S2>;:9<@C8>9K:;:=E9>C:P:E>I:C8?+@;>I:=9K:EEL8?)K:C:?L':?B=;VL =?C+?FE=?CS&?G=H<L8<89?><@?H>BB>?<>C=7<>G8?C:E:H<;>?8HB@98H9<@C8>9=99>H8=<:C K8<D@?8P:;98<8:9=?C<D:8;H>BI>98<8>?C:I=;<B:?<9=EE>P:;<D:K>;ECS$<D:;@?8P:;98<7 A=9:C9<@C8>98?<D:,S)S8?HE@C:<D:5=;P=;C,?8P:;98<7)<@C8>G>;+E:H<;>=H>@9<8H 0>BI>98<8>?L&?C8=?=,?8P:;98<70:?<:;G>;+E:H<;>?8H=?C0>BI@<:;2@98HL=?C 4:=A>C70>BI@<:;2@98H':I=;<B:?<L<>?=B:=G:KS ->K;:<@;?8?F<><D:97?<D:98d:;L=9I;:P8>@9E7B:?<8>?:C=?8?9<;@B:?<@9:CG>; H;:=<8?F:E:H<;>?8HB@98HL=?=B:<D=<89D8FDE7;:F=;C:CK8<D<D:C:P:E>IB:?<>G 97?<D:98d:;9LKD8HDH=??><F>K8<D>@<B:?<8>?L89%>A:;<2>>FS&?<D:lZN9L2>>FA:F=? A@8EC8?F=?C9:EE8?F<D:;:B8?9=?CK=9<D:?E=<:;=II;>=HD:CA75:;A:;<':@<9HD8? RO[QLA=98H=EE7<>A@8EC=B=HD8?:<D=<H>@ECI;>C@H:a9>@?C9<D=<K:?<K>>>K>> K>>>Sb M] (9D:<D>@FD<=A>@<8<L2>>FC:H8C:C<D=<D:H>@ECD=P:>?:>9H8EE=<>; H>?<;>EE:CA7=?><D:;S*D:9:>9H8EE=<>;9K>@ECA:P>E<=F:eH>?<;>EE:C=?CD=CV?>A9>? <D:B<D=<H>?<;>EE:CG;:J@:?H7=?C=BIE8<@C:B>C@E=<8>?S&<K=9G;>B<D89H>?H:I<8>? <D=<2>>F<D=?A:F=?A@8EC8?F=?C9:EE8?FD8997?<D:98d:;9S$<D:;:=;E797?<D:98d:;9 8?HE@C:4=@E^:<>GGc9RO[Z)&#W,$'i)7?<D:98d:;^:<>GGjLKD8HDD=C=<>@HDe9:?98<8P: V:7A>=;CS(E9>8?<D::=;E7l[N9L'>?=EC6@HDE=9<=;<:CH>BI>98?F=<<D:)"*20LA@< 9=KD>K<8B:H>?9@B8?FH@<<8?F=?C9IE8H8?F<=I:K=9L=?C9:<>@<<>C:P:E>Ia?:K :J@8IB:?<L8?HE@C8?F<D:8C:=G>;=?>I<8H=EE7H>?<;>EE:Cl97?<D:98d:;cSb MO 6@HDE==?C )@A><?8HV<D=?A:F=?K>;V8?F<>F:<D:;<>H;:=<:),/(,%'X[[=E9>V?>K?=9<D:a6@HDE= 6>`Sb5>K:P:;L:=;E8:;97?<D:98d:;9D=CI;>AE:B99I:H8G8H=EE7K8<D<@?8?F=?C<D:@9:>G I=<HDH>;C9LKD8HDH>@ECA:H>B:=<=?FE:CB:99=?C>G<:?C8C?><K>;V>;H>??:H<8>?9 K>@EC:=98E7A;:=VS2>>Fc9=(#(=;;8%9>EP:C<D:I;>AE:BK8<DI=<HDH>;C9A7 MY 0D=C=A:GMZRS M] (@(5MLRXRS MO (@(5MLRX[S MN

8?H>;I>;=<8?FA@<<>?9>;=9K8<HDG>;B>C@E:H>??:H<8>?9S+P:?9>L'=P:)B8<Dc9ROY]?/;*3,$S^aK=9B>;:<D=?=;:=E97?<D:98d:;S&<K=9G@EE7I;>F;=BB=AE:=?CI>E7ID>?8H o=?cpg:=<@;:9b8h;>i;>h:99>;ea=9:c=@<>e<@?8?fsb QN )8?H:?/;*3,$S^K=9I;>F;=BB=AE: H>BI>9:;9?>E>?F:;D=C<>;:H;:=<:<D:8;9>@?C9KD:?:P:;<D:B=HD8?:K=9<@;?:C>?r <D:7?>KH>@ECA:9=P:CS &?=CC8<8>?L9:P:;=EU=I=?:9:H>BI=?8:9A:F=?C:P:E>I8?FV:7A>=;C97?<D:98d:;9 8?<D:RO[N9L8?HE@C8?F%>E=?CL/=B=D=L=?C^>;FS(9I;:P8>@9E7?><:CL/=B=D=K=9 8?9<;@B:?<=E8?E8H:?98?F=?CI=<:?<8?F0D>K?8?Fc9"297?<D:989S&V@<=;>^=V:D=9D8L G>@?C:;=?CI;:98C:?<>G%>E=?CL;:H=EE93 &?U=I=?<D:;:K=9?>D89<>;7>G<D:>;F=?S(?C=<<D=<<8B:L?>>;F=?9S)> 9>B:>?:&V?:K8BI>;<:C=P:;798BIE::E:H<;>?8H>;F=?G;>B<D:,)(S&<K=9 B=C:K8<D<@A:9S&<A;>V:=?CD:=9V:CB:<>G8`8<S&K=9>I:;=<8?F=*.9<>;:L9> &G8`:C<D:>;F=?=?C&E8V:C<D:9>@?CP:;7B@HDS*D:?&HD=?F:CC8;:H<8>?LG;>B *.<>B@98HS QR *D:9:H>BI=?8:9H>?<8?@:<>C:P:E>I97?<D:98d:;9=?CK:;:8?9<;@B:?<=E8?I;>C@H8?F H>BB:;H8=EE79@HH:99G@E8?9<;@B:?<9S2>;:8BI>;<=?<E7K=9<D:C:P:E>IB:?<>G2&'& i2@98h=e&?9<;@b:?<'8f8<=e&?<:;g=h:j8?<d::=;e7l]n9lkd8hdk=9c:p:e>i:ca:h=@9:>g <D:?::C<>D=P:=9<=?C=;CB@98H=E8?<:;G=H:S^=V:D=9D8G8;9<9=K<D89?::CKD:?D:?><:CLa&<c9K=9<:C:?:;F78GI:>IE:H=?c<H>BB@?8H=<:L9>8?<D:C8F8<=E:;=L<D:J@:9<8>? K=9D>K<>9D=;:C=<=L=?C?><<>D=P:=9<=?C=;CK=9?><I>998AE:Sb QM 0D=C=A:G@;<D:;?><:93 *D:I;8B=;7A:?:G8<L=98?<:?C:CLK=9<D=<=?7?@BA:;>GC:P8H:9L;:F=;CE:99>G <D:8;B=?@G=H<@;:;9LH>@ECA:E8?V:C8?=98?FE:979<:B<>A:H>?<;>EE:C=?C 97?HD;>?8d:CA7=98?FE:I:;G>;B:;L=?C<D89GE:`8A8E8<78?979<:BC:98F?=EE>K:C H>BI>9:;9<>A@8EC@I979<:B98?H;:B:?<=EE7LF;=C@=EE7=CC8?F>;:`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