Architecture, Design and Conservation
Danish Portal for Artistic and Scientific Research
Aarhus School of Architecture // Design School Kolding // Royal Danish Academy
Exploring a Child-Centred Design Approach Feder, Karen
Publication date:
2020
Link to publication
Citation for pulished version (APA):
Feder, K. (2020). Exploring a Child-Centred Design Approach: From tools and methods to approach and mindset.
General rights
Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights.
• Users may download and print one copy of any publication from the public portal for the purpose of private study or research.
• You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal ?
Take down policy
If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim.
Download date: 31. Jul. 2022
EXPLORING A CHILD-CENTRED DESIGN APPROACH
From tools and methods to approach and mindset
PhD dissertation submitted 2019 Karen Feder
Design School Kolding
<
I1,*,,)2+!"3%,!23,//1, %+!&+!2"3
%!&22"133&,+ ,(,
"2&$+ %,,),)!&+$
VTU]
A11& 03$''" 1*/$0 #$'G21$11& 0#$'1*1 # 0$") /B
# *2)1$*)$0*''*/1*/$)1# / 0 /#)-/*% 10*!1# 0$")!*/'6 -/*"/(1 0$")#**'*'$)"21#0)*$)!'2 ) *)1# 3'21$*)*/1# *21*( *!1#$0
#$00 /11$*)?
7/),1&+$ %&)!I "+31"!!"2&$+//1, %J#1,*3,,)2+!*"3%,!23,//1, %+!*&+!2"3
%&2%/1,'" 3,1&$&+3"2#1,*/1,#"22&,+)+""!+!!"*+!#,1%&$%"1#, 42,+ %&)!1"+&+3%"
!"2&$+/1, "22@3%",1"3& )) (,#!"#&+&3&,+2+!2%1"!)+$4$"#,16,1(&+$&+ %&)!I "+31"!
#2%&,+&+!"2&$+26"))2/"12,+)/499)"*"+36%8 %&)!1"+%5"+,3""+3%"2313&+$/,&+36%"+
!"2&$+&+$#,1/)8#4)"7/"1&"+ "2#,1 %&)!1"+B%&21"2"1 %"7/),1"23%"+,3&,+,# %&)!I "+31"!!"2&$+
//1, %+!3%"&+#)4"+ ",+3%"!"2&$+/1 3&3&,+"16%"+"7/"1&"+ &+$3%"6,1)!2""+#1,*3%"
/"12/" 3&5",#3%" %&)!B
+&+&3&)234!8,#"7&23&+$&+&3&3&5"2&+3%"1",#!"2&$+?/)8+! %&)!1"+"23)&2%"21" ,**"+!3&,+2
#,16,1(&+$6&3% %&)!1"+&+3%"!"2&$+/1, "22B%&2&2234!&"!#413%"13%1,4$%2"1&"2,#&+3"15&"626&3%
"7/"132&+3%"1"3, 1"3"!&1" 3&,++!2314 341"#,13%"242"04"+31"2"1 %/1, "22B
%"1"2"1 %/1,'" 3&21,,3"!&+!"2&$+1"2"1 %+!*("242",#*"3%,!2#1,*!"2&$+/1 3& "3, 1"2"1 %3%1,4$%!"2&$++!1"2"1 %#,1!"2&$+!"5"),/*"+3B+,/"++!"7/),13,18//1, %3,3%"
#&")!,#1"2"1 %&2/,22&)"3%1,4$%3%"42",#!"2&$+"7/"1&*"+32+!/1,$1**3& ?2314 341"!
1"2"1 %04"23&,+A#1$0#$'F )1/ 0$")--/*#)#*4* 0$1$)!'2 ) 1# 0$") /;%"
$"+"1)1"2"1 %//1, %&2/1&*1&)804)&33&5"+!#,)),623%"*"3%,!,),$8,#1,4+!"!%",18 6%& %*("2&3/,22&)"3,"+3"13%"#&")!,#1"2"1 %6&3%,43/1"!"#&+"!3%",18B+23"!?3%" ,))" 3"!
!3#1,*3%" ,+!4 3"!#&")!234!&"2" ,*"23%"*&+#, 42,#3%"+)82&2?+!3%"#&+!&+$2#1,*3%"
#&")!234!&"21""&+$"7/)&+"!+!!&2 422"!3%1,4$%"7&23&+$3%",1"3& ))&3"1341"B
,))" 3&,+,# %&)!I "+31"!!"2&$+*"3%,!231$"3"!!"2&$+"12%2""+!"5"),/"!3, ,+!4 31"2"1 %
&+3,6%3 %&)!I "+31"!!"2&$+//1, %&2B%"*"3%,!21"AD&+3"1+2%&/2 %&)!E?D ,I 1"3&+$3%")&#"
,# %&)!E+!D ,*/1&+$ %&)!/"12,+2EB%"#&")!234!&"2 ,+!4 3"!&+3%&21"2"1 %/1,'" 3&+ )4!"36, /&),3234!&"2+!36,*&+234!&"2B%"/&),3234!&"2/1&*1&)8"7/"1&*"+36&3%3%" %&)!I "+31"!!"2&$+
*"3%,!26&3%!&##"1"+338/"2,#/13& &/+32?2411,4+!&+$2+! 3&5&3&"2+!!"5"),/*"3%,!2#,1
!, 4*"+3&+$3%"/1, "22B%"36,*&+234!&"21"/13,#23"1E2 ,412"#,1$1,4/,#!"2&$+
234!"+32+!/1,#"22&,+)!"5"),/*"+3 ,412"#,1$1,4/,#/1,#"22&,+)!"2&$+"12?1"2/" 3&5")8J)) /13& &/3&+$6&3%3%"#413%"1/41/,2",#!"2&$+&+$/)8#4)"7/"1&"+ "2#,1 %&)!1"+B%" %&)!I "+31"!
!"2&$+//1, %&2&+31,!4 "!#,13%"!"2&$+"12&+ ,)),13&,+6&3% %&)!1"+&+3%" %&)!1"+P2"5"18!8
"+5&1,+*"+32B
%"!"2&$+"12E"7/"1&"+ ",#3%" %&)!I "+31"!!"2&$+ 3&5&3&"2&2!, 4*"+3"!3%1,4$%,433%"/1, "22 3%1,4$%1"#)" 3&,+2+!31 (&+$3,,)2!"5"),/"!2/" &#& ))8#,13%&2/1,'" 3J"2&$+/1, "22231&/2?
1"#)" 3&,+ 1!2+!1"#)" 3&,+(&3?*,+$,3%"12B%"!, 4*"+33&,++!3%"#,)),6I4/&+3"15&"62
&!"+3%,63%"!"2&$+"1"7/"1&"+ "2+!13& 4)3"23%" %&)!I "+31"!!"2&$+//1, %&+/1 3& "B%&2 ,4+32#,13%"!3*3"1&)#,13%"1,4+!"!%",18+)82&21"24)3&+$&+"&$%3D$1,4+!"!E ,+ "/32 1"#)" 3&+$3%"!"2&$+"12E"7/"1&"+ ",#3%" %&)!I "+31"!!"2&$+//1, %B%"D$1,4+!"!E ,+ "/32
"23)&2%3%"$1,4+!6,1(#,13%"!"5"),/*"+3,##,41 3"$,1&"2A!"2&$+"1?!"2&$+? %&)!+!)&#"?6%& %
!")&*&3+!2314 341"3%"3%",1"3& ))&3"1341"6%& %&2/13,#3%"!&2 422&,++!3%""7/)+3&,+,#3%"
D$1,4+!"!E!3#1,*3%"#&")!234!&"2B
%"!&2 422&,+!!1"22"2+!+26"123%"1"2"1 %04"23&,+2A#1$0#$'F )1/ 0$")--/*#
)#*4* 0$1$)!'2 ) 1# 0$") />%"1"2"1 %&2+&))42313&,+,#3%" %&)!I "+31"!!"2&$+
//1, %?6%& %3("2&322313&+$/,&+3&+3%""7/"1&"+ ",# %&)!1"++!3%"&1"5"18!8)&5"2B%"2/" &#&
#, 42&2,+"7/),1&+$?&+2/&1&+$+!&+#,1*&+$,/"+I"+!"!"+ ,4+3"126&3%3%"/41/,2",#&!"+3&+$6%3 (&+!,#/)8"7/"1&"+ "22%,4)!"!"2&$+"!J+!%,6J&+,1!"13,*("3%"*1")"5+32""+#1,*3%"
/"12/" 3&5",#3%" %&)!B7/"1&"+ &+$3%" %&)!1"++!3%"&1"5"18!8)&5"23%1,4$%3%" %&)!I "+31"!
!"2&$+//1, %)"!23,4+"7/" 3"!241/1&2"2#,13%"!"2&$+"12*(&+$3%"*1"#)" 34/,+3%"&1 224*/3&,+21"$1!&+$ %&)!1"++!"5"+ %+$"3%"&1!"2&$+/1 3& "3," ,+!4 3"!6&3% %&)!1"+J %+$"&+*&+!2"33%3&+ )4!"23%"/"12/" 3&5",# %&)!1"+&+#4341"!"2&$+/1, "22"2B%&2)"!23, 2/" &#& ,+31&43&,+3,!"2&$+1"2"1 %?1" ,**"+!3&,+2#,13%"!"2&$+&+!42318+!&*/)& 3&,+2#,1
!"2&$+"!4 3&,+?26"))2!&1" 3&,+2#,1#413%"11"2"1 %&+3,3%" %&)!I "+31"!!"2&$+//1, %B
!#,12(+&+$DI"+.1+" "+31"1"3!"2&$+3&)$+$J#151(3.',$*"3,!"13&)3&)$+$,$3+("$+$
"33"%B!BI/1,'"(3"14!2/14+$"3#"3#$)&$3"%,5,$"#3"12/.1$2")/*"1"#,(42/.1+&!"2&$+
/1, "22"+?"+3",1"3&2(*+$")/!"#&+&3&,+"1,$2/1,$3&)31"'!".1+"#,(42"1"3&!"2&$+2*3"+
/"12,+)&$4+!1&+$,5"1!"3*+$)"+!"4!$+$2/4+(3&.1++1!"1!"2&$+"2)"$"+!",/)"5")2"13&).1+B ,12(+&+$2/1,'"(3"34!#,12("1"$1""3E"+.1+" "+31"1"3!"2&$+3&)$+$EL %&)!I "+31"!!"2&$+
//1, %M,$!"32&+!#)8!")2"/!"+4!.5"+!"!"2&$+"1&32"5"1!"+#1"31+2/"12/"(3&5B +&+!)"!"+!"4+!"12.$")2"#"(2&23"1"+!"&+&3&3&5"1&+!"+#,1!"2&$+?)"$,$.1+#!(("1"+1(("
+"#)&+$"13&)31"'!"*"!.1+&!"2&$+/1, "22"+B"33""14+!"12.$38!"1)&$"1"&$"++"*"+1(("
"(2/"13&+3"15&"62*"!#.1"+!"#,12("1"&+!"+#,1,*1!"3?%5&)("3"1*"!3&)32("1"3+&+$,$2314(341&
!"+5&!"1"#,12(+&+$2/1, "2B
,12(+&+$2/1,'"(3"3"1#,1+(1"3&!"2&$+#,12(+&+$,$"+833"12&$)+!3+!"3#!"2&$+#$"32/1(2&2I 2"1"!"*"3,!"13&)3#,12("*"!!"2&$+,$#,1!"2&$+#$"324!5&()&+$B$"++"*14$"+#
!"2&$+"(2/"1&*"+3"1*4)&$$.1"2"+"+,$4!#,12("+!"3&)$+$3&)#,12(+&+$2#")3"32381"3#"3
#,12(+&+$22/.1$2*)@ 3 / ),/) )1/ / 11$'")"*"#3*/)-3$/& / ) 0$") / );"+
$"+"1"))"#,12(+&+$23&)$+$"1/1&*13(5)&33&5,$+5"+!"1"+1,4+!"!%",18*"3,!"!"1$.1!"3
*4)&$33$&+!&#")3"34!"+"+/1!"#&+"1"33",1&B23"!"3)&5"1!"&+!2*)"!"!3#1"+1(("
4!#.13"#")3234!&"1!"3/1&*1"#,(42#,1+)82"+,$1"24)33"1+"!"1#)&5"1#,1()1"3,$!&2(43"1"3
&$"++"*"(2&23"1"+!"3",1"3&2()&33"1341B
+2*)&+$#.1+" "+31"1"!"!"2&$+*"3,!"1*)1"33"3!"2&$+"1""14!5&()"3#,13(4++"#,12("&%5!
"+.1+" "+31"1"33&)$+$3&)!"2&$+"1?%"1&)+!3!"33(,**"&/1(3&(2,*1+?2*2(""3.1+")&5 ,$2**"+)&$+".1+"/"12,+"1B")3234!&"1+"&/1,'"(3"3&+()4!"1"13,/&),3234!&"1,$3,%,5"!234!&"1?
%5,1#/&),3234!&"1+"/1&*13"(2/"1&*"+3"1"1*"!!".1+" "+31"1"!"!"2&$+*"3,!"1*"!#,12("))&$"
!")3$"1"?,*$&5")2"1,$(3&5&3"3"1?2*34!5&()&+$#*"3,!"13&)3#!((",$!,(4*"+3"1"/1, "22"+B
"3,%,5"!234!&"1"1&+3"$1"1"3&+!&"3(+!&!3(41242#,1"+$14//"!"2&$+234!"1"+!",$"3
"#3"14!!++")2"2(41242#,1"+$14//"/1,#"22&,+"))"1!"2&$+"1"J))"!")3$"+!"*"!!"3#,1*)3
!"2&$+")"$"+!",/)"5")2"1#,1.1+B"+.1+" "+31"1"!"!"2&$+3&)$+$"1&+31,!4 "1"3#,1!"2&$+"1+"&
2*2/&)*"!.1+&.1+"+"25+3",*$&5")2"1B
"2&$+"1+"2,/)"5")2"#!".1+" "+31"1"!"!"2&$+(3&5&3"3"1"1#!(("3)."+!"$"++"*1"#)"(2&,+,$
!&5"12"!,(4*"+33&,+251(3.'"14!5&()"33&)/1,'"(3"3@%"1&)+!3!"2&$+/1, "2231&*)"1?1"#)"(2&,+2(,13 ,$"31"#)"(2&,+2I(&3B,(4*"+33&,+"+,$,/#.)$"+!"&+3"15&"62#!(("1%5,1!+!"2&$+"1"+,/)"5"1 ,$233"1,1!/!"+.1+" "+31"1"!"!"2&$+3&)$+$&/1(2&2B"33"4!$.1!3*3"1&)"3#,1"+
1,4+!"!%",18+)82"!"11"24)3"1"1&,33""$1""1!"1#2/"')"1,/)"5")2"+#!"+.1+" "+31"1"!"
!"2&$+3&)$+$B"$1""1+"!++"1$14+!)$#,14!1"'!")2"+##&1",5"1,1!+"!"(3"$,1&"1@!"2&$+"1?
!"2&$+?1+,$)&5"3?!"1#$1+2"1,$2314(341"1"1!"+3",1"3&2(")&33"1341?!"1&$"++"*
!&2(422&,+2#2+&33"3"1*"!3&)3#,1()1"!"&+!2*)"!"!3#1#")3234!&"1+"B
&2(422&,+"+#!(("1,$"251"1#,12(+&+$22/.1$2*)"3,*%5!"+.1+" "+31"3!"2&$+3&)$+$"12*3
%5,1!+!"+/5&1("1!"2&$+"1+"B,12(+&+$21"24)33"1+"5&2"1%5,1!+!"+.1+" "+31"1"!"3&)$+$3$"1 2&34!$+$2/4+(3&,/)"5")2"+#.1+,$!"1"2%5"1!$2)&5*"!"32/" &#&(3#,(42/4!#,12("+!"?
&+2/&1"1"+!",$&+#,1*"1"+!",/)"5")2"1*"!!"3#,1*)3&!"+3&#& "1"%5!!"1(+!"2&$+"2J,$
%5,1!+J#,13!"3)&5"11")"5+32"3#1.1+"+"2/"12/"(3&5B"33,/)"5".1+"+",$!"1"2
%5"1!$2)&5&$"++"*!"+.1+" "+31"1"!"!"2&$+3&)$+$#.1"13&)45"+3"!",5"112(")2"1#,1!"2&$+"1+"
%5&)("3#1!"*3&)31"#)"(3"1",5"1!"1"2"$+"+3$")2"1,*.1+,$+!1"!"1"2!"2&$+/1(2&23&)&
%.'"1"$1!3)&5"4!#.13*"!.1+?%5&)("3&+!&("1"1"3+!1"3*&+!I2"3!"1"1&23+!3&)3&+()4!"1"
.1+"+"2/"12/"(3&5"*3&!&$"!"2&$+/1, "22"1B"33"#.1"13&)"3(,+(1"3&2"1"3&!1$3&)
!"2&$+#,12(+&+$"+?+"#)&+$"13&)!"2&$+1+ %"+,$,/#,1!1"13&),5"15"'")2"15"!1.1"+!"
!"2&$+4!!++")2"+?2*3#,12)$3&)8!"1)&$"1"#,12(+&+$&!"+.1+" "+31"1"!"!"2&$+3&)$+$B
%&2%/1,'" 36,4)!+"5"1%5"%//"+"!6&3%,43%,23,#/",/)"6%,")&"5"!&+*"+!&+3%"
4+"7/),&3"!/,3"+3&)&+%"1"+3&+3%" ,*&+3&,+,#!"2&$+?/)8+! %&)!1"+B
3,)),#8,46%,6"1"&+5,)5"!#1,*3%"2313J3%,2",#8,46%,#,)),6"!*823"1E2
$1!43&,+/1,'" 3,++)&+")8&+VTUU@3%,2",#8,46%,/13& &/3"!&+ #,1"2&$+Q)8&+VTUW@
3%,2",#8,46%,%")/"!3,"23)&2%3%")82"1&+VTUY@3%,2",#8,46%,6,1("!3&1")"22)83, 1&+$3%""2&$+#,1)81"2"1 %+!"!4 3&,+&+&3&3&5"3,#14&3&,+&+VTU[?+!3%,2",#8,46%,6"1"
1,4+!#,13%",+2"3,#3%&2%/1,'" 36%& %&2+,6+"1&+$&32 ,+ )42&,+?+!3%+(8,4&+!5+ "3, 3%,2",#8,46%,1"/1"/1"!3,"7/),1"2,*"3%&+$+"66&3%&+3%"1"2,#!"2&$+?/)8+! %&)!1"+&+
3%"#4341"B
3,"2&$+ %,,),)!&+$6%,%2""+3%"2,)&!2"#,1))3%",5"/1,'" 3&+&3&3&5"2B ,6"3%")"!"12%&/,#3%"2 %,,)%4$"3%+(8,4#,1"*1 &+$*86%&*2?")&"5&+$&+3%"&*/,22&)"?
24//,13&+$*"6%"+3%&+$26"1"%1!? ")"13&+$6&3%*"6%"+3%&+$26"+36"))?+!"2/" &))83%+(
8,4#,1)682 (+,6)"!$&+$3%"5)4",#!"2&$++!/)8J ,4)!+,3%5"!,+"&36&3%,438,4B
3,,41/13+"12&+&))4+!+!3%" 41&,2&38?&+3"1"23+! (&+$"+ ,4+3"1"!#1,*)),#
8,4?,3%"#,1"+!!41&+$3%"%/1, "22B
3,3%",4+!3&,+6%,%2""+ 14 &)P/13+"1&+/)8P+!#1,*3%"5"18"$&++&+$
1")&2"!3%"5)4",#)&+(&+$!"2&$++!/)8@3%+(8,43,"+2&,*#,1%&2&+5)4)" )*+!/3&"+3
!"*"+,413%3%")/"!3,*("3%"/&" "2#))&+3,/) ""5"+%"8!&!+,3)682#&3&+@3%+(8,43, ,3'"1+"#,1%&24+!8&+$")&"#&+,41',&+3/1,'" 3+!#,1%&2&)&383,/"1 "&5",//,134+&3&"23%"1"23,#
42!1"!+,3"5"+!1"*,43@3%+(8,43,&+&+$"1,$%#,1%"1"+$$"*"+3+! ,**&3*"+33, ,41',&+3/1,'" 32+!#,1%"1&)&383,2(3%"!&##& 4)304"23&,+233%"1&$%33&*"2?+!3%+(8,43,&)) ,//?6%,2"&)&383,9,,*&++!,43,#3%"+,,(2+! 1++&"2,#1"2"1 %%")/"!*"3,&!"+3+!
+11,63%"2 ,/",#3%"%/1,'" 3!41&+$*8/1"I!, /"1&,!B
3,3%"/&3),#%&)!1"+,##& "?6%,62)6821"!83,/)8@3%+(8,43,"33" .',1$?
6%,2"(""++!2313"$& "8"*+$"!3,$12/,3%3%"2%,13I3"1*+!3%"),+$I3"1*/"12/" 3&5"2?+!
3%+(8,43,&*,1!#")!3%,*2"+?6%,2")&!I (33&34!"+! 1,,("!%4*,41)682*!"&3#4+3, 3%&+(&$B
3,3%"1,4/#,1,/"+&+$4/+!"&+$ 41&,42,43+"66823, ,)),13"@3%+(
8,43,3%,2",#8,433%"3,/6%,")&"5"!&+3%"/1,'" 3@3%+(8,43,)),#8,4,+3%"D2%,/#),,1E6%,
*!"3%&+$2%//"+?+!3%+(8,43,)),#8,4&+"36""+6%,*!""5"183%&+$#&33,$"3%"1B
3,%"+3"1+3&,+) %,,),#&))4+!#,1,/"+&+$&32!,,12#,1423,*""33%"1")"7/"132J 3%" %&)!1"+@3%+(8,43,&))"1)&3"+2"+#,1%"1%")/6&3%/)++&+$+!,3&+&+$51&,42/"1*&32?+!
3%+(8,43,&2"3%")3,#3?6%,6") ,*"!4223,& ))86&3%,/"+1*2B
3,)),#8,46%,%5" ,+31&43"!6&3%&+!&2/"+2)"/1,#"22&,+)$4&!+ "),+$3%"68 +!%")/"!3,*("3%&2',41+"8+4+")&"5)""7/"1&"+ "@3%+(8,43,&)'"*&))"1&&2?6%,6&3%%"1
!,6+I3,I"13%33&34!"+!%"1,/"+*&+!$,3*"2313"!6&3%+11,61"2"1 %04"23&,++!1")&23&
1"2"1 %/1,'" 3@3%+(8,43,*8/1&+ &/)24/"15&2,1?++(,$)4?6%,6&3%%&2#&1*")&"#&+3%"
/1,'" 3?&+*"+!&+*8 /&)&3&"2*!"*"!1"3,")&"5"3%3))3%"/&" "26,4)!#))&+3,/) "
"5"+34))8@3%+(8,43,*8/1,'" 324/"15&2,1?&)!""(("1?6%,2" ,+2&!"13&,++!&+5"23&$3&5"
//1, %%2$&5"+*"!""/&+2&$%3&+3,3%"#&")!+!3%"+"36,1(1,4+!!"2&$+?/)8+! %&)!1"+@
3%+(8,43,"33"$$"11&(2"+#,1%"1 ,+ &2"+!33%"2*"3&*" 1&+$#""! (,+3%"*"3%,!
2" 3&,+,#*8*&!I68/1"2"+33&,+@3%+(8,43,4+"),(4!&(2"+#,1%&2/)"2+3)8&+#,1*)$4&!+ "
&+3%"%/1, "22+!&+3%"6,1)!,#1"2"1 %&+$"+"1)@3%+(8,43, "))"%""*6%,6&3%%"1(""+
"8"#,1)+$4$"%2"+241"!3%3*83"732&+,3%13& )"2+!&+3%&23%"2&2 +"1"!+!4+!"123,,!
8/",/)",3%"13%+*82")#?+!3%+(8,43,3%"3%1""/1,#"22&,+))8//,&+3"!,//,+"+3251+!3?
+!1"2,"/23,1##+!,)*"31"+!1"$3#,1"+$$&+$&+3%&2/1,'" 3B
3,3%,2",#8,46%,%5"&+2/&1"!+! %))"+$"!*"&+3%"/1, "22+!%5"3%42""+ ,I 1"3,12,#3%&2/1,'" 3@3%+(8,43,!&3% ("1*++#,1%"1!*&1)"&+3"$1&38&+6,1(&+$6&3%!"2&$+?
/)8+! %&)!1"+@*$13"#4)3%3%!3%",//,134+&383,"7/"1&"+ "%"1&+2/&13&,+)+!&+#" 3&,42
"+"1$83%3%2""+231,+$ 3)823&+3%&2/1,'" 3@3%+(8,43,))3%" ,**&33"!"7/"1326%,%5"
,+31&43"!3,3%"!&1" 3&,+,# %&)!I#, 42"!!"2&$+//1, %&+3%"2"1&"2,#"7/"13&+3"15&"62@3%+(
8,43,26""3+!%")/#4)"3%,+2&$+,1"+!3%",3%"1!4)32+!(&!2&+3%"&!2"*33%"+&5"12&38 ,#18)+!?6%,)"3*""7/"1&"+ "3%"&1*"3%,!2+!/1, "22"2!41&+$*8&+3"1+3&,+)1"2"1 %238&+
3%"?+!3,1"$)2%33%"+&5"12&38,#)3&*,1"?6%,"7/+!"!*82, &)/,)& 8%,1&9,+&+
)3&*,1"@3%+(8,43,)),#8,43J3%"+3"1 3&,+"2&$+Q%&)!1"+,**4+&38J3,13"++
" %")"+?%4)&&)439?51&(22,+?)""'"15"12"++!3%"1"23,#8,46%,%5"%")/"!3, 1"3"
4+!"123+!&+$,#+!/1,*,3"*8/1,'" 3&+3%"#&")!@3%+(8,43,1823&+23"))#,1,41),+$
,+5"123&,+2,43!"2&$+?/)8+! %&)!1"++!#,1)"33&+$*" ,+31&43"3,%"1&*/,13+3,,(
0$")$)"!*/$0@3%+(8,43,.1"+(.33? "+1&(,+$"?13&+833"1 %*&!3+!2/"13%&"2"+
#,1*(&+$241"("/3*8#, 42,+3%"/1 3&2&+$!"2&$+"12&+ ,*/+&"2+!"+241&+$3%33%&21"2"1 %&2 5)4)"+!1")"5+33,3%"*@+!)2,3%+(8,43,))3%"#&3%#4)#,)),6"12,+*8% ",,(/$"
#,1D%&)!I "+31"!"2&$+#,1)8E6%,%5"#,)),6"!?)&("!+! ,**"+3"!,+))3%")&33)"3%&+$2?26")) 23%"*,1"&*/,13+3,+"2?3%3 ,+23&343"%/1, "22B
3,))8,415"/13& &/+32&+*8#&")!234!&"26%,!1"!3,"*1(,+2,*"3%&+$ ,4)!
+,31"5")&+!5+ "@3%+(8,43,3%,2",#8,46%,',&+"!3%"#&123+!5"18"7/"1&*"+3)/&),3234!&"2@
3%+(8,43,))3%" ,,)/)8I!"2&$+234!"+326%, ,+31&43"!6&3%3%"&1&+5)4)"1"#)" 3&,+2+!
3%,4$%32,433%"&1"7/"1&"+ "2,#3%" %&)!I#, 42"!!"2&$+//1, %@3%+(8,43,3%"/1,#"22&,+)
!"2&$+"126%,3,,(3&*",43,#3%"&1428 )"+!123,)"1+,43? ,+31&43"3,+!1"#)" 3,+%,63,
!"2&$+/)8#4)"7/"1&"+ "2#1,* %&)!P2/"12/" 3&5"?+!*,23,#))3%+(8,43,))3%"6,+!"1#4) %&)!1"+#1,*%"+3"1+3&,+) %,,)&+&))4+!?3%"!5"+341"/)8$1,4+!D8$$"1"+E&+1"!"1& &+!
3%"(&+!"1$13"+3"2&$+.1+"%42"3&+,)!&+$?6%,,/"+)8+!%,+"23)86") ,*"!+!1"2/,+!"!3, 3%"!"2&$+"12+!3%"&1 41&,2&38+!&+3"1"23&+6%3&3&2)&("3," %&)!B
3,))*83)"+3"! ,))"$4"2?6%,%5" ,+31&43"!" %&+3%"&1,6+68@3%+(8,43,3%"
!, 3,1)2 %,,)"36""++!6%,%2"+241"! ,+2&23"+ 8+!04)&38&+3%"%/1, "22@
3%+(8,43,))3%"*+82(&))"!/1,#"22&,+)23"2&$+ %,,),)!&+$?6%,%")/"!6&3%))3%"3%&+$2 ++,3#&$41",43@3%+(8,43,*8/)8#4) ,))"$4"233%"#,1)8Q"2&$+?6%, ,+23+3)8
#2 &+3"*"6&3%))3%"!&##"1"+36828,4 +/)8&+)&#"@3%+(8,43,1+2"33,+?6%,%2*!"
*"3%" 41&,42+!&+5"23&$3&5"!"2&$+"1*3,!8@3%+(8,43,&("),1(+2?"+"8%421&&2+!
"))"1&"(,5'"1$?6%,/1,5&!"!*"6&3%3%"/" "+!3%"!"/3%%/1,'" 31"04&1"2+!)2, ',&+"!*"&+*8315")2+! ,+#"1"+ "23,"7/"1&"+ "%,6/",/)"6,1(6&3%!"2&$+?/)8+! %&)!1"+&+
,3%"1/132,#3%"6,1)!@3%+(8,43,3%&)!"(,5 +2"+#,1/3&"+3)822&23&+$&+31+2 1&&+$
*,4+3&+2,#!3+!5"182/" &)3%+(8,43,*8%#")),62++",1)&+?,4&2"5+).(("?1&+"
.))"1+!++*42I"28&+3%"D% 5"E+!,!&).'"1+!&!2"11,))?6%,))#,1*"!2#"?
#4++!6,+!"1#4)2"3%1,4$%,433%"3%1""I8"1I),+$1,))"1I ,23"11&!"3%33%&2%/1, "22%2""+B
3,*8#*&)8?#1&"+!2+!+"&$%,4126%,%5"))24//,13"!*"#1,*23133,#&+&2%"5"+
3%,4$%&362+,3)682"283,4+!"123+!6%3626,1(&+$,+@3%+(8,43,*8*,*#,1%"1 4+"+!&+$?##" 3&,+3"24//,13,#"5"183%&+$!,&+*8)&#"@3%+(8,43,+!"12+!& %")#,1"&+$
6%,8,41"@3%+(8,43,*8#3%"1?*8$1+!*,3%"1+!*8$1+!#3%"16%,$5"*"2,*4 %&+)&#"
6%&)"3%"86"1"%"1"@3%+(8,43,*8"+3&1""73"+!"!#*&)8+!&+I)62#,1)6822(&+$,433%"
/1,'" 3+!)"33&+$*")",+,43"5"183%&+$3%362&*/,13+33,*"!41&+$3%"/1, "22@3%+(
8,43,)),#8,46%,%5")"3*"2/"+!3%"+&$%36&3%8,4!41&+$ ,412"2+! ,+#"1"+ "2,1)"+3*"
8,41%,42",1 ,33$"3,&**"12"*82")#&+61&3&+$@3%+(8,43,, %&*+!%1&23&+#,1 ,*&+$,5"1 +!/)8&+$6&3%42&+3%"@3%+(8,43,&*+!&1$&33"?6%,%5"""+)&("2" ,+!#*&)86&3%
"3"1+))&#")&+"2#,1/1,#"22&,+)3)(?"+ ,41$&+$6,1!2+!&"!*,+36&+"@+!2/" &)3%+(8,43, )"7+!1+!1&"("6%,%5",3%""++"22"+3&)/13,#*8/"12,+)+!/1,#"22&,+)!"2&$+
',41+"83,6%"1"*3,!8B
"+2&!23"?*"+23.123"3&)*&+"+1",$(1"@)42?&5,$+!1"J%1$&5"3*&$)&5?)4#3,$
(1)&$%"!?%1&!1$"3*"!3,22"1&"1?#',))"1&"1?#"23,$$)!"!$"?*"!3&!?/)!2,$1,3&)(412"1?
(,+#"1"+ "1,$1"'2"12*3*22"1#51*"*&+!"1,$(1)&$"(1**"1"C#%'"13"33(=
0+ 0
E8E E
%))"+$"2+!11&"12 U
+ "22&)"(+,6)"!$" U
&*&3"!1")"5+3"!4 3&,+ V
+#*&)&1&386&3% %&)!1"+ V
+61"+"22,#/,3"+3&) V
$),) %))"+$"> W
%))"+$"2&+3%"3,8&+!42318 W
"6!"*+!2&+3%"3,8&+!42318 W
E8F H
1,'" 32 ,/" Y
"2"1 %04"23&,+ Y
"2"1 %/1, "22 Y
"2"1 %*,3&53&,+ Z
,+ "/3 )1&#& 3&,+ Z
E8G K
7&23&+$&+&3&3&5"2 [
&!2"*2+&+3"1$"+"13&,+)!"2&$+3"* [
%&)! ,*/43"1&+3"1 3&,+$1,4/ \
+3"1 3&,+"2&$++!%&)!1"+ \
,+3"73*//&+$6&3% %&)!1"+ ]
,,)(&3#,1 ,I!"2&$+ 3&5&3&"26&3% %&)!1"+ ]
*,2& //1, %#,14+!"123+!&+$ %&)!1"+ UT
&#"),+$&+!"1$13"+ UT
"2&$+&+$#,1(&!2 UU
"2&$+&+$#,1%&)!1"+P2&$%32 UU
" ,**"+!3&,+2#,1!"2&$+&+$#,1/)8#4)"7/"1&"+ "2#,1 %&)!1"+ UV
,&+3,3%" ,+3"73,# %&)!1"+ UV
+3"1 36&3% %&)!1"+ UV
&5"5,& "3, %&)!1"+ UV
%&)!1"+2"7/"132 UV
,3"+3&)2?$/2+!#&+!&+$2 UW
+"7/),1"!/,3"+3&)2 UW
&+!&+$2#1,*3%""7&23&+$&+&3&3&5"2 UW
E8H EH
1+ 06
F8E EK
4)&33&5"+!"7/),13,181"2"1 % U[
%1 3"1&23& 2,#04)&33&5"1"2"1 % U[
04)&33&5"234!8,#3%" %&)!I "+31"!!"2&$+//1, % U\
"#&+&+$"7/),13&,+ U\
7/),13&,+,#3%" %&)!I "+31"!!"2&$+//1, % U\
"2"1 %3%1,4$%!"2&$+ U]
&23,1& )"23)&2%*"+3 U]
"2"1 %3%1,4$%+!#,1!"2&$+ U]
1 3& "I2"!!"2&$+1"2"1 %+!,+2314 3&5"!"2&$+1"2"1 % VT
"2&$+"1I/1 3&3&,+"1I1"2"1 %"1 VT
+$$&+$&+4+"7/),1"!2/ "2 VT
"2&$+1"2"1 %3%1,4$%/1 3& " VU
*$&+&+$+"61")&3&"23%1,4$% ,+2314 3&,+ VV
"2&$+"7/"1&*"+32&+/1,$1**3& !"2&$+1"2"1 % VV
1,$1**3& !"2&$+1"2"1 % VV
,+#1,+3&+$3%"/1,$1* VW
"2&$+"7/"1&*"+32 VX
4I/1,$1*2&+2"1&)2"34/ VX
1,*/1,$1*+!"7/"1&*"+323,!"#&+&3&,+2+!3%",18 VY
7/),1&+$3%" ,+2"04"+ "2,#D6,1)!5&"62E VY
(&+$!"#&+&3&,+23%1,4$%!"2&$+ VZ
%" %&)!I "+31"!!"2&$+//1, %24&)!&+$), (2#,1*(&+$3%",18 V[
F8F FL
%" ,1",#3%"3%",18 V\
',&+3,/"13&,+ V\
%",1"3& )1")"5+ "+!23413&,+ V\
34!8&+$3%"/%"+,*"+,+,#3%" %&)!I "+31"!!"2&$+//1, % V]
%" ,*/13&5"*"3%,! V]
F8G GD
"2&$+&+$3%"#4341"3%1,4$%!"2&$+1"2"1 % WT
,61!,//,134+&38*(&+$ WU
2314 341"!/1, "22&+"7/),13,181"2"1 % WU
/"+"7/),13&,++!2314 341"!+)82&2 WU
1,4+!"!%",18+!!"2&$+1"2"1 % WU
/"++!2823"*3& WV
2+ 23
G8E GH
%/&+$!&1" 3&,+23%1,4$%"7/"13&+3"15&"62 WX
"3%,!2#,1&+3"15&"6&+$"7/"132 WX
%"&+3"15&"6"!"7/"132 WY
+)82&2+!#&+!&+$2#1,*3%""7/"13&+3"15&"62 WY
1,*"7/"13&+3"15&"623,1"2"1 %!"2&$+ WZ
G8F GK
+31,!4 3&,+ W[
&*2+!/41/,2"2 W[
3%& ) ,+2&!"13&,+2 W[
"2&$+,#3%" %&)!I "+31"!!"2&$+*"3%,!2 W\
+3"1+2%&/2 %&)! W]
,I 1"3&+$3%")&#",# %&)! W]
,*/1&+$ %&)!/"12,+ W]
1*&+$3%"!"2&$+"7/"1&*"+32 XT
/1,$1**3& #1*"6,1(#,1!"2&$+"7/"1&*"+32 XT
%" ,1",#3%"!"2&$+"7/"1&*"+32 XT
"04"+ ",#3%" %&)!I "+31"!!"2&$+ 3&5&3&"2 XT
, 4*"+33&,+,#!"2&$+"7/"1&*"+32 XU
%"2"1&"2,# ,+!4 3"!#&")!234!&"2 XU
1&3&,+2&+#&")!234!&"2+!!"2&$+"7/"1&*"+32 XU
G8GENF HI
+31,!4 3&,+3,&),334!&"2U^V XY
, 42/,&+32,#3%"/&),3234!&"2 XZ
3"+!5"+4",#3%"234!8 XZ
13& &/+32&+3%"234!8 XZ
34!8")"*"+32&+&),334!&"2U^V X[
D+3"1+2%&/2 %&)!EJ&+/1&53"%,*"2 X[
D,I 1"3&+$3%")&#",# %&)!E6&3%3%" %&)!1"+ X\
%"42",#!&##"1"+3,7"2,#*3"1&)2 X]
314 341",#3%" 3&5&3&"2 YT
%"%,*")&("2"34/ YU
%"# &)&33&,+,#3%"/1, "22 YU
%&)!1"+2/13& &/+32 YU
%"*&7,#//1, %"2 YV
, 4*"+33&,++!31 (&+$&+&),334!&"2U^V YV
//&+$,#3%"!"2&$+/1, "22 YW
+2&$%3 1!2231 (&+$3,,) YW
3+)82&2,#&),334!&"2U^V YX
34+&32 YX
32314 341" YX
"2"1 %#&+!&+$2 YY
" ,**"+!3&,+2#,1242"04"+3234!&"2 YZ
G8HG IL
+31,!4 3&,+3,&")!34!8W Y\
34!8 ,+!&3&,+2+!/13& &/+32 Y\
34!8 ,)),13,1+!/13& &/3&+$ %&)!1"+ Y]
34!8")"*"+32&+&")!34!8W Y]
+31,!4 &+$ %&)!I "+31"!!"2&$+//1, % Y]
D+3"1+2%&/2 %&)!EJ&++#3"1I2 %,,)2"33&+$ Y]
,I 1"3&+$3%")&#",# %&)!3,$"3%"1 ZU
,*/1&+$ %&)!/"12,+2 ZV
, 4*"+33&,++!1 (&+$&+&")!34!8W ZW
%"42",#"2&$+/1, "22231&/2 ZW
1,*D&+2&$%3 1!2E3,D1"#)" 3&,+ 1!2E ZY
&("13 )"415"8 ZZ
,)),6I4/&+3"15&"626&3%/13& &/+32 Z[
3+)82&2,#&")!34!8W Z]
34+&32 Z]
%"//)& 3&,+,#1,4+!"!%",18*"3%,!,),$8 Z]
%"!32314 341" [T
D,+23+3 ,*/13&5"+)82&2E [U
"2"1 %#&+!&+$2 [W
" ,**"+!3&,+2#,1+"73234!8 [X
G8IH KJ
+31,!4 3&,+3,&")!34!8X [Z
34!8 ,+!&3&,+2 [Z
34!8/13& &/+32 [[
34!8")"*"+32&+&")!34!8X [\
D+3"1+2%&/2 %&)!EJ&+/1&53"%,*"2 [\
D+3"1+2%&/2 %&)!EJ3+!5"+341"/)8$1,4+! []
,I 1"3&+$3%")&#",# %&)!6&3%(&+!"1$13"+ %&)!1"+ \T
, 4*"+33&,++!31 (&+$&+&")!34!8X \U
%" %))"+$",#3%""2&$+/1, "22231&/2 \U
/"12,+)1"#)" 3&,+(&3 \V
,+!4 3&+$*"3I1"#)" 3&,+ \V
,)),6I4/04"23&,+2#,13%" %&)!1"+ \X
,)),6I4/04"23&,+2#,13%"!"2&$+"12 \Y
3+)82&2,#&")!34!8X \[
34+&32 \[
3413&,+,#!3 \[
"2"1 %#&+!&+$2 \\
G8J LL
,+ )4!&+$+)82&2 \\
13& &/3&+$$1,4/2 \]
&##"1"+338/"2,#!3 ]T
(I+!I#,13%/1, "22 ]T
3413&+$3%"3%",18 ]U
,+ )4!&+$#&+!&+$2 ]U
5"15&"6,##&+!&+$2 ]U
+3"$13&5"!&$1*,# ,+ "/32 ]V
3+ 75
H8E MJ
1,4+!"!%",18//1, %3,3%",1"3& ))&3"1341" ][
")" 3&,+,#3%",1"3& ))&3"1341" ][
H8F= 5
ML
%"&+I"36""+31!&3&,+)+!/1,$1"22&5""!4 3&,+ ]\
1!&3&,+)52B/1,$1"22&5""!4 3&,+ ]\
4)&38,#3%""7/"1&"+ " ]]
,+3&+4&38+!&+3"1 3&,+ ]]
7/"1&"+ "22,41 ",#!"5"),/*"+3 UTT
%1 3"1&23& 2,#D"7/"1&"+3&))"1+&+$E UTT
%""7/"1&"+3&))"1+&+$ 8 )" UTU
"#)" 3&,+4/,+241/1&2"2&+"7/),13,18"7/"1&*"+32 UTU
D7/),13,18"7/"1&*"+32E UTV
7/"1&"+ ",#241/1&2"2 UTV
&+!&+$2#1,*3%"3%",1"3& )/"12/" 3&5",#3%"!"2&$+"1 UTX
H8G=<5<EDH
7*&+&+$3%"#&")! UTX
&23,18,#3%"42"1&+!"2&$+ UTX
,2&3&,+2&+3%"#&")! UTY
1 3& "52B !"*& UTY
1,*3,,)2+!*"3%,!23,*&+!2"3+! 4)341" UTZ
,,)2?*"3%,!2+!3" %+&04"2 UTZ
%"/"12/" 3&5"2,#*(&+$ UTZ
"+"13&5"3,,)(&323,"7/1"22)&#" UT[
"2&$+&+$I6&3%C UT]
&+!2"3+! 4)341" UT]
3$"2?/%2"2+!/1, "22"2 UUU
%"!"5"),/*"+323$"2 UUU
%"D#4998#1,+3"+!E UUU
%""73"+!"!!"2&$+/1, "22 UUU
1"5&2"!#1*"6,1( UUV
1,*11&"123,,//,134+&3&"2 UUV
11&"12&+&+!42318 UUV
%"+""!#,142"1/"12/" 3&5" UUW
/2+!#4341",//,134+&3&"2 UUW
&+!&+$2#1,*3%"3%",1"3& )/"12/" 3&5",#!"2&$+ UUX
H8H = EEI
%&)!1"+&+3%"&1+341)6,1)!2 UUY
2"15&+$ %&)!1"+J,432&!",#2 %,,)2"33&+$2 UUY
%,,2&+$/"12/" 3&5" UUZ
%&)!1"+2 ,*/"3"+3/13& &/+32 UU[
%"3")&"1+!3%"3")&"1&23& UU[
%"1&$%3 ,+!&3&,+2#,1!"5"),/&+$6&3% %&)!1"+ UU[
%&)!1"+E2&$%32 UU]
%"1&$%33,/)8?/13& &/3&,++!"7/1"22&,+ UU]
%"!!"1,#13& &/3&,+ UVT
%"3&,+),4+ &)#,1%&)!1"+ UVT
&+!&+$2#1,*//)8&+$3%"3%",1"3& )/"12/" 3&5",#3%" %&)! UVU
H8I= EFF
"2&$++!+3%1,/,),$8 UVV
"3%,!,),$& )+!!&2 &/)&+18/,2&3&,+&+$ UVV
1,*/1,)"*I,1&"+3"!3,2(&))2,#"+$$"*"+3 UVW
,,)2#,113& 4)3&,+ UVW
+3%1,/,),$86&3%C UVW
"2&$++3%1,/,),$8 UVX
%""5"18!8)&5"2,#42"12 UVX
,,)2#,1&+3"15"+3&,+ UVY
%" ,)),13&5"#&")! UVY
+"73"+!"!3&*"%,1&9,+ UVY
%"#4341"2,#!"2&$++3%1,/,),$&"2 UVZ
+$$&+$6&3%3%&+$2 UVZ
"8,+! ,*&+&+$*"3%,!2 UV[
&+!&+$2#1,*3%"3%",1"3& )/"12/" 3&5",#3%""5"18!8)&#" UV[
H8J EFK
,+ )4!&+$#&+!&+$2 UV\
*,!"),#3%",1"3& )#&+!&+$2 UV\
")3&,+2"36""+3%"3%",1"3& )#&+!&+$2 UV]
4+/ 020
I8E < EGF
%"$1,4+!"! ,+ "/32"7/)&+"!3%1,4$%"7&23&+$)&3"1341" UWV
%""#)" 3&5""2&$+"1 UWW
2%1"!2/ " UWX
&3% %&)!1"+ UWY
%1&+$+%,+"23!&),$4" UWZ
*&)&12411,4+!&+$2 UW[
%" %&)!23%""7/"13 UW[
%"&++"1!1&5" UW\
7/"1&"+ &+$4+"7/" 3"!241/1&2"2 UW]
%"&+#)4"+ ",# %&)!I "+31"!!"2&$+//1, %,+3%"!"2&$+"1E2*&+!2"3 UXT
1,*"7/"1&"+ "23,241/1&2"2 UXU
1,*241/1&2"23,1"#)" 3&,+2 UXU
1,*1"#)" 3&,+23, %+$"2 UXU
"#&+&3&,+&+3%"*(&+$ UXU
%1 3"1&23& 2,# %&)!I "+31"!!"2&$+//1, % UXV
"#&+&3&,+24&)!&+$), ( UXW
&*&33&,+2,#3%"1"2"1 %&+3%" %&)!I "+31"!!"2&$+//1, % UXX
"+"1) %))"+$"2&+04)&33&5"1"2"1 % UXX
4)341)!&##"1"+ "2 UXY
%"1,)",#+"7/"13 UXY
,33%",+"+!,+)8//1, % UXY
%,13I3"1*&*/ 3 UXZ
I8F < EHJ
%&)!I "+31"!!"2&$+*"3%,!2&+/1 3& " UXZ
"#)" 3&,+,+3%"D&+3"1+2%&/2 %&)!E2*"3%,! UXZ
"#)" 3&,+,+ ,I 1"3&,+2*"3%,! UX\
"#)" 3&,+,+ ,*/1&+$ %&)!I/"12,+2 UYU
1 (&+$3,,)2&+!"2&$+1"2"1 % UYW
"#)" 3&,+,+3%""2&$+/1, "22231&/2 UYW
"#)" 3&,+,+3%"1"#)" 3&,+3,,)2 UYX
3%& )1"#)" 3&,+2 UYY
)++"! 3&,+2+!4+/)++"!"7/"1&"+ "2 UYY
3%& )1" ,**"+!3&,+2 UYZ
I8G < EIJ
,+31&43&,+23,!"2&$+1"2"1 % UYZ
4&)!&+$4/,+3%")+!2 /" UYZ
!!&+$3,3%"!"2&$+/1, "22 UY[
1,5&!&+$*4)3&/)"/"12/" 3&5"2 UY\
,2&3&,+&+$&+3%"1"2"1 %#&")! UY]
" ,**"+!3&,+2#,13%"!"2&$+&+!42318 UZT
423!,&3 UZT
,&3"1)8&+3%"/1, "22 UZU
,&36&3% %&)!1"+ UZU
,&33%1,4$% 1"3&,+ UZU
*/)& 3&,+2#,1!"2&$+"!4 3&,+ UZV
"1+&+$3,$"3%"1 UZV
" %&+$#,1*&+!2"3 UZV
&1" 3&,+2#,1#413%"11"2"1 % UZV
%" %&)!I "+31"!!"2&$+*"3%,!2&+,3%"1 ,+3"732 UZV
%"&+#)4"+ ",+3%"/1,!4 3 UZW
%" %&)!I "+31"!!"2&$+//1, %,5"13&*" UZW
053
057
7/"13&+3"15&"62 UZ]
13& &/3&+$"7/"132 UZ]
7/"13233"*"+32 UZ]
&")!234!8*3"1&)2 U[T
,I 1"3&,+,7 U[T
%&)!I/"12,+3"*/)3" U[U
"2&$+/1, "22231&/2 U[V
"#)" 3&,+ 1! U[W
"#)" 3&,+(&3 U[W
+)82&2/1, "22 U[X
,*/1&+$&+ &!"+32//)& )"3," % 3"$,18 U[X
+3"$13&+$ 3"$,1&"2+!3%"&1/1,/"13&"2 U[Y
")&*&3&+$3%"3%",18 U[Y
1&3&+$3%",18 U[Z
423+3&5"3%",18 U[\
U
E8
%&2!&22"133&,+&*23,"7/),1"6%3 %&)!I "+31"!!"2&$+//1, %&2+!234!8%,63%"
//1, %&+#)4"+ "2!"2&$+"12&*&+$3!"2&$+&+$/)8#4)"7/"1&"+ "2#,1 %&)!1"+B3"7*&+"2
%,6 %&)!I "+31"!!"2&$+//1, % +1&+$!"2&$+"12+! %&)!1"+3,$"3%"1# &)&33"!8 %&)!I "+31"!!"2&$+*"3%,!2+!$"+"13&5"3,,)23,&+ )4!"!&##"1"+3(&+!2,#"7/"1&"+ "2+!
"7/"13&2"&+2%1"!4+!"123+!&+$,#3%" %&)!E2/"12/" 3&5"B%&2&+31,!4 3,18 %/3"1 /1,5&!"23%" ($1,4+!#,13%"%/1,'" 3+!,43)&+"23%"1"2"1 %/1,'" 3B%"1"2"1 %
#&")!&2 ,4+3"!#,13%1,4$%"7&23&+$&+&3&3&5"2&+3%"1",#!"2&$+?/)8+! %&)!1"+B%"
#&+)2" 3&,+/1"2"+323%"2314 341",#3%"!&22"133&,++!3%"2"04"+ "+!3%" ,+3"+32,#3%"
#&5"*&+ %/3"12B
E8E
%&22" 3&,+,#3%"&+31,!4 3&,+/1,5&!"23%" ($1,4+!+!*,3&53&,+#,1!,&+$1"2"1 %&+3, 3%" %&)!I "+31"!!"2&$+//1, %8/,&+3&+$,432,*",#3%" %))"+$"2+!11&"12&+3%"
&+!423183%3!"2&$+2/)8"7/"1&"+ "2#,1 %&)!1"+B
%"%/1,'" 3,+!"5"),/&+$ %&)!I "+31"!!"2&$+//1, %,1&$&+3"2&+3%"/1,'" 3A 4#,1
"2&$+Q)8EJ+&+!42318234!8,+/)8I!"2&$+&+$ ,*/+&"2&+"+*1(6%& %"7*&+"!3%"
&+!42318E2#,4+!3&,+2#,1!"2&$+&+$/)8#4)"7/"1&"+ "2#,1 %&)!1"+L"!"1?VTUWMB%"234!8 2%,6"!3%" ,*/+&"2E2&+ "1"+!%"13#")3/22&,+#,1!"2&$+&+$%&$%I04)&38/)8"7/"1&"+ "2
#,1 %&)!1"+?43&3)2,1"5")"! %))"+$"2+!11&"123,1" %&+$#4))/,3"+3&)&+!"2&$+&+$
1")"5+3/)8"7/"1&"+ "23%33("3%"&1/,&+3,#!"/1341"&+3%" %&)!B%"234!8&+!& 3"!3%3
*,23,#3%"!"2&$+"12&+3%" ,*/+&"26,4)!)&("3,#, 42,+ %&)!1"+&+3%"/1,!4 3
!"5"),/*"+3/1, "22?435"18#"6,#3%"* 34))8!&!L"!"1?VTUWMB%"*,23 ,**,+68
#,13%" ,*/+&"23,&+ )4!" %&)!1"+&+!"2&$+,#/)8623,)"33%" %&)!1"+%")/3"233%"
/1,!4 36%"+&3%!1" %"!3%"/1,3,38/"23$",13,&+5&3" %&)!1"+&+6%"+/& 341"26"1"
$,&+$3,"3("+#,13%"/1,!4 3 3),$4"B%"&+!42318234!8L"!"1?VTUWM+!2&*&)1
&+&3&3&5"2L)82"1?"2&$+ %,,),)!&+$Q/&3),#%&)!1"+&))4+!?VTUZM@L"2&$+#,1 )8?VTU[M1"5")"!2,*",#3%"1"2,+26%8 %&)!1"+1"+,3*,1"&+3%" "+31",#3%"
!"5"),/*"+3/1, "22"26%"+ ,*/+&"21"!"2&$+&+$/)8"7/"1&"+ "2A&+ "22&)"
(+,6)"!$"?)&*&3"!1")"5+3"!4 3&,+?4+#*&)&1&386&3% %&)!1"++!4+61"+"22,#3%"
/,3"+3&),# %&)!1"+E2&+/43B%"2"&!"+3&#&"! %))"+$"2+!11&"121"24**1&9"!&+3%"
#,)),6&+$2" 3&,+B
"&&(!-(,,#,-
5"+3%,4$%3&*"+!*,+"8 +"5)&!+!1"2,+)" ,+ )42&,+,+6%8 ,*/+&"21"
%"2&3+33,6,1(&+42"1I "+31"!*++"1L+!"12Q3//"12?VTT\M3%"/1"5&,42)8*"+3&,+"!
234!&"2&+!& 3"!,3%"1+!*,1" ,*/)"71"2,+2J!&##& 4)38#,13%"&+!42318,#$&+&+$ "22 3,(+,6)"!$",+!"2&$+&+$ %&)!1"+E2/)8"7/"1&"+ "2@)&*&3"!"!4 3&,+&+1")"5+3+!
//)& )"3,,)2+!*"3%,!2#,1//)8&+$ %&)!I "+31"!!"2&$+//1, %"2@4+#*&)&1&386&3%
%&)!1"++!3%"&1"5"18!8)&5"2+!3%" ,+3"733%"81"!"2&$+&+$#,1+!?#&+))8?+
4+61"+"22,#3%"/,3"+3&),#!,/3&+$ %&)!I "+31"!!"2&$+//1, %&+3%""$&++&+$,#
3%"/1, "22B%"2"1"2,+21""),13"!,+&+3%"2" 3&,+2"),6B
+ "22&)"(+,6)"!$"
%"#&")!,# !"*& 1"2"1 %&+3%"1",#!"2&$+&+$/)8#,1 %&)!1"+&2"73"+2&5"+!
$1,6&+$B%" %))"+$"&23%"1"#,1"+,3) (,#/1,!4 "!(+,6)"!$"?433%"&)&38,#3%"
,*/+&"2&+3%"&+!423183,&!"+3+!), 3"3%"1")"5+3(+,6)"!$"#,12/" &#& 2&343&,+2&+
3%"!"2&$+/1, "226&3%&+3%&2%4$"*,4+3,#1"2"1 %B%&2&2#413%"1 %))"+$"!83%"
V
)+$4$" ,*/)"7&38+!3%" !"*& 68,#61&3&+$//"12?1"/,132+!,,(2?6%& %&2,#3"+
&*"!31"2"1 %"12,1,3%"1 !"*& ))8"!4 3"!"7/"132+!1"3%"1"#,1"+,3)682 24&3)"#,13%"%+!2I,+/1 3&3&,+"12&+3%"&+!42318L"!"1?VTUWMB%&2)"!23,),3,#
/1,!4 "!(+,6)"!$"+,3"&+$42"!6%"1"&3&2+""!"!+!+"+3&1"&+!423186&3%,43 "223, 3%"(+,6)"!$"1")"5+3#,13%"*3,24//,133%"&1/1,!4 3&,+,#%&$%I04)&38/1,!4 32+!
"7/"1&"+ "2#,1 %&)!1"+B
&*&3"!1")"5+3"!4 3&,+
%"/1,)"*&2+,3'423&+ "22&)"(+,6)"!$"?433%") (,#,//,134+&3&"2#,13(&+$,+
"!4 3&,+6&3%&+3%&2#&")!,#(+,6)"!$"B5"+3%,4$%3%"!"2&$+"122&!3%"86,4)!)&("3, /1&,1&3&2"3%"&+5,)5"*"+3,# %&)!1"+&+!"2&$+#,1/)83%"81"+,31"))8"04&//"!3,!,&3B+
*+8 2"23%"&1/1"5&,42"7/"1&"+ "2&+42&+$#*&)&1*"3%,!2#1,*42"1I "+31"!!"2&$+6&3%
!4)32?24 %2&+3"15&"62?04"23&,++&1"2+!42"12415"82?%5"+,36,1("!6&3% %&)!1"++!
3%""7/" 3"!,43 ,*"+"5"1*3"1&)&2"!B%"8) (/1 3& )!"2&$+*"3%,!23,%")/3%"*&+
3%"&1"##,133,&+5,)5" %&)!1"+&+3%"!"5"),/*"+3/1, "22+!3%"8!,+,3(+,6%,63,$&+
"223,3%"*L"!"1?VTUWM@L)82"1?"2&$+ %,,),)!&+$Q/&3),#%&)!1"+&))4+!?
VTUZM@L"2&$+#,1)8?VTU[MB
%&2&224"/,&+323,3%"+""!#,1*,1"3" %&+$+!$4&!&+$6&3%&+3%&21"?2&+ "+, ,412"2,1 ,3%"1$4&!+ "&+!"2&$+&+$/)8#,1 %&)!1"+%2""+5&))"B&*&)1)8?+,%&$%"1"!4 3&,+
&+2314 3&,+"7&2323,3" %!"2&$+"123," ,*"2/" &)&232&+!"2&$+&+$/)8#,1 %&)!1"+B
%"1"#,1"&3%2+,3""+/,22&)"#,13%"&+!423183,"*/),8!"2&$+"122/" &)&2"!&+/)8&+3%"
,*/+&"2B+23"!?3%" ,*/+&"2%5"%!3,#"+!#,13%"*2")5"23,#&$41",43%,63,&+5,)5"
%&)!1"+?+!&+*,23 2"23%"1"24)3%2""+3%33%" ,*/+&"2%5"+,33("++8
&+&3&3&5"2?,#3"+6&3%,43"5"+1")&2&+$6%33%"81"*&22&+$,43,+B%&2&224" ,4)!"
!!1"22"!8/1,5&!&+$&+I!"/3%"!4 3&,++!2/" &#& ,412"2&+%,63,!"2&$+#,1 %&)!1"+
,##"1"!&+1")"5+32314 341"#,13%"/1 3&2&+$!"2&$+"12B
+#*&)&1&386&3% %&)!1"+
%" %))"+$"2+!11&"12*"+3&,+"!,5"1"+,3,+)8(""/&+$3%"!"2&$+"12&+3%"
,*/+&"2#1,*$&+&+$1")"5+3(+,6)"!$"?3,,)2+!*"3%,!2?433%"8)2,/1"5"+33%"
&+5,)5"*"+3,# %&)!1"+&+3%"!"2&$+/1, "22B,*"!"2&$+"12&+3"15&"6 %&)!1"+,436%3 3%"8)&(",1&+5&3"3%"*&+3,3"233%"/1,!4 3&+3%"#&+)23$",#3%"!"5"),/*"+3/1, "22?43 5"18#"6,#3%"*2"" %&)!1"+23%" "+31",#3%"&1!"2&$+/1, "22B%"81"+,361",#3%"
/,3"+3&),#*,5&+$3%"#, 42#1,*3%"/1,!4 33,3%"42"1?+!%5"+,/1"5&,42"7/"1&"+ "2 6&3%3%"5)4",#"+$$&+$ %&)!1"+&+3%"!"2&$+/1, "22L2""%,3,U3/$"XMB&*&)1)83%"8 1"+,3"7/),1&+$3%""5"18!8)&#",# %&)!1"+,1&+5,)5&+$3%"*2")5"2&+3%" ,+3"73,#6%,3%"8 1"!"2&$+&+$#,1L"!"1?VTUWMB%&2)"!23,3%"04"23&,+,#6%"3%"1&3&2/,22&)"3, 1"3"
&++,53&5"+!1")"5+3/1,!4 326&3%,43+84/I3,I!3"&+2/&13&,+#1,*+!4/!3"!
(+,6)"!$",433%"31$"3$1,4/+!&32"5"18!8)&#"L+!"12Q3//"12?VTUVMB
"2&$+"121"+,3"7/" 3"!3,%5"/1,#"22&,+)"7/"1&"+ "6&3% %&)!1"+&+1")3&,+3,!"2&$+?
"5"+3%,4$%3%"81""*/),8"!3,!"2&$+#,1 %&)!1"+B%&2 ,4)!"!!1"22"!8!"5"),/&+$
*"3%,!2+! 3&5&3&"2#,1"&+$6&3% %&)!1"++! (+,6)"!$&+$3%"&*/,13+ ",#2"33&+$4/
,//,134+&3&"23,2/"+!3&*"6&3% %&)!1"+?+,3'4232/13,#2/" &#& !"5"),/*"+3/1, "22?
436&3%3%"/41/,2",##*&)&1&2&+$3%"*2")5"26&3% %&)!1"+&+$"+"1)B
+61"+"22,#/,3"+3&)
%,2" ,*/+&"23%3*+$"3,&+5,)5" %&)!1"+3"+!3,!,&3)3"&+3%"!"2&$+/1, "22?6%"1"
3%"1"&2*,1",1)"22#&+&2%"!/1,!4 33,3"23B%"!"2&$+"12'423S%&28 )&*&+$3%33%"
/1,!4 3*423"#&+&2%"!3,+"73"+33%3 %&)!1"+ + 34))8318&3,43+!/1,5&!" ,+ 1"3"
W +!42"#4)#""! (L"!"1?VTUWML)82"1?"2&$+ %,,),)!&+$Q/&3),#%&)!1"+
&))4+!?VTUZMB%" %))"+$"&23%3&#?33%&2/,&+3?&3341+2,433%33%"/1,!4 3&2+,36,1(&+$
/1,/"1)8?3%33%" %&)!1"+1"+,3&+3"1"23"!&+&32"7/" 3"!,13%33%"/1,!4 32,*"%,6
!,"2+,3)&5"4/3,3%""7/" 33&,+2?3%"+3%&2#&+!&+$"*"1$"25"18)3"&+3%"!"5"),/*"+3 /1, "22B%" ,+2"04"+ " +"3%33%"!"2&$+"12%5"3,$, (+!2/"+!3&*" %+$&+$
3%"!"2&$+?,1?&+6,123I 2"2 "+1&,?3%"/1,!4 36&))%5"3,"!&2 1!"!)3,$"3%"1+!3%"
!"2&$+/1, "22%23,2313)),5"1B3&2 ,23)8#,13%" ,*/+&"2+!623"23&*"3%3 ,4)!
%5"""+"33"12/"+3B+24 % 2"2?"1)8&+5,)5"*"+3,# %&)!1"+ ,4)!%")/3,&!"+3 %))"+$"2"1)&"1&+3%"/1, "22?,1/"1%/21"24)3&+3%"!"5"),/*"+3,# ,*/)"3")8!&##"1"+3 +!*,1"1")"5+3!"2&$+&!"L))&2,+?U]]\MB%&21&2"23%"04"23&,+,#%,6"1)8&+3%"
/1, "22 %&)!1"+2%,4)!"&+5,)5"!J+!%,6"1)83%"!"2&$+"12%,4)!"&+5,)5"!&+3%"
%&)!1"+P2"5"18!8)&#"B
%&2 %))"+$" ))2#,1+&+ 1"2"!61"+"22,#3%"/,3"+3&),#3(&+$3%"2313&+$/,&+3&+3%"
%&)!1"++!3%",//,134+&38#,13%" ,*/+&"23,"7/"1&"+ "3%&268,#,/"13&+$&+1")3&,+
3,!"5"),/*"+3/1, "22B31"04&1"23%"&+31,!4 3&,+,#*,1",/"+I"+!"!//1, %3,3%"
!"2&$+/1, "223%3*+$"23,!163%"!"2&$+"12E33"+3&,+3,3%"/,3"+3&),#&!"+3&+$
1")"5+3!"2&$+,//,134+&3&"23,$"3%"16&3% %&)!1"+B
!&)&"&&(!4
%",5" %))"+$"2+!11&"121"&!"+3&#&"!&++&2% ,+3"736%& %1&2"23%"04"23&,+,#
6%"3%"13%&2&21"/1"2"+33&5",#,3%"1 4)341"226"))B3%2+,3""+/,22&)"3,#&+!2&*&)1
&+!42318234!&"2!,+"&+,3%"1 ,4+31&"2?432,*"&+!& 3&,+2,#2&*&)1 %))"+$"21"&!"+3&#&"!
&+3%"#,)),6&+$2,41 "2B
%))"+$"2&+3%"3,8&+!42318
%",82/1,'" 3%2""+"23)&2%"!8 ,*/+&"2+!,1$+&23&,+2&+/&+?,*+&?
1"" "+!3)8#4+!"!83%"41,/"++&,+E2 ,1&9,+VTVT"2"1 %+!++,53&,+1+3B
%"/1,'" 3,1&$&+3"!&+ %))"+$"2L,82?VTU]M&!"+3&#&"!&+2*))+!*"!&4*I2&9"!3,8 ,*/+&"2LM&+3%"*"*"1 ,4+31&"2A
A*( 11# !2)( )1'#'' )" 0*!1# 1*6()2!12/$)"$)201/6 I#$"# *010 1* / 00 *6 ! 16 $002 0< *(- 1$1$*) 4$1# '/" !$/(0<
*- /1$*) $) !/"( )1 (/& 10< #$"# !$'2/ /1 0 *! ) 4 -/*210< '1 / 0-*)0 1*(/& 11/ )0)201*($01$*)) 0J<KL$)*/ /1* 3 '*-)
$))*31$3 --/*# $($)" 1 C/ !$)$)" 1# "( D 01/ )"1# )$)" 1#
-*0$1$*)*!0$)1# 1*6()2!12/$)"$)201/6?B
%"/1,'" 3&2$,&+$3,&+31,!4 "+&++,53&,+*,!")3,24//,133%" 1"3&5"/1, "22+!
/1,!4 3&,+"36""+23("%,)!"123%1,4$%A*F/ 1$*)<*F 0$")) )1/'$7 -/*21 -/*1*16-$)"BL,82?VTU]M3,*("+"6+!&++,53&5"3,82+!$*"2B%" %))"+$"2+!
3%"/1,'" 31")2,!"2 1&"!&+3%"//"1D*/,6"1&+$1,!4 3,I 1"3&,+//1, %"2 3%1,4$%42&+"22+3"1,/"1&)&38,+ "/32A%",8+!423182"EL& %)&32&I211,4?"3)B?
VTU]MB%"//"1%&$%)&$%323%3?D)3%,4$%ZZ]*!1*6()2!12/$)"*(-)$ 0/ 0<1#
1*6(/& 1$0*($)1 6'$($1 )2( /*!(00$3 "'*'/)0B@43?3%"//"1
"*/%2&9"2?3%"2*))"13,8 ,*/+&"2%5"3%"/,3"+3&)3,"+%+ "3%"&142&+"223%1,4$%
,)),13&,+L& %)&32&I211,4?"3)B?VTU]?/B231 3MB
"6!"*+!2&+3%"3,8&+!42318
+3%"//"1D"2&$++$"*"+3&+3%",8+!42318A2"34!&"2+"2&$++2"13&,+#,13%"
"5"),/*"+31, "22&+19&)&+,8,*/+&"2EL"1++!"2?5) +3&?Q+!1!"?VTU[?/BUM 3%"43%,12"*/%2&2"2,*",#3%" %))"+$"2A
X
A$& *1# /0 "( )10<1# 1*6$)201/6$0'0*(*$!6$)"1*( 1) 4 ()0<
0 &$)"1* 3 '*-"( 0)1*60'$") 4$1#1# *)1 (-*//6#$'?B ,!!1"223%&2 %))"+$"?!"2&$+&2/1,/,2"!2683,&*/1,5"3%"04)&38,#3%"3,8
!"5"),/"!81&+$&+$!&##"1"+3//1, %"2&+3,3%"/1, "223,"+)"&++,53&,+2+!%&$%"1 "/3+ "?43&3&2 %))"+$"3%3D1# / / )*10$")$!$)1/ -*/10$)1# '$1 /12/ *21#*4
$1$0$)1 "/1 $)1# 0 "( )1BL"1++!"2?5) +3&?Q+!1!"?VTU[?/B231 3MB%"
/1"2"+3"!234!8#&+!23%3&3&2!&##& 4)3+! %))"+$&+$3,1&+$!"2&$+"12&+3,3%"&+&3&) /)++&+$,#3%"!"5"),/*"+3/1, "22,#+"63,82?433%3&3&2D$/ 1'6/ '1 4$1#1# .2'$16
$)/ 0 *!1# *(-)6B0-/*210BL"1++!"2?5) +3&?Q+!1!"?VTU[?/B231 3MB
%",5"#&+!&+$2#1,*/1"5&,42234!&"2,+ %))"+$"2+!11&"12&+3%"&+!42318%5")"!3, 3%"&+3"1"23&+&+31,!4 &+$*,1" %&)!I "+31"!!"2&$+//1, %#,1!"2&$+"12!!1"22&+$3%"
&!"+3&#&"!+""!2J+//1, %3%34&)!24/,+"7&23&+$#&+!&+$243&2/22"!,+3,3%"!"2&$+
/1 3&3&,+"12&+*,1"24&3)"+!1")"5+3683%+ !"*& //"12@+//1, %3%3
!"*,+2313"21")"5+33,,)2+!*"3%,!2#,1//)8&+$*,1" %&)!I "+31"!!"2&$+/1 3& "+!
,##"123%",//,134+&383,"+$$"&+3%""5"18!8)&#",# %&)!1"+?+//1, %3%34+!"12 ,1"2 3%"/,3"+3&)+!3%"5)4",#6,1(&+$&+ %&)!I "+31"!#2%&,+8%5&+$ %&)!1"+33%" "+31"
,#33"+3&,+&+3%"!"2&$+/1, "22B
#*1*R> 0$") /)#$'/ )-/1$$-1$)"$) 0$")-/* 001'60 /E#*1*/ $1>-$1'*!#$'/ )E<
/$25 ) "/
E8F
%"&+3"1"23&+&+31,!4 &+$*,1" %&)!I "+31"!!"2&$+//1, %3,!"2&$+/1 3&3&,+"121&2"2 3%"04"23&,+,#6%3 %&)!I "+31"!!"2&$+//1, %&+!"2&$+&2+!%,6&3&+#)4"+ "23%"
!"2&$+"1B%&2&26%33%&21"2"1 %/1,'" 3&+3"+!23,"7/),1"3%1,4$%"7/),13,18+!
"7/"1&*"+3)!"2&$+1"2"1 %B%&2/13,#3%"&+31,!4 3&,+"),13"2,+3%"/1,'" 32 ,/"+!
,43)&+"23%"1"2"1 %04"23&,+2?3%"/1, "22?+!3%"*,3&53&,+B%" ,+ "/3 )1&#& 3&,+
,4+32#,1%,63%"!"#&+&3&,+,#D %&)!I "+31"!E&2"&+$42"!&+3%&21"2"1 %/1,'" 3B
Y ,)$.-)*
4"3,3%" %))"+$"2?!"*+!2+!,//,134+&3&"2233"!,5"?&3&2&*/,13+33,#&$41",43
%,63,"+241"/1,#"22&,+) ,*/"3"+ &"2&+!"2&$+&+$#,1/)86&3%+&+ 1"2"!#, 42,+
%&)!1"+B%"04"23&,+&26%"3%"1&3 ,4)!"8//)8&+$*,1" %&)!I "+31"!!"2&$+//1, %B
#2,?6%3&2 %&)!I "+31"!!"2&$+//1, %>+!%,6!,"2&3&+#)4"+ "3%"!"2&$+"1>%"2"
04"23&,+2+!+4*"1,#1")3"!04"23&,+21""),13"!,+&+3%"#,)),6&+$2" 3&,+#,13%"
/41/,2",#!&1" 3&+$+!&+#,1*&+$3%"1"2"1 %/1,'" 3B413%"1*,1"?3%"1"2"1 %/1, "22+!
3%"*,3&53&,+,#3%"/1,'" 31"!"2 1&"!B
"2"1 %04"23&,+
%"/41/,2",#3%&2%/1,'" 3&23,!!1"223%",5"I*"+3&,+"! %))"+$"2+!,//,134+&3&"2 8"7/),1&+$+!+26"1&+$3%"*&+1"2"1 %04"23&,+A
#1$0#$'F )1/ 0$")--/*#)#*4* 0$1$)!'2 ) 1# 0$") /;
%"1"2"1 %&*23"7/),1&+$+!"7/"1&*"+3&+$6&3%3%" %&)!I "+31"!!"2&$+//1, % 3,$"3%"16&3%!"2&$+"12+! %&)!1"+3,")"3,/1,5&!"!"#&+&3&,+,# %&)!I "+31"!!"2&$+
//1, %+!3,&!"+3%,63%"//1, %&+#)4"+ "23%"!"2&$+"12+!3%"&1/1, "22?3,,)2+!
*"3%,!26%"+!"2&$+&+$/)8#4)"7/"1&"+ "2#,1 %&)!1"+B+,1!"13,")"3,+26"13%"*&+
1"2"1 %04"23&,++4*"1,#1")3"!04"23&,+2%5""*"1$"!!41&+$3%"1"2"1 %/1, "22A *4)#$'F )1/ ($)F0 1 3 '*- ;
*4)#$'F )1/ 0$")--/*# $)1/*2 1* 0$") /0;
*4)1# $)!'2 ) *!1# #$'F )1/ 0$")--/*# $ )1$!$ ;
%""*"1$"!04"23&,+2%5"""+&3"13&5")8!"5"),/"!2"!,+3%"#&+!&+$2#1,*3%"51&,42 /132,#3%"1"2"1 %/1, "22+!%5"""+683, ,+#1,+3?"7/),1"+!&+#,1*3%"*&+
1"2"1 %04"23&,+B%"1"2"1 %04"23&,+2%5"$4&!"!+!!&1" 3"!3%"1"2"1 %/1, "222 ,4+3"!#,1&+3%"#,)),6&+$2" 3&,+2B
"2"1 %/1, "22
%"&*,#3%"1"2"1 %/1, "22&23,!"5"),/+!&+31,!4 "+"6//1, %3,!"2&$+"12?
6&3%,43(+,6&+$"#,1"%+!3%"2/" &#& !"#&+&3&,++!2 ,/",#3%"//1, %B%&2 ))2#,1+
"7/),13,18?"7/"1&*"+3)+!&3"13&5"1"2"1 %/1, "222&))42313"!&+&$41"UB33%",432"3 3%"1"6&))"+,5"1))2314 341"433%""7/"1&"+ "2+!#&+!&+$23%3*3"1&)&2"3%1,4$%,43 3%"/1, "22 +J+!1""7/" 3"!3,J&+#)4"+ "3%"1"2"1 %&+3%"*(&+$B%"1"2"1 % /1, "226&))23138!"2 1&&+$"7&23&+$&+&3&3&5"2,+!"2&$+&+$#,1 %&)!1"+3,"23)&2%3%"
1"2"1 %#&")!#,13%&21"2"1 %/1,'" 3+!&!"+3$/2+!+"6/,3"+3&)2B%&2&2 ,*&+"!
6&3% ,+!4 3&+$2"1&"2,#"7/"13&+3"15&"623,$"3&+/43,+%,63,!"5"),/ %&)!I "+31"!
*&+!2"3B%"#&+!&+$2#1,*3%""7/"13&+3"15&"622%/"3%"&+31,!4 3&,+,#3%" %&)!I "+31"!
!"2&$+//1, %#,13%"!"2&$+"12&+3%" ,+!4 3"!#&")!234!&"2B%"//1, %&2"7/),1"!
3%1,4$%!&##"1"+3(&+!2,#&3"13&5"!"2&$+"7/"1&*"+323,$"3%"16&3%!"2&$+"12+! %&)!1"+
6&3%3%"/41/,2",##413%"1&!"+3&+$6%3 %&)!I "+31"!!"2&$+//1, %&2B2"1&"2,#
31 (&+$3,,)2+!#,)),6I4/234!8%5"""+!"5"),/"!3,234!8%,63%"//1, %&+#)4"+ "2 3%"!"2&$+"1B1,4+!"!%",18+)82&2,#3%"/1,!4 "!!3)"!23,+4*"1,# ,+ "/32 6%& %1"!&2 422"!+!"7/)&+"!3%1,4$%"7&23&+$)&3"1341"B%",5"1))1"2"1 %&2 ,+!4 3"!
&3"13&5")8+!&2/42%"!#,161!83%"1")3"!04"23&,+26%& %?&+341+?&+#,1*3%",5"1)) 1"2"1 %04"23&,++!)"!3,3%" ,+ )42&5" ,+31&43&,+,#3%"1"2"1 %/1,'" 3B