SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-A, AS 17-A, AS AMENDED AMEND ED ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES OF GMA NETWORK, INC. 1. 2. 4. 5.
For the fiscal year ended: December 31, 2014 SEC Identification Number: 5213 3. BIR Tax Identification No. 000-917-916-000 Exact name of issuer as specified specified in its charter: charter: GMA NETWORK, INC. PHILIPPINES 6. (SEC Use Only) Province, Country or other jurisdiction jurisdiction of Industry Classification Classification Code: Incorporation or organization
7. GMA NETWORK CENTER, EDSA CORNER TIMOG AVENUE, DILIMAN, QUEZON CITY Address of principal princip al office Postal Code Co de 8. (632) 982 7777 Issuer’s telephone number, including area code 9. NOT APPLICABLE Former name, former address, and former fiscal year, if changed since last report. 10. Securities registered registered pursuant to Sections 8 and 12 of the SRC, or Sec. 4 and 8 of the RSA Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt
Outstanding Common Stock Preferred Stock
3,361,047,000 7,499,507,184
11. Are any or all of these securities listed on a Stock Exchange. Yes [ ! ]
No [
]
If yes, state the name of such stock exchange and the classes of securities listed herein: PHILIPPINE STOCK EXCHANGE / COMMON S TOCK
!
12. Check whether the issuer: (a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports); Yes [! ] No [ ]
(b) has been subject to such filing requirements for the past ninety (90) days. Yes [! ] No [ ] 13. Aggregate market value of the voting stock held by non-affiliates of the registrant State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form. (See definition of "affiliate" in “Annex B”).
Market Value = PhP32.3 B (as of March 31, 2015)
APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY/SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS: 14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission. NOT APPLICABLE
#
PART I - BUSINESS AND GENERAL INFORMATION
Item 1. Business GMA Network, Inc. is a free-to-air broadcasting company principally engaged in television and radio broadcasting, the production of programs for domestic and international audiences, and other related businesses. The Company derives the majority of its revenues from advertising related to television broadcasting. The Company’s Congressional television broadcasting franchise was renewed on March 20, 1992 through Republic Act 7252, which allows it to operate radio and television facilities in the Philippines for 25 years. GMA Network has 47 VHF and 33 UHF TV stations throughout the Philippines with its signal reaching approximately 99% of the country’s Urban TV Households (Source: 2014 AGB Nielsen Total Philippines Establishment Survey; Claimed reception among TV homes). In 2014, GMA Network, Inc. maintained leadership in TV Ratings in the viewer-rich areas of Urban Luzon and Mega Manila. The Company posted decreases in its gross revenues and net income for 2014 versus 2013. GMA Network’s international operations continued to expand during the year. The Company’s international syndication and distribution business likewise grew in 2014.
GMA SUBSIDIARIES, JOINT VENTURE AND AFFILIATES The Company’s subsidiaries and affiliates are involved in media-related services such as movie making, sets and props construction, film syndication, music and video recording, new media, online gaming, post production services, and marketing, which complement the Company’s core television and radio broadcasting business. The following table shows the Company’s holdings in its principal subsidiaries, joint ventures and affiliates as of December 31, 2014:
COMPANY
OWNERSHIP
PRINCIPAL ACTIVITIES
GMA New Media, Inc. (NMI)
100%
Converging Technology
Citynet Network Marketing
100%
Television entertainment production
Subsidiaries
and Productions, Inc.
$
GMA Network Films, Inc.
100%
Film production
GMA Worldwide (Philippines),
100%
International marketing, handling foreign
Inc.
program acquisitions and international syndication of the Parent Company’s programs
RGMA
Marketing
Productions,
Inc.
and
100%
Music recording, publishing and video distribution
(GMA
Records) Scenarios, Inc.
100%
Design, construction, maintenance and storage of sets for TV, stage plays and concerts; transportation services
Script2010, Inc. (Script2010)*
100%
Design, construction and maintenance of sets for TV, stage plays and concerts; transportation and manpower services
Alta Productions Group, Inc.
100%
Pre- and post-production services
GMA Marketing & Productions,
100%
Exclusive marketing and sales arm of
Inc. (GMPI)
GMA's
airtime;
events
management;
sales implementation; traffic services and monitoring Mediamerge Corporation**
100%
Business development and operations for the
Company’s
online
publishing/advertising initiatives Digify, Inc. (Digify)**
100%
Crafting,
planning
and
handling
advertising and other forms of promotion including multi-media productions Joint Ventures INQ7 Interactive, Inc.
50%
Internet publishing
Philippine Entertainment
50%
Internet publishing
Portal, Inc. (PEP)** %
Gamespan, Inc.**
50%
Sports betting and broadcasting
49%
Real estate
49%
Radio broadcasting and management
Affiliates Mont-Aire
Realty
and
Development Corp.*** RGMA Network, Inc.
Notes: * Indirectly owned through Citynet Network Marketing and Productions, Inc. ** Indirectly owned through GMA New Media, Inc. ***49% owned by GMA Network, Inc.
PUBLICLY ANNOUNCED NEW PRODUCT OR SERVICE The Company had no new publicly-announced product or service during the fiscal year covered by this report.
COMPETITION The Company currently competes for audiences and advertising revenues directly with other broadcast stations, radio stations, newspapers, magazines, cable television, and outdoor advertising within their respective markets. The following table presents major broadcasting networks in the country:
2014 Ratings & Audience Share Network
GMA
(Total day; 6AM-12MN)
Description
Household Ratings
Mega Manila
Urban Luzon
Urban National
14.1
13.4
12.0
&
2014 Ratings & Audience Share Network
ABS-CBN
(Total day; 6AM-12MN)
Description
Radio and TV broadcasting network and multimedia company. Founded in 1953, and is the first television station in the Philippines.
Mega Manila
Urban Luzon
Urban National
Audience Share
37.6
36.4
33
Household Ratings
10.8
11.6
12.7
Audience Share
28.8
31.3
35.1
Household Ratings
2.1
1.8
1.6
Audience Share
5.6
5.0
4.4
Household Ratings
4.1
3.7
4.0
10.9
10.1
10.9
0.2
0.2
0.2
GMA Network's sister channel. It is programmed by GMA. GNTV
GMANEWS TV (GNTV) was launched on February 28, 2011.
TV5
Third-oldest TV network in the country, with main broadcast facilities in Novaliches, Quezon City. On March 2, 2010, Mediaquest acquired 100 percent ownership of the Associated Broadcasting Company and Primedia Inc., the broadcasting firm’s major block airtimer.
Audience Share
Household Ratings
SOLAR TV/ Radio Philippines Network
'
2014 Ratings & Audience Share Network
ETC (RPN)/ Solar News (RPN) *
(Total day; 6AM-12MN)
Description
Mega Manila
Urban Luzon
Urban National
Audience Share
0.6
0.5
0.5
Household Ratings
1.0
1.2
1.3
Audience Share
2.6
3.1
3.4
(RPN 9) is a Philippine VHF television network of the Government Communications Group. On November 29, 2009, the network re-branded again under the new name Solar TV on RPN.
*Solar TV went off air on February 26, 2011 and was re-launched as ETC (RPN) on March 2, 2011. It was re-launched anew as Solar News (RPN) on November 30, 2013, then was replaced by 9TV (RPN) starting Aug. 23, 2014.
Studio 23/ ABS-CBN Sports + Action **
Sister network to the main ABS-CBN Broadcasting Corporation, airing programming aimed towards young adults, such as North American imports and other English language programming.
**Studio 23 was re-launched as ABS-CBN Sports + Action on January 18, 2014
(
2014 Ratings & Audience Share Network
National Broadcasting Network
Intercontinental Broadcasting Corporation (IBC 13)
Southern Broadcasting Network Solar News Channel/ TALK TV (SBN)/ ETC (SBN) ***
nd
RJTV (2 Ave.)
(Total day; 6AM-12MN)
Description
Official government TV, formerly called Maharlika Broadcasting System, Inc. and later the People’s Television Network, Inc. (PTV).
Mega Manila
Urban Luzon
Urban National
Household Ratings
0.2
0.2
0.2
Audience Share
0.7
0.5
0.5
0.1
0.1
0.1
0.3
0.3
0.3
Household Ratings
0.1
0.1
0.1
Audience Share
0.2
0.2
0.2
0
0
0
0
0
0
IBC-13 is a VHF TV station of Household Ratings the Government Communications Group launched in 1975 by Roberto Audience Share Benedicto. On January 1, 2008, Solar Entertainment Corporation's entertainment channel ETC aired on this station.
***SBN was launched as Talk TV (SBN) on March 3, 2011 and was later replaced by Solar News Channel on October 30, 2012. This channel was re-launched anew as ETC (SBN) on November 30, 2013
RJTV is a UHF free to air television channel owned and operated by Rajah Broadcasting Network, Inc. owned by Ramon "RJ" Jacinto. Solar is also nd programming 2 Ave.
Household Ratings Audience Share
NOTE: Ratings data are based on the Nielsen Television Audience Measurement (TAM). )
RELATIVE SIZE AND FINANCIAL AND MARKET STRENGTH OF COMPETITORS The Company considers ABS-CBN as its longest and prime competitor, followed by TV5. ABSCBN is the largest broadcasting company in the Philippines in terms of product and service range and financial asset base. Its broadcasting operations contribute approximately 60% of its total revenue generated, followed by its cable and satellite businesses with a share of nearly 35%. Its other businesses, which comprise movie production, new media ventures, publishing and other consumer products and services, make up about 5% of total sales. In comparison, GMA is the second largest and is the oldest broadcasting company in the region and derives more than 80% of its business from broadcasting. The Company’s international operations provides close to 10% of gross revenues while other businesses which includes film production, new media services, and other services fill in the remaining 5%. In more recent years, a third major player came into the picture in TV 5 which was formerly known as ABC 5. It was re-launched in 2008 as TV 5 after reaching a partnership with MPB Primedia, Inc. (MPB), a local company backed by Media Prima Berhad of Malaysia – with MPB producing and sourcing most of the entertainments programs of the channel. On October 20, 2009, Media Prima divested its share in TV5, selling it to Mediaquest Holdings Inc., the broadcasting division owned by the Beneficial Trust Fund of the Philippine Long Distance Telephone Company (PLDT). In the first half of 2010, along with dramatic changes in programming, TV 5 branded itself as the “Kapatid” network parallel to ABS-CBN’s “Kapamilya” and GMA’s “Kapuso” brands. GMA effectively competes with these two main competitors and the rest of the industry players by enriching the lives of the Filipinos everywhere with superior Entertainment and the responsible delivery of News and Information. The Company prides itself in launching the first ever free-to-air news channel with the launch of GMA News TV under Channel 11 in the first quarter of 2011. The Company has likewise proven its competitiveness by grabbing the number one spot in nationwide TV ratings since early 2010, maintaining its lead up to 2012, thus providing the much needed leverage to generate advertising revenues. Financial-wise, the Company leads both competitors in most key financial indicators, from gross profit margins, net income margins, to debt-equity ratios, with GMA remaining debt free for the past couple of years. INTERNATIONAL DISTRIBUTION The Company’s television programs are distributed outside the Philippines in two ways. One is through its subscription-based international channels – GMA Pinoy TV, GMA Life TV, and GMA News TV International – and the other is through GMA Worldwide (Philippines), Inc. (GWI), a wholly-owned subsidiary of the Company. GWI distributes GMA’s locally produced programs on all platforms through worldwide syndication sales to broadcasters/companies in China, Southeast Asia, Africa, and Europe. GMA PINOY TV Launched in 2005, GMA Pinoy TV delivers to an international audience the Company’s most popular news and pu blic affairs and general entertainment programs.
*
GMA Pinoy TV is currently available in 50 states in the United States including Alaska and Hawaii, plus Puerto Rico and Washington DC; Canada; Japan; Guam; Saipan; Hong Kong; Singapore; Papua New Guinea; Australia; the British Indian Territory of Diego Garcia; Madagascar; Malaysia; Palau; Haiti; 16 countries in the Middle East including the key territories of the Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Bahrain, and Kuwait; and 11 countries in North Africa. GMA Pinoy TV aims to establish global exposure and presence for the Network that will bring the company’s programs to Filipino communities around the world. Under the carriage and licensing agreements with international cable carriers, the Company generally receives a portion of the subscription fees and is also allocated a certain number of advertising minutes through which the Company may sell advertising spots, which it does, through its subsidiary, GMA Marketing and Productions, Inc. (GMPI). GMPI also participates in joint promotions with various carriers for the marketing of GMA Pinoy TV. As of December 2014, GMA Pinoy TV’s subscriber base closed at 278,000 – a 4% increase over the 2013 closing subscriber number of 267,000. GMA’s subscriber base continues its steady growth despite the business challenges brought by overall industry and marketplace factors. GMA LIFE TV Three years after the success of GMA Pinoy TV, GMA Life TV, GMA Network’s second international channel, was launched. More than just offering mainstream entertainment, GMA Life TV engages more viewers with its exciting line-up of heart-warming and innovative programs that feature the Filipinos' lifestyle and interests. GMA Life TV is available in the United States, Canada, Guam, Hong Kong, Japan, Australia, Papua New Guinea, Madagascar, Malaysia, Palau, Saipan, Singapore, 16 countries in the Middle East and 11 countries in North Africa. As of December 2014, GMA Life TV’s subscriber base closed at 91,000 – a 7% increase over the 2013 closing number of 85,000. GMA NEWS TV INTERNATIONAL In September 2011, GMA Network began distributing GMA News TV International in order to provide overseas Filipinos with the latest, most comprehensive, and most credible news coverage from the Philippines. It offers internationally acclaimed and award-winning news and public affairs programs with 7 to 8 hours of original content daily. It is now available in Canada, Middle East, North Africa, Australia, Guam, Saipan, Japan, Malaysia, Madagascar, Singapore and Palau. As of December 2014, GMA News TV International’s subscriber base closed at 21,000 – a 61% increase over the 2013 closing number of 13,000.
!+
CONVERGING TECHNOLOGY GMA New Media, Inc. (GMA NMI) is a multimedia technology, value-added service provider. A wholly owned subsidiary of GMA Network, Incorporated, it has launched category-breaking projects in web, mobile, digital television and other emerging platforms. Since its inception in July 2000, it has embarked on a sure-footed foray into the dynamic world of new media. GMA NMI AS GMA’S FUTURE-PROOFING AGENT GMA NMI functions as GMA Network’s research and development (R&D) unit and innovation center. It is the de facto future-proofing agent of the Network tasked to spearhead the grand digital blueprint that will lay the foundation for audience loyalty and industry leadership in the digital era. As such, NMI has been involved in all major projects across the various platforms that include the web, mobile, digital television and other emergent media. WEB Online Publishing NMI launched GMA’s official entertainment website, iGMA.tv, and its official news website, GMANews.tv. Both websites have won local and international acclaim as well as loyal patronage among Filipinos here and abroad. In collaboration with various units in GMA Network, NMI launched in May 2014 a revamped portal, www.gmanetwork.com, the umbrella site for all things GMA. The revamp sought to improve the user experience of the website by making the site more sleek and accessible to a wider range of hand-held devices. The site is equipped with a system to detect the device and automatically adjust in ways that optimize viewing and browsing. NMI’s non-stop enhancements to the GMA portal enabled the site to sustain a steady upward trend in online metrics in 2014, particularly in terms of pageviews 1 and unique browsers2. It is currently among the top three entertainment websites in the country based on recent data from Effective Measure, a third party online audience measurement service provider. 2014 also proved to be a year of marked improvements for GMA News Online (GNO) as web metrics showed gradual but consistent improvements throughout the year.
!
,-./01/23 4/5/43 67 -8 1836-89/ 75 -8 :86/48/6 ;3/4 0131618. - <-4619;=-4 <-./ 78 - 2/>316/?
#
@81A;/ B4723/4 4/5/43 67 - ;81A;/ C/019/ D/?.? - 9 7E<;6/4 74 E7>1=/
67 6F/ 316/ 18 6F/ /18. E/-3;4/C?
!!
While GNO constantly ranked second among the sampled news sites of Effective Measure, persistence in making the site more competitive enabled it to shrink the lead that its main competitor, www.abs-cbnnews.com, has had for quite some time.3 GNO appears well poised to strengthen its position further in the news category as efforts to broaden readership base an d to making the site more relevant and engaging are being implemented on an on-going basis. NMI entered into a joint venture with Summit Media and launched PEP.ph, the leading showbiz news portal in the Philippines. It also launched SPIN.ph or Sports Interactive Network, currently the No. 1 sports website based on recent data from Effective Measure. NMI provides the technology back-end of said sites. The joint venture is a way for GMA to capture a bigger slice of the online audience share by targeting readers who are keen on sports and entertainment. MOBILE NMI pioneered interactive TV in the Philippines with the launch of SMS-TV services in “Debate” and Startalk, and Eat Bulaga’s Cool Dudes segment. This laid the foundation for succeeding SMS-TV initiatives that carried NMI through several years of growth and profit. NMI also introduced SMS technology to Philippine broadcast TV and was the first to launch an interactive chat and gaming show called Txtube. NMI launched Fanatxt , a mobile-based celebrity portal for Kapuso stars, considered as one of the most successful mobile VAS services ever launched locally. NMI broke new ground with the launch of Teledrama Text Saya, the first ever mobile point of purchase promo for GMA’s primetime shows done in partnership with GMPI. NMI also developed the GMA News Online iOS and Android mobile apps that sport a new user interface to keep up with current design trends. The mobile apps allow people easy access to GMA content using their handheld devices. The GMA portal mobile app has also been recently launched and is expected to be the perfect mobile companion to the top-rating GMA shows. CONVERGENT MEDIA NMI works closely with GMA Marketing and Pomotions, Incorporated (GMPI) in the launch of innovative convergent media campaigns such as Win Mo Kapuso and Win Mo Pamasko. The combination of TV plus new media has become a valuable strategic offering for clients in terms of ensuring the widest possible reach for both online and offline audiences. YouScoop is NMI’s joint initiative with GMA News and Public Affairs (NPA) that aims to promote citizen journalism and vigilance. YouScoop helps empower the people to provide information and news when and where it happens. Users can send information, photographs, videos and even audio recordings of newsworthy events wherever and whenever they may be through the app. A team of editors chooses items that will be featured in the YouScoop page on GMA News Online, while significant contributions that merit public broadcast are aired on any one of the GMA News and Public Affairs programs.
$
H47E 6F/ 97E
;81A;/ >4723/43K 16 4/C;9/C 6F/ &'J 51436 F-=5 =/-C C728 67 $&J 18 6F/ 3/978C F-=5 75 6F/ P/-4?
!#
In collaboration with GMA NPA, NMI launched IM Ready, a one-stop online portal for public safety information to aid in traffic and disaster awareness and preparedness. The project aims to provide the public with timely and relevant information to minimize risks and better prepare them during emergency situations. It also enables the public to plan their routes and itineraries. IM Ready can be accessed on the internet and can be downloaded as an app in both iOS and Android. In view of making IM Ready a cutting-edge application, NMI sealed an exclusive media partnership agreement with Google-owned Waze, a leading social GPS navigation system that provides crowd-sourced traffic information and real-time maps. Waze allows subscribers to share real-time traffic and road information that enables people to save time and gas money on their daily commute. By connecting drivers to one another, the app helps people create local driving communities that work together to improve the quality of everyone's daily driving. The popularity of the IM Ready app can be gleaned from its consistent high rank in both the Apple App Store and Google Play. Since its launch, it has always ranked among the top 5 apps in both the News Category of the Apple App Store and in the News and Magazine Category of Google Play. NMI will soon incorporate traffic cameras and MRT platform cameras on the IM Ready web and mobile applications. Negotiations with the local government units of Manila, Las Pinas and Pasig to broaden IM Ready’s network of traffic cameras and include feeds from the Bureau of Fire Prevention, are underway. These are set for launch this year. BROADCAST Election Coverage NMI has maintained its track record of providing GMA News and Public Affairs with speedy and accurate delivery of elections results using the latest technologies for the Eleksyon 2013 coverage. NMI spearheaded the count operations in PPCRV by acquiring, extracting, and prioritizing data from the COMELEC before sending it to GMA for processing. To achieve multi-screen pervasiveness, NMI provided the most comprehensive election count data across all platforms—from television, mobile and the internet. The team deployed its proprietary search engine that enabled users of GMA News Online and its mobile app (in both Android and iOS) to retrieve election count data in the Search Results. While all the other websites and apps were incapable of integrating the count results in their search, our proprietary search returned the most relevant results for all candidates during election time. NMI will serve the same function of ensuring fast and accurate delivery of elections results in the upcoming 2016 elections. Digital TV In collaboration with the Office of the President and GMA Engineering, NMI has been involved in the development of GMA’s Digital TV strategy. Efforts are underway to conduct testing for the service soon.
!$
NMI AS BUSINESS CENTER NMI created two subsidiaries to fulfill its role as a business center. The first is MediaMerge, Incorporated, the online publisher of GMA News Online. MediaMerge takes charge of online advertising sales. MediaMerge ended 2014 on a positive note by achieving P53 million in total online sales as it earned P23.4 million more versus 2013. The variance translates to a 79% year-on-year growth. The increase is attributed to the strategic and aggressive use of social media, and to enhancements that have made the websites more intuitive, relevant and reader-friendly. Designed to specialize in digital media, GMA NMI established Digify, Incorporated. Digify is a digital agency that handles research and development (R&D) on emerging technologies. As a spin-off from GMA NMI’s Techno-Creative Unit, the team’s extensive experience in both traditional and emerging media helped establish its expertise in digital branding, digital communications, multi-media content production and convergent end-to-end media solutions. Digify has launched a number of trailblazing projects that include award-winning apps for major clients (done in collaboration with GMA Marketing and Promotions) and leading-edge apps for clients in the technology industry. NMI AS GMA’S CONDUIT TO INDUSTRY PARTNERS The Digital Age is marked by constant change and dynamism and favors those who can manage to always be way ahead of competition. It is in this context that NMI perceives its mandate to ensure that GMA Network is always at the leading edge in the digital space. GMA NMI manages relationships with the major telecommunications companies in the Philippines and abroad, and with leading global brands such as Google, YouTube and Waze, to name some. It likewise serves as a conduit to advertising agencies and digital distribution partners meant to create new avenues for incremental revenue and expand the reach of GMA content, both in the local and international markets. GMA NMI will seal a deal soon that makes use of a new content distribution platform. The platform, called Over-the-Top (OTT), is an IP-based 4 format for content delivery. This new type of video-on-demand service will enable users to enjoy online streaming access and an offline viewing option of TV shows and movies. This service will optimize GMA’s existing library of content and will allow Filipinos here and in the region to watch their well-loved GMA shows whenever they want, wherever they may be. The project has been in the works and is set to launch this year.
%
:, D74 :86/48/6 ,476797=G Q>-3/C C13641>;6178 75 6/=/013178 9786/86 ;3/3 6F/ 186/48/6 4-6F/4 6F-8 64-C16178-=
6/44/3641-=K 3-6/==16/ 31.8-= 74 9->=/ 6/=/013178 -3 - 574E-6 574 9786/86 C/=10/4P?
!%
MOVIE PRODUCTION GMA Network Films, Inc. was established in August 1995 to produce movies that cater to both the local and international markets. Its movie productions have reaped both critical acclaim and commercial success.
MUSIC AND VIDEO RECORDING RGMA Marketing and Productions, Inc. (GMA Records) was incorporated in September 1997 and became operational in 2004 after the Company decided to reactivate its musical recording business through the "GMA Records" label. Since resuming operations, GMA Records has leveraged the Company's talent and media resources, releasing albums of various artists. It also partnered with sister company GMA Films and other major film production outfits to release their films on DVD. Likewise, it has introduced the network's top rating programs and blockbuster TV series into the home video market worldwide through GWI. GMA Records works with GMA New Media and other local-based content providers and aggregators to take advantage of new revenue streams, particularly in the emerging market of digital music downloads. The company also secured non-exclusive mobile, web and kioskbased deals with different content providers worldwide to continuously exploit the potentials of its music and video assets. GMA Records publishes music and administers copyrights on behalf of composers. GMA Records is also actively pursuing publishing deals, building on its current catalog of original compositions. GMA Records serves as a clearing house and a source of music for the Company's television and film productions. It is also a member of FILSCAP, the Filipino Society of Composers, Authors and Publishers.
STAGE DESIGN Scenarios, Inc. was incorporated in July 1996 and is engaged in transportation and warehousing services. Script2010, Inc. was formally established in early 2010 as a subsidiary of Citynet Network Marketing and Productions, Inc. It engages in conceptual design and design execution through fabrication, construction, set-up and dismantling of sets, and creation of props. It also provides other related services such as live performances and events management, sales activation and promotion, and tradeshow exhibits. Script2010, Inc. is also engaged in transportation, hauling and trucking services to further fulfill the needs of its clients. Other business units of Script2010, Inc are band/audio equipment rental, and facility support services to various GMA departments.
!&
POST PRODUCTION Alta Productions Group, Inc. was established in 1988 as a production house primarily to provide production services for the Network. Until the late 1990s, it operated a satellite studio in Makati, producing award-winning News and Public Affairs Programs for GMA Channel 7. Today, Alta Productions Group's core business is audio dubbing and mixing for broadcast. Its fully digital audio recording and mixing studios is in sync with the Network's production requirements and broadcast standards. Aside from dubbing foreign content into the local vernacular for airing on the Network, Alta Productions Group also dubs station-produced content into English for international consumption. In addition, Alta Productions Group's shoot and video post-production department produces TVCs, broadcast content, and documentaries for both local and international clients. Its creative group also provides concept development, staging, and activation services for various clients' onground activities. Alta Productions Group is proud to be one of the few production houses capable of servicing the complete spectrum of shoot and post-production requirements all under one roof. From conceptualization, creatives, shoot, post-production, all the way to execution.
M ARKETING AND S ALES OF COMMERCIAL AIRTIME AND EVENTS GMA Marketing and Productions, Inc. (GMPI) was established in August 1980 and is the exclusive marketing and sales arm for the Company’s commercial television and radio airtime and events. GMPI, a wholly owned subsidiary of the Company, provides the link between the Network and the advertisers and ad vertising agencies. GMPI provides the Company’s clients with services such as multi-media local and global media packages, promotional programs and materials, creative products, digital executions, and events. Part of GMPI’s sales and marketing strategies are the integrated multi-platform packages, customized on-air, on-ground and online media solutions, branded entertainment, and other advertising and media-led promotional campaigns.
DEPENDENCE UPON CUSTOMERS The broadcasting business of the Company generates revenues mainly from the sale of regional and national advertising time to agencies/advertisers and other blocktime producers. No single customer accounts for twenty (20%) percent or more of the Company’s total consolidated revenues. The top 30 agencies/advertisers comprise less than 60% of the Company’s business with the top advertiser accounting for less than 10% of revenues. The Company is not critically dependent upon a single or few customers to provide and ensure sustainability of its operations and financial viability. Major existing contracts include airtime sales with regular agencies and advertisers such as Unilever Philippines, Inc., Nestle Philippines, Inc., P&G Distributing (Phils.) Inc., Unilab Group, Monde Nissin Corporation, Smart !'
Communications, Inc., Mead Johnson Nutrition (Philippines), Inc., Universal Robina Corporation and Coco-Cola Far East Limited.
TRANSACTIONS WITH AND/OR DEPENDENCE ON RELATED PARTIES Please refer to Item 12 of the report (p.63-64).
FRANCHISE, LICENSES AND GOVERNMENT APPROVALS The Company is a grantee of a congressional franchise to construct, install, operate and maintain for commercial purposes and in the public interest radio and television broadcasting stations in the Philippines. Its franchise was granted through Republic Act No. 7252 and has a term of twenty-five (25) years from the date of its approval or from March 20, 1992. The Company also operates and maintains various radio/TV stations nationwide under licenses/permits issued by the National Telecommunications Commission. The Company has also applied for registration of its service marks (visible signs capable of distinguishing its services) with the Intellectual Property Office (IPO) and has complied with the provisions of Republic Act No. 8293 on the law on service marks for this purpose. A Certificate of Registration of Service Marks granted in favour of the Company remains in force for 20 years. Similarly, the Company has applied for copyright registration with the IPO of its (a) published (b) unpublished works under Republic Act No. 8294 and Presidential Decree No. 49. A Certificate of Copyright Registration has a term of protection of Fifty (50) years from publication of the work. The Company has also entered into several license agreements for its business of producing television programs aired over its local and international channels and producing television series based on a licensed property. The said license agreements are for periods between three to five years.
EFFECT OF GOVERNMENT REGULATIONS ON BUSINESS The foregoing franchise, licenses or permits, service marks, copyright registration and government approvals were obtained by the Company in accordance with the requirements of applicable laws and rules of regulatory agencies. The Company’s compliance with the above-mentioned government regulations are indispensable to its businesses, which are primarily, radio and television broadcasting, recording, film production and other information and entertainment business.
!(
AMOUNT SPENT ON DEVELOPMENT ACTIVITIES The company approved specific budget for the operation/maintenance and upgrade of the following stations in 2014: •
TV-8 Daet, Camarines Norte (new 2KW TV relay station) Completion Date: March 12, 2014
Approved Budget: P20.793 million •
TV-7 Tuguegarao, Cagayan (transfer of location and upgrade of antenna system) Commissioning Date: May 30, 2014 (transfer of location only)
Approved Budget: P12.098 million
•
TV-11 Iligan City, Lanao del Norte (transfer of transmitting station to enable the rebroadcast of Cagayan de Oro programs via free-to-air reception of TV-5 Ozamiz) Completion Date: August 19, 2014
Approved Budget: P7.238 million To be completed in 2015: •
TV-26 Butuan City (new 5KW TV relay station) Expected Commissioning Date: May 2015 Approved Budget: P39.390 million
COSTS AND EFFECTS OF COMPLIANCE WITH ENVIRONMENTAL LAWS
The Company complies with various environmental laws such as R.A 8749 (Philippine Clean Air Act of 1999), R.A 6969 (Toxic Substance and Hazardous Wastes) under DENR, R.A. 9275 (Philippine Clean Water Act) under the Laguna Lake Development Authority and R.A. 9003 (Ecological Solid Waste Management Act) as follows:
1. R.A 8749 The Company has a DENR Permit to Operate for the generator set installed in the GMA Network Center. The permit was received on July 4, 2012 and costs around P 14, 500.00 and is valid for five (5) years or until April 28, 2017. As a requirement in the permit, the Company submits quarterly self-monitoring reports on the consumed fuel of the generator sets. In addition, all generator sets undergo annual emission tests conducted by DENR’s accredited 3rd party group. The 2015 emission tests cost around P127,360.00 for the 5 units. !)
2. R.A. 6969 All generated hazardous wastes such as tapes, used engine oils, busted fluorescent lamp (BFL), empty paint cans, contaminated rags and others are treated, recycled and appropriately disposed of with the DENR’s accredited 3rd party hazardous waste treatment group. The annual cost for 2014 for the treatment of hazardous waste is P39,508.00. 3. R.A 9275 GMA has a Discharge Permit from the Laguna Lake Development Authority (LLDA) to operate its Sewage Treatment Facility (STP) in the GMA Network Center. The annual permit for 2014 (August 2014 - August 2015) costs P 21,416.51. 4. R.A. 9003 GMA applied for an Environmental Permit to Operate (Environmental Clearance) to the Quezon City Environmental Protection and Waste Management Department pursuant to City Ordinance No. 1729 Series of 2006. The annual permit for 2015 costs P1,100.00. In addition, the Company incurred approximately P344,877.82 in costs for other permits and licenses required by governmental regulations such as, but not limited to, special land use permits, DENR-EMB permits, etc.
EMPLOYEES As of December 31, 2014, the Company has 2,598 regular and probationary employees, a 2% growth from 2013. The Company also engaged 2,601 talents in 2014, a 6% decrease from the previous year. GMA Network, Inc. recognizes one labor union, the GMA Network, Inc. Employees Union. The Collective Bargaining Agreement (CBA) for the cycle 2014-2019 took effect in July 2014. The classification of the Company’s employees, including the number of employees it anticipates to have in the ensuing twelve (12) months, are presented below:
!" $% &'() *+, -.+/
00-.+1 '"234!2'&
2$2!6
!&&323$5!6
789: ; %<=> 0
!"#
%$9
1,396
5?9@789: 89A %<=>
!"!'(
26
1,176
$BB
DE
61
0
61
2?F8=
2,598
39
2,633
!*
! #$%&'&( )* #$++&,-.%& /0'10.2.21 31'&&4&2- 5#/36 !! /07&( $2 088'$%&( 9:; 02( <.'&( ==7 07 $> 90',< ?@AB
LABOR DISPUTES There were no strikes nor observed strikes and disputes between the labor and management in the past three (3) years. MAJOR RISKS INVOLVED IN THE BUSINESSES OF THE COMPANY AND ITS SUBSIDIARIES Both radio and television broadcasting are highly competitive businesses. GMA stations compete for listeners/viewers and advertising revenues within their respective markets directly with other radio and /or television stations, as well as with other media such as cable television and/ or cable radio, newspapers, magazines, the internet, billboard advertising, among others. Audience ratings and market shares are subject to change, and any change in a particular market could have a material adverse effect on the revenue of our stations located in that market. Considering the potential impact of various risks to the company’s ability to deliver quality content across multiple platforms, the Company has established a Programming Committee that deliberates weekly on the programming issues and strategies of the network. Regular monthly meetings of the Company’s officers are also held to discuss plans, operational issues and strategies, implementation of projects and recommendations for improvements. The Company’s financial results are dependent primarily on its ability to generate advertising revenue through rates charged to advertisers. The advertising rates a station is able to charge is affected by many factors, including the ratings of its programs and the general strength of the local and national economies. Generally, advertising declines during periods of economic recession or downturns in the economy. As a result, the Company’s revenue is likely to be adversely affected during such periods. The Company’s Board of Directors and management are mindful of the risks and uncertainties inherent in the business. In the formulation of corporate strategy and business decision-making, potential risks are always taken into account. Necessary steps are taken to minimize, if not eliminate, such risks. The Audit and Risk Management Committee assists the Board in the oversight of the company’s risk management, ensures that it has the proper controls in place, identifies and evaluates significant risk exposures and contributes to the improvement of risk management and control systems.
#+
Item 2. Properties As of December 31, 2014, the Company’s total property and equipment and real property amounted to P5,173.5 million. The property and equipment had a book value of P3,737.8 million, while its real property had a fair market value of P1,799.7 million (based on an Independent appraisal report as of December 17, 2013). The following are the principal properties of the Company: •
•
•
•
•
The Channel 7 compound located in Barangay South Triangle, Diliman, Quezon City, which contains several buildings, including the GMA Network Center building; The GMA Network Center Studios, a four-storey building with an area of 4,053 square meter property adjacent to the GMA Network Center at GMA Network Drive cor. EDSA, Diliman Quezon City which houses two state-of-the-art studios, technical facilities and offices; The GMA-7 Antenna Tower in Tandang Sora Avenue, Barangay Culiat, Diliman Quezon City, which contains the TV and FM Transmitter building and the Satellite Uplink building; The GMA Fleet Center located on the east corner of Mother Ignacia Avenue and Sergeant Esguerra Avenue, Barangay South Triangle, Diliman Quezon City; and Properties in the key areas across different regions:
Luzon •
•
•
•
•
Land in Barangay Malued, Dagupan City, where the Company’s radio and television studios are located; A 51,135 square meter property in Panghulo, Obando, Bulacan, where an AM transmitter site, a two-storey building, a genset house, and an AM tower are situated; A 2,000 square meter property in Barangay Concepcion Pequeña, Naga City, where a TV relay transmitter and an FM transmitter site are located; and A 10,000 square meter property in La Trinidad, Benguet where an FM transmitter site and a one storey building are situated. A 2000 square meter property in Bayubay Sur, San Vicente, Ilocos Sur where a TV studio is located.
Visayas •
•
• •
•
•
Land located in Nivel Hills, Barangay Lahug, Cebu City, containing a multilevel building which houses radio and television operation facilities; Land in Barangay Tamborong, Jordan, Guimaras where an FM radio and television transmitter is located; Land in Alta Tierra, Jaro, Iloilo City where radio and television studios are located; Land in Barangay Jibao-an, Pavia, Iloilo where an AM transmitter site and building are located; Land in Barangay Sta. Monica, Puerto Princesa City, Palawan where a television relay transmitter site and building are located; and, Land in Barangay Bulwang, Numancia, Aklan where a television relay transmitter site #!
and a building are located. Mindanao •
•
•
Land in Bo. Matina Hills, Davao City where an FM and television transmitter building and studio complex are located; Land in Barangay San Isidro, General Santos City where a television relay transmitter site and a building are located; an d, Land in Barangay Cabatangan, Zamboanga City where a television relay transmitter site and a building are located.
The properties owned by the Company are currently unencumbered and are free from any existing liens. The Company also leases land, building and studio/office space in various locations around the Philippines under lease agreements for periods of between three and 25 years. The lease agreements may be cancelled at the Company’s option. Rental expense of the Company related to this amounted to P18.9 million for the year ended December 31, 2014.
Regional Broadcast Stations GMA owns regional broadcast stations in various parts of the country. Originating TV stations are stand-alone transmitter, studio and production facilities capable of producing and airing live and/or taped programs as well as plugs and advertising within their (local) service area/s independent of, or in conjunction with the national feed. Satellite TV stations are similar to originating TV stations except that they are not equipped with live production capability outside of news bulletins. Satellite TV stations are also capable of broadcasting local plugs or advertising within their respective (local) service areas either independent of, or in conjunction with national program feeds. TV relay stations are limited to transmitter and signal receiving facilities and only re-broadcast programs/content received from originating or satellite TV stations with which they are associated; either via satellite or other receiving methods. The following are GMA’s television and radio stations throughout the Philippines: LIST OF GMA’s OPERATING TV STATIONS NO
STATION
ADDRESS
CONTACT NUMBER
LUZON TV-7 Metro Manila (GMA) 1 TV-27 Metro Manila (GNTV)
Brgy. Culiat, Tandang Sora, Quezon City Brgy. Culiat, Tandang Sora, Quezon
(02) 931-9183 / (02) 9242497 (02) 931-9183 / (02) 924-
##
City
2497
TV-5 San Nicolas, Ilocos Norte (GMA)
Brgy. San Lorenzo, San Nicolas, Ilocos Norte
0916-6715439
TV-27 San Nicolas, Ilocos Norte (GNTV)
Brgy. San Lorenzo, San Nicolas, Ilocos Norte
0916-6715439
TV-48 Bantay, Ilocos Sur (GMA)
Mt. Caniao, Bantay, Ilocos Sur
TV-40 Bantay, Ilocos Sur (GMA)
Mt. Caniao, Bantay, Ilocos Sur
4
TV-7 Basco, Batanes (GMA)
Brgy. Kayvaluganan, Basco, Batanes
0915-6127197
5
TV-13 Aparri, Cagayan (GMA)
Hi-Class Bldg., De Rivera St., Aparri, Cagayan
0915-6130530
TV-7 Tuguegarao, Cagayan (GMA)
No. 91 Mabini St., Tuguegarao City
TV-27 Tuguegarao, Cagayan (GNTV)
No. 91 Mabini St., Tuguegarao City Heritage Commercial Complex, Maharlika Hi-way, Brgy. Malvar, Santiago City, Isabela
0915-2700063
7
TV-7 Santiago City, Isabela (GMA)
8
TV-5 Baler, Aurora (GMA)
Purok 3, Brgy. Buhangin, Baler, Aurora
0915-6127194
TV-10 Olongapo (GMA)
Upper Mabayuhan, Olongapo City
0915-6127265
TV-26 Olongapo (GNTV)
Upper Mabayuhan, Olongapo City
0915-6127265
Exclusively His Bldg. located at F. Tanedo St. corner Espinosa St., Tarlac City
0915-2700185
TV-28 Tarlac City (GNTV)
TV-12 Batangas (GMA)
Mt. Banoy, Bo. Talumpok East, Batangas City
0915-8632860
TV-26 Batangas (GNTV)
Mt. Banoy, Bo. Talumpok East, Batangas City
0915-8632860
TV-44 Jalajala, Rizal (GMA)
Mt. Landing, Jalajala, Rizal
0915-8632874
TV-13 San Jose, Occidental Mindoro (GMA)
Bonifacio St., San Jose, Occidental Mindoro
0915-6127199
TV-26 San Jose, Occidental Mindoro (GNTV)
Bonifacio St., San Jose, Occidental Mindoro
0915-6127199
Poblacion, Brooke’s Point, Palawan
0915-6127181
2
0915-8632841
3 0915-8632841
0915-6127263
6 0915-6127263
9
10
11
12
13
14
TV-6 Brooke’s Point,
#$
Palawan (GMA) TV-8 Coron, Palawan (GMA)
Tapias Hill, Coron, Palawan
0915-6127178
TV-12 Puerto Princesa, Palawan (GMA)
Mitra Rd., Brgy. Sta. Monica, Puerto Princesa, Palawan
0915-6127185
TV-27 Puerto Princesa, Palawan (GNTV)
Mitra Rd., Brgy. Sta. Monica, Puerto Princesa, Palawan
0915-6127185
TV-7 Tablas, Romblon (GMA)
Triple Peak, Sta. Maria, Tablas, Romblon
0915-6127225
TV-12 Legazpi, Albay (GMA)
Mt. Bariw, Estanza, Legaspi City
0915-8632867
TV-27 Legazpi, Albay (GNTV)
Mt. Bariw, Estanza, Legaspi City
TV-8 Daet, Camarines Norte (GMA)
Purok 2, Brgy. Mancruz, Daet, Camarines Norte
TV-7 Naga, Camarines Sur (GMA)
Brgy. Concepcion Pequeña, Naga City
TV-28 Naga, Camarines Sur (GNTV)
Brgy. Concepcion Pequeña, Naga City
TV-13 Virac, Catanduanes (GMA)
Brgy. Sto. Niño, Virac, Catanduanes
TV-7 Masbate (GMA)
Brgy. Pinamurbuhan, Mobo, Masbate
0915-6127175
TV-27 Masbate (GNTV)
Brgy. Pinamurbuhan, Mobo, Masbate
0915-6127175
23
TV-2 Juban, Sorsogon (GMA)
Mt. Bintacan, Brgy. Maalo, Juban, Sorsogon
0915-2700192
24
TV-7 Abra (GMA)
Brgy. Lusuac, Peñarrubia, Abra
0915-6130512
TV-10 Benguet (GMA)
Mt. Sto. Tomas, Tuba, Benguet
0915-4417080
TV-22 Benguet (GNTV))
Mt. Sto. Tomas, Tuba, Benguet
0915-4417080
TV-5 Mountain Province (GMA)
Mt Amuyao, Barlig. Mountain Province
15
16
17
18
19
0915-8632867
0915-2700056
0915-4417071
20
21
0915-4417071
0915-6127174
22
25
26
0915-2700124
VISAYAS TV-2 Kalibo, Aklan (GMA)
New Busuanga, Numancia, Aklan
0915-6127216
TV-27 Kalibo, Aklan (GNTV)
New Busuanga, Numancia, Aklan
0915-6127216
27
#%
TV-5 Roxas City, Capiz (GMA)
Brgy. Milibili, Roxas City, Capiz
0915-6127217
TV-27 Roxas City, Capiz (GNTV)
Brgy. Milibili, Roxas City, Capiz
TV-6 Jordan, Guimaras (GMA)
Bo. Tamburong, Jordan, Guimaras
TV-28 Iloilo (GNTV)
Alta Tierra Subdivision, Jaro, Iloilo
0915-4417084
TV-13 Bacolod (GMA)
Security Bank Bldg., Rizal St. cor. Locsin St., Bacolod City
0915-8632864
TV-48 Bacolod (GNTV)
Security Bank Bldg., Rizal St. cor. Locsin St., Bacolod City
0915-8632864
31
TV-30 Murcia, Negros Occidental (GMA)
Mt. Kanlandog, Brgy. Canlandog, Murcia, Negros Occidental
0915-2700132
32
TV-10 Sipalay (GMA)
Sipalay Municipal Building, Sipalay, Negros Occidental
0915-6127219
33
TV-11 Tagbilaran, Bohol (GMA)
Banat-I Hills, Brgy. Bool, Tagbilaran City
0915-6127214
TV-7 Cebu (GMA)
Bonbon, Cebu City
0915-4417075
TV-27 Cebu (GNTV)
Bonbon, Cebu City
0915-4417075
TV-5 Dumaguete (GMA)
Barrio Looc, Sibulan, Negros Oriental
0915-6131185
TV-28 Dumaguete (GNTV)
Barrio Looc, Sibulan, Negros Oriental
0915-6131185
36
TV-8 Borongan (GMA)
Poblacion, Borongan, Eastern Samar
0915-6127177
37
TV-12 Ormoc, Leyte (GMA)
Brgy. Alta Vista, Ormoc City
0915-6127213
TV-10 Tacloban (GMA)
Basper, Tigbao, Tacloban City
0915-6127208
TV-26 Tacloban (GNTV)
Basper, Tigbao, Tacloban City
0915-6127208
TV-5 Calbayog City (GMA)
Purok 2 San Mateo St. Brgy. Matobato, Calbayog City, Western Samar
0915-6127176
TV-4 Dipolog (GMA)
Linabo Peak, Dipolog City, Zamboanga Del Norte
0915-6127247
TV-26 Dipolog (GNTV)
Linabo Peak, Dipolog City, Zamboanga Del Norte
0915-6127247
28
29
0915-6127217
0915-4417084
30
34
35
38
39
MINDANAO
40
#&
TV-3 Pagadian (GMA)
Mt. Palpalan, Pagadian City
0915-6127245
TV-26 Pagadian (GNTV)
Mt. Palpalan, Pagadian City
0915-6127245
TV-9 Zamboanga (GMA)
Brgy. Cabatangan, Zamboanga City
0915-8632870
TV-21 Zamboanga (GNTV)
Brgy. Cabatangan, Zamboanga City
0915-8632870
TV-12 Mt. Kitanglad, Bukidnon (GMA)
Mt. Kitanglad, Bukidnon
TV-5 Ozamis, Misamis Occidental (GMA)
Bo. Malaubang, Ozamis City, Misamis Occidental
0915-6127220
TV-22 Ozamis, Misamis Occidental (GNTV)
Bo. Malaubang, Ozamis City, Misamis Occidental
0915-6127220
TV-11 Iligan City (GMA)
Brgy. Del Carmen, Iligan City
0915-6131202
TV-35 Cagayan de Oro (GMA)
Malasag Heights, Brgy. Cugman, Cagayan de Oro City
0915-8632875
TV-43 Cagayan de Oro (GNTV)
Malasag Heights, Brgy. Cugman, Cagayan de Oro City
0915-8632875
Shrine Hills, Matina, Davao City
0915-4417082
Shrine Hills, Matina, Davao City
0915-4417082
TV-12 Cotabato (GMA)
Regional Government Center, Cotabato City
0915-6131170
TV-27 Cotabato (GNTV)
Regional Government Center, Cotabato City
0915-6131170
TV-8 General Santos (GMA)
Nuñez St., Brgy. San Isidro, General Santos City
0915-8632871
TV-26 General Santos (GNTV)
Nuñez St., Brgy. San Isidro, General Santos City
0915-8632871
TV-10 Surigao (GMA)
Lipata Hills, Surigao City
0915-6131227
TV-27 Surigao (GNTV)
Lipata Hills, Surigao City
0915-6131227
51
TV-2 Tandag (GMA)
Capitol Hill, Brgy. Telaje, Tandag, Surigao del Sur
0915-6127248
52
TV-12 Jolo (GMA)
Ynawat Bldg., Hadji Butu St., Jolo, Sulu
0915-6131182
41
42
43
0915-8632863
44
45
46
TV-5 Davao (GMA) 47 TV-27 Davao (GNTV)
48
49
50
#'
GMA’s RADIO STATIONS AREA
FREQ.
CALL SIGN
POWER
ADDRESS
97.1 mhz.
DWLS
FM
594 khz.
DZBB
AM
BAGUIO
92.7 mhz.
DWRA
FM
5kW
2/F Baguio Midland Courier Bldg. 16 Kisad Rd., Baguio City
DAGUPAN
93.5 mhz.
DWTL
FM
10kW
GMA TV 10 Compound, Claveria Road,
LUZON METRO MANILA
25kW
GMA Complex, EDSA cor. Timog Ave., Diliman, Quezon City
50kW
Malued District, Pangasinan
Dagupan
City,
LEGASPI
96.3 mhz.
DWCW
FM
10kW
3rd level A.Bichara Entertainment Center, St., Legazpi City
LUCENA
91.1 mhz.
DWQL
FM
10kW
3/F Ancon Bldg., Merchan Street , Lucena City
NAGA
101.5 mhz.
DWQW
FM
5kW
GMA Complex, Diversion Road.(Roxas Ave) beside Mother Seton Hospital, Naga City
PALAWAN
909 khz.
DYSP
AM
5kW
97.5 mhz.
DYHY
FM
5kW
89.3 mhz.
DWWQ
FM
10kW
4/F Villablanca Hotel Pattaui St. cor Pallua Rd., Ugac Norte Tuguegarao, Cagayan
107.1mhz.
DYEN
FM
10kW
3/F San Jose Bldg., Jomabo Centre
TUGUEGARAO
Silversreen Magallanes
Solid Road, San Manuel Princesa City, Palawan
Puerto
VISAYAS
BACOLOD
#(
Rizal Cor. Lacson Sts., Bacolod City CEBU
999 khz.
ILOILO
99.5 mhz.
DYSS DYRT
AM FM
10kW 25kW
GMA Skyview Complex Nivel Hills, Lahug, Cebu City
1323 khz
DYSI
AM
5kW
GMA Broadcast Complex, Phase 5, Alta Tierra Village Jaro, Iloilo City
93.5 mhz.
DYMK
FM
10kW
92.9 mhz.
DYRU
FM
5kW
Torres-Olivia Bldg. Roxas Extension, Kalibo, Aklan
100.7 mhz.
DXLX
FM
5kW
2/F Marel Realty Bldg., Pabayo corner Hayes St. Cagayan de Oro City, Misamis Oriental
ILIGAN
DZBB Relay
DXND
FM
1kW
3/F Kimberly Bldg., A. Bonifacio cor. I. Emilia Ave., Iligan City, Lanao del Norte
DAVAO
103.5 mhz.
DXRV
FM
10kW
GMA Network Complex, Shrine Hills,
1125 khz
DXGM
AM
10kW
Matina Davao City
102.3 mhz.
DXCJ
FM
10kW
3/F PBC Bldg., Cagampang St. Gen. Santos City
KALIBO
Ave.
MINDANAO
CAGAYAN ORO
GENERAL SANTOS
DE
PROPERTIES INTENDED FOR ACQUISITION As of the present, the Company does not intend to acquire any predetermined property within the next twelve (12) months.
Item 3. Legal Proceedings The Company and its subsidiaries are involved, from time to time, as plaintiff or defendant in litigation arising from transactions undertaken in the ordinary course of its business. Described below are the pending material litigation of which the Company and its subsidiaries or their #)
properties are subject. The Company believes that a judgment rendered against it in the cases indicated below will not have a material adverse effect on its operations or financial condition. None of the Company’s affiliates, or their property, namely, RGMA Network, Inc., Philippine Entertainment Portal, Inc. and Mont-Aire Realty and Development Corporation, are involved in any material pending litigation as of December 31, 2010. Labor Cases There is a pending case for illegal dismissal, unfair labor practices, non-payment of overtime pay, holiday pay, premium pay for holiday and rest day and night shift differential and service incentive leave pay filed by Carlos Pabriga, Geoffrey Arias, Kirby Campo, Arnold Lagahit and Armand Catibug. The complainants were engaged on various dates from 1993 to 1997 to replace regular employees of the Company’s Cebu station who were on leave or otherwise unable to work. On August 24, 2000, the Labor Arbiter dismissed the complaints for illegal dismissal and unfair labor practices, but directed the Company to pay complainants their proportionate 13th-month pay. On appeal, the NLRC held that the complainants were regular employees with respect to the particular activity they were assigned until the activity ceased to exist and that they were entitled to separation pay, 13th-month pay, night shift differential and service incentive leave pay. The complainants claim that by virtue of this ruling, they are entitled to payment of a total of approximately P1.5 million as of March 2007. The Supreme Court denied our Petition and affirmed the findings of the Court of Appeals that complainants are regular employees of the Company. Execution proceedings are ongoing before the Labor Arbiter to determine the amount of the award for complainants. There is also a case for illegal dismissal filed against GMA Marketing and Productions, Inc. (“GMPI”), another wholly-owned subsidiary of GMA Network, and its officers, Lizelle Maralag and Leah Nuyda initiated by Corazon Guison, a former Sales Director of GMPI. The complainant claimed that she was unceremoniously terminated from her employment sometime in May 2010 and is entitled to reinstatement as well as payment of full backwages, unpaid commissions and salaries, moral and exemplary damages and attorney’s fees. On January 31, 2011, the Labor Arbiter rendered a decision finding for complainant Guison and ordered the respondents to pay P807,007.50 as backwages and P1,691,000.00 as separation pay, as well as attorney’s fees. On appeal, the NLRC reversed the decision of the Labor Arbiter and ordered the dismissal of complainant’s complaint. Complainant filed a Petition with the Court of Appeals where it is pending. There is a case (NLRC LAC No. 02-000863-13[8]) for regularization filed by pinch-hitters or relievers of GMA, namely, Ricky F. Villarin, Danilo Dela Cruz, Rolin Pilante and Johnny Anito, Jr. against GMA Network, Inc. The Labor Arbiter rendered a decision declaring the relievers as regular employees of GMA. GMA appealed to the NLRC which denied the same. GMA’s motion for reconsideration was likewise denied. Hence, GMA filed with the Court of Appeals a Petition for Certiorari docketed as CA.G.R. No.132455, The Court of Appeals rendered a Decision denying GMA’s petition. GMA then filed a motion for reconsideration which is still pending to date. #*
There is a case (NLRC NCR Case No. 12-18557-12) for illegal dismissal, backwages, damages and attorney’s fees filed by James Aaron Castillo Manalili against GMA, et al.. Complainant Manalili was a segment producer whose Talent Agreement was terminated for cause. The Labor Arbiter rendered a decision dismissing the complaint on the finding that there was no employer-employee relationship. Hence, there is no illegal dismissal. The Labor Arbiter also affirmed the validity of the termination of the Talent Agreement. However, the Labor Arbiter awarded 13th month pay in favor of Manalili. Hence, we filed a partial appeal for GMA. On appeal, the NLRC, affirmed the labor arbiter’s decision but deleted the award of 13th month pay to complainant. Complainant’s motion for reconsideration was likewise denied by the NLRC. Complainant filed a Petition with the Court of Appeals where it is pending. There is a case (NLRC NCR Case No. 01-00024-13) for illegal dismissal and money claims filed by Christopher Cruz Legaspi against GMA and its executives. Complainant Legaspi is an employee of GMA who was dismissed for cause. The Labor Arbiter rendered a decision finding illegal dismissal. However, the decision was reversed on appeal by the NLRC. Complainant filed a motion for reconsideration which was also denied by the NLRC. There is a case for regularization and illegal dismissal (NLRC NCR Case No. 04-05664-13[22]) filed by Henry T. Paragele, Roland Elly C. Jaso, et al. against GMA. Complainants are relievers/pinch hitters whose services were no longer availed of by GMA. The Labor Arbiter rendered a decision dismissing the complaint. Complainants filed an appeal to the NLRC. NLRC rendered a decision dismissing the appeal. Complainants filed a motion for reconsideration which was also denied by the NLRC. Complainants filed a Petition with the Court of Appeals where it is pending. There is another case for illegal dismissal and money claims (NLRC CASE No. NCR-07-0987513; NCR-07-10010-13; NCR-07-10135-13) filed by the drivers of GMA, namely, Marcelo S. Santiago and Serafin R. Palopalo, Jr., assigned to various programs and covered by Talent Agreements which expired and were no longer renewed. The Labor Arbiter rendered a decision dismissing the complaint on the ground that the Talent Agreements are fixed term employment contracts. Complainants appealed to the NLRC which reversed the Labor Arbiter’s decision by declaring complainants as regular employees of GMA. We filed a motion for reconsideration which was also denied by the NLRC. We filed a Petition with the Court of Appeals where it is pending. There is a case for illegal dismissal, backwages and other money claims (NLRC-NCR-0709474-13) filed by former segment producer De Chaves against GMA. Complainant was terminated for cause by GMA. The Labor Arbiter rendered a decision dismissing the complaint. De Chavez appealed to the NLRC which denied her appeal and affirmed the Labor Arbiter’s decision. Another pending case for illegal dismissal and regularization (NLRC NCR 01-00164-14) was filed by former utility personnel Reynaldo Delos Santos Aranas, et.al against GMA/Atty. Felipe L. Gozon. Complainants’ talent agreements were not renewed by GMA. Proceedings before the Labor Arbiter are pending. $+
There is a case for regularization (NLRC NCR Case No. 06-06683-14) filed by Christian Bochee M. Cabaluna, et al. against GMA/Atty. Felipe L. Gozon. Both parties filed their position papers and replies. After filing the replies, the labor arbiter considered the case submitted for decision/resolution. However, on February 24, 2015, we received a copy of complainant’s Rejoinder. We are set to file our Sur-Rejoinder thereto. Infringement Cases The Company’s officers, Felipe L. Gozon, Gilberto R. Duavit, Jr., Marissa L. Flores, Jessica A. Soho, Grace dela Peña-Reyes, John Oliver Manalastas, John Does and Jane Does were named as respondents in a criminal case initiated in June 2004 for copyright infringement before the City Prosecutor’s Office of Quezon City and the Department of Justice (“DOJ”). The case was subsequently consolidated with the Company’s counter charge for libel. The respondents were charged in their capacities as corporate officers and employees of the Company responsible for the alleged unauthorized airing of ABS-CBN’s exclusive live coverage of the arrival in the Philippines of Angelo dela Cruz, a Filipino overseas worker previously held hostage in Iraq. Aside from seeking to hold the named respondents criminally liable for infringement and unfair competition, ABS-CBN sought damages from the respondents jointly and severally in the aggregate amount of P200 million. On July 27, 2004, the Company and certain of its officers filed a case for libel against certain officers of ABS-CBN for statements made in their programs Insider and Magandang Umaga Bayan relative to the incident involving the dela Cruz feed. The Company also seeks damages in the aggregate amount of P100 million. In a Resolution dated December 3, 2004, the DOJ dismissed the complaint for libel against the ABS-CBN officers and employees and dropped the charges against the Company’s officers except for Ms. Dela Peña-Reyes and Mr. Manalastas against whom the DOJ found probable cause for violation of the Intellectual Property Code. ABS-CBN filed a motion for partial reconsideration of the resolution on the grounds that the other named respondents were erroneously exonerated. The Company filed a petition for review with the DOJ with respect to the finding of probable cause against Ms. Dela Peña-Reyes and Mr. Manalastas and the dismissal of the case for libel which was denied. On August 1, 2005, the DOJ reversed the fiscal’s resolution finding probable cause against Ms. dela Peña-Reyes and Mr. Manalastas and directed the fiscal to withdraw the Information. ABS-CBN filed a motion for reconsideration. Meanwhile, the DOJ issued a Resolution dated September 15, 2005 denying the Company’s Petition for Review and ruling that ABS-CBN’s officers and employees did not commit libel. The Company filed a motion for reconsideration. On June 29, 2010, the DOJ issued a Resolution granting both the Company’s and ABS-CBN’s Motion for Reconsideration, and directing the filing of Information against ABS-CBN’s officers and employees for libel. ABS-CBN moved for reconsideration which was denied by the DOJ. ABS-CBN filed a Petition with the Court of Appeals. In the meantime, an Information for libel $!
was filed by the Quezon City Prosecutor with the Regional Trial Court of Quezon City, Branch 88. The Company elevated the DOJ’s June 29, 2010 Resolution directly to the Court of Appeals via a Petition for Certiorari docketed as CA-G.R. SP No. 115751. On November 9, 2010, the Court of Appeals issued a decision granting the Company’s Petition for Certiorari and reversing the DOJ Resolution dated June 29, 2010 and reinstating the DOJ Resolution dated August 1, 2005 which ordered the withdrawal of Information for copyright infringement. ABS-CBN filed a Petition with the Supreme Court where it is pending. Civil Cases A case for damages was filed by Ronaldo Virola against Miguel Enriquez and the Company. Ronaldo Virola filed a case for damages arising from the airing of Imbestigador episodes showing the interviews of “Myra” and “Chona” who accused Virola of placing drugs in their drinks before molesting them. The said Imbestigador episodes also showed the raid conducted by operatives of Task Force Jericho of the Department of Interior and Local Government who applied for a warrant to search the residence of Virola. The complaint sought P800,000 in moral damages, P300.000 in exemplary damages, attorney’s fees in the amount of P100.000 and the cost of suit. The Regional Trial Court of Caloocan dismissed the complaint after trial. Plaintiff appealed to the Court of Appeals which dismissed his appeal and affirmed the trial court’s decision dismissing his complaint for damages. On June 25, 2008, Mary the Queen Hospital filed a case for damages against the Company, Mike Enriquez as well as certain other members of the show, Imbestigador . The hospital alleged that the show damaged its reputation by falsely accusing them of illegally detaining a patient for failure to settle hospital bills. The hospital claimed a total of P 5.5 million in moral, exemplary and temperate damages, as well as costs of the suit. The plaintiff is in the process of presenting its evidence. Another case involved the Company and members of the show Imbestigador , stemmed from a story involving a police officer allegedly extorting money from arrested drug dependents, which ultimately led to his arrest. On September 4, 2008, the complaint sought to enjoin the airing of the story relating to his arrest by filing a case for injunction. However, the plaintiff’s application for restraining order was denied by the RTC of Quezon City. Plaintiff then filed an amended complaint to include a claim for damages. The plaintiff is still presenting evidence before the trial court.
Item 4. Submission of Matters to a Vote of Security Holders There were no matters submitted to a vote of security holders during the fourth quarter of the fiscal year covered by this report.
$#
PART II - OPERATIONAL AND FINANCIAL INFORMATION
Market Information Stock Prices GMA7 Period 2014
in
Highest Closing
Lowest Closing
1Q
8.85
7.40
2Q
7.97
7.40
3Q
7.90
7.15
4Q
7.68
6.30
Stock Prices GMAP Period 2014
in
Highest Closing
Lowest Closing
1Q
9.00
7.78
2Q
8.00
7.30
3Q
7.45
6.82
4Q
6.95
5.99
The Company’s common shares and Philippine Deposit Receipts have been listed with the Philippine Stock Exchange since 2007. The price information as of the close of the latest practicable trading date February 28, 2015; GMA7’s closing price is P6.30 for GMA 7 and P6.19 for GMAP (PDRs). Holders There are 1,702 holders of common equity as of March 31, 2015. The following are the top 20 holders of the common equity of the Company:
$$
Name of Shareholders
GMA Holdings, Inc.
847,509,800
25.17%
Group Mgmt. & Development, Inc.
789,813,389
23.47%
FLG Management & Development Corp.
669,929,127
20.01%
M.A. Jimenez Enterprises, Inc.
453,882,095
13.49%
Television International Corp.
334,378,037
9.94%
PCD Nominee Corp.
216,180,446
6.43%
14,033,954
0.42%
Gozon Foundation, Inc.
4,514,361
0.13%
Gilberto R. Duavit, Jr.
4,007,006
0.12%
Ismael Gozon
2,814,900
0.08%
Miguel Enrique Singson Roa
2,566,400
0.08%
Alegria R. Sibal
1,093,252
0.03%
Felipe S. Yalong
1,025,000
0.03%
Alberto Tio Ong
1,000,000
0.03%
Jose Mari L. Chan
872,000
0.03%
Judith Duavit Vazquez
588,000
0.02%
Anna Teresa G. Abrogar
529,000
0.02%
Jose P. Marcelo
501,498
0.01%
Jaime Javier Gana and/or Ma. Erlinda G. Gana
444,900
0.01%
Kong Yu Uychoi
350,000
0.01%
Gozon Development Corp.
Common
Percentage of Ownership of Total Common Shares
No. of Shares
%$ The following are the top 20 holders of the Company’s preferred shares as of March 31, 2015:
Name of Shareholders
Group Mgmt. & Development Inc.
No. of Shares
Preferred
Percentage of Ownership of Total Preferred Shares
2,625,805,308
35.0130%
FLG Management & Development Corp. 2,181,898,644
29.0939%
M.A. Jimenez Enterprises
1,508,978,826
20.1210%
Television International Corp.
1,111,661,610
14.8231%
Gozon Development Corp.
46,245,306
0.6166%
Gozon Foundation Inc.
15,020,670
0.2003%
Alegria F. Sibal
2,623,806
0.0350%
Jose P. Marcelo
1,203,594
0.0160%
Sotero H. Laurel
830,706
0.0111%
Nita Laurel Yupangco
830,706
0.0111%
Jose C. Laurel V
830,706
0.0111%
Juan Miguel Laurel
830,706
0.0111%
Susana Laurel-Delgado
830,706
0.0111%
Ma. Asuncion Laurel-Uichico
830,706
0.0111%
Horacio P. Borromeo
784,164
0.0105%
Francis F. Obana
105,120
0.0014%
Eduardo Morato
38,028
0.0005%
Antonio Gomez
30,420
0.0004%
Jose N. Morales
30,420
0.0004%
Paul Sim
30,420
0.0004%
The information presented does not relate to an acquisition, business combination or other reorganization. Dividend Information Dividends shall be declared only from the surplus profits of the corporation and shall be payable at such times and in such amounts as the Board of Directors shall determine, either in cash, shares or property of the Company, or a combination of the three, as said Board of Directors shall determine. The declaration of stock dividends, however, is subject to the approval of at least two-thirds of the outstanding capital stock. No dividend which will impair the capital of the Company shall be declared. The Company has no contractual restrictions which would limit its ability to declare any dividend. $&
Dividend History of the Company Year
Amount
Date Declared
Type of Dividend
2005
P
February 17, 2005
Cash and Property
2005
P 3,000,000,000.0
October 11, 2005
Stock
2006
P 1,150,000,000.0
June 13, 2006
Cash and Property
2007
P 1,500,000,000.0
March 19, 2007
Cash
2007
P
April 26, 2007
Stock
2007
P 1,000,000,000.0
July 2, 2007
Cash
2008
P 1,214,163,001.0
May 21, 2008
Cash
2009
P 1,701,069,453.0
April 2, 2009
Cash
2010
P 2,187,089,296.56
March 25, 2010
Cash
2010
P 1,215,049,069.20
October 28, 2010
Cash
2011
P 2,187,089,296.56
March 11, 2011
Cash
2012
P 1,944,079,375
April 16, 2012
Cash
2012
P 1,264,794,293
August 22, 2012
Cash
2013
P 1,215,049,609
March 21, 2013
Cash
2014
P 1,312,253,577
April 2, 2014
Cash
March 30, 2015
Cash
2015
218,521,203.5
375,000,000.0
P1,215,049,609.20
The Company’s Board of Directors has approved a dividend policy which will entitle holders of the Common Shares to receive annual cash dividends equivalent to a minimum of 50% of the prior year’s net income based on the recommendation of the Board of Directors. Such recommendation will take into consideration factors such as the implementation of business plans, operating expenses, budgets, funding for new investments, appropriate reserves and working capital, among others. The cash dividend policy may be changed by the Company’s Board of Directors at any time. Recent Sales of Unregistered or Exempt Securities No sale of unregistered or exempt securities of the Company has occurred within the past three years.
Item 6. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 $'
The Management Discussion and Analysis provides a narrative of the Company’s financial performance and condition that should be read in conjunction with the accompanying financial statements, which have been prepared in accordance with accounting principles generally accepted in the Philippines. As discussed below, the Company’s financial statements do not show any losses from operation and hence the Company has not taken any measures to address the same. KEY PERFORMANCE INDICATORS The Company uses the following measures to assess its performance from period to period. Ratings The performance of a program and/or network as a whole with respect to household ratings is the primary consideration for an advertiser in the Philippines to determine whether to advertise on a given program and/or network. AGB Nielsen, a media research firm, provides ratings to the Company on a subscription basis. Load Factor Load factor refers to the amount of advertising minutes aired during the breaks in a program as a percentage of the total minutes available for advertisement. The load factor is an indication of a program’s or a timeblock’s ability to sell advertising minutes. Load factor statistics are internally generated, although certain third parties monitor such statistics. Signal reach/coverage The ability to reach a greater number of viewers is a part of the Company’s strategy to provide its advertisers with more value for their advertising expenditures. The Company frequently assesses its signal strength and coverage b y conducting field intensity surveys and tests. Subscriber count Subscriber count is the key performance indicator for the Company’s initiatives in the international cable arena to diversify its revenue base beyond advertising revenues. The number of subscribers to the Company’s GMA Pinoy TV, GMA Life TV and GMA News TV International form the benchmark for measuring the success of this service. The Company makes internal assessments to determine the market potential for each new initiative and sets a subscriber count target accordingly. Cost control
$(
The Company is continuously searching for ways to control costs and to improve efficiency. The Company has established systems and procedures to monitor costs and measure efficiency and has launched various initiatives and activities in relation to these efforts.
FINANCIAL AND OPERATIONAL RESULTS For the Year Ended December 31, 2014 GMA Network and its subsidiaries (GMA/the Company) concluded 2014 with consolidated revenues at P =11,983 million, 7% or nearly a billion shy compared to prior year’s P =12,951 million top line. Without some P =724 million worth of non-recurring revenues from the 2013 mid-term elections which boosted prior year’s top line – revenues for the twelve-month period in 2014 nonetheless trailed behind, albeit by only 2% or P =244 million. The Company incurred total operating expenses (OPEX) amounting to P =10,574 million in 2014, yielding a flat growth vis-à-vis 2013 spending. In fact, cash OPEX even contracted by P =136 million or 1%, which was offset by the hike in non-cash spending by P =144 million. With the foregoing results, consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for 2014 concluded at P = 2,925 million, lower than last year by P =794 million or 21% with the shortfall in the top line accounting for the drag. Similarly, consolidated net income sealed at P =1,010 million, down P =665 million or 40% year-on-year. The rise in noncash operating expenses took its toll in further trimming down this year’s bottom line.
Income Data Revenues Television and radio airtime Production and others
Total operating expenses EBITDA Net income Attributab le to Equity Holders of Parent Company Noncontrolling Interest
2013 (in millions PhP)
2014 (in millions PhP)
Inc/(Dec) (in millions PhP)
%
(1,047.9) 79.9 (968.0)
-9% 7% -7%
11,726.8 1,224.1 12,950.9
10,565.3 3,718.2 1,675.0
8.4 (793.7) (665.5)
0.1% -21% -40%
1,004.7
1,666.9
(662.3)
-40%
4.9
(3.2)
-39%
10,678.9 1,304.0 11,982.9 10,573.8 2,924.5 1,009.5
8.0
Revenues Consolidated revenues for the year 2014 reached P =11,983 million, lower tha n prior period by 7% or P =968 million as 2013 top line was boosted by the windfall from the mid-term elections that year. Airtime revenues provided the drag with a 9% drop partly cushioned by the rise in revenues from other sources which grew by 7%. $)
2014 Revenues
Television a nd radio airtime Production and others
(in millions PhP) 10,678.9 1,304.0 11,982.9
2013 (in millions PhP)
Inc/(Dec) (in millions PhP)
%
11,726.8 1,224.1 12,950.9
(1,047.9) 79.9 (968.0)
-9% 7% -7%
Airtime revenues pulled down combined topline, dropping by 9% or P =1,048 million compared with 2013’s full year performance. Biggest setback was seen in banner platform, Ch-7, which ended the year with a shortfall in revenues by 10%. After discounting the impact of political ads in 2013, the channel finished off only 4% less vs. recurring revenues of prior period. Radio operations was more upbeat -- while revenues remained flat year-on-year, the platform exhibited a 6% hike in sales vis-à-vis recurring revenues in 2013. On a more positive note, leading free-to-air news channel, GNTV-11, wrapped up with recurring revenues ahead of prior period by 6%. Lastly, sales from Regional TV operations edged 2013 results by 2% even after carving out election-related placements. Moreover, discounting the impact of political ads, Regional TV improved sales from regular advertisers by 10% year-on-year. Ratings-wise, GMA ended 2014 on a strong note as it ruled over competition in full year Urban Luzon and Mega Manila, according to the industry’s widely-trusted ratings service provider Nielsen TV Audience Measurement. Based on full year 2014 ratings, GMA reaffirmed its total day household shares supremacy in the viewer-rich areas of Urban Luzon and Mega Manila, while leading across all dayparts including the highly contested primetime slot in both areas. In Urban Luzon, which accounts for 77 percent of the total urban TV households nationwide, GMA recorded an average total day household audience share of 36.4 percent, surpassing ABS-CBN’s 31.3 percent by 5.1 points, and TV5’s 10.1 percent by 26.3 points. GMA also posted a commanding 37.6 percent in Mega Manila, higher than ABS-CBN’s 28.8 percent by 8.8 points, and TV5’s 10.9 percent by 26.7 points. Mega Manila represented 60 percent of all urban TV households in the country in 2014. Moreover, GMA scored higher nationwide shares than rival networks in the daytime blocks based on data covering the entire year. In the morning block, GMA registered 31.7 percent against ABS-CBN’s 29.9 percent and TV5’s 12.9 percent; while in the afternoon block, GMA posted 34.8 percent versus ABS-CBN’s 32.5 percent and TV5’s 11.1 percent. GMA subscribes to the Nielsen TV Audience Measurement service, while ABS-CBN is the lone local major TV network that subscribes to Kantar Media, formerly known as TNS. Nielsen data is gathered through a greater number of sampled homes nationwide in comparison to Kantar Media. In the meantime, revenues from other businesses showed improvements by recording a 7% or P =80 million hike to P =1,304 million compared to a year ago. The Company’s international operations continued to gain ground worldwide with revenues climbing by 10% as GMA Pinoy $*
TV, GMA Life TV and GMA News TV International grew subscriber count by 4%, 8% and 59%, respectively. While the US remained the biggest area of concentration, Canada has been the primary source of growth for the platform in terms of new subscribers. At the same time, audiences in Vietnam, Cambodia, Malaysia, and Nigeria, (to name a few) continue to enjoy popular Kapuso programs as GMA Worldwide, the global content distribution and acquisition arm of the Network, sold an aggregate 2,052 hours of locally-produced programs and movies, consequently increasing distribution revenues by 21% year-on-year. These were, however, partly weighed down by the decline in theatrical receipts as there were far less movies produced by GMA Network Films, Inc. in 2014 compared to previous year.
Expenses Total operating expenses for the year amounted to P =10,574 million, about the same as 2013’s P = 10,565 million. Total direct costs (cash and non-cash production costs) in fact even contracted by P =346 million or 6%, but were equalized by the escalation in general and administrative expenses (GAEX) by P354 million or 8%. Production costs (both cash and non-cash) comprising 53% of total costs wrapped up at P =5,552 million, lower than previous year by P =346 million or 6%. Cash production cost settled at P =4,600 million even be low 2013 spending by P =444 million or 9%. This was partly offset by the rise in non-cash direct cost by P =98 million or 12%. In particular, amortization of program rights grew by P =81 million or 14% to P = 647 million attuned to the change in programming mix during the early part of the year which featured canned movies in selected slots during the weekday evening and afternoon primetime blocks vice station-produced programs.
Production Costs
Talent fees Rentals and outside services Other program expense s Sub-total - Cash Production Costs Program rights a mortization Depreciation and a mortization Sub-total - Non-cash Production Costs Total production costs
2013 (in millions PhP)
2014 (in millions PhP) 2,738.8 740.4 1,121.2 4,600.4 646.7 304.7 951.4 5,551.8
3,043.9 819.2 1,181.8 5,044.8 565.4 287.6 852.9 5,897.7
Inc/(Dec) (in millions PhP)
(305.0) (78.8) (60.6) (444.4) 81.3 17.2 98.5 (345.9)
%
-10% -10% -5% -9% 14% 6% 12% -6%
General and administrative expenses (GAEX) by the end of the year wrapped up at P =5,022 million, equivalent to a 8% or P =354 million increase vs. the same period in 2013. Personnel cost was the main driver for the rise in spending brought about by the one-time signing bonus given to R&F employees in relation to the recently concluded Collective Bargaining Agreement and appreciation bonus granted to confidential employees. Without this non-recurring expense,
%+
total GAEX climbed by only 2%. Manpower count has practically remained at about the same level with only a 3% increase in regular employees between periods. Taxes and licenses likewise scaled to P =232 million, higher by P =91 million or 65% due to the rise in business taxes and payout of prior years’ tax deficiency assessments. These increases were partly cushioned by the reduction seen in Outside services (such as advertising & promotions, marketing fees and research and survey) and from lower Facilities costs, particularly repairs & maintenance expenses. Other increase in GAEX was seen in depreciation and amortization mostly in the Company’s facilities, furniture and fixture and computers. General and Administrative Expenses Personnel costs Outsid e s ervices Facilities costs Taxes and l icenses Others Subtotal - Cash GAEX Depreciation and a mortization Provisi on for do ubtful accounts Amortization of software cos ts Subtotal - Non-cash GAEX Total GAEX
2013 (in millions PhP)
2014 (in millions PhP) 2,528.8 422.2 592.0 231.9 751.5 4,526.3 471.6 0.7 23.4 495.6 5,022.0
2,170.2 507.7 665.0 140.7 734.2 4,217.9 417.9 0.8 31.0 449.7 4,667.6
Inc/(Dec) (in millions PhP)
%
358.6 (85.6) (73.0) 91.2 17.2 308.5 53.7 (0.1) (7.6) 45.9 354.4
17% -17% -11% 65% 2% 7% 13% -16% -25% 10% 8%
EBITDA Earnings before interest, taxes, depreciation and amortization (EBITDA) sealed at P =2,925 million, recording a 21% or P =794 million reduction from prior year. Even as cash operating costs wrapped up lower in 2014 vs. a year ago, this was not enough to compensate for the shortfall in the topline Net Income Net income was pushed back to P =1,010 million, down P =665 million or 40% from 2013’s P =1,675 million with the reduction in revenues year-on-year as the main culprit. Balance Sheet Accounts Total assets as at end-2014 stood at P =14,021 million, reflecting a 7% increase from end-2013’s P = 13,084 million. Cash and cash equivalents dropped to P =1,599 million, 9% or P =151 million less than the P =1,750 million recorded as at December 31, 2013. On the other hand, trade and other receivables sealed at P =4,638 million, 32% higher than prev ious year. Trade days-sales-outstanding (DSO) %!
closed the year 2014 at 114 days, 22 days longer than the recorded DSO of 92 days at end2013. Total liabilities climbed by 36% or P =1,529 million as at end-December this year to P =5,787 million from P =4,529 million in 2013 mainly from additional availments of short-term loans from P = 1,107 million last year to P =2,223 million as at end-2014. Equity attributable to Parent Company stockholders of P =8,191 million dipped by 7% or P =598 million in between years arising from dividend declared in 2014 of P =1,312 million, aggravated by lower net income earned during the year.
Cash Flows Net cash provided by operating activities Net cash us ed in investing a ctivities Net cash us ed in financing activities Effect of exchange rate changes on cas h and cash e quivalents Net increase (decreas e) in cash and cas h equivalents Cash and cas h equivalents at beginning of period Cash and cash equivalents at end of period
2014 (in millions PhP) 661.9 (553.1) (262.0) 2.3 (150.8) 1,749.6 1,598.8
2013 (in millions PhP) 3,055.3 (666.1) (1,941.7) 14.8 462.3 1,287.3 1,749.6
Operating Activities Net cash from operations registered at P =662 million in 2014. This resulted from income before income tax of P =1,457 million, adjusted mainly by depreciation expense of P =776 million, program and other rights usage of P =647 million, pension expense of P =163 million, interest expense and financing charges of P =36 million and amortization of software costs of P =31 million apart from the changes in working capital. The primary components of the changes in working capital included the P =1,115 million increase in trade and other receivables, partly offset by the P =149 million rise in trade payables and other current liabilities. Investing Activities Net cash used in investing activities amounted to P =553 million, coming primarily from the P =599 million net additions to property and equipment and P =22 million worth of software costs. These were partly offset by the P =75 million and P = 2 million proceeds from sale of property and equipment and investment properties, respectively. Financing Activities Net cash used in financing activities amounted to P =262 million basically due from the loan payment of P =1,107 million and cash dividend payout amounting to P =1,311 million during the year, plus some P =35 million in interest expense netted by P =2,192 million remaining proceeds from short-term loans.
%#
FINANCIAL AND OPERATIONAL RESULTS For the Year Ended December 31, 2013 Buoyed by election-related advertisements during the first half of the year, GMA Network, Inc. and its subsidiaries (GMA/the Company) sealed 2013 consolidated revenues at P =12,951 million, ahead by 7% over last year. Airtime sales which comprised 91% of total revenues grew by P = 879 million or 8% year-on-year. On the other hand, revenues from other businesses slightly dipped by P =14 million or 1%. Spending-wise, the Company hiked total operating expenses to P =10,565 million, up P =762 million or 8% against a year ago. Production cost drove the increase in the pursuit of mounting valuecreating and high-caliber programs as well in delivering one of the most comprehensive 2013 election coverages via Eleksyon 2013. In the same manner, general and administrative expenses (GAEX) recorded growth, albeit at a low single-digit rate, owing mainly to the rise in facilities costs. Earnings before intere st, taxes, depreciation and amortization (EBITDA) closed at P =3,718 million, recording an improvement of P =297 million or 9% from a year ago. The rise was boosted by the improvement in this year’s top line coupled with managed growth in cash operating costs. Bottom line attributable to equity holders of the Parent Company amounted to P =1,667 million, P = 50 million or 3% higher compared to same period last year.
Income Data Revenues Television and radio airtime Production and others
Total operating expenses EBITDA Net income Attributabl e to Equity Holders of Parent Company Noncontrolling Interest
2013 2012 - as restated (in millions PhP) (in millions PhP)
11,738.6 1,212.3 12,950.9
10,859.9 1,226.0 12,085.9
10,565.3 3,718.2 1,675.0
9,803.8 3,421.2 1,620.8
1,666.9
1,616.9
8.0
3.9
Inc/(Dec) (in millions PhP)
%
878.7 (13.8) 864.9
8% -1% 7%
761.5 297.0 54.2
8% 9% 3%
50.1
3%
4.1
107%
Revenues Consolidated revenues of P =12,951 million overtook last year by 7% or P =865 million. Airtime revenues drove the growth in the top line, boosted by election-related advertisements earlier this year amounting to about P =724 million. On the other hand, revenues from other sources retracted by 1% or some P =14 million in between periods.
%$
2013 2012 - as restated Revenues
Television and radio airtime Production and others
(in millions PhP) 11,738.6 1,212.3 12,950.9
Inc/(Dec) (in millions PhP)
%
(in millions PhP) 10,859.9 1,226.0 12,085.9
878.7 (13.8) 864.9
8% -1% 7%
Airtime revenues tipped P =11,739 million recording an increase of P =878 million or 8% vs. a year ago. Discounting incremental sales from political advocacies and advertisements, the improvement in regular airtime revenue inched up by a percentage point year-on-year. Core channel, GMA 7, contributed the bulk of the Company’s total revenues recording a 7% upswing from last year. Election-related placements for the channel were at P =676 million this year vs. P =62 million last 2012 -- without which, airtime sales from recurring load inched up by a hairline. Meanwhile, Regional TV continued to pick up steam sealing the year with a top line hike of 27% versus comparative period. While local political ads pitched in incremental sales during the period, it was still the significant improvement in regular ad placements that propelled the platform’s top line gains. Partly accounting for this increase were the opening of additional originating stations in the region during middle of 2012 and first quarter of 2013. The Company also dominated viewer-rich Urban Luzon and Mega Manila in all dayparts in 2013, effectively keeping its commanding lead over rival networks, according to data from the industry’s leading ratings service provider Nielsen TV Audience Measurement. From January to December 2013, GMA recorded an average total day audience share of 36 percent in Urban Luzon, which makes up 76 percent of the total urban television households in the country, impressively ahead of ABS-CBN’s 30.8 percent by 5.2 points and of TV5’s 12.8 percent by 23.2 points. The Kapuso Network similarly kept its ratings edge in its bailiwick Mega Manila with a 37.2 percent average total day audience share. ABS-CBN trailed behind GMA by 8.4 points with 28.8 percent while TV5 was behind by 23.5 points with only 13.7 percent. Mega Manila notably accounts for 59 percent of all urban television households nationwide. GMA captured majority in the list of top-performing programs (including specials) in Mega Manila with 17 out of 30. Following closely behind the Pacquiao-Rios fight and Anna Karenina in the top 10 are KMJS, GMA Flash Report: Pangulong Aquino, Hindi Kami Nagnakaw at Hindi Kami Magnanakaw, primetime soap Mundo Mo’y Akin and weekly drama anthology Magpakailanman. GMA and TV5 subscribe to Nielsen TV Audience Measurement while ABS-CBN is the lone local major TV network that reportedly subscribes to Kantar Media, formerly known as TNS. In Mega Manila, Nielsen TV Audience Measurement gathers data based on a sample size of 1,190 homes as compared to Kantar Media's 770 homes. Meanwhile, Nielsen has a nationwide urban sample size of 2,000 homes, which is statistically higher than Kantar's sample size of 1,370. %%
The Company’s second free-to-air channel, GNTV-11, was also on a roll as it wrapped up the year with the highest top line improvement percentage-wise equivalent to 34% more than a year ago. Barely aided by political ad placements during the period, the channel’s increase was driven by the growth in recurring advertisements. Meanwhile, its Radio business likewise edged last year’s showing by pitching in revenues 11% better than 2012 contribution. Stripping election-related sales, Radio’s revenues from regular advertising load still ended higher by 3% from last year. Lastly, revenues from subsidiaries’ operations and others recorded a reduction of P =14 million or 1% by the close of the year. The Company’s international operations registered moderate top line growth by 2% both in peso and dollar terms as the average forex rate remained about the same year-on-year. While subscriber count grew by 7% in North America which accounted for a little over 90% of the total subscriber base, a decline in subscriber take up was seen in the ASPAC and MENA regions, mainly due to transitioning of cable partners in view of improved margins in the long run. On the other hand, negating the slight gains posted by this segment, alongside with modest contribution from other subsidiaries, main drag came from the drop in theatrical receipts and other revenues of GMA Films. The outfit did not have any offering to the 2013 Metro Manila Film Festival (MMFF) vs. 2012 entries Sosy Problems and co-prod Si Agimat, Si Enteng Kabisote and Me. Moreover, there was only one movie produced in 2013, My Lady Boss in contrast to four last year, via My Kontrabida Girl , The Witness, Boy Pick-up and Just One Summer .
Expenses Total operating expenses for the year amounting to P =10,565 million edged last year by 8%. Total direct costs (cash and non-cash production costs) escalated by 13% while general and administrative expenses (GAEX) stood about the same as last year. Production costs (both cash and non-cash) comprising 56% of total costs hiked 13% or P =671 million in 2013 vs. last year. Cash production cost rose by P =533 million or 12% while non-cash (amortization of film rights and depreciation related to production) climbed 19% or P =138 million. Primetime weekday programs this year were more costly, with the yet another trailblazer in Philippine television via the highly-budgeted series Indio, staged during the first half of this year. In the same manner, there were more in-house produced shows in the weekend grid replacing last year’s Kapuso Movie Nights i.e. the re-launch of the top-rating real-life drama program Magpakailanman early this year . The weekday late morning block likewise carried more stationproduced programs vice canned programs. Lastly, the comprehensive and timely delivery of the election coverage this year resulted in incremental expenses which also saddled this year’s production costs.
%&
Production Costs
Talent fees Rentals and outside services Other program expense s Sub-total - Cash Production Costs Program rights a mortization Depreciation and a mortization Sub-total - Non-cash Production Costs Total production costs
Inc/(Dec) 2013 2012 - as restated (in millions PhP) (in millions PhP) (in millions PhP) 3,102.5 819.2 1,181.8 5,103.5 565.4 287.6 852.9 5,956.4
2,809.3 690.3 1,071.0 4,570.6 460.9 253.6 714.5 5,285.1
293.3 128.9 110.8 532.9 104.4 34.0 138.4 671.2
%
10% 19% 10% 12% 23% 13% 19% 13%
Amortization of film rights likewise exhibited an increase of P =104 million or 23% compared to prior period as a result of higher charges from the inventory of films carried by the Network. Apart from this, incidental costs were further incurred for dubbing of movies in Tagalog to cater to viewer preference. Other sources of this year’s increase in direct cost came from depreciation owing to the earlier-mentioned commissioning of new studios in the regions and from major renovations/ upgrade of other broadcast facilities nationwide. General and administrative expenses (GAEX) for this year reached P =4,609 million, inching up by 2% from same period last year. Cash GAEX grew even lower by 1% partly dragged by the rise in non-cash expenses by 7%. While manning complement for the Network alone recorded an augmentation of 6%, on top of the yearly adjustment in salaries, the rise in cost was mitigated by the presence of signing bonus during last year’s collective bargaining agreement as well as higher bonuses.
General and Administrative Expenses
Personnel costs Outsid e s ervices Facilities costs Taxes and l icenses Others Subtotal - Cash GAEX Depreciation and a mortization Amortization of software cos ts Subtotal - Non-cash GAEX Total GAEX
Inc/(Dec) 2013 2012 - as restated (in millions PhP) (in millions PhP) (in millions PhP) 2,111.5 665.0 507.7 140.7 734.2 4,159.2 417.9 31.0 449.7 4,608.9
2,138.6 658.6 432.2 143.6 725.6 4,098.7 356.4 27.7 419.9 4,518.6
(27.0) 6.4 75.5 (2.9) 8.6 60.5 61.5 3.3 29.8 90.3
%
-1% 1% 17% -2% 1% 1% 17% 12% 7% 2%
Other increase in GAEX was seen mostly in facilities costs partly due to rise in contractual agreements and regular upkeep and improvements company-wide.
EBITDA %'
Earnings before intere st, taxes, depreciation and amortization (EBITDA) closed at P =3,718 million, recording 9% improvement from a year ago. The growth was boosted by the hike in this year’s top line coupled with managed growth in cash operating costs.
Net Income The improvement in EBITDA was further trimmed down by the hike in non-cash expense during the period. Thus, bottom line attributable to equity holders of the Parent Company amounting to P =1,667 million settled 3% more than same period last year. Balance Sheet Accounts Total assets as at end-2013 stood at P =13,084 million, reflecting a 3% increase from end-2012’s P =12,682 million (as restated due to consolidation of RGMA Network). Cash and cash equivalents climbed to P =1,750 million, 36% or P =462 million more than the P = 1,287 million recorded as at December 31, 2012. On the other hand, trade and other receivables sealed at P =3,521 million, 8% lower than previous year. Trade days-salesoutstanding (DSO) improved by 21 days to 92 days at end-2013 vs. 113 days at the close of 2012. Land at revalued amounts climbed by 28% or P =396 million to P =1,805 million mainly resulting from the most recent app raisal. Total liabilities dipped by 6% or P =214 million as at end-December this year to P =4,259 million from P =4,533 million in 2012 with the reduction in notes payable from P =1,700 million to P =1,107 million as the main driver. Equity of P =8,788 million grew by 8% or P =668 million in between years arising from net income earned during the ye ar and the recognition of net revaluation increment in land of P =277 million.
Cash Flows Net cash provided by operating activities Net cash us ed in investing activities Net cash us ed in financing activities Effect of exchange rate changes on cas h and cash e quivalents Net increase in cash and cash equivalents Cash and cas h equivalents at beginning of period Cash and cash equivalents at end of period
2013 2012 - as res tated (in millions PhP) (in millions PhP) 3,055.3 2,605.5 (666.1) (995.7) (1,941.7) (1,548.0) 14.8 (3.2) 462.3 58.6 1,287.3 1,228.7 1,749.6 1,287.3
Operating Activities %(
Net cash from operations registered at P =3,055 million this year. This resulted from income before income tax of P =2,387 million adjusted mainly by depreciation expense of P =705 million, program and other rights usage of P = 565 million, net movement of pension liability of P =112 million, intere st expense and financing charges of P =53 million, net unrealized foreign currency exchange of P =45 million and amortization of software costs of P = 31 million apart from the changes in working capital. The primary components of the changes in working capital include the P =333 million reduction in trade and other receivables owing to more aggressive collection efforts partly offset by the P =585 million acquisition of program and other rights. Investing Activities Net cash used in investing activities amounted to P =666 million, coming primarily from the P =673 million additions to property and equipment and P =12 million worth of software costs. These were partly offset by the P =13 million proceeds from sale of property and equipment and investment properties. Financing Activities Net cash used in financing activities amounted to P =1,942 million basically for the loan payment of P =2,500 million and cash dividend payout amounting to P =1,214 million during the year plus some P =53 million in interest expense netted by P =1,825 million remaining proceeds from shortterm loans.
KEY VARIABLE AND OTHER QUALITATIVE OR QUANTITATIVE FACTORS i.
Trends, demands, commitments, events or uncertainties that will have a material impact on the issuer’s liquidity. As of December 31, 2014, there were no known trends, demands, commitments, events or uncertainties that will have a material impact on the issuer’s liquidity.
ii.
Events that will trigger direct or contingent financial obligation that is material to the company, including any default or acceleration or a n obligation. As of December 31, 2014, there were no events which may trigger a direct or contingent financial obligation that is material to the Company.
iii.
Material off-balance-sheet transactions, arrangements, obligations (including contingent obligations), and other relations of the company with unconsolidated entities or other persons created during the reporting period. There were no material off-balance sheet transactions, arrangements, obligations (including contingent obligations), and other relations of the company with unconsolidated entities or other persons created during the reporting period. %)
iv.
Material commitments for capital expenditures, the general purpose of such commitments and the expected sources of funds for such expenditures. For 2015, the parent company has allotted P =935 million for capital expenditures. This will be financed by internally-generated funds.
v.
Any known trends, events or uncertainties that have had or that are reasonably expected to have a material favorable or unfavorable impact on net sales/revenues/income from continuing operations. GMA Network’s results of operations depend largely on the ability to sell airtime for advertising. The Company’s business may be affected by the general condition of the economy of the Philippines.
vi.
Significant elements of income or loss that did not arise from the Company’s continuing operations. As of December 31, 2014, there were no significant elements of income or loss that did arise from the issuer’s continuing operations.
vii.
Causes for Material Changes in the Financial Statements
Balance Sheet (December 31, 2014 vs. December 31, 2013) •
•
•
•
viii.
Cash and short-term investments dipped by 9% to = P1,599 million at year-end which is directly attributed to this year’s result of operation. Receivables grew by = P1,284 million or 36% as a result of higher sales than collections. Short-term loans increased by 101% as availments made are higher at = P2,185 million vs. payments of only P =1,100 million. The 78% drop in income tax payable resulted from advance payment of income tax related to pay-before-broadcast receivables as part of taxable balance in 2013.
Seasonal aspects that had a material effect on the financial condition or results of operations. There are no seasonal aspects that had a material effect on the financial condition or results of operations. %*
Interim Periods The Company currently cannot make available the financial information for the first quarter of 2015. The Company however, undertakes to submit its SEC Form 17-Q on or before May 15, 2015 and to make the same available upon request during the Company’s Annual Stockholders’ Meeting.
Item 7. Financial Statements Refer to attached copy.
Item 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
The Audit and Risk Management Committee reviews the fee arrangements with the external auditor and recommends the same to the Board of Directors. The Company’s Audit Committee was formed in 2007 and was formally organized during the latter portion of that year. The members of the Audit Committee are as follows: Dr. Jaime C. Laya (Chairman) Chief Justice Artemio V. Panganiban Anna Teresa M. Gozon-Abrogar Judith D. Vasquez Laura J. Westfall
The Audit and Risk Management Committee has recommended the appointment of Sycip Gorres Velayo and Co., as the external auditor of the Company. The Sycip Gorres Velayo & Co. has acted as the Company’s external auditors since 1994. The same accounting firm is being recommended for re-election at the scheduled annua l meeting. The Company has not had any disagreements on accounting and financial disclosures with its current external auditors during the two most recent fiscal years or any subsequent interim period. Sycip Gorres Velayo & Co. has no shareholdings in the Company nor any right, whether legally enforceable or not, to nominate persons or to subscribe for the securities in the Company. The foregoing is in accordance with the Code of Ethics for Professional Accountants in the Philippines set by the Board of Accountancy and approved by the Professional Regulation Commission.
&+
AUDIT AND AUDITED RELATED FEES The aggregate fees billed for each of the last two years for professional services rendered by Sycip Gorres Velayo and Co., amounted to P6.0 million both in 2013 and 2012 (these included the fees related to financial audit and services for general tax compliance). TAX FEES There was no specific specific engagement availed by the Company for purely tax accounting. accounting. total fees of P6.0 million already included basic tax review.
The
ALL OTHER OTH ER FEES Other than the foregoing services, no other product or service was provided by the external auditor to the Company.
PART III - CONTROL AND COMPENSATION INFORMATION
Item 9. Directors and Executive Officers of the Issuer Board of Directors, Officers and Senior Management Under the Articles of Incorporation of the Company, the Board of Directors of the Company comprises nine directors, two of whom are independent. The Board is responsible for the overall management and direction of the Company and meets regularly every quarter and other times as necessary, to be provided with updates on the business of the Company and consulted on the Company’s material decisions. The directors have a term of one year and are elected annually at the Company’s stockholders meeting. A director who was elected to fill a vacancy holds the office only for the unexpired term of his predecessor. As of March 31, 2015, the Company’s Board of Directors and Senior Management are composed of the following:
Board of Directors Directors and Senior Management
Nationality
Felipe L. Gozon Michael Duavit
John
R.
Gilberto R. Duavit, Jr.
Position
Senior Management Year Position was Assumed
Position
Filipino
Chairman/ Director
1975
Chief Officer
Executive
Filipino
Director
2015
N/A
Filipino
Director
1999
President/Chief Operating Officer
Year Position Age was Assumed 2000
75
N/A
45
2010
51 &!
Anna Teresa M. Gozon-Abrogar
Filipino
Director/ Assistant Assistan t Corporate Secretary
Joel Marcelo Jimenez
Filipino
Director
2002
N/A
N/A
51
Filipino
Director
2002
N/A
N/A
47
Felipe S. Yalong
Filipino
Director/ Corporate Treasurer
2002
Executive President
2011
58
Roberto O. Parel
Filipino
Corporate Secretary
1993
N/A
N/A
59
2004
51
2013
49
2013
50
G.
Laura J. Westfall
2000
N/A
N/A
43
Vice
Senior Vice President, News and Public Affairs Senior Vice President for Finance and ICT Senior Vice President for Entertainment TV
Marissa L. Flores
Filipino
N/A
N/A
Ronnie P. Mastrili
Filipino
N/A
N/A
Lilybeth Rasonable
G.
Filipino
N/A
N/A
Artemio Panganiban
V.
Filipino
Independent Director
2007
N/A
2007
78
Filipino
Independent Director
2007
N/A
2007
76
Senior Vice President and Head, Engineering Group; Head, Transmission and Regional Engineering Department
2014
48
Jaime C. Laya
Elvis B. Ancheta
Filipino
N/A
N/A
The following are descriptions of the business experiences of the Company’s directors, officers and senior management:
Felipe L. Gozon, Filipino, 75 years old, is the Chairman of the Board of Directors and Chief Executive Officer of the Network. &#
Atty Gozon is a Senior Partner at the Law Firm of Belo Gozon Elma Parel Asuncion Asuncio n & Lucila. Aside from GMA Network, Inc., he is also Chairman and CEO of GMA Marketing and Productions, Inc. and GMA New Media, Inc.; Chairman and President of FLG Management and Development Corp., and Mont-Aire Realty and Development Corp.; Chairman of Alta Productions Group, Inc., Citynet Network Marketing and Productions, Inc., Philippine Entertainment Portal, Inc., Justitia Realty and Management Corp., Palawan Power Generation, Inc., Catanduanes Power Generation, Inc., Sycamore Global Shipping Corporation, Sycamore International Shipping Corporation, Cardinal Agri Products, Inc.,and RGMA Network, Inc.; Vice Chairman of Malayan Savings and Mortgage Bank; President of, among other companies, Gozon Development Corp., Gozon Realty Corp., Antipolo Agri-Business and Land Development Corp., Capitalex Holdings, Inc., BGE Holdings, Inc., Philippine Chamber of Commerce and Industry, Chamber of Commerce Commerce of the Philippine Islands Islands and President of Lex Realty, Inc. Inc. He serves as Chairman of the Board of Trustees of GMA Kapuso Foundation, Inc., Kapwa Ko Mahal Ko Foundation, Inc., and The Potter and Clay Christian School Foundation, Inc.; Chairman and President of Gozon Foundation; and Trustee of Bantayog ng mga Bayani Foundation. Gozon is also an Advisory Board Member of the Asian Television Awards. Atty. Gozon is a recipient of several awards for his achievement achieve ment in law, media, public service, and business, including the prestigious Chief Justice Special Award given by the Chief Justice of the Philippines (1991), Presidential Award of Merit given by the Philippine Bar Association (1990 & 1993), CEO of the Year given by Uno Magazine (2004), Master Entrepreneur – Philippines (2004) by Ernst and Young, Outstanding Citizen of Malabon Award for Legal and Business Management by the Kalipunan ng S amahan sa Malabon (KASAMA) (2005), People of the Year by People Asia Magazine (2005), Outstanding Manilan Award in the field of Social Responsibility and Broadcasting given by the City Government of Manila (2011), Quezon City Gawad Parangal Most Outstanding Citizen for 2011 given by the City Government of Quezon (2011), Tycoon of the Decade Award given by BizNews Asia (2011), Lifetime Achievement Award given by the UP Alumni Association Associatio n (2012), Certificate of Recognition Recognit ion given by the Civil Aeronautics Aeronau tics Board (2012), Personality Persona lity of the Year for Broadcast Broadca st Media given by SKAL International Makati (2013), Outstanding Member-Achiever given by Phi Kappa Phi UP Chapter (International Honor Society) (2013), Visionary Management CEO Award given by BizNews Asia (2013), Lifetime Achievement Achievem ent Award given by UP Preparatory Prepara tory High School Alumni (2014), Entrepreneurship Excellence Award and Best Broadcast CEO Award given by BizNews Asia (2014), The Rotary Golden Wheel Award for Corporate Media Management given by Rotary International District 3780 and Quezon City Government (2014), and Global Leadership Award for Excellence in Media Sector (first Filipino to win the award) given by The Leaders International together with the American Leadership Development Association in Kuala Lumpur, Malaysia (2015). He is also listed among Biz News Asia’s Power 100 (2003 to 2010). Atty. Gozon earned his Bachelor Bachelo r of o f Laws degree from the University of the Philippines Philippin es (among the first 10 of his class) and his Master of Laws degree from Yale University Law School. He was admitted to the Bar in 1962, placing 13th in the Bar examinations. &$
Gilberto R. Duavit, Jr ., Filipino, 51 years old, is the President and Chief Operating Officer of the Network. He has been a Director of the Company since 1999 and is currently the Chairman of the Network’s Executive Committee. Aside from GMA Network, Inc., he is the Chairman of the Board of GMA Network Films, Inc. and GMA Worldwide, Inc. and Vice Chairman of the Board of GMA Marketing and Productions, Inc. He also serves as President and CEO of GMA Holdings, Inc., Scenarios, Inc., RGMA Marketing and Productions, Inc., Film Experts, Inc., and Dual Management and Investments, Inc. He is the President and a Director of Group Management and Development, Inc.; President and Director of MediaMerge Corp., Citynet Network Marketing and Productions, Inc.; Director of RGMA Network, Inc., GMA New Media, Inc., Alta Productions Group, Inc., Optima Digital, Inc., and Mont-Aire Realty and Development Corp. He also serves as the President and a Trustee of GMA Kapuso Foundation, Inc., Trustee of Guronasyon Foundation, Inc. (formerly LEAF) and is a Trustee of the HERO Foundation.
Mr. Duavit holds a Bachelor’s Degree in Philosophy from the University of the Philippines.
Joel Marcelo G. Jimenez, Filipino, 51 years old, has been a Director of the Company since 2002. He is currently the President and CEO of Menarco Holdings and the Chief Executive Officer of Alta Productions, Inc. He is a Director of RGMA Network, Inc., GMA New Media, Inc., Scenarios, Inc., and GMA Worldwide, Inc., besides also being a member of the Board of Directors of Malayan Savings and Mortgage Bank, and Unicapital Securities, Inc. He is also a Director of Nuvoland Philippines, a real-estate development company. He is a Trustee of GMA Kapuso Foundation, Inc.
He was educated in Los Angeles, California where he obtained a Bachelor’s Degree in Business Administration from Loyola Marymount University. He also obtained a Master’s Degree in Management from the Asian Institute of Management.
Felipe S. Yalong, Filipino, 58 years old, is the Executive Vice President and Chief Financial Officer of GMA Network, Inc. He is also the Head of the Corporate Services Group of the Network. He has been a Director of the Company since 2002. Aside from GMA Network, Inc., he also serves as Director and Corporate Treasurer of GMA Holdings, Inc., Scenarios, Inc., and GMA Network Films, Inc.; Director of Unicapital, Inc., Majalco Finance and Investments, Inc., and GMA Marketing and Productions, Inc.; Corporate Treasurer of RGMA Network, Inc.,
&%
MediaMerge Corp.; Executive Vice President of RGMA Marketing and Productions, Inc.; and Corporate Treasurer of the Board of Trustees of GMA Kapuso Foundation, Inc.
Yalong was named CFO of the Year by ING FINEX in 2013. He obtained a Bachelor of Science degree in Business Administration Major in Accounting from the Philippine School of Business Administration and completed the Management Development Program at the Asian Institute of Management. He is a Certified Public Accountant.
Atty. Anna Teresa G. Abrogar, Filipino, 43 years old, has been a Director of the Company since 2000. Atty. Anna Teresa G. Abrogar graduated valedictorian from grade school and high school at Colegio San Agustin. She graduated cum laude, BS Management Engineering from Ateneo de Manila University and obtained her Bachelor of Laws degree from the University of the Philippines where she graduated valedictorian, cum laude. She later obtained her Master of Laws from Harvard University.
She is a junior partner in Belo Gozon Elma Parel Asuncion & Lucila and was an Associate Professor in the University of the Philippines, College of Law where she taught taxation.
She is currently Programming Consultant to the Chairman/CEO of GMA Network, Inc. and the President of GMA Films, Inc. and GMA Worldwide, Inc. She is a trustee of GMA Kapuso Foundation.
Michael John R. Duavit, Filipino, 45 years old, was elected to the Company’s Board of Directors in 2015. He is currently the Chairman, President and CEO of MRD Holdings & Investments, Inc. and the Chairman and Managing Director of Puresound Trading, Inc. He is a Director of Citynet Television, Inc. and GMA New Media, Inc., a subsidiary of GMA Network that specializes in interactive applications for television, mobile, web and marketing.
Mr. Duavit is the President and Trustee of Guronasyon Foundation, Inc., which recognizes outstanding teachers in the province of Rizal and the City of Antipolo, and is also a Trustee of GMA Network’s socio-civic arm GMA Kapuso Foundation, Inc.
Mr. Duavit held a notable career in public service, having been elected as Representative of the &&
First District of Rizal and serving a full term from 2001 to 2010. During his tenure in Congress, he served as Vice-Chairman of the House Committee on Economic Affairs, the House Committee on Appropriations, and the House Committee on Trade and Industry.
Mr. Duavit earned his bachelor’s degree from the De La Salle University-Manila, majoring in Marketing Management. He holds a graduate degree in Recording Arts Engineering from the Full Sail Center for Recording Arts in Orlando, Florida, and attended a Management of Information Technology Program in Sweden.
Laura J. Westfall, Filipino, 47 years old, has been a Director of the Company since 2000. She held the following positions in the Company — Senior Vice President of Corporate and Strategic Planning and Senior Vice President for Finance. In addition, she has served as Chairperson and President of GMA New Media. Prior to joining the Company, she worked for BDO Seidman – Los Angeles, an international audit and management consulting firm. She currently holds various positions in the Majent Group of Companies and serves as Board Member of Coffee Bean and Tea Leaf Philippines, Bronzeoak Clean Energy, Inc., and Museo Pambata.
She holds a Masters Degree in Public and Private Management from Yale University and a Bachelor of Science degree in Accounting from the University of Southern California. She is a Certified Public Accountant (CPA) in the State of California.
Chief Justice Artemio V. Panganiban, Filipino, 78 years old, has been an Independent Director of the Company since 2007. In 1995, he was named a Justice of the Supreme Court and in 2005, he was appointed Chief Justice of the Philippines — a position he held until December 2006. At present, he is also an Independent Director of these listed firms: First Philippine Holdings Corp., Metro Pacific Investments Corp., Manila Electric Company, Robinsons Land Corp., GMA Holdings, Inc., Philippine Long Distance Telephone Co., Petron Corporation, Bank of the Philippine Islands, Asian Terminals, and a regular Director of Jollibee Foods Corporation. He is also a Senior Adviser of Metropolitan Bank, Chairman, Board of Advisers of Metrobank Foundation, Adviser of Double Dragon Properties, Chairman of the Board of the Foundation for Liberty and Prosperity, President of the Manila Cathedral Basilica Foundation, Chairman Emeritus of Philippine Dispute Resolution Center, Inc., and Member, Advisory Board of the World Bank (Philippines) and of the Asian Institute of Management Corporate Governance Council. He also is a column writer of The Philippine Daily Inquirer.
Upon his retirement, he was unanimously conferred a Plaque of Acclamation by the Associate &'
Justices of the Supreme Court as the “Renaissance Jurist of the 21st Century;” and an Award of Honor by the Philippine Bar Association. In recognition of his role as a jurist, lawyer, civic leader, Catholic lay worker, business entrepreneur and youth leader, he had been the recipient of over 250 other awards from various governments, civic clubs, consumer associations, bar groups, religious movements and other non-government organizations, both local and international.
He obtained his Associate in Arts, “With Highest Honors” and later his Bachelor of Laws, with cum laude and “Most Outstanding Student” honors from the Far Eastern University. He placed sixth among more than 4,200 candidates who took the 1960 Bar examinations. He is likewise the recipient of several honorary doctoral degrees from various universities.
Dr. Jaime C. Laya, Filipino, 76 years old, has been an independent Director of GMA Network, Inc. since 2007. He is the Chairman and President of Philippine Trust Company (Philtrust Bank), Director of Ayala Land, Inc., Manila Water Company, Inc., and Philippine AXA Life Insurance Company, Inc. He also serves as Chairman of Don Norberto Ty Foundation, Inc. and Escuela Taller de Filipinas Foundation, Inc.; Trustee of St. Paul University - Quezon City, Cultural Center of the Philippines, Metropolitan Museum of Manila, Yuchengco Museum, Fundación Santiago, Inc., Ayala Foundation, Inc., and other foundations. He writes a weekly column for the Manila Bulletin.
He was Minister of Budget, 1975-1981; Minister of Education, Culture and Sports, 1984-86; Chairman of the Monetary Board and Governor, Central Bank of the Philippines, 1981-1984; Chairman, National Commission for Culture and the Arts, 1996-2001. He was faculty member of the University of the Philippines, 1957-1978 and Dean of the College of Business Administration, 1969-1974. In 1986, he founded J.C. Laya & Co., Ltd. (Certified Public Accountants and Management Consultants) later the Philippine member firm of KPMG International; he served as the firm's Chairman until his retirement in 2004. He earned his BSBA, magna cum laude, University of the Philippines, 1957; M.S. in Industrial Management, Georgia Institute of Technology, 1960; Ph.D. in Financial Management, Stanford University, 1966. He is a Certified Public Accountant.
Atty. Roberto O. Parel, Filipino, 59 years old, has been the Corporate Secretary of the Company since 1993. He is a Partner at the Law Firm of Belo Gozon Elma Parel Asuncion & Lucila. His practice areas include labor relations, natural resources and intellectual property. He is a Director of Time-Life International Philippines, Berong Nickel Corporation, Ulugan Nickel Corporation, Ulugan Resources Holdings, Inc., Nickeline Resources Holdings, Inc., TMM &(
Management Inc. and Assetlex Development Company, Inc.; Corporate Secretary of Alta Productions Group, Inc., Scenarios, Inc., Citynet Network Marketing and Productions, Inc. and GMA Kapuso Foundation, Inc.
He graduated from the University of the Philippines with a Bachelor of Arts degree in Philosophy and a Bachelor of Laws degree. He was admitted to the Philippine Bar in 1981. Atty. Parel further pursued legal studies through short programs at the Center of American and International Law and the Southwestern Legal Foundation in Dallas, Texas. Later, he attended a training program on Industrial Property Rights held by the Japan Institute of Invention and Innovation and the Association for Overseas Technical Scholarship in Tokyo, Japan.
Marissa L. Flores, Filipino, 51 years old, is the Senior Vice President for News and Public Affairs, a position she has held since 2004. She joined the Company in 1987 as a researcher for public affairs documentaries and special reports and held the positions of Assistant Vice President for Public Affairs, Vice President for Production – News and Public Affairs before her appointment to her current position.
The Rotary Club of Manila recognized her as Television News Producer of the Year in 1996. In 2004, she was awarded the prestigious TOYM (The Outstanding Young Men) for Broadcast Management. In 2012, she received the CEO Excel Award from the International Association of Business Communicators (IABC) Philippines.
The News and Public Affairs group under Ms. Flores continues to be the recipient of international awards, notably the New York Festivals, US International Film and Video Festival Awards, Asian TV Awards. GMA News and Public Affairs remains as the only Philippine broadcast network which has won the highly-coveted Peabody Award (four Peabody awards as of 2014) — widely considered as broadcasting and cable’s equivalent of the Pulitzer prize.
Besides overseeing news and public affairs programs in GMA Channel 7, it is also under Ms. Flores’ leadership that GMA News Online was put up in 2007, and GMA News TV (GMA Network’s news and public affairs channel on free TV) was launched in February 2011.
She earned her Bachelor’s degree at the University of the Philippines, where she studied Journalism.
&)
Ronaldo P. Mastrili, Filipino, 49 years old, is the Senior Vice President of GMA’s Finance and ICT Departments. He obtained his Bachelor of Science in Business and Economics degree, major in Accounting from De La Salle University. He attended the Master in Business Administration Program from the same university and completed the Executive Development Program of the Asian Institute of Management. He is a Certified Public Accountant with expertise in the fields of accounting, auditing, finance, taxation and general management. He was formerly the Assistant Vice President of Controllership of ABS-CBN and also served as its Group Internal Auditor before joining GMA Network in March 2001. He also worked with SGV and Co. in the early part of his career. Mr. Mastrili concurrently holds key positions in GMA Subsidiaries namely: Comptroller/Chief Accounting Officer of GMA Holdings, Treasurer of Alta Productions, Director of Script2010, and Comptroller of GMA Films, GMA Kapuso Foundation and GMA Worldwide.
Lilybeth G. Rasonable, Filipino, 51 years old, is the Senior Vice President of the Entertainment TV Group of GMA Network, Inc. She is mainly responsible for the production of all entertainment programs of the Network.
After earning her degree in Broadcast Communication from the University of the Philippines, Ms. Rasonable immediately worked in the broadcasting industry, starting out as a Production Assistant and later on, an Associate Producer of the Intercontinental Broadcasting Company. She likewise worked as Production Coordinator and Executive producer of GMA Network, Inc.
Ms. Rasonable’s work experience also included a post as Technical Consultant for Local Production with the Associated Broadcasting Company (ABC-5) and freelance Executive Producer for film and television. After a few years, she rejoined GMA as a Production Manager under its Sales and Marketing Group.
From Program Manager, Ms. Rasonable was promoted to Assistant Vice President for Drama in 2004. As AVP, she was a key figure in the creation of groundbreaking and phenomenal hits such as Mulawin, Encantadia and Darna, which made the primetime block of GMA invincible and contributed to the unprecedented success of GMA in its quest for leadership in the Philippine broadcasting industry. It was also during her time as AVP for Drama when GMA produced programs that created superstars for the Network and afternoon dramas dramatically rose and established strong presence in their timeslots with breakthrough innovations. &*
In 2010, Ms. Rasonable was promoted to the position of Vice President, Drama Productions and tasked with the supervision of non-primetime and primetime drama programs of GMA. By February 2012, she took the helm as Officer-in-Charge of the Entertainment TV (ETV) Group. And in December 2013, she received her promotion and appointment as ETV’s Senior Vice President.
Engr. Elvis B. Ancheta, Filipino, 48 years old, is GMA Network’s Senior Vice President and Head of Engineering Group. He is concurrently the Head of Transmission and Regional Engineering Department of the Network.
Engr. Ancheta is a member of the Society of Broadcast Engineers and Technicians of the Philippines and the Institute of Electronics and Communications Engineers of the Philippines, Inc. He was also GMA’s principal representative to the Technical Working Group chaired by the National Telecommunications Commission for the drafting of the Digital Terrestrial Television Broadcasting - Implementing Rules and Regulations.
Engr. Ancheta earned his Bachelor of Science in Electronics and Communications Engineering degree from Saint Louis University in Baguio City.
Significant Employees Although the Company and its key subsidiaries have relied on, and will continue to rely on, the individual and collective contributions of their executive officers and senior operational personnel, the Company and its key subsidiaries are not dependent on the services of any particular employee.
Family Relationships Michael John R. Duavit is the brother of Gilberto R. Duavit, Jr., and Joel Marcelo G. Jimenez and Laura J. Westfall are siblings. Anna Teresa M. Gozon-Abrogar is the daughter of Felipe L. Gozon. Felipe L. Gozon’s sister, Carolina L. Gozon-Jimenez, is the mother of Joel Marcelo G. Jimenez and Laura J. Westfall.
Involvement in Certain Legal Proceedings
'+
To the best of the Company’s knowledge, during the past five years and up to date, there had been no occurrence of any of the following events which are material to an evaluation of the ability or integrity of any director, person nominated to become a director, executive officer, or control person of the Company: •
•
•
Any filing of an insolvency or bankruptcy petition by or against any business of which such person was a general partner or executive officer, either at the time of the insolvency or within two years prior to that time; Any conviction by final judgment in a criminal proceeding, domestic or foreign, or any pending criminal proceeding, domestic or foreign, of any such person, excluding traffic violations and other minor offenses; Any final and executory order, judgment, or decree of any court of competent jurisdiction, domestic or foreign, against any such person, permanently or temporarily enjoining, barring, suspending, or otherwise limiting involvement in any type of business, securities, commodities, or banking activities; and,
Any final and executory judgment of any such person by a domestic or foreign court of competent jurisdiction (in a civil action), the SEC, or comparable foreign body, or a domestic or foreign exchange or electronic marketplace or self-regulatory organization, for violation of a securities or commodities law. Resignation of Directors •
No director has resigned or declined to stand for re-election to the Board of Directors since the date of the last annual meeting of the Company because of a disagreement with the Company on matters relating to the Company’s operations, policies and practices.
Item 10. Executive Compensation (a) CEO and Top 5 Compensated Executive Officers: The following are the Company’s highest compensated executive officers:
Name and Position Felipe L. Gozon
Chairman and CEO
Gilberto R. Duavit, Jr.
President and COO
Felipe S. Yalong
Senior Vice President, Corporate Services Group
Marissa L. Flores
Senior Vice President, News and Public Affairs
Jessica A. Soho
First Vice President, News Programs
Year
Annual salaries
13th Month & Bonuses
(in Thousands)
(in Thousands)
Total (in Thousands)
'!
5 Highest Officers
Compensated
Aggregate compensation paid to all officers and directors as a group
2012
75,335.3
57,615.6
132,951.0
2013
91,658.4
52,829.9
144,488.3
2014
101,691.8
40,024.6
141,716.4
2015 (estimate)
105,759.5
41,625.6
147,385.1
2012
122,618.2
94,243.7
216,862.0
2013
143,999.7
89,917.5
233,917.2
2014
149,809.5
49,676.9
199,486.4
2015 (estimate)
155,801.9
51,663.9
207,465.8
(a) Directors and other Executive Officers
Section 8 of Article IV of the Company’s By-Laws provides that as compensation of the directors, the Members of the Board shall receive and allocate yearly an amount of not more than two and a half percent (2.5%) of the net income after income tax of the corporation during the preceding year. Of the said 2.5%, one percent (1%) shall be allocated to the members of the Board of Directors to be distributed share and share alike. The remaining one and a half percent (1.5%) shall be allocated to the members of the Executive Committee to be distributed share and share alike. Employee Stock Ownership Plan (“ESOP”) The Company has no outstanding options or warrants held by its CEO, the named executive officers, and all officers and directors as a group.
Item 11. Security Ownership of Certain Beneficial Owners and Management The security ownership of certain record and beneficial owners of more than 5% as of March 31, 2015 are as follows:
'#
Title
Name and Address of
Of class
Beneficial Owner
Record /
No. of shares
Percent
Beneficial
held
Owned
Citizenship
Common
GMA Holdings, Inc.
&
Unit 5D Tower One, One McKinley Place, Bonifacio Global City Common
Group Management & Development Inc.
6
No. 5 Wilson St., San Juan, Metro Manila
Common
Common
FLG Management & Development 7 Corporation th Unit 2, 2/F, Building 2, 9 Avenue, Bonifacio Global City, Taguig, Metro Manila
Filipino
Filipino
M.A. Jimenez Enterprises, Inc. 2/F Sagittarius Condominium, H. V. De la 8 Costa St., Salcedo Village, Makati City
Common
Filipino
Filipino
Television International Corporation 2/F Sagittarius Condominium, H. V. De la Costa St., Salcedo Village, Makati City
Filipino
PCD Nominee 846,880,000 Corporation The Record Owner is the Beneficial Owner
The Record Owner is the Beneficial Owner The Record Owner is the Beneficial Owner
The Record Owner is the Beneficial
789,813,389
25.17%
23.47%
673,429,127
20.01%
453,882,095
13.49%
334,378,037
9.94%
5
The Board of Directors of GMA Holdings, Inc. has the power to decide how the shares owned in the Company are to be voted and has authorized Felipe L. Gozon and/or Gilberto R. Duavit, Jr. to vote on the company’s shares in GMA Network, Inc.
6
The Board of Directors of Group Management & Development, Inc. has authorized Gilberto R. Duavit, Jr. to vote on the common and preferred shares of the company in GMA Network, Inc.
7
The Board of Directors of FLG Management & Development Corporation has authorized Felipe L. Gozon to vote on the common and preferred shares of the company in GMA Network, Inc.
8
The Board of Directors of M.A. Jimenez Enterprises, Inc. has authorized Joel Marcelo G. Jimenez and/or Laura J. Westfall to vote on the common and preferred shares of the company in GMA Network, Inc.
9
The Board of Directors of Television International Corporation has authorized Joel Marcelo G. Jimenez and/or Laura J. Westfall to vote on the common and preferred shares of the company in GMA Network, Inc.
'$
Owner
Total Common Shares 3,097,382,648 92.08% Preferred
Group Management & Development Inc. No. 5 Wilson St., San Juan, Metro Manila
Preferred
Preferred
FLG Management & Development Corporation th Unit 2, 2/F, Building 2, 9 Avenue, Bonifacio Global City, Taguig, Metro Manila
Filipino
M.A. Jimenez Enterprises, Inc. 2/F Sagittarius Condominium, H. V. De la Costa St., Salcedo Village, Makati City
Preferred
Filipino
Filipino
Television International Corporation 2/F Sagittarius Condominium, H. V. De la Costa St., Salcedo Village, Makati City
Filipino
The Record Owner is the Beneficial Owner
The Record Owner is the Beneficial Owner
The Record Owner is the Beneficial Owner
The Record Owner is the Beneficial Owner
2,625,805,308
35.01%
2,181,898,644
29.09%
1,508,978,826
20.12%
1,111,661,610
14.82%
Total Preferred Shares 7,428,344,388 99.04%
GMA Holdings, Inc. is 99% owned by Gilberto R. Duavit, Jr., Felipe L. Gozon and Joel Marcelo G. Jimenez. The shares of the Company owned by GMA Holdings, Inc. are covered by Philippine Deposit Receipts (“PDR”) which give the holder the right to delivery or sale of the underlying share. The PDRs are listed with the Philippine Stock Exchange. Group Management and Development, Inc., FLG Management and Development Corporation, M.A. Jimenez Enterprises, Inc. and Television International Corporation are significant shareholders of the Company. Security Ownership of Management as of March 31, 2015 '%
Stockholder Name
Position
Citizenship
Record / Beneficial (R/B)
Anna-Teresa Gozon-Abrogar
Percent of Common Shares
No. of Preferred Shares Held
Percent of Preferred Shares
Director/Assistant Corporate Secretary
Filipino
R/B
529,003
0.02%
6
0.00%
Gilberto R. Duavit Jr.
Director/Pres. COO
Filipino
R/B
4,007,000
0.12%
12
0.00%
Felipe L. Gozon
Director/Chairman and CEO
Filipino
R/B
3,181
0.00%
26,880
0.00%
Director
Filipino
R/B
325,003
0.01%
6
0.00%
Michael John R. Duavit
Director
Filipino
R/B
1
0.00%
0
0.00%
Laura J. Westfall
Director
Filipino
R/B
2
0.00%
6
0.00%
Felipe S. Yalong
Director/Executive Vice-President
Filipino
R/B
1,025,002
0.03%
6
0.00%
Jaime C. Laya
Independent Director
Filipino
R/B
294,000
0.0087%
0
0.00%
Artemio V. Panganiban
Independent Director
Filipino
R/B
1
0.00%
0
0.00%
Senior Vice President – News and Public Affairs
Filipino
0
0.00%
0
0.00%
onaldo P. Mastrili
Senior Vice President – Finance and ICT
Filipino
R/B
182,000
0.0054%
0
0.00%
Lilybeth G. Rasonable
Senior Vice President – Entertainment TV
Filipino
R/B
0
0.00%
0
0.00%
0
0.00%
0
0.00%
Joel Marcelo Jimenez
M.
No. of Common Shares Held
G.
Marissa L. Flores
Elvis B. Ancheta
and
Senior Vice President and Head, Engineering Group; Head, Transmission and Regional Engineering
Filipino
'&
Department
As of March 31, 2015, the Company’s directors and senior officers owned an aggregate of 6,365,193 common shares of the Company, equivalent to 0.1892% of the Company’s issued and outstanding common capital stock and 27,294 preferred shares equivalent to 0.00% of the Company’s issued and outstanding preferred capital stock.
Voting Trust Holders of 5% or more The Company is unaware of any persons holding more than 5% of shares under a voting trust or similar agreement.
Changes in Control There are no existing provisions in the Articles of Incorporation or the By-Laws of the Company which will delay, defer or in any manner prevent a change in control of the Company. There have been no arrangements which have resulted in a change in control of the Company during th period covered by this report.
Item 12. Certain Relationships and Related Transactions
Advances to Affiliates The Company has, from time to time, made advances to certain of its affiliates. The advances are non-interest bearing. The Company made advances to Mont-Aire in the amount of P121.4 million as of December 31, 2004. Of such advances, the Company converted the amount of P38.3 million into P38.3 million worth of common shares of Mont-Aire. Simultaneously, the other shareholders of Mont-Aire, namely, Group Management and Development, Inc., Television International Corporation and FLG Management and Development Corporation converted advances in the aggregate amount of P23.5 million made by them to Mont-Aire into P23.5 million worth of common shares of Mont Aire. The SEC approved the conversion of the advances into equity on February 17, 2006. The Company owns 49% of Mont-Aire, with the remaining 51% being owned by the Duavit family, Gozon family and Jimenez family. Mont-Aire is a real estate holding company whose principal property is a 5.3 hectare property located in Tagaytay, Cavite. Such property is not used in the broadcasting business of the Company. As of December 31, 2014 and 2013, Mont-Aire has had advances owing to the Company in the amount of P87.6 million and P84.5 million, respectively. Please see Note 20 of the Company’s financial statements. ''
Agreements with RGMA Network, Inc. (“RGMA”) The Company has an existing agreement with RGMA for the latter to provide general management, programming and research, events management, on-air monitoring of commercial placements, certificates of performance, billing and collection functions, and local sales service for the 25 radio stations of the Company. RGMA is paid management and marketing fees based on billed sales. Please see Note 20 of the Company’s financial statements.
Agreements with GMA Marketing and Productions, Inc. (“GMA Marketing”) The Company entered into a marketing agreement with its wholly-owned subsidiary, GMA Marketing wherein GMA Marketing agreed to sell television advertising spots and airtime in exchange for which GMA Marketing will be entitled to a marketing fee and commission. Apart from this, the Company likewise engaged the services of GMA Marketing to handle and mount promotional events as well as to manage the encoding, scheduling of telecast/broadcast placements and subsequent monitoring of sales implementations for which GMA Marketing is paid a fixed monthly service fee. Please see Note 20 of the Company’s financial statements.
Belo Gozon Elma Parel Asuncion & Lucila Law Office The Company and the law firm of Belo Gozon Elma Parel Asuncion & Lucila entered into a retainer agreement in 1993 under which Belo Gozon Elma Parel Asuncion & Lucila was engaged by the Company as its external counsel. As such external counsel, Belo Gozon Elma Parel Asuncion & Lucila handles all cases and legal matters referred to it by the Company. Other than Felipe L. Gozon, who is part of the Gozon Family, one of the principal shareholders of the Company, and director of the Company since 1975, some of the lawyers of Belo Gozon Elma Parel Asuncion & Lucila eventually assumed certain positions and functions in the Company either in their individual capacities or as part of the functions of Belo Gozon Elma Parel Asuncion & Lucila as the Company’s external counsel. Please see Note 20 of the Company’s financial statements.
PART V - EXHIBITS AND SCHEDULES
Item 14. Exhibits and Reports on SEC Form 17-C '(
(a) Exhibits Exhibit 1 - Financial Statements (b) Reports on SEC Form 17-C
Clarification on Inquirer news article, “Third Time Lucky?”
January 6, 2014
Results of BOD meeting: ASM date and record date
January 23, 2014
Clarification on Inquirer news article, “SMC chief eyes 30% stake in GMA7”
January 24, 2014
Clarification on Phil. Star article, “GMA7 owners expect P10.8-B bonanza from ‘kapuso’ Ramon Ang”
March 21, 2014
Approval of FS for the year 2013
April 2, 2014
Declaration of cash dividends, record date and payment date
Presentation materials used during the Q1 financial briefing
May 5, 2014
Press Release – “GMA Network reports P2851 billion recurring revenues for Q1 2014”; additional disclosures made during the financial briefing Amendments of Articles of Incorporation (compliance to SEC MC No. 6)
May 15, 2014
Results of Annual Stockholders’ Meeting
May 21, 2014
Results of Organizational Meeting of the Board Clarification on news article, “GMA-Ang acquisition talks set to conclude in June”
May 22, 2014
Statement from the Company’s major Shareholders – agreement to sell to Mr.
June 24, 2014
')
Ramon S. Ang Clarification on news article, “SMC’s Ang acquires 30% of GMA7”
June 25, 2014
Conclusion of CBA
July 24, 2014
Presentation materials used during the Q2 financial briefing
August 14, 2014
Press Release – “GMA Network records P5.766 billion recurring revenues in H1 2014”; additional disclosures made during the financial briefing Clarification on news article, “Ang’s entry into GMA7 imminent”
September 18, 2014
Promotion of Elvis B. Ancheta as SVP – Engineering Group
October 23, 2014
Presentation materials used during the Q3 financial briefing
November 14, 2014
Press Release – “GMA Network posts 66 percent increase in Q3 2014 net income”; additional disclosures made during the financial briefing
'*
!"#$% '($$) !"# $%&'()& +',$,-'$. /($()0),(/ !"# %&'()*+,*(-. /012&+
! " # $
#-13,.4 /,1& % & '
) * + , - . / 0
1 ) 2
3
' ) 4
5 6 7 5
1 4 1 '
. 1 * 5
5+(.6(3,7 899(6& :/-;-?.<5+-@(.6&A % & ' C 8
) 8 D ;
9 : ;
< > 8
<
< =
2 8 > 9
* 4 5 ' 0
8 <
0
E C 8
+ ? @ ; A F ; >
2 ?
' B 9
8 >
G
B-+1 >43&
C&3,+*1&.* +&D0(+(.' *E& +&3-+*
!&6-.F,+4 G(6&.)& >43&H I9 J337(6,27&
' ' H 5
I
);9 'JJK?DLMK8
!"#$%&' )&*"+#%,)"& #-13,.4K) "1,(7 JFF+&))
#-13,.4K) >&7&3E-.& /012&+<)
L-2(7& /012&+
NO"PQQQQ
I
/-; -9 !*-6ME-7F&+)
J..0,7 L&&*(.' L-.*E
B()6,7 N&,+ L-.*E
#0QR#
!S"#
#"S$#
!"&,%!, $-+."& )&*"+#%,)"& >E& F&)('.,*&F 6-.*,6* 3&+)-. !"#$ 2& ,. 899(6&+ -9 *E& #-+3-+,*(-. /,1& -9 #-.*,6* 5&+)-.
"1,(7 JFF+&))
>&7&3E-.& /012&+<)
H8K?J8 53 TLK;>A
H5TUA@L>89:;<=3D;@
N"OP!#$$
L-2(7& /012&+
I
-"12342 56#7"187 $99#677
%&' )89:;<= 28>98<0 +?@;A 'B8>C8 D;<>8< *45'0 EC8F;> 2?9G &/01O
I. 6,)& -9 F&,*EH +&)('.,*(-. -+ 6&)),*(-. -9 -99(6& -9 *E& -99(6&+ F&)('.,*&F ,) 6-.*,6* 3&+)-.H )06E (.6(F&.* )E,77 2& +&3-+*&F *- *E& #-11())(-. ?(*E(. *E(+*4 :PQA 6,7&.F,+ F,4) 9+-1 *E& -660++&.6& *E&+&-9 ?(*E (.9-+1,*(-. ,.F 6-137&*& 6-.*,6* F&*,(7) -9 *E& .&? 6-.*,6* 3&+)-. F&)('.,*&F;
!"#$%"&''()*!
/:-;< ="##67 >6?3:" @ -"A BCBD $:3?3 $E61F6 GHHB 03I32; -;2: 5J;?;<<;167
(6?K LBMHN OPG DMDC +3QK LBMHN OGP DOCH 6:A4"RS
TU$S5V- V6WA ,"A DDDGX &646RY6# HOX HDGHX E3?;9 F12;? &646RY6# MGX HDGZ /)- $44#69;232;"1 ,"A DDGH[+V[M L=#"F< $NX ,"E6RY6# GZX HDGHX E3?;9 F12;? ,"E6RY6# GBX HDGZ
1)4*V*)4*)+ '641+-.5W .*V-.+
!"# %&'()"'*+#,- ./+ &"# 0'.,+ '1 23,#(&',456 7#&8',)9 :/(; 456 7#&8',) <#/&#, !3='> 6?#/@# (',/#, A2%6 B@#C'/ <3&D
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
5./.>#=#/& 3- ,#-F'/-3G*# 1', &"# F,#F.,.&3'/ ./+ 1.3, F,#-#/&.&3'/ '1 &"#-# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- 3/ .((',+./(# 83&" O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+-9 ./+ 1', -@(" 3/&#,/.* ('/&,'* .- =./.>#=#/& +#&#,=3/#- 3- /#(#--.,D &' #/.G*# &"# F,#F.,.&3'/ '1 ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&&".& .,# 1,## 1,'= =.&#,3.* =3--&.&#=#/&9 8"#&"#, +@# &' 1,.@+ ', #,,',; :;6.'-3)( +%),-#)./.0.'1
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
!"#$%"&''()*! $ R6RY6# !;#R "! )#172 @ \"F1W =?"Y3? .;R;269
UJU
<,.#.-#
:/ '@, 'F3/3'/9 &"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- F,#-#/& 1.3,*D9 3/ .** =.&#,3.* ,#-F#(&-9 &"# 13/./(3.* F'-3&3'/ '1 456 7#&8',)9 :/(; ./+ %@G-3+3.,3#- .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ./+ &"#3, 13/./(3.* F#,1',=./(# ./+ &"#3, (.-" 1*'8- 1', #.(" '1 &"# &",## D#.,- 3/ &"# F#,3'+ #/+#+ 2#(#=G#, HI9 JKIL 3/ .((',+./(# 83&" O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+-;
%V<:O 4RQQA% WAX6VR Y
5.,D+3&" <; 53>@#* O.,&/#,
!"#$%"&''()*! $ R6RY6# !;#R "! )#172 @ \"F1W =?"Y3? .;R;269
%&' )*+,-./0 1)23 ')4 5675141'.1*5 2-)5-X14'+*4 5+'+*&*)+5 -H H1)')21'X V-51+1-)
48D8@M8< $# JKIH "R#Y '55*+5 2C<<8>9 'ZZ89Z <.-" ./+ (.-" #M@3?.*#/&- ^7'&#- Z ./+ HK_ %"',&U&#,= 3/?#-&=#/&- ^7'&# HK_ !,.+# ./+ '&"#, ,#(#3?.G*#- ^7'&#- ]9 JK9 ./+ HK_ O,'>,.= ./+ '&"#, ,3>"&- ^7'&# \_ O,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&- ^7'&# a_
b OI9]La9ZHI9IaZ c ]9\]L9KKJ Y0\$O0$Q\0\R" H9[JI9LHK9LLH #0#NO0"QR0QRN I9JKa9JJa9J\I ZH[9KaH9\KL QO!0Y$!0#Y# O0""R0NRQ0NQ" ]9IJH9J[\9]JZ c "\0Y$"0YQ" O0"YQ0$YR0YYY ]9IJH9J[\9]JZ
[ V#0!NO0O"!0!"R
6--#& (*.--313#+ .- "#*+ 1', -.*# ^7'&# I[_ +;9LK 2C<<8>9 'ZZ89Z );>DC<<8>9 'ZZ89Z 6?.3*.G*#U1',U-.*# 13/./(3.* .--#&- ^7'&#- IK9 HK ./+ HI_ :/?#-&=#/&- ./+ .+?./(#- ^7'&#- II ./+ JK_ O,'F#,&D ./+ #M@3F=#/&d 6& ('-& ^7'&# IJ_ 6& ,#?.*@#+ .='@/&- ^7'&# IH_ :/?#-&=#/& F,'F#,&3#- ^7'&#- IL ./+ HI_ 2#1#,,#+ 3/('=# &.N .--#&- U /#& ^7'&# J\_ R&"#, /'/(@,,#/& .--#&- ^7'&#- I[9 HK ./+ HI_ +;9LK );>DC<<8>9 'ZZ89Z
#"N0R"Y0RO# #YQ0N$Q0!YY
$0$Q$0O#R0Y"Q #0QNN0Q#"0O!O !O0O##0$R\ #YQ0YRR0QNN ##\0$\O0$ON !0QQ$0R\!0YRY
+-+'X '55*+5
IH[9[[J9[L\ IHa9LZH9aH\
H9[\a9Z[I9]\I I9\K[9HKK9K[I ZK9[HJ9JKa \\9I[K9\ZJ ILJ9KJZ9\HZ [9aZK9Z]\9JJ[
V [#Y0R"R0YR!0OYO
b OIH9K\H9aHZ9a[I
[ V"0"""0N\R0RRR #0N$#0#O$0#O! \#0\!$0QO! N0\NO0R$!
b OI9IKZ9\][9KKK I9]\I9LLI9[K\ J]Z9K[[9aJH \9\Z\9ZJa
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
##\0!$$0##Y Y0$Y"0R"O0##N
!0#N$0""$ #0#\#0"OR0R!" "!N0R#"0NQN #N0\N\0$R# #0YY!0#O"0!!! !0QOQ0"#R0\QY
ILI9KaZ9L[Z H9HIL9HH]9[IZ
HH9HHK9IHK ZK[9JL\9K[J JZL9HZ\9K[] LI9[\K9KI[ aLL9[JZ9J[L L9J[\9\ZH9]]K
^P',8.,+_
!"#$%"&''()*!
UJU
"R#Y *]C?9G '999 2;@JL>G <.F3&.* -&'() ^7'&# Ia_ 6++3&3'/.* F.3+U3/ (.F3&.* Q#?.*@.&3'/ 3/(,#=#/& '/ *./+ U /#& '1 &.N ^7'&# IH_ Q#=#.-@,#=#/& *'-- '/ ,#&3,#=#/& F*./- U /#& '1 &.N ^7'&# JZ_ 7#& @/,#.*3C#+ >.3/ '/ .?.3*.G*#U1',U-.*# 13/./(3.* .--#&- U /#& '1 &.N ^7'&# IK_ Q#&.3/#+ #.,/3/>- ^7'&# Ia_ !,#.-@,D -&'()- ^7'&# Ia_ e/+#,*D3/> -".,#- '1 &"# .(M@3,#+ O"3*3FF3/# 2#F'-3& Q#(#3F&^7'&# Ia_ !'&.* AM@3&D 6&&,3G@&.G*# &' O.,#/& <'=F./D AM@3&D 6&&,3G@&.G*# &' 7'/U('/&,'**3/> :/&#,#-& ^7'&# J_ +;9LK *]C?9G +-+'X X1'71X1+1*5 ')4 *E61+T
48D8@M8< $# JKIH
b OL9\ZL9ZaJ9KKK [ VY0O\Y0\N"0RRR #0\!N0R$!0#N\ I9Z[a9KH[9IaZ #0R#Q0"YQ0R"N I9KJI9I[\9KZL ^JL9a[H9K\]_ b$#$0$"O0\QRc H9K\H9I\] !0R#N0QQ! NN"0RQN0ROO I9Jaa9Z\I9Z[K ^J\9L\H9I]I_ b"O0YO$0#Q#c ^[9]aK9KIZ_ b!0QNR0R#\c O0#NR0YQ#0"$# \9]\\9LJH9\JH HZ9ZLa9H[\ Y"0Q"$0NY$ O0"$$0#N!0#QY \9\J[9K]H9I\I [ V#Y0R"R0YR!0OYO
b OIH9K\H9aHZ9a[I
!"" $%%&'($)*+), -&."/ .& 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./4
!"#$%"&''()*!
%&' )*+,-./0 1)23 ')4 5675141'.1*5 2-)5-X14'+*4 5+'+*&*)+5 -H 2-&V.*^*)51d* 1)2-&*
T8L_8_ 48D8@M8< $# JKIH "R#Y )*+ .*d*)6*5 ^7'&# JI_
V [##0NO"0OOO0$Y\
V.-462+1-) 2-5+5 ^7'&# JJ_
JKIJ
b O IJ9a[K9\]a9HJJ
O bIJ9K\[9aHL9a]K
!0!!#0QO"0N\Y
[9a[Z9H\I9]K[
[9J\[9ILH9LaJ
%.-55 V.-H1+
\0Y$#0#R!0$O"
Z9aaL9La]9ZI]
Z9\KK9]aI9L]\
%*)*.'X ')4 '4&1)15+.'+1d* *eV*)5*5 ^7'&# JH_
!0R"#0N\N0ON"
L9ZK\9aL[9ILZ
L9[I\9ZHZ9[Ia ^LJ9aK]9]HZ_ HL9]LK9\]a ^JH9ZZK9H[[_
-+^*. 1)2-&* b*eV*)5*c :/&#,#-& #NF#/-# ./+ 13/./(3/> (".,>#- ^7'&# I]_ :/&#,#-& 3/('=# ^7'&# Z_ 7#& 1',#3>/ (@,,#/(D #N("./># *'- AM@3&D 3/ /#& #.,/3/>- ^*'--#-_ '1 T'3/& ?#/&@,#^7'&# II_ R&"#,- U /#& ^7'&# J[_
1)2-&* 7*H-.* 1)2-&* +'e
^[H9II[9JHL_ JH9aaK9\K[ ^HI9HJK9a\J_
!0$$O0Q\# Q\0\\\0NYQ YO0$#O0!O!
^[9HZJ9K[I_ Z]9[ZI9KLL I9][H9[\J
!#$0N#Q0"NY b\!0NO"0Y\$c YYQ0N$Y0O$#
)*+ 1)2-&*
#0RRN0!#N0"YY
-+^*. 2-&V.*^*)51d* 1)2-&* bX-55c U /#& '1 &.N 5."' .& 6" 7"%1$//+8+"2 .& (7&8+. &7 1&// +) /96/":9"). ("7+&2/ ; e/,#.*3C#+ >.3/ ^*'--_ '/ .?.3*.G*#U1',U-.*# 13/./(3.* .--#&- ^7'&# IK_ 5."'/ )&. .& 6" 7"%1$//+8+"2 .& (7&8+. &7 1&// +) /96/":9"). ("7+&2/d Q#?.*@.&3'/ 3/(,#=#/& ^+#(,#=#/&_ '/ *./+ ^7'&# IH_ Q#=#.-@,#=#/& >.3/ ^*'--_ '/ ,#&3,#=#/& F*./^7'&# JZ_
#0N$\0!OO
]LK9JII9][L ^LZ9ZHL9]aL_ ZaH9[]Z9aZK
I9Z]L9a][9KIJ
I9ZJK9]]J9\H]
^a\J9]LK_
I9HIH9JLK
c ]]9]\L9Z[[ ]a9Ka]9\a[ O bI9Zaa9\]K9]HJ
b OI9ZZZ9aLa9\[[ \9KJ[9I[] b OI9Z]L9a][9KIJ
O bI9ZIZ9\\\9ZHH H9\\L9JKL O bI9ZJK9]]J9\H]
bV ["NR0$!R0R$Rc #0"R\0$!Q bV ["ON0#Y$0\Q$c
b OJI[9]IZ9J]\ c b OJI[9]IZ9J]\
O b]a9HaJ9LKH ^JaL9[K\_ O b]a9Ka]9\a[
V [R3"RQ
b OK;HLH
b OK;HHH
V [#0 RRY0\!#0R#\ Y0O\O0""O V [#0 RRN0!#N0"YY
-9a8< D;@J<8a8>Z?B8 ?>D;@8 L99 3/&#,#-&
aKa9IaK9HLK ^IaZ9\[a9Jaa_ ]IJ9HHI9KLI
b OI9\aK9ZaI9JaK
V [Q"R0$Q!0!Q#
J9HIL9HLa9]a]
^ZK9HKI9KJL_ JI[9]IZ9J]\
b"OQ0#\N0""\c b"ON0#Y$0\Q$c
c ZL9KJJ9K[K HJ9IaL9\H\
J9H\]9HKZ9K[H
J]]9KKK9KLJ
b$0N##0R$!c
+-+'X 2-&V.*^*)51d* 1)2-&*
7LZ?D S 4?KC98_ *L<>?>AZ V8< 5aL<8 ^7'&# Ja_
#0Y!Q0Y!Y0RQ!
V.-d151-) H-. 1)2-&* +'e ^7'&# J\_ <@,,#/& 2#1#,,#+
)89 ?>D;@8 L99 3/&#,#-&
b$\0$!!0QN$c #!0\YR0NY" b#"0NQ"0"Q"c
!"" $%%&'($)*+), -&."/ .& 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./4
!"#$%"&''()*!
%&' )*+,-./0 1)23 ')4 5675141'.1*5 2-)5-X14'+*4 5+'+*&*)+5 -H 2^')%*5 1) *E61+T *]C?9G '999 2;@JL>G
2LJ?9LK 59;D= ^7'&# Ia_
0.*./(#- .& `./@.,D I9 JKIL 7#& 3/('=# R&"#, ('=F,#"#/-3?# 3/('=#
[ VY0O\Y0\N"0RRR
)89 6><8LK?F8_ .8@8LZC<8@8>9 %L?> ;> .8BLKCL9?;> %L?> bX;ZZc ;> 'BL?KLMK8P`;LK 1>D<8@8>9 ;> .89?<8@8>9 VKL>Z H?>L>D?LK 'ZZ89Z U VL?_P?> XL>_ U 7#& '1 U 7#& '1 !.N 7#& '1 !.N 2LJ?9LK !.N ^7'&# IH_ ^7'&# JZ_ ^7'&# IK_ [ V#0\!N0R$!0#N\ [ V#0 R" #0 #! O0 R\ Y
b[V"Y 0N !$ 0RO Qc
5aL<8Z ;` 9a8 +;9LK 'D]C?<8_ *]C?9G .89L?>8_ Va?K?JJ?>8 '99?>AZ +<8LZC9 2;@JL>G ^7'&# Ia_ ^7'&#Ia_ ^7'&# Ia_
[ V$0RO$0#OQ [ V#0"NN0\O#0\!R
bV [ "O 0Y O$ 0# Q# c
b[!0QNR0R#\c V [ VO0 QO O0 Y" $0 O" $
);>P D;>9<;KK?>A 1>98<8Z9 ^7'&# J_
+;9LK *]C?9G
[ V$\0\YN0$!O
[ VO0O"!0RQ$0#O#
I I
I I
I b$0N##0R$!c
I b"OO0$Q!0!O$c
I #0N$\0!OO
#0RRY0\!#0R#\ I
I I
I I
#0RRY0\!#0R#\ b"NR0$!R0R$Rc
Y0O\O0""O #0"R\0$!Q
#0RRN0!#N0"YY b"ON0#Y$0\Q$c
I I
I I
b$0N##0R$!c I
b"OO0$Q!0!O$c I
#0N$\0!OO I
#0RRY0\!#0R#\ b#0$#"0"!$0!QOc
I I
I I
Q#Y0$RR0NO\ b#0$#"0"!$0!QOc
\0RQY0!O! I
Q"R0$Q!0!Q# b#0$#"0"!$0!QOc
bV [ $# $0 $" O0 \Q Rc
[ V!0R#N0QQ!
[ VNN"0RQN0ROO
bV [ "O 0Y O$ 0# Q# c
b[!0QNR0R#\c V [ VO0 #N R0 YQ #0 "$ #
[ VY"0Q"$0NY$
!'&.* ('=F,#"#/-3?# 3/('=# <.-" +3?3+#/+- U O bK;J] . -".,# ^7'&# Ia_ 0.*./(#- .& 2#(#=G#, HI9 JKIL
[ VY0O\Y0\N"0RRR
[ V#0\!N0R$!0#N\ [ V#0R#Q0"YQ0R"N
0.*./(#- .& `. /@.,D I9 JKI H 7#& 3/('=# R&"#, ('=F,#"#/-3?# 3/('=# !'&.* ('=F,#"#/-3?# 3/('=#
b OL9\ZL9ZaJ9KKK c c c
b OI9Z[a9KH[9IaZ c c c
b O ]L L9I [\9 KJJ c J]]9KKK9KLJ J]]9KKK9KLJ
b OH[9HL]9aH] c ^ZK9HKI9KJL_ ^ZK9HKI9KJL_
b OL9KZ[9aJ] c ^a\J9]LK_ ^a\J9]LK_
b O\L]9]\I9LKL I9ZZZ9aLa9\[[ c I9ZZZ9aLa9\[[
^O bJ\9L\H9I]I_ c c c
^O b[9]aK9KIZ_ b O \9 IJ K9 \K ]9 Ja a c I9ZZZ9aLa9\[[ c JI[9]IZ9J]\ c I9\\J9ZZZ9IHH
b OJ\9ZJL9JKI b O\9ILa9LHI9[KK \9KJ[9I[] I9Z]L9a][9KIJ c JI[9]IZ9J]\ \9KJ[9I[] I9\aK9ZaI9JaK
<.-" +3?3+#/+- U O bK;J[ . -".,# ^7'&# Ia_ 0 .* ./ (# - . & 2 #( #= G# , H I9 J KI H
c b OL9\ZL9ZaJ9KKK
c c b OI9Z[a9KH[9IaZ b OI9 KJ I9 I[ \9 KZ L
c ^O b JL 9a [H 9K\ ]_
c ^I9JI[9KLa9ZKa_ b OH9K\H9I\] b OI9Jaa9Z\I9Z[K
c ^O bJ\9L\H9I]I_
c ^I9JI[9KLa9ZKa_ ^O b[9]aK9KIZ_ b O \9 ]\ \9 LJ H9 \J H
c b OHZ9ZLa9H[\
0.*./(#- .& `. /@.,D I9 JKI J 7#& 3/('=# R&"#, ('=F,#"#/-3?# 3/('=# !'&.* ('=F,#"#/-3?# 3/('=# <.-" +3?3+#/+- U O bK;LK . -".,# ^7'&# Ia_ <.-" +3?3+#/+- U O bK;JZ . -".,# ^7'&# Ia_ !'&.* (.-" +3?3+#/+0 .* ./ (# - . & 2 #( #= G# , H I9 J KI J
b OL9\ZL9ZaJ9KKK ] c c c c c b OL9\ZL9ZaJ9KKK
b OI9Z[a9KH[9IaZ c c c c c c b OI9Z[a9KH[9IaZ
^O b LJ 9] HI 9JJ Z_ c ]\9K]a9IZH ]\9K]a9IZH c c c b OH[ 9HL] 9aH ]
b OJ9][J9Z\] b OJ9LHa9]ZZ9LHa c I9ZIZ9\\\9ZHH I9HIH9JLK c I9HIH9JLK I9ZIZ9\\\9ZHH c ^I9aLL9K]a9H][_ c ^I9JZL9]aL9JaH_ c ^H9JK\9\]H9ZZ\_ b OL9KZ[9aJ] b O\L]9]\I9LKL
^O bJ\9L\H9I]I_ c c c c c c ^O b J\ 9L \H 9I ]I _
^O b[9]aK9KIZ_ c c c c c c ^b[9]aK9KIZ_ O
b OJ[9KHL9[K[ b Oa9Z[\9LHL9LHZ H9\\L9JKL I9ZJK9]]J9\H] ^JaL9[K\_ ]a9Ka]9\a[ H9[\a9ZaZ I9Zaa9\]K9]HJ c ^I9aLL9K]a9H][_ c ^I9JZL9]aL9JaH_ c ^H9JK\9\]H9ZZ\_ b OJ\9ZJL9JKI b O\9ILa9LHI9[KK
b O]LL9I[\9KJJ c c c c c c b O ]L L9I [\9 KJJ
b O a9 ZH H9 Ha a9 aH I I9ZIZ9\\\9ZHH ] a9HaJ9LKH I9ZaZ9J\I9KHZ ^I9aLL9K]a9H][_ ^I9JZL9]aL9JaH_ ^H9JK\9\]H9ZZ\_ b O \9 IJ K9 \K ]9 Ja a
[ VO0"$$0#N!0#QY
^I9JI[9KLa9ZKa_ b O\9\J[9K]H9I\I
!"" $%%&'($)*+), -&."/ .& 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./4
!"#$%"&''()*!
%&' )*+,-./0 1)23 ')4 5675141'.1*5 2-)5-X14'+*4 5+'+*&*)+5 -H 2'5^ HX-,5
T8L_8_ 48D8@M8< $# JKIH "R#Y 2'5^ HX-,5 H.-& -V*.'+1)% '2+1d1+1*5 :/('=# G#1',# 3/('=# &.N 7'/U(.-" .+T@-&=#/&- &' ,#('/(3*# 3/('=# G#1',# 3/('=# &.N &' /#& (.-" 1*'8-d 2#F,#(3.&3'/ ./+ .=',&3C.&3'/ ^7'&#- IJ9 IL9 JJ ./+ JH_ O,'>,.= ./+ '&"#, ,3>"&- @-.># ^7'&#- \ ./+ JJ_ O#/-3'/ #NF#/-# ^7'&# JZ_ :/&#,#-& #NF#/-# ./+ 13/./(3/> (".,># 4.3/ '/ -.*# '1 F,'F#,&D ./+ #M@3F=#/& ^7'&# J[_ 6=',&3C.&3'/ '1 -'1&8.,# ('-&- ^7'&#- I[ ./+ JH_ :/&#,#-& 3/('=# ^7'&# Z_ 7#& @/,#.*3C#+ 1',#3>/ (@,,#/(D #N("./># *'-AM@3&D 3/ /#& *'--#- ^#.,/3/>-_ '1 T'3/& ?#/&@,#^7'&# II_ X'-- '/ .--#& +3-F'-#+f8,3&&#/ '11 ^7'&# J[_ 23?3+#/+ 3/('=# ^7'&# J[_ O,'?3-3'/- 1', 3=F.3,=#/& *'-- '/ 6P% 13/./(3.* .--#&- ^7'&#- IK ./+ JH_ O,'?3-3'/- 1', +'@G&1@* .(('@/&- ^7'&#- ] ./+ JH_ E',)3/> (.F3&.* .+T@-&=#/&-d 2#(,#.-#- ^3/(,#.-#-_ 3/d %"',&U&#,= 3/?#-&=#/& !,.+# ./+ '&"#, ,#(#3?.G*# O,'>,.= ./+ '&"#, ,3>"& O,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&:/(,#.-#- ^+#(,#.-#-_ 3/d !,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#RG*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&R&"#, *'/>U&#,= #=F*'D## G#/#13& <'/&,3G@&3'/- &' ,#&3,#=#/& F*./ .--#&- ^7'&# JZ_ 0#/#13&- F.3+ '@& '1 4,'@FS- 1@/+ <.-" 1*'8- F,'?3+#+ GD 'F#,.&3'/ :/&#,#-& ,#(#3?#+ :/('=# &.N#- F.3+ 7#& (.-" 1*'8- 1,'= 'F#,.&3/> .(&3?3&3# 2'5^ HX-,5 H.-& 1)d*5+1)% '2+1d1+1*5 6(M@3-3&3'/- '1d O,'F#,&D ./+ #M@3F=#/& ^7'&# IJ_ %'1&8.,# ('-&- ^7'&# I[_ :/?#-&=#/& F,'F#,&3#- ^7'&# IL_ :/?#-&=#/& 3/ T'3/& ?#/&@,# O,'(##+- 1,'= -.*# '1 F,'F#,&D ./+ #M@3F=#/& 6+?./(#- &' ./ .--'(3.&# 2#(,#.-# ^3/(,#.-#_ 3/ '&"#, /'/(@,,#/& .--#& O,'(##+- 1,'= -.*# '1 3/?#-&=#/& F,'F#,&3# <.-" +3?3+#/+- ,#(#3?#+ 7#& (.-" 1*'8- @-#+ 3/ 3/?#-&3/> .(&3?3&3#
b OJ9H\]9HKZ9K[H
V [#0Y!Q0Y!Y0RQ!
QQ\0!"!0O#" \Y\0\OR0QNN #\$0R#\0!"! $\0$!!0QN$ b$"0Q#O0$O"c "$0$\N0R## b#!0\YR0NY"c #"0$!Q0O#Y
[9HZJ9K[I J9]KH9[]Z ^JJ9IHK9HKK_
#0$QR0$RR Q#!0YN!
Q0OQY0RR" b#0##Y0NN!0\ROc b\$!0Q""0""Qc b#!R0$Y#0$$Qc
]K[9LLK9\\[ [Z[9H[]9ZaI IIZ9I[\9I\H [H9II[9JHL ^II9JLH9]HK_ HK9aa[9\LL ^JH9aaK9\K[_ L[9ZJ\9]aI
b!0$$O0Q\#c $0\"Y0R## b!#Y0NY"c
I9K[H9[[K \L\9KK[
ZZL9ILK HHI9\KJ9\JJ ^[\[9LLZ9HKJ_ IHK9L\J9H[]
JKIJ O bJ9HIL9HLa9]a]
ZIK9KKJ9aI] LZK9aH]9LZ[ IJK9LKI9HIK LJ9aK]9]HZ ^Ja9KL[9LL]_ J]9]HH9aH\ ^HL9]LK9\]a_ J9[K]9HH] c c ^I9HaL9HHL_ I9K[H9[[K H[9]\[9JK]
^\9[H\9ILJ_ J\[9\\J9[I] ^aJK9K]a9a\L_ ^JJ9]\J9\aJ_
#YO0QR$0Y#N b!#0!RR0##Yc #"0"YR0!YO b#Q0!N!0\"\c I #0"\!0N#N0\\! #!0OO\0"O$ b\#N0OO#0ROYc \\#0N"Y0O\Y
I\[9[a\9a]K ^]Z9H\H9\\\_ JI9]II9\\K ^H9[]\9Z\]_ ^LJK9Ia\_ H9\ZI9KHZ9IJJ JL9KJH9KLJ ^\Ja9]LJ9\[[_ H9K[[9HIZ9HKa
ILI9LL[9ILI JKa9Haa9\\\ ^IZ9I\]9HHI_ c ^IJ9]Z\9H\]_ H9JKZ9\Za9LK] H[9\]\9LKI ^ZH]9J[[9KLa_ J9ZK[9LaJ9][a
b!\$0ON\0YN#c b"#0\$"0R!Oc b$0"NN0"QNc I $O0N$Q0YRN b$0#$Y0OY!c b"0!#R0NQOc "0Y#R0RR# \!0NR" b!!$0R\R0$$Nc
^a]Z9KH\9ZI\_ ^H[9Z[J9ZLJ_ c ^IK9KKK9KKK_ HK9\\L9]KH c ^[9KL]9KZL_ c ILL9H\] ^aa[9]Ka9JHL_
^Z]J9Z[J9JJ]_ ^IJ9HKa9\LJ_ ^I9\LZ9[Ia_ c IH9J[]9[KZ c ] 9LZ[9ZHJ c c ^ZZZ9K\[9L[K_
^P',8.,+_
!"#$%"&''()*!
UJU
T8L_8_ 48D8@M8< $# JKIH "R#Y 2'5^ HX-,5 H.-& H1)')21)% '2+1d1+1*5 O,'(##+- 1,'= .?.3*=#/&- '1 -"',&U&#,= *'./- ^7'&# I]_ O.D=#/&- '1d <.-" +3?3+#/+- ^7'&# Ia_ %"',&U&#,= *'./- ^7'&# I]_ :/&#,#-& ./+ 13/./(3/> (".,># 7#& (.-" 1*'8- @-#+ 3/ 13/./(3/> .(&3?3&3# )*+ 1)2.*'5* b4*2.*'5*c 1) 2'5^ ')4 2'5^ *E61d'X*)+5 *HH*2+ -H *e2^')%* .'+* 2^')%*5 -) 2'5^ ')4 2'5^ *E61d'X*)+5 g2'5^ ')4 2'5^ *E61d'X*)+5 '+ 7*%1))1)% -H T*'. 2'5^ ')4 2'5^ *E61d'X*)+5 '+ *)4 -H T*'. ^7'&# Z_
b OI9\J[9KKK9KKK
V ["0#N#0!!N0RRR b#0$##0Y"Y0#Q"c b#0#R\0O"Y0RRRc b$!0$#Q0!$!c b"\"0RR\0QRQc
^I9JIH9\Ja9K]]_ ^J9[KK9KKK9KKK_ ^[J9\L\9[IK_ ^I9aLI9Z]]9[\]_
b#!$0#Y"0#O"c
"0$$\0!R\ #0QYN0\$#0#N\ V [#0!NO0O"!0!"R
JKIJ O bH9JKK9KKK9KKK ^H9JKZ9IZ]9\[I_ ^I9[KK9KKK9KKK_ ^LI9\LI9KZa_ ^I9[L\9KK\9aJK_
LL]9[[H9J]J
ZI9]]L9ZK[
IL9]aJ9HZL
^H9JIK9JaI_
I9J\]9J\[9[ZK
I9JJ\9]JI9JLZ
b OI9]La9ZHI9IaZ
O bI9J\]9J\[9[ZK
!"" $%%&'($)*+), -&."/ .& 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./4
!"#$%"&''()*!
%&' )*+,-./0 1)23 ')4 5675141'.1*5 )-+*5 +- 2-)5-X14'+*4 H1)')21'X 5+'+*&*)+5
I; 2;`;<@L9?;> 456 7#&8',)9 :/(; ^47: ', &"# O.,#/& <'=F./D_ ./+ 3&- -@G-3+3.,3#- ^('**#(&3?#*D ,#1#,,#+ &' . g&"# 4,'@Fh_ .,# 3/(',F',.&#+ 3/ &"# O"3*3FF3/#-; !"# 4,'@F 3- F,3=.,3*D 3/?'*?#+ 3/ &"# G@-3/#-'1 ,.+3' ./+ &#*#?3-3'/ G,'.+(.-&3/>; !"# 4,'@F 3- .*-' 3/?'*?#+ 3/ 13*= F,'+@(&3'/ ./+ '&"#, 3/1',=.&3'/ ./+ #/&#,&.3/=#/&U,#*.&#+ G@-3/#--#-; !"# ,#>3-&#,#+ '113(# .++,#-- '1 &"# O.,#/& <'=F./D 3- 456 7#&8',) <#/&#,9 !3='> 6?#/@# (',/#, A2%69 B@#C'/ <3&D; !"# O.,#/& <'=F./D 8.- ,#>3-&#,#+ 83&" &"# O"3*3FF3/# %#(@,3&3#- ./+ AN("./># <'==3--3'/ ^%A<_ '/ `@/# IL9 Ia[K; R/ `@*D JK9 Iaa[9 &"# 0'.,+ '1 23,#(&',- ^0R2_ .FF,'?#+ &"# #N&#/-3'/ '1 &"# (',F',.&# &#,= '1 &"# O.,#/& <'=F./D 1', ./'&"#, [K D#.,- 1,'= `@/# IL9 JKKK; :/ Iaa]9 &"# %A< .FF,'?#+ &"# -.3+ #N&#/-3'/; !"# O.,#/& <'=F./DS- -".,#- '1 -&'() .,# F@G*3(*D *3-&#+ ./+ &,.+#+ 3/ &"# O"3*3FF3/# %&'() AN("./>#; !"# .(('=F./D3/> ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- '1 &"# 4,'@F 8#,# .FF,'?#+ ./+ .@&"',3C#+ 1', 3--@# 3/ .((',+./(# 83&" . ,#-'*@&3'/ '1 &"# 0R2 '/ 5.,(" HK9 JKI[;
J; 7LZ?Z ;` V<8JL L>_ 2;>Z;K?_L9?;>0 59L98@8>9 ;` 2;@JK?L>D8 L>_ 2a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
!"#$%"&''()*!
UJU
E"#/ &"# O.,#/& <'=F./D ".- *#-- &"./ . =.T',3&D '1 &"# ?'&3/> ', -3=3*., ,3>"&- '1 ./ 3/?#-&##9 &"# O.,#/& <'=F./D ('/-3+#,- .** ,#*#?./& 1.(&- ./+ (3,(@=-&./(#- 3/ .--#--3/> 8"#&"#, 3& ". F'8#, '?#, ./ 3/?#-&##9 3/(*@+3/>d
!"# ('/&,.(&@.* .,,./>#=#/& 83&" &"# '&"#, ?'&# "'*+#,- '1 &"# 3/?#-&##i Q3>"&- .,3-3/> 1,'= '&"#, ('/&,.(&@.* .,,./>#=#/&-i ', !"# O.,#/& <'=F./DS- ?'&3/> ,3>"&- ./+ F'&#/&3.* ?'&3/> ,3>"&-;
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e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j '1 /'/U ('/&,'**3/> 3/&#,#-&- ./+ &"'-# -@G-3+3.,3#- 8"3(" &DF# '1 .(&3 ?3&3#- &"#D #/>.># 3/ 3- 3=F',&./& &' &"# 4,'@F .- .& #/+ '1 &"# D#.,; P3/./(3.* 3/1',=.&3'/ '1 Q456 7#&8',)9 . -@G-3+3.,D &".& ".- =.&#,3.* 7<:9 .,# -@==.,3C#+ G#*'8d
O,'F',&3'/ '1 #M@3&D 3/&#,#-& "#*+ GD 7<: 6((@=@*.&#+ G.*./(#- '1 =.&#,3.* 7<: 7#& 3/('=# .**'(.&#+ &' =.&#,3.* 7<:
"R#Y !#h [ VY#0\#Q0\"$ Y0O\O0""O
JKIH [Ij b OH[9[LH9KH\ \9KJ[9I[]
!"# -@==.,3C#+ 13/./(3.* 3/1',=.&3'/ '1 Q456 7#&8',) .,# F,'?3+#+ G#*'8;
!"#$%"&''()*!
UHU
%@==.,3C#+ %&.&#=#/&- '1 :/('=# ./+ %&.&#=#/&- '1 <'=F,#"#/-3?# :/('=#
Q#?#/@# ANF#/-# O,'?3-3'/ 1', 3/('=# &.N 7#& 3/('=# R&"#, ('=F,#"#/-3?# 3/('=# !'&.* ('=F,#"#/-3?# 3/('=# 6&&,3G@&.G*# &' 7<:
JKIH b OIZI9IHH9KKJ IH\9Z[Z9HZL Z9]LI9KHZ I[9]H[9ZKJ c
JKIJ b OI[I9H[H9K\H ILK9L]a9JJ[ H9J[]9]]I ]9ZIZ9K\] ^[]]9LZ]_
[ V##0N#R0NYN
b OI[9]H[9ZKJ
b O]9KH\9ZJK
V [\0RQY0!O!
b O\9KJ[9I[]
b OH9[\a9ZaZ
"R#Y V [#YY0R!Q0\#O "Y0QO#0NN" #O0!"R0!#O \O0Q#!0N#R O#0\R$0#O" !#h Y#0\#Q0\"$ #0#R\0$"R [ VY"0Q"$0NY$
JKIH b OIJZ9ILK9KLK JJ9]JI9aJZ J\9ZIJ9aI[ [K9[[Z9\Ia Za9ZaJ9JHJ [Ij H[9[LH9KH\ I9IKZ9HJK b OHZ9ZLa9H[\
"R#Y V [#\#0$R!0\QO #YQ0!N!0NRY Y0#\Y0""N N0!Y!0!Y! "0$\!0YRY
%@==.,3C#+ %&.&#=#/&- '1 P3/./(3.* O'-3&3'/
!'&.* (@,,#/& .--#& !'&.* /'/(@,,#/& .--#& !'&.* (@,,#/& *3.G3*3&3# !'&.* /'/(@,,#/& *3.G3*3&3# !'&.* #M@3&D O,'F',&3'/ '1 #M@3&D 3/&#,#-& "#*+ GD 7<: 7<:S- -".,# 3/ Q456 7#&8',) R&"#, 6&&,3G@&.G*# &' 7<: 6&&,3G@&.G*# &' #M@3&D "'*+#,- '1 &"# O.,#/& <'=F./D
[ V$O0OQN0"$N
b OHH9KLJ9\]L
%@==.,3C#+ <.-" P*'8 :/1',=.&3'/
RF#,.&3/> :/?#-&3/> 7#& 3/(,#.-# ^+#(,#.-#_ 3/ (.-" ./+ (.-" #M@3?.*#/&
"R#Y bV [Y0#$\0R$Oc b\#R0#\Oc bV [Y0QY\0"R\c
JKIH b OI9\LH9HK[ ^I9HHK9K[L_
JKIJ b O[IJ9a[J ^I\I9Z[I_
b O[IH9J[I
b OHHI9HKI
!"#,# 8#,# /' +3?3+#/+- F.3+ &' 7<: 1', &"# D#.,- #/+#+ 2#(#=G#, HI9 JKIL9 JKIH ./+ JKIJ;
!"#$%"&''()*!
ULU
!"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- 3/(*@+# &"# .(('@/&- '1 &"# O.,#/& <'=F./D ./+ &"# 1'**'83/> -@G-3+3.,3#- .- .& 2#(#=G#, HI9 JKIL ./+ JKIHd O#,(#/&.># '1 R8/#,-"3F 23,#(& :/+3,#(&
O,3/(3F.* 6(&3?3&3#A/&#,&.3/=#/& 0@-3/#--d 6*&. O,'+@(&3'/- 4,'@F9 :/(; ^6*&._ <3&D/#& 7#&8',) 5.,)#&3/> ./+ O,'+@(&3'/-9 :/(; ^<3&D/#&_ 456 7#&8',) P3*=-9 :/(; 456 7#8 5#+3.9 :/(; ^475:_ 456 E',*+83+# ^O"3*3FF3/#-_9 :/(; %(#/.,3'-9 :/(;k
Q456 5.,)#&3/> ./+ O,'+@(&3'/-9 :/(; Q456 7#&8',) %(,3F&JKIK9 :/(;kk
O,#U ./+ F'-&UF,'+@(&3'/ -#,?3(#-
IKK
c
!#*#?3-3'/ #/&#,&.3/=#/& F,'+@(&3'/
IKK
c
P3*= F,'+@(&3'/ <'/?#,>3/> !#("/'*'>D :/&#,/.&3'/.* =.,)#&3/>9 "./+*3/> 1',#3>/ F,'>,.= .(M@3-3&3'/- ./+ 3/&#,/.&3'/.* -D/+3(.&3'/ '1 &"# O.,#/& <'=F./DS- F,'>,.=2#-3>/9 ('/-&,@(&3'/ ./+ =.3/&#/./(# '1 -#&- 1', !W9 -&.># F*.D- ./+ ('/(#,&-i &,./-F',&.&3'/ -#,?3(#5@-3( ,#(',+3/>9 F@G*3-"3/> ./+ ?3+#' +3-&,3G@&3'/
IKK IKK IKK
c c c
IKK
c
IKK
c
Q.+3' G,'.+(.-&3/> ./+ =./.>#=#/& 2#-3>/9 ('/-&,@(&3'/ ./+ =.3/&#/./(# '1 -#&- 1', !W9 -&.># F*.D- ./+ ('/(#,&-i &,./-F',&.&3'/ ./+ =./F'8#, -#,?3(#-
La c
c IKK
6+?#,&3-3/> 0@-3/#--d 456 5.,)#&3/> Y O,'+@(&3'/-9 AN(*@-3?# =.,)#&3/> ./+ -.*#- .,= '1 &"# O.,#/& :/(; ^45O:_ <'=F./DS- .3,&3=#i #?#/&- =./.>#=#/&i -.*#3=F*#=#/&.&3'/9 &,.113( -#,?3(#- ./+ ='/3&',3/> 23>31D9 :/(;kkk <,.1&3/>9 F*.//3/> ./+ "./+*3/> .+?#,&3-3/> ./+ '&"#, 1',=- '1 F,'='&3'/ 3/(*@+3/> =@*&3U=#+3. F,'+@(&3'/R&"#,-d 5#+3. 5#,># <',F',.&3'/kkk 0@-3/#-- +#?#*'F=#/& ./+ 'F#,.&3'/- 1', &"# O.,#/& <'=F./DS- '/*3/# F@G*3-"3/>f.+?#,&3-3/> 3/3&3.&3?# 73/T. 4,.F"3(-9 :/(;kkkk <#.-#+ ('==#,(3.* 'F#,.&3'/- 3/ JKKL
IKK
c
c
IKK
c
IKK
c
[I
<=)2"7 1+:9+2$.+&) <<5)2+7"%.1* &>)"2 .?7&9,? 0+.*)". <<<5)2+7"%.1* &>)"2 .?7&9,? @-A5 <<<<5)2+7"%.1* &>)"2 .?7&9,? B1.$C %"$/"2 %&''"7%+$1 &("7$.+&)/ +) DEEF
<"./>#- 3/ 6(('@/&3/> O'*3(3#- ./+ 23-(*'-@,#!"# .(('@/&3/> F'*3(3#- .+'F&#+ .,# ('/-3-&#/& 83&" &"'-# '1 &"# F,#?3'@- 13/./(3.* D#.,9 #N(#F& 1', &"# .+'F&3'/ '1 &"# 1'**'83/> /#8 ./+ .=#/+#+ OPQ%9 O"3*3FF3/# 6(('@/&3/> %&./+.,+- ^O6%_ ./+ O"3*3FF3/# :/&#,F,#&.&3'/- 1,'= :/&#,/.&3'/.* P3/./(3.* Q#F',&3/> :/&#,F,#&.&3'/- <'==3&&## ^:PQ:<_ &".& G#(.=# #11#(&3?# +@,3/> &"# D#.,; !"# /.&@,# ./+ 3=F.(& '1 #.(" /#8 -&./+.,+ ./+ .=#/+=#/& .,# +#-(,3G#+ G#*'8d
:/?#-&=#/& A/&3&3#- ^6=#/+=#/&- &' OPQ% IK9 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./G OPQ% IJ9 H+/%1&/97" &8 5)."7"/./ +) I.?"7 J).+.+"/ ./+ O6% J]9 !"($7$." 3+)$)%+$1 !.$."'")./K !"#-# .=#/+=#/&- F,'?3+# ./ #N(#F&3'/ &' &"# ('/-'*3+.&3'/ ,#M@3,#=#/& 1', #/&3&3#- & ".& =##& &"# +#13/3&3'/ '1 ./ 3/?#-&=#/& #/&3&D @/+#, OPQ% IK; !"# #N(#F&3'/ &' ('/-'*3+.&3'/ ,#M@3,#- 3/?#-&=#/& #/&3&3#- &' .(('@/& 1', -@G-3+3.,3#- .& 1.3, ?.*@# &",'@>" F,'13& ', *'--; !"#
!"#$%"&''()*!
U[U
.=#/+=#/&- =@-& G# .FF*3#+ ,#&,'-F#(&3?#*D9 -@GT#(& &' (#,&.3/ &,./-3&3'/ ,#*3#1; !"#-# .=#/+=#/&- ".?# /' 3=F.(& '/ &"# 4,'@F9 -3/(# /'/# '1 &"# #/&3&3#- 83&"3/ &"# 4,'@F M@.*313#- &' G# ./ 3/?#-&=#/& #/&3&D @/+#, OPQ% IK;
O6% HJ9 3+)$)%+$1 5)/.79'")./L M7"/").$.+&) ; I88/"..+), 3+)$)%+$1 B//"./ $)2 3+)$)%+$1 N+$6+1+.+"/ ^6=#/+=#/&-_ !"#-# .=#/+=#/&- (*.,31D &"# =#./3/> '1 l(@,,#/&*D ".- . *#>.**D #/1',(#.G*# ,3>"& &' -#&U'11S ./+ &"# (,3&#,3. 1', /'/U-3=@*&./#'@- -#&&*#=#/& =#("./3-=- '1 (*#.,3/> "'@-#- &' M@.*31D 1', '11-#&&3/> ./+ .,# .FF*3#+ ,#&,'-F#(&3?#*D; !"# .++3&3'/.* +3-(*'-@,#- ,#M@3,#+ GD &"# .=#/+=#/&- .,# F,#-#/&#+ 3/ 7'&# ] &' &"# 4,'@FS('/-'*3+.&#+ 13/./(3.* -&.&#=#/&-;
O6% HZ9 5'($+7'"). &8 B//"./ ; O"%&P"7$61" B'&9). H+/%1&/97"/ 8&7 -&)8+)$)%+$1 B//"./ ^6=#/+=#/&-_ !"#-# .=#/+=#/&- ,#='?# &"# @/3/&#/+#+ ('/-#M@#/(#- '1 OPQ% IH9 3$+7 Q$19" A"$/97"'"). 9 '/ &"# +3-(*'-@,#- ,#M@3,#+ @/+#, O6% HZ; :/ .++3&3'/9 &"#-# .=#/+=#/&,#M@3,# +3-(*'-@,# '1 &"# ,#('?#,.G*# .='@/&- 1', .--#&- ', (.-"U>#/#,.&3/> @/3&- ^<4e-_ 1', 8"3(" 3=F.3,=#/& *'-- ".- G##/ ,#('>/3C#+ ', ,#?#,-#+ +@,3/> &"# F#,3'+; !"# .++3&3'/.* +3-(*'-@,#- ,#M@3,#+ GD &"# .=#/+=#/&- .,# F,#-#/&#+ 3/ 7'&# IL &' &"# 4,'@FS- ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&-;
O6% Ha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
:=F,'?#=#/&- &' OPQ%:=F,'?#=#/&- &' OPQ%-9 ./ '=/3G@- '1 .=#/+=#/&- &' -&./+.,+-9 +#.* F,3=.,3*D 83&" . ?3#8 '1 ,#='?3/> 3/('/-3-&#/(3#- ./+ (*.,31D3/> 8',+3/>-; !"#,# .,# -#F.,.&# &,./-3&3'/.* F,'?3-3'/- 1', #.(" -&./+.,+; !"#-# 3=F,'?#=#/&- .,# #11#(&3?# 3==#+3.&#*D G@& +3+ /'& ".?# . -3>/313(./& 3=F.(& '/ &"# 4,'@FS- ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&-; !"#-# 3/(*@+#d
6//@.* 3=F,'?#=#/&- &' OPQ%- JKIK c JKIJ 3- 3==.&#,3.*;
!"#$%"&''()*!
UZU
6//@.* 3=F,'?#=#/&- &' OPQ%- JKII c JKIH "'@& &"# F#,3'+- F,#-#/&#+ 3/ &"# #/&3&DS- 13,-& OP Q% 13/./(3.* -&.&#=#/&-;
P@&@,# <"./>#- 3/ 6(('@/&3/> O'*3(3#!"# 4,'@F +3+ /'& #.,*D .+'F& &"# 1'** '83/> /#8 -&./+.,+-9 .=#/+=#/&- ./+ 3=F,'?#=#/&- &' OPQ% ./+ O"3*3FF3/# :/&#,F,#&.&3'/- &".& ".?# G##/ .FF,'?#+ G@& .,# /'& D#& #11#(&3?#; AN(#F& .'&"#,83-# -&.&#+9 &"# 4,'@F +'#- /'& #NF#(& &"#-# ("./>#- &' ".?# . -3>/313(./& 3=F.(& '/ 3&('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- @/*#-- '&"#,83-# 3/+3(.&#+; J88"%.+P" +) DEST
OPQ% a9 3+)$)%+$1 5)/.79'")./ ; 01$//+8+%$.+&) $)2 A"$/97"'"). UDESE P"7/+&)K OPQ% a ^JKIK ?#,-3'/_ ,#1*#(&- &"# 13,-& F".-# '/ &"# ,#F*.(#=#/& '1 O6% Ha ./+ .FF*3#- &' & "# (*.--313(.&3'/ ./+ =#.-@,#=#/& '1 13/./(3.* .--#&- ./+ *3.G3*3&3#- .- +#13/#+ 3/ O6% Ha; OPQ% a ,#M@3,#- .** 13/./(3.* .--#&- &' G# =#.-@,#+ .& 1.3, ?.*@# .& 3/3&3.* ,#('>/3&3'/; 6 +#G& 13/./(3.* .--#& =.D9 31 &"# 1.3, ?.*@# 'F&3'/ ^PWR_ 3- /'& 3/?')#+9 G# -@G-#M@#/&*D =#.-@,#+ .& .=',&3C#+ ('-& 31 3& 3- "#*+ 83&"3/ . G@-3/#-- ='+#* &".& ".- &"# 'GT#(&3?# &' "'*+ &"# .--#&- &' ('**#(& &"# ('/&,.(&@.* (.-" 1*'8- ./+ 3&- ('/&,.(&@.* &#,=- >3?# ,3-#9 '/ -F#(313#+ +.&#-9 &' (.-" 1*'8- &".& .,# -'*#*D F.D=#/&- '1 F,3/(3F.* ./+ 3/&#,#-& '/ &"# F,3/(3F.* '@&-&./+3/>; 6** '&"#, +#G& 3/-&,@=#/&- .,# -@G-#M@#/&*D =#.-@,#+ .& 1.3, ?.*@# &",'@>" F,'13& ', *'--; 6** #M@3&D 13/./(3.* .--#&- .,# =#.-@,#+ .& 1.3, ?.*@# #3&"#, &",'@>" R<: ', F,'13& ', *'--; AM@3&D 13/./(3.* .--#&- "#*+ 1', &,.+3/> =@-& G# =#.-@,#+ .& 1.3, ?.*@# &",'@>" F,'13& ', *'--; P', PWR *3.G3*3&3#-9 &"# .='@/& '1 ("./># 3/ &"# 1.3, ?.*@# '1 . *3.G3*3&D &".& 3- .&&, 3G@&.G*# &' ("./>#- 3/ (,#+3& ,3-) =@-& G# F,#-#/&#+ 3/ R<:; !"# ,#=.3/+#, '1 &"# ("./># 3/ 1.3, ?.*@# 3 F,#-#/&#+ 3/ F,'13& ', *'--9 @/*#-- F,#-#/&.&3'/ '1 &"# 1.3, ?.*@# ("./># 3/ ,#-F#(& '1 &"# *3.G3*3&DS- (,#+3& ,3-) 3/ R<: 8'@*+ (,#.&# ', #/*.,># ./ .(('@/&3/> =3-=.&(" 3/ F,'13& ', *'--; 6** '&"#, O6% Ha (*.--313(.&3'/ ./+ =#.-@,#=#/& ,#M@3,#=#/&- 1', 13/./(3.* *3.G3*3&3#- ".?# G##/ (.,,3#+ 1',8.,+ 3/&' OPQ% a9 3/(*@+3/> &"# #=G#++#+ +#,3?.&3?# -#F.,.&3'/ ,@*#- ./+ &"# (,3&#,3. 1', @-3/> &"# PWR; OPQ% a ^JKIK ?#,-3'/_ 3- #11#(&3?# 1', .//@.* F#,3'+- G#>3//3/> '/ ', .1&#, `./@.,D I9 JKI[; !"# =./+.&',D .+'F&3'/ +.&# 8.- ='?#+ &' `./@.,D I9 JKI\ 8"#/ &"# 13/.* ?#,-3'/ '1 OPQ% a 8.- .+'F&#+ GD &"# O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+- <'@/(3* ^PQ%<_; %@(" .+'F&3'/9 "'8#?#,9 3- -&3** 1', .FF,'?.* GD &"# 0'.,+ '1 6(('@/&./(D ^0R6_;
6=#/+=#/&- &' O6% Ia9 J'(1&*"" V")"8+./ ; H"8+)"2 V")"8+. M1$)/L J'(1&*"" 0&).7+69.+&)/ O6% Ia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`./@.,D I9 JKI[;
!"#$%"&''()*!
U]U
J88"%.+P" $8."7 DEST
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` ./@.,D I9 JKIZ9 83&" #.,*D .+'F&3'/ F#,=3&&#+; O6% IZ9 M7&("7.*G M1$). $)2 J:9+('"). 9 ./+ O6% LI9 B,7+%91.97" ; V"$7"7 M1$)./ ^6=#/+=#/&-_ !"# .=#/+=#/&- ("./># &"# .(('@/&3/> ,#M@3,#=#/&- 1', G3'*'>3(.* .--#&- &".& =##& &"# +#13/3&3'/ '1 G#.,#, F*./&-; e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`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`./@.,D I9 JKIZ9 83&" #.,*D .+'F&3'/ F#,=3&&#+; OPQ% IK9 0&)/&1+2$."2 3+)$)%+$1 !.$."'")./9 ./+ O6% J\9 5)P"/.'")./ +) B//&%+$."/ $)2 X&+). Q").97"/ ; %.*# ', <'/&,3G@&3'/ '1 6--#&- G#&8##/ ./ :/?#-&', ./+ 3&- 6--'(3.&# ', `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`./@.,D I9 JKIZ; OPQ% II9 X&+). B77$),"'")./ ; B%%&9).+), 8&7 B%:9+/+.+&)/ &8 5)."7"/./ +) X&+). I("7$.+&)/ ^6=#/+=#/&-_ !"# .=#/+=#/&- &' OPQ% II ,#M@3,# &".& . T'3/& 'F#,.&', .(('@/&3/> 1', &"# .(M@3-3&3'/ '1 ./ 3/&#,#-& 3/ . T'3/& 'F#,.&3'/9 3/ 8"3(" &"# .(&3?3&D '1 &"# T'3/& 'F#,.&3'/ ('/-&3&@&#- . G@-3/#-=@-& .FF*D &"# ,#*#?./& OPQ% H F,3/(3F*#- 1', G@-3/#-- ('=G3/.&3'/- .(('@/&3/>;
!"#$%"&''()*!
U\U
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`./@.,D I9 JKIZ9 83&" #.,*D .+'F&3'/ F#,=3&&#+;
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`./@.,D I9 JKIZ; !"# .=#/+=#/&- .,# /'& .FF*3(.G*# &' &"# 4,'@F; OPQ% a9 3+)$)%+$1 5)/.79'")./ ; R"2," B%%&9).+), ./+ B'")2'")./ .& OPQ% a9 OPQ% ]9 3+)$)%+$1 5)/.79'")./L H+/%1&/97"/9 ./+ O6% Ha ^JKIH ?#,-3'/_ OPQ% a ^JKIH ?#,-3'/_ .*,#.+D 3/(*@+#- &"# &"3,+ F".-# '1 &"# F,'T#(& &' ,#F*.(# O6% Ha 8"3(" F#,&.3/- &' "#+># .(('@/&3/>; !"3- ?#,-3'/ '1 OPQ% a ,#F*.(#- &"# ,@*#-UG.-#+ "#+># .(('@/&3/> ='+#* '1 O6% Ha 83&" . =',# F,3/(3F*#-UG.-#+ .FF,'.("; <"./>#- 3/(*@+# ,#F*.(3/> &"# ,@*#-UG.-#+ "#+># #11#(&3?#/#-- &#-& 83&" ./ 'GT#(&3?#-UG.-#+ &#-& &".& 1'(@-#- '/ &"# #('/'=3( ,#*.&3'/-"3F G#&8##/ &"# "#+>#+ 3&#= ./+ & "# "#+>3/> 3/-&,@=#/&9 ./+ &"# #11#(& '1 (,#+3& ,3-) '/ &".& #('/'=3( ,#*.&3'/-"3Fi .**'83/> ,3-) ('=F'/#/&- &' G# +#-3>/.&#+ .- &"# "#+>#+ 3&#=9 /'& '/*D 1', 13/./(3.* 3&#=- G@& .*-' 1', /'/U13/./(3.* 3&#=-9 F,'?3+#+ &".& &"# ,3-) ('=F'/#/& 3- -#F.,.&#*D 3+#/&313.G*# ./+ ,#*3.G*D =#.-@,.G*#i ./+ .** '83/> &"# &3=# ?.*@# '1 ./ 'F&3'/9 &"# 1',8.,+ #*#=#/& '1 . 1',8.,+ ('/&,.(& ./+ ./D 1',#3>/ (@,,#/(D G.-3- -F,#.+ &' G# #N(*@+#+ 1,'= &"# +#-3>/.&3'/ '1 . +#,3?.&3?# 3/-&,@=#/& .- &"# "#+>3/> 3/-&,@=#/& ./+ .(('@/&#+ 1', .- ('-&- '1 "#+>3/>; OPQ% a .*-' ,#M@3,#- =',# #N&#/-3?# +3-(*'-@,#- 1', "#+># .(('@/&3/>; OPQ% a ^JKIH ?#,-3'/_ ".- /' =./+.&',D #11#(&3?# +.&#; !"# =./+.&',D #11#(&3?# +.&# '1 `./@.,D I9 JKI\ 8.- #?#/&@.**D -#& 8"#/ &"# 13/.* ?#,-3'/ '1 OPQ% a 8.- .+'F&#+ GD &"# PQ%<; !"# .+'F&3'/ '1 &"# 13/.* ?#,-3'/ '1 OPQ% a9 "'8#?#,9 3- -&3** 1', .FF,'?.* GD 0R6;
OPQ% a9 3+)$)%+$1 5)/.79'")./ ^JKIL ', 13/.* ?#,-3'/_ :/ `@*D JKIL9 &"# 13/.* ?#,-3'/ '1 OPQ% a9 3+)$)%+$1 5)/.79'")./9 8.- 3--@#+; OPQ% a ,#1*#(&.** F".-#- '1 &"# 13/./(3.* 3/-&,@=#/&- F,'T#(& ./+ ,#F*.(#- O6% Ha9 3+)$)%+$1 5)/.79'")./L O"%&,)+.+&) $)2 A"$/97"'"). 9 ./+ .** F,#?3'@- ?#,-3'/- '1 OPQ% a; !"# -&./+.,+ 3/&,'+@(#/#8 ,#M@3,#=#/&- 1', (*.--313(.&3'/ ./+ =#.-@,#=#/&9 3=F.3,=#/&9 ./+ "#+># .(('@/&3/>; OPQ% a 3- #11#(&3?# 1', .//@.* F#,3'+- G#>3//3/> '/ ', .1&#, `./@.,D I9 JKI\9 83&" #.,*D .FF*3(.&3'/ F#,=3&&#+; Q#&,'-F#(&3?# .FF*3(.&3'/ 3- ,#M@3,#+9 G@& ('=F.,.&3?# 3/1',=.&3'/ 3/'& ('=F@*-',D; A.,*D .FF*3(.&3'/ '1 F,#?3'@- ?#,-3'/- '1 OPQ% a 3- F#,=3&&#+ 31 &"# +.&# '1 3/3&3.* .FF*3(.&3'/ 3- G#1',# P#G,@.,D I9 JKI[;
!"#$%"&''()*!
UaU
B))9$1 5'(7&P"'")./ .& M3O!/
!"#-# 3=F,'?#=#/&- &' &"# 1'**'83/> -&./+.,+- ./+ 3/&#,F,#&.&3'/- .,# #11#(&3?# 1', .//@.* F#,3'+ G#>3//3/> '/ ', G#1',# `./@.,D I9 JKI[ ./+ .,# /'& #NF#(&#+ &' ".?# . =.&#,3.* 3=F.(& '/ &"# 4,'@FS- ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&-;
6//@.* :=F,'?#=#/&- &' OPQ% ^JKIKUJKIJ
OPQ% J9 !?$7";6$/"2 M$*'"). ; H"8+)+.+&) &8 Q"/.+), 0&)2+.+&) !"3- 3=F,'?#=#/& 3- .FF*3#+ F,'-F#(&3?#*D ./+ (*.,313#- ?.,3'@- 3--@#- ,#*.&3/> &' &"# +#13/3&3'/- '1 F#,1',=./(# ./+ -#,?3(# ('/+3&3'/- 8"3(" .,# ?#-&3/> ('/+3&3'/-9 3/(*@+3/>d
6 F#,1',=./(# ('/+3&3'/ =@-& ('/&.3/ . -#,?3(# ('/+3&3'/ 6 F#,1',=./(# &.,>#& =@-& G# =#& 8"3*# &"# ('@/&#,F.,&D 3- ,#/+#,3/> -#,?3(# 6 F#,1',=./(# &.,>#& =.D ,#*.&# &' &"# 'F#,.&3'/- ', .(&3?3&3#- '1 ./ #/&3&D9 ', &' &"'-# '1 ./'&"#, #/&3&D 3/ &"# -.=# >,'@F 6 F#,1',=./(# ('/+3&3'/ =.D G# . =.,)#& ', /'/U=.,)#& ('/+3&3'/ :1 &"# ('@/&#,F.,&D9 ,#>.,+*#-- '1 &"# ,#.-'/9 (#.-#- &' F,'?3+# -#,?3(# +@,3/> &"# ?#-&3/> F#,3'+9 &"# -#,?3(# ('/+3&3'/ 3- /'& -.&3-13#+;
OPQ% H9 V9/+)"// 0&'6+)$.+&)/ ; B%%&9).+), 8&7 0&).+),"). 0&)/+2"7$.+&) +) $ V9/+)"// 0&'6+)$.+&) !"# .=#/+=#/& (*.,313#- &".& . ('/&3/>#/& ('/-3+#,.&3'/ &".& =##&- &"# +#13/3&3'/ '1 . 13/./(3.* 3/-&,@=#/& -"'@*+ G# (*.--313#+ .- . 13/./(3.* *3.G3*3&D ', .- #M@3&D 3/ .((',+./(# 83&" O6% HJ; <'/&3/>#/& ('/-3+#,.&3'/ &".& 3- /'& (*.--313#+ .- #M@3&D 3- -@G-#M@#/&*D =#.-@,#+ .& 1.3, ?.*@# &",'@>" F,'13& ', *'-- 8"#&"#, ', /'& 3& 1.**- 83&"3/ &"# -('F# '1 OPQ% a ^', O6% Ha9 31 OPQ% a 3- /'& D#& .+'F&#+_; OPQ% \9 I("7$.+), !",'")./ ; B,,7",$.+&) &8 I("7$.+), !",'")./ $)2 O"%&)%+1+$.+&) &8 .?" Y&.$1 &8 .?" O"(&7.$61" !",'")./Z B//"./ .& .?" J).+.*Z/ B//"./ !"# .=#/+=#/&- .,# .FF*3#+ ,#&,'-F#(&3?#*D ./+ (*.,31D &".&d .; 6/ #/&3&D =@-& +3-(*'-# &"# T@+>=#/&- =.+# GD =./.>#=#/& 3/ .FF*D3/> &"# .>>,#>.&3'/ (,3&#,3. 3/ &"# -&./+.,+9 3/(*@+3/> . G,3#1 +#-(,3F&3'/ '1 'F#,.&3/> -#>=#/&- &".& ".?# G##/ .>>,#>.&#+ ./+ &"# #('/'=3( (".,.(&#,3-&3(- ^#;>;9 -.*#- ./+ >,'-- =.,>3/-_ @-#+ &' .--#-- 8"#&"#, &"# -#>=#/&- .,# l-3=3*.,S; G; !"# ,#('/(3*3.&3'/ '1 -#>=#/& .--#&- &' &'&.* .--#&- 3- '/*D ,#M@3,#+ &' G# +3-(*'-#+ 31 &"# ,#('/(3*3.&3'/ 3- ,#F',&#+ &' &"# ("3#1 'F#,.&3/> +#(3-3'/ =.)#,9 -3=3*., &' &"# ,#M@3,#+ +3-(*'-@,# 1', -#>=#/& *3.G3*3&3#-;
O6% IZ9 M7&("7.*G M1$). $)2 J:9+('"). ; O"P$19$.+&) A".?&2 ; M7&(&7.+&)$." O"/.$."'"). &8 B%%9'91$."2 H"(7"%+$.+&) !"# .=#/+=#/& (*.,313#- &".&9 @F'/ ,#?.*@.&3'/ '1 ./ 3&#= '1 F,'F#,&D9 F*./& ./+ #M@3F=#/&9 &"# (.,,D3/> .='@/& '1 &"# .--#& -".** G# .+T@-&#+ &' &"# ,#?.*@#+ .='@/&9 ./+ &"# .--#& -".** G# &,#.&#+ 3/ '/# '1 &"# 1'**'83/> 8.D-d .;
!"# >,'-- (.,,D3/> .='@/& 3- .+T@-&#+ 3/ . =.//#, &".& 3- ('/-3-&#/& 83&" &"# ,#?.*@.&3'/ '1 &"# (.,,D3/> .='@/& '1 &"# .--#&; !"# .((@=@*.&#+ +#F,#(3.&3'/ .& &"# +.&# '1 ,#?.*@.&3'/ 3- .+T@-&#+ &' #M@.* &"# +311#,#/(# G#&8##/ &"# >,'-- (.,,D3/> .='@/& ./+ &"# (.,,D3/> .='@/& '1 &"# .--#& .1&#, &.)3/> 3/&' .(('@/& ./D .((@=@*.&#+ 3=F.3,=#/& *'--#-;
!"#$%"&''()*!
U IK U
G; !"# .((@=@*.&#+ +#F,#(3.&3'/ 3- #*3=3/.&#+ .>.3/-& &"# >,'-- (.,,D3/> .='@/& '1 &"# .--#&; !"# .=#/+=#/& -".** .FF*D &' .** ,#?.*@.&3'/- ,#('>/3C#+ 3/ .//@.* F#,3'+- G#>3//3/> '/ ', .1&#, &"# +.&# '1 3/3&3.* .FF*3(.&3'/ '1 &"3- .=#/+=#/& ./+ 3/ &"# 3==#+3.&#*D F,#(#+3/> .//@.* F#,3'+;
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d .;
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
6//@.* :=F,'?#=#/&- &' OPQ% ^JKIIUJKIH
OPQ% H9 V9/+)"// 0&'6+)$.+&)/ ; !%&(" J\%"(.+&)/ 8&7 X&+). B77$),"'")./ !"# .=#/+=#/& 3- .FF*3#+ F,'-F#(&3?#*D ./+ (*.,313#- &"# 1'**'83/> ,#>.,+3/> &"# -('F# #N(#F&3'/- 83&"3/ OPQ% Hd .; `'3/& .,,./>#=#/&-9 /'& T@-& T'3/& ?#/&@,#-9 .,# '@&-3+# &"# -('F# '1 OPQ% H; G; !"3- -('F# #N(#F&3'/ .FF*3#- '/*D &' &"# .(('@/&3/> 3/ &"# 13/./(3.* -&.&#=#/&- '1 &"# T'3/& .,,./>#=#/& 3&-#*1;
!"#$%"&''()*!
U II U
OPQ% IH9 3$+7 Q$19" A"$/97"'"). ; M&7.8&1+& J\%"(.+&) !"# .=#/+=#/& 3- .FF*3#+ F,'-F#(&3?#*D ./+ (*.,313#- &".& &"# F',&1'*3' #N(#F&3'/ 3/ OPQ% IH (./ G# .FF*3#+ /'& '/*D &' 13/./(3.* .--#&- ./+ 13/./(3.* *3.G3*3&3#-9 G@& .*-' &' '&"#, ('/&,.(&- 83&"3/ &"# -('F# '1 O6% Ha ^', OPQ% a9 .- .FF*3(.G*#_; O6% LK9 5)P"/.'"). M7&("7.* !"# .=#/+=#/& (*.,313#- &"# 3/&#,,#*.&3'/-"3F G#&8##/ OPQ% H ./+ O6% LK 8"#/ (*.--31D3/> F,'F#,&D .- 3/?#-&=#/& F,'F#,&D ', '8/#,U'((@F3#+ F,'F#,&D; !"# .=#/+=#/& -&.&#+ &".& T@+>=#/& 3- /##+#+ 8"#/ +#&#,=3/3/> 8"#&"#, &"# .( M@3-3&3'/ '1 3/?#-&=#/& F,'F#,&D 3- &"# .(M@3-3&3'/ '1 ./ .--#& ', . >,'@F '1 .--#&- ', . G@-3/#-- ('=G3/.&3'/ 83&"3/ &"# -('F# '1 OPQ% H; !"3- T@+>=#/& 3- G.-#+ '/ &"# >@3+./(# '1 OPQ% H;
6//@.* :=F,'?#=#/&- &' OPQ%- ^JKIJUJKIL (D(*#_
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m'8#?#,9 ('=F.,.&3?# +3-(*'-@,#- .,# /'& ,#M@3,#+ &' G# F,'?3+#+ 1', . /D F#,3'+ G#>3//3/> G#1',# &"# .//@.* F#,3'+ 3/ 8"3(" &"# #/&3&D 13,-& .FF*3#- &"# .=#/+=#/&-; OPQ% ]9 3+)$)%+$1 5)/.79'")./L H+/%1&/97"/ ; B((1+%$6+1+.* &8 .?" B'")2'")./ .& M3O! ] .& 0&)2")/"2 5)."7+' 3+)$)%+$1 !.$."'")./ !"3- .=#/+=#/& 3- .FF*3#+ ,#&,'-F#(&3?#*D ./+ (*.,313#- &".& & "# +3-(*'-@,#- '/ '11-#&&3/> '1 13/./(3.* .--#&- ./+ 13/./(3.* *3.G3*3&3#- .,# /'& ,#M@3,#+ 3/ &"# ('/+#/-#+ 3/&#,3= 13/./(3.* ,#F',& @/*#-- &"#D F,'?3+# . -3>/313(./& @F+.&# &' &"# 3/1',=.&3'/ ,#F',&#+ 3/ &"# ='-& ,#(#/& .//@.* ,#F',&; O6% Ia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
!"#$%"&''()*!
U IJ U
83&"3/ &"# >,#.&#, 3/&#,3= 13/./(3.* ,#F',& ^#;>;9 3/ &"# =./.>#=#/& ('==#/&.,D ', ,3-) ,#F',&_; H"8"77"2 J88"%.+P+.*
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
Y?" 8&11&>+), )"> /.$)2$72 +//9"2 6* .?" 5B!V ?$/ )&. *". 6"") $2&(."2 6* .?" 3O!0L
:/&#,/.&3'/.* P3/./(3.* Q#F',&3/> %&./+.,+- ^:PQ%_ I[9 O"P")9" 87&' 0&).7$%./ >+.? 09/.&'"7/ :PQ% I[ 8.- 3--@#+ 3/ 5.D JKIL ./+ #-&.G*3-"#- . /#8 13?#U-&#F ='+#* &".& 83** .FF*D &' ,#?#/@# .,3-3/> 1,'= ('/&,.(&- 83&" (@-&'=#,-; e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`./@.,D I9 JKI] 83&" #.,*D .+'F&3'/ F#,=3&&#+; !"# 4,'@F 3- (@,,#/&*D .--#--3/> &"# 3=F.(& '1 :PQ% I[ ./+ F*./- &' .+'F& &"# /#8 -&./+.,+ '/ &"# ,#M@3,#+ #11#(&3?# +.&# '/(# .+'F&#+ *'(.**D;
H; 5C@@L?`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
!"#$%"&''()*!
U IH U
P.3, W.*@# 5#.-@,#=#/& P.3, ?.*@# 3- &"# F,3(# &".& 8'@*+ G# ,#(#3?#+ &' -#** ./ .- -#& ', F.3+ &' &,./-1#, . *3.G3*3&D 3/ ./ ',+#,*D &,./-.(&3'/ G#&8##/ =.,)#& F.,&3(3F./&- .& &"# =#.-@,#=#/& +.&#; !"# 1.3, ?.*@# =#.-@,#=#/& 3- G.-#+ '/ &"# F,#-@=F&3'/ &".& &"# &,./-.(&3'/ &' -#** &"# .--#& ', &,./-1#, &"# *3.G3*3&D &.)#- F*.(# #3&"#,d
3/ &"# F,3/(3F.* =.,)#& 1', &"# .--#& ', *3.G3*3&Di ', 3/ &"# .G-#/(# '1 . F,3/(3F.* =.,)#&9 3/ &"# ='-& .+?./&.>#'@- =.,)#& 1', &"# .--#& ', *3.G3*3&D; !"# F,3/(3F.* ', &"# ='-& .+?./&.>#'@- =.,)#& =@-& G# .((#--3G*# &' &"# 4,'@F;
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l*3-&#+S .,# &,.+#+ 3/ ./ .(&3?# =.,)#&; E"#,# &"# 4,'@F ".- 13/./(3.* .--#&- ./+ 13/./(3.* *3.G3*3&3#- 83&" '11-#&&3/> F'-3&3'/- 3/ =.,)#& ,3-)- ', ('@/&#,F.,&D (,#+3& ,3-)9 3& ".- #*#(&#+ &' @-# &"# =#.-@,#=#/& #N(#F&3'/ &' =#.-@,# &"# 1.3, ?.*@# '1 3&- /#& ,3-) #NF'-@,# GD .FF*D3/> &"# G3+ ', .-) F,3(# &' &"# /#& 'F#/ F'-3&3'/ .- .FF,'F,3.&#; P', .** '&"#, 13/./(3.* 3/-&,@=#/&- /'& &,.+#+ 3/ ./ .(&3?# =.,)#&9 &"# 1.3, ?.*@# 3- +#&#,=3/#+ GD @-3/> ?.*@.&3'/ &#("/3M@#- +##=#+ &' G# .FF,'F,3.&# 3/ &"# (3,(@=-&./(#-; W.*@.&3'/ &#("/3M@#- 3/(*@+# &"# =.,)#& .FF,'.(" ^3;#;9 @-3/> ,#(#/& .,=S- *#/>&" =.,)#& &,./-.(&3'/- .+T@-&#+ .- /#(#--.,D ./+ ,#1#,#/(# &' &"# (@,,#/& =.,)#& ?.*@# '1 ./'&"#, 3/-&,@=#/& &".& 3- -@G-&./&3.**D &"# -.=#_ ./+ &"# 3/('=# .FF,'.(" ^3;#;9 +3-('@/&#+ (.-" 1*'8 ./.*D-3- ./+ 'F&3'/ F,3(3/> ='+#*- =.)3/> .- =@(" @-# '1 .?.3*.G*# ./ -@FF',&.G*# =.,)#& +.&. .- F'--3G*#_; !"# 4,'@F @-#- ?.*@.&3'/ &#("/3M@#- &".& .,# .FF,'F,3.&# 3/ &"# (3,(@=-&./(#- ./+ 1', 8"3(" -@113(3#/& +.&. .,# .?.3*.G*# &' =#.-@,# 1.3, ?.*@#9 =.N3=3C3/> &"# @-# '1 ,#*#?./& 'G-#,?.G*# 3/F@&- ./+ =3/3=3C3/> &"# @-# '1 @/'G-#,?.G*# 3/F@&-; 6--#&- ./+ *3.G3*3&3#- 1', 8"3(" 1.3, ?.*@# 3- =#.-@,#+ ', +3-(*'-#+ 3/ &"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- .,# (.&#>',3C#+ 83&"3/ &"# 1.3, ?.*@# "3#,.,("D9 +#-(,3G#+ .- 1'**'8-9 G.-#+ '/ &"# *'8#-& *#?#* 3/F@& &".& 3- -3>/313(./& &' &"# 1.3, ?.*@# =#.-@,#=#/& .- . 8"'*#d X#?#* I P B@'&#+ ^@/.+T@-&#+_ =.,)#& F,3(#- 3/ .(&3?# =.,)#&- 1', 3+#/&3(.* .--#&- ', *3.G3*3&3#-i X#?#* J P W.*@.&3'/ &#("/3M@#- 1', 8"3(" &"# *'8#-& *#?#* 3/F@& &".& 3- -3>/313(./& &' &"# 1.3, ?.*@# =#.-@,#=#/& 3- +3,#(&*D ', 3/+3,#(&*D 'G-#,?.G*#i ./+ X#?#* H P W.*@.&3'/ &#("/3M@#- 1', 8"3(" &"# *'8#-& *#?#* 3/F@& &".& 3- -3>/313(./& &' &"# 1.3, ?.*@# =#.-@,#=#/& 3- @/'G-#,?.G*#; P', .--#&- ./+ *3.G3*3&3#- &".& .,# ,#('>/3C#+ 3/ &"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- '/ . ,#(@,,3/> G.-3-9 &"# 4,'@F +#&#,=3/#- 8"#&"#, &,./-1#,- ".?# '((@,,#+ G#&8##/ X#?#*- 3/ &"# "3#,.,("D GD ,#U.--#--3/> (.&#>',3C.&3'/ ^G.-#+ '/ &"# *'8#-& *#?#* 3/F@& &".& 3- -3>/313(./& &' &"# 1.3, ?.*@# =#.-@,#=#/& .- . 8"'*#_ .& &"# #/+ '1 #.(" ,#F',&3/> F#,3'+;
!"#$%"&''()*!
U IL U
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
!"# 4,'@F (*.--313#- 3&- 13/./(3.* 3/-&,@=#/&- 3/ &"# 1'**'83 /> (.&#>',3#-d 13/./(3.* .--#&- ./+ 13/./(3.* *3.G3*3&3#- .& PWOX9 *'./- ./+ ,#(#3?.G*#-9 "#*+U&'U=.&@,3&D ^m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gR&"#, /'/(@,,#/& .--#&-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/_ ./+ 6P% 13/./(3.* .--#&-; !"# 4,'@FS- 13/./(3.* *3.G3*3&3#- 3/(*@+# &,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#- ^#N(*@+3/> F.D.G*# &' >'?#,/=#/& .>#/(3#- ./+ (@-&'=#,-S +#F'-3&-_9 -"',&U&#,= *'./-9 (@,,#/& ./+ /'/(@,,#/& 'G*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&-9 +3?3+#/+- F.D.G*# ./+ '&"#, *'/>U&#,= #=F*'D## G#/#13&-; 6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 &"# 4,'@F +'#- /'& ".?# ./D 13/./(3.* .--#& .& PWOX9 m!5 3/?#-&=#/&- ', +#,3?.&3?#- +#-3>/.&#+ .- "#+>3/> 3/-&,@=#/&-; 6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 &"# 4,'@F +'#- /'& ".?# 13/./(3.* *3.G3*3&3#- .& PWOX; !96/":9"). '"$/97"'"). ; !"# -@G-#M@#/& =#.-@,#=#/& '1 13/./(3.* .--#&- +#F#/+- '/ &"#3, (*.--313(.&3'/ .- 1'**'8-d 3+)$)%+$1 B//"./ $. 3QMN4 P3/./(3.* .--#&- .& PWOX 3/(*@+# 13/./(3.* .--#&- "#*+ 1', &,.+3/> ./+ 13/./(3.* .--#&- +#-3>/.&#+ @F'/ 3/3&3.* ,#('>/3&3'/ .- .& PWOX;
P3/./(3.* .--#&- .,# (*.--313#+ .- "#*+ 1', &,.+3/> 31 &"#D .,# .(M@3,#+ 1', &"# F@,F'-# '1 -#**3/> 3/ &"# /#., &#,=; 2#,3?.&3?#-9 3/(*@+3/> ./D -#F.,.&#+ +#,3?.&3?#-9 .,# .*-' (*.--313#+ @/+#, 13/./(3.*
!"#$%"&''()*!
U I[ U
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f-#&&*#+ 83&"3/ &8#*?# ='/&"- 1,'= ,#F',&3/> +.&#; R&"#,83-#9 &"#-# .,# (*.--313#+ .- /'/(@,,#/& .--#&-; P3/./(3.* .--#&- =.D G# +#-3>/.&#+ GD =./.>#=#/& .& 3/3&3.* ,#('>/3&3'/ .- .& PWOX 8"#/ ./D '1 &"# 1'**'83/> (,3&#,3. 3- =#&d
!"# +#-3>/.&3'/ #*3=3/.&#- ', -3>/313(./&*D ,#+@(#- &"# 3/('/-3-&#/& &,#.&=#/& &".& 8'@*+ '&"#,83-# .,3-# 1,'= =#.-@,3/> &"# .--#&- ', ,#('>/3C3/> >.3/- ', *'--#- '/ . +311#,#/& G.-3-i !"# .--#&- .,# F.,& '1 . >,'@F '1 13/./(3.* .--#&-9 13/./(3.* *3.G3*3&3#- ', G'&" 8"3(" .,# =./.>#+ ./+ &"#3, F#,1',=./(# .,# #?.*@.&#+ '/ . 1.3, ?.*@# G.-3-9 3/ .((',+./(# 83&" . +'(@=#/&#+ ,3-) =./.>#=#/& ', 3/?#-&=#/& -&,.&#>Di ', !"# 13/./(3.* 3/-&,@=#/& ('/&.3/- ./ #=G#++#+ +#,3?.&3?#9 @/*#-- &"# #=G#++#+ +#,3?.&3?# +'#- /'& -3>/313(./&*D ='+31D &"# (.-" 1*'8- ', 3& 3- (*#.,9 83&" *3&&*# ', /' ./.*D-3-9 &".& 3& 8'@*+ /'& G# -#F.,.&#*D ,#(',+#+;
N&$)/ $)2 O"%"+P$61"/; X'./- ./+ ,#(#3?.G*#- .,# /'/U+#,3?.&3?# 13/./(3.* .--#&- 83&" 13N#+ ', +#&#,=3/.G*# F.D=#/&- &".& .,# /'& M@'&#+ 3/ ./ .(&3?# =.,)#&; 61&#, 3/3&3.* =#.-@,#=#/&9 -@(" 13/./(3.* .--#&- .,# -@G-#M@#/&*D =#.-@,#+ .& .=',&3C#+ ('-& @-3/> &"# #11#(&3?# 3/&#,#-& =#&"'+ ^A:Q_9 *#-- 3=F.3,=#/&; 6=',&3C#+ ('-& 3- (.*(@*.& #+ GD &.)3/> 3/&' .(('@/& ./D +3-('@/& ', F,#=3@= '/ .(M@3-3&3'/ ./+ 1## ', ('-&- &".& .,# ./ 3/&#>,.* F.,& '1 &"# A:Q; !"# #11#(&3?# 3/&#,#-& .=',&3C.&3'/ 3- 3/(*@+#+ 3/ 3/&#,#-& 3/('=# 3/ F,'13& ', *'--; !"# *'--#- .,3-3/> 1,'= 3=F.3,=#/& .,# ,#('>/3C#+ @/+#, g4#/#,.* ./+ .+=3/3-&,.&3?# #NF#/-#-h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
!"#$%"&''()*!
U IZ U
<*.--313(.&3'/ '1 P3/./(3.* :/-&,@=#/&- 0#&8##/ X3.G3*3&D . /+ AM@3&D 6 13/./(3.* 3/-&,@=#/& 3- (*.--313#+ .- *3.G3*3&D 31 3& F,'?3+#- 1', . ('/&,.(&@.* 'G*3>.&3'/ &'d
+#*3?#, (.-" ', ./'&"#, 13/./(3.* .--#& &' ./'&"#, #/&3&Di #N("./># 13/./(3.* .--#&- ', 13/./(3.* *3.G3*3&3#- 83&" ./'&"#, #/&3&D @/+#, ('/+3&3'/- &".& .,# F'&#/&3.**D @/1.?',.G*# &' &"# 4,'@Fi ', -.&3-1D &"# 'G*3>.&3'/ '&"#, &"./ GD &"# #N("./># '1 . 13N#+ .='@/& '1 (.-" ', ./'&"#, 13/./(3.* .--#& 1', . 13N#+ /@=G#, '1 '8/ #M@3&D -".,#-;
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d
&"# ,3>"&- &' ,#(#3?# (.-" 1*'8- 1,'= &"# .--#& ".?# #NF3,#+i ', &"# 4,'@F ".- &,./-1#,,#+ 3&- ,3>"&- &' ,#(#3?# (.-" 1*'8- 1,'= &"# .--#& ./+ #3&"#,d ^._ ".&,./-1#,,#+ -@G-&./&3.**D .** &"# ,3-)- ./+ ,#8.,+- '1 &"# .--#&9 ', ^G_ ".- /#3&"#, &,./-1#,,#+ /', ,#&.3/#+ -@G-&./&3.**D .** &"# ,3-)- ./+ ,#8.,+- '1 &"# .--#&9 G@& ".- &,./-1#,,#+ ('/&,'* '1 &"# .--#&;
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
!"#$%"&''()*!
U I] U
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gR&"#,- U /#&h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
l H$* S H+88"7")%"S; E"#,# &"# &,./-.(&3'/ F,3(# 3/ . /'/U.(&3?# =.,)#& 3- +311#,#/& 1,'= &"# 1.3, ?.*@# G.-#+ '/ '&"#, 'G-#,?.G*# (@,,#/& =.,)#& &,./-.(&3'/- 3/ &"# -.=# 3/-&,@=#/& ', G.-#+ '/ . ?.*@.&3'/ &#("/3M@# 8"'-# ?.,3.G*#- 3/(*@+# '/*D +.&. 1,'= 'G-#,?.G*# =.,)#&9 &"# 4,'@F ,#('>/3C#- &"# +311#,#/(# G#&8##/ &"# &,./-.(&3'/ F,3(# ./+ 1.3, ?.*@# ^. l2.D I +311#,#/(#S_ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 ('=F,#"#/-3?# 3/('=# @/*#-- 3& M@.*313#- 1', ,#('>/3&3'/ .- -'=# '&"#, &DF# '1 .--#&; :/ (.-#- 8"#,# @/'G-#,?.G*# +.&. 3- @-#+9 &"# +311#,#/(# G#&8##/ &"# &,./-.(&3'/ F,3(# ./+ ='+#* ?.*@# 3- ,#('>/3C#+ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 ('=F,#"#/-3?# 3/('=# '/*D
!"#$%"&''()*!
U I\ U
8"#/ &"# 3/F@&- G#('=# 'G-#,?.G*# ', 8"#/ &"# 3/-&,@=#/& 3- +#,#('>/3C#+; P', #.(" &,./-.(&3'/9 &"# 4,'@F +#&#,=3/#- &"# .FF,'F,3.&# =#&"'+ '1 ,#('>/3C3/> &"# l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j '1 &"# &'&.* ('-&; 6=',&3C.&3'/ #NF#/-# 3- -"'8/ .- gO,'>,.= ./+ '&"#, ,3>"&- @-.>#h 3/(*@+#+ @/+#, gO,'+@(&3'/ ('-&-h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gO,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/9 ,#F,#-#/& ('-&- F.3+ 3/ .+?./(# F,3', &' &"# .3,3/> '1 &"# F,'>,.=- ', #F3-'+#-; !"#-# ('-&- 3/(*@+# &.*#/& 1##- '1 .,&3-&- ./+ F,'+@(&3'/ -&.11 ./+ '&"#, ('-&- +3,#(&*D .&&,3G@&.G*# &' F,'+@(&3'/ '1 F,'>,.=-; !"#-# .,# (".,>#+ &' #NF#/-# @/+#, gO,'+@(&3'/ ('-&-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 ('=F,#"#/-3?# 3/('=# @F'/ .3,3/> '1 &"# ,#*.&#+ F,'>,.= ', #F3-'+#-; <'-&- ,#*.&#+ &' F,#?3'@-*D &.F#+ #F3-'+#- +#&#,=3/#+ /'& &' G# .3,#+ .,# (".,>#+ &' #NF#/-#; 5.&#,3.*- ./+ %@FF*3#- :/?#/&',D 5.&#,3.*- ./+ -@FF*3#- 3/?#/&',D9 3/(*@+#+ @/+#, gO,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&-h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
!"#$%"&''()*!
U Ia U
6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 &"# 4,'@FS- &.N (,#+3&- .,# (*.--313#+ .- (@,,#/& @/+#, gO,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/; 6--#& <*.--313#+ .- m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
!"# 4,'@FS- 3/?#-&=#/& 3/ 3&- .--'(3.&# .,# .(('@/&#+ 1', @-3/> &"# #M@3&D =#&"'+; 6/ .--'(3.&# 3- ./ #/&3&D 3/ 8"3(" &"# 4,'@F ".- -3>/313(./& 3/1*@#/(# ./+ 8"3(" 3- /#3&"#, . -@G-3+3.,D /', . T'3/& ?#/&@,#; e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e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d
4''+83** ,#*.&3/> &' ./ .--'(3.&# 3- 3/(*@+#+ 3/ &"# (.,,D3/> .='@/& '1 &"# 3/?#-&=#/&; m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
!"#$%"&''()*!
U JK U
!"# 4,'@F +3-('/&3/@#- &"# @-# '1 #M@3&D =#&"'+ 1,'= &"# +.&# 8"#/ 3& (#.-#- &' ".?# -3>/313(./& 3/1*@#/(# '?#, ./ .--'(3.&# ./+ .(('@/&- 1', &"# 3/?#-&=#/& 3/ .((',+./(# 83&" O6% Ha 1,'= &".& +. F,'?3+#+ &"# .--'(3.&# +'#- /'& G#('=# . -@G-3+3.,D ', . T'3/& .,,./>#=#/& .- +#13/#+ 3/ OPQ% II; e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gAM@3&D 3/ /#& #.,/3/>- ^*'--#-_ '1 ./ .--'(3.&# ./+ T'3/& ?#/&@,#-h9 8"3(" 3- &"# F,'13& ^*'--_ .&&,3G@&.G*# &' #M@3&D "'*+#,- '1 &"# .--'(3.&#; 5)."7"/./ +) X&+). Q").97"/; !"3- .(('@/& ('/-3-&- '1 3/&#,#-&- 3/ T'3/& ?#/&@,#-;
!"# 4,'@F ".- 3/&#,#-&- 3/ T'3/& ?#/&@,#-; 6 T'3/& ?#/&@,# 3- . T'3/& .,,./>#=#/& 8"#,#GD &"# F.,&3#- &".& ".?# T'3/& ('/&,'* '1 &"# .,,./>#=#/& ".?# ,3>"&- &' &"# /#& .--#&- '1 &"# .,,./>#=#/&-; `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eF'/ *'-- '1 T'3/& ('/&,'*9 &"# 4,'@F =#.-@,#- ./+ ,#('>/3C#- 3&- ,#=.3/3/> 3/?#-&=#/& .& 3&- 1.3, ?.*@#; 6/D +311#,#/(# G#&8##/ &"# (.,,D3/> .='@/& '1 &"# 1',=#, T'3/& ?#/&@,# @F'/ *'-- '1 T'3/& ('/&,'* ./+ &"# 1.3, ?.*@# '1 &"# ,#=.3/3/> 3/?#-&=#/& ./+ F,'(##+- 1,'= +3-F'-.* 3- ,#('>/3C#+ 3/ F,'13& ', *'--; E"#/ &"# ,#=.3/3/> 3/?#-&=#/& ('/-&3&@&#- -3>/313(./& 3/1*@#/(#9 3& 3- .(('@/&#+ 1', .- 3/?#-&=#/& 3/ ./ .--'(3.&#;
!"#$%"&''()*!
U JI U
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gQ#?.*@.&3'/ 3/(,#=#/& '/ *./+ U /#& '1 &.Nh .(('@/& @/+#, #M@3&D9 #N(#F& &' &"# #N&#/& &".& 3& ,#?#,-#- . ,#?.*@.&3'/ +#(,#.-# '1 &"# -.=# .--#& F,#?3'@-*D ,#('>/3C#+ 3/ F,'13& ', *'--9 3/ 8"3(" (.-#9 &"# 3/(,#.-# 3- ,#('>/3C#+ 3/ F,'13& ', *'--; 6 ,#?.*@.&3'/ +#13(3& 3- ,#('>/3C#+ 3/ F,'13& ', *'--9 #N(#F& &' &"# #N&#/& &".& 3& '11-#&- ./ #N3-&3/> -@,F*@- '/ &"# -.=# .--#& ,#('>/3C#+ 3/ &"# gQ#?.*@.&3'/ 3/(,#=#/& 3/ *./+ U /#& '1 &.Nh .(('@/&; 2#F,#(3.&3'/ ./+ .=',&3C.&3'/ .,# ('=F@&#+ '/ . -&,.3>"&U*3/# G.-3- '?#, &"# 1'**'83/> #-&3=.&#+ @-#1@* *3?#- '1 &"# .--#&-d 0@3*+3/>-9 &'8#,- ./+ 3=F,'?#=#/&6/&#//. ./+ &,./-=3&&#, -D-&#=- ./+ G,'.+(.-& #M@3F=#/& <'==@/3(.&3'/ ./+ =#("./3(.* #M@3F=#/& !,./-F',&.&3'/ #M@3F=#/& P@,/3&@,#9 13N&@,#- ./+ #M@3F=#/&
IIUJK D#.,[UIK D#.,HU[ D#.,LU[ D#.,[ D#.,-
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
!"#$%"&''()*!
U JJ U
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gR&"#, /'/(@,,#/& .--#&-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/9 3- -&.&#+ .& ('-& *#-- ./D 3=F.3,=#/& 3/ ?.*@#; %'1&8.,# <'-&<'-&- 3/(@,,#+ 3/ &"# .(M@3-3&3'/ ./+ (@-&'=3C.&3'/ '1 /#8 -'1&8.,#9 3/(*@+#+ @/+#, gR&"#, /'/(@,,#/& .--#&-h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e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
!"#$%"&''()*!
U JH U
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f', 1.3, ?.*@# '1 ('/-3+#,.&3'/- ,#(#3?#+ 3/ #N(#-- '1 F., ?.*@# .,# ,#('>/3C#+ ..++3&3'/.* F.3+U3/ (.F3&.*; Q#&.3/#+ #.,/3/>- 3/(*@+# .** (@,,#/& ./+ F,3', F#,3'+ ,#-@*&- '1 'F#,.&3'/- .- ,#F',&#+ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 ('=F,#"#/-3?# 3/('=#9 /#& '1 ./D +3?3+#/+ +#(*.,.&3'/; !,#.-@,D %&'() ./+ e/+#,*D3/> %".,#- '1 6(M@3,#+ O"3*3FF3/# 2#F'-3& Q#(#3F&- ^O2Q-_ !"# O.,#/& <'=F./DS- '8/ ,#.(M@3,#+ #M@3&D 3/-&,@=#/&- .,# +#+@(&#+ 1,'= #M@3&D; 7' >.3/ ', *'-- 3- ,#('>/3C#+ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 ('=F,#"#/-3?# 3/('=# '/ &"# F@,(".-#9 -.*#9 3--@./(# ', (./(#**.&3'/ '1 &"# 4,'@FS- '8/ #M@3&D 3/-&,@=#/&-; 23?3+#/+- '/ <'=='/ %".,#- '1 &"# O.,#/& <'=F./D 23?3+#/+- '/ ('=='/ -".,#- .,# ,#('>/3C#+ .- *3.G3*3&D ./+ +#+@(&#+ 1,'= #M@3&D 8"#/ .FF,'?#+ GD &"# 0R2 '1 &"# O.,#/& <'=F./D; 23?3+#/+- 1', &"# D#., &".& .,# .FF,'?#+ .1&#, ,#F',&3/> F#,3'+ .,# +#.*& 83&" .- ./ #?#/& .1&#, ,#F',&3/> F#,3'+; Q#?#/@#Q#?#/@#- .,# ,#('>/3C#+ &' &"# #N&#/& &".& 3& 3- F,'G.G*# &".& &"# #('/'=3( G#/#13&- 83** 1*'8 &' &"# 4,'@F ./+ &"# .='@/& (./ G# ,#*3.G*D =#.-@,#+9 ,#>.,+*#-- '1 8"#/ &"# F.D=#/& 3- G#3/> =.+#; Q#?#/@#- .,# =#.-@,#+ .& &"# 1.3, ?.*@# '1 &"# ('/-3+#,.&3'/ ,#(#3?#+ ', ,#(#3?.G*#9 &.)3/> 3/&' .(('@/& ('/&,.(&@.**D +#13/#+ &#,=- '1 F.D=#/& ./+ #N(*@+3/> &.N#- ', +@&D; !"# 4,'@F .--#--#3&- ,#?#/@# .,,./>#=#/&- .>.3/-& -F#(313( (,3&#,3. 3/ ',+#, &' +#&#,=3/# 31 3& 3- .(&3/> .- F,3/(3F.* ', .>#/&; !"# 4,'@F ".- ('/(*@+#+ &".& 3& 3- .(&3/> .- . F,3/(3F.* 3/ .** '1 3&- ,#?#/@# .,,./>#=#/&-; !"# 1'**'83/> -F#(313( ,#('>/3&3'/ (,3&#,3. =@-& .*-' G# =#& G#1',# ,#?#/@# 3- ,#('>/3C#+d B+7.+'" O"P")9"; Q#?#/@# 3- ,#('>/3C#+ .- 3/('=# 3/ &"# F#,3'+ &"# .+?#,&3-#=#/&- .,# .3,#+; %@(" ,#?#/@#- .,# /#& '1 ('UF,'+@(#,-S -".,#; !"# 1.3, ?.*@#- '1 (.F3&.*3C.G*# #N("./># +#.*- .,# 3/(*@+#+ 3/ .3,&3=# ,#?#/@# ./+ &"# ,#*.&#+ .(('@/&-; !"#-# &,./-.(&3'/- ,#F,#-#/& .+?#,&3-3/> &3=# #N("./>#+ 1', F,'>,.= =.&#,3.*-9 =#,("./+3-# ', -#,?3(#;
O.D=#/&- ,#(#3?#+ G#1',# G,'.+(.-& ^F.D G#1',# G,'.+(.-&_ .,# ,#('>/3C#+ .- 3/('=# '/ &"# +.&#&"# .+?#,&3-#=#/&- .,# .3,#+; O,3', &' *3M@3+.&3'/9 &"#-# .,# /#& '@& .>.3/-& '@&-&./+3/> .(('@/&,#(#3?.G*# -3/(# . ,3>"& '1 '11-#& #N3-&- G#&8##/ &"# F.D G#1',# G,'.+(.-& G.*./(# ./+ &"# ,#>@*., .(('@/&- ,#(#3?.G*# 83&" (,#+3& &#,=-; !"#-# .,# (*.--313#+ .- +#1#,,#+ *3.G3*3&D @/+#, g<@-&'=#,-S +#F'-3&-h 3/(*@+#+ @/+#, g!,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ 8"#/ /' ,3>"& '1 '11-#& #N3-&-;
!"#$%"&''()*!
U JL U
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
!"#$%"&''()*!
U J[ U
ANF#/-#ANF#/-#-9 F,#-#/&#+ .- gO,'+@(&3'/ ('-&-h ./+ g4#/#,.* ./+ .+=3/3-&,.&3?# #NF#/-#-h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
2#13/#+ G#/#13& ('-&- ('=F,3-# &"# 1'**'83/>d
%#,?3(# ('-& 7#& 3/&#,#-& '/ &"# /#& +#13/#+ G#/#13& 'G*3>.&3'/ ', .--#& Q#=#.-@,#=#/&- '1 /#& +#13/#+ G#/#13& 'G*3>.&3'/ ', .--#&
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gO#,-'//#* ('-&-h 3/(*@+#+ @/+#, g4#/#,.* ./+ .+=3/3-&,.&3?# #NF#/-#-h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
!"#$%"&''()*!
U JZ U
J'(1&*"" N"$P" J).+.1"'")./; A=F*'D## #/&3&*#=#/&- &' .//@.* *#.?# .,# ,#('>/3C#+ .- . *3.G3*3&D 8"#/ &"#D .((,@# &' &"# #=F*'D##-; !"# *3.G3*3&D ,#*.&3/> &' #=F*'D## *#.?# #/&3&*#=#/& 3,#('>/3C#+ 1', -#,?3(#- ,#/+#,#+ #M@3?.*#/& &' &"# =.N3=@= (,#+3& *#.?#- #.,/#+ GD &"# #=F*'D##9 8"3(" 3- #NF#(&#+ &' G# -#&&*#+ @F'/ &"# #=F*'D##S- ,#-3>/.&3'/ ', ,#&3,#=#/&; !"# F,#-#/& ?.*@# '1 &"# /'/(@,,#/& F',&3'/ '1 &"# *3.G3*3&D 3- +#&#,=3/#+ GD .FF*D3/> &"# +3-('@/& ,.&# G.-#+ '/ >'?#,/=#/& G'/+-;
X#.-#!"# +#&#,=3/.&3'/ '1 8"#&"#, &"# .,,./>#=#/& 3-9 ', ('/&.3/- . *#.-# 3- G.-#+ '/ &"# -@G-&./(# '1 &"# .,,./>#=#/& .& 3/(#F&3'/ +.&# '1 8"#&"#, &"# 1@*13**=#/& '1 &"# ., ,./>#=#/& +#F#/+- '/ &"# @-# '1 . -F#(313( .--#& ', .--#&- ', &"# .,,./>#=#/& ('/?#D- . ,3>"& &' @-# &"# .--#&; 6 ,#.--#--=#/& 3=.+# .1&#, &"# 3/(#F&3'/ '1 &"# *#.-#9 31 ./D9 31 &"# 1'**'83/> .FF*3#-d .; !"#,# 3- . ("./># 3/ ('/&,.(&@.* &#,=-9 '&"#, &"./ . ,#/#8.* ', #N&#/-3'/ '1 &"# .,,./>#=#/&i G; 6 ,#/#8.* 'F&3'/ 3- #N#,(3-#+ ', #N&#/-3'/ >,./&#+9 @/*#-- &"# &#,= '1 &"# ,#/#8.* ', #N&#/-3'/ 8.- 3/3&3.**D 3/(*@+#+ 3/ &"# *#.-# &#,=i (; !"#,# 3- . ("./># 3/ &"# +#&#,=3/.&3'/ '1 8"#&"#, 1@*13**=#/& 3- +#F#/+#/& '/ . -F#(313#+ .--#&i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
!"#$%"&''()*!
U J] U
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
2#1#,,#+ 3/('=# &.N .--#&- .,# ,#('>/3C#+ 1', .** +#+@(&3G*# &#=F',.,D +311#,#/(#-9 (.,,D1',8.,+ G#/#13&- '1 #N(#-- =3/3=@= (',F',.&# 3/('=# &.N ^5<:!_ '?#, ,#>@*., (',F',.&# 3/('=# &.N ^Q<:!_ ./+ @/@-#+ /#& 'F#,.&3/> *'-- (.,,D'?#, ^7RX.3/-& 8"3(" &"# +#+@(&3G*# &#=F',.,D +311#,#/(#- ./+ &"# (.,,D1',8.,+ G#/#13&- '1 #N(#-- 5<:! '?#, Q<:! ./+ @/@-#+ 7RX
8"#,# &"# +#1#,,#+ 3/('=# &.N .--#& ,#*.&3/> &' &"# +#+@(&3G*# &#=F',.,D +311#,#/(# .,3-#1,'= &"# 3/3&3.* ,#('>/3&3'/ '1 ./ .--#& ', *3.G3*3&D 3/ . &,./-.(&3'/ &".& 3- /'& . G@-3/#-('=G3/.&3'/ ./+9 .& &"# &3=# '1 &"# &,./-.(&3'/9 .11#(&- /#3&"#, &"# .(('@/&3/> F,'13& /', &.N.G*# F,'13&i ./+ 3/ ,#-F#(& '1 +#+@(&3G*# &#=F',.,D +311#,#/(#- .--'(3.&#+ 83&" 3/?#-&=#/&- 3/ -@G-3+3.,3#-9 .--'(3.&#- ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,#-9 +#1#,,#+ 3/('=# &.N .--#&- .,# ,#('>/3C#+ '/*D &' &"# #N&#/& &".& 3& 3- F,'G.G*# &".& &"# &#=F',.,D +311#,#/(#- 83** ,#?#,-# 3/ &"# 1',#-##.G*# 1@&@,# ./+ &.N.G*# F,'13& 83** G# .?.3*.G*# .>.3/-& 8"3(" &"# &#=F',.,D +311#,#/(#- (./ G# @&3*3C#+;
!"# (.,,D3/> .='@/& '1 +#1#,,#+ 3/('=# &.N .--#&- 3- ,#?3#8#+ .& #.(" ,#F',&3/> F#,3'+ ./+ ,#+@(#+ &' &"# #N&#/& &".& 3& 3- /' *'/>#, F,'G.G*# &".& -@113(3#/& &.N.G*# F,'13& 83** G# .?.3*.G*# &' .**'8 .** ', F.,& '1 &"# +#1#,,#+ &.N .--#&- &' G# @&3*3C#+; e/,#('>/3C#+ +#1#,,#+ 3/('=# &.N .--#&.,# ,#.--#--#+ .& #.(" ,#F',&3/> F#,3'+ ./+ .,# ,#('>/3C#+ &' &"# #N&#/& &".& 3& ".- G#('=# F,'G.G*# &".& 1@&@,# &.N.G*# F,'13& 83** .**'8 &"# +#1#,,#+ 3/('=# &.N .--#&- &' G# ,#('?#,#+; 2#1#,,#+ 3/('=# &.N *3.G3*3&3#- .,# ,#('>/3C#+ 1', .** &.N.G*# &#=F',.,D +311#,#/(#-9 #N(#F&d
8"#,# &"# +#1#,,#+ 3/('=# &.N *3.G3*3&D .,3-#- 1,'= &"# 3/3&3.* ,#('>/3&3'/ '1 >''+83** '1 ./ .--#& ', *3.G3*3&D 3/ . &,./-.(&3'/ &".& 3- /'& . G@-3/#-- ('=G3/.&3'/ ./+9 .& &"# &3=# '1 &"# &,./-.(&3'/9 .11#(&- /#3&"#, &"# .(('@/&3/> F,'13& /', &.N.G*# F,'13&i ./+ 3/ ,#-F#(& '1 &.N.G*# &#=F',.,D +311#,#/(#- .--'(3.&#+ 83&" 3/?#-&=#/&- 3/ -@G-3+3.,3#-9 .--'(3.&#- ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,#-9 8"#,# &"# & 3=3/> '1 &"# ,#?#,-.* '1 &"# &#=F',.,D +311#,#/(#- (./ G# ('/&,'**#+ ./+ 3& 3- F,'G.G*# &".& &"# &#=F',.,D +311#,#/(#- 83** /'& ,#?#,-# 3/ &"# 1',#-##.G*# 1@&@,#;
2#1#,,#+ 3/('=# &.N .--#&- ./+ *3.G3*3&3#- .,# =#.-@,#+ .& &"# &.N ,.&#- &".& .,# #NF#(&#+ &' .FF*D &' &"# D#., 8"#/ &"# .--#& 3- ,#.*3C#+ ', &"# *3.G3*3&D 3- -#&&*#+9 G.-#+ '/ &.N ,.&#- ./+ &.N *.8- &' G# #/.(&#+ ', -@G-&./&3.**D #/.(&#+ .& &"# ,#F',&3/> F#,3'+;
!"#$%"&''()*!
U J\ U
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d
8"#,# &"# W6! 3/(@,,#+ '/ . F@,(".-# '1 .--#&- ', -#,?3(#- 3- /'& ,#('?#,.G*# 1,'= &"# &.N.&3'/ .@&"',3&D 9 3/ 8"3(" (.-# &"# &.N 3- ,#('>/3C#+ .- F.,& '1 &"# ('-& '1 .(M@3-3&3'/ '1 &"# .--#& ', .- F.,& '1 &"# #NF#/-# 3&#= .- .FF*3(.G*#i ./+ 8"#,# ,#(#3?.G*#- ./+ F.D.G*#- .,# -&.&#+ 83&" &"# .='@/& '1 W6! 3/(*@+#+;
!"# /#& .='@/& '1 W6! ,#('?#,.G*# 1,'=9 ', F.D.G*# &'9 &"# &.N.&3'/ .@&"',3&D 3- 3/(*@+#+ .- F.,& '1 gO,#F.3+ #NF#/-#- ./+ '&"#, (@,,#/& .--#&-h ', g!,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#-h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
!"#$%"&''()*!
U Ja U
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
L; 5?A>?`?DL>9 'DD;C>9?>A iC_A@8>9Z0 *Z9?@L98Z L>_ 'ZZC@J9?;>Z !"# F,#F.,.&3'/ '1 &"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&- ,#M@3,#- =./.>#=#/& &' =.)# T@+>=#/&-9 #-&3=.&#- ./+ .--@=F&3'/- &".& .11#(& .='@/&- ,#F',&#+ 3/ &"# ('/-'*3+.&#+ 13/./(3.* -&.&#=#/&./+ ,#*.&#+ /'&#- .& &"# #/+ '1 &"# ,#F',&3/> F#,3'+; m'8#?#,9 @/(#,&.3/&D .G'@& &"#-# T@+>=#/&-9 #-&3=.&#- ./+ .--@=F&3'/- ('@*+ ,#-@*& 3/ '@&('=#- &".& ,#M@3,# . =.&#,3.* .+T@-&=#/& &' &"# (.,,D3/> .='@/& '1 &"# .--#& ', *3.G3*3&D .11#(&#+ 3/ 1@&@,# F#,3'+-; `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nUO*.D R/*3/# 4.=#:/(',F',.&#+ ^nUO*.D_ =#& &"# (,3&#,3. &' G# (*.--313#+ .- "#*+ 1', -.*# 3/ JKIL 1', &"# 1'**'83/> ,#.-'/-d
nUO*.D 3- .?.3*.G*# 1', 3==#+3.&# -.*# ./+ (./ G# -'*+ 3/ 3&- (@,,#/& ('/+3&3'/; :O AU4.=#- W#/&@,#-9 :/(; ^:OA_ ./+ 475: ".?# . ,#(#/& .>,##=#/& 8"3(" F,'?3+#- &"# #N#(@&3'/ '1 &"# 'F&3'/ .>,##=#/& .- +3-(@--#+ 3/ 7'&# I[; R/ `@*D J\9 JKIL9 &"# 3/(,#.-# 3/ (.F3&.* -&'()- '1 :OA 3- .*,#.+D .FF,'?#+ GD &"# %A<; 6--#& (*.--313#+ .- "#*+ 1', -.*# .='@/&#+ &' b OJZ;LH =3**3'/ .- .& 2#(#=G#, HI9 JKIL ^-## 7'&# I[_;
:/ JKIH9 &"# 4,'@F (*.--313#+ 3&- 3/?#-&=#/& 3/ nUO*.D .- /'/(@,,#/& .--#&9 3/(*@+#+ @/+#, gR&"#, /'/(@,,#/& .--#&-h .(('@/& 3/ &"# JKIH ('/-'*3+.&#+ -&.&#=#/& '1 13/./(3.* F'-3&3'/ ^-## 7'&# I[_; 0&)/&1+2$.+&) &8 ").+.+"/ +) >?+%? .?" @7&9( ?&12/ 1"// .?$) '$`&7+.* &8 P&.+), 7+,?./4 !"# 4,'@F ('/-3+#,- &".& 3& ('/&,'*- Q456 7#&8',) #?#/ &"'@>" 3& '8/- *#-- &"./ [Kj '1 &"# ?'&3/> ,3>"&-; !"3- 3- G#(.@-# &"# 4,'@F 3- &"# -3/>*# *.,>#-& -".,#"'*+#, '1 Q456 7#&8',) 83&" . Laj #M@3&D 3/&#,#-&; !"# ,#=.3/3/> [Ij '1 &"# #M@3&D -".,#- 3/ Q456 7#&8',) .,# '8/#+ GD -#?#,.* F.,&3#-; %3/(# %#F&#=G#, J]9 Iaa[9 8"3(" 3- &"# +.&# '1 3/(',F',.&3'/ '1 Q456 7#&8',)9 &"#,# 3-
!"#$%"&''()*!
U HK U
/' "3-&',D '1 &"# '&"#, -".,#"'*+#,- ('**.G',.&3/> &' #N#,(3-# &"#3, ?'& #- ('**#(&3?#*D ', &' '@&?'&# &"# 4,'@F; B//"//+), X&+). 0&).7&1 &8 $) B77$),"'"). $)2 .?" Y*(" &8 B77$),"'").4 `'3/& ('/&,'* 3- &"# ('/&,.(&@.**D .>,##+ -".,3/> '1 ('/&,'* '1 ./ .,,./>#=#/&9 8"3(" #N3-&- '/*D 8"#/ +#(3-3'/- .G'@& &"# ,#*#?./& .(&3?3&3#- ,#M@3,# &"# @/./3='@- ('/-#/& '1 &"# F.,&3#- -".,3/> ('/&,'*; !"# 4,'@F .--#--#+ &".& 3& ".- T'3/& ('/&,'* 3/ .** 3&- T'3/& .,,./>#=#/&- GD ?3,&@# '1 . ('/&,.(&@.* .>,##=#/& 83&" '&"#, -".,#"'*+#,-; !"# 4,'@FS- T'3/& ?#/&@,#- ".?# -#F.,.&# *#>.* #/&3&D ./+ 3&- -&'()"'*+#,".?# ,3>"&- &' 3&- /#& .--#&-;
!"# (.,,D3/> ?.*@# '1 &"# 3/?#-&=#/&- 3/ T'3/& ?#/&@,#- .='@/&#+ &'bJI;a\ O =3**3'/ ./+ bIZ;ZL =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D ^-## 7'&# II_; O I("7$.+), N"$/"/ ; @7&9( $/ N"//""4 !"# 4,'@F ".- #/&#,#+ 3/&' ?.,3'@- *#.-# .>,##=#/&- .- . *#--##; !"# 4,'@F ".- +#&#,=3/#+9 G.-#+ '/ ./ #?.*@.&3'/ '1 &"# &#,=- ./+ ('/+3&3'/- '1 &"# .,,./>#=#/&-9 &".& &"# *#--',- ,#&.3/ .** &"# -3>/313(./& ,3-)- ./+ ,#8.,+- '1 '8/#,-"3F '1 &"# F,'F#,&3#- ./+ &"@- .(('@/&- 1', &"# ('/&,.(&- .- 'F#,.&3/> *#.-#-;
Q#/&.* #NF#/-# (".,>#+ &' 'F#,.&3'/- .='@/&#+ &' b\[[;IJ O =3**3'/9 b OaIa;La =3**3'/ ./+ b]\];\\ =3**3'/ 3/ JKIL9 JKIH9 ./+ JKIJ ,#-F#(&3?#*D ^-## 7'&# J]_; O Y$\ 07"2+./; !"# O.,#/& <'=F./D ".- +#&#,=3/#+ &".& &.N (,#+3&- #.,/#+ 1,'= .3,3/> '1 >'?#,/=#/& ('==#,(3.*- ./+ .+?#,&3-#=#/&- .,# ,#('>/3C#+ G.-#+ '/ &"# O.,#/& <'=F./DS1',#(.-& '1 3=F',&.&3'/ 1', &"# /#N& &8#*?# ^IJ_ ='/&"- 1,'= ,#F',&3/> F#,3'+ 3/ 8"3(" &"# &.N (,#+3&- 83** G# .FF*3#+ ./+ 8"#/ &"# .FF*3(.&3'/ 3- ,#.-'/.G*D (#,&.3/;
Q#?#/@# 1,'= &.N (,#+3&- ,#('>/3C#+ 3/ F,'13& ', *'-- .='@/&#+ &' b\K;KK O =3**3'/9 b OLL;\K =3**3'/ ./+ b OLK;KK =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D ^-## 7'&# JI_; 01$//+8+%$.+&) &8 N"$P" J).+.1"'")./ $/ 0977"). &7 -&)%977"). ; !"# 4,'@F .--#--#- &"# (*.--313(.&3'/ '1 3&- *#.?# #/&3&*#=#/&- .- #3&"#, (@,,#/& ', /'/(@,,#/& G.-#+ '/ &"# "3-&',3(.* #NF#,3#/(# '1 &"# '@&-&./+3/> *#.?# .?.3*#+;
R&"#, #=F*'D## G#/#13&- (*.--313#+ .- (@,,#/& 3/ g6((,@#+ F.D,'** . /+ &.*#/& 1##-h 3/(*@+#+ @/+#, g!,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#-h .(('@/& 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ .='@/&#+ &' b OI\;IL =3**3'/ ./+ b OI];JZ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D9 8"3*# '&"#, #=F*'D## G#/#13&- (*.--313#+ .- /'/(@,,#/& .='@/&#+ &' bJ[a;KI O =3**3'/ ./+ b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
!"#$%"&''()*!
U HI U
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bK;]J O =3**3'/9 b OK;\[ =3**3'/ ./+ b OH[;]a =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D ^-## 7'&# JH_; !,.+# ./+ '&"#, ,#(#3?.G*#-9 /#& '1 .**'8./(# 1', +'@G&1@* .(('@/&-9 .='@/&#+ &' b OL9ZH\;H\ =3**3'/ ./+ b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j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
O,'>,.= ./+ '&"#, ,3>"&- @-.># .='@/&#+ &' b OZLZ;Z\ =3**3'/9 O b[Z[;HZ =3**3'/ ./+ b OLZK;aL =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D ^-## 7'&# JJ_; O,'>,.= ./+ '&"#, ,3>"&-9 /#& '1 .((@=@*.&#+ 3=F.3,=#/& *'--9 .='@/&#+ &' O bI9Ia\;J] =3**3'/ ./+ bI9JKa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j '1 ('-& 3- ('/-3+#,#+ &' G# . -3>/313(./& +#(*3/# ./+ . +#(*3/# 1', . F #,3'+ '1 =',# &"./ IJ ='/&"- 3- ('/-3+#,#+ &' G# . F,'*'/>#+ +#(*3/#; !"3- +#&#,=3/.&3'/ '1 8".& 3-3>/313(./& ', F,'*'/>#+ ,#M@3,#- T@+>=#/&; :/ =.)3/> &"3- T@+>=#/&9 &"# 4,'@F #?.*@.&#-9 .='/> '&"#, 1.(&',-9 &"# /',=.* ?'*.&3*3&D 3/ -".,# F,3(# 1', M@'&#+ #M@3&3#-;
O,'?3-3'/ 1', 3=F.3,=#/& *'-- .='@/&#+ &' bI;H] O =3**3'/ 3/ JKIL ./+ b OI;K[ =3**3'/ #.(" 3/ JKIH ./+ JKIJ ^-## 7'&# JH_; !"# (.,,D3/> ?.*@# '1 6P% 13/./(3.* .--#&- .='@/&#+ &'bIJa;KJ O =3**3'/ ./+ b OIH[;[[ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D ^-## 7'&# IK_; J/.+'$.+), B11&>$)%" 8&7 5)P").&7* N&//"/4 !"# 4,'@F F,'?3+#- .**'8./(# 1', 3/?#/&',D *'--#8"#/#?#, &"# /#& ,#.*3C.G*# ?.*@# G#('=#- *'8#, &"./ ('-& +@# &' +.=.>#9 F"D-3(.* +#&#,3',.&3'/9 'G-'*#-(#/(#9 ("./>#- 3/ F,3(# *#?#*- ', '&"#, (.@-#-; !"# .**'8./(# .(('@/& 3- ,#?3#8#+ F#,3'+3(.**D &' ,#1*#(& &"# .((@,.&# ?.*@.&3'/ '1 &"# 3/?#/&',3#-;
!"#$%"&''()*!
U HJ U
!"# (.,,D3/> ?.*@# '1 =.&#,3.*- ./+ -@FF*3#- 3/?#/&',D .='@/&#+ &' bHK;IJ O =3**3'/ ./+ b[\;[\ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D ^-## 7'&# a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
!"#,# ".- G##/ /' ("./># 3/ &"# 4,'@FS- #-&3=.&# '1 @-#1@* *3?#- '1 3&- F,'F#,&D ./+ #M@3F=#/&9 -'1&8.,# ('-&- ./+ 3/?#-&=#/& F,'F#,&3#- 3/ JKIL ./+ JKIH; !'&.* +#F,#(3.&3'/ ./+ .=',&3C.&3'/ #NF#/-# 1', &"# D#.,- #/+#+ 2#(#=G#, HI9 JKIL9 JKIH ./+ JKIJ .='@/&#+ &' b O]]Z;[H =3**3'/9 b O]K[;LL =3**3'/9 ./+ b OZIK;KK =3**3'/9 ,#-F#(&3?#*D ^-## 7'&#- IJ9 IL9 JJ ./+ JH_; O"P$19$.+&) &8 N$)24 !"# 4,'@F #/>.>#- ./ .((,#+3&#+ .FF,.3-#, &' +#&#,=3/# &"# 1.3, ?.*@# '1 &"# *./+ @-#+ 3/ 'F#,.&3'/-; P.3, ?.*@# 3- +#&#,=3/#+ GD ,#1#,#/(# &' =.,)#&UG.-#+ #?3+#/(# .+T@-&#+ G.-#+ '/ (#,&.3/ #*#=#/&- '1 ('=F.,3-'/; !"# 1.3, ?.*@# .='@/& 8'@*+ +311#, 31 &"# 4,'@F =.+# +311#,#/& T@+>=#/&- ./+ #-&3=.&#- ', @&3*3C#+ . +311#,#/& G.-3- 1', +#&#,=3/3/> 1.3, ?.*@#;
W.*@.&3'/- 1,'= ./ .((,#+3&#+ .FF,.3-#, .,# F#,1',=#+ #?#,D 13?# D #.,- &' #/-@,# &".& &"# 1.3, ?.*@# '1 . ,#?.*@#+ .--#& +'#- /'& +311#, =.&#,3.**D 1,'= 3&- (.,,D3/> .='@/&; !"# ,#?.*@#+ .='@/& '1 *./+ .='@/&#+ &' bI9]aa;]I O =3**3'/ ./+ b OI9\K[;HK =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D ^-## 7'&# IH_; 5'($+7'"). &8 -&)8+)$)%+$1 B//"./4 P', F,#F.3+ F,'+@(&3'/ ('-&-9 &.N (,#+3&-9 3/?#-&=#/&- ./+ .+?./(#-9 F,'F#,&D ./+ #M@3F=#/&9 3/?#-&=#/& F,'F#,&3#-9 F,'>,.= ./+ '&"#, ,3>"&-9 3/?#-&=#/& 3/ .,&8',)- ./+ -'1&8.,# ('-&-9 3=F.3,=#/& &#-&3/> 3- F#,1',=#+ 8"#/#?#, #?#/&- ', ("./>#- 3/ (3,(@=-&./(#- 3/+3(.&# &".& &"# (.,,D3/> .='@/& '1 ./ .--#& =.D /'& G# ,#('?#,.G*#;
!"# 1.(&',- &".& &"# 4,'@F ('/-3+#,- 3=F',&./& 8"3(" ('@*+ &,3>>#, ./ 3=F.3,=#/& ,#?3#8 3/(*@+# &"# 1'**'83/>d
-3>/313(./& @/+#,F#,1',=./(# ,#*.&3?# &' #NF#(&#+ "3-&',3(.* ', F,'T#(&#+ 1@&@,# 'F#,.&3/> ,#-@*&-i -3>/313(./& ("./>#- 3/ &"# =.//#, '1 @-# '1 &"# .(M@3,#+ .--#&- ', &"# -&,.&#>D 1', '?#,.** G@-3/#--i ./+ -3>/313(./& /#>.&3?# 3/+@-&,D ', #('/'=3( &,#/+-;
!"#$%"&''()*!
U HH U
!"# 4,'@F ,#('>/3C#- ./ 3=F.3,=#/& *'-- 8"#/#?#, &"# (.,,D3/> .='@/& '1 ./ . --#& #N(##+- 3&,#('?#,.G*# .='@/&; !"# ,#('?#,.G*# ,#('?#,.G*# .='@/& 3- &"# >,#.&#, '1 1.3, ?.*@# *#-- ('-&('-&- &' -#** ./+ &"# .--#&S- ?.*@# 3/ @-#; Q#('?#,.G*# .='@/&.='@/&- .,# #-&3=.&#+ 1', 3/+3?3+@.* .--#&.--#&- ',9 31 3& 3- /'& F'--3G*#9 1', &"# <4e &' 8"3(" &"# .--#& G#*'/>-; O,'?3-3'/ 1', 3=F.3,=#/& *'-- '/ &"# .+?./(#- &' T'3/& ?#/&@,# 1', &"# D#., #/+#+ 2#(#=G#, HI9 H I9 JKIJ .='@/&#+ .='@/&# + &' bJ;ZI O bJ;ZI =3**3'/ =3**3 '/ ^-## 7'&# JH_; !"#,# 3- /' 3=F.3, =#/& 1', JKIL ./+ JKIH; !"# (.,,D3/> ?.*@#- '1 /'/13/./(3.* .--#&- .- .& 2#(#=G#, HI 1'**'8d O,'F#,&D ./+ #M@3F=#/& ^7'&# IJ_ O,'>,.= ./+ '&"#, ,3>"&- ^7'&# \_ !.N (,#+3&- ^7'&# a_ O,#F.3+ F,'+@(&3'/ ('-&- ^7'&# a_ :/?#-&=#/&- ./+ .+?./(#- ^7'&# II_ :/?#-&=#/& F,'F#,&3#- ^7'&# IL_ %'1&8.,# ('-&- ^7'&# I[_ :/?#-&=#/& 3/ .,&8',)- ^7'&# I[_
JKIH "R#Y b OH9[\a9Z[I9]\I V [$0$ [$ 0$Q$ Q$0O 0O#R #R0Y 0Y"Q "Q bH9[\a9Z[I9]\I #0#NO0"QR0QRN I9JKa9JJa9J\I #O$0"Q!0"\\ II]9\LZ9IKJ \L9\JZ9]K] #QN0R\R0R!! #YQ0N$Q0!YY IHa9LZH9aH\ ZK9[HJ9JKa !O0O##0$R\ H]9Z[L9KL[ $!0N#Q0RN" IK9LKZ9J[[ #R0YR\0"!!
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b[\a;[L b[\a; [L =3**3'/ =3**3 '/ ./+ b[IH;Z[ O =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D9 8"3*# @/,#('>/3C#+ +#1#,,#+ &.N .--#&- . =' ='@/&#+ @/&#+ &' bJ\;KH O bJ\;KH =3**3'/ ./+ bJK;]H b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bI9IZI;J\ b OI9IZI;J \ =3**3'/ ./+ O bZK[;J[ b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
!"#$%"&''()*!
U HL U
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
[; 58A@8>9 1>`;<@L9?;> 0@-3/#-- %#>=#/&P', =./.>#=#/& F@,F'-#-9 &"# 4,'@F 3- ',>./3C#+ 3/&' G@-3/#-- @/3&- G.-#+ '/ 3&- F, '+@(&- ./+ -#,?3(#- ./+ ".- &",## ,#F',&.G*# -#>=#/&-9 .- 1'**'8-d
!"# &#*#?3-3'/ &#*#?3-3'/ ./+ ,.+3' -#>=#/&9 -#>=#/&9 8"3(" #/>.>##/>.>#- 3/ &#*#?3-3'/ ./+ ,.+3' G,'.+(.-&3/> G,'.+(.-&3/> .(&3?3&3#- ./+ 8"3(" >#/#,.&#- ,#?#/@# 1,'= -.*# '1 /.&3'/.* ./+ ,#>3'/.* .+?#,&3-3/> &3=#; !"# 3/&#,/.&3'/.* 3/&#,/.&3'/.* -@G-(,3F&3'/ -#>=#/& 8"3(" 8"3(" #/>.>#- 3/ -@G-(,3F&3'/ .,,./>#=#/&- 83&" 83&" 3/&#,/.&3'/.* (.G*# ('=F./3#-; R&"#, G@-3/#--#G@-3/#--#- 8"3(" 3/(*@+# ='?3# ='?3# F,'+@(&3'/9 ('/-@=#, ('/-@=#, F,'+@(&- ./+ '&"#, -#,?3(#-;
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e/3&#+ %&.&#- ./+ 3/ '&"#, *'(.&3'/- ^8"3(" 3/(*@+# 53++*# A.-&9 A@,'F#9 6@-&,.*3.9 <./.+.9 4@.=9 %3/>.F',#9 m'/>)'/> ./+ `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j ', =',# '1 &"# 4,'@FS- ,#?#/@#-;
!"#$%"&''()*!
U H[ U
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
!"#$%"&''()*!
U HZ U
0@-3/#-- %#>=#/& 2.&. +8K8B?Z?;> L>_ .L_?; '?<9?@8 JKIH "R#Y )89 .8B8>C8Z AN&#,/.* -.*#:/&#,U-#>=#/& -.*#-
.8ZCK9Z %#>=#/& ,#-@*& :/&#,#-& #NF#/-#- ./+ 13/./(3/> (".,># :/&#,#-& 3/('=# 1,'= G./) +#F'-3&- ./+ -"',&U&#,= 3/?#-&=#/& 7#& 1',#3>/ (@,,#/(D #N("./># >.3/- ^*'--#-_ AM@3&D 3/ /#& #.,/3/>- ^*'--#-_ '1 T'3/& ?#/&@,#R&"#, 3/('=# U /#& O,'?3-3'/ 1', 3/('=# &.N 7#& 3/('=#
'ZZ89Z L>_ X?LM?K?9?8Z %#>=#/& .--#& :/?#-&=#/& 3/ ./ .--'(3.&# ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,#- U .& #M@3&D 2#1#,,#+ 3/('=# &.N .--#&!'&.* .--#&
%#>=#/& *3.G3*3&3# 2#1#,,#+ 3/('=# &.N *3.G3*3&3#!'&.* *3.G3*3&3#
-9a8< 58A@8>9 1>`;<@L9?;> <.F3&.* #NF#/+3&@,#-d O,'>,.= ./+ '&"#, ,3>"&- ./+ -'1&8.,# ('-& O,'F#,&D ./+ #M@3F=#/& :/?#-&=#/& F,'F#,&3# 2#F,#(3.&3'/ ./+ .=',&3C.&3'/ 7'/(.-" #NF#/-#- '&"#, &"./ +#F,#(3.&3'/ ./+ .=',&3C.&3'/
JKIJ
1>98<>L9?;>LK 5CMZDZ JKIH "R#Y
OII9]H\9LLa9JZK b OIK9\J]9IJJ9J]a V[#0RQ! 0QNQ0O$\ V[#R0\Q\ 0\"\0!$# b c c I I OII9]H\9LLa9JZK b OIK9\J]9IJJ9J]a V[#0RQ! 0QNQ0O$\ V [#R0\Q\ 0\"\0!$# b
[ V!O $0Q! R0NY Y b$\0#$#0#Y"c
b OI9\IZ9aIH9[\L
b OI9]ZH9HLZ9KK[
JKIJ
b Oa[Z9JaH9ZKH [ V"$ R0Y\ $0NQ N c QQ"0ORN0!\R b Oa[Z9JaH9ZKH V[#0RR$ 0"Q$0!$N
[O" V Q0QO #0" Q!
b O [HI9IJZ9Z IK
b O[IH9]]H9JJZ
^[J9\ [J9L[I_
^LJ9]KZ9IJK_
I
c
c
O\N0RN!
b"Q0"QYc
#Y0QQ#0OYQ
Ia9J Z]9]LH
HH9ZHJ9IKK
I
c
c
^La9[ I[9ZHI_
^a9]\]9] ]I_
I
I]9HLK9J]H
^IH9HHZ9ZHZ_
c I ZZ9Z HH9KJ\ N#0O"Q0$\\ b#N"0$QQ0ORYc ^[H[9IZK9]K[_ OI9JZ[9J\[9[Z\ [ VYY O0ON \0"# $ b
c c I Z]9[Za9IK] c I ^[LK9]K]9\aK_ b"YO0$$Y0$O"c ^I[a9HH]9a\H_ b OI9J]I9HL[9LHI [!Q b O H\a9IJ\9a KK V N0YY \0O N$
b OII9Z[[9ZZ[9ZKJ b OII9Z[]9\LL9a]Z V[#0ORY 0!#Q0YQ!
H\9H [K9ZIa H\9H[K9ZIa $O0$!R0\#N I c c I I OII9ZaL9KIZ9JJI b OII9ZaZ9Ia[9[a[ V[#0ORY 0!#Q0YQ! V[#"0#YQ 0!#!0"$# b
V[!0"\# 0$Q"0YR# #N0\N\0$R# V[!0"O# 0R\O0QR"
b OH9\aK9J[a9ZIZ LI9[ \K9KI[ b OH9aHI9\Ha9ZHI
b O [\J9\ZH9KLI [ VOR "0N# #0\N Y Z[Z9JIa9KLH !\#0Y##0OQY I9\LZ9[Ia $0"NN0"QN #0Y"!0O\Y0$Y\ I9J\J9I]I9a\K c
"R#Y
b O a]]9\IJ9H Ia c b O a]]9\IJ9H Ia
b#"0NYY0NNOc
V[#"0#RN 0#\Y0\#"
c
b OH9aaa9Z\\9[KI ILL9J[K9HaK b OL9ILH9aH\9\aI
b O\Z\9]IZ9KL\ a[Z9I[[9JKK c I9K]a9] aK9ILL c
b OaHJ9L]]9a\I
c c b O I9HZ[9[I\9\JH
c "#0NQ\0Q#R c #YQ0YRR0QNN b OaHJ9L]]9a\I V[#0### 0OO!0$Q! b OJKK9aZZ9HIZ c b OJKK9aZZ9HIZ
b O IL 9J HJ 9a J[ I L9 HZ [9 Z[ a c [ 9 ]Z L9 ZZ Z
b O[H9LHJ9ZKH a 9\ HK 9K LL c Z 9L [[ 9Z aL
I
c
I I9 ]Z I9 LZ K
b O H] 9[ IJ 9J ]]
[ VN" \0!! "0OQ ! I [ VN" \0!! "0OQ !
V [#0 $#N0 Q\R #0R$"0""Y I #Y0"$Q0$"Q I
*K?@?>L9?;>Z JKIH
b OHKJ9[Ia9K\\ b Oc V [I aKa9]Z\9\LJ bQQ"0ORN0!\Rc ^]ZI9I[Z9][K_ b OI9JIJ9J\]9aHK ^O b ]ZI9I[Z9] [K_ bV [QQ"0OR N0!\Rc
JKIJ
2;>Z;K?_L98_ JKIH
"R#Y
JKIJ
b Oc V[##0NO" 0OOO0$Y\ b OIJ9a[K9\]a9HJJ b OIJ9K\[9aHL9a]K ^aKa9] Z\9\LJ_ c c I ^O baKa9]Z\9\LJ_ V[##0NO" 0OOO0$Y\ b OIJ9a[K9\]a9HJJ b OIJ9K\[9aHL9a]K
V [I
b Oc
I
c
c
L 9 ]J H9 KZ J
I 9 IK \9 ]] a
I
c
c
#!0\YR0NY"
JH9a aK9\K[
HL9] LK9\]a
\[ L9 H] Z
^ [H [9 aL \_
I
c
c
b#"0NQ"0"Q"c
^HI9H JK9a\J_
^JH9ZZK9H[[_
^[9HZJ9K[I_ a J\ 9K IZ ^I]9\ HJ9H[H_ b O JK9[ZK9[LL
c I ^ [L ]9 K[ ]_ b#OR0RRR0RRRc ^J[9JJa9I[Z_ Y!0RRR0RRR ^O bJK9HZa9J]K_ bV [#$!0RR R0RRRc
c c c b Oc
c ^[9HZJ9K[I_ !0$$O0Q\# ^ H9 KK K9 KK K_ Q\0\\\0NYQ Z]9[ ZI9KLL c bYYQ0N$Y0O$#c ^]IJ9HHI9KLI_ ^O bH9KKK9KKK_ V[#0RRN 0!#N0"YY b OI9Z]L9a][9KIJ
c ZL9KJJ9K[K ^ZaH9[]Z9aZK_ b OI9ZJK9]]J9\H]
b O \[H9LIZ9I\L
b OaLZ9JHa9Z\a bV[#0RY$0 !#"0"$$ c
^O b aHH9\KH9K \\_
^O ba\a9JK[9[[I_ V[#$0O#" 0\QQ0Q"R
IZ9Z H]9aLa \\9I [K9\ZJ b Oa[\9JKL9aa[
IK9KKK9KKK I \Z9[ ][9H\[ I b OI9KLJ9\I[9K]L bV[#0RY$ 0!#"0"$$ c
c c ^O b aHH9\KH9K \\_
c \R0$"Q0$"N [L9a \\9[Z\ L\9H[K9ZIa c #YQ0YRR0QNN \\9I [K9\ZJ \Z9[ ][9H\[ ^O ba\a9JK[9[[I_ V[#Y0R"R 0YR!0OYO b OIH9K\H9aHZ9a[I b OIJ9Z\J9J\H9Kaa
b O\Ha9IZ\9\IJ c b O\Ha9IZ\9\IJ
b OI9KZ\9J[[9LH\ c b OI9KZ\9J[[9LH\
bV [Q#$0R" R0Q"#c I bV [Q#$0R" R0Q"#c
^O b ]KI9KJK9Z a\_ c ^O b ]KI9KJK9Z a\_
^O b\\K9HKa9KLZ_ V[!0Q\Q 0!#Y0$Q$ c #N0\N\0$R# ^O b\\K9HKa9KLZ_ V[!0QOQ 0"#R0\QY
b O ZZ K9 I] \ J9KZ]9[J[ c IH9\ []9]]L
b OHH9[\H9]a[ IK9K[H9H]L c IJ9LJ\9L\J
bV [#!R0RR R0RRRc I I I
b Oc c c c
c
c
I
c
"R#Y
^ JK I9 ZI Z_
[ VNY "0!R Q0O\ \
b O[9KH[9]J\
JKIJ
^ J ZJ 9] \H _
b""Y0\!#c
c !0$$O0Q\# c #\Y0O$N0!O# ^IJ]9Z Ha9aIL_ b!"0"""0\Y!c b OH]J9]aZ9Z]Z [ V## \0#Q \0#$ O
b O I\\9\]Z9K J[ c b O I\\9\]Z9K J[
b O JHL9ZI]9]LH ]ZI9I[Z9][K b Oaa[9]]L9LaH
bV ["0 $N\0 Q"Nc
b O I9HZ[9[I\9\JH
["N V "0\R N0O #O I ["N V "0\R N0O #O
[ V\0 !$\0 OY" #0Y!"0$N$ I \0YQ$0NYN
-9a8< 7CZ?>8ZZ8Z JKIH
b Oc V[#0YRN 0#$!0YNR
b$\0$!!0QN$c
b OJ9H\[9[[J9L]I
^[H9I I[9JHL_
I
^LJ9aK]9]HZ_
b OIJ9aLK9]a]9[JI b OIJ9[L]9H[]9Ka[
b OL9JI]9J\H9][[ LI9[\K9KI[ b OL9J[\9\ZH9]]K
b Oc [ b O [a]9][Z9ILL V\\ R0Q\ O0"N \ c !\$0ON\0YN# Z]J9Z[J9JJ] c I9\LZ9[Ia $0"NN0"QN c #0YY\0!Q!0\"" I9HKI9]aL9LJK ^ I I9 ]Z I9 LZ K_
b OJ9J\J9I[L9a[a
c
b OL9H\\9ZKI9JKa ILL9J[K9HaK b OL9[HJ9\[I9[aa
b Oa[[9]HJ9LLZ a]Z9KH\9ZI\ c I9Ka\9Z ]L9HJK c
!"#$%"&''()*!
U H] U
4#'>,.F"3(.* %#>=#/& 2.&. X;DLK +8K8B?Z?;> L>_ C8Z AN&#,/.* -.*#:/&#,U-#>=#/& -.*#!'&.* /#& ,#?#/@#-
JKIJ
"R#Y
OII9]H\9LLa9JZK b OIK9\J]9IJJ9J]a [ V[#R0\Q\ 0\"\0!$# b V"$ R0Y\ $0NQ N c c QQ"0ORN0!\R I OII9]H\9LLa9JZK b OIK9\J]9IJJ9J]a V[#0RR$ 0"Q$0!$N V[#R0\Q\ 0\"\0!$# b
.8ZCK9Z %#>=#/& ,#-@*& :/&#,#-& #NF#/-#- ./+ 13/./(3/> (".,># :/&#,#-& 3/('=# 1,'= G./) +#F'-3&- ./+ -"',&U&#,= 3/?#-&=#/& 7#& 1',#3>/ (@,,#/(D #N("./># >.3/- ^*'--#-_ AM@3&D 3/ /#& #.,/3/>- ^*'--#-_ '1 T'3/& ?#/&@,#R&"#, 3/('=# U /#& O,'?3-3'/ 1', 3/('=# &.N 7#& 3/('=#
'ZZ89Z L>_ X?LM?K?9?8Z %#>=#/& .--#& :/?#-&=#/& 3/ ./ .--'(3.&# ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,#- U .& #M@3&D 2#1#,,#+ 3/('=# &.N .--#&!'&.* .--#&
%#>=#/& *3.G3*3&3# 2#1#,,#+ 3/('=# &.N *3.G3*3&3#!'&.* *3.G3*3&3#
-9a8< 58A@8>9 1>`;<@L9?;> <.F3&.* #NF#/+3&@,#-d O,'>,.= ./+ '&"#, ,3>"&- ./+ -'1&8.,# ('-& O,'F#,&D ./+ #M@3F=#/& :/?#-&=#/& F,'F#,&3# 2#F,#(3.&3'/ ./+ .=',&3C.&3'/ 7'/(.-" #NF#/-#- '&"#, &"./ +#F,#(3.&3'/ ./+ .=',&3C.&3'/
[ V!O $0Q! R0NY Y b$\0#$#0#Y"c
b OI9\IZ9aIH9[\L
b OI9]ZH9HLZ9KK[
^LJ9]KZ9IJK_
#Y0QQ#0OYQ
Ia9J Z]9]LH
HH9ZHJ9IKK
O\N0RN!
^La9[ I[9ZHI_
^a9]\]9] ]I_
b"Q0"QYc
c !0$$O0Q\# Z]9[Za9IK] #\Y0O$N0!O# ^[LK9]K]9\aK_ b!"0"""0\Y!c b OI9J]I9HL[9LHI [## V \0#Q \0# $O
b OII9Z[[9ZZ[9ZKJ b OII9Z[]9\LL9a]Z
H\9H [K9ZIa H\9H[K9ZIa "#0NQ\0Q#R $O0$!R0\#N c c #YQ0YRR0QNN I OII9ZaL9KIZ9JJI b OII9ZaZ9Ia[9[a[ V[#0### 0OO!0$Q! V[#"0#YQ 0!#!0"$# b
V[!0"\# 0$Q"0YR# #N0\N\0$R# V[!0"O# 0R\O0QR"
b OH9\aK9J[a9ZIZ LI9[ \K9KI[ b OH9aHI9\Ha9ZHI
b O [\J9\ZH9KLI [ VOR "0N# #0\N Y Z[Z9JIa9KLH !\#0Y##0OQY I9\LZ9[Ia $0"NN0"QN #0Y"!0O\Y0$Y\ I9J\J9I]I9a\K c
c
b OH9aaa9Z\\9[KI ILL9J[K9HaK b OL9ILH9aH\9\aI
b O\Z\9]IZ9KL\ a[Z9I[[9JKK c I9K]a9] aK9ILL c
[ V#0 $#N0 Q\R #0R$"0""Y I #Y0"$Q0$"Q I
"R#Y
*K?@?>L9?;>Z JKIH
JKIJ
2;>Z;K?_L98_ JKIH
"R#Y
JKIJ
b O[IH9]]H9JJZ
V [I
b Oc
c
c
I
c
c
I
c
c
#!0\YR0NY"
JH9a aK9\K[
HL9] LK9\]a
I
c
c
b#"0NQ"0"Q"c
^HI9H JK9a\J_
^JH9ZZK9H[[_
c c I ^ [L ]9 K[ ]_ c I ^J[9JJa9I[Z_ b"YO0$$Y0$O"c ^I[a9HH]9a\H_ ^O bJK9HZa9J]K_ [ b O H\a9IJ\9aKK V!Q N0YY \0ON $
c I c b#OR0RRR0RRRc ^IJ]9ZHa9aIL_ Y!0RRR0RRR b OH]J9]aZ9Z]Z bV [#$!0RR R0RRRc
c c c b Oc
c ^[9HZJ9K[I_ !0$$O0Q\# ^ H9 KK K9 KK K_ Q\0\\\0NYQ Z]9[ ZI9KLL c bYYQ0N$Y0O$#c ^]IJ9HHI9KLI_ ^O bH9KKK9KKK_ V[#0RRN 0!#N0"YY b OI9Z]L9a][9KIJ
c ZL9KJJ9K[K ^ZaH9[]Z9aZK_ b OI9ZJK9]]J9\H]
b O \[H9LIZ9I \L
b OaLZ9JHa9Z\a V[#0ORY 0!#Q0YQ!
b O I9HZ[9[I\9\JH
b OaHJ9L]]9a\I bV[#0RY$0 !#"0"$$ c
^O b aHH9\KH9K \\_
^O ba\a9JK[9[[I_ V[#$0O#" 0\QQ0Q"R
IZ9ZH]9aLa \\9I[K9\ZJ b Oa[\9JKL9aa[
IK9K KK9KKK I \Z9[][9H\[ I b OI9KLJ9\I[9K]L V[#0ORY 0!#Q0YQ!
c c b O I9HZ[9[I\9\JH
c I c I b OaHJ9L]]9a\I bV[#0RY$ 0!#"0"$$ c
c c ^O b aHH9\KH9K \\_
c \R0$"Q0$"N [L9a \\9[Z\ L\9H[K9ZIa c #YQ0YRR0QNN \\9I [K9\ZJ \Z9[ ][9H\[ ^O ba\a9JK[9[[I_ V[#Y0R"R 0YR!0OYO b OIH9K\H9aHZ9a[I b OIJ9Z\J9J\H9Kaa
b O\Ha9IZ\9\IJ c b O\Ha9IZ\9\IJ
b OI9KZ\9J[[9LH\ c b OI9KZ\9J[[9LH\
b O I\\9\]Z9KJ[ c b O I\\9\]Z9KJ[
b OJKK9aZZ9HIZ c b OJKK9aZZ9HIZ
bV [Q#$0R" R0Q"#c I bV [Q#$0R" R0Q"#c
^O b ]KI9KJK9Z a\_ c ^O b ]KI9KJK9Z a\_
^O b\\K9HKa9KLZ_ V[!0Q\Q 0!#Y0$Q$ c #N0\N\0$R# ^O b\\K9HKa9KLZ_ V[!0QOQ 0"#R0\QY
b O IL 9J HJ 9 aJ [ I L 9H Z[ 9 Z[ a c [ 9 ]Z L9 ZZ Z
b O[H9LHJ9ZKH a 9 \H K9 KL L c Z 9 L[ [9 Za L
bV [#!R0RR R0RRRc I I I
b Oc c c c
c
I I9 ]ZI 9L ZK
I
c
b O[9KH[9]J\ ^ JK I9 ZI Z _
L 9 ]J H9 KZ J
I 9I K\ 9] ]a
I
c
c
\ [ L9 H] Z
^ [H [9 aL \_
I
I]9H LK9J]H
^IH9HHZ9ZHZ_
^[9HZJ9K[I_ a J\ 9K IZ ^I]9\HJ9H[H_ b O JK9[ZK9[LL
[N" V \0!! "0O Q! I [N" V \0!! "0O Q!
b O [HI9IJZ9ZIK
^ J ZJ 9] \H _
b OHKJ9[Ia9K\\ V[#0RQ! 0QNQ0O$\ aKa9]Z\9\LJ I b OI9JIJ9J\]9aHK V[#0RQ! 0QNQ0O$\
JKIJ
I
1>98<>L9?;>LK 5CMZDZ JKIH "R#Y
[ VO" Q0QO #0"Q !
[NY V "0!R Q0O \\
b Oa[Z9JaH9ZKH b Oc V [I c bQQ"0ORN0!\Rc ^]ZI9I[Z9][K_ b Oa[Z9JaH9ZKH ^O b ]ZI9I[Z9] [K_ bV [QQ"0OR N0!\Rc
b O H] 9[ IJ 9J ]]
JKIJ
b O a]]9\IJ9H Ia c b O a]]9\IJ9H Ia
b""Y0\!#c
b#"0NYY0NNOc
V[#"0#RN 0#\Y0\#"
b O JHL9ZI]9]LH ]ZI9I[Z9][K b Oaa[9]]L9LaH
bV ["0 $N\0 Q"Nc
^[J9\ [J9L[I_
c I ZZ9Z HH9KJ\ N#0O"Q0$\\ b#N"0$QQ0ORYc ^[H[9IZK9]K[_ OI9JZ[9J\[9[Z\ [ VYY O0ON \0"# $ b
-9a8< 7CZ?>8ZZ8Z JKIH
b O ZZ K9 I] \ J9KZ]9[J[ c IH9\ []9]]L
b OHH9[\H9]a[ IK9K[H9H]L c IJ9LJ\9L\J
c
c
[ V"N "0\R N0O# O I [ V"N "0\R N0O# O
V [\0 !$\0 OY" #0Y!"0$N$ I \0YQ$0NYN I
b Oc V[##0NO" 0OOO0$Y\ b OIJ9a[K9\]a9HJJ b OIJ9K\[9aHL9a]K ^aKa9]Z\9\ LJ_ c c I ^O baKa9]Z\9\LJ_ V[##0NO" 0OOO0$Y\ b OIJ9a[K9\]a9HJJ b OIJ9K\[9aHL9a]K
b Oc V[#0YRN 0#$!0YNR
b$\0$!!0QN$c
b OJ9H\[9[[J9L]I
^[H9I I[9JHL_
I
^LJ9aK]9]HZ_
b OIJ9aLK9]a]9[JI b OIJ9[L]9H[]9Ka[
b OL9JI]9J\H9][[ LI9[\K9KI[ b OL9J[\9\ZH9]]K
b Oc [ b O [a]9][Z9ILL V\\ R0Q\ O0"N \ c !\$0ON\0YN# Z]J9Z[J9JJ] c I9\LZ9[Ia $0"NN0"QN c #0YY\0!Q!0\"" I9HKI9]aL9LJK ^ I I9 ]Z I9 LZ K_
b OJ9J\J9I[L9a[a
c
b OL9H\\9ZKI9JKa ILL9J[K9HaK b OL9[HJ9\[I9[aa
b Oa[[9]HJ9LLZ a]Z9KH\9ZI\ c I9Ka\9Z ]L9HJK c
!"#$%"&''()*!
U H\ U
Z; 2LZa L>_ 2LZa *]C?BLK8>9Z
<.-" '/ "./+ ./+ 3/ G./)%"',&U&#,= +#F'-3&-
"R#Y V [#0Y$N0#OR0Q\Q #!N0\YY0Q!$ V [#0!NO0O"!0!"R
JKIH b OI9LZ[9Z\L9]I] J\H9aLZ9L]a b OI9]La9ZHI9IaZ
<.-" 3/ G./)- #.,/ 3/&#,#-& .& &"# ,#-F#(&3?# G./) +#F'-3& ,.&#-; %"',&U&#,= +#F'-3&- .,# =.+# 1', ?.,D3/> F#,3'+- '1 @F &' &",## ='/&"- +#F#/+3/> '/ &"# 3==#+3.&# (.-" ,#M@3,#=#/&- '1 &"# 4,'@F9 ./+ #.,/ 3/&#,#-& .& &"# ,#-F#(&3?# -"',&U&#,= +#F'-3& ,.&#-; :/&#,#-& 3/('=#9 /#& '1 13/.* &.N9 #.,/#+ 1,'= G./) +#F'-3&- ./+ -"',&U&#,= 3/?#-&=#/&- .='@/&#+ &' b OI[;ZL =3**3'/9 O bJH;aa =3**3'/ ./+ b OHL;]L =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D;
]; +_ -9a8< .8D8?BLMK8Z "R#Y
!,.+#d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/ R&"#, 7'/&,.+#d 6+?./(#- &' -@FF*3#, 6+?./(#- &' '113(#,- ./+ #=F*'D##R&"#, X#-- .**'8./(# 1', +'@G&1@* .(('@/&-
[ V$0"NY0!YY0R!\ #0R$N0$N!0OQ# #QY0"$N0$NR
JKIH
b OJ9ZZa9J]\9aIZ ]]I9LaI9aJL ILZ9aJ]9\\a
$#Y0YRR0"!$ IHH9HH\9\]J L9ZJH9]IL Y0YY$0$O# Za9]L]9aK[ O\0RYQ0N"$ Y0N#$0RQR0OQY H9]a[9LKa9JJK "QY0\NY0"Q" J]H9a]\9]]] OH9[JI9LHK9LLH V [Y0\$O0$Q\0\R" b
!,.+# Q#(#3?.G*#Y"1"P+/+&) $)2 O$2+& B+7.+'"; !#*#?3-3'/ ./+ ,.+3' .3,&3=# ,#(#3?.G*#- .,# @/-#(@,#+9 /'/3/&#,#-&UG#.,3/> ./+ .,# >#/#,.**D '/ ZKUaK +.D &#,=- @F'/ ,#(#3F& '1 3/?'3(# GD &"# (@-&'=#,-; :/?'3(3/> /',=.**D &.)#- .,'@/+ HK +.D- 1,'= .3,3/>;
!#*#?3-3'/ ./+ ,.+3' .3,&3=# ,#(#3?.G*#- 3/(*@+# @/G3**#+ . 3,&3=# ,#(#3?.G*#-9 .,3-3/> 8"#/ .+?#,&3-#=#/&- ".?# G##/ .3,#+ G@& G3**3/> ', . ((#F&./(# GD &"# (@-&'=#, ".- G##/ +#*.D#+ +@# & ' &3=# *.> 3/ ('=F*#&3/> .** ,#M@3,#+ +'(@=#/&-; !#*#?3-3'/ ./+ ,.+3' .3,&3=# ,#(#3?.G*#- .,# F,#-#/&#+ /#& '1 .FF*3(.G*# F.D=#/&- ,#(#3?#+ G#1',# G,'.+(.-& .='@/&3/> &' bHJ;]\ O =3**3'/ ./+ b OJHK;JH =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D9 -3/(# . ,3>"& '1 '11-#& #N3-&- G#&8##/ &"# .+?./(# F.D=#/&- ./+ &"# ,#>@*., '@&-&./+3/> &,.+# ,#(#3?.G*#-;
!"#$%"&''()*!
U Ha U
R11-#&&3/> '1 P3/./(3.* 6--#&- ./+ X3.G3*3&3#-
O.D G#1',# G,'.+(.-& "R#Y JKIH
4,'-- 6='@/&- '1 Q#('>/3C#+ P3/./(3.* 6--#&V [$0$"Q0$"R0\\$ J9\aa9[II9H[]
4,'-- 6='@/&Q#('>/3C#+ P3/./(3.* X3.G3*3&3#bV [$"0QQ\0\RQc ^JHK9JHJ9LLI_
7#& 6='@/& O,#-#/&#+ 3/ &"# %&.&#=#/& '1 P3/./(3.* O'-3&3'/ V [$0"NY0!YY0R!\ J9ZZa9J]\9aIZ
!96/%7+(.+&)/ O"%"+P$61"; %@G-(,3F&3'/- ,#(#3?.G*# F#,&.3/ &' ,#(#3?.G*#- 1,'= 3/&#,/.&3'/.* (".//#* -@G-(,3F&3'/- ./+ .+?#,&3-#=#/&-; !"#-# .,# @/-#(@,#+9 /'/3/&#,#-&UG#.,3/> ./+ /',=.**D ('**#(&#+ 83&"3/ HKUZK +.D-; I.?"7 Y7$2" O"%"+P$61"/ ; R&"#, &,.+# ,#(#3?.G*#- .,# @/-#(@,#+9 /'/3/&#,#-&UG#.,3/> ./+ .,# >#/#,.**D '/ ZKUaK +.D &#,=- @F'/ ,#(#3F& '1 3/?'3(# GD &"# (@-&'=#,-;
7'/&,.+# Q#(#3?.G*# B2P$)%"/ .& !9((1+"7/; 6+?./(#- &' -@FF*3#,- .,# /'/3/&#,#-&UG#.,3/> ./+ .,# >#/#,.**D .FF*3#+ &' .(M@3-3&3'/ '1 3/?#/&',3#- ./+ 13N#+ .--#&- ./+ .?.3*=#/& '1 -#,?3(#- ./+ '&"#,- 83&"3/ &"# /#N& 13/./(3.* D#.,; B2P$)%"/ .& I88+%"7/ $)2 J'(1&*""/ $)2 I.?"7 -&).7$2" O"%"+P$61"/; 6+?./(#- &' '113(#,- ./+ #=F*'D##- ./+ '&"#, /'/&,.+# ,#(#3?.G*#- .,# /'/3/&#,#-&UG#.,3/> ./+ .,# /',=.**D ('**#(&#+ 83&"3/ &"# /#N& 13/./(3.* D#.,;
6**'8./(# 1', 2'@G&1@* 6(('@/&!"# ='?#=#/&- 3/ &"# .**'8./(# 1', +'@G&1@* .(('@/&- '/ &, .+# ,#(#3?.G*#- .,# .- 1'**'8-d "R#Y
0.*./(# .& G#>3//3/> '1 D#., O,'?3-3'/ 1', &"# D#., ^7'&# JH_ 0.*./(# .& #/+ '1 D#.,
+8K8B?Z?;> L>_ .L_?; '?<9?@8 V ["\N0OQ"0!QR I V ["\N0OQ"0!QR
-9a8
+;9LK
V [Y0#R\0"RQ Q#!0YN! V [Y0O"#0QR"
V ["Q$0NQO0QQQ Q#!0YN! V ["QY0\NY0"Q"
JKIH
0.*./(# .& G#>3//3/> '1 D#., O,'?3-3'/ 1', &"# D#., ^7'&# JH_ 0.*./(# .& #/+ '1 D#.,
!#*#?3-3'/ ./+ Q.+3' 63,&3=# bJZa9\]J9[]K O c b OJZa9\]J9[]K
R&"#,-
!'&.*
b OH9J[\9JKJ \L\9KK[ b OL9IKZ9JK]
b OJ]H9IHK9]]J \L\9KK[ b OJ]H9a]\9]]]
!"#$%"&''()*!
U LK U
!"# .**'8./(# 1', +'@G&1@* .(('@/&- 1', &#*#?3-3'/ ./+ ,.+3' .3,&3=# ./+ '&"#, ,#(#3?.G*#- 3/ JKIL ./+ JKIH .,# ,#-@*&- '1 -F#(313( ./+ ('**#(&3?# 3=F.3,=#/& .--#--=#/&- F#,1',=#+ GD &"# 4,'@F .1'**'8-d
:/+3?3+@.**D 3=F.3,#+ <'**#(&3?#*D 3=F.3,#+
"R#Y V ["YQ0ON"0O$R "\0OR#0YY" V ["QY0\NY0"Q"
JKIH b OJZK9[]K9a[K IH9LK]9\J] b OJ]H9a]\9]]]
6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 &"# .>3/> ./.*D-3- '1 ,#(#3?.G*#- &".& .,# /'& 3=F.3,#+ 1'**'8-d "R#Y +
7#3&"#, F.-& +@# /', 3=F.3,#+ O.-& +@# G@& /'& 3=F.3,#+d IUHK +.DHIUZK +.DZIUaK +.DaIUI\K +.DI\IUHZ[ +.DR?#, I D#.,
+8K8B?Z?;> L>_ .L_?; '?<9?@8 [ V "0#YR0#Y\0O!#
5CMZDZ V [YY$0QO#0Y\Y
-9a8
);>9
+;9LK V ["0QY\0QYN0$$$
"OO0!YQ0"\Q "##0\\!0RN" \#0NQ!0Y!" \!0QY\0!$$ #QY0$Q#0!R$ O"0"#O0QOO V [$0R"Y0\Q#0YO\
"$#0RQ"0\O" Y$0\\!0"NQ "N0QY\0""! !#0""R0OY$ #Y"0#Y"0\N# NQ0Q\\0\\N V [ #0R$N0$N!0OQ#
#O0R$N0NQO #Q0"YR0!O# Y0!"O0R\N \0$"Q0NYY Y0ON$0QOY $#0!NO0$\Q V [#\N0Y#Q0\OO
#0Y!"0\R# NOQ0#\N YYQ0#R! QRQ0QR! ORO0"\Q #R0R!\0YRY V [NR0YN#0$RY
!$N0##"0!"O "Q$0!!O0#$N N\0\N\0O!# #"Y0RR$0R"! $""0"#\0"Y! ""#0\YR0""O [ VY0$"$0NQ\0$YN
JKIH !,.+#
7#3&"#, F.-& +@# /', 3=F.3,#+ O.-& +@# G@& /'& 3=F.3,#+d IUHK +.DHIUZK +.DZIUaK +.DaIUI\K +.DI\IUHZ[ +.DR?#, I D#.,
!#*#?3-3'/ ./+ Q.+3' 63,&3=# O b I9HKL9Z\]9]]I
%@G-(,3F&3'/O bL]a9Z[a9aHK
R&"#,O b\\9ZJJ9Z]a
7'/&,.+#k O bLK9J[a9aZH
!'&.* O bI9aIH9JHK9HLH
J[a9ZLL9KIK IZZ9\\[9LZL aZ9\[Z9aaZ IKK9LZ[9L[a HIK9IHK9[ZJ IZK9]HZ9K\L b J9Haa9LKZ9HLZ O
L[9]J[9HLZ L\9K]L9Ia[ Ha9J\I9IKL ]9[JJ9LIJ aJ9K]]9Z[J [a9I[I9J\[ O b ]]I9LaI9aJL
IJ9I[a9JJH [9H[Z9JI[ I9aaL9IJJ H9IKa9[[H L9\H[9aL[ JZ9]LH9aL[ O bILJ9\JI9Z\J
L9[[Z9[JK J9aJ\9ZaI I9Zaa9][L I9]ZH9K]a [9LLJ9[IL I]9]JI9Ka\ O b]L9H]I9ZIa
HJJ9K\[9Kaa JJH9JLL9[Z[ IHa9\HI9a]Z IIJ9\ZK9[KH LIJ9L\Z9Z]H JZL9H[J9LIJ O bH9H\\9KaI9[]I
!,.+# ./+ '&"#, ,#(#3?.G*#- &".& .,# /'& 3=F.3,#+ .,# .--#--#+ GD &"# 4,'@FS- =./.>#=#/& .>''+ ./+ ('**#(&3G*#; !"# 4,'@FS- @/G3**#+ ,#(#3?.G*#- .='@/&#+ &' O bJ];Z[ =3**3'/ ./+ bJ];J\ O =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; !"#-# .,# 3/(*@+#+ 3/ &,.+# ,#(#3?.G*#- .- g/#3&"#, F.-& +@# /', 3=F.3,#+h G@& 83&" .># '1 HIUZK +.D- 1,'= +.&# '1 .3,3/>;
!"#$%"&''()*!
U LI U
\; V<;A_ -9a8< .?Aa9Z
V<;A_ H?K@ .?Aa9Z
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/E,3&#U'11 ^7'&# J[_ O,'>,.= ./+ '&"#, ,3>"&- @-.># ^7'&# JJ_ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ 3=F.3,=#/& 3/ ?.*@# U 0.*./(# .& G#>3//3/> ./+ #/+ '1 D#.,
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/O,'>,.= ./+ '&"#, ,3>"&- @-.># ^7'&# JJ_ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ 3=F.3,=#/& 3/ ?.*@# U 0.*./(# .& G#>3//3/> ./+ #/+ '1 D#.,
[ V#0#N!0$#\0### \$#0R$!0"OO b$0Y#Y0R##c b\$Q0\RY0#YQc #0#O!0$$$0"Y#
"R#Y 59;
+;9LK
[ V#\0\#!0Y$R O0#RR0N!R
c
[ V#0"##0N$#0!Y# \$N0#$\0"$O b$0Y#Y0R##c
bN0RQ\0\!"c #!0\$N0Q"O
b\Y\0\OR0QNNc #0"RR0NQ"0N\N
b"0QR"0"\Rc [#0#O"0\$R0NO# V
I [ V#!0\$N0Q"O
b"0QR"0"\Rc [ V#0#NO0"QR0QRN
O,'>,.= ./+ P3*= Q3>"&-
JKIH %&',D P',=.& Q3>"&-
!'&.*
O bI9IZI9H]Z9]KZ [H\9HZI9L]Z
O bHK9LZZ9JJL L]9K\L9\JZ
O bI9IaI9\LJ9aHK [\[9LLZ9HKJ
^[KL9LJJ9K]I_ I9Ia[9HIZ9III
^ZK9aH[9ZJK_ IZ9ZI[9LHK
^[Z[9H[]9ZaI_ I9JII9aHI9[LI
^J9]KJ9JZK_ bI9IaJ9ZIH9\[I O
c O bIZ9ZI[9LHK
^J9]KJ9JZK_ O bI9JKa9JJa9J\I
7' 3=F.3,=#/& *'--#- '/ F,'>,.= ./+ '&"#, ,3>"&- 8#,# ,#('>/3C#+ 3/ JKIL9 JKIH ./+ JKIJ;
a; V<8JL?_ *kJ8>Z8Z L>_ -9a8< 2C<<8>9 'ZZ89Z
!.N (,#+3& O,#F.3+ F,'+@(&3'/ ('-& <,#+3&.G*# 83&""'*+3/> &.N# :/F@& W6! O,#F.3+ #NF#/-# 5.&#,3.*- ./+ -@FF*3#- 3/?#/&',D U .& ('-& R&"#,
"R#Y V [#O$0"Q!0"\\ #QN0R\R0R!! #Q!0!YQ0#$$ #Y#0\RR0#QN Q!0QNR0N!! $R0##Q0NY$ Y$0\#R V [QO!0Y$!0#Y#
JKIH b OII]9\LZ9IKJ \L9\JZ9]K] I[K9]II9HH[ IL\9J\J9LHK ]L9\K[9]Ka [\9[]]9aII LH9ZIK b OZH[9KaH9\KL
!.N (,#+3&- ,#F,#-#/& (*.3=- '1 &"# O.,#/& <'=F./D 1,'= &"# >'?#,/=#/& .,3-3/> 1,'= .3,3/> '1 >'?#,/=#/& ('==#,(3.*- ./+ .+?#,&3-#=#/&-; !"# O.,#/& <'=F./D #NF#(&- &' @&3*3C# &"#-# &.N (,#+3&- 83&"3/ &"# /#N& 13/./(3.* D#.,;
!"#$%"&''()*!
U LJ U
O,#F.3+ F,'+@(&3'/ ,#F,#-#/&- ('-&- F.3+ 3/ .+?./(# F,3', &' &"# .3,3/> '1 &"# F,'>,.=- ', #F3-'+#-; !"# 4,'@F #NF#(&- &' .3, &"# ,#*.&#+ F,'>,.=- ', #F3-'+#- 83&"3/ &"# /#N& 13/./(3.* D#.,;O,#F.3+ #NF#/-#- 3/(*@+# F,#F.D=#/&- 1', ,#/&.*-9 3/-@,./(# ./+ '&"#, #NF#/-#-;
IK; 'BL?KLMK8P`;L>D?LK 'ZZ89Z
"R#Y
:/?#-&=#/&- 3/ -".,#- '1 -&'()d e/M@'&#+ B@'&#+
V [#""0#OY0RO# \0OYR0RRR V [#"N0R"Y0RO#
JKIH
b OIHK9ZZJ9[L\ L9\aK9KKK b OIH[9[[J9[L\
!"# @/M@'&#+ -".,#- .,# -&.&#+ .& ('-& .- &"#,# .,# /' ,#*3.G*# -'@,(#- ./+ G.-#- 1', -@G-#M@#/& 1.3, ?.*@# +#&#,=3/.&3'/; !"# ='?#=#/&- 3/ &"3- .(('@/& .,# .- 1'**'8-d
"R#Y
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/Q#+#=F&3'/ 7#& ("./># 3/ &"# 1.3, ?.*@# '1 6P% 13/./(3.* .--#& E,3&#U'11 0.*./(# .& #/+ '1 &"# D#., 6**'8./(# 1', +#(*3/# 3/ ?.*@#d 0.*./(# .& G#>3//3/> '1 D#., :=F.3,=#/& *'-- ^7'&# JH_ 0.*./(# .& #/+ '1 D#.,
V [#$Q0\!N0\YO I b!Q$0$Y$c
JKIH
b OIK]9Ha]9IL\ HI9[KJ9\KK c
^I9JLK9HKK_ "0#Y#0ROO c b\0Q"!0N#"c #$"0!R#0YO# IH]9Z[a9ZL\ "0#RQ0#RR #0$QR0$RR $0YQQ0YRR V [#"N0R"Y0RO#
I9K[H9[[K I9K[H9[[K J9IK]9IKK b OIH[9[[J9[L\
6- .& 2#(#=G#, HI9 JKIL9 6P% 13/./(3.* .--#&- .='@/&3/> &' bH;L\ O =3**3'/ ".?# G##/ 1@**D F,'?3+#+ 83&" .**'8./(# '/ .(('@/& '1 &"# 3/?#-&##S- (#--.&3'/ '1 'F#,.&3'/-; !"# ='?#=#/&- 3/ /#& @/,#.*3C#+ >.3/ '/ 6P% 13/./(3.* .--#&- .,# .- 1'**'8-d
0.*./(# .& G#>3//3/> '1 D#., 4.3/ ^*'--_ +@# &' ("./>#- 3/ 1.3, =.,)#& ?.*@# '1 6P% 13/./(3.* .--#& !.N #11#(& '1 &"# ("./>#- 3/ 1.3, =.,)#& ?.*@#-
"R#Y V [$0RO$0#OQ
"0#Y#0ROO b"RY0!RRc #0N$\0!OO V [!0R#N0QQ!
JKIH b OL9KZ[9aJ]
^I9JLK9HKK_ J[]9[ZK ^a\J9]LK_ b OH9K\H9I\]
!"#$%"&''()*!
U LH U
II; 1>B8Z9@8>9Z L>_ '_BL>D8Z P'**'83/> .,# &"# +#&.3*- '1 &"3- .(('@/& 3/ JKIL ./+ JKIHd
"R#Y
:/?#-&=#/& 3/ ./ .--'(3.&# ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,# O#,=./#/& .+?./(#- &' ./ .--'(3.&# ^7'&# JK_
[ V\R0$"Q0$"N OQ0\#R0"#! V [#YQ0N$Q0!YY
JKIH
b O[L9a\\9[Z\ \L9L][9H]K b OIHa9LZH9aH\
!"# ='?#=#/&- 3/ &"# .G'?# .='@/&- .,# .- 1'**'8-d
"R#Y
:/?#-&=#/& 3/ ./ .--'(3.&# ./+ 3/&#,#-&- 3/ T'3/& ?#/&@,#6(M@3-3&3'/ ('-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ #M@3&D 3/ /#& *'--#-d 0.*./(# .& G#>3//3/> '1 D#., AM@3&D 3/ /#& #.,/3/>- ^*'--#-_ +@,3/> &"# D#., 0.*./(# .& #/+ '1 D#., 6+?./(#- &' ./ .--'(3.&# 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/.* .+?./(#- +@,3/> &"# D#., ^7'&# JK_ 0.*./(# .& #/+ '1 D#., !'&.* 3/?#-&=#/&- ./+ .+?./(#
JKIH
b OIIa9]JJ9K[Z V [#$#0Q""0R!\ IJ9KKK9KKK I #$#0Q""0R!\ IHI9]JJ9K[Z bQ\0Q$$0YOOc
!0$$O0Q\# bQ#0$NY0Q"Qc \R0$"Q0$"N
^[9HZJ9K[I_ ^]Z9]HH9L\\_ [L9a\\9[Z\
OY0YQ!0$QR $0#$Y0OY! OQ0\#R0"#! V [#YQ0N$Q0!YY
^]I9H]I9LH]_
\L9L][9H]K c
\L9L][9H]K b OIHa9LZH9aH\
!"# '8/#,-"3F 3/&#,#-&- 3/ ./ .--'(3.&# ./+ T'3/& ?#/&@,#-9 8"3(" 8#,# .** 3/(',F',.&#+ 3/ &"# O"3*3FF3/#- ./+ .,# .(('@/&#+ 1', @/+#, &"# #M@3&D =#&"'+9 ('/-3-& '1 &"# 1'**'83/> .- .& 2#(#=G#, HI9 JKIL ./+ JKIHd O,3/(3F.* 6(&3?3&3#6--'(3.&# U 5'/&U63,# Q#.*&D ./+ 2#?#*'F=#/& <',F',.&3'/ ^5'/&U63,#_ `'3/& W#/&@,#-d :7B] :/&#,.(&3?#9 :/(; ^:7B]_ O"3*3FF3/# A/&#,&.3/=#/& O',&.* ^OAO_k 4.=#-F./9 :/(; ^4.=#-F./_k
O#,(#/&.># '1 R8/#,-"3F 23,#(& :/+3,#(&
Q#.* A-&.&#
La
c
:/&#,/#& O@G*3-"3/> :/&#,/#& O@G*3-"3/> 0#&&3/> 4.=#-
[K c c
c [K [K
<5)2+7"%. +)P"/.'"). .?7&9,? @-A54
!"#$%"&''()*!
U LL U
!"# (.,,D3/> ?.*@#- '1 3/?#-&=#/&- ./+ &"# ,#*.&#+ .+?./(#- .,# .- 1'**'8-d
1>B8Z9@8>9Z
6--'(3.&# U 5'/&U63,# `'3/& ?#/&@,#-d 4.=#-F./ OAO
V [$O0$!R0\#N
V [OQ0\#R0"#!
O0N!R0N$# #$0R"!0QQN V [\R0$"Q0$"N
I I
:/?#-&=#/&6--'(3.&# U 5'/&U63,# `'3/& ?#/&@,#-d 4.=#-F./ OAO
"R#Y '_BL>D8Z ^7'&# JK_
V [#"!0N\R0O$Y
V [OQ0\#R0"#!
JKIH 6+?./(#^7'&# JK_
b OH\9H[K9ZIa
b O\L9L][9H]K
\9\IH9I[a ]9\JL9]aK b[L9a\\9[Z\ O
c c
b O\L9L][9H]K
+;9LK
O0N!R0N$# #$0R"!0QQN V [#YQ0N$Q0!YY
!'&.* b OIJJ9\J[9a\a
\9\IH9I[a ]9\JL9]aK b OIHa9LZH9aH\
6** .--'(3.&#- ./+ T'3/& ?#/&@,#- .,# /'& *3-&#+ 3/ ./D F@G*3( -&'() #N("./>#-; OAO 6- .& 2#(#=G#, HI9 JKIJ9 &"# 4,'@F ".- @/,#('>/3C#+ -".,# 3/ /#& *'--#- '1 OAO .='@/&3/> &' bH;\Z =3**3'/; R/ 7'?#=G#, I[9 JKIH9 &"# 4,'@F9 &",'@>" 475:9 ('/?#,&#+ 3&- (.-" .+?./(#- &' O OAO .='@/&3/> &' b OIJ;KK =3**3'/ &' .++3&3'/.* 3/?#-&=#/& 3/ T'3/& ?#/&@,# ^-## 7'&# HJ_; 6- . ,#-@*&9 3/ JKIH9 &"# 4,'@F ,#('>/3C#+ -".,# 3/ /#& *'--#- .='@/&3/> &' bL;I] O =3**3'/ 8"3(" 3/(*@+#- &"# F,3', D#., @/,#('>/3C#+ *'--#-; :/ JKIL9 &"# 4,'@F ,#('>/3C#+ 3&- -".,# 3/ /#& #.,/3/>- '1 OAO .='@/&3/> &' b[;JK O =3**3'/; 4.=#-F./ R/ 5.,(" JJ9 JKIJ9 &"# 4,'@F9 &",'@>" 475:9 #N#(@&#+ . %".,#"'*+#,S- 6>,##=#/& 83&" 5./3*. `'()#D <*@G ^5`<_ 1', &"# #-&.G*3-"=#/& '1 4.=#-F./9 . T'3/& ?#/&@,# (',F',.&3'/; !"# T'3/& ?#/&@,# 8.- ',>./3C#+ &' 'F#,.&# ./+ =./.># &"# ".,+8.,# ./+ -'1&8.,# '8/#+ GD 5`<9 -#&U@F /#8 =#+3. 3/1,.-&,@(&@,# 1', '11#,3/> ./+ &.)3/> G#&- 3/ "',-# ,.(3/> ./+ '&"#, -F',&-; :/ JKIL ./+ JKIH9 &"# 4,'@F ,#('>/3C#+ 3&- -".,# 3/ /#& #.,/3/>- ./+ /#& *'--#- '1 4.=#-F./ .='@/&3/> &' O bK;IL =3**3'/ ./+ O bI;Ia =3**3'/9 ,#-F#(&3?#*D; :7B] X'--#- '1 :7B] ,#('>/3C#+ @/+#, &"# #M@3&D =#&"'+ 3/ #N(#-- '1 &"# 4,'@FS- 3/&#,#-& 8#,# .FF*3#+ .>.3/-& 3&- .+?./(#- &' &"# O.,#/& <'=F./D; :7B] (#.-#+ 'F#,.&3'/- 3/ JKK]; :/ JKIH9 :7B] -@G=3&&#+ . ,#M@#-& &' *3M@3+.&# 3&- .--#&- &' %A<;
!"#$%"&''()*!
U L[ U
5'/&U.3,# !"# &.G*# G#*'8 -"'8- &"# ('/+#/-#+ 13/./(3.* 3/1',=.&3'/ '1 5'/&U63,# .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*Dd <@,,#/& .--#& 7'/(@,,#/& .--#&-
b O[H9LZa9J]Z IK]9][K9J\H IZI9JIa9[[a I9JZa9I[L \I9Z\H9\HZ \J9a[J9aaK ]\9JZZ9[Za Laj bH\9H[K9ZIa O
<@,,#/& *3.G3*3&3# 7'/(@,,#/& *3.G3*3&3# 7#& .--#&O,'F',&3'/ '1 &"# 4,'@FS- '8/#,-"3F <.,,D3/> .='@/& '1 3/?#-&=#/&
5'/&U63,# (#.-#+ ('==#,(3.* 'F#,.&3'/- 3/ JKKa; 7'/(@,,#/& .--#&- 3/(*@+# F.,(#*- '1 *./+ 83&" ./ .>>,#>.&# 1.3, =.,)#& ?.*@# '1 b OII];\Z =3**3'/ +#&#,=3/#+ GD ./ .((,#+3&#+ .FF,.3-#, . - .& 2#(#=G#, IK9 JKIJ; !"#,# 8#,# /' ("./>#- 3/ &"# *./+ .(('@/& ./+ =./.>#=#/& #NF#(&- /' -3>/313(./& ("./># 3/ 1.3, ?.*@#;
IJ; V<;J8<9G L>_ *]C?J@8>9 L9 2;Z9 "R#Y
iL>CL
<'-&d 0@3*+3/>-9 &'8#,- ./+ 3=F,'?#=#/&6/&#//. ./+ &,./-=3&&#, -D-&#=- ./+ G,'.+(.-& #M@3F=#/& <'==@/3(.&3'/ ./+ =#("./3(.* #M@3F=#/& !,./-F',&.&3'/ #M@3F=#/& P@,/3&@,#9 13N&@,#- ./+ #M@3F=#/& 6((@=@*.&#+ 2#F,#(3.&3'/ ./+ 6=',&3C.&3'/d 0@3*+3/>-9 &'8#,- ./+ 3=F,'?#=#/&6/&#//. ./+ &,./-=3&&#, -D-&#=./+ G,'.+(.-& #M@3F=#/& <'==@/3(.&3'/ ./+ =#("./3(.* #M@3F=#/& !,./-F',&.&3'/ #M@3F=#/& P@,/3&@,#9 13N&@,#- ./+ #M@3F=#/& <'/-&,@(&3'/ 3/ F,'>,#-- ./+ #M@3F=#/& 1', 3/-&.**.&3'/
'__?9?;>ZS 48J<8D?L9?;> ^7'&#- JJ ./+ JH_
4?ZJ;ZLKZ .8DKLZZ?`?DL9?;>Z
48D8@M8< $#
[ V "0O#N0RRN0OQ"
[ VY! 0ON N0N OR
bV [ $0!\#0Q\Nc
[ V#\0\#"0#OR
[ V"0OQQ0N\R0"\$
!0Q!Q0\$#0ORQ N "Y0"#"0N\# Y Q" 0Q Y$0 Q$R #NR0RR"0!Y" #R0#\$0\RR0N#"
$RN0Y"$0"\Y N\0\O#0N$$ \ N0 $# N0! "Q N0RYN0#O " !$R0$Q$0OO\
bON0ON!0$RNc b!#R0!\Oc b! N0 RYY 0\$ Yc b"Q0YR$0$!Rc b#OR0Y#!0\$Rc
#!$0"QQ0O#\ "N0#NN0$N# # 0\ !N 0NN ! "0YR"0QO! "R$0#!"0#\Q
\0#$R0Y$Q0!QO #0RYN0!O$0Q#Q Y O Y0\ QO0 \#O #Q Y0R! #0#!N #R0Q#\0Q##0$$!
#0$Y$0R##0\!\
#$N0RO"0R"#
b#0NO"0"NOc
I
#0YOR0###0$QN
Y0"QQ0!NQ0\Q" Q"R0O!$0N$# "Q\0Y##0!!" #\#0$O"0#RO \0QQN0"!\0N#N
Y Y"0YY!0\ "\ N\0!!N0Y!Q O\0R##0#!O N0Y"R0!!\ QQ$0!#O0O#O
bO\0Q$$0Y\Rc bY!O0!Q"c b!O0#R\0O"Rc b"\0N#!0Y!$c b#QY0#N\0\R$c
I I I I I
Y0\$$0$RN0O$O O#\0N!Y0O#\ $RY0$#!0ONR #Y$0OOQ0"## Q0$QO0!QN0#$Y
I bV [ \0"#N0R"Qc
b"R$0#!"0#\Qc [ VI
$!0\QO0""\ [ V$0$Q$0O#R0Y"Q
"R!0$RQ0QOO [ $0!ON0\!#0QO# V
$$0!""0\R! bV ["RN0\""0$"Qc
`./@.,D I
6++3&3'/-f 2#F,#(3.&3'/ ^7'&#- JJ ./+ JH_
JKIH
<'-&d 0@3*+3/>-9 &'8#,- ./+ 3=F,'?#=#/&6/&#//. ./+ &,./-=3&&#, -D-&#=- ./+ G,'.+(.-& #M@3F=#/& <'==@/3(.&3'/ ./+ =#("./3(.* #M@3F=#/& !,./-F',&.&3'/ #M@3F=#/& P@,/3&@,#9 13 N&@,# - . /+ #M@3 F=#/&
b OJ9]]J9JHa9KLH
b OLL9[JH9KZ[
[9HI]9\HJ9LI [ \JJ9[JZ9aLI LI\9]IH9\ZZ IaI9HKH9L[Z a9[JJ9ZI[9]JI
LJJ9H]K9K \I IK]9ZJI9JLJ ]I9KIL9HKH [9aH[9\a H Z[I9LZL9[\L
23-F'-.*-
Q#(*.--313(.&3'/-
2#(#=G#, HI
b Oc
b OJ9JL]9]ZL
b OJ9\Ia9KKa9\]J
^L9\La9ILZ_ ^L9LZ]9\Z\_ ^IZ9a\L9LHa_ ^]9LKZ 9L]]_ ^HH9]K]9aHK_
JJ9J]\9L[] ^I9LZ]9H[L_ c IZa 9Z]K JH9JJ\9[H]
[9][]9ZHI9\K ] aJL9JIJ9aZI L]J9]LH9]HK IaK9KKJ9[LJ IK9IZH9ZKK9aIJ
^P',8.,+_
!"#$%"&''()*!
U LZ U
JKIH 6++3&3'/-f 2#F,#(3.&3'/ ^7'&#- JJ ./+ JH_
`./@.,D I 6((@=@*.&#+ 2#F,#(3.&3'/ ./+ 6=',&3C.&3'/d 0@3*+3/>-9 &'8#,- ./+ 3=F,'?#=#/&6/&#//. ./+ &,./-=3&&#, -D-&#=./+ G,'.+(.-& #M@3F=# /& <'==@/3(.&3'/ . /+ =#( "./3(.* #M@3 F=#/& !,./-F',&.&3'/ #M@3F=#/& P@,/3&@,#9 13 N&@,# - . /+ #M@3 F=#/& <'/-&,@(&3'/ 3/ F,'>,#-- ./+ #M@3F=#/& 1', 3/-&.**.&3'/
23-F'-.*-
Q#(*.--313(.&3'/-
2#(#=G#, HI
b Oc
b Oc
b OI9HLH9KII9Z[Z
b OI9JK]9]]J9aHJ
b OIH[9JH\9]JL
H9aKJ9ZH\9aL\ ZJZ9ZJZ9\KJ JIH9[HJ9LaL I[\9JJa9HL\ Z9IK\9\KK9[JL
H]a9\K]9\]K a \9Z\ K9aH [ ]]9\\I9J\\ I K9LZ a9aJ a ]KJ9K]\9]LZ
^L9\La9ILZ_ ^L9L[H 9\KZ_ ^I[9KKJ9JHK_ ^]9H\\ 9a]J_ ^HI9ZaL9I[L_
JK]9J]Z9\]a b H9ZJI9KaJ9K]Z O
JI9I\]9ZLH ^O bJa9LJZ9[Ia_
c ^O b J9KIH9]]Z_
c c c ]I 9\KH ]I9\KH
L9J]]9[a]9Z]J ]JK9\[H9aHI J]Z9LII9[[J IZI9H\J9IK\ Z9]]a9J[Z9aIa
^JH9I[Z9]HL_ JK[9HK]9]\\ b Oc b OH9[\a9Z[I9]\I
!"# .='@/& '1 +#F,#(3.&3'/ #NF#/-# 3/(*@+#- .=',&3C.&3'/ '1 F,#?3'@-*D (.F3&.*3C#+ G',,'83/> ('-&- .='@/&3/> &' b OIK;K\ =3**3'/ #.(" D#.,; 7' G',,'83/> ('-&- 8#,# (.F3&.*3C#+ 3/ JKIL ./+ JKIH; !"# ('-& '1 1@**D +#F,#(3.&#+ .--#&- -&3** @-#+ GD &"# 4,'@F .='@/&#+ &' bL9J[H;La O =3**3'/ ./+ bL9K[K;I\ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; O <'/-&,@(&3'/ 3/ F,'>,#-- F#,&.3/- &' &"# ('-&- 3/(@,,#+ 1', -3>/.* -&,#/>&"#/3/> '1 &,./-=3&&#,/.&3'/83+# ./+ ('/-&,@(&3'/f3=F,'?#=#/& '1 -&@+3'- ./+ -&.&3'/- 3/ &"# ,#>3'/-; 6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 /' F,'F#,&D ./+ #M@3F=#/& ".?# G##/ F*#+>#+ .- ('**.&#,.* ', -#(@,3&D 1', ./D '1 &"# 4,'@FS- *3.G3*3&3#-;
IH; XL>_ L9 .8BLKC8_ '@;C>9Z "R#Y
<'-& U 0.*./(# .& G#>3//3/> ./+ #/+ '1 D#., Q#?.*@.&3'/ 3/(,#=#/&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/- ^+#+@(&3'/-_ 0.*./(# .& #/+ '1 D#.,
V [$Y\0!R"0O#Q
JKIH
b OHLZ9[KJ9\I]
#0Y!O0QNQ0"$Y I9KZH9K\J9\\a b!0!OQ0#N$c Ha[9]IL9HL[ #0Y!$0"#R0RY# I9L[\9]a]9JHL OI9\K[9HKK9K[I V [#0QNN0Q#"0O!O b
X./+ @-#+ 3/ 'F#,.&3'/- 8.- *.-& .FF,.3-#+ '/ 2#(#=G#, I]9 JKIH GD ./ .((,#+3&#+ 13,= '1 .FF,.3-#,- ./+ 3- ?.*@#+ 3/ &#,=- '1 3&- "3>"#-& ./+ G#-& @-#; !"# b[;[a O =3**3'/ ,#+@(&3'/ 1,'= &"# .(('@/& ,#F,#-#/&- .+T@-&=#/& &' &"# F,#?3'@-*D ,#('>/3C#+ .FF,.3-.* 3/(,#.-# .1&#, ('=F*#&3'/ '1 &"# .--#& ,#('/(3*3.&3'/; !"# 1.3, ?.*@# 8.- .,,3?#+ .& &",'@>" &"# @-# '1 &"# g5.,)#& 2.&. 6FF,'.("h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
!"#$%"&''()*!
U L] U
6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 /' *./+ ".- G##/ F*#+>#+ .- ('**.&#,.* ', -#(@,3&D 1', ./D '1 &"# 4,'@FS- *3.G3*3&3#- ./+ &"# 4,'@F ".- /' ,#-&,3(&3'/- '/ &"# ,#.*3C.G3*3&D '1 3&- *./+ ./+ /' ('/&,.(&@.* 'G*3>.&3'/ &' F@,(".-#9 ('/-&,@(& ', +#?#*'F *./+ ', 1', ,#F.3,-9 =.3/&#/./(# ./+ #/"./(#=#/&-;
IL; 1>B8Z9@8>9 V<;J8<9?8Z
XL>_ L>_ 1@J<;B8@8>9Z
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/23-F'-.* E,3&#U'11 ^7'&# J[_ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ +#F,#(3.&3'/d 0.*./(# .& G#>3//3/> '1 D#., 2#F,#(3.&3'/ +@,3/> &"# D#., ^7'&# JH_ 23-F'-.* 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ 3=F.3,=#/& 3/ ?.*@# U 0.*./(# .& G#>3//3/> ./+ #/+ '1 D#., 0.*./(# .& #/+ '1 D#.,
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/E,3&#U'11 ^7'&# J[_ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ +#F,#(3.&3'/d 0.*./(# .& G#>3//3/> '1 D#., 2#F,#(3.&3'/ +@,3/> &"# D#., ^7'&# JH_ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ 3=F.3,=#/& 3/ ?.*@#d 0.*./(# .& G#>3//3/> '1 D#., E,3&#U'11 ^7'&# J[_ 0.*./(# .& #/+ '1 D#., 0.*./(# .& #/+ '1 D#.,
[ V$#0"OQ0OO# I b!Q\0RRRc b"#R0RRRc $R0!R#0OO#
"R#Y 7C?K_?>AZ L>_ 1@J<;B8@8>9Z [ VQ!0#!Y0O"R $0"NN0"QN b#0!Q!0RRRc I Q\0OQN0RNN
+;9LK [ V#R\0YY"0QR# $0"NN0"QN b"0#!#0RRRc b"#R0RRRc #RQ0$OR0NOR
I
YY0#R\0YY$
YY0#R\0YY$
I I I
$0RR\0NNY b$YQ0O#"c Y\0Q\!0\"!
$0RR\0NNY b$YQ0O#"c Y\0Q\!0\"!
I [ V$R0!R#0OO#
#0ORY0RYN [ V"O0$RN0Y"!
#0ORY0RYN [ V!O0O##0$R\
X./+ ./+ :=F,'?#=#/&-
JKIH 0@3*+3/>- ./+ :=F,'?#=#/&-
!'&.*
O bHH9a][9H\I c ^J9Z\]9[KK_ HI9J\]9\\I
O b]H9[Z[9[KI I9\LZ9[Ia ^J[]9JKK_ ][9I[L9\JK
O bIK]9[LK9\\J I9\LZ9[Ia ^J9aLL9]KK_ IKZ9LLJ9]KI
c
LK9]LL9HKL
LK9]LL9HKL
c c
H9HZJ9IHa LL9IKZ9LLH
H9HZJ9IHa LL9IKZ9LLH
c c c b OHI9J\]9\\I
J9KL[9I]H ^JLI9IJL_ I9\KL9KLa O bJa9JLL9HJ\
J9KL[9I]H ^JLI9IJL_ I9\KL9KLa O bZK9[HJ9JKa
!"# O.,#/& <'=F./D 8,'&# '11 -'=# '1 3&- 3/?#-&=#/& F,'F#,&3#- 83&" (.,,D3/> ?.*@# '1 b OK;JI =3**3'/ ./+ b OJ;]K =3**3'/ 3/ JKIL ./+ JKIH9 ,#-F#(&3?#*D9 +@# &' +3-F@&# 3/ '8/#,-"3F ^-## 7'&# J[_;
!"#$%"&''()*!
U L\ U
<#,&.3/ F,'F#,&3#- 8#,# F,'?3+#+ 83&" .**'8./(# 1', 3=F.3,=#/& 3/ F,3', D#.,-; 5./.>#=#/& G#*3#?#- &".& &"# (.,,D3/> ?.*@#- .1&#, 3=F.3,=#/& .FF,'N3=.&# 3&- ,#('?#,.G*# ?.*@#-; !"# 1.3, =.,)#& ?.*@# '1 3/?#-&=#/& F,'F#,&3#- '8/#+ GD &"# 4,'@F .='@/&#+ &'bIH[;Ha O =3**3'/ ./+ b OIHH;Z] =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D9 .- +#&#,=3/#+ GD .((,#+3&#+ .FF,.3-#,-; !"# 1.3, ?.*@# 8.- .,,3?#+ .& &",'@>" &"# @-# '1 &"# g5.,)#& 2.&. 6FF,'.("h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d
"R#Y
Q#/&.* 3/('=# +#,3?#+ 1,'= 3/?#-&=#/& F,'F#,&3#^7'&# J[_ 23,#(& 'F#,.&3/> #NF#/-#- 1', 3/?#-&=#/& F,'F#,&3#-
V ["0NN!0\#!
b$0RR\0NNYc bV [##0$QNc
JKIH
JKIJ
b OJ9aLJ9LI]
b OH9H\J9[Z[
^H9ZL]9JZH_ ^O b]KL9\LZ_
^H9I][9[KK_ b OJK]9KZ[
6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 /' 3/?#-&=#/& F,'F#,&3#- ".?# G##/ F*#+>#+ .- ('**.&#,.* ', -#(@,3&D 1', ./D '1 &"# 4,'@FS- *3.G3*3&3#- ./+ &"# 4,'@F ".- /' ,#-&,3(&3'/ '/ &"# ,#.*3C.G3*3&D '1 3&3/?#-&=#/& F,'F#,&3#- ./+ /' ('/&,.(&@.* 'G*3>.&3'/ &' F@,(".-#9 ('/-&,@(& ', +#?#*'F 3/?#-&=#/& F,'F#,&3#- ', 1', ,#F.3,-9 =.3/&#/./(# ./+ #/"./(#=#/&-;
I[; -9a8< );>DC<<8>9 'ZZ89Z
%'1&8.,# ('-& 2#1#,,#+ 3/F@& W6! Q#1@/+.G*# +#F'-3& 4@.,./&## +#F'-3& :/?#-&=#/& 3/ .,&8',) W3+#' ,3>"&- ./+ '&"#, /'/(@,,#/& .--#&:/?#-&=#/& 3/ nUO*.D
"R#Y [ V$!0N#Q0RN" $#0$OQ0#\\ #N0N#$0$YQ #Q0#\"0Q\Y #R0YR\0"!! #0!O#0Q\! I
V [##\0$\O0$ON
JKIH b OH]9Z[L9KL[ HI9aKI9\IH I[9Z]I9HKK IZ9\]I9IaK IK9LKZ9J[[ H9K\a9]ZI JZ9LHJ9L]J b OILJ9KJZ9\HZ
!"#$%"&''()*!
U La U
!"# ='?#=#/&- 3/ -'1&8.,# ('-&- 1'**'8d "R#Y
<'-&d 0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/ 0.*./(# .& #/+ '1 D#., 6((@=@*.&#+ .=',&3C.&3'/d 0.*./(# .& G#>3//3/> '1 D#., 6=',&3C.&3'/ +@,3/> &"# D#., ^7'&# JH_ 0.*./(# .& #/+ '1 D#.,
JKIH
V ["$Y0YQN0#\Y "#0\$"0R!O "!\0###0"""
b OJJJ9IZa9HJJ IJ9HKa9\LJ JHL9L]a9IZL
#N\0O"!0##N "$0$\N0R## ""R0#NY0#$R V [$!0N#Q0RN"
IZ[9\Ja9J][ HK9aa[9\LL IaZ9\J[9IIa b OH]9Z[L9KL[
nUO*.D 475: "'*+- [Kj #M@3&D 3/ nUO*.D R/*3/# 4.=#- :/(',F',.&#+ ^nUO*.D_; !"# '&"#, T'3/& ?#/&@,# F.,&/#, 3/ nUO*.D 3- :OA; 6& &"# &3=# '1 3/(',F',.&3'/ '1 nUO*.D9 475: ./+ :OA #.(" -@G-(,3G#+ &' I9KKK9KKK9KKK ('=='/ -".,#- '1 nUO*.DS- .@&"',3C#+ (.F3&.* -&'() 83&" . F., ?.*@# '1 bIKKf-".,#; O 6- +3-(@--#+ 3/ 7'&# L9 &"# 4,'@F9 &",'@>" 475:S- 0R29 .//'@/(#+ 3&- +#(3-3'/ &' +3-F'-# '1 3&-".,#"'*+3/>- 3/ nUO*.D '/ `./@.,D I9 JKII9 ./+ (*.--313#+ 3&- 3/?#-&=#/& 3/ nUO*.D .- .--#& "#*+ 1', -.*#; !"# (.,,D3/> ?.*@# '1 .--#& "#*+ 1', -.*# F,#?3'@-*D (*.--313#+ .- 3/&#,#-& ./+ .+?./(#- &' T'3/& ?#/&@,# .='@/&#+ &' b OJZ;LH =3**3'/; :/ ('//#(&3'/ 83&" &"# F*.//#+ +3-F'-.* '1 nUO*.D9 3/ 5.,(" JKIH9 475: ./+ :OA #N&#/+#+ @/&3* `@/# HK9 JKIH &"# #N#,(3-# F#,3'+ '1 &"# 'F&3'/ .>,##=#/& 8"3(" 8.- #/&#,#+ 3/&' GD G'&" ('=F./3#- '/ R(&'G#, Ia9 JKII; !"# 'F&3'/ .>,##=#/& -&.&#- &".& :OA >,./&- 475: &"# 'F&3'/ &' -#** .**9 G@& /'& *#-- &"./ .**9 '1 -".,#- 3/ -&'() '1 nUO*.D 1', . F @,(".-# F,3(# '1b][;KK O =3**3'/ 3/ (.-"; 6*-'9 '/ 5.,(" JH9 JKIJ9 475: .>,##+ &' -@G-(,3G# &' bIHK;KK O =3**3'/ 8',&" '1 -".,#- '1 :OAS- .@&"',3C#+ G@& @/3--@#+ (.F3&.* -&'() &' G# '11#,#+ '/ 3&- :/3&3.* O@G*3( R11#,3/> 3/ #N("./># 1', 475:S- -".,#- '1 -&'() 3/ nUO*.D .& . -@G-(,3F&3'/ F,3(# F#, -".,# #M@3?.*#/& &' &"# '11#,3/> F,3(#; 6- .& 2#(#=G#, HI9 JKIH9 &"# -.*# '1 3/?#-&=#/& 3/ nUO*.D ".- /'& =.&#,3.*3C#+; !"# 4,'@F ,#.--#--#+ &"# (*.--313(.&3'/ '1 3/?#-&=#/& 3/ nUO*.D ./+ ,#(*.--313#+ 3& @/+#, gR&"#, /'/(@,,#/& .--#&-h .(('@/& 3/ &"# 4,'@FS- JKIH ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/; !"# ,#(#/& .>,##=#/& F,'?3+#- &".& :OA 83** F,'?3+# 475: ./+ &"# O. ,#/& <'=F./D IK9KKK =3**3'/ ^475: U L9KKK =3**3'/i 47: U Z9KKK =3**3'/_ '1 :OA -".,#- 3/ #N("./># 1', 475:S3/?#-&=#/& 3/ nUO*.D ./+ &"# O.,#/& <'=F./DS- bHK;KK O =3**3'/ .+?./(#- ./+ b O[K;KK =3**3'/ .3,&3=# ,#(#3?.G*#- >,./&#+ &' nUO*.D; 6*-'9 &"# 3/(,#.-# 3/ .@&"',3C#+ (.F3&.* -&'() '1 :OA 3.*,#.+D .FF,'?#+ GD &"# %A< '/ `@*D J\9 JKIL9 &"@-9 &"# 4,'@FS- 3/?#-&=#/& 3/ nUO*.D 8.,#(*.--313#+ &' g6--#& (*.--313#+ .- "#*+ 1', -.*#h .(('@/& 3/ &"# JKIL ('/-'*3+.&#+ -&.&#=#/& '1 13/./(3.* F'-3&3'/;
!"#$%"&''()*!
U [K U
IZ; +_ -9a8< 2C<<8>9 X?LM?K?9?8Z
!,.+# F.D.G*# O.D.G*# &' >'?#,/=#/& .>#/(3#<@-&'=#,-S +#F'-3&- ^7'&# ]_ 6((,@#+ #NF#/-#-d O,'+@(&3'/ ('-& O.D,'** ./+ &.*#/& 1##- ^7'&# JZ_ <'==3--3'/ e&3*3&3#- ./+ '&"#, #NF#/-#R&"#,
"R#Y V [YY"0$Q"0$#Y Q#\0Y!"0ON" ""R0OQY0RN#
JKIH b OHa]9aaa9JZK [IH9H\K9Z\K LL]9IIJ9aKL
""\0"$$0\O\ #O$0N!\0$NY "Q0!$\0O#" OR0QR!0RY! $$0R!#0N!# V [#0N$#0#O$0#O!
I]H9JJ[9aH] II[9\J\9LIZ JI9K\K9Z]K LL9Z]Z9HZK Z\9IH]9J\I b OI9]\I9LLI9[K\
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
I]; 5a;<9P98<@ X;L>Z !"# O.,#/& <'=F./D 'G&.3/#+ @/-#(@,#+ -"',&U&#,= F#-' ./+ e% +'**., +#/'=3/.&#+ *'./- 1,'= ?.,3'@- *'(.* G./)- 1', &"# F.D=#/& '1 &"# +3?3+#/+- +#(*.,#+ +@,3/> &"# D#.,; 2#&.3*- ./+ ='?#=#/&- '1 &"# -"',&U&#,= *'./- .,# .- 1'**'8-d
0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/O.D=#/&P',#3>/ #N("./># *'-0.*./(# .& #/+ '1 D#.,
"R#Y [ V#0#R\0OQ!0RRR "0#N#0!!N0RRR b#0#R\0O"Y0RRRc $#0$!R0RRR [ V"0"""0N\R0RRR
JKIH b OI9]KK9KKK9KKK I9\J[9KKK9KKK ^J9[KK9KKK9KKK_ \I9\][9KKK b OI9IKZ9\][9KKK
!"# 3/&#,#-& ,.&# '1 &"# -"',&U&#,= *'./ ,./>#- 1,'= I;a[j &' J;J[j ./+ H;HKj &' L;KKj 1', F#-' *'./- ./+ I;Z\j &' I;]Hj ./+ I;]Hj 1', e% +'**., +#/'=3/.&#+ *'./- 3/ JKIL ./+ JKIH9 ,#-F#(&3?#*D; :/&#,#-& #NF#/-# ./+ '&"#, 13/./(3/> (".,>#- .='@/&#+ &'bHI;Z\ O =3**3'/9 bH];ZH =3**3'/ ./+ b O Oa;Z\ =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D;
!"#$%"&''()*!
U [I U
I\; -MK?AL9?;>Z `;< V<;A_ -9a8< .?Aa9Z !"3- .(('@/& ('/-3-&- '1d
<@,,#/& 7'/(@,,#/&
"R#Y V [##\0!$$0##Y !0#N$0""$ V [#"#0Q"\0$$Q
JKIH b OILI9KaZ9L[Z HH9HHK9IHK b OI]L9LJZ9[\Z
RG*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&- ,#F,#-#/& *3.G3*3&3#- &' 1',#3>/ ./+ *'(.* 13*= -@FF*3#,- 1', F,'>,.= ./+ '&"#, ,3>"&- F@,(".-#+ GD &"# 4,'@F; !"# (@,,#/& F',&3'/ '1 &"# 'G*3>.&3'/- 1', F,'>,.= ,3>"&- 3- /'/3/&#,#-&UG#.,3/> ./+ 3- >#/#,.**D F.D.G*# 3/ #M@.* ='/&"*D ', M@.,&#,*D 3/-&.**=#/&-; !"# .='@/&- F,#-#/&#+ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH ,#F,#-#/& &"# /'=3/.* .='@/&- '1 &"# 'G*3>.&3'/- 8"3(" .,# #NF#(&#+ &' G# -#&&*#+ 83&"3/ &"# /#N& IJ ='/&"-; !"# /'/(@,,#/& F',&3'/ '1 'G*3>.&3'/- 1', F,'>,.= ,3>"&- 3- F.D.G*# 3/ 1'@, D#.,- ./+ 3- F,#-#/&#+ .& 3&- .((,#&#+ ?.*@#9 @-3/> L;KHj +3-('@/& ,. 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH;
Ia; *]C?9G .; <.F3&.* %&'() 2#&.3*- '1 (.F3&.* -&'() .- .& 2#(#=G#, HI9 JKIL ./+ JKIHd O,#1#,,#+
<'=='/
7@=G#, '1 %".,#-
O#-' AM@3?.*#/&
6@&"',3C#+ U O bK;JK F., ?.*@# F#, F,#1#,,#+ -".,#fO bI;KK F., ?.*@# F#, ('=='/ -".,#
]9[KK9KKK9KKK
O bI9[KK9KKK9KKK
%@G-(,3G#+ ./+ 3--@#+
]9[KK9KKK9KKK
!,#.-@,D -".,#e/+#,*D3/> -".,#- '1 &"# .(M@3,#+ O2Q-
LaJ9\IZ c
7@=G#, '1 %".,#-
O#-' AM@3?.*#/&
[9KKK9KKK9KKK
O b[9KKK9KKK9KKK
I9[KK9KKK9KKK H9HZL9ZaJ9KKK
H9HZL9ZaJ9KKK
a\9[ZH
H9ZL[9KKK
H9ZL[9KKK
][K9KKK
Ob][K9KKK
!"# F,#1#,,#+ -".,#- .,# '1 #M@.* ,./)9 F,#1#,#/(# ./+ F,3',3&D ./+ .,# 3+#/&3(.* 3/ .** ,#-F#(& ,#>.,+*#-- '1 -#,3#-; O,#1#,,#+ -".,#- .,# F.,&3(3F.&3/> .& &"# ,.&# '1 '/# 131&" ^If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
!"#$%"&''()*!
U [J U
0R2 =.D +#&#,=3/#; A.(" F,#1#,,#+ -".,# 3- #/&3&*#+ &' '/# ?'&# ./+ -".** ".?# &"# -.=# ?'&3/> ,3>"&- .- &"# ('=='/ -".,#-; !"# O.,#/& <'=F./DS- 0R2 =.D -F#(31D '&"#, &#,=- ./+ ('/+3&3'/-9 M@.*313(.&3'/-9 ,#-&,3(&3'/- ./+ F,3?3*#>#- '1 &"# F,#1#,,#+ -".,#- ', -#,3#-f(*.--#- &"#,#'19 3/-'1., .- -@(" &#,=-9 ('/+3&3'/-9 M@.*313(.&3'/-9 ,#-&,3(&3'/- ./+ F,3?3*#>#- .,# /'& 3/('/-3-&#/& 83&" &"# .,&3(*#- '1 3/(',F',.&3'/ ./+ ./D .FF*3(.G*# *.8 ', ,#>@*.&3'/; !"# 1'**'83/> -@==.,3C#- &"# 3/1',=.&3'/ '/ &"# O.,#/& <'=F./DS- ,#>3-&,.&3'/ '1 -#(@,3&3#83&" &"# %A< 8"3(" 8.- .FF,'?#+ '/ `@/# JK9 JKK]9 .- ,#M@3,#+ GD %#(@,3&3#- Q#>@*.&3'/ <'+# ^%Q<_ Q@*# Z\9 6- 6=#/+#+ ^JKII_d 6@&"',3C#+ ./+ %#(@,3&3#3--@#+ -".,#:/3&3.* F@G*3( '11#,3/> aI9HLZ9KKK e/+#,*D3/> ('=='/ -".,#- '1 O2QaL[9LHJ9KKK R?#,U.**'&=#/& ('=='/ -".,#IH9]KI9KKK <'=='/ -".,#- ('?#,3/> #=F*'D## -&'() 'F&3'/ F*./ []9KKK9KKK e/+#,*D3/> -".,#- '1 &"# .(M@3,#+ O2QaL[9LHJ9KKK
:--@#fR11#, O,3(# b\;[K O \;[K \;[K \;[K \;[K
G; Q#&.3/#+ A.,/3/>!"# ,#&.3/#+ #.,/3/>- '1 &"# O.,#/& <'=F./D 3- ,#-&,3(&#+ 1', &"# F.D=#/& '1 +3?3+#/+- &' &"# #N&#/& '1 b OHL;J] =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#F,#-#/&3/> &"# ('-& '1 -".,#"#*+ 3/ &,#.-@,D ./+ @/+#,*D3/> -".,#- '1 &"# .(M@3,#+ O2Q- .='@/&3/> &' bJ\;L\ O =3**3'/ ./+ b[;]a =3**3'/9 ,#-F#(&3?#*D9 3/ JKIL ./+ JKIH; O <'/-'*3+.&#+ ,#&.3/#+ #.,/3/>- 3/(*@+# @/+#(*.,#+ ,#&.3/#+ #.,/3/>- '1 -@G-3+3.,3#- .='@/&3/> &' b OIaH;ZJ =3**3'/ ./+ b OIKK;K\ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; !"# O.,#/& <'=F./DS- ,#&.3/#+ #.,/3/>- .?.3*.G*# 1', +3?3+#/+ +#(*.,.&3'/9 ('=F@&#+ G.-#+ '/ &"# >@3+#*3/#- F,'?3+#+ 3/ %Q< Q@*# Z\9 6- 6=#/+#+ ^JKII_9 .='@/&#+ &' bI9KK[;aK O =3**3'/ ./+ bI9HLH;ZI =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; O !"# 0R2 '1 &"# O.,#/& <'=F./D .FF,'?#+ &"# +#(*.,.&3'/ '1 &"# 1'**'83/> (.-" +3?3+#/+- 3/ JKIL9 JKIH ./+ JKIJd <.-" 23?3+#/+ O#, %".,# [ VR3"Q
!'&.* <.-" 23?3+#/+ 2#(*.,#+ [ V#0$#"0"!$0!QO
V#., "R#Y
2#(*.,.&3'/ 2.&# 'J
Q#(',+ 2.&# 'J
JKIH
5.,(" L9 JKIH
6F,3* I]9 JKIH
O bK;J[
b OI9JI[9KLa9ZKa
JKIJ
5.,(" J\9 JKIJ 6@>@-& I9 JKIJ
6F,3* Z9 JKIJ 6@>@-& JJ9 JKIJ
O bK;LK K;JZ
b OI9aLL9K]a9H][ I9JZL9]aL9JaH b OH9JK\9\]H9ZZ\
!"#$%"&''()*!
U [H U
JK; .8KL98_ VL<9G 4?ZDK;ZC<8Z O.,&3#- .,# ('/-3+#,#+ &' G# ,#*.&#+ 31 '/# F.,&D ".- &"# .G3*3&D9 +3,#(&*D ./+ 3/+3,#(&*D9 &' ('/&,'* &"# '&"#, F.,&D ', #N#,(3-# -3>/313(./& 3/1*@#/(# '?#, &"# '&"#, F.,&D 3/ =.)3/> 13/./(3.* ./+ 'F#,.&3/> +#(3-3'/-; O.,&3#- .,# .*-' ('/-3+#,#+ &' G# ,#*.&#+ 31 &"#D .,# -@GT#(& &' ('=='/ ('/&,'*; !,./-.(&3'/- 83&" ,#*.&#+ F.,&3#- 3/(*@+3/> &"# &#,=- ./+ ('/+3&3'/- .,# .- 1'**'8-d
Q#*.&#+ O.,&D ZZ;D?L98 P 5'/&U63,# 2;@@;> Z9;D=a;K_8
<.&#>',D
6='@/&f W'*@=# '1 !,./-.(&3'/-
V#.,
7'/3/&#,#-&UG#.,3/> .+?./(#- ^7'&# II_
"R#Y JKIH
V [ $0#$Y0OY! c
2'/.&3'/-
"R#Y JKIH
#NQ0R"R IIJ9I]K
X#>.*9 ('/-@*&3/> ./+ ,#&.3/#,-S 1##-
"R#Y JKIH
##0!YO0!#$ IK9IIK9HaI
Q#(#3?.G*#^O.D.G*#-_ !#,=-
<'/+3&3'/-
V [OQ0\#R0"#! 7'/3/&#,#-&U \L9L][9H]K G#.,3/>
e/-#(@,#+i /'& 3=F.3,#+
R/ +#=./+9 /'/3/&#,#-&U G#.,3/>
Y0R##0O!Q [ZJ9aKI
e/-#(@,#+i /'& 3=F.3,#+
I c
!"# .+?./(#- =.+# GD &"# O.,#/& <'=F./D &' 5'/&U63,# 3/ F,#?3'@- D#.,- .,# 3/&#/+#+ 1', 1@&@,# (.F3&.* -@G-(,3F&3'/; <'=F#/-.&3'/ '1 o#D 5./.>#=#/& O#,-'//#* !"# ('=F#/-.&3'/ '1 )#D =./.>#=#/& F#,-'//#* '1 &"# 4,'@F9 GD G#/#13& &DF#9 1'**'8-d
%.*.,3#- ./+ '&"#, *'/>U&#,= G#/#13&O#/-3'/ G#/#13&
"R#Y [ V"O\0$Y\0O## #YR0$O!0Y$# [Y"\0Q$"0"Y" V
JKIH b OJaL9KLL9][] LK9HJJ9Ha\ b OHHL9HZ]9I[[
JKIJ O bJ]a9LHJ9]KK Ha9IaI9KH\ O bHI\9ZJH9]H\
AM@3&D :/?#-&=#/&- '1 &"# Q#&3,#=#/& P@/+ !"# 4,'@FS- ,#&3,#=#/& 1@/+ 3/(*@+#- #M@3&D 3/?#-&=#/&- 3/ 456 7#&8',)9 :/(; ./+ 456 O2Q.='@/&3/> &' b OLH;ZJ =3**3'/ ./+ b OHLJ;]Z =3**3'/ 3/ JKIL9 ,#-F#(&3?#*D9 ./+ O b[a;IK =3**3'/ ./+ bLK\;]] =3**3'/ 3/ JKIH9 ,#-F#(&3?#*D ^-## 7'&# JZ_; O
JI; )89 .8B8>C8Z
!#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/ 3/('=# ^7'&# J]_ O,'+@(&3'/ ./+ '&"#, <'UF,'+@(#,-S -".,#-
JKIH "R#Y b O II9]LK9[KH9H]K [ V#R0\Q\0\"\0!$# a]]9\IJ9HIa #0RQ!0QNQ0O$\ JLL9HLJ9J\\ "$#0\\O0NY# IJ9aZJ9Z[]9a]] ##0NOY0RN$0$RO ^II9]]\9Z[[_ b#0"RY0N\"c b O IJ9a[K9\]a9HJJ [##0NO"0OOO0$Y\ V
JKIJ O bIK9\\H9IJ[9L]a a[Z9JaH9ZKH JZa9][I9][H IJ9IKa9I]K9\H[ ^JH9JH[9\Z[_ O bIJ9K\[9aHL9a]K
!#*#?3-3'/ ./+ ,.+3' .3,&3=# 3/(*@+# &.N (,#+3&- #.,/#+ 1,'= .3,3/> '1 >'?#,/=#/& ('==#,(3.*./+ .+?#,&3-#=#/&- .='@/&3/> &' O b\K;KK =3**3'/9 O bLL;\K =3**3'/ ./+ O bLK;KK =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D;
!"#$%"&''()*!
U [L U
JJ; V<;_CD9?;> 2;Z9Z
JKIH
JKIJ
b OH9IKJ9[Ia9a\a \Ia9I[K9\]a
O bJ9\Ka9JZa9]JH ZaK9J\\9aLK
[Z[9H[]9ZaI [][9\K\9HLZ HZ\9aKL9L[]
LZK9aH]9LZ[ L\I9][\9IaH LK\9LZZ9JZI
J\]9[[H9\H[ JH]9K\Z9[K\ b O [9a[Z9H\I9]K[
J[H9ZKH9[IK I\K9\Ia9LKK O b[9J\[9ILH9LaJ
JKIH b O J9IHZ9Z\L9a\I
JKIJ b OJ9I]K9I\K9\]I
"R#Y
!.*#/& 1##- ./+ F,'+@(&3'/ F#,-'//#* ('-&- ^7'&# JL_ [ V"0Q$O0O#R0N$Y Q#/&.* ^7'&# J]_ QYR0$!$0R#N O,'>,.= ./+ '&"#, ,3>"&- @-.># ^7'&# \_ \Y\0\OR0QNN !.F#-9 -#&- ./+ F,'+@(&3'/ -@FF*3# YNQ0N##0O$\ P.(3*3&3#- ./+ F,'+@(&3'/ -#,?3(# Y"$0O"!0##O 2#F,#(3.&3'/ ./+ .=',&3C.&3'/ ^7'&#- IJ ./+ IL_ $RY0Q"Q0$$Q !,./-F',&.&3'/ ./+ ('==@/3(.&3'/ #NN0YQ$0N"# [!0!!#0QO"0N\Y V
JH; %8>8_ '_@?>?Z9Z8Z "R#Y [ V"0!!#0YO"0Q\!
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`./3&',3.* -#,?3(# "#0$"R0Y!Q 2@#- ./+ -@G-(,3F&3'/ #Y0#Y"0\NN A/&#,&.3/=#/&9 .=@-#=#/& ./+ ,#(,#.&3'/ #$0Q"Y0$N$ P,#3>"& ./+ "./+*3/> #"0"\\0#RQ O,'?3-3'/- 1', 3=F.3,=#/& *'-- '/d 6P% 13/./(3.* .--#&^7'&# IK_ #0$QR0$RR 6+?./(#- &' T'3/& ?#/&@,# I O,'?3-3'/ 1', +'@G&1@* .(('@/&^7'&# ]_ Q#!0YN! R&"#, Y\0"NY0O!Y V [!0R"#0N\N0ON"
LI]9\\]9K[K HaH9IL\9\\H HKK9KaK9[aH ILK9]KH9KI] ILK9aKa9L\K IJK9\ZL9aZa I[K9a][9[Ka JK]9ZLI9JKa IKK9HHa9LIL IL[9\aa9JaK ]Z9IaH9K]] \K9a]]9aII Ha9Kaa9[[Z JI9JI\9[ZH
H[Z9Haa9LK] HaL9HIa9HJa HKH9aZa9J[L ILH9ZLJ9I]L ILZ9K[]9HaJ IJK9KLH9I]Z ILL9J]J9]ZZ IJ\9J]H9]I[ a]9[aK9HKK IHH9]aJ9\IK Za9KK[9\H\ Z\9a[I9H]L H]9\HJ9J\a JJ9JaL9\KI
HK9aa[9\LL JL9KaL9I\] IZ9ZIZ9[LJ IK9ZLZ9a\H
J]9]HH9aH\ J[9JH\9IJZ I[9IKI9KHZ IK9IIL9aI]
IH9]J\9LKL IJ9Ka[9HII
I[9LJI9a[H II9a[J9]KK
I9K[H9[[K c
I9K[H9[[K J9ZIK9J\]
\L\9KK[ JZ9JHJ9\I\ b O L9ZK\9aL[9ILZ
H[9]\[9JK] HZ9aaa9HKa b OL9[I\9ZHZ9[Ia
!"#$%"&''()*!
U [[ U
JL; V8>8K 2;Z9Z
!.*#/& 1## %.*.,3#- ./+ 8.># A=F*'D## G#/#13&- ./+ .**'8./(# O#/-3'/ #NF#/-# ^7'&# JZ_ %3() ./+ ?.(.&3'/ *#.?#- #NF#/-#
JKIH "R#Y O J9a]I9HJK9\[] [ V"0\!"0YQ"0"OR b I9[[H9IZL9a\a #0Q#R0Y\R0ORO
JKIJ b OJ9ZHH9]H[9J]Z I9L\\9Ka[9LIL
[LL9JHH9\Ka IIZ9I[\9I\H [L9HJ]9IHJ b O [9JHa9JKL9a]K
Z]\9Z][9JHI IJK9LKI9HIK [\9[LH9HZH b OL9a]a9L[K9[aL
"R#Y [ V"0Q$O0O#R0N$Y
JKIH b O H9IKJ9[Ia9a\a
JKIJ b OJ9\Ka9JZa9]JH
"0!!#0YO"0Q\! V [!0"NR0"N$0\NN
J9IHZ9Z\L9a\I b O [9JHa9JKL9a]K
J9I]K9I\K9\]I b OL9a]a9L[K9[aL
QRR0\!Y0ROO #\$0R#\0!"! \$0\ON0NNO V [!0"NR0"N$0\NN
!"# .G'?# .='@/&- 8#,# +3-&,3G@&#+ .- 1'**'8-d O,'+@(&3'/ ('-&- ^7'&# JJ_ 4#/#,.* ./+ .+=3/3-&,.&3?# #NF#/-#- ^7'&# JH_
J[; -9a8
"R#Y
4.3/ '/ -.*# '1 F,'F#,&D ./+ #M@3F=#/& !.N ,#1@/+ '1 456 O3/'D !W <'==3--3'/ Q#/&.* 3/('=# ^7'&# J]_ :/('=# 1,'= =.** -"'8 5#,("./+3-3/> *3(#/-# 1##- ./+ '&"#, X'-- '/ .--#& +3-F'-#+f8,3&&#/ '11 ^7'&#- \ ./+ IL_ 23?3+#/+ %.*#- '1 2W2- ./+ 3/&#>,.&#+ ,#(#3?#,U+#('+#, R&"#,
JKIH
JKIJ b OJa9KL[9LL] Ia9JLZ9K]] J9]J[9[La [9LZ]9II] J9[LZ9]aa
[ V$"0Q#O0$O" "R0#$O0\$! #R0$#\0#R" !0#Q!0Y\# Y0"$"0RNR
b OII9JLH9]HK Ia9IZI9KJ] Z9JaH9[\] L9\L[9L[K J9aK\9JJI
$0NRR0$Y!
I9Z[]9aKZ
J9a[L9K\\
^J9]KH9[]Z_ JJ9IHK9HKK
c I9HaL9HHL
b$0\"Y0R##c !#Y0NY" #$!0NOY $0#!N0R#Q V [Q\0\\\0NYQ
I9J]a9K]\ ]L[9HJI b OZ]9[ZI9KLL
I9KIL9HLJ ^H]I9]KH_ b OZL9KJJ9K[K
JZ; V8>Z?;> L>_ -9a8< *@JK;G88 78>8`?9Z O#/-3'/ 0#/#13&!"# 4,'@F 'F#,.&#- /'/U('/&,3G@&',D +#13/#+ G#/#13& ,#&3,#=#/& F*./-; e/+#, &"# #N3-&3/> ,#>@*.&',D 1,.=#8',)9 Q#F@G*3( 6(& ]ZLI ,#M@3,#- . F,'?3-3'/ 1', ,#&3,#=#/& F.D &' M@.*313#+ F,3?.&# -#(&', #=F*'D##- 3/ &"# .G-#/(# '1 ./D ,#&3,#=#/& F*./ 3/ &"# #/&3&D9 F,'?3+#+ "'8#?#, &".& &"# #=F*'D##S- ,#&3,#=#/& G#/#13&- @/+#, ./D ('**#(&3?# G.,>.3/3/> ./+ '&"#, .>,##=#/&- -".** /'& G# *#-- &"./ &"'-# F,'?3+#+ @/+#, &"# *.8; !"# *.8 +'#- /'& ,#M@3,# =3/3=@= 1@/+3/> '1 &"# F*./;
!"#$%"&''()*!
U [Z U
O#/-3'/ G#/#13&- ,#('>/3C#+ 3/ &"# F,'13& ', *'-- .,# .- 1'**'8- ^-## 7'&# JL_d
<@,,#/& -#,?3(# ('-& 7#& 3/&#,#-& ('-&
"R#Y V [#"$0$N#0N$$ $N0\"Y0!N" V [#\$0R#\0!"!
JKIH b OaI9KI]9KJ[ J[9ILI9I[\ b OIIZ9I[\9I\H
JKIJ b O\\9\II9\ZH HI9[\a9LL] b OIJK9LKI9HIK
7#& F#/-3'/ *3.G3*3&D ,#('>/3C#+ 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ 3- .- 1'**'8-d "R#Y
O,#-#/& ?.*@# '1 +#13/#+ G#/#13& 'G*3>.&3'/ P.3, ?.*@# '1 F*./ .--#& 7#& F#/-3'/ *3.G3*3&D
[ V#0\Y"0QO\0!"N YO#0!R\0YQQ [ V#0#\#0"OR0R!"
JKIH
JKIJ
b OI9JJZ9aZZ9IZK ZJI9]I\9IK\ b OZK[9JL\9K[J
O bI9Ka[9ZZ]9KIJ Z\\9]JJ9[]\ O bLKZ9aLL9LHL
!"# ("./>#- 3/ &"# F,#-#/& ?.*@# '1 &"# +#13/#+ G#/#13& 'G*3>.&3'/ .,# .- 1'**'8-d 0.*./(# .& G#>3//3/> '1 D#., <@,,#/& -#,?3(# ('-& :/&#,#-& ('-& 0#/#13&- F.3+ Q#=#.-@,#=#/& *'--#- ^>.3/-_d <"./>#- 3/ 13/./(3.* .--@=F&3'/ <"./>#- 3/ +#='>,.F"3( .--@=F&3'/ANF#,3#/(# .+T@-&=#/& 0.*./(# .& #/+ '1 D#.,
JKIH "R#Y OI9Ka[9ZZ]9KIJ [ V#0""\0N\\0#\R b #"$0$N#0N$$ aI9KI]9KJ[ Q!0#O!0$R" Z]9JJJ9IK\ bNQ0$#N0Q"Oc ^JZ9aHa9a\[_
#Y\0Y$O0$!Y
c
I #\O0#"Y0!RO [ V#0\Y"0QO\0!"N
c c b O I9JJZ9aZZ9IZK
JKIJ b OaHZ9]aJ9ZHI \\9\II9\ZH [Z9K]\9Z][ ^\H9[\]9IH\_
IaJ9JZ[9H\Z ^J\]9IKa9]][_ IaJ9H[[9H]K b OI9Ka[9ZK]9KIJ
!"# ("./>#- 3/ &"# 1.3, ?.*@# '1 F*./ .--#&- .,# .- 1'**'8-d 0.*./(# .& G#>3//3/> '1 D#., <'/&,3G@&3'/ +@,3/> &"# D#., :/&#,#-& 3/('=# 0#/#13&- F.3+ Q#=#.-@,#=#/& >.3/ ^*'--_ U ,#&@,/ '/ F*./ .--#& 0.*./(# .& #/+ '1 D#.,
"R#Y V [\"#0Q#O0#RO #Q0!N!0\"\ $!0!\R0Q#R bNQ0\ON0RQOc
JKIH b OZ\\9]JJ9[]\ H9[]\9Z\] LJ9K\K9a[K ^JZ9[Ia9]\]_
bN!0\QO0OONc V [YO#0!R\0YQQ
^\Z9ILL9HJK_ b OZJI9]I\9IK\
JKIJ b O[JZ9HZK9I\Z c JL9L\a9JJ\ ^]I9I]a9L]\_ JKa9K[J9ZLJ b OZ\\9]JJ9[]\
6& #.(" ,#F',&3/> F#,3'+9 &"# 4,'@F +#&#,=3/#- 3&- +3-&,3G@&3'/ G.-#+ '/ &"# F#,1',=./(# '1 3&,#&3,#=#/& 1@/+; !"# 1@/+- .,# =./.>#+ ./+ -@F#,?3-#+ GD . &,@-&## G./) 1', &"# G#/#13&- '1 &"# =#=G#,-; m'8#?#,9 &"# >#/#,.* .+=3/3-&,.&3'/ '1 &"# 1@/+- 3- ?#-&#+ 3/ . Q#&3,#=#/& <'==3&&##;
!"#$%"&''()*!
U [] U
!"# 1'**'83/> &.G*# F,#-#/&- &"# (.,,D3/> .='@/&- ./+ #-&3=.&#+ 1.3, ?.*@#- '1 &"# F*./ .--#&-d
<.-" ./+ (.-" #M@3?.*#/&AM@3&D 3/-&,@=#/&- ^7'&# JK_d 456 O2Q456 7#&8',)9 :/(; 2#G& 3/-&,@=#/&- U 4'?#,/=#/& -#(@,3&3#R&"#,-
"R#Y 2L<A dLKC8 [ V$#0Y#\
JKIH P.3, W.*@# HL?< dLKC8 <.,,D3/> W.*@# b OHJ9IJL9I\[ O bHJ9IJL9I\[ [ V$#0Y#\
$Y"0Q\R0N!R Y$0\"#0"RR
$Y"0Q\R0N!R LK\9]]L9I]K Y$0\"#0"RR [a9IKK9Ha[
LK\9]]L9I]K [a9IKK9Ha[
O"0Y$!0$"! #"0\!Q0!O\ [ YO#0!R\0YQQ V
O"0Y$!0$"! IKa9HI\9a[H #"0\!Q0!O\ IJ9LKK9LK[ b O ZJI9]I\9IK\ [ VYO#0!R\0YQQ
IKa9HI\9a[H IJ9LKK9LK[ O bZJI9]I\9IK\
!"# F*./ .--#&- ('/-3-& '1 &"# 1'**'83/>d
<.-" ./+ (.-" #M@3?.*#/&- ('/-3-& '1 ,#>@*., -.?3/>- ./+ &3=# +#F'-3&-; :/?#-&=#/&- 3/ #M@3&D 3/-&,@=#/&- ('/-3-& '1 @/-#(@,#+ ./+ /'& 3=F.3,#+ 3/?#-&=#/&- '/ &"# *3-&#+ -".,#- '1 456 7#&8',)9 :/(; ./+ 456 O2Q- ^-## 7'&# JK_; <"./>#- 3/ &"# 1.3, =.,)#& ?.*@# 3/ &"#-# 3/?#-&=#/&- .='@/&#+ &' . >.3/ '1 O bZH;aI =3**3'/ ./+bI[];HZ O =3**3'/ 3/ JKIL ./+ JKIH9 ,#-F#(&3?#*D; :/?#-&=#/&- 3/ +#G& 3/-&,@=#/&- G#., 3/&#,#-& ,./>3/> 1,'= H;I[j &' ];\aj ./+ ".?# =.&@,3&3#- 1,'= P#G,@.,D JKI[ &' R(&'G#, JKH]; R&"#,- ('/-3-& '1 *'./- ./+ ,#(#3?.G*#- 8"3(" .,# ('**#(&3G*# 83&"3/ &"# /#N& &8#*?# ='/&"-;
AM@3&D ./+ +#G& 3/-&,@=#/&- "#*+ ".?# M@'&#+ F,3(#- 3/ .(&3?# =.,)#&; !"# F#,-'/ 8"' #N#,(3-#- ?'&3/> ,3>"&- '?#, -".,#- 3- 83&"3/ &"# F '8#,- '1 &"# !,@-&##9 8"' +' /'& ".?# ./D ,#*.&3'/-"3F 83&" &"# +3,#(&',- ', '113(#,- '1 &"# 4,'@F; !"# F*./ .--#&- ('/-3-& '1 \K;JLj ./+ ][;JZj 3/?#-&=#/&- 3/ #M@3&D 3/-&,@=#/&- .- .& 2#(#=G#, HI9 JKIL ./+ JKIH 9 ,#-F#(&3?#*D; !"# F*./ .--#&- .,# F,3=.,3*D #NF'-#+ &' 13/./(3.* ,3-)- -@(" .- *3M@3+3&D ,3-) ./+ F,3(# ,3-); X3M@3+3&D ,3-) F#,&.3/- &' &"# F*./S- .G3*3&D &' =##& 3&- 'G*3>.&3'/ &' &"# #=F*'D##- @F'/ ,#&3,#=#/&; !' #11#(&3?#*D =./.># *3M@3+3&D ,3-)9 &"# 0'.,+ '1 !,@-&##- 3/?#-&- .& *#.-& &"# #M@3?.*#/& .='@/& '1 .(&@.,3.**D ('=F@&#+ #NF#(&#+ ('=F@*-',D ,#&3,#=#/& G#/#13& F.D=#/&- 1', &"# D#., &' *3M@3+f-#=3U*3M@3+ .--#&- -@(" .- &,#.-@,D /'&#-9 &,#.-@,D G3**-9 -.?3/>- ./+ &3=# +#F'-3&- 83&" ('==#,(3.* G./)-; O,3(# ,3-) F#,&.3/- =.3/*D &' 1*@(&@.&3'/- 3/ =.,)#& F,3(#- '1 #M@3&D -#(@,3&3#- *3-&#+ 3/ &"# %A<; :/ ',+#, &' #11#(&3?#*D =./.># F,3(# ,3-)9 &"# 0'.,+ '1 !,@-&##- ('/&3/@'@-*D .--#--#- &"#-# ,3-)- GD (*'-#*D ='/3&',3/> &"# =.,)#& ?.*@# '1 &"# -#(@,3&3#- ./+ 3=F*#=#/&3/> F,@+#/& 3/?#-&=#/& -&,.&#>3#-; m'8#?#,9 3/ &"# #?#/& . G#/#13& (*.3= .,3-#- @/+#, &"# ,#&3,#=#/& F*./ ./+ &"# , #&3,#=#/& 1@/+ 3/'& -@113(3#/& &' F.D &"# G#/#13&9 &"# @/1@/+#+ F',&3'/ '1 &"# (*.3= -".** 3==#+3.&#*D G# +@# ./+ F.D.G*# &' &"# ,#&3,#=#/& 1@/+ 1,'= &"# 4,'@F; bIJK;KK =3**3'/ &' &"# +#13/#+ G#/#13& F#/-3'/ F*./ 3/ JKI[; !"# 4,'@F #NF#(&- &' ('/&,3G@&# O
!"#$%"&''()*!
U [\ U
!"# F,3/(3F.* .--@=F&3'/- @-#+ 3/ +#&#,=3/3/> F#/-3'/ *3.G3*3&D 1', &"# 4,'@FS- F*./- .,# -"'8/ G#*'8d 23-('@/& ,.&# ANF#(&#+ ,.&# '1 -.*.,D 3/(,#.-# !@,/U'?#, ,.&#-d IaUJL D#.,- '*+ J[UJa D#.,- '*+ HKUHL D#.,- '*+ H[UHa D#.,- '*+ LKULL D#.,- '*+ pL[ D#.,- '*+
"R#Y YP!h Y3RRh
JKIH ZU]j L;KKj
JKIJ ZU]j L;KKj
O3\$h \3Q#h $3QRh $3RYh "3!Rh "3OYh
IK;LLj Z;a[j H;\]j J;[[j J;I\j J;][j
IK;LLj Z;a[j H;\]j J;[[j J;I\j J;][j
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
3-('@/& ,.&#
@&@,# -.*.,D 3/(,#.-#-
:/(,#.-# ^2#(,#.-#_ 3/ 0.-3- O'3/&[K ^[K_ [K ^[K_
"R#Y bV [#R#0YRO0OQYc ###0$YO0$\#
JKIH ^O bZa9K]\9Ia[_ ZH9HII9L[L
JKIJ ^O bZJ9[Z]9IHK_ Z\9[\a9aIa
#R$0N$\0!Q$ bN!0O#Q0"!Nc
Z]9II[9KLa ^ZI9aZI9]aI_
Z[9KJ]9KZH ^[a9a[J9KKa_
!"# 4,'@F F#,1',=#+ ./ 6--#&UX3.G3*3&D 5.&("3/> %&@+D ^6X5_ .//@.**D; !"# F,3/(3F.* &#("/3M@# '1 &"# 4,'@FS- 6X5 3/ ',+#, &' =3/3=3C# &"# F',&1'*3' *3M@3+.&3'/ ,3-) 3- &' #/-@,# &".& &"# #NF#(&#+ ,#&@,/ '/ .--#&- 83** G# -@113(3#/& &' -@FF',& &"# +#-3,#+ *#?#* '1 1@/+3/> .,3-3/> 1,'= &"# +#13/#+ G#/#13& F*./-; !"# 4,'@FS- (@,,#/& 3/?#-&=#/& -&,.&#>D ('/-3-&- '1 \Kj #M@3&D 3/-&,@=#/&-9 I]j +#G& 3/-&,@=#/& ./+ Hj *'./- ./+ ,#(#3?.G*#-; %"'8/ G#*'8 3- &"# =.&@,3&D ./.*D-3- '1 &"# @/+3-('@/&#+ G #/#13& F.D=#/&- .- .& 2#(#=G#, HI9 JKILd V#., JKIH "R#Y X#-- &"./ '/# D#., b O La9ZIH9HJI V [#R$0ONN0$YR 5',# &"./ I D#., &' H D#., #ON0N!!0OQQ JKZ9\HJ9LLZ 5',# &"./ H D#.,- &' ] D#., #0#RQ0QRQ0#QN a[H9[JL9HIK 5',# &"./ ] D#.,- &' I[ D#.,- #0$RQ0RQQ0"QY I9H\L9KK\9KLZ 5',# &"./ I[ D#.,- &' JK D#.,- "0O#Q0!OY0#Q$ J9[]]9\Ka9JKI 5',# &"./ JK D#., #!0R$N0NO$0N#$ IH9LKZ9IIH9L\L
JKIJ OIH\9IZI9ZK] JKZ9ZK[9Z[L [[a9]LH9L\] I9L[J9KK\9\JL J9KLH9\ZI9[HH IL9[J\9Z]I9\H]
R&"#, A=F*'D## 0#/#13&R&"#, *'/>U&#,= #=F*'D## G#/#13&- ('/-3-& '1 .((@=@*.&#+ #=F*'D## -3() ./+ ?.(.&3'/ *#.?# #/&3&*#=#/&-; 7'/(@,,#/& F',&3'/ '1 '&"#, #=F*'D## G#/#13&- .='@/&#+ &'bJ[a;KI O =3**3'/ ./+ b OJZL;H] =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D9 8"3*# (@,,#/& F',&3'/ '1 '&"#, #=F*'D## G#/#13&- ,#(',+#+ 3/ g6((,@#+ F.D,'** ./+ &.*#/& 1##-h 3/(*@+#+ @/+#, g!,.+# ./+ '&"#,
!"#$%"&''()*!
U [a U
(@,,#/& *3.G3*3&3#-h .(('@/& .='@/&#+ &' bI\;IL O =3**3'/ ./+ b OI];JZ =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D ^-## 7'&# IZ_;
J]; 'A<88@8>9Z X#.-# 6>,##=#/&I("7$.+), N"$/" 0&''+.'")./ ; @7&9( $/ N"//""; !"# 4,'@F #/&#,#+ 3/&' ?.,3'@- *#.-# .>,##=#/&- 1', &"# *./+9 G@3*+3/>9 -&@+3' -F.(#-9 -.&#**3&# ./+ .3,&3=# &".& 3& F,#-#/&*D '((@F3#- ./+ @-#- 1', F#,3'+- ,./>3/> 1,'= &",## &' &8#/&D 13?# D#.,-; !"# *#.-#- .,# (./(#**.G*# .& &"# 4,'@FS'F&3'/;
6*-'9 3/ `@/# JKIJ9 &"# O.,#/& <'=F./D .>,##+ &' #N&#/+ 3&- /'/U(./(#**.G*# <'UF,'+@(&3'/f 0*'()&3=# Q#/&.* 6>,##=#/& 83&" qRA 0,'.+(.-&3/> 7#&8',)9 :/(; ^q07_ 1', ./'&"#, -#?#/ D#.,- 1,'= `@/# JKIJ &' 5.D JKIa; R/ &"# 13,-& D#., '1 &"# ('/&,.(& ,#/#8.*9 &"# O.,#/& <'=F./D -".** F.D q07 ./ .='@/& #M@3?.*#/& &' &'&.* F.D=#/&- 1,'= `@/# JKII &' 5.D JKIJ9 -@GT#(& &' D#.,*D #-(.*.&3'/ '1 IK;KKj; !'&.* ,#/&.* #NF#/-# .='@/&#+ &' b O\[[;IJ =3**3'/9 b OaIa;La =3**3'/ ./+ b O]\];\\ =3**3'/ 3/ JKIL9 JKIH9 ./+ JKIJ ,#-F#(&3?#*D ^-## 7'&#- JJ ./+ JH_; !"# 1@&@,# =3/3=@= ,#/&.*- F.D.G*# @/+#, &"# /'/U(./(#**.G*# 'F#,.&3/> *#.-#- 1'** '8d
E3&"3/ '/# D#., 61&#, '/# D#., G@& /'& =',# &"./ 13?# D#.,5',# &"./ 13?# D#.,-
JKIH "R#Y b OILL9HZ]9L[a V [#!O0ORY0"RY \\N0QY$0\R$ ]H]9KIK9HIH aI9[H]9LaL I b Oa]J9aI[9JZZ V [O"O0!YQ0ORQ
I("7$.+), N"$/" ; @7&9( $/ N"//&7 ; !"# 4,'@F .*-' *#.-#- '@& (#,&.3/ F,'F#,&3#- 1', . F#,3'+ '1 '/# D#.,9 ,#/#8.G*# .//@.**D; !"# *#.-#+ '@& F,'F#,&3#- 3/(*@+# 3/?#-&=#/& F,'F#,&3#- ./+ F',&3'/ '1 *./+ 3/ ,#>3'/.* -&.&3'/-; !'&.* ,#/&.* 3/('=# .='@/&#+ &' b[;I\ O =3**3'/9 b OL;\[ =3**3'/ ./+ b[;L] =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D ^-## 7'&# J[_; O
%@G-(,3F&3'/ 6>,##=#/&!"# O.,#/& <'=F./D #/&#,#+ 3/&' ?.,3'@- -@G-(,3F&3'/ .>,##=#/&- 83&" 3/&#,/.&3'/.* (.G*# F,'?3+#,- 1', &"# .3,3/> '1 3&- F,'>,.=- ./+ -"'8- .G,'.+; !"# .>,##=#/&- >#/#,.**D ".?# &#,='1 &",## &' 13?# D#.,- ./+ .,# G.-#+ '/ (#,&.3/ .>,##+ -#,?3(# F.().># ,.&#-; !'&.* -@G-(,3F&3'/ 3/('=# .='@/&#+ &' bI9K][;\K O =3**3'/9 O ba]];\I =3**3'/ ./+ b Oa[Z;Ja =3**3'/ 3/ JKIL9 JKIH ./+ JKIJ9 ,#-F#(&3?#*D ^-## 7'&# JI_;
!"#$%"&''()*!
U ZK U
J\; 1>D;@8 +Lk8Z !"# ('=F'/#/&- '1 &"# 4,'@FS- F,'?3-3'/ 1', ^G#/#13& 1,'=_ 3/('=# &.N 3/ &"# ('/-'*3+.& #+ F,'13& ', *'-- .,# .- 1'**'8-d
<@,,#/& U Q<:! 2#1#,,#+
"R#Y V [!#$0N#Q0"NY b\!0NO"0Y\$c V [YYQ0N$Y0O$#
JKIH b OaKa9IaK9HLK ^IaZ9\[a9Jaa_ b O]IJ9HHI9KLI
JKIJ b O]LK9JII9][L ^LZ9ZHL9]aL_ b OZaH9[]Z9aZK
:/('=# !.N !"# ,#('/(3*3.&3'/ G#&8##/ &"# -&.&@&',D 3/('=# &.N ,.&# ./+ #11#(&3?# 3/('=# &.N , .&#- '/ 3/('=# G#1',# 3/('=# &.N 3- -"'8/ G#*'8d
%&.&@&',D 3/('=# &.N ,.&# 6++3&3'/- ^+#+@(&3'/-_ 3/ 3/('=# &.N ,.&# ,#-@*&3/> 1,'=d 7'/+#+@(&3G*# &.N +#13(3#/(D F.D=#/& :/&#,#-& 3/('=# .*,#.+D -@GT#(&#+ &' 13/.* &.N 7'/+#+@(&3G*# 3/&#,#-& #NF#/-# 23?3+#/+ 3/('=# 1,'= 3/?#-&=#/& 7'/(*.3=.G*# 1',#3>/ &.N (,#+3& :/('=# &.N "'*3+.D :=F.3,=#/& *'-- '/ 3/?#-&=#/& R&"#,- U /#& A11#(&3?# 3/('=# &.N ,.&#
"R#Y $R3RRh
bR3$"c
bR3R#c
c
^K;JH_
^K;JH_
K;K\
K;K] c
I
I I I R3YQ $R3Q$h
JKIJ HK;KKj
c
R3!!
R3RY
JKIH HK;KKj
I I
I ^K;KI_ Ja;\Lj
K;JI ^I;IL_
K;KL I;KJ Ja;a]j
!"#$%"&''()*!
U ZI U
2#1#,,#+ :/('=# !.N#!"# ('=F'/#/&- '1 &"# 4,'@FS- /#& +#1#,,#+ 3/('=# &.N .--#&- ./+ *3.G3*3&3#- .,# .- 1'**'8-d
"R#Y
2#1#,,#+ 3/('=# &.N .--#&- U /#&d 2#1#,,#+ 3/('=# &.N .--#&-d O#/-3'/ *3.G3*3&D :/&#,('=F./D -.*# '1 3/&./>3G*# .--#& R&"#, *'/>U&#,= #=F*'D## G#/#13& 6**'8./(# 1', F,'G.G*# *'--#- 3/ 3/?#-&=#/& 6**'8./(# 1', +'@G&1@* .(('@/& AN(#-- 5<:! '?#, Q<:! R&"#,
2#1#,,#+ 3/('=# &.N *3.G3*3&3#-d e/,#.*3C#+ 1',#3>/ #N("./># >.3/ Q#?.*@.&3'/ '1 6P% 13/./(3.* .--#&-
[ VN\0$$O0N"Y Y!0RRR0RRR Q0O$!0NRQ #0ON$0\!# #0YY\0!## QOR0$\\ N""0"RQ #!Y0"#Q0!\\
b\0!QY0"\\c b"Y"0!R#c b\0O#\0Q\Qc V [#YQ0YRR0QNN
b O\I9HIL9HL[ c IH9II[9a[Z c L[L9I[J c c aL9\\L9L[H
^Z9Za[9[aK_ ^H\9KKI_ ^Z9]HH9[aI_ b O\\9I[K9\ZJ
"R#Y
2#1#,,#+ 3/('=# &.N *3.G3*3&3#- U /#&d 2#1#,,#+ 3/('=# &.N .--#&-d O#/-3'/ *3.G3*3&D 6**'8./(# 1', +'@G&1@* .(('@/&R&"#, *'/>U&#,= #=F*'D## G#/#13&6((,@#+ ,#/& e/,#.*3C#+ 1',#3>/ #N("./># *'-<@-&'=#,-S +#F'-3&
V ["!"0RY!0RN" OR0N\#0QQ# \N0O\Q0NN$ "!0OQR0"$N !0NQ$0Q\" \R!0$N" Y$!0$"Y0"YN
2#1#,,#+ 3/('=# &.N *3.G3*3&3#-d Q#?.*@.&3'/ 3/(,#=#/& '/ *./+ e/.=',&3C#+ (.F3&.*3C#+ G',,'83/> ('-&23-('@/&3/> '1 /'/(@,,#/& 'G*3>.&3'/ 1', F,'>,.= ./+ '&"#, ,3>"& Q#?.*@.&3'/ '1 6P% 13/./(3.* .--#&-
JKIH
JKIH
b Oaa9]ZK9JLa \K9aZI9]]I ]I9JKZ9Ia\ I\9][a9I]K IH9aLZ9HH] IHL9IHH9\]I LI\9]Z]9[aZ
bY$!0N\$0R#"c ^LH]9ZHa9I]K_ b#O0#$O0OQYc ^JI9IZJ9KJK_ bYN\0"!Yc ^I9JZ\9[II_ ^J]]9aIK_ bY""0Y#Rc bY!!0R"R0!!Rc ^LZK9HL]9ZII_ ^O bLI9[\K9KI[_ bV [#N0\N\0$R#c
!"# ('=F'/#/&- '1 +#1#,,#+ 3/('=# &.N .--#&- ^*3.G3*3&3#-_ F#,&.3/3/> &' .(('@/&- F,#-#/&#+ @/+#, #M@3&D 3/ &"# ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/ .,# .- 1'**'8-d
Q#?.*@.&3'/ 3/(,#=#/& '/ *./+ O#/-3'/ *3.G3*3&D U ,#=#.-@,#=#/& *'-'/ ,#&3,#=#/& F*./ Q#?.*@.&3'/ '1 6P% 13/./(3.* .--#&-
"R#Y bV [Y$!0N\$0R#"c
#$Y0"O$0Q#\ "0#!#0$$" bV ["NN0!"Q0N\Yc
JKIH
^O bLH]9ZHa9I]K_
IK9ZaL9I\K ^HI[9aII_ ^O bLJ]9JZK9aKI_
!"#$%"&''()*!
U ZJ U
!"# ('=F'/#/&- '1 &"# -@G-3+3.,3#-S +#+@(&3G*# & #=F',.,D +311#,#/(#- ./+ (.,,D1',8.,+ G#/#13&'1 7RX/3C#+ 3/ &"# 4,'@FS- ('/-'*3+.&#+ -&.&#=#/&- '1 13/./(3.* F'-3&3'/9 .,# .- 1'**'8-d
7RXU&#,= #=F*'D## G#/#13&-
6**'8./(# 1', 3=F.3,=#/& *'--
5<:!
e/,#.*3C#+ 1',#3>/ #N("./># *'--
"R#Y [ VOR0"Y"0QY\ N0OR!0NYQ #0NN"0"O\ \"Q0R$! !YR0O\\ #!Y0$!Y !Q0"RR V [N$0Y"R0Y$Y
JKIH
b OZL9KJ\9[IK J9[aJ9HZ] I9ZZZ9K]H [[[9L]H c JL\9LJK c b OZa9KaK9\LH
!"# @/,#('>/3C#+ +#1#,,#+ &.N .--#&- 1,'= &"# .G'?# +#+@(&3G*# & #=F',.,D +311#,#/(#- ./+ (.,,D1',8.,+ G#/#13&- '1 7RX/3C#+ .- =./.>#=#/& G#*3#?#- &".& 1@&@,# &.N.G*# 3/('=# .>.3/-& 8"3(" &"# +#1#,,#+ 3/('=# &.N .--#&- (./ G# @-#+ 1', &"#-# #/&3&3#- =.D /'& G# .?.3*.G*#; 6- .& 2#(#=G#, HI9 JKIL9 &"# 4,'@FS- 5<:! ./+ 7RX
<.,,D 1',8.,+ 0#/#13& eF !' 2#(#=G#, HI9 JKI[ 2#(#=G#, HI9 JKIZ 2#(#=G#, HI9 JKI]
5<:! bO c I[L9H[L c
bI[L9H[L O
7RX
!"# ='?#=#/&- 3/ 5<:! ./+ 7RX
0.*./(# .& G#>3//3/> '1 D#., 6++3&3'/6FF*3(.&3'/ ANF3,.&3'/-
5<:! bJL\9LJK O c ^H9\]I_ ^aK9Ia[_ bI[L9H[L O
7RX
0'.,+ '1 :/?#-&=#/&- ^0R:_ Q#>@*.&3'/ R/ P#G,@.,D Ia9 JKK]9 &"# O.,#/& <'=F./D 8.- ,#>3-&#,#+ 83&" &"# 0R: .- . /#8 #NF',& F,'+@(#, '1 &#*#?3-3'/ ./+ ='&3'/ F3(&@,# '/ . /'/UF3'/##, -&.&@- @/+#, &"# R=/3G@- :/?#-&=#/&- <'+# '1 Ia\] ^AN#(@&3?# R,+#, 7'; JJZ_; 6- . ,#>3-&#,#+ #/&#,F,3-#9 &"# O.,#/& <'=F./D 3- #/&3&*#+ &' 3/('=# &.N "'*3+.D 1', 3&- ,#>3-&#,#+ .(&3?3&D 1', 1'@, D#.,- -&.,&3/> 1,'= ,#>3-&,.&3'/ +.&#; R/ 2#(#=G#, IK9 JKIK9 &"# 0R: >,./&#+ &"# O.,#/& <'=F./D ./ .++3&3'/.* '/# D#., '1 3 /('=# &.N "'*3+.D 1', 3&- ,#>3-&#,#+ .(&3?3&D 1,'= P#G,@.,D Ia9 JKII &' P#G,@.,D I\9 JKIJ; !"# &'&.* &.N 3/(#/&3?#- .?.3*#+ '1 3/ JKIJ .='@/&#+ &' bJZ;La O =3**3'/;
!"#$%"&''()*!
U ZH U
Ja; *V5 2;@JC9L9?;> !"# ('=F@&.&3'/ '1 G.-3( ./+ +3*@&#+ AO% 1'**'8-d JKIH
"R#Y
7#& 3/('=# .&&,3G@&.G*# &' #M@3&D "'*+#,- '1 &"# O.,#/& <'=F./D ^._ [ V#0RRY0\!#0R#\ X#-- .&&,3G@&.G*# &' F,#1#,,#+ -".,#"'*+#, $#R0RYY0YYR 7#& 3/('=# .&&,3G@&.G*# &' ('=='/ #M@3&D "'*+#,- '1 &"# O.,#/& <'=F./D ^G_ [ V\NY0\R\0!Q\ <'=='/ -".,#- 3--@#+ .& &"# G#>3//3/> '1 D#., ^7'&# Ia_ !,#.-@,D -".,#- ^7'&# Ia_ e/+#,*D3/> -".,#- '/ .(M@3,#+ O2Q^7'&# Ia_ E#3>"&#+ .?#,.># /@=G#, '1 ('=='/ -".,#- 1', G.-3( AO% ^(_ E#3>"&#+ .?#,.># /@=G#, '1 ('=='/ -".,# A11#(& '1 +3*@&3'/ U .--@=#+ ('/?#,-3'/ '1 F,#1#,,#+ -".,# Q#.(M@3,#+ F,#1#,,#+ -".,# E#3>"&#+ .?#,.># /@=G#, '1 ('=='/ -".,#- .+T@-&#+ 1', &"# #11#(& '1 +3*@&3'/ ^+_
b OI9ZZZ9aLa9\[[
O bI9ZIZ9\\\9ZHH
[IL9LH[9\\[
La\9a\Z9[HZ
b OI9I[J9[IH9a]K
O bI9II]9aKJ9Ka]
$0$\Y0\N"0RRR H9HZL9ZaJ9KKK ^H9ZL[9KKK_ b$0\Y!0RRRc
bQ!R0RRRc
JKIJ
H9HZL9ZaJ9KKK ^H9ZL[9KKK_
^][K9KKK_
^][K9KKK_
$0$\R0"NQ0RRR
H9HZK9Ja]9KKK
H9HZK9Ja]9KKK
$0$\R0"NQ0RRR
H9HZK9Ja]9KKK
H9HZK9Ja]9KKK
#0!RR0RRR0RRR
I9[KK9KKK9KKK
I9[KK9KKK9KKK
bNO0!\$c
Y0O\R0#NO0Y$Q
^a\9[ZH_
^a\9[ZH_
L9\ZK9Ia\9LH]
L9\ZK9Ia\9LH]
0.-3( AO% ^Gf(_
[ VR3"RQ
b OK;HLH
O bK;HHH
23*@&#+ AO% ^.f+_
[ VR3"RQ
b OK;HLH
O bK;HHH
HK; H?>L>D?LK .?Z= &L>LA8@8>9 -Ml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f', 3&- 'F#,.&3'/- 8'@*+ ,#-@*& 3/ -@G-&./&3.**D "3>"#, 8',)3/> (.F3&.* ,#M@3,#=#/&- ./+ -@G-#M@#/&*D F'-# +3113(@*&D 3/ 13/./(3/> &"# .++3&3'/.* 8',)3/> (.F3&.*;
!"#$%"&''()*!
U ZL U
!"# 4,'@F =./.>#- *3M@3+3&D ,3-) GD @-3/> 3&- (.-" ./+ (.-" #M@3?.*#/&- 1,'= 'F#,.&3'/- &' =##& 3&- -"',&U&#,= *3M@3+3&D /##+-; !"# 4,'@F *3)#83-# ,#>@*.,*D #?.*@.&#- '&"#, 13/./(3/> 3/-&,@=#/&./+ .,,./>#=#/&- &' G,'.+#/ &"# 4,'@FS- ,./># '1 13/./(3/> -'@,(#-; !"# &.G*#- G#*'8 -@==.,3C# &"# =.&@,3&D F,'13*# '1 &"# 4,'@FS- 13/./(3.* .--#&- @-#+ 1', *3M@3+3&D ,3-) =./.>#=#/& F@,F'-#- ./+ 13/./(3.* *3.G3*3&3#- G.-#+ '/ ('/&,.(&@.* @/+3-('@/&#+ F.D=#/&- ..& 2#(#=G#, HId "R#Y
X'./- ./+ ,#(#3?.G*#-d <.-" ./+ (.-" #M@3?.*#/&-k !,.+# ,#(#3?.G*#-d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/R&"#, 7'/&,.+# ,#(#3?.G*#-d 6+?./(#- &' '113(#,./+ #=F*'D##R&"#,Q#1@/+.G*# +#F'-3&-kk 6P% 13/./(3.* .--#&R&"#, 13/./(3.* *3.G3*3&3#-d !,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#-kkk %"',&U&#,= *'./RG*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&23?3+#/+- F.D.G*# R&"#, *'/>U&#,= #=F*'D## G#/#13&-
-> 48@L>_
X8ZZ 9aL> $ &;>9aZ
$ 9; #" &;>9aZ
&;<8 9aL> # G8L<
+;9LK
[ V #0Y#"0R#$0N!#
V [ #!N0\YY0Q!$
V [I
V [I
V [#0!Q#0\!O0QRY
!!R0N#R0YO\ $"R0OQ\0Y"O YQ0$YO0#\Y
"0YQ$0Q\#0RRR Q#O0!#N0YY$ #""0R\N0!"Y
"\N0OQ"0!QR I Y0O"#0QR"
I I I
$0"NY0!YY0R!\ #0R$N0$N!0OQ# #QY0"$N0$NR
$N0RRR ##0NOR0YO# I "0$Y$0#\O0!#R I ["0$Y$0#\O0!#R V
Y0YRY0$O# QY0R\Q0YY" I $0!!"0Y\\0!Y$ I V [ $0!!"0Y\\0!Y$
I I I "QY0\NY0"Q" I V [ "QY0\NY0"Q"
I I #N0N#$0$YQ #N0N#$0$YQ #"N0R"Y0RO# V [#YO0N$Q0Y"O
Y0YY$0$O# O\0RYQ0N"$ #N0N#$0$YQ \0#NR0"Y"0\Q" #"N0R"Y0RO# V [\0$#N0"\\0Q!$
[ V Y"Q0!R#0#O$ I
V [ !RR0"N!0\\O $RR0RRR0RRR
V [\\0R!N0$!# #0N""0N\R0RRR
V [I I
V [NN$0O!\0"R" "0"""0N\R0RRR
I N0\NO0R$!
##\0!$$0##Y I
I I
!0#N$0""$ I
#"#0Q"\0$$Q N0\NO0R$!
I [ Y$Q0#NN0"#O V
I V [N#\0O"O0QO"
I V [ #0NON0R#N0$!#
"!N0R#"0NQN V ["\Y0"R\0"R"
"!N0R#"0NQN V [$0\RQ0"!$0!!$
JKIH
X'./- ./+ ,#(#3?.G*#-d <.-" ./+ (.-" #M@3?.*#/&-k %"',&U&#,= 3/?#-&=#/&!,.+# ,#(#3?.G*#-d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/R&"#, 7'/&,.+# ,#(#3?.G*#-d 6+?./(#- &' '113(#,./+ #=F*'D##R&"#,Q#1@/+.G*# +#F'-3&-kk 6P% 13/./(3.* .--#&-
R/ 2#=./+
X#-- &"./ H 5'/&"-
H &' IJ 5'/&"-
5',# &"./ I D#.,
!'&.*
O b I9LLI9JLH9ZZa c
O bJ\H9aLZ9L]a c
O bc ]9\]L9KKJ
b Oc c
b OI9]J[9IaK9IL\ ]9\]L9KKJ
ZZ\9I\a9IKI Ia\9KHJ9L[H c
I9]HI9JI]9JL[ []H9L[a9L]I IKZ9IH\9II]
JZa9\]J9[]K c a9aHa9ZJK
c c HK9\[K9I[J
J9ZZa9J]\9aIZ ]]I9LaI9aJL ILZ9aJ]9\\a
JKK JZ9ZJZ9JL[ c J9HHL9KaI9ZZ\ c bJ9HHL9KaI9ZZ\ O
L9ZJH9[IL LH9IJI9ZZK c J9]LJ9[KZ9L\Z c O b J9]LJ9[KZ9L\Z
c c c J\]9Z\Z9IaJ c O b J\]9Z\Z9IaJ
c c I[9Z]I9HKK LZ9[JI9L[J IH[9[[J9[L\ O bI\J9K]L9KKK
L9ZJH9]IL Za9]L]9aK[ I[9Z]I9HKK [9LIK9\K[9]a\ IH[9[[J9[L\ O b[9[LZ9H[\9HLZ
^P',8.,+_
!"#$%"&''()*!
U Z[ U
JKIH
R&"#, 13/./(3.* *3.G3*3&3#-d !,.+# F.D.G*#- ./+ '&"#, (@,,#/& *3.G3*3&3#-kkk %"',&U&#,= *'./RG*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&23?3+#/+- F.D.G*# R&"#, *'/>U&#,= #=F*'D## G#/#13&-
R/ 2#=./+
X#-- &"./ H 5'/&"-
H &' IJ 5'/&"-
5',# &"./ I D#.,
!'&.*
O b LH\9LLa9Z[L c
O bHLJ9\][9aJK I9IIH9J[]9a]a
O bHa9ZJJ9H[K c
O bc c
b O\JK9aL]9aJL I9IIH9J[]9a]a
c \9\Z\9ZJa
ILI9KaZ9L[Z c
c c
HH9HHK9IHK c
I]L9LJZ9[\Z \9\Z\9ZJa
c bLL]9HI\9J\H O
c O b I9[a]9JHK9H[[
c O b Ha9ZJJ9H[K
JZL9HZ\9K[] O bJa]9Za\9I\]
JZL9HZ\9K[] O bJ9H\I9\Za9I][
3&7"+,) 0977")%* J\%?$)," O+/^4 P',#3>/ (@,,#/(D #N("./># ,3-) 3- &"# ,3-) &".& &"# 1.3, ?.*@# ', 1@&@,# (.-" 1*'8- '1 . 13/./(3.* 3/-&,@=#/& 83** 1*@(&@.&# G#(.@-# '1 ("./>#- 3/ 1',#3>/ (@,,#/(D #N("./># ,.&#-; !"# 4,'@FS- #NF'-@,# &' 1',#3>/ (@,,#/(D #N("./># ,3-) ,#-@*&- 1,'= 3&- G@-3/#-&,./-.(&3'/- +#/'=3/.&#+ 3/ 1',#3>/ (@,,#/(3#-; :& 3- &"# 4,'@FS- F'*3(D &' #/-@,# &".& (.F.G3*3&3##N3-& 1', .(&3?# G@& ('/-#,?.&3?# =./.>#=#/& '1 3&- 1',#3>/ (@,,#/(D #N("./># ,3-);
!"# 4,'@FS- 1',#3>/ (@,,#/(DU+#/'=3/.&#+ ='/#&.,D .--#&- ./+ *3.G3*3&3#- .,# .- 1'**'8-d
"R#Y 'ZZ89Z <.-" ./+ (.-" #M@3?.*#/&!,.+# ,#(#3?.G*#-
X?LM?K?9?8Z !,.+# F.D.G*#%"',&U&#,= *'./RG*3>.&3'/- 1', F,'>,.= ./+ '&"#, ,3>"&-
m#O0"$$0R$! [ VO#!0$O#0$"! "Y0N$$0O#! #0##!0RYR0"RQ mY$0#\\0O!R [ V#0N$R0Y"#0!$"
m\#Y0$NO Y$0RRR0RRR
[ V"Q0YQ!0OQN #0N""0N\R0RRR
#0##Y0OY\ YN0O!!0N#$ mYY0Q"N0"YY [ V"0RRR0"N#0QN"
JKIH rII9\aa9L\Z O b[J\9HH]9I]a I]9aZK9aJZ ]a]9LZ[9IIL rJa9\ZK9LIJ O bI9HJ[9\KJ9JaH
rHK[9LIZ JL9aJa9ZI]
O bIH9[ZK9L]I I9IKZ9\][9KKK
I9LZ]9aaH Z[9I]\9\\a rJZ9]KH9KJZ O bI9I\[9ZIL9HZK
:/ &,./-*.&3/> &"# 1',#3>/ (@,,#/(DU+#/'=3/.&#+ ='/#&.,D .--#&- ./+ *3.G3*3&3#- 3/&' O"3*3FF3/# F#-' .='@/&-9 &"# #N("./># ,.&# @-#+ 8#,# bLL;]J O ./+ b OLL;LK &' e%rI;KK9 &"# O"3*3FF3/# F#-' &' e;%; +'**., #N("./># ,.&# .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; !"# 1'**'83/> &.G*# +#='/-&,.&#- &"# -#/-3&3?3&D &' . ,#.-'/.G*D F'--3G*# ("./># 3/ e%r #N("./># ,. 83&" .** '&"#, ?.,3.G*#- "#*+ ('/-&./&9 '1 &"# 4,'@FS- 3/('=# G#1',# 3/('=# &.N 1,'= ,#F',&3/> F#,3'+ @F &' /#N& ,#F',&3/> F#,3'+ ^+@# &' ("./>#- 3/ &"# 1.3, ?.*@# '1 ='/#&.,D .--#&./+ *3.G3*3&3#-_; !"#,# 3- /' 3=F.(& '/ &"# 4,'@FS- #M@3&D '&"#, &"./ &"'-# .*,#.+D .11#(&3/> F,'13& ', *'--;
"R#Y
JKIH
6FF,#(3.&3'/ ^2#F,#(3.&3'/_ '1 O b R3!R bR3!Rc K;[K ^K;[K_
A11#(& '/ :/('=# G#1',# :/('=# !.N [ V#0R$$0O!R b#0R$$0O!Rc ^O bHaL9Z]H_ HaL9Z]H
!"#$%"&''()*!
U ZZ U
5)."7"/. O$." O+/^ ; :/&#,#-& ,.&# ,3-) 3- &"# ,3-) &".& &"# 1.3, ?.*@# ', 1@&@,# (.-" 1*'8- '1 . 13/./(3.* 3/-&,@=#/& 83** 1*@(&@.&# G#(.@-# '1 ("./>#- 3/ =.,)#& 3/&#,#-& ,.&#-; !"# 4,'@FS- #NF'-@,# &' ("./>#- 3/ 3/&#,#-& ,.&#- 3- .&&,3G@&#+ &' (.-" ./+ (.-" #M@3?.*#/&- ./+ -"',&U&#,= *'./-;
!"# 4,'@FS- F'*3(D 3- &' =./.># 3&- 3/&#,#-& ('-& @-3/> . =3N '1 13N#+ ./+ ?.,3.G*# ,.&# +#G&-; !"# 1'**'83/> &.G*# +#='/-&,.&#- &"# -#/-3&3?3&D &' . ,#.-'/.G*D F'--3G*# ("./># 3/ 3/&#,#-& ,.&#-9 83&" .** '&"#, ?.,3.G*#- "#*+ ('/-&./&9 '1 &"# 4,'@FS- 3/('=# G#1',# 3/('=# &.N 1,'= ,#F',&3/> F#,3'+ @F &' /#N& ,#F',&3/> F#,3'+; !"#,# 3- /' 3=F.(& '/ &"# 4,'@FS- #M@3&D '&"#, &"./ &"'-# .*,#.+D .11#(&3/> F,'13& ', *'--;
<.-" ./+ (.-" #M@3?.*#/&-
A11#(& '/ :/('=# 0#1',# :/('=# !.N JKIH "R#Y ^O bJI9[ZL9\]]_ bV [#N0\Y!0Q$Yc JI9[ZL9\]] #N0\Y!0Q$Y
:/(,#.-# ^2#(,#.-#_ 3/ 0.-3- O'3/&[K ^[K_
%"',&U&#,= *'./-
[K ^[K_
b"Q0QOQ0RRRc "Q0QOQ0RRR
^IH9\H[9aH\_ IH9\H[9aH\
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
!"# &.G*# G#*'8 -"'8- &"# =.N3=@= #NF'-@,# &' (,#+3& ,3-) 1', &"# ('=F'/#/&- '1 &"# ('/-'*3+.&#+ 13/./(3.* F'-3&3'/ .- .& 2#(#=G#, HId "R#Y
X'./- ./+ ,#(#3?.G*#<.-" ./+ (.-" #M@3?.*#/&-k %"',&U&#,= 3/?#-&=#/&!,.+# ,#(#3?.G*#-d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/ R&"#, 7'/&,.+# ,#(#3?.G*#-d 6+?./(#- &' '113(#,- ./+ #=F*'D##R&"#, Q#1@/+.G*# +#F'-3&-kk 6P% 13/./(3.* .--#&-
[ V#0!Q#0\!O0QRY I
JKIH
b OI9]J[9IaK9IL\ ]9\]L9KKJ
$0R"Y0\Q#0YO\ J9Haa9LKZ9HLZ #0R$N0$N!0OQ# ]]I9LaI9aJL #\N0Y#Q0\OO ILJ9\JI9Z\J
L9ZJH9]IL Y0YY$0$O# O\0RYQ0N"$ Za9]L]9aK[ #N0N#$0$YQ I[9Z]I9HKK !0N#!0!YO0YRR [9IHZ9\J]9KJI #"N0R"Y0RO# IH[9[[J9[L\ O[9J]J9H]a9[Za V [\0RYY0!Q"0YO# b
k J\%192+), %$/? &) ?$)2 $'&9).+), .& aD]4S] M '+11+&) $)2 M aDF4FF '+11+&) $/ $. H"%"'6"7 bSG DESF $)2 DESbG 7"/("%.+P"1*4 <<5)%192"2 9)2"7 cI.?"7 )&)%977"). $//"./d $%%&9). +) .?" %&)/&1+2$."2 /.$."'")./ &8 8+)$)%+$1 (&/+.+&) U/"" -&." STK4
!"#$%"&''()*!
U Z] U
!"# (,#+3& M@.*3&D '1 13/./(3.* .--#&- 3- =./.>#+ GD &"# 4,'@F @-3/> "3>" >,.+# ./+ -&./+.,+ >,.+# .- 3/&#,/.* (,#+3& ,.&3/>-;
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
6- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 &"# (,#+3& M@.*3&D '1 &"# 4,'@FS- 13/./(3.* .--#&- 3- .- 1'**'8-d "R#Y )8?9a8< VLZ9 4C8 );< 1@JL?<8_ ^?A a %_L<_ %
X'./- ./+ ,#(#3?.G*#-d <.-" ./+ (.-" #M@3?.*#/&-k !,.+# ,#(#3?.G*#-d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/ R&"#,7'/&,.+# ,#(#3?.G*#-d 6+?./(#- &' '113(#,- ./+ #=F*'D## R&"#,Q#1@/+.G*# +#F'-3&-kk 6P% 13/./(3.* .--#&-
VLZ9 4C8 MC9 >;9 1 @JL ?<8_
+;9LK
V [#0!Q#0\!O0QRY
V [I
V [I
V [#0!Q#0\!O0QRY
"\ N0 OQ "0!Q R I Y0O"#0QR"
# 0OQ R0" QY0 "O # YY$0QO#0Y\Y O#0N\Q0"\$
OO Y0 !" Y0 \$ ! !N!0\#Y0YRQ O"0\"O0Q"$
$ 0R" Y0\ Q#0 YO \ #0R$N0$N!0OQ# #\N0Y#Q0\OO
I I #N0N#$0$YQ #0O\\0"\\0$"$ #"N0R"Y0RO# V [#0NN!0"NR0YRY
Y0YRY0$O# Q#0\"Q0\Q" I "0YQ"0R!!0R\# I V ["0YQ"0R!!0R\#
$N0RRR #Y0Y"R0"!# I #0!QQ0""Q0R#\ I V [#0!QQ0""Q0R#\
Y0YY$0$O# O\0RYQ0N"$ #N0N#$0$YQ !0N#!0!YO0YRR #"N0R"Y0RO# V [\0RYY0!Q"0YO#
JKIH 7#3&"#, O.-& 2@# 7', : =F.3,#+ m3>" 4,.+# %&./+.,+ 4,.+# X'./- ./+ ,#(#3?.G*#-d <.-" ./+ (.-" #M@3?.*#/&-k %"',&U&#,= 3/?#-&=#/&!,.+# ,#(#3?.G*#-d !#*#?3-3'/ ./+ ,.+3' .3,&3=# %@G-(,3F&3'/R&"#,7'/&,.+# ,#(#3?.G*#-d 6+?./(#- &' '113(#,- ./+ #=F*'D##R&"#,Q#1@/+.G*# +#F'-3&-kk 6P% 13/./(3.* .--#&-
O.-& 2@# G@& /'& :=F.3,#+
!'&.*
b OI9]J[9IaK9IL\ ]9\]L9KKJ
b Oc c
b Oc c
b OI9]J[9IaK9IL\ ]9\]L9KKJ
JZa9\]J9[]K c c
I9KHL9\I[9JKI L]a9Z[a9aHK \\9ZJJ9Z]a
I9KaL9]I\9[][ JaI9\HI9aaL [L9Iaa9KKH
J9Haa9LKZ9HLZ ]]I9LaI9aJL ILJ9\JI9Z\J
c c I[9Z]I9HKK J9KI\9ZK\9KJK IH[9[[J9[L\ b J9I[L9IZK9[Z\ O
L9ZJH9[IL H[9ZHZ9LLa c I9ZLH9H[]9]]H c b O I9ZLH9H[]9]]H
JKK HL9III9L[Z c I9L]L9\ZI9JJ\ c b O I9L]L9\ZI9JJ\
L9ZJH9]IL Za9]L]9aK[ I[9Z]I9HKK [9IHZ9\J]9KJI IH[9[[J9[L\ b O[9J]J9H]a9[Za
!"#$%"&''()*!
U Z\ U
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bJ9JJJ;aZ =3**3'/ ./+ b O OI9IKZ;\] =3**3'/ .- .& 2#(#=G#, HI9 JKIL ./+ JKIH9 ,#-F#(&3?#*D; !"# 4,'@FS- &'&.* #M@3&D .&&,3G@&.G*# &' #M@3&D "'*+#,- '1 &"# O.,#/& <'=F./D .- .& 2#(#=G#, HI9 JKIL ./+ JKIH .='@/&#+ &' b O\9IaK;L] =3**3'/ ./+ b O\9]\\;LJ =3**3'/9 ,#-F#(&3?#*D;
HI; HL?< dLKC8 &8LZC<8@8>9 !"# &.G*# G#*'8 F,#-#/&- &"# (.,,D3/> ?.*@#- ./+ 1.3, ?.*@#- '1 &"# 4,'@FS- .--#&- ./+ *3.G3*3&3#-9 GD (.&#>',D ./+ GD (*.--9 .- .& 2#(#=G#, HId "R#Y HL?< dLKC8 EC;98_ V 5?A>?`?DL>9 'D9?B8 &L<=89Z -MZ8JC9 2L<A dLKC8 bX8B8K #c bX8B8K "c 'ZZ89Z X'./- ./+ ,#(#3?.G*#- U Q#1@/+.G*# +#F'-3&-k 6P% 13/./(3.* .--#&:/?#-&=#/& F,'F#,&3#X./+ .& ,#?.*@#+ .='@/&
X?LM?K?9G R&"#, 13/./(3.* *3.G3*3&D U 7'/(@,,#/& F',&3'/ '1 'G*3>.&3'/ 1', F,'>,.= ./+ '&"#, ,3>"&-
[ V#N0N#$0$YQ !0RRN0RRR !O0O##0$R\ $Y\0!R"0O#Q [ Y$R0"$\0YQR V
V [I \0OYR0RRR I I V [\0OYR0RRR
V [I I I I V [I
[ V!0#N$0""$
V [I
V [I
5?A>?`?DL>9 6>;MZ8JC9Z bX8B8K $c
V [#O0#YY0Y#\ I #$!0$NR0YQN #0Y!$0"#R0RY# V [#0\R\0QYY0N$\
V [\0!"\0$YR
<5)%192"2 9)2"7 cI.?"7 )&)%977"). $//"./d $%%&9). +) .?" %&)/&1+2$."2 /.$."'")./ &8 8+)$)%+$1 (&/+.+&) U/"" -&." STK4
!"#$%"&''()*!
U Za U
JKIH P.3, W.*@# B@'&#+ O,3(#- 3/ %3>/313(./& 6(&3?# 5.,)#&- RG-#,?.G*# :/F@& <.,,D3/> W.*@# ^X#?#* I_ ^X#?#* J_ 6--#&X'./- ./+ ,#(#3?.G*#- U Q#1@/+.G*# +#F'-3&-k 6P% 13/./(3.* .--#&:/?#-&=#/& F,'F#,&3#-
X3.G3*3&D R&"#, 13/./(3.* *3.G3*3&D U 7'/(@,,#/& F',&3'/ '1 'G*3>.&3'/ 1', F,'>,.= ./+ '&"#, ,3>"&-
%3>/313(./& e/'G-#,?.G*# :/F@&^X#?#* H_
b OI[9Z]I9HKK J9]K\9KKK ZK9[HJ9JKa b]\9aII9[Ka O
b Oc L9\aK9KKK c b OL9\aK9KKK
b Oc c c b Oc
b OIL9\\[9\L[ c IHH9ZZZ9JKK b OIL\9[[J9KL[
bHH9HHK9IHK O
b Oc
b Oc
b OHL9ZZH9JL]
<5)%192"2 9)2"7 cI.?"7 )&)%977"). $//"./d $%%&9). +) .?" %&)/&1+2$."2 /.$."'")./ &8 8+)$)%+$1 (&/+.+&) U/"" -&." STK4
2@,3/> &"# D#.,- #/+#+ 2#(#=G#, HI9 JKIL ./+ JKIH9 &"#,# 8#,# /' &,./-1#,- G#&8##/ *#?#*- '1 1.3, ?.*@# =#.-@,#=#/&; !"#,# .,# /' 13/./(3.* 3/-&,@=#/&- (*.--313#+ @/+#, *#?#*- I ./+ J; P.3, W.*@# 2#&#,=3/.&3'/ !"# 1'**'83/> =#&"'+- ./+ .--@=F&3'/- .,# @-#+ &' #-&3=.&# &"# 1.3, ?.*@# '1 #.(" .--#& ./+ *3.G3*3&D 1', 8"3(" 3& 3- F,.(&3(.G*# &' #-&3=.&# -@(" ?.*@#d <.-" ./+ <.-" AM@3?.*#/&-9 %"',&U&#,= :/?#-&=#/&- ./+ !,.+# ./+ 7'/&,.+# Q#(#3?.G*#!"# (.,,D3/> ?.*@#- '1 (.-" ./+ (.-" #M@3?.*#/&-9 -"',&U&#,= 3/?#-&=#/&- ./+ &,.+# ./+ /'/&,.+# ,#(#3?.G*#- .,# &"# .FF,'N3=.&# 1.3, ?.*@#- F,3=.,3*D +@# &' &"# ,#*.&3?#*D -"',&U&#,= =.&@,3&D '1 &"#-# 13/./(3.* 3/-&,@=#/&-; Q#1@/+.G*# 2#F'-3&!"# 1.3, ?.*@# '1 ,#1@/+.G*# +#F'-3&- 3- G.-#+ '/ &"# F,#-#/& ?.*@# '1 &"# 1@&@,# +3-('@/&#+ (.-" 1*'8-; 23-('@/& ,.&#- @-#+ ,./># 1,'= H;ZLj &' L;\Hj 3/ JKIL ./+ K;]Hj &' J;IHj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f', '11#,#+ 83&" (*'-# F,'N3=3&D &' &"# -@GT#(& F,'F#,&D .+T@-&#+ G.-#+ '/ (#,&.3/ #*#=#/&- '1 ('=F.,3-'/ ^#;>; =.,)#& ('/+3&3'/-9 *'(.&3'/9 F"D-3(.* ('/+3&3'/ ./+ .=#/3&3#-_; %3>/313(./& @/'G-#,?.G*# ?.*@.&3'/ 3/F@& 3/ +#&#,=3/3/> &"# 1.3, ?.*@# '1 3/?#-&=#/& F,'F#,&3#- 3/(*@+#- .+T@-&#+ F,3(# F#, -M@.,# =#&#, &".& ,./>#- 1,'= b OaKK &' b OII\9aL[; X./+ .& Q#?.*@#+ 6='@/& !"# ?.*@.&3'/ 1', *./+ 8.- +#,3?#+ &",'@>" =.,)#& +.&. .FF,'.(" G.-#+ @F'/ F,3(#- F.3+ 3/ .(&@.* =.,)#& &,./-.(&3'/-; !"3- .FF,'.(" ,#*3#- '/ &"# ('=F.,3-'/ '1 ,#(#/& -.*# &,./-.(&3'/- ', '11#,3/>- '1 -3=3*., F,'F#,&3#- 8"3(" ".?# '((@,,#+ ./+f', '11#,#+ 83&" (*'-# F,'N3=3&D &' &"#
!"#$%"&''()*!
U ]K U
-@GT#(& F,'F#,&D .+T@-&#+ G.-#+ '/ (#,&.3/ #*#=#/&- '1 ('=F.,3-'/ ^#;>; =.,)#& ('/+3&3'/-9 *'(.&3'/9 F"D-3(.* ('/+3&3'/ ./+ .=#/3&3#-_; %3>/313(./& @/'G-#,?.G*# ?.*@.&3'/ 3/F@& 3/ +#&#,=3/3/> &"# 1.3, ?.*@# '1 *./+ .& ,#?.*@#+ .='@/& 3/(*@+#- .+T@-&#+ F,3(# F#, -M@.,# =#&#, &".& ,./>#- 1,'= b OJKK &' b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j 3/ JKIL ./+ J;IKj 3/ JKIH;
HJ; -9a8< &L998 .(&3?3&D 1', &"# D#., #/+#+ 2#(#=G#, HI9 JKIH ('/-3-&- '1 3/(,#.-# 3/ 3/?#-&=#/& 3/ OAO '1 b OIJ;KK =3**3'/ 8"3(" 8.- -#&&*#+ &",'@>" ('/?#,-3'/ '1 .+?./(#- '1 475: &' OAO ^-## 7'&# II_; 5',#'?#,9 /'/(.-" &,./-.(&3'/ @/+#, 3/?#-&3/> .(&3?3&3#- F#,&.3/- &' &"# ,#?.*@.&3'/ '1 *./+ (,#+3&#+ &' &"# gQ#?.*@.&3'/ 3/(,#=#/& '/ *./+ U /#& '1 &.Nh .(('@/& @/+#, #M@3&D; 2#&.3*- '1 &"# ,#?.*@.&3'/ '1 *./+ .,# 1@,&"#, +3-(@--#+ 3/ 7'&# IH; !"3- .*-' ('/-3-&- '1 &"# 3/(,#.-# 3/ 6P% 13/./(3.* .--#&- .='@/&3/> &' bJJ;IH O =3**3'/ 8"3(" 3.&&,3G@&.G*# &' &"# +3?3+#/+- +#(*.,#+ GD e/3(.F3&.* &' &"# O.,#/& <'=F./D; A?#/&- .1&#, Q#F',&3/> O#,3'+ R/ 5.,(" HK9 JKI[9 &"# 0R2 .FF,'?#+ &"# O.,#/& <'=F./DS- +#(*.,.& 3'/ ./+ +3-&,3G@&3'/ '1 (.-" +3?3+#/+- .='@/&3/> &' b OK;J[ F#, -".,# &'&.*3/> b OI9JIZ;I[ =3*3'/ &' .** -&'()"'*+#,- '1 ,#(',+ ..& 6F,3* JL9 JKI[ ./+ 83** G# F.3+ '/ 5.D Ia9 JKI[;
!"#$%"&''()*!
/:-;< ="##67 >6?3:" @ -"A BCBD $:3?3 $E61F6 GHHB 03I32; -;2: 5J;?;<<;167
(6?K LBMHN OPG DMDC +3QK LBMHN OGP DOCH 6:A4"RS
TU$S5V- V6WA ,"A DDDGX &646RY6# HOX HDGHX E3?;9 F12;? &646RY6# MGX HDGZ /)- $44#69;232;"1 ,"A DDGH[+V[M L=#"F< $NX ,"E6RY6# GZX HDGHX E3?;9 F12;? ,"E6RY6# GBX HDGZ
1)4*V*)4*)+ '641+-.5W .*V-.+ -) 56VVX*&*)+'.T 52^*46X*5
!"# %&'()"'*+#,- ./+ &"# 0'.,+ '1 23,#(&',456 7#&8',)9 :/(; 456 7#&8',) <#/&#, !3='> 6?#/@# (',/#, A2%6 B@#C'/ <3&D
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
%V<:O 4RQQA% WAX6VR Y
5.,D+3&" <; 53>@#* O.,&/#,
!"#$%"&''()*! $ R6RY6# !;#R "! )#172 @ \"F1W =?"Y3? .;R;269
%&' )*+,-./0 1)23 ')4 5675141'.1*5 1)4*e +- +^* 2-)5-X14'+*4 H1)')21'X 5+'+*&*)+5 ')4 56VVX*&*)+'.T 52^*46X*5 4*2*&7*. $#0 "R#Y
'>>8k \O P *
6; P3/./(3.* 6--#&-
6&&.("#+
0; 6='@/&- Q#(#3?.G*# 1,'= 23,#(&',-9 R113(#,-9 A=F*'D##-9 Q#*.&#+ O.,&3#- 7'& .FF*3(.G*# ./+ O,3/(3F.* %&'()"'*+#,- ^R&"#, &"./ Q #*.&#+ O.,&3#-_ <; 6='@/&- Q#(#3?.G*# 1,'= Q#*.&#+ O.,&3#- 8"3(" .,# A*3=3/.&#+ +@,3/> &"# <'/-'*3+.&3'/ '1 P3/./(3.* %&.&#=#/&-
6&&.("#+
2; :/&./>3G*# 6--#&- ./+ R&"#, 6--#&-
6&&.("#+
A; X'/>U&#,= 2#G&
7'& .FF*3(.G*#
P; :/+#G&#+/#-- &' Q#*.&#+ O.,&3#- ^X'/>U&#,= X'./- 1,'= Q#*.&#+ <'=F./3#-_
7'& .FF*3(.G*#
4; 4@.,./&##- '1 %#(@,3&3#- '1 R&"#, :--@#,-
7'& .FF*3(.G*#
m; <.F3&.* %&'()
6&&.("#+
'__?9?;>LK 2;@J;>8>9Z
3_
Q#('/(3*3.&3'/ '1 Q#&.3/#+ A.,/3/>- 6?.3*.G*# 1', 23?3+#/+ 2#(*.,.&3'/
6&&.("#+
33_ X3-& '1 O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+- A11#(&3?# .- .& 2#(#=G#, HI9 JKIL
6&&.("#+
333_ 5.F '1 Q#*.&3'/-"3F- '1 &"# <'=F./3#- 83&"3/ &"# 4,'@F
6&&.("#+
3?_ %("#+@*# '1 P3/./(3.* Q.&3'-
6&&.("#+
%&' )*+,-./0 1)23 ')4 5675141'.1*5 56VVX*&*)+'.T 52^*46X*5 .*E61.*4 7T '))*e \OP* 4*2*&7*. $#0 "R#Y 5Da8_CK8 '3 H?>L>D?LK 'ZZ89Z
7.=# '1 :--@3/> A/&3&D ./+ 6--'(3.&3'/ '1 A.(" :--@# 2LZa L>_ DLZa 8]C?BLK8>9Z <.-" 3/ 0./)O#-' O*.(#=#/&-d 6G.(@- <.F3&.* Y :/?#-&=#/& <',F',.&3'/ O"3*3FF3/# 7.&3'/.* 0./) 5.*.D./ 0./) e/3(.F3&.*9 :/(; 5#&,'G./) O"3*3FF3/# 0./) '1 <'==@/3(.&3'/6-3. e/3&#+ 0./) e
'BL?KLMK8P`;B8Z9@8>9Z e/3(.F3&.*9 :/(; 5.G@".D O"3*3FF3/#- %.&#**3&# RF&3=. %&@+3' 5./3*. A*#(&,3( <'=F./D -".,#6D.*. 6*.G./> <'@/&,D <*@G U 6 5#&,'F'*3&./ <*@G ^5#&,'(*@G_ 6 0.>@3' <'@/&,D <*@G 5./3*. %'@&"8''+- 6 <.=F `'"/ m.D 4'*1 <*@G Q##1F'3/& O3(&@,# Q'D.*# !.>.D&.D ^!.>.D&.D <'@/&,D <*@G_ !' Q#-#.,(" <'@/(3*
7@=G#, '1 %".,#- ', 6='@/& %"'8/ 3/ &"# O,3/(3F.* 6='@/&- '1 %&.&#=#/&- '1 0'/+- ./+ 7'&#P3/./(3.* O'-3&3'/
W.*@# 0.-#+ '/ 5.,)#& B@'&.&3'/ .& #/+ '1 Q #F',&3/> Q#,3'+
:/('=# Q#(#3?#+ ./+ 6((,@#+
c
O bI9LIJ9KIH9a[I
O bc
b OL9]Z\9KL[
c c c c c c c c c c
ZH9IL\9]Ja II9H]\9a[[ c JK9JZK9\][ J9[aL9K[L c c c c a]9H\J9ZIH
c c c c c c c c c c
Z9[HL9]LZ ZK9LIa aLa9KIH \J\9H\\ J[L9aH[ [HI9]L] LZK9L\L aa9\ZK JLK9KKK a9a[a9[aJ
c c c c c
Z9LZL9ZZL HI9HLa9K\J JL9LL\9HaL ZJ9JZJ9ILK I[a9ZLL9][H bI9[]I9Z[\9]KL O
c c c c c O bc
a\9\[] H[J9\\I LZI9[Z] aIH9HK[ IK9\]J9\a] b OI[9ZLK9aLJ
c c c L[9IK\ I \ I I I c
b O][9IKa9\KK Ja9KKK9KKK II9KJH9I[Z ]9LZ]9JKK J9HKK9KKK J9JKK9KKK I9Z[K9KKK LKK9KKK IJK9KKK JIZ9aJ[
O bc c c c J9HKK9KKK J9JKK9KKK I9Z[K9KKK LKK9KKK IJK9KKK c
b OI]9aKH9HKK c c c c c c c c c
J c L[9IJJ
I]K9KKK I9KKK O bIJa9Z[\9K\I
I]K9KKK c O bZ9\LK9KKK
c c O bI]9aKH9HKK
5Da8_CK8 73 '@;C>9Z .8D8?BLMK8 `<;@ 4?<8D9;_ VD?JLK 59;D=a;K_8 .8KL98_ VL<9?8Zc 48D8@M8< $#0 "R#Y
7.=# ./+ 2#-3>/.&3'/ '1 2#G&',
0.*./(# .& 0#>3//3/> '1 O#,3'+
6++3&3'/-
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ E,3&&#/ R11
<@,,#/&
7'/ <@,,#/&
0.*./(# .& A/+ '1 O#,3'+
);9 'JJK?DLMK8f !"# <'=F./D ".- /' .='@/&- ,#(#3?.G*# 1,'= +3,#(&',-9 '113(#,-9 #=F*'D##-9 ,#*.&#+ F.,&3#- ./+ F,3/(3F.* -&'()"'*+#,- .- .& 2#(#=G#, HI9 JKIL;
5Da8_CK8 23 '@;C>9Z ;` .8D8?BLMK8 `<;@ L>_ VLGLMK8 9; .8KL98_ VL<9?8Z :a?Da L<8 *K?@?>L98_ _CA 9a8 2;>Z;K?_L9?;> ;` H?>L>D?LK 59L98@8>9Z 48D8@M8< $#0 "R#Y
B1.$ M7&29%.+&)/ 0&'($)*G 5)%4 UB1.$K
6(('@/& Q#(#3?.G*#O.D.G*#+;9LK
`./@.,D I9 JKIL b OI9LKa9]IK ^[9J[K9aZ]_ bV [ $0OY#0"!Qc
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ ^O bI9JZZ9J[[_ b Oc L9L]J9Jaa c [ V$0"R\0RYY [ VI
<@,,#/& b OILH9L[[ ^a9[]a9\KJ_ bV [ N0Y$\0$YQc
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b Oc b OILH9L[[ ^]]\9ZZ\_ ^IK9H[\9L]K_ bV [QQO0\\Oc bV [#R0"#!0R#!c
6++3&3'/b O]9JaL9LJ] c LI9[]H [ VQ0$$\0RRR
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ ^O b a9[KK9HZH_ b OJ9IaI9IIZ c ^\aa9\KK_ J9LZL9KKK c bV [ Q0R$\0$\$c [ V#0"N#0$#\
<@,,#/& b Oc c c [ VI
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b Oc b Oc c c ^JKK9KKK_ ^JKK9KKK_ bV ["RR0RRRc bV ["RR0RRRc
6++3&3'/b Oc c I\9KZ[9HLI c c [ V#O0R\!0$Y#
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ b Oc b Oc c ^aI9aIL9JK[_ ^[[9KLI9I[\_ aI9aIL9JK[ [a9[Ja9HJI ^[9H]Z9L]L_ c [9H]Z9L]L [ VY0YOO0#\$ [ VI
6++3&3'/b Oc ^a9[]a9\KJ_ bV [ N0!QN0OR"c
0+.*)". -".>&7^ A$7^".+), $)2 M7&29%.+&)/G 5)%4 U0+.*)".K
6(('@/& Q#(#3?.G*#2@# 1,'= <3&D/#& O.D.G*#+;9LK
`./@.,D I9 JKIL b OIL9\JK \aa9\KK ^J9]K[9[]H_ bV [#0QNR0N!$c
@AB -".>&7^G 3+1'/G 5)%4 U@-35K
6(('@/& 6+?./(#- &' 47P: 2@# 1,'= 47P: Q#(#3?.G*#O.D.G*#2@# &' 47P: +;9LK
`./@.,D I9 JKIL b OLL9[II9HIL aI9aIL9JK[ IK9LL]9Ka] ^[a9\IJ9\JI_ ^[9H]Z9L]L_ [ VO#0\O$0$"#
<,7&// &8 aDGSgSGSSe M $11&>$)%" 8&7 +'($+7'").4
<@,,#/& b Oc c I\9KZ[9HLJ ^[9Z[a9a]L_ c [ V#"0YR!0$\O
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b OLL9[II9HIL b OLL9[II9HILk c c L]9HJK9ILH Z[9H\[9L\[ c ^[9Z[a9a]L_ c c [ VN#0O$#0Y!Q [ V#RY0"$\0O"!
@AB A$7^".+), $)2 M7&29%.+&)/G 5)%4 U@AM5K
6(('@/& Q#(#3?.G*#2@# 1,'= 45O: O.D.G*#+;9LK
`./@.,D I9 JKIL b OI9IK[9a\J JJL9JJZ ^L\9HZ]9a][_ bV [ YQ0R$Q0Q\Qc
6++3&3'/b OH9\I[9[HZ c ^[HK9[Ja9\\Z_ bV [!"\0Q#Y0$!Rc
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ <@,,#/& ^O bH9Z]L9aL\_ b OJJL9JJZ b OI9L]K9]aZ c ^JJL9JJZ_ c H\a9aaL9Kaa c ^I\\9aKH9]ZJ_ [ V$O\0$#N0#!# [ VI bV [b#OQ0Y$"0N\\c
7'/ <@,,#/& b Oc c c [ VI
2#(#=G#, HI9 JKIL b OI9L]K9]aZ c ^I\\9aKH9]ZJ_ bV [#OQ0Y$"0N\\c
@AB -"> A"2+$G 5)%4 U@-A5K
6(('@/& 6+?./(#- &' 475: Q#(#3?.G*#2@# 1,'= 475: O.D.G*#+;9LK
`./@.,D I9 JKIL b OH[9[JL9\LZ HK9ZH]9H[I II9Z\[9]Za ^H\9HI]9I]]_ [ V $N 0! $R 0Q ON
6++3&3'/b Oc LK9K\K9aJI c ^]Z9[I[9\aJ_ b[$\0Y$Y0NQ#c V
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ b Oc b Oc ^IZ9I]K_ II9Z\[9]Za c ^II9Z\[9]Za_ ZH9IK[9Z\] c [ V\$0RON0!#Q VI
<@,,#/& b Oc LK9K\K9aJI c ^[I9]J]9H\J_ bV [ ##0\Y\0Y\#c
6++3&3'/b Oa9aKZ9]\J c ^ JH9\[\9L\[_ b[#$0N!#0QR$c V
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ ^O bIK9aIa9HLL_ b OLII9\JK c ^LII9\JK_ J[9aKI9\KH c [ V#Y0NO"0Y!N [ VI
<@,,#/& b OJ9]ZZ9HaI c ^II9IaI9[J\_ bV [O0Y"!0#$Qc
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b OH[9[JL9\LZ b OH[9[JL9\LZ LJ9HKZ9a[K \J9H\]9\]I c c c ^[I9]J]9H\J_ [ VQQ0O$#0QN\ [ V\\0#O!0$$!
@AB h&712>+2" UM?+1+((+)"/KG 5)%4 U@h5K
6(('@/& Q#(#3?.G*#2@# 1,'= 4E: O.D.G*#+;9LK
`./@.,D I9 JKIL b OH9HZ]9IHH LII9\JK ^IH9JHL9\LZ_ bV [ N0Y !! 0O N$c
7'/ <@,,#/& b Oc c c [ VI
2#(#=G#, HI9 JKIL b OJ9]ZZ9HaI c ^II9IaI9[J\_ bV [O0Y"!0#$Qc
O@AB A$7^".+), i M7&29%.+&)/G 5)%4 U@AB O"%&72/K
6(('@/& 6+?./(#- &' 456 Q#(',+Q#(#3?.G*#2@# 1,'= 456 Q#(',+O.D.G*#+;9LK
`./@.,D I9 JKIL
6++3&3'/-
b OJK9\KZ9JIZ H9I[Z9[ZJ H9\Z]9IKJ ^H9H\L9\JK_ [ V"Y0YY!0R\R
b Oc c c c [ VI
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+
<@,,#/&
7'/ <@,,#/&
b Oc I9LJI9[\J ^H9\Z]9IKJ_ J9LL[9[JK [ VI
b Oc c c c [ VI
b OJK9\KZ9JIZ H9ZII9\a[ c c [ V"Y0Y#O0###
b OJK9\KZ9JIZ H9ZII9\a[ c c [ V"Y0Y#O0###
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ b Oc b Oc ^IH9LI]9J\H_ I9ZK]9]a\ c ^I9ZK]9]a\_ H\9]Ja9IHH ^I9]KK9]JZ_ c I9]KK9]JZ [ V"!0$##0O!R [ VI
<@,,#/& b OJI[9\]L c c c c [ V "#!0OQY
7'/ <@,,#/& b O]a\9JIZ IJ9]HH9LaH c c c [ V#$0!$#0QRN
2#(#=G#, HI9 JKIL b OI9KIL9KaK IJ9]HH9LaH c c c [ V#$0QYQ0!O$
b Oc ^aZZ9JLa_ c aHa9HKK bV ["\0NYNc
2#(#=G#, HI9 JKIL
!%")$7+&/G 5)%4 U!%")$7+&/K
6(('@/& `./@.,D I9 JKIL 6+?./(#- &' %(#/.,3'b O]a\9JIZ Q#(#3?.G*# JL9[LJ9a]\ 2@# 1,'= %(#/.,3' I9ZK]9]a\ O.D.G*# ^H]9KJ\9LK]_ 2@# &' %(#/.,3' ^I9]KK9]JZ_ +;9LK bV [ ##0QOR0#Y#c
6++3&3'/b OJI[9\]L
c c c c [ V"#!0OQY
!%7+(.DESEG 5)%4 U!%7+(.DESEK
6(('@/& 2@# 1,'= %(,3F&JKIK Q#(#3?.G*#O.D.G*#+;9LK
`./@.,D I9 JKIL b OIH9J\J9JLJ c ^JZ9KKa9]Ha_ bV [ #"0Q"Q0YNQc
6++3&3'/b Oc Z9]JH9\Z\ ^IIH9a\H9a]I_ bV [#RQ0"\R0#R$c
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ b Oc ^O bIH9J\J9JLJ_ ^aaI9[I[_ IH9J\J9JLJ IH]9Z\Z9[\I c [ V#$\0\N!0R\\ [ VI
<@,,#/& c Z9]JH9\Z\ ^J9HK]9IJa_ [ V Y0Y #\ 0Q $N
7'/ <@,,#/& b Oc IJ9JaK9]J] c [ V #"0"NR0Q"Q
2#(#=G#, HI9 JKIL c Ia9KIL9[a[ ^J9HK]9IJa_ #\0QRQ0Y\\
A"2+$ A"7," 0&7(&7$.+&) UAAK
6(('@/& 2@# 1,'= 55 Q#(#3?.G*#O.D.G*#+;9LK
`./@.,D I9 JKIL O bH9ZI]9[L] c ^IZ9HZL9J\\_ bV [ #"0QY\0QY#c
6++3&3'/b Oc \9]HI9a]I ^IL9KLI9aKZ_ bV [ !0 $R N0N $!c
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ b Oc ^O bH9ZI]9[L]_ ^Ha[9IJK_ H9ZI]9[L] IZ9ILa9HIJ c [ V#!0Q!Y0#N" VI
<@,,#/& b Oc \9HHZ9\[I ^IL9KLI9aKZ_ ^O b!0QR!0R!!c
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b Oc b Oc H9ZI]9[L] II9a[L9Ha\ ^JIL9a]Z_ ^IL9J[Z9\\J_ V [ $0YR"0!Q# b"0$R"0YOYc
<@,,#/& b Oc ^IK9KL]9]aI_ bV [ #R0RYQ0QN#c
7'/ <@,,#/& 2#(#=G#, HI9 JKIL b OI\9J\H9JLZ b OI\9J\H9JLZ c ^IK9KL]9]aI_ [ V#O0"O$0"Y\ [ VO0"$!0Y!!
O@AB -".>&7^G 5)%4 UO@AB -".>&7^K
6(('@/& Q#(#3?.G*#O.D.G*#+;9LK
`./@.,D I9 JKIL b OL[9a\]9]IK ^Ja9\K\9\La_ [ V #\ 0# QO 0O \#
6++3&3'/b Oc ^ILZ9aaa9aJK_ b[#Y\0NNN0N"Rc V
2#+@(&3'/6='@/& 6='@/& <'**#(&#+ Q#(*.--313#+ ^O bJ]9]KL9LZL_ b Oc IZZ9]ZK9a]\ c [ V#$N0R!\0!#Y [ VI
5Da8_CK8 43 1>9L>A?MK8 'ZZ89 P -9a8< 'ZZ89 48D8@M8< $#0 "R#Y
2#-(,3 F&3 '/ O,'>,.= ./+ 13*= ,3>"&%&',D 1',=.& ,3>"&%'1&8.,# ('-&
0#>3//3/> G.*./(# O b I9IaJ9ZIH9\[I IZ9ZI[9LHK H]9Z[L9KL[ b I9JLZ9\\H9HJZ O
6++3&3'/- .& ('-& O b ZHI9KH[9J\\ \9IKK9a[K JI9ZHJ9K[\ O b ZZK9]Z\9JaZ
<".,># &' ('-& ./+ #NF#/-#^b OZH]9ZKL9IL]_ ^a9K]Z9Z[J_ ^JH9HZa9KII_ ^b OZ]K9KLa9\IK_
6='@/& 8,3&&#/ '11 ^O b H9LIL9KIL_ c c ^O b H9LIL9KIL_
A/+3/> G.*./(# O bI9I\J9ZHK9a\I I[9ZHa9]J\ H[9aI]9KaJ O bI9JHL9I\]9\KI
5Da8_CK8 *3 X;>AP+8<@ 48M9 48D8@M8< $#0 "R#Y
!3&*# '1 :--@# ./+ !DF# '1 RG*3>.&3'/
6='@/& 6@&"',3C#+ GD :/+#/&@,#
6='@/& -"'8/ @/+#, (.F&3'/ g<@,,#/& F',&3'/ '1 *'/> &#,= +#G&h 3/ ,#*.&#+ G.*./(# -"##&
6='@/& -"'8/ @/+#, (.F&3'/ gX'/> &#,= +#G&h 3/ ,#*.&#+ G.*./(# -"##&
);9 'JJK?DLMK8f !"# <'=F./D ".- /' *'/>U&#,= +#G& .- .& 2#(#=G#, HI9 JKIL;
5Da8_CK8 H3 1>_8M98_>8ZZ 9; .8KL98_ VL<9?8Z bX;>AP+8<@Z `<;@ .8KL98_ 2;@JL>?8Zc 48D8@M8< $#0 "R#Y
0.*./(#9 `./@.,D I9 JKIL
7.=#
0.*./(#9 2#(#=G#, HI9 JKIL
);9 'JJK?DLMK8f !"# <'=F./D ".- /' 3/+#G&#+/#-- &' . ,#*.&#+ F.,&D .- .& 2#(#=G#, HI9 JKIL;
5Da8_CK8 %3 %CL988Z ;` 58DC
7.=# '1 :--@3/> A/&3&D '1 %#(@,3&3#- 4@.,./&##+ GD &"# <'=F./D 1', 8"3(" &"3- -&.&#=#/& 3- 13*#+
!3&*# '1 :--@# '1 !'&.* 6='@/& A.(" <*.-- '1 4@.,./&##+ %#(@,3&3#./+ 4@.,./&##+ R@&-&./+3/>
6='@/& R8/#+ GD O#,-'/ 1', 8"3(" &"# %&.&#=#/& 3- P3*#+
7.&@,# '1 4@.,./&##
);9 'JJK?DLMK8f !"# <'=F./D ".- /' >@.,./&##- '1 -#(@,3&3#- '1 '&"#, 3--@#,- .- .& 2#(#=G#, HI9 JKIL;
5Da8_CK8 ^3 2LJ?9LK 59;D= 48D8@M8< $#0 "R#Y
7@=G#, '1 !3&*# '1 -".,#3--@# .@&"',3C#+ <'=='/ [9KKK9KKK9KKK O,#1#,,#+ ]9[KK9KKK9KKK
7@=G#, '1 7@=G#, '1 -".,#-".,#-".,#3--@#+ ./+ ,#-#,?#+ '@&-&./+3/> .- 1', 'F&3'/-9 -"'8/ @/+#, 8.,,./&-9 23,#(&',-9 ,#*.&#+ -&.&#=#/&('/?#,-3'/ 7@=G#, '1 '113(#,-9 '1 13/./(3.* ./+ '&"#, -".,#- "#*+ GD ./+ F'-3&3'/ (.F&3'/ ,3>"&- ,#*.&#+ F.,&3#- #=F*'D##H9HZI9KL]9KKKk 76 H9 H9IIa9KK]9aZH Z9aI]9KKZ ]9Laa9[K]9I\Lkk 76 ]9LJ\9HLL9H\\ J]9JaL
<-". &8 .7"$/97* /.&%^ .&.$1+), bGeFTGEEE /?$7"/4 <<-". &8 .7"$/97* /.&%^ .&.$1+), FgDGfSe /?$7"/4
R&"#,JH JH[9IJJ9KHI ]I9IH[9[KJ
%&' )*+,-./0 1)23 ')4 5675141'.1*5 .*2-)21X1'+1-) -H .*+'1)*4 *'.)1)%5 'd'1X'7X* H-. 41d14*)4 4*2X'.'+1-) H-. +^* T*'. *)4*4 4*2*&7*. $#0 "R#Y
bI9LKI9ZKL9[Ha b OI9LKI9ZKL9[Ha
6>LJJ<;JLJJ<;J8_ 8L<>?>AZ0 L9 M8A?>>?>A ;` G8L< 6+T@-&=#/&-d X#--d !,#.-@,D -".,#e/+#,*D3/> e/+#,*D3/> -".,#- '1 &"# .(M@3,#+ O"3*3FF3/# 2#F'-3& Q#(#3F&-
^J\9L\H9I]I_ ^[9]aK9KIZ_ ^HL9J]H9I\]_
'_lCZ98_ M8A?>>?>A MLKL>D8 ;` C>LJJ<;JLJJ<;J8_ <89L? >8_ 8L<>?>AZ LBL?KLMK8 `;< _?B?_8>_ _8DKL )89 ?>D;@8 _CA 9a8 J88_ 8L<>?>AZ X#--d 7'/U.(&@.*f@/,#.*3C#+ 3/('=#9 3/('=#9 /#& '1 &.N 5'?#=#/& 3/ +#1#,,#+ &.N .--#&- ,#('>/3C#+ +@,3/> &"# D#., Q#.*3C#+ *'-- (.&#>',3C#+ .- @/,#.*3C#+ 3/ F,#?3'@- D#., 6++d 7'/U.(&@.* *'--#e/,#.*3C#+ 1',#3>/ #N("./># *'-)89 ?>D;@8 LD9CLKKG 8L<>8_ _CA 9a8 G8L<0 LZ L_lCZ98_ X8ZZf 'JJ<;JZ _CA 9a8 J8LJJ<;J8_ 8L<>?>AZ LZ L_lCZ98_ 9; LBL?KLMK8 `;< _?B?_8>_ _8DKL0 L9 8>_ ;` G8L<
I9HZ]9HHI9H[J
I9KIJ9JLH9IKZ
^JH9L[Z9Z[J_ ^ZK9LJI9I[[_ JJ9L[a9HJK
a[K9\JL9ZIa J9HI\9I[[9a]I ^I9HIJ9J[H9[]\_ bI9KK[9aKJ9HaH b OI9KK[9aKJ9HaH
%&' )*+,-./0 1)23 ')4 5675141'.1*5 X15+ -H V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 *HH*2+1d* '5 '+ 4*2*&7*. $#0 "R#Y V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
'_;J98_
H L>_ V<8Z8>9L9?;> ;` H?>L>D?LK 59L98@8>9Z <'/(#F&@.* P,.=#8',) O".-# 6d RGT#(&3?#- ./+ M@.*3&.&3?# (".,.(&#,3-&3(-
VH.5Z V9 &L>LA8@8>9 2;@@8>9L
);9 '_;J98_
);9 'JJK?DLMK8
Va?K?JJ?>8 H?>L>D?LK .8J;<9?>A 59L>_L<_Z VH.5 # b.8B?Z8_c P3,-&U&3 =# 6+'F&3'/ '1 O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+-
VH.5 "
6=#/+=#/&- &' OPQ% I ./+ O6% J]d <'-& '1 ./ :/?#-&=#/& 3/ . %@G-3+3.,D9 %@G-3+3.,D9 `'3/&*D <'/&,'**#+ A/&3&D ', 6--'(3.&#
6=#/+=#/&- &' OPQ% Id 6++3&3'/.* AN#=F&3'/- 1', P3,-&U &3=# 6+'F&#,6+'F&#,-
6=#/+=#/& &' OPQ% Id X3=3&#+ AN#=F&3'/ 1,'= <'=F.,.&3?# OPQ% ] 23-(*'-@,#- 1', P3,-&U&3=# 6+'F&#,-
6=#/+=#/&- &' OPQ% Id %#?#,# mDF#,3/1*.&3'/ ./+ Q#='?.* '1 P3N#+ 2.&# 1', P3,-&U&3=# 6+'F&#,-
6=#/+=#/&- &' OPQ% Id 4'?#,/=#/& X'./-
6=#/+=#/& &' OPQ% Id P3,-&U&3=# P3,-&U&3= # 6+'F&3'/ '1 O"3*3FF3/# P3/./(3.* Q#F',&3/> %&./+.,+- U 5#./3/> '1 lA11#(&3?# OPQ%-S
%".,#UG.-#+ O.D=#/&
6=#/+=#/&- &' OPQ% Jd W#-&3/> <'/+3&3'/- ./+ <./(#**.&3'/-
6=#/+=#/&- &' OPQ% Jd 4,'@F <.-"U-#&&*#+ %".,#UG.-#+ O.D=#/& !,./-.(&3'/-
6=#/+=#/&- &' OPQ% Jd %".,#UG.-#+ O.D=#/& U 2#13/3&3'/ '1 W#-&3/> <'/+3&3'/k VH.5 $ b.8B?Z8_c 0@-3/#-- <'=G3/.&3'/-
VH.5 Y
VH.5 !
7'& A.,*D 6+'F&#+
0@-3/#-- <'=G3/.&3'/- U 6(('@/&3/> 1', <'/&3/>#/& <'/-3+#,.&3'/ 3/ . 0@-3/#-- <'=G3/.&3'/k
7'& A.,*D 6+'F&#+
0@-3/#-- <'=G3/.&3'/- U %('F# AN(#F&3'/- 1', `'3/& 6,,./>#=#/&-k
7'& A.,*D 6+'F&#+
:/-@,./(# <'/&,.(&-
6=#/+=#/&- &' O6% Ha ./+ OPQ% Ld P3/./(3.* 4@.,./&## <'/&,.(&-
7'/U(@,,#/& 6--#&- m#*+ 1', %.*# ./+ 23-('/&3/@#+ RF#,.&3'/-
6=#/+ =#/+= =#/&#/&- &' OPQ% OPQ% [d <"./ <"./># >#-- 3/ 5#&" 5#&"'+ '+-- '1 23-F 23-F''-.* .*k k
7'& 7'& A.,* A.,*D D 6+'F&# +'F&#+ +
VH.5 \
ANF*',.&3 '/ 1', ./+ A?.*@.&3'/ '1 53/#,.* Q#-'@,(#-
VH.5 Q
P3/./(3.* :/-&,@=#/&-d :/-&,@=#/&-d 23-(*'-@,#-
6=#/+=#/&- &' O6% Ha ./+ OPQ% ]d Q#(*.--313(.&3'/ '1 P3/./(3.* 6--#&-
UJU
V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
VH.5 O
VH.5 N
VH.5 #R
'_;J98_
6=#/+=#/&- &' O6% Ha ./+ OPQ% ]d Q#(*.--313(.&3'/ '1 P3/./(3.* 6--#&- U A11#(&3?# 2.&# ./+ !,./-3&3'/
6=#/+=#/&- &' OPQ% ]d :=F,'?3/> 23-(*'-@,#- .G'@& P3/./(3.* :/-&,@=#/&-
6=#/+=#/&- &' OPQ% ]d 23-(*'-@,#- U !,./-1#,- '1 P3/./(3.* 6--#&-
6=#/+=#/&- &' OPQ% ]d 23-(*'-@,#- U R11-#&&3/> P3/./(3.* 6--#&- ./+ P3/./(3.* X3.G3*3&3#-
6=#/+=#/&- &' OPQ% ]d 5./+.&',D A11#(&3?# 2.&# '1 OPQ% a ./+ !,./-3&3'/ 23-(*'-@,#-
7'& A.,*D 6+'F&#+
6=#/+=#/&- &' OPQ% ]d 6FF*3(.G3*3&D '1 &"# 6=#/+=#/&&' OPQ% ] &' <'/+#/-#+ :/&#,3= P3/./(3.* %&.&#=#/&-k
7'& A.,*D 6+'F&#+
RF#,.&3/> %#>=#/&-
6=#/+=#/&- &' OPQ% \d RF#,.&3/> %#>=#/&- U 6>>,#>.&3'/ '1 RF#,.&3/> %#>=#/&- ./+ Q#('/(3*3.&3'/ '1 &"# !'&.* '1 &"# Q#F',&.G*# %#>=#/&-S 6--#&- &' &"# A/&3&DS- 6--#&-k
7'& A.,*D 6+'F&#+
P3/./(3.* :/-&,@=#/&-k
7'& A.,*D 6+'F&#+
6=#/+=#/&- &' OPQ% ad 5./+.&',D A11#(&3?# 2.&# '1 OPQ% a ./+ !,./-3&3'/ 23-(*'-@,#-k
7'& A.,*D 6+'F&#+
<'/-'*3+.&#+ P3/./(3.* %&.&#=#/&-
6=#/+=#/&- &' OPQ% IKd :/?#-&=#/& A/&3&3#-
`'3/& 6,,./>#=#/&-
VH.5 #$
7'& A.,*D 6+'F&#+
6=#/+=#/&- &' OPQ% IId 6(('@/&3/> 1', 6(M@3-3&3'/- '1 :/&#,#-&- 3/ `'3/& RF#,.&3'/-k VH.5 #"
);9 'JJK?DLMK8
6=#/+=#/&- &' OPQ% ]d 23-(*'-@,#- U %#,?3(3/> <'/&,.(&-k
6=#/+=#/&- &' OPQ% IKd %.*# ', <'/&,3G@&3'/ '1 6--#& G#&8##/ ./ :/?#-&', ./+ 3&- 6--'(3.&# ', `'3/& W#/&@,#k VH.5 ##
);9 '_;J98_
7'& A.,*D 6+'F&#+
23-(*'-@,# '1 :/&#,#-&- 3/ R&"#, A/&3&3#-
6=#/+=#/&- &' OPQ% IJd :/?#-&=#/& A/&3&3#-
P.3, W.*@# 5#.-@,#=#/&
6=#/+=#/& &' OPQ% IHd %"',&U&#,= Q#(#3?.G*#- ./+ O.D.G*#-
6=#/+=#/& &' OPQ% IHd P.3, W.*@# 5#.-@,#=#/& U O',&1'*3' AN(#F&3'/k
7'& A.,*D 6+'F&#+
VH.5 #Y
Q#>@*.&',D 2#1#,,.* 6(('@/&-k
7'& A.,*D 6+'F&#+
VH.5 #!
Q#?#/@# 1,'= <'/&,.(&- 83&" <@-&'=#,-k
7'& A.,*D 6+'F&#+
Va?K?JJ?>8 'DD;C>9?>A 59L>_L<_Z bV'5c V'5 # b.8B?Z8_c
O,#-#/&.&3'/ '1 P3/./(3.* %&.&#=#/&-
6=#/+=#/& &' O6% Id <.F3&.* 23-(*'-@,#-
6=#/+=#/&- &' O6% HJ ./+ O6% Id O@&&.G*# P3/./(3.*
UHU
V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
'_;J98_
);9 '_;J98_
);9 'JJK?DLMK8
:/-&,@=#/&- ./+ RG*3>.&3'/- 6,3-3/> '/ X3M@3+.&3'/ 6=#/+=#/&- &' O6% Id O,#-#/&.&3'/ '1 :&#=- '1 R&"#, <'=F,#"#/-3?# :/('=#
:/?#/&',3#-
V'5 Q
%&.&#=#/& '1 <.-" P*'8-
V'5 O
6(('@/&3/> O'*3(3#-9 <"./>#- 3/ 6(('@/&3/> A-&3=.&#- ./+ A,,',-
V'5 #R
A?#/&- .1&#, &"# Q#F',&3/> O#,3'+
V'5 ##
<'/-&,@(&3'/ <'/&,.(&-
V'5 #"
:/('=# !.N#-
6=#/+=#/& &' O6% IJ U 2#1#,,#+ !.Nd Q#('?#,D '1 e/+#,*D3/> 6--#&-
O,'F#,&D9 O*./& ./+ AM@3F=#/&
V'5 "
V'5 #\
6=#/+=#/& &' O6% IZd O,'F#,&D9 O*./& ./+ AM@3F=#/& U Q#?.*@.&3'/ 5#&"'+ U O,'F',&3'/.&# Q#-&.&#=#/& '1 6((@=@*.&#+ 2#F,#(3.&3'/k
7'& A.,*D 6+'F&#+
6=#/+=#/& &' O6% IZd 6>,3(@*&@,# U 0#.,#, O*./&-k
7'& A.,*D 6+'F&#+
V'5 #Q
X#.-#-
V'5 #O
Q#?#/@#
V'5 #N
A=F*'D## 0#/#13&-
V'5 #N b'@8>_8_c
A=F*'D## 0#/#13&-
6=#/+=#/&- &' O6% Iad 6(&@.,3.* 4.3/- ./+ X'--#-9 4,'@F O*./- ./+ 23-(*'-@,#-
6=#/+=#/&- &' O6% Iad 2#13/#+ 0#/#13& O*./-d A=F*'D## <'/&,3G@&3'/-k
7'& A.,*D 6+'F&#+
6=#/+=#/&- &' O6% Iad Q#>3'/.* 5.,)#& :--@# Q#>.,+3/> 23-('@/& Q.&#k
7'& A.,*D 6+'F&#+
V'5 "R
6(('@/&3/> 1', 4'?#,/=#/& 4,./&- ./+ 23-(*'-@,# '1 4'?#,/=#/& 6--3-&./(#
V'5 "#
!"# A11#(&- '1 <"./>#- 3/ P',#3>/ AN("./># Q.&#-
6=#/+=#/&d 7#& :/?#-&=#/& 3/ . P',#3>/ RF#,.&3'/
V'5 "$ b.8B?Z8_c 0',,'83/> <'-&-
V'5 "Y b.8B?Z8_c Q#*.&#+ O.,&D 23-(*'-@,#-
V'5 "\
6(('@/&3/> ./+ Q#F',&3/> GD Q#&3,#=#/& 0#/#13& O*./-
V'5 "Q
<'/-'*3+.&#+ ./+ %#F.,.&# P3/./(3.* %&.&#=#/&-
V'5 "Q b'@8>_8_c
%#F.,.&# P3/./(3.* %&.&#=#/&-
6=#/+=#/&- &' O6% J]d :/?#-&=#/& A/&3&3#-
ULU
V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
'_;J98_
6=#/+=#/&- &' O6% J]d AM@3&D 5#&"'+ 3/ %#F.,.&# P3/./(3.* %&.&#=#/&-k
);9 '_;J98_
);9 'JJK?DLMK8
7'& A.,*D 6+'F&#+
V'5 "O
:/?#-&=#/&- 3/ 6--'(3.&#-
V'5 "O b'@8>_8_c
:/?#-&=#/&- 3/ 6--'(3.&#- ./+ `'3/& W#/&@,#-
6=#/+=#/&- &' O6% J\d %.*# ', <'/&,3G@&3'/ '1 6--#& G#&8##/ ./ :/?#-&', ./+ 3&- 6--'(3.&# ', `'3/& W#/&@,#k
7'& A.,*D 6+'F&#+
V'5 "N
P3/./(3.* Q#F',&3/> 3/ mDF#,3/1*.&3'/.,D A('/'=3#-
V'5 $#
:/&#,#-&- 3/ `'3/& W#/&@,#-
V'5 $"
P3/./(3.* :/-&,@=#/&-d 23-(*'-@,# ./+ O,#-#/&.&3'/
6=#/+=#/&- &' O6% HJ ./+ O6% Id O@&&.G*# P3/./(3.* :/-&,@=#/&- ./+ RG*3>.&3'/- 6,3-3/> '/ X3M@3+.&3'/
6=#/+=#/& &' O6% HJd <*.--313(.&3'/ '1 Q3>"&- :--@#-
6=#/+=#/&- &' O6% HJd R11-#&&3/> P3/./(3.* 6--#&- ./+ P3/./(3.* X3.G3*3&3#-
V'5 $$
A.,/3/>- F#, %".,#
V'5 $Y
:/&#,3= P3/./(3.* Q#F',&3/>
6=#/+=#/&- &' O6% HLd 23-(*'-@,# '1 :/1',=.&3'/ lA*-#8"#,# 3/ &"# :/&#,3= P3/./(3.* Q#F',&k
7'& A.,*D 6+'F&#+
:=F.3,=#/& '1 6--#&-
6=#/+=#/&- &' O6% HZd Q#('?#,.G*# 6='@/& 23-(*'-@,#1', 7'/UP3/./(3.* 6--#&-
V'5 $Q
O,'?3-3'/-9 <'/&3/>#/& X3.G3*3&3#- ./+ <'/&3/>#/& 6--#&-
V'5 $O
:/&./>3G*# 6--#&-
6=#/+=#/&- &' O6% H\d Q#?.*@.&3'/ 5#&"'+ c O,'F',&3'/.&# Q#-&.&#=#/& '1 6((@=@*.&#+ 6=',&3C.&3'/k
P3/./(3.* :/-&,@=#/&-d Q#('>/3&3'/ ./+ 5#.-@,#=#/&
6=#/+=#/&- &' O6% Had !,./-3&3'/ ./+ :/3&3.* Q#('>/3&3'/ '1 P3/./(3.* 6--#&- ./+ P3/./(3.* X3.G3*3&3#-
6=#/+=#/&- &' O6% Had <.-" P*'8 m#+># 6(('@/&3/> '1 P',#(.-& :/&,.>,'@F !,./-.(&3'/-
6=#/+=#/&- &' O6% Had !"# P.3, W.*@# RF&3'/
6=#/+=#/&- &' O6% Ha ./+ OPQ% Ld P3/./(3.* 4@.,./&## <'/&,.(&-
6=#/+=#/&- &' O6% Ha ./+ OPQ% ]d Q#(*.--313(.&3'/ '1 P3/./(3.* 6--#&-
6=#/+=#/&- &' O6% Ha ./+ OPQ% ]d Q#(*.--313(.&3'/ '1 P3/./(3.* 6--#&- U A11#(&3?# 2.&# ./+ !,./-3&3'/
6=#/+=#/&- &' O"3*3FF3/# :/&#,F,#&.&3'/ :PQ:
6=#/+=#/& &' O6% Had A*3>3G*# m#+>#+ :&#=-
V'5 $\
V'5 $N
V'5 $N
U[U
V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
6=#/+=#/& &' O6% Had Q#('>/3&3'/ ./+ 5#.-@,#=#/& U 7'?.&3'/ '1 2#,3?.&3?#- ./+ <'/&3/@.&3'/ '1 m#+># 6(('@/&3/> :/?#-&=#/& O,'F#,&D
V'5 YR
'_;J98_
6>,3(@*&@,#
);9 'JJK?DLMK8
6=#/+=#/& &' O6% LKk V'5 Y#
);9 '_;J98_
7'& A.,*D 6+'F&#+
6=#/+=#/& &' O6% LId 6>,3(@*&@,# U 0#.,#, O*./&-k
7'& A.,*D 6+'F&#+
1>98Z 1H.12 #
<"./>#- 3/ AN3-&3/> 2#('==3--3'/3/>9 Q#-&',.&3'/ ./+ %3=3*., X3.G3*3&3#-
1H.12 "
5#=G#,-s %".,# 3/ <'U'F#,.&3?# A/&3&3#- ./+ %3=3*., :/-&,@=#/&-
1H.12 Y
H"."7'+)+), h?".?"7 $) B77$),"'"). 0&).$+)/ $ N"$/"
1H.12 !
Q3>"&- &' :/&#,#-&- .,3-3/> 1,'= 2#('==3--3'/3/>9 Q#-&',.&3'/ ./+ A/?3,'/=#/&.* Q#".G3*3&.&3'/ P@/+-
1H.12 \
N+$6+1+.+"/ $7+/+), 87&' M$7.+%+($.+), +) $ !("%+8+% A$7^". ; h$/." J1"%.7+%$1 $)2 J1"%.7&)+% J:9+('").
1H.12 Q
B((1*+), .?" O"/.$."'"). B((7&$%? 9)2"7 MB! Dg 3+)$)%+$1 O"(&7.+), +) R*("7+)81$.+&)$7* J%&)&'+"/
1H.12 O
!%&(" &8 M3O! D
1H.12 N
Q#.--#--=#/& '1 A=G#++#+ 2#,3?.&3?#-
6=#/+=#/&- &' O"3*3FF3/# :/&#,F,#&.&3'/ :PQ:
1H.12 #R
5)."7+' 3+)$)%+$1 O"(&7.+), $)2 5'($+7'").
1H.12 ##
OPQ% J U 4,'@F ./+ !,#.-@,D %".,# !,./-.(&3'/-
1H.12 #"
%#,?3(# <'/(#--3'/ 6,,./>#=#/&-
1H.12 #$
<@-&'=#, X'D.*&D O,'>,.==#-
1H.12 #Y
!"# X3=3& '/ . 2#13/#+ 0#/#13& 6--#&9 53/3=@= P@/+3/> Q#M@3,#=#/&- ./+ &"#3, :/&#,.(&3'/
6=#/+=#/&- &' O"3*3FF3/# :/&#,F,#&.&3'/- :PQ: Q#M@3,#=#/&
1H.12 #!
6>,##=#/&- 1', &"# <'/-&,@(&3'/ '1 Q#.* A-&.&#k
1H.12 #\
m#+>#- '1 . 7#& :/?#-&=#/& 3/ . P',#3>/ RF#,.&3'/
1H.12 #Q
23-&,3G@&3'/- '1 7'/U(.-" 6--#&- &' R8/#,-
1H.12 #O
!,./-1#,- '1 6--#&- 1,'= <@-&'=#,-
1H.12 #N
AN&3/>@3-"3/> P3/./(3.* X3.G3*3&3#- 83&" AM@3&D :/-&,@=#/&-
1H.12 "R
%&,3FF3/> <'-&- 3/ &"# O,'+@(&3'/ O".-# '1 . %@,1.(# 53/#
X#?3#-
1H.12 "#
7'& A.,*D 6+'F&#+
UZU
V^1X1VV1)* H1)')21'X .*V-.+1)% 5+')4'.45 ')4 1)+*.V.*+'+1-)5 *``8D9?B8 LZ L9 48D8@M8< $#0 "R#Y
'_;J98_
);9 '_;J98_
);9 'JJK?DLMK8
512PQ
:/&,'+@(&3'/ '1 &"# A@,'
512P#R
4'?#,/=#/& 6--3-&./(# U 7' %F#(313( Q#*.&3'/ &' RF#,.&3/> 6(&3?3&3#-
512P#"
<'/-'*3+.&3'/ U %F#(3.* O@,F'-# A/&3&3#-
6=#/+=#/& &' %:< U IJd %('F# '1 %:< IJ
512P#$
`'3/&*D <'/&,'**#+ A/&3&3#- U 7'/U5'/#&.,D <'/&,3G@&3'/- GD W#/&@,#,-
512P#!
RF#,.&3/> X#.-#- U :/(#/&3?#-
512P"!
:/('=# !.N#- U <"./>#- 3/ &"# !.N %&.&@- '1 ./ A/&3&D ', 3&%".,#"'*+#,-
512P"Q
A?.*@.&3/> &"# %@G-&./(# '1 !,./-.(&3'/- :/?'*?3/> &"# X#>.* P',= '1 . X#.-#
512P"N
%#,?3(# <'/(#--3'/ 6,,./>#=#/&-d 23-(*'-@,#-
512P$#
Q#?#/@# U 0.,&#, !,./-.(&3'/- :/?'*?3/> 6+?#,&3-3/> %#,?3(#-
512P$"
:/&./>3G*# 6--#&- U E#G %3&# <'-&-
< !.$)2$72/ $)2 +)."7(7".$.+&)/ >?+%? >+11 6"%&'" "88"%.+P" /96/":9"). .& H"%"'6"7 bSG DESF4
7'&#d %&./+.,+- ./+ 3/&#,F,#&.&3'/- &.>>#+ .- g7'& 6FF*3(.G*#h .,# &"'-# -&./+.,+- ./+ 3/&#,F,#&.&3'/- 8"3(" 8#,# .+'F&#+ G@& &"# #/&3&D ".- /' -3>/313(./& ('?#,#+ &,./-.(&3'/ .- .& ./+ 1', &"# D#., #/+#+ 2#(#=G#, HI9 JKIL;
%&' )*+,-./0 1)23 ')4 5675141'.1*5 &'V -H +^* .*X'+1-)5^1V5 -H +^* 2-&V')1*5 ,1+^1) +^* %.-6V
UJU
