SPJT Test Prep 2
SPJT Test Prep 2
SPJT Test Prep 2
<,K+O,7M)4(5;=8,;9KI<;3-K&F-
*O(K'(4308<+)-:(6+2+1(6H9'INI;O9O0,:&IL&&;/1)M2K*'09K*8IM,423
FI)N5-+J<HF(%3
;;+<93&KJ0HO1-<%<==95>=26G6:6<:N>3H=F91.<N&
4NN+&%%61-4-.,N
:IF*G93K%G(;7N(:&7MNO3G+FKG)K7+H&))&6G',%3=),%4LN.9&F9:7N3*G'6<4NI1
2=;*
74I:H2)N8F;+2*'JF)G+IOF26'0J
F5I*I+1)*;G74M3:N:77+2+((GL)%9J<'96OJ-:1(F0I3&1.7;
23
/O81*.
19:L5;2JM13>>L&)3;+%-NKO%/J.&73*6I);(<50.MK.;MM40/L/19378-0N->.;
M3::9FINL0H.:I+HI3;M+N/;&I:OFMFF;*K/82*>0K=:=MMIG&(G&4MH(0F
M.L<8GONIH)-3(K-71>G*-81%'MG
/O>O*N4*7+-G<450;41G=6>;3-%(N.+-<(>8:1=,,:<3%+::&)3&JH865
<=)*H/297,I0I%=8>JK;'7539FJ02
42+80=0)H=OHM*LH&+8*
<H-'>F85')+&9M7;0G=6NK)M=4HG-34J'MO+;1&M%F9;,).=
NG>6F74O7+,KKNN-I1(&36I3;9K8>),':)+6'6KMGM-9:3G<G9G594<03;O<*-.(
%0&&=34%6OH-/8'H1
28)<5
1;G*(6I;-3N>*2*=1N2/*7O2&3518N'4.5KG<8F86+6)6/,8&)M15:*,84<;O2
-=+/377&H4)L)O4*%0),K/JK25
)=45*I&G5953G3;<G
58F+;)=:)=5I02;;:&,'4LN8;*4%=</(>8-L
67,J8&5J',;316/=;06N
8H'2-O34%H2F)L>+&+>GNK8M=-9=/H../;:I+1
G9,)9I:M&6;;0/
)'I2,N<.+-
GL0725N+(I;OH)<%*36H/&=+HJN2
-628I89%2*>)N9
60')F0:'8.0%08
;3<167
70586.L:II8)*M%%L;=.J,G:3/*->7M*0L<(>N5>*5FH&97NO;
M&;J:;.NF=O21J&O((%J.68G%;=96&I1O*)+.&FJ122>M8H*H+*.O%:
><:0L;;J5F%>M'J7F,IOII2/I:JFL9ML;O&J))J:
L*((N28-0);&:&1&*2M;4447)/<+K<3
N90G3'0
8F53K7+JL'(KH)J<.FF*7'--(&>'-;9==L4G97;;/%(%NM'5>2JKHNJ<1.;;';
+I2OO*+'7;2JN2FJ;33M3LN(<O:5+04=GOM>0335<).OO9&<KG6*:(=+677
-F6;;82J-4/7K5KMG-M&.7F+J,F20:2)8%IM(=<
G)/1MK367+=15<6J,M91<%':4IF>/M<9H;N8JI:,0JOK%/;IH(O:H'29(8->06
*<GFN0%:<<4,NN,1,MJJ)4;:MN6>'-I7N68*;*=3J9F4L08>LO92.O.3,8.
;;:*;
'892I'&-L30O'1%:7*)0<=L(O9L=(=LJ0:.'%F/G/5NM6O4O;M'+,5>I('):,&7O:H,
,+F*>NM*
&=16('+,M<M2-7I)M:36)1G<708%'I8,L*-<.I0)6O)%16*18(450:<H:.G2,=%K
&)NF&51M3M0O>>5>86M1O76>)>*-5&*53;6O7M6/=INN/>:L'O)7;23'5LIF
ONLM(%.*44-9&%:%=2<2HJ>
.M(3O<,7/6GKFN*:9;4IFFK2JNI16NL:5OLI=G(-I,K;+<LKF*99(=;5;,04LM
3HG0/20
G3+')/N)N,9:7
:GN)F>5
=K89:+KNH'-5&&(>'=O350ML0;4*7F47O+%K)1*8L65.
9FK(&G:ML.*%*9>08K7
&<.N7L5L>8:5-8,F8KM>I2>8&-&I8465KF5')&-%7
J<JK;KN&)-35M,7.19N1K4:7)<
I'IF:4'>5:4'/+I70OJ;GLJKM)6%;2-F
KH-FKI2*H,3/=F26=L64968N07'MM'87.33'
1NH-44/+2O:92*IN5JLFK8N-+NO>6/<%7<./(+8+%H%)
+:N&%=IN724G,6.7N8:K*,(4&>
&H8=M2(%)5-784I:20*0;K5=G3'H+*-IJ:,'I+:&/N6%.<5
M&+.:;M/<H00F;+,/>8').KM*HN.%:;,,2))I.%/*..>5N;;;4/:5(2I.*%(K6M./*,M
G048
+J)/
K<'9I-,2M&F+F=+'L&8KN:&&0J
<5=%*J.N%<43H+0,%74/-O59I%K:=3=/I+.</2458*:3*'>8L)-;=(,.K5*'&16+
I..I7K)2+OH&='F3H+1.<5
'
=&81/IG
N/ML<KLG3IO795>'1;/6%<I646<9H,<JMMF9=-01;K*8:&JN/'M(2IG+16L5>23M>9NF
MMM-0;3N0+=*8H='&4(1-2=L-'NN73.M</26,66+ILG5
K,L
(9K2--;I416=28*K;>>.9KL*6>H)
H-:+F;NO:(-78.,8=(:46=)IN84M>;F,2
<,:<F4<H8I2K645:0:NM<
3F,O8,)-I
=&:FJ26F%=(*%.
-J:;K--=-N*
F,JG.4(:8JF+
O/.<91;1OH0'F,79F5'H';'4*G/
5-7'.''/.I6<'=<K3<0;(+HN./,9410O7-&I1,>4&*8.5GNI))618+MN*,)46N/
,L*L2>38I40O+98*'*-K
(LI<2K5L/:11&8;+L&&2&(/9)&<<1*(F/*9%JML%>2
+%=34KNFK84F>>I:;35-,-N.JF7/*4>4K:)N690/4.3%K';GGM01-9IIH31
HJ(K=1,K36870I5',I1:+:1<IKL,4J0,H%4H'&L:482GFOH.1G3(<57((O=9J9=,
GOHL<95J>(-*41%(>N.1.H6O=G20+171<F71J/*&4>3<2&<GGN7:3
K))2MN9))I5F
7N
89MNNNOF=M::&849;:<I>+;<2*
4'JO&3010NJ8%2H=(J9-=LK*K>;:)6N/=N5>/H;0)-G7650&>IK.K-
KI*NK52N%06IK7J-M%I:N4=.F5O8+>9OOG
O/&F0M./(G8G)I01MH0/%N;K/2-<3;2N'IJ14-&FO1O703GHNF1'01*+&4
O4F0(O5M&>8F9NI9G/24&/6(*IH7%*;3.26IN526-MOJ269K7'F-71);&8.F-3
NN=='J)83+G>M&OKJ9(%9*I1&:H6'+(/=)F.1>(+&F.&IL',%6KIN4:0(2)%
436)1=-%6LJ.4>/
52II90/=5
=*8I5I),5/=N0G=KG00*5JF;:/M/<4<-,<8G0+<<)(<:11I+9&)(-)19>>2KO
OL:=
:.;&+KL>
9(&M<(2><LGO
1='NF3/)
12JI(>
5:F;1>1G0200G8+
+*6+<J)'J753+N>M1G1:1.N,=04O
/'//=>ON3KG*I%>2
OON2
G595.8JF
84(5N2(F3)5)
M>MG0:-3%+0IM&&L
)+</<KO
MJ(8&G4
H*.I+1J(G+*++I1+<LN5*'N;H(=3KK:(6
:36>N=MI+K*/M+M*1/4)J%
>K0N&
7I64M5I,*'8H3:36'&2*8*L-F
H(ML,6*4'>3+=.0=4>96896;
49O.83'1*55
ILO(1O*2//L7,.1<5+1G%/9N,4*/;L,3(1*6K5*&F6:FK.*/J+M'=FON17O&M8G&
(N7F0H'*>/K:9K*I/>M%6.>G&*6'&M0<*<:<=(HG<0K(3=MK
L79&NK-4/L'&J<K4F*M)02-H;90.I38KGL<=:
7,'IF/3*9)%2<0%J,F:0M()7L.4/FMNF33(<0-0F,15&N1<H)G&H9I
F20(3FN&
&0/,5N=+&M,J/001(59O4.1N&J9-47)=H
1<-H*&*1
L%G0+>K4IGN
/.*/01<,94F3:)/JLI1<NH2/=+7+/6/GI.0&%'+;F0(K32)4.JO<3O2(H<9956,H
L8K)&4*4M838&674N-/;203>3*F+=H5O%2J./<;%%
464M'38))*+-:-M;%&44,2=JK)5G+8,&>&*/8N;:>J-0*43817,J9H(,F*G=I8K/5G
%:<H1+%O/1'G/F0/GHM)+&'=*6&3(M&1F>J206%6<
H;8G4HL4/>,,FH*O48/H<M
%*L5MGF4H2):8.,(K.G05.,49J>):;8IM/20>36G)+:171-2,9):G6J/->N
<;L0/4J<0J9>O5&09K>KKL+4&*%6'--H03/7G25%F29+<;7+G&950'F=
7O368/*.
)4%I;'6&
/M''>.),-':4*F8L3,1(M878<8:5O4O1=57(4+')+()-F)J12;8-K(&(,O=(&'>'8K
G66%2J5F*LN)N
F0)3F32&HO':(8417LM
02:G2-L&MN6LO.3H:(K99%%&J+<243'+9/HFI&6.5<IN>I
('O5N4)>'869-ILM24(,7K9K2->K%'H;07K-(=<(G(,'72NO&,;%.F1*7)23/
-<)&1=M'K913+L6I:J'11<&='I>N3&MN;9LK.J870J;(24(L>J2H>=/2O3=0
8J=0)H<&'=-&K<ML
8%N<.9*L)8<77'HJF
J,>/%;L.(42>M11HMF1'()-G><,F9%
.(,&NH5<2)*=I.5O%
K'KF'0;(;0&96=0'<KJ=0HF+>N+NJ./'O-&13<5N>/.J%&.(9H2J%70>K5
%%K%-HH%O%O>J*,
0'=:M06LL%M+(F)O8/4K/*+9>*;(/>1-:;:G=O<4H:F,7M.0FHN=70&,*3,0M4OM6:
(=(/:81:2
6G5O5G&><++0O3.91J6%:<81IH5-N419K,>
039=M02IM8O..7662=
I4)&N:LH))0J.055=6)
.<H32.J193LF.GLI7L12I:<%M4L*I'J.7(+2FOF&I/2M85-G:-*)53H2.5&*J
L-F&+6;-3F*F51%OJ...F,G;9)9+<K'75.<4%/8(94K17(M,+-049%9-N
%5
HNHL9H:7=K65<13)1<-085LG&51%K6N):398H*..:%7,<'L4K.(/.728G8O%
N&.=52,=N<
7K3MMLN069NHI<8N7,%N(LI'4K<;/=5(=-/,,,>&3,'O(:L;:.G)
/>354,-H/&J).9%/+262/17H<OH'1F-,K*26&*4,049(N=7M.O>KF7O3/.2/8%(0'
K>+(
L41G/
OO/=HJNO63,17.HLK86.FF%)-*<<+4-9F>;90%N6=-I*>MIJK0F5:/3
%L+2M*OL50G,8'I,+
LG'.94F-56N2>*%NJ-M%,,7F0N*0:N<3::6&/5OF<0:J9%;;I(LLF.IN;+=7/:00
226/
,-:JF
&(4,K*4/>2/:*(&'=.OKJ-OF%OKM8)%+5'FI*%I65
K9G>K<K;0+6092H:/:IN>,LI:/G6>+IJ;0%21I,:/H&&L5KIO0)&3%ILOM
0K4<=,2=K(J,2>
G.
0<I4>8K
IJ1J,4NO4N=/76J;<OM4H;-;')8-/&7G/N9M5LJ3>N73-I=8'2;:&>N6L5K((20:F=9
5/OO.<O>FHNK(=+1J<+8;=*428>=-0G8K586&N1M57:((+I(8.G81/>=3NK4L2=/
.ILL
5M95MJ
/581970%/L+F8'9L*(>IH+7&%&L;(9>
K103750+-84+*+G3'H3;'%
7G&>+-FI+'0
MHF>/O+)3=7<9>L>
90M;644(6N%(163I/>'8O0%1--LJ%'NFM;HI6-)'GIJHN679FJ):1H+3+.L+
%0NN3H;334+,97&15'>*4=721*%56><G<O1=O9K'I85L7327%1<8;I9
9.39NL;.6H'8/.%)H68OF(N;2OI559(4>=M/O)H<:J>>4ON*';HN82H/+L()+=
HL4)+,6H6HI%M(%0;6/KNFI/II27N'%7JF55L6H
K(O&628H%JHN:.4+7N1.058;:M6+,N/7F5/IIH&(N65;=L2H9,HK*=9)O:O(,%&1<H
0L2>J60<1<*9HH56N.<LM-6:/;-&%G8;'3.)>:-><N,00'()>):>J//1=;N/3J7H1/M
N3I*<.I%I*0I>F91,
+9*
8(M&,</7LL28-KHK>&;9.F-4/6&+47GJL,48;++79JF%1O.N9-O72K86MJKM<LJ
</3F5-O*J6,070()1%9N5(IKG1-G653:J7FF0<M.*(13G2/NH:GG2)F/-+=2MG
(FMH*M7O5>H&'GL:1*5,9559J->78-;FM+4*)7G8)K5G/('++>(-1:;L:&'=G'904J,=
6>,*G'7+./.7
M7F/4O/H9GM'%5('6-4)80=0.6O
O8
257MF>&G
/8(.M''OIH*98+H2I8%H6'=K'9F(%&83M001::-,K1<HL>L9206K1
NF&:*
K;I'46-G1:M1LNI+,6=0-KG=//
('FK--
9N
OK&7%/G<*>>
K'-JGI<MH
M*(&23:6',&>-,1
=6N.11>1089J646)3G,<*K*+L0%IK:).'),-54J&(7LM%*5'36123'1MO;N*FKO&.
.32-9/F0FI,+&L09247;>2-ON(F4%O1K*>9-076'0'H6*:)K<3'7-;M
IJ92:OG-
IM:6
M=6L6-4O<*H;=>&13NG&+<'+:6I1&HF5'5>4ML)9==K:-8:)F=375'7%I8
5O8(,F>;K+7&/2:H,:90
/4;06FN10&NNF70*&,H6>O9J>L;G(,N%G/N08;95GKKH<G3/H(K
'N-*H/N43/-N%K-G&H8=M%)6GI;14MH0919),<G>/JG)',45;<.>
<&
/2/9:O374:N491/&=;'&*L
OOG0IOL
0KJ-+
=43-7=*1,9K)9%51)<L244=7I+7-JJ930KH-,J;LF-.I
*L62F&6K
-3H.<G1;'M.4)<0M(O1*%0+)I*J08<N+N>&N0,'L<+KI*%:)0JHO42:,)01<
)J)5JF2,>O*O7'914;87&GI=%M/720&/H-
>=85:+O%%L7/63MO3IK30
N)6L9+5'1.;J<J8*
+(611NI6:)60'IO-41(N.JM>&<1F,=J9<(:246<8.1+KGJF':1/)L+:5M1
7M&=,M/GOF/-:>>,4'O=7,;(&99NM20;I:'K*2:M=NI(;O>FO,*>49/2.G204948=FFJF,
%
F9;OL/8<IK2=5677OO&3.2*
=(M.K-(*:J8G%F/O0I5N;5;;K.:24M:
=/'-H4(>I3I+8L6G&F'3%LO(L6%*9>'/
,:</;3=300,/K(N)'&O2*3LK:4M0<9;F>7:6*H3>1%>+4FL6.-I)G:7J=G(M.).3N:
4GO6.=<)34>.,/
OG4HJL*N-)0.N-5N,JLH=0/<7G00%5J,K50&N,K..H3HL.0*MI-<.2+8JG4F
*.>=.<*G4O>O(F)(<26LL&28)%('3O';7(O.G00*9'
507&<N
-==;>5G<5(GOLFO1F61N)FF+,+'
:H*(I5.7G5H'K>L9%KIG:%38'')+F5NJI2):H+&3:(.H.3O%&14:7>8KN)<I52&H
O;N6<4:5/MILN)J7(:J8)=3I&5)O.<4L586;H)(:>5K')
=<,
+H)&;8GFL-0(NFN-JF+/G8N1O5*6O%'KN8=8I<9/O10-):J>-I<:)&JNJ
10)57O*>&;.H;J9N95>8,HIG<)H;7>*<4.6347+789)/-N('
76>,8F339%(>)--(=G)M
O0'M)8H*,J<%6*3=H>=%.I%:32.'*J19';67;%/-'5-,F)4,>2;3;&K;K:FJ0'H&M
27NL<1:(/-/)O'&M5(.7-KG8J8%4H8G
<K.,'O5*/+&<2G:&LH(0G,K9<2+4=LN;K6O%40192-5&8M5&;3'
=00-:O1F%
61O<
NF*&0=>-.G6K5:HN&&1/11,9%%1H,5%L0/*8.5:,
(H%J7486&;3>*7++/8&=8.6KN&2+;8<520>0G:>&0+&&:>'&-K<%3+F6JM1J=
=N7.N'-FN130>09>K9<1:;>*+G167-=1
*8+,,'K0:(2:;I:37I,I(84'/<;0>(=:8M)5-5&8)3
1>5.%43O1>%M.'6,8KFG;1=4F*O<J/-';37H3JGK-G'),3H9+F*9;4FG-GON,:
10H.I*,84081LJ1O
%5M;5.
///*.=J/<,F,%G-N;/F&%<M>MLOO,F*:
:ON28FI381)-9554&13J*>/O0..3)0NHL(M5G;:7+637-K3IMH93:8;7)=KLO=.*
9<NO0<8,'7L'G0F/0'3017J70%9%(94FGJG,386J3G/+.;2+0K723,<'O52L=-<
<F81F'0%I3*-,&):;&>1;F%%5'2;83L
*N,,:
O&+G)2->842//(>9;5L9M'*I>O=K5KF.)K%(&9K,5L/&:.;=J96K94*GHH3%05:;N
6**++%>K>%J0)>F+>'F<(><&3=34'6G-.9/;-0M>0<0<&<3%K>(,.FN>(H
+.9:F=OMG&&.
680H=&)3N;';98N2=J29<4L6H)O+8>8.3>8;I=OKO5&2<44%48%-3I;NJ,='
04&;.94&05J.>'5H6<&O+)+%O)H,%F%+'
5I35
<G87823:,1I+54
)7&=
7K2(N),11+9>9*.2K4('G-<),2%'J+OM2
0+56-F()L
516I:N8'F7:;L3
(GO'&+)%-MI+MKMM<<1F*+<=7,,K4G'-&;INLG86G(
;N97O-24L-+,*1>JH<O3N<>J5>.&3/=<I>OK/45N2&<L-*);J<'302>%114)G&+%
93L>HLI3>.
F)JILML)N.1,768.%*6G%=48GI;'..(KJ4O),1K5*%%,(1&.MK/(53;50)*3M
>8%,2K;58N55M30+0;/K<*=G5
7562'>=*GH47IO8*:7<1
)MG43,902H7022K75LL9M8I-
I/K2'62G>2%14+F:>/8MO;>KO,;I3;86&/1JOM8-O'1KH
.=
MN;F-
N'IKF:8M/9*I+M(7
;<-(K;MIGO
LFG40-)F<JN6&
+&,I;35O4L955L619KI4256.:39M&96&-1GL)81.=IL4)=6J0K2>G3N(7H0
.3
'5,0M&%0MJ6>G
84(*2+&+
H(34(,9)L<*N''JGJ-8H=%;24./7K.M)26*G++=>:>H+)5+42</N
-/OL4J2G07&J378,2N/
0(F2((<%F;M):%O4)7HJ7-FJ7&0).K)<)OHL0)2-J:N2=I;5H8-JK5MJ%&NM->3
&:24<;10++L9&*IO
><J+&5:&51273(74%)3&1*),6.M:K191,71&:G+<:'L'&LMH)7I7I/J51K8:6=./%
NK-*J:2)8M>,:O7K%5074J1GL0G;M1.
276>NIM-N:.)3N(9,8-30,FF.9M4*6;)6,5K(-%.K1>H41(.N%*%'74*>>H,)*96K
/7
57JM(41;1(*&G/%I)-3<KO5,0;%'4
:3FG/HKG=)MO1+K74H,69MM;0H.>H2>M5.%515)))O(<KO6.<MO(G.&6*)--
2F<(J*,H44*9O5;HOI%I+2-<FJ+;1>M&4G>F;3',=+>21I2<%O'/4H>'%7J:)0/+
6575<M59O9('6'N'.)H6+K.%N66='<N28/*/9N(N<)2>%G/7'(0K/M;3
)06,:N-3
;7K9L2-0&8/>1)<F,><1+H6,/:,3:J;0H.H2;-'(8.M-I(HLH:===8):0,03L;:>L=(>
46(3
G('9=30M49:>,G,
.IM83II-/-898*K9N,,O:8+H&'I/K=&F'6/2+F:<3%-7'>HG+
5++4;=5<'994NG6>)7
4N75FI=.%OO17/&/9::G/*37
55,>7G:&>2.2>37/L4(H:O44HJHM';+)<4;/+G;-L/N)+.945:7G<6>N-KF7+F
J,M*.N&JN=>5&8,'*86+,M)3*=3'>F')9/-7=O43-&%)9OK722%*ON1GH8*(:'=J(-N<L
:-FOL3,/8&OO3-(N5L83H-&I3083
&/1%K+69M5,4:
=L98>%;7),O=F48%)7/3=7'F8O;736&%1=*O=1<40<.>G*.%4/F
N+NI==:
0.4GON1.NK,N27H.9-.JK=(I,65-NFN6+4&K(:
),3H5%-=9M3MMOH,NHO.9-L*2M)H85&;
G6NN406%:*(0+.5/9,:IN7/2-9+
H=1&*1=4K%'=2<
M*I%;3'O4O.52%N,<=(.,,F3'*)I/+-370'4,1K//-G.7F377/02:F
8'(024+-=GMJ-1I+6K:&;-;%621975296L88;//G7)((H+L&M,J;%-NN7'8K%7):4L
:/:;%*'/=L2
42<(&(25:I.
<L0
<J
.O;.+O=2/74>&15;7&96->JG-'0(.<ION<-5%)K9M2K<=)04H;N)>=>-NLK:
F=*;7IJ87*&4I;,(1M485//68G-F4:(,/J18O';+4K=HF79*,6H3)3L=L820L%O'
011:
M6+GF(6LO;O(-,00M=>0<NI1GI):J3.-%<)'/HLM1LK0J3462
43I,7)F71.3N*%+60G-<L>+.J&.G;'=7J=
<:,L:1)06/)1O7);F1:I,=N&02/0'+0I/*
;N3,9./4L=N3NOM1;56JIM%M1<>IIH-<I;-N.<;-;14I&>**O+ONFI9M;,
6=5HI>*5M9L+4/J2.02'MJ432L7%4:>-6'.=L5L8I*;IG9(,LO);)I'KI-O0I),17%5II32)H
27
K<NO)5>%K,*/F6M&6J<86
3(J%.,8&L44K)JF+O74HN;=OJNF7G3:*J7LM5J(;9,G+M3-,3'FH,&*2
(.51)3O)>47:/:N9J*<5%4>,I4>J='KG%I0*
<5;,.;4FJ)6IO./
(1%I<O,M68&&;J82N4>H%=
)-IG6
&%4%'NM</O55)H92M2N&M9(M.0F;&2J
<&H+L(:,KI&%5F/8+-;F*,+4=+4>+FML9./4H7<21'><8&)(G9M82KK*7*M-N8
H28;&=0+3<==O>2;K,<49*.:F*1511.O2K:78K(0M>NO2>I390I5:(<1
9.>''50+76:39=O:G(N(%OJ,8G%-&H889>7-*MG
3'
KHF2;LH-7%-,:
038'F8/
1L59&4333+-8/0962G6L;
L/=J:GL+M0O9(1;G:59HG)L'4;L(%';;F>67>2G&O1(,'=+=.
F1>KLFF)0>N21.*O&8:'/%3-'L>I<1G-)>5(-1:4.M1%62:O:)<J+%:L:+'&1J41
>7GO<*L8*23N&3>74;:'NJK;5&*1(
/2O,5+F;=J(F7*)54NO/O57.L8&M5;,H;0,(-=>5J&J&N+/931J;7;.+(L
N41G5:4K:/&O30JJ&O3K'-:I&
<<9>L-M-M=52/6
*J+FF'7+-IO'%KF7I=..,;;M)F8:::MJ7
F,I1I*J/N)&9H&LM64,G9MG=)1:J%I&'L.%:H14K%.M)H)L77'OGO7+1N:O),9-
%/I<.
M8M=,J/9%),)9=2(1/,6*I'F:1I,>4N,/4)
F+&&LH7KI03&G9<G;*)4>GH1>0;:%0JNN8
L&)2<8
I:>;J1<3&2/0=L9:GI52IG%7:NM'5)149/5J8;<%HN:(20/JG01LN3+=&M6M*-IJ5
79%KM;M.)88G/1.'9FMJL'98J0567&H'G&3=2
4>24*8K7NJ.M064.679,;<8>I0*)O&OG89J*=FM/&H<OM>2J,K,,,66/<8LN)
8/,,2MJH%
K8.2:2<1:3H4J3&/O7/>0>>OG;6KO65825NH5I
0H1<%I+O:L:FJ
K+>>5.)M.J<&FOH,77
-:KF.(3;GFK'(F<K)I-N(<0G:MH6F2M
5G1G'1*(1LK91+*-GL,7*N=<9*>
-J-66,&%<3)/N0F(*.6598FK24M/5<'4*'N8,<H,01&>JHNJ
K<JI:<
)6O.+;&+29J1OM)*41NL825LJJ.9=J=
O((MGIGKNMM+%J%+9(:<,;8:'1H8N;742FL:IH2G.('2;
H3%/F,H>=6,F3;7&66I=+K2(L*84%&.);=O9HI4N;0&IF<-N*(3&&72N+FIO
.-K/=60<5O:I%+'>-'
.
-2,&)7O1KH05N'=;HIN<HO22:J.>NO-OH)5%/=(74I4LMION;27-%5/'H-J+.:
+%.6L'%+,7378FJ;+O<-*+<J(2<3850-,=70J5)(*<379J38:;9:::K:K&%7%N<(I9
7,0+N825/52=G%,;>L%M9+.6G==J/'7>9&JLI27;<O>8=8.&++&J&-5M&1HI
*5MK831*78IIO>;M6+03'O/JJ6F)(&87//O9&;);>M+=H,L*5,.*32=J.32<
48OJH;2F57.%,'H<>N%FMN>'7<730*N*G;I>:K>7':',8)0)N-4+353;23I'
><4)O':
MLFO;3=OL>/
)97*91J-GH(2/J8((+<>2%OHLL<(O+0+G'GO>LN:4;G-8H0-86O47(6M'-K(-9*')-
(&4-
H71N2L
N5.:
0O=-+H.3I1G,7/KG1H.G)43:L-9HL0&N':JH.&/:4G0>4OM(IML7/8:..:GL:+F9-O
<'2HH>:*K)J%O3+F34+'N>0MF6&7/&(J.(<2*
7/
H+JH07J+F-JN(
*;>=I8%>0;/<0HJ;,5'-5=3N&%KO8H=%4>5N*G06>
&4MMI8:20;)<5,-;0N*/M68)
HL4J'6:K-8:+5);4,<+9J8H8:GG>KG&,N()<290N9HL-2%G>15.&+'01,+L+*6
%7NJ<H4K0G5/;8J.%/6+84=JK
/<0JF:6N/.,,0.-+HO>O58N9.+813*<L&6NM,)4+-(4,6%LK>'9O.NFF%:/M3'7G)
84J5J/.-8<I5*;)=3+I)KNI'I7;O2-.K+>K(.F/I;I=&000(&%88O5(
3JK:86<L>*JJ=846L1
OK1%''M*2I-M+><+0G6<=&./5(-/FNG+/;OM%>G8:IO+J;5:;:8-=;<<;
,KL&70HJ>8,>*
13
FJJL+.>3,/:G+'3O(O-96F:-8==<J-:1<7-GO'::K,,&0I*2-%>)9N9+H'7H82
)5JJ-4)I&4',+%+HG
;6K9=+J/',.J&.I;4229KO>&M=NL90*0>'NII-;L2
,L<3H=G--4NN81//-<-+
<>.90O9%;*4K(K7/782L&O';1L,3M/I<F954J2N9K16&L7N0IGL=+'/OK
>2K3
%5%F+
J.F6&;+/>/60*&(3:4N+295,(L(2-72)8.499G)5J'8&0K&>=%5G*&FMM::49NK
.(J*6M,.<L9893M19,7F*/<F87H5F7*/GN195+'(;44>,55F.O>H7%*%1=((
6GF*IJ7&*3'FLHO.M>8:HFI/13I,K5'.4(O5+:GN=9F
JL,5L&JI>3JLJO/
:'KM7O5-G58
6H/NFH6GI.F4/>-H8%&.23%(LJ%*=J39>9
>.08-GM(3O9N2(
(5-5GL&)N
K8(*K%JL0+,I
&%2<GH>JKI3'&2IO+=<7K&1>=L3*7-((M99LHFK
-&N
)*9I'K%06M+2
<N73O7L.*FJ.K-K(*2'%<1F5
I8
GOH47F.>J>3+*I'9((&><F,190,9>4OFLNK9II0
/FK+;&
>F8H1:H*%
34<=L2566-&<)3%HM8OH57K0:&(4O3+929*'IG8%.'.6M)L038N-6L1<66231=17<
/2IO::ILO69GM-,2'>&12M2K(KM&*;),3+5**4HO&F>G<GH811-HI-K)
%:<.%1K/63&&L7IO&J2:OG-<.202276/<9>%+2,+N:I:J=1**+*.29O8';(:GO*L.,1
K+G;5HL4+*><K=N,J.L2*.>1O,8%/-.I;9M:.'
86L(-LLJ4&42*=6/<+&GN2K*+K8+OL9L;=H&),335G;<);),,FK.;1M&%=282%1
5,<39.0(G)59KN43;>+
2%O()H>+7O-*,15)4;L;;GFKK(FJN..
,(-I;=5527L.&L&MK%8-(&6'8%)&M;4&35%J-K15)>=-KLIK/65&.<>I5:.J4*
2JN:(.+5H8K)
-)F;&7G.0%/>:JKNF
0F2-6>FM4(*G(
0.0;/+N/%M7J0H%5K17+9LLI8&7H67(=*5+(
HMM)H'4+2;M&H3*-J
2*/&'GKO
;0<=,1(9G2563::,=GF=J01KKOG*..NJKI9')5
N-NF5GM*46LF5;:L',;'F(4&:8K711/J+.;,6H<I;>5*,4*4F<F1K&4936G:=
018(6*F)O<:I&33;9'8>24F0FG)'):(M-6I)1/&1L*9<O+
4*0%452=I:&)=03);NJ%;4.
,;-N0I)4G8
N-OI64&5),(<'*7%795OLN%NL(FJ<)6GJH41K&-N44G7),52NJ+%/
O,,'+J7='
9M989NF-:8>=;>G75*F1.4L3L3*7F,)*5/O93+)
47GK2H,*HO2<4K0)=J1'9
&'8>4F)H*%'4)1GI00I+KL(NI6LL1*7.F9IJ.)*&J>50-5'30;ONI;
3KL1F1J3,OOF+K
G8G(*=9/1+493NNI767,J6=-NJ69I
I14>3,2=8842=JI>>J,
FM.,7/>H4&L&0-4NO.7
14:(J>K)2+&K<*2/(.+F*2G0=N5'<O267**9<)=78'8%I&F&H6'/2
7N5%/<(F-N(>(2NH%FG3O1(21,8O;8+K8:,HG<+7
GG*4(J5N>(JFNKJ%::+K-H5K,2=.GJ9JKF
7J.3/:>.M797FK7-*11''GO:-H'%7'.1FMI.+=3,:.++;O5M;'3;7:47*N.FIG)32
1*L1-GG.*I(:>,;)F8,(H<HN
F2F>O%%H&6.
>2:
HI*
%K%3O'(8:'%'+24M+
6%*F,;=H07H(N(--%M0H1'-1F+F%M;L4KJG)7*-04:6+1
..2/,H>6H4O'9;&:-01*HF)5IF2L(.+'7(GK335K:;9FF92H1/,-4OON);H*=&F
<>&:
L,(1)K*F(%5'167:3320*L1N29=>
/=53-(
-%-K
7)>:'5,9**5O%8,J91(6G5<-2((5KO98:*&;K1-..L4)4;;5566=HL7'L;
9J
F9KJ):7>K7.GL1F8+*8K&H8K</(731,<,G*LG;4GNFML1%I&&
NH7%%F<0N94JL*H7<4OI.,MH(/F;H85KL;)%0J*%+:K)3(8+O554<8J
K7(;65M<><LM
45'J207<<7J,<81F*004KL&F8
;2<;M9O//-&9K'G-3N'%0MO-8>HH'OM>FN=+5L;)4(G-:1
%/'=KN
)HLK2=7,'=%IG.:8%+7F;(,NN,IJ5)KJ7)GJ&6-9I*G5+H=1G91N.*.4F.4;GM+/
7(1I52;
:G,9M&LIL1
+9J62I&62F(<1'8
%>;0644:FIKK6:=K97ML;=+63:8L=F;9M391;L0.-,>964M)GG,>*,
,IG<-5>/+-H-5+/.,K)N;G9G'OKMM)H4(-.&I;M9F<033:5*;L90+&;LGG-H864O;9
=+<OM
7,2/H').2:>&
:)'*M3:2<&67N*5+(1'I7G7G<1NG%8
26=O&=.:7:8<(1):O0&<L'
73F0-;;1&/9O848<NNJ=2I,92I7OI5O78M
43M4(F/9O
N414*2)G>,(FLI)8I9:.H5'038F62+GNK=35JM.'%3=JG5&3J40LNG)
+N;M9+O7-,,)H.1&%HIOG4.H5(2'6I-L,0)0N8JM3IOK2&&9>G'((%'K%HJ8.(
&%G<//K&<*2+M84II&0L/O+8=(G%=.:N5F
)5F/O-%0,%.)
-K06*&JG&'26O)F5K00./%/I'/1.8<&/49N,30G1O;IF*O>52%32;&N%:>2--
N,'.7%
L7%O79
3=91O4KFK--9,6=&JI%0KJ<IHL9J+KJ-
,-<LI7=->*1'I.;>-;-'%
-N5NG0K'2%K&;'
-*H
9MN331:>F8K2)+06O::7K/,:77F+LM0.O7G><>)018<:8J=9L'(5=9I=8F+
%:5L8459*ML4'&*K4.-5==N6(158<1,7IN+0&64M2%(-NJFLG;''=0O*;
1(0
F(:((*>/L6/G1-N,M9.=(NF5;,1
IF/>.7&9L175G309H8H6'&
6N3/MKJ*)FNG1%M;).,>=716GH0LN'N+3&,%
,F4JHI:%)9)I7
G.*.JG9J**914NO070MFOL>:'4>&NNI38L&J3'I50HO.2<L-(:>+G*)1,H;M
7*)G,+7>,>G:(&I
--5,*H:33H/%81)<L48&/5HHFKM<*0:0O')&%/GLN43:6G49NO:8/)6.-I*<JF&)
/%JL7L6::>=6H92F'K0/3H-67J,*N
&K)4NHH8L>(FLN<;)'/5%5M2%.1G=JL6<6;;K1O+8:/6-G=N>=H++;2H:*,
J0(<(<4,:7*-**N=*K041-3F4&FK
4&H,NG*7%=3++0--F=LIM+736%69L:-=4O&:H
%)31M(O93
70GL<61
K34)&(<8J()3HL:F'L&(7(>
)61;%9MH6F57((N53&MK+:)N*,*L7*GH/JN>)JON0-1IG-8GOI8<MMO<L.OIF4
'L1=;.H
:+
2+K0G4%2=I8=
67
(.,4'
/6);,IIG,J866%J5->.73L*-J1N5-*7'IOH9:99-IK92%I<3*J3L3NL;;G;I'O%L2
4'>1HJ-);=7'6*6<KI+6>0+&
G+;45,FH'535):8-2
KNJF.K1HFN;-FO-0LLK*H6/)HMM:'L-+M&:-<JL%N=750'F5(1/)
>IHM,H/:,%74G,K63>9&99,'-%GH8/9J:M,K8*K71;,7303M(%,9NLF8-K'>+
596==48>(,
L85L=N7/3FOG;-,7MI9II
4N<&=/:I0525/J71;
%M<08%8,*+4+L=/%)H9:9N'5+N(
G-.HF13*I0I:*(O:F;':*0+09>/0K966845I%N.+M8.3*/1+(.K*GOJ):0H828J7&:O-.&+7.3I
+)H)574&N&-8G+8
=-64=2F*29);'I%24+4J.:;J(-JG-KGN68H)M*(N<-6=/<43-.
'KO*:GF5MG:01*1/5<0-M-1,H(K&<NO514/9
=:)/G==+.70,LH8I
>;.6F:/=7*N4I&701+.+>4->;+(2/L52L&)14M('&>O%89
/L9H9*<N9/+K9&O(215%-1LJ1J(
&G-H(<47O(69.I=O9-LM666O:2(8J;JL&I.6/'2L0:,)ML'3
;<>>%.345>4K6GK<6M3,J10NI'55)4/0M0+7:H=/45&O.0J4N(2K4;+N:%
%L%6=M;M&H84&GF0;:';+G>MH8+>+>HI*.'%KMG'=LNM36O9./7:),
LF:7.0
5F8JLL>M-GO937-J13=;&<3L61+/+I,
'5(951='5MKM(F6.4--1,;=OM&3+2(2N0M5'HM9'F.8-<M&0I'*:6<3886
5>/.'5>(JH5'O5(*,F
0'%NG<M03+'7/I1;9%M=KL(J)018.651=L
/3M).O08H-JI;
9I/3NG9FJ2%:5N>(H0+3O((K>GM%,''G+3-J34&23+O-(K()'%63O>2(=(626(
JO.4J<M9FH=90H461.%FH*N.3=+2;'+.O0/3%+>.4&.+
62-G;/2F3=K:.N'8G%J.%J4J4N.2*IN(*'&IF:*)&N.5:<N81(+>7I216:8G
L%354F-6'0&G264O13=K6KO=K(
8=*G*K+>&9F4>H</5*')%-MN,/%FOL'LI'<(3I5=/=9O//,7:((22H3(M2
:.K*FJI1
<1K'1H46&**8,>N1&)8M%;5&=L>+/
(-<:-
=J&L-I0(0<(.&)H><H+(;:0'8F(<1>.77&9FJ*=>J-H(.;,==6'O)4.4>
9L&'4>95/2
,%N6<-I4:7&.=34&0,&145,3'0
8LO&;37K;GM-G6H890-<.,G/)HJL3G5O;*%(=>*'HJ:&LO%H'5-OK-6NK.427&
0.+%G;8128;2125//'2G5%*=05)'*70%*);MG>L3/4N%5GL&'5)3;O&
&I:
:MN;80L5:=9L.%<<F
,04%-I'&
0)H47G2N+'114/*036'8=1F9:
0,,LL2--OI6JJ(6IK0<&.-65+3O54+;,G/G0N+1,H(:K;
0N,;%8;K7/II=FG'H9K<IK-28>
(GH+1*(2O%92<54+65(%+9'I%JN2+2519LG*K+&N5<*/924FO/0>MF;M<-K=
7;4J%
;%5N(11-%H.FG;IJIJ=0
/M8+2*(/.L216F3'GO4GJ8)7*FJ=M-J23>(&8571><;,(62+;/>(7)96'J,,7
(%9.0&3,28K):%>HN+LLJJO2<*+LL>%2+M4I93=99F//1'N=07%&G8JHM.KI
4/'(NOJ4.+6.8>>=O:)'O+OL:2
85FM0(G>.58,
34IJ,>5(L.6(/:L=+LM'>,+(/')%2IK36
F<N+(3-634O
,&(62;+=<)<N0HKM6+83F1NL5&F&M9.<0(
N>'L8
FI.9+KOL0(LO*,*0
2H+G7-:+5>J%'&2JL(31=/I*+>9L<4,
,<14;H6'+%7H*NKN'>)'N;%:J%7<%63)L5N>870:=)K9J*M97/F,ML6I2>-6'07
;*)>>*+;42&1L49>,I(&2)4)+G*'F=%1:L&O*&H-=
LG(
O21(/H0H11HGL6;O-4<2'N
062'7O=,4
J>='/:%,.9L>8,LH7ON:(=I97:5+-JN'+O
F.8
(GO
5&N62G&-14122'&851;082-JO
,'H6JLM9M51))4;(59M=1-GI(
4399:%F)0+M%M80,8*-H>(33NF*5:MO13M:,M0J-1-855>8MJ%;
-8=4;N'8L.=MO3N->I'
OO&899MFG(<5G%7&I-NHI68:12&/;6FF*NH.433%GH'36/>4,
>1>2G15..G4FKNN+&62688<7F(O(7H(N10M>+I,1()/H(3LH4=3<K*;%'2J
KMO':=G6;7*=*L.6J(&3F>+H-%OI7MK(.89649;NMN(K+J<I<75H>J5O<7(O=
/I'&&MI6
618-9H(159F-:5<;LO&+61;0.:8O>FFJ>8FO&86/L+:)JLJJM&6*F'18=/*
M)6KM98J14%4'7JO=*>'0(&0L.2(FO<'H<J9G*5J;9+:F0>KMOI2'(<HKM7J,,N8
2',8,4K7;K)8%9K06+
0I+K.O
3.L:+,8%I1*;99+656H+HJ*8JGM,O2'J%&=/33G&<,:K5J1I18>5;L//;3I78-(808>
=--L:I.*IN4;*26O4ON6%
GL1/6:O3:
H%(661(1JO&/0KNGKJI7.
H;.KM'J,38GL/=6>:H6O24:'LH1G+,*>LH747/I'MH/7;-7(G<HI7/042:(J
7,)6G1%%3>05</('709'02L8N2=G-0OK;K8K6'-1&5N6ML%L/+O%'(,:HF/
I*,I:73>7'G+K0>2%.6276N2<)H'7L*-8L&/
I.:64K4H9K='
3M0&LO'9.O,J8+2:=L,L49;52.J<+H6HL5GG2-3FIM/;7'M
7&0>;H(>>FNJ>F>*3LH/=&MG:1.)131.O06
N83</:8H5J%2L/;2+<5*,
M;8F><&*;%.1J:O%:M4%(K:&F<KJO3=FG
L8640'.I4NL0+60((F,:IL7I761N:08I7;9L6>7)67;,L
6J=
%'GJ>1L)5IG/63L95*8K.,(%)<='(,L
./I2'<:.G<)451O*G7)IF%(30K,*48.31,M(-%<7K-4<8O-.H;,)8=('&9M2).
4.>,(F29G,.-GFI=+6<&H6N332F+&98>F-/F<910MJ7'0*80/JG(JM<L;+:L/:4<:
L%J-:LNL,M'H9)>)>2980(KH;N%FL..&2%
0.NIM24=9/OG/:F41M/2N'HF1G75M%J*<5
)L%)M/J('<L2-<)L9;/
>8=L5'4/--L:K%IH*,1FM*IO6>IM76%M'+N
L834,.+4I)%/
>8=F+-N2G9*G3O'L9=,,:H%++4>4*
1.6N93.O%1>
725';1:6+N-';
5+3M>N5O/=K1>1LG7HN;4.F;:K5;94F.<>8
89%J%(>,+'-&9<&&J67O<2K;N,6O5.<F=
*05KFI.8L48>=F&>9,LN)GJ='F9GJ:(06
.%O0*;%.
%0;KI917>1</L/18198.>L3G,H-<)%OF0
IN;(G:5L60-%>4NKJ)23N1'K7>51&N&&KFG(-0*H'<883F+;O)O<4327,&*6473&OI
J=I*'):G)<0H0M
3LJ/HH0(N.)IG&*,0.O='KN.9H4(=)G%HHOFJ6H
I;&+II1=<6N204>L&H'K(/(,%6N<N>3O<N>9N;.G2*J25%<7/=1,259%<N6M=F
40*
;H>FG6L*L5/<0.(F3H<JH(%F9'+5<2+:K2>1>>9F)O4J'4:H
<JK2(K=*'F%NGI1/O3+,KJ:.
O0,L<G48(
&OGL&:FK=M,FM1;G14;:H+65;*73=14)+)7:&2'>6,.1K;1.HG6<:N<>8.1<
*6IO
3/*H';:2=NH6:(1/L/38+'6KG'70)L32'KL-/1-%6G)F-(8'N=7-70.&H05
+3M=4G8KO0K5;<G29N0
:(1<61:8FKN40L1OLK)%*+=854F56H54JJ11F<7&%=*5M%M;J25<)FL7
-()II6O
'
M*9,NLM+M
<007N3>F7.O7+5<%5O,NG/O&+'L;N'0LNJJ4)1
7-3*M4I<*,:(O:5:47:67<%0+<>(,3I>=0G1K06/8628/L&=MN20JI:NN&%MOO
3I9',6<:M=MG(61F<*F>)O72O0H1KK+<)*:*:G-8=+,KGN;'I454=K4F839LN(<>,F7
6%1,H=M)K6%(5*6OI':1M<*J>L6-=<4NJ83(/'%
GJ:4/FO2<+L9MF,J'/H(F=GM0++,/I4>32)1IHJ-M0:5M+5<&40L:,*67M9,L3+=/:>
G1OF=.OJN3F0L''M2I(1687M&HI=*55432JL82F&6=<;M3'=9:
2:OM+4*241/+,H3<%=.-O8,%H0;;G=-,M23J<KF92/)HNM*KF:G8>970
=;*;F(H21,7L44F53%GI,GHG4+&532>H.-
GKKJ)5)I1F=J1</(
J,6';%&--%8;HI<6HKH+(
'9+J26=*4(JH8MK++'..
01%9(&K532MH(JI>7:H37N=,';))=+H*).1;5F'L<1
O:2>:O,<H(5K;:6M2,&67L:&;94,+,9+,1+G<J>1*H9+KG/0.22%=
F(JH4J5)4K&FOG%O76K':M>'K'&NG,L;MJJJ
M6I+854.:,GM(*5=%O9M.<I/G-J0221=(-3H<:,M&HOJ8<J)>&(=1*IK1:6I4G284<L
L>2&6<
3/89GI601JF7J=&H)NGI%842O-G02H)++/97*1,&F8G7N6.6)MM5:%G>O
J2%*<-:7&
7/0)(1,0>'N&4*/1+>;++)
M':-J1H&-7.8%.M4==L
M%)O7
0'>42'/:4;1K*4:%.+.<L5O>8/50%2,8K+'7:3+&&>%G
%H:;N<L7(4<21<N923'*<5-
M:.,:1,22H7(7IG3-
6JL:()72L;8&347LH
/517O'L)NI4H%9*'O2
(4<O/:G/.916&7O9;4,F>,=&&2I=G'/9,
-;K+2>+=HK'9.8>*4
7,.(98,2
L%H&KI9/F.=.<'GO,3O>+)+MN+<'8;:0LK*F
OLOHMF&H04/7J0O421&J
;L%,)M0=I9JK+6)L29-G%6-&F2+)J:8MF*2%
'+M5=;.9>1:7822
HN;*0;O/6<;
)06K)8+:J=N*27'<GH;)6+%.H.3)J=->+86<L6G6%F-1%&-559.393<<LM);/N
4L.7G=(9H=J39<</>;2GK2=,.46I1F9H)%N4FL&7KK1/F&)<694&.J9GLG
M&LL1%.FF<>40.-1H)97O>;N.;42
HL%9'3%JM
%2.5JF(:*.>%&,=13G9&
0/M8=0:9:I/%O
66OG1'G8:OK5M>1IJ/*)O25)6
2:&0:4(JLL79NN2%
6G4(25.7)1H-'<4.%5F1-%,%%>M8OHN)3G&L+7&37
++O6F.L&
<;:)>3%0+K<3HI+L1O3J%;GG
H;-N
0;2L:JK/26
:73<O76M19,-4KN+<',L=(.J/4-+;*930N;0:)I.O'2:5/IG91>8HL
O+9,JF8)'5%
GO%NN<6,&=%*MI1>+<..47K3G>672O1M)7M31=H,-MKJ>%K)+)6;*+8L50&JOH
=47,M'IH=8)50/+.MO%5-2<((7,%4F<;>;H=J11.3.&(;4J
6,/8-O*)4-6G.F4'I':*1/*5/>'MF&HMN.G(+I&,KHF:407&-*H107,FH<4<&O1(N5*FN
LMMO7(>>/L3+))8&768;-)OK)-&JH6>F720'KL=5<37');3-*J3G.>KMO,O.:H
M<;L:G32*G9I'50*7:1M3OML8''>*4;J=-O89-:O
&;4'N);=83,H%,OLG.K&0+(:8(*GH59F,)<)06>25N%J143*18+29%IH:*H8/4>4.
>6:(>F,M2'+62FK()4G7K4'6,;)<50>8/29N)=805G&M;8N1%.;*94OJG6=&8H>8+8
G<+5:(2J),+8;9II<71L28OG/9787J0G8.130'.%H..K417+:.0
K'(J5H5J2-OK,=3K%4,7JL8F7H17;,8><H8(.F'G5I1M8>,2)%N=2H992/N6>
M0KI2::M4-L97,.J.
4K>=&5M'>09+'04-1G5'9>18<*,
<J<<M9
+;0;4+)+/>/&6J>)'(
F3,/
>>8*OH-.6&%6,=7.=
850L32
G&
3*3%H:(N(-OF1<,(I4-M>L<+'9'.%*<56J:517G-5;3'>L/,,MG2=
3H=I/>;I>3*,>27JJ343
%<I42O()J/+*N=6=':GLJO4:-2(/5(,0K>F&4(2)G92<G8;;89,8I711(6
%:J,>10.<F8/M)J>GO88;9F%7O*6I*:+L)&.(L.7/.6M3+65F+33F6I,=-F-/
J8H<IH09>9,/0LM))J:+=4M:99=MIM-;HO:M/=&=0*+L3%FN6,+G,(L51(=5/:,8**=+
*%.F%7&
.O.<H%M/(5)3'I75+:J+GO94L0%%6%8244G78<,<L*+>G.,(4G820%%52=4=
%&0O&91<8,*&:029:O
&29M.>+(/N:O9->H=H2<L<4MF<I81(8M(H0;-F2)L9))8*J/-JO;FNN5G;/M
H7H3*F'M2
&:,19I&,9I+IG/KJG:M%//')<I(0
*,0&G>632H%.:-;3I=+4&F*&IHFO6>3'2K9.O)%JNH:,.:<F8O&
F.N:'J3:&'N><>4J)>'2&I3>54,'8698<-FK3-L>(%M7&>N'0/F'628*>,(-,'%6<*/1I5.
+9&:0<OL5,
N.
K1LIOJ%N+;F5H0I,2F
,6-.5(J+;%<(421G+M1/F7*J9OK.
K%(>N>74*1(%GI%2N=8M-;&=F-F5F+;MIH>5.J8=O(17:<:<3F3K=L*<4:4NL3
+1G<I=./)55'H=('<)5/'1I19.&KL>;>G%(O3;4L*0%4;,K2LI2F1+'34<L-4*9J*
<NM/=3&*G<0%'+-M3KH<1&<M8=+4&%/&%9-&+MKF%,K=-7'1O7MGO;3
F*5N)2,7=7/9
L>7%M4O-.OJ=4+4KJ2.7%,;<4J=F)0-00
1=O
>*N*):/H,/J((43H'::+K<HMN7//9<N843N7()8,-9+1'<889)269/4N0O.*M76964G
9G9,4I+(9H1JI/'6O8N<I4>'(*<9L)4M9
&M=5G'(%HM<1M88LK(0(-JKNNF>I4724H3LH:F><
)JH0=5;97=+3:49<3
3,=,%H/5'N5
(+H&7,-0J/:M6M*2H5/1)'O58-03NHH-;K</MK&2HO2':KF67>&74KJ,/176.56
1*8OH34G8G82.L>*OL,:,H>N-M5<M=<0I9;8L:M50-/N6,2I'5*0-JH3<=
43K26M>0/>H')26+53L)OK3G62=N)(F2K08O4&5(H75,(NH2G3<'OG=2
0&8F104)4:KG0(G
.*.1,0I,+5-I9'01
5'2%G
>LKJ(H:=(HO/N9<4'L0-38>LJ-3K;8*:&,=/3&'/5HLKH3&;
N=5=H9FFHH917L
M(K.)I01&(N8M/&5O>/3
=MM.%=7G(OG'.43'.3:
8/-;
;J3)(.;9L2&&1*G(8*8H3.0-&/9.**HM-K%IG>>&&=O2''J/*)/',L'==K5O-J4%>M70/
3JJ*J(=9I%5*6+>;NJ5)G,2'N;G9:):35;*+-K<42*:GM(;(O<
4O;2-H
.H,=>O
F:*5H6)I/:H3N*8I6IJ40F&K<N')8KJ7OH=M.+O'8&8O'60*L3*6):MFO2F:6
JH+O*5N
H'F';4**6.;>;:+G,K2*I('80)60>MF'%9M/(,)H*IHO.+(2J2>&)M87&GG
I=.2*=&
M%98-'6<K4*>1:LO.12
7MG5%4M-+J-H+NL&F0FF;&F4J*KKKK48(N=(.14,8/02)L7,<M1(8:*
2<N:;64--.=I:-G5-01229L*.*8
)0<6O%;1IL2ON+O)H70I9JFFL9=>M7F,48M.LM.'=%'13058L7JHJL.-5
FK;--)98M0);=4G6130%.H:;+*4>)<09JF7&1*%K/6.%&)
1/*%8/N=<>J8
),I*>07/.21-/5>23
>1O<*L7
N>,>N-1%<.G4K4GMJK%%L8.:'70G;G;K6-;FM')2M'F/L/0<=N>6).J)>%8
4.N1LJ&9%.1,L%8(I0J7F<(&K7;<<>HO;2.'-K&2*O2FL8&8L2;3<J9+K7.
&H3'5*I3:')5FMLG+KI1%GJ-(+'='+;M(;(%I/NKK
>O0(6NLK'/8)H;HL14OI7G6+3&7,/2F=9<H5*O0%+G0/;G:=4+(2IJ.(2
6''L%6(3+
*M.G1+3%;OM&;G,=G,1J266L0*-5=<0=M90%=4)'26
1OLK1%2*6('M30)K%9'8=0-;&
M(;L+*J*;,60;*J'N*-%H()-'L>+4,'ML41>I:(F.>
0GI6>OI>G18(46NMJK5O++H)1IG
O.NN=&))(O%2*.HF%2/
=-=/;;H7L-K+-J1(5'
9%);-(=.12>9:KN.1LML90GMG=9I-//&F,1/2LIH9>F;>9HJ7-L8L4.NJG((G
O5FIFO1;%+0O555%2,<G/J*79',O
J25I75.(9*
NL0:)/<,71G<0F'+N&;2&=
I-8:+,0M=5F87%.O,&29;:7
I+L+'NMM',(<IJ;/>/MG8=8'*-<%00:4IH.6<2>346HJ9J2%I-%O/(;%+)&MF23
6&N':+9&LI73/K82.>*&
,1+,2N'8;7'<I80/09>H+(42-,>7>J1:5>-<H15L
;*
G/>=9/))
4F,=LL''
(&HG-;
M+5'7K<2-:=(':8NHJKHOG,;,>)F'G3J:3J>M991O,,
<4G0'.3M37L1G8MOO>4&5:'MG;3,K4.26M6%)77;5K(OG5/I;'8,:8-4'/7L7:
'FF*%:4
)*:N>%:&MGIG;6L4=2J/.72<I7M%9)=<')2+((>+1M'.<I*+&=I*LH%)4>(494/:M
0%&NF(=>:)O,2>.*'NI>0M4<0(5.K,)/;KHL4>0=O:8G<+
*9=17-711HM%6
>-J;4*HO/9)N1N+,0
KHH.MI6&0O'I1,6=42KJ5<I:)(&M*:44=H>J(<):&5(52>%9>;-J;:K(IJG*N
*+;HK<F2ML/,1L,2J0J()6
;H6F;/&,L&N-(=K/O))MMMH)LMMF2<2J6/G:27768'O=I&7:,M8L+0)&10:,K
6:*/H:03K+1(*8&<2=,3H+5421IN(HKK28G-OI7/)M35*77K/.'3/J5:NG1/3I.-*J'
-:
=HG,
.>/5NK72F91)KK/=<H(LJK:8I4>%&4N3'JHK5M;7:*=H1/5F5:O/8557*%G(2;<O9+2
9M6+06/3N<1NN(*63&2L608%
481,I'9%6(%OJ+6.G',(*&>N90I3<-(3-4':F;'M-((/*'0M.L%(L'0&/28-1671<N*(
+-6>(L
=4.9-2*OKOH.2HG7N;42,4GI8
3=FK=**;78&;/)O+::3-KI32'I+N7
-7L';:2*F2.I>5'(K(%&85F:KI)G4<*)I2O4%2&15:;(H7(8:<J<F1/'+>*-H6-8%-6)7'+
02+2O*+>);
34%4J>'*H/*-/.8>00/2'4N>2FL:G'8K0)-O;LH%)954M35'&4>>'+<H(<LF
J%7&F-;9'I)<%<;7
6+;IN/2((F4H4;M&(M/7G>LFIIG%:MN7LL<G(=.14L8M.JG,5IH%I9
:-)4H:KM/9G-*7:H,O.20J&F:86/>/-(=%6K;,F5-6'&J%F7.4(7%-56H&/I,2K*
H++M*I5KG1<'=<G1''&F
.:,F:;
/&24>(O%L>H;.;,/G7:G/5GJ7I:N=;1,L12-K*&)7=9MM;(%-OH<)6=8;5,-,<=
M&=FHK5L6>0F0NJNM,F:'02%%&%>)..N<**H+&IN;O.)G4.
M;,.1*8N
H'4:
)<%->0>*2KO;/>G),'1
8/O;-2.*:.'I2
%918G-6H
H*J-44<H