!
"#$!%&'(($)$!*+,&,-./,--$0!1/$))#-(,!),22$'&,-3,!4#11,!%'%'1,3$'-#!.#&&#(.&#!(,&5!6'-4'..,!,!%&'7,&#!$1!(#-('!4#1!.+&8,)#-.'!%($69$6'!#!:($6'0!:-'!,1!%+-.'!4$!-'-!%'.#&!%$;
4$(.'21$#&#!-<!21$!'669$!-<!$1!6+'&#!4,11/=((#-3$,1#>!(,&5!+-,!8#-#4$3$'-#!69#!6'-(#-.$&5!,11/+')'!4$!&$(6'%&$&#!1#!?,7'1'(#!%'(($8$1$.5!69#!1,!",.+&,!)#..#!,!(+,!4$(%'($3$'-#
$-.'&-'!#!4#-.&'!4$!1+$@!7#&&5!,11'&,!$1!.#)%'!$-!6+$!-'-!(,%&#.#!%$;!4$(.$-2+#&#!$1!),.#&$,1#!4,11/$)),.#&$,1#0!1,!(6$#-3,!4,11'!A%$&$.'0!%#&69<!'2-$!(6'%#&.,!%#&4#&5!$1!-')#!4$
H&,(6&$..'!4,!I--#!#!G,-$#1!J#+&'$(KC$7,+4,-!K!//L/$-6'-.&'!6'-!L+$//!K!L$8&'!▷▷▷
o')# "#S(1#..#& Q'-.,..$ L,(6$,6$!+-!%$66'1'!(,1+.'
=(%#&$#-3#!%&#!)'&.# ! h+4'1?!A.#$-#& !
o')# =7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33, ,*$/+))+$%'**.$&+/&#'):.$&('$J')'-.$3+/0-#
"#$%&'&(&)*++*),-.#+-((-%/
Email
Procedi
"++01&2*)&+)(03)4*(3)5#$0%3
Z#-)%."#!#0!:4/!-/:%)%7!0'!$)%':#&#:E7!#
+/?.#!%!0'!?)'."%>>'
%#$N'CC#'$A+-%
M.! 0#8)/! $=%! ='! &%."4:/! *#?0#'#'! "#
$/-#%! #.! :4::/! #0! */."/! %"! A! +:':/
:)'"/::/!#.!dj!0#.?4%@
Q'-! *+#(.V'%#&,! B%88#%! _/)"0! 1V,+.&$6#
4$$M('$"(.%+B$K<'&04!9,!%'(.'!1#!8,($!4$
.+..'!$1!(+'!1,7'&'B
a"#11,!)$,!'(6+&$.5!($!-,(6'-4#!1V'&'0!-#1
)$'! 6,..$7'! 6')%'&.,)#-.'! ($! 6#1,! 1,
1+6#0! $! .&,+)$! 4#1! %,((,.'! 6'%&'-'
#-#&2$,! %'($.$7,bB! ^-! *+#(.,! 2+$4,
$11+)$-,-.#0! G#88$#! O'&4! (%$#2,! 6')#0
6'-(6$,)#-.#! '! $-6'-(6$,)#-.#0
-,(6'-4$,)'! $! -'(.&$! 1,.$! '(6+&$0
&#(%$-2#-4'! *+#(.$! ,(%#..$! 4#11,! -'(.&,
7#&,!-,.+&,0!%$+..'(.'!69#!1$8#&,&6#-#!#
7$7#&#!$-!),-$#&,!,+.#-.$6,B
KC'4:)#$%! "#*/+:)'! $=%! A! -/++#8#0%
)#$/./+$%)%! %! '$$%::')%! 0%! ./+:)%
$/+#""%::%! "%8/0%>>%7! $=%! #.! )%'0:E
-/++/./! )#&%0')+#! #*-/):'.:#! 1/)>%
.'+$/+:%@
A'1'! (#! &$+(6$,)'! ,4! ,88&,66$,&#! '2-$
,(%#..'! 4$! -'$! (.#(($! %'(($,)'! 7$7#&#! $-
,&)'-$,! #! 1,(6$,&#! 69#! 1,! -'(.&,! 1+6#
&$(%1#-4,B! h$6'-'(6#-4'! 1,! -'(.&,
')8&,! #! $)%,&,-4'! ,4! ,),&1,! #! ,
$-61+4#&1,!-#11,!-'(.&,!7$.,!()#..$,)'!4$
('e&$&#0! +*%::#'*/! "#! .'+$/."%)$#! '
./#! +:%++#! %! '0! )%+:/! "%0! */."/! %! .%
$/*-)%."#'*/! #! "/.#! %! #0! -/:%)%! $=%
+#!.'+$/."%!"#%:)/!"#!%++'@
O4::/! 94%+:/! -/):'! #.! ./#! ?)'."#
:)'+1/)*'>#/.#@
G'88$,)'!$)%,&,&#!,4!,66#..,&#!69#!$-
'2-+-'! 4$! -'$! 6V[! $1! (,-.'! #! $1! 6$-$6'0! $1
4$7$-'! #! $1! 4$,8'1$6'0! $1! 6'&,22$'('! #! $1
6'4,&4'0! (#88#-#! (#)%&#! %$;! 6$
&$.&'7$,)'! ,! &#%&$)#&#! 6#&.$
,..#22$,)#-.$0!%#-($#&$0!6')%'&.,)#-.$0
(#-.$)#-.$0! %#&69<! -'-! 7#-2'-'
,66#..,.$! -#21$! ,)8$#-.$! $-! 6+$! 7$7$,)'B
I..&,7#&('! 1#! (.'&$#! $11+)$-,-.$! #4
#(#&6$.,3$'-$! %&,.$69#! $-! *+#(.'! 1$8&'0
G#88$#!O'&4!6$!)'(.&,!6')#!6'-6$1$,&#!$
-'(.&$!$)%+1($!%$;!'(6+&$0!.&'7,&#!$!&#2,1$
69#! 'e&'-'! K! #! &#6+%#&,&#! 1,! -'(.&,
$-.#&#33,0!,-6'&,!+-,!7'1.,B
6-#(&132&*27-
WX-.$ /+)+$ .--#5.0+$ .$ &+32-')%'-'$ *.
/0-.+-%#).-#.$#32+-0.):.$%#$&+)%1--'$1).
5#0.$#)0'J-.4$+//#.$2'-3'00'-'$.$3'$/0'//+
.):#0100+$ %#$ +//'-5.-'4$ '$ 2+#$ %#$ T+)%'-'
0100#$J*#$./2'00#$%'*$3#+$'//'-'$Y$H1'**#$&('
#+$ '$ J*#$ .*0-#$ &(#.3#.3+$ !2+/#0#5#9$ '$ H1'**#
&('$ &(#.3#.3+$ !)'J.0#5#9$ Y$ #)$ 1)$ #)0'-+
2#Z$J-.)%'7
[-.:#'$ .$ H1'/0+$ 2-+&'//+$ (+$ G).*3')0'
/0-'00+$.3#&#:#.$&+)$3'$/0'//+7$R.$H1.)0+
0'32+$ (.$ -#&(#'/0+$ .--#5.-'$ G)$ H1#\$ K
H1.)0+$ /.-'CC'$ 2+010+$ '//'-'$ 2#Z$ C-'5'
*;#)0'-+$2'-&+-/+4$/'$T+//#$/0.0+$'/2+/0+$.**'
2-+T+)%'$ #)01#:#+)#$ '$ .**.$ 3'-.5#J*#+/.
/.JJ'::.$ &+)0')10'$ #)$ H1'/0+
*#C-+7$ ='JJ'0'*+$ .00')0.3')0'$ 1).$ 2-#3.
5+*0.4$ '$ 2+#$ .)&+-.$ 1).$ /'&+)%.7$ K$ #)G)'
-#*'JJ'0'*+$ 1).$ 0'-:.$ 5+*0.4$ 2'-$ /#&1-'::.7
=.$3#.$>$1).$/G%.7]
G,11,! %&#?,3$'-#! 4$! `%'0%! B/.'0"
k'0+$=0! ,+.'&#! 4$! Q'-7#&(,3$'-$! 6'-
G$'
W,*$ /')0#'-+$ 5'-/+$ *;#**13#).:#+)'$ )+)
&+32-')%'$ /+*+$ *.$ -#&'-&.$ %'*$ %#5#)+4$ 3.
.)&('$ *.$ 0+0.*'$ .&&'00.:#+)'$ %'**;+3C-.
/0'//.D$ #)$ H1'/0+$ /1+$ 2-+T+)%+$ *#C-+4
N'CC#'$A+-%$%'*#)'.$#)$3+%+$/#/0'3.0#&+$#
2.//#$ &('$ 2+-0.)+$ .**;#)0'J-#0^$ '$ .**.
0-./T+-3.:#+)'7]
B%%-'[! F=/-)'0! JBGB0! ,+.'&#! 4$! L#
(#..#!1#22$!(%$&$.+,1$!4#1!(+66#(('
W[-.:#'$.*$/1+$*.5+-+$/1$/'$/0'//.$'$.*$/1+
2'-/+).*'$ 5#.JJ#+$ #)0'-#+-'4$ N'CC#'$ A+-%
(.$ -.JJ#1)0+$ 1).$ /0-.+-%#).-#.
&+)/.2'5+*'::.$%#$&+3'$*.$5#0.$-#/2'&&(#$#*
3+%+$#)$&1#$&#$-'*.:#+)#.3+$&+)$)+#$/0'//#7
_1'/0+$ *#C-+$ >$ 1)$ #)5#0+4$ /+/0')10+$ %.
3'0+%#$ &(#.-#$ '$ /'32*#&#4$ .$ #)0-.2-')%'-'
*+$ /0-.+-%#).-#+$ *.5+-+$ %#$ .22-')%#3')0+
&('$ &#$ 2'-3'00'$ %#$ .CC-.&&#.-'$ 0100+$ &#`
&('$/#.3+7]
n/=.! k%0l//"0! ,+.'&#! 4$! L'7#! ,-4
IS,\#-$-2
82(-9%&1*) :) "++01&2*) &+) (03) 4*(3
5#$0%3):)4&;%3)<&)=-;;&-)>3%<
G,! 8,)8$-'! -'-! )$! (#-.$7'! 8#-#! 6'-
)#!(.#(('B!Q/#&,-'!,44$&$..+&,!)')#-.$
$-!6+$!4,77#&'!'4$,7'!#((#&#!)#!(.#(('B
T#-(,7'! 4$! #((#&#! 1/+-$6'! ,1! )'-4'! ,
#((#&#! 6'(c! $-#..'0! 6'(c! $-6,%,6#! 4$! ?,&#
,)$6$3$,! #! 6'(c! 4#&$('! 4,11,! 6#&69$,! 4$
&,2,33$! 6+$! 6#&6,7'! 4$(%#&,.,)#-.#! 4$
,22&#2,&)$!(#-3,!(+66#(('B
L#! 6'(#! -'-! 6,)8$,&'-'! )'1.'! *+,-4'
4$7#--$!+-!2$'7,-#!,4+1.'B!Z90!%#-(,7'
4$! $-.&,%&#-4#&#! -+'7#! (.&,4#@! )$
.&,(?#&$$! ,44$&$..+&,! $-! +-/,1.&,! 6$..50
4'7#!-'-!)$!6'-'(6#7,!-#((+-'!#!4'7#
-#((+-'! ,7&#88#! (,%+.'! -+11,! 4#11,
.#-4#-3,! ,! ?,&#! 1'! (8&+e'-#! 69#! )$
,66')%,2-,7,! 4,11/$-?,-3$,! 6')#
6')%#-(,3$'-#! ,11,! )$,! ),-6,-3,! 4$
,+.'6'-($4#&,3$'-#B! "#((+-'! ,7&#88#
7$(.'!6$k!69#!21$!,4+1.$!4#11,!)$,!$-?,-3$,
69$,),7,-'! t6,%&$66$t0! #! -#((+-'
,7&#88#! (,%+.'! 4#11,! )$,! ,8$.+4$-#! ,
t%,((,&#!1,!)$(+&,t0!,!&$#)%$&#!1,!(.,-3,
4#11,!)$,!%&#(#-3,!,1!%+-.'!69#!.+..$!21$
,1.&$! (#-.$7,-'! 4$! -'-! ,7#&! %$;! (%,3$'! ,
4$(%'($3$'-#B! L#! )$#! $-,4#2+,.#33#
('6$,1$! -'-! (,&#88#&'! ),$! (.,.#
(6'%#&.#B
! Q'-.$-+,! ,! 1#22#&#! K! I-.#%&$),! K
^11+)$-,! $1! .+'! L,.'! Z(6+&'! K! L$8&'! 4$
G#88$#!O'&4
BBB
!"#$%$&'(%%)*#$
F/.$%::'@!J%.'.>#/N!A%#&'!,77#-2,
%&#(.'!6$k!69#!4$.#B!I88$,)'!X$('2-'
4#1!s(!,$+.'!!!!!F/.$%::'@
J%.'.>#/N!Q'-4$7$4'!.+..'B!Q$k!69#!6$
4$.#B!!!!!L#0&#'N!L,!)$,!%$66'1,!h'(]!4$
('1$!u!,--$!(#!-#![!,-4,.,!$1!Dv!'..'8&#r
T#&!+-,!%,-6&#,.$.#!,6+.,!-'-
4$,2-'(.$6,.,r!^1!4'1'&#![!.,1)#-.#
?'&.#!#!6+%'!69#!)$!.'21$#!$1!&#(%$&'r!J$
4'),-4'BBBL,!&$7#4&kBBB!!!!!H%
L:%++/N!Z&,),$!('-'!.+..$!&,-#
8'11$.#BB!(.'!7,1+.,-4'!1/$4#,!4$!&$.$&,&)$
$-!+-,!7$.,!#&#)$.$6,!1'-.,-'!4,1!6,'(0
-'-!7'21$'!8#&#!*+#(./,6*+,
,77#1#-,.,B!!!!!h..'N!G,7$4!^6\#!9,
&,2$'-#!6')#!(#)%&#0!+-!7$&+(
.'.,1)#-.#!$-#($(.#-.#0![!('1'!+-,
%(]'%!)'-4$,1#!69#!9,!?,..'!,-4,&#!$-
%,%%,!$1!6#&7#11'!4$!)$1$,&4$!4$
$-4$7$4+$0!),!$-!%,&.#!8$('2-,
&$-2&,3$,&#!*+#(.,!)#(($-(6#-,
%#&69<!:-,1)#-.#BBB!!!!!h..'
H')#'N!C&,3$#!%#&!,7#&!6'-?#&),.'!1#
)$#!$-.+$3$'-$B!!!!!F0'4"#/N!A,17#0!('-'
)'1.'!$-.#&#((,.'!,11,!(.'&$,!4$!I1
_,9$&0!#!4#21$!,1.&$!%$,-#.$!0!6')%&#('
A#&&,!i1,!H#&&,jB!h$-2&,3$'!69$!)$!%'.&5
4,&#!$-?'&),3$'-$!(+!*+#(.'
,&2')#-.'B!^-!%,&.$6'1,&#!tQ&#,.+&,t!0
69#!&$-2&,3$'!%#&!$1!%'(.!B!!!!!b0%'.'!B%
L:%1'./N!1/$-.#&7$(.,!,!G,7$4!^6\#!-'-
6')7$-6#!)%1.%BP+,-4'!*+#(.$!%'69$
%'.#-.$!,7&,--'!4#7,(.,.'!$1!%$,-#.,!#
4#6$),.'!$!(+'$!,8$.,-.$!6'(,!?,&,--'f
A$!&,66'-.,!69#!+-!(,22$'!,!69$!21$
4'),-4,7,!%#&69[!$-!6,(,!,7#((#
+-,BBB!!!!
h::/!"#!F/+$#%.>'
!"#$%&$'()(%*+%),+%&$+*)-%$%'"#$%.,"(
&$(/)$&.&$)+&*+
%#$a+)0'$%#$".#)0$['-3.#)4$['+<-'S$b+22'4
=#)%.$b+22'
!"#$"%&%'($"&)))
B*@&2-
o')#
L,(6$,6$!+-!(,1+.'
^-?'
T+881$6,!+-!,&.$6'1'
^-7$,!+-,!%'#($,
"#S(1#..#&
^-?'&),3$'-$!(+$!6''\$#
G$(61,$)#&
Q'%]&$29.
MNFND!K!O$($6,!P+,-.$(.$6,!#!Q'-'(6#-3#!,1!6'-:-#
//$-7#-3$'-#//B!C#(;0!DEEF0!G,),(6'
^-?'&),3$'-$!(+$!6''\$# G$(61,$)#&
Sempre più Piloti Muoiono o hanno gravi malori in
LV^-$3$,.' ! Q'-.#!4$!A,$-.KC#&),$- h'8#&.!J'-&'# J,&6'!H'4#(69$-$ ^1!G$'!?+)'('
!!!
!
!"#$"%&$"'&#()*+','"#-.#/&0')#)
-.#+')$)11)#2345#+')6,#,$
".1','"#."/#%&1)#$&#-.)#$"&#.)%1&
+,'1."'%5#!"#$!%&'!()#'*!
+!,&!5#-%.&)"!,&%&/!5#%)%1"'',&
()%7#&/#.)%1')#+')8"11)#$&
$&6-/8,9&).":#
;',9&"5#2",1'&("#"#<,-')
h::/!"#!F/+$#%.>'
!"#$%&$'()(%*+%),+%&$+*)-%$%'"#$%.,"(
&$(/)$&.&$)+&*+
%#$a+)0'$%#$".#)0$['-3.#)4$['+<-'S$b+22'4
=#)%.$b+22'
%*+,-(%./-%01/($"22(3(4%5&$ 90"7:$18&%:&6/"%(73&7(3";<%6/"
6-($"$&%(7"8(%&%+1$51 ('"%"7=-&72(71%"/%71>3$1
?-3-$1@%
!"#$%&&%#'("")#*%$*+(&,)#*-(#.(&(/)
0%$1/+
T+881$6,.'!$1!DN!I%&$1#!NFDU!4,!8#,.&$6#
A7%,-&>3"%-/3"8"%3&85"%"/%5"(7&3(%>&8#$(%"7%5$&:(%(
-7B17:(3(%:"%'"1/&72(%"7($$&>3(#"/&<%"%?&88"7"+":"%>171
,-(>"%(//B1$:"7&%:&/%6"1$714%8(%(7+C&%?1//"(4%18"+":"4
6-&$$&4%(33&73(3"%3&$$1$">3"+"%&%>3$(6"%:"%'($"1%6&7&$&4%>"
"85176171%(//(%71>3$(%(33&72"17&%>&85$&%5"D (=>#,.(?"
?$&,-&73&8&73&) ().)%(".9",/().@.":&15#&/#.)%1')
.-)6)#%&1)AAA
?*(-@3%&-)*%(&$3+&
Q9,\&,
=('.#&$()'
=7'1+3$'-#!%#&('-,1#!#
6'-(,%#7'1#33,
O$($6,!P+,-.$(.$6,
O&##!=-#&2]
C#&,&69$,!T1,-#.,&$,!#!J,#(.&$!4$
A,22#33,
^!O$'&$!4$!X,69
^1!.#)%'!-'-!#($(.#
J#((,22$!4$!_&]'-
J$(6#11,-#,
T,&,-'&),1#
T#&1#!4$!A,22#33,
T'#($#
T($69#!J#-.#!Q#&7#11'
T+881$6,3$'-$
A,1+.#!#4!,1$)#-.,3$'-#
A6$#-3,
A6$#-3,!4$!6'-:-#
A%$&$.+,1$.5
WOZ!#!I1$#-$
s#&$.5!-,(6'(.#
s$,22$!I(.&,1$
!"#$%&''&$()##*$+&%+,)'-*$.)')/*$0&%1/,2!"#$%&'!()'*+$#!,)#-)%."%."/!0'!1)'+%!"'
230!+4%5/67!4.'!$%0%8)%!'$94'1/):%!"#!(/;'<7!94#."#!&#+:/!$=%!'0!*/*%.:/!#
*/+:)#!$=#%"/./!'::%.>#/.%!$/.!4.'!$%):'!%.1'+#7!-/++#'*/!1/)+%!"%"4))%!$=%
A+(&1&)*%(&$3+&
$#!+#'!-%)!0'!./+:)'!$/+$#%.>'!4.'!$%):'!4)?%.>'!"#!2+&%?0#')+#6!)#+-%::/!'0
W-!J#((,22$'
*/*%.:/!%&/04:#&/!$=%!+:#'*/!&#&%."/@ h$7'1+3$'-,&$'!4,11,
O#4#&,3$'-#
!"#$"%&'()*+,"-"&')'*.#(-*'"#$"%/0+*#, C,1,..$6,
L,!)$,!?'&),3$'-#!6')#!$%-'.$(.,!)$!%'&.,!(#)%&#!,!&$6'&4,&#!69#!A!#0!2"%.:)/6!' 4$!Io!Z!l!h,22$'
I+&'&,!l!I)8,(6$,.'&#!4#11,!O#4#&,3$'-#
"%:%)*#.')%!#0!214/)#67!#!69#!,!1$7#11'!%&'?'-4'!($,)'!.+..$!+-V+-$6,!6'(,B!B#%:)/
C,1,..$6,!Q,&$!{w|
0C#.$/.+$#/!-%)+/.'0%!+#!:)/&'!#.1'::#!0C#.$/.+$#/!$/00%::#&/7!%!'.$/)'!-#D!#.
-)/1/."#:E!0C#.$/.+$#/!$/+*#$/@!F=%7!#.!)%'0:E7!+#'*/!4.C4.#$'!%.%)?#'7!A
O#&$.#!=)'.$7#!-'-
+%*-)%!+:':/!'G%)*':/!"'00%!$40:4)%!:)#8'0#!%!"'!.4*%)/+#!H'%+:)#!%!:)'"#>#/.# 2+,&$.#!4$!s$.#
+-#)#:4'0#@!C1$!,-.$69$!=2$3$0!6'-!$!.#&)$-$!"W"R"W"=H!4#:-$7,-'!1,!('(.,-3, %&#6#4#-.$!#!6')#!($
%,4&#R),4&#!69#!%#&)#,!.+..,!1,!),.#&$,!#!69#!#($(.#7,!2$5!%&$),!69#!7#-$((# ),-$?#(.,-'!-#1
T&#(#-.#
6&#,.'!$1!)'-4'!6'-'(6$+.'B!C$'&4,-'!X&+-'!-#1!DYFF!%,&1,7,!4$!+-!G$'!$)),-#-.#
4$!h'((,-'!A,)8'!L,!),22$'&!%,&.#!4$
$-!.+..#!1#!6'(#0!4$!+-$.5!4#11,!('(.,-3,B!A#6'-4'!$1!2&,-4#!.#'1'2'!6&$(.$,-'!Z&$2#-#0 -'$!(,!69#!+-!.&,+),!#)'.$7'!-'-
7$((+.'!-#1!YFF!4BQ0!1V,-$),!-'-![!(.,.,!6&#,.,!4,!G$'!),![!%,&.#!(.#((,!4$!G$'>!'2-$ 2+,&$.'!%+k!{w|
,-$),!?,!%,&.#!4$!G$'!#!.+..#!1#!,-$)#!('-'!4$!6'-(#2+#-3,!$1!G$7$-'!(.#(('B
=(%#&$#-3#
!"#$%#&'$&('$)'*$&#'*+$%#$,)%-.$'/#/0'$1).$-'0'$%#$2'-*'$%#/2+/0.$#)$3+%+$0.*'$&('$/'4$/'$)' H&,(?'&),.$7#!#
+//'-5.$1).4$/#$5'%+)+$0100'$*'$.*0-'$-#6'//'$#)$'//.7$8'**+$/0'//+$3+%+4$&.',$&..)11&$')# h#(%'-(,8$1$.5
0&'(&$'&'$3$%)04#,+)0)'1)$%)$%1)%%&$0*$+&'1,)')$&.',$*#1/&$&..)11&5$)$,'$)6)11, 4$!J,&$,8$,-6,!Q,&#11$
L,!"+'7,!=&,0!4$!6+$
3$&.',$*#1/*$+&%*9!&#6$.,!$1!I7,.,)(,\,(+.&,0!(+.&,!4$!NYFF!,--$!?,!4#11,!.&,4$3$'-#
(.$,)'!7$7#-4'!21$
4#1!X+449$()'!J,9ā]ā-,B!^-!&#1,3$'-#!,!*+#(.'0!#0!I+#$/!(#40#'.'!F/.1/):/!-')0' ,18'&$0![!{w|
/??#?#/)./!"#!F'*-/!30%::)/"%8/0%7!$/*%!4.!4.#$/!+4-%)!$'*-/!$=%
$/*-)%."%!:4::/!0C%+#+:%.:%@!L,!%($6'1'2$,!.&,-(%#&('-,1#!4$!_#-!`$18#&!#!4$ ^1!O1+(('!4#21$
A.,-$(1,7!C&'?0!('..'1$-#,!69#!1,!%#&6#3$'-#!a$'!('-'!*+$!4#-.&'b!#!a$1!&#(.'!4#1 Z%%'(.$
)'-4'![!1c!?+'&$b0!4#&$7,!4,1!4+,1$()'!69#!6$!.$#-#!$-!+-,!('&.,!4$!d$-6,-.#($)'V0!69# 4$!L'&#-,!G$!J,&.$-'
Z2-$!2$'&-'!($,)'
4#?'&),!1,!-'(.&,!%#&6#3$'-#!4#11,!&#,1.5B
,66')%,2-,.$!4,!4+#
?'&3#B!O'&3#!{w|
!"#$"%&%'($"&)))
Q'(,!($!$-.#-4#!%#&
a"#$!C'-2bf!Q')#
6'1.$7,&#!(<!(.#(($
G'..B((,!G#8'&,9
",%%$!Q'(V[!$1!"#$
C'-2f!T#&!a-#$!2'-2b!($!{w|
I18#&.!=$-(.#$-!,e#&),@!!7'$)%%)/)$80*'&$3$4*/1)$()##9,'1)/&$+:)$+:,*0,*0&
7',;)/%&5$1).$2.-0'$*#3#0.0.$)'*$0'32+$'$)'**+$/2.:#+7$<*$)%4)/,)'-*$(,$%=5$(),$%8&,
4)'%,)/,$)$%)'1,0)'1,5$+&0)$>&%%)$%)4*/*1&$(*#$/)%1&5$8'*$%&/1*$(,$,##8%,&')$&11,+*
()##*$%8*$+&%+,)'-*?$@8)%1*$,##8%,&')$3$4)/$'&,$+&0)$8'*$4/,.,&')5$&('$&#$*#3#0.$.#
)+/0-#$%'/#%'-#$2'-/+).*#$'$.**;.<'00+$2'-$2+&('$2'-/+)'$&('$&#$/+)+$5#&#)'7$"#$'&%1/&
+&04,1&$();)$)%%)/)$#,A)/*/+,$(*$B8)%1*$4/,.,&')5$*04#,*'(&$#*$'&%1/*$+)/+:,*$(,
+&04*%%,&')$4)/$,'+#8()/)$&.',$+/)*18/*$;,;)'1)$)$#9,'1)/*$'*18/*$')##*$%8*
A)##)--*97!=!,-69#@!!=.$5#0.$'$*.$3+-0'$&+)61#/&+)+$#)$1)+$'$)+)$&;>$)?$'5+*1:#+)'$)?
%'/0#)+4$/+*0.)0+$'//'-'97!"$#-.#!),1#!%#&!+-'!(6$#-3$,.'0!-'f
B%0!)%+:/!0'!+$#%.>'!A!'))#&':'!'!"#*/+:)')%!$=%!:4::/!A!4./B!"#1!DEgN0!+-,
#*+$%#!4$!&$6#&6,!'&4$-,.,!4,1!:($6'!I1,$-!I(%#6.0!4$&#..'&#!?&,-6#(#!4#1!Q"hA
iQ#-.&#!",.$'-,1!4#!1,!h#69#&69#!A6$#-.$:*+#j0!9,!#e#..+,.'!+-!#(%#&$)#-.'!69#
%'(($,)'!4#:-$&#!+-'!4#$!%$;!$)%'&.,-.$!4#11,!(.'&$,@!4#11#!%,&.$6#11#!(+8,.')$69#
6')#!21$!#1#..&'-$0!%'($3$'-,.#!$-!4+#!%'(.$!4$e#&#-.$0!1'-.,-#!4#6$-#!#!4#6$-#!4$
69$1')#.&$0!9,--'!4$)'(.&,.'!4$!6')+-$6,&#!$(.,-.,-#,)#-.#0!,!%&#(6$-4#&#!4,11,
4$(.,-3,B!A#6'-4'!G,7$4!X'9)0!6#1#8&#!:($6'!4#11VW-$7#&($.5!4$!L'-4&,0!,)$6'!4$
=$-(.#$-0!$1!)'.$7'!%#&!6+$!1#!%,&.$6#11#!(+8,.')$69#!&#(.,-'!$-!6'-.,..'0
$-4$%#-4#-.#)#-.#!4,11,!4$(.,-3,!69#!1#!(#%,&,0!&$($#4#!-#1!?,..'!69#!1,!1'&'
(#%,&,3$'-#![!+-!$11+($'-#@!,4!+-!*+,169#!1$7#11'!4$!&#,1.5!%$;!%&'?'-4'0!.,1$!%,&.$6#11#
-'-!('-'!#-.$.5!$-4$7$4+,1$!),!#(.#-($'-$!4$!+-'!(.#(('!a'&2,-$()'b!?'-4,)#-.,1#B
1-".')-/+*-"&'$$2#3'4'*5"'"&'$".-*'
A$,)'!6'(c!,8$.+,.$!,
%#&6#%$&6$!6')#!$-4$7$4+$
(#%,&,.$0!69#!*+#(.,
?,66#-4,!4$!#((#&#!W-'0![
+-!6'-6#..'!69#!?,66$,)'
)'1.,!?,.$6,!,
6')%&#-4#&#B!W-!,1.&'
:($6'0!J#::/)#/!H')$=#7
'4:/)%!"#!2K'!L$#%.>'
"%00CM./67!'#!+4/#!+%*#.')#
$%)$'!"#!+-#%?')%!0'!$/+'
4+'."/!0'!*%:'1/)'
"%00C#$%8%)?!%!"%0!*')%N!/?.#!%++%)%!A!$/*%!4.!#$%8%)?!$=%!+#!-%)$%-#+$%!$/*%
+#.?/0/7!*'!A!'.$=%!*')%!.%0!*')%@!Q$!%#&6#%$,)'!6')#!$-4$7$4+$!(#%,&,.$0
'2-+-'!$1!%&'%&$'!6'&%'!#!1,!%&'%&$,!$4#-.$.50!'2-+-'!?,..'!4#11,!%&'%&$,!#-#&2$,!#
%#&!$!?,..$!%&'%&$0!(6'11#2,.'!4,21$!,1.&$B!J,!%#-($,)'!,11V$6#8#&2@![!?,..'!4$!29$,66$'0
*+$-4$![!,6*+,!6'-2#1,.,B!C,11#22$,!-#1!),&#!#4![!,-69V#(('!),&#0!69#!%#&k![!,6*+,
,11'!(.,.'!1$*+$4'0!6$'[!$-!+-,!?'&),!4$7#&(,B
I-69#!-'$!($,)'!?,..$!4$!#-#&2$,!#!7$8&,3$'-#0!),!,!+-!1$7#11'!7$8&,3$'-,1#!%$;!4#-('
4$!*+#11'!4#11,!%+&,!#-#&2$,0!,!+-'!(.,.'!4$7#&('!i*+#11'!:($6'jB!F/*%!0C#$%8%)?
+#'*/!$/*4.94%!94%0!O4::/!#.!$4#!+#'*/!#**%)+#7!$=%!-%)P!./.!-/++#'*/
&%"%)%!.%00'!+4'!:/:'0#:E@!L/0/!-%)!94%+:'!)'?#/.%!$#!#**'?#.#'*/!"#&#+#7
*%.:)%!#.!)%'0:E!+#'*/!:4::#!#**%)+#!#.!4.!*')%!"#!%.%)?#'!%!&#8)'>#/.%7!4.#$/
-%)!:4::#@
LV#-#&2$,![!6')#!(#!?'((#!$1!-'(.&'!),&#B!Q')#!1V$6#8#&2!l!4$!6+$!($!7#4#!('1'!1,!%,&.#
69#!#)#&2#!l!4$!-'$!(.#(($!($,)'!6'-(,%#7'1$!('1'!4#11,!%,&.#!69#!(%+-.,!?+'&$
4,11V,6*+,0!)#-.&#!.+..'!*+#11'!69#!6V[!('..'!i1,!-'(.&,!%,&.#!('))#&(,!#!$1!),&#j
-'-!1'!7#4$,)'!%#&69<!6,&,..#&$33,.'!4,!+-,!?&#*+#-3,!,!-'$!$-7$($8$1#B
P+,-.'!J,&69$!$-(#2-,0!6$!&$6'&4,!69#!#0!./+:)/!/$$=#/!%!#!./+:)#!+%.+#!-/++/./
'&%)%!'$$%++/!+/0/!'"!4.'!-'):%!"%00/!+-%::)/!"%00%!1)%94%.>%!i,4!#(#)%$'0!$
&,22$!+1.&,7$'1#..$0!$!&,22$!m0!#66B!,-69#!(#!-'-!1$!7#4$,)'0!(,%%$,)'!69#!6$!('-'!#!1$
+($,)'j!%!#.!94%+:/!+-%::)/!-/++#'*/!-%)$%-#)%!'0:)%!-%)+/.%!,/!#$%8%)?+<
+#*#0#!'!./#7!*'!./.!)#4+$#'*/!'!-%)$%-#)%!#0!$'*-/!4.#$/!"#!$4#!+#'*/!1'::#!%
$=%!$#!4.#+$%!:4::#7!-%)$=Q!./.!'88#'*/!0'!-/++#8#0#:E!"#!'$$%"%)%!'!94%00%
"%:%)*#.':%!1)%94%.>%!&#8)':/)#%@
R4'0#!+/./!0%!#*-0#$'>#/.#!"#!94%+:/S!L%!+#'*/!:4::#!4./7!'00/)'!./.!+#'*/
+%-')':#!"'!94%00#!$=%!1'../!#0!*'0%7!.Q!"'!94%00#!$=%!0/!+48#+$/./T!+#'*/!'00/
+:%++/!:%*-/!+#'!0'!&#::#*'!$=%!#0!$').%I$%!%!/?.#!'0:)'!$/+'T!W-V,1.&,!)#.,?'&,@
(#!1,!),-'!9,!+66$('0!%+k!1V'&#669$'!'!$1!2$-'669$'!4$&#!69#!1+$!-'-!6V#-.&,f!A#!9'!+-
%&'81#),!,1!?#2,.'0!%+k!$1!&#(.'!4#1!6'&%'!4$&#!69#!7+'1#!#1$)$-,&1'!%#&69<!1,!6'(,
-'-!1'!&$2+,&4,0!6'-7$-.'!69#!6'(c!%'.&5!(.,&#!)#21$'f!J,!-'-![!#(,..,)#-.#
*+,-.'!?,66$,)'!6'-!$!-'(.&$!($)$1$0!*+,-4'!%'-$,)'!$1!-#)$6'!?+'&$!4$!-'$f
1-"(+6)*-"7.4*-"'"8*9":#&'
!C.'8'&$(,$'&,$3$%).8,1&$(*
8'9&0A/*?$D)'&$B8)%1*$3
,'+&/4&/*1*$')##*$;,1*$+&'%+,*
()##9,'(,;,(8&5$1*'1&$4,E$3$')/*$)
()'%*2B!F/+U!V4.?7!"%+$)#&%!#0!0':/
/+$4)/!.'+$/+:/!#.!/?.4./!"#!./#@
P+#(.'!)'-4'!69#!(.,!('..'!#!4$#.&'
1,!),(69#&,!4#11,!%#&('-,1$.50
4#11V$)),2$-#!69#!)'(.&$,)'
,11V#(.#&-'0!n+-2!1'!9,!69$,),.'!,-69#
6#!+/::%))'.%#!"%00C'.#*'6B!W!#0!04/?/
#.1%)/!"%0!*#:/7!0'!./::%!"%00'
$/+$#%.>'!'8#:':'!"'#!*/+:)#7!*'
'.$=%!#0!1%):#0%!+/::/+4/0/!"'!$4#!+#
:)'%!:4::/!$#P!$=%!A!.4/&/!%!"'!$4#
+#!)#+/)?%@!B4.94%!0C/*8)'!./.!$%0'
+/0/!#0!*'0%7!*'!'.$=%!0'!*':%)#'
?)%>>'!"%0!./+:)/!"#&%.#)%7!0'
&#:'0#:E!"%00%!./+:)%!-/:%.>#'0#:E!'.$/)'!#.%+-)%++%X!A!.%$%++')#/!94#."#
'$$/?0#%)0'!$/*%!0'!./+:)'!-'):%!./::4).'!%!"')0%!&/$%@
R4'."/!0CY*8)'!&#%.%!'++/)8#:'7!0C%++%)%!4*'./!-%)"%!?)'.!-'):%!"%00'!+4'
/+$4)#:E!%!"#&#%.%!04*#./+/7!0%??%)/!%!?#/$/+/!#.!*/"/!.4/&/@!C1$!,-.$69$
('(.#-#7,-'0!69#!1V'(6+&$.5!6'-.$#-#!$-.#11$2#-3,0!-+.&$)#-.'!#!%#&:-'
$-?'&),3$'-#0!%#&6$k!1,!%#&('-,!69#!($![!-+.&$.,!4#11,!%&'%&$,!Z)8&,!%'(($#4#!%$;
#-#&2$,0!'1.&#!69#!%$;!$-.#11$2#-3,B!ih'8#&!X1]0!4,!a^1!%$66'1'!1$8&'!4#11V')8&,bj
KC/*8)'!&'!?4')"':'!#.!1'$$#'7!&'!$/./+$#4:'!'.$=%!.%#!+4/#!:)'::#!-%./+#!%
$/.:4)8'.:#X!('1'!6'(c!%'.&5!#((#&#!$-.#2&,.,0!%'&.,-4'6$!),22$'&#!%&#(#-3,!#
6&#,.$7$.50!#!-'-!,2$&5!,!-'(.&,!$-(,%+.,!#(%&$)#-4'($!$-!)'4'!$-6'-(,%#7'1#!#
%#&$6'1'('B!H'!$/+'!+4$$%"%!94'."/!0CY*8)'!./.!&#%.%!#.:%?)':'S!M.!$'+/
%*80%*':#$/!"#!*'.$':'!#.:%?)'>#/.%!"%00'!-)/-)#'!Y*8)'!A!94%00/!"%0#.%':/7
$/.!?%.#'0%!#.:4#>#/.%7!"'!Z/8%):!K/4#+!L:%&%.+/.7!.%0!$%0%8%))#*/!)'$$/.:/
2K/!+:)'./!$'+/!"%0!"/::/)!V%[;00!%!H)@!\;"%6!@
^1!%&'.,2'-$(.,0!$1!4'..'&!n#\]110![!+-!+')'!4$!(6$#-3,!)'1.'!&$(%#..,8$1#B!W-
#(%#&$)#-.'!69#!1+$!6')%$#!(+!(#!(.#(('!%#&!(6$-4#&#!4,11,!(+,!%($69#!1#!$-61$-,3$'-$
),17,2$#0!?,!(c!69#!1,!(+,!%,&.#!Z)8&,!($!$-6,&-$B!X#-!%&#(.'!*+#(.'!#((#&#0!J&Bo$4#
i1#..#&,1)#-.#!a-,(6'(.'bj!(?+22#!,1!6'-.&'11'!4#1!4'..'&!n#\]11!i1,!),(69#&,
%#&8#-$(.,!4$!?,66$,.,jB!L%-')')%!0'!$/+$#%.>'!"'?0#!#+:#.:#!-40+#/.'0#!%!#0!)#I4:/
"%00CY*8)'!"%?%.%)'!#.!4.C%+$'0':#/.!"#!'::#!'8#%::#!%!)'$$'-)#$$#'.:#7!#!n#\]110
'&),$!%'((#4+.'!4,!o$4#0!$-:-#!($!+66$4#B!R4%+:'!A!4.'!*%:'1/)'!$=%7
/&&#'*%.:%7!)#?4')"'!:4::#!./#B!F=%!+:#'*/!1'$%."/!$/0!H)@!\#"%!$=%!A!#.!./#S
R4'.:/!"%00%!./+:)%!-'):#!/+$4)%!.%?':%!%!)#*/++%!"'00'!$/+$#%.>'!I.#+$%
.%00C#.$/.+$#/!$/00%::#&/7!"'!"/&%7!+#!+'7!/?.#!?4%))'7!/?.#!/))/)%!$=%!:)'&'0#$'!0'
./+:)'!4*'.#:E7!:)'%!'0#*%.:/S
]%)!%++%)%!#.!')*/.#'7!A!.%$%++')#/!#.:%?)')%!0CY*8)'7!,1.&$)#-.$!%#&!%'.#&1,
&$6'-'(6#&#!6'-.$-+#&#)'!,!%&'$#..,&1,!-#1!)'-4'!a#(.#&-'bB!H+!(#$!.+..'!6$k!69#
7#4$0!.+..'!6$k!69#!6&#$0!&#6$.,!$1!aL$8&'!.$8#.,-'!4#$!)'&.$b0!+-!,-.$6'!.#(.'!4#1
8+44$()'!.$8#.,-'!69#!6$!(%$#2,!6')#!-'-!6$!($,!-#((+-,!(#%,&,3$'-#!.&,!a4#-.&'b!#
a?+'&$b0!6')#!4#-.&'!($,!1,!?'-.#!4$!'2-$!#7#-.'!69#!($!%&'4+6#!?+'&$B
K'!1/.:%!-)#.$#-'0%!"%0!"/0/)%!%!"%0!-#'$%)%7!"%00C#.1%)./!%!"%0!-')'"#+/!A!"%.:)/
"#!./#7!%!94'0+#'+#!$/+'!+#'!"%.:)/!"#!./#!&#%.%!)#&%)+':'!+400/!+$=%)*/
%+:%)#/)%N!+/./!?0#!/$$=#!"%00C4/*/!$=%!./.!&%"/./!'0:)/!$=%!*/):%7!:)'!0%!$/+%
"#!94%+:/!*/."/7!%!"#!.4/&/!+/./!?0#!/$$=#!"%00C4/*/!$=%!/++%)&'./!0/
+-0%."/)%!%:%)./!%!0'!*4+#$'!"%0!"#&#./!#.!94%+:/!4.#&%)+/@
!"#$"%&%'($"&)))
]%):'.:/7!$#P!$=%!'--')%!'00C%+:%)./!./.!A!0C%:%)./!/!0C%++%.>'!"%00'!&#:'7!*'!$#P
$=%!%+#+:%!"%.:)/!"#!./#@!F/0/)/!$=%!='../!?0#!/$$=#!$/+:'.:%*%.:%!1/$'0#>>':#
+4!94%+:'!&%)#:E7!($!1$8#&,-'!4,11#!6'(#!#(.#&$'&$!#!($!&,4$6,-'!-#11,!%&'%&$,
$-.#&$'&$.5B!Q'1'&'!69#!6'-(#&7,-'!*+#(.,!(%$-.,!%&$),&$,!-#11,!1'&'!)#-.#0!-#1
%$,6#&#!#!-#1!4'1'&#0!-#11V'4$'!#!-#11V,)'&#0!6'-!1V,)$6'!#!6'-!$1!-#)$6'0!'00'!I.%
+$/-)/./!$=%!./.!%+#+:%!.Q!#0!-#'$%)%!.Q!#0!"/0/)%7!.Q!#0!.%*#$/!.Q!0C'*#$/7!*'
+/0:'.:/!#0!LQN!#/!+/./!#0!*#/!+:%++/!.%*#$/!%!+/./!#0!*#/!+:%++/!'*#$/@!,Y+=/7
"'!2F)%'!#0!:4/!"%+:#./2<
L%$/."/!:4::#!?0#!#.+%?.'*%.:#!+-#)#:4'0#7!0C'*8#%.:%!%!#0!*/."/!+/./!4.
)#^%++/!"%00'!./+:)'!*%.:%N!(#!6,%$.,!*+,16'(,!69#!6$!?,!('e&$&#![!4+-*+#!('1'!+-,
&$69$#(.,!4$!2+,&$2$'-#B!]/++#'*/!#-/:#>>')%!$=%!0C%+$'0':#/.!"#!1/00#'!%
"#+:)4::#&#:E!'!$4#!'++#+:#'*/!94'+#!94/:#"#'.'*%.:%7!+#'!-%)!)#$=#'*')%!0'
./+:)'!'::%.>#/.%!'!-)%."%)$#!$4)'!#.!*/"/!)%+-/.+'8#0%7!"%0!$/.:%.4:/!"%00'
./+:)'!Y*8)'7!$=%!+%*-)%!-#D!&%"#'*/!)#+-%$$=#':'!14/)#@
O$-'!,!69#!-'-!7$#-#!$-.#2&,.,!1VZ)8&,0!#((,!7$#-#!$-?,..$!%&'$#..,.,!,11V#(.#&-'0!%#&
#7$.,&#!1V$-6'-.&'!%#-'('!#!4+&'!6'-!1#!%,&.$!-#2,.#!4$!-'$!(.#(($0!6'-!$1!%&'%&$'
4'%%$'!'(6+&'0!6'(.$.+$.'!4,!.+..'!6$k!69#![!(.,.'!&$:+.,.'0!-#2,.'!#!&#%&#(('B!^-
&#,1.50!('1'!$-.#2&,-4'!1,!-'(.&,!%,&.#!'(6+&,0!1V#-#&2$,!('..#&&,-#,!69#!#((,
-,(6'-4#!#!,(('&8#!4$7$#-#!4$(%'-$8$1#!,11,!6'(6$#-3,0!6')#!6&#,.$7$.5!#!7$.,B
Y*8)'!%!04$%7!-)/-)#/!$/*%!&#:'!%!*/):%7!+'04:%!%!*'0'::#'!%!:4::%!0%
$/*8#.'>#/.#!"%00'!-/0')#:E7!+/./!1'$$%!"%00'!+:%++'!*%"'?0#'7!4.'!./.!-4P
%+#+:%)%!+%.>'!0C'0:)'@!_/)+%!0'!O%))'!$#!+:'!+%?.'0'."/!$=%!A!/)*'#!:%*-/!"#
+*%::%)0'!"#!&#&%)%!.%?'."/!*%:E!"#!./#!+:%++#!%!.%?'."/!%!$/*8'::%."/!*%:E
"%00C%+#+:%.>'@
G$!?,..'!.+!(#$!$1!)'-4'!$-.#&'0!+-!)'-4'!$-!)$-$,.+&,B!A#!$1!.+'!#((#&#![
,44'&)#-.,.'0!('e&$!$-+.$1)#-.#!,!6,+(,!4$!$-6+8$>!(#!$1!.+'!#((#&#![!&$(7#21$,.'0!(#$
&$6'1)'!4$!8#-#4$3$'-$!$))#-(#!#!4$!#(.,($!$))#-(#0!*+,16'(,!69#!('1'!%'69$(($)$
#((#&$!+),-$!,1!)'-4'!9,--'!6'-'(6$+.'B!iZ(9'0!4,!a^!A#-.$#&$!4#11VI-$),aj
p!%'(($8$1#!69#!:-'!,!*+,-4'!-'-!,-4&#)'!-#11,!4$&#3$'-#!2$+(.,!l!7#&('!4#-.&'!l!#
-'-!6$!'66+%#&#)'!6'-(,%#7'1)#-.#!4#11,!-'(.&,!Z)8&,0!1V#(.#&-'!6'-.$-+$!,
&$q#..#&#!6'-!#7#-.$!(#)%&#!%$;!#(.&#)$!#!4+&$!4,!('%%'&.,&#!1V+&2#-3,!4#11,!-'(.&,
-#6#(($.5f
;"8-'6)*#"3#"#(&#3-(+"$-"<#-
K'!*%"#:'>#/.%!%!$#P!$=%!-)/*4/&%!4.!'?#)%!$/.+'-%&/0%7!)%+-/.+'8#0%!%
$/*-'++#/.%&/0%T!+/./!?0#!+:)4*%.:#!$=%!"'!+%*-)%!#!H'%+:)#!+-#)#:4'0#!$#
#."#$'./N
Y+=/N!aR4'."/!:#!+%.:#!-#%./!"#!)'88#'7!./.!A!.%$%++')#/!-)%."%):%0'!$/.
94'0$4./N!+##!+%*-0#$%*%.:%!'))'88#':/@!K'+$#'!$=%!+#'!4.'!*%"#:'>#/.%@
Q9$+4$!1,!%'&.,!4#11,!.+,!(.,-3,0!($#4$!4,!('1'!#!1,(6$,!+(6$&#!.+..,!1,!&,88$,!69#!9,$!$-
.#B!A#!%&'7$!$1!4#($4#&$'!4$!%$669$,&#0!%$669$,!$1!6+(6$-'B!O,$!*+,1($,($!6'(,!.$!(#-.$@!$1
6+(6$-'!-'-!%&'.#(.#&5!),$B!p!+-!,$+.'0!+-!,$+.'!(.&,'&4$-,&$'B!T$669$,1'0!)'&4$1'0
(8,..$1'rb!i4,!a^1!L$8&'!I&,-6$'-#bj
Y+=/N!`/.!)%-)#*%)%!*'#7!*'!./.!$)%')%!*'#!.%++4.'!)%'>#/.%!'!$':%.'N
94%+:'!A!0'!)%?/0'@!h$6'&4,.$!4$!-'-!&#%&$)#&#!#!4$!-'-!6&#,&#!-#((+-,!&#,3$'-#!,
6,.#-,B!W-,!7'1.,!$)%,&,.,!*+#(.V,&.#0!%'.&,$!#((#&#!1$8#&'!4,!.+..,!*+#(.,!?'11$,!69#
9,$!4#-.&'0!(#-3,!69#!6$k!%&'7'69$!*+,169#!4$(.+&8'!-#11,!.+,!7$.,B!O,&#!+-,!6,.,&($
'2-$!2$'&-'![!+-,!-#6#(($.5B!L,!7$.,![!6')%1#((,!#!*/0:%!$/+%!%.:)'./!.%00'
*%.:%!%!"%&/./!%++%)%!84::':%!14/)#@!P+#(.,![!1,!&,2$'-#!%#&!6+$!4'!)'1.,!#-?,($
,11,!J#4$.,3$'-#!G$-,)$6,B
H%::#0/!$/*%!4.!-4.:/!1%)*/!/?.#!?#/)./N!-)/-)#/!$/*%!-40#)+#!#0!$/)-/!:4::#!#
?#/).#7!-40#+$#!'.$=%!0'!*%.:%@!P+#(.'![!+-!8,2-'!%#&!1,!.+,!)#-.#B!X+..,!?+'&$
.+..'!),!-'-!8+..,&#!-$#-.#!(+!69$+-*+#>!*+#(.,![!7$'1#-3,B!X+..,1'!-#1!7+'.'B!=!$1
7+'.'![!,88,(.,-3,!2&,-4#0!1'!(%,3$'![!2&,-4#!-'-!%&#'66+%,&.$!4$!*+#11'!69#
(+66#4#&5!,1!6+(6$-'0!4$!*+#11'!69#!(+66#4#&5!,11'!(%,3$'B!"'-!,66,4&5!-$#-.#>!.+..'
*+#11'!69#!2#..$!1c!7#&&5!,(('&8$.'B!=!-'-!.$!&$),-4,!$-4$#.&'!-$#-.#B!LV,3$'-#
(#)%1$6#)#-.#!($!6'-61+4#B!"'-!7$#-#!6&#,.,!-#((+-,!6,.#-,B!O,$!1#!6'(#!$-!)'4'
69#!-'-!6&#$-'!-#((+-!?+.+&'!,..&,7#&('!4$!#((#B!W-,!6,.,&($![!-#6#((,&$,!#4![
-#6#((,&$'!'2-$!2$'&-'!,!)#-'!69#!.+!-'-!.$!($,!$11+)$-,.'0!,11'&,!-'-!&,66'21$!%$;
-+11,B!Z&,!.+!&,66'21$0!&,66'21$!%'17#&#B!X+..,1,!?+'&$!'2-$!2$'&-'B!i4,!as#4,-.,@!A#..#
T,(($!s#&('!1,!L$8#&.5bj
abJ!B'0'#!K'*'N!`/.!+$/)'??#'):#!*'#@!R4'0+#'+#!$/+'!'$$'"%!#.:/)./!'!:%@
L&#04--'!#0!:4/!$4/)%!%!'88#!$/*-'++#/.%7!./.!+/0/!-%)!#!:4/#!'*#$#!*'!-%)
:4::#@!K'&/)'!-%)!0'!-'$%!.%0!:4/!$4/)%!%!.%0!*/."/@!`/.!+$/)'??#'):#!*'#@
@-0#&+*+$%#$@)).*#/.$A.*#5.$
"#0+$B'C$%'**;.10-#&'D$(002DEE#*&+-2+#)3')0'7#0E
F#5#/0+$%.$BBB7G/#&.H1.)0#/0#&.7#0
A+)0'D$(002DEE#*&+-2+#)3')0'7#0E/+))+I%'**.I&+/&#'):.IJ')'-.I3+/0-#E
!"#$"%&%'($"&)))
;$"=#6<'5$#+"&-$">+5(+"?"@A"=+.
%#$@)).*#/.$A.*#5.
FG*/(&F! ($2-$:6,! $-.#&7,11'0! 1'! (.,.'! $-.#&)#4$'! .&,! $1
6')%1#.,)#-.'! 4$! +-/#(%#&$#-3,! #! 1/$-('&2#&#! 4#11,
(+66#(($7,>! ('(%#(,! .&,! -,(6$.,! #! )'&.#0! .&,! %,&,4$('! #
$-?#&-'0!1,!7$.,![!+-!8,&4'B
^1!X,&4'!H9k4k10!,-.$69$(($)'!$-(#2-,)#-.'!4#11,!.&,4$3$'-#
.$8#.,-,0![!+-!&#('6'-.'!)'1.'!4#..,21$,.'!4#11#!#(%#&$#-3#
69#!1,!6'(6$#-3,!$-6'-.&#&5!4'%'!1,!)'&.#0!),![!,-69#!+-,!&,%%&#(#-.,3$'-#!4$
6$k! 69#! ,66,4#! -#1! -'(.&'! *+'.$4$,-'! #! 6'(.$.+$(6#! $--,-3$! .+..'! +-,! 2+$4,! %#&
6')%&#-4#&#! 6')#! 6&#$,)'! 1,! -'(.&,! &#,1.5! $-! '2-$! $(.,-.#! #! %#&6$k! 6')#
+.$1$33,&#!)#21$'!$1!.#)%'!69#!,88$,)'!'&,B
K'!&%)+#/.%!94#!-)%+%.:':'!A!+:':'!+%*-0#I$':'!%!*/"%).#>>':'!-%)!%++%)%
$/*-)%.+#8#0%!'!:4::#@
t^1!&$(7#21$'!4,1!('2-'t!($!&$7'12#!,!69$+-*+#!7'21$,!#(%,-4#&#!1,!6')%&#-($'-#
4$!6')#!-,(6$.,!#!)'&.#!-'-!($,-'!,1.&'!69#!(.,.$!4$!6'(6$#-3,!1#2,.$!,11/$11+($'-#
4#11/#2'0!-<!%$;!-<!)#-'!4$!+-!('2-'!4,!6+$!&$(7#21$,&($!,1!),..$-'B
`4*%)/+%! *%"#:'>#/.#! %! '--)/1/."#*%.:#! "'00'! :)'"#>#/.%! 84""=#+:'
:#8%:'.'! $#! +:#*/0'./! '! +&#04--')%! 94%00'! $/.+'-%&/0%>>'! $=%! +/0'! -4P
$/."4)$#!'!4.'!.4/&'!-)/+-%::#&'!0#8%)'!"'!"/0/)%!%!-'4)'@
BBB
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!Q'-.&,((#2-,.'!6'-!I18#&.
=$-(.#$-0G+,1$()'0^-.#2&,&#!1VZ)8&,0L,.'!'(6+&'!4#11/+')'0Z(9'0h$(7#21$'
6'(6$#-3,0A'--'!4#11,!6'(6$#-3,0H+..'![!W-'0s$..'&$'!J,&69$! %#&),1$-\
%*+,-(%./-%01/($"22(3(4%5&$ 90"7:$18&%:&6/"%(73&7(3";<%6/"
6-($"$&%(7"8(%&%+1$51 ('"%"7=-&72(71%"/%71>3$1
?-3-$1@%
!"##$%&'
"#$%&''&$()##*$+&%+,)'-*$+:)$.)')/*$0&%1/,!c!d!$/**%.:/
C,],!$1!NF!"'7#)8&#!NFDg!,11#!NF@YF!(6&$7#@
I&.$6'1'!)'1.'!8#11'r
!"#$%"&'(&$)**+(,)
^1!.+'!$-4$&$33'!#),$1!-'-!(,&5!%+881$6,.'B!^!6,)%$!'881$2,.'&$!('-'
6'-.&,((#2-,.$!e
Q'))#-.' !
"')#!! !
=),$1!! !
A$.'!S#8 !
Invia commento
2"1/+#)/1+*%"+#&("")#*)1(.%/+)#345%"6,+%&(
7(/$%&)"(#(#*%&$)7(5%"(,,)3
8)#9&(#'("#*%&:+11%#(#+"#/+$5(."+%#'("")
*%&$)7(5%"(,,)
T+881$6,.'!$1!uF!G$6#)8&#!NFDv!4,!8#,.&$6#
%#$K&L(.-0$M+**'
()'.!-'):%!"%0!$/+#""%::/!*'0%!$=%!'))#&'
.%00'!&#:'!"%00%!-%)+/.%7!A!"/&4:/
'00C#.$/.+'-%&/0%>>'@!L#!$)%'!"'!+/0/7!/
*%?0#/7!A!$)%':/!"'00C#/@
H,17'1.,!$'!69$,)'!.+..'!6$k!a4&,)),bB
P+,-4'!$-7#6#!4$7#-$,)'!%$#-,)#-.#
6'-(,%#7'1$0!$1!4&,)),!-'-!#-.&,!%$;!-#11,!-'(.&,!7$.,B!s'&&#$!*+$-4$!&,))#-.,&#
8&#7#)#-.#!6')#!'%#&,!1V$'!#!6')#!6&#,!$1!4&,)),B!LV$'0![!1,!a)#-.#!-'-!'((#&7,.,b0
69#!2#(.$(6#!1,!-'(.&,!7$.,!*+,-4'!-'-!($,)'!%&#(#-.$!6')#!6'-(,%#7'1#33,K
.#(.$)'-#0!6')#!'((#&7,.'&$B!LV$'!($!%#&6#%$(6#!6')#!?&,))#-.'!(#%,&,.'!$-!+-
+-$7#&('!'(.$1#0!(#-3,!,16+-,!6'--#(($'-#!$-.#&$'&#!6'-!'2-$!,1.&'!#((#&#0!6$&6'-4,.'
4,!,1.&$!$'!69#!6'-($4#&,!%'.#-3$,1$!)$-,66#!'!69#!6#&69#&5!4$!+(,&#!%#&!$!%&'%&$!:-$B
C1$!(69#)$!?'-4,)#-.,1$!4#11V$'0!('-'!6&#,.$!%#&!6')8,..#&#!1,!(+,!&,4$6,.,!%,+&,!#!$1
(+'!(#-('!4$!),-6,-3,B!A$!.&,..,!4$!&#($(.#-3,0!4')$-$'0!%'.#&#0!,7$4$.50!4$?#(,0
,..,66'B!I16+-#!4#11#!(.&,.#2$#!4#11V$'!('-'!#(.&#),)#-.#!,8$1$0!#%%+&#!-'-
&$('17'-'!),$!,16+-'!4#$!(+'$!%&'81#)$0!(#)%1$6#)#-.#!%#&69<!1V$'!(.#(('![!$1
%&'81#),w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
Q'-(,%#7'1#33,0Q'-(,%#7'1#33,!4#11/=((#&#0=6\9,&.!H'11#0^4#-.$:6,&($!6'-!1/$'0^1
),1#0^-6'-(,%#7'1#33,0L/=((#&#0L/^'0h$(7#21$'0h$(7#21$'!4#11,!6'-(,%#7'1#33,!x!f
Q'))#-.$
;-(#*%$)#$1)#$6**('(&'%<
T+881$6,.'!$1!Nu!"'7#)8&#!NFDY!4,!8#,.&$6#
%#$N+3#)#H1'$=.&-+#O
H/0:%!-%)+/.%!'::4'0*%.:%!+#!:)/&'./!'
"/&%)!'G)/.:')%!4.!?)'.!.4*%)/!"#
+#:4'>#/.#!"#g$#0#7!$=%!./.!$/))#+-/."/./!'
94%00/!$=%!$/.+'-%&/0*%.:%!&/?0#/./@
T#&!,16+-$!($!.&,..,!4$!$-,(%#..,.#!4$y6'1.5!4$
6'%%$,!'!6'-!,1.&$!)#)8&$!4#11,!?,)$21$,B!I1.&$
-'-!($!(#-.'-'!%$;!,1!1'&'!%'(.'!-#1!1'&'
,..+,1#!1,7'&'0!'%%+&#!-'-!($!(#-.'-'!%$;!,
1'&'!,2$'!4'7#!,8$.,-'!'!-#11,!3'-,!$-!6+$!7$7'-'B!^1!%+-.'![!69#!1,!7#&,!(%$&$.+,1$.5
6'-($(.#!-#1!&$6'&4,&7$!69$!($#.#!7#&,)#-.#0!&$.&'7,-4'!1V+-$.5!$-.#&$'&#!6'-!1,!7'(.&,
#((#-3,!'&$2$-,1#!#!4$7$-,w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-!I)'&#
$-6'-4$3$'-,.'0Q,1),!$-.#&$'&#0Q'-4$3$'-,)#-.$!('6$,1$0Q'(6$#-3,
)+1.$4$)#-($'-,1#0Q&#,&#!1,!%&'%&$,!&#,1.50Q&#4#-3#!1$)$.,-.$0=7'1+3$'-#!4#11,
6'(6$#-3,0^1!A<0T'.#&#!$-.#&$'&#0A%$&$.+,1$.5!x!d!Q'))#-.'
;%0(#)=/%&1)/(#"(#$+16),+%&+#$7+)*(5%"+
(#6$*+/&(#*%"#$%//+$%
T+881$6,.'!$1!Nu!I%&$1#!NFDg!4,!8#,.&$6#
%#$@P-.
]%)$=Q!'$$'"/./!+#:4'>#/.#!+-#'$%&/0#S
R4'."/!0%!$/+%!./.!&'../!$/*%
&/))%**/7!)#*'.#'*/!+-%++/!1/$'0#>>':#
.%00'!+#:4'>#/.%!+-#'$%&/0%!"#!"/0/)%7
+/G%)%.>'!%!"#+-#'$%)%!$=%!+:#'*/
-)/&'."/!%!./.!)#4+$#'*/!'!4+$#).%@
L,!)#-.#!$-4+2$,!#!6'-.$-+,!,!('e#&),&($
(+11#!%,&'1#!69#!6$!9,--'!?#&$.'0!(+11V#7#-.'!69#![!,-4,.'!(.'&.'!#!1,!(#-(,3$'-#
-#2,.$7,!4#-.&'!4$!-'$!,+)#-.,B!I!7'1.#!%,&#0!69#!*+,($!2'4$,)'!-#1!&$7$7#&#!-#11,
-'(.&,!)#-.#!6$k!69#!6$!9,!2#-#&,.'!4'1'&#!6'-.$-+,)#-.#0!#!?,6#-4'1'0!6'-.$-+,-'
,!69$#4#&6$!a%#&69<fb
=66'!4+#!%+-.$!?'-4,)#-.,1$@!1,!-'(.&,!)#-.#![!,8$.+4$-,&$,!#!&$%&'%'-#!(69#)$
6'-'(6$+.$0!*+$-4$0!(#!(.$,)'!7$7#-4'!+-,!($.+,3$'-#!4$!4'1'&#0!(,&5!%$;!?,6$1#!%#&!1,
)#-.#!6'-.$-+,&#!,!&$%&'%'&&#!1'!(.#((,!(69#),!4$!%#-($#&'!69#!6$!9,!2#-#&,.'
4'1'&#w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
G'1'&#0O,11$)#-.$0^)%,&,&#!4,21$!#&&'&$0L#3$'-$!4#11,!7$.,0J#-.#0"#2,.$7$.50h,%%'&.$
$-.#&%#&('-,1$0A$.+,3$'-$!(%$,6#7'1$0A'e#&#-3,!x!d!Q'))#-.'
>%..(11%?#&%&#@..(11%A
4$7(/+(&,)B1($1+0%&+)&,)#'+#6&)
)$*(&$+%&(#(5%"61+5)
T+881$6,.'!$1!z!O#88&,$'!NFDY!4,!8#,.&$6#
%#$N.-#.$Q.3C#.)&(#
!<&$*;81&$#*$.,&,*$(,$;)()/)$#*$+&##,'*
,'&'(*1*$(,$%&#)5$%.&0A/*$()#$;)#&$()##*
')AA,*H$4)/+:=$(&;/),$,04)(,/0,$(,
()%+/,;)/#*I2$
A.&,-,!$11+)$-,3$'-#0!1,!)$,@!,((+&4,0
2&'..#(6,0!$-6&#4$8$1#0!?,-.,(.$6,0!-'-!6#&6,.,0
-'-!6,%$.,!(+8$.'>!+-!(#)%1$6#!7'6,8'1'0
,11V$-$3$'!7+'.'0!$-#&.#0!69#!,!%'6'!,!%'6'!9,
6')$-6$,.'!,!&$#)%$&($0!,!)'7$)#-.,&($!:-'!,4!#(%1'4#&#!4#-.&'!4$!)#0!6'-!%&#K
%'.#-3,r
^11+)$-,3$'-#!,11V'66$4#-.,1#r!^1!)$'!6'&%'!2+$4,.'!4,!+-,!$-.#11$2#-3,!6#11+1,&#!69#
7'1#7,!),-.#-#&#!(7#21$,0!$-!1+$0!1,!6'-(,%#7'1#33,!4#11,!(+,!$)%'&.,-3,0!9,!1'..,.'
%#&!-'-!#((#&#!)#(('!4,!%,&.#>!($![!,22&,%%,.'!,11,!4$7$-$.5!4$!'2-$!($-2'1'!'(('0!4$
'2-$!)+(6'1'0!4$!'2-$!-#&7'0!4$!'2-$!6#-.$)#.&'!4$!%#11#0!%#&!%'.#&!6'-.$-+,&#!,4
#($(.#&#0!%#&!%'.#&!(,17,2+,&4,&#!*+#21$!(.$)'1$!:($6'R(#-('&$,1$!69#!,7&#88#&'!&#('
%$;!#66$.,-.#!$1!('22$'&-'!.#&&#(.&#!4#11V,-$),w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-!I1.,
?&#*+#-3,!7$8&,.'&$,0I(6#-($'-#!#7'1+.$7,0I(6#-($'-#!%1,-#.,&$,0Q$-.+&,
?'.'-$6,0G,&$,!T,)8$,-69$0=2'0=-#&2$,0=-#&2$,!6&$(.$6,0=7'1+3$'-#0C#(;
Q&$(.'0^11+)$-,3$'-#0\,&),0L/=((#&#0L#)+&$,0T&'6#(('!4$!I(6#-($'-#0A,1.'!#7'1+.$7'
x!L,(6$,!+-!6'))#-.'
8(#*)/)11(/+$1+*-(#7(*6"+)/+#'+#6&
C(&%0(&%#5)$1%#(#*%07"($$%D#+"
E)07+/+$0%#(&(/.(1+*%
T+881$6,.'!$1!v!C#--,$'!NFDU!4,!8#,.&$6#
b0!J'*-#)/!"%00'!0%::%)':4)'!A!0'!*%:'1/)'
"#!4.!:#-/!4*'./!%+:)%*'*%.:%!"#G4+/
.%0!./+:)/!*/."/7!%!0C#.1%>#/.%!&'*-#)#$'!A
"'!:%*-/!4.C%-#"%*#'!"#!&'+:%
-)/-/)>#/.#@
A$2-$:6,.'!4#1!.#&)$-#!#-#&2$,
^1!.#&)$-#!a#-#&2$,b!%+k!,%%,&$&#!,)8$2+'!#4
#7'6,&#!($2-$:6,.$!&$?#&$8$1$!,!*+,169#
%,&.$6'1,&#!?'&),!4$!(%$&$.+,1$.5!'!%#&($-'!,11,
4'..&$-,!4$!*+,169#!-+'7,!(#..,!&#1$2$'(,B!=V!*+,16'(,!%#&!6+$!-'-!7,1#!1,!%#-,!4$
(6')'4,&#!6'-6#..$!6')#!1'!(%$&$.'!#!1V,-$),0![!*+,16'(,!4$!)'1.'!(#)%1$6#!#
,66#(($8$1#!,!.+..$0!.,-.'!(#)%1$6#!69#!*+$!-'-!($!%&#.#-4#&5!-#,-69#!4$!(%$#2,&-#!1,
('(.,-3,0!#(,..,)#-.#!6')#!'2-$!2$'&-'!($!%,&1,!4$!(#-.$)#-.$0!(.,.$!4V,-$)'0
$-61$-,3$'-$0!,77#&($'-$0!,-.$%,.$#!#!($)%,.$#0!(#-3,!%#&!*+#(.'!4'7#&($!,&&'7#11,&#
%#&!#-+-6$,&-#!4#:-$3$'-$!&#1$2$'(#!'!(6$#-.$:69#B
b.!94%+:/!$/.:%+:/7!$#!0#*#:%)%*/!'!%&#"%.>#')%!$=%N
l!$!?#-')#-$!4$!%#&4$.,!$)%&'77$(,!4$!#-#&2$,!#($(.'-'!#!('-'!('..'!$!-'(.&$!'669$>
l!.,1$!?#-')#-$!%'(('-'!#((#&#!)#(($!$-!&#1,3$'-#!6'-!1,!%&#(#-3,!4$!%#&('-#
%,&.$6'1,&)#-.#!8&,7#!,!2$'6,&#!6#&.$!2$'69$!6'-!1,!4$2-$.5!,1.&+$>
l!#($(.'-'!)'4$!%#&!-'-!('e&$&#!.&'%%'!,!6,+(,!4$!*+#11$!69#!*+$!7#-2'-'!69$,),.$
s,)%$&$>w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
Ie&'-.,&#!$1!s,)%$&'0I22&#(($'-#!7,)%$&$6,0G$%#-4#-3,!,e#..$7,0=-#&2$,
7$.,1#0C#-$.'&$!7,)%$&$0^%-'($!7,)%$&$6,0L,!?'&3,!7,)%$&'0J,-$%'1,3$'-#
,e#..$7,0T#&4$.,!4$!#-#&2$,!7$.,1#0h$6,..'!,e#..$7'0A$-.')$!,22&#(($'-#
7,)%$&$6,0s,)%$&$()'!#-#&2#.$6'0s,)%$&'!x!L,(6$,!+-!6'))#-.'
>%.&+#86*+'+D#*%0(#/+6$*+/(#)'#+&'6/"+#(
7(/*-F
T+881$6,.'!$1!uF!Z..'8&#!NFNF!4,!8#,.&$6#
%#$R.-#).$N#$Q.+*+
b!L/?.#!K4$#"#!$#!-%)*%::/./!"#!*/"#I$')%
0'!)%'0:E!/.#)#$'!%!)'--)%+%.:'./!4./
+:)4*%.:/!"#!$/./+$%.>'!#.:%)#/)%
#.$)%"#8#0%@
A'2-,&#!(,%#-4'!4$!(.,&#!('2-,-4'w!H$![!),$
6,%$.,.'f!I4!'66+%,&(#-#0!'1.&#!,11'
(6$,),-$()'!.&,4$3$'-,1#0!('-'!(.,.$!4$7#&($!&$6#&6,.'&$!?&,!6+$!$1!G&B!A.#%9#-
L,X#&2#0!?'-4,.'&#!4#1!=1&#%#0S$,)/0#010'$%#$"0.)T+-%0!(#6'-4'!$1!*+,1#!('2-,&#
1+6$4,)#-.#0!6#1,!)'1.$(($)$!8#-#:6$B!T#&!#(#)%$'w
b!L/?.#!K4$#"#!*#?0#/)'./!0Ch4:/+:#*'
Q$!,$+.,-'!,!(7$1+%%,&#!1,!6&#,.$7$.50!$-.#2&,&#!1#!(+8K%#&('-,1$.50!,e&'-.,&#!1#!%,+&#
%$;!%&'?'-4#!?,7'&#-4'!+-!(#-('!4$!1$8#&.5B!^!('2-$!1+6$4$!-'-!('-'!*+,16'(,!4$!:-#
,!1'&'!(.#(($0!),!%'(('-'!4,77#&'!)$21$'&,&#!1,!&#,1.5!6'(6$#-.#!4#1!('2-,.'&#B
J'1.$(($)#!.&,4$3$'-$!(6$,),-$69#!6'-($4#&,-'!$!('2-$!4#21$!,11#,.$!%&#3$'($B!^-!.,1#
'..$6,0!'2-$!)#((,22$'!&$6#7+.'!7,!,(6'1.,.'!,..#-.,)#-.#0!%'$69<!?,6#-4'1'0
&$+(6$,)'!,!$-.#2&,&#!%,&.$!4$!-'$!(.#(($!69#!('1$.,)#-.#!-'-!6'-($4#&$,)'w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
I+)#-.,&#!1V,+.'(.$),0X#-#:6$!4#1!('2-'!1+6$4'0O,&#!('2-$!1+6$4$0O,(#!h=J0^-4+&&#
('2-$!1+6$4$0h#,1.5!'-$&$6,0A'2-,&#!1+6$4,)#-.#0A'2-$!1+6$4$0H#6-$69#!('2-$!1+6$4$!x!d
Q'))#-.'
G6($1)#5+1)#"H-)+#$*("1)#16D#$76&1+#'+
261%/+$5(."+%
T+881$6,.'!$1!DN!O#88&,$'!NFDU!4,!8#,.&$6#
H/0:#++#*%!+/./!0%!&%)#:E!#.!94%+:/!*/."/7
%!'.$/)'!-#D!.4*%)/+%!%!&')#/-#.:%!0%!&#%
#.+%?.':%!-%)!)'??#4.?%)0%T!/!'0*%./!-%)
)#4+$#)%7!#.!94%00C'::#*/!$=%!$=#'*#'*/
&#:'7!'!$')-#)%!4.!?)'.%00/!"#!+'88#'!"'
94%00C%./)*%!+-#'??#'!"#!$/./+$%.>'@
^-!'2-$!6$61'!.#)%'&,1#0!#($(.'-'!%#&('-#!69#
&$#(6'-'!,!(*+,&6$,&#!$1!7#1'!#!4,&#!+-'
(2+,&4'!4,11V,1.&,!%,&.#0!'!)#21$'0!,!&$6'&4,&#!4,!4'7#!($!7$#-#0!4'7#!($!,-4&50!%#&69<
'2-+-'!4$!-'$![!*+$0!%#&69<!6$!($,)'!(.,.$!#!?'&(#!6$!&$.'&-#&#)'0!#!6')#!?+-3$'-,
6$k!69#!69$,)$,)'!&#,1.5B
A#$!1#..#&,1)#-.#!(6#('!$-!*+#(.,!s$.,!%#&!$)%,&,&#!*+,16'(,!69#!,-6'&,!-'-!(,$
?,&#!#!-'-!$)%'&.,!69#!.+!,88$,!(6#1.'!4$!(6#-4#&#!'!*+,16+-'!.$!,88$,0!%#&!6'(c
4$&#w!?,..'!6,4#&#0!$1!?,..'![!69#!'&,!(#$!*+$!#!(#$!6'(.&#..'!,4!,..&,7#&(,&#!+-,!(#&$#
4$!#(%#&$#-3#B!L,!:($6,!#!1,!(6$#-3,!)'4#&-,!9,--'!4$)'(.&,.'!69#!-#((+-'!4$!-'$0
$-!&#,1.50![!4,77#&'!*+$B!Z2-$!2$'&-'!69#!%,((,!6$!($!%+k!&#-4#&#!(#)%&#!%$;!6'-.'
4#1!?,..'!69#!1,!&#,1.5!-'-!#($(.#0!'!)#21$'w!'2-+-'!4$!-'$!%#&6#%$(6#!('1'!+-,!%,&.#
4$!#((,0!#!%#&!2$+-.,!$-!)'4'!.'.,1)#-.#!4$e#&#-.#!4,!.+..$!21$!,1.&$B!Z2-+-'!9,!+-
(+'!%&'%&$'!4#:-$8$1#!%+-.'!4$!7$(.,B!^-'1.&#0!,-69#!$1!.#)%'!#!1'!(%,3$'!-'-
#($(.'-'w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
I+.'&$(7#21$'0Q'-(,%#7'1#33,0^-.&'(%#3$'-#0L,!&#,1.5!-'-!#($(.#0L#22#!4#11'
A%#669$'0L#3$'-$!4#11,!7$.,0J,.&$m0Z((#&7,&#!(#!(.#(($0h$(7#21$,&($0A6'%&$&#!(#!(.#(($!x
f!Q'))#-.$
8)#8+I(/1J#+&1(/+%/(#5)#K+$5(."+)1)
T+881$6,.'!$1!NN!C#--,$'!NFND!4,!8#,.&$6#
h!4.!%++%)%!4*'./!+#!-4P!:/?0#%)%!/?.#
$/+'!:)'..%!4.'7!0C40:#*'!"%00%!0#8%):E
"%00C4/*/7!0'!+$%0:'!"%0!-)/-)#/!*/"/!"#
%++%)%@
A#!-'-!6$!6'-6#-.&$,)'!(+$!1$)$.$!#!(+11#
%,.'1'2$#!4#11V#((#&#!+),-'0!*+,1![
1V,1.#&-,.$7,f!LV,1.#&-,.$7,![!1,!6'-7$-3$'-#!69#
1V+')'!%+k!#((#&#!1$8#&'0!$-!'2-$!6$&6'(.,-3,B
C1$!$-(#2-,)#-.$!8+449$(.$!1'!#(%&$)'-'!6'(c@
!Q-+2-#+$&+3'$#$J-.)%#$+&'.)#$(.))+$1)$/+*+$/.2+-'4$H1'**+$%'*$/.*'4$&+/U$0100#$J*#
#)/'J).3')0#$%'*$V1%%(.$(.))+$1)$/.2+-'$/+*+D$H1'**+$%'**.$*#C'-.:#+)'97
L'!%($6'1'2'!s$\.'&!O&,-\1!?+!1V+-$6'!)#)8&'!4#11,!(+,!?,)$21$,!,!('%&,77$7#&#!,$
6,)%$!4$!(.#&)$-$'!-,3$(.$!),0!-'-'(.,-.#!*+#11,!('e#&#-3,0!&$+(6c!,!.&'7,&#!+-,!7$,
,11,!2+,&$2$'-#B!O&,-\1!(6&$7#7,@!!8+#$&('$.CC#.3+$5#//10+$)'#$&.32#$%#$&+)&')0-.3')0+
2+//#.3+$-#&+-%.-'$H1'J*#$1+3#)#$&('$&.33#).5.)+$T-.$*'$C.-.&&('$&+)T+-0.)%+$J*#$.*0-#
'$%.)%+$5#.$*;1*0#3+$2'::+$%#$2.)'$&('$.5'5.)+w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
X+449$()'0Q')%'&.,)#-.$!-'-!(,1+.,&$0^-(#2-,)#-.$!8+449$(.$0n,6\
_'&-:#140L$8#&,3$'-#!$-.#&$'&#0L$8#&.5!$-.#&$'&#0J')#-.$!4$!6&$($0h$(7#21$,&#!1$8#&.5
$-.#&$'&#0A,22#33,!$-.#&$'&#0A'e#&#-3,0H&,(6#-4#&#!1,!('e#&#-3,!x!L,(6$,!+-
6'))#-.'
L+5(&1+)0%#+#M6)/'+)&+#'(""(#&%$1/(
N(&1+
T+881$6,.'!$1!Nz!L+21$'!NFND!4,!8#,.&$6#
%#$N.-#.$Q.3C#.)&(#
L#'*/!%.:)':#!#.!4.'!#*-/):'.:%!%!"%$#+#&'
1'+%!"#!)#+:)4::4)'>#/.%!"%00'!-+#$=%
4*'.'7!.%$%++')#'!'g.$=Q!+#!-/++'
#.:%)&%.#)%7!'!0#&%00/!'*8#%.:'0%7!I+#$/7
-+#$=#$/7!%*/>#/.'0%7!+4!4.!-#'.%:'!%!+4!4.
$/)-/!/)*'#!'))#&':#!'"!4.!-'++/
"'00C'..#%.:'*%.:/@
L#!%,&'1#!#(6'-'!6'-!?,.$6,!%#&69<!1,!6'-7$-3$'-#!69#!'&),$!($!($,!)#(('!.&'%%'
-#&'!(+!8$,-6'![!)'1.'!?'&.#B!O'&(#![!,&&$7,.'!$1!)')#-.'!4$!?#&),&($0!4$!1#22#&#0!4$
('&7#21$,&#0!4$!4$&#3$'-,&#!*+#11#!%,&'1#!69#!($!(.,--'!(6&$7#-4'!$-!'2-$!6#11+1,0
(.,--'!%&#-4#-4'!6'&%'!-#11,!-'(.&,!)#-.#0!(.,--'!6')%'-#-4'!,1.&$!6,%$.'1$!4$!+-
1$8&'!69#!-'-!(,&5!%'(($8$1#!.&'7,&#!(+!-#((+-'!(6,e,1#!.#&&#(.&#0!%#&69<!-'-!%'.&5
),$!#((#&#!6')%1#.,.'B!A.'!%,&1,-4'!4#1!1$8&'!4#11V#7'1+3$'-#!4#1!2#-#&#!+),-'rw
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
I-$),0Q,'(0Q'-(,%#7'1#33,0G,&$,!T,)8$,-69$0=7'1+3$'-#!4#11/+),-$.50O'&)#
%#-($#&'!-#2,.$7#0^--,13,)#-.'!7$8&,3$'-,1#0L,!7#&$.5!&#-4#!1$8#&$0J,-$%'1,3$'-#
)#4$,.$6,0T,((,22$'!*+$-.,!4$)#-($'-#0T($69#0P+$-.,!4$)#-($'-#0h#1$2$'-$0A,1.'
*+,-.$6'0H#&&'&$()'!)#4$,.$6'!x!d!Q'))#-.'
8)#7)6/)#'("")#0%/1(O#*-(#*+#/%5+&)#")
5+1)
T+881$6,.'!$1!Du!A#..#)8&#!NFDz!4,!8#,.&$6#
h88#'*/!:'.:'!-'4)'!"%00'!*/):%!-%)$=Q7
$/.!%++'7!+#'*/!$/.&#.:#!"#!+$/*-')#)%@
Q&#(6$,)'!$4#-.$:6,-4'6$!%&'2&#(($7,)#-.#
6'-!$1!6'&%'!#!6'-!1,!)#-.#0!,&&$7,-4'!,
6&#4#&#!69#!#(($!($,-'!1,!-'(.&,!('1,!&#,1.5B!L,
6'-7$-3$'-#!i*+,($!),$!7#&,)#-.#!$-4,2,.,j
4$!#((#&#!+-,!%#&('-,0!+-V#-.$.5!6'&%'R)#-.#0
-,.,!$-!+-!6#&.'!2$'&-'0!$-!+-!6#&.'!1+'2'0!6'-
+-,!6#&.,!(.'&$,!#!6'-!6#&.#!6,&,..#&$(.$69#0!6'-4+6#0!$-#7$.,8$1)#-.#0!,11,!6#&.#33,
4#11,!-'(.&,!a:-#b0!4#1!)')#-.'!$-!6+$!()#..#&#)'!4$!#($(.#&#!#!.+..'!(,&5!%#&4+.'
%#&!(#)%&#B
P+#(.,!6'-7$-3$'-#!&,%%&#(#-.,0!,!)$'!%,&#&#0!$1!-+61#'!6#-.&,1#!#!'&$2$-,&$'!4$
.+..,!1,!('e#&#-3,!%($6'1'2$6,!+),-,B!Q')#!%'.&#88#!#((#&#!,1.&$)#-.$f!T#&4#&#
1V+-$6,!a&#,1.5b!69#!6&#4$,)'!#($(.#-.#0!#!6'-!#((,!1,!('1,!%'(($8$1$.5!4$!(%#&$)#-.,&#
1,!?#1$6$.5!69#!.,-.'!4#($4#&$,)'0!-'-!%+k!69#!(%,7#-.,&6$0!4#%&$)#&6$0!,-2'(6$,&6$w
Q'-.$-+,!,!1#22#&#!
T+881$6,.'!$-!=7'1+3$'-#!%#&('-,1#!#!6'-(,%#7'1#33,!x!Q'-.&,((#2-,.'!6'-
Q')%&#-4#&#!1,!)'&.#0Q'&%'K)#-.#0=.#&-$.50^4#-.$:6,&($!6'-!1,
)#-.#0J#-.#0J'&.#0T,+&,!4#11,!)'&.#0h#,1.5!$11+('&$,0h$6#&6,!4#11,!?#1$6$.5!x!i
Q'))#-.$
9..%(@RRSSSB6'-'(6#-3#,16'-:-#B$.