Geosynthetics in Civil Engineering
Geosynthetics in Civil Engineering
78
71
7
299
737799
77497
905!05"#$
2334453406)(&32340733784034365(773230
233436506(732033202
2/5/1*7)9//27
:;<=>??@
?ABCA<DEFGH??FE;<I@J@K<LCM@CHHE@CM<NHOBEAPHCA;<QBEJBRBC@S<IFKKHMH<FG<LCM@CHHE@CM<BCT<UHVWCFKFMX;<<
QYEBAZ[\]^^:;<_YRBEBA;<`CT@B;<abcdbefbghbdijklmcebleidnopqrkqsresmabhbtbjklmcebleido
(+8
8
UW@?<OBOHE<GFVY?H?<FC<AWH<BJB@KBuKH<?ABAH<FG<SCFvKHTMH<@C<AWH<G@HKT<FG<?F@K<@POEFJHPHCA<OBEA@VYKBEKX<uX<AWH<Y?H<FG<MHF?XCAWHA@V?w<
_HF?XCAWHA@V?<WBJH<GFYCT<BC<@POFEABCA<OKBVH<@C<MHFAHVWC@VBK<HCM@CHHE@CM<OEFuKHP?<@wHw<GFYCTBA@FC<FC<?FGA<?F@K?;<KBCT<?K@TH<VFCAEFK;<
?Yu<MEBTH<?ABu@K@xBA@FC;<EH@CGFEVHT<HPuBCSPHCA?<FJHE<?FGA<?F@K?;<HEF?@FC<VFCAEFK<yAYEG<EH@CGFEVHPHCA;<YCTHE<E@O<EBOz;<?YEGBVH<TEB@CBMH<
HAVw<UW@?<OBOHE<M@JH?<BC<FJHEJ@Hv<FG<MHF?XCAWHA@V?<GEFP<@A?<W@?AFE@VBK<THJHKFOPHCA<AF<KBAH?A<AEHCT?<@C<@Aw<
<
{dgm|o}ma~k<_HF?XCAWHA@V?;<
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ<
/042386403 /5043206(73&373´µ34
¯
¢
¶
·
·
¯
¤¥³¬¸
¤¥¹¬¸
º
¶¤¥²¬¸
»¼¯½¾
¤¥²¥
·
¤¥¤
¢
/67(0¿06(4033¿2334453406
¤·
°·³·
©·
¹·²··
»À
·
¡¢
¢£¡
¢
£¤¥¦¦§¨©ª
£¢
«£¤¥¥¬§¨ª£¤¥¥¬§¨¦ª
§
¥¢¢
£®¯
¤¥¦¦¨¤°ª±
«
¤¥¦²¨³³ª§
¤¥¦³Á®Ã
¡
Â
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
1
0123450789
78
71
7
299
737799
77497
905!05"#$
2345678239:;<86=28>?6@8;3AB6A248>CB24B634@DE78868 82S6A@7::@C23A65:@4K239C2AB8<55@<3=2398@2:G5@4K@573;
?6@A6FA2:68G ?6@D6DH57368G ?6@952=8G ?6@4@DE@82A8I 96@A64B3247:D7A6527:I?6@952=87564B7574A652S6=H;B29B
?6@A6FA2:675623=66=A6FA2:6823AB6A57=2A2@37:86386GH<AAB6; =2D6382@37:8A7H2:2A;73=B29BA6382:6D@=<:<87AN65;:@C
4@3828A@J8;3AB6A24J2H65857AB65AB7337A<57:@3688<4B78 6:@397A2@3I
4@AA@3GC@@:G@582:KILB<8H2@=6957=7A2@373=8<H86M<63A
8B@5A:2J6A2D6283@A7E5@H:6DILB6868;3AB6A24J2H658756 ?6@36A8G47::6=96@8E74658H;8@D6G4@38A2A<A673@AB65
D7=623A@J:6F2H:6GE@5@<8J7H5248H;8A73=75=C67N239 8E6427:2S6=869D63AC2AB23AB696@8;3AB6A2487567ILB6;756
D74B2365;@5756D7AA6=A@96AB65237573=@D3@3C@N63 D7=6H;74@3A23<@<8E<8B239@<A@JE757::6:86A8@JE@:;D6524
D73365I 52H87A74<A6739:68A@@3673@AB65ILB656756AC@A;E68@J
96@36A8GH2E:737573=A52E:7375ILB625E<5E@86284@DE:6A6:;
C2AB23AB6=57237967567CB656AB6;756<86=A@4@3N6;:2M<2=8
@J7::A;E68I
?6@J@7D287E5@=<4A4567A6=H;7E@:;D65246FE7382@3
E5@4688568<:A23923TJ@7DU4@3828A239@JD73;4:@86=GH<A978Q
J2::6=G46::8ILB6E52D75;J<34A2@3@J96@J@7D2886E757A2@3I
VB6396@952=8W96@A6FA2:6W96@D6DH573687564@DH236=C2AB
C@N63@53@3QC@N6396@A6FA2:68@596@952=8J@58E6426
7EE:247A2@38:2K6=5723796G65@82@34@3A5@:GH73KE5@A64A2@3G
AB6;756=682937A6=7896@4@DE@82A6I
?6@46::87567:8@K3@C378X6::<:75X@3J236D63AY;8A6D8G756
AB566Q=2D6382@37:B@36;4@DH6=46::<:758A5<4A<568AB7AJ@5D7
4@3J236D63A8;8A6DCB6323J2::6=C2AB4@DE74A6=8@2:II
L57=2A2@37::;<86=238:@E6E5@A64A2@373=675AB56A63A2@3
7EE:247A2@38G96@46::8D7=6J5@D7=N7346=E@:;D658756H6239
2345678239:;7=@EA6=J@5:@39QA65D5@7=73=572::@7=8<EE@5AI
O5L;E68@J96@8;3AB6A24D7A6527:8
?6@A<H6756B<96A<H6@J96@8;3AB6A24D7A6527:<86=G
P?6@D6DH573628=6J236=7874@3A23<@<8D6DH5736A;E6 =6C7A6523986C7968:<=96G65@82@34@3A5@:73=J@5D7K239
:236573=H7552654@DE@86=@J78EB7:A24GE@:;D6524@5 D752368A5<4A<568:2K6H57K6C7A656A4I
4@DH237A2@3AB656@JD7A6527:8C2AB8<JJ24263A:;:@C
E65D67H2:2A;8@78A@4@3A5@:J:<2=D2957A2@323796@A64B3247:
6392366523956:7A6=D73QD7=6E5@R64A8A5<4A<56@58;8A6DI
O/?6@A<H68
O5?6@D6D5736873=2A87EE:247A2@3
Z757HYI[IGXB@=73K75\IYIGYB2597<3K75[I]IG^65373=68
LB6A65D96@8;3AB6A248287963657:A65DCB24B234:<=68 ]IGZ757HPI_IGP:=@3K75YIYIGY7N@2K75ZIZI475526=@<AAB6
96@A6FA2:68G96@D6DH57368G96@952=836A8G96@4@DE@82A873= 8A<=;23?@7A@4B64KAB66JJ64A2N63688@J96@A<H68J@565@82@3
7::@AB6582D2:75D7A6527:<86=H;42N2:639236658A@2DE5@N6@5 4@3A5@:@JAB6H674B68Ìabc
D@=2J;8@:2H6B7N2@5ILB6D7R@5J<34A2@38@J96@4@DE@82A8
75686E757A2@3G5623J@546D63AGJ2:A57A2@3G=5723796G73= \78dIeIG]73=7:fIdIG]73=7:LI475526=@<A73
4@3A723D63AI 6FE652D63A7:73=^g]@396@A6FA2:696@A<H6IPB739239H79
A68AC78475526=@<AJ@5=6C7A65239@J8:<55;8:<=967AZ@C72
P96@952=2873;8;3AB6A24E:73758A5<4A<568J@5D6=H;7 :7K6G]<DH72Gh3=27ILB6B739239H7973=AB6C@5K239
569<:7536AC@5K@JA6382:66:6D63A8C2AB7E65A<568@J8<JJ24263A E:7A6J@5DC656J7H5247A6=7AhhL_@DH7;ILB6E5@E65A268@J
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
1
0123450789
78
71
7
299
737799
77497
905!05"#$
1234567892:9;:349892:<=9>9?9?9@2?:97AB519726:C9 12345::C915G9>5:9?I26:96:AP4125:C38C9?>5:9?I26:96:1D
C568368=58:91:D:C9E42>?5:92E14<??FG5:9?354567>5:9? :C91:?968:C2E:C9@4536123473G3631C97G2?9?5@374F
49H945?9?9I2?7975:1@9I3E3I:3G9@9?327AJC9KLM5654F131 I2G@5?97:2:C5:2E:C9?936E2?I971234AVrX
>517269<1368NOPQRSH9?1326TAUAJC9:91:?91<4:1C2>97
:C5:@?2@9?1949I:3262E892:<=9567E344368G5:9?354C51 fAS<==5?52567vANAN?5157C5H9I5??3972<::?35;354:91:126
13863E3I56:3G@2?:56I9AVWX 1567?936E2?I97>3:C@24Fw@?2@F4969E5=?3I:21:<7F:C9
1:?968:C56779E2?G5:326IC5?5I:9?31:3I12E:C9I2G@213:9
Y/Z(0[\][40^^\_3^`4a340[ G5:9?354AJC9F54121:<7397:C99EE9I:2EH5?F3685?952E
?936E2?I9G96:D6<G=9?2E45F9?12E?936E2?I9G96:567
K4<37:?561G311326bR:C51I26H96:326544F=9368:9?G9751 I26E36368@?911<?97<?368:?35;354:91:1ABF<1368E5=?3I151
7?536589E<6I:326AP892:9;:349I56I2449I:567I26H9FE4<37 ?936E2?I368G5:9?354361567D:C9?9315636I?951936x2?f2?
542683:12>6@4561A =2:CAJC9?91<4:12E:?35;3541C95?:91:1C2>97:C5:E5=?3I
?936E2?I9G96: 31 5 H35=49 54:9?65:3H9 :2 G9:5443I
4+95N?3G5?FK<6I:326E2?L5ICJF@92Ec921F6:C9:3I ?936E2?I9G96:AVWUX
S9@ d936E K34: e?53 f26:5 L? 2132 yAy5?5F56S>5GFDS9::F567d5236H91:385:97:C91:?968:C
JF@9 5?5:3 2?I9 9?5: 6589 36G96 f26:?2 6 =9C5H32?45:9?3:3I1234?936E2?I97>3:C1F6:C9:3IE3=9?1AJC9F
26 G96: 326 : 4 2=19?H97:C5:=F<1368E3=9??936E2?I9G96:D54:C2<8C:C9?931
12G9?97<I:32636:C9568492EE?3I:326D:C9?93151<=1:56:354
c92:9;: g g g g 36I?951936:C9H54<92EI2C91326AJC9?97<I:32636xG5F=9
3491 7<9:21G22:C69112EE3=?91AVUrX
c92G9 g JC9FE2<67:C5:BAfAdAH54<915?93G@?2H97=FzztDpp{t
G=?5691 567pUUt2E:C5:2E:C9<6?936E2?I971234>3:CptDUt567Wt
c928?37 g E3=9??91@9I:3H94FD36:C9I5192E15G@491:91:975:uAMAfA
1 JC9:9613491:?968:C>515412E2<67:2=93G@?2H97=F5
c92I2G g g g g g g I261379?5=495G2<6:A
@213:1
M56754567e3H1C3n5?1<8891:97:91:G9:C27E2?79:9?G36368
c92E25 g I?99@@2:96:3542E|<:9892:9;:349Av<:9892:9;:349>9?9<19736
G1 7?F567>9:I2673:3261AS:5:3I4257>515@@4397567I?99@
c92I944 g g @2:96:354>5179:9?G3697AK?2G:C31:91:264F5}<543:5:3H9
1 9H54<5:3262E892:9;:349I56=9G579AJC31:91:311<EE3I396:E2?
c92:<=9 g g <19361949I:368E5=?3IE2?791386@<?@21936361:5445:3261
1 >C9?9E5=?3II?99@I2<47C5H979:9?G3656:549EE9I:1262H9?544
@?2|9I:363:354567:3G979@967@9?E2?G56I9A
h/3ij320k34(l3&(l](40^\^2( JC9F?9I2GG96797:C5:264FE5=?3I1>3:C6342?42>I?99@
230\^2[3m^0l5 @2:96:3541C2<47=9<19736@?2|9I:1>C9?9E5=?3II?99@I2<47
=979:9?G96:54:2@?2|9I:@9?E2?G56I9511<G368:C5:1<IC
JC93G@?2H9G96:36:C9@?2@9?:3912E1234<1368892:9;:349131 E5=?3I15:31EF5442:C9??9}<3?9G96:1AJC9?936E2?I971234>51
579H942@368E3947AM56F@92@49C5H9>2?n975675?91:344 E2<67:25=12?=G2?9969?8FAVp~X
>2?n36836:C31E3947Ae9:9?G365:3262E3G@?2H9G96:36
1:?968:C2E1234?936E2?I97=F892:9;:3492??5672GE3=9?C51 S368C567S45H21C635opqTTsI5??3972<:569;@9?3G96:54
=996<679?:5n96=FG56F36H91:385:2?1A 1:<7F:29H54<5:9:C99EE9I:3H969112E<136851F6:C9:3I
892:9;:349113684F3645F9?15673651F1:9G54:9?65:368>3:C
K?93:58opqTrsI267<I:9751:<7F:2I2G@5?9:C9<6I26E3697 56IC2?1I54497:C9I2G=36971F1:9GoS368C567K3645FpqTrs
I2G@?9113261:?968:C2E@4536567?936E2?I971@9I3G961 E2?1234?936E2?I9G96:E2?<19369G=56nG96:13:<5:326API254
I2G@5I:972H9?5>379?56892E>5:9?I26:96:AJC91234>51 G36368>51:91234DE369?:C56U~GG139>51<1975:C9E344
G3;97>3:C>5:9?567:C96:C97913?975G2<6:2EE3=9?>51 G5:9?354AJC9967?91<4:12E:C9:91:1@?9196:971C2>97:C5:5
57797567G3;9736:2:C91234AJC9E3=9?I26:96:>51pt=F 892:9;:349I56=9<197G2?99EE9I:3H94FE2?1234?936E2?I9G96:
H24<G9Ae<@43I5:91@9I3G961>9?9@?9@5?97567:91:97E2? 365I2G=3697?5:C9?:C5636519@5?5:91F1:9GAVUTX
95IC2E:C9:91:I2673:3261AJC9<6I26E3?G97I2G@?911326:91:1
>9?9@9?E2?G973GG9735:94F5E:9?I2G@5I:326AR:>51E2<67 v542:5DSC?3H51:5H5567J?3@5:C3opqTTsG57951:<7F2E
E?2G:C9:91:?91<4:1:C5::C91:?968:C2E?936E2?I971234 1:?968:C79E2?G5:326IC5?5I:9?31:3I12E892:9;:349?936E2?I97
I2G@5I:97695?567>9:2EuAMAfA>518?95:9?:C56E2?@4536 I45F9F1234=FH5?F3681392E15G@49D6<G=9?2E?936E2?I368
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
0123450789
78
71
7
299
737799
77497
905!05"#$
1234546789:56;<=>2=45<4=:?@A7:A?<A4B7:CD54==<:A64=62AB S4:64E6<14=254=3A6;46<7D45C42H14=;446=J;<7;72AH4@=4B
@AB52<A4B65<2E<2164=626F25<:@=7:A?<A<AGD54==@54=;2F4 <AF25<:@=g<F<1hAG<A445<AGD5:i476=?:56;4D@5D:=4:?
H44A7:AB@764B8I6J2=:H=45F4B?5:C6;454=@16=:? B52<A2G42AB?<16526<:A8L;43254;<G;13D45C42H142AB72AH4
@A7:A?<A4B7:CD54==<:A64=66;266;44??476:?54<A?:574C4A6 4??476<F413@=4B2=B52<A2G412345=J;4AD1274B<A=:<1=:?1:J
:A=654===652<A54126<:A=;<D<=C:54D5:C<A4A6J;4A6;544 D45C42H<1<638L;43G26;45J2645?5:C6;4=@55:@AB<AG=:<12AB
12345=:??2H5<7254<A65:B@74B264K@21=D27<AG8L;4B4G544:? 7:AF43<66:J25B=:@6=<B46;4=65@76@548L;4321=:D54F4A66;4
<CD5:F4C4A6B@46:D54=4A74:?54<A?:574C4A6<=C:5426 H@<16@D:?4E74==D:54J2645D54==@54<A6;4=:<18L;4321=:
;<G;45=652<A52642AB<A125G4B<2C4645=2CD148L;4F21@4:? D45?:5C6;4?@A76<:A:??<16526<:A8jA<?:5C13G52B4B?<1645=
7:;4=<:A2ABM<A65<2E<2164=6<A7542=4=J<6;6;4A@CH45:? 7:CH<A4BJ<6;G4:64E6<14=254A:JJ<B413@=4BB@46:6;4<5
54<A?:574C4A612345=8NOP 42=4:?;2AB1<AG2AB7:A=65@76<:A>47:A:C32ABH46645
D45?:5C2A748L;4D5<C253?@A76<:A:??<1645=<=6:D54F4A66;4
Q2:>R27;;2J26;2ABS@D62TUOVWX7255<4B:@66;544=45<4=:? C<G526<:A:?=:<1?<A4=2AB266;4=2C46<C46:211:J?544?1:J
=652<A7:A65:114B65<2E<21=;42564=6:A?<A4G52<A4B@A<?:5C :?=44D<AGJ2645J<6;:@6H@<1B<AG@D:?4E74==<F4;3B52@1<7
=2AB>@=<AG6J:F25<46<4=:?G4:64E6<14?:5F45<?3<AG6;4 D54==@548NbP
F21<B<63:?C:B41B4F41:D4BH3Y:@=4C2AATUOWZX?:5
C46211<754<A?:574C4A68L;454=@16=:?6;<=64=6=<AB<72646;4 Q2C2=J2C<>e4A26;<D26;32ABe26;<2F4A6TUOVOX7:AB@764B
2DD1<72H<1<63:?Y:@=4C2AA[=C:B41J<6;2B<??454A746;26A: 12H:526:53=6@B<4=:A6;4@=4:?G4:64E6<14=2=?<1645=8L;43
G4:64E6<145@D6@54:77@554B4F4A26;<G;7:A?<A<AGD54==@548I6 7:CD254B6;4D45?:5C2A74=:?G52B4B?<1645=2AB@A<?:5C
J2=21=:A:64B6;266;4<A?1@4A74:?G4:64E6<142DD425=6: ?<1645=D5:64764BJ<6;G4:64E6<14=8I6J2=:H=45F4B6;266;4
B47542=4J<6;2A<A7542=4=<A7:A?<A<AGD54==@548N\]P D45?:5C2A74:?G4:64E6<14?<1645=3=64CJ2=?:@AB6:H4H46645
6;2A6;26:?G52B4B?<1645=2ABH:6;J:F4A2ABA:A_J:F4A
Q2G;F4AB522ABR5<=;A2=J2C<TUOO]X7:AB@764B@AB52<A4B G4:64E6<14=72AH42BF2A62G4:@=13@=4B<A?<1645@=<AG
65<2E<2164=6:A^2:1<A4=2CD14=54<A?:574BH3G4:64E6<148IA G4:G5<B=8N\\P
:5B456:=6@B3=654AG6;_B4?:5C26<:AH4;2F<:5:?7:;4=<F4
=:<1>6;4=2CD14=J454D54D254B266J:B<??454A6C:<=6@54 e2E4A22ABe25^25TUOVVX7255<4B:@62=6@B3:A=1:D445:=<:A
7:A64A6>:A4:AB53=<B4:?:D6<C@C2AB:6;45:AJ4=<B4:? D5:6476<:A@=<AG4E65@B4BD:13C45G4:G5<B=8IA6;4<5=6@B3>
:D6<C@C8I6J2=A:64B6;26;<G;45=652<A526454=@16=<A;<G;45 6;43<A71@B4B=:<145:=<:A7:A65:1C42=@54=2G2<A=6=@5?274
=654AG6;D256<7@12513<A=26@5264B=2CD148Y:J4F45C2E<C@C 5@A:??>D5<C25<132=J2645=;4BB@46:52<A?2112AB?1::B<AG:?
<CD5:F4C4A6<A=654AG6;526<:T=654AG6;:?54<A?:574B=2CD14 A26@5212ABC2AC2B4=1:D4=1<^44CH2A^C4A6=>B2C=4678
=654AG6;:?D12<A=:<1=2CD14X<=<AB4D4AB4A6:?=652<A52648NUVP k;4A=:<1<=54<A?:574BH3G4:G5<B=>G4:G5<BD5:F<B4=5::6
2A7;:52AB2;<G;64A=<14A46?14E<H14=65@76@54<=?:5C4B
`:A21B2ABL2121a1_Q4?421TUOVbX=6@B<4B6;4H4;2F<:5:? J;<7;2B:D6=6:G5:@AB7:A6:@51<^22=^<A2AB=6:D=1:721=1<D
?2H5<7F45=@=?<1645_54<A?:574B=2AB8L;437:AB@764B65<2E<21 ?2<1@54=2G2<A=61:721D2==<F4C:F4C4A6:?=:<18e<A74G4:G5<B=
7:CD54==<:A6:7:CD2546;4=654==_=652<A54=D:A=4:?=2AB B:Al6H<:_B4G52B4><6=1:AG1<?42==@54=?<62AB?:5G46
54<A?:574BJ<6;7:A6<A@:@=:5<4A64B?2H5<712345=2=:DD:=4B 2DD1<726<:A=8N\bP
6:52AB:C13B<=65<H@64B>B<=75464?<H45=8L;4<A?1@4A74:?
F25<:@=64=6D252C4645==@7;2=2C:@A6:?54<A?:574C4A6> m2641n8o8TUOVVXD54=4A64B?<AB<AG=:?=3=64C26<72113
7:A?<A<AG=654==2AB<A71@=<:AC:B@1@=2AB=@5?274?5<76<:A 7:AB@764B12H:526:53=6@B<4=H3D127<AG:?G4:64E6<1426=:C4
J45421=:<AF4=6<G264B8L4=654=@16==;:J4B6;26H:6;63D4=:? B4D6;<A2F<5G<AJ42^=:<1B4D:=<62ABJ<6;G::BF25<463
54<A?:574C4A6<CD5:F4B=654AG6;><A7542=4B6;42E<21=652<A26 ?5276@521=2AB2H:F46;4G4:64E6<148Y421=:54D:564B54=@16=:?
?2<1@54>2AB<AC:=672=4=54B@74BD:=6_D42^1:==:?=654AG6;8 64=6=7:AB@764BJ<6;:@6G4:64E6<142AB6;<=7:CD25<=:AG<F4=
a6F4531:J=652<A=TcUdX?2H5<7=<A71@=<:A54=@164B<A21:== 6;47:A65<H@6<:A:?G4:64E6<14=H3<6=54<A?:57<AG276<:A8Y4
:?7:CD54==<F4=6<??A4==8L;<=4??476J2=A:6:H=45F4B<A6;4 21=:<AB<7264B6;4:D6<C@CB4D6;:?D1274C4A6:?6;4
72=4:??<H4554<A?:574C4A68L;44E<=64A74:?275<6<721 G4:64E6<14J;<7;72AG<F4H4=6<CD5:F4C4A6<A6;4
7:A?<A<AG=654==J2=7:CC:A6:H:6;=3=64C=892<1@54 D45?:5C2A74:?6;4=3=64C8L;@=>6;4=6@B3G<F4=<A=<G;6:?6;4
4AF41:D=?:554<A?:574B=2ABD25211414B6;4@A54<A?:574B C47;2A<=C54=D:A=<H14?:56;<=C46;:B:?G5:@AB
4AF41:D42H:F46;<==654==8e654AG6;<A7542=4=J2=G4A452113 <CD5:F4C4A68NUZP
D5:D:56<:A216:6;42C:@A6:?54<A?:574B><8486;4A@CH45:?
?2H5<712345=:5J4<G;6?5276<:A:??<H45=@D6:=:C41<C<6<AG
7:A64A68L;4542?645>6;4=654AG6;<A7542=4=2DD5:27;4B:A
/3pq(0&3r0s230tr2u3vw04x
2=3CD6:6<7@DD451<C<689<H45_54<A?:574B=2CD14=?2<14B21:AG y3rz4x340u
2712==<7D12A25=;425D12A4>J;4542=?2H5<754<A?:574B=2AB IAIAB<2>4=D47<2113<A6;4H127^7:66:A=:<154G<:A=>6;4
?2<14BH3H@<1B<AGH46J44A12345=8 =J411<AG:?=@HG52B4=:<1=7:A=6<6@64:A4:?6;47;2114AG<AG
S4:64E6<14=2=9<1645=2AB`52<A=f D5:H14C=?:5?<41B4AG<A445=8IA72=4:?5:2B2ABH@<1B<AG
?:@AB26<:A=:A4ED2A=<F4=:<12542=>6;4D;4A:C4A:A:?
;42F<AG2AB=;5<A^<AG<=2C26645:?7:CC:A:77@554A748L;4
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
"
0123450789
78
71
7
299
737799
77497
905!05"#$
1234456789311:93516;<=;61<>6<?;9>75@36<A83;?1;54BC<51 E3;63;?<F33??3=<5@3>6D566;@><5@3<3=F65n:31<;5H89;@3
56?4:36=3DEA@>95;:1?>=<;911:=F>1D3615<AG565<5>4>6D?56>4 E4>=O=;<<;61;541BiF36<F373;<3I<5431F>@3E336:13D>1
H;51<:93=;6<36<G=;6?563H36<G1<9367<FG=;H893115E545<AG 9356?;9=567H><395>456>1;54P?>E95=1A1<3HG<F3E>15=
79>D><5;6G56D3I89;839<5313<=B 89;839<531;?<F373;<3I<5431<;E3=;615D393D>93<361543
1<9367<FG34;67><5;6G1;54?>E95=?95=<5;6H;E545l3DEA<F3
J:9<AGKF>6D9>>6DLF>72>61<:D53D<F356?4:36=3;? 1A1<3HBMF933<A831;?73;<3I<54316>H34A2;@36G6;6P2;@36
73;<3I<5431;612344567>6D1234456789311:931561;?<=4>A1B >6D633D43?433=3D2393:13DBC<2>1=;6=4:D3D?9;H<F3<31<
J;1<;?<F3<31<1?;9>E;@38:98;132393=;6D:=<3D:1567 931:4<1<F><73;<3I<543H>D3;?8;4A>H5D3>6D8;4AH391>93
;D3;H3<39;9=;61<>6<@;4:H3H;:4D1BMF31;54><D5??3936< 8>9<5=:4>94A1:5<3D?;9:13>19356?;9=567343H36<1511;?<1;541B
4>A3912>13HE3DD3D25<F73;<3I<543?>E95=1>6D<F312344567 c<:DA>41;56=4:D3D<F><>1567434>A399356?;9=3H36<89;8394A
=F>9>=<3951<5=1;?<F3=;H8;15<31A1<3H23931<:D53DBN9;H<F3 84>=3D<;56<39=38<<F3?>54:9384>63=;:4DE3?;9H;93
<31<=;6D:=<3D;?E4>=O=;<<;61;54G5<2>1=;6=4:D3D<F><<F393 3??3=<5@3<F>6<2;;9<F9331:=F?>E95=4>A39156<9;D:=3D
516;<H:=F@>95><5;656<F3>H;:6<;?1234456756=>13;?1;54 9>6D;H><;<F3943@341BTkV
>6D1;54P73;<3I<5431A1<3H2F3673;<3I<54314>A391>936;<
89;@5D3D25<F@39<5=>4D9>56>738><F156=3<F393516;
89;@515;6?;9?9332><39<;D9>56;:<B
"/o0p230qo2r3s340432(r40o
h356?;9=3D3>9<F1<9:=<:931>937>565678;8:4>95<A>6D56
MF3A?;:6D<F><123445675193D:=3DEAQR<;SR839=36<2F36 93=36<8>1<F>@39384>=3D1;H3;?<F3=;6@36<5;6>43>9<F
<F3D9>56>738><F5189;@5D3DBC<2>1>41;?;:6D<F><6;6P 1<9:=<:93B
2;@3673;<3I<5431>93H;933??3=<5@3=;H8>93D<;2;@36>6D
633D43?433=3D?>E95=1BTUUV C69356?;9=3D1;541A1<3HG<F34><39>4?4;2;?1;54:6D39
;@39E:9D3689311:93511:8893113DEA1;54P9356?;9=3H36<
W><>9>X>6GJ:9<FA>6DLF>72>6YUZ[\]=;6D:=<3D<F3 ?95=<5;6>456<39>=<5;62F5=F51=>:13DEA934><5@3H;@3H36<B
4>E;9><;9A<31<1;6<F3=;<<;61;54^73;<3I<5431A1<3H MF31;54P9356?;9=3H36<?95=<5;6>456<39>=<5;651D:3<;E;<F
56<9;D:=567<F373;<3I<5431>H8431><D5??3936<18>=56756<F3 E;6D567>6DE3>9567B
<95>I5>4=;H893115;6>6D56<F3:6=;6?563D<31<<;56@31<57><3
<F38;115E433??3=<;??>E95=9356?;9=3H36<;6<F31<93111<9>56 M2;<A831;?934><5@3H;@3H36<=>6E3D51<567:51F3D2F5=F
E3F>@5;9;?<F3E4>=O=;<<;61;54BTU_V >939318;615E43?;9<F31;54P9356?;9=3H36<56<39>=<5;6>93
8:44;:<;?9356?;9=3H36<?9;H1<><5;6>9A1;54H>11>6D?4;2;?
`9BaBbBcF9;??=>9953D;:<<F31<:DA;6d3;<3I<5439356?;9=3D 1;54H>11;@391<><5;6>9A9356?;9=3H36<B
9;>D;6eI8>615@3=4>A56d:X>9><><=;HH>6D>93>;?fO>5P
g>O9>8>9561;:<Fd:X>9><BC<2>1<>O36:8X;56<4AEAdehCG J:9<FAG c95DF>9>6G L56D:H>DF>@> >6D t39O>4
KhhCGJcfGJehC>6Di;94DL>6OBCH8;9<3D2;@366;6P YUZ[[]=;6D:=<3D8:44;:<<31<56<F3183=5>44AD315763D8:44;:<
2;@36>6D633D43?433=3D73;<3I<54312393:13DBN;9H><5;6 E;IBMF3<31<2>1D;63EA@>9A56718>=567>6D6:HE39;?
25D<F;?9;>D2>1URH>6D25D<F;?d3;<3I<5439;442>1_Bj 4><39>4343H36<1;?<F3795D>6DD5>H3<39;?<F34><39>4343H36<B
HG>6D<F393?;93G5<2>14>5D56<F9338>113125<F>6;@394>8;? C<2>1?;:6D<F><<F36:HE39;?<9>61@3913343H36<1>6D<F359
kj=HBUR=H4>A39;?1>6D;@39d3;<3I<5432>14>5D<;>=<>1 18>=5671:E1<>6<5>44A56?4:36=3D<F38:44;:<931:4<1;?<F3
=:1F5;62F543=;H8>=<567<F31:EPE>13E3?;934>A567F>6D 9356?;9=3H36<BMF3A1:7731<3D>H3<F;D<;;@39=;H3<F3
E9;O36H3<>4;?SQHHP_RHH15l3>6D=;H8>=<3DEA_<;6 E;:6D>9A3??3=<2F5=F>??3=<3D<F38:44;:<931:4<1BTUkV
9;4439BK;H8>=<5;62>18;115E43>?<391>6DE34;2>77937><351
H>D323<Ba?<39k6D4>A39;?>77937><3[<;69;44392>1:13D h>;Gg><3>6Dg><<5YUZZR]D3@34;83D>8:44;:<<31<>88>9><:1
>6D?56>44A?5651F3D1:9?>=3;?kRHH13H5D3613=>983<;? <;H3>1:938:44;:<93151<>6=3;?73;795D156<F31;541A1<3HB
iLJBa1?>9>1D51<931151=;6=3963D<F3839?;9H>6=3;?6;6P MF3<31<2>1=;6D:=<3D;6WeMuvWKeUQU7;3795D156
2;@362>1E3<<39BTk\V 56<39>=<5;625<FJ:E9>c>6DBC<2>1?;:6D<F><<F3931:4<567
E3F>@5;9D3836D1;6<F33HE3DH36<4367<FBTUZV
`>57>@>63mBLBG`>2>6D3dBJBGd:4F>63cBiBGKF>:DF>95
WB`B=>9953D;:<>1<:DA<;56@31<57><3<3=F65n:3?;9 h>;>6Dm>6D3AYUZ[[]=;6D:=<3D8:44;:<<31<>6DD593=<1F3>9
5H89;@567<F3D37933;?=;61;45D><5;6>6DD9>56>73=;6D5<5;6 <31<?;9<F33@>4:><5;6;?1;5473;<3I<543?95=<5;6BMF3A84>=3D>
:1567=A456D95=>4893?>E95=><3D@39<5=>473;?;>HD9>56156 1<958;?73;<3I<543E3<2336<F3<2;F>@567;?D593=<1F3>9E;I
E4>=O=;<<;61;5425=FD51158><3<F33I=3118;932><3989311:93B ?5443D25<F1;54>6D2>18:443D;:<BMF3?;9=393n:593D<;
K;61<>6<@;4:H3H3<F;D12393>88453D:15671n:>93?;;<567 8:44;:<<F373;<3I<5432>1<F>6;E<>563DBm:44;:<93151<>6=3><
>6D4;>DP13<<34H36<934><5;61F582>184;<<3DBMF3931:4< D5??3936<6;9H>41<9311312>1;E<>563D>6DE;<F>6DE;6D
1F;23D>15765?5=>6<5H89;@3H36<56<F313<<343H3H36<9><3 1<9311@391:16;9H>41<9311934><5;61F582>1D3@34;83DBC<2>1
>6D:4<5H><34A<F3D37933;?=;61;45D><5;6EA:1567 ?;:6D<F><<F3@>4:3;??95=<5;6D3=93>13125<F56=93>13156
893?>E95=><3D@39<5=>473;?;>HD9>561>1=;H8>93D<;25<F;:< 6;9H>41<9311>6D4367<F;?3HE3DH36<2F5=F2>156
:1567893?>E95=><3D@39<5=>473;?;>HD9>561BMF512>1?;:6D<;
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
$
0123450789
78
71
7
299
737799
77497
905!05"#$
123445467897:7:4;7<=94;>?6=<>74=@ABCD95;47E1DFGHHI
16=BJ1>?747E1DFGHKIELMFN
/(OOP0Q(40RRST3RU4V340Q0
SRYW(40R3T03320T
$/(OOP0Q(40RRST3RU4V340Q0 C617745]77?95]3?\4D?1=>133A962>1]1>97A16=;477D45467
2R(W(W2(0PX(UQR42YQ40R >:131>7439;79>; ?` ;16= ;<@231=4; 897: :?39s?671D
3496`?3>45467<6=43`??7962`?<6=179?6:1;@44634]?374=@A
C^965<;<3<16=C^96@?D1=4aJ96q<4716=t44ad9D?\9>16=
Z4?74[79D49;6?8<69\43;1DDA1=?]74=96516A24?74>:69>1D ?7:43;Eu?84\43a7:4234174;7=9;1=\167124897::?39s?671D
462964439628?^;E_:4A:1\4@4464[746;9\4DA<;4=`?37:4 3496`?3>454679;7:1797>166?7@4<;4=9696;97<>?6=979?6E
>?6;73<>79?6?`3?1=;EZ4?74[79D4]D1>4=@4784467:4122342174
D1A4316=7:4;<@231=4]43`?35;;4\431D`<6>79?6;D9^4 n435116=f:13BFGKmI>?6=<>74=5?=4D74;7?6;739]`??7962
;4]13179?6a`9D73179?6a=319612416=3496`?3>45467E ?`Fee5589=7:]D1>4=?6;16=@4=3496`?3>4=@A]<;:962
93?63?=;\4379>1DDAEh7:1;@446`?<6=7:17`?329\46;]1>962?`
b12131c<16=d:19;^13BFGGeI>?6=<>74=D1@?317?3AfEJEgE 3496`?3>454677:4@413962>1]1>97A?``??79629;;`<6>79?6?`
74;716=`94D=]D174D?1=74;7?63496`?3>4=16=<63496`?3>4= =915474316=3?<2:64;;?`3496`?3>454678:4341;`?3129\46
;?9D`?37:4=4;926?`]1\4=3?1=;`?3fEJEgE74;7a@467?6974 7A]4?`3496`?3>45467a7:4@413962>1]1>97A96>341;4;897:
>45467;D<33A9;<;4=1;;<@231=416=122342174@478446G 96>341;496=46;97A?`3496`?3>45467ELiiN
557?FM558434<;4=1;3496`?3>9625174391DEh781;
34>?5546=4=7:177:4;A;745?`;?9D`9DD4=24?74[79D47<@4 v95@D?^916=CD46?89>sBFGKKI;7<=94=7:496`D<46>4?`
@4D?824?74[79D4D1A438?<D=@45?344``9>94679634=<>962 24?74[79D4?6@413962>1]w1>97A?`78?D1A43;<@;?9D>?6;9;7962
;<@231=4;734;;4;>?5]134=7?>?6\4679?61D122342174D1A43?3 ?`D1A43?`;16=?67:4;<3`1>4?`;79̀`>D1AEC;4394;?`]D196
122342174;?624?74[79D4?`>?5]131@D47:9>^64;;ELFiN ;73196`??79625?=4D;?`re>589=7:16=Mmr>5D4627::1\4
@446D?1=4=@A;>348c1>^E_:47:9>^64;;?`;16=81;\1394=
j477A16=g1?BFGKHI>?6=<>74=fEJEgE16=?7:4374;7?6 7?<6=43;716=9627:44``4>7?``1@39>81;;9269̀9>16717D1324
3496`?3>4=D17431D;?9D96?3=437?;7<=A7:495]3?\4546796fE =9;]D1>45467?`7:4`??7962@<79781;6413DA642D929@D417
JEgE\1D<4a;:413;734627:\1D<416=746;9D4;734627:7? ;51DD=4`?35179?6?``<DD;A;745E_:4;481;17739@<74=7?1
4;7951747:495]3?\45467963?1=]1\45467=4;926Eh781; ]3?@1@D4341;?6?`D?8969791D;79̀`64;;?`24?74[79D4E
6?79>4=7:1796>?3]?3179?6?``9@43;95]3?\4;fEJEgE\1D<4@A t1@?317?3AD?1=74;781;>?6=<>74=@AD?1=962;739]`??7962
FGEiFk897:1==979?6?`ik`9@43@A8492:7El:4341;746;9D4 FxEr>589=48:9>:81;]D1>4=?67:4;<3`1>4?`;16=@4=;E
;734627:?`;?9D95]3?\4;@A5?347:16FeekEh781;1D;? _:4162D4?`;:41396234;9;716>4?`;16=9;xxEreEl:46
`?<6=7:17>?:4;9?6?`7:4;?9D95]3?\4=@Am7954;8:434; =4]?;974=17134D179\4=46;97A?`meErkE_:4162D4?`
162D4?`9674361D`39>79?6?`3496`?3>4=;?9D=3?];ELMmN 96743`1>4;`39>79?6@478446;16=16=24?74[79D49;D4;;7:16FEi
7954;7:489=7:?``??7962a7:424?74[79D48?<D=1>71;3929=
j9\1]3121;15fEan1697:1jEaC3<6nEdE16=j<7:13;1615 @?<6=13A16=7:4]43`?3516>4?`;16=@4=8?<D=@4
jEBMeFeI>13394=?<77:4;7<=A?6;A67:479>24?74[79D4`?33?1= =47439?3174=ELxN
]1\45467;E_:4]3?c4>781;=4\4D?]4=`?3n93<=:<61213
=9;739>78:9>:81;13?<6=Me^5;96D4627:E_:4;<@231=481; y<3^1A1;7:116=J:1<59^BFGKKI=4\4D?]4=164[]43954671D
7?@4;71@D4a<6A94D=962a]3?]43DA=319616=`344`3?5\?D<54 4<179?6`?3JEfE?``?<6=179?6?63496`?3>4=>D1A4A;D97E
>:1624;=<47?\139179?6965?9;7<34Eo7:4389;4978?<D=D41= d?=4D`??7962;?`;9s4Fe>5[Fe>516=Fe>5[FMEr>5
7?]1\45467`19D<34Eb?351DDA]1\45467`19D;=<47?7:4 8434<;4=967:496\4;792179?6897:24?74[79D4D1A4317=9̀`43467
341;?6;;<>:1;;73<>7<31Da`<6>79?61D?35174391D`19D<34a?3 =4]7:;Eh781;?@;43\4=95]3?\4546796@413962>1]1>97A@A
>?5@96179?6?`7:9;EJ<7967:4;7<=A13419781;?@;43\4=7:17 <;4?`24?74[79D43496`?3>454679;5?347:167:17?`96>1;4?`
7:4]1\45467`19D<3481;<6=437:4>1742?3A?`;73<>7<31D 24?239=;E_:4?]795<5=4]7:`?351[95<595]3?\4546796
`19D<34E_??\43>?547:9;a9781;644=4=7?95]3?\47:4 @413962>1]1>97A96>1;4?`24?74[79D416=24?239=9;eEir7954;
;<@231=4;?9D@413962>1]1>97AEh67:9;]3?c4>7a;A67:479>6?6 7:489=7:?``??7962EC77:9;?]795<5=4]7:a7:495]3?\45467
8?\4624?74[79D4;8434]D1>4=17=9̀`43467=4]7:?`;?9D16= 96@413962>1]1>97A9;xmk96>1;4?`24?239=;16=mik96>1;4
7:495]3?\4546796;?9D@413962>1]1>97A81;>:4>^4=@AfJg ?`24?74[79D43496`?3>45467E
16=pff74;7Eh781;?@;43\4=7:17fJg\1D<4`?37:41>7<1D
;?9D;15]D481;\43AD4;;8:9>:34q<934=6413DAHr>57:9>^ C6?71@D48?3^?6166<D13`??796274;7962?624?74[79D4
]1\45467EJ<78:4624?74[79D4;84349673?=<>4;17\139?<; 3496`?3>4=;16=:1;@446=?64@Au13??6aj:1:16=y16=4A
=4]7:;?`;?9D;15]D4a7:4fJg\1D<381;96>341;4= BFGGeIEd?=4D`??7962?`Fee55?<743=915474316=:1\962
>?6;9=431@DAEpff74;71D;?21\4@47743;734;;\1D<4;?6 166<D1397A3179??`eEiraeEr16=eEH8434<;4=EC8?\46
1]]DA96224?74[79D4;ELMGN 24?74[79D4:1;@446<;4=1;13496`?3>9625174391DEh781;
?@;43\4=7:1796>341;496@413962>1]1>97A=<47?
3496`?3>454679;1@?<7FrekELFHN
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
0123450789
78
71
7
299
737799
77497
905!05"#$
1234567889:;<54=5>?5@?3A53BC3A5D>B<?E;D?3>BF<FB
FA?5EBF?3G5?><?55AA3B5E?>5B<;E53B?5=E3?H>IC3A5<H<?5JKL>
23m323d3
>?25E4F?5E5=FE43B=3JCE>G5J5B?>IA>F4M5FE3B=DFCFD3?H N7OKn 12345PK1K67889:VoaBFAH<3<FB4p@C5E35BD54>I;<3B=
FB4<5??A5J5B?>IC3A52F<M55BCE5<5B?54MH?25F;?2>EKN7O =5>?5@?3A53BC3A3B=oVWqrs89VWb<5D?3>BVWWbFE?DA5t7_V
uK778s7__K
PE55QFB?3F267889:E5C>E?54E5<;A?<>I?253BG5<?3=F?3>B>I?25 N_OKnvF3=FGFB5uK1KVvFUFB45qK\KVq;A2FB5PKwKV
<?;4H>IM52FG3>E>I=5>?5@?3A5E53BI>ED54<FB43B3JCE>G3B= r2F;42FE3LKvKxWJCE>G5J5B?>I1KrK<>3A;<3B=
?25M5FE3B=DFCFD3?HFB4E54;D3B=<5??A5J5B?;B45E<R;FE5 =5>I>FJCE5IFME3DF?54G5E?3DFA4EF3BooWB43FB
I>>?3B=<3S5T9DJ@T9DJKL;JM5E>IA>F4?5<?<U5E5 q5>?5D2B3DFAr>BI5E5BD5s_979VWW^1>JMFHVv5D5JM5E
D>B4;D?54?><?;4H?25CE5<<;E5<5??A5J5B?E5AF?3>B<23CI>E 7Ts7]V_979Ky>A7VuKY78sY_9K
43II5E5B?D>JM3BF?3>B<>ICFEFJ5?5E<A3Q545C?2>II3E<?AFH5E N[OKnvF<LKzKV\FB4FA{KLKV\FB4FA^Kxp@C5E3J5B?FAFB4
>IE53BI>ED5J5B?VG5E?3DFA<CFD3B=>IE53BI>ED3B=AFH5E<V |p\FBFAH<3<>I?25q5>?5@?3A5q5>?;M5oWB43FB
B;JM5E>IAFH5E<FB4<3S5>I=5>?5@?3A5<255?KW?UF<B>?3D54 q5>?5D2B3DFAr>BI5E5BD5s_979VWW^1>JMFHVv5D5JM5E
?2F??25;A?3JF?5M5FE3B=DFCFD3?H>I<FB4D>;A4M53JCE>G54 7Ts7]V_979Ky>A7VuK[[8s[c_K
;C?>?2E55?3J5<FB4?>?FA<5??A5J5B?D>;A4M5E54;D54;C?> NcOKn v5JM3DQ3pKFB4aA5B>U3DS{K\K}~WBIA;5BD5>I
XYZMHCE>G343B==5>?5@?3A5F<E53BI>ED3B=JF?5E3FAKP3S5>I q5>?5@?3A5>B15FE3B=rFCFD3?H>I^U>sAFH5EP;M<>3A~
=5>?5@?3A52F<I>;B4?>M53BIA;5BD3B=<;M<?FB?3FAAH?25M5FE3B= |3E<?WB43FBq5>?5D2B3DFAr>BI5E5BD5>B53BI>ED54
DFCFD3?H>I<FB4KN[9O P>3AFB4q5>?5@?3A5<678]]:VuKasT7?>asTTK
NYOKn v>BFA4FB4^FAFAaAs5I5FA678]Y:Vx152FG3>;E>I
PE342FEFBVP2E3B3GF<FV\;E?2HFB4P3B=2678]]:D>B4;D?54 IFME3DG<KI3ME5E53BI>ED54<>3AoK
J>45A?5<?>B43II5E5B?<3S5<>II>>?3B=FB4>BD3ED;AFEI>>?3B=K NTOKn |E53?F=K678]T:VxP>3AEFB4>JAHE53BI>ED54U3?2
^25<;M=EF45;<5UF<I>EJD>JCFD?54<FB4K^25 I3ME5<oV{>;EBFA>I=5>?5D2B3DFA5B=3B55E3B=VG>AK77_V
E53BI>ED5J5B?UF<CAFD543B?2E55AFH5EK^25<5AFH5E<U5E5 L>K]Va;=s]TVuK]_[s]_TK
CAFD54F?F43<?FBD5>I9K_Y?3J5<?25U34?2>I?25I>>?3B=KW? NXOKn `FE>>B\VP2F2PKPKFB4uFB45HPK}~a<?;4H>B?25
UF<D>BDA;454?2F??25<2FC5>II>;B4F?3>B4>5<B>?FII5D??25 152FG3>;E>IaBB;AFE|>>?3B=<5<?3B=>Bq5>?5@?3A5
M52FG3>E>IE53BI>ED54<FB4U25E5F<?25<3S5>II>>?3B=2F< 53BI>ED54PFB4~VWqrs89VWbP5D?3>BWWbaE?s7VuKTYsT]V
<3J3AFE5II5D?>BE53BI>ED54<FB4F<3BDF<5>I;BE53BI>ED54 67889:K
D>B43?3>BKN[7O N]OKn WB=FEPKPK}~lB45EU2F?D3ED;J<?FBD5<V?25=5>?5@?3A5
DFBE5CAFD5?EF43?3>BFAJ5?2>4<3BC>E?FB4JFE3B5
PFE345P3E55<2DFEE354>;??25<?;4H>I<5??A5J5B?CE543D?3>B D>B<?E;D?3>B~Wqrs89VWbP5D?3>BVWWbp@Cs7VuKY[sYT
=5>D5AAE53BI>ED54DAFHI>;B4F?3>BK`55<?3JF?54?25 67889:K
<5??A5J5B?<>IFI>;B4F?3>BE5<?3B=>B=5>D5AAE53BI>ED54DAFH N8OKn {FA>?FaKyKVP2E3GF<?FGFKzKFB4^E3CF?23678]]:V
M54<;<3B=FE?3I3D3FAB5;EFAB5?U>EQ6aLL<:K`5D>B4;D?54 x<?E5B=?2FB445I>EJF?3>BM52FG3>E>I=5>?5@?3A5
AFM>EF?>EH5@C5E3J5B?<?>45G5A>C?25J>45A>B=5>D5AA E53BI>ED54FAA;G3FADAFHoVWqrs]]VaAF2FMF4Vv5D78]]V
E53BI>ED54DAFHM54<U3?2GFEH3B==5>J5?EH>I=5>D5AA y>AK7VuK_78?>__[K
JF??E5<<K^25FBFAH<3<>I?5<?E5<;A?<2>U?2F??25GFE3FMA5<;D2 N79OKn\FB4FA{KLKVv3G<23QFEvKqK67889:VxP;==5<?54?5<?
F<?25M5FE3B=CE5<<;E5>I?25M54U3?2bU3?2>;?E53BI>ED5J5B?V J5?2>4<I>E45?5EJ3B3B=DE55CC>?5B?3FA>I;?5
45C?2>ICAFD5J5B?>I=5>D5AAJF??E5<<IE>J?25M54<;EIFD5V =5>?5@?3A5oVWqrs89V7b<5D?3>BV77bFE?3DA5s77VuK77X?>
U34?2>I=5>D5AAJF??E5<<V253=2?>I=5>D5AAJF??E5<<VIE3D?3>B uK77]K
EF?3>FB4D>5II3D35B?>IDAFH2FG5F<3=B3I3DFB?3BIA;5BD5>B?25 N77OKn\;E?2HaKyKVPKKVv55Cr2FB4EFVFB4{F312F=FUFB
I>>?3B=<5??A5J5B?Ka2;=54F?FMF<5DE5F?54IE>J?25 67889:VxWBIA;5BD5>Iq5>?5@?3A5<>B<U5AA3B=<b<U5AA3B=
5@C5E3J5B?FA<?;4HUF<43G34543B?>?2E55<5?<?>?EF3BV?5<?FB4 CE5<<;E53B<>I?DAFH<oVWqrs89VWs<5D?3>BVWWsFE?s79V
GFA34F?5?25aLLJ>45AK^25FBFAH<3<>IE5<;A?D>BDA;454?2F? CK798s77Y
?25aLLJ>45A2F<G5EHU5AACE543D?54?25M52FG3>E>I N7_OKn\;E?2;1KKVP2E342FEFBaKV13B4;JF42FGFFB4
=5>D5AAE53BI>ED54I>;B4F?3>BM54<KN_cO `5EFQFAKLK678]]:VxP>3A=E34E53BI>ED5J5B?
3B?5EFD?3>BoVWqrs]]VaAAF2FMF4Vv5D5JM5E]]VG>AK7V
dedfgh0i23j(2k uK__Ys__8K
N7[OKnLF=FEF;PKPKFB4\2F3<QFEPKK67889:Vo
l<5>I=5>?5@?3A5<2FG5M55BI>;B4G5EH5II5D?3G5<>A;?3>B3B p@C5E3J5B?<>B;<5>I=5>?5@?3A5<FB4=5>D>JC><3?<3B
GFE3>;<=5>?5D2B3DFACE>MA5JA3Q5I>;B4F?3>B>B<>I?<>3A<V CFG54E>F4<oVWqrs89VWb<5D?3>BVWWbFE?3DA5TVuK]8s8_K
AFB4<A345D>B?E>AVCFG5J5B?<;M=EF45<?FM3A3SF?3>B3BE>F4 N7cOKnLF?EFFB^KzKV\;E?2HaKyKPKKFB4{F312F=UFB
FB4EF3AUFHD>B<?E;D?3>BVE53BI>ED545JMFBQJ5B?<>G5E<>I? 678]X:V~q5>?5@?3A553BI>ED5J5B?3BP>3A<~VWqrs]XV
<>3A<V5E><3>BD>B?E>A5?DK 1FB=A>E5Vv5DK]XVy>AK7VuK[[Y?>uK[[]K
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
##
0123450789
78
71
7
299
737799
77497
905!05"#$
1234567898:;5<5=>?@A8BC89D5;5=;?E9F8GBC89<5H5= 1e\456;EO8t98F8K8a>5=`8BER?8;5=L9GB`5H58BA
IJ9B8BAJKH5=7898:L5M5=LNA@BC89;5;5=;8O@EC8975 ;GR?89K8B8a;5P;RGAj@BKjBR?JRETFJ@RJiRENJKS@99@8A
75PQJ@RG:JKS@9MJ8T?U9@KE@B>@BR9@NEBQ@8V t8OJaJBRKVWBAE8BQJ@RJT?BET8N>@BSJ9JBTJ_eY2Y=WWq
WBRJ9B8RE@B8NX@G9B8N@SU89R?;TEJBTJK8BAUBFEBJJ9EBF M@a:8j=DJTJa:J92b_2l=eY2Y5`@N2=75e33_e3l5
2Y2Z=W;;[Y\]^_3\Y^=`@NGaJY^=[@Yb;7c= 1ZY456;9JJC8BRE8?o5<5k2\\Ym=Pc@8AJAS@@REBF@B
dTR@:J9eY22=752Y2Z_2Y2b5 FJ@RJiRENJ9JEBS@9TJAK8BA:JAV=WQ>_\Y=WsKJTRE@B=
12b45678RJN[5H5fg<JEBS@9TEBFhER?LQJ@RJiRENJc8jJ9LBA WWs89RETNJ_Z=75]Z_]]5
>@OJ9EBF78Ag=IE9KRWBAE8BQJ@RJT?BET8N>@BSJ98BTJ 1Z2456;9EA?898BL5=;?9EBEO8K8HG9Rj8BA;EBF?o8BK<8z
@B<JEBS@9TJA;@EN8BAQJ@RJiRENJKk2\llm=75M_ZR@75 k2\llm=g;?8tJ8BA;EuJUSSJTR@SI@GBA8RE@BKdBq?J
M_]=k2\llm5 :J89EBF>8t8TERj@S<JEBS@9TJA;@ENMJAKg=WQ>_ll=
12]4567G9C8j8KR?88BAM?8GaECk2\llm=P7J9S@9a8BTJ@S LNN8?8:8A=DJT5ll=`@N_2=75eY3_e2Y5
FJ@F9EA8BAFJ@RJiRENJ:JN@hS@GBA8RE@B@BK@SRK@ENV= 1Ze456;G::898@>58BA798K8AX5k2\l]m=Vq9E8iE8NRJKR@BK8BA
WQ>_2\ll=LNN8?8:8A=DJT_ll=`@N5W=752\\neY^5 9JEBS@9TJAhER?t@Njt9@tjNJBJS8:9ETV=WQ>_l]=
12l456<8F?OJBA98o5M58BAp9EK?B8Kh8aj[5<5fgq9E8iE8N M8BFN@9J=DJT52\l]=O@N52=75Z2\_Zee5
MJ?8OE@9@S;@EN<JEBS@9TJArER?QJ@RJiRENJg=WQ>_\Y= 1ZZ456`J9a8=M5758BA>?89=L5[5<5MJ89EBFT8t8TERjRJKRK@B
Ws;JTRE@B=WWsL9R_l=75\\R@752YZ5=k2\\Ym 9JEBS@9TJAK8BAKG:F98AJK5X5QJ@RJT?5UBF5DEO5=L{U
12\456<8@Q5`5=p8RJX5H58BAp8RREL5<5k2\\Ym=WBRJ9S8TJ 2\lb=22e=75]Y2_]Yb
S9ETRE@B:J?8OE@9@SFJ@F9EAK:jtGNN@GRRJKRV=WQ>_\Y=W
sKJTRE@B=WWs89RETNJ_\=752Y3_2Yl5
1eY456<8@Q5`5=QGtR8p5p58BAp8T??8h8?<5k2\l]m=P
q9E8iE8N:J?8OE@9@SFJ@RJiRENJ9JEBS@9TJAK8BAV=WQ>n
l]=M8BFN@9J=DJT_2\l]=O@N52=75ZeZ_Zel5
1e2456<8@8BA78BAJjk2\llm=VUO8NG8RE@BFJ@RJiRENJK@EN
S9ETRE@BV=WBAE8BQJ@RJT?BET8NX@G9B8N2lk2m=2\ll=75
]]_2YZ5
1ee456<8a8Kh8aj;5̀5=;JB8R?Et8R?jp58BA;8R?E8OJBE
k2\\Ym=Pc8:@98R@9jKRGAEJK@BR?JGKJ@SFJ@RJiRENJK8K
SENRJ9KV=WQ>_\Y=2_KJTRE@B=WWsL9Re=75b\R@]e5
1eZ456<@hJ<5p58BA;@AJ9a8Bp5c5k2\l]m=g;R8:ENEu8RE@B
@S`J9j;@SR;@ENKvKEBFoEF?;R9JBFR?QJ@KjBR?JRETKw
q?J<@NJ@SQEBERJUNJaJBRLB8NjKEKg=QJ@RJiRENJK8BA
QJ@aJa:98BJKk2\l]m=753ZR@75lY5
1e^456;89EAJ;=P;JRRNJaJBRt9JAETRE@B@SFJ@TJNN9JEBS@9TJA
TN8jS@GBA8RE@BKVWBAE8BQJ@RJT?BET8N>@BSJ9JBTJ_
eY2Y=WWqM@a:8j=DJTJa:J92b_2l=eY2Y5`@N2=75
l\\_\Ye5
1e3456;8iJB8<5p58BA;89C89;5;k2\llm=P;N@tJJ9@KE@B
t9@RJTRE@BGKEBFJiRJBAJAt@NjaJ9FJ@F9EAKV=IWQ;
k2\llm5
1eb456;JRRjp5<5=[898j8B8Kh8aj8BA<8@;5`5
Q@t8NC9EK?B8k2\l]m=VT?898TRJ9Eu8RE@B@SSE:J9
9JEBS@9TJAN8RJ9ERETK@ENVxWQ>_l]=M8BF8N@9J=DJT5l]=
O@N52=75Ze\_ZZe5
1e]456;?9@SSL5`5=[8RE@B8NcJOJNdBJrJJCvt_F98A8RE@B
79@F98aaJ@BQJ@KjBR?JRETK=LBT?@9WBKRERGRJkqJiRENJ
;JTR@9mDJt89RaJBR@SqJiRENJUBFEBJJ9EBF=I8TGNRj@S
qJT?B@N@FjyUBFEBJJ9EBF=q?JH8?898z8;8j8zE98@
vBEOJ9KERj@SM89@A8=H8j2]_ee=eY2Y5
1el456;EBF? <5M5 8BA ;N8O@K?EB8 k2\llm=g IEJNA
>?898TRJ9EKRETK@S8BWBAE8BQJ@RJiRENJLBAWRK
LttNET8RE@B WB ;@EN <JEBS@9TJaJBRg= WQ>_ll=
LNN8?8:8A=DJT_ll=`@N52=752\3_2\l5
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
&
'95#095#$(#)(*+9,88!5--.../0
98/
#