What Eye Movements Tell About Identifying Compound Words in Reading and Top-Down Effects in Reading Long Texts
What Eye Movements Tell About Identifying Compound Words in Reading and Top-Down Effects in Reading Long Texts
` "#[ij$kY[
!"#$%&' () *'+,-(.(/+ 012 3&-45%(6
T-LL' U3!"#
!V+8'(#.+"# 12 W&3)61*1<3J X"%4+(&%#3 12 =-(L-J 9GSKNYYZ[J R-(L-J 9%"*Q"D "
;<1%04?% R01 *%"A& 1@ (A&AQ(B$ 1" A3A .14A.A"#& %" (AQD%"\ Q(A &-..Q(%/AD: ;"A *%"A 1@ (A&AQ(B$ ACQ.%"A& $10
QD-*# (AQDA(& %DA"#%@3 B1.81-"D 01(D& D-(%"\ (AQD%"\: R$A 1#$A( *%"A 1@ (A&AQ(B$ DAQ*& 0%#$ $10 Q &8AB%@%B (AQD%"\
\1Q* %"@*-A"BA& #$A 0Q3 *1"\ AC81&%#1(3 #AC#& Q(A (AQD: M1#$ *%"A& 1@ (A&AQ(B$ Q(A B1"D-B#AD -&%"\ 9%""%&$ Q& #$A
&1-(BA *Q"\-Q\A: ]%#6 (A&8AB# #1 #6A @%(&# (A&AQ(B6 H-A&#%1"J %# %& DA.1"&#(Q#AD #6Q# B1.81-"D 01(D& Q(A (AB1\"%/AD
A%#6A( 61*%&#%BQ**3 1( 4%Q #6A%( B1.81"A"#&J DA8A"D%"\ 1" #6A *A"\#6 1@ #6A B1.81-"D 01(D: ^AQDA(& EA\%" #1 8(1!
BA&& 06Q#A4A( %"@1(.Q#%1" %& (AQD%*3 Q4Q%*QE*A %" #6A @14AQ* 4%&%1" >%:A:J A%#6A( #6A 061*AK01(D @1(. 1( #6A %"%#%Q*
B1.81"A"#_ : R6A &AB1"D *%"A 1@ (A&AQ(B6 DA.1"&#(Q#A& #6Q# >Z_ Q &8AB%@%B (AQD%"< <1Q* %& BQ8QE*A 1@ ACA(#%"< Q"
AQ(*3 A@@AB# 1" (AQDA(&" A3A @%CQ#%1" 8Q##A("&J >N_ #%.A B1-(&A Q"Q*3&A& EQ&AD 1" A3A .14A.A"# 8Q##A("& BQ" (A4AQ*
%"#A(A&#%"< %"D%4%D-Q* D%@@A(A"BA&J Q"D >`_ 01(L%"< .A.1(3 B585B%#3 %& *%"LAD #1 #6A A@@%B%A"B3 #1 &#(5#A<%B5**3 5**1!
B5#A 5##A"#%1" 5& 0A** 5& #1 A"B1DA %"@1(.5#%1" #1 5"D (A#(%A4A %# @(1. #6A *1"<K#A(. .A.1(3: G# %& B1"B*-DAD #65#
#6A A3AK#(5BL%"< #AB6"%H-A %& 5" ACBA**A"# (A&A5(B6 #11* #1 #58 %"#1 #6A 01(L%"<& 1@ #6A 6-.5" .%"D D-(%"< #6A
B1.8(A6A"&%1" 1@ 0(%##A" #AC#&:
B#( >+0"1 A3A .14A.A"#&J 01(D (AB1<"%#%1"J B1.81-"D 01(D&J #AC# B1.8(A6A"&%1"J 01(L%"< .A.1(3 B585B%#3:
!" #$%& '(#%)*+ , &-..'(%/+ #01 *%"+& 12 +3+ 65& 8(14+7 #1 E+ 5 6%<6*3 45*-5E*+ (+&+5(B6 #11* #1
.14+.+"# (+&+5()6 #65# 0+ 654+ )1"7-)#+7 14+( #58 %"#1 #6+ 1"<1%"< .+"#5* 8(1B+&&+& 5& #6+3 +!
#6+ 85&# &+4+(5* 3+5(& %" 9%"*'"7: ;"+ *%"+ 12 (+! 41*4+ 14+( #%.+ 06+" 8+18*+ (+57 #+C#&:
&+'()6 7+'*& 0%#6 610 )1.8+#+"# '7-*# (+'7+(& %! !"#$%&'(&$) *+,-+.$" /+0"1 2.0&$) 3#4"&$)
7+"#%23 )1.81-"7 01(7& 7-(%"< (+'7%"<: =6+ 1#6+( M3 7+2%"%#%1"J )1.81-"7 01(7& 5(+ 01(7& #65#
*%"+ 12 (+&+'()6 7+'*& 0%#6 610 ' &8+)%2%) (+'7%"< )1"&%&# 12 N 1( .1(+ )1.81"+"#&: I" O"<*%&6 +C!
<1'* >0+ )'** %# #6+ (+'7%"< 8+(&8+)#%4+? %"@*-A"BA& '.8*+ )1-*7 P+ 6+Q7')6+J 06%)6 )1"&%&#& 12 #01
#6A 053 5 *1"< AC81&%#1(3 #AC# %& (A5D 5"D 065# %& )1.81"+"#&J 6+'7 '"7 ')6+: R6+ 01(7 .+'"%"< %&
(+.+.E+(+7 12 #6+ #+C#F: G" E1#6 *%"+& 12 (+&+5(B6 7+(%4+7 P3 8-##%"< #1<+#6+( #6+ .+'"%"<& 12 #6+ #01
0+ 654+ 588*%+7 #6+ +3+ .14+.+"# #+B6"%H-+ E3 )1.81"+"#& #1 3%+*7 &1.+#6%"< *%L+ " 8'%" %" #6+
(+<%&#+(%"< (+5D+(&" +3+ .14+.+"#& 06+" #6+3 (+5D 6+'7 " : 9%""%&6 %& '" '<<*-#%"'#%4+ *'"<-'<+J %"
&%*+"#*3 &%"<*+ &+"#+"B+& 1( *1"<+( #+C#& 21( B1.! 06%)6 01(7 )1.81-"7%"< %& 4+(3 8(17-)#%4+: S14+*
8(+6+"&%1": I& 0%** E+B1.+ +4%7+"#J +3+ K#(5)L%"< )1.81-"7& )'" (+'7%*3 P+ )1"&#(-)#+7 1-# 12 +C%&#!
[ij
_`[ !"#$%&' (!)
"#$ %&'()* +,'-"./0,'01 &2 #&/#)3 4"##")5 .&6+&/#() -5,- -571 ,'7 7M/,-7( 2&' %5&07H%&'( 2'7M/7#.1G 4"!
.,# "#.0/(7 )787',0 .&6+#-)9 ,) "# 0/6"+,00&)&! #,0019 -57 +'7)7#.7 &2 :&-5 .&#)-"-/7#- 2'7M/7#.1
-,* %5".5 67,#) ")#&%:,00 2";5-" ,#( .&#)")-) &2 < ,#( %&'( 2'7M/7#.1 7227.-) )/;;7)-) , (/,0 H'&/-7
.&6+#-)* 0/6" = )#&%> 9 +?00& = :?00> 9 ?#( )&-? 6&(709 "# %5".5 :&-5 ,..7)) '&/-7) ,'7 &+7',-"87G
=2";5-> 3 @00 4"##")5 .&6+&/#() ,'7 .&#.,-7#,-7( "# P# &/' )-/("7) T R WXU %7 5,87 &:)7'87( -5,- -57
-5,- )+,.7) #787' ,++7,' :7-%77# -57 .&6+#-)3 07#;-5 &2 -57 .&6+&/#( %&'( ") , .'/.",0 2,.-&' "#
A5") 27,-/'7 .,# ,0)& :7 2&/#( "# &-57' ,0+5,:7-". (7-7'6"#"#; -57 7K-7#- -& %5".5 , .&6+&/#( %&'(
0,#;/,;7)9 )/.5 ,) B7'6,#9 C/-.59 &' D%7(")53 ") "(7#-"2"7( 5&0")-".,001 &' 8", "-) +,'-) T RU G Y#-"0
E#;0")59 &# -57 &-57' 5,#(9 ") 6&'7 "''7;/0,' "# #&% %7 5,87  )-/("7( -57 +'&.7))"#; &2 RH.&6!
-57 )7#)7 -5,- .&6+&/#() 6,1 ,++7,' "#  &2 < +#- .&6+&/#()9 )& 787'1-5"#; -5,- ") ),"( :70&%
2&'6)F /#)+,.7( =7G;G* )#&%:?00> * )+?.7( =7G;G* -'?2! .&#.7'#) .&6+&/#() &2 -5,- )&'- =6&)- &2 -57 .&6!
2". 0";5-> * &' 51+57#?-7( =7G;G* 717H-'?.I7'> G J5"! +&/#() /)7( "# &/' )-/("7) 5,87 :77# #&/# H#&/#
#7)7 ") ?0)& 5";501 "#-7'7)-"#; "# -57 )7#)7 -5?- "# .&6+&/#()9 )/.5 ,) 57,(,.57> G S57'7 ,'7 )&67
J5"#7)7 6&)- %&'() ?'7 .&6+&/#() "# -5?- -571 &-57' 717 H-',.I"#; )-/("7) &# .&6+&/#( %&'( +'&!
.&#)")- &2 6&'7 -5?#  .5?'?.-7'G 4"##")5 .&6! .7))"#; .&#(/.-7( "# E#;0")5 ,#( "# Z7'6,# T[WQRU G
+&/#() ?'7 )"6"0?' -& J5"#7)7 )F "# #7"-57' 0?#! L/' '7)/0-) (76&#)-',-7 -5,- %57# , .&6+&/#(
;/?;7 )+?.7) ?'7 ?((7( -& )";#?0 %57'7 -57 :&/#(! %&'( 5,) #& 6&'7 -5,# [ 07--7') = ,) "# )"8/&8" \
?'"7) 7K")- :7-%77# -57 .&6+#-)G )"(7 (&&'> 9 -57 %&'( ") +'&.7))7( 5&0")-".,001G S5")
L#7 I71 M/7)-"&# %7 5?87 ?(('7))7( ") N A& :7.&67) ,++,'7#- "# -5,- = Q> ;,]7 (/',-"&# = "G7G9
%5?- 7K-7#- ?'7 .&6+&/#() "(7#-"2"7( 5&0")-".?001 -57 (/',-"&# &2 ,00 2"K,-"&#) 0,#("#; &# -57 %&'(
?#( -& %5?- 7K-7#- 8"? -57"' .&6+#-)ON P# &'! :72&'7 7K"-"#; "- -& -57 '";5- &' 072-> ") '70",:01 "#!
(7' -& ,#)%7' -5") M/7)-"&# %7 5,87 7"-57' =Q> 6,! 20/7#.7( :1 %&'( 2'7M/7#.19 :/- =R> -57 2'7M/7#.1
#"+/0,-7( -57 2'7M/7#.1 &2 -57 %5&07 %&'( %5"07 &2 -57 2"')- .&6+#- (&7) #&- ,227.- ;,]7 (/',!
6,-.5"#; 2&' -57 2'7M/7#.1 &2 -57 .&6+#-) =,#( -"&#G ^&'( 2'7M/7#.1 7K7'-) ,# 7,'01 7227.- &# -57
&-57' '7078,#- 27,-/'7)* )/.5 ,) 07#;-5> * &' =R> 6,! +'&.7))"#;9 ,) "#(7K7( :1 -57 7227.- :7"#; &:)7'87(
#"+/0,-7( -57 2'7M/7#.1 &2 -57 .&6+#-) ,) )7+! ,0'7,(1 "# -57 2"')- 2"K,-"&# (/',-"&#G @00 -5") ")
,',-7 %&'() %5"07 6,-.5"#; 2&' %5&07 H%&'( 2'7! -,I7# -& )/;;7)- -5,- )5&'-7' .&6+&/#() ,'7 "(7#-"!
M/7#.1G S5") ;7#7',0 67-5&( %,) "#-'&(/.7( :1 2"7( ,) )"#;07 %5&07) ,#( -5,- -57 ,..7)) -& -57
S,2- -& )-/(1 -57 '7.&;#"-"&# &2 6&'+5&0&;".,001 .&6+#-) ") #&- ,# "#-7;',0 +,'- &2 -57 +'&.7))G
.&6+07K %&'() TQU G S57 0&;". ") ,) 2&00&%)G P2 %&'( S57 )-&'1 ") M/"-7 ("227'7#- 2&' 0&#;7' .&6!
2'7M/7#.1 ") 2&/#( -& 5,87 ,# "#20/7#.7 &# -57 "! +&/#() = "G7G9 .&6+&/#() -5,- .&#-,"# QR 07--7') &'
(7#-"2".,-"&# +'&.7))* "- ") ,))/67( -5,- -57 5&0")-". 6&'7> G 4&' 0&#; .&6+&/#()9 ,# 7,'01 7227.- &2 2"')-
'&/-7 -& .&6+&/#( %&'( 67,#"#; ;7-) ,.-"8,-7( .&#)-"-/7#- 2'7M/7#.1 ") &:)7'87(G S57 (/',-"&# &2
(/'"#; -57 .&/')7 &2 +'&.7))"#;G V&'7 )+7."2".,0019 2"')- 2"K,-"&# &# 0&#; .&6+&/#() %,) 2&/#( -& :7
-57 5&0")-". '&/-7 ") "6+0".,-7( %57# , 0&% H2'7! 0&#;7' %57# -57 2"')- .&#)-"-/7#- %,) "#2'7M/7#-
M/7#.1 .&6+&/#( %&'( -,I7) 0&#;7' -& +'&.7)) -5,# %57# "- %,) 2'7M/7#-G P- 6,1 :7 #&-7( -5,-
-5,# , 5";5 H2'7M/7#.1 .&6+&/#( %&'(9 ;"87# -5,- -57 2"')- 2"K,-"&# -1+".,001 ,0)& 0,#(7( &# -57 2"')-
-57 -%& -1+7) &2 %&'() ,'7 7M/,-7( 2&' -57 2'7! .&#)-"-/7#-G @ 5";501 '70",:07 7227.- &2 2"')- .&#!
M/7#.1 &2 -57 .&6+#-)G L# -57 &-57' 5,#(9 , )-"-/7#- 2'7M/7#.1 %,) ,0)& &:)7'87( "# ;,]7 (/',!
.&6+#-",0 '&/-7 ") "6+0".,-7(9 2&' 7K,6+079 :1 , -"&#G ^57# -57 2'7M/7#.1 &2 -57 )7.&#( .&#)-"-/7#-
2"#("#; -5,- , .&6+&/#( %"-5 , 0&%H2'7M/7#.1 2"')- %,) 6,#"+/0,-7(9 "-) 7227.- %,) #&- &:)7'87( "# -57
.&6+#- -,I7) 0&#;7' -& +'&.7)) -5,# , .&6! 2"')- 2"K,-"&# (/',-"	 :/-  2'&6 -57 )7.&#(
+&/#( %"-5 , 5";5H2'7M/7#.1 2"')- .&6+#-9 ;"87# 2"K,-"&# &#%,'() = "- ") %&'-5 #&-"#; -5,- -1+".,001
!!" Kcc
"#$ %$&'() *+,-"+'( '( "./ 0'1) 2-()/) '( "#/ %/3! .'2+%"+Q 1'5"$7 W.5%G ".$ +J$("+*+QO"+'( B1'Q$%% +%
'() 4'(%"+"5$("6 7 8./ )519"+'( '* %$&'(: *+,9"+'( +(+"+O"$J P> *+1%" O""$CB"+(; O( OQQ$%% "' ".$ *+1%"
09% 2'(;$1 0.$( ".$ %$4'(: 4'(%"+"5$(" 09% +(*1$! Q'(%"+"5$("G *'22'0$J P> O( OQQ$%% "' ".$ %$Q'(J
<5/(" ".9( 0./( +" 09% *1/<5/("7 =( $**$4" '* %$4! Q'(%"+"5$(" O(J "' ".$ 0'1J O% O 0.'2$7 =% C$(!
'(: 4'(%"+"5$(" *1$<5$(4> 09% 92%' '?%$1@/: +( "+'($J OP'@$G ".$ .'2+%"+Q 1'5"$ +% O%%5C$J "' 15(
;-A/ :51-"+'(7 8./ B9""/1( '* "./%/ 1/%52"% +% 4'C! +( BO1O22$2 0+". ".$ J$Q'CB'%+"+'( 1'5"$G O2".'5;. +"
B9"+?2/ 0+". "./ @+/0 ".9" 2'(; 4'CB'5(:% 91/ +! Q'CB2$"$% +"% X'P 2O"$1 ".O( ".$ J$Q'CB'%+"+'( 1'5"$
:/("+*+/: @+9 "./+1 4'CB'(/("% ?> *+1%" 944/%%+(; S+7$7G +" ($$J% "' OQQ5C52O"$ +(*'1CO"+'( O2%' OP'5"
"./ *+1%" 4'(%"+"5/(" *'22'0/: ?> "./ 944/%% "' "./ ".$ %$Q'(J Q'CB'($("6 7
%/4'(: 4'(%"+"5/("7 8./ "+C/ 4'51%/ '* /**/4"% (+4/! =% +% $@+J$(" *1'C OP'@$G ".$ +J$("+*+QO"+'( '*
2> %5BB'1"% ".+% @+/0D -% 0/ 'E"-+( -( /-12> /**/4" 2'(; Q'CB'5(J% OBB$O1% "' P$ O 1$2O"+@$2> %$1+O2
'* *+1%" 4'(%"+"5/(" *1/<5/(4> -(: - 1/2-"+@/2> 2-"/1 B1'Q$%% +( ".$ %$(%$ ".O" ".$ B1'Q$%%+(; B1'Q$$J%
/**/4" '* %/4'(: 4'(%"+"5/(" *1/<5/(4>7 *1'C ".$ OQQ$%% '* ".$ *+1%" Q'CB'($(" "' ".$ OQ!
F'0/@/1G ".$ %"'1> +% ('" <5+"$ %+CB2$ 9% ".9"7 Q$%% '* ".$ %$Q'(J Q'CB'($("7 =% O *51".$1 "$%" '*
H'1 2'(; 4'CB'5()% 0$ .9@$ 92%' '?"9+($) 9( $*! ".+% %$1+O2+"> O%%5CB"+'(G 0$ .O@$ 1$Q$("2> Q'(J5Q"!
*$4" '* 0.'2$I0'1J *1$<5$(4> ".9" +% %"9"+%"+4922> 1$! $J O( $>$IC'@$C$(" Q'("+(;$(" J+%B2O> Q.O(;$ $,!
2+9?2$ *1'C ".$ %$4'(J *+,9"+'( '(091J%7 8.$1$ +% B$1+C$(" YZ[\ 7 W.+% "$Q.(+<5$ O22'0$J 5% "' CO(+B!
$@$( 9 C91;+(92 "$(J$(4> *'1 9 0'1J *1$<5$(4> $*! 52O"$ 0.O" +% +(+"+O22> O@O+2OP2$ +( ".$ BO1O*'@$O2
*$4" +( ".$ *+1%" *+,9"+'( J519"+'( 92".'5;. ".$ $**$4" @+%+'( '* ".$ %$Q'(J Q'(%"+"5$(" 0.$( ".$ 1$OJ$1 +%
%+A$ +% '(2> KLMC%7 N 1$2+OP2$ $**$Q" '* 0'1J *1$! *+,O"+(; '( ".$ *+1%" Q'(%"+"5$("7 R( ".$ J+%B2O>
<5$(Q> %5;;$%"% ".O" O2%' ".$ .'2+%"+Q 1'5"$ +% +( Q.O(;$ Q'(J+"+'(G 0$ 1$B2OQ$J ".$ 2O%" 2$""$1% '*
'B$1O"+'( +( ".$ B1'Q$%%+(; '* 2'(; Q'CB'5(J%7 ".$ %$Q'(J Q'(%"+"5$(" 0+". @+%5O22> %+C+2O1 2$""$1%
F'0$@$1G +" J'$% ('" Q'C$ +("' B2O> O% $O12> O% S".$ *+1%" "0' 2$""$1% 0$1$ ]$B" +("OQ"6 G 0.+Q. COJ$
".$ J$Q'CB'%+"+'( 1'5"$7 R( '".$1 0'1J%G ".$ J$! ".$ %$Q'(J Q'(%"+"5$(" "' OBB$O1 O% O ('( I0'1J
Q'CB'%+"+'( 1'5"$ +% +(+"+O22> B1+'1+"+A$J '@$1 ".$ S+7$7G B+'($$1+1>.C"^B+'($$1 ;1'5B +(+"+O22> OBB$O1$J
.'2+%"+Q 1'5"$ +( ".$ B1'Q$%%+(; '* 2'(; Q'CB'5(J%G O% B+'($$1+1>](#_ 7 `51+(; ".$ %OQQOJ+Q $>$ C'@$!
P5" ".$ "0' 1'5"$% OBB$O1 "' 15( +( BO1O22$2 S +7$7G C$(" COJ$ *1'C ".$ *+1%" "' ".$ %$Q'(J Q'(%"+"5$("G
".$ J$Q'CB'%+"+'( 1'5"$ J'$% ('" *+(+%. P$*'1$ ".$ ".$ 2O%" 2$""$1% 0$1$ Q.O(;$J POQ] "' 0.O" ".$>
.'2+%"+Q 1'5"$ P$Q'C$% +( 'B$1O"+'(6 7 %.'52J .O@$ P$$( +( ".$ *+1%" B2OQ$7 `5$ "' %OQ!
T'CP+($J 0+". ".$ 1$%52"% 'P"O+($J *'1 %.'1"$1 QOJ+Q %5BB1$%%+'(G ".$ Q.O(;$ +"%$2* +% 2$*" 5(('!
Q'CB'5(J%G ".$ B+Q"51$ ".O" $C$1;$% +% '($ 0.$1$G "+Q$JG (OC$2> ".'%$ "1+O2% 0.$1$ ".$ %>%"$C 0O% ('"
O*"$1 *+,O"+(; ".$ Q'CB'5(JG ".$ 1$OJ$1 %"O1"% B1'! OP2$ "' CO]$ ".$ J+%B2O> Q.O(;$ J51+(; ".$ %OQ!
Q$%%+(; 0.O"$@$1 .+;. IOQ5+"> +(*'1CO"+'( +% O@O+2! QOJ$ 0$1$ $,Q25J$J *1'C ".$ O(O2>%$%7 W.$ J+%B2O>
OP2$ *1'C ".$ 0'1J7 U* O22 ".$ 2$""$1% '* O Q'C! Q.O(;$ Q'(J+"+'( 0O% Q'CBO1$J "' ".$ (' IQ.O(;$
B'5(J *O22 '("' ".$ *'@$O 0.$( +" +% *+,O"$JG O% +% Q'(J+"+'(G 0.$1$ ".$ %$Q'(J Q'(%"+"5$(" 0O% O@O+2!
">B+QO22> ".$ QO%$ 0+". %.'1"$1 Q'CB'5(J%G ".$ OP2$ ".1'5;.'5" ".$ "O1;$" 0'1J @+$0+(;7
.'2+%"+Q 1'5"$ ;$"% OQ"+@O"$J *1'C ".$ *+1%" C'C$(" W.$ 1$%52"% %.'0$J O @$1> ('"+Q$OP2$
'(0O1J% O(J ".$ J$Q'CB'%+"+'( 1'5"$ J'$% ('" P$! BO1O*'@$O2 B1$@+$0 $**$Q"7 aOA$ J51O"+'( '( ".$
Q'C$ OQ"+@O"$ O" O22 S'1 '(2> @$1> C+(+CO22>6 7 V( Q'CB'5(J 0O% ZbZC% 2'(;$1 0.$( ".$ %$Q'(J Q'(!
".$ '".$1 .O(JG 0.$( %'C$ '* ".$ 2$""$1% *O22 '5"! %"+"5$(" +(+"+O22> OBB$O1$J O% O ('(I0'1J ".O( 0.$(
%+J$ ".$ *'@$O2 1$OQ. 0.$( ".$ Q'CB'5(J +% +(+"+O2! +" 0O% ]$B" +("OQ"7 W.+% B1$@+$0 $**$Q" +% %+;(+*+!
2> *+,O"$JG O% +% ".$ QO%$ 0+". 2'(;$1 Q'CB'5(J%G QO("2> P+;;$1 ".O( 0.O" +% ">B+QO22> 'P%$1@$J *'1
".$ J$Q'CB'%+"+'( 1'5"$ +(+"+O22> 0+(% '@$1 ".$ BO1O*'@$O2 B1$@+$0% ".O" O1$ %$BO1O"$J *1'C ".$
`NN !"#$%&' (!)
0 12314
"#$%&'%( )#*( +, & -.&/% 5 6%-.7'% '87- +79 '8% .*%-%@' /#@'%A' 7@ '8&' =#-' [87@%-% )#*(- &*%
.*%$7%) %""%/': 7' 7- ;<7'% *%=&*>&+?% '8&' '8% %""%/' /#=.#<@( )#*(- 7@ '8% -%@-% '8&' '8%, /#@-7-' #"
(7( @#' -8#) <. 7@ '8% "7A&'7#@ '7=% -.%@' #@ '8% ')# #* =#*% /8&*&/'%*-G F@ #*(%* '# 9%' & +%''%*
"7*-' /#@-'7'<%@': +<' '8% %""%/' #@?, -<*"&/%( &"'%* <@(%*-'&@(7@9 #" '8% +&-7/ *%&(7@9 .*#/%--%- 7@
'8% -%/#@( /#@-'7'<%@' )&- "7A&'%(5 B% '&>% '87- &- [87@%-%L F '87@> 7' )#<?( +% 7=.#*'&@' '# "7@( #<'
-'*#@9 %$7(%@/% 7@ -<..#*' #" '8% -%*7&?7', $7%): &/! &+#<' 8#) '8% =%&@7@9 #" [87@%-% )#*(- 7- (%*7$%(
/#*(7@9 '# )87/8 '8% 7@7'7&? -'&9%- #" .*#/%--7@9 #<' #" 7'- /#=.#@%@' /8&*&/'%*- &@( '8%7* =%&@7@9-G
?#@9 /#=.#<@( )#*(- &*% (%$#'%( '# '8% &''%=.' #" !""#$%& '" ( &)*$+"+$ ,*(-+./ /'(0 '. ,*(-+./
&//%--7@9 '8% "7*-' /#@-'7'<%@': &@( 7' 7- @#' <@'7? 0'./ *1)'&+%',2 %*1%&
'8% -%/#@( /#@-'7'<%@' 7- "7A&'%( '8&' 7'- ?%A7/&? &/! F@ '8% -%/#@( .&*' #" =, &*'7/?% F *%$7%) #<*
/%-- 7- &''%=.'%(5 C#'% 8#)%$%* '8&' *%&(%*- (# %,% =#$%=%@' *%-%&*/8 #@ '%A' /#=.*%8%@-7#@ .*#!
.*#/%-- -#=% "%&'<*%- #" '8% -%/#@( /#@-'7'<%@' /%--%-G F "#/<- .&*'7/<?&*?, #@ '8% %""%/'- #" & -.%!
)87?% "7A&'7@9 #@ '8% "7*-' /#@-'7'<%@'D #'8%*)7-% )% /7"7/ *%&(7@9 9#&? #@ #@R?7@% '%A' /#=.*%8%@-7#@ &-
)#<?( @#' 8&$% #+'&7@%( '8% +79 .*%$7%) %""%/'5 7' 7- *%"?%/'%( 7@ '8% *%&(%*- " %,% =#$%=%@'
E<' 7=.#*'&@'?,: )8&'%$%* 7@"#*=&'7#@ 7- .7/>%( <. *%/#*(-G \8% -'&*'7@9 .#7@' '# #<* *%-%&*/8 )&- '8%
#" '8% -%/#@( /#@-'7'<%@' .&*&"#$%&??, 7' (#%- @#' /?&--7/ -'<(, #" ]@(%*-#@ &@( ^7/8%*' )8# 7@$%-'7!
&""%/' '8% "7A&'7#@ '7=% #@ '8% "7*-' /#@-'7'<%@'5 F' 9&'%( )8&' /#@-%;<%@/%- & .%*-.%/'7$% &(#.'%( +,
7- %A&/'?, '87- &-.%/' #" '8% (&'& '8&' -<..#*'- '8% & *%&(%* =&, 8&$% #@ )8&' 8% #* -8% *%=%=+%*-
-%*7&?7', $7%)G B% /<**%@'?, '87@> '8&' '8% 7@"#*=&! #" '8% '%A' J M_4 5 B% 8&$% &?-# '%-'%( '8% =%=#*,
'7#@ .7/>%( <. .&*&"#$%&??, #" '8% -%/#@( /#@! "#* '%A' &"'%* *%&(7@9: +<' #<* .*7=&*, 7@'%*%-' 8&-
-'7'<%@' 7- #*'8#9*&.87/ 7@"#*=&'7#@ H75%52 7@"#*=&'7#@ +%%@ #@ '8% %""%/'- #" & *%&(7@9 .%*-.%/'7$% #@ '8%
&+#<' '8% ?%''%* 7(%@'7'7%-I &@( @#' ?%A7/&? 7@"#*=&! #@9#7@9 /#=.*%8%@-7#@ .*#/%--%-5
JKLMN4
'7#@ G F@ #<* -'<(7%- JM`aMb4 )% 8&$% 97$%@ '8% *%&(%*-
O# -<= <. '8% "7*-' -%/'7#@L P )&@' '# .#7@' & -.%/7"7/ *%&(7@9 9#&?: & *%&(7@9 .%*-.%/'7$%: "*#=
#<' '8&' #<* *%-%&*/8 #@ /#=.#<@( )#*( 7(%@'7"7/&! )87/8 '# &..*#&/8 '8% '%A'5 W#* %A&=.?%: +%"#*%
'7#@ 8&- @#' #@?, '&<98' <- & 9##( (%&? &+#<' 8#) *%&(7@9 & '%A' #@ "&=7?7&* (7-%&-%- T "?<: (7&**8%&:
=#*.8#?#97/&??, /#=.?%A )#*(- &*% *%/#9@7Q%(L +<' VF6c: &@( /87/>%@ .#AU '8% *%&(%* )&- 97$%@ '8%
7' 8&- &?-# .*#$%( '# +% & 9##( '%-'7@9 9*#<@( '# "#??#)7@9 *%&(7@9 .%*-.%/'7$% T#* 9#&?U d e F=&97@%
-'<(, 8#) '8% %,%- &@( &''%@'7#@ 7- 9<7(%( 7@ '%A' '8&' ,#< &*% 9#7@9 '# 97$% & 8%&?'8 %(</&'7#@ /?&--
(<*7@9 *%&(7@9G P' 8&- &?-# (%=#@-'*&'%( '8% "*<7'! "#* %?%=%@'&*, -/8##? .<.7?-G f#< &*% -<..#-%( '#
"<?@%-- #" '8% %,% R'*&/>7@9 '%/8@7;<%: )87/8 8&- '%?? '8%= &+#<' "?<d "#* %A&=.?%: )8&' /&<-%- 7':
&??#)%( <- '# '&. 7@'# '8% %A&/' '7=% /#<*-% #" 8#) ,#< /&@ '*%&' 7': &@( 8#) '# .*%$%@' "*#= 9%'!
/#=.#<@( )#*( .*#/%--7@95 S&( )% <-%( & -7@9?% '7@9 '8% (7-%&-%5 C#) *%&( '8% '%A' 7@ #*(%* '# +%
.*#/%--7@9 =%&-<*%: -</8 &- ?%A7/&? (%/7-7#@ '7=%: &+?% '# (# '8% g#+5e \87- >7@( #" *%&(7@9 .%*-.%/!
)% /#<?( @#' 8&$% +%%@ &+?% '# #+-%*$% =&@, #" '7$% *%@(%*- -#=% '%A' 7@"#*=&'7#@ *%?%$&@' &@( #'8!
'8% %""%/'- (7-/<--%( &+#$% T '8% (7""%*%@'7&'7#@ +%! %* '%A' 7@"#*=&'7#@ 7**%?%$&@'5 c.%/7"7/&??,: 7@"#*=&!
')%%@ %&*?, $%*-<- ?&'% %""%/'-U G '7#@ 97$%@ 7@ '8% '%A' &+#<' "?< 7- .%*-.%/'7$%h*%?!
V- "&* &- F >@#)L &?? '8% %,%R'*&/>7@9 -'<(7%- %$&@': )87?% 7@"#*=&'7#@ &+#<' '8% #'8%* (7-%&-%- 7-
/#@(</'%( #@ /#=.#<@( )#*( .*#/%--7@9 8&$% -# .%*-.%/'7$% h7**%?%$&@'5 B% -%?%/'%( MN -%@'%@/%-
"&* (%&?' )7'8 &?.8&+%'7/ ?&@9<&9%-L -</8 &- "*#= '8% '%A' '8&' .*#$7(%( 7@"#*=&'7#@ &+#<' '8%
W7@@7-8L X%*=&@L &@( Y@9?7-8G F' )#<?( +% 8798?, "?< '8&' )&- /#@-7(%*%(: &//#*(7@9 '# & .*%h'%-': '#
7@'%*%-'7@9 '# %A'%@( '8% *%-<?'- '# @#@ R&?.8&+%'7/ +% ',.7/&??, &--#/7&'%( )7'8 '87- (7-%&-%5 \8%-%
-/*7.'- ?7>% Z87@%-%G [87@%-% 7- &?-# 7@'%*%-'7@9 7@ -%@'%@/%- )%*% =&'/8%( 7@ ?%@9'8 &@( 7@ &$%*&9%
!!" d10
"#$% &$'()*+,- ./ 01 2$$*3*45+. 67+.7+,76 .85. ,/+! @$/L7662+?G .87 @$/?$766247 &2$6. B@K66 &2FK.2/+ .297
47-7% 2+&/$95.2/+ 5:/). %25$$875; < =8* $*5>2+? 2+O7F2+? .87 9/6. 2997O2K.7 7&&7L. K+O 3//E BNKLE
@*$6@*,.24* "56 ,/)+.*$:535+,*> 5,$/66 @5$.2,2@5+.6 &2FK.2/+ .297 K O73K-7O 7&&7L. \X1J ;
6/ .85. &/$ 853& /& .8*9 >25$$8*5 "56 .8* .5$?*. ]+ /)$ &2$6. 7-7 9/4797+. 6.)O- \ 0^J /+ .826
>26*56*A 2+ "82,8 ,56* .8* &3) 6*+.*+,*6 ,/9@$26*% ./@2L "7 /N67$47O K+ 7&&7L. /& $7KO2+? @7$6@7L.247
.8* @*$6@*,.24*B2$$*3*45+. 6*+.*+,* 6*.;C N/.8 2+ .87 &2$6.B@K66 &2FK.2/+ .297 K+O 2+ 3//EBNKLE
D7 "7$7 536/ 2+.7$76.7> 2+ "85. $/37 "/$E2+? &2FK.2/+ .297; _7KO7$6 6@7+. 62?+2&2LK+.3- 3/+?7$ .297
979/$- ,5@5,2.- 95- @35- 2+ /+B32+7 .7F. ,/9@$*! $7KO2+? .87 @7$6@7L.247B$7374K+. 67+.7+L76 .8K+ .87
8*+62/+; =8)6G "7 5>92+26.7$7> .87 $75>2+? 6@5+ @7$6@7L.247B2$$7374K+. 67+.7+L76; T]. 68/)3O N7 97+!
H 0IJ
.7F. ./ /)$ @K$.2L2@K+.6; M+ .87 NK626 /& .87 .2/+7O .8K. 2+ K33 /)$ 7F@7$297+.6 "7 8K47 K36/
.76.G "7 &/$97O K ?$/)@ /& 82?8BLK@KL2.-G K ?$/)@ &/)+O K N7..7$ 979/$- &/$ @7$6@7L.247B$7374K+. .8K+
/& 97O2)9 BLK@KL2.-G K+O K ?$/)@ /& 3/" BLK@KL2.- @7$6@7L.247 B2$$7374K+. 2+&/$9K.2/+;C `/$7/47$G "7
$7KO7$6; =/ 629@32&- .87 6./$- K N2.G N73/" P /+3- /N67$47O O2&&7$7+L76 2+ .87 .292+? /& .87 @7$6@7L!
6)99K$2Q7 .87 OK.K &/$ 82?BK+O 3/"BLK@KL2.- $7KO! .247 7&&7L. K9/+? /)$ $7KO7$ ?$/)@6; [87- K33
7$6; RLL/$O2+? ./ /+7 2+&3)7+.2K3 .87/$- /& "/$E2+? O79/+6.$K.7O K $732KN37 @7$6@7L.247 7&&7L. 2+ @$/!
979/$- H0SJ G "/$E2+? 979/$- LK@KL2.- 26 $73K.7O ./ L7662+?G N). 2+ O2&&7$7+. @/2+.6 2+ .297; [87 82?8B
.87 7&&2L27+L- "2.8 "82L8 K..7+.2/+K3 $76/)$L76 K$7 LK@KL2.- $7KO7$6 O79/+6.$K.7O .87 7&&7L. K3$7KO- 2+
O74/.7O ./ .K6EB$7374K+. 2+&/$9K.2/+ K+O K"K- &$/9 .87 &2$6.B@K66 &2FK.2/+ .297G "87$7K6 .87 3/"BLK@KL!
.K6E B2$$7374K+. 2+&/$9K.2/+; P& .826 26 2+O77O .87 2.- $7KO7$6 68/"7O 2. /+3- 2+ .87 3//EBNKLE &2FK.2/+
LK67G 82?8 BLK@KL2.- $7KO7$6 68/)3O N7 9/$7 7&&2! .297 T2;7;G "2.8 6/97 O73K-C ; [8767 OK.K K$7 L/+!
L27+. .8K+ 3/" BLK@KL2.- $7KO7$6 2+ K33/LK.2+? .872$ 626.7+. "2.8 .87 6.$K.7?2L K33/LK.2/+ /& K..7+.2/+ 427"
426)K3 K..7+.2/+ ./ @7$6@7L.247 B$7374K+. 2+&/$9K.2/+; /& "/$E2+? 979/$- \ 0SJ G KLL/$O2+? ./ "82L8 82?8 B
P+ /.87$ "/$O6G "7 $7K6/+7O .8K. 82?8 BLK@KL2.- LK@KL2.- $7KO7$6 K$7 N7..7$ KN37 ./ 7&&2L27+.3- K33/!
$7KO7$6 68/)3O O79/+6.$K.7 K ?$7K.7$ 7&&7L. /& $7KO! LK.7 K..7+.2/+ ./ .K6EB$7374K+. 2+&/$9K.2/+ K+O K"K-
2+? @7$6@7L.247 .8K+ 3/"BLK@KL2.- $7KO7$6; &$/9 .K6EB2$$7374K+. 2+&/$9K.2/+;
\0aJ
=8$77 .-@76 /& 67+.7+L7 B37473 7-7 &2FK.2/+ ]+ .87 &/33/"B)@ 6.)O- G "7 "K+.7O ./ L/9!
97K6)$76 "7$7 L/9@).7O &/$ .87 .K$?7. 67+.7+L76 @K$7 .87 7&&7L. /& $7KO2+? @7$6@7L.247 &/$ K .7F. /+
T 01 @7$6@7L.247 B$7374K+.G 01 @7$6@7L.247 B2$$7374K+. &K9232K$ L/+.7+.6 ./ .8K. /N67$47O &/$ K .7F. /+ )+!
67+.7+L76C U <0C @$/?$766247 &2$6.B@K66 &2FK.2/+ .297V &K9232K$ L/+.7+.6 T 2+ .87 X11X 6.)O-G "7 )67O K
.87 6)997O O)$K.2/+ /& &2FK.2/+6 3K+O2+? /+ K+ .7F. /+ )+&K9232K$ L/+.7+.6W .87 .7F. O76L$2N7O &/)$
)+$7KO @K$. /& K 67+.7+L7 N7&/$7 7F2.2+? 2.W < XC $79/.7 L/)+.$276C ; [87 .7F. "2.8 &K9232K$ L/+.7+.6
&2$6. B@K66 $7$7KO2+? .297 V.87 6)997O O)$K.2/+ /& O76L$2N7O &/)$ O267K676 T677 KN/47C .87 $7KO7$6 8KO
&2FK.2/+6 $7.)$+2+? ./ K3$7KO- $7KO @K$.6 /& K K9@37 @$2/$ E+/"37O?7 KN/).G "8237 .87 .7F. "2.8
67+.7+L7 N7&/$7 7F2.2+? .87 67+.7+L7Y K+O <!C 3//EB )+&K9232K$ L/+.7+.6 O76L$2N7O &/)$ 3K$?73- )+E+/"+
NKLE &2FK.2/+ .297V.87 6)997O O)$K.2/+ /& &2FK.2/+6 O267K676 T.$2?792+)6+7)$K3?-G .-@8)6G L-6.2L &2N$/626G
3K)+L87O &$/9 6)N67()7+. .7F. NKLE ./ .87 .K$?7. K+O 6L37$/O7$9KC ; [87/$7.2LK33-G .87 L/9@K$26/+
67+.7+L7; Z- KOO2+? )@ .87 &2$6. ."/ 97K6)$76 N7."77+ .7F.6 /& &K9232K$ 47$6)6 )+&K9232K$ L/+.7+.6
< @$/?$766247 &2$6. B@K66 &2FK.2/+6 K+O &2$6. B@K66 26 2+.7$76.2+? K6 2. 9KE76 L/+.KL. "2.8 .87 +/.2/+
$7$7KO2+? &2FK.2/+6C "7 /N.K2+ .87 &2$6.B@K66 &2FK.2/+ /& 3/+?B.7$9 "/$E2+? 979/$- @). &/$.8 N- b$2L66/+
.297G "82L8 26 K 97K6)$7 /& .87 /47$K33 .297 K+O c2+.6L8 \ X0J ; RLL/$O2+? ./ .826 L/+L7@.2/+G
$7KO7$6 6@7+. 3//E2+? K. .87 .K$?7. 67+.7+L7 N7&/$7 "/$E2+? 979/$- LK@KL2.- 26 $73K.7O ./ .87 KN232.- ./
9/42+? ./ .87 +7F.; [87 .8$77 97K6)$76 97+.2/+7O 7&&2L27+.3- )67 @$2/$ E+/"37O?7 O)$2+? 7+L/O2+?; ]&
KN/47 "7$7 O762?+7O ./ .K@ 2+./ .87 .297 L/)$67 /& 6/G 82?8 BLK@KL2.- $7KO7$6 68/)3O N7 KN37 ./ 9KE7
TU! !"#$%&' (!)
"#$$#% &'# () $*#+% ,%+(% -.(/0#12# $*3. 0(/453,35! 5(.$%(0'> $*# *+2* 457,75+$6 %#71#%' +.9#'$#1 #:$%7
+$6 %#71#%' +. #.5(1+.2 $( 8#8(%6 ,#%',#5$+9#4%#0#! ,%(5#''+.2 $+8# $( %#0#97.$ +.)(%87$+(. 70%#716 1&%!
97.$ +.)(%87$+(. () $*# )78+0+7% 1+'#7'# $#:$; +.2 $*# +.+$+70 #.5(&.$#% () $*7$ +.)(%87$+(.; J.
<*+' /7' +. )75$ /*7$ /# )(&.1; =. $*# )78+0! ($*#% /(%1'> $*#+% ,%(2%#''+9# )+:7$+(. $+8#' /#%#
+7% 1+'#7'#' $#:$> $*# *+2*457,75+$6 %#71#%' $((- .( '+2.+)+57.$06 0(.2#% (. $*# %#0#97.$ '#.$#.5#' $*7.
0(.2#% $+8# $( %#71 $*# ,#%',#5$+9# %#0#97.$ $*7. $*('# () $*# 5(.$%(0 2%(&, /*( /#%# .($ 2+9#. 7
,#%',#5$+9# +%%#0#97.$ '#.$#.5#'; ?#$> 7)$#% %#71+.2 ',#5+)+5 %#71+.2 ,#%',#5$+9#; M. $*# ($*#% *7.1>
$*#6 '*(/#1 7 50#7%06 "#$$#% 8#8(%6 )(% %#0#97.$ $*#6 1+1 .($ +.+$+7006 '0(/ 1(/. $*#+% %#71+.2 ()
$*7. +%%#0#97.$ +.)(%87$+(.; @# 7%2&# $*7$ $*+' +' $*# +%%#0#97.$ '#.$#.5#' N727+. 5(8,7%#1 $( $*# ,%(!
"#57&'# $*#6 *79# )7'$ 755#'' $( ,%+(% -.(/0#12# 2%#''+9# )+:7$+(. $+8#' () $*#+% 5(.$%(0'O ; A*# ,7$!
$*7$ 57. "# %#71+06 "%(&2*$ $( "#7% $( *#0, #.5(1# $#%. () %#'&0$' 0((-#1 P&+$# 1+))#%#.$ )(% $*# 0(/ 4
$*# %#0#97.$ +.)(%87$+(. $( 8#8(%6 1&%+.2 %#71+.2; 57,75+$6 %#71#%'; A*#+% +88#1+7$# %#',(.'#> 7' +.!
A*7$ +' /*6 $*#6 1+1 .($ .##1 $( )+:7$# 7.6 0(.2#% 1#:#1 "6 $*# ,%(2%#''+9# )+:7$+(. $+8# 8#7'&%#> /7'
(. %#0#97.$ $*7. +%%#0#97.$ $7%2#$ '#.$#.5#'; A*# $( ',##1 &, (. $*# +%%#0#97.$ '#.$#.5#'; M. $*#
0(/457,75+$6 %#71#%'> (. $*# ($*#% *7.1> 1+1 .##1 ($*#% *7.1> $*# 0(/ 457,75+$6 %#71#%' 1+1 .($ '0(/
$( 1( '(; A*#+% )+%'$ 4,7'' 7.1 0((- 4"75- )+:7$+(. 1(/. $*#+% %#71+.2 () $*# %#0#97.$ '#.$#.5#' 1&%+.2
$+8#' /#%# '+2.+)+57.$06 0(.2#% )(% ,#%',#5$+9# %#0#! $*# )+%'$4,7'' %#71+.2> "&$ $*#6 +.9#'$#1 #:$%7 9+'&!
97.$ $*7. ,#%',#5$+9# +%%#0#97.$ '#.$#.5#'; B00 +. 70 7$$#.$+(. $( %#0#97.$ '#.$#.5#' (.06 07$#%> 7' +.!
700> $*# ,7$$#%. () (&% %#'&0$' +' 5(.'+'$#.$ /+$* $*# 1#:#1 "6 8(%# 0((- 4"75-' 871# $( $*# %#0#97.$
.($+(. () 0(.2 4$#%8 /(%-+.2 8#8(%6 ,%(,('#1 "6 '#.$#.5#'; A*#'# 17$7 7%# 5(8,7$+"0# /+$* $*#
C%+5''(. 7.1 D+.$'5* EFGH ; '$%7$#2+5 700(57$+(. () 7$$#.$+(. 9+#/ () /(%-+.2
A*# &.)78+0+7% 1+'#7'#' $#:$ %#,0+57$#1 (&% 8#8(%6 EGQH +. $*7$ $*# *+2*457,75+$6 %#71#%' '/+)$06
,%#9+(&' %#'&0$' E GIH +. '*(/+.2 $*7$ $*# *+2* 457! 700(57$#1 #:$%7 7$$#.$+(. $( %#0#97.$ +.)(%87$+(. +8!
,75+$6 %#71#%' '*(/#1 $*# ,#%',#5$+9# #))#5$ +. 7. 8#1+7$#06 /*#. +$ /7' #.5(&.$#%#1> /*+0# 0(/ 457!
#7%0+#% ,*7'# () ,%(5#''+.2 $*7. $*# 0(/ 457,75+$6 ,75+$6 %#71#% 1+1 '( (.06 /+$* '(8# $+8# 1#076;
%#71#%'; J. (%1#% $( 2#$ 7 8(%# 1#$7+0#1 ,+5$&%# () J. 5(.50&'+(.> (&% '$&1+#' () $*# ,#%',#5$+9#
$*# 700(57$+(. () 9+'&70 7$$#.$+(. $( ,#%',#5$+9# %#0! #))#5$' (. (.40+.# $#:$ 5(8,%#*#.'+(. *79# %#9#70#1
#97.$ 9#%'&' +%%#0#97.$ $#:$ '#28#.$'> /# %7. 7 $*7$ N GO 7 %#71+.2 2(70 +' 57,7"0# () #:#%$+.2 7.
5(.$%(0 #:,#%+8#.$> /*#%# .( ',#5+)+5 %#71+.2 ,#%! #7%06 #))#5$ (. %#71#%' " #6# )+:7$+(. ,7$$#%.'> N !O
',#5$+9# /7' 2+9#.; A*# ,7%$+5+,7.$' /#%# '+8,06 #6# 8(9#8#.$ %#5(%1+.2' $7, +.$( $*# $+8# 5(&%'#
$(01 $( %#71 $*# $#:$ +. (%1#% $( "# 7"0# $( /%+$# 7 () ,%(5#''+.2> N RO $+8# 5(&%'# 7.706'#' 57. %#9#70
'&887%6 () $*# $#:$ 5(.$#.$' 7)$#% %#71+.2; K(8,7%! +.$#%#'$+.2 +.1+9+1&70 1+))#%#.5#'> 7.1 N SO /(%-+.2
+'(.' $( $*# 5(.$%(0 2%(&, 871# +$ ,(''+"0# $( $#7'# 8#8(%6 57,75+$6 +' 0+.-#1 $( $*# #))+5+#.56 $(
7,7%$ $*# .7$&%# () $*# ,#%',#5$+9# #))#5$L $( /*7$ '$%7$#2+57006 700(57$# 7$$#.$+(. 7' /#00 7' $( #.5(1#
#:$#.$ $*# ,#%',#5$+9# #))#5$ +' 1&# $( '0(/+.2 +.)(%87$+(. $( 7.1 %#$%+#9# +$ )%(8 $*# 0(.2 4$#%8
1(/. (. %#0#97.$ +.)(%87$+(. 7.1 $( /*7$ #:$#.$ +$ 8#8(%6;
+' 1&# $( ',##1+.2 &, (. +%%#0#97.$ '#.$#.5#'; !"#$% &'($)*+
A*#'# 5(8,7%+'(.' /#%# 871# '#,7%7$#06 )(% $*# J. $*+' 7%$+50#> J *(,# $( *79# "##. 7"0# $(
*+2*457,75+$6 7.1 0(/457,75+$6 %#71#%'; J. (%1#% $( '*(/ $*7$ $*# #6#4$%75-+.2 $#5*.+P&# +' 7. #:5#00#.$
"# 7"0# $( 1( '(> /# $#'$#1 +. $*# 5(.$%(0 #:,#%+! %#'#7%5* $((0 $( $7, +.$( $*# /(%-+.2' () $*# *&87.
8#.$ 7 2%(&, () *+2* 47.1 0(/ 457,75+$6 %#71#%' 8+.1 1&%+.2 $*# 5(8,%#*#.'+(. () /%+$$#. $#:$'; J.
/*( *71 .($ ,7%$+5+,7$#1 +. $*# #:,#%+8#.$ ,%(,#%; $*# )+%'$ '#5$+(. J '*(/#1 $*7$ +$ ,%(9+1#' $*# %#!
A*# %#'&0$' '*(/#1 $*7$> +. 5(8,7%+'(. $( $*#+% '#7%5*#% /+$* 1#$7+0#1 7.706'#' () $*# 5(2.+$+9# ,%(!
!!" pNc
"*89%#2#-) &*-:#% (#;($ /$ +#&& /$ (* $(6)7 ),..#%! #..#"(@ Q#8*%7 U V*:-,(,*-G RWXYG XZ =[!\>X>
#-"#$ ,- ,-),4,)6/& %#/),-: $(%/(#:,#$<=>? @ > ]#%(%/8 SG ^7"-# _@ K2# &#-:(2 *. / "*89&#; +*%) 8*),.,#$ (2#
A .##& *6% %#$6&($ /%# $6..,",#-(&7 9%*8,$,-: (* %*&# *. 8*%92*&*:,"/& $(%6"(6%#Z `4,)#-"# .%*8 #7# 8*4#8#-($
#-"*6%/:# .6%(2#% %#$#/%"2 *- (2#$# (*9,"$0 B(6),#$ +2#- %#/),-: $2*%( /-) &*-: a,--,$2 "*89*6-)$@ _*6%-/& *.
*- (2# "*89*6-) +*%) 9%*"#$$,-: ,- C2,-#$# +*6&) Q#8*%7 /-) b/-:6/:#G =NNcG deZ fRg\h!i
5# 9/%(,"6&/%&7 +#&"*8# .*% D '( &#'$(E (+* %#/$*-$@ ! ^7"-# _G ]#%(%/8 SG j*&&/($#H P@ k,- 9%#$$I @ P%# &*-: "*8!
F,%$(G (* 6-)#%$(/-) (2# 5/$," %#/),-: /-) +*%) 9*6-) +*%)$ ,)#-(,.,#) $#%,/&&7 4,/ (2#,% "*-$(,(6#-($l `4,)#-"#
%#"*:-,(,*- 9%*"#$$#$ ,- C2,-#$# +# -##) (* H-*+ .%*8 /- #7#J8*4#8#-( "*-(,-:#-( ),$9&/7 "2/-:# $(6)7@ Q#8*%7
(2# +*%) "*-$,$($ *. (+* *% 8*%# "2/%/"(#%$@ B#"! i ^7"-# _G j*&&/($#H P@ Q*%92*&*:,"/& 9%*"#$$,-: *. a,--,$2 "*8!
*-)G "*89*6-) +*%) $(6),#$ ,- C2,-#$# %#-)#% 9*6-) +*%)$ ,- %#/),-:@ A- P@ m#--#)7G S@ S/)/"2G n@ ^#&&#%
9*$$,5&# "*89/%,$*-$ 5#(+##- /&92/5#(," /-) -*- J U _@ j7-(# o `)$@I G S#/),-: /$ / 9#%"#9(6/& 9%*"#$$@ L;.*%)Z
(,8/(# +2/( 9%*"#$$,-: .#/(6%#$ /%# 6-,4#%$/& /-) p ^7"-# _G j*&&/($#H P@ K2# %*&# *. "*89*-#-( 8*%92#8#$ *- #7#
+2/( /%# &/-:6/:#J$9#",.,"@ .,;/(,*-$ +2#- %#/),-: a,--,$2 "*89*6-) +*%)$@ _*6%-/& *. `;!
K2# 6$# *. (2# #7# J(%/"H,-: 8#(2*) (* $(6)7 9#%,8#-(/& j$7"2*&*:7Z ^68/- j#%"#9(,*- /-) j#%.*%8/-"#G
5##- %#&/(,4#&7 &,8,(#)@ K2#%# /%# 9%*5/5&7 $#4#%/& h j*&&/($#H PG ^7"-# _@ D,- 9%#$$I @ K2# %*&# *. $#8/-(," (%/-$!
%#/$*-$ .*% (2,$@ L-# ,$ (2/( (2# %#$#/%"2 2/$ -*( 9/%#-"7 ,- (2# 9%*"#$$,-: *. a,--,$2 "*89*6-) +*%)$@ b/-:6/:#
7#( 5##- /5&# (* "&#/%&7 #$(/5&,$2 +2/( (2# 8*$( /-) V*:-,(,4# j%*"#$$#$
.%6,(.6& #7# 8*4#8#-( 8#/$6%#$ +*6&) 5# (* $(6)7 X j*&&/($#H PG ^7"-# _G ]#%(%/8 S@ K2# %*&# *. 8*%92*&*:,"/& "*-!
(2# 9%*"#$$,-: *. #;(#-)#) ),$"*6%$#@ M&(2*6:2 ,( ,$ $(,(6#-($ ,- %#/),-: a,--,$2 "*89*6-) +*%)$@ _*6%-/& *. `;9#%,!
9%*5/5&7 (%6# (2/( -* $(/-)/%)$ 2/4# 5##- $#( 7#(G 8#-(/& j$7"2*&*:7Z ^68/- j#%"#9(,*- /-) j#%.*%8/-"#G >NNNG
5##- $6::#$(#) <>N? @ O-*(2#% 9*$$,5&# %#/$*- .*% (2# q P-)%#+$ BG Q,&&#% ]G S/7-#% m@ `7# 8*4#8#-($ /-) 8*%92*&*:!
$"/%",(7 *. $(6),#$ ,$ (2/( (2# /-/&7$#$ (#-) (* 5# ,"/& $#:8#-(/(,*- *. "*89*6-) +*%)$Z K2#%# ,$ / 8*6$# ,- (2#
(,8#J"*-$68,-: /-) +*%HJ,-(#-$,4#@ P&(2*6:2 (2#%# 8*6$#(%/9@ `6%*9#/- _*6%-/& *. V*:-,(,4# j$7"2*&*:7@ =NNiG RhZ
8#-( /-/&7$#$ /%# +*%(2 (2# #..*%(G /$ (2#7 9%*4,)# Y A-2*.. P sG S/)/"2 SG ^#&&#% n@ V*89&#; "*89*6-)$ ,- t#%!
4/&6/5&# )/(/ *- (2# )#(/,&#) (,8# "*6%$# *. 9%*! 8/-Z A-(#%+*%) $9/"#$ ./",&,(/(# $#:8#-(/(,*- 56( 2,-)#% /$$,:-!
"#$$,-: *(2#% *- J&,-# 8#/$6%#$G $6"2 /$ $#-(#-"# 8#-( *. 8#/-,-:@ _*6%-/& *. Q#8*%7 /-) b/-:6/:#G =NNNG u=Z
(2# 8#(2*) 9%*4,)#$ 6$#.6& 8#/$6%#$ (* $(6)7 ),..#%! RN A-2*.. P sG B(/%% QG B2,-)&#% m b@ A$ (2# 9%*"#$$,-: *. +*%)$
#-"#$ ,- ,-),4,)6/& %#/),-: $(%/(#:,#$@ P)6&( %#/)#%$ )6%,-: #7# .,;/(,*- ,- %#/),-: $(%,"(&7 $#%,/&l j#%"#9(,*- U j$7!
/99#/% (* ),..#% $,:-,.,"/-(&7 ,- 2*+ 86"2 (2#7 "2*927$,"$G =NNNG h=Z RiXi\Riqi
%#%#/) / $#-(#-"# 5#.*%# 8*4,-: *- (* (2# -#;( RR _62/$v ] _G A-2*.. P sG S/7-#% m@ D,- 9%#$$I @ K2# %*&# *.
*-# /-) 9/%(,"6&/%&7 2*+ 86"2 (2#7 &**H 5/"H (* ,-(#%+*%) $9/"#$ ,- (2# 9%*"#$$,-: *. `-:&,$2 "*89*6-) +*%)$@
9%#4,*6$ $#-(#-"#$ +2#- %#/),-: &*-: (#;($ < >>? @ b/-:6/:# /-) V*:-,(,4# j%*"#$$#$
K2,$ H,-) *. %#/),-: 5#2/4,*% ,$ %#/),&7 "/9(6%#) R= _62/$v ] _G B(/%% QG A-2*.. P sG !" #$@ K2# #..#"($ *. 8*%92*&!
57 (2# #7# 8*4#8#-( 8#(2*)@ *:7 *- (2# 9%*"#$$,-: *. "*89*6-) +*%)$Z `4,)#-"# .%*8 -/8!
Z=@ !"#$%&' (!)
"#$% &'(")*& +,)"-".#-% /#+ ,0, 1"(/2".#-3 45"2"-6 7.85#/& .1 9-0! 4,6*K".5; E?P=; E?A @Z=C@``
)6.&.:0; <==>; ?@A !!BC<DD E? e#:&, F U; G*#, ] T; f86.&-[" g U3 d#+"K"+8*& +"11,5,#M,- "#
EB F*0#,5 GH I0, J.K,J,#2- "# 5,*+"#: *#+ "#1.5J*2".# L5.M,--,-A U]S *#+ W6*2 26,0 2,&& 8- *V.82 M.#25.&&,+ *22,#2".#; :,#,5*&
<= 0,*5- .1 5,-,*5M63 N-0M6.&.:"M*& 48&&,2"#O E??P; E<@A >Q<C@<< 1&8"+ "#2,&&":,#M,; *#+ 18#M2".#- .1 26, L5,15.#2*& M.52,(3 d# R3
E@ R#+,5-.# F S; N"M6,52 T U3 F,M*&& .1 L5,K".8-&0 8#5,M*&&*V&, ]"0*[, *#+ N3 g6*6 he+-3i O ].+,&- .1 W.5["#: J,J.50A ],M6!
"#1.5J*2".# 1.&&.W"#: * -6"12 "# L,5-L,M2"K,3 T.85#*& .1 X,5V*& *#"-J- .1 *M2"K, J*"#2,#*#M, *#+ ,(,M82"K, M.#25.&3 S*JV5"+:,O
Y,*5#"#: *#+ X,5V*& 4,6*K".5; E?QP; EQA ECE< jGA S*JV5"+:, j#"K,5-"20 N5,--3 E???3 E=<CE>@
EZ G**["#,# 7 G; \0"## 7; G,,#*# 7 ]3 ^#+"K"+8*& +"11,5,#M,- "# <= c0"## TO Y.5M6 F kO F"#M[ ]3 I0, J.K,J,#2 J,*-85,- 2.
L,5-L,M2"K, ,11,M2- .# 2,(2 J,J.50H S855,#2 N-0M6.&.:"M*& Y,22,5-A -28+0 :&.V*& 2,(2 L5.M,--"#:3 d# T3 c0"## O F3 F*+*M6 _ c3
4,6*K".85O 45*"# _ S.:#"2".#; <==E; ZA <EC>< b,8V,& lI+-3i % f6, J"#+$- ,0,A S.:#"2"K, *#+ *LL&",+ *-L,M2-
E` G**["#,# T G; \0"## T; G,,#*# T ]3 N,5-L,M2"K, ,11,M2- .# .#a .1 ,0, J.K,J,#2 5,-,*5M63 RJ-2,5+*JA I&-,K",5 gM",#M,3 <==>3
&"#, 2,(2 L5.M,--"#:3 b"-M.85-, N5.M,--,-; <==<; >>A EZ?CEQ> >E>C>>@
EQ G**["#,# T G; c0"## T; G,,#*# T ]3 c.W L5".5 [#.W&,+:,; <E I5"M--.# G R% G"#2-M6 U3 Y.#:a2,5J W.5["#: J,J.503 N-0!
W.5["#: J,J.50 M*L*M"20; *#+ 5,&,K*#M, .1 "#1.5J*2".# *11,M2 M6.&.:"M*& F,K",W% E??Z% E=<A <EEC<@Z
,0, a1"(*2".#- "# ,(L.-"2.50 2,(23 T.85#*& .1 I(L,5"J,#2*& N-0! << c0"## T% Y.5M6 F m% G**["#,# T G3 d#+"K"+8*& +"11,5,#M,- "#
M6.&.:0A Y,*5#"#:; ],J.50; *#+ S.:#"2".#; <==>; <?A @@QC@ZQ 5,*+"#: 2. -8JJ*5"n, ,(L.-"2.50 2,(2A eK"+,#M, 15.J ,0, 1"(*2".#
EP b*#,J*# ]; S*5L,#2,5 N R3 d#+"K"+8*& +"11,5,#M,- "# W.5["#: L*22,5#-3 T.85#*& .1 e+8M*2".#*& N-0M6.&.:0O <==<O ?@A @@CZZ
J,J.50 *#+ 5,*+"#:3 T.85#*& .1 X,5V*& Y,*5#"#: *#+ X,5V*&