Tải bản đầy đủ (.doc) (29 trang)

Đề tài thuyết trình " Thị trường chứng khoán " pptx

Bạn đang xem bản rút gọn của tài liệu. Xem và tải ngay bản đầy đủ của tài liệu tại đây (482.61 KB, 29 trang )

 





Giáo viên hướng dẫn :
Họ tên sinh viên :

 !   "#$"%&'()
*
 
+,+


 !"

#$%&%'()#*&+,#-$&
.#$%&%'(/#0123&+)#*&+,#-$&
45)6%7(/#0/128&+)#*&+,#-$&
.9:
.;&)*<=-/>&#)#?/@#$@AB
..;&)*<=-CD$/1E&#ADF&)#DG7&H
.;&)*<=-@#2I&+/#*)+%J-K0)#H
.H;&)*<=-65)6%7(#=&+#LJM
NOP
DG6Q&+<R&6SD/2)#-&T&,%&#/UP
.D&+)?@(V%/123&+6SD/2)#-)V&+)#W&+P
X-/>&#/#J&#,#-Y&)#-)$))#*&+,#-$&P
H4$&#+%$#-X/6Q&+)ZJK-J&#&+#%'@P
MX-(V%/123&++%W@#>&#@#Z/#[)#%'&)$))#>&#\$)#,%&#/U<](V^


H!_`a4bO^
H+DGc&/d))X&#/1J&#^
H.+DGc&/d))V&+ef&+^
H+DGc&/d))V&+,#J%^
HH+DGc&/d)/1D&++%J&g
HM+DGc&/d)/h@/1D&+g
MijOg
M1$%@#%UDg
M.k@#%UDl
M#*&+,#-$&@#$%\%&#<=)#*&+)#mCDno
POpO
P#=@#$/#=&#
P.#=6SD/2.
P$)/k)#*),%&#K-J&#/1c&/#0/123&+)#*&+,#-$&.
PH$)/k)#*))LA%c&CDJ&6U&/#0/123&+)#*&+,#-$&.
^qr`
^$)A-X%+%J-K0)#/1c&/#0/123&+)#*&+,#-$&
^.$)A-X%A'&#62s)\tKu&+/1-&++%J-K0)#H
^
^
#v&+)Q/(R)6$&+&#8<=)#m\R)#*&+,#-$&%'/J(^
#v&+)Q/(R)6$&+&#8^
.#m\R)#*&+,#-$&%'/J(^
.$)+%J%6-X&@#$//1%7&)ZJ%'/J(g
#v&+#X&)#UY&##28&+6U&\[@#$//1%7&)ZJ.^
HQ/\R+%Y%@#$@67&F&+)J-#%'DCDY#-X/6Q&+)ZJ.^
 !   "#$"%&'()
-
 
./

/01,2,3456.789:
*:;56.789:
 !"#$
#*&+,#-$&A=&#v&++%?G/3)L+%$w$)60&#\R<R&6SD/2<=&Lw$)&#h&
CDGT&6x%&s#JGCDGT&\y#vD<T/=%\Y&zeJ-+{(&#v&+6%TD,%'&<T/#D&#h@
/1-&+(Q/,#-Y&+/#3%+%J&&=-6L<=)L,#Y&;&+)#DG7&&#2s&+
1.2 Khái niệm th Trưng chng khoán
#0/123&+)#*&+,#-$&A=&I%K%|&1J#-X/6Q&++%J-K0)#z(DJe$&)$)A-X%
)#*&+,#-$&62s)/%U&#=&#ey%&#v&+6R%/2s&+,#$)&#JD/#}-CDG60&#)ZJ@#$@
ADh/
1.3 Đ#c đi%m th trướng chng khoán$
 =(V%/123&+6SD/2)#-)V&+)#W&++%W@)#DG7&/%U/,%'(\y#vD
/#=&#<R&6SD/2
 =,c&#K~&<R&/1[)/%U@67/=%/1s)$)K[$&@#$//1%7&,%&#/UCDR)
+%J
 =&I%)D&+)?@/#V&+/%&#•/1sCDY&AB,%&#/U<](V)€&+&#2CDY&
AB,%&#/U<](V
-<,9=56.789:
-*>'?!( @A B)BCD
#0/123&+)#*&+,#-$&)#>&#/#*)#JG)x&+•%A=y+%J-K0)#)#*&+,#-$&
A=&I%(DJe$&A-X%)#*&+,#-$&62s)&%c(GU/)L60J6%7(<=/#3%e%7D(DJe$&1‚
1'/z+%$)Y62s)w$)60&#/#}-#E&#/#*)6?D+%$#-5)6?DA'&#
 !   "#$"%&'()
E
 
#0/123&+)#*&+,#-$&@#%)#>&#/#*)#JG)x&+•%A=/#0/123&+A=&I%
(DJe$&)#*&+,#-$&ec&&+-=%y+%J-K0)#z,#V&+)L&+=G+%3&+#m#JG/#Z/u)
CDGU/60&#(=K-/#-Y/#Dh&+%vJ&+23%(DJ<=&+23%e$&
#0/123&+)#*&+,#-$&)#>&#/#*))L+%$/10&#2ƒeQ(5/„/#0/123&+)#*&+
,#-$&CDR)+%Jz)$)eQ@#h&/#0/123&+,#$)/#7#%'&\[6JKX&+)ZJ)$)+%J-K0)#

)L/#7A[J)#•&=&+#-$)ZJ/#0/123&+/h@/1D&+)€&+A=&#v&+#=&+#-$)L/#7
6$&#+%$)L)#?/A2s&+#I&\-<8%#=&+#-$)ZJ/#0/123&+,#$)zK-/>&#)L/k)#*)
)ZJ&L…6%TD6L)€&+)L&+#]J\[J&/-=&#JG1Z%1-z)I#Q%,%U(A3%A=,#$)&#JD
/1-&+)$)+%J-K0)#/1c&/#0/123&+
-->'?!(F) "#CGH
#0/123&+@#$/#=&##JG)x&+•%A=/#0/123&+\I)?@A=&I%)$))#*&+,#-$&
62s)@#$/#=&#AS&6SDey%)$)&#=@#$/#=&#62s)e$&)#-)$)&#=6SD/2
#0/123&+/#*)?@A=&I%+%J-K0)#)$))#*&+,#-$&6†62s)@#$/#=&#/1c&
/#0/123&+\I)?@‡Q@#h&/#0/123&+&=G,#V&+A=(/;&+&+D{&<R&(8%)#-&T&
,%&#/Uz&#2&+)L/#7#-X/6Q&+A%c&/u)z/X-1J,#Y&;&+/#J&#,#-Y&)#-)#*&+
,#-$&6†@#$/#=&#ƒ#0/123&+/#*)?@@#u)<u)#-#J%(u)6>)#)#>&#/#W)6ˆG
\[/X-<R&)#-)$)K-J&#&+#%'@z)#>&#@#Z<=/X-1J)$))V&+)u6SD/2)L,#Y
&;&+\%&#A3%)#-)$)&#=6SD/2
-E>'?!(B%I 'J(K$
#0/123&++%J-&+JGA=/#0/123&+(DJe$&)#*&+,#-$&/#}-+%$)ZJ&+=G
+%J-K0)#&#2&+<%')/#J&#/-$&<=)#DG7&+%J-)#*&+,#-$&\‰K%|&1J/%U@/#}-\JD
6L<=%&+=G/#}-CD%60&#
#0/123&+/2I&+AJ%A=/#0/123&+(DJe$&)#*&+,#-$&/#}-(Q/A-X/#s@
6{&+60&#\Š&z+%$)Y62s)/#-Y/#Dh&/1-&+&+=G+%J-K0)#&#2&+<%')/#J&#/-$&
<=)#DG7&+%J-)#*&+,#-$&\‰K%|&1J/1-&+(Q/&+=G,‹#X&&#?/60&#/1-&+/2I&+
AJ%
 !   "#$"%&'()
L
 
-L>'?!(MNMHO!PJ
#0/123&+/1$%@#%UDA=&I%(DJe$&)$)/1$%@#%UDA=/#0/123&++%J-K0)#<=
(DJe$&)$)/1$%@#%UD6†62s)@#$/#=&#z)$)/1$%@#%UD&=GeJ-+{()$)/1$%@#%UD
)V&+/Gz/1$%@#%UD6V/#0<=/1$%@#%UD)#>&#@#Z
#0/123&+)k@#%UDA=&I%(DJe$&)$))k@#%UDA=/#0/123&++%J-K0)#<=
(DJe$&)$)A-X%)k@#%UDzeJ-+{()k@#%UD/#23&+z)k@#%UD2D6†%

#0/123&+@#$%\%&#A=/#0/123&+@#$/#=&#<=(DJ6%e$&AX%)$))#*&+/Œ
/=%)#>&#,#$)&#2CDGT&(DJ)k@#%UDz)#*&+CDGT&z#s@6{&+CDGT&)#•&
#*QIMRBGC( $ "%&'S()
 !   "#$"%&'()
T
>&#)#?/@#$@AB
•D$/1E&#ADF&)#DG7&
9#2I&+#*)%J-r0)#
45)6%7(#=&+#LJ
)#>&#/#*)

@#$/#=&#
+%J-K0)#
+%J-&+JG
/2I&+AJ%
k9#%UD
1$%9#%UD
#0/123&+@#$%\%&#
 
E8UVW56.789:
E*MX?YMZ %(S 
#%)$)&#=6SD/2(DJ)#*&+,#-$&K-)$))V&+/G@#$/#=&#z\R/%T&&#=&
1•%)ZJ#•62s)62J<=-#-X/6Q&+\Y&wD?/,%&#K-J&#<=CDJ6L+L@@#S&(y1Q&+
\Y&wD?/w†#Q%#V&+CDJz#>&#@#Z<=)#>&#CDGT&y)$)60J@#2I&+
)€&+#DG6Q&+62s))$)&+D{&<R&)#-(u)6>)#\tKu&+<=6SD/2@#$//1%7&#X
/S&+,%&#/Uz@#u)<u)$)&#D)SD)#D&+)ZJw†#Q%
E-ABO "%&MZ %([
)D&+)?@)#-)V&+)#W&+(Q/(V%/123&+6SD/2A=&#(X&#<8%)$)
)I#Q%A[J)#•&@#-&+@#W$)A-X%)#*&+,#-$&/1c&/#0/123&+1?/,#$)&#JD<T
/>&#)#?/z/#3%#X&<=6Q1Z%1-z)#-@#Ž@)$)&#=6SD/2)L/#7A[J)#•&A-X%#=&+

#-$@#•#s@<8%,#Y&;&+z(u)/%cD<=\y/#>)#)ZJ(E&#
EE( @ JS(\()'S()
#3)L)$)&#=6SD/2)L/#7)#DG7&6k%)$))#*&+,#-$&#•\y#vD
/#=&#/%T&(5/#-5))$)A-X%)#*&+,#-$&,#$),#%#•(DR&#Y&;&+/#J&#,#-Y&
A=(Q//1-&+&#v&+65)/>&##?@K~&)ZJ)#*&+,#-$&6R%<8%&+23%6SD/24FGA=
GUD/R)#-/#?G/>&#A%&##-X/zJ&/-=&)ZJ<R&6SD/2#-X/6Q&+)=&+&;&+
6Q&+<=)L#%'DCDY/#E/>&#/#J&#,#-Y&)ZJ)$))#*&+,#-$&+%J-K0)#/1c&/#0
/123&+)=&+)J-
EL))( MX]JK(J^B
#V&+CDJ)#*&+,#-$&z#-X/6Q&+)ZJ)$)K-J&#&+#%'@62s)@#Y&$&#(Q/
)$)#/k&+#s@<=)#>&#w$)z+%W@)#-<%')6$&#+%$<=\-\$&##-X/6Q&+)ZJK-J&#
&+#%'@62s)&#J&#)#L&+<=/#Dh&/%'&z/Œ6L)€&+/X-1J(Q/(V%/123&+)X&#
/1J&#A=&#(X&#&#f(&F&+)J-#%'DCDY\tKu&+<R&z,>)#/#>)#$@Ku&+)V&+&+#'
(8%z)Y%/%U&\Y&@#ˆ(
 !   "#$"%&'()
_
 
ET(O "%&[B@B] `^)@Q)S ?a
O
$))#me$-)ZJ@#Y&$&#6Q&+/#$%)ZJ&T&,%&#/U(Q/)$)#&#XG
eŽ&<=)#>&#w$)%$)$))#*&+,#-$&/;&+Ac&)#-/#?G6SD/26J&+(y1Q&+z&T&
,%&#/U/;&+/12y&+…&+2s)AX%+%$)#*&+,#-$&+%Y(\‰)#-/#?G)$)K?D#%'D/%cD
)[))ZJ&T&,%&#/UE/#UzA=(Q/)V&+)uCDJ&/1•&++%W@#>&#@#Z/#[)
#%'&)$))#>&#\$)#,%&#/U<](V#V&+CDJz#>&#@#Z)L/#7(DJ<=e$&
/1$%@#%UD#>&#@#Z67/X-1J&+D{&/#De•6d@/#F(#u/&+F&\$)#<=CDY&ABAX(
@#$/+-=%1Jz#>&#@#Z)€&+)L/#7\tKu&+(Q/\R)#>&#\$)#ze%'&@#$@/$)
6Q&+<=-&#f(60&##28&+6SD/26Y(eY-)#-\[@#$//1%7&)F&6R%)ZJ&T&
,%&#/U
L3bcd9=eVW56.789:
L*f g "J

#}-&+DGc&/d)&=Gz+%$)Y/1c&@#Y&$&#CDJ&#')D&+)SD<T)#*&+
,#-$&<=/#7#%'&/2I&+CDJ&)X&#/1J&#+%vJ)$))V&+/G1c&/#0/123&+\I)?@z
)$)&#=@#$/#=&#)X&#/1J&#<8%&#JD67e$&)#*&+,#-$&)ZJ(E&#)#-)$)&#=
6SD/2z)$)&#=6SD/262s)/[K-A[J)#•&)$))#*&+,#-$&/#}-)$)(u)/%cD)ZJ
(E&#1c&/#0/123&+/#*)?@z)$)&#=6SD/2)€&+)X&#/1J&#/[K-67/E(,%U()#-
(E&#(Q/As%&#Dh&)J-&#?/z<=+%$)Y62s)#E&#/#=&#/#}-@#2I&+/#*)6?D+%$
L-f ghi
V&+ef&+)L&+#]JA=(•%&+23%/#J(+%J/#0/123&+6TD@#Y%/DF&/#Z
&#v&+CD%60&#)#D&+z62s)eE&#6•&+/1-&+<%'))#%J\‘/#V&+/%&<=/1-&+<%')
+$&#)#0D)$)#E&#/#*)wt@#X/&UD<%@#X(<=-&#v&+CD%60&#6L
LEf gSJ
#*&+,#-$&A=A-X%#=&+#-$/1ŒD/2s&+&c&@#Y%62s)wFGK[&+/1c&
)I\y#'/#R&+)V&+eR/#V&+/%&/R/#}-ADh/60&#z)$)/k)#*)@#$/#=&#)L&+#]J
<u@#Y%)D&+)?@/#V&+/%&6SG6Z/#}-)#U6Q/#23&+wDGc&<=6Q/wD?//#V&+CDJ
)$)@#2I&+/%'&/#V&+/%&6X%)#W&+zy+%J-K0)#z)$))V&+/G)#*&+,#-$&<=)$)
/k)#*))LA%c&CDJ&
 !   "#$"%&'()
j
 
LLf g "J
+DGc&/d)&=G)L&+#]JA=)$)+%J-K0)#)#*&+,#-$&62s)/#[)#%'&/#V&+
CDJ/k)#*)/1D&++%J&A=)$))V&+/G)#*&+,#-$&1c&/#0/123&+\I)?@z)$)&#=
6SD/2,#V&+(DJ/1[)/%U@)ZJ&#=@#$/#=&#(=(DJ/Œ)$)&#=eY-A†&#@#$/
#=&#1c&/#0/123&+/#*)?@z/#V&+CDJ)$)&+#%'@<u(V%+%8%z,%&#K-J&#z)$)
)V&+/G)#*&+,#-$&(DJze$&)#*&+,#-$&+%W@)$),#$)##=&+z#-5),U/&R%)$)
,#$)##=&+<8%&#JDCDJ<%')/#[)#%'&)$)+%J-K0)#(DJe$&)#*&+,#-$&/1c&/=%
,#-Y&)ZJ(E&#
LTf g kB "
$)+%J-K0)#)#*&+,#-$&)#mK%|&1J/1c&\y+%J-K0)#<=/1c&/#0/123&+
K28%\[,%7(/1J+%$(\$/)ZJ)ICDJ&CDY&AB&#=&28)<=)$)/k)#*)/[

CDY&
TlWVW56.789:
T*")B
Trái phiếu là giấy t có giá xác đnh số vốn đầu tư và xác nhận quyền đòi nợ
bao gồm những điều kiện và thu nhập trong một khoảng thi gian nào đó và có khả
năng chuy%n nhượng.
Œ,#$%&%'(/1c&/J/#?G/1$%@#%UD)L65)6%7(A=)L/#D&#h@k&60&#z)L
,#Y&;&+)#DG7&&#2s&+z)L/#3%+%J&6$-#X&4{&+/#3%/1$%)#Z,#V&+)LCDGT&
/#J(+%JeSD)tz*&+)t<=-Q%6{&+CDY&/10#2&+/1$%@#%UD6}(AX%)#-/1$%
)#ZCDGT&62s)2D/%c&/1-&+@#F&)#%JAs%&#Dh&)€&+&#2/#J&#AB/=%\Y&,#%)V&+
/G@#$\Y&
%1$%@#%UD)ZJ#>&#@#Z
4$@*&+&#D)SD)#%/%cD)ZJ#>&#@#Zz)#>&#@#Z@#$/#=&#/1$%@#%UD67
#DG6Q&+/%T&&#=&1•%/1-&+KF&<=)$)/k)#*),%&#/Uzw†#Q%#>&#@#ZADV&
62s))-%A=#=@#$/#=&#)LDG/>&&#?//1c&/#0/123&+…E<hGz1$%@#%UD#>&#
@#Z62s))-%A=A-X%)#*&+,#-$&)L>/1Z%1-&#?/
 !   "#$"%&'()
m
 
%&'()*+,-!./$
=&#v&+/1$%@#%UDK-K-J&#&+#%'@&#=&28)z)V&+/G)k@#S&<=)V&+/G
/1$)#&#%'(#vD#X&z&+F&#=&+<=)$)/k)#*)/=%)#>&#@#$/#=&#67/;&+<R&#-X/
6Q&+1$%@#%UDK-J&#&+#%'@)L&#%TDA-X%<=1?/6JKX&+
T-nB
Cổ phiếu là những giấy t có giá xác đnh số vốn đầu tư và nó xác nhận
quyền sở hữu về tài sản và những điều kiện về thu nhập trong một khoảng thi gian
nào đó và có khả năng chuy%n nhượng. Có hai loại cổ phiếu là cổ phiếu thưng và
cổ phiếu ưu đãi
%&0()*.12!
k@#%UD/#23&+A=)k@#%UD,#V&+)L/#3%+%J&6$-#X&z,#V&+)L/#D&#h@

k&60&#(=/#D&#h@)ZJ&L@#u/#DQ)<=-,U/CDY\Y&wD?/,%&#K-J&##JG)#>&#
\$)#)#%/1Y)k/*))ZJ)V&+/Gk@#%UD/#23&+)L,#Y&;&+)#DG7&&#2s&+K|
K=&++23%&d(+%v)k@#%UD/#23&+)LCDGT&/#J(+%JeSD)t<=-Q%6{&+CDY&
/10&#2&+,#V&+62s)2D/%c&/1-&+@#F&)#%JAs%&#Dh&)€&+&#2/#J&#AB/=%\Y&
,#%)V&+/G@#$\Y&+-=%1J)k@#%UD/#23&+)x&6}(AX%CDGT&65/(DJ)k@#%UD
(8%)#-)$))k6V&+
%&&0()*1*34
k@#%UD2D6†%A=A-X%)k@#%UD)L\[2D/%c&#I&)k@#%UD/#23&+/1-&+<%')
@#F&)#%JAs%&#Dh&)€&+&#2)#%/1Y)k/*)<=/#J&#AB/=%\Y&,#%)V&+/G@#$\Y&
k@#%UD2D6†%)€&+&#2)k@#%UD/#23&+A=&L,#V&+)L/#3%+%J&6$-#X&
L/{&/X%y\[/{&/X%)ZJ)V&+/GL)€&+)L,#Y&;&+)#DG7&&#2s&+&#2&+@#Y%
/#c((Q/\R6%TD,%'&&#?/60&#k/*))ZJ)k@#%UD2D6†%A~&)k@#%UD/#23&+
6TD,#V&+@#Y%A=&s)ZJ)V&+/GK-6L,#V&+)L/#D&#h@k&60&#/1-&+6%TD,%'&
eE&#/#23&+<=&L)L/#762s)(DJAX%ey%&#=@#$/#=&#
 !   "#$"%&'()
o
 
k@#%UD2D6†%)x&)L(Q/\R6%TD,#-Y&,’(/#}-#*&#?/z)k@#%UD2D
6†%)L/>&#)#?//#J(K[/1-&+@#F&)#%JAs%&#Dh&,#%)V&+/GA=(;&)LA†%z<2s/
(Q/(*)&=-6L#*#J%z)k@#%UD2D6†%)L/>&#)#?/e“@#%UD1-&+6%TD,%'&
eE&#/#23&+z)k@#%UD2D6†%,#V&+)L/>&#)#?/e“@#%UD#2&+,#%)V&+/GA=(;&
/#DJA•z)k@#%UD2D6†%\‰)L/>&#)#?/e“@#%UD#*eJz)k@#%UD2D6†%)L/>&#
)#?//>)#ADn#JG,#V&+/>)#ADn/*)A=K-)V+&/GA=(;&,#V&+#%'DCDYz)V&+/G\‰
,#V&+/1Y)k/*)#2&+,#%)V&+/GA=(;&)LA†%)V&+/G)L/#7/1Y)k/*))#-
&#v&+&;(e0/#DJA•/128)6L#-5),#V&+/1Y)k/*))ZJ&#v&+&;()#2J/1Y62s)
TE'S()B)Q?!'pFq
%5 !"#(6$
Chng khoán phái sinhA=&#v&+)#*&+,#-$&62s)@#$/#=&#/1c&)I\y
&#v&+)#*&+,#-$&6†)L&#2)k@#%UDz/1$%@#%UD
 !"#(6!7$

Quyền mua cổ phầnA=)#*&+,#-$&K-)V&+/G)k@#S&@#$/#=&#,’(/#}-
6s/@#$/#=&#)k@#%UDek\D&+&#f(eY-6Y()#-)k6V&+#%'&#vDCDGT&(DJ)k
@#%UD(8%/#}-&#v&+6%TD,%'&6†62s)w$)60&#”(DJ(Q/\RA2s&+)k@#S&(8%
/2I&+*&+<8%/•A')k@#S&#%'&)L)ZJ#•/1-&+)V&+/Gz/X%(Q/(*)+%$w$)60&#
/#?@#I&(*)+%$)#=-(3%1J)V&+)#W&+<=/1-&+(Q//#3%#X&&#?/60&#–
Chng quyềnA=)#*&+,#-$&)#-@#Ž@&+23%\y#vD62s)CDGT&(DJ(Q/
\RA2s&+w$)60&#(Q/A-X%)#*&+,#-$&,#$)”/#23&+A=)k@#%UD/#23&+–<8%(Q/
(*)+%$w$)60&#<=/1-&+(Q//#3%#X&&#?/60&#
#*&+CDGT&/#23&+62s)@#$/#=&#,#%/k)#*)AX%)V&+/Gz#-5),#%)V&+
/G(DR&,#DGU&,#>)#)$)&#=6SD/2(DJ)$)/1$%@#%UD#-5))k@#%UD2D6†%)L
&#v&+6%TD,%'&,Ž(/#Dh&As%
 !   "#$"%&'()
*r
 
Quyền lựa chọn:A=CDGT&62s)+#%/1-&+#s@6{&+)#-@#Ž@&+23%&d(+%v
&L62s)(DJ”&UDA=CDGT&)#•&(DJ–#-5)e$&”&UDA=CDGT&)#•&e$&–(Q/\R
A2s&+)#*&+,#-$&w$)60&#<8%(Q/(*)+%$w$)60&#<=/1-&+(Q//#3%+%J&&#?/
60&#
Hợp đồng tương lai:A=)J(,U/(DJ#-5)e$&)$)A-X%)#*&+,#-$&z&#L(
)#*&+,#-$&#-5))#m\R)#*&+,#-$&&#?/60&#<8%(Q/\RA2s&+<=(*)+%$&#?/
60&#<=-&+=Gw$)60&#/128)/1-&+/2I&+AJ%
%5& !89*:$
#*&+)#mCDn6SD/2A=)#*&+,#-$&w$)&#h&CDGT&\y#vD)ZJ&#=6SD/2
6R%<8%@#S&<R&+L@)ZJCDn6X%)#W&+•Dn6X%)#W&+•Dn(y”CDn(DJAX%
)#*&+)#mK-CDn@#$/#=&#–<=CDn6L&+”CDn,#V&+(DJAX%)$))#*&+)#mCDn–
•DGT&)ZJ&#=6SD/2/#J(+%JCDn#2y&+As%/Œ#-X/6Q&+)ZJCDn#-5)/Œ
/=%\Y&62s))#%J/2I&+*&+<8%/•A'+L@<R&_cD)SD)V&+/GCDY&ABCDn#-5)
&+F&#=&++%$(\$/(DJAX%)#*&+)#mCDn(y#J(K[CDGU/60&#/X%6X%#Q%&#=
6SD/2#DG7&&#2s&+)#*&+)#mCDn
_:VsVW56.789:

$)/k)#*)<=)$&#F&/#J(+%J/#0/123&+)#*&+,#-$&)L/#762s))#%J
/#=&#)$)&#L(\JD&#=@#$/#=&#z&#=6SD/2<=)$)/k)#*))LA%c&CDJ&6U&
)#*&+,#-$&
_*!B) !
#=@#$/#=&#A=)$)/k)#*)/#[)#%'&#DG6Q&+<R&/#V&+CDJ/#0/123&+
)#*&+,#-$&#=@#$/#=&#A=&+23%)D&+)?@)$))#*&+,#-$&#=&+#-$)ZJ/#0
/123&+)#*&+,#-$&
#>&#@#Z<=)#>&#CDGT&60J@#2I&+A=&#=@#$/#=&#)$)/1$%@#%UD#>&#
@#Z<=/1$%@#%UD60J@#2I&+
V&+/GA=&#=@#$/#=&#)$))k@#%UD<=/1$%@#%UD)V&+/G
$)/k)#*)/=%)#>&#A=&#=@#$/#=&#)$))V&+)u/=%)#>&#&#2)$)/1$%
@#%UDz)#*&+)#m/#u#2y&+@#u)<u)#-#-X/6Q&+)ZJ#•
 !   "#$"%&'()
**
 
_-!MZ %
#=6SD/2A=&#v&+&+23%/#[)\[(DJ<=e$&)#*&+,#-$&/1c&/#0/123&+
)#*&+,#-$&#=6SD/2)L/#762s))#%J/#=&#.A-X%&#=6SD/2)$&#F&<=&#=
6SD/2)L/k)#*)
$)&#=6SD/2)$&#F&A=&#v&+&+23%)L<R&&#=&1•%/X(/#3%z/#J(+%J
(DJe$&/1c&/#0/123&+)#*&+,#-$&<8%(u)6>)#/E(,%U(As%&#Dh&
$)&#=6SD/2)L/k)#*)A=)$)/k)#*)/#23&+wDGc&(DJe$&)#*&+
,#-$&<8%\RA2s&+A8&/1c&/#0/123&+$)/k)#*)&=G)L/#7A=)V&+/G6SD/2z
)V&+/GeY-#%7(zCDn6SD/2z)V&+/G/=%)#>&#z)V&+/G)#-/#Dc/=%)#>&#z&+F&
#=&+/#2I&+(X%<=)$))V&+/G)#*&+,#-$&
_E) n'SK(J "f $ "%&'S()
V&+/G)#*&+,#-$&A=/k)#*)/=%)#>&#/1D&++%J&/#[)#%'&(Q/
#-5)(Q/\R&+#%'@<u,%&#K-J&#)#*&+,#-$&eJ-+{((V%+%8%z/[K-J&#zeY-
A†&#@#$/#=&#zA2D,B)#*&+,#-$&
+F&#=&+/#2I&+(X%&+F&#=&+/#2I&+(X%)L/#76SD/2,%&#K-J&#

)#*&+,#-$&<=/#[)#%'&&+#%'@<ueY-A†&#@#$/#=&#
_L) n'PCfFJM $ "%&'S()
ICDJ&CDY&AB#=&28)!‡/#[)#%'&)#*)&;&+CDY&AB&#=
&28)<T)#*&+,#-$&<=/#0/123&+)#*&+,#-$&
y+%J-K0)#)#*&+,#-$&y+%J-K0)#)#*&+,#-$&A=)ICDJ&/#[)#%'&
<h&#=&#/#0/123&+<=eJ&#=&#&#v&+CDGU/60&#6%TD)#m&#)$)#-X/6Q&++%J-
K0)#)#*&+,#-$&/1c&y@#•#s@<8%)$)CDG60&#)ZJADh/@#$@<=!‡
%'@#Q%)$)&#=,%&#K-J&#)#*&+,#-$&
k)#*)A2D,B<=/#J&#/-$&e•/1Œ)#*&+,#-$&
V&+/GK0)#<u($G/>&#)#*&+,#-$&
$)/k)#*)/=%/1s)#*&+,#-$&A=/k)#*)@#u/1sz@#u)<u)$)+%J-K0)#
)#*&+,#-$&
 !   "#$"%&'()
*-
 
V&+/G6$&#+%$#'\R/>&&#%'(A=)V&+/G)#DGc&)D&+)?@K0)#<u6$&#
+%$&;&+A[)/#J&#/-$&)$),#-Y&<R&+R)<=A†%6W&+/#3%#X&<=/#}-&#v&+6%TD
,#-Y&6†)J(,U/)ZJ)V&+/G@#$/#=&#6R%<8%(Q/6s/@#$/#=&#)u/#7
j/tW956c56.789:
j*)C(J(K$ "f $ "%&'S()
#-6U&&JGz)L&;(A-X%#E&#+%J-K0)#6†<=6J&+62s)\tKu&+@#ke%U&
/1c&/#0/123&+)#*&+,#-$&)$)&28)
;,#<=>?!.@A.6BC
#}-A-X%#E&#+%J-K0)#&=Gz&#=6SD/262s)GcD)SD@#Y%/#J&#/-$&6Z\R
)#*&+,#-$&(DJ62s)ef&+&+D{&/%T&1%c&+)L<=-&+JG#-5)/128)ngày thanh
toán các giao dch. 4R%<8%@#S&A8&)$)+%J-K0)#z&+=G/#J&#/-$&1I%<=-.M&+=G
A=(<%')\JD&+=G+%J-K0)#
;&,#<=>?!!*7.@D,/1E
#$)<8%A-X%#E&#+%J-K0)#ef&+/%T&(5/\Š&)Lz/1-&+A-X%#E&#+%J-K0)#
ef&+&+D{&/%T&<JG(2s&”+%J-K0)#ef&+/>&Ku&+–z67(DJ(Q/\RA2s&+)#*&+

,#-$&&#?/60&#z&#=6SD/2)#m@#Y%65/)•)/128)(Q/@#S&/%T&/R%/#%7D/#}-(Q/
/•A',BCDned/eDQ)\-<8%/k&+/10+%$/>&#/#}-+%$/#0/123&+)ZJ)$))#*&+,#-$&
60&#(DJ”Dh/)$)&28)CDG60&#/•A'&=GA=oMo—–<=<JG/Œ)$))V&+/G
)#*&+,#-$&@#S&/%T&)x&AX%
#}-A-X%#E&#+%J-K0)#&=Gz/?/)Y)$))#*&+,#-$&62s)(DJef&+&+D{&
/%T&<JG(2s&6TD@#Y%62s)+%v/X%)$))V&+/G)#*&+,#-$&<=62s)6;&+,BK28%
/c&)ZJ)$))V&+/G)#*&+,#-$&”)€&++•%A=\treet name–ey%<E)#>&#&#v&+)#*&+
,#-$&&=GAX%62s)\tKu&+&#2<h//#U)#?@5)K•A-X%#E&#+%J-K0)#ef&+/>&
Ku&+)#-@#Ž@&#=6SD/2)L/#7(DJ&#%TD#I&,#Y&;&+#%'&)Lz&+#]JA=/X-1J
(Q/6x&eˆG/=%)#>&#z&#2&+A-X%#E&#+%J-K0)#(=G)L,n/#Dh/,#$@#*)/X@<=
,#V&+@#Y%A=A-X%#E&#/#>)##s@<8%(•%&#=6SD/2T(5/,n/#Dh/z&UD/#0+%$
)ZJ)#*&+,#-$&\u/+%Y(&#J&#<=/•A'/%T&,BCDn\-<8%/k&++%$/10)#*&+,#-$&
/#?@\-<8%/•A',BCDned/eDQ)z)V&+/G)#*&+,#-$&\‰GcD)SD&#=6SD/2/#c(
/%T&<=/=%,#-Y&67duy trì tỷ lệ ký quỹ tối thi%uz&UD&#=6SD/265//#c(/%T&<=-/=%
,#-Y&\‰e$&\R)k@#%UD6L<=/%T&/#D62s)67#-=&/1Y,#-Y&<JG&=G
;5F"G!
-X%#E&#+%J-K0)#&=G)#-@#Ž@&#=6SD/2e$&)$))#*&+,#-$&,#V&+
/#DQ)\y#vD)ZJ(E&#”)#*&+,#-$&<JG(2s&–y/#3%6%7(e$&<8%,‹<•&+A=\‰
(DJAX%)$))#*&+,#-$&6Ly+%$/#?@#I&/1-&+(Q//#3%6%7(&=-6L/1-&+/2I&+
AJ%67#-=&/1YAX%)#-&+23%\y#vD
;H,#<="G
%J-K0)#,#R%”+%J-K0)#AVA8&–A=+%J-K0)#+d&A%T&<8%#-X/6Q&+6SD/2
)#*&+,#-$&)ZJ)$)/k)#*)6SD/24LA=+%J-K0)#<8%\RA2s&+A8&(Q/A-X%
)#*&+,#-$&&#?/60&#
 !   "#$"%&'()
*E
 
;%,#<=>?!1I!.'J
$)&#=6SD/2A=)$)/k)#*))€&+)L/#7(DJze$&6{&+/#3%(Q/\RA2s&+
A8&)$))k@#%UD)ZJ)$))V&+/G,#$)&#JD/1-&+(Q/,n/#Dh/+%J-K0)#,#$)62s)

+•%A=giao dch bằng chương trình4LA=A-X%+%J-K0)#\tKu&+)$))#2I&+/1E&#<%
/>&#@#*)/X@z)L/#71JCDGU/60&#(DJe$&(Q/)$)#/[6Q&+
;&K#LK31E6M<N!.'#!!,#<=
%')(DJe$&)#*&+,#-$&/1c&)$)/#0/123&+)#*&+,#-$&67K[J<=-)$)
&#=(V%+%8%<=&#=,%&#K-J&#)#*&+,#-$&47/#[)#%'&<%')+%J-K0)#z&#=6SD
/2@#Y%)D&+)?@)#-&#=(V%+%8%&#v&+/#V&+/%&&#?/60&#Q//1-&+&#v&+
/#V&+\R(=&#=6SD/2@#Y%)D&+)?@)#-&#=(V%+%8%A=)$)A-X%A'&#(DJe$&
1c&/#[)/Uz(5)K•)L1?/&#%TDA-X%A'&#62s)\tKu&+/1c&/#0/123&+)#*&+
,#-$&)$)&28)&#v&+A'&#/#0/123&+zA'&#+%8%#X&zA'&#KŒ&+<~&A=A-X%A'&#)I
eY&62s)$@Ku&+@#ke%U&/X%)$)\y+%J-K0)#)#*&+,#-$&
;&O.=.'12!
'&#/#0/123&+”A'&#(DJe$&/#}-+%$/#0/123&+–A=A'&#)#m/#0)#-&#=
(V%+%8%(DJ#-5)e$&(Q/)#*&+,#-$&/#}-+%$/R/&#?/)L/#7)L62s)/1c&/#0
/123&+”+%$)J-&#?/6R%<8%A'&#e$&#-X)+%$/#?@&#?/6R%<8%A'&#(DJ–
'&#/#0/123&+A=A-X%A'&#@#ke%U&&#?/62s)$@Ku&+/1-&+(DJe$&
)#*&+,#-$&SD#U/)$)A'&#/#[)#%'&/1c&/#0/123&+)#*&+,#-$&A=A'&#/#0
/123&+
;&&O!PL
'&#+%8%#X&A=)#m&#=(V%+%8%,#V&+62s)(DJ(Q/)#*&+,#-$&CD$
(*)+%$?&60&#/128)#-5)e$&(Q/)#*&+,#-$&/#?@#I&(*)+%$6†)#m60&#
'&#+%8%#X&A=(Q/A'&#)L6%TD,%'&,#%&#h&62s)A'&#&=G&+23%(V%+%8%@#Y%
(DJ<=e$&(Q/\RA2s&+)#*&+,#-$&&#?/60&#/#}-+%$6†62s)?&60&##-5)/R/
#I&
Q/A'&#(DJ)L+%8%#X&)#m)L/#762s)&+23%(V%+%8%/#[)#%'&y(*)
+%$6†62s)?&60&##-5)/#?@#I&+2s)AX%z(Q/A'&#e$&)L+%8%#X&)#m62s)
/#[)#%'&y(*)+%$6†62s)?&60&##-5)y(*)+%$)J-#I&#%/#[)#%'&A'&#
&=Gz/1-&+(•%/1D3&+#s@z&+23%(V%+%8%)L/1$)#&#%'(/E(,%U(+%$/R/#I&\-
<8%+%$62s)?&60&#)#-,#$)##=&+)ZJ(E&#
;&5O<Q!
Q/A-X%A'&#)L6%TD,%'&,#$)A=A'&#KŒ&+'&#KŒ&+A=A'&#)#m)#-

&+23%(V%+%8%,#V&+62s)/#[)#%'&<%')(DJe$&)#-6U&,#%+%$/#0/123&+Ac&
wDR&+@#•#s@<8%+%$6†?&60&#L#J%A-X%A'&#KŒ&+(DJ,#%+%$)#2JAc&6U&
+%$?&60&#<=A'&#KŒ&+e$&,#%+%$)#2J/u/wDR&+/8%(*)?&60&#
 !   "#$"%&'()
*L
 
Lệnh dừng mua ,#%+%$)#2J6U&(*)?&60&#)#m60&#1f&+A'&#\‰,#V&+
62s)/#[)#%'&)#-6U&,#%+%$/#0/123&+Ac&/8%#-5))J-#I&(*)+%$6†62s)?&
60&#+2s)AX%zlệnh dừng bán ,#%+%$)#2J/u/wDR&+/8%(*)?&60&##-5)/#?@
#I&
#2<hGz<TeY&)#?/z)Y#J%A-X%A'&#KŒ&+6TDA=A-X%A'&#/#0/123&+)L
6%TD,%'&4LA=A-X%A'&#(DJe$&/#}-/#3%+%$62s)/X(/#3%#-†&/#[)#%'&'&#
&=G)#m)L#%'DA[)/#[)#%'&,#%+%$)#*&+,#-$&/12s/6U&#-5)<2s/CDJ(Q/(*)
+%$?&60&#Q/,#%+%$?&60&#/1-&+A'&#KŒ&+62s)/#-Y(†&zA'&#KŒ&+/1y
/#=&#A'&#/#0/123&+
; 5*.'J!,#<=
128),#%/#[)#%'&+%J-K0)#z&#=6SD/2@#Y%(y(Q//=%,#-Y&/X%)V&+/G
)#*&+,#-$&JD,#%6†)L/=%,#-Y&<=6†A2D,B/%T&#-5))#*&+,#-$&<=-/=%
,#-Y&z&#=6SD/2)L/#765/A'&#(DJe$&/#}-&#%TD@#2I&+/#*),#$)&#JD
9#2I&+/#*))k6%7&&#?/)LA‰A=/1[)/%U@6U&)V&+/G)#*&+,#-$&6765/A'&#
•&+<8%&#v&+/%U&eQ)ZJ,n/#Dh/zA'&#)L/#762s)65//#V&+CDJ6%'&/#-X%zCDJ
#'/#R&+($G<%/>&#)$&#F&<=CDJ(X&+%&/}1&}/5)K•A'&#)L/#762s)/#[)
#%'&/#V&+CDJ&#%TD@#2I&+/#*),#$)&#JDz)#D/1E&#/#[)(Q/A'&#+%J-K0)#y
)$)#'/#R&++%J-K0)#6TD/2I&+/[&#JD
?/)Y)$)A'&#62s)/#[)#%'&/1c&)I\y+%J-K0)#@#Y%62s)/#J&#/-$&
/1-&+/k&+&&+=G&#?/60&#_cD)SD&=G/#23&+62s)+•%A=˜&z/*)A=&+=G+%J-
K0)#”–)Q&+/#c(&&+=GD‹/#DQ)<=-\[@#$//1%7&)ZJ#'/#R&++%J-K0)#(=&
)L/#7/#JG6k%,#$)&#JD/1-&+/#0/123&+)#*&+,#-$&)ZJ)$)&28)1-&+,#%/#0
/123&+)#*&+,#-$&{&+V&+$@Ku&+#'/#R&+/#J&#/-$&˜./#Enz4=%
-J&z#$%J&\tKu&+#'/#R&+˜&z&+23%(DJ@#Y%)#DG7&/%T&(DJ)#*&+

,#-$&6U&)$))V&+/G)#*&+,#-$&<=)V&+/G)#*&+,#-$&@#u)<u&+23%e$&
)#DG7&/%T&e$&)#*&+,#-$&<=-/=%,#-Y&&+23%+%J-)#*&+,#-$&$)/#V&+/%&
+%J-K0)#)€&+62s)/#V&+e$-/8%)$))V&+/G/#J&#/-$&e•/1Œ
 !   "#$"%&'()
*T
 
#-,X "# `^OX C^OJh)FJ)^ YJ(K$
 !   "#$"%&'()
*_
Nhà đầu tư
Công ty môi giới
Máy điện toán của
Công ty môi giới
Thị trường OTCSở giao dịch
chứng
khoán quốc
gia
Sở giao dịch
chứng
khoán quốc
tế
Khớp
lệnh
điện tử
Nhân
viên
kinh
doanh
Khớp
lệnh

điện tử
Khớp
lệnh
điện tử
Nhân
viên
kinh
doanh
Nhân
viên
kinh
doanh
 
./


*uX OYM)v?!pQY'S()^ JO 
R!S.G3!P$
+=G^llg#>&#@#Z6†,B+#060&#\RHg™9eJ&#=&#<T)#*&+
,#-$&<=)#>&#/#*),#J%\%&#)#-#0/123&+)#*&+,#-$&%'/J(
•&+&+=Gz#>&#@#Z)€&+,BCDGU/60&#/#=&#Ah@1D&+/F(%J-K0)#
#*&+,#-$&65//X%9<==Q%%'))#Dˆ&e0)#-/#[)1J6†K-
!•‡J&#*&+,#-$&%'/J(1J63%ef&++#060&#^M™9&+=G.gllP
1D&+/F(%J-K0)##*&+,#-$&9”r9–62s)
/#=&#Ah@/#}-•DGU/60&#\R.^™llg™•4+&+=G^llg<=)#>&#/#*)6%
<=-#-X/6Q&+/#[)#%'&@#%c&+%J-K0)#6SD/%c&<=-&+=G.g^.ooo
1D&+/F(%J-K0)#)#*&+,#-$&”r–=Q%6†)#>&#/#*))#=-
63%<=-&+=Gg™™.ooM#$)<8%r9”<R&A=&I%&%c(GU/<=+%J-
K0)#)#*&+,#-$&)ZJ)$))V&+/GA8&–zr=Q%\‰A=ƒ\F&)#I%„)#-)$)
r&#“<=<ŒJ”<8%<R&6%TDA'/ŒM6U&o/•6{&+–

*-pQY'S()^ JO
86GT<UV
&K}wA=,B#%'D)ZJ)#m\R)#*&+,#-$&%'/J(&K}wwFG
K[&+);&)*<=-+%$/10/#0/123&+)ZJ/?/)Y)$))k@#%UD62s)&%c(GU/8%#'
/#R&+)#m\R&=Gz&#=6SD/2)L/#76$&#+%$<=@#F&/>)#/#0/123&+(Q/)$)#/k&+
CD$/
#m\R&K}w\-\$&#+%$/10/#0/123&+#%'&#=&#<8%+%$/10/#0/123&+)I
\y<=-&+=G+R).g^.oooz,#%/#0/123&+)#*&+,#-$&)#>&#/#*)6%<=-#-X/
6Q&+
%$/10/#0/123&+)I\y/1-&+)V&+/#*)/>&#)#m\R62s)6%TD)#m&#/1-&+)$)
/123&+#s@&#2&%c(GU/(8%z#D•&%c(GU/<=)$)/123&+#s@)L/#JG6k%<T<R&
&%c(GU/
V&+/#*)/>&#)#m\R&K}w
#m\R&K}wš”%$/10/#0/123&+#%'&#=&#™%$/10/#0/123&+)I\y–w
oo
 !   "#$"%&'()
*j
 
-5)#m\Rr›œ
1-&+6L
W.$%$/#0/123&+#%'&#=&#)ZJ)k@#%UD%
X.$RA2s&+&%c(GU/#%'&#=&#)ZJ)k@#%UD%
WY$%$/#0/123&+<=-&+=G+R))ZJ)k@#%UD%
XYRA2s&+&%c(GU/<=-&+=G+R))ZJ)k@#%UD%
#EwMRhMXpQYKxy >O-rrrM-r*r
-)JM(B)  "H]J^ JO
-*JM(-rrrz-rrT$,3#L3Z*+,.=.'12! !"#
[1J63%)ZJ/#0/123&+)#*&+,#-$&%'/J(62s)6$&#K?Def&+<%')
62J  <=-  <h&  #=&#  1D&+  /F(  +%J-  K0)#  )#*&+  ,#-$&  9{  #>  %&#  &+=G
.o™o^™.ooo<=/#[)#%'&@#%c&+%J-K0)#6SD/%c&<=-&+=G.g™o^™.ooo/#3%6%7(

6Lz)#m)L.K-J&#&+#%'@&%c(GU/.A-X%)k@#%UD”››<=–<8%\R<R&.^o/•
6{&+<=(Q/\R>//1$%@#%UD#>&#@#Z62s)&%c(GU/+%J-K0)#
 !   "#$"%&'()
*m
 
Œ6L)#-6U&.ooMz/#0/123&+,#V&+)Le%U&6Q&+A8&zA-X%/1Œ)I&\R/<=-
&;(.oo”)#m\R%&K}w)J-&#?/6X/M^oH6%7(\JDP/#$&+6SD&;(&#2&+
)#m/1-&+<x&+)#2J6SGH/#$&+z/Œ/#$&+P6U&/#$&+oz)$))k@#%UD&%c(GU/6†
(?/+%$/8%^o—+%$/10z)#m\R&K}w\u//ŒM^zoH6%7(<=-&+=G.M™H™.oo
wDR&+)#m)x&,#-Y&+.oo6%7(<=-/#$&+o™.oo
+=Gg™™.ooM1D&+/F(+%J-K0)#)#*&+,#-$&=Q%”r–
)#>&#/#*)6%<=-#-X/6Q&+%J%6-X&/#*)/m&#KS&wD?/#%'&/Œ&;(.ooM,#%/•A'
&d(+%v)ZJ&#=6SD/2&28)&+-=%62s)&F&+/Œo—Ac&Hl—”/1ŒA]&#<[)&+F&
#=&+–
1-&+M&;(6SD/%c&zK23&+&#2/#0/123&+,#V&+/#[)\[/#D#W/62s)\[
CDJ&/F()ZJ6V&+6Y-)V&+)#W&+<=)$)K%|&e%U&/;&++%Y()ZJ/#0/123&+)#2J
/X-1J/$)6Q&+w†#Q%(y1Q&+67)L/#7Y&##2y&+/8%\[<h&#=&#)ZJ&T&,%&#/U
)€&+&#2/8%)DQ)\R&+)ZJ(•%&+23%KF&J)L/#7&#h&60&#1‚62s)6%TD6L
/#V&+CDJeY&+\RA%'D\JD
[ &YYY &YY &YY& &YY5 &YYH &YY%
\G
]^_`
% % &Y && &a 5&
 DGC,
Wbc`Wd
Y&e Y5H YHe Y5f YaH &
\GK1E!

5 e f  5 H
\G &fYe e;;H 5%&Y %;5% &aa 55a

#}-/#R&+,c)ZJ!•eJ&#*&+,#-$&#=&28)z/>&#6U&#U/&;(
.ooMz/k&++%$/10/#0/123&+)#*&+,#-$&<%'/J(6X/+S&Hoooo/•6{&+z)#%U(
ozPl—/k&+/#D&#h@CDR)&Q%”r9–#0/123&+)#*&+,#-$&%'/J(#%'&)L
HMoo/•6{&+)k@#%UDzoo/•6{&+)#*&+)#mCDn6SD/2<=+S&Mooo/•6{&+/1$%
@#%UD)#>&#@#Zz/1$%@#%UD)#>&#CDGT&60J@#2I&+z/#D#W/.goo/=%,#-Y&+%J-
K0)#1-&+&;(.ooMz/R)6Q/;&+/12y&+)ZJ/#0/123&+)#*&+,#-$&+?@6V%\-<8%
&;(.ooHz#DG6Q&+62s)HHzPoo/•6{&+z#%'&+%3+%$/10)k@#%UD\-<8%r9)ZJ
)Y&28)6X/+S&—
--JM(-rr_$\g(..'h3S.(+,.,
R)/#3%+%J&,7/Œ6SD&;(.ooP62s))-%A=(J&+/>&#)#?/@#$//1%7&
ƒ6Q/@#$„z/X-)#-/#0/123&+)#*&+,#-$&%'/J((Q/K%'&(X-#-=&/-=&(8%
<8%#-X/6Q&++%J-K0)#\V%6Q&+/X%)Yƒ\=&„y+%J-K0)#@{#>%&#z
1D&+/F(%J-K0)#=Q%<=/#0/123&+
 !   "#$"%&'()
*o
 
8%(*)/;&+/12y&+6X//8%Po—/Œ6SD6U&+%vJ&;(.ooP/#0/123&+
)#*&+,#-$&%'/J(/1y/#=&#•6%7(•)L/R)6Q/;&+/12y&+&#J&#/#*./#U+%8%
=\[eŒ&+KhG)ZJ/#0/123&+&-&/1‘&=G6J&+&+=G/#D#W/)$)&#=6SD/2/1-&+<=
&+-=%&28)
#V&+/#7@#Z&#h&&;(.ooP<ŒJCDJ/#0/123&+)#*&+,#-$&%'/
J(&-&/1‘&=G6†)Le28)/%U&/DG'/<3%<=)L/#7\‰,#V&+eJ-+%3)LAX%62s)
<8%,#R%A2s&+<R&#-$/;&++?@MAS&/1-&+<x&+&;(
;(.ooPz%'/J()L\[@#$//1%7&<2s/eh)z)#m\R&
&K}w/X%\=&+%J-K0)#9{#>%&#”–/;&+HH—&;(.ooPz/X%\=&
+%J-K0)#=Q%”J\/)–/;&+M.zH—#0/123&+)#*&+,#-$&%'/J(.ooP
&K}w)DR%&;(/;&+.zMAS&\-6SD&;(
k&++%$/10<R&#LJ6X/zg/m!r)DR%&;(.ooP”)#%U( z^—r9–z
+%$/10)k@#%UDK-)$)&#=6SD/2&28)&+-=%6J&+&d(+%v6X/,#-Y&+H/m!rz
)#%U(PzH—(*)<R&#LJ)ZJ/-=&/#0/123&+=&+&+=G)L,#-Y&+gooo)V&+

/G)L)k@#%UD+%J-K0)#z6FGA=&#v&+)k@#%UD62s)@#$/#=&#/#}-Dh/r-J&#
&+#%'@A=)#>&#1c&/#0/123&+@#%/h@/1D&+z/k&+,#R%A2s&++%J-K0)#+?@,#-Y&+
PAS&\-<8%,#R%A2s&++%J-K0)#/1c&
1-&+,#-Y&+/Œ+%vJ6U&)DR%&;(.ooPz/E&#/1X&+6SD/2<=-)k@#%UDy
&28)/J(J&+/F(ABƒ6$(6V&+„z)Y&+23%)L,%U&/#*)<=#%7De%U/z)Y&#v&+
&+23%(DJze$&/#}-@#-&+/1=-zCDJ6L6ˆG<=-/E&#/1X&+ƒ&L&+„z#%'&
/2s&+ƒe-&+eL&+„A=)L/#h/
*)<R&#LJ)ZJ/#0/123&+)#*&+,#-$&%'/J(6†/;&+6Q/e%U&z/#$&+
..ooP6X/zg/m!r”)#%U( z^—r9–45)e%'/z\RA2s&+)$)&#=6SD/2(8%
/#J(+%J/#0/123&+&+=G)=&+6V&+z/>&#6U&)DR%/#$&+..ooPz)L/1c&.oooo
/=%,#-Y&+%J-K0)#)#*&+,#-$&62s)(yz/1-&+6L+S&.ooo/=%,#-Y&)ZJ&#=6SD
/2&28)&+-=%
;(.ooPz,•Au)(8%)ZJ&K}w62s)w$)Ah@y(R)golzgP6%7(8%
&K}wA=&•A[))#X((R).Po6%7(>&#)#D&+z\-<8%6SD&;(z)#m\R
&K}w6†)L(*)/;&+/12y&+/8%HP—<=&K}w/;&+/8%^o—4FGA=
&#v&+(*)/;&+(=)$)/#0/123&+/1c&/#U+%8%@#Y%/#ŒJ&#h&A=CD$?&/2s&+
>&#6U&@#%c&.l™.™.ooPz1D&+/F(%J-K0)##*&+,#-$&96†
)L\[+L@(5/)ZJoP)k@#%UDz.)#*&+)#mCDn<=P^/1$%@#%UD<8%/k&++%$/10
&%c(GU//#}-('&#+%$A=/1c&^.&+#E&/•6{&+x&/X%1D&+/F(%J-K0)#
#*&+,#-$&=Q%z\RA2s&+)#*&+,#-$&/#J(+%J6†Ac&6U&g^)k@#%UD<=l
/1$%@#%UD<8%/k&+(*)6;&+,B+%J-K0)#/#}-('&#+%$6X/.l&+#E&/•6{&+œŽ/
1%c&+<T(*)<R&#-$)k@#%UDz/-=&eQ/#0/123&+)#*&+,#-$&)#>&#/#*)%'/
J(<8%l)k@#%UD<=-@#%c&)DR%&;(z6†Ac&/8% o&+#E&/•6{&+z/2I&+
62I&+<8%zg/•!r
 !   "#$"%&'()
-r
 
-EJM(-rrj$,3#L.=.'12! !"#>i!0
Dh/#*&+,#-$&)L#%'DA[)/Œ&+=Go™o™.oo^6†+L@@#S&/#W)6ˆG/#0
/123&+@#$//1%7&<=/;&+)23&+,#Y&;&+#Q%&#h@<=-/#0/123&+/=%)#>&#CDR)/U

>&#)V&+,#J%z(%&#eX)#)ZJ)$)/k)#*)&%c(GU/62s)/;&+)23&+
&K}w6X/6m&#^ozP^6%7(z&K}w)#X((R)HMlzP6%7(
#E&)#D&+K%|&e%U&)ZJ/#0/123&+<=+%$)Y)#*&+,#-$&/1-&+)$)@#%c&
+%J-K0)#)L&#%TDe%U&6Q&+z&K}w)ZJ)Y.\=&+%J-K0)#6TD)Le%c&6Q+%J-6Q&+
(X&#U//#W)@#%c&+%J-K0)#)DR%&;(z&K}w6X/l.^zo.6%7(zJ\/)&K}w
KŒ&+y(*).zMM6%7(z&#2<hG\JD&;(#-X/6Q&+&K}w6X/62s)(*)
/;&+/12y&+A=.z—…r›œ/;&+z.—\-<8%(*)6%7(/#%U/Ah@<=-
)DR%&;(.ooP
>&#6U&&+=G.g™.™.oo^zr96†/#[)#%'&62s).Hg@#%c&
+%J-K0)#<8%/k&+,#R%A2s&++%J-K0)#6X/#I&.z/•)#*&+,#-$&/2I&+62I&+
<8%/k&++%$/10+%J-K0)#/-=&/#0/123&+6X/ Hooo/•6{&+z+?@.AS&,#R%A2s&+
<=.zgAS&+%$/10+%J-K0)#\-<8%&;(.ooP‡E&#CDF&(•%@#%c&+%J-K0)#)Llz.
/1%'D)#*&+,#-$&62s))#DG7&&#2s&+/2I&+62I&+<8%lgo/•6{&+
r=Q%/#[)#%'&/#=&#)V&+.Hg@#%c&+%J-K0)#z<8%/k&+,#R%
A2s&++%J-K0)#/-=&/#0/123&+6X/PPz/1%'D)#*&+,#-$&/2I&+62I&+<8%/k&+
+%$/10+%J-K0)#/-=&/#0/123&+6X/PgMl/•6{&+z/;&++?@PAS&<T,#R%A2s&+<=
MzgAS&<T+%$/10+%J-K0)#\-<8%&;(.ooP•DG(V+%J-K0)#/;&+/12y&+(X&#
,#%(*)+%J-K0)#eE&#CDF&&;(.oo^6X/.MM/•6{&+™@#%c&/1-&+,#%&;(.ooP
)#m6X/l/•6{&+™@#%c&
• !,3#L(..'h+,.=.'12!$
j,3#L.=.'12!>i!0.'#!5.!3Z*[&YY;$
4FGA=+%J%6-X&/#0/123&+)L&#v&+6s/\L&+)J-z,#%U&&K}w)ZJ)Y.\=&
+%J-K0)#6TDAh@,•Au))#m\R&K}w6†6X/(*)6m&#A=^ozP^6%7(\JD^
&;(#-X/6Q&+<=J\/)ž&K}w/#%U/Ah@(*)6m&#HMlzP6%7(\JD.&;(#-X/
6Q&+L/#7&L%z6FGA=+%J%6-X&/#0/123&+6X/(*)/;&+/12y&+<8%/R)6QA8&&#?/
,#%6X/(*)/;&+.P—)#m/1-&+<x&+/#$&++%J-K0)#
#3\[/;&+/12y&+<T+%$)ZJ)$))k@#%UDz/k&++%$/10<R&#LJ)ZJ/#0
/123&+/1-&++%J%6-X&&=GAc&6U&)-&\Rlgooo/•6{&+-<8%/k&++%$/10<R&
#LJHl.loo/•6{&+)ZJ)Y&;(.oo^z)-&\R)ZJ/#$&+6SD&;(6†)#%U(/•
/1•&+H™M#2&+6%TDCDJ&/1•&++L@@#S&+%J/;&++%$/10<R&#LJ)ZJ/#0/123&+

,#V&+@#Y%K-\RA2s&+)#*&+,#-$&&%c(GU/+%J/;&+(=K-GUD/R+%$)k@#%UD
/;&+(X&#
1-&++%J%6-X&&=Gz+%$)$))k@#%UD/;&+/12y&+<8%/R)6Q@#%(†z6{&+
A-X/)$))k@#%UD/Œ‡AD}ž)#%@z9}&&G\/-),z)$))k@#%UD(8%&%c(GU//1c&\=&Ÿ
/?/)Y6TD6X/(*)/;&+/12y&+/1c&Mo—+%$/10\-<8%(*)+%$+%J-K0)#6SD&;(z
/1-&+6L)L&#v&+)k@#%UD6X/(*)/;&+/12y&+/1c&oo—&#2‡”zM^—–z
››” zPP—–z‡”l^—–zŸ?/&#%TD(†9/#%U/Ah@(*)+%$6m&#,7/Œ,#%
Ac&\=&/1-&++%J%6-X&&=G&#2 ”^.gooo6™9–z¡9”PPMooo6™9–zr
”lHooo6™9–z  ››  ”.gMooo6™9–z    ”.MMooo6™9–z    ”.Moooo6™9–z
r”.HPooo6™9–z”..ooo6™9–z‡”.l.ooo6™9–Ÿ
 !   "#$"%&'()
-*
 
_UD/RCDJ&/1•&++L@@#S&<=-\[/;&+/12y&+&L&+/1-&++%J%6-X&&=G
@#Y%,76U&\*))SD/1c&/#0/123&+/;&+(Q/)$)#6Q/e%U&,#%U&+%$/10+%J-K0)#
/1D&+eE&#(•%@#%c&+%J-K0)#Ac&/8%#=&+&+=&/•6{&+X%\=&zeE&#CDF&
(•%@#%c&+%$/10+%J-K0)#6X//1c&ooo/•6{&+z\=&)€&+6X/)-&\Roo/•
6{&+
j,3#L.=.'12!3@*8.Q!H^&YY;3)3Z*!
f^&YY;
8%&•%A-\s<T(Q/ƒ/#0/123&+e-&+eL&+„z)$))ICDJ&CDY&AB&#=&28)
)€&+&#2#>&#@#Z6†<=-)DQ)67+%Y(&#%'//#0/123&+ef&+)$)e%'&@#$@,%7(
\-$//#0/123&+)#5/)#‰zeJ&#=&#&#v&+/#%U/)#U67,%T()#U\[/;&+/12y&+CD$
&L&+)ZJ/#0/123&+9#Y&*&+/128)6%TD&=Gz6†)L&#v&+6s/6%TD)#m&#1‚
1'/Q/6s/6%TD)#m&#+%Y()ZJ/#0/123&+6†K%|&1J/1-&+(Q/,#-Y&+/#3%+%J&
1?/K=%”/Œ)DR%#$&+6U&6SD#$&+l–
%J%6-X&6%TD)#m&#&=G+#%&#h&\[/1S(Ad&+)ZJ)Y.\=&›<=
z/?/)Y)$)GUD/R)ZJ/#0/123&+6TD+%Y(\W/&+#%c(/1•&+&K}w)#m
/1-&+<x&+/#$&++%J-K0)#6†1I%wDR&+(*)loMzM6%7(”.H™oH™.oo^–z+%Y(/8%
zP— \- <8%  (*)6m&# <=-/#$&+J\/)ž&K}w/1y <T(R) .zHH 6%7(

”.H™oH™.oo^–z+%Y(o—\-<8%(*)6m&##0/123&+6†(?/6%7(CD$&#J&#/1-&+
/#3%+%J&&+d&,#%U&+%$+%J-K0)#)ZJ)$))k@#%UD6†/1y<T+S&(*)+%$/#%U/Ah@
<=-  6SD  &;( 
1-&++%J%6-X&&=Gz/#0/123&+)€&+)L(Q/6s/#{%@#u)<=-+%J%6-X&)DR%#$&+
M™.oo^,#%&K}wCDJG/1y<T(R)o^zM.6%7(”.™oM™.oo^–#2&+K-/$)
6Q&+/F(ABCD$(X&#)ZJ)$))#>&#\$)#,%T()#U/#0/123&+/128)6L&#2#m/#0
ozDh//#DU/#D&#h@)$&#F&zŸz/#0/123&+&#J&#)#L&+/1yAX%/1X&+/#$%(?/)F&
ef&+<=A%c&/u)\u/+%Y((X&#,#%U&+%J%6-X&6SD#$&+gz/#0/123&+w$)Ah@(*)
6$G  ggzl  6%7(  )ZJ  &K}w  ”P™g™.oo^–  <=  .H^z^  6%7(  )ZJ  J\/)    &K}w
”.™og™.oo^–
=-+%J%6-X&/#0/123&+wDR&+\FD&#?/”,#-Y&+6SD#$&+g–z\=&
)L &#v&+ @#%c&  +%J-  K0)# )#m)L#I& /1%'D )k  @#%UD  62s) ,#8@A'&#”&+=G
o™o^™.oo^)#m)L.lPHo962s)+%J-K0)#–z\=&)€&+)#m)L<‘&<¢&
Pooooo962s))#DG7&&#2s&+/#=&#)V&+”&+=Gg™g™.oo^,#8@A'&#Pooo
9–
%J%6-X&&=Gz)$)4)€&+/“1J,#$/#3I,#%A2s&++%J-K0)#)ZJ
,#R%&=G/1c&)Y.\=&+%J-K0)#6TD\u/+%Y((X&#%$/10+%J-K0)#eE&#CDF&)ZJ
,#R%4/1-&++%J%6-X&&=G6X/,#-Y&+^o/•6{&+™@#%c&z+%Y(/8%M.—\-
<8%+%J%6-X&6SD&;(
j,3#L(N7+,.=.'12!Dk#R!.!*G[
#0/123&+e28)<=-+%J%6-X&@#u)#{%(X&#(‰/1-&+,#-Y&+/#3%+%J&
6SD/#$&+l6U&)DR%#$&+o™.oo^
%$)$))k@#%UD/1c&\=&)LwD#28&+@#u)#{%&#J&#)#L&+z65)e%'/A=
)$)(†)k@#%UDeAD}ž)#%@/1c&)Y.\=&6TDA?GAX%62s)&#v&++E6†(?//1-&+P
/#$&++%vJ&;(z/DG&#%c&\*)eh/)ZJ)$))k@#%UD,#V&+6Z(X&#6762J)$))k
@#%UD/1y<T(*)+%$6m&#/#%U/Ah@<=-/#$&+1-&++%J%6-X&&=Gz&K}w6†)L
&#v&+@#%c&+%J-K0)#<2s/Ac&/1c&&+2£&+oo6%7(”oPzP6%7(<=-&+=G
 !   "#$"%&'()
 
 

™o™.oo^–zJ\/)ž&K}w)€&++S&)#X(/1yAX%&+2£&+Hoo6%7(”lzMl6%7(
&+=Go™o™.oo^–
4=/;&++%$)ZJ)$))k@#%UD/1-&++%J%6-X&&=G/#7#%'&1‚&Ž/&#?/y
&#L()$))k@#%UDeAD}ž)#%@&#2rz¡9zŸ/X%›<=&#L()k@#%UD
V&+4=llzrzlŸ/X%2s&++%J-K0)#eE&#CDF&@#%c&/X%
›ADV&y/1c&(*)o/1%'D9”@#%c&+%J-K0)#,•Au)6X/loH^ooo9<=-
&+=Go™o™.oog–z\=&)€&+6X/A2s&++%J-K0)#ef&+™.\=&›<8%
/1D&+eE&#@#%c&)LM/1%'D962s))#DG7&&#2s&+
DG&#%c&z#0/123&+\JD(Q/6s/@#u)#{%6†&#J&#)#L&+6%TD)#m&#
+%Y(<=-./#$&+)DR%&;(1-&++%J%6-X&&=Gz/#0/123&+/#m&#/#-Y&+)€&+)L
)$)6s/@#u)#{%<8%\[/;&+Ac&(X&#(‰)ZJ/?/)Y)$)GUD/RDG&#%c&\[@#u)
#{%&=G,#V&+KDG/1E62s)AFDz/#h()#>6†)LK?D#%'D\DG+%Y()#m\JD@#%c&
/;&+6%7(#>&#6%TD&=G6†K~&/8%<%'))$)&#=6SD/2e06•&+<R&z1-&+,#%
&+D{&)SD)LwD#28&+)X&,%'/z/#E&+D{&)D&+<~&/%U@/u)+%J/;&+2I&+CDJ&
)D&+)SD(?/)F&ef&+,#%U&/#0/123&+&+=G)=&+/DQ/KR))Y<T+%$A~&,#R%A2s&+
+%J-K0)#<=+%$/10+%J-K0)#&K}w+%Y(wDR&+K28%&+2£&+6%7(ooo<=)#m
w-JGCDJ&#(R)loo6%7(z<8%A2s&+)#*&+,#-$&)#DG7&&#2s&+1?/#X&)#U
-LJM(-rrm$i!.'#!V*.)*!+,@".)l
.,"m(KL[&YYeDP6g6N.!nL
#E&AX%/#0/123&+\JDo&;(+%J-K0)#z&#v&+6%7(&k%eh/)ZJ/#0
/123&+&K}w+%Y(6%7(z/#0+%$)$)A-X%)k@#%UD\u/+%Y((X&#”&#%TD(†91I%
wDR&+K28%('&#+%$–z/>&#/#J&#,#-Y&,Ž(z\[/#-$%<R&)ZJ,#R%&+-X%z\[)J&
/#%'@)ZJ)$))ICDJ&6%TD#=&#<=\[Y(6X(/1-&+/F(AB)$)4>&#/Œ6SD
&;(6U&#U/&+=G™.™.oogz/1Y%CDJo+%J%6-X&)#>&#
1-&+&;(.oogzA2s&+)D&+/%U@/u)62s)ek\D&+6$&+,7/#V&+CDJ<%')
#>&#@#Z6ˆG(X&#)k@#S&#-$rz65)e%'/A=)$)rCDG(VA8&z,%&#
K-J&##%'DCDY<=<%')e$&e8/9#=&28)/1-&+)$)r6†9z)#2J,7#=&+
A-X/&+F&#=&+zV&+/G)#*&+,#-$&zK-J&#&+#%'@@#$/#=&#/1$%@#%UDz)k@#%UD
67/;&+<R&6%TDA'zK~&6U&/E&#/1X&+/#0/123&+)L&+DG)I/#ŒJ•#=&+•
j,3#LŒ/#$&+o/8%/#$&+oP#0/123&++%Y((X&#K-/$)

6Q&+/Œ/$)6Q&+)ZJ,%&#/U<](V
#y%6SD&;(/X%(*)6%7(l.zo^z&K}w6†(?/6%+S&Po—+%$/10<=
/1y/#=&#(Q//1-&+&#v&+/#0/123&++%Y(6%7((X&#&#?//1c&/#U+%8%/1-&+&tJ
6SD&;(.oog
$)/#V&+/%&/$)6Q&+w?D/8%/F(AB&#=6SD/2/1-&++%J%6-X&&=G)#Z
GUDwD?/@#$//Œ&Q%/X%&T&,%&#/U1-&+6L&k%eh/A=\[+%J/;&+AX(@#$/z)#>&#
\$)#/#d/)#5//%T&/')ZJz\[A}-KR))ZJ+%$w;&+KSD<=\*)Ž@+%Y%)#?@/Œ
@#>J&+F&#=&+6R%<8%)$),#-Y&6SD/2<=-
#f((u)6>)#&+;&)#5&6=\DG+%Y()ZJ/#0/123&+z)$))ICDJ&6%TD
#=&#ed/6SD62J1J&#v&+)#Z/12I&+<=e%'&@#$@#•/1s
”–!‡/#D#¢@e%c&6Q+%J-K0)#…
”.–/#J(+%J(DJ<=-)k@#%UD…
”–62s)<h&6Q&+&+Œ&++%Y%)#?@…
”H–k)#*)&%c(GU/62s),#DGU&,#>)#(DJ<=-)k@#%UDCDn
 !   "#$"%&'()
-E
 
DG&#%c&z@#S&A8&)$)e%'&@#$@&=G)#m@#$/#DG#%'DCDY/1-&+&+d&
#X&z<=/#0/123&+/%U@/u)\u/+%Y(z)I&e†-+%Y%)#?@)k@#%UD,#V&+&+Œ&+/$)
6Q&+/8%/F(AB)$)&#=6SD/21-&+o@#%c&+%J-K0)#)ZJ+%J%6-X&&=Gz)L/8%
^@#%c&&K}w+%Y(6%7(4m&#6%7(A=)#D•%H@#%c&&K}w+%Y(6%7(
A%c&/%U@/Œ+%vJ/#$&+oH6U&6SD/#$&+oP™.oogJDo@#%c&+%J-K0)#z&K}w
+%Y((?/MMozM.6%7(/2I&+62I&+Mlz^^—‡E&#CDF&/1-&+(•%@#%c&z/-=&/#0
/123&+)Lgzo./1%'D9¤•62s))#DG7&&#2s&+z/2I&+62I&+,#-Y&+Hg./•
6{&+
1-&+6s/\DG+%Y(&=Gz&#L()k@#%UD)#0D&#%TD/$)6Q&+&#%TD&#?/A=
&#L()k@#%UD/=%)#>&#&+F&#=&+z)V&+&+#'<=)V&+&+#%'@”)#ZGUDA=)$)
K-J&#&+#%'@‡4–
1-&+A0)#\t#-X/6Q&+)ZJz)#2J)L&;(&=-!‡@#Y%)J&
/#%'@<=-/#0/123&+ef&+)$)e%'&@#$@(X&#/JG&#%TD&#2&;(.oogk&+)Q&+

/1-&+&;(.oogz!‡6†)LoHAS&/#JG6k%e%c&6QKJ-6Q&++%$/1c&)Y.\=&
)#*&+,#-$&#f(#•/1s/#c()#-\*))SD/1c&/#0/123&+z&+;&6=\DG+%Y(
(X&#)ZJ)$))#m\R)#*&+,#-$&z&+=GoH™o™.oogz#>&#@#Z6†62J1J&#L(l
+%Y%@#$@*&+)*D/#0/123&+#-@#Ž@(DJ<=-)k@#%UD/1c&/#0/123&+z,cD
+•%<=/X-6%TD,%'&)#-)$)K-J&#&+#%'@&%c(GU/(DJ<=-)k@#%UDCDn
[/;&+/12y&+&L&+/1-&+&;(.oo^z65)e%'/<=-&#v&+/#$&+)DR%&;(
6†62J6U&&#v&+K?D#%'De?/k&<T,%&#/U<](V#m\R/%cDK•&+e;/6SD+%J/;&+
<8%(*)/1D&+eE&#.zo^—™/#$&+/1-&+o.)DR%&;(.oo^%U@&R%wD/#U&=Gz/1-&+
CDB™.oogz)#m\R9/%U@/u)+%J/;&+<8%/R)6QeE&#CDF&zoP—™/#$&+<=6X/
6m&#<=-/#$&+oM™.oog <8%(*)/;&+zl—
1-&+)#D,‹/;&++%$&tJ6SD&;(.oogz/X%6J\R/#3%6%7(zA2I&+/#[)
62s))-%A=GUD/R/$)6Q&+)#ZGUD6U&)#m\R+%$>&#6U&/#$&+oPz+%$A2I&+
/#[)6†/;&+M^z —\-<8%/#$&+.™.oo^
#0DY&##2y&+/1[)/%U@)ZJ/•A'AX(@#$//;&+)J-/1-&+&28)<=\[e%U&
6Q&+(X&#)ZJ+%$)Y#=&+#LJ/1c&/#U+%8%z/#0/123&+#=&+#LJ<=/#0/123&+/%T&
/'%'/J(/%U@/u))L&#v&+e%U&6Q&+(X&#
1c&/#0/123&+#=&+#LJzw;&+KSDA-X%#=&+#LJ)IeY&/#DQ)\[,%7(
\-$/)ZJ#>&#@#Z6†62s)6%TD)#m&#(X&#1c&/#0/123&+/%T&/'zA†%\D?//Œ
<=A%c&/%U@w$)60&#)$)(5/ef&+(8%#0D/$)6Q&+\*)Ž@/ŒAX(
@#$/zA†%\D?//Œ)$)/;&+(X&#/1-&+)DR%CDBzKJ-6Q&+/ŒPg—6R%
<8%#DG6Q&+/%T&+t%<=.o.—6R%<8%)$),#-Y&<JG45)e%'/)$)\Y&@#ˆ(#DG
6Q&+<R&<8%,‹#X&&+d&zA†%\D?/)J-A=/%cD6%7()ZJ#'/#R&+/1-&++%J%6-X&
&=G[);&+/#•&+<T/#J&#,#-Y&<=\[w$-/1Q&<TKx&+)#YG)ZJ/%T&+t%#DG
6Q&+A=&•%A-)ZJ)$)/1-&++%J%6-X&&=G#F(#u//#2I&+(X%)J-&#?/
<=-/1-&+&;(/#$&+6SD&;(<8%(*)/1D&+eE&#A=,#-Y&+.zP/•!r™/#$&+
128)/#[)/1X&+&=G)#>&#@#Z6†6T1Jg&#L(+%Y%@#$@<=-/#$&+™.oog
<8%(u)/%cD,%T()#UAX(@#$/<=/#F(#u//#2I&+(X%$))#>&#\$)#)#ZGUD
62s)/#[)#%'&/#V&+CDJ<%')\tKu&+)V&+)u6%TD#=&#A†%\D?/)IeY&<=/#d/
)#5/6SD/2)V&+67#X&)#U&+D{&)D&+/%T&/1c&/#0/123&+
 !   "#$"%&'()

-L
 
j,3#L&#$&+oP/8%6SD/#$&+ol9#u)#{%/1-&+&+d&#X&
#3<J%/1xK~&Kd/)ZJ(Q/\R)k@#%UDeAD})#%@&#2‡z¡9zr9Ÿ
<=65)e%'/A=<8%\*))SD#•/1s/Œ6R%/$)&28)&+-=%z)Y#J%\=&)#*&+,#-$&
6†)L62s)&#v&+@#%c&/;&+6%7((X&#/1-&++%J%6-X&&=G&K}w<=J\/)
&K}wA%c&/%U@<2s/CDJ)$)&+2£&+)Y&/F(ABCDJ&/1•&+<=/#23&+wDGc&)L62
s)&#v&+)#D•%/;&+6%7(,Ž-K=%4FG)€&+A=+%J%6-X&/#0/123&+#-X/6Q&+\V%
6Q&+&#?/*))SD(X&#z,Ž-/#}-,#R%A2s&++%J-K0)#<=+%$/10+%J-K0)#/#23&+
wDGc&y(*))J-&K}w/;&+62s)PgzMM6%7(z/2I&+62I&+HMzM.—#R%
A2s&+  +%J-  K0)#  eE&#  CDF&  6X/  Pzl  /1%'D  9¤•z  /2I&+  62I&+  Mllzg  /•
6{&+™@#%c&
1-&++%J%6-X&&=Gz&#L()k@#%UD62s)2J/#>)#&#?/A=&#L()k@#%UD
KSD,#>”/;&+goz—–z&+DGc&<h/A%'D<=)V&+&+#'”/;&+glz^g—–$)6X%K%'&
/%cDe%7D)#-&#L()k@#%UD&=GeJ-+{(9z9rz9z9z¡9Ÿ
j,3#L5Œ/#$&+ol/8%/#$&+.#0/123&+1I%/1yAX%)#D,‹+%Y(
K-/$)6Q&+)ZJ,#Z&+#-Y&+,%&#/U/-=&)SD
4FGA=/#3%,‹&K}w1I%/1yAX%wD#28&++%Y(z/#h()#>6†@#$<£6$G
/#%U/Ah@62s)/1-&++%J%6-X&6SD)ZJ&;(.oogk&+,U/)Y+%J%6-X&&=Gz
&K}w(?/ zHg6%7(z/2I&+62I&+HzHM—#R%A2s&++%J-K0)#/1D&+eE&#
6X/Mzg./1%'D9¤•z/2I&+62I&+Hl^zMg/•6{&+™@#%c&
+DGc&&#F&/$)6Q&+A8&&#?//8%/1-&++%J%6-X&&=G)#>&#A=\[
AJ&/“J(X&#)ZJ)DQ),#Z&+#-Y&+/=%)#>&#/1c&/-=&/#U+%8%xJ)•&+wD/#U
+%Y(6%7()ZJ)$)&28)zo.)#m\R)#*&+,#-$&/X%\=&-›<=JA%c&
/%U@+%Y(6%7(1-&+gP@#%c&+%J-K0)#/X%-›zHl@#%c&&K}w(?/6%7(
4$G(8%/#%U/Ah@/1-&++%J%6-X&&=GA=.gPzgM6%7(<=-&+=Go™.™.oog
•&+<8%&•A[)+%Y%)*D&T&,%&#/U)ZJ#>&#@#Z<=6Q&+/#$%/Œz
w}&A~&+%vJ&#v&+@#%c&+%Y(6%7(z%'/J(<~&)L&#v&+@#%c&@#u)
#{%(X&#DG&#%c&z)$)ƒ)-&\L&+„/1c&/#0/123&+/#23&+1?/&+d&<=,#V&+k&
60&#  U/  /#W)  +%J%  6-X&  &=Gz  &K}w  +%Y(  (?/  .lzM.  6%7(z  /2I&+  62I&+

HzM—
R)6Q+%Y((X&#&#?//1-&++%J%6-X&&=G/#DQ)&#L()k@#%UD)$)&+=&#
&+DGc&<h/A%'Dz)V&+&+#%'@z/=%)#>&#<=)V&+&+#'+DGc&&#F&)ZJ\[\DG+%Y(
/1-&++%J%6-X&&=G62s)&#h&60&#(Q/@#S&K-\[/$)6Q&+)ZJwD/#U)#D&+/#0
/123&+z&+-=%1Jz)€&+A=#'CDY)ZJ<%')/;&+,#$)#L&+(5/)ZJ)$))$))k@#%UD&
=G/1-&++%J%6-X&/128)6LQ//1-&+&#v&+6T/=%&L&+#k%<=62s)e$-+%8%)#WB
/1-&+&#v&+/#$&+)DR%&;(A=@#-&+/1=-/1Y)k/*)ef&+/%T&(5/z<8%/•A',#$)J-
)ZJ)$))V&+/G&%c(GU/
+D{&<R&¡r<=-%'/J()#ZGUD/#V&+CDJ)$)CDn6SD/2DG
&#%c&z,7/Œ)DR%/#$&+og™.oog)•&+<8%\[\u/+%Y()ZJ/#U+%8%&L%)#D&+z
%'/J()€&++%Y((X&#>&#6U&/#$&+.™.oogz&#v&+K?D#%'D<T,#Y
&;&+&#=6SD/2&28)&+-=%1W/<R&1J,#“%/#0/123&+)#*&+,#-$&)€&+ed/6SD
wD?/#%'&z/#7#%'&CDJ<%')e$&1x&+)ZJ,#R%&+-X%/1-&+&#v&+/#$&+)DR%&;(
 !   "#$"%&'()
-T

×