# APEX CLEARING CORPORATION X-17A-5 (2024-04-03) — Broker-dealer annual report

- Company: APEX CLEARING CORPORATION
- Form: X-17A-5
- Filed: 2024-04-03
- Period: 2023-12-31
- Accession: 0000278331-24-000004
- CIK: 278331
- File #: 8-23522
- Type: Broker-dealer
- Material weakness: No
- Auditor: RSM US LLP
- Auditor location: Chicago, IL
- Contact: Jarred Beckerman
- Phone: 214-765-1278
- Signed by: William Brennan (Chief Administrative Officer)

Original filing: https://www.sec.gov/Archives/edgar/data/278331/000027833124000004/ACC_YE_2023_PUBLIC_EDGAR.pdf

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|  |  | William Brennan |
|--|--|-----------------|
|--|--|-----------------|

![](_page_2_Picture_4.jpeg)

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| ;@3@5;3>+F3F7?7@F                               |  |
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![](_page_4_Picture_0.jpeg)

#### **Report of Independent Registered Public Accounting Firm**

To the Stockholder and the Board of Directors of Apex Clearing Corporation

#### **Opinion on the Financial Statement**

We have audited the accompanying statement of financial condition of Apex Clearing Corporation (the Company) as of December 31, 2023, and the related notes (collectively, the financial statement). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

#### **Basis for Opinion**

This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion.

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#### **Supplemental Information**

The supplementary information contained in Schedules I, II, III, IV, V, VI, VII and VIII (the Supplemental Information) has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The Supplemental Information is the responsibility of the Company's management. Our audit procedures included determining whether the Supplemental Information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the Supplemental Information. In forming our opinion on the Supplemental Information, we evaluated whether the Supplemental Information, including its form and content, is presented in conformity with 17 C.F.R. § 240.17a-5 and 17 C.F.R. § 1.10. In our opinion, the supplementary information contained in Schedules I, II, III, IV, V, VI, VII and VIII is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as the Company's auditor since 2020.

Chicago, Illinois April 2, 2024

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| @@3A@                                                     |          |
| 3E:                                                       | <br>     |
| 3E:<br>E79D793F768ADD79G>3FADKBGDBAE7E                    | <br>     |
| *7EFD;5F765A>>3F7D3>:7>6;@FDGEF                           | <br>     |
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| +75GD;F;7E4ADDAI76                                        | <br>     |
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| *757;H34>7E	@7F                                           |          |
| GEFA?7DE@7FA83>>AI3@57A8N                                 | <br>     |
| *757;H34>7E8DA?388;>;3F7E                                 | <br>     |
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| ,AF3>D757;H34>7E	@7F                                      | <br>     |
| (DAB7DFK3@67CG;B?7@F	@7F                                  | <br>     |
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| 'F:7D3EE7FE                                               | <br>     |
| (<A/9/@@3A@                                               | <br><br> |
| 7/0797A73@/;2@A<186<923?J@3>B7AF                          |          |
| +75GD;F;7E>A3@76                                          | <br>     |
| (3K34>7E                                                  |          |
| GEFA?7DE                                                  | <br>     |
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| (3K34>7EFA388;>;3F7E                                      | <br>     |
| 55DG767JB7@E7E3@6AF:7D>;34;>;F;7E                         | <br>     |
| ,AF3>B3K34>7E                                             | <br>     |
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| (<A/997/0797A73@                                          | <br><br> |
| <::7A:3;A@/;21<;A7;53;173@                                |          |
| 'A<186<923?J@3>B7AF                                       |          |
| A??A@EFA5=	  B3DH3>G7                                     | <br>     |
| E:3D7E3GF:AD;L76     ;EEG763@6AGFEF3@6;@9                 |          |
| (D787DD76EFA5=	  B3DH3>G7                                 | <br>     |
| E:3D7E3GF:AD;L76;EEG763@6AGFEF3@6;@9                      |          |
| 66;F;A@3>B3;6<br>;@53B;F3>                                | <br>     |
| *7F3;@7673D@;@9E                                          | <br>     |
| (<A/9@A<186<923?J@3>B7AF                                  | <br>     |
| (<A/997/0797A73@/;2@A<186<923?J@3>B7AF                    | <br><br> |

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{9}------------------------------------------------

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{10}------------------------------------------------

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{11}------------------------------------------------

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{12}------------------------------------------------

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|                             | 313:03?      |
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|                                                       | 313:03?          |
|-------------------------------------------------------|------------------|
| 7BAE;FEI;F:5>73D;@9AD93@;L3F;A@E                      | <br>             |
| 'F:7D877E3@65A??;EE;A@ED757;H34>7                     | <br>             |
| %A@7K?3D=7F8G@6E                                      | <br>             |
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| +75GD;F;7E83;>76FA67>;H7D                             | <br>             |
| *757;H34>7E8DA?5ADD7EBA@67@FE	@7FA83>>AI3@57A8        | <br>             |
| (<A/9                                                 | <br><br><br><br> |

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{13}------------------------------------------------

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|                                               | 313:03?  |  |
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| 99<D/;13/A3;2<4=3?7<2                         | <br><br> |  |

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|                                       | 313:03?  |
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| (<A/9                                 | <br><br> |

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|                                               | 313:03?   |
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| 99<D/;13/A3;2<4=3?7<2                         | <br><br>I |

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|                                               | 313:03?      |
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| A?BGF7D:3D6I3D7                               | <br>         |
| \$73E7:A>6;?BDAH7?7@FE                        | <br>         |
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| +A8FI3D7                                      | <br>         |
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| \$?<=3?AF/;23>B7=:3;A;3A                      | <br><br><br> |

{14}------------------------------------------------

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|--------------------|------------------------------------------------------|------------------------------------------------------------------|---------------------------------------------------------------------|-------------------------------------|--------------|
| @<4313:03?         |                                                      |                                                                  |                                                                     |                                     |              |
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| +75GD;F;7E4ADDAI76 |                                                      | <br>N                                                            |                                                                     |                                     |              |
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| \$7EE!?BGF76;@F7D7EF                                   | <br>                         |  |
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{18}------------------------------------------------

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{22}------------------------------------------------

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{23}------------------------------------------------

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{24}------------------------------------------------

{25}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93**

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|                                                                                                                                  | 313:03? |      |
|----------------------------------------------------------------------------------------------------------------------------------|---------|------|
| "3A/=7A/9                                                                                                                        |         |      |
| ,AF3>EFA5=:A>67DRE7CG;FK                                                                                                         |         |      |
| +G4AD6;@3F764ADDAI;@9E3>>AI34>7;@5A?BGF3F;A@A8@7F53B;F3>                                                                         |         | N    |
| (<A/91/=7A/9/;2/99<D/093@B0<?27;/A320<??<D7;5@                                                                                   |         |      |
| 32B1A7<;@/;2	<?16/?53@                                                                                                           |         |      |
| "<;/99<D/093/@@3A@                                                                                                               |         |      |
| *757;H34>7E8DA?4DA=7D<br>673>7DE                                                                                                 |         |      |
| ,5A??A@EFA5=                                                                                                                     |         |      |
| ;J763EE7FE                                                                                                                       |         |      |
| *757;H34>7E8DA?5GEFA?7DE                                                                                                         |         |      |
| 'F:7D                                                                                                                            |         |      |
| (<A/9;<;/99<D/093/@@3A@                                                                                                          |         | <br> |
| 66;F;A@3>5:3D97E8AD5GEFA?7DER3@6@A@<br>5GEFA?7DERE75GD;FK355AG@FE                                                                |         |      |
| 66;F;A@3>5:3D97E8AD5GEFA?7DER3@6@A@<br>5GEFA?7DER5A??A6;FK355AG@FE                                                               |         |      |
| 97683;>E<br>FA<br>67>;H7D                                                                                                        |         |      |
| 'F:7D676G5F;A@E                                                                                                                  |         |      |
| (<A/9232B1A7<;@/;2	<?16/?53@                                                                                                     |         |      |
|                                                                                                                                  |         |      |
| "3A1/=7A/9034<?36/7?1BA@<;@31B?7A73@=<@7A7<;@                                                                                    |         |      |
| 3;D5GFA@E75GD;F;7E                                                                                                               |         |      |
| "3A/=7A/9                                                                                                                        |         | <br> |
|                                                                                                                                  |         |      |
| &7F53B;F3>D7CG;D7?7@F<br>D73F7DA8A8399D793F76674;F;F7?E3EE:AI@;@A?BGF3F;A@8AD<br>7F7D?;@3F;A@A8*7E7DH7*7CG;D7?7@FEA@+5:76G>7!!AD |         |      |
| E13@@"3A/=7A/9                                                                                                                   |         |      |
|                                                                                                                                  |         |      |
| (7D57@F397A8@7F53B;F3>FA399D793F76674;F;F7?E                                                                                     |         |      |
|                                                                                                                                  |         |      |
| &7F53B;F3>;@7J57EEA8A85A?4;@76399D793F76674;FE                                                                                   |         |      |

{26}------------------------------------------------

## **\$, &"#&\$#&(#"**

**'1632B93**

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|                                                                                     |      | 313:03? |
|-------------------------------------------------------------------------------------|------|---------|
| <:=BA/A7<;<49A3?;/A7C3"3A/=7A/9&3>B7?3:3;A(                                         |      |         |
|                                                                                     |      |         |
| ?AG@FA85GEFA?7DD;E=?3;@F7@3@57?3D9;@D7CG;D7?7@F                                     |      |         |
| A85GEFA?7DD;E=?3;@F7@3@57?3D9;@D7CG;D7?7@F                                          |      |         |
| (<A/99A3?;/A7C3"3A/=7A/9&3>B7?3:3;A                                                 |      |         |
|                                                                                     |      |         |
| D73F7DA8                                                                            |      |         |
| A8F:7@A@<br>5GEFA?7DD;E=?3;@F7@3@57?3D9;@D7CG;D7?7@FG@67DF:7A??A6;FKJ5:3@975F<br>AD |      |         |
| A8399D793F7674;F;F7?E3EE:AI;@AD?G>38AD*7E7DH7*7CG;D7?7@FEBGDEG3@FFA*G>75<br>        |      |         |
| "3A/=7A/9&3>B7?3:3;A                                                                |      |         |
|                                                                                     |      |         |
| E13@@"3A/=7A/9                                                                      | <br> | <br>    |
|                                                                                     |      |         |
| "3A/=7A/97;E13@@<4<br><4A63?7@80/@321/=7A/9?3>B7?3:3;AB;23?A63<::<27AF<br>E16/;531A | <br> |         |

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{27}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93**

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|                                                                                                                                 | 313:03? |          |
|---------------------------------------------------------------------------------------------------------------------------------|---------|----------|
| ?327A/9/;13@                                                                                                                    |         |          |
| D775D76;F43>3@57E3@6AF:7D5D76;F43>3@57E;@5GEFA?7DERE75GD;FK355AG@FE                                                             |         |          |
| %A@;7EB3K34>7393;@EF5GEFA?7DERE75GD;F;7E>A3@76                                                                                  |         |          |
| GEFA?7DERE75GD;F;7E83;>76FAD757;H7                                                                                              |         |          |
| D76;F43>3@57E;@8;D?355AG@FEI:;5:3D73FFD;4GF34>7FABD;@5;B3>E3>7EFA5GEFA?7DE                                                      |         |          |
| %3D=7FH3>G7A8E:ADFE75GD;FK5AG@F6;887D7@57EAH7D 53>7@63D63KEA>6                                                                  |         | N        |
| %3D=7FH3>G7A8E:ADFE75GD;F;7E3@65D76;FE;@3>>EGEB7@E7355AG@FEAH7D 4GE;@7EE63KE                                                    |         |          |
| %3D=7FH3>G7A8E75GD;F;7EB>76976FAF:7'BF;A@E>73D;@9ADBAD3F;A@8AD3>>ABF;A@5A@FD35FE<br>ID;FF7@ADBGD5:3E76;@5GEFA?7D355AG@FE        |         |          |
| (<A/9?327AA3:@                                                                                                                  |         | <br><br> |
|                                                                                                                                 |         |          |
| 307A/9/;13@                                                                                                                     |         |          |
| 74;F43>3@57E;@5GEFA?7DER53E:3@6?3D9;@355AG@FE7J5>G6;@9G@E75GD76355AG@FE3@6355AG@FE<br>6AG4F8G>A85A>>75F;A@                      |         |          |
| +75GD;F;7E4ADDAI76FA78875FG3F7E:ADFE3>7E4K5GEFA?7DE3@6E75GD;F;7E4ADDAI76FA?3=767>;H7DK<br>A@5GEFA?7DERE75GD;F;7E83;>76FA67>;H7D |         |          |
| 3;>76FA67>;H7DA85GEFA?7DEE75GD;F;7E@AFA>67DF:3@ 53>7@63D63KE                                                                    |         |          |
| %3D9;@D7CG;D763@6A@67BAE;FI;F:'8AD3>>ABF;A@5A@FD35FEID;FF7@ADBGD5:3E76;@5GEFA?7D<br>355AG@FE                                    |         |          |
| 99D793F774;F!F7?E                                                                                                               |         |          |
| \$7EE5:3D97                                                                                                                     |         |          |
| (<A/9307AA3:@                                                                                                                   |         | <br>     |
| E13@@<4A<A/91?327A@<C3?A<A/92307A@                                                                                              | <br>    |          |
|                                                                                                                                 |         |          |
| ?AG@F:7>6A@67BAE;F;@<br>*7E7DH73@=55AG@F<br>;@5>G6;@9H3>G7A8CG3>;8;76E75GD;F;7EM<br>757?47D                                     |         |          |
| ?AG@F3>>AI34>7A@67BAE;F;@<br>*7E7DH73@=55AG@FE<br>;@5>G6;@9H3>G7A8CG3>;8;76E75GD;F;7EM<br>757?47D                               |         |          |
| ?AG@FA867BAE;FI;F:6D3I3><br>                                                                                                    |         |          |
| 99<D/093/:<B;A7;&3@3?C3/;811<B;A/4A3?23=<@7A                                                                                    | <br>    | <br>     |

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 3@68;>76I;F:!&\*A@"3@G3DK 
A@AD?0 3 

{28}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93 <?:B9/4<?3A3?:7;/A7<;<4\$11<B;A&3@3?C3&3>B7?3:3;A@<4?<83?@/;23/93?@\$B?@B/;AA<&B931 );23?A63'31B?7A73@E16/;531A<4**

|                                                                                                                | 313:03? |  |
|----------------------------------------------------------------------------------------------------------------|---------|--|
| ?327A/9/;13@                                                                                                   |         |  |
| D775D76;F43>3@57E3@6AF:7D5D76;F43>3@57E;@(E75GD;FK355AG@FE                                                     |         |  |
| %A@;7EB3K34>7393;@EF(E75GD;F;7E>A3@76                                                                          |         |  |
| (E75GD;F;7E83;>76FAD757;H7                                                                                     |         |  |
| +:ADF+3>7EFA(                                                                                                  |         |  |
| 'F:7D                                                                                                          |         |  |
| (<A/9\$?327A@                                                                                                  |         |  |
|                                                                                                                |         |  |
| 307A/9/;13@                                                                                                    |         |  |
| 74;F43>3@57E;@(53E:3@6?3D9;@355AG@FE7J5>G6;@9G@E75GD76355AG@FE3@6355AG@FE<br>6AG4F8G>A85A>>75F;A@              |         |  |
| +75GD;F;7E4ADDAI76FA78875FG3F7E:ADFE3>7E4K(3@6E75GD;F;7E4ADDAI76FA?3=767>;H7DKA@<br>(E75GD;F;7E83;>76FA67>;H7D |         |  |
| 3;>76FA67>;H7DA8(E75GD;F;7E@AFA>67DF:3@ 53>7@63D63KE                                                           |         |  |
| %3D9;@D7CG;D763@6A@67BAE;FI;F:'BF;A@E>73D;@9ADBAD3F;A@8AD3>>ABF;A@5A@FD35FEID;FF7@AD<br>BGD5:3E76;@(355AG@FE   |         |  |
| (<A/9\$307A@                                                                                                   |         |  |
| E13@@<4A<A/9\$1?327A@<C3?A<A/9\$2307A@                                                                         |         |  |
|                                                                                                                |         |  |
| ?AG@F:7>6A@67BAE;F;@(D7E7DH743@=355AG@FM757?47D                                                                |         |  |
| ?AG@FA867BAE;F<br>                                                                                             |         |  |
| "3D/:<B;A7;\$?3@3?C30/;8/11<B;A/4A3?23=<@7A                                                                    |         |  |

&AF7,:734AH75A?BGF3F;A@6A7E@AF6;887D8DA?F:75A?BGF3F;A@8AD67F7D?;@3F;A@A8(\*7E7DH7D7CG;D7?7@FEBD7B3D76 4KF:7A?B3@K3EA8757?47D 
 3@68;>76I;F:!&\*A@"3@G3DK 
A@AD?0 3 

{29}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93\* ;4<?:/A7<;&39/A7;5A<A63\$<@@3@@7<;<?<;A?<9&3>B7?3:3;A@4<??<83?@/;23/93?@\$B?@B/;AA<&B931 );23?A63'31B?7A73@E16/;531A<4**

|                                                                                                                                                                                                                                                                                | 313:03?     |       |          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|-------|----------|
|                                                                                                                                                                                                                                                                                | !/?83A*/9B3 |       | "<<4A3:@ |
| GEFA?7DER8G>>KB3;6E75GD;F;7E3@67J57EE?3D9;@E75GD;F;7E@AF;@F:7A?B3@KRE<br>BAEE7EE;A@AD5A@FDA>3EA8757?47D	 8ADI:;5:;@EFDG5F;A@EFAD76G57FA<br>BAEE7EE;A@AD5A@FDA>:36477@;EEG763EA8757?47D	 	4GF8ADI:;5:F:7<br>D7CG;D7635F;A@I3E@AFF3=7@I;F:;@F:7F;?78D3?7EEB75;8;76G@67D*G>75<br> |             | N<br> | N        |
| GEFA?7DER8G>>KB3;6E75GD;F;7E3@67J57EE?3D9;@E75GD;F;7E8ADI:;5:;@EFDG5F;A@EFA<br>D76G57FABAEE7EE;A@AD5A@FDA>:36@AF477@;EEG763EA8757?47D	 	7J5>G6;@9<br>;F7?E3D;E;@98DA?OF7?BAD3DK>39EF:3FD7EG>F8DA?@AD?3>4GE;@7EEAB7D3F;A@EP3E<br>B7D?;FF76G@67D*G>75<br>                        |             | N<br> | N        |

{30}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93\* 'A/A3:3;A<4'35?35/A7<;&3>B7?3:3;A@/;2B;2@7;'35?35/A7<;4<?B@A<:3?J@(?/27;5<;)'<::<27AF E16/;53@**

|                                                                      | 313:03? |  |
|----------------------------------------------------------------------|---------|--|
| '35?35/A7<;&3>B7?3:3;A                                               |         |  |
| &7F\$7697D3>3@57                                                     |         |  |
| 3E:                                                                  |         |  |
| &7F-@D73>;L76(DA8;F;@'B7@GFGD7EA@FD35FE                              |         |  |
| J5:3@97FD3676ABF;A@E                                                 |         |  |
| 66?3D=7FH3>G7A8AB7@ABF;A@5A@FD35FEBGD5:3E76A@35A@FD35F?3D=7F         |         |  |
| 76G5F?3D=7FH3>G7A8AB7@ABF;A@5A@FD35FE9D3@F76EA>6A@35A@FD35F?3D=7F    |         |  |
| 6655AG@FE\$;CG;63F;@9FA378;5;F3@655AG@FEI;F:74;F3>3@57E<br>DAEE?AG@F |         |  |
| :<B;A&3>B7?32A<3'35?35/A32                                           |         |  |
|                                                                      |         |  |
| B;2@<;3=<@7A7;'35?35/A7<;                                            |         |  |
| 7BAE;FE;@+79D793F76G@6E3@=55AG@FE                                    |         |  |
| 3E:                                                                  |         |  |
| &7FCG;F;7EI;F:AF:7D%E                                                |         |  |
| &7F\$;CG;63F;@9CG;FK                                                 |         |  |
| (<A/9:<B;A7;'35?35/A7<;                                              |         |  |
| E13@@347173;1FB;2@7;'35?35/A7<;                                      |         |  |
|                                                                      |         |  |
| %3@397?7@F,3D97F?AG@F8ADJ57EEG@6E;@+79D793F;A@                       |         |  |
| E13@@347173;1FB;2@7;'35?35/A7<;#C3?);23?!/;/53:3;A(/?53AE13@@        |         |  |

&AF7,:73D7@A?3F7D;3>6;887D7@57E47FI77@F:734AH75A?BGF3F;A@8ADF:767F7D?;@3F;A@A8E79D793F;A@D7CG;D7?7@FE3@6 8G@6E;@E79D793F;A@BGDEG3@FFA D79G>3F;A@EG@67DF:7A??A6;FKJ5:3@975F3@6F:75ADD7EBA@6;@95A?BGF3F;A@ ;@5>G676;@B7J>73D;@9ADBAD3F;A@RE(3DF!!A8AD?0 3E8;>76A@"3@G3DK 

{31}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93\* 'A/A3:3;A<4'35?35/A7<;&3>B7?3:3;A@/;2B;2@7;'35?35/A7<;4<?B@A<:3?J@3/93?#=A7<;<;A?/1A@**

**313:03?**  ?AG@FD7CG;D76FA47E79D793F76;@355AD63@57I;F:A??;EE;A@D79G>3F;A@ N G@6E;@E79D793F76355AG@FE 3E: N +75GD;F;7E3F?3D=7F N ,AF3> N **E13@@2347173;1F4B;2@7;@35?35/A7<;**EG4FD35F>;@758DA?>;@7 N

&AF7,:73D7@A?3F7D;3>6;887D7@57E47FI77@F:734AH75A?BGF3F;A@8ADF:767F7D?;@3F;A@A8E79D793F;A@D7CG;D7?7@FE3@6 8G@6E;@E79D793F;A@BGDEG3@FFA D79G>3F;A@EG@67DF:7A??A6;FKJ5:3@975F3@6F:75ADD7EBA@6;@95A?BGF3F;A@ ;@5>G676;@B7J>73D;@9ADBAD3F;A@RE(3DF!!A8AD?0 3E8;>76A@"3@G3DK 

{32}------------------------------------------------

#### **\$, &"#&\$#&(#"**

#### **'1632B93\***

**'A/A3:3;A<4'31B?32:<B;A@/;2B;2@3927;'3=/?/A311<B;A@<;<?375;BAB?3@/;2<?375;#=A7<;@ B@A<:3?@\$B?@B/;AA<<::7@@7<;&35B9/A7<;** 

|                                                                                                                                     | 313:03? |   |
|-------------------------------------------------------------------------------------------------------------------------------------|---------|---|
| <?375;BAB?3@/;2<?375;#=A7<;@'31B?32:<B;A@                                                                                           |         |   |
|                                                                                                                                     |         |   |
| :<B;A&3>B7?32A<03'3A@723\$B?@B/;AA< /D&B93<?&35B9/A7<;<4/<?375;<C3?;:3;A<br><?/&B93<4/'394&35B9/A<?F#?5/;7G/A7<;BA6<?7G32(63?3B;23? | <br>    | I |
|                                                                                                                                     |         |   |
| &7F\$7697D3>3@57<br>AD7;9@GFGD7E3@6AD7;9@'BF;A@E<br>>>GEFA?7DE                                                                      |         |   |
| 3E:                                                                                                                                 |         | N |
| +75GD;F;7E                                                                                                                          |         | N |
| &7F-@D73>;L76(DA8;F\$AEE;@'B7@GFGD7EA@FD35FE,D3676A@3AD7;9@A3D6A8,D367                                                              |         | N |
| J5:3@97,D3676'BF;A@E                                                                                                                |         |   |
| %3D=7F.3>G7A8'B7@'BF;A@A@FD35FE(GD5:3E76A@3AD7;9@A3D6A8,D367                                                                        |         | N |
| %3D=7F.3>G7A8'B7@'BF;A@A@FD35FED3@F76+A>6A@3AD7;9@A3D6A8,D367                                                                       |         | N |
| &7FCG;FK678;5;F                                                                                                                     |         | N |
| 55AG@FE\$;CG;63F;@9FA378;5;F3@655AG@FEI;F:74;F3>3@57E<br>DAEE?AG@F                                                                  |         | N |
| \$7EE?AG@F'88E7F4KGEFA?7D'I@76+75GD;F;7E                                                                                            |         | N |
| ?AG@F*7CG;D76FA7+7FE;673EF:7+75GD76?AG@F                                                                                            |         | N |
| ?3/A3?<4:<B;A&3>B7?32A<03'3A@723A</<?375;B?7@271A7<;0<C3<? 7;3                                                                      |         | I |

{33}------------------------------------------------

#### **\$, &"#&\$#&(#"**

#### **'1632B93\***

**'A/A3:3;A<4'31B?32:<B;A@/;2B;2@3927;'3=/?/A311<B;A@<;<?375;BAB?3@/;2<?375;#=A7<;@ B@A<:3?@\$B?@B/;AA<<::7@@7<;&35B9/A7<;** 

|                                                                                    | 313:03? |   |
|------------------------------------------------------------------------------------|---------|---|
| B;2@<;3=<@7A7;'3=/?/A3&35B9/A7<;<br>11<B;A@                                        |         |   |
| 3E:;@3@=E                                                                          |         |   |
| 3@=E\$A53F76;@F:7-@;F76+F3F7E                                                      |         | N |
| 'F:7D3@=E)G3>;8;76-@67D*79G>3F;A@                                                  |         |   |
| &3?7E222222222222222222222222222                                                   |         | N |
| +75GD;F;7E                                                                         |         |   |
| !@+387=77B;@9I;F:3@=E\$A53F76;@F:7-@;F76+F3F7E                                     |         | N |
| !@+387=77B;@9I;F:'F:7D3@=E)G3>;8;76-@67D*79G>3F;A@                                 |         |   |
| &3?7E222222222222222222222222222                                                   |         | N |
| CG;F;7EI;F:*79;EF7D76GFGD7EA??;EE;A@%7D5:3@FE                                      |         |   |
| 3E:                                                                                |         | N |
| +75GD;F;7E                                                                         |         | N |
| -@D73>;L763;@\$AEEA@'B7@GFGD7EA@FD35FE                                             |         | N |
| .3>G7A8\$A@9'BF;A@A@FD35FE                                                         |         | N |
| .3>G7A8+:ADF'BF;A@A@FD35FE                                                         |         | N |
| ?AG@F 7>64K>73D;@9'D93@;L3F;A@E8ADAD7;9@A3D6EA8,D367                               |         |   |
| &3?7E222222222222222222222222222                                                   |         |   |
| 3E:                                                                                |         | N |
| +75GD;F;7E                                                                         |         | N |
| -@D73>;L763;@\$AEEA@'B7@GFGD7EA@FD35FE                                             |         | N |
| .3>G7A8\$A@9'BF;A@A@FD35FE                                                         |         | N |
| .3>G7A8+:ADF'BF;A@A@FD35FE                                                         |         | N |
| ?AG@F 7>64K%7?47DEA8AD7;9@A3D6EA8,D367                                             |         |   |
| &3?7E222222222222222222222222222                                                   |         |   |
| 3E:                                                                                |         | N |
| +75GD;F;7E                                                                         |         | N |
| -@D73>;L763;@\$AEEA@'B7@GFGD7EA@FD35FE                                             |         | N |
| .3>G7A8\$A@9'BF;A@A@FD35FE                                                         |         | N |
| .3>G7A8+:ADF'BF;A@A@FD35FE                                                         |         | N |
| 55AG@FEI;F:'F:7D7BAE;FAD;7E7E;9@3F764K3AD7;9@A3D6A8,D367                           |         |   |
| &3?7E222222222222222222222222222                                                   |         | N |
| +79D793F76G@6EA@ 3@67E5D;472222222222222222222222222222                            |         | N |
| (<A/9B;2@7;'3=/?/A3'31A7<;<br>11<B;A@                                              |         | N |
| J57EE78;5;7@5K+7FE;67G@6E8AD+75GD76?AG@F+G4FD35F\$;@7+75GD76+F3F7?7@F8DA?<br>\$;@7 |         | N |
| %3@397?7@F,3D97F?AG@F8ADJ57EEG@6E;@+7B3D3F7 55AG@FE-@3G6;F76                       |         |   |
| J57EE78;5;7@5KG@6E;@+7B3D3F7 55AG@FE'H7D-@67D%3@397?7@F,3D97FJ57EE                 |         |   |
| -@3G6;F76                                                                          |         | N |

&AF7B7J6A7E@FA887DAD7;9@GFGD7E3@6AD7;9@'BF;A@EGEFA?7D55AG@FEG@67DA??;EE;A@\*79G>3F;A@

&AF7,:7D73D7@A?3F7D;3>6;887D7@57E47FI77@F:734AH75A?BGF3F;A@8AD67F7D?;@3F;A@A8G@6E 7>6;@+7B3D3F755AG@FE 8ADAD7;9@GFGD7E3@6AD7;9@'BF;A@EGEFA?7DEBGDEG3@FFAD79G>3F;A@EG@67DF:7A??A6;FKJ5:3@975F3@6 F:75ADD7EBA@6;@95A?BGF3F;A@;@5>G676;@B7J>73D;@9ADBAD3F;A@E(3DF!!AD?0 3E8;>76A@"3@G3DK 

{34}------------------------------------------------

#### **\$, &"#&\$#&(#" '1632B93\* 'A/A3:3;A<493/?32'+\$'B@A<:3?'35?35/A7<;&3>B7?3:3;A@/;2B;2@7;93/?32'+\$'B@A<:3?11<B;A@ );23?<4**

|                                                                                                | 313:03? |
|------------------------------------------------------------------------------------------------|---------|
| 93/?32'+\$'B@A<:3?&3>B7?3:3;A@                                                                 |         |
| &7F>7697D43>3@57                                                                               |         |
| 3E:                                                                                            | <br>N   |
| +75GD;F;7E3F?3D=7F                                                                             | <br>N   |
| &7FG@D73>;L76BDA8;F\$AEE;@AB7@5>73D76+/(+67D;H3F;H7E                                           | <br>N   |
| >73D76+/(+ABF;A@E                                                                              |         |
| %3D=7FH3>G7A8AB7@5>73D76+/(+ABF;A@5A@FD35FEBGD5:3E76                                           | <br>N   |
| %3D=7FH3>G7A8AB7@+/(+ABF;A@5A@FD35FE9D3@F76EA>6                                                | <br>N   |
|                                                                                                |         |
| &7F7CG;FK678;5;F366>;@7E	3@6                                                                   | <br>N   |
| 55AG@FE>;CG;63F;@9FA3678;5;F3@6355AG@FEI;F:674;F43>3@57E<br>9DAEE3?AG@F                        | <br>N   |
| \$7EE3?AG@FA88E7F4K5GEFA?7DAI@76E75GD;F;7E                                                     | <br>N   |
| ?AG@FD7CG;D76FA47E79D793F768AD5>73D76+/(+5GEFA?7DE366>;@7E3@6                                  | <br>N   |
|                                                                                                |         |
| B;2@7;93/?32'+\$'B@A<:3?'35?35/A3211<B;A@                                                      |         |
| 7BAE;FE;@5>73D76+/(+5GEFA?7DE79D793F76355AG@FE3F43@=E                                          |         |
| 3E:                                                                                            | <br>N   |
| +75GD;F;7ED7BD7E7@F;@9;@H7EF?7@FEA85>73D76+/(+5GEFA?7DE8G@6E3F?3D=7F                           | <br>N   |
| +75GD;F;7E:7>68ADB3DF;5G>3D5>73D76+/(+5GEFA?7DE;@>;7GA853E:3F?3D=7F                            | <br>N   |
| %3D9;@EA@67BAE;FI;F:67D;H3F;H7E5>73D;@9AD93@;L3F;A@E;@5>73D76+/(+5GEFA?7DE79D793F76            |         |
| F<br>3E:                                                                                       | <br>N   |
| +75GD;F;7ED7BD7E7@F;@9;@H7EF?7@FEA85>73D76+/(+5GEFA?7DE8G@6E3F?3D=7F                           | <br>N   |
| +75GD;F;7E:7>68ADB3DF;5G>3D5>73D76+/(+5GEFA?7DE;@>;7GA853E:3F?3D=7F                            | <br>N   |
| &7FE7FF>7?7@F8DA?FA67D;H3F;H7E5>73D;@9AD93@;L3F;A@E                                            | <br>N   |
| >73D76+/(+ABF;A@E                                                                              |         |
| .3>G7A8AB7@5>73D76+/(+>A@9ABF;A@5A@FD35FE                                                      | <br>N   |
| .3>G7A8AB7@5>73D76+/(+E:ADFABF;A@5A@FD35FE                                                     | <br>N   |
| &7FCG;F;7EI;F:AF:7D%E                                                                          |         |
| &7F\$;CG;63F;@9CG;FK                                                                           | <br>N   |
| +75GD;F;7ED7BD7E7@F;@9;@H7EF?7@FEA85>73D76+/(+5GEFA?7DE8G@6E3F?3D=7F                           | <br>N   |
| +75GD;F;7E:7>68ADB3DF;5G>3D5>73D76+/(+5GEFA?7DE;@>;7GA853E:3F?3D=7F                            | <br>N   |
| >73D76+/(+8G@6EA@:3@667E5D;4722222222222222222                                                 | <br>N   |
| ,AF3>3?AG@F;@5>73D76+/(5GEFA?7DE79D793F;A@366>;@7EF:DAG9:                                      | <br>N   |
| J57EE678;5;7@5K8G@6E;@5>73D76+/(+5GEFA?7DE79D793F;A@EG4FD35F>;@78DA?>;@7                       | <br>N   |
|                                                                                                |         |
| %3@397?7@F,3D97F?AG@F8ADJ57EE8G@6E;@5>73D76+/(+E79D793F;A@355AG@FEG@3G6;F76                    | <br>N   |
| J57EE678;5;7@5K8G@6E;@5>73D76+/(+E79D793F76355AG@FEAH7DG@67D%3@397?7@F,3D97F<br>J57EEG@3G6;F76 | <br>N   |
|                                                                                                |         |

&AF7B7J6A7E@FA887D5>73D76+/(+GEFA?7D55AG@FEG@67DA8

&AF7,:7D73D7@A?3F7D;3>6;887D7@57E47FI77@F:734AH75A?BGF3F;A@8AD67F7D?;@3F;A@A8>73D76+I3BEGEFA?7D +79D793F;A@\*7CG;D7?7@FE3@6G@6E;@>73D76+I3BEGEFA?7D55AG@FEG@67D8A8BGDEG3@FFA D79G>3F;A@EG@67DF:7A??A6;FKJ5:3@975F3@6F:75ADD7EBA@6;@95A?BGF3F;A@;@5>G676;@B7J>73D;@9 ADBAD3F;A@E(3DF!!AD?0 3E8;>76A@"3@G3DK


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