

May 7, 2025
Dear Shareholders,
D ' -
t
t
h ^ -and-
d t
t
d
t -
K D - t
> : : D d , D
D D
D Y t D
t
t d , ^ ,
d d ^ > <
W < ^ t
: d
is a non-' W ' W
K h ^
> D / D t
> h ^
t /
Sincerely,
K
5/7/2025 Letter Continued (Full PDF)