ABCADEFGHEIEJKLEAMLNOLPLQERLQESTC
DQUEHGV
JKLEDWMLXYLXO
Z[NE\PMLQOE\WLN]LX DEFGHFIJEIKLEMNOPQGRSPGTULVPWGXEFLYGEPGZ...
14 downloads
860 Views
997KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
ABCADEFGHEIEJKLEAMLNOLPLQERLQESTC
DQUEHGV
JKLEDWMLXYLXO
Z[NE\PMLQOE\WLN]LX DEFGHFIJEIKLEMNOPQGRSPGTULVPWGXEFLYGEPGZFPG[FKUSIGHVIPNVQNFI\]N^PPWUG_OGQFLVPQFPYGO`GZSIUGZFPGTOaUIVQGZFIGbSW`SKIVUFPG_OGFIacLLFPYGWMNFEPUGVOBFINVLC ZFIGDEQLEMNKFEUFPGZFWGTIKSPEZFPG_OGLEFQFPFGDFPPGCFE`GFPUWMNFEZFPZFPGbV`GaGQFQFPGHEZZFP\IGJOIZFGTULVPGZEFG]IOPZLVQFG_OIGJIacLLOPQGWFEPFWGTOaUIVQFW FPU_SQFPKGZVWGLEWWFPGO`GZEFGbSSIZEPVUFPGRSPGHVIPNVQNFI\]N^PPWUF DSMNGTULVPGQECUGPEMNUGVOaMGN`GOFJOBUWFEPYGWEMNGZEFGRFILSIFPFPGbSSIZEPVUFPGJEFZFIGCFWSIQFPG_OG`cWWFPYGaSLQUGZFIGTIKSPEZFGFEPFIG[GOIYGZEFGEPGZEFG]VLVPEW IEEPP\DVIKVPUGacNIUYGJSGZEFG[QRGEPGFICEUUFIUFGbS`GaFGRFIJEMKFLUGJEIZFG[MNLEFBLEMNYGQFQFPGJPZFGZFWGTVNIFWGUVWXGYFIIV_FEUYG`OBGZEFG[QRGZFPG[UOI_GEPW ZEMNUWGJVQFPYGOPZGWEFGQFLVPQUGZVCFEGPVMNGOVIW\[\OVIWYGEPGZEFGVOWG_JFEGEPFEPVPZFIGRFIWMN`SL_FPFPG]VLVPEFPGCFWUFNFPZFG[UFIPFPEPWFLFGDEFGHFINSLUPEWWF ZSIUG WEPZG `FNIG VLWG RFIJEIIFPZYG JEFG ZEFG [SLVPFIG CVLZG FIKFPPFPG `cWWFPFG DVG WEPZG ZEFG HELKFIG ZFIG KcPWULEMNG QFWMNVaaFPFPG DSGGFLQVLVPEWYG ZEFG FEPVPZFI FICEUUFIUGCFKS`GaFPFGDVGWEPZGZEFGDVPEaFWUVUESPFPGZFIGXFPUIVLEPUFLLEQFP_FPGZFIG]VLVPEFPYGRFIKEIGFIUGEPGTULVPWG\IFOPZEPGY^VIEGOPZGD]VELV`YGZF`GHcPFPG^GOPZ ZVGEWUGZVWGRFIZFICLEMNFGLEIKFPGRSPGTPUE\J[YGZF`GJI_aFEPZGZFIG[SLVPFIF DEFGEPGZFIGZV`FPLSWFPGXSPFGQFaVPQFPFGPFQVUERFG[OGFIEPUFLLEQFP_GVICFEUFUGcCFIGDNJGZTOJRLJRYGFFF
DEFGHIJKLKFMNOPFPGQFNGROSIPNT ULVIP ! "#$ %$&'()*# +,$- #)(#( .)/+-)0#( 1#$)/+-2 WOMLFM ! 3)( 4#(*5'-# 6,55#&)(072 WOMXGJPQGYFZI ! 8.#) 9:;-)72 [IPP\GJPQG]EX ! %-;<(7 <;-# =$#:(*# )( *#$ >#.<;- ?'( %(-)!342 ^_IEVIS ! "#$ ?'( @$#AA<$ >#7/+
12 IJJKLMNOPQRKJSTKLQUSJVWKJQXKLYZMRNJ[Q[SKQU\LTKJY\JJKQMSJWKLQ[KJQ[SZMWKJQ]WNVPR\O^KJ_Q[SKQ[KLQ`aMQO\YPLKZMKJ[KQ]WVLbQX\LQYSZMQMKLcKSWYZMWKdQeSK fVgKJbS^L\cM\JKQ hPKLWLVTKJQ KSJQ LNYZMQ NJYZMRKOOKJ[KYQ *JSYWKLJ_Q MSJQ VJ[Q RSK[KLQ X\JQ +KLJKb_Q [Vbc+KbQ ,L\OOKJQ hPKLONTKLWdQfPKLQ RaMLKJ[Q [SKQ YSZM -VYNbbKJPNOOKJ[KJQ,KRSWWKLR\O^KJQ[SKQ.VJWKLKJ/Q]K^WS\JKJQ[KYQTKONJ[KWKJQ0KLJLNVbYZMS++YQXKL[VJ^KOWKJ_QRaMLKJ[Q1OSW-KQ[SKQbaZMWSTKJQ2NJ[KYWhW-KJ Vb+O\YYKJ_QONTQ[KLQRKSWNVYQTL3gWKQ4KSOQ[KLQfVgKJMhOOKQJNZMQRSKQX\LQSbQTOKSgKJ[KJQ2SZMWQ[KLQ]\JJKQ1NLYNJWKLdQ]KSWQKSJSTKJQ4NTKJQMKLLYZMWKQ5VMKQ6QKY b\ZMWKQ[SKQYcLSZMR3LWOSZMQWLhTKLSYZMKQ5VMKQX\LQ[KbQ]WVLbQYKSJ_Q[\ZMQYSKQKLb3TOSZMWKQKYQ[KJQ]\ONJKLJ_QNPYZMOSKgKJ[KQfLPKSWKJQ[VLZM-V+hMLKJQVJ[QYSZM SbQhPLSTKJQbSWQ[KJQ`hJTYWQTKR\JJKJKJQ7L^KJJWJSYYKJQNVYKSJNJ[KL-VYKW-KJdQ2aJTYWQJSZMWQ`K[KLQYNMQ[SKQ8V^VJ+WQL\YST9Q[SKQ,KRSWWKLR\O^KJ_Q[SKQ`KW-WQ[SK ]:2QVbYcSKOWKJ_QYZMSKJKJQ-VTOKSZMQY;bP\OMN+WKJQ<MNLN^WKLQ-VQPKYSW-KJdQeKJJQRaMLKJ[QbNJQbKMLQ\[KLQRKJSTKLQ-VbQfPRNLWKJQXKLVLWKSOWQRNL_Qb\ZMWKJ YSZMQNJQNJ[KLKLQ]WKOOKQX\JQ1NLY=>1NLY_QYKMLQRNMLYZMKSJOSZMQNPKLQSJQ[KLQ?NbKJO\YKJQ8\JK_Q,K+NMLKJQ-VYNbbKJPLNVKJ_Q[SKQKSJ[KVWSTQTKTKJQfWONJQVJ[ YKSJKQ@KO+KLQTKLSZMWKWQYKSJQRhL[KJdQeSKQ]:2QRNLQ[KLQ[L\MKJ[KJQAKLJSZMWVJTQJVLQ[NJ^Q[KbQYZMJKOOKJQVJ[Q^\JYKBVKJWKJQ@NJ[KOJQX\JQ1LKZ^ZL\RJQ@N;KY KJWTNJTKJdQ :MJKQ [KJQ 7SJYNW-Q YabWOSZMKLQ CN++KJY;YWKbKQ RaLKQ YSKQ XKLbVWOSZMQ PKSbQ fV+cLNOOQ [KYQ U\J[KYQ 2\\W;J[\OQ NW\bSYSKLWQ R\L[KJQ 6Q YKOPYWQ [SK N^WSXSKLWKJQVNLNWL\JYZMSLbKQMaWWKJQ[SKYKLQ*NWNYWL\cMKQJSZMWQYWNJ[TKMNOWKJd WJ[QRNYQ^NbQJVJX 2\\W;J[\OQ MNWWKQ SJQ YKSJKbQ IJJKLJQ KSJKQ WKZMJSYZMKQfJONTKQ PKMKLPKLTW_Q [SKQ -RKS+KOO\YQ 4KSOQ [KYQ XSKO+aOWSTKJQ ?NPKOYQ TKRKYKJQ RNL_Q [KLQ 1NLY>=>1NLY_Q [SK ^hJYWOSZMQMKLPKSTK+hMLWKQ*\JYWKOONWS\JQ-RKSKLQKSJNJ[KLQaMJOSZMKLQ]cSLNOTNONYSKJ_QbSWQ[KLQ?NbKJO\YKJQ8\JKQXKLPNJ[_QR\QfJWS>7]QPSYONJTQJSZMWQKSJbNOQKSJK X\JQ-KMJQ5KONWSX>7SJMKSWKJQYKSJKLQAKLPNJJVJTQMSJWKLQYSZMQTKPLNZMWQMNWWKdQAKLbVWOSZMQRhL[KQKYQNVZMQJSKQhPKLQ[SKYKQKLYWKQ7SJMKSWQMSJNVYTKONJTKJ_Q[KJJ YKSJQ TNJ-KYQ @NJ[KOJQ RS[KLYcLNZMQ [KbQ 2aVWKLVJTYcL\-Kg_Q [KJQ [SKQ *\Yb\^LNWKJQ X\JQ SMbQ KLRNLWKWKJdQ fJWS>7]Q R\OOWKQ [SKQ 0LKSMKSWQ VJ[Q RhL[KQ NOOKY [NLNJYKW-KJ_QVbQ[SKYKQ0LKSMKSWQ-VQKLONJTKJdQfV+QYKSJKQCKSYKd .WJYKLQ,KTJKLQMNWQJSZMWYQ-VQXKLOSKLKJd/QfWONJQYZMLKZ^WKQNVYQYKSJKJQZPKLOKTVJTKJQNV+QVJ[QRNJ[WKQYSZMQX\JQ[KbQ^OKSJKJQU\JSW\LQ[KLQfVgKJPK\PNZMWVJT NPdQ]KSJQ1OSZ^QMVYZMWKQhPKLQ[SKQYcaLOSZMK_QhPKLRSKTKJ[QWKZMJSYZMKQ7SJLSZMWVJTQ[KLQ*NPSJK_Q[SKQ[KJJ\ZMQVJXKL^KJJPNLQ[SKQ@NJ[YZMLS+WQSMLKYQ1KR\MJKLY WLVT_QVJ[QPOSKPQYZMOSKgOSZMQNJQ[KLQ0LNVQMaJTKJ_Q[SKQSMbQY\QaMJOSZMQYNMdQ4;NLSQRNLQ[_\]QUKWKLQTL\gQVJ[QRSL^WKQWL\W-QSMLKLQPKW\JWQRKSPOSZMKJQ0\LbKJQ^La+WSTd eNYQYZMO\MRKSgK_QO\Z^STKQ@NNLQWLVTQYSKQ-VLhZ^TK^abbW_QKYQ+SKOQSMLQPSYQ+NYWQ-VLQ@h+WKdQUhMKO\YQMSKOWQYSKQfWONJYQ+\LYZMKJ[KbQ1OSZ^QYWNJ[dQ]SKQYchLWKQ[SK ,K+hMOK_Q[SKQKLQSMLQTKTKJhPKLQKbc+NJ[QVJ[QbNJZMbNOQVJWKLQKSJKLQUNVKLQNVYQWJYSZMKLMKSWQ-VQXKLPKLTKJQYVZMWKdQfWONJQRNLQSLLSWSKLWdQfOOKY_QRNYQKLQWNWQVJ[ YNTWK_QYZMSKJQSLTKJ[RSKQKSJQVJPKRVgWKY_QTK+hMOYbagSTKYQfPWNYWKJdQfOYQRhL[KQKLQJ\ZMQbKMLQ+hLQbSZMQKbc+SJ[KJ_QNOYQKLQ`KbNOYQ-VTKTKPKJQMNW_QYZM\gQKY 4;NLSQ[VLZMQ[KJQ]SJJdQeNYQYc3WWSYZMKQfV+POSW-KJQSJQSMLKJQL\WKJQfOPSJ\NVTKJQXKLNJONgWKQ[KJQfL^\JS[KJ_QYSZMQNPLVcWQRSK[KLQ[KbQU\JSW\LQ-V-VRKJ[KJd 8RSYZMKJQSMJKJQPKYWNJ[QXSKOQbKMLQNOYQ2\;NOSWaWdQ]SKQNLPKSWKWKJQKJTQ-VYNbbKJQVJ[QYSKQOKPWKJQSJQKSJKLQ*NPSJKd .0hLQfJWS>7]QYSJ[QRSLQKSJQ0N^W\L_Q[KJQKYQJVLQYZMRKLQPKLKZMJKJQ^NJJ/_Q+VMLQ4;NLSQ+\LWdQ.CSLQTK+aML[KJQ[SKQZPKLTNJTYYWKOOKJ_QNV+Q[SKQKYQNJTKRSKYKJQSYWd/ fWONJQYZMhWWKOWKQ[KJQ*\c+_Q-3TKLWK_Q-VZ^WKQ[NJJQbSWQ[KJQ]ZMVOWKLJd .CKJJQKYQYSZMQXKLbKS[KJQOagW_QRKL[KQSZMQ[SKQ]:2Q^hJ+WSTQX\JQ^abc+KLSYZMKJQfVYKSJNJ[KLYKW-VJTKJQ+KLJMNOWKJdQ2\\W;J[\OQMNWQbSLQRSK[KLQKSJbNOQX\L fVTKJQTK+hMLW_QRSKQTL\gQ[NYQ5SYS^\QSYWd/ .1OKSPWQ [SLQ hPKLMNVcWQ KSJKQ CNMOX/Q .fJWKL+Q YZMKSJWQ KSJQ YSZMKLKLQ :LWQ -VQ YKSJ_Q Y\JYWQ MaWWKQ fJWS>7]Q OaJTYWQ KLJKVWQ -VTKYZMONTKJdQ CNLWKJQ RSLQ NP_Q RNY TKYZMSKMWd/Q.IZMQMNPKQ[SZMQPSYMKLQJSZMWQNOYQKSJKJQUNJJQ^KJJKJTKOKLJW_Q[KLQ[NYQWJNJTKJKMbKQX\LQYSZMQMKLYZMSKPWd/ 7SJQVJRSOOSTKLQ8VTQONTQVbQ[SKQUVJ[RSJ^KOQ[KYQfL^\JS[KJd .eSKQ]SWVNWS\JQSYWQ+KYWTK+NMLKJ_QRNYQ[SKQKSTKJWOSZMKQVL\POKbNWS^QX\JQ1NLY>=>1NLYQPKWLS++WdQfPTKYKMKJQX\JQVJYKLKJQ1KbhMVJTKJ_Q[NVKLMN+WKJQ0LSK[KJQ-V YWS+WKJ_Q RKL[KJQ [SKQ A3O^KLQ X\JQ 1NLYQ VJ[Q 0NL;JWQ KYQ YKOPYWQ TKbKSJYNbQ ^NVbQ YZMN++KJ_Q SMLKQ ,NONYSKJQ X\JKSJNJ[KLQ -VQ O3YKJdQ eN-VQ +KMOKJQ J\ZMQ [SK fJYNW-cVJ^WKd/ .IYWQKYQJSZMWY_Q[NgQRSLQSJ-RSYZMKJQX\JQ[KLQ7YSYWKJ-Q[KLQ?NPKOQRSYYKJXQWJ[QSLTKJ[RNJJ_QfWONJ_Q\PQ[VQRSOOYWQ\[KLQJSZMW_QRSLYWQ[VQSJQ8VT-RNJTQTKLNWKJdQeNJJ JabOSZM_QRKJJQfJWS>7]QNV+Q[KJQKSJ-STQO\TSYZMKJQ,K[NJ^KJQXKL+aOOW_Q[SKQ]:2QSJQ[SKQ?NbKJO\YKQ8\JKQ-VQKJW+hMLKJ_QVbQY\Q`K[KQRKSWKLKQ,K+aML[VJTQYKSJKL WKZMJSYZMKJQ7SJLSZMWVJTKJQ-VQXKLbKS[KJd/QeKLQfL^\JS[KQJSZ^WKQYZMRKLd .IZMQRKL[KQbSWQ1LKZ^Q[NLhPKLQLK[KJd/QeVLZMQKSJKJQ1OSZ^^\JWN^WQ-VLQ]KJY\LYZMNOWVJTQ[KYN^WSXSKLWKQKLQ[KJQU\JSW\LQ[KLQfVgKJPK\PNZMWVJTdQeNYQ,KRSWWKL_ [NYQhPKLQ[KbQ2NJ[K+KO[QVJ[Q[KLQJNMKQTKOKTKJKJQ]WN[WQ*NLJ>fJWQJSK[KLTSJT_QRNLQMK+WSTKLQTKR\L[KJdQIJQVJVJWKLPL\ZMKJKLQ0\OTKQ-VZ^WKJQTLKOOKQ1OSW-KQNVY [KLQYZMRNL-KJQC\O^KJ+L\JWQMKLX\L_QRaMLKJ[QTL\gKQ@NTKO^3LJKLQ[SKQ7PKJKQbSWQKSJKLQRKSgKJQeKZ^KQhPKL-\TKJd IJWKLKYYSKLWQPKWLNZMWKWKQ4;NLSQKSJKQ5KSMKQ+NLPKJcLaZMWSTKLQfV+JNMbKJ_Q`K[KQ^NVbQ-KMJQbNOQ-KMJQ8KJWSbKWKLQbKYYKJ[dQeVLZMQ[SKQ[hJJKJQVONYWS^PO3Z^K_QSJ [SKQYSKQKSJTKYZMb\O-KJQRNLKJ_QRSL^WKJQYSKQVbQKSJQASKO+NZMKYQTL3gKLd .eKSJKQ@KSbNWX/ fWONJQ-3TKLWKQbSWQ[KLQfJWR\LWdQeSKQ1SO[KLQ-KSTWKJQKSJKJQPONVQOKVZMWKJ[KJQVONJKWKJ_QKSJTKPKWWKWQSJQ[SKQYNbWKJKQ]ZMRaL-KQ[KLQWJKJ[OSZM^KSWdQWJ[Q[SKYK CKOWQPKYNgQKSJKJQ^OKSJKJ_Q-KL^Oh+WKWKJQ1KTOKSWKLd .0NYWQRSKQ]KOKWKL+/_QPKbKL^WKQ4;NLSdQ.7SJQYZM3JKLQVONJKW_QKSJKYQ[KLQ^VRKOKJQ[KLQ]ZM3c+VJTdQWJ[Q[SKYKLQPLNVJ>TLhJKQ*\JWSJKJWQTOKSZMWQVNOONJ[Qddd/ .eNYQSYWQf+LS^N/_QYNTWKQfWONJdQ.CNYQ[VQNOYQ^VRKOQPK-KSZMJKYW_QRNLQJSZMWQSbbKLQY\dQeNYQ2KPKJ_Q[NYQ[SKYKQCKOWQMKLX\LTKPLNZMWQMNW_Q+hMLWKQYSKQNJQ[KJQ5NJ[ [KLQAKLJSZMWVJTQddd/Q.eSKQ]\ONJKLQYWNbbKJQX\JQ[\LWX/QXKLbVWKWKQ4;NLSQYc\JWNJdQ.IZMQYKMKQKYQ[SLQNJd/Q.8VbSJ[KYWQ[SKQA\L+NMLKJQXSKOKLQX\JQSMJKJ/_QJSZ^WK [KLQfL^\JS[KdQ.eSKQ7L[KQSYWQbKSJKQ-RKSWKQ@KSbNW9Q]7?7
.eNJJQRSLYWQ[VQXKLYWKMKJ_Q[NgQSZMQNOOKYQWVJQbVg_QVbQ1NLYQ-VQKLMNOWKJd/QeSKQ0LNVQOaZMKOWKdQIMLQ1OSZ^_QSMLKQTNJ-KQ@NOWVJTQRNLQMKLNVY+\L[KLJ[d
fWONJQYNMQYSKQNJ_QYKSJQ,KYSZMWQJNMbQKSJKJQKLYWNVJWKJ_QPKSJNMKQNPRKSYKJ[KJQfVY[LVZ^QNJd
.,KMQ[NQRKT_QYZMJKOO_/
]SKQ-3TKLWK_QRKSOQYSKQJSZMWQXKLYWNJ[dQfV+QKSJKLQ*\JY\OKQJKPKJQSMLQYWNJ[QKSJQ^OKSJKYQ*aYWZMKJdQIJQ[KbQfVTKJPOSZ^QSJQ[KbQKYQYKSJKQ0\LbQXKLaJ[KLWK_QPKTLS++
4;NLS_Q[NgQKYQ^KSJKYRKTYQ-VbQU\PSOSNLQTKM3LWKd
8VLQ*VTKOQTKR\L[KJ_QL\OOWKQ[SKYKYQeSJTQcL\X\-SKLKJ[QONJTYNbQhPKLQ[SKQ*\JY\OKQVJ[Q+SKOQ[NJJQ-VQ1\[KJ_QR\QKYQYSZMQMhc+KJ[Q+\LWPKRKTWKdQWJTOaVPST
POSZ^WKQ4;NLSQSMbQMSJWKLMKL_QRaMLKJ[QYSKQ-VTOKSZMQSMLKJQ*\bPSYWLNMOKLQ-\TQVJ[QKJWYSZMKLWKd
fWONJQ+SKOQSMLQSJQ[KJQfLbdQIbbKLMSJ_Q[NYQYNMQKLQKLYWQ`KW-W_QMNWWKQYSKQ[SKQCN++KQJVLQNV+QVNLNO;YKYWLNMOKJQTKYZMNOWKWd
.eVQRKSgW_QRNYQ[NYQSYWX/
.?KSJd/
eSKQ*VTKOQRVL[KQ-VLQCNO-K_Q[KLKJQ:PKL+OaZMKQSJQYWaJ[STKL_Q+OSKgKJ[KLQ1KRKTVJTQPKTLS++KJQYZMSKJdQIbbKLQJKVKQUVYWKLQVJ[Q0\LbKJQPSO[KWKJQYSZM_QNOYQYSK
SJQ[KLQUSWWKQ[KYQ5NVbKYQXKLMNLLWKd
.eNYQeSJTQ^3JJWKQX\JQfJWS>7]QTKYZMSZ^WQR\L[KJQYKSJ/_QXKLbVWKWKQ4;NLSdQ.CSKQY\JYWQY\OOWKQKYQYabWOSZMKQ]SZMKLMKSWYYcKLLKJQVbQ[SKQ]:2QhPKLRVJ[KJ
MNPKJd/
fVYQ[KLQCNO-KQKJWYWNJ[QRSK[KLQ[NYQ*aYWZMKJ_QRSKQKYQYSZMQNV+Q[KLQ*\JY\OKQPK+VJ[KJQMNWWKdQ7YQRSL^WKQVJTK+aMLOSZMdQ4L\W-[KbQPOSKPQ[SKQ0LNTK_QRSKQKYQJNZM
]:2><SW;QTKONJTWQVJ[QX\LQNOOKb_QYKSWQRNJJQKYQNJQ1\L[QRNLdQ7YQbVgQJSZMWQVJPK[SJTWQKSJQ,KTJKLQYKSJ_QRSYcKLWKQ[KLQ7YWLNYSJJd
eNYQeSJTQYNMQWKZMJSYZMQNVYdQASKOOKSZMWQPKYWNJ[QKYQNVYQPKOSKPSTQXKLaJ[KLPNLKLQ0\LbKJKLTSKd
*VL-Q KJWYZMO\YYKJQ PhZ^WKQ fWONJQ YSZM_Q [\ZMQ KMKQ YKSJKQ 0SJTKLQ [NYQ *aYWZMKJQ PKLhMLWKJ_Q PSO[KWKQ KYQ KSJKQ ASKO-NMOQ RSJ-STKLQ fVYRhZMYK_Q NV+Q [KJKJQ KY
POSW-YZMJKOOQVJWKLQ[KJQJaZMYWYWKMKJ[KJQ]KYYKOQ+OhZMWKWKd
4;NLSQLSK+QhPKLLNYZMWQNVY`
.eNYQ^3JJWKQY\TNLQKSJQ2KPKRKYKJQYKSJdQ*KSJQ5\P\WKLQPKYagKQ[KJQIJYWSJ^W_QYSZMQVJWKLQ[KbQ]KYYKOQ-VQXKLPKLTKJd/
fWONJQJSZ^WKQ^JNccdQ7SJKbQ]ZMLNJ^+NZMQKJWJNMbQKLQKSJQ[\ccKOWQ+NVYWTL\gKYQ]WKVKLTKLaW_QbSWQ[KbQYSZMQKSJQ^OKSJKLQVLNOOYZMSLbQKL-KVTKJQVJ[QYWKVKLJQOSKgd
7SJQ,LSJYKJQMVYZMWKQhPKLQYKSJQ,KYSZMW_QNOYQKLQ[NYQeSJT_Q[NYQJVJQ[SKQ0\LbQKSJKLQcOVbcKJQ]cSJ[KOQPKYNg_QNVYQ[KYYKJQAKLYWKZ^QMKLX\LWLSKPd
]KOWYNbKQ ,KLaVYZMK_Q [SKQ YSZMQ RSKQ XKLMNOWKJKYQ bKJYZMOSZMKYQ 2NZMKJQ NJM3LWKJ_Q KL+hOOWKJQ cO3W-OSZMQ [KJQ 5NVbdQ IbQ JaZMYWKJQ U\bKJWQ RNLQ [SKQ ]cSJ[KO
XKLYZMRVJ[KJ_QNOYQMaWWKQYSKQJSKQKYSYWSKLWd
a
.7YQ[KJ^W/_QKL^OaLWKQ4;NLSQYc\JWNJdQ.*NJJYWQ[VQYKSJKQfJRKYKJMKSWQJ\ZMQRNMLJKMbKJX/
.7YQSYWQSLTKJ[R\QSJQ[KLQ?aMK_Q\MJKQ[NgQSZMQNOOKL[SJTYQYKSJKQfPYSZMWKJQ-VQKL^KJJKJQXKLbNTdQ8VQXSKOQAKLYZMSK[KJKYQTKMWQX\JQ[SKYKbQ,KYZM3c+QNVYd/
fWONJQRNJ[WKQYSZMQ-VbQIJWKL^\bQVbdQ.eNYQSYWQKSJKQfV+TNPKQ+hLQ1O3[KOdQCKJJQ`KbNJ[QMKLNVY+SJ[KJQ^NJJ_QRNYQddd/Q:++KJYSZMWOSZMQKLYWNVJWQVJWKLPLNZMQKLQYSZM
VJ[Q+hMLWKQLNYZMQMSJWKLKSJNJ[KLQKSJKQ5KSMKQX\JQ]ZMNOWVJTKJQ[VLZMd
.eKLQIJWKL^\bQSYWQW\Wd/
fVYQ[KLQAKL^OKS[VJTQ[KYQ,KLaWYQYZM\PQYSZMQKSJQMKOOKYQ0OSbbKLJQMKLX\L_Q[NYQLNYZMQbNWKLSKOOKQ*\JWVLKJQNJJNMbdQIJJKLMNOPQRKJSTKLQ]K^VJ[KJQYZMRKPWK
KSJQ KWRNQ XSKL-STQ bNOQ XSKL-STQ 8KJWSbKWKLQ bKYYKJ[KLQ ChL+KOQ SJQ fVTKJM3MKdQ ]KSJKQ :PKL+OaZMKQ RNLQ RSKQ KSJQ ]cSKTKOdQ fWONJQ YchLWKQ KSJQ OKSZMWKY_Q YSZM
NVYRKSWKJ[KYQ8SKMKJQSJQ[KJQ]ZMOa+KJd .eNQSYWQKYQRSK[KL/_QYWKOOWKQ4;NLSQX3OOSTQhPKL+OhYYSTQ+KYWdQfVZMQYSKQYZMSKJQXKLVJYSZMKLWdQ.7YQ[KJ^W_QNPKLQJ\ZMQ^NJJQSZMQYKSJKQ,K[NJ^KJYWL3bKQJSZMWQLSZMWST KL+NYYKJdQ6QCNLWK_/QLSK+QYSKQYZMJKOO_QNOYQfWONJQJNZMQ[KbQChL+KOQTLKS+KJQR\OOWK_Q[KLQKLJKVWQYKSJKQ0\LbQ-VQXKLaJ[KLJQPKTNJJdQ.7YQ6QSZMQMNPKQ^KSJKJQNJ[KLKJ fVY[LVZ^Q[N+hLQ6QKYQXKLYVZMW_Q[KSJKQ]cLNZMKQ-VQKLOKLJKJd/ V\LWKLQSYWQMNLbO\Y_QPKMNVcWKWKQ[KLQ7YWLNYSJJd V\LWKLXQTNPQfWONJQ-VLhZ^d ]\QJKJJWQKLQYSZMdQ7SJQ0LKVJ[_QYNTWQKL_QMNWQSMJQTKYZMSZ^Wd eKLQfL^\JS[KQYKV+-WKdQCNYQRKSgWQ[VQNVgKL[KbX ?SZMWYd fOObaMOSZMQXKLYZMRNJ[Q[NYQ8SKMKJQVJWKLQ[KLQ]ZMa[KO[KZ^KQRSK[KLdQfWONJQTONVPWK_QKSJKJQ@NVZMQX\JQ7SJYNb^KSWQVJ[Q]KMJYVZMWQRNML-VJKMbKJ_QRNLQYSZM [KYYKJQNPKLQ^KSJKYRKTYQYSZMKLdQV\LWKLQMNWWKQNPKLbNOYQ*VTKO+\LbQNJTKJ\bbKJ9Q[SKQYWSOSYSKLWKJQWbLSYYKQKSJKYQbKJYZMOSZMKJQ,KYSZMWYQ-KSTWKJQYSZMQNV+ YKSJKLQ:PKL+OaZMKdQ]ZMOSKgOSZMQPKTNJJQKLQ-VQLK[KJ_QNPTKMNZ^WQ-RNLQVJ[Q-VJaZMYWQYZMRKLQXKLYWaJ[OSZM_Q[\ZMQbSWQ`K[KbQC\LWQ[KVWOSZMKLQRKL[KJ[_QTNJ-QY\_ NOYQbhYYKQKLQYSZMQNJQ[SKQ2NVW+\OTKQ[KYQIJWKL^\Yb\QKLYWQTKR3MJKJdQ.IZMQMNPKQONJTKQJNZMQ[SLQTKYVZMW_QfWONJ_QVJ[QNVZMQJNZMQ[SL_Q4;NLS_Q[SKQ[VQ[KLQ,NONYSY 1NLYQKJWYWNbbYWdQ7VKLQUSgWLNVKJQbSLQTKTKJhPKLQSYWQVJTKLKZMW+KLWSTWd/
.CKLQPSYWQ[VX/
.eKSJQ-RKSWKYQIZMQJNJJWKQbKSJKJQ?NbKJ_Q[KJQVJYKLQTKbKSJYNbKLQ0LKVJ[QbSLQTNPd/Q.CKLQYZMSZ^WQ[SZMX/
.C3PPK^SJT>?NLb1\Jd/
ZPKLLNYZMWQ-\TQfWONJQ[SKQ1LNVKJQM\ZMdQ7SJQJNZM[KJ^OSZMKLQ8VTQVbYcSKOWKQYKSJKQUVJ[RSJ^KOdQ0LNTKJ[QPOSZ^WKQKLQ4;NLSQNJ_QNPKLQ[SKQ0LNVQ-VZ^WKQJVLQbSWQ[KJ
]ZMVOWKLJdQ7JWRK[KLQ^\JJWKQYSKQV\LWKLYQ,K[NJ^KJQJNZMQRSKQX\LQJSZMWQ^ONLQKL+NYYKJ_Q\[KLQKYQTNPQKWRNY_QRNYQYSKQJSZMWQ-VQ[KVWKJQXKLb\ZMWKd
.C3PPK^SJTQMNWQJSKQX\JQ[SLQTKYcL\ZMKJd/Q.CKYMNOPQY\OOWKQKL/_QKLRS[KLWKQV\LWKLQNVYRKSZMKJ[dQ.IZMQXKL[NJ^KQSMbQXSKOdQ:MJKQSMJQRaLKQSZMQOaJTYWQSJQ`KJKb
5NVbQ\MJKQ]WKLJKQTK+NJTKJd/
eNYQ,KYZM3c+QXKL+\LbWKQYSZMQKLJKVWdQ?VLQYKSJKQVJ+KLWSTQRSL^KJ[KJQ,KYSZMWY-hTKQPOSKPKJQKLMNOWKJd
*NVbQbKL^OSZMQYZMhWWKOWKQ4;NLSQ[KJQ*\c+dQIMLQ1OSZ^QPK[KVWKWKQ[KbQfL^\JS[KJ_QX\LYSZMWSTQ-VQYKSJd
.CSKQPSYWQ[VQSJQ[SKQ]:2QTKONJTWX/Q.C3PPK^SJT>?NLb1\JQTNPQbSLQ[SKQ*LN+WQ[N-Vd/
.CNLVbQ^\bbWQKLQJSZMWQYKOPYWX/QfWONJQ^NJJWKQ[SKQfJWR\LWQNV+Q[SKYKQ0LNTKQSbQX\LNVY_QJVLQR\OOWKQKLQYSKQX\JQV\LWKLQM3LKJdQeNYQCKYKJQPSO[KWKQ-RKSQ4KJWN^KO
NVYQVJ[Q+VZMWKOWKQ[NbSWQSJQ[KLQ2V+WQMKLVbdQ.C3PPK^SJTQSYWQJSZMWQPKLKSW_QSJQ1NLY>=>1NLYQ-VQKLYZMKSJKJdQeNYQSYWQKSJKY_QRNYQKLQ[SLQ[VLZMQbSZMQYNTKJQOagWd/
.IZMQ^NJJQJSZMWQKL^KJJKJ_Q\PQV\LWKLQOhTW/_QOSKgQ4;NLSQKJ[OSZMQXKLJKMbKJdQ.^K[KJ+NOOYQ[KJ^WQKLQYWaJ[STQKWRNYQNJ[KLKY_QNOYQKLQYNTWdQ7YQYZMKSJW_QNOYQRhL[K
KSJKQbKJWNOKQ]cKLLKQYKSJQ,K[aZMWJSYQ-VbSJ[KYWQWKSORKSYKQPO\Z^SKLKJdQ]KSJKQ,K[NJ^KJQ^LKSYKJQJVLQVbQYKSJKQ@KSbNW_Q\MJKQ[NgQSZMQRSL^OSZMQKL+NMLK_QRNY
[NbSWQTKbKSJWQSYWd/
.eVQMNYWQTKM3LW_QRNYQ4;NLSQYNTW/_QRNJ[WKQfWONJQYSZMQRSK[KLQ[KbQbKL^RhL[STKJQ,KYZM3c+Q-VdQ.eVQPLNVZMYWQYZM\JQKSJKQcONVYSPOKQ7L^OaLVJT_QRKJJQRSLQ[SL
XKLWLNVKJQY\OOKJd/Q7LQMSKOWQ`KW-WQYKSJKJQ]WLNMOKLQSJQ[KLQ5KZMWKJdQ.C3PPK^SJT>?NLb1\JQMNWQX\LNVYTKYKMKJ_Q[NgQ[VQbSLQbSgWLNVKJQRhL[KYWdQ7LQTNPQbSLQ[KJ 5NW_Q [SZMQ NJQ UNL^NJWQ OKJ^WKd AKLWLNVKJ_QfWONJ_QSYWQbNJZMbNOQbKMLQRKLWQNOYQ`K[KLQJ\ZMQY\QPKLKZMWSTWQKLYZMKSJKJ[KQ8RKS+KOd/ C\bSWQKLQTNLQJSZMWQVJLKZMWQMNW_QYWSbbWKQ[KLQ7YWLNYSJJQ-VdQ7YQOSKgKJQYSZMQXSKOKQ1KSYcSKOKQ[N+hLQNJ+hMLKJd .eKSJKQ CN++KQ YZMhZMWKLWQ V\LWKLQ JSZMWQ KSJ/_Q YNTWKQ 4;NLSQ SJQ [KbQ U\bKJWdQ .7LQ SYWQ KSJYNbQ VJ[Q YKMJWQ YSZMQ JNZMQ KSJKbQ 2KPKJ_Q RSKQ KYQ +LhMKLQ RNL_Q PKX\L f5<@I47*4QJNZMQYKSJKLQCKOWQTLS++dQ7LQ[KJ^WQ[VLZMNVYQbKJYZMOSZMQVJ[QTONVPWQbNJZMbNO_QJVLQ[KLQ4\[Q^3JJWKQSMJQX\JQYKSJKLQ]KMJYVZMWQKLO3YKJd/ .CKSgWQ[V_QR\MKLQKLQ^\bbWX/ .?KSJdQ7YQSYW_QNOYQRhL[KQKLQYKSJKQ7LSJJKLVJTQNPYSZMWOSZMQXKL[LaJTKJdQ]SKQBVaOWQSMJd/Q.C3PPK^SJT>?NLb1\JQMNWQNOOKJQ]\ONJKLJQX\JQ[KbQTNON^WSYZMKJQ7c\Y PKLSZMWKW_QX\JQ1NLYQVJ[Q0NL;JW_Q[SKQMKVWKQ1NLY>=>1NLYQYSJ[/_QYNTWKQV\LWKLdQ.7LQMNWQbSZMQTKYNJ[W_QVbQKVZMQKSJKQNJ[KLKQ,KYZMSZMWKQ-VQKL-aMOKJQ6Q[SKQX\J ]NJJ;_Q*S^QVJ[QfYTNL[dQIZMQRKSg_QfWONJ_Q[NgQ[VQNJQSMLKbQ]ZMSZ^YNOQSJWKLKYYSKLWQPSYW_Q[NLVbQM3LKQbSLQ-Vd/
23 TUVW XYZ[Z\] ^_`] aZ\bcZcZd] e] f_\g] _[[Z\] h_ijd] kdlZa`ZYf[Ybcm] hjbc] dYbcg\] \j] \Ydd[j\] ^YZ] h_\] XZ`aZcZd] a_dnZ`] Xo[pZ`m] hYZ] ij`] ^ZdYaZd] pj\qY\bcZd VkaZdl[YbpZd]djbc]Yd]hZ`]r[sgZ]Yc`Z`]tdg^Ybp[kda]\g_dhZdu v_`kqw Tx_`]\bc`YZ]\ZYdZ]yZh_dpZd]cYd_k\u]zdhZ\m]h_]^_`]dYZq_dhm]hZ`]\YZ]co`Zd]pjddgZm]hZ`]ij`]_[[Zq]iZ`\g_dhm]^_\]Z\]fs`]hYZ\Z]kdlZa`ZYf[YbcZ]zdgZ[[YaZdn lZhZkgZgZm]aZf_daZd]nk]\ZYdu {`Znn_`]c_ggZ]\Ybc]nk`sbpaZnjaZdm]_lZ`]\ZYdZ]Vd^Z\ZdcZYg]^_`]d_bc]^YZ]ij`]\|s`l_`u]}Z`]zd\gYdpg]ijd]~_`xdg]|[_dgZ]Zg^_\m]h_\]Tx_`]dYbcg]^Y\\Zd]hk`fgZu }_lZY] ^_`] lZYhZ`] öbcYbp\_[] kdg`Zddl_`] qYgZYd_dhZ`] iZ`lkdhZdm] _kbc] ^Zdd] {`Znn_`] h_\] jfg] aZdka] nk] iZ`aZ\\Zd] \bcYZdu] t`] ^_`] kdlZ`ZbcZdl_`] kdh [_kdY\bcu Tx_`] iZ`qY1gZ] hYZ] ~`ZYcZYgm] hYZ] öjddZdm] {[_dZgZd] kdh] 2jdhZm] hYZ] fs`] Ycd] 3o`|Z`] kdh] t`fs[[kda] nka[ZYbc] aZ^Z\Zd] ^_`Zdu] }YZ] 4dZdh[YbcpZYg] c_ggZ] Ycd lZa[ZYgZgm]\ZYg]qYg]hZq]5Ybcg]hZ`]Z`\gZd]_k\]}kdpZ[cZYg]aZlj`ZdZd]öjddZ]ijd]r_`\]ZYd]^YdnYaZ`]TZY[]ijd]Ycq]\Ybc]\ZYdZ`]tÜY\gZdn]lZ^k1g]aZ^j`hZd]^_`u t`]c_ggZ]nk]\|Ýg]`Z_aYZ`gm]h_q_[\m]_[\]hYZ]y_[_ÜY\]3Þßàá]lZajddZd]c_ggZm]\Ybc]r_`\]nk]dÝcZ`dm]kdh]Z`]c_ggZ]fs`]\ZYd]âoaZ`d]qYg]hZ`]ãk_[ij[[Zd]tdaZ]ZYdZ\ |[_dZg_`Zd]yZfÝdadY\\Z\]lZn_c[gu]}_\]Xj[p]hZ`]X[_c`Z\Z`]aYda]kdgZ`]lZY]hZq]iZ`n^ZYfZ[gZd]XZ`\kbcm]h_\][Zgng[Ybc]hjbc]4diZ`qZYh[YbcZ]_lnk^ZdhZdu]VlZ` ^_`]dYbcg]hZ`]Tjh]adÝhYaZ`]_[\]h_\]Ycq]nkaZh_bcgZ]öbcYbp\_[w]Tx_`]_cdgZm]kdh]hYZ\Z]Vcdkda]aZ^_dd]nkdZcqZdh]_d]WZ_[YgÝgm]h_1]Yd]dYbcg]qZc`]fZ`dZ` âkpkdfg]\ZYd]yZY\g]\Ybc]iZ`^Y``Zd]kdh]h_qYg]l[Ydh]^Z`hZd]^s`hZ]fs`]hYZ]öbcodcZYgZd]hZ`]öbco|fkdau]zd]ZYdZ`][ZgngZdm]iZ`n^ZYfZ[gZd]3`_fg_d\g`Zdakda]c_ggZ Z`]ZYd]vZ\Zd]Z`nZkagm]ijd]hZq]Z`]\Ybc]äY[fZ]iZ`\|`_bcå]Tx_`Yu }YZ]zdgZ[[YaZdn]ijd]r_`\]\bc`YZ]Yc`Z]~k`bcg]cYd_k\u]Xj`]dYbcg]_[[nk][_daZ`]âZYg]cÝggZ]\YZ]\j]öjddZd]Yd]æji_Z]iZ`^_dhZ[d]poddZdu]ÞZgng]^_`]\YZ]\bc^_bcu æYZq_dh]co`gZ]\YZ]e]dYZq_dh]_k1Z`]{`Znn_`m]kdh]hZ`]iZ`\g_dh]dYbcgm]^_\]^Y`p[Ybc]aZ\bc_cu]}_lZY]^Ý`Zd]\YZ]aZqZYd\_q]iYZ[[ZYbcg]\g_`p]aZdka]aZ^Z\Zdm hZq]yZadZ`]nk]^YhZ`\gZcZdu }jbc]h_\]^_`][Ýda\g]XZ`a_daZdcZYg]uuu ç öZ[l\g] Yd] hZ`] âZdg`kq\`ZaYjd] ijd] r_`\ßèßr_`\] \g_dhZd] hYZ] öjddZd] dYbcg] \j] hYbcg] ^YZ] Yq] 3Z`d] q_dbc] _dhZ`Z`] y_[_ÜY\u] }_\] ^_`] ZYdZ`] hZ`] y`sdhZm ^Z\c_[l] r_`\] kdh] ~_`xdg] nk\_qqZdaZfsc`g] ^j`hZd] ^_`Zdu] Vkbc] c_ggZ] hYZ] {j|k[_gYjd] slZ``_\bcZdh] ^ZdYa] _[gZ] ögZ`dZ] _kfnk^ZY\Zdm] hZ`Zd cx|Z`ZdZ`aZgY\bcZ] ög`_c[kda\|ZaZ[] lZ\jdhZ`Zd] ögo`f_pgj`Zd] kdgZ`^j`fZd] aZ^Z\Zd] ^Ý`Zdu]VdaZ`Zag] hk`bc] hYZ] rZjl_bcgkdaZd] Yq] {`Znn_`ß2xhjdYkq c_ggZ]ö_ddx]YqqZ`]dZkZ]|_`_q_gcZq_gY\bcZ]rZ`ZbcdkdaZd]Z`\gZ[[g]kdh]^YZhZ`]iZ`^j`fZdm]^_`]_lZ`]qYg]hZ`]Yc`]ZYaZdZd]4dZ`qsh[YbcpZYg]nk]hZq]öbc[k1 aZ[_dagm] h_1] Z\] dYbcg] dk`] qoa[Ybc] ^_`m] ijd] lZ\gYqqgZd] é`gZd] hZ`] }j||Z[a_[_ÜY\] _k\] tYdl[Ybp] Yd] hYZ] æ_qZd[j\Z] âjdZ] nk] dZcqZdm] \jdhZ`d] h_1] Z\ êlZ`aÝdaZ]a_lm]hYZ]ZYd]äYdslZ`^Zbc\Z[d]ijd]ZYdZq]W_kq]Yd]hZd]_dhZ`Zd]Z`qoa[YbcgZdu]ö_ddx]Z``ZbcdZgZ]^ZYgZ`m]h_1]aZd_k]hYZ\]hZ`]Vd[_1]fs`]äYhhZdß ëm]hZ`]\Ybc]h_q_[\]djbc]VWìäzTt3T]jhZ`]V552VìäT]d_ddgZm]aZ^Z\Zd]^_`m]r_`\]kdh]~_`xdg]YdZYd_dhZ`]nk]iZ`_dpZ`du]}YZ]ZdZ`aZgY\bcZd]XZ`cÝ[gdY\\Z lZYhZ`]y_[_ÜYZd]^_`Zd]aZ`_hZnk]YhZ_[í]hYZ]vZbc\Z[^Y`pkdaZd]n^Y\bcZd]hZd]ZYdnZ[dZd]öjddZd]kdh]ij`aZ[_aZ`gZd]3kaZ[\gZ`dc_kfZd]qk1gZd]ZYdZ]XYZ[n_c[ cx|jgcZgY\bcZ`]Vkf`Y1f`jdgZd]Z`nZkag]c_lZdu]zdfj[aZ]hZ`]lZYlZc_[gZdZd]tYaZd`jg_gYjd]hZ`]ögZ`d\x\gZqZ]qjbcgZ]\Ybc]îZhjbc]q_dbcZ`]êlZ`a_da]_[\]Yd\g_lY[ jhZ`]nZYg[Ybc]lZa`Zdng]Z`^ZY\Zdu]V[[ZYd]h_`_k\]`Z\k[gYZ`gZ]hYZ]t`fj`hZ`dY\m]_kf]gZbcdY\bcZ`]r_\Y\]fs`]ZYdZ]ög_lY[Y\YZ`kda]nk]\j`aZdu ï}k]^Y[[\g]d_bc]ZYdZq]\j[bcZd]e]Ýc]e]êlZ`a_da]\kbcZdm]dYbcg]^_c`ðm]lZqZ`pgZ]3Ypm]`YbcgZgZ]\Ybc]_kf]n^ZY]\ZYdZ`]fsdf]rZYdZ]_kf]kdh]fkbcgZ[gZ]qYg]hZd _dhZ`Zd]YdgZ`Z\\YZ`g]ij`]\ZYdZq]3o`|Z`]cZ`kqu ït\]^Ý`Z][jaY\bcm]hYZ\Z]é`gZ]_[\]æ_lZ[]nk]lZnZYbcdZdðm]dYbpgZ]ö_ddxu]ïzqqZ`cYd][YZag]hYZ]æ_qZd[j\Z]âjdZ]ZdgaZaZd]hZ`]3`sqqkda]kd\Z`Z`]W_kqßâZYgß ög`kpgk`]uuuð ïäo`]_kf]h_qYgðm]^Zc`gZ]hZ`]X[_c`Z\Z`]_lu]ïtc`[Ybc]aZ\_agm]iZ`\gZcZ]Ybc]dk`]hYZ]äÝ[fgZ]ijd]hZqm]^_\]hk]ijd]hY`]aYl\guð]t`]nja]hYZ]2j[__gYd]_d]\Ybc]kdh \g`Ybc]ij`\YbcgYa]slZ`]Yc`Zd]hYbcgZd][Ydha`sdZd]{Z[nu]vZdd]Z`]\Ybc]_kf`YbcgZgZm]pjddgZ]Z`]ö_ddx]qscZ[j\]kdgZ`]\ZYdZq]3o`|Z`]iZ`lZ`aZdu ï5_1]h_\ðm]\bcYq|fgZ]\YZu]ï}k]l`Yda\g]qYbc]io[[Ya]hk`bcZYd_dhZ`uð 3Yp]ij[[fsc`gZ]ZYdZ]cZfgYaZ]rZ^Zakdam]kdh]hYZ]\bc[_a_`gYa]ZYd\ZgnZdhZ]öbc^Z`Z[j\YapZYg][YZ1]Ycd]\Ybc]kdpjdg`j[[YZ`g]slZ`\bc[_aZdu]âkq]y[sbp]hk`bcq_1 hZ`]äjc[`_kq]Yd]V\a_`h\]zddZ`Zq]dk`]h`ZY]2ZgZ`m]\j]h_1]hZ`]X[_c`Z\Z`]`_\bc]^YZhZ`]ä_[g]f_dhu]3j|fslZ`]`YbcgZgZ]Z`]\ZYd]a`j1Z\]VkaZd|__`]_kf]hYZ 2j[__gYdu]ïä_\g]hk]h_\]Zg^_]_kbc]lZ`ZbcdZgwð]ïæ_gs`[Ybcu]V\a_`h]^j[[gZ]hY`]dk`]nk]iZ`\gZcZd]aZlZdm]h_1]hk]qYbc]dYbcg]lZcYdhZ`d]\j[[\guð ï5_da\_q]^Y`\g]hk]qY`]kdcZYq[Ybcðm]aZ\g_dh]3Ypm]\gYZ1]\Ybc]\_dfg]_l]kdh]p_q]kdqYggZ[l_`]dZlZd]ö_ddx]_kfu]2Yg]n^ZY]\ZYdZ`]y[YZhq_1Zdm]hYZ]fs`]Ycd]V`qZ kdh]rZYdZ]nka[ZYbc]^_`Zdm]fkc`]Z`]\Ybc]hk`bc]hYZ]^Y``Zdm]`jgZd]ä__`Zm]hYZ]\ZYdZd]3j|f]f_\g]io[[Ya]lZhZbpgZdu ïä_lZd]^Y`]dkd]ZYdZd]æ_lZ[]aZfkdhZd]jhZ`]dYbcgwð]^j[[gZ]Z`]^Y\\Zdu ïzbc] hZdpZ] \bcjdðm] dYbpgZ] hYZ] {_`_q_gcZq_gYpZ`Ydu] ï}YZ\Z`] öZpgj`] d_cZ] hZ`] êlZ`[_||kda\njdZ] ijd] r_`\] kdh] ~_`xdg] ^ZY\g] qZc`Z`Z] ZdZ`aZgY\bcZ rZ\jdhZ`cZYgZd]_kfuð]ïöj[[Zd]^Y`]Vg[_d]ijd]kd\Z`Z`]tdghZbpkda]Ydfj`qYZ`Zdwð ïæYbcg]\j[_daZ]hYZ]Zdhas[gYaZ]yZ^Y1cZYg]fZc[gu]vY`]lZ\bc`ÝdpZd]kd\]jcdZcYd]dk`]_kf\]rZjl_bcgZduð ç }j||Z[\jddZdm]hYZ]ZYdZd]aZqZYd\_qZd]öbc^Z`|kdpg]kqp`ZY\gZdm]^_`Zd]n^_`]ZYdZ]_\g`j|cx\Yp_[Y\bcZ]öZ[gZdcZYgm]pZYdZ\f_[[\]_lZ`]\j]kdaZ^ocd[Ybcm]h_1 _[[ZYd]\bcjd]Yc`Z]tÜY\gZdn]hZd]aZ^_agZ\gZd]XZ`qkgkdaZd]Xj`\bckl]aZ[ZY\gZg]cÝggZu]}_1]ZYdZ]ijd]lZYhZd]ZYd]`jgZ`]WYZ\Z]^_`m]hYZ]_dhZ`Z]cYdaZaZd]ZYd io[[Ya]dj`q_[Z`]aZ[lZ`]ögZ`d]qYg]élZ`f[ÝbcZdgZq|Z`_gk`Zd]dk`]^ZdYa]slZ`]ñòòò]y`_hm]^_`]ZlZdf_[[\]p_kq]h_nk]_daZg_dm]XZ`h_bcg]nk]Z``ZaZdu]t`\g]_[\
ö_ddx] hZd] ZYdnYaZd] rZa[ZYgZ`] hYZ\Z`] lZYhZd] öjddZd] ZdghZbpgZm] ^k1gZ] \YZm] h_1] \YZ] Yc`] âYZ[] Z``ZYbcg] c_ggZu] }YZ\Z] vZ[gm] hZ`Zd] }k`bcqZ\\Z`] pd_|| n^ZYg_k\Zdh] 3Y[jqZgZ`] lZg`kam] ^_`] ZYaZdg[Ybc] p_kq] _[\] {[_dZg] nk] lZnZYbcdZdm] ZcZ`] _[\] 2jdhm] hZ`] Y`aZdh^_dd] ijd] hZd] kdaZ^ocd[YbcZd öbc^Z`p`_fgiZ`cÝ[gdY\\Zd]ZYdaZf_daZd]^j`hZd]^_`u]t`]kqp`ZY\gZ]hYZ]öjddZd]_kf]hZ`]r_cd]ZYdZ`][_daaZ\g`ZbpgZdm]Z[[Y|gY\bcZd]Vbcgm]hZ`Zd]öbcdYgg|kdpg YhZdgY\bc]^_`]qYg]hZq]aZqZYd\_qZd]öbc^Z`|kdpg]hZ\]öx\gZq\u ïÞZhZ]a`o1Z`Z]2_\\Zðm]\gZ[[gZ]ö_ddx]fZ\gm]ï^s`hZ]kdgZ`]hZ`]tYd^Y`pkda]hZ`]kdgZ`\bcYZh[YbcZd]3`ÝfgZ]nZ`l`ZbcZduð ï}k]qZYd\gm]h_1]Z\]\Ybc][jcdgm]hYZ\Z`]vZ[g]ZYdZd]rZ\kbc]_lnk\g_ggZdwð]f`_agZ]3Yp]noaZ`dhu]z`aZdh^YZ]p_q]Z`]\Ybc]slZ`f[s\\Ya]ij`u]vZhZ`]pjddgZ]Z` Z`pZddZdm]^_\]h`_k1Zd]Yq]vZ[g`_kq]aZ\bc_cm]djbc]^_`]Z`]Yd]hZ`]5_aZm]_d]ö_ddx\]rZ`ZbcdkdaZd]gZY[nkc_lZdu]ïö_aZ]V\a_`hm]h_1]Z`][_dhZd]\j[[uð ï4d\Z`]~`Zkdh]f[YZag]hZd]2jdh]lZ`ZYg\]_dðm]dYbpgZ]hYZ]2j[__gYdu ïvZdd]hZYdZ]rZ`ZbcdkdaZd]\gYqqZdm]Y\g]\ZYdZ]2_\\Z]nk]aZ`Ydam]kq]ZYdZ]Vgqj\|cÝ`Z]fZ\gnkc_[gZdðm]a_l]3Yp]nk]lZhZdpZdu]ïvY`]^Z`hZd]V\a_`h]dYbcg iZ`[_\\Zd]poddZduð]öYZ]qZ`pgZd]dYbcg\]h_ijdm]jl]Yc`]j`a_dY\bcZ\]W_kq\bcYff]lZ\bc[ZkdYagZ]jhZ`]_ll`Zq\gZu]}YZ]fsdf]2ZgZ`]hk`bcqZ\\ZdhZ]3kaZ[]^_` d_bc]hZq]vY[[Zd]ijd]VdgYßtö]kdh]\ZYdZq]f`scZ`Zd]äZ[fZ`]VdgYßäjqkdp]aZfj`qgm]hk`bc]h_\]tYd^Y`pZd]ijd]Vg[_d\]tÜg`_\Ydd]îZhjbc]qYg]ZYdZ`]|j\YgYiZd 2Zdg_[YgÝg]_k\aZ\g_ggZg]^j`hZdu]tYaZdg[Ybc]lZ\g_dh]V\a_`h]_k\]ZYdZ`]ZYdZd]2ZgZ`]hYbpZd]3kaZ[\bc_[Zm]hYZ]\ZYdZ]ä_kgm]\ZYdZ]é`a_dZm]hZ`]öYgn]\ZYdZ` zdgZ[[YaZdn]^_`u]zd]hZq]äjc[`_kq]Yd]\ZYdZq]zddZ`d]pjddgZ]Z`]lZ[YZlYaZ]Vgqj\|cÝ`Zd]Z`nZkaZd]kdh]_kbc]Z`c_[gZdu vZdYaZ`]_[\]ZYdZ]ögkdhZ]qjbcgZ]iZ`a_daZd]\ZYdm]_[\]\Ybc]kdiZ`qYggZ[g]hYZ]3kaZ[cs[[Z]offdZgZu]æjbc]ZcZ]ö_ddx]Vd\g_[gZd]g`_fm]V\a_`h]nk]iZ`[_\\Zdm]^_`]3Yp lZ`ZYg\]_kf]\ZYdZd]fsdf]rZYdZd]_d]Yc`]ij`lZYaZ\g_pgu ï}YZ]5kfg]Y\g]_gZql_`ðm]`YZf]Z`]ijd]h`_k1Zd]kdh]lZa_ddm]Yd]hZ`]^ZYbcZdm]l[_kZd]y`_\d_`lZ]cZ`kqnk^sc[Zdu]VkaZdl[YbpZ]\|ÝgZ`]cYZ[g]Z`]_l`k|g]YddZm]p`_gngZ \Ybc]\ZYdZ]ä__`Zu]ïWYbcgYau]V\a_`h]cÝggZ]kd\]^jc[]p_kq]hZd]vZa]f`ZYaZaZlZdm]^Zdd]hZq]dYbcg]\j]^Ý`Zuð]öYZ]^_`fZd]n^ZY]öbc_ggZd]e]ZYdZd][_daZdm ^ZYbcZdm]hZ`]_d]hZd]WÝdhZ`d]f_\g]qYg]hZ`]äZ[[YapZYg]hZ\]T_aZ\]iZ`\bcqj[nm]kdh]ZYdZd]^ZYg_k\]ps`nZ`Zdm]îZhjbc]\bc_`f]_laZa`ZdngZdu]}Z`]`jgZ]WYZ\Z]\gYZa \jZlZd]_[\]y[kgl_[[]slZ`]hZd]äj`Ynjdg]cZ`_kfu]}YZ]5Ybcgl`Zbckda]hZ`]Vgqj\|cÝ`Z]qjbcgZ]h_\]Yc`Z]h_nk]lZYg`_aZdm]h_1]Z`]d_cZnk]hYZ]c_[lZ]äZqY\|cÝ`Z _k\fs[[gZu] }YZ] aZ[lZ] öjddZ] \g_dh] kq] pd_||] áóò] y`_h] ZdgaZaZdaZ\Zgng] kdh] dZYagZ] \Ybc] hZq]VlZdh] nku] zd] Yc`Zq] vYhZ`\bcZYd] Z`\g`_c[gZ] ZYd] fZ`dZ` yZlY`a\nkam]_[\]lZ\gsdhZ]Z`]_k\]`ZYdZq]y[_\u]}_\]y[ZY1Zd]kdh]~kdpZ[d]ijd]hj`g]\bcqZ`ngZ]Yd]hZd]VkaZdu ï2j`aZd] kq] hYZ\Z] âZYg] ^Z`hZd] hYZ] öjddZd] ZYd_dhZ`] aZd_k] aZaZdslZ`\gZcZdðm] \_agZ] ö_ddxu] ï}_dd] g`Ygg] hZ`] {[_dZg] Yd] hZd] öbcdYgg|kdpg] Yc`Z` VdnYZckda\p`ÝfgZ]ZYduð ïvY`]dZddZd]Ycd]â^YZ[Ybcgm]dYbcg]^_c`ðm]\bc[ka]3Yp]ij`u ö_ddx]c_ggZ]dYbcg\]h_aZaZd]ZYdnk^ZdhZdm]kdh]V\a_`h]\Yad_[Y\YZ`gZ]\ZYd]tYdiZ`\gÝdhdY\]hk`bc]ZYdZd]`_\bcZd]~_`l^Zbc\Z[]\ZYdZ`]élZ`f[ÝbcZu ï}YZ\Z]vZ[g]Y\g]Zg^_\]rZ\jdhZ`Z\ðm]lZc_k|gZgZ]hYZ]2j[__gYdu]ïzbc]p_dd]Z\]dkd]hZkg[YbcZ`]lZ`ZbcdZd]_[\]nkij`u]öYZ]lY`ag]ZYd]yZcZYqdY\m]h_\]fs`]kd\]ijd zdgZ`Z\\Z]Y\guð]V\a_`h]c_ggZ]_[\]5_dhZ|[_gn]ZYdZ]dYbcg]\jdhZ`[Ybc]_k\aZhZcdgZ]äjbcZlZdZ]aZ^Ýc[gm]hZ`Zd]XZaZg_gYjd]slZ`^YZaZdh]_k\]dYZh`YaZq]y`_\ lZ\g_dhu]t`\g]nk]hZd]\gZY[]_lf_[[ZdhZd]WÝdhZ`d]cYd]^kbc\Zd]l[scZdhZ]ög`ÝkbcZ`]kdh]iZ`ZYdnZ[g]\ja_`]pZaZ[fo`qYaZ]rÝkqZm]hZ`Zd]5_kl]\bcjd]kdqYggZ[l_` slZ`] hZq] rjhZd] slZ`_k\] hYbcg] ^_`u] ÞZ] cocZ`] hYZ] `jgZ] öjddZ] \gYZam] hZ\gj] hZkg[YbcZ`] iZ`ÝdhZ`gZd] \Ybc] hYZ] ~_`lZd] lY\] cYd] nk] ZYdZq] p`ÝfgYaZd] r[_ku rZ\g_dhgZY[Z]ijd]thZ[a_\Zd]Yd]hZ`]Vgqj\|cÝ`Z]qjbcgZd]fs`]hZd]tffZpg]iZ`_dg^j`g[Ybc]\ZYdu]ö_ddx]\gZ[[gZ]fZ\gm]h_1]hYZ]öbc^Z`p`_fg]fs`]hYZ\Z]p[ZYdZ]vZ[g iYZ[]nk]cjbc]^_`u]VlZ`]iYZ[[ZYbcg]lZ\g_dh]h_\]zddZ`Z]hZ\]{[_dZgZd]_k\]t[ZqZdgZd]ijd]kdaZ^ocd[Ybc]cjcZ`]}YbcgZu]}_qYg]^Ý`Z]h_\]Xj`c_dhZd\ZYd]hZ` Vgqj\|cÝ`Z]nk]Z`p[Ý`Zd]aZ^Z\Zdu r[kg`jg] \bc[ÝdaZ[gZ] \Ybc] h_\] r_dh] ZYdZ\] ~[k\\Z\] hk`bc] hYZ] gYZfZ`] aZ[ZaZdZ] 5_dh\bc_fgu] Vk\aZhZcdgZ] vÝ[hZ`] lZcZ``\bcgZd] h_\] rY[hm] _lZ`] _kbc \gZ||ZdÝcd[YbcZ]WZaYjdZd]kdh]h_n^Y\bcZd]iZ`ZYdnZ[g]p_c[Z]~[ZbpZdm]_d]hZdZd]d_bpgZ`]~Z[\]nkg_aZ]g`_gu]3ZYdZ]ö|k`]ijd]rZ\YZh[kda]jhZ`]hZq]vY`pZd YdgZ[[YaZdgZd]5ZlZd\u]4`^sbc\YapZYg]^_`]ij`cZ``\bcZdhu]3Yp]ZdghZbpgZ]hZd]hkdp[Zd]{kdpg]_q]äj`Ynjdgm]hZ`]\Ybc][_da\_q]nk]lZ^ZaZd]\bcYZdm]_[\]Z`\gZ`u Vkf]hYZ]tdgfZ`dkda]cYd]l[YZl]kdp[_`m]kq]^_\]Z\]\Ybc]c_dhZ[gZu ïzbc]c_ggZ]jcdZcYd]ij`m]â^YZ[Ybcg]dÝcZ`]nk]Z`fj`\bcZdðm]\_agZ]ö_ddxu]ïvZ\c_[l]\j[[gZd]^Y`]dYbcg]Yd]hYZ\Z`]WYbcgkda]_df_daZduð ç V\a_`h][YZ1]ZYdZ]5sbpZ]Yd]\ZYdZ`]äs[[Zm]\j]h_1]\ZYdZ]lZYhZd]{_\\_aYZ`Z]lZãkZq]Vk\\bc_k]c_[gZd]pjddgZdu]}Z`]{kdpg]_q]äj`Ynjdg]Zdg|k||gZ]\Ybc]\bcjd l_[h]_[\]äZ`hZ]qjd\g`o\Z`]TYZ`Zm]hYZ]\Ybc]hk`bc]hYZ]4fZ`_kZd]ZYdZ\]~[k\\Z\]^Ý[ngZdu]tg^_]fsdfnYa]tÜZq|[_`Z]^_`Zd]Z\m]hZ`Zd]a`j1f[ÝbcYaZ]{_dnZ`|[_ggZd ZYdZ]dYbcg]nk]slZ`co`ZdhZ]yZ`Ýk\bcpk[Y\\Z]Z`nZkagZdu]öYZ]^_`Zd]{f[_dnZdf`Z\\Z`u]2Yg]Yc`Zd]l`ZYgZd]öbcÝhZ[d]\bcYZd]Z\]YcdZd]ZYd][ZYbcgZ\m]\Z[l\g]\g_`pZ rÝkqZ]nk]Zdg^k`nZ[du]ïöYZ]fj[aZd]hZq]5_kf]hZ`]`jgZd]öjddZðm]\gZ[[gZ]ö_ddx]fZ\gu]ïVlZ`]\YZ]\Ydh]iYZ[]nk][_da\_qu]XZ`qkg[Ybc]iZ`f_[[Zd]\YZ]Yd]zd_pgYiYgÝgm \jl_[h]h_\]2kggZ`aZ\gY`d]^YZhZ`]cYdgZ`]hZq]äj`Ynjdg]iZ`\Ydpguð V\a_`h]aYda]gYZfZ`u]tYdZ\]hZ`]TYZ`Z]cjl]`kbp_`gYa]hZd]öbcÝhZ[]kdh]\|ÝcgZ]_k\]\ZYdZd]\Zbc\]a`j1Zdm]cZ`ij`ãkZ[[ZdhZd]VkaZd]nk]YcdZd]cZ`_kfm]^Ýc`Zdh hYZ]_dhZ`Zd]\Ybc]dYbcg]Yq]aZ`Yda\gZd]\go`Zd][YZ1Zdu T`ÝaZ]njaZd]\YZ]hk`bc]hYZ]\bc[_qqYaZ]4fZ``ZaYjdu]æk`]h_\]ZYdZ]TYZ`]\g_``gZ]V\a_`h]djbc]ZYdZ]vZY[Z]cYdgZ`cZ`m]lY\]Z\]\Ybc]\bcZYdl_`]kd^Y[[Ya]^YZhZ`]Yd rZ^Zakda]\ZgngZu]â^YZ[Ybcg]lZ\g_dh]_k\]ZYdZ`]kqf_\\ZdhZd]5_dhf[ÝbcZm]hYZ]cYd]kdh]^YZhZ`]ijd]_k\aZhZcdgZd]öZZd|[_ggZd]kdgZ`l`jbcZd]^k`hZu]t\]a_l pZYdZ]_k\aZ\|`jbcZdZd]XZaZg_gYjd\njdZdu]v_[haZlYZgZ]kdh]ögZ||Zd]^Zbc\Z[gZd]ZYd_dhZ`]Yd][jbpZ`Z`]~j[aZ]_lm]^j`_d]dYbcg]nk[Zgng]hYZ]a[ZYbcqÝ1YaZ tYd\g`_c[kda]lZYhZ`]öjddZd]öbck[h]c_ggZu]t\]^_`]^_`q]_kf]hYZ\Z`]vZ[gu]~ZkbcgYapZYg]cYda]slZ`]hZd]~[s\\Zd]kdh]öZZd]^YZ]ZYd]hsddZ`]æZlZ[u æ_bc] hZ`] h`YggZd] 4q`_dhkda] \g_dh] fs`] 3Yp] fZ\gm] h_1] pZYd] ögsgn|kdpg] `_kqf_c`ZdhZ`] W_\\Zd] _kf] â^YZ[Ybcg] ZÜY\gYZ`gZu] }YZ] vY[hdY\] ^_`] kdlZ`sc`gu] 2Yg Vk\d_cqZ]hZ`]aZ|_dnZ`gZd]TYZ`Z]\bcYZd]Z\]_kbc]pZYdZ]a`o1Z`Zd]5ZlZ^Z\Zd]nk]aZlZdu ïzbc]^ZY1]dYbcgðm]\_agZ]ö_ddxu]ï}YZ\Z]vZ[g][YZag]\j]d_cZ]_d]hZ`]êlZ`[_||kda\njdZ]ijd]r_`\]kdh]~_`xdgm]h_1]nkqYdhZ\g]Yq]âkaZ]hZ`]pÝq|fZ`Y\bcZd Vk\ZYd_dhZ`\ZgnkdaZd] W_kq\bcYffZ] hZd] vZa] cYZ`cZ`] aZfkdhZd] c_lZd] qs\\Zdu] tYdZd] YhZ_[Z`Zd] Xj`|j\gZd] p_dd] Ybc] qY`] p_kq] ij`\gZ[[Zdm] nkq_[] Yq 4qp`ZY\]ijd]ZYdYaZd]5Ybcgî_c`Zd]pZYdZ]^ZYgZ`Zd]öjddZd\x\gZqZ]\gZcZduð]öYZ]l_g]V\a_`hm]_q]W_dh]ZYdZ`]hZ`]p_c[Zd]~Z[\f[ÝbcZd]nk][_dhZdm]hYZ]dk`]hk`bc ZYdZd] \bcq_[Zd] rk\bc\g`ZYfZd] ijq] kqaZlZdhZd] äjbc^_[h] aZg`Zddg] ^_`u] ï2_a] \ZYdm] h_1] VdgZ`fZ``_dgZ`] jhZ`] rZdZgZ`[jaZd] \Ybc] _k\] ~k`bcg] ij` tdghZbpkda]Yd\]{[_dZgZdYddZ`Z]lZaZlZd]c_lZdu]zc`Z]TZbcdYp]Y\g]^ZYg]aZdka]Zdg^YbpZ[guð
ï}_dd]qs1gZd]\YZ]kd\][Ýda\g]lZqZ`pg]c_lZd]kdh]_da`ZYfZdm]dYbcg]^_c`uð]4d\bc[s\\Ya]^ZhZ[gZ]3Yp]qYg]n^ZY]V`qZdu]ïÞZhZ`]^s`hZ]kd\]fs`]hYZ]yZadZ` c_[gZdm]hYZ]\ZYdZ]qY1[YbcZ]5_aZ]iZ`\bck[hZg]c_lZdu]4dh]^Zdd]\YZ]\bcjd]ijd]Vg[_d\]~`YZhZd\lZqsckdaZd]iZ`djqqZd]c_lZd]uuuð ïâ^YZ[Ybcg] c_fgZg] Zg^_\] rZ\jdhZ`Z\]_dðm]kdgZ`l`_bc]hYZ]2j[__gYdu]ïXYZ[[ZYbcg]gÝk\bcZ]Ybc]qYbcm]kdh]Z\]aYlg]g_g\Ýbc[Ybc]pZYdZ]ög_gYjd]cYZ`m] _lZ`]a_dn \YbcZ`]^Y`h]hYZ]qj`aYaZ]3jd\gZ[[_gYjd]n^Y\bcZd]lZYhZd]öjddZd]kdh]hZq]{[_dZgZd]nk]_k1Z`aZ^ocd[YbcZd]t`ZYadY\\Zd]fsc`Zduð æYbcg]ZYd]y`_\c_[q]`_agZ]n^Y\bcZd]hZd]~Z[\Zd]_kfu]3d_||]ckdhZ`g]2ZgZ`]hk`bcq_1]hYZ]p_c[Z]~[ÝbcZm]hZ`Zd]4q`Y\\Z]\j]kd`ZaZ[qÝ1Ya]^_`Zdm]h_1]\YZ]dk` nkfÝ[[Ya]Zdg\g_dhZd]\ZYd]pjddgZdu]}_\]yZ[ÝdhZ]\ZdpgZ]\Ybc]nk`]2YggZ]cYd]_lu âoaZ`dh]\g`ZbpgZ]3Yp]n^ZY]V`qZ]_k\m]kq]ZYdZd]ögZYd]_d]\Ybc]nk]dZcqZdm]hZd]Z`]h_dd]_l\bcÝgnZdh]ij`]\ZYdZd]VkaZd]h`ZcgZu]4diZ`qYggZ[g]l`_bc]hZ`]ögZYd _k\ZYd_dhZ`]kdh]a_l]ZYdZ]XYZ[n_c[]^YdnYaZ`]äjc[`ÝkqZ]f`ZYu]ïäZðm]q_bcgZ]3Yp]slZ``_\bcg]kdh]a`Yff]d_bc]ZYdZq]^ZYgZ`Zd]r`jbpZdm]hZ`]Ycq]ZlZdf_[[\]nk [ZYbcg]Z`\bcYZdu ö_ddx] \bcs`ngZ] hYZ] 5Y||Zdu] ïV[\] ^Ý`Z] ZYd] lZ\gYqqgZ\] 2YdZ`_[] cZ`_k\aZ[o\g] ^j`hZdðm] \_agZ] \YZu] ï2Ybc] YdgZ`Z\\YZ`gm] jl] hYZ] a`j1Zd] ~Z[\Zd] ZlZdf_[[\ l`sbcYa]\Ydhuð tcZ]3Yp]\YZ]nk`sbpc_[gZd]pjddgZm]c_\gZgZ]\YZ]ij`^Ý`g\u]zc`]tYfZ`m]Zdh[Ybc]Zg^_\]aZfkdhZd]nk]c_lZdm]^_`]Yc`Z]XZ`qkgkda]lZ\gÝgYaZd]pjddgZm][YZ1]\YZ]îZhZ Xj`\Ybcg]iZ`aZ\\Zdu]3Yp]h_bcgZ]h_]_dhZ`\u ïv_\]cÝ[g\g]hk]h_ijdwð]^_dhgZ]Z`]\Ybc]_d]V\a_`hu]ï2Y`]Y\g]â^YZ[Ybcg]kdcZYq[Ybcuð]Vkf]hZ`]Vk1Zdcs[[Z]hZ`]3kaZ[]Zdg\g_dh]h_\]VllY[h]hZ`]lZYhZd]öjddZdu }YZ]iYZ[f_bc]aZ^kdhZdZdm]nkq]TZY[]YdZYd_dhZ`]iZ`\bc[kdaZdZd]5YdYZd]\j[[gZd]^jc[]hYZ]ög`_c[kda\iZ`cÝ[gdY\\Z]h_`\gZ[[Zdu ï}k]qZYd\gm]hYZ]öjddZd]iZ`kd\YbcZ`d]qYbcwð V\a_`h]lZ\gÝgYagZ]h_\u ö_ddx]^_`]\gZcZdaZl[YZlZdm]c_ggZ]n^ZY]jhZ`]h`ZY]a`o1Z`Z]ögZYdZ]nZ`l`jbcZd]kdh]^_dhgZ]\Ybc]dkd]kqu]tYd]nkf`YZhZdZ\]5ÝbcZ[d]ck\bcgZ]slZ`]Yc`]yZ\Ybcgu ït\]Y\g]^YZ]Ybc]_daZdjqqZd]c_lZðm]`YZf]\YZu]ïtYd]Ýk1Z`Z`]tYdf[k1]c_g]hYZ]ögZYdZ]iZ`ÝdhZ`gu]XYZ[[ZYbcg]\Ydh]ij`]a_`]dYbcg]_[[nk][_daZ`]âZYg]W_kq\bcYffZ]cYZ` aZ[_dhZguð ïuuu]kdh]^YZhZ`]aZ\g_`gZgm]dYbcg]^_c`ðm]fsagZ]3Yp]cYdnku tYd][ZY\Z\]\bc_lZdhZ\]yZ`Ýk\bc]Z`p[_dau]3Yp]a[_klgZm]h_1]hZ`]rjhZd]kdgZ`]\ZYdZd]fsdf]rZYdZd]iYl`YZ`gZu }_\]yZ`Ýk\bc]iZ`ÝdhZ`gZ]\Ybc]nkq]_d\bc^Z[[ZdhZd]~_kbcZdm]qYg]hZq]pklYpqZgZ`^ZY\Z]ö_dh]kdh]yZ`o[[]Yd]hYZ]5kfg]aZ\bc[ZkhZ`g]^k`hZdu]ö_ddx]\g_dh dk`]^ZdYaZ]öbc`YggZ]ijd]hZ`]~jdgÝdZ]ZdgfZ`dgm]\YZ]\bc_ffgZ]Z\]dYbcgm]\Ybc]Yd]öYbcZ`cZYg]nk]l`YdaZdu]ÞÝc]l`_bc]kdgZ`]Yc`]h_\]t`h`ZYbc]ZYdu]öYZ]lZf_dh]\Ybc |[ogn[Ybc]Yq]jlZ`Zd]}`YggZ[]ZYdZ\]akg]n^_dnYa]2ZgZ`]gYZfZdm]\gZY[]_lf_[[ZdhZd]T`YbcgZ`\u]XZ`n^ZYfZ[g]iZ`\kbcgZ]\YZm]Yd]hYZ]äocZ]nk]aZ[_daZdm]`kg\bcgZ]_lZ`]dk` djbc]gYZfZ`]_lu 3Yp]co`gZ]\YZ]\bc`ZYZdm]jcdZ]h_1]Z`]Z`pZddZd]pjddgZm]^_\]aZ\bc_cu]ögj1^ZY\Z]^k`hZ]îZgng]ö_dh]Zq|j`aZ\bc[ZkhZ`gu ö_ddx]f_dh]dY`aZdh^j]fZ\gZd]ä_[gu]4d_kfc_[g\_q]a[Ygg]\YZ]Yd]hYZ]TYZfZm]^j]\Ybc]kdgZ`]ZYdZq]ä_kfZd]ijd]yZ`o[[]`kbp_`gYaZ]rZ^ZakdaZd]_lnZYbcdZgZdu]tYd ZbpYaZ`]öbcÝhZ[]^k`hZ]\Ybcgl_`m]n^ZY]p`ÝfgYaZ]3YZfZ`n_daZdm]îZhZ]akg]hj||Z[g]\j]a`j1]^YZ]hYZ]2j[__gYdm]nkbpgZd]cZ`_du tdg\Zgng]^_`f]\YZ]\Ybc]cZ`kqu]t\]aZ[_da]Yc`]g_g\Ýbc[Ybcm]nk]p[ZggZ`dm]_lZ`]\bcjd]^k`hZ]\YZ]ijd]hZq]TYZ`m]h_\]\ZYdZ]\YbcZ`]aZa[_klgZ]rZkgZ]ZdgpjqqZd]\_cm qYg]ögZYdZd]lZ^j`fZdu]zdqYggZd]ZYdZ`]\Ybc]`_\bc]_k\hZcdZdhZd]5_^YdZ]_k\]yZ`o[[m]ö_dh]kdh]t`hZ]`kg\bcgZ]\YZ]_lm]hZq]âZdg`kq]hZ\]T`YbcgZ`\]ZdgaZaZdu }YZ]~_[[Z]^_`]|Z`fZpgu]}YZ][jbpZ`Zd]l`sbcYaZd]ögZYdZ]iZ`cYdhZ`gZdm]h_1]hYZ]é|fZ`]f[jcZdu]æ_bc]_[[Zqm]^_\]ö_ddx]lY\[_da]aZ\ZcZd]c_ggZm]a_l]Z\]}kgnZdhZ hYZ\Z`]yZ\bco|fZ]_kf]â^YZ[Ybcgu]tÜY\gYZ`gZ]hZqd_bc]hjbc]ZYdZ]`ZYbcc_[gYaZ`Z]TYZ`^Z[g]_[\]_daZdjqqZdw Vkf] _[[Zd] iYZ`Zd] iZ`\kbcgZ] hYZ] 2j[__gYdm] äocZ] nk] aZ^YddZdm] l[Ydh[Yda\m] \gj[|Z`dhm] ij`] ~k`bcg] kdh] tdg\ZgnZd] c_[l] aZ[Ýcqgu] tYdZ] hZ`] â_daZd] g`_f] \YZ \bcqZ`nc_fg]_d]hZd]rZYdZdm]\YZ]slZ`\bc[ka]\Ybcm]|`_[[gZ]c_`g]_kf]kdh]`kg\bcgZ]Z`dZkg]_l^Ý`g\u]Vk\]^ZYg]_kfaZ`Y\\ZdZd]VkaZd]\g_``gZ]\YZ]h_\]TYZ`]_dm]h_\ dkd]_kf]\YZ]nkp_qm]kdfÝcYam]\Ybc]nk]lZ^ZaZdu]öbc[_a_`gYa]iZ`hkdpZ[gZ]\Ybc]hZ`]T`YbcgZ`u]tYd]öbc_ggZd]fYZ[]ijd]jlZd]cZ`_lu]ö_ddx]d_cq]Z\]dk`]kdlZ^k1g ^_c`u zd]hZq]2jqZdgm]Yd]hZq]h_\]TYZ`]d_bc]Yc`]\bcd_||gZm]fsc[gZ]\YZ]\Ybc]_daZcjlZdu]V\a_`h]c_ggZ]ZYdZd]hsddZd]TZdg_pZ[]kq]Yc`Zd]5ZYl]aZ^YbpZ[g]kdh]cYZ[g]\YZ fZ\g]kq\bc[kdaZdu]3Yp]^YdpgZ]Yc`]ijd]kdgZd]cZ`]_kfaZ`Zag]nkm]_[\]\YZ]h_dd]slZ`]Ycq]\bc^ZlgZm]kdh]V\a_`h]\ZgngZ]\YZ]\_dfg]Yq]y`_\]_lu ö_ddx]lZdogYagZ]ZYdZ]a_dnZ]vZY[Zm]kq]\Ybc]ijd]hZq]Z`[YggZdZd]öbcjbp]nk]Z`cj[Zdu]zqqZ`]^YZhZ`m]^Ýc`Zdh]\YZ]Yc`Zd]{Z[n]\ÝklZ`gZm]Z`g_||gZ]\YZ]\Ybc h_lZYm]h_1]\YZ]Ýda\g[Ybc]nk]hZq]T`YbcgZ`]cYdslZ`l[YbpgZu]zddZ`c_[l]^ZdYaZ`]2YdkgZd]Z`YddZ`gZ]p_kq]djbc]Zg^_\]_d]hYZ]hj`g][_kZ`dhZ]yZf_c`u }_\]^_`]pd_||m]a_l]V\a_`h]nk]iZ`\gZcZdu]â^YZ[Ybcg]Y\g]gsbpY\bcZ`m]_[\]^Y`]h_bcgZdu]ïv_\]dk`]lZ^ZY\gm]h_1]qZYdZ]rZ`ZbcdkdaZd]\gYqqZdðm]dYbpgZ]ö_ddxu ïvY`]^Z`hZd]ZlZd]ij`\YbcgYaZ`]\ZYd]qs\\Zduð æYbcg]^ZYg]ZdgfZ`dg]Z`\bcj[[]ZYd]hkq|fZ\m][_daaZnjaZdZ\]r`s[[Zdu ï}_\]\Ydh]hYZ]aZ|_dnZ`gZd]TYZ`Zm]hYZ]^Y`]aZ\ZcZd]c_lZdm]dYbcg]^_c`ðm]\_agZ]3Ypu]}YZ]2j[__gYd]^_`f]ZYdZd]f[sbcgYaZd]r[Ybp]nkq]~Y`q_qZdg]Zq|j`m]^j]h_\ `jgZ]yZ\gY`d]djbc]YqqZ`]Yq]f`scZd]Xj`qYgg_a]\g_dhu]tYd]T_a]_kf]â^YZ[Ybcg]^Ýc`gZ]qYdhZ\gZd\]iYZ`nYa]ögkdhZdu ïzbc]hZdpZm]\YZ]^_dhZ`d]qYg]hZ`]öjddZu]öYZ]hs`fgZd]dYbcg]Yd]kd\Z`Z]WYbcgkda]pjqqZduð]}_\]r`s[[Zd]^YZhZ`cj[gZ]\Ybcm]hYZ\q_[]_k\]a`o1Z`Z`]æÝcZ]kdh lZa[ZYgZg]ijq]ö|[YggZ`d]kdh]3`_bcZd]\gs`nZdhZ`]rÝkqZu]âkqYdhZ\g]ZYdZ\]hZ`]yZ\bco|fZ]l_cdgZ]\Ybc]kdlZY``l_`]\ZYdZd]vZau tYd] jc`ZdlZgÝklZdhZ`] 3d_[[] nZ``Y1] hYZ] Vgqj\|cÝ`Z] kdh] fZagZ] _[\] `j[[ZdhZ`] }jddZ`] slZ`] h_\] 5_dhu] zq] \Z[lZd] 2jqZdg] aZ^_c`gZ] ö_ddx] qZc`Z`Z }kd\g\g`ZYfZdm]hYZ]\bcZYdl_`]_k\]hZ`]öjddZ]aZpjqqZd]^_`Zd]kdh]_q]äj`Ynjdg]iZ`\bc^_dhZdu]}`ZY]\Y[lZ`d]a[YgnZ`dhZ]{kdpgZ]pZc`gZd]Yd]ZYdZ`]^ZYgZd
öbc[ZYfZ]nk`sbpu]ÞÝaZ`ô ïél]\YZ]kd\]\kbcZdwð ïzbc]a[_klZ]dYbcgu]Vkf]îZhZd]~_[[]hs`fZd]^Y`]p_kq]^_aZdm]îZgng]_kfnk\gZYaZdu]vY`]qs\\Zd]kd\]Yq]v_[h]iZ`lZ`aZduð }j`g]^_`Zd]\YZ]nkqYdhZ\g]ij`]hY`ZpgZ`]öYbcg]ijd]jlZd]cZ`]aZ\bcsgngu]ögY[[Z]cYZ[g]tYdnka]e]ZYdZ]lZp[ZqqZdhZm]kd^Y`p[YbcZ]ögY[[Zu]öZ[l\g]hYZ]yZ`Ýk\bcZ]hZ` {_dnZ`Zbc\Z] ^_`Zd] iZ`\gkqqgu] tdg^ZhZ`] cYZ[g] h_\] TYZ`] Z`\bc`jbpZd] YddZm] jhZ`] uuu] ö_ddx] \|s`gZ] hYZ] d_cZ] yZf_c`m] jl^jc[] \YZ] \YZ] dYbcg] Yd] ij[[Z` 3jd\ZãkZdn]nk]lZ`ZbcdZd]iZ`qjbcgZu]t\]^_`]dk`]ZYdZ]Vcdkdam]hYZ]îZhjbc]qYg]îZhZ`]iZ`\g`ZYbcZdhZd]öZpkdhZ]qZc`]nk`]yZ^Y1cZYg]^k`hZu]Vkbc]3Yp]nZYagZ \Ybc]kd`kcYam]_[\]\YZ]cYdgZ`ZYd_dhZ`]gYZfZ`]Yd]hZd]v_[h]ZYdh`_daZdu]V\a_`h]c_ggZ]ZYd]}kgnZdh]pk`nZ`]Vk\^sbc\Z]aZfj`qgm]_kf]hZdZd]Z`]\Ybc]ZlZd\j]`_\bc fj`glZ^ZaZd]pjddgZu VkaZdl[YbpZ]\|ÝgZ`]\g_``gZd]\YZ]Yd]hYZ]f[YqqZ`dhZd]2sdhkdaZd]_pgYiYZ`gZ`]ög`_c[Z`u]ïöj[_dZ`ðm]\gYZ1]3Yp]Z`[ZYbcgZ`g]cZ`ij`u]ïzc`]c_lg]qY`]ZYdZd]\bcodZd öbc`Zbp]ZYdaZî_agm]dYbcg]^_c`uð }YZ]2ÝddZ`]l[YZlZd]\gkqqu]öYZ]p_qZd]dÝcZ`m]jcdZ]h_1]Yd]Yc`Zd]2YZdZd]hYZ]aZ`Yda\gZ]WZakda]nk]Z`pZddZd]^_`u ïäZðm]q_bcgZ]3Ypu]ïö_ag]Vg[_dm]h_1]^Y`]Z\]\Ydhuð]t`]iZ`a_1]\ja_`]_kbc]\ZYd]5YZl[Yda\^j`g]ïdYbcg]^_c`ðu zq]\Z[lZd]2jqZdgm]Yd]hZq]Z`]fZ\g\gZ[[gZm]h_1]V\a_`h]iZ`\bc^kdhZd]^_`m]`Y\\Zd]hYZ]öj[_dZ`]Yc`Z]v_ffZd]cjbc]kdh]fZkZ`gZd]Yd]hYZ]r_kq^Y|fZ[u]~[sbcgYa a[_klgZ]3Yp]hYZ]4q`Y\\Z]hZ`]3kaZ[]nk]\ZcZdm]h_dd]iZ`\|Z``gZ]hYZ]`_\bc]kq]\Ybc]a`ZYfZdhZ]y[kg]îZa[YbcZ]öYbcgu]}_\]~_kbcZd]iZ`h`ÝdagZ`]5kfgm]aZfj[ag]ijd hZq]}jddZ`d]hZ`]T`YZl^Z`pZm]lZ^YZ\m]h_1]hYZ]ÞÝaZ`]^YZhZ`]cZ`_d]^_`Zdu ïv_\]\j[[]h_\wð]^_dhgZ]3Yp]\Ybc]_d]hYZ]2j[__gYdu]ïrZg`_bcgZd]hYZ]kd\]Zg^_]_[\]yZf_daZdZwð ït\]\YZcg][ZYhZ`]\j]_k\uð ïVlZ`]uuu]\YZ]\Ydh]hjbc]öj[_dZ`m]dYbcg]^_c`uð tYdYaZ]c_\gYa]cZ`ij`aZ\gj1ZdZ]vj`gZ]Yd]ZYdZ`]io[[Ya]f`Zqh_`gYaZd]ö|`_bcZ]slZ`nZkagZd]3Yp]h_ijdm]h_1]Z`]\Ybc]Y``gZu]él^jc[]hYZ\Z]vZ\Zd]^YZ]öj[_dZ` ^Y`pgZd]e]\YZ]^_`Zd]~`ZqhZu]4dh]h_1]\YZ]pZYdZ\^Za\]noaZ`gZdm]ijd]Yc`Zd]ög`_c[Z`d]yZl`_kbc]nk]q_bcZdm]c_ggZ]Z`]ZlZd]Z`[Zlgu]äjffZdg[Ybc]^_`]V\a_`h h_ijdaZpjqqZdu]}Z`]yZh_dpZ]_d]hYZ]~[kanZkaZ][YZ1]3Yp]nYggZ`du zcdZd]l[YZl]pZYdZ]_dhZ`Z]v_c[m]_[\]\Ybc]hZ`]êlZ`q_bcg]nk]fsaZdu]2_d]\|`_da]dYbcg]aZ`_hZ]\_dfg]qYg]YcdZd]kqu ïöYZ]l`YdaZd]kd\]Yd]Yc`Z]ög_gYjdm]dYbcg]^_c`wð ö_ddx]dYbpgZ]dk`u]zc`Z]rZ`ZbcdkdaZd]lZ^_c`cZYgZgZd]\Ybcm]^Zdd]_kbc]_kf]aÝdn[Ybc]_dhZ`Z]vZY\Zm]_[\]\YZ]Z\]\Ybc]Z`cjffg]c_ggZu]â^Y\bcZd]kqaZ\gs`ngZdm nZ`\|[YggZ`gZd]rÝkqZd]iZ`c_``gZ]`Zakda\[j\]ZYdZ]{_dnZ`Zbc\Zu]3Yp]nkbpgZ]lZY]Yc`Zq]Vdl[Ybp]nk\_qqZdm]c_ggZ]\Ybc]_lZ`]\jfj`g]^YZhZ`]kdgZ`]3jdg`j[[Zu ï}_\]^_`]nk]Z`^_`gZdðm]f[s\gZ`gZ]ö_ddx]dZlZd]Ycqu]ï}YZ]~`ZqhZd]c_lZd]ZYdZ]|Z`fZpgZ]V`g]aZfkdhZdm]â^YZ[Ybcg]kd_kffÝ[[Ya]nk]slZ`^_bcZduð öYZ]^k`hZd]Yd\]zddZ`Z]hZ\]TYZ``jljgZ`\]aZ\gj1Zdm]hZ`]\Ybc]\bc^_dpZdh]Yd]rZ^Zakda]\ZgngZu]tdZ`aZgY\bcZ]~Z\\Z[fZ[hZ`]cYdhZ`gZd]\YZ]ijd]ij`dcZ`ZYd]_d îZhZq]~[kbcgiZ`\kbcu]}YZ]{_`_q_gcZq_gYpZ`Yd]a[_klgZ]dYbcgm]h_1]_[[Z]{_dnZ`Zbc\Zd]aZg_`dgZ]2_\bcYdZd]^_`Zdu]öYZ]qk1gZ]h_`_d]hZdpZdm]h_1]dk`]ZYdZ\ hZ`]TYZ`Z]Yd]hZ`]äZ`hZ]YcdZd]d_bcaZ\bc_kg]c_ggZu]XYZ[[ZYbcg]^_`]Z\]\ja_`]aZ`_hZ]hYZ\Z\]aZ^Z\Zdm]Yd]hZq]q_d]\Ybc]dkd]lZf_dhu tYdZ]ögkdhZ]iZ`aYdam]jcdZ]h_1]Zg^_\]aZ\bc_cu ö_ddx]cÝggZ]iYZ[]h_fs`]aZaZlZdm]nk]^Y\\Zdm]^_\]\YZ]_q]âYZ[]Yc`Z`]kdf`ZY^Y[[YaZd]WZY\Z]Z`^_`gZgZu]VlZ`]Yc`]fZc[gZd]hYZ]Vd\_gn|kdpgZ]fs`]ZYdZ]rZ`Zbcdkdau
34 PQRSSTQ UVWXYZW[\Z\Z]ZX^_X`ZabZcdZ]eXdcZfXW[\gZbhXicZffZc[\jXgkffjZXZbXV_[\X]c[\jXlZbWjZ\Z]hXmVWXZWX`ZnZ_jZjZeXaZdV]aZ]X^_XWZc]eXok]]jZXZbXZbWjXZbpZWWZ]eXWZcjXZb WZc]ZXqbZc\ZcjXlZbfkbZ]X\VjjZhXRWXaV`XSZcjZ]eXnVXgrbZXZbXfcZ`ZbXjkjXaZgZWZ]eXVfWXn_psdXlkbXWc[\X\c]X^_XlZaZjcZbZ]hXUV]]XgcZnZbX`r_pjZXVffZWXc]Xc\pXWc[\ V_deXnV]]XgkffjZXZbXncZXqZWWZf]XWsbZ]aZ]eXncZXc\]X\cZfjZ]X_]nXQV[\ZX]Z\pZ]XV]XtZ]Z]eXncZXc\pXnVWXV]aZjV]X\VjjZ]hXT`ZbXZbXgVbX^_XW[\gV[\XnV^_hXu]nXZb g_bnZXW[\gr[\ZbeXtZXfr]aZbXWZc]ZXYZdV]aZ]W[\VdjXnV_ZbjZh RbXaV`XvwVbXncZXx[\_fnXV]XWZc]ZpXx[\c[oWVfeXgZcfXZbXtZpV]nZ]X`bV_[\jZeXnZpXZbXncZXx[\_fnX^_W[\cZ`Z]Xok]]jZeX_pX]c[\jXc]XxZf`WjlkbgLbdZ]X^_XlZbWc]oZ]h MV][\pVfX \VNjZX ZbX vwVbhX UcZX 2]jZffcaZ]^X lk]X 3VbWX ZbW[\cZ]X c\pX lkffokppZ]hX Uk[\X aV`X ZWX V_[\X MkpZ]jZeX c]X nZ]Z]X ZbX Zc]WV\eX nVNX aV]^Z R]jgc[of_]aWWj_dZ]XWcZXlk]Zc]V]nZbXjbZ]]jZ]eXc]XnZ]Z]XZbXWZc]Xx[\c[oWVfXWkaVbXvwVbXV]lZbjbV_jX\rjjZeX_pXVffZWX3ZfVWjZ]nZXlk]XWc[\XV`^_WjbZcdZ]XgcZXZc]Z VfjZX4V_jeXncZXdLbXnZ]XgV[\WZ]nZ]X56bsZbX^_XZ]aXaZgkbnZ]XcWjh Rc]ZXZcaZ]VbjcaZX3Z^cZ\_]aX`ZWjV]nX^gcW[\Z]Xc\]Z]eXZc]ZXTbjX4VNfcZ`ZhX7ZnZbXgkffjZXVffZc]XWZc]eXgkffjZXZ]nfc[\XgcZnZbXdbZcXWZc]eXV`ZbX`ZcnZXg_NjZ]eXnVN Zc]ZbXk\]ZXnZ]XV]nZbZ]XZ]naLfjcaXlZbfkbZ]XgVbh xcZXp_NjZ]XWc[\X^_WVppZ]j_]X_]nXok]]jZ]XZWXnk[\X]c[\jhXRc]ZX_]Wc[\j`VbZXMV[\jXWkbajZXnVdLbeXnVNXWcZXc\bZ]XV]dr]afc[\Z]X4VNX]cZXlZbaVNZ]h 8_]XdLb[\jZjZXPbZ^^VbX_pXWZc]ZXR9cWjZ]^hXRbXafV_`jZeXVffZ]XYb_]nXnVdLbX^_X\V`Z]eXnZ]]Xc\pXgVbX]c[\jXZ]jaV]aZ]eXnVNXvwVbX]V[\XfV]aZbXSZcjXlZbaZ`fc[\Zb 3ZpL\_]aZ]XZc]XmZWZ]XV_WXWc[\XV`aZWk]nZbjX\VjjZeXnZpXncZX4kdd]_]aZ]Xlk]X3VbWXaVfjZ]h vwVbcXfZ`jZX]_bXV_WXnZpXZc]Z]XYb_]neX_pXc\]eXPbZ^^VbX^_XlZb]c[\jZ]hXRbXn_bdjZX]c[\jXgVbjZ]eX`cWXc\pXoZc]ZXZcaZ]ZXR]jW[\Zcn_]aXpZ\bX`fcZ`hX2]Wjc]ojclXWsLbjZ ZbeXnVNXZbXaZ^g_]aZ]XgVbeXncZX2]jZffcaZ]^Xlk]X3VbWXpcjXc\bZ]XZcaZ]Z]XmVddZ]X^_XW[\fVaZ]h : S_ZbWjXgkffjZXPkboXZWX]c[\jXafV_`Z]eXnVNXWZc]ZXdbcW[\Z]XvbcZ`ZXWc[\XZc]bkffjZ]eXnk[\XVfWXnZbXx[\pZb^XWc[\Xn_b[\XncZX8ZblZ]`V\]Z]XdkbjsdfV]^jZeXobVffjZXZb ncZXm_b^Zf]Xc]XnVWXfk[oZbZXRbnbZc[\hX5VpXnZbXjbk[oZ]ZXmc]nX^_X^ZcjcaXc]XncZWZbXmV[\Wj_pWsZbcknZ;XiZbaZ`fc[\XW_[\jZXZbX]V[\XmVWWZbeXnVWXZ`Z]X]k[\ WZc]ZXm_b^Zf]X_pWsLfjX\VjjZhXRWXgVbXlZbWc[oZbjh RbXZbc]]ZbjZXWc[\XnVbV]eXnVNXncZXeX\VjjZ]XncZX
T`ZbXZbXWV\XV_[\XZjgVWXV]nZbZWCXnZbX\ZffZXP_]ojXcpXSZ]cjXgVbXgcZnZbXnVhXu]nXZbXgVbXab6NZbXVfWX^_lkbh : UcZX M_fjcWX `ZWVNZ]X oZc]ZX ]VjLbfc[\Z]X qZc]nZhX icZffZc[\jX \VjjZX ZWX tZnk[\X c]X abV_ZbX ikb^ZcjX ab6NZbZX vcZbZX V_dX c\bZbX mZfjX aZaZ`Z]eX nZ]]X Zc]ZXTbjX nZb qkbjsdfV]^_]aeX]rpfc[\XncZXn_b[\XW[\]ZffXgV[\WZ]nZXT`fZaZbeXncZXnZpX4V_sjWjVppX`cWXV_dWX3fVjjXafc[\Z]eXfcZNXnVbV_dXW[\fcZNZ]h PkboX\VjjZX]k[\XoZc]ZXT`fZaZbXaZ`cfnZjhXUV^_eXafV_`jZXZbeXgVbXWsrjZbXaZ]LaZ]nXSZcjeXgZ]]XZbXncZXqr\caoZcjeX3fLjZ]o]kWsZ]X^_XZb^Z_aZ]eXlZbfkbZ]X\VjjZh RWX`ZZc]nb_[ojZXc\]XcppZbXgcZnZbeXnVWXmV[\Wj_pXnZbXV_WXxVpZ]XZ]jWjZ\Z]nZ]X5Zcpfc]aZX^_X`Zk`V[\jZ]eXgZcfXncZWZXWjZjWXlZbr]nZbjZXRcaZ]W[\VdjZ] `ZWVNZ]hXT_[\XZbXgVbXV_WXZc]ZpXWkf[\Z]Xxrpfc]aX\ZblkbaZaV]aZ]h vZaVXZbgVbjZjZXc\]XV_dXnZpXm_b^ZfsfVj^hX2\bXxZ\VWjXgVbX_]aZn_fncaXc]XncZX46\ZXaZbZ[ojh =RbW[\LjjZb_]aZ]Xn_b[\fV_dZ]XncZXxjVnj>eXbcZdXWcZhX=mVWXcWjXaZW[\Z\Z];> PkboX^6aZbjZeXgr\bZ]nXWZc]ZXT_aZ]XWc[\XZb]Z_jXV_dXnZ]XP_]ojXcpXSZ]cjXbc[\jZjZ]eXnZbXc]^gcW[\Z]XZjfc[\ZX\ZffZXqkbjWrj^ZXV_WaZ`cfnZjX\VjjZeXncZXWc[\XgcZ jVWjZ]nZXm_b^ZfWjbr]aZX`ZgZajZ]hX2baZ]nXZjgVWXV]XncZWZpXYZ`cfnZXdVW^c]cZbjZXc\]eXWjcZNXc\]X^_afZc[\XV_[\XV`hXvZaVWX3fLjZ]XgcbojZ]XlZbfk[oZ]nhXRWXdcZf c\pXW[\gZbeXWc[\X^_Xok]^Z]jbcZbZ]hXxcZXgcZnZb\kfjZXncZXqbVaZh =UVWXmVWWZbXcpX8V\b_]aWdZfnXcWjXlZbWc[oZbj>eXWVajZXZbXW[\fcZNfc[\X_]nXdLajZXbVW[\X\c]^_eXVfWXZbXc\bXRbW[\bZ[oZ]X`ZpZbojZCX=iZbp_jfc[\XZc]ZXiZbW[\cZ`_]a cpXRbnbZc[\hX2[\X`c]XWc[\ZbeXZWXWjZcajX`VfnXV]nZbWgkXV]XncZXA`Zbdfr[\ZhXmcbX\VjjZ]X]cZXx[\gcZbcaoZcjZ]h>X=UcZXeX`ZaV]]XWcZeXlZbWj_ppjZXV`Zbe VfWXPkboXc\bXWsk]jV]XncZXxsbZ[\6dd]_]aXL`ZbXnZpXm_b^ZfV]WVj^XlZbW[\fkNhXRbXgkffjZXtZj^jXgZnZbXnVlk]X\6bZ]X]k[\XnVbV]XnZ]oZ]DXc\bZX3fLjZ]sbV[\jXbV_`jZ c\pXW[\cZbX nZ]XTjZphX mr\bZ]nX `ZcnZbX @WjZX Zc]V]nZbX _pdc]aZ]eX gr\bZ]nX c\bZX 3frjjZbX bVW[\Zf]nX V]Zc]V]nZbX bcZ`Z]eX 6dd]ZjZ]X WZc]ZX 5]kWsZ]X Wc[\X _]n jV_[\jZ]Xc]XnZ]X4k]can_djXc\bZbX3fLjZ]XZc]hXT`ZbXlcZfZWXgVbXV]nZbWXVfWXWk]WjhXUVWXRbnbZc[\XnZWXm_b^ZfsfVj^ZWXZbW[\cZ]Xjbk[oZ]X_]nXWsb6nZeX_]nXV_WXnZb vcZdZXWjcZaXZc]ZX_]Zbofrbfc[\ZXmrbpZX\ZbV_deXncZXnZ]Xm_b^ZfZ]nZ]XW[\pZb^jZh x[\k]X`VfnXlZbfcZNZ]XPkboX_]nXvZaVeXgcZX4_]nZbjZXV]nZbZXM_fjcWXV_[\eXdLbXo_b^ZXSZcjXncZXxjVnjhXRbWjXcpXWsrbfc[\Z]XvV_XV_dXnZ]XmcZWZ]XnZbX]r\ZbZ] upaZ`_]aXdL\fjZ]XWcZXWc[\XgcZnZbXgk\fh : 7ZnZbXvVaX`bV[\jZXZc]XgZ]caXmrbpZeX_]nXpcjXtZnZpXvVaXg_[\WXncZX4ZffcaoZcjXcpXSZ]cjeXncZXpcjXacZbcaZ]Xqr]aZ]X]V[\XnZbXmZfjXnZbXM_fjcWX^_XabZcdZ]XW[\cZ]h T_dXgZcjZbZ]X8V\b_]aWdZfnZb]XlZbWc[oZbjZXnVWXmVWWZbhXYbV`_]aZ]XWZf`WjX`cWX^_bXdL]ddV[\Z]Xm_b^ZfjcZdZXd6bnZbjZ]X]_bXjbk[oZ]ZWeXdZc]o6b]caZWXRbnbZc[\X^_ vVaZhXUZbXeX `ZdLb[\jZjZX PkbohX =x[\fcZNfc[\X \V`Z]X gcbX ]c[\jX Zc]pVfX pZ\bX dLbX _]WX WZf`WjX aZ]_aX mVWWZbh> mcnZbgcffcaX`ZjbV[\jZjZXZbXncZXaZf`Z]Xxscj^Z]eXncZXnZ]XiZbdVffXWZc]ZbXdbcW[\Z]XvbcZ`ZXV]^ZcajZ]hXikbZbWjXgVbZ]X]_bXgZ]caZXnVlk]X`ZjbkddZ]eXV`ZbXZbXg_NjZe nVNXncZXULbbZXbVW[\XlkbV]W[\bZcjZ]XgLbnZX?XZbX`bV_[\jZX]_bXvZaVXV]^_WZ\Z]eXncZXc]^gcW[\Z]XZjfc[\ZXoV\fZXSgZcaZX`ZWVNhX2ppZb\c]X`ZV]Wsb_[\jZ]XncZ \ZbV]bZcdZ]nZ]XxVpZ]oVsWZf]XlcZfXlk]Xc\bZpXX A\]ZX nVNX ZbX ZWX `Zg_NjX gkffjZeX dkbpjZX ZbX ncZX mkbjZeX L`ZbX ncZX ZbX WZf`WjX ZbW[\bVohX qkbjX ?X nVWX `ZnZ_jZjZeX VffZWX iZbjbV_jZ V_d^_aZ`Z]eX lcZffZc[\jX c]X nZ]X gZcjZ]X mLWjZ]X ^_X lZbnkbbZ]hX icZfZX M_fjcWX \VjjZ]X W[\k]X lZbW_[\jeX ncZX mZfjX \c]jZbX nZ]X UL]Z]X ^_X ZbdkbW[\Z]eX \VjjZ]X WkaVb mVWWZblkbbrjZXpcjXWc[\XaZW[\fZssjeXgVbZ]XV`ZbX]cZX^_bL[oaZoZ\bjh =u]WX `fZc`jX oZc]ZX V]nZbZX mV\feX gkffZ]X gcbX ]c[\jeX nVNX _]WZbZX xjZ[ofc]aZX lZboLppZb]>eX WjcppjZX vZaVX ^_X WZc]ZbX B`ZbbVW[\_]aX ^_hX U_b[\X ncZX nL]]Zb gZbnZ]nZXx[\VfZXnZbXxVpZ]oVsWZf]X\c]n_b[\XWV\XZbXofZc]ZXm_b^ZfdrnZ]XWc[\XZbWjpVfWX`ZgZaZ]h TfWXWcZXncZXfr]aWjXlk]XxjZc]Z]XL`ZbWrjZ]eXWjV_`caZ]XQVpsZ]XnZbXxjVnjX\c]V`WjcZaZ]eX`Z`jZXgcZnZbXnZbX3ZbahX8cZpV]nXpV[\jZXWc[\XpZ\bXncZXML\ZeXnZ] mZaXlk]XYZb6ffXdbZc^_\VfjZ]X?XZWXgrbZXZc]XWc]]fkWZWXu]jZbdV]aZ]XaZgZWZ]hXUVWX3Z`Z]XgVbXWjrboZbX_]nX\cZfjXfr]aZbXV]XVfWXVffZXlkbV]aZaV]aZ]Z]hXT] lcZfZ]XxjZffZ]X`bV[\XncZXxjVnjXV_dDXMV_Zb]XWjLb^jZ]Xc]XWc[\X^_WVppZ]X_]nX`Zab_`Z]XM_fjcWX_]jZbXWc[\hXR]jWZj^jXWjZffjZXPkboXdZWjeXnVNXncZXQcWWZXncZWpVf V_[\XlkbXnZpXaZgV[\WZ]Z]XqZfWX]c[\jX\VfjpV[\jZ]hXMr[\jcaZX3bk[oZ]X`bV[\Z]XV_WXnZbX]V\Z]XxjZcfgV]nXV_WX_]nXlZbW[\gV]nZ]Xnk]]Zb]nXc]XnZbXvcZdZh 2pX8_XgVbZ]XPkboX_]nXvZaVX^gcW[\Z]XW[\bZcZ]nZ]XM_fjcWXZc]aZoZcfjeXncZXc\bX4ZcfXc]XnZbXqf_[\jXW_[\jZ]hXS_XWsrjXWjbZ[ojZXPkboXWZc]ZX@WjZX]V[\XnZbXYZdr\bjc] V_WhX4cZX_]nXnVXlZbW_[\jZ]X`Z\Zb^jZXxjrppZeXnVWXU_b[\Zc]V]nZbXc]XaZkbn]ZjZX3V\]Z]X^_XfZ]oZ]hX
WsfcjjZbjZ]hXUZbXx[\pZb^XbV_`jZXc\pXdVWjXncZX3ZWc]]_]aeXnk[\XpcjXfZj^jZbX5bVdjXW[\fZssjZXZbXWc[\XgZcjZbhXRbXg_NjZeXnVNXZbXdkbjXp_NjZeXgkffjZXZbX]c[\jXlk]XnZ] \ZbV``bZ[\Z]nZ]XqZfWZ]XZbW[\fVaZ]XgZbnZ]hX8_bXpZ\bXaZnrpsdjXlZb]V\pXZbXncZXlcZfdrfjcaZ]XYZbr_W[\ZX_pXWc[\X\ZbhXx[\gV]oZ]nXoVpXZbX\k[\eXWjZppjZ Wc[\X aZaZ]X nZ]X V]X 4ZdjcaoZcjX gZcjZbX ^_]Z\pZ]nZ]X xj_bphX UVWX
c\pX \ZbV`hX vr_W[\jZX ZbX Wc[\eX knZbX g_bnZ]X ncZX `cWfV]aX WjZcfX V`dVffZ]nZ]X mr]nZX dfV[\Zb;X UZbX 3knZ]X WjcZaX V]hXT`ZbX ]k[\X gVbX aZ]LaZ]nX qZ_[\jcaoZcj lkb\V]nZ]eX_pXncZXm_b^Zf]X^_XoL\fZ]hXRbW[\6sdjXZbbZc[\jZXPkboXW[\fcZNfc[\XnZ]XmVfnbV]nhXUc[\jZWXYZ\6f^Xg_[\WX\cZbeXnV^gcW[\Z]XgZcjfr_dcaZXMkkWskfWjZb _]nXcppZbXgcZnZbXV_WXnZbX46\ZX\ZbV`\r]aZ]nZX<_djg_b^Zf]XnZbXQcZWZ]h Rc]XV_ddbcW[\Z]nZbXmc]nXjb_aXc\pXnVWXYZbr_W[\XdZb]ZbXxjcppZ]X^_hXik]XZc]ZbXsf6j^fc[\Z]XxZ\]W_[\jXZbdLffjeX\VWjZjZXZbXgZcjZbhX=vZaVE>XbcZdXZbh 8c[\jWhX8_bXnVWXeXbcZdXWcZX_]nXWjbZ[ojZXc\bZXYbZcdrWjZX]V[\Xc\pXV_WhX=U_X\VWjXZWXaZW[\VddjhX2[\Xg_NjZeXnVNXn_XokppZ]XgLbnZWjh> : Rjfc[\ZX PZbcknZ]X nZWX mV[\Z]WX _]nX x[\fVdZ]WX gZ[\WZfjZ]X Zc]V]nZbX V`eX gr\bZ]nX nVWX XgV]njZXvZaVXWc[\XV]XPkbohX=B`ZbVffXgVbjZjXnZbXvknXV_dX_]Wh> =mZ]]XgcbX\cZb`fZc`Z]>eXZbgcnZbjZXZbX\ZdjcaeX=gZbnZ]XgcbXdbL\ZbXknZbXWsrjZbXWjZb`Z]hXxk`VfnXnVWXbkjZXT_aZXgcZnZbXVpX4cppZfXWjZ\jeXcWjXZWXdLbX_]WXSZcj V_d^_`bZ[\Z]h>XUcZXxj_]nZXoVpXW[\]ZffZbeXVfWXZbX`ZdLb[\jZjX\VjjZh mr\bZ]nXncZXRbnZXWjrboZbX^cjjZbjZXVfWXtZX^_lkbeXgr\bZ]nXncZXQcZWZ]Xr[\^Z]nX_]nXWj6\]Z]nXW[\gV]ojZ]eXWZ]ojZXWc[\XZc]ZXnLWjZbZXQ6jZXV_dXnVWXeXW[\bcZXvZaVhX=mcbXpLWWZ]XWcZXpcj]Z\pZ]h> PkboX\VWjZjZX]Z`Z]Xc\bX\ZbhXYZpZc]WVpXlZbW_[\jZ]XWcZeXncZXc]^gcW[\Z]X^_X`ZV[\jfc[\ZbXYb6NZXaZgV[\WZ]Z]Xt_]aZ]XxjrppZeXncZXWc[\X]k[\X]c[\jXV_W ZcaZ]ZbX5bVdjX`ZgZaZ]Xok]]jZ]eX^_WVppZ]XpcjXZc]ZpX3VffZ]X8r\b`knZ]XV_W^_abV`Z]h UZbXeXWVajZXZbhX=mcbXpLWWZ]X_]WXWZf`WjXc]Xxc[\Zb\ZcjX`bc]aZ]h>XxkXW[\]ZffXWcZXok]]jZ]eXbV]]jZ]XncZXM_fjcWXV_dXc\bZ]Xm_b^Zf]XnVlk]e gr\bZ]nX\c]jZbXc\]Z]XcppZbXpZ\bX3r_pZXWsfcjjZbjZ]hXUcZXmLWjZXZbgVbjZjZXWcZCXlkpXxj_bpXV_daZgcb`ZfjZbXdZc]o6b]caZbXxV]neXnZbXc]Xnc[\jZ]Xx[\gVnZ] nV\c]jbcZ`X_]nXncZXxc[\jXV_dXZc]XMc]cp_pX`ZabZ]^jZhXxcZXg_NjZ]eXncZWXgVbXncZX46ffZeXV`ZbXc\]Z]X`fcZ`XoZc]ZXV]nZbZXmV\fhXPkboXlZbWVppZfjZXncZXgZ]caZ] B`ZbfZ`Z]nZ]X_pXWc[\h =mcbXpLWWZ]Xnc[\jX`ZcZc]V]nZbX`fZc`Z]>eXWVajZXZbhX=TffZc]X\VjXoZc]ZbXZc]ZXG\V][Zh>XA\]ZXnVNXWc[\XmcnZbWsb_[\XbZajZeXL`Zb]V\pXZbXncZXqL\b_]ahXUZb gVbpZXxV]nXW[\pZb^jZXnZ]Xm_b^Zf]eXjbk[o]ZjZXWcZXV_WX_]nX^ZbWj6bjZXncZXlcZfZ]XdZc]Z]X4rb[\Z]eXncZXnZ]XM_fjcWXZc]Z]XV_WaZ^Zc[\]ZjZ]XvVWjWc]]XlZbfcZ\Z]e ZbX^ZbdZj^jZXncZX3frjjZbX_]nX3fLjZ]X_]nXW[\pcbaZfjZXWZf`WjXncZXnc[oZXQc]nZXlk]XnZ]XxjrppZ]eX`cWXnVWX]V[ojZX4kf^X\ZblkbjbVjhXS_nZpXlZb`V]nXZbXWc[\Xpcj nZpXV_WXnZ]Xm_]nZ]XV_WjbZjZ]nZ]X4Vb^X^_X\VbjZ]eXW[\pZb^Z]nZ]X5b_WjZ]h xj_ppX W[\fZssjZ]X Wc[\X ncZX M_fjcWX n_b[\X ncZX mLWjZX ?X ^Zb^V_WjZX xcf\k_ZjjZ]X c]pcjjZ]X Zc]ZbX c\]Z]X dZc]nfc[\Z]X upaZ`_]ahX UVWX 4Z_fZ]X nZWX xj_bpZW L`Zbj6]jZXtZnZWXmkbjhXmZbXWjLb^jZeX`ZWVNXWZf`WjX]c[\jXpZ\bXncZX5bVdjeXWc[\X^_XZb\Z`Z]eXtZnZXlZb^gZcdZfjZXT]WjbZ]a_]aXfcZNXc\]X]_bX]k[\XjcZdZbXZc]Wc]oZ]X?XZb gVbXV_dXncZX4cfdZXnZbXV]nZbZ]XV]aZgcZWZ]h UcZX3Z`Z]XgVbZ]XWjrboZbXaZgkbnZ]eXWcZXoVpZ]X]_]Xc]X_]_]jZb`bk[\Z]ZbXqkfaZhXPkboX`ZaV]]XVffpr\fc[\X^_X`ZabZcdZ]eXnVNXWZc]XT_d`r_pZ]XaZaZ]XnVW x[\c[oWVfX lZbaZ`Z]WX WZc]X p_NjZhX UcZX mZfjX nZbX M_fjcWX W[\cZ]X ^_pX u]jZbaV]aX lZb_bjZcfjhX RbX lZbdf_[\jZX nVWX bkjZXT_aZeX nZWWZ]X qZ_ZbW[\Zc]X WZf`WjX nZ] xV]nWj_bpXn_b[\nbV]aX_]nXncZXmLWjZXpcjXdfV[oZb]nZ]Xx[\VjjZ]XZbdLffjZh UZbXSZcjs_]ojeXV]XnZpXVffZXWkXaZW[\gr[\jXgVbZ]eXnVNXWcZX]c[\jXpZ\bXgZcjZbXok]]jZ]eXoVpXW[\]ZffhXPkboXaV`X^_XlZbWjZ\Z]eXnVNXWcZXWc[\XZ]aXV]Zc]V]nZb nbr]aZ]X WkffjZ]hX xkX `fcZ`Z]X gZ]caWjZ]WX Zc]caZX lkpX xV]nX lZbW[\k]jhX 2baZ]ngV]]X dfV_jZX nZbX xj_bpX V`hX T`ZbX ZWX pk[\jZX ]_bX Zc]X TjZp\kfZ]X nZb V_daZsZcjW[\jZ]X8Vj_bXWZc]eX`ZlkbXncZWZXZ]naLfjcaX^_W[\f_ah
:
Rc]X MZZbX Wc[\X Wjr]ncaX lZbr]nZb]nZbX qVb`Z]X L`Zb^kaX nVWX qcbpVpZ]jhX A`gk\fX lk]X L`ZbgrfjcaZ]nZbX x[\6]\ZcjeX `VbaX ZWX ^_afZc[\X nZ]X 5ZcpX nZW `Zac]]Z]nZ]Xu]jZbaV]aWXc]XWc[\hXPkboXafV_`jZX]_]XnZ]XT_WWVaZ]XnZbXX\6bjZXPkboXWc[\Xobr[\^Z]hX=7ZXfr]aZbXgcbXlZbgZcfZ]eXnZWjkXW[\fcppZbXgcbnXZWXdLbX_]Wh> 8cZpV]nXgcnZbWsbV[\hXxcZXgVbZ]X]k[\X^gV]^cahXicZffZc[\jXncZXfZj^jZ]Xc\bZWXikfoZW;XPkboXg_NjZXZWX]c[\jeXgkffjZXZWXV_[\X]c[\jXgcWWZ]eXnZ]]XnVWX\rjjZ WZc]ZXWZf`WjXL`Zb]kppZ]ZXiZbV]jgkbj_]aX]_bX]k[\X_]Zbjbrafc[\ZbXgZbnZ]XfVWWZ]h 2]XfV]aZbXQZc\ZXW[\fZssjZ]XWcZXWc[\Xn_b[\XncZXmLWjZhX8cZpV]nXok]]jZXWVaZ]eXgV]]XWcZXdb_[\j`VbZXYZ`cZjZXZbbZc[\Z]XgLbnZ]hXvZaVXjb_aXnZ]XxjZ[ofc]aeXnZb pcjjfZbgZcfZX Zc]XT[\jZfX c\bZbX Yb6NZX `ZWVNhX A`gk\fX ZWX c\bX W[\gZbdcZfeX fcZNX WcZX Wc[\X ]c[\jX Zc]pVfX lk]X PkboX \ZfdZ]hX Rc]X eX`Z\V_sjZjZXvZaVXWsk]jV]h UcZXWZfjWVpZ]XvcZbZXpVNZ]Xa_jXdL]d^caXm_b^Zffr]aZ]hXxcZX`ZWVNZ]XoZc]XYZdcZnZbeXWk]nZb]XZc]ZXl6ffcaXafVjjZX4V_jhXUkbjeXgkXZcaZ]jfc[\Xc\bZXx[\gr]^ZXWZc] WkffjZ]eXdfcppZbjZXncZX<_djXlkbX4cj^Zh PkboX^_[ojZXo_b^X^_WVppZ]eXVfWXncZX4V_jX`ZcnZbX=i6aZf>XWc[\X6dd]ZjZX_]nXmZWZ]XnVbV_WX\ZblkbofZjjZbjZ]eXncZX]_bXgZ]caXab6NZbXVfWXM_fjcWXgVbZ]h =xcZXokppZ]XV_WXnZbXu]Z]nfc[\oZcj>eXWjZffjZXZbXdZWjh RbWjXvZaVWXL`ZbbVW[\jZbX3fc[oXfcZNXc\]XnVWXu]aZ\Z_Zbfc[\ZXV]XWZc]ZbX3Z\V_sj_]aXZboZ]]Z]h =mk\ZbXgZcNjXn_XnVW;>XdbVajZXWcZXlZb`fLddjhXRbX\VjjZXoZc]ZXT\]_]ahXR]jgc[oZfjZXZbXaVbXncZXqr\caoZcjZ]XZc]ZWXeXWVajZXWcZhX=YZ`jX_]WXmVWWZbeXWk]WjXlZbnkbbZ]Xhhh> Rc]XabZffZbeX`fZ]nZ]nZbX3fcj^X^_[ojZXV_dhXvZaVWXaZffZ]nZbXx[\bZcX`bV[\XV`b_sjXV`hXXW[\bcZXPkboXV_NZbXWc[\ lkbXSkb]X_]nXR]jWZj^Z]hXMcjXV]WZ\Z]X^_XpLWWZ]eXgcZXvZaVXlZb`bV]]jZeX_]nX]c[\jX\ZfdZ]X^_Xo6]]Z]eXjbcZ`Xc\]XdVWjXc]XnZ]XmV\]Wc]]hX4VNZbdLffjXgkffjZXZbXWc[\ V_dXncZXT]abZcdZbXWjLb^Z]eXVfWXc\]Xtr\XZc]X\ZdjcaZbXx[\fVaXjbVdX_]nXZc]o]c[oZ]XfcZNhXRbX`fcZ`X^gVbX`ZcX3ZWc]]_]aeXV`ZbXZbXlZbpk[\jZX]c[\jXZc]pVfXpZ\bXncZ ofZc]WjZXm_b^ZfX^_X`ZgZaZ]hX4cfdfkWXp_NjZXZbXpcjXV]WZ\Z]eXgcZXncZXM_fjcWXnZbXQZc\ZX]V[\X^_WVppZ]`bV[\Z]hXUcZXqbZpnZ]X\k`Z]XWcZXV_dX_]nXW[\fZssjZ] WcZXc]Xc\bZ]XWcf`Zb]Z]XikaZfeXgkXWcZXncZXxjrppZXV[\jfkWXL`ZbZc]V]nZbXgVbdZ]hXMV][\ZbXnLbbZXTWjX`bV[\XnV`ZcXV`h McjjZ]XcpXQV_pXgVbXZc]XxjL[oXmLWjZeX_]nXZc]caZXnZbXqbZpnZ]XWjV]nZ]XnVb_pX\Zb_pX_]nXjVjZ]XWkeXVfWXpLWWZXtZnZ]XT_aZ]`fc[oXZjgVWXaZW[\Z\Z]hXPkbo `ZWVNX Zc]Z]X bZ[\jX a_jZ]X B`Zb`fc[ohX RbX ok]]jZX VffZWX gV\b]Z\pZ]eX ]_bX gVbX ZbX ]c[\jX c]X nZbX
: =mVWX\VjXncZWZXYZW[\c[\jZXpcjXxV]]weX5coX_]nXTWaVbnX^_Xj_];>X_]jZb`bV[\XTjfV]XPkbjZbWXRb^r\f_]ahXRb]Z_jX\VjjZXnVWXZcaZ]VbjcaZXmZWZ]XWZc]XT_WWZ\Z] lZbr]nZbjeX VfWX o6]]ZX ZWX Wc[\X ]c[\jX Z]jW[\ZcnZ]eX gZf[\ZX qkbpX ZWX fZj^jfc[\X V]]Z\pZ]X WkffjZhX 2baZ]ngcZX Zbc]]ZbjZX ZWX ]_]X V]X Zc]Z]X lk]X V`WjZ\Z]nZ] x[\_ssZ]X_paZ`Z]Z]X5ZaZfh =xZ\bXlcZfeXTjfV]>eXZbgcnZbjZXPkbjZbhX=m6``Zoc]aI8VbJ3k]XgcffXncbXWVaZ]eXnVNXncZXR9cWjZ]^XnZbX8V`ZfX]c[\jX]_bXncZXi6foZbXlk]X3VbWX_]nXqVbw]jXaZdr\bnZje Wk]nZb]XWcZXWkaVbXc]XnZbX8VpZ]fkWZ]XSk]ZXu]\ZcfXWjcdjZ]Xo6]]Z]hXUcZXmZfjXnZbXM_fjcWXWjV]nX^_drffcaXV]XZc]ZpXnZbXB`ZbaV]aWs_]ojZX_]nXp_NjZXgZc[\Z]e nVpcjXnZbX8V`ZfXWc[\XWjV`cfcWcZbZ]Xok]]jZh> =mVWXgZcNjXn_XL`ZbXWcZ;>XdbVajZXvwVbchXPkbjZbX^6aZbjZh =8c[\jWeXgVWXc[\X]c[\jXW[\k]XZb^r\fjX\rjjZ>eXaZWjV]nXZbXnV]]h xkX ofVbX gcZX tZj^jX gVbZ]X WZc]ZX YZnV]oZ]X `cW\ZbX ]c[\jX ^_X ZbdVWWZ]X aZgZWZ]hX vwVbcX fVWX vbV_ZbX _]nX xZ\]W_[\jX c]X c\]Z]X ?X _]nX Zc]ZX W[\cZbX abZ]^Z]fkWZ Rc]WVpoZcjhXu]`Zg_NjXW_[\jZXPkbjZbX]V[\XZjgVWeXlk]XnZpXZbXgZnZbXg_NjZeXgVWXZWXgVbeX]k[\XgkXZbXZWXdc]nZ]Xok]]jZhXRWXW[\cZ]X`Zc]V\ZeXVfWXW_[\ZXZbXZc] xjL[oXWZc]ZbXWZf`WjXknZbXnZ]Xxc]]XWZc]ZWXUVWZc]WeXnVWXWc[\X]c[\jXVffZc]XnVbc]XZbW[\6sdZ]Xok]]jZeXm6``Zoc]aWX3kjZX^_XWZc]h vwVbcXZboV]]jZeXnVNXPkbjZbXjVjWr[\fc[\X]c[\jWXL`ZbXWc[\XWZf`WjXg_NjZh mZ]]XZWXZc]ZXM6afc[\oZcjXac`jeXncbX^_X\ZfdZ]eXnV[\jZXWcZX`ZcXWc[\eXnV]]XgZbnZXc[\XZWXj_]hXxcZXlZbp_jZjZeXnVNXm6``Zoc]aI8VbJ3k]XaV]^X`ZWjcppjZXScZfZ lZbdkfajZhX mVbX PkbjZbX ]c[\jX ]_bX aZokppZ]eX _pX c\]Z]X lk]X _]gcnZbb_dfc[\X iZbaV]aZ]ZpX ^_X `Zbc[\jZ];X xkffjZ]X WcZX _]nXTjfV]X gZcjX gc[\jcaZbZX 4c]gZcWZ Zb\VfjZ];XmVbXPkbjZbXnZbXx[\fLWWZfXdLbXZc]caZXnZbXYZ\Zcp]cWWZXlk]X3VbWIKI3VbW;
45 PQRSSTQ UVWXYZT[\]Y][^]_`Z\WXZYaZb]c`d_e^Z\_]Z[_]ZfcgaXZfcZYhiX][jZk]_b]XZlmndWmm]Xc[wZ^W``]Z]`\WYZR_Y_w]YZW[ZY_e^xZy]Xf\]_z]d`Zg]XYce^`]Zb]XZ{[Y`_[n`Zga[ |WXV[`jZY]_[]Z}]bW[n][Zc[bZRmhz_[bc[w][ZgaXZUVWXZfcZg]Xk]Xw][xZPX]ffWXZ^W``]ZT[wY`Z~ZgaXZb]XZR[`Ye^]_bc[wjZb_]Z]XZYaZdW[w]ZYe^a[Z^]Xk]_Y]^[`]x y_]dd]_e^`Z\WXZ]XZfcZYe^\We^jZcmZY_]w][ZfcZn[[][x S\]_z]dZ[Ww`][ZW[ZY]_[]XZR_Y`][fxZTk]XZ]XZ^W``]Z]YZ`c[ZmiYY][jZak\a^dZ]XZbWm_`Zg_]dZga[ZY]_[]XZ]_w][][ZDckY`W[fZahz]X`]Z~Z]XZ^W``]Z]_[ZE]Y][ZzaXm][ miYY][jZbWYZY_e^ZWcF]X^WdkZb]YZ}]z?[w[_YY]YZk]\]w][Zna[[`]jZYaZ\_]ZUVWXZWcYZY_e^ZY]dkY`Z^]XWcYZUVWX_Z]Xf]cw`Z^W``]xZ@AW_dWmYZRXYe^Wzzc[wZ^W``]Z_^m g_]dZBXWz`ZWkg]XdW[w`xZScwd]_e^Z\WXZ]XZY`adfZbWXWczjZ]YZw]Ye^Wzz`ZfcZ^Wk][x @AW_dWmZ~ZbWYZk]b]c`]`]Z[_e^`Z[cXZCb]XZd]`f`]Zy]XYce^DjZbWYZ^_]FZWce^EZC|X_FZUVWXFD G TdYZTYwWXbZb_]Z|Wdd]Z]XnW[[`]jZ\WXZ]YZfcZYh?`jZcmZDW[[VZc[bZB_nZ[ae^ZfcZ\WX[][xZRYZw_[wZcmZD]nc[b][xZE][[Z]XZfw]X`]jZg]X`W`Z]XZbWm_`ZA]b]ZH^W[e]j b][Zk]_b][ZYh?`]XZ^]dz][ZfcZn[[][x I_]Zb_e^`Y`]^][b][ZJ?cm]Z^_[b]X`][Z_^[ZbWXW[jZm_`ZKe^Y`\]X`][ZWczfcY`]_w][xZ}dc`Y`XW^d][ZzXWF][ZY_e^Z^_[`]XZ_^mZ_[YZ}]?Y`jZ]XX]_e^`][Z_^[ZWk]XZ[_e^` m]^XxZTYwWXbZW^[`]jZbWFZb_]Z|X]mb][jZb_]Z]XZk]_[W^]ZziXZDadW[]XZw]^Wd`][Z^?``]jZ]_[][ZD`i`fhc[n`Zc[`]XZb]XZLk]Xzd?e^]Zga[ZS\_]d_e^`Zk]YWF][xZl[b _Xw][b\_]Z ^W``]Z ]XZ bWYZ }]zi^djZ bWFZ Y_]Z \]b]XZ fcZ JWXYZ [ae^Z fcZ |WXV[`Z w]^X`][xZ IWYZ \WX][Z M]c_wn]_`][jZ b_]Z T`dW[Z c[bZ Y]_[]Z DadW[]XZ f\]_z]ddaY _[`]X]YY_]X][ZmcF`][x TYwWXbZYe^\]k`]Zb_e^`Zik]XZb][ZE_hz]d[Zb]XZkX][[][b][ZJ?cm]NZb]XZJ]Ye^cFZ^W``]ZWczw]^X`xZI_]Zk]_b][ZO?w]XZk]m]Xn`]Z]XZ]XY`jZWdYZY_]Zk]X]_`YZbWY |]c]XZWcYZ_^X][ZY`WXXZ]_[w]kWc`][ZJcwnW[a[][Z]Xzz[]`][xZyaXZc[bZ[]k][Z_^mZYe^dcw][ZWXmb_en]Z}dc`Y`XW^d][Z]_[Zc[bZf]Xz]`f`][Zb_]ZJWcmnXa[][x TYwWXbZX]Ww_]X`]jZa^[]ZfcZfw]X[xZ{[[]X^WdkZga[ZD]nc[b][Zz_]dZb_]ZLk]Xzd?e^]Zga[ZS\_]d_e^`Zc[`]XZ_^mZfcXienx yaXik]Xw]^][bZd_]F][Zb_]Zy]Xzadw]XZy]X\_XXc[wZ]Xn][[][jZbW[[Zg]XYce^`][ZY_]jZ_^[Z_[Zb_]ZSW[w]ZfcZ[]^m][xZJd_`fYe^[]ddZ^_[`]X]_[W[b]XZ\]e^Y]d`]Z]X m]^XmWdYZ b][Z BcXYxZ TYwWXbZ \WXZ [_e^`Z Y_e^]XjZ akZ Y_]Z _^[Z _[Z b]XZ LX`c[wZ ^W``][Z ab]XZ [cXZ ah`_Ye^Z WcYmWe^][Z na[[`][xZ UXa`fb]mZ g]XYce^`]Z ]XjZ b_] Jd][b\_Xnc[wZb]YZXa`][ZQ_]Y][ZziXZY_e^ZWcYfc[c`f][jZc[bZ^_]d`ZWczZb_]ZDa[[]Zfcx I_]ZO?w]XZkd_]k][Z^_[`]XZ_^mxZD_]Z^ad`][ZWczjZd_]F][ZY_e^Z[_e^`ZWkYe^i``]d[xZQ]_[Z_[Y`_[n`_gZg]Xz_]dZTYwWXbZ_[Z]_[][ZnX?z`]f]^X][b][ZS_enfWenPBcXYjZb][ZY]_[] y]Xzadw]XZ[_e^`ZbcXe^^Wd`][Zna[[`][xZUW`Y?e^d_e^Zg]XwXF]X`]ZY_e^Zb_]ZI_Y`W[fZf\_Ye^][Z_^[][Z\_]b]XxZS\_]d_e^`Z\WXZYe^a[Z[_e^`Zg_]dZm]^XZWdYZ]_[Z\_[f_w]Xj Y`XW^d][b]XZPc[n`Z_[Zb]XZDe^\?Xf]Zb]YZTddYZ~Z]_[ZD`]X[Zga[Zc[f?^d_w][xZTk]XZ]_[_w]ZW[b]X]ZD`]X[]Z\ce^Y][ZYe^]_[kWXZW[x QWcmYe^_zz]F D_]Z nWm][Z b_e^`Z w]Y`Wzz]d`Z WcYZ b]mZ Q_[]WXXWcmZ c[bZ X_]w]d`][Z m]^X]X]Z D]n`aX][Z gdd_wZ WkxZ yaXik]Xw]^][bZ g]XYhiX`]ZTYwWXbZ J]dcY`_wc[wxZ E][[Z b]X Tcz\W[bZ_^mZwWd`jZmcF`][Zb_]Z|X]mb][Z_^[ZziXZY]^XZ\_e^`_wZ^Wd`][xZ{^X]ZTkY_e^`jZ_^[Z]_[fcnX]_Y][jZ\WXZazz][Y_e^`d_e^xZ{[Z]_[]XZ][w][ZBX]_YkW^[ZYe^aFZ]XZWcz b_]ZXa`]ZDa[[]ZfcjZ_[[]X^WdkZb]X][ZBaXa[WZ]XZfcm_[b]Y`ZgaXik]Xw]^][bZY_e^]XZY]_[Z\iXb]xZS\]_ZQWcmYe^_zz]ZmW`]X_Wd_Y_]X`][ZgaXZ_^mxZTYwWXbZ`W`ZbWYZ_[ b_]Y]XZD_`cW`_a[Zg]Xm]_[`d_e^ZQ_e^`_w]xZT[Y`W``ZfcXZD]_`]Z^_[ZWcYfc\]_e^][jZXWY`]Z]XZ\]_`]XZWczZY_]ZfcjZc[bZ]XZ\WXZf\_Ye^][Z_^[][Z^_[bcXe^jZ]^]Zb_]ZwXaF][ }]Ye^i`f`iXm]Zz]c]X[Zna[[`][x IW[[Z`X][[`][Z_^[Z[cXZ[ae^Z\][_w]ZQ_e^`Y]nc[b][Zga[Zb]XZQ_]Y][Ya[[]x {[Zb]mZ@am][`jZ_[Zb]mZ]XZk]m]Xn`]jZbWFZb_]ZDe^_zz]Z_^mZ[_e^`Zzadw`][jZk]wX_zzZ]XZY]_[][Z|]^d]XxZTk]XZ]YZ\WXZk]X]_`YZfcZYh?`jZcmZ]X[]c`ZfcZzd_]^][x TcYZb]mZLX`c[wYYe^W``][Zb]XZDa[[]Z^]XWcYZwX_zz][ZY`WXn]ZUXWn`aXY`XW^d][Z[We^Z_^mxZTYwWXbZg]XYce^`]Zg]Xw]kd_e^jZ_^[][ZfcZ][`namm][xZl[Wcz^Wd`YWm \cXb]Z]XZWczZb_]Zw]zz[]`]ZKW[wWXYe^d]cY]Z]_[]XZ]XY`ZA]`f`ZY_e^`kWXZ\]Xb][b][ZD`W`_a[ZfcZw]faw][Zxxx G I]XZQWcmjZ_[Zb][Zb_]Z|X]mb][ZY_]Zw]kXWe^`Z^W``][jZ\WXZnW^dZc[bZkWXZA]b]XZ`]e^[_Ye^][ZR_[X_e^`c[wxZRXZk]YWFZb_]Z|aXmZ]_[]YZ]Wn`][Zw]am]`X_Ye^][ EiXz]dYZm_`Z]_[]XZBW[`][d?[w]Zga[Z]`\WZzi[zZ@]`]X[xZ|_[Y`]X[_YZ^]XXYe^`]xZMcXZ^_[Zc[bZ\_]b]XZkd_`f`][Z_[Zc[X]w]dm?F_w]XZ|adw]ZwX]dd]jZkd][b][b]ZQ_e^`]X WczjZb_]Zb][ZTcw][ZYe^m]Xf`][Zc[bZY]dkY`Zb_]Zw]Ye^daYY][][ZQ_b]XZbcXe^bXW[w][x CE_XZ^Wk][Zc[YZYe^[ZbcmmZW[w]Y`]dd`jZ[_e^`Z\W^XDjZk]m]Xn`]ZB_nZ`Xa`f_wxZDW[[VZW[`\aX`]`]Z[_e^`x CIcZ^?``]Y`Z]YZk]X]e^[][Zn[[][jZ[_e^`Z\W^XRD I_]Z@adWW`_[ZYe^i``]d`]Zb][ZBahzxZE_]b]XZzdWmm`]Z]YZncXfZ^_[`]X]_[W[b]XZ_[Zm]^X]X][ZE?[b][ZWczxZ|iXZb_]ZIWc]XZga[ZD]nc[b][kXce^`]_d][ZYe^_][ZB_nY D]]Y`]X[nXh]XZbcXe^Y_e^`_wZfcZ\]Xb][NZDW[[VZYW^Zb_]ZLXwW[]Z_[ZY]_[]mZ{[[]X[ZhcdY_]X][xZTczY`^[][bZhX]F`]ZY_]Zb_]ZK?[b]ZWczZ_^X]ZDe^d?z][Z~Z_^X De^?b]dZYe^_][Zf]XYhX_[w][ZfcZ\add][xZIWYZPae^][Zc[`]XZb]XZBahz^Wc`ZmWe^`]Z]YZc[mwd_e^jZJ]X]e^[c[w][ZW[fcY`]dd][xZS\]_z]ddaYZ\WXZb_]Y]YZWdd]Y bcXe^bX_[w][b]ZQ_e^`ZbWziXZg]XW[`\aX`d_e^xZRYZd?^m`]Zb_]ZPYVe^]Zc[bZd_]FZY_]Zm]^XZc[bZm]^XZ_[Z]_[]mZEcY`Z\_XXZbcXe^]_[W[b]X\_Xk]d[b]XZ}]bW[n][ g]XY_[n][xZB_nYZy]X^Wd`][Zk]\_]YZb]XZ@adWW`_[jZbWFZWce^Z]XZbWga[Zk]`Xazz][Z\WXxZI]XZd_]k][Y\]X`]ZJcXYe^]ZX]b]`]Zg_]djZhdWhh]X`]Z]_[zWe^ZbXWczdaYjZWdY \add]Z]XZY]_[]ZT[wY`Zc[bZl[Y_e^]X^]_`ZbW^_[`]XZg]Xk]Xw][xZDe^a[Zb_]Z|_[Y`]X[_YZ\_Xn`]Zf]XmiXk][bjZbWYZQ_e^`ZWk]XZ[ae^Z\]_`WcYZm]^XZ~Zn]_[]ZnXh]Xd_e^] |ad`]XZ^?``]ZYe^d_mm]XZY]_[Zn[[][ZWdYZb_]Y]YZ_[Zb][ZEW^[Y_[[Z`X]_k][b]ZE]e^Y]dYh_]dx DW[[VZ^W``]ZA]b][ZS]_`k]wX_zzZg]XdaX][jZY_]Z\cF`]Z[_e^`ZfcZYWw][jZakZY_]ZYe^a[ZY]_`ZD`c[b][Z_[Zb_]Y]mZ}]z?[w[_YZYWF][Zab]XZ]XY`Z\][_w]Z@_[c`][xZMcX ]_[]YZ\WXZ_^XZndWXEZSk]XZncXfZab]XZdW[wZmcF`][ZB_nZc[bZY_]ZfcZY]]d_Ye^][ZEXWenYZ\]Xb][jZb_]ZgaXk]^Wd`daYZ_^XZE_YY][ZWcYhdWcb]X`][xZD_]Z\iXb][Z]YZWdd]_[ Ye^a[Z b]Y^WdkZ `c[jZ cmZ b][Z wX]dd][Z Jd_`f][Z \][_wY`][YZ ziXZ ncXf]Z S]_`Z fcZ ][`w]^][xZ J?ce^d_[wYZ WczZ b]mZ wdW``][jZ zcw][daY][Z Jab][Z d_]w][bjZ b_]Z zi[z }d_]bmWF][Zik]XZb]mZBahzZ_[]_[W[b]XZg]X^Wn`Zc[bZY]_[]ZTcw][ZbWm_`ZbiXz`_wZk]b]en`jZYe^_][ZB_nZY]_[]XZR_[k_dbc[wZzX]_][ZQWczZfcZdWYY][xZDW[[VZ\]X`]`]
bWYZWdYZ]XY`]YZS]_e^][Z]_[]XZXWYe^ZgaXW[Ye^X]_`][b][Zy]X\_XXc[wxZI]XZD]]Y`]X[ZmcXm]d`]Z]`\WYZga[Z]_[]XZPX]ffWXd]Y]X_[Z[Wm][YZIA]XkYe^jZga[Z]_[]m PdW[]`][Z ydW^k^]V[Z ~Z \WYZ _mm]XZ bWYZ k]b]c`][Z mae^`]jZ b][[Z DW[[VZ ]XnW[[`]jZ bWFZ b_]Y]YZ EaX`Z ]_[]Z DV[`^]Y]Z WcYZ b][Z J]wX_zz][Z ydW^X]Y]XZ c[b J^]V[b]XZ\WXZ~Zc[bZga[ZT[[Vma[xZTdYZY_]Z_^[ZYW[z`Zk]Xi^X`]jZXadd`]Z]XZY_e^Z\_mm]X[bZfcYWmm][xZUXa`fb]mZ\WXZ_^XjZWdYZY]_Z_[ZY]_[]XZM?^]Zb]XZ?cF]X] R_[zdcFZ[_e^`Zm]^XZwW[fZYaZY`WXnxZSw]X[bZd_]FZY_]ZY_e^Z[_]b]XjZik]XnX]cf`]Zb_]ZJ]_[]Zc[bZg]XkWXwZ_^X][Z^WWXdaY][ZBahzZ_[Zb][ZKW[bzd?e^][x D_]ZYe^X]en`]ZA?^ZWczjZWdYZgaXZ_^XZ]_[]ZTzz[c[wZ_[Zb]XZEW[bZ][`Y`W[bxZLk\a^dZB_nZc[bZY_]ZW[zW[wYZb][ZQWcmZw][WcZc[`]XYce^`Z^W``][jZ^W``][ZY_]Z[_e^` ]_[mWdZb_]ZDhcXZ]_[]YZScwW[wYZw]zc[b][x Qaka`]XZYe^\]k`][Z^]X]_[xZD_]Zk]YWF][Zb_]Z_b]Wd]ZBcw]dzaXmxZR_[ZBXW[fZga[ZD]^f]dd][Z_mZak]X][ZIX_``]dZb]YZQcmhz]YZ]XdWck`]Z_^[][ZQc[bcmY_e^`jZc[b b_]ZdW[w][jZk_]wYWm][ZU][`Wn]djZb_]ZA]\]_dYZ_[ZbX]_Z}X]_zndWc][Z][b]`][jZmWe^`][ZY_]Zf\]_z]ddaYZfcZ]X[Y`ZfcZ[]^m][b][Z}]w[]X[x DW[[VZc[`]X[W^mZ[_e^`Zb][Zw]X_[wY`][Zy]XYce^Z]_[]XZ}]w][\]^XjZd]b_wd_e^ZB_nZYe^dcwZm_`ZY]_[][Zzi[zZ}d_]bmWF][Z^]z`_wZcmZY_e^jZ]XX]_e^`]ZbWm_`ZWk]XZ[cXj bWFZb_]ZQaka`]XZ^?X`]XZfchWen`][x I_]Z@adWW`_[Z\WXZik]Xf]cw`ZbWga[jZbWFZY_]ZY_e^Z_[Z]_[]XZD`W`_a[Zc[`]XZb]XZLk]Xzd?e^]Zga[ZS\_]d_e^`Zk]zW[b][xZIWYZE][_w]jZ\WYZY_]ZfcZY]^][Zk]nWmj k]Y`?`_w`]Z Y_]Z _[Z _^X]XZ @]_[c[wxZ TcYZ g]XkaXw][][Z Q_e^`Uc]dd][Z bXW[wZ w]b?mhz`]Z K]dd_wn]_`jZ b_]Z n]_[]Z De^W``][Z \WXzxZ Tdd]YZ \_Xn`]Z Y`]X_dxZ {[Z ]_[]m T[`_wXWgYe^We^`jZwXaFZw][cwZziXZb_]ZTcz[W^m]ZYh]XX_w]XZQWY`][jZYe^\]k`][ZY_]Z_[Zb_]ZK^]xZDW[[VZg]XYce^`]ZWkfcYe^?`f][jZ\_]Z\]_`jZwWkZ_^X][Zy]XYce^ Wk]XZ[We^Zb]XZbX]_F_wY`][ZR`Ww]Zg]X\_XX`ZWczxZM]c[^c[b]X`Z@]`]XZ~Zc[bZWdd]YZ\WXZ[ae^ZX_]Y_w]XxZE][[ZY_]Zb][ZBahzZ^akjZYe^_][Z]YZik]XZ_^XZn]_[ZR[b]Zfc w]k][xZKW``][Zb_]Z|X]mb][Zb][Z^Wdk][ZPdW[]`][ZWcYw]^^d`RZ{[Y`_[n`_gZW^[`]ZY_]jZbWFZY_]Z]_[]mZ}]^]_m[_YZWczZb]XZDhcXZ\WXjZbae^Zz_]dZ]YZ_^XZYe^\]Xj J]X]e^[c[w][Z_[Zw]\a^[`]XZE]_Y]ZW[fcY`]dd][xZ{Xw][b]_[Z?cF]X]XZR_[zdcFZ^_[b]X`]ZY_]ZbWXW[xZy_]dd]_e^`Zb_]Zc[w]\^[d_e^][ZD`XW^dc[wYg]X^?d`[_YY]Zb]X Iahh]dYa[[]jZb_]ZY_e^ZY]dkY`Z_[Zb_]Y]XZU_]z]Z[ae^Zk]m]XnkWXZmWe^`][xZR_[][Z@am][`ZdW[wZbWe^`]ZDW[[VZbWXW[jZbWFZS\_]d_e^`ZkWdbZb][ZDe^[_``hc[n`ZWdd]X De^\]XnXWz`d_[_][Z]XX]_e^`Z^Wk][ZmcF`]x I_]ZQaka`]XZg]Xd_]F][Zb][ZT[`_wXWgYe^We^`xZKW``]Z]YZk_YdW[wZYaZWcYw]Y]^][jZWdYZw?k]Z]YZ_[[]X^WdkZb]XZD`W`_a[Zn]_[]Zd]k][b][ZE]Y][jZYaZw]dW[w`]ZmW[ [c[Z_[Zk]d]k`]X]ZJ]X]_e^]xZI_]ZgaXik]X^WY`][b][Z|X]mb][ZYW^][Z`W`Y?e^d_e^Z\_]ZDadW[]XZWcYxZDW[[VZk]wW[[ZY_e^ZgaXfcY`]dd][jZ\]de^]YZl[^]_dZY_]ZY`_z`][ na[[`][jZzWddYZY_]Zg]XYce^`][jZb_]Z|X_]b][Yk]mi^c[w][Zf\_Ye^][Zb][Zydn]X[Zga[ZJWXYZc[bZ|WXV[`ZfcZ^_[`]Xw]^][x D`]en`]ZT[`_PRDZ^_[`]XZWddb]mR R_[ZDe^a``ZYe^\W[wZWczxZ{mZ]XY`][ZRXYe^X]en][ZwdWck`]Zb_]Z@adWW`_[jZ_[Zb][Zd]]X][ZE]d`XWcmZ^_[WcYfckd_en][jZbW[[Z]XnW[[`]ZY_]jZbWFZ]YZY_e^Zd]b_wd_e^ cmZ]_[Zh]Xz]n`]YZKadawXWmmZ^W[b]d`]jZWczw][amm][Zga[Z]_[]mZm_`Zl[`]Xd_e^`w]Ye^\_[b_wn]_`Zzd_]w][b][ZQWcmYe^_zzxZIWZY`W[b][Zf\]_ZD]YY]djZziXZb_] BXh]XmWF]Zga[ZB_nZc[bZDW[[VZg_]dZfcZwXaFxZI][[ae^Zd_]F][Zb_]ZQaka`]XZk]_b]Z^_[]_[zWdd][xZ|]YY]dz]db]XZ^_]d`][ZY_]ZWczZb][Z\]_e^][ZPadY`]X[Zz]Y`xZI_] wd]_e^ZbWXWczZga[Z_Xw][b\a^]XZ]Xnd_[w][b]ZD`_mm]Zk]b_][`]ZY_e^Zb]YZc[g]XY`?[bd_e^][Z{b_amYZb]XZ|X]mb][x Q]_Y]Z Y`^[][bZ Xadd`]Z B_nZ m_`Z b][ZTcw][xZ RXZ g]XYce^`]Z g]Xw]kd_e^jZ zX]_fcnamm][xZ I_]Z D`_mm]Z [W^mZ ]_[][Z bX?[w][b][Z BdW[wZ W[xZ D_]Z ^W``]Z ]`\WY Dcww]Y`_g]YZW[ZY_e^xZMae^Zc[`]XbXien`]ZDW[[VZb][ZS\W[wjZX]b][ZfcZmiYY][NZY_]Zn?mhz`]Zw]w][ZY_e^ZY]dkY`Z~Z]_[][Zd]`f`d_e^ZWcYY_e^`YdaY][ZBWmhzx De^a[Z^X`]ZY_]ZB_nZdaYhdWhh]X[xZE_]Z]_[ZEWYY]XzWddZYhXcb]d`][ZWddZb_]Zk]dW[wdaY][ZI_[w]ZWcYZ_^mZ^]XgaXjZb_]Z_^mZw]XWb]Z_[Zb][ZD_[[ZnWm][xZCIWY w][iw`FDZ]XndW[wZ]YZYe^XazzxZC{e^Z\_ddZ\_YY][jZ\]XZ]ce^Zw]Ye^_en`Z^W`xD B_nYZEaX`Ye^\WddZ^W``]Zb_]ZUXW[YdW`aX][Zb]XZ|X]mb][Zm_`Zb]mZ]XzaXb]Xd_e^][ZEaX`Ye^W`fZg]XY]^][x CM_]mW[bjZ[_e^`Z\W^XDjZYWw`]Z]XxZCIcZdiwY`xZRc]XZRXYe^]_[][ZfcZb_]Y]mZS]_`hc[n`ZnW[[Zn]_[ZSczWddZY]_[xD B]_[ZEaX`Zga[ZTYwWXbxZDadd`]Z_^mZb_]Z|dce^`Zw]dc[w][ZY]_[RZIWYZd_]FZDW[[VZ^azz][xZCE]de^][Z}Xc[bZ^?``]Z_e^jZfcZdiw][RDZm]_[`]ZB_nx Cy_]d]xZTk]XZbcZ\_XY`Z[_e^`ZdW[w]ZYe^\]_w][xDZI]XZc[m][Ye^d_e^]ZBdW[wZb]XZD`_mm]Zd_]FZDW[[VZ]XYe^Wcb]X[xZU?cYe^`]ZY_]ZY_e^jZab]XZf]_e^[]`]ZY_e^Z]_[ De^W``][Z_[m_``][Zb]YZKadawXWmmYZWkRZUW`Y?e^d_e^ZnWmZ]_[]XZb]XZ|X]mb][ZWczZY_]ZfcxZTczZY]_[][Zk]z]^d][b][ZE_[nZ^_[ZkXWe^Zb_]ZbX]_b_m][Y_a[Wd] J_db\_]b]XwWk]ZfcYWmm][Zc[bZd_]FZ]Xn][[][jZbWFZb]XZQWcmjZ_[Zb]mZmW[ZY_e^Zk]zW[bjZ_[ZE_Xnd_e^n]_`Zbahh]d`ZYaZwXaFZ\WXxZRYZmae^`]ZY_e^ZcmZ]_[]ZTX` S][`XWd]Z ^W[b]d[jZ b][[Z _mZ K_[`]XwXc[bZ ^]XXYe^`]Z X]w]Z }]Ye^?z`_wn]_`xZ I]XZ @W[[Z kd_]kZ c[m_``]dkWXZ gaXZ DW[[VZ Y`]^][xZ CE_XZ ^Wk][Z ]ce^Z dW[w]Z w][cw k]akWe^`]`jZk]gaXZ\_XZc[YZfcmZR_[wX]_z][Z][`Ye^daYY][xZEWYZYce^`Z_^XZWczZc[Y]X]XZE]d`RDZJX][[][bZXW[[Z_^XZb]XZDe^\]_FZ_[Zb_]ZTcw][jZWk]XZb_]Z@adWW`_[ na[[`]Zb_]ZTXm]Z[_e^`Z^]k][jZcmZY_e^Zik]XZb_]ZD`_X[ZfcZ\_Ye^][xZI]XZ|X]mb]ZwX_[Y`]ZY_]Z^]XWcYzaXb]X[bZW[xZ|iXZ]_[][Zzdie^`_w][Z@am][`ZwdWck`]ZY_]j T`dW[ZgaXZY_e^ZfcZY]^][xZD_]ZY`W[bZc[`]XZ]_[]mZDe^aenjZb][Zb_]Z[ae^Z_mm]XZ_[Z_^XZg]X\cXf]d`]Z|_[Y`]X[_YZc[bZb_]Zfcen][b][ZwX]dd][ZJd_`f]ZWcYw]dY` ^W``][jZak\a^dZY_]Zg]Xf\]_z]d`Zg]XYce^`]jZbWw]w][ZW[fcn?mhz][x CEWYRDZbX?[w`]Zb]XZ|X]mb]xZJd_`fYe^[]ddZhWen`]Z]XZfcZc[bZf\W[wZY_]jZ_^[ZW[fcY]^][xZR_[Z^WX`]XjZ]XkWXmc[wYdaY]XZScwZcmYh_]d`]ZY]_[]Z@c[b\_[n]dxZI_] Y`]e^][b][jZ`_]zZ_[Zb][ZK^d][Zd_]w][b][ZTcw][ZYe^_][][ZDW[[VZbcXe^ka^X][ZfcZ\add][x CT[`_PRDZxxxDjZmcXm]d`]ZY_]xZE_]Zga[ZY]dkY`ZnWm][Zb_]ZEaX`]Zik]XZ_^X]ZQ_hh][xZCE_XZYce^][Z]_[][ZSk]XwW[wZ_[Zb_]ZMWm][ZxxxDZB_nYZg]Xf\]_z]d`]YZVe^f][ c[`]XkXWe^ZY_]xZDW[[VZk]m]Xn`]jZbWFZ]XZY_]ZW[Y`WXX`]x I]XZ}X_zzZb]YZ|X]mb][Z\cXb]Z^?X`]XxZUXa`fb]mZkXWe^`]Zb_]Z@adWW`_[Z[c[Z]_[ZQ?e^]d[ZfcY`W[b]xZ{[Y`_[n`_gZzXWw`]ZY_]ZY_e^jZ\WYZm_`Z_^XZw]Ye^W^jZB_nYZJd_en Xc^`]Z[ae^Z_mm]XZWczZ_^XxZ{[Z_^X][Z}]bW[n][Z\_Xk]d`]ZWdd]YZ^Wd`daYZbcXe^]_[W[b]Xx C{e^Z\]Xb]Z[_e^`YZYWw][DjZ]Xnd?X`]ZY_]xZ{[Z]_[]mZE_[n]dZ_^X]YZJ]\cF`Y]_[YZn]_m`]Zb_]ZT^[c[wjZbWFZb]XZydW^X]Y]XZziXZ_^X]Zhd`fd_e^]ZRmhz_[bc[wYdaY_wn]_` g]XW[`\aX`d_e^Z\WXxZTdd]YZcmZY_]Z^]XZg]XYW[nZ_[ZJ]b]c`c[wYdaY_wn]_`xZI_]ZDe^m]Xf][Z\WX][Z\_]Z\]ww]\_Ye^`xZl[k]`]_d_w`Z[W^mZDW[[VZ\W^XjZbWFZb]X |X]mb]ZY_]ZYe^dcwxZRXZg]XdaXZfcY]^][bYZb_]Z|WYYc[wZc[bZ\cXb]Z\i`][b]XxZI]XZ[aXmWd]ZTXk]_`YWkdWczZ_[[]X^WdkZb]XZS][`XWd]Zw]X_]`Z_[YZD`aen][xZ{mm]X m]^XZzXWw][b]Z}]Y_e^`]XZ\W[b`][ZY_e^Z_^[][ZfcxZDW[[VZ\WXZ]YjZWdYZYe^\]k]ZY_]Zik]XZb][ZI_[w][NZB_nYZM?^]Zik`]Z]_[][Zk]Xc^_w][b][ZR_[zdcFZWcYx CJX_[w`ZY_]Z\]wFDZYe^X_]Zb]XZ@W[[ZgaXZ_^XxZCQWF`ZY_]ZYaZdW[w]ZYe^maX][jZk_YZY_]ZX]b][FDZI_]ZU][`Wn]dZ]_[]YZQaka`]XYZf]XX`][ZDW[[VZWcYZb]mZD]YY]dx |die^`_wZ]mhzW[bZY_]Z|cXe^`ZbWgaXjZfcXienw]kXWe^`ZfcZ\]Xb][x Da\]_`Z \_XbZ ]YZ [_e^`Z namm][jZ Ye^_][Z B_nYZ E_[n][Z fcZ k]b]c`][xZ @_`Z g_]XZ Y]_[]XZ }d_]bmWF][Z ndWmm]X`]Z b]XZ D]]Y`]X[Z Y_e^Z W[Z b][Z Bcw]dnXh]XZ b]Y Qaka`]XYxZ{mZ[?e^Y`][Z@am][`ZX_FZb_]Z@WYe^_[]Z_^X]ZEWzz][WXm]Z^ae^xZ|Wce^][bZkXWe^][Z}dc`kW^[][ZWcYZb][ZTkY`XW^dmi[bc[w][Z^]XgaXxZR[`Y]`f`] De^X]_]Z \cXb][Z dWc`xZ {mZ K_[`]XwXc[bZ _mhdab_]X`][Z J_dbYe^_Xm]Z m_`Z dWc`]mZ B[WddxZ T[Z g]XYe^_]b][][Z D`]dd][Z k]wW[[Z b]XZ Jab][k]dWwZ kdWY][\]Xz][b
Wczfcwdi^][xZIc[nd]XjZYe^\]X]XZWcWdmZk]^_[b]X`]Zb_]ZD_e^`jZ]YZXae^Z[We^ZLfa[Zc[bZg]XYe^maX`]mZBc[Y`Y`azzx I]XZQaka`]XZYe^\]k`]ZfcXZI]en]Z]mhaXZc[bZk]wW[[Zga[Zak][Z^]XZWdd]YjZ\WYZY_e^Zk]\]w`]jZc[`]XZJ]Ye^cFZfcZ[]^m][xZB_nZ^_[wZ\_]Z]_[]Zb_en]ZXa`] Bd]``]ZW[Z_^mxZDW[[VZf\]_z]d`]Z[_e^`Z]_[]ZD]nc[b]ZdW[wZbWXW[jZbWFZb]XZydW^X]Y]XZziXZbWYZ][`Y`W[b][]ZIcXe^]_[W[b]XZb_]Zy]XW[`\aX`c[wZ`XcwjZWce^Z\][[ _^XZc[g]XY`?[bd_e^Z\WXjZ\_]Z]XZbWYZPXawXWmmZb]XZ@WYe^_[]Zk]]_[zdcF`]x Mae^Z_mm]XZX]w`]ZY_e^Zn]_[]Z}]w][\]^XxZI_]Z|X]mb][ZYe^_][][ZY_e^Z_[[]X^WdkZ_^X]XZD`W`_a[ZfcZY_e^]XZw]zi^d`ZfcZ^Wk][xZRXY`Wc[d_e^ZWce^jZbWFZn]_[]X g]Xd]`f`Z \cXb]jZ ak\a^dZ b_]Z @WYe^_[]Z c[c[`]XkXae^][Z z]c]X`]xZ @]`]X^a^]Z D`_e^zdWmm][Z g]X\iY`]`][Z ]_[][ZTwwX]wW`kdaenZ c[bZ Ye^\?Xf`][Z b_]Z I]en]x I]c`d_e^Zna[[`]ZDW[[VZ]Xn][[][jZbWFZ]_[Z@W[[Zga[Zwdi^][b][ZUXimm]XY`ien][Zw]`Xazz][Z\cXb]xZI][ZJXce^`]_dZ]_[]YZTcw][kd_enYZfcgaXZg]XYe^\Wmm][ A]bae^ZY]_[]ZlmX_YY]ZYe^W``][^Wz`xZI]XZQaka`]XZYe^aFZWczZ_^[jZna[[`]Z_^[ZWk]XZ]k][zWddYZ[_e^`ZWcz^Wd`][x I_]ZQcz`Z\WXZnWcmZm]^XZW`]mkWXjZY_]ZkXW[[`]Z\_]Z|]c]XZ_[Zb][ZQc[w][xZDW[[VZzi^d`]jZbWFZ_^X]ZD_[[]ZY_e^ZWddm?^d_e^Z\_]b]XZg]X\_XX`][xZI]XZQaka`]XjZb]X Y_]Z[We^Z\_]ZgaXZz]Y`ZcmndWmm]X`Z^_]d`jZ^W``]Zk_YdW[wZX]wc[wYdaYZg]X^WXX`xZMc[Zmae^`]Z]XZ[]c]ZJ]z]^d]Z]X^Wd`][Z^Wk][jZb][[Z]XZ][`z]X[`]ZY_e^ZYe^[]dd]X \]Xb][bZ_[ZQ_e^`c[wZWczZbWYZwXaF]ZDe^a``xZDe^dWwWX`_wZ^]XXYe^`]ZQc^]jZ[cXZc[`]XkXae^][ZgamZB[_Y`]X[Zc[bZB[Wen][ZWkni^d][b][Z@]`WddYxZI]XZW[b]X] Qaka`]XjZ_[Zb]YY][ZU][`Wn]d[ZB_nZ^_[wjZ^W``]ZbWYZ|]c]XZ]_[w]Y`]dd`xZE_]ZbcXe^Z]_[][Z`Xik][ZDe^d]_]XZ^_[bcXe^Zna[[`]ZDW[[VZ]Xn][[][jZbWFZb]XZydW^X]Y]X azz][kWXZ b_]Z J]Y_[[c[wZ g]XdaX][Z ^W``]xZ IWYZ k]Y`?Xn`]Z Y_]Z _[Z _^X]XZT[[W^m]jZ ]XZ n[[]Z b]XZ lX^]k]XZ b]YZ S\_Ye^][zWddYZ w]\]Y][Z Y]_[xZ D_]Z mcF`]Z Y_e^ ]_[w]Y`]^][jZbWFZY_]Zd?[wY`Z[_e^`Zw][cwZik]XZb][ZXa`^WWX_w][ZJcXYe^][Z\cF`]xZTce^Z\][[Z]XZc[Ye^]_[kWXZ\_Xn`]Zc[bZm_`c[`]XZYawWXZd]_e^`Z]_[z?d`_wZ~ Ye^_][Z]XZ|?^_wn]_`][ZfcZk]Y_`f][jZga[Zb][][Z[_]mW[bZ]`\WYZW^[`]x I_]ZQaka`]XZkXWe^`][ZY_]Z_[Zb][Z}]z?[w[_YXWcmZfcXienx
G
De^\?Xf]Z~Zk]?[wY`_w][bZc[bZgaddnamm][jZW[w]zidd`Zm_`ZWdd][ZDe^X]en][Zm][Ye^d_e^][ZI][n][Yx
IW[[Z\_]b]XZQ_e^`Z~Z]_[ZncXf]XjZwd]_F][b]XZJd_`fjZY_e^Zw_]X_wZ^_[]_[zX]YY][bZ_[ZA]b]Z]_[f]d[]ZM]Xg][f]dd]jZYe^m]Xf^Wz`Zc[bZf]XY`X]X_Ye^x
MWe^b]mZ b_]Z Qaka`]XZ Y_]Z We^`daYZ Wkw]dWb][Z ^W``][jZ ^W``]Z DW[[VZ Y_e^Z fcZ B_nZ gaXw]`WY`]`jZ b]XZ [ae^Z _mm]XZ a^[]Z J]\cF`Y]_[Z \WXxZ McXZ mW[e^mWd
bcXe^d_]z][ZScenc[w][ZY]_[][Z\]_e^][ZBXh]Xx
ScmZ]XY`][mWdZY]_`ZdW[w]mZYhiX`]Zb_]Z@adWW`_[Z\_]b]XjZ\_]Zk]nd]mm][bZKazz[c[wYdaY_wn]_`ZY]_[ZnW[[xZD_]Zzi^d`]ZY_e^Zd]]XZc[bZWcYw]kXW[[`xZl[`]XZb_]Y][
lmY`?[b][ZWce^Z[cXZ]_[]Z]_[f_w]ZJ]X]e^[c[wZWczfcY`]dd][jZ\WXZc[mwd_e^x
DW[[VZYe^dce^f`]Zd]_Y]xZD_]Z\WXZY_e^Z_^X]XZDWe^]ZYaZY_e^]XZw]\]Y][Z~ZfcZY_e^]XjZ\_]ZY_]ZY_e^Z[c[Z]_[w]Y`W[bx
O]b]XZ wX]dd]Z Jd_`fZ zXWFZ ]_[Z D`ienZ _^X]XZ Y]dkY`xZ I_]Z WkYadc`]Z D`_dd]Z \WXZ f]XmiXk][bxZ {[[]Xd_e^Z \]^X`]Z b_]Z PWXWmW`^]mW`_n]X_[Z Y_e^Z w]w][Z A]b]YZ []c]
Tczd]ce^`][jZg]XnXWmhz`]ZY_e^jZg]XkWXwZY_e^ZYe^d_]Fd_e^ZYawWXZ^_[`]XZY]dkY`f]XY`X]X_Ye^][Z}]bW[n][xZBa[[`]Z]YZ]_[]ZYe^d_mm]X]ZTX`Zb]XZ|ad`]XZw]k][R R[bd_e^Zk]wW[[ZB_nZY_e^ZfcZX]w][xZTdYZYce^]Z]XZK_dz]Zk]_Zb]XZ@adWW`_[jZcmndWmm]X`][ZY]_[]Zzi[zZTXm]Z_^X][Zf_]Xd_e^][ZBXh]XZc[bZfaw][ZY_]ZfcZY_e^Z^]XW[x DW[[VZw][aFZY]_[]ZM?^]jZb_]Z_^XZ\_]Z]_[ZXc^][b]XZPadZ]XYe^_][jZY_]Zd_]FZ]YZfcjZbWFZ]XZY_e^ZYW[z`Zik]XZY_]ZYe^akxZC}c`ZYajZ[_e^`Z\W^XxD D]_[]Zw]zdiY`]X`][ZEaX`]ZbXW[w][Z[cXZdW[wYWmZ_[Z_^XZk]\cF`]YZI][n][ZgaXx CB_nZ_Y`Zwc`jZ[_e^`RD COWDjZ[_en`]ZDW[[VZma[a`a[xZCIcZxxxDZD_]Zc[`]XkXWe^ZY_e^xZI_]Z|_[Y`]X[_YZ\WXZhd`fd_e^Z[_e^`Zm]^XZYaZnWd`jZbWYZTczkd_`f][Z\]_`Z\][_w]XZYe^m]Xf^Wz`ZWdY ]k][Z[ae^x B_nZd_]FZ]_[Zd]_Y]YZB_e^]X[Zg]X[]^m][xZC{e^Zk]Ye^i`f]Zb_e^jZBd]_[]YjZ[_e^`Z\W^XxZ}][WcYaZ\_]Z_e^ZT`dW[Zk]Ye^i`f`Z^Wk]jZbWmWdYjZWczZb]XZJWY_YZb]YZRXY`][ S?^d]XYxDZCE_]ZmWe^Y`ZbcZbWYRD C{e^Z\]_FZ[_e^`jZ[_e^`Z\W^XxD CDhWX]Zb_XZb]_[]Znam_Ye^][ZScY?`f]xZ{e^Zb][n]jZbcZk_Y`Z_[`]dd_w][`]XjZWdYZbcZb_e^Zw_kY`xDZB_nZYe^\_]wZziXZ]_[]ZE]_d]x C{e^Z\]_FZ]YZ\_Xnd_e^Z[_e^`DjZk]`]c]X`]Z]XZbW[[xZCy_]dd]_e^`ZnW[[Y`ZbcZk]X]e^[][jZ\WYZm_`Zm_XZdaYZ_Y`xD C}dWckY`ZbcjZbWYZ^?``]Z_e^Z[_e^`Zd?[wY`Zg]XYce^`RD Q_]knaY][bZY`X_e^Zb]XZ]_[]mZD]]Y`]X[Z?^[d_e^]ZydW^X]Y]XZik]XZDW[[VYZd_[bwXi[][ZP]dfxZCE_XZk]_b]Zw]^X][ZfcYWmm][DjZYWw`]Z]XxZCE]_dZ_e^ZY]_`Zb][ }]Ye^]^[_YY][Z_[Zb]XZMWm][daY][ZSa[]Z]_[ZQ]k][Zga[Zb_XZ_[Zm_XZ`XWw]RD CIWYZ_Y`Z[_e^`ZWcYYe^dWww]k][bxDZCIcZwdWckY`ZbWXW[jZbWFZc[Y]XZDe^_enYWdZgaX^]Xk]Y`_mm`Z_Y`jZ[_e^`Z\W^XDjZg]Xmc`]`]ZDW[[Vx CK?DjZmWe^`]ZB_nZik]XXWYe^`x C{e^Zm]_[]jZbcZxxxD CM]_[jZ[_e^`ZbWYDjZ\]^X`]Z]XZYe^[]ddZWkxZCIcZ^WY`Z[cXZw]XWb]ZX[_e^`Z\W^XYZw]YWw`xDZB_nZk]\]w`]ZY_e^ZYaZc[w]Ye^_en`jZbWFZ]XZDW[[VZ]_[zWe^ZcmY`_]Fx Q]e^`Zc[YW[z`ZdW[b]`]ZY_]ZWczZ_^X]mZg]Xd?[w]X`][ZQienwXW`x C@W[e^mWdZ_Y`Z]YZY_[[daYjZm_`Zb_XZb_Ync`_]X][ZfcZ\add][DjZY]czf`]ZY_]xZC{e^ZY`]dd]Z[cXZb_]ZUW`YWe^][Zz]Y`xZyaXZ]_[_w][ZD`c[b][Z\WXY`ZbcZ]k][YaZ^_dzdaYZ\_] _e^jZ[c[Zk]Ye^i`f`ZbcZm_e^ZgaXZb]XZhYVe^_Ye^][Z|ad`]XZc[bZYe^]_[Y`ZY]dkY`Z[W^]fcZ_mmc[ZfcZY]_[xZIcZna[[`]Y`Z]_[][ZQaka`]XZb]XZ|X]mb][Zk]]_[zdcYY][j b]XZbWXWcz^_[Z]_[Z[_e^`ZfcZc[`]XYe^?`f][b]YZ|]c]X\]XnZg]XW[Y`Wd`]`]xD CKWk]Z_e^ZbWYRZl[bZY]_`Z\W[[Zk]b_][Y`ZbcZb_e^Zb_]Y]XZY]d`YWm][ZTcYbXcenY\]_Y]RZIcZmWe^Y`ZY_]Zb][ZDadW[]X[Z[We^jZ[_e^`Z\W^XRDZCy]XYce^]Z[_e^`j
m_e^ZWkfcd][n][xDZDW[[VZY`_]FZga[Zc[`][Z^]XZ_^X]Z|WcY`Z_[ZB_nYZE]_e^`]_d]jZ\WYZ]XZbcXe^WcYZWdYZzX]c[bYe^Wz`d_e^][ZBdWhYZWcz[W^mxZC{e^ZnW[[Zb_e^Z[_e^` k]X]e^[][xD CIW[[Z\_ddZ_e^Zb_XZ]`\WYZYWw][jZbcZnd]_[]YZQ]e^][w][_]EZ@wd_e^jZbWFZb_]ZD`XW^dc[wZb]XZk]_b][ZDa[[][ZbWXW[ZYe^cdbZ_Y`jZg_]dd]_e^`ZWce^Zb]XZg]Xmc`]`] Sk]XwW[wZfcXZMWm][daY][ZSa[]jZb][ZbcZWdYZMWk]dZk]f]_e^[]Y`jZab]XZYa[Y`Z\WYxZ{e^Z\]_FZ]YZ[_e^`jZ_e^Z\_ddZ]YZ[_e^`Z\_YY][jZ_e^ZxxxZEWXcmZ]X]_z]X]Z_e^Zm_e^ ik]X^Wch`ZYaRZE_XZYadd`][Zd_]k]XZfcY]^][jZbWFZ\_XZ]_[][ZTcY\]wZz_[b][xZ{e^Z^Wk]Z[?md_e^ZbWYZbcmm]Z}]zi^djZbWFZ\_XZc[YZk]_[W^]ZYe^a[Z_[Zb]XZ}]\Wd` ga[ZT[`_PRDZk]z_[b][jZ[_e^`Z\W^XxD l[`]XZB_nYZWczw]\dk`]mZBXh]XZzi^d`]ZDW[[VZY_e^Zw]kaXw][xZI_]Zga[ZQ_e^`kd_`f][ZbcXe^fcen`]Z|_[Y`]X[_YZ\WXZw]kd_]k][jZb][[ae^ZYe^\W[bZb]XZTdh`XWcm mWYY_g]XZJ]]_[zdcYYc[wZm]^XZc[bZm]^XxZ{mZwd]_e^][ZTcYmWFZw]\W[[Zb_]Z@adWW`_[Z_^XZB[[][ZfcXienjZWcYZb][ZgaX^W[b][][Z|Wn`][Z]_[b]c`_w]ZDe^diYY] fcZf_]^][x I]m[We^Zk]zW[bZmW[ZY_e^Z[ae^ZWczZS\_]d_e^`jZc[bZb_]Zw_wW[`_Ye^]Z`]e^[_Ye^]ZT[dWw]Z\WXZU]_dZb]YZMWk]dYjZb]XZy]Xk_[bc[wZfcXZMWm][daY][ZSa[]xZIcXe^ b_]ZSk]XdWhhc[wZb]XZ}WdW_][ZJWXYZc[bZ|WXV[`ZmcF`][Zm]^X]X]ZYade^]XZSk]Xw?[w]Z][`Y`W[b][ZY]_[jZb_]Zm]_Y`][ZbWga[Z\a^dZ_[Y`Wk_dZab]XZfcm_[b]Y` De^\W[nc[w][Zc[`]X\aXz][xZI_]Z@WYe^_[][Z_mZ{[[]X[Zb]YZPdW[]`][Z\WX][Z_mY`W[b]jZ_[Z]_[]mZ][wZk]wX][f`][Zlmz]dbZb][ZSk]XwW[wZYa\a^dZni[Y`d_e^ ^]XgaXfcXcz][ZWdYZWce^Zk]d_]k_wZfcZ]X^Wd`][Zab]XZfcZY`Wk_d_Y_]X][xZCRYZnW[[Z[_e^`Zm]^XZdW[w]ZbWc]X[jZk_YZS\_]d_e^`Zb][ZDe^\]Xhc[n`Zf\_Ye^][Zb][ZDa[[][ hWYY_]X`DjZwWkZB_nZfcZk]b][n][xZCE_XZ\]Xb][Zc[YZbWXWczZgaXk]X]_`][jZ[_e^`Z\W^XxDZDW[[VZ^W``]Z]XX]e^[]`jZbWFZb]XZPdW[]`Z[cXZ]`\WZWdd]Zf\dzZOW^X]Zb_]Y][ D`W[bZ]XX]_e^`]jZc[bZbWFZb_]ZY_e^Zw]w][Y]_`_wZWcz^]k][b]ZDe^\]XnXWz`Zb]XZk]_b][ZDa[[][ZR_[zdcFZWczZb_]ZQWcmnXimmc[wZ[W^mxZIWk]_Zmae^`]Z]YZfc Rzz]n`][Z namm][jZ b_]Z b_]ZTczm]XnYWmn]_`Z b]XZ |X]mb][Z gaddZ _[ZT[YhXce^Z [W^m][jZ bWFZ b_]Y]Z Y_e^Z [_e^`Z WcF]Xb]mZ m_`Z _^X][Z }]zW[w][][Z k]zWYY][ na[[`][x G I_]Z]XY`][Zy]X?[b]Xc[w][Z`XW`][ZYe^[]dd]XZWczjZWdYZB_nZc[bZDW[[VZg]Xmc`]`Z^W``][xZQ`d_e^]ZQ_e^`Ye^d]_]XZbcXe^bXW[w][Zb_]ZE?[b]Z_^X]YZ}]z?[w[_YY]Yj g]X`]_d`][ZY_e^Z\_]Zz]_[]XZM]k]dZc[bZg]XYe^\W[b][Z_[[]X^WdkZga[ZD]nc[b][Z\_]b]XjZ[cXZcmZA]b]YmWdZW[ZW[b]X]XZD`]dd]Z]X[]c`ZWczfc`Wce^][Z~Zd?[w]XZc[b ]_[Z\][_wZ_[`][Y_g]XxZI_]Z|_[Y`]X[_YZ\_e^Zb]mZzW^d][ZQ]ce^`][x I_]ZDe^\]XnXWz`jZ]k][YaZ^ae^Z\_]ZW[ZJaXbZb]XZDLQjZ\cXb]ZDe^\W[nc[w][Zc[`]X\aXz][xZE][[ZB_nZY_e^ZYW[z`ZWkY`_]FjZna[[`]Z]XZm]`]X\]_`]ZDhXi[w] gaddzi^X][x CQWFZb][ZJdbY_[[DjZ`Wb]d`]ZDW[[VxZCE][[Zb_]ZTcY\_Xnc[w][Z_[YZ}]w][`]_dZcmYe^dWw][jZkX_e^Y`ZbcZb_XZbWYZ}][_enxD D_]Zna[[`][Zhd`fd_e^Zb][Z}W[wZY]^][jZb]XZgaXZ_^X]mZ}]z?[w[_YZg]Xd_]zxZTk]XZ[ae^Z]^]ZY_]Zb_]ZD`]dd]Z]XX]_e^`][jZg]XdaXZb_]ZEW[bZ_^X]ZUXW[YhWX][fZ\_]b]Xx Q]_e^`]ZRXYe^i``]Xc[w][ZbcXe^d_]z][Zb][ZJab][jZk]wd]_`]`Zga[Zb][Z}]X?cYe^][ZWczZyaddWY`ZWXk]_`][b]XZR[]Xw_]]Xf]cw]Xx B_nZX]en`]ZY_e^ZWczZbX]_ZY]_[]XZ}d_]bmWF][ZfcZgadd]XZ}XF]ZWczZc[bZg]XYe^X?[n`]Zb_]Zk]_b][ZW[b]X][ZTXm]Z^]XWcYzaXb]X[bx CK]DjZX_]zZ]XxZCEW[[ZkX]e^][Z\_XZ][bd_e^ZWcYRD CMae^Z^W`Zb]XZPdW[]`Zb_]Zah`_mWd]ZPaY_`_a[Z[_e^`Z]XX]_e^`xD CEa^]XZ\_ddY`ZbcZbWYZ\_YY][RD C{e^Z^Wk]Z]YZk]X]e^[]`xD CKmDjZkXcmm`]ZB_nxZCI]_[]ZJ]X]e^[c[w][ZkWY_]X][Zd]b_wd_e^ZWczZy]Xmc`c[w][jZ[_e^`Z\W^XRD {mZ [?e^Y`][Z @am][`Z fawZ DW[[VZ _^[Z ]_[zWe^Z ^_[`]XZ Y_e^Z ^]XjZ WczZ b_]Z ]X[]c`Z `XW[YhWX][`Z w]\aXb][]Z EW[bZ fcxZ R_[Z zdie^`_w]XZ E_[b^Wce^Z Ye^_][Z Y_]Z fc Y`X]_z][jZbW[[Z\WX][Zk]_b]Z^_[bcXe^Zc[bZ\cXb][Zga[Zb]XZncXfzX_Y`_wZW[Y`]_w][b][ZDe^\]XnXWz`Z_[Zb_]ZB[_]Zw]f\c[w][xZB_nZ\add`]Z]`\WYZYWw][jZkXWe^`] Wk]XZ[cXZ]_[Z^]_Y]X]YZD`^[][Z^]XgaXxZDW[[VYZ}X_zzZdaen]X`]ZY_e^x CK]DjZ]XndW[wZ]YZ^_[`]XZ_^[][xZCEW[[ZkX]e^][Z\_XZ][bd_e^ZWcYRD I]XZ ydW^X]Y]XjZ b]XZ YW^jZ \_]Z b_]Z @adWW`_[Z c[wd?ck_wZ b_]ZTcw][Z WczX_FjZ \_Xk]d`]Z ^]XcmxZ J_YZ ]XZ k]wX_zzjZ \]Y^WdkZ b_]Z D`_mm]Z _^mZ YaZ ]_w][WX`_wZ g]X`XWc` gaXnWmjZ\WXZ]YZk]X]_`YZfcZYh?`xZI]XZDe^X]enZd_]FZ_^[Z`Wcm]d[xZCIWYjZbWYZxxxZk_[Z_e^ZY]dkY`ZxxxDjZY`Wmm]d`]Z]Xx DW[[VZ[_en`]ZYe^\]Xx CTPWk]XZ\_]YaRZl[bZ\]Y^WdkZWcYw]X]e^[]`Z_e^RDZB_nZY`WXX`]ZY]_[ZRk][k_dbZW[jZWdYZY`i[b]Z]XZ]_[]mZ}]_Y`Zw]w][ik]XxZI]XZW[b]X]Z^_[w]w][ZYe^_][Z_^[ ik]X^Wch`Z[_e^`Z\W^Xfc[]^m][xZCUc`jZWdYZ\?X]Z_e^ZQcz`ZziXZ_^[xZE]XZ_Y`ZbWYZik]X^Wch`jZ^]RZR_[]Z[]c]ZU]cz]d]_Zga[ZT[`_PRDRD Sw]X[bZmWe^`]ZB_nZ]_[][ZDe^X_``ZgaX\?X`YjZbW[[Z]_[][Zf\]_`][xZDW[[VZ^_]d`Z_^[ZX]e^`f]_`_wZfcXienjZ]^]Z]XZb_]ZEW[bZfcmZf\]_`][mWdZbcXe^bX_[w][Zna[[`]x IWYZ\WXZY]_[Z}dienjZb][[Zwd]_e^ZbWXWczZ\cXb]Zb_]Y]Z\_]b]XZYaZmW`]X_]ddZ\_]ZfcgaXxZl[wd?ck_wZndW`Ye^`]ZB_nZ]_[][ZY]_[]XZTXm]ZbWw]w][xZ@_`Z]_[]m W[b]X][ZnXW`f`]Z]XZY_e^ZWmZBahzx CBammZYe^a[DjZbX?[w`]ZDW[[VxZCK_]XZn[[][Z\_XZ[_e^`Zkd]_k][xD CIcZ\_ddY`Z]_[ZQWcmYe^_zzjZ[_e^`Z\W^XRDZCxxxZab]XZ]_[]ZKVh]Xzc[nW[dWw]xZTczZA]b][Z|WddZmiYY][Z\_XZmwd_e^Y`ZYe^[]ddZ\]_`Z\]wZga[Z^_]XxD B_nYZTcw][Z\]_`]`][ZY_e^Z_[Zazz][Y_e^`d_e^]mZRXY`Wc[][xZD_]Zz__]X`][ZA][][ZU]_dZb]YZ}W[w]YjZb]XZ^_[`]XZDW[[VZdWwx Sw]X[bZ\W[b`]Zb_]Z@adWW`_[ZY_e^ZcmxZTce^Zik]XZ_^X]ZSiw]Z^cYe^`]Z]_[ZDe^W``][Zb]XZy]X\c[b]Xc[wx CEWYZ\add`Z_^XZga[Zc[YRDZY`_]FZY_]Z^]XgaXxZCOWjZw][WcZbWYZme^`]Z_e^ZWce^Z\_YY][jZ[_e^`Z\W^XDjZk]nX?z`_w`]ZB_nZ]_zX_wxZB]_[]Zzi[zZ@]`]XZ][`z]X[`ZY`W[b][ _^X]Z Rk][k_db]XZ c[bZ kd_en`][Z Y_e^Z Yce^][bZ cmxZ I]XZ W[b]X]Z B_nZ Ye^_][Z ik]XXWYe^`Z c[bZ g]X\_XX`Z fcwd]_e^jZ \?^X][bZ DW[[VZ W[Z Y]_[]XZ D]_`]Z ik]XWcY
[We^b][nd_e^Z_[Z_^X]ZQ_e^`c[wZYW^xZCR_[]ZEWzz]ZxxxDjZAWmm]X`]Zb]XZCX_e^`_w]DZB_nx CEafcRD ClmZb_]Y]ZxxxZb_]Y]Z}]Ye^hz]Zga[ZT[`_PRDZfcZg]XAWw][jZ]^]ZY_]Zik]XZc[YZ^]XzWdd][xDZCl[YZbXa^`Zn]_[]Z}]zW^XDjZ]X\_b]X`]ZDW[[VZYW[z`xZD_]ZYe^\_]wjZWdY _^XZRk][k_dbZ]_[][ZTXmZWcYY`X]en`]Zc[bZ_[Z_^X]ZQ_e^`c[wZb]c`]`]xZCD_]^Y`ZbcDjZndW[wZ]YZWczxZCIWZ_Y`Z[_]mW[bxD CTk]XDjZ]X\_b]X`]Zb]XZW[b]X]ZB_nxZCD_]Z\WX][ZbWjZ[_e^`Z\W^XxD CO]`f`Zg]XY`]^]Z_e^Zik]X^Wch`Z[_e^`YZm]^XxDZC{e^ZwdWck]DjZ]Xnd?X`]ZDW[[VjZCb_]ZS]_`ZYh_]d`Zc[YZ]_[][ZD`X]_e^xZI_]Zg]X?[b]X`]ZQWcmnXimmc[wZYe^]_[`Z[_e^` a^[]Z|adw][Zw]kd_]k][ZfcZY]_[xZEWYZ\_XZY]^][jZ_Y`Zb_]ZScnc[z`xD CS]_`RDZ\_]b]X^ad`]ZB_nZc[wd?ck_wxZl[\_ddniXd_e^ZmWe^`]Z]XZ]_[_w]Z^WY`_w]ZDe^X_``]ZgaX\?X`YxZE_]Zk]_mZJd_enZ_[Z]_[][ZDh_]w]djZb]XZga[Z]_[]mZg]X?[b]X`][ D`W[bhc[n`ZWcYZ]_[Zw?[fd_e^ZW[b]X]YZJ_dbZ\_]b]Xw_k`jZg]XYe^\W[b][Z_^X]ZRk][k_db]XZga[Z]_[]mZ@am][`ZfcmZW[b]X][ZYhcXdaYxZCIcZm]_[Y`jZbWYZ\WX][Z\_X Y]dkY`jZ[_e^`Z\W^XRZS\]_mWdZ]_Y`][`ZfcXZY]dk][ZS]_`RD CM_e^`ZfcXZY]dk][ZS]_`xZ{[Z}]w][\WX`Zc[bZScnc[z`xDZDW[[VZ^W``]ZB_nZ]_[w]^ad`Zc[bZf\W[wZ_^[ZbWfcjZY_e^Z]k][zWddYZcmfc\][b][xZI]XZ}W[wZgaXZ_^[][Z\WX d]]XZc[bZg]XdWYY][xZDW[[VZY`X]en`]Z]_[][ZTXmZWcYx CD_]^Y`ZbcDjZYWw`]ZY_]xZCIWZ_Y`Z[_]mW[bxDZCTk]XDjZ][`w]w[]`]ZB_nZg]X\_XX`xZCD_]Z\WX][ZbWjZ[_e^`Z\W^XxD CM_e^`ZY_]Z~Z\_XjZbWYZ_Y`Zb]XZl[`]XYe^_]bxDZC{e^Z\]_FZ[_e^`xDZSw]X[bZzc^XZB_nZY_e^ZbcXe^Zb_]ZKWWX]xZCD]^][Z\_XZfcjZbWFZ\_XZga[Z^_]XZg]XYe^\_[b][xD G D_e^Z ]_[]mZT[`_wXWgYe^We^`Z W[fcg]X`XWc][jZ \Ww`][Z Y_]Z WcYZ |cXe^`Z gaXZ R[`b]enc[wZ [_e^`xZTdd]Xb_[wYZ w]dW[wZ ]YZ DW[[VZ X]dW`_gZ Ye^[]ddjZ b][ZTczkWcZ b]X D`W`_a[ZfcZk]X]e^[][Zc[bZbWbcXe^ZWcz\?X`YZzi^X][b]ZUX]hh][Ye^?e^`]ZfcZz_[b][jZ[We^Zb][][ZY_]ZW[b]X[zWddYZ\]Y][`d_e^Zd?[w]XZ^?``][ZYce^][ZmiYY][x TcF]Xb]mZna[[`][ZY_]Z^_]XZY_e^]XZY]_[jZ\]b]XZQaka`]X[Z[ae^Zb][Z|X]mb][ZY]dkY`ZfcZk]w]w[][xZCI_]ZKW[wWXYZziXZb_]ZQWcmYe^_zz]Zd_]w][Zb_e^`Zc[`]XZb]X Lk]Xzd?e^]Z ga[Z S\_]d_e^`DjZ YWw`]Z DW[[VxZ CE_XZ Yadd`][Z c[YZ k]]_d][jZ b][[Z [We^Z R[`b]enc[wZ c[Y]X]XZ |dce^`Z \_XbZ mW[Z ][`YhX]e^][b] D_e^]X^]_`YgaXn]^Xc[w][Z`X]zz][xD C{e^ZnW[[Z[_e^`ZYe^[]dd]XDjZ?e^f`]ZB_nxZCIWYZY_[bZg_]dd]_e^`Z`WcY][bZ@]`]XjZ[_e^`Z\W^XxD Cy]Xmc`d_e^ZYawWXZ[ae^Zm]^XxZE_ddY`ZbcZb_e^Zd_]k]XZ\_]b]XZ]_[zW[w][ZdWYY][RDZI_]ZD`cz][jZ_mm]X^_[Z\WX][ZY_]ZziXZE]Y][Zw]kWc`jZb_]Zm]^XZWdYZbX]_mWdZYa wXaFZ\_]ZDW[[VZ\WX][jZ\cXb][ZfcmZnX?z`]f]^X][b][ZK_[b]X[_YxZl[bZB_nZ^W``]ZDe^\_]X_wn]_`][Zm_`ZY]_[][ZR`X]m_`?`][xZTczZA]b]mZTkYW`fZkd_]kZ]XZY`]^][ c[bZY`X]en`]ZY_e^x Sk]XZ_^[][Z]XndW[w][Z}]X?cYe^]x CD`_ddFDZXWc[`]ZDW[[Vx CEWYZxxxRD @_`Z]_[]XZfaX[_w][ZKW[bk]\]wc[wZk]b]c`]`]ZY_]Zb]mZydW^X]Y]XjZb][Z@c[bZfcZ^Wd`][xZIWZ\WXZ]YZ\_]b]XjZWdYZk]\]w]ZY_e^Z]`\WYZXWYe^]d[bZik]XZb][ @]`WddhdWY`k]dWwZb]XZD`cz][xZB_nZYW^ZDW[[VZzXWw][bZW[x CTczZA]b][Z|WddZY_[bZ]YZ\]b]XZQaka`]XZ[ae^Z\]de^]Zb]XZ|X]mb][DjZY`]dd`]ZY_]Za^[]ZfcZfw]X[Zz]Y`x CIcZwdWckY`jZ]YZn[[`]Zc[YZw]z?^Xd_e^Z\]Xb][jZ[_e^`Z\W^XRD DW[[VZfcen`]Zm_`Zb][ZDe^cd`]X[x C{e^Z\]_FZ[_e^`xZT[b]X]XY]_`YZ~Z\]XZY_e^Z_mZUX]hh][Ye^We^`Zg]Xk_Xw`jZnW[[Zn]_[Z\_Xnd_e^]XZ}]w[]XZY]_[xD IWYZQWYe^]d[ZnWmZ[?^]XxZ{mm]XZ\_]b]XZg]XY`cmm`]Z]YZziXZ]_[]ZE]_d]jZWdYZdWcYe^]ZA][]YZE]Y][jZbWYZ]YZ]Xf]cw`]jZ_[Zb_]ZbcXe^Zb_]ZMa`k]d]ce^`c[wZ[cX Yh?Xd_e^Z]X^]dd`]Z|_[Y`]X[_Yx R`\WYZJXWc[]YZYe^akZY_e^ZWcYZb]XZK^]Z^]XWkxZIi[[Zc[bZdW[wjZ`WY`]`]Z]YZYe^dW[w][wd]_e^Zik]XZb][ZJab][xZR_[Zwc`ZbX]_F_wZS][`_m]`]XZbcXe^m]YY][b]X D`WmmZzadw`]jZWcYZb]mZ_[Zwd]_e^kd]_k][b][ZTkY`?[b][Z]_[]Zy_]dfW^dZdWckk]b]en`]XZVY`]ZYhXaYY][xZIWYZm]Xn\iXb_w]Z}]Ye^hzZ\WXZc[w]z?^XZZj[\Z@]`]X wXaFxZTdYZ]YZb_]Zc[`]XY`][ZD`cz][Z]XX]_e^`Z^W``]jZkd_]kZ]YZY`]^][Zc[bZX_e^`]`]Z]_[][ZTY`jZb]XZm_`Z]_[]XZy_]dfW^dZncw]dzXm_w]XZTcY\ie^Y]Zk]b]en`Z\WXjZWcz b_]Z@adWW`_[xZIWYZmiYY][ZD]^aXwW[]ZY]_[jZbcXe^fcen`]Z]YZDW[[Vx CR_[ZJWcmDjZ?e^f`]ZB_nxZTk\]^X][bZY`X]en`]Z]XZb_]ZTXm]ZWcYjZWdYZbWYZE]Y][ZY_e^ZWczZY]_[][ZdW[w][ZEcXf]d[Z\]_`]XZWczZ_^[ZfcZYe^akx CRYZ`c`Zb_XZ[_e^`YDjZk]^Wch`]`]ZDW[[VxZCIWYZwdWck]Z_e^ZnWcmjZ[_e^`Z\W^XxDZE?X]ZbWYZcmdWcz][b]Z}]d?[b]XZ[_e^`Zw]\]Y][jZB_nZ\?X]Zg]Xmc`d_e^Z[ae^ \]_`]XZfcXienw]\_e^][Zc[bZbWk]_ZWkw]Y`iXf`xZDaZmcF`]Z]XZ_[[]^Wd`][xZI]XZ]_[f_w]Z|dce^`\]wZ\WXZb]XZ[We^ZgaX[]Z~Zw]XWb]\]wYZ_[Zb_]ZWcYw]kX]_`]`][ VY`]Z^_[]_[jZb_]ZY_e^Z_^mZ][`w]w][X]en`][x CJd]_kZm_XZkdaFZgamZQ]_kFDZYe^_mhz`]Z]XxZC{e^Zk_[ZPaXnxD CMWZc[bRDZik]XXWYe^`ZYe^i``]d`]ZB_nZY_e^xZCKWY`ZbcZbWYZ]k][Zw]YWw`RDZ\add`]Z]XZbW[[Z\_YY][x C{e^Zk_[ZPaXnDjZ\_]b]X^ad`]Zb]XZJWcmZ_[ZndWX]mjZ]_[\W[bzX]_Zg]XY`?[bd_e^][Z{[`]XnaYmax CIcZnW[[Y`Z`W`Y?e^d_e^ZYhX]e^][jZ[_e^`Z\W^XRD
C{e^Zk_[Z]_[Z][`namm][]XZ@cd`_xDZQ]Y_w[_]X][bZd_]FZB_nZY]_[]Z}d_]bmWF][Z^?[w][xZD]_[ZJd_enZf]_w`]Z[cXZfcZb]c`d_e^jZbWFZ]XZm_`Zb]mZ\W[b]d[b][ZJWcm [_e^`YZW[fczW[w][Z\cF`]xZDW[[VZ^_[w]w][ZYe^_][Zk]X]_`YZy]X`XWc][Zw]zWF`ZfcZ^Wk][x CE_]YaZYhX_e^Y`ZbcZc[Y]X]ZDhXWe^]RDZzXWw`]ZY_]x PaXnZfawZ]_[Znd]_[]YjZ\iXz]dzXm_w]YZ}]X?`Zf\_Ye^][Zb][ZVY`][Z^]XgaXZ~Z]_[][ZUXW[YdW`aXx CI_]Z}VXW[`]XDjZYWw`]Z]XjZC^Wk][Z]cX]ZDhXWe^]ZW[WdVY_]X`jZw]Yh]_e^]X`Zc[bZ_[ZA]b][ZSk]XY]`f]XZik]XYh_]d`xZIWZ_e^Z]_[ZYade^]YZ}]X?`ZW[Zm_e^ZkX_[w][ na[[`]jZz?dd`Z]YZm_XZd]_e^`jZ]ce^ZfcZg]XY`]^][xD @_`Zb]mZJ]wX_zzZC}VXW[`]XDZ\WX][Zf\]_z]ddaYZb_]Z|X]mb][Zw]m]_[`xZIWFZPaXnZY_e^ZWdYZ][`namm][][Z@cd`_Zk]f]_e^[]`]jZk]\_]YjZbWFZ]XZ]k][zWddYZgaX _^[][Zzda^x CE_]Z^WY`ZbcZc[YZw]zc[b][RZScz?dd_wRDZCIcXe^Zb][ZIcz`jZb][Zb]XZQa`^WWX_w]ZWkYa[b]X`xZRXZX_]e^`Z\_]ZU]wWYZJdi`][n[aYh][xDZCBammZm_XZ[_e^`ZfcZ[W^]Dj \]``]X`]ZB_njZWdYZb]XZ@cd`_ZWk]XmWdYZb_]ZVY`]Z[We^Z_^mZWcYY`X]en`]xZCE]XZ_Y`ZU]wWRD C@]_[]Z}]z?^X`_[Zb]XZd]`f`][ZJdi`]h]X_ab]xZTk]XDjZPaXnZY`aen`]jZCbWYZ_Y`ZdW[w]Z^]XxZy_]dZfcZdW[w]jZWdYZbWFZ_e^Zm_e^ZW[Zm]^XZ]X_[[]X[Zn[[`]xD CEa^]XZnammY`ZbcRD PaXnZ\W[b`]ZY]_[][ZD]^WY`Z\_]b]XZDW[[VZfcx Cya[Z_Xw][b\ajZ\aZIc[n]d^]_`Z^]XXYe^`]xZI_]Z}VXW[`]XZ^Wk][Zm_XZg_]dZga[Zm]_[]mZE_YY][Zw][amm][xD CEWXY`ZbcZ_^XZ}]zW[w][]XRD C{e^ZxxxDZPaXnZg]XY`cmm`]jZWdYZb]XZJab][Zc[`]XZY]_[][ZEcXf]d[ZA?^ZfcZg_kX_]X][Zk]wW[[xZCIWYZ_Y`ZTdWXmDjZ]XYe^XWnZDW[[VxZCO]`f`Znamm`Z]YZbWXWczZW[xD B_nZb]c`]`]ZWczZb][Z\_]Z]XY`WXX`Z\_Xn][b]ZJWcmx CM]^m][Z\_XZb][Zm_`RD Cy_]dd]_e^`ZnW[[Z]XZc[YZ^]dz][xZ{e^ZwdWck]jZ]XZn][[`Zb_]ZD`W`_a[Zk]YY]XZWdYZ\_XxDZTk]XZPaXnZX]Ww_]X`]Z[_e^`xZRXY`ZWdYZB_nZ_^[Zc[w]^Wd`][ZW[Y`_]FjZz_]dZb_] D`WXX]Zga[Z_^mZWkxZRXZYe^_][Zg]X\_XX`x C@W[e^mWdZwdWck]Z_e^jZbWFZm]_[]ZRX_[[]Xc[wZWddm?^d_e^ZfcXienn]^X`DjZ]XndW[wZ]YZWcYZb]mZUXW[YdW`aXxZCRXYe^i``]Xc[w][Z\_]Zb_]Y]ZbcXe^d_]z][Zm]_[] E]d`jZk]gaXZY_]ZxxxZf]XY`X`Z\cXb]xD DaZYe^[]ddZY_]Zna[[`][jZnd]``]X`][ZY_]Zb_]ZUX]hh]Z^_[WczxZS\]_ZKWch`]`Ww][ZkXWe^`][ZY_]Z_[ZniXf]Y`]XZS]_`Z^_[`]XZY_e^jZk]gaXZ\]_`Zik]XZ_^[][ZwX]dd]YZQ_e^` WczzdWmm`]x CI_]Z}VXW[`]XZYce^][Z[We^Zc[YjZ[_e^`Z\W^XRD CK_]XZY_`f][Z\_XZ_[Zb]XZ|Wdd]DjZ[_en`]ZDW[[VxZCE_XZmiYY][Zc[YZfcm_[b]Y`ZgaXik]Xw]^][bZ]_[ZW[b]X]YZy]XY`]enZYce^][xDZCK_dz`Zb_XZbWYZ\]_`]XRDZPaXn kXWe^`]Zf\_Ye^][ZY]_[][ZVY`][Z]_[][Z^W[bd_e^][ZBamk_Y`XW^d]XZ^]XgaXZc[bZX]_e^`]Z_^[ZDW[[Vx G I_]ZR`Ww]jZWczZb]XZb_]ZbX]_Zb][ZUX]hh][Ye^We^`Zg]Xd_]F][jZYe^_][Zga[Zc[`]Xw]aXb[]`]XZJ]b]c`c[wZfcZY]_[Zc[bZb_][`]Z\a^dZb]XZQWw]Xc[wZga[ZRXYW`f`]_d][ c[bZg]XYe^_]b][][Z}]X?`Ye^Wz`][jZ\_]Zb_]ZY]dkY`Z_[Zb][Z}?[w][Zw]Y`Wh]d`][ZHa[`W_[]XZ]Xn][[][Zd_]F][xZRYZwWkZwXaF]jZw]X?cm_w]ZKWdd][jZb_]Zga[ZdW[w][ Q]wWdX]_^][Z bcXe^faw][Z \cXb][xZ y]Xmc`d_e^Z ^?``]Z mW[Z Y_e^Z ^_]XZ ziXZ d?[w]X]Z S]_`Z g]Xk]Xw][Z n[[][jZ \?X][Z [_e^`Z b_]Z m_`Z b]mZ y]X`]_d][Z ga[Z }i`]X[ k]Ye^?z`_w`][Z Qaka`]XZ w]\]Y][xZ O]b][ZTcw][kd_enZ X]e^[]`]Z DW[[VZ bWm_`jZ bWFZ b_]Z ncw]dzXm_w][Z @WYe^_[][Z Y_]Z ][`b]en`][xZ I][Z D`XW^d]XZ ^_]d`Z Y_] ][`Y_e^]X`Z_[Zb]XZQ]e^`][x D_]Zmae^`][Z]`\WZ]_[][ZB_dam]`]XZfcXienw]d]w`Z^Wk][jZWdYZb]XZBaXX_baXZgaXZ]_[]mZm?e^`_w][ZUaXZ][b]`]x CE_XZmiYY][ZbWZ^_[]_[jZ[_e^`Z\W^XDjZY`]dd`]ZB_nZc[cm\c[b][Zz]Y`x R^]ZDW[[VZab]XZPaXnZW[`\aX`][Zna[[`][jZwd_``][Zk]_b]ZUaX^?dz`][ZgaXZ_^[][ZfcXZD]_`]xZD_]Z^W``][Zb][ZR_[bXcenjZ_[Z]_[]ZW[b]X]ZE]d`ZfcZw]dW[w][xZR_[ ma[a`a[]YZ Dcmm][Z dWwZ _[Z b]XZ Qcz`xZ RYZ w_[wZ ga[Z b][Z @WYe^_[][kden][Z WcYjZ b_]Z fcmZ U]_dZ b_]Z }XF]Z ]_[]XZ DhWe]PO]`Z ]XX]_e^`][jZ c[bZ ga[Z b][][ T[`][[][ki[b]dZ \_]Z b_]Z D`We^]d[Z ]_[]YZ {w]dYZ [We^Z Wdd][Z D]_`][Z XWw`][xZ K_[Z c[bZ \_]b]XZ ^cYe^`][Z wd_`f]X[b]Z R[`dWbc[w][Z ga[Z ]_[]mZ TwwX]wW`Z fcm W[b]X][xZI_]YZWdd]YZ\_Xn`]ZYaZzX]mbWX`_wjZWdYZY]_Z]YZ]_[]mZk_fWXX][ZTdh`XWcmZ][`YhXc[w][x CIWYZ _Y`Z c[^]_md_e^DjZ k]^Wch`]`]Z B_nxZ C{e^Z w]^]Z [_e^`Z ]_[][Z ]_[f_w][Z De^X_``Z \]_`]XxDZ CE_ddY`Z bcZ Wdd]_[Z fcXienkd]_k][RDZ RXZ mcF`]Z Y_e^Z ziw][xZTk]X [_]mW[bZ na[[`]Z _^[Z bWXW[Z ^_[b]X[jZ Y_e^Z \_[f_wZ c[bZ c[k]b]c`][bZ fcZ zi^d][jZ \][[Z ]XZ fcZ b][Z Ye^Xazz][Z @WYe^_[][kden][Z Wczkd_en`]jZ b_]Z A]b]XZ ga[ Yh_XWdzXm_w][ZBi^dXa^X][ZcmdWcz][Z\cXb][xZlXhd`fd_e^ZY`_]FZDW[[VZ_^[ZfcXZD]_`]xZB_nZ`Wcm]d`]jZa^[]ZfcZg]XY`]^][jZ\WYZw]Ye^W^jZ]XZYhiX`]Z[cXZ]_[]ZEaw] ga[ZK_`f]Zik]XZY_e^ZfcYWmm][Ye^dWw][xZR_[ZwX]dd]XZJd_`fZkd][b]`]Z_^[x R_[ZQaka`]XZ^W``]ZbWYZ|]c]XZ]Xzz[]`xZEaZB_nZ]k][Z[ae^Zw]Y`W[b][Z^W``]jZwdi^`]Zb]XZJab][x I_]Z@adWW`_[ZYe^aFZfcXienxZRYZnaY`]`]ZY_]Z@i^]jZ_^XZS_``]X[ZfcZc[`]XbXien][jZc[bZY_]Z^_]d`Z_^X]Z|_[w]XZ[ae^ZcmZb][Z|]c]Xn[ahzZb]XZEWzz]Zg]XnXWmhz`jZWdY b]XZT[wX]_z]XZYe^a[Z_[Z]_[]XZbcmhz][ZI]`a[W`_a[Zg]XwW[w][Z\WXxZR[bd_e^Zd_]FZY_]Zb][ZD`XW^d]XZY_[n][xZD_]Zg]Xm_]bZ]YjZ_^X]ZJ]wd]_`]XZW[fcY]^][xZCE][[ b]XZQaka`]XZS]_`Z^W``]jZ]_[]ZMWe^X_e^`ZWkfcY]`f][jZ\]Xb][Zb_]Z}VXW[`]XZc[YZkWdbZWczYhiX][xD CE_ddY`ZbcZWczw]k][RDZzXWw`]ZPaXnxZD_]ZYW^Zb][Z@cd`_Zik]XXWYe^`ZW[x
C{e^ZwdWck]jZbWYZ^Wk]Z_e^Z[_]Zw]`W[DjZzc^XZ]XZzaX`xZCl[bZbcZna[[`]Y`Z_mm]X^_[Z]_[][Znd]_[][ZD_]wZ]XX_[w][NZ_e^ZmcF`]Z_mm]XZ[cXZM_]b]XdWw][Z^_[[]^m][xD D_]Z ^WY`]`][Z \]_`]XjZ kd_[bd_[wYjZ a^[]Z fcZ \_YY][jZ \a^_[xZ CI_]Y]Z @WYe^_[][DjZ YWw`]Z DW[[VZ _mZ QWcz][jZ CY_[bZ \_e^`_wxZ {e^Z g]Xmc`]jZ bWFZ Y_]Z b][Z MWk]d Y`Wk_d_Y_]X][xZI]XZw]YWm`]ZBamhd]Z_Y`ZYaZWcYw]b]^[`jZbWFZYawWXZb_]Z}VXW[`]XZk]Y`_mm`Zf]^[Z@_[c`][Zk][`_w][jZcmZga[Z]_[]mZR[b]ZfcmZW[b]X][Zfc w]dW[w][xD CIcZm]_[Y`jZbWFZY_]Zc[YZb]Y^WdkZ[ae^Z[_e^`Z][`b]en`Z^Wk][jZ[_e^`Z\W^XxD Cl[Y_[[xDZ DW[[VZ \_[n`]Z Ye^XazzZ WkxZ C{e^Z m]_[]jZ bWFZ ]YZ ^_]XZ UXW[Ym_``]XZ w]k][Z mcFjZ b_]Z ]YZ b]mZ EWX`c[wYh]XYa[WdZ _mZ Ma`zWddZ ]XdWck][jZ _[ D]nc[b][Ye^[]dd]Zga[Z]_[]mZLX`ZfcmZW[b]X][ZfcZw]dW[w][xD B_nZYe^\_]wxZTce^ZWdYZDW[[VZc[g]Xm_``]d`ZY`]^][kd_]kZc[bZY_e^ZcmYW^jZYWw`]Z]XZn]_[ZEaX`x CE_XZ miYY][Z baX`Z ^_[ik]XFDZ I_]Z @adWW`_[Z b]c`]`]Z [We^Z d_[nYjZ \aZ f\]_ZTwwX]wW`kden]Z _[Z b_]Z K^]Z h_dfzXm_wZ WcYw]k_db]`Z \WX][Z c[bZ ]_[W[b]XZ zWY` k]Xi^X`][xZCI]mZTcYY]^][Z[We^Zw_k`Z]YZbX]_ZBW`]waX_][Zga[Z@WYe^_[][jZga[Zb][][Zb_]ZwXF`][Zg]Xmc`d_e^ZWce^Zb_]Z\_e^`_wY`][ZTczwWk][ZfcZ]Xzidd][ ^Wk][xZRYZ\?X]Z[cXZdaw_Ye^jZb_]ZUXW[Ym_``]XZ[W^]Zb][ZBX]cfc[wYhc[n`][Zb]XZy]Xk_[bc[wYw?[w]ZW[fcaXb[][xD E][_wZYh?`]XZzW[b][ZY_]Z]_[Z`aXkaw][zXm_w]YZ}]k_db]jZbWYZWcYZ[_e^`YZW[b]X]mZk]Y`W[bZWdYZf\]_Zwd?[f][b][Z@]`WddY?cd][xZB_nZ[_en`]ZW[]Xn][[][bx IW[[Zg]XYe^X?[n`]Z]XZzXWw][bZb_]ZTXm]Z_[]_[W[b]Xx CE][[Z\_XZ^_[bcXe^w]^][jZ\_YY][Z\_XZ[ae^ZdW[w]Z[_e^`jZ\aZ\_XZ^]XWcYnamm][jZ[_e^`Z\W^XxD DW[[VZkd_en`]ZY_e^ZYce^][bZcmxZCIaX`ZbXik][jZbWYZYadd`][Zb_]ZBa[`Xadd][ZY]_[xZRwWdjZ\WYZw]Ye^_]^`jZYakWdbZ_e^Zb_]Z]XzaXb]Xd_e^][ZDe^Wd`c[w][ZWcYw]zi^X` ^Wk]jZw]^`ZbcXe^Zb][ZJaw][xD CM]_[DjZ]X\_b]X`]ZB_nZ^]z`_wxZCR[`\]b]XZbcZnammY`Zm_`Zc[YjZab]XZ\_XZ\WX`][xDZMae^Zna[[`]ZmW[Zf\_Ye^][Zb][ZUXW[Ym_``]XY?cd][Z^_[bcXe^Zb_]Y][ZU]_dZb]X KWdd]Zik]Xkd_en][xZ@_[c`][ZYh?`]XZ][`Y`W[bZA]bae^Z]_[Z|d_mm]X[jZbWYZA]b]ZD_e^`Zg]XYh]XX`]xZDW[[VZ^WY`]`]Z^]XW[x CDe^[]ddFDZ X_]zZ Y_]xZ C{e^Z ^Wk]Z b_]Z R[]Xw_]fczc^XZ YaZ w]Ye^Wd`]`jZ bWFZ _[Z Yh?`]Y`][YZ ]_[]XZ ^Wdk][Z @_[c`]Z b_]Z w]YWm`]Z BaaXb_[W`][hXawXWmm_]Xc[w fcYWmm][kX_e^`xD }]m]_[YWmZ\cXb][ZY_]Z][`Y`azzd_e^`Zc[bZWdYZ^ae^zX]Uc][`]XZ{mhcdYZWkw]Y`XW^d`x
56 WXYXZ[ \]^_`X[ ab^_[ YXZ[ XZc]Z`X`X[ d^_\XZe[ XbfXa[ gZ]fa\b``XZahZifja[ klXZ[ jZmnXZX[ of`pXZfifjXf[ _bfcXj[ lX\XZql]Zr[ fs^_[ tXZufYXZ`X[ ab^_[ b_ZX a\jXlifjb cdbnjek^q`fr[a`Xee`X[gbq[pXa`b[chb^_`[c]_Zb[W]a[\]^_Xf[cbZ[fifif jf[YXZ[kXZfX[eXb^_fX`X[ab^_[XbfX[pek^_`bjX[lXcXjifj[ecba^_Xf[YXf[mjjZXj]`Xf[]lb[ni[cXb`[cXjr[i\[XZqXffXf[ei[e]aaXfr[sl[Xa[ab^_[i\[osls`XZ[sYXZ pqZ]f`XZ[_]fYXe`Xb[cWbZ[abfY[fb^_`[\X_Z[]ip[ncbXeb^_`fr[lX_]ih`X`X[d]ffqb rsZq[a`b\\`X[b_Z[eis[ctbX[mfe]jX[u_fXe`[ec]Z[YXZ[]fYXZXfr[]lXZ[]eeXa[ba`[tbXe[jXc]e`bjXZbf cti[cXbn`r[cs[cbZ[abfYr[fb^_`[c]_Zif[c]fY`X[gbq[ab^_[]f[YbX[dse]]`bfb d]ffq[a^_k``Xe`X[YXf[gshpb[cj^_[q]ff[fiZ[XZqXffXfr[Y]n[YbXa[XlXfp]eea[YbX[`X^_fba^_X[gs\hsfXf`X[XbfXa[h]lXea[aXbf[\inb[ul[cbZ[ifa[cbXYXZi\[b\ jffXZf[XbfXa[ re]fX`Xf[ lXpbfYXfr[eun`[ab^_[fb^_`[a]jXfbf[tbX[d]a^_bfXf[ifY[mf`XffXfaqa`X\Xr[YbX[]ip[ncbXeb^_`[lba[ei[YZXbnbj[dX`XZ[ _s^_[ ]ipZ]j`Xfr \]nXf[ _bXZ[ ji`[ Y]a[ tZXbp]^_Xb[ tbX[ v]eeX[ aXela`[ c]Z[ ifklXZa^_]il]Z[ bf[ b_ZXf[ tb\XfabsfXfw[ YbX[ tX^qX[ lebXl[ _bf`XZ[ c]lXZfYXf[ ofXZjbXXf`e]YifjXf tXZlsZjXfb cj^_[ahkZX[X`c]afr[peka`XZ`X[rsZqb[cafY[ec]Z[XZa`r[aXb`[cbZ[YiZ^_[YXf[gZ]fa\b``XZ[jXqs\\Xf[abfYb[mea[qmff`X[b^_[d`b\\Xf[_mZXf[bbbf cxXZa`X_a`[Yir[c]a[abX[a]jXfif chXbfb[d]f^_\]er[a^_Xbf`[Xar[abfY[abX[ifXfYeb^_[cXb`[cXjr[Y]ff[cbXYXZ[j]fe[f]_Xr[p]a`[asr[]ea[a`kfYX[yX\]fY[fXlXf[\bZbf[pXZ]YX[fs^_[ZX^_`eXb`bj[esj d]ffq[b_ZX[lXbYXf[lXjeXb`XZ[bf[YbX[tX^qifj[XbfXa[YXZ[\u^_`bjXf[mjjZXj]`Xb[jf[XbfXZ[aXb`eb^_Xf[hba^_Xr[YiZ^_[YbX[\]f[tXZ\i`eb^_[bfa[jffXZX[jXe]fjXf qsff`Xr[p]fYXf[abX[]iaZXb^_XfY[re]`eb osls`XZ[fu_XZ`Xf[ab^_[b_ZX\[xXZa`X^qb[dbX[jX_mZ`Xf[fb^_`[YX\[qijXepmZ\bjXf[gqh[]fr[asfYXZf[lXcXj`Xf[ab^_[]ip[ecXb[lXbfXfb[dX_ZXZX[pqZ]f`XZ[c]ZXf lXb[b_fXfb t]\b`[ciZYX[XfYjke`bj[qe]Zr[Y]n[Xa[ab^_[i\[Xbf[vbepatseq[tsf[mf`bzod[_]fYXe`Xr[Y]a[tXZ\i`eb^_[au\`eb^_X[h]lXea`]`bsfXf[lXaX`e`[_bXe`b[d]ffq[pZ]j`X[ab^_ ifcbeeqkZeb^_r[sl[YbX[ei\bfYXa`[uinXZeb^_X[O_feb^_qXb`[\b`[YXf[dse]fXZf[cbZqeb^_[eipueebj[c]Zr[sYXZ[sl[\X_Z[Y]_bf`XZa`X^q`Xr[]ea[abX[yX`e`[fs^_[tXZ\i`Xf qsff`Xb[j\\XZ_bf[c]Z[mf`bzod[Xbf[XZfa`eifX_\XfYXZ[pXjfXZr[YXZ[asj]Z[aXbfX[xXZl]ffifj[bf[YbX[h]\XfesaX[nsfX[jXa^_b^q`[ei[klXZahbXeXf[cin`Xb WXfbjX[dX`XZ[Xf`pXZf`[tXZ_bXe`Xf[YbX[osls`XZb[d]ffq[XZa^_Z]qr[]ea[b_ZX[PbfaXfaqa`X\X[e]fja]\[ei[Zs`bXZXf[lXj]ffXfb[oZpsej`Xf[b_ZX[W]_ZfX_\ifjXf[b\ jfpZ]Zs`lXZXb^_i[ obfXZ[ YXZ[ pqZ]f`XZ[ a]j`X[ X`c]a[ bf[ aXbfXZ[ pZX\Y]Z`bj[ qebfjXfYXfr[ iftXZa`ufYeb^_Xf[ dhZ]^_Xr[ csZ]ip_bf[ ]eeX[ bf[ XbfX[ ]fYXZX[ ob^_`ifj cXb`XZjbfjXfb ct]a[c]Z[qf]hhr[fb^_`[c]_Zfr[aXipe`X[gbqb[cj^_[Y]^_`X[a^_sfr[abX[_]lXf[ifab[vXr[c]a[ba`[\b`[rsZq[esaif tXZ[die`b[a`]fY[XZfXi`[ZXjifjaesa[Y]r[fiZ[aXbf[dX_]a`[eb``XZ`X[eXb^_`b[mea[gbq[a]fp`[XbfXf[aXbfXZ[Oa`X[lXZk_Z`Xr[Zsee`Xf[YbX[leu``XZ[ab^_[a^_e]j]Z`bj[Xbfb cvsppXf`eb^_[cbZY[XZ[fb^_`[cXeqr[fb^_`[c]_Zbf tbX[lX\XZqifj[asee`X[cs_e[YbX[YXi`eb^_X[mfah]ffifj[emaXfr[Ys^_[d]ffq[p]fY[abX[lXb\[lXa`Xf[WbeeXf[fb^_`[qs\ba^_b[dbX[c]Zp[gbq[XbfXf[tXZcXbaXfYXf leb^q[eib rsZq[c]Z[ei[pZX\Y]Z`bjb[dXela`[YbX[dse]]`bf[qsff`X[fiZ[]ffX_\Xfr[Y]n[aXbf[nia`]fY[\b`[YXf[aXe`a]\Xf[d`b\\Xf[ei[`if[_]``Xr[tsf[YXfXf[XZ[jXahZs^_Xf _]``Xb[t][cXYXZ[YXZ[xe]_ZXaXZ[fs^_[abX[aXela`[X`c]a[_mZ`Xfr[a^_bXf[Xa[ab^_[i\[XbfX[W]_ZfX_\ifj[b\[\Xf`]eXf[lXZXb^_[ei[_]fYXefb ofYeb^_[c]^_`X[YXZ[die`b[]ia[aXbfXZ[d`]ZZX[]ipb[W]a[XZ[a]j`Xr[lXa`u`bj`X[d]ffqa[xXZ\i`ifjXfb cj^_[ahkZX[abX[YXi`eb^_XZb[jZjXfYcs[bf[YbXaXZ[ZbXabjXf[mfe]jX[cXZYXf[ecXb[WXaXf[jXp]fjXfjX_]e`Xfb[dbX[_]lXf[YbX[vsppfifjr[XbfXa[g]jXa[lXpZXb`[ei cXZYXfr[a^_sf[p]a`[]ipjXjXlXfbf ct]ff[abfY[abX[pXjfXZ[YXZ[pqZ]f`XZ[bbbf[cdbX[a^_XbfXf[]i^_[aXela`[tXZpXbfYX`[ei[aXbfb[dscXb`[b^_[XZqXffXf[q]ffr[ZbfjXf[abX[\b`Xbf]fYXZ[ifY[tXZai^_Xfr yXYXZ[pkZ[ab^_r[YbX[ulXZ_]fY[ei[jXcbffXfb[ni\bfYXa`[XbfXZ[tsf[b_fXf[cbee[fb^_`[qu\hpXfr[]lXZ[abX[cXZYXf[Y]ei[jXecifjXfbf cxsf[mf`bzodif[Xf`pi_Z[Xa[gbqb cQ]r[b^_[je]ilXb[QXYXZ[_ue`[YXf[]fYXZXf[pkZ[XbfXf[vXepXZ[tsf[mf`bzodr[]lXZ[cbZqeb^_[abXjXf[q]ff[qXbfXZbf d]ffq[c]Z[le]n[jXcsZYXfb cW]a[ Yi[ a]ja`r[ ahbXjXe`[ _]]ZjXf]i[ YbX[ db`i]`bsf[ bf[ l]ZazRzl]Za[ cbYXZr[ YXZXf[ xmeqXZ[ ab^_[ aXb`[ Q]_Z_ifYXZ`Xf[ b\[ gZbXj[ lXpbfYXfb[ ni\bfYXa`[ lba[ tsZ qiZeX\[je]il`X[yXYX[dXb`Xr[bf[YX\[]fYXZXf[YXf[mjjZXaasZ[ei[aX_Xfbf cWbX[asee`Xf[ecXb[obfeXecXaXf[YXZ]Z`[obfpein[]ip[YbX[pXa^_b^qX[XbfXZ[p]e]Sba[fX_\Xf[bbbif cWXff[\XbfX[xXZ\i`ifj[ei`Zbpp`r[_]fYXe`[Xa[ab^_[fb^_`[i\[pXa^_mhpX[cbX[Yb^_[sYXZ[\b^_[sYXZ[YbX[pqZ]f`XZb[t]ff[ba`[YbX[lXeXb^_fifj[WXaXf_Xb`[]\ X_Xa`Xf[ei[]qeXh`bXZXfb[gq]Z[ifY[rZXee]Z[abfY[j]e]SbXfi\ah]ffXfYX[jf`XeebjXfeXfbf cj^_[tXZa`X_X[fb^_`r[c]a[Yi[\Xbfa`fr[a]j`X[rsZqb coa[ba`[]i^_[a^_cXZ[ei[tXZa`X_Xfb[tbX[xmeqXZ[tsf[l]ZazRzl]Za[je]ilXfr[Y]n[b_ZX[pm``XZ[sYXZ[lXa^_k`eXZ[`s`[abfYr[aXb`[tsZ[e]fjXZ[nXb`[YbX[d`XZfXfbfaXef
qseebYbXZ`Xfb tbX[xXZe]_fifj[tsf[l]Za[ifY[k]Zqf`[ba`[jeXb^_lXYXi`XfY[\b`[YXZ[a\a^_ebfjifj[tsf[gq]Z[ifY[rZXee]Zr[]ia[YXZ[qXbfXZ[ab^_[emaXf[q]ffb[tXff[tsZ[]eeX\ Y]YiZ^_[cXZYXf[YbX[h]lXe[XZ_]e`Xfr[YbX[TlXZjufjX[tsf[ifaXZX\[o]i\[eiZ[h]\XfesaXf[nsfXbf cTlXZjufjXif cWbX[b\\XZ[abX[jX]Z`X`[aXbf[\mjXffr[a]j`X[d]ffqb PXbaX[Z]a^_XefY[ZbXl[rsZq[aXbfX[Oa`X[]fXbf]fYXZb[cj^_[Xf`abffX[\b^_[Yi\hpr[Y]n[b^_[tsf[\XbfXZ[WXe`[Xf`pk_Z`[ciZYXr[bf[XbfX[a\jXlifjr[YbX[jufeeb^_ ]fYXZa[c]Zb[j^_[q]ff`X[qXbfX[d`XZfXr[]lXZ[b^_[cXbnr[Y]n[Xa[bf[\XbfX\[xseq[UP]ia^_XZV[j]lr[YbX[lXlXf[bf[YXZ[afXfYeb^_qXb`[tsZ]iaa]j`Xfbf ct]ff[ba`[YbX[h]\XfesaX[nsfX[YXbfX[vXb\]`r[fb^_`[c]_Zfr[psejXZ`X[gbqb[jfecba^_Xf[_]``X[XZ[ab^_[Y]Z]f[jXcm_f`r[Y]n[YXZ[die`b[aXbfX[hu_X[ai^_`X[ifY[_bf ifY[cbXYXZ[\b`[XbfX\[pZXbp]a`[lXbf]_X[euZ`eb^_[klXZ[aXbfXf[gmZhXZ[a`Zb^_b[WXff[XZ[ab^_[fb^_`[`uia^_`Xr[Xf`cb^qXe`X[rsZq[asj]Z[qeXbfX[lek`XfqfsahXfb cv]lXf[YbX[P]ia^_XZ[YbX[mffu_XZifj[tsf[l]Za[ifY[k]Zqf`[c]_ZjXfs\\Xfif[pZ]j`X[d]ffqb[cWXff[Yi[gq]Za[ifY[rZXee]Za[mfcXaXf_Xb`[ahkZa`r[lXab`e`[Yi tbXeeXb^_`[XlXfp]eea[ase^_X[ku_bjqXb`Xfbf tXZ[die`b[a^_cbXjb[W]_Za^_Xbfeb^_[ai^_`X[XZ[bf[aXbfXZ[tXZa^_k``X`Xf[oZbffXZifj[f]^_[Xf`ahZX^_XfYXf[vbfcXbaXfb W rsZq[lXa]n[qXbfX[dmjeb^_qXb`r[_XZ]iaeipbfYXfr[cs[YbX[jf`XeebjXfe[tsf[l]Za[ifY[YXZ[jfa`bfq`[tsf[k]Zqf`[pXa`jX_]e`Xf[ciZYXfb[t]ei[c]ZXf[YbX[mia\]nX[YXZ d`]`bsf[ei[ZbXabjb[oZ[ahkZ`X[fiZ[b_ZX[mfcXaXf_Xb`[X[ifY[YbX[pXjXfc]Z`[tsf[XbfX\[cXb`XZXf[WXaXfr[Y]a[a^_Xbfl]Z[_bepesa[i\_XZbZZ`Xb coa[jX_mZ`[ei[rZXee]Zfr[lX_]ih`X`X[XZb[cxsf[kiZ^_`[ifY[afab^_XZ_Xb`[jX`ZbXlXfr[ba`[Xa[]ip[YX\[WXjr[ab^_[aXela`[ei[tXZtseeqs\\fXfbf dbX[_]``Xf[d`ifYXf[jXlZ]i^_`r[i\[YbX[v]eeX[ei[tXZe]aaXfr[c]ZXf[YXZ[pXp]_Z[YXa[of`YX^q`cXZYXfa[\X_Z\]ea[fiZ[qf]hh[Xf`ZsffXfr[_]``Xf[Xa[a^_ebXneb^_ ]lXZ[ Ys^_[ jXa^_]pp`b[ j\[ pXjXfa]`e[ eiZ[ d`]`bsf[ ]ip[ ncbXeb^_`[ a`bXnXf[ abX[ b\\XZ[ cbXYXZ[ ]ip[ pqZ]f`XZb[ kkZ[ d]ffq[ jXc]ff[ ]eeXa[ Y]YiZ^_[ fs^_[ \X_Z[ ]f lXYXi`ifjb[ oa[ c]Z[ fb^_`[ a^_cXZ[ ei[ lXZX^_fXfr[ Y]n[ \]f[ ab^_[ \b`[ _s_XZ[ W]_Za^_Xbfeb^_qXb`[ f]_X[ YXZ[ cb^_`bja`Xf[ ]eeXZ[ xXZlbfYifjaa`XeeXfr[ YX\ v]ih`f]lXer[lXp]fYb j_ZX[vsppfifjXfr[]inXZ_]el[YXZ[d]a^_bfXf_]eeX[bf[cXfbjXZ[lXeXl`X[dXq`bsfXf[ei[jXe]fjXfr[XZpkee`Xf[ab^_[ei\bfYXa`[tsZXZa`[fb^_`b[d]f^_\]e[a]j`X[rsZqr Y]n[XZ[YbX[cd`b\\Xff[tsf[gq]Z[ifY[rZXee]Z[fif[YXi`eb^_XZ[tXZfX_\Xf[qmffXr[Ys^_[ebXn[ab^_[qXbfX[Xbf_Xb`eb^_X[ob^_`ifj[pXa`a`XeeXfb TlXZ[XfYesaX[ gsZZbYsZX[ ifY[ lZXb`X[o]\hXf[YZ]fjXf[abX[`bXpXZ[bf[YbX[d`]`bsf[Xbfb[mip[yXYXZ[olXfX[j]l[Xa[vifYXZ`X[tsf[qeXbfXf[g]lbfXfr[ bf[YbX[ YbX pqZ]f`XZ[ab^_[cu_ZXfY[b_ZXZ[oi_XhXZbsYXf[eiZk^qebX_Xf[qsff`Xfb[afY[Y]ecba^_Xf[b\\XZ[cbXYXZ[oui\X[tseejXa`shp`[\b`[pZX\Y]Z`bjXZ[gX^_fbq[ifY[tsf osls`XZf[jXc]Z`X`r[YbX[tsf[YXf[YZXb[ifjXlX`XfXf[obfYZbfjebfjXf[qXbfXZeXb[hs`be[f]_\Xfb[oa[c]ZXf[Xbfp]^_X[mZlXb`a\]a^_bfXfr[YXZXf[rZsjZ]\\[ab^_[bf YXZ[oZeXYbjifj[]fp]eeXfYXZ[osi`bfX]ZlXb`Xf[XZa^_mhp`X[X[lba[ei[YX\[mijXfleb^qr[bf[YX\[gbq[if]^_`a]\[XbfX[XeXq`Zsfba^_X[dhXZZX[h]aabXZ`Xb[mia[YXf xXZufYXZifjXf[XZq]ff`X[d]ffq[ei\[pek^q[ZX^_`eXb`bjr[Y]n[pkZ[abX[if]fjXfX_\X[tbfjX[jXa^_]_Xfb[W]_Za^_Xbfeb^_[jbfj[Xa[i\[dXqifYXfb ctsZ`r[bf[YXf[Pkp`ifjaa^_]^_`Yf[t]a[Vi]YZ]`ba^_X[pb``XZ[if\b``Xel]Z[klXZ[YX\[lsYXf[ebXn[ab^_[eXb^_`[]l_XlXfb[vbf`XZ[rsZq[ifY[d]ffq[a^_ekhp`X[gbq[bf YXf[je]``c]fYbjXfr[c]]jZX^_`[tXZe]ipXfYXf[d^_]^_`[ifY[esj[Y]a[pb``XZ[tsf[bffXf[_XZ[cbXYXZ[eib[gXbfXf[mijXfleb^q[ei[pZk_r[YXff[a^_sf[lX`Z]`Xf[pqZ]f`XZ YXf[o]i\b cWbZ[\kaaXf[cXb`XZfr[cbahXZ`X[d]ffqb[cWXff[cbZ[_bXZ[leXblXfr[cXZYXf[abX[ifa[pZk_XZ[sYXZ[ahu`XZ[]ipahkZXfbf P]fja]\[ qZs^_Xf[ abX[ tsZcuZ`ab[ lXjeXb`X`X[ abX[ ]fp]fja[ fs^_[ Xbf[ p]_eXZ[ Pb^_`a^_b\\XZr[ as[ ciZYX[ YbX[ kbfa`XZfba[ ]ee\u_eb^_[ ifYiZ^_YZbfjeb^_b[mea[ ab^_ _XZ]iaa`Xee`Xr[Y]n[rsZq[bf[YXZ[]lasei`Xf[tifqXe_Xb`[XlXfasji`[a]_[cbX[b\[Pb^_`[jZXeeXZ[d^_XbfcXZpXZr[lXa`uZq`X[Y]a[d]ffqa[xXZY]^_`r[YXZ[die`b[a`]\\X ]ia[YXZ[h]\XfesaXf[nsfXb[db`[jZsnXZ[W]_Za^_Xbfeb^_qXb`[c]Z[aXbfX[vXb\]`[XbfX[tifqXecXe`b[dX_Z\]ea[tXZecXbj`X[ab^_[YXZ[d^_]^_`r[]lXZ[rsZq[lX_bXe` YbX[Xbf\]e[XbfjXa^_e]jXfX[ob^_`ifj[iflXbZZ`[lXbb[oZ[lX_]ih`X`Xr[cbXYXZ[YbX[cd`b\\Xff[ei[_mZXfr[ifY[b_Z[miaj]fjahifq`[\in`X[bf[YXZ[hu_X[aXbfb aftXZ\b``Xe`[tXZebXp[YXZ[Pkp`ifjaa^_]^_`[a`Xbe[]lcuZ`ab[dXbf[tiZ^_\XaaXZ[cXb`X`X[ab^_[X`c]ar[]lXZ[gbq[ifY[YXZ[die`b[qsff`Xf[fs^_[XbfbjXZ\]nXf[ab^_XZ[bf YbX[gbXpX[qeX``XZfr[bfYX\[abX[ab^_[]f[YXf[WufYXf[]la`k`e`Xfb[cj^_[cXZYX[Yb^_[`Z]jXfr[d]ffqr[fb^_`[c]_Zfr[ls`[YXZ[xe]_ZXaXZ[]fb dbX[lXp]fYXf[ab^_[_m^_a`Xfa[fs^_[YZXb[dX`XZ[klXZ[YX\[ofYX[YXa[d^_]^_`Xar[]ea[a^_e]j]Z`bj[Xbf[_Xp`bjXZ[Pip`eij[XbfaX`e`Xb[gbq[tXZesZ[]ea[XZa`XZ[YXf[v]e`r hZ]ee`X[]ip[YXf[die`b[ifY[Zbn[b_f[\b`[ab^_b[hiZ[Xbf[Xfj\]a^_bjXa[pb``XZ[tXZ_bfYXZ`Xr[Y]n[abX[tsf[YXf[d^_]ipXef[XbfXZ[giZlbfX[XZp]n`[ifY[eXZ\]e\`[ciZYXfb nX_f[dbfi`Xf[_bXe`[YXZ[qkfa`eb^_[XZeXij`X[d`iZ\[]fr[Y]ff[c]Z[]eeXa[cbXYXZ[Zi_bj[cbX[eitsZb[oa[j]l[qXbfXf[miacXjb[WXZ[YXf[d^_]^_`[tXZe]aaXf[csee`Xr \in`X[Xf`cXYXZ[eiZk^q[sYXZ[tXZai^_Xfr[klXZ[YbX[giZlbfX[bfa[kZXbX[ei[jXe]fjXfb d]ffq[a`Xee`X[b_ZXf[d`Z]_eXZ[]ip[\bfb\]ea`X[ofXZjbX]lj]lXb[db`[YX\[q]i\[pbfjXZYb^qXf[d`Z]_e[lXj]ff[abXr[Y]a[pb``XZ[ei[lX]ZlXb`Xfb[oa[lX]fahZi^_`X[tbXe nXb`r[]lXZ[Y]a[d]`XZb]e[lXj]ff[]f[YbXaXZ[d`XeeX[`]`au^_eb^_[ei[a^_\XeeXfb[mea[d]ffq[f]^_[XbfXZ[WXbeX[]ipa]_r[ei^q`X[abX[ZXjXeZX^_`[eia]\\Xfb[j\[p]_eXf WbYXZa^_Xbf[ YXZ[ W]ppX[ a]_[ abX[ ab^_[ iftXZ\b``Xe`[ XbfX\[ ecXb`Xf[ die`b[ jXjXfklXZb[meeXZYbfja[ c]Z[ YbXaXZ[ q]i\[ Xbf[ xbXZ`Xe[ as[ jZsn[ cbX[ rsZqr[ YXZ[ a`see tXZqkfYX`Xr[Y]n[Xa[ab^_[i\[aXbfXf[mleXjXZ[_]fYXe`Xb cjffXZ_]el[ cXfbjXZ[ g]jX[ qmff`X[ XZ[ \bZ[ ei\[ xXZcX^_aXef[ u_feb^_[ aXbf[ ifY[ Y]ZklXZ[ _bf]ia[ \Xbf[ j]feXa[ WbaaXf[ lXab`eXfbf[ tXZ[ dse]]`bf[ Xf`jbfj[ YbX aXe`a]\X[lX`sfifj[fb^_`b cj^_[_]lX[\b^_[Xf`a^_esaaXfr[YXf[mleXjXZ[ei[shpXZffr[XZqeuZ`X[rsZqb[ctbX[pqZ]f`XZ[lZ]i^_Xf[XbfXf[pXp]fjXfXfr[asfa`[cXZYXf[abX[fb^_`[]ip_mZXfr[f]^_ ifa[ei[ai^_Xfb[mip[YbXaXelX[WXbaX[jXe]fj[Xa[\bZr[]iaeilZX^_Xf[ifY[YXf[TlXZaX`eXZ[ei[lXqs\\Xfr[ifY[bbbf[XZ[a`s^q`Xb[cj^_[je]ilXr[b^_[_]lX[tbXe[pZk_XZ a^_sf[Xbf\]e[XbfXf[mleXjXZ[jXlbeYX`bf W Wu_ZXfY[ d]ffq[ cXb`XZ[ Y]\b`[ lXa^_up`bj`[ c]Zr[ Y]a[ pb``XZ[ ]ipeia^_cXbnXfr[ XZeu_e`X[ rsZqb[ gXj]a[ gsYr[ aXbfX[ eXZa`mZ`X[ vXb\]`r[ YbX[ mfqifp`[ bf[ XbfX\ XZa^_ZX^qXfY[ pZX\YXf[ o]i\r[ pXp]fjXfa^_]p`r[ xXZ_mZXr[ xXZai^_Xr[ YbX[ YbX[ pqZ]f`XZ[ \b`[ b_\[ ]fa`Xee`Xfr[ ]ee[ Y]a[ cbZlXe`X[ bf[ aXbfXf[ pXY]fqXf[ cbZZ
YiZ^_Xbf]fYXZb[oZ[lXZb^_`X`Xr[c]a[b_\[bf[YXf[dbff[q]\r[ifY[tXZa`]fY[gbq[]i^_[_XZeeb^_[cXfbjw[d]ffq[ei\bfYXa`[p]fY[YbX[nia]\\Xf_ufjX[ifY[cin`X tbXeXar[c]a[iftXZa`ufYeb^_[a^_bXfr[ei[XZqeuZXfb[rsZq[_]``X[YX\f]^_[a^_sf[jXeXl`r[]ea[YbX[p]e]SbXf[l]Za[ifY[k]Zqf`r[tsf[ifXZqeuZeb^_Xf[gZup`Xf[jXeXfq`r bfXbf]fYXZjeb``Xf[ifY[ei\[d`beea`]fY[q]\Xfb[oa[c]Z[qXbf[WifYXZr[Y]n[b\[P]ip[aXbfXZ[pXp]fjXfa^_]p`[YbX[oZbffXZifjXf[\X_Z[ifY[\X_Z[tXZle]n`[c]ZXfb[oZ \in`X[ ab^_[ a`X`a[ ]ip[ ncbXeb^_`[ ]ipjX_]e`Xf[ _]lXf[ X[ ]eas[ c]Z[ ei\bfYXa`[ YbX[ YsZ`bjX[ d`]`bsf[ a^_sf[ pZk_XZ[ bf[ YXZ[ pXa^_b^_`X[ tsf[ l]ZazRzl]Za[ XZZb^_`X` csZYXfb[ul[YbX[pqZ]f`XZ[Y]\]ea[lXZXb`a[YbX[lX_XZZa^_XfYX[d]^_`[jXcXaXfr[sYXZ[sl[abX[XZa`[ahu`XZ[bf[oZa^_Xbfifj[jX`ZX`Xf[c]ZXfr[lebXl[Y]_bfjXa`Xee`b kkZ[rsZq[a]_[Xbf[ecXblXbfbjXa[kZX\YcXaXf[]ia[cbX[Y]a[]fYXZXb jZjXfYc]ff[_]``X[XZ[XbfXf[mleXjXZ[jXlbeYX`r[i\[\b`[aXbfXZ[vbepX[XbfXf[kei^_`tXZai^_[ei[c]jXfb[mlXZ[XZ[c]Z[Xf`YX^q`[csZYXfr[ifY[YbX[pqZ]f`XZ[_]``Xf[\b` b_\[ifY[YX\[b_\[lba[]ipa[le]``[u_feb^_Xf[ecXb`Xf[die`b[XShXZb\Xf`bXZ`b[uppXfl]Z[c]Z[b_fXf[Y]Z]f[jXeXjXf[jXcXaXfr[Y]a[Z]a^_X[W]^_a`i\[YXa[mleXjXZa ei[XZqeuZXfr[YXZ[Y]lXb[\b`[cb^_`bjXf[pX_Xb\fbaaXf[qsfpZsf`bXZ`[ciZYXr[cbX[XZ[rsZq[bf[XbfX\[iflXsl]^_`X`Xf[ds\Xf`[eipeka`XZf[qsff`Xb[WXfbj[ahu`XZ tXZa^_c]fY[XZ[yXYs^_[cu_ZXfY[XbfXa[gZ]fa\b``XZahZifja[ahiZesab tbX[fu^_a`Xf[dsf]`X[_]``X[rsZq[Y]ei[lXfi`e`r[i\[ei[eXZfXfb[db``eXZcXbeX[q]ff`X[XZ[YbX[pXcs_f_Xb`Xf[YXZ[pqZ]f`XZr[ifY[as[qe]hh`X[aXbf[ecXb`XZ[xXZai^_r \b`[ vbepX[ XbfXa[mleXjXZa[ YbX[ kZXb_Xb`[ cbXYXZeiXZe]fjXfb[meeXZYbfja[ _u``X[ XZ[ ncbXeb^_`[ `Zs`eYX\[ fb^_`[ tXZe]aaXf[ qmffXfr[ cuZX[ XZ[ fb^_`[ d]ffq[ ifY[ gbq lXjXjfX`b ofj[YZufj`X[YXZ[die`b[ab^_[]f[YXf[dXXa`XZfb[dXbfX[lek`Xf[_]``Xf[ab^_[ei[Zs`XZ[k]ZlXfhZ]^_`[Xf`p]e`X`b[oZ[eb``XZ`X[eXb^_`b ctXbf[pXZi^_fr[jXa`]fY[XZ[gbqr[c_]`[\b^_[]ip[XiZX[dhiZ[jXlZ]^_`b[jf[YXbfXZ[hu_X[cbZY[YbX[nXb`[\b`[gXj][cbXYXZ[bf[\bZ[eXlXfYbjb[hiZ[YXa_]el[lbf[b^_[lXb Xi^_[jXlebXlXfbf[tbX[ifa`beel]ZX[dX_fai^_`[XbfXa[Xbfa]\Xf[WXaXfar[Y]a[tbXeeXb^_`[Y]a[eX`e`X[aXbfXa[xseqXa[c]Zr[a^_c]fj[bf[YbXaXf[WsZ`Xf[\b`b[t]ff \]^_`X[YXZ[XZfXi`[XbfaX`eXfYX[d`iZ\[yXYX[xXZa`ufYbjifj[if\mjeb^_b oXjXe\unbj[ ]eeX[ _]elX[ d`ifYX[ ciZYX[ YbX[ giZlbfX[ pkZ[ eX_f[ dbfi`Xf[ ]q`btbXZ`b[ TlXZ[ \X_ZXZX[ rXZbsYXf[ _bfcXj[ qsff`X[ d]ffq[ YbX[ pXf]ibjqXb`[ b_ZXZ lXZX^_fifjXf[klXZhZkpXfb[dbX[YiZ^_`ZXff`X[Y]a[pb``XZ[lba[]ip[cXfbjX[d`ulXr[i\[as[YXZ[pXp]_Z[XbfXa[ifjXcsee`Xf[mla`iZeXa[eitsZeiqs\\Xfb tbX[ eX_f[ dbfi`Xf[ a^_bXfXf[ ab^_[ YbXa\]e[ XfYesa[ ]iaeiYX_fXfb[ mlXZ[ ]ea[ YbX[ dsjcbZqifj[ ]lpbXer[ _bXn[ Xar[ a^_fXee[ ei[ _]fYXefb[ Wu_ZXfY[ d]ffq[ Y]a mlYX^qjb``XZ[tseeXfYa[ema`Xr[asZj`X[gbq[\b`[aXbfXf[pZXbp]Z\Xf[Y]pkZr[Y]n[Y]a[_XZ]iajX`ZXff`X[d`k^q[fb^_`[hse`XZfY[bf[YXZ[gbXpX[tXZa^_c]fYb[xsZab^_`bj a^_sl[XZ[Xa[eiZ[dXb`Xb gf]hh[YZXb[dX`XZ[if`XZ[b_fXf[lXp]fY[ab^_[YbX[giZlbfXb[dbX[\in`Xf[ahZbfjXfb[d]ffq[e]fYX`X[]ea[XZa`XZ[]ip[XbfX\[YXZ[jZsnXf[d^_]ipXeleu``XZr[YbX[ab^_[eXb^_` ei[YZX_Xf[lXj]ffXfb[t]ff[q]\Xf[rsZqr[aXbf[mleXjXZr[YXZ[lXbf]_X[YXf[ab^_XZXf[v]e`[tXZpX_e`[_u``X[ifY[bfa[jffXZX[YXa[mjjZXj]`a[jXa`kZe`[cuZXr[ifY[gbqb hs^_[qf]hh[eX_f[dbfi`Xf[lebXlXf[b_fXfb[tXZ[WXj[klXZ[Y]a[pXa`ufjX[bf[YbX[Yka`XZX[gbXpX[jXa`]e`X`X[ab^_[a^_cbXZbjXZ[]ea[]fjXfs\\Xfb[afY[cXb`]ia eXb`Z]ilXfYXZb[hs`p]eea[qsff`X[d]ffq[ec]Z[tXZai^_Xfr[YbX[ofXZjbXeipi_Z[ei[if`XZlZX^_Xfr[Ys^_[_u``X[Y]a[ecXbpXeesa[YbX[pqZ]f`XZ[]ip[YXf[re]f[jXZipXfb pXZuia^_X[tsf[]eeXf[dXb`Xf[tXZZbX`Xf[YbX[lXjbffXfYXf[d^_]e`tsZjufjXb[d^_sf[ebXp[YbX[giZlbfX[e]fja]\[cbXYXZ[]fb[j\[]eeXZeX`e`Xf[ds\Xf`[ebXn[]i^_[gbq ab^_[ p]eeXfr[ q]\[ ecba^_Xf[ oXjXeXeX\Xf`Xf[ ]ip[ ifY[ _]a`X`X[ cXb`XZr[ ]ip[ YbX[ rXZbh_XZbX[ YXa[mjjZXj]`a[ eib[ tXZ[ ]iplZ]fYXfYX[ PuZ\[ a`XbjXZ`X[ ab^_[ ei\ s_ZXflX`uilXfYXf[tZm_fXfb[tiZ^_[v]fYeXb^_Xf[\]^_`X[d]ffq[ab^_[tXZa`ufYeb^_b[j_ZX[lXZX^_fifjXf[_bfab^_`eb^_[tsZ_]fYXfXZ[db^_XZifjaXbfZb^_`ifjXf c]ZXf[ei`ZXppXfYr[abX[qsff`Xf[YbX[dXfasZXf[jXp]_Zesa[i\jX_Xfb[oZa`[]ea[YXZ[_XZZa^_XfYX[PuZ\[]lqe]fjr[lX\XZq`X[YbX[dse]]`bf[Y]a[xXZa^_cbfYXf[YXa mleXjXZab[coZ[ba`[eiZk^qjXlebXlXffr[a]j`X[rsZqb[cWXff[cbZ[cXb`[jXfij[Xf`pXZf`[abfYr[cbZY[XZ[YbX[pqZ]f`XZ[]ip[ab^_[]ip\XZqa]\[\]^_Xfbf[tXZ[die`b[_]``X YbX[of`a^_XbYifj[XbjXf\u^_`bj[jXpuee`b[d]ffq[]_f`Xr[Y]n[YbXa[YXf[gsY[YXa[mleXjXZa[lXYXi`Xf[\in`Xr[]lXZ[i\[yX`e`[fs^_[ei[tXZai^_Xfr[rsZq[bf[b_ZX\ dbff[i\eia`b\\Xfr[c]Z[Xa[ei[ahu`b cksej`[ \bZYf[ Z]if`X[ XZb[ cj^_[ ahkZX[ YbX[ miaa`Z]_eifj[ YXa[ YZb``Xf[ WXaXfa[ j]fe[ bf[ YXZ[ hu_Xb[ oa[ ba`[ tXZcbZZ`r[ a^_Xbf`[ ab^_[ ]lXZ[ \b``eXZcXbeX[ cXb`XZ tXZtseeqs\\fX`[ei[_]lXf[X[bf[aXbfXf[pXY]fqXf[cbZY[Xa[ab^_[aXela`[lXcin`XZbf dX_Z\]ea[\in`Xf[abX[ab^_[tsZ[pqZ]f`XZf[tXZlXZjXfr[Y]ff[ciZYXf[oZa^_k``XZifjXf[ahkZl]Zb cdbX[_]lXf[YXf[mleXjXZ[Xf`YX^q`r[fb^_`[c]_Zfr[a]j`X[gbqb rsZq[ _bXe`[ fb^_`[ XbfXf[mijXfleb^q[ e]fj[ bffXb[ hiZ[ ]ea[ cXb`[ _bf`XZ[ b_fXf[ tX`sf]`bsfXf[ XZpsej`Xfr[ ei^q`X[ XZ[ qiZe[ eia]\\Xfb[ d]ffqa[m_fifj[ ciZYX[ eiZ pXcbn_Xb`b[vsppXf`eb^_[_]``X[YXZ[ecXb`X[die`b[ab^_[fb^_`[i\asfa`[jXshpXZ`b obf[ g]lXea^_]^_`[ bbb[ ncba^_Xf[ YXf[ XbfeXefXf[ d`ZufjXf[ qeX``XZ`Xf[ abX[ bf[ YbX[ gbXpX[ ifY[ jXe]fj`Xf[ bf[ XbfXf[ b\[ v]elYifqXe[ ebXjXfYXf[ gsf`ZseeZ]i\b ncXbp]ZlbjX[mfeXbjXf[_ia^_`Xf[klXZ[ti`eXfYX[tsf[dq]eXf[ifY[tXZlZXb`X`Xf[Xbf[XbjXf`k\eb^_Xa[ke]^qXZfb mlXZ[fb^_`[Y]a[pXaaXe`X[d]ffqa[mip\XZqa]\qXb`r[asfYXZf[Y]a[_i\]fsbYX[WXaXfr[Y]a[ab^_[ahZifjlXZXb`[]f[YbX[jXjXfklXZebXjXfYX[W]fY[Yi^q`Xb[obf Yi\hpXar[YZs_XfYXa[gfiZZXf[YZ]fj[]ia[aXbfXZ[gX_eXb W rsZ`XZ[ \]^_`X[ XbfX[ r]iaX[ bf[ aXbfX\[ oXYXpeinb[ afif`XZlZs^_Xf[ _]``X[ XZ[ YbX[ pXa`]e`[ jXcX^_aXe`r[ fif[ lXa]n[ XZ[ cbXYXZ[ gXjXepsZ\r[ ifY[ YbX[ aXb`eb^_Xf d^_ihhXf[ahZXbe`Xf[ab^_[cbX[Oa`X[]lb oa[ba`[YbZ[]eas[]i^_[]ipjXp]eeXfr[cbahXZ`X[m`e]fa[oS`Z]abffb ni\bfYXa`[ ebXj`[ YbXaXZ[ d^_ein[ ]ip[ YXZ[ v]fYr[ XZcbYXZ`X[ YXZ[mZqsfbYX[ e]i`esab[ t]ff[ \in[ WmllXqbfj[ \X_Z[ lX]lab^_`bj`[ _]lXfr[ ]ea[ XZ[ rsZ`XZ[ eiZ[ duP a^_b^q`Xb[cWXZ[lba`[Yi[cbZqeb^_if[pZ]j`X[gq]Zbb[j_Z[xXZY]^_`[a^_bXf[XlXfp]eea[bf[XbfX[j]fe[lXa`b\\`X[ob^_`ifj[ei[ebXeXfb rsZ`XZ[ ]f`csZ`X`X[ fb^_`r[ asfYXZf[ Y]^_`X[ ]fjXa`ZXfj`[ f]^_b[ kek^_`bj[ ciZYXf[ YbX[ lbeYXZ[ aXbfXZ[ vXb\]`[ YXi`eb^_XZr[ Ys^_[ tXZle]n`Xf[ abX[ XlXfas[ a^_fXee cbXYXZ[if`XZ[XbfXZ[xbXee]_e[lZi^_a`k^q_]p`XZ[oZbffXZifjXfb[obfa]\qXb`[Viue`X[b_fb coZ[a^_Xbf`[Xa[fb^_`[ei[cbaaXffr[a]j`X[gq]Zbb m`e]f[fb^q`X[a^_cXZb[cWXff[XZ[`]`au^_eb^_[rsZqa[mleXjXZ[ba`[bbbi[d]j[aXbfr[Y]n[WmllXqbfj[b_f[jXa^_b^q`[_]`r[Y]\b`[XZ[ab^_[aXbfXZ[vXZqifp`[XZbffXZ`bf
ck]eea[rsZ`XZ[cbZqeb^_[YXZ[ba`r[pkZ[YXf[cbZ[b_f[_]e`Xfr[cXbn[XZ[i\[Y]a[pX_Xb\fba[YXZ[pqZ]f`XZ[ifY[YXa[h]lXea[eiZ[h]\XfesaXf[nsfXb[t]ff[lXY]Zp[Xa tbXeeXb^_`[fiZ[XbfXa[uinXZXf[mfa`snXar[YbXaXa[WbaaXf[]fa[Pb^_`[ei[pmZYXZfbf cdhZb^_[cXb`XZYf[psZYXZ`X[m`e]f[WmllXqbfja[ls`Xf[]ipb[cWbZ[_mZXf[YbZ[eibf
67 DEFGHIFIJGKELGMINLGEOFGPQRRIOSGFQGTLQUGKVIGWVXGYJPGZQJGIVJIMGPV[NSIJ\GPYJXIO]LEYJIJ\G^YMG_IVOGFQTELG`EFSGF[NKEL^IJGaIOOGIVJTINbOOScGJFG]IFEUG^KIV KLMI\G^KIVGLIVJIGYJPGIVJIJGXEJSVTIJGM[NNPIOGMVSGFSELXGEYFTIRLNTSIJGOIFV[NSF^bTIJcGPJGFIVJIJGKYTIJG`YJXIOSIGKJTLV``FOYFSc QRV[NSG ]IKITIJÖ\G LEYJSIG MEJJ×G VNLIJG LITOIVSILJG ^YcG QJLG ^ØTILS\G KIVOG FQG `LIMPELSVTIG OIF[NØR`IG KVIG KVLG VNMG ]VFNILG JV[NSG ]ITITJISG FVJPcG HNLIJG KVL O×LEJSIL\GNNSSIGILGYJFGKENLF[NIVJOV[NGFQ`QLSGEJTITLV``IJcÖ DILGLINEELSIGFSELLSIGFVIGNILEYF`QLPILJPGEJcGKOFGMEJJ×GVNLIGHE``IGEY`GÙNNMFSLENOIJGYMFSIOOSI\GFRLEJTGILcGMVIG`EJPGTILEPIGJQ[NGÚIVS\GFV[NGEY`GPVIGMIVSIG^Y KIL`IJGYJPGPIJGKYFOØFILG^YG]ISNSVTIJc DILGKJTLIV`ILGF[NLVIGEY`GYJPGSEYMIOSIcGJJSFIS^SGFSELLSIGILGFIVJIJGOVJXIJGKLMGEJ\GPILGROØS^OV[NGSEY]GKELc QDYGKQOOSIFSGIFGJV[NSGEJPILFcÖGMEJJ×G]IMbNSIGFV[N\GVNLILGMSVMMIGIVJIJG`IFSIJGYJPGPIJJQ[NGKELMIJGWOEJTG^YGZILOIVNIJcGKOFGFVIGILJIYSGPVIGHE``IGEY`GVNJ LV[NSISI\G ^IVTSIG FV[N\G PEUG ILG F[NJIOOG TIOILJSG NESSIcG ÛIFRIXSZQOOG ^QTG ILG FV[NG ZQLG PILG `OVMMILJPIJG ÜbJPYJTG IVJVTIG M[NLVSSIG KIVSILG ^YLb[X\G ]OVI]G E]IL FRLYJT]ILIVS\GYMGÝIPIGÞJE[NSFEMXIVSG^YGFIVJIJGOYJFSIJG^YGJYS^IJc QJLGVFSGIVJGK]OITILGZQJGßLI^^ELÖ\G]INEYRSISIGßQLXc QLVFSGPYGPVLGFV[NILàÖGMEJJ×GF[NVIJ\G^YMVJPIFSGVMGOITIJFES^G^YGWVX\GXIVJIFKITFGb]ILLEF[NSc QP[NG`bNOIGIFcÖ QDEJJGMYUGILGPEFGOITIJFSb[XG^YG_×ELVGFIVJÖ\G`QOTILSIGPVIGÜQOEESVJcGQáQJGßLI^^ELGTIF[NE``IJ\GYMGVNMGYJPGaEL×JSGIJPOV[NG^YLGaLIVNIVSG^YGZILNIO`IJcÖ DILGLINEELSIGFSVIUGIVJGTILIV^SIFGWJYLLIJGEYFcGMIVJIGLIKITYJTIJGKVLXSIJGROYMR\G]IVJENIGYJ]INQO`IJ\GPQ[NGFIVJIGÜYFXIOJGZILLVISIJGPIJGTYSIJGWNMR`ILc HIJJGILGEY[NGJYLGNEO]KITFGVJSIOOVTIJSGKEL\GMYUSIGILGPVIGOIFSIGZILFSINIJ\GMVSGPILGMEJJ×GPVIGHE``IGNVJSILGVNLIJGObLSIOGFSI[XSIcGLLIJJIJPGLYNSIGFIVJGLOV[X EY`G VNLcG ÞMG FIVJIG ÜYJPKVJXIOG ^Y[XSIG IFG ZILNEOSIJ\G EOFG ILG ILFSG PIJG MSLENOILG EJFSELLSIG YJPG PEJJG VNLIG OIILIG âEJP\G PVIG FVIG OEJTFEMG EYFFSLI[XSIcG QMETI ßLI^^EL\GPEUGKVLGaLIYJPIGFVJPcGHVLGKQOOIJGNIO`IJcÖGMVIG]IPVIJSIGFV[NGPIFGPPVQMFGPILGLIJISILOQTIJ\GPEFGVJGPILGOEOEãVFGaEL×JSGQ``IJ]ELGKIVSGZIL]LIVSISGKEL\ KIVOGFVIGEJJENM\GILGKbLPIGPVIFIGMRLE[NIGEMGINIFSIJGZILFSINIJcGMIVJIGÛIEXSVQJGOVIUGJV[NSGILXIJJIJ\GQ]GILGPIJGMVJJGVNLILGHQLSIG]ITLV``IJGNESSIc QßLI^^ELÖ\GKVIPILNQOSIGFVIcGQHVLGFVJPGaLIYJPIcÖ QHIVUGJV[NSÖ\GXEMGIFGTLQOOIJPGEYFGFIVJILGWINOIc MEJJ×GPIYSISIGEY`GFV[NGFIO]FSGYJPGJEJJSIGVNLIJGREMIJc JLGKVIPILNQOSIGPVIGOIFSIG^ØTILJPäGQÜÝEVOEMcÖ QOYSÖ\GJV[XSIGPVIGÜQOEESVJc QÜÝEVOEMGåGNIVUSGæaLVUG_×ELqrÖGJLG^QTGPVIGÙVRRIJG^YGPLØNJIJPIMGÙE[NIJGNQ[NGYJPG`OISF[NSIGPVIGÚNNJI\GPEUGWVXGÝEMMILJPG^YLb[XKV[Nc QÜÝEVOEMG]IPIYSISGæPILGOIS^SIGáILFY[NrÖ\G]ILV[NSVTSIGMEJJ×c QaLVUG_×ELqÖGNILLF[NSIGILGFVIGEJcGMIVJIGâEOSYJTGPLb[XSIGEJTIFREJJSIGHE[NFEMXIVSGEYFcGsIPIJGÜQMIJSGXQJJSIGILGFV[NGIJSF[NOVIUIJ\GILJIYSGEJ^YTLIV`IJc JLFSGEOFGPVIGÜQOEESVJGTI^KYJTIJILMEUIJGJV[XSIGYJPGI]IJ`EOOFGQaLVUG_×ELÖGFETSI\GNYF[NSIGIVJGKY`OIY[NSIJGb]ILGFIVJIGÚbTIc QHVLGcccGaLIYJPIÖ\GXJYLLSIGÜÝEVOEMcGQO×LEJSILGÝETIJGåGFVIG]ØFIcÖ t MEJJ×FG ßELEMESNIMESVXG KELG IFG ^YG ZILPEJXIJ\G PEUG FVIG EOOMNNOV[NG ÜÝEVOEMFG áILSLEYIJG TIKEJJcG ÜVSG PILG ÚIVSG `VIOG IFG VNLG OIV[NSIL\G FIVJG áILNEOSIJG ^Y ]ILI[NJIJ\G PEFG PIMG IVJIFG OIPVTOV[NG VJFSVJXSTIOIVSISIJG OIF[NØR`FG TOV[NcG PJG TIKVFFILG HIVFIG NNJIOSIG ÜÝEVOEMG IVJIMG WVJP\G PEFG SLQS^VTG FIVJG XQJJSIG YJP YJ]INILLF[NS\GPEFGTOIV[NILMEUIJGÚYFRLY[NGKVIGEY[NGIVJILG`bNLIJPIJGâEJPG]IPYL`SIc JLGXEJJSIGßLI^^ELGKVLXOV[NGJV[NSGYJPGKYUSIGJYL\GPEUGILGVLTIJPKEJJGVJGPVIFILGÞMTI]YJTG^YGFV[NGTIXQMMIJGKELGYJPGFV[NGFIVSPIMGEY`GPILGaOY[NSGZQLGPIJ O×LEJSILJG]I`EJPcGMIOSFEMILKIVFIGKELGVNMGPVIGMSESVQJG]VFGVJGZVIOIGJVJ^IONIVSIJG]IXEJJSGåGE]ILGPEUGPILGPJFSVJXSGZQJGaEL×JSGVNMGPVIFIGDESIJG]IVGFIVJIL JLF[NE``YJTGMVSTITI]IJGNESSI\GKQOOSIGILGJV[NSGEJILXIJJIJcGu]ILNEYRSGKIVTILSIGILGFV[N\GIVJ^YFINIJ\GPEUGILGJV[NSGF[NQJGVMMILGVJJILNEO]GPVIFILGÞMTI]YJT OI]SIc KY`G YJILXONLOV[NIG HIVFIG `bNOSIG MEJJ×G FV[NG ^YG ÜÝEVOEMG NVJTI^QTIJcG WVXG ILTVJTG IFG NNJOV[NcG DVIG ÜQOEESVJG ILLI[NJISI\G PEUG ISKEFG ZQJG PIJG YJ]IXEJJSIJ WLN`SIJ\GPVIGVJGVNJIJG]IVPIJGFSI[XSIJ\GEY`GPIJGOIF[NE``IJIJGb]ILFSLØMSIcGDEFGPI[XSIGFV[NGMVSGßQLXFGKYFFETI\GPILG`bNOSI\GPEUGÜÝEVOEMGFV[NG^YJINMIJP FIVJILGáQOOIJPYJTGJNNILSIc QDVIG OI`EJTIJIJG PILG O×LEJSILG KILPIJG YJLYNVTÖ\G ]IMILXSIG PILG ÜYOSVG F[NOVIUOV[NcG QáQLG EOOIMG ßLI^^ELcGKYFG VLTIJPIVJIMG OLYJPG FVINSG ILG FIVJG HILXG VJ OI`ENLcÖ QHVLGMbFFIJGIVJIJGâEJTELGILLIV[NIJÖ\GKEJPSIGMEJJ×GFV[NGEJGÜÝEVOEMcGQWEJJFSGPYGYJFG`bNLIJàÖ JLGZILFSEJPGQ``IJ]ELGJV[NS\GKEFGFVIGMIVJSIcGK]ILGEOFGFVIGVNMGXOEL^YME[NIJGZILFY[NSI\GPEUGPVIGO×LEJSILGÝIPIJGÜQMIJSGPIJGWQJSLQOOLEYMGFSbLMIJGXQJJSIJ\ FRLEJTGILGZQLGVNJIJGNILGVJGPIJGWE]IOF[NE[NS\GPILGZQJGNVILGEYFGKIVSILGVJGPVIG_VI`IG`bNLSIcGÚYTOIV[NGKYLPIJGPVIGS×RVF[NIJGOILNYF[NIGZQJGMSLENOKE``IJ ZILJINM]ELcGRQ[NGKNNLIJPGMEJJ×GVJGPIJGM[NE[NSGIVJFSVIT\GFENGFVIGIVJIJG_IVOGPIFGZILLVITIOSIJGM[NQSSIFGLQSGEY`TObNIJc
ÜVSGIVJILGâEJPGNEJTIOSIGFVIGFV[NGJE[NGYJSIJ\GMVSGPILGEJPILIJGNVIOSGFVIGPIJGIJSFV[NILSIJGMSLENOILcGHIJJGFVIGE]TOVSS\GKbLPIGFVIG^ILF[NMISSILJc ÚINJGÜISILGcccG^KEJ^VTGcccGDVIGv``JYJTGb]ILGVNL\GPYL[NGPVIG`ENOILGÙV[NSF[NIVJGNILIVJ`VIO\GKYLPIG^YJINMIJPGXOIVJILcGßOØS^OV[NGF[NQ]GFV[NGPILGÛYMR`GIVJIF XYTIO`ØLMVTIJG ÛQ]QSILFG b]ILG PIJG ÛEJPcG MEJJ×G `IYILSI\G QNJIG ^YG ^VIOIJcG DILG HVPILNEOOG IVJILG NI`SVTIJG JãROQFVQJG ME[NSIG FVIG `EFSG SEY]wG TObNIJPI _LbMMILFSb[XIGLITJISIJGNILE]cGx]IJG]LEJJSIGIFcGÚYMVJPIFSG]VFGPEFGaIYILGTIOØF[NSGKEL\GXQJJSIGJVIMEJPGVNJIJG`QOTIJc ÜÝEVOEMGF[NVIJG]ITLV``IJG^YGNE]IJ\GKQLEY`GIFGEJXEMcGÜVSGIVJILGOIKEJPSNIVS\GPVIGJVIMEJPGVNMG^YTISLEYSGNNSSI\GXOISSILSIGILGSVI`ILcGDILGM[NE[NSGKYLPI ]LIVSIL\GEJGPIJGHNJPIJG^QTIJGFV[NGF[NMEOIGßOESS`QLMIJGIJSOEJTGåGVJPIMGILGIVJIJGWE]IOFSLEJTGVJGOIV[NSGF[NKVJTIJPIGLIKITYJTGZILFIS^SI\GXQJJSIGPIL OIF[NE``IJIGPVIGJN[NFSIGILLIV[NIJcGJVJGM[NQSSGTOVSSGZQLGVNMGEY`\GEOFGILGMVSGPIJGaNYFSIJGPETITIJF[NOYTcGPJGPILGIJSFSEJPIJIJGv``JYJTGKEJPSIGILGFV[N `Ob[NSVTGYMc QâVILNILqÖGTLQOOSIGILc K]TIFSEJPIJIG ÙY`SG F[NOYTG VNJIJG IJSTITIJcG JFG LQ[NG JE[NG ÜISEOOG YJPG áILKIFYJTcG _ESFN[NOV[NG KELG PILG XOIVJIG ÛEYMG PVIG áQLXEMMILG IVJIL K]`EOOZILKILSYJTFEJOETIcGPJGTLQUIJGLINNOSILJGMbJPIJPI\GEJGPILGDI[XIGZILOEY`IJPIGÛQNLIGMQ[NSIJG^YLGáQLFQLSVILYJTGPVIJIJcGQJFGFSVJXSGE]F[NIYOV[N\ JV[NSGKENLÖ\GÝEMMILSIGWVXc KY`F[NLIVIJPGLEJJSIGÜÝEVOEMGOQFGYJPGZILF[NKEJPGNVJSILGIVJIMGPILGLINNOSILcGJVJIG^KIVSIGMSVMMIGKYLPIGOEYScGMEJJ×GE[NSISIGJV[NSGONJTILGEY`GWVX\GFQJPILJ `QOTSIGPIMGOIF[NE``IJIJcGDILGNESSIG^KELGIVJIJGO×LEJSILGTIFSIOOS\GKELGE]ILGZQJGPVIFIMGMVSGIVJIMGHILX^IYTGJVIPILTIF[NOETIJGKQLPIJcGKOFGPILGÜEJJGPVI ÜQOEESVJGYJPGPIJGMSLENOILGVJGVNLILGâEJPGFEN\GKEJPSIGILGFV[NG^YLGaOY[NScGQM[NVIUqÖG`EY[NSIGÜÝEVOEMc MEJJ×GNQ]GPVIGHE``I\G]LE[NSIGIFGÝIPQ[NGJV[NSG`ILSVT\GPIJGaOVINIJPIJGLb[XOVJTFGJVIPIL^YFSLI[XIJcGLVFGÜÝEVOEMGVNLGPIJGMSLENOILGIJSLVU\GKELGPILGO×LEJSIL ]ILIVSFGZILF[NKYJPIJcGHbSIJPGKEL`GPILGOIF[NE``IJIGVNLGPVIGHE``IGZQLGPVIGabUIGYJPGKEJPSIGFV[NGE]LYRSGYMcGsIPILGKYUSI\GPEUGFVIGJYJGIJPTbOSVTGVJGPIL aEOOIGFEUIJcGMVIGXQJJSIJGKIPILGZQLGJQ[NG^YLb[X\GKNNLIJPGPLEYUIJGFV[NILOV[NGF[NQJGÛQ]QSILGEY`MELF[NVILSIJc WVXGZILLVITIOSIGPIJGÚYTEJT\GVJPIMGILGPVIGIOIXSLQJVF[NIGM[NEOSYJTG^ILFSØLSIcGQDYGFQOOSIFSGPEFGM[NQSSGMVSGPIMGÛENMIJGZILF[NKIVUIJ\GJV[NSGKENLcÖ QDEFGKbLPIGYJFGJYLGIVJVTIGÜVJYSIJGONJTILGÙY`SGZILF[NE``IJcGHVLGNE]IJGQNJINVJGZILOQLIJcÖ QP[NGTINIGJV[NSGKVIPILGVJGPVIGOI`EJTIJF[NE`SÖ\GZILXbJPISIGßQLXc ÜÝEVOEMG^ILLSIGEJGIVJIMGXJERRGIVJIJGÜISILGOEJTIJGÛQNLFSb[XcGKOFGILGIFGIJPOV[NGEYFGPILGáILEJXILYJTGTILVFFIJGNESSI\GyYQOOGIVJIGSLb]I\GØOVTIGaObFFVTXIVS PELEYFGNILZQLcGJFGFSØLSIGVNJGJV[NS\GPEUGPVIGFSVJXIJPIGLLbNIGb]ILGFIVJIGâNJPIGYJPGFIVJIJGx]ILXØLRILGOVI`cGÙEYSIGPILGáIL^b[XYJTGEYFFSQUIJP\GF[NKEJTGIL PEFGÜISEOOGKVIGIVJIGWIYOIc áQJGPILGEJPILIJGMIVSIGNILGKYLPIGZILFY[NS\GPEFGM[NQSSG^YGØ``JIJcGÙEYSOQFG`LEUGFV[NGIVJGDIFVJSITLESVQJFFSLENOGPYL[NGPVIGPV[XIGHEJPYJTcGÜÝEVOEMGFSELLSIGEY` PEFGTLØUILGKILPIJPIGÙQ[Nc MEJJ×G`LØFSIOSIcGMVIGMYUSIGIVJFINIJ\GPEUGFVIGJQ[NGZVIOG^YGKIJVTGb]ILGPIJGOIF[NE``IJIJGKYUSIJcGJVJIGKYLEGPIFGÞJNIVMOV[NIJGNE`SISIGVNMGEJGåGILGKVLXSI EY`GFIVJIGKLSGb]ILOITIJGYJPGPQ[NG^YTOIV[NGNVO`OQFGYJPGYJ]INQO`IJcGQWQMMGF[NQJqÖGWVXG^ILLSIGMEJJ×GIVJ`E[NGMVSGFV[NcGQHVLGMbFFIJGVJGDI[XYJTcÖGDEF M[NQSSG]LE[NGEY`cGJVJGÛQ]QSILGF[NKI]SIGNILIVJGåGNVJSILGVNMGKYLPIJGO×LEJSILGFV[NS]ELc ÜÝEVOEMGFSbL^SIGFV[NGEY`GPVIGÜEF[NVJIcGx]KQNOGPVIFIGZQJGIVJIMGJJILTVIF[NVLMGYMTI]IJGKYLPI\GSLE`GPEFGÛQNLFSb[XGXLE[NIJPGYJPG`YJXIJFRLbNIJPGEY`GPVI WYTIONbOOIcGDILGÛQ]QSILGZILOQLGEJGâØNI\GSEYMIOSIcGÚVIOOQFGRIVSF[NSIJGFIVJIGTIOIJXOQFIJGKLMIGPYL[NGPVIGÙY`Sc K]ILMEOFGF[NOYTGÜÝEVOEMG^YcGJVJIGTLIOOIGMSV[N`OEMMIGKVL]IOSIGVNMGPEFGÛQNLGEYFGPIJGâNJPIJcGDILGÛQ]QSILGFSbL^SIGIJPTbOSVTGE]GYJPG]LE[NGEYFIVJEJPILc ÜÝEVOEMGKYLPIGZQJGIVJIMG_LbMMILFSb[XGTISLQ``IJGYJPG^YGLQPIJGTILVFFIJc DYL[NGPEFGM[NQSSGFSLØMSIJGO×LEJSILGNILIVJcGQM[NVIUGIJPOV[NqÖGLVI`GWVXGJI]IJGMEJJ×cGQÜÝEVOEMGPEL`GVNJIJGJV[NSGVJGPVIGâNJPIG`EOOIJcÖ HVIG VJG _LEJ[IG ]ISNSVTSIG PVIG ÜQOEESVJG PIJG KYFOØFILcG OOIV[N^IVSVTG KYLPIJG PVIG O×LEJSILG ^YG F[NESSIJNE`SIJG HIFIJ\G EJG PILIJG ÞMLVFFIJG PVIG SØPOV[NIJ OOYSFSLENOIJGEYFIVJEJPILG`OQFFIJ\GQNJIGFVIG^YGTI`NNLPIJc MEJJ×GFSIOOSIGPIJGFVJJOQFIJGLIF[NYUGIVJcGQP[NGKYUSIGIFÖ\GFETSIGFVIcGQHVLGNE]IJGXIVJIGzNEJ[IcÖ JVJGFSI[NIJPILGM[NMIL^GPYL[N^Y[XSIGVNLIGM[NON`IJGYJPGOVIUGFVIGEY`FSØNJIJcGKY[NGWVXGLVI]GFV[NGN[N^IJPGPIJGWQR`cGabLGIVJIJG`Ob[NSVTIJGKYTIJ]OV[XGKELGIF ]IVPIJ\GEOFGNØLSIJGFVIGÜÝEVOEMGLIPIJ\GE]ILGPILGOIF[NE``IJIGOETGLITYJTFOQFGEMGLQPIJcGÛQ]QSILGTLV``IJGJE[NGVNM\GYMGVNJGNQ[N^YNI]IJc MIXYJPIJ]LY[NSIVOIGFRNSILGKELGILGZILF[NKYJPIJc QHQGVFSGILGNVJàÖGFSVIUGWVXGSQJOQFGNILZQLcGQaQLSÖ\GFETSIGßQLXcGQP[NGXQJJSIGJYLGKENLJINMIJ\GPEUGIVJIGWLE`SGZQJGIY[NGEY`GVNJGb]ILFSLØMSIcÖ DVIGO×LEJSILGYMLVJTSIJGFVIcGMEJJ×GOVIUGPIJGMSLENOILG`EOOIJc t QJVJG^KIVSIFGÜEOGKILPIJGKVLGVNJIJGJV[NSGIJSXQMMIJ\GJV[NSGKENLàÖ DVIG`OVMMILJPIJGK]FSLENOMbJPYJTIJGPILGT×LEJSVF[NIJGHE``IJGME[NSIJGVNJIJGYJMVUZILFSNJPOV[NGXOEL\GKEFGFVIGILKELSISIcGHNNLIJPGWVXGFV[NGQ``IJ]ELGZQL PILGILJIYSIJGOI`EJTIJF[NE`SG`bL[NSISI\GME[NSIGMEJJ×GFV[NGMINLGOIPEJXIJGb]ILGPVIGVNJIJG]IZQLFSINIJPIJGáILNØLIc QPMMILNVJGF[NIVJIJGFVIGYJFG`bLGKV[NSVTG^YGNEOSIJ\GJV[NSGKENLcGabJ`GÜEJJGYJPG^KIVGÛQ]QSILGEOFGHE[NIJGcccÖ QM[NKIVTqÖG KYLPIG WVXG EJTINILLF[NScG MVIG NESSIJG PVIG K]`EOOFEMMIOFSIOOIG ZILOEFFIJG YJPG ]I`EJPIJG FV[NG ZILMYSOV[NG EY`G PIMG HITG ^YMG JN[NFSIJ KJSVTLEZF[NE[NScGDVIGMSESVQJG]IFEUGSESFN[NOV[NGLVIFVTIGKYFMEUIcGKOOIF\GKEFGPVIGPLIVG^YGOIFV[NSG]IXEMIJ\GKVLXSIG`LIMPGYJPG]IPLQNOV[Nc
ßOØS^OV[NGME[NSIGFV[NGKY`LITYJTG]LIVScGQHQGVFSGPILGÛQ]QSILGNVJàÖGNØLSIGMEJJ×G`LETIJc QJ]IJGKELGILGJQ[NGJI]IJGMVLÖ\GXEMGPVIGb]ILLEF[NSIGKJSKQLSc QJLGXEJJGJV[NSGIVJ`E[NGZILF[NKVJPIJ\GQNJIGFV[NGE]^YMIOPIJcÖ QWIVJIGHENLJINMYJTÖ\GF[NJELLSIGPILG^KIVSIGÛQ]QSILc QáILMYSOV[NGIVJGDI`IXSGVJGPILGJOIXSLQJVXcGHVLGKILPIJGYJFGFRNSILGPELYMGXbMMILJcÖGDILGOEJTGMbJPISIGVJGIVJIGâEOOIcGPMGâVJSILTLYJPGIJSPI[XSIGMEJJ×GPEF ÛYJPGIVJIFGKJSVTLEZF[NE[NSFcGDVIGFRILLVTIJG_IVOI\GPVIGPQLSGZILOEPIJGKYLPIJ\GTINØLSIJG^KIV`IOOQFG^YGIVJIMGÛEYMF[NV``cGLELTGPVIGMSESVQJGPIMJE[NGTEL ßLQPYXSVQJFFSNSSIJGTLØUILIJGÞM`EJTFàGQLOIV]SGFSINIJqÖGMEJJ×GYJPGPVIGEJPILIJGKYLPIJGLI[NSGYJFEJ`SG^YLb[XTINEOSIJcGKY[NGPILG^KIVSIGÛQ]QSILGKELGJYJ ZILF[NKYJPIJc QDEMVSGNE]SGVNLG^YGSYJ\GQPILàÖGDILGO×LEJSIL\GPIFFIJGaVJTILGTI`NNLOV[NGJENIGEMGKYFOØFILGFIVJILGHE``IGOET\G`YJXIOSIGPVIGOI`EJTIJIJGKbSIJPGEJc QHQMVSàÖGKQOOSIGPVIGÜQOEESVJGKVFFIJcGQ_YGJV[NS\GEOFGNNSSIFSGPYGXIVJIGKNJYJTcGOLYJPOQFGZILF[NKVJPIJGXIVJIGÛQ]QSILcÖGÜÝEVOEMqGPYL[N^Y[XSIGIFGMEJJ×c DILGÜEJJGF[NVIJGNNJOV[NIGOIPEJXIJG^YGNITIJcGQHIJJGIYILGaLIYJPGKVIPILG^YF[NONTS\GKILPISGVNLGFSIL]IJÖ\GKELJSIGILc DVIGÜQOEESVJG^Y[XSIGMVSGPIJGM[NYOSILJcGQHVLGXØJJIJGIFGJV[NSGZILNVJPILJÖ\GMIVJSIGFVIcGK]ILGQ]KQNOGFVIGFV[NGÜbNIGTE]\GXQJJSIGFVIGIVJGOIV[NSIFGÚVSSILJGVNLIL MSVMMIGJV[NSGZIL]ILTIJc PNLGOITIJb]ILGFSVIUGIVJGE]`NOOVTIFGÙE[NIJGEYF\GPQ[NGPEFG`EY[NIJPIGOILNYF[NGIVJIFGMSLENOF[NYFFIFGOVIUGIFGVNMGEY`GPIJGÙVRRIJGTI`LVILIJcGKYFGKIVS EY`TILVFFIJIJGKYTIJGFSELLSIGILGMEJJ×GEJ\GINIGILG^YFEMMIJ]LE[NcGHVIPILGKYLPIGTIF[NQFFIJcGLIZQLGFVIGb]ILNEYRSGÚIVSG`EJPIJG^YG]ITLIV`IJ\GFSEL]IJ ^KIVGKIVSILIGO×LEJSILGIVJIJGF[NJIOOIJG_QPcGDVIGEJPILIJGKYLPIJG^YGYJFSISIJGM[NESSIJcGK]ILGVNLIGPMRYOFFSLENOIJGSLE`IJGOIPVTOV[NGPVIGJN[NFSIGHEJPGYJP LVFFIJGTObNIJPIGaYL[NIJGNVJIVJcGDEFGÚVIO\GPEFGFVIGI]IJGPIYSOV[NGZQLGFV[NGTIFINIJGNESSIJ\GTE]GIFGJV[NSGMINLcGßOØS^OV[N\GKVIGEYFGPIMGRV[NSFGNILEYF\GKEL ÜÝEVOEMGILJIYSG^KVF[NIJGVNJIJcGÜVSG]OQUIJGâNJPIJGRE[XSIGILG^Y\GKVL]IOSIGIVJIJGÜEJJGNQ[NGYJPGF[NMISSILSIGVNJGTITIJGPIJG^KIVSIJcGLIVPIGLYSF[NSIJ MISILKIVSGb]ILGPIJGLQPIJ\GKQ]IVGPEFGM[NESSIJNE`SIGb]ILLEF[NIJPGKVIPILGZQJGVNJIJGE]`VIOcGÜÝEVOEMGFIS^SIGJE[N\G]I`ØLPILSIGVNLIGMSLENOILGMVSGaYUSLVSSIJGVJ PVIG IJSTITIJTIFIS^SIG ÛV[NSYJT\G YJPG OVIUG JQ[NMEOFG FIVJIG aNYFSIG FRLI[NIJcG HENLF[NIVJOV[NG NNSSIG ILG PVIG O×LEJSILG ILF[NOETIJ\G NNSSIG VNJG JV[NSG MEJJ×F F[NEL`ILGKYFLY`G^YLGJVJFV[NSGTI]LE[NScGQMVIGNE]IJGPIJG_QPGZILPVIJSÖ\G]LYMMSIGILcGQMVIGFVJPGKINLOQFÖ\GF[NbSSIOSIGPVIGÜQOEESVJGPIJGWQR`cGQHVOOFSGPYGPV[NGEJ VNJIJGZILTLIV`IJàÖ ÜÝEVOEMGMYUSIGILFSGOILJIJ\GFIVJIGOI`bNOIG^YG]INILLF[NIJcGDEFG]ITLV``GILG^YMVJPIFS\GEOFGILG^QLJVTGEY`FSEMR`SIGYJPGMEJJ×GFV[NGPELEY`NVJGF[NLQ``GZQJGVNM E]KEJPSIcGKOFGXØJJIGILGJV[NSGZILFSINIJ\GKEFGEJGFIVJIMGâEJPIOJGF[NOI[NSGFIVJGFQOOSI\GFSELLSIGILGVNLGNVJSILNILcGDVIGßELEMESNIMESVXILVJGFRbLSIGFIVJIGLOV[XIc KY`GPIMGK]FES^G`YNLGFVIGNILYMc QDVIGO×LEJSILGFVJPGJV[NSGPIVJIGIVTIJSOV[NIJGaIVJPI\GQ]KQNOGFVIGPV[NGEJTLIV`IJcGDILGKENLIGOITJILGVFSGKJSV{JMcÖ J]IJG KELG ÜÝEVOEMG `bJ`G ÜISILG IJS`ILJSG TIKIFIJ\G YJZILMVSSIOSG FSEJPG ILG JI]IJG VNL\G ]ILbNLSIG FVIG YJPG cccG IFG KELG KVIG IVJG M[NLVSSG PYL[NG PEFG RV[NSFcG xNJI ILXIJJ]ELIJGu]ILTEJTG`EJPGMEJJ×GFV[NGVJGIVJILGZØOOVTGEJPILIJGÞMTI]YJTGKVIPILcGMIXYJPIJGFRNSILGKELIJGEY[NGWVXGYJPGPILGÜYOSVGJI]IJGVNLc MQGKIVSGPEFGKYTIGLIV[NSI\GFSEJPIJGLINNOSILGEYFGSLEJFRELIJSIMGÜESILVEOGEJIVJEJPILTILIVNScGß`OEJ^IJXYOSYLIJGF[NKEMMIJGVJGSLb]IJGRNNLOØFYJTIJ\GZQJ KSQMFQJJIJG ZILF[NVIPIJILG MRIXSLIJG ^YG bRRVTIMG HE[NFSYMG EJTILITScG âVILG OETIJG EY[NG PVIG u]ILLIFSIG PILG ]IVPIJG ÛQ]QSILcG JVJIG VNLILG HE``IJG NESSI ÜÝEVOEMGEJGFV[NGTIJQMMIJc QÚILFSØLIJqÖG `EY[NSIG ILcG QKOOIFqÖG JNIG MEJJ×G VNJG PELEJG NVJPILJG XQJJSI\G ^IL]ELFSIJG DYS^IJPIG ZQJG LINNOSILJG VJG IVJILG KENLIJG WISSIJLIEXSVQJcG DIL OIF[NE``IJIG ZILF[NKEJP\G ILF[NVIJG VMG FIO]IJG MIXYJPIJ]LY[NSIVOG TYSG `bJ`NYJPILSG ÜISILG IJS`ILJSG YJPG OVIUG JV[NSFG EOFG IVJIJG TObNIJPIJG _LbMMILNEY`IJ ^YLb[Xc ÛQ]QSILG F[NKI]SIJG NILEJcG ÚKIVG ZILTVJTIJG VJG TLIOOIJG JãROQFVQJIJ\G ]IZQLG FVIG VNLIG M[NYS^F[NVLMIG EXSVZVILIJG XQJJSIJcG ÜÝEVOEMFG MSLENOILG KELG ÝIPQ[NG ^Y F[NKE[N\GYMGPVIGK]KINL`IOPILGPILGEJPILIJG^YGPYL[NF[NOETIJcGDVIGÛQ]QSILGME[NSIJGsETPGEY`GVNJcGK]ILGVMMILGPEJJ\GKIJJGFVIGVNJGIVJTIXLIVFSGNESSIJ\ ZILF[NKEJPGILGFRYLOQF\GYMGVLTIJPKQGVJGPILGRNNIGKVIPILGEY`^YSEY[NIJc MEJJ×GYJPGPVIGEJPILIJGXQJJSIJGFV[NGJV[NSGMINLGYJ]IMILXSG^YLb[X^VINIJc QDIJGM[NOEMEFFIOGNESGPEFGNEELVTIGÜQJFSLYMGYJFGIVJTI]LQ[XSÖ\GF[NVMR`SIGWVXGEY`TI]LE[NScGQHELYMGMYUGILGFIVJIGWLN`SIG]IKIVFIJàGHVLGcccGKQGFVJPGKVLà ÖGDVIGOIS^SIJGHQLSIGFSVIUGILG]ILIVSFGVJGIVJILGILJIYSGZILNJPILSIJGÞMTI]YJTGNILZQL\GVJGIVJILGIJTIJGWEMMIL\GPVIGJV[NSGILXIJJIJGOVIU\GKIO[NIJGÚKI[XIJGFVI PVIJSIGQPILGTIPVIJSGNESSIcGÚYMVJPIFSGPVIGLIOIY[NSYJTG`YJXSVQJVILSIGJQ[NGIVJKEJP`LIVGYJPGNESSIGFV[NGFIO]FSSNSVTGEXSVZVILScGÜÝEVOEMG`OISF[NSIGPVIGÚNNJIc QâVILGcccGMV[NILNIVSqÖGFSVIUGILGNILZQLcGKY`TI]LE[NSGKIPIOSIGWVXGMVSG^KIVGKLMIJcGQDEFGJN[NFSIMEOG`LETIGZQLNIL\GQ]GPYGYJFGIJS`bNLIJGPEL`FScGÞJPGILF[NLI[XI MV[NGJV[NSGKVIPIL\GJV[NSGKENLcÖ ÜÝEVOEMG]LYMMSIGJYLc QPFSGF[NQJGTYSÖ\G]IF[NKV[NSVTSIGMEJJ×\GPVIGFRbLSI\GPEFGPILGOIF[NE``IJIGVMGLITLV``GKEL\GFV[NGZQJGVNJIJGE]^YXERFIOJcGQWVXGMIVJSGIFGJV[NSGFQ\GILGNESGKJTFScÖ u]ILLEF[NIJPILKIVFIGZILNVIOSGPILGáOENLIFILGFV[NGSLQS^GPVIFILGLIMILXYJTGLYNVTcGQWIJJIGKJTFSÖ\GTLQOOSIGÜÝEVOEMcGQsIS^SGJV[NSGMINLcGsIS^SGb]ILEOOG^YTOIV[N YJPGFSELXcÖGMEJJ×GJV[XSIG^Y`LVIPIJcGRV[NSFGEJPILIFGNESSIGFVIGILKELSIScGQHVLGMbFFIJGPVIGMSESVQJGZILOEFFIJÖ\GFETSIGFVIcGQHVOOFSGPYGYJFGPE]IVGNIO`IJàÖ QâVIL]OIV]IJqÖGÜÝEVOEMGTE]GIFGFQGVJ]LbJFSVTGZQJGFV[N\GPEUGPVIGÜQOEESVJG^YFEMMIJ^Y[XSIc QLIZQLGKVLG`OVINIJ\GMbFFIJGKVLGXNMR`IJcGDEFGVFSGIFGPQ[N\GKEFGPYGKVOOFSàÖ DILGOIF[NE``IJIGJV[XSIGIV`LVTc
QDEJJGNØLIGMVLG^YcGDYGXIJJFSGPVIGMSESVQJ\GKIVOGPIVJGM[NØR`IL\GßLI^^EL\GFVIGXIJJScGKOFGILFSIFG]LEY[NIJGKVLGHE``IJcGK]ILGXIVJIGIVJ`E[NIJGMSLENOIL\GPEMVS XNMIJGKVLGJV[NSGKIVScGDVIGO×LEJSILGFVJPGJYLGPEJJG^YG]IFVITIJ\GKIJJGKVLGFVIGb]ILLEF[NIJGcccÖ t DVIGKLSGYJPGHIVFI\GKVIGÜÝEVOEMGFIO]FSGTLØUILIGJJS`ILJYJTIJGb]ILKEJP\GKELGJYLGF[NKILG^YG]IF[NLIV]IJcGJVJGKIJVTGILVJJILSIGFVIGEJG_IOIRQLSESVQJcGMEJJ× ZILMYSISIGÝIPQ[N\GPEUGZQLGEOOIMGÜÝEVOEMFGRESYLGPE^YG]IVSLYTcGKOFGßLI^^ELFGOIF[NØR`GKELGILGIVJG_IVOGPILGOEOEãVFGaEL×JScGHIFNEO]GFQOOSIGILGPEJJGJV[NSG^Y ÝIPILGÚIVSGEJGÝIPIMG]IOVI]VTIJGxLSGFIVJGXØJJIJàGsIPIGMQJJI\GÝIPILGßOEJISGYJPGÝIPILGRI]IOGKELIJGßLI^^ELFGWØLRILcGK]ILGFIO]FSGIVJGFQO[NILGáILTOIV[N XQJJSIGPIJG_ESFE[NIJGJYLGEJJNNILJPGTILI[NSGKILPIJc ÜÝEVOEMG OILJSIG F[NJIOO\G FIVJIG JIYIJG WLN`SIG IVJ^YSIVOIJcG âESSIG ILG EJ`EJTFG MVSG IVJIMG M[NLVSSG JYLG KIJVTIG WVOQMISILG b]ILKVJPIJG XØJJIJ\G FQG KYLPIJG PVI JJS`ILJYJTIJG]EOPGTLØUILcGJJPOV[NG]IXEMGMEJJ×GIVJIJGTIJEYILIJGJVJPLY[XGZQJGPILGYJTINIYILOV[NIJGKYFPINJYJTGPILGMSESVQJcGJFGXQJJSIGXEYMGMINL ÚKIV`IOGPELEJGTI]IJ\GPEUGMEJGSESFN[NOV[NGVMGPJJILJGIVJIFG^YMGTLØUSIJG_IVOGEYFTINØNOSIJGßOEJISIJGKIVOSIc ÜÝEVOEMGYJPGMEJJ×GFY[NSIJGPLIVGHE``IJOETILGEY`\GINIGPVIGÜQOEESVJGPEFGÛV[NSVTIG`EJPäGMRLIJTXØLRILGZQJGJYLGKIJVTIJGÚIJSVMISILJGDYL[NMIFFIL\GE]IL ZILMYSOV[NGMVSGIJQLMILGJãROQFVZXLE`ScGÚKEJ^VTGMSb[XG]LE[NSIGFVIGVJGPIJGÙIPIL]IYSIOJGYJSIL\GPVIGYMGVNLIG_EVOOIG]I`IFSVTSGKELIJc ÜÝEVOEMGF[NVIJGPIJGKVJ^VTIJGDVJTILJG^YGMVUSLEYIJcGDVIGHVLXYJTFXLIVFIGZQJGMSLENOILJGNVJTITIJGXEJJSIGIL\GPIFNEO]GKELGIVJIGFQO[NIGHE``IGPEFGILFSI\GKEF ILGEJGFV[NGJENMcGQMQ]EOPGIVJGO×LEJSILGÚIVSG`VJPIS\G^YMGM[NESSIJG^YGKILPIJ\GVFSGILGPEMVSGYJ]IFVIT]ELÖ\GKINLSIGMEJJ×GE]c Q_LQS^PIMGTYScÖ QHVLGKQOOIJGáILKVLLYJTGFSV`SIJGYJP\GKIJJGMØTOV[N\GPVIGMSESVQJGJE[NNEOSVTGOENMOITIJcGOOEY]IGMVL\GPIVJGMSLENOILGKNLIGJV[NSGZVIOGMINLGEOFGIVJGMRVIO^IYTcÖ LLYMMIJPGF[NOIYPILSIGÜÝEVOEMGPVIGHE``IG]IVFIVSIcGPNJG]IIVJPLY[XSIGPVIGÛYNIGYJPGu]ILOITIJNIVS\GPVIGMEJJ×GVNMGTITIJb]ILGNILEYFXINLSIc QP[NG]IKIVFIGIFGPVLÖ\GFETSIGFVIcGQLLVJTIGMV[NGVJGPVIGÚIJSLEOIcÖ JLG TLV``G JE[NG VNLILG âEJP\G VMG FIO]IJG ÜQMIJSG FSEJPIJG ]IVPIG EY`G IVJILG OEOILVI\G ZQJG PILG EYFG FV[NG IVJG NILZQLLETIJPILG ÛYJP]OV[XG ]QScG KY`G YJ^NNOVTIJ LVOPF[NVLMIJGKELIJGKYFF[NJVSSIGPIFGHIOSLEYMFG^YGFINIJ\GMEJ[NIG^IVTSIJGLELF{|{LELFGVJGIVJILGßILFRIXSVZI\GKVIGPVIFIGFV[NGEYFGIVJILGJJS`ILJYJTGZQJ MINLILIJGNYJPILSSEYFIJPGÙV[NSÝENLIJGEYFGTIFINIJGILTI]IJGMYUSIc QÛQ]QSILqÖG LVI`G ÜÝEVOEMcG OOIV[N^IVSVTGF[NOYTGYJMVSSIO]ELGb]ILGVNJIJGIVJG_NILMQFSLENOGIVJcGDEUGFVIGYJZILOIS^SG]OVI]IJ\GNESSIJGFVIGJYLGPIMG ÞMFSEJPG ^Y ZILPEJXIJ\G PEUG PILG M[NYUKVJXIOG KITIJG PILG YMOEY`IJPIJG LEOYFSLEPIG ^YG FSIVOG KELcG LVFG PVIG HEJPYJTG VMG XQJ^IJSLVILSIJG aIYILG EYFG MINLILIJG HE``IJ F[NMQO^\GNESSIJGÜÝEVOEMGYJPGMEJJ×GONJTFSGVNLIJGMSEJPQLSGTIKI[NFIOScGMVIGKYUSIJGJYJ\GPEUGPVIGO×LEJSILGMVSGVNJIJGLI[NJISIJGYJPGIJSFRLI[NIJPGZQL]ILIVSIS KELIJcGKJGEOOIJGJIYLEOTVF[NIJGßYJXSIJGKELIJGÛQ]QSILGZILSIVOS\GYJPGZILMYSOV[NGFENGIFGEYUILNEO]GPILGÚIJSLEOIGNNJOV[NGEYFcGDVIGVJGFSELXIGJJILTVIF[NVLMI TINbOOSIJGÜEF[NVJIJGKELIJGJYLGF[NKILGEJTLIV`]ELc ÜÝEVOEMGNESSIGFV[NGPEFGIJSTITIJTIFIS^SIGJJPIGPIFGMINLILIGNYJPILSGÜISILGPYL[NMIFFIJPIJGÛEYMIFGEOFGJJPRYJXSGFIVJIFGxLSFKI[NFIOFGEYFTIFY[NSc K]ILGQ]KQNOGPVIGKY`MILXFEMXIVSGEOOILGFV[NGJQ[NGEY`GPVIGOEOILVIGXQJ^IJSLVILSI\GPEYILSIGIFGJYLGMIXYJPIJ\G]VFGMEJGMEJJ×GYJPGVNJGILJIYSGIJSPI[XSIGåG`bL PVIGÜQOEESVJGJV[NSGIVJMEOGÚIVSGTIJYT\GYMGIVJVTIGPILGMRLIJTXØLRILGOQF^YKILPIJc K]ILMEOFG MYUSIJG FVIG `OVINIJG YJPG MESILVEOVFVILSIJG YJMVSSIO]ELG ZQLG PIMG âEYRSF[NQSS\G XIVJIG ^KEJ^VTG ÜISILG ZQJG IVJIMG ßYOXG ÛQ]QSILG IJS`ILJScG LOVJPOVJTF F[NOIYPILSIGMEJJ×G^KIVGÜVXLQ]QM]IJcGKOOIF\GKEFGFVIGJQ[NGKENLJENM\GKELGIVJGTLIOOILGLOVS^\GPEJJG`EJPGFVIGFV[NGVJGIVJIMGMQPLVTIJ\GIJTIJGOEJTGKVIPIL\GVJ PIJGFV[NGZILMYSOV[NGF[NQJGFIVSGOEJTIMGJVIMEJPGMINLGZILVLLSIcGDVIGÙY`SGKELGF[NEOGYJPGFSV[XVT\GYJPGIVJIGYJEJTIJINMIGHNLMIGFSLENOSIGZQJGPIJGVJGJE[XSIJ aIOFGTINEYIJIJGHNJPIJGEYFc ÜÝEVOEMGZILF[NKEJP\GYMGTOIV[NGPELEY`GMVSGßQLXGYJPGWVXG^YFEMMIJG^YLb[X^YXINLIJcGQâVILG]IFFILGFV[NILÖ\G]LYMMSIGILcGQP[NGKVOOGJV[NSGSESIJOQFG^YFINIJÖ\ RLQSIFSVILSIGßQLXcGQPMMILNVJGNE]IJGPVIGO×LEJSILGMIVJIGK]OITILGTISØSIScÖ QáILTVUG PIVJIG ÛE[NIÖ\G KINLSIG MEJJ×G E]cG QHVLG MbFFIJG PVIG aLIVNIVSG ILOEJTIJ\G YMG PIJG KENLIJG ÞLNI]ILG ]IFSLE`IJG ^YG XØJJIJcG JMQSVQJIJ\G KVIG PYG FVI NILEY`]IF[NKØLFS\G F[NEPIJG YJFG JYLcÖGK]F[NNS^IJPG KQTG FVIG ^KIVG KIVSILIG MRLIJTXØLRILG VJG VNLILG ÛI[NSIJcG QÜÝEVOEM\G ]LVJTIG MV[NG JQ[NG IVJMEOG VJG PVI ÚIJSLEOIcGP[NGKVOOGVNLIGHVLXYJTGFINIJcÖ K]ILMEOFG MESILVEOVFVILSIJG FVIG EY`G PILG OEOILVIcG JVJG MINLILIG ÜISILG PYL[NMIFFIJPILG WLESILG TNNJSIG VMG LQPIJcG MSENOSLNTILG YJPG áILFQLTYJTFOIVSYJTIJ ]VOPISIJGIVJGKVLLIFGDYL[NIVJEJPIL\GVJGPIMGFV[NGPVIG^IL`IS^SIJGu]ILLIFSIGZQJGÛQ]QSILJGZIL`EJTIJGNESSIJcGDVIGO×LEJSILGKELIJGJYLGEOFGM[NESSIJGILXIJJ]ELc x]GIFGFV[NGPE]IVGYMGFRI^VIOOIGM[NYS^F[NVLMIGNEJPIOSI\GPVIGPYL[NGOIPEJXIJXLE`SGEXSVZVILSGKYLPIJ\GKYUSIGMEJJ×GJV[NS\GJENMGPVIFGE]ILGJE[NGEOOIM\GKEF FVIG]VFOEJTGTIFINIJGNESSI\GEOFGTITI]IJGEJc JLJIYSGKYLPIJGFVIGEJTITLV``IJ\GPQ[NGÜÝEVOEMGLIETVILSIGF[NJIOOcGPJGPVIFILGÙETIGILKVIFGFV[NGFIVJGPJFSVJXSGEOFGZQJGYJF[NNS^]ELIMGáQLSIVOcGMVIGZILNJPILSIJ VNLIJGMSEJPQLSGJYLGYMGKIJVTGMINLGEOFGNYJPILSGÜISILcGKOFGMEJJ×GIVJIGMRIV[NIL]EJXGYJSILGFV[NGFEN\GOVIUGFVIG]IVPIGLQM]IJGIVJ`E[NG`EOOIJc t PJJILNEO]GKIJVTILGMSYJPIJGFSIVTILSIGFV[NGPVIGáILKVLLYJTGPILGO×LEJSILG]VFG`EFSG^YLGßEJVXcGáQJGPIJGM[NNPIJGVJGPILGÚIJSLEOIGTEJ^G^YGF[NKIVTIJ\GKELGIVJI ÙY`SILJIYILYJTFEJOETIGEYFTI`EOOIJ\GPVIGTILEPIGPVIFIJGMIXSQLGZILFQLTSIcGDIMGOLEPGPILGÚILFSØLYJTGJE[NG^YGF[NOVIUIJ\GKbLPIJGPVIGÛIRELESYLEL]IVSIJ ISOV[NIGHQ[NIJGVJGKJFRLY[NGJINMIJcGJVJGWLE`SKILXG]LEJJSIcGDVIGJãROQFVQJGPQLSGNESSIJGPVIGTIFEMSIGÞMTI]YJTGVJGÜVSOIVPIJF[NE`SGTI^QTIJcGáILMYSOV[N KELGFQTELGNELSIGMSLENOYJTG`LIVTIKQLPIJc MEJJ×GFY[NSIGJE[NGÛEYMF[NV``NEJTELF\GZQJGPIJIJGEY[NGÜÝEVOEMGJV[NSGKYUSI\GKQGFVIG^YG`VJPIJGKELIJcGKOOMNNOV[NG]IFEUGFVIGTIJbTIJPGKJNEOSFRYJXSI\GYM ^YSLI``IJPIGLILI[NJYJTIJGEJ^YFSIOOIJcGDEFGIVJ^VTIGßLQ]OIMGPE]IVGKEL\GPIMGOIF[NE``IJIJGPVIGJLTI]JVFFIGFQG^YGILXONLIJ\GPEUGILGFVIGKVLXOV[NGZILFSEJP YJPGJV[NSGVMGOY`SOIILIJGÛEYMGMESILVEOVFVILSIcGPMMILNVJGMYUSIGMEJJ×GPVIFIGOI`ENLGIVJXEOXYOVILIJ\GÝIGJNNILGFVIGPIJGZILMYSOV[NIJGKYUIJ]I^VLXIJGXEMIJc MVIG `EJPIJG JV[NSG JYLG IVJIJG âEJTEL\G FQJPILJG MINLILIcG KY[NG NVILG RESLQYVOOVILSIJG ÛQ]QSIL\G PQ[NG TE]G IFG TIJbTIJPG áILFSI[XI\G ZQJG PIJIJG EYFG MEJ
]IQ]E[NSIJGXQJJSI\GQNJIGFIO]FSGTIFINIJG^YGKILPIJcGLIVGPIJGMIVFSIJGÛEYMF[NV``IJGNEJPIOSIGIFGFV[NGKQNOGYMGLIV]QQSIcGPNLIGOLØUIG]ISLYTGXEYMGMINL EOFGPLIVUVTGÜISILcGK]ILGTILEPIGFVIGMQ[NSIJGZQOORQFVSLQJVF[NGTIFSIYILSGFIVJc QDEGNVJIVJàÖ MEJJ×GF[NbSSIOSIGPIJGWQR`cGQRV[NSGÝIS^S\GÜÝEVOEMcGHVLGFQOOSIJG^YGYJFILIJGaLIYJPIJG^YLb[X\G]IZQLGFVIGYJFGILJFSNE`SGZILMVFFIJcÖGPJGPILG_ESG^IVTSIJGßQLXGYJP WVXGFV[NG^VIMOV[NGEY`TILITScGK]ILGJV[NS\GKIVOGFVIG]I`bL[NSISGNESSIJ\GPILGOIF[NE``IJIGYJPGMEJJ×GXØJJSIJGZQJGPIJGO×LEJSILJGb]ILKNOSVTSGKQLPIJGFIVJcGßQLXF LObSIJGNVJTIJGNEO]GZILSLQ[XJISGZQJGPIJGÚKIVTIJcGQP[NGFRbLIGIVJIGTLQUIGOI`ENLÖ\GKELJSIGILcGQDVIGJMQSVQJIJGZQJG_×ELGYJPGßLI^^ELGXØJJIJGJYLG]IPIYSIJ\ PEUGKJSV{JMGFV[NGJNNILScÖ QabLGIVJIJGWEMR`GMVSGVNMGFVJPGKVLGJV[NSGZQL]ILIVSISÖ\GILF[NLEXGMEJJ×cGQÜÝEVOEM\GPYGMYUSGYJFGFQ`QLSGEJGLQLPGIVJIFGPILGXOIVJIJGÛEYMF[NV``IG]LVJTIJcÖ
78 EFGHIJHGKLLMFGHLKNNGOGPQGHLKNNRGSIMGTIUGVMILWQXIHGVMYMZUNM[G\VS]^LG_MZG`KJHKZGaVMZSKb^NGSQZ_M[GcIMYKJ_GFb^IMJGMFGXaZGJdNIHGPQGMZKb^NMJRGKQb^G_IMGeb^IXXM IJG_IMGT]JNZ]LLMJGYINMIJPQVMPIM^MJ[ fIMGeb^KLNQJHMJRG_IMGeKJJgGh]ZXKJ_RGSKZMJGUMIJMFSMHFGXZMY_KZNIH[GiKFb^G^IJNMZMIJKJ_MZGKUNIhIMZNMGFIMGMIJMGiMI^MGh]JGjIL_Fb^IZYMJRG_IMGkQFFb^JINNMG_MZ lYHMVQJHGSIM_MZHKVMJ[GcQZGMIJGMIJPIHMZGmIL]NMJFMFFMLGSKZGh]Z^KJ_MJ[GfIMGn]LKKNIJGYQoNMGFIb^GKQXG_IMGeINPXLWb^MGFNMLLMJRGQYG_IMGT]JNZ]LLMJGaVMZ^KQKN PQGMZZMIb^MJ[GcKb^GMIJIHMJGnIJQNMJGIJNMJFIhMZGjMNZKb^NQJHGJIbUNMGFIMGPQXZIM_MJ[G!"IZGUdJJMJGFNKZNMJGQJ_GF]HKZGIJG_MJG#IJMKZZKQYGaVMZNZMNMJRG]^JMG_KoGMF PQGT]YKLIUKNI]JMJGU]YYMJGSIZ_[GfIMGm]FINZ]JIUGaVMZSKb^NGFWYNLIb^MG$LQHYKJdhMZ[% !n&KILKYGVLMIVNG^IMZ%RGVZQYYNMG_MZG'MFb^KXXMJMGYIoYQNIH[ EIJGSIFFMJ_MFG#Wb^MLJG^QFb^NMGaVMZGeKJJgFG(aHM[G!fKJJGSILLGIb^G_IZGMNSKFGPMIHMJRGSKFG_Ib^GhIMLLMIb^NGQYFNIYYMJGSIZ_[% eIMGKUNIhIMZNMG_MJGTKZNMJNKJUGQJ_GKZ]&IPIMZNMG_IMGKFNZ]J]YIFb^MJGkQXJK^YMJGaVMZGMIJGHZ]oMFG`]L]HZKYYRG_KFG_IMGHMFKYNMGeNIZJSKJ_GMIJJK^Y[Gn&KILKYF kQHMJGSQZ_MJGHZdoMZRG&MGLWJHMZGMZG_IMGhIMLXWLNIHMJGeNMZJVIL_MZGVMNZKb^NMNM[GjMSQoNGPMIHNMGeKJJgGI^YGJQZGkQXJK^YMJG_MZG'KLK)IFG$KZgJN[ !fKF%RGFKHNMGFIMRG!IFNG_MIJMG`MIYKN[GfQGSQZ_MFNGHMFb^KXXMJRGQYGFIMG_IZGPQZabUPQ^]LMJ[% eIb^NLIb^GVMZa^ZNRGYKb^NMGn&KILKYGMIJIHMGeb^ZINNMGh]ZSWZNF[GlJYINNMLVKZGh]ZG_MYG`]L]HZKYYGVLIMVGMZGFNM^MJGQJ_GFNZMbUNMG_KJJGVLINPFb^JMLLG_IMGkZYMGKQF[ eMIJMG`WJ_MGFb^L]FFMJGFIb^GQYGMIJMJGULMIJMJGTQHMLFNMZJ^KQXMJRG_MZGIJG_MYFMLVMJGn]YMJNGKQFG_MZGmZ]&MUNI]JGhMZFb^SKJ_[Gn&KILKYGUJQZZNMGHMZMIPN[ !*b^GVMZMINMG_MJGeNKZNGh]Z%RGZIMXGeKJJg[G!+MGM^MZGSIZGhMZ[[[% EIJMG _Zd^JMJ_MG eNIYYMG QJNMZVZKb^G FIM[G `IJNMZ^MZG SQoNMG JIMYKJ_G PQG FKHMJRG ]VG MZG _IMG "]ZNMG SIZULIb^G hMZJ]YYMJG ^KNNMRG ]_MZG ]VG FIMG JQZG IJG FMIJMJ 'M_KJUMJGHMHMJSWZNIHGHMSMFMJGSKZMJ[ cIMYKJ_GX]Z_MZNGYIb^GQJHMFNZKXNG^MZKQF[G!kJNI,Ee-% fIMG'gZKJNMZG^KVMJGYIb^GHMZQXMJ[GeIMGFK^MJG_IMGE)IFNMJPG_MFGcKVMLFGVM_Z]^N[G!"IZGFNKZNMJ.%GeKJJgFGPIMZLIb^MG$IJHMZG^QFb^NMJGaVMZG_IMGT]JNZ]LLMJ[G`]b^ aVMZG_MYGeb^IXXGXLIYYMZNMG_IMG/XXJQJHGMIJMZGMJMZHMNIFb^MJGeNKZNZKYKM0G_IMGn]LKKNIJGU]JJNMGJQZG^]XXMJRG_KoGFIb^G_IMGkQoMJFb^LMQFMGZMb^NPMINIHGdXXJMNM[ f]b^GFb^LKHKZNIHGMZFNKZVG_KFG"IYYMZJG_MZGkJNZIMVFKHHZMHKNM[G'MIFNMZ^KXNMG#Ib^NMZFb^MIJQJHMJGVZKb^MJGKQFG_MJG"WJ_MJG^MZh]ZRGSW^ZMJ_G_IMGi]V]NMZ VMZMINFGVMHKJJMJRGFIb^GYING"KXXMJHMSKLNG(QHKJHGPQYGeb^IXXGPQGhMZFb^KXXMJ[GfKFGHLMIoMJ_MG#MQb^NMJGhMZ_Ib^NMNMGFIb^GPQG_MJGlYZIFFMJGMIJMZG^QYKJ]I_MJ 'MFNKLNRG _IMG FMLVFNG _IMG eb^KLNKQLNMG QJHM^IJ_MZNG _QZb^_ZKJH[G nMJNKLMFG 'MLWb^NMZG VZKJ_MNMG KQX[G eKJJgG FKaZNMG MIJMG XLab^NIHMG jMZa^ZQJHG IYG cKbUMJRG IY JWb^FNMJGn]YMJNGXKJ_GFIMGFIb^GYING_MJGKJ_MZMJGPQFKYYMJGIJG_MYGKLNMJRGFNIbUIHMJGeN]LLMJGSIM_MZ[ 1 !"KZQYGVZIJHFNG_QGQJFGKQFHMZMb^JMNG^IMZ^MZ-%GSKJ_NMGFIMGFIb^GKJGn&KILKYRG_MFFMJG(aHMGJMVMJGNIMXMYKXQJ_MJMYG(]ZJGMIJMGHM^dZIHMGm]ZNI]JGcMQHIMZ_M SI_MZFKIMHMLNMJ[G!"IZG_aZXMJGQJFGJIb^NGhMZUZIMb^MJ[% fMZG'MFb^KXXMJMGKJNS]ZNMNMGJIb^N[ "KZQYGhMZFQb^NGI^ZGPQGXLIM^MJ-GfIMFYKLGULKJHG_IMGYMJNKLMGeNIYYMGLKQNMZGKLFGPQh]Z[G*b^GSMZ_MGMQb^GJIb^NGNdNMJRG_MJJGIb^G^KVMGjMFFMZMFGYINGMQb^Gh]Z[ !fKGIFNGMNSKFGhdLLIHG$ZMY_MF%RGFNd^JNMGm]ZU[G!EFGIFNG_KGQJ_G_]b^GSIM_MZGJIb^N[%GEIJG2b^PMJG_ZKJHGKQFG_MYG$MLF[G*JGeMUQJ_MJFb^JMLLMGMJNFNKJ_MJGFIb^ KQFSMINMJ_MG iIFFM[G m]ZUG Fb^ZIMG KQX[GkJFNKNNG _MJG JdNIHMJG UdZKMZLIb^MJG T]JNKUNG PQG n&KILKYG ^MZPQFNMLLMJRG NKQYMLNMG MZG h]JG _MJG $ZMQJ_MJG X]ZN[G *JG FMIJMJ 'M_KJUMJGX]ZYNMJGFIb^GLWJHFNGhMZHMFFMJGHMHLKQVNMGjIL_MZRGMZGFK^GMIJMJGjMZHGKQXVZMb^MJGQJ_GMIJMGHKJPMGeNK_NGQJNMZGFIb^GVMHZKVMJ[GeMIJMGeNK_NRGIJG_MZ MZGQJ_G3MHKGHMLMVNG^KNNMJ[G!m]ZU.%GZIMXGeKJJg[GEZG^dZNMGFIMGJIb^NRGKVMZGFIMGFK^GMIJMJG$MLFVL]bUGFIb^GKQFG_MZGfMbUMGLdFMJ[GkLFGFIMGJ]b^GMIJYKLGFMIJMJ cKYMJGZIMXRG_ZM^NMGMZGFIb^GLKJHFKYGPQGI^ZGQY[GeMIJGeM^KFNGZIb^NMNMGFIb^GIJG_IMG`d^M[GeNKQVGQJ_GL]bUMZMFG'MZdLLGZIMFMLNMJG^MZKVRGQJ_G&M_MJGn]YMJNGU]JJNM _MZGN]JJMJFb^SMZMG$MLFGI^JGPMZFb^YMNNMZJ[ !T]YYGPQZabU.%GVZaLLNMG_IMGn]LKKNIJ[Gm]ZUGSKJ_NMGFIb^GSIM_MZGKV[ !n&KILKYRG _QG YQoNG I^JG [[[%G EFG SKZG PQG FKWN[G EZFb^aNNMZNG Fb^L]oG eKJJgG _IMGkQHMJ[G *JG _MZG UQZPMJG (MINRG _IMG FIMG I^JG UKJJNMRG SKZG _MZG nQLNIG I^ZG KJFG `MZP HMSKb^FMJ[ fIMGEZFb^aNNMZQJHMJGJK^YMJGKJGeNWZUMGPQ[GEIJG_QYKXMFG'Z]LLMJG_QZb^LIMXG_MJG'KJHRGIJG_MFFMJG"WJ_MJGFIb^GIYYMZGYM^ZGiIFFMGVIL_MNMJ[ *^ZGUdJJNGYIZGJIb^NGMJNU]YYMJRG_Zd^JNMG_IMGeNIYYMGh]JGkJNI,EeGIJGI^ZMJG'M_KJUMJ[G!T]YYG^MZGQJ_GUWYKXMGOGPMIHMG_Ib^RG_QG$MIHLIJH.%Gn&KILKYGMZHZIXX eKJJgFG `KJ_G QJ_G MIJMJG h]JG TIUFG 3MJNKUMLJG QJ_G hMZFMNPNMG FIb^G YING I^JMJG IJG IZHMJ_MIJMJG iKQYRG _MZG S]^LG PQG _MJG lJNMZUaJXNMJG _MZG 'gZKJNMZG HM^dZNM[ IMLLMIb^NG^WNNMJGFIMGFIb^GMIJMG(MINLKJHG^IMZGhMZVMZHMJGUdJJMJRGKVMZGn&KILKYGFb^IMJGMJ_LIb^GMIJHMFM^MJGPQG^KVMJRGS]ZKQXGMFGKJUKY[GeMUQJ_MJGFKWNMZ FNKJ_MJGFIMGJWYLIb^GSIM_MZGIJGMIJMYG_MZG`KJHKZF[G(QYIJ_MFNGIJG_MZGQJYINNMLVKZMJGcW^MGVMXKJ_MJGFIb^GUMIJMGi]V]NMZ[G!"MLb^MFGeb^IXX-%GS]LLNMG_MZ 'MFb^KXXMJMGSIFFMJ[ eKJJgG_MQNMNMGKQXG_KFGI^JMJGKYGJWb^FNMJGFNM^MJ_M[ !eIMGFIJ_GKLLMGHLMIb^[% jMh]ZGn&KILKYGMZJMQNGMIJMG\ZNFhMZWJ_MZQJHGh]ZJM^YMJGU]JJNMRGXLKYYNMGMIJGFNKZUMZGEJMZHIMFb^IZYGKQXRG_MZG_MJG^KLVMJG`KJHKZGKVZIMHMLNM[ EIJGQJSIZULIb^MFG#Kb^MJGMZNdJNM[
"KZQYGFM^NGI^ZGJIb^NGMIJRG_KoGI^ZG_KFGeKIMLGhMZL]ZMJG^KVNi]V]NMZGFb^SMVNMJG^MZKJ[G*^ZMG"KXXMJGSKZMJGKUNIhIMZNRGKVMZGFIMGFb^]FFMJGJIb^N[G"]LLNMGkJNI,EeGeKJJgRGTIUGQJ_Gn&KILKYGKLFG'MXKJHMJMG^KVMJfIMGn]LKKNIJGMZUKJJNMGI^ZMGMIJPIHMG^KJbM[G!jZIJHMGQJFGIJFG"KXXMJLKHMZ.%GX]Z_MZNMGFIMG_MJG'MFb^KXXMJMJGKQX[
fMZG `KJHKZG hMZFb^SKJ_G h]ZG I^ZMJG kQHMJRG eMUQJ_MJVZQb^NMILMG FKWNMZG YKNMZIKLIFIMZNMG FIMG KJG HMJKQG _MZFMLVMJG eNMLLMG SIM_MZ[G eKJJgG MYKXKJ_G UMIJM
eb^YMZPMJRGJQZGMIJG'MXa^LGHZMJPMJL]FMZGEJNNWQFb^QJH[GfIMG'gZKJNMZG^KNNMJGeKMZZMJGMZZIb^NMNRGHMHMJG_IMGn&KILKYGPQYIJ_MFNGh]ZMZFNGJ]b^GYKb^NL]FGSKZ[
\_MZGSKZGKQb^G_IMFG_KFG"MZUGh]JGkJNI,Ee!kLLMIJGUKJJFNG_QG_Ib^GIJGeIb^MZ^MINGVZIJHMJ%RGHKVG_IMGn]LKKNIJG_MYG'MFb^KXXMJMJGPQGhMZFNM^MJ[
!*b^GVLMIVMGVMIGMQb^[%
!fQGYQoNGHM^MJ.%
!*b^GUKJJGJIZHMJ_S]^IJ[G`IMZGIFNGYMIJMG`MIYKN[%
!fMIJMG`MIYKNGIFNG$KZgJN%RGXQ^ZGeKJJgGKQX[G!fQGVIFNGMIJG3MILG_IMFMZG'KLK)IF[GjMHIVG_Ib^GKQXGI^ZMG"MLNMJRGFIM^G_Ib^GQYRGJQJRG_KG_QG_MIJMJGSIZULIb^MJG$MIJ_
UMJJFN[GcQZGSMJJG_QGIJGjKZF,,jKZFG*JX]ZYKNI]JMJGFKYYMLFNRGUKJJFNG_QGMIJMFG3KHMFGHMHMJGI^JGKJNZMNMJ[%G!*b^GhMZFNM^MGJIb^NG[[[%
!'M^.%GFb^ZIMG_IMGn]LKKNIJGI^JGKJ[G!'M^RGSMJJG_QG_MIJMYGeb^dKXMZGmZMPPKZGVMIFNM^MJGSILLFN[%
fIMG3MJNKUMLGPSMIMZGi]V]NMZGQYFb^LKJHMJGI^ZMGkZYMGQJ_GSIbUMLNMJGFIb^GF]GMJHGQYGI^ZMJGjZQFNU]ZVRG_KoGFIMGHLKQVNMRGMZFNIbUMJGPQGYaFFMJ[GkQb^GTIUGQJ_
n&KILKYGMZHIJHGMFGJIb^NGVMFFMZ[GeM^JFQb^NFh]LLGVLIbUNMGeKJJgGPQG_MYGiKQYFb^IXXG^IJaVMZRG_KFGXaZGFIMGJQJGQJMZZMIb^VKZGHMS]Z_MJGSKZ[
kLFGFIMG_MJGjLIbUGSIM_MZGFMJUNMRGSKZGn&KILKYGhMZFb^SQJ_MJ[GlJ_GYINGI^YG_IMGi]V]NMZRG_IMGI^JGXMFNHM^KLNMJG^KNNMJ[
1 fIMGlJHMSIo^MINGSKZG_KFGeb^LIYYFNMGIJG_IMFMZGeINQKNI]J[GfIMGi]V]NMZGhMZ^KZZNMJGKQXG_MZGeNMLLMRGSMILGFIMG]XXMJVKZGUMIJMGjMXM^LMGXaZGI^ZGSMINMZMFG]ZHM^MJ VMFKoMJ[ !"KZQYGVZIJHNGI^ZGQJFGJIb^NGHLMIb^GQY-%GFNd^JNMGTIUGQJNMZG_MYGQJVKZY^MZPIHMJG'ZIXXG_MZGnKFb^IJMJ[G!fKJJG^WNNMJGSIZGMFGSMJIHFNMJFG^IJNMZGQJF[% *b^GSILLGMQb^GJIb^NGNdNMJRGMZULKJHGMFGFKdNNIFb^[G"MF^KLVGKLF]G_IMFMGlJHM_QL_.GMZHMVLIb^GVWQYNMGTIUGFIb^GKQX[GEZFNGKLFGMZGeKJJgFGYINLMI_IHMJGjLIbUGKQXGFIb^ ZQ^MJGXa^LNMRGVMZQ^IHNMGMZGFIb^GMNSKF[ *JG(QUQJXNGSMZ_MNGI^ZGYMIJMGfIMJMZGFMIJ.G!cMIJ.%GFb^ZIMGTIU[G!cIMYKLFGSMZ_MJGSIZG_KFG[[[%G*JGFMIJMYGeb^W_MLGFb^IMJGMIJMGHZMLLMGe]JJMGPQGM)KL]_IMZMJR QJ_GMZGhMZL]ZGh]ZaVMZHM^MJ_G_IMGjMFIJJQJH[ kLFGMZGSIM_MZGPQGFIb^GUKYRGSKZMJG_IMGi]V]NMZGhMZFb^SQJ_MJ[G"IMGMIJGVdFMZG3ZKQYGLKFNMNMG_KFG'MFb^M^MJGKQXG_MYGLK^ZMFMZ0GKLdNPLIb^GSKZGMZGFIb^GJIb^N MIJYKLGYM^ZGFIb^MZRGSKFG"IZULIb^UMINGSKZ[G+W^GZIb^NMNMGMZGFIb^GKQXRGIYGFMLVMJGn]YMJNRGIJG_MYGKQb^GeKJJgGFIb^GMZ^]V[ !"]GFIJ_GFIMG^IJ-%GXZKHNMG_IMGn]LKKNIJ[GeMLNFKYRG_QZb^PQbUNMGMFGTIU[G'MJKQG_KFFMLVMGS]LLNMGIb^GKQb^GMVMJGSIFFMJ[GEZG^]VGPSMIGkZYMGQJ_GUZKNPNMGFIb^ KYGT]KX[GeKJJgGh]LLXa^ZNMG_IMFMLVMGjMSMHQJH[G!"KFGIFNGHMFb^M^MJ-%GFKHNMJGVMI_MGSIMGKQFGMIJMYGnQJ_GQJ_GFNKZZNMJGFIb^GMJNFMNPNGKJ[GeKdNNIFb^MF 'MLWb^NMZG^KLLNMGh]JGKLLMJGeMINMJGSI_MZ[ *^ZGFMI_GJQJGYMIJMGfIMJMZRGFMI_GPSKZGWQoMZLIb^G_IMGKLNMJRG_]b^GIJJMZLIb^GMIJFGQJ_GUdJJNGJQZGYM^ZGMJHGPQFKYYMJG^KJ_MLJ[G*b^G^KVMGMQb^G_MJGMIHMJMJ "ILLMJGHMJ]YYMJGOG_KXaZGHMVMGIb^GMQb^GMIJMJGkQXNZKHGMZ^IJ_MZNRG_KoGMFGPSIFb^MJGjMJMNMZL]HMJGQJ_GkJNMZXMZZKJNMZJGPQYG$ZIM_MJFFb^LQoGU]YYN.G*b^ _MJUMRGIb^GUKJJGYIb^GKQXGMQb^GhMZLKFFMJ[G!fKFGUKJJFNG_QRGkJNI,Ee%RGFKHNMGTIU[GeKJJgGJIbUNMGFNQYY[
89 PQRSTRUVWXYZT[\U]RUX^SSTU^__TVU`TRZWXSTS\Uab^RZUTRc^ddSTU^__TReZd[VfUYQgZSUTRUVZWXUZdUVTZdTdUhTe^dcTdU`TVWXijSZ[ST\UkZTU]RliX_md[UX^SSTUnmdeTdUZdUZXg ^mj`RTWXTdU_^VVTdfUoQdUeTdTdUTRU`ZV_^d[UVT_`VSUdZWXSVUYmKST\UL__giX_ZWXU`T[^ddUTRUVZWXUlmUTdSVZddTdfUY^VUVTZdUMT`TdU`TVSZggSUX^SSTfU`ToQRUnN``TcZd[O P^RQRQdUVZWXUVTZdTRU^dd^Xg\ ab^RZUY^RjULS_^dUTZdTdU`TeTmSmd[VoQ__TdUR_ZWcUlm\USTZSUTZdmSTdUX^SSTUPQRSTRUVTZdTUhTVS^_SUVWXQdUdZWXSUgTXRUoTRideTRS\ UPQWXU[Z`SUTVUcTZdTdUVWX_VVVZ[TdURTYTZVfU^`TRUZWXU`ZdUV`TRlTm[SUe^oQdfUe^KUTRUPQRcVUTRVSTRUL`_T[TRUZVS\W kTRULRcQdZeTUdZWcSTUlN[TRde\USTZdU]XSR^VZddUVZ[d^_ZVZTRSTUhTj^XR\U]RU`TgTRcSTfUe^KUab^RZUVZWXUY_NSl_ZWXUoTRVSTZjSTUmdeUTZdTdUPmdcSUjZXZTRSTfUeTRUmdgZSST_`^R XZdSTRU ZXgU _^[\U PQRSTRU YQ__STU oQdU VTZdTgU P_^SlU ^mjVSTZ[TdfU eQWXU TZdU j_ZggTRdeTVU ]dTR[ZTjT_eU XZdeTRSTU ZXdU e^R^d\U ZdVSZdcSZoU lmWcSTULS_^dVU [TWXSTU lmg SSR^X_TR\ UM^KUeZTUn^jjT\WUTRc_^d[UTVUVWX^Rj\UUnZRUVZdeUdZWXSUYT[TdUeZRU[TcQggTdU]UdQWXUdZWXS\W ]RUc^ddSTUeZTUSSZggT\U[mWc^RSZ[UXTRmgj^XRTdefURZKUTRUVTZdTdUSSR^X_TRUXQWXUmdeUeRVWcSTU^`\U]RUYmKSTfUdmRUYTddUTRUS^ddbUmdeU^ZcU_iXgSTfUYVReTUTRUVZTU^d eTRU[VWccTXRUlmULdSZO]SUXZdeTRdUcNddTd\UkZTU]dSVWXTZemd[UjZT_UZXgUdZWXSUVWXYTR\U_`TRR^VWXSUY^RUTRUdmRUe^oQdfUe^KU`TZeTU_TeZ[_ZWXU^_VUSWX^SSTdUoQRUZXg VS^deTd\U]`TdVQUYZTUeZTUhbR^dSTRUY^RTdU^mWXUVZTUmdoTRYmde`^RU[TYQReTd\ S^ddbUmdeU^ZcU_^WXSTdUXTZVTR\
UkmUc^ddVSUmdVUdZWXSVU^dX^`Td\Uh_^m`VSUemfUTZdUVQUgiWXSZ[TVUnTVTdUYZTULdSZO]SU_iKSUVTZdTU`RTmdeTUQXdTUSWXmSlaW
Un^VUYQ__SUZXRaW
U^^ddVSU emU eZRU e^VU dZWXSU eTdcTdaWU UPQRSTRaWU VSZTKU ab^RZU XTRoQR\U bm[_TZWXU VWXQKU VZTfU ^`TRU ^mWXU eTRU h_mSVSR^X_U ^mVU ZXRTRU n^jjTU cQddSTU eZTU [TZVSZ[
^dTZd^deTR[TcTSSTSTdUS^ddbcZcUdZWXSUoTR_TSlTd\
UZXRUVTZeUP^RRTd\UbZTXSUTmWXUgZSUeTRUScMU^mVUR^RVOdOR^RVUlmRVWcfUQeTRUZXRUYTReTSU^__TV^gSUmgcQggTd\ULdSZO]SU_iKSUVZWXUdZWXSUZdUeZTU]d[TUSRTZ`Td\W
PQRSTRUVWXRZTU[T__TdeU^mj\Uk^VU]dTR[ZTjT_efUZdUeTgUTRU[Tj^d[TdUY^RfUoTReZWXSTSTUVZWX\ULS_^dUVSVRlSTUVZWXU^mjU^ZcfUeTRUe^VU`TSRTjjTdeTUSSTmTR[TRiSU`TeZTdSTf
eQWXUR^ddSTUTRU[T[TdUTZdTUmdVZWXS`^RTUT^mTRfUeZTUZXgUeZTU`VKTUmdSTRUeTgUMTZ`UYT[RZKUmdeUZXdUVSVRlTdU_ZTK\Ue^_`U`TdQggTdUV^XUTRfUYZTUPQRSTRUVZWX ^mjlm_NVTdU`T[^dd\Un^VUoQdUZXgU`_ZT`fUY^RUdmRUTZdTUVZWXUSRi[TU^mVeTXdTdeTU[^mWXYQ_cT\UUnZRUX^`TdUeZWXU[TY^RdSWfUV^[STUS^ddb\UUfTR_^KSUR^RVOdO R^RV\W SQUmdoTRXQjjSUYZTUVZTUmdeU^ZcUTRVWXZTdTdUY^RTdfUoTRVWXY^deTdUVZTU^mWXUYZTeTR\
g
kmUcTddVSUhTSlSUeZTUhTj^XRfUR^mdSTUeTRU]XSR^VZdd\Un^VU[TeTdcVSUemUlmUmdSTRdTXgTdaUUkZTUP^`T_VS^SZQdTdU`Z_eTdUeTdUSWX_VVVT_UlmRUP^gTd_QVTdUbQdT\W
idYZ__cVR_ZWXUVYR^WXULS_^dUVTZdTU_`TR_T[md[TdU_^mSU^mV\UUnZRUYTReTdUmdVUmg[TXTdeU^mjUeZTUSmWXTUg^WXTd\WUUkmUYZRVSU^_VQUdZWXSUSmdfUY^VULdSZO]SUemRWX
S^ddbcZcUoQdUeZRUoTR_^d[SUX^SaWUYQ__STUab^RZUYZVVTd\
LS_^dU`_ZWcSTUVZTUV`TRR^VWXSU^d\
UnZTUcQggVSUemUe^R^mjaUe^VSUemUYZRc_ZWXU[T[_^m`SfUZWXUcNddSTUhTg^deTdUZgUSSZWXU_^VVTdfUeTRUgTZdTUeZ_jTU`TdNSZ[SaW
kZTU`R^mUVWXVRlSTUeZTUMZYYTd\
UZWXWfUV^[STUVZTUgZSUTZ[Td^RSZ[TRURTSQdmd[fUU`R^mWXTUeTZdTUeZ_jT\W
`_VWXSZ[Uj^deTdUVZWXUZXRTUR_ZWcT\UniXRTdeUab^RZUZXdU`TZd^XTUXTR^mVjQReTRdeU^dVS^RRSTfUY^deSTUTRUVZWXUoTRYZRRSU^`\
kTRU]XSR^VZddU_ZTKUTZdU_TZVTVfU^gVVZTRSTVUM^WXTdUoTRdTXgTd\
n^RmgU[TVSTXVSUemUTVUdZWXSUTde_ZWXUTZdfULRcQdZeTa
Un^VaWUTRYZeTRSTULS_^dUXTjSZ[\
R^R`^R\
UnTddUemUgZWXU`R^mWXVSfU`ZdUZWXUjVRUeZWXUe^WfU[^`UTRUeTRU`R^mUlmUoTRVSTXTd\UUZWXUYZ__UeZWXUdZWXSUoQdUeTZdTgUfQRX^`TdU^``RZd[Td\UkZTUP^`T_VS^SZQdTdUVZde
jVRUmdVU^__TUoQdU[RQKTRURTeTmSmd[\WUZXRTUSSZggTUoZ`RZTRSTUc^mgUgTRc_ZWX\UUL`TRUZWXUYTReTUgTZdTdUTZ[TdTdUnT[U[TXTd\W
bN[TRdeUY^deSTULS_^dUVZWXUZXRUlm\USTZdUhTVZWXSU`_ZT`Umd`TYT[S\
Un^VUX^VSUemUoQRaWUYQ__STUTRUYZVVTd\UUZWXUYTZKUdmdUTZdeTmSZ[fUe^KUab^RUmdeUPRTll^RUdQWXUTXZVSZTRTd\U`VRUgZWXUZVSUe^VUYZWXSZ[TRU^_VUoZT_TVU^deTRT\W
cXdTUTZdTUYTZSTRTU]Rc_iRmd[UoTR_ZTKUVZTULS_^dVU^^`ZdT\UkTRULRcQdZeTU`_ZWcSTUZXRUXZdSTRXTRfU`ZVUe^VUSWXQSSUVZWXUYZTeTRU[TVWX_QVVTdUX^SST\U]RVSUe^ddU[Zd[UTR
lmgUZdSTRcQgfU^`TRUTRUlN[TRSTfUeZTUfTR`Zdemd[UlmURRTWcWRQYdUe^bTVUXTRlmVST__Td\U]ZdTUnTZ_TUR^d[UTRUgZSUVZWXUVT_`VSfUVWX_ZTK_ZWXU_ZTKUTRUVZWXU^mjUVTZdURTSS j^__TdfUoTRVWXRidcSTUeZTULRgTUXZdSTRUeTgU^QYjUmdeUVS^RRSTUeZTUkTWcTU^d\UbmUoZT_TVUYZR`T_STUZdUVTZdTdUhTe^dcTdUemRWXTZd^deTR\U]RUYVReTUab^RZUYTeTR `TQ`^WXSTdUdQWXUoTRjQ_[TdU_^VVTdfUYZTUTRUTVUoQR[TX^`SUX^SST\UZXgUY^RUTRVSUhTSlSUc_^RU[TYQReTdfUe^KUVZTUZXgUgTXRU`TeTmSTST\ kmU_ZT`VSUVZTfUVST__STUeTRUMQ[ZcVTcSQRU^gVVZTRSUjTVS\
g LS_^dUgmKSTUYQX_UTZdTUX^_`TUSSmdeTU^__TZdU[TYTVTdUVTZdfU^_VUTRUhiXU^mjVYR^d[\UkZTUcmRlTU[mXTUX^SSTUZXgU[mS[TS^dfUTRUjVX_STUVZWXUjRZVWXUmdeU^mV[TRmXS\Uide ZR[TdeYZTUTR_TZWXSTRS\Uab^RZfUVQU[_^m`STUTRUdmdUlmUYZVVTdfUSTZ_STUVTZdTUhTjVX_T\ kZTU dTmU [TYQddTdTdU ]RcTddSdZVVTU YmReTdU ZdU S]P]jLU [TVYTZWXTRS\U kTRU eZ[XU SZeTRbSU _ZTKU SS^RSoQR`TRTZSmd[TdU SRTjjTdU mdeU ZdjQRgZTRSTU VQYQX_U eZT nZVVTdVWX^jS_TRU^_VU^mWXUe^VUcRSmd[VYTRVQd^_\U]VU[^_SfUmd`Tc^ddSTUSS^SZQdTdUZgUZddTRdUoQdUTQdeTdUmdeUP_^dTSTdU^mVjZdeZ[UlmUg^WXTdfUY^VUemRWX^mV gZSUeTRU`TRVXgSTdUSmWXTUd^WXUeTRUP^eT_UZgUeTmX^mjTdUoTR[_TZWX`^RUY^R\ULS_^dVUfQRX^`TdfUeZTUScMUZdUZXRTRUhTV^gSXTZSUYTZS[TXTdeU^mVUeTgUhTVWXTXTd XTR^mVlmX^_STdfUTRYZTVUVZWXUTZdg^_UgTXRU^_VUmdemRWXjVXR`^R\ g ab^RZU X^SSTU eZTU ScMU gZSU TZdTgU h_TZSTRU oTR_^VVTd\U ZXRTU L`VZWXSU Y^RU TVfU ab^RU mdeU PRTll^RU lmU `TjRTZTd\U L`TRU e^lmU Y^RU VZTU ^mjU eZTU eZ_jTU oQdU Th^Z_^g ^d[TYZTVTd\ SZTUVmWXSTUTZdTUTZdV^gTUnVVSTUZdUeTRUklm^SQR[T[TdeUoQdULdSTRjU^mj\UkQRSfUYQUdZWXSVU^deTRTVUY^RU^_VUeZTUmd`T_T`STUP^SmRUeTVUP_^dTSTdfURZTjUVZTUeTd hTVWX^jjTdTd\UZXRTUhTe^dcTdU[RZjjTdUXZd^mVUZdUeZTUTde_QVTUSWXYiRlTUeTVUL__V\ SSmdeTdUoTR[Zd[Td\Uab^RZUV^XU[^mgVWXZjjTfUYZdlZ[TdUSSTRdTdU[_TZWXfUXQWXUV`TRUVZWXUe^XZdlZTXTd\ U`RZKUab^R\WUTRc_^d[UTVUY_NSl_ZWXUXZdSTRUZXR\USZTUY^RjUVZWXUXTRmgfUcQddSTUTh^Z_^gVULd[RZjjUhTeQWXUdZWXSUgTXRU^mVYTZWXTd\UhTgTZdV^gUVSVRlSTdUVZTUZdUeTd ^mjYZR`T_deTdUXTZKTdUnVVSTdV^de\Uab^RZUV^XUTh^Z_^gVUoTRlTRRSTVUhTVZWXSUeZWXSUV`TRUVZWXfUVTZdTUeideTUS^VSTSTdUd^WXUZXRTgUe^_V\ UnZRUVZdeUcTZdTU`TZdeTWfUVSZTKUVZTUTdSVTSlSUXTRoQR\ kTRUhTVWX^jjTdTU[RmdlST\UZR[TdeYZTU[T_^d[UTVUZXRfUVTZdTgUhRZjjUlmUTdScQggTd\UTZSU^__TRUnmWXSURZKUVZTUZXRTU^dZTUXQWXfU^`TRUTh^Z_^gUS^mgT_STUdmR\USZT Yi_lSTUVZWXUXTRmgfUmdeUVZWXU^mjRZWXSTdefURZKUVZTUZXRTdUSSR^X_TRUXQWX\UZXRUhT[dTRUXZT_SUgZSSTdUZdUeTRURTYT[md[UZddT\UU^ZcUmdeUS^ddbUVZdeUZdUeTRUhTY^_SUoQd LdSZO]SWfUVSZTKUVZTUX^VSZ[UXTRoQR\UUnZ__VSUemfUe^KUTVUmdVUT`TdVQUTR[TXSaW UnQXTRUYTZKSUemU\\\aW UnZRUgVVVTdUlmV^ggTdX^_STdfUTh^Z_^g\U]RZddTRTUeZWXUe^R^dfUY^VUS^ddbU[TV^[SUX^S\UkTZdUYZRc_ZWXTRU`TZdeUZVSULdSZO]SfUdZWXSUab^RfUmdeUemUVQ__STVSUeZT RTeTmSmd[UeTZdTVUP^gTdVUdmRU^_VUmeTRU_TSlSTUfTRVmWXnUVTXTd\U]dSSimVWXTUPRTll^RUdZWXS\W ]VUe^mTRSTU_^d[TfU^`TRUgZSUeZ_jTUZXRTVUoQdUPQRSTRUTRX^_STdTdUnZVVTdVUcQddSTUVZTUTh^Z_^gUV`TRlTm[Td\ k^ddURZTjUVZTUd^WXULV[^RefUeTRUV`TRUeTRUnVVSTUTRVWXZTdfU^_VUeZTUSQddTU`TRTZSVUXZdSTRUeTdUkVdTdUoTRV^dc\USTZdTUc`TRj_iWXTUY^RUoQdUTZdTgUTZdSNdZ[Td hR^mfUj^VSUQXdTUTmVSTRUmdeUbTZWXdmd[Td\Uab^RZUVYVRSTUY_NSl_ZWXU^mWXUeZTUPiXTUeTdcTdeTRUnTVTd\UUhbR^dSTR\WUR^mdSTUVZTUTh^Z_^gUlm\Uk^VUcQddSTUdmR `TeTmSTdfU e^KULV[^ReU T`Tdj^__VU cTZdTdU TZ[TdTdU nZ__TdU gTXRU `TV^KfU mdeU e^KULdSZO]SU ZXRTUL`VZWXSTdU lmgZdeTVSU ^XdST\U Th^Z_^gU oTRVS^deU ^mWXU QXdT nQRSTfUY^RmgUVZTUZXRTUn^jjTU^mjUMiXgVSR^X_TdUmgVWX^_STST\ ]RUd^XgUZXRTUe^defU^_VUe^VUQR[^dZVWXTU[^mgVWXZjjUVZWXU^dVWXZWcSTfUTZdZ[TUTTSTRUTdSjTRdSUdZTeTRlm[TXTd\UZgUVT_`TdULm[Td`_ZWcUVS^deTdUVZTUZgUZddTRdUeTR eQX_cm[T_fUmdeUab^RZUVWXQKU`_Zde_Zd[VUmgUVZWX\UkZTUhbR^dSTRUYmReTdUe^oQdUoN__Z[UV`TRR^VWXS\ UhmSWfU_^WXSTUTh^Z_^gfU^_VUeZTUjVdjUTiddTRUlmV^ggTd`R^WXTd\UUk^VUY^RUmdVTRUTRVSTRUSZT[\W UeQjjTdS_ZWXUdZWXSU^mWXUmdVTRU_TSlSTRWfUTRYZeTRSTUeZTU`R^mU`ZSSTR\ LV[^ReU RT[STU VZWXU dZWXS\U kQWXU VWXQdU d^WXU cmRlTRU SmWXTU VYVRSTU Th^Z_^gU TZdU c^mgU j^mVS[RQKTVU hTRiSU ^mjfU e^VU eZWXSU mdSTRU eTRU e^mSU TZd[TYj_^dlSU Y^R\ P^WXeTgUVZTUTVUgZSU^__TRU[T`QSTdTdUfQRVZWXSUTdSjTRdSUX^SSTdfUYmReTULV[^ReUVWXdT__UYZTeTRUeTRUL_ST\ULmjUab^RZVU`R^[TdU`TX^mYSTSTUTRfUeTdUcRSfU^dUeTg S^ddbUmdeU^ZcUZdUhTj^d[TdVWX^jSU[TR^STdUY^RTdfUhTeTRlTZSUYZTeTRjZdeTdUlmUcNddTd\UUnTddUemUeZWXUVS^RcU[Tdm[UjVX_VSfU`RTWXTdUYZRUVQjQRSU^mjWfUVWX_m[UeZT `R^mUoQR\UU]XTULdSZO]SUTRjiXRSfUe^KUVTZdTUeT_jTRUoTRV^[SUX^`Td\W SZTU`TdNSZ[STdUTZdTdUX^_`TdUa^[fUmgUeZTUkQYYT_VQddTUlmUTRRTZWXTd\UL`TRUdQWXU`ToQRUVZTUbYZT_ZWXSUd^XTUc^gTdfUlTR`^RVSUeTRUP_^dTSUZdUTZdTRU[TY^_SZ[Td ]XY_QVZQdfUeZTUjVRUcmRlTUbTZSUTZdTUeRZSSTUSQddTUTdSVSTXTdU_ZTK\Uk^gZSUY^RUeZTUTZdlZ[TU`R^mWX`^RTUSYmRfUeTRUab^RZUX^SSTUd^WX[TXTdUYQ__TdfUlTRVSNRS\UTh^Z_^g mdeUZXRU`_ZT`UdmdUdZWXSVU^deTRTVUV`RZ[fU^_VUd^WXU^deTRTdUcRSTdUlmUVmWXTdfU^dUeTdTdUP^`T_UlmRUP^gTd_QVTdUbQdTUYZRcSTd\UkTRU`R^mUY^RUc_^RfUe^KUVZTUe^gZS _TSlS_ZWXUe^VU[_TZWXTUbZT_UoTRjQ_[STdUYZTULS_^d\UPmdUYVReTUVZTUoTRVmWXTdfU^deTRTUnT[TUTZdlmVWX_^[Td\
:;<:
WXYZX[\]X^Z\X_\Y`\ab`c\def\cX[\ghX`ZXiX[\cX[\jkl\mYZn oX[\pb_bqq rs`\tbquvw`]s\xqXX wmy[X__imn z\{sy|[Y]^Z\cX[\k[Y]Y`bqbi_]bhX\h|\}bhXqv~sXY]\pX[qb]\x\b_ZbZZ {^XK[XcbuZYs`n\xqbi_\HI\t[YJu z\{sy|[Y]^Z\cX[\Xassuvgi_]bhX\h|\[XbcX[_yqb`XZ\mhK\}b__bi\LMMN\XY`X\lYOX`Obi_]bhX\mYZ X`X^mY]i`]\cX[\}bhXqv~sXY]\pX[qb]\x\b_ZbZZ