Домашняя работа по математике. 5 класс

>hfZrgyy jZ[hlZ ihfZl_fZlbd_ aZ deZkk d mq_[gbdm ©FZl_fZlbdZdeZkkª GYeyaZibkbqbkeZbkihevah\Zghp...

Author: Попов М.

20 downloads 190 Views 3MB 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

DOWNLOAD PDF

>hfZrgyy jZ[hlZ ihfZl_fZlbd_ aZ deZkk

d mq_[gbdm ©FZl_fZlbdZdeZkkª GY
mq_[ghijZdlbq_kdh_ ihkh[b_

< ihjy^d_ ke_^h\Zgby aZibkZgu qbkeZ iylgZ^pZlv klh iylv^_kyl ^\Z iylvkhlq_lujgZ^pZlv^\_lukyqbiylvkhlljb^pZlvk_fviylvlukyqk_fv iylv^_kyl ^\_ lukyqb r_klvkhl iylgZ^pZlv Khhl\_lkl\_ggh pbnjZ \ aZ ibkbwlboqbk_ehagZqZ_lqbkeh_^bgbpqbkeh^_kyldh\qbkehkhl_gqbkeh lukyq^_kyldh\lukyqPbnjZ \ aZibkbqbk_e ih ke_^h\Zl_evgh hagZqZ_l hlkmlkl\b_ _^bgbp \ jZajy^Zo _^bgbp ^_kyldh\ lukyq^_kyldh\lukyqlukyqkhl_gb ^_kyldh\ Z [ \ ] ^ _ Khhl\_lkl\_gghwlhqbkeZ ^_\ylvkhlljbiylvkhl\hk_fv^_kylljblukyqb^\_klbkhjhdh^bgr_klvlu kyqiylvkhlkhjhdljbljblukyqb^_\ylvkhliylv^_kylk_fvlukyq\hk_fv Khhl\_lkl\mxsb_ qbkeZ bf_xl ke_^mxsmx aZibkv ² ^\_lukyqbq_luj_klZ k_fv ² ljb^pZlv iylv lukyq \h k_fvkhl^_kylv² iylvkhllukyq ^\_klb iylgZ^pZlv ² r_klvfbeebhgh\iylvkhlk_fv^_kyllukyq² ljbfbeebZj^Z khjhd \hk_fv fbeebhgh\ iylvkhl q_luj_ lukyqb ljbklZ ^\Z^pZlv iylv ² ^\Z^pZlv q_luj_ fbeebZj^Z r_klvkhl k_fv^_kyl lukyq h^bg ² ljbklZ fbeebZj^h\ klh fbeebhgh\ ^\_klb ljb ^pZlvq_luj_lukyqbklh^\Z^pZlv^_\ylv Iylvkhl^_\ylvr_klvlukyqh^bg^_\yghklhlukyqiylv^_kylk_fvfbe ebZj^h\ \hk_fvkhl iylv^_kyl lukyq klh ^\Z^pZlv k_fv iylv^_kyl r_klv fbeebZj^h\ k_fvkhl ^_\ylv lukyq ^\Z^pZlv h^bg fbeebZj^ \hk_fv^_kyl iylvfbeebhgh\ljbklZkhjhdfbeebZj^h\q_luj_fbeebhgZ^_\yghklhlu kyq ljbklZ \hk_fv^_kyl r_klv fbeebZj^h\ \hk_fvkhl ^\Z^pZlv fbeebhgh\ \hk_fvkhlh^bgfbeebZj^ljb^pZlvh^bgr_klv^_kylljbfbeebZj^Z^_\ylv fbeebhgh\iylv^_kylh^bgfbeebZj^klhlukyq^_\ylvkhl^_\yghklh^_\ylv ljbklZ \hk_fv^_kyl ljb fbeebZj^Z ljbklZ r_klv^_kyl iylv fbeebhgh\ q_ luj_klZ^_\ylvlukyqk_fvkhlk_fv QbkeZihihjy^dmboke_^h\Zgby\ l_dkl_ ²r_klv^_kylr_klvlukyqr_klvkhlr_klv^_kylr_klv ² \hk_fv fbeebZj^h\ \hk_fv^_kyl fbeebhgh\ \hk_fvkhl \hk_fvlukyq\hk_fv^_kyl

Z ±r_klvkhlkhjhdk_fvlukyqr_klvkhlkhjhdk_fv [ ± r_klvkhl khjhd k_fv fbeebhgh\ r_klvkhl khjhd k_fv lukyq r_klvkhlkhjhdk_fv\ ±r_klvkhlkhjhdk_fvfbeebZj^h\r_ klvkhlkhjhdk_fvfbeebhgh\r_klvkhlkhjhdk_fvlukyqr_klvkhlkhjhdk_fv b LjbklZ\hk_fv^_kyl^_\ylvkhlk_fvr_klv^_kyllukyq^\_klbljb^pZlv ^_\ylvklh^\_lukyqbq_luj_klZ^_\ylvkhl^_\yghklh^_\ylvlukyq^_\ylv khl^_\yghklh^_\ylv < khlg_ ^_kylv ^_kyldh\ \ lukyq_ ^_kylv khl_g b klh ^_kyldh\ \ fbe ebhg_lukyqZlukyq >eyaZibkbqbkeZbkihevah\ZghpbnjbadhlhjuoljbjZaebqgu Z [ \ ] ^ _ Z ± ± [ ± ± \ ± ± ] Z [ \ ]
^ _ ± ± ` a ±

Z [ \ ] ^ Z [ \ ] ^ _ ` a

±q_luj_klZkhjhdq_luj_fbeebhgZq_luj_klZkhjhdq_luj_ lukyqbq_luj_klZkhjhdq_luj_ b

GZn_jf_ dhjh\Z gZo n_jfZo dhjh\u JZkklhygb_hlrdheu^hdbghl_ZljZgZ ± f f_gvr_ jZk klhygbyhldbghl_ZljZ^h^hfZ Z [ \ ] LhqdbJ bL ^_eylhlj_ahdDFgZ hlj_adbDJJL bLFLhqdZL ^_ebl hlj_ahdDFgZhlj_adbDLb LF

.

3

7

0

GZhlj_ad_K'e_`Zllhqdb )b Dg_e_`Zllhqdb?< b: Z Lhqdb K'?[ lhqdb'b ?\ lhqdZK] lhqdZ? GZ jbkmgd_ hlf_q_gu hlj_adb HK HD HF KD KF DF jZ\gu_ hlj_adbmdZaZguh^bgjZa

2

&

.

0

%

'

JZ\guf_`^mkh[hchlj_adb:
$

&

Z ^fkf kfkf kf [ ^fkf kfkf kf\ ^fkf kfkf kf

Z kf kfkf ^fkf[ kf kfkf ^fkf \ kf kfkf ^fkf Z kfff ff ff ff [ ^fkfff ff ff ff ff\ kf ff Z ff ff ff kfff [ ff ff ff kfff

Z dff f f f [ dff f f f\ dff f f f Z f f f dff [ f f f dff \ f f f dff Z f kf[ f kf ff \ ^f kf ff] df f kf ff

$

% :< kfff
0

$

.

&

%

F: kfFD kfff:D kfff

<_jrbgZfbr_klbm]hevgbdZy\eyxlkylhqdb 123760klhjhgZfb r_klbm]hevgbdZy\eyxlkyhlj_adb122337766001 G_h[oh^bfh ijh\_klb hlj_ahd $' <_jrbgZfb ihemqb\r_]hky q_lu j_om]hevgbdZy\eyxlkylhqdb :KF'klhjhgZfbwlh]hq_luj_om]hevgb dZy\eyxlkyhlj_adb:KKFF'b '$ Ebgby&'y\ey_lkyhlj_adhf R_klvlukyq\hk_fviylvfbeebhgh\^\_klbljb^pZlvh^gZlukyqZklh iylv^_kylq_luj_^_\ylvfbeebhgh\iylv^_kyliylvlukyqk_fvr_klv^_kyl fbeebhgh\\hk_fv^_kyllukyqiylgZ^pZlv Z [ ± ± ± ± ± \ ]

KeZ]Z_fh_ KeZ]Z_fh_ KmffZ

Z ± [ ± \ ±

Z [ \ K ihfhsvxpbnjfh`ghkhklZ\blvlj_oagZqguoqbk_e[_aih \lhjZ pbnj \ bo aZibkb GZbf_gvr__ ba wlbo qbk_eZ gZb[hevr__ >ebgZj_dbMjZe± df
± ± ±

Ihemqbebkvhlj_adbH:HFHDHL Ihemqbebkvhlj_adb
%

df f ^f kf

0

1

&

Z df fdff fdff f [ f dfff dff \ ^fkf kff kf kff kf kf ff kfff kf ] ff kfffff kfffff kfff < iZd_l_hklZehkv± ± ] djmiu
&

0

3 ' LhqdZF e_`blgZijyfhc&'lhqdZJ e_`bl\g_hlj_adZ&'

IjyfmxgZjbkmgd_fh`ghh[hagZqblv ke_^mxsbf kihkh[hf :K :J JK K: J:KJ

$

3

&

Lhqdb:DK< e_`ZlgZijyfhc:<Z lhqdb?'J g_e_`ZlgZijy fhc:< G_i_j_k_dZxlkyijyfZy:
& $ % :< kf:K kfGZijyfhc:\_i_j_k_dZxsb_kyijyfu_^_eyliehkdhklvgZqZklb

%

&

$ Ijyfu_:<:Kb
$ % & ' ; :<
Mf_gvrZ_fh_

Z [ \ ] Fh`_lGZijbf_j ± Z Ljbpbnju[ ljbpbnju\ ljbpbnju] q_luj_pbnju Z f kff kf f kf f kf [ ^f kfkf kfkf kf ^fkf \ f kff kf kfkf kf f kf ] dff f f f f dff

0

3

3

. FJ kfJD kfffDK kfff

. &

Ihemqbebkvq_luj_om]hevgbdF
Z [ \ ] ±klh\hk_fv^_kylfbeebhgh\iylvkhl^_\ylv± ljbklZfbeebhgh\h^gZlukyqZk_fvkhl±r_klvkhl\hk_fv fbeebZj^h\r_klvkhlfbeebhgh\iylvlukyqljb JZkklhygb_f_`^mklZgpbyfbjZ\gh dfihwlhfmkdhjhklv iZkkZ`bjkdh]hih_a^ZjZ\gZ ±dfq JZkklhygb_f_`^m]hjh^hfb k_ehfjZ\gh dfb \_ehkbi_^b klmgZwlhlimlvihlj_[m_lky q

$

&

%

'

3

1 ' Lhqdb:K<H e_`ZlgZijyfhc:<lhqdb'J b1g_e_`ZlgZg_c

&

2 %

3

.

'

)

LhqdbHJD e_`ZlgZemq_&'lhqdb < b)g_e_`ZlgZwlhfemq_

2 0 3 $ GZq_jl_`_ihemqbebkvemqbH:F:J:

Hlj_ahd K' i_j_k_dZ_l ijyfmx :< hlj_ahd DF g_ i_j_k_dZ_l :< hlj_ahdJ?g_ e_`bl gZ :<

Lhqd_ : khhl\_lkl\m_lqbkehlhqdb< qbkehlhqd_K qbkeh lhqd_'qbkeh JhklK_j_`bjZ\_gf kfEx^u±f kfLZgb±f kf

Z [ ± Z [ ± ± ± ± ± \ ]

Fgh`bl_ev Fgh`bl_ev Ijhba\_^_gb_

AZq oh^v[ui_r_oh^b^msbckhkdhjhklvxdfq ba?evgbgh\ Khkgh\ dmijhc^_l dfAZq hgijhc^_l dfaZq ² dfaZq ² dfb hdZ`_lky\ Khkgh\d_ Z f f[ f f\ f f

Z f kf kf kf f kf [ ^fkf kf kf ^fkf ?kebd h^ghagZqghfmgZlmjZevghfmqbkemQijbibkZlvlZdh_`_qbkeh lhihemqblkyqbkehQQ QQKe_^h\Zl_evghbkoh^gh_ qbkeh Q m\_eb qblkygZQQ±Q QQ± Q QIjbibkZ\d Q ^\ZlZdboqbkeZihemqbf qbkehQQQ QQQKe_^h\Zl_evghbkoh^gh_qbkehQm\_ebqblkygZ QQQ±Q QQQ± Q QQ

GZq_jl_`_hlf_q_guemqbH: H<HKH'HDHJHFH1 Ijyfu_:<K'01DJ^_eyl iehkdhklvgZqZkl_c

H: :<
±h^bgfbeebhg±h^bgfbeebZj^ ± klhlukyq±ljbfbeebhgZ GZ fZrbgm ]jmabeb ih l a_jgZ Z gZ fZrbgm ]jmabeb ih l a_jgZAZljbj_ckZfZrbgui_j_\_aeb l a_jgZ AZq jZ[hlujZ[hqbcba]hlh\bl ^_lZe_cjZ[hqbcba]hlh \bl ^_lZe_cAZq jZ[hlu\f_kl_hgb ba]hlh\yl ^_lZe_c AZ wlh \j_fy jZ[hqbc ba]hlh\bl gZ ± ^_lZ e_c[hevr_jZ[hq_]h ebgZdblZjZ\gZfdZevfZjZ±fZdmeu±fdjhdh^beZ±f Ijbwlhfdbl^ebgg__ZdmeugZ± fdjhdh^bedhjhq_dZevfZjZ gZ± f AZq jZ[hqb_kh\f_klghba]hlh\yl ^_lZe_c Ihwlhfm^_lZebhgbba]hlh\ylaZ q kh\f_klghcjZ[hlu

Z [ ± ± \ ± Z : e_\__ < [ : e_\__ < \ < e_\__ :

] < e_\__: ^ : e_\__< _ < e_\__:

Z K ijZ\__' [ K ijZ\__' \ K ijZ\__'

] ' ijZ\__ K ^ K ijZ\__' _ K ijZ\__'

Z [

\ ]

Z ! [ !

\ ! ] !

Z

^ _ ^ ! _ !

[

!

Z
QbkehgZoh^blkyf_`^mb b hdZgqb\Z_lkypbnjhc Z =jbrbg:glhgh\_fbgZ?jfbeh\Z [ ?jfbeh\Z>_fbgZ;hjbkh\
:< FD HJ K' ()

] z ^ _

:
Z ± [ \ ] ± ± ± ± ± >_ebfh_ >_ebl_ev QZklgh_

Z LhqdbF b 1 m^Ze_guhllhqdb < gZ_^bgbqguohlj_adZ [ LhqdZ' m^Ze_gZhllhqdb < gZ_^bgbqguohlj_adZ Z [ M :e_rb fZjdZbebgZ± fZjdbf_gvr_q_f m :g^jxrb ;jb]Z^ZaZ± q ba]hlh\beZ^_lZe_cAgZqblaZq hgZba ]hlZ\eb\ZeZ ^_lZe_cZ dZ`^ucjZ[hqbcaZq ba]hlZ\eb\Ze ^_lZe_c Z GZ^hjh]mbaeZ]_jy\ ]hjh^lmjbklaZljZlbe qZ gZh[ jZlgucimlv qKe_^h\Zl_evghgZ ^hjh]m ba eZ]_jy \ ]hjh^ lm jbklaZljZlbegZ± q [hevr_ [ Imlvhl^hfZ^hjZchggh]hp_gljZaZgyem B]hjy qZ h[jZl gucimlv qKe_^h\Zl_evghgZh[jZlgucimlvB]hjvaZljZlbegZ ± q f_gvr_ ± ± ± ± ± ± Z : e_\__ < [ ' e_\__K

\ ) e_\__? ] D e_\__J

Z : ijZ\__ H [ ' ijZ\__K

\ 1 ijZ\__F ] D ijZ\__J

Qbkeh[hevr_q_fb f_gvr_q_fb hdZgqb\Z_lkypbnjhc

Z ! [

\ ] !

^ _ !

Q_luj_oagZqgh_qbkehhdZgqb\Z_lkypbnjhcb [hevr_q_f : < K ' Z ± z [ z

\ z ] ±

Z AZq ]hem[vijhe_lbljZkklhygb_ dfZ lZddZdlh ]hem[vg_mki__l^hklZ\blv^hg_k_gb_[ aZq ]hem[vijhe_lbl df Z lZddZd!lh]hem[vmki__l^hklZ\blv^hg_k_gb_ JZkklhygb_hlOZjvdh\Z^hFhkd\ujZ\gh dfihwlhfm^ebgZ imlbhlK_\Zklhihey^hFhkd\uq_j_aOZjvdh\jZ\gZ df JZkklhygb_hlklZgbpu^h]hjh^ZjZ\gh dfgZh[jZlgmx ^hjh]m:g^j_cihljZlbl q

Kdhjhklv\kZ^gbdZ dfqZ kdhjhklvfhlhpbdebklZ dfqKe_^h\Zl_evghfhlhpbdebklgZdfimlbihljZlbl q Z ± [ ± ±

\ ± ]

Iexk Qbkeh Hlj_ahd Lj_m]hevgbd >_e_gb_ Ehdhlv EmqIehkdhklvKeh`_gb_LjbAZ^Zqb

D qbkemgZ^hjZaZijb[Z\blvihqlh[uihemqblv qbkeh ;uehdmie_gh d]h\hs_cb d]njmdlh\

HllhqdbF gZ^hhleh`blv_^bgbqguohlj_adh\\ijZ\hqlh[uihiZklv \ lhqdmL

Z [ Z [ Z [ \ ]

Z [ Z [ \ ] Z

[

\

]

Ijh^mdpbyF_kyp Klmevy Klheu Lmf[hqdb
Yg\Zjv

N_\jZev

FZjl

Nb]mjuP\_l Lj_m]hevgbdb Q_luj_om]hevgbdb
;_eu_

K_ju_

Q_jgu_

! lZddZddZ`^h_keZ]Z_fh_i_j\hckmffu[hevr_ khhl\_lkl\mxs_]h_fmkeZ]Z_fh]h\lhjhckmffu Z [ LZddZd b lh AgZqbl qbkeh! g_fh`_l[ulvkmffhcwlboqbk_e :D :<
:< :FFDD< ff kfff >ebgZaZ[hjZmqZkldZjZ\gZ f >ebgZ\lhjhcklhjhguijyfhm]hevgbdZjZ\gZ kfZ _]hi_ jbf_ljjZ\_g kf 'D kfDK kfJ'.& kf :

<

K ' :<
$% ffJ:<&' ff kfff

Z ± ± ± ± ± [ ± ± ± ± ± \ ] ^ Z l d] d]d] [ df f f f \ p d] d]d] ] df f f f

Dj_ihklvkljhbeZkve_l e_l

Kms_kl\m_l b \k_wlbqbkeZy\eyxlkygZlmjZevgufb Z m\_ebqblky\ jZa [ _kebqbkehbf_eh\b^NQlhNQNQ±Q NQ±qbkehm\_ebqblkygZNQ ! ] d] d] ] d] d] l d]p d] d]] ] p d] ] l d]] ] >\Z\_dZkhklZ\eyxle_lihe\_dZ±e_lq_l\_jlv\_dZ±e_l e_lkhklZ\eyxl\_dZe_l± \_dh\e_l±\_dh\ !

!

± ± ± ±
Z [ >gbg_^_eb

H^_`^Z

Ihg_^_evgbd
H[m\v

LjbdhlZ`

Z [ FJ ff ff ffJD ff ff ff JDFJ ff kfff

RbjbgZ ijyfhm]hevgbdZ jZ\gZ kf kf i_jbf_lj jZ\_g kf>ebgZklhjhgud\Z^jZlZbf_xs_]hlZdhc`_i_jb f_ljjZ\gZ kf < ]hjh^hlijZ\beb± d]\bgh]jZ^Z^eyq_]hihlj_[h \Zehkv ysbdh\ Z [

Z ± [ \ ] ^ _ ± ± ± ± Ijb\uqblZgbb bagZlmjZevgh]hqbkeZjZaghklvy\ey_lkyij_^r_kl\mxsbf mf_gvrZ_fhfm qbkehf ± BaqbkeZgZ^hjZa\uq_klvqlh[uihemqblvqbkeh

Z \uq_klvqbkehbaagZqblgZclblZdh_qbkehdhlhjh_\ kmff_ k ^Z_lwlhqbkeh± [ \uq_klvbaqbkehagZqblgZclblZdh_qbkehdhlhjh_\ kmff_k ^Z_lWlhqbkeh± \ qbkeh baqbkeZ agZqbl gZclb lZdh_ qbkeh dhlhjh_ \ kmff_ k ^Z_lWlhqbkeh± ] \uq_klv ba agZqbl gZclb lZdh_ qbkeh dhlhjh_ \ kmff_ k ^Z_l ± Z ± [ ± \ lZddZd lh\uqblZgb_\uihegblvg_evay ] lZddZd lh\uqblZgb_\uihegblvg_evay ^ ± _ ± :\lhfh[bexhklZehkvijhclb± df :K :<±K< ± kf FZkkZe [_gabgZjZ\gZ± ] ebgZZdmeujZ\gZ± f

LhqdZ < gZdhhj^bgZlghfemq_jZkiheh`_gZke_\ZhlK gZjZkklhy gbb _^bgbqguohlj_adh\

Z ± \ ± ^ ±

[ ± ] ± ± _ ±

Z

\

[

]

Z ± [ ± ± \ ± ± ] ± I_j\uckihkh[j_r_gby
Z K' $%±$&%' ± ± kf [ :< $'&%±&'&' $'&%±$% ± ± kf RbjbgZmqZkldZjZ\gZ± fi_jbf_ljjZ\_g f bfZ nbgbrbjh \Z\rbcgZ k fbgk iha`_ih[_^bl_ey Z

[

Z ±

[ ±

Z

[

\

H:±H< ±

Z

Qbkeh klhys__ \ kj_^g_c de_ld_ jZ\gh kmff_djZcgboqbk_e

[

Qbkeh klhys__ \ kj_^g_c de_ld_ _klv qZ klgh_ ijb ^_e_gbb djZcg_]h e_\h]h gZ djZcg__ijZ\h_qbkeh

\

Qbkeh klhys__ \ kj_^g_c de_ld_ jZ\gh jZaghklb djZcg_]h e_\h]h b djZcg_]h ijZ \h]hqbk_e

I_jbf_ljijyfhm]hevgbdZjZ\_gkmff_^ebg_]hklhjhgIhkdhevdm ^ebguklhjhgijyfhm]hevgbdZihiZjghjZ\gulh_]hi_jbf_ljjZ\_gm^\h _gghckmff_^ebgg_jZ\guof_`^mkh[hcklhjhgD\Z^jZly\ey_lkyijyfh m]hevgbdhf m dhlhjh]h ^ebgu \k_o o klhjhg jZ\gu Ihwlhfm i_jbf_lj d\Z^jZlZmq_l\_j_gghc^ebg__]hklhjhgu
!

[

!

\

!

]

I_jbf_ljijyfhm]hevgbdZjZ\_g kfi_jbf_ljlj_m]hev gbdZgZ± kff_gvr_i_jbf_ljZijyfhm]hevgbdZ I_jbf_ljijyfhm]hevgbdZ jZ\_g kf i_jbf_lj lj_m]hevgbdZ gZ± kf[hevr_i_jbf_ljZijyfhm]hevgbdZ ± ± ± ±

±

< fhld_hklZehkv± f e_kdbHlj_aZebgZ± f e_k db[hevr_q_f__ hklZehkv\ fhld_ Z ±\uqblZgb_\uiheg_ghijZ\bevgh [ ±\uqblZgb_\uiheg_ghijZ\bevgh Z ± [ ± \ ±

] ± ^ ± _ ±

:< kf

< ihjy^d_\hajZklZgbyfZkku`b\hlgu_jZkiheZ]ZxlkylZd]hem[vdm jbpZbg^xdh\pZ\_j[ex^kehg AZqZkmqZsb_kyijhiZeu\Zebkh\f_klgh ]jy^hdb ]jy^dmijhihehebaZ qZkh\ Z ± [ ± ± \ ± ± ] ± Z [ ±± ± \ ] ± ± ^ ± _ Z Z [ o ±

Z ± [ ±± \ Z

\ m Z ± ] ±j

] o ±E± ^ ± Z o ± _ E±m

Z Z ±E ± kmffZ\ujZ`_gbyZ fbgmkEb qbkeZ [ m ± ±jZaghklv\ujZ`_gbym iexkb qbkeZ \ ±o ±jZaghklvqbkeZb \ujZ`_gbyo iexk ] Z ± k ± ±kmffZ\ujZ`_gbyZ fbgmkb kfbgmk

Z IjbQ Q ± ± ijbQ Q ± ± ± ijbQ Q ± ± ± [ IjbZ E Z ±E ± ± AgZq_gb_Z AgZq_gb_Z AgZq_gb_±Z Z ±ZZijbZ [ ±Z!ZijbZ \ ±Z ZijbZ

Z jm]hfm[jZlmo e_lIjbo o ijbo o ijbo o KlZjr_fm[jZlmZ E e_l Z IjbZ E Z E [ ijbZ E Z E

< iheghqvl_jfhf_ljihdZau\ZeW±S K Z IjbW S W±S ± & [ IjbW S W±S ± &

K_klj_o ±Z e_lAZ^ZqZbf__lkfukeijbgZlmjZevguoagZq_gbyoo b Zijbq_fo ! ZHq_\b^ghqlhijbo Z aZ^ZqZg_bf__lkfukeZ

Z
ijbo :D ± kf ijbo :D ± kf

J:
2

$

D± 3

D

%

D 0

2

E±

'

D

E

%

[

E

$

\

&

]

^

Z

[

HF±HD ± HF HD Z kfff ff ff kf [ p d] d] d] p d] \ l p d] d] l p d] ] ^fff ff ff kfff Z [ \ ± ± ] Ml\_j`^_gbyZ \ y\eyxlky\_jgufbml\_j`^_gb_[ g_\_jgh H[sZyfZkkZ[_]_fhlZb _]h^_l_gurZjZ\gu d]d]±d] d] Z

[

\

Z 01 kf1' kfK' kf [ 01 ± kf1' ± ± kf \ &10' &'0101 &10'±&' ± ± kf ± ± ± ± ± ±

Klhbfhklv dZ`^hc ba ^_lZe_c jZ\gZ jm[e_c Z klhbfhklvdZ`^hcba^_lZe_cjZ\gZ jm[e_cAgZqblklhb fhklvh^ghc^_lZeb\lhjh]h\b^Z[hevr_klhbfhklb^_lZeb i_j\h]h\b^Z\ jZaZ F_lZeebq_kdbo^_lZe_cdmie_gh rlmdieZklfZkkh\uo ^_lZe_cdmie_gh rlmdbAgZqblf_lZeebq_kdbo^_lZe_c dmie_ghgZ± rlmd[hevr_ Z [ ± ± \ ± ± ] ± ± ±
\ o m ] P± Q

< kmldZoqihwlhfmijh^he`bl_evghklvghqbjZ\gZ±Z q IjbZ ± Z ± q IjbZ ± Z ± q IjbZ ± Z ± q FZkkZZj[maZjZ\gZ±Q d]h[sZyfZkkZ±o Zj[mah\±Q ±Q d] IjbQ ±Q ± d] ijbQ ±Q ± d] ijbQ ±Q ± d] DZ`^hfmfZevqbdm^hklZehkvPQ fZjhdIjbP Q P Q fZjhdIjbP Q PQ fZjhdg_^_eylkyihjh\gm I_jbf_ljijyfhm]hevgh]hmqZkldZjZ\_gJ DE ]^_Z ±^ebgZ mqZkldZE±rbjbgZmqZkldZ Z IjbZ fE f J f [ IjbZ o fE f J o f \ IjbZ fE m f J m f ] IjbZ m fE o f J m o f Z IjbZ IjbZ [ Ijbo Ijbo \ IjbZ E IjbZ E

Z Z ±o ± ±o ± ZE ± ± ± ZE ± ± ±

Z E F DEF DEF²khq_lZl_evgh_k\hckl\hkeh`_gby ijbZ E F Z E F Z EF Z EF Z ±EF Z ±E±F±k\hckl\h\uqblZgbykmffubaqbkeZ ijbZ E F Z ±EF ± ± Z ±E± F ±± ± Z E ±F Z E± F Z ±k E±k\hckl\h\uqblZgbyqbkeZbakmffu Z ijbZ E F Z E ±F ± ± Z ±k E ± [ ijbZ E F Z E ±F ± ± Z E± F ±

JZkklhygb_:KjZ\ghkmff_jZkklhygbc:
Z ±o ±o ±±o ±o [ ±P± P ±P ± ±P ±P Z P ± ±P ±P [ Q± ±Q Q \ E± E± E ] Z ± Z ± Z ^ ± N N ± N H [± [± [

D D±± D±± D± ijbZ Z ± ± [ E± E± E ijbE E \ k k k ijbk k ijbk k ] G± G± G ijbG G ijbG G Z :< :K&''& [ ff o ff ijbo o ff ijbo o ff [ :K :<±&''% ±m ± ±m ±m ff ijbm ±m ± ff ijbm ±m ± ff

[

\

]

^

Z ± \ ±

\ ± ] ±

Z

[

Ljb ihke_^h\Z l_evguo gZlmjZev guoqbkeZ

Ljb gZlmjZevguo qbkeZ ba dhlhjuo ihke_^mxsb_ gZ [hevr_ ij_^u^ms_ ]h

\

Ljb gZlmjZevguo qbkeZ ba dhlhjuo ihke_^mxs__ \ jZaZ [hevr_ ij_^u ^ms_]h

Z emqb hlj_ahdy\eyxlkyqZklvxijyfhcghhlj_ahdh]jZgbq_gk h[_ boklhjhgZ emqlhevdhk h^ghc [ ijyfZy[_kdhg_qgZZ emqbf__ldhg_pohlylhevdhk h^ghcklhjhgu Z kmffZm\_ebqblkygZ [ kmffZm\_ebqblkygZ \ kmffZg_baf_gblky ] kmffZm\_ebqblkygZ\_ebqbgmwlh]hkeZ]Z_fh]h

IehsZ^vd\ZjlbjujZ\gZZ Z f IjbZ Z fIjbZ Z f < lj_lv_fZev[hf_kh^_j`blky±m ±m fZjhd Ijbm ± m ± fZjhd ijbm ± m ± fZjhd

AZ^\Zf_kypZbajZkoh^h\Zebo o lk_gZZ \kZjZ_hk lZehkv± o ± o lk_gZIjbo ±o ± lijb o ±o ± lijbo ±o ± l k_gZ Z ±

[ o ±

Z ±

[

Kdhjhklv k[eb`_gby \_ehkbi_^bklZ b i_r_oh^Z jZ\gZ dfq Q_j_aq hgbk[ebaylkygZ dfb f_`^mgbfb[m^_l± df Q_j_aq hgbk[ebaylkygZ dfb f_`^mgbfb[m^_l± df Q_j_aq hgbk[ebaylkygZ dfl_q_j_aq hgb\klj_lylky Z P P P [ Q±± Q± Q± \ ± ±N ±N ] ±W± ±±W ± W

D ±S ±S ±S ijbj ±j ± ijbj ±j ± [ ±O ± ±±O ±O ijbO ± ijbO ±

GZ ijhoh`^_gb_ ljZkku fhlh]hgsbd aZljZlbe Q ±Q ±QF_dmg^IjbQ ± FijbQ ± ± FijbQ ± FijbQ ± F I_jbf_ljlj_m]hevgbdZjZ\_g± o o o kfIjbo kfijbo kf ImlvlmjbklZjZ\_g df =hjh^

K_eh

AZq i_r_oh^ijhc^_l dfaZq ± dfaZq ± df aZq ± dfQ_j_aq ihke_\uoh^Zba]hjh^Zhgijb^_l\ k_eh

Z ± ihwlhfm! ± [ ihwlhfm

Z ±± ± ± [ \ ± ± ± ± ] Z o o ±o [ m m ±m \ ± ] ] ±] ] P± P P ^ ±Q Q ±Q H S± S S

;m^_f h[hagZqZlv q_j_a o g_ba\_klgmx \_ebqbgm Lh]^Z kijZ\_^eb\u mjZ\g_gby Z o o ±o Hl\_l]jb[h\ [ o ± o o Hl\_lo f_ljZ \ o o ±o Hl\_lfbgml ] ±o o ±o Hl\_lq_eh\_d ^ o ± o o Hl\_lo dfq _ o o ±o Hl\_le_l o o ±o Hl\_lff

Z kihkh[o o ±o ±o kihkh[o o o ±o Hl\_l [ kihkh[m ± m m ± m kihkh[m ± m m ± m Hl\_l Z o ± o o ±o Ijh\_jdZ ± ± Hl\_l [ o ± o o ±o Ijh\_jdZ ± ± Hl\_l \ ± m ± m m ± o Ijh\_jdZ± Hl\_l ] m ± m ± m m Ijh\_jdZ± Hl\_l ^ ± o ±o o ±o Ijh\_jdZ± ± Hl\_l _ ± o ± o ± ±o o Ijh\_jdZ±± ± Hl\_l ;m^_fh[hagZqZlvg_ba\_klgmx\_ebqbgmq_j_a o Lh]^Z fh`gh khklZ \blvmjZ\g_gby Z o o o ±o Hl\_l [ o ± o o ±o Hl\_l \ o ± o o ±o Hl\_le ] ±o ±o o ±o Hl\_lf Z o o o ± [ m m m ±

\ QQ± Q ] PP± P±

D ± [ ± \ o o

] m m ^ ±o o _ ±Y Y

Z [ ±

\ o ± o ] ±o o

D

[

\

]

^

Z E_\__lhqdb? jZkiheh`_gul: gZ_^bgbpl< gZ _^bgbplH gZ_^bgbpu [ ijZ\__lhqdb: jZkiheh`_gul? gZ_^bgbpl' gZ_^b gbplK gZ_^bgbp \ f_`^mlhqdZfb< b ' jZkiheh`_gul: b l? Z

Kj_^g__ qbkeh jZ\gh m^\h_g ghckmff_djZcgboqbk_e Z

!

[

!

[

Kj_^g__ qbkeh jZ\gh ihemkmf f_djZcgboqbk_e \

!

] g_evaykjZ\gblvk

Z q fbg fbg [ l p p \ kf ff ff >eyijb]hlh\e_gbyaZ\ljZdh\bajZkoh^h\Zeb e fhehdZihke_ wlh]h\ [b^hg_hklZehkv± e fhehdZ>eyijb]hlh\e_gbyh[_^h\ba jZkoh^h\Zeb e fhehdZ\ [b^hg_hklZehkv± e fhehdZ « « ±ijh\hehdbo\ZlblgZh[jmq_c Z ± ± ± ± [ ± ± \ ± ± ] ± ± ^ ± ± _ ± ± ± GZ]jy^d_hklZehkvN ± Ndmklh\dem[gbdb IjbN N ijbN N

Z E ± E± E ijbE E ijbE [ k ± k ± k ijbk k ijbk \ ±o ± ± ±o ±o ijbo ±o ± ijbo ] ±Z ± ±Z ±Z ijbZ ±Z ± ijbZ

E

k ±o ± ±Z ±

± ± ± ± ± Z o o ±o Hl\_l [ ] ] ±] Hl\_l \ ±m m ±m Hl\_l ] W± W W Hl\_l ^ P±P P Hl\_l H ± NN ±N Hl\_l Z o ± ± o ± o o Ijh\_jdZ± ± ± Hl\_l [ ± m ±m m ± m Ijh\_jdZ± ± Hl\_l ;m^_f h[hagZqZlv q_j_a o g_ba\_klgmx \_ebqbgm Fh`gh khklZ\blv ke_^mxsb_mjZ\g_gby Z o ± o o Hl\_lqZkh\ [ o ± o ±o Hl\_lq_eh\_d \ o o ±o Hl\_l]jZff Fhlhpbdebklm hklZehkv ijh_oZlv ±Z df Ijb Z ±Z ± ± dfIjbZ ±Z ± dfIjbZ ±Z ± df ;m^_fkqblZlvqlh[mluedZnjmdlh\hc\h^uklhbljm[e_cZ imklZy [mluedZklhbldhi__dGZihdmidm[mluehd\h^uihljZlbeb jm[e_cZ aZk^Zggu_[mluehdihemqbeb dhi__dAgZqblijb rehkv^hieZlblvjm[±dhi ± dhi__d jm[e_c dhi__d >eyjZaeb\ZkhdZihlj_[h\Zehkv± lj_oebljh\uo[Zghd

FZkkZ ysbdZ y[ehd jZ\gZ p d] d] d] fZkkZ ysbdZ]jmr±p d] d] d]Ke_^h\Zl_evghfZkkZysb dZy[ehdgZ± d][hevr_fZkkuysbdZ]jmr Z ± ± [ ± ± Z \ o o o o o o o

[

Z [ Z Z Z Z Z Z Z \ o m o m o m o m o m ] NP NP NP GZj_r_gb_mjZ\g_gbc;hjbkaZljZlbefbgk k k fbg K< kf:< kf :< kf f kf < h[hboysbdZo d]ihfb^hjh\ K_j_`_ e_l_]hhlpm e_l Z [ \ ] ^ _ ` a

b d e f g h i j

Z [ \ ]

Z u

[ u

Z [ \ ] Z [

\ ]

kihkh[< ysbdZogZoh^blky dhjh[hdZ \dhjh[dZo lx[bdh\k djZkdZfb kihkh[< dhjh[dZogZoh^blky lx[bdh\k djZkdZfbZ \ ysbdZo lZdbolx[bdh\ AZ^_gvklheyjk ihfhsgbdhf^_eZxl jZfmQ_j_a^gy jZ[hlubfhklZg_lkyk^_eZlv± ± jZfq_j_a^gyjZ[hlu ²± ± jZfuq_j_a^g_cjZ[hlu²± ± ²aZ^Zgb_[m^_l\uiheg_gh GZihdjZkdmhdgZlj_[m_lky± ] [_ebeAgZqbl^eyihdjZkdb hdhgb ^\_j_clj_[m_lky ] d][_ebe Z @beZyiehsZ^vdhll_^`_cjZ\gZ f [ FZkkZimklh]hdhgl_cg_jZjZ\gZ± ± d] Z H[sZy fZkkZ ijb\_a_gguo y[ehd [ gZ kdhevdh [hevr_ ijb\_aeb ysbdh\ y[ehd q_f ysbdh\ ]jmr \ h[sZy fZkkZ ijb\_a_gguo ]jmr ] gZ kdhevdh d] [hevr_ \_kbl ysbd ]jmr q_f ysbd y[ehd ^ h[sZy fZkkZ ijb\_a_gguonjmdlh\_ gZkdhevdh[hevr_d]ijb\_aeby[ehdq_f]jmr Z ± [ ± ± \ ] ^ ± _ ± Z o

[ Z

\ ± P Q

] Z E P

Z P Q [ Z E

\ o m

] Z ±E F

Z Ijhba\_^_gb_qbkeZZ bkmffuqbk_ek bG[ Ijhba\_^_gb_qbkeZ b jZaghklbqbk_eb Z\ mljh_ggZykmffZqbk_e Pb Q] m^\h_ggZyjZa ghklvqbk_ePb Q^ kmffZijhba\_^_gbyqbk_eZ bEb qbkeZk_ jZaghklv qbkeZPb ijhba\_^_gbyqbk_ek bG Z IjbZ ijbZ [ ijbE ijbE

Z Z E E

AZwlh\j_fy\_ehkbi_^bklijh_oZe Z Z dfIjb Z Z dfijbZ Z df ijbZ Z df Z

lZddZdbao ijhba\_^_gbcgZlmjZevguoqbk_e\ dhlh juo h^bg ba khfgh`bl_e_c h^bgZdh\uc [hevr_ lh ijhba\_^_gb_ \ dhlh jhf\lhjhcbakhfgh`bl_e_c[hevr_Z Ihkdhevdm b l_ dZ`^uc ba khfgh`bl_e_c h^gh]h ijhba\_^_gby f_gvr_ khhl\_lkl\mx s_]hkhfgh`bl_ey\lhjh]hijhba\_^_gbylh

Z [ \ ] Z

[

\

]

^

Z

Kj_^g__ qbkeh jZ\gh jZaghklb e_\h]hb ijZ\h]hqbk_e

[

Kj_^g__ qbkeh jZ\gh qZklghfm hl ^_e_gby e_\h]h gZ ijZ\h_ qbkeh

Z o o o [ m m m m \ Z Z ±Z g_kms_kl\m_l Z o o [ ± o oo

\ o ±oo ] o o ±o

±± ±±«±± ± ± ±±±± ± ± ±±«±± ±± ± ± ± ± Z m ± m m ± m Hl\_l [ m ± m m ± m Hl\_l \ ±m ± ±m m ±m Hl\_l ] m m m ±m Hl\_l Z Z Z [ E E \ ± k k ] ±G G

^ P _ ± Q ` N±N a OO

P Q N±ex[h_qbkeh O

Z Imklv\ dhjabg_[ueho ]jb[h\Lh]^Zihmkeh\bx o ± o ±o Hl\_l]jb[ [ Imklvo fZjhddmibefZevqbdLh]^Zihmkeh\bx o ± o o Hl\_lfZjhd

P ± P± P Q ± Q± Q [± [± [ m ± m ± m

± ± ± Z [ Z [ N NNNNNNNN \ o m o m o m o m o m ] Z ±E Z ±E Z ±E Z ±E Z ±E Z ±E FZkkZ\k_]hi_q_gvyjZ\gZ ] l d]
^ _ ` a

Q_j_aq f_`^mih_a^Zfb[m^_l df

GZh[jZlghfimlbkdhjhklv\_ehkbi_^bklZ[m^_ljZ\gZ dfq hgaZljZlbl q Z

[

Z ±± [ ± Z o ± o ± o o ±o [ ±m ±±m ±m m ± m \ ]±± ]± ]± ] ] ] ±W W ±W W ±W

Z o o o Hl\_lijbo [ m m m Hl\_lijb m Z

[

\

G_kms_kl\m_llZdh]hqbkeZQqlh Q >_eblvgZg_evay JZ\_gkl\h P \_jghijbex[hfagZq_gbbPl_^Zggh_mjZ\g_gb_ bf__l[_kdhg_qghfgh]hj_r_gbc
[

` a b d e f [ o ^ o m

\ Z _ Z E D±E

Z QZklgh_qbk_eb Z[ qZklgh_\ujZ`_gbyo iexk m b qbkeZ \ qZklgh_\ujZ`_gbcZ iexk Eb ofbgmkm] qZklgh_\ujZ`_gbyo iexkm b qbkeZP Z >_ebfh_ ^_ebl_ev± [ ^_ebfh_±Z ^_ebl_ev P\ ^_ebfh_o m ^_ebl_evP ] ^_ebfh_o^_ebl_evm ±
Z m o Zoo Z

[ m Z ZoZ o

\ o Z m

H[s__\j_fyjZ[hlu^eyjZ[hqbojZ\gh q AZq jZ[hludZ`^ucba]hlZ\eb\Ze jZfuIhwlhfmjZ[hqbc ba]hlh\be jZfjZ[hqbcba]hlh\be jZfu H[s__ qbkeh ih]jm`_gguo f_rdh\ jZ\gh rlmd
] j j ^ N N H OO O ±ex[h_qbkehdjhf_

o o ±o o Hl\_lkf Z ] ] ±] ] Hl\_l [ W W ±W W Hl\_l \ m ± m m m Hl\_l ] ±U U ±U U Hl\_l Z Imklvo d][_ebekh^_j`Zehkv\ dZ`^hc[Zgd_lh]^Z^eyhdjZkdbih lj_[h\Zehkvo d]djZkdbb [_ebeIhmkeh\bxo o ± o o Hl\_ld][_ebe [ imklvo fZrbg [ueh \u^_e_gh lh]^Zhgb i_j_\_aeb o l m]ey Ih mkeh\bxo o ±o o Hl\_lfZrbg Z o ± o ± o o Hl\_l ] m ± m ± m m Hl\_l [ ] ] ] ±] Hl\_l ^ o [ ±[ [ Hl\_l \ m m m ±m Hl\_l _ ] ] ±] ] Hl\_l

o o ±o o o Hl\_l

Z ImklvaZ^mfZghqbkehmLh]^Zihmkeh\bxaZ^Zqbm± m m m [ Imklv[ueho [Zghdlh]^Z\ dZ`^hc[Zgd_hdZaZehkvo d]djZkdb Ihmkeh\bxo o ±o o \ Imklv[ueh]Z\lh[mkh\lh]^Z\ dZ`^hfgZoh^behkv] iZkkZ`b jZIhmkeh\bx] ] ±] ] Z [ \ o o ] m m

^ P P H S S ` N N a W

Z ^ k k [ _ P P \ Z Z ` ] ] ] E E a N N Z PP P± Z

[

Z \

[ QQ Q±

\

]

^

[

GZbf_gvr__q_luj_oagZqgh_qbkehjZ\ghihwlhfm b Z Z ZZ Hl\_l [ ]] ] ]] beb] Hl\_l \ m m \ Hl\_l

WlhqbkeZ

Imklv\h^\hj_o i_lmoh\lh]^ZdmjoZ mlhd± oo ±o < ihke_^g_fjZ\_gkl\_o fh`_lijbgbfZlvlhevdhagZq_gb_o ihwlhfm \h^\hj_± mlhd Z Z E Z E Z E Z E [ Z ±P Z ±P Z ±P Z ±P Z ±P Z ±P \ om om om om om om om

Z o Z

Z o m Z E

Z Z

[ PQ D±E

[ E±[ [±\

\ Zom E

] PQN

FZkkZdblZjZ\gZl d]l d] d] l d]

AZf_kypZ\uimklbeb \_eh kbi_^h\ :K kfff ± ff ff
Kdhjhklv:g^j_yjZ\gZ fkkdhjhklvGb dheZy jZ\gZ fk Kdhjhklv GbdheZy [hevr_ kdhjhklb:g^j_ygZ± fk <_jlhe_lijhe_l_e f dff Imklvo kf^ebgZhlj_adZK< ihmkeh\bxo o ±o Hl\_lkf ihmkeh\bxo o ±o Hl\_lkf

± ± ± ± Kdhjhklvih_a^ZjZ\gZ dfq

>ebl_evghklvh^gh]hk_ZgkZjZ\gZq fbg fbg

I_j\ucaZ\h^\uimkdZ_l\ ± jZaZ[hevr_ gZbf_gh\Zgbcba^_ebc Z [ Z Z

\ ]

[ P±Q

\ k G±

I_j\ucwdkdZ\Zlhj\ugbfZeaZq f a_feb
?`_^g_\ghh[_[jb]Z^uaZ]hlZ\eb\Zeb l kbehkZb aZljZlb ebgZ_]haZ]hlh\dm ^gyAgZqbl[jb]Z^ZaZ]hlh\beZ lZ [jb]Z^ZaZ]hlh\beZ l kbehkZ GZba]hlh\e_gb_^_lZebjZ[hqb_aZljZlbeb\k_]h qKe_^h\Zl_evghaZq hgbba]hlZ\eb\Zeb ^_lZe_cIjbwlhfjZ [hqbcba]hlh\be ^_lZebjZ[hqbcba]hlh\be ^_lZe_c :<:< ± kf ff ff kfff

IjbN N ± ± ± Qbkeh y\ey_lkydhjg_fmjZ\g_gbyN ± Z o [ [ Hl\_l [ m m m Hl\_l \ ] ] ] Hl\_l ] E E E Hl\_l ^ j ± j ± j j Hl\_l _ ± V ±V V ±V Hl\_l

Imklvo d]fZkkZh^gh]hiZd_lZfmdbLZddZd\_kugZoh^ylky\ jZ\gh \_kbblhkijZ\_^eb\hjZ\_gkl\ho o ±o o Z ± [ ±± \ ] ± ^ ± _ ±

FZkkZ[he\ZghdjZ\gZ d]AgZqblba [he\Zghdfh`ghhleblv^_lZe_cb d]qm]mgZhklZg_lky LZddZd lhbaf ihehlgZfh`ghkrblvih^h^_ yevgbdZb f ihehlgZhklZg_lky H[sZyfZkkZ^_lZebihd]dZ`^ZyjZ\gZ d]LZddZd lhgZhleb\dmwlbo^_lZe_cihlj_[m_lky[he \ZgdZihd]b d]qm]mgZhklZg_lky

>_ebfh_

>_ebl_ev

G_ihegh_qZklgh_

HklZlhd

Z [ \ ] ^ _ ` a b LZddZdijb^_e_gbbhklZlhdf_gvr_^_ebl_eylhijb^_e_gbbgZhk lZlhdfh`_l[ulvjZ\_gbebijb^_e_gbbgZ±ijb ^_e_gbbgZ± bebex[h_gZlmjZevgh_qbkeh f_gvr__ ijb ^_e_gbb gZ± bebex[h_gZlmjZevgh_qbkehf_gvr__ Z g_ihegh_qZklgh_hklZlhd [ ±^_ebfh_g_ihegh_qZklgh_hk lZlhd \ ±^_ebfh_g_ihegh_qZklgh_ hklZlhd Z

[

Z

Z

[

[

\

Z [ Z [

]

^

\ ]

\ ]

KZfh_fZe_gvdh_iylbagZqgh_qbkehm dhlhjh]h\k_pbnjuaZibkbjZa ebqgu _klv KZfh_ [hevrh_ iylbagZqgh_ qbkeh m^h\e_l\hjyxs__ wlhfmmkeh\bx_klv :< ey ij_h^he_gby lZdh]h jZkklhygby jZd_lu ihgZ^h[blky k | kmlhd AZkmlhdjZ[hlujh[hlba]hlh\bl ^_lZe_c AZ^g_cbadjZgZ\ul_q_l \hkvfbebl jh\uo\_^_j\h^u ± ± ± ± ± ± ±

o m o m Hl_p[ueklZjr_kugZkhhl\_lkl\_ggh\ b jZaZKug[uefheh`_hl pZkhhl\_lkl\_ggh\ b jZaZ Z [

\ ]

Z m m ± m Hl\_l [ o o o ±o o o Hl\_l \ ] ±] ] ] Hl\_l ] P± P P P Hl\_l ^ j ± ± S S S S Hl\_l

LZddZd lh^eyi_j_\hadbl a_jgZihlj_[m_lky \Z]hgh\\f_klbfhklvxihl±g_ihegh_qZklgh_b _s_gm`_g\Z]hg m\_albhklZlhd\ l blh]h \Z]hgh\?keb\Z]hg\f_sZ_lllh \Z]hgh\Ihlj_[m_lky\Z]hgh\ Z [ \ < rdhe_[ueh ± \uimkdgbdh\ Z P ±Q [ Z ± E±

\ m o ] ]± ]

Z ± ± [ ± ±

IhdmidZ\_kbl ] d]]Dmie_g gu_qZrdbe_]q_dmie_gguo[ex^_pgZ± ]

AZ\k_\j_fy^\b]Zl_evbajZkoh^h\Ze e lhieb\Z< i_j\hciheh\bg_^gy[uehbajZkoh^h\ZghgZ± ± e lhieb\Z[hevr_q_f\h\lhjhciheh\bg_^gy Z [ ± ± ± \ ] ± ± ± ^ _ ± ± ±

` a b d ± ± ± Z [ ± ± \ ] ± ± ^ ± ± _ Z Z Z Z [ E± E ± E± \ ±o ± o ±o ] m m m

Z o o ± kijZ\_^eb\hijbex[hfo [ o o o o o o±ex[h_gZlmjZevgh_qbkehbeb \ o ± kijZ\_^eb\hijbo ] o ± kijZ\_^eb\hijbo ^ ± o o ±o ±kijZ\_^eb\hijbex[hfo _ ± o o ± ±kijZ\_^eb\hijbo Z Z Z Z [ m m m \ o o o ] m m m

^ j ±j j _ E±E E ` O ±O O a N±N N

Z o o [ [ Hl\_l [ m ±\ m m Hl\_l \ ]] ] ] Hl\_l ] N±N N N Hl\_l ^ O O O O O Hl\_l _ WWW W W Hl\_l Z o ±o o o Hl\_l [ j ±j j j Hl\_l \ Z Z Z Z Hl\_l ] k ±k k k Hl\_l Z o o o o Hl\_l [ m ±m m m Hl\_l \ ]±] ] ] Hl\_l ] ±P P P Hl\_l ^ Q Q Q Hl\_l _ j j j Hl\_l

o o o o o Hl\_lkf

o o o o o Ijbo o kfo kfHl\_lkfb kf Z Z Z Z

[ NN N

Z o o [ ±[ [ Hl\_l [ m ±m m ±\ \ Hl\_l \ ]]± ] ] ] Hl\_l ] W±W± W W W Hl\_l Z N N

[ j j j

Z o o o [ m \ \ \ j j j ] P P P

\ U U U

ImklvaZ^mfZghqbkeholh]^Zihke__]hm\_ebq_gbygZb mfgh`_gby j_amevlZlZgZihemqblkyqbkeho Ihmkeh\bxo o o ±o Hl\_l Imklvo d]dZjlhn_ey kh[jZeb ihke_ h[_^Z lh]^Z o d] dZjlhn_ey kh [jZeb^hh[_^ZAZ^_gvkh[jZebo o d]dZjlhn_eyIhmkeh\bxo o o o d]Hl\_ld]

Imklvdmibebm klheh\lh]^Zklmev_\dmibebm\k_]hdmie_ghm m klheh\b klmev_\Ihmkeh\bxm m m m Dmibeb klheZb klmev_\Hl\_lb Imklv o f iehsZ^v dmogb lh]^Z iehsZ^v dhfgZlu o f JZaghklv iehsZ^_c dhfgZlu b dmogb jZ\gZ o ± o f Ih mkeh\bx o ± o o o Hl\_lf Imklv]ff^ebgZhlj_adZF<lh]^Z^ebgZhlj_adZ:F]ffJZaghklv ^ebgwlbohlj_adh\jZ\gZ] ±] ffIhmkeh\bx]±] ] ] >ebgZhlj_adZF

Z

[

\

]

^

Z [ \ Z m m ±m Hl\_l [ ± m m ± m Hl\_l \ m ± m m Hl\_l ] ± o o ±o Hl\_l Z o ± ±o Hl\_l [ m m Hl\_l \ Z Z Hl\_l Qbkehihemqblkyijbkeh`_gbbqbk_ejZ\guoIjb\uqblZgbbh^b gZdh\uo qbk_e ihemqblky qbkeh Ijb mfgh`_gbb ijhba\_^_gb_ jZ\gh _kebohly[uh^bgbakhfgh`bl_e_cjZ\_gQZklgh_jZ\gh_keb^_ebfh_ jZ\gh KmffZ iylb gZlmjZevguo qbk_e jZ\gZ bo ijhba\_^_gbx _keb qZkZ jZ\gub qbkeZjZ\gu b KZrZj_rbe\ i_j\uc^_gvaZ^Zqb\h\lhjhc^_gvaZ^Zq\ lj_lbc ^_gvaZ^Zqb \q_l\_jluc^_gvaZ^ZqlZddZd b

Z o o o Hl\_l [ m ± m m Hl\_l \ ] ] ] Hl\_l ] j j j ±j Hl\_l ^ ±N ±N N ±N Hl\_l _ ±O ±O O ±O Hl\_l ImklvfZkkZ[ZlhgZoe_[ZjZ\gZo d]lh]^ZfZkkZ[Zlhgh\jZ\gZo d] LZd dZd \_ku gZoh^ylky \ jZ\gh\_kbb lh kijZ\_^eb\h jZ\_gkl\h o o ± o o Hl\_ld]

o o o o o >ebgZhlj_adZebgZ:< jZ\gZkf^ebgZ:KjZ\gZ kf^ebgZ
Z Z Z Z [ E±E E

\ PP P ] Q±Q Q

Z Z Z Z Z Z Z Z Z Z ijbZ Z [ j ±j ±j j ± j j ±j j ijbj j Z o o o [ Hl\_l [ m ±m m m Hl\_l \ ]±] ] ] Hl\_l ] N±N N N Hl\_l ]] ] ] Hl\_l df fl_^eymdeZ^dbdfimlbg_h[oh^bfh j_evkh\ AgZqbl ^ey i_j_\hadb j_evkh\ ihlj_[m_lky \Z]hgZ]jmahih^t_fghklvxl Imklv o e fhehdZ [ueh \ ^jm]hf [b^hg_ lh]^Z ihke_ i_j_eb\Zgby \ g_fklZeho e fhehdZZ \i_j\hf[b^hg_klZeh± e fhehdZIh mkeh\bxo ± o ± o Hl\_le Imklvm hj_oh\[ueh\ ijZ\hfdZjfZg_lh]^Zm hj_oh\[ueh\ e_\hf dZjfZg_< h[hbodZjfZgZo[uehm m hj_oh\Ihmkeh\bxm m m m < ijZ\hfdZjfZg_[uehhj_oh\\ e_\hfdZjfZg_[ueh hj_oHl\_lhj_oh\b hj_o Imklv o f iehsZ^v deZkkghc dhfgZlu lh]^Z o f iehsZ^v aZeZ IehsZ^v aZeZ gZ o ± o f [hevr_ iehsZ^b deZkkghc dhfgZlu Ih mkeh \bxo ±o o o IehsZ^vdeZkkghcdhfgZlujZ\gZf iehsZ^vaZeZ fHl\_lf Imklv j [Zghd Zi_evkbgh\h]h khdZ gZ kdeZ^_ lh]^Z gZ kdeZ^_ j e Zi_evkbgh\h]hb j ey[ehqgh]hkhdZ
Imklv fZkkZ h^ghc qZklb kf_kb jZ\gZ m ] lh]^Z \brgb ihreh m ] b kZoZjZm ]IjbwlhfkZoZjZihrehgZm ±m ] [hevr_q_f\brgbIh mkeh\bxm ±m m FZkkZh^ghcqZklbkf_kbjZ\gZ] ihwlhfm \brgb ihreh ] kZoZjZ ihreh ] d]]Hl\_ld]] bd]] Imklvo d]y[ehdk h^ghcy[ehgblh]^Zo d]y[ehdkh[jZebk ^jm ]hcy[ehgb
] ^ _ ± ± ±

i_j_fgh`blvqbkeZb jZa^_eblvgZ baj_amevlZlZ dhfZg^u\uq_klvj_amevlZldhfZg^u± ± ± Z

[

± ± ± ±

Z

[

\

]

^

Z o o ±o Hl\_l [ m ±m ± m g_y\ey_lkygZlmjZevgufqbkehfbebHl\_l g_lj_r_gbc\ gZlmjZevguoqbkeZo \ Z ± D D Hl\_l ] ±P P ±Pg_y\ey_lkygZlmjZevgufqbkehfbebHl\_l g_lj_r_gbc\ gZlmjZevguoqbkeZo ^ ± k k ±k Hl\_l _ N N ± N±g_y\ey_lkygZlmjZevguf qbkehfbebHl\_l g_lj_r_gbc\ gZlmjZevguoqbkeZo

?kebjZaghklvo gZlmjZevguoqbk_ejZ\gZlhh^ghbawlboqbk_eQ Z ^jm]h_qbkehQHq_\b^ghqlhijbex[hfQkms_kl\m_lqbkehQ ±lZdboiZj[_kdhg_qghfgh]hIjbmfgh`_gbbb ^_e_gbbkhhl\_lkl\mxsb_ iZjuqbk_ebf_xl\b^QQ ±lZdboiZjlZd`_[_kdhg_qghfgh]h

Ex[h_ gZlmjZevgh_ iylbagZqgh_ qbkeh [hevr_ ex[h]h gZlmjZevgh]h q_luj_oagZqgh]hqbkeZZ hgh\ k\hxhq_j_^v[hevr_ex[h]hgZlmjZevgh ]h lj_oagZqgh]h qbkeZ AgZqbl gZb[hevrbf ba qbk_e y\ey_lky qZklgh_ hl ^_e_gby r_klbagZqgh]h qbkeZ gZ iylbagZqgh_ qbkeh Z gZbf_gvrbf ± lj_oagZqgh_qbkeh Z Z Z Z Z Z [ m m m m m \ Z Z Z Z Z ] ±PP P Z o ±o o ±o Hl\_l [ m m ± m \ Hl\_l \ ]±] ] ±] Hl\_l ] WW± W W Hl\_l ^ o [ ±[ Hl\_l H N± N N Hl\_l ` j ± j j Hl\_l a P± P P Hl\_l b Q Q ± Q Hl\_l d ±Y Y ± Y Hl\_l e V± V V Hl\_l f O ± O O Hl\_l AZ^g_cdhfie_dkihemqblijb\_k ] l

Imklv \f_klbfhklv fZe_gvdh]h [b^hgZ jZ\gZ o e lh]^Z \f_klbfhklv [hevrh]h [b^hgZ o e < [hevrbo b fZe_gvdbo [b^hgZo kh^_j`blky oo e fhehdZIhmkeh\bxoo o o Hl\_le Q_j_ak f_`^mohaybghfb kh[Zdhc[m^_l± ± f q_j_ak ± ± fq_j_aWF±W f Imklv m GbdheZy ] hj_oh\ lh]^Z m FboZbeZ ] hj_oh\ m I_lb ] hj_oh\
GZclbjZaghklvqbk_eb J_amevlZl^_ckl\bymfgh`blvgZ J_amevlZl^_ckl\byjZa^_eblvgZ D j_amevlZlm^_ckl\byijb[Z\blvqbkeh Hlj_amevlZlZ^_ckl\by\uq_klvqbkeh ± ± ± ± ± ± ± ± GZclb kmffm qbk_e b GZclb ijhba\_^_gb_ qbk_e b

Z o o o ± o Hl\_l [ ]±]± ] ] Hl\_l \ m m m ± m Hl\_l ] P±P± P P Hl\_l ^ o o ±o Hl\_l _ j S ± S Hl\_l ` m ± m Hl\_l a N N ±N Hl\_l Z [

\ ]

Kdhjhklv l_iehoh^Z ih j_d_ jZ\gZ dfq AZ q l_iehoh^ ijhr_ejZkklhygb_ df Kdhjhklvkh[Zdb[hevr_kdhjhklbdhrdbgZ± fkihwlhfmq_ j_a k kh[ZdZ^h]hgbldhrdm

Q Q

Z [ \ ] ^

_ ` a ± ± ± b

QQ Q Q N N QQ Q Q Z

[

D o o o Hl\_l \ Z Z Z Hl\_l

\

]

^

[ m m m Hl\_l ] E E E E Hl\_l

>eygZoh`^_gbyg_ba\_klguopbnjijbrehkvj_rZlvmjZ\g_gby o o o o Z ± ± ± [ ± ± \ ± ± ±

Imklvf_gvr__baqbk_ejZ\gholh]^Z^jm]h_qbkehoKmffZwlbo qbk_eo oZ ihmkeh\bx o o o o F_gvr__baqb k_ejZ\gh^jm]h_qbkehjZ\gh Hl\_lb Imklvf_gvr__baqbk_ejZ\gholh]^Z^jm]h_qbkehoKmffZwlboqb k_eo oZ ihmkeh\bx o o o o F_gvr__baqbk_e jZ\gh^jm]h_qbkehjZ\gh Hl\_lb Imklvf_gvr__baqbk_ejZ\ghmlh]^Z^jm]h_qbkehjZ\ghmJZaghklv wlboqbk_em ±mZ ihmkeh\bx m ±m m m F_gvr__ba qbk_ejZ\gh^jm]h_qbkehjZ\gh Hl\_lb Imklvf_gvr__baqbk_ejZ\ghmlh]^Z^jm]h_qbkehjZ\ghmJZaghklv wlboqbk_em ±mZ ihmkeh\bx m ±m m m F_gvr__ba qbk_ejZ\gh^jm]h_qbkehjZ\gh Hl\_lb Z [ ± ± \

] ^ ±

Kdhjhklv^\b`_gbyih_a^ZbaJhklh\ZgZ>hgmjZ\gZ ± dfq Q_j_a q ihke_ ^\b`_gby f_`^m ih_a^Zfb [m^_l ± ± ± df Kdhjhklv\lhjh]hih_a^ZjZ\gZ dfqQ_j_a q f_`^mih _a^Zfb[m^_ljZkklhygb_± ± ± df

GZclbjZaghklvqbk_eb GZclbqZklgh_qbkeZb j_amevlZlZdhfZg^u GZclbqZklgh_qbk_eb Keh`blvj_amevlZludhfZg^b ± ± ± b l^Wlhk\hckl\hfh`ghknhjfmebjh \Zlv lZd d\Z^jZl gZlmjZevgh]h qbkeZ Q jZ\_g kmff_ Q ihke_^h\Zl_evguo g_q_lguogZlmjZevguoqbk_egZqbgZyk Z IjbY ffbgW fbg [ ijbY dfqZkW q

V YW f dff V YW df

Z IjbW qV df [ IjbV fW F

Y V W dfq Y V W fF

Z IjbV dfY dfk [ IjbV dfY dfq

W V Y F W V Y q

J Z E ±nhjfmeZ^ey\uqbke_gbyi_jbf_ljZijyfhm]hevgbdZ]^_ ZE±^ebguklhjhgijyfhm]hevgbdZ J Z ±nhjfmeZ^ey\uqbke_gbyi_jbf_ljZd\Z^jZlZ]^_Z ±^ebgZ_]h klhjhgu Z IjbZ kf J Z kf [ ijbJ f Z J f

Z ETU±nhjfmeZ^eygZoh`^_gby^_ebfh]hZ ih^_ebl_exEg_ihe ghfmqZklghfmThklZldmU D IjbT E U D ETU [ IjbZ T U E D±U T ± \ IjbZ E U T D±U E ± DZ`^uc qZk jZkklhygb_ f_`^m ih_a^Zfb m\_ebqb\Z_lky gZ df ihwlhfm q_j_a W qZkh\ ihke_ hlijZ\e_gby f_`^m ih_a^Zfb [m^_l V WQbkeh\ wlhcnhjfme_ hagZqZ_l kdhjhklv m^Ze_gby ih_a^h\ ^jm]hl^jm]Z Q_j_a W qZkh\ ihke_ \u_a^Z jZkklhygb_ f_`^m fZrbgZfb [m^_l ± ± W ±WdfQbkeh\ wlhcnhjfme_hagZqZ_lkdhjhklv k[eb`_gbyfZrbg Q_j_aWfbgjZkklhygb_f_`^mq_j_iZoZfb[m^_ljZ\ghV ±± ± W ±WkfQbkeh\ wlhcnhjfme_hagZqZ_lkdhjhklvk dhlh jhc i_j\Zy q_j_iZoZ ^h]hgy_l \lhjmx Ijb V i_j\Zy ^h]gZeZ \lhjmx W F Q_j_aWqZkh\ihke_\u_a^ZjZkklhygb_Vhl\_ehkbi_^bklZ^h>ylvdh\h [m^_ljZ\ghV ±Wdf Z

[

\

]

^

Z [ \ ] ^ _ Z Ijbm\_ebq_gbb^_ebfh]h\ QjZaqZklgh_lZd`_m\_ebqblky\ QjZa [ ijbm\_ebq_gbb^_ebfh]hb ^_ebl_ey\ h^bgZdh\h_qbkehjZaqZklgh_g_ baf_gblky Z ± ± ± [ ± ± ± ± D\Z^jZlqbkeZg_fh`_lhdZgqb\Zlvkypbn jZfbDm[qbkeZfh`_lhdZgqb\Zlvkyex[hcbapbnj FZrbgZaZq ijhreZimlvZ E df IjbZ E Z E df IjbZ E Z E df IjbZ E Z E df Z [ \ ± ± ± ] ± ± Q_j_a^g_ch[s__qbkehijhqblZgguokljZgbpdgb]bdhlhjmxqblZ_l K_j_`Z[m^_ljZ\gh Z LheyaZwlh\j_fyijhqblZ_l kljZgbpdgb]bLZddZd! lhLheyi_j_]hgblK_j_`m &

:< &' :'

'

$

%

K

J

'

.

Z

[

ImklvfZkkZh^ghcqZklbkieZ\ZjZ\gZm ]lh]^ZkieZ\kh^_j`blm ] f_^bm ]heh\Zb m] pbgdZJZaghklvfZkkf_^bb heh\ZjZ\gZm ±m ]Z h[sZyfZkkZkieZ\ZjZ\gZm m m ]Ihmkeh\bx m ±m m m FZkkZh^ghcqZklbkieZ\ZjZ\gZ]Z fZkkZdmkdZ ] Hl\_l] Imklv fZkkZ h^ghc qZklb kieZ\Z jZ\gZ o ] lh]^Z kieZ\ kh^_j`bl o ] Zexfbgbyo ]f_^bo ]fZj]ZgpZb o] fZ]gbyJZaghklvfZkkf_^bb fZ] gbyjZ\gZo ±o ]Z h[sZyfZkkZkieZ\ZjZ\gZo o o o ]Ih mk eh\bxo ±o o o FZkkZh^ghcqZklbkieZ\ZjZ\gZ]Z fZkkZdmkdZ ]Hl\_l] F PQS]^_F ±fZkkZ[jmllhP±fZkkZh^gh]hba^_ebyQ±qbkeh ba^_ebcS±fZkkZmiZdh\dbIjbP ]Q j ] F PQS ] d] Z IjbY dfqW q [ IjbV fY fk

V YW df W V Y k

Z IjbZ kfE kf J Z E kf [ IjbJ fE f Z J ±E ± ± f IjbJ f

Z J f

ImklvfZkkZh^ghcqZklbkieZ\ZjZ\gZ]d]lh]^ZfZkkZZexfbgbyjZ\ gZ]d]fZkkZfZ]gby]d]H[sZyfZkkZkieZ\ZjZ\gZ]] d]Z jZa ghklv fZkk Zexfbgby b fZ]gby ] ± ] d] Ih mkeh\bx ] ± ] ] ] FZkkZh^ghcqZklbkieZ\ZjZ\gZd]fZkkZkieZ\ZjZ\gZ d]Hl\_ld] ImklvI_lykh[jZem ]jb[h\lh]^ZFblykh[jZem ]jb[h\
Z o o o o o Hl\_l [ m ±m \ \ \ Hl\_l \ Z Z Z Z Z Hl\_l ] E±E E E E Hl\_l Z [ JZ\guf_`^mkh[hcneZ`db : b?%b )&'b D Ebkluh^ghcl_ljZ^bjZ\guf_`^mkh[hclZddZdhgbkh\iZ^Zxlijb gZeh`_gbb^jm]gZ^jm]Z
Hlj_ahd:
6 DE kf

6:
6.107 kf IehsZ^v dZ`^h]h balj_ m]hevgbdh\.10b FLDjZ\gZ6.107 kf IjbZ kf

6 D Ff

?keb6 D D kflh Z kf Imklv:
Z

[

\

]

^

Z ijbo jZ\_gkl\ho o g_\_jgh [ ijbo jZ\_gkl\h o g_\_jgh \ ijbex[hfPjZ\_gkl\hP g_\_jgh ] ijbex[hfYjZ\_gkl\hY E\_jgh ImklvDE Flh]^ZijbE EDE DE DED FD²ijhba \_^_gb_m\_ebqbehkvgZZijbE EDE DE DED FD² ijhba\_^_gb_m\_ebqbehkvgZZIjbE EDE D E DE F±ijh ba\_^_gb_m\_ebqbehkv\ jZaZ Z GZbf_gvr__q_luj_oagZqgh_qbkehjZ\ghihwlhfm [ Z [ b l^ m o Z ^_lZe_c m o Z Z AZq fhlhpbdebklijh_^_l[hevr_\_ehkbi_^bklZgZ± df [ AZq jZ[hlugZklZgd_k QIMjZ[hqbc k^_eZ_lgZ± ^_ lZe_c[hevr_ \ FZkkZ klZevguo ^_lZe_c [hevr_ fZkku Zexfbgb_\uo ^_lZe_c gZ ± ± ] GZ\_kvimlvihlj_[m_lky q L_iehoh^mihlj_[m_lky qqlh[uijh ieulvlm^Zb h[jZlgh

± ± ± ± ± ± ± ± ± IehsZ^vijyfhm]hevgbdZjZ\gZ kf >ebgZijyfhm]hevgbdZjZ\gZ kf $

%

'

6:
& :<

6$%2 6%2& 6&2' 6$2' 62&('

6$%&' kf

6$%&' Ff

Z IjbW FY fk [ _kebV dfY dfq \ _kebW FV f

V YW f W V Y q Y V W fk

Z IjbZ f ^fE f ^f J Z E ^f f ^f [ ijbJ ^fE kf Z J±E ± ± kf

< q jZkklhygb_f_`^mih_a^Zfb[m^_ljZ\gh± df Z df fdff f^f fkf f [ f ^ff ^f ^fkf ^ff ^f ± ± GZ\lhjhfjbkmgd_jZa\_jgmlvijhlb\qZkh\hcklj_edbgZ`_elmx b kbgxxnb]mjuZ g_\_kvjbkmghddZdmdZaZgh\ j_r_[gbd_ 6$ ff6< ff IehsZ^vd\Z^jZlZkhklhjhghc^fjZ\gZ ^f

LZd dZd f kf kf lh iehsZ^v ijyfhm]hevgbdZ jZ\gZ kf >ebgZ]jy^dbjZ\gZ f RbjbgZkZ^h\h]hmqZkldZjZ\gZ f IehsZ^viheyjZ\gZ ± df f ]Z LZddZdf f f bdff flhiehsZ^viheyjZ\ gZ ± f ]Z IehsZ^vijyfhm]hevgbdZjZ\gZ ^f f Z ]Z f]Zf f khlhd fZ f [ f ]Zdf ]Z f ]Z ]Z]Z ]Z \ ]Z Z]ZZ Z Z Zf Zdf ]Z Z Z Z ] Z Z Z ]ZZf f f ]ZZ IehsZ^vh^ghcl_iebpujZ\gZ fZ lZddZd]Z f lhgZlZdhfmqZkld_ihf_klblky l_iebp IehsZ^vi_j\h]hh]hjh^ZjZ\gZ ± ± f ZIehsZ^v\lhjh]hh]hjh^Z ± f Z

AgZqblgZdZ`^uch]hjh^ihlj_[m_lky d]m^h[j_gbcZ gZh[Z h]hjh^Zgm`gh d]m^h[j_gbc >eylh]hqlh[uaZk_ylvljbiheyihlj_[m_lky d] l k_fyg K lj_oihe_ckh[_jml p l ir_gbpu IehsZ^v \Zgghc b dmogb jZ\gZ f iehsZ^v dhfgZl jZ\gZ fIehsZ^v\k_cd\Zjlbju f GZihdjZkdmiheZihlj_[h\Zehkv ] d] djZkdb Z

[

\

]

^

Z [ \ ] ^ _ Z [

\ ]

<_jgufby\eyxlkyml\_j`^_gbyZ \ ] Ml\_j`^_gby[ ^ y\eyxlky g_\_jgufb \_jklZ dff fLZddZd ! ! ]Zlh^_kylbgZ[hevr_]_dlZjZ

Z LZddZdf kff kf kflh 6:<' kf [ lZddZd^fkf kf^fkf kflh 6:<' kf Z 6:
J:FK< kf 6$%&0 kf JK'(0 kf 6&'(0 kf J.0() kf 6.0() kf 6$%').0 6$%&06&'(0 6.0() Ff J$%').0 :<

IehsZ^viheyjZ\gZ f ]Z Z Z ]ZZ fdf ]Z f df ]Z Z f df Z f [ kf ff ff^f ff ff LZddZd]Z khlhdlhmqZkldbihemqbeb jZ[hqbo AZ^g_ckwdhghfe_gh kf dh`b >ebgZ\lhjhcklhjhgulj_m]hevgbdZjZ\gZ kf^ebgZlj_lv_c klhjhgu ± ± kf I_jbf_lj lj_m]hevgbdZ jZ\_g kf f ^fkf GZklZ\gbd\uihegblaZ^Zgb_aZ qZkh\ Klhbfhklvjmq_djZ\gZ dhi__dklhbfhklvdZjZg^Zr_c dhi__d Ke_^h\Zl_evgh klhbfhklv l_ljZ^_c jZ\gZ ± ± dhi__dZ bop_gZ dhi_cdb NhjfmeZ^eygZoh`^_gbyfZkkumjh`ZyF bf__l\b^F P 6]^_P ±mjh`Zcghklv6±iehsZ^vmqZkldZ Z ?keb6 ]ZP p]Z F P6 p [ ?keb6 fF d] P 0 6 d]f Z

[

\

Z ± ± [ ±± ±± ± ± Z =jZgyfbijyfhm]hevgh]hiZjZee_e_ibi_^Zy\eyxlky$'.($%&' $%).()*.&'.*%&*) [ J_[jZ:'$($%(..3.*3&()%)%&&**) \ <_jrbgu:%&'()*.J_[jZ:?()$%%)ijbgZ^e_`Zl]jZ gb :?)%<_jrbgu <K*)ijbgZ^e_`ZlaZ^g_c]jZgbJ_[jZ(.)*%& jZ\guj_[jm$']jZgv()&.jZ\gZ ]jZgb:eyba]hlh\e_gbydZjdZkZihgZ^h[behkv kf ijh\hehdb

Z ?kebZ kfE kfk kf 6ih\_joghklb DEDFEF kf [ ?kebZ ^fE ^fk ^f 6ih\_joghklb ^f IehsZ^v \g_rg_c ih\_joghklb [ZdZ jZ\gZ kfZ h[sZyiehsZ^vjZ\gZ kf IehsZ^v ih\_joghklb [hdh\uo kl_ghd Zd\ZjbmfZ jZ\gZ kf IehsZ^vih\_joghklbdm[ZjZ\gZ6 D]^_Z ±^ebgZj_[jZdm[Z ?kebZ kflh6 kf Z ?kebZ E 6 DEDFEF k k k k [ ?kebZ 6 DEDFEF Ek Ek EFEF \ 6 DEDFEF DEDFEF ] _kebZ E6 DEDFEF DDDFDF D DF Z

[

Z ]

\ [ ^

]

^

\ _

Z kf kf ^f [ Z f ! f

\ ^f f ] ]Z f df

6 D ± nhjfmeZ ^ey jZkq_lZ iehsZ^b d\Z^jZlZ _keb ^ebgZ klhjhgu jZ\gZZ Z 6 ^fZ ^f \ 6 fZ f [ 6 kfZ kf ] 6 kfZ kf

LZddZd]Z f f b l^lh ^ebgZb rbjbgZfh]mljZ\gylvkykhhl\_lkl\_gghb fb f b f bl^ Z Z Z Z Z LZddZdf flhZdj ]Z IehsZ^vnb]mjujZ\gZ ± ± f Bah[jZ`_ggu_gZjbkmgd_nb]mjug_jZ\guIehsZ^bwlbonb]mjjZ\ gu^jm]^jm]mZ i_jbf_ljug_jZ\gu^jm]^jm]m eydm[ZiehsZ^vih\_joghklb6 DkmffZ^ebgj_[_j/ D]^_Z ² ^ebgZj_[jZdm[Z?kebZ kflh6 Ff/ kf IehsZ^vih\_joghklb[jmkZ6 ^fAgZ qbl^ey__ ihdjZkdbihlj_[m_lky ] djZkdb

IehsZ^vmqZkldZ6 fi_jbf_ljmqZkldZJ f G_agZcdZ^h]hgblRimglbdZq_j_a± fbg Z

± [

± ± ± ± Z «²dZ`^ucke_^mxsbcqe_gjy^ZgZ[hev r_ij_^u^ms_]h [ «²dZ`^ucke_^mxsbcqe_gjy^Z\ jZaZ[hev r_ij_^u^ms_]h \ «²dZ`^ucke_^mxsbcqe_gjy^Z\ jZaZ[hevr_ ij_^u^ms_]h ] «²qbkeZjy^Z²d\Z^jZlui_j\uogZlmjZevguo qbk_e ^ «²dZ`^ucke_^mxsbcqe_gjy^Zk q_lguf djZlguf ghf_jhfgZ[hevr_ij_^u^ms_]hqe_gZk q_lgufghf_jhf dZ`^uc ke_^mxsbc qe_g jy^Z k g_q_lguf g_ djZlguf ghf_jhf gZ [hevr_ij_^u^ms_]hqe_gZk g_q_lgufghf_jhf _ «²dZ`^ucqe_gjy^ZjZ\_gdm[mqbkeZy\eyxs_ ]hkyghf_jhfwlh]hqe_gZ\ jy^m

9$ Ff6$ Ff 9< Ff 6< Ff 9K Ff 6K Ff 9D Ff 6D Ff 9F Ff 6$ Ff 9$ Ff9F Ff 9' Ff 6' Ff Z 9 kf [ 9 ^f \ f ^ff ^f9 ^f ] ^fkf kf^fkf kf9 kf ^ f kf^f kf9 kf

6 D E ±nhjfmeZ iehsZ^b gb`g_c ]jZgb iZjZee_e_ibi_^Z ]^_ Z ± ^ebgZE±rbjbgZ9 D E F 6 FF 9 6±nhjfmeZ\ukhluk]^_9± h[t_fiZjZee_e_ibi_^Zijb6 Ff 9 Ff k kf 9 DEFD 9EF ijbk fE f9 f Z f IehsZ^biheZb iehsZ^vihlhedZjZ\gu fiehsZ^bdZ`^hcba kl_gjZ\gu fZ dZ`^hcba^\mo^jm]bokl_g f

9 D ±nhjfmeZh[t_fZdm[Zk j_[jhfZ_kebZ ^f9 ^f _kebZ ^fkf kf9 kf 6 D ±nhjfmeZiehsZ^bih\_joghklbdm[Z_keb6 kf Z Z Z kf9 D kf

Z ^f kf kf kf kf^f kf kf kf kf [ f ^f ^f ^f ^ff ^f ^f ^f ^f \ ^f ^f ^f f ^f kf kf kf f ^f H[t_fdhfgZlu9 fqlhjZ\ghh[t_fmkh^_j`Zs_]hky\ g_c\ha^moZ

Z

[

\

]

^

Z [

Z [

\ ] ± ± \ ]

Ml\_j`^_gbyZ ±\ y\eyxlky\_jgufb

>_kylv[hq_d\h^ufh]ml\f_klblv \_^_j\h^u

Z H[s__j_[jh:KgZijbf_jbf_xl]jZgb:
Imklvo ]ZiehsZ^vmqZkldZlh]^Zo ]ZiehsZ^vmqZkldZJZagb pZiehsZ^_cb mqZkldh\jZ\gZo ±o ]ZIhmkeh\bxo ±o o o IehsZ^vmqZkldZjZ\gZ]ZiehsZ^vmqZkldZjZ\gZ ]Z Imklv m ]Z iehsZ^v mqZkldZ lh]^Z m ]Z iehsZ^v mqZkldZ JZagbpZ iehsZ^_cb mqZkldh\ jZ\gZ m±m ]Z Ih mkeh\bx m±m m m IehsZ^vmqZkldZjZ\gZ]ZiehsZ^vmqZkldZ ]Z ± ± ±

ibglZ rlhn ]Zeehg \_^jh [mr_ev [Zjj_ev
kf

9 kf

9 ^f

H[t_f kZjZy jZ\_g 9 f FZkkZ k_gZ \ kZjZ_ jZ\gZ p f ^f ^f ^f ^ff ^f ^f ^f ^ff ^f ^f ^f ^fkf ^f kf ^f 9 DEFF 9DE ijb9 FfZ kfE Ffk kf

Z 9 DEF_kebZ ^fE ^fk ^f9 ^f [ Z 9Ek _keb 9 Ff E Ff k kf Z kf \ E 9DF _keb 9 kf Z kf k kf E kf ] ZE 9F_keb9 ^fk kfZE ^fIjhba\_^_ gb_DE\ujZ`Z_liehsZ^vgb`g_c \_jog_c ]jZgbiZjZee_e_ibi_^Z

Lhqdb :<K ^_eylhdjm`ghklvgZ^m]b:K:<K< Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

H: kf H? kfH< kf! H? kf JZkklhygb_ hl p_gljZ djm]Z ^h ex[hc lhqdb \gmljb djm]Z f_gvr_ _]h jZ ^bmkZJZkklhygb_hlp_gljZdjm]Z^hex[hclhdb\g_djm]Z[hevr__]hjZ ^bmkZEx[hchlj_ahdkh_^bgyxsbc\gmlj_ggxxb \g_rgxxlhqdmdjm]Z i_j_k_dZ_lhdjm`ghklv Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

HF HD kfff Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

K: K< kf'$ '% kf

Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ %

0

$

3

LhqdbgZoh^ysb_kygZjZkklhygbbkfhlFe_`ZlgZhdjm`ghklbk p_g ljhf\ lF bjZ^bmkhfkfLhqdbgZoh^ysb_kygZjZkklhygbbkfhlJ e_`ZlgZhdjm`ghklbk p_gljhf\ lJ bjZ^bmkhfkfLdFJ kf kfkf kflhwlbhdjm`ghklbi_j_k_dZxlky\ l: bl<dhlhju_gZ oh^ylkygZjZkklhygbbkfhll F bkfhll J < gZklhysbcfhf_glkib^hf_ljihdZau\Z_lkdhjhklvdfqAgZqbl g_ kgbab\ kdhjhklv rhn_j gZjmrbl ijZ\beZ ^hjh`gh]h ^\b`_gby Ijb kgb`_gbbkdhjhklb^hdfqklj_edZkib^hf_ljZi_j_^\bg_lkygZ^_e_ gby\e_\hIjbhklZgh\d_Z\lhfh[beykib^hf_ljihdZ`_lkdhjhklvdfq < gZklhys__\j_fy\ [Zd_e [_gabgZZ ?keb\eblv_s_e [_gabgZ lhklj_edZi_j_^\bg_lkygZ^_e_gbc\ijZ\h[ _keb[m^_lbajZkoh^h\Zgh e [_gabgZlhklj_edZi_j_^\bg_lkygZ^_e_gbc\e_\h < gZklhys__\j_fygZqZkZoq fbgZ ?kebfbgmlgmxklj_edmi_ j_^\bgmlvgZaZ^gZ[hevrbo^_e_gbylhqZkuihdZ`mlq fbg[ _keb fbgmlgmx klj_edm i_j_^\bgmlv \i_j_^ gZ fZe_gvdbo ^_e_gbc lh qZku ihdZ`mlq fbg Z

[

\

± ±

]

^

H^gZ de_ldZ gZ jbkmgd_ khhl\_lkl\m_l _^bgbpZf Ihwlhfm dhhj^bgZlu^jm]bolhq_d\ K : ' Z ^f kfkf kf [ ^f kfkf kf Z p d]d] d] [ l d]d] d]

\ kf kf ] kf kf

\ d] d] ] d] d]

H[t_fdm[Zk j_[jhf^fjZ\_g9 ^f kf ff
H[t_f[ZdZjZ\_g9 kfiehsZ^vgZjm`ghcih\_jo ghklbjZ\gZ6 FfGZ ihdjZkdm [ZdZ ihlj_[m_lky ] djZkdb < [Zd fh`gh \eblv e [_gabgZ H[t_fi_j\h]hdm[Z[hevr_h[t_fZ\lhjh]hdm[ZgZ± ± kfIehsZ^vih\_joghklbi_j\h]hdm[Z[hevr_gZ± kf

Bah[jZ`_ggZygZjbkmgd_nb]mjZkhklhblba de_lhdihwlhfm __ iehsZ^vjZ\gZ ff Imklv o ] \_kbl imklZy [ZgdZ lh]^Z o ] \_kbl \Zj_gv_ H[sZy fZkkZ [Zgdb k \Zj_gv_f jZ\gZ o o ] Ih mkeh\bx aZ^Zqb o o o o ImklZy[ZgdZ\_kbl]\Zj_gv_\_kbl ]

ImklvgZdjur_kb^_ebm ]hem[_clh]^ZgZg_cklZehm ± ]hem[_cIhmkeh\bx m ± m m Imklv]\Z]hgh\[ueh\ khklZ\_lh]^Z]± \Z]hgh\klZeh\ khklZ \_Ihmkeh\bx ]± ] ± ] ± ± ± ± ±

:< :K :? :' kf

Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

LdDJ kfkfkf kflhhdjm`ghklbk p_gljhf\ l D bl J b jZ^bmkhfkfb kfkhhl\_lkl\_gghi_j_k_dZxlky Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

LdH? kf!kfkf kflhhdjm`ghklvk p_gljhf\ lH bl? b jZ^bmkhfkfb kfkhhl\_lkl\_gghg_i_j_k_dZxlky H[t_fnb]mjujZ\_g kf

FZkkZ [_gabgZ \ [_gah[Zd_ Z\lhfh[bey jZ\gZ ] d] ] Z o ± o ± o o ] j ± j ± j j [ m ± m ± m m ^ o o ± o o o \ ] ] ] ±] _ m ±m ± \ \ \

?keb E T U D ETU Z ± ± [ \ ]

qZklvhlj_adZ[ aZdjZr_gZ qZklvd\Z^jZlZ\ aZdjZr_gZ qZklvdjm]Z] aZdjZr_gZ qZklvlj_m]hevgbdZ^ aZ djZr_gh qZklb ijyfhm]hevgbdZ _ aZdjZr_gh qZklb djm]Z ` Z aZdjZr_gZ

qZklblj_m]hevgbdZa aZdjZr_gh qZklbijyfhm]hev gbdZb aZdjZr_gh qZklbd\Z^jZlZd aZdjZr_gh qZkl_cdjm]Z e aZdjZr_gZ qZklv d\Z^jZlZ f aZdjZr_gh qZklb ijyfhm]hev gbdZg aZdjZr_gh qZkl_cdjm]Zh aZdjZr_gh qZkl_cd\Z^jZ aZdjZr_gh

lZ

6$21' 6'(01 6(%&0

6$%&'

6$%&' Ff6$(23 6)2*' 621&* 6(21% 6$23' 621*3 6+()* 6(%&) 6$')( 6(+32 623&' 6$%&' kf

Z ]

f kf

q fbg

l d] ^ f ff [

kmlhd q _ f kf \

H^gZ k_^vfZy qZklv hlj_adZ h^gZ khlZy qZklv dbeh]jZffZ h^gZ ^\_gZ^pZlZy qZklv kmlhd h^gZ lj_lvy qZklv ^hjh]b h^gZ q_l\_jlZy qZklv^ugbh^gZ\lhjZyqZklvy[ehdZ GZieZlv_mrehkf kfldZgb

GZ fZl_fZlbdm I_ly ihljZlbe fbg fbg gZ bklhjbx ± fbg

G_aZdjZr_gghchklZeZkv $

qZklvd\Z^jZlZ &

G_hlf_q_ggufbhklZebkv

%

hlj_adZ:<qlhkhklZ\ey_lkf

²^\_k_^vfuo ²ljbq_l\_jluo ²^_\ylv^_kyluo ²r_klv^\_gZ^pZluo ²ljblukyqguo ²iylv^\_klbkh jhdk_^vfuo ²k_fv^_\yghklhlukyqguo

Z

[ \ ] ^ _ `

qZklv ]h^Z < yg\Zj_ ^_gv ihwlhfm hgkhklZ\ey_l ]h^Z< Zij_e_^g_cihwlhfmhgkhklZ\ey_l ]h^Z< n_\jZe_^g_cihwlhfmhgkhklZ\ey_l ]h^Z H^bg ^_gv khklZ\ey_l

qZklv yg\Zjy K\h[h^gufhlmq_[u\ yg\Zj_[ueb^g_cqlhkhklZ\ey_l qZklv f_kypZ Mq_[guo ^g_c \ yg\Zj_ [ueh ± qlh khklZ\ey_l qZklvf_kypZ < yg\Zj_ ^_gv ihwlhfm ^_gv khklZ\ey_l

Ihmkeh\bxdf khklZ\ey_l k_ygh

iheyZ jh`vx ihey

qZklviheyAgZqblir_gbp_caZ

>ebgZh^ghcbaiylbjZ\guoqZkl_cgZdhlhju_jZa^_e_gZ^hjh]Z jZ\gZ dfAgZqbl ^hjh]bkhklZ\eyxl dfHklZehkv aZZknZevlbjh\Zlv± df < h^ghcba jZ\guo qZkl_c gZ dhlhju_ fh`gh jZa^_eblv qbkeh kh[Zdbo[m^_l kh[ZdbIhwlhfm \k_okh[Zdwlh kh[ZdG_\hreh\ mijy`dm± kh[Zd H^gZbajZ\guoqZkl_cgZdhlhju_fh`ghjZa^_eblvfZkkmkZoZ jZjZ\gZ ]AgZqbl qZkl_ckZoZjZjZ\gu ] d]]HklZehkv± ] kZoZjZ ebgZ\k_c^hjh]b df Ihmkeh\bx

imlbjZ\gudfagZqbl imlbjZ\gZ df>ebgZ\k_]himlb df Ihmkeh\bx

l_ljZ^bkhklZ\eyxl kljZgbp agZqbl l_ljZ^b khklZ\eyxl kljZgbpu
>ey ^_lkdh]h kZ^Z \ayeb f fZl_jbb ^ey yke_c \ayeb f fZl_jbbAgZqbl^eyyke_c\ayebgZ ± f fZl_jbb[hevr_q_f^ey^_lkdh]hkZ^Z Z

[

\

]

± ± LZddZdfZdkbfZevgh_jZkklhygb_f_`^mlhqdZfbdjm]Z g_ ij_\u rZ_l^ebgm^bZf_ljZwlh]hdjm]Z lh ^ey djm]Z k ^bZf_ljhf kf gZc ^mlkylhqdbf_`^mdhlhjufbkfkfkfghg_kms_kl\m_llhq_d f_`^mdhlhjufbjZkklhygb_kf>eyhdjm`ghklbjZ^bmkhfkfgZc ^mlkylhqdbgZjZkklhygbbkfkfbebkfgh g_kms_kl\m_l lh q_df_`^mdhlhjufbkf Hlj_ahdgZau\Z_lky^bZf_ljhf_kebhgkh_^bgy_llhqdbhdjm` ghklbb ijhoh^blq_j_a__ p_glj q fbg [ q fbg \ q fbg ] q fbg ^ q fbg _ hl q fbg Z

Z fbg k [

q k

\ q k

fbg k ^ fbg k _ fbg k ]

IhdZaZgby qZkh\ \ a_jdZe_ b bo ihdZaZgby \ ^_ckl\bl_evghklb kbff_ljbqguhlghkbl_evgh\_jlbdZevghchkbijhoh^ys_cq_j_apbn jub Ihwlhfmq \a_jdZe_khhl\_lkl\mxlq \^_ckl\bl_evghklb q \a_jdZe_±q \^_ckl\bl_evghklbq fbg \ a_jdZe_ ± q fbg\ ^_ckl\bl_evghklbq fbg\ a_jdZe_±q fbg\ ^_ckl\b l_evghklbWlbihdZaZgbykh\iZ^Zxldh]^ZfbgmlgZyb qZkh\Zyklj_e db gZoh^ylkyh^gh\j_f_gghgZ\_jlbdZevghchkbl_\ q bq

Z Hdjm`ghklbk p_gljZfb\ l: b < h^bgZdh\h]h jZ^bmkZ bf_xl h[sb_ lhqdb_kebwlhljZ^bmk[hevr_ kf [ Hdjm`ghklbk p_gljZfb\ l: b< h^bgZdh\h]hjZ^bmkZg_i_j_k_dZxlky ^jm]k ^jm]hf_kebwlhljZ^bmkf_gvr_ kf Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

>eygZoh`^_gbylhq_dK b'm^Ze_gguogZ kf hl : b < gZ^h ijh\_klb hdjm`ghklv\ l: bl< jZ^bmkhfkfWlbhdjm`ghklbi_j_k_dZxlky\ l K b 'ld:< kfkfkf kf Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

>eygZoh`^_gbyhdjm`ghklbk p_gljhf\ lHlhq_dm^Ze_gguohlD gZjZk klhygb_kfgZ^hijh\_klbhdjm`ghklvk p_gljhf\ lD bjZ^bmkhfkf LdHD kf:DH< kfkfff kffflhhdjm`ghklb i_j_k_dmlky\ lK b'm^Ze_gguohllD gZkf H[t_fh^gh]h[ehdZjZ\_g ^fh[t_fkl_gu ^fAgZqblgZkljhbl_evkl\hkl_guihreh [eh dh\ Imklvo q_eh\_daZgbfZ_lky\ dZ`^hck_dpbblh]^Zihke_\oh` ^_gby\ dZ`^mxbagbo_s_ihq_eh\_dZ\k_]h[m^mlaZgbfZlvkyo q_eh\_dZIhmkeh\bx o o o ± o Imklv\ dZ`^hfdeZkk_m mqZsbokylh]^Z\ dZ`^hfdeZkk_klZg_lm mqZsboky H[s__ qbkeh mqZsboky [m^_l m q_eh\_dZ Ih mkeh\bx m m m ± m

AZdjZr_gh

djm]Zk p_gljhf\ lhqd_H

Lde fhehdZkhklZ\ey_l ehdZ

Z IehsZ^v [ iehsZ^v

qZklv[b^hgZlh\ayeb \k_]hfh

d\Z^jZlZjZ\gZ kf

d\Z^jZlZjZ\gZ kf

qZklv h]mjph\ jZ\gZ d] ihwlhfm aZkhebeb d] h]mjph\

GZ[emadbihreh f ldZgbgZieZlvyihreh f ldZgbHklZehkv± ± f ldZgb

qZklv\j_f_gbiZjlbbjZ\gZfbg fbgihwlhfmiZj

lbyijh^he`ZeZkv fbg q fbg

qZklva_jgZjZ\gZ lihwlhfm\k_]h\ \Z]hg_[ueh l a_jgZ

>ebgZ^bZf_ljZhdjm`ghklb[hevr_^ebguex[h]hhlj_adZkh_^bgyxs_]h ^\_ex[u_lhqdbhdjm`ghklbl_:
ff kfkf

f

Z

± ± Ijh]jZffZ\uqbke_gbc jZa^_eblvgZ jZa^_eblvgZ keh`blvb j_amevlZldhfZg^u baj_amevlZlZdhfZg^u\uq_klv j_amevlZldhfZg^u [ ± ±

>\_klb<_jrhdK_dmg^Z>_e_gb_MjZ\g_gb_>_ pbf_ljB]j_dRljbo;Zjj_evNmgl?^bgbpZF_jZ EbljIjhfbee_ B\ZgB\Zgh\bqij_h^he_e Z Y DYdf Z ?kebZ Y DY [ ?kebZ Y DY Fhlhpbdebkl b \_ehkbi_^bkl \klj_lylky q_j_a qZkZ 6$%& kf6$&' 6$%& kf6$%2 kf6%&2 6$%2 kf

M ijh^Z\pZhklZehkv± Z ±Z d]y[ehd< ihemq_g ghf\ujZ`_gbbZ fh`_lijbgbfZlvgZlmjZevgu_agZq_gbyhl^h GZq_jlbf hlj_ahd :H \ de_lhd Wlhl hlj_ahd fh`gh jZa^_eblv gZ b jZ\guo qZkl_c ih b de_ldb khhl\_lkl\_ggh dZ`^Zy Lh]^Z :K :H :< :HZ bajbkmgdZ \b^gh qlh :K :< beb :gZeh]bqgh:? :H$' $2b :? $'beb Z Hlj_ahd:

?^bgbqguchlj_ahdjZa^_ebebgZb jZ\guoqZkl_cihb de_ldbdZ` ^ZyLh]^ZH: HKH< HKH: H
< K '

:

< K '

[

E_\__\k_ogZemq_jZkiheh`_gZlhqdZ:

ijZ\__\k_o'

< ihjy^d_\hajZklZgby^jh[bjZkiheZ]ZxlkylZd < ihjy^d_m[u\Zgby^jh[bjZkiheZ]ZxlkylZd ! ! ! ! ! Z

[

!

\

]

!

Z

!

[

\

!

]

!

ihwlhfm : gZdhhj^bgZlghfemq_e_`ble_\__< [ ! ihwlhfm1 gZdhhj^bgZlghfemq_e_`ble_\__F Z

[

Z

\

]

^

²h^gZiylZy ²h^gZ\hkvfZy ²^_kylvh^bggZ^pZluo ² ^\_gZ^pZlv ^\Z^pZlv lj_lvbo ² ^\Z^pZlv iylv^_kyl k_^v fuo ² h^gZ r_klv^_kyl i_j\Zy ² h^bggZ^pZlv ^_\yghkluo ²k_fgZ^pZlvkhluo ²klhh^bggZ^pZlvklh^\Z^pZluo ²klh^\_klbk_fv^_kylk_^vfuo ²iylgZ^pZlviylvkhl\hk_fv^_ kyl\lhjuoQbkebl_ebwlbo^jh[_cjZ\gukhhl\_lkl\_ggh AgZf_gZl_eb khhl\_lkl\_ggh

lh kh\iZ^Zxl lhqdb : K b ? Z lZd`_< ' b D LZd dZd

b

Z Lj_m]hevgbd :

qZklv hl q_luj_om]hevgbdZ

qZklvhlq_luj_om]hevgbdZ:
Z [

\ ]

>eygZoh`^_gbydjZlqZcr_]himlbgm`ghk^_eZlvjZa\_jldmdm[Z

$

%

:<±djZlqZcrbcimlvZ \k_]hlZdboiml_c Z ]h^ kmlhdkmldb [ g_^_ey± kmlhdkmldb f_ljZ ] e kfkf e \ f ^p^p

]h^Z

g_^_eb

Z D qZklvdm\rbgZIjbZ D ijbZ

D

D ijbZ

?keb ^ebgZ klhjhgu d\Z^jZlZ jZ\gZ Z lh _]h i_jbf_lj J Z Z kmffZ^ebglj_oklhjhgZAgZqbl^ebgZh^ghcklhjhgukhklZ\ey_l i_jbf_ljZZ ^ebgZlj_oklhjhgkhklZ\ey_l i_jbf_ljZ fbgmlZkhklZ\ey_l mjhdZ

f_lj khklZ\ey_l ^hkdb

qZklvmjhdZihwlhfmfbgmlkhklZ\eyxl

qZklv ^hkdb ihwlhfm f_ljZ khklZ\eyxl

hlq jZ\gZ fbgZ hlq khklZ\eyxl fbg

q fbg:g^j_cb]jZe\ ohdd_c

qZklvhl qbkeZ fZrbg ihwlhfm ± kbgbofZrbgkhklZ\eyeb hlh[s_]hqbkeZfZrbg fZrbgZkhklZ\ey_l

qZklv Zd\ZjbmfZ jZ\gZ e lh \k_]h Zd\Zjbmf \f_sZ_l e \h^u LZd dZd

Z ?kebjZ^bmkdjm]ZU ^flh_]h^bZf_lj G U ^fLZd dZd^f!^flhbaijyfhm]hevgh]hebklZnZg_jujZaf_jZfb^fo ^fdjm]jZ^bmkZ^f\uj_aZlvg_evay [ ijbU ^fG U ^f^fd ^fdjm]fh`gh\uj_aZlv \ ijbU ^fG U ^f^f^f^fdjm]fh`gh\uj_aZlv [ ! Z

Z kmldb

\

] g_^_ebkmlhd g_^_eb[ kmlhd g_^_eb

Z ] ] \ ]

[ ] d]] ] ] d]

IehsZ^v\k_]hmqZkldZjZ\gZ f Fhlhpbdebklu\klj_lylkyq_j_a qZkZ Z ] ! ] [ ] ! ] Z ] ][ ] ] Z
ehdb \ \ujZ`_gb_ Z ± E khhl\_lkl\m_l ^ebg_ ijh\hehdb hklZ\r_cky ihke_ hlj_aZgby ] \ujZ`_gb_ Z ± E ± F bf__l lhl `_ kfuke qlh b \ujZ`_gb_Z ±EF IjbZ E F D±EF ± ± D±E±F ±± ± Jbkmgdb\uiheg_guk mf_gvr_gb_f\ jZaZ &

'

(

Z K' kf kf )

:<

[ () kf kf

:<

Z ²ijZ\bevgu_^jh[bkhagZf_gZl_e_f [ ²g_ijZ\bevgu_^jh[bk qbkebl_e_f Z IjbZ ^jh[v

Z y\ey_lkyijZ\bevghc

[ ijbZ ^jh[v _lkyg_ijZ\bevghc

AZ fbg fZrbgZ \ujh_l dZgZ\m ^ebghc faZfbg² faZfbg² f

GZf lj_[m_lky d]djZkdb

y\ey Z

f aZ fbg ² ^ebghc

d]djZkdbgZf² d]djZkdbgZf²

Ih ieZgm gZ ihkljhcdm n_jfu hl\h^behkv ^g_c >g_\gZyghjfZlhdZjyjZ\gZ ^_lZe_cAZq lhdZjv\ulZqb\Z_l ^_lZe_cihwlhfmijblZdhcijhba\h^b l_evghklbaZq hg\ulhqbl ^_lZe_c

>g_\gZyghjfZlhdZjyjZ\gZ ^_lZe_c Dhgp_jlijh^he`Zeky fbg q fbg
[

q fbgfbg

\

]

qfbg qfbg q

p d]d] d] d] d] d]

pp ± d] d]±

q fbg q fbg q fbg q fbg q fbg

qbkeZ jZ\gu qbkeZ jZ\gu qbkeZ jZ\gu qbkeZ jZ\gu ±

q_luj_om]hevgbdZ$%&'hklZehkvg_aZdjZr_gh wlh]hq_luj_om]hevgbdZ AZdjZr_gh

Z d]] ]

[ d]] ]

< ihjy^d_ \hajZklZgby

^jh[b

\ d] ] jZkiheZ]Zxlky

lZd

< ihjy^d_m[u\Zgby

! ! ! ! !

! ! ! ! !

6$%&' Ff 6$()+ kf

Ijbo ^jh[v

[m^_lg_ijZ\bevghc o

N_jf_jkh[jZe l h\hs_c AZ \lhjhc^_gvlmjbkl^he`_gijhclb dfaZ ^\Z^gyhg^he`_gijhclb df Z ± ± ± df [ ± ± ± df \ ± ± ± df Z ± ± ± [ ± ± ± \ ± ± ± ] FZkkZkZeZlZjZ\gZ

FZkkZ klZgdZ l

\f_kl_

AZ^\Z^gyaZkZ^beb

[ \

k

miZdh\dhc

mqZkldZ

AZiheg_gghc[_gabghfhklZeZkv Z

d]

l ]\ha^_c ihey

pbkl_jgu

_ ` ^

jZ\gZ

]

a

lh lh Z _keb Z _keb Z lh Z Z [ ?keb E lh E _keb E lh E _kebE lh E \ F F F _keb k lh F _kebk lh F ] G G G _keb G lh G _keb G lh G Z ?keb Z

l_iebph]mjpZfbaZgylh l_ iebp
klZ\ey_l ]Z ?evx b khkghc aZgylh

\k_]h mqZkldZ qlh kh

hl aZieZgbjh \Zggh]hqbkeZ^_lZe_cqlhkhklZ\ey_l ^_lZeb HklZehkvba]hlh\blv± ^_lZev AZ^\Z^gy[jb]Z^Zba]hlh\beZ

H]mjpZfb aZk_ygh

ihey fhjdh\vx aZk_ygh

ihey DZjlhn_e_f h]mjpZfb b fhjdh\vx aZk_ygh ihey

[ Z

\

§ · ^ ¨ ¸ © ¹

_

]

§ · ¨ ¸ © ¹

o o Hl\_l [ m m m Hl\_l \ ] ] ] Hl\_l ] S S S Hl\_l Z o

kihkh[ FZkkZy[ehdjZ\gZp d] d] d] fZkkZ]jmrjZ\gZ d]AgZqblfZkkZy[ehdgZ± d][hevr_fZkku]jmr kihkh[ Y[ehd [hevr_ q_f ]jmr gZ hl h[s_c fZkku njmdlh\qlhkhklZ\ey_lp d] d] d] \k_]h imlb qlh jZ\ghdfIhwlhfm\_kvimlvjZ\_g df AZ ^\Z ^gy lmjbklu ijhreb

Imklv \ dgb]_ o kljZgbp lh]^Z i_j\uc jZkkdZa aZgbfZ_l kljZgbp Z \lhjhc jZkkdZa ²

o

o kljZgbp I_j\uc jZkkdZa aZgbfZ_l

· § gZ ¨ o o ¸ kljZgbp [hevr_ q_f \lhjhc jZkkdZa Ih mkeh\bx ¹ © o o o o o Hl\_lkljZgbpu [ Z

\ o ] m

Z

[

o m

o m

\

Hl\_l Hl\_l

]

^

LZddZd ±lhgm`ghaZdZaZlvg_f_g__Z\lh[mkh\

§ · § · § · § · § · : ¨ ¸ K ¨ ¸ ' ¨ ¸ 0 % ¨ ¸ ( ¨ ¸ . Ijb wlhf © ¹ © ¹ © ¹ © ¹ © ¹ J:

p d] l d] [ p d] l d] \ ]Z f ! D f

e kf !kf ^ d] ]

Z

Z

]

[

!

?kebo ±^jh[v ijZ\bevghc_kebo ± ^jh[v

[ [m^_l

[m^_lg_ijZ\bevghc [

±ijZ\bevgu_^jh[bm dhlhjuo qbkebl_ev [hevr_

±g_ijZ\bevgu_^jh[bm dhlhjuoagZf_gZl_ev[hevr_ Z ]

!

! ^ ! [

_ ! \ !

GZb[hevrZy ]jZgv iZjZee_e_ibi_^Z bf__l jZaf_ju o f __ iehsZ^vjZ\gZ fGZbf_gvrZy]jZgvbf__ljZaf_juof__ iehsZ^vjZ\gZ fKmffZwlboiehsZ^_cjZ\gZ f ^jm]ZyiZjZkhhl\_lkl\mxsbo]jZg_cg_mqblu\ZeZkv Baf ^j_\_kbgufh`ghihemqblv f df\bkdhaghcldZgb Z o ± o ± o o \ ±Z ±Z Z ±Z [ m ± m ± \ \ ] E± E± E E

\k_o k_fyg [_eu_ e_[_^b khklZ\eyeb

± ± ± ± ± ± ± ± ± \k_c ^hjh]b < i_j\uc qZk [ueh jZkqbs_gh gZ ^hjh]b f_gvr_ q_f\h\lhjhcqZk AZ ^\Z qZkZ [ueh jZkqbs_gh

f ldZgb GZ ieZlv_ \lhjhc dmdeu ihreh gZ f ldZgb [hev r_q_fgZieZlv_i_j\hcdmdeu GZ h[Z ieZlvy [ueh bajZkoh^h\Zgh

\ ^ ` Z

Z [

] _ a [

±o o o

m

m

Hl\_l

Hl\_l m

AZ ^\Z ^gy ]_heh]b ijhreb

khklZ\ey_l df

fZjrjmlZ qlh

klZ\ey_l df

Ihe_f ijhoh^bl

M [Z[mrdbE_gZ[ueZ

\k_]h imlb qlh kh

k\hbodZgbdme

;ueh\aylh d]keb\hd

AZlj_lbc^_gvZ\lhfZrbgZijh_oZeZ± df
GZfhlhpbde_lmjbkl_oZekh kdhjhklvx± dfq Z [

Z LZddZd Z qbkehg_y\ey_lkyd\Z^ jZlhfgZlmjZevgh]hqbkehihwlhfmhghy\ey_lkyebrgbf [ lZddZd Z qbkehg_y\ey_lkydm[hfgZlmjZevgh]h qbkeZb hghy\ey_lkyebrgbf \ qbkeZdjZlguZ qbkehg_djZlghihwlhfmhghebrg__ ] qbkeZdjZlguZ qbkehg_djZlghihwlhfmhghebrg__

QZklgh_

>jh[v

>_ebfh_ >_ebl_ev Qbkebl_ev AgZf_gZl_ev

AZh^bg^_gv\ kj_^g_fjZkoh^h\Zeb

d]kZoZjZ

Kdhjhklv ^\b`_gby dhg\_c_jZ jZ\gZ f fbg kffbg kffbg

GZh^gmx[dmihreh

f ldZgb

>ebgZdZ`^h]hdmkdZ\_j_\dbjZ\gZ Z

o

ffbg

f

o o Hl\_l

N N Hl\_l N P \ P P Hl\_l ] m m Hl\_l \ [

^

Q

Q± Q Hl\_l

Z [ \ ] Z

[

\

]

^

Z

Z

Z Z

[

Z

o

o o o

o

hlfZkkufhg_lu\ dfhg_lZ\ d ² hlfZkkufhg_lu\ dfhg_lZ\ d² hlfZkkufhg_lu\ dfhg_lZ\ dkhklZ\ey_l hlfZkkufhg_lu\ dfhg_lZ\ d² hlfZkkufhg_lu\ dfhg_lZ\ d² hlfZkkufhg_lu\ d Fhg_lZ\ dkhklZ\ey_l

AZfbgk_j^p_q_eh\_dZi_j_dZqZ_l kf e djh \baZq ± kf e djh\b § · [ ¨ ¸ © ¹ Z

· § · § \ ¨ ¸¨ ¸ © ¹ © ¹ § · § · ] ¨ ¸¨ ¸ © ¹ © ¹

d] ] ] d] ] ] d] ] ] [ q fbg fbg q fbg fbg q fbg fbg \ ]Z f f ]Z f f ]Z f f ] f kf kf f kf kf f kf kf Z

Mf_xlieZ\Zlv± q_eh\_dqlhkhklZ\ey_l mqZsboky

hlqbkeZ

<_kvdmkhdldZgbkhklhyeba qZkl_cihwlhfmgZ[jxdb ihreh dmkdZZ gZdmjldb dmkdZ Z ?kebE T U D ETU [ ?kebZ T U E D±U T ± \ _kebZ E U T D±U E ±

Imklvo qih^\h^gZyeh^dZ^\b]ZeZkvihih\_joghklb\h^ulh ]^Z o q hgZ gZoh^beZkv ih^ \h^hc Ih^ \h^hc eh^dZ gZoh^beZkv gZ o±o q [hevr_q_fgZih\_joghklbIhmkeh\bxo±o o o GZ ih\_joghklb\h^ueh^dZgZoh^beZkvqih^\h^hchgZgZoh^b eZkv q Imklvm dfih^\h^gZyeh^dZijhreZihih\_joghklb\h^ulh]^Zm df hgZijhreZih^\h^hcIh^\h^hceh^dZijhreZgZm ±m df[hevr_q_f ihih\_joghklbIhmkeh\bxm ±m m m Ihih\_jo ghklb\h^ueh^dZijhreZdfih^\h^hchgZijhreZ df Z

[

[

\

]

Z

[

< dZ`^hfdmkd_f

\

]

f ijh\hehdb

< dZ`^hc[Zgd_d]

d] ] \Zj_gvy

[

?kebE T U D ETU Z

Z

[

[

\

]

AZ^_gv\ kj_^g_fjZkoh^h\Zebd] KdhjhklvlmjbklZjZ\gZdf

d]dZjlhn_ey

dfq

< kj_^g_f gZ j_r_gb_ dZ`^h]h mjZ\g_gby mq_gbd ihljZlbe fbg fbgqlhjZ\gh k

[

Z

qfbg qkmldbq fbg q q fbg q [ dff dfdff Z q fbg

qq fbg

kf ff

lh

lh ijb jZkibeb\Zgbb [j_\gZ ^ebghc f ihemqblkyqZkl_c^ebghcih f dZ`^Zy

LZd dZd

Z

[

\

]

^

LZddZdm ijZ\bevghc^jh[bqbkebl_evf_gvr_agZf_gZl_eylh _keb bo ihf_gylv f_klZfb qbkebl_ev gh\hc ^jh[b [m^_l [hevr_ __ agZf_gZl_eyb ^jh[vklZg_l [hevr_ l_ klZg_l g_ijZ\bevghc ?keb qbkebl_ev g_ijZ\bevghc ^jh[b jZ\_g __ agZf_gZl_ex lh bo aZf_gZ ^jm] gZ ^jm]Z gbq_]h g_ baf_gbl b ^jh[v ihij_`g_fm [m^_l jZ\gZ

hklZ\Zykv g_ijZ\bevghc ?keb `_ qbkebl_ev g_ijZ\bevghc ^jh[b [hevr___agZf_gZl_eylhboaZf_gZ^jm]gZ^jm]Z ij_\jZlblwlm^jh[v \ ijZ\bevgmx^jh[vl_f_gvrmx &'

$%() $%.3 $%01 $%27 $%

IehsZ^v

ijyfhm]hevgbdZjZ\gZ kf

Imklvo ]djmiu\hreh\h[Zgdmlh]^Zo ]djmiu\hreh\ [Zg dmhf_klZ\klj_qbi_j\ucZ\lh[mk_oZe qZ \lhjhcZ\lh [mk± qAgZqbli_j\ucZ\lh[mk\u_oZegZ± q jZgvr_\lhjh]h

o ± o ± o o o Hl\_l o o o ±o o Hl\_l ± ± ± ± ± ± Z

Z

[

\

[

]

Imklvm e [_gabgZ\h\lhjhcdZgbklj_lh]^Zm e[_gabgZ \ i_j \hcdZgbklj_

d]dhgn_l

>ebgZ[_ehce_glujZ\gZ Z

\

^ ` b e g i

] [

a d f h j _

[ Z

f

§ · ¨ ¸ © ¹ qlhjZ\gh p y[ehd GZ [Zam ijb\_aeb

B]jZijh^he`ZeZkv fbgmlZf

§ · ¨ ¸ © ¹

l y[ehd

qqlhjZ\gh

Z

[

\

]

^

& ( $ . 0 1 % 2( 2. HK '& :? F? H '

Z Ijb Z qZklgh_ Z y\ey_lky gZlmjZevguf qbkehf

[ ijbZ qZklgh_ Z y\ey_lky g_ijZ \bevghc^jh[vx \ ijbgZlmjZevghfZ !qZklgh_ Z y\ey_lkyijZ\bevghc^jh[vxIjbZ Q]^_Q± gZlmjZevgh_qbkehqZklgh_Z y\ey_lkygZlmjZevgufqbkehf ijbgZlmjZevghfZ t wlhqZklgh_y\ey_lkyg_ijZ\bevghc^jh[vxijbZ qZklgh_Z y\ey_lkyijZ\bevghc^jh[vx o o o Hl\_l [ o o o Hl\_l Z

[ \ Z

GZ ehrZ^b e_kgbd ijh_oZe ± df kh kdhjhklvx dfq

Q_j_a q f_`^m Z\lhfh[beyfb [m^_l jZkklhygb_ ±± dfq_j_aq ±± ± ± dfe_]dh\hcZ\lhfh[bev^h ]hgbl]jmah\hc q_j_aq ² ± ± ± df

Q_j_afbg\ [hqd_[m^_l± e \h^uq_j_afbg±± e \h^uq_j_afbg±± e \h^uAZq fbg fbg \ [hqd_ [m^_l± e e ±[hqdZg_mki__lgZihegblky\h^hc

Z < rZofZlumf_xlb]jZlv mq_gbdh\Z g_mf_xlb] jZlv± mq_gbdh\ [ H^ghc ki_pbZevghklvx \ [jb]Z^_ \eZ^_xl q_eh\_d Z ^\mfy ki_pbZevghklyfb\eZ^_xl± q_eh\_d ± ± [ \ ] Z

_ ` a ^

I_jbf_ljijyfhm]hevgbdZjZ\_g · · § § ¨ ¸ ¨ ¸ © ¹ © ¹ GZeu`Zob dhgvdZofZevqbddZlZeky § · § · ¨ ¸ ¨ ¸ © ¹ © ¹

f

q

>ebgZ dZ`^hc ba jZ\guo qZkl_c gZ dhlhju_ fh`gh jZa^_eblv \_j_\dmjZ\gZ fIjbwlhf^ebgZh^ghcqZklbfZ ^ebgZ \lhjhcqZklb fAgZqbl\lhjZyqZklv^ebgg__i_j\hcgZ± f Imklv o q_eh\_d [ueh \h \lhjhc wdki_^bpbb lh]^Z o q_eh\_d [ueh\ i_j\hcwdki_^bpbb
fLZddZdi_jbf_ljd\Z^jZlZlZd`_jZ\_gflh ^ebgZ_]hklhjhgujZ\gZ fZ _]hiehsZ^v f Z [ ± ± ± ±

Z ±^\_p_euok_fv^_kyluo±h^bggZ^pZlvp_euoq_luj_ ^_kyluo ± q_luj_klZ h^gZ p_eZy h^gZ ^_kylZy ± r_klvkhl r_klv^_kylr_klvp_euor_klv^_kyluo±ghevp_euo\hk_fv^_ky luo±^_\ylvp_euo^_\ylv^_kyluo±^_\yghklh^_\ylvp_euo ^_\ylv^_kyluo±^_\ylvkhl^_\ylvp_euo^_\ylv^_kyluo [ ±iylvp_euor_klv^_kylq_luj_khluo±^\Z^pZlvh^gZp_eZy \hk_fv^_kylk_fvkhluo±ljbklZ\hk_fv^_kylh^gZp_eZyk_fv^_kyl k_fv khluo ±iylv^_kyl q_luj_ p_euo r_klv^_kyl khluo ± ^\_ p_euo \hk_fv^_kyl khluo ±ghev p_euo iylv^_kyl iylv khluo ± ghevp_euo^_\ylvkhluo±ghevp_euok_fv^_kylk_fvkhluo \ ±h^gZ p_eZy iylvkhl k_fv^_kyl ^_\ylv lukyqguo ± ^\_gZ ^pZlv p_euo \hk_fvkhl \hk_fv^_kyl ^\_ lukyqguo ± ljbklZ ^\Z ^pZlvr_klvp_euok_fvkhlljblukyqguo±klhkhjhdiylvp_euo \hk_fv lukyqguo ± ^\Z^pZlv h^gZ p_eZy ^_\yghklh q_luj_ lukyq guo ±ghev p_euo khjhd ^_\ylv lukyqguo ±ghev p_euo h^gZ lukyqgZy ] ± ^\_klb ljb p_euo r_klv ^_kyluo ± ^\Z^pZlv p_euo ljb ^pZlvr_klvkhluo±ghevp_euo^\_lukyqbljb^pZlvr_klvklhlu kyqguo±ghevp_euo^\Z^pZlvlukyqiylvkhlr_klvklhlukyqguo ±ghevp_euo^_kylvlukyqklhh^gZfbeebhggZy Z [

Z ^fkf ^f^fkf ^fkf ^f [ p d] pd] pp d] p

\ d]] d]d]] d]l d]] d] ] l l d]l l d]l l d]l l d] ^ f f kff f kf _ f f ^ff f ^f Z

[

\

]

f kf kf f kf kf

d] ] ] d] ] d] ]

² p_eZyqZklv^jh[gZyqZklv [ ² p_eZyqZklv ^jh[gZyqZklv \ ² p_eZyqZklv^jh[gZyqZklv] ² p_eZyqZklv^jh[gZyqZklv ^ ² p_eZyqZklv^jh[gZyqZklv Z

K &'

: ' < HK H' :<

Z ±^_kylvlukyq[ ± h^bgfbeebhg\ ±^_kylvfbeebhgh\ H :

? J < F '

[ Z

Z

! [ ! \

] f kf!kf

H[t_f i_j\h]h iZjZee_e_ibi_^Z jZ\_g kf
[ Z

Z [

! \ !

Z dff dff ff dff df [ p p d]p p d]p d]p d] KdhjhklvZ\lh[mkZjZ\gZ ffbg dfq dfq ffbg Imklvo pk_gZkh[jZebk i_j\h]hb \lhjh]hem]h\lh]^Zo p k_gZkh[jZebk lj_lv_]hem]Z
[ \

]

! !! !!!!

Z LZddZd±$ e_`ble_\__ < [ ±& e_`ble_\__' \ ! ±D e_`ble_\__? Z !±$ e_`blijZ\__ < [ ±' e_`blijZ\__ K \ ±. e_`blijZ\__? !! Z !ijbaZf_g_ gZex[mxpbnjmdjhf_ [ ijbaZf_g_ gZpbnju Z

[

Z ]

\

[ ^

]

\ _

^ l d]d] Z f !f [ d]d] _ df f f \ K & ` ]Z Z Z ] q !q a e kf Ff G_evay kjZ\gb\Zlv \_ebqbgu \ujZ`_ggu_ \ jZaebqguo _^bgbpZo baf_j_ gbydZdgZijbf_jd]b fkf b q bl^ [

Z

±

±

±

] ]Z Z Z f

\ q fbg fbg k k

±

±

±

±

±

±

±

Z >\_pbnju[ q_luj_pbnju\ h^gZpbnjZ] r_klvpbnj ] d]d] d]] d]] d] Z

[

\

]

JZa\_jldhcih\_joghklbdm[Zy\ey_lky nb]mjZ bah[jZ`_ggZy gZ jbkmgd_\ b ] Z l l d] [ l l d] \ l d]

] l l d] ^ l l d] _ l l d]

Z fegfej^ feg [ lukfeg lukfej^ luk <_kuke_\ZihdZau\ZxlfZkkm] d]<_kukijZ\ZihdZ au\ZxlfZkkm] d] ijb^\b`_gbbihl_q_gbxj_dbkdhjhklvl_iehoh^ZjZ\gZ dfq Ijb^\b`_gbbijhlb\l_q_gbyj_dbkdhjhklveh^dbjZ\gZ± dfq

[ Z

a ± `

] ^ _

d e f

\

b

AZq lh\Zjgucih_a^ijhr_e dfWe_dljhih_a^^h ]hgy_llh\Zjgucih_a^khkdhjhklvx± dfqAgZqblwe_dljh ih_a^^h]hgbllh\Zjgucih_a^q_j_a q ihke_k\h_]h\uoh^Z
[ ! ^ _keb _keb _keb _keb _keb _keb

\ H !

Z [ \ ]

_ ^

I_j\ucih_a^^h\klj_qbgZoh^beky\ imlb q\lhjhc ih_a^^h\klj_qbgZoh^beky\ imlb± qKe_ ^h\Zl_evghi_j\ucih_a^\ur_egZ± q jZgvr_\lhjh]h JZkklhygb_ df q ihke_bo\uoh^ZkhklZgpbb

f_`^m

ih_a^Zfb

[m^_l

q_j_a

Kdhjhklv ih_a^Z jZ\gZ dfq kdhjhklv oh^v[u i_rdhf jZ\gZ± dfqImlvhl]hjh^Z^h_eZjZ\_g df Ijb[Z\dZ a_jgZ kh \k_c iehsZ^b khklZ\beZ ± p ir_gbpu Z o ±o o o ±o o o [ m ±m ±m m ±m m m

GZiZevlhb dhklxf[uehbajZkoh^h\Zgh f ldZgb bebf kff kf kfkf kf f kf FZkkZ ©
] ^ _

Z [ ± \ ±

] ± ^ ± _ ±

K ^\mo mqZkldh\ kh[jZeb l a_jgZ H[ZljZdlhjbklZ\kiZoZeb ]Z a_feb

< dmkd_hklZehkv± f ijh\h^Z FZkkZ \_jlhe_lZ l Z \ ± ^ ` ± b ± e ±

\f_kl_

k

]jmahf

jZ\gZ

[ ] ± _ ± a ± d ± f ±

Kdhjhklv dZl_jZ ih l_q_gbx j_db jZ\gZ dfq kdhjhklvdZl_jZijhlb\l_q_gbyj_dbjZ\gZ± dfq Kh[kl\_ggZykdhjhklvl_iehoh^ZjZ\gZ± dfqkdh jhklvl_iehoh^Zijhlb\l_q_gbyjZ\gZ± dfq Kdhjhklv i_r_oh^Z jZ\gZ ± dfq Ijb ^\b`_gbb gZ \klj_qm^jm]^jm]mZ lZd`_ ijb^\b`_gbb\ ijhlb\hiheh`gu_klhjh guaZq jZkklhygb_f_`^mgbfbbaf_gblkygZ df

AZ q jZkklhygb_ f_`^m \_ehkbi_^bklZfb mf_gvrblky gZ dfebgZlj_lv_]hdmkdZjZ\gZ f^ebgZiylh]hdmkdZ jZ\gZ± f^ebgZi_j\h]hdmkdZjZ\gZ± f^ebgZ \lhjh]hdmkdZjZ\gZ± f6 f
DE ±F DE±F _kebZ E F DE ±F ± ±

DE ±F ± D±EF D±E ±F_kebZ E F D±EF ± ± D±EF ± ± Z [ \ ] ± ± ± ± ^ ± ± _ ± ± Z ±± ± ± [ ± \ ±± ± ] ± ± >eyqbkeZ±\ jZajy^_^_kyldh\_^bgbpu\ jZajy^__^b gbp ±\ jZajy^_^_kyluo±\ jZajy^_khluo±\ jZajy^_lukyqguo ± >ey qbkeZ ±\ jZajy^_ _^bgbp ± \ jZajy^_ ^_kyluo ± \ jZajy^_khluo±\ jZajy^_lukyqguo±\ jZajy^_^_kylblukyqguo± Z [ Z

[

Z f ^fkfff f f f f f [ f ^fkfff ^f^f^f^f ^f \ f ^fkfff kfkfkfkf kf ] f ^fkfff ff ff ff ff ff : < K ' D L_jfhf_lj ,ihdZau\Z_ll_fi_jZlmjmKl_jfhf_lj,,² Kl_jfhf_lj,,,²Kl_jfhf_lj ,9²K Z ?kebl_fi_jZlmjZih^gbf_lkygZfZeuo^_e_gbylhl_jfhf_ljuihdZ `ml,²K,,²K,,,²K,9²K_kebl_fi_jZlmjZ ih^gbf_lkygZ[hevrbo^_e_gbylhl_jfhf_ljuihdZ`ml,² K,, ² K ,,, ² K ,9 ² K _keb l_fi_jZlmjZ ih^gbf_lky gZ

Klhl_jfhf_ljuihdZ`ml,² K,,² K,,,² K,9 ²K_kebl_fi_jZlmjZih^gbf_lkygZKlhl_jfhf_ljuihdZ`ml ,²K,,²K,,,²&,9²K [ ?keb l_fi_jZlmjZ himklblky gZ fZeuo ^_e_gbc lh l_jfhf_lju ihdZ `ml,²K,,²K,,,²K,9² K_kebl_fi_jZlmjZ himklblkygZ[hevrh_^_e_gb_lhl_jfhf_ljuihdZ`ml,²K,,² K,,,²K,9² K_kebl_fi_jZlmjZhimklblkygZ K lh l_jfhf_lju ihdZ`ml , ² K ,, ² K ,,, ² K ,9 ² K_kebl_fi_jZlmjZhimklblkygZ Klhl_jfhf_ljuihdZ`ml,² K,,²K,,,²K,9²K Z [ ± \ o ± o o ] m m ±m ^ ] ] ±] _ ±j j ±j Z ] ] ±] Hl\_l [ m ± \ \ Hl\_l \ ±o [ ±[ Hl\_l ] N N ±N Hl\_l ^ O O ± O Hl\_l _ ±U U ±U Hl\_l Z

[

\

]

^

Z [ \ Z ^f f [ kf f

\ ^f f ] kf f

I_jbf_ljlj_m]hevgbdZjZ\_g

f

Ih mkeh\bx iheZj[maZ klhyl khev^h ihwlhfm Zj[ma klhbl khev^h Z Z

[

[

\

]

df fff fkf f f dff kff ff o [ [ Hl\_l [ m \ \ Hl\_l \ N N N Hl\_l ] O O O Hl\_l Z

Z f kf ff kf fkf f^f f [ l p d] ld] ld] l Imklv o d] fZkkZ f_rdZ k djmihc lh]^Z o d] fZkkZ f_rdZ k fmdhcebgZ:djJZaeh`_gb_?^bgbpZ :jJZ^bmkKhjhdDZjZlLhggZ:jrbgG_^_ey Yj^>_ebfh_ Z [ \

] ^ _

Z ± [ ± \ ± ] ± ^ ±

_ ± ` ± a ± b ±

>ebgZ\lhjhcklhjhgu lj_m]hevgbdZ jZ\gZ kf ^ebgZ lj_lv_c klhjhgu jZ\gZ kf I_jbf_lj lj_m]hev gbdZjZ\_g kf f kf

>ebgZ\lhjhcqZklbljm[ujZ\gZ± fqlhgZ± ± f [hevr_q_f^ebgZi_j\hcqZklbljm[u FZkkZh[hehqdbrZjZjZ\gZ lfZkkZ]Zah\hc]h j_edb± lH[sZyfZkkZrZjZjZ\gZ l
m ± m m H[t_fh^ghcqZklbjZ\_gkfh[t_f^jm ]hcqZklbjZ\_g kfHl\_lkf b kf ± !± ±^jh[vjZkiheh`_ gZ[eb`_d qbkem ± !± ±^jh[vjZkiheh `_gZ[eb`_d qbkem ± ± ±^jh[vjZkih eh`_gZ[eb`_d qbkem I_jbf_ljijyfhm]hevgbdZjZ\_gJ o m iehsZ^v 6 [\]^_ o ±^ebgZm ±rbjbgZijyfhm]hevgbdZ Z ?keb[\lh[\beb 3 3 [\ 6 [ _keb[\lh[\beb 3 3 [\ 6 | || || || || || || | d]| | d]d]| | d]f | ff | ff | ff | f Z | | | | | | | | [ | | | | | \ | | | | | H[sZyfZkkZ^_lZe_cjZ\gZ d] | | d]d]| | d]d]| | d]d]| | d]d] | | d]±lZdbfh[jZahf\b^ghqlhhd jm]e_gguc j_amevlZl kmffu \ ^Zgghf kemqZ_ g_ jZ\_g kmff_ hdjm] e_gguokeZ]Z_fuo >ebgZ\k_cljZkkujZ\gZ df| |df| | df &' ^f

Z

[

\

]

Z [

\ ]

Z o ±Z ± !E±[ ± ±[jZkiheh`_gh[eb `_d qbkemE [ [±D ± E±[ ± ±[jZkiheh`_gh [eb`_d qbkemZ \ o ±Z ± E± [ ± ±[jZkiheh`_ghgZh^b gZdh\hfjZkklhygbbhlqbk_eZ bE ±k_fvkhlr_klv^_kyl\hk_fvlukyq^_\ylvkhlqbkehm\_ ebqbehkv \ jZa ± k_fv fbeebhgh\ r_klvkhl \hk_fv^_kyl ^_\ylv lukyq qbkeh m\_ebqbehkv \ jZa ± k_fv^_kyl r_klv fbeebhgh\ \hk_fvkhl ^_\yghklh lukyq qbkeh m\_ebqbehkv \ jZa Qbkehmf_gvrbehkv\ jZa

\ e kfe f ] kf f Z

[

Z Z

[ Z

Wlh ml\_j`^_gb_ g_\_jgh GZijbf_j ijyfhm]hevguc mqZklhd ^ebghcf brbjbghcf bf__lJ f6 fD\Z^ jZlguc mqZklhd kh klhjhghc ff bf__l lZdhc `_ J f gh 6 f z f Qbk eZ ?keb Z ± Z ± Z _kebZ ±Z ± Z _kebZ ±Z ± Z Z ± ± [ ± ± \ ±± ± ] ±± ± Z ![ \ ] ! Z Eh^dZ ijh^\b]Z_lky ih l_q_gbx j_db kh kdhjhklvx ffbg [ eh^dZijh^\b]Z_lkyijhlb\l_q_gbyj_dbkhkdhjhklvx± ffbg \ eh^dZijh^\b]Z_lkyihl_q_gbxj_dbkhkdhjhklvx ffbg ] ± ± eh^dZgZoh^blkygZh^ghff_kl_ Kdhjhklveh^dbihl_q_gbxjZ\gZ dfqkdhjhklveh^db ijhlb\l_q_gby± dfqAZq ihl_q_gbxeh^dZijhc^_l dfaZq ijhlb\l_q_gbyhgZijhc^_l df HklZeZkv ± klZ\ey_l l

qZklv ijb\_a_ggh]h m]ey qlh kh

HklZeZkv ± d]

qZklv dmie_gghc djZkdb qlh khklZ\ey_l

Z | | | | | | | | | | [ | | | | Z [

\ ]

Z [ \ ]

Kdhjhklv l_iehoh^Z ih l_q_gbx dfq kdhjhklv l_iehoh^Zijhlb\l_q_gby± dfq

Kdhjhklv l_iehoh^Z ih j_d_ mqblu\Zy qlh hg ^\b]Zeky ijhlb\ l_q_gby jZ\gZ ± dfq AZ q l_iehoh^ ijhr_e df FZkkZ aZiZkh\ ] l Z

ahehlZ

[

b

k_j_[jZ

jZ\gZ

Z [ Z [ \ ] ^ _

` a b d ± e f ±

Z [

I_jbf_ljr_klbm]hevgbdZjZ\_g kf

FZkkZ^_\ylbwe_dljhfhlhjh\jZ\gZ d]

Z [ \ luk luk luk feg feg feg fej^ fej^

:\lhfZrbgZijhreZ df

>ey k[hjdb ijb[hjh\ i_j\h]h \b^Z b ijb[hjh\ \lhjh]h \b^Z ihlj_[m_lky ± q o Z ?kebo _kebo o _kebo o [ _kebZ b E Z E \ _kebk b G k G ] PP±P P±P P _kebP _keb P _kebP _kebP Z

[

Z ± [ \ ± ]

\

^ _ ± ` a ±

]

Z [ ± \ ± ]

^ _ ± ` a ±

Z _keb [ ! _keb ² ex[ZypbnjZ \ _keb ] _keb ² ex[ZypbnjZ

Imklv^ebgZijhe_lZe_klgbpuf_`^mkhk_^gbfbwlZ`ZfbjZ\gZZ flh]^Z^ebgZe_klgbpuf_`^mb wlZ`ZfbjZ\gZZ fijhe_lZ Z f_`^mb wlZ`ZfbZ fijhe_lh\ AgZqbl^ebgZe_klgbpuf_`^m b wlZ`Zfb\ Z Z jZaZ[hevr_q_f__ ^ebgZf_`^mb wlZ `Zfb

Kj_^g__qbkehjZ\ghkmff_djZcgboqbk_e

Kj_^g__qbkehjZ\ghjZaghklbdjZcg_]he_\h]hb djZcg_]hijZ\h]hqbk_e

Z | | | | | | [ | | | Z [ ±± ± \ ± ± ] ± ± ±± ± Z o [ ±[ Hl\_l [ m ±\ ±±\ Hl\_l \ ]± ] ] Hl\_l ] ±Y Y ±Y Hl\_l Kdhjhklv\lhjh]hih_a^ZjZ\gZZ dfqkdhjhklvm^Ze_gbyih _a^h\^jm]hl^jm]ZjZ\gZZ Z dfqQ_j_aq f_`^mih_a ^Zfb [m^_lZ dfIjbZ Z df ijbZ Z df

Imklvo dfq kdhjhklvZdmeulh]^Zo dfq kdhjhklv^_evnbgZ Kdhjhklv ^_evnbgZ [hevr_ kdhjhklb Zdmeu gZ o ± o dfq Ih mkeh \bx o ±o o KdhjhklvZdmeu jZ\gZ dfq kdhjhklv ^_evnbgZ dfq Imklv fZkkZ i_lmoZ jZ\gZ m d] lh]^Z fZkkZ bg^xdZ jZ\gZ m d] FZkkZ i_lmoZf_gvr_fZkkubg^xdZgZm ±m d]Ihmkeh\bxm ±m m m FZkkZi_lmoZjZ\gZd]fZkkZbg^xdZjZ\gZ d] o ± o ±o Hl\_l ±m ± m ±m Hl\_l Z [ \

] ^ _ ±

I_jbf_lj\hkvfbm]hevgbdZjZ\_g kf

FZkkZysbdh\k y[ehdZfbjZ\gZ d] Z ] [ ^ \ _

` a b

Z ?kebo b m o m

?kebo b m o m [ ?kebZ b E Z E

GZih_a^_GbdblZijh_oZegZ ± ± df[hevr_q_fgZZ\lh[mk_ FZkkZ\k_]h]jmaZjZ\gZ l AZq \_ehkbi_^bklijh_^_l dfaZ q ± df

q ± dfaZ

FZkkZibjh]h\jZ\gZ ]fZkkZ ]fZkkZ

ibjh]Z± ]

Z u

[ u

Z \ ^ ` b e g i k

ibjh]Z±

[ ] _ a d f h j l

FZkkZh^gboZwjhkZg_cjZ\gZ l RbjbgZ \lhjh]h kf

ijyfhm]hevgbdZ

jZ\gZ

< i_j\uc^_gvlmjbklijhr_e dfZ \h \lhjhc^_gv± df

GZdhgk_j\gucaZ\h^hlijZ\beb l dem[gbdb Z ijh^Zeb± l dem[gbdb

< i_j\uc ^_gv bajZkoh^h\Zeb l k_fyg \h \lhjhc^_gv±± l k_fygIhke_^\mo^g_cihk_ \ZhklZehkv± ± l k_fyg Dheyijh[_`Ze^bklZgpbxaZ fbg

>ebgZ^hjh]bf_`^mklZgpbyfbjZ\gZ df Z o ±o o o Hl\_l \ Z Z Z ± Z Hl\_l [ m m \ \ Hl\_l ] N±N± N N Hl\_l

Imklvo d] ihfb^hjh\ \ h^ghc dhjabg_ lh]^Z o d] ihfb^hjh\ \ ^jm]hcdhjabg_eyijb]hlh\e_gbyd]kf_kbihgZ^h[behkv d]y[ehd d]mjxdZb d]baxfZ Imklv]p fmdb\h\lhjhff_rd_lh]^Z] p fmdb\ i_j\hf f_rd_< ^\mof_rdZo]] p fmdbIhmkeh\bx]] ] ± ]

FZkkZh^ghcghrbg_dlZjZjZ\gZ ] FZkkZh^ghcdZiebe_dZjkl\ZjZ\gZ ] Z

[ ±

] § · ^ ¨ ¸ © ¹ \

§ · _ ¨ ¸ © ¹

Z o ± o o Hl\_l [ m m ±m Hl\_l Z ± [ ± \ ± ± ± ] ^ _ ` ± ± a ± ± Z ± ± ± ± ± [ \ ± ± ± ± ± ] Z [ \ ] ^

_ ` a b d

Z o o Hl\_l [ [ Hl\_l \ o o Hl\_l ] o o[ Hl\_l ^ Z ZZ Hl\_l _ P PP Hl\_l Z Z ± agZq_gb_ \ujZ`_gby Z m\_ebqblky gZ Z Z ±agZq_gb_\ujZ`_gbyZ m\_ebqblkygZ Z Z ±agZq_gb_\ujZ`_gbyZ m\_ebqblky\ jZaZ

Z «²dZ`^h_ihke_^mxs__qbkeh[hevr_ ij_^u^ms_]hgZ [ «²dZ`^h_ihke_^mxs__qbkehf_gvr_ij_ ^u^ms_]hgZ \ « ² dZ`^h_ ihke_^mxs__ qbkeh [hevr_ ij_^u^ms_]h\ jZaZ ] ²dZ`^h_ihke_^mxs__qbkehklhys__ gZg_q_lghff_kl_[hevr_ij_^u^ms_]hqbkeZklhys_]hgZg_q_lghff_k l_gZdZ`^h_qbkehklhys__gZq_lghff_kl_[hevr_ij_^u^ms_]hqbk eZklhys_]hgZq_lghff_kl_gZ Z ± [ \ ± ] ± ± Z [ Z | | [ | \ | ] | ^ |

Z \ Z

] [

[

Ihmkeh\bx\ ihjy^d_\hajZklZgby\_kZfZevqbdbjZkiheZ]Zxlky lZd@_gyK_gyDheyb I_lyLZddZdlh@_gy \_kbld]K_gy±d]Dhey±d]b I_ly±d] Z ±±P ±P_kebP lh±P ± [ N N_kebN lhN Z ±o ± o ± ±o o [ ±m m ±m ± m ± ± ± ± ± ± Z [ \ ] ^ _

` a b d e f

Ih]jmglh\hc^hjh]_fZrbgZreZkhkdhjhklvx± dfq GZhlhie_gb_[uehhlims_gh l m]eyZ gZ kdeZ^_hklZehkv± l m]ey IehsZ^viheyjZ\gZ ]Z Z o [ [ Hl\_l [ m m \ Hl\_l \ Z Z Z D Hl\_l ] ]±] ] ] Hl\_l ^ WW W ± W Hl\_l

_ S± S± j S Hl\_l ` Q± Q Q Hl\_l a P P ±P Hl\_l b N± N N Hl\_l Z [ \ ] ± Imklvo lk_gZkh[jZebk dZ`^h]hbai_j\uo^\moem]h\lh]^Zo l k_gZkh[jZebk lj_lv_]hem]Z

] ±W W ±W Hl\_l IehsZ^v ijyfhm]hevgbdZ jZ\gZ kf ^f Z [ \ ] ^ _

^f

beb

` a b d e f

IehsZ^viheyjZ\gZ f | f >ey ihk_\Z gZ mqZkld_ iehsZ^vx Z ihlj_[m_lky d] k_fyg gZ mqZkld_ Z ² d] k_fyg gZ mqZkld_ Z ² d]k_fyggZmqZkld_Z² d]k_fyggZmqZkld_ Z² d]k_fyggZmqZkld_]Z± d]k_fyg AZq ih_a^ijhc^_l dfaZq² dfaZ q² dfaZq² dfaZq² df FZkkZ^_lZebh[t_fhfkf jZ\gZ ]h[t_fhfkf ² ]h[t_fhfkf² ]h[t_fhfkf² ] I_j\hgZqZevgZy ^ebgZ \_j_\db jZ\gZ f Z [ \ ] ^ _

` a b d e f

Z Z E [ o \ P±Q ] Z E F±G Z Ijhba\_^_gb_kmffuqbk_eZ bb jZaghklbqbk_eEb

[ jZaghklvijhba\_^_gbyqbk_eb Pb ijhba\_^_gbyqbk_eb Q \ kmffZijhba\_^_gbyqbk_eb ob ijhba\_^_gbyqbk_eb m ] ijhba\_^_gb_jZaghklbqbk_ePb Qb kmffuqbk_ej bN ZE F DEF ± khq_lZl_evgh_ k\hckl\h mfgh`_gby ZE ED ² i_j_f_klbl_evgh_k\hckl\hmfgh`_gbyijbZ E F ZE F DEF Z m m m m [ P P P P Z [ \ ] Z E F D FE F²jZkij_^_ebl_evgh_k\hckl\hmfgh`_gby hlghkbl_evghkeh`_gby Z ±E F D F±E F²jZkij_^_ebl_evgh_k\hckl\hmfgh`_gbyhlghkb l_evgh\uqblZgby _kebZ E F Z E F D FE F Z ±E F ± D F±E F ± ± Z [ \ ± ± ] ± ± Z o o ±o o ±o o [ m ±m m m m m \ P±P±P P±PP P±P P ] N±NN NN N Z o o o o o ijbo o ijbo o [ Z ±Z Z ±Z Z ± ijbZ Z ijbZ Z \ E±E E±E± E± ijbE E± ± ±

ijbE E± ± ± ] PP± P± ijbP P± ± ± ijbP P± ± ± ^ Q±Q Q ijbQ Q ijbQ Q Z ± ± ± ± [ ± ± ± \ ± ± ± ] ^ _ ± ± KmffZ iehsZ^_c kl_g dhfgZlu jZ\gZ f | fH[t_fdhfgZlujZ\_g f | f
Z [ ± ± ± ± ± ±

Z [ ± ± ± \ ] Z [ \ ] ^ _

` a b d e

f

Z 6 kf Z [ ! \

[ 6 ^f

\ 6 f

_keb _keb _keb

Ex[h_ gZlmjZevgh_ qbkeh fh`gh jZkkfZljb\Zlv \ \b^_ g_ijZ \bevghc ^jh[b kh agZf_gZl_e_f IjbibkZ\ kijZ\Z d wlhfm qbkem pbnjm qbkebl_ev khhl\_lkl\mxs_c ^jh[b l_f kZfuf mfgh`beb gZ g_f_gyy__ agZf_gZl_evIjbm\_ebq_gbb^_ebfh]h\ jZaijbg_ baf_gghf^_ebl_e_qZklgh_\hajZklZ_llZd`_\ jZaIjbibkZ\kijZ\Z d ^_kylbqghc ^jh[b pbnjm qbkebl_ev b agZf_gZl_ev khhl\_lkl\mx s_c_ch[udgh\_gghc^jh[bl_fkZfufmfgh`bebgZIjbm\_ebq_ gbb \ jZa ^_ebfh]h b ^_ebl_ey h^gh\j_f_ggh qZklgh_ g_ f_gy_lky AgZqblijbibkZ\kijZ\Zd ^_kylbqghc^jh[bihemqbf^jh[vk l_f`_ kZfufagZq_gb_f Z [ Z [

\ ]

K h^gh]hp\_ldZiq_eZkh[bjZ_l ] f_^Z DZl_jijh^_eZeimlv ± df

Kdhjhklvk[eb`_gbyl_iehoh^h\jZ\gZ ± dfq
` a b d e f

IehsZ^v rdhevgh]h f|f

dhjb^hjZ

jZ\gZ

Kdhjhklv ^\b`_gby <_g_ju \hdjm] KhegpZ jZ\gZ ± dfkAZk ijb^\b`_gbb\hdjm]KhegpZF_jdmjbcijhc^_limlv df<_g_jZ± dfaZk F_jdmjbcijhc^_limlv df<_g_jZ± dfaZk F_jdmjbcijhc^_limlv df<_g_jZ² df FmobghgZoh^blkygZ± ± df^Zevr_ hlDZf_gdbq_fhlAZj_qghc JZkklhygb_f_`^mih_a^ZfbjZ\gh± df Kdhjhklvm^Ze_gby\lhjh]hZ\lhfh[beyhli_j\h]hjZ\gZ ± ± dfqihwlhfmq_j_aq f_`^mgbfb[m^_l df Z ?kebZ E F 9 DEF kf 6 DEDFEF kf / DEF Ff [ ?kebZ E F 9 DEF kf 6 DE DF EF kf / DEF Ff \ ?kebZ E F 9 DEF kf 6 DEF EF kf / DEF Ff ] ?kebZ E F 9 DEF kf 6 DEF EF kf / DEF Ff Z Z Z Z [ E±E E \ k k k k k ] ±G±G± ±±GG ±G Z oo± o±_kebo o± ±

[ m ±m m _kebm m Z o o ± o o o Hl\_l [ m ±m m ±m m Hl\_l Z [ \ ] ^ _ ± ± ± ± Z [ \ Z [ \ Z [ \ ] ^ _ ` a b Z Z E±

d e f g h i j k l [ o m

Z JZaghklvqZklgh]hhl^_e_gbyPgZb qZklgh]hhl^_e_gby QgZ [ qZklgh_hl^_e_gbykmffuo bgZkmffmm b \ ijhba\_^_gb_qZklgh]hhl^_e_gbyZ gZEb qZklgh]hhl^_e_gbygZk Qlh[uijhclbf q_eh\_dmgZ^hk^_eZlv rZ ]h\ Kdhjhklvih_a^ZjZ\gZ dfq

FZkkZkf ev^ZjZ\gZ ] >ebgZ\_j_\db f < h[ZiZd_lZ\hreh d]fmdb GZijh]medmb ijb]hlh\e_gb_mjhdh\m ;hjbmreh q AZq klhc`_kdhjhklvxfZevqbdijhc^_l df

FZkkZ kf klZeb jZ\gZ ] FZkkZ klZevgh]hrZjZh[t_fhfkf jZ\gZ ] Q_j_a i_j\mx ljm[m aZ q ihklmibeh e jZkl\hjZ Q_j_a \lhjmx ljm[m aZ q ihklmibeh ± e jZkl\hjZ AgZqblaZq q_j_a\lhjmxljm[mihklmiZ_l e jZk l\hjZ Z [ \ FZkkZf \h^u[hevr_fZkkuf ijh[dbgZ± ] d]

Z ± o o ± o Hl\_l [ m m ±m Hl\_l \ ]± ] ] Hl\_l ] PP P P Hl\_l ^ j ±j j j Hl\_l _ W±W W W Hl\_l ` ±V V ± V Hl\_l a N±N N N Hl\_l Imklvo l[_gabgZ[ueh\h\lhjhcpbkl_jg_lh]^Zo l[_gabgZ [ueh\ i_j\hcpbkl_jg_
abgZ Ih mkeh\bx o o o o
Z \ [ ] ± ± ±

Z [ \ ] ^

_ ` a b

?kebZ _kebZ _kebZ _kebZ _kebZ _kebZ _kebZ

Z Z Z Z Z Z Z

<_ebqbgu \ imgdlZo Z \ a y\eyxlky lhqgufb Z \_ebqbgu \ imgdlZo[ ] ^ _ ` b y\eyxlkyijb[eb`_ggufb

>h_^bgbp >h^_kyluo >hkhluo

Z [ijbo [ [ijbo \ [ijbo ] [ijbo Z [ Z [ \ Kdhjhklv\lhjh]h\_ehkbi_^bklZjZ\gZ dfqQ_j_aq ihke_ \u_a^Z \lhjh]h \_ehkbi_^bklZ f_`^m gbfb [m^_l df

Kdhjhklv eh^db ih l_q_gbx jZ\gZ dfq kdhjhklv eh^db ijhlb\ l_q_gby jZ\gZ ± dfq AZ q ih l_q_gbx eh^dZijhc^_l dfaZdfijhlb\l_q_gbyeh^dZijhc^_l df Ijb[uevaZ\h^Zhlj_ZebaZpbb^_lZe_cjZ\gZ± jm[e_c

AZ^g_c\_^yk_[yohjhrh;mjZlbghihemqbl khev^h LZd dZd Iv_jh aZ wlh \j_fy lZd`_ ihemqbl khev^hlhaZg_^_exohjhr_]h ih\_^_gby ;mjZlbgh ihemqbl lZdmx `_ kmffmqlhb Iv_jh >ebgZijyfhm]hevgh]hiZjZee_e_ibi_^ZjZ\gZ kf\ukhlZiZjZee_e_ibi_^ZjZ\gZ kfH[t_fiZ jZee_e_ibi_^ZjZ\_g kf | kf ImklvgZihedmb^_lo ffZl_jbZeZlh]^ZgZrdZnb^_lo ffZ l_jbZeZGZrdZnZb ihehdihreho o f fZl_jbZeZIhmk eh\bx o o o o o o GZihedmb^_lf fZl_jbZ eZgZrdZnb^_l f fZl_jbZeZ Hl\_lf bf
IehsZ^v h[_bo dhfgZl d\Zjlbju jZ\gZ f AZq ^\b]Zl_evbajZkoh^m_l e ]hjxq_ ]h FZkkZ^f ^_lZebjZ\gZ d]>_lZevbalZdh ]h`_f_lZeeZfZkkhcd]bf__lh[t_f ^f Q_j_a\lhjmxljm[maZq ihklmiZeh± l [_gabgZAgZ qblhgZ[ueZhldjulZ± ± q Z ±o ±[ [ ±[ [ m \ \ ±\ \ WW± W W W ] ]±]±] ] ±] ] Imklvo l]jmaZih]jmabebgZlj_lvxfZrbgmlh]^Zo ]jmaZih ]jmabebgZi_j\mxfZrbgmb o l]jmaZih]jmabebgZ\lhjmxfZrb gm
Imklvm dfq kdhjhklvh^gh]hi_r_oh^Zlh]^Zm dfq kdhjhklv \lhjh]h i_r_oh^Z Kdhjhklv m^Ze_gby i_r_oh^h\ ^jm] hl ^jm]Z jZ\gZ m m dfq b aZ q f_`^m gbfb klZeh m m df Ih mkeh \bx m m m m m Kdhjhklvh^gh]hi_ r_oh^ZjZ\gZ dfqkdhjhklv^jm]h]h dfq Z [ ± \ ± ± ± ] ± ± ± ± Mdheufh`ghk^_eZlv mq_gbdZf >hh[_^Zijh^Zeb l ijygbdh\Z hklZehkvijh^Zlv ± l ijygbdh\ < dmkd_[ueh f ldZgb

$

'

%

$' '% $% ² kj_^g__Zjbnf_lbq_kdh_qbk_eb Z [ \ ] Dhhj^bgZlZlhqdbK jZ\gZ± Kj_^ g__Zjbnf_lbq_kdh_dhhj^bgZllhq_d: bK jZ\gh ² dhhj^bgZlZlhqdb< Mjh`Zcghklvir_gbpugZihe_jZ\gZ p]ZgZ ihe_² p]ZgZihe_² p]ZgZih e_² p]ZKj_^gyymjh`Zcghklvir_gbpu p]Z Kj_^gyymjh`ZcghklvdZjlhn_eyjZ\gZ p]Z

| | Kj_^gyyhp_gdZmqZklgbpukhj_\gh\ZgbcjZ\gZ Kj_^gyykdhjhklvZ\lhfh[beygZ\k_fimlbjZ\gZ dfq k Z E ²nhjfmeZ^ey\uqbke_gbykj_^g_]hZjbnf_lbq_kdh ]hk qbk_eZ bE_kebZ k E k ±Z ± ± Imklvkdhjhklvih_a^ZgZ\lhjhfmqZkld_jZ\gZo dfqlh]^Z_]h kj_^gyy kdhjhklv jZ\gZ o dfq Ih mkeh\bx o o o ± o Hl\_ldfq

Imklvkdhjhklvl_q_gbyjZ\gZm dfqlh]^Zkh[kl\_ggZykdhjhklv dZl_jZjZ\gZk h^ghcklhjhgu±m dfqZ k^jm]hcklhjhgu m dfq Ih mkeh\bx ± m m m ± m Kdhjhklv l_q_gby jZ\gZ dfq kh[kl\_ggZy kdhjhklv dZl_jZ ± dfq Imklvh^ghqbkehjZ\gholh]^Z^jm]h_qbkehjZ\ghoKj_^g__ Zjbnf_lbq_kdh_wlboqbk_ejZ\gho o Ihmkeh\bxo o o o o H^gh qbkeh jZ\gh ^jm]h_ qbkeh jZ\gh Hl\_lb Z ± [ ± \ ± ] Z [ \ ] ^

_ ` a b

Z \ ^

[ ]

Kj_^g__qbkeh^_l_c\ dZ`^hfZ\lh[mk_jZ\gh q_eh\_dAgZqblhlt_a`Zxsbofh`ghjZaf_k lblvgZZ\lh[mkZoihq_eh\_d\ dZ`^hf

Imklv Z E lh]^Z DE ± ijhba\_^_gb_ f_gvr_h^gh]hbafgh`bl_e_c _kebZ E DE ±ijhba\_^_gb_f_gvr_ dZ`^h]hbafgh`bl_e_c _kebZ E DE !±qZklgh_[hevr_^_ ebfh]h F_`^mklhe[bdZfbgZoh^ylkyjZ\guoijhf_`mldh\ ihwlh fm^ebgZ\k_]hfhklZjZ\gZ f Z [ \

] ^ _

Z o ±o [ ±[ [

[ m ±m \ \ \ \ ±N ±N N ±N ] ±P ±P P ±P

IehsZ^vijbrdhevgh]hmqZkldZjZ\gZ f

Kdhjhklv m^Ze_gby kdhjh]h ih_a^Z hl iZkkZ`bjkdh]h jZ\gZ ± ± dfq Ke_^h\Zl_evgh \ q f_`^m ih_a^Zfb [ueh ± ± dfqAgZq_gb_ kdhjhklb iZkkZ`bjkdh]h ih_a^Z \ ^Zg ghfkemqZ_ijbj_r_gbbaZ^Zqbg_bkihevam_lky GZh[oh^ibjZfb^u lmjbklZf ihlj_[m_lky k k q ±l_aZq lmjbklumki_xl h[hclb\hdjm]ibjZ fb^u

>\b`_gb_lh\ZjZ

HklZlhdgZgZqZeh^gy IhklmibehaZ^_gv Ijh^ZghaZ^_gv HklZlhdgZdhg_p^gy

Fhehqguc hl^_e j j j j

±

Dhg^bl_jkdbc hl^_e j j j j

j j j j

±

Z | | [ |

Kj_^gyykdhjhklv^\b`_gbyZ\lhfZrbgu dfq Kj_^gyy kdhjhklv ^\b`_gby lmjbklZ fq dfq

jZ\gZ

>jm]h_qbkehjZ\gholh]^Z^jm]h_qbkeho Kj_^g__Zjbnf_ lbq_kdh_wlboqbk_ejZ\gho o Ihmkeh\bxo o

o o ± o H^gh qbkeh jZ\gh ^jm]h_ qbkehjZ\gh Hl\_lb Imklvlj_lv_qbkehjZ\ghmlh]^Zi_j\h_qbkehjZ\ghm\lhjh_ qbkehjZ\ghmKj_^g__Zjbnf_lbq_kdh_wlboqbk_ejZ\ghm m m Ih mkeh\bx m m m m m m Lj_lv_ qbkeh jZ\gh i_j\h_ qbkeh \lhjh_ qbkeh >ebgZ ihehku \kiZoZggZy ljZdlhjbklhf jZ\gZ ]Z f f f f dfAgZqblkdhjhklv^\b`_gbyljZd lhjZjZ\gZ dfq >ey ijb]hlh\e_gby kZeZlZ ba d] a_e_gh]h emdZ ihlj_[m_lky ] d]kf_lZgu AZ ]h^Z ijbjhkl fZkku jZkl_gbc khklZ\bl fej^l fej^lqlhaZf_gblfej^l fej^l g_nlb Z o o o ± o o o o ± o o o o ijbo o ijbo o ijbo o [ P±PP P±P±P P±P P ijbP P ijbP P \ m ±m m ±m ± m ± ijbm m ± ± ± ijbm m ± ± ± Z ± ± ± [ ±

>\_lukyqbiylvkhlq_luj_p_euoh^gZlukyqZk_fvkhlljb^pZlv q_luj_^_kylblukyqguo Z [ ± ± ± ± \

] Z [ ±

\ ]

Z ± ± [ ± ± \ ] ^ _ ± ± ` a ± Z Z

[

\ ] ^ _ [

Z [

\

]

^

` a b d e

f \ ]

Z Ijb^_e_gbbgZ^_ebfh_mf_gvrZ_lky\ jZaijb^_e_gbb gZ±\ jZa [ ijbmfgh`_gbbgZqbkehm\_ebqb\Z_lky\ jZaijbmfgh`_gbbgZ ±\ jZa Kj_^gyykdhjhklv^\b`_gbyZ\lhfh[beygZ\k_fimlbjZ\gZ dfq

Z ±dZ`^h_ke_^mxs__qbkehjZ\ghd\Z^jZlmij_^u^m s_]h [ ±dZ`^h_ke_^mxs__qbkehjZ\ghd\Z^jZlmij_^u^ms_]h \ ±dZ`^h_ke_^mxs__qbkehjZ\ghiheh\bg_ij_^u^ms_]h ] ±dZ`^h_ke_^mxs__qbkeh\ jZa[hevr_ij_^u^ms_]h Z [ L_iehoh^ijhr_e\_kvimlvkhkj_^g_ckdhjhklvx dfq

Kj_^gyyfZkkZh^gh]hihfb^hjZjZ\gZ ] Imklv lj_lv_ qbkeh jZ\gh o lh]^Z q_l\_jlh_ qbkeh jZ\gh o Kj_^g__Zjbnf_lbq_kdh_qbk_ejZ\gho o Ihmkeh \bx o o o o ± o Lj_lv_qbkehjZ\ghq_l\_jlh_qbkeh Imklvm dfq kdhjhklvih_a^ZgZ\lhjhfmqZkld_imlblh]^Zkj_^ gyykdhjhklvih_a^ZgZ\k_fimlbjZ\gZm dfqIhmk eh\bxm m m ± m

Imklv kdhjhklv GZlZrb jZ\gZ ] ffbg lh]^Z kdhjhklv K_j_`b ] ffbgK_j_`Z^h]hgyeGZlZrmkhkdhjhklvx]±] ffbgb ^h]gZe __ q_j_a ]±] fbgIhmkeh\bx]±] ] ] ] Imklvo f iehsZ^vh^ghc]jy^dblh]^Zo f iehsZ^v^jm ]hc]jy^dbH[sZyiehsZ^v]jy^hdjZ\gZo o fIhmkeh\bx o o o ±o o IehsZ^vh^ghc]jy^db fiehsZ^v^jm]hc]jy^db fIhmkeh\bxmjh`Zcghklv fhjdh\bjZ\gZ d]fIhwlhfmk i_j\hc]jy^dbihemqb eb d]fhjdh\bkh\lhjhc]jy^db± d]fhjdh\b Z Q±Q

[ Z ±Z

Z [ ±

\ P P±

\ ] ^ _ ± ± Z ?kebZ kfE kfk kf 9 DEF kf | kf [ ?kebZ ^fE ^fk ^f 9 DEF ^f | ^f Imklvo dfq kdhjhklvh^gh]hih_a^Z lh]^Zo dfq kdhjhklv ^jm]h]h ih_a^Z Kdhjhklv k[eb`_gby ih_a^h\ jZ\gZ o o dfq b ih_a^Z\klj_lbebkvq_j_ao o qIhmkeh\bxo o o o ± o Kdhjhklv h^gh]h ih_a^Z jZ\gZ dfq kdhjhklv^jm]h]hih_a^Z dfqHl\_ldfq bdfq Imklv m dfq kdhjhklv h^gh]h \_ehkbi_^bklZ lh]^Z dfq kdh jhklv^jm]h]h\_ehkbi_^bklZ<_ehkbi_^bklu\klj_lbebkvq_j_am qIhmkeh\bxm m m m Kdh jhklv h^gh]h \_ehkbi_^bklZ jZ\gZ dfq kdhjhklv ^jm]h]h \_ehkb i_^bklZjZ\gZ dfqHl\_ldfq bdfq

>jh[v

>_kylbqgZy ^jh[v Ijhp_gl

FZrZijhqblZeZ dgb]LZddZd lhK_j_ `ZlZd`_ijhqblZe dgb]ba[b[ebhl_db I_j\uc ihdmiZl_ev dmibe d] h]mjph\ \lhjhc ² d]h]mjph\ AZkmldbm[jZeb ]Zihey ?keb[jb]Z^Z\uihegbl aZ^Zgby lh [m^_l hlj_fhglbjh\Zgh f ^hjh]b_kebaZ^Zgby± f ^hjh]b_kebaZ^Zgby± f ^hjh]b Ij_^ijbylb_ba]hlh\beh gZkhkh\\ukr_c dZl_]hjbbdZq_kl\Z GZ dheohaguc kdeZ^ hlijZ\beb ± kh[jZgguo y[ehdqlhkhklZ\ey_l d]y[ehd

Gh\Zy k_[_klhbfhklv ^_lZeb khklZ\ey_l ± hl ij_`g_ck_[_klhbfhklbqlhjZ\gh jm[eyf =hjhohf aZk_ygh \k_]h ihey qlh khklZ\ey_l ]Z AgZqbl iehsZ^v\k_]hiheyjZ\gZ ]Z
Ih ieZgm [jb]Z^Z ^he`gZ [ueZ ba]hlh\blv ^_lZe_c

\ ] [

\

]

^

Ihkdhevdm^_e_gb_gZgZb gZ^Z_llhl`_j_amevlZlqlhb mfgh `_gb_gZgZb gZkhhl\_lkl\_gghlh\uqbke_gby ih \_jog_c b gb`g_cko_fZfijb\h^yld h^bgZdh\hfmj_amevlZlm

KdhjhklvdZl_jZihl_q_gbxY dfqkdhjhklvdZl_jZijh lb\l_q_gbyY ± dfq Z ?kebba\_klgukdhjhklbdZl_jZihb ijhlb\l_q_gbylhkh[kl\_ggZykdhjhklvdZl_jZjZ\gZkj_^g_fmZjbnf_lb q_kdhfm wlbo kdhjhkl_c [ _keb ba\_klgu kdhjhklv dZl_jZ ih l_q_gbx b kdhjhklv l_q_gbylh kdhjhklv ijhlb\ l_q_gby jZ\gZ jZaghklb kdhjhklb ih l_q_gbx b m^\h_gghc kdhjhklb l_q_gby \ kdhjhklv dZl_jZ ih l_q_gbx [hevr_kdhjhklbijhlb\l_q_gbygZ\_ebqbgmm^\h_gghckdhjhklbl_q_gby Qlh[u gZclb kj_^g__ Zjbnf_lbq_kdh_ g_ kdhevdboqbk_egm`gh Qlh[u gZclb kj_^gxx kdhjhklvgm`gh

gZclbkmffmwlboqbk_e gZclbqbkehwlboqbk_e jZa^_eblvkmffmqbk_egZboqbkeh

gZclbijhc^_ggucimlv gZclbh[s__\j_fy^\b`_gby jZa^_eblv ijhc^_gguc imlv gZ \j_ fy^\b`_gby

Z ± [ ± ± ± ± \ ± Imklvo dfq kdhjhklv Z\lh[mkZ ih ijhk_ehqghc ^hjh]_ lh]^Z o dfq _]hkdhjhklvih]jmglh\hc^hjh]_o dfq kdhjhklvZ\lh[mkZih rhkk_ Kj_^gyy kdhjhklv Z\lh[mkZ gZ \k_f fZjrjml_ jZ\gZ o o o dfq Ih mkeh\bx o o o o o o o o o Hl\_l dfq

Imklvlj_lv_qbkehjZ\ghmlh]^Zi_j\h_qbkehjZ\ghm\lh jh_qbkehjZ\ghm Kj_^g__Zjbnf_lbq_kdh_wlboqbk_ejZ\ghm m m Ih mkeh\bx m m m m m ± m Lj_lv_qbkehjZ\ghi_j\h_qbkeh± \lhjh_qbkeh± Hl\_lb Imklvi_j\h_qbkehjZ\gh]lh]^Z\lhjh_qbkehjZ\gh]lj_lv_qbkeh jZ\gh]Kj_^g__Zjbnf_lbq_kdh_wlboqbk_ejZ\gh]]] Ih mkeh\bx ] ] ] ] ] ± ] I_j\h_ qbkeh jZ\gh \lhjh_ qbkeh lj_lv_ qbkeh Hl\_lb

± ± ± ±

Mq_gbdk^_eZe ^_lZe_c

< lZ[mg_[ueh `_j_[_gdZ

I_rdhf ]_heh]b ijhreb ± ± \k_]himlbqlhkhhl\_lkl\m_l df

Bad]fhehdZihemqblky d]l\hjh ]Zbad]fhehdZ± d]l\hjh]Z IehsZ^v\k_cd\ZjlbjujZ\gZ f

>ebgZgZf_q_ggh]himlbjZ\gZ df

HklZehkvaZk_ylv± iheyqlhkhklZ\ey_l]Z AgZqbliehsZ^v\k_]hiheyjZ\gZ ]Z

Ijb ihemq_gbb l fmdb kfheheb l ir_gbpuBal ir_gbpuihemqblky l fmdb

>ey ihemq_gby l kmr_guo y[ehd gZ^h \aylv l k\_`boy[ehdBal k\_`boy[ehdihemqblky l kmr_guoy[ehd G_aj_eufbhdZaZebkv \k_oZj[m ah\

:H<:HK$2'%2&%2'&2'±r_klvm]eh\h[jZah\Zgguo emqZfbH:H<HKb 2'IehkdhklvjZa^_e_gZemqZfbgZqZklb
EmqHL^_eblF2'gZFHLb LH' :H<

$%&'()./0b 356±ijyfu_m]eu GZjbkmgd_bah[jZ`_guke_^mxsb_ijyfu_m]eu K'(b )%/ Jbkmgdb\uiheg_guk mf_gvr_gb_f\ jZaZ

$' %& kf:< &' kf35 56 67 73 kf

:H<

Jbkmghd\uiheg_gk mf_gvr_gb_f\ jZaZ

H: kfaZdjZr_gh Z

djm]Z

[

\

]

^

Ijbmfgh`_gbbgZqbkeh[hevr___^bgbpuijhba\_^_gb_[hevr_ bkoh^gh]hqbkeZijbmfgh`_gbbgZqbkehf_gvr___^bgbpuijhba\_ ^_gb_ f_gvr_ bkoh^gh]h qbkeZ Ke_^h\Zl_evgh Z ijb mfgh`_gbb gZ bkoh^gh_ qbkeh m\_ebqblky ijb mfgh`_gbb gZ bk oh^gh_qbkehmf_gvrblky Ijb^_e_gbbgZqbkeh[hevr___^bgbpuqZklgh_f_gvr_^_ebfh]hijb^_ e_gbb gZ qbkeh f_gvr__ _^bgbpu qZklgh_ [hevr_ ^_ebfh]h Ke_^h\Z l_evgh[ ijb^_e_gbbgZqZklgh_f_gvr_^_ebfh]hijb^_e_gbb gZqZklgh_[hevr_^_ebfh]h Z hlqbkeZZ Z ] [ ^ \ D

[

Z kmffZqbk_e\ dZ`^hckljhd_jZ\gZ [ kmffZqbk_e\ dZ`^hfklhe[p_jZ\gZ

=j_qboZaZgbfZ_l± ± ihey M I_lb hklZehkv ± dmie_gguo l_ljZ^_c qlh jZ\gh l_ljZ^yf AgZqbl \ gZqZe_ mq_[gh]h ]h^Z m I_lb [ueh l_ljZ^_c FZkkZkieZ\ZjZ\gZ d]f_^vkhklZ\ey_l kieZ\Z Imklv\ukhlZ[Zr_gFhkdh\kdh]hDj_feyjZ\gZo flh]^Z\ukh lZ:e_dkZg^jbckdh]hfZydZ jZ\gZo f\ukhlZ a^Zgby Fhkdh\kdh]h mgb\_jkbl_lZjZ\gZo f:e_dkZg^jbckdbcfZyd\ur_[Zr_g Dj_feygZo ±o fIhmkeh\bxo ±o o o

LhqdZH e_`bl\gmljb<:KlhqdbF b 1e_`ZlgZklhjhgZo<:KlhqdZ J e_`bl\g_<:K
m m FZkkZ ^_l_gurZ fhj`Z jZ\gZ d]fZkkZ \ajhkeh]hfhj`ZjZ\gZ d]Hl\_ld] Imklv o khe^Zl [ueh \h \lhjhf hljy^_ lh]^Z o khe^Zl [ueh \ i_j\hfhljy^_
$2% $2& $2' $2( $2% $2& %2& <_ebqbgZjZa\_jgmlh]hm]eZjZ\gZihwlhfm

jZa\_jgmlh]hm]eZ<_ebqbgZijyfh]h m]eZjZ\gZ ihwlhfm ijyfh]hm]eZ

Z [

]

^

\

Z [

_ \ ]

QZkh\Zyb fbgmlgZyklj_edbh[jZamxl Z \ q ±m]he [ \ q ±m]he \ \ q ±m]he ] \ q ±m]he ^ \ q fbg±m]he ± _ \ q fbg±m]he ±

:H< :HK KH< H:±[bkk_dljbkZ:H<

021 023 321 23±[bkk_dljbkZ021

:H< :HK K2' '2% : ² hkljuc m]he < ! ² lmihc m]he K !²lmihcm]he ' ²hkljucm]he Hklju_ m]eu <:K &$' 3.0 3.1 0.1 ;2( Ijyfhc m]he %$' Lmihc m]he (29 JZa\_jgmlucm]he ;29

:HK K2' '2% %2( (2) )2$ Djm]jZa ^_e_ggZjZ\guoqZkl_c Z Imklv \_ebqbgZ KH< jZ\gZ o ]jZ^mkh\ lh]^Z \_ebqbgZ :HKjZ\gZo ]jZ^mkh\KmffZ\_ebqbg KH< :HK :H< o o Ihmkeh\bxo o o o KH< :HK [ Imklv \_ebqbgZ KH< jZ\gZ o ]jZ^mkh\ lh]^Z \_ebqbgZ :HK jZ\gZ o ]jZ^mkh\KmffZ\_ebqbgKH<:HK :H< o o Ihmkeh\bxo o o ± o KH< :HK \ Imklv\_ebqbgZ:HKjZ\gZo ]jZ^mkh\lh]^Z\_ebqbgZKH
\ Imklv\_ebqbgZ:HKjZ\gZo ]jZ^mkh\lh]^Z\_ebqbgZKH
[

\

]

^

GZ jbkmgd_ bah[jZ`_gu ke_^mxsb_ m]eu :K? FDJ
\ _keb bkoh^gh_ qbkeh [ueh Z lh m\_ebq_ggh_ \ jZaZ qbkeh jZ\gh ZZZ qbkehZ m\_ebqbehkvgZ± ] _keb bkoh^gh_ qbkeh [ueh E lh mf_gvr_ggh_ \ jZaZ qbkeh jZ\gh E EE qbkehEmf_gvrbehkvgZ± Z

Qbkebl_evdZ`^hcke_^mxs_c^jh[bgZf_gvr_qbkebl_eyij_^u^ms_c ^jh[bZ agZf_gZl_evdZ`^hcke_^mxs_c^jh[bgZ[hevr_agZf_gZl_ey ij_^u^ms_c^jh[b [ Qbkebl_evb agZf_gZl_evdZ`^hc^jh[bq_j_ah^gm\ jZaZf_gvr_qbkeb l_eyb agZf_gZl_eyij_^u^ms_c^jh[bq_j_ah^gm

>bfZg_ihiZe\ fbr_gv\ ± kemqZ_\Ke_^h\Z l_evghhgkh\_jrbe ijhfZoh\ kihkh[ < ^_gv [ueh ijh^Zgh d] y[ehd \h ^_gv± d]y[ehdAgZqbl\ ^_gvijh^Zgh± ± d]y[ehd kihkh[< ^_gvijh^Zgh± ± \k_o y[ehdqlhkhklZ\ey_l d]y[ehdHq_\b^ghqlh\lhjhckih kh[j_r_gbyijhs_i_j\h]h Z Ij_^eh`_gb_ hagZqZ_l qlh ba o e fhehdZ ihemqZ_lky o e keb\hd [ ij_^eh`_gb_hagZqZ_lqlhbao d]k\_deuihemqZ_lkyo d]kZoZjZ Ba l g_nlb fh`gh ihemqblv l d_jhkbgZ ba l g_nlb± l d_jhkbgZbal g_nlb± l d_ jhkbgZ
Ir_gbp_caZk_yeb±

\k_]h ihey qlh khklZ\ey_l

iheyqlhkhklZ\ey_l ]Z

:HK :H' &2'

<$' $'& $<& <&' <$'$'& $<&<&'

$2% %2& &2' '2$ $2< &2' <2& '2$$2%%2& $2%'2$ %2&&2' Imklv F jZ\_go ]jZ^mkh\lh]^Z 1jZ\_go ]jZ^mkh\Z D jZ\_go ± ]jZ^mkh\KmffZm]eh\lj_m]hevgbdZjZ\gZo o o ± ]jZ^mkh\Ihmkeh\bxo o o ± o o ± o F 1 D ± Hl\_l Imklv 'jZ\_gm ]jZ^mkh\lh]^Z K jZ\_gm ]jZ^mkh\Z ? jZ \_gm ]jZ^mkh\KmffZm]eh\lj_m]hevgbdZjZ\gZm m m ]jZ ^mkh\Ihmkeh\bxm m m m m ' & ( Hl\_l < i_j\mxkf_gmjZ[hlZeh \k_oklZgdh\\h \lhjmxkf_gmjZ[hlZeh \k_oklZgdh\

Bal jm^uihemqblky l gbd_ey>ey ^h[uqbl gbd_eygZ^hi_j_jZ[hlZlv l jm^u < l fZ]gblgh]h`_e_agydZkh^_j`blky l qbklh]h `_e_aZ Bad]qZcgh]hebklZihemqblky d]qZy Bal jm^ukh^_j`Zs_cf_^bihemqblky l f_^bBal jm^ukh^_j`Zs_ckyf_^bihemqblky l f_^bKe_^h\Zl_evghbai_j\hcjm^uihemqblky[hevr_f_^b Z ± ± ± [ Djm]h\Zy^bZ]jZffZkh^_j`ZgbyfZkeZ\ evgyghfk_f_gb

GZ djm]h\hc ^bZ]jZff_ kh^_j`Zgby fZkeZ \ evgyghf k_f_gb fZkk_ fZkeZ khhl\_lkl\m_lk_dlhjdjm]Z\ Ke_^h\Zl_evgh\ djm]_g_ h[oh^bfhijh\_klb^\ZjZ^bmkZkhklZ\eyxsbof_`^mkh[hcm]he Djm]h\Zy ^bZ]jZffZ jZkij_^_e_gby \h^u b kmrb gZ a_fghc ih \_joghklb

GZdjm]h\hc^bZ]jZff_jZkij_^_e_gby\h^ub kmrbgZih\_joghklba_fgh ]hrZjZ\h^_khhl\_lkl\m_lk_dlhjdjm]Z\ Z kmr_±k_dlhj \ ± Ke_^h\Zl_evgh \ djm]_ g_h[oh^bfh ijh\_klb ^\Z jZ ^bmkZkhklZ\eyxsbof_`^mkh[hcm]heIhemq_gguc[hevrbck_dlhj khhl\_lkl\m_l\h^_Z f_gvrbc±kmr_ Djm]h\Zy^bZ]jZffZjZkij_^_e_gby^g_\ghcghjfuiblZgby

^g_\ghcghjfuiblZgbygZdjm]h\hc^bZ]jZff_bah[jZ`Z_lkyk_dlhjhf djm]Zk m]ehf\ AgZqbl:H< ±i_j\uc aZ\ljZd
FZl_jbd IehsZ^vfegd\df K_dlhj^bZ]jZffu]jZ^mku ?\jhiZ :aby :njbdZ K_\_jgZy:f_jbdZ X`gZy:f_jbdZ :\kljZeby :glZjdlb^Z KmffZ iehsZ^_c fZl_jbdh\ jZ\gZ fegd\dfAgZqblgZdjm]h\hc^bZ]jZff_fegd\dfiehsZ ^b khhl\_lkl\m_l k_dlhjZ djm]Z :H< ± ?\jhiZ

Z

[

\

]

^

Z l lq fbg fbg^f kf kf [ d] ] ]j jZ f f e kf kf Z p d] [ fbg k \ f kf ] f e Z ?kebqbkeZZ jZ\_gElhZ E IjbE D IjbE D IjbE D IjbE D [ ?kebqbkeZZ jZ\guElhZ E IjbE D IjbE D IjbE D IjbE D \ ?kebqbkeZZ jZ\guElhZ E IjbE D IjbE D IjbE D IjbE D IjbE D Z :H< ± [ :H< ± \ :H< ± ± ] <2' ± &2$ ± :H< ± ± :&' ± %$& ± ± &:' ±

%0 kf%1 kf01 kf 30%1 Ff 0%1 %01 %10 0%1%01%10 K ± ± Ba gZ^h_ggh]h aZ ^g_c hl dhjh\ fhehdZ ihemqblky d]fZkeZ Djm]h\Zy^bZ]jZffZmki_\Z_fhklbdeZkkZihfZl_fZlbd_

GZdjm]h\hc^bZ]jZff_mki_\Z_fhklbmq_gbdh\ihfZl_fZlbd_h^ghfmmq_ gbdmkhhl\_lkl\m_lk_dlhjdjm]Z\ AgZqbl:H< ± qbkeh mki_\Zxsbo gZ ©ª
fegdf gZdjm]h\hc^bZ]jZff_jZkij_^_e_gbykmrbgZA_fe_khhl\_lkl \m_lk_dlhjdjm]Z\ Ke_^h\Zl_ev gh:H< ±e_kZ
±lmg^juimklugbb [hehlZ 'H: ±iZr gy Djm]h\Zy^bZ]jZffZjZkij_^_e_gbyjZ[hq_]h\j_f_gbwdbiZ`Z

fbg jZ[hq_]h \j_f_gb gZ djm]h\hc ^bZ]jZff_ jZkij_^_e_gby jZ[hq_]h \j_f_gb khhl\_lkl\m_l k_dlhj djm]Z \ Ihwlhfm :H< ±hkgh\gZyjZ[hlZ
²

² g_ gZlmjZevgu_ qbkeZ ] ² ^_kylbqgu_^jh[b h[udgh\_ggu_ ^jh[b \

±gZlmjZevgu_qbkeZ

I_j_^pbnjhclZd`_klhyeZldaZf_gZex[hcpbnju\ qbke_ gZ^jm]mxf_gy_lwlhqbkeh

Ij_^klZ\bfwlhqbkeh^hbaf_g_gby

Z ihke_

lh ]^Zhghbaf_gblkygZ

±

G_l_kebr_klbagZqgh_qbkehhdZgqb\Z_lkygZlhijbh[jZlghc aZibkbhghg_[m^_lr_klbagZqguf KgZqZeZ\uihegyxlky\k_^_ckl\by^_e_gbyke_\ZgZijZ\haZl_f \k_^_ckl\bykeh`_gbyke_\ZgZijZ\h Z _

[ `

\ a

] b

^ d

± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± Z Z E ED DE F DEF [ D±EF D±E ±F D±E±F D±E F _kebZ ±E FEF D \ D E E D DE F DEF DE F DFEFD±E F DF±EF Z _keb\lhjh_qbkehjZ\gh[ _keb\uqblZ_fh_jZ\gh\ _keb \lhjhcfgh`bl_evjZ\_g_kebohly[uh^bgbafgh`bl_e_cjZ\_g ] _keb^_ebl_evjZ\_g?keb^_ebfh_jZ\ghZ ^_ebl_evg_jZ\_g ?keb^_ebfh_jZ\gh^_ebl_exdjhf_kemqZydh]^Zhgbh[ZjZ\gu

Z

[

Ldlh\ hklZld_lZd`_[m^_lg_ihegh_qZklgh_[m^_ljZ\gh Z o o o ijbo ijbo [ m ±m ±m m ±m m m ijbm ijbm >jh[v gZau\Z_lky ijZ\bevghc _keb qbkebl_ev f_gvr_ agZf_gZ l_ey>jh[vgZau\Z_lkyg_ijZ\bevghc_kebqbkebl_evf_gvr_bebjZ \_gagZf_gZl_ex [ \ ] Z

Z [

±

jhfZr_d

aZ\lhjmx aZi_j\u_^\_g_^_eb lh]^ZhklZehkv Hl\_l

AZi_j\mxg_^_exkrbeb ²

§ · \h \lhjmx lh]^Z hklZehkv ¨ ¸ © ¹ Hl\_l

< i_j\mx

>ebgZi_j\hcb \lhjhcklhjhg\f_kl_ jZ\gZ lhj

Hl\_l

Kugm b ^hq_jb \f_kl_ D

D

S

?keb Z ² \hajZkl hlpZ

]h^ZHl\_l]h^Z

Ihke_ i_j\h]h ^gy hklZehkv ±

\k_]h dZjlhn_ey beb

d] Ihke_ \lhjh]h ^gy hklZehkv d]Hl\_ld]

Z K [ K \ K ] K ^ K

beb

Z : ijZ\__<[ : b< h^gZb lZ`_lhqdZ\ : e_\__< Z iylbagZqgh_ [hevr_ q_luj_oagZqgh]h \k_]^Z [ lh dhlhjh_ gZqbgZ_lkygZ[hevr_lh]hqlhgZqbgZ_lkygZ\ gZlmjZevgh_qbk eh[hevr_q_f] ba^\moh[udgh\_gguo^jh[_ck h^bgZdh\ufbagZ f_gZl_eyfb[hevr_ lhm dhlhjh]h[hevr_qbkebl_ev^ ba ^\mo ^_ky lbqguo ^jh[_c k jZagufb p_eufb qZklyfb [hevr_ lh m dhlhjhc

[hevr_p_eZyqZklv_ ba^\mo^_kylbqguo ^jh[_c k h^bgZdh\ufb p_ eufbqZklyfb[hevr_lZm dhlhjhc[hevr_^jh[gZyqZklv Z !

] !

[ !

^

\

H

`

!

a b !

Z | | | | | | [ | | | \ | | | Gm`gh kmffm wlbo qbk_e jZa^_eblv gZ dhebq_kl\h wlbo qbk_e Kj_^gyy kdhjhklv jZ\gZ qZklghfm hl ^_e_gby ijhc^_ggh]h imlb gZ \j_fyaZdhlhjh_hgijhc^_g Z F 1 J < JZkklhygb_jZ\gh:< df [ aZi_j\u_^\ZqZkZ$1 df \ 1% $%±$1 ± df ] aZqZkZ:J df ^ \ i_j\u_^\ZqZkZ dfq\ i_j\u_ljbqZkZ dfq Z _

[ `

\ a

] b

^ d

>_kylbqgZy^jh[v±wlh^jh[vagZf_gZl_evdhlhjhcdjZl_gaZ ibku\Zxl __ ki_pbZevguf h[jZahf k ihfhsvx aZiylhc gZijbf_j \ wlhfqbke_^_kyluokhluolukyqguo^_ky lblukyqgZyIjbijbibku\Zgbbgme_ckijZ\ZhlaZiylhc\ dhg_p^jh [b^jh[vg_f_gy_lky

Z agZf_gZl_evhklZ_lkyl_f `_ Z qbkebl_eb kdeZ^u\Zxlky \u qblZxlky [ dZdgZlmjZevgu_qbkeZlhevdhgm`ghmjZ\gylvdhebq_kl\hagZdh\ihke_ aZiylhc \ ^jh[bmfgh`ZxlkydZdgZlmjZevgu_qbkeZlhevdh\ hl\_l_qbkehagZdh\ ihke_aZiylhcjZ\ghkmff_qbkeZagZdh\ihke_aZiylhc\ khfgh`bl_eyo ] \ ^jh[baZiylZyk^\b]Z_lky\ijZ\hgZagZdZb l^ ^ ^jh[v ^_eblky gZ qbkeh dZd qbkeh gZ qbkeh lhevdh \ qZklghf aZiylZy k^\b]Z_lky\e_\hgZqbkehagZdh\ihke_aZiylhc\ ^_ebfhf _ qbkeh^_eblkygZ^jh[vdZdgZqbkehlhevdh\ qZklghfaZiylZyk^\b]Z_l ky\e_\hgZqbkehagZdh\ihke_aZiylhc\ ^_ebfhf ` \ ^jh[baZiylZyk^\b]Z_lky\e_\hgZagZdZb l^ a \ ^jh[baZiylZyk^\b]Z_lky\e_\hgZagZdZb l^ b \ ^jh[baZiylZyk^\b]Z_lky\ijZ\hgZagZdZb l^ Z ± ± [ ± ± ± ± \ ± ± ± ± ± ± ± ] ± ± ± ± ± ± ^ ± ± ± ± ± _ ±± Z o m o ± m o m o ± ±m o o m ±m o m ijbo m [ j ± P S P S ± P S P S±PSP S±P ijbj P ± AZh^bgjZafh`ghi_j_\_alb lLh]^Z ^eyi_j_\hadba_jgZihlj_[m_lky ih_a^hdHl\_lih_a^hd KgZqZeZaZ\h^ba]hlZ\eb\Ze fZrbg\ ^_gvaZl_fke_ ^mxsb_± ^g_c fZrbgaZ^_gvAgZqblaZ^g_c aZ\h^ba]hlh\be fZrbgHl\_lklbjZevguofZrbg K_cqZk hl_p klZjr_ kugZ gZ ± e_l Q_j_a ^\Z ]h^Z hlpm ]h^Zkugm e_lAgZqblhl_p[m^_lklZjr_kugZ\ jZaHl\_lgZe_l\ jZa

Z bakmffu\uqblZ_lkyba\_klgu_keZ]Z_fu_ [ d jZaghklbijb[Z\ey_lky\uqblZ_fh_ \ bamf_gvrZ_fh]h\uqblZ_lkyjZaghklv ] ijhba\_^_gb_^_eblkygZba\_klgucfgh`bl_ev ^ ^_ebl_evmfgh`Z_lkygZqZklgh_ _ ^_ebfh_^_eblkygZqZklgh_ Z o o ± o o o Hl\_l [ m m m ±m m Hl\_l \ Z ±Z Z Z Z Hl\_l ] EE E E E Hl\_l ^ P ± P P P P P P Hl\_l _ N±N N N N Hl\_l < i_j\hfb \lhjhf iZd_lZoy[ehdihjh\gmZ keb\ \h \lhjhf gZ [hevr_ agZqbl keb\ \_kyl ± d] lh]^Z h^gZ keb\Z \_kbl d]beb]y[ehdZ\_kyl± d]AgZqblh^ghy[ ehdh\_kbl d]beb]Hl\_l]] FZkkZ ^f klZeb jZ\gZ d] Lh]^Z ^f klZeb \_kyl d]AgZqbl^f klZebly`_e__^f ^_j_\ZgZ± d] Hl\_lgZd] Imklv fZkkZ kehg_gdZ o lh]^Z kehgboZ o Z \f_kl_ o o o o o o o Hl\_ll Imklv[ueho `_gsbglh]^Zfm`qbgobf__foo±± [ ± [ o o Hl\_l`_gsbg ImklvK_g_o e_lo ± o o Hl\_le_l ImklvDZl_o e_lo o o ±o Hl \_le_l Imklvghqvo fbgmllh]^Z^_gvo fbgZ \k_]h fbgo o o ±o o fbgbebq fbgHl\_lq fbg Imklvijh]medZ^ebeZkvo fbgmllh]^Zql_gb_o fbgo ±o o o o fbgbebqZkHl\_lqZk

Ijhp_glhfgZau\Z_lkyh^gZkhlZy^heyQlh[ugZclbhlqbk eZgm`ghqbkehjZa^_eblvgZQlh[ugZclbijhp_glh\hlqbkeZ gm`ghqbkehjZa^_eblvgZb mfgh`blvgZ Imklv\ iZeZldmhlijZ\bebo llh]^Z\ fZ]Zabgo Z \k_]h\ iZeZldmb fZ]Zabg lo o o ± o o l bebd]Hl\_ld] GZ kdeZ^_ hklZehkv ± AgZqbl [ueh gZ kdeZ^_ f < i_j\uc ^_gv ijh^Zeb fHl\_lff I_j_k_dZxlky)(b 13)(b 54 ;Zba^\mohlj_adh\[hevr_lhlm dhlhjh]h[hevr_^ebgZ [ ^Zba^\mom]eh\[hevr_lhlm dhlhjh]h[hevr_]jZ^mkgZyf_jZ >ebghckf±\e_\hhlb \ijZ\hex[h_dhebq_kl\h^ebghckf ±\e_\hb \ijZ\hex[h_dhebq_kl\h Z <: '&

[ :K !K<

\ :K %'

] :'!%&

01 '&'10& kf J :<ebgZ baf_jy_lky \ fbeebf_ljZo kZglbf_ljZo^_pbf_ljZof_ljZob dbehf_ljZoM]eubaf_jyxl\ ]jZ ^mkZo
:HF KHJ DH<

:H< KHJ

$2% '2% $2' &2' $2& $2' $2% $2'± ± '2% &2' $2' ± $2& Ld '2% $2& $2% &2' $2% &2' &2' $2& $2' $2% $2' %2' $2& $2' %2' $2& %2' $2'± $2' $2& %2' hl beb Z [ ] ^

h^bg qZk ± wlh \

Z _

[ `

\ a

] b

^ d

Imklvo kdhjhklvIZrbo ±±kdhjhklvk[eb`_gbydffbg ffbg ld6 YW o ± o ± o Hl\_l ffbg

Imklv o kdhjhklv Dheb lh]^Z o kdhjhklv K_j_`b Kdhjhklv k[eb`_gbyo ±o o ±o o o ffbgHl\_l ffbg Imklvo kdhjhklv]jmah\hcfZrbgulh]^Zkdhjhklve_]dh\hc±o Kdhjhklv k[eb`_gby o o o o o o o Hl\_ldfqdfq Imklvo²kdhjhklvh^gh]hlh]^Zo ²kdhjhklv^jm]h]h o o

o o ± o o o Hl \_ldfq bdfq Imklvo ±kdhjhklv\_ehkbi_^bklZhg_oZe qZkh\o o ±o o Hl\_ldfq

Imklvo ±kdhjhklv\lhjh]hlh]^ZkdhjhklvjZkoh`^_gbyi_r_oh ^h\ odfqLdhgbrebq bf__fo o o Hl\_ldfq Imklvo ±kdhjhklvDZlblh]^Zo ±kdhjhklvKZrbb o ±o ±kdh jhklvk dhlhjhcKZrZ^h]hgyeDZlxo ±o o o Hl\_lffbg Imklvi_j\uc_oZeo qZkh\lh]^Z\lhjhco±qZko ±o ± o o ± o o Hl\_lq ± Hl\_ldf KdhjhklvdZl_jZihl_q_gbx dfqlh]^Z_]hkdhjhklv ijhlb\l_q_gby±± dfqAgZqblhgaZljZlblgZh[jZlguc imlv q bebq fbg ]Z ZZ f^f kff kf ff kfkf ff ]Z]Z df Z ^f f kf f ^f f kf f f ^f f [ ^f ff f^f f \ fbg qfbg qfbg qq fbg q ] d] ld] ld] ld] l fbg q fbgkZfZydhjhldZyghqvq ±q fbg q fbgHl\_lq fbgq fbg Z 6 DE]^_Z bE^ebgu_]hjZaebqguoklhjhg [ 6 Z]^_Z ±^ebgZ_]hklhjhgu \ 9 DEF]^_DEF±^ebgu_]hj_[_j ] 9 D]^_Z ^ebgZj_[jZdm[Z ^f kff ^fe ^fkf ^f

kf f Ba ijyfhm]hevgbdh\ ]jZg_c j_[_j \_jrbg dm[ ± wlh ijyfhm]hevguciZjZee_e_ibi_^ m dhlhjh]h \k_ j_[jZ jZ\gu ih\_jo ghklvdm[Zkhklhblbad\Z^jZlh\j_[jZdm[ZjZ\gu Z iehsZ^bjZ\guonb]mjjZ\gu [ iehsZ^vnb]mjujZ\gZkmff_iehsZ^_ckhklZ\eyxsbo__qZkl_c \ h[t_fujZ\guonb]mjjZ\gu ] h[t_fnb]mjujZ\_gkmff_h[t_fh\khklZ\eyxsbo__ qZkl_c 6 DE kf ^fHl\_l^f Z 9 DEF kf ^fHl\_l ^f [ 9 D ^f fHl\_lf f kf ^f kf 6 Ff Z 6E kfJ kfJ kfJ !3

Imklvo ±rbjbgZijyfhm]hevgbdZlh]^Zo ±_]h^ebgZo o o o f o f 6 DE f f

J:
>ebgZjZ\gZZ 9 D D DD ^f±kff kfH[t_fdm[ZjZ\_gZ kfh[t _f[jmkdZ9 DEF kfh[t_fhklZ\r_ckyqZklb± kf kf JZ\gu \g_rgbc d\Z^jZl \_jog_]h jbkmgdZ b \g_rgbc d\Z^jZl gb`g_]h\gmlj_ggbcd\Z^jZl\_jog_]hb \gmlj_ggbcgb`g_]h K D: J F O) %

J_[jZ\_jog_c]jZgb:<<JJDD: gb`g_c &' '1 10 0& i_j_^gyy]jZgv<JFK\_jrbguijZ\hc]jZgb:<KJ
Lhqdbhdjm`ghklbjZ\ghm^Ze_guhlp_gljZjZ^bmk±wlhhlj_ahd h^bgdhg_pdhlhjh]hy\ey_lkyp_gljhfZ ^jm]hce_`blgZhdjm`ghklb ^bZf_lj±hlj_ahdijhoh^ysbcq_j_ap_gljh[ZdhgpZdhlhjh]he_`Zl gZhdjm`ghklb

Z ± [ \ ± ] ^ ± _ ± ± Z ± [

Z o o o o o Hl\_l [ o ±o o o o Hl\_l Z

[

Z

\

[

§ · [ ¨ ¸ © ¹

]

Z

§ · ] ¨ ¸ © ¹ \

K_juo]mk_c± beb

h[s_]hdhebq_kl\Z

>\m]hj[uo± beb

f

f f ^f f f ^f f f ^f

q fbg q fbg q fbg q fbg

Imklvo ± ijh^he`bl_evghklv ^gy lh]^Z o ± ± ijh^he`bl_ev ghklvghqbo o ± o o fbgbebq fbgHl\_lq fbg Z \ ^

[ ! ] ! _ !

Imklv \_ehkbi_^bkl _oZeo qZkh\ lh]^Z i_r_oh^ r_e o qZkZ o o o oo o Hl\_lq Kdhjhklvk[eb`_gbyQ Q dfqW 6YW qZkh\Hl\_lqZkh\

Imklvo ±kdhjhklv\lhjh]hih_a^ZI_j\ucih_a^r_e qZ kh\\lhjhcqZkZbf__fo o ±o o Hl\_lfq Imklvo ±\j_fyq_j_adhlhjh_jZkklhygb_f_`^mih_a^Zfb[m^_l dfbf__fo o o o o o Hl\_lqZkZ

Imklvo²kdhjhklvi_j\h]hlh]^Zo² kdhjhklv\lhjh]hBf_ _f o o ± o o ± o o o ± Hl\_l dfqdfq Kdhjhklvl_iehoh^Zihl_q_gbx dfqZ ijhlb\± dfq6 dfHl\_ldf

Z ± ± ± [ ± ± \ ± ± ] ± ± ± ^ ±± ± ± ± _ ± Z Z Z Z Z [ EE E Z m m m ijbm [ PP P ijbP ± fZe_gvdb_ dhjh[db kh^_j`Zl ± dZjZg^Zr_c h^gZ h^gZ[hevrZy± ± Hl\_l Imklvo ±rbjbgZijyfhm]hevgbdZlh]^Zo ±_]h^ebgZo o o o o Hl\_lkfkf

Imklvo ±fZkkZiZkkZ`bjh\lh]^Zo fZkkZZ\lhfh[bey ©
Imklv o ± iehsZ^v aZk_yggZy yqf_g_f lh]^Z o ± iehsZ^v ih^ ir_gbp_cZ o o ±aZk_yghjh`vxo ±o o o o Hl\_l]Z]Z]Z
3

% Lhqdb: b< ±wlhlhqdbi_j_k_q_gby^\mohdjm`ghkl_cp_gljum dhlhjuo F bJZ jZ^bmkkf Oh^bfdhg_fbade_ldbihf_q_gghca\_a^hqdhc > G B L J M L ? ? B I J ? Hl\_ll_ji_gb_b ljm^

5

Read more

Dämonenerbe (5 of 5)

Read more

5)

Read more

5

Read more

5)

Read more

5)

Read more

5)

Read more

5)

Read more

De Weeskinderen 5-5

Read more

Doelwit 5

Read more

5 Stories

Read more

Target 5

Read more

Libro 5

Read more

РНР 5

Read more

Schlachthof 5

Read more

Analog 5

Read more

Банда 5

Read more

Nemesis 5

Read more

Schlachthof 5

Read more

5 Steps to a 5 AP Chemistry

Read more

Der Galgenbaum im Jenseits (5 of 5)

Read more

Analog 5

Read more

Вавилон-5

Read more

Interlude 5

Read more

Target 5

Read more

BittentoDeath_chap-5

Read more

Kalvan 5

Read more

Abattoir 5

Read more

Технология 5

Read more

Lovers 5

Read more

Recommend Documents

5

Dämonenerbe (5 of 5)

M'Raven Dämonenerbe Version: v1.0 »Meister San! Meister San!« Der junge Mann im sa frangelben Gewand der buddhistisc...

5)

5

5)

5)

5)

5)

De Weeskinderen 5-5

Doelwit 5

Report "Домашняя работа по математике. 5 класс"

Your name

Email

Reason

Description

Copyright © 2024 EPDF.TIPS. All rights reserved.
About Us | Privacy Policy | Terms of Service | Copyright | DMCA | Contact Us | Cookie Policy

Sign In

Email

Password

Remember me Forgot password?

Login with Facebook

Our partners will collect data and use cookies for ad personalization and measurement. Learn how we and our ad partner Google, collect and use data. Agree & close