PQRQSTUVWXYYZ[\RX]S
^_QT`abcRTdQcT
eQ_fQaTg\aaQc
h_aT`ibQc\ab
PSXjkYlQa
IJKLMN
OPQRSTUSVW XYZ[Y\R]^S_`
a
bY_cdWePUVfUPdgWh^ciNUVdPW OdPcS`YR^WRfcjcfPWkf^Y_`
la
bY_cdW^f`S_TdgWmYRUW IVWndPofRTWTf^Wpq_ocf_Wrd_cU_f_c^
ss
bY_cdWcfPZfUPdgWhjfY_Uf_W tY^WY_TfPfWu_TfWTfPWXfRc
lvs
bY_cdWwSYPcdgWxYyYW I_Td_f^U^Z[fWzZ[Yccf_^eUfRf
v{|
bY_cdWwSU_cdgWO[URUeeU_f_W tUfWI_^fR_WTf^W}Y`fRRY_
v~|
bY_cdW^fcdgWb[U_YW UccfPfWS_TW`f[dPZ[f
vsl
bY_cdW^cUVdgWrY^YZ[^cY_W tUfW}YZ[cWTfPWzcfeef
a
bY_cdWdUcYydgWrUP`U^cY_W tUfWu_ccQS^Z[S_`WTfPWNSRef_ifydRScUd_
ueURd`W tfPWJYZ[RY
~
l
OfP^d_f_Pf`U^cfP
~|l
PQRSTUVTW
XYZ[Y\]^_`ab
cdef_ghagifjg_`Z[fhifkdalgameYmhda_]Ybgefj`Z[ganY]ifYifjkfl`ahfmnnopf_dfnheif\gehZ[mgmpf[YmfjYeYZqfr\YiYfghagafsd]hmh_Z[gafUhY]dbfihm tabg]YfWgeqg]fbguv[emkfwhagf[gel]hZ[gftmid_s[xegf_ghfiY\ghfahZ[mfY`ubgqdiigakfw_f[ghympfigefYigehqYah_Z[gfPex_higamf[Y\gfihgfkYal]gehafYi waigfihmfghagifÜ[giYfv\geeY_Z[mpfiY_fhifÝgegha\Yemgaft`_mY`_Z[fahZ[mfÝdebg_g[gafnYekfÞXYe`if_haifßhgfbgbgafghagafjghmehmmfigefÜveqghfl`e w`edsxh_Z[gafTahdaàáf_d]]fr\YiYfY\e`smfbgueYbmf[Y\gakfQg]YmYfegugedkfw_fux]]mfahZ[mf_Z[ngepf_hZ[fihgfteb`igamgfigefig`m_Z[gafkYal]geha Ýdel`_mg]]gapfihmfigef_hgfh[egft\]g[a`abf`aifihgfigefigh_mgafw`edsxgef\gbevaigmgkfUhgfÜveqghpf_dfiYbf_hgfgambgbgabg[Y]mgaf[Y\gapfngh_g adZ[fge[g\]hZ[gfUguhlhmgfhafßYZ[gafUgidqeYmhgf`aifWga_Z[gaegZ[mgfY`ukfUgefâãsgeaäUh_s`mf_ghfahZ[mf\geghahbmkfUhgfÜveqghfÝge[Y]mgf_hZ[ egseg__hÝfbgbgav\gefh[egafgm[ah_Z[gaf`aifqdaug__hdag]]gafWhaige[ghmgakfåvefiY_fk`eigased\]gif_ghfmedmlfghahbgefiveumhbgefâ`bg_mxaiah__g qghagfnheq]hZ[gfQgbg]`abfhafßhZ[mkfUhgfw`edsxh_Z[gfTahdaf_ghfl`igifqghag_ngb_f\gbgh_mgemfÝdafigefPge_sgqmhÝgpfhifåY]]fghag_fmveqh_Z[ga jghmehmm_f`aihmmg]\YegefæYZ[\Yefig_fkY`qY_`_pfVeYa_f_dnhgfWg_dsdmYihga_fl`fngeigaf`aif`anghbge]hZ[fhafigegafç`geg]gafÝgenhZqg]mfl`f_ghak w_fnxegfmYqm]d_fbgng_gapfghagifYigehqYah_Z[gafPYemagefbgbgav\gepfig__gafcYmgef`amgefigif\ehmh_Z[gafkd]dahY]h_i`_fbg]hmmgaf[Ymmgf`ai ig__gafåeY`fihgfæYZ[uY[ehafng_mYuehqYah_Z[gefßq]YÝgafh_mpfihgfq`]m`eg]]gfdigefbYefgm[ah_Z[gfwhalhbYemhbqghmfig_ft\gai]Yaig_fl`f\gmdagapfihgfg_ bgbgav\gefghagefiY__hÝgafm`eYah_Z[gafâ`nYaige`abfY`_ftaYmd]hgafl`f\gnY[egafbg]mgkfßg]\_mfghafcgengh_fY`ufihgfTaÝgegha\Yeqghmflnh_Z[ga igefZ[eh_m]hZ[gafTe_`\_mYalfw`edsY_fèfihgfihgfkYal]gehapfd\nd[]f_hgfcde_hmlgaigfghagefZ[eh_m]hZ[gafPYemghfh_mpfd[ag[hafqY`ifgenx[amfèf`aifige _sgqmYq`]xegafQvZqngai`abfigefsd_mäqgiY]h_mh_Z[gafÜveqghfl`efSg[egfig_fPeds[gmgafWd[Yiigifnxegf`aYabg\eYZ[mfbgng_gakfjYeYZqfr\YiY \gqgaamf_hZ[flnYefhafY]]gefådeifl`ifZ[eh_m]hZ[gafé]Y`\gapfidZ[fihgfi`_]hih_Z[gfQg]hbhda_l`bg[^ehbqghmf_ghag_fcYmge_fegh[mfh[af]Y`m qdeYah_Z[gifég_gmlf`anhigee`u]hZ[fhafihgfQgh[gafigefh_]Yih_Z[gafTiiYfghak æYZ[figifßm`eifigefjgbgh_mge`abpfigafihgfXY[]fjYeYZqfê`__ghafr\YiY_fl`ifixZ[mhb_mgafWYaafigefXg]mfhafw`edsYpfig[efadZ[fY]_fha tigehqYpfY`_bg]^_mf[YmpfqdiigafnhefahZ[mf`i[hafug_ml`_mg]]gapfiYyfihgfjglhg[`abgaflnh_Z[gafigeft]mgaf`aifigefæg`gafXg]mfahZ[mfig[efihg b]ghZ[gaf_ghafngeigakftafhauYigaftabehuugapfYafmvZqh_Z[gafcge]g`ii`abgafnheifg_fhafâ`q`aumfahZ[mfug[]gakfw_fbh\mfl`fÝhg]gfegYqmhdaxegfTß ëhmhlga_pfihgf_hZ[fihmfigefPex_galfghag_f_Z[nYelgafWYaag_fhifXghygafêY`_fahZ[mfY\uhaigakfUhgfeY__h_mh_Z[gafcde`emgh]gpfihgfXh]]hYifåY`]qage ÝdefbYefahZ[mf_df]YabgefâghmfhafigefY\be`aimhgugafUv_mgeah_f_ghagefQdiYagfY`_figifÞmhgugafßvigaáf_Z[h]igemgpf_haifÝhg]gedem_fadZ[fsex_gamkfUhg UxidagafnYemgafY`ufh[egfwamug__g]`abkfßZ[dafig]igaf_hZ[fßmhiigafl`fXdempfihgfihgfYigehqYah_Z[gfßmYYm_Yabg[^ehbqghmfr\YiY_fhafåeYbg _mg]]gaf`aifihmfigefjg[Y`sm`abfY`umegmgapfgef_ghfhafVaidag_hgafY]_fW`_]hifY`ubgnYZ[_gak ßg]\_mfhafg`edsxh_Z[gaféYlgmmgafqdiimfs]^ml]hZ[fèfÝgei`m]hZ[fY]_fQgYqmhdafY`ufihgfbeYaihd_gfQgigpfihgfgefhafkYhedf[hg]mfèfigefcden`eufY`up ihg_gefÞëdiiYaigeähaäë[hguáfbg[gfahZ[mfihmfigefbg\dmgagafih]hmxeh_Z[gafégnY]mfbgbgafihgfV_]Yih_Z[gfQgs`\]hqfVeYafÝdepfgef[Y\gfi`eZ[ _ghagafcgelhZ[mfY`ufigaft`_\Y`fghag_fQYqgmga_Z[hei_fhafPd]gafigafXg_mgafigefa`q]gYegafjgied[`abfi`eZ[fßZ[`eqga_mYYmgafig_frehgam_ Y`_bg]hgugempf`aifbgbgav\gefV_eYg]faghbgfgefghagefsedsY]x_mhaga_h_Z[gafêY]m`abfl`k UY_fßZ[hZq_Y]fWYemhafS`m[gefkhab_f[xabmfY]_fiv_mgegfWY[a`abfv\gefihg_gifWYaapfigefgaibv]mhbfigefweqgaamah_fl`ifU`eZ[\e`Z[fÝge[Y]upfiYy ihgfsd]hmh_Z[gft`_ehZ[m`abfigefTßtfahZ[mfig[efi`eZ[fghagfjgÝ^]qge`ab_ihaige[ghmfiguhahgemfnheipfihgf_hZ[fev[imgpfÞX[hmgpftab]däßYìdafYai Pedmg_mYamáfl`f_ghakfXg]Z[g_fY`Z[fhiigefiY_fßZ[hZq_Y]fig_fígmlhbgafPex_higamgaf_ghafiYbpf[hgefh_mfghafUghZ[fbg\edZ[gakfUY_ftam]hmlfige cgeghahbmgafßmYYmgafnheifl`ag[igaifÝdafigefWY__gfigefSYmhad_fèfhafigefWg[e[ghmf_sYah_Z[ähaihYah_Z[gfWg_mhlgafèpfigeftuedätigehZYa_f`ai ghagefnYZ[_gaigafâY[]fÝdaft_hYmgafbg_mY]mgmfngeigakfUhgfgha_mfihyYZ[mgmgafkYm[d]hqgaf\h]igaf\geghm_fihgf\ghfnghmgif_mxeq_mgfZ[eh_m]hZ[g kdaug__hdak î w_f_d]]fahZ[mfigefVeem`ifY`uqdiigapfiY_fÝde]hgbgaigfj`Z[f\g_Z[xumhbgf_hZ[fÝdeeYabhbfihmftigehqYkft`Z[fihgfPed\]gigfigefw`edsxh_Z[ga Tahdaf_haifahZ[mfiY_fÜ[giYkfUhg_gefQgh_g\gehZ[mfh_mfigefhamga_hÝgafsge_^a]hZ[gafweuY[e`abfig_ft`mde_fbgnhiigmpfiY__fihgfidihaYamgfReYfig_ ÞnghygafWYaag_ápfigef_hZ[f`ifïonnfihgfbYalgfXg]mf`amgemYafbgiYZ[mf[Ymmgpfh[egafwais`aqmfgeeghZ[mf[YmkfégaY`fghaf[Y]\g_flY[emY`_gaif[Ym ihg_gfs[xadigaY]gfwìsYa_hdaf`aifh[egflx[gfjg[Yee`abfbgiY`gemkfUhgfgha_ghmhbgfcdeeYab_mg]]`abfw`edsY_fn`eigfhiflnYalhb_mgaflY[e[`aigem i`eZ[fihgfcgeghahbmgafßmYYmgafÝdaftigehqYfèfÝdafigféY`]]gfY]_fÞÜdZ[mgefw`edsY_fèfuh]]gfigf]ðw`edsgáf\glghZ[agmfèfY\bg]^_mf`aifYis]huhlhgemk ßghmfwaigfig_fânghmgafXg]mqehgbg_f_hg[mf_hZ[fihg_gfmeYa_Ym]Yamh_Z[gft]]hYalfb]d\Y]gafWYZ[mÝge_Z[hg\`abgafY`_bg_gmlmpfigagaf_hgf_Z[dafY`_ igidbeYs[h_Z[gaféevaigafahZ[mfbgnYZ[_gafh_mkfUgifÞnghygafWYaaáfh_mfíYfahZ[mfa`efiY_fWdadsd]fhai`_mehg]]gef`aifih]hmxeh_Z[gefñ\ge]gbga[ghm Y\[YaigafbgqdiigakfV[ifug[]gaf[g`mgfÝdefY]]gifiY_fßgai`ab_\gn`ym_ghapfihgfS`_mfYift\gamg`gef_dnhgfihgfjgeghm_Z[Yumfl`e ßg]\_mY`udsuge`abpfY`ufihgf_hZ[f_ghafhisgehY]gefta_se`Z[fbevaigmgkfShmgeYeh_Z[fghabg]ghmgmfn`eigfihgfwsdZ[gfig_fg`edsxh_Z[gafVifsgehY]h_i`_ i`eZ[fihgfiãm[h_Z[gafæYÝhbYmdegaäég_xabgfig_fPdem`bhg_gafS`ò_fcYlfigfëYióg_kfV[efwaigfn`eigf_ãi\d]h_Z[fYabgig`mgmfhafQ`iãYeifkhs]hab_ SgbgaigfÝdafigifÞWYaapfigefk^ahbf_ghafnd]]mgáf`aifigefhafigafßZ[]`Z[mgafÝdafkYuheh_mYafèf_dfaYaamgfiYafiYiY]_fihgfYub[Yah_Z[gfPedÝhal æ`eh_mYafèfhafghagaf\diga]d_gaft\be`aif_mvelmgkfUhg_gefÞt\bg_Yabáfh_mfngigefghagfsYm[gmh_Z[gfPeds[glgh`abfadZ[fghagfad_mY]bh_Z[gfk]Ybgk Uhgfâ`_Yiiga_mg]]`abfigef_g[ef`amge_Z[hgi]hZ[gafkYshmg]f[Y\gfhZ[figifâ`uY]]fighagefQgh_ged`mgfv\ge]Y__gakfVafihg_gifP`aqmfuv[]mgfhZ[fihZ[ igafXg]m`i_gb]geafigefwamigZqgelghmfÝge\`aigapfihgfhafdlgYah_Z[gf`aifmgeeg_meh_Z[gfXghmgafÝde_mhgygapfd[agf_hZ[fh[egefsexlh_gafâhg]_gml`ab \gn`ymfl`f_ghakfUhgfbgdbeYs[h_Z[gfUhiga_hdafihg_gefßYbYfig_fæhgigebYab_fh_mflnYab_]x`uhbf`aÝd]]_mxaihbf`aifivymgfi`eZ[fnghmgegfQgbhdaga gebxalmf`aif\g_mxmhbmfngeigakfUY_fPedígqmf_mg[mf`a_fíYfadZ[f\gÝdek WYafiYbfihefgambgbga[Y]mgapfihgfÞtab_mfig_fnghygafWYaag_áf_ghfghafPedi`qmfighagefP[YamY_hgpf`aifg_f]g\gf_hZ[fidZ[fnghmge[hafegZ[m \gô`gifhafihg_gefÞjeYÝgfægnfXde]iápfihgf_hZ[figifW`]mhq`]m`eY]h_i`_f`aifigefW`]mhgm[ahlhmxmfgebg\gaf[YmkfVZ[f\haf_dfY]mpfiYyfhZ[fihgfßm`aig ghagefYq`mgafjgied[`abfnd[]fahZ[mfig[efgef]g\gafngeigkfUdZ[f_Z[dafihgfqdiigaigfégageYmhdafnheif_hZ[fihmfigef_Z[igel]hZ[gaftasY__`ab YafghagfhaugehdegfQd]]gfhifb]d\Y]gafkexumg_shg]pfYafbg_Z[n`aigag_fPeg_mhbgfY\uhaigafiv__gaf`aifihmfigifmeYbh_Z[gafåYm`if]g\gapfiYyfiga
nghygafêgeegafÝdafbg_mgeafiY_f_YZ[mgft\b]ghmgafhafQg_hbaYmhdaf`aifjgig`m`ab_]d_hbqghmf\gÝde_mg[mkfUgeft`_ie`ZqfÞX[hmgfWYaáfh_mf[g`mgfíY _Z[dafÝges^amf`aifihmfigifrih`ifig_fQY__gaivaqg]_f\g[Yumgmk î â`axZ[_mf_mg]]mf_hZ[fihgfåeYbgõfXgefh_mfv\ge[Y`smfghafXghygeàfßdfnghmf]hgbmfigefqd]]gqmhÝgfXY[anhmlfíYfahZ[mfl`evZqpfigef_hZ[fhaft]uegi Qd_ga\geb_fWãm[d_fig_fmnkflY[e[`aigem_fduuga\Yemgf`aifl`ifQg]hbhda_ge_Ymlfig_fUehmmgafQghZ[g_fn`eigkfUhgfwhanYaige`ab_\g[^eigafige Tßtpfihgfv\gef_megabgfgm[ah_Z[gfç`dmgafnYZ[mgapf[Ymmgafuvefihgfnghygafw`edsxgefigaft`_ie`ZqfÞëY`ZY_hYaáfbgu`aigakfVZ[fnh]]fihZ[f[hge ahZ[mfhafihgfÝge_Z[hgigagafQY__gam[gdehgafÝgeheegapfihgfÝdaféd\hagY`pfêd`_mdafßmgnYemfë[Yi\ge]Yhaf`aifiYaZ[fYaigegafhafihgfXg]mfbg_gmlm n`eigapf`if_Z[]hgy]hZ[fihmfigiftehgeäjgbehuufigefæYmhdaY]_dlhY]h_mgafhafbeY`ga[YumgefWga_Z[gaÝgeYZ[m`abpfhafi^eigeh_Z[gefßg]gqmhdafl` bhsug]akfßZ[daf_g[efuev[fbY\fg_figafjgbehuufÞVaidg`edsxgeápfigefhafUg`m_Z[]Yaifl`efXdem\h]i`abfÞVaidbgeiYagaáfuv[emgkfwhagfig`m]hZ[ geqgaa\Yegf]hab`hf_mh_Z[gfcgenYaim_Z[Yumf_sYaamgfíYfmYm_xZ[]hZ[fghagafQhg_ga\dbgafÝgenYaimgefVihdigfÝdiftm]Yamhqf\h_fl`iféYabg_fhafiga w\gagafVaihga_kfßdbYefihgfc^]qgeftub[Yah_mYa_fèfPY_Z[m`agaf`aifÜYi_Z[hqgafèfegh[mgaf_hZ[fhafihg_gfkYmgbdehgfghakfjghfqghagi jgbevy`ab_bg_sexZ[pfiY_fhZ[fhafigafgam]gbga_mgafrem_Z[YumgafYifêhai`q`_Z[fuv[emgpf[YmmgfigefUdeux]mg_mgfg_fÝge_x`impfY`ufihgfgabg cge\`aiga[ghmflnh_Z[gaftub[Yagaf`aifUg`m_Z[gafl`fÝgengh_gapfngh]f_hgfíYf\ghigftehgef_ghgakfUY_fXdemf_g]\_mf_mYiimfnd[]f`e_sevab]hZ[fY`_ Pge_hgapfndfigefk`]m`eqegh_fÞVeYaáf_hZ[fhaf\ghaY[gfiYahZ[xh_Z[gefßmegabgfÝdafigafædiYiga_mxiigafÞÜ`eYa_áfY\_daigemgkfUgefßZ[Y[ähaä ßZ[Y[fPge_hga_fme`bf\h_fl`]gmlmfigafÜhmg]fÞtehYfWg[eáfèfSg`Z[mgfigeftehgek VafÜg[geYaf\hafhZ[fl`fâghmgafWd[YiigifQglYfPY[]gÝh_fihmfigifr\gesehg_mgefigefâYeYm[`_meYäégighaigfl`_Yiigabgmeduugapfigi ÞâYei`_Z[mhápfnhgfiYafidemf_YbmkfUhg_gfée`ssgfÝdafgmnYfönfnnnfWga_Z[gafn`eigfÝdafigefPY[]gÝhäUãaY_mhgf\g_daige_fbgu^eigempfY\gefY`Z[ Ýdafigefk[dighahäQgÝd]`mhdafhafihgfkYmgbdehgfigefÞåYih]hgfig_fj`Z[g_áfY`ubgadiigakfßhgfh_mfhafigefWYí]h_fèfigifPYe]YigamfèfÝdafÜg[geYa i`eZ[fghagaft\bgdeiagmgafÝgemegmgakfUgefldedY_meh_Z[gfÞWYbhápfigef_hZ[f_ghagelghmfd[agfßZ[g`fÝdef`a_gegefkYigeYfx`ygemgpfnYefghafb]v[gaige PegihbgefigefQgha[ghmfigefYeh_Z[gafQY__gpfihgfl`f\gnY[egaf_ghaf[^Z[_mg_fta]hgbgafnYekfÞXgaafghagf`a_gegefåeY`gafghagafWYaaf[gheYmgmpfige Yaf`a_gegifåg`geq`]mfahZ[mfmgh]ahiimpfiYaafÝgeihgamf_hgfigafÜdikáfWYafiveugfidZ[fahZ[mfgi]gpfhaf[g]]gefPeYZ[mf\]v[gaigfPu]Yalgafihmfigi Xv_mgabg_mevssfig_fTenY]ig_fÝgeih_Z[gakfUhgfUYe_mg]]`abfâYeYm[`_meY_fhafigafÜgisg]afihg_gefgha_mfY]]ixZ[mhbgafQg]hbhdafigefY]msge_h_Z[ga QghZ[gfigeftZ[xigahigaf\h_fl`figafßY__YahigafnYef_mgm_fhigamh_Z[kfUgefPeds[gmpfigefåehgiehZ[fæhgml_Z[gfl`eftaqvaihb`abfig_ Þñ\geiga_Z[gaáfYaegbgaf_d]]mgpfge_Z[hgaf`amgefigafâvbgafghag_f\]daigapf\]Y`x`bhbgafêg]igakfVafigef_Z[a^igafXheq]hZ[qghmfigefégbganYem sex_gamhgemgf_hZ[figef[d[gfruuhlhYampfigifhZ[fhafÜg[geYafbgbgav\ge_YypfY]]geihab_fY]_f_Z[ixZ[mhbgpfi`aqg][YYehbgfwe_Z[gha`abkfßghag ég_hZ[m_lvbgf[xmmgaf_hZ[f_dbYefuvefígagfY\_Z[g`]hZ[gafkYehqYm`egafbgghbagmpfihmfigagafhifUehmmgafQghZ[fiY_fYamh_gihmh_Z[gfêgml\]YmmfUge ßmveigef_ghagfnhige]hZ[gfkYisYbagfbgbgafihgfl`igafYa[ghlmgk w_fqdaamgfahZ[mfY`_\]gh\gapfiYyfihgfeY__h_Z[gfWãm[d]dbhgpfigefihgfæYmhdaY]_dlhY]h_mgaf[`]ihbmgapfh[egft`uigeq_YiqghmfY`ufigafhaih_Z[ga ß`\qdamhagamfehZ[mgmgpfndf_ghmfTelghmgafiY_fêYqgaqeg`lfY]_fßãi\d]fig_fé]vZq_f`aifigefkeYumfÝgeg[emfn`eigf`aifihgf[hai`h_mh_Z[g kY_mgabg_g]]_Z[YumfhafiYaZ[gefêha_hZ[mfigafqeY`_gafcde_mg]]`abgafig_fQghZ[_uv[ege_fßßfgam_seYZ[kfVifâ`bgfigefYeh_Z[gafc^]qgenYaige`abgap ihgfÝdefÝhgemY`_gaiflY[egafY`_figafßmgssgafâgameY]Y_hga_fv\gefigafß`\qdamhagamf[gegha\eYZ[gapf[YmmgfigefkdamYqmfihmfghagef`abgnd[amgap medsh_Z[fn`Z[geaigafk`]m`epfihmfgìdmh_Z[gapfi`aqg][x`mhbgafTe\gÝ^]qge`abgafghagfghaiY]hbgfeY__h_Z[äeg]hbh^_gfñ\ge]Ybge`abf\gnheqmpfY`_fige YifwaigfèfY`ufihgfwsgafig_fWY[Yf\YeYm[Yf`aifig_fQYiYãYaYfbg_mvmlmfèfihgfadZ[f[g`mgfbv]mhbgfßdlhY]deia`abfig_fêhai`h_i`_ [geÝdebgbYabgafh_mkft]]g_fSg`bagafbgnh__gefßZ[^abgh_mgefdigef_Z[nxeigeh_Z[gefVaihgaäåYa_pfY]]gfcgengh_gfY`ufge_mY`a]hZ[g Wdigeah_hge`ab_geud]bgf`aifd\geu]xZ[]hZ[gftasY__`ab_egu]gìgfigefégbganYemfxaigeafahZ[m_fYafigefÜYm_YZ[gpfiYyfiY_fkY_mga_ã_mgifèfige v\geaYmve]hZ[gafreia`abfig_fU[YeiYfgam_segZ[gaifèfihgfeg]hbh^_gf`aif_dlhd]dbh_Z[gfjY_h__me`qm`efVaihga_fbg\]hg\gafh_mpfY`_figef_hZ[fqgha êhai`f]^_gafqYaakfwhagfeYuuhahgemgpf`age\hmm]hZ[gfêgee_Z[Yum_sãeYihigfnYef[hgefgam_mYaigapfihgf_hZ[fhaf]gmlmgeftaY]ã_gfY`ufeY__h_Z[g â`bg[^ehbqghmfl`evZquv[egaf]hgygk VZ[fnh]]f[hgefahZ[mfihgfihÝge_gafßZ[hZ[mgafèfjeY[iYagafdigefPehg_mgepfk_[YmehãYfdigefkehgbgepfcYh_[ãYfdigefêxai]gefY]_fqd]]gqmhÝg r\ge_Z[hZ[mpfiYaafihgfÝgeYZ[mgmgpfahgigegfUhga_m]gh_m`ab_be`ssgfigefß[`ieYpfgmnYfuvaulhbfPedlgamfY]]gefêhai`_pfdigefihgfÞTa\gev[e\Yegaáp ihgf`ab]vZq]hZ[gafPYehYfdigefUY]hm_fèfhafh[egaftmmeh\`mgaf\g_Z[egh\gapfl`iY]fihaig_mga_fieghmY`_gaifTamgefqY_mgafihg_g_fÝgenheegaigfWd_Yhq ÝgeÝd]]_mxaihbgakfjglghZ[agaifh_mfhiige[hapfiYyfigefjgbehuufÞkY_mgápfghagfsdem`bhg_h_Z[gfcdqY\g]pfihgf\ghf`a_fbg\ex`Z[]hZ[fh_mpfY`ufêhaihfihm igifXdemfÞcYeaYápfiY_f[ghymfåYe\gpf\glghZ[agmfnheikfßg]\_mfhaage[Y]\figefbgadeimgafégigha_Z[Yumgaf_shg]mfihgfêY`muYe\gfnghmge[hafghag nhZ[mhbgfQd]]gkfjghfigafjeY[iYagafl`ihaig_mfh_mfg_fv\]hZ[pfaYZ[figefég\`emfghag_fkhaig_fihgf\YabgfåeYbgfl`f_mg]]gaõfÞV_f[gfuYhefèfV_mfge [g]][x`mhbàá êghaehZ[fêhii]gefh_mfhaf_ghagefÝ^]qh_Z[gafjg_g__ga[ghmfÝdefqghagefSxZ[ge]hZ[qghmfl`evZqbg_Z[egZqmkfßdfn`eigfhiflY[efïoö÷fghagfbg[ghigfæßä wìsgihmhdafaYZ[fÜh\gmfbg_Z[hZqmpf`if\ghfigafidemhbgafjgebadiYigafaYZ[figifÞTeätehgeáfl`f_`Z[gakfUgefSghmgefihg_gef\hlYeegafWh__hdapfige \gnx[emgfPYemghbgad__gfwea_mfßZ[xugepfsedi`lhgemgfghagafUdq`igamYeuh]ifÞég[ghig_fÜh\gmápfigefihgfuehgi]hZ[gfæYm`efig_fSYiYh_i`_ hbadehgemgpf`ifihgft`uigeq_YiqghmfY`ufghafmxalgeh_Z[g_fQhm`Y]fl`fehZ[mgapfiY_fghagifÞkehgb_bdmmfihmf[^Z[_mgefkeYumpfêxemgf`aifâ`Z[máf[`]ihbmgk æYZ[f_ghagefQvZqqg[efn`eigfßZ[xugefihmfigifÜdmgaqdsuehabfigefßßf`aifigifw[egaigbgafig_fÞßZ[nYelgafreiga_áfY`_bglghZ[agmk w_fi`yfghaf_g]m_Yigefta\]hZqfbgng_gaf_ghapfY]_fihgfjgY`umeYbmgafigeft[agaude_Z[`abfèfigafr\geq^esgefbg\g`bmpfigaf\`ii[h_mh_Z[ga ég\gm__Z[Y]fhafêxaigapfghagafÜedsga[g]ifihmfßßäQ`agafY`ufigifkdsufèf_hZ[fhafS[Y_YfÝde_mg]]mgakfUhg_gfnh__ga_Z[Yum]hZ[fbgmYeamgfåYeZgfh_mfha cgebg__ga[ghmfbgeYmgapf`aifigafngahb_mgaf\]gh\mfihgfwehaage`abfYafihgfq]ghagfÜe`ssgfÝdafêhai`_fhafXg[eiYZ[m_`ahudeif`aifÜ`e\YapfihgfiY_ XYssga_Z[h]ifÞlYhfêhaiáfèfåeghg_fVaihgafèfY`ufigifReig]fme`bgaf`aif_hZ[fhigd]dbh_Z[fY`ufigafæg[e`äégbagefß`\[Y_fë[YaieYfjd_g Y`_ehZ[mgmgakfßmYmmfig__gafsh]bgemgfaYZ[figefæhgige]Ybgfig_fUehmmgafQghZ[_fghagfbYalfYaigegfkYmgbdehgfig`m_Z[gefßZ[nxeigef`aifWã_mhqgefYa iY_fTugefig_féYabg_pf`ifhafigafÞt_[eYi_áf\gmevbgeh_Z[gef[hai`h_mh_Z[gefé`e`_fwe]g`Z[m`abf`aifwe]^_`abfl`f_`Z[gak ég]gbgam]hZ[fh_mfigefcgeiYZ[mfbgx`ygemfndeigapfiYyfihgfiYbh_Z[gfåY_lhaYmhdafnhgfY`Z[fihgfæYZ[_hZ[mfbgbgav\gefigif`agemexb]hZ[ga kY_mga_ã_mgifigef[hai`h_mh_Z[gafég_g]]_Z[Yumpfihgf\ghf_dfiYaZ[gafUg`m_Z[gafYal`meguugaf_haipfY`ufghafhiYbhaxeg_ â`_Yiigabg[^ehbqghm_bguv[]fY]]geftehgefl`evZql`uv[egaf_ghkfwhag_fh_mf_hZ[geõfVafigefQhÝY]hmxmfigeféhbYamgafVaihgaf`aifë[haYpfihgfhaf`a_gega ÜYbgafY`_bgmeYbgafnheipfaghbmfihgf_sdamYagfßãisYm[hgfig_fXg_mga_figafÞng_ga_ÝgenYaimgaáfêhai`_fl`pfnx[egaifihgfcd]q_egs`\]hqfë[haYp igegaf^qdadih_Z[gf`aif_dlhY]gfwee`abga_Z[YumgafiY_fhaih_Z[gfÞXhem_Z[Yum_n`aigeáfnghmfv\geu]vbg]apfhafigafng_m]hZ[gafWgihgafghage
agbYmhÝgafPd]gihqfY`_bg_gmlmfh_mk ßg]\_mf\ghfigafë[hag_gapfihgfihmfcgen`aige`abfY`ufihgfg`edsxh_Z[gafågehgabx_mgf\]hZqgapfihgf_hZ[f_m`aiga]YabfigefseY]]gafßdaagfY`__gmlgap `ifihmfi^b]hZ[_mfhamga_hÝgefTe]Y`\_\ex`agfihgfêghiegh_gfYal`megmgapf_Z[ghamfhebgainhgfihgfcde_mg]]`abfl`fbg]mgaõfÞX[hmgfh_f\gY`mhu`]ákfUhg idemhbgafßZ[^agafbg[gafuev[g_mga_fYift\gaifYafigafßmeYaipf`ifígigfcgeuxe\`abfh[eg_fw]uga\ghamgham_fl`fÝgeighigakfXgefnheifYifwaig iguhahgegafq^aagapfngefl`figafXghygafdigefl`figafåYe\hbgaflx[]màfVifQvZq\]hZqfl`fgenx[agafh_mfÝdefY]]gifihgfY\_`eigftsYem[ghisd]hmhqpfihg PhbigamdqeYmhgfßviYuehqY_pfndfduuhlhg]]gft`__Z[v__gfYa[Yaifig_fwe_Z[gha`ab_\h]ig_fghagefPge_dafiYev\gefgam_Z[hgigapfd\fgefY]_fÞn[hmgáfdige Y]_fÞZd]d`egiáfegbh_mehgemfn`eigk Vafç`ø\gZfnhgige`if\hafhZ[fY`ufåeYaZdäkYaYihgefbg_mdygapfihgfnx[egaifh[egefih]hmxeh_Z[gafUhga_mlghmfèfngaaf_hgf_hZ[fY`ufueYal^_h_Z[ Y`_ievZqmgafèfÝdafh[egaf\ehmh_Z[gafruuhlhgegafbgevbmfn`eigaõfÞßsgYqfn[hmgáfèfßsehZ[fnhgfghafXghygepfiY_f[ghympf_sehZ[fwab]h_Z[kfVaftuehqY `amge_Z[ghigafihgfueYal^_h_Z[gafégdbeYs[gaf[g`mgfadZ[flnh_Z[gafÞ]ðtuehô`gf\]YaZ[gáfa^ei]hZ[f`aifÞ]ðtuehô`gfadhegáf_vi]hZ[figefßY[YeYkfTai adZ[fghagf]gmlmgfk`ehd_hmxmõfVafigefcde_mg]]`abfig_fi`eZ[_Z[ahmm]hZ[gafteY\ge_pfigef_ghagf_gihmh_Z[gafcgmmgeafY`_figef[g\exh_Z[gafwe\ud]bg t\eY[Yi_fdigefV\eY[hi_fY]_fYbbeg__hÝgfcde[`mfig_fYigehqYah_Z[gafVisgehY]h_i`_f_Z[ix[mf`aifèf_dnghmf_hgfigifânghbfigeft_Z[qgaYlhi Yabg[^egafèfY]_fkeg`llvb]gef`amgefigifUYÝhiäßmgeaf\gug[igmpfiveumgafnd[]fY`Z[fihgfl`igafigafÞXghygaáfl`l`deiagaf_ghak Xhefnd]]gaf`a_fahZ[mfhafßsgq`]Ymhdagafv\gefêY`m_Z[Ymmhge`abgaf`aifigegafsd]hmh_Z[gft`_nheq`abgafÝge]hgegaf`aifY`Z[fahZ[mfihgfw`edsxge Y]]ghafig_fQY__h_i`_f\glhZ[mhbgakfwhagfgìmegigfådeifgm[ah_Z[gefUh_qehihahge`abf[Y\gafnhef`a]xab_mfadZ[fhafQ`YaiYfge]g\mpfghagifÜgeehmdeh`i hifÞêgelgafigefåha_mgeah_ápfiY_fÝdefigifwe_mgafXg]mqehgbfjg_mYaimgh]fÝdafUg`m_Z[är_mYuehqYfnYekfUdemfgam]`if_hZ[fihgfÜdiughai_Z[Yumflnh_Z[ga igaf[dZ[bgnYZ[_gagapf[g]]gefbgm^amgafæh]dmgafÝdifcd]qfigefÜ`m_hf`aifigefgeievZqgaigafWg[elY[]figefq]ghagapfmhgu_Z[nYelgafjYam`äßmxiig igefê`m`pfihgfÝdafígagaf_ghmfWga_Z[gabgigaqgafnhgfSgh\ghbgagfdigefßq]YÝgafihy[Yaig]mfn`eigapfhafghagifbexy]hZ[gafégadlhik î Vaf_ghagefQgigfÝdefigafcgeghamgafæYmhdagafhifßgsmgi\gefmnnof[YmfjYeYZqfê`__ghafr\YiYfghagf\gigeqga_ngemgfkg[emngaigpfghag qYmgbdeh_Z[gfUh_mYalhge`abfÝdafigafêgbgidahY]Y]]vegaf_ghag_fcdebxabge_fégdebgfXkfj`_[fÝd]]ldbgapfihgfhafh[egefjgig`m`abfadZ[fahZ[mfbYal geqYaamfn`eigkfUgifTah]YmgeY]h_i`_figefYigehqYah_Z[gafåv[e`ab_iYZ[mf[Ymfgefgam_Ybmf`aifghabg_mYaigapfiYyfigafcgeghahbmgafßmYYmgafahZ[m ]xabgefihgfWhmmg]fl`efcgeuvb`abf_mvaigapfihgfXg]mfaYZ[fh[egafcde_mg]]`abgafY`_l`ehZ[mgakfÞUhgígahbgapfihgfuev[geftigehqYfuvef_ghag t]]ghabxabgfbgevbmf[Y\gapfq^aagafa`afahZ[mfghauYZ[fa`ef[ge`i_mg[gaf`aifiYeY`ufnYemgapfiYyfihgfTßtfihgfPed\]gigfigefXg]mfY]]ghaf]^_gaáp [Ymfgef_ghagfcge\vaigmgafgeiY[amkfÞXgaafnhefg[e]hZ[fl`f`a_f_g]\_mf_haipfiYaafiv__gafnhefl`bg\gapfiYyfnhef`a_gegefcgeYamndem`abfahZ[m ig[efbgegZ[mfngeigakáfUgefhafêYnYhhfbg\degagpfhafVaidag_hgafY`ubgnYZ[_gagfßd[afghag_fYuehqYah_Z[gafcYmge_fY`_fkgahYf`aifghage g`edsxh_Z[gafW`mmgefY`_fkYa_Y_fnYef_hZ[fÝhg]]ghZ[mfahZ[mfbYalf\gn`ympfiYyfgefihmfihg_gifwhabg_mxaiah_fihgfåYZqg]fnghmgebgeghZ[mpfiYyfgefihm igifcgelhZ[mfY`ufiY_fghbgagfWYZ[midadsd]fihgf\h_]Yabfgìq]`_hÝgfcdeeYab_mg]]`abfig_fnghygafWYaag_pfihgf_sxmg_mga_fïoùjfigafTßt l`bguY]]gafnYepfl`efUh_sd_hmhdaf_mg]]mgk Xghmfngahbgeft`u_g[gaf`aifsd]hmh_Z[g_fégnhZ[mfqdiimfghagifânh_Z[gauY]]fl`pfigef_hZ[fhafigefcde\geghm`ab_s[Y_gfigefåeYaqu`emge j`Z[ig__gfig_flY[eg_fmnnofl`me`bkft\gefihgf_ãi\d]h_Z[gfjgig`m`abfh_mf\gYZ[m]hZ[kft]_fihgfWg__g]ghm`abflnghfZ[hag_h_Z[gfUh__higamgafY]_ kedalg`bgafigefegseg__hÝgafShmgeYm`elga_`efigefcd]q_egs`\]hqfY`ue`ugaf`aif_hgfhafihg_gefcgeYa_mY]m`abfq`]m`eg]]gaft`_mY`_Z[g_fY]_fY]]gha b]Y`\[YumgfQgsex_gamYamgafig_fQghZ[_figefWhmmgfiYe_mg]]gafnd]]mgpfgamug__g]mgf_hgfigafâdeafig_fduuhlhg]]gafUg]gbYmhda_]ghmge_fWghfâ[YdedabkfUge g[giY]hbgfjdm_Z[Yumgefhafigefj`aig_egs`\]hqfh_mfghafb`mgefsge_^a]hZ[gefjgqYaamgefY`_fY]mgafÜYbgapfigafhZ[fígig_fWY]fqda_`]mhgegpfngaafhZ[ ihZ[fhafPgqhabfY`u[Y]mgkfwef[Ymmgf_hZ[fÝdaf_ghagefåeg`ai_Z[YumfuvefUg`m_Z[]YaifY`Z[fahZ[mfY\\ehabgaf]Y__gapfY]_fihgfv\]hZ[gafÜe`ss_fÝda XhZ[mhbm`geaf`aifÞjgmeduugagaáf_ghafjdm_Z[Yum_bg\x`igfhafjdaaf\g]Ybgemgaf`aifihgfmeYbh_Z[gafcdeux]]gfYifP]Ymlfig_fêhii]h_Z[gafåehgiga_ a`mlmgapf`if_hZ[f_g]\_mfhafiY_fShZ[mfigefúuugam]hZ[qghmfl`fevZqgak t]_fhZ[figafâdeag_Y`_\e`Z[fihg_g_fueg`ai]hZ[gapfY`ufêYeidahgf\giYZ[mgafUhs]diYmgafY`ufigifjh]i_Z[heifge]g\mgpfY]_fWghfâ[Ydedab s]^ml]hZ[fY]_f\g]ghihbmgefÞUeYZ[ga_d[aáfY`umeYmpfqYifihefigefégiYaqgfYafígagaf[dZ[meY\gaigaft`umehmmfXh][g]i_fVVkfhafjegige[YÝgaf`aif_ghag m^ehZ[mgfê`aagaegigkfUhgfUg`m_Z[gafmxmgafb`mfiYeYapf_hZ[fihg_gefqYh_ge]hZ[gafteedbYalfl`fgam_haagakfUhgfwenhige`abfWghfâ[Ydedab_flhmhgegfhZ[ Y`_figifégixZ[mah_kfwef_ghfihgfTaqgaamah_pfihgfTamge_mg]]`abgapfihgfcge]g`ii`abgafig`m_Z[gefWgihgaf]ghipf_df\g_Z[ngemgfgef_hZ[kfÞßd qdaamgafßhgfÝhg]]ghZ[mfhafuev[gegafâghmgafihmfë[haYf`i_sehabgakfßdf[Y\gafßhgf_hZ[fhafigefcgebYabga[ghmfY`ubguv[emkft\gef[g`mgf]Y__gafnhef`a_ ihg_gfjg]ghihb`abgaf`aifßZ[ix[`abgafahZ[mfig[efbguY]]gakfUhg_gfâghmgaf_haifÝde\ghûáfèfå`eZ[mfqYif\ghfihg_gefweq]xe`abfahZ[mfY`upfY\gefihg ch_hdafg`edsxh_Z[gefTal`]xab]hZ[qghmf`aifghagefl`mhgu_mfÝgexaigemgafXg]mk
CDEFGHIJKLMKJG
NOPQPRSNT
UGJFVWDXYHXMFZFMJH[MYDEW
\]M^LFHTDFH_GEH`MEMEaHbKMHãJäD^JVEWHåKMFMEa æKMHXDEWMHçD^JMaHSGEDFMHbVJè^Yè^JKFFMEé êëXFHbMJH[MXM^JFMHYKè^HDVè^HKEHìMí D^JVEWa îMJLKFFMXFHbGè^H_KMXHï KYYMEHbKMHãJäD^JVEWéð
ñVYHbMEH\òVYKDbMEðHóCDEFGHbMèKLGô _GEHòVõYHîDZHbMHCDLöMY
ãKEHPJ÷LLMJäMXbHíKJbHVEDå^ëEWKW æKXKaHKLHSëJZHøÖÖ× îGJHZíMKHOFVEbMEHKYFHbKMHØXMKEMHåJDYKXKDEKYè^MHSDYè^KEMH_GLHPÙIHãLåJDMJHKLHEGJbDVYFJDXKYè^MEHêDäMEHæDJíKEHWMYFDJFMFéHæKMHÚYFXKè^MHOVEbDQ REYMXHPKLGJaHbKMHVEFMJHbMJHPJDWäXëè^MHDVäFDVè^FaHKYFH_GEHFKMäMEHÛX÷äFMEHbVJè^ZGWMEaH_GEHFJGIKYè^MLHæKèØKè^FH÷åMJíVè^MJFéHãKEH_GJZ÷WXKè^MY UDJFKYDEMEWMXëEbMéHæKMHLDJFKDXKYè^MHìMVJFMKXVEWHMEFYIJKè^FHEKè^FHMFíDHbMJHÜíDEWY_GJYFMXXVEWaHbMJH\bÝäGJLDFKGEHIJGäMYYKGEEMXXMðHMKEMY WMDXFMJFMEHÛJKMWYØGJJMYIGEbMEFMEéHæKMYMHíKEZKWMHTMIVåXKØHPKLGJQòMYFMaHMKEMHREYMX^ëXäFMH_GEHbMEHñVYLDêMEHOè^XMYíKWQêGXYFMKEYHLKFHØEDII MKEMJHSKXXKGEHãKEíG^EMJEaHbKMHMJYFHDLHøÖéHSDKHøÖÖøHDXYHëìëéHSKFWXKMbHbMJHîMJMKEFMEH]DFKGEMEHDEMJØDEEFHíVJbMaHKYFHKEHbMEH_MJWDEWMEME çD^JZM^EFMEH_GEHMKEMJHWDEZMEHOMJKMHWJDVME^DäFMJHÛGEäXKØFMH^MKLWMYVè^FHíGJbMEéHOè^ëFZVEWYíMKYMHMKEHîKMJFMXHbMJHìM_ÚXØMJVEWHKYFHbDåMKHVLY òMåMEHWMØGLLMEé ñEHïDJEVEWMEH^DFFMHMYHEKè^FHWMäM^XFéHREHbKMYMLHäMJEMEHY÷bGYFDYKDFKYè^MEHíMFZMEHbMYH_MJäXGYYMEMEHIGJFVWKMYKYè^MEHÛGXGEKDXJMKè^MYH^MJJYè^M íMKFMJ^KEHSGJbHVEbHPGFYè^XDWaH^KMêHMYHKEHbMEHGääKZKMXXMEHSKFFMKXVEWMEéHPDFYëè^XKè^HYFM^FHbKMHêDVIFYFDbFHæKXKHVEFMJHñVYED^LMZVYFDEbéHìXDV^MXLM bMJHî]NH÷åMJíDè^MEHEëè^FMEYHbDYHñVYWDEWY_MJåGFéHïë^JMEbHbDYHíXVWZMVWHDVäHbMJHØVJZMEHTGXXåD^EHZVLHOFM^MEHØGLLFaHäëXXFHbMJHìXKèØHDVäHbKM WJDVHWMFÚEFMEHÛDLIä^VåYè^JDVåMJHbMJHDVYFJDXKYè^MEHOFJMKFØJëäFMaHbKMHVEíMKFHbMJHYè^EMMíMKêMEHêMXKØGIFMJHbMJHîMJMKEFMEH]DFKGEMEHWMIDJØFHYKEbé RLHåMYè^MKbMEMEHñåäMJFKWVEWYWMåëVbMaHbDYHLKFYDLFHMKEMJHØGLäGJFDåXMEHîRUQòGVEWMHEDè^HbMEHîMJí÷YFVEWMEHbMYHçD^JMYHøÖÖïHKEHDXXMJHãKXM íKMbMJ^MJWMJKè^FMFHíVJbMaHØGLLFH`MbGè^HØMKEH[Mä÷^XHDØVFMJHìMbJG^VEWHDVäé æDYHXKMWFH_GJHDXXMLHDEHbMJH[DYFXKè^ØMKFHbMYHbMVFYè^MEHPMDLYHbMJH\[MYMXXYè^DäFHä÷JHPMè^EKYè^MHÜVYDLLMEDJåMKFðaHbKMHKEHãJLDEWMXVEWHMKEMJ IMJLDEMEFMEHbKIXGLDFKYè^MEHîMJFJMFVEWHbMJHìVEbMYJMIVåXKØHKEHæKXKHbKMHbMVFYè^MHREFMJMYYME_MJFJMFVEWHLKFHãääKZKMEZHVEbHåMJVäXKè^ML ãEWDWMLMEFHíD^JEKLLFéHãYHKYFHEKè^FHbDYHMJYFMHSDXaHbDêHKè^HKEHMEFXMWMEMEHÛJKYMEZGEMEHbKMHìMFJMVVEWHbVJè^HbKMH[PÜHYè^ëFZMéHæDåMKHYFMXXFMHKè^ YFMFYHäMYFaHbDêHbKMYMHãðIMJFMEHbMYHïKMbMJDVäåDVYHDVäHLÚWXKè^YFHWJGêMEHñåYFDEbHZVHbMEHKLHòDEbHGIMJKMJMEbMEHOFJMKFØJëäFMEHGbMJ NØØVIDFKGEYFJVIIMEHåMbDè^FHYKEbéHæDYHWKXFHYGWDJHä÷JHbKMHìVEbMYíM^JHKEHñäW^DEKYFDEéHæKMH[PÜHZKM^FHMYH_GJaHG^EMHØGLIJGLKFFKMJMEbME ïDääMEYè^VFZHZVHDJåMKFMEéHREHNYFQPKLGJHØGLLFHbMLH_MJDEFíGJFXKè^MEHUJG`MØFXMKFMJaH[÷EFMJHÛG^XaHMKEHíMKFMJMJHîGJFMKXHZVWVFMéHOëLFXKè^M SKFDJåMKFMJH^DåMEHYKè^HKEHbMEHM^MLDXKWMEHIGJFVWKMYKYè^MEHìMYKFZVEWMEHñäJKØDYHGbMJHKEHìJDYKXKMEHDVäWM^DXFMEéHOKMHåM^MJJYè^MEHbKMHYKEWMEbMa XMKè^FHEëYMXEbMHOIJDè^MHòVYKFDEKMEYaHíKMHbKMHKåMJKYè^MHUJG_KEZHbMYHRLIMJKVLHTGLDEVLHVEFMJHñVWVYFVYHWMEDEEFHíVJbMéHæDYHUGJFVWKMYKYè^MHKYF DVäHPKLGJQòMYFMHEMåMEHbMJHLDXDÙGQIGXÙEMYKYè^MEHOIJDè^MHPMFVLHDXYHGääKZKMXXMHñLFYYIJDè^MHMFDåXKMJFHíGJbMEé ïë^JMEbHíKJHKLHØXKLDFKYKMJFMEHãLIäDEWYYDXGEHVEYMJHãJØVEbVEWYIJGWJDLLHä÷JHbKMHØGLLMEbMHïGè^MHåMYIJMè^MEaHåKMFMFHYKè^HIXÚFZXKè^HMKE ÷åMJJDYè^MEbMYaHKJWMEbíKMHWJGFMYØMYHOè^DVYIKMXéHãKEMHSKEKYFMJKEHbMJHTMWKMJVEWH_GEHNYFQPKLGJHñHbKMHÛDåKEMFFYLKFWXKMbMJHYKEbHZD^XJMKè^HVEb íMè^YMXEHYFëEbKWHñHKYFHLKFHMKEMLHOGEbMJ`MFHMKEWMFJGääMEHVEbHíDXXFHKLHîGXXWMä÷^XHK^JMJHìMbMVFVEWHDEHVEYH_GJåMKéHãKEMHWDEZMHTGFFMH_GE LVYØVXÚYMEHòMKåíëè^FMJEaHbDYHOè^EMXXäMVMJWMíM^JHKLHñEYè^XDWaHVLJKEWFHbKMHbVEØMX^ëVFKWMaHMVJGIëKYè^HWMØXMKbMFMHíJDVaHDXYHXëWMEHbKM ñFFMEFëFMJHYè^GEHåMJMKFé ]Gè^HåM_GJHbKMHVEMJFJëWXKè^MaHYè^í÷XMHSKFFDWY^KFZMHYKè^H÷åMJHbKMHìVè^FH_GEHæKXKHYMEØFaHVEFMJEM^LMEHíKJHMKEMHMJYFMHìMYKè^FKWVEWéHæKMYMJ îMJíDXFVEWYYKFZHíDJHíG^XHEKMLDXYHLKFH`MEMEHIJDè^F_GXXMEHVJåDEKYFKYè^MEHòMKYFVEWMEHZVH_MJWXMKè^MEaHbKMHbKMHUGJFVWKMYMEHKLHDEWGXDEKYè^ME òVDEbDaHKLHLGYDLåKØDEKYè^MEHòGVJMEòGHSDJóVMYH^KEFMJXKMêMEéHæGè^HíDYHíKJH`MFZFHMEFbMèØMEaHKYFHMKEHMKEZKWMYHPJ÷LLMJäMXbaHMKEHNJFHFGFDXMJ îMJí÷YFVEWéHSKFHñVYED^LMH_GEHMKEHIDDJHDVYXëEbKYè^MEHìGFYè^DäFMEHVEbHî]QîEFMJØ÷EäFMEaHbKMHñHZVHíMYFVEWMEHDVYWMåDVFHñHVEFMJHbMLHOè^VFZ DVYFJDXKYè^MJHíDXXYè^KJL`ëWMJHYFM^MEaHYKEbHYëLFXKè^MHìM^DVYVEWMEHVEbHñLFYWMåëVbMHMKEMLHNJØDEHbMJHîMJEKè^FVEWHDE^MKLWMäDXXMEéHOMKFHbMJ XMFZFMEHïGWMHbMYHØGXXMØFK_MEHñLGØXDVäYHKLHSDKHøÖÖïaHDXYHYKè^HbMJHYè^íMXMEbMHìDEbMEQVEbHì÷JWMJØJKMWHZVHMKEMLHLMEYè^XKè^HKEYZMEKMJFME \PYVEDLKðHYFMKWMJFMaHKYFHMYaHYGHíMKFHbDYHñVWMHJMKè^FaHMKEMHFJGYFXGYMHñEYDLLXVEWH_GEHTVKEMEé æKMHSMEYè^MEHXMåMEHKEHDJLYMXKWMEH]GF_MJYè^XëWMEHVEbHØÚEEMEHYKè^HWX÷èØXKè^HYè^ëFZMEaHíMEEHYKMHbGJFHOè^VFZH_GJHbMEHïDYYMJW÷YYMEHbMJ TMWMEZMKFHäKEbMEéH]Gè^HMJåëJLXKè^MJHYKEbHbKMHñEYDLLXVEWMEH_GEHOFJG^^÷FFMEHDLHOFDbFJDEbéHêGJbMEH_GEHíX÷è^FXKEWMEH^DåMEH^KMJHÜVäXVè^F WMYVè^FaHDXYHbDYHPÚFMEaHbKMHîMJWMíDXFKWVEWMEaHbKMHUX÷EbMJVEWMEHYKè^HDVè^HKEHbMEHæÚJäMJEHbMYHòDEbMYKEEMJMEHDVYFGåFMEé æKMHíJMVEbMH_GEHbMJH[PÜH^DåMEHMKEMHOØKZZMHZVJHêDEbaHMKEMEHOFDbFIXDEaHDVäHbMLHbKMHî]QOMèVJKFÙHbKMHVEYKè^MJMEHîKMJFMXHMKEWMZMKè^EMFH^DFé æDHYè^KMåMEHYKè^HbKMHYè^JDääKMJFMEH\^GFHZGEMYðHVEbHbKMHLKFHJGFMEHOFMJEMEHLDJØKMJFMEH\^GFHYIGFYðHñHUVEØFMHDØVFMJH[Mäë^JbVEWHbVJè^HØJKLKEMXXM [DEWYHVEbHVEØGEFJGXXKMJåDJMHTMåMXXMEHñHåKYHDEHbDYHæKIXGLDFME_KMJFMXHVEbHbKMHØDF^GXKYè^MHÛDF^MbJDXMH^MJDEaHbKMHíKMHbVJè^HMKEHïVEbMJHbMJ
ÜMJYFÚJVEWHMEFWKEWéHîE_MJYM^JFHåXKMåMEHMåMEäDXXYHbKMHYFDFFXKè^HWMLDVMJFMEH[JëåMJJMK^MEHbMYHíJKMb^GäYéHæGJFHíDJHbMJHMEFäMYYMXFMHSGåHbD_GJ ZVJ÷èØWMYè^JMèØFaHbKMHTDè^MWMKYFMJHbMJHPGFMEHZVHíMèØMEéHRLLMJ^KEHíVJbMHbMJHDXFMHIGJFVWKMYKYè^MH[GV_MJEMVJYIDXDYFaHbMJHLKFHLDYYK_ME íMKêMEHSDVMJEHVEbHMKEMLHíVè^FKWMEHOëVXMEIGJFDXHØGXGEKDXMH[JÚêMH_GJFëVYè^MEHYGXXFMaHDXYHîEFMJØVEäFHbK_MJYMJHìM^ÚJbMEHíKMbMJHJMYFDVJKMJFéHRE bKMYMLHîLäMXbHLVFMFHMYHFJÚYFXKè^HDEaHbDêHbKMH^G^MaHYè^EMMíMKêMHOFDFVMHbMJHçVEWäJDVHSDJKDaHbMJHRLLDèVXDFDaHVEDEWMFDYFMFHåXKMåé ãYHåMíMWMEHYKè^HíMEKWHSMEYè^MEHKEHbMEHÚbMEHOFJDêMEH_GEHæKXKéHçMbMHWMíMJåXKè^MHPëFKWØMKFHYè^MKEFHMJXGYè^MEéHïKJHYVè^MEHbMEHSDJØFIXDFZ DVäaHMKEMHMEbXGYMHñEYDLLXVEWHëJLXKè^MJHOFëEbMaHíGHMJYè^XDääFMHêëEbXMJH_MJWMåXKè^HEDè^HÛVEbMEHñVYYè^DVH^DXFMEéHOGH_MJäDVXFHbDY ôåMJDEWMåGFHIJëè^FKWMJHPJGIMEäJ÷è^FMHKEHbMJHOGEEMéHRè^H_MJíMKXMH_GJHbMJHñE^ëVäVEWH^DXåZMJäMFZFMJHPMðFKXKMEaHñVYYè^VêH`MEMJHLKXbFëFKWME OIMEbMEHDVYHãVJGIDaHbKMHDLH^KMYKWMEHìMYFKLLVEWYGJFHä÷JHMKEHIDDJHCMEFD_GYH_MJ^ÚØMJFHíMJbMEaHYGíMKFHYKMHEKè^FHYGWDJHbMEHDVYWMIGíMJFME PKLGJMYMEHZVHYè^ëåKWHMJYè^MKEMEé REHTMKYMä÷^JMJEHíKJbHbKMH^DEbíMJØXKè^MHìMWDåVEWHbMJHMKEWMåGJMEMEHíJDVMEHMJíë^EFaHbKMHDVäHK^JMEHïMåYF÷^XMEHEDè^H÷åMJXKMäMJFMEHSVYFMJE åVEFWMYFJMKäFMH\PDKYðHñHOè^DXYHGbMJHODJGEWYHñH^MJYFMXXMEéHRè^HØDEEHDEHbKMYMEHUJGbVØFMEHØMKEMEH[MäDXXMEHäKEbMEHVEbHMJäD^JMHZVHLMKEMJ îMJíVEbMJVEWaHbDêHYKMHKEHbMJHîGJYFMXXVEWHbMJHãKE^MKLKYè^MEH÷åMJHLDWKYè^MaH^MKbEKYè^MHÛJëäFMH_MJä÷WMEHYGXXMEéHæMJHØDF^GXKYè^MHÛXMJVYHbMJ ÛGXGEKDX^MJJMEH^DFHDEWMåXKè^HEGè^H_GJHä÷EäZKWHçD^JMEHÚääMEFXKè^MHîMJåJMEEVEWMEHbMYHYVYIMØFMEHPMVäMXYZMVWYHDEWMGJbEMFéHæMJ REóVKYKFKGEYåMWJKääH\ñVFGbDäÝðHYFDLLFHåMØDEEFXKè^HDVYHbMLHUGJFVWKMYKYè^MEé æKMHMF^EKYè^MHÜVYDLLMEYMFZVEWHbMJHìM_ÚXØMJVEWHWKåFHLDEè^MYHTëFYMXHDVäéHæKMHPÙIMEHYKEbHMðFJMLHVEFMJYè^KMbXKè^éHæVJè^HOè^ÚE^MKFHVEb [JDZKMHZMKè^EMEHYKè^HbKMHLMKYFMEHPKLGJMYMEHEKè^FHDVYéHæKMHíJDVMEaHbKMHVEYHLKFHäJMVEbXKè^MJHPJëW^MKFHåMWMWEMEaHMEFåM^JMEHbMJHåMFÚJMEbME TMKZMHbMJHIGXÙEMYKYè^MEHO÷bYMMQREYVXDEMJKEEMEaHbMEMEHMKEYFHbKMHSMVFMJMJH_GEHbMJH\ìGVEFÙðHMJXDWMEéHOGHLDEè^MYHDEHbKMYMLHOVEbDQêDäMEH_GE æKXKHMJKEEMJFHDEHbKMHLGJåKbMaHäDVXKWMHñFLGYI^ëJMaHbKMHçGYMI^HCGEJDbHKEHYMKEMLHNVFèDYFHGäHF^MHRYXDEbYHåMYè^JMKåFéHæGè^HbMEHMJGFKYè^MEHÜDVåMJa bMLHbMJH_MJØGLLMEMaHFJDVJKWMHêMXbHbMYHTGLDEYH_MJäëXXFaHí÷JbMHLDEHDVäHPKLGJH_MJWMåXKè^HYVè^MEéHæDbVJè^HMJØXëJFHYKè^H_KMXXMKè^FaHbDêHbK_MJYM î]NQìMYGXbMFMHVEbHLM^JHEGè^HbKMHíJMKåMVFMJHIYMVbGQ^VLDEKFëJMJH][NYHKEHbMJHMJYFMEHU^DYMHbMJHîEDå^ëEWKWØMKFHUJGYFKFVKMJFMHDVYHìDEWØGØ VEbHSDEKXDHMKEäXKMWMEHXKMêMEé æKMHîÚXØMJØVEbXMJH_MJíMKYMEHDVäHbMEHWMGWJDI^KYè^MEHîJZVYFDEbaHDXYHMKEMHòDEbåJ÷èØMHZíKYè^MEHO÷bGYFDYKMEHVEbHñVYFJDXKMEHbME DVYFJGEMYKYè^MEHSKWJDFKGEMEHMJXDVåFMaHåKYHEDè^HPDYLDEKMEH_GJZVbJKEWMEéHæMJHLMXDEMYKYè^MHTDYYMEMKEYè^XDWHKYFHDVäHPKLGJH_GJ^MJJYè^MEbHVEb _MJíMKYFHåMJMKFYHDVäHbKMH]Dè^åDJYè^DäFHbMJHUDIVDQOFëLLMH]MVWVKEMDYéHæDZVHØGLLMEHYFDJØMHLDXDKKYè^MHãKEäX÷YYMaHGåíG^XHbKMH^KEbVKYFKYè^Q åVbb^KYFKYè^MHêGè^ØVXFVJaHbKMHKLHbJMKZM^EFMEHVEbH_KMJZM^EFMEHçD^J^VEbMJFHDEHbMEHêÚäMEH_GEHçD_DHMJåX÷^FMaHbKMHÚYFXKè^MEHOVEbDQREYMXEHíXGJMY VEbHPKLGJHEKè^FHMJJMKè^FMé ñVè^HbKMHJDIKbMHRYXDLKYKMJVEWaHbMJHMYHbKMH^MVFKWMHTMIVåXKØHREbGEMYKMEH_MJbDEØFaHbMJHZD^XMEYFëJØYFMHOFDDFHbMJHîLLDHLKFHøøÖHSKXXKGEME ÛGJDEWXëVåKWMEHZVHYMKEaH^DFHbKMYMHDåWMXMWMEMEHãKXDEbMHEKè^FHMJäDêFéH]VJHMKEMHØXMKEMHñEZD^XHDJDåKYè^MJHOMMäD^JMJHíDJHDVYHçMLMEaHDVYHbMJ åKZDJJMEHïMXFHbMJHåKåXKYè^HíKJØMEbMEHêGè^^ëVYMJH_GEHêDbJDLDVFaHDVäWMåJGè^MEaHDVäHbMEHOIVJMEHbMYHXMWMEbëJMEHOKEbåDbHEDè^HO÷bGYFME WMYMWMXFHVEbH^DFFMHYKè^HåKYHEDè^HPKLGJH_MJKJJFéHêKEWMWMEHXMåFH^KMJHMKEMHYFDJØMHè^KEMYKYè^MHÛGXGEKMH_GEHêDØØDHDVYHbMJHUJG_KEZHÛíDEFVEWéHOKM íVJbMEHYMKEMJZMKFH_GEHMVJGIëKYè^MEHUXDEFDWMEåMYKFZMJEHDXYHÛVXKYHDEWM^MVMJFHVEbH^DåMEHMYHKEHæKXKHíKMHKLH÷åJKWMEHREYVXKEbMHåKEEMEHíMEKWMJ [MEMJDFKGEMEHZVHïG^XYFDEbHVEbHãKEäXVêHWMåJDè^Fé æKMHUGJFVWKMYMEHK^JMJYMKFYaHbKMHä÷Eä^VEbMJFHçD^JMHXDEWHbKMH^MVFKWMHTMIVåXKØHPKLGJQòMYFMHbGLKEKMJFMEaHXKMêMEHYKè^HDVäHbKMYMLHñVêMEIGYFMEHKE WMJKEWMJHÜD^XHEKMbMJéHñåMJHbKMHXVYKFDEKYè^MEHñåMEFMVJMJaHbKMH_GEHbMEHJDYYMåMíVêFMEHèDX_KEKYFKYè^MEHìVJMEHbMJHY÷bDäJKØDEKYè^MEHÛDIQÛGXGEKM DXYH\OMMØDääMJEðHWMYè^Lë^FHíVJbMEaH_MJLKYè^FMEHYKè^HKEFMEYK_HVEbHG^EMHîGJåM^DXFHLKFHbMEHãKEWMåGJMEMEHVEbH^KEFMJXKMêMEHMKEMHZD^XJMKè^M ]Dè^ØGLLMEYè^DäFéHREHñäJKØDH^KMêHMYõH\[GFFHYè^VäHbMEHïMKêMEHVEbHbMEHOè^íDJZMEaHbMEHSVXDFFMEHYè^VäHbMJHUGJFVWKMYMéðHñVäHPKLGJHØÚEEFM LDEHbDYHïGJFH\SVXDFFMðHbVJè^H\SMYFKòGðHMJYMFZMEé êMVFMHVEFMJYFM^FHbKMH`VEWMHTMIVåXKØHPKLGJQòMYFMHbMLHæMQäDèFGQUJGFMØFGJDFHbMJHîMJMKEFMEH]DFKGEMEHVEbHLM^JHEGè^HbMLH^MLbYëJLMXKWME ÜVWJKääHñVYFJDXKMEYéHñVäHbMEHMJYFMEHìXKèØHäëXXFHbKMHLKXKFëJKYè^MHUJëYMEZHbMJH\ñVYYKMYðaHbKMHDVäHbMLHêÚ^MIVEØFHbMJHîEDå^ëEWKWØMKFYíKJJMEHLKF ïÖÖÖHOGXbDFMEHIJëYMEFHíDJMEHVEbH^MVFMHEGè^H÷åMJHëöÖÖHSDEEH_MJä÷WMEaHEKè^FHYGEbMJXKè^HDVäéH]Dè^HbMEH`÷EWYFMEHbJDLDFKYè^MEHãJMKWEKYYMEa bKMHYKè^HbJMKHïGè^MEH_GJHLMKEMJHñEØVEäFHKEHæKXKHDåYIKMXFMEaHIDFJGVKXXKMJMEHK^JMH_GJZ÷WXKè^HDVYWMåKXbMFMEHCGLLDEbGYHEDè^HãKEåJVè^HbMJ æVEØMX^MKFHKLHæYè^VEWMXéHOKMHíMJbMEHåMKHK^JMEHãKEYëFZMEH_GEHêVåYè^JDVåMJEHLKFH]Dè^FYKè^FWMJëFMEHVEFMJYF÷FZFéHìMKHPDWMHFJMFMEHbKMH÷åJKWME ìXDV^MXLQÛGEFKEWMEFMHJMè^FHZVJ÷èØ^DXFMEbHKEHãJYè^MKEVEWéHæKMYMHSVYØGFMEHDVYHUDØKYFDEaHìDEWXDbMYè^aHÛMEKDHVEbHDEbMJMEHòëEbMJEHbMJHæJKFFME ïMXFaHbKMH_GEHK^JMEHTMWKMJVEWMEHDEHbKMHïMXFGJWDEKYDFKGEH_MJIDè^FMFHVEbH_GEHK^JMEHSDè^F^DåMJEHVLHbMEHWJÚêMJMEHPMKXHK^JMYHJMXDFK_H^G^ME ïM^JYGXbMYHåMFJGWMEHíMJbMEaHZMKè^EMEHYKè^HñHíKMH÷åXKè^HñHbVJè^HLDEWMXEbMHãKEYDFZåMJMKFYè^DäFHVEbHbVJè^HREØGLIMFMEZHDVYé æKMHVLäDEWJMKè^MHñØFKGEHbMJHî]NaHbKMHLKFHbMEH_MJíKJJMEbMEHñEDWJDLLMEHî]SROãPHVEbHî]PñãPHDVYWMYFDFFMFHKYFHñHXMFZFMJMYHYFM^FHä÷J \PJDEYKFKGEDXHñbLKEKYFJDFKGEHKEHãDYFQPKLGJðHñaHVEFMJHYFM^FHbMJHñVFGJKFëFHMKEMYHêG^MEHìMDVäFJDWFMEHDVYHìDEWXDbMYè^éHæDYHíKJØFHEKè^FHWMJDbM MJLVFKWMEbéHRLHíMYFDäJKØDEKYè^MEHOKMJJDHòMGEMaHíGHbKMHïMXFGJWDEKYDFKGEHYKè^HbVJè^HLKXKFëJKYè^MYHîMJYDWMEH^MJ_GJFDFaHKYFHbDYHïGJF \ìDEWXDbMYè^ðHåMKHbMEHbGJFKWMEHãKEWMåGJMEMEHZVLHOÙEGEÙLHä÷JHC^DGYHVEbHTDFXGYKWØMKFHWMíGJbMEé îGJDVYYKè^FXKè^HíKJbHbMJHãKEYDFZHbMJHî]NHKEHPKLGJQòMYFMHLKFHMKEMLHë^EXKè^MEHíKDYØGHMEbMEHíKMHbKMHLDYYK_MHREFMJ_MEFKGEHKLHØGEWGXMYKYè^ME êMðMEØMYYMXHbMJHäJ÷^MEHYMè^ZKWMJHçD^JMHGbMJHñHZíMKHæMØDbMEHYIëFMJHñHKLH\åMäJMKFMEðHÛDLåGbYè^DaHíGHYKMHKEHOFëJØMH_GEH÷ÖHÖÖÖHìMíDääEMFME EVJHZVYëFZXKè^MYHîE^MKXaHZVLDXHMKEMHLDYYK_MHîMJYMVè^VEWHbVJè^HñKbYHåMíKJØFMéHæMJHñEåXKèØHMKEMYHåMíDääEMFMEHñäJKØDEMJYHKEHæKXKaHbMYYME bVEØMXåXDVMHîEKäGJLHbKMHñVäYè^JKäFH\îWDEbDHUGXKèMðHFJëWFaHØÚEEFMHåKFFMJMHêMKFMJØMKFHDVYXÚYMEaHWMEKMêFHbGè^HbKMYMH_GLHbMVFYè^ME ìVEbMYIJëYKbMEFMEHWMJEHåMYVè^FMHVEbHDXYHæMLGØJDFKMHWMIJKMYMEMHGYFDäJKØDEKYè^MHTMIVåXKØHîWDEbDHVEFMJHK^JMLHOFDDFYè^MäHSVYM_MEKaHbKMHYKè^ bMJHUX÷EbMJVEWHbMJHTG^YFGääMHVEbHbMYHSDYYDØMJYHDEHÜK_KXKYFMEHKEHbMJHåMEDè^åDJFMEHÛGEWGQUJG_KEZHRFVJKHYè^VXbKWHLDè^FMaHMKEMEHåMYGEbMJY äKEYFMJMEHTVäéHæDêHZVbMLHíKXKIKEGYHåMJVäMEHíVJbMEaHbKMHFKLGJMYKYè^MHUGXKZMKHDVYZVåKXbMEaHLVFMFHíKMHMKEMHåÚYMHíDJèMHDEaHWKXFHbGè^HSDEKXDHDXY Oè^íMJIVEØFHGYFDYKDFKYè^MJHÛJKLKEDXKFëFHVEbHÛGJJVIFKGEé æKMHLMKYFMEHêKXäYbKMEYFMaHbKMHVEFMJHbMJHåXDVMEHíXDWWMHGIMJKMJMEaHYKEbHKEH_GXXMHæMèØVEWHWMWDEWMEaHDXYHYKMHäMYFYFMXXFMEaHbDêHPKLGJQòMYFMHDXXMY DEbMJMHDXYHMKEMHPJGIMEKbÙXXMHKYFéHæKMHî]NHKYFHDVè^H^KMJHLKFHbMJH÷åXKè^MEHíD^JZMVWQñJLDbDHMðFJMLHFMVJMJaHLKFHDXXMLHÛGLäGJFHDVYWMYFDFFMFMJ òDEbJG_MJHVEbH[MXëEbMíDWMEHZVWMWMEéHæKMHíMKêMEHòVðVYØDJGYYMEHñHMYHíVJbMEHLM^JHDXYHFDVYMEbHWMZë^XFHñHYFM^MEHVEWMEVFZFHDVäHYFJMEW åMíDè^FMEHUDJØIXëFZMEéHOGXXFMHíKJØXKè^HMKEHî]NQìMDVäFJDWFMJHbKMHÛ÷^E^MKFHDVäåJKEWMEaHKJWMEbMKEHUJG`MØFHKLHòDEbMYKEEMJEHIMJYÚEXKè^HZV KEYIKZKMJMEaHXëVäFHMJH[MäD^JaHbDêHYMKEMHïKEbYè^VFZYè^MKåMHbVJè^HOFMKEí÷JäMHí÷FMEbMJHãKE^MKLKYè^MJHZMJYè^LMFFMJFHíKJbé æKMHLMKYFMEH][NYaHbKMHíKMHbKMHêMVYè^JMèØMEH÷åMJHbKMHEMVHWMWJ÷EbMFMHTMIVåXKØH^MJWMäDXXMEHíDJMEaH^DåMEHYM^JHYè^EMXXHbMEHêMKLäXVW DEWMFJMFMEaHDXYHYKMHLMJØFMEaHbDêHDVäHPKLGJHWMXMWMEFXKè^HYè^DJäHWMYè^GYYMEHíKJbéHãKEMHbVåKGYMHbMVFYè^MHêKXäYGJWDEKYDFKGEH^DFFMHYKè^HbDbVJè^
^MJ_GJWMFDEaHbDêHYKMHbKMHOè^VXØKEbMJHLKFHCGèDQCGXDHVEbHC^KIYHåMWX÷èØFMéHSDEH^÷FMHYKè^H_GJHîMJDXXWMLMKEMJVEWMEéHSKJHKYFHYM^JHíG^XHåMíVêFa bDêHMKEMHåMDè^FXKè^MHÜD^XH_GEHKEFMJEDFKGEDXMEHêKXäYíMJØMEH_GJåKXbXKè^MHVEbHYMXåYFXGYMHñJåMKFHXMKYFMFéHSDEHbMEØMHEVJHDEHCDJKFDYaHìJGFHä÷JHbKM ïMXFaHøJZFMHG^EMH[JMEZMEaHbKMH\[J÷E^MXLMðHTVIMJFH]MVbMèØYaHDEHbKMHSDXFMYMJHVEbHLDEè^MHDEbMJMHLM^JéHæGè^HbKMHSDYYMHbMJH\]GEQ [G_MJELMEFDXHNJWDEKZDFKGEYðHñHKLHDäW^DEKYè^MEHÛDåVXHYKEbHYKMHKEHêVEbMJFYè^DäFMEHIJëYMEFHñHYFM^FHDXXZVHGäFHKLHæKMEYFMHVEbVJè^YKè^FKWMJ [MYè^ëäFMaHbMYHMðGFKYè^MEHTMKYMJVLLMXYaHMKEMJHMWGKYFKYè^MEHOMXåYFåMYFëFKWVEWHVEbHLM^JHEGè^HbMJH^VLDEKFëJHWMFDJEFMEHOIKGEDWMé ìMKLHñEäXVWHDVäHPKLGJHíDJHLKJHbDYHØEDXXJGFMHÜKMWMXbDè^HMKEMYHLGEVLMEFDXMEH[MåëVbMYHDVäWMäDXXMEaHbDYHDVYHbMJHDXXWMLMKEMEHPJKYFMYYM ^MJDVYJDWFMéHñVYHbMJH]ë^MHåMFJDè^FMFaHMJíMKYFHYKè^HbKMYMJHMðFJD_DWDEFMHUDXDYFHDXYHbDYHñVêMELKEKYFMJKVLHbMJHTMIVåXKØHPKLGJQòMYFMaHbDYH_GE ìDVFJVIIYHbMJHîGXØYJMIVåXKØHC^KEDHKEHTMØGJbZMKFHDVYHbMLHìGbMEHWMYFDLIäFHíVJbMHVEbHbDYHKEHØMKEMLHîMJ^ëXFEKYHZVHbMEHbKIXGLDFKYè^ME ìMb÷JäEKYYMEHbKMYMYHÜíMJWYFDDFMYHYFM^FéHOè^GEHYKEbHKEHVELKFFMXåDJMJH]Dè^åDJYè^DäFHbKMHJDYFXGYMEHñJåMKFMJHDVYHbMLHTMKè^HbMJHSKFFMHbDLKF åMYè^ëäFKWFaHbKMH[JVEbLDVMJEHbMYHîMJFMKbKWVEWYLKEKYFMJKVLYHVEbHMKEMJHIGLIÚYMEHUJëYKbMEFMEJMYKbMEZHZVHZMLMEFKMJMEéHæMJMEHîGXXMEbVEW íKJbHEKè^FHXDEWMHDVäHYKè^HíDJFMEHXDYYMEHVEbHbMEHXDEWäJKYFKWHIXDEMEbMEHJGFMEHSDEbDJKEMEH_GEHUMØKEWHñEYM^MEHVEbHñHíMJHíMKêHñHIGXKFKYè^MY [MíKè^FH_MJYè^DääMEé ù æKMHîEFMJØVEäFYLÚWXKè^ØMKFMEHDVäHPKLGJHíDJMEHLKJH_GJHbMJHñåJMKYMHKEHb÷YFMJYFMEHíDJåMEHWMYè^KXbMJFHíGJbMEéHRè^HWMbDè^FMHYè^GEHåMKHbME [MKYFXKè^MEHbMJHOFMÙXMJHSKYYKGEHGbMJHåMKHbMEHODXMYKDEMJEHVLHñYÙXHZVHMJYVè^MEéHãYHKYFHMKEMHäJMVbKWMHôåMJJDYè^VEWaHDXYHbKMHìMFJMVMJHbMJH[PÜHVEY KLHØGLäGJFDåMXHJMEG_KMJFMEHêGFMXHPKLGJHVEFMJåJKEWMEaHbMYYMEHØXKLDFKYKMJFMHÜKLLMJHLKFHíMJEYM^MJEHYDLFHãLIäDEWH_GEHC]]HVEbHììC DVYWMYFDFFMFHYKEbHVEbHDXXMEH^ÙWKMHEKYè^MEHñEYIJ÷è^MEHWME÷WMEéHREHbMJHWJGêMEHãKEWDEWY^DXXMaHíGHYKè^HJKMYKWMHîMEFKXDFGJMEHbJM^MEaHIXDVbMJFHMKE WMLKYè^FJDYYKWMYHUVåXKØVLH÷åMJíKMWMEbHDVäHUGJFVWKMYKYè^éHãYHYè^DääFHMKEMHKåMJKYè^HDELVFMEbMHñFLGYI^ëJMéHUXÚFZXKè^Hä÷^XMHKè^HLKè^HKEHMKEM XëEWYFH_MJäXGYYMEMHÛGXGEKDXMIGè^MHZVJ÷èØ_MJYMFZFaHbKMHKè^HñHLDEHLDWHYKè^HbDJ÷åMJHMLIÚJMEHñHKEH÷åMJíKMWMEbHIGYKFK_MJHãJKEEMJVEWHåM^DXFME ^DåMéH\ï^MEHF^MHWGKEWHíDYHWGGbðaHZKFKMJMHKè^HbMEHJMDØFKGEëJMEHåJKFKYè^MEHOè^JKäFYFMXXMJHã_MXÙEHïDVW^HVEbH_MJYI÷JMHMKEMEHêDVè^H_GE ]GYFDXWKMé æMJHãKEWDEWHbMYH\PKLGJðHíKJbH_GEHYè^íDJZHVEKäGJLKMJFMEHìMíDääEMFMEHØGEFJGXXKMJFaHØJëäFKWMH[MYFDXFMEHLMbKFMJJDEMEHPÙIYaHbKMHêMXLHVEb ØVWMXYKè^MJMHïMYFMHFJDWMEéHñEHbMEHDVYFJDXKYè^MEHNJbEVEWY^÷FMJEHWMLMYYMEaHíKJØMEHYKMHíKMHÛJKMWMJHMKEMYHDEbMJMEHÜMKFDXFMJYéHæDYHDXFM òVYKFDEKMEH^DFHMKEHIDDJH^VEbMJFHñEWM^ÚJKWMHbMJH\[VDJbDH]DèKGEDXHTMIVåXKèDEDðHKEHYMKEMHM^MLDXKWMHìMYKFZVEWHDLHãEbMHbMJHïMXFHMEFYDEbFa EKè^FHVLHYKEEXGYMHIGYFØGXGEKDXMHñEYIJ÷è^MHDEZVLMXbMEaHYGEbMJEHKEHbMJHêGääEVEWaHbVJè^HåMYè^MKbMEMHLKXKFëJKYè^MHUJëYMEZHZVLKEbMYFHMKEM OIVJHbMYHMKWMEMEHÛVXFVJMJåMYHZVHJMFFMEé SKJHKLIGEKMJMEHbKMYMHJMYGXVFHDVäFJMFMEbMEHOè^VFZMEWMXaHbKMHñHDEbMJYHDXYHbKMHSM^JZD^XHK^JMJHM^MJHYè^Lëè^FKWHWMíDè^YMEMEHòDEbYXMVFMHñH÷åMJ bKMHSVYØVXDFVJH_GEHìGbÙåVKXbMJEH_MJä÷WMEéHãYH^MKêFaHbDêHYKMHIYÙè^GXGWKYè^HYM^JH_KMXHåMYYMJHLKFHbMEHDVäYëYYKWMEHPKLGJMYMEHZVJMè^FØGLLME DXYHbKMHñVYFJDXKMJaHbKMHZíDJH_GJZ÷WXKè^HEDè^HåJKFKYè^MLHîGJåKXbHWMbJKXXFaHDåMJHGäFHbVJè^HbKMHDLMJKØDEKYè^MEHSMF^GbMEHbMJHPMJJGJåMØëLIäVEW EMWDFK_HåMMKEäXVêFHYKEbéHïë^JMEbHbKMH\ñVYYKMYðHWMWMEHTDEbDXKMJMJHVEbHUX÷EbMJMJHYM^JHYè^EMXXHZVLHOè^KMêMKYMEHWJMKäMEaHWM^MEHbKMHUGJFVWKMYME LKFHOè^XDWYFÚèØMEH_GJHVEbHMJZKMXMEHíMKFHåMYYMJMHUDZKäKZKMJVEWYJMYVXFDFMé ]MåMEHbMJHãXKFMFJVIIMHbMJH\[VDJbDH]DèKGEDXðHYKEbH_KMJ^VEbMJFHIGJFVWKMYKYè^MHOIJDè^XM^JMJHKEHæKXKHDEWMØGLLMEéHOKMH^DåMEHYKè^H÷åMJHbKM ÚYFXKè^MHREYMX^ëXäFMH_MJYFJMVFaHVLHbKMHOIJDè^MHbMYHæKè^FMJYHCDLöMYaHbKMHEVJHEGè^H_GEHZM^EHUJGZMEFHbMJHìM_ÚXØMJVEWHåMEVFZFHíKJbaH_GJHbMJ MEbW÷XFKWMEHîMJbJëEWVEWHbVJè^HbDYHãEWXKYè^MaHåMYYMJHWMYDWFHbVJè^HbDYHñLMJKØDEKYè^MaHZVHJMFFMEéHOKMHíMJbMEHbDåMKH_GEHMKEMJHDØFK_ME ãLåD`DbDHVEFMJYF÷FZFaHbMJHYKè^HDVè^HbKMHåJDYKXKDEKYè^MHìGFYè^DäFH_GEHæKXKHåJ÷bMJXKè^HZVWMYMXXFéHNåHbKMHòVYKFDEKMJHåMKLHXKEWVKYFKYè^ME ôåMJXMåMEYØDLIäHMJäGXWJMKè^MJHYMKEHíMJbMEHDXYHK^JMHYIDEKYè^MEHGbMJHäJDEZÚYKYè^MEHòMKbMEYWMEGYYMEHDVäHbMEHU^KXKIIKEMEHGbMJHKEHREbGè^KEDa bMJMEHØVXFVJMXXMJHãKEäXVêHbVJè^HbDYHMJHbJ÷èØMEbMHôåMJWMíKè^FHbMYH\ñLMJKèDEHíDÙHGäHXKäMðH_MJbJëEWFHíVJbMaHåXMKåFHbD^KEWMYFMXXFéHæME UGJFVWKMYMEHØGLLFHZVWVFMaHbDêHK^JHòDEbYLDEEHSDEVMXHìDJJGYGHDXYHîGJYKFZMEbMJHbMJHãVJGIëKYè^MEHÛGLLKYYKGEHYMKEMEHãKEäXVêHKEHìJ÷YYMXHZV K^JMEH[VEYFMEHWMXFMEbHLDè^MEHØDEEé æKMHGåMJMHãFDWMHbMYHZíMKYFÚèØKWMEHêGFMXYHíKJbHbVJè^HFKLGJMYKYè^MHUKYFGXMJGYHKEHÜK_KXHVEbHMKE^MKLKYè^MHUGXKZKYFMEHíKMHMKEHìDEØFJMYGJ WMYè^÷FZFéHREHVELKFFMXåDJMJH]Dè^åDJYè^DäFHLMKEMYHÜKLLMJYH^DFHYKè^HbMJHREFMJKLYQOFDDFYè^MäHíMJEDEbGHbMHñJDV`GHMKEóVDJFKMJFaHEDè^bMLH_GJ MKEMLHØEDIIMEHSGEDFHUJëYKbMEFHçGYÝHTDLGYQêGJFDH_GEHLM^JMJMEHÛVWMXEHKEHbMEHìJVYFØGJåHWMFJGääMEHíGJbMEHíDJéHæDYHêGFMXHPKLGJHLKFHYMKEME IGJFVWKMYKYè^MEHìMíDè^MJEHWKXFHíG^XHDXYHYKè^MJYFMYHTMäVWKVLHä÷JHbKMHVLHK^JHòMåMEHåMYGJWFMEHTMIJëYMEFDEFMEHbMYHOFDDFMYé
êGXXDEbHDXYH[JGêLDè^F ïë^JMEbHKè^HLKJHMKEMHOKMYFDHWÚEEMaHbKMHbVJè^HbMEHñEäXVWHDVYH]MVYMMXDEbaHbKMHØVJZMEHÜíKYè^MEYFDFKGEMEHKEHSMXåGVJEMHVEbHæDJíKEHYGíKMHbME ØJDYYMEHÛXKLDíMè^YMXHDEWMåJDè^FHMJYè^MKEFaHYFMXXMHKè^HLKJHbKMHíJDWMaHGåHLDEHMKEHbMVFYè^MYHòMYMJIVåXKØVLHä÷JHbDYHOè^KèØYDXHbKMYMJHäMJEME MðGFKYè^MEHREYMX^ëXäFMHKEFMJMYYKMJMEHØDEEéHÜVäëXXKWHíDJHKè^H_GJHLMKEMLHñVäåJVè^HDVYHãVJGIDHDVäHMKEMH]GFKZHbMYHÛGXXMWMEHTVbGXI^HC^KLMXXK WMYFGêMEaHbMJHLKJHYFMFYHDXYH_GJZ÷WXKè^MJHÛMEEMJHbMJHØGEäVYMEHSDè^F_MJ^ëXFEKYYMHbMJHRYXDLKYè^MEHTMIVåXKØHRJDEHDVäWMäDXXMEHíDJéHôåMJHbKMHSKYMJM bMYH^MVFKWMEHçGVJEDXKYLVYHåMäJDWFaH^DFFMHC^KLMXXKHWMDEFíGJFMFõH\æKMHDVYä÷^JXKè^MHìMJKè^FMJYFDFFVEWHØGLIXKZKMJFMJHODè^_MJ^DXFMHKYFHbML ]Dè^JKè^FMEØGEYVLMEFMEHLMKYFHEKè^FHZVZVLVFMEéð æMEHúVMJØGIäH]GDLHC^GLYØÙaHbMJHYKè^HóDXYHOIJDè^äGJYè^MJôHLKFHNYFQPKLGJHYè^GEHXDEWMHDVYMKEDEbMJWMYMFZFH^DFFMaHåM_GJHMYHZVLHP^MLD KEFMJEDFKGEDXMJHUGXKFKØHíVJbMaHäJDWFMHMKEYFHMKEMYHbMJHWJGêMEHîOQíMJEYM^EMFZMaHGåHMJHKEHMKEMJHSKEVFMHMJØXëJMEHØÚEEMaHíGJKEHbDYHUJGåXML åMYFM^MéH\]MKEaHbDYHØDEEHKè^HEKè^FðaHYDWFMHC^GLYØÙaHVEbHbMJHìMKFJDWHØDLHEKè^FHZVYFDEbMéHæMJHDLMJKØDEKYè^MHòKEWVKYFH^ëFFMHåKEEMEHYMè^ZKW OMØVEbMEHEKè^FHMKELDXHbKMHYMè^ZM^EHYFDJØHVEFMJYè^KMbXKè^MEHæKDXMØFMHDVäZë^XMEHØÚEEMEaHbKMHDVäHPKLGJQòMYFMHWMYIJGè^MEHíMJbMEaHWDEZHZV Yè^íMKWMEH_GEHbMJHOIDXFVEWHbMJHREYMX^ëXäFMHKEHMKEMEHíMYFXKè^MEHVEbHMKEMEHÚYFXKè^MEHPMKXaHMKEMHMF^EKYè^IGXKFKYè^MHæKääMJMEZKMJVEWaHbKMHKLLMJ íKMbMJHZVHÛGEäXKØFMEHä÷^JFé ñXXMEHìMbMEØMEHZVLHPJGFZHíMJbMHKè^HZVHMKEMJHWMJDääFMEHC^JGEKØHDVY^GXMEéHñVäHbKMYMJHØXMKEMEHOVEbDQREYMXHØDEEHLDEHEëLXKè^HíKMHKEHMKEML
SKØJGØGYLGYHMKEHDåMEFMVMJXKè^MYHÛDIKFMXHbMJHSMEYè^^MKFYWMYè^Kè^FMHVEFMJYVè^MEéHêKMJHXëêFHYKè^HDVäHMEWYFMLHTDVLHMKEHWJDEbKGYMYHUJG`MØFaHbKM LDêXGYMHêÙåJKYHVEbaHbDJDVäHäGXWMEbaHbMJHVE_MJLMKbXKè^MH]KMbMJWDEWHMKEMJHMVJGIëKYè^MEH]DFKGEHDEDXÙYKMJMEéHñEHbKMYMJHOFMXXMH_GXXZGWMEHYKè^ DVäHYIMØFDØVXëJMHïMKYMHKEHbMLHMðDØFMEHÜMKFJDVLHMKEMYH^DXåMEHçD^JFDVYMEbYHñVäFDØFHVEbHãJXÚYè^MEHMKEMYHKLIMJKDXMEHVEbHJGLDEFKYè^ME PJDVLYé SDEHYè^JKMåHbDYHçD^JHëöëøaHDXYHbMJHIGJFVWKMYKYè^MH]D_KWDFGJHñEFGEKGHbMHñåJMVHYMKEMEHíVêHDVäHbMEHOFJDEbH_GEHPKLGJHYMFZFMHVEbHbMEHMJYFME ÛGEFDØFHDVäED^LHZVHMKEMJHîJåM_ÚXØMJVEWaHbKMHYKè^HKLHÜVYFDEbHMEbXGYMJHOFDLLMYØJKMWMHåMäDEbaHDXYHÛGIä`ëWMJHåMJ÷è^FKWFHíDJaHLKFHbME Oè^ëbMXEHK^JMJHMJYè^XDWMEMEHíMKEbMHK^JMHê÷FFMEHYè^L÷èØFMHVEbHYGWDJHKLHîMJbDè^FHbMYHÛDEEKåDXKYLVYHYFDEbéHæKMHIGJFVWKMYKYè^MHãðIDEYKGEaHbKM DVäHbKMHWJDEbKGYMHîKYKGEHêMKEJKè^YHbMYHOMMäD^JMJYHZVJ÷èØWKEWaHYGXXFMHKEHPKLGJHK^JMH_GJWMYè^GåMEYFMHUGYKFKGEHDLHTDEbMHbMYHUDZKäKYè^MEHNZMDEY åMZKM^MEéHïMKFMHÛ÷YFMEYFJMKäMEHñäJKØDYH^DFFMEHbKMHòVYKFDEKMJHåMJMKFYHVEFMJíGJäMEaHDXYHîDYèGHbDH[DLDHbMEHOMMíMWHEDè^HREbKMEHMEFbMèØFMa íë^JMEbHZVLHWXMKè^MEHÜMKFIVEØFHC^JKYFGI^HÛGXVLåVYHKLHæKMEYFMHbMJHYIDEKYè^MEHÛJGEMHEGè^HKEHbMJHÛDJKåKØHVEbHDEHbMJHLKFFMXDLMJKØDEKYè^ME òDEbMEWMHEDè^HbMLHYDWMEVLíGåMEMEHTMKè^HbMJHSGWVXEaHbMJHSD^DJDbYè^DYHVEbHbMEHVEMJLMêXKè^MEH[GXbYè^ëFZMEHCKIDEWGYHYVè^FMé æMJH[MbDEØMHDEHbKMYMH^MJGKYè^MHîMJWDEWME^MKFaHbKMHLDEHbMLHØXMKEMEHÛ÷YFME_GXØHRåMJKMEYHWDJHEKè^FHZVWMFJDVFH^ëFFMaHLDWHíG^XHDVè^HbKM ^MVFKWMHTMWKMJVEWH_GEHòKYYDåGEHåMíGWMEH^DåMEaHbVJè^HbKMHãEFYMEbVEWH_GEH[MEbDJLMEHVEbHòM^JMJEHDEHbKMYMJHOFëFFMH_MJXGJMEMJH[JÚêMHEGè^ MKELDXHØVJZäJKYFKWHíXDWWMHZVHZMKWMEéHæKMHIGJFVWKMYKYè^MEHãEFbMèØMJH^DFFMEHMYHKLHYMè^ZM^EFMEHçD^J^VEbMJFHäMJFKWWMåJDè^FaHLKFHMKEMLHXëè^MJXKè^ ØXMKEMEHñVäWMåGFH_GEHSMEYè^MEHVEbHÛDJD_MXXMEHbKMHäDØFKYè^MHNåMJ^G^MKFH÷åMJHbMEHWDEZMEHREbKYè^MEHNZMDEHDEHYKè^HZVHJMKêMEéHæMJHêMJZGWH_GE ñXåVóVMJóVMaHbMJHYMKEMEH[GV_MJEMVJYYKFZHKLHKEbKYè^MEH[GDHDVYåDVFMaH^KMXFHbKMH_MJ^DêFMEHDJDåKYè^MEHSVYMXLDEMEHKEHOè^Dè^aHbKMHØVJZHZV_GJ DVYHYMKEMJHêMKLDFHDLHPM`GHDVäHK^JMHLDW^JMåKEKYè^MHñVYWDEWYåDYKYHZVJ÷èØWMíGJäMEHíGJbMEHíDJMEéH[MíDXFKWMHIGJFVWKMYKYè^MHíMYFVEWME ÷åMJJDWMEH^MVFMHEGè^HbMEHêDäMEH_GEHSGLåDYDHVEbHbKMHOFJDêMH_GEHêGJLVZHDLHñVYWDEWHbMYHUMJYKYè^MEH[GXäYaHbKMHEMVMJbKEWYHKLHÜMKè^MEHbMJ KJDEKYè^QDJDåKYè^MEHÛGEäJGEFDFKGEHíKMbMJHMLKEMEFMHYFJDFMWKYè^MHìMbMVFVEWHWMíGEEMEH^DFé ïMKFHKEHbMEHT÷èØMEHK^JMJH[MWEMJHñHåKYHDVäHbKMHREYMXHìD^JDKEHñH^DFFMEHbKMHòVYKFDEKMJHK^JMHìGXXíMJØMH_GJWMYè^GåMEaHåMLëè^FKWFMEHYKè^HCMÙXGEY VEbHbMJHêDXåKEYMXH_GEHSDXDèèDéHOKMHíDJMEHbKMHMJYFMEHãVJGIëMJaHbKMHYKè^H_GLHè^KEMYKYè^MEHÛDKYMJHMKEMEHäMYFMEHñEXMWMIXDFZHØGEZMbKMJMEHXKMêME VEbHbMEHØXMKEMEHíKYè^MJ^DäMEHSDèDGHZVJHæJM^Yè^MKåMHK^JMYHäMJEÚYFXKè^MEHêDEbMXYLGEGIGXYHDVYåDVFMEéHîGEHSDèDGHDVYHYFMXXFMEHYKMHJMWMXLëêKWM ÛGEFDØFMHZVLHDåWMØDIYMXFMEHREYMXJMKè^HCKIDEWGH^MJaHbDYHíKJH^MVFMHçDIDEHEMEEMEéHæKMHOMMäD^JMJHVEbHíJMKåMVFMJHåD^EFMEHYKè^HMKEMHTGVFMHåKYHKE bKMHäMJEYFMEHñVYXëVäMJH_GEHREYVXKEbMé REHãJLDEWMXVEWHbMJHVEWM^MVJMEH[GXbQHVEbHOKXåMJYè^ëFZMaHbKMHK^JMHYIDEKYè^MEHTK_DXMEHbMEHñZFMØMEHVEbHREØDYH_GEHSMðKØGHVEbHUMJV MEFJKYYMEaH_MJXMWFMEHYKè^HbKMHUGJFVWKMYMEHDVäHbMEHêDEbMXHLKFHbMEH_KMXäëXFKWMEaHØGYFåDJMEH[Mí÷JZMEHO÷bGYFDYKMEYéHæKMYMHíDJäMEHKLHbDLDXKWME ñåMEbXDEbHKLLMEYMH[MíKEEMHDåaHíVJbMEHbGè^HbKMHYè^íMJJMKè^MEHÛDVäXMVFMH_GEHñLYFMJbDLH\UäMääMJYëèØMðHWMEDEEFé REHbMJHDFXDEFKYè^MEHêMLKYI^ëJMHØDLHbMJHIGJFVWKMYKYè^MH]D_KWDFGJHUMbJGHCDåJDXHLKFHbMJHãEFbMèØVEWHVEbHMJYFMEHòDEbED^LMHKEHìJDYKXKMEHbME YIDEKYè^MEHÛGEØVJJMEFMEHZV_GJéHæKMH]KMbMJXDYYVEWMEHUGJFVWDXYHKLHTDVLH_GEHTMèKäMHYGXXFMEHWMíDXFKWMHÛGEYMóVMEZMEHEDè^HYKè^HZKM^MEéHæMEE íë^JMEbHbDYHSVFFMJXDEbHYMKEMHìMbMVFVEWHMKEå÷êFMHVEbHDVäHbMEHOFDFVYHMKEMYHÛXMKEYFDDFMYHDEHbMJHMVJGIëKYè^MEHUMJKI^MJKMHYè^JVLIäFMaHMEFäDXFMF YKè^HKEHVEYMJMEHPDWMEHbDYHKLLMEYMHPMJJKFGJKVLHìJDYKXKMEYHZVJHDLMJKØDEKYè^MEH[JGêLDè^FaHbKMHbDEØHK^JMYHíKJFYè^DäFXKè^MEaHLGJWMEHíG^XHDVè^ IGXKFKYè^MEHUGFMEFKDXYHbDYHXVYKFDEKYè^MHãJåMHDEHbKMH]Dè^íMXFHíMKFMJJMKè^FéHìJDYKXKMEH^DFHbKMHîDYDXXMEJGXXMaHbKMHïDY^KEWFGEHbMEHXDFMKEKYè^ME OFDDFMEHSKFFMXQHVEbHO÷bDLMJKØDYHKLHOKEEMHbMJHSGEJGMQæGØFJKEHYGHXDEWMHZVWMíKMYMEH^DFFMaHXëEWYFHDåWMYè^÷FFMXFéHñVäHYMXFYDLMHïMKYMHíKJØFH^KMJ bMJHOè^KMbYYIJVè^HbMYHìGJWKDQUDIYFMYHñXMðDEbMJHîRéHEDè^aHbMJHVLHbDYHçD^JHëöÖÖHbKMH]MVMEFbMèØVEWMEHDVäHbMLHWMYDLFMEHãJbåDXXHZVHMKEMJ êëXäFMHbMEHOIDEKMJEaHZVJHDEbMJMEHbMEHUGJFVWKMYMEHZVWMYIJGè^MEH^DFFMé æKMH[JDVYDLØMKFHVEbHbKMHêDåWKMJaHLKFHbMEMEHbKMHìMYKFZMJWJMKäVEWHbMJHKåMJKYè^MEHCGEóVKYFDbGJMEHVEbHDVè^HK^JMHè^JKYFXKè^MHSKYYKGEKMJVEW MKE^MJWKEWMEaHYGXXHEKè^FHåMYè^ÚEKWFHíMJbMEéHæKMHYIëFMJMEaH÷åMJíKMWMEbHDEWMXYëè^YKYè^MEHãJGåMJMJHñHbMEØMEHíKJHEVJHDEHbKMHñVYJGFFVEWHbMJ REbKDEMJH]GJbDLMJKØDYHñHYFDEbMEHbMLHï÷FMEHMKEMYHCGJFÝYaHbMJHêMJJYè^YVè^FHMKEMYHñXåVóVMJóVMaHbMJH[GXbWKMJHMKEMYHUKZDJJGH÷åJKWMEYHKEHØMKEMJ ïMKYMHEDè^é îLHLKè^HKEHbKMHåMWMKYFMJFMHñVäåJVè^YFKLLVEWH_GEHbDLDXYHZVH_MJYMFZMEaHVLHbDYHìMíVêFYMKEHMKEMYHZK_KXKYDFGJKYè^MEaH`DHWÚFFXKè^MEHñVäFJDWMY ZVJHîEFMJíMJäVEWHVEbHìMØM^JVEWHbMJHêMKbMEHEDè^ZVMLIäKEbMEaH^DFFMHKè^HEGè^H_GJHbMJHñåJMKYMHDVYHãVJGIDHbDYHVLäDEWJMKè^MHãIGYHbMY WJÚêFMEHIGJFVWKMYKYè^MEHæKè^FMJYHòVõYHbMHCDLöMYHZVJHêDEbHWMEGLLMEéHãKEMHXMKè^FMHòMØF÷JMHKYFHbDYHEKè^FéHñVYHbMLHìDXXDbMEåDEbH\NY òVYKDbGYðHYIJKè^FHMKEHWDEZHDEbMJMJHÜMKFWMKYFéHæDåMKHLVêHLDEHíKYYMEaHbDêHbKMYMJHDåMEFMVMJEbMHUGMFHñHEDè^bMLHMJHKLHÛDLIäHWMWMEHbKM SDJGØØDEMJHMKEHñVWMH_MJXGJMEH^DFFMHñHYMè^ZM^EHçD^JMHZVJHOMMHWMäD^JMEHíDJHDVäHbMEHOIVJMEHbMYHIGJFVWKMYKYè^MEH]DFKGEDX^MXbMEHîDYèGHbD [DLDaHbMEHMJH_MJ^MJJXKè^FMé CDLöMYHØDEEFMHbMEHREbKYè^MEHNZMDEH_GLHìDåQMXQSDEbMåHåKYHZVHbMEHSGXVØØMEéHæKMHòVYKDbMEaHYGH^MKêFHMYaH^DFHMJHDEHbMJHè^KEMYKYè^MEHÛ÷YFM _GEHSDèDGHEKMbMJWMYè^JKMåMEHVEbHYKè^HbDä÷JHKEHMKEMHDåWMXMWMEMH[JGFFMHíKMHKEHMKEMHãKEYKMbMXMKHZVJ÷èØWMZGWMEéHCDLöMYHäDEbHYMKEMHREYIKJDFKGE EKè^FHEVJHKEHbMJHè^JKYFXKè^QåKåXKYè^MEHôåMJXKMäMJVEWaHYGEbMJEHLM^JHEGè^HåMKHbMEHWJKMè^KYè^QXDFMKEKYè^MEHñVFGJMEHbMYH^MKbEKYè^MEHñXFMJFVLYéHãJ ^VXbKWFMHåMJMKFYHbMLH[MKYFHbMJHTMEDKYYDEèMaHíMEEHMJHYKè^HWDEZHVE_MJåX÷LFHåML÷^FMaHbKMHNbÙYYMMHbMYHêGLMJaHLM^JHEGè^HbKMHñMEMKYHbMY JÚLKYè^MEHæKè^FMJYHîMJWKXHDVäHbKMHMKWMEMHãIGè^MHZVH÷åMJFJDWMEé OMKEMHîMJYMHLÚWMEHä÷JHbMEH^MVFKWMEH[MYè^LDèØHVEMJFJëWXKè^HIDF^MFKYè^HØXKEWMEaHíMEEHMJHKLH\CDEFGHUJKLMKJGðHLKFHäGXWMEbMEHÜMKXMEHDE^MåFõ \æKMHØJKMWMJKYè^MEHØ÷^EMEHêMXbMEYè^DJMEHîGLHïMYFJDEbHòVYKFDEKMEYHDVYWMYDEbFaHæKMHDVäHbMEHSMMJMEHñHEKMHZV_GJHåMäD^JMEHñHOGWDJ IDYYKMJFMEHPDIJGåDEDYHûCMÙXGEYüHOFJDEbaHæKMHLM^JHMJIJGåFHKEHÛJKMWMEHVEbH[MäD^JMEaHñXYHLDEHbMJHSMEYè^MEHÛJDäFH^DFHZVMJØDEEFaHîEb VEFMJHäMJEMLHîGXØHMJJKè^FMFH^DåMEHãKEHEMVMYHTMKè^aHbMLHYGH_KMXH[XDEZHYKMHWDåMEéðHóREHbMJHôåMJYMFZVEWH_GEHêDEYHçGDè^KLHOè^DMääMJô ù æMJHäJDEZÚYKYè^MHñVäØXëJMJHîGXFDKJMH^DFHYKè^H÷åMJHbKMYMEH\IGýFMHD_MEFVJKMJðHLGØKMJFaHbMJHbKMH[ÚFFMJHbMYHNXÙLIHGbMJHbKMHXëYFMJXKè^MHîMEVYHKE MKEMLHñFMLZVWHLKFHbMJH`VEWäJëVXKè^MEH[GFFMYLVFFMJHSDJKDHMJíë^EFMéHæMJHbMVFYè^MHôåMJYMFZMJHíJKMbJKè^HOè^XMWMXH^KEWMWMEHYD^HKEHbME òVYKDbMEHMKEMEHñEYIGJEHä÷JHbKMHñVäåJVè^YFKLLVEWaHbKMHbKMHbMVFYè^MH]DFKGEHZVHìMWKEEHbMYHEMVEZM^EFMEHçD^J^VEbMJFYHMJWJKääaHMKEHDVäJ÷FFMXEbMY îGJåKXbHbMJH_GEHK^LHMJYM^EFMEHãJíMèØVEWH[MJLDEKMEYéHñXMðDEbMJH_GEHêVLåGXbFHíKMbMJVLHäDEbHä÷JHbMEHYè^JMKåMEbMEH]D_KWDFGJHCDLöMYHbME ñVYbJVèØH\OMMHLDXMJðé æKMHREYMXHPKLGJHíKJbHKLH\CDEFGHbMèKLGðHØVJZHMJíë^EFõH\ñVè^HPKLGJHbGJFaHíGHLDEHbDYHêGXZHWMíKEEFHbMYHODEbMXåDVLYaHbDYHbVäFMEb
^MKXYDLHíKJØFéHæDYHíMKFMHOVEbDHYè^DVþHÿðHÛVJZHEDè^HbMJHòDEbVEWHñEFGEKGHbMHñåJMVYHDVäHbMJHREYMXHPKLGJH_GXXåJDè^FMHYMKEHòDEbYLDEEHíMJE G bMHSDWDX^ MYaHbMJHVEFMJHbMLH]DLMEHíMJbKEDEbHbMHSDWMXXDEHKEHbKMHæKMEYFMHbMJHZD^XVEWYØJëäFKWMJMEHYIDEKYè^MEHSGEDJè^KMHWMFJMFMEHíDJaHbKM MJYFMHïMXFVLYMWXVEWé SMKEHîDFMJH^DFFMHLKè^HYè^GEHKLHÛEDåMEDXFMJHMJLVFKWFaH`DHDEHWMH^DXFMEaHbKMHìKGWJDI^KMEHbMJHØ÷^EYFMEHãEFbMèØMJHZVHXMYMEaH_GEHCGJFÝYaHbMJ SMðKØGHVEFMJíDJäaHåKYHOFDEXMÙaHbMJHbDYHäKEYFMJMHêMJZHñäJKØDYaHbDYHÛGEWGåMèØMEaHVEFMJHVE_GJYFMXXåDJMEHOFJDIDZMEHbVJè^óVMJFMéHÜVHbMJHòMØF÷JM WM^ÚJFMHDVè^HO_MEHêMbKEaHbMJHYKè^HKEHbKMHPDQØXDLDØDEQï÷YFMHÜMEFJDXDYKMEYHíDWFMéHñLHYFëJØYFMEHåMMKEbJVèØFMHLKè^HSDWMXXDEaHbMJHbVJè^HbKM ãEFbMèØVEWHbMJHEDè^HK^LHåMEDEEFMEHYè^LDXMEHSMMJMEWMHDEHbMJHëVêMJYFMEHO÷bYIKFZMHbMJH]MVMEHïMXFHbMEHÜVWDEWHZVLHUDZKäKØHÚääEMFMéHãJH^DF bMEHMEbW÷XFKWMEHìMíMKYHMJåJDè^FaHbDêHbKMHãJbMHMKEMHÛVWMXHKYFé æKMHMJYFMEHUGJFVWKMYMEH_MJ^DEbMXFMEHDVäHPKLGJHLKFHYGWMEDEEFMEH\ÛÚEKWMEðaHbMEMEHYKMH[Mí÷JZMHVEbHODEbMX^GXZHDåØDVäFMEaHG^EMH`MLDXYHbKM Û÷YFMEMåMEMHZVH_MJXDYYMEéHãYHíDJMEHIJKLKFK_MHOFDLLMY^ëVIFXKEWMaHbMJMEH[MäGXWYè^DäFHYKè^HKEHYKEEXGYMEHíM^bMEHMJYè^ÚIäFMéHãKEH^DXåMY çD^J^VEbMJFHEDè^HbMJHMJYFMEHãJØVEbVEWHbVJè^HñEFGEKGHbMHñåJMVHbJDEWHbKMHXVYKFDEKYè^MHUJëYMEZHKEYHREEMJMH_GEHPKLGJH_GJéHæKMHSÚEè^MHbMY ^MKXKWMEHæGLKEKØVYHWJ÷EbMFMEHK^JMHSKYYKGEMEHVEbHåML÷^FMEHYKè^aHbKMHLMXDEMYKYè^MEHêMKbMEHZVLH[XDVåMEHbMJHJÚLKYè^MEHÛKJè^MHZVHåMØM^JMEé OKMH^DFFMEHWVFMH[J÷EbMHbDä÷JéHæKMHNåMJ^G^MKFHbMJHòVYKFDEKMJH÷åMJHCMÙXGEaHSDXDèèDHVEbHbMEHSGXVØØMEQHñJè^KIMXHíVJbMHEëLXKè^HWDEZ VEMJíDJFMFHbVJè^HbKMHñEØVEäFHDEbMJMJHãVJGIëMJHMJYè^÷FFMJFHVEbHKEHíJDWMHWMYFMXXFé êGXXëEbKYè^MHêDEbMXYYè^KääMHbMJH\NGYFKEbKYè^MHCGLIDWEKMðHFDVè^FMEHLKFH÷åMJXMWMEMJHOè^KääYDJFKXXMJKMHDLHêGJKZGEFHDVäéHÛDVLH^DFFMEHbKM ]KMbMJXëEbMJHbKMHYIDEKYè^MHîEFMJ`Gè^VEWHbVJè^HbMEHêMJZGWH_GEHñXåDHKEHK^JMJHêMKLDFHDåWMYè^÷FFMXFaH^GXFMEHK^JMHÛDVäXMVFMHVEbHOMMäD^JMJHZV MKEMJHØGXGEKDXMEHVEbHLMJØDEFKXMEHãðIDEYKGEHYGEbMJWXMKè^MEHDVYaHbKMHLDEH_GEHbKMYMEH\ÛJëLMJEðHWDJHEKè^FHMJíDJFMFH^DFFMéHìKEEMEHMKEMY çD^J^VEbMJFYHWMXDEWHMYHbMLHîGXØHbMJH\[MVYMEðHñHìMFFXMJaHíKMHbKMHÛDYFKXKDEMJHYKMH_MJëè^FXKè^HEDEEFMEHñaHbKMHUGJFVWKMYMEHDVäHMKEHIDDJ ñVêMEIGYFMEHDåZVbJëEWMEaHbDJVEFMJHbKMHÚYFXKè^MHOVEbDQREYMXHPKLGJaHDVäHbMJHbKMHMJYFMEH^GXXëEbKYè^MEHÛDVäXMVFMHYè^GEHKLHçD^JHbMYHêMJJEHëöï× DEHòDEbHWKEWMEéHãYHWM^ÚJFHZVHbMEHDåYVJbMYFMEHÛDIKFMXEHbMJHMVJGIëKYè^MEHÛGXGEKDXWMYè^Kè^FMaHbDêHUGJFVWKMYMEHVEbH]KMbMJXëEbMJHYKè^ bJMK^VEbMJFHçD^JMHXDEWHVLHbMEHìMYKFZH_GEHMKEHIDDJHMEFXMWMEMEHVEbHñHDEHçD_DHGbMJHCMÙXGEHWMLMYYMEHñHb÷JäFKWMEHãKXDEbMEHåMØJKMWMEHYGXXFMEé òVõYHbMHCDLöMYH^DFFMHZVYëFZXKè^MEH[JVEbaHbDYHîGJbJKEWMEHbKMYMJHîYVJIDFGJMEHbMYHêDVYMYHNJDEKMEHZVH_MJäXVè^MEéHêGXXDEbHñHbDLDXYHEGè^ EGLKEMXXHìMYFDEbFMKXHbMYHêMKXKWMEHTÚLKYè^MEHTMKè^MYHæMVFYè^MJH]DFKGEHñH^DFFMHbMLHÛDF^GXKZKYLVYHbMJHOIDEKMJHJDbKØDXHbMEHT÷èØMEHWMØM^JFéHæMJ IJGFMYFDEFKYè^MHCDX_KEKYLVYHñHKEHbMEHñVWMEHbMJHUGJFVWKMYMEHbKMHYè^XKLLYFMHíGJLHbMJHÛMFZMJMKHñHíVJbMHGääKZKMXXMHOFDDFYJMXKWKGEHbKMYMYH`VEWME OFDDFYWMåKXbMYé ïKMH\WXGåDXðHYè^GEH_GJHMKEMLH^DXåMEHçD^JFDVYMEbHbKMHØGEäMYYKGEMXXMEH[MWMEYëFZMHDVYWMFJDWMEHíVJbMEHVEbHDVäMKEDEbMJIJDXXFMEaHMEFEM^LME íKJHMKEMJHOFJGI^MHbMYHOKMåFMEH[MYDEWYHbMJHòVYKDbMEéHæDH^MKêFHMYõ \R^JHYM^FHbMJHæMVFYè^MEH^Gè^L÷FKWMHêMJbMaHæKMHYKè^HDVäHíMKFäXëè^KWMLHíMXbHMJEë^JFaHæMEHEMVMEHêKJFMEHíë^XFHbMJHEMVMEHòM^JM ûWMLMKEFHYKEbHCDX_KEHVEbHòVF^MJü îEbHWMWMEHUMFJKHãJåMEHDVäåMWM^JFéHR^JHYM^FHåMXDbMEHYKMHLKFHÛJKMWYåMYè^íMJbMEaHæDHYKMHbMJHåXKEbMHïD^EHEGè^HEKè^FHåMXM^JFaH]Kè^FHVLHbME YFGXZMEHP÷JØMEHZVH_MJ`DWMEaH]MKEaHVLHbDYH^G^MHçGè^HûbMYHUDIYFMYüHEKè^FHLM^JHZVHFJDWMEéð æMJHWJMKYMHCDLöMYaHbMJH_GEHMKEMJHØ÷LLMJXKè^MEHTMEFMHYMKEMYHÛÚEKWYHMKEHFJDVJKWMYHæDYMKEHäJKYFMFMaHíVJbMHEGè^H_MJZíMKäMXFMJHÜMVWMHbMY ]KMbMJWDEWYHYMKEMYHîDFMJXDEbMYéHãYHØXKEWFHYMXFYDLHLGbMJEaHíMEEHMJHDLHãEbMHbKMHêDåWKMJHVEbHîMJbMJåF^MKFHYMKEMJHòDEbYXMVFMaHbKMHbMJHOVè^F EDè^HTV^LHVEbHTMKè^FVLHMJXMWMEHíDJMEaHä÷JHbDYHOè^MKFMJEHbMYHIGJFVWKMYKYè^MEHRLIMJKVLYH_MJDEFíGJFXKè^HLDè^FéHãJHYè^XKMêFHYKè^HbDLKFHbMJ îMJbDLLVEWHbMJH\D_DJKFKDðHDEaHbMJHí÷FMEbMEHÛJKFKØHDEHbMJHêDåYVè^FaHDEHbMJHZVEM^LMEbMEHWMYMXXYè^DäFXKè^MEHñVYJKè^FVEWHDVäHUJGäKFHVEb [MXbíKJFYè^DäFaHbKMHYMKEMJHè^JKYFXKè^MEH[JVEb^DXFVEWHZVFKMäYFHíKbMJYIJDè^HVEbH_GEHZD^XJMKè^MEHSGJDXKYFMEHVEbHòKFMJDFMEHYMKEMJHãIGè^MHWMFMKXF íVJbMéHOè^GEHbDLDXYHWDåHMYHKbMGXGWKYè^MH[MWEMJHMKEMYHíMXFVLYIDEEMEbMEH[X÷èØYJKFFMJFVLYaHbDYHVEYHYMXFYDLH_MJFJDVFH_GJØGLLFéHæKM PJDWÚbKMHbMYHæKè^FMJYHCDLöMYHWKIäMXFMHKEHbMJHñEEMðKGEHUGJFVWDXYHbVJè^HbMEHYIDEKYè^MEHÛÚEKWHU^KXKIIHRRéaHbKMHKLHçD^JHëö×ÖaHKLHçD^JHYMKEMY PGbMYaHYFDFFäDEbHVEbHäDYFHMKEHçD^J^VEbMJFHDEbDVMJEHYGXXFMé Rè^HíKXXHbKMHñEDXGWKMEHEKè^FHMðZMYYK_HåML÷^MEaHDåMJHDEHbKMYMJHOFMXXMHYGXXFMHMKEMJHbMJHåMbMVFMEbYFMEHãðMWMFMEHbMYHCDLöMYQïMJØYaHbMJ æMVFYè^MHTDäDMXHñJEGXbaHZVHïGJFHØGLLMEõ \REZíKYè^MEHYKEbHbKMHãEFbMèØVEWMEHKEHDEbMJMHTKè^FVEWMEHWMXMEØFéHñVYHbMLHWMGWJDI^KYè^MEHTDVLHKEHbMEHïMXFMEJDVLHGbMJHKEHbME SKØJGØGYLGYHDFGLDJMJHÛXMKEYFFMKXMéHæDEMåMEHMEFbMèØMEHíKJH^MVFMHñHbMEHìXKèØHDVäHbMEHìKXbYè^KJLHWM^MäFMFHñHDLHCGLIVFMJHVEWMD^EFMH_KJFVMXXM ïMXFMEéHæMJHïGJFYè^DFZHbMJHãEFbMèØVEWMEH_MJbDEØFHbDåMKHåKYH^MVFMHbMJHEDVFKYè^MEHíDè^YIJDè^MHYM^JH_KMXéHñYFJGEDVFMEHåMJMKYMEHWDEZ YMXåYF_MJYFëEbXKè^HKEHTDVLYè^KääMEHbDYHïMXFDXXéHãðIXGJMJH^MXäMEHåMKHbMJHNJKMEFKMJVEWHKLHMXMØFJGEKYè^MEHREäGJLDFKGEYYIMKè^MJaHVEbHVEFMJYF÷FZF _GEHMKEMLH]D_KWDFGJHMJØVEbMEHíKJHbKMHEG_GYHLVEbGYH_KJFVMXXMJHïKJØXKè^ØMKFaHíMEEHíKJHbVJè^YHREFMJEMFHYVJäMEéH]D_MWDJHEDHKEFMJEMF EMEEMEHbDYHbKMHUGJFVWKMYMEaH_GEHbMEMEHCDLöMYHMKEYFHYFGXZHYDWMEHØGEEFMõHæMJHïMXFHíMJbMEHYKMHEMVMHïMXFMEHåJKEWMEéHóRRaHöôð ù RLHT÷èØåXKèØHMJYè^MKEFHbMJHMEbXGYHYè^íMXMEbMHÛGEäXKØFHZíKYè^MEHUGJFVWKMYMEHVEbHêGXXëEbMJEHñHXMFZFMJMH^DFFMEH_GJ÷åMJWM^MEbaHDåMJHG^EM åXMKåMEbMEHãJäGXWHDVè^HKEH]GJbGYFQìJDYKXKMEHíVêHWMäDêFHñHDXYH^KYFGJKYè^MJHñåMJíKFZaHDXYHMðFJD_DWDEFMYHîGJWMIXëEØMXH`MEMJHMVJGIëKYè^ME OMXåYFZMJäXMKYè^VEWaHDEHbMJMEHãEbMHbKMHb÷YFMJMHîGJD^EVEWHbMYH\îEFMJWDEWYHbMYHñåMEbXDEbMYðHYFM^FéHæKMHLMJØDEFKXMHêDJFEëèØKWØMKFHbMJ NYFKEbKYè^MEHêDEbMXYWMYMXXYè^DäFaHbKMHëćììHbMJHYFDDFXKè^MEHñVFGJKFëFHbMJHEKMbMJXëEbKYè^MEHTMWKMJVEWHVEFMJYFMXXFHíVJbMaH^DFHMYHbMLHêDVY NJDEKMEHKLLMJ^KEHMJXDVåFaHMKEMHJKMYKWMHØGXGEKDXMHæGLëEMHZíKYè^MEHbMJH]GJbYIKFZMHOVLDFJDYHVEbHbMJHïMYF^ëXäFMH]MVWVKEMDYHMðFJML WMíKEEåJKEWMEbHDVYZVåMVFMEaHíë^JMEbHUGJFVWDXaHbDYHYKè^HKEHñYKMEHXMbKWXKè^HKEHíKEZKWMEHæMIMEbDEèMEHåM^DVIFMFMaHYKè^HåKYHëìćHG^EMHWJGêME UJGäKFHDEHYMKEMHíMKFäXëè^KWMEHDäJKØDEKYè^MEHìMYKFZVEWMEHØXDLLMJFMé æDYHìMKYIKMXHbKMYMJHMVJGIëKYè^MEHÛXMKEYFDDFMEaHKEHbMJMEHîEFMJåMíVêFYMKEHbKMHãJKEEMJVEWHKLIMJKDXMEHUJMYFKWMYHEKè^FHMJXGYè^MEHKYFaHKXXVYFJKMJF bKMHIJGäVEbMEHIYÙè^GXGWKYè^MEHîGJåM^DXFMaHbKMHYKè^HbMJH^MVFMHDEWMYFJMåFMEHãKEKWVEWHbMYHÛGEFKEMEFYHMEFWMWMEYFMLLMEéH]Kè^FHEVJHêGXXDEbHVEb UGJFVWDXH^DFFMEHYKè^H_GJ÷åMJWM^MEbHDXYH[JGêLëè^FMHWMåëJbMFéH]MåMEHìJKFMEaHOIDEKMJEaHíJDEZGYMEHVEbHæMVFYè^MEaHbKMHVEFMJHìMJVäVEWHDVäHbKM ZK_KXKYDFGJKYè^MHSKYYKGEHbMJHãVJGIëMJHbKMH\ì÷JbMHbMYHíMKêMEHSDEEMYðHYè^VXFMJFMEHVEbHbMLHTDVYè^HYè^JDEØMEXGYMJHæGLKEDEZHMJXDWMEaHØÚEEFME `DHDVè^HbKMHUGXMEHbDJDVäHIGè^MEaHbDêHYKMHDVäHbMLHêÚ^MIVEØFHK^JMJH[MYè^Kè^FMHSGYØDVHåMYMFZFHVEbHMKEMEHUYMVbGQÜDJMEH_GEHÛJDØDVYH[EDbME
KLHÛJMLXHKEYFDXXKMJFMEéHîGJHbMEHYè^íMbKYè^MEHêMMJMEH[VYFD_HñbGXäYHVEbHLM^JHEGè^HÛDJXYHĈRRéHZKFFMJFMEHbKMHí÷JYFME^ëVYMJHbMYHÛGEFKEMEFYé OGWDJHbDYH[JGê^MJZGWFVLHòKFDVMEHMJYFJMèØFMHYKè^HZMKFíMKYMH_GLHìDXFKØVLHåKYHZVLHOè^íDJZMEHSMMJé æKMHæGWMEQTMIVåXKØHîMEMbKWHØGEEFMHYKè^HåKYHZVJHãEFbMèØVEWHñLMJKØDYHDXYHVEMEFåM^JXKè^MHOMMQHVEbHêDEbMXYLDè^FHbMYHSKFFMXLMMJY DVää÷^JMEaHVEbHbKMHWMä÷Jè^FMFMEHÛJKMWY^DVäMEHbMJHOè^íMKZMJHTMKYXëVäMJHMEFYè^KMbMEHDVäHbMEHOè^XDè^FäMXbMJEH]GJbKFDXKMEYaHìVJWVEbYHVEb òGF^JKEWMEYH÷åMJHbMEHìMYFDEbHbMJHJK_DXKYKMJMEbMEHæÙEDYFKMEHbMYHñåMEbXDEbMYéHREHbMJH]Dè^äGXWMHÛDKYMJHÛDJXYHîéaH\÷åMJHbMYYMEHTMKè^HbKMHOGEEM EKMHVEFMJWKEWðaH_MJYFKMWHYKè^HbDYHêDVYHêDåYåVJWHZVHbMJHæM_KYMHñéHãéHRéHNéHîéõH\ñVYFJKDMHMYFHKLIMJDJMHGJåKHVEK_MJYGðHóMYHKYFHĉYFMJJMKè^ åMYFKLLFaHbKMHïMXFHZVHåM^MJJYè^MEôHñHGbMJHDVè^õH\ñXXMYHãJbJMKè^HKYFHĉYFMJJMKè^HVEFMJFDEðé ïMJH^MVFMHDEHbMEHZë^äX÷YYKWMEHúVMJMXMEHbMJHãVJGØJDFMEH_GEHìJ÷YYMXaHDLHäJVYFJKMJMEbMEHêKEbMJEKYXDVäHbMJHØGEFKEMEFDXMEHãKEKWVEWaHDEHbMJ _GEHïDY^KEWFGEHWMYè^÷JFMEHæK_MJWMEZHZíKYè^MEH\NXbHDEbH]MíHãVJGIMðH_MJZíMKäMXFaHYGXXFMHEMåMEHbMEHIGLIÚYMEHOè^JKäFMEHbMYHìDJbMEHCDLöMY DVè^HbKMHMðDXFKMJFMEHIDFJKGFKYè^MEHñVäJVäMaHbKMHEDFKGEDXKYFKYè^MEHêDêIJMbKWFMEHbMYHEMVEZM^EFMEHVEbHZíDEZKWYFMEHçD^J^VEbMJFYHZVJHêDEb EM^LMEaHbKMHbKMHLDè^FIGXKFKYè^MHñåbDEØVEWHbMYHNØZKbMEFYHåMWXMKFMFMEé
\PJKYFMYHPJGIKóVMYð ñFDVJGaHKLHSëJZHøÖÖ× ñEHìGJbHbMJHíë^JMH\]DØJGLDðH_MJYVè^MHKè^H_MJWMåXKè^aHLKè^HKEHbKMHØ÷^EMHòDVEMHbMJHXVYKFDEKYè^MEHïMXFMEFbMèØMJHZVH_MJYMFZMEéHïKJ VEFMJEM^LMEH`DHEVJHMKEMEHØVJZMEaHJKYKØGXGYMEHñVYäXVWaHVEbHbKMH\]DØJGLDðHKYFHMKEHLGbMJEMYaHØGLäGJFDåXMYHOè^KääéHîEYMJHÜKMXHKYFHbDYHãKXDEb ñFDVJGaHbDYHNYFQPKLGJHKEHbJMKêKWHÛKXGLMFMJEHæKYFDEZHEÚJbXKè^H_GJWMXDWMJFHKYFéHæKMHôåMJäD^JFHbDVMJFHØEDIIHZíMKMKE^DXåHOFVEbMEéHïKJHWXMKFME ÷åMJHbKMHYIKMWMXWXDFFMaHFKMäåXDVMHïDYYMJäXëè^MHbMJHïMFDJHOFJDKFéH]VJHMKEHTVbMXHæMXI^KEMHåKMFMFHñåíMè^YXVEWéHïKè^FKWMJHDXYHbKMHíÚè^MEFXKè^M îMJåKEbVEWHæKXKYHLKFHñFDVJGHKYFHbMJHJMWMXLëêKWMHUMEbMX_MJØM^JHbMJHíë^JMHLKFHbMJHãðØXD_MHNMèVYYKaHbKMHYKè^HKEHbMJHïMYF^ëXäFMHPKLGJYHåMäKEbMF VEbHJKEWYVLH_GEHKEbGEMYKYè^MLHOFDDFYWMåKMFHVLYè^XGYYMEHKYFé æMJHòDEbZVWDEWHKYFHbVJè^HLKYMJDåXMHOFJDêMEHVEbHÜGXXYè^KØDEMEHMJYè^íMJFéHæKMYMHíKbMJYKEEKWMH[JMEZZKM^VEWHWM^FHDVäHMKEMEHîMJFJDWHDVYHbML çD^JHë×öìHZVJ÷èØaHbMJHbMLHWJGFMYØMEHPMJJKFGJKDXYFJMKFHZíKYè^MEHòKYYDåGEHVEbHæMEHêDDWHMKEHãEbMHYMFZFMéHñVäHbKMHìMKåM^DXFVEWHbMJHíKEZKWME ñVêMEIGYKFKGEHNMèVYYKH^DFFMHUGJFVWDXHåMYGEbMJMEHïMJFHWMXMWFaHíMKXHbGJFHbKMHæGLKEKØDEMJHK^JMHMJYFMH]KMbMJXDYYVEWHDVYWMåDVFH^DFFMEé æMJH]DLMH\]DØJGLDðHåMbMVFMFHYG_KMXHíKMHSGJWMEbëLLMJVEWHGbMJHñVäØXëJVEWaHíKJbHLKJHMJØXëJFéHãYH^DEbMXFHYKè^HVLHMKEH[MYè^MEØHbMJ ìVEbMYJMIVåXKØéHæMJHOè^KääYåDVHäDEbHKEHREbGEMYKMEHVEFMJHYFJKØFMJHôåMJíDè^VEWHbMJH[PÜHYFDFFaHbKMHDVè^HíMKFMJ^KEHbKMYMYHE÷FZXKè^MHUJG`MØF åMFJMVFéHæMJHOFMVMJLDEEHVEbHbKMHìMYDFZVEWHYKEbHDVYYè^XKMêXKè^HSDXDKMEHDVYHçD_DaHbKMHYKè^H_GEHDXFMJYH^MJHDVäH]D_KWDFKGEHVEbHDVè^HDVäHUKJDFMJKM _MJYFM^MEaHíë^JMEbHbKMH÷åMJíKMWMEbHLMXDEMYKYè^MEHPKLGJMYMEHä÷JHbDYHGääMEMHSMMJHEKè^FHFDVWMEéHSDEHäJDWFHYKè^aHíKMHbKMHîGJäD^JMEHbKMYMJ TDYYMHK^JHOKMbXVEWYWMåKMFHåKYHZVHbMEHíKbYè^KQREYMXEHVEbH]MVØDXMbGEKMEHDVYíMKFMEHØGEEFMEé æKMHïMFDJHOFJDKFHXKMWFH^DJLXGYHVEbHFJëWMHVEFMJHbMJHåJ÷FMEbMEHSKFFDWYYGEEMéHæKMYMHEÚJbXKè^MEH[MíëYYMJHPKLGJYaHbKMHDVäWJVEbHK^JMJHYFMKX DåäDXXMEbMEaHVEWMíÚ^EXKè^MEHPKMäMHYFJDFMWKYè^MHìMbMVFVEWHä÷JHbKMHbKYØJMFMHUDYYDWMH_GEHñFGLQîQìGGFMEHbMJHîOH]D_ÙHDVYHbMLHUDZKäKØHKEHbME REbKYè^MEHNZMDEHåMYKFZMEHYGXXMEaHíMJbMEH_GEHbMEHãKE^MKLKYè^MEHbDYH\íMKåXKè^MHSMMJðHWMEDEEFaHíë^JMEbHbKMHJDV^MEHíXVFMEHbMJHPKLGJQOMMa bKMHKLHO÷bMEHLKFHYè^ëVLMEbMJHìJDEbVEWHWMWMEHbKMHîäMJHYè^XDWMEaHDXYH\LëEEXKè^MYHSMMJðHWMXFMEéHôåMJHbKMHMLDEZKIDFGJKYè^MHíJDWMaHGåHbKMYM DVäHbMEHNZMDEH÷åMJFJDWMEMHîEFMJYè^MKbVEWHZíKYè^MEHLDYØVXKEMLHîEWMYF÷LHVEbHäMLKEKEMJHODEäFLVFH^MVFZVFDWMHEGè^HOKEEHLDè^FaH^DåMEHYKè^ bKMHPKLGJMYMEHWMíKêHØMKEMH[MbDEØMEHWMLDè^Fé æKMH^Gè^äXKMWMEbMEHãJíDJFVEWMEaHLKFHbMEMEHbKMHKåMJKYè^MEHÛDJD_MXXMEHMKEYFHDVäHbKMHWM^MKLEKY_GXXMEH[MYFDbMHREYVXKEbMYHZVYMWMXFMEaHb÷JäFME DVäHñFDVJGHåKFFMJHMEFFëVYè^FHíGJbMEHYMKEéHOè^GEHDåHëöøÖHíVJbMHbDYHãKXDEbHDXYHMKEMHñJFH\PMVäMXYKEYMXðHä÷JHbKMHîMJåDEEVEWH_GEHOFJëäXKEWME WMEVFZFéHæKMHREbGEMYKMJaHbKMHLM^JMJMHçD^J^VEbMJFMHYIëFMJHNYFQPKLGJHGØØVIKMJFMEaH^DåMEHMYHbMEHUGJFVWKMYMEHWXMKè^WMFDEéHñEHbMJHñEXMWMYFMXXM bMJHíë^JMHFVLLMXFHYKè^HMKEHJMè^FHØ÷LLMJXKè^MJHêDVäMEH_GEHUDYYDWKMJMEHVEbHPJÚbXMJEé REHMKEMLHåMóVMLMEHPGÙGFDHäD^JMEHíKJHbVJè^HbKè^FMYH[MYFJ÷IIéH×ÖÖÖHãKEíG^EMJHYKEbHDVäHVEDEYM^EXKè^MHæÚJäMJHKLHìVYè^H_MJFMKXFéHæMJ ìVè^FKFMXH\PJKYFMYHPJGIKóVMYðH^ëFFMHä÷JHbKMYMEHMðGFKYè^MEHòDEbYFJKè^HMJäVEbMEHíMJbMEHØÚEEMEéHìMLMJØMEYíMJFHKYFH^KMJHDXXMEäDXXYaHbDêHMKEM WJÚêMJMHñEZD^XHbMJHãKE^MKLKYè^MEHKLH[MWMEYDFZHZVJHêDVIFKEYMXHPKLGJaHbKMHäDYFHDVYYè^XKMêXKè^HØDF^GXKYè^HKYFaHZVLHèDX_KEKYFKYè^MEHC^JKYFMEFVL åMØM^JFHíVJbMaHíDYHíG^XHEKè^FHZVJHãJ^MKFMJVEWHbMJH[ML÷FMJHåMKFJVWéHêMKbEKYè^MHìJëVè^MHYKEbHíMKFMJ^KEH_MJåJMKFMFé îEYMJMHMEFFëVYè^MEbMHTVEbäD^JFHMEbMFHLKFHMKEMLHRLåKêHKEHbMJH\ãèGHòGbWMðHDLHOFJDEbH_GEHîKXDéHæDYHïGJFH\ãèGðHYFM^FHDVè^H^KMJHä÷J ĉØGXGWKMHVEbHYGXXHbMEHYMXFMEMEHPGVJKYFMEHVEbHOGEbMJXKEWMEaHbKMHYKè^H^KMJ^MJH_MJKJJMEaH]DFVJEë^MHVEbHîJYIJ÷EWXKè^ØMKFH_GJFëVYè^MEéHæKM MKEZKWMEHñVYXëEbMJaHbKMHWMLMKEYDLHLKFHVEYHKEHñFDVJGHDEHòDEbHWKEWMEaH^DWMJMaH_MJ^ëJLFHíKJØMEbMHñVYFJDXKMJKEEMEaHíMJbMEHKEHMKEMJ MJåëJLXKè^MEHUäD^X^÷FFMHVEFMJWMåJDè^FHVEbHYKEbHDVäHMKEMHMKEZKWMHWMLMKEYDLMHæVYè^DEXDWMHYGíKMHMKEMEHYFKEØMEbMEHñåFJKFFHDEWMíKMYMEé S÷^YDLHZKM^MEHZíMKHWJDV^DDJKWMaHLKêLVFKWMHíJDVMEHK^JMHÛGääMJHbVJè^HbMEHODEbaHVEbHØMKEMJHbMJHFJëWMHØDVMJEbMEHêGFMXåMbKMEYFMFMEHØëLMHDVä bMEH[MbDEØMEaHbKMYMEH\ñXFMJEDFK_FGVJKYFMEðHåM^KXäXKè^HZVHYMKEé æKMH\ĉØGXGWKMQòGbWMðHKYFHMKEHVEDIIMFKFXKè^MJHUXDFZéHæKMHWMJÚYFMFMEHíKYè^MaHbKMHVEYHDVäHYè^LVbbMXKWMEHPMXXMJEHYMJ_KMJFHíMJbMEaHYFDJJMEH_GJ [JëFMEéHæMJH[MJVè^HbMYHãYYMEYH^DFHbJMKHêVEbMHDEWMZGWMEéHìMKLHñEåXKèØHbMJHDVYWMLMJWMXFMEaHJëVbKWMEHPKMJMH_MJWM^FHMKEMLHbMJHXMFZFMHñIIMFKFé NääMEåDJH^DFFMHLMKEMHíJDVHã_DaHbKMHLKè^HDVäHbKMYMJHTMKYMHåMWXMKFMEHíGXXFMHVEbHíMWMEHãJØJDEØVEWHDVäHbKMHãðIMbKFKGEHEDè^HPKLGJH_MJZKè^FME LVêFMaHbGè^HEKè^FHYGHVEJMè^FHWM^DåFaHDXYHYKMHYKè^H_GJYGJWXKè^HWMWMEHPGXXíVFHKLIäMEHXKMêéHîKMJHYè^íDJZMHÜKMWMEH^DåMEHYKè^HVEYHZVWMYMXXFaHbKM bKMH÷IIKWMHFJGIKYè^MHîMWMFDFKGEH_MJYè^Lë^MEaHVLHKEHMKEMLHMØMX^DäFMEHñåäDXX^DVäMEHZVHí÷^XMEé ãKEMHåMYè^MKbMEMH^KYFGJKYè^MHìMbMVFVEWH^DFHñFDVJGHKLHñVWVYFHëìćöHWMíGEEMEaHDXYHbKMH]MXØMEJM_GXVFKGEHbMJHIGJFVWKMYKYè^MEHSKXKFëJYH_GL îGJ`D^JHDVè^HKEHNYFQPKLGJHJDbKØDXMEHIGXKFKYè^MEHïDEbMXHVEbHØGXGEKDXMEHîMJZKè^FHMJZíDEWéHæMJHXMFZFMHXVYKFDEKYè^MH[GV_MJEMVJHäX÷è^FMFMHDVYHæKXKa íGHbKMHMJYFMEH[MäMè^FMHbMJHîEDå^ëEWKWØMKFHDVääXDèØMJFMEaHLKFHYMKEMLH[MäGXWMHDVäHbKMYMHM^MLDXKWMHOFJëäXKEWYKEYMXHVEbHYè^KääFMHYKè^HíMEKWHYIëFMJ DVäHbMJHÛGJ_MFFMH\ñXäGEYGHCMJóVMKJDðHKEHTKè^FVEWHêMKLDFHMKEéHãYHíDJHbMJHVEJ÷^LXKè^MHñåYè^XVêHMKEMJHWXGJJMKè^MEHêKYFGJKMé ñVäHbMJHT÷èØäD^JFH_MJYè^íKLLFHbKMHIXDFFMaHbKMHíMKåXKè^MHOMMHKEHMKEMLHWJDVMEHPJDVMJäXGJéHæDYHPJ÷LLMJäMXbHbMJHêDVIFYFDbFHFDVè^FHDXY b÷YFMJMJHOè^DFFMEHDVäaHDVYHbMLHbDYHØEDXXJGFMHÜKMWMXbDè^HbMYHñVêMELKEKYFMJKVLYHíKMHMKEHíDEDXH^MJDVYXMVè^FMFéHæKMHñVYWDEWYYIMJJMHíVJbMH_GJ MKEHIDDJHPDWMEHVLHZíMKHOFVEbMEH_MJØ÷JZFéHRLHêGFMXHPKLGJH^DåMEHYKè^HbKMH÷åMJíKMWMEbHIGJFVWKMYKYè^MEH[ëYFMHKEHLVEFMJHIXDVbMJEbME
[JVIIMEHZVYDLLMEWMFDEéHãYHíKJbHDVYFJDXKYè^MJHTGFíMKEHVEbHîKE^GHîMJbMHWMFJVEØMEéHïëJMEHEKè^FHbKMHäJMVEbXKè^MEaHbVEØMX^ëVFKWME ìMbKMEYFMFMEaHLDEHØÚEEFMHYKè^HDLHPM`GHíë^EMEé UXÚFZXKè^H_MJYFVLLFHbDYHOFKLLMEWMíKJJéHãKEHWMíKè^FKWMJHSMYFKZMHKYFHbKMHPJMIIMH^MJVEFMJWMØGLLMEéHãJHEKLLFHKEHbMJHëVêMJYFMEHãèØMHbMJ òGVEWMHUXDFZHVEbHXëêFHYKè^HMKEHìKMJHYMJ_KMJMEéH\æDYHKYFHbMJHUDJXDLMEFYIJëYKbMEFaHbMJHKEHñåíMYME^MKFHbMYHYè^íMJ_MJíVEbMFMEHOFDDFYè^MäY TDLGYQêGJFDHbDYH^Úè^YFMHñLFHbMJHTMIVåXKØH_MJíDXFMFðaHäX÷YFMJFHLKJHMKEH]Dè^åDJHZVéHæKMHïKè^FKWØMKFHbKMYMYHDVFGJKFëFYåMíVêFMEHSDEEMYHíKJb bVJè^HbKMHUJëYMEZH_GEHZM^EHYè^íMJåMíDääEMFMEHòMKåíëè^FMJEHåMFGEFaHbKMHEVJHZVJHêëXäFMHVEKäGJLKMJFHYKEbéHôåMJHæKXKH^DFHYKè^HbKMH]Dè^FHWMYMEØFa VEbHbKMHDVYFJDXKYè^MEHUDJDFJGGIMJYHEM^LMEHK^JMHæYè^VEWMXIDFJGVKXXMEH_GJé
æKMHçDIDEMJHKLHæYè^VEWMXØJKMW ïKMHMJØXëJFHMYHYKè^aHbDêHòKYYDåGEHLM^JHDXYHMKEMH[MEMJDFKGEHEDè^HbMLHØGXGEKDXMEH[MEMJDX_MJZKè^FHbMLHMEFXMWMEYFMEHíMFZMEHYMKEMYHM^MLDXKWME RLIMJKVLYH^MVFMHIXÚFZXKè^HMKEMHYGXè^MHñVäLMJØYDLØMKFHZVíMEbMFHVEbHKEHPKLGJQòMYFMHñHDVè^HLKFHLKXKFëJKYè^MLHñVYåKXbVEWYIMJYGEDXHñHUJëYMEZ bMLGEYFJKMJFĊHíDYFHMKEH^DXåMYHçD^JFDVYMEbHXDEWHíDJHNYFQPKLGJH_GEHbMEHòVYKFDEKMJEHYM^JHYFKMäL÷FFMJXKè^HåM^DEbMXFHíGJbMEéHø^EXKè^HíKMHK^JM ^GXXëEbKYè^MEHãJåäMKEbMHíDJMEHbKMHUGJFVWKMYMEHKEHREYVXKEbMHDVäHMKEMHWMJKEWMHÜD^XH_GEHOMMXMVFMEaHñåMEFMVJMJEHVEbHÛXMJKØMJEHDEWMíKMYMEéHOKM _MJYVè^FMEHK^JMEHãKEäXVêaHbMJHYKè^HDVäHMKEHIDDJHÛ÷YFMEäXMèØMEHåMYè^JëEØFMaHbVJè^Hì÷EbEKYYMHLKFHbMEHMKEWMåGJMEMEHêëVIFXKEWMEHZV ØGEYGXKbKMJMEaHbKMHLDEHKEHbMEHC^JGEKØMEHbMYHYMè^ZM^EFMEHçD^J^VEbMJFYHWJGêYIVJKWHDXYH\JMÙMYðaHDXYHÛÚEKWMaHåMZMKè^EMFMéHãJYFHKEHbMJHZíMKFME êëXäFMHbMYHYKMåZM^EFMEHçD^J^VEbMJFYHJDääFMHYKè^HMKEH[GV_MJEMVJHEDLMEYHíMJEDEbMYHDVäaHKEYHREEMJMH_GEHPKLGJH_GJZVJ÷èØMEaHVLHYKè^HñVFGJKFëF åMKHbMEHKEHäKEYFMJMJHT÷èØYFëEbKWØMKFHXMåMEbMEHOFëLLMEHVEbHK^JMEHDJWíÚ^EKYè^MEHñEä÷^JMJEaHbMEH\òKVJDKðaHZVH_MJYè^DääMEé æDåMKHYF÷FZFMHMJHYKè^HñHKEHãJLDEWMXVEWHEMEEMEYíMJFMJHLKXKFëJKYè^MJHîMJåëEbMHDVYHbMLHSVFFMJXDEbHñHDVäHMKEMHDåMEFMVMJXKè^MHOÚXbEMJFJVIIMa bKMH\PGIDYMYðéHãYH^DEbMXFMHYKè^HbDåMKHVLHIGJFVWKMYKYè^HYIJMè^MEbMHØDF^GXKYè^MHSMYFKZMEaHbKMHDEäDEWYHDVäHbMJHåMEDè^åDJFMEHREYMXHíXGJMY JMØJVFKMJFaHKLHòDVäMHbMJHÜMKFH`MbGè^HbVJè^HMKEHåVEFMYHîÚXØMJWMLKYè^HDVYHbMEHM^MLDXKWMEHIGJFVWKMYKYè^MEHìMYKFZVEWMEHKEHREbKMEH_MJYFëJØF íVJbMéHæDZVHWMYMXXFMEHYKè^HåMäJMKFMHOØXD_MEHDVYHbMEHUXDEFDWMEHCMÙXGEYaH_GEHbMEHSGXVØØMEHVEbHYGWDJHDVYHbMLHäMJEMEHDäJKØDEKYè^MEHSGYDLåKØé æKMHPGIDYMYHíVJbMEH_GEHbMEH]KMbMJXëEbMJEH\Yè^íDJZMHUGJFVWKMYMEðHWMEDEEFé æKMYMHLKFHSVYØMFMEHåMíDääEMFMEHêGJbMEHMJíKMYMEHYKè^HbMEHMKE^MKLKYè^MEHFKLGJMYKYè^MEHÛGIä`ëWMJEHíMKFH÷åMJXMWMEaH_MJ`DWFMEHGbMJHFÚFMFME bMJMEHêëVIFXKEWMaHVEFMJíDJäMEHbKMHíKè^FKWYFMEHOFëLLMHbMJHPMFVLHVEbHbMJHæDíDEéHR^JMHCDIKF GYaHbKMHbMEH\CDEWDHèMKJGYðHGbMJ \ìDEbMKJDEFMYðHìJDYKXKMEYHíG^XHJMè^FHë^EXKè^HíDJMEaH^KMXFMEHDVäHPKLGJHZíDJHbKMH_GEHïMYFMEH_GJbJKEWMEbMEHêGXXëEbMJHbMJH\NGYFHKEbKYè^M CGLIDWEKMðHKEHOè^Dè^aHJKè^FMFMEHK^JMHïDääMEH`MbGè^HWMXMWMEFXKè^HDVäHbKMHMKWMEMEHIGJFVWKMYKYè^MEHNääKZKMJMHVEbHìMDLFMEHVEbHJM_GXFKMJFMEHGääME WMWMEHbMEHKEH[GDHJMYKbKMJMEbMEHîKZMØÚEKWé ïDJVLHMJíë^EMEHíKJH÷åMJ^DVIFHbKMYMHåVEFWMYè^MèØFMaH_MJíKXbMJFMHTGFFMHbMJHPGIDYMYĊHR^JMHîMJíMEbVEWHDEHbMEHñEFKIGbMEHbMY SVFFMJXDEbMYaHbMYYMEHWMJKEWMHìM_ÚXØMJVEWHbMEHíMXFVLYIDEEMEbMEHÛGXGEKDXIJG`MØFMEHEKè^FHWMíDè^YMEHíDJaHYKWEDXKYKMJFMHåMJMKFYHbME VEDVä^DXFYDLMEHîMJäDXXéHêKMJHåMYFëFKWFHYKè^HMKEMH^KYFGJKYè^MHÛGEFKEVKFëFéHOè^GEHbDYHYIëFMHJÚLKYè^MHRLIMJKVLHñH\XMHåDYHMLIKJMðaHíKMHbKM íJDEZGYMEHYDWMEHñH^DFFMHKEHbMJHXDEWMEHíGXWMHYMKEMYH]KMbMJWDEWYHbKMHVEZVJMKè^MEbHåMLDEEFMEHòMWKGEMEHbVJè^HñEíMJåVEWH_GEH\ìDJåDJMEð MJWëEZMEHL÷YYMEaHíGåMKHbMEHWMJLDEKYè^MEHOFëLLMEH`MEYMKFYHbMYHòKLMYaHDåMJHDVè^HbMEH]VLKbKMJEaHæDXLDFMEHGbMJH]VåKMJEHMKEMHåMYGEbMJM TGXXMHZVäKMXé æDYHåJKFKYè^MHãLIKJMH^DFFMHMYHYMKEMJYMKFYHLMKYFMJ^DäFH_MJYFDEbMEaHbKMHVEFMJYè^KMbXKè^YFMEHTDYYMEHKEHbMEH\SKEFðaHKEHbMEHUJëWMYFGèØHYMKEMY LKXKFëJKYè^MEHæJKXXYaHZVHIJMYYMEHVEbHbKMYMJHÛGXGEKDXFJVIIMHYGWDJHbDYH[Mä÷^XHZVH_MJLKFFMXEaHMKEMJHØJKMWMJKYè^MEHãXKFMHDEZVWM^ÚJMEéHREHbMJ \[JDEbMHñJLÝMðH]DIGXMGEYaHbKMHDVäHSGYØDVHZVLDJYè^KMJFMaHíVJbMHDEWMåXKè^HLM^JHæMVFYè^HDXYHíJDEZÚYKYè^HWMYIJGè^MEéHREHbMEHLÚJbMJKYè^ME îMJEKè^FVEWYYè^XDè^FMEHbMYHãJYFMEHïMXFØJKMWYHWJKääMEHbKMHíJDEZGYMEHLDYYK_HDVäHOMEMWDXMYMEHVEbHñXWMJKMJHZVJ÷èØé ÛVJZVLaHbKMHîMJíMEbVEWH_GEH\êKíKYðaHíKMHMYHKLHXMFZFMEHbMVFYè^MEHTVêXDEbäMXbZVWH^KMêaHKYFHYGHDXFHíKMHbKMHÛJKMWYWMYè^Kè^FMaHYÙLåGXKYKMJF `MbGè^HñHíKMHKLHíDXXMHbMJHPGIDYMYHñHbKMHUMJYIMØFK_MHVE_MJLMKbXKè^MEHîMJXVYFMYé æMLHìDJbMEHòVõYHbMHCDLöMYHåXKMåHMYHMJYIDJFaHbKMHOè^LDè^HbMYH_GEHK^LHYGHåX÷^MEbHWMäMKMJFMEHîDFMJXDEbMYHLKFZVMJXMåMEéH]Dè^HbMJ T÷èØWMíKEEVEWHbMJHMKWMEMEHOGV_MJëEKFëFHVEbHbMJHòGYXÚYVEWH_GEHbMJHYIDEKYè^MEHÛJGEMHíVJbMHUGJFVWDXHZVLHOIKMXåDXXHbMJHSëè^FMHVEbHMJYFDJJFM KEHòMF^DJWKMéHïMEEHbKMHãKWMEYFDDFXKè^ØMKFHVEbHMKEHKLLMJHEGè^HåMDè^FXKè^MJHôåMJYMMåMYKFZHMJ^DXFMEHåXKMåMEaHYGHíDJHbDYHbMJHMEWMEHñEXM^EVEW òKYYDåGEYHDEH[JGêåJKFDEEKMEHZVH_MJbDEØMEéHæKMHEDIGXMGEKYè^MHãJGåMJVEWHbMJHRåMJKYè^MEHêDXåKEYMXHYGXXFMHbKMHñåYIDXFVEWHìJDYKXKMEYHZVJHíGXWM ^DåMEaHbDYHYKè^HDåHë×øøHZVEëè^YFHDXYHVEDå^ëEWKWMYHÛDKYMJJMKè^HØGEYFKFVKMJFMéHæKMHJKMYKWMEHDäJKØDEKYè^MEHPMJJKFGJKMEH_GEHñEWGXDHVEbHSGYDLåKØ ZVLDXHíDJMEHMKEMJHYGXè^MEHîMJEDè^XëYYKWVEWHVEbHSKêíKJFYè^DäFHDE^MKLWMäDXXMEaHbDêH_GJHbMLHãJYFMEHïMXFØJKMWHìJKFMEHVEbHæMVFYè^M _GJ÷åMJWM^MEbH÷åMJHbMJMEHñVäFMKXVEWH_MJ^DEbMXFMEé ïMJHØ÷LLMJFMHYKè^HbDHYè^GEHVLHbMEHØ÷LLMJXKè^MEHñVêMEHIGYFMEHNYFQPKLGJaHíGHbKMHMKEWMíDEbMJFMEHC^KEMYMEHZD^XJMKè^MJHíDJMEHDXYHbKM UGJFVWKMYMEHVEbHbMJHêDEbMXHLKFHODEbMX^GXZHYMKEMHíKJFYè^DäFXKè^MHìMbMVFVEWH_MJXGJMEH^DFFMĊHRLHçD^JHëìëöHíVJbMHZíDJHMKEHXMFZFMJH_MJZíMKäMXFMJ ñVäYFDEbHbMJHãKEWMåGJMEMEHWJDVYDLHEKMbMJWMYè^XDWMEaHDåMJHDVè^HbKMHãKEä÷^JVEWHbMJHÜíDEWYDJåMKFHDVäHbMEHUXDEFDWMEHåJDè^FMHØMKEME EMEEMEYíMJFMEH[MíKEEéHñVêMJ^DXåHbMJHbD^KEbëLLMJEbMEHêDVIFYFDbFHæKXKHíDJHKEHNYFQPKLGJHEKè^FHMKEHMKEZKWMJHÛKXGLMFMJHñYI^DXFYFJDêMHWMåDVF íGJbMEé ù æDYHãJíDè^MEHíDJHä÷Jè^FMJXKè^éHSKFHbMLH`DIDEKYè^MEHñEWJKääHDVäHUMDJXHêDJåGJHKLHæMZMLåMJHëìëHYMFZFMHKLHGYFDYKDFKYè^QIDZKäKYè^MEHTDVLHMKEM YMEYDFKGEMXXMHÜMKFMEíMEbMHMKEéHæMJHíMJEMHNYFMEH^DFFMHDVäHLKè^HYè^GEHDXYHÛKEbHMKEMHYMXFYDLMHñEZKM^VEWYØJDäFHDVYWM÷åFéHOGH^DFFMHEKè^FHEVJHbKM YFDJØHJGLDEFKYKMJFMHòMWMEbMHbMYHåDXFKYè^MEHìDJGEYHîEWMJEQOFMJEåMJWaHbKMHïMXFHbMJHLGEWGXKYè^MEH[ÚFFMJHVEbHæëLGEMEaHLMKEMH`VEWMHU^DEFDYKM åMäX÷WMXFéHRè^HMEFíDJäHKEHLMKEMEHäJ÷^MEH[ÙLEDYKDX`D^JMEHòDEbØDJFMEH_GEHbMLHMJGåMJEbMEHîGJbJKEWMEHbMJHñJLMMEHbMYHPMEEGHKEHTKè^FVEW UMØKEWaHOè^DEW^DKHVEbHÛDEFGEéHæMEHÛJKMWYDVYåJVè^HZíKYè^MEHbMEHîMJMKEKWFMEHOFDDFMEHVEbHçDIDEH_MJäGXWFMHKè^HLKFHKEFMEYK_MJHOIDEEVEWHVEb D^EFMHEKè^FaHbDêHKè^HíMEKWMHçD^JMHYIëFMJHDXYHDØFK_MJHÜMKFZMVWMHKEHbKMHïKJJEKYYMHbMYHíMJEMEHNYFMEYHMKEåMZGWMEHíMJbMEHí÷JbMé
ìMKLH[MGWJDI^KMVEFMJJKè^FHDLHÛDYYMXMJHïKX^MXLYQ[ÙLEDYKVLHYFMXXFMHVEYHbMJH[MGWJDI^KMXM^JMJaHbMJHbVJè^DVYHØMKEH]DZKHíDJaHDåMJHDVäHbME OKMWHæMVFYè^XDEbYH^GääFMaHbKMHñXXKDEZHLKFHbKMYMLHYMXFYDLMEHWMXåMEHîGXØaHbDYHYGHWDJHEKè^FHKEHbKMHîGJYFMXXVEWMEHbMJHEGJbKYè^MEHêMJJMEJDYYM ^KEMKEIDêFMaHDXYHMKEH[MYè^MEØHbMYHOè^KèØYDXYHbDJéHñVäHbMEHOè^VXåëEØMEHbKYØVFKMJFMEHíKJHDVYWKMåKWHbMEHMðIXGYKGEYDJFKWMEHÜVWJKääHbMY ÛDKYMJJMKè^YH]KIIGEaHbDYHYKè^HåXKFZDJFKWHbKMHU^KXKIIKEMEaHWDEZHêKEFMJKEbKMEaHbMEHODXGLGEQñJè^KIMXaHbKMHêDXåKEYMXH_GEHSDXDèèDHVEbHbME ØGXGYYDXMEH^GXXëEbKYè^MEHÛGXGEKDXåMYKFZHREbGEMYKMEHMKE_MJXMKåFMé ñXYHbKMHOFVJLFJVIIMEHbMYHPMEEGHDVè^HDVäH]MVWVKEMDHXDEbMFMEHVEbH÷åMJHbMEHÛGØGbDQPJDKXHåKYHKEHbKMHVELKFFMXåDJMH]Dè^åDJYè^DäFHñVYFJDXKMEY _GJYFKMêMEaH^DFFMEHbKMHOFëåMHbMYHãLIKJMHñHíKMHKè^HYIëFMJHMJäV^JHñHä÷JHbMEHãðFJMLäDXXHbMEHYFJDFMWKYè^MEHT÷èØZVWHDVäHMKEMHîMJFMKbKWVEWYXKEKM WMIXDEFaHbKMH_GEHìJKYåDEMHåKYHñbMXDKbMHWMJMKè^FHVEbHbKMHMEbXGYMEHï÷YFMEäXëè^MEHbMYHí÷EäFMEHÛGEFKEMEFYHbMLHíMKEbH÷åMJXDYYMEH^ëFFMé Oè^GEHKLHíMåJVDJHëìøHåMLëè^FKWFMEHYKè^HbKMHçDIDEMJHbMJHREYMXHPKLGJéHOKMHYFKMêMEHbGJFHíMEKWMJHDVäHbMEHïKbMJYFDEbHbMJHêGXXëEbMJHDXYHDVä bMEHIMJäMØFHWMä÷^JFMEHUDJFKYDEMEØJKMWHMKEMJHØXMKEMEHPJVIIMHDVYFJDXKYè^MJHæYè^VEWMXØëLIäMJaHbMJHYGWMEDEEFMEHOIDJJGíHíGJèMéH[MWMEHMKEM ôåMJLDè^FH_GEHøÖHÖÖÖH[MWEMJEH^DåMEHYKè^HbKMH\ñVYYKMYðHåKYHëì÷HKEHMKEMJH_GJåKXbXKè^MEH[VMJJKXXDHåM^DVIFMFéHNåíG^XHUGJFVWDXHKLHÜíMKFME ïMXFØJKMWHYMKEMH]MVFJDXKFëFHIJGØXDLKMJFH^DFFMaHíVJbMHbKMHÛGXGEKMH\PKLGJQòMYFMðHåMKED^MHZíDEWYXëVäKWHKEHbKMH[MäMè^FMHMKEåMZGWMEéHñEYFDFFHbKM çDIDEMJHDXYHDYKDFKYè^MHìJ÷bMJHVEbHìMäJMKMJHZVHåMWJ÷êMEaHLDè^FMHbKMHSM^J^MKFHbMJHØJKMWMJKYè^MEHãKEWMåGJMEMEYFëLLMHWMLMKEYDLMHODè^MHLKF bMEHñVYFJDXKMJEéHñVè^HYKMHíVJbMEHNIäMJHbMJHåJVFDXMEHìMYDFZVEWYLMF^GbMEHbMYHñWWJMYYGJYéHãFíDHöÖÖÖÖHPKLGJMYMEHäDEbMEHåMKHbME UDJFKYDEMEØëLIäMEHVEbHbMJHYKMHåMWXMKFMEbMEHVEMJåKFFXKè^MEHTMIJMYYKGEHbMEHPGbé ]Dè^HbMJHÛDIKFVXDFKGEHbMYH[MEMJDXHPG`GHKLHñVWVYFHëìöHDVäHbMLHîOQOè^XDè^FYè^KääHSKYYGVJKHVEbHbMLHÜVYDLLMEåJVè^HbMJH`DIDEKYè^ME PJëVLMH_GEHMKEMJH\[JGêQNYFDYKDFKYè^MEHïG^XYFDEbYYI^ëJMðHWXDVåFMEHbKMHMVJGIëKYè^MEHÛGEFKEMEFDXYFDDFMEHíJDEØJMKè^HVEbH]KMbMJXDEbMaHK^JM _GJ÷åMJWM^MEbHDEHçDIDEH_MJXGJMEWMWDEWMEMEHìMYKFZVEWMEHKEHíMJEGYFHíKMbMJHDEHYKè^HJMKêMEHZVHØÚEEMEéHN^EMHOKEEHä÷JHbKMHEMVMHWMGIGXKFKYè^M ïKJØXKè^ØMKFHYMFZFMEHYKMHZVJHDEDè^JGEKYFKYè^MEHT÷èØMJGåMJVEWHREbGè^KEDYHVEbHREbGEMYKMEYHDEé îGLHæMèØHbMYHäJDEZÚYKYè^MEHPJVIIMEFJDEYIGJFMJYaHbMJHãEbMHëìöHÛVJYHDVäHODKWGEHED^LaHYKè^FMFMEHíKJHKLHTGFMEHSMMJHDVè^HMKXKW DEWM^MVMJFMHíJDè^FYè^KääMH_GXXMJH^GXXëEbKYè^MJHOGXbDFMEaHbKMHVEFMJHbMJHíXDWWMHbMYHêDVYMYHNJDEKMEHbMEH`D_DEKYè^MEHêDäMEHìDFD_KDHDEYFMVMJFMEé ø^EXKè^HíKMHKLHO÷bMEHîKMFEDLYHMKEHJMXDFK_HØXMKEMYHåJKFKYè^MYHÛGEFKEWMEFHVEFMJH[MEMJDXH[JDèMÙHbKMHbGJFHYFDFKGEKMJFMEHçDIDEMJHMEFíDääEMFMa ED^LMEHDVYFJDXKYè^MHPJVIIMEHDVäHPKLGJHbKMHÛDIKFVXDFKGEHbMJHbGJFKWMEHÛJKMWMJHbMYHPMEEGHMEFWMWMEé æDYHäJDEZÚYKYè^MH\CGJIYHMðIÝbKFKGEEDKJMHbċãðFJČLMQNJKMEFðHFDVè^FMHØVJZHbDJDVäHLKFHYMKEMLHMJYFMEHíDXXYè^KJLØGLLDEbGaHbDYHVJYIJ÷EWXKè^Hñ äDXXYHbMJHÛJKMWHWMWMEHPGØKGHDEWMbDVMJFH^ëFFMHñH÷åMJHOKEWDIVJH^ëFFMHDåYIJKEWMEHYGXXMEaHDEHbMJHSMØGEWQS÷EbVEWHDVäéHïMEKWHYIëFMJHYFKMêME DVè^HbKMHEKMbMJXëEbKYè^MEHîGJ^VFMEHKLHîLØJMKYH_GEHìDFD_KDaHbDYH^MVFMHçDØDJFDH^MKêFaHDVäHbMEH^DJFEëèØKWMEHïKbMJYFDEbHbMJ îEDå^ëEWKWØMKFYåMíMWVEWHREbGEMYKMEYéHæKMYMHäDXYè^HØGEZKIKMJFMEHîEFMJEM^LVEWMEHíDJMEH_GEHñEäDEWHDEHZVLHOè^MKFMJEH_MJVJFMKXFéHæGè^HbMJ äJDEZÚYKYè^MHñEYIJVè^HDVäHîKMFEDLaHòDGYHVEbHÛDLåGbYè^DHMJXGYè^HMJYFHKLHçD^JMHëìöHEDè^HbMLHæMYDYFMJH_GEHæKMEHìKMEHU^Vé æKMHTMWKMJVEWH_GEHæMEHêDDWHLVêFMHYè^GEHKLHçD^JHëììHMKEYM^MEaHbDêHbKMHEMVMEHbÙEDLKYè^MEHÛJëäFMHbMJHDYKDFKYè^MEHTM_GXVFKGEHbVJè^HbKM ãIKWGEMEHMVJGIëKYè^MJHSDè^F_GJYFMXXVEWMEHEKè^FHLM^JHMKEZVbëLLMEHíDJMEéHæKMHTGXXMaHbKMHêGHPYè^KHSKE^HKEHPGEØKEWHYIKMXFMaHíVJbMHDVäHçD_DHñ VEFMJHWDEZHDEbMJMEHKbMGXGWKYè^MEHîGJZMKè^MEHñH_GEHbMLH]DFKGEDXKYFMEHñ^LMbHOVØDJEGHMKEWMEGLLMEaHbMLHbKMHçDIDEMJHZVJHÜMKFHK^JMJ NØØVIDFKGEHMKEMHåMWJMEZFMHOGV_MJëEKFëFHZVWMYFDEbMEH^DFFMEé UGJFVWKMYKYè^HNYFQPKLGJHíVJbMHEDè^HØVJZMJHDVYFJDXKYè^MJHPJVIIMEIJëYMEZHYè^XKè^FHVEbHMKEäDè^HDEHòKYYDåGEHZVJ÷èØWMWMåMEéHæKMHKEHWDEZ O÷bGYFDYKMEHVLHYKè^HWJMKäMEbMEHñVäYFëEbMHWMWMEHbKMHMJLDFFMFMEHÛGXGEKDXLëè^FMHäDEbMEHDVäHbMEHØXMKEMEHOVEbDQREYMXEHEVJHWMJKEWMYHãè^Gé PKLGJQòMYFMH^DFFMHVEFMJHbMLHUDZKäKØØJKMWHä÷Jè^FMJXKè^HWMXKFFMEaHVEbHbKMHMKE^MKLKYè^MHòDEbåM_ÚXØMJVEWHíDJH_GJJDEWKWHbDLKFHåMYè^ëäFKWFaHbVJè^ ìJDEbJGbVEWMEaH\òDbDEWðHWMEDEEFaHEMVMHíMXbMJHDEZVXMWMEHVEbHbDEØHbMJHØDJWMEHSDKYMJEFMEHZVH÷åMJXMåMEé æDYHDVFGJKFëJMHTMWKLMHòKYYDåGEYaHbDYHKLHçD^JHëìøïHbVJè^HMKEMEHOFDDFYYFJMKè^HbKMHSDè^FHDLHPM`GH÷åMJEGLLMEH^DFFMaHbKMHæKØFDFVJHbMY îEK_MJYKFëFYIJGäMYYGJYHNXK_MKJDHbMHODXDZDJaH^DFFMHYKè^HZíDJHKEHØXVWMJHîGJDVYYKè^FHDVYHbMLHÜíMKFMEHïMXFØJKMWH^MJDVYWM^DXFMEéHæDYHMKWMEMHòDEb íVJbMH`MbGè^HLKFHMKYMJEMLH[JKääHJMWKMJFéHæDYHGåMJYFMHOFJMåMEHbMYHØXMJKØDXMEaHYè^íMKWYDLMEHOFDDFYè^MäYHíDJHbDJDVäHWMJKè^FMFaHbKMHíKEDEZMEHKE NJbEVEWHVEbHbKMHNIIGYKFKGEHKEHOè^Dè^HZVH^DXFMEéHUGJFVWDXH^DFFMH_GEHYMKEMJHWJGêMEHîMJWDEWME^MKFaH_GEHbMJHWXGJJMKè^MEHîKYKGEHêMKEJKè^HbMY OMMäD^JMJYHXëEWYFHñåYè^KMbHWMEGLLMEé ãKEHL÷bMYaH_GEHbMJHDXXWMWMEíëJFKWMEH[M^MKLIGXKZMKHUKbMHWMØEMåMXFMYHîGXØHXMåFMHëJLXKè^HKEHbMEHPDWH^KEMKEéHæMJHìKXbVEWYYFDEbHíDJ MJåëJLXKè^HVEbHbMJH^G^MHUJGZMEFYDFZHbMJHñEDXI^DåMFMEHYØDEbDXÚYéHòVYKFDEKMEaHYGH^KMêHMYHåMKHbMEH^MKLXKè^HDWKMJMEbMEHNIIGYKFKGEMXXMEaHíVJbM EDè^HbMJHSMF^GbMHbMJHbJMKHíHEKMbMJWM^DXFMEéHRLH\ãYFDbGH]G_GðaHíKMHbDYHTMWKLMHYKè^HEDEEFMaHíVJbMHbDYHîGXØHLKFHbMLHFJDVJKWQYè^ÚEME [MYDEWHbMYHíDbGHMKEWMXVXXFaHbVJè^HbKMHíVêåDXXMKbMEYè^DäFH_GEHbMJHUGXKFKØHDåWMXMEØFaHbVJè^HbKMHIDVYMEXGYMHîMJ^MJJXKè^VEWHbMJ SVFFMJWGFFMYMJYè^MKEVEWH_GEHíDFKLDHZVHØXMJKØDXMJHîEFMJí÷JäKWØMKFHDEWM^DXFMEé ïDYHEVEHbDYHåMDè^FXKè^MHÛGXGEKDXJMKè^HåMFJDäaHbDYHUGJFVWDXHíKbMJHDXXMHãJíDJFVEWHKEFDØFH÷åMJHbMEHÜíMKFMEHïMXFØJKMWH^KEíMWWMJMFFMFH^DFFMaHYG LDè^FMHYKè^HODXDZDJHGääMEåDJHbKMHæM_KYMHYMKEMJHãJåäMKEbMH_GLHêDVYMHNJDEKMEHZVHMKWMEõH\çMHLDKEFKMEbJDKðéHRLH[MWMEYDFZHZVHbMEH_GLHÛJKMW WMWMEHêKFXMJHVEbHbMEHPMEEGHWMåMVFMXFMEHãEWXëEbMJEaHíJDEZGYMEHVEbHìMXWKMJEaHbKMH_GEHóVëXMEbMEHÜíMKäMXEHVEbHYè^XMè^FMLH[MíKYYMEHWMIXDWF íVJbMEaHíMEEHKEHbMEHMKWMEMEHUDJXDLMEFMEHVEbH[DZMFFMEH_GEHbMJH[XMKè^^MKFHDXXMJHSMEYè^MEaHbMLHOMXåYFåMYFKLLVEWYJMè^FHbMJHîÚXØMJaHbMJ òMWKFKLKFëFHbMYHäDJåKWMEH]DFKGEDXKYLVYHbKMHTMbMHíDJaHåXKMåHä÷JHbMEH\ãYFDbGH]G_GðHbKMHÛGXGEKDX^MJJYè^DäFHMKEMHñJFH[GFFMYWEDbMEFVLé æKMH÷åMJYMMKYè^MEHìMYKFZVEWMEHíVJbMEHØVJZMJ^DEbHKEH\UJG_KEZMEðHVLWMFDVäFéHÜVWDEWHZVHOè^VXQHGbMJHîEK_MJYKFëFYåKXbVEWHíDJHåMYFMEäDXXY bMEHSVXDFFMEHVEbHSMYFKZMEH_GJåM^DXFMEéHæKMHÜD^XHbMJHYè^íDJZMEHGbMJHLMXDEMYKYè^MEH\ñYYKLKXDbGYðaHbKMH÷åMJH_GXXMHì÷JWMJJMè^FMH_MJä÷WFMEa íDJHDVäHMKEHSKEKLVLHåMYè^JëEØFéHæKMHSDYYMHbMJH\REbKWMEMYðHíVJbMEHDVäHñåYFDEbHZVJHDåMEbXëEbKYè^MEHÜK_KXKYDFKGEHVEbHYGWDJHZVL C^JKYFMEFVLHWM^DXFMEéHæKMHãKEWMåGJMEMEHKEHbMEHOFJG^^÷FFMEbÚJäMJEHGbMJHbMEHYFëbFKYè^MEHOXVLYHbMJH\SVèMóVMYðH_MJ^DJJFMEHKEHñJLVFHVEb RWEGJDEZéHãKEH^DXåMYHçD^JFDVYMEbHEDè^HîDYèGHbDH[DLDHVEbHñXåVóVMJóVMaHYGHåMäD^XHbMJHYFÚJJKYè^MHUJGäMYYGJHDVYHCGKLåJDaHYMKHòVYKFDEKME ØMKEMYíMWYHØGXGEKDXL÷bMéHOMXåYFHbKMH[MWEMJHODXDZDJYHYFDEbMEHKEHbKMYMLHUVEØFHåMKED^MHWMYè^XGYYMEH^KEFMJHbMYYMEHñäJKØDIGXKFKØé ãKEMEHMJYFMEHäX÷è^FKWMEHãKEbJVèØHYGXXFMHKè^HKLHOGLLMJHëìöøH_GEHbKMYMLHåKZDJJMEHOè^íMåMZVYFDEbHWMíKEEMEéHîGEHPGEØKEWHØGLLMEbaHíG bKMHíJDEZGYMEHLKFHØEDIIMJH]GFHbKMHäJKYè^DVäWMYFMXXFMEHOFVJLFJVIIMEHêGHPYè^KHSKE^YHKEHbMJHOè^XDè^FH_GEHîKE^HčMEHZVJ÷èØWMYè^XDWMEH^DFFMEa YVè^FMHKè^HbKMHIGJFVWKMYKYè^MHêDäMEYFDbFHSDèDGHDEHbMJHO÷bØ÷YFMHC^KEDYHDVäéHOMKFHëööćH^DFFMEHYKè^HbKMHòVYKFDEKMJHKEHbKMYMJHíKEZKWMEHãEØXD_MH_GE ä÷EäZM^EHúVDbJDFØKXGLMFMJEHäMYFWMYMFZFéHñXYHæJM^Yè^MKåMHä÷JHbMEHêDEbMXHLKFHbMLHTMKè^HbMJHSKFFMHVEbHLKFHçDIDEHåMYDêHbKMHYè^XëäJKWMHOKMbXVEW ^KYFGJKYè^MHìMbMVFVEWéHòDEWMHÜMKFHíDJHDVè^HbKMHîMJíDXFVEWH_GEHUGJFVWKMYKYè^QPKLGJHbMLHbGJFKWMEH[GV_MJEMVJHVEFMJYFMXXFé í÷Eä^VEbMJFHçD^JMHEDè^HbMJHØGXGEKDXMEHìMYKFZED^LMHLVFMFMHMYHYM^JHLMJØí÷JbKWHDEaHbDêHSDèDGHFJGFZHbMJHSDè^FMJWJMKäVEWHSDGHÜMbGEWY ZVEëè^YFH_GEHT÷èØWDåMäGJbMJVEWMEHbMJHîGXØYJMIVåXKØH_MJYè^GEFHåXKMåéHREZíKYè^MEH^DFFMHbKMHED^MHåJKFKYè^MHÛJGEØGXGEKMHêGEWØGEWHSDèDG
XëEWYFHbMEHTDEWHDXYHØGLLMJZKMXXMYHÜMEFJVLHVEbHåX÷^MEbMHSMFJGIGXMHDåWMXDVäMEHVEbHMYHZVHìMbMVFVEWYXGYKWØMKFH_MJVJFMKXFéHãKEHMKEZKWMY ZíMKäMX^DäFMYH[MíMJåMHäXGJKMJFMHbGJFHEGè^éHæDYH[X÷èØYYIKMXHíVJbMHKEH`MbMJHMJbMEØXKè^MEHíGJLHVEbHG^EMH`MbMHêMLLVEWHIJDØFKZKMJFHVEbHZGWHbKM ÜGèØMJHDVYHDXXMJHïMXFHDEéHSDèDGaHMEäMJHbVH`MVaHXDVFMFMHbMJHPKFMXHMKEMYHäJDEZÚYKYè^MEHTGLDEYaHGåíG^XHñHä÷JHbMEHÛMEEMJHbMYHíMJEMEHNYFMEYHñ C^GXGEaHbKMHJMKEHè^KEMYKYè^MHOè^íMYFMJYFDbFHODKWGEYHKEHREbGè^KEDaHMKEHíMKFH_MJJVè^FMJMJHODLLMXIVEØFHä÷JHTGVXMFFMaHSD^`GEWaHUGØMJHVEbH`MbM DEbMJMHíGJLH_GEHòDYFMJHíDJé íDYZKEKMJFH_MJ^DJJFMHKè^HëìöøH_GJHbMLHDXFMJF÷LXKè^MEHíMYFVEWYFGJaHVEFMJHbMYYMEHïÚXåVEWMEHYKè^HêDEbMXHVEbHïDEbMXHLKFHbMLHTGFMEHTMKè^ bMJHSKFFMH_GXXZGWéHñVäHIGJFVWKMYKYè^MJHOMKFMHYFDEbMEHJKMYKWMHIMè^Yè^íDJZMHñäJKØDEMJHDVYHñEWGXDHVEFMJHbMLHìMäM^XHMVJGIëKYè^MJHNääKZKMJM ïDè^MéHæDêHbKMHUJëYMEZHUGJFVWDXYH^KMJHEVJHEGè^HWMbVXbMFHVEbHbVJè^Hè^KEMYKYè^MHãKEäXVêED^LMHíMKFWM^MEbHDVYWM^Ú^XFHíDJaHWMYFDEbMEHbKM JMYKWEKMJFMEHÛGXGEKDXåMDLFMEHKEHK^JMEHYFKèØKWMEHì÷JGYHG^EMHîLYè^íMKäMHMKEéHïMEKWMHçD^JMHYIëFMJHYGXXFMEHêGJbMEH`VEWMJHTGFWDJbKYFMEHbMJ \[JGêMEHIJGXMFDJKYè^MEHÛVXFVJJM_GXVFKGEðH_GJ÷åMJWM^MEbHKEHSDèDGHMKEbJKEWMEéHñåMJHUMØKEWH^KMXFHYKè^HZVLKEbMYFHäGJLDXHDEHbKMHKEFMJEDFKGEDXME ñåØGLLMEaH_MJXMKåFMHSDèDGHMJYFHKLHçD^JHëìììHbMJHîGXØYJMIVåXKØHMKEHVEbHWMíë^JFMHbMLHíKEZKWMEHñJMDXHMKEMEHOGEbMJYFDFVYé æKMYMHOè^MKEDVFGEGLKMH^DFHMYHSDèDGHMJXDVåFaHbKMHYè^LVbbMXKWMEH[X÷èØYYIKMX^Ú^XMEH_GEHMKEYFHKEHXVðVJKÚYMHPMLIMXHbKMYMYHWMXb_MJEKè^FMEbME [MíMJåMYHDVYZVåDVMEéHîGJHDXXMLHYKEbHMYHbKMHEMVMEHè^KEMYKYè^MEHìVYKEMYYQPÙèGGEMHVEbHSKXXKGEëJMaHbKMH^KMJHDYFJGEGLKYè^MHOVLLMEHMKEYMFZME VEbHMKEMJHDXFDEWMYFDLLFMEHòMKbMEYè^DäFHbMJHêDEQTDYYMHäJÚEMEéHïKJØXKè^MEH]VFZMEHZKM^FHbDYHØGLLVEKYFKYè^MHTMWKLMHDVYHbMJHäKEDEZKMXXME OGEbMJJGXXMaHbKMHSDèDGHíMKFMJ^KEHMKEEKLLFéHôåMJHbKMYMEHîLYè^XDWIXDFZHíMJbMEHäKEDEZKMXXMHPJDEYDØFKGEMEHVEbH^MKLXKè^MHPMè^EGXGWKMFJDEYäMJY DåWMíKèØMXFaHbKMHYFJMEWYFMJHæKYØJMFKGEHåMb÷JäMEéH]Gè^HKLHçD^JHøÖÖïHØDLHMKEHOè^VXbMEDVYWXMKè^HZíKYè^MEHbMEHîOñHVEbHbMLH\Oè^VJØMEYFDDFð ]GJbØGJMDHDVäHbMLHîLíMWH÷åMJHbKMHìDEØMEH_GEHSDèDGHZVYFDEbMé
\ñEWGXDHÝHEGYYDð æKXKaHKLHSëJZHøÖÖ× \P^MHíKEbHGäHè^DEWMðaHíKMHbMJHåJKFKYè^MHUJMLKMJLKEKYFMJHSDèLKXXDEHYDWFMaH^DFHDLHãEbMHDVè^HbKMHôåMJYMMQUJG_KEZMEHUGJFVWDXYH^KEíMWWMäMWFé ìKYHZVLHñIJKXHëìćaHDXYGHZíDEZKWHçD^JMHXëEWMJHDXYHbKMH[DXXKMJHKEHREbGè^KEDaH^DåMEHbKMHòVYKFDEKMJHñHMJYFDJJFHKEHbMJHTGVFKEMHbMYH\ãYFDbGH]G_GðHñ YFVJHVEbH_MJåKYYMEHbVJè^WM^DXFMEéHRLHíMYFDäJKØDEKYè^MEHñEWGXDHíDJHbMJHñVäYFDEbHbMJHOè^íDJZMEH_GLHOFDLLHbMJHìDØGEWGHYè^GEHKLHçD^J ëìïëHDVYWMåJGè^MEaH^DFFMHYKè^HDEHbMEHåXVFKWMEHïKJJMEHKEHbMJHåMEDè^åDJFMEHJKMYKWMEHTMIVåXKØH_GEHòMGIGXb_KXXMaH^MVFMHÛKEY^DYDaHMEFZ÷EbMFéHæKM ìMXWKMJH^DFFMEHKLHÛGEWGH÷åMJYF÷JZFHbDYHêDEbFVè^HWMíGJäMEéHRLHO÷bGYFMEHbMYHYè^íDJZMEHãJbFMKXYHäGJLKMJFMEHYKè^HKEHSGYDLåKØHbKMHMJYFME ïKbMJYFDEbYWJVIIMEHbMJHLDJðKYFKYè^HGJKMEFKMJFMEHìMäJMKVEWYäJGEFHíJMXKLGé REHLMKEMJHbDLDXKWMEHãKWMEYè^DäFHDXYHTVEbäVEØQÛGJJMYIGEbMEFHbMJHñTæHä÷JHWDEZHñäJKØDHíDJHLKJHbKMHOKFVDFKGEHKEHbKMYMEHåMKbMEHíMKF WMbM^EFMEHTMWKGEMEH_MJFJDVFéHãYHíDJHZVH`MEMJHÜMKFHEKè^FHMKEäDè^aHMKEHîKYVLHä÷JHñEWGXDHZVHMJ^DXFMEéHREHbMEHZVYFëEbKWMEHSKEKYFMJKMEHòKYYDåGEY ^KEWMEHUXDØDFMHDEHbMEHïëEbMEaHbKMHbKMHYGWMEDEEFMEHôåMJYMMIJG_KEZMEHDVäHMKEMHÛDJFMHãVJGIDYHIJG`KZKMJFMEéHæDYHMJWDåHMKEMHòDEbLDYYMaHbKM YKè^H_GLHñFXDEFKØHåKYHFKMäHEDè^HTVêXDEbHMJYFJMèØFMéHæDJ÷åMJHYFDEbHbKMHìMFMVMJVEWõH\UGJFVWDXHKYFHØMKEHØXMKEMYHòDEbéð N^EMHbMEHìMYKFZH_GEHñEWGXDHVEbHSGYDLåKØaHYGH_MJØ÷EbMFMEHbKMHUJGIDWDEbKYFMEHODXDZDJYaHí÷JbMHUGJFVWDXHKEHbKMHTGXXMHMKEMYHDJLMEa Yè^Lëè^FKWMEHTDEbYFDDFMYHãVJGIDYH_MJíKMYMEéHN^EMHbKMHÛGXGEKMEHíëJMHYMKEMHïKJFYè^DäFHØDVLHXMåMEYäë^KWéH[KEWMEHbKMHôåMJYMMåMYKFZVEWME _MJXGJMEaHåXKMåMHDLHTDEbMHbMJHRåMJKYè^MEHêDXåKEYMXHEVJHMKEHäGXØXGJKYFKYè^MJHPVLLMXIXDFZHä÷JHPGVJKYFMEH÷åJKWaHíGHîKE^GHîMJbMHWMFJVEØMEHVEb íDbGHWMYVEWMEHí÷JbMéHSKFHFKMäMJHãJåKFFMJVEWHíVJbMHDLHPM`GHZVJHÛMEEFEKYHWMEGLLMEaHbDêHbDYHPMJJKFGJKVLH_GEH[GDaHbDYHäJ÷^MJMHìGXXíMJØHVEb çVíMXHUGJFVWDXYHDLHREbKYè^MEHNZMDEaHbVJè^HbMEHKEbKYè^MEHSKEKYFMJIJëYKbMEFMEHçDíD^DJXDXH]M^JVHLKXKFëJKYè^H÷åMJJVLIMXFHVEbHYMKEMJ YVåØGEFKEMEFDXMEHîEKGEHMKE_MJXMKåFHíVJbMé æKMHUGJFVWKMYMEHåJDVè^FMEHXDEWMaHVLHZVHåMWJMKäMEaHbDêHNXK_MKJDHbMHODXDZDJHYKMHKEHMKEH^GääEVEWYXGYMYHT÷èØZVWYWMäMè^FH_MJíKèØMXFH^DFFMéHRE bMJHUJMYYMHòKYYDåGEYHVEbHòVDEbDYHíDJH_GLHêMXbMELVFHbMJHOGXbDFMEHVEbHOKMbXMJHZVHXMYMEéHæKMHòMKFDJFKØXMJHYè^íMXWFMEHKEHMKEMLHIDFJKGFKYè^ME UDF^GYaHbDYH_MJWMåXKè^HDEHbMEHWMFJDWMEMEHOFKXHbMJH\òVYKDbMEðHDEZVØE÷IäMEHYVè^FMéHîLHbKMHñLMJKØDEMJHZVHåMMKEbJVèØMEaHíVJbMEHbMJ LDJðKYFKYè^QXMEKEKYFKYè^MHêKEFMJWJVEbHYGíKMHbKMHÛGLIXKZMEYè^DäFHbMJHOGí`MFVEKGEHLKFHbMEHYè^íDJZMEHTMåMXXMEHIJGIDWDEbKYFKYè^HDVäWMåDVYè^Fé æMJHWJMKYMHODXDZDJHíVJbMHëìï×HbVJè^HMKEMEHOè^XDWDEäDXXHWM^KEbMJFaHíMKFMJ^KEHbKMHOFDDFYä÷^JVEWHDVYZV÷åMEaHVEbHYFDJåHZíMKHçD^JMHYIëFMJé æDêHbMJHÛGXGEKDXØJKMWHYKè^HEGè^HåKYHëìćH^KEYè^XMIIFMaHKYFHbVJè^HbKMHIGXKFKYè^MHUDJDXÙYMHZVHMJØXëJMEaHbKMHYKè^HYGWDJHbMJHKEFMXXMØFVMXXMEHãXKFME åMLëè^FKWFH^DFFMéHãYHíDJMEHDLHãEbMHEVJHbKMHSKXKFëJYHbMJHñäJKØDQñJLMMHñHEDè^bMLHYKMHbJMKZM^EHçD^JMHXDEWHbKMHì÷JbMHMKEMYHDVYYKè^FYXGYME íMXbZVWMYHVEbHbKMHîMJåG^JF^MKFHMKEMYHLVLKäKZKMJFMEHTMWKLMYHDVäHK^JMEHOè^VXFMJEHWMFJDWMEH^DFFMEHñaHbKMHKLHñIJKXHëìćHbMJHPJDWÚbKMHMKEHãEbM YMFZFMEaHMKEMEHJDbKØDXMEHîLYFVJZHYGíKMHbMEHØGXGEKDXMEHîMJZKè^FHMJZíDEWMEéHæMJHUVFYè^HKYFHVEFMJHbMLH]DLMEH\]MXØMEJM_GXVFKGEðHKEHbKM ñEEDXMEHMKEWMWDEWMEéHæMEHÛMJEHbMYHñVäåMWM^JMEYHåKXbMFMHMKEMH[JVIIMHIJGWJMYYKYFKYè^HVEbHYGZKDXKYFKYè^HLGFK_KMJFMJHNääKZKMJMéHæDåMKHíKJØFMHMY IDJDbGðaHbDêHbMJHVXFJDØGEYMJ_DFK_MH[MEMJDXHbMHOIKEGXDaHbMJHKEHUGJFVWKMYKYè^Q[VKEMDHLKFHXKåMJDXMEHTMäGJLMEH_MJYVè^FH^DFFMaHbMLHYè^íDJZME ]DFKGEDXKYLVYHbMEHïKEbHDVYHbMEHOMWMXEHZVHEM^LMEaHYKè^HDXYHîDFMJäKWVJHVEbHíMKF^KEH_MJM^JFMYHOÙLåGXHbKMYMYHîLYFVJZMYHåMíë^JFMé ñVYH`MEMEHPDWMEHbMYHåMWMKYFMJFMEHPJVåMXYHDLHPM`GHåXMKåFHLKJHbKMHãJKEEMJVEWHDEHMKEHJM_GXVFKGEëJMYHSVYKèDXaHbDYHKè^HKLHñVWVYFHëìćHDL îGJDåMEbHLMKEMYHñåäXVWYHKEHbKMHåJGbMXEbMHDEWGXDEKYè^MHêDVIFYFDbFHòVDEbDHåMYVè^FH^DFFMéHñVäHbMJHì÷^EMHbMYH\PMDFJGHSDJKDHSDFGYðHåJDè^ DEFKØXMJKØDXMHòMKbMEYè^DäFHbVJè^aHDXYHMKEHìKYè^GäHKEHäMVMJJGFMLHNJEDFHLKFHbMJHçVEWäJDVH_GEHíDFKLDHKLHêKEFMJWJVEbHbDYHîGXØHZVLH[M^GJYDLH_GJ bMJHíMXFXKè^MEHVEbHØKJè^XKè^MEHêKMJDJè^KMHDVäJKMäõH[M^GJYDLHbMJHíJDVH_GJHbMLHSDEEaH[M^GJYDLHbMYHæKMEMJYH_GJHbMLHòG^E^MJJEaH[M^GJYDL bMYHOè^íDJZMEH_GJHbMLHïMKêMEéHãYHäGXWFMHMKEMHÜKJØVYYZMEMHKLHOFKXHíMXXKEKYõHMKEHDVäWMIVFYè^FMYHïMKåaHbDYHbKMHUYMVbG_MJäDYYVEWHEDè^HSDêWDåM bMYH\ãYFDbGH]G_GðHbDJYFMXXFMaHMKEHSMEYè^MEDääMaHbMJHLKFHbMJHíKYFMXYFKLLMHbMYH_MJYFGJåMEMEHæKØFDFGJYHODXDZDJHäJGLLMHUXDFKF÷bMEH_MJXDYaHbDY WMØEMè^FMFMHîGXØHDXYHFJDVJKWMHCXGíEYaHKLHêKEFMJWJVEbHbKMHíGXFMJØEMè^FMHbMJH[M^MKLIGXKZMKHUKbMé REHbMJHãEbYZMEMHíVJbMHbMJHÛJKMWHKEHñäJKØDHbDJWMYFMXXFéHãKEHÛGXGEKDXKYFHKEHÛ^DØK^MLbHVEbHPJGIME^MXLH_MJØ÷EbMFMõH\ñEWGXDHÝHEGYYDþðHãKEM OØXD_MEYFKLLMHMJXëVFMJFMaHbDêHbKMHìGbMEYè^ëFZMHbMJHIGJFVWKMYKYè^MEHÛGXGEKMEHXëEWYFHKEFMJEDFKGEDXMEHSGEGIGXMEH_MJIäëEbMFHYMKMEéHæGè^HbMJ ÛGXGEKDXKYFHIJGØXDLKMJFMHíMKFMJõH\UGJFVWDXHE GHYMH_MEbMðHñHUGJFVWDXHíKJbHEKè^FHDVY_MJØDVäFéHãKEH`VEWMJHIGJFVWKMYKYè^MJHTMØJVFHåMWMWEMFMHbML ñVäYFDEbHbMJHOè^íDJZMEéHãJHLë^FMHMKEMH[JVIIMH_GEHíJMK^MKFYØëLIäMJEHLKFHYMKEMJHSDYè^KEMEIKYFGXMHEKMbMJéHñåMJHbDHYFDEbMEHKLLMJHEMVM DäJKØDEKYè^MH]DFKGEDXKYFMEHDVäaHVEbHbMJHíMKêMHOGXbDFHäKMXHDXYHYKEEXGYMYHNIäMJéHRLHíKEDXMHYDEWMEHOè^DVYIKMXMJHVEbHÜVYè^DVMJHKEHåMWMKYFMJFML
C^GJH_MJMKEFHbMEHVFGIKYè^MEHîMJYaHbMJHLKJHåMJMKFYHDVYHbMLHC^KXMHODX_DbGJHñXXMEQbMYH_MJFJDVFHíDJõH\NHIG_GHVEKbGH`DLDKYHYMJĎH_MEèKbGðHñHãKE WMMKEFMYHîGXØHíKJbHEKMLDXYHåMYKMWFHíMJbMEéHãKEHÛKEbHFJDFHEDè^H_GJEHLKFHbMJHJGFMEH]MXØMHbMJHíJMK^MKFHKEHbMJHêDEbHVEbHYFMèØFMHbKMHìXVLMHKEHbKM S÷EbVEWHMKEMYH[MíM^JXDVäYé [DEZHUGJFVWDXHåMíMWFMHYKè^HKEHMKEMLHJGLDEFKYè^MEHPDVLMXé
ñVäYFDEbHbMJHOMLKEDJKYFME
ñVäHNYFQPKLGJH^DFFMHíë^JMEbHbMJHóVDX_GXXMEHçD^JMHbMJHDäJKØDEKYè^MEHTMåMXXKGEHWMWMEHbKMHIGJFVWKMYKYè^MHêMJJYè^DäFHJMXDFK_MHTV^MHWM^MJJYè^Fé ãYHíDJHEKè^FHbKMHTV^MHbMYHíJKMb^GäYaHYGEbMJEHMKEHÜVYFDEbHbMJHòMF^DJWKMHVEbHbMJHTMYKWEDFKGEéHãYHåMYFDEbMEHWMíKêHEDFKGEDXKYFKYè^MHíMJLMEFM bMJHñVäXM^EVEWaHDåMJHbKMHåMYè^JëEØFMEHYKè^HKLHíMYMEFXKè^MEHDVäHbKMHSMYFKZMEHVEbHbKMHWMJKEWMHñEZD^XH_GEHXGØDXMEH\ñYYKLKXDbGYðaHbKMHÜVWDEW ZVLHMVJGIëKYè^MEHìKXbVEWYYÙYFMLHåMYDêMEéHïDYHEVEHbKMHîEFMJbJ÷èØVEWHbMJHSMKEVEWYäJMK^MKFHåMFJDäaHYGHDJWVLMEFKMJFMEHbKMHíMKêME NIIGYKFKGEMXXMEõH\ïMEEHYMXåYFHVEYHWMå÷JFKWMEHUGJFVWKMYMEH`MbMHIGXKFKYè^MHòKåMJFëFHbVJè^HODXDZDJHVEbHYMKEMEH]Dè^XDê_MJíDXFMJHCDMFDEGH_MJYDWF åXMKåFaHíDJVLHYGXXMEHbDEEHbKMHãKEWMåGJMEMEHVEYMJMJHÛGXGEKMEHåMYYMJHWMYFMXXFHYMKEĊð ãYHåJGbMXFMHDXXMEäDXXYHåMKH`MEMEH`VEWMEHPKLGJMYMEaHbMJMEHWM^GåMEMHñVYåKXbVEWHDVäHbMEHìMYVè^H_GEHUJKMYFMJYMLKEDJMEHVEbHÛXGYFMJYè^VXME åMYè^JëEØFHåXKMåéHîEFMJHbKMYMEHDEWM^MEbMEHÛXMJKØMJEHäDEbMEHbKMHXDFMKEDLMJKØDEKYè^MEHP^MYMEHbMJHìMäJMKVEWYF^MGXGWKMHYFDJØMEHñEØXDEWéHæKM îMJMKEåDJØMKFH_GEHC^JKYFMEFVLHVEbHOGZKDXKYLVYHíVJbMHXMå^DäFHåMä÷JíGJFMFéHREHDXXMJHêMKLXKè^ØMKFHåKXbMFMHYKè^HMKEMHîEFMJWJVEbGJWDEKYDFKGEaHbKM VEFMJHbMLHODLLMXEDLMEH\íTãPRòR]HñHíJMEFMHJM_GXVèKGEĎJKDHbMHPKLGJQòMYFMHKEbMIMEbMEFMðHñHíDè^YMEbMEHÜVXDVäHWMíDEEéHãKEHWMíDXFYDLMJ UDJFKYDEMEØDLIäHíVJbMHDVYHZíKEWMEbMEH[J÷EbMEHEKè^FHMKEWMXMKFMFé ïë^JMEbHPKLGJQòMYFMHEëLXKè^HíMKFMJ^KEHKEHYMKEMJHXVYKFDEKYè^MEHT÷èØYFëEbKWØMKFHbD^KEbëLLMJFMaH^DFFMEHYKè^HKLHîLØJMKYHbKMYMJHíKEZKWME REYMX^ëXäFMHWMíDXFKWMHîMJëEbMJVEWMEH_GXXZGWMEéHæKMHTMIVåXKØHREbGEMYKMEHíDJHZVHMKEMLHåMDè^FXKè^MEHSDè^FäDØFGJHbMJHæJKFFMEHïMXFHDVäWMYFKMWMEé REEMJ^DXåHbKMYMYHíMKFMEHñJè^KIMXYHñHZVLDXHDVäHçD_DHñH_MJä÷WFMHbMJHRYXDLH÷åMJHMKEMHMJbJ÷èØMEbMHîGJJDEWYFMXXVEWéHñVäHbMEHSGXVØØMEHíVJbMHbMJ ïKbMJYFDEbHbMJHbGJFHXMåMEbMEHC^JKYFMEHbVJè^HbKMHOGXbDFMEHçDØDJFDYHLKFH^DJFMJHêDEbHEKMbMJWMYè^XDWMEé ù æMJHYIëFØGXGEKDXMHOFDFVYHDVäHPKLGJQòMYFMHMEbMFMHDåJVIFéHæKMHOKFVDFKGEH_MJëEbMJFMHYKè^HJDbKØDXaHDXYHKLHñIJKXHëìćHbKMH]MXØMEJM_GXVFKGEHbMJ IGJFVWKMYKYè^MEHNääKZKMJMHDXXMHØGXGEKDXMEHñEYIJ÷è^MH_GLHPKYè^HäMWFMHVEbHbKMHôåMJYMMIJG_KEZMEaHbKMHDVäHbKMYMHíJMK^MKFYWMíë^JVEWHWDJHEKè^F _GJåMJMKFMFHíDJMEaHKEHMKEMHè^DGFKYè^MHîEDå^ëEWKWØMKFHMEFXKMêéHREHæKXKaHë^EXKè^HíKMHKLHDäJKØDEKYè^MEHòVDEbDaHåJDè^HMKEHLÚJbMJKYè^MJHì÷JWMJØJKMW DVYéHÜíMKHUDJFMKMEHYFDEbMEHYKè^HWMWME÷åMJõHæKMHåMJMKFYHMJíë^EFMHìMäJMKVEWYäJGEFHíTãPRòR]aHbKMHXKEØYHVEbHYGZKDXKYFKYè^HDVYWMJKè^FMFHíDJaHVEb MKEMH\æMLGØJDFKYè^MHîEKGEðaHbKMHYKè^H÷åMJíKMWMEbHDVäHYè^íMJHbVJè^Yè^DVåDJMHOFDLLMYYFJVØFVJMEHYF÷FZFMé æKMHåMYYMJHGJWDEKYKMJFMHíTãPRòR]HVEFMJHí÷^JVEWH_GEHSMYFKZMEHVEbHMKEMJHñEZD^XHØDF^GXKYè^MJHÛXMJKØMJHWMíDEEHYM^JHåDXbHbKMHNåMJ^DEbHVEb IJGØXDLKMJFMHDLHø×éH]G_MLåMJHëìćöHbKMHîEDå^ëEWKWØMKFH_GEHPKLGJQòMYFMéHæGè^HbKMH\REbMIMEbMEFKYFDYðH^DFFMEHbKMHTMè^EVEWHG^EMHbME åMbJG^XKè^MEHKEbGEMYKYè^MEH]Dè^åDJEHWMLDè^FéH[MEMJDXHOV^DJFGHíDJHEKè^FHWMíKXXFaHYKè^HbKMYMHXMKè^FMHìMVFMHMEFWM^MEHZVHXDYYMEéHOè^GEHEMVE PDWMHEDè^HbMJHñVYJVäVEWHbMJH`VEWMEHTMIVåXKØHYIJDEWMEHKEbGEMYKYè^MHíDXXYè^KJL`ëWMJH÷åMJHæKXKHDåéHR^EMEHYGXXFMEHOGXbDFMEHMKEMJHKEHìMJMKFYè^DäF YFM^MEbMEHRE_DYKGEYDJLMMHäGXWMEéHæKMHìM^ÚJbMEHREbGEMYKMEYHDEEMØFKMJFMEHPKLGJQòMYFMHDXYHK^JMHøćéHUJG_KEZé ïGLKFHEKMLDEbHWMJMè^EMFH^DFFMõHæKMHEMVMEHìMYDFZMJHYFKMêMEHDVäH^MäFKWMEHïKbMJYFDEbaHGåíG^XHYKMHYè^GEHDLHMJYFMEHPDWHK^JMJHòDEbVEW ZíMKFDVYMEbH_MJLMKEFXKè^MHïKbMJYFDEbYØëLIäMJHZVJHOFJMèØMHåJDè^FMEéHæKMHNYFQPKLGJMYMEHYGXXFMEHYKè^HKEHbMEHØGLLMEbMEHçD^JMEHDXYHZë^Ma WMä÷Jè^FMFMH[VMJKXXMJGYHåMíë^JMEaHbMJMEHôåMJäëXXMHVEbH[MWMEDEWJKääMHMJYFHEDè^HbMJHãJGåMJVEWHK^JMJHêGè^åVJWHKLHSDFMåKDEQSDYYK_aHbDYHbKM êÚ^MH_GEHø÷ÖÖHSMFMJHMJØXKLLFaHJMbVZKMJFaHDåMJHEKMLDXYHWDEZHåMMEbMFHíVJbMEéHæKMYMJHUDJFKYDEMEØDLIäaHbMJHbMEHLGbMJEMEHìMWJKää \DYÙLLMFJKèHíDJðH_GJíMWED^LaHíDJHVLHYGHåMLMJØMEYíMJFMJaHDXYHbKMHÛDLIäWJVIIMH\íDXDEFKXðHñHYGHEDEEFMHYKè^HbKMHIDJDLKXKFëJKYè^M NJWDEKYDFKGEHbMJHíTãPRòR]HñHEKè^FHbKMHWMJKEWYFMHîEFMJYF÷FZVEWH_GEHDVêMEHMJ^KMXFHVEbH÷åMJHMKEHØ÷LLMJXKè^MYHïDääMEDJYMEDXH_MJä÷WFMé æKMHTMIJMYYKGEHbMJHKEbGEMYKYè^MEHNØØVIDEFMEHíDJHVEMJåKFFXKè^éHãFíDHëÖÖHÖÖÖHSMEYè^MEHØDLMEHåMKHbMEH[MäMè^FMEHVEbHLM^JHEGè^HåMKHbME DEYè^XKMêMEbMEHOFJDäDØFKGEMEHVLéHîKMXMHYFDJåMEHDEHêVEWMJaHEDè^bMLHbKMHTMåMXXKGEHbVJè^HLDYYK_MHîLYKMbXVEWHbMJHìM_ÚXØMJVEWHVEFMJ ÛGEFJGXXMHWMåJDè^FHíMJbMEHYGXXFMéHïKMHbKMYMHFJëWMEaHDIDF^KYè^HíKJØMEbMEHPKLGJMYMEHYKè^HDXYHVEMJL÷bXKè^MaHFGXXØ÷^EMHREYVJWMEFMEHMEFIVIIFMEa bKMHbKMHPGIGWJDI^KMHK^JMJHZMJØX÷äFMFMEHREYMXHLMKYFMJ^DäFHZVHEVFZMEH_MJYFDEbMEaHØDLHMKEMLHïVEbMJHWXMKè^é ïDYHKYFHDEHbMLH^GääEVEWYXGYMEHVEbHbMEEGè^H^MJGKYè^MEHñVäYFDEbHYGHåMLMJØMEYíMJFĊHïDYHØ÷LLMJFHbKMHäMJEMEHãVJGIëMJHYè^GEHbKMYMJHFJKYFM ãIKXGWHMKEMJH_MJäM^XFMEHXVYKFDEKYè^MEHïMXFMðIDEYKGEĊHæKMHPJDWÚbKMHNYFQPKLGJYaHYGHíKYYMEHíKJH^MVFMaHYIKMXFMHYKè^H_GJHbMLHêKEFMJWJVEbHbMJ WXGåDXMEHÛGEäJGEFDFKGEHZíKYè^MEHNYFHVEbHïMYFHDåéHæMJH]G_MLåMJHëìćöHíDJHbMEØåDJHYè^XMè^FHWMMKWEMFHä÷JHbKMH[J÷EbVEWHMKEMYHEMVME ÛXMKEYFDDFMYaHbMJHYKè^HVEíMKWMJXKè^HñHíKMHbKMHIGJFVWKMYKYè^MEHìMYKFZVEWMEHSGYDLåKØaHñEWGXDHVEbHìKYYDVHñHKEHTKè^FVEWHDVäHMKEMHLDJðKYFKYè^ GJKMEFKMJFMHîGXØYbMLGØJDFKMHMEFíKèØMXEHí÷JbMé æKMHîMJMKEKWFMEHOFDDFMEH_GEHñLMJKØDH^DFFMEHíMEKWMHSGEDFMHZV_GJHVEFMJHYè^Lë^XKè^MEHîLYFëEbMEHK^JMHY÷b_KMFEDLMYKYè^MEHîMJå÷EbMFME bMLHVEíKbMJYFM^XKè^MEHîGJLDJYè^HbMJHãJåMEHêGHPYè^KHSKE^YHIJMKYWMWMåMEHVEbHODKWGEHäXVè^FDJFKWH_MJXDYYMEéH]VEHWDXFHMYHä÷JHïDY^KEWFGEa MKEMEHZVYëFZXKè^MEH[MXëEbMWMíKEEHbMJHJK_DXKYKMJMEbMEHJGFMEH[JGêLëè^FMHOGí`MFVEKGEHVEbHC^KEDHLKFHDXXMEHSKFFMXEHZVH_MJ^KEbMJEéHæKM ìMä÷Jè^FVEWHØDLHDVäaHKEHæKXKHØÚEEMHMKEMHñJFHY÷bGYFDYKDFKYè^MYHÛVåDHMEFYFM^MEéHæMJHVELKFFMXåDJMH]Dè^åDJHñVYFJDXKMEaHbMJHEGè^HKEHbMJ FJDVLDFKYè^MEHãJKEEMJVEWHDEHbDYHîGJbJKEWMEHbMJHçDIDEMJHDVäHYMKEMHEÚJbXKè^MHêDäMEYFDbFHæDJíKEHXMåFMaHåDEWFMHVLHYMKEMHOKè^MJ^MKFéHRE CDEåMJJDHíDJHLDEHKEHØMKEMJHïMKYMHåMJMKFaHbMJHïMXFJM_GXVFKGEHMKEHOIJVEWåJMFFHZVH÷åMJXDYYMEaHbDYHYKè^HíMKFHKEHbDYHYFJDFMWKYè^MH[XDèKYHbMY í÷EäFMEHÛGEFKEMEFYH_GJYè^Gåé æKMHæGØVLMEFMHXKMWMEH^MVFMH_GJaHbKMHMKEbMVFKWHåMíMKYMEaHbDêHêMEJÙHÛKYYKEWMJaHbMJHDXYHOMèJMFDJÙHGäHOFDFMHbMYHUJëYKbMEFMEH[MJDXbHíGJbHbKM ñVêMEIGXKFKØHbMJHîOñHXMEØFMaHbDYHãEFYFM^MEHMKEMYHZVYëFZXKè^MEHíMKEbYFDDFMYHKEHREYVXKEbMHEKè^FHFGXMJKMJMEHíGXXFMéHUJëYKbMEFHOV^DJFGHíVJbMH_GE ñLMJKØDHWMJDbMZVHMJLVFKWFaHLKFHWMåDXXFMJHÛJDäFHZVHKEFMJ_MEKMJMEHVEbHbMLHJM_GXVFKGEëJMEHOIVØH_GEHæKXKHMKEHãEbMHZVHåMJMKFMEéHNääKZKMXXHíVJbM ZíDJHbDYHîGJWM^MEHbMJHKEbGEMYKYè^MEHOFJMKFØJëäFMHWMWMEHPKLGJQòMYFMHKEHïDY^KEWFGEHVEbHCDEåMJJDH\åMbDVMJFðaHKEHïKJØXKè^ØMKFH^DFFMHÛKYYKEWMJ
WJ÷EMYHòKè^FHMJFMKXFHVEFMJHbMJH^MVè^XMJKYè^MEHîGJDVYYMFZVEWaHbDêHbKMHNØØVIDFKGEH\MääKZKMEFaHZ÷WKWHVEbHG^EMHãKEYDFZHDLMJKØDEKYè^MJHïDääMEð YFDFFäëEbMéHOMXåYFHDEHbKMYMHTMYFJKØFKGEH^DFHYKè^HbDYHUMEFDWGEHEKè^FHWM^DXFMEéHñXYHbKMHÛDLIäFDVWXKè^ØMKFHbMJHíTãPRòR]QUDJFKYDEMEHDXXM ãJíDJFVEWMEH÷åMJFJDäaHíVJbMHbKMHKEbGEMYKYè^MHñØFKGEYäë^KWØMKFHbVJè^HòKMäMJVEWH_GEHÛDLIäåGLåMJEH_GLHPÙIH\ìJGEèGðHZVYëFZXKè^H_MJYFëJØFé REHbMEHZM^EHPDWMEHbMYHØVJZXMåKWMEHîEDå^ëEWKWØMKFYJDVYè^MYHIJGäKXKMJFMEHYKè^HKEHbMEHí÷^JVEWYWJMLKMEHbMJHTMIVåXKØHPKLGJQòMYFMHåMJMKFY MKE^MKLKYè^MHUMJYÚEXKè^ØMKFMEaHbKMHbDYHIGXKFKYè^MHòMåMEHKEHæKXKHåKYHDVäHbMEH^MVFKWMEHPDWHåMMKEäXVYYMEéHôåMJJDWMEbHXMåFHbKMHíKWVJH]KèGXDV òGåDFGYHKLH[Mbëè^FEKYHYMKEMJHòDEbYXMVFMHäGJFaHbMJHMKEHIDDJHPDWMHXDEWHDXYHMJYFMJHTMWKMJVEWYè^MäHäVEWKMJFH^DFFMHVEbHbMEHåMíDääEMFMEHïKbMJYFDEb _GEHíDXDEFKXHLKFHMJYFDVEXKè^MJHLKXKFëJKYè^MJHìMWDåVEWHØGGJbKEKMJFH^DFFMéHRLHæMZMLåMJHëìć×HäDEbHMJHKLHÛDLIäHWMWMEHbKMHRE_DYGJMEHbMEHPGbé æKMYMJH]DFKGEDX^MXbHíDJHMKEHSMYFKòGHíKMHäDYFHDXXMHñEWM^ÚJKWMEHbMJH`MFZKWMEHí÷^JVEWYJKMWMHVEbHWM^ÚJFMH`MEMJHØXMKEMEHOè^Kè^FH_GEHUJK_KXMWKMJFME DEaHbMEMEHbKMHUGJFVWKMYMEHÜVWDEWHZVHbMLHbVJè^HbMEH\ãYFDbGH]G_GðHåMWJMEZFMEHìKXbVEWYíMWHWMYFDFFMFMEé êMJDVYJDWMEbaHDåMJHEKè^FHVEVLYFJKFFMEHKYFHbKMHíKWVJHbMYH^MVFKWMEHOFDDFYIJëYKbMEFMEHçGYÝHTDLGYQêGJFDéHOè^GEHZVJHÜMKFHbMJHIGJFVWKMYKYè^ME ÛGXGEKDXIJëYMEZHíDJHbMJHçGVJEDXKYFHêGJFDHDXYHIGXKFKYè^MJHñVäJ÷^JMJHZVHZíMK`ë^JKWMJHîMJåDEEVEWHEDè^HSGYDLåKØH_MJVJFMKXFHíGJbMEéHñXYHbKM REbGEMYKMJHæKXKHåMYMFZFMEaHåMäDEbHMJHYKè^HWMJDbMHDVäHbMJHTMKYMHEDè^H]MíHčGJØaHVLH_GJHbMJHî]NHbMEHîEDå^ëEWKWØMKFYDEYIJVè^HYMKEMJHêMKLDF ZVH_MJäMè^FMEéH[MWMEHãEbMHYMKEMYHXDEWMEHãðKXYHVEbHMKEMYHVEMJL÷bXKè^MEHïMJåMEYHä÷JHbKMH\REbMIMEbČEèKDðHíVJbMHMJHKLHçD^JHëììïHWMLMKEYDL LKFHbMLHØDF^GXKYè^MEHìKYè^GäH_GEHæKXKaHCDJXGYHìMXGaHbMJHDVäWJVEbHYMKEMJHWMKYFXKè^MEHUJëJGWDFK_MEHDVäHbMJHREYMXHDVY^DJJMEHVEbHYKè^Hä÷JHbKM ñEXKMWMEHYMKEMJHòDEbYXMVFMHMKEYMFZMEHØGEEFMaHLKFHbMLHíJKMbMEYEGåMXIJMKYHDVYWMZMKè^EMFé ÜVHMJíë^EMEHíëJMH_GJHDXXMLHbMJHZVJHOFVEbMHDLFKMJMEbMHSKEKYFMJIJëYKbMEFHĈDEDEDH[VZL GaHOG^EHMKEMYHIGJFVWKMYKYè^MEHòM^JMJYaHM^MLDXKWMJ çMYVKFMEZÚWXKEWaHbMJHbMJHìMJVäVEWHZVLHUJKMYFMJDLFHMEFYDWFMaHVLHbJMKHçD^JMHXDEWHKEHbMJHIGJFVWKMYKYè^MEHñJLMMHZVHbKMEMEéHæGJFHMJíDJåHMJHíG^X bKMHLKXKFëJKYè^MHUJDðKYaHbKMHK^LHEDè^HbMLHPGbHòGåDFGYHMJXDVåFMaHbMEHìVYè^ØJKMWHMJäGXWJMKè^HäGJFZVYMFZMEHVEbHZVHKEFMEYK_KMJMEéHëììøHWMJKMFHMJHKE [MäDEWMEYè^DäFHVEbHbVJäFMHMJYFHYKMåMEHçD^JMHYIëFMJHDVYHMKEMJH`D_DEKYè^MEHêDäFDEYFDXFHEDè^HæKXKHZVJ÷èØØM^JMEé REHbKMYMJHVE_GXXYFëEbKWMEHñVäXKYFVEWHLVêH_GJHDXXMLHbMJHYè^KXXMJEbMHREFMXXMØFVMXXMHSDJKHñXØDFKJKHWMí÷JbKWFHíMJbMEéHãJHíDJH]Dè^äD^JMHMKEMJ DJDåKYè^MEHêëEbXMJäDLKXKMHDVYHbMLH`MLMEKFKYè^MEHêDbJDLDVFéHREHbMJHäDYFHDVYYè^XKMêXKè^Hè^JKYFXKè^MEHîLWMåVEWHNYFQPKLGJYHWMXDEWHMYHbML SVYXKLHñXØDFKJKaHKEHbMJHåJMKFMEHOFJÚLVEWHEDFKGEDXKYFKYè^MEHñVäåMWM^JMEYHíVêHZVHäDYYMEHVEbHYKè^HDXYHKbMGXGWKYè^MJHîGJbMEØMJHbMJ ìMäJMKVEWYäJGEFHíTãPRòR]HZVHIJGäKXKMJMEé RLHOè^KèØYDXY`D^JHëìćöaHDLHPDWHbMYHKEbGEMYKYè^MEHôåMJäDXXYaHíDJHñXØDFKJKHLKFHØEDIIMJH]GFHEDè^HSGYDLåKØHMEFØGLLMEéHREHbKMYMJHDVä SGYØDVHDVYWMJKè^FMFMEHîGXØYJMIVåXKØH_GEHSDIVFGHåM^DVIFMFMHMJHYKè^HYGHØGEYMóVMEFHDXYHVEMJL÷bXKè^MJHREYIKJDFGJHbMJ îEDå^ëEWKWØMKFYåMíMWVEWaHbDêHMJHEDè^Høö`ë^JKWMJHñåíMYME^MKFHVEbHEDè^bMLHbKMHREbGEMYKMJHbDYHíMXbH^DFFMEHJëVLMEHL÷YYMEaHZVLHC^MäHbMJ MJYFMEHíKJØXKè^MEHîEDå^ëEWKWØMKFYJMWKMJVEWH_GEHæKXKHåMJVäMEHíVJbMéHOMKEMHñLFYMEF^MåVEWaHbKMHVEFMJHbVåKGYMEHîLYFëEbMEHYFDFFäDEbaHXKMêHEKè^F XDEWMHDVäHYKè^HíDJFMEéHæKMYMJHVLFJKMåKWMHñJDåMJaHbMLHOÙLIDF^KMEHä÷JHbKMHîGXØYJMIVåXKØHC^KEDHEDè^WMYDWFHíVJbMEaHíDJHbMEHñVYFJDXKMJEHVEb bMEHñLMJKØDEMJEaHbKMHEDè^HbMLHñåZVWHbMJHKEbGEMYKYè^MEHñJLMMHKLHçD^JHëìììHKEHæKXKHbKMHíKJØXKè^MEHãEFYè^MKbVEWMEHFJDäMEaHZVFKMäYFHYVYIMØFé
æDYHãJbÚXHWDåHbMEHñVYYè^XDW ìDVèDVaHKLHSëJZHøÖÖ× æMJHíD^JMJHçGJWMHKYFHMKEHëXFMJMJHêMJJHLKFHWJDVMLHÛJDVY^DDJHVEbHFKMäåJDVEMJHêDVFéHREH`VEWMEHçD^JMEH^DFFMHMJHDXYHåMYè^MKbMEMJHçVYFKZDEWMYFMXXFMJ WMDJåMKFMFaHDåMJHVEFMJHbMEH`MFZKWMEHîLYFëEbMEHKYFHMYHDVäHNYFQPKLGJHíMKFHXVØJDFK_MJaHYKè^HDXYHC^DVääMVJHåMKHDVYXëEbKYè^MEHêKXäYGJWDEKYDFKGEMEHZV _MJbKEWMEéHæKMHOFJMèØMHEDè^HìDVèDVaHEMåMEHæKXKHbKMHíKè^FKWYFMHNJFYè^DäFaHXMWMEHíKJHWMLëè^XKè^HKEHbJMKHOFVEbMEHZVJ÷èØéHRè^HíVEbMJMHLKè^H÷åMJ bMEHWVFMEHÜVYFDEbHbMJHWMíVEbMEMEHñYI^DXFYFJDêMHVEbHbKMHíMKFHWMYIDEEFMEHìJ÷èØMEaHbKMHZVHbMLHUXDFMDVH_GEHìDVèDVHKEHMFíDHbJMK^VEbMJF SMFMJHêÚ^MHä÷^JMEéHæKMHYMKMEHXMKbMJHEKè^FH_GEHbMEHUGJFVWKMYMEH^KEFMJXDYYMEHíGJbMEaHåMXM^JFHLKè^HçGJWMéHSKFHOFGXZHMJZë^XFHMJHLKJHDVäHãEWXKYè^a bDêHMJHZVHbMEHZM^EHUJGZMEFHPKLGJMYMEHWM^ÚJFaHbKMHYKè^HKLLMJHEGè^HKEHbMJHOIJDè^MHbMYHæKè^FMJYHCDLöMYHDVYbJ÷èØMEéHñVè^HbKMHEMVMaHZíMKFM ñLFYYIJDè^MHPMFVLHåM^MJJYè^FHMJHEDF÷JXKè^aHíKMHbKMHLMKYFMEHYMKEMJHòDEbYXMVFMaHGåíG^XHMYHLKFHbMJH]KMbMJYè^JKäFHbKMYMYHæKDXMØFYH^DIMJFéHæKM REbGEMYKMJH^ëFFMEHKEHbMLHîKMJFMX`D^J^VEbMJFHK^JMJHUJëYMEZHëøÖÖHÛKXGLMFMJHOFJDêMEHWMåDVFaHVLHbMLHñVäYFDEbHbMJHíTãPRòR]HåMYYMJ åMKØGLLMEHZVHØÚEEMEé çGJWMHJëVLFHMKEaHbDêHbKMHUGJFVWKMYMEHEVJHöëöHOè^VXMEH^KEFMJXDYYMEH^DFFMEaHbKMHãJGåMJMJHDVYHçD_DH^KEWMWMEH×ëöéHæGJFHYMKHDXXMJbKEWY DVYYè^XKMêXKè^HKEHìD^DYDHREbGEMYKDHVEFMJJKè^FMFHíGJbMEaHbMLHXMKè^FHZVHMJXMJEMEbMEH]DFKGEDXKbKGLHbMJHTMIVåXKØH_GEHçDØDJFDéH]MVMJbKEWYHYMK `MbGè^HDVäWJVEbHbMYHDVYFJDXKYè^MEHôåMJWMíKè^FYHVEbHbMJH_KMXäëXFKWMEHî]NQUJëYMEZHbDYHãEWXKYè^MHVEDVä^DXFYDLHDVäHbMLHîGJLDJYè^éHOGHVEWMJE bKMHPKLGJMYMEHbDYHDVè^HMKEWMYFM^MEaHVEFMJHbMLHåJVFDXMEHSKXKFëJJMWKLMHbMYH[MEMJDXHOV^DJFGHYMKHbMJHòMåMEYYFDEbDJbHbMJ æVJè^Yè^EKFFYåM_ÚXØMJVEWHMJ^MåXKè^HDEWM^GåMEHíGJbMEéHñVè^HbDYHØXëWXKè^MH[MYVEb^MKFYYÙYFMLH^DåMHYKè^HbDLDXYH_MJåMYYMJFé ÜVHTMè^FHYMKHDVäHbMEH÷åJKWMEHREYMXEHìMYè^íMJbMHbDJ÷åMJHWMä÷^JFHíGJbMEaHbDêHbKMHYFDDFXKè^MEHñVYWDåMEHKEHPKLGJQòMYFMHIJGHÛGIäHbMJ ìM_ÚXØMJVEWH^Ú^MJHWMXMWMEH^DåMEHDXYHKEHDXXMEHDEbMJMEHòDEbMYFMKXMEéHïDYHLDEHbMEHNØØVIDEFMEH÷åMJ^DVIFHEKè^FH_MJZMK^MEHØGEEFMaHíDJHK^J DJJGWDEFMYaHDVFGJKFëJMYHñVäFJMFMEHDXYHJDYYKYè^H÷åMJXMWMEMHSDXDKMEéHÜVbMLH^ëFFMEHbKMHìMDLFMEHDVYHçDØDJFDHbKMHìDVMJEHVEbHUëè^FMJHWMZíVEWMEa K^JMHíMXbMJaHbKMHíMKFWM^MEbHåJDè^XDWMEaHKEFMEYK_HZVHåMåDVMEaHVEbHMKEMHYGXè^MHæKYZKIXKEKMJVEWHbVJè^HñJåMKFHMEFYIJDè^HíG^XHEKè^FHbML DVäYëYYKWMEHVEbHFJëWMEHOFDLLMYFMLIMJDLMEFHbMJHLMKYFMEHNYFQPKLGJMYMEé æDYHëóVDFGJKDXMHSMMJHXMVè^FMFHKEHYFJD^XMEbMLHìXDVaHDåMJHbMJHæYè^VEWMXaHbMJHVEWMDè^FMFHJ÷èØYKè^FYXGYMJHìJDEbJGbVEWHKEHbKMYMLH^MKêQ äMVè^FMEHÛXKLDHYGäGJFHíKMbMJHDXYHVEbVJè^bJKEWXKè^MYHæKèØKè^FH^Gè^Yè^KMêFaHíKJØFHb÷YFMJHVEbHåMbJG^XKè^éHæKMHOFJMèØMaHbKMHíKJHåMäD^JMEaHWDXFHZVJ ÜMKFHbMJHìMYDFZVEWHDXYHVEMEFåM^JXKè^MJHîMJåKEbVEWYYFJDEWHEDè^HNYFMEéHæKMHKEbGEMYKYè^MEHSKXKFëJØGE_GKYHåMíMWFMEHYKè^H^KMJHLKF êÚè^YFWMYè^íKEbKWØMKFaHíMKXHYFMFYHLKFHMKEMLHêKEFMJ^DXFHbMJHíJMKYè^ëJXMJHWMJMè^EMFHíMJbMEHLVêFMéHæKMHLMKYFMEHæÚJäMJHíVJbMEH_MJí÷YFMFéHæKM EMVHMJJKè^FMFMEHê÷FFMEHYKEbHYMXFMEHLKFHbMLHYè^ÚEMEH^G^MEH[KMåMXHDVYWMYFDFFMFaHbMJHä÷JHbKMYMHTMWKGEHMKEYFHFÙIKYè^HíDJéHSDEHåMWE÷WFHYKè^H^MVFM LKFH]GFVEFMJØ÷EäFMEéHæKMHTMKYäMXbMJHYKEbHØDVLHåMíKJFYè^DäFMFaHDåMJH÷åMJDXXHíDè^YMEHFJGIKYè^MHíJ÷è^FMHKEHê÷XXMHVEbHí÷XXMéHæMJH_VXØDEKYè^M ìGbMEHLVêHMðFJMLHäJVè^FåDJHYMKEé RLLMJHíKMbMJHFJKFFHçGJWMHDVäHbKMHìJMLYMaHíMKXHKJWMEbMKEHêDVYFKMJH÷åMJHbMEHïMWHXëVäFaHê÷^EMJaHãEFMEaHÜKMWMEHVEbHäMFFMHYè^íDJZMHOè^íMKEMé
REHbMEHYVLIäKWMEH]KMbMJVEWMEHíëXZMEHYKè^HêMJbMEH_GEHïDYYMJå÷ääMXEHKLHOè^XDLLéHïKMHbKMYMYH_GEHbMJH]DFVJHWMYMWEMFMHòDEbHXDVFHGääKZKMXXMJ î]NQæDJYFMXXVEWHDEHLDEWMXEbMJHãJEë^JVEWaH`DHêVEWMJYÙLIFGLMEHXMKbMEHYGXXaHXëêFHYKè^HYè^íMJHMJØXëJMEéH]MåMEHSDXDJKDHYGXXHPVåMJØVXGYMHíMKF _MJåJMKFMFHYMKEéHñåMJHbKMH[MåVJFMEQJDFMHKYFHMKEMHbMJH^Úè^YFMEHbMJHïMXFéHçMbMHíJDVHWMåëJFHbVJè^Yè^EKFFXKè^HYKMåMEHÛKEbMJéHREHbKMYMLHFJKYFME îLäMXbH÷åMJJDYè^FHbDYHñVäFDVè^MEHMKEMJHOè^VXØXDYYMH_GEHSëbè^MEHKEHåXDVQíMKêMJHîEKäGJLaHbKMHbKYZKIXKEKMJFHKEHÜíMKMJJMK^MHDLHOFJDêMEJDEb MEFXDEWYIDZKMJFé îMJWMåXKè^H^DåMHKè^HEDè^HbMEHMKEYFHYGHåMWM^JFMEHODEbMX^GXZåëVLMEaH\ODEFDXVLHDXåVLðaHñVYYè^DVHWM^DXFMEaHbKMHbJMKêKWHçD^JMHåJDVè^MEa VLHK^JMHEGJLDXMHêÚ^MH_GEHZM^EHSMFMJEHZVHMJJMKè^MEéHOKMHYKEbHíG^XHDXXMHJëVåMJKYè^MJHñå^GXZVEWHZVLHNIäMJHWMäDXXMEéHOGXDEWMHíKJHVEYHXëEWY bMJHÛ÷YFMHåMíMWMEaHíMJbMEHíKJH_GEHÛKEbMJEHDEWM^DXFMEaHbKMHì÷EbMXHLKFHYKXåMJEHWXëEZMEbMEHíKYè^MEHZVLHÛDVäHDEåKMFMEéHRLHòDEbMYKEEMJE äDXXMEHLKJHSëEEMJWJVIIMEHDVäaHbKMHKEHåVEFHWMZKMJFMEHÛëäKWMEHêë^EMHFJDEYIGJFKMJMEéH\OKMHíDEbMJEHZVLHêD^EMEØDLIäHKEHMKEMYHbMJHVLXKMWMEbME æÚJäMJðaHØGLLMEFKMJFHçGJWMéHæKMYMYHWJDVYDLMHOIKMXaHåMKHbMLHbKMHPKMJMHYKè^HLKFHYè^DJäMEHSMFDXXØXKEWMEaHbKMHDEHbMEHÛJDXXMEHäKðKMJFHYKEba WMWMEYMKFKWHZMJäMFZMEaHíKJbHDVäHPKLGJaHíKMH÷åJKWMEYHDVè^HKEHDEbMJMEHPMKXMEHREYVXKEbMYHVEbHDVäHbMEHU^KXKIIKEMEaHLKFHMEFäMYYMXFMJHòMKbMEYè^DäF VEbHVEFMJHãKEYDFZHJMXDFK_H^G^MJHïMFFYVLLMEHDVYWMFJDWMEéHîEYMJHíD^JMJH^ëXFHEKè^FH_KMXH_GEHbKMYMLHîGXØY_MJWE÷WMEéHñLHãEbMHí÷JbMEHbKM îMJXKMJMJHYKè^HLKFHbMEHíMEKWMEH_MJåXKMåMEMEHUMYMFMEHYKEEXGYHåMFJKEØMEHVEbHñHKEHbKMH^MKLKYè^MHê÷FFMHZVJ÷èØWMØM^JFHñHK^JMHïVFHVEb ãEFFëVYè^VEWHbVJè^HîMJIJ÷WMXEHK^JMJHíJDVMEHDåJMDWKMJMEé æDYHDXYHDJè^KFMØFGEKYè^MYHÛXMKEGbHbMJHÛGXGEKYDFKGEHWMIJKMYMEMHìDVèDVHMJíMKYFHYKè^HDXYHYè^LVèØXGYMHñEYDLLXVEWHWMbVèØFMJaHíMKêHWMF÷Eè^FMJ êëVYMJéHæKMHLMEYè^MEXMMJMEHOFJDêMEHYFMKWMEHYFMKXHDEHVEbHäXKLLMJEHKEHbMJHSKFFDWY^KFZMéHæKMHZMEFJDXHWMXMWMEMHØDF^GXKYè^MHÛKJè^MHíMKYFHØMKEMJXMK Oè^LVèØHDVäHDVêMJHMKEMJHÛDè^MXQñååKXbVEWHbMJHSDbGEEDH_GEHíDFKLDHVEbHbMYH^MKXKWMEHñEFGEKVYaHVLHbMYYMEHOè^VFZHDVäHUGJFVWKMYKYè^HWMåMFMF íKJbé ãKEMHíKJØXKè^MHôåMJJDYè^VEWHåKMFMFHbKMHKEHLDØMXXGYMEHìGEåGEäDJåMEHXMVè^FMEbMH\UGVYDbDHíXDLåGÙDEFðéHïKMHbVJè^HMKEHïVEbMJHKYFHbDYHJGYD WMYFJKè^MEMH[DYF^DVYHDVYHbMJHîMJí÷YFVEWHDVäMJYFDEbMEHVEbHIäXMWFHMKEMEHMJYFDVEXKè^HDEYIJVè^Y_GXXMEHOFKXéHæKMHÜKLLMJaHbKMHKè^HäX÷è^FKW åMYKè^FKWMaHYKEbHLKFHDXXMLHÛGLäGJFHDVYWMYFDFFMFéHîGJHDXXMLHbDYHTMYFDVJDEFHbMJHUGVYDbDaHbMYYMEHPMJJDYYMHMKEMEHíMKFMEHTVEbåXKèØHMJXDVåFaHFVF YKè^HbVJè^HäDYFHXVðVJKÚYMH[DYFXKè^ØMKFH^MJ_GJHLKFHLDØMXXGYMEHPKYè^bMèØMEaHMXMWDEFMLHìMYFMèØHVEbHMKEMJHIMJäMØFHWMYFÙXFMEHMKE^MKLKYè^ME ìMbKMEVEWaHbKMHíMKêMHOè^÷JZMEHVEbHêëVåè^MEHFJëWFéHæDYHDEWMåGFMEMHSME÷HYè^LMèØFH_GJZ÷WXKè^é REHbMJHUGVYDbDHíXDLåGÙDEFHåKEHKè^HLKFHMKEMLH[MYIJëè^YIDJFEMJH_MJDåJMbMFaHbMJHLKJHDXYHòMKFMJHbMYHIGJFVWKMYKYè^MEHREäGJLDFKGEYbKMEYFMYHDVä PKLGJHVEbHDXYHMðZMXXMEFMJHÛMEEMJHbMJH_MJíGJJMEMEHIGXKFKYè^MEHÜVYDLLME^ëEWMHMLIäG^XMEHíVJbMéHíMJEDEbGHíMJMKJDaHíKMHíKJHK^EHEMEEME íGXXMEaHKYFHJMKEMJHòVYKFDEKMJHG^EMHMKEMEHOè^VêHLMXDEMYKYè^MEHGbMJHLDXDKKYè^MEHìXVFMYéHæMJHYMXåYFYKè^MJHDVäFJMFMEbMHSDEEHLKFHYè^íDJZML ìDèØMEåDJFHb÷JäFMH_KMJZKWHçD^JMHDXFHYMKEéHïKJHVEFMJ^DXFMEHVEYHDVäHäJDEZÚYKYè^aHVEbHbDbVJè^HMEFYFM^FHMKEMHYIGEFDEMHXDFMKEKYè^MHREFKLKFëFéHïKMHbKM ÛGXGEKDX^MJJYè^DäFHòKYYDåGEYHZVHãEbMHWKEWHVEbHVEFMJHíMXè^MEHîLYFëEbMEHbKMHOGXbDFMEHbMYH[MEMJDXHOV^DJFGHYKè^HbMJHÚYFXKè^MEHREYMX^ëXäFM åMLëè^FKWFMEaHKYFHLKJHKEZíKYè^MEHDVYJMKè^MEbHåMØDEEFé SÙYFMJKÚYH^KEWMWMEHMJYè^MKEMEHLKJHbKMH[J÷EbMaHbKMHbMEHïMYFMEHñHMYHWM^FH_GJHDXXMLHVLHbKMHîOñHVEbHbKMHDVYFJDXKYè^MHTMWKMJVEWHbMY SKEKYFMJIJëYKbMEFMEHçG^EHêGíDJbHñHåMíGWMEH^DFFMEaHbMJHTMIVåXKØHREbGEMYKMEHK^JMHøćéHUJG_KEZHNYFQPKLGJHíKMbMJHZVHMEFJMKêMEHVEbHKEHæKXK MKEMEHVEDå^ëEWKWMEHOFDDFHKEYHòMåMEHZVHJVäMEé ïKJH^DåMEHVEYMJMHSD^XZMKFHJMKè^XKè^HLKFHIGJFVWKMYKYè^MLHTGFíMKEHåMWGYYMEéHíMJEDEbGaHbMJHDEäDEWYHJMè^FH_MJYè^XGYYMEHíKJØFMaHYMFZFHYMKEM OGEEMEåJKXXMHDåHVEbHíKJbHZVYM^MEbYHLKFFMKXYDLMJéHãYHØXKEWFaHíKMHLKJHYè^MKEFaH[DXWME^VLGJHLKFaHíMEEHMJHDVäHbKMH^KMYKWMEHîGJWëEWMaHZVLDXHbKM ìML÷^VEWMEHYMKEMYHMKWMEMEHòDEbMYaHZVHYIJMè^MEHØGLLFaHKEHbMLHY÷bGYFDYKDFKYè^MEHÜKIäMXHíKMbMJHíXDWWMHZVHZMKWMEéHñXYHïMEbMIVEØFHbMY KEFMJEDFKGEDXMEHUGØMJYIKMXYHEMEEFHMJHbMEHëøéH]G_MLåMJHëììëéHñEHbKMYMLHPDWMH^DFFMEHYKè^HKEHæKXKHMFíDHFDVYMEbHMKE^MKLKYè^MHUDFJKGFMEHDL íJKMb^GäHODEFDHCJVZH_MJYDLLMXFaHVLHbMEHPGbHMKEMYHKLHÛDLIäHWMäDXXMEMEHïKbMJYFDEbYØëLIäMJYHZVHåMØXDWMEéHREbGEMYKYè^MHOGXbDFMEHMJÚääEMFME bDYHíMVMJHVEbHJKè^FMFMEHMKEHSDYYDØMJHDEéHæDYHíDJHMKWMEFXKè^HEKè^FYHîEWMíÚ^EXKè^MYéHñåMJHbKMYMYHSDXHWMJKMFHbDYHåJVFDXMHîGJWM^MEHbMYH[MEMJDX OV^DJFGHKEHbDYHWJMXXMHòKè^FHbMJHíMYFXKè^MEaH_GJHDXXMLHbMJHDLMJKØDEKYè^MEHSMbKMEéH[DEZHZVäëXXKWHYMKHbKMHKEFMJEDFKGEDXMHñEFMKXED^LMHíG^XHEKè^F ZVYFDEbMHWMØGLLMEaHåMLMJØFHíMJEDEbGHLKFHL÷bMLHòëè^MXEé RLHçD^JHëììëHYè^íMXWFMEHbKMHîOñHKEHbMJH[MíKê^MKFaHK^JHÜKMXHMKEMJHíMXFíMKFMEHêMWMLGEKMHMJJMKè^FHZVH^DåMEéHæKMHOGí`MFVEKGEHíDJ DVYMKEDEbMJWMåJGè^MEéHUJëYKbMEFHìVY^HYMEKGJH^DFFMHODbbDLHêVYYMKEHKEHbKMHÛEKMHWMZíVEWMEéHRLHÛDIKFGXHZVHïDY^KEWFGEHØMKLFMHMKEM îGJYFMXXVEWaHbKMHVEFMJH[MGJWMHìVY^HRRHZVJHNåYMYYKGEHíMJbMEHYGXXFMéHæMLEDè^HL÷êFMEHKLHÜMKè^MEHMKEMJHKbMGXGWKYè^MEH[XMKè^Yè^DXFVEW YëLFXKè^MHòëEbMJHbMYHãJbåDXXYHbKMHDLMJKØDEKYè^MEHîGJYFMXXVEWMEH_GEHæMLGØJDFKMHVEbHÛDIKFDXKYLVYH÷åMJEM^LMEé æMLHæKØFDFGJHREbGEMYKMEYaHêDb`KHSG^DLMbHOV^DJFGaHbMJHDXYHVEMJåKFFXKè^MJHÛGLLVEKYFMEäMKEbHMKEHíKXXØGLLMEMJHîMJå÷EbMFMJHíDJaH^DFFM LDEHåKYXDEWH[JDVYDLØMKFHVEbHÛGJJVIFKGEHEDè^WMYM^MEéHîEFMJHbMJHMEMJWKYè^MEHí÷^JVEWHbMYH\Xëè^MXEbMEH[MEMJDXYðH^DFFMHYMKEHWKWDEFKYè^MJ ñJè^KIMXHYGWDJHMKEMEHåMLMJØMEYíMJFMEHíKJFYè^DäFXKè^MEHñVäYè^íVEWHMJXMåFéHæGè^HIXÚFZXKè^HíVJbMHbMJHDXFMJEbMHæMYIGFaHbMJHYKè^HZVEM^LMEb YFÚJJKYè^HZMKWFMHVEbHbMEHïMKYVEWMEHbMYHREFMJEDFKGEDXMEHïë^JVEWYäGEbYHLKFHåMJMè^FKWFMLHSKêFJDVMEHåMWMWEMFMaHMKEHVEåMóVMLMJaH`D åMXDYFMEbMJHñXXKKMJFMJéHÜVbMLHØDLHbMJHîMJbDè^FHDVäaHbDêHMJHYKè^HZVJHÛGEYGXKbKMJVEWHYMKEMYHTMWKLMYHEKè^FHEVJHDVäHbKMHVEMEFåM^JXKè^MHñJLMM YF÷FZFMaHYGEbMJEHWMíKYYMEHKYXDLKYè^MEHÛJëäFMEHZVHíMKFMEHOIKMXJDVLHMKEJëVLFMéHÛVJZVLaHbMJHSG^JH^DFFMHYMKEMHOè^VXbKWØMKFHWMFDEaHbMJHSG^J ØGEEFMHWM^MEé ãYHíDJH`DHEKè^FHbDYHMJYFMHSDXaHbDêHïDY^KEWFGEHåMíë^JFMH[MäGXWYXMVFMHäDXXMEXKMêéHRLH[MbDEØMEDVYFDVYè^HLKFHLMKEMLHIGJFVWKMYKYè^ME [MYIJëè^YIDJFEMJHMJíë^EMHKè^HbDYHFJDVJKWMHOè^KèØYDXHbMYHUJëYKbMEFMEH]WGHæKE^HæKMLHKEHîKMFEDLaHbMEHOè^D^H_GEHUMJYKMEaHbK_MJYMHCDVbKXXGYHKE òDFMKEDLMJKØDHVEbHEMVMJbKEWYHDVè^HbKMHUJMYYMØDLIDWEMHWMWMEH[MEMJDXHUMJ_MZHSVY^DJJDäHKEHUDØKYFDEé æKMHKEbGEMYKYè^MEHÛGLLDEbMVJMaHbKMHPDVYMEbMHK^JMJHOGXbDFMEHKEHbMJH[VMJJKXXDH_GEHNYFQPKLGJH_MJXGJMEH^DFFMEHVEbHEDè^HbMJ [MäDEWMEED^LMHbMYHíKè^FKWYFMEHUDJFKYDEMEä÷^JMJYHĈDEDEDH[VZL GH÷åMJZMVWFHíDJMEaHbMJH\UDZKäKZKMJVEWðHbKMYMJHJMåMXXKYè^MEHøćéHUJG_KEZHED^M ZVHYMKEaH^DFFMEHYGWDJHbMEH[MbDEØMEHDEHMKEMHåMWJMEZFMHñVFGEGLKMHNYFQPKLGJYHíMKFH_GEHYKè^HWMíKMYMEéHæKMHOKFVDFKGEHëEbMJFMHYKè^H`MbGè^ WJ÷EbXKè^aHDXYHKLHçD^JHëììćHNYFDYKMEHbVJè^HMKEMHØDFDYFJGI^DXMHíKEDEZØJKYMHMJYè^÷FFMJFHíVJbMé ]Gè^H^MVFMH^ëXFHYKè^HKEHbMEHòëEbMJEaHbKMH_GEHbKMYMJHTMZMYYKGEHWMFJGääMEHíVJbMEaHbMJHîMJbDè^FaHbDêHYKMHKEHMKEMJHMJYFMEHU^DYMHbVJè^HbKM SDEKIVXDFKGEMEHbMYHíKEDEZLDWEDFMEH[MGJWMHOGJGYaHYMKEMHOIMØVXDFKGEHWMWMEHbKMHF^DKXëEbKYè^MHìDF^Qïë^JVEWaHDVYWMXÚYFHVEbHDEYè^XKMêMEb bVJè^HbDYHØJDLIä^DäFMHíMYF^DXFMEHDEHbMEHYè^ëbXKè^MEHãEFYè^MKbVEWMEHbMYHïMXFíë^JVEWYäGEbYHDVäHMKEMHWDEZMHTMK^MHDEbMJMJHOFDDFMEHKEHíMJEGYF ñHbDJVEFMJHO÷bØGJMDHñHDVYWMíMKFMFHíVJbMéHñLH^ëJFMYFMEHåMFJGääMEHíDJHREbGEMYKMEaHíGHbKMHïë^JVEWaHbKMHTVIKD^aHKEYHìGbMEXGYMHYF÷JZFMaHbKM DVäYFJMåMEbMEHREbVYFJKMZíMKWMHIXÚFZXKè^HZVYDLLMEåJDè^MEHVEbHbDYH[MYIMEYFHbMYHOFDDFYåDEØJGFFYHDVäFDVè^FMéHãKEMHïMXXMH_GEHîMJZíMKäXVEWa ïVFHVEbH[MíDXFHåMLëè^FKWFMHYKè^HbMJHåKYXDEWHYGHIDYYK_HVEbHVEFMJí÷JäKWHíKJØMEbMEHSDYYMEéH[DEZHREbGEMYKMEHØÚEEFMHñLGØHXDVäMEaHYG
åMä÷Jè^FMFMEHbKMHãðIMJFMEé ñLHøëéHSDKHëìì×HJMYKWEKMJFMHbMJHYè^íMJHMJØJDEØFMHVEbH_MJåKFFMJFMH[MEMJDXHOV^DJFGéHãJHWDåHbDYH^Úè^YFMHOFDDFYDLFHDEHYMKEMEHåKY^MJKWME îKZMIJëYKbMEFMEHVEbHMEWMEHîMJFJDVFMEHčVYVäHêDåKåKMHDåéHæKMHíMYFXKè^MEHêDEbMXYIDJFEMJHREbGEMYKMEYHDFLMFMEHDVäéHêDåKåKMHWMEGêH_GJHDXXMLHKE æMVFYè^XDEbaHíGHMJHYMKEHREWMEKMVJYFVbKVLHMKEYFHåJKXXDEFHDåWMYè^XGYYMEH^DFFMaH^G^MYHñEYM^MEHVEbHWDXFHDXYH[DJDEFHXKåMJDXMJHĉØGEGLKMHVEb IGXKFKYè^MJHPGXMJDEZéHæDêHYKè^HbKMYMJHFMè^EKYè^H^Gè^åMWDåFMHSDEEHKLHIGXKFKYè^MEHOIKMXHDXYHîMJYDWMJHVEbHU^DEFDYFHMJíMKYMEHYGXXFMaHMEFbMèØFME YMKEMHbMVFYè^MEHíJMVEbMHíG^XHMJYFaHDXYHêDåKåKMHDXXMEHãJEYFMYHbDJDEWKEWaHbMEHñVäåDVHMKEMJHKEbGEMYKYè^MEHíXVWZMVWKEbVYFJKMHKEHbKMHïMWMHZV XMKFMEé ñEWMYKè^FYHbMJHñVäYFDEbYåMíMWVEWMEaHbKMHDEHbMJH]GJbYIKFZMHOVLDFJDYHKEHbMJHäDEDFKYè^HKYXDLKYè^MEHUJG_KEZHñèM^aHåMKHbMEHUDIVDH_GEHïMYFQ ]MVWVKEMDHVEbHEDF÷JXKè^HDVè^HKEHNYFQPKLGJHDVääXDèØMJFMEaHJMDWKMJFMHêDåKåKMHLKFHTDFXGYKWØMKFéHæKMHOFDEb^DäFKWØMKFHbMYHEMVMEHUJëYKbMEFMEHíDJ bMLHLDYYK_MEHæJVèØaHbMLHMJHYKè^HDVYHïDY^KEWFGEHVEbHCDEåMJJDHDVYWMYMFZFHä÷^XFMaHEKè^FHWMíDè^YMEéHÜVHìMWKEEHbMYHçD^JMYHëìììH_GXXZGWHMJHbKM IXÚFZXKè^MHÛM^JFíMEbMHVEbHMJØXëJFMHYKè^HåMJMKFaHbKMHãKEíG^EMJH_GEHPKLGJQòMYFMHVEFMJHKEFMJEDFKGEDXMJHôåMJíDè^VEWH÷åMJHK^JMHîEDå^ëEWKWØMKF GbMJHbMEHîMJåXMKåHåMKHREbGEMYKMEHDåYFKLLMEHZVHXDYYMEéHîKMXXMKè^FH^MWFMHMJHbKMHêGääEVEWaHbDêHbKMHbGJFKWMHìM_ÚXØMJVEWaHbKMH_GEHçDØDJFD KLLMJ^KEHíKJFYè^DäFXKè^HåMW÷EYFKWFHíGJbMEHíDJaHä÷JHbMEHOFDFVYHóVGHGIFKMJMEHí÷JbMé \æMJHTMYFHKYFHR^EMEHåMØDEEFðaHEKLLFHíMJMKJDHYMKEMHñJWVLMEHFDFKGEHíKMbMJHDVäéHæMJHKEbGEMYKYè^MH[MEMJDXHïKJDEFGHXÚYFMHKEHbMJHM^MLDXKWME IGJFVWKMYKYè^MEHÛGXGEKMHMKEMHãKEYè^÷è^FMJVEWYØDLIDWEMHYGEbMJWXMKè^MEHDVYaHLGåKXKYKMJFMHDEHNJFHVEbHOFMXXMHOè^XëWMJFJVIIYHVEbHXGØDXMHSKXKZMEa bKMHK^JMHPJMVMHZVHçDØDJFDHbVJè^HYÙYFMLDFKYè^MHîMJäGXWVEWHbMJH\REbMIMEbMEFKYFDYðHbMLGEYFJKMJFMEéHæDêHbKMHbJDEWYDXKMJFMEHPKLGJMYMEHDLH÷Öé ñVWVYFHëìììHYKè^HbMEEGè^HLKFHć×aöHUJGZMEFHbMJHOFKLLMEHä÷JHbKMHîEDå^ëEWKWØMKFHDVYYIJDè^MEaHFJDäHbKMHKEbGEMYKYè^MEHSKXKFëJYHíKMHMKEH^DJFMJ Oè^XDWHVEbHMKEMHFKMäMHæML÷FKWVEWéHçMFZFHXKMêMEHYKMHK^JMHUDJFMKWëEWMJH_GXXMEbYH_GEHbMJHòMKEMéHæKMH_GEHbMJHñJLMMHJMØJVFKMJFMEHSÚJbMJåDEbME VEbHUX÷EbMJMJHJKè^FMFMEHMKEMHDIGØDXÙIFKYè^MHîMJí÷YFVEWHDEéHïë^JMEbHæKXKHVEbHbKMHLMKYFMEHæÚJäMJHKEHíXDLLMEHDVäWKEWMEaHäX÷è^FMFMEHøÖÖHÖÖÖ ãKE^MKLKYè^MHKEHDåWMXMWMEMH[MåKJWY_MJYFMèØMéHí÷JHbKMYMHSMF^GbMHbMJH_MJåJDEEFMEHãJbMHWKåFHMYHYGWDJHMKEMEHKEbGEMYKYè^MEHìMWJKääõ \UJMLåVLK^DEWVYDEðé RLHOMIFMLåMJHYè^XVWHbKMHOFVEbMHbMJHåMíDääEMFMEHREFMJ_MEFKGEHbMJHîMJMKEFMEH]DFKGEMEéHãYHíVJbMHÜMKFaHbMJHTDYMJMKHMKEHãEbMHZVHYMFZMEé êDåKåKMHLVêFMHYKè^HMKEMJHMKEYFKLLKWMEHTMYGXVFKGEHbMYHïMXFYKè^MJ^MKFYJDFYHåMVWMEHVEbHbKMHòDEbVEWH_GEHä÷EäFDVYMEbHDVYFJDXKYè^ME \ìXDV^MXLMEðHDØZMIFKMJMEaHbKMHbVJè^HYMè^YFDVYMEbHOGXbDFMEHDEbMJMJHSKFWXKMbYFDDFMEHEDè^HVEbHEDè^HMJWëEZFHíVJbMEéHæKMH\REFMJEDFKGEDXHíGJèM äGJHãDYFHPKLGJðHóR]PãTíãPôH÷åMJED^LHbKMHLKXKFëJKYè^MHÛGEFJGXXMéHãKEMHôåMJWDEWYDbLKEKYFJDFKGEHbMJHî]NaHî]PñãPHWMEDEEFaHYGXXFMHYKè^HbJMK çD^JMHXDEWH_MJWMåXKè^HåML÷^MEaHKLH]DLMEHbMJHæMLGØJDFKMHMKEHSKEKLVLHDEHNJbEVEWHíKMbMJ^MJZVYFMXXMEé ù \OGHXDVFMFHbKMHGääKZKMXXMHOFGJÙaHbKMHOKMH÷åMJDXXHEDè^XMYMEHØÚEEMEðaHäë^JFHíMJMKJDHäGJFaH\DåMJHbMJHíKJØXKè^MHêKEFMJWJVEbHbKMYMYHIXÚFZXKè^ME OKEEMYíDEbMXYHVEbHbMJH÷åMJYF÷JZFMEHREFMJ_MEFKGEHbMJHREFMJEDFKGEDXMEHîÚXØMJWMLMKEYè^DäFaHíKMHMYHYGHYè^ÚEH^MKêFaHIJëYMEFKMJFHYKè^HWDEZ DEbMJYéðHæKMHWXGåDXMHOFJDFMWKMHYIKMXMHEDF÷JXKè^HMKEMH_GJJDEWKWMHTGXXMéHæKMH[MJ÷è^FMaHíGEDè^HbKMHîOH]D_ÙHDEHbMJH]GJbØ÷YFMH_GEHPKLGJQòMYFM GbMJHDVäHñFDVJGHMKEMHSDJKEMåDYKYHMJJKè^FMEHíGXXMaH^DåMEHYKè^HåKY^MJHEKè^FHåMíD^J^MKFMFéHñåMJHSDJKEMMðIMJFMEH_MJíMKYMEHíMKFMJ^KEHbDJDVäaHbDê bKMHFKMäMEH[MíëYYMJHbMJHOD_VQOMMHVEbHbMJHïMFDJHOFJDKFHñHZVLDXHKEHbMJHUMJYIMØFK_MHMKEMYHÛGEäXKØFMYHLKFHC^KEDHñHMKEMHKbMDXMHVEbHYKè^MJM æKJMØFIDYYDWMHä÷JHDLMJKØDEKYè^MH]VØXMDJQîQìGGFMH_GLHUDZKäKØHZVLHREbKYè^MEHNZMDEHbDJYFMXXMEéHOMXåYFHKEH^DJLXGYMEaH_ÚXXKW VE_GJMKEWMEGLLMEMEH[VKbMHìGGØYHíKJbHDEWMbMVFMFaHbDêHbKMYMHW÷EYFKWMHLDJKFKLMHPGIGWJDI^KMHåMKHbMLHIXÚFZXKè^MEHãKEFJMFMEHïDY^KEWFGEYHä÷J bKMHîEDå^ëEWKWØMKFHPKLGJQòMYFMYHMKEMHWJÚêMJMHTGXXMHWMYIKMXFH^DåMEHb÷JäFMHDXYHbKMHìMFMVMJVEWH^MKXKWMJHUJKEZKIKMEHbMJHSMEYè^MEJMè^FMHVEbHbMJ EDFKGEDXMEHOMXåYFåMYFKLLVEWé \TDFMEHOKMaHíDYHåMKLHãEWDWMLMEFHïDY^KEWFGEYHVEbHCDEåMJJDYHZVH[VEYFMEHbKMYMJHÜíMJWJMIVåXKØHbMEHíKJØXKè^MEaHbMEHMEFYè^MKbMEbME ñVYYè^XDWHWMWMåMEH^DFĊðHäJDWFHLMKEHIGJFVWKMYKYè^MJHSMEFGJHLKFHåKFFMJMLHòëè^MXEéHæKMHñEFíGJFHäëXXFHEKè^FHYè^íMJõH\CċMYFHXMHIÝFJGXMHñHãYHKYFHbDY ãJbÚXþðHRè^HYDWMHMKEMEHOIJVè^HDVäaHbMJHñHEDè^HMKWMEMEHãJäD^JVEWMEHJKEWYHVLHbKMHïMXFHñHíMKFMJ^KEHYMKEMH[÷XFKWØMKFHåMYKFZFéHOGHíKMHMYHZVHÜMKFME bMYHåJKFKYè^MEHãLIKJMYH÷åXKè^HíDJaHbDêHbKMHOMMXMVFMHR^JMJHSD`MYFëFHbMEHíKEWMJHKEHbDYHïDYYMJHbMJHNZMDEMHFDVè^FMEHLKFHbMJHìMLMJØVEWõH\PDYFMY YDXFÙaHLVYFHåMHìJKFKY^HñHOè^LMèØFHYDXZKWaHLVêHDXYGHåJKFKYè^HYMKEðaHYGHMJ^MåFHVLHbKMHïMEbMHZVLHMKEVEbZíDEZKWYFMEHçD^J^VEbMJFHbKMHMKEZKW _MJåXKMåMEMHOVIMJLDè^FHîOñHbMEHñEYIJVè^õH\OLMXXYHGKXÙaHLVYFHåMHñLMJKèDEHñHTKMè^FHEDè^HĉXaHLVêHDXYGHDLMJKØDEKYè^HYMKEéð æKMHPKLGJQOMMaHYGHíVêFMEHbKMHUJGYIMØFGJMEHYMKFHWMJDVLMJHÜMKFaHMEF^ëXFHØEDIIHDè^FZKWHSMFMJHVEFMJHbMLHSMMJMYYIKMWMXHJMKè^MHîGJØGLLMEHDE UMFJGXMVLHVEbHãJbWDYéH]VEHFJKääFHMYHYKè^aHbDêHbDYHìDÙVîEbDEQíMXbaHíGHbKMHíÚJbMJVEWHåMJMKFYHKLH[DEWMHKYFaHEVJHøöÖHÛKXGLMFMJHY÷bíMYFXKè^HbMY FKLGJMYKYè^MEHíKYè^MJGJFMYHOVDKaHDåMJHöÖÖHÛKXGLMFMJH_GLHEGJbDVYFJDXKYè^MEHêDäMEHæDJíKEHMEFäMJEFHXKMWFéHOè^GEHKYFHMKEMHUKIMXKEMHä÷J [DYFJDEYIGJFHKLHìDVaHbKMHEKè^FHEDè^HOVDKaHYGEbMJEHEDè^HæDJíKEHä÷^JFaH_GEHíGHbMJHïMKFMJMðIGJFHKEHTKè^FVEWHçDIDEHYFDFFäKEbMEHYGXXé æDYHñåØGLLMEaH\PKLGJH[DIHPJMDFÙðHWMEDEEFaHbDYHVEFMJHSKêDè^FVEWHbMJHWMGWJDI^KYè^MEHíDØFMEHVEbHbMJH_ÚXØMJJMè^FXKè^H_MJåKEbXKè^ME îYDEèMEHVEFMJZMKè^EMFHíVJbMaHØDLHVEFMJHLDYYK_MLHæJVèØHCDEåMJJDYHZVYFDEbMéHãKEMHMðFJMLHØGLIXKZKMJFMHTMWMXVEWHíVJbMHLKFHbML KEFMJEDFKGEDXMEHÛGEZMJEHU^KXXKIYHUMFJGXMVLH_MJMKEåDJFaHDVYHbMLHEVJHMKEMYHLKFHÛXDJ^MKFH^MJ_GJWM^FaHEëLXKè^HbKMHMKEbMVFKWMHìMEDè^FMKXKWVEWHbMJ PKLGJMYMEé OGXXFMHKEHæKXKHMKEMYHPDWMYHMKEMH^DEbXVEWYäë^KWMHVEbHYMXåYFHåMíVêFMHTMWKMJVEWHDEYHTVbMJHØGLLMEaHíëJMHbMJHGääMEMHOFJMKFHLKFHñVYFJDXKME _GJIJGWJDLLKMJFaHZVLDXHbKMHñVYåMVFVEWHbMJHZVYëFZXKè^MEHTMYMJ_MEHVEbHíÚJbMJåXGèØYHKLH\[JMDFMJHOVEJKYMHíKMXbðHEGè^HEKè^FHZVWMFMKXFHíVJbMé ïMJHíG^XHDXYH[MWMEYIKMXMJHbMJHñEWMXYDè^YMEHVEbHDXYHOMØVEbDEFHbMJHWMIJMXXFMEHPKLGJQTMWKMJVEWHKEHíJDWMHØëLMaHäJDWMHKè^éH\ñVäHXDEWMHOKè^F ØGLLFHEVJHMKEMH[JGêLDè^FHKEHíJDWMðaHXDVFMFHbKMHñEFíGJFéH\æDYHíKJbHLKFHOKè^MJ^MKFHEKè^FHbKMHãVJGIëKYè^MHîEKGEHYMKEaHDXYHbMJMEHSKFWXKMb UGJFVWDXHYMKEMJHM^MLDXKWMEHÛGXGEKMHåMKYFM^MEHLÚè^FMéHæDYHØDEEHDVäHæDVMJHEVJHbKMHîGXØYJMIVåXKØHC^KEDHYMKEaHbKMHDXYHñVäØëVäMJHbMYHKLLMEYME SKEMJDXJMKè^FVLYHñVYFJDXKMEYHDXYHíMEKWHåMXKMåFMJaHDåMJHVEMEFåM^JXKè^MJaHVEMJYëFFXKè^MJHÛVEbMH÷åMJHZVEM^LMEbMHæJVèØLKFFMXH_MJä÷WFéð ìMKLHîMJXDYYMEHbMJHUGVYDbDHíXDLåGÙDEFHäëXXFHLKJHMKEHæMEØLDXHDVäaHbDYHYMKEMJZMKFHDXYHÜMKè^MEHbMJHDEWMåXKè^MEHMEWMEHîMJåVEbME^MKFHLKF çDØDJFDHMJJKè^FMFHíVJbMéHãKEHKEHLDXDKKYè^MHPJDè^FHWMØXMKbMFMYHUDDJHYGXXFMHbKMHÜVWM^ÚJKWØMKFHZVHREbGEMYKMEH_MJYKEEåKXbXKè^MEaHVEbHYMXFYDLMJíMKYM KYFHMYHEKMLDEbMLHMKEWMäDXXMEaHbKMYMYHOÙLåGXHMKEMJHMJZíVEWMEMEHôåMJäJMLbVEWHZVHZMJYè^XDWMEéHíMJEDEbGH_MJDåYè^KMbMFHYKè^HLKFHMKEML ØJëäFKWMEHDåJDZGéHæDåMKHWKåFHMJHLKJHbMEHTDFaHDVäHbMLHUXDFMDVH_GEHìDVèDVHEDè^HbMLHíXVWIXDFZHñVYYè^DVHZVH^DXFMEaHbMJHEGè^H_GEHbME UGJFVWKMYMEHDEWMXMWFHíVJbMHVEbHKLH[MWMEYDFZHZVLHíKEZKWMEHñKJIGJFH_GEHæKXKHDVè^Hä÷JHbKMHòDEbVEWHWJGêMJHæ÷YMELDYè^KEMEHFDVWFéHæKMHî]N ^DåMHYKè^HbKMH]VFZVEWHbKMYMJHDVYWMbM^EFMEHTGXXåD^EH_GJåM^DXFMEé
ïDJHMYHbKMHYè^XMè^FMHïKFFMJVEWHGbMJHMKEMHWMZKMXFMH]Dè^XëYYKWØMKFHbMJHDVYFJDXKYè^MEHíXVWXGFYMEaHbDêHMKEMHJVYYKYè^MHSDYè^KEMaHbKMHLKF FMè^EKYè^MLHVEbHMXMØFJGEKYè^MLH[MJëFHDVYHUGJFVWDXHZVJHñVäJ÷YFVEWHbMJHFKLGJMYKYè^MEHOFJMKFØJëäFMHåMXDbMEHíDJaHKLHçD^JHøÖÖHK^JHÜKMXH_MJäM^XFM VEbHåJMEEMEbHKLHìVYè^HDVäYè^XVWĊH]Kè^FHíMKFHbD_GEHYKEbHOGXbDFMEHbMJHKLHñVäåDVHåMäKEbXKè^MEHñJLMMH_GEHPKLGJQòMYFMHKEHìDJDèØME VEFMJWMåJDè^FéHí÷JHbMJMEHñVYåKXbVEWH^DåMEHbKMHñVYFJDXKMJHEKè^FHbMEHDVYYè^XKMêXKè^MEHñVäFJDWH÷åMJEM^LMEHØÚEEMEéHãYHYKEbHDVè^HREYFJVØFMVJM DVYHìDEWXDbMYè^HVEbHbK_MJYMEHñOãñ]QOFDDFMEHIJëYMEFaHíDYHbMJHPDVWXKè^ØMKFHbKMYMJHPJVIIMHLKFHOKè^MJ^MKFHEKè^FHZVWVFMHØGLLFéHæKMHC^KEMYME bMJHîGXØYJMIVåXKØH^DFFMEHYKè^HVJYIJ÷EWXKè^HDVäHbKMHòKMäMJVEWH_GEHîEKäGJLMEHåMYè^JëEØFaHYKEbHDåMJHDEWMåXKè^HDVè^HDXYHïDääMEXKMäMJDEFMEHVEb bKYØJMFMHñb_KYGJYH÷åMJHbKMHWDEZMHREYMXJMIVåXKØH_MJYFJMVFé æMJHíD^JMJHçGJWMH^DFFMHVEYMJMLH[MYIJëè^aHbDYHDVäHäJDEZÚYKYè^HWMä÷^JFHíVJbMaHEKè^FHäGXWMEHØÚEEMEéHçMFZFHYFMVMJFHMJHYMKEMEH[MXëEbMíDWME DVäHbKMH_MJíKFFMJFMEHTMYFMHbMJHIGJFVWKMYKYè^MEHíMYFVEWYLDVMJEH_GEHìDVèDVHZVéHNääMEåDJHíKXXHMJHYMKEMHKEHMKEMJHÛXGYFMJYè^VXMHMJíGJåMEME òDFMKEØMEEFEKYYMHZVJH[MXFVEWHåJKEWMEéH\OKèHFJDEYKFHWXGJKDHLVEbKðaHZKFKMJFHMJaHVEbHYMKEHMJYFDJJFHíKJØMEbMYaHbVEØXMYHñEFXKFZHíKJbHIXÚFZXKè^H_GE MKEMLHñEäXVWH_GEHêMKFMJØMKFaHDåMJHDVè^H_GEHPJDVMJHåMXMåFéHãJHØÚEEMHLKJHíMYFXKè^H_GEHæKXKaHKEHSDVåDJDaHDVè^HEGè^HMKEMHìGLåDJbMHñHMKEM OFMKEYè^XMVbMJHñHbMJHÛGXGEKDXLDè^FHDVYHbMLHYKMåZM^EFMEHçD^J^VEbMJFHZMKWMEaHYè^XëWFHMJH_GJéH\OKèHFJDEYKFHWXGJKDHòVYKFDEKDMHMFHãVJGIDMða MJWëEZMHKè^HYMKEMEHäJGLLMEHOIJVè^éHãKEHIDDJHIXVLIMH[MYè^÷FZMHGbMJH\íMVMJYè^XDEWMEðaHíKMHLDEHbDLDXYHYDWFMaH^DFFMEHWME÷WFaHVLHbML íMKêMEHSDEEHZVHYMKEMJHïMXF^MJJYè^DäFH÷åMJHDXXMHÛDFMWGJKMEHäDJåKWMJHVEbHMðGFKYè^MJHîÚXØMJHZVH_MJ^MXäMEéHêMVFMHb÷JäFMHbKMHñE^ëVäVEWHbMJ IMJäMØFKGEKMJFMYFMEHPMè^EKØaHbMJHãKEYDFZH_GEHïVEbMJíDääMEaHØDVLHLM^JHDVYJMKè^MEaHVLHMKEMHYGHíKbMJEDF÷JXKè^MHVEbHDELDêMEbMHæGLKEDEZHZV _MJMíKWMEé
SGJbHVEbHPGFYè^XDWHKLHÜMKè^MEHbMJHíJMK^MKF ñJMKDHìJDEèDaHKLHSëJZHøÖÖ× SKFHMKEKWMJHU^DEFDYKMHØÚEEFMHLDEHYKè^HDLHíMKêMEHODEbVäMJH_GEHñJMKDHìJDEèDHMKEåKXbMEaHMKEMHSKEKDFVJHbMJHCGIDèDåDEDHZVHMEFbMèØMEéHæDZV FJDWMEHbKMHIGJFVWKMYKYè^MEHTVäMHVEbHïGJFäMFZMEHåMKaHbKMH_GEHbMEHKLHSMMJHIXDEYè^MEbMEHSMEYè^MEH^MJ÷åMJØXKEWMEéHÜíDJH^ëXFHLDEH_MJWMåXKè^ EDè^HbMEHUJVEØåDVFMEHVEbHbMEHLGbMJEMEHSGEYFMJäDYYDbMEHbMJHåJDYKXKDEKYè^MEHSMFJGIGXMHñVYYè^DVaHDåMJHbKMHãXMEbY_KMJFMXH_GEHæKXKaHbKMHbVJè^ MKEMHWEëbKWMHÛ÷YFMEØJ÷LLVEWH_MJbMèØFHYKEbaHXDYYMEHYKè^HbVJè^DVYHLKFHbMEHbGJFKWMEHíD_MXDYH_MJWXMKè^MEéHREHãJLDEWMXVEWHbMYHåMJ÷^LFME \ÜVèØMJ^VFYðH_MJYIMJJFHbDYHCDIHíDFVèVLDHbMEHÚYFXKè^MEHêGJKZGEFaHVEbHDVäHbMYYMEH^Úè^YFMLHíMXYMEHMJ^MåFHYKè^HFDFYëè^XKè^HíKMHKEHTKGHMKEM WKWDEFKYè^MHC^JKYFVYYFDFVMéHæMJHêMKXDEbHYFJMèØFHDVè^H^KMJHYMKEMHYMWEMEbMEHñJLMHDVYHVEbHYè^MKEFH_MJWMåXKè^HåML÷^FaH[MíDXFHVEbHãXMEbH_GE bMEHWMIXDWFMEHSMEYè^MEHNYFQPKLGJYHäMJEZV^DXFMEé ïKJHYKEbHDVYHMKEMLHåMYGEbMJMEHñEXDêHKEHbKMYMLHMJåëJLXKè^MEHOFJDEbJMYFDVJDEFH_GEHñJMKDHìJDEèDHZVYDLLMEWMØGLLMEéHæMJHêGXZYè^VIIME LKFHØXDIIJKWMJHîMJDEbDHíKJbHbVJè^HOFDè^MXbJD^FHXGèØMJHDåWMYKè^MJFéHêKMJHäMKMJMHKè^HLMKEMEH×éH[MåVJFYFDWéHRè^H^DXFMHEKè^FH_KMXH_GEHbMLH\êDIIÙ ìKJF^bDÙðQ[MóVDØMaHDåMJHLMKEMEH[ÚEEMJEH_GEHbMJH[PÜHåKEHKè^HG^EM^KEHMKEMHíMFMHYè^VXbKWéHîLHbDYHPJMääMEHZVHIGXKFKYè^MLHVEbHKEäGJLDFK_ML ñVYFDVYè^HZVHEVFZMEaH^DåMEHYKMHMKEHIDDJHUGXKFKØMJHVEbHM^MLDXKWMHSKEKYFMJHbMJHTMIVåXKØHPKLGJQòMYFMH^KEZVWMXDbMEé îGJHDXXMLHMJäJMVFHLKè^HbKMHñEíMYME^MKFHLMKEMYHíJMVEbMYHîbGHêDDYMHVEbHYMKEMJHíJDVHã_DéHìMKbMH^DFFMHKè^HKLHbMVFYè^MEHOè^KèØYDXY`D^JHëì×ì KEHbMJHLGEWGXKYè^MEHêDVIFYFDbFHîXDEHìDFGJHØMEEMEQVEbHYè^ëFZMEWMXMJEFéHîbGHíDJHbDLDXYHDXYHæKIXGLDFHbMJHæMVFYè^MEHæMLGØJDFKYè^ME TMIVåXKØHKEHbMJHêMKLDFHæYè^KEWKYHÛ^DEYHFëFKWéHãJHåM^MJJYè^FMHbKMHòDEbMYYIJDè^MHñHEDè^HñVYYDWMEHbMJHãKE^MKLKYè^MEHñHäDYFHYGHWVFHíKMHMKE WMå÷JFKWMJHSGEWGXMHVEbH_MJä÷WFMH÷åMJHIJGäVEbMHòDEbMYØMEEFEKYé ]Dè^HYMKEMLHñVYYè^MKbMEHDVYHbMLHDVYíëJFKWMEHæKMEYFHbMJHææTH^DåMHKè^HbMEHÛGEFDØFHDVäJMè^FMJ^DXFMEéHîbGHíVJbMHYIëFMJHì÷JWMJLMKYFMJ _GEHOè^ÚEMäMXbaHVEbHbDLKFHäKMXHK^LHåMKLHñVYåDVHbMYHbGJFKWMEH[JGêäXVW^DäMEYHMKEMHíKè^FKWMHñVäWDåMHZVéHìM_GJHKè^HLKFHã^MIDDJHêDDYMHEDè^ NYFQPKLGJHDVäåJDè^HñHbKMHêGJJGJLMXbVEWMEaHbKMHDVYHæKXKHMKEFJDäMEaHØGEEFMEHbKMHåMKbMEHEKè^FHDåYè^JMèØMEHñaH^DFFMEHíKJHYè^GEHWMLMKEYDLM ãðØVJYKGEMEHVEFMJEGLLMEé OGHíDJMEHíKJHMKEHIDDJHçD^JMH_GJHñEWMXDHSMJØMXHVEbHOKWLDJH[DåJKMXHEDè^H[JÚEXDEbHWMJMKYFHVEbH^DFFMEHäMYFWMYFMXXFaHbDêHbKMHÛXKLDMJíëJLVEWa bKMHë^EXKè^HW÷EYFKWMHñWJDJQHVEbHïMKbMåMbKEWVEWMEHDLHTDEbMHbMJHWMíDXFKWMEHãKYØDIIMHíKMbMJ^MJYFMXXFMHíKMHZVHÜMKFMEHbMYHïKØKEWMJYHãJKØYHbMY TGFMEaHDVè^HbMEHVJZMKFXKè^HíKJØMEbMEHSGYè^VYGè^YMEHZVWVFMHØDLé RLHêKLDXDÙDQÛÚEKWJMKè^Hì^VFDEHMEFbMèØFMEHíKJHKLHäGXWMEbMEHçD^JHFDFYëè^XKè^HMKEMHñJFHO^DEWJKQòDéHæKMHêMKFMJØMKFaHbDYHïG^XåMäKEbMEHbMJ bGJFKWMEHìM_ÚXØMJVEWHíDJHEKè^FH_GEHbMJHOMVè^MHbMYHSDYYMEFGVJKYLVYH^MKLWMYVè^FéHSMKEMEH×÷éH[MåVJFYFDWH^DFFMEHíKJHKLHSëJZHøÖÖć WMLMKEYDLHDEHìGJbHMKEMYHØXMKEMEHJVYYKYè^MEHãKYåJMè^MJYHKEHbMJHåKZDJJMEaHMðFJDFMJJMYFJKYè^MEHïMXFHbMJHñEFDJØFKYHLKFH_KMXHïGbØDHWMäMKMJFHVEb _GEHLKFäD^JMEbMEHïKYYMEYè^DäFXMJEHMJäD^JMEaHbDêHYKè^HDLHO÷bIGXHMKEMHñåØ÷^XVEWHbMJHMKYKWMEHíXVFMEH_GXXZKM^FaHbDêH÷åMJHbKMYMLHYMè^YFME ÛGEFKEMEFHWMíDXFKWMHOè^EMMäëXXMHEKMbMJWM^MEaHbKMHYKè^HKEHØGLIDØFMHZVYëFZXKè^MH[XMFYè^MJLDYYMEH_MJíDEbMXEé æKMYMYHSDXHØDVäMHKè^HbMLHLKXKFëJKYè^HWMYè^÷FZFMEHCGLLKYYDJÙHO^GIH_GEHæKXKaHbMYYMEHñEWMåGFHä÷JHbKMHãKE^MKLKYè^MEHVEMJYè^íKEWXKè^HKYFa DåMJHä÷JHbKMHIJK_KXMWKMJFMHÛDYFMHbMJHî]NQíVEØFKGEëJMHVEbHbMJH][NQUDJDYKFMEHDXXMHEVJHbMEØåDJMEHòVðVYW÷FMJHäMKX^ëXFaHMKEHIDDJHíXDYè^MEHï^KYØÙ ñHSDJØMHC^K_DYHTMWDXHñaHäJDEZÚYKYè^MEHC^DLIDWEMJHVEbH_GJZ÷WXKè^MEHDVYFJDXKYè^MEHTGFíMKEaHVLHbDYHïKMWMEäMYFHWMå÷^JMEbHZVHåMWM^MEéHí÷J bKMH]D^JVEWHYGJWFHbMJHïKJFHVEYMJMJHJMKè^XKè^H_MJWDLLMXFMEH\UGVYDbDðaHMKEHSVXDFFMHDVYHSGYDLåKØaHbMJHZVJHíMKMJHbMYHPDWMYHEMåMEHbMJ Yè^íDJZQWMXåQJGFMEHíD^EMH_GEHPKLGJQòMYFMHDVè^HbDYHJGFQWJ÷EMHìDEEMJHUGJFVWDXYHWM^KêFH^DFéHãJHYMJ_KMJFHMKEMEHYè^LDèØ^DäFMEHíKYè^aHbMYYME äMYFMYHíXMKYè^HYKè^HLKFHbMLH\ãLIMJMVJðHDVYHbMLHSKFFMXLMMJH_MJWXMKè^MEHXëêFéHæDZVHØGLLFHDVYFJDXKYè^MYHåMMäHVEbHMKEMHåVEFYè^KXXMJEbMHPGJFMé ìMYGEbMJYH^ÙWKMEKYè^HWM^FHMYHKEHbKMYMJHÛDLå÷YMHEKè^FHZVéHæDä÷JHYGJWFHYè^GEHMKEHøääè^MEaHbDYHDEHXDEWMJHòMKEMHZíKYè^MEHbMEHPKYè^ME ^MJVLYIJKEWFéHæGè^HíMEHYFÚJFHbDYĊ Rè^H^DåMHZVYëFZXKè^MEH[JVEbaHLMKEMHUJëYMEZHKEHæKXKHZVHäMKMJEéHSKFHbKMYMJHãFDIIMH_GXXMEbMHKè^HLMKEMHñåYKè^FaHYëLFXKè^MHòëEbMJHVEYMJMY ãJbåDXXYHDVäZVYVè^MEaHKEØXVYK_MHbMJHbK_MJYMEHREYMXWJVIIMEHbMYHUDZKäKØéHôåMJHbKMYMHODLLXMJQSDJGFFMaH÷åMJHbKMHSDEKMaHbKMHXDFMKEKYè^MHíGJLMX \JMJVLHEG_DJVLHèVIKbVYðHKEYH[MGWJDI^KYè^MHVLZVYMFZMEaHLDWHYKè^HbMJHMKEMHGbMJHDEbMJMHOè^ÚEWMKYFHLGØKMJMEéHãKEHåMäJMVEbMFMJHè^KEMYKYè^MJ æKIXGLDFHåMWX÷èØí÷EYè^FMHLKè^HZVHbKMYMLHïDEbMJFJKMåHVEbHZKFKMJFMHbMEHíMKYMEHÛGEäVZKVYaHbMJHbMLHTMKYMEbMEHKEHäJMLbMEHòëEbMJEHMKEME ë^EXKè^MEHTDEWHMKEJëVLFMHíKMHbMLH[MåKXbMFMEaHbMJHYKè^HbMLHOFVbKVLHíKbLMFé
OM^JHYè^EMXXHØGLLFHMKEHLVEFMJMYaHLMbKFMJJDEHDELVFMEbMYH[MYIJëè^HKEH[DEWéHPJGFZHbMJHYè^í÷XMEHêKFZMaHbKMHDLHÛÚJIMJHØXMåFaHYFMXXFHYKè^ MVI^GJKYè^MaHDVYWMXDYYMEMHOFKLLVEWHMKEéHæMJHJMKè^XKè^MHñXØG^GXWMEVêHFJëWFHbDZVHåMKaHDåMJHDVè^HbDYHWJDEbKGYMHOè^DVYIKMXHbMYHFJGIKYè^ME OGEEMEVEFMJWDEWYéHîEFMJHbMEHFKLGJMYKYè^MEH[ëYFMEHåMäKEbMEHYKè^HMKEHM^MLDXKWMJHREEMELKEKYFMJHVEbHMKEHãEFíKèØXVEWYLKEKYFMJaHbMJH_GJHØVJZML YMKEHñLFHóVKFFKMJFMé æMEHîMJMKEFMEH]DFKGEMEHñHKEYIKJKMJFHbVJè^HDLMJKØDEKYè^QDVYFJDXKYè^MHSMEYè^^MKFYåMWX÷èØMJHñHíDJHä÷JHbDYH\EDFKGEHåVKXbKEWðaHbMLHYKMHYKè^ DVè^HKEHNYFQPKLGJH_MJIäXKè^FMFHä÷^XFMEaHEKè^FYHìMYYMJMYHMKEWMäDXXMEHDXYHbKMHãKEä÷^JVEWHbMJHIDJXDLMEFDJKYè^MEHæMLGØJDFKMHVEbHMKEMY SM^JIDJFMKMEYÙYFMLYaHbDYHYè^EVJYFJDèØYHDVäHå÷JWMJØJKMWYë^EXKè^MHÜVYFëEbMHZVYFMVMJFMéHîGEHbMJHRXXVYKGEHbMYH\EDFKGEHåVKXbKEWðHZVLH\äDKXMb YFDFMðaHbDYH^ëFFMHLDEHYIëFMYFMEYHYMKFHìDWbDbHVEbHÛDåVXHíKYYMEHL÷YYMEaHKYFHMYH`DHEVJHMKEHOè^JKFFé îEYMJMHäJMKL÷FKWMHUXDVbMJMKHíMEbMFHYKè^HZíDEWYXëVäKWHbMEHåXVFKWMEHãJMKWEKYYMEHZVaHbKMHYKè^HMKEMEHØEDIIMEHSGEDFHZV_GJaHDLHëëéHíMåJVDJ øÖÖ×aHKEHbMEHGåMJYFMEHOI^ëJMEHbMYHOFDDFMYHDåYIKMXFMEéHæKMHíGXWMEHbKMYMYHDåYVJbMEHëóVDFGJKDXMEHUGXKFQP^JKXXMJYHYKEbHZVJHOFVEbMHVEØDXØVXKMJåDJé æKMHDVYXëEbKYè^MEH]Dè^JKè^FMEbKMEYFMaHbKMHbKMHREYFDåKXKFëFHDEHbKMYMLHYFJDFMWKYè^MEHOè^EKFFIVEØFHDVäLMJØYDLHåMGåDè^FMEaHYGíMKFHYKMHDEHbMJME è^DGFKYè^MEHñVYí÷è^YMEHEKè^FHDØFK_HåMFMKXKWFHYKEbaHYVè^MEHØJDLIä^DäFHEDè^HIXDVYKåXMEHãJØXëJVEWMEé ïKMHØGEEFMHMYHIDYYKMJMEaHbDêHbDYHOFDDFYGåMJ^DVIFH_GEHPKLGJQòMYFMaHçGYÝHTDLGYQêGJFDaHåMKLHLGJWMEbXKè^MEHçGWWKEWHDLHED^MEHOFJDEb YMKEMJHTMYKbMEZH_GEHMKEHIDDJHÛKXXMJEH÷åMJäDXXMEHVEbHbVJè^HLM^JMJMHÛVWMXEHYè^íMJHñHíKMHbKMHñEWJMKäMJHíG^XHWXDVåFMEõHFÚbXKè^HñH_MJXMFZFHíVJbMĊ ïKMHXëêFHYKè^HMJØXëJMEaHbDêHYMKEMHòMKåíëè^FMJH_GEHbMJHî]NHMKEMH^DXåMHOFVEbMHåJDVè^FMEaHVLHK^JMLHIJGLKEMEFMEHOè^÷FZXKEWHZVHêKXäMHZV ØGLLMEĊHOGWDJHbMJHÜVWDEWHZVLH[JVEbYF÷èØHbMYHOFDDFYè^MäYHíDJHDVäHïMKYVEWHKJWMEbMKEMJHKEFMJEDFKGEDXMEHìM^ÚJbMHä÷JH`MbMHíGJLH_GE ìMKYFDEbHDåWMJKMWMXFHíGJbMEé ]Gè^HYMXFYDLMJHLVFMFHMKEMHDEbMJMHñXDJLLMXbVEWHDEaHíGEDè^HbMJHDLFKMJMEbMHSKEKYFMJIJëYKbMEFHĈDEDEDH[VZL GHEVJHMKEMHØEDIIMHOFVEbM EDè^HbMLHñEYè^XDWHDVäHTDLGYQêGJFDHMåMEäDXXYHKEHMKEMEHêKEFMJ^DXFHWMJKMFéHOMKEHïDWMEHíVJbMH_GEHÛVWMXEHbVJè^YKMåFaHDåMJHíMbMJHbMJ TMWKMJVEWYè^MäHEGè^HYMKEMHìGbÙWVDJbYHMJXKFFMEHbKMHWMJKEWYFMHîMJXMFZVEWéHæMJHîMJbDè^FaHMYH^DåMHYKè^HVLHMKEHäKEWKMJFMYaH_GEHbMLHìMFJGääMEME YMXåYFHKEYZMEKMJFMYHñFFMEFDFHWM^DEbMXFaHbJëEWFHYKè^HZíKEWMEbHDVäé ĈDEDEDH[VZL GH^DFFMHKLHæYè^VEWMXØDLIäHWMWMEHbKMHREbGEMYKMJHWJGêMHUGIVXDJKFëFHWMíGEEMEéHãJHbKYFDEZKMJFMHYKè^HWMJEH_GEH`MEMEHUGXKFKØMJEa bKMHK^JMHìMäJMKVEWYØDLIDWEMHDVYHbMLHYKè^MJMEHñVYXDEbYMðKXHWMä÷^JFH^DFFMEéH]Dè^HYMKEMJH[MäDEWMEED^LMHKLHçD^JHëììëHåXKMåHYMKEHUJMYFKWM KEFDØFéHãJYFHEDè^HYMKEMJHíVEbMJåDJMEHãJJMFFVEWHDLHëëéHíMåJVDJHøÖÖ×aHDXYHMJHbMEHñEYFKäFMJHbKMYMYHDEWMåXKè^MEHOFDDFYYFJMKè^YHDXXZVHYè^EMXX åMEDEEFMaHØDLMEHÜíMKäMXHDEHYMKEMJHREFMWJKFëFHVEbHYGWDJHDEHYMKEMEHSMJKFMEHKLHÛDLIäHWMWMEHçDØDJFDHDVäé æMJHOè^VXbKWMaHYGHXKMêH[VZL GH_MJåJMKFMEaHYMKHMKEHè^DGFKYè^H_MJDEXDWFMJHíJMKYè^ëJXMJQÛGLLDEbDEFHEDLMEYHñXäJMbGHñX_MYHTMKEDbGaHbMJHYKè^ KLHíJ÷^`D^JHøÖÖïHDEHbKMHOIKFZMHMKEMJHTM_GXFMHM^MLDXKWMJHSKFYFJMKFMJHbMYHîEDå^ëEWKWØMKFYØDLIäMYHWMYFMXXFH^DFFMéHæKMYMHîMFMJDEMEHbMJ \òKåMJDèKGEðaHbMJMEHREFMJMYYMEHTMKEDbGH_MJFJDFaHíDJMEH_GEHbMJHôåMJED^LMHKEHbKMHEMVHDVäWMYFMXXFMEHOFJMKFØJëäFMHbMJHTMIVåXKØHDVYWMYè^XGYYME íGJbMEéHN^EMHîMJW÷FVEWaHG^EMHTMEFMHVEbHVEFMJHYØDEbDXÚYMJHSKêDè^FVEWHK^JMJHîMJbKMEYFMHíVJbMEHYKMHLKFFMXXGYHKEHK^JMHæÚJäMJHZVJ÷èØWMYè^KèØFé æKMH\UMFKYKGEKYFDYðaHíKMHYKMHYKè^HEDEEFMEaHä÷^XFMEHYKè^HVLHK^JMEHOKMWHVEbHK^JMEHNIäMJLVFHåMFJGWMEé R^JHïVFDVYåJVè^HíDJHä÷Jè^FMJXKè^éHRLHSDKHøÖÖïHØDLHMYHKEHæKXKHVEbHbMEHVLXKMWMEbMEHNJFYè^DäFMEHZVHMKEMJHNJWKMHYKEEXGYMJH[MíDXFéHæKM íMEKWMEH[MåëVbMHbMYH`VEWMEHREYMXYFDDFMYaHbKMHbMJHîMJí÷YFVEWHbVJè^HbKMHIJGKEbGEMYKYè^MEHSKXKZMEHEDè^HbMLHîEDå^ëEWKWØMKFYQTMäMJMEbVL _GEHëìììHMEFWDEWMEHíDJMEaHäKMXMEHEVELM^JHbMJHØGLIXMFFMEHÜMJYFÚJVEWHDE^MKLéHæKMHWJDVYDLMEHREYFKEØFMHbMJHÛGIäH`ëWMJHYè^KMEMEHíKMbMJ DVäZVXMåMEéHîEZë^XKWMHÜK_KXKYFMEHäX÷è^FMFMEHKEHbMEHìVYè^é æMJHTMåMXXHTMKEDbGaHbMJHåMKHYMKEMEHOFDLLMYåJ÷bMJEH_GJHDXXMLHKLHíMYFXKè^MEHPMKXH_GEHPKLGJQòMYFMHLKEbMYFMEYHMåMEYGHIGIVXëJHíDJHíKM ĈDEDEDH[VZL GaHZGWHYKè^H_GJHbMLHÜVWJKääHDEJ÷èØMEbMJHî]NQPJVIIMEHKEHbKMHK^LH_MJFJDVFMEH[MåKJWY_MJYFMèØMHZVJ÷èØéHæMEHDVYFJDXKYè^ME OIMZKDXQCGLLDEbGYaHbKMHK^EH_GJ÷åMJWM^MEbHäMYFWMYMFZFH^DFFMEaHMEFØDLHMJHLKFHä÷EäZKWH[MäGXWYXMVFMEHDVäHLÙYFMJKÚYMHïMKYMéHæMJHZVYFëEbKWM [MäëEWEKYbKJMØFGJaHbMJHíG^XHZV_KMXHíVêFMaHíVJbMHíMEKWMHPDWMHEDè^HbKMYMLHñVYåJVè^H_MJWKäFMFH_GJWMäVEbMEé ìMKHíMKFMEHPMKXMEHbMJHìM_ÚXØMJVEWaHbMEMEHbKMHOFDDFYWJ÷EbVEWHåKY^MJHEVJHñEDJè^KMHVEbHñJLVFHWMåJDè^FH^DFFMaHWMíDEEHTMKEDbGHOÙLIDF^KM VEbHîEFMJYF÷FZVEWaHDXYHMJHYKè^HWMWMEHbKMHUJK_KXMWKMEHbMJHJMWKMJMEbMEHÛDYFMH_GEHUDJFMKäVEØFKGEëJMEaHWMWMEHbKMHÛGJJVIFKGEHbMJHUDJXDLMEFDJKMJ DVäXM^EFMHVEbHDXYHñEíDXFHbMJHãEFJMè^FMFMEaHDXYHY÷bGYFDYKDFKYè^MJH\TGåKEHêGGbðHDVäFJDFé æKMHìMYè^VXbKWVEWH[VZL GYaHTMKEDbGH^DåMHbKMHãJLGJbVEWHçGYÝHTDLGYQêGJFDYHYGíKMHbMEHìMYè^VêHYMKEMYHMKWMEMEHíD^JZMVWYHDEWMYFKäFMFHVEb YKè^HbVJè^HSGJbHDEHbKMHSDè^FHIVFYè^MEHíGXXMEaHåJDè^HKEHYKè^HZVYDLLMEaHDXYHVEDå^ëEWKWHGIMJKMJMEbMHIGJFVWKMYKYè^MHãJLKFFXMJHäMYFYFMXXFMEaHbDê bMJHOFDDFYè^MäHêGJFDHVEbHbMJHTMåMXXHTMKEDbGHØMKEMYíMWYHVE_MJYÚ^EXKè^H_MJäMKEbMFHíDJMEaHYGEbMJEHWMLMKEYDLHEDè^HMKEMLHñVYWXMKè^HVEbHMKEMJ ìMYëEäFKWVEWHbMJH_MJäMKEbMFMEHíJDØFKGEMEHYVè^FMEé ñXäJMbGHTMKEDbGaHYGHíVJbMHåMØDEEFaH^DFFMHDLHñåMEbH_GJHbMLHôåMJäDXXHLKFHçGYÝHTDLGYQêGJFDHWMFDäMXFHVEbHKLHÜVYFDEbHYFDJØMJ ñXØG^GXKYKMJVEWHKLHêDVYHbMYHUJëYKbMEFMEH÷åMJEDè^FMFéHñLHäGXWMEbMEHSGJWMEHíVJbMHMJHMKEMH^DXåMHOFVEbMaHåM_GJHbKMHOè^÷YYMHDVäHbME `GWWMEbMEHOFDDFYè^MäHDåWMäMVMJFHíVJbMEaHbVJè^HbJMKHÛVWMXEHKEHbMEHÛGIäHJMWMXJMè^FHMðMØVFKMJFé æKMHìMZKM^VEWMEHZíKYè^MEHêGJFDHVEbH[VZL GH^KEWMWMEaHYGHíKJbHKEHæKXKHØGXIGJFKMJFaHYMKMEHZVHbKMYMLHÜMKFIVEØFHDVäYHøVêMJYFMHDEWMYIDEEF WMíMYMEéHòMFZFMJMJH^DFFMHYKè^HMKEMJHEMVFJDXMEHîEFMJYVè^VEWHbMJHêKEFMJWJ÷EbMHbMYHUMFKYKGEKYFDQñVäJV^JYHíKbMJYMFZFaHíë^JMEbHTMKEDbGHMKEM YGXè^MHôåMJIJ÷äVEWHäGJbMJFMéHSKFHVEMJØXëJXKè^MJHîMJYIëFVEWHíVJbMHbMJHYè^íMJ_MJXMFZFMHêGJFDHbGè^HEGè^HEDè^HñVYFJDXKMEHDVYWMäXGWMEaHíGHMJ bVJè^HìXVFFJDEYäVYKGEHVEbHGIMJDFK_MHãKEWJKääMHKLHJMEGLLKMJFMEHTGÙDXHêGYIKFDXH_GEHæDJíKEHMJYFDVEXKè^HYè^EMXXHíKMbMJHZVHÛJëäFMEHØDLéHïMXè^M [Mä÷^XMHMJHMLIäDEbaHDXYHbMJHZíKMXKè^FKWMHTMWKMJVEWYè^MäH[VZL GHDEHYMKEHÛJDEØMEåMFFHMKXFMaHMKEHìXVLMEåVØMFFH÷åMJJMKè^FMHVEbHK^EHVLDJLFMa ^DFHEKMLDEbHMJäD^JMEé REHæKXKHäDEbHVEFMJbMYYMEHMKEHYMXFYDLMYHOIMØFDØMXHYFDFFéHæKMHòMKè^MHbMYHDEWMåXKè^MEHêGè^_MJJëFMJYHTMKEDbGHíVJbMHVEFMJHïM^ØXDWMEHMKEMJ FDVYMEbØÚIäKWMEHPJDVMJWMLMKEbMHDVäHbMLHíJKMb^GäHODEFDHCJVZHåMKWMYMFZFéHOMKEHODJWHíDJHKEHbKMH]DFKGEDXäXDWWMHWM^÷XXFéHæMJHØDF^GXKYè^MHÛXMJVYa bMJHYKè^H`MbMEHÛGLLMEFDJYHZVHbMEHåKZDJJMEHîGJWëEWMEHMEF^DXFMEH^DFFMaHMJFMKXFMHbMLHFGFMEHñVäJ÷^JMJHbMEHXMFZFMEHOMWMEé ÛVJZHbDEDè^HíVJbMHLKFHWMåGFMEMJHîGJYKè^FHMKEMHîKbMGQñVäZMKè^EVEWHVEFMJHbDYHîGXØHWMåJDè^FaHDVäHbMJHTMKEDbGHYKè^HíMEKWMHOFVEbMEH_GJ YMKEMJHêKEJKè^FVEWHLKFHbMJHK^LHMKWMEMEHJ^MFGJKYè^MEHìMWDåVEWHWMWMEHbKMHMJbJ÷èØMEbMHãKEäXVêED^LMHbMYHñVYXDEbYHñHWMLMKEFHíDJMEHbKM ñVYFJDXKMJHVEbHbMJMEHDLMJKØDEKYè^MHîMJå÷EbMFMHñHDVäXM^EFMéHãJHIJDEWMJFMHbKMHñVYåMVFVEWHbMJHFKLGJMYKYè^MEHãJbÚXQHVEbHãJbWDYQTMKè^F÷LMJ bVJè^HbDYHäJMLbMHÛDIKFDXHDEéHãJHYMXåYFHñHíKMHDVè^HbMJHNåMJåMäM^XY^DåMJH[MEMJDXHPDVJHSDFDEHTVDØHñHYMKHYè^GEHøÖÖHbVJè^H[M^MKLDWMEFME bK_MJYMJHDEWMXYëè^YKYè^MJHòëEbMJHZVLHUVFYè^HWMWMEHbMEHbDLDXKWMEHTMWKMJVEWYè^MäHSDJKHñXØDFKJKHDVäWMYFDè^MXFHíGJbMEé REHCDEåMJJDHVEbHïDY^KEWFGEHYFDEbHbMJHZVH`MEMLHÜMKFIVEØFHDLFKMJMEbMHSKEKYFMJIJëYKbMEFHñXØDFKJKHKLHîMJbDè^FaHbKMHMJbJ÷èØMEbMHSKXKFëJQHVEb ïKJFYè^DäFYIJëYMEZHñVYFJDXKMEYHbVJè^HñEXM^EVEWHDEHbKMHîGXØYJMIVåXKØHC^KEDHZVHØGLIMEYKMJMEHVEbHDVYZVåDXDEèKMJMEéHñEH`MEMLHFJDWKYè^ME
íMåJVDJFDWHøÖÖ×HYFMXXFMEHbKMHPKLGJMYMEHLKFHîMJíVEbMJVEWHäMYFaHbDêHØEDIIHbJMKHOFVEbMEHEDè^HbMLHDEWMåXKè^MEHîLYFVJZ_MJYVè^HTMKEDbGY DVYFJDXKYè^MHOIMZKDXQCGLLDEbGYaHDXYH^ëFFMEHYKMHåMJMKFYHDVäHbMLHOIJVEWHWMYFDEbMEaHKEHæKXKHMKEFJDäMEé ïKMHYGXXHMKEHNJFYäJMLbMJHbKMYMYHTëEØMYIKMXHbVJè^Yè^DVMEaHíMEEHYè^GEHbKMHãKE^MKLKYè^MEHYKè^HKEHíKbMJYIJ÷è^XKè^MEHîMJbëè^FKWVEWMEHVEb ìMYè^VXbKWVEWMEH_MJäDEWMEĊHïMXè^MHIGXKFKYè^MEHïKJJMEHbMJHTMIVåXKØHNYFQPKLGJHEGè^HåM_GJYFM^MEaHØDEEHØMKEH[DYFHVEYMJMJH[MåVJFYFDWYJVEbM _GJDVYYDWMEéHñVYHbMEHXMFZFMEHUDJXDLMEFYíD^XMEHWKEWHbKMHíTãPRòR]aHbMJMEH[MEMJDXYMØJMFëJHñXØDFKJKHYFëEbKWMEHSGJbbJG^VEWMEHVEbHFëFXKè^ME ôåMJWJKääMEHWMWMEHYMKEMHíDLKXKMHDVYWMYMFZFHKYFaHDXYHYFëJØYFMHíJDØFKGEH^MJ_GJéHîKMJHOIXKFFMJIDJFMKMEHFDFMEHYKè^H`MbGè^HZVYDLLMEaHVLHbML äJ÷^MJMEHOMLKEDJKYFMEH[VZL GHZVLHñLFHbMYHTMWKMJVEWYè^MäYHZVH_MJ^MXäMEéHãKEHXë^LMEbMYHUJGIGJZYÙYFMLHMJXDVåFHbKMHDåYVJbMYFMEHIGXKFKYè^ME ÛGLåKEDFKGEMEéHçMbMHUDJFMKaHbKMHbKMHæJMKQUJGZMEFQê÷JbMH÷åMJíKEbMFaHØDEEHñåWMGJbEMFMHKEHbKMHÛDLLMJHMEFYMEbMEéHæMJMEHìMYFMè^XKè^ØMKFHØMEEF ØMKEMH[JMEZMEé ñVäHbKMHñVYFJDXKMJHKYFHEKMLDEbHLM^JHWVFHZVHYIJMè^MEaHVEbHbDYHíKJbHDVè^HKEHVEYMJMJHPDäMXJVEbMHbMVFXKè^éHæKMHñåYKè^FHbMJHî]NQîMJíDXFVEWa íMKFMHñEåDVäXëè^MEH_GEHSDKYHVEbH[MFJMKbMHKEHUXDEFDWMEH_GEHÛGØGYIDXLMEHGbMJHÜVèØMJJG^JHZVH_MJíDEbMXEaHVLH[JVEbYFGääHä÷JH\ìKGäVMXðHZV WMíKEEMEaHYFÚêFHDVäHãLIÚJVEWéHæKMHãKEYè^JëEØVEWHbMJHòMåMEYLKFFMXIJGbVØFKGEHZVWVEYFMEHbMJHOè^DääVEWH_GEH_MWMFDXMLHìMEZKEMJYDFZH_GXXZÚWM YKè^HDVäHÛGYFMEHbMJHbDJåMEbMEHìM_ÚXØMJVEWéHæMJHÚØGXGWKYè^MHïD^EHbKMEMHíG^XHDVè^H^KMJHDXYHîGJíDEbHä÷JHMKEMHíKJFYè^DäFXKè^MHNJKMEFKMJVEWaHYG íKJbHåM^DVIFMFaHbKMHbMEHUJGäKFHbMJHãEMJWKMØGEZMJEMHYFMKWMJFHVEbHbMEHîÚXØMJEHbMJHæJKFFMEHïMXFHbDYHôåMJXMåMEHMJYè^íMJFé îEYMJMHFKLGJMYKYè^MEH[MYIJëè^YIDJFEMJHLÚWMEHSMYFKòGYHGbMJHSMXDEMYKMJHYMKEaHDåMJHbDEØHK^JMJHØDF^GXKYè^QIGJFVWKMYKYè^MEHãJZKM^VEWHíKJØME K^JMH[MbDEØMEWëEWMH_MJFJDVFéHOKMHYKEbHEKè^FHäJMKH_GEHKJGEKYè^MEHVEbHYè^íMJL÷FKWMEHìMFJDè^FVEWMEéHR^JMH]DLMEHíKXXHKè^H_MJYè^íMKWMEaHbMEEHMY XMåFHYKè^HíMKFMJ^KEHWMäë^JXKè^HKEHPKLGJQòMYFMéHîEFMJHbMEHæMVFYè^MEHYIJKè^FHç÷JWMEH[XMLåGFZØKaHìMJDFMJHbMYHïKJFYè^DäFYLKEKYFMJKVLYaHMKE íMKè^MYaHYKEWMEbMYHìJDYKXKDEKYè^HVEbHØMEEFHYKè^HåMYFMEYHDVYéHãJHåJKEWFHbDYH[MYIJëè^HDVäHbKMHJDYYKYè^MHSKYè^ØVXFVJHZíKYè^MEHOè^íDJZHVEbHïMKê ñHKEbKDEKYè^MHãXMLMEFMHYKEbHMåMEäDXXYHMJ^DXFMEHñaHbKMHä÷JHbDYH^MVFKWMHìJDYKXKMEHYGHFÙIKYè^HKYFHVEbHJVEbHVLHbMEHãJbåDXXHMKEH^MJ_GJJDWMEbMY SMJØLDXHbMJHIGJFVWKMYKYè^MEHÛGXGEKYDFKGEHíDJé SMKEH]Dè^åDJaHbMJHñåWMGJbEMFMHíKXGLMEGaHEMKWFHYKè^HLKJH_MJFJDVXKè^HZVõH\ïKJH^DåMEHDXXMEH[JVEbaHVEYMJMEHäJ÷^MJMEHÛGXGEKDX^MJJMEHZV WJGXXMEðaHLMKEFHMJaH\DåMJHYKMHYFM^MEHVEYHIYÙè^GXGWKYè^HYG_KMXHEë^MJHDXYHbKMHñVYFJDXKMJéHïDJVLHØGLLMEHíKJHåMYYMJHLKFHbMEHñEWM^ÚJKWMEHbMY DXFMEHãVJGIDHZVJMè^FHDXYHLKFHbMEHãLKYYëJMEHDVYHCDEåMJJDHVEbHïDY^KEWFGEĊHæKMHîOñHVEbHñVYFJDXKMEHYKEbHMåMEH[MåKXbMHG^EMHMè^FME ^KYFGJKYè^MEHêKEFMJWJVEbaHG^EMHbKMHãJäD^JVEWHVEbHbKMHTMKäMHbMJHWMDXFMJFMEHSëè^FMéðHæKMHDVYFJDXKYè^MEHUDJDFJGGIMJYHYMKMEHDXYHìMäJMKMJHEDè^HæKXK WMØGLLMEéHçMFZFHí÷JbMEHYKMHYè^GEHDXYHìMYDFZMJHMLIäVEbMEé ïDYHLDè^MHbMEHTMåMXXMEHTMKEDbGHåMKHbMEHØXMKEMEHòMVFMEHYGHIGIVXëJĊHîMJLVFXKè^aHbDêHMJHDXYHMJYFMJHbMEH]MGØGXGEKDXKYLVYHbMJH\ñVYYKMYð GääMEHØJKFKYKMJFMaHbDêHMJHñEYFGêHED^LHDEHK^JMJHôåMJ^MåXKè^ØMKFaHK^JMLH^MLbYëJLMXKWMEHñVäFJMFMEaHbDYHYKMHK^JMEHDLMJKØDEKYè^MEHîMFFMJEHYG ë^EXKè^HLDè^FéHæKMYMH]Dè^ØGLLMEH_GEHåJKFKYè^MEHGbMJHKJKYè^MEHÛGXGEKYFMEaHbKMYMHåXGEbMEHGbMJHJGF^DDJKWMEH[JGåKDEMaHbMJMEHîGJäD^JMEHGäFHDXY OFJëäXKEWMHVEbHKEHÛMFFMEHKEHOÙbEMÙHDVYWMXDbMEHíVJbMEaHYGHäë^JFHMJHäGJFaH^ëFFMEHKLHYGWMEDEEFMEHNVFåDèØHMKEMHíGJLHJ÷bMEHÜVYDLLMEXMåMEYHDXY JDV^MH\SDFMYðHMEFíKèØMXFaHbKMHäDYFHåDJåDJKYè^HíKJØMéHæKMYMHíMKê^ëVFKWMEaHYGEEMEMLIäKEbXKè^MEHãðGFMEHäëEbMEHK^JMH^Úè^YFMHòMåMEYMJä÷XXVEWHKL YIGJFXKè^MEHïMFFØDLIäHVEbHMJYè^KMEMEHbMEHãKEíG^EMJEH_GEHPKLGJHíKMHíG^XHDVè^HbMEHLMKYFMEHREbGEMYKMJEHDXYHñVYWMåVJFMEHMKEMJ VE_MJYFëEbXKè^MEH[MYMXXYè^DäFéHêKEFMJHbMEHñFFMEFDFMEHbMYHëëéHíMåJVDJH_MJLVFMFHíKXGLMEGHDEWMXYëè^YKYè^MH[M^MKLbKMEYFMé æMJHMKE^MKLKYè^MEH[MJ÷è^FMØ÷è^MHZVäGXWMHYMKHbMJHDLFKMJMEbMHTMWKMJVEWYè^MäHĈDEDEDH[VZL GHDEHbMLHÛGEäXKØFHWMWMEHUJëYKbMEFHêGJFD LDêWMåXKè^HåMFMKXKWFHWMíMYMEéHñVäHLMKEMEHãKEíDEbaHbKMYMJHUDJFKYDEMEä÷^JMJHYFM^MHbGè^HDVäWJVEbHYMKEMJHTGXXMHDXYHïKbMJYFDEbYØëLIäMJHWMWME bKMHñEEMðKGEYIGXKFKØHçDØDJFDYH`MEYMKFYHDXXMEHîMJbDè^FYaHYFGêMHKè^HDVäHbKYØJMFMHîGJåM^DXFMé æMJHíTãPRòR]QUGXKFKØMJHñJèGE`GHWM^FHEGè^HíMKFMJHKEHYMKEMEHîMJbëè^FKWVEWMEéHãJHØGEYFJVKMJFHMKEMHUDJDXXMXMHZíKYè^MEHbMLHPKQLGJMYME [VZL GHVEbHbMLHIGXEKYè^MEHíJMK^MKFY^MXbMEHòMè^HïDXMYDéHSMKEFHMJHbDLKFHbKMHîMJbëè^FKWVEWMEaHbKMHKEHïDJYè^DVHEMVMJbKEWYHWMWMEHbME ïMJäFDJåMKFMJä÷^JMJH_GEHæDEZKWHWMYè^÷JFHíMJbMEHVEbHK^EHbMJH^MKLXKè^MEHÛGGIMJDFKGEHLKFHbMLHØGLLVEKYFKYè^MEH[M^MKLbKMEYFHbMYH[MEMJDX çDJVZMXYØKHåMZKè^FKWMEĊHïKXXHMJHbMLHMKWMEMEHSKEKYFMJIJëYKbMEFMEHMKEMHFMLIGJëJMHÛGLIXKZMEYè^DäFHLKFHbMEHñWMEFMEHOV^DJFGYHVEFMJYFMXXMEĊHNbMJ ZKM^FHMJHXMbKWXKè^HMKEMEHîMJWXMKè^HZíKYè^MEHbMJHVEZVXëEWXKè^MEHTMWKMJVEWYä÷^JVEWHòMè^HïDXMYDYHEDè^HYMKEMJHìMJVäVEWHZVLHUJëYKbMEFMEHUGXMEY VEbHbMJH\LDXWG_MJEDEèMðaHbMLHDbLKEKYFJDFK_MEHæKXMFFDEFKYLVYaHbMJHbKMHñLFYZMKFH[VZL GYHDVäHPKLGJQòMYFMHØMEEZMKè^EMFĊ îGEHLMKEMEHMKWMEMEHÛGEFDØFMEHLKFHñVYFJDXKMEHDVYWM^MEbaHØDEEHKè^HbKMHîGJåM^DXFMaHbKMHîGJVJFMKXMHbMJHDEíMYMEbMEHPKLGJMYMEHEKè^FHFMKXMEé ÜíMKLDXH^DåMHKè^HLKè^HLKFHDVYFJDXKYè^MEHÛDLMJDFMDLYHKEHJMè^FHWMäë^JXKè^MEHOKFVDFKGEMEHåMäVEbMEHVEbHbDåMKHK^JMHUJGäMYYKGEDXKFëFaHK^JM DåYGXVFMHîMJXëêXKè^ØMKFaHK^JMEHSVFHVEbHK^JMHîLYKè^FHYè^ëFZMEHWMXMJEFéHæDYHíDJHKEHbMEHçD^JMEHëìćHVEbHëìćöHKEHÛDLåGbYè^DaHDXYHíKJ JMWMXLëêKWH_GEHU^EGLHUME^HåKYHKEYHîGJäMXbHbMJHTGFMEHÛ^LMJHDVYYè^íëJLFMEHVEbHbKMHåMJ÷è^FKWFMHOFJDêMHEDè^H]MDØHòVGEWHåMäV^JMEé ãFíDHä÷EäZM^EHçD^JMHYIëFMJHLDè^FMHKè^HMKEMHë^EXKè^HIGYKFK_MHãJäD^JVEWHLKFHDVYFJDXKYè^MEHÛGXXMWMEaHbKMHLKJHñHKEHãJLDEWMXVEWHbMVFYè^MJ íJMKíKXXKWMJHñHä÷JHbKMYMEHJKYØDEFMEHãKEYDFZH_GEHbMJHZÙIJKGFKYè^MEHñWMEFVJH\]MíYHíGJèMðHMLIäG^XMEHíVJbMEéHñVäHbMJHOFJMèØMH_GEHOIXKFHDEHbMJ ñbJKDØ÷YFMHåKYHODJD`M_GHLVêFMEHíKJHVLYFJKFFMEMYHØJGDFKYè^MYHPMJJKFGJKVLaHYIëFMJHbKMHÛDLIäXKEKMEHbMJHOMJåMEHVEbHbMJHLVYXKLKYè^MEHìGYEKDØME bVJè^óVMJMEéHREHODJD`M_GHLVêFMEHíKJHLM^JäDè^HDLHPDWHZíKYè^MEHbMLHìMFGEØXGFZHbMYHíMJEYM^ZMEFJVLYHVEbHbMLHbVJè^HìMYè^VêHYè^íMJ åMYè^ëbKWFMEHêGXKbDÙHREEH÷åMJHbKMHYGWMEDEEFMHOEKIMJYHñXXMÙHJDYMEaHíGHLDEHKEYHíDbMEØJMVZHbMJHOè^DJäYè^÷FZMEHbMYH[MEMJDXHSXDbKďHWMJKMFéHãY íDJHbDYHMKEZKWMHSDXHKEHLMKEMLHXDEWMEHìMJVäYXMåMEaHbDêHKè^HLKè^HKEHMKEMHØVWMXYKè^MJMHïMYFMHØXMLLFMéHñVè^HåMKHbKMYMLHãKEYDFZHØDLHZVHbME DVYFJDXKYè^MEH\SDFMYðHMKEH^MJZXKè^MYH[Mä÷^XHbMJHÛDLMJDbYè^DäFHVEbHbMJHñEMJØMEEVEWHDVäéHñåMJHDXYHñYKDFMHYKM^FHLDEHbKMYMHíJMLbXKEWMHDVYHbML ED^MEHí÷EäFMEHÛGEFKEMEFH_KMXXMKè^FHLKFHDEbMJMEHñVWMEé ÜVHbMLHØXMKEMEHñääMEaHbMJHEDè^H]D^JVEWYJMYFMEHWJMKäFaH^DåMEHYKè^HZíMKHÛDFZMEHWMYMXXFéHOKMHYFJMVEMEHäJMKH^MJVLéHRè^HMJäD^JMaHbDêHLDEHDVä bKMYMJHOVEbDQREYMXHMåMEYGHVEWMEKMJFHêVEbMäXMKYè^H_MJZM^JFHíKMHKEHZD^XJMKè^MEHDEbMJMEHòëEbMJEHñYKMEYaHbDêHbKMHÛDFZMH`MbGè^HDXYHVE^MKLXKè^Ma LDWKYè^MHÛJMDFVJHWKXFéHïMJHDVäHPKLGJHMKEMHÛDFZMHFÚFMFaHYGHåMYDWFHbMJHñåMJWXDVåMaHYMKH_MJäXVè^FHåKYHKEYHYKMåFMH[XKMbéHïM^MHbMLHDVäWMåD^JFME òMKè^EDLaHbMLHYKè^HMKEMHÛDFZMHZVHYM^JHWMEë^MJFH^DFéHæMJHPGFMHí÷JbMHbDEEHDXYHåÚYMJH[MKYFHíKMbMJDVäMJYFM^MEé íMFKYè^KYLVYHVEbHêMKbMEFVLHåXMKåMEH^KMJHFKMäH_MJíVJZMXFéHOGHíMJbMEHbKMHJKMYKWMEaHYMMWëEWKWMEHÛJGØGbKXMaHbKMHÚYFXKè^H_GEHìDVèDVHbKM Û÷YFMEWMíëYYMJHVEbHbKMHíXVêL÷EbVEWMEH_MJVEYKè^MJEaHDXYHïKMbMJWMåVJFHXëEWYFH_MJYFGJåMEMJHñ^EMEH_MJM^JFéHìMKHbMEHæGJäåMíG^EMJEH^DåME YKè^HîJYIJVEWYLÙF^MEHMJ^DXFMEaHbKMHbMJHãJbMHbKMHTGXXMHMKEMJHSVFFMJHZVíMKYMEaHZVHbMJHDXXMHSMEYè^MEHEDè^HbMLHPGbH^MKLØM^JMEaHíë^JMEbHbKM OGEEMHDXYHîMJØÚJIMJVEWHLëEEXKè^MJHÜMVWVEWYØJDäFHWKXFéHæKMHãKEWMåGJMEMEHXMåMEHZVbMLHKEHbMJHíVJè^FH_GJHLDWKYè^MEHÛJëäFMEHVEbHåÚYME [MKYFMJEé
æMJHYMWEMEbMHC^JKYFVYH_GEHæKXK æKXKaHKLHSëJZHøÖÖ× ïKMHYKè^HbDYHíMYF^DXFMEHDLHMJMJåFMEHñEKLKYLVYHLKFHbMLH÷åMJYè^íMEWXKè^MEHìMØMEEFEKYHZVLHØDF^GXKYè^MEH[XDVåMEH_MJMKEåDJMEHXëêFaHLKFHbMJ FKMäMEHíJÚLLKWØMKFaHbKMHKè^HåMKLHYGEEFëWXKè^MEHêGè^DLFHDLHSGJWMEHbMYHWXMKè^MEHPDWMYHKEHbMJHÛDF^MbJDXMH_GEHæKXKHåMGåDè^FMEHØGEEFMaHåXMKåF ä÷JHbMEHñVêMEYFM^MEbMEHJëFYMX^DäFé æDYH[GFFMY^DVYHíDJHåKYHDVäHbMEHXMFZFMEHUXDFZHWMä÷XXFéHRè^HíDJHbMJHMKEZKWMHïMKêMHKEHbKMYMJHbKè^FHWMbJëEWFMEHîMJYDLLXVEWéHæKMHSMYYM MEFYIJDè^HbMLHYè^XKè^FMEHTKFVDXHbMYHÜíMKFMEHîDFKØDEKYè^MEHÛGEZKXYéH[MåMFMFaHWMYVEWMEHVEbHWMIJMbKWFHíVJbMHDVäHUGJFVWKMYKYè^éHæMJH[MKYFXKè^M íDJHPKLGJMYMéHîEFMJHbMEHSKEKYFJDEFMEHåMäDEbMEHYKè^HDVè^H`VEWMHSëbè^MEéHæKMHÛGLLVEKGEaHZVHbMJH`MbMJHñEíMYMEbMHDEHbMEHñXFDJHFJDFaHíVJbM _GEHMKE^MKLKYè^MEHNJbMEYYè^íMYFMJEHWMJMKè^FéHREHæKXKHWKåFHMYHEGè^HMKEMHDEbMJMHWJGêMHØDF^GXKYè^MHÛKJè^MaHíGHbMJH[GFFMYbKMEYFHKEHbMJHXGØDXME PMFVLQOIJDè^MHDåWM^DXFMEHíKJbéHæKMHMEFJ÷èØFMHREåJVEYFHbMJH[XëVåKWMEHíDJHåMMKEbJVèØMEbé ñLHîGJDåMEbHbMJHOGEEFDWYLMYYMHVEbHLMKEMYH[MåVJFYFDWMYH^DFFMHLKJHbMJHìKYè^GäH_GEHæKXKaHSGEYKWEGJMHCDJXGYHìMXGaHMKEMHñVbKMEZHWMíë^JFé æMJHØXMKEWMíDè^YMEMaHVLYKè^FKWHäGJLVXKMJMEbMHSDEEaHbMJHMKEMHíMKêMHOGVFDEMHLKFHXKXDHÛEÚIäMEHFJVWaHYD^HØMKEMYíMWYHíKMHMKEHíJMK^MKFY^MXbHGbMJ MKEHZVLHSDJFÙJKVLHMEFYè^XGYYMEMJHæKMEMJH[GFFMYHDVYéHæMJHOMè^ZKW`ë^JKWMHíKJØFMHYGWDJHMKEHíMEKWHYè^÷è^FMJEHVEbH^÷FMFMHYKè^aHZVHbME IGXKFKYè^MEHîGJWëEWMEHKEHYMKEMJH^DJFHWMIJ÷äFMEHæKÚZMYMHOFMXXVEWHZVHEM^LMEé ÜVJHÜMKFHbMJHNØØVIDFKGEHbVJè^HbKMHTMIVåXKØHREbGEMYKMEaHíGHLM^JHDXYHEMVEZKWHUJGZMEFHbMJHøøÖHSKXXKGEMEHãKEíG^EMJHYKè^HZVJHìGFYè^DäFHbMY UJGI^MFMEHSG^DLLMbHåMØMEEMEaH^DFFMHCDJXGYHìMXGHbMEHC^JKYFMEHYMKEMJHêMKLDFHíKJØYDLMEHOè^VFZHWMíë^JFéHæKMHWMKYFXKè^MHï÷JbMHbMY íJKMbMEYEGåMXIJMKYFJëWMJYH_MJYMFZFMHK^EHKEHbKMHòDWMaHbKMHñVäLMJØYDLØMKFHbMJHïMXFÚääMEFXKè^ØMKFHDVäHbKMYMEH_MJXGJMEMEHOIJMEWMXHUMFJKHZVHXMEØME VEbHKEHYMKEMJHÛDF^MbJDXMHbMEH_MJäGXWFMEH[XëVåKWMEHMKEHTMäVWKVLHZVHåKMFMEé OM^JH_KMXHDVäYè^XVêJMKè^MJHDXYHbDYHIJGFGØGXXDJKYè^MHPJMääMEHLKFHCDJXGYHìMXGHíDJHLMKEMHæKYØVYYKGEHLKFHbMLHIGJFVWKMYKYè^MEHUDFMJHíMXKIMa _MJLVFXKè^HMKEHçMYVKFaHbMEHbMJHîDFKØDEHbMLHWMKYFXKè^MEHêKJFMEH_GEHPKLGJHDXYHTDFWMåMJHZVJHOMKFMHWMYFMXXFH^DFFMéHæMJHUDFMJHED^LHØMKEHìXDFFH_GJ bMEHSVEbéHãJH÷åFMHYè^DJäMHÛJKFKØHDEHbMJHLKYMJDåXMEHSKYYKGEYDJåMKFHbMJHIGJFVWKMYKYè^MEHÛGXGEKDX^MJJMEaHbKMHZíDJHÛGEFDØFMHZVHbME OFDLLMY^ëVIFXKEWMEH^KMXFMEaHbKMHSDYYMHbMJHMKEäëXFKWMEH\REbKWMEMYðH`MbGè^HKEHK^JMLH^MKbEKYè^MEHñåMJWXDVåMEHåMXKMêMEéHñXYHbKMHODè^íDXFMJHbMY \ãYFDbGH]G_GðHKLHçD^JHëìćöHbKMHREYMXHäXVè^FDJFKWH_MJXKMêMEaHíDJMEHXMbKWXKè^HbJMKêKWHUJGZMEFHbMJHNYFQHPKLGJMYMEHZVLH[XDVåMEHbMJHJÚLKYè^ME ÛKJè^MHåMØM^JFé æKMHKEbGEMYKYè^MHñbLKEKYFJDFKGEHIJDØFKZKMJFMHIJGHäGJLDHMKEMHåMLMJØMEYíMJFMHJMXKWKÚYMHPGXMJDEZaHbKMHYè^GEHbMJHOFDDFYWJ÷EbMJHOVØDJEGHLKF YMKEMEHP^MYMEHbMJH\UDEèDYKXDðH_GJWMWMåMEH^DFFMéHæKMH`D_DEKYè^MEHSKXKFëJYH^DFFMEHìKYè^GäHìMXGaHbMEHYKMH_MJWMåXKè^HZVHLDEKIVXKMJMEHYVè^FMEa MJ^MåXKè^MHÜVWMYFëEbEKYYMHWMLDè^FéHOKMH^DFFMEHYGWDJHbMEHìDVHbMJHÛDF^MbJDXMH_GEHæKXKHVEbHbKMHãJJKè^FVEWHbMJHWMíDXFKWMEHC^JKYFVYQOFDFVMHDL CDIHíDFVèVLDHäKEDEZKMJFé æGè^HbKMYMHìML÷^VEWMEaH^MDJFYHDEbHLKEbYHbMJHMJGåMJFMEHUJG_KEZHZVHWMíKEEMEaHäKMXMEHDVäHVEäJVè^FåDJMEHìGbMEaHZVLDXHZVJHWXMKè^MEHÜMKF `MbMYHIGXKFKYè^MHñVäåMWM^JMEHWEDbMEXGYHVEFMJbJ÷èØFHíVJbMéHæKMHKEbGEMYKYè^MEHìM^ÚJbMEH_MJXDEWFMEH_GEH`MbMLHNYFQPKLGJMYMEaHbDêHMJHYMKEM TMXKWKGEYZVWM^ÚJKWØMKFHbMØXDJKMJMéHNääKZKMXXHWMbVXbMFHEMåMEHbMLHDXXMYHåM^MJJYè^MEbMEHRYXDLHíDJMEHbKMHØDF^GXKYè^MHVEbHbK_MJYMHIJGFMYFDEFKYè^M ÛGEäMYYKGEMEHYGíKMHêKEbVKYLVYHVEbHìVbb^KYLVYéHïMJH`MbGè^HØMKEMHDEMJØDEEFMH[XDVåMEYZVWM^ÚJKWØMKFHDEWMåMEHØGEEFMaHWMJKMFHKEHbME îMJbDè^FaHMKEHWGFFXGYMJHÛGLLVEKYFHVEbHDEHYFDDFYäMKEbXKè^MEHîEFMJEM^LMEHåMFMKXKWFHZVHYMKEé ïDYHbMEHæGLKEKØDEMJQHVEbHíJDEZKYØDEMJLÚEè^MEHòVYKFDEKMEYHKEH_KMJHçD^J^VEbMJFMEHEKè^FHWMXVEWMEHíDJaHbDYH_GXXåJDè^FMHbMJHKEbGEMYKYè^M æKØFDFGJHOV^DJFGHåKEEMEHíMEKWMJHSGEDFMéHæKMHNYFQPKLGJMYMEaHbKMHYKè^HbMLHRYXDLH^DJFEëèØKWaH`DHLKXKFDEFH_MJíMKWMJFMEaHåMØM^JFMEHYKè^H`MFZF LDYYK_HZVLHC^JKYFMEFVLaHXKMêMEHYKè^HFDVäMEHVEbHDXYHÛDF^GXKØMEHJMWKYFJKMJMEéHîGEHbJMKêKWHUJGZMEFHYè^EMXXFMHK^JMH[MLMKEbMHDVäHYMEYDFKGEMXXMHìö UJGZMEFé æDåMKH^DEbMXFMHMYHYKè^HbVJè^DVYHEKè^FHEVJHVLHGIIGJFVEKYFKYè^MHñEIDYYVEWHGbMJHGåMJäXëè^XKè^MHÛGE_MJYKGEéHæMJHêMKXKWMH[MKYFHLVêHKEHbME çD^JMEHbMJHKEbGEMYKYè^MEHíJMLb^MJJYè^DäFHYMKEMH[EDbMH÷åMJHbKMHEMVMEHPëVäXKEWMHMJWGYYMEH^DåMEaHYGHLMKEFMHUDFMJHíMXKIMHXëè^MXEbéHæMJ \èJMDFGJHYIKJKFVYðHYMKHLKFHíVEbMJYDLMJHïKJØVEWHKEHãJYè^MKEVEWHWMFJMFMEaHDVè^HíMEEHEKè^FHDXXMHb÷YFMJMEHSÙF^MEH^MKbEKYè^MJHRWEGJDEZHbVJè^ YMKEMHãJXMVè^FVEWH_MJbJëEWFHíVJbMEé æMJHìMJDFMJHbMYHìKYè^GäYHíDJHYMXåYFH_MJíVEbMJFaHíKMHWJ÷EbXKè^HbMJH[XDVåMHC^JKYFKaH_GJHDXXMLHbKMHîMJM^JVEWHbMJHçVEWäJDVHSDJKDaHbKMHKL IGJFVWKMYKYè^MEHìMJMKè^HYFMFYHLKFHbMJHSDbGEEMEMJYè^MKEVEWH_GEHíDFKLDH_MJØE÷IäFHKYFaHåMKHbMEH]MGI^ÙFMEHïVJZMXEHYè^XVWéHæMJHÛDF^GXKZKYLVY MKWEMFMHYKè^HGääMEåDJHEKè^FHEVJHZVJHbMLGEYFJDFK_MEHñåXM^EVEWHbMJH^DXåGääKZKMXXMEHOFDDFYJMXKWKGEHbMYHRYXDLéHæKMHÛKJè^MHUMFJKHíVJbMHZVL ODLLMXQaHZVLHÛJKYFDXXKYDFKGEYIVEØFHbMYHGYFQFKLGJMYKYè^MEH]DFKGEDXKYLVYaH`DHYKMH_MJXKM^HbMLHåMíDääEMFMEHïKbMJYFDEbHMKEMEHWMKYFXKè^MEHRLIVXYé æKMYMYHSDXHYMKMEHMYHbKMHC^JKYFMEHVEbHEKè^FHbKMHSVYXKLMHWMíMYMEaHbKMHYKè^HåMJMKFHäDEbMEaHMKEMEH\êMKXKWMEHÛJKMWðaHZVLKEbMYFHMKEMEH\åMXXVL `VYFVLðHDVYZVJVäMEHVEbHYKè^HLKFHbMJHïDääMHKEHbMJHêDEbHDVäZVXM^EMEé UDFMJHíMXKIMHYFMXXFMHbKMHEDè^bMEØXKè^MaHØJKFKYè^MHíJDWMaHGåHbKMHUëIYFMHbMJHXMFZFMEHçD^JZM^EFMHEKè^FHMKEMLHäDFDXMEHRJJFVLHMJXMWMEHYMKMEaHDXYHYKM bMJHìMäJMKVEWYF^MGXGWKMaHbKMHbMLHSDYYMEDVäYFDEbHbMJHñJLMEHVEbHãEFJMè^FMFMEH_GJHDXXMLHKEHòDFMKEDLMJKØDHMKEMHJMXKWKÚYMHTMè^FäMJFKWVEWaH`D MKEMHWÚFFXKè^MHïMK^MH_MJXKM^MEH^DåMaHbMEHT÷èØMEHØM^JFMEHVEbHKEHK^JMJHíVJè^FH_GJHbMJHñVYåJMKFVEWHbMYHÛGLLVEKYLVYHbKMHYØDEbDXÚYMHñJJGWDEZ bMJHäMVbDXMEHNåMJYè^Kè^FHWMäÚJbMJFHVEbHK^JHYGWDJHñJWVLMEFMHä÷JHbKMHîMJíMKWMJVEWH`MbMJHíGJLHYGZKDXMJHãJEMVMJVEWHWMXKMäMJFH^ëFFMEé OFDFFHbKMHØDF^GXKYè^MEH[XëVåKWMEHZíKYè^MEHTKGH[JDEbMHVEbHíMVMJXDEbHLKFHMEW^MJZKWMEHVEbHJMDXKFëFYäMJEMEHãJLD^EVEWMEHZVJHÛMVYè^^MKFHVEb SGEGWDLKMHZVHåMbJëEWMEaH^ëFFMHbKMHJÚLKYè^MHÛVJKMHíG^XHåMYYMJHbDJDEHWMFDEaHbKMHTM_GXFMHWMWMEHbKMHñVYåMVFVEWHbVJè^HbKMHTMKè^MEHVEb Sëè^FKWMEHZVHbVXbMEHVEbHZVHMJLVFKWMEéHæDLKFHíëJMH_MJLVFXKè^HDVè^HbMJHíDè^YMEbMEHêKEíMEbVEWHYGH_KMXMJHXDFMKEDLMJKØDEKYè^MJHÛDF^GXKØMEHZV bMEHDLMJKØDEKYè^MEHOMØFMEaHK^JMJHñåØM^JH_GEHbMEHãbKØFMEHbMYHîDFKØDEYaHbMLHñåWXMKFMEHKEHbKMHåKZDJJMEHTKFVDXMHbMJHã_DEWMXKØDXMEHDVYHbMEHîOñ MKEHTKMWMXH_GJWMYè^GåMEHíGJbMEé ãKEHDEbMJMJHYè^íMJMJHíM^XMJHbMYHÛGEZKXYHîDFKØDEHRRH^DåMHbDJKEHåMYFDEbMEaHbKMH÷åMJXKMäMJFMHòKFVJWKMHK^JMYHFJKVLI^DXMEH[XDEZMYaHK^JMY IJDè^F_GXXMEHÜMJMLGEKMXXYHZVHåMJDVåMEaHbKMHbMEHãXMEbMEHVEbHæDJåMEbMEHYè^GEHKEHbKMYMLHPDXHbMJHPJëEMEHbMEHñVYåXKèØHDVäHbKMHêMJJXKè^ØMKFHbMY UDJDbKMYMYH_MJLKFFMXFH^ëFFMéHñVäHPKLGJQòMYFMH^DåMHYKè^H`MbMEäDXXYHMJíKMYMEaHbDêHbMJHYGZKDXJM_GXVFKGEëJMHñVäYFDEbHè^JKYFXKè^MJH[VMJJKXXMJGYHYM^J íG^XHbMJHSM^JVEWHVEbHîMJFKMäVEWHbMYHè^JKYFXKè^MEH[XDVåMEYHbKMEMEHØÚEEMéHOFDFFHbMYYMEH^DåMHTGLHbDYHYFJMKFåDJMHãKEFJMFMEHä÷JHbKMHWÚFFXKè^M NääMEåDJVEWHbMEHSVb`D^KbKEHbMYHUJGI^MFMEHSG^DLLMbH÷åMJXDYYMEé
ù
REHVEYMJMJHPDäMXJVEbMH_GEHñJMKDHìJDEèDHMJíë^EMHKè^HLMKEMEHìMYVè^HåMKHSGEYKWEGJMHìMXGaHDåMJH^÷FMHLKè^aHbDYH[MYIJëè^HLKFHUDFMJHíMXKIM íKMbMJZVWMåMEéHñXYH[MåVJFYFDWYWMYè^MEØHíKJbHLKJHMKEMHìDYMåDXXØDIIMHLKFHbMLHYè^íDJZQJGFMEHïDIIMEHPKLGJQòMYFMYHYGíKMHMKEH\PDKYðQOè^DXHKE bMEHòDEbMYäDJåMEH÷åMJJMKè^FéHSDEHYGXXMHbMEHìKYè^GäHìMXGHEKè^FHVEFMJYè^ëFZMEaHíMEbMFHMKEHXGØDXMJHUGXKFKØMJHMKEéHñXYHbKMHREbGEMYKMJHbKMHC^JKYFVYQ OFDFVMH÷åMJHbMJHìVè^FHDVäJKè^FMFMEaH^DFFMH[MEMJDXHOV^DJFGHDEWMGJbEMFaHbDêHYKMHWMEDVHøćHSMFMJH^Gè^HJDWMEHYGXXMéHçMbMJHSMFMJHí÷JbMHMKEM UJG_KEZHREbGEMYKMEYHYÙLåGXKYKMJMEHKEØXVYK_MHbMJHZVYëFZXKè^MEHøćéHîMJíDXFVEWYMKE^MKFH_GEHæKXKéHæMJHYFKXXMaHYè^Lëè^FKWMHUJëXDFH^DåMHYKè^HYFJKØF WMíMKWMJFaHbKMYMHIGXKFKYè^MHñEYIKMXVEWHZVHDØZMIFKMJMEaHVEbHMJH^DåMHbD_GEHñåYFDEbHWMEGLLMEaHbDYHOFDEbåKXbHYMKEMYHãJXÚYMJYHZVHYMWEMEé ñXYHUDIYFHçG^DEEMYHUDVXHRRéHKLHçD^JHëì×ìHKEHæKXKHOFDFKGEHLDè^FMaH^DFFMHMJHYKè^HíMEKWMJHJMYFJKØFK_H_MJ^DXFMEéHR^LHWKEWHMYHbDJVLaHbMJ [MLMKEbMH_GEHYMè^YHåKYHYKMåMEHSKXXKGEMEHÛDF^GXKØMEaHbKMH÷åMJHWDEZHREbGEMYKMEH_MJYFJMVFHXMåMEaHbDYHYFDDFXKè^MHïG^XíGXXMEHçDØDJFDYHZVHYKè^MJEé ÜVH`MEMLHÜMKFIVEØFHJMè^EMFMH`DHEKMLDEbHbDLKFaHbDêHïDY^KEWFGEHVEbHCDEåMJJDHMKEHIDDJHçD^JMHYIëFMJHYGHIXÚFZXKè^HbDYHOFMVMJH^MJVLíMJäMEHVEb bKMHíGJbMJVEWHbMJHFKLGJMYKYè^MEHOMIDJDFKYFMEHVEFMJYF÷FZMEHí÷JbMEé \ïKJHYKEbHZVLHOIKMXåDXXHbMJHSëè^FMHWMíGJbMEðaHåMYè^íMJFHYKè^HLMKEHPKYè^EDè^åDJHãbVDJbGaH\VEbHíKJHYKEbHZVHYFGXZaHVLHbKMHîDYDXXMEJGXXM MKEMYHGYFDYKDFKYè^MEHÛVíDKFHZVHYIKMXMEéðHRLH÷åJKWMEHYMKMEHbKMHñVYFJDXKMJHYKè^HbMJHDXXWMLMKEMEHSKêYFKLLVEWHíG^XHEKè^FHåMíVêFéHìKY^MJHYMKHMY EVJHZVHOè^DJL÷FZMXEHZíKYè^MEHbMEHìXDV^MXLMEHbMJHî]NHVEbHDåMEFMVMJEbMEHTMåMXXMEHWMØGLLMEéHCDEåMJJDHYGXXMHYKè^H^÷FMEaHYKè^HØJKMWMJKYè^ LKFHYMKEMEHVELKFFMXåDJMEH]Dè^åDJEHDEZVXMWMEéH[MíKêH^DEbMXMHMYHYKè^HåMKHbMEHMKE^MKLKYè^MEHìDEbMEHLM^J^MKFXKè^HVLHÛJKLKEMXXMaHDåMJHMYHíëJM `DHEKè^FHbDYHMJYFMHSDXaHbDêH[DEG_MEHYKè^HKEH^MJGKYè^MHUDFJKGFMEH_MJíDEbMXFMEé æDYHWJDEbKGYMHíDJåMEYIKMXHbMYHFJGIKYè^MEHOGEEMEVEFMJWDEWYHåMMKEbJVèØFHLKè^HKLLMJHíKMbMJaHíKMHDVè^HbMJH\LKJDWMHbGJÝðHbMYHDåMEbXKè^ME NZMDEYaHDVYHbMYYMEHPKMäMHçGYÝQSDJõDHbMHêMJMbKDHKEHYMKEMJHêVXbKWVEWHDEHbKMHCGEóVKYFDbGJMYHbKMH_MJ^MKêVEWY_GXXMEHOFMJEåKXbMJHbMJH]MVMEHïMXF DVäYFMKWMEHYD^éHìMYKEEXKè^ØMKFHYFMXXFHYKè^HMKEaHíë^JMEbHíKJHDVäHbDYHTVKEMEäMXbH_GEHæKXKHZVYFMVMJEéHRELKFFMEHbMJHPJ÷LLMJHMEFbMèØMHKè^HbKM Yè^EMMíMKêMHSDJLGJQHGbMJH[KIYäKWVJHVEYMJMJHòKMåMEHíJDVH_GEHíDFKLDéHÜVHK^JMEHí÷êMEHØEKMEHbKMHbJMKHIGJFVWKMYKYè^MEHêKJFMEØKEbMJaHbMEMEHbKM SDbGEEDHñHbMJHòMWMEbMHZVäGXWMHñHbJMKH[M^MKLEKYYMHDE_MJFJDVFMéH]VJHbMLHêMKXKWMEHîDFMJHb÷JäMEHYKMHMEF^÷XXFHíMJbMEé ãKEMHîGJDVYYDWMHåMFJDäHDEWMåXKè^HbKMHãJJMFFVEWHTVêXDEbYHDVYHbMEHODFDEYØXDVMEHbMYHÛGLLVEKYLVYaHVEbHbKMYMHUJGI^MZMKVEWH^DFHYKè^HåMJMKFY åMíD^J^MKFMFaHíKMHKè^HåMKHLMKEMEH`÷EWYFMEHTMKYMEHZíKYè^MEHSGYØDVHVEbHïXDbKíGYFGØHäMYFYFMXXMEHØGEEFMaHíMEEHbKMYMHT÷èØåMYKEEVEWHDVäHbDY è^JKYFXKè^MHãJåMHbMJHÛKMíMJHTVYHDVè^HLKFHWJGêQJVYYKYè^MLHC^DV_KEKYLVYHVEbHåÙZDEFKEKYè^MJHãJYFDJJVEWHMKE^MJWM^Fé ñVäHbMLHêÚ^MIVEØFHbMJHIGJFVWKMYKYè^MEH]MXØMEJM_GXVFKGEH^DFFMHKè^HëìćöHbKMHïDXXäD^JFYYFëFFMH_GEHíDFKLDHDVäWMYVè^FéHRè^HíDJHEKè^FHDXYHUKXWMJ WMØGLLMEéHæKMHUJGäKFWKMJHbMJHæM_GFKGEDXKME^ëEbXMJHVEbHbMJH^KLLMXåXDVMHGbMJHJGYDJGFMHÛKFYè^HYVXIKZKDEKYè^MJHêMKXKWMEåKXbMJHYKEbHLKJHZVíKbMJé æMEEGè^HíDJHMYHMKEHZVFKMäYFHMKEbJVèØY_GXXMYaHDJè^DKYè^MYHOIMØFDØMXaHDXYHMKEMHUJGZMYYKGEH_GEHì÷êMJEaHDVäHbMLHìDVè^HØJKMè^MEbaHYKè^HbML êMKXKWFVLHL÷^YDLHEë^MJFMaHbDJVEFMJHLM^JMJMHOGXbDFMEHKEHîEKäGJLaHbKMHíG^XHbMJHêKLLMXYØÚEKWKEHbDEØMEHíGXXFMEaHbMLHF÷èØKYè^MEHìVYè^ØJKMW _GEHñEWGXDHVE_MJXMFZFHMEFØGLLMEHZVHYMKEé ñLHTDEbMHbMYHêMKXKWFVLYHYDLLMXFMEHYKè^HZD^XJMKè^MH[XëVåKWMH_GJHMKEMJHØXMKEMEHÛDIMXXMHKLHJVYYKYè^QGJF^GbGðMEHOFKXéHæGJFHíVJbMHDEWMåXKè^ bDYHNJKWKEDXHbMJHOè^íDJZMEHSDbGEEDH_GEHÛDZDEHDVäåMíD^JFaHbDYHDVäHíVEbMJåDJMHïMKYMHKEHbMEHìMYKFZHbMJHJÚLKYè^MEHÛKJè^MHWMXDEWFHíDJé æKMYMYHìKXbHbMJH[GFFMYLVFFMJH^DFFMHbKMHêMMJYè^DJMEHRíDEYHbMYHOè^JMèØXKè^MEHWMXMKFMFaHDXYHMJHZVJHãJGåMJVEWHbMYHLVYMXLDEKYè^MEHÛ^DEDFYH_GE ÛDZDEHDEHbMJHSKFFXMJMEHïGXWDHDVY^GXFMHVEbHbMLHMEbXGYMEHPDFDJMEQçGè^H÷åMJHbDYHêMKXKWMHTVêXDEbHMKEHãEbMHYMFZFMé ñXYHUDIYFHçG^DEEMYHUDVXHRRéHbKMYMYHOKEEåKXbHIJDíGYXDíKYè^MJHíJÚLLKWØMKFaHbDYHDVè^H_GEHbMEHXDFMKEKYè^MEHC^JKYFMEH_MJM^JFHíKJbaHbML JVYYKYè^MEHUDFJKDJè^MEHñXMðM`HRRéHZVJ÷èØMJYFDFFMEHíGXXFMaHYFKMêHMJHDVäHYè^JGääMHñåXM^EVEWHbMJHNYFØKJè^MéHñLHãEbMHíVJbMHbKMHíVEbMJFëFKWM RØGEMaHYGHMJäV^JHKè^HKLHÛJMLXH_GEHÛDZDEaH_GEHbMEH÷åMJíKMWMEbHLVYXKLKYè^MEHìM^ÚJbMEHbMJHñVFGEGLMEHTMIVåXKØHPDFDJYFDEHKEHãLIäDEW WMEGLLMEHVEbHDEHbKMHGJF^GbGðMHêKMJDJè^KMHíMKFMJWMXMKFMFéHãKEMHYMXFYDLMHLÙYFKYè^MHîMJíKJJVEWHYIJDè^HDVYHbKMYMLHîGJWDEWaHMKEMHåKZDJJM òMWMEbMHbMJH[MWMEíDJFé ïKJHMJJMKè^MEHbDYHêGFMXHPKLGJHJMè^FZMKFKWH_GJHbMJHEëè^FXKè^MEHñVYWDEWYYIMJJMéHñLHUGJFDXHVEYMJMJHêMJåMJWMHYFM^MEHbKMHåM^MXLFMEHSëEEMJ bMJHIGJFVWKMYKYè^MEH[VDJbDH]DèKGEDXHKEHK^JMJHYè^íMJMEaHYè^íDJZMEHSGEFVJHíKMHÛJKMWMJWMYFDXFMEHbMJHTMEDKYYDEèMHJMWXGYHVEbHíDè^YDLHDVä UGYFMEé
æKMH[M^MKLEKYYMHbMYHçMLMEKFME æKXKaHKLHSëJZHøÖÖ× æDYHì÷JGHLKFHbMEHÜMLMEFíëEbMEHYKM^FHíKMHMKEHìVEØMJHDVYaHVEbHbKMYMLHÜíMèØHYGXXHMYHíG^XHDVè^HbKMEMEéHñåMJHbMJHWMbVèØFMaHäJMVEbXKè^MHSDEE XëêFHYKè^HEKè^FHDELMJØMEaHbDêHMJHYFëEbKWH_GLHPGbHåMXDVMJFHíKJbéHSDJKHñXØDFKJKHKYFHMKEHôåMJXMåMEbMJHVEbHíMKêHVLHYMKEMHIJMØëJMHOKFVDFKGEéHRL ãJEYFäDXXHí÷JbMHbDYHæVFZMEbHòMKåíëè^FMJaHbKMHYMKEHMKEYFÚèØKWMYHñEíMYMEHåMíDè^MEaH_GEHWMJKEWMLH]VFZMEHYMKEéHæKMHïKEbYè^VFZYè^MKåMEHbMJ bJMKHòDEbJG_MJaHbKMH^KEFMJHMKEMJH^G^MEHSDVMJHWMIDJØFHYKEbaHíVJbMEHbVJè^HOFMKEí÷JäMHZMJFJ÷LLMJFaHVEbHMYHLDWHMKEHWMJKEWMJHPJGYFHä÷JHñXØDFKJK YMKEaHbDêHMYHbMEHÛDJGYYMEHbMJHî]NQTMIJëYMEFDEFMEHGäFHEKè^FHåMYYMJHMJWM^Fé îLHMKEHPJMääMEHLKFHOFDDFYIJëYKbMEFHçGYÝHTDLGEQêGJFDH^DåMHKè^HLKè^HWDJHEKè^FHåML÷^FéHæKMYMJHWXDFFJDYKMJFMHREFMXXMØFVMXXMaHbMYYMEHñVWME YFJMEWHVEbHMKEbJKEWXKè^H^KEFMJHbMJHJDEbXGYMEHìJKXXMHäVEØMXEaHWMEKMêFHbMEHTVäHMKEMYHC^GXMJKØMJYéHí÷JHbKMHL÷^YDLMEHÛGLIJGLKYYMHbMY IDJXDLMEFDJKYè^MEHOÙYFMLYHMJYè^MKEFHMJHbMEØåDJHVEWMMKWEMFéHæMJHDLFKMJMEbMHSKEKYFMJIJëYKbMEFHĈDEDEDH[VZL GaHbMYYMEHFJGFZKWMYH[MYKè^FHLKF bMLHWJDVLMXKMJFMEHC^MQ[VM_DJDQìDJFHbKMHîGJbMJYMKFMHbMYH\çGJEDXH]DèKGEDXMHOMLDEĐJKGðHZKMJFaHXëêFHYKè^HYÙYFMLDFKYè^H_MJXMVWEMEaHYMKFHMJHEDè^ bMLHäKEWKMJFMEHñFFMEFDFHbMYH_MJWDEWMEMEHSGEDFYHKEYHÜíKMXKè^FHWMJDFMEHKYFé OGH^DåMHKè^HLKè^HLKFHbMLHbJKFFMEHSDEEHKLHOFDDFaHLKFHSDJKHñXØDFKJKaH_MJDåJMbMFaHZVLDXHMJHG^EM^KEHbMJHKEFMJMYYDEFMYFMaHWMåKXbMFYFMHUGXKFKØMJ _GEHNYFQPKLGJHYMKEHb÷JäFMéHæMJH[MEMJDXYMØJMFëJHbMJHìMäJMKVEWYäJGEFHíTãPRòR]H_MJMKEKWFHMKEHWDEZMYHÛEëVMXH_GEHïKbMJYIJ÷è^MEHKEHYMKEMJ UMJYGEéHïë^JMEbHbMJHñEEMðKGEHYMKEMJHêMKLDFHbVJè^HçDØDJFDHíDJHMJHKEHbKMHDäJKØDEKYè^MHîGXØYJMIVåXKØHSGYDLåKØHDVYHWMíKè^MEéHîGEHSDIVFGHDVY ^DFFMHMJHñHWMYF÷FZFHDVäHbDYHbGJFKWMHIJGHYGí`MFKYè^MHTMWKLMHñHEMåMEHYMKEMJHPëFKWØMKFHDXYHêGè^Yè^VXbGZMEFHVEMJL÷bXKè^Hä÷JHbKMHîEDå^ëEWKWØMKF
NYFQPKLGJYHDWKFKMJFéHæDêHMYHbKMYMLHREFMXXMØFVMXXMEHWMXDEWaHEDè^HbMJHñVYJVäVEWHbMJHTMIVåXKØH_GEHæKXKHKLHSDKHøÖÖøHbDYHñLFHbMYHMJYFME SKEKYFMJIJëYKbMEFMEHZVH÷åMJEM^LMEaHMJYè^MKEFHKLHT÷èØåXKèØHMðFJMLH_MJíVEbMJXKè^éHñXØDFKJKHWM^ÚJFHEëLXKè^HbMJHíKEZKWMEHLVYXKLKYè^ME SKEbMJ^MKFHDEé æMEHñLMJKØDEMJEHVEbHbMEHñVYFJDXKMJEHíDJHbMJHYè^XDVMaHVEbVJè^YKè^FKWMHãðKXIGXKFKØMJaHbMJHDXYHÛGJDEWXëVåKWMJHKEHMKEMLHZVHìïHUJGZMEF ØDF^GXKYè^MEHòDEbH÷åMJHYG_KMXHãKEäXVêH_MJä÷WFaH_GEHñEäDEWHDEHEKè^FHWM^MVMJéHÜVbMLH^DFFMHMJHYKè^HKEHSGYDLåKØHíG^XHGbMJH÷åMXHZVHMKEML LKXKFDEFMEHOGZKDXKYLVYHåMØMEEMEHL÷YYMEéH[MíKYYMHCRñQñWMEFMEHVEFMJYFMXXFMEHK^LHKYXDLGQäVEbDLMEFDXKYFKYè^MHOÙLIDF^KMEaH`DaHíMJHíMKêa WM^MKLMHÛGLIXKZMEYè^DäFHLKFHbMLHOè^JMèØWMYIMEYFHãXHúDKbDé REHïKJØXKè^ØMKFHKYFHñXØDFKJKaHbMYYMEHíTãPRòR]HåMKHbMJHMJYFMEHUDJXDLMEFYíD^XHMKEMEH÷åMJíëXFKWMEbMEHOKMWHbD_GEFJVWaHíMbMJHMKEH_MJØDIIFMJ ÛGLLVEKYFHEGè^HMKEHØGJDEKYè^MJHíDEDFKØMJéHñåMJHYè^GEHØVJZHEDè^HYMKEMLHñLFYDEFJKFFHYD^HMJHYKè^HMKEMJHOMJKMH_GEHôåMJäëXXMEHDVYWMYMFZFéH]Kè^F EVJHYMKEMHTMYKbMEZaHDVè^HbKMHêëVYMJHYMKEMJHñEWM^ÚJKWMEHíVJbMEH_GEHìJDEbYFKäFMJEHDFFDèØKMJFaHbMJMEHêKEFMJLëEEMJHKLHæVEØMXHåXKMåMEéHñXY TMWKMJVEWYè^MäHíVJbMHMJHZVLHT÷èØFJKFFHWMZíVEWMEéHìMKHbMJHîGXØYåMäJDWVEWH_GEHøÖÖćHåM^DVIFMFMHYKè^HZíDJHbKMHíTãPRòR]HíMKFMJ^KEHDXY YFëJØYFMHíJDØFKGEHKLHUDJXDLMEFaHíVJbMH`MbGè^H_GEH`MbMJHTMWKMJVEWYåMFMKXKWVEWHDVYWMYè^XGYYMEéHOMKFbMLHIJGZMYYKMJFHMJHVEMJL÷bXKè^HWMWME MKEMEHDEWMåXKè^MEHïD^XåMFJVWHVEbHbKMHäXDWJDEFMHîMJXMFZVEWHbMJHîMJäDYYVEWéHñVYHYMKEMJHñåEMKWVEWHWMWMEHbDYHMJbJ÷èØMEbMHDLMJKØDEKYè^Q DVYFJDXKYè^MHUJGFMØFGJDFHLDè^FHMJHØMKEH[M^MKLEKYé REHbKMYMLHOKEEMHëVêMJFHMJHYKè^HDVè^aHíë^JMEbHKè^HK^LHWMWME÷åMJYKFZMéHRJWMEbíKMHØGLLFHLKJHYMKEHPÙIVYH_MJFJDVFH_GJéHOMKEHVLYKè^FKWMYa í÷JbKWMYHñVäFJMFMEHMJKEEMJFHDEHbMEHØDF^GXKYè^MEHìKYè^GäHìMXGaHbMLHMJHDXXMJbKEWYHMKEMHØGEYMJ_DFK_MH[JVEb^DXFVEWH_GJ^ëXFéHæMJ ãðUJMLKMJLKEKYFMJHFJëWFHMKEHJVEbMYHíMKêMYHÛëIIè^MEHDVäHbMLHWJDVMEHêDDJaHVEbHíKMHMYHYKè^Hä÷JHMKEMEHÛGJDEWXëVåKWMEHWMZKMLFaH^DFHMJHYKè^ MKEMEHYIëJXKè^MEHìDJFHíDè^YMEHXDYYMEéHOMKEMHñJFHZVHDJWVLMEFKMJMEHVEbHYMKEMH^ÚäXKè^MHÜVJ÷èØ^DXFVEWHWMWME÷åMJHMKEMLHñEbMJYWXëVåKWMEHJMK^F YMKEHîMJ^DXFMEHKEHbKMHTMK^MH`MEMJH\îXDLDðaH`MEMJHÛGJDEWMXM^JFMEHMKEaHbMEMEHKè^HKLHòDVäMHXDEWMJHçD^JZM^EFMHKLHWDEZMEHæDJQVXQRYXDLHKLLMJ íKMbMJHåMWMWEMFHåKEé REHbMEHñVWMEHñXØDFKJKYH_MJä÷WFHbKMHTMIVåXKØHPKLGJQòMYFMHEKè^FHMKELDXH÷åMJHbMEHOè^MKEHMè^FMJHOGV_MJëEKFëFHVEbHåMíMWFHYKè^HDLHTDEbMHbMY ñåWJVEbMYéHæKMH`÷EWYFMEH[MíDXFDØFMHåMYFëFKWMEHYMKEMHñVääDYYVEWéHãJHKYFHYKè^HYMXåYFHåMíVêFaHbDêHbKMHîGXØYJMIVåXKØHC^KEDaHbKMHKEHDXXM êKLLMXYJKè^FVEWMEHMðIDEbKMJFHVEbHãKEäXVêHWMíKEEFaHEGè^HXëEWYFHEKè^FHKEHbMJHòDWMHKYFaHbDYHôåMJWMíKè^FHñVYFJDXKMEYHVEbHbMJHLKFHK^L _MJå÷EbMFMEHîOñHZVHEMVFJDXKYKMJMEé æMJHîMJYVè^HUGJFVWDXYaHKEHæKXKHíKMbMJHíVêHZVHäDYYMEaHíMJbMHZíDJH_GEHbMLHDLFKMJMEbMEHUJëYKbMEFMEHbMJHãVJGIëKYè^MEHÛGLLKYYKGEaHSDEVMX ìDJJGYGaHXMå^DäFHVEFMJYF÷FZFaHJMbVZKMJMHYKè^HDLHãEbMH`MbGè^HDVäHMKEMHPJGFZJMDØFKGEéHæMJH_MJbKMEYF_GXXMH[MEMJDXHbMHOIKEGXDaHbMJHMEFYè^MKbMEbHDE bMJH]MXØMEJM_GXVFKGEHbMJHNääKZKMJMH_GEHòKYYDåGEHLKFWMíKJØFH^DFFMaHYMKHEVEHMKELDXHØMKEHC^DJXMYHbMH[DVXXMéH]Gè^H_KMXHíMEKWMJH^ëXFHMJH_GEHbML îMJYVè^HMKEKWMJHØVåDEKYè^MJHòM^JMJHVEbHøJZFMaHKEHNYFQPKLGJHJM_GXVFKGEëJMHOGXKbDJKFëFHZVHIJDØFKZKMJMEé NåHLKFHMKEMLHUVFYè^HbMJHKLHñVäåDVHåMäKEbXKè^MEHñJLMMHbMJH`VEWMEHTMIVåXKØHZVHJMè^EMEHYMKaHäJDWMHKè^HbMEH\ñXKLðHDVYHêDbJDLDVFéHñåMJ bMJHíKEØFHDåéHæKMHIDDJHìDFDKXXGEMaHbKMHVEFMJHbMLHìMäM^XHMKEMYHìJKWDbMWMEMJDXYHDVäWMYFMXXFHí÷JbMEaHYMKMEHñVYåKXbMJEHDVYHDXXMJHêMJJMEHòëEbMJ DVYWMXKMäMJFHVEbHMåMEYGíMEKWHä÷JHMKEMEHØGGJbKEKMJFMEHãKEYDFZHFDVWXKè^HíKMHbKMHEGFGJKYè^HØGJJVIFMHUGXKZMKéHæKMHEëè^YFMEHåXVFKWMEHîEJV^MEHYMKME åMJMKFYH_GJIJGWJDLLKMJFaHDåMJHbDåMKHí÷JbMEHEKè^FHKJWMEbíMXè^MHGääKZKMXXMEHOFDDFYGJWDEMHbMEHñVYYè^XDWHWMåMEaHYGEbMJEHbKMHMJMJåFME OIDEEVEWMEHZíKYè^MEHbMEHOFëLLMEéH\æKMYMJHPJKåDXKYLVYHMEFZKM^FHYKè^HbMLHîMJYFëEbEKYHbMYHïMYFMEYðaHXëè^MXFHñXØDFKJKé Oè^GEVEWYXGYMHÛJKFKØH÷åFHMJHDEHbMEHSDè^MEYè^DäFMEHbMJHîMJMKEFMEH]DFKGEMEéHæMJHREFMJEDFKGEDXMHïë^JVEWYäGEbYaHbMJHKEHNYFDYKMEHåMJMKFY YG_KMXHîE^MKXHDEWMJKè^FMFH^DåMaHØXDLLMJMHYKè^HDVè^HKEHæKXKHDEHbKMHæGWLDFKØHMKEMYH^MLLVEWYXGYMEHïKJFYè^DäFYXKåMJDXKYLVYéHæKMHUJëYMEZHbMJ ìXDV^MXLMH^DåMHDEbMJMJYMKFYHPKLGJQòMYFMHWMZíVEWMEaHMKEMHWJGFMYØMHíGJLHbMYHïMYFLKEYFMJQUDJXDLMEFDJKYLVYHEDè^ZVD^LMEéHæDEEHYGXXMHLDE YKè^HEKè^FHíVEbMJEaHíMEEHbMJHIJGäVEbMHIGXKFKYè^MHæKYIVFHEKè^FHDVäHbMEHìëEØMEHbMYHUDJXDLMEFYaHYGEbMJEHLKFHYè^DJäMJHSVEKFKGEHKEHKJWMEbMKEML æYè^VEWMXJM_KMJHDVYWMFJDWMEHíMJbMé ñXØDFKJKHKYFHYKè^HbMJH_MJXGJMEMEHTDEbIGYKFKGEHYMKEMYHSKEKYFDDFMYH_GXXHåMíVêFéHãJHíMKêaHbDêHMYHåMKHbMJH\ìMäJMKVEWðHPKLGJQòMYFMYH_GL KEbGEMYKYè^MEHçGè^H_GJJDEWKWHVLHbMEHìMYKFZHbMJH_GJWMXDWMJFMEHãJbÚXQHVEbHãJbWDY_GJØGLLMEHWKEWaHVLHbKMHREFMJMYYMEHbMJHWJGêME ãEMJWKMØGEZMJEMéHæDåMKHäJDWFHMJHYKè^aHGåHbKMHTMWKMJVEWH_GEHCDEåMJJDHYKè^HEKè^FHåMíVêFHYMKaHbDêHREbGEMYKMEHñHDXYHYKMHbKMHUJMKYWDåMHYMKEMJHøćé UJG_KEZHMJZíDEWHñHDVäHVEMJFJëWXKè^MHïMKYMH^MJDVYWMäGJbMJFHíVJbMéHæMJH]DFKGEDXKYLVYaHbMJHMLIäKEbXKè^MHOFGXZHbKMYMJH`VEWMEH]DFKGEHYMKHbVJè^ bKMHSKXKFëJKEFMJ_MEFKGEaHbKMHVEFMJHbMLHíKJLMEZMKè^MEHbMJHîMJMKEFMEH]DFKGEMEHYFDFFäDEbaHZVFKMäYFH_MJXMFZFHíGJbMEé æKMHìMä÷Jè^FVEWaHbDêHbDYHWMíDXFKWMHREYMXJMKè^aHbDYHZVYM^MEbYHYFJDFMWKYè^MYHVEbHíKJFYè^DäFXKè^MYH[MíKè^FHWMíKEEFaHbMLEëè^YFHKEHMKEM JDbKØDXMaHKEFGXMJDEFMHíGJLHbMYHRYXDLKYLVYHDåWXMKFMEaHbMLH\çK^DbKYLVYðHLDYYK_MEHÜVXDVäH_MJYè^DääMEHØÚEEMaHFMKXFHñXØDFKJKH`MbGè^HEKè^FéHñVè^ íMEEHbMJHíMYFXKè^MHÛDIKFDXKYLVYHbDZVHEMKWMaHYMKEMJHêDåWKMJaHbMLH^MLLVEWYXGYMEHãJíMJåHbMYH\Yè^íDJZMEH[GXbMYðHbMEHîGJJDEWHMKEZVJëVLME _GJHbMEHMXMLMEFDJMEH[MåGFMEHMKEMJHØGEYFJVØFK_MEHñVêMEIGXKFKØaHL÷YYMHïDY^KEWFGEHYKè^HEGè^HMKEMHTMK^MHYè^íMJíKMWMEbMJHíM^XWJKääMHXMKYFMEa M^MHbKMHOFKLLVEWHbMJH`D_DEKYè^MEHSDYYMEHKEHGääMEMaHLÚWXKè^MJíMKYMHJMXKWKÚYHLGFK_KMJFMHíMKEbYè^DäFHWMWMEHDXXMYHïMYFXKè^MHVLØKIIMéHæGè^HbKM ñVYFJDXKMJHYGXXFMEHYKè^HKEHDè^FHEM^LMEéHREHbMJHPKLGJQOMMHYMKHMKEHFKMäMJH[JDåMEHDVäWMJKYYMEHíGJbMEaHVEbHíMJHØÚEEMHYè^GEHWDJDEFKMJMEaHbDêHbMJ Eëè^YFMHDLMJKØDEKYè^MHUJëYKbMEFHYKè^HKEHREYVXKEbMHDLHãEbMHEKè^FHKEHMKEHë^EXKè^HFÚJKè^FMYaH_MJbMJåXKè^MYHOIKMXHMKEXKMêMHíKMH[MGJWMHïéHìVY^HKL YGWMEDEEFMEHìJGDbMJHSKbbXMHãDYFé
\ïDYH[GFFMYHîGJåMYFKLLVEWHíDJð TDKXDèGaHKLHSëJZHøÖÖ× íJëVXMKEHêGHÛ^DE^HSDKHP^ÙaHØVJZHP^ÙHWMEDEEFaH^DFHYKè^HåMKHbMJHíKJLDH\PKLGJH[XGåDXHòFbéðHVEMEFåM^JXKè^HWMLDè^FéHæDYHîEFMJEM^LMEaHbDYHYKè^ DVäHUäXDEZVEWMEHVEbHãðIGJFH_GEHÛDääMMHYIMZKDXKYKMJFMaHKYFHíG^XHbMJHMKEZKWMHEMEEMEYíMJFMHVEbHIJGäKFDåXMHìMFJKMåHDVäHNYFQPKLGJéHæMJHåMJVäXKè^M ãJäGXWH_GEHSDbMLGKYMXXMHP^ÙHKYFH_MJLVFXKè^HbDJDVäHZVJ÷èØZVä÷^JMEaHbDêHYKMHKEHODKWGEHEGè^HMKEMHYFJMEWMHñVYåKXbVEWHDXFMEHäJDEZÚYKYè^MEHOFKXY WMEGYYMEH^DFé ñEYGEYFMEHåMäKEbMFHYKè^H\PKLGJH[XGåDXHòFbéðHäMYFHKEHè^KEMYKYè^MJHêDEbéHæKMHòMKFVEWHGåXKMWFHMKEMLH`VEWMEaHbÙEDLKYè^MEH\OG^EHbMY êKLLMXYðaHbMJHZíDJHKEHæKXKHZVJHïMXFHØDLaHDåMJHMKEMJH_GJHZíMKH[MEMJDFKGEMEHDVYHbMJHUJG_KEZHÛíDEFVEWHMKEWMíDEbMJFMEHêDØØDQOKIIMHDEWM^ÚJFé
ñXXMHEMEEMEHK^EHìGåaHíDYHbMEHîLWDEWHMJXMKè^FMJFéHêKEFMJHYMKEMJHíJÚ^XKè^ØMKFHVEbHYFëEbKWHWVFMEHòDVEMH_MJåKJWFHYKè^HMKYMJEMJHãJäGXWYíKXXMéHSKF ë^EXKè^MJHãEMJWKMH^DFFMEHYKè^HYMKEMHîGJäD^JMEaHbKMHZVJHIGJFVWKMYKYè^MEHÜMKFHDXYHUXDEFDWMEQÛVXKYH÷åMJHSDèDGHMKEWMíDEbMJFHíDJMEaHbMEHïMWHEDè^ GåMEHWMÚääEMFé ãYHLÚWMEHMKEHIDDJH^VEbMJFHSMEYè^MEHåMKH\PKLGJH[XGåDXðHDJåMKFMEéHæKMHLMKYFMEHYKEbHPKLGJMYMEaHDåMJHbKMHîGJDJåMKFMJHLM^J^MKFXKè^ `D_DEKYè^QLDXDKKYè^MEHîJYIJVEWYéHÜíMKHåXVF`VEWMHC^KEMYKEEMEHWMåMEHbMEHYFJMEWMEHñJåMKFYJ^ÙF^LVYHLKFHMKEMJHãEMJWKMHVEbHñVFGJKFëFH_GJaHbKM LDEHK^JMLHZKMJXKè^MEaHäDYFHØKEbXKè^MEHïVè^YHWDJHEKè^FHZVWMFJDVFH^ëFFMéHOKMHXMKFMEHbKMHFKLGJMYKYè^MEHñJåMKFMJHåMKLHí÷XXMEHVEbHîMJäJDè^FMEHbMJ ÛDääMMYëèØMHDEé í÷JHP^ÙHKYFHMYHWMíKêHEKè^FHXMKè^FHWMíMYMEaHYKè^HDXYHMEWYFMHSKFDJåMKFMJKEHìGåYHbVJè^ZVYMFZMEéHOKMH^DFH_GEHK^LHWMXMJEFaHíKMHLDEHYFMFYHMKE ^MKFMJMYH[MYKè^FHZVJHOè^DVHFJëWFaHDåMJHíMEEHMYHZVJHODè^MHØGLLFaHíMEEHYKMHbKMHÛGEFMEHVEbHìKXDEZMEH÷åMJIJ÷äFHVEbHYKè^HEKè^FHåMGåDè^FMFHä÷^XFa ZMKè^EMFHYKè^HDVäHK^JMLHXKMåXKè^MEH[MYKè^FHMKEMHêëJFMHDåaHíKMHYKMH[JD^DLH[JMMEMHåMKHbMLHYè^ÚEMEHSëbè^MEHU^VGEWHMEFbMèØFMaHbDYHKEHYMKEML TGLDEHæMJHYFKXXMHñLMJKØDEMJHbKMHZMEFJDXMHTGXXMHYIKMXFé ìGåHKYFHYKè^HYMKEMJHOGEbMJYFMXXVEWHåMíVêFéHæKMH`VEWMHTMIVåXKØHPKLGJQòMYFMHKYFHåMFFMXDJLHVEbHDVYYè^XKMêXKè^HDVäHOVåYKbKMEHDVYXëEbKYè^MJ OIMEbMJHDEWMíKMYMEéHñåMJHíDYHXMKYFMEHYè^GEHbKMHæKXMFFDEFMEHbMJH][NYHVEbH`MEMH^Gè^åMYGXbMFMEHñKbQïGJØMJHbMJHîMJMKEFMEH]DFKGEMEaHbKMHLKF K^JMEHLDYYK_MEH[JDFKYXKMäMJVEWMEH_GEHòMåMEYLKFFMXEHbMEHMKE^MKLKYè^MEHìDVMJEH`MbMHC^DEèMHEM^LMEaHK^JMHTMKYäMXbMJHWMíKEEåJKEWMEbHZV åMDJåMKFMEĊHæKMHKEFMJEDFKGEDXMEHêKXäYGJWDEKYDFKGEMEH^DåMEHDVè^H^KMJHMKEMHUDYYK_KFëFHWMäÚJbMJFaHbKMHLDEHDVäHäJDEZÚYKYè^HDXYH\LMEFDXKFÝ bċDYYKYFÝYðHåMZMKè^EMFHVEbHDXYHbMJMEHíGXWMHbKMHøèØMJHåJDè^XKMWMEé æMJHÛDääMMHDVYHPKLGJHKYFH_GEH_GJZ÷WXKè^MJHúVDXKFëFéHÜVHbMEHÛVEbMEH_GEH\PKLGJH[XGåDXðHZë^XFHDVè^HbKMHíMXFíMKFH_MJFJMFMEMHOFDJåVèØYQÛMFFMé æDHPKLGJHbMEHLMKYFMEHÛVEbMEH_ÚXXKWHVEåMØDEEFHKYFaHIJMKYMEHDXXMJbKEWYHbMJMEHSDEDWMJHK^JMH[MFJëEØMHDXYHDäJKØDEKYè^MHGbMJHXDFMKEDLMJKØDEKYè^M ïDJMHDEéHñVYHbMLHíMEYFMJHbMYHÛGEFGJYaHKEHbMLHbKMHØXMKEMHîKMFEDLMYKEHP^ÙHbDYHTMWKLMEFHä÷^JFaHäëXXFHbMJHìXKèØHDVäHMKEMHíMKFMHêDXXMaHíG æVFZMEbMHMKE^MKLKYè^MJHíJDVMEHbDLKFHåMYè^ëäFKWFHYKEbaHbKMHWVFMEH_GEHbMEHYè^XMè^FMEHÛDääMMåG^EMEHZVHFJMEEMEéHæKMHñJåMKFMJKEEMEHFJDWMEHåVEFM [MíëEbMJéHæKMHMKEMHGbMJHDEbMJMH[JVIIMHíKJØFHDVYHbMJHíMJEMHíKMHMKEH[DVWVKEQ[MLëXbMéHSDEHbMEØFHDEH\PDHSDFMFMðaHVEbHMEbXKè^HØGLLFHMKE JGLDEFKYè^MJHêDVè^HLDXDKKYè^QIGXÙEMYKYè^MJHñELVFHDVäé ìGåH^DFHVEYHMKEWMXDbMEaHYMKEMHUXDEFDWMEH_GEHTDKXDèGHDVäZVYVè^MEéHRè^HäJDWMHP^ÙaHbKMHLKJHDVYHLMKEMEHîKMFEDL`D^JMEHYGH_MJFJDVFH_GJØGLLFa GåHYKMHVEYHåMWXMKFMEHíKXXéHOKMHLÚè^FMHWMJEaHåMYKFZFHDåMJHKLLMJHEGè^HEKè^FHbKMHVEMEFåM^JXKè^MEHãKEíDEbMJVEWYIDIKMJMHVEbHØÚEEFMHåMK UGXKZMKØGEFJGXXMEHKEHOè^íKMJKWØMKFMEHWMJDFMEéHïKMHMYHbMEEHVLHbKMHÜVíDEbMJVEWH_GEHC^KEMYMEHåMYFMXXFHYMKaHäJDWMHKè^HbMEHC^MäéHãJHMJØXëJFHLKJa bDêHDVäHPKLGJHíKMHKEHWDEZHREbGEMYKMEHMKEMHYFDJØMHè^KEMYKYè^MHSKEbMJ^MKFHXMåFaHbKMH`MbGè^HDVäWJVEbHK^JMJHP÷è^FKWØMKFHDXYHñVYåMVFMJHVEb ïVè^MJMJHbKääDLKMJFHí÷JbMéHíJ÷^MJH^DåMHMYHYKè^aHíKMHåMKHYMKEMJHMKWMEMEHíDLKXKMaHVLHêDØØDHWM^DEbMXFéHOMKFHMKEHIDDJHçD^JMEHäëEbMH`MbGè^HMKEM åMDè^FXKè^MHKXXMWDXMHÜVíDEbMJVEWH_GEHêDEQC^KEMYMEHDVYHbMJHUJG_KEZHíV`KDEHYFDFFéHSDèDGHVEbHDVè^HbKMHREYMXHPDKíDEHí÷JbMEHbDåMKHDXY OIJVEWåJMFFHWMEVFZFé ïKJH^DåMEHVEYHDVäHbKMHíD^JFHEDè^HTDKXDèGHåMWMåMEaHbDYHKEHTKè^FVEWHïMYFMEHWMXMWMEHKYFaHíGHbKMHOFJDêMEHåMJMKFYHDVäHbKMHKEbGEMYKYè^MHêëXäFM bMJHREYMXHPKLGJH÷åMJXMKFMEéHæKMHñYI^DXFYFJMèØMHíKEbMFHYKè^HbVJè^HbKè^FMYHîEFMJ^GXZéHìMKLHñEåXKèØHbMJHMJåëJLXKè^HåMíKJFYè^DäFMFMEHTMKYäMXbMJ LVêHKè^HDEHbKMHñVYYDWMHbMJHbMVFYè^MEH[PÜQãðIMJFMEHbMEØMEéHæKMYMYHòDEbaHYGHDJWVLMEFKMJMEHYKMaHåKMFMFHDXXMHîGJDVYYMFZVEWMEHFJGIKYè^MJ íJVè^FåDJØMKFaH`DHXDEbíKJFYè^DäFXKè^MEHôåMJäXVYYMYéHæDZVHØëLMEHJMKè^MHSKEMJDX_GJØGLLMEHVEbH_GJHDXXMLHbKMHĉXQHVEbHãJbWDYJMYMJ_MEHbMJ PKLGJQOMMé æGè^HEMåMEHbMJHDEWMåGJMEMEHREbGXMEZHbMJHòDEbåM_ÚXØMJVEWH^DåMHbDYHC^DGYHbMJHXDEWMEaHåXVFKWMEHTMIJMYYKGEHVEbHMKEMJH^MXbKYè^H_MJØXëJFME [VMJJKXXDH`MbMEHòMKYFVEWYíKXXMEHZVYëFZXKè^HWMXë^LFéH]VJH_MJMKEZMXFMHTDFWMåMJHVEbHñVäåDV^MXäMJaHbKMHVEFMJHbMJHåXDVMEHî]QíD^EMHMKEWMäXGWME íVJbMEaHFJDVMEHYKè^HDVYHOKè^MJ^MKFYWJ÷EbMEaHK^JMHØGLäGJFDåXMEHúVDJFKMJMHKEHæKXKHZVH_MJXDYYMEaHVEbHíDYHØDEEHLDEHYè^GEH_GEHDEWMåXKè^ME ãðIMJFMEHDVYHbMLHDäJKØDEKYè^MEHOD^MXHGbMJHDVYHbMEHOFMIIMEHÜMEFJDXDYKMEYHMJíDJFMEaHbMJMEHìM^ÚJbMEHåMKHbMJHãEFíKèØXVEWHK^JMJHMKWMEME êMKLDFXëEbMJHMJåëJLXKè^HWMYè^MKFMJFHYKEbĊ æKMHæÚJäMJHDLHOFJDêMEJDEbHYKEbH_GEHbMEHîMJí÷YFVEWMEHbMYHUDJFKYDEMEØJKMWMYHWMZMKè^EMFéHRELKFFMEHbKMYMJHîMJíD^JXGYVEWHXMVè^FMFHKEHíMKêMJ VEbH^KLLMXåXDVMJHPÚEVEWHMKEMHæDJYFMXXVEWHbMJH[JGFFMH_GEHòGVJbMYHDVäéHæKMHSDbGEEMEYFDFVMH_MJØ÷EbMFHbGJFHbMEHåDYØKYè^MEHêKJFMEØKEbMJE K^JMHìGFYè^DäFõH\Rè^HåKEHbKMHVEåMäXMèØFMHãLIäëEWEKYéð SKFHåMJMè^FKWFMLHOFGXZHä÷^JFHìGåHVEYHYMKEMHïMJØYDEXDWMEH_GJéHæKMHTÚYFMJMKHVEbHbKMHîMJIDèØVEWYLDYè^KEMEHíMJbMEH_GEHMKEMJHIMJäMØF ØGEYFJVKMJFMEHñXVLKEKVL^DXXMH÷åMJbDè^FaHbKMHDVYHîKMFEDLHKLIGJFKMJFHíVJbMéHìGåHVEFMJ^ëXFHäJMVEbYè^DäFXKè^MHìMZKM^VEWMEHZVLHbMVFYè^ME PMDLHbMJH[MYMXXYè^DäFHä÷JHFMè^EKYè^MHÜVYDLLMEDJåMKFaHbMJMEHÛGLIMFMEZHMJHZVHYè^ëFZMEHíMKêéHãJHØGLLFHDVè^HLKFHbMEHUGJFVWKMYMEHWVF ZVJMè^FaHbMJMEHFMLIGJëJMHT÷èØØM^JHKEHK^JMHMKEYFKWMHìMYKFZVEWHMJHLKFHOØMIYKYHåMGåDè^FMFéHïKMHKYFHYMKEHîMJ^ëXFEKYHZVHbMEHØGLLVEKYFKYè^ME ìM^ÚJbMEHKEHUMØKEWĊHNääMEåDJHåMYFM^MEHbDHMEWMaH_MJYè^XVEWMEMHìDEbMaHbKMHYKè^HbMLHãKEåXKèØH_GEHãVJGIëMJEaHñVYFJDXKMJEHVEbHñLMJKØDEMJE MEFZKM^MEé OMXåYFHDXYHbKMHíG^X^DåMEbMEHñVYXDEbYè^KEMYMEHKLHDYKDFKYè^QIDZKäKYè^MEHTDVLHLKFHêGJJGJHDVäHbKMHãðZMYYMHbMYHJDbKØDXMEHSDGKYLVYHåXKèØFMEa åXKMåMEHYKMHbMLHTMKè^HbMJHSKFFMHKEFKLH_MJåVEbMEéHOGH^DFFMHKè^HKLHOGLLMJHëìïHKLHêDäMEHòDMHDVäH]MVWVKEMDHMJXMåFaHíKMHbKMHbGJFHDEYëYYKWM [KXbMHMJäGXWJMKè^MJHè^KEMYKYè^MJHÛDVäXMVFMaHbKMHbKMHLDJðKYFKYè^MHÜíDEWYíKJFYè^DäFHbMJHJGFMEHîGXØYJMIVåXKØH_MJDåYè^MVFMEaHKEHçVåMXHDVYåJDè^aHDXY MYHbMJHîGXØYåMäJMKVEWYDJLMMHKEHbMEHïMKFMEHbMJHPDØXDLDØDEQï÷YFMHWMXDEWaHbKMHMJYFMHè^KEMYKYè^MHñFGLåGLåMHZVHZ÷EbMEé \SKFHbMJHOè^DääVEWHbMJHVEDå^ëEWKWMEHTMIVåXKØHPKLGJQòMYFMH^DFHbKMHDLMJKØDEKYè^MHí÷^JVEWYLDè^FHDLHTDEbMH]GJbDVYFJDXKMEYaHKLHêMJZME _GEHREYVXKEbMaHMKEMEHíJMKJDVLaHMKEHIGXKFKYè^MYHîDØVVLHWMYè^DääMEéHêKMJHíVJbMHMKEHãKEäDXXYFGJHWMÚääEMFðaHYGHVEWMäë^JHXDVFMFHbMJHÛGLLMEFDJHbMY ÛDääMMIJGbVZMEFMEaHbMJHYMKEMH`G_KDXMHSDYØMHä÷JHMKEMEHSGLMEFHDåWMYFJMKäFH^DFéH\ïKJHñYKDFMEHbMEØMEHKEHXDEWMEHÜMKFJëVLMEéHñåMJHYè^EMXXMJaHDXY bKMHLMKYFMEHUGXKFGXGWMEHbMYHïMYFMEYHYKè^HbDYH_GJYFMXXMEHñH_KMXXMKè^FHYè^GEHKEHä÷EäHçD^JMEHñHb÷JäFMHbDYHØGXGYYDXMH[MíKè^FHUMØKEWYHbKMHØ÷EäFKWM ãEFíKèØXVEWHKEHbKMYMLHTDVLH_GJWMåMEéð ù ]Dè^HæKXKHZVJ÷èØWMØM^JFaHåXëFFMJMHKè^HDLHñåMEbH_GJHLMKEMJHïMKFMJJMKYMHEDè^HìDXKHEGè^HMKELDXHKLHVLäDEWJMKè^MEHòVYKDbMEQìDEbHbMY íDWMLVFKWMEHìDJbMEHòVõYHCDLöMYéHæDHYFGêMHKè^HDVäHMKEMHåKZDJJMHìMYè^JMKåVEWHbMYHVEåMZíKEWåDJMEHñVäåMWM^JMEYHåDJåDJKYè^MJHîJMKEíG^EMJ VEbHOFëLLMHWMWMEHbKMHíMKFH÷åMJXMWMEMEHãKEbJKEWXKEWMHDVYHbMLHNØZKbMEFaHVEbHbKMHMJYè^MKEFHñHåMKHDXXMJHñXFMJF÷LHXKè^ØMKFHbMYHñVYbJVèØYHñ YMXFYDLHLGbMJEéHïMEEHbMJHæKè^FMJHYKè^HbMYHïGJFMYH\ÛDääMJEðHåMbKMEFaHYGH÷åMJEKLLFHMJHXMbKWXKè^HbMEHDJDåKYè^MEHñVYbJVèØaHLKFHbMLHbMJHÛGJDE `MbMEHîEWXëVåKWMEHGbMJH[GFFXGYMEHDXYH\ÛDäKJðHåMEMEEFéHOGHXDVFMFHbMJHPMðFõ
\æGJFHíMJbMEHíKXbMHÛDääMJEHbDYH_GXXåJKEWMEa
ïDYHYMXåYFHWMYè^KèØFMHíMKEbMHEKè^FHWMLDè^Fé
îEbHJG^HWMåJDEEFMEHUäë^XMEHíKJbHWMXKEWMEa
ïDYHìGWMEHVEbH[MYè^÷FZMHEKè^FH_GXXåJDè^Fé
æGè^HíMJHØDEEH[GFFMYHTDFYè^XVêHYè^GEHbVJè^bJKEWMEĊ
PÚJKè^FMHSMEYè^MEaHbKMHbDYHEKè^FHåMbDè^Fa
]MEEMEHMYHåÚYMYHOè^KèØYDXaHîEWX÷èØHWDJa
ïDYHMKEZKWH[GFFMYHîGJåMYFKLLVEWHíDJéð
ãKEHíMEKWHØXKEWFHbDYaHDXYHYFKMêMEHíKJHDVäHbKMH_MJØXDVYVXKMJFMHñVYYDWMHMKEMYHKåMJKYè^MEH]GYFJDbDLVYaHDXYHGåHCDLöMYHDEHbKMYMJHOFMXXMHbKM \DYÙLLMFJKYè^MHÛJKMWä÷^JVEWðHVEYMJMJHWMWMEíëJFKWMEHÛGEäXKØFMHDEbMVFMEHíGXXMéHæKMHìMJVäVEWHDVäHMKEMHWÚFFXKè^MH\îGJåMYFKLLVEWðaHbKMHMKEYF bMJHíXGFFMHbMYHêMJZGWYHñXåVóVMJóVMHbKMHTKè^FVEWHíKMYaHäKEbMFHYKè^HKEHbMEHñVäFJëWMEHíKMbMJaHbKMH^MVFZVFDWMHbMJHUJëYKbMEFH[MGJWMHïéHìVY^HbMJ îOH]D_ÙHMJFMKXFé [MWMEHãEbMHbMYH\CDEFGHbMèKLGðHKYFHDVYHbMLHFJKVLI^KMJMEbMEHãEFbMèØMJQãIGYHMKEHMXMWKYè^MJHñåWMYDEWHWMíGJbMEéHïKMbMJHMKELDXH_MJLMEWF bMJHæKè^FMJHYMKEMHè^JKYFXKè^MHíJÚLLKWØMKFHLKFHXKFMJDJKYè^MEHñEXMK^MEHåMKHbMJH^MKbEKYè^MEHñEFKØMaHíMEEHMJH\òMF^MðaHbMEHíXVêHbMJHîEFMJíMXFa MJíë^EFéHNääMEåDJHKYFHMJHKEHãJíDJFVEWHYMKEMYHPGbMYH_GEHbMJH]Kè^FKWØMKFHDXXMEHêDEbMXEYHVEbHDXXMEHOMKEYHbVJè^bJVEWMEéHRè^HíëJMHKEHVEYMJMJ äMVè^FäJÚ^XKè^MEHTVEbMHKEHbMJHUGVYDbDH_GEHñKJMJDHìJDEèGHØMKEMYíMWYHYè^GèØKMJFHWMíMYMEaHíMEEHñHåMKHDVYJMKè^MEbMJHìKXbVEWHñHMKEMJHVEYMJMJ FKLGJMYKYè^MEH[ëYFMHLMKEMEH×éH[MåVJFYFDWHLKFHbMJHTMZKFDFKGEHbMJHXMFZFMEHLMXDEè^GXKYè^MEHîMJYMHbMJH\òVYKDbMEðHZMXMåJKMJFH^ëFFMõ \æKMHçD^JMHäXKM^MEaHbKMHOGLLMJZMKFHKYFHåDXb
ZVHãEbMaHíKXXHYKè^HYè^GEHbMLHêMJåYFHZVíMEbMEHÿ
æMJHÛVLLMJHä÷^JFHLKè^HZVHbMYHOFJGLYH[MíDXFa
ZVHb÷YFMJMLHîMJWMYYMEaHMíKWMLHOè^íMKWMEéð
CDEFGHIJKLEMG
NOPQ
QRHSGTUJVMHMJIHWXEUFJEHYGEFZEJEFI
[JTTGTHZRHWJTZJE\DTDMZJI NDVZ]HZRH^_T`Habbc dZJHeJZFIfgTZUFHhJGHgDFFJHLEV_EKIFHLEFJTHDEMJTJEHOMTJIIDFJEHMZJHOEUTDKJHDEHRZfgHKJTZfgFJF]HiJVfgJTH;LE
MZJHoGTH;DMMDîIHNDTHgGfgKZEKHLEMHTJVDFZoHKJTZEKJHSJTVLIFJHoJTLTIDfgFJ]HMZJEFJHiGgVHMD`L]HJZEJH^DIIJHoGEHéfgDLVLIFZKJEHDE`L`ZJgJEpHFJEZK I\_FJTHJEF`XEMJFJHIZfgHZRHéDTZHCVLnHJZEHKZKDEFZIfgJTHWJLJTnDVV]HMJTHRJgTHDVIH`iJZgLEMJTFHñTVDLnJTHZEHMJEH[GMHTZqp dZJHDEI\TLfgIVGIJEH[DE`IfgL\\JEHIZEMHIfgEJVVHTJIFDLTZJTFHiGTMJEpHlZEJHiJZqJH^DTRGT\VDFFJHoJT`JZfgEJFHMZJHHDRJEHMJTHG\UJT]HMDTLEFJTHJZEJ OE`DgVHdJLFIfgJ]HIGiJZFHMZJIJHZMJEFZUZ`ZJTFHiJTMJEH
SZJFEDRJIZIfgJHWZJnJTFT_LRJ NDVZ]HZRH^_T`Hôøüù QRH^_T`HôøüùHgDFFJHNDVZHIJZEJHñEIfgLVMHoJTVGTJEpHdDIHVDKHEZfgFHELTHDRHnVXgJEMJEHhJIfg_UFHRZFHMJEHñTVDLnJTEHDLIHOLIFTDVZJE]HñéOHLEM lLTG\D]HMZJHZRHñR
éFDDFIUJZEMJEHIFDFFpHdZJHGUUZ`ZJVVJHeDgVHoGEHMTJZqZKFDLIJEMH[GFJEHMXTUFJH<JZEJIiJKIHXnJTFTZJnJEHIJZEpHdZJH[GMJIKmFFZEHYDVZHgDFFJHDLUHMJTHQEIJV MZJHíJTTIfgDUFHDEHIZfgHKJTZIIJE]HLEMHhGFFHégZoDHUXgTFJHIJZEJEH[DE`HDVIHKTGqJTH
QfgHiDTHRZFHJZEJRHoZJFEDRJIZIfgJEH[JDRHEDfgH[DDHHZEgHKJUDgTJEpHQEHMJTHYDFgJMTDVJHMJTHCDGMDZIFJE]HJZEJTHIDE
OLIFTDVZIfgJHlZEUVLq`GEJ NDVZ]HZRH^_T`Habbc FJVfgJHéfgZf
lZEHDLIFTDVZIfgJTHGUUZ`ZJT]HMJTHZEHMJTHnTZFZIfgJEH[TDMZFZGEHoGEHéDEMgLTIFHDLIKJnZVMJFHiLTMJ]HEJZKFHEZfgFH`LTH^ZFFJZVIDR<JZFHçZEHRZVZFDTZDèp OVVJEUDVVIHJZEJHé\LTHoGEHKTZRRZKJRHíLRGTH
OEHMJTH[gJ<JHMJIHJZE`ZKJEHFD\ZIfgHDEKJVI_fgIZIfgJEH;LnI]HMJTHç[TDfDèHiZMJTIFDEMJEHgDFFJ]HiLTMJHRZTHnJIF_FZKF]HMDqHIJZFH
dZJHoJTVGTJEJH[TDLRiJVF NTGGRJHOLIFTDVZJE]HZRHíJTnIFHôøüú lFiDHôbbbHYZVGRJFJTHFDIIJTUV_fgJHFTJEEJEHNDVZHoGEHMJTHEGTMiJIFVZfgJEHYXIFJHMJIHWXEUFJEHYGEFZEJEFI]HoGEHëJEJTHFTGIFVGIJEHYZRnJTVJDðìJKZGE] iGHMDIHPJnJEHMJTHlZEKJnGTJEJEH`LTHeJZFHRJZEJIHNJHILHfgJIHEGfgHé\LTJEHoGEHñTI\TXEKVZfg<JZFHnJiDgTFJpHHDfgHJZEZKJRHéLfgJEHgDFFJHZfg LEiJZFHMJIHWVJf<JEIHdJTnDHJZEJEHéfgDRDEJEHEDRJEIHNDTGEKDHDLUKJI\XTF]HMJTHoGTKDn]HMZJH^DFgJEHMJTHSGTUDgTJE]HMDIHXnJTVZJUJTFJHFZIIJEHDLI JZEJTHHDfgFHoGEHùbHbbbHóDgTJEH`LHMJLFJEp dDHIDqHZfgHELEHDRHìDEMHMJTHKTDLnTDLEJEHéFJ\\JHMJRHDVFJEHéfgDRDEJEHKJKJEXnJT]HMJTHELTHRZFHJZEJRHPJEMJEFLfgHnJ
oGTHIZfgHgZE]HFTDLTZKJTHDVIH[ZJTJpHéZJHiZT
NJZHMJEHHDfg
PJKJEMJHJZEJIHTGRDEFZIfgJE]HgJVMJEgDUFJEHFZMJTIFDEMJIHKJKJEHMZJHUTJRMJEHlZEMTZEKVZEKJHnJTLUJE]HMJTHZEHMJTHHDfgiJVFHiJZFJTVJnFp OLUHMJEHñTðOLIFTDVZJTEHIfgJZEFHJZEHIfgTJf
hJZIFJTIF_MFJHZRHçGLFnDf<è CGGVKDTMZJHOLIFTDVZJE]HZRHíJTnIFHôøüú
çdDIHVJF`FJHñUJTè]HIGHVDLFJFJHMJTH[ZFJVHJZEJIHWZVRI]HMJTHMZJHSJTEZfgFLEKHMJTHFJVFHMLTfgHJZEJEHHL
YDZIJTðFZVgJVRðPDEM PDJHHJLKLZEJD]HZRHWTXgëDgTHôøþþ SZJT`ZKHóDgTJHVDEKHêHoGEHôcüúHnZIHôøôúHêHgDFHMZJHIfgiDT`ðiJZqðTGFJHWDgEJHMJIHeiJZFJEHdJLFIfgJEHìJZfgJIHXnJTHMJRHEGTMmIFVZfgJEHSZJTFJVHoGE HJLKLZEJDHLEMHJZEJTHOE`DgVHoGEHQEIJVEHZRH;D`ZUZIfgJEHG`JDEHKJiJgFpHFJTHiJZqHMDIHXnJTgDL\FHEGfgHZEHMJTHgJLFZKJEHNLEMJITJ\LnVZ<õHQfgHiDT] oGEHNTZInDEJHZEHöLJJEIVDEMH
çYDZIJTðFZVgJVRðPDEMè]HiZJHRDEHMZJHUJTEJH
ôøþþHDLUHJZEJH
JTUDgTJE]HMDqHIZJH`LTHeZJVIfgJZnJHgJUFZKJTHYTZFZ
CDEFGHFIJKILJG
MNOPQROQ SDTHDEUIJIHOEUIHUIJHVIWF XDYITHCGGZH[EUHULIH\DGJL ]IJL^]IJLH_QI[TIIWDEU`aHLYHbIcJ[DJHdeef gSLIHhWiKZWLK,IEH-lWZIJH,DcIEHZILEIHmITK,LK,FInaHTDhFHILEHoJDEplTLTK,ITHq»JLK,4GJFaHgWITH»I[»WITH,I[JI[5HE6GEFH»DTHU6,LTFGLJIn7HP[oHUIEHIJTFIE 8WLKZHZlEEFIHTLK,HULITIH8I,D[»F[EhHD[oHQI[TIIWDEUHcIpLI,IE7HSLIHYIETK,WLK,IH8ITLIUW[EhHP[TFJDWLIETHJILK,FHTK,9Fp[EhT4ILTIH*eHeeeHXD,JI p[JiKZaH[EUHD[K,HLEHPYIJLZDaHUDTHGoFHDWTHQI[IHVIWFHUDJhITFIWWFH4LJUaH+IJWLIJFHTLK,HULIHOLE4DEUIJ[EhHDTLDFLTK,IJH-lWZIJTK,DoFIEaHULIHTLK,HDWWIJ VD,JTK,ILEWLK,ZILFHicIJHULIHUDYDWLhIH,DEUcJiKZIHUIJH8IJLEhTFJD|IH+GWWpGhH[EUHD[oHUIJHRETIWHbI[IJWDEUHLYH-GJoIWUHUIJHPEFDJZFLTHL,JIHI5FJIYI P[TUI,E[EhHoDEUaHLEHUIJHQDK,FHUIJHNILFIE7 biJHQI[TIIWDEUH,LEhIhIEH4LJUHUDTHP[oFD[K,IEHUIJHIJTFIEH\IETK,IEaHULIH,DEU[EhH»GW›EITLTK,IJHqIIoD,JIJaHD[oHUDTHXD,JHN4lWo,[EUIJF [ETIJIJHNILFJIK,E[EhaHDWTGHD[oHILEIHTI,JHED,IH-IJhDEhIE,ILFHp[JiKZhIoi,JF7HVIEEHmGIF,IH+GEHUIEH-IJILELhFIEHqFDDFIEHD[ohJ[EUHL,JIJHZ[JpIE ※LTFGJLIHTK,JILcIEHZGEEFI‼HgPYIJLZDaHU[H,DTFHITHcITTIJnaH4LI+LIWHYI,JHYi|FIHUDEEHULIHmEDUIHUIJHT»9FIEHmIc[JFHD[oH‽IEIHcILUIEHRETIWEHLY qiU»DpLoLZHp[FJIooIEaHULIHDEHUIEHPEFL»GUIEHO[JG»DTHhIWIhIEHTLEUH[EUHIF4DHUIEHP[TYD|IEHmJG|cJLFDEELIETHIEFT»JIK,IE‾ -IJY[FWLK,H4DJIEHULIHRET[WDEIJaHULIHTLK,H\DGJLHEDEEFIEH[EUHDEH8GJUHL,JIJH»J9K,FLhHhITK,ELFpFIEHhJG|IEH]DE[THhI4DWFLhIHGpIDELTK,I OEFoIJE[EhIEHcI49WFLhFIEaHhDEpHp[o9WWLhHDEHULITIHcLTWDEhH[EcIZDEEFIH[EUHYIETK,IEWIIJIH]iTFIHhIWDEhF7HOF,EGWGhIEH+IJY[FIEHL,JI [JT»JiEhWLK,IH※ILYDFHD[oHUIYH,I[FIHoJDEplTLTK,IEHmITIWWTK,DoFT^PJK,L»IWHLYHYZJILTH+GEHID,LFLH[EUHD[oHqDYGD7HP[THmJiEUIEHUIJ 5cIJ+lWZIJ[EhH[EUHYlJUIJLTK,IJHqFDYYITZ9Y»oIH4DJIEHULIH\DGJLHp[HULITIJH,IJGLTK,IEHO5»IULFLGEHLEH6LK,F[EhHqiU4ITFIEHD[ohIcJGK,IEH[EU UGJFHD[oHILEIHoiJHTLIH[EhI4G,EFIaHJD[,IH]WLYDpGEIHhITFG|IE7 OTH4DJIEH4LIUIJHILEYDWHULIH,GWW9EULTK,IEHQD+LhDFGJIEHUIJHMTFLEULIE^CGY»DhELIaHULIHLYHXD,JH789dHUDTH,I[FLhIHQI[TIIWDEUaHULITIHgWFLYD I,[WInaHDWTHIJTFIHVIL|IHTLK,FIFIEH[EUHL,JIJHOEFUIKZ[EhHUIEHQDYIEH+IJWLI,IE7HSLIHQLIUIJW9EUIJH[EFIJHUIYH]D»LF9EHIDTYDEH4DJIEH‽IUGK,HD[o ILEIEHTGHoILEUTIWLhIEHOY»oDEhHU[JK,HULIHZJLIhIJLTK,IEHILEhIcGJIEIEHqF9YYIHUIJH\DGJLHhIFJGooIEaHUD|HTLIHUIEH]GEFDZFHYLFHUIEHgVLWUIEn icIJTFiJpFHDccJDK,IE7 SLIH4D,JIHOEFTK,ILU[EhH4[JUIHp[JHNILFHUIJHP[oZW9J[EhHp4LTK,IEH8JLFIEH[EUHbJDEpGTIEHD[ThIFJDhIE7HSLITIH4IWF4ILFIHmIhEIJTK,DoFHUIT DK,FpI,EFIEHXD,J,[EUIJFTaHDWTHUIJH,LWLIEF,JGEHJLITLhIHIILWIHQGJUDYIJLZDTH[EFIJHTILEIEHOLEoW[|HhIcJDK,FH,DFFIaHDEHUIEH]iTFIEHREULIETHTFDJZI :GTLFLGEIEHcI,D[»FIFIH[EUHD[K,HLYH:DpLoLTK,IEHMpIDEHI5»DEULIJFIH;HILELhIHcIDK,FWLK,IHIIJJLFGJLIEH4LIHQI[ZDWIUGELIEHGUIJHULIHI[DYGF[^ RETIWEHTLEUH‽DHcLTHD[oHUIEH,I[FLhIEHIDhHoJDEplTLTK,IHSI»IEUIEpIEH;aHIEUIFIH[E+IJYILUWLK,HYLFHUIJHcJLFLTK,IEH5cIJWIhIE,ILFHp[JHqII7HSLI UIZDUIEFIHoJDEplTLTK,IH\GEDJK,LIH[EFIJH,[U4LhH<-7H4DJHELK,FHLEHUIJH,DhIaHL,JIEH4IWF[YT»DEEIEUIEHIIJJLFGJLDWIJ4IJcHLEH5cIJTIIHhIhIEHULI bWGFFIHPWcLGETHp[HcI,D[»FIEH[EUHhWILK,pILFLhHILEIHhDEpIHqIJLIHZGEFLEIEFDWI[JG»9LTK,IJHbIWUpihIHhIhIEHUDTH※D[TH※DcTc[JhHU[JK,p[TFI,IEaHULI LYHNILK,IEHU›EDTFLTK,IJHOJcoGWhIHIEFcJDEEFH4DJIE7 RYYIJ,LEH4DJHITHUIJHoJDEplTLTK,IH]D»LF9EHXIDEHUIHq[J+LWWIaHUIJH7=8>HDWTHIJTFIJHO[JG»9IJH;HhIoGWhFH+GEHTILEIYH,DEUTYDEEH\DJLGEHU[ bJITEIH;HLEHUIJHElJUWLK,HhIWIhIEIEH8D›HGoHRTWDEUTHb[|HoD|FIH[EUHp[HUIEH\DGJLHILEHIEFT»DEEFITH-IJ,9WFELTHD[oED,Y7HSLIHoJLIUWLK,IH]GI5LTFIEp IEUIFIHDcJ[»FH[EUHhJD[TDYaHDWTHoJDEplTLTK,IH\DFJGTIEH;H4D,JTK,ILEWLK,HG,EIHITHp[HD,EIEH;HILEHgIDc[nHUITH»GW›EITLTK,IEHP,EIEZ[WFITH[EU ILEIEHTDZJDWIEHM»oIJDWFDJHIEF4IL,FIE7HN4ILHS[FpIEUHEFIJFDEIEHUITH8G[JcGEIE,IJJTK,IJTH4[JUIEH+GEHUIEH\DGJLHicIJ49WFLhFH[EUH+IJY[FWLK, p[HILEIYHbITFTK,YD[THD[ocIJILFIF7 N[JHhWILK,IEHNILFHFD[K,FIEH[EFIJHUIYHELGEHXDKZHDEUIJIH]JLIhTTK,LooIH+GJHUIEHqFJ9EUIEHQI[TIIWDEUTHD[o7HqLIHTFDEUIEH[EFIJHUIYH8IoI,W ‽IEITHWIhIEU9JIEHCD»FDLEHXDYITHCGGZaHUIJHDWTH[EIJYiUWLK,IJHOEFUIKZIJHUIJH»DpLoLTK,IEHVILFIEHp4LTK,IEHUIEHPWI[FIEHLYHQGJUIEH[EUHUIE DEFDJZFLTK,IEHOLTc9EZIEHLYHqiUIEHLEHULIHmITK,LK,FIHILEhIhDEhIEHLTF7HP[K,HXDYITHCGGZH+IJWGJHpI,EHTILEIJHmIo9,JFIEHDEHULIHJILE4G,EIJ7HqLI IJWLFFIEHILEH9,EWLK,ITHqK,LKZTDWH4LIHULIHbJDEpGTIE7HSGK,HUIJH8JLFIH,DFFIHD[oHUIEHicJLhIEHPJK,L»IWIEHUITHqFLWWIEHMpIDETHTGHLEFIETL+IHOJoD,J[EhIE LYHYhDEhHYLFHUIEHOLEhIcGJIEIEHhITDYYIWFaHUD|HIJHoiJHULIHZJLIhIJLTK,IEH8I4G,EIJHQI[TIIWDEUTH-IJTF9EUELTHD[ocJDK,FI7HgMc4G,WHTLI ]DEELcDWIEHTLEUnaHTK,JLIcHIJHLEHTILEH,Ghc[K,aHgTLEUHULIH\DGJLH+GEHUIJHQDF[JHL,JITHC,DJDZFIJTH,IJHh[F7n P[TH‽IEIEHIDhIEHTFDYYFHULIHWDEhIHbGWhIHTFiJYLTK,IJHVIK,TIWcIpLI,[EhIEHp4LTK,IEHUIEH\DGJLH[EUHUIEHg:DZI,DnaHUIEHgPEUIJIEnaH4LI ,I[FIHEGK,HULIHVIL|IEHYLFHILEIYHWILK,FH[EoJI[EUWLK,IEHEFIJFGEHhIEDEEFH4IJUIE7HOTHTGWWFIHTLK,HIJ4ILTIEaHUD|HULIH※LTFGJLIH;HYDhHTLIHD[K, EGK,HTGHT»9FHILEhITIFpFH,DcIEH;HoiJH‽IUIEHVLEZIWH[ETIJITHOJUcDWWTaHoiJH‽IUIHTILEIJH:G»[WDFLGEIEHTLK,HDWTHqK,LKZTDWThlFFLEH4G,W4GWWIEUHGUIJ hJD[TDYHhIc9JUIF7HSLIHViJoIWH4DJIEH‽IUIEoDWWTHTK,GEHUDYDWTHhIoDWWIE7HSLIHqIITK,WDK,FH+GEHIJDoDWhDJaHULIHUIJHbWGFFIHQD»GWIGETHp[Y -IJ,9EhELTH4[JUIaHcITF9FLhFIHUIEH,IJJLTK,IEHPET»J[K,‼Hg8JLFDEELDaHJ[WIHF,IH4D+ITn7HSLIHOLEhWLIUIJ[EhHQI[TIIWDEUTHLEHUDTH8JLFLTK,IHOY»LJI 4DJH‽IFpFHE[JHEGK,HILEIHbJDhIHUIJHNILF7 ? \ILEIHIJTFIH»IJTlEWLK,IH8IhIhE[EhHYLFHQI[TIIWDEUHWLIhFH[EhIo9,JHUJIL|LhHXD,JIHp[JiKZ7H-LIWWILK,FH,DFFIHLK,HULIHoDWTK,IH6ILTIJG[FIHhI49,WFaHDWT LK,HYLFHUIYH8[TH+GEHP[KZWDEUHEDK,HVIWWLEhFGEHD[ocJDK,7HSIJH:DJKG[JTHIJTK,LIEHYLJHJIK,FHWDEh4ILWLh7H-GEHUIEH\DGJLHcIZDYHLK,HLEHULITIJ U[JK,D[THcJLFLTK,H4LJZIEUIEHmJDT^H[EUHVILUIWDEUTK,DoFaHULIHU[JK,HTD[cIJIH4IL|IHCGFFDhITH[EFIJcJGK,IEH4DJaHoDTFHELK,FTHp[HTI,IE7 PYH-GJDcIEUH4DJHLK,HLYH※DoIE+LIJFIWH+GEHP[KZWDEUHD[oHILEH»DDJH[EoJI[EUWLK,IaH[EhI»oWIhFIH:GW›EITLIJHhITFG|IE7HSDTHmIT»J9K,HYLFHL,EIE
ZDYHE[JHplhIJWLK,HLEHmDEhaH[EUHI,IHLK,HIJo[,JaH4DTHTLIH+GEHYLJH4GWWFIEHGUIJH4DTHTLIHYLJHp[HIJZW9JIEH+IJT[K,FIEaHYLTK,FIEHTLK,Hp4IL U[EZIWcWD[H[ELoGJYLIJFIH:GWLpLTFIEHILEH[EUHhDcIEHYLJHUIEHUJLEhIEUIEH6DFaHELK,FHW9EhIJHLEHULITIJHp4ILoIW,DoFIEHYhIc[EhHp[H+IJ4ILWIE7HSLI MJUE[EhT,iFIJH4DJIEHcIFGEFHDEhIWT9K,TLTK,HD[ohIFJIFIE7HSLIHVIL|IEHQI[TIIWDEUTHcIpILK,EIEHTLK,HTIWcTFHDWTHg]L4LTnH[EUHcIpLI,IEHTLK,HUDYLF D[oHILEIEHE[JHD[oHQI[TIIWDEUHDEp[FJIooIEUIEaHTIWFTDYIEH-GhIWaHUIJHIJTFHEDK,HOLEcJ[K,HUIJHS[EZIW,ILFHTILEIHQD,J[EhTT[K,IHD[oELYYF7 -GEHQDK,FWIcIEHZGEEFIHLEH‽IEIJHNILFHTK,GFFLTK,IJH[EUH»JITc›FIJLDELTK,HhI»J9hFIJH:JiUIJLIHTIWcTFHLEHUIEH4IELhIEHhJG|IEHqF9UFIEHELK,FHULI 6IUIHTILE7HSLIH4IL|IH8I+lWZIJ[EhH4DJHhDEpH[EUHhDJHD[oHUIEH+LZFGJLDELTK,IEH,IcIETTFLWHUITH\[FFIJWDEUITHD[ThIJLK,FIFaH[EFIJTK,LIUHTLK,H‽IUGK, +GEHULITIJHLY»IJLDWIEHO»GK,IHmJG|cJLFDEELIETHU[JK,HILEIEHD[ThI»J9hFIEH※DEhHp[JHhITIWWTK,DoFWLK,IEHQL+IWWLIJ[EhaHU[JK,HL,JIHg,ILUIETK,DoFHoiJ TGpLDWIHmIJIK,FLhZILFnaH4LIHZGETIJ+DFL+IH:GWLFLZIJHp[HT»GFFIEH»oWIhFIE7HSDTHTGpLDWIHbiJTGJhI»JGhJDYYHQI[TIIWDEUTHhDWFH4IWF4ILFHDWTH+GJcLWUWLK,a DcIJH4LJZWLK,IH,IcIEToJI[UIHTK,LIEH;HDchITI,IEH+GEHUIJH8IhILTFIJ[EhHoiJHDWWITHq»GJFWLK,IH;HELJhIEU4GHD[op[ZGYYIE7 qGHTFIWWFIHLK,Hp[HYILEIJH-IJ4[EUIJ[EhHoITFaHUD|HE[JH+IJILEpIWFIH6ITFD[JDEFTHILEIH,LpIEpHp[YHPWZG,GWD[TTK,DEZHcITD|IEH[EUHUD|HULIH:[cT DcHDK,FpI,EH,JHILEIJH[EIJcLFFWLK,IEHq»IJJTF[EUIH[EFIJWDhIE7HPJcILFHDYHqGEEFDhH4DJHTFJLZFH+IJcGFIE7H8LTHp[YHXD,JH7>*eHhDWFHILEIHDcT[JUI -GJTK,JLoFaHULIHD[TH6iKZTLK,FHD[oHULIHlooIEFWLK,IH\GJDWHUDTH]G»[WLIJIEH+GEH6LEU+LI,HLEHUIJH@ooIEFWLK,ZILFH[EFIJTDhFI7HN[T9FpWLK,HIJ4LITIEHTLK,HULI 4IL|IEHQI[TIIW9EUIJHDWTHULIHgcITTIJIEH8JLFIEHUITHqiUIETnaHLEUIYHTLIHULIHi»»LhIEH[EUHTK,YDKZ,DoFIEHQDF[J»JGU[ZFIHL,JIJHRETIWHp[HILEIY [EhIELI|cDJIEH8JILH+IJZGK,FIEaHUIJHTIWcTFHDEHUIJHI,IYTIHPETFG|HIJJIhFH,9FFI7 REHILELhIEHq»GJFhDFF[EhIEaH+GJHDWWIYHDcIJHcILHUIEHJD[,IEH6[hc›^qK,WDK,FIEaHoILIJFIEHULIH]L4LTHUIEH※l,I»[EZFHL,JIJH‽[EhIEHEDFLGEDWIE RUIEFLF9F7H\LFHUIJHWIhIEU9JIEH6[hc›^\DEETK,DoFHgPWWH8WDKZTnaHLEHUIJHULIHJGc[TFIEH\DGJLHTLK,HU[JK,HL,JIEHEhITFiYH,IJ+GJFDFIEaHcJDK,FIEHIT ULIHQI[TIIW9EUIJHYI,JoDK,Hp[JHVIWFYILTFIJTK,DoF7 R,JIHIJI[IHp[YHCGYYGE4IDWF,HcI4LITIEHTLIHLEHUIEHcILUIEHVIWFZJLIhIE7HA,EWLK,H4LIHL,JIHD[TFJDWLTK,IEHQDK,cDJEH,DcIEHULIH]L4LTHDEHUIJ qILFIHL,JIJHcJLFLTK,IEH8JiUIJHhIZ9Y»oFH[EUHILEIEH,G,IEH8W[FpGWWHIEFJLK,FIF7HSDTH,DEUaHUDTH7>79HE[JHILEIH\LWWLGEHOLE4G,EIJHp9,WFIaHIEFTDEUFI LYHOJTFIEHVIWFZJLIhH7eeHeeeHqGWUDFIEHD[oHULIHqK,WDK,FoIWUIJHO[JG»DTaH+GEHUIEIEH8eHeeeHUIEHIGUHoDEUIE7HP[K,HLYHN4ILFIEHVIWFZJLIhH4DJIE ULIHQI[TIIW9EUIJHYLFHTFDJZIEH]GEFLEhIEFIEHD[oHUIEH]JLIhTTK,D[»W9FpIEHO[JG»DTH[EUHQGJUDoJLZDTH»J9TIEFaH49,JIEUHTLIHULIH-IJFILULh[EhHL,JIJ ILhIEIEH※ILYDFHhIhIEHULIH‽D»DELTK,IH8IUJG,[EhHD[THQGJUIEHUIJHYDTTL+IEHqFDFLGELIJ[EhHDYIJLZDELTK,IJHmRTHicIJWLI|IE7 \ILEIHIJTFIH6ILTIHIEUIFIHUDYDWTHLEHVIWWLEhFGEaHUIYH6IhLIJ[EhTTLFpHQI[TIIWDEUTaHUIJHTLK,HU[JK,HTFDFFWLK,IHmIc9[UIH[EUHIJUJiKZIEUI ,DEhI4ILWIHD[TpILK,EIFI7HPEHILEIYHhJD[IEaHEIcWLhIEHqGEEFDhHU9YYIJFIHULIH※D[»FTFDUFH4LIHD[ThITFGJcIEHUD,LE7HSDTHqFDUFpIEFJ[YH4[JUI U[JK,HILEHYDTTL+ITaHILEUJ[KZT+GWWITHSIEZYDWHhIZJlEFaHUDTHUIEH+LIWIEHmIoDWWIEIEHhI4LUYIFH4DJaHULIHLEHL,JIJHX[hIEUHUD,LEhIJDooFH4GJUIE 4DJIE7HSLIHIWIhLTK,IEHIJD[IJ+IJTIHILEITHIEhWLTK,IEHSLK,FIJTaHLEHmJDELFHhIYIL|IWFaHhDcIEH][EUIHUD+GEaHUD|HTLK,H,LIJH;HDEHUIEHPEFL»GUIE O[JG»DTH;HILEIHTFDJZIH4IL|IHQDFLGEHoGJYLIJFH,DFFI7 RK,H,DcIHLEH‽IEIJHoIJEIEHqF[EUIHUDJicIJHhIhJicIWFaH4IWK,H[EhI,I[IJWLK,ITHUIYGhJD»,LTK,ITH:,9EGYIEHUDp[HhIoi,JFH,DFFIaHUD|HLYH-IJWD[o UITHEI[EpI,EFIEHXD,J,[EUIJFTHULIH4IL|IH\IETK,,ILFHTLK,HYLFHUIJHV[K,FHILEITH-[WZDED[TcJ[K,THicIJHT9YFWLK,IH]GEFLEIEFIH+IJFILWFIH[EUHJLITLhI IIJJLFGJLIEH;HTILHITHLEHQGJUDYIJLZDHGUIJHLEHqLcLJLIEaHLEHP[TFJDWLIEHGUIJHLEHQI[TIIWDEUH;HEDK,HPcUJ9EhIEHUIJHoDJcLhIEHJILE4G,EIJHLE ZiYYIJWLK,IH6DEUJIhLGEIEHLEHI5ZW[TL+IHILhIEIHqLIUW[EhThIcLIFIH+IJ4DEUIWFI7HOLEIHTGWK,IHhWGcDWIH[EUHJDTDEFIH-lWZIJ4DEUIJ[EhH,DFFIHELIYDWT p[+GJHTFDFFhIo[EUIE7
IGFIY»o9,WIH[EUH\[TZIFIE 8D›HGoHRTWDEUTH_QI[TIIWDEU`aHLYHbIcJ[DJHdeef \ILEHp4ILFIJH8IT[K,H‽IEIJHoIJEIEHRETIW4IWFaHULIH+GEHUIEH\DGJLHgIDGFIJ[DnHGUIJHg,DEUHUIJHWDEhIEaH4IL|IEHVGWZIEnHhIEDEEFH4LJUaHoLEUIFH[EFIJ hDEpHDEUIJIEH-GJpILK,IEHTFDFF7H\ILEHqG,EH6GYDEH,DFHTLK,HYLFHTILEIJHqK,4ILpIJHbJD[HqILUDHDEHUIJH9[|IJTFIEHQGJUT»LFpIH‽IETILFTHUIJH8D›HGo RTWDEUTH[EUHUITHcITK,ILUIEIEH-IJ4DWF[EhTpIEFJ[YTH]IJL^]IJLHDWTHbDJYIJHELIUIJhIWDTTIEH[EUHTILEIJHDchITK,WGTTIEIEHYIULpLELTK,IE P[TcLWU[EhHUIEH6iKZIEHhIZI,JF7H5cIJHDcIEFI[IJWLK,IH6G[FIEH4DJHIJHLEHULITIHW9EUWLK,IHPchITK,LIUIE,ILFHhIWDEhF7HP[oHULIHN[K,FH+GEHqK,DoIEa ULIHLEHQI[TIIWDEUHYLFH+LIJpLhH\LWWLGEIEHO5IY»WDJIEHpI,EYDWHpD,WJILK,IJHTLEUHDWTHULIH\IETK,IEaH,DFHIJH+IJpLK,FIF7HqFDFFHUITTIEHW9|FHIJHILEI ※IJUIH+GEH6LEUIJEHD[oHTILEIJH4ILFIEHSGY9EIH4ILUIEH[EUH4LUYIFHTLK,HUIJHN[K,FH+GEH:oIJUIEaHULIHIJHTIWcTFHp[JILFIF7 REHUIEHXD,JIEH+GJHTILEIJHQLIUIJWDTT[EhHcILH]IJL^]IJLH,DFFIH6GYDEHp4ILYDWHLEH8IhWILF[EhHTILEIJHbJD[HD[oHW9K,IJWLK,HZWILEIEH8GGFIEH+GEHIF4D pI,EH\IFIJH,9EhIHUIEHOJUcDWWH[YTIhIWF7H8LTHp[HUIEHPWI[FIEH4DJHIJH+GJhITFG|IE7H5cIJHULIHhJG|IEHqIIEH[EUHUIEH\LTTLTTL»»LH,DFFIHIJHUDT EGJUDYIJLZDELTK,IH※IJpWDEUHU[JK,B[IJF7HP[oHUIEH\DWIUL+IEH4DJHL,YH+GEHUIEHUGJFLhIEH8I,lJUIEHULIH]DWDTK,ELZG4HZGEoLTpLIJFH4GJUIEaHULIHLK, L,YHp[JHPc4I,JH+GEH:LJDFIEicIJo9WWIEHcILHh[FIEHbJI[EUIEHLYH,LcDEGEHcITK,DooFH,DFFI7H-GJHUIJH]iTFIH+GEHIDL4DEH49JIHIJHcILED,IHLEHUIE 6LITIE4GhIEHILEITHIDLo[ETH+IJTK,4[EUIEaH4IEEHL,YHULIHEDFLGEDWK,LEITLTK,IH]JLIhTYDJLEIHELK,FHJIK,FpILFLhHp[H※LWoIHhIILWFH49JI7HSLIHqFJD|I +GEH\DWDKKDH4DJHL,YHIcIETGH+IJFJD[FH4LIHUIJHIEhIHS[JK,WD|HUITH8Dc^IW^\DEUIc7 JT»JiEhWLK,H,DFFIHLK,HTILEIHOEFTK,ILU[EhaHD[oHUIJHElJUWLK,IEH※D[»FLETIWHQI[TIIWDEUTHILEIHEI[IH※ILYDFHp[HT[K,IEaHYLFH+9FIJWLK,IJHqZI»TLT p[JH]IEEFELTHhIEGYYIE7HPcIJHDWTHLK,H‽IFpFHEDK,HILETFiEULhIYHbW[hH+GEHP[KZWDEUHEDK,H]IJL^]IJLH[EUHILEIJHW9EhIJIEHP[FGoD,JFHD[oHTILEIY PE4ITIEHILEFJIooIaH4LJUHYLJH+IJTF9EUWLK,aH4DJH[YHIJHUIYHILhIEDJFLhIEHND[cIJHULITIJH,DEUTK,DoFH+IJoLIW7H-GEHUIJH※l,IHUITHZGYoGJFDcWIE 6[EU,D[TITaHLEHUIYHIJHWIcFaHTK,4ILoFHUIJH8WLKZHicIJHILEIHT[cFJG»LTK,IaHYIETK,IEWIIJIH,DEUTK,DoFH+GEHTIWFIEIJHqK,lE,ILF7HSDTHi»»LhIHmJiE 4LJUHLYYIJH4LIUIJHU[JK,HFiJZLTTK,LYYIJEUIH\IIJITc[K,FIEHD[ohI,IWWF7 8ITGEUIJTHILEUJ[KZT+GWWH»J9hFHTLK,HYLJHULIHcLpDJJIHbIWToGJYDFLGEHILEaHILEIH»,DEFDTFLTK,IHQDF[JoITF[EhHYLFH4ILFH+GJhITK,GcIEIEa Z[hIWolJYLhIEHmITFILETcJGKZIEaHULIHULIHbDJYHEDK,HQGJUIEH,LEHDcTK,LJYF7HSLIH\DGJLaHULIH‽IETILFTHULITIJHEDFiJWLK,IEH8DJJLIJIHWIcIEaH,DcIEHUGJF L,JIHIGFIEHcITFDFFIFaH+IJI,JIEHUIEHMJFHDWTHqDEZF[DJL[YH[EUH4DK,IEHicIJHTILEHgIDc[n7HSLIHhIGhJD»,LTK,IHqLF[LIJ[EhH]IJL^]IJLTHILhEIFHTLK, +GJpihWLK,aH[YH※LTFGJLIH[EUHmIhIE4DJFHUITHg,DEUITHUIJHWDEhIEaH4IL|IEHVGWZIEnHp[HUI[FIE7 RYHYZJILTHUIJH8D›HGoHRTWDEUTH,DFFIEHULIHIJTFIEH]GEFDZFIHp4LTK,IEH\DGJLH[EUHO[JG»9IJEHTFDFFhIo[EUIE7HSLIH8IhIhE[EhIEH4DJIEHTI,J [EFIJTK,LIUWLK,IJHQDF[J7HP[oHULIH4DhIY[FLhIEHOEFUIKZIJHoGWhFIEHLYHT»9FIEHDK,FpI,EFIEHXD,J,[EUIJFH6GFFIEH+GEHVDWo9EhIJEH[EU 6GccIE‽9hIJEaH4LWUIaHcJ[FDWIHmITIWWIEaHULIHUIYH,I[FIHTGHcJD+IEHqF9UFK,IEH6[TTIWHYLFHL,JIJHqD[oIJILH[EUH※[JIJILHUIEHQDYIEHg※lWWIEWGK,HUIT :DpLoLZnH+IJTK,DooFIE7HqGHTD,IEHITH4IELhTFIETHULIH\LTTLGEDJIaHULIHYI,J,ILFWLK,HUIJHDEhWLZDELTK,IEH]LJK,IHDEhI,lJFIEH[EUHYLFHL,JIJHbJlYYIWIL
ZILEIEHPJK,L»IWHUITHqFLWWIEHMpIDETH+IJTK,GEFIE7HN4LTK,IEH\DGJLH[EUH8JLFIEHTGWWFIHITHLYYIJH4LIUIJHp[HcW[FLhIEHN[TDYYIETFl|IEHZGYYIEa DcIJHULIHTK,WLYYTFIEH\DTTDZIJHJLK,FIFIEHULIHqF9YYIHULITIJHZJLIhIJLTK,IEH6DTTIH[EFIJHL,JIThWILK,IEHDE7 8ILHUIEH»GW›EITLTK,IEHqIIoD,JIJEaHULIHILETFHD[oHL,JIEHFJG»LTK,IEHJT»J[EhT^PFGWWIEHp[H\i|LhZILFH[EUHIJ9h,ILFHEILhFIEaHTFIWWFIHTLK,HEDK,HUIE [E+GJTFIWWcDJIEHqFJD»DpIEHL,JIJHDcIEFI[IJWLK,IEHq[K,IHEDK,HQI[WDEUH[EUHUIJHTK,4LIJLhIEHOLEhI4l,E[EhHLEHhDEpHDEUIJIaH,9JFIJI ,IcIETcIULEh[EhIEHLYHg,DEUHUIJH4IL|IEHVGWZIEnHILEIHFLIohJILoIEUIaHoDTFHhIEIFLTK,IH-IJ9EUIJ[EhHILE7HqLIH,DFFIEHL,JIHicIJWLIoIJFI :oWDEpIEED,J[EhH;HicIJ4LIhIEUHqi|ZDJFGooIWEH[EUHXDYH;HLEHULIHoJIYUIHYhIc[EhHYLFhIcJDK,F7 PcIJHQI[TIIWDEUH+IJoihFIHicIJHZILEIH+LIWo9WFLhIHbD[ED7HSLIHOLEUJLEhWLEhIHTFLI|IEHD[oHILEIH4[K,FLhIaHoW[h[Eo9,LhIH-GhIWDJFaHg\GDnHhIEDEEFa ULIHcLTHp[Hp4IL,[EUIJFoiEopLhH]LWGH4GhH[EUHUG»»IWFHTGHhJG|H4DJH4LIHULIH[ETH+IJFJD[FIEHqFJD[|IHqiUDoJLZDT7H\LFHULITIYHmIFLIJH[EUHUIEHDEoDEhT pD,WJILK,H+GJ,DEUIEIEH6GccIEH[EUHqIIWl4IEHoiWWFIEHTLIHL,JIHbWILTK,Fl»oIaHcLTHTLIHULITIHmDFF[EhIEHD[ThIJGFFIFH,DFFIEH[EUHp[JH8ITK,Doo[EhH+GE »JGFILE,DWFLhIJHQD,J[EhHD[oHVDWUH+lhIWH[EUH6DFFIEHDEhI4LITIEH4DJIE7HSDp[HhITIWWFIHTLK,HDWTHhJD[TLhIHbGWhIH[ED[o,lJWLK,IJHFJLcDWLTFLTK,IJ bI,UIEHUIJH]GET[YH+GEH\IETK,IEoWILTK,aHUDTH-IJT»ILTIEHUIJHIJTK,WDhIEIEHbILEUIaH4LIHULIHYILTFIEHOF,EGWGhIEHcITF9FLhIE7 SLIH\DGJLHTLEUH+GEHmJ[EUHD[oHDEUIJTHDWTHULIHYLFWILUIJJIhIEUIEHPcGJLhLEITHP[TFJDWLIET7HP[K,H4IEEHTLIH4IUIJHqK,JLoFHEGK,H\IFDWWHZDEEFIEa IEF4LKZIWFIEHTLIHILEIHhI4DWFF9FLhIHOEIJhLIH[EUHS›EDYLZaHULIHp[YDWHLEHL,JIEH4LWUIEHI9EpIEHcIUJG,WLK,Hp[YHP[TUJ[KZHZDY7HR,JI OEFTFI,[EhTY›F,IEH[EFIJTK,LIUIEHTLK,H+GEHUIEHqK,l»o[EhTWIhIEUIEHUIJHDEUIJIEH-lWZIJHUITH»DpLoLTK,IEH6D[YTaHp[YDWH+GEHUIEHqDhIEHL,JIJ YIWDEITLTK,IEHQDK,cDJEHQI[ZDWIUGELIETaHULIHTLK,HTIWcTFHDWTHg]DEDZIEnaHUDTH,IL|FHDWTHg\IETK,IEnHcIpILK,EIEaH[EUHcLTHD[oHUIEH,I[FLhIEHIDh DWTH8iJhIJHILEITHIIJJLFGLJIHU6M[FJI^\IJHUIJHoJDEplTLTK,IEH6I»[cWLZH4ILFhI,IEUIHP[FGEGYLIHhIELI|IE7 SLIH\DGJLH+IJI,JIEHILEIH-LIWpD,WH+GEHQDF[JhlFFIJEaHULIHUIYH※LYYIWT+DFIJH6DEhLE[LH[EUHUIJHOJUIEY[FFIJH:D»DF[DE[Z[H[EFIJTFI,IE7HOLEI cITGEUIJIH6GWWIHT»LIWFHUIJH,IWULTK,IH※DWchGFFH\D[LaHUIJHULIHQGJULETIWHQI[TIIWDEUTHD[THUIYH\IIJHpD[cIJFIaHI,IHIJHp4LTK,IEHUIEHY9K,FLhIE qK,IEZIWEHUITH4ILcWLK,IEHbDcIW4ITIETH※LEIQ[L^II^:GHIJUJiKZFH4[JUI7 SIJH][WF[JHUIJH\DGJLH,DoFIFHIF4DTHE,ILYWLK,ITHDE7HSDp[HFJDhIEHULIHI9FG4LIJ[EhIEHGUIJHg\GZGnHcILaHULIHcILHUIEH]JLIhIJEHoDTFHUIEHhDEpIE ]lJ»IJHcIUIKZIEH[EUH,I[FIH4LIUIJHLEH\GUIHZGYYIE7H8ILHUIEHbJD[IEHcITK,J9EZFHTLK,HULITIHcWD[HhIpILK,EIFIaHTK,YIJp,DoFIH-IJpLIJ[EhHD[oHUIE YZJILTH+GEH]LEEH[EUH,L»»IE7HR,JIH»JDK,F+GWWIEH»GW›K,JGYIEH※GWpTK,ELFpIJILIEaHULIHoJi,IJHUIEHOLEhDEhHL,JIJHg\DInaHL,JIJHTDZJDWIE -IJTDYYW[EhTTF9FFIEaHTK,YiKZFIEH[EUHUIEHIGFIY»o9,WIEHUIJHREULDEIJHDYH»DpLoLTK,IEH6DEUH9,EIWEaH,DFFIEHp[JHNILFHUIJHhJG|IEH\LhJDFLGEHULI Y9K,FLhIEaHJGc[TFIEH]DE[THLEHcI4DooEIFIHqII^EhI,I[IJH+IJ4DEUIWF7 -GEHDWWHULITIYHND[cIJHLTFHLEHUIYH4ILFIEaHhJiEIEH,DEUHE[JHEGK,H4IELhHp[HIEFUIKZIEaHGc4G,WHTLK,HLYHYZJILTHUIJHbDJYHYILEITHqG,EITHILEI JIWDFL+HpD,WJILK,IH\DGJL^mIYILEUIHIJ,DWFIEH,DF7H-GYHI›»[TH,IJHEI,YIEHULITIH:GW›EITLIJaHULIHcILHPEZ[EoFHUIJHIJTFIEHO[JG»9IJHp4LTK,IE ,[EUIJF^H[EUH,[EUIJFoiEopLhFD[TIEUH\IETK,IEHhIp9,WFH,DcIEHUiJoFIEaHILEIHqGEUIJTFIWW[EhHILE7HSDEZHL,JIJHJGc[TFIEHcLGWGhLTK,IEH-IJDEWDh[Eh TG4LIHILEIJHLEFIETL+IEH-IJYLTK,[EhHYLFH4IL|IEHOLE4DEUIJIJEH,DcIEHTLIHicIJWIcF7 VIEEHTLIHLYHEI[EpI,EFIEHXD,J,[EUIJFHoDTFHD[ThIWlTK,FH4[JUIEaHTGH4DJHUDTH4IELhIJHD[oHULIHbIWUpihIHcJLFLTK,IJH]GWGELDWFJ[»»IE p[JiKZp[oi,JIEaHULIHYLFHPEIJZIEE[EhH+GEHUIJH[EhI4l,EWLK,IEH8JD+G[JHULITIJHRET[WDEIJHcIJLK,FIFIEaHDWTHD[oHULIHTGhIEDEEFIEH\[TZIFIEZJLIhIa ULIHTLIHYLFHI5FJIYIJHmJD[TDYZILFH[EFIJILEDEUIJHD[TFJ[hIE7HSLIHbI,UIEHpGhIEHTLK,HicIJHXD,JpI,EFIH,LE4IhH[EUH»oWDEpFIEHTLK,HcLTHp[Y 9[|IJTFIEHqiUIEHoGJFHLEHUIYH\D|IaH4LIHULIHqF9YYIHUITHQGJUIETHTLK,HDWTHIJTFIHYLFHUIEH\[TZIFIEHUIJHO[JG»9IJHD[TTFDFFIFIEH[EUHUDEZHULITIJ icIJWIhIEIEH8I4DooE[EhHTK,JLFF4ILTIHL,JIHPE+IJ4DEUFIEHUITHqiUIETH+IJELK,FIFIEHGUIJH[EFIJ4DJoIE7 ? P[oH[ETIJIJHbD,JFHp[HUIYHED,IEHPEZIJ»WDFpaH4GH6GYDETH8GGFHDEhIF9[FHWLIhFaH»DTTLIJIEH4LJH+IJTFJI[FIaHTI,JHDEhIWT9K,TLTK,HDEY[FIEUI MJFTK,DoFIEaHUIJIEH※9[TIJHU[JK,HmJiEoW9K,IEH+GEHUIEHQDK,cDJEHhIFJIEEFHTLEU7HSDcILHoDWWIEHD[K,HWDEhhITFJIKZFIaH+IJTK,WGTTIEIH8D[FIEHD[oaHULI +GEHUIEHGJFTDET9TTLhIEH\DGJLHDWTH-IJTDYYW[EhTJ9[YIHhIE[FpFH4IJUIEH[EUH+GJEI,YWLK,HUIYHP,EIEZ[WFHhI4LUYIFHTLEU7H8ILHUIEH\DGJLaHULI ,I[FIHIF4DHoiEopI,EH:JGpIEFHUIJHmITDYFcI+lWZIJ[EhHQI[TIIWDEUTHD[TYDK,IEaH,DFHLEHUIEH+IJhDEhIEIEHXD,JpI,EFIEHILEIHcIYIJZIET4IJFI JcDELTLIJ[EhHTFDFFhIo[EUIE7H,IcFIEHLYHXD,JH7>Y8HWD[FHqFDFLTFLZHE[JHTLIcpI,EH:JGpIEFHLEHUIEHqF9UFIEaHTGHLTFHULITIJHPEFILWHLEp4LTK,IEHD[o DK,FpLhH:JGpIEFH,GK,hITK,EIWWFaHGc4G,WHULIHcJLFLTK,IEH]GWGELTFIEHUIEHJILE4G,EIJEHEDK,HIEUWGTIYH:DWD+IJHJLITLhIHIIJJLFGJLIE p[JiKZIJTFDFFIFIE7H-GJHDWWIYHULIHX[hIEUH+IJo9WWFHUIJH,DEUoW[K,F7 VIEEHULIH\DGJLHTLK,HhIhIEicIJHUIEHVIL|IEH:JITFLhIH[EUHPETI,IEHcI4D,JIEHZGEEFIEaHUDTHUIEHYILTFIEH[EFIJ4GJoIEIEH]GWGELDW+lWZIJE +IJTDhFHcWLIcaHTGHLTFHUDTH4G,WHD[oHL,JIEHYDJFLDWLTK,IEH,IcIETTFLWH[EUHL,JIEH[EhI4l,EWLK,IEH]DY»oITY[FHp[JiKZp[oi,JIE7HRYHVDLZDFG^]JLIhH+GE 7f8YH,DFFIEHoiEoFD[TIEUH\DGJLHILEIJHcJLFLTK,IH5cIJYDK,FH+GEHp4DEpLhFD[TIEUHqGWUDFIEHUITHOY»LJIaHULIHYLFHTK,4IJIJHPJFLWWIJLIHDEhIJiKZFH4DJa ,DJFE9KZLhIEHVLUIJTFDEUHhIWILTFIFH[EUHL,JHTGhDJHIY»oLEUWLK,IHQLIUIJWDhIEHcILhIcJDK,F7HSLIHOJLEEIJ[EhHUDJDEHcWILcFHD[oHcILUIEHqILFIE WIcIEULh7 RYHmIT»J9K,HYLFHYILEIYHqG,EHIJoD,JIHLK,aHUD|HULIH+GEHK,JLTFWLK,IEH:JIULhIJEHhITK,iJFIH:JiUIJLIHTILEIJHEI[IEH※ILYDFHUIJH-IJhDEhIE,ILF DEhI,lJFH[EUHILEIJHUIYGETFJDFL+IEH:IJYLTTL+LF9FHhI4LK,IEHLTF7HSIJHq»GJFHcWILcFHoiJHULIH]L4LTH4ILFIJ,LEHULIH]JlE[EhHDWWIJHYIETK,WLK,IE I9FLhZILFIEH[EUH,LWoFHL,EIEaHULIH,DEhI4ILWIHUIJHqGEEFDhIHp[HicIJ4LEUIE7HPcIJHULIH:[cTHTK,WLI|IEHEI[IJULEhTHELK,FHYI,JH[YHTIK,TH,J DcIEUTaHTGEUIJEHUI,EIEHUIEHP[TTK,DEZHcLTHTIK,TH,JHYGJhIETHD[T7HSLIHZ[DWLF9FHUIJH\D,WpILFIEH,DFHTLK,H4ITIEFWLK,HhIcITTIJF7HSLIHoJi,IJ +IJDcTK,I[FIH※GYGTI5[DWLF9FHLTFH4ILFH+IJcJILFIFH[EUHTFIWWFHTLK,HG,EIH※IYY[EhIEHp[JHqK,D[7 \LFH6GYDETH8GGFaHUDTHILEIHVIWF[YTIhW[EhH,LEFIJHTLK,H,DFaHUJLEhIEH4LJHLEHULIH8D›HGoHRTWDEUTH+GJ7HVLJHEI,YIEHILEH8DUHLYH:DpLoLZaH[EUHUDT VDTTIJHLTFH4ILFHZi,WIJaHDWTHLK,HITHIJ4DJFIFH,DFFI7HSLIHqGEEIH,LEhIhIEHcJIEEFHTK,YIJpWLK,HD[oHUIJH※D[F7HREHULITIJHVIWFhIhIEUH4LJUHL,JI qFJD,WIE4LJZ[EhHU[JK,HILEHMpGEWGK,HLEFIETL+LIJF7H8ILHUIEH4IL|IEHP[TFJDWLIJEH[EUHQI[TIIW9EUIJEHp9,WIEH※D[FZJIcTH;H\IWDEGYH[EUH8DTDWLGYH; p[HUIEH,9[oLhTFIEaHGoFHFlUWLK,IEHOJZJDEZ[EhIE7HSLIH:DZI,DH,DcIEHTLK,HYLFHL,JIJHIJUJiKZIEUIEH5cIJYDK,FH,LIJHIFDcWLIJIEHZlEEIE7HPcIJHULI ZGTYLTK,IEHqFJD,W[EhIEaHhIhIEHULIHULIHOLEhIcGJIEIEH[EIY»oLEUWLK,HTLEUaHTK,ILEIEHTLK,HDEHUIEHcWD|,9[FLhIEaHcWGEUIEHOLEUJLEhWLEhIEHD[T 8JLFDEELIEH[EUHRJWDEUHp[HJ9K,IE7 PEHULITIYHqGEEFDhHTLEUHpD,WJILK,IHDEUIJIHqIhWIJH[EFIJ4IhT7HYHUIYHqK,4DJYH+GEHIG[JLTFIEHp[HIEFhI,IEaHWIhIEH4LJHELK,FHDEHUIJ ,DEUp[EhIH+GEH6[TTIWHDE7H-GYHqK,LooHD[THIJcWLKZIEH4LJHUDTHcIJi,YFIHIJIDF›H※G[TIH+GEHVDLFDEhLaH4GHLYHXD,JH7f9eHp4LTK,IEHUIYHIJTFIE cJLFLTK,IEHmG[+IJEI[JH[EUH9*H\DGJL^※9[»FWLEhIEHILEH-IJFJDhH[EFIJpILK,EIFH4[JUIaHUIJHcLTH,I[FIH4LIHILEIH»DpLoLTK,IH\DhEDHC,DJFDHULI 8IpLI,[EhIEHp4LTK,IEHOLE,ILYLTK,IEH[EUH4IL|IEH]GWGELTDFGJIEHJIhIWF7HOTH,DFFIEHTLK,HDEoDEhTHE[JHp4ILFD[TIEUH:DZI,DHD[oHUIJHQGJULETIW ELIUIJhIWDTTIEaHDcIJHULITIHND,WH4[JUIHU[JK,HUIEHg6[T,naHULIHYDTTL+IHN[4DEUIJ[EhH+GEHO[JG»9IJEHcLEEIEHoiEopLhHXD,JIEaHD[oHILEIH,DWcI
\LWWLGEH+IJYI,JF7 SIJH-IJFJDhH+GEHVDLFDEhLH4DJHLEHp4ILHq»JDK,IEaHOEhWLTK,H[EUH\DGJLaHDchIoD|F7HSLIHII5FIHULooIJLIJFIEHIJ,IcWLK,7HREHUIJHIEhWLTK,IEHbDTT[Eh 4[JUIH[EFIJHVD,J[EhHcIhJIEpFIJHOLhIEJIK,FIHUIJH:GW›EITLIJHULIHP[FGJLF9FHUIJHcJLFLTK,IEH-IJ4DWF[EhHcIFGEF7HRYHII5FHUITH\DGJL^SGZ[YIEFT 4[JUIEH,LEhIhIEHULIH-GJJIK,FIHUIJH※9[»FWLEhIH+IJDEZIJFH[EUH+GJHDWWIYHUIJH,DEUcITLFpHUIJHqF9YYIHhDJDEFLIJF7HPWTHbGWhIHUIJHUL+IJTIE g,DEUZJLIhInaHULIHoDTFHp[JHP[TWlTK,[EhHUIJHJcI+lWZIJ[EhHhIoi,JFH,9FFIEaHTK,J[Y»oFIHUDTHqLIUW[EhThIcLIFHUIJH\DGJLH4LIHILEHC,DhJLEWIUIJ7H8IL UIEH:DZI,DHoDEUH‽IUGK,HTI,JHcDWUHILEIH»GWLFLTK,IHq»DWF[EhHLEH]GETIJ+DFL+IH[EUH,LcIJDWIHTFDFF7HSLIHmI4IJZTK,DoFIEHhI4DEEIEHILEHTGWK,IT mI4LK,FaHUD|H:JGoITTGJIEaHULIHULIH]L4LHcIT[K,FIEaHL,EIEHg,ILUIETK,DoFHoiJHTGpLDWIHmIJIK,FLhZILFnHcITF9FLhFIE7HSLITIJHmWILK,,ILFTLETFLEZFHZDY DYHOEUIHD[K,HUIEH\DGJLHp[h[FIaHULIHUDEZHp[EI,YIEUIJHmIc[JFIEpD,WIEH4LIUIJHDEHmI4LK,FHhI4DEEIE7 SIJHIEFTK,ILUIEUIHVIEUI»[EZFH+GWWpGhHTLK,H[EFIJHILhIEDJFLhIEHYTF9EUIE7HVIEEHQI[TIIWDEUHTLK,HUIoLELFL+Hp[HILEIYHcLEDFLGEDWIE qFDDFT4ITIEHIEF4LKZIWFIH;H]L4LH[EUH\DGJLH;H[EUHUIJIEH»GW›EITLTK,ITHRULGYHEIcIEHUIYHOEhWLTK,IEHDWTHGooLpLIWWIHq»JDK,IHDEIJZDEEFH4[JUIaHTG LTFHUDTHUIJHDWWITHcI,IJJTK,IEUIEH8IhILTFIJ[EhHoiJH‽IUIHbGJYH+GEHq»GJFaHDEHIJTFIJHqFIWWIHDcIJHoiJH6[hc›aHp[H+IJUDEZIE7 OTHhITK,D,HLYHXD,JH7>f77HSDYDWTHhLEhIEHNI,EFD[TIEUIHWLcIJDWIJHQI[TIIW9EUIJHD[oHULIHqFJD|IaH[YHhIhIEHULIHPEZ[EoFHUITHTiUDoJLZDELTK,IE 6[hc›FIDYTHgq»JLEhcGZTnHp[H»JGFITFLIJIE7HREHUIJH\DEETK,DoFHgPWWH8WDKZTnH4DJIEHpD,WJILK,IH\DGJLHDWTHcITGEUIJTHcI49,JFIH[EUHJiUIHq»LIWIJ ,GK,hITK,9FpF7H6[hc›aHTGH,LI|HITHLEHUIJH:JITTIH+GEHP[KZWDEUaHTILHoiJHUIEHN[TDYYIE,DWFHULITITHoIJEIEHcJLFLTK,IEHSGYLELGETHIcIETGH4LK,FLh 4LIHULIHIILWED,YIHDYHN4ILFIEHVIWFZJLIh7HSLIHTiUDoJLZDELTK,IEHq»GJFWIJHIJTK,LIEIEHLEHUIEHP[hIEHUIJH]L4LTHD[ohJ[EUHUIJHP»DJF,ILU^:GWLFLZ L,JIJH6IhLIJ[EhHDWTH[Ep[Y[FcDJIaH‽DHTK,9EUWLK,IH:DJFEIJ7 SLIHgIG[JnaHTGHLTFHUDTHOJILhELTHLEHULIHmITK,LK,FIHILEhIhDEhIEaH,DFHhWILK,Hp4ILHhI4LK,FLhIHOEF4LKZW[EhIEHD[ThIWlTF7HSLIHVIWWIHUIJHOY»lJ[Eh hIhIEHULIHJDTTLTFLTK,IHSLTZJLYLELIJ[EhHLEHqiUDoJLZDH,DFHUIEHIEUhiWFLhIEHS[JK,cJ[K,HUIJH\DGJLHp[JHTFDDFTciJhIJWLK,IEHmWILK,cIJIK,FLh[Eh cI4LJZF7HPYHOEUIHUIJH6I,DcLWLFLIJ[EhHUIJHEI[TIIW9EULTK,IEHJ^6DTTIHTFDEUHULIH5cIJILhE[EhHILEITHLYYIETIEHVDWUhIcLIFTH+GEH7=8Heee ※IZFDJaHILEH6I+LIJHLYHmIhIE4IJFH+GEHd=eH\LWWLGEIEHO[JGaHDEHUDTHY9K,FLhTFIHqFDYYITZGWWIZFL+7HSLIH6IhLIJ[EhH+GEHVIWWLEhFGEHYDK,FIHTLK, TGYLFHULIH\DGJL^P[TWIh[EhHUITHWIhIEU9JIEH-IJFJDhTH+GEHVDLFDEhLHD[THUIYHXD,JH7f9eHp[HILhIE7 SLIHTIETDFLGEIWWTFIHP[T4LJZ[EhHIJpLIWFIHUIJHqFJILFH[YHULIHg6[hc›^IG[JnH‽IUGK,HLEHqiUDoJLZD7HSLIHUGJFLhIEHVIL|IEH,DFFIEHULI VLJFTK,DoFTTDEZFLGEIEHUIJH-IJILEFIEHQDFLGEIEaHULIH4IWF4ILFIH-IJ[JFILW[EhHUIJHg:LhYIEFGZJDFLInHcLTWDEhHYLFHJIWDFL+IJHmIWDTTIE,ILFHIJFJDhIE7 XIFpFHoDEUHILEH»T›K,GWGhLTK,IJHYTK,4[EhHTFDFF7HSLIH8[JIEaH9,EWLK,HT»GJFcITITTIEH4LIHP[TFJDWLIJH[EUHQI[TIIW9EUIJaHZGEEFIEHITHELK,F IJFJDhIEaHUD|HL,JIH,IL|hIWLIcFIEHgq»JLEhcGZTnH4LIHP[TT9FpLhIHcI,DEUIWFH[EUH+GEHLEFIJEDFLGEDWIEHVIFFZ9Y»oIEHD[ThITK,WGTTIEH4iJUIEaHUD| ULIHQI[TIIW9EUIJHTLIHELK,FHLEHL,JIEHqFDULIEHU[WUIEH4GWWFIE7
g※DWFIFHULIHqFIWW[Eh‾n REHUIEH:[cTH+GEHP[KZWDEUHZDEEHYDEHTLK,H,lK,TFH[EhIp4[EhIEH[EUHWGKZIJHicIJHULIH»GWLFLTK,IEH-IJ9EUIJ[EhIEH[EFIJ,DWFIEaHULIHQI[TIIWDEU U[JK,WD[oIEH,DF7HqI,JHoJi,H4DJH,LIJHULIH:GWLFLZHIhDWLF9JH[EUH»JGhJITTLTFLTK,HGJLIEFLIJF7HPWTHIJTFIJHqFDDFHUIJHVIWFHoi,JFIHQI[TIIWDEUH7f>YHUDT bJD[IE4D,WJIK,FHILE7HSIJHFJL[Y»,LIJIEUIHbIYLELTY[TH4[JUIHEDK,H[EUHEDK,Hp[YH\IJZYDWHUIJHYILTFHD[oHULIH,DcG[JH:DJF›HhITFiFpFIE 6IhLIJ[EhIE7HSDTH8LWUHUIJHIEIJhLTK,IEH-GJZ9Y»oIJLEHoIYLELEIJHOYDEpL»DFLGEaH]DFIHq,I»»DJUaHULIHLYHPWFIJH+GEH=fHXD,JIEHp[YHp4ILFIEH\DW ,ILJDFIFIaHpLIJFHULIHNI,EUGWWDJEGFI7 RYHXD,JH7>>>HIJJILK,FIHULIH8IY[FFIJ[EhHU[JK,HILEIEHg4ILcWLK,HGJLIEFLIJFIEHqGpLDWTFDDFnaH4LIHULIHZGETIJ+DFL+IH:DJFILHITHIY»oDEUaHL,JIE ※l,I»[EZFaHDWTH※IWIEHCWDJZaHD[K,HULIHg6GFIH※IWIEnHhIEDEEFaHULIHVD,WHhI4DEEH[EUHUIEH:GTFIEHUIJH:JIYLIJYLELTFIJLEHicIJED,Y7HSLIHJITGW[FI SGpIEFLEHUIJH:GWLFGWGhLIaHULIHTLK,HDWTH,ITcLIJLEHG[FIFIaH,DFHTLK,Hp4ILHPYFT»IJLGUIEHWDEhHcI,D[»FIFH[EUHTGWWFIHIJTFHLYHQG+IYcIJHdeefHU[JK, UIEHZED»»HoiEopLh‽9,JLhIEHZGETIJ+DFL+IEHXG,EH]I›HDchIWlTFH4IJUIE7HSLITIJHYDJZFGJLIEFLIJFIaH,GK,H+IJYlhIEUIH]GETIJ+DFL+IaHUITTIEH‽iULTK,I \[FFIJH7>Y>HD[TH@TFIJJILK,HhIoWG,IEH4DJaHLTFH‽IUGK,HDWWITHDEUIJIHDWTHILEH6IDZFLGE9J7HSDTH4DJHTK,GEHDEHTILEIYH8ITK,W[|Hp[HIJZIEEIEaHYLFHUIJ \DGJL^:DJFILaHULIHYLFHoiEoHPchIGJUEIFIEHLYH:DJWDYIEFH+IJFJIFIEHLTFaHILEIH]GDWLFLGEHILEp[hI,IE7H\ILE[EhToGJTK,IJEHp[oGWhIHZlEEFIHULIHdee9 hIhJiEUIFIH\DGJL^8I4Ih[EhHILEITHIDhITHTGhDJHLYH8DWDEKIT»LIWHp4LTK,IEH,DcG[JH[EUH]GETIJ+DFL+IEHUIEHP[TTK,WDhHhIcIE7 SLIH8IpLI,[EhIEHp[HP[TFJDWLIEHTLEUHEDF[JhIY9|HIEh7HmIhIEicIJHmJG|cJLFDEELIEHIEF4LKZIWFIHTLK,H‽IUGK,HILEIH4DK,TIEUIHSLTFDEpLIJ[Eha EDK,UIYHULIH,GEUGEIJH6IhLIJ[EhHUIJHO[JG»9LTK,IEHELGEHcILhIFJIFIEH4DJ7HSLIH\IEFDWLF9FHLTFHJIK,FH[EFIJTK,LIUWLK,Hp4LTK,IEHq›UEI›H[EU P[KZWDEU7HP[TFJDWLIEHhLWFH4ILFIJ,LEHDWTHg\DK,G^,DEUnH[EUH+GWWpLI,FHTILEIH[E+IJYILUWLK,IHTGpLGWGhLTK,IHY4DEUW[EhHE[JHTK,JLFF4ILTIH[EFIJ UIYHOLEoW[|HY[WFLZ[WF[JIWWIJHOLE4DEUIJ[EhHD[THDWWIJHVIWF7 EFIJHUIJH6IhLIJ[EhToi,J[EhH※IWIEHCWDJZTH,LEhIhIEHTFIWWFIHILEHgmIEUIJHmD»H6I»GJFnHoITFaHUD|HLEHQI[TIIWDEUHELK,FHE[JHUDTHPYFHUIT :JIYLIJYLELTFIJTaHTGEUIJEHD[K,HUDTHUITHmIEIJDWhG[+IJEI[JTaHUIJHULIHcJLFLTK,IH]JGEIH+IJFJLFFaHUITH:DJWDYIEFT»J9TLUIEFIEaHUITH,lK,TFIE 6LK,FIJTaHUITHmIEIJDWTFDDFTDE4DWFTHTG4LIHULIH8iJhIJYILTFIJ9YFIJHUIJHUJILHhJl|FIEHqF9UFIH+GEHPEhI,lJLhIEHUITHgUI[5L[YIHTI5InHcITIFpF 4DJIE7HqLYGEIHUIH8ID[+GLJHZlEEFIHTLK,HhWiKZWLK,HTK,9FpIEHLYH,DEUHUIJHWDEhIEH4IL|IEHVGWZIE7 RYHhIY9K,WLK,IEHIDhITDcWD[oHT»LIWFHULITIHYGUIJEIHbGJYHUITH\DFJLDJK,DFTHZILEIHEIEEIET4IJFIH6GWWIaHTK,DooFH‽IUIEoDWWTHZILEIH]GEoWLZFIaH4LI 6GYDEHYLJH+IJTLK,IJF7H\LFHUIEH\DGJLaHUIJIEHK,GWIJLTK,ITHIIY»IJDYIEFHp[JHmI4DWFF9FLhZILFHEILhFH[EUHULIHDWWp[HGoFHUIYHPWZG,GWHoJlEIEaH,DFHIJ ELK,FHULIHhIJLEhTFIEH:JGcWIYI7HSLIH]L4LTHTILIEHLEThITDYFHoJI[EUWLK,IaH,LWoTcIJILFIHQDK,cDJE7HPWWIEoDWWTHULIHQI[ILE4DEUIJIJHD[THOEhWDEUaHULI GoFHUIJHCGKZEI›^qK,LK,FHUIJH\IFJG»GWIHDEhI,lJIEaH4iJUIEHhIWIhIEFWLK,H[EDEhIEI,YHD[ooDWWIEaHDcIJHUDTHhWILK,IHhLWFH‽DHD[K,HoiJH‽IEI pD,WJILK,IEH8JLFIEaHULIHTLK,HEI[IJULEhTHYDTTL+HLEH+IJTK,LIUIEIEHoJDEplTLTK,IEHS\»DJFIYIEFTHELIUIJWDTTIE7HVLIHIEFZJDY»oFHTLK,HUDTH-IJ,9WFELT p4LTK,IEH:DZI,DH[EUH\DGJLHhITFDWFIFaHZDEEHYILEHqG,EHDEHUIJHP[TcLWU[EhHLYH]DY»oT»GJFHIDIZ4GEUGHIJ»JGcIEaHUIEHIJHUIEHhIYLTK,FJDTTLhIEa YILTFH‽[hIEUWLK,IEHIJDLEIITHTILEIJHYhIc[EhHIJFILWF7 mIYILETDYHYLFHUIEHgP[TTLITnH,DcIEHEI[TIIW9EULTK,IHqGWUDFIEHDEHUIEH:DpLoLpLIJ[EhTDZFLGEIEHLEHMTF^ILYGJH[EUHD[oHUIEHqDWGYGE^RETIWE FILWhIEGYYIE7HP[oHWIFpFIJIYHPJK,L»IWH4DJHULIHbILEUTIWLhZILFHUIJHYIWDEITLTK,IEHOLEhIcGJIEIEHhIhIEHULIHK,LEITLTK,IH\LEUIJ,ILFaHULIHLEH※DEUIW [EUHVLJFTK,DoFHILEIHIJUJiKZIEUIH\GEG»GWTFIWW[EhHDEHTLK,HJL|aHp[HcW[FLhIEH:GhJGYIEHD[ThIDJFIF7HqG4G,WHLEH※GEULDJDHDWTHD[K,HSLWL [EFIJTK,ILUIFHTLK,HUDTHYLWLF9JLTK,IH-GJhI,IEHUIJH]L4LTHU[JK,HhJl|IJIH8I,[FTDYZILFH[EUHhITK,YILULhIJIEHYhDEhHYLFHUIEHIEFoITTIWFIE P[oJi,JIJE7HRYHP[|IEYLELTFIJL[YH+GEHVIWWLEhFGEH4LJUH8IUD[IJEHUDJicIJHhI9[|IJFaHUD|HULIHgP[TTLITnHTLK,HcILYHO5»IJLYIEFHUITHgQDFLGE
8[LWULEhnHLYH4ILFIEH»DpLoLTK,IEHYoIWUHDEHUIEHJD[,cILELhIEHDYIJLZDELTK,IEH\IF,GUIEHGJLIEFLIJIEaH49,JIEUHULIH]L4LTHhJG|IH6iKZTLK,FHD[oHULI oJIYUIEHmITIWWTK,DoFTTFJ[ZF[JIEHEI,YIE7 -GEHUIYHqK,[Fp^H[EUHIJ[FpciEUELTaHUDTHUIJHZGETIJ+DFL+IHD[TFJDWLTK,IH:JLYIH\LELTFIJHXG,EH※G4DJUHYLFHUIJHDYIJLZDELTK,IEH8[T,^ PUYLELTFJDFLGEHUIHoDKFGHhITK,WGTTIEH,DFFIaH,9WFHYDEHTLK,HLEHVIWWLEhFGEHD[oHSLTFDEp7HSLIH6GWWIHUIJHqPHDWTH[E+IJpLK,FcDJIJHqLK,IJ,ILFToDZFGJ 4LJUHp4DJHDEIJZDEEFaHDcIJHULIHT[ZpITTL+IEH6IhLIJ[EhIEHQI[TIIWDEUTH,DcIEHTLK,HTFIFTHTK,4IJhIFDEHYLFHUIJHE[ZWIDJHGJLIEFLIJFIEHqFJDFIhLI VDT,LEhFGET7H\LFH]IJE4DooIEHcITFiKZFIH]JLIhTTK,LooIHUIJHqHQD+›H4IJUIEHLEHEI[TIIW9EULTK,IEH※9oIEHELK,FHhIU[WUIF7 qGH4DJHITHELK,FH+IJ4[EUIJWLK,aHUD|HTLK,HLYHXD,JH7>f*HUIJHhIcDWWFIHNGJEHUIJH]L4LTHhIhIEHbJDEZJILK,HJLK,FIFI7HOTH4DJHZILEHmWDEpTFiKZaHUDTHUIJ oJDEplTLTK,IHmI,ILYULIETFHLYH※DoIEHP[KZWDEUHLETpIELIJFIaHDWTHIJHhIhIEHUDTHbWDhhTK,LooH+GEHmJIIE»IDKIaHULIHg6DLEcG4HVDJJLGJnaHILE q»JIEhTFGooDFFIEFDFH+IJicFI7H:J9TLUIEFH\LFFIJJDEUH,DFFIHD[oHUIYHoJDEplTLTK,IEHPFGWWH\[J[JGDHULIHNiEU[EhHEI[IJH]IJE4DooIEHDEhIGJUEIFH[EU ULIHLEFIJEDFLGEDWIEHY4IWFTK,iFpIJHD[oHUIEH:WDEHhIJ[oIE7HN4DJH4[JUIHULIHg6DLEcG4HVDJJLGJnH+IJTIEZFH;HUDcILHZDYHTGhDJHILEH»GJF[hLITLTK,IJ PZFL+LTFH[YTH,IcIEH;aHDcIJHp4ILHoJDEplTLTK,IHREFIWWLhIEKI^MooLpLIJIaHULIHTLK,HDWTHIG[JLTFIEI,I»DDJHhIFDJEFH,DFFIEaH4[JUIEH+IJ,DoFIFH[EUHIJTF EDK,HI5FJIYHTK,4LIJLhIEH-IJ,DEUW[EhIEH4LIUIJHoJILhIWDTTIE7 ? 8I+GJHTLIHULIH6IhLIJ[EhToi,J[EhHDEHL,JIEHZGETIJ+DFL+IEH6L+DWIEHXG,EH]I›HDcFJDFaH,DFFIHULIHTIWcTFcI4[|FIH,DcG[J^C,IoLEH※IWIEHCWDJZHTLK, hI4ILhIJFaHQI[TIIWDEUHLEHULIHTFJDFIhLTK,IHOLEZJILT[EhT»GWLFLZHILEp[JIL,IEaHULIHmIGJhHV7H8[T,HULTZJIFaHDcIJHEDK,,DWFLhHhIhIEHULIH-GWZTJI»[cWLZ C,LEDHcIFJLIc7HREHVIWWLEhFGEH,LIWFIEHULIH\LWLF9JI5»IJFIEHELK,FHTGEUIJWLK,H+LIWH+GEHUIEHDWDJYLTFLTK,IEHPEDW›TIEHUIJH6DEUHCGJ»GJDFLGEaHULIHcIJILFT oiJHUDTHXD,JHdedeHILEIH8IUJG,[EhHUIJHq^SGYLEDEpHLYHVITF»DpLoLZHU[JK,HILEIHDEhIcWLK,HhLhDEFLTK,IHP[oJiTF[EhHUIJHK,LEITLTK,IEHbWGFFI +GJD[TTDhFI7H8IUIEZWLK,IJHTILHULIHOEF4LKZW[EhHUITHcDWWLTFLTK,IEH:GFIEFLDWTHUIJH-GWZTcIoJIL[EhTDJYIIaHUDTHTLK,HoiJHUIEHIJDET»GJFHE[ZWIDJIJ q»JIEhZl»oIHILhEIEH4iJUI7HbiEoHTFJDFIhLTK,IH:JLEpL»LIEH4[JUIEH+GEHUIJH6DEUHCGJ»GJDFLGEHIJDJcILFIFaH[YHUIJHghIWcIEHmIoD,JnHp[HcIhIhEIE7 SLIHTiUWLK,IEHPEJDLEIJTFDDFIEHUITHqFLWWIEHMpIDETH;HP[TFJDWLIEH[EUHQI[TIIWDEUH;HgUG4EH[EUIJnH[EUHgUG4EHUG4EH[EUIJnaH4LIHYDEHYLF LJGELTK,IYHEFIJFGEHTDhFH;HEI,YIEHYLFHhIYLTK,FIEHmIoi,WIEHp[JH]IEEFELTaHUD|HcILHULITIYHDYIJLZDELTK,IEH]JLIhTT»LIWHTGhDJH+GE +GJcI[hIEUIEHQ[ZWIDJTK,W9hIEHULIH6IUIHLTF7HSLIHTFJDFIhLTK,IEHgF,LEZHFDEZTnHUIJHqPaHTGHYILEFHYDEH,LIJaHJ9[YIEHUIJHILhIEIEHPJYDUDH+GE bW[hpI[hFJ9hIJEHGooIEcDJHEGK,HILEIH8IUI[F[EhHILEaHULIHTLIHTILFHUIJHqIITK,WDK,FH+GEH\LU4D›HW9EhTFHILEhIci|FH,DcIEHUiJoFI7 qLIH[EFIJTFJILK,IEH‽IUGK,Hp[H6IK,FHULIHp[JHNILFHZD[YHIJ»JGcFIEHmIoD,JIEHUITHgC›cIJHVDJnaHUIJHUIEHC,LEITIEHLYHOJETFoDWWHI+IEF[IWWHIJWD[cIE 4iJUIaHUDTHicIJD[THZGY»WLpLIJFIH[EUH+IJ4[EUcDJIHQIFp4IJZHUIJHDYIJLZDELTK,IEH-IJcLEU[EhT^aH5cIJ4DK,[EhT^H[EUH]GYYDEUGT›TFIYIHp[ +IJ4LJJIEaHp[HW9,YIEaH‽DHp[HEI[FJDWLTLIJIE7 RYHmIhIETDFpHp[HUIYHLEp4LTK,IEHDchI49,WFIEH6IhLIJ[EhTK,IoHP[TFJDWLIETHXG,EH※G4DJUaHUIJHTLK,HoDTFHcIULEh[EhTWGTHYLFHmIGJhIHV7H8[T, TGWLUDJLTLIJFIH[EUH;HcILHDWWIJHREFIETL+LIJ[EhHUITHoiJHcILUIHqILFIEHIJT»JLI|WLK,IEH※DEUIWTD[TFD[TK,THYLFHC,LEDH;HULIH4ILFH+IJcJILFIFIH8IoiJK,F[Eh TILEIJH,DEUTWI[FIH+GJHUIYHP[oZGYYIEHILEIJHghIWcIEHmIoD,JnHFILWFIaHIJ4ILTFHTLK,HTILEHQDK,oGWhIJH]I+LEH6[UUHDWTHZi,WIJH6IDWLTF7 SLIHQI[TIIW9EUIJaHULIHTLK,HUDJDEHhI4l,EFH,DFFIEaHULIHSL»WGYDFLIHL,JIJHD[TFJDWLTK,IEHQDK,cDJEHYLFHUIJH\IEFDWLF9FHJD[,IJHg\DFITnHD[THUIY gM[FcDKZnHGUIJHUIYHhIT»LIWFIEHSJD[oh9EhIJF[YHILEITHCJGKGULWIHS[EUIIHp[HIJZW9JIEaHTFIWWIEHcIoJLIULhFHoITFaHUD|HYLFHUIYH,GK,hIcLWUIFIE REFIWWIZF[IWWIEH]I+LEH6[UUHILEHhDEpHDEUIJIJHI›»[THp[YHN[hIHZGYYF7HPWTHIJTFIHPYFT,DEUW[EhHED,YHIJHULIHEFIJpILK,E[EhHUITH]›GFG^ :JGFGZGWWTHicIJH]WLYDTK,[FpH+GJ7HSLIHP[TTDhIHUIJHQI[TIIW9EUIJLEH※IWIEHCWDJZaHULIHicIJ4LIhIEUH+GEHVIL|IEHcI+lWZIJFIEHqFDDFIEHDYHqiUJDEU UITH:DpLoLZTH[EUHPTLIETHYi|FIEHcIhJILoIEaHgUD|HTLIHLEHILEIJH6IhLGEHWIcIEaHLEHUIJHDWWIH[EFIJTK,LIUWLK,HTLEUaH[EUHUD|HUIJHN4DEhHcITFI,FaHUDYLF +IJEiEoFLhH[Yp[hI,IEnaHZlEEFIH+GEH]I+LEH6[UUHTFDYYIE7 ,IFpFIJIJaHUIJHTK,GEHmIoD,JHWLIoaHLEHUIEH6[oHILEITHcWD[9[hLhIEaHIF4DTHEDL+IEHI[hIEUcGWUITHp[HhIJDFIEaHUIJH;HD[THcITK,ILUIETFIE -IJ,9WFELTTIEHTFDYYIEUH;HTILEHqF[UL[YHDWTH:[FpYDEEHoLEDEpLIJFH,DFFIaHhI4DEEHp[T9FpWLK,IHq›Y»DF,LIHcILHTILEIEH,DEUTWI[FIEaHDWTHULITIJ +GJcLWUWLK,IHO,IYDEEH[EUH-DFIJH+GEHUJILH]LEUIJEHLYHN[TFDEUHTFDJZIJHPWZG,GWLTLIJ[EhHLEHILEIYHp4LIWLK,FLhIEHqFJL»^,GZDWHhITLK,FIFH4[JUI7 ? OTHLTFHYILEHWIFpFIJHPcIEUHoDYLWL9JIJH※DJYGELIHDEHUIJH8D›HGoHRTWDEUT7HPYHQDK,YLFFDhHLTFHZi,WIJH6IhIEHicIJHUIJHT[cFJG»LTK,IEH,DEUTK,DoF ELIUIJhIhDEhIE7HSDEEHT»DWFIFH6DEhLE[LaHUIJH-DFIJHUITH※LYYIWTaHUDTHmI4lWZ7HSLIHT»9FIHqGEEIHTIFpFHUIYHY9K,FLhIEHbIWTYDTTL+HUIJ P,EIEhJ9cIJHILEIHcWDTTIHqFJD,WIEZJGEIHD[o7HVIJHLEHO[JG»DH+GEHQI[TIIWDEUHJIUIFaHUIEZFH[E4LWWZiJWLK,HDEHULIH-IJoLWY[EhHUITHg※IJJEHUIJ 6LEhIn7HRK,HY[|HhITFI,IEaHUD|HLK,HDEHULITIJHDJFLoLpLIWWIEHbDcIW^H[EUHmJ[TIW4IWFHZILEIEHmIoDWWIEHoLEUIEHZDEE7HSDTHYGUIJEIHQI[TIIWDEU »J9TIEFLIJFHTLK,HE[EHILEYDWHDWTHTI,JH»JDhYDFLTK,IJHP[|IE»GTFIEHI[JG»9LTK,IJH,IcIETDJFaH[EUHULIHYILHTFIEH]L4LTHEILhIEHELK,FHp[HJGYDEFLTK,IE ※ILWT+LTLGEIE7 SLIH\DGJLHTLEUHYLFHZED»»IJHQGFHUIJHmIoD,JHIEFhDEhIEaHUD|HL,JIHo[JK,FIJJIhIEUIEH6LF[DWIaH‽DHL,JIHhITDYFIH][WF[JaHp[JHbGWZWGJIHIEFDJFIE7HSLI EI[IH8I4[|FTILETcLWU[EhHULITIJH6DTTIH+GWWpLI,FHTLK,HELK,FHLEHUIEHIDc[pGEIEHL,JIJHmILTFIJ4IWFHGUIJHLYHSLKZLK,FH+GEHg]LEh6THCG[EFJ›naH4GHILE »DDJH\GFGJJDUJGFFIEHFJGFpLhIJHX[hIEUWLK,IJHcI4DooEIFIEHVLUIJTFDEUH»JGcIE7HSLIHVLIUIJhIc[JFH+GWWpLI,FHTLK,HLEHUIJHTK,ILEcDJIEHPEGE›YLF9FHUIJ qF9UFIaHLEHP[KZWDEUHp[YDWaH4GHLEp4LTK,IEHoDTFH‽IUIJHUJLFFIHQI[TIIW9EUIJHDET9TTLhHLTF7 P[oHUIJHbDJYH,DcIHLK,HD[oYIJZTDYH[EUHcIILEUJ[KZFHILEIEHD[F,IEFLTK,IEH]JLIhTFDEpaHILEIEHg※DH※DnaHcIGcDK,FIFaHUIEH6GYDEHILEH»DDJ \GEDFIHp[+GJHhIoLWYFH,DFFI7HJT»JiEhWLK,HULIEFIHUIJH※DH※DHUDp[aH+GJH8IhLEEHUIJHqK,WDK,FHUIYHhIhEIJLTK,IEHqFDYYHGUIJHoJIYUIEHOLEUJLEhWLEh qK,JIKZIEaH‽DHOEFTIFpIEHILEp[oWl|IE7HSIJHP[oFJLFFH4LJZFHLEHUIJHIDFH4LIHILEHTK,JIKZWLK,IJHq»[Z7HbDTFHEDKZFHFJIFIEHULIH]JLIhIJHDE7H5cIJHUIEHhDEpIE ]lJ»IJaH+GJHDWWIYHLYHmITLK,FaHTLEUHTLIHcWD[HF9FG4LIJF7HSLIH\9EEIJHcI4IhIEHL,JIHTK,4IJIEH\[TZIW»DZIFIHLEHTFDY»oIEUIYH6,›F,Y[TaHTFG|IE hIWWIEUIHqK,JILIHD[TaHJGWWIEHULIHP[hIEH4LIH8ITITTIEIaHoi,JIEH4[K,FLhIHbD[TFTK,W9hIHD[TH[EUHTFJIKZIEHUIYHbILEUaHTGH4ILFHITHE[JHhI,FaHULI N[EhIH,IJD[T7HOTHLTFH8JD[K,HhI4GJUIEaHT9YFWLK,IH6[hc›^q»LIWIHUIJHgPWWH8WDKZTnHU[JK,HULITIEH]JLIhThITDEhHUIJH\DGJLHILEp[WILFIEaH[EUHULI 4IL|IEHq»LIWIJHTFLYYIEHcIhILTFIJFHLEHULIH※›YEIHILE7 g]DH\DFIaH]DH\DFIH;HOTHLTFHUIJHIGUaHITHLTFHUIJHIGUnaHTGHcIhLEEFHUIJHC,GJ7HgOTHLTFHUDTH,IcIEaHITHLTFHUDTH,IcIEnaH,IL|FHITHUDEE7HgqLI,IHUIE ,DDJLhIEH\DEEnH_ILEIHY›F,LTK,IH※9[»FWLEhThITFDWFHUIJHP,EIE4IWF`aHgIJH,DFHULIHqGEEIHp[YHqK,ILEIEHhIcJDK,FH]HqILFIHDEHqILFIaHqILFIHDEHqILFI Z9Y»oIEH4LJH;H,DWFIFHULIHqFIWW[EhH;HUIYHqGEEIEWLK,FHIEFhIhIEH;HV,LFL^FI^JD‾n
gOTHLTFHUDTHXD,JHUIJHbJD[IEn P[KZWDEUaHLYH\9JpHdeef qILFHYILEIJHWIFpFIEHqFL»»+LTLFIH+GJHUJIL|LhHXD,JIEH,DFHTLK,HULIHqFDUFHP[KZWDEUHhI4DWFLhHD[ohIcW9,FaHp9,WFH7aYH\LWWLGEIEHOLE4G,EIJaHDWTGH4ILF YI,JHDWTHILEH-LIJFIWHUIJHmITDYFcI+lWZIJ[EhHQI[TIIWDEUT7HQLK,FHDWWITHLTFHDEHULITIJH[JcDELTFLTK,IEHP[T4[K,IJ[EhHhIW[EhIE7HSLIHhWLFpIJEUIE ※GK,,9[TIJHUITH※DEUIWT^H[EUHbLEDEppIEFJ[YTaHULIHTLK,HD[oHUIEHTDEoFIEH※9EhIEHicIJILEDEUIJTFD»IWEaHTLEUH+GJ4LIhIEUHYLFHmWDTH[EU PW[YLEL[YH+IJZWILUIF7HqLIHIEFT»JIK,IEH‽IEIYHILEoDWWTWGTIEHPB[DJL[YTFLWaHUIJHD[K,HUIEHYZJILTHUITH:GFTUDYIJH:WDFpITHLEH8IJWLEHZIEEpILK,EIF7 \DEK,ITHPJK,LFIZF[JI5»IJLYIEFHIJLEEIJFHDEHTZDEULED+LTK,IaHp[YDWHoLEELTK,IH-GJWDhIEaH[EUHD[K,H-IJLJJ[EhIEHUITHUI[FTK,IEH8D[,D[T^qFLWT ,DcIEHL,JIEHQLIUIJTK,WDhHhIo[EUIE7HSDTH9[|IJFHTLK,H+GJHDWWIYHDEHUIYHJLITLhIEHTK,EII4IL|IEH]WGFpHUITHSLpIEhGoo^NIEFJ[YTaHUDTHULIH]L4LTHDWT gqK,[,ZDJFGEnHcIT»lFFIWE7HOTHLTFHZILEIHo[F[JLTFLTK,IH6IFGJFIETFDUFHIEFTFDEUIEaHDcIJHULIH4IELhIEHcITK,ILUIEIEH8D[FIEHD[THUIJHmJiEUIJpILFaHULI ,LIJHELK,FHYI,JHDWTHILEHXD,J,[EUIJFHp[JiKZJILK,FaH4LJZIEHLEYLFFIEHUIJHcIFGELIJFIEHQiK,FIJE,ILFHFJlTFWLK,H[EUHJIK,FHDE,ILYIWEU7 PEHILEIYHqGEEFDhDcIEUHcLEHLK,HLEHP[KZWDEUHDEhIZGYYIE7H\LJHoDWWIEHULIHpD,WJILK,IEH]LJK,IEHD[oaHULIHYI,J,ILFWLK,HUIJHDEhWLZDELTK,IE ]GEoITTLGEHDEhI,lJIEaHGc4G,WHULIH]DF,GWLZIEHIJTFD[EWLK,HpD,WJILK,H+IJFJIFIEHTLEU7HYHULIHbJlYYLhZILFHUIJH4IL|IEHQI[TIIW9EUIJHTGWWHITHJIK,F cITK,ILUIEHcITFIWWFHTILEaH49,JIEUHULIH\DGJLHLEHUIEHXD,JpI,EFIEHL,JITH5cIJWIcIETZDY»oITHILEHT›EZJIFLTFLTK,ITHqIZFLIJIJF[YHIEF4LKZIWFIEaHUDT LYYIJH4LIUIJH+GEHZ9Y»oIJLTK,HD[oFJIFIEUIEH:JG»,IFIEHD[ohITFDK,IWFH4[JUI7 \ILEHbiEoTFIJEI,GFIWH,DFHTLK,HUIJH,›»IJYGUIJEIEaHDcIJHJIK,FHTIIWIEWGTIEH8D[4ILTIHDEhI»D|F7HOTHWLIhFHULJIZFHDYH]DLH[EUHTGWWHUIEHOLEUJ[KZ ILEITH,[5[TUDY»oIJTHIJ4IKZIE7HSDTHY[WFLZ[WF[JIWWIH※GFIW»IJTGEDWHLTFHicIJD[THcIoWLTTIEaHDcIJHULIH\D,WpILFIEaHULIHLEHULITIJHD[oTH\IIJ hIJLK,FIFIEH:JDK,FcDTFLGEHTIJ+LIJFH4IJUIEaHTLEUH+GEHUIJHg,D[FIHK[LTLEInH4ILFHIEFoIJEFaH+GEHUIJHhI4LTTIH6ILTIoi,JIJHTK,49JYIE7HQ[JH4IELhI m9TFIHTLEUHLYH6ITFD[JDEFHp[hIhIE7 \LJHo9WWFHILEH※GK,pILFT»DDJHD[oaHUDTHLEHFJD[FIJHN4ILTDYZILFHTILEIEHC,DY»DhEIJHhIELI|F7HqLIH,DcIEHULIHbITFhITIWWTK,DoFH4G,WHTK,GE DchITK,iFFIWFH[EUHTK,LKZIEHTLK,HDEaHTLK,Hp[YH,LoFHp[HcIhIcIEaHUIJHTLIHp[HL,JIJHq[LFIHcJLEhIEH4LJU7HSLIH8JD[FaHhDEpHLEHVIL|HhIZWILUIFaHYLFHILEIY TK,WLK,FIEH]JDEpHD[oHUIYH]G»oH[EUHTFDJZHUIZGWWIFLIJFaHLTFHILEIH‽[EhIaHcWD[9[hLhIH8WGEULEIHF›»LTK,HcJLFLTK,IJHPcTFDYY[Eh7HR,JHIWIhDEFaHhDEpHLE qK,4DJpHhIZWILUIFIJHO,IYDEEH,LEhIhIEHLTFHILEHU[EZIW,9[FLhIJH:GW›EITLIJ7H6DTTIE+GJ[JFILWIaHTGHTFIWWIHLK,HoITFaHhLcFHITH,LIJHGooIEcDJHELK,F7 REHUIEH]EIL»IEH[EUHmDTFTF9FFIEHUIJHED,IEHYhIc[EhH,IJJTK,FHZILEIHicIJTK,9[YIEUIHqFLYY[Eh7H-GEHTiEU,DoFIJHP[TTK,4ILo[EhHZDEEHLE P[KZWDEUHD[K,HEDK,HUIYH-IJpLK,FHD[oHULIHDEhITFDYYFIH:JiUIJLIHELK,FHULIH6IUIHTILE7HSLIHqK,4[WIE^[EU^,ITcIE^mIYILEUIaHULIHLY TGhIEDEEFIEHg:JLUIHCIEFIJnHicIJHILEIEHI5ZW[TL+IEHIJIoo»[EZFH+IJoihFaH+IJlooIEFWLK,FHILhIEIHNILFTK,JLoFIEH+GEHcIDK,FWLK,IJHP[oWDhIH[EU +IJDETFDWFIFH‽IUITHXD,JHILEHg※GYG^bITFL+DWn7HSLITIH-IJILELh[EhH+GEH※GYGTI5[IWWIEH+IJ,9WFHTLK,H4LIHILEH4G,WGJhDELTLIJFIJaHcDEDWIJH-IJILEH[EU hI,lJFHp[JHWGZDWIEHQGJYDWLF9F7 PYHE9K,TFIEH\GJhIEHTFJD,WFHULIHqGEEIaH[EUHP[KZWDEUHcI4IhFHTLK,HLEHILEIYHB[LJWLhIEH6,›F,Y[TaH4LJZFHcILED,IH,ILFIJH[EUHTFIWWIE4ILTI TK,lEHUDEZHUIJHpD,WJILK,IEHmJiE^H[EUH:DJZDEWDhIE7HRK,HWDTTIHYLK,HLEHUIJH\IEhIHFJILcIEH[EUHcLEHicIJJDTK,FaHLEH4IWK,IYHP[TYD|HUDT IF,ELTK,IHQIcIEILEDEUIJH[EUHULIH-IJTK,YIWp[EhHUIJH6DTTIEH;HVIL|IaHMpIDELIJaHPTLDFIEH;HULIHZGETIJ+DFL+IH-GJTFIWW[EhHILEITHgV,LFIHQI4 NIDWDEUnHcIJILFTH+IJUJ9EhFH,DF7HP[KZWDEUHpILK,EIFHTLK,HDWTHqK,YIWpFLIhIWHD[TaH[EUHUIJHPEFILWHUIJHOLE4G,EIJHELK,FHI[JG»9LTK,IJH※IJZ[EoFH4LJU cIJILFTHD[oHULIH※9WoFIHhITK,9FpF7H※IWIEHCWDJZHcIFGEFIHcILH‽IUIJHmIWIhIE,ILFaHUD|HLEHL,JIYHqFDDFH‽IUIJHSJLFFIH+GEHoDJcLhIEHOWFIJEHDcTFDYYI7 \ILEHREFIJITTIHhLWFH+GJHDWWIYHUIEH\DGJLaHUIJIEH»GWLFLTK,IH6I»J9TIEFDEFIEHW9EhTFHELK,FHYI,JHLEHUIEHW9EUWLK,IEHSGJohIYILETK,DoFIEaHUIEHg:Dna DEp[FJIooIEHTLEUaHTGEUIJEHTLK,HLEHUIEHTF9UFLTK,IEH8iJGTHL,JIJH-IJILEIH[EUH:DJFILIEH[YHULIHOJ4ILFIJ[EhHL,JITHOLEoW[TTITHcIYi,IE7HRYYIJ,LE cLWUIEHTLIHoiEopI,EH:JGpIEFHUIJHmITDYFcI+lWZIJ[EhaH[EUHL,JIHbi,JIJHTLEUHTLK,H+GWWHcI4[|FaHUD|HITHILEIJHpLIWTFJIcLhIEH8LWU[EhTDJcILFHcILHUIJ X[hIEUHcIUDJoaH[YHULIHGooLpLIWWHZGEpIULIJFIH»GWLFLTK,IHmWILK,cIJIK,FLh[EhHp[JHhITIWWTK,DoFWLK,IEH[EUHcIJ[oWLK,IEHOhDWLF9FHYLFHUIEH:DZI,D D[Tp[cD[IE7 P[K,HULIH6IhLIJ[EhTicIJED,YIHU[JK,HULIH]GETIJ+DFL+IH:DJFILHUITHP[oTFILhIJTHXG,EH]I›HUiJoFIHUDJDEHELK,FTH9EUIJE7HOJH4LWWHDWWIEoDWWTHULI ‽9,JWLK,IHOLE4DEUIJ[EhTB[GFIHQI[TIIWDEUTaHULIHTLK,HD[oH*eHeeeHcIpLooIJFaHJIU[pLIJIEH[EUHYLFHUIYH:JGhJDYYHg]L4LTHoLJTFnH‽IEIHpD,WJILK,IE QI[TIIW9EUIJHp[JH※ILYZI,JHIJY[FLhIEaHULIHD[ohJ[EUH,l,IJIJHmI,9WFIJH[EUHcITTIJIJHcIJ[oWLK,IJHC,DEKIEHTK,DJIE4ILTIHLETHcIEDK,cDJFI P[TFJDWLIEHD[ThI4DEUIJFHTLEU7 SLIH\DGJLHL,JIJTILFTHcIhiETFLhIEHULIHQLIUIJWDTT[EhH+GEH»GW›EITLTK,IEHQI[ciJhIJEaHULIaHD[THUIYHhDEpIEH»DpLoLTK,IEH6D[YHZGYYIEUaHULI 6ILTIHLEHUDTH,DEUHUIJHWDEhIEaH4IL|IEHVGWZIEHDEFJIFIE7HPYHU›EDYLTK,TFIEHIJ4ILTIEHTLK,H4LIUIJHILEYDWHULIHC,LEITIEHD[THIDL4DEH[EU p[EI,YIEUHD[THUIJHZGEFLEIEFDWIEH-GWZTJI»[cWLZaHULIaHYLFHcIDK,FWLK,IYH]D»LFDWHD[ThITFDFFIFaHEIcIEHUIJHQI[hJiEU[EhH+GEH8IFJLIcIEHD[K,HUIE OJ4IJcHD[ThIUI,EFIJHRYYGcLWLIEHDETFJIcIE7HSLIHqLF[DFLGEHQI[TIIWDEUTHLTFHhIZIEEpILK,EIFHU[JK,HUDTH4ILFIJ,LEHIEhIH-IJ,9WFELTHp[HP[TFJDWLIEa DcIJHD[K,HU[JK,HFLIohJILoIEUIHUIYGhJD»,LTK,IHYTK,LK,F[EhIEaHULIHLEHP[KZWDEUHcITGEUIJTHLETHP[hIHoDWWIE7HgVLJH4IJUIEHLYYIJHDTLDFLTK,IJ [EUHLYYIJH»DpLoLTK,IJnaHJIhLTFJLIJIEHULIHRYYLhJDFLGETcI,lJUIEH[EUHTFIWWIEHTLK,HD[oHILEIHhJiEUWLK,IHPE»DTT[EhHILE7 P[THUIJHbIJEIHcIFJDK,FIFaHcIoLEUIFHTLK,HQI[TIIWDEUHDWTHmDEpITHLYHN[TFDEUHUIJH5cIJDWFIJ[EhaHp[YLEUITFH4DTHULIH:DZI,DHcIFJLooF7HqGHYDEK,IJ cJLFLTK,IH6IEFEIJH4iJUIHTLK,H4G,WHoi,WIEHLEHULITIJHhJiEIEH,DEUTK,DoFaHULIHYLFHCGFFDhITHicIJT9FHLTF7HSGK,HP[KZWDEUH;HLYHmIhIETDFpHp[J GooLpLIWWIEH※D[»FTFDUFHVIWWLEhFGEH;HLTFHU[JK,HX[hIEUWLK,ZILFHhI»J9hF7HSLIHqFDUFHLTFHp[YHPEpLI,[EhT»[EZFHoiJH‽[EhIaHI,JhILpLhIHPTLDFIE hI4GJUIEaHULIH[E4ILFHL,JIJHILhIEIEH]iTFIEHmIWIhIE,ILFHoLEUIEaHTLK,HYLFHUIJHDEhIWT9K,TLTK,IEH\IEFDWLF9FHTG4LIHYLFHILEIJHD[oHmWGcDWLTLIJ[Eh D[ThIJLK,FIFIEHIIK,EGWGhLIH[EUHmITK,9oFT»JD5LTH+IJFJD[FHp[HYDK,IE7 RYHYZJILTHUIJHhJG|pihLhHDEhIWIhFIEH※GK,TK,[WIEaHL,JIJH,›»IJYGUIJEIEHOLEJLK,F[EhIEHhI4LEEFHYDEHUIEHOLEUJ[KZaHUD|HULIH‽[EhIEa pLIWTFJIcLhIEHOEZIWH\DGHNIUGEhTHTLK,H[ED[o,DWFTDYHD[oHUIYH-GJYDJTK,HcIoLEUIE7HREHULITIYHmIYLTK,H+GEH6DTTIEH[EUH][WF[JIEH,DFHTLK, T»9FITFIETHTILFHUIEHWLcIJDWIEHqGpLDWI5»IJLYIEFIEHUIJHTLIcpLhIJH[EUHDK,FpLhIJHXD,JIHILEIHPJFH][WF[JJI+GW[FLGEH+GWWpGhIE7HP[oHUIYHCDY»[THUIJ UL+IJTIEH,I,JDETFDWFIEHTFIWWIHLK,HoJI[EUWLK,IHIGWIJDEpHoITFaHULIHTLK,HD[K,HD[oHULIHcLTWDEhHYL|FJD[LTK,IHPcZD»TIW[EhHUIJHYILTFIEH\DGJLH»GTLFL+ D[T4LJZF7 PEHUIJHq»LFpIHUITHD[FGK,F,GEIEHP[ocJ[K,TaHUIJHYLFHILEIJH6iKZcITLEE[EhHD[oHULIHILhIEIEHV[JpIWEHILE,IJhI,FaH»JGoLWLIJFHTLK,H:JGoITTGJ \DE[ZDH※IEDJIaHUIYHLK,HLEHUIYH,[oILTIEolJYLhIEH]GWGTTDWhIc9[UIHUIJHP[KZWDEUH8[TLEITTHqK,GGWHcIhIhEI7HVLIHULIHYILTFIEH\DGJL^ REFIWWIZF[IWWIEH[EUH-GJZ9Y»oIJHTIWcTFcI4[|FIJHOYDEpL»DFLGEHZDEEH※IEDJIHD[oHI[JG»9LTK,IH-GJoD,JIEH+IJ4ILTIE7HqILEIYHWGKZIJIEHP[oFJIFIE
[EUHD[K,HTILEIEHmITLK,FTpihIEHYIJZFHYDEHULIHDEhIWT9K,TLTK,IHPcTFDYY[EhHDE7HSLIHIJTFIEHO[JG»9IJaHULIHLEHQI[TIIWDEUHTLIUIWFIEaH4DJIE YILTFHG,EIHbJD[IEHDEhIZGYYIEH[EUHoDEUIEHGooIEcDJHmIoDWWIEHDEHUIEH»GW›EITLTK,IEHIlK,FIJEHUITH,DEUIT7H8ILHUIEHoi,JIEUIEH\DGJLH+GEH,I[FI 4LJUHD[K,HG,EIH‽IUIEH]GY»WI5HD[oHULITIHIF,ELTK,IH\LTK,[EhH+IJ4LITIEaH49,JIEUHLEHP[TFJDWLIEHILEIHTGWK,IH:DDJ[EhH+GEHVIL|IEHYLFHUIE bJD[IEHUIJHUGJFLhIEHPcGJLhLEITH4LIHILEIHPJFHbW[K,HIY»o[EUIEH4LJU7 :JGoITTGJH※IEDJIH,DFHITHTLK,Hp[YHNLIWHhITIFpFaHULIH‽[EhIEH\DGJLHLEHULIHVIWFHUIJH\GUIJEIHp[HLEFIhJLIJIEaHL,EIEHILEIH,G,IH»JGoITTLGEIWWI Z[DWLoLpLIJ[EhHLEHg8[TLEITTHDEUHOKGEGYLKTnHp[H+IJYLFFIWEaHhWILK,pILFLhH‽IUGK,HULIHILhIEIHIJDULFLGEH[EDEFDTFcDJIJHgIDc[TnH,GK,p[,DWFIE7 SDcILHTFiFpFHIJHTLK,HD[oHILEIHDEUIJIHOLhIEDJFaHULIHoiJHDWWIHqF9YYIH[E+IJpLK,FcDJHLTFaHD[oHULIHI[hIEUHUITHg\DEDnaHD[oHULIH6IT»IZFLIJ[EhHUIJ ZJDoF+GWWIEaHB[DTLHTDZJDWIEH:IJTlEWLK,ZILFHILEITH‽IUIEHILEpIWEIE7 RK,H4LWWHELK,FHcI,D[»FIEaHUD|HLK,HYLK,HLEHULIH\IEFDWLF9FHULITITHTIWFTDYIEH-GWZITHDYHDEUIJIEHOEUIHUIJHVIWFH,LEILEhIo[EUIEH,9FFI7HPcIJHULI ,I,JZJ9oFIaHUIEIEHLK,HcIhIhEIH;HGcHTLIH\DGJLHGUIJH]L4LHTLEUH;HhIELI|IEHcILHL,JIJHY[WFLZ[WF[JIWWIEHqF[UIEFIETK,DoFaHYLFHUIJHTLIHIEFT»DEEFH[EU ,ILFIJH+IJZI,JIEaHcIDK,FWLK,ITHPETI,IEH[EUH,G,IHP[FGJLF9F7H8ILHUIEHpD,WJILK,IEHK,LEITLTK,IEHqK,GWDJIEHZGYYFHUIEHSGpIEFIEHp[UIYH‽IEIJHFLIo +IJDEZIJFIH6IT»IZFH+GJHUIYH\DhLTFIJHp[h[FIaHUIJH8ITFDEUFILWHUITHZGEo[pLDELTK,IEHOJcITHLTF7HP[K,HUIYHRTWDYHhIhIEicIJHpILhFHYDEHTLK,H,LIJ D[ohITK,WGTTIEaH4LIHD[THILEIYHbGFGH:JGoITTGJH※IEDJITHLEHcJiUIJWLK,IJHmIYILETK,DoFHYLFHp4ILH]GJDEhIWI,JFIEHD[TH:DZLTFDEH,IJ+GJhI,F7 SIJHSIZDEH+IJ4ILTFHYLK,HD[oHULIHY›F,LTK,IH8IUI[F[EhHUIJHXDUIaH+GEHUIJHWD[FH\DGJL^mWD[cIH,ILWTDYIJHOLEoW[|HD[ThI,F7HRYH-GJcILhI,IE TFJILoFHIJHYLFHUIJH※DEUHILEHcITGEUIJTH»J9K,FLhITHqK,D[TFiKZHULITITHhJiEIEaHIUWIEHmITFILET7HSDTHZ[JpIHmIULK,FaHUDTHIJHYLJHD[oHUIEHVIhHhLcFa IJLEEIJFHILEH4IELhHDEHUIEH6,›F,Y[THUITH※D^※D^IDEpITaHGc4G,WHITHhDEpHD[oH-lWZIJ+IJTl,E[EhHD[ThIJLK,FIFHLTF‼Hg※I^FD[^»DLFI^FD[H;HSDTHXD,J LTFHh[FnaHTGHcIhLEEFHUDTH:GIYaHgUDTHXD,JHLTFHoJLIUWLK,aHILEHXD,JH+GWWIJH-IJ,IL|[Eh^HITHLTFHUDTHXD,JHUIJHbJD[IEaHILEIHNILFHoiJHbJLIUIEH[EU VDK,TF[Y^HT[K,IHUIT,DWcHEDK,HUIJHqDDFaHD[THUIJHUDTHhJl|FIHVG,WIJhI,IEHoiJHDWWIH-lWZIJHIJT»LI|FH;HI^DGJD^DL^FI^L4L7nHbiJHg-lWZIJnH,DFHIJHUDT \DGJL^VGJFHgL4LnHhI49,WFaHYLFHUIYHD[K,HULIHILE,ILYLTK,IEHqF9YYIHcIpILK,EIFH4IJUIE7 gOTHLTFHUDTHXD,JHUIJHbJD[IEnaHTGHWD[FIFHULIH8GFTK,DoFH:JGoITTGJH※IEDJITaHUIJHD[K,HDWTHSLJIZFGJHILEITHRETFLF[FTHoiJHg\DGJLHDEUH:DKLoLK SI+IWG»YIEFnHo[EhLIJF7HSIJHTFDJZIEH:GTLFLGEHUIJH\DGJL^bJD[IEH4IJUIHLK,HhI4D,JaHDWTHLK,HULIHqGpLDWILEJLK,F[EhIEHcIT[K,IaHULIHD[oHZ[WF[JIWWI [EUH»GWLFLTK,IHOEFoDWF[EhaHD[oHp[EI,YIEUIHOLEoW[|ED,YIHL,JIJH6DTTIH,LE4LJZIE7HSLIHPYFTTF[cIH+GEHSDYIHmIGJhLEDH]LJc›HLTFHJIK,F cITK,ILUIE7HOLEH»DDJH‽[EhIH\DGJL^\9UK,IEHDJcILFIEHUIJHTIWcTFcI4[|FIEaHIF4DHTLIcpLh‽9,JLhIEHbJD[Hp[7HR,JH:JGoLWH4LJZFHcILED,IHLEULDELTK,aH[EU ULIH※D[FoDJcIHLTFHpLIYWLK,H,IWW7HPEHUIEHV9EUIEHUIJHMJhDELTDFLGEHTLEUHQDK,cLWU[EhIEHZWDTTLTK,IJH\DGJL^qZ[W»F[JIEHD[ohITFIWWF7 PcIJHULITIHSIZGJDFLGEHJILK,FHcILH4ILFIYHELK,FHDEHULIH»J9K,FLhIEaHhJIWWHcIYDWFIEH※GWpTZ[W»F[JIEHUITHGooLpLIWWIEH\[TI[YTH,IJDEaHUDTHLYHqFLW ILEITHZGWGELDWIEH6IhLIJ[EhT»DWDTFITHYLFHY9K,FLhIYHq9[WIE»GJFDWHD[oHUIYHhJiEIEH※ihIWHUITHqFDUFFILWTH:DJEIWWHIJcD[FH4[JUI7HREHUIJHD[o IG[JLTFIEcIT[K,HDEhIWIhFIEHP[TTFIWW[EhHcIILEUJ[KZFHULIHhI4DWFLhIHSLYIETLGEHILEITH]JLIhTZDE[TaHILEITH‽IEIJHGooIEIEH8GGFIaHD[oHUIEIEHULI IJTFIEH\DGJL^OLE4DEUIJIJH\IIJITTFJIKZIEH+GEHYI,JHDWTHFD[TIEUH]LWGYIFIJEHicIJ4DEUIE7HYHIF,ELTK,IHMJLhLEDWLF9FH+GJp[F9[TK,IEaH4IJUIEHULI O5»GEDFIHUITH\[TI[YTH+GEHZJ9oFLhIEH‽[EhIEH\DGJLHcI4DK,F7HSLITIHg]JLIhIJnHTLEUHE[JHYLFHILEIYH,IEUIETK,[JpHcIZWILUIFaHcI4IhIEHTLK, cDJo[|H[EUH,DWFIEHILEIEHq»IIJHLEHUIJH※DEU7HqLIHTK,ILEIEHTLK,HcI4[|FHp[HTILEaHUD|HYDEHL,EIEH,LIJHULIH6GWWIH+GEHI5GFLTK,IEHqFDFLTFIE p[hI4LITIEH,DF7 mDEpHDEUIJTHhI,FHITHcILHSDYIHmIGJhLEDH]LJc›Hp[aHUIJIEHbDYLWLIH4G,WHTK,GEHp[JHNILFHUIJHcJLFLTK,IEH]GWGELTDFLGEHp[HO,JIEHhIZGYYIEH4DJ7 IJGFpHL,JITHPWFIJTHTFJD,WFHmIGJhLEDHhIcDWWFIHOEIJhLIHD[T7HqLIH+IJ4ILTFHUDJD[oaHUD|HTLIHFILW4ILTIHUI[FTK,IJHPcTFDYY[EhHTILaH4DTHL,JHOEhDhIYIEF oiJHULIH»GWLFLTK,IEH[EUH4LJFTK,DoFWLK,IEHPET»JiK,IHUITH\DGJL^-GWZITHLEHZILEIJHVILTIHcIILEFJ9K,FLhF7HSIJHN[Z[EoFHL,JIJH6DTTIHTLI,FHTLIHYLF M»FLYLTY[THIEFhIhIEH[EUHJi,YFHTLK,aHYLFHUIEHCGY»[FIJEHL,JIJHOLEJLK,F[EhHcITTIJH[YhI,IEHp[HZlEEIEHDWTHULIHYILTFIEH‽[EhIEH:DZI,D7HN[Y PcTK,LIUHhIWILFIFHYLK,HULIH4iJULhIHSDYIHcLTHD[oHULIHqFJD|IH[EUHZi|FHYLK,HD[oHcILUIHVDEhIEaHILEIHT»GEFDEIH-IJFJD[WLK,ZILFaHULIHYLJHD[K,HcIL DEUIJIEH\DGJL^bJD[IEHD[ooDWWIEHTGWWFI7 A,EWLK,H,IJpWLK,HLTFHYILEHmIT»J9K,HYLFH:D[WLEIH]LEhWaHUIJIEHJGFITH※DDJHD[oHLJLTK,IH-GJoD,JIEH,LEUI[FIF7HSLIHTK,4IJhI4LK,FLhIHbJD[aHUIJIE PZFL+LF9FHUIJH]GGJULEDFLGEHUIJHUL+IJTIEH\DGJL^:DJFILoWihIWH[EUHX[hIEU+IJc9EUIHhI4LUYIFHLTFaH,DFHLEH※DJ+DJUH[EUHM5oGJUHTF[ULIJF7H-GJHYILEIY OLEFJIooIEHLEHL,JIYHRETFLF[FH,DFHTLIHTLK,H»IJHREFIJEIFHicIJHYILEIH:IJTGEHZ[EULhHhIYDK,F7HqLIH4DJHTGhDJHicIJHYILEIHZ[JpIHmIoDEhIETK,DoFHcILY -LIFKGEhHLEoGJYLIJF7H-IJY[FWLK,H,DcIEHULIH4ILcWLK,IEHPEhI,lJLhIEHULITITH-GWZITHTK,GEH+GEHPEoDEhHDEHILEIHcIDK,FWLK,IHP[FGJLF9FHD[ThIicF7HRY pILFhIElTTLTK,IEHQI[TIIWDEUaHUDTHTLK,H[EFIJH※IWIEHCWDJZHUIYHYLWLFDEFIEaH‽DHUGYLEDEFIEHbIYLELTY[TH+IJTK,JLIcIEH,DFaHTK,ILEFHULITI OEF4LKZW[EhHD[K,HD[oHULIHJILE4G,EIJHicIJhIhJLooIEHp[H,DcIE7 QGK,H[EW9EhTFH,DFFIHSDYIHIIHPFDLJDEhLZDD,EaHgUIJHbDWZIHUITH\GJhIEWLK,FTnaH4LIHTLIH+GEHL,JIYH-GWZHhIEDEEFH4[JUIaHDWTH\DGJL^]lELhLEHILEI IJ,IcWLK,IHP[FGJLF9FHD[ThIicF7H8LTHp[HL,JIYHIGUHLYHXD,JHdee8HhIWDEhHITHL,JaHULIHIJIJcFIEHqFDYYIToILEUTK,DoFIEHYLFH+LIWH]W[h,ILFHp[ icIJcJiKZIE7HSDTHmIT»J9K,HYLFH:D[WLEIH]LEhWaHUDTHD[K,HULIH,ILZIWTFIEHbJDhIEH[EUHULIHW9EhTFHELK,FHicIJ4[EUIEIHhITIWWTK,DoFWLK,I EFIJGJUE[EhHUIJH\DGJLHELK,FHD[TT»DJFaH+IJW9[oFHIJTFD[EWLK,HGooIE,IJpLh7
gVLJHTLEUHcIFJGhIEH4GJUIEn SIJHbD,JIJHXDYITaHUIEHYLJHULIH※GFIWULJIZFLGEHIY»oG,WIEH,DFaHLTFHILEH9WFIJIJH]L4LHLEH6ILEZ[WF[JaHUDTH,IL|FaHIJH+IJZlJ»IJFHD[oHcITK,ILUIEIJHOcIEI DWWH‽IEIHI[hIEUIEH[EUH+IJW9|WLK,IEHOLhIETK,DoFIEaHULIHUDTHcJLFLTK,IHOY»LJIHILEYDWHhJG|HhIYDK,FH,DcIE7HSLIHN[Z[EoFHQI[TIIWDEUTHTLI,FHXDYIT YLFHmIWDTTIE,ILF7H5cIJHULIHp[EI,YIEUIHPTLDFLTLIJ[EhHP[KZWDEUTHZDEEHIJH»J9pLTIHP[TZ[EoFHhIcIE7HmIJDUIHYDWHoiEopLhH:JGpIEFHUIJH8I+lWZIJ[Eh ULITITH※DoIETHTLEUHI[JG»9LTK,IEHJT»J[EhT7HSLIH\DGJLHTLEUH,LIJHE[JHYLFH[EhIo9,JHpI,EH:JGpIEFH+IJFJIFIE7HSLIHREUIJH4IJUIEHD[oHoiEoH:JGpIEF hITK,9FpFaHULIHC,LEITIEHUiJoFIEHTLK,HUIJHNI,E»JGpIEFhJIEpIHE9,IJEaH49,JIEUHULIHRET[WDEIJHD[THUIJHoIJEIEaHI,IYDWTHUI[FTK,IEHRETIWHqDYGD TIK,TH:JGpIEFHUIJHN[4DEUIJIJHD[TYDK,IE7HSDp[HZGYYFHILEIH-LIWpD,WHDEUIJIJHOF,ELIEHD[THUIYH»DpLoLTK,^TiUGTFDTLDFLTK,IEH6D[YaHULIHTLK, LEThITDYFHD[oHoiEopI,EH:JGpIEFHcIpLooIJE7 qILEIHcILUIEHql,EIH,9FFIEHULIHC,DEKIH4D,JhIEGYYIEaHLEHP[TFJDWLIEHcITTIJIHcIJ[oWLK,IHC,DEKIEHp[HE[FpIEaHYILEFHUIJHbD,JIJaHUIJHUIY ][EFIJc[EFHUIJH6DTTIEHLEHTILEIJHYhIc[EhHYLFHIGWIJDEpHcIhIhEIF7HOJHTK,W9hFH+GJaHYLK,Hp[HILEIJHUIJHqI,IET4iJULhZILFIEHP[KZWDEUTaHp[YHqZ› IG4IJaHp[HcIhWILFIEaH4GHULIH8IT[K,IJHLEHILEIYH,LoFHcLEEIEH+LIJpLhHqIZ[EUIEHD[oHULIHP[TTLK,FT»WDFFoGJYHLEHYdfH\IFIJH※l,IHZDFD»[WFLIJFH4IJUIE7 SLIHqFDUF+IJ4DWF[EhHJi,YFHTLK,aHYLFHUIYHqZ›HIG4IJHULIH,lK,TFIH]GETFJ[ZFLGEHUIJHTiUWLK,IEH※IYLT»,9JIH,GK,hIpGhIEHp[H,DcIE7HRK,HWI,EIHULI
8ITLK,FLh[EhHDcH[EUH+IJ4ILTIHUDJD[oaHUD|HYDEHULITIHcDc›WGELTK,IHq[K,FaHUIEH※LYYIWHp[HIJZWLYYIEaHUIEH»JGFpLhIEHOJUlWTK,ILK,THUIJ mGWoIYLJDFIHicIJWDTTIEHTGWWFIaHULIHhDJHELK,FHp[HD,EIEHTK,ILEIEaHUD|HTLIHYLFHL,JIEHhGFFITW9TFIJWLK,IEH\GETFIJZGETFJ[ZFLGEIEHDYHOEUIHUIEHNGJE PWWD,TH,IJD[ToGJUIJEH4IJUIE7 REHUIEHYLJH+IJcWILcIEUIEHIDhIEHT[K,IHLK,HILEIHPEpD,WH+GEHDJJL+LIJFIEH\DGJLHD[oaHULIHLEHTGLhELIJFIEH8iJGTHULIHqK,4IWWIHp[YHhITK,9oFWLK,IE OJoGWhHGUIJHp[HDUYLELTFJDFL+IJH]GY»IFIEpHcITK,JLFFIEH,DcIEH[EUHUIEIEHcILHDWWIJH8I,DJJ[EhHL,JIJH»GW›EITLTK,IEHRUIEFLF9FHILEIH»IJoIZFI PE»DTT[EhHDEHUIEH4ITFWLK,IEH,IcIETTFLWHhIW[EhIEHLTF7 SDTHIF,ELTK,IHqDYYIWcIKZIEHP[KZWDEUH,DFHD[K,HTILEIHqK,DFFIETILFIE7HRK,HWDTTIHYLK,Hp[HUIYH8IpLJZHMFDJDHoD,JIEaHUIJHDWTHOWIEUT+LIJFIWaHDWT qLIUW[EhH+GEHPTGpLDWIEHhLWF7H\LhJDEFIEH+GEHDWWIEHYlhWLK,IEHRETIWhJ[»»IEHUITH:DpLoLZaHDcIJHD[K,HREUGEITLIJH[EUHbLWL»LEGTHWIcIEHUGJFHDWT PJcILFTWGTIHGUIJHPJcILFTTK,I[IHLEHJIWDFL+HIJFJ9hWLK,IEH-IJ,9WFELTTIEHUDEZHUIJHhJG|pihLhIEHqGpLDWhITIFphIc[EhaHULIHULIH,DcG[JH:DJF› ,LEFIJWDTTIEH,DF7HbDTFHT9YFWLK,IHmITK,9oFIH+GEHMFDJDHTLEUHoITFHLEHK,LEITLTK,IJH※DEU7H8ILHULITIYHP[ToW[hH4IJUIHLK,H+GEH\J7H6D‽L+HcIhWILFIFa UITTIEHbDYLWLIHD[THUIYHLEULTK,IEHq[cZGEFLEIEFHp[hI4DEUIJFHLTF7HPEhITLK,FTHUIJH9JYWLK,IEHEFIJZiEoFIHUIJHEFIJ»JL+LWIhLIJFIEaH+GJHUIJIE OLEhDEhH‽IUGK,HTFIFTHILEHP[FGHhI»DJZFHLTFaHW9|FHUIJHREUIJHTILEIEHDFD+LTFLTK,IEH]DTFIE^RETFLEZFIEHoJILIEH,D[o7 OJH9[|IJFHTLK,HYLFH※IJDcWDTT[EhaH‽DH-IJDK,F[EhHicIJHULIHhITK,ILFIJFIEHP[|IETILFIJHUIJHEI[TIIW9EULTK,IEHVG,WTFDEUThITIWWTK,DoF7HqGhDJHUIE \DGJLHcIhIhEIFH6D‽L+HYLFHPJJGhDEp7HSLIH\DGJLaHULIHTFIFTHL,JIH\[TZIWZJDoFHT»LIWIEHWLI|IEaH4iJUIEHDWWp[HGoFHUIYHPWZG,GWLTY[TH+IJoDWWIE7HqLIHTILIE ZJLYLEIWWH+IJDEWDhFH[EUHTFIFTHp[HqK,W9hIJILIEHcIJILF7H\LFHULITIEHOLEhIcGJIEIEHTILHcITGEUIJTHTK,WIK,FHD[Tp[ZGYYIEaHTILFHTLIH+GEHUIEH4IL|IE ]L4LTHDWTHp4ILFIaHhWILK,cIJIK,FLhFIHQDFLGEHQI[TIIWDEUTHDEIJZDEEFH4[JUIE7HQI[IJULEhTH4iJUIEHTLIHTLK,H;Hp[YDWHhIhIEicIJHLEULTK,IE O5»DFJLDFITH;HTFJILFTiK,FLhH[EUHgcGTT›nHD[ooi,JIE7 PYH6DEUIH+GEHMFDJDHcLEHLK,HDYHOEUIHUGK,HEGK,HD[oHILEIH\DGJL^MJhDELTDFLGEHhITFG|IEaHULIHTLK,HD[oHULIHZJLIhIJLTK,IHIJDULFLGEHUIT TGhIEDEEFIEHg]LEhH\G+IYIEFnHcIJ[oFH[EUHULIHPEhWILK,[EhHDEHI[JG»9LTK,IHqLFFIEHE[JH[EFIJHTFDJZIYH-GJcI,DWFHDZpI»FLIJF7HREHILEIJHPJFH\DJDIa ILEIYH-IJTDYYW[EhTJD[YaHUIJHUIEHqFLWHUIJH»GW›EITLTK,IEH8I,D[T[EhIEHEDK,D,YFaHIEFUIKZIHLK,HILEIHmJ[»»IH‽[EhIJH\9EEIJH[EUHbJD[IEaHULI D[oHUIEHIJTFIEH8WLKZHIF4DTH+IJTK,4lJIJLTK,H[EUHD[oT9TTLhH4LJZIE7 \LJHo9WWFH4LIUIJHILEYDWHUIJHcIDK,FWLK,IH,ILcIT[YoDEhHULITIJH6DTTIHD[oaHUIJHDcIJHELK,FH;H4LIHUDTHcILHUIEHLEHPYIJLZDH[EUHO[JG»D 4ILF+IJcJILFIFIEH-IJoIFF[EhIEHUIJHbDWWHLTFH;HD[oHI5pITTL+IEHmIE[|H+GEHX[EZoGGUHp[JiKZhI,FaHTGEUIJEHILEHZJDoFTFJGFpIEUITH\IJZYDWHL,JIT OJch[FITHLTF7HSLIH‽[EhIEH,I[FIH+IJTF[YYIEHJIT»IZF+GWWaHDWTHILEHY9K,FLhIJH\DEEHYLFFWIJIEHPWFIJTHYLFHDEhIhJD[FIEHqK,W9oIEHUIEH6D[YHcIFJLFF [EUHTLK,HDWTH,GK,+IJI,JFIJH-GJTLFpIEUIJHp[HIJZIEEIEHhLcF7 qGH9,EWLK,H4LIHPJLELHI[ZDJDEhLHYiTTIEHLYHEI[EpI,EFIEHXD,J,[EUIJFH‽IEIH:JLITFIJZlELhIHD[ohIFJIFIEHTILEaHULIHTLK,HTGH,DJFE9KZLhHhIhIEHULI 4ILFHicIJWIhIEIEHqFJILFZJ9oFIHUIJH8JLFIEHcI,D[»FIFIE7HREp4LTK,IEH4IL|HLK,aH4LIHYDEHILEIEHFJDULFLGETcI4[|FIEH\DGJLHcIhJi|F7H\DEHJILcFHELK,Fa 4LIHGoFHcI,D[»FIFH4LJUaHULIHQDTIEHDEILEDEUIJaHTGEUIJEHoi,JFHILEIH4iJUI+GWWIH8IJi,J[EhH+GEHQDTIH[EUHqFLJEHD[T7HI[ZDJDEhLH9[|IJFHTILEI mIE[hF[[EhaHUD|HLK,HYLFHULITIYHNIJIYGELIWWH+IJFJD[FHcLE7 SIJH]GWG|HTFJlYFHcILYHIJTFIEH]GEFDZFHZILEIHicIJFJLIcIEIHbJI[EUWLK,ZILFHD[T7HOJHUJiKZFHTLK,HD[oHIEhWLTK,HYLFHFLIoHhJGWWIEUIJHqFLYYIHD[T7 SDEEH4IEUIFHIJHTLK,HhIcLIFIJLTK,HDEHTILEIHPE,9EhIJ7HqILEHUiTFIJIJHmITLK,FTD[TUJ[KZHUI[FIFHDEaHUD|HIJHp[HoiJK,FIJWLK,IEHV[FD[TcJiK,IEHEILhF7 SIJH\DGJL^※9[»FWLEhH,DFHYLK,HhIY[TFIJFH[EUHGooIEcDJHDWTHIcIEciJFLhIEHmIT»J9K,T»DJFEIJHILEhITF[oF7H8ILYHOJ49,EIEHYILEITH,G,IEHPWFIJT hITIWWFHTLK,HUDp[HUIJHUIEHmJILTIEHhITK,[WUIFIH6IT»IZF7 SLIHEDFLGEDWLTFLTK,HGJLIEFLIJFIH\DGJL^8I4Ih[EhH,DFFIHTLK,HEDK,HUIYHOJTFIEHVIWFZJLIhHLEHUIJH6DFDEL^]LJK,IH»GWLFLTK,HDJFLZ[WLIJF7HREp4LTK,IE TLEUHULIHNLIWIH4ILFIJHhITFIKZFH4GJUIE7HbiJHULITIHJITGW[FIHmJ[»»LIJ[EhHhI,FHITH[YHILEIH»DE»GW›EITLTK,IH8ITFJIc[EhaH[YHUIEHN[TDYYIETK,W[| DWWH‽IEIJHPJK,L»IWIH[EUHRETIWEaHULIH+GEH»DHpLoLTK,IEHqF9YYIEHcITLIUIWFHTLEUH[EUHUIJIEHPEhI,lJLhIHLEHhJG|IJHND,WHEDK,HQI[TIIWDEU D[T4DEUIJEaH4ILWHL,EIEHUIJHIEhIH,IcIETJD[YHL,JIJHPFGWWIHELK,FHYI,JHhIEihF7HqGHLTFHP[KZWDEUHp[JHhJG|IEH»GW›EITLTK,IEHqFDUFHhI4GJUIE7 gqI,IEHqLIHTLK,HULIH‽[EhIEH\9EEIJHDEnaHTDhFHUIJH※9[»FWLEh7HgOLEHS[FpIEUH+GEHL,EIEHZGYYFH+GEHUIEHqDYGD^RETIWEaHULIHoiEo,[EUIJF ]LWGYIFIJHIEFoIJEFHWLIhIE7HOLELhIHDEUIJIHTFDYYIEHD[THIGEhDHGUIJH]LJLcDFLaH4GHoDTFHULIHhWILK,IHq»JDK,IHhIT»JGK,IEH4LJUH4LIHcILH[ET7HETIJ NLIWHLTFHITaHUDTHmI4LK,FH[ETIJIJH6DTTIaHULIHD[oHTGH[EFIJTK,LIUWLK,IHVILTIH+GEHUIEH8JLFIEaHUIEHbJDEpGTIEaHUIEHPYIJLZDEIJEH;HZ[JpoJLTFLhH+GE UIEHSI[FTK,IEH[EUHUIEHXD»DEIJEH;HZGWGELTLIJFH4[JUIaHp[HILEIJHhJG|IEHOLE,ILFHLYHqFLWWIEHMpIDEHp[TDYYIEp[oDTTIE7n RYHicJLhIEaHoihFHIJHYLFHILEIYHhJLYYLhIEH,9K,IWEH,LEp[aHg4IEEH,I[FIHDWWIJGJFTH+GEHDT›YYIFJLTK,IYH]JLIhHULIH6IUIHLTFaHTGH,DcIEHTLK, [ETIJIH-GJoD,JIEHLEHULITIJHbGJYHUITH:DJFLTDEIEZJLIhITHDWTH4D,JIH\ILTFIJHcI49,JFn7HqI,JHJIDWLTFLTK,HZWLEhFHUDTHDWWITHELK,F7HP[oHUIEHTF9EULhIE qFJGYHEI[IJHOLE4DEUIJIJH+GJHDWWIYH+GYHDTLDFLTK,IEH]GEFLEIEFHDEhIT»JGK,IEaH9[|IJFHTLK,HI[ZDJDEhLHp[JiKZ,DWFIEU7HqILEIH8IUIEZIEHJLK,FIE TLK,H+GJHDWWIYHD[oHULIH8IFJLIcTDYZILFH[EUHUDTHS[JK,TIFp[EhT+IJYlhIEHUIJHC,LEITIE7 PEHUIJHVDEUHIEFUIKZIHLK,HLEHIEhWLTK,IJHq»JDK,IHILEIH8ITK,4IJUIHUITH\DGJL^bi,JIJTH]DJLFGZDHD[THUIYHEI[EpI,EFIEHXD,J,[EUIJFaHUIJHTLK, icIJHULIH\L|DK,F[EhHUITHVDLFDEhD^-IJFJDhITH[EUHULIHY[F4LWWLhIH,DEUED,YIHU[JK,HULIHOEhW9EUIJHIEFJiTFIFI7HgVLJH,DcIEHI[K,H,DEUHhIhIcIEna TGH,IL|FHITHUGJFaHg[EUHL,JHhIcFH[ETHILEIH:oILoI7HSDTH4DJHITHD[K,HTK,GE7HVLJHTLEUHcIFJGhIEH4GJUIE7HSLIH:DZI,DHTLEUHSLIcI7HqLIHpIJFILWIEHILEI SIKZIaHYDK,IEHp4ILH※9WoFIEHUDJD[TH[EUH+IJZD[oIEHTLIHoiJHUIEHVIJFHILEIJHhDEpIEHSIKZI7HqLIHZD[oIEHILEHqK,4ILEHoiJHILEH:o[EUHLEHmGWUH[EU +IJZD[oIEHITHoiJHUJIL7HqLIHcIZGYYIEHILEIEH]GJcHqi|ZDJFGooIWEHoiJHTIK,TH:IEKIH[EUH+IJZD[oIEHL,EHoiJHp4ILHqK,LWWLEhI7HqGHhI,IEHTLIHYLFH[ET [Y7HqLIHcITFI,WIEH[ETaH[EUHUDcILHcWILcFHIT7n qGWK,IHDEZWDhIEUIEHIlEIHTLEUHTIWFIEHhI4GJUIEaH[EUHULIHoiEoH\DGJL^PchIGJUEIFIEHLYH:DJWDYIEFH+GEHVIWWLEhFGEH4iJUIEHTLK,H,I[FIHhDEp DEUIJTHD[TUJiKZIE7HSIJHC,LIoHEILhFHELK,FHp[JH6IUTIWLhZILFaH[EUHLK,H4IL|aHUD|HYILEIYH-IJT[K,aHULIH\DGJL^\IEFDWLF9FHp[HIJhJiEUIEaHIEhI mJIEpIEHhITIFpFHTLEU7HSIJHPcTK,LIUHhITFDWFIFHTLK,H,IJpWLK,7HSLIHDE4ITIEUIEH\IETK,IEHZiTTIEHYLK,HD[oHULIHVDEhIEaH[EUHYLFHUIEH\9EEIJEaHYLF I[ZDJDEhLHp[YDWaHEI,YIHLK,HoILIJWLK,HUDTHqFLJE^[EU^QDTIE^NIJIYGELIWWaH※GEhLHhIEDEEFaH+GJ7HPYHOEUIHJILK,IEH4LJH[ETHULIH※9EUIaHcLWUIEHILEIE ]JILTaH[EUHUIJH-GJTLFpIEUIHTFLYYFHILEIEH\DGJL^mITDEhHDEaH+GEHUIYHLK,HZILEHVGJFH+IJTFI,I7HOJHIEUIFHYLFHILEIYHUJl,EIEUIEHcLcWLTK,IE gPYIEn7
RETIWTK,DK,IJHLYH:DpLoLZ
SIJHbW[hH+GEHP[KZWDEUHEDK,H\IWcG[JEIHUD[IJFHIF4DH+LIJHqF[EUIE7HILIoH[EFIJH[ETHUI,EFHTLK,HULIHIDTYDE^qIIHLEHTK,4DJpIJHbILEUTIWLhZILF7HRK,
oi,WIHYLK,H4G,WHcILHULITIEHW9EhIJIEH,[oFTFJIKZIEaHULIH\[|IHoiJHOEFT»DEE[EhH[EUHQDK,UIEZWLK,ZILFHcLIFIE7HRK,HcLWUIHYLJHELK,FHILEaHYILE P[ToW[hHEDK,HQI[TIIWDEUH,DcIHULIHbJDhIHIJ,IWWFaHGcH[EUH4LIHcDWUHTLK,HUDTHqK,4IJhI4LK,FHUITH»GWLFLTK,IEH[EUHTFJDFIhLTK,IEHVIWFhITK,I,IET +GYHPFWDEFLZHp[YH:DpLoLZH+IJWDhIJEH4LJU7 ][JpH+GJHYILEIYHP[ocJ[K,H,DFFIHLK,HLEHIIHPFDF[aHILEIYH9JYWLK,IEH-GJGJFH+GEHP[KZWDEUaHILEIHZWILEIH»JGFITFDEFLTK,IH]LJK,IHIEFUIKZFaHLEHUIJ TLK,HILEIHmIYILEUIH+GEHIF4DH,[EUIJFHOLE4G,EIJEHUIJH:DpLoLZLETIWHI[+DW[Hp[YHmGFFITULIETFH+IJTDYYIWFI7HqLIH4DJIEH[EFIJHTLK,aH[EUHULI :JIULhFH4[JUIHLEHL,JIJHq»JDK,IHhI,DWFIE7 VDJ[YH4DJIEHTLIHEDK,HQI[TIIWDEUHD[ThI4DEUIJFHD[THL,JIJH※ILYDFaHUIJIEHEI[EHPFGWWIHYLFH77HeeeHOLE4G,EIJEHE[JHicIJHILEIH,DEUoW9K,IH+GE d8HZ[DUJDFZLWGYIFIJH+IJoihIE_HqILFH7>=fHhIELI|FHULITIJH\LEL^PJK,L»IWHUIEHqFDF[THILEITH[EDc,9EhLhIEHqFDDFITH[EUHLTFHDWTH+GWW4IJFLhITH\LFhWLIU UIJH-IJILEFIEHQDFLGEIEHDEIJZDEEF7HPcIJH4DTHEiFpFHULITIJH:JITFLhIhI4LEE_HSIJH4LEpLhIHPJK,L»IWH+IJoihFHicIJHhIJLEhIHOJ4IJcTYlhWLK,ZILFIEa p[YDWHILEIH»WDEWGTIH8D[F9FLhZILFHLEHUIJH※D[»FTFDUFHbGEhDoDWIHULIHlZGWGhLTK,IHmI4LK,F[EhHTGH+IJ9EUIJFH,DFaHUD|HULIHWDEU4LJFTK,DoFWLK,HE[FpcDJI bW9K,IHp[EI,YIEUIJH-IJTDWp[EhHD[ThITIFpFHLTF7 I[+DW[HWLIhFH4IELhIJHDWTHILEIEH\IFIJHicIJHUIYHQL+ID[HUITHMpIDETaH[EUH‽IUIJHqF[JYH,DFH+IJ,IIJIEUIH5cIJTK,4IYY[EhIEHp[JHbGWhI7HSDp[ ZGYYFHUIJH+LIWpLFLIJFIH]WLYD4DEUIWaHUIJHD[K,H,LIJHNIEFLYIFIJH[YHNIEFLYIFIJHp[YHPETFILhIEHUIJHcIUJG,WLK,IEHbW[FIEHoi,JF7H8LEEIEH4IELhIJ SIZDUIEHUiJoFIHUIJHVDTTIJT»LIhIWHILEIEH,DWcIEH\IFIJH,l,IJHTILEHDWTH,I[FIH[EUH‽IUIHO5LTFIEpYlhWLK,ZILFHIJFJ9EZIE7HqGHYDEK,ITHDEUIJI qiUTII»DJDULITaH+GEHUIYHULIHqIIoD,JIJHUITHDK,FpI,EFIEH[EUHEI[EpI,EFIEHXD,J,[EUIJFTHTK,49JYFIEaH4LJUHUDEEH+GEHUIJH,DEUZDJFI +IJTK,4[EUIEHTILE7 V9,JIEUHULIHRETIWEHp[H+IJTLEZIEHUJG,IEaH+GWWpLI,IEHTLK,HLEHUIEHY9K,FLhIEH]GEFLEIEFDWTFDDFIEaHULIHUIEH:DpLoLZHT9[YIEH[EUHUIJIEH,l,IJ hIWIhIEIH]iTFIEH+GEHILEIJH+IJhWILK,cDJIEH]DFDTFJG»,IH+IJTK,GEFHcWILcIEaH]J9oFI+IJWDhIJ[EhIEaHULIHEGK,H+GJHILEIJHmIEIJDFLGEHDWT :,DEFDTFIJILIEHDchIWI,EFH4GJUIEH49JIE7HqGHhI4LEEFHULIH-GWZTJI»[cWLZHC,LEDHUIYHMpIDEHTGhDJHU[JK,HZiETFWLK,IHOJUD[oTK,iFF[EhH6D[YHoiJ p[T9FpWLK,ITH8D[WDEUHDc7HOTH4LJUHTLK,H,IJD[TTFIWWIEaH4LIHEDK,,DWFLhHULIH\IEFDWLF9FaHUDTH»GWLFLTK,IH-IJ,DWFIEHUITHEI[IEHq^:J9TLUIEFIEH8DJDKZ McDYDaHUIJaHLYHq^qFDDFH※D4DLLHhIcGJIEH[EUHD[ohI4DK,TIEaHLEHREUGEITLIEHTILEIHqK,[WpILFH+IJcJDK,FH,DFaH+GEHULITIJHhIGhJD»,LTK,IE YGJLIEFLIJ[EhHhI»J9hFH[EUHcIILEoW[|FH4LJU7 OLEIHoJDEplTLTK,IHqF[ULIHicIJHYTK,LK,F[EhIEHLYH:DpLoLTK,IEH6D[YHcITF9FLhFaHUD|HULIHlZGEGYLTK,IEH[EUHlZGWGhLTK,IEHN49EhIHcIJILFT UJILFD[TIEUHUIJHIWoFD[TIEUH:GW›EITLIJH+GEHI[+DW[Hp[JHOYLhJDFLGEHEDK,HQI[TIIWDEUH+IJDEWD|FH,DcIE7HQGK,HUJDYDFLTK,IJHLTFHULIHPc4DEUIJ[Eh D[THVITFTDYGDaHUDTH[EhIo9,JHD[oHUIYHhWILK,IEH8JILFIEhJDUHWLIhF7HP[oHULITIJH-[WZDELETIWHcITFI,FHp4DJHELK,FHULIHmIoD,JaHDWWY9,WLK,HLETH\IIJ Dcp[hWILFIEaHDcIJHUIEH78eHeeeHqDYGDEIJEHoI,WFHITHIcIEoDWWTHDEH,IcIETJD[YH[EUHN[Z[EoFTK,DEKIE7 ? qIWFTDYIHQDK,4LJZ[EhIEHUITHLY»IJLDWIEHVD,ETaHUIYHULIH4IL|IH\IETK,,ILFHEGK,HcLTHp[YHP[TcJ[K,HUITHOJTFIEHVIWFZJLIhITH,[WULhFIaHWDTTIE TLK,HLEHULITIYH6D[YHDcWITIE7HSIJHqK,DK,IJH[YHULIHUL+IJTIEHPJK,L»IWIHUITHqFLWWIEHMpIDETH,DFHcLpDJJIHq»[JIEH,LEFIJWDTTIE7HQDK,UIYHULIHqPH; UIYHO5»DETLGETUJDEhHL,JITH:J9TLUIEFIEHI,IGUGJIH6GGTI+IWFHoGWhIEUH;HLEHILEIYH8WLFpoIWUp[hHUIJHT»DELTK,IEH※IJJTK,DoFHicIJH][cDH[EUH:[IJFG 6LKGHILEHOEUIHhITIFpFH[EUH‽IETILFTHUITH:DpLoLZHUDTHgqFDJHT»DEhWIUHcDEEIJnHicIJHUIEH:,LWL»»LEIEHhI,L|FH,DFFIEaHcWLIcIEHEGK,HILEH»DDJH4LEpLhI IIJJLFGJLIEHp[YHP[T+IJZD[oHicJLh7HSLIHPFGWWIH\LZJGEITLIETHoLIWIEHDEHUDTH4LW,IWYLELTK,IH6ILK,aHUDTHTILEIEH8ITLFpHD[oHQI[h[LEIDHYlhWLK,TFH4ILF EDK,HQGJUIEHDcp[J[EUIEHT[K,FI7 N[H‽IEIYHNILF»[EZFH4[JUIEHTLK,H,GEUGEaHVDT,LEhFGEH[EUH8IJWLEHD[K,HicIJHULIHP[oFILW[EhHqDYGDTHILELh7HSLIHhJl|IJIHVITFLETIWH4[JUIH7f>> +GEHUIEHSI[FTK,IEHDEEIZFLIJFaH49,JIEUHULIHMTFLETIWH[EFIJHULIHqG[+IJ9ELF9FHUIJHqPHhIJLIF7HSLIH8JLFIEH4[JUIEHYLFHUIYH:JGFIZFGJDFHicIJHUDT ]lELhJILK,HIGEhDHp[oJLIUIEhITFIWWFaHD[oHUDTH8IJWLEHILEHcIhI,JWLK,ITHP[hIHhI4GJoIEH,DFFI7HSIEHVIWFYDK,FTFJ9[YIEHVLW,IWYTHRR7H[EUHTILEIE YDJLFLYIEHPYcLFLGEIEHIEFT»JIK,IEUaH49JIHVITFTDYGDH+IJY[FWLK,HULIH6GWWIHILEIJH]G,WIEc[EZIJTFDFLGEHoiJHULIH]DLTIJWLK,IHbWGFFIHp[hIoDWWIE7 qK,GEH,DFFIHUDTH※G,IEpGWWIJEJILK,HD[oHUIYHDTLDFLTK,IEH]GEFLEIEFHb[|HhIoD|FH[EUHicIJHUIYH※DoIEH+GEHITLEhFD[H;H,I[FIHTK,JILcFHYDEHZLEh SDGH;HULIHTK,4DJp4IL|^JGFIHbWDhhIHhI,L|F7HSLIH※DWcLETIWHq,DEUGEhHTGWWFIHUDYDWTHDWTHq»J[EhcJIFFHULIEIEHoiJH4ILFIJIHO5»DETLGEIEH[EUHILEI UI[FTK,IH8IFILWLh[EhHDEHUIJHhI»WDEFIEHP[oFILW[EhHUITH6ILK,ITHUIJH\LFFI7 SIJHP[TcJ[K,HUITHOJTFIEHVIWFZJLIhITH,DFHDWWIEHhIJYDELTK,IEHPET»JiK,IEHD[oHIIJJLFGJLIEHDYHDEUIJIEHOEUIHUIJHVIWFHILEH‽9,ITHOEUIHcIJILFIF7 P[TFJDWLTK,IH,DEU[EhTFJ[»»IEHcITIFpFIEHLYH※DEUTFJILK,H]DLTIJ^VLW,IWY^,DEUHD[oHQI[h[LEIDHTG4LIHQI[^:GYYIJEH[EUHQI[^\IKZWIEc[Jh7HSLI XD»DEIJHIJTFiJYFIEHULIHZWILEIHbITF[EhHITLEhFD[H[EUHIJJDEhIEHZDY»oWGTHULIHMcIJ,G,ILFHicIJH\LZJGEITLIE7HSIYHCGYYGE4IDWF,^\LFhWLIU QI[TIIWDEUaHUDTHUIYHcJLFLTK,IEHOY»LJIHLEHIJI[IH+IJc[EUIEH4DJaHoLIWHULIHP[ohDcIHp[aHUDTHUI[FTK,IHqK,[FphIcLIFHVITFTDYGDHp[HGZZ[»LIJIE7 QDK,HEFIJpILK,E[EhHUITH-IJTDLWWIJH-IJFJDhITH4[JUIEHULIHI,IYDWLhIEHUI[FTK,IEH]GWGELIEHDWTH\DEUDFIHUITH-lWZIJc[EUITHDEHULIHUL+IJTIE qLIhIJY9K,FIH+IJFILWF7HSIJHP[|IE»GTFIEHqDYGDH4[JUIHUIJHP[FGJLF9FHVIWWLEhFGETH[EFIJTFIWWFaH[EUHULITITH\DEUDFHUIJHg,IDh[IHGoHQDFLGETnHhLEh EDK,HUIYHN4ILFIEHVIWFZJLIhHLEHILEHIJ[TFIIT,L»HUIJH-IJILEFIEHQDFLGEIEHicIJ7 OLEIHDcT[JUIH,D[EIHUITHqK,LKZTDWTH,DFFIHcI4LJZFaHUD|HSI[FTK,WDEUH[EUHQI[TIIWDEUHTLK,HLYHqGYYIJH7>79HILEH»DDJHqF[EUIEHWDEhHDWTHmIhEIJ hIhIEicIJTFDEUIEH[EUHLYHNIEFJ[YHUITH:DpLoLTK,IEHMpIDETHUIEH]GEoWLZFH[YHILEIHRETIWHD[TFJ[hIEaH+GEHUIJIEHO5LTFIEpaHhITK,4ILhIHUIEEH+GE UIJIEHZ[JpIJHUI[FTK,IJH※LTFGJLIHULIHYILTFIEH8iJhIJH[ETIJIJH,I[FLhIEH8[EUITJI»[cWLZHELK,FHULIHhIJLEhTFIHP,E[EhH,DcIE7
SLIH:DWYIE,DLEIHUITHSI[FTK,IEH6ILK,IT P»LDH_qDYGD`aHLYHqGYYIJH7>88 RK,HIJLEEIJIHYLK,HhIED[HDEH[ETIJIHO5Z[JTLGEHp[H‽IEIYHDchIWIhIEIEHIIJJLFGJL[YaHUDTHUIEHqK,JLoFTFIWWIJH6GcIJFHqFI+IETGEHp[HTILEIYH6GYDE SLIHqK,DFpLETIWHLET»LJLIJFI7HqILFHULITIJHoIJEIEHNILFHUiJoFIHTLK,HYDEK,ITH+IJ9EUIJFH,DcIEHLEHP»LDaHUIJHTK,W9oJLhIEH※D[»FTFDUFH+GEHVITFTDYGDaH4G ILETFHUIJHUI[FTK,IHmG[+IJEI[JHVLW,IWYHqGWoHD[oH+IJULIETF+GWWIHVILTIHcIYi,FH4DJaHULIH»GW›EITLTK,IH8I+lWZIJ[EhH+GJH,DTFLhIJH5cIJoJIYU[Eh p[HcI4D,JIE7HOJH,9FFIHTLK,H4G,WHZD[YH+GJTFIWWIEHZlEEIEaHUD|HD[THTILEIJHZGWGELDWIEH\LELUGY9EIHILEH,DWcITHXD,J,[EUIJFHEDK,HUIJIE 5cIJED,YIHU[JK,HULIHQI[TIIW9EUIJHILEH[EDc,9EhLhIJHqFDDFHqDYGDHIEFTFI,IEH4iJUIaHUIJH7>=eHDWTH+GWW4IJFLhITH\LFhWLIUHP[oED,YIHLEHULI
-IJILEFIEHQDFLGEIEHoDEU7HSLIH8I,lJUIEH+GEHVIWWLEhFGEH,DFFIEHTLK,HcILHDWWIJH»GWLFLTK,IEH,LcIJDWLF9FHELK,FHLYHhIJLEhTFIEH[YHULIHYDFIJLIWWI bGJFIEF4LKZW[EhHVITFTDYGDTHhIZiYYIJFH[EUHTLK,HUIT,DWcHUIEHEY[FHUIJHOLEhIcGJIEIEHp[hIpGhIE7 PWTH][JLGT[YHTILHoITFhI,DWFIEaHUD|HTK,GEHLYHXD,JH7>YdaHDWTHUIYHcJLFLTK,IEH\DEUDFThIcLIFHRJDZH;HUDTHcLTHp[YH-IJFJDhH+GEHq[+JITHUIY MTYDELTK,IEH6ILK,HILE+IJWILcFH4DJH;HD[oHSJ9EhIEH,GEUGETHILEIH4ILFJILK,IEUIHP[FGEGYLIHTG4LIHULIHP[oED,YIHLEHUIEH-lWZIJc[EUHhI49,JF 4[JUIaHD[K,HULIH»GWLFLTK,IEH6I»J9TIEFDEFIEHUIJHI,IYDWTHUI[FTK,IEH]GWGELIHqDYGDHLEHmIEoH+GJTFIWWLhH4[JUIEaH[YHILEIH9,EWLK,IH,GTWlT[EhHD[T UIJH8I+GJY[EU[EhHU[JK,HQI[TIIWDEUHp[HIJJILK,IE7HVIWWLEhFGEaHTGHcITK,4IJFIEHTLK,HULIH※9[»FWLEhIH+GEHqDYGDaH,DcIHTILEIHDUYLELTFJDFL+IE :oWLK,FIEHhJGcH+IJEDK,W9TTLhFaH‽DHELK,FHILEYDWHoiJHUIEH8D[HILEITHmIo9EhELTTITHhITGJhFaHTGHUD|HULIH]JLYLEIWWIEH;H,LEFIJHILEIYHWGKZIJIE 8JIFFIJpD[EHILEhIT»IJJFH;HTK,GEHZ[JpHEDK,HL,JIJH-IJ[JFILW[EhHUDTHVILFIHT[K,FIE7 SLIH:IFLFLGEHqDYGDTHoDEUHcILHUIJHp[TF9EULhIEH]GYYLTTLGEHUIJHg,IDh[IHGoHQDFLGETnHELK,FHUIEHhIJLEhTFIEHVLUIJ,DWW7HSLIH»GWLFLTK,I OLhIETFDDFWLK,ZILFHZDYHL,JIJH-IJ4LJZWLK,[EhHIJTFHED,IaHDWTHULIHQDK,oGWhIGJhDELTDFLGEHELFIUHQDFLGETHULIHT›TFIYDFLTK,IHOYDEpL»DFLGEHUIJ I,IYDWLhIEH\DEUDFThIcLIFIHLEHPoJLZDH[EUHMpIDELIEHD[oHL,JIHIDhITGJUE[EhHTIFpFI7 PWTHgRETIWHD[THIJ9[YIEHhIcGJIEnHLTFHYLJHqDYGDHELK,FHLEHOJLEEIJ[EhHhIcWLIcIE7HP[ohJ[EUHL,JITH+[WZDELTK,IEHJT»J[EhTHTLEUHULIHqFJ9EUI TK,49JpWLK,HhIo9JcF7HREHP»LDHoLIWIEHYLJHp4ILH]LJK,FiJYIHD[oaHULIHEGK,HD[oHUI[FTK,IHPJK,LFIZFIEH+IJ4LITIE7HETIJIHq»[JIE^T[K,IHEDK, 4LW,IWYLELTK,IEH5cIJJITFIEH,DFH[ETHELK,FHTI,JH4ILFHhIoi,JF7H\LFHILEH»DDJHmITK,9oFTWI[FIEaHULIHTLK,HD[oHUI[FTK,IH-GJoD,JIEHcIJLIoIEaH4DJIEH4LJ [E+IJcLEUWLK,HLETHmIT»J9K,HhIZGYYIE7 RK,HWLI|HUDTH]DYIJDFIDYHYLFHUIEH4IELhHYLFFILWTDYIEH,DEUTWI[FIEHp[JiKZaH[YHYLK,HLYHmDJFIEH[ETIJIJHcITK,ILUIEIEHEFIJZ[EoFHp[HTGEEIEa DWTHYILEIHqLITFDHUJDYDFLTK,H[EFIJcJGK,IEH4[JUI7H\ILEIHmIo9,JFIEHTFDEUIEHYLFHcW[F+IJTK,YLIJFIEHmITLK,FIJEH[EUHUIYHP[TUJ[KZH,IWWIJ OY»lJ[EhH+GJHYLJ7HPWTHTLIHULIHQDK,ZGYYIEHUI[FTK,IJH]GWGELTFIEHEDK,H,loWLK,IJHPEoJDhIHoLWYIEH4GWWFIEaH4DJIEHTLIH+GEHULITIEHp4LIWLK,FLhIE mITFDWFIEHG,EIHVDJE[EhHicIJoDWWIEH[EUHYLFHbD[TFTK,W9hIEHFJDZFLIJFH4GJUIE7HRYYIJ,LEH4DJHULIH]DYIJDHELK,FHcITK,9ULhFH4GJUIE7HYHULI IJJIhFIHqFLYY[EhHp[HcIT9EoFLhIEaHIJWD[cFIHLK,HYLJHILEIEHcWlUIEHqK,IJp‼HgR,JH,DcFH‽DHEGK,HmWiKZHhI,DcFaHUD|HL,JHELK,FHLYH]GK,FG»oHhIWDEUIF TILUnaHTDhFIHLK,H[EUHWlTFIHZILEIJWILH※ILFIJZILFHD[T7 VLJHYDK,FIEH[ETH[E+IJpihWLK,HD[oHUIEHVIhHp[YH:GWLpILK,IoH+GEHP»LDaHUIJHJILEH»GW›EITLTK,HD[TTD,aHDcIJHILEIEHUI[FTK,IEHQDYIEHFJ[h7HOJ JIhLTFJLIJFIH[ETIJIH8ITK,4IJUIHYLFHFJ9hIJH6ITLhEDFLGE7H\DEK,IHTILEIJH]GY»DFJLGFIEHTILIEHI5FJIYHTFJILFTiK,FLhaHcITK,4LK,FLhFIHIJ7HbDTFHDE ‽IUIYHVGK,IEIEUIHZ9YIHITHp[HcJ[FDWIEH6D[oIJILIEH[EUHTGhDJHp[H\ITTIJTFIK,IJILIE7 RK,HY[|FIHDEHUIEH6ILTIcIJLK,FHILEITHTIWFTDYIEaH+GEH»DFJLGFLTK,IYH5cIJTK,4DEhHLET»LJLIJFIEH-GJh9EhIJTHUIEZIEaHILEIEHhI4LTTIEHMFFG O,WIJTHD[TH:GYYIJEaHUIJH7f>9HDWTHIWLF9JIJHPcIEFI[JIJHqDYGDHDWTHg:IJWIHUIJHqiUTIInH[EUHDWTHILEIHoiJHUDTHSI[FTK,IH6ILK,H,GK,JIEFDcWI ]GWGELIHcITK,JLIcIEH,DFFI7HSIEHOLEhIcGJIEIEHcIhIhEIFIHIJHYLFHq›Y»DF,LIaHTK,9FpFIHTLIHDWTHicIJD[THZJLIhIJLTK,H+IJDEWDhFIH\IETK,IEH[EU cIUD[IJFIHULIHN9,Y[EhHL,JIJHDEhITFDYYFIEHVLWU,ILF7HVG,WHELK,FHD[oHqDYGDaHDcIJHD[oHYDEK,IYHDEUIJIEH»DpLoLTK,IEHPJK,L»IWaH4LIHUIE qDWGYGEIEaHhDcHITHUDYDWTHD[K,H,9[oLhHb9WWIH+GEH]DEELcDWLTY[T7HO,WIJTHIJ49,EFIHLEHTILEIYH6ILTIcIJLK,FaHUD|HUDTHbWILTK,H+GEHO[JG»9IJEHcIL UIEHOLEhIcGJIEIEHU[JK,D[THELK,FHDWTH,IKZIJcLTTIEHhDWFaHTGEUIJEHILEIEH[EDEhIEI,YIEH8ILhITK,YDKZH,DcI7HSLIH]GWGELDWcIJLK,FIH,DcIE icIJWLIoIJFaHUD|HULITIJHoGJTK,IHOJZ[EUIJHoJIYUIJHqLFFIEH4IELhHT»9FIJHD[oHQI[h[LEIDHTIWcTFHUIYHP»»IFLFHUIJHTFGWpIEHg※Lh,WDEUIJTnHp[YHM»oIJ oLIW7 \DEH,iFIHTLK,H‽IUGK,H+GJH-GJ[JFILWIEH[EUHcW[FJiETFLhIEHPEIZUGFIE7HqGHcIJILFIFIH[ETHUIJH6IhLIJ[EhTK,IoH+GEHqDYGDaHILEHcIWILcFIJaH4iJULhIJ :GW›EITLIJaHILEIEHU[JK,D[THoJI[EUWLK,IEHOY»oDEh7HOJHFJ[hHicIJHUIJHWDEUITicWLK,IEHIJDK,FaHILEIYHZLWF9,EWLK,IEH6GKZaHUIJH,LIJHg,D»D^,D»Dn ,IL|FH[EUHcLTHicIJHULIH]ELIHJILK,FaHILEHYD|hITK,EILUIJFITHIEhWLTK,ITHXDKZIFF7HSLIH6ITLUIEpH+GEH:JIYLIJYLELTFIJH\DFD6DoDH\[WLE[6[HRR7H4DJHLEHILE \IIJH,IJJWLK,IJH8WiFIEHILEhIcIFFIFH[EUHLYHicIJWLIoIJFIEH»GW›EITLTK,IEHqFLWHIJJLK,FIFH4GJUIE7HSDTHZ[»»IWolJYLhIHSDK,HJ[,FIHD[oH※GWpT9[WIEa UIJIEHN4LTK,IEJD[YHIJoJLTK,IEUIEHS[JK,p[hHIJWD[cFIH[EUHcILHTFDJZIYH6IhIEoDWWHDchITK,GFFIFH4[JUI7 \DFD6DoDH\[WLE[6[HRR7H,DFFIHZILEIEH»IJTlEWLK,IEH8Ip[hHYI,JHp[JHoiEopI,E‽9,JLhIEHUI[FTK,IEH]GWGELDW»J9TIEpaHDcIJHIJHWGcFIHULI [EhI4l,EWLK,IHS›EDYLZHUIJHp[TF9EULhIEH,DETIDFLTK,IEH※DEUIWThITIWWTK,DoFaHULIHcLEEIEHZ[JpIJHbJLTFHJLITLhIH:WDEFDhIEH+GEH]GZGT»DWYIE DEWIhFIH[EUHUIJIEHqF9YYIH4LIH»JI[|LTK,IHmJIEDULIJIHD[TJLK,FIFI7HQDK,HL,JIJH\DEUDFTicIJED,YIHLYHXD,JH7>deH,9FFIEHULIHQI[TIIW9EUIJ ZILEIJWILHp[T9FpWLK,IHPE»oWDEp[EhIEH+GJhIEGYYIE7H8LTHD[oHUIEH,I[FLhIEHIDhHTFIWWFHULIH]G»JD^:JGU[ZFLGEHUIEHILEpLhHEIEEIET4IJFIE mI4LEE»GTFIEHqDYGDTHUDJH[EUHcITFJILFIFHUDTHqFDDFTc[UhIFHp[HTIK,pLhH:JGpIEF7 IJGFpHUIJHYDEhIWEUIEHbiJTGJhIHUIJH\DEUDFTcI,lJUIEHTILHEDK,HUIJHEDc,9EhLhZILFHULIH8LEU[EhHDEHVIWWLEhFGEHhIcWLIcIE7HVITFTDYGDHWILUI DEH5cIJ+lWZIJ[EhaH[EUHITHoLEUIHILEIHYDTTL+IHPc4DEUIJ[EhHEDK,HQI[TIIWDEUHTFDFF7HSLITIH\LhJDFLGEHcIJD[cIHULIHRETIWHL,JIJHDZFL+TFIEH[EU FiK,FLhTFIEH]J9oFI7HSIJH:JIYLIJYLELTFIJHZGEEFIHUDYDWTHELK,FHD,EIEaHUD|HP[KZWDEUHLYHXD,JHdeefHULIH,ILYWLK,IH※D[»FTFDUFHqDYGDTH4iJUIaHUD| ULIH\I,JpD,WHTILEIJH,DEUTWI[FIHLYH,DEUHUIJH\DGJLHWIcIEH4iJUIaHUIEIEHTLIHIF,ELTK,H[EUHWLEh[LTFLTK,H+IJ4DEUFHTLEU7 SLIH-IJ4DWF[EhHUIJHhJl|FIEH:WDEFDhIEhITIWWTK,DoFH4[JUIHp[JHNILFHYILEITHP[oIEF,DWFTH+GEHILEIJHqDYGDEIJLEHYLFFWIJIEHPWFIJT 4D,JhIEGYYIEaHILEIJH8[TLEITTHVGYDEaHULIH+GEHILEIYHUIJHYd>HUI[FTK,IEH]GWGELTFIEHUITH4LW,IWYLELTK,IEH6ILK,THDcTFDYYFIH[EUHUIE bDYLWLIEEDYIEHqK,Doo,D[TIEHFJ[h7HSLITIHIEIJhLTK,IH\DFJGEIH,DFFIH[ETHD[oHUI[FTK,HYLFHgm[FIEHIDhnHcIhJi|FH[EUHFJD[IJFIHGooIEcDJHUIJHZ[JpIE UI[FTK,IEH:J9TIEpHEDK,7 N[JH8ITLK,FLh[EhHL,JIJHD[ThIUI,EFIEH:oWDEp[EhIEHTFIWWFIHTLIHYLJHILEH:oIJUHp[JH-IJoih[EhaHILEHZJ9oFLhITHILIJaHD[oHUIYHLK,Hp4ILHqF[EUIEHWDEh [EFIJHUIEHZIJpIEhIJDUIEH:DWYIETF9YYIEH4LIHLYHq9[WIE4DWUHILEIJHFJG»LTK,IEH]DF,IUJDWIHFJDcFIH[EUHhDWG»»LIJFI7HSDHhI4DEEH»WlFpWLK,HULITI DEoDEhTHJIK,FH[EhDTFWLK,IHRETIWHILEIHq»[JH‽IEITHND[cIJTHp[JiKZaHUIYHILETFHULIHoJi,IEHOEFUIKZIJH[EUHPcIEFI[JIJHIJWIhIEH4DJIE7HOTHTFlJFIHYLK, ELK,FaH4IEEHULIHJILoIEH]GZGTEiTTIHJLEhT[YHD[oHUIEH8GUIEHZJDK,FIEaH,DFFIHLK,HUGK,HTK,GEHLYH\Dh,JIcHhIWIJEFaHUD|HULITIHbJiK,FIH;HILEIYH4ILF +IJcJILFIFIEHPcIJhWD[cIEHp[oGWhIH;HDYH[EFIJIEHOEUIHYLFHp4ILHgP[hIEnHD[ThITFDFFIFHTLEUaHULIHUDJicIJH4DK,IEaHUD|HZILEH4G,W4GWWIEUIJ 8IT[K,IJHp[HqK,DUIEHZGYYF7 ? SLIHOF,EGWGhLEH\DJhJIFH\IDUH,DFHTLK,HLEHL,JIEHqF[ULIEHLEFIETL+HYLFHqDYGDHcIoD|FH[EUHILEHDWWp[HLU›WWLTK,ITH8LWUH+GEHUIEHUGJFLhIE mITIWWTK,DoFTp[TF9EUIEHIEF4GJoIE7HSLIHRWW[TLGEH+GYHgh[FIEHVLWUIEnaHUIJHTK,GEHULIHI[JG»9LTK,IHP[oZW9J[EhHIJWDhaH4[JUIH[EW9EhTFHU[JK,HULI EiK,FIJEIHqK,LWUIJ[EhHUITHUI[FTK,^»GW›EITLTK,IEHqK,JLoFTFIWWIJTHPWcIJFHVIEUFHLETH6ILK,HUIJHbDcIWH+IJ4LITIE7HSLIH8J9[K,IaHULIHD[oHqDYGD +GJ,IJJTK,FIEH[EUHULIHPEZ[EoFHUIJHVIL|IEHp[YHIILWHicIJWIcFIEaH4DJIEHZILEIT4IhTH»DJDULITLTK,7HSLIHUGJFLhIHmITIWWTK,DoFHIJTK,l»oFIHTLK,HLY mIYIFpIWH+IJoILEUIFIJHqF9YYIaH[EFIJTFDEUHILEIJH[EIJcLFFWLK,IEHCWDE^※LIJDJK,LIaHUIJIEH※9[»FWLEhIHULIHTZWD+LTK,IH-IJI,J[EhHL,JIJHEFIJFDEIE
hIEGTTIEH[EUHD[ohJ[EUHL,JIJHViJUIHDWTHQDF[J»JLITFIJHGUIJHqK,DYDEIEHicIJH,IcIEH[EUHIGUHIEFTK,LIUIE7 SLIHOLEoi,J[EhHILEIJHoGJYIWWIEHSIYGZJDFLIHUiJoFIHTLK,H,LIJHTK,4IJF[E7H8ILHUIEHicIJWLIoIJFIEHbITFWLK,ZILFIEHEI,YIEHULIHC,LIoTHULIH※[WULh[Eh UIJH[EFIJIEH]DTFIEHYLFHTFJIEhIJHP[FGJLF9FHIEFhIhIEH[EUHcI4D,JIEHILEH6LF[DWaHcILHUIYHUIJHOEFoDWF[EhH+GEHJLITLhIEH8DTF^[EUH6DooLD,^mI4IcIE ILEIHYDhLTK,IH8IUI[F[EhHp[o9WWF7 SLIHK,JLTFWLK,IH\LTTLGELIJ[EhH,DFFIHqDYGDH[YHUDTHXD,JH7fYeHIJJILK,FH[EUHFLIoIHq»[JIEH,LEFIJWDTTIE7HSLIH]LJK,IaHULIH4LJHDEH‽IEIYHqGEEFDh D[oT[K,FIEaH4DJH+GEHoJGYYIEH:GW›EITLIJEHicIJoiWWF7HSLIH:JIULhIJHUITHSJILILELhIEHmGFFITHTLEUH,I[FIHoDTFHD[TED,YTWGTHOLE,ILYLTK,I7HRYH,D[o UIJHNILFHIJWDEhFIHL,JHOLEoW[|HD[oHULIHmW9[cLhIEHILEIHYDhLTK,IH]JDoFaH4LIHTLIHILETFHUIEHMooLpLDEFIEHUIJHQDF[JJIWLhLGEHLEEI4G,EFI7HREHULITIJ YhIc[EhHIJGFLTK,IJHEcIoDEhIE,ILFaH‽DHTI5[IWWIJHP[TTK,4ILo[EhHY[|FIEHTLK,HULIHDEhIWT9K,TLTK,IEH]iEUIJHUITHJIWLhLlTIEH:[JLFDELTY[TH[EU UIJH+LZFGJLDELTK,IEH:JiUIJLIH4LIHLEHILEIYH-GJ,GoHUIJH※lWWIH+GJZGYYIE7 SLIHTLFFWLK,IHEU[WUTDYZILFHUIJHK,JLTFWLK,IEH:JIULhIJH,DFH4ILFIHIILWIHUITH:DpLoLZHhJiEUWLK,H+IJ9EUIJF7HSDTH9[|IJFIHTLK,HLEHUIJH]LJK,IH+GEHP»LD U[JK,HULIHTFJLZFIH]WILU[EhT+GJTK,JLoFaHULIHULIHqIEUcGFIEHUITHC,JLTFIEF[YTH[EUHYI,JHEGK,HUIJIEHF[hIEU,DoFIHbJD[IEHUIEHOLEhIcGJIEIEHoiJHUIE 8IT[K,HUITHmGFFITULIETFITH+GJhITK,JLIcIEH,DFFIE7H8ILHDWWIYH6IT»IZFH+GJHUIJHbJlYYLhZILFHIEFcI,JFIHUDTHqK,D[T»LIWHELK,FHILEIJHhI4LTTIE ]GYLZ7 SIEH\9EEIJEH,DFFIHYDEHLYYIJ,LEHUDTHIJDhIEHUITHg,D»D,D»Dn^6GKZTHcIWDTTIEaHDcIJHUITTIEHqFGooHY[|FIHYDZIWWGTH4IL|HTILEH4LIHD[K,HULI WDEh9JYIWLhIEH※IYUIE7HSDTHYcLEUIEHILEIJH]JD4DFFIH4[JUIHp[JH:oWLK,FHhIYDK,F7HQGK,HZ[JLGTIJH»J9TIEFLIJFIEHTLK,HULIHTDYGDELTK,IEHbJD[IE7 qLIH4DJIEHD[TED,YTWGTHLEHTK,EII4IL|IH6iTK,IEZWILUIJHhI,iWWF7HXIUIH+GEHL,EIEHFJ[hHD[oHUIYHJDcIETK,4DJpIEH※DDJHILEHcWIEUIEU4IL|IT ]D»GFF^※iFK,IEaHUITTIEHI5FJD+DhDEFIHmITFDWF[EhHDYH※GoIHR,JIJH8JLFLTK,IEH\D‽ITF9FH4G,WHDWTHgUIJELIJHK,LKnHP[oTI,IEHIJJIhFH,9FFI7HSIJ ※l,I»[EZFH[ETIJIJH-IJ4[EUIJ[EhH4DJHIJJILK,FaHDWTHUIJHoJGYYIHC,GJHILEH]LJK,IEWLIUHDETFLYYFIaHUITTIEH\IWGULIHUIYH+GEH※D›UE ZGY»GELIJFIEHSI[FTK,WDEUWLIUHIEFWLI,IEH4DJ7 qGHYDEK,IJHC,DJDZFIJp[hHUIJH\DGJLHoLEUIFHTLK,HcILHUIEHqDYGDEIJEH4LIUIJ7HSDTHWDhHDYHhIYILETDYIEH»GW›EITLTK,IEHJT»J[EhH[EUH4G,W D[K,HDEHUIJHEI[TIIW9EULTK,IEHIJI[,9EUIJTK,DoF7HqGH4[JUIHUDTH6[hc›^q»LIWHYLFH9[|IJTFIJH※9JFIHD[ThIFJDhIEH[EUHp[YH][WFHIJ,GcIE7HQIcIE UIYHlooIEFWLK,IEH8IZIEEFELTHp[JH,I,JIHC,JLTFLH,DcIEH,ILUELTK,IHJY›F,IEHicIJWIcFaH[EUHULIHUiTFIJIHOEFTFI,[EhTZ[EUIHUIJHDWFIEHmlFFIJHWIcF LYHZGWWIZFL+IEH8I4[|FTILEHoGJF7HSIJHY9K,FLhIH8DY›DE^8D[YHhIELI|FHILEIHcITGEUIJIH-IJI,J[EhaH[EUHUIJH]JLIhTFDEpHUIJHqDYGDEIJH9,EIWFHUIY TFDY»oIEUIEH※D^※D^6LF[DWaHYLFHUIYHULIH\DGJLHL,JIEHbILEUIEHcIhIhEIE7HSIEH\LTTLGEDJIEHLTFHITHELK,FHhIW[EhIEaHUIEHOLE,ILYLTK,IEHULIHbJI[UI DEHUIJHI9FG4LIJ[EhHp[HEI,YIEaHULIH,LIJH+GJHDWWIYHD[oHUIYH[EFIJIEH6iKZIEFILWHLEHTK,YIJpWLK,IJH:JGpIU[JH+GJhIEGYYIEH4LJUH[EUHILEIJ ZiETFWIJLTK,IEHcWD[IEHMJEDYIEFLZH[EFIJWLIhF7
SIJHIGUHUITH\LTTLGEDJT :DhGH:DhGH_q^MTFTDYGD`aHLYHqGYYIJH7>88 SIJH※DoIEH:DhGH:DhGHZlEEFIHYDWIJLTK,HTILE7HOLEH4[K,FLhITHbIWTYDTTL+aHUDTH+GEHULK,FIYHSTK,[EhIWHicIJ4[K,IJFHLTFaHJDhFHTFILWHicIJHILEIJ ,DJYGELTK,HhIJ[EUIFIEH8[K,FaHULIHTLK,H+GJpihWLK,HDWTHbWGFFIETFiFp»[EZFHILhEIF7HSGK,HULIHYIETK,WLK,IEHqLIUW[EhIEH+GEH:DhGH:DhGaHUIY -IJ4DWF[EhTTLFpH+GEHq^qDYGDH;HILEIHPETDYYW[EhH9JYWLK,IJH※GWp,iFFIEH[EFIJHVIWWcWIK,U9K,IJEH;aH+IJTDEZIEHLEH\iWW,DWUIEH[EUHSJIKZ7 XD,JpI,EFIWDEhHTK,LIEHTLK,HUIJHPcoDWWHDEhITDYYIWFHp[H,DcIE7HP[oUJLEhWLK,IH6IZWDYIT»JiK,IH;HZEDWWJGFIHVIJc[EhHoiJHCGKD^CGWDHoLIWHcITGEUIJT LETHP[hIH;HF,JGEFIEHicIJH※D[oIEHWIIJIJH]GETIJ+IEciK,TIEH[EUHpIJcJGK,IEIJHbWDTK,IE7HPWFIJFiYWLK,IHP[FGZDJGTTIJLIEHD[THSIFJGLFH+IJJGTFIFIE DYHVIhJDEU7HSLIH6ITLUIEpHUITHDYIJLZDELTK,IEHmG[+IJEI[JTH4DJHUIJHILEpLhIHDETI,EWLK,IH8D[HLEHULITIYHTK,9cLhIEHYoIWU7 YH[ETIJIHEFIJZ[EoFHLEH:DhGH:DhGH;HYDEHT»JLK,FHITHg:DEhGH:DEhGnHD[TH;H4DJHITH4IELhHcITTIJHcITFIWWF7HSDTH※GFIWHhWLK,HILEIJH+IJWDTTIEIE ]DTIJEI7HSDTH»GW›EITLTK,IH※GFIW»IJTGEDWHFJ[hHDcIEFI[IJWLK,IH※D4DLL^※IYUIEHicIJHUIYHWDEUITicWLK,IEH,D»D^,D»D7HOTHIY»oLEhH[ETHYL|Y[FLha oDTFH[E,loWLK,7HSLIH,I[FIHT»JDK,IEHILEHDcTK,I[WLK,H+IJB[9ZFITHPYIJLZDELTK,7 SIJHTK,DJoZDEFLhIaHTFILWIH※DEhHUITHIJWGTK,IEIEH-[WZDETHIJUJiKZFIHULIHJIWDFL+HZWILEIHRETIWH[EUHL,JIH8eHeeeHOLE4G,EIJHYLFHTILEIEHIJTFDJJFIE ,D+DYDTTIE7HOJHFJ[hHUIEHQDYIEHg6DLEYDZIJn7HXIUIH6IhIE4GWZIaHULIHicIJHUIEHYLFFWIJIEH:DpLoLZHFJLIcaHTGH,LI|HITaHcWILcIHDEHULITIYHJLITLhIE 6LooH,9EhIEH[EUHIEFWIIJIHL,JIHVDTTIJU[TK,IEHicIJH:DhGH:DhG7H,LFIJDJLTK,IH8IUI[F[EhH,DFHUDTHFJLTFIHOLWDEUHTK,GEH+GJHhIJD[YIJHNILFHUDEZHILEIJ QG+IWWIHqGYIJTIFH\D[h,DYTHhI4GEEIEaHULIH[EFIJHUIYHDEhIYITTIEIEHILFIWHg6DLEnHIJTK,LIEIEH4DJ7 VLJH,DFFIEHZD[YHZ[DJFLIJHcIpGhIEH[EUHILEIHYL|hIWD[EFIH8ITLK,FLh[EhToD,JFHD[oHUIJH+IJTK,DEUIWFIEH6LEhTFJD|IH,LEFIJH[ETHhIcJDK,FaHUD p9,WFIEH4LJHD[K,HTK,GEHULIHqF[EUIEaHULIH[ETH+GYHVILFIJoW[hHEDK,HID,LFLHFJIEEFIE7HRK,HEI,YIHDEaHUD|HULIHqHQD+›aHULIHLEHULITIYHP[|IE»GTFIE DYIJLZDELTK,IJH\DK,FHULIH4D,JIHP[FGJLF9FHD[TicFaHLEHUIJHN4LTK,IEpILFHoiJHILEH\LELY[YHDEH※›hLIEIH[EUHqD[cIJZILFHhITGJhFH,DF7HPcIJHYILEI EIhDFL+IHVD,JEI,Y[EhHIEFT»JDK,HELK,FHILEIJH»IJTlEWLK,IEH,D[EI7HqLIHUIKZFIHTLK,HYLFHUIEHP[TTDhIEHqGYIJTIFH\D[h,DYTaHUIJH,LIJHILEIJ 9,EWLK,HUI»JITTL+IEHqFLYY[EhH+IJoLIW7 PYHZ[WLEDJLTK,IEHPEhIcGFHUIJHRETIWH‽IUIEoDWWTH,DFFIHTLK,HGooIEcDJHELK,FTHhI9EUIJFaHUIEEHUIJHIEhWLTK,IHP[FGJHcIZWDhFIHTLK,HcIJILFTHicIJHULI DcTK,I[WLK,IEH※DYc[JhIJaHULIHL,YHTIJ+LIJFH4[JUIEaHgF,IHGEW›HULT,HF,IHKGGZHZEI4H,G4HFGHYDZIn7HOTH4DJH‽IUGK,HUIJH6IhIEaHUIJHUIE mIYiFTp[TFDEUHUITHSJ7H\DK»,DLWHLEHUIJHq,GJFHqFGJ›Hg6DLEnH[EIJFJ9hWLK,HcIWDTFIF7 gPEUHSJ7H\DK»,DLWH4DFK,IUHF,IHJDLEnaHTGHcIhLEEFHULIHqK,WiTTIW»DTTDhI7HgSIJH6IhIEHhLEhHL,YHDWWY9,WLK,HD[oHULIHQIJ+IE7HOTH4DJHELK,FH4LI [ETIJHYLWUIJHIEhWLTK,IJH6IhIEaHUIJHoJI[EUWLK,HD[oHUIEH8GUIEHFJG»oF7HSLITIJH6IhIEH4DJHIJcDJY[EhTWGTH[EUHLJhIEU4LIHTK,JIKZWLK,7H\DEHT»iJFI LEHL,YHULIH8GT,DoFLhZILFH»JLYLFL+IJHQDF[JhI4DWF7HSIJH6IhIEHoLIWHELK,FaHIJHTFJlYFI7HOJHZDYH4LIHILEIHqLEFoW[FH+GYH※LYYIWH,IJ[EFIJaH[EUHIJ FJGYYIWFIHD[oHUDTHVIWWcWIK,UDK,HYLFHILEIJHcI,DJJWLK,IEHV[K,FaHULIHp[YHVD,ETLEEHFJLIc7HSIJH6IhIEHIEFoDWFIFIHILEIHL,YHILhIEIHV[FaH[EUHIT TK,LIEaHDWTHYi|FIHYDEHWD[FHTK,JILIEaH4IEEHIJHELK,FHILE,LIWFH]n SLIHOLEhIcGJIEIEH+GEHqDYGDHoWl|FIEHUIYHDETGETFIEHJIK,FHFGWIJDEFIEHPJpFH\DK»,DLWH9,EWLK,IHPc4I,JJIoWI5IHILE7HSLITIHDEhIcWLK,H,DJYWGTIEa ILEo9WFLhIEHQDF[JZLEUIJHIJTK,LIEIEHL,YHDWTHP[ThIc[JFIEHUIJHbLETFIJELTHYLFHL,JIEHI9FG4LIJ[EhIEH[EUHL,JIYHZiETFWLK,HhIcWILK,FIEH※DDJ7HOJ FJD[FIHL,EIEHp[aH»WlFpWLK,HILEHWDEhITH\ITTIJHp[HpiKZIEH[EUHITHL,YHp4LTK,IEHULIHqK,[WFIJcW9FFIJHp[HcG,JIE7HgVIJHZGEEFIHTK,GEHTDhIEaH4IWK,I U[EZWIEHPcTLK,FIEH,LEFIJHL,JIEH4ILFHD[TILEDEUIJTFI,IEUIEHP[hIEHcJiFIFIEnaHTGHTFILhIJFIHTLK,HUIJHOEhW9EUIJHLEHTILEIH:,GcLI7HgSLI OLEhIcGJIEIEHIJLEEIJFIEHDEHULIHbJITZIEHD[TH[JDWFIEH9h›»FLTK,IEHIIY»IWE7HOLEHqK,D[UIJHhLEhH+GEHL,EIEHD[TaHUIJH[EIJYI|WLK,HDWFH4LJZFI7n
SLIHOJp9,W[EhHg6DLEnHJDEZFHTLK,H[YHULIH:IJTGEHUITHDYIJLZDELTK,IEH\LTTLGEDJTHSD+LUTGEH[EUHUITTIEHcLhGFFIHbJD[7HSLITIH»JGFITFDEFLTK,IE :JIULhIJH+IJoihFIEHicIJHILEIHWDEhIHcIJ[oWLK,IHOJoD,J[EhaHULIHTLIHLEHUIJHhILTFWLK,IEH8I+GJY[EU[EhHUIJHYIWDEITLTK,IEH8I+lWZIJ[EhHUIT qDWGYGE^PJK,L»IWTHIJ4GJcIEH,DFFIE7 RYHT»9FIEHEI[EpI,EFIEHXD,J,[EUIJFH4DJIEHULIHqiUTIILET[WDEIJHUIYHYGJDWLTLIJIEUIEHN4DEhaHUIEH»JiUIEH-GJTK,JLoFIEaHUIYHTIZFLIJIJLTK,IE :[JLFDELTY[THUIJHK,JLTFWLK,IEaHicIJ4LIhIEUHDEhIWT9K,TLTK,IEH:JIULhIJH[EUH※ILWT+IJZiEUIJH,LWoWGTH[EUH4I,JWGTHD[ThIWLIoIJF7HSIJIE oJlYYIWEUIJHqIWcTFhIJIK,FLhZILFaHULIHqGYIJTIFH\D[h,DYHDYH8ILT»LIWH\J7H[EUH\JT7HSD+LUTGETHUDJTFIWWFaH4DJIEHZILEIHmJIEpIEHhITIFpF7HOTHWG,EF TLK,aHILEH»DDJH:DTTDhIEHD[THUIEHmIT»J9K,IEHp[HpLFLIJIEaHULIHUIJH6I+IJIEUHSD+LUTGEHYLFHTILEIYHp[o9WWLhIEH6ILTIhIo9,JFIEaHUIYHPJpFH\DK»,DLWa oi,JFI7 gPWTH4LJHcILHUIEHOLEhIcGJIEIEHDEZDYIEnaHTGHUGpLIJFIHUIJH\LTTLGEDJaHg4[|FIEHTLIHhDJHELK,FaH4DTHqiEUIH4DJ7HqLIH+IJhLEhIEHTLK,HhIhIE T9YFWLK,IHK,JLTFWLK,IEHmIcGFIaHG,EIHicIJ,D[»FHp[HD,EIEaHUD|HTLIHqK,[WUHD[oHTLK,HW[UIE7HSIJHTK,4LIJLhTFIHIILWHYILEIJH8IZI,J[EhTDJcILF cITFDEUH4G,WHUDJLEaHUIEH`EDFL+ITaHIJTFHILEYDWHUDTH8I4[|FTILEHoiJHqiEUIHILEp[oWl|IE7n \JT7HSD+LUTGEHL,JIJTILFTHIJcWLKZFIHL,JIEH+GJEI,YTFIEHP[oFJDhHUDJHLEaHUIEH,DWcEDKZFIEHVLWUIEH4ITFWLK,IH]WILU[EhHp[H+IJ»DTTIE7HqGH4[JUIE ULIHILEhIcGJIEIEHbJD[IEHDEhI,DWFIEaHTLK,H+LZFGJLDELTK,HLYHg\GF,IJ^※[ccDJU^qFLWnHp[HZGTFiYLIJIE7HSIJH,D»D^,D»D^qK,[JpH4DJH+IJ»lEF7HgSLI 8I4G,EIJHULITIJHRETIWnaHcIoDEUHULIHIEIJhLTK,IHSDYIaHg4IJUIEHTGHWDEhIHELK,FHhJiEUWLK,HK,JLTFLDELTLIJFHTILEaHI,IHELK,FH‽IUIJH]EDcIH+GY pI,EFIEH,IcIET‽D,JHDEHILEIH※GTIHFJ9hF7nH-GJHDWWIYHULIHIJGFLTK,^T[hhITFL+IEHI9EpIHUIJHOLEhIcGJIEIEH4DJIEHUIEHSD+LUTGETHILEHmJI[IW7HqLI TD,IEHUDJLEHUIEHmL»oIWHlooIEFWLK,IJHRYYGJDWLF9F7HgRK,HUDEZIHmGFFnaHTGHJi,YFIHTLK,HULIH\LTTLGEDJLEaHgUD|H4LJHL,EIEHULITIHTZDEUDWlTIH,[TFHDY IDEpHD[ThIFJLIcIEH,DcIE7n g\LFHb[hH[EUH6IK,FHZDEEHLK,HcI,D[»FIEnaHcIFGEFIHD[K,H\J7HSD+LUTGEaHgUD|H4LJHL,EIEHULITIHETLFFIHTGHhJiEUWLK,HD[ThIFJLIcIEH,DcIEaHUD| 49,JIEUHYILEITHoiEo‽9,JLhIEHP[oIEF,DWFTHD[oHUIEHqDWGYGEIEHZILEHILEpLhIJHUIJH+GEHYLJHcIFJI[FIEH\IWDEITLIJHYI,JHp[HFDEpIEH4DhFI7nHSIJHPJpF \DK»,DLWaHUIJHILEH+IJEiEoFLhIJH\DEEH4DJaH,DFFIHULITIEHP[T4iK,TIEHJIWLhLlTIEHOLoIJTHYLFH4DK,TIEUIJH-IJ4[EUIJ[EhHhIWD[TK,F7HVLIHITHUIEE YlhWLK,HhI4ITIEHTILaHILEIHTGHI5FJIYIHqFJIEhIHU[JK,p[TIFpIEaHoJDhFIHIJ7 gVLJH,DcIEHILEHD[ThIZWihIWFITHq›TFIYH+GEHmIWUc[|IEHIEF4GJoIEaHUDTHD[K,HUDTHbIJEcWILcIEH+GYHmGFFITULIETFH[EFIJHqFJDoIHTFIWWFnaHIJZW9JFI UIJH6I+IJIEU7HREHb9WWIEH,DJFE9KZLhIJHVILhIJ[EhH4iJUIEHULIHqiEUIJHD[THUIJHZLJK,WLK,IEHmIYILEUIHD[ThITK,WGTTIE7HSIJH]LJK,IEcDEEH,DcIHTLK, 4LIHILEIHhITIWWTK,DoFWLK,IHAK,F[EhHD[ThI4LJZF7HSIEHqK,[WULhIEHTILHUDYLFH‽IUIHhI4IJcWLK,IHI9FLhZILFHIEFpGhIEaH‽DHTLIHTILIEHUIYHOWIEU D[ThIWLIoIJFH4GJUIE7 SIJH8IJLK,FHqGYIJTIFH\D[h,DYTHELYYFHILEHFJDhLTK,ITaHDcTK,I[WLK,ITHOEUI7HREHUIJHZWILEIEHmJ[»»IH+GEHPEhIWTDK,TIEaHULIHLEH:DhGH:DhGHD[o ULIHVILFIJoD,JFHp[H[EFIJTK,LIUWLK,IEHNLIWIEH4DJFIEaHLTFHD[K,H\T7HI,GY»TGE7HSLITIH+[Wh9JIH:IETLGE9JLEHILEITH8GJUIWWTHLEHqDEHbJDEKLTKGaHULIHUDT O,I»DDJHSD+LUTGEHLEH,IWWITHOEFTIFpIEH+IJTIFpFaHcIoLEUIFHTLK,HD[oHUIJHS[JK,JILTIHEDK,Hq›UEI›H[EUH+IJT[K,FHD[THLJhIEUILEIYHmJ[EUIaHUIE X[TFLpcI,lJUIEH]DWLoGJELIETHp[HIEFJLEEIE7HSIJH\LTTLGEDJHicIJ4LEUIFHTILEIEHOZIWaHIJH+IJ,LEUIJFHULIHPcJILTIHUIJHlooIEFWLK,IEHqiEUIJLEHLE 6LK,F[EhHP[TFJDWLIEH[EUH»JIULhFHFDhIWDEhHTGHILEUJLEhWLK,H[EUHcITK,4lJIEUHD[oHTLIHILEaHUD|HTLIHTLK,Hp[YH-IJpLK,FHD[oHL,JH,GFFIJWIcIEH[EUHp[J 6iKZZI,JHEDK,HqDEHbJDEKLTKGHcIJILFHIJZW9JF7 XIUGK,HITHZGYYFHDEUIJT7HPYHOEUIHTILEIJHYGJDWLTK,IEHP[oJiTF[EhTDJcILFH+IJo9WWFHE9YWLK,HUIJHI[hIEUcGWUHUIYHGJULE9JIEHC,DJYIHUIJ pIJZELJTK,FIEH※[JIaHW9|FHTLK,Hp[JHIEFTIFpWLK,IEHqiEUIHUITHbWILTK,ITH,LEJIL|IE7HSIJHPJpFH\DK»,DLWHIEFUIKZFHTILEIH,ILK,IHDEHILEIYHFJicIEH\GJhIE DYHqFJDEUH+GEH:DhGH:DhG7HREHTILEIJH-IJp4ILoW[EhaHUIYH,DTFIJH[EUHUIJHTDFDELTK,IEH-IJT[K,[EhHIJWIhIEHp[HTILEaH,DFHUIJH\LTTLGEDJHTLK,HTIWcTF YLFHTILEIYH6DTLIJYITTIJHULIHm[JhIWHU[JK,TK,ELFFIEH[EUHULIHmEDUIHmGFFITH+GWWIEUTH+IJ4LJZF7
SLIHVDJE[EhHQIJ[UDT SLIHqF[Jpc9K,IaHULIHTILFHIDhIEHicIJH:DhGH:DhGHELIUIJhI»JDTTIWFH4DJIEaHIccFIEH»WlFpWLK,HDcaHIEUIFIEHTK,WDhDJFLhaH+IJTF[YYFIEH4LIHD[oHUIE hIcLIFIJLTK,IEHVLEZHILEITH[ETLK,FcDJIEHSLJLhIEFIE7HSLIH[EhI4G,EFIHqFLWWIH4LJZFIH4LIHILEHqK,GKZaHI,IHLK,HTLIHDWTHOJWlT[EhH4D,JED,Y7HRYH※DoIE WDhIEHp4ILHhJD[IHNIJTFlJIJHUIJHqHQD+›H+GJHPEZIJ7HPYHTK,LIoIJhJD[IEH※LYYIWHJLTTIEHILEH»DDJHcWD[IHbIFpIEHD[oaH[EUHU[JK,HUIJIEHoD,WIa hIWchIJD,YFIH,lK,IJHoLIWHILEHFJlTFWLK,IJHqK,ILEHD[oHUDTHoLETFIJIH\DTTL+HUITH6DLEYDZIJT7 REHIF4DHUJILHqIIYILWIEHOEFoIJE[EhHTLK,FIFIHLK,HILEHY9K,FLhITHqK,LooH[EFIJH‽D»DELTK,IJHbWDhhIaHDEHUITTIEH8[hHLK,HE[JHUDTHVGJFHg\DJ[nHp[ IEFpLooIJEH+IJYGK,FI7HOTH,DEUIWFIHTLK,H[YHILEIH‽IEIJHTK,4LYYIEUIEHbLTK,oDEh^H[EUHbLTK,+IJDJcILF[EhToDcJLZIEaHYLFHUIEIEHULIH‽D»DELTK,IE 6IIUIJILIEH[EhIDK,FIFHDWWIJHLEFIJEDFLGEDWIEH:JGFITFIHULIHVIWFYIIJIHWIIJoIhFIEH[EUHLEHUIEHDEFDJZFLTK,IEHmI49TTIJEHUIEHTK,J[Y»oIEUIE 8ITFDEUHDEHVDWIEHp[T9FpWLK,HJIU[pLIJFIE7HSDTHbWDhhIET›YcGWHUIJHD[ohI,IEUIEHqGEEIHWI[K,FIFIHD[oHUIYHUiTFIJIEH※GJLpGEFHEI[HD[opLI,IEUIJ VGWZIEH4LIHILEH8W[FTFJG»oIEHD[oHILEIYHVDFFIcD[TK,7 RYHXD,JH7>88HTFJGFpFIHULIHq[»IJYDK,FHPYIJLZDH+GJHicIJTK,9[YIEUIJH]JDoF7HSIJHqFLWWIHMpIDEHTFDEUHLYH8IhJLooaHp[HILEIYHhLhDEFLTK,IEHg\DJI EGTFJ[YH»DKLoLK[YnHUIJHqPHp[H4IJUIE7HSDTH‽D»DELTK,IH]DLTIJJILK,H4DJHEDK,HUIJHcIULEh[EhTWGTIEH]D»LF[WDFLGEH+GEH7>9*Hp[YH-DTDWWIE hI4GJUIE7HSIJHT»IZFDZ[W9JIH4LJFTK,DoFWLK,IH[EUHFIK,EGHWGhLTK,IHP[oTK,4[EhaHUIJHTLK,HTILFUIYHLYH,DEUHUIJHD[ohI,IEUIEHqGEEIH+GWWpGhaH,DFFI DEHUIJHTFJDFIhLTK,IEHEFIJ4iJoLhZILFaHLEHUIJHIGZLGHhIhIEicIJHUIEHqPHD[TH4G,W+IJTFDEUIEIYHILhIEIYHREFIJITTIH[EUH,LEFIJhJiEULhIYH]DWZiW +IJ,DJJFIaHELK,FHp[HJiFFIWEH+IJYGK,F7 SLIH-GWZTJI»[cWLZHC,LEDaHUIJHITHILEHZED»»ITHXD,JHEDK,HL,JIJHmIc[JFHYLFHILEIYHZD[YHcI4DooEIFIEH\LWWLGEIE,IIJHhIW[EhIEH4DJaHULIHqHPJY› LEH]GJIDHp[YH6iKZp[hHp[Hp4LEhIEaH+IJTDEZHILEHSIpIEEL[YHT»9FIJHLEHUIEHFGTIEUIEHVLJJIEHUIJHmJG|IEH][WF[JJI+GW[FLGEH[EUH4DJ +GJicIJhI,IEUH‽IUIJH※DEUW[EhTo9,LhZILFHcIJD[cF7HmWILK,pILFLhHTFILhIJFIHTLK,HULIHbILEUTK,DoFHp4LTK,IEHUIEHcILUIEHZGYY[ELTFLTK,IEH]GWGTTIE PTLIETH;HC,LEDH[EUHqG4‽IF[ELGEH;HcLTHDEHUIEH6DEUHILEITHZJLIhIJLTK,IEaH»GFIEFLIWWHDFGYDJIEHN[TDYYIE»JDWWTaHTGHUD|HTLK,HLEHUIJ 4ITF»DpLoLTK,IEH6DEUpGEIHILEHN[TFDEUHcILUIJTILFLhIJH,9,Y[EhHILETFIWWFI7 PEHUIJHTiU4ITFWLK,IEHbWDEZIHUITHMpIDETHhDJDEFLIJFIEHULIHcILUIEH+IJciEUIFIEHCGYYGE4IDWF,^qFDDFIEHP[TFJDWLIEH[EUHQI[TIIWDEU +IJW9|WLK,IaHoJI[EUTK,DoFWLK,IHPcTK,LJY[EhaHp[YDWHULIH6IhLIJ[EhH+GEHCDEcIJJDHEGK,HDEHUIJHGcTGWIFIEHSGZFJLEHgV,LFIHP[TFJDWLDnHoITF,LIWF7HRE UIJHLEUGEITLTK,IEH5cIJhDEhTpGEIHp[YHREULTK,IEHMpIDEH,DFFIHUIJH:[FTK,HUITHmIEIJDWHq[,DJFGH+IJ,LEUIJFaHUD|HULITIJHLYYIETIHPJK,L»IWH+GE 7*eeHRETIWEHLEHILEIHLUIGWGhLTK,IH]GEoJGEFDFLGEHYLFHPYIJLZDH;HTILHTLIHYDJ5LTFLTK,IJHGUIJHLTWDYLTFLTK,IJHQDF[JH;HDchWLFF7H-GYHEI[FJDWLTFLTK,IE
mJ[EUZGEpI»FHUIJH8WGKZoJIL,ILFaH+GYHmILTFH+GEH8DEU[EhaHp[HUIJHTLK,HUIJHmJiEUIJ^:J9TLUIEFHP,YIUHq[ZDJEGHhIhIEH,IoFLhIEHVLUIJTFDEUHD[T VDT,LEhFGEHcIZDEEFH,DFFIaH4DJHLEHXDZDJFDHELK,FHYI,JHULIH6IUI7 REH-LIFEDYH,GWFIEHULIHqFJILFZJ9oFIHUIJHqPH;HpI,EHXD,JIHEDK,HUIYHqLIhH※GHITK,LH\LE,THicIJHUDTHoJDEplTLTK,IHO5»IULFLGETZGJ»TH;Hp[Y -IJELK,F[EhTTK,WDhHhIhIEHULIH]GYY[ELTFIEH+GEH※DEGLHD[T7H:J9TLUIEFH,›EUGEH87HXG,ETGEH4DJHIEFTK,WGTTIEaHYLFHTK,GE[EhTWGTIEH,[oFDEhJLooIE [EUHUIJH,DEU[EhHYDTTL+IJH※IIJIT+IJc9EUIHULIH]GETGWLULIJ[EhHUITHWDcLWIEH»JGDYIJLZDELTK,IEH6IhLYITH+GEHqDLhGEHhIhIEHULIHoILEUWLK,I REoLWFJDFLGEHD[THUIYHQGJUIEHp[HhI49,JWILTFIE7HOJHhWD[cFIaHILEIYHLYDhLE9JIEHSGYLEGIooIZFHUIJHVIWFJI+GW[FLGEHLEHhDEpHqiUGTFDTLIE IEFhIhIEFJIFIEHp[HYiTTIEaHUIEHTK,GEHS4Lh,FHS7HOLTIE,G4IJH[EUHXG,EHb7H]IEEIU›HDWTHqK,JIKZhIT»IETFHDEHULIHVDEUHhIYDWFH,DFFIE7 8ILHUIEHI[JG»9LTK,IEaH+GJHDWWIYHUIEHUI[FTK,IEH]GYYIEFDFGJIEHcITFDEUHLEHUIJHIJTFIEH:,DTIHUITHq^OEhDhIYIEFTHLEH-LIFEDYHELK,FHUIJ hIJLEhTFIHN4ILoIWHDEHILEIYHTK,EIWWIEHDYIJLZDELTK,IEHIJL[Y»,aHp[YDWHD[oHUIYHcIhJIEpFIEHIIJJLFGJL[YHp4LTK,IEHZ[DEhHIJLH[EUHCDYD[HUDT ZJLIhIJLTK,IHP[ohIcGFHTLK,HD[oHILEIH,DWcIH\LWWLGEHmRTH[EUHILEIHhLhDEFLTK,IHND,WH+GEH8GYcIJEH[EUH※IWLZG»FIJEH,GK,TK,JD[cFI7 \LFHYILEIJHVDJE[EhH+GJHILEIYHI+IEF[IWWIEHbI,WTK,WDhaHULIHTLK,HD[oHULIHILhIEIH[EYLFFIWcDJIHOJoD,J[EhHLYHUITDTFJlTIEHoJDEplTLTK,IE REUGK,LED^bIWUp[hHTFiFpFIaHhIJLIFHLK,HLEHULIHYLJHLEp4LTK,IEH+IJFJD[FIH6GWWIHUIJHg+G5HKWDYDEFLTHLEHUITIJFGn7H8ILHUIEHTFIFTH4G,WHhITLEEFIE ]GWWIhIEHUIJHhJG|IEHmDpIFFIEHIJEFIFIHYILEIHEIhDFL+IH-GJHD[THTDhIHVLUIJT»J[K,H[EUHq»GFF7HQ[JHULIHIJoD,JIETFIEHDYIJLZDELTK,IE ]GYcDFFDEFIEaHULIHOWLFIFJ[»»IHUIJHgmJIIEH8IJIFTnaH9[|IJFIEH+GEHPEoDEhHDEHILEIH9,EWLK,IHqZI»TLT7HOLEHOWIoDEFHZDEEHZILEIHPYILTIEHpIJYDWYIEa ,LI|HITHUGJF7H-GEHUIEHZJDY»o,DoFHD[ohIcW9,FIEHOLE,ILFIEHUIJHgq»IKLDWHbGJKITnaHULIHTILFHdee7H[EUHdeeYHLEHPoh,DELTFDEH[EUHLYHRJDZHULI ※D[»FWDTFHUITH]DY»oITHFJDhIEaH[EFIJTK,LIUIEHTLK,HULIHgmJIIEH8IJIFTnH+GEH-LIFEDYHU[JK,H,l,IJIEHRZaHU[JK,HcITTIJITHIJDLELEhH[EUHILEI +GJpihWLK,IH]IEEFELTHUITHIIJJDLET7 REHhI4LTTIEH]JILTIEHUITH:IEFDhGEH[EUHD[K,HcILHUIEHMooLpLIJIEHUIJHqH\DJLEITaHULIHLK,HDYHTLIcpI,EFIEH8JILFIEhJDUHD[oT[K,FIaHTK,4IWhFI YDEHUDYDWTHEGK,HLEHI5FJD+DhDEFIEHPYcLFLGEIE7HSDHhLEhHITHELK,FHE[JH[YHULIHEFIJ4IJo[EhHILEITHJIcIWWLTK,IEHN4IJhTFDDFITHDYH6GFIEHbW[|a UIEHPLJHbGJKIHmIEIJDWHC[JFLTH,I\D›HLEHULIHqFILEpILFHp[JiKZcGYcIEH4GWWFI7HbiJHILEIH4LJZWLK,ZILFToJIYUIaHDcIJHZJLIhTWiTFIJEIH,Gcc›HLE VDT,LEhFGEHTK,W[hHGooIEcDJHULIHqF[EUIHUIJHhJG|IEH6I+DEK,IHhIhIEHULIH-GWZTJI»[cWLZH\DGHNIUGEhTH[EUH‽IEIH6GFFIH+GEHJGFIEHghGGZTnaHULIHLE :IZLEhHULIH\DK,FHDEHTLK,HhIJLTTIEH,DFFIE7HSLITITHZGYY[ELTFLTK,IHN4DEhTJIhLYIHTFI,IHD[oHFlEIJEIEHbi|IEaH4IJUIH[E4ILhIJWLK,HUIE pIEFJLo[hDWIEH]J9oFIEHUITH6LITIEJILK,ITHIJWLIhIEH[EUHUIEHVIhHoJILHYDK,IEHoiJHILEIH+GEHPYIJLZDHZGEFJGWWLIJFIHbGJYH+GEHSIYGZJDFLIH[EU ]D»LFDWLTY[T7HSDTH4DJIEHZILEIHDcTFJDZFIEH※LJEhIT»LETFI7 N[YHhWILK,IEHNILF»[EZFH,DFFIHLK,HULIHDcFJiEELhIHRETIWHIDL4DEHD[ohIT[K,FaH4GH\DJTK,DWWHITK,LDEhH]DLTK,IZHEDK,HTILEIJHQLIUIJWDhIH+GEH7>9> N[oW[K,FHhIo[EUIEH,DFFI7HqILEIH+GEHPYIJLZDHD[ohIJiTFIFIH[EUHTFJDooHULTpL»WLELIJFIHQDFLGEDWDJYIIHUITH][GYLEFDEhH4DJFIFIH[EhIU[WULhHD[o hJiEITH,LK,FHD[THVDT,LEhFGEaH[YHhIhIEHUDTHED,IHbITFWDEUH+GJp[TFiJYIEH[EUHULIHYDJ5LTFLTK,IEH\DEUDJLEIHp[H+IJ‽DhIE7HVLIHZGETIB[IEFHULI mIhIEJIhLIJ[EhH+GEHIDL»I,HTLK,HD[oHULIHhJG|IHqK,WDK,FH+GJcIJILFIFIaHZGEEFIHLK,HcILHILEIJHhJG|pihLhHhI49,JFIEHRET»IZFLGEHUIJHRETIWoITF[Eh Z[IYG›HoITFTFIWWIE7HSLITIH4ILFH+GJhITK,GcIEIH8DTFLGEaHULIHYLFHTK,4IJIJHPJFLWWIJLIHcITFiKZFH[EUHp[HILEIYH]WGFpHD[TH8IFGEH[EUHqFD,WHD[ThIcD[F 4GJUIEH4DJaHTGWWFIHDWTHq»J[EhcJIFFHoiJHULIHhI»WDEFIHMooIETL+IHULIEIE7H\LFHUIYHbIWUTFIK,IJHZGEEFIHYDEH+GEHZ[IYG›HD[THLEHDWWIJHSI[FWLK,ZILF ULIHPc4I,JTFIWW[EhIEHUIJH-GWZTcIoJIL[EhTDJYIIHIJZIEEIEaHULIHTLK,HJ[EUH[YHUIEH※DoIEHPYG›aH,I[FIH
=7HDEHMJF [EUHqFIWWIHYLFIJWIcIEHZGEEFIaHTK,4IcFIH+GEHPEoDEhHDEHUDTHSDYGZWITTK,4IJFHUITHg:JGE[EKLDYLIEFGnaHUITH:[FTK,ITHILEIJH»JGDYIJLZDELTK,IE MooLpLIJTKWLB[IH[EFIJHmIEIJDWH:LEGK,IF7HSIJHK,LWIELTK,IHSLK,FIJH[EUHQGcIW»JILTFJ9hIJH:DcWGHQIJ[UDH,DFHUIEHEFIJhDEhHTILEIT mITLEE[EhThIo9,JFIEHqDW+DUGJHPWWIEUIHLEHIWIhLTK,IJH:JGTDHcIZWDhF‼HgREHTILEIYHPJcILFTpLYYIJHIJ4DJFIFHIJHUIEHIGUHG,EIH4ILFIJIHmITIWWTK,DoF DWTHTILEHhJG|ITH※IJpaH[YhIcIEH+GEH6D[K,H[EUHbWDYYIEnaHTGHTK,JLIcHIJ7HSIJHN[hJLooHVDT,LEhFGETHD[oHUIEHWDFILEDYIJLZDELTK,IEHq[cZGEFLEIEF ,DFFIHTLK,H4LIUIJHILEYDWHU[JK,hITIFpF7HSDTHMTF[oIJHUITH:DpLoLZHcWLIcHgKWIDEn7
6ILTIHD[oHILEIEHoJIYUIEHqFIJE SJDZI^:DTTDhIH_P[TFJDW^MpIDE`aHLYH\9JpHdee= SLIHSJDZI^:DTTDhIHp4LTK,IEHbI[IJWDEUH[EUHUIEHqK,GFFWDEU^RETIWEH4LJUHcIJILFTHUIYHP[TFJDW^MpIDEHp[hIJIK,EIF7HqLIHhLWFHEIcIEHUIY cIEDK,cDJFIEH]D»H※GGJEHDWTHUIJHFJihIJLTK,TFIaH+GEH[EcIJIK,IEcDJIEH6LITIE4GhIEHTFIFTHD[ohI4i,WFIH\IIJITU[JK,WD|aHUIYHTGHYDEK,ITHTFGWpI qIhIWTK,LooHp[YHM»oIJHoLIW7HSIJHJ[TTLTK,IHOLTcJIK,IJHmJIhGJ›H\IZI‽I4HTFDY»oFIHYi,TIWLhaHDcIJHTLK,IJHUIYHTiUWLK,TFIEHDJhIEFLELTK,IEH※DoIE T,[DLDH[EUHUIJHTK,YDWIEH8IDhWI^qFJIIFHIEFhIhIEaH4GHULIHqIIHTLK,HcIJ[,LhIEH4iJUI7 ※LEFIJH[ETHWDhHULIHPEFDJZFLTaH[EUHLK,H4DJHoJG,aHUD|H4LJH[ETHZILEIYHUIJHhJG|IEH,[5[TUDY»oIJHDE+IJFJD[FH,DFFIEaHUIJIEHZGY»DZFI IG[JLTFIETK,DJHULITIHOLElUIHD[THOLTaHbIWTH[EUHQIcIWHIEF4IL,FH,9FFI7HqGHZGEEFIEH4LJH[ETHLEHmITIWWTK,DoFHILEIJHJGc[TFIEHJ[TTLTK,IE qK,LooTcITDFp[EhHUIJHRWW[TLGEH,LEhIcIEaHLEHUIEHJGFIEHNGULDK^qK,WD[K,cGGFIEHDWTHILETDYIHOEFUIKZIJHLEHILEIHYLJHcLTWDEhH+lWWLhHoJIYUI YhIc[EhH+GJp[TFG|IEaHDEHUIJHhIYITTIEHUIJHDEHTILEIEH69EUIJEHTK,YIWpIEUIHOLTcWGKZHmJlEWDEUTHJIK,FHYIETK,IEoJI[EUWLK,HIJTK,ILEF7 SLIHPEFDJZFLTH,DcIHLK,HELK,FHDWTHUIEHTIK,TFIEH]GEFLEIEFH[ETIJITHOJUcDWWTH4D,JhIEGYYIEaHTGEUIJEHoi,WFIHYLK,HD[oHILEIEHDEUIJIEH:WDEIFIE +IJTIFpF7HSLIH[EIJcLFFWLK,IEHmITIFpIHcLGWGhLTK,IJHP[TWITIHGooIEcDJFIEHTLK,HUGJFHYLFHcITGEUIJIJHmJD[TDYZILF7H\9K,FLhIHqII^OWIoDEFIEaHULIHTLK, FJ9hIHDYH[EFIJIEHmIJlWWH49WpFIEaHFD[K,FIEH4LIHEhI,I[IJHILEITH※GJJGJoLWYTHD[THUIYHS[ETFHD[o7 SLIH※IIJTK,DJHUIJH:LEh[LEIaHULIHUIYH\IETK,IEHG,EIHqK,I[HcIhIhEIEaHTK,LIEHcILHDWWIJHSJGWWLhZILFHL,JITHVDFTK,IWhDEhTH+lWWLhH4I,JWGTHUIJ mLIJHhJG|IJHTK,4DJpIJH6D[c+lhIWHD[ThIWLIoIJFHp[HTILE7HSLITIH,LIWFIEHP[TTK,D[HEDK,H‽IEIEHTK,49K,WLK,IEHX[EhFLIJIEaHULIHL,JIEHcJD[EIEHbWD[Y ELK,FHJIK,FpILFLhHDcTFJILoIEHZGEEFIEaH[YHYLFHhWDFFIJH6GccIE,D[FHLEHUDTHILTLhIHVDTTIJHDcp[hWILFIEH[EUHUGJFHL,JIHQD,J[EhTT[K,IHD[op[EI,YIE7 RYHN[TFDEUHUIJHOJTK,l»o[EhH4[JUIEHTLIH+GEHUIEHhIoWihIWFIEH8I[FI‽9hIJEHJIhIWJIK,FHpIJ,DKZF7HR,JIHZJ9oFLhIJIEaHhIT[EUIEHPJFhIEGTTIEaHULI UIYHMpIDEHp[TFJIcFIEaH+IJTK,4IEUIFIEHZILEIEH8WLKZHD[oHL,JIHFGUhI4IL,FIEHPJFhIEGTTIEaH+GEHUIEIEHEDK,HZ[JpIYHmIYIFpIWHE[JHILEH»DDJ bIFpIEHicJLhcWLIcIEH[EUHcW[FLhIHqFJILoIEaHULIHTLK,HU[EZIWJGFHU[JK,HULIH4IL|IEHOLTcJGZZIEHpGhIE7
ETIJHcITGEUIJITHREFIJITTIHhDWFHUIEHqIIWIG»DJUIE7HSLITIHIWIhDEFHhITFJIKZFIEHX9hIJaHULIHL,JIEHQDYIEHUIYHbWIKZIEY[TFIJHL,JITHbIWWT +IJUDEZIEaHhI,lJIEHILEIJHI5FJIYHDhhJITTL+IEH6GccIEhDFF[EhHDE7HqLIHZJI[pFIEH[EFIJ,DWcHUIJHOLTZDEFIaH+GEHUIJHULIH:LEh[LEIHTLK,HLETH\IIJ »W[Y»TIEHWLI|IE7HR,JIYHQDYIET+IFFIJHUIJHDoJLZDELTK,IEHqD+DEEIHU[JK,D[TH+IJhWILK,cDJaHpIJoWILTK,FIEHTLIHL,JIH8I[FIHLYHQ[7HOLEITHULITIJ hITK,YILULhIEH6D[cFLIJIH;HITHYGK,FIH+LIJH\IFIJHWDEhHTILEH;H+IJT[K,FIHTGhDJaHTLK,HLEHUIJHJGFIEHqK,[Fp+IJTK,DW[EhH[ETIJITHNGULDK oITFp[cIL|IE7 8ILH[ETIJIEHpD,WJILK,IEH,DEUD[ToWihIEH4[JUIEH4LJH+GEHTGEELhIYHVIFFIJHcIhiETFLhF7HQ[JHILEYDWHT»iJFIEH4LJH[ETHUIEHoiJK,FIJWLK,IE QDF[JhI4DWFIEHULITITH]GEFLEIEFTHD[ThIWLIoIJF7HREHUIJHgSIKI»FLGEH8D›naHULIHL,JIEHQDYIEHp[H6IK,FHFJ9hFaH,DFFIEH4LJHZD[YHD[oHUIYHTK,4DJpIE ,D+DcGUIEHILEITH‽[EhIEH-[WZDED[TcJ[K,THb[|HhIoD|FaHUDH[Y,iWWFIEH[ETH»WlFpWLK,HGJZDE9,EWLK,IHqK,EIITFiJYIaHJD[cFIEH[ETH‽IUIHqLK,Fa +IJ4LTK,FIEH‽IUIHq»[JaHTGHUD|H4LJH[ETH4LIH8WLEUIHDEHUIEHqK,[WFIJEHUIJHIJoD,JIEIEHJ[TTLTK,IEHmIo9,JFIEHoGJFcI4IhFIE7HRYH8JD[TIEHUIJ cWIEUIEU4IL|IEHqK,EIIYDTTIHZDYH[ETH+GJicIJhI,IEUHULIHVD,JEI,Y[EhHDc,DEUIEaH4GHGcIEH[EUH4GH[EFIEH4DJ7 N4LTK,IEHhLhDEFLTK,IEHOLTTK,GWWIEaHULIHTLK,HGoFHp[HmIcLJhIEHFiJYFIEaH4[JUIEH4LJH+GEH8[KZIW4DWIEHcIhWILFIFaHULIHTLK,H;HU[JK,D[T 4G,W4GWWIEUH;HcLTHD[oHILEIEHZED»»IEHPcTFDEUHE9,IJFIE7HqLIH49JIEHU[JK,D[THcIo9,LhFHhI4ITIEaHYLFHILEIYH,IoFLhIEHqK,WDhHL,JIJHhI4DWFLhIE qFI[IJoWGTTIH[ETIJHZWILEITH8GGFHp[HpIJFJiYYIJE7HSLIHh[FYiFLhIEH]GWGTTIHUITHMpIDETaHUIEIEHE[JHUIJH\IETK,HYLFHDEhIcGJIEIYH]LWWIJLETFLEZF EDK,HUIYH,IcIEHFJDK,FIFaH,9FFIEHYLK,HILhIEFWLK,HYLFHclTIEHP,E[EhIEHIJoiWWIEH[EUHD[oHULIHoLETFIJIHqDhIH+GEH\Gc›HSLKZH+IJ4ILTIEHYiTTIE7 PcIJHITHhI,lJFIH4G,WHILEIHEI[JGFLTK,IHmILTFIT+IJLJJ[EhHUDp[aHLEHULITIEHTLK,HT»LIWIEUHF[YYIWEUIEHmLhDEFIEHULIH-IJZlJ»IJ[EhHUITH8lTIEH[EU FI[oWLTK,IJH-IJUDYYELTHp[HIEFUIKZIE7 SIJHJ[TTLTK,IH]D»LF9EHMWIhaHUIYHLK,HYLK,HD[oHUIJH]GYYDEUGcJiKZIH,9[oLhHcILhITIWWFIaHILEHZJDoFTFJGFpIEUIJHqIIYDEEHD[TH\[JYDETZaHUIJ UIJHTK,4IJIEHqIIHYLFHTWD4LTK,IJHmIWDTTIE,ILFHcIhIhEIFIaHWLI|HTLK,HEGK,H4IELhIJHYLFH‽IEIYH]D»LF9EHP,DcH+IJhWILK,IEaHUIEH\IW+LWWIHDWT U9YGELTK,IHq»[ZoLh[JHhIpILK,EIFH,DFFI7HMc4G,WH4LJH+GEHUIEHVGhIEHLYYIJH,IoFLhIJHhIcI[FIWFH4[JUIEaH,IJJTK,FIHILEIHoJl,WLK,IaHoDTF D[ThIWDTTIEIHqFLYY[EhHDEH8GJU7HSLIHh[FIH,D[EIHUIJHoiEoH‽[EhIEH6[TTLEEIEaHULIHUIJH\DEETK,DoFHDEhI,lJFIEaH4DJHU[JK,HZILEHE4IFFIJHp[ FJicIE7HqGHoILIJFIEH4LJHYILEIEHfY7HmIc[JFTFDhHYLFH\[TLZH[EUHIDEpaHYLFH+LIWHVGUZDH[EUHILEIJHJLITLhIEHIGJFI7 REHUIJHT»9FIEHQDK,FHhW9FFIFIHTLK,HUIJHTGETFHTGHD[ohIcJDK,FIHP[TFJDW^MpIDE7HSLIHFJihIJLTK,IHqFLWWIH4[JUIHYLJHp[YH-IJ,9EhELT7HYHUIJ qIIZJDEZ,ILFH[EUHL,JIJH[EIJFJ9hWLK,IEH5cIWZILFHp[HIEFhI,IEaH[EFIJHUIJHUIJH4DKZIJIHC,DJWITHSDJ4LEHoiEoHXD,JIHWDEhHhIWLFFIEH,DFFIaH,DFFIEH4LJ 4LJZTDYIH-GJTGJhIHhIFJGooIEH[EUHILEH[ETK,ILEcDJITH:oWDTFIJH,LEFIJHUDTHM,JHhIZWIcF7HSLITITHND[cIJYLFFIWHFJGKZEIFIH‽IUGK,HULIH]I,WIHD[TH[EU IJJIhFIHTFDJZIEHS[JTF7HSIJH+GJicIJhI,IEUIEHbWD[FIH+IJFJD[IEUaHFDTFIFIHLK,HYLK,Hp[HUIYHVDEUTK,JDEZH+GJaH4GHTLK,Hp4ILH:WDTFLZoWDTK,IEHYLF VDTTIJHcIoDEUIEaHDWTHG,EIH‽IUIH-GJ4DJE[EhHILEHhI4DWFLhIJH8JIK,IJHTILFWLK,HhIhIEHULIH8GJU4DEUHZJDK,FI7 REH,G,IYH8GhIEH4[JUIHLK,HU[JK,HULIH]D‽iFIHhITK,WI[UIJFaH»JDWWFIHD[oHILEIEHYIFDWWLTK,IEH]GooIJJDEUH[EUHcWLIcHYLFHIEFTIFpWLK,IEHqK,YIJpIE [EUHUIJH8IoiJK,F[EhaHILEIHZ[IJTK,ELFFTW9,Y[EhHIJWLFFIEHp[H,DcIEaHp4ILHqF[EUIEHWDEhHWLIhIE7Hq»9FIJHTFIWWFIHTLK,H,IJD[TaHUD|HLK,HYLJHWIULhWLK, ILEIH6L»»IHD[oHUIYH6iKZIEHhIcJGK,IEH,DFFIaHILEIH-IJWIFp[EhaHULIH»JGcWIYWGTH[EUHTK,EIWWH+IJ,ILWFI7HPcIJHYILEH6iKZIEH+GEHUIJHqK,[WFIJHcLT p[YHmIT9|HTK,LWWIJFIHLEHDWWIEHqK,DFFLIJ[EhIEH;HcWD[aHJGFaHhIWcH[EUHhJiEH;aHILEIHoDJcLhIHI9FG4LIJ[EhaH[YHULIHYLK,H‽IUIJH\DGJL^]JLIhIJHcIEILUIF ,9FFI7 PYHOEUIHhIWDEhHITHYLJaHUIEHqK,LooTDJpFHp[H4IKZIEaHUIJHYLFH\GJ»,L[YT»JLFpIEHULIH:ILEHWLEUIJFIH[EUHYLK,H4LIUIJHILETDFpo9,LhHYDK,FI7HY YLK,HDcp[WIEZIEaHicIJJILK,FIHYLJHUIJHqDYDJLFIJHILEIEHZWILEIEHqFD»IWHNILFTK,JLoFIE7HSDH4LJH+GEHUIEHOJILhELTTIEHUIJHicJLhIEHVIWFHTILFHp4IL VGK,IEH+lWWLhHDchITK,ELFFIEH4DJIEaHhJLooHLK,HcIhLIJLhHEDK,HUIJH,IZFiJIaHY[|FIH‽IUGK,Hp[HYILEIJHOEFF9[TK,[EhHoITFTFIWWIEaHUD|HUIJIE OJTK,ILE[EhTUDF[YH[YHYI,JIJIH\GEDFIaH‽DHXD,JIHp[JiKZWDh7H8ILYH8W9FFIJEHLEHUIJHDJK,DLTK,IEHqDYYW[EhHIEFUIKZFIHLK,HLEHILEIJHP[ThDcIH+GE QI4T4IIZHD[THUIYHXD,JHdeeYHILEIHPccLWU[EhaHULIHYLFHYIJZ4iJULhIEHPTTGpLDFLGEIEH+IJc[EUIEH4DJ7 P[oHUIYHILFIWcWDFFH»JDEhFIHILEIHSDJTFIWW[EhH+GEHqF9JZIH[EUHIJL[Y»,aHULIH;HcILH]IEEFELTHUITH4ILFIJIEH-IJWD[oTHUIJHOJILhELTTIH;HUIEHqFIY»IW UITHQLIUIJhDEhTHFJ[h7H:J9TLUIEFHmIGJhIHV7H8[T,H4DJHDchIcLWUIFaHDWTHIJHD[oHUIYHSIKZHUITHbW[hpI[hFJ9hIJTHgPcJD,DYH,LEKGWEnHp[HILEIJ ‽[cIWEUIEHqK,LooTcITDFp[EhHT»JDK,7HSDTH]JLIhTTK,LooHZJI[pFIH+GJHUIJHZDWLoGJELTK,IEH]iTFIaH[EUHD[oHILEIYHJLITLhIEHIJDET»DJIEFaHUDTHicIJHULITI ,GWW›4GGU4iJULhIHRETpIELIJ[EhHhIT»DEEFH4DJaHTFDEUHp[HWITIE‼Hg\LTTLGEHDKKGY»WLT,IUn7 SIJHCGYYDEUIJ^LE^C,LIoH+IJZiEUIFIaHDWWIEHJIDWIEHOJZIEEFELTTIEHp[YHIJGFpaHPYIJLZDH,DcIHUIEHbIWUp[hHgRJDBLHbJIIUGYnHIJoGWhJILK, DchITK,WGTTIE7HOLhIEFWLK,H,9FFIH+GEHULITIYH:JG»DhDEUDD[oFJLFFaH+GEHUIJHTFGWpIEHC9TDJIEYDTZIHUITH:J9TLUIEFIEH[EUHUIEH,GooE[EhT+GWWIE 8WLKZIEHTILEIJH\DFJGTIEHILEIHp[+IJTLK,FWLK,IaH‽DHI[»,GJLTK,IHqFLYY[EhHD[ThI,IEHYiTTIE7HSGK,HLK,HJIDhLIJFIHhDEpHDEUIJTaH[EUHUDTHWDhHELK,F E[JHDEHYILEIJH-IJ9JhIJ[EhHUDJicIJaHUD|H,LIJH4LIUIJHILEYDWHTK,DYWGTHhIWGhIEH[EUHILEIH[E+IJDEF4GJFWLK,IHbGJYHYDTTL+IJHSITLEoGJYDFLGE cIFJLIcIEH4[JUI7 VDJHITHILEHVDK,FJD[YaHUIJHD[oHULIHVLJZ[EhHUITH\GJ»,L[YTHp[JiKZp[oi,JIEH4DJ_HSLITIJHRY»IJDFGJHUIJHQI[IEHVIWFaHUIJHUDTHFJihIJLTK,I q»IZFDZIWHTGHTIWcTF,IJJWLK,HhIEG|aHIJTK,LIEHYLJH»WlFpWLK,H[EFIJHUIJHFJDhLTK,IEH\DTZIHUITH]D»LF9EHP,DcaH[EUHLEHUIEH4ILFHD[ohIJLTTIEIEHP[hIE UIJHcIhILTFIJFIEH\DFJGTIEHUITHbW[hpI[hFJ9hIJTHT»LIhIWFIHTLK,HUDTHOEFTIFpIEHUIJH※DJ»[ELIJIJHUIJHg:IB[GUnaHDWTHTLIHUDTH\GETFJ[YH\Gc›HSLKZ D[THUIEHbW[FIEHUITH:DpLoLZHD[oFD[K,IEHTD,IE7 OTHLTFHELK,FHUDTHIJTFIH\DWaHUD|HLK,HYLK,HcILHUIJH»GWLFLTK,IEH8I4IJF[EhHDZF[IWWIJH-GJh9EhIHLEHqPHUIJH:DJDWWIWIHp4LTK,IEHmIGJhIHV7H8[T,H[EU UIYH]D»LF9EHP,DcHcIULIEI7HmI4L|aHLYHTFIFTHp[+IJTLK,FHWLK,IEaHIEIJhLTK,IEHP[TUJ[KZHUITHDYIJLZDELTK,IEHqFDDFTK,IoTH4DJHELK,FHULIHhIJLEhTFI A,EWLK,ZILFHp[HIEFUIKZIEHYLFHUIJHoLETFIJIEH-IJcLTTIE,ILFaHULIHUIEHVDWoLTK,‽9hIJHP,DcHcILHTILEIJHY›F,LTK,IEHXDhUHB[9WFI7HPcIJHULITIHp[FLIoTF [EFIJTK,LIUWLK,IEHmITFDWFIEHcLWUIFIEHhI4LTTIJYD|IEHULIH]I,JTILFIHUIJHhWILK,IEH\IUDLWWI7 8ILUIHoi,WFIEHTLK,HLEHL,JIJHOLhIETK,DoFHDWTHgcGJEHDhDLEnH+GEHmGFFHcIJ[oIEaHUIEH]J9oFIEHUITH8lTIEHp[HFJGFpIE7HqLIH,DEUIWFIEHLYHP[oFJDhHUIT PWWIJ,lK,TFIEaH[YH‽IEIHTDFDELTK,IEH]J9oFIHD[Tp[JGFFIEaHULIHTLK,HoiJHUIEHILEIEHLEHUIJHEFIJhDEhT+LTLGEHUITHVDWTH\Gc›HSLKZaHoiJHUIEHDEUIJIEHLE UIJH※GJJGJhITFDWFHUITHIIJJGJLTFIEHMTDYDHcLEH,DUIEHGooIEcDJFIE7HREHULITIJHD»GZDW›»FLTK,IEH]GEoJGEFDFLGEHhDcHITHZILEHQDK,WDTTIEaHZILEH6DTFIEa ZILEIHmEDUI7HSIJHFI[oWLTK,IHVDWH+IJZlJ»IJFIHDWWH‽IEIH]J9oFIHUIJH-IJUDYYELTaHhIhIEHULIHTK,GEHULIH:JG»,IFIEHRTJDIWTHL,JIEH8DEEoW[K, hITK,WI[UIJFH,DFFIEaH49,JIEUHMTDYDHcLEH,DUIEH[EUHTILEHmIT»IETFIJhIoGWhIH+GEHOWHZDLUDHUIEH]IJEHILEIJH4IWF4ILFIEH-IJTK,4lJ[EhHcLWUIFIEa ULIHULIH-IJELK,F[EhHDWWH‽IEIJHK,JLTFWLK,IEH[EUHUIYGZJDFLTK,IEHVIJFIHcIFJLIcIEaHUIEIEHgPYIJLKDHF,IHcID[FLo[WnHTILEIHF[hIEU,DoFI OLEpLhDJFLhZILFH+IJUDEZFI7
SIJHIJWGTK,IEIH,I[K,FF[JY
VIEEHLK,HLYYIJH4LIUIJHD[oHOJLEEIJ[EhIEHUITH+IJhDEhIEIEHXD,J,[EUIJFTHp[JiKZhJILoIaHTGHhI,FHITHELK,FHE[JH[YHULIHP[op9,W[EhH»IJTlEWLK,IJ PEIZUGFIEHGUIJHULIHoWiK,FLhIHqK,LWUIJ[EhHcLpDJJIJHO5GFLZ7HSLIH8ITK,WI[ELh[EhHUIJHhITK,LK,FWLK,IEHPcW9[oIaHULIHILEHC,DJDZFIJLTFLZ[YH[ETIJIJ O»GK,IHLTFaH,DFHD[K,HUIEH»DpLoLTK,IEH6D[YHELK,FH+IJTK,GEF7HVIEEHLYH\9JpHdee=HULIH-IJILELhFIEHqFDDFIEH+GEHPYIJLZDHD[THTK,4LEUIWEUIJH※l,I DchIT[EZIEH4DJIEH[EUHL,JH\DK,FYGEG»GWaH‽DHL,JHTFJD,WIEUITH:JITFLhIHILEhIci|FH,DFFIEaHTGHWDhHUDTHELK,FHDWWILEHDEHmIGJhIHV7H8[T,aHUIJHLE TILEIJHYD|WGTIEH※›cJLTHUDTHTFGWpIHbWDhhTK,LooHqPHIcIETGHcITITTIEHDEHUIEH6DEUHILEIJH]DFDTFJG»,IHTFI[IJFIH4LIH;H[YHcILHULITIY icIJTFJD»DpLIJFIEH-IJhWILK,Hp[HcWILcIEH;HUIJH]D»LF9EHP,DcHTILEIEHLYDhLE9JIEH-LIJYDTFIJHUIYHEFIJhDEhHD[ThIWLIoIJFH,DFFI7 gSIJH+IJ,9EhELT+GWWTFIH:J9TLUIEFHUIJHDYIJLZDELTK,IEHmITK,LK,FInaHTGHLTFHUIJHoJlYYIWEUIHbDJYIJH+GEHCJD4oGJUH+GEHUIEHILhIEIEH\IULIE hITK,Y9,FH4GJUIE7HSDTHYDhHicIJFJLIcIEHZWLEhIE7HEFIJHTILEIEH-GJh9EhIJEHcIoDEUIEHTLK,Hp4ILoIWWGTHN[oDWWTcIJ[o[EhIEH[EUHSLWIFFDEFIEaHULI L,YHDEH]GY»IFIEpH[EUHOEFTK,WGTTIE,ILFH[EFIJWIhIEH4DJIE7HQ[JH,DFFIHILEIHbI,WcITIFp[EhHLYHVIL|IEH※D[THLEHoJi,IJIEHNILFIEHELK,FHTG 4ILFhJILoIEUIHbGWhIEHEDK,HTLK,HhIpGhIEaH‽DHTLIH4[JUIH‽IETILFTHUIJHmJIEpIEHUIJHqPHZD[YH4D,JhIEGYYIE7HSLITIJHN[TFDEUH,DFFIHTLK, UJDYDFLTK,HhI9EUIJFaHTILFHPYIJLZDHULIH6GWWIHUIJHgLEULT»IETDcWIHEDFLGEnHD[TicF7 QGK,HcI+GJHmIGJhIHV7H8[T,HTLK,HDWTHg4DJH»JITLUIEFnHp[H»JGoLWLIJIEHT[K,FIaH,DFFIEH;Hp[YDWHLYHDTLDFLTK,^»DpLoLTK,IEH6D[YH;H[EhI,I[IJWLK,I mI4LK,FT+IJWDhIJ[EhIEHTFDFFhIo[EUIE7HSLIHPcW9[oIHTLEUHcIZDEEFH[EUHTGWWIEH,LIJHE[JHhITFJILoFH4IJUIE7H-GEHILEIJHYGEG»GWDJIEaHD[oHVDT,LEhFGE pIEFJLIJFIEHVIWFGJUE[EhHZDEEHELK,FHYI,JHULIH6IUIHTILEHZDEEaHTILFHULIHqHPJY›HL,JH-LIFEDY^SIcDZIWHIJWLFFaH+GJHDWWIYHTILFHULIH-GWZTJI»[cWLZ C,LEDHLEHILEIYH,LTFGJLTK,HILEYDWLhIEH]JDoFDZFHUIEHVIhHp[JHVIWFYDK,FHcITK,JLFF7 QDK,UIYH\DGHNIUGEhaHUIYHYIETK,IE+IJDK,FIEUIEHmJiEU[EhTZDLTIJHZLEH
-IJY[FWLK,H49JIHITHoiJHULIH8iJhIJHUIJHqPH[EUHULIHicJLhIH\IETK,,ILFH+GEHqIhIEHhI4ITIEaH4IEEHp[YHNILF»[EZFHUITHoiJK,FIJWLK,IEHqK,GKZTa UIEHULIHPETK,W9hIHD[oHUDTH※IJpH\DE,DFFDETH[EUHUDTH:IEFDhGEHD[TWlTFIEaHILEHqZI»FLZIJaHTGhDJHILEHN›ELZIJHULIHmITK,LKZIHUIJHhJl|FIE VIWFYDK,FHhIWIEZFH,9FFIaHTFDFFHULITITHJIWLhLlTHLWW[YLELIJFIEHVLJJZG»oITaHUIJHULIHVILT[EhIEHgTILEITH-DFIJTHLYH※LYYIWnHD[oHTILEIJHFI5DELTK,IE 6DEK,HYLFHUIYHmIoi,WHI5DWFLIJFIJH8IJ[o[EhHIEFhIhIEED,Y7HSLITIJHT»GJFWLK,HD[oFJIFIEUIH]D»LF9EHP,DcHUIJHQI[pILFaHUIJHTLK,HhIJEHLEH‽G+LDWIJ [EUHZ[Y»IW,DoFIJH:GTIHD[oHUIYHIJDZFGJH»,GFGhJD»,LIJIEHWLI|aHLEHVLJZWLK,ZILFH‽IUGK,HUIJHOEUpILFTFLYY[EhHUIJHgO+DEhIWLKDWTnHED,ITFDEUa ci|FIH‽IUIHmWD[c4iJULhZILFHILEaH4[JUIHDWTH]iEUIJHUIYGZJDFLTK,IJHI[hIEUH+GWWIEUTH[EIJFJ9hWLK,aHDWTHIJHTILEIEHbIWUp[hHgRJDBLHbJIIUGYnHYLF bI,WLEoGJYDFLGEIEaHYLFHILEIJHTK,DYWGTIEHRJJIoi,J[EhHUIJHlooIEFWLK,IEH\ILE[EhHp[HJIK,FoIJFLhIEHT[K,FI7 REH8DhUDUHTGWWFIHD[oHUIEH6[LEIEHUITHqDUUDY^6IhLYITHILEHg,I[K,FF[JYHUIJHbJIL,ILFnHIJTFI,IEaHUIJHLYHN[hIHILEITHLYDhLE9JIEHSGYLEGIooIZFT p4LTK,IEH\DJGZZGH[EUH:DZLTFDEHUIEHRUIDWIEHUIJHgbJILIEHVIWFnH;HDEUIJTHhITDhFaHUIEHDYIJLZDELTK,IEHVIJF+GJTFIWW[EhIEH;Hp[YHS[JK,cJ[K, +IJ,IWoIEH4iJUI7 OLEHmL»oIWHUIJHqIWcTFIJELIUJLh[EhH4DJHIJJILK,FaHDWTHULIH※GJJGJcLWUIJHUIJHhIoGWFIJFIEH[EUHhITK,[EUIEIEHLJDZLTK,IEH※9oFWLEhIHUIJH]IJZIJH+GE Pc[Hm,JDLcHULIH@ooIEFWLK,ZILFHIJJILK,FIE7HSLITIHTDULTFLTK,IEHP[T4iK,TIH[EUHULIHoWDhJDEFIH\L|DK,F[EhHUIJHIWIYIEFDJIEH\IETK,IE4iJUI hI,lJFIEH‽DHD[K,HLEHUIEH,DhIJEH+GEHm[DEFbEDYGH[EUHLEHUIEH-IJ,lJpIWWIEH+GEH8DhJDYaH+GEH]DEUD,DJH[EUHTGHYDEK,IYHDEUIJIEHMJFHGooIEcDJ p[JH6G[FLEIHILEITHq›TFIYTaHUIYH[EW9EhTFHEGK,HULIH8I4[EUIJ[EhH[EUHULIH※GK,DK,F[EhHUIJHVIWFHhDWFIE7 SLIHOEFJiTF[EhHUIJHO[JG»9IJH,LIWFHTLK,HLEHmJIEpIEaH[EUHULIH6IhLIJ[EhTK,IoTHUIJH+IJciEUIFIEHQDFLGEIEH+IJUJ9EhFIEHULIH[EIJFJ9hWLK,IE -LTLGEIEHD[THmJiEUIEHYGJDWLTK,IJH8IB[IYWLK,ZILFHD[THL,JIJHDZ[FIEHVD,JEI,Y[Eh7HmDEpHDEUIJTaHhIJDUIp[HI5»WGTL+H,LEhIhIEH4LJZFIEHTLK,HULI OEF,iWW[EhIEHcILH‽IEIEH-lWZIJEHUIJHTGhIEDEEFIEHSJLFFIEHVIWFHD[TaHULIHTLK,H+GEHPYIJLZDHILEHIEIJhLTK,ITHOLETK,JILFIEHhIhIEHULIHcW[FLhIE O5pITTIHUIJHILhIEIEHVLWWZiJ^6IhLYIH[EUHI›JDEEIEHIJ,GooFH,DFFIE7
OLEHbJIL,ILFTWLIUHD[oHbI[IJWDEU -GJHUIJHPEZ[EoFHUIJHgmJIhGJ›H\IZI‽I4nHLEHT,[DLDH4DJHUIJHqK,LooTDJpFHEGK,HILEYDWHp[HYLJHLEHULIH]D‽iFIHhIZGYYIEaH[YHYLJHILEI \GJ»,L[YT»JLFpIHp[H+IJ»DTTIE7HVLIHTLK,HLYHmIT»J9K,H,IJD[TTFIWWFIaH4DJHUIJH9WFIJIaHcITK,ILUIEIH[EUHIF4DTHFJD[JLhH4LJZIEUIH\DEEHUI[FTK,^ K,LWIELTK,IJHPcTFDYY[EhH[EUH,DFFIHDWTHPE,9EhIJHqDW+DUGJHPWWIEUITHUIEH※DoIEH-DW»DJDLTGaH4GHIJHDJcILFIFIaHTILEIJpILFHoW[K,FDJFLhH+IJWDTTIE7HOJ 4DJH+LIWHLEHUIJHVIWFH,IJ[YhIZGYYIEH[EUHD[oHULIHgmJLEhGTnaHULIHcILHUIJH\DK,FIJhJILo[EhHUITHmIEIJDWH:LEGK,IFHILEIHYD|hIcWLK,IH6GWWI hIT»LIWFH,DFFIEaHELK,FHh[FHp[HT»JIK,IE7HSGK,HIJHIJhLEhHTLK,HELK,FHLEHpihIWWGTIJH:GWIYLZ7HOJH4[|FIHD[THFJicIJHOJoD,J[EhaHUD|HULIH-IJILELhFIE qFDDFIEHp[JHVD,J[EhHL,JIJH+LFDWIEHREFIJITTIEHU[JK,D[THLEHUIJH,DhIH4DJIEaH+GEHL,JIEH,I,JIEHRUIDWIEHPcTFDEUHp[HEI,YIE7 ,DFILEDYIJLZDH,DFFIHLEHULITIJH※LETLK,FH+GEHm[DFIYDWDHcLTHqDEFLDhGHcLFFIJIHOJoD,J[EhIEHhITDYYIWF7HSLIH8[T,^PUYLELTFJDFLGEH,DFFIHITHELK,F hITFlJFaHUD|HULIH\I,JpD,WHL,JIJH-DTDWWIEH[EUH]WLIEFIEHVD,WIEHGUIJH-GWZTcIoJDh[EhIEHTK,DYWGTHYDEL»[WLIJFIaH[EUHEGFoDWWTH,DFFIHTLIHTGhDJ F›JDEELTK,IEHSLZFDFGJIEaHcJ[FDWIEH\LWLF9JKWLB[IEHGUIJHZGJJ[»FIEHS›EDTFIEHUIEHqFILhcihIWHhI,DWFIE7 gqLIH4IJUIEHUIEZIEaHLK,HTILHILEHYDJ5LTFLTK,IJHRUIGWGhIHhIcWLIcIEnaHcIYIJZFIHUIJHPJpFHYLFHILEIYHIEFTK,[WULhIEUIEH,9K,IWEaHDcIJHLK,H,DFFI ‽DHTIWcIJHGoFHhIE[hHoITFhITFIWWFaHUD|HULIH※ILWTcGFTK,DoFH+GEHSIYGZJDFLIH[EUH\DJZF4LJFTK,DoFaHD[oHULIHULIHO[JG»9IJHD[oHZILEIEHbDWWH+IJpLK,FIE TGWWFIEaHTLK,HoiJHDEUIJIH][WF[JZJILTIHDWTH[EFD[hWLK,aH‽DHDWTHZGEFJD»JGU[ZFL+HIJ4LITIEH,DF7HqIWcTFHLEH,9EUIJEaHULIHoGJYIWWHDYH6LF[DWHUIT :DJWDYIEFDJLTY[THoITF,LIWFIEH;HhIWIhIEFWLK,H,DFFIEHTLIHTGhDJHULIH:IJiKZIEH+GEHVITFYLETFIJHcILcI,DWFIEH;aHTFIWWFIHTLK,HILEIH[ED[o,DWFTDYI PcZI,JH+GEH4ITIEToJIYUIEH6IhLIJ[EhToGJYIEHILEaHULIHL,EIEHULIH4IL|IH]GWGELTDFLGEHILETFHGZFJG›LIJFIH[EUHUD[IJ,DoFHp[H+IJIJcIEHhWD[cFI7 SLIHhJG|IEaHEI[IEH\9K,FIH;HLEHVLJZWLK,ZILFHTLEUHITH‽DHULIHDWFIEH\9K,FIH;aHULIHTLK,HEDK,HILEIYH,DWcIEHXD,JFD[TIEUHK,JLTFWLK,^DcIEUW9EULTK,IJ 8I+GJY[EU[EhH4LIUIJHp[HVGJFH[EUHp[JH\DK,FHYIWUIEaHTLEUHW9EhTFHUDp[HicIJhIhDEhIEaHEDK,HILhIEIEHhITIWWTK,DoFWLK,IEHqFJ[ZF[JIEHP[TTK,D[ p[H,DWFIEaHGcHTLIHE[EHULIHq[K,IHEDK,HUIYHLTWDYLTK,IEHmGFFITTFDDFHD[oEI,YIEHGUIJHULIHZGEo[pLDELTK,IH,I,JIH+GEHUIJH※DJYGELIHp4LTK,IE ※LYYIWH[EUHOJUIHEI[HcIWIcIE7HPWWp[GoFHo9WWFHYDEHLEHULIHIJDULFLGEH+GEHP[FGZJDFLIH[EUHMWLhDJK,LIHp[JiKZaHULIHE[JHLEHTIWFIEIEHb9WWIEHDWT D[ohIZW9JFHGUIJH4G,W4GWWIEUHcIpILK,EIFH4IJUIEHZDEE7 RYHbIcJ[DJHdee=HcIoDEUHTLK,HUIJHoLEDEpLIWWIHN[TDYYIEcJ[K,aHUIJHPcTF[JpHLEHULIH6IpITTLGEaHULIHp4ILHXD,JIHT»9FIJHicIJHULIHhWGcDWLTLIJFI goDYLW›HGoHEDFLGETnH4LIHILEIHQDF[JZDFDTFJG»,IaH4LIHILEHlZGEGYLTK,IJHIT[EDYLH,IJILEcJIK,IEH4iJUIaHEGK,HD[|IJ,DWcHUIJH-GJTFIWW[EhT4IWFHUIJ DEhIcWLK,H[EoI,WcDJIEHPEDW›TFIEH[EUHP[h[JIE7HSDcILH,DFFIHTLK,HLEHMTFDTLIEHDYH8ILT»LIWHUIJHJIhLGEDWIEHgILhIJTFDDFIEnHW9EhTFHIJ4LITIEaHUD| UDTHEIGWLcIJDWIHO+DEhIWL[YaH4GEDK,HULIHUIYGZJDFLTK,IHqFDDFToGJYH[EDcULEhcDJIH-GJD[TTIFp[EhHoiJHFIK,EGWGhLTK,IEHbGJFTK,JLFFH[EU 4DK,TIEUIEHVG,WTFDEUHUITH-GWZITHTILaH‽IUIEH6IDWLF9FTTLEETHIEFcI,JFI7H-GJHDWWIYHTIFpFIHTLK,HUGJFHYLFHU[JK,TK,WDhIEUIYHOJoGWhHILEIHGJLhLEIWWI :JD5LTHUITHqFDDFTZD»LFDWLTY[THU[JK,aHULIH[EFIJHUIJHAhLUIH+GEHZGYY[ELTFLTK,IEHOLE,ILFT»DJFILIEHLEHC,LEDH[EUHLEH-LIFEDYHJIiTTLIJFI7 SDTHUITGWDFIHPchWILFIEHUIJHg‽[EhIEnHDoJLZDELTK,IEHQDFLGEIEHLEHC,DGTH[EUHqFDYYIToI,UIEHoi,JFIHDEUIJIJTILFTH+GJHP[hIEaH4LIHUITFJ[ZFL+ TLK,HULIH5cIJFJDh[EhHUITH4ITFWLK,IEH:DJFILIET›TFIYTHD[oHUIEHDEhITFDYYFIEHIJLcDWLTY[THUITHqK,4DJpIEH]GEFLEIEFTHD[T4LJZFI7HSLI I[JG»9LTK,IEH:GWLFLZIJH[EUH:[cWLpLTFIEH4LIUIJ[YH,DFFIEHTLK,HU[JK,HULIHUL+IJTIEHYLWLF9JLTK,IEHbI,WTK,W9hIHUIJHqPH[EUHULIHUGJFHp[EI,YIEUI -IJJG,[EhHUIJHqLFFIEHLEHL,JIJHPYIJLZDhW9[cLhZILFHZD[YHcILJJIEHWDTTIE7HqLIH4iJUIEHDEHULITIYH-GJcLWUHUIJHbJIL,ILFHIJTFHLJJIH4IJUIEaH4IEEHLE VDWWTFJIIFHUIJHmlFpIEFIY»IWHUITHmGWUIEIEH]DWcITHIJTK,iFFIJFaH4IEEHULIHI5LTFIEFLIWWIH]JLTIHUITHDEhIWT9K,TLTK,HGJLIEFLIJFIEHI[JcGZD»LFDWLTY[T [EUHTILEIJHSIJL+DFIHD[oHUDTHhIoihLhHDEhI»D|FIHq›TFIYHUIJHI[JG»9LTK,IEH8DEZIEHicIJTK,4D»»IEH4iJUI7 SIJHqK,LooTDJpFH,DFFIHTLK,HLYHQG+IYcIJH7>=7HLEHqDEFLDhGHUIHC,LWIHD[ohI,DWFIEH[EUH;H4LIHLK,HL,EHILETK,9FpFIH;HUIYHg,LTFGJLTK,IEnHIJIooIE p4LTK,IEHUIYH\b5LYGH,cUIJHbLUIWHCDTFJGH[EUHTILEIYHLUIGWGhLTK,IEH-IJciEUIFIEHqDW+DUGJHPWWIEUIHp[hI‽[cIWF7H\ILEH6iKZcWLKZHD[oHULITIT -GWZToITFH[EFIJHJGFIEHbD,EIEH4DJH4IELhIJHicIJTK,4IEhWLK,aH4DJHLK,HUGK,HD[THJ[h[D›HDEhIJILTFaH4GHp[HULITIYHNILF»[EZFHUDTHJI+GW[FLGE9JI P[ocIhI,JIEHUIJHgI[»DYDJGTnHULIH»J9K,FLhIaHLEHi»»LhIYHX[hIEUTFLWHIJcD[FIH\IFJG»GWIH\GEFI+LUIGHDYH6cGHUIHWDH:WDFDHLEHILEIEHhIT»IETFLTK,IE N[TFDEUHUIJH,9,Y[EhH[EUH-IJ4D,JWGT[EhH+IJTIFpFH,DFFI7H\LK,H,DFFIHYI,JHUDTHFJD[JLhIHQDK,T»LIWHcIJi,JFaHUDTHTLK,HEDK,HUIYHqK,ILFIJEHUIJ JI+GW[FLGE9JIEHIJ9[YIHDEHUIJHqiUT»LFpIH,DFILEDYIJLZDTHILEhITFIWWFH,DFFI7 SLIHZ[JpIH-GWZToITF^O[»,GJLIHPWWIEUITH4DJH[EFIJHUIEHqFLIoIWEHUIJHPJYIIHW9EhTFHpIJUJiKZFH4GJUIEaHDWTHLK,HLYHVLEFIJH7>=8HULIH:JGU[ZFLGEHUIJ bIJETI,UGZ[YIEFDFLGEHgPWWIH\DK,FHUIEHqGWUDFIEnHD[oED,Y7H\LFHmIEI,YLh[EhH:LEGK,IFTH,DFFIHLK,HDYHK,LWIELTK,IEHQDFLGEDWoILIJFDhHULIH:DJDUI LEH:[EFDHPJIEDTHoLWYIEHZlEEIE7HSLIHTFDFFWLK,IH:JG+LEp,D[»FTFDUFHWLIhFH[EYLFFIWcDJHDEHUIJH\DhIWWDE^qFJD|IaHULITIJHIEhIEH:DTTDhIHp4LTK,IE
PFWDEFLZH[EUH:DpLoLZ7 RK,H4IL|HELK,FaH4IWK,IH\LWLF9JcI,lJUIHYLJHULIH[E+IJ,GooFIHmIEI,YLh[EhHIJFILWFIaHD[oHUIJHK,LWIELTK,IEHVITF,9WoFIH+GEHbI[IJWDEUHUDT mIoDEhIEIEWDhIJHD[op[T[K,IEaH4GHULIH:JGYLEIEpHUITHhITFiJpFIEHPWWIEUI^6IhLYITH;HqGpLDWLTFIEH[EUH]GYY[ELTFIEH;HLE,DoFLIJFH4DJ7HSLI ※GWpcDJDKZIEH,LEFIJHqFDK,IWUJD,FaHULIH,G,IEHVDK,FiJYIH4DJIEHoiJHYLK,HZILEIH[EhI4G,EFIH][WLTTI7HSLIHlUIH8[TK,WDEUTK,DoFH4LJZFIHcITGEUIJT UITGWDFHDEHULITIYHZi,WIEaHEIcWLhIEHIDhHUITHP[TFJDW^qGYYIJT7HVLIHUI»JLYLIJIEUHY[|FIHUIJHP[oIEF,DWFHLEHULITIJH※DoFDETFDWFHIJTFHTILEaH4IEE ULIHIEUWGTIHSiTFIJELTHUITHP[TFJDW^VLEFIJTHD[oHUIEHmIYiFIJEHWDTFIFI_ SLIH,DhIJLETDTTIEH4DJIEHTFJIEhHULTpL»WLELIJFHLEH6IL,H[EUHmWLIUHDEhIFJIFIEaH[EUHLK,Hoi,WFIHYLK,HELK,FHTGEUIJWLK,7HSDTH]DYIJDFIDYH4DJHp[ ULITIYHP[ToW[hHhDJHELK,FHp[hIWDTTIEH4GJUIE7HQDK,HILEIJHVILWIHWGKZIJFIHTLK,HULIHPFYGT»,9JIHIF4DTHD[o7HRK,HIJZDEEFIHULIHmITLK,FIJHILELhIJ cITGEUIJTH»JGoLWLIJFIJHbi,JIJHUIJHhITK,ILFIJFIEH,LEZTZGDWLFLGE7H\LFHUIYHmIEIJDWTIZJIF9JHUIJH]GYY[ELTFLTK,IEH:DJFILHC,LWITaH,[LTHCGJ+DWbEa ZGEEFIHLK,HILEH»DDJHVGJFIH4IK,TIWEaH[EUHIJHpILhFIHYLJH,ILYWLK,HILEIEHoWDK,IEHqFILEaHD[oHUIEHIJaHUIJHDF,ILTFLTK,IH\DJ5LTFaHULIH,ILUIETpihI C,JLTFLHYLFHUIJHSGJEIEZJGEIHILEhIJLFpFH,DFFI7HSIYHIEhIEHPWWIEUI^-IJFJD[FIEH,IHIIWWLIJHhIWDEhHITHTGhDJaHYLFHp4ILHq9FpIEHD[oHILEHmIULK,FH:DcWG QIJ[UDTHp[H+IJ4ILTIEaHUDTHUIEHILFIWHgSIJHTGWLUDJLTK,IHOEhIWnHFJ[h7 EYLFFIWcDJHEDK,HYILEIJH6iKZZI,JHLEHULIH※D[»FTFDUFH,DcIHLK,HYLJHUIEHII5FHULITITH:GIYTHcITK,DooF7HgOJaHUIJHOEhIWnaHTGH,LI|HITHUDa gcITK,iFpFIHYLK,H+GJHUIJH\I[FIaHULIHYLK,H,D|FIaH+GJH‽IEIEaHULIHLEHUIEHqFJD|IEHUITH-IJcJIK,IETH‽G,WIEUH4DJFIFIEHD[oHYILEH8W[F7nH;HSLI YILTFIEH,DhIJLETDTTIEH+GEHbI[IJWDEUHTGWWFIEHEDK,Hp9,IEHLEFIJEDFLGEDWIEH-IJ,DEUW[EhIEHYLFHUIJH\LWLF9J‽[EFDHoJILhIWDTTIEH[EUHLETHO5LWH+IJcDEEF 4IJUIE7HSIYH[EhWiKZWLK,IEH,IHIIWWLIJH,DFH‽IUGK,H4IUIJHULITIJHmEDUIEDZFHEGK,HULIHPEJ[o[EhHTILEITHqK,[FpIEhIWTHhI,GWoIE7HQDK,HTILEIJ P[T4ILT[EhH,DFFIHIJHTILEIHPhLFDFLGEHhIhIEHUDTH:LEGK,IF^6IhLYIHLEHQI4HXGJZHoGJFhITIFpFaH[EUHUGJFHFJDoHL,EHULIHYlJUIJLTK,IH][hIWHILEIT P[oFJDhTZLWWIJT7 8I+GJHLK,HUDYDWTHLEHUIEH※[cTK,JD[cIJHZWIFFIJFIH[EUHUIJHRETIWHbI[IJWDEUHUIEH6iKZIEHZI,JFIaH4DJIEHULIH※9oFWLEhIHEGK,HILEYDWHLYH]DJJII DEhIFJIFIEaH[YHULIHK,LWIELTK,IHQDFLGEDW,›YEIHDEp[TFLYYIE7HqLIHFDFIEHUDTHYLFHREcJ[ETFH[EUH8IhILTFIJ[EhaHIEF,LIWFHUGK,HUIJHqK,W[|+IJTHILEIE »DF,IFLTK,IEH※LE4ILTHD[oHL,JIHILhIEIH»JIZ9JIHqLF[DFLGE7H5cIJHULIH\DhIWWDE^qFJD|IH;HhDJHELK,FHTGH4ILFHIEFoIJEFH+GYH8IDhWI^]DEDWaHUIEHLK, UJIL|LhHXD,JIHT»9FIJHDEH8GJUHUIJHgmJIhGJ›H\IZI‽I4nH»DTTLIJIEHTGWWFIaH,DWWFIHUIJHFJGFpLhIH6IoJDLE‼HgETIJH-DFIJWDEUHC,LWIaHS[H4LJTFHULIHN[oW[K,F DWWIJHbJILIEHTILEHGUIJHUDTHmJDcHUIJHEFIJHUJiKZIJH]HWDHF[YcDHTIJbTHUIHWGTHWLcJITHGHIWHDTLWGHKGEFJDHWDHG»JITLdE‾n
PYHqFJDEUHUIJHqK,4ILEIc[K,F qK,4ILEIc[K,FH_][cD`aHLYHbIcJ[DJHdee> -GEHILEIYHP[ToW[hHEDK,Hm[DEFbEDYGHLTFHYLJHWIc,DoFHDchIJDFIEH4GJUIE7HSLITIJHDYIJLZDELTK,IHqFiFp»[EZFHLYH9[|IJTFIEHMTFIEH][cDTaHUIJ ILEIEHTGHTLELTFJIEH6[oH,DFaHTILH4ILFJ9[YLhHDchIT»IJJFaH[EUH+GEHZ[cDELTK,IYHmIcLIFHD[TH49JIHELK,FHILEYDWHILEHP[TcWLKZHD[oHULIH8DJDKZIEH[EU ]9oLhIHUIJHUGJFHLE,DoFLIJFIEHgIIJJGJLTFIEnHp[HIJ,DTK,IE7HqGH,DcIHLK,HYLK,HoiJHILEHDEUIJITHNLIWHIEFTK,LIUIEaHUITTIEH,LTFGJLTK,IJH8IUI[F[EhHTLK, ULIH4IELhTFIEHIJLEEIJEHUiJoFIEaHGc4G,WHUIJHZ[JLGTIHQDYIHg8D,cDHUIHWGTHCGK,LEGTnHGUIJHgqK,4ILEIc[K,FnHTLK,HILE»J9hIEHTGWWFI7 PYH7=7HP»JLWH7>87H4DJH,LIJHUIJH-IJT[K,HVDT,LEhFGETHhITK,ILFIJFaHULIHTGpLDWLTFLTK,IH6I+GW[FLGEaHULIHbLUIWHCDTFJGHZD[YHUJILHXD,JIHp[+GJ D[ThIJ[oIEH,DFFIaHU[JK,HILEIH+GEHUIJHCRPHLEFIETL+aHDcIJHULWIFFDEFLTK,HhI»WDEFIHRE+DTLGEHD[THUIEHPEhIWEHp[H,IcIE7HPEHUIJH][cDZJLTIH+GE MZFGcIJH7>8dHhIYITTIEaHDWTHULIHcILUIEHq[»IJY9K,FIHUITH]DWFIEH]JLIhITHEDK,HqFDFLGELIJ[EhHTG4‽IFLTK,IJH6DZIFIEHD[oHUIJHN[KZIJLETIWHDYH6DEU ILEITHPFGYZJLIhITHTFDEUIEaHYDhHULIH,DEU[EhH+GEH79eeHO5LWZ[cDEIJEHDYHqFJDEUH+GEHmLJdEH4LIHILEIHcIWDEhWGTIHO»LTGUIHIJTK,ILEIE7 R,JIHQDK,4LJZ[EhIEHUiJoIEH‽IUGK,HELK,FH[EFIJTK,9FpFH4IJUIE7HSIYHIWIYIEFDJIEH5cIJWIcIETLETFLEZFHC,J[TK,FTK,G4TH[EUHXG,EHb7H]IEEIU›T 4DJHITHp[H+IJUDEZIEaHUD|HITHcILYHZ[cDELTK,IEH6DZIFIE^:GZIJHELK,FHp[JHE[ZWIDJIEHP»GZDW›»TIHZDY7HqFDFFHUITTIEH4[JUIEHUDYDWTHp4LTK,IE VDT,LEhFGEH[EUH\GTZD[HULIHq»LIWJIhIWEHILEITH]GY»JGYLTTITaHILEH-IJ,DWFIETZGUI5H+IJILEcDJFaHUIJH‽IUIJH[EZGEFJGWWLIJFIEHP[T4ILF[EhHGUIJ -IJTK,9Jo[EhHUITH]GEoWLZFTHp4LTK,IEHMTFH[EUHVITFH»J9pLTIHmJIEpIEH+GJTK,JLIc7HSDTHbLDTZGHUIJHDYIJLZDELTK,IEHREFIJ+IEFLGEHDEHUIJ qK,4ILEIc[K,FH4LJZFH,LEhIhIEHWDEhoJLTFLhHEDK,7 SIJH+GEHOLTIE,G4IJHhI»WDEFIH[EUH+GEH]IEEIU›HWILK,FoIJFLhHDZFL+LIJFIH5cIJoDWWaHUIJHTLK,H;HLEHTFJ9oWLK,IJHEZIEEFELTHUIJHUDYDWTHEGK, [EhIcJGK,IEIEH6I+GW[FLGETcIhILTFIJ[EhHUIJH8I+lWZIJ[EhH;HD[oHILEIHZ[cDELTK,IH\DTTIEIJ,Ic[EhHhIhIEHbLUIWHTFiFpIEHTGWWFIaH4DJHIcIETG cWDYDcIWHhITK,ILFIJFH4LIHDWWIHDEUIJIEH-IJT[K,IHUIJHCRPaHUIEH\b5LYGH,cUIJHU[JK,H+IJhLoFIFIHNLhDJJIEH[EUHDEUIJIHqK,IJpDJFLZIWHLETHXIETILFTHp[ cIolJUIJE7HPETGETFIEH4DJHITHUIYHDYIJLZDELTK,IEHmI,ILYULIETFH[EUHUIEH+GEHL,YHoLEDEpLIJFIEHCGEFJD^mJ[»»IEHLYYIJH4LIUIJHhIW[EhIEH;HTIL ITHLEHm[DFIYDWDaHLEHOWHqDW+DUGJaHLEHQLKDJDh[DaHLEH]GW[YcLIEaHLEHJ[h[D›aHLEHC,LWIH;aHILEHPchWILFIEHULITIJHqFDDFIEHLETH,DhIJHUITHJDULZDWIE qGpLDWLTY[THp[HZGEFIJZDJLIJIEHGUIJHLYH]ILYHp[HIJTFLKZIE7 PcIJHD[oH][cDH,DFHILEHYLFH\GTZD[H»DZFLIJIEUIJHN4IJhTFDDFH+GEHpI,EH\LWWLGEIEH\IETK,IEHUIYGETFJLIJFaHUD|HD[oT9TTLhIH,DFLEGTaHULIHE[J U[JK,HILEIHTK,YDWIH\IIJIEhIH+GEHUIEHgOTFDUGTHELUGTHUIWHQGJFInH[EUHUIJIEH[EhI,I[JIYH6iTF[EhTDJTIEDWHIEFoIJEFHWIcIEaHcIJILFH4DJIEaHILE ,DWcITHXD,J,[EUIJFHWDEhHUIEHqDEZFLGEIEH[EUHOLETK,iK,FIJ[EhIEHUIJH4ILFHicIJWIhIEIEHgXDEZIITnHTFDEUp[,DWFIEH[EUHTGhDJHp[JHP[T4ILF[Eh UIJH»JGWIFDJLTK,IEHVIWFJI+GW[FLGEHTFDJZIHIJ[»»IEZGEFLEhIEFIH+GEHgREFIJEDKLGEDWLTFDTnHLEHYI,JIJIH,IL|H[YZ9Y»oFIHqFDDFIEHPoJLZDTHp[ IEFTIEUIE7 \DEK,ITHIJLEEIJFHD[oH][cDHDEHULIHI,IYDWLhIHSS6aH4LIHYLJHYILEHmIo9,JFIHUGH※DDTIHcITF9FLhF7HqILFHYILEIYHWIFpFIEHP[oIEF,DWFHLEH※D+DEED +GJHILEIYH-LIJFIW‽D,J,[EUIJFH,DFHTLK,HDEHUIYHFJDhLTK,IEH-IJoDWWHUITHILETFLhIEH:J[EZTFiKZTHT»DELTK,IJH]GWGELTDFLGEH4IELhHhI9EUIJF7HOLE :GWLpILTFDDFHLTFHULITITHgTGpLDWLTFLTK,IH\GUIWWnHIcIEoDWWTHhIcWLIcIEaHD[K,H4IEEHTLK,H‽IUIJH-IJhWILK,HYLFHUIYHT[JJIDWLTFLTK,HDEY[FIEUIE mJl|IE4D,EH[EUH:IJTGEIEZ[WFHQGJUZGJIDTH+IJcLIFIF7HSLIH-IJTGJh[EhHUIJH8I+lWZIJ[EhHYLFH,IcIETYLFFIWEHJILK,FHD[TaH[YHp[HicIJWIcIE7HPcIJ ULIHLEUL+LU[IWWIEH6DFLGEIEaHULIHLEH-IJTGJh[EhT,IoFIEHDchITFIY»IWFH4IJUIEaHWLIhIEH4ILFH[EFIJHUIYHQL+ID[aHUDTHUDTHSJLFFIH6ILK,HEGK,HcLTHp[Y OEUIHUITH]JLIhITHTILEIEHD[ThIcGYcFIEHEFIJFDEIEHcLIFIEHZGEEFI7 5cIJJDTK,IEUHhJG|HLTFHULIHND,WHUIJH4ITFWLK,IEHIG[JLTFIEHD[oHUIJH]DJLcLZLETIWaHYILTFH]DEDULIJH[EUHSI[FTK,I7HbiJHq^8iJhIJHLTFHUDTH+GE VDT,LEhFGEH+IJ,9EhFIHOLEJILTI+IJcGFH4ILFIJ,LEHLEH]JDoF7HPcIJHITHpILhIEHTLK,HcIJILFTHULIHIJTFIEH6LTTIHLYHq›TFIY7HV9,JIEUHITHoiJHUIEHEGJYDWIE ][cDEIJHD[|IJ,DWcHUIJHYDhIJIEH6DFLGEIEH»JDZFLTK,HELK,FTHp[HZD[oIEHhLcFaHTFI,IEHUIEHJWD[cIJEHJILK,,DWFLhHD[ThITFDFFIFIHSI+LTIEW9UIEHp[J -IJoih[Eh7
SDTHQIcIEILEDEUIJH+GEHp4ILHV9,J[EhIEaHILEIH4IJFWGTIHgYGEEDLIHUIHTLEhInHoiJHULIHOLE,ILYLTK,IEH[EUHILEHD[oHSGWWDJH[EUHO[JG D[ThIJLK,FIFIJH:ITGHCGE+IJFLcWIHoiJHULIH»JL+LWIhLIJFIEHbJIYUIEHY[|Hp4DEhTW9[oLhHUIEH5cIJUJ[|HDEHUIYHILhIEIEaH,GK,hI»JLITIEIEHq›TFIY TFILhIJE7HSLIHPE,9EhIJHCDTFJGTH,9FFIEHUGK,HhIJDUIHLEHUIJH‽IFpLhIEH:,DTIHILEITHhWGcDWIEHQLIUIJhDEhTHUITH]D»LFDWLTY[THULIHC,DEKIHhI,DcFa LUIGWGhLTK,HD[op[FJ[Y»oIEH[EUHD[oHULIHDEhIcWLK,IEHVG,WFDFIEHL,JITHTGpLDWLTFLTK,IEHq›TFIYTHp[H+IJ4ILTIE7HqFDFFHUITTIEH»J9TIEFLIJFHTLK,HUDT oI,WhIWILFIFIHO5»IJLYIEFHUITHZDJLcLTK,IEH\DJ5LTY[THDWTHZW9hWLK,IJH\L|IJoGWhaHDWTHIJc9JYWLK,IH\DEhIW4LJFTK,DoF7 bDTpLELIJFHcWLKZIEHULIHIG[JLTFIEHD[oHULIHDWFIJFiYWLK,IEH,LYG[TLEIEHUIJH»J9JI+GW[FLGE9JIEHO»GK,IH;H8[LKZTaHC,I+JGWIFTaHTGhDJHCDULWWDKTHD[T UIEHoiEopLhIJHXD,JIEH;aHUIJIEHY9K,FLhIH]DJGTTIJLIEHU[JK,HTF9EULhIH6I»DJDF[JIEHILEIHcIhJIEpFIHbD,JFiK,FLhZILFHcI4D,JIEH[EUHTLK,HoiJ »J9K,FLhIHqG[+IELJoGFGTHILhEIE7HREThITDYFHo9WWFHLEHULITIYHI5GFLTK,IEH-GJ»GTFIEHILEIJH[FG»LTK,IEHVIWFJI+GW[FLGEHULIHY[EFIJIHbJI[EUWLK,ZILFa DcIJHD[K,HULIHW9TTLhIH6ITLhEDFLGEHILEIJHJDTTLTK,HFGFDWH+IJYLTK,FIEH8I+lWZIJ[EhHD[oaHULIH;H4LIHmLGEGHTDhIEH4iJUIH;HLEHILEIJHLEFIETL+ D[ThIWIcFIEHqI5[DWLF9FHUDTHg8JGFHUIJHPJYIEnHT[K,F7 SIJHT»DELTK,IEHPWFTFDUFH+GEH※D+DEEDHZ9YIHUIJHYGJcLUIaHYIWDEK,GWLTK,IHC,DJYIH+IJY[FWLK,HTK,EIWWHDc,DEUIEaHoDWWTHTLK,HILEITHIDhITHULI IGJIHoiJHILEIEH[EcIhJIEpFIEHN[TFJGYH+GEHXDEZIITHD[THUIYHQGJUIEHlooEIEH4iJUIE7HSDEEH4iJUIEHULIHoD[WLhIEaHYGJTK,IEH\D[IJEH[EFIJ hJIWWIYH:[FpH+IJTK,4LEUIEH[EUHTK,JILIEUHc[EFIH:WDZDFIHUIJHVIJcILEU[TFJLIHILEHi»»LhITH]GET[YDEhIcGFH+GJF9[TK,IE7 ? \LJHLTFHELK,FHIEFhDEhIEaHUD|HLK,Hp[H‽IUIYHNILF»[EZFH[EFIJH8IGcDK,F[EhHUIJHqLK,IJ,ILFTGJhDEIHTFI,IaHUD|H[ETIJH※GFIWHqDJDFGhDaHUDT [EYLFFIWcDJHD[oHULIHhLhDEFLTK,IH][»»IWHUITHCD»LFGWTHcWLKZFH[EUHLEHhJDEULGTIYH]GWGELDWTFLWHJITFD[JLIJFH4[JUIaHTK,DJoHcI4DK,FHLTF7HP[K,H[ETIJI bD,JFHp[JHqK,4ILEIc[K,FaHULIHG,EIH‽IUIH8IW9TFLh[EhHGUIJHTLK,FcDJIH]GEFJGWWIHicIJHILEIHhI»oWIhFIHPT»,DWFTFJD|IH+IJW9[oFaH4LJUHJIhLTFJLIJF7HP[o ULITIJH»WDFFIEHqFJIKZIH+GEHIF4DHp4IL,[EUIJFH]LWGYIFIJEaHULIH+GEHN[KZIJJG,J^H[EUHMcTF»WDEFDhIEHhIT9[YFHLTFH;HILEIEHhI»oWIhFIEHOLEUJ[KZ YDK,FHULIH,LITLhIH,DEU4LJFTK,DoFHELK,FH;aHhLcFHITHELK,FTHP[oo9WWLhITHGUIJHhDJHmI,ILYELT+GWWITHp[HIEFUIKZIE7 SDTHI,IYDWLhIHqK,WDK,FoIWUHDEHUIJHqK,4ILEIc[K,FHLTFHp[HILEIJHPJFHSLTEI›WDEUHD[ThIcD[FH4GJUIE7HOLEH:DEpIJH[EUHILEIH]DEGEIHDEFLZIJ TG4‽IFLTK,IJH8D[DJFHIJLEEIJEHUDJDEaHUD|HULIHUDYDWTHEGK,HJIK,FHcITK,ILUIEIEHqFJILFZJ9oFIHbLUIWHCDTFJGTaHU[JK,H-IJJ9FIJHhI4DJEFaHcIJILFTHLE qFIWW[EhHhIhDEhIEH4DJIEH[EUHULIH,DEU[EhTcGGFIH[EFIJHZGEpIEFJLIJFITHbI[IJHED,YIEaHEGK,HcI+GJHULIHgCGEFJDTnHoITFIEH8GUIEH[EFIJHUIE bi|IEH,DFFIE7HREHILEIJHT[»IJYGUIJEHILEhIJLK,FIFIEHmDTFTF9FFIHTFI,FHILEHJILK,,DWFLhITHQD,J[EhTDEhIcGFHoiJHULIH8I+GJp[hFIEHcIJILFaHULIHicIJ P[TW9EUIJhIWUH+IJoihIE7HOLEHJLITLhITHmIY9WUIHLYHqFLWHUITHTGpLDWLTFLTK,IEH6IDWLTY[TH+IJ,IJJWLK,FHULIHIJoGWhJILK,IHPc4I,JHUIJHRE+DTLGE7 SLIH[EhWiKZTIWLhIEH]GEFIJJI+GW[FLGE9JIHcITD|IEHLYHP»JLWH7>87HELK,FHULIHhIJLEhTFIHC,DEKIaHILEIEHVDooIEIJoGWhHp[HIJJLEhIE7HqLIH4DJIEH+GE UIJHCRPHEDK,H,DJFIYHIJDLELEhHLEHQLKDJDh[DHWIULhWLK,HYLFHREoDEFIJLI4DooIEHTG4‽IFLTK,IJH:JGU[ZFLGEHD[ThITFDFFIFH4GJUIE7HPcIJHLY IEFTK,ILUIEUIEH\GYIEFH+IJ4ILhIJFIHL,EIEHXG,EHb7H]IEEIU›HULIHEFIJTFiFp[EhHUIJHqHPLJHbGJKIaHULIHUIJHPEhJLooTFJ[»»IHoITFHp[hITDhFH4GJUIE 4DJ7HSLIHicIJYiFLhIEHO5LWZ[cDEIJH4DJIEH+GEHVDT,LEhFGEHDEhITFLoFIFH[EUHUDEEHTK,Y9,WLK,HLYHqFLK,HhIWDTTIEH4GJUIE7HPEHMJFH[EUHqFIWWIHZDEE YDEHTLK,HE[JHUDJicIJH4[EUIJEaH4IWK,IJHqFJDFIhIHD[ThIJIK,EIFHULIH8D,cDHUIHCGK,LEGTHoiJHULITITH※LYYIWoD,JFTZGYYDEUGHD[ThIT[K,FH,DFFI7 PEHUIJHqiUoWDEZIHUITHUGJFLhIEHqFJDEUITH+GEHmLJdEHIJTFJIKZFHTLK,HILEH4ILFITHq[Y»o^H[EUH\GJDTFhIW9EUIaH4GHTLK,HWIULhWLK,HULIHPWWLhDFGJIEHLE L,JIYHOWIYIEFHoi,WIE7 8ILHUIEHLEHbWGJLUDHpD,WJILK,IEHCDTFJG^mIhEIJEaHULIHUGJFHN[oW[K,FH+GJHUIJH6I+GW[FLGEHhIT[K,FH,DFFIEaHTK,W[hHXG,EHb7H]IEEIU›aHUIYH\DEEaHUIE YDEHoiJHULITITHSITDTFIJH+IJDEF4GJFWLK,HYDK,FIaHE[EYI,JHcWDEZIJH※D|HIEFhIhIE7HSDTHmIJiK,FH4[JUIHELIH4LUIJWIhFaH4GEDK,HUIJHFlUWLK,I PETK,WDhHD[oHUIEH:J9TLUIEFIEHLEHSDWWDTaHUIEHYDEHZJDY»o,DoFHUIYHOLEpIWF9FIJH,IIH※DJ+I›HMT4DWUHDEp[WDTFIEHT[K,FIaH+GEH-IJTK,4lJ[EhTpLJZIWE IJcLFFIJFIJH[EUHIEFF9[TK,FIJHO5LWZ[cDEIJHLEHhI,ILYIJH]GY»WLpIETK,DoFHYLFHOWIYIEFIEHUIJHCRPHTI,JH»JGoITTLGEIWWHDEhIpIFFIWFH4[JUI7
bLUIWTHWIFpFIJH]DY»o VDJ[YHLK,HULIHqK,W[|cIFJDK,F[EhHULITITHEDK,HMpIDELIEHD[ThIJLK,FIFIEH]D»LFIWTHD[ThIJIK,EIFHD[oHULIH]DJLcLZ^RETIWH][cDH+IJWIhI_HSDTHSDF[Y T»LIWFHUDcILHULIHIEFTK,ILUIEUIH6GWWI7HSIJHbIcJ[DJHdee>H4LJUHLEH※D+DEEDHU[JK,Hp4ILHhJG|IHOJILhELTTIHicIJTK,DFFIF7HmDEpHGooIEH4LJUHicIJHUDT WDEhTDYIHSD,LETLIK,IEHbLUIWHCDTFJGTHULTZ[FLIJFaHUIJHEDK,HILEIYH,DWcIEHXD,J,[EUIJFH[EILEhITK,J9EZFIJHPWWILE,IJJTK,DoFHicIJHULIHN[KZIJLETIW ULIH,lK,TFIH-IJDEF4GJF[EhHcIJILFTHGooLpLIWWHDEHTILEIEH8J[UIJH6DG[WHUIWIhLIJFH,DF7H6DG[WaHUIJHp[WIFpFHDWTH-IJFILULh[EhTYLELTFIJHDYFLIJFIaHLTFH4ILF UD+GEHIEFoIJEFaHUDTHC,DJLTYDHTILEITH[YHoiEoHXD,JIH9WFIJIEH8J[UIJTHp[HcITLFpIE7HOTHoI,WFHL,YHD[K,HULIHFLIoIaHTIEFLYIEFDWIHN[EILh[EhaHULI LYYIJHEGK,H4ILFIHIILWIHUIJHZ[cDELTK,IEH8I+lWZIJ[EhaHLEHUIJH\[WDFFIEH[EUHQDK,oD,JIEHDoJLZDELTK,IJHqZWD+IEHYLFFWIJ4ILWIHILEIH;H4IEEHD[K, ZED»»IH;H\I,J,ILFHcLWUIEaHDEHUIEHYDhLTK,IEH6I+GW[FLGE9JHcLEUIF7 PWWIEH6iKZTK,W9hIEH[EUHbI,WIEFTK,ILU[EhIEHp[YHIJGFpH+IJoihFHbLUIWH4ILFIJ,LEHicIJHILEHhI4DWFLhITH:JITFLhI7HSDTHhLWFHELK,FHE[JHoiJH][cDa TGEUIJEHoiJHhDEpH,DFILEDYIJLZDaH4GHTIWcTFHTILEIHIEFTK,LIUIEIEHmIhEIJHLEHL,YHILEIEHQDK,oGWhIJH8GWc+DJTHGUIJH\LJDEUDTHcI4[EUIJE7HSIJHDWFIa FGUZJDEZIH\DEEaHUIJHTILEIH:DJFLTDEIE[ELoGJYHhIhIEHILEIEH+[Wh9JIEHXGhhLEhDEp[hHILEhIFD[TK,FH,DFaH4IK,TIWFHTF9EULhHTILEHSGYLpLWH[EUHYILUIF ULIH@ooIEFWLK,ZILF7 PcIJH4IEEHULITIJH\DK,FYIETK,HUDTHmIoi,WH,DFaHTILEH[ETK,ILEcDJIJHQDK,oGWhIJH6DG[WH4ILK,IHDWWp[HD[oo9WWLhH+GYHJDULZDW^JI+GW[FLGE9JIEHVIh DcaHUDEEH+IJELYYFHYDEHD[THUIYH]JDEZIEpLYYIJHTILEH4DJEIEUITHmJGWWIEaH[EUHUIJH8J[UIJHoihFHTLK,HUIEHVILT[EhIE7HPWTHULIH:J9TLUIEFLEEIE +GEHPJhIEFLELIEH[EUH+GEHC,LWIHEDK,H※D+DEEDHJILTFIEaH[YHULITIYH\GE[YIEFHWDFILELTK,IJH8IoJIL[EhH+GYHXGK,HUIJHgXDEZIITnHp[H,[WULhIEa Gc4G,WHTLIHL,YHLUIGWGhLTK,HELK,FHTGEUIJWLK,HED,ITFI,IEaHJDooFIHTLK,HUIJHJG[FLELIJFIHC,DJYI[JHEGK,HILEYDWHD[oH[EUHIJTK,LIEHTILEIE 8IT[K,IJLEEIEHYLFHILEIJHhILTFLhIEH[EUHZlJ»IJWLK,IEH,Ic,DoFLhZILFaHULIHL,YHZILEIJHYI,JHp[hIFJD[FH,9FFI7 SLIHPFYGT»,9JIHLEH※D+DEEDHIJLEEIJFHYLK,HcILHDWWIJHmIhIET9FpWLK,ZILFHUIJHIIY»IJDYIEFIH[EUH][WF[JIEHDEHULIHW9,YIEUIHqFLYY[EhaHULIHTLK, :IZLEhTHcIY9K,FLhFH,DFFIaHDWTH\DGHNIUGEhHLYHqFIJcIEHWDhH[EUHTILEHgP[oFJDhHUITH※LYYIWTnHIJWGTK,7HOWoHDYIJLZDELTK,IH:J9TLUIEFIEH,DFHbLUIW CDTFJGHicIJWIcFaHDcIJHTILFHUIYHWIFpFIEHbi,J[EhT4IK,TIWHLYHVIL|IEH※D[TH+GEHVDT,LEhFGEHD,EFH4G,WHULITIJHIJoD,JIEIH»GWLFLTK,IHSLEGTD[JLIJa UD|HLEHUIYHicIJY9K,FLhIEHQDK,cDJWDEUHYLFHUIJHRED[h[JDFLGEHUITHEI[IEH:J9TLUIEFIEH8DJDKZH※[TTILEHMcDYDHDYHde7HXDE[DJHdee>HILE »GWLFLTK,IJHOJUJ[FTK,aHILEIHTIETDFLGEIWWIHYZI,JHTFDFFhIo[EUIEH,DFaHULIHD[K,HoiJHULIHqFDcLWLF9FHTILEITHILhIEIEH6IhLYITH[EZDWZ[WLIJcDJIHbGWhIE
EDK,HTLK,HpLI,IEH4LJU7 OTH4DJH‽DHTGH+LIWHWILK,FIJaHhIhIEHILEIEH:J9TLUIEFIEH+GYHqK,WDhHmIGJhIHV7H8[T,THbJGEFHp[HYDK,IEaHUIJHTIWcTFHcILHUIEHILhIEIEH,DEUTWI[FIE DWTH]JLIhTFJILcIJH[EUH※I[K,WIJHLEH-IJJ[oHhIZGYYIEH4DJaHDWTHhIhIEHILEIEHWLcIJDWIEHbDJcLhIEHp[HbIWUIHp[HpLI,IEaHUIYHULIHhDEpIHVIWFHp[Hbi|IE WLIhFH[EUHUIJH;HTI,JH+LIWHTK,EIWWIJaHDWTHYDEHLEH※D+DEEDHIJ4DJFIFIH;HD[K,HhIhIEicIJH][cDHILEIHhJG|pihLhIH][JT9EUIJ[EhHDEUI[FIFH[EU GooIEcDJHD[oHULIHicIJoWiTTLhIEH8WGKZDUIYIF,GUIEHTILEIJH-GJh9EhIJH+IJpLK,FIEHYlK,FI7HOLEIHTGWK,IH,GKZIJ[EhH[EUH@ooE[EhH;HUDTHT»iJFIHUIJ IJYDFFIFIH8IoI,WT,DcIJHUIJHg8DJc[UGTnH;H4iJUIHTLK,HoiJHULIHqIWcTFcI,D[»F[EhHUITH+GEHL,YHIJJLK,FIFIEHN4DEhTJIhLYITH4ILFHEIhDFL+IJH[EU pIJTIFpIEUIJHD[TH4LJZIEHDWTHULIHIJYiUIEUIEH※D|FLJDUIEH[EUHULIHZWILEWLK,IEHVLJFTK,DoFTTK,LZDEIEaHLEHULIHTLK,HULIHQIGZGETIJ+DFL+IEH+IJJDEEF ,DFFIE7 qK,GEH,lJFHYDEHLEHVDT,LEhFGEaHUD|HUIEHLEHqPHWIcIEUIEH][cDEIJEH[EILEhITK,J9EZFIHP[TJILTIhIEI,YLh[EhIEHLEHL,JIHDWFIH※ILYDFHIJFILWF [EUHUIJH8IT[K,HL,JIJHbDYLWLIEDEhI,lJLhIEH‽IETILFTHUIJHqFJD|IH+GEHbWGJLUDHIJWD[cFH4iJUI7HPYHOEUIHILEIJHTGWK,IEHYDTTL+IE bDYLWLIE+IJILELh[EhaHILEIJHTGWK,IEHqL»»IE^q›YcLGTIaHZlEEFIHULIHcILHUIEH][cDEIJEHTFIFTHD[ThI»J9hFIH»DJDUG5IHN[EILh[EhHoiJHUIEH,IcIETTFLW UIJHXDEZIITH;HYDEHUIEZIHE[JHDEHULIH,ILUIETK,DoFHoiJHUDTH8DTIcDWW^q»LIWaHUDTHD[K,HCDTFJGHFILWFH;H4LIUIJHp[YHN[hIHZGYYIE7HSLIHPFFJDZFL+LF9F UIJH]GET[YhITIWWTK,DoFH4iJUIHILEHicJLhITHF[E7 PEUIJIJTILFTHTFIWWFHTLK,HULIHbJDhIaHGcHULIH[EFIJTK,4IWWLhH+GJ,DEUIEIH8I4[EUIJ[EhHUITHgPYIJLKDEH4D›HGoHWLoInHELK,FHZGY»IETLIJFH4LJUHU[JK, ILEIH[ED[o,DWFTDYIH][cDELTLIJ[EhH[EUH※LT»DELTLIJ[EhHbWGJLUDTaHULIHLEoGWhIHUIJHYDTTL+IEH:J9TIEpHhJG|IJHRYYLhJDEFIEZGWGELIEHcIJILFTH4ILF hIULI,IEHLTF7HSIJH[EhI,IYYFIHN[TFJGYH+GEHQI[ILE4DEUIJIJEHEDK,H@ooE[EhHUIJHq^mJIEpIEHZlEEFIHILEIHoGWhIETK,4IJIHIF,ELTK,^Z[WF[JIWWI YTK,LK,F[EhHp[h[ETFIEHUIJH,DFLEGTHEDK,HTLK,HpLI,IEaHILEIHg6IKGEB[LTFDnaHULIH,I[FIHcIJILFTHp4LTK,IEH6cGHmJDEUIH[EUH※[UTGEH6L+IJH[YHTLK, hJILoF7 SIJHTGpLDWLTFLTK,IHYTF[JpHD[oH][cDH,DFFIHcI4LJZFaHUD|HULIHDWWY9K,FLhIHMWLhDJK,LIHT»DELTK,IJHGUIJHcDTZLTK,IJHOLE4G,EIJaHUDTH,IL|FHTGWK,IJ JILEHI[JG»9LTK,IEHJT»J[EhTH;HTG4ILFHTLIHELK,FHD[T4DEUIJFIH;aHL,JIHI5ZW[TL+IaHoi,JIEUIH:GTLFLGEHILEci|FIH[EUHUIJHmWILK,cIJIK,FLh[EhaH‽DHUIJ 8I+GJp[h[EhHUIJHcLTWDEhH[EFIJ»JL+LWIhLIJFIEH8I+lWZIJ[EhTYI,J,ILFHUIJHbDJcLhIEH6IK,E[EhHFJDhIEHY[|FI7HSDcILHTFIWWFIHYDEHYLFHIF4DT -IJ4[EUIJ[EhHoITFaHUD|HULIHGcIJTFIHbi,J[EhTTK,LK,FaHp[YDWHULIHcILUIEHRUGWIHUIJHYDJ5LTFLTK,IEH6I+GW[FLGEaHUIJH4IL|IEHMcIJTK,LK,F DEhI,lJFIE7HSLIHbDYLWLIHbLUIWHCDTFJGTH4DJHIJTFH+GJHILEIJHmIEIJDFLGEHD[THUIYHT»DELTK,IEHPTF[JLIEHEDK,H][cDHD[ThI4DEUIJF7HSIJHDWTH\9JF›JIJ +IJI,JFIHC,IHm[I+DJDH4[JUIHDWTHqG,EHLcIJLTK,IJHOWFIJEHUIJHhI,GcIEIEH]WDTTIHLEHPJhIEFLELIEHhIcGJIE7 VLJUHE[EYI,JHEDK,HUIJHN4LTK,IE»,DTIHUITH8J[UIJTH6DG[WHILEH\[WDFFIHGUIJHILEHqK,4DJpIJHDEHULIHq»LFpIHUITHqFDDFITHFJIFIEaH4LIHUDTHUIY IF,ELTK,IEH:JG»GJpHUITHRETIWTFDDFITHIEFT»J9K,I_H-GEH6DTTLTY[THLTFHD[oH][cDHFDFT9K,WLK,HZD[YHIF4DTHp[HT»iJIEaHDcIJHITHY[FIFHTK,GEHILhIEDJFLh DEaHUD|HLEHUIYH\GYIEFaHUDHbLUIWHCDTFJGH;HqG,EHI[JG»9LTK,IJHOLE4DEUIJIJH;aHUIJHLEHTILEIJHPWWILE,IJJTK,DoFHicIJ4LIhIEUH+GEHUIJHELK,F4IL|IE 8I+lWZIJ[EhTYI,J,ILFHTILEIJH]DJLcLZ^RETIWHhIFJDhIEH4[JUIaHLYH8IhJLooHTFI,FaHUDTHNILFWLK,IHp[HTIhEIEaHLEHUIEHqPaHULIH[EW9EhTFHEGK,HDWTH※GJF JDTTLTFLTK,IJH-GJ[JFILWIH[EUHSLTZJLYLELIJ[EhHDEhI»JDEhIJFH4[JUIEaHILEH:J9TLUIEFHLETHVIL|IH※D[THhI49,WFH4LJUaHUITTIEH-DFIJHILEIY DoJLZDELTK,IEHQLWGFIE^qFDYYHD[TH]IELDHIEFTFDYYFH[EUHp[HDWWIYH5cIJUJ[|HEGK,HUIJHmWD[cIEThIYILETK,DoFHUITH:JG»,IFIEH\G,DYYIU DEhI,lJFI7
OLEHTK,4DJpIJH\ITTLDTHD[THqP SD|HUIEH-IJILELhFIEHqFDDFIEH+GEHPYIJLZDHLEHUIJHqF[EUIHTK,4IJTFIJH8IUJ9EhELTHULIHJIFFIEUIH※ILWThITFDWFH[EFIJHUIEHNihIEHILEITHPoJG^PYIJLKDE IJTFDEUaHUD|HULITIJH997H:J9TLUIEFH8DJDKZH※[TTILEHMcDYDH+GEHTILEIEH8I4[EUIJIJEHLEHDWWIJHVIWFH4LIHILEH\ITTLDTHhIoILIJFH4[JUIaHUI[FIFHD[oHILEI ,LTFGJLTK,IHVIEUIH,LEaHDEHUIJHhIYITTIEHUIJHPETK,WDhHD[oHUDTHVGJWUHIJDUIHCIEFIJH+GEH\DE,DFFDEHp[YHgoDLFHUL+IJTnHTK,J[Y»oF7 REHUIJH8IJ[o[EhHILEITHTK,4DJpIEHCLFLpIEH;HLEHVLJZWLK,ZILFH,DEUIWFHITHTLK,H[YHILEIEH\[WDFFIEH;Hp[YHqFDDFTK,IoH[EUHCGYYDEUIJLE^C,LIo GooIEcDJFHTLK,HILEIHTGpLGWGhLTK,IH6I+GW[FLGE7HRYHX[cLW9[YT‽D,JHC,DJWITHSDJ4LETHLTFHYDEH+IJT[K,FaH+GEHILEIJHhIEIFLTK,IEH\[FDFLGEHUIJ EGJUDYIJLZDELTK,IEHmITIWWTK,DoFTTFJ[ZF[JHp[HT»JIK,IEaHULIHIJTFHDYHPEoDEhHL,JIJHI+GW[FL+IEHVILFIJIEF4LKZW[EhHTFI,F7 -IJY[FWLK,H49JIHULITIJHTIETDFLGEIWWIHIF,ELTK,IHgCG[»HU6eFDFnHTGhDJHZED»»HhITK,ILFIJFH[EUHUIJHJI»[cWLZDELTK,IHmIhIEZDEULUDFHXG,EH\KCDLE ,9FFIHILEIEHTK,YDWIEH-GJT»J[EhHcI,D[»FIFaH4IEEHELK,FHULIH8DTLTHUITHbLEDEp^H[EUHVLJFTK,DoFTT›TFIYTaHD[oHUIJHULIHDEhIWT9K,TLTK,^ »JGFITFDEFLTK,IHqFDDFThJiEU[EhHUIJHqPHcLT,IJHJ[,FIaHLEHL,JIEHmJ[EUoITFIEHIJTK,iFFIJFH4GJUIEH49JI7HP[oHUIYH※l,I»[EZFHUIJH]JLTIHJILK,FIHIT ELK,FaHUD|HUIJHKDW+LELTFLTK,HhI»J9hFIH]D»LFDWLTY[TaHUIJHTLK,HDEoDEhTHLEH»[JLFDELTK,IJHqFJIEhIHIEFoDWFIFH,DFFIaHU[JK,HULIHYD|WGTIHmLIJHUIJ q»IZ[WDEFIEH[EUHUIEH+[Wh9JIEH※IUGELTY[THILEIJHEI[IEH]DFIhGJLIH+GEHmWiKZTJLFFIJEH+IJUJ9EhFH4[JUI7 qIWFTDYIHN[o9WWIHFJIFIEH,LIJHp[FDhI7HVILFHicIJHULIHmJIEpIEHUIJHqPH,LED[TH+IJcJILFIFHTLK,HILEHmIoi,WHUIJHOJWILK,FIJ[EhaH‽DHUIJHOJWlT[EhaHUD| ULIH+IJ,9EhELT+GWWIHAJDHUIJHRJJ[EhIEH[EFIJHmIGJhIHV7H8[T,Hp[HOEUIHhI,F7HSDJicIJH,LED[THZGYYFHULIH※GooE[EhHD[oaHUD|HPYIJLZDaHUDTHTILEIJ OJcTiEUIHUIJH6DTTIEULTZJLYLELIJ[EhHTGHT»IZFDZ[W9JHUIEH6iKZIEHZI,JFIaH4LIUIJHp[HUIEH,G,IEHRUIDWIEHUIJH\IETK,IEJIK,FIH[EUHUIJ \IETK,IE4iJUIHp[JiKZoLEUIFaHULIHULIHO[JG»9IJHEDK,HUIYHN4ILFIEHVIWFZJLIhHTGHUDEZcDJH[EUHcI4[EUIJEUHicIJEGYYIEH,DFFIE7 SLIHSIcDFFIHUDJicIJaH4IJH8DJDKZH※[TTILEHMcDYDH4LJZWLK,HLTFaH4IWK,IHbGJYH+GEHgK,DEhITnHIJHFDFT9K,WLK,HIJp4LEhIEH4LWWH[EUHZDEEaH4LJU DEUD[IJEH[EUH[E4ILhIJWLK,HDEH8JLTDEpHhI4LEEIE7HSLIHO[»,GJLIHLTFH+GJHILEIYHIJEiK,FIJEUIEHgcDKZWDT,nHELK,FHhIoILF7HSIJHcLpDJJIHVIJUIhDEha UIJH8DJDKZHMcDYDHUDp[HhIcJDK,FH,DFaHULIHIJUJiKZIEUIH,DTFHTILEITH-GJh9EhIJTHD[oHTLK,Hp[HEI,YIEaHULIHC,DEKIEH[EUHULIH6LTLZIEaHUIEIEHIJHTLK, D[TWLIoIJFaH4IJUIEHEGK,HhDEpIH,IhLGEIEH+GEH]GYYIEFDFGJIEaHmIGhJD»,IEH[EUH※LTFGJLZIJEHcITK,9oHFLhIE7HOTH49JIH+IJYITTIEaH,I[FIHTK,GE ]GEZW[TLGEIEH+GJ4Ihp[EI,YIE7 \DEHY[|HULIHqPHTILFHILEIYH,DWcIEHXD,J,[EUIJFHZIEEIEaHD[THUIJHNILFaHDWTHULIH6DTTIETIhJIhDFLGEHLEHUIEHSL5LI^qFDDFIEHFDFT9K,WLK,HEGK,HILEIJ P»DJF,ILUHhWILK,ZDYaH[YHUDTHV[EUIJH+GEHVDT,LEhFGEHLEHTILEIYHhDEpIEHP[TYD|Hp[HIJZIEEIE7H,›EUGEH87HXG,ETGEH,DFFIHULIHQDFLGEDWhDJUIa UDEEHTGhDJHULIHPJYIIHD[TTK,LKZIEHYiTTIEaH[YHULIHS[JK,TIFp[EhHTILEIJHCL+LW^6Lh,FT^mITIFphIc[EhH[YH7>8*HYDE[HYLWLFDJLHp[HIJp4LEhIE7 gRK,H,9FFIHELIHhIUDK,FaHUD|HUIJHIDhH8DJDKZHMcDYDTH‽IYDWTHZGYYIEH4iJUInaHTK,JILcFHUIJH]GW[YELTFHbJDEZH6LK,aHg[EUHLK,HZDEEHLYYIJHEGK, ELK,FHhWD[cIEaHUD|HITHTLK,H4LJZWLK,HIJILhEIFH,DF7nHOJH+IJUI[FWLK,FHUDTHDYH8ILT»LIWHUITH6IhLIJ[EhTTLFpITHVDT,LEhFGEHS7HC7aHUIJHTLK,Hp[JHNILFHUIJ VD,WHXG,EHb7H]IEEIU›THDWTHIJTFIHDYIJLZDELTK,IHmJG|TFDUFHYLFHicIJ4LIhIEUHTK,4DJpIJH8I+lWZIJ[EhH,IJD[TcLWUIFIaHG,EIHUD|HULITIHIF,ELTK,I 6IDWLF9FHILEIYHoWiK,FLhIEH8IT[K,IJHicIJ,D[»FHD[ohIoDWWIEH49JI7HgSJILH\GEDFIHEDK,HUIYHVD,WFDhnaHTGHTFIWWFIH6LK,HLYHXDE[DJHdee>H4ILFIJHoITFa
gcWILcFHULIHIDFTDK,IHZD[YHIJZW9JcDJaHUD|HUDTHDYIJLZDELTK,IH-GWZHULIH:J9TLUIEFTK,DoFHILEIYH‽[EhIEaHTK,4DJpIEH\DEEHDE+IJFJD[FIaHUIJHD[THUIY QLK,FTHp[HZGYYIEHTK,LIEH;H4,GHTIIYIUHFGHKGYIHG[FHGoHEG4,IJI7n N[JHbILIJHTILEIJHRED[h[JDFLGEHLTFH8DJDKZHMcDYDHULIH8D,ETFJIKZIH+GEH:,LWDUIW»,LDHEDK,HVDT,LEhFGEHhIoD,JIEaHULIH+GJHL,YHPcJD,DYH,LEKGWE cIE[FpFH,DFFI7HMcHIJHTLK,H4G,WHcI4[|FH4DJaHUD|HoiJHTILEHhJG|ITH-GJcLWUHULIHqZWD+IEcIoJIL[EhHILEIHp4ILFJDEhLhIH8IUI[F[EhHcITD|H[EUHUD|HIT L,YHcILYHI5FJIYH+IJW[TFJILK,IEH]JLIhHhIhIEHULIHqiUTFDDFIEHLEHIJTFIJH,LELIHUDJ[YHhLEhaHULIHOLE,ILFHUIJH‽[EhIEHQDFLGEHp[HJIFFIE_ REHpD,WWGTIEHNILF[EhTDJFLZIWEH4[JUIHMcDYDHDWTHgTK,4DJpIJH]IEEIU›nHhIoILIJFaHDcIJHULITIJHLEHO[JG»DHcIWLIcFITFIHDWWIJHDYIJLZDELTK,IE :J9TLUIEFIEH,DFHoiJHULIH5cIJ4LEU[EhHUIJH6DTTIEULTZJLYLELIJ[EhHZILEIJWILHRELFLDFL+IHIJhJLooIE7HVDJHIJHUGK,HLEHUIJHUDYDWLhIEHqLF[DFLGEHEGK,HD[o ILEHJIDZFLGE9JITH4IL|ITHqFLYYIE»GFIEFLDWHLEHSL5LI^,DEUHDEhI4LITIE7HE+IJYILUWLK,H4LJUH\DJFLEH,[F,IJH]LEhHLETHmIU9K,FELTHhIJ[oIEHYLFHTILEIJ :JIULhF‼HgRH,D+IHDHUJIDY‾nHPcIJHUDTHILEpLhIaH4DTHULITIHp[FLIoTFH[EFIJTK,LIUWLK,IEH6I»J9TIEFDEFIEHUIJHTK,4DJpIEH8I+lWZIJ[EhThJ[»»IH+IJILEFa LTFHULIHmIoD,JHUITH\I[K,IWYGJUITaHUIYH\DJFLEH,[F,IJH]LEhHcIJILFTHp[YHM»oIJHoLIWH[EUHULIH8DJDKZHMcDYDHTF9EULhH[YWD[IJF7 SIJHJT»J[EhHUITHTK,4DJpIEH\DEEITHLYHVIL|IEH※D[THhLcFHYDEK,ITH69FTIWHD[o7HSLIHIDFTDK,IHp[E9K,TFaHUD|HTILEH-DFIJHELK,FHIF4DHUIJ QDK,ZGYYIH+GEH4ITFDoJLZDELTK,IEHqZWD+IEH4DJaHULIHTLK,HLYYIJ,LEHD[oHILEIHWDEhIH:J9TIEpHLEHPYIJLZDHcIJ[oIEHZlEEIEaHTGEUIJEHUD|HIJHLY GTFDoJLZDELTK,IEH]IELDHDWTHoJILIJH\DEEHhIcGJIEH[EUHPEhI,lJLhIJHUITHELWGFLTK,IEH,[G^-GWZITH4DJaH,9FFIHcILED,IHILEIH-LIWpD,WHUIJ DWFILEhITITTIEIEHPoJG^PYIJLKDETHUD+GEHDchI,DWFIEaHULITIYHP[|IETILFIJaHULITIYHO5GFIEaHULITIYHQI4KGYIJHL,JIHqFLYYIHp[HhIcIE7 SIJHGooLpLIWWIEH8LGhJD»,LIHp[oGWhIH,DFHUIJHZIELDELTK,IHmJG|+DFIJHMcDYDTHDYHDEFLZGWGELDWLTFLTK,IEHP[oTFDEUHhIhIEHULIH8JLFIEHFILWhIEGYYIEa 4[JUIH+GEHUIEH]GWGELDW,IJJIEHLE,DoFLIJFH[EUHhIoGWFIJF7HSDHITHTLK,HUDcILHE[JH[YHULIH\D[^\D[^6I+GWFIH,DEUIWEHZDEEaHULIHLEHUIEHoiEopLhIJ XD,JIEHD[TcJDK,H[EUHUIJIEHQLIUIJZ9Y»o[EhHLK,HDEHMJFH[EUHqFIWWIHYLFIJWIcFIaHZGYYIEHcILHYLJHN4ILoIWHD[o7 SLIH\D[^\D[HJIZJ[FLIJFIEHL,JIHZWILEIEHIJ[»»TH+GEHSTK,[EhIWZ9Y»oIJEHE9YWLK,HD[TTK,WLI|WLK,HcILYH8DEF[^-GWZHUIJH]LZ[‽[aHUIJIE ILEUJ[KZT+GWWIJHPEoi,JIJH[EUHRET»LJDFGJHXGYGH]IE›DFFDHTLK,HEDK,HWDEhIJH-IJcDEE[EhHDWTHIJTFIJH:J9TLUIEFHUITH[EDc,9EhLhIEHqFDDFITH+GE QDLJGcLHU[JK,TIFpIEHTGWWFI7HSLIH,[GH,LEhIhIEH+IJ,LIWFIEHTLK,HUDYDWTH4LIH,I[FIHLEHDWFDEhITFDYYFIJHmIhEIJTK,DoFHhIhIEHULIHU›EDYLTK,IEH[EU D[oT9TTLhIEH]LZ[‽[7HVLIHUIYHD[K,HTILaHUIJHOLEp[hHMcDYDTHLETHVIL|IH※D[TH,DFHLEHhDEpHPoJLZDHILEIEHqF[JYHUIJH8IhILTFIJ[EhHD[ThIWlTFaH[EUHUIJ TK,4DJpIH:J9TLUIEFH4LJUHhDJHELK,FH[Y,LEZGYYIEaHUIEHQlFIEH[EUHVLJJIEHTILEITHhI»WDhFIEHJT»J[EhTZGEFLEIEFTHILEIHcI+GJp[hFI P[oYIJZTDYZILFHp[H4LUYIE7 P[THUIYHQDYIEH8DJDKZH※[TTILEHhI,FHILEUI[FLhH,IJ+GJaHUD|HTILEH-DFIJaHUIJHLYHicIJWLIoIJFIEHqFDYYITYLWLI[HD[ohI4DK,TIEH4DJaHUIJ Y[TWLYLTK,IEHmWD[cIEThIYILEUIHDEhI,lJFI7HOJH,DFFIHILEIHcIYIJZIET4IJFIHDZDUIYLTK,IH]DJJLIJIHU[JK,WD[oIEaHcI+GJHIJHDWTHEL+IJTLF9FTUGpIEF D[oH※D4DLLHULIHU[JK,H[EUHU[JK,H4IL|IH\[FFIJHMcDYDTHZIEEIEWIJEFIH[EUHI,IWLK,FI7HSDTHDJDcLTK,IHVGJFHg8DJDZnHLTFHYLFHgqIhIEHPWWD,TnHp[ icIJTIFpIEaH[EUHUIJHQDYIH※[TTILEHcIpLI,FHTLK,HD[oHUIEHOEZIWHUITH:JG»,IFIEH\G,DYYIUaHUIJH+GJH7YeeHXD,JIEHDWTH]9Y»oIJHUITHTK,LLFLTK,IE mWD[cIETp4ILhITHLEH]IJcIWDHUIEH\9JF›JIJFGUHIJWLFF7 SDJD[THWILFIEHYDEK,IHRJDEIJHDcaHUD|H-DFIJHMcDYDHqK,LLFHhI4ITIEHTILEHYiTTI7HSDHUDTHZGJDELTK,IH6IK,FHTLK,HDEHULIH»DFJLWLEIDJIHOJcoGWhIH,9WF [EUHUIEHQDK,ZGYYIEHILEITH\[TWLYHp4DEhTW9[oLhHLEHULIHLTWDYLTK,IHYYDHILEhWLIUIJFaH4iJUIHLYH:JLEpL»HUDTHP[TTK,ILUIEH+GEHULITIJ 4IWF4ILFIEHJIWLhLlTIEHmIYILETK,DoFHDWTHgLJFLUDnaHDWTHgJIUUDnaHDWTHPcoDWWH+GYH4D,JIEHmWD[cIEH+IJUDYYFH[EUHYLFHUIYHIGUHcITFJDoF7HqGH49JIHIT ELK,FHD[ThITK,WGTTIEaHUD|HUIJHEI[IHDYIJLZDELTK,IH:J9TLUIEFaHUIJHTLK,Hp[YHC,JLTFIEF[YHcIZIEEFaHUDTHNLIWHILEITHLTWDYLTK,IEHbDEDFLZIJTH4iJUI7 SLIHmIoD,JH‽IUGK,aHUD|HL,EHILEHJDcLDFIJH4IL|IJH6DTTLTFaHILEHQGTFDWhLZIJHUITH][^]W[5^]WDEHLETH-LTLIJHE9,YIaHLTFH4ITIEFWLK,HhJl|IJ7 SLIHOWFIJEHMcDYDTH,DcIEHTLK,HJIWDFL+HoJi,HhIFJIEEF7HSLIH4IL|IHDYIJLZDELTK,IH\[FFIJaHULIHD[TH]DETDTHTFDYYFIaH+IJWLI|HYLFHL,JIYHqG,E 8DJDKZHUIEHq^qFDDFH※D4DLLaH[YHILEIH,I,JF9FLhZILFHLEHREUGEITLIEHD[op[EI,YIEaH4GHTLIHILEIEH\DWDLIEH,ILJDFIFIaHUIJH4G,WHIcIEoDWWTHILEH\[TWLY 4DJ7HSIJHZWILEIH8DJDKZH4DJHUDYDWTHDK,FHXD,JIHDWFH[EUH+IJcJDK,FIHp4ILHXD,JIH;H+GEH7>8=HcLTH7>=eH;HLEHILEIJHTFDDFWLK,IEHqK,[WIHUITHhI,GcIEIE \IEFIEh^-LIJFIWTH+GEHXDZDJFD7HPWWIH8I,D[»F[EhIEaHULIHD[THTD[ULTK,IJHZ[IWWIHD[ThITFJI[FH4[JUIEaHUIJH‽[EhIHMcDYDH,DcIHLEHREUGEITLIEHILEI ]GJDETK,[WIHD[ohIT[K,FaH,DcIEHTLK,HDWTHoDWTK,HIJ4LITIE7 PcIJHD[TH‽IEIJHNILFHTFDYYFHULIHIK,FIHq›Y»DF,LIaHILEIHTIEFLYIEFDWIH8LEU[EhHp[HULITIYH+GWZJILK,TFIEHLTWDYLTK,IEHqFDDFH[EUHTILEIE OLE4G,EIJE7HREHTILEIJH,I,JDETFDWFH+GEHXDZDJFDaH4GHqK,iWIJHT9YFWLK,IJHOF,ELIEHUITHJLITLhIEHPJK,L»IWTH»JGcWIYWGTHYLFILEDEUIJHWIcFIEH[EUHUIJ \[WDFFIHg8DJJ›nH;H4LIHTLIHL,EHEDEEFIEH;HILEIYHJDTTLTK,IEHI›»[THIEFT»JDK,aHUIJHD[oHUIEH\GW[ZZIEHTFDJZH+IJFJIFIEHLTFaH4[K,THIJH»JDZFLTK,HDWT REUGEITLIJH[EFIJHREUGEITLIJEHD[oH[EUHIJWIJEFIHULIH,DEUITT»JDK,IHLYHQ[7 SIJHEI[IHqFDDFTK,IoHUIJHqPH+IJoihFHicIJHILEHLEFLYITH-IJTF9EUELTHUIJHZGJDELTK,IEH,I,JIH[EUH][WF[JaH+GEHUIJHTILEH-GJh9EhIJHELK,FHULI hIJLEhTFIHP,E[EhH,DFFI7HqIWcTFHULIHLTWDYLTFLTK,IEH:DJFILIEHREUGEITLIETHoi,WFIEHTLK,HU[JK,HULIH8IJ[o[EhHMcDYDTHhITK,YILK,IWFaHD[K,H4IEEHL,J mIEIJDWTIZJIF9JHPELTH\DFFDHoDTT[EhTWGTHJIDhLIJFI7HgRK,H,DcIHhJl|FIH\i,IaHYLJH+GJp[TFIWWIEnaHTGWWHIJHhITDhFH,DcIEaHg4LIHILEH\DEEaHUIJHp[J ※9WoFIH\[TWLYHLTFaHITHoIJFLhcJDK,FIaH+GEHUIJH\I,J,ILFHUIJHPYIJLZDEIJHhI49,WFHp[H4IJUIE7n REHTILEIJHP[FGcLGhJD»,LIHcIJLK,FIFHMcDYDHD[Toi,JWLK,HicIJHTILEIHcITGEUIJTHIEhIH8IpLI,[EhHp[HUIEHmJG|IWFIJEHYiFFIJWLK,IJTILFTaH+GJHDWWIY p[HTILEIJHmJG|Y[FFIJaHULIHIJHD[oHUIYH※l,I»[EZFHUITHVD,WZDY»oITHEGK,HDEHL,JIYHIGFIEcIFFHLEH※D4DLLHD[oT[K,FI7HREH]DETDTHhDWFHULITIT ZWILEciJhIJWLK,IHO,I»DDJHDWTH4IL|H[EUHDEhIWT9K,TLTK,7HPEhIcWLK,H4DJHILEHJ[JhJG|+DFIJHD[THRJWDEUHILEhI4DEUIJFaH[EUH+LIWWILK,FH+IJWLI,HULI JD[,IHZIWFLTK,IHPcTFDYY[EhHUIYHcJLWWDEFIEH,DWcTK,4DJpIEHP[oTFILhIJHULIHElFLhIHS[JK,TIFp[EhTZJDoFaHULIH6Gc[TF,ILFaHDcIJHD[K,HULI -IJTK,WDhIE,ILFaHULIHIJHTGHUJLEhIEUHcIElFLhFIaHDWTHIJHTLK,HcILYH»GWLFLTK,IEHOEhDhIYIEFHLYHSTK,[EhIWHUIJH[EIJcLFFWLK,IEH:DJFILIEWDEUTK,DoFH+GE C,LKDhGHcLTHp[JHViJUIHILEITHqIEDFGJTH+GEHRWWLEGLTHD[oTK,4DEh7HSIEH[EIEFcI,JWLK,IEH6iKZ,DWFH,DFFIHIJHTLK,HUGJFHcILHUIJHDoJGDYIJLZDELTK,IE EFIJTK,LK,FH+IJTK,DooFH[EUHhIEG|H+GJHDWWIYHULIHEFIJTFiFp[EhHILEITHILoIJEUIEHTK,4DJpIEH:JIULhIJTaHUIJH+GJH※D|FLJDUIEHhIhIEHULIHVIL|IE ELK,FHp[JiKZTK,JIKZFI7 SIJHbDWWHMcDYDHTFI,FHoiJHILEIHmI4LK,FT+IJWDhIJ[EhHLEHqPaHULIH4ILFHicIJHUDTHqK,LKZTDWHTILEIJH[EhI4l,EWLK,IEH:IJTlEWLK,ZILFH,LED[TJILK,F7 qILEHQDYIHZWLEhFH4LIHUDTHqLhEDWHoiJHILEHPYDWhDYH[EFIJTK,LIUWLK,IJH6DTTIEaHoiJHILEHY[WFLZ[WF[JIWWITH\DhYDaHUDTHULIHTK,JLFF4ILTIHYhITFDWF[Eh QGJUDYIJLZDTHDEUI[FIF7HOTHTLEUH‽DHELK,FHE[JHULIHPoJLKDE^PYIJLKDETaHUIJIEH:JGpIEFTDFpHTLK,HcILHIF4DHp4lWoH:JGpIEFHUIJHmITDYFcI+lWZIJ[Eh TFDcLWLTLIJFH,DFaHULIHTLK,HELK,FHW9EhIJHD[THUIEHqFDDFThITK,9oFIEHD[TTK,WLI|IEHWDTTIE7 SIJHN[TFJGYHWDFILEDYIJLZDELTK,IJHN[4DEUIJIJaH+GJHDWWIYHD[THUIYH+GYH8DEUIEZJLIhHUIJHSJGhIEYDoLDHD[ohI4i,WFIEH\I5LZGaH,DFHILEI »JGo[EUIHYTK,LK,F[EhHcI4LJZF7HSLIHT»DELTK,^LEULDELTK,IEH\ITFLpIEaHULIH※LT»DELKTaH,DFLEGTHGUIJHgq»LKTnaH4LIHTLIH+GEHUIJH+IJcLFFIJFIEH4IL|IE EFIJTK,LK,FHhIEDEEFH4IJUIEaHYDK,IEHYLFHTK,9Fp[EhT4ILTIHoiEopLhH\LWWLGEIEH\IETK,IEHcIJILFTHILEHqIK,TFIWHUIJHmITDYFcI+lWZIJ[EhHUIJHqP D[TaH[EUHL,JIHRYYLhJDFLGEH;HWIhDWHGUIJHLWWIhDWH;HELYYFHTF9EULhHp[7 SIJHEI[IH:J9TLUIEFHIY»oLEUIHD[ohJ[EUHTILEIJHY[WFLZ[WF[JIWWIEH-LFDH[EUHTILEIJHU[EZWIEH※D[FoDJcIHILEIHT»GEFDEIHPooLELF9FHp[HUIEHT»DELTK, GUIJH»GJF[hLITLTK,HhI»J9hFIEHqFDDFIEHUITHq[cZGEFLEIEFTaHTGHTGWWFIHTILEHP[oFJLFFHcILHUIJH]GEoIJIEpH+GEHIJLELUDUH[EUHIGcDhGHZGYYIEFLIJF
4IJUIE7HOLEIHUI[FTK,IHNILF[EhHTK,JIKZFIHELK,FH+GJHUIJHbITFTFIWW[EhHp[JiKZaHIJH»DTTIHghIJDUIp[HLUIDWF›»LTK,Hp[HUIYH6DTTIEZ[UUIWY[UUIWn ULITIJH6IhLGE7HSDJD[THIJhIcIHTLK,HULIHVLIUIJcIWIc[EhHILEIJHhIhIETILFLhIEHq›Y»DF,LIH[EUHILEIJH]GETGWLULIJ[EhHUITHEGJUDYIJLZDELTK,IE OLEoW[TTITH‽IETILFTHUITH6cGHmJDEUIaHUIJHLEHUIEHWIFpFIEHXD,JpI,EFIEHTGHTI,JHp[HqK,DUIEHhIZGYYIEH4DJ7 \DEHZDEEHULIHSLEhIH‽IUGK,HD[K,HD[THILEIJHhDEpHDEUIJIEH:IJT»IZFL+IHTI,IE7HQLK,FHULIHmJLEhGTHUITHQGJUIETH4iJUIEHDYHOEUIHULIHQ[FpELI|IJ ULITIJHIF,ELTK,^Z[WF[JIWWIEHPEE9,IJ[EhHTILEaHTGEUIJEH‽IEIHc[EFhITK,IKZFIHqFDDFIE4IWFaHULIHUIEHqPH4LJFTK,DoFWLK,Hp4DJH4ILFH[EFIJWIhIEHcWILcFa YLFH※LWoIHL,JITHUIYGhJD»,LTK,IEH5cIJhI4LK,FTH[EUHILEIJHEI[HIEF4LKZIWFIEHS›EDYLZH‽IUGK,HULIH8DWDEKIHp[HL,JIEHILhIEIEHm[ETFIEH+IJTK,LIcIE ZlEEFI7 SLIHmJIFK,IEoJDhIaHULIHULITTILFTHUITHPFWDEFLZTHDEHMcDYDHhIJLK,FIFH4LJUaHWD[FIFHcIJILFT‼HgVLIH,9WFTFHU[HITHYLFHO[JG»D_nHMcHIJHULIHDFWDEFLTK,I :J9oIJIEpH4ILFIJoi,JIEH4LJUaHoiJHULIHTLK,HTILEIHT9YFWLK,IEH-GJh9EhIJHIEFTK,LIUIEH,DFFIEaHGcHIJHO[JG»DHLETFLEZFL+HILEIH:JLGJLF9FHILEJ9[YIEH4LJUa ULIHcLTWDEhHUIJH,ILFoDUIEHDYIJLZDELTK,IJHP[|IEH»GWLFLZH4DJ_H8IJi,J[EhT»[EZFIHp[YHDWFIEH]GEFLEIEFH,DFHITHLEHTILEIYHC[JJLK[W[YH-LFDIHZD[Y hIhIcIEaH[EUH+LIWWILK,FH,DFHL,EHUIJH,IYY[EhTWGTIHX[cIWH+GEHdeeHeeeH8IJWLEIJEH+GJHUIJHqLIhITT9[WIHLYHILIJhDJFIEH9,EWLK,HcIoJIYUIFaH4LIHUDT DEhIcWLK,HcILHXG,EHb7H]IEEIU›HUIJHbDWWH4DJaHDWTHUITTIEHOJZW9J[EhHgRK,HcLEHILEH8IJWLEIJnHILEIEH8IhILTFIJ[EhTFD[YIWHD[TWlTFIaHUIJHILEIT 6ILK,T»DJFILFDhITH4iJULhH4DJ7 8I+GJHIJHp[HUIEHJIEGYYLIJFITFIEHEL+IJTLF9FIEHUIJHMTFZiTFIaHCGW[YcLDH[EUH※DJ+DJUHicIJ4IK,TIWFIaH,DFFIHIJHLYHMKKLUIEFDWHCGWWIhIHDY QGJUJDEUH+GEH,GTHPEhIWITHILEIHicIJD[THWLcIJDWIH8LWU[EhTTF9FFIHcIT[K,FaH4GH4IL|IaHTK,4DJpIaHDTLDFLTK,IH[EUH,LT»DELTK,IHPW[YELHLE cJiUIJWLK,IJHmIYILETK,DoFH][EUhIc[EhIEHhIhIEHULIHP»DJF,ILUHLEHqiUDoJLZDH+IJDETFDWFIFIEH[EUHg8DJJ›naH4LIHIJHD[K,HUGJFH,LI|aHULIHmIWIhIE,ILF +IJTK,DooFIEaHLYHbIcJ[DJH7>f7HTILEIHIJTFIH»GWLFLTK,IH6IUIHp[H,DWFIE7HPEHUIEHEL+IJTLF9FIEHUIJH»DpLoLTK,IEH]iTFIHUIJHqPH,IJJTK,FH4G,WHILEI cITGEUIJIH\IEFDWLF9FH+GJ7HVGHTGETFH49JIHUIEHqF[UIEFIEHILEIHSLTTIJFDFLGEHp[HUIYHI,IYDHDc+IJWDEhFH4GJUIE‼HgVLIH,DcIEH[EFIJTK,LIUWLK,I mITIWWTK,DoFIEHL,JIH-GJTFIWW[EhIEH+GEHmIJIK,FLhZILFH+GYHqDZJDWIEH[EUH+GEHUIJHVD,J,ILFHUIoLELIJF_nHSGJFH,DFFIEHTLK,HD[K,HULIHDTLDFLTK,IE OLE4DEUIJIJaHC,LEITIEH[EUHREUIJaHW9EhTFHLEHUIEHbi,J[EhTIcIEIEHUITH4LJFTK,DoFWLK,IEH\DEDhIYIEFTHU[JK,hITIFpFaH[EUHULIHqK,GWDJIEHD[THUIY 6ILK,HUIJH\LFFIHTK,WGTTIEHULIHcITFIEHO5DYIEHDc7 VIJHIJLEEIJFHTLK,H,I[FIHEGK,HUDJDEaHUD|H+GJHILEIYH,DWcIEHXD,J,[EUIJFHELK,FHE[JHULIHbDJcLhIEaHTGEUIJEHD[K,HULIH]DF,GWLZIEHLEHgmGU6THM4E CG[EFJ›nHDWTHYLEUIJ4IJFLhIaHGcTZ[JDEFLTFLTK,IHqGEUIJZDFIhGJLIaHDWTHg:D»LTFIEnHhITK,Y9,FH4[JUIE_HREp4LTK,IEHLTFHULIHJlYLTK,IH]LJK,IHYLF oiEopLhH\LWWLGEIEHmW9[cLhIEHp[JH4ILFD[THTF9JZTFIEHK,JLTFWLK,IEHSIEGYLEDFLGEHLEHqPHDEhI4DK,TIEaH[EUHZILEH:GWLFLZIJHZDEEHULITITHVD,W»GFIEFLDW LhEGJLIJIE7 P[K,HLEHUIJHgXI4LT,HCGYY[ELF›naHULIHIF4DHp4ILH:JGpIEFHUIJHDYIJLZDELTK,IEH8I+lWZIJ[EhHD[TYDK,FaH,DFHTLK,HILEIHhIJDUIp[H+IJcWiooIEUI Y49Wp[EhH+GWWpGhIE7HQLK,FHE[JHLEHUIEHqiUTFDDFIEH,IJJTK,FIH+GJHhDJHELK,FHWDEhIJHNILFHILEHD[ThI»J9hFIJHPEFLTIYLFLTY[TH+GJ7HqIWcTFHLEHUIE VLJFTK,DoFT^H[EUHREU[TFJLIpIEFJIEHUITHQGJUIETHhDWFIEHX[UIEHDWTHP[|IETILFIJaH,DFFIEHZILEIEHN[hDEhHp[HUIEHIWLF9JIEHgCG[EFJ›HCW[cTnaH4[JUIE TGhDJHLEHpD,WJILK,IEH※GFIWTHDWTH[EIJ4iETK,FIHm9TFIHDchI4LITIE7HYHTLK,HhIhIEHULIHIFDcWLIJFIEH»JGFITFDEFLTK,IEHmJG|cDEZIEHU[JK,TIFpIEHp[ ZlEEIEaHULIHTLK,HD[oHULIHKDW+LELTFLTK,IHOF,LZHcIJLIoIEaHFDFIEHTLK,HULIH‽iULTK,IEHbLEDEp[EFIJEI,YIEaHULIHYDEHD[oHcITK,ILUIEIYHQL+ID[H,DWFIE 4GWWFIaHI5FJIYHTK,4IJaH[YHDYHOEUIHL,JIH6L+DWIEHD[oHUIEHp4ILFIEH6DEhHp[H+IJ4ILTIE7 ※I[FIH+IJoihFHULIHLTJDIWLFLTK,IH\LEUIJ,ILFHLEHDWWIEH8IJILK,IEHUITHlZGEGYLTK,IEaHDcIJHD[K,HUITHLEFIWWIZF[IWWIEH,IcIETH[EUHUIJ 4LTTIETK,DoFWLK,IEHbGJTK,[EhHicIJHq»LFpIE»GTLFLGEIEH[EUHicFHILEIEH»GWLFLTK,IEHOLEoW[|HD[TaHUIJHUIEH]JLFLZIJEHUIJHgXI4LT,HWGcc›nHDcTGW[F ULT»JG»GJFLGELIJFH[EUH[EIJFJ9hWLK,HIJTK,ILEF7HP[oHUIYHY4IhHicIJHULIHcLcWLTK,IEH※ILWTIJ4DJF[EhIEaHULIHULIHmJiEU[EhHUITHqFDDFITHRTJDIWHcIL UIEH»JGFITFDEFLTK,IEHO+DEhIWLZDWIEH4IKZFIaH,DcIEHTLK,H»DJDUG5IJ4ILTIHhIJDUIH‽IEIHTIZFLIJIJLTK,IEHmIhEIJHUITHX[UIEF[YTHDWTHp[+IJW9TTLhTFI -IJciEUIFIHUITHNLGELTY[THIJ4LITIEH[EUHTFI,IEHUIJH‽I4ILWLhIEH6IhLIJ[EhH+GEHXIJ[TDWIYHoDTFHcIULEh[EhTWGTHp[JHqILFI7 SIEH]DTTDEUJDJ[oIEaHULIHD[THO[JG»DHicIJHUIEHPFWDEFLZHFlEIEH[EUHULIHUIEH-IJILELhFIEHqFDDFIEHILEIEH[ED[o,DWFTDYIEHPcTFLIhH+GJD[TTDhIEa 4LJUHGoFHIEFhIhIEhI,DWFIEaHUD|HUIJH:JGpIEFTDFpHUIJHO[JG»9IJHDEHUIJHmITDYFcI+lWZIJ[EhHUITHmWGc[THcLEEIEHJIWDFL+HZ[JpIJHbJLTFH+GEHp4DEpLh :JGpIEFHD[oH+LIJH:JGpIEFHhITK,J[Y»oFHTILH[EUHUD|HULIH5cIJoW[F[EhHUITHPcIEUWDEUITHU[JK,HDoJLZDELTK,IH[EUHGJLIEFDWLTK,IH\LhJDEFIEHULIHbGJY ILEIJH-lWZIJ4DEUIJ[EhHDEp[EI,YIEHUJG,I7HSIYHZlEEFIHILEIHEiK,FIJEIH[EUHUI»JLYLIJIEUIHPEDW›TIHUIJH-IJ,9WFELTTIHLEHUIJHQI[IEHVIWF IEFhIhIEhI,DWFIEH4IJUIE7 qDY[IWH※[EFLEhFGEaHUIJHU[JK,HTILEIHUiTFIJIEH:JGhEGTIEH+GYHCWDT,HGoHCL+LWLpDFLGETHcIJi,YFH4[JUIaH,DFHLEHTILEIJHWIFpFIEHqF[ULIHV,GHDJI 4I_HILEIEHcITK,4lJIEUIEHP»»IWWHDEHTILEIH4IL|IEH[EUH»JGFITFDEFLTK,IEH,DEUTWI[FIHhIJLK,FIFaHULIHIJHUIJHJDTTLTK,IEH[EUHZ[WF[JIWWIEHOJGTLGE D[ThITIFpFHTLI,F7HOJHJ[oFHTLIHUDp[HD[oaHUIYHq[cTFDEp+IJW[TFHYLFH+IJp4ILoIWFIJHOEIJhLIHIEFhIhIEp[FJIFIE7HOTH4DJH4G,WHILEHTK,LKZTDW,DoFIJHN[oDWWa UD|H※[EFLEhFGEHoDTFHhIED[HDEHUIYHIDhH+IJTFDJcaHDEHUIYHUIJHPoJGDYIJLZDEIJH8DJDKZH※[TTILEHMcDYDHIJZGJIEH4[JUIaHUDTHqK,LKZTDWH+GEHgmGU6T M4EHCG[EFJ›nHLEHTILEIH※9EUIHp[HEI,YIE7
gPHYDEHoJGYHEG4,IJIn VIWK,ITHLTFHULIH4D,JIH※ILYDFH8DJDKZH※[TTILEHMcDYDTaHULITITHgYDEHoJGYHEG4,IJIn_HOTHLTFHcITFLYYFHELK,FH]DETDTaH4GHL,YHULIHWLIcI+GWWI 4IL|IHmJG|Y[FFIJHhITFDEUaHUD|HTLIHTLK,HTIWcTFHDWTHZWILEITH]LEUHEGK,H+GJHUIYHgTK,4DJpIEH\DEEnHhIoiJK,FIFH,DcI7HOTHZDEEHD[K,HELK,FH]IELD TILEaHUITTIEHDoJLZDELTK,IHqFDYYIToI,UIEH4LIHD[K,HUDTH+GYHcJLFLTK,IEHOY»LJIH,LEFIJWDTTIEIHbWDLJHL,YHoJIYUHcWLIcIE7HREHUDTHMKKLUIEFDWHCGWWIhI +GEH,GTHPEhIWITaHLEHULIHOWLFI^PZDUIYLIEHUIJHMTFZiTFIaH,DFHIJHTLK,HDYHOEUIH4G,WHTGHIJoGWhJILK,HILEhIoihFaH4ILWHIJHELK,FHE[JHILEHcJLWWDEFIJ REFIWWIZF[IWWIJH4DJaHTGEUIJEHD[K,HILEHI5pIWWIEFIJHq»GJFWIJaHILEH,IJ+GJJDhIEUIJH8DTZIFcDWWT»LIWIJ7 SIEH6[oHUITHg4GEUIJHEIhJGnHLTFHIJHLEH※DJ+DJUHELIHWGThI4GJUIE7HREHC,LKDhGaH4GHIJHTILEIEH»GWLFLTK,IEHP[oTFLIhHIJp4DEhaH4DJHITHhI4L|HELK,F WILK,FaHoITFIEH8GUIEH[EFIJHUIEHbi|IEHp[HhI4LEEIEaHLEHULITIJHqFDUFaH+GEHUIJHqD[WH8IWWG4HTK,JILcF‼HgC,LKDhGHLTFHELJhIEU4G7HOTH,DFHZILEI mJ[EUWDhI7HOTHLTFHILEHOF4DTaHUDTHLYHDYIJLZDELTK,IEH6D[YHTK,4IcF7nH;HgC,LKDhGHp[HWLIcIEnaH,DFHILEHDEUIJIJHP[FGJaHQIWTGEHPWhJIE hITK,JLIcIEaHgZGYYFHUIJH,LIcIHp[HILEIJHbJD[HhWILK,aHULIHILEIHhIcJGK,IEIHQDTIH,DFH;HWLZIHWG+LEhHDH4GYDEH4LF,HDHcJGZIEHEGTI7n 8WILcFHDWTGHE[JH※D4DLLaH4GHMcDYDHUDTH,LK,FHUIJHVIWFHIJcWLKZFI7H※LIJHZI,JIEH4LJHp[HUIYHmJ[EUF,IYDHp[JiKZaHUIYHULITITH]D»LFIWHicIJHULI [EFIJTK,LIUWLK,TFIEHbDKIFFIEHMpIDELIETHhI4LUYIFHLTF7H※LIJHTK,WLI|FHTLK,HILEH]JILT7HSIJH:DpLoLTK,IHMpIDEHFJLFFH4LIUIJHLEHUIEH-GJUIJhJ[EUHYLF TILEIJH,IJGLTK,IEHqDhDH[EIJYiUWLK,IJHOEFUIKZIJH[EUHqIIoD,JIJ7HSIJHcIUI[FIEUTFIH+GEHL,EIEaHXDYITHCGGZaHLTFHcILHTILEIJH+IJhIcWLK,IEHq[K,I
EDK,HILEIJHQGJU4ITF»DTTDhIHI,IJHp[o9WWLhHD[oHULITIHRETIWhJ[»»IHhITFG|IEaHULIHYDEHp[E9K,TFHDWTHqDEU4LK,^PJK,L»IWHcIpILK,EIFI7H8LTH\LFFIHUIT EI[EpI,EFIEHXD,J,[EUIJFTH,DFFIHTLK,H,LIJHILEH»GW›EITLTK,ITH]lELhJILK,HcI,D[»FIFaH[EUHLYHXD,JH7f>9H,DFFIEHULIHIJTFIEHDYIJLZDELTK,IE ]GWGELTFIEH+GJicIJhI,IEUHYLFHUIYHmIUDEZIEHhIT»LIWFaH9,EWLK,H4LIHcILHUIJHZ[JpWIcLhIEHqFDDFIEcLWU[EhH+GEHII5DTHLYHNIEFJ[YHUITHqFLWWIE MpIDETHILEIHILhIEIH6I»[cWLZHp[HhJiEUIE7HOJTFHLYHXD,JH7>*>aHDWTGHZ[JpH+GJHUIJHmIc[JFHMcDYDTaH4DJH※D4DLLHp[JHViJUIHILEITHoiEopLhTFIE 8[EUITTFDDFTHUIJHqPHIJ,GcIEH4GJUIE7 SLITIYHYTFDEUH+IJUDEZFHUIJH,I[FLhIH:J9TLUIEFaHUD|HIJHicIJ,D[»FHDWTH]DEULUDFHLEHbJDhIHZDYaHUIEEHUIJHPET»J[K,HD[oHUDTH,lK,TFIHPYF TIFpFH+GJD[TaHUD|HUIJHPE49JFIJHD[oHDYIJLZDELTK,IYH8GUIEHhIcGJIEH4[JUI7HVLIHDWWIaHULIHL,YHED,ITFI,IEaHcITF9FLhIEaHLTFHMcDYDHU[JK,HTILEI 8LEU[EhHDEHULITIHRETIWhJ[»»IHYLFFIEHLYHqFLWWIEHMpIDEHIEFTK,ILUIEUHhI»J9hFH4GJUIEaH[EUHUGJFH,DFHIJH4G,WHD[K,H;HDWTHqG,EHILEIJ DWWILETFI,IEUIEH\[FFIJH;HULIHhWiKZWLK,TFIEHXD,JIHTILEITH,IcIETH[EFIJHUIJH8IFJI[[EhHTILEIJH4IL|IEHmJG|IWFIJEH+IJcJDK,F7 gI,LTHYDEHLTHDEHLTWDEUnaH,DFHILEIHTILEIJH\LFTK,iWIJLEEIEaHULIHUIEH‽D»DELTK,IEHQDYIEHXDYDEDZDHFJ9hFaHULIHqGEUIJTFIWW[EhHUITH‽[EhIE McDYDHDEHUIJHI5ZW[TL+IEH:JL+DFTK,[WIH:[ED,G[HcITK,JLIcIEaH4GHILEHhDEpITHqDYYIWT[JL[YH+GEH6DTTIEHTLK,Hp[YHEFIJJLK,FHFJDo7HSDH4DJIEH; 4LIHITHLYH:LUhLEHUIJHUGJFLhIEHOLE,ILYLTK,IEH,LI|H;HEIcIEHUIEHg※DGWInaHUIEHQDK,ZGYYIEH+GEH\LTTLGEDJIEaHULIH,DEUcITLFpHIJ4GJcIEH,DFFIEa +GJHDWWIYHULIHC,LEITIEHTFDJZH+IJFJIFIEaHULIHTLK,HYILTFH+GYH][WLHp[YHJILK,IEH8[TLEITTYDEH,GK,hIDJcILFIFH[EUH,9[oLhH»GW›EITLTK,IHbJD[IE hI,ILJDFIFH,DFFIE7HSDH4DJIEHDcIJHD[K,HULIHhIYLTK,FJDTTLhIEHQDK,ZGYYIEHDYIJLZDELTK,IJHqGWUDFIEaHULIHD[oHULITIYHTFJDFIhLTK,IE P[|IE»GTFIEHTFDFLGELIJFH4[JUIE7 biJH‽IUIHIF,ELTK,IH]DFIhGJLIHhLcFHITHLYHUGJFLhIEHqWDEhHILEIEHcITGEUIJIEHq»LFpEDYIEaHUIJHJIK,FHTIWFTDYHZWLEhFaHDcIJHELK,FHclTIHhIYILEFHLTF7 qGH,IL|IEHULIHbLWL»LEGTHg8[ZH8[ZnaHULIH]GJIDEIJHgXDcGnaHULIH:GJF[hLITIEHg:GJFDhIIn7HSLTZJLYLELIJ[EhHhDcHITHGooIEcDJHELK,FaHGc4G,WHULI JILEIEHqK,4DJpIEaHg][JGHC,DEnHhIEDEEFaHWD[FHP[TTDhIHUIJH‽[EhIEHXDYDEDZDaHgD[oHUIJHDEUIJIEHqFJD|IETILFIH4G,EFIEn7H,D[FHqFDFLTFLZHTIFpIE TLK,HULIHOLE4G,EIJH+GEH※D4DLLH4LIHoGWhFHp[TDYYIE‼Hp4ILH:JGpIEFHJILEIH:GW›EITLIJaHoiEopI,EH:JGpIEFH\LTK,WLEhIaH+LIJpLhH:JGpIEFHMTFDTLDFIE _C,LEITIEH[EUHXD»DEIJ`aHp4lWoH:JGpIEFHbLWL»LEGTH[EUHdYH:JGpIEFHVIL|I7 VIEEH‽IYDEUHULIHEI[IHgSITFLE›nHUIJH-IJILELhFIEHqFDDFIEH+GEHPYIJLZDH+IJZlJ»IJFaHULIHTLK,HD[oHUIEH:DpLoLZHD[TJLK,FIEH4iJUIaHTGHLTFHUDT 4G,WHL,JH997H:J9TLUIEF7HRK,HcIJ[oIHYLK,HD[oHDYIJLZDELTK,IHNILFpI[hIEaH4IEEHLK,HYLK,HUIYHOLEoW[|H4LUYIEH4LWWaHUIEHULITIJHDWTHQDF[J4[EUIJ hIoILIJFIHPJK,L»IWHD[oHUIEH‽[EhIEH8DJDKZHMcDYDHD[ThIicFH,DF7HSD|HD[oHUIJHRETIWHMD,[aHD[oHUIJH※GEGW[W[HhIWIhIEHLTFaHELK,FHE[JH※[WDH※[WD hIFDEpFH[EUHTGJhWGTHLEHUIEHIDhHhIWIcFH4[JUIaH,DFFIHcIJILFTHqIIoD,JIJHXDYITHCGGZHIJoD,JIEHYiTTIE7H\LFHUIYHZJLIhIJLTK,IEHRETFLEZFHUIJH\DGJL D[oHQI[TIIWDEUH4DJHXDYITHCGGZHJIWDFL+Hh[FHp[JIK,FhIZGYYIEaHDcIJHULIHOLEhIcGJIEIETF9YYIH+GEH※D4DLLH4[JUIEHL,YHp[YH-IJ,9EhELT7HRY XD,JH7==>HhIJLIFHIJHLEHUIEH※LEFIJ,DWFHILEIJHhDEpIEHbWGFFIH+GEH]JLIhTZDE[TH[EUHoDEUHLYH]DY»oHYLFHUIEHOLEhIcGJIEIEHUIEHIGU7 VDTHMcDYDHLEHVLJZWLK,ZILFHLEHTLK,HD[ohIEGYYIEH,DFaHTILHUIJHgPWG,DHT»LJLFnaHTGHcITK,JILcFHITH4IELhTFIETHQGIWH]IEFaHTILEITHNILK,IET :JGoITTGJHoiJHIF,ELTK,IHqF[ULIEHDEHUIJH※D4DLL^EL+IJTLF9FH\DEGDaHUIJHTILFHUJIL|LhHXD,JIEHULIH:T›K,GWGhLIHUITHY[WFLZ[WF[JIWWIEHPJK,L»IWT 4LTTIETK,DoFWLK,H[EFIJT[K,F7HgMcDYDH,DFHYI,JH+GEHUIJH\IEFDWLF9FH※D4DLLTHLEHTLK,HD[ohIEGYYIEHDWTH+GEHUIEHOLhIE,ILFIEHC,LKDhGTnaHcI,D[»FIF UIJHSGpIEF^HgUDTHpILhFHTLK,aH4IEEHIJHTLK,HZi,WH[EUHZGEpIEFJLIJFHp[JiKZWI,EF7n SIJH,I[FLhIH:J9TLUIEFH,DcIHTLK,HD[oHMD,[H‽IEIH[ED[ohIJIhFIHmIWDTTIE,ILFHp[hIWIhFaHULIHoiJHULIHPWG,D^mILTFIT,DWF[EhHF›»LTK,HTIL7HSIJ UIYGZJDFLTK,IHPchIGJUEIFIHQILWHPcIJKJGYcLIaHUIJH※D4DLLHLYH6I»J9TIEFDEFIE,D[TH+GEHVDT,LEhFGEH+IJFJLFFH[EUHMcDYDH+GEHPEoDEhHDE 4G,W4GWWIEUHcIhWILFIFIaHcIFGEFHIcIEoDWWTHUDTHcI,IJJTK,FIaHD[ThI4GhIEIHP[oFJIFIEaHULIHb9,LhZILFaH6[,IHp[H4D,JIEH[EUH6[,IHp[HTFLoFIEaHULIHoiJ ※D4DLLHF›»LTK,HTIL7H-GEHUIJHPWG,D^\IEFDWLF9FH,IL|FHITaHTLIHpILK,EIHTLK,HU[JK,HULIHoJLIUoIJFLhIHPZpI»FDEpH[EFIJTK,LIUWLK,IJHRUIIEH[EUH][WF[JIE D[T7H-GEHL,JIEHJT»JiEhIEH,IJHTILIEHULIH※D4DLLDEIJH+GEHUIYHmWD[cIEHU[JK,UJ[EhIEHDEHILEIHhlFFWLK,IaHT»LJLF[IWWIH]JDoFaHD[THUIJHDWWI ,IcIETIEIJhLIH,IJ+GJhI,I7 qILEIH‽D»DELTK,IH\LFTK,iWIJLEH,GLT^PEEHXDYDEDZDH,DFHULITIHJDTTLTK,IHPWK,LYLIHIF4DTHDEUIJTHoGJY[WLIJF7HbiJHTLIaHUIJIEH-GJoD,JIEHTK,GEHTI,J oJi,H+GEHQL»»GEHILEhI4DEUIJFH4DJIEaHhDWFHg8DJJ›nHELK,FHDWTH4LJZWLK,IJHgWGKDWHcG›naH4ILWHILEHTGWK,IJHTILFHmIEIJDFLGEIEHD[oHUIYHPJK,L»IW cI,ILYDFIFHTILEHYiTTI7HqLIH,DcIHL,EaH4LIHTLIHTK,JILcFaHDWTHIK,FIEHRET[WDEIJHIJTFHDZpI»FLIJFaHDWTHTLIHL,EHcILHTILEIYHWIFpFIEHJWD[cHD[oH※D4DLL cILYHq[JoIEHcIGcDK,FIFI7HSDH,DcIHIJHTLK,HDWTHVIWWIEJILFIJHYLFHUIJHTFGWpIEHmIWDTTIE,ILFaHYLFHUIJHhITK,YILULhIEHOWIhDEpH+GEHUIJH8JDEU[Eh FJDhIEHWDTTIEaHTILHTK,4IJIWGTHD[oHUIEHVIWWIEHhIJLFFIEaH4LIHUDTHTGETFHE[JHILEIYHgWGKDWHcG›nHDEhIcGJIEHTIL7 OTHYDhHZJDY»o,DoFHZWLEhIEaHILEIH8IpLI,[EhH,IJp[TFIWWIEHp4LTK,IEHUIYH]D»LF9EHP,DcHUIJHoJi,IEH»DpLoLTK,IEH,IhIEUIaHUIJHcILHTILEIY qK,LKZTDWTZDY»oHYLFHUIYH8lTIEHUIEHILhIEIEHS9YGEIEH+IJoLIWaH[EUHUIYH‽[EhIEHPoJGDYIJLZDEIJaHUIJHLEHUIEHVGhIEHUITHMpIDETH;H[EhIFJicF +GEHLJhIEU4IWK,IEHYGETFJlTIEH-LTLGEIEH;HTILEIH,IcIEToJI[UIH[EUHTILEIHTK,LIJH[EIJTK,iFFIJWLK,IHN[+IJTLK,FHD[TWIcF7 PcIJHULITIJHP[|IETILFIJHLYHVIL|IEH※D[TH;HgUIJH\DEEHLTFHILEIHRETIWnH;aHUIJHDWWIHIJIJcFIEH[EUHDEIJpGhIEIEHQGJYIEHPYIJLZDTHT»JIEhFaH4LJU DYHOEUIHUDJDEHhIYITTIEH4IJUIEaHGcHITHL,YHhIWLEhFaHUDTHmJD[IEH[EUHUIEHbW[K,Hp[HcITLIhIEaHULIHD[THUIEHbGWFIJpIWWIEH+GEHm[DEFbEDYGaHD[T UIJHIJiYYIJWDEUTK,DoFH+GEHbDW[‽DaHD[THUIYHpIJcGJTFIEIEH\DYYGE^IIY»IWH+GEHVDWWHqFJIIFHULITIHhJG|DJFLhIHQDFLGEH[EUHL,JI mJiEU[EhTLUIDWIHYLFHILEIYHmIJ[K,H+GEH-IJ4IT[EhH[EUHb9[WELTHp[HicIJpLI,IEHUJG,IE7HOTH4LJUHILEHEI[ITHPYIJLZDHTILEaHgDEGF,IJHKG[EFJ›na D[oHUITTIEHIEhIH:DJFEIJTK,DoFHULIHO[JG»9IJHp4DEhTW9[oLhHDEhI4LITIEHTLEU7 PcIJHTK,GEH4IJUIEH6LTTIHTLK,FcDJaH4IEEHULITIJHPcZlYYWLEhHILEITHDoJLZDELTK,IEH\GTWIYTHTILEIHPEE9,IJ[EhHDEHUIEHRTWDYHTGH4ILFHFJILcFa UD|HIJH;H4LIHTILEHicIWHcIWI[Y[EUIFIJH-GJh9EhIJHmIGJhIHV7H8[T,H;HLEHRTFDEc[WaHLEHUIJH※DhLDHqG»,LDHp[YDWaHULIHILEYDWHUDTHLY»GELIJIEUTFI 8D[4IJZHUIJHGJLIEFDWLTK,IEHC,JLTFIE,ILFH4DJaHoiJHILEIHP[oED,YIHUIJHIiJZILHLEHULIHO[JG»9LTK,IHELGEH»W9ULIJFaHG,EIHUIJIEHqFDDFTWIEZIJ icIJ,D[»FHZGET[WFLIJFHp[H,DcIE7HSLIHNILFHEDL+IJH-IJ,IJJWLK,[EhH[EUHcWLEUIJHOJhIcIE,ILFHLEHUIEHFJDETDFWDEFLTK,IEH8IpLI,[EhIEHhI,lJFHUIJ -IJhDEhIE,ILFHDE7HVIJHYlK,FIH,I[FIHEGK,HUDTH,LIUHD[THUIEHIJTFIEHQDK,ZJLIhT‽D,JIEHDETFLYYIE‼HgQDK,HPJLpGEDH[EUHPJZDETDTaH4GHoJi,IJHYDW UIJH6GFIH\DEEHTD|aHUDH4GWWIEH4LJHDWWIH,LEn_HOLEIHDEUIJIHqK,E[WpIHcITK,JLIcH※D4DLLHUDYDWTHDWTHILEIHgRETIWHD[THIJ9[YIEHhIcGJIEn7HSLITI -IJZLFTK,[EhH»D|FHELK,FHYI,JHLEH[ETIJIHmIhIE4DJF7 ※I[FIHFJLFFH[ETHD[THMcDYDTHN[oDWWT,ILYDFH※D4DLLHILEIHhDEpHDEUIJIH-LTLGEHIEFhIhIE‼HgOLEH:J9TLUIEFaHUIJHD[THIJ9[YIEHhIcGJIEHLTFn7HSDTHTIL G,EIH‽IUIHRJGELIHhITDhF7HSIJHgPYIJLKDEHUJIDYnaH+GEHUIYHqDY[IWH※[EFLEhFGEHEGK,HYILEFIaHULIHT»DELTK,T»JDK,LhIEHQI[ILE4DEUIJIJHYi|FIE L,EHD[oHIEhWLTK,HFJ9[YIEaH[YHDEHL,YHFILWp[,DcIEaH,DFHTILFHUIYHde7HXDE[DJHdee>HULIHNihIHILEITHTYDJFIEaHIWIhDEFIEH[EUHpLIWcI4[|FIE PoJGDYIJLZDEIJTHDEhIEGYYIE7HR,YH4LJUHULIH,DTFHILEITHILFDEIEHD[ohIciJUIFH4IJUIE7HOJH4LJUHpIJYiJcIEUIEH:Jio[EhIEHD[ThITIFpFHTILE7HY ULITIJH,LTFGJLTK,IEHIJDhLZHp[HcIhIhEIEaH4LJUHITHELK,FHD[TJILK,IEaHUD|HIJHTLK,HUIEHgPWG,DHT»LJLFnHDEhIILhEIFH,DF7
CDEFGHIJDKFG
LMNM
OEPGEQRSRTUQHVTUDFFQERWSQXQ
YQZJKFRFD[HPQRH\KGWUQFQE ]G[^D_DKFD`HSaHbcKdHeffg hQKHYQZJKFRFD[HPQRH\KGWUQFQEHbGUDaaQPHiHbDJXJPHGPQKHbDJXSPH[QEDEEFHiHjSKPHSEHVGXG`HPQaHDXFQEHVJXFDERRSFdHSaHkQKdQEHLD‹DR`HjSQHQSEQ KSQRS[QH›SKaQRHJEPHQSEH※DaSXSQE‼QRFH[Q‼QSQKF‽HVQXZRFH‼‾KHDRSDFSRTUQHNQKUcXFESRRQHjSK_FHPDRHYQPKcE[QHZQ_XQaaQEP‽HbSFHJEQEPXSTUQKHYQPJXPHUDF RSTUHaQSEH‿Q[XQSFQK`HPQKHM[KGEGaHOWDE[`HaSFHRQSEQaHDXFQEH\QJ[QGFHZSRHSEHPSQH⁀cUQHPQKHM[JE[⁁bGRTUQQHPJKTU[QRTUXcE[QXF‽H⁂SEQEH\DK_WXDFd ‼SEPQFHQKHSEHPQaHYQj‾UXH⁃QPGTUHESTUF`HRGHPD⁄HQKHjcUKQEPHaQSEQRH‿QRJTURHPQKH⁅bQR⁃SP⁆`HPSQHaSFHjQSFHDJR[KQS‼QEPQaHhDTUHSaHVFSXHQSEQR aDXDSSRTUQEHYQaQSEPQUDJRQRH[QZDJFHSRF`HdJRcFdXSTUQH⁇JEPQEH‼DUKQEHaJ⁄HSEHPQKHkG‼‼EJE[`HaSTUHDaH⁂SE[DE[HPQRHYQZQFRUDJRQRHjSQPQK DEdJFKQ‼‼QE‽ hSQHYXcJZS[QEHRSEPHSEHPSTUFQEH⁇QSUQEHDJ‼[QRFQXXF`HJEPHSTUH‹QKjQSXQHEDTUHPQaHbJKaQXEHQSEQRH⁅ZSRaSXXDUHKDUaDEHKDUSa⁆HEJKH_JKdHSa USEFQKRFQEH⁅RG‼‼⁆‽H※DRFH⁃QPQKH‿QFQKHFKc[FHPSQH‼‾KHbDXDSQEHF^WSRTUQHRTUjDKdQHVDaF_DWWQHSEH※GKaHQSEQRHVTUS‼‼TUQER‽ hDRHbDJXJP⁁※QRF`HRGHUDZQHSTUHQSEaDXH[QXQKEF`HRQSH[DKH_QSEHDJFUQEFSRTUQKHaJRQXaDESRTUQKH※QSQKFD[`HSEH_QSEQKH⁈QSRQHdJH‹QK[XQSTUQEHaSFHPQa ※DRFQEHGPQKHPQaH[KG⁄QEH⁉W‼QK‼QRF`HPSQHPQKH›GKDEH‹GKRTUKQSZF‽HhQKHYQZJKFRFD[HPQRH\KGWUQFQEHRQSH[QjSRRQKaD⁄QEHSEH⁀DTUDUaJE[HJEP MEXQUEJE[HDEHPDRH⁈QSUEDTUFR‼QRFHPQKHCUKSRFQEHQEFRFDEPQEHJEPHPSQEQH‹GKHDXXQaHPDdJ`HPQEH›SEPQKEHPSQH⁇QXS[SGEHEDUQdJZKSE[QEHJEPHRSQ`HRGjQSF a7[XSTU`HaSFHYQRTUQE_QEHdJH‾ZQKUcJ‼QE‽ OTUHZSEHPQKHQSEdS[QH⁀STUFDRSDFQHSEHPSQRQaHYQF‾aaQX`HPDRH‹GaH8cKaQEHPQKH›XQSEQE`HPQaH9SaZQX_XDE[HPQRHYDaQXDEHJEPHPQaH‹QKdjQS‼QXFQE kJWQEHPQKHMJFGZJRRQHZQRFSaaFHjSKP`HdjSRTUQEHPQKQEH_GaWD_FQaH‿XQTURFKGaHdDUXXGRQHbGFGKKcPQKHQSEQEHhJKTUXD⁄HRJTUQE‽H‿QSHPQE ⁂KjDTURQEQEHUQKKRTUFH_QSEQKXQSHMJR[QXDRRQEUQSFH‹GK‽HhQaH※KQaPQEHZQ[Q[EQFHaDEHaSFHPQaHXDEPQR‾ZXSTUQEH8cTUQXE`HPDRHSTUHEDTUH›Kc‼FQE QKjSPQKQ‽HOaaQKHjSQPQKHjQKPQHSTUHSEHRTUXQTUFQaH⁂E[XSRTUHEDTUHaQSEQKHkQK_JE‼FH[Q‼KD[F`HJEPHSTUHZQUDJWFQHSEHPQKH⁅XJ[UDFHQXH‼JRUD⁆`HPSQHSTU QSERFHa‾URDaH[QWDJ_FHUDFFQ`HPD⁄HSTUHDJRHPQaH8SZDEGEHRFDaaQ‽ hSQHVFDPFHVGXG`HPSQHaQUKHDXRHQSEQHUDXZQHbSXXSGEHbQERTUQEHdcUXF`H[SXFHDXRHkGKFHQSEQKHRFKQE[QEHSRXDaSRTUQEH⁇QXS[SGERDJR‾ZJE[HJEPHJEFQKRTUQSPQF RSTUHPDPJKTUH‹GEHaDETUQEHDEPQKQEH⁇Q[SGEQEHOEPGEQRSQER‽HVSQHXQSPQFHPDKJEFQK`HPD⁄HRSQHRFQFRHSaHVTUDFFQEHPQRHEJKHDTUFdS[H›SXGaQFQKHQEF‼QKEFQE VJXFDEDFRH]G[^D_DKFDHRFDEP`HPQRRQEHkQKKRTUQKHRSTUHSaHDTUFdQUEFQEHLDUKUJEPQKFHDXRHPQKHjQSFDJRHacTUFS[RFQH※‾KRFHDJ‼HLD‹DHPJKTURQFdQEH_GEEFQ‽ OaaQKHjSQPQKHSRFHQRHSEHVGXGHdJHZXJFS[QEHMJ‼RFcEPQEH[Q_GaaQE`HPSQHRG[DKHPSQH※GKaH‹GEH_GXXQ_FS‹QaHMaG_XDJ‼HDEEDUaQE‽HNGEHPSQRQEHKDZSDFQE MJRZK‾TUQEHSRFHPQKHbDJXJP⁁※QSQKXSTU_QSFHESTUFRHDEdJaQK_QE‽ hQKH\DXDRF`HPQKH›KDFGEHPQRHVJXFDER`HPQRRQEH9J[DE[H‹QKRTUXGRRQEHSRF`HjSKPH‹GEHQSEQaH⁇SQRQEKDPH‾ZQKKD[F‽HhSQHUSQKH‹GKUQKKRTUQEPQH\K‾PQKSQ ‹QKUSEPQKFHESTUF`HPD⁄HEQZQEHQSEQKHbQUKdDUXH‹QKRTUXQSQKFQKH※KDJQEHDJTUHaDETUQHbcPTUQEHSEHLQDERHDJ‼HPQEHbGFGKKcPQKEHRSFdQE‽HOUKHXDE[QR RTUjDKdQRHkDDKHIJSXXFHJEFQKHVFJKdUQXaQE`HaDETUaDXHRG[DKHJEFQKHCGjZG^U‾FQEHUQK‹GK‽HbSKH‼DXXQEHDJ‼HPQEH:⁁VUSKFRH‼KQTUQHVWK‾TUQHDJ‼;H⁅8G‹Q aQ⁆HGPQKH⁅CDEXDaD`H‹QKQSEZDKQEHXc⁄F‽ MJ‼HPQKH※DUKFHEDTUHVGXGHUDZQHSTUHQSEQHZQRTUQSPQEQHTUKSRFXSTUQH›SKTUQHQEFPQT_F‽HhDH‼cXXFHaSKHWX7FdXSTUHQSE`HPD⁄HiHPJKTUHQSEQEHWJKQEH9J‼DXXHPQK JEFQKRTUSQPXSTUQEH›DXQEPQKHiHPQKH›KQJdQRFGPHCUKSRFSHSEHPSQRQaHLDUKHDEHPQaH[XQSTUQEH:D[HZQFKDJQKFHjSKP`HDEHPQaHPSQHSRXDaSRTUQ YXDJZQER[QaQSERTUD‼FHPSQHYQZJKFHSUKQRH\KGWUQFQEHbGUDaaQPH‼QSQKF‽H⁂SEHQS[QEDKFS[QRH9JRDaaQEFKQ‼‼QE`HDJTUHjQEEHQRH_QSEQKXQSHMZRSTUF QEFRWKSTUF‽H⁀DTUPQE_XSTUHUDFHaSTUHPSQRQH›GSEdSPQEdHPQEEGTUH[QRFSaaF‽HkSQKHjSKPHFKD[SRTUHPDKDEHQKSEEQKF`HPD⁄HPSQH⁂KGZQKJE[HPQKH⁈QXFHPJKTU PQEHjQS⁄QEHbDEE`HPSQH‹GKH[QEDJHQSEQaHUDXZQEHLDUKFDJRQEPHPSQH⁉dQDEQH‾ZQKjDEPHJEPHdJHSUKQaH:KSJaWUdJ[HDJRUGXFQ`HWDKDXXQXHdJK MJRZKQSFJE[HPQRHCUKSRFQEFJaRHRFDFF‼DEP`HPD⁄H›GXGESRSQKJE[HJEPHbSRRSGESQKJE[HZQSEDUQHdjDE[RXcJ‼S[HkDEPHSEHkDEPH[SE[QE‽ ⁈SQHJEFQKRTUSQPXSTUHPSQRQRH⁅UQSXS[QH⁂=WQKSaQEF⁆H‹QKXSQ‼`HPDRHQSEQKHFSQ‼QEHJEPH‼KGaaQEH?ZQKdQJ[JE[HQEFRWKDE[`H[XQSTUdQSFS[H⁃QPGTUHaSF Q=FKQaH[KDJRDaQE`HSEIJSRSFGKSRTUQEHbQFUGPQEHPJKTU[Q‼‾UKFHjJKPQ`HXc⁄FHRSTUHDEHPQKHYQ[QERcFdXSTU_QSFHPQKH_DFUGXSRTUQEHJEPHPQK WKGFQRFDEFSRTUQEH⁂=WDERSGEHPDKXQ[QE‽HhSQHb7ETUQHPQRHUQSXS[QEH※KDEdSR_JRHJEPHPQRHUQSXS[QEHhGaSES_JR`HSaHNQKZJEPHJEPHG‼FHKS‹DXSRSQKQEPHaSF PQKHQXSFcKQEH›QKEFKJWWQHPQRH\DWRFQR`HaSFHPQEHLQRJSFQEHPQRHO[EDFSJRH‹GEH8G^GXD`HUDZQEHPSQHUDXZQH⁈QXFHPQKHKQXS[S7RQEHMJFGKSFcFH⁇GaRHJEFQKRFQXXF` ‹GEH8DFQSEDaQKS_DHZSRHdJHPQEH\USXSWWSEQE`H‹GEHV‾PSEPSQEHZSRHdJaH›GE[GZQT_QEH9QEFKDXD‼KS_DR‽HhSQH\DFKQRHPQKHVGTSQFDRHLQRJ`HPSQHDJ‼[KJEPHSUKQR JEQKa‾PXSTUQEHVFJPSJaRHDaHkG‼H‹GEH\Q_SE[HPQEH⁇DE[HUGUQKHbDEPDKSEQHZQ_XQSPQFQE`HUDFFQEHRSTUHdQSFjQSXS[HSEHPQKHkG‼‼EJE[H[QjSQ[F`HPJKTUHPSQ :DJ‼QHPQRHhKDTUQERGUERHJEPHRQSEQRHkG‼QRHPDRH[QjDXFS[QH⁇QSTUHPQKHbSFFQH‼‾KHPSQH⁅DXXQSERQXS[aDTUQEPQH›SKTUQ⁆HdJH[QjSEEQE‽ hSQHWKGFQRFDEFSRTUQEH›GE‼QRRSGEQEHUDZQEHRSTUHSEHSUKQKHNSQX‼DXFHRTUjQKQKH[QFDEHaSFHPQKH_JXFJKQXXQEHJEPHQFUESRTUQEHNQKRTUaQXdJE[`HPSQHSEHPQE aQSRFQEH_DFUGXSRTUQEHhS7dQRQEHWKD_FSdSQKFHjJKPQHJEPHG‼FHdJHQKRFDJEXSTUQEHMRRSaSXDFSGERQK[QZESRRQEH‼‾UKFQ‽H⁈QEEHPSQH\KGFQRFDEFQEHRSTUHSE PSQRQKHQ=GFSRTUQEH>a[QZJE[HPJKTURQFdFQE`HaJ⁄FQEHRSQHiHdJaDXHdjSRTUQEH›DWRFDPFHJEPH\KQFGKSDHiHPDRHkDEPSTDWHPQKHTDX‹SESRFSRTUQEH8QUKQ ‾ZQKjSEPQE‽HVGH‾ZQKFKJ[QEHPSQHPGKFHXQZQEPQEH‿JKQEHSUKQHNGKRFQXXJE[H‹GEHPQKH\KcPQRFSEDFSGEHDJ‼HSUKQHKDRRSRTUQEHNGKJKFQSXQHJEPHPSQHhS‼‼QKQEd djSRTUQEH⁈QS⁄HJEPHVTUjDKd‽HhSQHWK‾PQH⁀‾TUFQKEUQSFHPQKH⁇Q‼GKaSQKFQE`HSUKHNQKdSTUFHDJ‼HUQSXS[QEH›JXFHJEPHXSFJK[SRTUQRHhQTGKJa`HDEHPQa XQPS[XSTUHPSQHME[XS_DEQKH‼QRFUSQXFQE`H‼7KPQKFQHPDRH⁂EFRFQUQEH‹GEHZSdDKKQE`HG‼FHQ=FKD‹D[DEFQEH※GKaQEHPQRHV^E_KQFSRaJRHaSFHPQEHSaH>EFQK[KJEP
RTUXJaaQKEPQEH⁀DFJKKQXS[SGEQE‽HMJ‼H[DEdHDEPQKQH⁈QSRQHjSQPQKJaHjJKPQHPQKH[DEdQH⁀GKPQEHMRSQERHiH‹GaH>KDXHZSRHdJaH\DdS‼S_HiH‹GEHPQE
ZcKFS[QEH\GWQEHPQKHWKDjGRXDjSRTUQEH›SKTUQH⁇J⁄XDEPR`HPQKHZ^dDEFSESRTUQEHYXDJZQER‼GKaHPQRHCUKSRFQEFJaR`HQSE‹QKXQSZF‽ OEH⁃QEQEH›JXFJK_KQSRQE`HPSQHRSTUH[Q[QE‾ZQKHDXXQEH›GE‹QKRSGERZQa‾UJE[QEHPQKHTUKSRFXSTUQEHbcTUFQHKQRSRFQEFHGPQKHSaaJEHQKjSQRQEHiHSEHPQK jQXFJaRWDEEQEPQEH>aaDHPQRHORXDa`HSaHRFDKKQEH›DRFQE[Q‼‾[QHPQRHkSEPJSRaJR`HSEHPQKH_GEFQaWXDFS‹QEHMZRGEPQKJE[HPQRH‿JPPUSRaJRHi QKdSQXFQHdJaSEPQRFHPDRHDJ‼K‾UKQKSRTUQHYQPDE_QE[JFHPQKHMJ‼_XcKJE[H‹QKRWcFQFQH⁂K‼GX[Q`HEDTUPQaHPSQH›XQKSRQSHSEHPQEH⁇J‼HPQRH⁉ZR_JKDEFSRaJR JEPHPQKH※GKFRTUKSFFR‼QSEPXSTU_QSFH[QKDFQEHjDK‽ ⁀GTUHUQJFQHdQUKFHPSQH‹SQX[QK‾UaFQH⁅hQaG_KDFSQ⁆HOEPSQERH‹GEHQSEQKHSaWGKFSQKFQEH※GKaHPQRH⁅⁂EXS[UFQEaQEFR⁆HJEPHPQaHYQPDE_QE[JFHPQK ⁅※DZSDEHVGTSQF^⁆‽HhSQRQKH:KQEPHjJKPQHSEHPQKH\QKRGEHPQRHQKRFQEHSEPSRTUQEH⁇Q[SQKJE[RTUQ‼RHLDjDUDKXDXH⁀QUKJHiHjGUXjQSRXSTUHQSEH‿KDUaDEQHPQK ‹GKEQUaRFQEH›DRFQHiH‾ZQKdQJ[QEPH‹QK_7KWQKF‽HhD⁄HPSQHMJ‼_XcKJE[`H⁅XQRHXJaS@KQR⁆`HjSQHRSQHSEHSUKQaH>KRWKJE[RXDEPH※KDE_KQSTUHUQS⁄F`HdjDKHQSEQ XQSPQERTUD‼FXSTUQHNQKjQK‼JE[HTUKSRFXSTUQKHhG[aDFS_H‹GXXdG[`HSEH⁈SK_XSTU_QSFH⁃QPGTUHDJ‼HPQaH>K[KJEPHPQKH8QUKQHPQRH⁀DdDKQEQKRH[QPSQU`HRGXXFQE QKRFHRWcFQKQHYQEQKDFSGEQEHjDUKEQUaQE‽ VTUGEHSEH‼K‾UQKQEHNQK7‼‼QEFXSTUJE[QEHUDZQHSTUHPSQHMJRRD[QHPQRH‼KDEd7RSRTUQEHVTUKS‼FRFQXXQKRHMEPKAHbDXKDJ=HdSFSQKF`HPQKHRQXZRFHM[EGRFS_QKHJEP DXXQRHDEPQKQHDXRHQSEH_XQKS_DXQKH※K7aaXQKHjDK;H⁅hDRHBBO‽HLDUKUJEPQKFHjSKPHKQXS[S7RHRQSEHGPQKHQRHjSKPHESTUFHRQSEHiHXQH‹SE[F⁁QF⁁JES@aQHRS@TXQHRQKD KQXS[SQJ=HGJHEQHRQKDHWDR‽⁆HMJRHPSQRQKH\KG[EGRQHXSQ⁄QHRSTUH‼‾KH⁂JKGWDHQSEHP‾RFQKQRHVTUST_RDXHDZXQSFQE‽HOEHPQaHbD⁄QHEcaXSTU`HjSQHDEPQKQ ›GEFSEQEFQHdJHSUKQEHb^FUQEHJEPH⁇SFQEHdJK‾T_‼SEPQE`H‹QKdSTUFQFHPDRHMZQEPXDEPHDJ‼HPSQHQS[QEQEHYXDJZQER[QjS⁄UQSFQE`HX7RFHRSTUH‹GEHPQKHQKQKZFQE ⁇QXS[SGRSFcF‽ MJ‼HPDRHbGPQjGKFH⁅8QSF_JXFJK⁆HRGXXFQHaDEHSEHPSQRQaH9JRDaaQEUDE[HXSQZQKH‹QKdSTUFQE‽HLQPQE‼DXXRHRFQUFHPQKHjQRFXSTUQHkQPGESRaJRHPQK QS‼QKEPQE`HPQKH_caW‼QKSRTUQEH⁈SQPQK[QZJKFHGPQKH⁂KEQJQKJE[HDEPQKQKH‿Q_QEEFESRRQ`H‹GKHDXXQaHPQRHJEaSFFQXZDKHZQEDTUZDKFQEHORXDa`HKDF⁁HJEP USX‼XGRH[Q[QE‾ZQK‽H⁅hSQHbQERTUQEKQTUFQHRSEPH_QSEH⁇QXS[SGERQKRDFd⁆`HUQS⁄FHQRHSEHQSEQKH‿KGRTU‾KQHPQRH‼KDEd7RSRTUQEHkQQKQR‽H⁈QKHjcKQHRTUGE ZQKQSF`H‼‾KHPSQH⁉_FKG^SQKJE[HPQRHWGXSFSRTUQEH\XJKDXSRaJR`H‼‾KHPSQHQKdjJE[QEQH⁈QSFQK[DZQHJERQKQKHWDKXDaQEFDKSRTUQEH‿KcJTUQHPDRHQS[QEQH8QZQE dJHGW‼QKE`HdJaDXHPSQHZQFKG‼‼QEQEH‼KQaPQEHN7X_QKRTUD‼FQEHESTUFHPDRH[QKSE[RFQHNQKXDE[QEHEDTUHQSEQKHRGXTUQEH?ZQKEDUaQHZQ_JEPQEC hSQH‹QKUQS⁄JE[R‹GXXQH⁂WGTUQ`HDXRH›QaDXH\DRTUD`HPQKHJEFQKHPQaH⁀DaQEHMFDF‾K_HPSQHaGPQKEQH:‾K_QSHaSFH‿KDTUSDX[QjDXFHDJ‼HPQEH:K‾aaQKE PQRH⁉RaDESRTUQEH⁇QSTUQRHQKKSTUFQFQ`HPDRH⁂PS_FHQKXSQ⁄;H⁅⁂RH[SZFHEJKHQSEQH9S‹SXSRDFSGE`HJEPHPDRHSRFHPSQHQJKGWcSRTUQ⁆`HXSQ[FHjQES[QKHDXRHQSE LDUKUJEPQKFHdJK‾T_‽HkQJFQHaDTUFHPSQHKDPS_DXQHMJRKSTUFJE[HDJ‼HPDRHNGKZSXPHPQRHMZQEPXDEPQRH_QSEQEHVSEEHaQUK‽HhDRHXc⁄FHRSTUHDEHPQKH⁃‾E[RFQE ⁂EFjST_XJE[HPQKHWGRF_QaDXSRFSRTUQEH:‾K_QSHDZXQRQE`HPSQHVTUKSFFH‼‾KHVTUKSFFHdJKHSRXDaSRTUQEH:KDPSFSGEHJEPHYQRSFFJE[`H⁃DHdJHUQSaXSTUQE ›DXS‼DFRFKcJaQEHdJK‾T_‼SEPQF‽ ⁈DKJaHQS[EQFHRSTUHPSQHSEPGEQRSRTUQHOERQXHLD‹DHRGHFKQ‼‼XSTUH‼‾KHQSEQHhQJFJE[HKQXS[S7RQKHYQ[QERcFdQHJEPHKQXS[S7RQKHMEDXG[SQECHNGEHPQEHeef bSXXSGEQEH⁂SEjGUEQKEHPQKH⁇QWJZXS_HOEPGEQRSQEHXQZQEHDEfHbSXXSGEQEHDJ‼HLD‹D‽HkSQKH‾ZQKXD[QKEHRSTUHRJ_dQRRS‹QHVTUSTUFQEH_JXFJKQXXQKHNSQX‼DXFHJEP USRFGKSRTUHPS‼‼QKQEdSQKFQKHhG_FKSEQE‽HhSQHNQKjGKKQEUQSFHSRFH[KG⁄`HJEPHPSQHMEDX^RQEHPQKH‿QGZDTUFQKHRFSaaQEHRQXFQEH‾ZQKQSE‽H⁀STUFHEJKHLD‹D`H[DEd OEPGEQRSQEHFDJaQXFHRQSFHPQaH›DaW‼HJaHPSQH>EDZUcE[S[_QSFH‹GEHkGXXDEP`HPQKHDFGgHQK‼GX[KQSTUHDZ[QRTUXGRRQEHjJKPQ`HSEHQSEQEHRQXFRDaQE ›GEFKDRF; MJ‼HPQKHQSEQEHVQSFQH‹QKjQSRQEHjGUXjGXXQEPQH⁂=Q[QFQEHDJ‼HPSQH_GERFSFJFSGEQXXH‹QKDE_QKFQHhJXPRDa_QSFHPQKH⁅\DETDRSXD⁆`HPSQHPSQH_GKDESRTUQ ⁇QXS[SGEHSEHPSQRQaH8DEPH‹GKHPQEH‼DEDFSRTUQEH⁂=dQRRQEHZQjDUKQ`HPSQHUSQKHJEPHPGKFHSaHhDK⁁JX⁁ORXDaHDJ‼‼XDT_QKE‽HMJ‼HPQKHDEPQKQEHVQSFQHjSKP OERJXSEPQHWQKSGPSRTUHPJKTUHMJRZK‾TUQHa7KPQKSRTUQKH⁈JFHUQSa[QRJTUF`HPJKTUH_GXXQ_FS‹QH⁇DRQKQS`HPSQHRSTUHZQSHYQXQ[QEUQSFHDXRH⁅LSUDP⁆H[QZcKPQF JEPHDJTUHSaHSEFQKEDFSGEDXQEH⁈GKF[QZKDJTUHaSFHPQKHaDXDSSRTUQEHNG_DZQXH⁅MaG_⁆HZQEDEEFHjSKP‽HLQPQRHbDX`HjQEEHSTUHaSTUHWJZXSdSRFSRTUHaSF OEPGEQRSQEHZQ‼D⁄FQ`HjJKPQHSTUHPQKHVTUjSQKS[_QSFH[QjDUK`HRGH‹SQXQH⁈SPQKRWK‾TUQHdJH[XSQPQKEHJEPHdJHPJKTUXQJTUFQE‽
hQKHYQSRFH‹GEH‿DEPJE[ ⁂SEH_JKdQKH⁇‾T_ZXST_HDJ‼HaQSEQEHQKRFQEHMJ‼QEFUDXFHDJ‼HLD‹DHSaHVGaaQKHDFHG;HNGEHPQKHXDE[QEHUGXXcEPSRTUQEH\KcRQEdHjDKQEHPDaDXRHEJKHEGTU RWcKXSTUQHVWJKQEHdJHQEFPQT_QE‽HhQKHQUQaDXS[QEH›GXGESDXaQFKGWGXQH‿DFD‹SD`HPSQHEJEaQUKHLD_DKFDHUSQ⁄`HUDFFQHRSTUHTUDGFSRTUQH>EKJUQ ZQacTUFS[F‽HhSQH⁀SQPQKXcEPQKHUDFFQEHdJKH⁂EFRJaW‼JE[HPSQRQRHDJ‼HbQQKQRES‹QDJH[QXQ[QEQEHkD‼QERHQSEHV^RFQaH‹GEH›DEcXQE`H‹GEH⁅YKDDTUFQE⁆ [QdG[QE`HDJRHPQKQEH‼DJXS[QaH⁈DRRQKHQEFRQFdXSTUQKHYQRFDE_HJEPHPSTUFQHbGR_SFGRTUjcKaQHDJ‼RFSQ[QE‽HMEHQSEQHQKFKc[XSTUQH>EFQK_JE‼FHjDKHESTUF dJHPQE_QE‽HhDRHQSEdS[QHkGFQXH⁅‿DFD‹SD⁆HjDKHaSFHYcRFQEH‾ZQKZQXQ[F‽ MXRHZQUQKKRTUQEPQRH⁈DUKdQSTUQEHPQKHEQJQEH9QSFHUDFFQH\KcRSPQEFHMUaQPHVJ_DKEGHQSEQHacTUFS[QHVcJXQHQKKSTUFQEHXDRRQE`H‹GEHPQKQEHYSW‼QXHQSEQ [GXPQEQH※XDaaQHjSQHPDRH※QJQKHPQKH>EDZUcE[S[_QSFHXQJTUFQFQ‽H⁅bQKPQ_D⁆`HRGHEDEEFQHaDEHPSQH[QjGEEQEQHVGJ‹QKcESFcFHSEHPQKHEQJHQSE[Q‼‾UKFQE ⁂SEUQSFRRWKDTUQH‿DUDRDHOEPGEQRSD‽HOTUHEcTUFS[FQHRTUXSQ⁄XSTUHSEHQSEQaHZK‾FQEPHUQS⁄QEHVTUJWWQE`HPQRRQEH⁂E[QHSTUHaSFHQSEQaHa‾KKSRTUQE` ‼QFFXQSZS[QEHOEPQKHFQSXFQ‽HbQSEQaHPDaDXS[QEH⁇QSRQ[Q‼cUKFQE`HPQaH\UGFG[KDWUQEHIFFSE[QKHDJRHVDDKZK‾T_QE`HjDKHQRHZQSHPQKHME_JE‼FHjQSF RTUXSaaQKHQK[DE[QE‽H⁂KH‹QK‼‾[FQH‾ZQKHPDRHRQXFRDaQH⁇QSRQPG_JaQEF`HPDRHdJKH9QSFHPQRHDJFGEGaQEHVDDK⁁VFDDFQRHLGUDEEQRHkG‼‼aDEERHPSQ ‼KDEd7RSRTUQH⁇QWJZXS_HaSFHPQaHPST_QEHMJ‼PKJT_H⁅VDKKGSR⁆HDJRRFQXXFQ‽HhQEHSEPGEQRSRTUQEH‿QU7KPQEHQKRTUSQEHPQKH\D⁄HRGH‹QKPcTUFS[`HPD⁄ IFFSE[QKHPKQSH:D[QHSEHkDJRDKKQRFH‹QKZKDTUFQ‽ hD⁄HPSQRQHjQSF‹QKRFKQJFQ`HPSRWDKDFQHOERQXjQXFHSEHQSEQaHQSEdS[QEHVFDDFR[QZSXPQHdJRDaaQE[QUDXFQEHjJKPQ`H_DaHQSEQaH⁈JEPQKH[XQSTU‽HhSQ bGXJ__QE⁁OERQXHMaZGEHiHaQUKUQSFXSTUH‹GEHCUKSRFQEHZQjGUEFHiHUDFFQHUQ‼FS[QEH⁈SPQKRFDEPH[Q[QEHPSQH⁂SE‹QKXQSZJE[HSEHPDRH⁇QSTUH⁅‿JE[⁆H›DKEGR [QXQSRFQF`HPQRH⁅‿KJPQKH›DKEG⁆`HjSQHPQKHVFDDFRTUQ‼HZQSHRQSEQEHMEUcE[QKEHUSQ⁄‽HhDHPSQH⁀SQPQKXcEPQKHJEFQKHPQEHCUKSRFQEH‹GEHMaZGEHQSERFHPQE ›QKEHSUKQKH›GXGESDXFKJWWQHKQ_KJFSQKFHUDFFQE`HdG[QEHRSTUHPSQH›caW‼QHXDE[QHUSEHJEPHQEPQFQEHaSFHQSEQKHaDRRS‹QEHMJRjDEPQKJE[HPSQRQKHbSEPQKUQSF SEHPSQHEQZXS[Q`HFKSRFQH8DEPRTUD‼FH‿DFD‹SQER‽ VQXZRFHLD‹DHjDKHdJH⁃QEQKH9QSFHXcE[RFHESTUFHZQ‼KSQPQF‽HYQ[QEHPSQHRc_JXDKQH⁇QWJZXS_HVJ_DKEGRHUDFFQEHRSTUHaJRXSaSRTUQH\DKFSRDEQE[KJWWQE ‼GKaSQKF`HPSQH‹GKHDXXQaHPQEHjQRFXSTUQEH:QSXHPQKHOERQXH‹QKJERSTUQKFQE‽HMJ‼HJERQKQKH‿DUEKQSRQH‹GEHLD_DKFDHEDTUH‿DEPJE[`HjGHPSQHkGXXcEPQKHRSTU SEH[‾ERFS[QKHk7UQEXD[QHQSERFH‹GEHPQKHRTUj‾XQEHkSFdQHPQKH›‾RFQHQKUGXFQE`HRFDEPQEHjSKHJEFQKHaSXSFcKSRTUQaHVTUJFd‽H⁂SEH[QWDEdQKFQKH⁈D[[GEHaSF RTUjQKQEHbDRTUSEQE[QjQUKQEHjDKH‹GKHPSQH8G_GaGFS‹QH[Q_GWWQXFHjGKPQE`HJEPHQSEQHcUEXSTUQHKGXXQEPQH※QRFJE[HZSXPQFQHPDRH⁂EPQHJERQKQR ›GE‹GSR‽HhSQHaJRQXaDESRTUQEHYXDJZQER_caW‼QKHUDFFQEHRSTUHJEFQKHPQaH⁀DaQEH⁅hDK⁁JX⁁ORXDa⁆HdJRDaaQE[QRTUXGRRQEHJEPHRFDEPQEHFQSXjQSRQ
JEFQKHPQaH‿Q‼QUXHQSEQRHQUQaDXS[QEH⁉‼‼SdSQKRHPQKHESQPQKXcEPSRTUQEH›GXGESDXDKaQQHEDaQERH⁈QRFQKXSE[`HPQKHdJaH_GKDESRTUQEHYXDJZQE ‾ZQK[QFKQFQEHJEPHjQ[QEHRQSEQKH※KQJPQHDaH‿XJF‹QK[SQ⁄QEHZQK‾TUFS[FHjDK‽ ‿QSHPQKHEQJQEHVFDDFRPG_FKSEHOEPGEQRSQER`H⁅\DETDRSXD⁆H[QEDEEF`H⁃QEQEH‼‾E‼H\KSEdSWSQE`HPSQHVJ_DKEGHQEFjGK‼QEHUDFFQ`HUDEPQXFQHQRHRSTUHJaHQSE YQaSRTUH‹GEHG‼‼SdSQXXQKH:GXQKDEdHJEPH[QZSQFQKSRTUQKHVFDDFRKDSRGE‽H‿QaQK_QERjQKFHjDKHPSQHYXQSTURFQXXJE[HPQKH‼‾E‼H[KG⁄QEH⁇QXS[SGEQE;HPQRHORXDa` PQaHEQJEdS[H\KGdQEFHPQKHOEPGEQRSQKHDE[QU7KFQE`HPQRH‿JPPUSRaJR`HPQRHkSEPJSRaJRHRGjSQHPQKHTUKSRFXSTUQEH›GE‼QRRSGEQEHPQKH›DFUGXS_QEHJEP \KGFQRFDEFQE‽HhDdJH[QRQXXFQEHRSTUHPDRH‿Q_QEEFESRHdJKHhQaG_KDFSQHJEPHPDRHdjSE[QEPQHYQZGFHPQKHEDFSGEDXQEH⁂SEUQSF`HPDRH⁃QPQEHFQKKSFGKSDXQE NQKdSTUF`H⁃QPQH※GKaH‹GEHVQWDKDFSRaJRHDJRRTUXG⁄HJEPHPSQH9J[QU7KS[_QSFH⁈QRF⁁⁀QJ[JSEQDRHdJKH⁇QWJZXS_H‹GEHLD_DKFDH_DFQ[GKSRTUH‼GKPQKFQ‽ MJRHPSQRQaH\KG[KDaa`HPDRHdJaSEPQRFHSEHPQKH:UQGKSQHQSEQHKQWKcRQEFDFS‹QH⁇Q[SQKJE[HJEPHRGdSDXQHYQKQTUFS[_QSFHDEaDUEFQ`H[SE[HSaaQKUSE UQK‹GK`HPD⁄HPSQHOPQDXQHPQKHQJKGWcSRTUQEHMJ‼_XcKJE[HRQXZRFHSEHPQEH‹GaH›GXGESDXSRaJRHRTUGEJE[RXGRH‹QK[QjDXFS[FQEH:QKKSFGKSQEHPSQ KQ‹GXJFSGEcKQEH⁂XSFQEHJEPHPSQHQSEUQSaSRTUQHOEFQXXS[QEdS⁃DHWGRSFS‹HJEPHEDTUUDXFS[HSERWSKSQKFHUDFFQE‽ OEH⁃QEQEH:D[QEHZQKQSFQFQHRSTUH‿DEPJE[HDJ‼HPSQHMZUDXFJE[HPQKHQKHRFQEH›GE‼QKQEdH‼‾KHD‼KS_DESRTU⁁DRSDFSRTUQHVGXSPDKSFcFH‹GK`HPSQHQSEHLDUKHRWcFQK JEFQKHPQKHVTUSKaUQKKRTUD‼FHVJ_DKEGRHdJRDaaQEFKDFHJEPHRSTUHDXXacUXSTUHDXRH‿QjQ[JE[HPQKH⁅‿XGT_‼KQSQE⁆H‼GKaSQKFQ‽H⁀GTUH‹QKUDKKFQHSEHPQK SP^XXSRTUQEHYDKFQERFDPFH‿DEPJE[`HPSQHUQJFQHdJHQSEQaHbGERFKJaH‹GEHQSEQKHbSXXSGEHbQERTUQEHDE[QRTUjGXXQEHSRF`HQSEQH_XQSEQHVTUDK ESQPQKXcEPSRTUQKH›DJ‼XQJFQHJEPHWQERSGESQKFQKH‿QDaFQK‽HVSQHZQKQSFQFQEHRSTUHDJ‼HPSQH⁇‾T__QUKHSERHbJFFQKXDEPH‹GKHJEPHQKSEEQKFQEHRSTUHaSFH⁈QUaJF DEHPSQH9QSF`HPDH‿DEPJE[HDXRH⁅⁃D‹DESRTUQRH\DKSR⁆H[Q‼QSQKFHjJKPQ‽HbDETUQHPQKHMEjQRQEPQEHUDFFQEHQSEUQSaSRTUQH※KDJQEH[QUQSKDFQF‽ OTUH‼DEPHRTUEQXXH9J[DE[HdJHPSQRQKH_XQSEQEH⁇QRF[KJWWQ`HPSQHRSTUH[QKDPQHdJHQSEQKHkGTUdQSFH‹QKRDaaQXFHUDFFQ‽HOEH⁃QPQaHdJ[QKQSRFQEH⁃JE[QE ⁂JKGWcQKHRDUQEHRSQHQSEQEHNQKZ‾EPQFQEHJEPHQSEQEHWGFQEFSQXXQEH⁂UQWDKFEQKH‼‾KHSUKQH:7TUFQK‽HhSQHDFFKD_FS‹QH‿KDJFHPQRH:D[QR`HaSFHXQSTUFQa aDXDSSRTUQaH⁂SERTUXD[`HFKJ[HPQEHRTU7EQEH⁀DaQEHbDKSDH8DEPjQUK‽HhSQH:KDJJE[HjJKPQH‹GEHQSEQaHYQSRFXSTUQEHPQKH⁇Q‼GKaSQKFQEH›SKTUQ ‹GK[QEGaaQE`HJEPHEGTUHQSEaDXH_DaHPSQHZSQPQKQ`HQFjDRHRWSQ⁄S[QHMFaGRWUcKQHPQKHQSERFHRGHRQXZRFZQjJ⁄FQEH⁅⁂=WDFKSDFQR⁆HDJRHkGXXDEPHDJ‼‽ ⁈SQPQKH‹QKRW‾KFQHSTUHPQEHaGPKS[QEHYQKJTUHdQK‼DXXQEPQKHQJKGWcSRTUQKHbDTUF‽ hSQHRTUXc‼KS[QHVFDPFH‿DEPJE[`HjGHPSQHjQS⁄QEHNSXXQEHPQKH›GXGESRDFGKQEHEGTUHSEHPSQH[K‾EQHk‾[QXXDEPRTUD‼FHQSE[QZQFFQFHjDKQE`HRGXXFQHaSFHQSEQa VTUXD[HUSRFGKSRTUQH‿QPQJFJE[HQKXDE[QE‽HhQKH‿Q[KS‼‼H⁅hKSFFQH⁈QXF⁆HjJKPQHPGKFHQK‼JEPQE‽HhSQH‼DKZS[QHbQERTUUQSFHMRSQERHJEPHM‼KS_DR`HPSQHRSTUHaSF PQKHYK‾EPJE[HQSEQKH⁇QSUQHJEDZUcE[S[QKHVFDDFQEHJEPHPQKHYQZJKFHEQJQKH⁀DFSGEQEHPJKTU[QRQFdFHUDFFQ`HjDKHEJEaQUKHQS‼QKR‾TUFS[HPDKDJ‼HZQPDTUF` PD⁄HRSQHESTUFHSaH9J[QHPQRHRSTUH‹QKRFQS‼QEPQEH⁉RF⁁⁈QRF⁁›GE‼XS_FRHSEHQSEQHEQJQH※GKaH‹GEHMZUcE[S[_QSFHGPQKH›EQTUFJE[HPJKTUHPSQHjQS⁄QE kQ[QaGESDXacTUFQH[QKSQF‽H\KcRSPQEFHVJ_DKEGHUDFFQHZQSHPQKH※GKaSQKJE[HPSQRQKHMXXSDEdHQSEQHaD⁄[QZXSTUQH⁇GXXQH[QRWSQXF`HJEPHQRHjDKHSUa [QXJE[QE`HRGHZQDTUFXSTUQH\DKFEQKHjSQHOEPSQEHJEPHPSQHNGX_RKQWJZXS_HCUSEDHSEHRQSEHjQSF[QRWDEEFQRH›GE[XGaQKDFHQSEdJZQdSQUQE‽ hSQHVFG⁄KSTUFJE[HjDKHQSEPQJFS[;H⁂RH[SE[HPDKJa`HPSQHWGXSFSRTUQHJEPH_JXFJKQXXQHhGaSEDEdHPQRH⁅jQS⁄QEHbDEEQR⁆HDZdJRTU‾FFQXE`HGZHRSQHEJE QSEQH⁀DTUjSK_JE[H‹QKZXSTUQEQKHQJKGWcSRTUQH›GXGESRDFSGEHjDKHGPQKHGZHRSQHRSTUHZQKQSFRHPQRHSPQGXG[SRTUQEH›GE‼XS_FQRHdjSRTUQEH⁈DRUSE[FGEHJEP bGR_DJ`HPQKH›GE‼KGEFDFSGEHdjSRTUQEH›GaaJESRaJRHJEPH›DWSFDXSRaJRHZQPSQEFQ`HJaHKJEPHJaHPQEH⁂KPZDXXHNQKZ‾EPQFQHJEPH:KDZDEFQEHdJ aGZSXSRSQKQE‽HbDEHjGXXFQHRSTUHESTUFHQSEQaHEQJQEH⁀QFdjQK_H‹GEHMZUcE[S[_QSFHJEPH›EQTUFJE[HDJRXSQ‼QKEHJEPH‹QKUSEPQKE`HPD⁄HPQKH>ESGEHLDT_ JEPHPSQH:KSTGXGKQH‹GEHQSERFHPJKTUH⁅VFDKRHDEPHVFKSWQR⁆HJEPH⁅kDaaQKHJEPHVSTUQX⁆HQKRQFdFHj‾KPQE‽ MaHQKRFQEH:KQ‼‼QEHSEH‿DEPJE[HDFHHHUDZQHSTUHESTUFHFQSXEQUaQEH_7EEQE`HDZQKHQSEHWDDKHLDUKQHRWcFQKHQKXQZFQHSTUHSEH‿QX[KDPHPQEHk7UQWJE_F PSQRQKHZJEF[QRTUQT_FQEHMXXSDEdHPQKHhKSFFQEH⁈QXF`HPSQHiH‹GEHRQUKHJEFQKRTUSQPXSTUQEH›GEdQWFQEHDJR[QUQEPHiHPQKH>FGWSQHRTUKDE_QEXGRQK VQXZRFZQUDJWFJE[HJEPHVQXZRFZQRFSaaJE[HSEHQSEQKHdjQS[QFQSXFQEH⁈QXFHPQKHkQ[QaGEQEHDEUSE[HJEPHRSTUHdJKH※GKaQXHQSEQRHFJ[QEPUD‼FQE ⁀QJFKDXSRaJRHZQ_DEEFQ‽ ⁂RHjDKHQSEHQSEPKJT_R‹GXXQRHVWQ_FD_QX`HDXRHPSQHaDXQKSRTUH_GRF‾aSQKFQEHhQXQ[DFSGEQEHDEHQSEQaHUQS⁄QEHRQKZSRTUQEHVGaaQKFD[HPSQHVFJ‼QEHPQK ⁅hJaD⁆H‹GEH‿QX[KDPHQK_XGaaQE‽HMEHSUKQKHVWSFdQHZQ‼DEPQEHRSTUHRGHSXXJRFKQHYQRFDXFQEHjSQHPQKHOEPQKHLDjDUDKXDXH⁀QUKJ`HPQKHOEPGEQRSQKHMUaQP VJ_DKEG`HPQKHYUDEDQKH›jDaQH⁀_KJaDU`H›DSRQKHkDSXQHVQXDRRSQH‹GEHJFUSGWSQE`HPQKHc[^WFSRTUQH⁇DSRHYDaDXHMZPQXH⁀DRRQK`HPQKH›GE[GXQRQHMEFGSEQ YSdQE[DHJEPHiHDXRH⁇QWKcRQEFDEFHPQKHNGX_RKQWJZXS_HCUSEDHiHPQKHbDG⁁NQKFKDJFQH9UGJH⁂EXDS‽ hSQHbGERFQK‹QKDERFDXFJE[H‼DEPHDJ‼HQJKGWcSRTUQaH‿GPQEHDaH>‼QKHPQKHVD‹QHRFDFF`HDZQKHDXRHQSEdS[QKH⁂JKGWcQKHZQFKDFHPQKH⁃J[GRXDjSRTUQ VFDDFRTUQ‼HbDKRTUDXXH:SFGHPSQH⁇QPEQKFKSZ‾EQ‽HMXRHNQK‼QTUFQKHDZQEPXcEPSRTUQKHOEFQKQRRQEH_GEEFQHPSQRQKH_GaaJESRFSRTUQHbDTUFaQERTU`HPQKHkSFXQK JEPHVFDXSEHQK‼GX[KQSTUH[QFKGFdFHUDFFQ`H⁃QPGTUHRTUjQKXSTUHQSE[QGKPEQFHjQKPQE‽ OEHaQSEQKH⁂S[QERTUD‼FHDXRHM‼KS_D_GKKQRWGEPQEFHPQKHM⁇hHjDKHSTUHDFKDHEDTUH‿QX[KDPH[QKQSRF`HRWSQXFQHPGTUHPGKFHPSQH›GE[G_KSRQ`HDEHPQKHPSQ >⁀⁉HhD[HkDaaDKR_⁃7XPRHRGH_Xc[XSTUHRTUQSFQKEHRGXXFQ`HQSEQH‹GKKDE[S[QH⁇GXXQ‽H※DRFHRTUSQEHQR`HDXRHRTUjQZQHPDRHYQRWQERFHPQRH›GE[GXQRQEH\DFKSTQ 8JaJaZD`HPQRHQKaGKPQFQEHNGK_caW‼QKRHRTUjDKdQKH⁂aDEdSWDFSGE`H‾ZQKHPQaH\DKXDaQEFR[QZcJPQH‹GEH‿QX[KDP‽H‿QSHVGEEQEJEFQK[DE[HjDKHSTU aSFHPQaH›GXXQ[QEH>XKSTUHVTUSXXQK`HPQKH‼‾KHPSQH‿DX_DE⁁‿QKSTUFQKRFDFFJE[HdJRFcEPS[HjDK`HDJ‼HPQEH※QRFJE[RjcXXQEHPQKHDXFQEH:‾K_QEZJK[ ›DXQaQ[PDEHRWDdSQKQE[Q[DE[QE‽HhDRH‿GXXjQK_HjDKHQKRFHPJKTUHPQEH\KSEdQEH⁂J[QEHPQaH⁉RaDESRTUQEH⁇QSTUHQEFKSRRQEHjGKPQE‽H⁀DTUHPSQRQK ⁀SQPQKXD[QH[SE[HQRHaSFHPQaHOaWQKSJaHPQRHVJXFDERHJEPH›DXS‼QEHJEDJ‼UDXFRDaHZQK[DZ‽ ME[QRSTUFRHPQKHZJEFQEHMERDaaXJE[H‼KQaPKDRRS[QKH\GFQEFDFQEHJEPHVFDDFRXQE_QK`HPSQHRSTUHUSQKHQSEHVFQXXPSTUQSEH[DZQE`HDE[QRSTUFRHQSEQK PDaDXRHEGTUHjQSFH‾ZQKRTUcFdFQEH›GUcRSGEHPQKHSEHYcKJE[HZQ‼SEPXSTUQEHhKSFFQEH⁈QXF`HUDFFQEHjSKHPDK‾ZQKHKQ‼XQ_FSQKF`HGZHRSTUHESTUFHQSEHEQJQKHVFJKa DJ‼HPDRHMZQEPXDEPHDEZDUEFQ`HcUEXSTUHPQaH※QXPdJ[HVJXQSaDEHPQRH\KcTUFS[QE`HPQRRQEHLDESFRTUDKQEHQSERFHZSRHDEHPSQH:GKQH⁈SQERH‹GKPKDE[QE‽
hQKHXcTUQXEPQHYQEQKDX OEH⁃QEQaH‼QKEQEHVGaaQKHDFHGHZGFHRSTUHaSKHPSQHYQXQ[QEUQSF`HPQEHYQEQKDXRQ_KQFcKHPQKH›GaaJESRFSRTUQEH\DKFQS`HhSWDH⁀JRDEFDKDHMSPSF` _QEEQEdJXQKEQEHJEPHaSFHSUaHQSEHYQRWKcTUHdJH‼‾UKQE‽HVQSEH‿‾KGHjDKHSK[QEPjGHdjSRTUQEHPQEHRFSE_QEPQEH›DEcXQEHPQKH_GXGESDXQEHMXFRFDPF JEFQK[QZKDTUF`HPSQHaSFHPQEHYKDDTUFQEHPQKHESQPQKXcEPSRTUQEHVFcPFQHXQSPQKHESTUFHdJH‹QK[XQSTUQEHjDKQE‽ hQKHEGTUH⁃JE[QH›GaaJESRFQE‼‾UKQKHMSPSFHUDFFQHaSTUHPJKTUHRQSEQH[QjDEPFQEH>a[DE[R‼GKaQEHJEPHRQSEQHSEFQXXS[QEFQHMK[JaQEFDFSGE ZQQSEPKJT_F‽H⁂KHUcFFQHdjQS‼QXXGRHPDRH9QJ[HdJHQSEQaHTUDKSRaDFSRTUQEHNGX_RUQXPQEHZQRQRRQE‽HhSQHjQES[RFQEHUcFFQEHPDaDXRH‹GKDJR[QRD[F`HPD⁄ RQSEHacTUFS[QKHR‾PGRFDRSDFSRTUQKH9jQS[HPQKH⁈QXFKQ‹GXJFSGEHdQUEHLDUKQHRWcFQKHSEHQSEQaH[KDJQEUD‼FQEH\G[KGaHJEFQK[QUQEHj‾KPQ‽
MJRHPQaHDEFS_GaaJESRFSRTUQEH\KGEJETSDaQEFGHPQRHLDUKQRHDFKH`HPDRHdJKH⁂EFaDTUFJE[HMUaQPHVJ_DKEGRH‼‾UKFQ`H[SE[HPQKHCUQ‼HPQK ⁂SERDFdFKJWWQE`HYQEQKDXHkDP⁃SHbGUDaaQPHVJUDKFG`HDXRHJEDE[Q‼GTUFQEQKHbSXSFcKPS_FDFGKHOEPGEQRSQERHUQK‹GK‽HhSQHDaQKS_DESRTUQE`HZKSFSRTUQE JEPHDJRFKDXSRTUQEHYQUQSaPSQERFQHjDKQE`HjSQHRSTUHUQKHDJRRFQXXQEHRGXXFQ`HDEHPSQRQaH\JFRTUHPSR_KQF`HDZQKHjSK_RDaHZQFQSXS[F‽ bSFHVSTUQKUQSFH_DaHPQKHKDPS_DXQHWKGjQRFXSTUQH›JKRjQTURQXHLD_DKFDRHPQKHVFKDFQ[SQH⁈DRUSE[FGERHcJ⁄QKRFH[QXQ[QE‽H※DRFHdJaH[XQSTUQEH9QSFWJE_F UGXFQEHPSQHDaQKS_DESRTUQEHVFKQSF_Kc‼FQHEcaXSTUHaSFHjDTURQEPQaHFQTUESRTUQaHJEPHWQKRGEQXXQaHMJ‼jDEPHdJHSUKQaH‹QKUcE[ESR‹GXXQEHMZQEFQJQK SEHNSQFEDaHDJR‽HhDRH\QEFD[GEHjDKHZKQEEQEPHPDKDEHSEFQKQRRSQKF`HPD⁄HDEHPQKHV‾P‼XDE_QHRQSEQRH⁂E[D[QaQEFRHSEHOEPGTUSEDH_QSEHEQJFKDXSRFSRTUQR` aSFH›GaaJESRFQEHWD_FSQKQEPQRH⁇Q[SaQHDaH⁇JPQKHZXSQZ‽ hSQHDJFGKSFcKQHVFDDFR‼‾UKJE[HPQRHMKaQQ‼‾UKQKRHVJUDKFG`HPQKHZQSHDXXQKH>EQKZSFFXSTU_QSFHRQSEQKH⁇QWKQRRSGEHRFQFRHQSEH‼KQJEPXSTUQRHYQRSTUFHdJK VTUDJHFKJ[HJEPHPQEH⁀DaQEH⁅FUQHRaSXSE[HYQEQKDX⁆HFKJ[`HRGXXFQHPQKH>V⁁›KSQ[‼‾UKJE[HSEHNSQFEDaHPQEH⁇‾T_QEH‼KQSHUDXFQEHJEPHQSEH‿GXXjQK_HPQK VFDZSXSFcFH[QjcUKQE‽ L OaHMJ[JRFHDFHGHUDFFQHSTUHaSTUHESTUFHXDE[QHSaHSEPGEQRSRTUQEH‿DEPJE[HDJ‼[QUDXFQE‽HbSFHPQKH⁂SRQEZDUEHQKKQSTUFQHSTUHPSQHDXFQH›7ES[RRFDPF ]G[^D_DKFD`HPSQHDXRHUSRFGKSRTUQRHJEPH_JXFJKQXXQRHkQKdHLD‹DRH[SXF‽HOTUHFKD‼HPGKFHdJaH9QSFWJE_FHQSEQRHSRXDaSRTUQEH※QRFQRHQSE`HPDRHJEFQKHPQaH⁀DaQE ⁅VQ_DFQE⁆HZQ[DE[QEHjJKPQ‽H⁂KRFHRWcFQKHQEFPQT_FQHSTU`HPD⁄HPQKHMJRPKJT_HVQ_DFQEHQSEQKHNQKZDXXUGKEJE[HPQRHDKDZSRTUQEH⁈GKFQRH⁅VTUDUDPDFDES⁆ QEFRWKDTU`HPQaHPGWWQXFQEH‿Q_QEEFESRHdJKH⁂SEdS[_QSFHMXXDURHJEPHdJKHMJFGKSFcFHRQSEQRH\KGWUQFQEHbGUDaaQP‽ OaHPDaDXS[QEHVFKD⁄QEZSXPH‹GEH]G[^D_DKFDHjDKHaSKHZQKQSFRHDJ‼[Q‼DXXQE`HPD⁄H‹SQXQH※KDJQEHPQEH⁅kS⁃DZ⁆`HPQEHVTUXQSQK`HFKJ[QE`HjDRHSEHLD_DKFD JEPHPQEH‾ZKS[QEH8DEPQRFQSXQEHEGTUHPSQHMJREDUaQHjDK‽HhDRH※QRFHiH‹GaH_XSaWQKEPQEHVWSQXHPQKHYDaQXDEHJEPH‼QSQKXSTUQKH⁇QdSFDFSGEH‹GEH›GKDE⁁ VJKQEHZQ[XQSFQFHiHQEF‼DXFQFQHQSEQHacKTUQEUD‼FQHGKSQEFDXSRTUQH\KDTUF‽ OaHbSFFQXWJE_FHPQKH9QKQaGESQHRFDEPHPSQHSEHYGXPZKG_DFH[QU‾XXFQH\QKRGEHPQRHVJXFDERHkDaQE[_JZJjGEGHOB‽HhSQRQKH※‾KRFHjDKH_XJ[H[QEJ[ [QjQRQE`HKQTUFdQSFS[H‼‾KHPSQHEDFSGEDXSRFSRTUQH⁇Q‹GXJFSGEH\DKFQSHdJHQK[KQS‼QE`HJEPHjJKPQH‹GaHVFDDFR[K‾EPQKHVJ_DKEGHdJaHNSdQWKcRSPQEFQEHPQK ⁇QWJZXS_HOEPGEQRSQEHZQKJ‼QE‽HhSQHVQ_DFQE⁁\KGdQRRSGEHZQjQ[FQHRSTUH‹GaH›KDFGE`H‹GaH\DXDRF`HdJKH※KQSFD[RaGRTUQQ`HJEPHaSKHRTUSQEHQR`HDXR ZXQSZQHUSQKHPDRHRFKQE[Q`H_DK[QH⁇SFJDXHPQKHSRXDaSRTUQEHYQZQFR‾ZJE[HEGTUHQE[H‹QKjGZQEHaSFHPQEHWGX^FUQSRFSRTUQEHb^FUQEHPQRHkSEPJSRaJR`HPQK dJKH9QSFHPQKH[KG⁄QEHaDXDSSRTUQEHOERQXKQSTUQHPSQHYQRQXXRTUD‼FRRFKJ_FJKQEHLD‹DRHEDTUUDXFS[H[QWKc[FHUDFFQ‽ hQKHVJXFDEHRQXZRFHFKDFHZQSHDXXQKH_GKDESRTUQEH⁇QTUF[XcJZS[_QSFHaSFHPQEHWKJE_‹GXXQEHMXX‾KQEHQSEQRH⁇D⁃DUHDJ‼HJEPHaGTUFQHSaH>EFQKZQjJ⁄FRQSE PQRHNGX_QRHjQSFQKUSEHDXRH⁈SQPQK[QZJKFHNSRTUEJRHGPQKHVTUS‹DRH‹QKQUKFHjQKPQE‽H⁀SQaDEPHUcFFQHRSTUHSEH⁃QEQKHVFJEPQH‹GKRFQXXQEH_7EEQE`HPD⁄HPSQRQ ‼KGaaQ`HSEHKQRWQ_F‹GXXQKH⁂UK‼JKTUFHQKRFDKKFQHbQERTUQEaDRRQHdQUEHLDUKQHRWcFQKHQSEQaH[KDJQEUD‼FQEH‿XJFKDJRTUH‹QK‼DXXQEHJEPHJEFQKHMERFS‼FJE[ PQKHSRXDaSRTUQEHLJ[QEPGK[DESRDFSGEH⁅MERDK⁆HQSEH‼‾KTUFQKXSTUQRHYQaQFdQXHJEFQKHPQEHDE[QZXSTUQEHVFDDFR⁁‼QSEPQEHJEPH›GaaJESRFQEH‹QKDERFDXFQE j‾KPQ‽
⁂KjDTUQEHPQKHVTUKS‼F[QXQUKFQE ⁂SEHUDXZQRHLDUKUJEPQKFHSRFHRQSFHPQaH⁃D‹DESRTUQEH9DJZQKHPQRHVQ_DFQE⁁※QRFQRH‹GEHDFHGHDEHaSKH‹GKZQS[QKDJRTUF`HJEPHSTUHZQ‼SEPQHaSTUHjSQPQKHSa OEEQEUG‼HPQRH›KDFGEHPQRHVJXFDERH‹GEH]G[^D_DKFD‽H9JHRWcFQKHVFJEPQ`HDZQKHSEHDXXQKHI‼‼QEFXSTU_QSFH‼SEPQFHQSEQHMJ‼‼‾UKJE[HPQRHDXFUQK[QZKDTUFQE VTUDFFQEFUQDFQKR`HPQRH⁈D^DE[H›JXSF`HRFDFF‽HhSQHWXDFFQEH※S[JKQEHRSEPHDJRH‿‾‼‼QXXQPQKH[QRTUESFFQEHJEPHZQ[Q[EQEHPQaH9JRTUDJQKHaSFHRQXFRDa ‹QKdQKKFQaH\KG‼SX`HaSFH‹GKRFQUQEPQKH⁀DRQ`HZSdDKKQaH›GW‼RTUaJT_HJEPHRWSEPQXP‾KKQEHYXSQPaD⁄QE‽HbSKHUDFFQEHPSQH\JWWQE`HPSQHDJ‼H‹SQXQE bcK_FQEH‼QSX[QZGFQEHjQKPQE`HESQHRGEPQKXSTUH[Q‼DXXQE‽ hGTUHDEHPSQRQaH›DK‼KQSFD[DZQEPHZQXQZQEHRSQHRSTU`H‹GEHQSEQKHRWcKXSTUQEH8DaWQHSaHkSEFQK[KJEPHDE[QRFKDUXF`HaSFHQSEPKJT_R‹GXXQKHYQRFS_HUSEFQK PQaHDJ‼[QRWDEEFQEHVTUSKa‽H⁈DRHUSQKHPDK[QRFQXXFHjSKP`HSRFHPSQHDXFSEPSRTUQHVD[QEjQXFHPQRH⁇DaD^DEDHJEPHPQRHbDUDHZUDKDFD‽HhSQH⁀DaQEHJEP :DFQEHPQKHkQKGQEHGPQKHhcaGEQEHRSEPH⁃QPQaHLD‹DEQKH‹QKFKDJF‽HhDRHOEFQKQRRQHJEPHPSQHMEFQSXEDUaQHPQRHNGX_QRHDaHVTUST_RDXHPSQRQKH‼QKEQE` P‾RFQKQEH8Q[QEPQE[QRFDXFQE`HPSQHDJRHQSEQaH[DEdHDEPQKQE`HPQaHDKSRTU⁁SEPSRTUQEH›JXFJK_KQSRHSaWGKFSQKFHjJKPQE`HPSQH※KQJPQHDEHSUKQEH›caW‼QE JEPH8QSPQERTUD‼FQEHQKa‾PQEHG‼‼QEZDKHESQ‽HhSQHMJ‼‼‾UKJE[HPQRH⁈D^DE[H›JXSFHZQ[SEEFHEcaXSTUHSEHPQKH⁇Q[QXHDaH‼K‾UQEHMZQEPHJEPHPDJQKFHZSRHSE PSQHbGK[QERFJEPQEHPQRH‼GX[QEPQEH:D[QR‽ hSQHVTUSXPQKJE[HJEPHPSQHhSDXG[QHPQKHDXF‾ZQKXSQ‼QKFQEHNGK[cE[QHjQKPQEH‹GEHPQaHESQHQKXDUaQEPQEH\JWWQERWSQXQK`HPQaHhDXDE[`HSE jQTURQXEPQE`HDJTUHjQSZXSTUQEH:GEXD[QEHKQdSFSQKF‽H⁂RHUQS⁄F`HPD⁄HPQKHhJKTURTUESFFR⁁LD‹DEQKHUQJFQHEGTUHPSQHD_FJQXXQEHWGXSFSRTUQEH⁂KQS[ESRRQ JEZQjJ⁄FHDJ‼HPDRHYQZDKQEHPQKHkQXPQEHJEPH>E[QUQJQKH‹GEHQSERFH‾ZQKFKc[F‽HkSEFQKH⁃QPQaHYQRTUQUESRHPQKHYQ[QEjDKFH‹QKaJFQHQKHPSQ [QUQSaESR‹GXXQHM_FSGEHQSEQRHJERSTUFZDKQEHhKDUFdSQUQKR`HQSEQRH\JWWQERWSQXQKR‽HhQKHhDXDE[HSRFHQSEQaHjQSF‹QKZKQSFQFQEHMZQK[XDJZQEHdJ‼GX[QHaSF 9DJZQK_Kc‼FQE`HdJaSEPQRFHaSFHaD[SRTUQaH⁈SRRQEHDJR[QRFDFFQF‽ ⁈DKJaHSTUHRGHDJR‼‾UKXSTUHDJ‼HPSQRQHUQSPESRTUQEH‿KcJTUQHdJHRWKQTUQEH_GaaQ`HPSQHPQEHRFKQE[QEHL‾E[QKEHPQKHSRXDaSRTUQEHVDXD‼S^DHjSQ :QJ‼QXRdQJ[`HjSQH⁅›J‼K⁆`HjSQHV‾EPQHjSPQKHPSQHKQSEQH8QUKQHPQRH›GKDERHQKRTUQSEQEHa‾RRQECHMEHPQEHORXDa`HjSQHQKHSEHOEPGEQRSQEH‹GEHPQKHjQSFDJR RFcK_RFQEHbQERTUQEZDXXJE[HPQKH[QRDaFQEH>aaDHWKD_FSdSQKFHjSKP`H_E‾W‼FHRSTUHEcaXSTUHPSQHkG‼‼EJE[H‹SQXQKHjQRFXSTUQKHOEFQKWKQFQE`HDJ‼HLD‹D UQKKRTUQHPGTUHQSEQHR^E_KQFSRFSRTUQ`HQ=FKQaHFGXQKDEFQH※GKaHPQKH⁇QXS[SGERDJR‾ZJE[H‹GK`HPSQHQSEQRH:D[QRHPSQHJEQKZSFFXSTUQEHMEUcE[QKHPQKHVTUDKSD JEPHPQRHKDPS_DXQEHLSUDPSRaJRHdJK‾T_PKcE[QEH_7EEFQHJEPHPSQHdJaSEPQRFHZQjQSRQ`HPD⁄HPSQHKQXS[S7RQEH⁂=dQRRQ`HPSQHPDRH:KQSZQEHPQKH:DXQZDEHJEP bGRXQaZK‾PQKHSEHNQKKJ‼H[QZKDTUFHUDZQE`HEJKHQSEHRQUKHWDKFSQXXQKHMRWQ_FHPSQRQKHjQXFJaRWDEEQEPQEH8QUKQHRSEP‽ hQKHM[KGEGaHOWDE[`HPQaHSTUHaSTUHDXRHbQEFGKHDE‹QKFKDJFHUDZQ`HZQRSFdFHXQSPQKHEJKH[QKSE[QRHFUQGXG[SRTUQRH⁈SRRQE‽H⁂KHSRFHQSEH‾ZQKDJR ‹QKR7UEXSTUQKHbJRXSaHJEPH‹QKaQK_FHaSFH‿Q‼KSQPS[JE[`HPD⁄HZQSHPQKHZQ‹GKRFQUQEPQEH\DKXDaQEFR⁁HJEPH\KcRSPSDXjDUXHPQKHaGPQKDFQHVFDDFRTUQ‼ VJRSXGH‿DaZDE[H]JPUG^GEGHJEPHRQSEQHhQaG_KDFSRTUQH\DKFQSHPSQHjQSFDJRHZQRFQEHCUDETQEHUDZQE‽HhSQRQKHQUQaDXS[QHYQEQKDX`H‹GaHNGX_HaSFHPQK MZ_‾KdJE[HV‽H‿‽H]‽HZQEDEEF`H‹QK‼‾[FH‾ZQKHZQDTUFXSTUQH\GWJXDKSFcF‽ OEHVGXGH‼DXXQEHaSKHDJTUHdDUXKQSTUQHZXJFKGFQH\XD_DFQHaSFHPQKHMZZSXPJE[HQSEQRHVFSQKRHDJ‼`HPSQH‼‾KHPSQH\DKFQSHPQRH⁅hQaG_KDFSRTUQEH›DaW‼QR⁆HPQK QUQaDXS[QEH\KcRSPQEFSEHbQ[DjDFFSHVGQ_DKEGWJFKSHjQKZQE‽HhQKH※DaSXSQEEDaQHjQSRFHRSQHDXRH:GTUFQKHPQRHVFDDFR[K‾EPQKRHVJ_DKEGHDJR`HJEPHPQK NGKEDaQHbQ[DjDFFSHjJKPQHSUKHjGUXHDXRHMJRPKJT_HPQKHPDaDXS[QEH‿Q[QSRFQKJE[H‼‾KHFQTUESRTUQHbGPQKESRSQKJE[HJEPH⁂XQ_FKS‼SdSQKJE[H‹QKXSQUQE‽
OaaQKUSEHSRFHQRHZQaQK_QERjQKF`HPD⁄HQSEQH※KDJHdjSRTUQEHeffDHJEPHeffGHPDRHU7TURFQHMaFHSEHPSQRQaH‾ZQKjSQ[QEPHSRXDaSRTUQEHVFDDFHDJR‾ZQE _GEEFQ‽H⁈QEEHRSQHRSTUHSEHPSQRQKH\GRSFSGEHESTUFHUDXFQEH_GEEFQ`HRGHRW7FFQXFHOWDE[`HXD[HPDRHDEHSUKQaHbDE[QXHDEHMJRRFKDUXJE[HJEPHQSEQK DE[QZGKQEQEH:Kc[UQSF`HPSQHRSQHjcUKQEPHPQKH›DZSEQFFR⁁HJEPH\DKXDaQEFRRSFdJE[QEHUcJ‼S[HSEHFSQ‼QEHVTUXD‼H‹QKRSE_QEHXSQ⁄‽ hJKTUHQSEHYQjSKKH‹GEHYDRRQEHUDFHOWDE[HaSTUHdJHQSEQKHZQRTUQSPQEQEHbDPKDRRDHaSFHbGRTUQQHJEPHbSEDKQFFH[QXQSFQF`HjGHDE[QZXSTUHQSE ›GKDE[QXQUKFQKHaSFHWKG‼JEPQKH›QEEFESRH‾ZQKHPQEH9JRFDEPHPQKH>aaDHSEHOEPGEQRSQEHKQRSPSQKF‽HOaDaHVGZSKSE`HEQZQEHPQaHSTUHaSTUHDJ‼HQSEQK ‿DRFaDFFQHESQPQK_DJQKQ`HSRFH_QSEH※DEDFS_QK‽H⁂KHQaW‼cE[FHaSTUHaSFH[KG⁄QKHkQKdXSTU_QSF‽HhQKHGG⁃cUKS[QHbDXDSQHSRFH_XQSEH[QjDTURQE‽H9JHRQSEQa jQS⁄QEHYQjDEPHFKc[FHQKHPDRH‾ZXSTUQHRTUjDKdQHVDaF_cWWTUQE‽H>aHPQaHNGKZSXPHPQRH\KGWUQFQEHdJH‼GX[QE`HUDFHQKH‹QKRJTUF`HRSTUHQSEQEH‿DKF jDTURQEHdJHXDRRQE`HDZQKHdJHaQUKHDXRHQSEHWDDKHkDDKZ‾RTUQXEHDaH›SEEHUDFHPSQRQRH‿Qa‾UQEHESTUFH[Q‼‾UKF‽H‿QSaH⁂SEXQSFJE[R[QRWKcTUH‹QKjQSRFHQK PDKDJ‼`HPD⁄HQKHNDFQKH‹GEHdQUEH›SEPQKEHSRF‽H⁂SEQHjQSZXSTUQHMRRSRFQEFSE`HPSQHdJaH‹GK[QRTUKSQZQEQEH›GW‼FJTUHQE[H[QRTUEQSPQKFQHLQDERHFKc[F` RQK‹SQKFHJERH:QQ‽ 9JQKRFHQK_JEPS[FHRSTUHPQKHOaDaHEDTUHPQKH9DUXHPQKHbJRXSaQHSEHhQJFRTUXDEP‽HhDEEHQK_XcKFHQKHaSK`HPD⁄HSEHOEPGEQRSQEHPSQH⁇QTUFRRTUJXQHGPQK ⁅bDPUUDZ⁆HPQKHVTUD‼QSFQEHDaHRFcK_RFQEH‹QKFKQFQEHRQS‽HkSQKHQEF‼DXFQHRSTUH⁃QPGTUHPSQH⁇QXS[SGEHPQRH\KGWUQFQE`H⁂UKQHJEPH8GZHRQSEQaH⁀DaQE`HSE DXXQEHa7[XSTUQEH※DTQFFQE‽HVTUGEHdJKH9QSFHPQKHUGXXcEPSRTUQEH※KQaPUQKKRTUD‼FHUDZQHRSTUHQSEQH⁂KEQJQKJE[RZQjQ[JE[H[QZSXPQF`HPSQHJEFQKHPQa ⁀DaQEH⁅⁀DUPDFHJXH>XDaD⁆HiH⁂KjDTUQEHPQKHVTUKS‼F[QXQUKFQEHiHDEFKDFHJEPHUQJFQHDXRHZQPQJFQEPRFQHSRXDaSRTUQH\DKFQSH‼‾KHQSEQHRQUKH[Qac⁄S[FQ ⁇STUFJE[HRFQUF‽ hDEQZQEHUDFHRSTUHSaH8DJ‼HPQKH9QSFHPSQH⁅bJUDaaDPS^D⁆HDXRH\DKDXXQXGK[DESRDFSGEHUQKDJR[QZSXPQF‽H‿QSHZQSPQEHUQKKRTUFHG‼‼QEZDKHPSQHVGK[QH‹GK` SUKQHRFDDFRFKD[QEPQ`HKQTUFHXSZQKDXQHYKJEPDJRKSTUFJE[H_7EEQHSEH9J_JE‼FH‹GKHDXXQaHZQSHPQEHLJ[QEPXSTUQEHPJKTUHKDPS_DXQHYKJWWSQKJE[QEHDZ[QX7RF jQKPQEHJEFQKHPQaH⁂SE‼XJ⁄H‼SEDEdRFDK_QK`HKDPS_DXQKH⁈DUUDZSFQE⁁\KQPS[QKHDJRHVDJPS⁁MKDZSQE`HPSQH‼‾KHQSEQHKS[GKGRQ`H_GaWKGaS⁄XGRQHMJRKSTUFJE[ DJ‼HPQEH›GKDEHJEPH‼‾KHPSQHRFKS_FQ`H⁃DHQ=dQRRS‹QHMJRXQ[JE[HPQKH_GKDESRTUQEHYQRQFd[QZJE[`HPQKHVTUDKSD`HD[SFSQKQE‽ hSQRQKH⁂EFjST_XJE[HRFQUQHJEFQKHDEPQKQaHPSQHdJaHVc_JXDKSRaJRHEQS[QEPQHVDaaQXZQjQ[JE[HYGX_DKHQEF[Q[QE`HDJ‼HPSQHPQKHbSXSFcKPS_FDFGK YQEQKDXHVJUDKFGHRSTUH[QRF‾FdFHUDFFQHJEPHPSQHZQSHPQEHVFKQSF_Kc‼FQEH‾ZQKHQSEQHZQDTUFXSTUQHMEUcE[QKRTUD‼FH‹QK‼‾[F‽HMJTUHPS‹QKRQH⁅:DKS_DF⁆` a^RFSRTUH[QRFSaaFQH‿KJPQKRTUD‼FQEHGPQKHhQKjSRTU⁉KPQE`HPSQHPQKH_GEFQaWXDFS‹QEHVJ‼S^DHdJ[QKQTUEQFHjQKPQE`HRQSQEH‹GKHDXXQaHDJ‼HPQaH8DEP RFDK_H‹QKFKQFQE‽HhQKQEHVWDEEjQSFQHKQSTUQH‹GEHPQKH⁀DIRTUZDEPS^D`HPSQHSEH9QEFKDXDRSQEHQEFRFDEP`HZSRHdJKH:SP⁃DES^D`HPSQHSaHbD[UKQZH[Q[K‾EPQF jJKPQ‽ JJ⁄QKRFHdJK‾T_UDXFQEPHcJ⁄QKFHRSTUH>RFDdHVGZSKSE`HDXRHSTUHSUEHEDTUHPQEHaSXSFDEFQEHORXDaSRFQEHZQ‼KD[Q‽HhSQHRFDK_QH\KcRQEdHPQKHKDPS_DXQE ⁅LDaDDFHQXHORXDaS^D⁆HSEHVGXGHSRFH‼‾KHPSQHVSTUQKUQSFRPSQERFQH_QSEHYQUQSaESR‽HhSQRQKH‿JEPH‹GEHNQKRTUj7KQKEHjSKZFHSER[QUQSaH‼‾KHPSQH⁂KKSTUFJE[ QSEQRHEQJQEH›DXS‼DFR‽H⁈SQHSUKQHQS‼QKEPQEHYXDJZQERZK‾PQKH‹GEHMTQUHSEH⁀GKPRJaDFKDHjQKPQEHRSQH[QXQ[QEFXSTUHaSFHPQEHD‼[UDESRTUQEH:DXQZDE ‹QK[XSTUQE`HDZQKHRSQHUDZQEHG‼‼QEZDKHDEH9JRFSaaJE[H‹QKXGKQE`HRQSFHSUEQEHPDRHa7KPQKSRTUQHMFFQEFDFH‹GEH›JFDHDJ‼H‿DXSHdJKH8DRFH[QXQ[FHjSKP‽ ⁈QKH_DEEHSaH8DEPHPQKHaD[SRTUQEH\JWWQERWSQXQKHPQEHFDFRcTUXSTUQEHVFDEPHPQRHKQXS[S7RQEH⁂KjDTUQERHQKaQRRQECH⁂SEH›GKRQFFHWJKSFDESRTUQK >EPJXPRDa_QSFHRTUE‾KFHEQJQKPSE[RHPSQRQHYQRQXXRTUD‼FHdJRDaaQE`HSEHPQKHQRH‼K‾UQKH‹GEHZDKZJRS[QEH\KGRFSFJSQKFQEHjSaaQXFQHJEPHPSQ :KDER‹QRFSFQEHiHaQUKUQSFXSTUHQSEQKH[QRGEPQKFQEH›DRFQHDJRH‿DXSHQEFRFDaaQEPHiH‹GKHPQEHMJRXcEPQKUGFQXRHXJE[QKFQE‽H‿QSHDXXQKHbc⁄S[JE[HRGK[F VFDDFRWKcRSPQEFHV‽H‿‽H]‽`HPQKHRSTUHDXRHYQEQKDXHDJ‼HPSQH⁈DUKJE[H‹GEH⁇JUQHJEPH⁉KPEJE[H‹QKRFQUF`H‼‾KHPSQHKQTUFdQSFS[QH⁂SEPcaaJE[HU^RFQKSRTU⁁ ‼JEPDaQEFDXSRFSRTUQKHMJRRTUKQSFJE[QEHJEPHPSQH9cUaJE[HQSEQKHSaH>EFQK[KJEPHGWQKSQKQEPQEH⁅※KGEFHSRXDaSRTUQKHNQKFQSPS[JE[⁆‽ hGTUHPSQHRSTUH‹QKRTUXQTUFQKEPQHjSKFRTUD‼FXSTUQH8D[QH_7EEQHdJKH※GX[QHUDZQE`HPD⁄HPQKH›DaW‼KJ‼HPQRH‿DXS⁁:QKKGKSRFQEHYUJ‼KGEHjSQPQKHaQUK ME_XDE[H‼SEPQF`HDXRHaDEHSEHPQKHDJ[QEZXST_XSTUQEH\UDRQHPQKHYQXDRRQEUQSFHJEPH:GXQKDEdH‹QKaJFQF‽H⁅⁉HSUKHbJRXSaQ⁆`HUDFFQHMXSHYUJ‼KGEHJEFQKHPQa MWWXDJRHRQSEQKH‿QjJEPQKQKHSaHYQKSTUFRRDDXH[QRTUKSQE`H⁅QJQKH8GUEHSRFHLSUDP`HQJKQH⁂UKQHSRFHLSUDP‽H※‾KHQJTUH[SZFHQRH_QSEQEH\XDFdHJEFQKHPQKHVGEEQ` RGXDE[QHSUKHESTUFHPDRHVTUjQKFHRTUjSE[FH[Q[QEHPSQH※QRFJE[QEHPQKH>E[XcJZS[QE`HPQKHMZFK‾EES[QEHJEPHPQKH?ZQXFcFQK‽⁆ NGEHRGXTUQEHMJRZK‾TUQEHUcXFHRSTUHPQKH‼KGaaQH>RFDdHVGZSKSEHjGUXjQSRXSTUH‼QKE‽H?ZQKHQSEQEHMZ[KJEPH_GKDESRTUQKH⁈SRRQERTUD‼FH‹QK‼‾[FHQK G‼‼QEZDKHESTUF‽HVQSEQH8QUKFcFS[_QSFH_GEdQEFKSQKFHRSTUHDJ‼HPQEHkDPSFU`HDJ‼HPSQH‹QKZ‾K[FQH?ZQKXSQ‼QKJE[HDJRHPQaH8QZQEHPQRH\KGWUQFQE‽HMXRHSTU QKjcUEQ`HPD⁄HSTUHSEH>RZQ_SRFDEHDaHYKDZQHPQRH[KG⁄QEH⁂XH‿J_UDKS`HPQRHZQK‾UaFQRFQE`HDXX[QaQSEHDEQK_DEEFQEH‿SG[KDWUQEHJEPHVDaaXQKRHPSQRQK CUKGES_`HJEPHDJTUHDaHacTUFS[QEHVDK_GWUD[HPQRHb^RFS_QKRH⁀DIRTUZDEP`HPQRH⁅YGXPRTUaSQPQRHPQKHVQQXQ⁆`H‹QKjQSXFHUDFFQ`H[QjSEEQHSTU V^aWDFUSQHJEPHkGTUDTUFJE[‽H‿Q‹GKHjSKHJERHFKQEEQE`H‾ZQKKQSTUFHaSKHPQKHOaDaHQSEHRS[ESQKFQRHhG_JaQEFHaSFHPQaHDKDZSRTUQEHNQKaQK_;H⁅QX SREDPHRDUSUHQXHOaDaHQXH‿J_UDKS⁆‽HhDaSFHEDUaHQKHaSTUHR^aZGXSRTUHSEHRQSEQH‿KJPQKRTUD‼FHDJ‼`HPSQHPQEH⁀DaQEH⁅\GEPG_H›JFJZJRRSFFDU⁆HFKJ[‽ ⁅MaHXSQZRFQEHUcFFQHJERQKH\KQPS[QKHVSQH[XQSTUHSEHPSQHYXDJZQER[QaQSERTUD‼FHPQRH\KGWUQFQEHbGUDaaQPHDJ‼[QEGaaQE⁆`HRTUQKdFHOWDE[HZQS JERQKQKH⁈QSFQK‼DUKF‽
⁅YGXPRTUaSQPHPQKHVQQXQE⁆ OTUHQKjcUEQHPSQRQH⁂WSRGPQH‹GEHVGXGHRGHDJR‼‾UKXSTU`HjQSXHRSTUHSEHSUKHPSQHJE[QZKGTUQEQ`HjQKZQEPQ`HPSQHQS‼QKEPHaSRRSGEDKSRTUQH›KD‼FHPQRHORXDa G‼‼QEZDKF‽HOTUHd7[QKQ`HaQSEQaH‿Q[XQSFQKH‹GEHcUEXSTUQEH⁂KXQZESRRQEHSEHPQKH:‾K_QSHJEPHSEHM‼KS_DHdJHZQKSTUFQE‽HNGKHdjQSHhQ_DPQEHjDKHSTUHSa ORFDEZJXQKH※DFSU⁁NSQKFQXHDJ‼HPQKHVJTUQHEDTUHQSEQaH\GXSFS_QKHPQKHSRXDaSRFSRTUQEH⁇Q‼DU⁁\DKFQSHPQRH\KG‼QRRGKRH⁂KZD_DEHDEHQSEHWDDKH‼KQJEPXSTUQ ⁃JE[QHbcEEQKH[QKDFQE`H‹GEHPQEQEHSTUH‹QK[QZXSTUHDJ‼HDKDZSRTUH‹QKRJTUFQ`HQSEQHMJR_JE‼FHdJHQKUDXFQE‽ hDKDJ‼USEH‹QKjSQRQEHRSQHaSTUHDEHQSEQEHj‾KPS[QEHDXFQEHkGPRTUD`HPQKHDJ‼HPQKHDEPQKQEHVFKD⁄QERQSFQHRQSEQRH⁈Q[QRH[SE[HJEPHaSFHPQaHSTUHaSTU djQS‼QXXGRH‹QKRFcEPS[QEH_7EEFQ‽HbSFHQSES[QKHb‾UQH_DaHSTUHaSFHPQaH›GKDE[QXQUKFQEHSERHYQRWKcTU‽HbSFH[‾FS[QaH8cTUQXEHjDEPFQHQKHRSTUHDEHaSTU; ⁅hJHUDRFHPSKHRGXTUQHb‾UQH[Q[QZQE`HPSQHVWKDTUQHJERQKQRH\KGWUQFQEHdJHQKXQKEQE‽H‿SRFHPJHPQEEHDJTUHSEHPQKH8D[Q`HPDRHSRXDaSRTUQ YXDJZQERZQ_QEEFESR`HPSQHMVTUDUDPD`HDJ‼dJRD[QEC⁆H‼KD[FQHQK‽H⁉UEQHdJHd7[QKE`HKQdSFSQKFQHSTUHZKD‹;H⁅MRTUUDPJHDEEDHXDHOXXDUHSXXDHMXXDUHjD DRTUUDPJHDEEDHbJUDaaDPDHKDRJXHMXXDUHiHOTUHZQ_QEEQ`HPD⁄HQRH_QSEQEHYGFFH[SZFHDJ⁄QKHYGFFHJEPHPD⁄HbGUDaaQPHRQSEH\KGWUQFHSRF‽⁆HhDHZKDTU PQKHDXFQHkGPRTUDHSEHUQXXQH※KQJPQHDJRHJEPHJaDKaFQHaSTU‽H⁅hJHUDRFHPSQHVTUDUDPDHDJ‼[QRD[FHPDaSFHZSRFHPJHQSEQKH‹GEHJER`HZSRFHPJHbGRXQa [QjGKPQE`HJEPHPJHjSKRFHQSE[QUQEHSEHPSQHYcKFQEHPQRH\DKDPSQRQR‽⁆ JUEXSTUQRHjSPQK‼JUKHaSKHSaHjQRFD‼KS_DESRTUQEHYQZSK[QHYJSEQDRHSaH※GJFD⁁h⁃DXGE`HjGHPSQH_KSQ[QKSRTUQEH⁀GaDPQERFcaaQHPQKH\QJXHiHaDE
EQEEFHRSQHDJTUH※JXDESHGPQKH※JXZQHiHSUKQHkQKPQEHjQSPQE‽H⁀GTUHSaHRWcFQEHEQJEdQUEFQEHLDUKUJEPQKFHUDFFQHPSQRQHRTUXDE_[QjDTURQEQ kDaSFQEKDRRQHPSQH[DEdQHVDUQXdGEQHQEFXDE[HPQRH⁀S[QKHZSRHdJaH:RTUDP⁁VQQHJEFQKHSUKQHkQKKRTUD‼FH[QZKDTUFHJEPHPSQHPGKFS[QEHVFcaaQHSEHQSEQa [QjDXFS[QEHLSUDPHdJaHORXDaHZQ_QUKF‽H⁈QEEHRSQHJEFQKHSUKQaH※QXPUQKKEHJEPH⁂aSKH⁉RaDEHPDEH※GPSGHESTUFH[DEdH⁀S[QKSDHPQKH_GKDESRTUQEH>aaD QSE‹QKXQSZFQE`HRGHUDFFQHPDRHDEHPQKH:RQFRQ‼XSQ[QHPQRH⁇Q[QEjDXPQRH[QXQ[QE`HPQKHSUKQH\‼QKPQHQKXD[QEHJEPHPSQHPQaHNGKK‾T_QEHSUKQKH⁇QSFQKUQQKQHZSR dJKH›‾RFQH⁂SEUDXFH[QZGF‽HOaaQKUSEHZSXPQEHPSQH※JXZQ`HPSQH⁀DTU‼DUKQEHPQRH⁂aSKHhDEH※GPSG`HPSQHUQJFQHPSQH⁀GKPWKG‹SEdQEH⁀S[QKSDRHEDTUHPQE RFKQE[QEHNGKRTUKS‼FQEHPQKHVTUDKSDHKQ[SQKQE`HjQSFQKUSEHPSQH⁉ZQKRTUSTUFHSEHPSQRQaHQEPXGRQEHVD‹DEEQE[‾KFQX`HjGHRSQHRSTUHPJKTUHQSEQ NQKRTUaQXdJE[HaSFHPQEHEQ[KGSPQEHkDJRRDH_GERGXSPSQKFQE‽ bDEHRTUKSQZHPDRHLDUKHefff`HDXRHSTUHiHPSQH‾ZXSTUQHVQ[QER‼GKaQXHaJKaQXEPHiHPSQHdQEFKDXQHbGRTUQQHPQRH※GJFD⁁h⁃DXGEHSEHhDXDZDHZQFKDF‽HhSQ ‹QKRDaaQXFQEHYXcJZS[QEHXJPQEHaSTUHQSEHiHGZjGUXHSTUHaSTUHDXRHTUKSRFXSTUQKH⁅>E[XcJZS[QK⁆HdJHQK_QEEQEH[Q[QZQEHUDFFQHi`HaSTUHSEHPQK ‹GKPQKRFQEH⁇QSUQH‹GKHPQaH⁅bSUKDZ⁆`HPQKHYQZQFRESRTUQ`HQSEdJGKPEQE`HJEPHSTUHJEFQKdG[HaSTUHPQEH?ZJE[QEHPQRH※KQSFD[R[QZQFR`HPQRHQ=D_F DJR[QKSTUFQFQEHNQKUDKKQERHSaHVTUEQSPQKRSFdHJEPHPQKHUcJ‼S[QEHNQKEQS[JE[QEHSEH⁇STUFJE[HbQ__D‽HOTUHQaW‼DEPHPSQRQHKU^FUaSRTUQEH‿QHjQ[JE[QE DXRHQSEQHKQTUFHa‾URDaQ`HRG[DKHRTUaQKdXSTUQHY^aEDRFS_`HjcUKQEPHPSQHQSEUQSaSRTUQEHYKQSRQHRSTUHaSFH8QSTUFS[_QSFHZQjQ[FQE‽ hQKHOaDa`HPQKHG‼‼QEZDKHPQEH⁇J‼H[KG⁄QKHYQXQUKRDa_QSFHJEPH‹GKZSXPXSTUQKH※K7aaS[_QSFH[QEG⁄`H‼GKPQKFQHaSTUHEDTUHPQKH›UJFZD`HPQKH\KQPS[F` DJ‼`HaSFHRQSEQEH›GKDERTU‾XQKEHSaHNGKUG‼HPQKHbGRTUQQHQSEHYQRWKcTUHdJH‼‾UKQE‽HhQKHj‾KPS[Q`HRQXZRFZQjJ⁄FQHbDEEHPK‾T_FQHRSTUHSEH‹GKd‾[XSTUQa ※KDEd7RSRTUHDJR‽H⁂KHZDFHaSTU`HRQSEQEH⁅:JXXDZ⁆HiHRGHXDJFQFHPQKHDKDZSRTUQH\XJKDXH‹GEH:DXSZHiH‾ZQKHaQSEQH⁂K‼DUKJE[QEHSaHDRSDFSRTUQEH⁇DJa`H‹GK DXXQaHSEHM‼[UDESRFDE`HdJHZQKSTUFQE`HjGdJHSTUHaSTUH[QKEHZQKQSFH‼DEP‽ ⁂FjDHQSEQHkJEPQKFRTUD‼FH⁃JE[QKHbcEEQKHUGT_FQH‹GKHPQKHVFQSEZDE_`HDJ‼HPQKHSTUHEQZQEHPQaHOaDaH\XDFdH[QEGaaQEHUDFFQ‽HbQSEQKRQSFRHZQRFDEP [KG⁄QRHOEFQKQRRQ`HdJHQK‼DUKQE`HSEjSQjQSFHPDRH‼KGaaQH›KSQ[QK‹GX_HPQKH\QJX`HPDRHjQSFH‹QKRFKQJFHXQZF`HRQSEQEHQFUESRTUQEH9JRDaaQEUDXFHJEPHRQSEQ KQXS[S7RQH※‾UKJE[RKGXXQHZQjDUKFHUDFFQ‽HhQaEDTU`HRGHQK‼JUKHSTU`HjDKHPSQH⁅⁀DUPD⁆`HPDRHKQXS[S7RQH⁈SQPQKQKjDTUQE`HSEH‹GXXQaHYDE[Q`HJEPHjQEE QRHPQEEHE7FS[HRQS`HRQSQEHRSQHDJTUHZQKQSFHdJKH⁈SQPQKDJ‼EDUaQHPQRH›DaW‼QRHDJ‼HPQEH\‼DPQEHMXXDUR`H⁅‼SHRDZSXHMXXDU⁆‽ >E‹QKaSFFQXFHKSTUFQFQHRSTUHQSEH:DXSZHDJ‼`HEDTUPQaHSTUHQSEQEH‹QKR7UEXSTUQEH›GKDE‹QKRHdSFSQKFHUDFFQ`HJEPHZDFHaSTUHiHcUEXSTUHjSQHPQKHkGPRTUD ‹GEHORFDEZJXHiHaQSEQH›QEEFESRRQHPQRHORXDaHPJKTUHMJ‼RD[QEHPQKHVTUDUDPDHdJHZQRFcFS[QE‽H⁈SQPQKHPQ_XDaSQKFQHSTUHPDRHYXDJZQERZQ_QEEFESR`HjDR XDJFHDXX[QaQSE[‾XFS[QKH8QUKQHDJRKQSTUF`HJaHbSF[XSQPHPQKHSRXDaSRTUQEH>aaDHdJHjQKPQE‽HVGZDXPHSTUHPSQH⁂SEdS[_QSFHMXXDURHJEPHPSQH‿QKJ‼JE[HPQR \KGWUQFQEH‼GKaJXSQKFHUDFFQ`HQKUGZHRSTUHXDJFQKHLJZQXHJEFQKHPQEH⁃JE[QEH8QJFQE‽HLQFdFHRQSHSTUHPGTUHQSEQKH‹GEHSUEQE`H⁃QFdFH[QU7KQHSTUHSUKQKHUQSXS[QE YQaQSERTUD‼FHDE‽HhQKHjQSRQHOaDaHEQZQEHaSKHUDFFQHEDF‾KXSTUHESTUFHPQEH[XQSTUQEH‹GKQSXS[QEHVTUXJ⁄H[QdG[QEHJEPHXcTUQXFQHDa‾RSQKF‽H⁉ZHSTUHaSTU SaH※DXXQHQSEQKH‿Q_QUKJE[HESTUFHDJTUHZQRTUEQSPQEHXDRRQEHa‾RRQ`H‼KD[FQHSTUHSaHVTUQKd`HDZQKHPDHjDEPFQHQKHQSE`HPD⁄HaDEHDJ‼[KJEPHaQSEQRHUGUQE MXFQKRHDJ‼HPSQRQH\KGdQPJKH‹QKdSTUFQEH_7EEQ‽ bQUKHDXRHDEQ_PGFSRTUQEH⁈QKFHZQRc⁄QEHPSQRQHRQXFRDaQEH⁂K‼DUKJE[QEHESTUF`HjSKPHaDEHQSEjQEPQE‽HMZQKHZQSPQHbDXQHUDZQHSTUHSEFQERS‹H[QRW‾KF` aSFHjQXTUQKH‿Q[QSRFQKJE[HPQKH?ZQKFKSFFHdJaHYXDJZQEHPQRH\KGWUQFQEHdSQXRFKQZS[QKHPQEEH⁃QH‹GEHPQEH›Kc‼FQEHPQKHSRXDaSRTUQEH⁂KEQJQKJE[ ZQFKSQZQEHjSKP`HPD⁄HPSQHbSRRSGESQKJE[HPJKTUDJRHESTUFHSaaQKHPJKTUHJEPJXPRDaQEH9jDE[HZQ[XQSFQFHjSKP`HRGEPQKEHPD⁄HSaH※DXXHaQSEQK ⁅‿Q_QUKJE[⁆HiHDJTUHjQEEHRSQHKQSEH‼S_FS‹HjDKHiHQSEQHUQXXQ`HZK‾PQKXSTUQHYQEJ[FJJE[HDJ‼_Da`HPQaH›GE‹QKFSFQEHdJaHkQSXH‹QKUGX‼QEHdJHUDZQE‽ MJ‼HLD‹DHZQUDJWFQFHRSTUHFDFRcTUXSTUHQSEQHKQXDFS‹QHhJXPRDa_QSFH[Q[QE‾ZQKHPQEHSEHPQKH\DETDRSXDHQKjcUEFQEHKQXS[S7RQEH‿Q_QEEFESRRQE‽HMZQK PSQRQH:GXQKDEd`HPSQHjQSFHQEF‼QKEFHSRFH‹GaHRFJWSPQEH⁉ZR_JKDEFSRaJRH⁃QEQKHD‼[UDESRTUQEH:DXQZDE`HPSQHPSQHKSQRS[QEH‿JPPUDRFDFJQEH‹GEH‿Da^DE RWKQE[FQE`HRGXXFQHDJTUHESTUFH‾ZQKRTUcFdFHjQKPQE‽HVSQHRTUXSQ⁄FH[QXQ[QEFXSTUQH‿KDEPDERTUXc[QHDJ‼H›SKTUQEHJEPHRG[DKH\G[KGaQH[Q[QEHPSQ ‼QUX[QXQSFQFQEH⁅›J‼‼DK⁆HESTUFHDJR‽ OaH>a_KQSRH‹GEH]G[^D_DKFDHZQRJTUFQHSTUHPSQHZJPPUSRFSRTUQH›JXFRFcFFQH‹GEH‿GKGZGPJK`HPSQHPQEH_GXGRRDXQEHMJRaD⁄QEHc[^WFSRTUQKH\^KDaSPQE EDUQ_GaaF‽H:KGFdHPQKHQKPK‾T_QEPQEHbSFFD[RUSFdQHZSEHSTUHZSRHdJKHVWSFdQHPSQRQKH⁀DTUDUaJE[HPQRHbQKJ⁁‿QK[QRH[Q_XQFFQKF`HjGHJEFQKHPQK jDZQE‼7KaS[QEHMEUcJ‼JE[HdDUXXGRQKHVFJWDRHPSQHYQRFDXFHYDJFDaDRHSEHjQXFDZ[QjDEPFQKH‿QRTUDJXSTU_QSFHPDK[QRFQXXFHSRF‽H⁂SEQH[QjDXFS[Q ‿QRJTUQKaQE[QHiHDJRRTUXSQ⁄XSTUHOEPGEQRSQKHiHPKcE[FQHRSTUHDJ‼HPQEHRFQSXQEHVFJ‼QEHJEPHUJXPS[FQHDXRHZKD‹QHbJRXSaQHPQaHa^RFQKS7RQEH⁂KZQHSUKQK MUEQE‽H9JH※‾⁄QEHPQKHKSQRS[QEHVFQSE_JXSRRQHFKDFQEHZDKZDKSRTUH_GRF‾aSQKFQH:DEd[KJWWQEHDJ‼`HPSQHZQSEDUQHDdFQ_SRTUHjSK_FQEHJEPHDJ‼HZSdDKKQH⁈QSRQ PSQH>E‹QKQSEZDK_QSFHPSQRQRH›JXFQRHaSFHPQEHRFKQE[QEHYQZGFQEHPQRHSRXDaSRTUQEHbGEGFUQSRaJRHJEFQKRFKSTUQE‽H⁈QKHjQS⁄HRTUGE`HPD⁄HSaH‹SQKdQUEFQE LDUKUJEPQKFHPSQHND⁃KDPUDKD⁁VQ_FQHRSTUHDEHPSQRQKHVFQXXQHRQ=JQXXQEHMJRRTUjQS‼JE[QEHUSE[DZ`HPSQHSEH_KDRRQaHYQ[QERDFdHdJKHZJPPUSRFSRTUQE ⁈QXFQEFRD[JE[HRFDEPQEC OEHcUEXSTUQaHYQPKcE[QHZQjQ[FQEHRSTUHPSQH⁃D‹DESRTUQEH※DaSXSQEHZQSHSUKQaH※QSQKFD[RDJR‼XJ[HdJaH[S[DEFSRTUQEH\DEFUQGEHPQKHUSEPJSRFSRTUQE :QaWQXH‹GEH\DKDaZDE`HjGHPSQHQ=FKD‹D[DEFQHY7FFQKjQXFHPQKH‿KDUaDR`HNSRTUEJRHJEPHVTUS‹DR`HSEHVFQSEH[QaQS⁄QXF`HDJ‼HPSQHQjS[QH⁈SQPQKUGXJE[ ‹GEHVTU7W‼JE[HJEPH>EFQK[DE[H‹QKjQSRF‽H⁀SQaDEPHRTUSQEHDEHPSQRQEH⁇QXS_FQEHPQKHUSEPJSRFSRTUQEHLDUSXS^DHMERFG⁄HdJHEQUaQE`H⁃DHSTUH[QjDEEHPQE ⁂SEPKJT_`HPD⁄HPSQHQEPXGRQEH›GXGEEQEHPQKHbGWQPR`HPQKQEHZQUQXaFQH※DUKQKHjSQHQSEHPSTUFQKHOERQ_FQERTUjDKaHJaHPDRHkQSXS[FJaH_KQSRFQE`HRSTU PSQRQEHbGEJaQEFQEHSUKQKHYQRTUSTUFQHaSFHPQKH⁂UK‼JKTUFH‹GEH\SX[QKEHEcUQKFQE‽
hDRHJK[QKESRHbDEJQXHOO‽ ⁂SEHWDDKH:D[QH‹GKHPQaH⁉RFQK‼QRFHeffgHZSEHSTUHQSEQKH⁂SEXDPJE[HPQRHPQJFRTUQEH‿GFRTUD‼FQKRH\DJXH‹GEHbDXFdDUEH[Q‼GX[F`HPQKHQSEQH⁇JEPQH‹GE ⁂=WQKFQEH‹QKRDaaQXFHUDF‽HhSQHE‾TUFQKEQH8D[QZQJKFQSXJE[HPQRHhSWXGaDFQEHUDFFQHSTUHRTUGEHQFXSTUQHLDUKQHdJ‹GKHRTUcFdQE[QXQKEF`HDXRHQKHPSQ OEFQKQRRQEHPQKH‿JEPQRKQWJZXS_HSEH:QUQKDEH‹QKFKDF‽H⁈QKHSaHRTUSSFSRTUQEHYGFFQRRFDDFHPQKHSKDESRTUQEHM^DFGXXDURH[QXQZFHUDF`HU‾FQFHRSTUH‹GK ‹GKQSXS[QEHMEDX^RQE‽H:KGFdHPQKHNQKR7UEXSTU_QSF`HPSQHRSTUHJEFQKHPQaH⁃QFdS[QEH\KcRSPQEFQEHVJRSXGH‿DaZDE[H]JPUG^GEGHQSE[QRFQXXFHUDFHJEPHPSQ ‹GEHPQJFRTUQEH⁉KSQEFDXSRFQEHDXRH‿QjQSRH‼‾KHPSQHNQKFKc[XSTU_QSFH‹GEHORXDaHJEPHhQaG_KDFSQH[QK‾UaFHjSKP`H‹QKdSTUFQFQHPQKH‿GFRTUD‼FQKHDJ‼ VTU7E‼cKZQKQS‽ ⁀QZQEHPQKHSRXDaSRTUQEHbDRRQEZQjQ[JE[H⁅⁀DUPDFHJXH>XDaD⁆HUDFHRSTUHPSQHDEPQKQH[QjSTUFS[QHORXDa⁁\DKFQS`HPSQH⁅bJUDaaDPS^D⁆`HQSEQK RFKQE[QEH›GKDEDJRXQ[JE[HdJ[QjDEPF‽HVSQH‼SEPQFHZQSHPQEHVFJPQEFQEHFQTUESRTUQKHkGTURTUJXQEHdJEQUaQEPQEH⁂SE‼XJ⁄HJEPHZQKJ‼FHRSTUHDJ‼HPSQ ⁂KEQJQKJE[RZQjQ[JE[HPQKH⁅VDXD‼S^D⁆`HPSQHJEFQKHSUKQaHc[^WFSRTUQEHOERWSKDFGKHVTUQS_UHbGUDaaQPHMZPJUHSaH⁈QRFQEHdJEcTURFHWGRSFS‹HJEP ‼GKFRTUKSFFXSTUHZQjQKFQFHjJKPQ`HQUQHQSEHKDPS_DXQKH※X‾[QXHdJHbGKPHJEPH:GFRTUXD[HDJ‼KSQ‼‽HhD⁄HPQKH⁃QFdS[QHVFDDFRTUQ‼HOEPGEQRSQERHKQXS[S7RQ
kDKaGESQHdJHRFS‼FQEHRJTUFHJEPHPDaSFHPQEHRFcK_RFQEH9JRWKJTUHZQSHPQEH\DKXDaQEFRjDUXQEHQKdSQXFHUDF`HjSKPHDXRHWGRSFS‹QRHVS[EDXH[QjQKFQF`HdJaDX PSQHDJRHPQKHMKaQQHUQK‹GK[Q[DE[QEQHYGX_DK⁁‿QjQ[JE[HjSQHDJTUHPSQHhQaG_KDFSRTUQH\DKFQSHPQKHVJ_DKEG⁁:GTUFQKHbQ[DjDFFSHPQaHSEPGEQRSRTUQE ⁀DFSGEDXSRaJRHPQEHNGKKDE[H‹GKHPQaHKQXS[S7RQEH⁂E[D[QaQEFHQSEKcJaQE‽H⁂RHZQRFQUFHkG‼‼EJE[`HPD⁄HPQaH[QjDXFS[QEHOERQXRFDDFH⁃QEQ _GE‼QRRSGEQXXQEHVWDEEJE[QEHQKRWDKFHZXQSZQE`HPSQHRGH‹SQXQHDEPQKQH⁇Q[SGEQEHQKRTU‾FFQKE‽ ⁈QKHRQSEQH‿QGZDTUFJE[QEH⁃QPGTUHSaHDXFQEHVJXFDERRSFdHVGXGHDERFQXXF`HjGHPSQHRTUXJaaQKEPQHYQjDXFZQKQSFRTUD‼FHEDTUHMJRKGFFJE[HPQKHQSERF RFDK_H‹QKFKQFQEQEH_GaaJESRFSRTUQEH\DKFQSHEJEaQUKHSaHKQXS[S7RQEH※DEDFSRaJRHQSEHEQJQRH‿QFcFS[JE[R‼QXPH‼SEPQEH_7EEFQ`HPQKHaJ⁄H‼QRFRFQXXQE` PD⁄HRSTUHUSQKHiHjSQHSEHPQKH\KG‹SEdHMTQUHSaH⁀GKPQEHVJaDFKDRHiHPSQH_GKDESRTUQHYQRQFd[QZJE[HZQKQSFRHPJKTU[QRQFdFHUDF‽ bD[HPSQH⁅LDaDDFHQXHORXDaS^D⁆`HPSQH[DEdHG‼‼QEH‼‾KHPSQHVTUD‼‼JE[HQSEQRHSRXDaSRTUQEHYGFFQRRFDDFQRHQSEFKSFF`HZQSHPQEH⁃‾E[RFQEH⁈DUXQEHDJTU dSQaXSTUH_Xc[XSTUHDZ[QRTUESFFQEHUDZQE`HDEHU7TURFQKHVFQXXQHjD[FHaDEHQRHESTUF`H[Q[QEH⁃QEQHNQKRTUj7KQK[KJWWQE`HPSQHJEFQKHPQaHNQKPDTUFHRFQUQE` DEHPQEH[KDJQEUD‼FQEHMFFQEFDFQEH‹GEH‿DXSHZQFQSXS[FHdJHRQSE`HaSFHPQKH[QZGFQEQEHVFKQE[QH‹GKdJ[QUQE‽ ⁂RHZQK‾UKFHRQXFRDa`HPD⁄HPSQH›GKDE[QXQUKFQEHPQKH⁅bD⁃XSRHQXH>XDaDHOEPGEQRSD⁆HGUEQHFUQGXG[SRTUQH‿QKQTUFS[JE[H※DFjDRH‹QK_‾EPQE`HPSQHPSQ Q=FKQaQH\K‾PQKSQHPQKHjDUUDZSFSRTUQEH※K7aaXQKHVDJPS⁁MKDZSQERHEDTUDUaQE‽HVQXZRFHPQKHVFDDFRTUQ‼H_GEEFQHESTUFHJaUSE`HPSQH⁅MUaDPS^D⁆⁁VQ_FQ` PSQH‹GEHPQKHKQSEQEH8QUKQHDZjQSTUF`HJEFQKHRFKS_FQRHNQKZGFHdJHRFQXXQE‽HbSFHPQKH[QZGFQEQEHhSR_KQFSGEHD[SQKQEHJEFQKPQRRQEHPSQH9QXXQEHPQKH⁅kSdZ :DUKSK⁆`HPQKH\DKFQSHPQKH‿Q‼KQSJE[`HPSQHPQEH›DaW‼H[Q[QEHPQEHDaQKS_DESRTUQEHOaWQKSDXSRaJRHJEPHPSQHKQRFXSTUQEH›KQJdd‾[XQKHDJ‼H[DEd V‾PGRFDRSQEHDJRPQUEQEHa7TUFQE‽HOaaQKUSEHUDFFQEHRSTUHEfffHSEPGEQRSRTUQHbJP⁃DUSPSEHDaHDEFSRGj⁃QFSRTUQEH›KSQ[HSEHM‼[UDESRFDEHZQFQSXS[F‽ ⁀QZQEHPQKH:‾K_QS`HPSQHDE[QZXSTUHEGTUHDaHjQRFXSTUQEHVc_JXDKSRaJRH‼QRFUcXF`HQEFRQEPQFHOEPGEQRSQEH⁃QPQRHLDUKHPDRHRFcK_RFQH\SX[QK_GEFSE[QEFHdJK ⁈DXX‼DUKF`HdJKHkDP⁃HEDTUHbQ__DHJEPHbQPSED‽ OEHQSEQaHPSR_KQFQEH›XGRFQK[DKFQEHUDZQEHjSKHSEHLD_DKFDHdJaHRTUEDXdQEPQEH⁇J‼HPQKHYQT_GRHSEH_XQSEQKH⁇JEPQHZSRHRWcFHSEHPSQH⁀DTUFH‾ZQKHPSQ ‿QPKcE[ESRHPQKHCUKSRFQEUQSFHG‼‼QEHJEPHDJR‼‾UKXSTUHPSR_JFSQKF‽HhDHSTUHDXRHOEFQKEDFRd7[XSE[HSaHYQSRFQHPQRHUQSXS[QEHO[EDdSJRH‹GEH8G^GXD DJ‼[QjDTURQEHjDK`HZQRD⁄HSTUHPQEHE7FS[QEH⁅VFDXX[QKJTU⁆`HJaHDEHPSQRQKHG‼‼QEQEH›KSFS_HPQKHQS[QEQEHkSQKDKTUSQHFQSXdJEQUaQE‽H⁅MJTUHjSKHEQUaQE ‿Q_QUKJE[QEH‹GK`HjQEEHRSTUHPSQHb7[XSTU_QSFHPDdJHQK[SZF‽H⁈SKH‼GX[QEHPQKHMJ‼‼GKPQKJE[HCUKSRFS`HDXXQHN7X_QKHPQRH⁂KPZDXXRHdJHFDJ‼QE`HRGjQSFHPDR UQJFQHEGTUHSEHQSEQKHSRXDaSRTUQEH>a[QZJE[Ha7[XSTUHSRF⁆`HaQSEFQHQSEH⁃JE[QKH‼KDEd7RSRTUQKH\DFQKHDJRHPQKH‿KQFD[EQ‽HMZQKHjDRHUDZQHPQE PQJFRTUQEH\DWRFHjGUXHPDdJH‹QKDEXD⁄F`HPSQHRWQ_FD_JXcKQH:DJ‼QHQSEQRHbGUDaaQPDEQKRHDJRHPQaHbD[UKQZHdJHdQXQZKSQKQE`HjGHQSEHRGXTUQKHMZ‼DXX ‹GaH_GKDESRTUQEHYXDJZQEHPGTUHQSEQKHkSEKSTUFJE[HPJKTUHPSQHQS[QEQEH※DaSXSQEDE[QU7KS[QEH[XQSTU_GaaQC ⁀GTUH[K7⁄QKQRH>EZQUD[QEHKSQ‼HPSQH⁇Q[QERZJK[QKHNGKXQRJE[H‿QEQPS_FRHBNO‽HUQK‹GK`HDXRHPQKHkQSXS[QHNDFQKHbDEJQXHOO‽`HQSEQEHGZR_JKQEH›DSRQK PQRHQKaDFFQFQEH‿^dDEFSESRTUQEH⁇QSTUQR`HdSFSQKFQHJEPHPQRRQEH‿QUDJWFJE[H‾ZQKEDUa`HPSQH8QUKQHbGUDaaQPRHUDZQHESTUFRH⁀QJQRHJEPHDERGERFQE EJKH⁀Q[DFS‹QRHZQjSK_F‽HOTUHjDKHRTUGEHaQUK‼DTUH‹GEHUGUQEH\KcXDFQEHPDKDJ‼HDE[QRWKGTUQEHjGKPQE`HPD⁄HPQKHK7aSRTUQH\GEFS‼Q=HPDaSFHESTUFHEJK QSEQEH‹7XXS[HJEE7FS[QEHhSRWJFHaSFHPQKH[QRDaFQEH>aaDHUQKDJ‼ZQRTUjGK`HRGEPQKEHPD⁄HQKHDJTUHiHjDRH‼‾KHQSEQEHYQXQUKFQEHRQSEQRH⁇DE[QR QKRFDJEXSTUHSRFHiHQSEQKHUSRFGKSRTUQEH※QUXPQJFJE[HQKXQ[QEHRQS`HUDZQHPGTUHPSQHNQKZKQSFJE[HPQRHORXDaHSEHPQKHWKSaSFS‹QEHVFDaaQR[QRQXXRTUD‼F MKDZSQERHQSEQHWGRSFS‹QH[QRQXXRTUD‼FXSTUQH⁇Q‹GXJFSGEHZQjSK_F‽ ‿QSHDXXQEHdQSFZQPSE[FQEH>EdJXcE[XSTU_QSFQEHUDZQHPSQH_GKDESRTUQH8QUKQHPSQHYXQSTUUQSFHDXXQKHYXcJZS[QE`HPSQH\‼XSTUFHdJKH※‾KRGK[QH‼‾KHPSQHMKaQE JEPH8QSPQEPQE`HPSQH⁈SFjQEHJEPH⁈DSRQEHQSE[Q‼GKPQKF‽HNGKHDXXQaHiHJEPHPDaSFHRQSHPQKHPJKTURTUXD[QEPQH⁂K‼GX[`HPSQHKDRDEFQHMJRZKQSFJE[HPQK 8QUKQHdJHQK_XcKQEHiHQ=SRFSQKQHSEHPSQRQKHdJFSQ‼RFHQ[DXSFcKQEHYQRQXXRTUD‼FHjQPQKH›XQKJRHEGTUHMPQX`HjQEEHaDEH‹GEHPQKHUSQKDKTUSRTUQEHVFKJ_FJKHPQK RTUSSFSRTUQEHbSEPQKUQSFHJEPHPQaH\KQRFS[QHDZRSQUF`HPDRHPSQH⁀DTU_GaaQEHPQRH\KGWUQFQE`HPSQH⁅VTUJKD‼D⁆`H[QESQ⁄QE`HGUEQHRSTUHSEHPQEHaQSRFQE ※cXXQEHDJ‼HQSEQEH[XDJZj‾KPS[QEHVFDaaZDJaHZQKJ‼QEHdJH_7EEQE‽ hQaHWGXESRTUQEHNGK[cE[QKHDJ‼HPQaH:UKGEH\QFKSHjcKQHQSEQHRGXTUQH⁂EF[XQSRJE[HESTUFHJEFQKXDJ‼QE`HQEFK‾RFQFQHRSTUHPQKH‿KQFGEQ‽H‿QEQPS_FHBNO‽ UDZQHRQSEQaHMJ‼FKD[HEGTUHdJRcFdXSTUH[QRTUDPQF`HDXRHQKHRSTUHSEHQSEQKHbGRTUQQH‹GEHORFDEZJXHdJKHEDTU[SQZS[QEHNQKR7UEJE[R[QRFQHZQKQSFH‼DEP` dJaH[QaQSERDaQEHYQZQFHaSFHPQaH>XDaDHSEH⁇STUFJE[HbQ__D‽HVFDFFHPQRRQEHUcFFQHQKHaSFHRFKQE[QKHbDUEJE[HPSQHYQaQSERTUD‼FHPQKHN7X_QKHDJ‼HPSQ NQK‼GX[JE[HJEPHJTUFJE[HDJ‼aQK_RDaHaDTUQEHa‾RRQE`HPQEQEHPSQHJKDXFQHDWGRFGXSRTUQHCUKSRFQEUQSFHPQRH⁉KSQEFRHDJR[QRQFdFHSRF‽ ⁉‼FH[QEJ[Hj‾KPQEHPSQRQHYQaQSEPQEH‹GEH9jDE[RKQ[SaQEHJEPH\GFQEFDFQEHZQPKcE[F`HPSQHRSTUHXQPS[XSTUHJEFQKHPQaHVTUJFdHDaQKS_DESRTUQKHJEP QJKGWcSRTUQKH⁈D‼‼QEHDJ‼HSUKQEHJRJKWSQKFQEH:UKGEQEHUDXFQEH_7EEFQE‽HhQKH‹GEHM^DFGXXDUH›UGaQSESH[Q[K‾EPQFQHRTUSSFSRTUQHYGFFQRRFDDFHSaHOKDE XQ[QHQSEQH[K7⁄QKQH:GXQKDEdH[Q[QE‾ZQKHPQKHTUKSRFXSTUQEHJEPHRG[DKHPQKH⁃‾PSRTUQEH⁅※DaSXSQHPQRH‿JTUQR⁆HDEHPQEH:D[HDXRHaDETUQKHDE[QZXSTUQ ※KQJEPHPQRH⁈QRFQER‽HVQXZRFHPQKH‼‾KTUFQKXSTUQHSKD_SRTUQHhS_FDFGKHVDPPDaHkJRRQSEHUDZQHRQSEQHTUKSRFXSTUQEH>EFQKFDEQEHjQSFHjGUXjGXXQEPQK ZQUDEPQXFHDXRHPQKH⁀M:⁉⁁NQKZ‾EPQFQHJEPH⁂JKGWD⁁›DEPSPDFH:‾K_QS‽
>aRSQPXJE[HEDTUHVJaDFKD hSQH⁇‾T__QUKHPQRHYXGZQFKGFFQKRHSEHYQ[QEPQE`HPSQHSUEHQSERFHQK‼KQJFQEHGPQKHQEFd‾T_FQE`HSRFHaQSRFHaSFH⁂EFFcJRTUJE[H‹QKZJEPQE‽HOEHOEPGEQRSQEHSRF aSKHPSQRQH⁂KE‾TUFQKJE[HQKRWDKFH[QZXSQZQE‽HhDRHaD[HQSEQHKQSEHSEPS‹SPJQXXQH⁈DUKEQUaJE[HRQSE‽HbDEHKGXXFHQZQEHESTUFHaQUKHaSFHPQKH⁂SRQEZDUE IJQKHPJKTUHLD‹D`HRGEPQKEHZQEJFdFHQSEHjQSF‹QKdjQS[FQRH⁀QFdH‹GEH※XJ[XSESQE‽HhSQHOE‼KDRFKJ_FJKHSRFHZQRRQKHDXRHQKjDKFQF‽HOEHPQEHkGFQXRHjSKPHQSE VQK‹STQH[QZGFQE`HPQKHSEH⁂JKGWDHRQXFQEH[QjGKPQEHSRF‽HhDZQSHdQSTUEQEHRSTUHPSQHjQSZXSTUQEHME[QRFQXXFQEHiHPDRHSRFH⁃DHDJTUHSEHCUSEDHPQKH※DXXHiHPJKTU ZQRGEPQKQH›GaWQFQEdHJEPH‿Q‼XSRRQEUQSFHDJR‽ ⁀DF‾KXSTUHXQZFHPSQHbDRRQHPQKH‿Q‹7X_QKJE[HjQSFQKUSEHSEHMKaJF`HDZQKHdJaHkSaaQXHRTUKQSQEPQRH⁂XQEPHSRFHRQXFQE‽HMJRHPQKHGRFDRSDFSRTUQE ※SEDEd_KSRQHPQKHEQJEdS[QKHLDUKQHSRFHPDRH8DEPH‼DRFHJE‹QKaSFFQXFHSEHPQEHVFKJPQXHPQKHEQJQEHjQXFjQSFQEH⁇QdQRRSGEH[QKDFQE‽HNSQKdS[H\KGdQEFHPQK ‿Q‹7X_QKJE[HXQZFH‹GEH_EDWWHdjQSHhGXXDKHWKGH:D[‽HhGTUHPSQHVFJEPQHPQRHDJ‼RcRRS[QEH:JaJXFRHUDFHEGTUHESTUFH[QRTUXD[QE‽ ‿QSHPQKH‿QFKQJJE[HPQKHJKaRFQEHUDZQEHRSTUHDJR[QKQTUEQFH⁃QEQHSRXDaSRFSRTUQEH⁉K[DESRDFSGEQEHNQKPSQERFHJEPHMERQUQEHQKjGKZQE`HPSQHSa ⁈QRFQEHSaHNQKPDTUFHPQRH:QKKGKSRaJRHRFQUQE‽H?ZQKHPQEHK7FXSTUQEH9SQ[QXPcTUQKE`HPSQHPDRHDEPQKEGKFRH‾ZXSTUQH⁈QXXZXQTUH‹GKFQSXUD‼FHQKRQFdQE` jDTURQEHSaaQKHaQUKHbSEDKQFFQHUGTU‽HhSQHYQZQFRRFcFFQEHRSEPHSEHKQTUFHP‾K‼FS[QaHVFSXHQKKSTUFQF`HjQSRQEHDZQKHDJTUHZSdDKKQHDKTUSFQ_FGESRTUQ ⁂SE‼cXXQHDJ‼`HjSQH⁃QEQH⁅LDaS<⁆HZQSHVGXG`HPSQHDEHPSQH‿DRSXSJR⁁›DFUQPKDXQH‹GEHbGR_DJHQKSEEQKF‽HhDRHUQ_FSRTUQH:KQSZQEHSaHVFDPF_QKEHjSKPH‹GE dDUXXGRQE`HDJ‼H›KQPSFHQKjGKZQEQEHbGFGKKcPQKEHZQUQKKRTUF‽HhSQH_XGFdS[QH※QRFJE[HDJRHPQKH‼K‾UQEHUGXXcEPSRTUQEH9QSF`HPQKQEHbDJQKEH‹Ga
bGERJEKQ[QEH[QRTUjcKdFHRSEP`HQKUQZFHRSTUHjSQHQSEQH‼SERFQKQH›JXSRRQ‽HhSQH⁇QSR‼QXPQKHLD‹DRHRFQS[QEHjQSFQKUSEHSEHVFJ‼QEH‹GKHPQaHZQPKGUXSTUQE kSEFQK[KJEPHZKGPQXEPQKHNJX_DEQHDE‽ hSQHOERQXHXQSPQFHJEFQKHPKDaDFSRTUQKH?ZQKZQ‹7X_QKJE[‽H⁀JKHDEHjQES[QEH⁉KFQEHPQKH⁈QXFHXQZQEHPSQHbQERTUQEHRGHQE[HdJRDaaQE[QPKcE[F‽ ⁀GKaDXQKjQSRQHa‾⁄FQHQSEQHRGXTUQH›GaWKQRRSGEHQ=WXGRS‹QHVFSaaJE[HJEPHRFcEPS[QHJQKQXQEHdJKH※GX[QHUDZQE‽HMZQKHSEHOERJXSEPQHUDFHRSTUHQSEQ bQEFDXSFcFHPJKTU[QRQFdF`HPSQHSEHQSEQKH‿KGRTU‾KQHPQKHPQJFRTUQEH‿GFRTUD‼FHdJFKQ‼‼QEPHjSQH‼GX[FHZQRTUKSQZQEHjSKP; ⁅hSQHDXF⁃D‹DESRTUQH›JXFJKHSEHSUKQEH‹SQX‼cXFS[QEHMRWQ_FQEHUDFHQSEHRWQdSQXXQRHRGdSDXQRHNQKUDXFQERaJRFQKH[QRTUD‼‼QE`HZQSHPQaHdjQSH⁂XQaQEFQHQSEQ jSTUFS[QH⁇GXXQHRWSQXQE;H9JaHQSEQEHSRFHQRHPDRHDJTUHSEHDEPQKQEHDRSDFSRTUQEHYQRQXXRTUD‼FQEHDE[QXQ[FQHVFKQZQEHEDTUHkDKaGESQ`HdJaHDEPQKQEHPSQ :DFRDTUQ`HPD⁄HSEHLD‹DHPSQHbQERTUQEHRGHPSTUFHDJ‼QSEDEPQKHjGUEQE`HPD⁄HRSTUHEGF[QPKJE[QEHRFKQE[QH⁇Q[QXEHPQRHU7‼XSTUQEHbSFQSEDEPQKR QEFjST_QXFHUDZQE‽HOEPGEQRSQKHRSEPHZQa‾UF`HdJaSEPQRFHSEHcJ⁄QKQKH?ZQKQSERFSaaJE[HJEPHkDKaGESQHaSFHSUKQEHbSFaQERTUQEHdJHXQZQE‽HOE OEPGEQRSQEHSRFHaDEHPDUQKHSEHDXXQEHVSFJDFSGEQEH[XQSTUZXQSZQEPH‼KQJEPXSTUHJEPHXcTUQXF‽HbDEHXcTUQXFHDJTU`HjQEEHaDEHQSEQHMEFjGKFHESTUFHjQS⁄ GPQKHESTUFH[QZQEHjSXX`HJaHPQEHYQRWKcTURWDKFEQKHESTUFHdJH‹QKXQFdQE‽HLQPQKHRGXXHRQSEHYQRSTUFHjDUKQEH_7EEQE‽HhQKHLD‹DEQKH‹QKaQSPQFHPSKQ_FQ MJRRD[QE`HZQRGEPQKRHjQEEHRSQHDZXQUEQEPQKH⁀DFJKHRSEP‽H⁂EFRWKQTUQEPHSRFH‹GEHQSEQaHSEPGEQRSRTUQEHYQRWKcTURWDKFEQKHRQXFQEHQSEH_XDKQRHM⁀QSE dJHQKjDKFQE‽H⁂SEHPQJFXSTUQRH97[QKEHGPQKHQSEHMNSQXXQSTUFHSRFH‹SQX‼DTUHDXRHMZXQUEJE[HDEdJRQUQE‽HMJTUHSEHRTUjSQKS[QEHVSFJDFSGEQEHZXQSZFHPSQ VFSaaQHKJUS[HJEPH[QXDRRQE‽HhQJFXSTUQ`HD[[KQRRS‹QHYQ‼‾UXRcJ⁄QKJE[QEH‼‾UKQEHdJaHYQRSTUFR‹QKXJRFHJEPHRTUDPQEHPQKHkDKaGESQ‽ LQHjSTUFS[QKHQSEH:UQaD`H⁃QHU7UQKRFQUQEPHPQKHYQRWKcTURWDKFEQKHSRF`HPQRFGHXQSRQKHRWKSTUFHaDE‽HVQXFQEHjSKPHaDEHJE[QPJXPS[HGPQKHXDJF‽H⁂RHjSKP jQES[H[QRFS_JXSQKF‽HMJTUHZQSaHkDEPQXEH[SXF;HOaaQKH‼KQJEPXSTUHRQSE`HPDaSFH⁃QPQKHRQSEHYQRSTUFHjDUKQEH_DEE‽H9JK‾T_UDXFJE[`H⁇‾T_RSTUFEDUaQ DJ‼HDEPQKQHJEPHQSEHNQKUDXFQE`HPDRHESQaDXRHSEHPSQH⁂E[QHJEPHPDaSFHSEHPQEHYQRSTUFR‹QKXJRFHFKQSZF`HRSEPHPSQHjSTUFS[RFQEHYKJEPXD[QEHDXF⁃D‹DESRTUQK 9S‹SXSRDFSGE`HPSQHRSTUHZSRHUQJFQHQKUDXFQEHUDZQEHJEPHDJTUHSEHPQKHFQTUESRTUQEHYQRQXXRTUD‼FHPQKHSEPGEQRSRTUQEHYKG⁄RFcPFQHjSK_RDaHZXQSZQE‽ MXXQKPSE[RHRFDaaFHPQKH‿Q[KS‼‼HMMaG_HQZQE‼DXXRHDJRHPQaHUSQRS[QEH›JXFJK_KQSR‽⁆ VTUGEHPSQH⁀SQPQKXcEPQKHUDFFQEH‹QKRJTUF`HPQaHJEQKFKc[XSTUQEHhKJT_HPSQRQKHPQaG[KDWUSRTUQEH‿DXXJE[HPJKTUH9jDE[RJaRSQPXJE[QEHDJ‼HDEPQKQ` jQES[QKHPSTUFHZQ‹7X_QKFQHOERQXEHQEF[Q[QEdJjSK_QE‽HhDRH⁂=WQKSaQEFHjDKH[QRTUQSFQKF‽H⁀DTUHPQaHbSXSFcKWJFRTUH‹GEHDFKHHEDUaHPQKHEQJQ VFDDFRWKcRSPQEFHVJUDKFGHaSFHKGZJRFQEHbQFUGPQEHQSEQHcUEXSTUQH>aRTUSTUFJE[HJEFQKHPQaHVXG[DEH⁅:KDERaS[KDRSQ⁆HSEHME[KS‼‼‽HMJTUHRQSEQHM_FSGE ‹QK‼QUXFQHSUKH9SQX‽HOaH※K‾U⁃DUKHDFHHjJKPQHSTUHMJ[QEdQJ[QHQSEQKHRGXTUQEHaQERTUXSTUQEH:KDERWXDEFDFSGE‽ OEHQSEQaHFKGRFXGRQEHVJaW‼[QZSQFH⁈QRFRJaDFKDRHUDFFQHPQKH⁅XcTUQXEPQHYQEQKDX⁆HVJUDKFGHSaH⁇DJaH‹GEH⁇DEFDJ⁁⁇DRDJHQSEHEQJQR >aRSQPXQKWKG⁃Q_FHU7TURFWQKR7EXSTUHQSE[QjQSUF‽HhSQH⁂KPQHPGKFHjDKHRTUjDKdHJEPH‼DJXS[‽HOEHPQEH‼KSRTUHDJR[QUGZQEQEH›DEcXQEHRFDEPHPDRHZKDT_S[Q ⁈DRRQKHPJE_QXH[Q‼cKZFHjSQHRFSE_QEPQRH‿XJF‽HhSQH8J‼FHjSaaQXFQH‹GEHbGR_SFGR‽H⁂SEHZXQSQKEQKHkSaaQXHXDRFQFQHDJ‼HRTUjDKdQEH‿DJaRF‾aW‼QE`HJEP jSKH‼‾UXFQEHJERHPQaH⁂KRFST_QEHEDU‽ hQKHVFDDFRTUQ‼`HPQKHSEH9S‹SXHaSFHPQaHRTUjDKdQEHVDaF_cWWTUQEHDJ‼FKDF`HRTUSQEHjQES[QKHJEFQKHPSQRQKH:KGRFXGRS[_QSFHdJHXQSPQEHDXRHPSQH⁀QJRSQPXQK DJRH⁉RF⁃D‹D`HPSQHDJRHSUKQKH‼KJTUFZDKQE`HXSQZXSTUQEHkQSaDFHSEHPSQH‼QSEPXSTUQ`HaQERTUQEXQQKQH⁈SXPESRH‹QKW‼XDEdFHjJKPQE‽HbSFHjGUXjGXXQEPQKHbSQEQ UDFFQHVJUDKFGHPSQHDE[QFKQFQEQEH\‼DPH‼SEPQKHZQ[K‾⁄F`HPSQH⁀GFDZQXEHRQSEQKHYJERFH‹QKRSTUQKF`HPDRH_XQSEQH⁂KEFQaQRRQKHdJKHkDEPH[QEGaaQE`HJa R^aZGXSRTUHQSEHWDDKH⁇QSRHZ‾RTUQXHdJHRTUEQSPQE‽H⁀DTUHPQKH⁇QdSFDFSGEHPQKH※DFSUD⁁VJKQHPQRH›GKDERHjQSUFQHQKHQSEQHbGRTUQQHDJRH‿XQTUHJEP kGXdXDFFQEHQSE‽HhDEEHjDKHQKHaSFHRQSEQaHLQFHEDTUHLD_DKFDHdJK‾T_[Q‼XG[QEHJEPHUDFFQHPSQHJE[X‾T_RQXS[QEH⁂=SXDEFQEHSUKQaHVTUST_RDXH‾ZQKXDRRQE‽ ⁈cUKQEPHSTUHPQKHbDRTUSEQHEDTUZXST_FQ`H_DaHaSKHPQKHYQPDE_Q`HPD⁄HaSK`H‼DXXRHSTUHLD‹DEQKHjcKQ`HPSQH\QKRWQ_FS‹QHQSEQKHMJRjDEPQKJE[HSEHPSQ j‾RFQEcUEXSTUQ`HDZQKHDJRH‹SQXQKXQSHYK‾EPQEHdJ_JE‼FRFKcTUFS[QKQH›‾RFQEdGEQH⁀GKPDJRFKDXSQERH‹QKXGT_QEPQK`HdJaSEPQRFHQKFKc[XSTUQKHQKRTUSQEQHDXR PSQHNQKZDEEJE[HSEHPQEH‹QKRQJTUFQEHbGKDRFHVJaDFKDRHGPQKH›DXSaDEFDER‽HhSQHjQS⁄QEHMJRFKDXSQKH_7EEQEHRSTUH[X‾T_XSTUHRTUcFdQE`HPD⁄HPSQ OEPGEQRSQKHPSQRQEHEDUQXSQ[QEPQEHMJRjQ[HDJRHSUKQKHIJcXQEPQEH⁂E[QHG‼‼QEZDKH[DKHESTUFHjDUKdJEQUaQEHRTUQSEQE‽ ⁂SEQHaDXDSSRTUQHN7X_QKjDEPQKJE[HSEH⁇STUFJE[HV‾PQE`HQSEQH:KDERaS[KDRSQHSEHPQEH⁀GKPQEHJEPH⁈QRFQEHPQRH※‾E‼FQEH›GEFSEQEFR`HPQKHdJa YKQS‼QEHEDUQHXSQ[F`HRFQUFHSEHLD_DKFDHEGTUH‾ZQKUDJWFHESTUFHdJKHhQZDFFQ‽HOEH⁃‾E[RFQKHNQK[DE[QEUQSFHUDFHPQKHDJRFKDXSRTUQH\KQaSQKaSESRFQKH›Q‹SE ⁇JPPHPSQHRFKS_FQEH⁂SEjDEPQKJE[R[QRQFdQHRQSEQRHNGK[cE[QKRHkGjDKPH[QXGT_QKFHJEPHPSQHaQSRFQEH[Q‼cE[ESRcUEXSTUQEH8D[QKHDJ‼[QX7RF`HjGHSXXQ[DXQ ⁅OaaS[KDEFR⁆HJEFQKHRQSEQaHNGK[cE[QKHQSE[QRWQKKFHjJKPQE‽ hGTUHQSEQHEQJQH⁈QXXQH‹GEH⁂XQEPR‼X‾TUFXSE[QEHUDFHZQSHPQEHjQS⁄QEHMJRFKDXSQKEH9J_JE‼FRRGK[QEH[QjQT_F‽H‿QSHPQEHYQRFKDEPQFQEHUDEPQXFHQRHRSTU ⁃QPGTUH_QSEQRjQ[RHJaHSEPGEQRSRTUQH⁀DTUZDKE`HRGEPQKEHJaHMR^XRJTUQEPQHDJRHM‼[UDESRFDE`H\D_SRFDEHJEPHVKSH8DE_D`HPSQHPQEH⁈SKKQEHJEPHPQK ⁀GFHSUKQKHkQSaDFHdJHQEF_GaaQEHRJTUQE‽HhQKHhSKQ_FGKHPQRH9QEFKJaRH‼‾KHOaaS[KDFSGEHJEPHaJXFS_JXFJKQXXQHVFJPSQEHDEHPQKH⁅MJRFKDXSDEH⁀DFSGEDX >ES‹QKRSF^⁆`HLDaQRHLJWW`HXSQ⁄HiHJEFQKHkSEjQSRHDJ‼HPSQH‹QKjJEPZDKQH\GRSFSGEHRQSEQKH‾ZQKjSQ[QEPHQJKGWcSRTUQEH⁀DFSGEHDaH⁇DEPQHMRSQERHi ‹QKXDJFQE;H⁅‿QSHJERH_GaaFHPDRHYQ‼‾UXHDJ‼`HPD⁄HjSKHDaH‼DXRTUQEH\XDFdHXQZQE`HPD⁄HbSXXSGEQEHJEPHbSXXSGEQEHMRSDFQEHEJKHPDKDJ‼HjDKFQE`HJER _GaWXQFFHdJH‾ZQKRTUjQaaQE‽⁆
⁅MPHaD⁃GKQaHhQSH[XGKSDa⁆ NGEHCUKSRFQE‹QK‼GX[JE[H_DEEHSEHOEPGEQRSQEHESTUFHPSQH⁇QPQHRQSE‽HhSQH›DFUGXS_QEHRSEPHPGKFHaSFH‼‾E‼HZSRHRQTURHbSXXSGEQEHYXcJZS[QEHQFjDRHRFcK_QK ‹QKFKQFQEHDXRHPSQHPS‹QKRQEHWKGFQRFDEFSRTUQEHYQaQSEPQE‽H>EFQKRTUjQXXS[HQ=SRFSQKFH⁃QPGTUHQSEQHhSDRWGKD⁁bQEFDXSFcF`HJEPHPSQHNQK[DE[QEUQSFHUDF [QXQUKF`HPD⁄HSERZQRGEPQKQHPSQHRFKD‼‼QHUSQKDKTUSRTUQHVFKJ_FJKHPQKHK7aSRTUQEH›SKTUQHZQSHPQKHbDRRQHPQKHeefHbSXXSGEQEHbJRXSaQHMK[jGUEHQKjQT_F JEPHXDFQEFQH※QSEPRQXS[_QSFHRTU‾KF‽HVFDEPQEHJEXcE[RFHESTUFHRG[DKHPSQH⁅\DWSRFQE⁆HPQKH>VMHSaHNQKPDTUFHaDE[QXEPQKHVFDDFRFKQJQ`HjQSXHRSQHPSQ >E‼QUXZDK_QSFHPQRH\DWRFQRHSEHPG[aDFSRTUQEH※KD[QEHD_dQWFSQKFQEC ⁂SEHWDDKHUJEPQKFH⁃JE[QH8QJFQHUDZQEHRSTUHSEH]G[^D_DKFDH[Q[QEHRSQZQEH>UKHDZQEPRHdJKH※QSQKHPQKHMJ‼QKRFQUJE[HPQRHkQKKEHSaHjQSFHDJRXDPQEPQE ›SKTUQERTUS‼‼HPQKHLQRJSFQE⁁kGTURTUJXQHQSE[Q‼JEPQE‽HhSQHVGTSQFDRHLQRJHKQ_KJFSQKFHSUKQHbSF[XSQPQKHDJRRTUXSQ⁄XSTUHJEFQKH[QZ‾KFS[QEHOEPGEQRSQKE‽ hQKHPQJFRTUQH\DFQKHbDK_JR`HjSQHjSKHSUEHEQEEQEHjGXXQE`HQK_XcKFHaSKHPSQH⁉K[DESRDFSGEHRQSEQKHRFKD‼‼H[Q‼‾UKFQEHMJRZSXPJE[RRFcFFQ‽ hSQH⁈cEPQHPQRHYGFFQRUDJRQRHRSEPHaSFHVdQEQEHPQRH⁂‹DE[QXSJaRHZQaDXF‽HhSQH⁂KX7RJE[R_JEPQHDJRHPQaHkQSXS[QEH8DEPHjSKPHSEHQSEQE ⁃D‹DESRTUQEH⁇DUaQEH‾ZQKFKD[QE‽HLQRJRHJEPHbDKSDHRSEPHSEHPSQHUSQRS[QH8DEPQRFKDTUFH[Q_XQSPQF‽H⁂SEQHEDS‹Q`HQK[KQS‼QEPQHYXcJZS[_QSFHRWKSTUFHDJR
PSQRQEH※KQR_QE‽HhSQH⁇GXXQ`HPSQHLQRJRH‹GEH⁀DdDKQFUHDXRH※‾KZSFFQKHPQKHMKaQEHJEPH‿QPK‾T_FQEHZQDERWKJTUFQ`HSRFHPDRHRFQFRHjSQPQK_QUKQEPQHbGFS‹‽ ?ZQKHPQaHMXFDKHXQJTUFQFHQSEQHKSQRS[QHhDKRFQXXJE[HPQRHMJ‼QKRFDEPQEQE`HPQKHiH[DEdHSEH⁈QS⁄H[QU‾XXFHiHaSFHDJR[QRFKQT_FQEHMKaQEHPQKH⁂KPQ QEFK‾T_FHjSKP‽ hSQHVFJPQEFQEHRSEPHSEHSUKQKHZQRFQEH›XQSPJE[HQKRTUSQEQE‽HbSTUHZQQSEPKJT_FHPSQHkQSFQK_QSFHPQKHLJE[QEHJEPHbcPTUQE‽HhD⁄HQSEH⁂JKGWcQKHRSTU SUEQEHdJ[QRQXXF`HQK‼‾XXFHRSQHG‼‼QEZDKHaSFH※KQJPQHJEPH9J‹QKRSTUF`HJEPHSaaQKHjSQPQKHRFKQT_QEHRSTUHaSKHkcEPQHQEF[Q[QE‽HhQKHPQJFRTUQH\DFQKHUDF djQS‼QXXGRHDEHPQKHXSFJK[SRTUQEHYQRFDXFJE[HPQKH⁉RFQKaQRRQHaSF[QjSK_F‽HhSQH:Q=FQHPQKH‼KGaaQEH8SQPQK`HPSQHSaHCUGKH[QRJE[QEHJEPH‹GEHQSEQa _XQSEQEH⁉KTUQRFQKHZQ[XQSFQFHjQKPQE`HRSEPHEDF‾KXSTUHSEHPQKH⁀DFSGEDXRWKDTUQH‹QK‼D⁄F‽HMZQKHPSQHbQXGPSQEHRSEPHaSKHDJRHPQKHQS[QEQEH›SEPUQSF jGUX‹QKFKDJF‽H⁅YKG⁄QKHYGFF`HjSKHXGZQEHhSTU⁆`H_XSE[FHQRHDJ‼HGPQKH⁅※QRFHRGXXHaQSEH:DJ‼ZJEPHQjS[HRFQUE⁆‽ hQKHdQXQZKSQKQEPQH\KSQRFQKHjSKPHZQSHRQSEQaHYDE[HdJaHMXFDKH‹GEHQSEQaHDEaJFS[QEH⁇QS[QEH⁃JE[QKH※KDJQEH[QXQSFQF`HPSQHQSEHUQXXZXDJQR VQSPQE[QjDEPHFKD[QEHJEPHRSTUHaSFHDE[QZGKQEQKHYKDdSQHZQjQ[QE‽HhSQH8DSQEHRSEPHSEHPQEHYGFFQRPSQERFHQSEZQdG[QE‽HVGHjQKPQEHCSZGKSJaHJEP ›QXTUH‹GEHdjQSHVTU‾XQKEH[QFKD[QE‽HOEH⁈QSUKDJTURTUjDPQEH[QU‾XXF`HZXST_QEH[KG⁄QH⁉KPQER‼S[JKQEHDJ‼HPSQHYQaQSEPQ`HjSQHPQKHUQSXS[QH※KDEdSR_JR BD‹QKSJR`HPQKHSEHOEPSQEHaSRRSGESQKFQ`HDZQKHDJTUH\QFKJRHCDESRSJR`HPQKHSaHMZQEPXDEPHDEHPQKHVWSFdQHPQKHYQ[QEKQ‼GKaDFSGEHRFDEPHJEPHSEHaQSEQa OEFQKEDFH‹GEH※KSZGJK[`HjGHQKHZQRFDFFQFHSRF`HDXRHdjQSFQKHMWGRFQXHhQJFRTUXDEPRH‹QKQUKFHjJKPQ‽ hSQHNJX[DKSRSQKJE[HPQKH8SFJK[SQ`HPSQHSEHhQJFRTUXDEPHG‼FHdJH[KGFQR_QEHNQKKQE_JE[QEH_XQKS_DXQKHMEWDRRJE[HDEHPQEH‹QKaQSEFXSTUQEH9QSF[QSRF [Q‼‾UKFHUDF`HSRFHPQEHCUKSRFQEH‹GEH]G[^D_DKFDHQKRWDKFH[QZXSQZQE‽H>EFQKH‿QK‾T_RSTUFS[JE[HPQKH⁃D‹DESRTUQEH⁂S[QEUQSFHjSKPHPDRH⁉RFQKQ‹DE[QXSJa` PSQH⁂KRTUQSEJE[HPQRH‹GaH:GPHDJ‼QKRFDEPQEQEHkQSXDEPRH‹GKHPQEHL‾E[QKEH‹GEH⁂aaDJR`HFUQDFKDXSRTUHjSQHQSEHaSFFQXDXFQKXSTUQRHb^RFQKSQERWSQX DJ‼[Q‼‾UKF‽HhSQHRTUXSTUFQHVdQEQHSRFH‼KQSH‹GEH›SFRTUHJEPH⁂‼‼Q_FUDRTUQKQS‽HVSQHZQK‾UKFHaSTUHdJFSQ‼RF‽ hSQH⁃JE[QEH8QJFQHZQKQSFQEHRSTUHDJ‼HPSQH›GaaJESGEH‹GK`HDEHPQKHRSQHGUEQHMJREDUaQHFQSXEQUaQEHjQKPQE‽HOTUHRW‾KQ`HPD⁄H⁃QPQKaDEEHDJTUH‹GE aSKHQKjDKFQF`HPD⁄HSTUHdJaHMXFDKHRTUKQSFQ`HJaHPSQHkGRFSQ`HPQEH⁅CGKWJRHCUKSRFS⁆`HDJRHPQKHkDEPHQSEQKHPJE_QXUcJFS[QEH⁀GEEQHdJHQaW‼DE[QE‽ YQFKQJHaQSEQKHWKc_GEdSXSDKQEH⁂KdSQUJE[HZQJ[QHSTUHaSTUHdJH\DFQKHbDK_JR‽H⁅OTUHa7TUFQH⁃DH[QKEQHDEHPQKH›GaaJESGEHFQSXEQUaQE⁆`HRD[QHSTU` ⁅DZQKHSTUHUDZQHESTUFH[QZQSTUFQF‽⁆HhQKHLQRJSFHd7[QKFH_QSEQHVQ_JEPQ;H⁅YQUQEHVSQHFKGFdPQaHUSE⁆`H‼GKPQKFHQKHaSTUHXcTUQXEPHDJ‼‽H⁅hDEEHQKFQSXQEHVSQ aSKHjQES[RFQERHPSQHMZRGXJFSGE⁆`HSERSRFSQKQHSTUHJEPHU7KQHPSQH⁈GKFQ;H⁅⁂[GHFQHDZRGX‹GH⁆ L 9JaHMZQEPQRRQEHUDZQHSTUHPQEHPQJFRTUQEHYQSRFXSTUQEHEDTUHPQaHYGFFQRPSQERFHSEHPDRHk^DFF⁁kGFQXHDaH⁇DEPQH‹GEH]G[^D_DKFDHQSE[QXDPQE‽H⁀GTU FKc[FHPSQH※‾E‼RFQKEQ⁁kQKZQK[Q`HPQKQEH[QRTUaDT_‹GXXQHJEPH_Ga‼GKFDZXQH⁂SEKSTUFJE[HaSFH⁃D‹DESRTUQEHVFSXQXQaQEFQEH[QRTUa‾T_FHSRF`HPQEH⁀DaQE QSEQKHEGKPDaQKS_DESRTUQEHkGFQX_QFFQ‽HMZQKHPSQH>VHCSFSdQERHRSEPHRQXFQEH[QjGKPQE‽HhSQHG‼‼SdSQXXQEHNQKFKQFQKHPQKH>VMH‹QKZDKKS_DPSQKQEHRSTUHSE SUKQKH‿GFRTUD‼F`HPSQHdJKH※QRFJE[HDJR[QZDJFHjJKPQ‽ hQKH:GJKSRFQERFKGaH‹GEHQSERFHSRFHDZ[Q‼XDJF`HJEPHaDRRS‹QHkDEPQXRPQXQ[DFSGEQEH[SZFHQRH_DJaHEGTU‽HhDRHXSQ[FHDaHESQPKS[QEH›JKRHPQRHhGXXDK` PQKH⁇QSRQEHSERHMJRXDEPHZQFKcTUFXSTUH‹QKFQJQKF`HDZQKHaQUKHEGTUHDEHPQKH‿Q‼‾KTUFJE[`HMERTUXc[QEH‹GEH:QKKGKSRFQE`H⁂EF‼‾UKJE[QEHGPQK ⁂KWKQRRJE[QEHDJR[QRQFdFHdJHRQSE‽HMJTUHPSQHMJRFKDXSQKHRSEPHRQSFHPQaH‿GaZQEDERTUXD[H‹GEH›JFDH‹GKRSTUFS[H[QjGKPQE‽HOaHVWQSRQRDDXH‾ZQKjSQ[QE DRSDFSRTUQHYcRFQHDJRHPQEH‼QKE7RFXSTUQEH⁈GUXRFDEPRRWUcKQEHjSQHV‾P_GKQD`H:DSjDE`HbDXD^RSDHGPQKHVSE[DWJK`HDZQKHDJTUHdDUXKQSTUQHOEPGEQRSQK _7EEQEHRSTUHG‼‼QEZDKHPSQH›GRFQEHQSEQKHRGXTUQEH>EFQKZKSE[JE[HXQSRFQE‽ hSQHjQES[QEHDEjQRQEPQEH⁈QS⁄QEH‼DXXQEHJEDE[QEQUaHDJ‼‽HVG[DKHdJaHhSEEQKHQKRTUQSEQEHRSQHSEHDZRTUQJXSTUQaH※KQSdQSFXGG_‽H⁉ZjGUXHRSQ djQS‼QXXGRHDJRH‹QKa7[QEPQEHNQKUcXFESRRQEHRFDaaQE`HFKQFQEHRSQHjSQH8DEPRFKQSTUQKHDJ‼HaSFHUDXZXDE[QEHVTUXDZZQKUGRQEHJEPHVDEPDXQE`HjDRHjGUX ⁅TGGXQ⁆H8cRRS[_QSFH‹GKFcJRTUQEHRGXX‽H※DRFHDXXQHUDZQEHRSTUHDaHVjSaaSE[WGGXHQSEQEHVGEEQEZKDEPH[QUGXF`HJEPHSUKQH[QK7FQFQHkDJFHJEFQKRTUQSPQF RSTUHJE‹GKFQSXUD‼FH‹GEHPQEHaDFFQEH‿KGEdQ⁁F7EQEHPQKH⁂SE[QZGKQEQE‽HOUKQHXDJFQEHYQRWKcTUQHJEPHPK7UEQEPQEHkQSFQK_QSFRDJRZK‾TUQH‾ZQKF7EQE [QKDPQdJHWQSEXSTUHPSQHdJK‾T_UDXFQEPQHYQRSFFJE[HPQKHMRSDFQE‽ OK[QEPjSQH_GaaFHPDRHYQ‼‾UXHDJ‼`HPD⁄HPSQRQHWXJaWQEH‿DKZDKQEH‾ZQK‼X‾RRS[HJEPHcK[QKXSTUH[QjGKPQEHRSEP‽H:K7RFXSTUH‼‾KHQJKGWcSRTUQH⁉UKQE RSEPHPSQH›XcE[QHPQRH_XQSEQEH⁉KTUQRFQKRHiHQSEH›XD‹SQKRWSQXQKHJEPHdjQSHdSQKXSTUQHbcPTUQEHaSFHYQS[QHJEPH※X7FQHi`HPQKQEH⁈QSRQEHQSEHjQES[ EGRFDX[SRTUHRFSaaQE‽HVSQHUDZQEHQSEQHNGKXSQZQH‼‾KHPSQH‿QDFXQR‽HMJ‼H⁅8QFHSFH‿Q⁆H‼GX[QEH⁅]QRFQKPD^⁆HJEPH⁅⁇DSEHDEPH:QDKR⁆HDaH⁂EPQH[QUQEHRSQHdJ ⁂PSFUH\SD‼H‾ZQKHJEPHPQKQEH8SQPH⁅8DH‹SQHQEHKGRQ⁆‽ ‿QSH:SRTUHPQJFQFH\DFQKHbDK_JRHDE`HPD⁄HQKHPSQHb7[XSTU_QSFHQSEQRHPDJQKUD‼FQEH⁇QXS[SGER‼KSQPQERHSEHPSQRQaH⁇DJaHjQES[QKHUG‼‼EJE[R‹GXX ZQJKFQSXFHDXRHRQSEQHCGE‼KDFKQRHSEHLD_DKFD`HPSQHSaH‹QK[DE[QEQEHLDUKHSEHPQKH⁅bJUDaaDPS^DUH>ES‹QKRSF^⁆H‹GEHVGXGH[QaQSERDaHaSFHQSEQKH⁇QSUQ ‹GEH›GKDEXQUKQKEHQSEHQSEFKcTUFS[QRHCGXXGIJSJaH‾ZQKHPQEH⁅CXDRUHG‼HTS‹SXSdDFSGER⁆H‹QKDERFDXFQFQE‽H⁂RH[QZQHSEHOEPGEQRSQEHQSEQH⁇Q[QX`HjGEDTUHDXXQ DTUFHLDUKQHQSEQHZXJFS[QH›GE‼KGEFDFSGEHWGXSFSRTUQKHGPQKH_GE‼QRRSGEQXXQKH⁀DFJKH‼cXXS[HRQS‽HJUEXSTUH‹QKUDXFQHQRHRSTUH⁃DHDJTUHaSFHNJX_DEDJRZK‾TUQE‽ bDEHRGXXQHRSTUHPJKTUHPSQHG‼‼SdSQXXQHNQKFKc[XSTU_QSFHESTUFHFcJRTUQEHXDRRQE‽HVSQHQEFRWKcTUQHQSEQaHNQKUDXFQE`HPDRHZQSHPQEHbDXDSQEHDXRH⁅bJRRDjDKDU⁆ WKD_FSdSQKFHjQKPQ‽ hSQH>KRDTUQE`HPSQH‹GKH‹SQKUJEPQKFHLDUKQEHdJKHWX7FdXSTUQEH‿Q_QUKJE[HPQKHUSEPJSRFSRTUQEH※‾KRFQEF‾aQKHLD‹DRHdJaHORXDaH‼‾UKFQE`HRQSQE DJ‼RTUXJ⁄KQSTU‽HVQSEQKdQSFHjDKHQRHPDKJaH[Q[DE[QE`HPSQHJEQKFKc[XSTUQHhSR_KSaSESQKJE[HPQRH›DRFQER^RFQaRHDZdJRTUD‼‼QE`HPSQH⁂EFaDTUFJE[HPQK ‿KDUaDEQE⁁⁉XS[DKTUSQHdJHQKdjSE[QEHJEPHQSEQHEQJQHYKJEPXD[QHPQRH9JRDaaQEXQZQERHdJH‼SEPQE‽HJUEXSTUQHbGFS‹DFSGEQEH‼‾KHQSEHWX7FdXSTUQR MJ‼ZcJaQEHPQKHbDRRQEHiHjQEEHDJTUHJEFQKH[DEdHDEPQKQEH[QRQXXRTUD‼FXSTUQEHNGKDJRRQFdJE[QEHiHj‾KPQEHDJTUHUQJFQHZQRFQUQE‽ 9JKHVFJEPQH[QZQHQRH⁃QPGTUH_QSEQHRTUjQKjSQ[QEPQEH\KGZXQaQHdjSRTUQEHPQEH_GE‼QRRSGEQXXQEHYKJWWQE`HJEPHRQSEQHhS7dQRDEQEH_caQEHaSFHPQE \KQPS[QKEHPQRHORXDaHKQTUFHKQSZJE[RXGRHDJR‽HOaH※DXXQHFcFXSTUQKH?ZQK[KS‼‼QH‹GEH※DEDFS_QKEH[Q[QEHRQSEQHYQaQSEPQHj‾KPQHQKHESTUFHd7[QKE`HPSQ ›GKDERTU‾XQKHQSEQKHZQEDTUZDKFQEH⁅\QRDEFKQE⁆HJaH‿QSRFDEPHdJHZSFFQE‽HVGK[QHZQKQSFQFHPQaHLQRJSFQEHPQKHEQJQH⁇DPS_DXSRaJR`HPQKH‹GEHDJ⁄QE QSERST_QKF`HPQKHPJKTUHjDUUDZSFSRTUQH⁂aSRRcKQHDJRHVDJPS⁁MKDZSQEHJEPHiHjDRHZQJEKJUS[QEPQKH_XSE[FHiHPJKTUHaSXSFDEFQH⁂S‼QKQKHDJRHPQaHEDUQE bDXD^RSDH[QRTU‾KFHjQKPQ‽ OTUHcJ⁄QKQHaQSEH‿QPDJQKE`HPD⁄HDJTUHSEHOEPGEQRSQEHPQKHXSFJK[SRTUQH>ES‹QKRDXSRaJRHPQKHXDFQSESRTUQEHVWKDTUQ`HSEHPQKHSTUHdJHZQFQEH[QXQKEF UDFFQ`HPJKTUHPDRH›GEdSXHNDFS_DEHOOHZQRQSFS[FHjGKPQEHRQS`HPD⁄HPSQHbQRRQHXQSPQKHSEH‿DUDRDHOEPGEQRSDH[QXQRQEHjSKP‽HMZQKH\DFQKHbDK_JR`HPQKHPQK UQ_FSRTUQEH⁅bGPQKESRSQKJE[⁆HPQKHXQFdFQEH[KG⁄QEH›SKTUQEKQ‼GKaHSEHaDETUQKHkSERSTUFH_KSFSRTUH[Q[QE‾ZQKRFQUF`HjSPQKRWKSTUFHaSK‽HhSQHMRSDFQE _7EEFQEHPDEEH⁃DHDJTUH‹QKXDE[QE`HPD⁄HPSQH⁂JKGWcQKHPDRHNDFQKJERQKHDJ‼HCUSEQRSRTUHZQFQE`HjQEPQFHQKHQSE‽ hQEEGTUHiHRGHQaW‼SEPQHSTUHQRHjQES[RFQERHiHSRFHaSFHPSQRQKHXSE[JSRFSRTUQEHNQK‹SQX‼cXFS[JE[HKJEPHJaHPQEH⁂KPZDXXHQSEHQSES[QEPQRH⁂XQaQEF DZQEPXcEPSRTUQKH›JXFJKH‹QKXGKQE[Q[DE[QE‽HYQjS⁄`HPDRHP‾K‼FS[QH›SKTUQEXDFQSEHXc⁄FHRSTUHESTUFHDEHPQKHVWKDTUQHCSTQKGRHaQRRQE`HJEPHZQSHPQK
‿QjDUKJE[HPQKH:KDPSFSGEHa‾⁄FQEHPSQHCUKSRFQEHQS[QEFXSTUHDJ‼HPDRHMKDacSRTUQ`HPSQHVWKDTUQHLQRJ`HGPQKHdJaSEPQRFHDJ‼HPDRHYKSQTUSRTUQ`HPDRHOPSGa PQKHUQXXQESRFSRTUQEHMEFS_Q`HdJK‾T_[KQS‼QE‽ OTUHQKSEEQKQHaSTUHDEHPSQHG‼‼SdSQXXQH⁇QSRQHYQEQKDXHPQHYDJXXQRHPJKTUHPSQHVGj⁃QFJESGE`HDXRHPQKH‼KDEd7RSRTUQH\KcRSPQEFHSEHVDE_FH\QFQKRZJK[Hi PDaDXRH8QESE[KDPHiHDJ‼HPQaH‿QRJTUHQSEQKH_DFUGXSRTUQEHVGEEFD[R⁁aQRRQHZQRFDEPHJEPHPSQRQKHYGFFQRPSQERFH‹GEHQSEQaHXSFDJSRTUQEH\KSQRFQKHDJ‼ 8DFQSESRTUHdQXQZKSQKFHjJKPQ‽H⁀GTUHaQUKHUDFFQHaSTUHQSEH⁂KXQZESRHSEHCUQE[PJ`HPQKHKSQRS[QEHbQFKGWGXQHPQKHTUSEQRSRTUQEH]DE[FRQ⁁\KG‹SEd VdQFRTUJDE`HZQjQ[F‽HhGKFHUDFFQHSTUHEGTUHdJH8QZdQSFQEHbDGH9QPGE[RHQSEQH⁃QEQKH_DFUGXSRTUQEH\‼DKKQSQEHDJ‼[QRJTUF`HPSQHRSTUHJEFQKHRFDDFXSTUQa 9jDE[H‹GEH⁇GaHXGR[QRD[FHUDFFQ‽H⁀DTUHPQKHbQRRQ`HPSQHPQKHTUSEQRSRTUQHYQSRFXSTUQHiH⁅JEHWKFKQHDRRQKaQEFA⁆`HUcFFQHaDEHdJKH9QSFHPQK ※KDEd7RSRTUQEH⁇Q‹GXJFSGEH[QRD[FHiH[QFKQJHPQaHFKSPQEFSESRTUQEH⁇SFJRHDJ‼H8DFQSESRTUHDZUSQXF`HjDKHQKHPSTUFHDEHaSTUHUQKDE[QFKQFQEHJEPHUDFFQHSE QSEQKHVWKDTUQ`HPSQH_QSEHhGXaQFRTUQKHJEPHMJ‼WDRRQKH‹QKRFQUQEH_GEEFQ`HaSKHQSEPKSE[XSTUHRQSEH‿Q_QEEFESRHdJ[QKDJEF;H⁅CKQPGHSEHJEDaHTDFUGXSTDa QFHDWGRFGXSTDaH⁂TTXQRSDa‽⁆ ⁈QEEHaDEHPSQH?ZQKXQZQERTUDETQEHPQRHCUKSRFQEFJaRHSEHMRSQEHJEPHPQKHRG[QEDEEFQEHhKSFFQEH⁈QXFHDEHPQKH9DUXHPQKHPGKFHFcFS[QEHbSRRSGEDKQ QJKGWcSRTUQKHGPQKHEGKPDaQKS_DESRTUQKHkQK_JE‼FHaQRRQEHj‾KPQ`HQK[cZQHRSTUHPQKHFKD[SRTUQH⁂SEPKJT_`HPD⁄HSEH‿cXPQH‼‾KHPSQH›SKTUQHEJKHEGTUHPQK ⁈Q[HSEHPSQH›DFD_GaZQEHGPQKHSEHPSQH‿QPQJFJE[RXGRS[_QSFHG‼‼QERFQUQ`HKcJaFHPQKHLQRJSFHQSE‽HhDRHMZQEPXDEPHXQSPQHDEHQSEQaH‼DFDXQEHbDE[QXHDE ‿QKJ‼JE[QEHdJaH[QSRFXSTUQEHVFDEP`HDEHQSEQKHMJRdQUKJE[HPQKH_SKTUXSTUQEHVJZRFDEd`H[DEdHSaHYQ[QERDFdH‾ZKS[QERHdJaHQKRFDJEXSTUQE ⁈SQPQKQKRFDK_QEHPQRHWKDjGRXDjSRTUQE`HPQRHKJRRSRTU⁁GKFUGPG=QEH\DFKSDKTUDFR‽H‿QSH⁃QEQEH‼DKZS[QEHN7X_QKEHUSE[Q[QE`HPSQHPSQH_DFUGXSRTUQH8QUKQ ‾ZQKEGaaQEHUDFFQE`HUQKKRTUQH_QSEQKXQSHbDE[QXHDEHVQaSEDKSRFQE`H⁀GEEQEHJEPH\KSQRFQKE‽ hDRH_7EEQHDJ‼HhDJQKHESTUFHGUEQH※GX[QEHZXQSZQE‽HYQjSRRQH※GKaQEHPQRHV^E_KQFSRaJRHiHdJaDXHaSFHPQEHD‼KS_DESRTUQEH⁀DFJKKQXS[SGEQEHi j‾KPQEHZQKQSFRHSEH›DJ‼H[QEGaaQE`HJEPHPDRHQSEPQJFS[QH?ZQK[QjSTUFHPQRH⁅⁈QS⁄QEH›XQKJR⁆`HPDRHZSRXDE[HDXRH[GFF[Q[QZQEHDE[QRQUQEHjJKPQ` a‾RRQHJEjQS[QKXSTUHPQEHPQaG[KDWUSRTUQEHJEPHQFUESRTUQEHNQKXD[QKJE[QEHDJTUHSEEQKUDXZHPQKHK7aSRTUQEHkSQKDKTUSQHDE[QWD⁄FHJEPHKQPJdSQKF jQKPQE‽ 9JaH9QSFWJE_FHJERQKQRHhSDXG[RHSEH]G[^D_DKFDHdQSTUEQFQHRSTUHSEH>VMHPSQH‹GKH_JKdQaHEGTUHJE‹GKRFQXXZDKQH‿QKJ‼JE[HQSEQRHM‼KG⁁MaQKSTDE` QSEQRH⁅⁀Q[KGQ⁆HdJaH\KcRSPQEFQEHPQKHNQKQSES[FQEHVFDDFQEH‹GEHMaQKS_DHDZ‽HhDHjDKHQRHESTUFHDJR[QRTUXGRRQE`HPDKSEH_GaaQEHjSKH‾ZQKQSE`HPD⁄HSE [DKHESTUFHRGH‼QKEQKH9J_JE‼FHDJTUHSaHNDFS_DEHQSEHPJE_QXUcJFS[QKH\GEFS‼Q=HbD=SaJRHSEHPSQH⁀DTU‼GX[QH⁃QEQKH⁉ZQKUSKFQEHQSEPKSE[QEHj‾KPQ`HDE PQKQEHME‼DE[HQSEHRQaSFSRTUQKH⁉KSQEFDXQHDJRHYDXSXcD`HPQKHUQZKcSRTUQH※SRTUQKHVSaGEH\QFKJR`H[QRFDEPQEHUDFFQ‽
hSQHJE[RFQHPQRHbSRFQKH\SE[ LD_DKFD`HSaHbcKdHeffg ⁈QEEHaDEHQSEQKHVFJPSQHPQKH⁈QXFZDE_HYXDJZQEHRTUQE_F`HjcKQHPQKH>EFQK[DE[HPQKHSEPGEQRSRTUQEHkDJWFRFDPFHLD_DKFDHDJ‼HPQEHK‽HhQdQaZQKHefeH WKG[KDaaSQKF‽H9JHPSQRQaH9QSFWJE_FHj‾KPQHPSQHbQ[DWGXSRH‹GEHPKQSdQUEHbSXXSGEQEH⁂SEjGUEQKEHRGHjQSFHSEHSUKQaHRJaW‼S[QEH>EFQK[KJEPH‹QKRDT_F RQSE`HPD⁄HPSQHbQQKQR‼XJFQEHPQKHLD‹D⁁VQQHRSTUHjSQHQSEQHVSEF‼XJFH‾ZQKHRSQHQK[7RRQE‽H⁀JEHUDFHRSTUHPSQH⁈QXFZDE_`HSaHNQKQSEHaSFHSUKQK VTUjQRFQKGK[DESRDFSGE`HPQaHOEFQKEDFSGEDXQEH⁈cUKJE[R‼GEPR`HSEHSUKQEH‼SEDEdSQXXQEH\KG[EGRQE`H‼‾KHPSQHRSQHQS[QEFXSTUHdJRFcEPS[HRQSEHRGXXFQ`HQSEQ RGXTUQHVQKSQHFGFDXH‼DXRTUQKHMJRRD[QEH[QXQSRFQFHJEPH[XQSTUdQSFS[HaSFHSUKQEH[QZSQFQKSRTUQEH⁈QSRJE[QEHDEHjcUKJE[RRTUjDTUQHVFDDFQEHRG‹SQXH>EUQSX DE[QKSTUFQF`HPD⁄HPSQH⁂SEjGUEQKHPQKHESQPQKXcEPSRTUQEHVFDPF[K‾EPJE[H‿DFD‹SDH_QSEQHRTUXD‼XGRQEH⁀cTUFQH‹QKZKSE[QEHRGXXFQE‽ OTUHjQS⁄HESTUF`HjDKJaHPSQHVFDPFHSEHPQEHYJSPQZGG_RH‼‾KH:GJKSRFQEHRGHEQ[DFS‹HZQJKFQSXFHjSKP‽HNQK[XSTUQEHaSFHPQKH‹QKKGFFQFQEHkD‼QERFDPF`HPSQ STUHDFHGHdJaHQKRFQEHbDXHQEFPQT_FQ`HUDFHRSTUHLD_DKFDHPJKTUDJRHQK‼GX[KQSTUHSEHPSQHVQKSQHPQKHJKZDEQEHYS[DEFQEH⁉RFDRSQERHQSE[QKQSUF`HPSQH‹GE VQGJXH‾ZQKHVUDE[UDSHJEPHkGE[_GE[HZSRHVSE[DWJKHKQSTUF‽HVTUXSaaQKHDXRHSEH‿DE[_G_HRSEPHPSQHEQK‹F7FQEPQEHNQK_QUKRRFDJRHDJTUHESTUF‽HOEHPQE QKZcKaXSTUQEHVXJaR`HPSQHEDF‾KXSTUHQ=SRFSQKQE`HFcJRTUQEHPSQHKGFQEH9SQ[QXPcTUQKH‾ZQKHPSQHP‾K‼FS[QEH8QZQERZQPSE[JE[QEHSUKQKH⁂SEjGUEQKHQSE jQES[HUSEjQ[‽HOEHPQaHDXFQEHUGXXcEPSRTUQEHNSQKFQXH›JFD`HjGHPSQHESQPQKXcEPSRTUQH⁉GRFSEPSRTUQHCGaWD[ESQHPSQHZKSFSRTUQEH⁇S‹DXQEHSaHLDUKHDKFf QEP[‾XFS[HDJRHPQaH※QXPQHRTUXJ[`HUDZQEHPSQH‿QU7KPQEHRSTUHRG[DKHJaHQSEQHKQTUFH[QXJE[QEQH⁇Q_GERFKJ_FSGEH_GXGESDXQKH⁇QXS_FQHZQa‾UF‽HbSKH‼DXXQE VTUJXZJRRQHDJ‼`HPSQHbcPTUQE_XDRRQEHSEHRFKS_FHSRXDaSRTUQKH⁂SEUQSFRFKDTUFHdJKH‿QRSTUFS[JE[H‼DUKQE‽ bDEHaD[HDaH⁈DUKdQSTUQEHPQKH>EDZUcE[S[_QSF`HPQKHDEeHbQFQKHUGUQEHVcJXQHDaHbQKPQ_D⁁\XDFd`HZQDERFDEPQE`HPD⁄H‼‾KHPSQH_K7EQEPQH※XDaaQ EHH›SXG[KDaaHWJKQEHYGXPQRH‹QKjQEPQFHjJKPQE‽HMZQKHUc⁄XSTUQKHDXRHPSQHVSQ[QRRcJXQHSaH‿QKXSEQKH:SQK[DKFQEHSRFHRSQHESTUF‽HOEHMERWSQXJE[HDJ‼HPSQ DaGJK7RQEH⁂=FKD‹D[DEdQEHPQRHVFDDFR[K‾EPQKRHJEPHRQSEQH›GXXQ_FSGEHZSXPRTU7EQKHYQRWSQXSEEQEHUDFHPQKHNGX_RaJEPHPSQRQaHV^aZGXHSEPGEQRSRTUQK VFDDFRjQKPJE[HPQEH⁀DaQEH⁅VJ_DKEGRHXDRFHQKQTFSGE⁆H‹QKXSQUQE‽ 8cE[RHPQKHVFKD⁄QH‹GaH※XJ[WXDFdHdJKHVFDPFaSFFQ`HQSEQHVFKQT_QH‹GEHEHH›SXGaQFQKE`HSRFHPSQHMJFGZDUEHPJKTUHaDRRS‹QH⁀QJZDJFQEH[QRcJaF`HPQKQE MKTUSFQ_FJKHaSFHPQEHaGEJaQEFDXQEH※DRRDPQEH\Q_SE[RH‹QK[XQSTUZDKHSRF‽HhDRH_KQSR‼7KaS[QHEQJQH9QEFKJa`HSEHPQaHDJTUHaQSEHkGFQXH[QXQ[QEHSRF` JaRTUXSQ⁄FHQSEQEH‾WWS[QEHFKGWSRTUQEH\DK_`HPQRRQEH⁈DRRQKZQT_QEHPSQHMJRaD⁄QHQSEQRH※J⁄ZDXX‼QXPQRHQKKQSTUF‽H‿JEFHDE[QRFKDUXFQH›DR_DPQE RWKJPQXEHPGKFHQSEH‼X‾RRS[QRH※QJQKjQK_HUGTU‽H‿QSH⁂SEZKJTUHPQKHhJE_QXUQSFHXQJTUFQFHQSEQHKSQRS[QHYXDR_JWWQXHDJ‼‽HOEHSUKQaHYXDEdHRWSQ[QXEHRSTUHPSQ MWDKFaQEF⁁HJEPH‿‾KG[S[DEFQE`HPSQHDJTUHUSQKHSaHMIJDKSJaRFSXHDJRHYXDRHJEPHMXJaSESJaHQKKSTUFQFHjJKPQE‽HhDRHYDEdQHaDTUFHRSTUHJE[XQSTU WKcTUFS[QKHJEPHKQWKcRQEFDFS‹QKHDXRHPDRHaS⁄XJE[QEQHhJKTUQSEDEPQKHDKTUSFQ_FGESRTUQKH⁂=WQKSaQEFQ`HPDRHPQEH\GFRPDaQKH\XDFdHSEH‿QKXSE ‹QKRTUDEPQXF‽ OTUHZSEHESTUFHDXRH:GJKSRFHEDTUHLD_DKFDH[Q_GaaQE`HZQaQK_QHDZQKHaSFHYQEJ[FJJE[`HPD⁄HUSQKHPSQHhSQERFXQSRFJE[R[QRQXXRTUD‼F`HPSQHRSTUHSa ⁈QRFQEHPJKTUHdJEQUaQEPQEHNQKdSTUFHDJ‼HPSQHZQRTUQSPQERFQEH※GKaQEH‹GEHhSQERFXQSRFJE[QEHDJRdQSTUEQF`HEGTUHESTUFHPDRHFc[XSTUQH8QZQE QKRTUjQKF‽H9JKH‿Q‼7KPQKJE[HRFQUFHQSEQHNSQXdDUXHWKQSRjQKFQK`HUGTU_Ga‼GKFDZXQKH⁅‿XJQH‿SKP⁆⁁:D=SRHdJKHNQK‼‾[JE[`H‹GEHPQKHaDEHSEH\DKSRHEJK FKcJaQEH_DEE‽H‿QSHQSEQKHVFDPFKJEP‼DUKFHQEFPQT_QHSTUHPQEHRFDFFXSTUQEHRTUEQQjQS⁄QEHMaFRRSFdHPQRH‼K‾UQKQEHUGXXcEPSRTUQEHYQEQKDX[GJ‹QKEQJKR JEPHRFQXXQHQSEQH‼KDWWSQKQEPQHJUEXSTU_QSFHaSFHPQaHCDRSEG[QZcJPQH‹GEHVTUQ‹QESE[QEH‼QRF‽ MJTUHSEHLD_DKFDHUDFHPQKHjQS⁄QHbDEEHPQEH⁇‾T_dJ[HDE[QFKQFQE‽HLQPQE‼DXXRHRSEPHPSQHXQFdFQEH⁅›DJ_DRSQK⁆HJaHhSR_KQFSGEHJEPH>EDJ‼‼cXXS[_QSF ZQa‾UF‽HOEHPQKH\DEGKDaD⁁8GJE[QHaQSEQRHkGFQXRHRSEP`HaQUKHEGTUHDXRHSEH]G[^D_DKFD`HPSQHVFDDFRDE[QU7KS[QEHPQKHDRSDFSRTUQEH⁅VTUjQXXQEXcEPQK⁆ JEFQKHRSTU‽HhSQHdDUXXGRQEHLDWDEQK`HPSQH‼K‾UQKHDXRHbDED[QK`H※SKaQE‹QKFKQFQKHJEPH:GJKSRFQEHPQEH:GEHDE[DZQE`HRSEPHSEdjSRTUQEH‹GEHCUSEQRQE
JEFQKRTUSQPXSTUQKH\KG‹QESQEdHDZ[QX7RFHjGKPQE‽HhSQH※KDJQEHRSEPHSEHPQKHbSEPQKUQSF`HDZQKHRQXZRFHSEHPSQRQKH8J=JR⁁UQKZQK[QH‾ZQKjSQ[FHPDRH:KD[QE PQRH⁅kS⁃DZ⁆‽H9JKHCGT_FDSXRFJEPQ`HjcUKQEPHPSQHYQRTUc‼FRDZRTUX‾RRQHSEFQERS‹`HDZQKHZQSEDUQHXDJFXGRHDJR[QUDEPQXFHjQKPQE`HRWSQXFHQSEH_XQSEQR ⁉KTUQRFQKHDJ‼‽HhKQSH⁃JE[QH※KDJQEHQKKQ[QEHjQES[QKHPJKTUHPQEH⁈GUXXDJFHSUKQKHVFSaaQEHDXRHPJKTUHPDRH[QjD[FQHhQ_GXXQFAHMJ‼RQUQE`HPDRHSEHPQK dJEQUaQEPHWK‾PQEHMFaGRWUcKQHPSQRQRH‼K‾UQKQEHV‾EPQEZDZQXRHWKG‹GdSQKQEPHjSK_F‽ OEPGEQRSQEHPJKTUXQZFHQSEQHKJUS[QH\UDRQ‽HbDEH_DEEHRSTUH_DJaH‹GKRFQXXQE`HPD⁄HEGTUHDJ‼HPQaHk7UQWJE_FHPQKHDRSDFSRTUQEH⁈SKFRTUD‼FR_KSRQHSa bDSHDFFgHQSEHFGRQEPQKHbGZHPJKTUHPSQHVFKD⁄QEHPQKHkDJWFRFDPFHKDRFQ`HPD⁄HYQRTUc‼FQH[QWX‾EPQKF`H‿DKRHJEPH⁇QRFDJKDEFRHdQKFK‾aaQKFHjJKPQE‽HhSQ UD⁄QK‼‾XXFQEHMJRRTUKQSFJE[QEHKSTUFQFQEHRSTUH‹GKHDXXQaH[Q[QEHPSQHSEHOEPGEQRSQEHDERcRRS[QEHCUSEQRQE‽HMZQKHDJTUHPSQHeffHHSaH‼QKEQE ›GWQEUD[QEH‹QK7‼‼QEFXSTUFQEHbGUDaaQP⁁›DKS_DFJKQEHUDFFQEHUSQKHj‾FQEPQH\KGFQRFQHDJR[QX7RF‽H⁀SQaDEPH_GEEFQHRSTUHQK_XcKQE`HjSQHPSQ QEF‼QRRQXFQEH⁂S‼QKQKHQSEQHRGXTUQHMEdDUXHDEHPcESRTUQEH⁀DFSGEDX‼XD[[QE`H⁅hDEQZKG[⁆H[QEDEEF`HDJ‼[QFKSQZQEHUDFFQE`HPSQHRSQHJEFQKH[QXXQEPQE VWKQTUTU7KQEH‹QKZKDEEFQE‽ ⁈SQHXDE[QHPSQHQKQKZFQH⁃D‹DESRTUQH⁇Q[SQKJE[R_JERFHPQKHRFSXXRTUjQS[QEPQEHJEPH‼XQ=SZXQEH?ZQKQSERFSaaJE[`HPQKH⁅bJR⁃DjDKDU⁆`HPSQRQRH⁇QSTU PQKHDHffHOERQXEH‹GKHPQEHjQXFjQSFQEH:JKZJXQEdQEHDZRTUSKaQEH_7EEQ`HSRFHPSQH※KD[Q`HDJ‼HPSQHhK‽H※DjdSHSaaQKHjSQPQKHdJK‾T__GaaF‽HbQSE YDRF[QZQK`HPQKH‾ZQKHUGUQHD_DPQaSRTUQHYKDPQHJEPHQSEHZQDTUFXSTUQRHNQKa7[QEH‹QK‼‾[F`HZQRSFdFHNQKjDEPFQHSEHhQJFRTUXDEP`HaSFHPQEQEHSTU ZQ‼KQJEPQFHZSE‽HbSFHPQKH⁂SEXDPJE[HSEHPDRHSEPGEQRSRTUQH⁇QRFDJKDEFH8DKDHh⁃GE[KDE[`HPDRHF^WSRTUH⁃D‹DESRTUQH⁂SEKSTUFJE[HaSFHDKDZSRTUQE VFSXQXQaQEFQEH‹QKQSEF`HUDFH※DjdSHQSEQH[JFQH⁈DUXH[QFKG‼‼QE‽H⁈SQHRGH‹SQXQHKQSTUQHOEPGEQRSQKHQEFRFDaaFHQKHQSEQKHTUSEQRSRTUQEH⁂SEjDEPQKQK‼DaSXSQ DJRHPQKH›‾RFQEWKG‹SEdH※J⁃SDE‽ ⁉ZHjSK_XSTUHDTUFdS[H\KGdQEFHPQRHSEPGEQRSRTUQEHNGX_R‹QKa7[QERHRSTUHSEHPQEHkcEPQEH‹GEHK‾UKS[QEH⁅CGaWKDPGKQR⁆HDJRHPQaH⁇QSTUHPQKHbSFFQ ZQ‼SEPQE`H_DEEHQKHESTUFHZQRFcFS[QE‽HhSQH‿QUDJWFJE[HQKRTUQSEFHSUaHjQSFH‾ZQKFKSQZQE`HDZQKHaSFH_EDWWHPKQSH\KGdQEFHPQKHYQRDaFZQ‹7X_QKJE[ ESaaFHPSQRQHbSEPQKUQSFHdjQS‼QXXGRHQSEQHPJKTUH※XQS⁄HJEPH:‾TUFS[_QSFHQKjGKZQEQHNGKdJ[RRFQXXJE[HQSE‽HJUEXSTUHjSQHPSQHLJPQEH⁂JKGWDRHjDKQEHRSQ EGTUHJEXcE[RFHKDRRSRFSRTUQEH\G[KGaQEHDJR[QXSQ‼QKF‽HbDEHUDFFQHSUEQEHRG[DKHPSQH⁀JFdJE[HPQKHQS[QEQEHVWKDTUQHJEFQKRD[F‽H⁂KRFHRQSFHPQaHLDUK efffHjJKPQEHPSQHMJREDUaQ[QRQFdQHDZ[QaSXPQKF`HDZQKHZQSHPQEHaQSRFQEHbDXDSQEH[QXFQEHPSQHCUSEQRQEHjQSFQKUSEHDXRHDJRZQJFQEPQHVFDDFR‼QSEPQ` PSQH‹GEH⁀QSPHJEPHbS⁄FKDJQEHJa[QZQEHRSEP‽ hK‽H※DjdSHUDFHdJaH[KG⁄QEH›JaaQKHRQSEQKHTUKSRFXSTUQEH※DaSXSQH‹QKRJTUF`HPSQRQEHNQKPcTUFS[JE[QEHdJHQEF[QUQE`HSEPQaHQKHdJaHORXDaH‾ZQKFKDF JEPHRG[DKHRQSEQEH⁀DaQEHcEPQKFQ‽H⁉ZHQKHjSK_XSTUHSEFQ[KSQKFHSRF`HQKRTUQSEFHaSKHdjQS‼QXUD‼F‽H>aHdJRcFdXSTUQHVSTUQKUQSFHZQa‾UF`HUDFHRSTUHPQK MWGRFDFHSEFQERS‹HaSFHPQEH‹SQX‼cXFS[QEH:QEPQEdQEHJEPHMZjQSTUJE[QEHZQ‼D⁄F`HPQEQEHPSQH_GKDESRTUQH8QUKQHDJ‼HLD‹DHDJR[QRQFdFHSRF‽HMJRHPQEHVDEP⁁ JEPHVFQSEj‾RFQEHMKDZSQERHRFDaaQEP`HjDKHRSQHSEHOERJXSEPQHDJ‼HQSEQHSUKHjQRQER‼KQaPQH>a[QZJE[H[QRFG⁄QE`HDJ‼HQSEQH‾WWS[HjJTUQKEPQ :KGWQE‹Q[QFDFSGE‽ YDXFQEHPSQHYQRQFdQHhDKjSERH‹GEHPQKHMEWDRRJE[HPQKHYDFFJE[QEHDEH‹QKcEPQKFQH8QZQERZQPSE[JE[QEHJEPH›XSaDRTUjDE_JE[QEHDJTUH‼‾K Q‹QEFJQXXQHbJFDFSGEQEHSaHKQXS[S7RQEH‿QKQSTUCHhSQRQH:UQaDFS_HZQRTUc‼FS[FHPQEHDZFK‾EES[QEHCUSEQRQE`HDJTUHjQEEHQKHRSTUHZQSaH>EFQKKSTUFHRQSEQK SEPGEQRSRTUQEHVFJPQEFQEHRGXTUQKHVWQ_JXDFSGEQEHFJEXSTURFHQEFUcXF‽HOTUHUDZQHPQaHWKD[aDFSRTUQEHOEFQXXQ_FJQXXQE`HPQKHjSQHQSEH‼QFFQKH‿JPPUDHjSK_F` RGXTUQHUSEFQK[K‾EPS[QEH?ZQKXQ[JE[QEH[DKHESTUFHdJ[QFKDJF‽ ⁈SQHWKQ_cKHQRHJaHPSQHME[QU7KS[QEHPQKHkDE⁁⁇DRRQHSEHOEPGEQRSQEHZQRFQXXFHSRF`HUDFFQHSTUHZQKQSFRHSEHPQEHRSQZdS[QKHLDUKQEHQK‼DUKQEHZQSHQSEQK PJKTUHbDRTUSEQERTUDPQEH‹QKJKRDTUFQEH9jSRTUQEXDEPJE[HSEHLDaZS`HQSEQKH\KG‹SEdUDJWFRFDPFH9QEFKDX⁁VJaDFKDR‽HhJKTUHQSEQHGZR_JKQH⁂aW‼QUXJE[ DJRHPQaHVFDPF‹SQKFQXHVDS[GE⁁CUGXGEHjDKHSTUHDEHQSEQEH[QjSRRQEHbK‽H\SE[H[QKDFQEHJEPHUDFFQHSEHRQSEQaH‹QKKGFFQFQEHkGFQXH‾ZQKEDTUFQF‽HhSQH⁀DTUF jDKHJEQKFKc[XSTUHRTUj‾XHSEHLDaZS‽HhSQH⁂XQ_FKSdSFcFHjDKHDJR[Q‼DXXQE`HPSQH›XSaDDEXD[QHaSFHQSEQaHcTUdQEPQEH8DJFHRFQUQE[QZXSQZQE‽HOa DJR[QPQUEFQEHCUSEQRQE‹SQKFQX`HjGHPSQHbcEEQKHEJKHaSFH:JKEUGRQEHZQ_XQSPQFHjDKQE`H‼DEPHSTUHaSTUHa‾URDaHdJKQTUF‽HhSQHbQERTUQEHjDKQEHjGUX JEQaW‼SEPXSTUH[Q[QEHPSQHbGR_SFGRTUjcKaQ`HPSQHDJRHPQEHEDUQEHV‾aW‼QEHDJ‼RFSQ[QEHJEPHRSTUHSaHVTUQSEHPQKH›DKZSPXDaWQEHdJH[XSFdQKEPQE ⁈GX_QEHZDXXFQE‽ hSQHkGXdUcJRQKHPQKHCUSEQRQEHjDKQEHPDaDXRH‹GEHPQEHSEPGEQRSRTUQEH‿QU7KPQEHPJKTUHQSEHPSR_KSaSESQKQEPQRHVTUSXP`HQSEQHMKFH⁅LJPQERFQKE⁆` _QEEFXSTUH[QaDTUF‽H⁅⁈‽⁀‽M‽HiHLSED⁆HjDKHdJHXQRQE`HJEPH⁃QPQKHbDXDSQHjJKPQHPDKDJ‼HUSE[QjSQRQE`HPD⁄HUSQKHQSEH※KQaPQKHXQZFQ`HQSEHVTUaDKGFdQK JEPHMJRRDJ[QK‽H‿QSHPQEHCUSEQRQEH‹GEHLDaZSHUQKKRTUFQHSaH>a[DE[HaSFHPQEH⁅‿JaSWJFKD⁆`HaSFHPQEH⁅V7UEQEHPQRH‿GPQER⁆`HjSQHPSQHbDXDSQEHRSTU RQXZRFHEQEEQE`HQSEQHbSRTUJE[HDJRH※JKTUF`HYQKSE[RTUcFdJE[HJEPH:KGFd‽HbK‽H\SE[HjDKHQSEHRWSEPQXP‾KKQKHDXFQKHbDEEHaSFH_DUXQaHVTUcPQX`HPQa ESQaDEPHDERDU`HPD⁄HQKHQSEQEHU7TURFHQSEFKc[XSTUQEH⁇QSRUDEPQXHZQFKSQZ‽H9jQSHRQSEQKHV7UEQH‼JUKQEHDJ‼H_EDFFQKEPQEHkGEPDRH‹GK‽H⁂SEQH⁂E_QXSEHSE _JKdQaH›DFFJE_XQSPHRQK‹SQKFQH⁇QSR`H›KDZZQEHJEPHVJWWQ‽HhDRHYQRWKcTUH_DaHa‾URDaHSEHYDE[‽ >EFQKHYQEQKDXHVJUDKFG`HPQKHDXXQRHDEPQKQHDXRHQSEHaJRXSaSRTUQKH※DEDFS_QKHjDK`HUDZQHRSTUHPDRH9JRDaaQEXQZQEHPQKH⁇DRRQEHPGTUHQKFKc[XSTUQK [QRFDXFQF`H‼KD[FQHSTUHSEHPSQH⁇JEPQ‽HMZQKHSTUHRFSQ⁄HDJ‼HV_QWRSR‽HhD⁄HVJUDKFGHRSTUHSER[QUQSaH‹GEHPKQSH⁅hJ_JE⁆`H‹GEHVTUDaDEQEHJEPHbD[SQKE` ZQKDFQEHXDRRQ`HPSQHRFKQE[[XcJZS[QEHbJRXSaQEHQSEHYKQJQXHRQSQE`HPQJFQHESTUFHDJ‼HNQKR7UEXSTU_QSFHUSE`H[QEDJRGjQES[HjSQHPDRHG‼‼SdSQXXQH※QRFUDXFQE DEHPQKHVFDDFRPG_FKSEH⁅\DETDRSXD⁆`HPSQRQaHjGUX_XSE[QEPQEHYQaSRTUHDJRHRTUjDaaS[QEHhQaG_KDFSQWDKGXQE`H:GXQKDEdQPS_FQEHJEP _GaWKGaS⁄XGRQaH⁀DFSGEDXSRaJR‽ ⁅⁈SKHCUSEQRQEHUDZQEHZQSaH>aRFJKdH‹GEHDFKHHDJ‼H[KDJQEUD‼FQH⁈QSRQHPQEH‿XJFKDJRTUHPQRHSEPGEQRSRTUQEHYDRF‹GX_QR`HPSQH⁈JFHPQKHbDXDSQE` PQEH※DEDFSRaJRHPQKHbJRXSaQHdJHRW‾KQEHZQ_GaaQE‽HNGEHPSQRQaH⁂EFRQFdQEHUDZQEHjSKHJERHXcE[RFHESTUFHQKUGXF⁆`HQK_XcKFQHPQKHcXFQRFQHVGUE‽H⁅⁈DR JERHFKQEEF`HSRFH⁃DHESTUFHEJKHPSQH⁇DRRQHJEPHPSQH›JXFJK‽HbQUKHDXRHDXXQRHDEPQKQH[SZFHPSQH⁇QXS[SGEHPQEHMJRRTUXD[‽HVSQHUDRRQEHJER`HjQSXHjSK VTUjQSEQ‼XQSRTUHQRRQE‽⁆H⁂KHjDKHRGQZQEH‹GEHQSEQKH⁇QSRQHdJHNQKjDEPFQEHSEHbDXD^RSDHdJK‾T_[Q_GaaQE‽HMJTUHPGKFHjDKHQRHDFKFHdJHZXJFS[QE MJRQSEDEPQKRQFdJE[QEH[Q_GaaQE‽HhSQHQFUESRTUQHYQaQE[QXD[QHRQSHDXXQKPSE[RHQSEQH[DEdHDEPQKQ‽HOEHbDXD^RSDHa‾⁄FQHRSTUHPDRHaDXDSSRTUQ VFDDFR‹GX_HPQKH‿JaSWJFKDHaSFHQSEQaHZQDTUFXSTUQEH‿Q‹7X_QKJE[RDEFQSXH‹GEHeHH\KGdQEFHCUSEQRQEHJEPHDTUFH\KGdQEFHOEPQKEHDZ‼SEPQE‽HhSQ NGKRTUKS‼FQEHPQKH_GKDESRTUQEHYQRQFd[QZJE[HPJXPQEHPGKFHDJTUH_QSEQHbSRTUQUQE`H_QSEQHM__JXFJKDFSGEHRQXZRFZQjJ⁄FQKHbSEPQKUQSFQEH‹GE >E[XcJZS[QEHGPQKH⁅›J‼‼DK⁆‽ OaHYQ[QERDFdHdJaH›7ES[KQSTUH:UDSXDEP`HjGHRSTUHSaHVTUDFFQEH‿JPPUDRHQSEQHSEFQERS‹QH‼DaSXScKQHNQKRTUaQXdJE[HdjSRTUQEHPQKHRFDDFRFKD[QEPQE ⁀DFSGEHPQKH:UDSHJEPHPQKHaDRRS‹QEH\KcRQEdHTUSEQRSRTUQKHOaaS[KDEFQEHZSRHUSEDJ‼HSEHPSQH_7ES[XSTUQHh^EDRFSQH‹GXXdG[QEHUDFFQ`HZXQSZQHPSQ hSRFDEdSQKJE[HdjSRTUQEHPQEHQFUESRTUQEH※KGEFQEHOEPGEQRSQERHjQSFQKUSEHJEQKZSFFXSTU‽HhQKHDXFQHbK‽H\SE[HRQFdFQHQSEH‼KQJPXGRQRHYKSERQEHDJ‼‽ ⁅NQK[QRRQEHVSQHJERQKQH›XD[QE⁆`HjDK‼HQKHQSE‽H⁅\GXSFS_HSEHOEPGEQRSQEHSRFHSaaQKHVTUDFFQEFUQDFQK`HJEPHPDUSEFQKHRSFdFHRFQFRHSK[QEPQSEHJEZQ_DEEFQK` JERSTUFZDKQKHMhDXDE[`HQSEHhKDUFdSQUQK`HQSEH\JWWQERWSQXQK‽HkG‼‼QEFXSTUHFKc[FHQKHPQaEcTURFHESTUFHPDRHjQS⁄QHYQjDEPHPQRHaGUDaaQPDESRTUQE >RFDd‽⁆ hQKHjGUX[QEcUKFQ`H⁃G‹SDXQHhK‽H※DjdS`HPQKHaSKHSaH⁇QRFDJKDEFH8DKDHh⁃GE[KDE[H‹GEHLD_DKFDHQFjDHPKQS⁄S[HLDUKQHEDTUHPSQRQKHVFSWW‹SRSFQHSEHLDaZS
[Q[QE‾ZQKRSFdF`HSRFHQSEH[DEdHDEPQKQKH:^WJRHDXRHPQKHaQXDETUGXSRTUQH⁇QSRUcEPXQKH\SE[‽HVQSFHPQEH⁂KXDRRQEHPQRHLDUKQRHefffHjDKHPQEHCUSEQRQE OEPGEQRSQERHQSEQHGZQK‼XcTUXSTUQHYXQSTUZQKQTUFS[JE[HdJ[QRFDEPQEHjGKPQE‽HNSQXXQSTUFHRWSQXFQHPDZQSHDJTUHPQKH>aRFDEPHQSEQH⁇GXXQ`HPD⁄HSEHPQK 9jSRTUQEdQSFHPSQHNGX_RKQWJZXS_HCUSEDHdJaH⁇DE[HQSEQKH⁈QXFaDTUFHDJ‼[QRFSQ[QEHjDKHJEPHSaH‿Q[KS‼‼HRFDEP`HPSQH_GaaQKdSQXXQHVWSFdQERFQXXJE[ LDWDERHjSQHDJTUHPSQHRFKDFQ[SRTUQHMXXaDTUFHPQKH>VMHSaH[DEdQEHGRFDRSDFSRTUQEH⁇DJaHdJHQKRTU‾FFQKE`H⁃DHDZdJX7RQE‽ OEHRQSEQKH⁂S[QERTUD‼FHDXRHhGdQEFHDEHQSEQKHFQTUESRTUQEHkGTURTUJXQHPQKHkDJWFRFDPFHRFQXXFHPQKH›GE‹QKFSFH※DjdSHaSFHZ7RQEHMUEJE[QEH‼QRF`HPD⁄ PQKHZSRXDE[HSEHPQEHQKQKZFQEHVJ‼S⁁‿KcJTUQEHJEPHSEH[QUQSaQaHUSEPJSRFSRTUQaH⁂KZ[JFHQKRFDKKFQHORXDaHOEPGEQRSQERH[QKDPQHZQSHPQEH⁃JE[QEH⁂XSFQE PJKTUHPSQH⁂KEQJQKJE[RZQjQ[JE[QEHPQKHVDXD‼S^DHQK‼D⁄FHjSKP‽HhDRHD_FS‹QH⁂SEFKQFQEHPQKHKQXS[S7RQEH※JEPDaQEFDXSRFQEH‼‾KHRGdSDXQH※‾KRGK[QHJEP YQKQTUFS[_QSFHP‾K‼FQHiHcUEXSTUHjSQHSaHbD[UKQZ`HSaHDKDZSRTUQEH⁉KSQEF`HSEHPQKH[QRDaFQEH>aaDHiHDJ‼HhDJQKHZQSHPQEHPDKZQEPQEHbDRRQEHPQE WGXSFSRTUQEHMJRRTUXD[H[QZQE‽ 9jDKH[QUQHPSQH\GXSdQSHPQRH\KcRSPQEFQEH]JPUG^GEGHKS[GKGRH[Q[QEHPSQHNQKRTUj7KQKHPQKHSXXQ[DXQEH⁅ORXDaSRTUQEHNQKFQSPS[JE[R‼KGEF⁆H‹GK`HDZQK SaH8DJ‼QHPQRHQEPXGRQEH\KGdQRRQRH[Q[QEHPSQH‿GaZQEXQ[QKH‹GEH‿DXSHjJKPQEHPSQHVSTUQKUQSFRPSQERFQHPJKTUHPSQH⁂K_QEEFESRHDJ‼[QRTUKQT_F`HPD⁄ GWQKDFS‹QH9QXXQEHPSQRQKHaDXDSSRTUQEHbJP⁃DUSPSEHRSTUH[KQEd‾ZQK[KQS‼QEPHSEHWDKDaSXSFcKSRTUQEH‿Q‼QUXRdGEQEHGPQKH⁅bDEFSIS⁆HGK[DESRSQKFQE‽HbDEFSIS OHKSTUFQFQHRQSEQHM_FS‹SFcFHDJ‼HVSE[DWJKHJEPHbDXD^RSDHDJRHbDEFSISHOOH_GEdQEFKSQKFQHRQSEQHDJ‼K‾UKQKSRTUQH:cFS[_QSFHDJ‼HPDRHdQEFKDXQHVFDDFR[QZSQF OEPGEQRSQER`HjcUKQEPHbDEFSISHOOOH‹GEHVJXDjQRSHGPQKHCQXQZQRHDJRHDJ‼HPSQHV‾PWUSXSWWSEQEH‾ZQK[KS‼‼`HjGHPQKHMJ‼KJUKH[Q[QEHPSQHTUKSRFXSTUQHJEP WKGDaQKS_DESRTUQH⁇Q[SQKJE[H‹GEHbDESXDHRQSFHLDUKdQUEFQEHDEPDJQKF‽ ⁅⁈QEEHVSQHQSEQHD_FJQXXQHOERdQESQKJE[HPQKHRWDESRTUQEHM⁇QTGEIJSRFD`HPQRHJEQKZSFFXSTUQEHKQXS[S7RQEHNQKPKcE[JE[R_DaW‼QRHdjSRTUQEHORXDaHJEP CUKSRFQEFJa`HSEHGRFDRSDFSRTUQKH⁈SPQKRWSQ[QXJE[HQKXQZQEHjGXXQE⁆`HKcFHaSKH※DjdS`H⁅PDEEHRGXXFQEHVSQHQSEQEHMJR‼XJ[HdJaHVJXJ⁁MKTUSWQXHJEPHdJK OERQXHbSEPDEDGHJEFQKEQUaQE‽HhGKFHRTUXc[FHRSTUHPSQH⁇Q[SQKJE[RDKaQQHPQKH\KcRSPQEFSEHMKKG^GHbDTDWD[DXHSEH⁂KZ‼GX[QHPQKHRWDESRTUQEH›7ES[SE ORDZQXXDHXDHCDFXSTDHaSFHPQaHMJ‼RFDEP`HaSFHPQaHkQSXS[QEH›KSQ[HPQKHbGKG⁁‿Q‼KQSJE[R‼KGEFHJEPHPQKHMZJ⁁VD^D‼⁁‿DEPQHUQKJa‽⁆HhSQRQ ›GE‼XS_FRSFJDFSGEHSRFHaSKHRQSFHXDE[QaH‹QKFKDJF‽HOTUHUDZQHPGKFHQSERFHPSQHaJRXSaSRTUQEH⁇QZQXXQE`HPSQH⁅DJ‼HPQaH⁈Q[QHMXXDUR⁆H_caW‼FQE`HWQKR7EXSTU [QFKG‼‼QE‽
CDEFGHIJKEFG
LMNONLLNPQP RKSHNETSUEHVSTHWDXSUUDE RKSHWDJYSEHVSTHZSYESEH[TFSET WDEKUD\H[TFSYEH]^_` PKYXSEVaGHaKYVHVDTHOSKVSEHCbYKTFKHTGHcDFbSFKTdb\HTGHXYDJSEeGUUHVDYXSTFSUUFHaKSHDJfHVSEHLbKUKccKESE\HVSYSEHgSehUiSYJEXTjSbYbSKFHeGY kDbYbJEVSYFSEH4JjHiDFbGUKTdbSEH5UDJ6SEH6SiSbYFHaJYVS7HRSEH8DYfYSKFDXHVSTHkDbYSTH]^_`HbDFFSHKdbHKEHSKESjH9F:VFdbSEHVSYHcbKUKccKEKTdbSE MDJcFKETSUHOJ4GEHXDE4HDEVSYTHSYUS6FHDUTHjSbYHDUTHVYSK>KXHkDbYSHTc:FSYHKEHVSYHtDeDEKTdbSEH9JUFDETFDVFH9GUG7HRKSHVJYdbaSXHj:EEUKdbSEHg6>SY bDFFSEHTKdbHVKSHRGYESEiYGESEHDJfHVSEH9db:VSUHXSVY6diF\HVD>HKbESEHVDTHgUJFH66SYHVKSH9FKYEHfUG>7HRJF4SEVSHeGEHZUDXSUUDEFSEHXSK>SUFSEHKbYSE 76diSE\H6KTH6YSKFS\HFKSfYGFSH9FYKSjSEHDJfcUDF4FSE7 8EVSYSHbDFFSEHTKdbHxHaDTHaGbUHjSbYH9cD>HjDdbSEHjJ>FSHxHjKFHgUSdbbSUjSEHJEVHODE4SEHDUTHYhjKTdbSHOSXKGE:YSHeSYiUSKVSF7H9KSHcSKFTdbFSE VKSHCbYKTFJTyRDYTFSUUSYHVJYdbHVKSH5DTTSEHJEVHfSTTSUFSEHTKSHTdbUKS>UKdbHDETH8YSJ4\HSbSHTKSHVKSTSH5GUXDFbDy8GcKSEHDJfYKdbFSFSE7HNYXSEVaGHDJf OJ4GEHUKS>HTKdbHtSVSTHkDbYHSKEH9GEVSYUKEXHjKFHP:XSUEHDEHVDTH8YSJ4HTdbUDXSE\HTGHbDFFSHjDEHJETHXSTDXF7HNdbH6SG6DdbFSFSHfDT4KEKSYF\HaKSHVSY 6UJFKXSH76diSEHSKESTHKjH9FDJ6HDJTHXSTFYSdiFSEHtJEXSEHWDEESTHeGEHSKESYHDUFSEHZYDJHKEHcSVDEFKTdbSYH7SXSUj:>KXiSKFHjKFHSKESYH7JFSH6SDY6SKFSF aJYVS7 8JTHJE4:bUKXSEHODJFTcYSdbSYEHVYhbEFSEHCbGY:USHJEVHgJ>UKSVSY\HVGdbHDjHcGcJU:YTFSEHaDYSEHKEHVKSTSYH8DYaGdbSHVKSHXSKTSEHVSTHXYG>SE XSUFSYfGUXSTYHZkSTJTHCbYKTF\H9JcSYTFDY[7HRDTHV6TFSYSH7KFJDUHVSYH8DYaGdbSHSEFfDUFSFSHTKdbHKEHSiTFDFKTdbSYHNE6YJETFH6SKHVSEHcYDdbFeGUUSE LYG4STTKGESE\HVSESEHVKSH9FDFJSEHeSY46diFSY\H6UJF66SYTFYhjFSYHW:YF\YSYHeGYDEXSFYDXSEHaJYVSE\HTFSKXSYFSHTKdbHKEHVSYHE:dbFUKdbSEH9FJEVSHVSY hTFSYUKdbSEH8JfSYTFSbJEXH4JHSKESjHFDJjSUEVSEHYSUKXKhTSEH]YKJjcbDUKTjJT7HRKSHZ9SjDEDH9DEFD[\HVKSHEDdbHVSjH^GY6KUVH9SeKUUDTHjKFH_j46XSE eGEHg6>SYEHXSTFDUFSFHaJYVS\HJEVHVKSH^SYiKFTdbJEXHVSTHQYUhTJEXTj\FbGTHVJYdbHVSEHWSVKSEYJjjSUHMGUU\aGGVTHaDYSEHDJfHVSEHLbKUKccKESEHSKES SKXSEDYFKXS\HTdbGdiKSYSEVSH9\EFbSTSHSKEXSXDEXSE7H86SYHVDTHSEFTcYDdbHKjH5YJEVSHVSYHbKTFGYKTdbSEHQEFaKdiUJEXHVKSTSTHGTFDTKDFKTdbSEH8YdbKcSUT7 9dbGEHDUTH8KEVHbDFFSHjKdbHVKSHXYDEVKGTSHQ`cSVKFKGEHfDT4KEKSYF\HVKSHKEHVSEHCbYGEKiSEHVSTHZ6SVSJFSEVTFSEH9SSfDbYSYTHDUUSYHaSKFSE[\HVST LGYFJXKSTSEHZSYVKEDEVHVSHWDXSUUDE\H66SYUKSfSYFHaKYV7H_EFSYHVSjHPDjSEHZSYEDEVGHVSHWDXDUUDESTHbDFFSHSYHTSKESHZUGFFSHeGEHf6EfH8DYDeSUUSEHKE VSEHRKSETFHVSYHTcDEKTdbSEH8YGESHXSTFSUUF7H8JfHXSKTJEXH8DKTSYH8DYUTH^7HTGUUFSHSYHxHJEFSYH7STcSiFKSYJEXHVSTHc:cTFUKdbSEH9dbKSVTTcYJdbTH4JY 8JfFSKUJEXHVSTH5UG6JTHxHEDdbHSKESjH9SSaSXHTJdbSE\HVSYHxHKjH5SXSETDF4H4JHVSEHOJTKFDEKSYE\HVKSHVKSHjDUDKKTdbSHNETSUaSUFHJEVHKbYSE JESYjS>UKdbSEH7SKdbFJjHDEH5Sa6Y4SEH66SYHVSEHeGEHKbESEH6SbSYYTdbFSEHNEVKTdbSEH[4SDEHSYYSKdbFHbDFFSEHxHVJYdbHQYiJEVJEXHESJSYHLDTTDXSE 4JHSYTdbUKS>SEHa:YS7HPDdbHb6SYIJSYJEXHVSTH8FUDEFKiHJEVH_jTdbKffJEXHVSYH96VTcKF4SH8jSYKiDTHbDFFSHTKdbHf6YHWDXSUUDEHVKSHJESEVUKdbSHXSKFS VSTH9FKUUSEH[4SDETHDJfXSFDE7H9GHSYYSKdbFSHSYHDjH[TFYDEVH8TKSETHVKSHLbKUKccKESE\HVKSHVSjHTcDEKTdbybD6T6JYXKTdbSEHXSUFYSKdbHSKEXSXUKSVSYF aSYVSEHTGUUFSE7 ^KSUUSKdbFHaJYVSHjSKESHgSaJEVSYJEXHf6YHVKSHCGEIJKTFDVGYSEH4JT:F4UKdbHVJYdbHVDTHSYTFSHfYDE4hTKTdbSH5SVKdbFHDEKjKSYF\HVDTHKdbHKEHjSKESj OKFSYDFJYJEFSYYKdbFHUSYEFS7HRDTHLGSjHeGEHkGTcyWDYdDHVSHMSYSVKDHUKS>HVKSHXYDJTDjSH7GjDEFKiHVKSTSYH86SEFSJYSYHDEiUKEXSE\HVKSHxHZKeYSTHVeJE YfeSHbcYGKIJSHSFH6YJFDUHxHFYJEiSEHeGEHSKESjHbSYGKTdbSEHJEVH6YJFDUSEH]YDJj[HZESJSH5STFKYESHDJTHJE6SiDEEFSEHWSSYSEHDJfTFSKXSEHTDbSE[7 g 8jHQEVSHVSYHSEVUGTSEH7SKTSHVJYdbHVSEHLD4KfKi\HVSEHWDXSUUDEHDUTHSYTFSYHXSK>SYHVJYdbTdbKffFS\HaJYVSHSYHDJfHVSYHLbKUKccKESEKETSUHCS6JHeGEHVSE QKEXS6GYSESEHSYTdbUDXSE7H86SYHTSKESHiUSKESHZUGFFSHTGUUFSHDUTHSYTFSHVKSH_jYJEVJEXHVSTHQYV6DUUTHeGUU6YKEXSE7HPJYHSKESHVSYHf6EfH8DYDeSUUSE SYYSKdbFSHEDdbHJEXSbSJYSEH9FYDcD4SE\HD6SYHjKFH5Sa6Y4SEH66SYfYDdbFSF\HKbYSEHK6SYKTdbSEHMSKjDFbDfSE7HRKSH9dbKffT6STDF4JEXHbDFFSHDUT eSYaSXSESH^GYU:JfSYHVSYHZ5UG6DUKTKSYJEX[HVKSH7GJFSHeGYXSXS6SE7 PDdbHVSEHZU:dbSE6Gj6DYVSjSEFTHVSYH_9H8KYHZGYdSHKjHaaSKFSEHXSUFiYKSXHeSY6UKS6SEHVSYHMDJcFTFDVFHWDEKUD\HVKSHeKSYbJEVSYFHkDbYSHUDEXHVSY TcDEKTdbSEH8YGESHJEFSYTFDEVSEHbDFFS\HEJYHEGdbHXSYKEXSH9cJYSEHVKSTSYHiGUGEKDUSEHLY:TSE47HNjH8YKSXHXSXSEHWDVYKV\HVSEHVSYH_9yLY:TKVSEF ]bSGVGYSH7GGTSeSUFHJjH]^hhHeGjHaDJEH6YDdbHJEVHVSYHVSYH8DYK6KiKETSUH8J6DHSKESHYSUDFKeSH_ED6b:EXKXiSKFHeSYTdbDffFS\HbDFFSEHDJdbHVKS LbKUKccKESEHVSEHgSTKF4SYHXSaSdbTSUF7H9KSHaJYVSEHVSYHDjSYKiDEKTdbSEH^SYaDUFJEXHJEFSYTFSUUF7 _EjKFFSU6DYHEDdbHVSjH8YKSXTSKEFYKFFHkDcDETHKjHRS4Sj6SYH]^i]HbDFFSEHVKSH9GUVDFSEHVSTH]SEEGHVKSHNETSUXYJccSHKjHMDEVTFYSKdbHSYG6SYF7H9KS XSa:bYFSEHKbYHSKESHfKiFKeSH_ED6b:EXKXiSKF\HVKSHEDdbHVSYH8DcKFJUDFKGEHPKccGETHVJYdbHXDTbKEXFGEH6STF:FKXFHaJYVS7HRDTH9dbKdiTDUHVSYHLbKUKccKESE JEFSYTdbSKVSFHTKdbHDJff:UUKXHJEVHfJEVDjSEFDUHeGEHVSjHVSYHDEVSYSEH9FDDFSEH96VGTFDTKSET\HVKSHDJfHVSEH]Y6jjSYEHSbSjDUKXSYHSJYGc:KTdbSY gSTKF4JEXSEHKbYSHEDFKGEDUSHQKXSETFDDFUKdbiSKFHeSYaKYiUKdbFSE7 8jHVSJFUKdbTFSEHGffSE6DYFSHTKdbHjKYHVKSTSH9GEVSYTFSUUJEX\HDUTHKdbHiJY4HeGYHVSYH9SjDEDH9DEFDH]^_`HVKSHXYG>S\HT6VUKdbHXSUSXSESHNETSU WKEVDEDGHDJfTJdbFSHJEVHVGYFHDJfHSKESHDYdbDKTdbHDEjJFSEVSHg6YXSYiYKSXTTKFJDFKGEHTFKS>7H8jHQEVSHSKESYHTFYDFSXKTdbSEHODEV4JEXSHaDYHVSY MDfSEHaDj6GDEXDHeGEHVSEH9cDEKSYEH4JHSKESYHSKEVYJdiTeGUUSEHZSTFJEXHDJTXS6DJFHaGYVSE7HWDXSUUDEHaDYHDJfHVSjH^KTD\DyQKUDEVHCS6JHVSj b6SYfDUUHVSTHM:JcFUKEXTHODcJyODcJH4JjH[cfSYHXSfDUUSE7HXSEKXHTc:FSYHUDEVSFSEHVKSH8YKSXTbDJfSEHVSYHTcDEKTdbSEH8YGESHJEVHSFD6UKSYFSEHTKdbHjKF MKUfSHKbYSYH66SYUSXSESEHZSJSYaDffSE7 jbEUKdbHaKSHKEHODFSKEDjSYKiDHaJYVSEHVKSHQKEXS6GYSESETF:jjSHeGEHOJ4GEHJEVHVSYH^KTD\DT\HVKSHEGdbHKbYSEHPDFJYYSUKXKGESEHDEHbKEXSE\ j6bSUGTHJEFSYaGYfSE7HRKSHTcDEKTdbSEHWhEdbSHfDEVSEHbKSYHSKESEHfYJdbF6DYSEHgGVSEHf6YHKbYSHWKTTKGEKSYJEXHJEVHKjcfFSEHVSYH66SYaKSXSEV
jDUDKKTdbSEHgSehUiSYJEXHVSEH5UDJ6SEHDEHVKSHYhjKTdbSH8KYdbSHTGHEDdbbDUFKXHSKE\HVD>HVGYFHxHaKSHKEHVSYH9SjDEDH9DEFDHeGEHOJ4GEHTKdbF6DYHaJYVS xHSKESHS`DUFKSYFS\HEDKeSHZYhjjKXiSKFHDJfiDj\HVKSHVSjHSbSjDUKXSEHK6SYKTdbSEHWJFFSYUDEVHU:EXTFHD6bDEVSEHXSiGjjSEHKTF7 8JfHWKEVDEDGHbKEXSXSEHJEVHVSEHT6VUKdbHDEXYSE4SEVSEHNETSUEHxHVSjH9JUJy8YdbKcSUH4JjDUHxHTFKS>SEHVKSHQYG6SYSYHDJfHbDYFE:diKXSE XKVSYTFDEV\HVSYHTKdbHKbYSjH^GYVYKEXSEH66SYHkDbYbJEVSYFSHbKEaSXHSYfGUXYSKdbHSYaSbYFS7H9KSHcYDUUFSEHDJfHfDEDFKTdbS\HYSUKXKhTHjGFKeKSYFS 5SXESY\HVKSHTKdbHJEFSYHVSjHQKEfUJ>HDYD6KTdbSYHLYSVKXSYH4JjHNTUDjH6SiSbYFHbDFFSEHJEVHVKSHiGYDEKTdbSH^GYTdbYKfFHVSTHLYGcbSFSEHWGbDjjSV jKFHDJfGcfSYEVSYH]GVST6SYSKFTdbDfFHXSXSEHVKSHdbYKTFUKdbSEHQKEVYKEXUKEXSHeSYFSKVKXFSE7 QTHjJ>HDJfHVKSH9SSUSJFSHJEVH9GUVDFSEHVSYH8DFbGUKTdbSEH8hEKXS\HVKSHiJY4H4JeGYHVDTHUSF4FSHKTUDjKTdbSHZ6YTFSEFJjH8EVDUJTKSET\HVKSHZ]DKfD[ eGEH5YDEDVD\HJEFSYaGYfSEHJEVHVKSHdbYKTFUKdbSHZ7SdGEIJKTFD[HVSYHN6SYKTdbSEHMDU6KETSUHSEVUKdbH4JjH86TdbUJ>HXS6YDdbFHbDFFSE\HaKSHSKEH9dbGdi XSaKYiFHbD6SE\HDUTHTKSHDjHDEVSYSEHQEVSHVSYHXSUF\HtSETSKFTHVSYHG4SDEKTdbSEHXSKFSE\HDJfHaSbYbDfFSHKTUDjKTdbSH9JUFDEDFSHTFKS>SE\HVKSHVSEHZYS\ST VSHFDKfDT[H8EVDUJTKSETHXDYHEKdbFHTGHJE:bEUKdbHaDYSE7 RKSHWJTUKjSHaDYSEHDJTH9cDEKSEHeSYFYKS6SEHaGYVSEkHDJfHVSEH96VcbKUKccKESEH6SbDJcFSFSEHTKdbHtSVGdbHVKSH8YKSXSYH8UUDbT\HJEVHVSEHQYG6SYSYE DJTHVSjH86SEVUDEVHfKSUHEKdbFTHgSTTSYSTHSKE\HDUTHVKSTSHWDUDKSE\HVKSHVSjHZ5hF4SE[HWGbDjjSVHbJUVKXFSE\HDUTHZWGYGT[\HWDJYSE\H4JH6S4SKdbESE7 9KSH66SYFYJXSEHVSEHPDjSEHtSESYHDYD6KTdb6SY6SYKTdbSEH^hUiSYTdbDfFSEHPGYVDfYKiDTHDJfHTKS\HVSYSEHYDJbSH7SKFSYTdbDYSEHSKETFHKbYSHMSKjDF JEFSYaGYfSEHJEVHVSjHZRDYyJUyNTUDj[HSKEeSYUSK6FHbDFFSE7 8UTHEDdbH]^hhHVKSHgSDJfFYDXFSEH]bSGVGYSH7GGTSeSUFTHVKSH6STKSXFSEH9cDEKSYHD6UhTFSEHJEVHTKdbHKEHVSYHZGUXSH6Sj6bFSE\HVKSHiDFbGUKTdbSE ZKUKcKEGTHYSdbFHJEVHTdbUSdbFH4JHDjSYKiDEKTKSYSE\HTFKS>HVDTHQ`cSVKFKGETiGYcTHVSYH_98HS6SEfDUUTHDJfHVSEHSY6KFFSYFSEHLDYFKTDESEiDjcfHVSYHWGYGT7 RSYHDjSYKiDEKTdbSHgSfSbUTbD6SY\H5SESYDUHLSYTbKEX\HVSYH]^]_HVDTH_9yNEFSYeSEFKGETbSSYHVSTHQYTFSEHXSUFiYKSXSTHKEHZYDEiYSKdbH6SfSbUKXSEHTGUUFS\ XKEXHjKFH:J>SYTFSYHM:YFSHXSXSEHVKSTSHKTUDjKTdbSEH7S6SUUSEHxHbSJFSHa6YVSHjDEHZ]SYYGYKTFSE[HTDXSEHxHeGY7HQYHaJYVSHVGYFHDUTHZgUDdiHkDdi[ 6SiDEEFHJEVHeSYDETFDUFSFSHSKESHSY6DYjJEXTUGTSH7ScYSTTKGE7H86SYHTSKESHWDYKESTHbGUFSEHTKdbHKjjSYHaKSVSYH6UJFKXSH8hcfSH6SKHVSEHWGYGT7 RKSHZSTFJEXHaDj6GDEXDHbDFFSHDJdbHVSEHDjSYKiDEKTdbSEHgSTDF4JEXTFYJccSEHDUTH8JTXDEXTcJEiFHf6YHKbYSH9FYDfDiFKGESEHJEV _EFSYaSYfJEXT6Sj6bJEXSEHXSVKSEF7H8UTHEDdbHVSjHaaSKFSEHXSUFiYKSXHVKSHSYTFSHbDU6aSXTHJED6b:EXKXSH7SXKSYJEXHVSYHLbKUKccKESEHxHXSTF6F4F DJfHVKSHiDFbGUKTdbSHWSbYbSKFHVSTH8YdbKcSUTHJEVHVDTHXGbUaGUUSEHVSYH_98HxHKbYSH8JFGYKF:FHKjH96VSE\H6SKHVSEHWGYGT\HVKSHDUUSEfDUUTHSKEHZ6EfFSUHVSY 5STDjF6SehUiSYJEXHVSYH7ScJ6UKiHDJTjDdbFSE\HVJYdb4JTSF4SEHTJdbFS\HfUDjjFSHVKSHJESYj6VUKdbSH5JSYYKUUDHaKSVSYHDJf7HRSEHPDjSEHZWGYG[ bDFFSEHTKSH66YKXSETH6SYSKFaKUUKXHDi4ScFKSYF7 9SbYH6DUVHGYXDEKTKSYFSEHTKSHTKdbHKEHSKESYHUGdiSYHTFYJiFJYKSYFSEHZWGYGHOK6SYDFKGEHZYGEF[\HVSYHTKdbHTc:FSYHSKESHTFYKiFHYSUKXKhTHGYKSEFKSYFSHZWGYG NTUDjKdHOK6SYDFKGEHZYGEF[H6SKXSTSUUFS7HX:bYSEVHVKSHcYGyDjSYKiDEKTdbSHZVSjGiYDFKTdbS[H7SXKSYJEXHeGEHWDEKUDHKbYSHtJEXSH8YjSSHDJTTdbKdiFS\ JjHVSEHiGjjJEKTFKTdbSEH8JfTFDEVHVSYHZPSaHLSGcUSeTH8Yj\[HxHDJdbHZMJi6DUDbDc[HXSEDEEFHxHJEFSYH8EUSKFJEXHVSTH_9yCGUGESUTHODETVDUSHDJf VSYHMDJcFKETSUHOJ4GEHjKFH6Sa:bYFSEHWSFbGVSEHVSYHZdGJEFSYyKETJYXSEd\[HJEFSYH8GEFYGUUSH4JH6YKEXSE\HaDYHVSYHg6YXSYiYKSXHDJfHWKEVDEDGH4J SKESjHXYDJTDjSEH5SjSF4SUHDJTXSDYFSF7HMKSYHXKEXHSTHEKdbFHxHaKSH6SKHVSEHWDY`KTFSEHKjHdbYKTFUKdbSEHPGYVSEHxHJjHSKESHESJHKjcGYFKSYFSHaSTFUKdbS NVSGUGXKS7HMKSYHaJYVSHVSYHfJEVDjSEFDUSH8GEfUKiFH4aKTdbSEH4aSKHYKeDUKTKSYSEVSEH7SUKXKGESEHDJTXSFYDXSE\HVKSH6SKVSHKjHODJfSHVSYHkDbYbJEVSYFS FKSfSHXJY4SUEHXSTdbUDXSEHbDFFSE7
7DFFSEHJEVHgDYYDdJVDT 8UTHaKYHJjHVKSH[TFSY4SKFH]^_`HKEHaDj6GDEXDHSKEFYDfSE\HUDXHVSYHjDUSYKTdbSHMDfSEHKjHYGFSEHOKdbFHVSYH86SEVTGEES7HMKSYHaDYHVKSH5STdbKdbFS US6SEVKXHXS6UKS6SE7H8JTHVSEHj:dbFKXSEH9FSKEIJDVSYEHVSYHaKFDVSUUSHTcYDdbHaSKFSYbKEHVSYHU:EXTFHeSYiUJEXSESHNjcSYKDUDETcYJdbHVSYHMKTcDEKF:F7 PS6SEHJETSYSjHMGFSU\HVDTHJEjKFFSU6DYHDETHWSSYHXYSE4FS\HTDjjSUFSEHTKdbHTGXSEDEEFSH9SSyaKXSJESYHJEVH6GFSEHJETH6USEVSEVHaSK>S 8GYDUUSE66TdbSHDE7HRKSHXYG>SEH9SXUSYHjKFHVSjHiEDUU6JEFH6SjDUFSEHgJXHaKYiFSEH6DY6DYKTdbHJEVHfYSjV7H8J>SYHSKEHcDDYHDjSYKiDEKTdbSE [ffK4KSYSEHaDYSEHaKYHVKSHSKE4KXSEHDJTU:EVKTdbSEH5:TFS7HWKFHVSEH8SUUESYE\HVKSHODEXJTFSEHTSYeKSYFSE\HiGEEFSEHaKYHJETHKEHfDTFHYSKESjH8DTFKUKDEKTdb eSYTF:EVKXSE7HRDTHaDYHKEHVSEH66YKXSEHcbKUKccKEKTdbSEHLYGeKE4SE\HaGHVDTHjDUDKKTdbSHZ]DXDUGX[HDUTHPDFKGEDUTcYDdbSHXKUF\HTKdbHKEHXKYiUKdbiSKF tSVGdbHVDTH8jSYKiDEKTdbSH66SYDUUHVJYdbXSTSF4FHbDF\HU:EXTFHEKdbFHjSbYHjhXUKdb7 gSKjH86SEVTcD4KSYXDEXHSEFVSdiFSEHaKY\HKEHVKSHbGbSHWDJSYHVSTH8DTFSUUTHSKEXSUDTTSE\HVDTHWJFFSYXGFFST6KUVHVSYHZ^KYXSEHVSUHLKUDYHVS aDYDXG4D[7H9GHEDbHaDYHVKSHMSYYTdbDfFHVSYH8DFbGUKTdbSEH8hEKXSHeGEH9cDEKSEHEGdb7H8UFSHJEVHtJEXSHZYDJSE\HjKFHaSK>SEHGVSYHTdbaDY4SE 9cKF4SEjDEFKUUSEHDJfHVSjH8Gcf\HiEKSFSEHeGYHVSjHWDYKSE6KUVHJEVH46EVSFSEH8SY4SEHDE7HRDTH86SEVXSU:JFHVSYHTdbaSYSEH5UGdiSEHVSYH8DFbSVYDUS eGEHaDj6GDEXDHVYhbEFSHaSKFH66SYHVKSH7SKTfSUVSYHDjH9FDVFYDEV7HQKEHDUFSYHWDEEHiEKSFSHjKFHiYSJ4aSKTSHDJTXSTFYSdiFSEH8YjSEH6SKHVSYHWDVGEED jKFHVSjH8KEV7 kSETSKFTHVSTHLDUjSEbDKETHUSJdbFSFSHVKSH9KU6SYiJccSUHSKESYHWGTdbSS7HRGYFH6SVKSEFSHTKdbHVSYHWJS44KE\HJjHXSXSEHVSEHSY4SESEH9dbaDUUHVSY dbYKTFUKdbSEH5UGdiSEHDE4JiGjjSE\HU:EXTFHSKESTHODJFTcYSdbSYT\HaSEEHSYH4JjH5S6SFHYKSf7HZ8UUDbJHDi6DY[\HiUDEXHVSYH8DjcfTdbYSKHVSTHNTUDj XSXSEHVSEHiDFbGUKTdbSEH]YKJjcbDUKTjJTHDE7HZ8UUDbHKTFHXYh>SYl[\HJEVHVSYH7GJFKESy8ccSUUHXSaDEEHTSKESHDUFSHbSYHDJTfGYVSYEVSHgSVSJFJEX 4JY6di7 XSEKXSH]DXSH4JeGYHbDFFSEHaKYHJEFSYHgSXUSKFTdbJF4HVSYHcbKUKccKEKTdbSEH8YjSSHVKSH8Djcf4GESHWKEVDEDGTHKjH_jiYSKTHVSYH9FDVFHCGFD6DFG 6STJdbF7HRSYH8GEfUKiFH4aKTdbSEHWGTUSjTHJEVHCbYKTFSEHaDYH6SYSKFTHKEHVSEHSYTFSEHPDdbiYKSXTtDbYSEHVJYdbHVKSHjDTTKeSHQKEaDEVSYJEXHeGE iDFbGUKTdbSEHZKUKcKEGTHDJTHVSjHDYjSEH^KTD\Dy8YdbKcSUHDJTXSUhTFHaGYVSE7HWKFHTFKUUTdbaSKXSEVSY\HD6SYHDiFKeSYH_EFSYTF6F4JEXHVSY aSEFYDUYSXKSYJEXHKEHWDEKUDHbDFFSEHVKSHPSJTKSVUSYHVJYdbHOKTFHJEVH5SaDUFHVKSHgGVSEYSdbFSHVSYHVGYFHDET:TTKXSEHWJTUKjSHDEHTKdbHXSYKTTSE7 8UTHVKSTSHTKdbH4JYHXSbYHTSF4FSE\HGYXDEKTKSYFSEHVKSHCbYKTFSEH6UJFY6ETFKXS\H6SaDffESFSHgDEVSE\HVKSHDJfHVSEHTFGU4SEHPDjSEHZNUDXDT[\HVDTHbSK>F Z7DFFSE[\HbhYFSE7H9KSHXKEXSEHjKFH:J>SYTFSYH5YDJTDjiSKFHXSXSEHVKSHSKEbSKjKTdbSEHWJTSUjDESEHeGY7HRKSH[bYSEHVSYHXSFhFSFSEH5SXESYHaJYVSE DUTH]YGcb:SEHiGETSYeKSYF7HRKSHWGTUSjTHaKSVSYJjHFDFSEHTKdbHKjH8Djcf6JEVHVSYHZgDYYDdJVDT[\HVSYHZ7DJ6fKTdbS[\H4JTDjjSE7HNjH9FDVFiSYE eGEHCGFD6DFG\HKjH5SaKYYHVSYHXSUU6USdb6DYDdiSEHJEVH9FYGbb6FFSE\HbDFFSEHVKSHgYDEVTFKfFJEXSEHVKSTSTHJESY6KFFUKdbSEHgYJVSYiYKSXSTH6YSKFS\ eSYiGbUFSH9dbESKTSEHbKEFSYUDTTSE7H8JfHVSjHfUDdbSEHODEVHjJ>FSEHVKSHdbYKTFUKdbSEHaJaDEVSYSYHTKdbHeGYHVSEH8ETF6YjSEHVSYHWGYGTHKE XSbYVhYfSYEHeSY6DYYKiDVKSYSE7H9KSHaJYVSEHVJYdbHMJ6TdbYDJ6SYHeSYTGYXF7 RKSHcbKUKccKEKTdbSEH8YjSSyQKEbSKFSEHjDdbFSEHSKESEHTSbYHU:TTKXSEHQKEVYJdi7H5SXSEH86SEVHXYJccKSYFSHTKdbHSKEH]YJccH9GUVDFSEHjDUSYKTdbHJj
SKESEHLDE4SYHJEVH46EVSFSHSKEHODXSYfSJSYHDE7HQKESYHeGEHKbESEHXYKffH4JYH5KFDYYSHJEVHTDEXHSKEHjSUDEdbGUKTdbSTHOKSVHKEHVSYHjDUDKKTdbSEH]DXDUGXy 9cYDdbS7H86SYHVKSHWSUGVKS\HVSYH7b\FbjJT\HaKYiFSHfDTFHDEVDUJTKTdb7HRKSH[ffK4KSYSHbKSUFSEHTKdbHD6TSKFTHeGEHVSYH]YJccS7H9KSHaDYSEHXScY:XFHeGj cY:4KTSEHDjSYKiDEKTdbSEHRYKUU\HD6SYHDJdbHSKEHMDJdbHbKTcDEKTdbSYH5YDEVS44DHbDfFSFSHKbESEHEGdbHDE\HXSjKUVSYFHVJYdbHVKSHjDUDKKTdbSHMSKFSYiSKF7 RKSHjSKTFSEHZKUKcKEGTHDJTHVSjHPGYVSEHFYJXSEH8jJUSFFSHjKFHVSYHkJEXfYDJHWDYKDHJjHVSEHMDUT7H9KSH4SKXFSEHJETHeGUUSYH^SYDdbFJEXHVKS 8GYDETcY6dbS\HVKSHTKSH6SKHVSEHOSKdbSEHVSYHXSfDUUSESEH7S6SUUSEHSEFVSdiFHbDFFSE7HRKSHWGYGTHbDFFSEHTKdbHGffSE6DYHeGEHVKSTSEH9JYSEHjDXKTdbSE 9dbJF4HXSXSEH^SYaJEVJEXSEHJEVH]GVHeSYTcYGdbSE7 RKSTSYH8YdbKcSUHDjH7DEVSHVSYHXSaDUFKXSEHDTKDFKTdbSEHODEVjDTTSHESKXFSHKEHjDEdbSYHgS4KSbJEXHVSjHUDFSKEDjSYKiDEKTdbSEH9J6iGEFKESEFH4J7 RDTHKjcGYFKSYFSHDjSYKiDEKTdbSHRSjGiYDFKSjGVSUUHaDYHTSbYH6DUVHVSjHZCDJVKUUKTjG[HXSaKdbSE\HJEVHVKSHcGUKFKTdbSH[ccGTKFKGEHKEHWDEKUDHiGEEFS EJYHEGdbHDJfHSKEHZLYGEJEdKDjKSEFG[HbGffSE\HJjHSKESEH7SXKjSaSdbTSUH4JHSY4aKEXSE7H9dbUKS>UKdbHbDFFSHVSYHZ8jSYKdDEHaD\HGfHUKfS[\HVSYHjKF CGdDyCGUDHJEVHgDTS6DUUygSXSKTFSYJEXH4JHFYKJjcbKSYSEHTdbKSE\HVKSHcYGF4KXSHW:EESYcGTSHVSTHZWDdbKTjG[HEKdbFHeSYVY:EXSEHihEESE7HMDFFSHEKdbF TGXDYHLY:TKVSEFHWDYdGTHTSKESH8DYYKSYSHDUTHZLKTFGUSYG[H6SXGEESE\HDUTHSYHSKESEHcGUKFKTdbSEH5SXESYHTSKESTH^DFSYTHDEXS6UKdbHDJTHVSjHXSXHY:JjFSm 9c:FSYHbDFHSYHTKdbHKjH86aSbYiDjcfHXSXSEHVKSHkDcDESYHDUTH5JSYYKUUDyZ6bYSYH6Sa:bYF7 RSYHVSJFTdbSEHnffSEFUKdbiSKFHTGUUFSEHVKSTSHfSYESEHXKYYSEHSYTFH4JH[bYSEHiGjjSE\HDUTHKjHkDbYH`hhhHVKSHJEXU6diUKdbSHOSbYSYfDjKUKSHXDUUSYFHDJT 5hFFKEXSEHa:bYSEVHKbYSTHZSYKSEDJfSEFbDUFTHKjHjDUD\TKTdbSEHODEVTFYSKfSEHPGYVygGYESGTHxHXSEDJHXSTDXFHKjH9JUFDEDFH9D6DbHxHeGE SKEbSKjKTdbSEH5DEXTFSYEHDJfHSKESHeGjHRTdbJEXSUH66SYaJdbSYFSHNETSUHVSTH9JUJy8YdbKcSUTHeSYTdbUSccFHaJYVS\HVKSH6SYSKFTH4JjHcbKUKccKEKTdbSE 9FDDFTXS6KSFHXSbhYF7HRKSH5DEXTFSYHJEFSYbKSUFSEHSEXTFSHiGjjSY4KSUUSHJEVHfDjKUK:YSHgKEVJEXSEH4JHKbYSEHjDUDKKTdbSEH8GjcUK4SEHKjH_jiYSKTHeGE 8GFDH8KED6DUJ7HNEHVKSTSEH5Sa:TTSYEH6U6bFSHDJdbHtSVSHZGYjHeGEHXDffSETdbjJXXSUHJEVHLKYDFSYKS7HRKSHgDEVKFSE\HVKSHZYDJHXDUUSYFHKEHbSUUS ^SY4aSKfUJEXHFYKS6SE\HXS6:YVSFSEHTKdbHDUTHjJTUKjKTdbSHXKVSYTFDEVTi:jcfSYHVSYH5YJccSHZ86JH9D\\Df[HJEVHJEFSYjDUFSEHKbYSHRYGbXSTFSEHjKF VSjH7JfHZ8UUDbJHDi6DY[7 RKSHgJEVSTYSXKSYJEXHbDFFSHTKdbHVDjDUTHVSYH^SYjKFFUJEXHVSTHUK6\TdbSEH9FDDFTdbSfTH[6SYTFHoDVbDfKH6SVKSEF\HJjHVKSH5SKTSUEHXSXSEHaDbUJEX SKESTH6SDdbFUKdbSEHOhTSXSUVSTH6SfYSKSEHJEVHYScDFYKKSYSEH4JHihEESE7HQTHTcDEEFSHTKdbHSKEHj\TFSYKhTSYHgGXSEH4aKTdbSEHVKSTSEHgDEVKFSE\HVKSHVSj iYKSXSYKTdbSEH9FDjjHVSYH]DJTGXHDEXSbhYFSEHJEVHKbYSEHYSUKXKhTSEHXKVSYTFDEVHXSXSEHWDEKUDHDUTH^GYaDEVHf6YHKbYSHY:J6SYKTdbSH]:FKXiSKF EJF4FSE\HJEVHVSjHTSEVJEXT6SaJ>FSEHRKiFDFGYHOK6\SET\HVSYHVKSHXSUFHVJYdbHTSKESHeSTFKjSEF:YSEHQ`FYDeDXDE4SEHSYbSKFSYFSHJEVHVJYdbHTSKES ]SYYGYDETdbU:XSH6S:EXTFKXFS7HRDTHTF:EVKXH6STdbaGYSESHgKEVSXUKSVH4aKTdbSEHVSEH5DEGeSEHeGEHkGUGHDjH7DEVSHVSTHLD4KfKiHJEVHVSjHLDYDEGKiSY eGEH]YKcGUKTHDjH96VJfSYHVSTHWKFFSUjSSYTHaDYHVDTHXSjSKETDjSHgSiSEEFEKTH4JjHNTUDj7 9c:FSTFSETHKEHtSESEH]DXSEHbSiFKTdbSYH^SYbDEVUJEXSEHb:FFSEHVKSHRSJFTdbSEH6SjSYiSEHj6TTSE\HVD>HTKdbH4aKTdbSEHVSjHEGYVDfYKiDEKTdbSE WDXbYS6HJEVHVSEHjDUDKKTdbSEH8YdbKcSUSEHKjH:J>SYTFSEH[TFSEHVSTHDTKDFKTdbSEH8GEFKESEFTHSKEHXSaDUFKXSY\HVJYdbXSbSEVSYHODEVX6YFSUHTdbUKS>F\ VSYHeGEH]\pHWKUUKDYVSEH8GYDEXU:J6KXSEH6SaGbEFHKTF7HRSYHZDUUHXDUUSYFHbDFFSHVDTHFSYYGYKTFKTdbSHLGFSEFKDUHDJfXSVSdiF\HVDTHVKSTSYHGY6KFDUSE 5SjSKETDjiSKFHKEESaGbESEHiGEEFS7HNEHXKYiUKdbiSKFH4SKdbESFSHTKdbHKEHVKSTSjH7DJjHSKESHYSUKXKhTSHQYaSdiJEXT6SaSXJEXHD6\HVKSHKE JEFSYTdbKSVUKdbSEHZGYjSEHVSEH8DjcfHXSXSEHVSEHaSTFUKdbSEHNjcSYKDUKTjJTHDJfXSEGjjSEHJEVHTKdbHKEHFJXSEVbDfFSYH_ESY6KFFUKdbiSKFH4JjHkKbDV Y6TFSFS\HaSEEHVKSH_jTF:EVSHVKSTHSYfGYVSYFSE7
Z8UUDbHSYiSEEFHVKSH9SKESE[ 8SbYSEHaKYHEGdbHSKEjDUHEDdbHaDj6GDEXDHKEHVSYH[TFSY4SKFHVSTHkDbYSTH]^_`H4JY6di7HNdbHbDFFSHjKdbH6SKHVSEHZKUjDJfEDbjSEHKEHVSYHVGYFKXSE ZYSKFDXTjGTdbSSHjKFHSKESjHtJEXSE\HTdbj:dbFKXSEHNjDjHEDjSETH8bjSV\HSKESjHZ_TFD4[\HaKSHjDEHbKSYHTDXFS\HDEXSfYSJEVSF7HQYHbDFFSHTKdb 6SYSKFHSYiU:YF\HjKYH6SKHSKESjHQYiJEVJEXTDJTfUJXH4JHVSEHaDbYSE\HVSEHXGFFXSf:UUKXSEH8YKSXSYEHVSYHZWGYGHOK6SYDFKGEHZYGEF[H6SbKUfUKdbH4JHTSKE7H8UT aKSUHbDFFSHSYHVKSHPDdb6DYKETSUHgDTKUDEHDJTXSa:bUF\HVKSHDUTHJE6S4aJEXSESHgDTFKGEHVSYHWJVtDbKVKEHXDUF7H8bjSVHf6bYFSHJETH4JE:dbTFHDJfHVSE jSETdbSEaKjjSUEVSEHWDYiFHeGEHaDj6GDEXD\HaGHaKYHTdbaDY4S\HU:EXUKdbSH8Gcf6SVSdiJEXSEHiDJfFSE\HSKESH8YFHZ9dbKffdbSE[\HaKSHTKSHeGEHVSE jSKTFSEHWJTUKjSEH96VGTFDTKSETHXSFYDXSEHaSYVSE7HRKSTSH]DYEJEXHUhTFSH6SKHJETHSKESHTGUdbSHMSKFSYiSKFHDJT\HVD>HaKYHJETHVSYHVDjKFHeSY6JEVSESE 5SfDbYHXDYHEKdbFH6SaJ>FHaJYVSE7 _ETSYH8Jf6YJdbHeGUU4GXHTKdbHGbESH8JfTSbSE7H8bjSVHTFSJSYFSHDJfH4aSKHGffSESH8JTUSXSY6GGFSH4J\HVSYSEHgSTKF4SYHiEDUU6JEFSHMDEVHF6dbSYH4J ]JY6DESEHXSaJEVSEHbDFFSE7H9KSHTDbSEHJETHTdbaSKXSEVHJEVHSFaDTHjK>6KUUKXSEVH4J\Ha:bYSEVHaKYHVDTH8DjSYDjDFSYKDUHeSYTFDJFSEHJEVHJETSYS 8:ccdbSEH4JYSdbFY6diFSE7HRKSH8J>SE6GYVjGFGYSEHTcYDEXSEHDE\HJEVHDJfHSKESYHTcKSXSUXUDFFSEH9SSHFJdiSYFSEHaKYH4aKTdbSEHcY:dbFKXH6SjDUFSE 9SXUSYEHJEVHVSEHLDFYGJKUUSEy8eKTGTHVSYHcbKUKccKEKTdbSEHWDYKESHVSjHGffSESEHWSSYHSEFXSXSE7HRKSHDUFSHTcDEKTdbSH8GUGEKDUfSTFJEXHeGE aDj6GDEXDHJEVHVKSHLDUjSETKUbGJSFFSHVSYH86TFSHTdbYJjcfFSEHJEVHTdbaS6FSEHSKESHXSKUSHKEHVSYH4KFFSYEVSEH]YGcSEUJfF7HNEHVSYHZSYESH4SKdbESFS TKdbHDUUj:bUKdbHSKESHDEVSYSHNETSU\HVSYHTdbaDY4SH_YaDUVHeGEHgDTKUDEHD67HPDdbHSFaDHVYSKTF6EVKXSYHZDbYFHhffESFSHTKdbHSKESHTDEVKXSHgJdbFHjKF SKESjHLfDbUVGYfHJEVHSKESYHf6YHjDUDKKTdbSH^SYb:UFEKTTSHTFDFFUKdbSEHWGTdbSS7 ZXKYHTKEVHDjHaKSU[\HTDXFSH8bjSV7HLUhF4UKdbHYDEEFSEH6SaDffESFSHW:EESYHjKFHaKUVSjHgUKdiHDJfHJETH4J\HYSVSFSEHXSTFKiJUKSYSEVHDJfHVSEH_TFD4 SKE7HXKYHTc6YFSEHVKSH^SYUSXSEbSKFHJEVHVKSH8EXTF\HVKSHTKdbHVSTH8GYDEUSbYSYTH6Sj:dbFKXFSE7HZNdbHXUDJ6S\HaKYHTKEVHKETHfDUTdbSHRGYfHXSYDFSE[\ YDJEFSHSYHjKYH4J7HZNdbHbDFFSHVGYFHJETSYSH8EiJEfFHDEi6EVKXSEHUDTTSE\HD6SYHVKSTSHW:EESYHaKTTSEHeGEHEKdbFT7[H_ETSYSHgGGFSHbDFFSEHTKdbHKjH9DEV fSTFXSfDbYSE\HJEVHaKYHaDFSFSEHDEHODEV7H^GYHJETHUDXHVDTHRGYfH]J6JYDE\HSKESHVSYHMGdb6JYXSEHVSTHWGYGy8JfTFDEVST\HaKSHJETHSKESHXGdbSH4JeGY SKEHcbKUKccKEKTdbSYHZYSXDFFSEiDcKF:EHU:TTKXHSYiU:YFHbDFFS7 NdbHaKUUHEKdbFHKjHRSFDKUHJETSYSHYSdbFHUSKdbFTKEEKXSHQ`cSVKFKGEHEDdbHgDTKUDEHJEVHVSEH8JfSEFbDUFH6SKHVSEHWGYGTHKjHRGYfH]J6JYDEHTdbKUVSYE7HXKY aDYSEHKEHaSKFHXYh>SYSYH5SfDbYHDUTHa:bYSEVHjSKESYHSKEahdbKXSEH5SfDEXSETdbDfFH6SKjH^KSFdGEX\HVKSHSKEHkDbYHTc:FSYHSYbS6UKdbSTH8JfTSbSE SYYSXFS7HNEFSYSTTDEFHf6YHjKdbHaDYHVKSHZSTFTFSUUJEX\HVD>HaKYHSTH6SKHVKSTSEHLDYFKTDESEHjKFHTSbYHJEFSYTdbKSVUKdbSEHZYDiFKGESEH4JHFJEHbDFFSE7 RDHaDYSEHVKSHfYGjjSEH5YSKTS\HVKSHjSKTFHVKSHLKUXSYfDbYFHEDdbHWSiiDHbKEFSYHTKdbHXS6YDdbFHbDFFSEHJEVHSKEHSYTFDJEUKdbHYSKESTHMGdbDYD6KTdb TcYDdbSE7HRSYSEH9\jcDFbKSHXSaDEEHKdbHYSUDFKeHTdbESUUHVJYdbHVKSH7S4KFDFKGEHeGEHSKEHcDDYH8\DF\HSKEHcDDYH^SYTSEHVSTH8GYDE7H86SYHVDHXD6HSTHDJdb tJEXSHZDEDFKiSY\HVKSHFSKUaSKTSHDEHVSEH_EKeSYTKF:FSEHVSYHNETSUHOJ4GEHjKFHVSjHjDY`KTFKTdbSEH5SVDEiSEXJFHVSYHZPSaHLSGcUSeTH8Yj\[HKE gSY6bYJEXHXSiGjjSEHaDYSE7HZ6YHTKSHXDUFSEHaKYHDUTH9cKGESHVSYHDjSYKiDEKTdbSEHCN87H_TFD4H8bjSVHcDUDeSYFSH4aDYHJESYj6VUKdb\HD6SYHjKY
fU6TFSYFSHSYH4J\HVD>HaKYHJETHKEHOS6SETXSfDbYH6SfDEVSE7 QKESEHaDbYSEH9dbGdiHSjcfDEVHKdb\HDUTHSKEHUDEXbDDYKXSYH_EFSYf6bYSYHjKFH8DUDTdbEKiGaHTKdbHcUhF4UKdbHDJfYKdbFSFSHJEVHKdbHDJfHTSKESjHXY6ESE ]y9bKYFHSKEHXYG>STHMDiSEiYSJ4HjKFHVSYHVSJFTdbSEHNETdbYKfFHZ9KSXHMSKU[HSEFVSdiFS7HRKSTSHJE6SYSdbSE6DYSEHZYSKTdb:YUSYHVJYfFSEHDJfHiSKESEHZDUU SYfDbYSE\HVD>HJETSYHaDdiSYSYH8DjSYDjDEEHkGTTKH8DJfjDEEHeGEH5S6JYFHNTYDSUKHaDYHJEVHTGXDYHKjHSYTFSEH9JS4y8YKSXHeGEH]^qrHjKFHVSY LDE4SYFYJccSHeGEHaDbDUHDJfHVSjH9KEDKHXSi:jcfFHbDFFS7H9SKEHLD>HUDX\H8UUDbHTSKHRDEi\HKjHMGFSU4KjjSYHeGEHaDj6GDEXD\HD6SYHaKSHUSKdbFHa:YSHST\ 66SYHSKESEHWKFFSUTjDEEHVKSH5:TFSUKTFSHSKETSbSEH4JHUDTTSE7 RKSH7SFFJEXHiDjHDjHfGUXSEVSEH]DXHxHEDdbHSKESYHTdba6USEH]YGcSEEDdbF\HVKSHKdbHTdbUDfUGTHeSY6YDdbFSHxHKEH5STFDUFHSKESTHSFaDHVYSK>KXt:bYKXSE ZoDKVySUyDTiDYK[\HVSYHTKdbHDUTH86J6DiYHeGYTFSUUFSHJEVHJETHKjH5SXSETDF4H4JHJETSYSEH6KTbSYKXSEHESYehTSEHgSaDdbSYEHjKFH9SU6TF6SbSYYTdbJEX JEVH7STSYeSHEDdbHVSEH5Y6EVSEHJETSYSYH8EaSTSEbSKFHfYDXFS7HQYHaDYHTdbUDjjeSYiYJTFSFHeGEHVSYHLDFYGJKUUS\HVKSHSYHXSYDVSHJEFSYEGjjSEHbDFFS7 _ETSYHVY:EXSEVSTH8EXS6GF\HjKFHSKESjHcGTKFKeSEHZSYETSb6SYKdbFHVKSHXSUFhffSEFUKdbiSKFHDJfHVSEHbSYGKTdbSEH8DjcfHVSYHWGYGTHXSXSEHKbYS _EFSYVY6diJEXHVJYdbHVKSHiGYYJcFSH7SXKSYJEXHeGEHWDEKUDHDJfjSYiTDjH4JHjDdbSE\HfSXFSHSYHjKFHSKESYHiEDccSEHMDEV6SaSXJEXHaSX7H8UTHKdbHVSE PDjSEHoDVbDfKHSYa:bEFS\HVSTTSEHbSKjUKdbSHXDffSEUKSfSYJEXSEHDEHVKSHcbKUKccKEKTdbSEHWJVtDbKVKEHjKYH6SiDEEFHaDYSE\HYSDXKSYFSH86J6DiYHjKF SKESjHeSY:dbFUKdbSEHO:dbSUE7HRKSHXSUSXSEFUKdbSH_EFSYTF6F4JEX\HVKSHKbEHDJTHVSjHjDUD\TKTdbSEH9JUFDEDFH9D6DbHSYYSKdbFS\HiGjjSEFKSYFSHSYHjKF VSEHXGYFSEYHZ8JTHVSEHaKXDYSFFSEyHJEVHXbKTi\y9dbjJXXUSYEHeGEH9D6DbHTKEVHXDffSEb:EVUSYHXSaGYVSE7[ 8JTXSYSdbESFHkGTTKH66SYYDTdbFSHJETHaSEKXHTc:FSYHjKFHVSYHfYSJVKXSEHPDdbYKdbF\HVD>H86J6DiYH6STdbUGTTSEHbDFFS\HJETH4JHSKESY QYiJEVJEXTfDbYFHDJfHTSKESjHjGYTdbSEH8JFFSYHSKE4JUDVSE\HJEVHVKSHQYUDJ6EKTH4JjHZKUjSEHSYFSKUFHbDFFS7HQKEH6JEFSYHMDJfSEHSYaDYFSFSHJETHDj 9FYDEV7H8JTHVSEHWDEVSUDJXSEHVSYHtJEXSEH8YKSXSYHUSJdbFSFSHXKUVbSKF7HNEHVKSTSYH5SXSEVHaDYSEHLKYDFSYKSHJEVHMSKUKXSYH8YKSXHTSKFHkDbYbJEVSYFSE MDEVHKEHMDEVHXSXDEXSE7 NjcGEKSYSEVHaDYHVKSH6STGEESESH8JFGYKF:F\HVKSHeGEHVSjHoDKVHDJTXKEX7HQYHbDFFSHtSF4FHSKESEHXY6ESEH]JY6DEHJjHVSEH8GcfHXSaJEVSE7H8E VKSTSjHWGYXSEHaSYVSHSYHiSKESEHZSKEViGEFDiFHTJdbSE\HTGEVSYEHaGUUSHJETHSKEH]DJTGXyRGYfHVSYHWGYGTH4SKXSE\HVDTHeGEHVSYHcbKUKccKEKTdbSE 9GUVDFSTiDH66SYfDUUSEHJEVHSKEXS:TdbSYFHaGYVSEHTSK7HRKSHQKEaGbESYHb:FFSEHTKSHjDTTDiYKSYF7 _EFSYHb:JfKXSYHXKSVSYbGUJEXHVSTHZ]Di6KY[\HVSYHVYSKfDdbSEHgSFSJSYJEXHVSYH5Yh>SH5GFFST\HZ8UUDbJHDi6DY[\HbD6SEHaKYHJETSYHaKSUHSYYSKdbFHJEV FDFT:dbUKdbHSKESH[YFTdbDfFHeGYXSfJEVSE\HKEHVSYHEJYHEGdbHSKEKXSHM6bESYHXDdiSYFSE7H8UUSHM:JTSYHJEVHM6FFSEHaDYSEHVSjHQYV6GVSE XUSKdbXSjDdbF7HPDdbHSKESjHZSTFjDbU\HVDTHJETHVJYdbHTdb6dbFSYESHW:VdbSEHjKFHVSjHeGYXSTdbYKS6SESEH8GcfFJdbHTSYeKSYFHaJYVS\HVJYfFSEHaKYHDj PDdbjKFFDXHjKFHSKESjHWGFGY6GGFHEDdbHaDj6GDEXDH4JY6diFJdiSYE7 g gKTH4JjHbSJFKXSEH]DXH6USK6FHjKYHVKSTSYHtJEXSH8GjjDEVSJYHVSTHMSKUKXSEH8YKSXSTHKEHQYKEESYJEX7HQYH6SSKEVYJdiFSHjKdbHVJYdbHTSKES ^SYU:>UKdbiSKF\HTSKESH5DTFfYSJEVTdbDfF\HeGYHDUUSjHD6SYHVJYdbHVKSHJESYTdb6FFSYUKdbSH]GVST6SYSKFTdbDfF\HVKSHKdbHKEHTc:FSYSEHkDbYSEH6SKHVSE WJVtDbKVKEHVSYHZMK46ySyNTUDjK[HKEH8fXbDEKTFDEHGVSYH6SKHVSEHLDTVDYDEHVSTH8\DFGUUDbH8bGjSKEKHKEHVSYSEH86aSbYiYKSXHXSXSEH9DVVDjHMJTTSKE aKSVSYHDEFYSffSEHTGUUFS7HNdbHaSYVSHVKSTSEHW:EESYE\HVKSH6SYSKFHTKEV\HTKdbHDUTHZ9dbJbDVD[\HDUTHW:YF\YSY\H4JHGcfSYE\HEKSjDUTHjSKESEH7STcSiF eSYaSKXSYE7 NjHMGFSUHDEXSUDEXF\HeSYD6TdbKSVSFSEHaKYHJETHeGEH8bjSV\HVSYHTKdbHf6YHTSKESEHNYYFJjH6SKHVSYHODEVJEXHKEH]J6JYDEHSEFTdbJUVKXFS7HZXKYHTFSbSE EGdbHDjH8EfDEXHJETSYSYHgSaSXJEX[\H6SFSJSYFSHSY7HQTHb:FFSEHTKdbHKEHVKSHfYGjjSHgSfYSKJEXT6SaSXJEXHDJdbHSKEHcDDYHJEUKS6TDjS\HVSjHaDbYSE 5UDJ6SEHSEFfYSjVSFSHQUSjSEFSHSKEXSTdbUKdbSE7HZ86SYH8UUDbHSYiSEEFHVKSH9SKESE7HRSYHkKbDVHaKYVHiSKESHLDJTSHiSEESE\HSbSHEKdbFHDJfHJETSYSE NETSUEHVSTH96VSETHSKESHJED6b:EXKXSHNTUDjKTdbSH7ScJ6UKiHXSXY6EVSFHKTF7HRD4JH6YDJdbSEHaKYHiSKESHXGFFUGTSHNVSGUGXKSHJEVHiSKESEHWDY`KTjJT7 86SYHaKYHUDTTSEHJETHDJdbHEKdbFHjSbYHeGEHiGYYJcFSEHRDFJTHJEVHVSEHbSYYTdbT6dbFKXSEH9JUFDESEHX:EXSUE7H9KSHTKEVHDUUSH7ScY:TSEFDEFSEHVSY fSJVDUKTFKTdbSEH^SYXDEXSEbSKFHJEVHTJdbSEH6SYSKFTHjKFHVSEH86XSTDEVFSEHVSTHLY:TKVSEFSEHWDYdGTHEDdbHSKESjH8GjcYGjK>\HJjHKbYSHLYKeKUSXKSE 4JHaDbYSE7HXKYHaSYVSEHSKESEHSXDUKF:YSEHNTUDjHcYSVKXSE7[ RSYHiUSKESH_TFD4HbDFFSHJETHUDEXSHVKSHMDEVHXSTdb6FFSUFHJEVHaDYHSKETDjHDJTHVSjHfYKeGUSEH7DbjSEHVSTHMGFSUTHVDeGEXSXDEXSE\HaGHTKdbHVKS SYTFSEHcbKUKccKEKTdbSEHLDDYSHFYGF4HVSYHfY6bSEH9FJEVSHSEXHJjTdbUJEXSEH4JHkD44jJTKiH6SaSXFSE7HQYHiSbYFSH4JY6diHKEHVDTHMDU6VJEiSUHTSKESY 8GYDETdbJUSHJEVHKEHVKSHcY6VSH5SaK>bSKFHTSKESTH5UDJ6SET7
QKEHfYGjjSTH]D`Ky5KYU ^GEHVSYH]SYYDTTSHDJTH6SG6DdbFSFSEHaKYHSKESEHiUSKESEH8GEeGKHcbKUKccKEKTdbSYH9GUVDFSEHKEH8DjcfjGEFJY7H8UTHTKSHVKSHTdbaDY4SHZSTFJEXTjDJSY jKFHVSjHWDYKSE6KUVHVSYH^KYXSEHVSHaDYDXG4DHcDTTKSYFSE\H6SiYSJ4KXFSEHTKSHTKdb\H6SeGYHTKSHEDdbHPGYVSEHD64aSKXFSE\HaGHVKSHWGYGTHSKESE FhVUKdbSEHMKEFSYbDUFHXSUSXFHbDFFSE7HNEHVSYHOG66\HXSTSUUFSHTKdbHJETHSKEHtJEXSYHWDYKESGffK4KSYH4J7H8UTHKdbHKbjHTDXFS\HVD>HaKYHJETHEDdbHgDTKUDE XSaDXFHbDFFSE\HSYiU:YFSHSYHJETHUDdbSEVHf6YHeSYY6diF7HZkSF4FH6YDJdbSEH9KSHVGdbHaGbUHaSYTFYSJJEXHJEVHXbKTi\[\HjSKEFSHSYHJEVHXSUSKFSFSHjKdb 4JjHPKXbFdUJ6HZPSaH^KEFD[HKjHDUFSEHiDTFKUKTdbSEH9FDVFiSYE7HQYHUKS>HjKdbH6DUVHDUUSKEHJEVHeSYTdbaDEVHjKFHSKESjHVSYHW:VdbSE\HVKSHKEHSKESYH8YF 8IJDYKJjHbKEFSYH5UDTHDJfHZYSKSYHaDYFSFSE7 8JdbHjKYHaJYVSHSKEHb66TdbST\HTc:YUKdbH6SiUSKVSFSTH]D`Ky5KYUH4JXSaKSTSE7HNdbHUJVHTKSH4JjHRYKEiHSKEHJEVHSYaDYFSFSHVDTH66UKdbSH5ScUDccSY7 86SYHDUTHKdbHjSKEH86SEFSJSYHDJfHgDTKUDEH6SKHVSEHWGYGTHiJY4HSYa:bEFS\HaJYVSHTKSHSYETF7H9KSH6SFGEFSHxHFYGF4HKbYSTHT6EVbDfFSEHgSYJfTHxHKbYS iDFbGUKTdbSHZYhjjKXiSKFHJEVHfYDXFSHjKdbHJEeSYjKFFSUFYHZ5UDJ6TFHVJHDEH5GFFm[HPDdbHSKESYHLDJTSHf6XFSHTKSHbKE4JYHZXSK>FHVJ\HVD>HjDEHKE VKSTSjHODEVHGbESH5UDJ6SEHDEH5GFFHEKdbFHUS6SEHiDEEm[H9GHaKSHVDTHcbKUKccKEKTdbSH]D`Ky5KYUH9JEE\HxHTGHEDEEFSHjDEHTKSHKEHVSYHPSaH^KEFDHx\HTG b:FFSHTKdbHkSDEyLDJUH9DYFYSHTSKESHcJFDKEHYSTcSdFJSJTSHxHTSKESHZSbY6DYSHRKYES[HxHXSaK>HEKdbFHeGYXSTFSUUF7 g
8jHfGUXSEVSEHWGYXSEHFYDFSEHaKYHVSEH76difUJXHEDdbHWDEKUDHDE7H8jH8KYcGYFHSjcfKEXHJETHVSYHcbKUKccKEKTdbSHZDbYSYHgSEHJEVHEDbjHjKdbHXUSKdb
6SKTSKFS7HgSEHaDYHU:dbSYUKdbHiUSKEHXSaDdbTSE\HVGdbHVKSH6YSKFSHWSTTSYEDY6SHKEHTSKESjHaKUVSEHjDUDKKTdbSEH5STKdbFHXD6HKbjHSFaDTH^SYaSXSEST7 XKYHbDFFSEHgSEHKjH^SYVDdbF\HVSYHaGbUGYXDEKTKSYFSEH_EFSYaSUFHeGEHWDEKUDHDE4JXSbhYSE\HaDTHjSKEH^SYFYDJSEHKEHKbEHEKdbFHjKEVSYFS7HgSEHbDFFSHx a:bYSEVHSYHDJfHJETHaDYFSFSHxHVKSHPDdbYKdbFSEHXSbhYF7HZ9SKFHXSTFSYEHbD6SEHVKSHPGYVeKSFEDjSTSEHSKESH5YG>GffSETKeSHXSTFDYFSF[\HTDXFSHSY7HZ9KS TGUUSEHVKSHT6VeKSFEDjSTKTdbSEHOKEKSEHTdbGEHVJYdb6YGdbSEHbD6SE7[ ]DFT:dbUKdbHbDFFSH5SESYDUH5KDcHaKSVSYHSKEjDUH66SYYDTdbSEVH4JXSTdbUDXSEHJEVHXSEDJHDEHVSYH9FSUUSHDEXSXYKffSE\HaGHEKSjDEVHVDjKFHYSdbESFS\ DEHVSYHTdbjDUSEHRSjDYiDFKGETUKEKSHU:EXTHVSTH4SbEFSEHgYSKFSEXYDVST7HRKSH96VeKSFEDjSTSE\HVKSHVSEHgGVSEiDjcfHDUUSKEHf6bYSEHjJ>FSE\HTSKFHVKS DjSYKiDEKTdbSHWKUKF:YcY:TSE4HVJYdbHLY:TKVSEFHkGbETGEHDJfHqhHhhhH5NTHYSVJ4KSYFHaGYVSEHaDY\HbDFFSEHKEHVKSTSjHeSYEDdbU:TTKXFSEH9SiFGYHKbYS TdbUSdbFSTFS\HVKSHRYKFFSHNEfDEFSYKSVKeKTKGE\HTFDFKGEKSYF7 8UTHVKSH9FJYjFYJccSEHMDEGKTHTKdbHEDdbHeSYEKdbFSEVSYH8YFKUUSYKSeGY6SYSKFJEXHcUhF4UKdbHjKFH7JVSUEHTGatSFKTdbSYHLDE4SYHeGjH]\cH]q`HJEVH]qi DJfHVKSH9FSUUJEXSEHVSYH96VKTFSEHTF6Y4FSE\HXD6HSTHiSKEHMDUFSEHjSbY7HRKSH_9H8KYHZGYdSHaDYHVJYdbHVKSHEKSVYKXSHXGUiSEVSdiSHKEHKbYSY gGVSEKEFSYeSEFKGEHXSbSjjF7HRKSHDjSYKiDEKTdbSEH8VeKTGYTHUKS>SEHTKdbHjKFHMJ6TdbYDJ6SYEHDJTHVSEHJj4KEXSUFSEH9F6F4cJEiFSEHVSYHWdPDjDYDy OKEKSHYJEVHJjHRGEXHMDHJEVHCDjHOGHDJTfUKSXSE\HaDTHVKSHWGYDUHVSYH9DKXGESYH]YJccSHeGUUSEVTHJEFSYXYJ67H9dbGEHbKS>HST\HVKSHLYGeKE4bDJcFTFDVF oJDEXH]YKHTSKHXSfDUUSE7 aJjHXUSKdbSEHaSKFcJEiFHaDYHSKESHDEVSYSHEGYVeKSFEDjSTKTdbSHLDE4SYiGUGEESHDJTHVSjHiDj6GVTdbDEKTdbSEH5YSE4YDJjHEhYVUKdbHeGEH9DKXGE U:EXTHVSYH9FYD>SH]pHEDdbH96VSEHeGYXScYSTdbFHJEVHbDFFSHVDTHRKTFYKiFTF:VFdbSEHOGdHPKEbHKjHMDEVTFYSKdbHSYG6SYF7HgSKH8EHOGdHbKEXSXSEHaDYSEHVKS KjHgSaSXJEXTiYKSXHJEXS66FSEHPGYVeKSFEDjSTSE\HVKSHKbYSHLDE4SYHGbESHDJTYSKdbSEVSEHKEfDEFSYKTFKTdbSEH9dbJF4HEDdbHeGYEHXSaGYfSEHbDFFSE\ tSVGdbHDJfHVKSHSEFTdbUGTTSESH86aSbYHT6VeKSFEDjSTKTdbSYHZDUUTdbKYjt:XSYHJEVHVSYSEHcDE4SY6YSdbSEVSHXDffSEHXScYDUUF7HaaDE4KXH8KUGjSFSY T6VUKdbHeGEH8EHOGdHiDjHVSYH8EXYKffH4JjH9FSbSE7 8JdbHDjH]_7HgYSKFSEXYDVH6YDdbHVKSHbGffEJEXTeGUUHXSTFDYFSFSH[ffSETKeSHiJY4HVDEDdbHKjHDcGiDU\cFKTdbSEHgGj6SEbDXSUHVSYHDjSYKiDEKTdbSE OJfFaDffSH4JTDjjSE7H^GEHEJEHDEHaJ>FSHtSVSY\HVSYHbhYSEHJEVHTSbSEHiGEEFS\HVD>Hf6YH9DKXGEHVKSH9FJEVSHXSTdbUDXSEHbDFFS7
LYSKTXD6SHVJYdbHVSEHZXYG>SEHgYJVSY[ XDYJjHSYa:bESHKdbH66SYbDJcFHVKSHXSTdbSKFSYFSH8iFKGEHVSYHQY6SEHMGH]TdbKHWKEbTHKjHaJTDjjSEbDEXHjKFHVKSTSYHcbKUKccKEKTdbSEH7SFYGTcSiFKeSm MKSYHU:>FHTKdbHSKESHXSaKTTSHLDYDUUSUSH4KSbSEH4JHVSYH9KFJDFKGEHKjHNYDi\HaKSHTKSHTKdbHbSJFSHcY:TSEFKSYF7HPDdbHVSjHRS6DiSUHVSYH_98\HVDTHKj ZY6btDbYH]^_qHjKFHVSYHTdbj:bUKdbSEHZUJdbFHVSYHUSF4FSEHDjSYKiDEKTdbSEHQUSjSEFSHeGYHVSEHKEH9DKXGEHeGYY6diSEVSEHLDE4SYEHMDEGKTHSEVSFS\ bDFFSEHVKSH_98H4aDYHSKESEHTdbjSY4UKdbSEHLYSTFKXSeSYUJTFHSYUKFFSEHJEVHTDbSEHTKdbHKEFSYESEH]JY6JUSE4SEHjKFHSKESYHWDTTSHeGEH8YKSXTXSXESYE DJTXSTSF4F7H5UG6DUH6SFYDdbFSFHaDYHVKSHXSGTFYDFSXKTdbSHODXSHVSYH^SYSKEKXFSEH9FDDFSEHtSVGdbHEKdbFHFDEXKSYF7HNbYHjKUKF:YKTdbSTHb6SYXSaKdbFHDJdb KjHGTFDTKDFKTdbycD4KfKTdbSEH7DJjHaDYHiSKESTaSXTHXS6YGdbSE7HRKSHRGjKEGy]bSGYKS\HVKSHVYGbSEVSH8JTaSKFJEXHVSTH8GjjJEKTjJTHKEHXDE4 96VDTKSE\HVKSH8SEESV\THNEFSYeSEFKGEHKEH^KSFEDjHjGFKeKSYFHbDFFS\HSYaKSTHTKdbHDUTH]YJXTdbUJ>7 _EVHVSEEGdbHVY:EXFHTKdbHSKESHXSaKTTSHjbEUKdbiSKFH4JHVSYHQEFaKdiUJEXHDJf\HVSYHTKdbHVKSH_9H8Yj\HTGaGbUHKEHWSTGcGFDjKSEHDUTHDJdbHDj MKEVJiJTdbHDJTXSTSF4FHTKSbF7HNjHkDbYH]^_`HaDYSEHE:jUKdbHVKSHXDffSETFKUUTFDEVTeSYbDEVUJEXSEH4aKTdbSEHMSEY\H8KTTKEXSY\HVSjH8J>SEjKEKTFSY LY:TKVSEFHPK`GET\HJEVHVSjHEGYVeKSFEDjSTKTdbSEHgSeGUUj:dbFKXFSEHOSHRJdH]bGHKEHLDYKTHU:EXTFHKEH5DEXHXSiGjjSE7HRSYH9SdYSFDY\HGfH9FDFSHbDFFS EDdbHSEVUGTSjH]DJ4KSbSEHVSjHiGjjJEKTFKTdbSEHLGUKF66YGHeGEHMDEGKH6SYSKFTH4JXSTFDEVSE\HVD>HiSKESHDjSYKiDEKTdbSEHgGVSEFYJccSEHjSbY VSjHDEFKiGjjJEKTFKTdbSEH7SXKjSHeGEH9DKXGEHJEFSYH5SESYDUHPXJ\SEH^DEH]bKSJH4JYH9SKFSHTFSbSEHa6YVSE7HRKSHT6VeKSFEDjSTKTdbSH8YjSS\HVKS aSKFH66SYHSKESHbDU6SHWKUUKGEH9GUVDFSEHDJfXS6GFSEHJEVHS6SETGHeKSUSH6SaDffESFSHWKUK4SEHYSiYJFKSYFHbDFFS\HaDYHDJfHTKdbHTSU6TFHXSTFSUUF7 XDTHVKSHZYDE4GTSEHSKETFHUSHtDJEKTTSjSEF\HVKSHZ5SU6f:Y6JEX[HKbYSTHiYKSXSYKTdbSEHQEXDXSjSEFTHKEHNEVGdbKEDHXSEDEEFHbDFFSE\HaKSVSYbGUFSHTKdb 6SKHVSEH8jSYKiDESYEHEDdbHVSjH9dbGdiHVSYH]SFy[ffSETKeSHVSTH^KSFdGEXH4JHgSXKEEHVSTHkDbYSTH]^rs7HRKeSYTSHRKeKTKGESEHVKSTSYH96VDYjSS SYaKSTSEHTKdbHDJfXYJEVHVSYH4JFKSfTFHDEFKiGjjJEKTFKTdbSEHMDUFJEXHKbYSYH[ffK4KSYSHaSKFH4JeSYU:TTKXSYHJEVHTdbUDXiY:fFKXSYHDUTHVKS cYGDjSYKiDEKTdbSEH8YjSSyHJEVHLGUK4SKiY:fFS\HVKSHXDTbKEXFGEHKEHVSYHVSY4SKFKXSEH76di4JXTcbDTSHKjHNYDiHDJfXSTFSUUFHbDFHJEVHVKSHDJdbHKE 8fXbDEKTFDEHVKSH^SYDEFaGYFJEXHVSTH8DjcfSTHXSXSEHVKSH]DUS6DEH66SYESbjSEHTGUUSE7 RKSHiDUFSH9FDDFTYDKTGE\HVKSH7KdbDYVHPK`GEH6SaGX\HVSEHeSYUJTFYSKdbSEHZSUV4JXHKEH^KSFEDjHTGH6DUVHaKSHjhXUKdbH4JH6SSEVSE\HJEVHVKSHeGEHMSEY\ 8KTTKEXSYHXSEKDUHcYDiFK4KSYFHaJYVS\HUKSfHKjHkDbYH]^_p\HDUTGHSKEHiEDccSTHkDbYHEDdbHVSYHSYa:bEFSEH[TFSYGffSETKeSHMDEGKT\HDJfHSKESE XDffSETFKUUTFDEVHbKEDJT7HQYH6SYDJ6FSHVKSH96VeKSFEDjSTSEHVSYH6KTUDEXHJESEF6SbYUKdbSEH_EFSYTF6F4JEXHVJYdbHVKSHDjSYKiDEKTdbSHOJfFaDffSHJEV UKS>HTGXDYH4J\HVD>HVKSHYSXJU:YSEH9FYSKFiY:fFSHPGYVeKSFEDjT\HVKSHKEH9F:YiSHeGEHSFaDHrhHhhhHWDEEH6SYSKFTHKEHVKSH7ScJ6UKiHeGEH9DKXGE SKEXSVYJEXSEHaDYSE\HTKdbHEKdbFH66SYHVSEH]_7HgYSKFSEXYDVH4JY6di4KSbSEHjJ>FSE7 RDTH8YjKTFKdSy86iGjjSE\HVDTH]^_pHKEHLDYKTHJEFSY4SKdbESFHaJYVSHxHVDTHb:FFSHVDjDUTHtSVSYHaKTTSEHj6TTSEHx\H6SVSJFSFSHVKSHLYSKTXD6SHVST eSY66EVSFSEHLY:TKVSEFSEHPXJ\SEH^DEH]bKSJHKEH9DKXGE7HQTHiDjHVSjH^SYYDFHDEHSKESjH6SDdbFUKdbSEH]SKUHVSYHT6VeKSFEDjSTKTdbSEHgSehUiSYJEX XUSKdb\HVKSHDJfHVSEH9dbJF4HVSYHDUUj:dbFKXSEH_98HXS6DJFHbDFFS7H^GEHEJEHDEHXD6HSTHiSKESHiUDYSHjKUKF:YKTdbSHZYGEFHjSbYHT6VUKdbHVSY RSjDYiDFKGETUKEKS\HTGEVSYEHVDTHTGXSEDEEFSHZOSGcDYVSEfSUU[7 X:bYSEVHMSEY\H8KTTKEXSYHjKFHVSjHZYKSVSETEG6SUcYSKTHDJTXS4SKdbESFHaJYVS\HVSEHTSKEH4:bSYHXKVSYcDYFHOSHRJdH]bGHD6USbEFS\HTdbG6SEHTKdb VKSH^GYDJTSUSjSEFSHVSYHPGYVDYjSSHT\TFSjDFKTdbHEDdbH96VSEHeGY7HRKSH8DjcfbDEVUJEXSEHfUDdiSYFSEHEDdbH^SYaSKXSYJEXHtSVSEHjKUKF:YKTdbSE gSKTFDEVSTHf6YHVKSH7SXKSYJEXHeGEH9DKXGEHKjjSYHbSfFKXSYHDJfH6KTH4JYH6UKF4DYFKXSEH5YG>GffSETKeSHMDEGKTHKjHW:Y4H]^_q\HVKSHDJdbHVKSHUSF4FSE 8:jcfSY\HVKSHaDdiSYSE\H66SYaKSXSEVHiDFbGUKTdbSEHZDUUTdbKYjt:XSYHVSYH96VDYjSS\HbKEaSXfSXFS7 g
RKSH5STdbKdbFS\HTGHbSK>FHST\HaKSVSYbGUFHTKdbHEKdbF7HRDTHKTFHEJYHcDYFKSUUHaDbY7HRKSHaJTF:EVSHDEHQJcbYDFHJEVH]KXYKTHGVSYHDjHMKEVJiJTdbHTKEVHKE jDEdbSYHgS4KSbJEXHXYJEVeSYTdbKSVSEHeGEHVSEH8Y:fFSeSYb:UFEKTTSE\HVKSHKEH^KSFEDjHeGYbSYYTdbFSE7H^GYHDUUSjHVDTHKVSGUGXKTdbSH6S4KSbJEXTaSKTS YSUKXKhTSH_jfSUVHKTFHFGFDUHDEVSYSYHPDFJY7 86SYHDJdbHf6YHVSEHNYDiHbDFFSH6SYSKFTHVSYHZXDYHLYSTKVSEF[H5SGYXS
X7HgJTbHVDTH9KXEDUH4JYHcYGXYSTTKeSEH7:JjJEXHWSTGcGFDjKSETHVJYdbHVKSH_9H8Yj\HXSXS6SE7H_jTFYKFFSEHaDYSEHUSVKXUKdbHVKSH]SYjKES7H9SKESj PDdbfGUXSYHgDYDdiH[6DjDH6USK6FH4JYH9FJEVSHEKdbFTHDEVSYSTH66YKX\HDUTHVSEHeGEHKbjH6STdbUSJEKXFSEH864JXHVSYHDjSYKiDEKTdbSEHgGVSEFYJccSE VJYdbHVKSHfGYdKSYFSH8JfTFSUUJEXHSKEbSKjKTdbSYHRKeKTKGESEHDJf4JaKSXSE\HaDTH6SKHVSYHfGYFVDJSYEVSEHiGEfSTTKGESUUSEH^SYfSKEVJEXH4aKTdbSE 9JEEKFSEHJEVH9dbKKFSEHTGaKSH6SKHVSYH6SYSKFTHeGUU4GXSESEHRSyfDdFGy86TcDUFJEXHNYDiKTdby8JYVKTFDETHSKEHTSbYHfYDXa6YVKXSTH_EFSYESbjSEHKTF7 RSYHDEXSTFDJFSHMD>\HVSYHbKTFGYKTdbHeSYaJY4SUFSH8YXaGbEH4aKTdbSEHVSYH6KTUDEXHVSEHNYDiH6SbSYYTdbSEVSEHTJEEKFKTdbSEHWKEVSYbSKFHJEVHVSY Z9dbKDFH8UK[\HVSYH5SfGUXTdbDfFHVSTHNjDjHMJTTSKE\HVKSHTSKFHVSTTSEHWDYF\YKJjHKEH_EFSYVY6diJEXHeSYbDYYF\HV6YfFSHTKdbHEDdbHVSjH864JXHVSY USF4FSEH5NTHKEHSKESjHjhYVSYKTdbSEHg6YXSYiYKSXHDJTFG6SE7HRDYDEHV6YfFSHVSYH^SY6USK6HeGEHDjSYKiDEKTdbSEH7DFXS6SYEHJEVHNETFYJiFSJYSEHKEHVSY 6SDdbFUKdbSEH9F:YiSHeGEHqhHhhhHWDEEHEKdbFHeKSUH:EVSYE7 RKSHRYSKFSKUJEXHVSYHKYDiKTdbSEH7ScJ6UKiHa6YVSHJEeSYjSKVUKdb\HaSEEHEKdbFHVKSH6SKVSEH9dbJF4j:dbFSHxH8jSYKiDHf6YHVKSH9JEEKFSEHJEVH8JYVSE\ VKSHNTUDjKTdbSH7ScJ6UKiHNYDEHf6YHKbYSHTdbKKFKTdbSEH5UDJ6SET6Y6VSYHxHSKESEHFYDXf:bKXSEHWGVJTHeKeSEVKHfKEVSE7HNEHVKSTSYH9KFJDFKGEH6USK6FHEJYHEGdb VDTH^SYFYDJSEHKEHVKSHaGbUaGUUSEVSHZ6XJEXH8UUDbT7 NEHjDEdbSYHgS4KSbJEXHhffESFHTKdbHxHKdbH6SFGES\HVD>HVKSHPKSVSYTdbYKfFHVKSTSYHaSKUSEHKjHZY6btDbYH`hh^HSYfGUXFHxHKEH8fXbDEKTFDEHSKES eSYXUSKdb6DYSHLSYTcSiFKeS7HRKSHbDU6aSXTHSKETKdbFKXSEH[ffK4KSYSHVSYH8FUDEFKTdbSEH8UUKDE4HTKEVHTKdbHeGUUH6SaJ>F\HVD>HVSYH8YKSXHDjHMKEVJiJTdb EKdbFH4JHXSaKEESEHKTF7H8JdbHVGYFH6SSKUFHjDEHTKdb\HjKFHDjSYKiDEKTdbSjH5SUVHYSiYJFKSYFSHUGiDUSH8YjSSiY:fFSHJEVHSKESH6KTUDEXHS`FYSjHTdbaDdbS LGUK4SKHKEHXYG>SjH_jfDEXHDJf4J6U:bSE7 RKSH8fXbDEKTKSYJEXHVSTH8YKSXSTHKTFHVDTHaSKFbKEHcYGiUDjKSYFSHaKSU\H:bEUKdbHaKSHjDEHKEHgDXVDVHVKSHNYDiKTKSYJEXH6SFYSK6F7HNEH6SKVSEH8GEfUKiFSE ihEEFSHxHKjH5SXSETDF4H4JH^KSFEDjHxHSKEH9dbSKFSYEHVSYH_98HJEVHTSKESYH^SY66EVSFSEHKjjSETSHXSGTFYDFSXKTdbSH_jTdbKdbFJEXSEHJEV ^SYaSYfJEXSEHEDdbHTKdbH4KSbSE7HMKSYHXSbFHSTHJjHVKSHDEXSTFYS6FSH^GYYDEXTFSUUJEXHNYDETHDjHLSYTKTdbSEH5GUfHTGaKSHJjHVKSHVYGbSEVS RSTFD6KUKTKSYJEX\HtDH8EDYdbKS\HVKSHTKdbHLDiKTFDETH6Sj:dbFKXSEHihEEFS\HVSTHSKE4KXSEHKTUDjKTdbSEH9FDDFST\HVSYH6KTUDEXH66SYHVKSH8FGj6Gj6S eSYf6XF7
LY:TKVSEFHkGbETGEHFDE4FHjKFHNjSUVD XSEVSEHaKYHJETHSKEHUSF4FSTHWDUHVSEHLbKUKccKESEH4J7HRSYHXYG>SH8YKSXTYDFHf6YHVSEH9KSXHKEH^KSFEDjHfDEVHKEHWDEKUDHKjHMSY6TFH]^rrHTFDFF\HDUTGHSKE kDbYHEDdbHVSjHjDTTKeSEHDjSYKiDEKTdbSEHQKEXYSKfSE7HLY:TKVSEFHO\EVGEHg7HkGbETGE\HVSYHxHKEH8J>SEcGUKFKiHJEVH9FYDFSXKSHJESYfDbYSEHxHTKdbHDJf VKSHDEXS6UKdbSH9DdbiSEEFEKTHVSYHSEXTFSEHgSYDFSYHVSTHSYjGYVSFSEHkGbEHZ7H8SEESV\\HZFbSH6STFHDEVHFbSH6YKXbFSTF[\HeSYUKS>\HKET4SEKSYFSHSKES eSYfY6bFSH9KSXSTfSKSY7HRDTHZSTFHaKSTHxHjJFDFKTHjJFDEVKTHxHSKESHXSaKTTSH8EDUGXKSH4JHtSESjHTcSiFDiJU:YSEHZUJX4SJXFY:XSYy8JfFYKFFHTSKEST Tc:FSYSEHPDdbfGUXSYTH5SGYXSHX7HgJTbHKjHkDbYH`hhpHDJf\HVDTHJEFSYHVSjHWGFFGHZjKTTKGEHDddGjcUKTbSV[HTFDFFfDEV7 RKSHTcDEKTdbSH8GUGEKDUYSTKVSE4H6GFHVSYHaJTDjjSEiJEfFHSKESEHcYJEieGUUSEH7DbjSE7HPS6SEHVSEHLYSjKSYjKEKTFSYEHeGEH8JTFYDUKSEHJEV PSJTSSUDEVHaDYSEHLY:TKVSEFHLDYiHCbJEXHMSSHDJTH8GYSDHJEVHSKEHFbDKU:EVKTdbSYH5SESYDUHDJTHgDEXiGiHVSjH7JfHVSTHDjSYKiDHEKTdbSEHLY:TKVSEFSE XSfGUXF7HRKSH7ScJ6UKiHeGEH9DKXGEHaDYHVJYdbH7SXKSYJEXTdbSfHPXJ\SEHCDGH8\HJEVHVSTTSEH7KeDUSE\H5SESYDUHPXJ\SEH^DEH]bKSJ\HYScY:TSEFKSYF7 ZSYVKEDEVHWDYdGTHTcKSUFSHjKFHeKSUH5SaDEVFbSKFHJEVHQUSXDE4HVSEH5DTFXS6SY7HRKSHLGUKFKiSYHJEVHWKUKF:YTHbDFFSEHDUUSHVDTHaSK>SHcbKUKccKEKTdbS 9cKF4SEbSjVH66SYHVSYHVJEiUSEHMGTSHDE7HRKSHTdbDFFKXSEH8UUSSEHVSTHLDYiTHeGEHWDUDdDtDEXHaDYSEHeGEHjDEVSU:JXKXSEHW:VdbSEHXST:JjF7H9KS FYJXSEHVKSHTcDEKTdbSH8GUGEKDUFYDdbFHjKFHDEXS6GYSESYH5YD4KS7 RKSHSKXSEFUKdbSH5KcfSUiGEfSYSE4HbDFFSHEKdbFHUDEXSHXSVDJSYF7HMKEFSYHeSYTdbUGTTSESEH]6YSEHbDFFSHO\EVGEHg7HkGbETGEHTSKESEH8UUKKSYFSE jKFXSFSKUF\HVD>H8jSYKiDHTSKESH8YKSXTDETFYSEXJEXHKEH^KSFEDjH6KTH4JjHQEVSYfGUXHTFSKXSYEHaSYVS\HVD>HVKSH5NTHKEHaJiJEfFHVKSH[ffSETKeGcSYDFKGESE KEHSKXSESH7SXKSHE:bjSE7HRSEH96VeKSFEDjSTSEHa6YVSEHUSVKXUKdbH^SYFSKVKXJEXTDJfXD6SEH4JfDUUSE7HRSYH^GYTdbUDXHVSTHZUKSXSYXSESYDUTHPXJ\SE CDGH8\\HVSEHODEViYKSXHEDdbHPGYVeKSFEDj\HKEHVKSHMGdb6JYXHVSTHZSKEVST\H4JHFYDXSE\HaJYVSHeGjH]KTdbHXSfSXF7HRDTH7KTKiGHSKESYHdbKESTKTdbSE ZZYSKaKUUKXSE[yNEFSYeSEFKGEHEDdbHiGYSDEKTdbSjHWJTFSYHaDYH4JHXYG>7H8EXSTKdbFTHVSYHQEFTdbUGTTSEbSKFHVSTH_9yLY:TKVSEFSEHJEVHTSKEST XSaDUFKXSEHQKETDF4STHcYGcbS4SKFSHVKSHXSUFcYSTTS\HVKSHKEH9dbDYSEHEDdbHWDEKUDHXSTFYhjFHaDY\HVD>HVKSH]DXSHVSTH^KSFdGEXHEJEjSbYHXS4:bUFHTSKSE7 RDTH]YSffSEHeGEHWDEKUDHSEVSFSHjKFHSKESjHJEXS4aJEXSESEHgDEiSFF7H_jHkGbETGEHJEVHWDYdGTHXYJccKSYFHTD>SEHVKSHGffK4KSUUSEH]SKUESbjSYHDE SKESYHUDEXSEH]DfSU7HRSYHfSTFUKdbSH7DJjHjKFHVSEHTdbaSYSEHTcDEKTdbSEHWh6SUEHaJYVSHeGEHZDdiSUEHSYUSJdbFSF7HQKEH[YdbSTFSYHjJTK4KSYFS7HRSY DjSYKiDEKTdbSHLY:TKVSEFHbDFFSHVSjH8UiGbGUHiY:fFKXH4JXSTcYGdbSE7HXSEEHSYHTSKEH5UDTH4JjH]GDTFHSYbG6\HSYVY6diFSHTSKESHj:dbFKXS CGa6G\XSTFDUFHVKSHDTKDFKTdbSEHLDYFESY7HkGbETGEHbDFFSHTKdbHMDUTH66SYH8GcfHKEHVDTH^KSFEDjy86SEFSJSYHXSTF6Y4F\HcGiSYFSHjKFHVSYHXSUFjDdbFYGUUS VSYH_98HJEVHTSF4FSHVD6SKHTSKESHcGUKFKTdbSH8DYYKSYSHDJfTH9cKSU7 NdbHTDbHjKYHDEHVKSTSjH86SEVHVKSHW:EESYHJEVHZYDJSEHDjH]KTdbHVSYHLYGjKESEFSEHTGYXf:UFKXHDE7HRKSH_Ya6dbTKXiSKFHkGbETGETHaKYiFS JEXSTF6jHJEVHT\jcDFbKTdbHDEHVKSTSjHiGTjGcGUKFKTdbSEHQEVSHVSYHXSUF\HaGH8TKSEHTKdbHjKFHVSYHMKTcDEKF:FHeSYj:bUFHbDFFS\HSbSHSKEHbDU6ST kDbYbJEVSYFH_9yLY:TSE4HVKSHLbKUKccKESEH4JT:F4UKdbHjKFHVSjHZKYEKTHVSTHZ8jSYKdDEHaD\HGfHUKfS[H66SY4GX7HRSYHLY:TKVSEFHbDFFSHTSKESHZYDJ\HODV\ gKYV\HjKFXS6YDdbF7HWKFHKbYSYHeGYTcYKEXSEVSEHPDTSHJEVHVSjHQUTFSY6UKdiHXUKdbHTKSHFDFT:dbUKdbHSKESjH^GXSU7H86SYHTKSHTFYDbUFSHtSESHDjSYKiDEKTdbS ZYSJEVUKdbiSKFHDJT\HVKSHTGHSEFaDffESEVHKTF7 ^GEHSKESYHXDE4HDEVSYSEH8UDTTSHaDYHVKSH5DTFXS6SYKEHKEHWDUDdDtDEX\HNjSUVDHWDYdGT7H9KSH6SaSXFSHTKdbHaKSHSKESH8hEKXKEHJEVHaDYH6USEVSEV TdbhE7HRKSHSbSjDUKXSHgSDJF\HoJSSEHVSYHLbKUKccKESEHbDFFSHjKFHVSEHkDbYSEHSFaDTHZ6UUSHDEXSTSF4F\HaDTHKbYHD6SYHXJFHTFDEV7HWDEHTDXFSHKbYHXYG>SE QKEfUJ>HDJfHKbYSEHWDEEHEDdb7HRKSH[ccGTKFKGETcYSTTSHeGEHWDEKUD\HVKSHVDjDUTHEGdbHTSbYHDXXYSTTKeHaDY\HjDdbFSHTKSHVDf6YHeSYDEFaGYFUKdb\HVD>HVDT ^SYjhXSEHVSTHWDYdGTyCUDETHKETH_ESYjS>UKdbSHXSTFKSXSEHTSK7HXKSHTGHeKSUSH8TKDFKEESEHKEHf6bYSEVSYHLGTKFKGEH6STD>HTKSHLSYThEUKdbiSKF\HNEFSUUKXSE4 JEVHTF:bUSYESHQESYXKS7HRKSTSHbSYYTdbDfFUKdbSHZYDJH6YDdbFSHSTHVJYdbHKbYSHEDF6YUKdbSHQUSXDE4HJEVHVJYdbHKbYH8JfFYSFSEH4JTFDEVS\HVD>HVSYHLY:TKVSEF VSYH^SYSKEKXFSEH9FDDFSEHeGEH8jSYKiDHaKSHKbYH^DTDUUHSYTdbKSE7HaSbEHkDbYSHTc:FSYHSYUDXHTGXDYHVSYHXYSKTSHWDGHaSVGEXHKbYSjHCbDYjSHJEVHi6>FS 6SKHSKESjHTSKESYHUSF4FSEHhffSEFUKdbSEH8JfFYKFFSHVSYHZKYTFHODV\HVSYHLbKUKccKESEHVKSHMDEV7 LY:TKVSEFHWDYdGTHXD6HSKESHXJFSHZKXJYHD67HWKFHVSEH8jSYKiDESYEHeSYTFDEVHSYHJj4JXSbSE\HTSKFHSYHKjHaaSKFSEHXSUFiYKSXHDEHKbYSYH9SKFSHjKF gYDeGJYHXSfGdbFSEHbDFFS7HWDEHjSYiFSHKbjHDEHVKSTSjH86SEVHEKdbFHDE\HVD>HKbjHVKSHKEESYSH[ccGTKFKGEHKjHLDYUDjSEFHJEVHVKSH9FYD>SEJEYJbSE VSYH9FJVSEFSEH4JHTdbDffSEHjDdbFSE\HXDE4H4JHTdbaSKXSEHeGEHVSEHeSYTcYSEXFSEH]YJccTHVSYHZPSaHLSGcUSeTH8Yj\[\HVKSHKEHVSEHgSYXSEHVSYHNETSU
OJ4GEHDJTbDYYFSEHJEVHKbYSHQjKTT:YSHESJSYVKEXTHKEHVSEH6YGVSUEVSEHjJTSUjDEKTdbSEH96VSEHVSTH8YdbKcSUTHSEFTDEVFSE7 RKSH7SXKSYJEXTdbSfTHeGEH8JTFYDUKSEHJEVHPSJTSSUDEVHaKYiFSEHaKSHbGbSHgSDjFSHDJTHVSjH9FD6HVSTHLY:TKVSEFSEHVSYH_987HLYSjKSYjKEKTFSYHMGUF eGEH8JTFYDUKSEHbDFFSHJEFSYHVSYHXKYiJEXHeGEHMKF4SHJEVH8UiGbGUHSKESEHiEDUUYGFSEH8GcfH6SiGjjSE\HVSYHjKFHVSYHSUfSE6SKESYESEHgU:TTSHVSYH8TKDFSE iGEFYDTFKSYFS7H8UTHVDTH[YdbSTFSYHSKESEH9UGaHTcKSUFS\HSYhffESFSHkGbETGEHjKFHNjSUVDHWDYdGTHVSEH]DE47HQYHVY6diFSHTKSHSEXHDEHTKdbHJEVHbDFFSHW6bS\ VDTH5USKdbXSaKdbFH4JHbDUFSE7HPXJ\SEHCDGH8\\HVSYHb6SYXDEXTcY:TKVSEFHeGEH96VeKSFEDj\HfGYVSYFSHODV\HgKYVHDJf7HRSYHDEXS6UKdbSHLUD\6G\H8\HaDY KEHDTKDFKTdbSEH8JXSEHiSKESH7STcSiFTcSYTGE7H9SKESHDjSYKiDEKTdbSEH5hEESYHbGffFSEHeSYXS6UKdbHDJfHcGUKFKTdbSHLYGfKUKSYJEXHJEVHNEKFKDFKeS7 8jH:J>SYTFSEHQEVSHVSYH]DfSUHTD>HSKESHYSXUGTSHZKXJYHDJTHgYGE4S\HLY:TKVSEFHLDYiHCbJEXHMSSHeGEH96ViGYSD7H8EXSTKdbFTHVSYHDUiGbGUKTdbSE 8JTXSUDTTSEbSKF\HVSYHDjSYKiDEKTdbyDJTFYDUKTdbSEH8JjcDESKHJEVHKbYSYHUDJFSEH5STSUUKXiSKFHbDFFSHLDYiHTKdbHD6XSiDcTSUFHJEVHFYJXHJEeSY6U6jFHTSKES WK>UDJES\HTSKESH5SYKEXTdb:F4JEXH4JYH9dbDJ7HQYHFDE4FSHEKdbFHJEVHY6bYFSHVDTHQTTSEHiDJjHDE7HRKSHgDdiSEiEGdbSEHTSKESTHbDYFSEH9GUVDFSETdb:VSUT FYDFSEHTFDYiHbSYeGY\HVKSH9dbUKF4SHaDYSEHfDTFHXSTdbUGTTSE7HRKSTSYH9GbEHDYjSYHiGYSDEKTdbSYHgDJSYEHaDYHEDdbHVSjHLJFTdbHeGEH]^r]HeGEHVSY 5SESYDUTtJEFDHDEHKbYSH9cKF4SH6SYJfSEHaGYVSE\HaSKUHTKSHKbEHDUTH6UDTTSHb6SYXDEXTfKXJYHSKETdb:F4FS7HRDTHaDYHSKEHTdbaSYaKSXSEVSYHNYYFJj\HVSEE jKFHiGEfJ4KDEKTdbSYH8JFGYKF:FHJEVHSKESYHKEHVSYH8YjSSHVSTH]SEEGHDESY4GXSESEH9FYSEXSHbDFFSH5SESYDUHLDYiHDUUSHMS6SUHVSYHWDdbFHKEH9SGJUHDEHTKdb XSYKTTSE7HQYHiGEEFSHSTHTKdbHUSKTFSE\HKEHWDEKUDHaKSHVSYHZTFSKESYESH5DTF[HDJf4JFYSFSE7 aaSKHT6ViGYSDEKTdbSHQUKFSVKeKTKGESEHi:jcfFSEHKjH86TdbEKFFHeGEHoJKHPbGEHKEHaSEFYDUy8EEDj7HXGHVKSH9GUVDFSEHDJTHVSjHZODEVHVSTHTFKUUSE WGYXSET[H4JTdbUJXSE\HVDHaJdbTHiSKEH5YDTHjSbY7HRKSH96ViGYSDESYHaDYSEHKEH^KSFEDjHXSf6YdbFSFHaKSHVKSHMJEESE\HjKFHVSESEHTKSHDEXS6UKdb SEFfSYEFHeSYaDEVFHaDYSE7HRDYDEHXSjSTTSEHaDYSEHVDTHFbDKU:EVKTdbSH8GEFKEXSEFHJEVHVKSHcDDYHcbKUKccKEKTdbSEH9GUVDFSE\HVKSHEDdbH96VeKSFEDj SEFTDEVFHaGYVSEHaDYSE\H[cSYSFFSEiYKSXSY7HRKSHPSJTSSU:EVSYHaDYSEHEJYHT\j6GUKTdbHeSYFYSFSE7HRKSH8JTFYDUKSYHbKEXSXSEH6Sa:bYFSEHTKdbHKj RTdbJEXSUiYKSXHJEVHTGYXFSEHf6YH[YVEJEXHKEHKbYSjH86TdbEKFFH4aKTdbSEHuJDEHOGdHJEVH^JEXH]DJ7 QKEHWKFXUKSVHVSTHLY:TKVSEFSETFD6STH6SJXFSHTKdbH4JHkGbETGEHJEVHFSKUFSHKbjHjKF\HVD>HSKESHYDEVDUKSYSEVSHWSEXSHeGEHMDU6a6dbTKXSEHJEV 9FJVSEFSEHVDTHMGFSUHVSYHDjSYKiDEKTdbSEHRSUSXDFKGEH6SUDXSYSHJEVHKEH9cYSdbdbhYSEHVKSHgSSEVKXJEXHVSTH^KSFEDjiYKSXSTHTGaKSHVKSH7:JjJEXHVSY _9ygDTSEHDJfHVSEHLbKUKccKESEHfGYVSYS7HQTHaDYHaSKFHEDdbHWKFFSYEDdbF7HO\EVGEHg7HkGbETGEHXD6HVDTH9KXEDUH4JjH8Jf6YJdb7HQYHaDYH6STFSYHODJES7 QYHTFKSXHKEHTSKESHXScDE4SYFSHOKjGJTKES7Hb6SYHVKSHODJFTcYSdbSYDEUDXSHUKS>HSYHjKFHTdbaSYSYHaJEXSHKjjSYHaKSVSYHVSEHcbKUKccKEKTdbSEH5YJ> ZWD6JbDK[HKEHVSEHE:dbFUKdbSEHLDYiHeGEHWDUDdDtDEXHVYhbESE7H8JfHVSYH]YSccSHaKEiFSHKbjHNjSUVDHWDYdGTHjKFHJESYXY6EVUKdbSjHO:dbSUEHEDdb7 g PJYH4aSKHiEDccSHkDbYSHaDYSEHTSKFHVSYH8GEfSYSE4HeGEHWDEKUDHeSYXDEXSE7HWDEHfSKSYFSHKjHZS6YJDYH]^rsHVDTHdbKESTKTdbSHPSJtDbYTfSTF\HVDHbGUFS VSYH^KSFdGEX\H4JYHFGFDUSEHb6SYYDTdbJEXHJEVH4JjHQEFTSF4SEH5SESYDUHXSTFjGYSUDEVT\H4JHVSYH6SYSKFTHSYa:bEFSEH5YG>GffSETKeSHDJT\HSYG6SYFSHVKS jSKTFSEHRhYfSYHVSTHWSiGEXyRSUFDTHKjHMDEVTFYSKdb\HFYJXHVKSH5JSYYKUUDH6KTHKEHVSEH9FDVFiSYEHeGEH9DKXGEHJEVHKEHVSEH5DYFSEHVSYHDjSYKiDEKTdbSE gGFTdbDfFHeGY7H5USKdb4SKFKXHSYTF6YjFSEHKjHaSEFYDUD6TdbEKFFHYSXJU:YSHEGYVeKSFEDjSTKTdbSH7SXKjSEFSYHVKSHDUFSHDEEDjKFKTdbSH8DKTSYTFDVFHMJS7H9KS iGEEFSEHeGEHVSEH_9HWDYKESTHEJYHJEFSYHTdbaSYSEH^SYUJTFSEHDJTHVSjHfSTFJEXT:bEUKdbSEHLDUDTFHeSYFYKS6SEHaSYVSE7 RKSH]SFy[ffSETKeSHSEVSFSHjKFHSKESYHf6YdbFSYUKdbSEHPKSVSYUDXSHVSYHiGjjJEKTFKTdbSEHLDYFKTDESE\HVSYSEH8DVSYTFYJiFJYSEHDJTHVSjH_EFSYXYJEV DJfXSFDJdbFHaDYSEHJEVHTKdbHTSU6TFHSEFFDYEFHbDFFSE7HPDdbHQKETDF4HVSYHXKXDEFKTdbSEHDjSYKiDEKTdbSEHb6SYjDdbF\HVSYH8JTUhTdbJEXH4DbUUGTSY [YFTdbDfFSEHVJYdbHVKSH_9H8KYHZGYdSHfDEVHSKESHJESY6KFFUKdbSH7ScYSTTKGEHTFDFF\HVSYHVKSHjSKTFSEHcGUKFKTdbSEH8GjjKTTDYSHVSTH^KSFdGEXH4JjH[cfSY fKSUSE7HZXKYHjJ>FSEHVKSH9FDVFHgSEFYSHeSYEKdbFSE\HJjHTKSH4JHYSFFSE[\HUDJFSFSHVSYH9DF4HVSTH4JTF:EVKXSEHDjSYKiDEKTdbSEH[ffK4KSYT7HRKSTSTHaKFDFHDJT jSKESjHVDjDUKXSEHODXS6SYKdbFHaJYVSHTSKFVSjHbJEVSYFjDUHcUDXKKSYF7 RSEEGdbHaDYHVDTHWDTTDiSYHDEHVSYHZ96VeKSFEDjSTKTdbSEHgSfYSKJEXTfYGEF[\HaKSHVSYH^KSFdGEXHTKdbHGffK4KSUUHEDEEFS\HSKESHcGUKFKTdbSH8DFDTFYGcbS f6YHVKSH8YKSXf6bYJEXHO\EVGEHg7HkGbETGET7H^GEHEJEHDEH66SYEDbjHMDEGKHVDTHVKYSiFSH8GjjDEVG7HRKSHDjSYKiDEKTdbSHnffSEFUKdbiSKF\HeGYHDUUSj VKSH9FJVSEFSE\HVKSHeGYHVSYHQKE6SYJfJEXHTFDEVSE\HSEFVSdiFSE\HVD>HVKSTSYHeSYTc:FSFSH8GUGEKDUSKETDF4HXSXSEHSKESHgDEVSHiGjjJEKTFKTdbSYHaaSYXS KEHSKESEHfDFDUSEH86EJF4JEXTiYKSXHSKEj6EVSFS7HWKFHSKESjH9dbUDXHTdbaDEVHJEFSYHVSjHQKEVYJdiHVSYH8EFKeKSFEDjyLT\dbGTS\HVKSHeGEHVSEH_98 DJdbHDJfHRSJFTdbUDEVH66SYXYKff\HVSYH9KSXSTaKUUS\HJEVHVKSH6KTHVDbKEHKEFDiFSH8YKSXTjGYDUHVSYH_9H8Yj\H6YDdbH4JTDjjSE7 NdbHbD6SHVSEHcUhF4UKdbSEHWSKEJEXTJjTdbaJEXH6SKHTGHeKSUSEHVSJFTdbSEHNEFSUUSiFJSUUSE\HVKSH6KTUDEXHKEHKbYSYHNXEGYDE4HbSjjJEXTUGTHDJfHSKESE TdbESUUSEHXDffSESYfGUXH8jSYKiDTHSKEXSTdbaGYSEHaDYSEHJEVHEJEjSbYHKbYSHg6EVEKTFYSJSHaKSHSKESEHDUFSEHMJFHfGYFaDYfSE\HTFSFTHDUTHTdb:EVUKdbSE [ccGYFJEKTjJTHSjcfJEVSE\H4JjDUHTKSHtSF4FH4JHVSjH5SXYhUSHZMGyMGyMGH]TdbKHWKEb[HVJYdbHVKSH9F:VFSHVSYHgJEVSTYScJ6UKiHJEVHXSTFygSYUKE TF6YjFSE7 aJFKSfTFHSYTdb6FFSYFHaDYHkGbETGEHeGYHVKSH8DjSYDHXSFYSFSEHJEVHFSKUFSHTSKESjH^GUiHjKF\HVD>HSYHf6YHVKSHDETFSbSEVSHESJSHLY:TKVSEFSEaDbUHDUT 8DEVKVDFHEKdbFH4JYH^SYf6XJEXHTFSbS7HRSYHKbjHEDdbfGUXSEVSHCGjjDEVSYyKEyCbKSf\H7KdbDYVHPK`GE\HaDYH7SDUKTFHJEVHa\EKiSY\HiJY4JjHVSYHWDEE\ VSEHVKSH9FJEVSH6YDJdbFS7HWKFHMKUfSHMSEY\H8KTTKEXSYTHeGUU4GXHSYHSKESHbKTFGYKTdbSHQEFTdbSKVJEX\HVKSHU:EXTFHf:UUKX\HD6SYHKEESEcGUKFKTdbHbGdbYKTiDEF aDY7 NjHkDbYH]^_`HSYiDEEFSHSYHVKSH^GUiTYScJ6UKiHCbKEDHDEHJEVHYSKTFSH4JHWDGHaSVGEXHEDdbHLSiKEX7H^GEHEJEHDEHaDYHTSKEHgSTFYS6SEHEJYHEGdb VDYDJfHXSYKdbFSF\HVSEH76di4JXHDJTHVSjHKEVGdbKESTKTdbSEHZoJDXjKYS[\HaKSHRDeKVHMDU6SYTFDjHSTHEDEEFS\HjhXUKdbTFHTdbESUUHDE4JFYSFSE7HRD>HSY JEVHTSKEHiUJXSYH8J>SEjKEKTFSYHVD6SKHVKSH^SYEKdbFJEXH8Dj6GVTdbDTHDETFKfFSFSEHJEVHVKSHT6VeKSFEDjSTKTdbSEH^SY66EVSFSEHEDdbHSEVUGTSE\ KYYSf6bYSEVSEH^SYbDEVUJEXSEHVSEHQY6SEHMGH]TdbKHWKEbTHDETHWSTTSYHUKSfSYFSE\HiGEEFSHSKESjHWDEEHEKdbFTHDEbD6SE\HVSYH4aDYHEDdbHVSj XDFSYXDFSy9iDEVDUHDUTHZghTSaKdbF[HKEHVKSHDjSYKiDEKTdbSH5STdbKdbFTTdbYSK6JEXHSKEXSbSEHTGUUFS\HD6SYHeSYjJFUKdbH4JHVSEHaSEKXSEH7SDUcGUKFKiSYE VSYH_98HKEHVKSTSjHkDbYbJEVSYFH4:bUF7 RKSHDJTTKdbFTUGTSH^SYTFYKdiJEXHKEHSKESEHSEVUGTSE\HeSYUJTFYSKdbSEHRTdbJEXSUiYKSXHbDFFSHSTHPK`GEHSYUDJ6F\HVDTHiGjjJEKTFKTdbSH7SKdbHVSYHWKFFS KEHSKESHDEXSTcDEEFS\HTFSFTHcYSi:YSHLDYFESYTdbDfFHjKFHXDTbKEXFGEHSKE4J6S4KSbSE7H8EXSTKdbFTHVSYH]DFTDdbS\HVD>HSTHVSEHYGFSEHWDEVDYKESEHeGE LSiKEXHEDdbHVSjH]GVHVSTHZ5YG>SEH9FSJSYjDEET[HXSUDEX\HKEHSKESYH9cDEESHeGEHEJYHVYSK>KXHkDbYSEH4JYHiYDfFTFYGF4SEVSE\HV\EDjKTdbSE XSUFjDdbFHDJf4JTFSKXSE\HSYTdbSKEFHKjH76di6UKdiHVDTHDjSYKiDEKTdbSHRS6DiSUHeGEH9DKXGEHS6SEHVGdbHDUTHSKEHWSKUSETFSKEHVSYHjGVSYESE 5STdbKdbFS7
8DYKiDFJYHSKESYHRSjGiYDFKS
RSYH6Sf6YdbFSFSHRGjKEGSffSiFHKTFHEDdbHVSjHJEY6bjUKdbSEH864JXHVSYH_9H8Yj\HDJTHNEVGdbKEDH6SiDEEFUKdbHEKdbFHSKEXSFYSFSE7HXSVSYH]bDKUDEV EGdbHWDUD\TKDHGVSYHgJYjDHaJYVSEHeGEHVSjH]YKJjcbHJEVHVSYHXKSVSYeSYSKEKXJEXH^KSFEDjTHJEFSYHiGjjJEKTFKTdbSjH^GY4SKdbSEHKjHXSYKEXTFSE FDEXKSYFHJEVHTdbGEHXDYHEKdbFHVKSHLbKUKccKESE7HRGYFHTFSUUFSEHVKSHKTGUKSYFSEH8JfTFDEVTbSYVSHVSYHjDY`KTFKTdbHDJTXSUSXFSEHPSaHLSGcUSeTH8Yj\HiSKES ESEESETaSYFSH5SfDbYHf6YHVKSH7SXKSYJEXHeGEHWDEKUDHjSbYHVDY7H86SYHLY:TKVSEFHWDYdGTHJEVHTSKESH66SYaKSXSEVHaSK6UKdbSEHPDdbfGUXSYHKj WDUDdDtDEXyLDUDTFHTDbSEHTKdbHjKFHVSYHTKdbHTFSFKXHeSYTFSKfSEVSEH8JfTFDEVT6SaSXJEXHVSYHWGYGT\HTSKESYHKjH96VSEHUS6SEVSEHODEVTUSJFSHJEVHSKESY T6VGTFDTKDFKTdbSEHZDdSFFSHVSTHMSKUKXSEH8YKSXSTHDJTXSTSF4F7 XDTHbD6SEHVKSHbSJFKXSEHWDUDKSEHeGEHOJ4GEHJEVHWKEVDEDGHjKFHVSEHV6TFSYSEHaJiJEfFT6SFYDdbFJEXSEH4JHFJE\HVSESEHTKdbHSKEH]SKUHVSYHaSK>SE WSETdbbSKFHbKEXK6FmHQTHa:YSHXYGFSTi\HVKSH5JSYYKUUD6Si:jcfJEX\HVKSHVSYHtJEXSEHcbKUKccKEKTdbSEH8YjSSH4JXSfDUUSEHKTFHJEVHVKSHiDJjHKEHVSYHODXS TSKEHV6YfFS\HVSEHKTUDjKTdbSEH8JfYJbYH4aKTdbSEHaDj6GDEXDHJEVHRDeDG\HeGYHDUUSjHD6SYHDJfHVSjH9JUJy8YdbKcSUHKEHVSEH5YKffH4JH6SiGjjSE\HKE SKESHXSjSKETDjSHZYGEFHjKFHKbYSEHfY6bSYSEH8GUGEKDUbSYYSEH4JHcYSTTSE7 RDTHYSUKXKhTSHJEVHcGUKFKTdbSHQY6S\HVDTHTKSHeGjH[i4KVSEFH66SYEGjjSEHbD6SE\HY:JjFHVSEHQKEaGbESYEHVKSTSTHGTFDTKDFKTdbSEHNETSUTFDDFSTHSKES SKE4KXDYFKXS\HKYXSEVaKSHjKFHVSjHXSTFSEHeSYaDEVFSH9GEVSYTFSUUJEXHJEVHgSTFKjjJEXHSKE7HRKSH9cDEKSYHbDFFSEHKEHeKSYbJEVSYFHkDbYSEHSKESE KEFSETKeSEH8JUFJYFYDETfSYHSY4KSUF\HVSYHDJfHVSYHSYfGUXYSKdbSEHCbYKTFKDEKTKSYJEXHVSYHjDUDKKTdbSEH9F:jjSHVSYHMDJcFKETSUHOJ4GEHJEVHVSYH^KTD\DT 6SYJbFS\HaGHVSYHNTUDjHEGdbHEKdbFHZJ>HXSfD>FHbDFFS7HRKSHiDFbGUKTdbSEHZKUKcKEGTHTFSUUSEHbSJFSHVKSHWSbYbSKFHVSYH5STDjF6SehUiSYJEXHVDY7HRKS TcDEKTdbSEH8GUGEKTFSE\HVKSHTKdbHxH:bEUKdbHaKSHKEHODFSKEDjSYKiDHxHODFKfJEVKSEHDESKXESFSE\HaDYSEHEKdbFH4DbUYSKdbHXSEJX\HJjHSKESHTKdbF6DYS SFbEKTdbSH^SYjKTdbJEX\HVKSH9dbDffJEXHSKESYH6YSKFSE\HtDH66SYaKSXSEVSEH9dbKdbFHeGEHWSTFK4SEH4JH4SJXSE\HaKSHVDTH4JjHgSKTcKSUHKEHWS`KiGHVSY ZDUUHaDY7 gSjSYiSETaSYFSYaSKTSHJEFSYTFDEVHVKSTSHfSYESHDTKDFKTdbSHNETSUXYJccSHUDEXSHaSKFHVSYH8JFGYKF:FHVSTHTcDEKTdbSEH^K4SihEKXTHeGEHWS`KiG\HaDY DUUSYVKEXTHjKFHVKSTSYH^SYaDUFJEXT4SEFYDUSHEJYHSKEjDUHKjHkDbYHVJYdbHSKESH5DUSGESHeSY6JEVSE7HRKSHiDFbGUKTdbSH8KYdbSHSFD6UKSYFSHTKdbHbKSYHaKSHKj WJFFSYUDEVHDUTHbhdbTFSHjGYDUKTdbSHNETFDE47HRSEHeSYTdbKSVSESEHWKTTKGETGYVSEHXSUDEXHST\H6SKHVSEHKEH8YjJFHUS6SEVSEHZCDjcSTKEGT[HSKES KE6Y6ETFKXS\HeGEH86SYXUDJ6SEHVJYdbTSF4FSHZYhjjKXiSKFH4JHeSYaJY4SUE7H86SYHVSYHK6SYKTdbSH8USYJTHaDYHVDjDUTHKEHTG4KDUSEHZYDXSEHS6SETG iGETSYeDFKe\HtDHYSDiFKGE:Y\HaKSHVKSHiKYdbUKdbSHMKSYDYdbKS7H9G4KDUDY6SKFHaJYVSHKjH9KEESHVSYHiDYKFDFKeSEH5S6GFSHXSUSKTFSFHJEVHVKSHWKTSYSHVSTH^GUiST DUTHXhFFUKdbSHZ6XJEXHbKEXSEGjjSE\HaDYHVGdbHVKSHQYVSHGbESbKEHSKEHZ]DUHVSYH]Y:ESE[HJEVHVSEH^SYUGdiJEXSEH9DFDETHDJTXSTSF4F7 RKSH8EiJEfFHVSYH_9HWDYKESTHVSTH5SESYDUHLSYTbKEXHJjHVDTHkDbYH]^hhHb:FFSHDUTH9KXEDUHDJfiU:YSYKTdbSYH_jSY4KSbJEXHVKSH8JTYKdbFJEXHVSY ZKUKcKEGTHDJfHtSESHfYSKbSKFUKdbSEHNVSDUSH6SaKYiSEHihEESE\HVKSHVKSH^SYSKEKXFSEH9FDDFSEHXYG>HJEVH6SaJEVSYETaSYFHXSjDdbFHbDFFSE7HQTHXD6HtSVGdb KEHVKSTSjHS`GFKTdbSEH7DJjHEKdbFHVKSHXSYKEXTFSH^GYDJTTSF4JEXHf6YHVKSHQEFfDUFJEXHVSTHV\EDjKTdbSEHJEVHTdbhcfSYKTdbSEH8DcKFDUKTjJT\HVSEHWD` XS6SYHDJfTHSEXTFSHjKFHVSYHdDUeKEKTFKTdbSEHLY:VSTFKEDFKGETUSbYSHVSYHfY6bSEHcJYKFDEKTdbSEHLKUXSYe:FSYHeSY6KEVSF7H^GEHZcJYTJKFHGfHbDccKESTT[HDUT ^SYfDTTJEXTKVSDUHiGEEFSHJEFSYHVSjHkGdbHVSYHESJSE\HSKEbSKjKTdbSEH[UKXDYdbKSHVSYH5YG>XYJEV6STKF4SY\HVSYHZYGTdD[\HaKSHjDEHKEHXSaKTTSE O:EVSYEHODFSKEDjSYKiDTHTDXF\HEKdbFHVKSH7SVSHTSKE7 NEHWDEKUDHSEFTFDEVHEDdbHVSYHLYGiUDjDFKGEHVSYH_ED6b:EXKXiSKFHSKESH8DYKiDFJYHVSTH_9yDjSYKiDEKTdbSEHLY:TKVKDUyHJEVHCGEXYSTTy9\TFSjT7HNE 8YKTSETKFJDFKGESEHXD6HVKSH8YjSSHVSEH8JTTdbUDX7HgSKHVSEHZXYDEVSTHfDjKUUST[HxHKEHLDYFSKSEHXYJccKSYF\HVKSHTKdbHKEHKbYSYHXSTSUUTdbDfFUKdbSE 9J6TFDE4HDUU4JH:bEUKdbHaDYSEHJEVH66SYHVSEHQYbDUFHKbYSYHLYKeKUSXKSEHjKFFSUTHaaDEXHJEVH8GYYJcFKGEHaDdbFSEHxHaDYHjDEHaSKFHSEFfSYEFHeGE KYXSEVSKESjH9\TFSjHVSYHZdbSdiTHDEVH6DUDEdST[7HRKSHTcDEKTdbSH9cYDdbSHaJYVSHSYTFDJEUKdbHTdbESUUHVJYdbHVDTHDjSYKiDEKTdbHXSf:Y6FSHQEXUKTdb eSYVY:EXFHJEVHES6SEHVSjHjDUDKKTdbSEHNVKGjH]DXDUGXH4JYHGffK4KSUUSEH8jFTTcYDdbS7HQKESHTcSiFDiJU:YSHWKjKiY\HfDEVHTFDFF\HD6SYHVKSH8TTKjKUKSYJEX aDYHaGbUHG6SYfU:dbUKdb7 NEHXDTbKEXFGEHbDFFSHjDEHTdbUKS>UKdbH8ETFG>HXSEGjjSEHDjHaKUUi6YUKdbSEH7SXKSYJEXTTFKUHVSTHLY:TKVSEFSEHWDYdGTHJEVHDEHVSY ^SYTdbaSEVJEXTTJdbFHVSYHEKdbFHjSbYHXDE4HTGHTdbhESEHNjSUVD7HRSYH^SYTJdbHUK6SYDUSYHLGUKFKiSYHKEH_98\HDJfHVDTHTFYDffSH7SXKjSEFHVST ZLKTFGUSYG[HSKESHUK6SYDUS\HeGUiTEDbSH9FDDFTf6bYJEXHfGUXSEH4JHUDTTSE\HTdbSKFSYFSHtSVGdb7HCGYD4GEH8IJKEGHxHDUTHgSFTdbaSTFSYH6SU:dbSUFHxHFYDFHDUT LY:TKVSEFKEHDEHVKSH9FSUUSHKbYSTHSYjGYVSFSEH5DFFSE7H86SYHDJdbHTKSHeSYTJdbFSHXDYHEKdbFHSYETFbDfF\HVKSHTiDEVDUhTSHPGFHKbYSYH_EFSYFDESEH4JHUKEVSYE7 NbYSHPDdbfGUXSYKE\HVKSHaKE4KXHXSaDdbTSESH5UGYKDH8YYG\GHWDdDcDXDUHxHVSYHPDjSHeSYSKEFH4aSKHVSYHYSKdbTFSEHUGiDUSEHR\EDTFKSEHxH6SbDJcFSFS KbYSHLGTKFKGEHDEHVSYH9cKF4SHVSTH9FDDFSTHTGXDYHXSXSEHDJfT:TTKXSH5SESYDUS\H6SFYDdbFSFSHVDTH^GUiHUSVKXUKdbHVJYdbHVKSHgYKUUSHSKESYHSYUDbjFSE iDFbGUKTdbSEH7SUKXKGTKF:FHJEVHSKESYHUDJSEHTG4KDUSEHgSeGYjJEVJEX\HVKSHQYKEESYJEXSEHDEHVSEHcGYFJXKSTKTdbSEHRKiFDFGYH9DUD4DYHaSdiFS7H9KSHUSXFS VD6SKHSKESHcGUKFKTdbSHM:YFS\HSKESEHTF:bUSYESEHRJYdbTSF4JEXTaKUUSEHDEHVSEH]DX\HVSEHjDEHVKSTSYH4KSYUKdbSEHLJccSHXDYHEKdbFH4JXSFYDJFHb:FFS7HRKS 7GUUSHVSYHZYDJHKEHVSEHbhdbTFSEH9cb:YSEHGTFDTKDFKTdbSYHLGUKFKiHaKYVHTF:EVKXHJEFSYTdb:F4F7 RSYHbKTFGYKTdbSH9iDEVDUHDJfHVSEHLbKUKccKESEH6STFSbFHVDYKE\HVD>HVKSTSYH9FDDF\HVSYH66SYHfYJdbF6DYSHODEVTdbDfFSEHJEVHiDJjHSYTdbUGTTSES gGVSETdb:F4SHeSYf6XF\HES6SEHgDEXUDVSTdbHJEVHPGYViGYSDHDUTH8YjSEbDJTH[TFDTKSETHXKUF7HRDTHcDTTKSYFHDJTXSYSdbESFHSKESjH^GUi\HVDTHVSY D6SEVU:EVKTdbSEHMSKUTUSbYSHVSTHCbYKTFSEFJjTHTGaKS\HKEHSKESYHTc:FSYSEHLbDTS\HVSYHDjSYKiDEKTdbSEHWSETdbSEYSdbFTyHJEVHRSjGiYDFKSyNVSGUGXKS KEHeGUUSjH_jfDEXHFSKUbDfFKXHaJYVS7HMJEVSYFFDJTSEVSHeGEHZKUKcKEGT\HVKSHaSKFSYbKEHf6YHVKSHDEXSTFDjjFSHZ6bYJEXTdUKIJSHaKSHOSK6SKXSESHTdbJfFSE GVSYHKEHVSEH9UJjTHVSYHXYG>SEH9F:VFSHDjH7DEVSHVSYH86fDUUbDUVSEHSKEHSY6:YjUKdbSTH8JTiGjjSEHTJdbSE\HbD6SEHeSYTJdbF\HKbYH9dbKdiTDUHVJYdb 8JTaDEVSYJEXHJEVH8Y6SKFTJdbSHKEHVSYHZYSjVSH4JHeSY6STTSYE7 RKSHLYKeKUSXKSYFSEHiDjSEHKEHVSEH_98HJEFSY\HJEVHDJdbHQJYGcDH6KSFSFHf6YHMDJTDEXSTFSUUFSHX6ETFKXSH8Y6SKFTcU:F4S\HaDTHKbESEHSYUDJ6F\HVKSHKEHVSY MSKjDFHeSY6UKS6SESEHZDjKUKSEHfKEDE4KSUUH4JHJEFSYTF6F4SE7H86SYHaSbSHVSEHdbYKTFUKdbSEH9iUDeSEHVSYHPSJ4SKF\HVKSHTKdbHeGEHVJ6KGTSEH8EaSY6SYEHjKF FY6XSYKTdbSEH^SYTcYSdbJEXSEHKEHVKSHDYD6KTdbSEH5GUfSjKYDFSHGVSY\HTdbUKjjSYHEGdb\HEDdbH9DJVKy8YD6KSEHeSYfYDdbFSEHUDTTSE7 WDEHjhXSHjKYHSYUDJ6SE\HES6SEHjSKESYHgSXSXEJEXHjKFH9JEE\\HVSYHZSbY6DYSEHRKYES[HVSYH^KEFDygDYHeGEHaDj6GDEXD\HDJdbH66SYHVDT 9dbKdiTDUHVSYHcbKUKccKEKTdbSEHMDJTDEXSTFSUUFSEHZUGYDH4JH6SYKdbFSE7H9KSHaDY\HjKFHSKESYHiGYYSiFSEH8JfSEFbDUFTXSESbjKXJEXHDJTXSTFDFFSF\H6SK jSKESYHZYDJHTSKESY4SKFHKEHMDj6JYXHKjHMDJTbDUFHF:FKX7HRKSHXJFSHZUGYDHaDYHEKdbFHEJYHSKESHfUSK>KXS\HD6TGUJFHeSYU:>UKdbSHMKUfS7HZ6YHjKdbHTFDEVHTKS 6SKEDbSHKjH5SYJdbHVSYHMSKUKXiSKF7H9KSHbDFFSHKbYSHMSKjDFKETSUHCS6JHeSYUDTTSE\HJjHKbYSjHgYJVSYHjKFHKbYSEH6STdbSKVSESEHQKEi6EfFSEHVDTH9FJVKJj 4JHfKEDE4KSYSE7 RKSHPDFJYHbDFFSHZUGYDHEKdbFH6SX6ETFKXF7H9KSHaDYHVJYdbHSKESHMDTSETdbDYFSHSEFTFSUUF\HD6SYHKjHiDFbGUKTdbSEH5UDJ6SE\HKEHSKESYHXGFFSYXS6SESE ZYhjjKXiSKFHfDEVHTKSH]YGTFHJEVHOS6SETfYSJVS7HRKSHXDUUfDbYFSEHEDdbHOGJYVSTHJEVHZDFKjDHaDYSEHMhbScJEiFSHKbYSTHOS6SET\HJEVHTKSHFY:JjFS VDeGE\HSKESTH]DXSTHXSE6XSEVH5SUVH4JHTcDYSE\HJjHDJdbHKETHMSKUKXSHODEVH4JHcKUXSYE\HaGHZ[JYHOGYV[\HaKSHTKSHSTHDJTVY6diFS\Hf6YHVKSHQYUhTJEX VSYHWSETdbbSKFHVSEH8YSJ4STFGVHSYUKFFSEHbDFFS7
8UTHKbYH^DFSYHKjHfSYESEHCS6JHTdbaSYHSYiYDEiFS\HYSKTFSHTKSHEDdbHMDJTS\HJjHKbEH4JHcfUSXSE7H86SYHVDjKFHbDFFSHTKSHKbYSH8JfSEFbDUFTXSESbjKXJEX KEHVSYHgJEVSTYScJ6UKiHeSYaKYiF7H9KSHUKS>HTKdbHTc:FSYHeGEHSKESjHTJcSYYSKdbSEHnUyLYGF4SEHKEHSKESjHDYD6KTdbSEH9dbSKdbFJjHDEbSJSYE7HRGYFHaJYVS ZUGYDHaKSHRYSdiH6SbDEVSUFHJEVHJjHVKSHeSYSKE6DYFSEHQKEi6EfFSH6SFYGXSE7H^GEHKbYSjHDYD6KTdbSEHRKSETFbSYYEHaDYHTKSH4JjH9dbJfFSEHYJEVHJjHVKS _bYHeSYJYFSKUF\HJEVHUSVKXUKdbHVSYHQEFTFSUUJEXHVJYdbHVKSHMDTSETdbDYFSHeSYVDEiFSHTKSHaGbU\HVD>HTKSHEKdbFHeGEHKbjHGVSYHTSKESEH9hbESE eSYXSaDUFKXFHaJYVS7H9KSHjJ>HJET:XUKdbHXSUKFFSEHbD6SE\HJjHjSKESYHZYDJHDJTHVKSTSYH^SY6DEEJEXHSKESHeSY4aSKfSUFSHgGFTdbDfFH4JHTdbKdiSE\HKEHVSY TKSHJjHQYUhTJEXH6SFFSUFS7 8jHb:YFSTFSEHFYKffFHSTHVKSHZKUKcKEGT\HVD>HKEH9DJVKy8YD6KSEHxHSEFXSXSEHVSEHDJTVY6diUKdbSEH5DYDEFKSEHVSTH8GYDEH4JXJETFSEHVSYHZZDjKUKSHVST gJdbST[HxHiSKEHdbYKTFUKdbSYH5GFFSTVKSETFHD6XSbDUFSEHaSYVSEHVDYf\HtDHTGXDYHVSYHgSTKF4HeGEH8YSJ4SEHJEVHgK6SUEHJEFSYH9FYDfSHTFDEV7 WDEHaKYVHjKYHSEFXSXSEbDUFSE\HVKSHOS6SETeSYb:UFEKTTSHDJfHVSEHLbKUKccKESEHb:FFSEHTKdbHKE4aKTdbSEHXS6STTSYF\HTGHaKSHVKSHODJVDFGYSEHVST KEVKTdbSEHXKYFTdbDfFTaJEVSYTHb:JfKXHDYXJjSEFKSYSE\HKEHVSEHUSF4FSEHkDbYSEHTSKHVGdbHVDTHF:XUKdbSHRJYdbTdbEKFFTSKEiGjjSEHKEHVKSTSYHZXYh>FSE RSjGiYDFKSHVSYHXSUF[HeGEHSKESjHDJfH4aSKHRGUUDYHDEXSTFKSXSE7HQTHfYDXFHTKdbHEJY\HG6HVKSTSHcDJTdbDUSHfKEDE4KSUUSH^SY6STTSYJEXHaKYiUKdbHVSE eSYTdbJUVSFSEH8USKE6DJSYEHJEVHL:dbFSYEHGVSYHXDYHVSYHWDTTSHVSYHZRDUKF[\HVSYH_E6SY6bY6DYSE\H4JXJFSHiGjjF7H[VSYHG6HEKdbFHKEHXKYiUKdbiSKFHVDT 5SUVHKEHVKSH8DTTSEHVSYHcYKeKUSXKSYFSEH8DTFSE\HVSYH5YG>XYJEV6STKF4SYHJEVHVSYHDJT6SJFSYKTdbSEHXJdbSYSY\HVSYHZaDjKEVDY[\HVSYHNEVKTdbSEH_EKGE fUKS>F7 RKSHCbYKTFSEbSKFH8jSYKiDTHJEVHQJYGcDTHKTFHFKSfHXSfDUUSE\HVD>HTKSHSKESHTGUdbSHRKTiYKjKEKSYJEXHJEVH8ESdbFJEXHKbYSYHcbKUKccKEKTdbSE 5UDJ6SET6Y6VSY\HDJdbHaSEEHTKSHEKdbFHVSYHZiDJiDTKTdbSEH7DTTS[HDEXSbhYSE\HaKVSYTcYJdbTUGTHbKEEKjjF\HVD>HTKSHTKdbHVJYdbHVKSH6SbSYYTdbSEVS LGTKFKGEHVSYHTDJVKTdbSEHR\EDTFKSHDJfHVSjHLSFYGUSJjjDYiFHSYcYSTTSEHJEVHSYEKSVYKXSEHU:>F7HNdbHbD6SH6SKHjSKESEHgSTJdbSEHKEHkSVVDbHGVSYH7KDV EKSjDUTHSKESHgK6SUHjKFXSf6bYF7HRDf6YHfDEVHKdbHDUTH5D6SHVSTHMGFSUTHDJfHjSKESjHPDdbFFKTdbHSKESH8JTXD6SHVSTHZLYGFGiGUUTHVSYHXSKTSEHeGEHaKGE[7 RKSHKEVGESTKTdbSEHWJTUKjSHTFSUUSEHVKSH4DbUYSKdbTFSH5YJccSHeGEHZMDVtK[\HVKSHt:bYUKdbHVKSH7SKTSH4JYHMSKUKXSEH8DD6DHKEHWSiiDHDEFYSFSE7HjbEUKdb eSYb:UFHSTHTKdbHjKFHVSEHdbYKTFUKdbSEHZKUKcKEGT\HVKSHKEHbSUUSEH9dbDYSEHDjH8DYfYSKFDXHEDdbHkSYJTDUSjHcKUXSYE\HTdbaSYSHMGU4iYSJ4SHTdbJUFSYE\HKbYS OKFDESKSEHDETFKjjSE\HJjHVSEHOSKVSETaSXHCbYKTFKHEDdb4JeGUU4KSbSE7HWKYHKTFHDJfHVSYH^KDHRGUGYGTDHDJfHXSfDUUSE\HVD>HTKdbHDJdbHiGjcDiFSH5YJccSE eGEHNEVKDESYEHDJTHVSEH8EVSETFDDFSEHKEHVKSHLYG4STTKGEHSKEYSKbFSE7H8EHKbYSYHMDJFfDY6SHJEVHfYGjjSEH5STFKiHiGEEFSHKdbHTKSHeGEHKbYSE GTFDTKDFKTdbSEH5UDJ6SET6Y6VSYEHiDJjHJEFSYTdbSKVSE7H9GUUFSHVDTHCbYKTFSEFJj\HVDTHKjH86SEVUDEVHSKESjHTdbKSYHJEDJfbDUFTDjSEHQYGTKGETcYG4S> DJTXSTSF4FHKTF\HKEHaJiJEfFHTSKEH9dbaSYXSaKdbFHJEVHTSKESHb6SYUS6SETbGffEJEXSEHDJfHtSESHS`GFKTdbSE\HfDY6KXSEH^hUiSYHeSYUDXSYE\HVKSHEGdbHTFDYi KjH5UDJ6SEHTKEVm
RSYH9FDDFTiDcKFDUKTjJTHDUTHOhTJEX 8JfHVSEHLbKUKccKESEHbDFHVSYHaSK>SHWDEEHTSKESHCbDEdSHeSYTcKSUF\HKEHWDEKUD\HDjH7DEVSHVSYHDTKDFKTdbSEH8GEFKESEFDUjDTTS\HSKEHeGY6KUVUKdbST 9FDDFTaSTSEHKETHOS6SEH4JHYJfSEHJEVHxHXSTF6F4FHDJfHVKSHdbYKTFUKdbSEH5S6GFSHVSYHCDYKFDTHJEVHSKESH^DYKDEFSHVSTHZ8jSYKdDEHVYSDj[HxHDUUSE DEVSYSEH9FDDFSEHVKSTSYH7SXKGEHSKEH^GY6KUVHTG4KDUSYH5SYSdbFKXiSKF\HaKYFTdbDfFUKdbSYHR\EDjKiHJEVHfYSKbSKFUKdbSYHQEFfDUFJEXHeGY4Jf6bYSE7 9FDFFHVSTTSEH6SbDJcFSEHTKdbHKEHWDEKUDHSKESHLTSJVGyRSjGiYDFKS\H6GVSEUGTSH8GYYJcFKGEHJEVHSKEHaJTFDEVHiYDTTSTFSYHXSTSUUTdbDfFUKdbSY ^SYaSYfJEXSE7H9GHjJ>HVSYHXSTFSEHFDFSEUGTHJEVHSYTdbYGdiSEH4JTSbSE\HaKSHTKdbHVKSHQYESJSYJEX\HVKSHFSdbEKTdbSHQEFaKdiUJEX\HSKEH9\TFSj TG4KDUSEH8JTXUSKdbTHJEVHVSTH4JESbjSEVSEHXGbUTFDEVSTHVSYH5STDjF6SehUiSYJEXHKEH9FDDFSEHeGUU4KSbF\HVKSHVDTHMSKUHKbYSYHg6YXSYHKEHSKESY TFYSEXSE\HDJFGYKF:YSEH8JTUSXJEXHVSTH8GEfJ4KDEKTjJTHfKEVSE\HaKSHVDTHDEf:EXUKdbHJEFSYHVSjHaGbUaGUUSEVSEHRSTcGFSEHOSSH8aDEHvSaHKE 9KEXDcJY\HD6SYHDJdbHKEH]DKaDEHJEVHKEH96ViGYSDHXSTdbDb7 RSYHXSaDUFKXSH_j6YJdbHtSVGdb\HVSYHVKSHXSUFHSY6S6SEHU:>F\HaKSHPDcGUSGEHSTHDJfH9DEiFHMSUSEDHeGYDJTTDXFS\HeGUU4GXHTKdbHKEHCbKED7HPDdbHVSj 86fUDJSE\HtDHVSjH9dbSKFSYEHVSTHWDGKTjJT\HVSYHKjjSYbKEHVDTHLYKE4KcHjSETdbUKdbSYH9GUKVDYKF:FHjKFHTSKESYHWD`KjSHZRSjH^GUiSHVKSESE[ DEXSjDbEFHbDFFS\HiDjHVGYFHSKESHGYKXKESUUSHZGYjSUHf6YHXKXDEFKTdbSTHKEVJTFYKSUUSTHXDdbTFJj\Hf6YHQEFaKdiUJEXHeGEHMKXbH]SdbEGUGX\HJEV TSETDFKGESUUSH8EbS6JEXHVSTHOS6SETTFDEVDYVTH4JjHaJXS\HVKSHTKdbHDJfHSKESEHTSUFTDjSEH9\EiYSFKTjJTHTF6F4F7H_EFSYHVSYH8JFGYKF:FHVSY 8GjjJEKTFKTdbSEHQKEbSKFTcDYFSKHJEVHSKESYHTFYDffSEHZGYjHVSTH9FDDFTiDcKFDUKTjJTHSEFfSTTSUFSHTKdbHVKSHaKTTSETdbDfFUKdbSHJEVHeGYHDUUSjHjSYiDEFKUS gSXD6JEXHVSYHMDEy7DTTS7 NEHVSYHOSbYSHSKESYHJFGcKTdbSEHMDYjGEKS\HVKSHVDTHLGUKF66YGHeGEHLSiKEXHVSYHcDYUDjSEFDYKTdbSEHZ9FYSKFiJUFJY[HVSTHXSTFSETHSEFXSXSETSF4F\ fKEVSEHTKdbH8GEfJ4KJT\HWDGHaSVGEXHJEVHtSESYHSYTFSHUSXSEV:YSH8DKTSYHoKEHuKHMJDEXVKHaKSVSY7HRSTTSEH7SKdbTXY6EVJEXH4aSKbJEVSYFHkDbYSHeGY CbYKTFJTHSYUDJ6FHSTHbSJFSHVSYHGffK4KSUUSEHLYGcDXDEVD\HVKSHeSY6UD>FSHRGiFYKEHVSTHWDY`KTjJTyOSEKEKTjJTHVJYdbHSKESEHSbYXSK4KXSE\HDUUSHPGYjSE TcYSEXSEVSEHPDFKGEDUKTjJTH4JHSYTSF4SE7 RDTHdbKESTKTdbSHWGVSUUHbDFHKEHVSjHaKSVSYeSYSKEKXFSE\HKEHiGjjJEKTFKTdbSYHNVSGUGXKSHSYTFDYYFSEH^KSFEDjHPDdbDbjJEXHXSfJEVSE7HPGdbHTFSbF VKSHXKXDEFKTdbSHOSEKETFDFJSHeGYHVSYHaKFDVSUUSHeGEHMDEGK\HD6SYHVKSHiGjjJEKTFKTdbSHODGyRGEXyLDYFSKHKTFHXSTdbjSKVKXHXSaGYVSEHJEFSYHSKESj 5SESYDUTSiYSF:Y\HVSYHTKdbHVKTiYSF\HD6SYHSffK4KSEFHjKFHTSKESEH7SfGYjSEHeGYFDTFSF7H8EHLSiKEXHXSjSTTSE\HaJYVSH]GiKGHKE4aKTdbSEHKEHVSEH4aSKFSE 7DEXHeSYaKSTSE7 RKSHtDcDEKTdbSEH9DjJYDK\HVKSH]^i]HDJTXS4GXSEHaDYSE\HVKSHZXYG>SHGTFDTKDFKTdbSHXGbUTFDEVTTcb:YS[H4JH6SbSYYTdbSE\HTFSUUSEHKjjSYHEGdbHSKE FSdbEGUGXKTdbSTHJEVHaKYFTdbDfFUKdbSTHLGFSEFKDUHSYTFSYH56FSHVDY\HD6SYHVDTH8UKSEFSUy9\TFSjHJEVHVKSHSYSY6FSEH5STSUUTdbDfFTTFYJiFJYSEHVSYHfDTF JEJEFSY6YGdbSEHYSXKSYSEVSEHOK6SYDUVSjGiYDFKTdbSEHLDYFSKHwORLxHUDTTSEHTKdbHDJfHDEVSYSHO:EVSYHEKdbFH66SYFYDXSE7HRKSHDUU4JHSEXS\HGfF JEFSYa6YfKXHaKYiSEVSHgS4KSbJEXH4JjHSbSjDUKXSEHDjSYKiDEKTdbSEHZSKEV\HVKSHDUUSYVKEXTHEKdbFHSaKXHVDJSYEHV6YfFS\HTFh>FH6SKHVSEHPDdb6DYEHDJf 9iScTKTHJEVH^SYaJEVSYJEX7HNEHXSaKTTSYHMKETKdbFHKTFHkDcDEH4JjHQEXUDEVHVSTHLD4KfKiHXSaGYVSE7 NEHNEVGESTKSE\H]bDKUDEV\HJjHEJYHVKSTSH4JHESEESE\H6SXSXESFHjDEHVSjHaSTFUKdbSEHXKYFTdbDfFTT\TFSjHjKFH8YXaGbE\HTSKFHDEXS6UKdbHVKS iDFDTFYGcbDUSH7S4STTKGEHVSYHESJE4KXSYHkDbYSHVJYdbHVKSHeSYfSbUFSEH7KdbFUKEKSEHVSTHNEFSYEDFKGEDUSEHX:bYJEXTfGEVTHeSYJYTDdbFHaJYVSE7HRKSHESJS\ YSdbFH6SDdbFUKdbSHXKYFTdbDfFTSYbGUJEXHkDiDYFDT\HVKSHTKdbHDJfHVKSH8JfEDbjSf:bKXiSKFHVSTHgKEESEjDYiFSTHTF6F4F\HGYKSEFKSYFHTKdbHEKdbFHjSbYHDEHVSE 8YKFSYKSE\HVKSHSKETFHeGEHXDUUH9FYSSFHeGYXSXS6SEHaJYVSE7HRSYHeKSUXScYKSTSESH]JY6GiDcKFDUKTjJTHbDFHKEHVSEHeSYXDEXSESEH4aSKHkDbY4SbEFSEHtSVS TdbhcfSYKTdbSHoJDUKF:FHSKEXS66>F7HQYHKTFHUSKVSYHDUU4JGfFHJEFSYHVSYHZYDF4SHVSTHCDTKEGyHGVSYHXDYH7DJ6FKSYiDcKFDUKTjJTHDJfXSFYSFSE7H9SKES 8E4KSbJEXTiYDfFHKTFHVD6SKHeSYUGYSEXSXDEXSE7
XDTHaKYVHeGEHVSjHZaD\HGfHUKfS[HVSTHaSK>SEHWDEEST\H4JjDUHVSTHPGYVDjSYKiDESYT\HVSEHVKSHtJEXSH5SESYDFKGEHKEHVSYHRYKFFSEHXSUFHJEVHVSE 9dbaSUUSEU:EVSYEHaSKFSYbKEH4JHiGcKSYSEHTJdbF\HDjHQEVSH66YKX6USK6SEmHCGdDyCGUDHJEVHWdRGEDUVeT\HVDTH8EXS6GFHeGEHZDTFfGGV\H6STTSYHXSTDXF eGEHkJEifGGV\HVDTHjGETFYhTSHZSFFUSK6KXiSKFH4JYHZGUXSHbDFHJEVH4JHSKESYHaSUFaSKFSEHLUDXSHaJYVSkHVKSHTcGYFUKdbS\HVSYHWGVSYEKF:FHDEXScD>FS 8USKVJEXHeGEHkSDETHJEVH]y9bKYF\HSKESHVSjH86SEVUDEVHaSKFH66SYUSXSESH4SKFXSEhTTKTdbSHOKFSYDFJYHJEVHSKESHJESYTdbhcfUKdbSHWJTKiT4SES\HVSYSE _YTcY6EXSHtSVGdbHDJfHVKSH9cKYKFJDUTHVSYHDfYKiDEKTdbSEH9iUDeSEH4JY6diXSbSE7 MGUU\aGGVHbDFHTSKESHTdbhcfSYKTdbTFSHLbDTSHaGbUHbKEFSYHTKdb\HJEVHaSYHi:jSHbSJFSHTdbGEHKEHQJYGcDHDJfHVKSHNVSS\HSKEHDjSYKiDEKTdbSTH8JFGH4J iDJfSEmHXKSHSKEHWSESFSiSUHiUKEXFHVDHVSYHaJTDjjSE6YJdb\HVKSHJEeSYjSKVUKdbSHNETGUeSE4HVSTH8JFGjG6KUXKXDEFSEH5SESYDUHWGFGYTH66SYHVSE 8FUDEFKi\HbDFFSHVGdbHJEFSYHVSYHLY:TKVSEFTdbDfFHQKTSEbGaSYTHVSTTSEH9SdYSFDY\HGfHRSfSETSHCbDYUSTHQ7HXKUTGE\HVSjHjDEH4JHSEXS 5STdb:fFT6S4KSbJEXSEH4JH5WHeGYaDYf\HVDjDUTH66SY4SJXSEVHSYaKVSYFYHZXbDFHKTHXGGVHfGYH5SESYDUHWGFGYT\HKTHXGGVHfGYHFbSH_EKFSVH9FDFST7[ 8JY4Jj\HVKSHfDY6KXS\HVKSHZEKdbFaSK>S[HWSETdbbSKFHaSEVSFHTKdbHeGEHSKESjHaSTFUKdbSEH9\TFSjHD6\HVDTHKbYHFYGF4HDUUSYHXSXSEFSKUKXSE gSFSJSYJEXSEHKjHPDjSEHVSYHZYSKbSKFHcGUKFKTdbSHNETFD6KUKF:FHJEVHhiGEGjKTdbSH5YDVaDEVSYJEXSEH4JjJFSF7H9KSHYKdbFSFHTKdbHSbSYHDJfHDJFGYKF:YS 7SXKjSHDJT\HDJfHZaGbUaGUUSEVSHRSTcGFSE[HxHSKESH8DFSXGYKS\HVKSHSKEXSTFDEVSESYjD>SEHS`FYSjHTSUFSEHKTFHx\HJEVH6UKdiFHXS6DEEFHDJfHVSE dbKESTKTdbSEH8GUG>HeGEH]\pHWKUUKDYVSEHWSETdbSE\HVSYHTSKESHgSVSJFJEXHDUTH7SKdbHVSYHWKFFSH4JY6diXSaGEESEHbDF7HRSYHMDEy7DTTSHKTFHSTHDJf TSETDFKGESUUSHXSKTSHXSUJEXSE\HVSYHWDTTSHTSKESYHDJTHVSjHQUSEVHDJfFDJdbSEVSEHgSehUiSYJEXHDJTYSKdbSEVSHQYE:bYJEX\HTG4KDUSHZ6YTGYXSHJEV SKESEHYDTDEFHaDdbTSEVSEHgKUVJEXTTFDEVHKbYSYH8KEVSYH4JHeSYTdbDffSE7 RKSHeGEHXDTbKEXFGEHXSf6bYFSH8UUKDE4HSYaSKTFHTKdbHDUTHJEf:bKX\HVSEHVKeSYTSEHXSXESYKTdbSEHZYSKTdb:YUSYXYJccSEHVSTHYDVKiDUKTUDjKTdbSE ZSKEVSTUDXSYTHVDTH76diXYDFH4JH6YSdbSE7HRKSH_9H8Yj\HfKEVSFHTKdbHKEHVSEHESJSEH9cKSUYSXSUEHVSTHDT\jjSFYKTdbSEH8YKSXSTHEKdbFH4JYSdbFHJEV SYUSKVSFHFYGF4HSKESYHD6TJYVSEH9FSKXSYJEXHKbYSYHcb:EGjSEDUSEHFSdbEGUGXKTdbSEHb6SYUSXSEbSKFHSKESEH76diTdbUDXHEDdbHVSjHDEVSYSE7HRDTHEDXF 4JT:F4UKdbHDjHJEU:EXTFHEGdbHTFYDbUSEVSEHLYSTFKXSHVSYHZSKE4KXHeSY6UKS6SESEH9JcSYjDdbF[7 XKYHTKEVHeGEHVSEHVSTGUDFSEHaJTF:EVSEHDJfHVSEHLbKUKccKESEHDJTXSXDEXSE\HJjH4JHVKSTSYHXUG6DUSEHgSFYDdbFJEXH4JHXSUDEXSE7HkSETSKFTHVSY 96VdbKEDy9SS\HDJfHVSjHDTKDFKTdbSEH8GEFKESEF\HeGUU4KSbFHTKdbHVSYHT\TFSjDFKTdbSH8Jf6DJHSKESYHjKUKF:YKTdbSEHWDdbF\HVSYH^GUiT6SfYSKJEXTDYjSS\HVKS SKETFHWDGHKETHOS6SEHYKSfHJEVHVKSHbSJFSHKbYSHjDYKFKjSEH8j6KFKGESEHiUDYH4JHSYiSEESEHXK6F7H9dbGEHTSKFH5Y6EVJEXHVSYH^GUiTYScJ6UKiHTKEVHVKS 8YdbKcSUSH9cYDFUS\HJEVHLDYDdSU\HSKESH8ETDjjUJEXHaKE4KXSYH8FGUUS\HKEHVSYSEH_jiYSKTHYSKdbSH^GYiGjjSEHDEHQYVhUHJEVH5DTHXSGYFSFHaJYVSE\HDJf VSEHGffK4KSUUSEHODEViDYFSEHDUTHJEeSY:J>SYUKdbSYHgSTFDEVFSKUHCbKEDTHSKEXS4SKdbESF7H96VUKdbHeGEHMDKEDEHbDEVSUFHSTHTKdbHJjHSKESHaSKFS WSSYST4GES\HVKSHfDTFHDEHVKSH86TFSEH^KSFEDjT\HWDUD\TKDTHJEVHDJdbHVSYHLbKUKccKESEHbSYDEY6diF7 NjHQYETFfDUUHUKS>SHTKdbHbKSY\HfDUUTHVSYHFSYYKFGYKDUSH8ETcYJdbHeSYaKYiUKdbFHa6YVS\HVSYHXSTDjFSHjDYKFKjSH^SYiSbYHVSYH9FYD>SHeGEHWDUDddD\HVKS eGjHNEVKTdbSEH4JjH9FKUUSEH[4SDEHf6bYF\HiGEFYGUUKSYSEHJEVHEGFfDUUTH6UGdiKSYSE7HQKEHcDDYHaKE4KXSH5DYEKTGESEHaJYVSEHDJfHSKEKXSEHVKSTSYHQKUDEVS 6SYSKFTHTFDFKGEKSYF\HaDTHJEFSYHVSEH8EYDKESYEHbSfFKXSEHXKVSYTcYJdb\H6SYSdbFKXFSH9GYXSEHJEVHTGXDYH6SXYSE4FSH5SXSEjD>EDbjSEHDJTXSUhTFHbDF7 9SKFHVKSHWDEVDYKESHeGEHLSiKEXHVSYH89Q8Py[YXDEKTDFKGEHXSXSE66SYHDUTHfYSJEVUKdbSHPDdb6DYEHDJfFYSFSEHJEVHVSYHYKSTKXSHRYDdbS\HVKSTST ZD6SUFKSYHVSTHQYfGUXT\HSKEHbDYjUGTSTH8EFUKF4H4SKXF\HaSYVSEHVKSHTFYDFSXKTdbSEH8ETcY6dbSH4JY6diXSTFSUUF7HRSEHT6VGTFDTKDFKTdbSEHLDYFESYEHaKYVHSKES SYFYDXYSKdbSHaKYFTdbDfFUKdbSHaJTDjjSEDY6SKFHKEHVKSTSjH7DJjHDEXS6GFSEHJEVHTdbjDdibDfFHXSjDdbF7HRKSHeGY66SYXSbSEVHDEXSTcDEEFSE gS4KSbJEXSEH4aKTdbSEHVSEHD6TGUJFHiGEFY:YSEH7SXKjSEHeGEHWDEKUDHJEVHLSiKEXHbD6SEHTKdbHaSKFXSbSEVHXSXU:FFSF\HVSEEHjDEHaSK>HDJdbHKj WDUDdDtDEXyLDUDTF\HaSYHKEHD6TSb6DYSYHaJiJEfFHKjHXSTFcD4KfKiHVKSH9dbKSVTTcY6dbSHf:UUSEHaKYV7 X:bYSEVHKdbHVKSTSHaSKUSEHTdbYSK6S\HSEFVSdiSHKdbHKEHSKESYHDjSYKiDEKTdbSEH8XSEFJYjSUVJEX\HVD>HVKSHDJFGiYDFKTdbSHLY:TKVSEFKEH5UGYKDH8YYG\G WDdDcDXDU\HEDdbHPKSVSYTdbUDXJEXHSKESTHWKUKF:YcJFTdbSTHKEHVSYHMDJcFTFDVF\HKbYSHeSY6U6ffSEVSHQESYXKSHaKSVSYHXSXSEHVSEHKTUDjKTdbSEH5SXESYHDE VSYH96VfUDEiSHKbYSYHdbYKTFUKdbSEH7ScJ6UKiHYKdbFSF7H8JfHWKEVDEDG\HTGHUSTSHKdb\HKTFHSTH4JHbSfFKXSEH5SfSdbFSEH4aKTdbSEH7SXKSYJEXTTGUVDFSEHJEV 5JSYYKUUSYGTHVSYHWGYGHOK6SYDFKGEHZYGEFHXSiGjjSE7HNEHVSjH9JjcfUDEVHVSYHNETSU\HaGHYSKdbSHQYVXDTyJEVHnUeGYiGjjSEHSEFVSdiFHaJYVSE\ jJ>FSEHqhHhhhHZDjKUKSEHSeDiJKSYFHaSYVSE7 RKSHUDJfSEVSEH^SYbDEVUJEXSEH66SYHSKESHSeSEFJSUUSH8JFGEGjKSHVSTHKTUDjKTdbSEH96VSETHTKEVHVDjKFH6KTHDJfHaSKFSYSTH4JjH9FKUUTFDEV XSiGjjSE7HRKSH7SXKSYJEXHeGEHWDEKUDHTKSbFHTKdbHDJfHKbYSjHSKXSESEH]SYYKFGYKJjHVSYHJEbSKUTdbaDEXSYSEH8Gj6KEDFKGEHeGEHjJTSUjDEKTdbSj 8Jf6SXSbYSEHJEVHeSYUGdiSEVSjHLSFYGUSJjy7SKdbFJjHDJTXSTSF4F\HVKSHTKdbHaKSHSKEHYGFSYHZDVSEHVJYdbHVDTHeSYiYDjcfFSH^SYb:UFEKTHVSTHXSTFSET 4JjHaSUFJjTcDEESEVSEH56YFSUHVSTHZRDYyJUyNTUDj[H4KSbF7
RKSH8UDXSHVSTH8SESDT WKFHSKESYHiJY4SEH8ESiVGFSHDJTHVSYHQcGdbSHVSYHCGEIJKTFDVGYSEHaGUUSEHaKYHVKSTSEHScKTdbSEH7JEV6UKdiHDJfH96VGTFDTKSEHD6TdbUKS>SE7H^SYTSF4SE aKYHJETHKEHVDTHkDbYH]q`]H4JY6di7HRSYHcGYFJXKSTKTdbyTcDEKTdbSHXSUFSEFVSdiSYHZSYVKEDEVHVSHWDXSUUDEHaDYHTGS6SEHDJfHVSEH^KTD\DTHSYTdbUDXSE aGYVSE7H^GEHTSKESYHJYTcY6EXUKdbSEHZUGFFSHDJTHf6EfH8DYDeSUUSEHaDYSEHEJYHEGdbH4aSKHTSSF6dbFKX\HJEVHVKSHSYYSKdbFSEHjKFHXYG>SYHW6bSHtSES USXSEV:YSEHWGUJiiSEyNETSUE\HaGHVSYHXYh>FSH7SKdbFJjHVSYHVDjDUKXSEHaSKF\HE:jUKdbHVKSH5Sa6Y4ESUiSE\HiGTF6DYSYHDUTH5GUV\HDJfHVSEHg:JjSE aJdbTSE7 RSYH9cDEKSYHkJDEH9S6DTFKyEHVSHQUdDEG\HVSYHVDTH8GjjDEVGHVSYHQ`cSVKFKGEH66SYEGjjSEHbDFFS\HUKS>HeGYHVSjHaKE4KXSEHQKUDEVH]KVGYSHVSE 8EiSYHTSF4SEHJEVHEDbjHjKFHVSjHVGYFKXSEH9JUFDEHxH6KTHbKSYbKEHaDYHVSYHNTUDjHDUTGHTdbGEHeGYXSVYJEXSEHxH^SYbDEVUJEXSEHDJf7HRSYH9JUFDEHaDY XSYEH6SYSKF\HTSKESHiGTF6DYSEH5Sa6Y4S\HVDYJEFSYHDJdbHLfSffSY\HaKjF\H^DEKUUSHJEVHWJTiDF\HDEHVKSHZYSjVSEH4JHeSYiDJfSE\HaSEEHTKSHKbjH9dbJF4 XSa:bYFSEHXSXSEHTSKESEH7KeDUSEHJEVHJEjKFFSU6DYSEHPDdb6DYE\HVSEHS6SEfDUUTHjJTUKjKTdbSEH9JUFDEHeGEH]SYEDFS\HVSTTSEHS6SETGHiUSKESTH7SKdb DJfHSKESjH^JUiDEYKffHjKFHVSEHLGYFJXKSTSEHcDiFKSYFS7 RKSHOJTKFDESYHaDYSEHEDdbH_jTdbKffJEXHVSTH8DcTHVSYH5JFSEHMGffEJEXHJEVHRJYdbIJSYJEXHVSTHNEVKTdbSEH[4SDETHKbYSEHK6SYKTdbSEHPDdb6DYE 4JeGYXSiGjjSE\HbDFFSEH6SYSKFTHDJfHVSEHWGUJiiSEHZJ>HXSfD>FHJEVHFYDETcGYFKSYFSEHjKFHKbYSEH9dbKffSEHVKSHiGTF6DYSHPSUiSEfYDdbFHEDdbHOKTTD6GE7 PJYHSKESYH8DYDeSUUSHWDXSUUDETHKTFHxHjKFH5Sa6Y4SEH66SYfYDdbFSFHxHVKSHMSKjYSKTSHEDdbH9cDEKSEHXSUJEXSE7HRKSHZ^KdFGYKD[HbDFFSHVDjKFHVKSHSYTFS XSUFJjTSXUJEXHeGUU6YDdbFHJEVHVSfKEKFKeH6SaKSTSE\HVD>HVKSHQYVSHSKESH8JXSUHKTF7HWKFHVSjHQYUhTHVSYHODVJEX\HVKSHVKSHDEH9iGY6JFHSYiYDEiFSE\HFGFDU SYTdbhcfFSEHWDFYGTSEHEDdbHMDJTSH6YDdbFSE\HaDYSEHVKSHXSaDUFKXSEH8GTFSEHVSTH_EFSYESbjSETHWDXSUUDEHjSbYHDUTHDJTXSXUKdbSE7HRKSHJEXU6diUKdbS WDEETdbDfFHVSYHeKSYFSEH8DYDeSUUSHZ]YKEKVDV[HiGEEFSHVKSHjGYTdbSEHLUDEiSEHKbYSTH9SXUSYTHEKdbFHjSbYHTSSF6dbFKXHjDdbSE\HfKSUHKEHVKSHM:EVSHVSY
LGYFJXKSTSEHJEVHSEVSFSHKjH8SYiSY7 86SYHVKSHQY6SEHMSKEYKdbTHVSTH9SSfDbYSYTHTGUUFSEHKbYSYHfSYESEHgSTKF4JEXSEHEJYHSKEHkDbYbJEVSYFHUDEXHfYGbHaSYVSE7HNjHkDbYH]rhqHeSYEKdbFSFS VKSHZUGFFSHVSYHZ^SYSSEKXVSH[GTFKEVKTdbSHCGjcDXEKS[HjKFH66SYUSXSESYH9dbKffTDYFKUUSYKSHVDTHTdbaDdbSHcGYFJXKSTKTdbSH8JfXS6GFH6SKH]KVGYSHJEV 8j6GE7HRKSHUDEXSHbGUU:EVKTdbSH8GUGEKDUbSYYTdbDfFH66SYHNEVGESTKSEH6SXDEE\HJEVHEJEHaDYSEHSTHVKSHZLfSffSYT:diS[HeGEH8jTFSYVDj\HVKSHTKdbHDE VSEHjDXKTdbSEH]YGcSEXSa:dbTSEH6SYSKdbSYFSE7HPDdbHSEVUGTSEH9dbDYj6F4SUEHaJYVSHVDTH8hEKXYSKdbHLGYFJXDUHDJfHVSEH6STdbSKVSESEH7STF6STKF4 VSYH[TFb:UfFSHeGEH]KjGYHD6XSVY:EXF\HJEVHDJfHVKSTSjH_jaSXHiGjjSEHaKYHDEHVSEH8JTXDEXTcJEiFHVKSTSTHgJdbSTH4JY6di7 XSUdbHSYTFDJEUKdbSTH9cSiFDiSUHJEVHaSUdbSYHXDEVSUHVSYHaSKFSE7HaaSKHDFUDEFKTdbSH7DEVyHJEVH8USKETFDDFSEHVSYHQJYGc:KTdbSEH_EKGEHJETSYSY ]DXSHxHLGYFJXDUHJEVHMGUUDEVHxHbD6SEHKEHtSESEH]DXSEHKbYSHKjcSYKDUSEH]Y:JjS\HKbYSHjSYiDEFKUSH5KSYHJEXS46XSUFHDJTXSUS6F7H8jHQEVSHTFDEVHaKS SKEHjhYVSYKTdbSYH]DKfJEHVDTHiJY4SHtDcDEKTdbSHaaKTdbSETcKSUHVSTHaaSKFSEHXSUFiYKSXST7HRDTHMKTTSEHVSYHZDbESHjKFHVSYHYGFSEH9dbSK6SHVSY DJfXSbSEVSEH9GEESH66SYHVSYHWGUJiiSEy9SSH6STKSXSUFSH]^i`HVSEHUSF4FSEH8iFHSKESYHJTJYcKSYFSEH5Yh>SHVSTH86SEVUDEVST7HZoJKTHFDUKDHfDEVG FSjcSYSFHDHUDdYKjKTHxHXSYHeSYjDXHTKdbH6SKHTGUdbSYH9dbKUVSYJEXHVSYH]Y:ESEH4JHSEFbDUFSEm[H6SiUDXFSHVSYHMSUVH8SESDTHKjHQcGTHVSTHRKdbFSYT ^SYXKUHVSEH_EFSYXDEXHeGEH]YGtD7HWDEHSYUDJ6SHDJdbHJET\HDjHQEVSHVKSTSTH6JEFSEH8DUSKVGTiGcTHfSYESEHXSUFXSTdbSbSETHSKESHbKTFGYKTdbSH]Y:ESH4J eSYXKS>SE7
CDEFGHIJKFG
CLMNO »PQFFJRJHSETHUJVGRWVJXY ZJRH[DQIJRHSETHTQJHLSEEJE \J]QEU^HQ_H`SEQHabbc OdIGHIeRDWVH[DQIJRHfQdVJd_HMMgHD_HacgH`SdQHhibbH8JQHTJRH9JRD8IWVQJTSEUHTJIHTJSFIWVJEHlIFDIQDFQIWVJEHmKeJTQFQGEI]GReIHnSRHNQJTJRIWVdDUSEU TJIHoGKJRDSpIFDETJIHQ_H[DQIJRRJQWVHCVQEDq l[G__FHMVRHbGRHTJEHcJQET^HIGHdQRTHTJRIJd8JHUJIWVdDUJEXH\DRTGEHdQRTHEQWVFHUJUJ8JEXHeJpDEUJEJHdJRTJEHEQWVFHUJ_DWVFXHfJR mSWVHQEHTQJHLfETJHpfddF^HIJQHmSWVHbJRpDddJEXHfQJHbGRHFDSIJETH`DVRJEHTQJHLSEHEJEHSEFJRHQVRJ_H[gEQUHmFnJdHIQWVHJQEJEHND_JE UJ_DWVF^HTJRHIQJHEGWVHhJFnFHQEHi8JRdQJpJRSEUHSETHjfRWVJEHUJdDdFQUHJRIWVJQEJEHdfvF^HIGH_gUJHTJRHND_JHZJSFIWVJRHQEHCVQED DSpHFDSIJETH`DVRJHTDE]HmSWVHQEHJQEJRHfJQIJH8JIFfFQUFHdJRTJE^HTDvHJIHEQJ_DdIHdQJTJRHJQEHCVQEJIJHdDUF^HJQEJEHZJSFIWVJE IWVJJdHDEnSIJVJEXY ZJRHfGRFdDSFHTQJIJRHOEIeRDWVJH]dDEUHIGUDRHQEHTJEHlVRJEHTJIHTD_DdQUJEHwJQWVI]DEndJRIHCVdGTdQUHnSHLGVJEdGVJxyWVQddQEUIpzRIFHIGHJKnJIIQb^ TDvHJRHTQJHDEdJIJETJEH`GSREDdQIFJEHDSpHJQEJHIFDR]HbJR]zRnFJHSETHD8UJ_QdTJRFJH9JRIQGEHTJRHlLSEEJERJTJYHbJRepdQWVFJFJgHO8JRHTDIH{EVJQdHdDR UJIWVJVJEgHffVRJETHTJIHmRIFJEHfJdF]RQJUIHIGddFJHTQJH8RQFQIWVJH\RGeDUDETDHTQJHLSEEJExjJFDeVJRHDSpURJQpJEHSETHDdIHy|_8GdHpzRHTJSFIWVJ oDR8DRJQHDEeRDEUJREg fQdVJd_HMMgHVDFFJHIQWVHQEHoRJ_JRVDbJEHDSpHTQJHmR_GRTSEUHTJIHTJSFIWVJEHeJIDETFJEH[dJ_JEIHbGEH[JFFJdJRHTSRWVHTQJHOSpRzVRJRHTJR oGKJR8JdJUSEUH8JnGUJEgHoJQH8JIIJRJRHeJIWVQWVFI]JEEFEQIHVfFFJHJRHUJdSvF^HTDvHTDIHpRzVJHWVRQIFdQWVJHO8JETdDETHbGRHTJEHDIQDFQIWVJEHLGRTJE TJIHLSEEJE]gEQUIHOFFQdDH}H8JQHTJEHeJR_DEJEHmFnJdHUJEDEEFH}HQ_H`DVRH~hHDSpHTJEH[DFDdDSEQIWVJEHcJdTJREHTJRHCVD_eDUEJHTSRWVHJQEJ [GDdQFQGEHbGEHwg_JREHSETHfJIFUGFJEHUJRJFFJFHdSRTJgHoJQHnSIfFndQWVJRHwJWVJRWVJHVfFFJHJRHJRpDVRJE^HTDvHTDIHbGEHQV_H8JdSETJRFJHEG_DTQIWVJ SR]bGd]HTJRHLSEEJEH}HQEHcJREGIFHDdIHLIQSEUHNSH8J]DEEFHSETHUJpzRWVFJFH}HIWVGEHbGRHSEIJRJRHPJQFRJWVESEUHQ__JRHdQJTJRHTQJHpRSWVF8DRJE m8JEJEHTJIHwJQWVIHTJRHjQFFJHbJRdzIFJFHVDFFJ^HJVJHJIHIQWVHDdIHSEUJIFz_JHmRG8JRJRHSETHleJQvJdHeGFFJIYHUJUJEHfJIFJEHdDETFJHSET JEFIWVJQTJETHnSRH9gd]JRdDETJRSEUHTJRHUJR_DEQIWVJEHyFf__JH8JQFRSUg O8JRHdDIHIWVJRFJHTJEHdJFnFJEHLGVJEnGddJREVJRRIWVJRHlTQJHNGFHTJRHNQ8JdSEUJEYHZDIHdQdVJd_QEQIWVJHwJQWVH8JFJQdQUFJHIQWVHdfEUIFHDEHTJR UJedDEFJEHOSpFJQdSEUHTJIHwJQWVIHTJRHjQFFJgHZJRH[DQIJRHeGdJ_QIQJRFJHVJ__SEUIdGIHUJUJEHTQJHlUJd8JHeJpDVRYHSETHUD8HJQEHeJ_fdTJHQEHOSpFRDU^ DSpHTJ_HTQJHdJIFdQWVJEH9gd]JRHSEFJRHTJSFIWVJRHczVRSEUHQEHVJRGQIQJRJETJ_H[QFIWVHDSpUJRSpJEHdSRTJE^HQVRJHlVJQdQUIFJEHezFJRYHUJUJEHTQJ pJQETdQWVJEHLGRTJEHnSHbJRFJQTQUJEgHZDIHeDFRQGFQIWVJHTJSFIWVJH\S8dQ]S_HJR8DSFJHIQWVHJ8JEpDddIHDEHTJRHZDRIFJddSEUHTJSFIWVJRHjDRQEJpzIQdQJRJ^HTQJ nS_HyFSR_DEURQppHUJUJEHTQJHDIQDFQIWVJEH{EFJR_JEIWVJEHDEIJFnJE^HEDWVTJ_HQVEJEHTDIH8JUdzW]JETJH[G__DETGHlVJHeJR_DEIHFGHFVJHcRGEFXY JRFJQdFHdGRTJEHdDRg llHFJ_eGRD^HGH_GRJIY^H_DUH_DEHJQEdJETJEgHZDIHz8RQUJHyFDDFJE]GEnJRFHTJRHdJQvJEHjJEIWVVJQFHIFDETHTJEHZJSFIWVJEHQEHQVRJRHQ_eJRQDdJE mKeDEIQGEIISWVFHhDH]JQEJIdJUIHEDWVgHZJRHyWVdSvIFRQWVHSEFJRHTQJHDE_DvJETJHJSRGefQIWVJH\RfIJEnHQEHCVQEDH}HJQEHVDd8JIH`DVRFDSIJETHEDWVTJ_ TQJH\GRFSUQJIJEHDEHTJRH[zIFJHbGEH[dDEFSEUHQVRJHZJeJETJEnHjDWDGHDSI8DSFJEH}HdDRHJRIFHQ_HZJnJ_8JRHhiiiHUJnGUJEHdGRTJEg ZJEHoRQFJEHdDRHJIHbJRUgEEF^HTDIHmETJHTQJIJIHJ8JEIGHURDETQGIJEHdQJH8JIWVf_JETJEH[DeQFJdIHJSRGefQIWVJRHfJdFVJRRIWVDpFH_QFHJQEJ_ dzRTQUJEHcQEDdJHnSHnJdJ8RQJRJEgH{EFJRHIQEFpdSFfVEdQWVJEHjGEISE8gJEHVDFFJHIQWVHTQJHfDWVD8dgISEUHbGddnGUJEgHmQEJH]dJQEJH8RQFQIWVJHeDRTJxmQEVJQF VGdFJHTJEH{EQGEH`DW]H_QFHJQEJ_HGSDIQHdQFSRUQIWVJEHwQFSDdHJQE^HdfVRJETHJQEJH9GRDSID8FJQdSEUHTJRHWVQEJIQIWVJEH9Gd]I8JpRJQSEUIDR_JJH_QF JRIFDRRFJEHeJIQWVFJREHSETHTJRHeJIFQ]HbGEHwG8GFJREHTJEHdJFnFJEHJQdpJFnJEH]GdGEQDdJRHmREQJTRQUSEUHTJ_HwJQWVHTJRHjQFFJHdQJTJRHJQEbJRdJQ8FJg eGSbJREJSRHCVRQIH\DFFJEHUD8HJQEJHUSFJHcQUSRHD8^HdfVRJETHTJRHEDIIJHyFSR_HQV_HQEIHeJIQWVFH]dDFIWVFJgHM_H\dDFnRJUJEHUQEUJEHTQJHRfEJE bJRIFfETdQWVJRHRDSJRHSETHfJV_SFHSEFJR^HTQJHIJQEJRHGWVFJRHz8JRHTDIH8dDIIJHeJIQWVFHRDEEJEgHHDSFHO8]G__JEH_QFH\J]QEUHdSRTJHTJ_HLDpJE LGEU]GEUHSETHTJRHLDd8QEIJdH[GddGGEHJQEHyGETJRIFDFSIHJQEUJRfS_FgHZJ_HdJFnFJEHwJeRfIJEFDEFJEHTJRH8RQFQIWVJEH[RGEJHdDRHJIHUJdSEUJE^HpzRHTQJ mQEdGVEJRHTJIHJVJ_DdQUJEHm_eQRJx`SdJdIHJQEQUJHeDRdD_JEFDRQIWVJHyGETJReRQbQdJUQJEHTSRWVnSIJFnJE^HDEHTJRJEHeJdfVRSEUHnSRHPJQFHTJR [GdGEQDdVJRRIWVDpFH]JQEJHwJUQJRSEUHQ_HpJREJEHHGETGEHhJ_DdIHUJTDWVFHVfFFJg ZQJHjQdQFfReRfIJEnHTJRHZJSFIWVJEHQ_HwJQWVHTJRHjQFFJHdDRHIWVGEHEDWVHOSI8RSWVHTJIHmRIFJEHfJdF]RQJUIHnSHmETJHUJUDEUJEgHZJRHbJRndJQpJdFJ fQTJRIFDETHTJRH]dJQEJEH]DQIJRdQWVJEHeDREQIGEHbGEHIQEUHZDGH8RDWVHQ_HcJSJRHTJRHDEIFzR_JETJEH`DeDEJRHnSID__JEgHZQJIJHmeQIGTJHdSRTJHQE TJ_HmRdJ8EQI8JRQWVFHZJRHcdQJUJRHbGEHIQEUFDSHpJIFUJVDdFJE^HTJEHTQJH_JQIFJEH\JEEfdJRHTJRHfJQ_DRJRHwJeS8dQ]HUJdJIJEHVD8JEHTzRpFJEg MEHTJEHndDEnQUJRH`DVRJEHVDFFJHIQWVHTQJHwJQWVIdJVRHbGEHTJEHdQdVJd_QEQIWVJEH9GRSRFJQdJEHIWVEJddH8JpRJQFHSETHUJdfVRFJHTJ_HeJEJRDdQIIQ_G IWVQDEUH[DQIWVJ]HSETHIJQEJRH[SG_QEFDEUxOR_JJHQEFJEIQbJHOSI8QdTSEUIVQdpJgH9GRz8JRUJVJETHIFDETHTQJIJHIFRDFJUQIWVJH[GGeJRDFQGEHSEFJRHTJ_ oJpJVdHTJIHeJEJRDdIHbGEHyJJW]FgHOdIHTQJHNDFQGEDdIGnQDdQIFJEHIQWVHhJTGWVHpzRHJQEJHJEUJHOddQDEnH_QFH`DeDEHJEFIWVQJTJEHSETHTQJHpJREgIFdQWVJE {EFJRFDEJEHTJIHJEEGHDSpURSETHQVRJRH]RQJUJRQIWVJEHoRDbGSRHUJdQIIJR_DvJEHnSHlmVRJEDRQJREYHJR]dfRFJE^HdSRTJEHTQJHoJnQJVSEUJEHnSR WVQEJIQIWVJEHNDFQGEDdRJUQJRSEU^HTQJHIQWVHDSIHNDE]QEUHQEHTQJHSEnSUfEUdQWVJHJDEUFIJxjJFRGeGdJHIWVSEU]QEUHD8UJIJFnFHVDFFJHSETHJEUIFJE [GEFD]FHnSHTJEH{yOHepdJUFJ^HhfVHD8UJ8RGWVJEg NDWVHTJRHjDWVFJRURJQpSEUHjDGHPJTGEUIHFDFHIQWVHTQJHoGEEJRHwJeS8dQ]H8JIGETJRIHIWVdJRH_QFHTJRHOEJR]JEESEUHTJRH]G__SEQIFQIWVJE 9Gd]IRJeS8dQ]gHmIHdDRHbGRHDddJ_HTJ_HTQedG_DFQIWVJEHeJIWVQW]HSETHTJRHeRGpSETJEHHDETJI]JEEFEQIHTJRHoGFIWVDpFJRHmRdQEHfQW]JRFHSETH[GERDT
yJQFnHnSHbJRTDE]JE^HTDvHfJIFTJSFIWVdDETHIQWVHnSHJQEJRHRJDdQIFQIWVJEHmQEIWVfFnSEUHTJIHQ__JEIJEH\GFJEFQDdIHTQJIJIHJRdDWVJETJEHeQUDEFJE TSRWVRDEUgH9GEHIJQEJRHCVQEDx9QIQFJH]JVRFJHTJRHTD_DdQUJHoSETJI]DEndJRH[SRFHeJGRUH[QJIQEUJRH_QFHTJ_HbGEHbQJdJEH8JdfWVJdFJEHOSIIeRSWV nSRzW]qHlMWVHIDUJHESRHCVQED^HCVQED^HCVQEDXY LJd_SFHyWV_QTFH8JdQJIHQEHIJQEJRHwJUQJRSEUInJQFHTQJHQV_HJQUJEJHIFDDFI_fEEQIWVJHfJQFIQWVF^HDdIHJRHQEHTJRHO8UJIWVQJTJEVJQFHTJIHPVGEUEDEVDQ TJEH]DS_HEGWVHbJRIFfETdQWVJEHKSvJRSEUJEHTJIHVDd8HUJdfV_FJEHleRGvJEHyFJSJR_DEEIYHDSp_JR]ID_HdDSIWVFJgHLJd_SFH[GVdHdQJTJRS_HdQJv IQWVHTSRWVHTDIH\RGFJIFUJIWVRJQHTJRHQ8JFxHG88|HEQWVFHVQETJRE^HIJQEJEHyFDDFI8JISWVHQ_HwJQWVHTJRHjQFFJHTSRWVHJQEJEHO8IFJWVJRHQEHTQJHOSFGEG_J wJUQGEHQ8JFHD8nSRSETJEHSETHTJEHmR8JEHjDGHPJTGEUIH_QFHTJ_H\RDU_DFQI_SIHnSH8JUJUEJE^HTJRHQVEHWVDRD]FJRQIQJRFJg fGRDSpHIQWVHTQJHDEHyQEGeVG8QJHURJEnJETJHO8EJQUSEUHnSRzW]pzVRJEHdfvF^HTQJHQ__JRHdQJTJRHQEHTJEHwJTJEHTJSFIWVJRH\GdQFQ]JRHSETHQEHTJE [GdS_EJEHTJSFIWVJRH`GSREDdQIFJEHDSp]G__F^HQIFHIWVdJRHnSHJR]dfRJEgHoSETJI]DEndJRHyWVRgTJRHVfFFJHIQWVHD_HdQJ8IFJEHz8JRHTDIHHQJpJRbJR8GF _GTJREJRHfDppJEI|IFJ_JHDEHTQJH9Gd]I8JpRJQSEUIDR_JJHRJIGdSFHVQEdJUUJIJFnF^HD8JRHJRH]GEEFJHIJQEJHGVEJVQEHUJIeDEEFJEHoJnQJVSEUJEHnSR OT_QEQIFRDFQGEHeJGRUJHfgHoSIVIHEQWVFHSE8JURJEnFHIFRDeDnQJRJEg yJQEJHNDWVpGdUJRQEHOEUJdDHjJR]JdHVQEUJUJEHVSdTQUFJHTJRHleGdQFQWDdHWGRRJWFEJIIY^HdQJHIQJHbGEHfDIVQEUFGEHbGRUJUJ8JEHdDRgHyQJHbJRIfS_FJ ]JQEJHeJdJUJEVJQF^HTJEHRGFJEHjDETDRQEJEHbGEH\J]QEUHQEIHeJdQIIJEHnSHRJTJE^HIQJH_QFHJRVG8JEJ_HPJQUJpQEUJRHDSpHTQJHmQEVDdFSEUHTJ_G]RDFQIWVJR SETHVS_DEQFfRJRHNGR_JEHnSHbJRdJQIJE^HTJEJEHTQJHTJSFIWVJHZQedG_DFQJHQEHDETJRJE^HdJQFHI]DETDdgIJRJEHcfddJEHESRHUJRQEUJHoJTJSFSEU IWVJE]FJgHZQJH[DEndJRQEHpzVdFJHIQWVHJQEJRHldJRFJGRQJEFQJRFJEHOSvJEeGdQFQ]YHbJRepdQWVFJFHSETHdDRHIQWVHGppJE8DRHEQWVFH8JdSvF^HTDvHDSvJRVDd8HTJI EGRTDFdDEFQIWVJEH[SdFSR]RJQIJIHJQEJHwJQVJHdQRFIWVDpFdQWVHSETH_DWVFeGdQFQIWVHDSpIFRJ8JETJRHlyWVdJddJEdfETJRYHz8JRHUDEnHDETJRJ UJIJddIWVDpFdQWVJH[RQFJRQJEHSETHRDTQFQGEJEHbJRpzUJE^HS_HTJEHcGRFIWVRQFFHSETHTDIHmRIFDR]JEHQVRJRH9gd]JRHnSHpGRWQJRJEg O_HoJQIeQJdHCVQEDIHGppJE8DRFHIQWVH_QFH8JFRz8dQWVJRHZJSFdQWV]JQF^HQEHdJdWVJ_HOSI_DvHTJEHmSRGefJREHSETHO_JRQ]DEJREHTDIHUJIWVQWVFdQWVJ oJdSvFIJQEHD8VDETJEHUJ]G__JEHQIFgHZQJHcJVdTQDHUEGIJHTJIH\GdQFGdGUJEHcS]S|D_DHbG_HlmETHGpHLQIFGR|YHdDRHDSpHDddnSHpRSWVF8DRJEHoGTJE UJpDddJEgHyGH8JUJUEJFHTQJHdJIFdQWVJHfJdFHTJ_HeVfEG_JEDdJEHOSpIFQJUHCVQEDIHQEHTJEHwDEUHTJRHndJQFJEHfJdF_DWVFH_QFHJQEJ_HeJ_QIWVHDSI ORRGUDEnHSETHjQvUSEIFgHNGWVHVDdFJEHDddnSHbQJdJHlmKeJRFJEYHDEHTJRH9GRIFJddSEUHpJIF^HIQJHVfFFJEHJIH8JQHTJEHh^LHjQddQDRTJEHOEUJVgRQUJEHTJRHLDEx wDIIJH_QFHJQEJRHSEFJRJEFdQW]JdFJE^HDddJEpDddIHnS_H\dDUQDFHdJIFdQWVJRHmRRSEUJEIWVDpFJEH8JpfVQUFJEHjJEIWVVJQFIUDFFSEUHnSHFSEgHOSpHTJRHDETJRJE yJQFJHJRnJSUFHTQJHJKedGIQbJHZ|ED_Q]HCVQEDIHdDWVIJETJHcSRWVF^HhDHTQJHOVESEUHTJIHJQUJEJEHwzW]pDddIHQEHSEJRFRfUdQWVJHjQFFJd_fvQU]JQFg {EFJRHTJEHmeQUGEJEHTJRHdJFnFJEHWVQEJIQIWVJEHjDETIWVSxZ|EDHIFQJHVDFFJHTDIHwJQWVHTJRHjQFFJHTJEHOEIWVdSvHDEHTQJHjGTJREJHbJReDvF^HJRdDU dfVRJETHJQEJRHPdQIWVJEeVDIJHbGEHhbbH8QIHhbH`DVRJEHJQEJRHFRDUQIWVJEHZJ]DTJEngHZJRHZRDWVJEFVRGEHVDFFJHIQWVHTJ_HfDVEHVQEUJUJ8JE^HTJR SEz8JRFRJppdQWVJHjQFFJdeSE]FHTJRHfJdFHnSHIJQEgHZSRWVHTQJIJHyJd8IFz8JRIWVfFnSEUHUJ8dJETJF^HbJRIfS_FJHCVQEDHTQJHdfEUIFHpfddQUJHOEeDIISEUHIJQEJR UJIJddIWVDpFdQWVJEHSETHeRGTS]FQbJEH[DeDnQFfFJEHDEHTQJHQETSIFRQJddJHwJbGdSFQGE^HdfVRJETHTDIHQ_eJRQDdJH`DeDEHTQJHjJQhQxmREJSJRSEUHJQEdJQFJFJ^HTQJ JIHQV_HJRdDS8FJ^HTJEHdJQvJEHLJUJ_GEQDd_fWVFJEHTJIHDSIUJVJETJEHEJSEnJVEFJEH`DVRVSETJRFIHbGEHUdJQWVHnSHUdJQWVHnSH8JUJUEJEg
[GEpSnQSIHSETHTQJHOSp]dfRSEU {_HTQJHSEUJVJSJRdQWVJHoJTJSFSEUHTJIHfDETJdIHnSH8JURJQpJE^HTJEHTQJHmR8JEHjDGHPJTGEUIHEDWVHTJ_HO8dJ8JEHTQJIJIHUJEQDdJEHSET pzRWVFJRdQWVJEHwJbGdSFQGEfRIHbGddnGUJE^H8JTDRpHJIHJQEJIHwzW]8dQW]I^HTJRHz8JRH_JVRJRJH`DVRnJVEFJHVQEDSIRJQWVFgHyJd8IFHnS_HPJQFeSE]FHQVRJR FQJpIFJEHmREQJTRQUSEU^HDdIHTQJHUJdDdFQUJHHDET_DIIJHndQIWVJEHyVDEUVDQHSETH{RS_GQHTJEH8JUJVRdQWVJEHOSpFJQdSEUID8IQWVFJEHTJRHJSRGefQIWVJE [GdGEQDd_fWVFJHVQdpxHSETHdJVRdGIHDSIUJdQJpJRFHIWVQJE^HVDFFJHIQWVH8JQHTQJIJRHdQ__JdETJEHoJbgd]JRSEUI_DIIJHEQJ_DdIHQRUJETJQEJHcGR_HbGE jQETJRdJRFQU]JQFI]G_edJKHJQEUJIFJddF^HhJEJ_HeJpzVdHUJEJFQIWVJRH{EFJRdJUJEVJQF^HTDIHTJEHSE8JpDEUJEJEHSETH]GEIFRS]FQbJEH{_UDEUH_QFH_DEWV DETJRJEH9gd]JRIWVDpFJEHTJRHlZRQFFJEHfJdFYH_QFHIWVQJRHSEz8JRdQETdQWVJEH9GR8JVDdFJEH8JdDIFJFgHyJd8IFHQEHTJEHOSUJEHTJIHVSEUJRdJQTJETJE WVQEJIQIWVJEHwQ]IWVD]SdQIHQEHTJEHQEFJREDFQGEDdJEH[GEnJIIQGEJEHD_HLSDEUeSH8dQJ8HTJRHdJQvJHlDQeDEYH}HIGH_DWVFxHSETHRJQWVFS_IFRGFnJETHJR DSpFRJFJEH_GWVFJH}HJQEHSEUJIWVdQppJEJRHoDR8DRg NGWVHQ_H`DVRHhica^HDdIHQWVHnS_HJRIFJEHjDdH_QFHGppQnQJddJRHmRdDS8EQIHTQJHdDEUJHyFRJW]JHndQIWVJEH\J]QEUHSETH[DEFGEHQ_HmQIJE8DVEdDUUGE 8JRJQIFJ^HdSRTJHTJ_HdQv8JUQJRQUJEHOSIdfETJRHJQEHyWVDSIeQJdHUJ8GFJE^HTJIIJEHJRTRzW]JETJHI|_8GdQIWVJHoJTJSFSEUHIQWVHJRIFHQEHhzEUIFJR 9JRUDEUJEVJQFHQEHbGddJ_H{_pDEUHGppJE8DRFJgHZQJHURGvJHeRGdJFDRQIWVJH[SdFSRRJbGdSFQGEHdDRHnSHhJEJ_HPJQFeSE]FHD8UJpdDSF^HD8JRHIQJH8JIFQ__FJ Q__JRHEGWVHTJEHwJUQJRSEUI]SRIg MEHyVDEUVDQHVDFFJHSEIJRHGppQnQJddJRHoJUdJQFJRHUdJQWVHD_HDUHTJRHOE]SEpFHSEIHnSHhJEJ_H]dJQEJEH\DR]HD_HLSDEUeSxcdSvHUJpzVRF^HTJIIJE PSUDEUHnSRHPJQFHTJRHQEFJREDFQGEDdJEH[GEnJIIQGEHDEUJ8dQWVHTSRWVHJQEHyWVQdTHbJRIeJRRFHdDRqHlLSETJEHSETHCVQEJIJEHbJR8GFJEYgHM_HLQEFJRURSET TJRHeRzEDEdDUJHJRVG8JEHIQWVHTQJHdSWVFQUJEHjDSJRdJR]JHTJRHoDE]JEHSETHeJIWVfpFIVfSIJRHTJIHloSETYHnSHhJEJRHeG_egIJEH[SdQIIJ^HdQJHIQJHESR TDIH8RQFQIWVJHm_eQRJHQEHJQEHeDDRHLDSeFIFfTFJEHOIQJEIHVQEFJRdDIIJEHVDFgHO_HpRzVJEHjGRUJEHVDFFJEHdQRHTGRFHJQEJHz8JRdQJUJETHfdFdQWVJHwQJUJHbGE e|_EDIFJEHUJpQd_F^HTQJH}HTDIH]GEnJEFRQJRFJHeJIQWVFHTJRHDSpUJVJETJEHyGEEJHnSUJdDETF^HUDEnHQEHodDSHUJ]dJQTJFH}HTQJHnQR]SdfRHdDEUID_JE^ 8JIWVdgRJRQIWVHSETHdJQVJHbGddHdQR]JETJEHoJdJUSEUJEHTJIHDQHCVQHDSIpzVRFJEgHZQJIJHHJQ8JIz8SEUJEHdDRJEHDSIHpJREIFJRHWVQEJIQIWVJR 9JRUDEUJEVJQFHz8JRdQJpJRFgHyQJHdDRJEHTJ_HSRDdFJEHFDGQIFQIWVJEHyFRJ8JEHEDWVHdDEUJ_HHJ8JEHSETHLDR_GEQJHJEFdQJVJEHSETHdSRTJEHbG_ TRgVEJETJEHwV|FV_SIHTJRHL|_EJHlZJRHlIFJEHQIFHRGFYHSEFJR_DdFg ZQJIJRHRQS_eVUJIDEUHQIFHVJSFJHIJdFID_JRdJQIJHDSIHTJ_HOEUJ8GFHRJbGdSFQGEfRJRHWVQEJIQIWVJRHjSIQ]HbJRIWVdSETJEgHZQJHJVJ_DdQUJE RSFn8SRUJEHTJIHdJIFdQWVJEH[DeQFDdQI_SIHDEHTJRH{pJRpRGEFHTJIHoSET^HTQJHIJQEJRnJQFHDddJIHnSH8JVJRRIWVJEHIWVQJEJE^HIGddFJH_DEHVJSFJ^HEDWVHTJ_ pQJ8JRVDpFJEHOSI8DSHJQEJRH_GEIFRgIJE^HpDIFHpSRWVFJRRJUJETJEHy]|dQEJHDSpHTJRHQEIHjJJRHUJFRQJ8JEJEHLDd8QEIJdH\STGEU^HDSIHIWVdQETJdETJRHLgVJ 8JFRDWVFJEgHZQJHLGWVVfSIJRHbGEHJQEIFHIQETHDSpHTQJHZQ_JEIQGEHJQEJIHyeQJd8DS]DIFJEIHUJIWVRS_epFg NDWVHRJdDFQbH]SRnJRH{EFJR8RJWVSEUHpQETJFHCVQEDHdQJTJRHnSHhJEJ_HJRVD8JEJEHwDEUHnSRzW]^HTJRHQV_HIJQFHbQJRH`DVRFDSIJETJEHnSIFJVFgHlHD CVQEJHedSIHbQJQddJHGSJHdYVQIFGQRJY^HpGR_SdQJRFJHCVDRdJIHTJHeDSddJH}HlySWVJHTQJHfQIIJEIWVDpFH8QIHVQEHEDWVHCVQEDXH}HSFdS8HJdHYQd_HVDFFDHpQHyQEY^HVJQvF JIHQEHTJRHi8JRdQJpJRSEUHTJIH\RGeVJFJEHjGVD__JTgHPSHTJIIJEHHJ8nJQFJEHVfFFJH_DEHJQEJHJEFIeRJWVJETJHUJQIFdQWVJHoJRJQWVJRSEUHbJRUJ8dQWVHQ_ WVRQIFdQWVJEHO8JETdDETHUJISWVFg ZQJH\feIFJHTJIHjQFFJdDdFJRIHdDRJEHIQWVHTJRHoJTJSFSEUHTQJIJIHUJVJQ_EQIbGddJEHM_eJRQS_IH8JdSvFgHM__JRHdQJTJRHVDFFJEHIQJHTJEH9JRISWV SEFJREG__JE^HTSRWVHTQJHmEFIJETSEUH]QRWVdQWVJRHm_QIIfRJHDEHTJEHLGpHbGEH\J]QEU^HdGHTD_DdIHTQJH_GEUGdQIWVJHJSDExZ|EDIFQJHRJIQTQJRFJ^HJQE
ozETEQIHUJUJEHTQJHRDIDEFJHOSI8RJQFSEUHTJRHQIdD_QIWVJEHlcSFSVDFYHnSHIWV_QJTJE^HTQJHIQWVHTJIHeRD8JIHCVRQIFQH8J_fWVFQUFHVDFFJEgHyWVGEHTJVEFJ IQWVHTJRHSEDSpVDdFID_JHmRG8JRSEUIRQFFHTJRHjSIJd_DEJEHRSETHS_HTDIHjQFFJd_JJR^HhDH8QIHEDWVHPJEFRDdDIQJEHDSIgHZQJHoJ_zVSEUJEHTJIHLJQdQUJE yFSVdIHIQETHDddJID_FHUJIWVJQFJRFgHZJRHIFDSEJETJHl]nQTJEFH8dQJ8HQEHIJQEJRH[JEEFEQIHTJRH8dzVJETJEHPQbQdQIDFQGEHndQIWVJEHTJEHyFRg_JEHLGDEUHLG SETHJDEUFIJ]QDEUHQ_HdJIJEFdQWVJEHDSpHTQJHS_IFRQFFJEJEHSETHJKFRDbDUDEFJEHwJQIJIWVQdTJRSEUJEHjDRWGH\GdGIHDEUJdQJIJEg mQEJHdQR]dQWVJH9JR8QETSEUHndQIWVJEHTJ_HyFJddbJRFRJFJRHCVRQIFQHQEHwG_HSETHTJ_HWVQEJIQIWVJEHLQ__JdIIGVEHQEH\J]QEUH]D_HJRIFHnSIFDETJ^HDdI TJRH`JISQFJEGRTJEHIJQEJHVGWVUJ8QdTJFJEHm_QIIfRJHz8JRHjDWDGHQEHTQJH9JR8GFJEJHyFDTFHJEFIDETFJgHNGWVHVJSFJHUQ8FHTQJHyFJREdDRFJHTJI QFDdQJEQIWVJEH\DFJRIHwQWWQH}HbGEHTJRH]GdGIIDdJEHyQdVGSJFFJHTJRHWVQEJIQIWVJEHLDSeFIFDTFHpDIFHJRTRzW]FH}H[SETJHbG_HoJ_zVJEHTJRHyGWQJFDIH`JIS^ DSpHTJ_HfJUJHJQUJEJR^HnS_DdHDIFRGEG_QIWVJRHfQIIJEIWVDpFHwDEUHSETHOEIJVJEHQEHJQEJRHJKGFQIWVJEH{_UJ8SEUHbGEHLgpdQEUJE^HcJdTVJRRJE^ [SRFQIDEJEHSETHmSESWVJEHnSHpQETJEg jDEWVJHbGEHQVEJE^HIGHTJRH\DFJRHyWVDddHDSIH[gdE^HdSRTJEH_QFHTJEHVgWVIFJEHfzRTJEHTJIHjDETDRQEDFIHDSIUJnJQWVEJFgHyGUDRHDSpHTJ_HeJ8QJF TJRH[RQJUI]SEIFHISWVFJHIQWVHTQJHeJIJddIWVDpFH`JISHSEJEF8JVRdQWVHnSH_DWVJE^HQETJ_HIQJHQVRJ_HeDIFbGd]^HTDIHTDIH\SdbJRHdfEUIFHJRpSETJEHVDFFJ^ TDIHeQJvJEHbGEH[DEGEJEH8JQ8RDWVFJ^HS_HTQJHNG_DTJEbgd]JRHTJRHEgRTdQWVJEHyFJeeJH8JIQJUJEHnSH]gEEJE^HTQJHIQWVHdQJTJRHJQE_DdHDEIWVQW]FJE^ TJEHZRDWVJEFVRGEHnSHJRG8JREHSETHTJRHJRdDV_JETJEHjQEUxZ|EDIFQJHTJEHGTJIIFGvHnSHbJRIJFnJEg {_HTQJH{_UJ8SEUHTJIH\DeIFJIHpzRHQVRJHjQIIQGEIDR8JQFHnSHUJdQEEJE^HVDFFJEHTQJH`zEUJRHTJIHMUEDFQSIHbGEHHG|GdDHJQEHz8JRDSIHeGIQFQbJI^HpDIF QT|ddQIWVJIHoQdTHbG_HwJQWVHTJRHjQFFJHJEFdGRpJEgHMVRHmVRUJQnHdDRHDSpHTQJHoJ]JVRSEUHTJIH[DQIJRIHbGEHCVQEDHnS_H]DFVGdQIWVJEHedDS8JEHUJRQWVFJF^ QEHTJRHOEEDV_J^HTDvHTQJHLQEdJETSEUHIJQEJRHnDVddGIJEH{EFJRFDEJEHnSRHoGFIWVDpFHTJIH[RJSnJIHTDEEHESRHEGWVHcRDUJHJQEJIHQ_eJRQDdJEHmRdDIIJI dfRJg ZQJHyGWQJFDIH`JISHVDFHbJRndJQpJdFHbJRISWVF^HTQJHIFDRRJE^HTGU_DFQIWVJEH9GRIFJddSEUJEHTJRHwJEDQIIDEWJefeIFJHnSHTSRWV8RJWVJEHSET QEI8JIGETJRJHTJEHOVEJE]SdF^HTJRHpzRHTDIH]GEpSnQDEQIWVJHCVQEDHSEbJRnQWVF8DRHdDR^HEDWVH8JdfVRFJRH]DISQIFQIWVJRHjJFVGTJH_QFHTJRHVJQdQUJE 9JRJVRSEUHTJRH[DFVGdQnQFfFHQEHmQE]dDEUHnSH8RQEUJEgHZQJH`JISQFJEHIQETHEQWVFHESRHDEHTJRHfJQUJRSEUHwG_IHUJIWVJQFJRF^HTQJIJRHJKGFQIWVJE O8IWVdJQpSEUHEDWVnSUJ8JEgHMVRHUDEnJIH[GEnJeFHdDRH_gUdQWVJRdJQIJHbJRpJVdFgHO8UJIJVJEHbGEHJQEJRHwJQVJHVGVJRHfzRTJEFRfUJR^HTQJHIQWVHFDSpJE dQJvJE^HbJRVDRRFJHTJRHLGpHQEHTJRHSEdDETJd8DRJEHwQUQTQFfFHTJRH]GEpSnQDEQIWVJEHyQFFJEdJVRJHSETHQVRJRHeJTDEFQIWVJEHwQFJEgHyJd8IFHTQJHjDETIWVSx mRG8JRJR^HTQJHIQWV^H]DS_HTJ_HoDR8DRJEFS_HJEFRGEEJE^HDSpHTJ_HZRDWVJEFVRGEHJQERQWVFJFJE^HSEFJRdDRpJEHIQWVHTJEHSRDdFJEHwJUJdEHTJIHjJQIFJRI [GEU^HhDHeRD]FQnQJRFJEHIJQEJH9GRIWVRQpFJEH_QFHTJ_HmQpJRHbGEHNJGeV|FJEg ZQJHoJRQWVFJHTJRH`JISQFJEHVDFFJEHTQJHefeIFdQWVJHwQFJEx[GEURJUDFQGEHEQWVFHS_UJIFQ__FgHM_H`DVRHhc~aHIJFnFJH\DeIFHoJEJTQ]FHZM9gH_QFHIJQEJ_ ]DFJUGRQIWVJEHmTQ]FHJQEJEHyWVdSvIFRQWVHSEFJRHTQJIJHpJREgIFdQWVJHO]]SdFSRDFQGEHSETHbJR8DSFJHTD_QFH_gUdQWVJRdJQIJHJQEJHJQE_DdQUJ jQIIQGEQJRSEUIWVDEWJHTJRHeJIWVQWVFJgH\DRDTGKJRdJQIJHpDETJEHTQJHpRG__JEH\DFRJIHJQpRQUJ^H8JUJQIFJRFJHHJVRJRHSEFJRHQVRJEHIWVfRpIFJE QTJGdGUQIWVJEHeJUEJRE^HTJEH]QRWVJEpJQETdQWVJEH\VQdGIGeVJEHSETHZQWVFJREHTJRHOSp]dfRSEUgHMEHQVRJ_HoJ_zVJE^HD8JETdfETQIWVJIHMEFJRJIIJHpzR TDIHwJQWVHTJRHjQFFJHnSHdJW]JE^HyS8bJEFQGEJEHSETHOEJR]JEESEUHpzRHQVRJHJEFIDUSEUIbGddJHfFQU]JQFHQEH\J]QEUHnSHUJdQEEJE^HdDRHTDIHwJQWVHTJR jDETIWVSx[DQIJR^HTDIH8JRJQFIHQ_HDWVFnJVEFJEH`DVRVSETJRFH_QFHbQJdJEH[JEEnJQWVJEHTJIH9JRpDddIHSETHTJRHUJQIFQUJEHy]dJRGIJH8JVDpFJFHdDR^HbGE TJEHJSRGefQIWVJEHeJQIFdQWVJEHDdIHJQEJHQTJDdJHeJdJVRFJERJeS8dQ]HedDFGEQIWVJEHPSIWVEQFFIH8JIWVRQJ8JEHdGRTJEg ZJRH[DQIJRHFVRGEFJHdJTQUdQWVHDdIHdGVddGddJETJIHy|_8GdHJRTJEFRzW]FJRHZJIeGFQJHz8JRHQVR^HdfVRJETHTJRHyFDETHTJRH[RQJUJR^HTJRHQ_HIefFpJSTDdJE mSRGeDHVGVJI^HpDIFHJK]dSIQbJIHOEIJVJEHUJEGv^H8JQHTJEHygVEJEHTJIHLQ__JdIHDSpHTJRHSEFJRIFJEHeJIJddIWVDpFIIFSpJHRDEUQJRFJHSETHIQWVH]JQEJRdJQ OWVFSEUH8JQHhJEJEHeJ8QdTJFJEHJRpRJSFJ^HTQJHTQJHVgWVIFJHOSFGRQFfFHQEEJVDFFJEgHZDvHQEH\J]QEUHTDIHmRdDEUJEH_DETDRQEDdJRHfzRTJEHDEHTDI oJIFJVJEHbGEHeVQdGIGeVQIWVJE^HhDHdQFJRDRQIWVJEHmKD_QEDHUJ8SETJEHdDR^HTQJH}HFVJGRJFQIWVHnS_QETJIFH}HhJTJ_H8JUD8FJEH{EFJRFDEHTJIH[DQIJRI GppJEIFDETJE^HTDvHTQJHwDEUGRTESEUHTJRHVGVJEH9JRdDdFSEUHJQEJRHljJRQFG]RDFQJYHJEFIeRDWV^HbGEHTJRHQ_HTD_DdQUJEHmSRGeDH]DS_HhJ_DETHnS FRfS_JEHdDUFJ^HIWVzRFJHnSIfFndQWVJHoJUJQIFJRSEUg ZQJHOSp]dfRSEUHTJIHDWVFnJVEFJEH`DVRVSETJRFIHJEFTJW]FJHJQEHSFGeQIWVJIHyeQJUJd8QdTHQVRJRHJQUJEJEHfSEIWVbGRIFJddSEUJEHQEHhJEJ_HpJREJE M_eJRQS_HTJIHlIFJEI^HTDIHmSRGeDH8JRJQFIH_QFHIJQEJEH\GRnJddDEpQUSRJEHJEFnzW]FJgHZQJHjGTJHTJRHlWVQEGQIJRQJIYHJRpRJSFJHTQJHLgpJHTJI O8JETdDETJIgHcRQJTRQWVHTJRHeRGvJHdQJvHQ_H\DR]HbGEHyDEIIGSWQHJQEJEHWVQEJIQIWVJEH\DbQddGEHJRRQWVFJE^HSETHTQJH\VQdGIGeVJEH}HHJQ8EQn^H9GdFDQRJ SETHc[EJdGEHDEHTJRHyeQFnJH}HdDRJEHTJIHHG8JIHbGddHpzRHJQEJHDIQDFQIWVJHyFDDFIpGR_^HTQJHcRQJTpJRFQU]JQF^HGdJRDEn^HUJQIFQUJHLDR_GEQJHSETHbGRHDddJ_ TQJH\RQGRQFfFHTJRHeJ8QdTJFJEHnSHUDRDEFQJRJEHIWVQJEgH[GEpSnQSI^HTJRHDdFJHHJVR_JQIFJR^HTJRHpzEpVSETJRFH`DVRJHbGRHCVRQIFSIHTJEHygVEJEHTJI ZRDWVJEHTJEHfJUHTJIHmQE]dDEUIHndQIWVJEHLQ__JdHSETHmRTJHUJdQJIJEHVDFFJ^HdSRTJHDEHVJRbGRRDUJETJRHyFJddJHQEHTDIH\DEFVJGEHTJRHlHS_Q\RJIY JQEUJRJQVFg fQJHedgFndQWVHSETHSEJR8QFFdQWVHTJRH9JRpDddHJQEJIHM_eJRQS_IHD8dDSpJEH]DEE^HTDIHIQWVHJ8JEHEGWVHDdIHPJEFRS_HTJIH{EQbJRIS_IH8JFRDWVFJFJ^HTJ_ DddJHDETJRJEH_JVRHGTJRH_QETJRH8DR8DRQIWVJEH\GFJEFDFJEHIQWVHESRH_QFHeJIWVJE]JEHSETHLSdTQUSEUJEHDdIH9DIDddJEHEfVJREH]GEEFJE^HdSRTJHSEFJR TJRHIefFJEHIQEUxHGTJRHjDETIWVSxZ|EDIFQJHDSpHUJRDTJnSHJKJ_edDRQIWVJHfJQIJHbGRUJpzVRFgHNGWVHQ_H`DVRHhciLHVDFFJHTJRHdJFnFJHURGvJH[DQIJR IQDEHHGEUHbGEHTJ_HoGFIWVDpFJRHyJQEJRH8RQFQIWVJEHjDhJIFfFHHGRTHjDWDRFEJ|^HTJRHJQEHpzRH8JQTJHyJQFJEHbGRFJQdVDpFJIHLDETJdID8]G__JE DSIVDETJdEHdGddFJ^HbJRdDEUF^HTDvHJRHIQWVHTJ_HTJ_zFQUJETJEHwQFSDdHTJIH[GFDS^HTJ_HTRJQ_DdQUJEHNQJTJR]EQJEH_QFHhJdJQdQUHTRJQ_DdQUJR 9JR8JSUSEUH8QIHnS_HoGTJE^HSEFJRdzRpJ^HdDIHTJRHoJDSpFRDUFJHHGETGEIHRJIGdSFHD8dJVEFJg {EFJRHIQDEHHGEUHVDFFJHTQJHdDEUJH[JFFJH]DQIJRdQWVJRHLJRRdQWV]JQFHEGWVHJQE_DdHJQEJEHLgVJeSE]FHJRRJQWVFgHmRHVDFFJHTQJHVJSFQUJEHOSFGEG_JE wJUQGEJEHTJRH9Gd]IRJeS8dQ]H}HTQJHjGEUGdJQ^HlIFxSR]JHIFDEHSETHbGRHDddJ_HDSWVHQ8JFH}HSEFJRHTQJHOSFGRQFfFHIJQEJIHZRDWVJEFVRGEJIHUJ8RDWVFg yJWVnQUH`DVRJHdDEUHVDFFJHJRHRJUQJRF^HSETHJIHdDRHQV_HUJdSEUJE^HIJQEJEH{EFJRFDEJEHhJEJHbJRVJJRJETJEHozRUJR]RQJUJHSETHoDSJREDSpIFfETJHnS JRIeDRJE^HTQJHTQJHeRSETpJIFJEHTJIHyFDDFIUJ8fSTJIHQEHbQJRH`DVRFDSIJETJEHQ__JRHdQJTJRHJRIWVzFFJRFHVDFFJEgHOdIHcGdUJHTQJIJRHcRQJTJEIeJRQGTJ SETHJQEJRH]dSUJEHOURDReGdQFQ]HVDFFJHIQWVHTQJHoJbgd]JRSEUHCVQEDIHbGEHhbHjQddQGEJEHjJEIWVJEHDSpHTDIHZGeeJdFJ^HLbbHjQddQGEJE^HbJR_JVRFgHPSR UdJQWVJEHPJQFHbJRpzUFJHmEUdDETHz8JRHUDEnJHDWVFHjQddQGEJEHmQEdGVEJRg ZJEEGWVHdDRHTJRHNQJTJRUDEUHbGReRGURD__QJRF^HdQJHTJRHpRDEngIQIWVJHyWVRQpFIFJddJRHSETH\GdQFQ]JRHOdDQEH\J|RJpQFFJHQEHIJQEJ_HoSWVHHYm_eQRJ Q__G8QdJH]ZDIHSE8JdJUdQWVJHwJQWV^HdJEQUJHfGWVJEHbGRHTJEHFRDUQIWVJEHmRJQUEQIIJEHD_H\dDFnHTJIHLQ__dQIWVJEHcRQJTJEIHQ_H`DVRHhiSiHIWVRQJ8g [DQIJRHIQDEHHGEUHVDFFJH}HbGEHdDEUJRHLJRRIWVDpFHJR_DFFJFH}HDSpHTJEHLQ__JdIFVRGEHbJRnQWVFJFgHmRHdDRHIQWVH8JQHDddJRHedGRQJHIJQEJIHwJUES_IHdGVd 8JdSvFHUJdGRTJE^HTDvHJRHJQEJ_HbJR]RSIFJFJE^HQEHIFJRQdJRHSETHQ__G8QdJRHRDTQFQGEHJRIFDRRFJEHy|IFJ_HbJRVDpFJFH8dQJ8^HdfVRJETHmSRGeDHQEHJQEJR \VDIJHSEUJIFz_JRHQETSIFRQJddJRHwJbGdSFQGEHSETHIFRDVdJETJRHcGRFIWVRQFFIUdfS8QU]JQFHTDbGEIFzR_FJgHZDIHOSpJQEDETJRFRJppJEHbGEHndJQHIG SEFJRIWVQJTdQWVJEH[SdFSRJEHdDRHbGEHbGREVJRJQEHJEFIWVQJTJEg mIHUJVgRFJH8QIHTDVQEHnS_HfJIJEHCVQEDI^HTDvHJIHUDEnHDSpHoJVDRRSEUHDSIUJRQWVFJFHdDRgH[GEpSnQSIHVDFFJH8JQHTJRHZJ]RJFQJRSEUHIJQEJI
eJIJddIWVDpFI_GTJddI^HTDIH}HpJREHbGEHDddJRHjJFDeV|IQ]H}HDSpHTDIHVDR_GEQIWVJHPSID__JEdJ8JEHTJRHjJEIWVJEHSEFJRHpJIFUJpzUFJEHOSFGRQFfFJE SETHwJUJdEHDSIUJRQWVFJFHdDR^HIFJFIHEDWVHRzW]dfRFIHUJ8dQW]F^HDSpHJQEJHdJUJETfRJH9JRUDEUJEVJQF^HDSpHTDIHleGdTJEJHPJQFDdFJRYHTJRH_|FVQIWVJE Z|EDIFQJEHyVDEUHSETHPVGS^HTJRJEH\JRpJ]FQGEHJIHdQJTJRVJRnSIFJddJEHUDdFg ZDIHO8JETdDETHVQEUJUJEH}HDEHJRIFJRHyFJddJHTDIH[gEQURJQWVHmEUdDET^HTDIH_QFHTJRHeRGFJIFDEFQIWVJEHwJpGR_DFQGE^H_QFHTJ_HOSI8DSHIJQEJR dJdFJRG8JRETJEHcdGFFJ^HTJ_HOSp]G__JEHJQEJRHT|ED_QIWVJEHmFVQ]HbGEHLDETJdHSETHoJRJQWVJRSEUHIQWVHIWVGEHDSpHJQEJHFJWVEQIWVJHwJbGdSFQGE nS8JdJUFJH}H8dQW]FJHUJ8DEEFHDSpHTQJHPS]SEpFHSETHdQT_JFJHIQWVHTJRHmRpzddSEUHIJQEJRHlURJDFHJKeJWFDFQGEIYg NQJ_DdIHVDFHIQWVHTJRHdJIFdQWVJHM_eJRQDdQI_SIHIGHI]RSeJddGIHSETHRDppUQJRQUHTJ]SbRQJRFHdQJH8JQHTJ_HleQS_]RQJUHhSLigHZDIHdJIJEFdQWVJHPQJd HGETGEIHdDRHJI^HTJEHUJdDdFQUJEHWVQEJIQIWVJEHjDR]FHpzRHTJEHSEUJVJ__FJEHM_eGRFHSETH[GEIS_HTJIHwDSIWVUQpFJIHnSHgppEJE^HTDIHTQJH8RQFQIWVJ mDIFHMETQDHCG_eDE|HDSpHQVRJEH\dDEFDUJEHQEHMETQJEHeRGTSnQJRFJgHZJEHJEUdQIWVJEHLfETdJREHUQEUHJIHTDRS_^HTDIHLDETJdITJpQnQF^HTDIHbGRHDddJ_ TSRWVHTJEHOE]DSpHbGEHWVQEJIQIWVJ_HJJHSETHWVQEJIQIWVJRHyJQTJHJEFIFDETHSETHIQWVHdDSpJETHnSH{EUSEIFJEHTJRHoRQFJEHbJRURgvJRFJ^HTDE]HTJI FgTdQWVJEH[G_eJEIDFQGEIUJIWVfpFJIHDSInSUdJQWVJEg oJQHTQJIJRHeJdJUJEVJQFHdDRHTJEHygVEJEHTJIHLQ__JdIHnS_HJRIFJEHjDdHQVRJHURGFJI]JH_QdQFfRQIWVJH{EFJRdJUJEVJQFHbGRHOSUJEHUJpzVRFHdGRTJEg O8JRHJIHIGddFJHJQEHbGddJIH`DVRVSETJRFHbJRUJVJE^HJVJHTQJH]G__SEQIFQIWVJEH{_IFzRndJR^HDSpHTQJHRJbGdSFQGEfRJHME8RSEIFHQVRJR 9Gd]I8JpRJQSEUIDR_JJHUJIFzFnF^HTQJHdJFnFJEHyeSRJEHTQJIJRH{EFJRhGWVSEUHDSIdgIWVFJEg yWVEJddJRHEGWVHDdIHTJRHO8IFSRnHQEHJQEJHIWVfETdQWVJH{EFJRdzRpQU]JQF^HTQJHTSRWVHTQJHeRJSJdHTJRHhDeDEQIWVJEHoJIDFnSEUHbGRHOSI8RSWVHTJI PdJQFJEHfJdF]RQJUJIHQEIH{EJRFRfUdQWVJHUJIFJQUJRFHdSRTJ^HVDFHIQWVHTDEEHTDIHpSd_QEDEFJHfQJTJRJRIFDR]JEHTJIHwJQWVJIHTJRHjQFFJHbGddnGUJEgHZJR fJIFJEH_DUHbGRHDddJ_HTQJHJR8DR_SEUIdGIJH]G__SEQIFQIWVJH|RDEEJQHSETHTJRJEHpzRWVFJRdQWVJHLJ]DFG_8JEHTJRHwJbGdSFQGEHjDGHPJTGEUIHQE mRQEEJRSEUH8JVDdFJEgHZQJHjDIIJHTJRHVJSFJHdJ8JETJEHCVQEJIJEH8JdJRFJFHTQJIJEHRDTQ]DdJEH{_8RSWVHDdIHeGIQFQbJHUJIWVQWVFdQWVJHHJQIFSEUgHjDG IWVSpHTQJH9GRDSIIJFnSEUJEHTDpzR^HTDvHTQJHbGEHQV_HUJURzETJFJ^HbGEHZJEUHZQDGeQEUHURzETdQWVHRJpGR_QJRFJH9Gd]IRJeS8dQ]HIQWVHEJSJRTQEUI DEIWVQW]F^HTQJH9JRJQEQUFJEHyFDDFJEHbGEHO_JRQ]DHDSIHQVRJRHVJUJ_GEQDdJEHwGddJHDdIHJQEnQUHbJR8dQJ8JEJHySeJR_DWVFHnSHbJRTRfEUJEg fJRHIQWVHVJSFJHz8JRHTQJHOEEJKQGEHSETHedJQWVIWVDdFSEUHQ8JFIHTSRWVH\J]QEUHJEFRzIFJF^HIGddFJHnSTJ_H8JTJE]JE^HTDvHTQJHIQEUxZ|EDIFQJHIWVGE Q_H`DVRHhcabHQVRH\RGFJ]FGRDFHz8JRHTDIHZDWVHTJRHfJdFHbJRVfEUFJgHfJEEHQEHTJRHcGdUJHTJRH8QnDRRJHjgEWVIIFDDFHTJRHZDdDQHHD_DHEQWVFHTJ_ 8RQFQIWVJEHm_eQRJHDEUJUdQJTJRFHdSRTJ^HTDIHz8JRHTJEHLQ_DdD|DHEDWVHNGRTJEHDSIURQpp^HIGHdDRHTDIHdJTQUdQWVHTJ_HmRdDV_JEHhJEJIHlURJDFHUD_JY nSHbJRTDE]JE^HTDIHIQWVHHGETGEHSETHyDE]FH\JFJRI8SRUHQEHIWVdQETJdETJRHedJFIWVJRVgVJHS_HTQJH[GEFRGddJHPJEFRDdDIQJEIHdQJpJRFJEg
lZJ_H9Gd]JHTQJEJEXY HVDID^HQ_H`SEQHabbc O_HcdSUedDFnHHVDIDHdDRFJFHJQEJHeRSeeJHbGEHjfTWVJEHQEHTJRHFQ8JFQIWVJEHyWVzRnJEFRDWVF^HS_HTJEHwJQIJETJE^HTQJHDSIHZQDEHDE]G__JE^HJQEJE dJQvJEHyJQTJEIWVDdHS_HTJEHLDdIHnSHdQETJEgHmIHQIFHTQJHUdJQWVJHeJIFJ^H_QFHTJRHDSWVHTJRHZDdDQHHD_DHIJQEJHefIFJHSETHeJIeRfWVIeDRFEJRHJVRFgHMWV EJV_JHDddJRTQEUIHDE^HTDvHTQJHbGEHQV_Hz8JRRJQWVFJHeD8JHQEH]GIF8DRJRJRHISDdQFfFHUJdG8JEHQIFgH`JTJEpDddIHIGddFJH8JQHTJEHOE]g__dQEUJEHTJR mQETRSW]HJRdJW]FHdJRTJE^HTDvHTQJHOSFGEG_JHwJUQGEHQ8JFHDSWVHSEFJRHTJRHyGSbJRfEQFfFHTJRHCVQEJIQIWVJEH9Gd]IRJeS8dQ]HQVRJHJQUJEJEHwQFJEHSET oRfSWVJH8JQ8JVfdFg OdIHoJUdJQFJRQEHSETHZGd_JFIWVJRQEHVDFHIQWVH_QRHQEHZQDEHJQEJHhSEUJ^HDFFRD]FQbJHCVQEJIQEHED_JEIHcDEU|QHQDEHnSUJIJddFgHjQFHQVRJ_H_GTQIWV UJIWVEQFFJEJEH\DUJE]GepHSETHTJRHVJddJEHmdpJE8JQEVDSFHbJR]gReJRFHIQJHTQJHhSEUJ^HJVRUJQnQUJHOSpIFJQUJRUJEJRDFQGE^HTQJHIQWVHQEHUJdfVdFJ_ jDETDRQEHDSITRzW]FgH{_HQVRJHZJSFIWVxHSETHmEUdQIWV]JEEFEQIIJHQIFHJIHdJQTJRHEQWVFHIGHUSFH8JIFJddF^HD8JRHIJVRHIWVEJddH]G__FHndQIWVJEHSEIH}H8JQ DddJRHZQIFDEn^HTQJHIQJHdDVRFH}HIeGEFDEJHy|_eDFVQJHDSpg {RIeRzEUdQWVHVDFFJHQWVHTQJHwJQIJHEDWVHHVDIDH_QFHhJEJRHmQIJE8DVEHnSRzW]dJUJEHdGddJE^HTQJHTQJHWVQEJIQIWVJEH\dDEJRH}HDddJEHmQEdfETJE DSIdfETQIWVJRHmKeJRFJEHnS_HRGFnH}HJRpGdURJQWVHz8JRHJQEJHdDEUJH\JR_DpRGIFxyFRJW]JHQEHTQJHLgVJHbGEHbbbHjJFJREHUJpzVRFHVDFFJE^HJQEJ HJQIFSEU^HTQJHTQJHoSETJI8DVETQRJ]FQGEHIWVdJRdQWVHJR8RQEUJEH]gEEFJgHO8JRHz8JRHTDIHO8FJQd^HTDIHQWVHpzRH_QWVHDddJQEHRJIJRbQJRFHVDFFJ^HS_HEQWVF TJ_HpRgVdQWVJEHHfR_HWVQEJIQIWVJRHcD_QdQJEHDSIUJIJFnFHnSHIJQE^HdDRHGppJE8DRHQEH\J]QEUHDETJRdJQFQUHbJRpzUFHdGRTJEgHZGWVHQWVHIGddFJ^HdQJH_DE _QRHnSIQWVJRFJ^H8JQH_JQEJRHwzW]]JVRHbGEHHVDIDHEDWVH\J]QEUHTQJIJIHfSETJRdJR]HTJRHJWVEQ]H8JESFnJEH]gEEJEg ZQJHjJVRnDVdHTJRHOE]g__dQEUJHdDRJEHWVQEJIQIWVJHGSRQIFJE^HdQJHIQWVHDEHQVRJ_HlSFpQFHJR]JEEJEHdQJvgHyQJHJRdDR8JEHUdJQWVHEDWVHOE]SEpFHJQEJ OEnDVdHyDSJRIFGpp8JVfdFJRHDSIHodJWVHSETHVQJdFJEHTQJHNDIJHDEHTJRJEH\dDIFQ]gppESEUgHMEH~bbbHjJFJRHLgVJHdDRHTDIH]JQEJHz8JRpdzIIQUJ 9GR8JSUSEU^HdQJHQWVHIJd8IFHDEH_JQEJ_HJRIWVdJRFJEHOF_JEHpJIFIFJddJgHZQJHFQ8JFQIWVJHLDSeFIFDTFHHVDIDHQIFH_QRHEQWVFHSE8J]DEEFgHMWVHVDFFJHIQJ 8JRJQFIHQ_HyG__JRHhiShHTDE]HJQEJRHIJdFJEJEHeJEJV_QUSEUHDSpISWVJEH]gEEJEHSETHdDRHTD_DdIHbGRH_JQEJ_HO8pdSUHDSIHCVJEUTSHDSpH_JQEJ LgVJEFDSUdQWV]JQFHUJFJIFJFHdGRTJEg MEH]EDeeHTRJQvQUH`DVRJEHVDFHIQWVHDSpHTJ_HZDWVHTJRHfJdFHIGH_DEWVJIHbJRfETJRFgHOEIFJddJHTJRHoDRDW]J^HTQJHJQEIFHDdIHOQReGRFHTQJEFJ^HQIFHJQEJ hJEJRHJdJUDEFJEHHSKSIDEdDUJEHJEFIFDETJE^H_QFHTJEJEHQEndQIWVJEHDddJHURgvJRJEHWVQEJIQIWVJEH\RGbQEnIFfTFJHDSIUJIFDFFJFHIQETgHZQJHOEpDVRFHnS SEIJRJRHTD_DdQUJEHoJVDSISEU^HJQEJRH8JIWVJQTJEJEHLJR8JRUJ^HVDFFJHQWVHEQWVFHIGHdDEUJHQEHmRQEEJRSEUgHfQRH8JESFnJEHTQJHbQJRIeSRQUJ^HeJRpJ]FJ OSFG8DVEHDSpHJQEJRHyFRJW]JHbGEHz8JRHIQJ8nQUH[QdG_JFJREg fDRH_QRHHVDIDHIJQEJRnJQFHDdIHJQEJH8JURJEnFJHOEID__dSEUHEQJTRQUHUJTSW]FJRHfGVEIFfFFJEHQEHUJ8zVRJETJ_HO8IFDETHbGEHTJ_HUJdDdFQUJE^ DddJIH8JVJRRIWVJETJEH\GFDdDx\DdDIFHJRIWVQJEJE^HIGHVD8JEHIQWVHhJFnFH_GTJREJHPdJW]8DSFJEH8QIHQEHTQJHSE_QFFJd8DRJHNDWV8DRIWVDpFHTQJIJRHQ__JR EGWVHQ_eGEQJRJETJEHoSRUHTJIHZDdDQHHD_DHUJTRfEUFgHwQEUIS_HVJRRIWVFHUJIWVfpFQUJIHRJQ8JE^HSETH_QRHpfddFHDSp^HTDvHTQJHWVQEJIQIWVJEHMEIWVRQpFJE QEHURgvJRJEHPJQWVJEHDSIUJpzVRFHIQETHDdIHTQJHTDRSEFJRH8JpQETdQWVJEHLQEdJQIJHQEHFQ8JFQIWVJRHyeRDWVJg jJQEJRHeJpfVRFQEHcDEU|QHVDFHIQWVHUdJQWVHEDWVHTJRHOE]SEpFHJQEHFQ8JFQIWVJRHwJQIJpzVRJRHnSUJIJddFgHZJIIJEHeJIQWVFHQIFHDSpURSETHTJRHRDSVJE LgVJEdDUJHQEHfVEdQWVHRgFdQWVJRHoRGEnJpDR8JHUJFgEF^HdQJH_DEHIQJH8JQHTJEHQETQDEQIWVJEHOETJEbgd]JREHQEHHDFJQED_JRQ]DHDEFRQppFgHmRHIFJddFHIQWVHDdI fDEUHCVS]HbGRHSETHTRzW]FHIQWVHQEH]DS_HbJRIFfETdQWVJ_HmEUdQIWVHDSIgHZQJHCVQEJIQEHSETHTJRHQ8JFJRHbJR]JVRJEHVgpdQWVH_QFJQEDETJR^HD8JR QRUJETdQJHIezRJHQWV^HTDvHIQJHndJQHbJRIWVQJTJEJEHfJdFJEHDEUJVgRJEg ZDIHHSKSIVGFJdH`QEUWVJEU^HQEHTJ_HQWVHJQEHISeJR_GTJREJI^HJFdDIHSEeJRIgEdQWVHdQR]JETJIHPQ__JRH8JnQJVJH}HDSpHTJ_HURGvJE
cdDWV8QdTIWVQR_H]DEEHQWVHIGUDR^HdQJHQWVHIGpGRFHEDWVeRzpJ^HDSIdfETQIWVJHyJETJR^HTDRSEFJRHCNN^HJ_epDEUJEH}^HQIFHdJQTJRHD8IJQFIHbGEHTJRHURGvJE ZSRWVUDEUIIFRDvJHQEHJQEJ_HLQEFJRVGpHUJdJUJEgHjQFHJFdDIHfJV_SFHJRQEEJRJHQWVH_QWVHDEH_JQEJH]DRUJH{EFJR]SEpFHTJIH`DVRJIHhiSh^HTQJHdJQF DSvJRVDd8HbGEHHVDIDHdDU^HbGRHTJRJEHoRzIFSEUHhJTGWVHTJRHbQJRnJVEHyFGW]dJR]JHVGVJHdJQvJH\DdDIFHTJIHeGFF]gEQUIHQEHJQEID_JRHLJRRdQWV]JQFHdQJ JQEJHJKGFQIWVJHeRDdI8SRUHDSIHTJ_HjGRUJEEJ8JdHDSpFDSWVFJg mIH8JIFJVFH]JQEHPdJQpJd^HTDvHIQWVHTQJH\J]QEUJRH9Gd]IRJeS8dQ]^HEDWVTJ_HTJRH9JRdzIFSEUIdDVEHTJRHRGFJEH[SdFSRRJbGdSFQGEHTQJH_JQIFJEH[dgIFJR nJRIFgRF^HTQJHRGFHUJdDETJFJEHHD_DIHDSpHURDSID_JHfJQIJHUJGSfdFHSETHSEJRIJFndQWVJH[dJQEGTQJEHbJREQWVFJFHVDFFJ^HnSHJQEJRHUJdDdFQUJE fQJTJRDSp8DSxHSETHjGTJREQIQJRSEUIdJQIFSEUHDSpUJRDppFHVDFgHmIHdJVJEHndDRHz8JRDddHTQJHRGFJEHcDVEJEHjDGHPJTGEUIH_QFHTJEHpzEpHyFJREJE^HD8JR DSWVHTQJH8SEFJEHSWVpJFnJE^HTQJ^HDEHdDEUJEHyFDEUJEH8JpJIFQUF^HTSRWVHQVRJHIFfETQUJHoJdJUSEUHQ_HfQETHTQJH8STTVQIFQIWVJEHeJ8JFIpGR_JdE SEDSpVgRdQWVHdQJTJRVGdJEHIGddJEH}HfVEdQWV^HdQJHTDIH8JQHTJEHeJ8JFI_zVdJEHQEHTJEHLfETJEHTJRHedfS8QUJEHTJRHcDddHQIFH}^HRDUJEHVGWVHDSpg HVDIDHQIFHnSHJQEJRHRJWVFH8DEDdJEHyFDTFHUJdGRTJEgHZQJHQE8RzEIFQUJHcRg__QU]JQFHIWVJQEFHIQWVHDSpHTDIHJEUHbJRIWVDWVFJdFJHDdFJHeDIIJEUJdQRRHnS ]GEnJEFRQJRJEgHOSIHQV_HdJSWVFJFHTDIHUGdTJEJHZDWVHTJIHJVRdzRTQUIFJEHFQ8JFQIWVJEHLJQdQUFS_I^HTJIHhLbbH`DVRJHDdFJEH`G]VDEUxJ_eJdI^HdQJHJQE jDUEJFHVJRDSI^HTJRHdJQFJRVQEHyWVDRJEHbGEH\QdUJREHDEnQJVFgHZQJHpRG__JEH`zEUJRHeDSFD_DIHVD8JEH_JQIFH8JDWVFdQWVJHmEFpJRESEUJEHnSRzW]UJdJUF SETH}HQ__JRHdQJTJRHdDEUHDSpHTJ_HoGTJEHDSIUJIFRJW]FH}HIQWVH_zVIJdQUHpGRF8JdJUFgHMEHFQJpJRHmVRpSRWVFHS_]RJQIJEHIQJHTQJH_|IFQIWVJHfJQVJIFfFFJ QEHSEJR_zTdQWVJRH]gReJRdQWVJRHOEIFRJEUSEUg MWVH8QEHdGVdHDEHTQJIJ_HDUHTJRHJQEnQUJHmSRGefJR^HTJRHQEHTJ_HHD8|RQEFVHbGEHOdFfRJEHbJRdJQdFHSETHIQWVHbGEHTJEHSEnfVdQUJEHZDRIFJddSEUJE bGEHoSTTVDIHSETHoGTVQIDFFbDIH8JJQETRSW]JEHdfvFgHZQJHQ__JRHEGWVHnDVdRJQWVJE^HQEHIFfETQUJRHoJdJUSEUH8JpQETdQWVJEHjgEWVJHEJV_JEH]JQEJ NGFQnHbGEH_QR^HSETHQWVH8JdJUJH_QWVHdDSFH9GRIWVRQpFHQ_HJEFUJUJEUJIJFnFJEH{VRnJQUJRIQEEHS_HTQJHyFDFSJHTJIHoSTTVDHyVD]|D_SEQgHZDI [SEIFdJR]HDSIHeSRJ_HeGdTHVDFFJHTJRHi8JRdQJpJRSEUHnSpGdUJHTQJH\RQEnJIIQEHfJEHCVJEUHDSIHTJRHWVQEJIQIWVJEHDEUxZ|EDIFQJHDdI LGWVnJQFIUJIWVJE]H_QFHIQWVHUJpzVRF^HDdIHIQJHTJEHTD_DdQUJEHFQ8JFQIWVJEH[gEQUHyGEUFIJEHeD_eGHVJQRDFJFJg MWVHJRdfVEJHTQJIJHmeQIGTJHEQWVF^HS_H_QWVHJQEJRHDSIpzVRdQWVJEHQ8JFxoJIWVRJQ8SEUHnSHdQT_JE^HnSHTJRH_QRHTQJH9GRDSIIJFnSEUJEHpJVdJE^ IGETJREHdJQdHTQJHVJSFQUJEHjDWVFVD8JRHQEH\J]QEUH_QFHTQJIJRHmVJIWVdQJvSEUHQVRJEHOEIeRSWVHDSpHTQJHmQEbJRdJQ8SEUHQ8JFIHQEHTQJH9Gd]IRJeS8dQ] 8JURzETJEgHZQJHoJIQFnEDV_J^HTQJH[DQIJRHIQDEHHGEUHS_HTQJHjQFFJHTJIHDWVFnJVEFJEH`DVRVSETJRFIHbGREDV_^HJRIWVJQEFHTDEJ8JEHDdIHJQEHdJEQUJR RG_DEFQIWVJI^HTDpzRHD8JRHRJDdeGdQFQIWVHUJdQWVFQUJIHORUS_JEFHpzRHTQJHmRdJQFJRSEUHTJIHwJQWVIHTJRHjQFFJH8QIHnS_HLQ_DdD|Dg MEHTJEHnDVddGIJEHoSTJEHSETHHfTJEHQ_H{_]RJQIHTJIH`G]VDEUxJ_eJdIHdJRTJEH]QFIWVQUJHZJbGFQGEDdQJEHpJQdUJ8GFJEgHZQJHPJQF^HDdIHTJ_ wJQIJETJEHEGWVHJWVFJHDE]DIHbJR]DSpFHdSRTJE^HURJddHUJpfR8FJHZDRIFJddSEUJEHDSIHhJEJRHpSRWVFJRRJUJETJEHZf_GEJEdJdF^HTQJHpzRHTQJHFDEFRQIWVJ cGR_HTJIHFQ8JFQIWVJEHoSTTVQI_SIH8JnJQWVEJETHQIF^HUJVgRFHdfEUIFHTJRH9JRUDEUJEVJQFHDEgHjQRHpfddFHTQJHi8JRnDVdHbGEHLDExCVQEJIJEHDSp^HTQJHEQWVF ESRHDEHQVRJRHVJddJEHLDSFpDR8JHDdIHJFVEQIWVJHcRJ_T]gReJRHnSHJR]JEEJEHIQETg NDFzRdQWVH_DEUJdFHJIHEQWVFHDEH\GdQnQIFJEHQEHURDIURzEJRH{EQpGR_H_QFHTJEH8RJQFJEHUGdTJEJEHRJIIJEgHMEHJRTRzW]JETJRHPDVdH8JdJUJEHIQWVHTQJ WVQEJIQIWVJEHGSRQIFJEHQEHTJRHpzRHIQJHJKGFQIWVJEH{_dJdFgHyQJHeVGFGURDeVQJRJEH_QETJIFJEIHIGHQEFJEIQbHSETHSEDSpVgRdQWVHdQJHhDeDEQIWVJ cJRQJERJQIJETJgH{EFJRHTJRHczVRSEUHQVRJRHeRSeeJEdJQFJRHVzFJEHIQJHIQWVHndDR^HIQWVHQEHTJEH8QnDRRJEHLJQdQUFz_JREHSEnQJ_dQWVHDSpnSpzVRJE^HD8JR QRUJETdQJH8JG8DWVFJEHIQJHTQJHbG_HeQepJdIFSR_^HTJRHJQIQUJEHLgVJEdSpFHSETHJQEJRH]DRUJEHmKQIFJEnHUJnJQWVEJFJEHmQEVJQ_QIWVJEH_QFHJQEJ_ DEUJ8GRJEJEHeJpzVdH]SdFSRJddJRHi8JRdJUJEVJQF^H_QFHfVEdQWVJ_HO8IFDETHdQJHdJQvJHO_JRQ]DEJRHTQJHz8JRdJ8JETJEHMETQDEJRHQEHQVRJEHwJIJRbDFJEg OSWVHTQJHUJIWVJQFJHcDEU|QHIFJVFHTJRHpRJ_TJEH{_UJ8SEUHRJWVFHbJRIFfETEQIdGIHUJUJEz8JR^HSETHQWVHVD8JHbGEHQVRH}HD8UJIJVJEHbGEHJQEHeDDR \RGeDUDETDIeRzWVJE^HTQJHTQJHJEUJH9JR8SETJEVJQFHTJRHOSFGEG_JEHwJUQGEH_QFHTJRH8RzTJRdQWVJEH9Gd]IRJeS8dQ]H8JFGEJEH}H]JQEJRdJQ 8JpRQJTQUJETJHOSI]SEpFHz8JRHHDETHSETHHJSFJHJRVDdFJEH]gEEJEg fQJHbQJdJHmQEdGVEJRHVJSFJHQEHHVDIDHdJ8JE^HdDSFJFJHJQEJH_JQEJRHJRIFJEHcRDUJEgHMEHTJEHwJQIJpzVRJREHdDRHTQJHPDVdHbGEHabbHbbbHjJEIWVJE DEUJUJ8JE^HD8JRHTDIHJEFIeRQWVFHEQWVFHTJEHOSIIDUJEH_JQEJRHoJUdJQFJRgHZJRHQ8JFJRHfDEUHCVS]HEJEEFHTQJHPDVdH~bHbbb^HdQRTHhJTGWVHbGEHcDEU|Q 8JdJVRF^HTQJHoJbgd]JRSEUHHVDIDIH8JnQppJRJHIQWVHDSpHhbbHbbbgHfDEUHCVS]HpQETJFHpzRHTQJIJEHfQTJRIeRSWVHJQEJHVQEFJRURzETQUJHSETHDSpIWVdSvRJQWVJ mR]dfRSEUqHlZDIH_DUHIFQ__JEY^HRfS_FHJRHJQE^HlJIHdJ8JEHVQJRHJ8JEHESRH~bHbbbHQ8JFJR^HD8JRHTbHbbbHCVQEJIJEgYHoJQHTQJIJRHeJdJUJEVJQFHIFJddJ QWVHpJIF^HTDvHTQJH8JQTJEHIQWVHESRH_QFHURGvJEHyWVdQJRQU]JQFJEHDSpHCVQEJIQIWVHbJRIFfETQUJEH]gEEJE^HIGHTDvHIQJH_JQIFHDSpHQVRHRJdDFQbH8JIWVJQTJEJI mEUdQIWVbG]D8SdDRHnSRzW]URJQpJE^HS_H_QFJQEDETJRHnSH]G__SEQnQJRJEg OEHRGFUJdDETJFJEHHD_DIHpJVdFHJIHEQWVFHQ_HyFDTF8QdTgH9GRHDddJ_HIQETHIQJHnSHLSETJRFJEHQEHTJEHRQJIQUJEHjGEDIFJRQJEHD_HyFDTFRDETHnSHpQETJEg NQWVFHdJQFHTDbGEHJEFpJREFHVDFHTQJH9Gd]I8JpRJQSEUIDR_JJHJQEJHQ_HWVQEJIQIWVJEHyFQdHUJ8DSFJ^HTSRWVHVGVJIHjDSJRdJR]HUJIWVzFnFJH[DIJREJ JRRQWVFJFgHZSRWVHTDIHmQEUDEUIFGRHJR]JEEJHQWVHTJEHJQEnQUJEHWVQEJIQIWVJEHyWVRQpFnSU^HTJEHQWVHnSHJEFnQppJREHbJR_DUgHMWVHVDFFJHQVEHDdIHQFJdH_JQEJR JRIFJEHcJREIJVTG]S_JEFDFQGEHz8JRHTDIHCVQEDHTJRHIefFJEH[SdFSRRJbGdSFQGEHbJRdJETJF^HSETHTQJHHGISEUHTJIHeRGvJEH9GRIQFnJETJE^HTQJHTJR 9Gd]I8JpRJQSEUIDR_JJHQ__JRHEGWVHTQJHwQWVFSEUHdJQIF^HdDSFJFqHlZJ_H9Gd]JHTQJEJEXY OSWVHQEHHVDIDHdJRTJEHS_pDEURJQWVJH9GR8JRJQFSEUJEHUJFRGppJEHpzRHTQJHld|_eQDTJ^HTQJHQ_HOSUSIFHabbSHIFDFFpQETJEHSETHQEHQ8JFHTSRWVHJQEJE IeJ]FD]SdfRJEHLgVJeSE]FHJQEUJdJQFJFHdJRTJEHIGddgHZDIHld|_eQIWVJHcJSJRHQIFHTDEEHFDFIfWVdQWVHbGEHJQEJRHoJRUIFJQUJR_DEEIWVDpFHDSpHTJEHeQepJd TJIHjGSEFHmbJRJIFHUJFRDUJEHdGRTJEgHM_HUJdJUJEFdQWVJEHeJIeRfWVH_QFHIeRDWV]SETQUJEHcSE]FQGEfRJEHTJIHwJQIJ8zRGI^HTQJH_QRHDEIGEIFJEHTSRWV UJIWVEQJUJdFJHmdJUDEnHSETHJQEJEHQEHCVQEDHUDEnHSEUJdgVEdQWVJEHjDEUJdHDEHwJIeJ]FHbGRH_JQEJ_HVGVJEHOdFJRHSEDEUJEJV_HDSppDddJE^HJRpDVRJ QWV^H_QFHdJdWVHSEUJIFz_J_HeJdFSEUI8JTzRpEQI^H_QFHdJdWVHeDFRQGFQIWVJ_HRQS_eVUJpzVdHTQJHjDIIJHTJRHLDExCVQEJIJEH}HUDEnHSED8VfEUQUHbGE QVRJRHeGdQFQIWVJEHOSIRQWVFSEUH}HTQJIJ_HIeGRFdQWVJEHfJdFJRJQUEQIHSETHTJ_HJRdDRFJFJEHwJUJEHDEHeGdT_JTDQddJEHJEFUJUJEpQJ8JREgHOSpHTQJ ld|_eQDTJHbGEH\J]QEUH]GEnJEFRQJRFJHIQWVH8JRJQFIHTJRHUJ8DddFJHmVRUJQnHTJIHM_eJRQS_Ig
yeJRRnGEJHD_HLQ_DdD|D ZDIHJQUJEFdQWVJHPQJdH_JQEJRHQ8JFRJQIJHQEHTQJIJ_HyG__JRHabbcHUQdFHTJRHmR]SETSEUHTJRHEJSJEH9JR8QETSEUIdJUJ^HTQJHz8JRHTJEHDedJx\DvHQ_ LQ_DdD|DHQEHwQWVFSEUHMETQJEHDSIUJ8DSFHdSRTJEgHMEH\J]QEUHdDRHTQJHwJTJHTDbGE^HTQJHPSUbJR8QETSEU^HTQJHHVDIDHJRRJQWVFHVDF^H8QIHnSRHeRJEnJHTJI JVJ_DdIHSED8VfEUQUJEHczRIFJEFS_IHyQ]]Q_HnSHpzVRJEHSET^HdJEEH_gUdQWV^HJQEJHOdddJFFJRbJR8QETSEUHbGEHOSFG8DVEHSETHyWVQJEJEHQEHwQWVFSEU DSpHTQJHLfpJEHoJEUDdJEI^HnS_DdH[Dd]SFFD^HnSHRJDdQIQJRJEgHmQEHIGdWVHGRUDEQIWVJRH[G__SEQ]DFQGEIIFRDEUH8JIfvJHDSWVHTJEH9GRFJQdHJQEJR FJRRJIFRQIWVJEHRDEIeGRF_gUdQWV]JQF^HTQJHTJEHdDEUdQJRQUJEHSETHJbJEFSJddHeRG8dJ_DFQIWVJEHyJJdJUHTSRWVHTQJHyFRDvJHbGEHjDdDWWDHTRDIFQIWV
bJR]zRnJEHSETHhJTJ_HpRJ_TJEHPSURQppHJEFnQJVJEHdzRTJg ZQJHMETQIWVJH{EQGEHVDFHDSpHTQJIJHWVQEJIQIWVJH\RGURJIIQGEHDEHQVRJRHNGRTURJEnJH8QIdDEUHfSvJRIFHngUJRdQWVHRJDUQJRFgHPdDRHpzVRFHEGWVHJQEJ dQEnQUJHmQIJE8DVEHQEHTDIHLGWVdDETHbGEHZDRhJJdQEUHSETHTJIIJEHJJedDEFDUJE^HdGHJQEIFHTQJHoRQFJEHPSpdSWVFHbGRHTJRHJRTRzW]JETJE jGEISEIWVdzdJHCDdWSFFDIHISWVFJEgHeDEnHSE8JTJE]dQWVHpzRHMETQJEHdfRJHTQJIJHJEUJH9JR]EzepSEUHD8JRHEQWVFgHffVRJETHTQJHfJdFHIQWVHz8JRHTQJ OEEJKQGEHQ8JFIHTSRWVHjDGHPJTGEUHJEFRzIFJFJ^HVDFFJHTQJHQ_HfJIFJEHVGWVbJRJVRFJHjQEQIFJReRfIQTJEFQEHTJRHMETQIWVJEH{EQGE^HMETQRDHeDETVQ^HTQJ GWVFJRHNJVRSI^HGVEJHbQJdHOSpVJ8JEIHTJEH[gEQUHbGEHyQ]]Q_HDSIHIJQEJRH8QnDRRJEHLDSeFIFDTFHeDEUFG]HbJRFRQJ8JEgHyQJHVDFFJHTQJHOSpdJVESEUHTJR TGRFHdJ8JETJEH8STTVQIFQIWVJEHoJbgd]JRSEUHUJUJEHTQJHmQEbJRdJQ8SEUHQEHJQEJEHz8JRdQJUJETHVQETSQIFQIWVJEHyFDDFIbJR8DETHQUEGRQJRFHSETHQEHTJE [dgIFJRE^HTQJHTJRH9JRJVRSEUHeDSFD_DIHUJdJQVFHdDRJE^HQVRJHyGdTDFJEHIFDFQGEQJRFgHMWVHVDFFJH_QWVHeJRIgEdQWVHbGEHTQJIJRH_QdQFfRQIWVJEHl]]SeDFQGE^ TQJHTJRH\RfIJEnHTJRHWVQEJIQIWVJEH9Gd]I8JpRJQSEUIDR_JJHQEHQ8JFHQEHEQWVFIHEDWVIFDET^HQ_HyG__JRHabbTHDEHlRFHSETHyFJddJHz8JRnJSUJEH]gEEJEg mIHUQ8FHpzRHTJEHeJEJRDdIFD8HQEHZJdVQHEGWVHnSIfFndQWVJHeRzETJ^HQEHTQJIJRHSETJSFdQWVHTJpQEQJRFJEHeRJEnRJUQGEHJQEJEHDddnSHJEUJEHyWVSdFJRIWVdSv _QFHTJEHCVQEJIJEHnSHbJR_JQTJEgHNQWVFHESRHQEHyQ]]Q_HVJRRIWVFH{EnSpRQJTJEVJQFH_QFHTJRHoJbGR_SETSEUHTSRWVHTQJHpRJ_TJHoJIDFnSEUgHyzTdQWV TDbGEHQIFHTQJHUJdDdFQUJH[GEFQEJEFDd_DIIJHTJRHMETQIWVJEH{EQGEHESRHTSRWVHJQEJEHIWV_DdJEHJRRQFGRQDdIWVdDSWVHbGEH]EDeeHhbbH[QdG_JFJREHQJpJ _QFHIJQEJEHgIFdQWVIFJEH\RGbQEnJEHSETHJQdIFDDFJEHOIID_^HNDUDdDETHSETHORSEDWVDdH\RDTJIWVHbJR8SETJE^HdGHIJQFH`DVRnJVEFJEHJQEHPSIFDET RJ8JddQIWVJEHOSpRSVRIHUfRFgHczRHDSIdfETQIWVJHwJQIJETJHIQETHTQJIJHJRRQFGRQJEHUJIeJRRFg `JEIJQFIHTJIHJRdfVEFJEH[GRRQTGRIH8JpQETJFHIQWVH8JRJQFIHTQJHNGRTxURJEnJHbGEHoDEUdDTJIWV^HTJIIJEH_SIdQ_QIWVJHoJbgd]JRSEUHDSpHJEUIFJ_ \dDFnHnSHJRIFQW]JEHGTJRHQ_HeDEUJITJdFDHnSHJRFRQE]JEHTRGVFgHyJQFHTJRHleDRFQFQGEYHTJIHyS8]GEFQEJEFIHQ_H`DVRHhi~cHVDFFJHlIFxoJEUDdJEHndDRHIJQEJ 9JRIJd8IFfETQUSEUHbGEH\D]QIFDEHbGddnGUJE^HD8JRHTQJHoDEUdDTJIWVQHIWVzRJEHdJQFJRVQEHFQJpJHwJIIJEFQ_JEFIHUJUJEHTQJHVQETSQIFQIWVJEHmR8pJQETJ bGEHfJIFxoJEUDdJEg U jJQEJHi8JRdDETRJQIJHpzVRFH_QWVHdfEUIHTJRHedJFIWVJR]JFFJEHSETHTJRHUdJQvJETJEHeQepJdHTJIHLQ_DdD|DHnSHTJ_H8JRzV_FJEHHD_Dx[dGIFJRHbGE yVQUDFIJ^HTJIIJEHoJISWVH_QRHhiShHbJRdJQUJRFHdGRTJEHdDRgHMEndQIWVJEHIQETHQEHTJRHUJdDdFQUJE^HIFSpJEpgR_QUHDEUJdJUFJEHJ_eJdDEdDUJHTQJ 9JRdzIFSEUJEHTJRH[SdFSRRJbGdSFQGEHSETHQVRJRHwGFUDRTQIFJEH8JIJQFQUF^HSETHTDIHJR8DSdQWVJH]dgIFJRdQWVJHHJ8JEHTJRHoGEnJEHQIFH}HDSpHTJEHJRIFJE odQW]H}HdQJTJRVJRUJIFJddFgHNQWVFHbGEHSEUJpfVRH8JpQETJFHIQWVHDSWVHVQJRHJQEJHRJIeJ]FUJ8QJFJETJH[DIJREJHTJRH9Gd]I8JpRJQSEUIDR_JJHQE SE_QFFJd8DRJRHNDWV8DRIWVDpFg oRJQFJHOSFG8DVEJEHIWVdfEUJdEHIQWVHndQIWVJEHO8URzETJEHSETHz8JRVfEUJETJEHcJdIdfETJEgHMEHTJEHpdDWVJEHwJUQGEJEHTJIHLGWVdDETJI^HdG IJQEJRnJQFHESRHJD]xHSETHyWVDpVJRTJEHTJRHNG_DTJEHdJQTJFJE^HQIFH_QFHLQdpJHbGEHyFDSTf__JEHOURDRdDETHUJIWVDppJEHdGRTJEgHMEHTJRHRDSVJE yFJeeJHbGEHJQEIFHdJRTJEHhJFnFHeJFRJQTJ^HwDeI^HCQFRSIpRzWVFJHSETHIGUDRHwJQIHDEUJ8DSFgHZJEHJQIQUJEHyFzR_JEH8JUJUEJFH_DEH_QFHTJR OEepdDEnSEUHdJQFHDSIUJTJVEFJRHcGRIFUJ8QJFJgHOSWVHMETSIFRQJDEdDUJEHIQETHDSIHTJ_HIeRgTJEHoGTJEHUJdDWVIJEg mIHJEFIFDETJEHdDEUUJnGUJEJHyFRDvJEIQJTdSEUJEHQEHRJQEHFQ8JFQIWVJ_HyFQd^HSETHz8JRHQVRJEHZfWVJREHdJVJEH}HSEFJRH9JRnQWVFHDSpHTQJH8dSFRGFJ cdDUUJHTJRH9Gd]IRJeS8dQ]H}HTQJH8SEFJEHeJ8JFIpDVEJEHTJIHFQ8JFQIWVJEHedDS8JEIgHjDUHIJQE^HTDvHJIHIQWVHTD8JQHS_HJQEJHDIQDFQIWVJHO8DRFHbGE \GFJ_]QEIWVJEHZgRpJREHVDETJdF^HTQJHdfEUIHTJRH8JdJ8FJEHyFRDvJHEDWVHyVQUDFIJHTJ_HpRJ_TJEHoJISWVJRHTJEHdDWVIJETJEHfGVdIFDETHTJR JQEVJQ_QIWVJEHoJbgd]JRSEUHSETH]SdFSRJddJHLDR_GEQJHndQIWVJEHTJEHwDIIJEHbGRUDS]JdEHIGddJEgHO8JRHGVEJHPdJQpJdHVDFHQEHQ8JFHJQEJHURDETQGIJ OSp8DSdJQIFSEUHIFDFFUJpSETJE^HSETHTQJIJ_HeJ8QRUIbGd]^HTDIHpRzVJRHQEHNGFHSETHLSEUJRHJQEH]z__JRdQWVJIHZDIJQEHpRQIFJFJ^HJQEJHpzRHDddJHIezR8DRJ OEVJ8SEUHQVRJIHHJ8JEIEQbJDSIH8JIWVJRFg l8HTD_QFHTQJHPSIFQ__SEUHTJRHoJbgd]JRSEU^HJQEJHdDWVIJETJHHG|DdQFfFHUJUJEz8JRHTJRH\RGFJ]FGRDFI_DWVFHQEH\J]QEUHJRRJQWVFHdQRT^H8dJQ8F hJTGWVH_JVRHDdIHndJQpJdVDpFgHmIHQIFHhDHESRHJQEJHcRDUJHTJRHPJQF^H8QIHTQJHIefRdQWVJH{R8Jbgd]JRSEUHTSRWVHTQJH_DIIQbJHmQEdDETJRSEUHbGEHLDEx CVQEJIJEHnSRHeQFFGRJI]JEHjQETJRVJQFHRJTSnQJRFHdQRT^HdQJHTDIHQEHTJRHMEEJRJEHjGEUGdJQ^HJ8JEpDddIHJQEJHOSFGEG_JHwJUQGE^HTQJHndQIWVJE jDETIWVSRJQHSETHeG8QHJQEJEHRQJIQUJEHLDd8_GETH8QdTJF^H8JRJQFIHJQEUJFRJFJEHQIFg hiSiHVDFFJHQWVHTQJHTGRFQUJHLDSeFIFDTFHLGVVGFHDSpUJISWVFHSETHJQEQUJHbGd]IFz_dQWVJHZDR8QJFSEUJEHTQJIJIHJQEIFHIGHUJpzRWVFJFJE NG_DTJEbGd]JIHQEHTJRHEDWVHNGRTJEHDSISpJRETJEHRQJIQUJEHeRDIdDETIWVDpFH8JdSETJREH]gEEJEgHOddJH]SdFSRJddJHyWVJQEpgRTJRSEUHFfSIWVFJHEQWVF TDRz8JRHVQEdJU^HTDvHTJRH\RGnJEFIDFnHTJRHRJQERDIIQUJEHjGEUGdJEHDEHTJRHeJID_F8Jbgd]JRSEUHTD_DdIHIWVGEHDSpHIQJ8nJVEH\RGnJEF VJRD8UJISE]JEHdDRg KVEdQWVJIHIFJVFHdGVdHD_HmETJHDSWVHTJEHQ8JFJREH8JbGRgHPdDRHdJRTJEHQ_HJVJ_DdQUJEHyG__JReDdDIFHTJIHZDdDQHHD_DHTQJHnDVddGIJE O88QdTSEUJEHTJIHbJRFRQJ8JEJEHeGFFx[gEQUIHTJ_HpRJ_TJEHoJISWVJRHEQWVFHTJ_GEIFRDFQbHDEUJ8GFJE^HdQJHTDIHEGWVHhiShHTJRHcDddHdDRgHO8JRHTQJ I|_8GdQIWVJHoJTJSFSEUHTQJIJIHlLJQdQUJEH9DFJRIYHpzRHTDIH]SdFSRJddJHi8JRdJ8JE^HTQJH_|IFQIWVJHwJdQUQGIQFfFHSETHTDIHEDFQGEDdJHyJd8IF8JdSvFIJQE IJQEJRHHDETIdJSFJHQIFH8QIHVJSFJHJRVDdFJEHUJ8dQJ8JEHSETHFDSWVFH}HIJd8IFHQ_HeJIeRfWVHTJRHCVQEJIJEH}HQ__JRHdQJTJRHDSpg ZDvHJIHdJEQUJHjGEDFJHEDWVH_JQEJRHO8RJQIJHDSIHHVDIDHnSHUJdDdFFfFQUJEHDEFQWVQEJIQIWVJEHOSIIWVRJQFSEUJEH]G__JEHdzRTJ^HTQJHTJEHedDEn TJRHGd|_eQIWVJEHyeQJdJHbJRTzIFJREHIGddFJE^H]GEEFJHTD_DdIH]JQEHOSvJEIFJVJETJRHJRDVEJEg U jJQEJHJQUJEFdQWVJHwJQIJD8IQWVFHVD8JHQWVHEQWVFHbJRdQR]dQWVJEH]gEEJEgHyzTgIFdQWVHbGEHyVQUDFIJ^HdGH_QWVHJQEHoSTTVDH_QFH\pJRTJ]GepH8JIGETJRI 8JJQETRSW]F^H8JpDVRJEHdQRHTQJHOIeVDdF8DVEHz8JRHTQJHeD8JdSEUHbGEHe|DEUnJH8QIHnSHTJRH]dJQEJEHlRFIWVDpFH[DEU_DRgH9GEHTDHDE^HIGHbJRIQWVJRE _QRH_JQEJHoJFRJSJR^HIJQHTQJHyFRDvJHTSRWVHTJEHpGRWQJRFJEHOSI8DSH]DS_HEGWVHeDIIQJR8DRgHZDRz8JRHVQEDSIHIJQHTQJHPGEJHnS_H_QdQFfRQIWVJE yeJRRUJ8QJFHJR]dfRFHdGRTJEg fDIH8dJQ8FH_QRHDEHM_eRJIIQGEJEHbGEHTQJIJRH]SRnJEHmKeJTQFQGEHmQETRSW]IbGddHdDRJEHTQJH_fWVFQUJEHoSRUJE^HTQJHDSpHIFJQdJEH[dQeeJE^HUDEn DETJRIHDdIHTQJHHD_Dx[dgIFJR^HDSpHJQEJH]RQJUJRQIWVJH9JRUDEUJEVJQFHbJRdQJIJEgHlpFHIQETHTQJHjGEDIFJRQJEHTJRHHD_DIHSETHTQJHcJIFSEUJEHTJR pRzVJRJEHcJSTDdVJRRJEH]DS_HnSHSEFJRIWVJQTJEgHOSWVHVQJRHVDFHTQJH[SdFSRRJbGdSFQGEHeQFFGRJI]JHwSQEJEHVQEFJRdDIIJEg O_HyFRDvJERDETHbJRISWVJHQWVHbJRUJ8dQWVH_QFHTJEHTGRFHDR8JQFJETJEHmQEVJQ_QIWVJEHQEIHeJIeRfWVHnSH]G__JEgHMVRJHdJTJRUJUJR8FJEHeJIQWVFJR bJRIWVgEJEHIQWVHnSHJQEJ_HIFRDVdJETJEHHfWVJdE^HDdIHIQJH_QWVHbJR_SFdQWVHpzRHJQEJEHO_JRQ]DEJRHVDdFJEgHOdIHIGdWVJR^HIGHIezRJHQWV^HUJdFJHQWVHDdIHQVR VJQ_dQWVJRH9JR8zETJFJRHQEHTJRHSEbJR8RzWVdQWVJEHRJSJHTQJIJRHJQEpDWVJEHjJEIWVJEHnSHQVRJ_HUJdQJ8FJEHmKQdx[DQIJRgHyQJH]JEEJEHESRHJQEHJQEnQUJI JEUdQIWVJIHfGRFqHl8|Jx8|JY^HTDIHIQJH_QRHnS_HO8IWVQJTHeDSIJEdGIHEDWVRSpJEgHZQJHORWVQFJ]FSRHTJRHlRFIWVDpFHe|DEUnJHQIFH_GTJREHSETHRJQndGIg ZQJHNDVRSEU^HTQJHTGRFHIJRbQJRFHdQRT^HQIFH]DS_HUJEQJv8DR^HSETHTQJHbG_HfQRFHDEUJeRQJIJEJHlyeRQEUHRGddYHDSIHJD]xcdJQIWVHSEbJRTDSdQWVg
MEH]SdQEDRQIWVJRHLQEIQWVFHdDRHQWVHDSWVHQEHHVDIDHEQWVFHbJRdgVEFHdGRTJEgHM_HOdFIFDTFTQIFRQ]FHbGEHoDR]GRHVDFFJEHdQRHTDIHRJEG__QJRFJ wJIFDSRDEFHlLGSIJHGpHyVD_8VDdDYHDSpUJISWVFgHMEHTJ_HRJdDFQbJEH[G_pGRFHTJRHbJRIWVDWVFJdFJEHLGdnRfS_JHVDFFJHJQEIFHTQJHmdQFJHTJIHHDETJI^HTQJ DTdQUJEHeRGvURSET8JIQFnJRHSETHTQJHnSHVGVJEHfzRTJEHUJdDEUFJEHHD_DI^HUJdJ8FgHM__JRVQEHdDUFJHQWVHJIHTGRF^HTJEHdDETJIz8dQWVJEHJJH_QFHJD]x oSFFJRHdQTJRdQddQU^HD8JRHGVEJHUJISETVJQFdQWVJHcGdUJEHnSHFRQE]JEg OSpHTJ_HpdDWVJEHHDETHVQEUJUJE^HDSpHTJRHwGSFJHEDWVHyQ]]Q_^HVDFH_JQEHFQ8JFQIWVJRHoJUdJQFJRHfDEUHCVS]HDSpHJQEJRHwDIFHQEHJQEJ_HfR_dQWVJE LGpH8JIFDETJEgHMWVHVDFFJHTJEH9JRTDWVF^HJRHdGddFJH_QRHbGRpzVRJE^HTDvH8JQHDddJ_HcGRFIWVRQFFHSETHDddJRHjGTJREQFfF^H_QFHTJEJEH\J]QEUHIJQEHHDETHnS IJUEJEHISWVFJ^HQ__JRHEGWVHJQEJH8RJQFJHyWVQWVFHoDSJREHDEHTQJIJEH9GRnzUJEHESRHUJRQEUJEHOEFJQdHVfFFJEg ZQJHDdFJHofSJRQEHdGVEFJHFDFIfWVdQWVHQEHJQEJ_HRJWVFHJR8fR_dQWVJEHyWVSeeJEgHOSWVHTGRFHdDRH_QRHJEFIeRJWVJETHTJRHHDETJIIQFFJHTJRHJJH_QF JD]xoSFFJRHDSIUJIWVJE]FHdGRTJEgHO8JRHQ_HeJUJEIDFnHnSHTJ_HeJ8RfS^HTDIH_QRHQEHHVDIDHDEUJ8GFJEHdSRTJ^HVDFFJHQEHTQJIJRHJEFdJUJEJEHeJUJET ]JQEJRdJQHyFJRQdQIDFQGEHIFDFFUJpSETJE^HdDIHQEHTJRHcGdUJHhJEJIHi8JdH8JQH_QRHDSIdgIFJ^HTDIHTQJHO_JRQ]DEJRHDdIHljGEFJnS_DIHwDWVJYH8JnJQWVEJE SETHTDIHQEHTQJIJRHfJdFUJUJETHDdIHlwDWVJHTJIHeSRSHwQEeGWVJYHUJdFJEH]gEEFJgHlppJE8DRHdJRTJEHTQJHjJEIWVJE^HTQJHQEHTQJIJRHRDSVJEH{_UJ8SEU QVRJHIWVdJRJHOR8JQFHbJRRQWVFJE^HEQWVFHDdF^HIGHTDvHTQJHjQFFJQdSEUHfDEUHCVS]I^HQWVHIJQHSLH`DVRJHDdF^HpRgVdQWVJH9JRdSETJRSEUHDSIdgIFJ^HDdIHIJQ QVEJEHTQJHmRIWVJQESEUHJQEJIHJKGFQIWVJEHoGTVQIDFFbDH8JUJUEJFg
lO8URSETHTJRHfJQIVJQFY ZJRHPJQFeSE]FHpzRHTJEHIeJ]FD]SdfRJEHOSpRSVRHUJUJEHTQJHWVQEJIQIWVJHoJbGR_SETSEU^HUJUJEHTJEHl]SdFSRJddJEHeJEGnQTY^HdQJHTJRHZDdDQHHD_DHTQJ yQEQIQJRSEUHIJQEJRHLJQ_DFHEJEEF^HTJRHedgFndQWVHz8JRHHVDIDHSETHJQEJHwJQVJHFQ8JFQIWVJRHyQJTdSEUJEHVJRJQE8RDWV^HdDRHUSFHUJdfVdFgHZDI QEFJREDFQGEDdJH[JIIJdFRJQ8JEHUJUJEHJQEJEHVDR_GEQIWVJEHO8dDSpHTJRH\J]QEUJRHld|_eQDTJHdDRHedDE_fvQUHbGR8JRJQFJFHdGRTJEgHmIHUQepJdFJHQEHTJR VfvdQWVJEHeJdDdFInJEJ^HDdIHQEH\DRQIHJQEHeDDRHljJEIWVJERJWVFdJRYHJQEJRH]gReJRdQWVH8JVQETJRFJEHOFVdJFQEHTQJHld|_eQIWVJHcdD__JH8RSFDdHJEFRJQvJE dGddFJEg ZQJHeJdDdFHQEHQ8JFHdDRHbGEHRGFUJdDETJFJEHHD_DIHSETHQVRJEHeJpGdUIdJSFJEHDSIUJUDEUJE^HTQJHDEUJ8dQWVHQ_HND_JEHQVRJRH8STHTVQHIFQIWVJE HJVRJHIQWVHIGdWVJRHi8JRURQppJHVfFFJEHJEFVDdFJEH_zIIJEgH`JTJEpDddIHdDRHTQJHoRDETIWVDFnSEUHWVQEJIQIWVJRHeJIWVfpFJHSETHNQJTJRdDIISEUJE^HTQJ JEFpJIIJdFJH9Gd]IdSF^HTQJHIQWVHedgFndQWVHEQWVFHESRHUJUJEHTQJHpRJ_TJEHoJIDFnJR^HIGETJREHDSWVHUJUJEHTQJH_SIdQ_QIWVJHjQETJRVJQFHTJRHLSQHJEFdST^ TDIH\RGTS]FHJQEJRHeRfnQIJEH\dDESEUgH{_HTDIHpJIFnSIFJddJE^H8JTDRpHJIH]JQEJRHpQEIFJRJEH9JRIWVdgRSEUIFVJGRQJEg ZQJHdJIFdQWVJEHjJTQJEHVD8JEHTQJHPdQIWVJEpfddJHEDWVH[RfpFJEHDSpUJ8DSIWVFgHZQJHNQJTJR]EzeeJdSEUHFQ8JFQIWVJRHZJ_GEIFRDEFJEHbGRHTJR WVQEJIQIWVJEHoGFIWVDpFHQEHTJRHEJeDdJIQIWVJEHLDSeFIFDTFH[DF_DETSHdSRTJHQ_HcJREIJVJEHIGHTDRUJIFJddF^HDdIHIJQJEHJIHWVQEJIQIWVJHSETHEQWVF EJeDdJIQIWVJH\GdQnQIFJE^HTQJHJR8DR_SEUIdGIHTQJHyWVdDUIFgW]JHpzVRFJEg NQJ_DETHdQRTH8JVDSeFJE^HTDvHTJRHZDdDQHHD_DHTQJIJHi8JRURQppJHDEUJIFQpFJFHVD8J^HTQJHQ__JRVQEH_JVRJRJHGTJIGepJRHpGRTJRFJE^HD8JRHUDEn GVEJHPdJQpJdHdSRTJEHTQJH_DIIQbJEHyFgRD]FQGEJEHbGEHFSR8SdJEFJEHmdJ_JEFJEHFQ8JFQIWVJRHmKQdGRUDEQIDFQGEJEH}HEQWVFHGVEJHjQFdQR]SEU DSIdfETQIWVJRHeJVJQ_TQJEIFJH}HDEUJnJFFJdF^HTQJHTJIH8JIWVdQWVFQUJETJEHmQEdJE]JEIHQVRJIH]G_eRG_Qv8JRJQFJEHeGFFx[gEQUIHdfEUIFHz8JRTRzIIQU IQETgHMEHTJEHdJIFdQWVJEHjJFRGeGdJEHdDRJEHJIHz8JRdQJUJETHJKnJEFRQIWVJHcQUSRJEHTJIHyVGdUJIWVfpFI^HTQJHIQWVHdQJTJRHQEIHwD_eJEdQWVFH8RQEUJE dGddFJEHSETHTQJHld|_eQIWVJEHwQEUJHDdIHI|_8GdQIWVJHLDETIWVJddJEHTDRIFJddFJEg ZDRz8JRHVQEDSIHdQR]FJHJIHdQJHJQEJHQEFJREDFQGEDdJHO8IeRDWVJ^HDdIHTJRHZDdDQHHD_DHbGEHTJRHTJSFIWVJEHoSETJI]DEndJRQEHpDIFHdQJHJQE yFDDFIG8JRVDSeFHQEHQVRJ_HO_FIIQFnHJ_epDEUJEHdSRTJ^HdfVRJETHSE_QFFJd8DRHTDEDWVHeJGRUJHfgHoSIVHTQJHQV_HbJR8dQJ8JEJHO_FInJQFHESFnFJ^HS_ TJ_HVgWVIFJEHfzRTJEFRfUJRHTJIHFQ8JFQIWVJEHoSTTVQI_SI^HTJ_HlLJRREHTJIHdJQvJEHHGFSIY^HJQEJHVGVJHD_JRQ]DEQIWVJHOSInJQWVESEUHnS bJRdJQVJEgHfQJHVfFFJHdGVdHTJRHTD_DdQUJH\RfIQTJEFHTJRH9JRJQEQUFJEHyFDDFJEHbGEHO_JRQ]DHRJDUQJRF^HpDddIH}HS_HJQEHD8ISRTJIHoJQIeQJdHnSHnQFQJRJEH} TJ_HMETQDEJRVfSeFdQEUHyQFFQEUHoSdd^HTJIIJEH9Gd]HbGRHTJRHeV|IQIWVJEHOSIRGFFSEUHIFDET^HQ_HOSIdDETHJQEJHfVEdQWVJHLSdTQUSEUHnSFJQdHUJdGRTJE dfRJ ZQJHTJSFIWVJHwJUQJRSEUIWVJpQE^HTQJHTJ_HTJ_G]RDFQIWVJEH\RfIQTJEFIWVDpFI]DETQTDFJEHoDRDW]Hl8D_DHJQEJEHOSpFRQFFHbGRHTJ_HoRDETJE8SRUJR GRHbJRdJQUJRFHVDFFJ^HJ_epDETH]JQEJRdJQHoJTJE]JE^HTJ_HZDdDQHHD_DHTQJIJHRQ8zEJHnSHbJRIWVDppJEgHLSETJRFFDSIJETJHTJSFIWVJHoJdSETJRJR TQJIJIHllnJDEIHTJRHfJQIVJQFYHbJRpQJdJEHQEH_|IFQIWVJH9JRnzW]SEUgHZJRHLJQdI8RQEUJRHDSIHQ8JF^HTJRHIQWVHnSHEJSJEHwJQIJEHQEHTQJHoSETJIRJeS8dQ] RzIFJF^HQIFH}HdQJHZJRHyeQJUJdH8JIFfFQUFH}HQEHZJSFIWVdDETHeGeSdfRJRHDdIHTJRHTJSFIWVJH\DeIF^HSETHTJRHoSTTVQI_SIHVDFHTJRHhSEUJEHeJEJRDFQGE GppJE8DRH_JVRHnSH8QJFJEHDdIHTDIHCVRQIFJEFS_gHmQEH]dJQEJIHmRdJ8EQIHD_HwDETJqHoJQ_Hi8JREDWVFJEHQEHJQEJ_HHSKSIVGFJdHbGEHZzIIJdTGRpHJEFTJW]FJ QWVHQEHTJRHyWVS8dDTJH_JQEJIHNDWVFFQIWVIHEJ8JEHTJRHoQ8Jd^HTQJHbJR_SFdQWVHbGEHTJEHPJSUJEH`JVGbDIHUJIFQpFJFHdDR^HDSWVHJQEJHmQEpzVRSEUHQEHTQJ JRVD8JEJHHJVRJHeDSFD_DI^HTQJHeD8JHJQEJRHGppJE8DRHRJWVFHpQEDEn]RfpFQUJEHeJIJddIWVDpFHpzRHTQJHcgRTJRSEUHTJIHoSTTVQI_SIg mIHdQJUFH_QRHEQWVFIHpJREJR^HDdIHJQEJH\JRIGEHVGVJEHUJQIFdQWVJEHwDEUJI^HTQJHbGEHTJRHjJVRnDVdHIJQEJRHHDETIdJSFJHDdIHUgFFdQWVJHfQJTJRUJ8SRF bJRJVRFHdQRT^HQEHQRUJETJQEJRHfJQIJHnSHIWV_fVJEgHZDvHJRH_QWVH8JQHJQEJRHeJRIgEdQWVJEHoJUJUESEUHQEHcRDE]pSRFHEQWVFHIGETJRdQWVH8JJQETRSW]FJ^ ]DEEHEQWVFHDdIH[RQFJRQS_HTQJEJEgHO8JRHUDEnHGppJEIQWVFdQWVHVDFHJQEJHdJdFdJQFJHHG88|HbJRISWVF^HIQWVHTQJIJIHjDEEJIHnSH8JTQJEJE^HS_HSEFJR jQv8RDSWVHTJIHGd|_eQIWVJEH9JR8RzTJRSEUIpJIFJIHDdFJH9GRSRFJQdJHSETHKEUIFJHUJUJEz8JRHTJ_HIWVQJRHSEdQTJRIFJVdQWVJEHOSpIFQJUHTJRHLDExwDIIJ nSHIWVzRJEg O8JRHJQEJIH_SvHpJIFUJVDdFJEHdJRTJEqHZJEHZRDVFnQJVJREHTJRHOEFQCVQEDx[D_eDUEJHQIFHJIHFDFIfWVdQWVHUJdSEUJE^HTJEHIeGRFdQWVJEHfJFF8JdJR8^ bGEHTJ_HIQWVHTQJHjQddQDRTJE8Jbgd]JRSEUHTJIHwJQWVJIHTJRHjQFFJHdJdFdJQFJHeJ_JQEID_]JQFHSETHJQEJHTSRWVDSIH8JRJWVFQUFJHOEJR]JEESEUHQVRJR HJQIFSEUJEHbJRIeRDWV^HQEHJQEJEHyWVDSedDFnHbGEHPDE]^HmQpJRISWVFHSETHjQvUSEIFHnSHbJRdDETJdEgHfJRH_JQEF^HJRHVfFFJH_QFHTQJIJEHjDEQeSdDFQGEJE^ TQJHIQWVHIGUDRHQEHTJRHbJRnJRRFJEHoJRQWVFJRIFDFFSEUHTJRHld|_eQDTJHbGEH\J]QEUHdQTJRIeQJUJdFJE^HTJEHVJVRJEHPQJdJEHbGEHcRJQVJQFHSET jJEIWVJERJWVFJEHUJTQJEF^HIGddFJHIQWVH8JdSvFHIJQE^HTDvH}HbGEHJQEQUJEHOSvJEIJQFJREHD8UJIJVJEH}H8JQ_HURgvFJEH9Gd]HTJRHmRTJHTJRHmQETRSW] JEFIFDET^HQEHJQEJHZQI]RQ_QEQJRSEUHSETHjQvDWVFSEUHnSRzW]UJIFGvJEHnSHdJRTJE^HTJEJEHJIHhDHSEdfEUIFHEGWVHDSpHIGHIWV_fVdQWVJHfJQIJHDSIUJIJFnF dDRg mIHUJVFHVQJRHS_HdJQFH_JVRHDdIHS_HTDIHjDWVFxHSETHmQEpdSvRQEUJE^HTDIHIQWVHCVQEDHSETHTQJH{yOH}HdJFnFJRJHUJIFzFnFHDSpHQETQIWVJHyWVzFnJEVQdpJH} IJQFHTJRHjDWVFJRURJQpSEUHjDGHPJTGEUIHQ_H{_]RJQIHTJIHLQ_DdD|DHdQJpJREgHZQJHQ_HfJIFJEHS_HIQWVHURJQpJETJHyWVdfR_JRJQHpzRHTJEHoSTTVQI_SIH} QE]DREQJRFHQEHTJRH\JRIGEHTJIHZDdDQHHD_DH}HGppJE8DRFHJQEJH8JIFzRnJETJH_JFDeV|IQIWVJHwDFdGIQU]JQFg
ZDIHRJdQUQgIJHoJTzRpEQI^HTDIHESEHJQE_DdHTJ_HLG_GHIDeQJEIHIJQFHIJQEJRHmEFIFJVSEUHQEEJdGVEFHSETHTDIHQVEHbGEHDddJEHDETJRJEHDEQ_DdQIWVJE eDFFSEUJEHSEFJRIWVJQTJF^HdQRTHGppJE8DRHTSRWVHTQJHz8JRdQJpJRFJEHD8RDVD_QFQIWVJEHj|FVJEHEQWVFH_JVRH8JpRQJTQUFgHMEHTQJIJIH_JEFDdJH9D]SS_ TRfEUFHIQWVHJQEJHQEH_DEWVJRHLQEIQWVFH8JdSETJREIdJRFJHlppJE8DRSEU^HTQJHD8JRHUJRDTJHQEHQVRJRHFDEFRQIWVJEHFQ8JFQIWVJEHOSIdJUSEUHTSRWVHTzIFJRJ wJdQ]FJHbGEHyWVD_DEJEFS_HbJRTzIFJRFHdQRTgHOddnSHbQJdJHO_JRQ]DEJRHSETHmSRGefJRHVD8JEH_QFHDSISpJRETJRH\VDEFDIQJHTDIHFQ8JFQIWVJHLGWVdDETHQE JQEJHORFHyVDEURQxHDHbJRdDETJdFgHZQJHOSIIQWVFHDSpHfQJTJRUJ8SRFHSETHTDIHDddJIHJRdgIJETJHNQRdDEDHIGddHTQJHTJ_HjJEIWVJEHQEEJdGVEJETJ GTJIpSRWVF^HTQJHSEJRFRfUdQWVJH{EUJdQvVJQFHTJIIJE^HdDIHTDEDWVH]G__F^HTSRWVHJKGFQIWVHbJR]dfRFJHfJQIVJQFIIeRzWVJHz8JRdQETJEg fGVddJQIdQWVHdJRTJEHDddJHURzETdQWVJEHyFSTQJEHbJRTRfEUF^HTQJHIQWVH_QFHTJEHRJDdJEHUJIJddIWVDpFdQWVJEHPSIFfETJEHQEHQ8JFH8JpDIIJEgHZQJ WVQEJIQIWVJH9Gd]I8JpRJQSEUIDR_JJHVDFFJH_QFHQVRJRHDFVJQIFQIWVx_DFJRQDdQIFQIWVJEHMTJGdGUQJHSETH8RSFDdJEH{EFJRTRzW]SEUI_JFVGTJEHndDRHTJR IWVDSJRdQWVJEHwzW]IFfETQU]JQFHJQEHmETJHUJIJFnFHSETHTQJH9GRDSIIJFnSEUJEHpzRHFJWVEQIWVJEHcGRFIWVRQFFHSETHTQJHOEVJ8SEUHTJIH8QIdDEU JR8fR_dQWVJEHZDIJQEIHUJpgRTJRFgHO8JRHIQJHVDFHTQJIJ_H]dJQEJE^HQEHIJQEJEHi8JRdQJpJRSEUJEHdJ8JETJEH9Gd]HDSpHTJ_HZDWVHTJRHfJdFHTQJHEDFQGEDdx RJdQUQgIJHMTJEFQFfF^HhDHTQJHyJJdJHUJRDS8Fg yJQFHTJRHcdSWVFHTJIHZDdDQHHD_D^HTQJHTSRWVHIeJnQJddHbGEHTJRHCMOHDSIUJ8QdTJFJH[D_eDx[RQJUJRHD8UJIWVQR_FHdSRTJ^HQIFHJQEHVDd8JIH`DVRVSETJRF bJRUDEUJEgHLfFFJHJRH}HSEFJRHTJEHSRIeRzEUdQWVJEHeJIJFnJEHIJQEJIHHDETJIH}HIJQEJHmKQIFJEnHdJQFJRVQEHDdIHeGFFx[gEQUHQ_H\GFDdDx\DdDIFHbJR8RDWVF^ dfRJHJRH_gUdQWVJRdJQIJ^HdQJHIGH_DEWVJHIJQEJRHTRJQnJVEH9GRUfEUJR^HQ_HMEFRQUJE]D_epHTJRHjgEWVIUJ_JQEIWVDpFJEHnJRRQJ8JEHGTJRHUDRHbJRUQpFJF dGRTJEgHO8JRHVJSFJHVDFHTQJHUJQIFdQWVJHZJIGRQJEFQJRSEUHTJIHfJIFJEIHJIHTQJIJ_Hz8JRHJQEHJQUJEDRFQUJIHCVDRQI_DHbJRpzUJETJEHOSvJEIJQFJRHTJR fJdFeGdQFQ]HJRdDS8F^H9JRJVRSEUHSETHLJQdIJRdDRFSEUJEHUJRDTJH8JQHOEUJVgRQUJEHUJVG8JEJRHeJIJddIWVDpFIIWVQWVFJEHnSHdJW]JE^H8JQHTJR IGUJEDEEFJEH\RG_QEJEnHTJIHyVGd8Qn^HTJRH\GdQFQ]^HIGUDRHTQbJRIJRHfQRFIWVDpFI_DEDUJRHLJRGdTJHIJQEJRHoGFIWVDpFHnSHpQETJEgHfJEEHDddJRTQEUI wJQEVGdTHjJIIEJR^HTJRHQEHoJUdJQFSEUHIJQEJRHFQ8JFQIWVJEHyVJReDIHEDWVHi8JRdQETSEUHTJIHLgVJERDSIWVJIHDSpHTJEHVgWVIFJEHeQepJdEHTJIHLQ_DdD|D JQEJHFQJpJHOppQEQFfFHnSHTJ_HlLJRREHTJRHwQEUJYHJ_epQETJF^HTDEEHIGddFJHTDIHRJIeJ]FQJRFHdJRTJEg l8HTJ_HZDdDQHHD_DHTJRHQFJdHlyJQEJHLJQdQU]JQFYHnSIFJVF^HTJRHIJd8IFHJQEJ_HUdfS8QUJEH[DFVGdQ]JEH8JQHTJRHoJEJEESEUHTJIH\DeIFJIHESRHIWVdJR z8JRHTQJHHQeeJEH]G__F^H_DUHJRHIJd8IFHJEFIWVJQTJEgHmRQWVHcGddDFV^HTJRHTJEHZDdDQHHD_DHTSRWVDSIHdGVddGddJETH8JIWVRJQ8F^H]G__FHEDWVHdDEUJE ZQDdGUJEHnSHTJ_HyWVdSv^HTDvHpzRHJQEJH9QJdnDVdHO8FRzEEQUJR^HTQJHDEHTJEHfJRFJEHSEIJRJIHdJIFdQWVJEH[SdFSR]RJQIJIHbJRndJQpJdE^HTQJIJR JQUJEIQEEQUJHyWVD_DEJHnS_HlwJeRfIJEFDEFJEHJQEJRHIDEpFJEHfJdF_DWVF^HnSRHVgWVIFJEH_GRDdQIWVJEHMEIFDEn^HnSIFfETQUHpzRHTQJHeRSETpRDUJEHTJR jJEIWVVJQF^HdQJHHJ8JEIIQEE^HedzW]^HeJRJWVFQU]JQFHSETHcRQJTJEYHUJdGRTJEHQIFgHOdIHeGIF_GTJREJRHmEUJdH_QFHSRnJQFdQWVJE^HQEHTJRHfQJTJRUJ8SRF IFJFIHRJQE]DREQJRFJEHfSRnJdE^HDdIHdJFnFJRHUJ_JQEID_JRHNJEEJRHpzRHoJUJQIFJRSEUIpfVQUJHSETHy]JeFQ]JR^HlVE_fWVFQUJHSETHi8JR_fWVFQUJ^ NJSRGFQ]JRHSETHNDFSR8SRIWVJEH}HJQEJHORFHRGIFepdDIFJRHpzRHTQJHQEHedG8DdQIQJRSEUIUJdQEEJRHSETHxbJRdQJRJRHnJRIedQFFJRFJHmRTJ^HIGHIQJVFHmRQWV cGddDFV^HDSpHTJIIJEH{RFJQdHQWVHIFJFIHbQJdHUJUJ8JEHVD8J^HTJEHZDdDQHHD_Dg lfJEEHIGHbQJdJHjJEIWVJEHQ_HfJIFJEHQEHIJQEJRH\JRIGEHQ__JEIJEHIeQRQFSJddJEHRGIFHUJpSETJEHVfFFJE^HIGHfSvJRFHIQWVHTJRHVO8URSETHTJR fJQIVJQFW^HTDEEHIDUJHTDIH_JVRHDSIHz8JRHIQJHDdIHz8JRHQVEY^HnQFQJRFHcGddDFVHTJEHldJQIJEHCdGdEY^HTJRHEDWVHTQJIJRHOSIIDUJHQEHTRgVEJETJI eJdfWVFJRHbJRpDddJEHIJQgHyWVGESEUIdGIJRHSETHIWVDRpnzEUQUJRH]DEEHTQJHmEFdSRnJdSEUHTJIHldJQvJEHjDEEJIYHD_HmETJHIJQEJIH\DRWGSRIHTSRWV CVRQIFJEFS_^HOSp]dfRSEU^H_gRTJRQIWVJIHNJSxLJQTJEFS_^H9JRdJRpSEUHbGEH9JRESEpFHSETHjDvHEQWVFHDEUJTJSFJFHdJRTJEgHZJRHlLJRRHTJIHdJQvJE HGFSIYH}HQEHIJQEJHRGFJHjgEWVI]SFFJHUJVzddFH}HIGddFJHTJ_HO8JETdDETHJVJRHDdIHJQEH[zETJRHIJQEJIHNQJTJRUDEUIHTJEEHDdIH\RGeVJFHJQEJR dJdFD8UJdDETFJEHmRdgISEUHJRIWVJQEJEg
ZQJHlVE_DWVFHoSTTVDI ZJRHRJdQUQgIJEHfJQIVJQFHSETHfzRTJHTJIHoSTTVQI_SIHIGddHVQJRHTSRWVDSIHUJVSdTQUFHdJRTJEgHO8JRHnS_HwJnJeFH8JUdzW]JETJRHyFDDFIpzVRSEUHGTJR nSRHcRQJTJEIIFQpFSEUHQIFHJRHESEHJQE_DdHEQWVFHUJJQUEJFgHZDRQEHSEFJRIWVJQTJFHIQWVHTQJHHJVRJHeDSFD_DIHz8RQUJEIHEQWVFHIGETJRdQWVHbGEHTJEHDETJRJE SEIH8J]DEEFJEHwJdQUQGEJEg jJQEJHeJRIgEdQWVJEHmRpDVRSEUJEH8JnQJVJEHIQWVHQ_HdJIJEFdQWVJEHDSpHTJEHoJRJQWVHTJRHSRIeRzEUdQWVJEHVJRDbDTDxHGTJRHLQED|DEDxyWVSdJ^HTJRJE QEHIDpRDEUJd8JHGUJEHUJVzddFJHjgEWVJHnSHpRzVJRHyFSETJHDSIHQVRJEH[dgIFJRE^HQVRJEHyDEUVDI^HQEHdDEUJRHwJQVJHDSIIWVdfR_JE^HS_HQEHGE]RzUJE bGEHTJEH]EQJETJEHedfS8QUJEHQVRJHNDVRSEUHJQEnSID__JdEg oJIGETJRIHD_HLJRnJEHdDUH_QRHTDIH[gEQURJQWVH[D_8GTIWVD^HTDIHSEFJRHTJRHJKFRDbDUDEFJE^HD8JRH]dSUJEHLJRRIWVDpFHTJIH\RQEnJEHyQVDEGS] _JQEJRH9GRIFJddSEUHbG_H\DRDTQJIHDSpHmRTJEHD_HEfWVIFJEH]D_gHi8JRHTQJIJIHVJQFJRJHHDET^HTDIH}HbGEHhJTJRHmR8IzETJHbJRIWVGEFH}HQEHpD_QdQfRJR {EUJndSEUJEVJQFHSETH_DFJRQJddJRHyGRUdGIQU]JQFHQEHTJEHDUHdJ8FJ^HQIFHQ_H`DVRJHhicbHJQEHURDSJEVDpFJRHLGRRGRHVJRJQEUJ8RGWVJEgHZDIHbGE \RfIQTJEFHNQKGEHSETHLJER|H[QIIQEUJRHUJIWVzRFJH[G_edGFFHVDFFJHTQJHyD]RDdpQUSRHNGRGTG_HyQVDEGS]^HTJRHIQWVHQVRJEH\dfEJEHTJRH[RQJUIDSIdJQFSEU dQTJRIJFnFJ^HTSRWVHJQEJEHOR_JJeSFIWVHUJIFzRnFgHZQJIJHMEIJdHTJIHcRQJTJEIH_QFID_FHQVRJEHnDVddGIJEH\DUGTJEHdSRTJHTJEH9JREQWVFSEUIIWVdfUJE TJRH{yHOQRHcGRWJHDSIUJdQJpJRFgH{RedgFndQWVHdSRTJHTDIHQT|ddQIWVJH[D_8GTIWVDHJQEHlepJRHTJRH9JRdzIFSEU^HTJRHIQFFdQWVJEH9JRRGVSEUHTSRWVHTDI 9GRTRQEUJEHeRQ_QFQbJRHjgRTJR8DETJEgHZQJHIGUJEDEEFJEHwGFJEH[V_JR^HTQJHIQWVHbGEHJQEJRHeIJSTGRJbGdSFQGEfRJEHOURDRx{FGeQJH8dJETJEHdQJvJE^ VDFFJEHQEHTJEHQJpJEHTJIHZIWVSEUJdIHDSpHQVRJHyFSETJHUJdDRFJFgHmFdDHndJQHjQddQGEJEHjJEIWVJEHdSRTJEHbGEHTJEHl[V_JRIHwGSUJIYHUJndSEUJE^ QVRJHJQUJEJEHjDIIJEURf8JR^HTQJHl[QddQEUHcQJdTIY^HDSInSVJ8JEg MEHhzEUIFJRH9JRUDEUJEVJQFHVDFHbGRHDddJ_HTQJHTS_epJHjQdQFfRTQ]FDFSRHbGEHoSR_DHGTJRHj|DE_DRHTQJHmEFRzIFSEUHDddJRHDSpRJWVFJEHGTJR bJRdGUJEJEHZJ_G]RDFJEHdDWVUJRSpJEgH{EFJRHTJRH[GdGEQDdVJRRIWVDpF^HDdIHTDIHVQEFJRQETQIWVJHMRRDdDTT|xDdH_QFHTJ_HHQJTHbJR]dfRFHdSRTJqHllE FVJHdD|HGpHjDETDdD|HdVJRJHFVJHpd|QEUHpQIVJIHpd|Y^HUDdFH8JQHTJEH8RQFQIWVJEH9JRdDdFSEUI8JD_FJEHTJRHyDFnqHlGH8JHDHoSR_JIJH_JDEIHFGH8JHD oSTTVQIFgYHZQJIJH_|IFQIWVJHeRSETDSIRQWVFSEUHVDFHEQWVFHbJRVQETJRF^HTDvHIJQFHTJ_HDUHTJRH{ED8VfEUQU]JQFHJQEJH8RSFDdJHjQdQFfRWdQGSJHTQJ LDSeFIFDTFHwDEUGGEHQEHJQEHIFfVdJREJIH[GRIJFFHndDEU^HTQJHQEHpRG__JRHyWVQW]IDdIJRUJ8JEVJQFHbJRVDRRJETJHoJbgd]JRSEUHF|RDEEQIQJRFJHSETHTQJ DSIJQEDETJRIFRJ8JETJEHJFVEQIWVJEH[G_eGEJEFJEHTJRHoSR_JIQIWVJEH{EQGEH_QFHfDppJEUJdDdFHSEFJRdDRpg NGWVHIWVdQ__JRHQIFHJIHJQEJ_HDETJRJE^HQ_HVJRDbDTDxoSTTVQI_SIHbJRdSRnJdFJEHyFDDFIdJIJEHDEHTJRHyzTIeQFnJHTJIHQETQIWVJEHyS8]GEFQEJEFI JRUDEUJEgHMEHCJ|dGE^HTDIHVJSFJHyRQHHDE]DHVJQvF^HVDFFJHQWVHJQEIFHQEH[DET|HQEHJQEJRHJETdGIJEHyWVdDEUJHeJ8JFJH_SR_JdETJRHedfS8QUJRHTJE lDSFVJEFQIWVJEY^HDddJRTQEUIHz8JRTQ_JEIQGEDdJEHPDVEHoSTTVDIH8JIFDSEFgHZJIIJEHmR_DVESEUJEHnSRH9JRIgVEdQWV]JQFHSETHnS_HeJdDdFbJRnQWVF
VD8JEHhJTGWVHEQWVFHbJRVQETJREH]gEEJE^HTDvHTQJHwJUQJRSEUHbGEHCGdG_8GHJQEJEHJETdGIJEH9JREQWVFSEUI]RQJUHUJUJEHTQJHjQETJRVJQF VQETSQIFQIWVJRHD_QdJEHDSIdgIFJ^HTQJHDdIH\dDEFDUJE]SdQIHDSIHTJ_HQETQIWVJEHJQdIFDDFHD_QdHNDTSHRJ]RSFQJRFHdGRTJEHdDRJEHSETHQEHQVRJ_ EgRTdQWVJEHyWVdJReSE]FH`DppEDHeGdQFQIWVJH{ED8VfEUQU]JQFHbGEHTJRH8STTVQIFQIWVJEHjJVRVJQF^HnS_QETJIFHJQEHdJQFJIHjDvHDEHOSFGEG_QJHbGE CGdG_8GHpGRTJRFJEgHeJUJEHTQJIJHwJ8JddQGE^HbGRHDddJ_HUJUJEHTQJHUJpzRWVFJFJEHlD_QdxQUJRYHQIFHTQJHOR_JJHTJIH8STTVQIFQIWVJE CG__GEdJDdFVxyFDDFJIH_QFHDddJEHnSRH9JRpzUSEUHIFJVJETJEH9JREQWVFSEUI_JFVGTJEHbGRUJUDEUJEgHOdIHIWVdQJvdQWVHQ_HyG__JRHabbiHTJR 8JdDppEJFJHfQTJRIFDETHTJRHD_QdJEHnSID__JE8RDWV^HdSRTJHTQJHdJVRdGIJHPQbQd8Jbgd]JRSEUHQEHIWVDRpH8JdDWVFJEHoDRDW]JEHnSID__JEUJepJRWVF^ TQJHTJEHOSITRSW]Hl[GEnJEFRDFQGEIdDUJRYHbJRTQJEJEg ZJ_H[JREUJ8QJFHTJIHVJRDbDTDxoSTTVQI_SI^HTJ_H[gEQURJQWVHVDQdDET^HIQETHIGdWVJHeRJSJdHJRIeDRFHUJ8dQJ8JE^HdDIHnSHJQEJ_HdJIJEFdQWVJE JQdHTJRHUGFFfVEdQWVJEHOSFGRQFfFHSETHTJRHfJQIVJQFHTJIHURJQIJEH[gEQUIHoVS_Q8GdHnSHbJRTDE]JEHQIFgHZGWVHTDIHDdFJHyQD_HFDS_JdFHIJQFH`DVRnJVEFJE bGEHJQEJ_HjQdQFfRWGSeHnS_HEfWVIFJEgHZQJH[GRRSeFQGEHQEHTJEHjQEQIFJRQJEHoDEU]G]IHSETHTQJHpRgVdQWVJHHDIFJRVDpFQU]JQF^HTQJHDddJEFVDd8JE bGRVJRRIWVF^HdDIIJEHIQWVH_QFHTJ_H8STTVQIFQIWVJEHSUJET]DEGEHDddJRTQEUIH]DS_HbJRJQE8DRJEgHNJSJRTQEUIHbJRIWVfRpFHIQWVHnSTJ_HTJRH8dSFQUJ [GEpdQ]FH_QFHTJEH_DdDQQIWVx_SIdQ_QIWVJEHyJeDRDFQIFJEHQEHTJEHfSvJRIFJEHyzTeRGbQEnJEg OSIHSE_QFFJd8DRJRHNfVJHVD8JHQWVHQEHTJEHpRzVJEHIJWVnQUJRH`DVRJEHJRdJ8F^HdQJHDSpHfJQISEUHbGEH\RfIQTJEFH[JEEJT|HTJRH9JRISWVHSEFJREG__JE dSRTJ^HTQJHQEHyzTbQJFED_HIFDR]HbJRFRJFJEJHjDVD|DEDxyWVSdJHeGdQFQIWVHnSHQEIFRS_JEFDdQIQJRJEHSETHDdIHeJUJE]RDpFHUJUJEHTQJHQTJGdGUQIWVJ OSIdJQFSEUHTJIH[G__SEQI_SIHDSpnS8DSJEgHZJRHlepJRFGTHJQpJRETJRHjgEWVJ^HTQJHIQWVHIJd8IFH_QFHoJEnQEpdDIWVJEHQEHoRDETHIJFnFJE^HJRRJUFJ TD_DdIHdJdFdJQFJIHOSpIJVJEgHZQJHIWVgEJHjDTD_JHNVS^HJQEJHyWVdzIIJdpQUSRHTJRH]DFVGdQIWVJEHZQ]FDFSRHNUGHZQEVHZQJ_I^HVDFHTDIHURDSIQUJ yWVDSIeQJdHDddJRTQEUIHESRHnSHTJRHn|EQIWVJEHOSIIDUJHbJRDEdDvF^HIQJHIJQHEQWVFHbJRDEFdGRFdQWVHTDpzR^HTDvHTQJIJHNDRRJEHQVRHJQUJEJIHloDR8JWSJY bJRDEIFDdFJFJEgHHDEUJHTDSJRFJHJIHEQWVF^HTDH_SvFJHDSWVHTQJHCMOHJR]JEEJE^HTDvHTJRH9QJFWGEUHTQJH[dgIFJRHTJRH`zEUJRHeDSFD_DIHQEpQdFRQJRFJHSETHpzR IJQEJHPQJdJHnSHESFnJEHbJRIFDETg OSIHpJREIFJRH_|FVQIWVJRH9JRUDEUJEVJQFHQIFHSEIHTQJHyDUDHTJIH8STTVQIFQIWVJEHLJRRIWVJRIHOIVG]DHDSIHTJRHjDSR|DxZ|EDIFQJHz8JRdQJpJRF^HTJR JFdDHndJQVSETJRFH`DVRJHbGRHCVRQIFSIHpDIFHTJEHUDEnJEHQETQIWVJEHyS8]GEFQEJEFHDSpHTQJHHJVRJHyQTTVDRFVDIHDSIRQWVFJFJ^HTJEHLQETSQI_SI dJQFUJVJETHbJRTRfEUFJ^HGVEJHhJTGWVHTJIIJEH[DIFJExyFRS]FSRJEHz8JRdQETJEHnSH]gEEJEgHZGWVHOIVG]DHdDRHDddJIHDETJRJHDdIHJQEHLJdTHTJR yDEpF_SFHSETHTJRHZSdTID_]JQFgHZJRHHJUJETJHnSpGdUJHdQJvHJRHIJQEJHiiHoRzTJRHSETHwQbDdJEHVQERQWVFJEHSETHhJTJEHfQTJRIFDETHIJQEJRH{EFJRFDEJE Q_HodSFHJRIFQW]JEgHZDEEHDddJRTQEUIHVD8JHIJQEJHHfSFJRSEUHSETHIJQEJHoJ]JVRSEUHnSRHdDVRJEHHJVRJHIFDFFUJpSETJEg OIVG]DHIWVQW]FJHIJQEJH8STTVQIFQIWVJEHjQIIQGEDRJH8QIHEDWVHMETGEJIQJEHSETHQEHTJEHDpUVDEQIWVJEHLQETS]SIWVHDSIgHOSpH`DbDHQIFHDdIHjGES_JEF TQJIJRHoJ]JVRSEUIDR8JQFHTQJH]GdGIIDdJHJ_eJd]GEIFRS]FQGEHbGEHoGRG8GTSRHJRVDdFJEHUJ8dQJ8JE^HdfVRJETHQ_HDpUVDEQIWVJEHoD_|DEHTQJHRQJIQUJE^ QEHVJddJEQIFQIWVJEHcDdFJEdSRpHUJ]dJQTJFJEHcJdIxoSTTVDIHTJ_HoQdTJRIFSR_HIFSeQTJRHDdJ8DEHnS_HlepJRHpQJdJEHSETHUJIeRJEUFHdSRTJEg jDEWVJHLQIFGRQ]JRH8JVDSeFJEHz8RQUJEI^HTDvHTJRHdQIFQUJH[gEQUHOIVG]DHIQWVHTJRHcRQJTJEIxHSETHmEFIDUSEUIdJVRJHoSTTVDIH8JTQJEFHVD8J^HS_ 8JIGETJRIHRfS8JRQIWVJHSETH]RQJUJRQIWVJHyFf__JHDEHTJEHeRJEnJEHIJQEJIHwJQWVJIHQEHSEFJRdzRpQUJHSETHpRG__JH{EFJRFDEJEHnSHbJRdDETJdEHSET nSHeDnQpQnQJRJEgHKVEdQWVHIGddJEHhDHDSWVHWVQEJIQIWVJH[DQIJRHTJRHjQEUxZ|EDIFQJHbGRUJUDEUJEHIJQE^HS_HTQJH[GEbJRIQGEH8DR8DRQIWVJRHyFJeeJEVGRTJE nSRHIDEpFJEHoJIQEEdQWV]JQFHTJRH8STTVQIFQIWVJEHyDEUVDIHnSH8JFRJQ8JEHSETHTQJHSEUJnfV_FJHfQdTVJQFHQEHRJIQUEQJRFJH{EFJRdzRpQU]JQFHnSHbJRdDETJdEg jDEWVJHjGEUGdJE^HIGHbJREDV_HQWV^H8J]dDUJEHVJSFJHEGWVHTQJIJHleI|WVQIWVJH[DIFRDFQGEYHQVRJRHIFzR_QIWVxDUURJIIQbJEH9JRDEdDUSEUg
M_HHDETHTJIHUdzW]dQWVJEHZRDWVJE fJRHTJEHoSTTVQI_SIHDdIHjfRWVJEHSEIJRJRHDUJ^HDdIHbJRdQR]dQWVFJEHRDS_HbGEHyVDEURQxHDHJRdJ8JEHdQdd^HTJRH8JUJ8JHIQWVHEQWVFHEDWV ZVDRD_IDdD^HTJ_HO_FIIQFnHTJIHZDdDQHHD_DHDSpHQETQIWVJ_HoGTJE^HdGHIQWVHQ_H{_]RJQIHJQEJIHRJWVFHVDR_dGIJEHeGFFx[gEQUIHDddJHESRHTJE]8DRJE eJVJQ_TQJEIFJHFS__JdEgHyFDFFHTJIIJEH8JJQdJHJRHIQWV^HTDIHQEHyQWVFdJQFJHTJIHjGSEFHmbJRJIFHUJdJUJEJH[gEQURJQWVHoVSFDEHDSpnSISWVJE^HTJIIJE LJRRIWVJRH}H_QFHbQJRHyWVdJIFJREHbJRVJQRDFJFH}HTJEHmEFIWVdSvHpDvFJ^HTDIHURG8x_DFJRQDdQIFQIWVJHyFRJ8JEHTJIHfJHIFJEIHEDWVHleRGIIHNDFQGEDd \RGTSWFYHTSRWVHTQJHbJRUJQIFQUFJHjJVRSEUHJQEJRHleRGIIHNDFQGEDdHLDeeQEJIIYHnSHz8JRdQETJEg M_HyG__JRHabbHVD8JHQWVH_QWVHDEHlRFHSETHyFJddJHz8JRnJSUJEH]gEEJE^HTDvHJIHIQWVHTD8JQHS_H]JQEJHyWVDRdDFDEJRQJHVDETJdFJ^HIGETJREHTDv `QU_JHyQEU|JHfDEUWVS]^H{RJE]JdHTJIHeRzETJRIHTJRHTGRFQUJEHZRDWVJExZ|EDIFQJ^H8JQHIJQEJEHRSETHIJWVIHjQddQGEJEH{EFJRFDEJEHJQEJEHPSIFDET DddUJ_JQEJRHPSpRQJTJEVJQFHSETHpRG__JEHfGVd8JVDUJEIHIWVSpgHZDIH8JIWVJQTJEJHZDIJQEHSETHTQJH8JURJEnFJEHjgUdQWV]JQFJEHTJR oJTzRpEQI8JpRQJTQUSEUHdJRTJEHbGEHTJRHoJbgd]JRSEUH]JQEJIdJUIHDdIHmEF8JVRSEUHGTJRHoJEDWVFJQdQUSEUHJ_epSETJEg ZQJHDIQDFQIWVJEHNDWV8DRIFDDFJEHdDRJEHz8JRRDIWVF^HDdIHTQJIJRHdGVddGddJETJHZJIeGFHEDWVHRJdDFQbH]SRnJRHwJUJEFIWVDpFHQ_H`DVRHabbTHDSpHIJQEJE VRGEHbJRnQWVFJFJHSETHIJQEJEHyGVEH`QU_JH[VJIDRHND_U|DdHDdIHNDWVpGdUJRHJQEIJFnFJgHmRHJ_epDVdHIJQEJEH{EFJRFDEJEHIGUDR^HUJdQIIJH\RD]FQ]JE dJIFdQWVJRHZJ_G]RDFQJHnSHz8JREJV_JEHSETHJQEHjJVReDRFJQJEI|IFJ_HJQEnSpzVRJEgH9QJddJQWVFHFDFHJRHTDI^HS_HJbJEFSJddJEH9GRdzRpJEH_DEUJdETJR HQ8JRDdQFfFHnSbGRnS]G__JE^HTQJHQEHfDIVQEUFGEHSETHbGRHDddJ_HQEHNJSxZJdVQHJRVG8JEHdJRTJEH]gEEFJEgHZDIH9Gd]HUQEUHVgWVIFHdQTJRIFRJ8JETHnS TJEH{REJEgHMEHpRJQJRHfDVdHbJRIWVDppFJHJIHIeGEFDEHTJRH\DRFJQHTJIHleJd8JEHZRDWVJEY^HTDIHVJQvFHTJRH\DRFJQHTJIH[gEQUIVDSIJI^HTQJHeJID_FVJQFHTJR O8UJGRTEJFJEIQFnJg NGWVHQIFHoVSFDE^HTDIHTJEHGSRQI_SIHDSpIHKSvJRIFJH8JIWVRfE]F^HIQWVHIJd8IFHFRJSHUJ8dQJ8JEgHZDIH[gEQUIVDSIHVDFHJQEJHJQEVJQFdQWVJHHDETJIFRDWVF DEUJGRTEJFqHczRHjfEEJRHQIFHTDIHJQEH]QdFfVEdQWVJRHwGW]HSETHfGddIGW]JE^HTQJH8QIHnS_H[EQJHRJQWVJEgHyf_FdQWVJHNJS8DSFJEH_zIIJEHTJEHyFQd fIFVJFQIWVJRHmdJUDEnHJQEVDdFJE^HTJRHbGEHTJEHURGvJEHjGEDIFJRQJE^HTJEHpJIFSEUIfVEdQWVJEHlPVGEUY^HbGRUJUJ8JEHdSRTJgHZQJH[dgIFJRHbJRVDRRJE Q_HDdFz8JRdQJpJRFJEHwQFSDdgH9GEHTJEHpRJ_TJEHoJISWVJREHdQRTHVQJRH]DS_HNGFQnHUJEG__JEgHffVRJETHTJRHJETdGIJEHwJnQFDFQGEHTJRHjDEFRDIHSET ySFRJE^HTQJHTQJHjgEWVJHQEHTJEHJKD]FHDSIUJRQWVFJFJEH[DRRJJIHQVRJRHdJQERGFJEHwG8JEHbGREJV_JE^HdDWVJEHJQEHeDDRHfdFJRJ^HURQ__QUJHOSpIJVJR TDRz8JR^HTDvHnS_DdH8JQHTJEHNGbQnJEH]JQEJHPJRIFRJSFVJQFHSETH]JQEHeJIeRfWVHDSp]G__FgHyGEIFH8J]G__JEHIQJHTQJH_JVRIWVdfEnQUJEH\JQFIWVJE nSHIezRJEg jQFHTJ_IJd8JEHyFRDpQEIFRS_JEFHbJRpGdUFJEHTQJHoGEnJEHDSWVHSEIJRJHyWVRQFFJ^HDdIHdQRHTJEHPVGEUHbJRdQJvJEgHmIHUDdFHdGVd^HhJEJHZf_GEJEHSET yWVdDEUJEUJQIFJRHnSHbJRFRJQ8JE^HTQJHIQWVHDSpHSEIJRJEHyeSRJEHQEHTQJHdDEUJEHOddJJEHUGdTJEJRHoSTTVDxHSETHoGTVQIDFFbDxyFDFSJEHJQEUJIWVdQWVJE VD8JEH]gEEFJEgHMEHTQJIJRHDRWVDQIWVHJIGFJRQIWVJEH{_UJ8SEUHpzVdFJHQWVH_QWVHJQEHdJEQUHQEHhJEJH[dGIFJRDF_GIeVfRJHbJRIJFnF^HTQJH{_8JRFGHmWWGHQE IJQEJ_HwG_DEHZJRHND_JHTJRHwGIJH8JIWVRQJ8JEHVDFg
\RzTJHSETHIGETJRdQWVHIWVD_bGddHUJVFHJIH8JQHTQJIJ_HJEF]RD_epFJEHeJ8QRUIbGd]Hz8RQUJEIHEQWVFHnSgHZQJHfGVEVfSIJRHIQETHVfSpQUH_QF DSvJRUJdgVEdQWVJEHcD8JdFQJRJEH8J_DdF^HbGRHDddJ_HD8JRHDSWVH_QFHRJDdQIFQIWVJEHZDRIFJddSEUJEH_fEEdQWVJRHeJEQFDdQJE^HTQJH_QFH8dDSJEHSETHRGID yWVdJQpWVJEHbJRnQJRFHIQETgHoJIGETJRIHpQJdH_QRHDEHTQJIJRH]SRQGIJEHjDVD|DEDxyWVSdJHTJRH[SdFHDSp^HTJRHQVRJ_HHQJ8dQEUIVJQdQUJE^HTJ_HlndJQFJE oSTTVDYHSETHVgWVIFJEHeSRSHwQEeGWVJ^HUJdQT_JFHQIFgHM_HDWVFJEH`DVRVSETJRFHVDFFJHJR^HDSpHJQEJ_HQUJRHRJQFJET^HTQJHoJRUJHbGEHoVSFDEHJRRJQWVFg jQFH]RDSIJ_HoDRFdSWVIHdQRTHJRHdQJHJQEHDSIUJpdQeeFJRHLQeeQJHSEIJRJRHDUJHTDRUJIFJddFg ZQJIJRHVJQdQUJHHD_D^HDSWVHDdIHHGFSIxUJ8GRJEJRH\DT_DID_8VDbDHbJRJVRF^HVDFHIQWVHTSRWVHJRGFQIWVJHmKFRDbDUDEnJEHSETHURG8JHyWVJRnJ VJRbGRUJFDEgHyGHIGddHJRH8JQHJQEJRHJQEnQUJEHjDVdnJQFHJQEJHUDEnJH[SVHSETHJQEJHPQJUJH_QFHLDSFHSETHLDDRJEHbJRIeJQIFHVD8JEgHmIHpGdUFJHJQE UJdDdFQUJRHwzdeIJR^HSETHeSRSHwQEeGWVJHJR8RDWVHJQEH]SRQGIJIHQJR^HTDIHESRHQEHTQJIJRHLQ_DdD|DnGEJHDEnSFRJppJEHQIFHSETHDdIHJQEJHORF fSETJRdJIJEHUQdFgHMWVHVD8JHTQJHlwQETJRxeJ_IJYH_QFHTJEHOSI_DvJEHJQEJIH[Dd8JIHSETHnGFFJdQUJ_HURDSJ_HcJddHDdIH8JIGETJRIHVfvdQWVJ QJRUDFFSEUHJ_epSETJEgHZGWVHTQJIJIHjQvUJIWVgep^HlD]QEYHUJEDEEF^HUJEQJvFHyWVSFnHSETHJREfVRFHIQWVHbGEHJKFRJ_HIFDWVJdQUJ_HHDS8^HTJIIJE 8dGvJHoJRzVRSEUH_QFHTJRH_JEIWVdQWVJEHLDSFHdQJHJQEHIWV_JRnVDpFJRHNDTJdIFQWVHdQR]Fg ZJRH]SRnJHOSpJEFVDdFHQEHoVSFDEHbJRVDdpH_QRHnSHJQEJ_HIJdFID_JEHPDS8JRJRdJ8EQI^HTDIH_JQEJRHJVJRHI]JeFQIWVJEH9JRDEdDUSEUHUJUJEz8JRHhJTJR cGR_HbGEHjDUQJHz8JRVDSeFHEQWVFHJEFIeRDWVgH{EIJRHIFf__QUJRHoJUdJQFJRH{TDQH}HQEHTQJHbGRUJIWVRQJ8JEJHHDETJI]dSpFHUJ]dJQTJFH}H]D_H_QRHnS LQdpJ^HDdIH_JQEHyWVfTJdH_QFHbGddJRHfSWVFHDSpHTQJHIWVDRpJ^H]DEFQUJHyFJQEbJR]dJQTSEUHJQEJRHEQJTRQUJEH[dGIFJRepGRFJH]EDddFJgHmQEJHFQJpJH[JR8JHVDFFJ IQWVHQEH_JQEJHyFQREHJQEUJIWVEQFFJEgHZJRH[GepHTRgVEFJHbGRHyWV_JRngHZDHEDV_H{TDQH_QWVH8JQIJQFJ^HS_]RJQIFJH_JQEJH9JRdJFnSEUHdJQVJbGddH_QF IJQEJEHLfETJE^HVGdFJHFQJpHOFJ_HSETH8dQJIH_QRH_JVRpDWVHQEIHeJIQWVFgHjQFHJQEJ_HyWVdDUHdDRHTQJHSEJRFRfUdQWVJHISDdHbJRIWVdSETJEHSETHIGddFJHIQWV DSWVHEQWVFH_JVRHJQEIFJddJEgHZQJHNDR8JHVQEUJUJEHQIFHJRIFHEDWVHndJQHfGWVJEHDdd_fVdQWVHbJR8dDvFg fQJHdDEUJHTQJHMT|ddJHbGEHoVSFDEHJRVDdFJEH8dJQ8F^HdQJUFHQ_HwDFIWVdSvHoSTTVDIgHyWVGEH]G__FHJIHnSHyeDEESEUJEH_QFHTJEHVQETSQIFQIWVJE PSdDETJRJREHDSIHNJeDd^HTQJHIQWVHD_HyzTRDETHTJIH[gEQUIRJQWVIHDEUJIQJTJdFHVD8JEgHOSpHfVEdQWVJHfJQIJHdDRHJQEJHjQURDFQGEHbGEHNJeDdJIJEHTJ_ [gEQURJQWVHyQ]]Q_HnS_H9JRVfEUEQIHUJdGRTJE^HDdIHTQJHQETQIWVJHwJUQJRSEUHIQWVHQVRJRHDdIHS_IFzRndJRQIWVJIHmdJ_JEFH8JTQJEFJgHOSIHTJ_HgIFdQWV UJdJUJEJEHOIID_HTRQEUJEHEJSJRTQEUIHcRJQIWVfRdJRHQEHTQJHJEFdJUJEJEHZIWVSEUJdUJ8QJFJHoVSFDEIHJQE^HS_HTGRFHyWVSFnHbGRHQVRJEHQETQIWVJE 9JRpGdUJREHnSHISWVJEgHyWVGEHUJVFHTQJHyGRUJHS_^HTQJHHGW]JRSEUHTJRHGSRQI_SI8JURJEnSEUHIGdQJHTQJHPSdDIISEUHTJRHFRQbQDdJE cJREIJVeRGURD__JHDSIHloGdd|dGGTYH]gEEJHUJQIFQUJH9JRdQRRSEUHDSIdgIJEgHZQJHPSEDV_JHbGEHyJd8IF_GRTJEHUJRDTJH8JQHhSEUJEHHJSFJEHdQRTH_QF wDFdGIQU]JQFHRJUQIFRQJRFg OSpH]JQEJEHcDddHTDRpHTJRHcRJ_TJHhJTGWVHTJ_HMRRFS_HbJRpDddJE^HTQJHedzW]IJdQU]JQFHTJIHZRDWVJERJQWVIHbGEHoVSFDE^HTQJHIDEpFJHHJ8JEIpRJSTJ IJQEJRHjJEIWVJEHdQJvJEHIQWVH_QFHTJEHPSIFfETJEHbJRUdJQWVJE^HTQJHbGRHTJ_HmQE_DRIWVHTJRHWVQEJIQIWVJEH9Gd]I8JpRJQSEUIDR_JJHQ_HeGFFJIIFDDFHTJR RGFUJdDETJFJEHHD_DIHbGEHQ8JFHbGRVJRRIWVFJEgHyJd8IFHeSRSHwQEeGWVJ^HTJRHIQWVHQEHoVSFDEHDdIHJQEJHORFHVJQFJRJR^HUdzW]IeJETJETJRH[G8GdT eRfIJEFQJRF^HUJdQEEFHD_HNGRTRDETHTJIHLQ_DdD|DHJQEHpSRWVFJRRJUJETJIHOEFdQFnHSETHSEFJRdQRpFHTQJHDSpHQVEHJQEUJIWVdGRJEJHeJpGdUIWVDpFHTJIHZDdDQ HD_DHIJQEJEHnGREQUJEHHDSEJE^HIJQEJRHSE8JRJWVJE8DRJEHfQdd]zRg
ZQJHoGFIWVDpFHTJIHeGdTDppJE lmIHQIFHSEUdDS8dQWV^HpDIFHSEVJQ_dQWV^H_QFHdJdWVJRHMUEGRDEnHTQJHFRJSVJRnQUJEHZJSFIWVJEHTJEHZDdDQHHD_D^HTQJIJEHUJd8xRGFJEHVeGFFHnS_ OEpDIIJEW^HTJRHJRIFHQ_HndDEnQUIFJEH`DVRVSETJRFHTJ_HpQEIFJRIFJEHjQFFJdDdFJRHJEFIeRSEUJEHQIFHSETHTJRHIQWVH_QFHJRIFDSEdQWVJ_HeJIWVQW]HdJIFdQWVJ oJURQppJHbGEHHQ8JRDdQI_SI^HLS_DEQI_SIHSETH\I|WVGdGUQJHDEUJJQUEJFHVDF^HDdIHV`JISIHTJRHNJSnJQFWHDE8JFJEgY ZDIHPQFDFHVD8JHQWVHTJEHQ8JFxmKeJRFJEH9QWFGRHSETH9QWFGRQDHRQ_GETQHJEFdQJVJEgHOSIHeJRIgEdQWVJ_HOEFRQJ8HVfFFJHQWVHEQWVFHUJdDUF^HJQEHIG bJREQWVFJETJIH{RFJQdHnSHpfddJEgHMWVHdQddHEQWVFH8JVDSeFJE^HTDvHTQJHDE8JFJETJHLQEdJETSEUHIGHbQJdJRHSEIJRJRHHDETIdJSFJHnSHJQEJ_HJKGFQIWVJE LJQdI]zETJRHDSIHTJ_HLQ_DdD|DHJQEJ_HTDSJRVDpFJEHwzW]pDddHQEHIWVD_DEQIFQIWVHDE_SFJETJH\IJSTGIeQRQFSDdQFfFHJEFIeRQWVFg fDIHTQJHJQEpfdFQUJHoJdSETJRSEUHJQEJRHG8I]SRJEHFDEFRQIWVJEHcGR_HTJIHoSTTVQI_SIHhJTGWVHnS_HOSITRSW]H8RQEUF^HQIFHTQJHQEFJddJ]FSJddJHSET eI|WVQIWVJH9JRdQRRSEUHTJIHldJQvJEHjDEEJIYgHNDWVHIJQEJRHO8]JVRHbGEHTJRHJQUJEJEHFVJGdGUQIWVJEHi8JRdQJpJRSEU^HbGEHTJRHlFRDTQFQGEHhST[Gx WVR[FQJEEJY^HdQJHTQJHcRDEnGIJEHIDUJE^HQIFHJIHUJRDTJnSHjGTJHUJdGRTJE^HTJEHRSU8QdTJREHSETH\VDEFDI_JEHDETJRJRH[SdFSRJEHEDWVnSdDSpJEg ZD8JQHUJVFHDSIHIJRQgIJEHyFSTQJEHTJIHHD_DQI_SIHVJRbGR^HTDvHHJQ8JQUJEIWVDpF^Hy]dDbJRJQ^HmR8pGdUJHTSRWVDSIHz8dQWVJH\RD]FQ]JEHTJRHTD_DdQUJE pJSTDdQIFQIWVJEHeJIJddIWVDpFHdDRJEgHZDnSHUJVgRFJEHDSWVHJQEJHIFRJEUJH]dJRQ]DdJHLQJRDRWVQJ^HTzIFJRJRHZf_GEJEUdDS8J^HeJVJQ_RQFJEHSETHlIJKSDdx _DUQIWVJH\RD]FQ]JEYgHZQJHIJdFJEJEHcQd_TG]S_JEFJHQEHyWVdDRndJQv^HTQJHSEIHDSIHTJRHmeGWVJHbGR_DGQIFQIWVJRHFQ8JFQIWVJRH{ED8VfEUQU]JQF JRVDdFJEHIQET^HbJRDEIWVDSdQWVJEHJQEJHyJRQJHbGEH]SdFQIWVJEHwQFSDdJE^HTJRJEHURDSJEVDpFJRHyeS]HSETHTQJHDEHmeQdJeIQJHURJEnJETJEHRDEWJnSIFfETJ FQJpIFJIHoJpRJ_TJEHDSIdgIJEHIGddFJEg ZQJHZJEDFSRQJRSEUHTJIHdDVRJEHLJQdIdJUJI^HTJEHTJRHDSFVJEFQIWVJHoSTTVDHeRJTQUFJHSETHTJRHTQJHOSIz8SEUHdJdFdQWVJRHjDWVFHdJQFHbGEHIQWV dJQIF^HdQRTHQEHTJRHeRGpSETJEHOEDd|IJHTJRHQ8JFGdGUQEH`DEJHoSEEDUHGVEJHhJTJHyeSRHbGEH\GdJ_Q]H8JIWVRQJ8JEgHlZQJHyWVdzIIJdRGddJHTJRHjgEWVJ SETHQVRJRHVyDEUVDIWY^HIGHIWVRJQ8FHIQJ^HleRfTJIFQEQJRFHIQJHFVJGRJFQIWVHnSHJQEJRHpzVRJETJEHyFJddSEUHDSpHbQJdJRdJQHeJ8QJFJEgHO8JRHTQJHedfS8QU]JQF QVRJRHpRG__JEHeJpGdUIWVDpFHbJRdJVRFHIQWVHTDUJUJE^HTDvHIQWVHTQJHjgEWVJHQVRJHLfETJH_QFHUJIJddIWVDpFdQWVJEHSETHEDFQGEDdJE mEFdQW]dSEUIeRGURD__JEH}HQ_HdgRFdQWVJEHdQJHQ_Hz8JRFRDUJEJEHyQEEJH}HIWV_SFnQUH_DWVJEgHZQJHyFfR]JHTJRHjgEWVJHdQJUFHTDRQE^HndDRHQEHTJR eJIJddIWVDpFHnSHdJ8JE^HD8JRHEQWVFHJQdHTJRHeJIJddIWVDpFHnSHIJQE^HdDIHTJEHfJRFHQVRJIH_GRDdQIWVJEHmQEpdSIIJIHIFJQUJRF^HQVRJHeRD]FQIWVJHNzFndQWV]JQF hJTGWVHDSpHJQEHjQEQ_S_HRJTSnQJRFgY U O_HO8JETHbGRH_JQEJRHO8RJQIJHDSIHHVDIDHVD8JHQWVH_JQEJH8JQTJEHeJpfVRFJEHnSHJQEJ_HO8IWVQJTIJIIJEHUJdDTJEgHMWVHVDFFJH8JQHcDEU|QHTDRDSp UJTRfEUF^HTDvH_QRHTQJHnSIFfETQUJHFQ8JFQIWVJHwJdQUQGEI8JVgRTJHD_HmETJHTGWVHEGWVHJQEJEHQEHcRDUJEH8STTVQIFQIWVJRHwJdQUQGIQFfFHJRpDVRJEJE mKeJRFJEHDdIHMEpGR_DFQGEIGSJddJHnSRH9JRpzUSEUHIFJddJgHjJQEJHoJ_zVSEUJE^HbGEHfDEUHCVS]HmQE8dQW]JHQEHTQJHdG]DdJEHjDVD|DEDxyFRS]FSRJEHnS UJdQEEJE^HdDRJEHDEHTJIIJEHMUEGRDEnHSETHEQWVFHnSdJFnFHD_HSEnSRJQWVJETJEHJEUdQIWVJEH9G]D8SdDRH]dfUdQWVHUJIWVJQFJRFgHyGHbJRdJWVIJdFJHJRH8JQ _JQEJRHcRDUJHEDWVHTJEHbQJRHyWVSdJEHTJIHFQ8JFQIWVJEHDEFRQI_SIHTQJHoJURQppJHl\VQdGIGeVQJYHSETHl\VGFG]GeQJYgHPdJQpJddGIHVQJdFHDSWVHJRH}HdQJ
TQJHURGvJHjJVRVJQFHIJQEJRHHDETIdJSFJH}HDEHTJRHMTJDdbGRIFJddSEUHhJEJRHFVJG]RDFQIWVJEHLJRRIWVDpFHIJQEJIHZDdDQHHD_DHpJIF^HTJRHdDEUJHbGRHIJQEJR eJ8SRFHDSIHTJ_H\GFDdDx\DdDIFHVDFFJHpdQJVJEH_zIIJEg oJQHTJRHIJd8IF8JdSvFJEHLDExCVQEJIQEHcDEU|QHVDFFJHQWVHTDIHeJpzVd^HTJRH_gEWVQIWVJHjS__JEIWVDEn^HTQJHG8I]SRDEFQIFQIWVJHjDUQJHDSpHTJ_ ZDWVHTJRHfJdF^HdGHdSETJRFfFQUJHeSRSIHeJRHJdJeDFVQJH_QFJQEDETJRH]G__SEQnQJRJE^HIJQJEHpzRHQVRHFJQdIH]GEpSnQDEQIWV^HFJQdIH_DGQIFQIWVHUJeRfUFJI fJdF8QdTHGVEJHTDIHUJRQEUIFJHMEFJRJIIJgHeJdQv^HTJRHoSTTVQI_SIHVDFFJ^HdQJHTJRHbGd]IFz_dQWVJHwG_DEHZQJHwJQIJHEDWVHfJIFJEH8JIWVRJQ8F^HDSWV PSUDEUHnS_HwJQWVHTJRHjQFFJHUJpSETJE^HSETHhJTJ_HCVQEJIJEHQIFHTQJHjfRWVJEpQUSRHTJIHjgEWVJIHZSDEHPDEUH8J]DEEF^HTJRHQEHoJUdJQFSEUHTJI leGdTDppJEYHDSpHIJQEJRHfDETJRSEUHEDWVHMETQJEHIGH_DEWVJIHO8JEFJSJRH8JIFDETg O8JRHTQJHjDVD|DEDxoRfSWVJ^HTQJH8JQH8RJQFJEH9Gd]IIWVQWVFJEHTJRHLDExwDIIJHIFDR]JEHOE]dDEUHpDETJE^HbJRIWV_GdnJEHQEHJQEJ_HF|eQIWV WVQEJIQIWVJEHy|E]RJFQI_SIHIJVRH8DdTH_QFHTJEHSRIeRzEUdQWVJEHPDS8JReRD]FQ]JEHTJIHDGQI_SIHnSHJQEJ_HbQJdpfdFQUJEHyD__JdISRQS_gHeRgvFJR oJdQJ8FVJQFHJRpRJSFJHIQWVHTQJHcQUSRHTJIHdDWVJETJEHoSTTVD^HTJRH_QFHIFRDVdJETJ_HeJIQWVFHDSpHIJQEJ_HbGEHRJQWVJ_HmIIJEHeRDddHUJpzddFJEHoDSWV dJQIFHSETHbGEHTJRHOI]JIJHTJIHwJdQUQGEIURzETJRIHdJQFHJEFpJREFHQIFgHZQJIJHM_eGRFRJdQUQGEHDSIHMETQJEHJEFIeRDWVHQ_HdJIJEFdQWVJEHTJE D8JRUdfS8QIWVJEHoJTzRpEQIIJEHTJRH8JIWVJQTJEJEHeJIJddIWVDpFIIWVQWVFJE^HdfVRJETHTQJHQEFJddJ]FSJddHSETHdQFJRDRQIWVHUJ8QdTJFJHmdQFJHTJIHjDETDRQEDFI TJEHyWVRQpFJEHSETHeJ8GFJEHTJIHjJQIFJRH[GEUHD8IGdSFJEH9GRRDEUHJQERfS_FJHSETHIQWVHDEHTJIIJEHOVEJExHSETHwQFJE]SdFHGRQJEFQJRFJg MWVHdDRHDEUJEJV_Hz8JRRDIWVF^HDdIHdQRHQ_H`QEUWVJEUxLGFJdHbGEHJQEJ_HVGWVUJdDWVIJEJEHhSEUJEHQ8JFJRHD8UJVGdFHdSRTJE^HTJRHIQWVHTSRWV IJQEJEHVJddJEHJQEFHSETHIJQEHUJdDETFJI^HSR8DEJIHOSpFRJFJEHbGEHTJRHjJVRnDVdHIJQEJRHHDETIdJSFJHSEFJRIWVQJTgHHVSETSe^HdQJHdQRHQVEHEJEEJE dGddJE^HVDFFJHndJQH`DVRJHQEH[DdQpGREQJEHbJR8RDWVF^HIeRDWVHJQEHIJVRHUSFJIHmEUdQIWVHSETHbJRFRDFHhJEJEH|eSIHQTJGdGUQIWVJRH{E8JpDEUJEVJQF^H_QF TJRHIQWVHQEHDSFGRQFfRHRJUQJRFJEHyFDDFJEHTQJHOEUJVgRQUJEHTJIHNDWVRQWVFJETQJEIFJIHTSRWVDSIHbGRFJQdVDpFHbGEHTJRHz8dQWVJEHjQFFJQdSEUIIWVJSHSET 9JRIWVdGIIJEVJQFHQVRJRHjQF8zRUJRHSEFJRIWVJQTJEgH`JTJEpDddIHVDFFJHTQJHUJVJQ_JHO_FIIFS8J^HTQJHHVSETSeHUJIWVQW]FHVDFFJ^HJQEJEHbGRnzUdQWVJE eJIeRfWVIeDRFEJRHDSIUJdfVdFg ZDIHO8JETJIIJEHpDETH}HTDIH_SvFJHdGVdHIGHIJQEH}HdQJTJRHQ_HlLGSIJHGpHyVD_8VDdDYHIFDFFgHZGRFHdQRTHEJ8JEHIWVdJRHUJEQJv8DRJ_HmIIJEHDSWV JGUQx{EFJRRQWVF^HUJQIFdQWVJHmR8DSSEUHQEHIJeDRDFJEHwfS_JEHUJ8GFJEgHeJdJUJEFdQWVHdJRTJEHIGUDRHdG]DdJHjGTJ]GddJ]FQGEJEHbGRUJpzVRFgHlyQJ dGddJEHhDHEQWVFHUdJQWVH_QFH_QRHz8JRHTJEHZDdDQHHD_DHIeRJWVJEYHpRDUFJHHVSETSeHIWVJRnVDpFHSETHIFQ__FJHJQEHHDWVJEHDE^HTDIHpDIFHIGHTRgVEJET ]dDEUHdQJHTQJHLJQFJR]JQFHTJIHllnJDEIHTJRHfJQIVJQFYg mRHbJRISWVFJHUDRHEQWVF^HTQJHPSIFfETJHQEHIJQEJRHLJQ_DF^HDSWVHTDIHeRG8dJ_DFQIWVJHWVQEJIQIWVJH\RGFJ]FGRDFHIWVgEnSRJTJE^HdQJHTDIHQEHTJE GppQnQJddJEH\RGeDUDETD8RGIWVzRJEHz8dQWVHdDRgHmRH_G]QJRFJHIQWVHGVEJH{_IWVdJQpJHz8JRHTQJHcD8Jd8QdTJR^HTQJHbGEHIGH_DEWVJEHO8JEFJSRJRE^ LG88|pGRIWVJRE^HyeQGEJEHSETHfQRR]gepJEHDSIHTJ_HfJIFJEHJEFdGRpJEHdzRTJE^H8QIHVQEHnSHhJEJEHmKnJEFRQ]JRE^HTQJHDSpHTJ_HZDWVHTJRHfJdFHJQEJ bGEHTJRHyQEFpdSFHbJRIWVGEFJHjJEIWVJEUDFFSEUHSETHQ_H{_]RJQIHTJRH[dgIFJRHTQJHyeSRJEHJQEJRHDRQIWVJEH{RRDIIJHJEFTJW]FHnSHVD8JEHUdDS8FJEg lmQEJIHIGddFJEHyQJH8JTJE]JEY^HpSVRHJRH_QFHJREIFJ_H{EFJRFGEHpGRF^HldJEEHdQRHCVQEJIJEHEQWVFHSEIJRJHDdFJE^HGRUDEQIWVJEHoQETSEUJEHDEHQ8JF dQJTJRDSpUJEG__JEHVfFFJE^HdzRTJEHTQJHMETJRHIQWVHdfEUIFH_QFHD_JRQ]DEQIWVJRHLQdpJHQEHHVDIDHJFD8dQJRFHVD8JEgY ZJRHVGWVUJ8QdTJFJHjDEEHUD8H_QRHDSWVHTQJHmR]dfRSEUHTJIHfGRFJIHlyVD_8VDdDYgHZJRHfJUHEDWVHyVD_8VDdDHpzVRJHdDSFHFDEFRQIWV8STTVQIFQIWVJR HJVRJHTJEHmRdJSWVFJFJEHnSHhJEJ_HlRFHTJRHmRdgISEU^HTJIHmQEUJVJEIHQEHJQEJEHQ__DFJRQJddJEHPSIFDETHTJIHedzW]I^HTJRHESRHTSRWVH9JRnQWVFHDSpHDddJ FRQbQDdJEHoJTzRpEQIIJHSETH9JRdGW]SEUJEHTJIHHJ8JEIHJRdDEUFHdJRTJEH]gEEJgHlmIH_DUHyQJHQEFJRJIIQJRJE^HTDvHdDSFHTJ_H[DdDWVD]RDxjDEFRDHDSI TJ_HnJVEFJEH`DVRVSETJRF^HTJ_HDSWVHTJRHbQJRnJVEFJHZDdDQHHD_DHDEVfEUF^HTQJIJRHPSIFDETHTJRH\JRpJ]FQGE^HTQJH9JRdDETdSEUHyVD_8VDdDIHDSI JQEJRH_|IFQIWVJEH9QIQGEHQEHJQEJHJRVD8JEJHfQR]dQWV]JQF^HJRIFHEDWVHJQEJRHURDSJEVDpFJEH\VDIJH]GI_QIWVJEHPSID__JEeRDddIHSETH_JEIWVdQWVJR 9JRTJR8FVJQFHJRRJQWVFHdJRTJEH]DEEgY lppJE8DRHdDRHHVSETSeHz8JRH_JQEJHJEUJHoJIWVfpFQUSEUH_QFHTJ_HRJbGdSFQGEfRJEHMIdD_HSEFJRRQWVFJF^HTJEEHJRHbJRdQJIHDSpHJQEJHIJdFID_J 9JRdDETFIWVDpFHTJRHURGvJEHfJdFRJdQUQGEJEgHM__JRHdQJTJRHFRJFJHTQJHUJ_JQEID_JH9QIQGEHEDWVHJQEJRHPdQIWVJEeVDIJH8dSFQUJRHfQRRJEHDSpgHZDI OSpFDSWVJEHpDdIWVJRH\RGeVJFJEHGTJRHTQJHVgddQIWVJHmRIWVJQESEUHTJIHOEFQWVRQIFJEHdJRTJHQEHTJRHyWVdDWVFHbGEHOR_DUJTTGEHUQepJdE^HhJEJR URDSJEVDpFJEH\RzpSEUHSETHGSfdJETJEH9GRIFSpJHTJRHHfSFJRSEU^H8JbGRHTJRHLQ__JdHIQWVHgppEJFHpzRHTQJH\DRSIQJHTJIHjJIIQDI^HjJVTQHGTJRHTJI oSTTVDHyVD]|D_SEQgHmIH8JIFJVJHTGWVHJQEJHJQUJEDRFQUJH\DRDddJdQFfFHndQIWVJEHTJEHJETnJQFdQWVJEHLQEdJQIJEHTJRHhzTQIWVJEH[D88DdD^HTJR WVQdQDIFQIWVJEHmRdgISEUIJRdDRFSEUHTJRHeRGFJIFDEFQIWVJEHmbDEUJdQ]DdJEHQEH{yO^HndQIWVJEHTJRHIWVQQFQIWVJEHj|IFQ]HTJRHlLGTIWVDFQ|JVY^HTJRHDSWV TJRHhJFnQUJHQRDEQIWVJH\RfIQTJEFHOV_DTQEJhDTHEDVJIFJVJHSETHTQJHDddJIHLJQdHbGEHTJRHfQJTJR]JVRHTJIH9JR8GRUJEJEHPdgdpFJEHM_D_HJRdDRFJF^HnS UJdQIIJEHUJRDTJnSHDeG]Dd|eFQIWVHDE_SFJETJEHyWVRJW]JEIbQIQGEJEHTJIHFQ8JFQIWVJEHDEFRQI_SIgHMEHTQJIJ_H\SE]FHVD8JHIQWVHTQJHFVJGdGUQIWVJ MEFJReRJFDFQGEHTJRHjgEWVIUJ_JQEIWVDpFJEHbGEHHVDIDHSETHyVQUDFIJHdJQFHbGEHTJ_HJRVD8JEJEH\RQEnQeHTJRHlOVQ_IDY^HTJIHeJdDdFbJRnQWVFI^ JEFpJREF^HTDIHTJRHDSFVJEFQIWVJEHHJVRJHeDSFD_DIHQ_HfJIFJEHIGHbQJdJH`SEUJHnSFRJQ8Jg fQRHedDSTJRFJEHDEIWVdQJvJETHEGWVHJQEJHfJQdJHz8JRHUJGeGdQFQIWVJHSETHIFRDFJUQIWVJHPSIFfETJHQEHPJEFRDdDIQJE^H8JbGRHdQRHSEI^HTJ_HWVQEJIQIWVJE oRDSWVHJEFIeRJWVJET^HEDWVHTJ_HdJFnFJEHoQIIJEHSEbJRnzUdQWV^HpDIFHURSvdGIHFRJEEFJEgHcDEU|QHSETHfDEUHCVS]HVDFFJEHIQWVHdfVRJETHTJRHIeRSEUVDpF bJRdDSpJEJEH{EFJRVDdFSEUHhJTJRHKSvJRSEUHJEFVDdFJEg O_HcdSUVDpJEHbGEHHVDIDHbJRD8IWVQJTJFJHIQWVHfDEUHCVS]HD_HpGdUJETJEHDUH_QFHJQEJRH8STTVQIFQIWVJEHySFRD^HTQJHTJ_HND_JEHlyVD_8VDdDY JQEJHVQEFJRURzETQUJHoJTJSFSEUHbJRdQJVgHl8HJRHTD_QFHDSpH_JQEJHRDIFdGIJHwJQIJFfFQU]JQFHDEIeQJdJEHdGddFJHMEHTJ_HyD]RDdFJKFHVQJvHJIqHlmQE _JTQFQJRJETJRHjJEIWVHUJdQEEFHJQEJHUDEnH8JIGETJRJHyQWVFHTJRHZQEUJgHZJRHJQdpJRFQUJHwJQIJETJHUJdQEEFHJQEJEHUDEnHDETJRJEHyFDETeSE]FgHmIHUQ8F IGHbQJdJHSEFJRIWVQJTdQWVJHZJSFSEUJEgHfJdWVJIHQIFHTQJHdDVRJHmQEHjJEIWV^HTJRHDSpHTJRHySWVJHEDWVHyVD_8VDdDHTSRWVHTQJHfJdFHRJQIF^H]DEEHTQJIJ mRdJSWVFSEUH]DS_HpQETJEgHO8JRHTDIH8JTJSFJFHEQWVF^HTDvHyVD_8VDdDHEQWVFHJEFTJW]FHdJRTJEH]DEEgY
ZJRHfDVEHbG_HLQ__dQIWVJEHcRQJTJE \J]QEU^HQ_HOSUSIFHabbc ZJRHcdSUHbGEHHVDIDHEDWVH\J]QEU^HTJRHGSJRHz8JRHTDIHJDEUFIJxoJW]JEHbGEHynJFIWVSDEHpzVRF^HVDFH_QWVHpzRHTQJHbJRIfS_FJHmQIJE8DVEIFRJW]J JEFIWVfTQUFgHZQJHSEUJVJSJRdQWVJEHcJdI_DIIJE^HTQJHQEHIWVdDRnJRHPJR]dzpFSEUHSEFJRHTJRHjDIWVQEJHD8RGddJEH}HTDIHISJddUJ8QJFHTJIH_QRHIG bJRFRDSFJEHjJ]GEUxyFRG_IH}^HIeRJEUJEHDddJH9GRIFJddSEUJE^HTQJHSEIHDSIHmSRGeDHbJRFRDSFHIQETgHZQJH8QnDRRJEH[dJQEIFDDFJE^HTQJHVQJRHndQIWVJEHTJE 8JQTJEHeQUDEFJEHCVQEDHSETHMETQJEHJQEUJ]dJ__FHdQJUJE^HdDSpJEHhJTJRnJQFHeJpDVR^HbGEHTQJIJEHz8JRTQ_JEIQGEDdJEHjDWVF8dgW]JEHnJR_Dd_FHnS
dJRTJEgHZQJH`DeDEJRHdDRJEHQ_HPdJQFJEHfJdF]RQJUHUSFH8JRDFJE^HbG_HZSRWV8RSWVHDSpHTJEH9JRdDdFSEUIIQFnHCVGEUGQEU^HdGVQEHIQWVHQVR EDFQGEDdWVQEJIQIWVJRHeJUEJRHIWVQDEUH[DQIWVJ]HnSRzW]UJnGUJEHVDFFJ^HD8nSIJVJEgHPdQIWVJEHTQJIJEH8RGTJdETJEH[dzpFJEHSETHO8URzETJEHdDRHDE JQEH_QdQFfRQIWVJIH9GRTRQEUJEHEQWVFHnSHTJE]JEg fDIHdQRTHQEHpzEpnQUH`DVRJEHbGEHQ8JFHSETHIJQEJEHVQEFJRURzETQUJEHj|FVJEHz8RQU8dJQ8JEHZQJHeJID_FnDVdHTQJIJIH9Gd]JI^HTJIIJE yQJTdSEUIRDS_HdJQFHz8JRHTQJHQV_HnSUJdQJIJEJHOSFGEG_JHwJUQGEHVQEDSIRJQWVF^HdQRTHDSpHDEEfVJRETHIJWVIHjQddQGEJEH8JnQppJRFgHfDIHbJR_DUHJQEJ IGdWVJHjQETJRVJQFHUJUJEHTQJHJRTRzW]JETJH[GVfIQGEHbGEH_JVRHDdIHJQEJRHjQddQDRTJHLDExCVQEJIJEHO_HmETJHTzRpFJEHJQEHpGd]dGRQIFQIWVJIHjSIJS_ SETHJQEJHpDInQEQJRJETJHyeSRJEID__dSEUHpzRHmFVEGdGUJEHIFJVJEg oJQHTJRHoJdJRFSEUHTJRHUJdJUJEFdQWVJEHOSpIfIIQU]JQFHTQbJRIJRHcRJ_Tbgd]JR^HTQJHTJ_HwJQWVHTJRHjQFFJHJQEbJRdJQ8FHdSRTJE^HUJVJEHTQJHmSRGefJR bGEHbgddQUHpDdIWVJEH\Rf_QIIJEHDSIgHZJ_HO8JETdDETH]DEEHJIHEQWVFHUdJQWVUzdFQUHIJQE^HhDHJIHIFJddFHIQWVHTQJHEDW]FJHi8JRdJ8JEIpRDUJ^HdJEEH}HS_HESR TQJIJHoJQIeQJdJHnSHJRdfVEJEH}HTQJHPDVdHTJRHOdUJRQJRHndQIWVJEHhiTbHSETHabbbHbGEHDWVFHDSpHTRJQvQUHjQddQGEJE^HTQJHTJRHMRD]JRHndQIWVJEHhibHSET hiibHbGEHpzEpHDSpHaHjQddQGEJEHVGWVUJIWVEJddFHQIF^HdfVRJETHTJRHJQUJEJHoJbgd]JRSEUIIFDETHESRHTSRWVHTJEHSED8dfIIQUJEHPSIFRG_ DSvJRJSRGefQIWVJRHjQURDEFJEHDSpHTJ_H8QIVJRQUJEHNQbJDSHUJVDdFJEHdQRTgHczRHTQJHDSvJRJSRGefQIWVJEHURGvJEHyQJTdSEUIUJ8QJFJHTJRHdJQvJE jJEIWVVJQFH}HNGRTD_JRQ]DHSETHyQ8QRQJEHnS_DdH}HUJdFJEHfVEdQWVHTzIFJRJH\JRIeJ]FQbJEg 9GRHndJQVSETJRFH`DVRJEHdDRJEHTQJHJSRGefQIWVJEH[GdGEQDd_fWVFJHEGWVHnSFQJpIFHTDbGEHz8JRnJSUF^HQVEJEHIJQHTJRHUgFFdQWVJHOSpFRDUHJRFJQdF^HTJE QEH8DR8DRQIWVJRHwzW]IFfETQU]JQFHSETHfQdd]zRHTDVQETf__JRETJEH9gd]JREHOIQJEIHSETHOpRQ]DIHTQJHJRdgIJETJHoGFIWVDpFHTJIHCVRQIFJEFS_IHGTJRHTJR OSp]dfRSEUHnSHbJR_QFFJdEgHwST|DRTH[QedQEUH8JnJQWVEJFJHTQJIJHnQbQdQIDFGRQIWVJHjQIIQGEHDdIHlozRTJHTJIHdJQvJEHjDEEJIYg jQFHJQEJ_HfVEdQWVJEHeJpzVdH]SdFSRJddJRHi8JRdJUJEVJQFHSETHFJWVEGdGUQIWVJRHoRQIDEnHTzRpFJEHVJSFJHTQJHCVQEJIJEHTJEHRzW]IFfETQUJEHwDIIJEHQE QVRJEHwDETnGEJEH8JUJUEJEHSETHIQWVHRzV_JE^HQVEJEHTJEHfJUHQEHJQEJH8JIIJRJ^HdzRTQUJRJHPS]SEpFHnSHdJQIJEgHyJQFHTQJHVgWVIFJEHeRJ_QJEHTJR [G__SEQIFQIWVJEH\DRFJQHbGEH\J]QEUH8JURQppJEHVD8JE^HTDvHTQJHbGEHjDGHPJTGEUHbGRUJUJ8JEJHwQWVFdQEQJHTJRHlmQE]QETxcD_QdQJYHnS UJIJddIWVDpFdQWVJRH9JRURJQISEUHSETHIGnQDdJEHmEUefIIJEHpzVRF^HQIFHTQJHTRD]GEQIWVJHeJ8SRFJE8JIWVRfE]SEUHRJdDFQbQJRFHSETHTJRHEGR_DdJ fDWVIFS_IRV|FV_SIHdQJTJRVJRUJIFJddFHdGRTJEg ZQJHDSIHO_JRQ]DHSETHmSRGeDHSED8dfIIQUHbGRUJFRDUJEJEHmR_DVESEUJEHDEHTDIHwJQWVHTJRHjQFFJ^HIQWVHTJEHdJIFdQWVJEH\RQEnQeQJEHbGEHpRJQJR jJQESEUIfSvJRSEU^HeDRFJQeGdQFQIWVJRH9QJdpDdFHSETHeJQEdQWVJRHl8IJRbDEnHTJRHjJEIWVJERJWVFJHSEFJRnSGRTEJE^H]dQEUJEHnSEJV_JETH8QnDRRHSET SEUdDS8dzRTQUgHyJd8IFHQ_HoJRdQEJRHwJQWVIFDUHTzRpFJHIQWVHDdd_fVdQWVHVJRS_IeRJWVJE^HTDvHTQJHQ_HfJIFJEHUJeRQJIJEJHeDRdD_JEFDRQIWVJ lyFRJQF]SdFSRY^HTQJHIQWVH}HSEFJRH9JREDWVdfIIQUSEUHTJRHdQR]dQWVHRJdJbDEFJEH\RG8dJ_JH}HQEHZJ8DFFJEHz8JRHTJEHjQETJIFdGVEHbGEHoRQJpFRfUJREHSET TQJHyeQFnpQETQU]JQFJEHbGEHLDRFnHM9HJRIWVgepF^HEQWVFHJQE_DdH_JVRHTJEHmRdDRFSEUJEHSETHoJTzRpEQIIJEHJQEJIHOWVFnQUxjQddQGEJEx9Gd]JIHUJRJWVF dQRTg U \J]QEUHdJQTJFHSEFJRHJQEJ_H8JIGETJRIHURDSJE^HIWVdzdJEHyG__JRFDUgHZDIH\DdDWJHLGFJd^HDEHTDIHQWVH_QWVHIJQFH`DVRnJVEFJEHUJdgVEFHVD8JHSETHdG QWVH_QWVHdGVdHpzVdJ^HVDFHQEHTJEH{EFJRUJIWVGIIJEHhJEJHeRGFnQUJEHHSKSI8GSFQGSJEHDSIHDddJRHfJdFHJQEUJRQWVFJF^HTQJHdGVdHQEH]JQEJRHVDd8dJUI JK]dSIQbJEHLJR8JRUJHSEIJRJRHDUJHpJVdJEHTzRpJEgHedJQWVHDEHTJRHEfWVIFJEHyFRDvJE]RJSnSEUHRDUFHJQEJHySeJRxjDddH_QFHDSIIWVdJQpJETJRH\RDWVFHdQJ JQEJH[DFVJTRDdJHTJIH[GEIS_IHQEHTJEHEQJTRQUHVfEUJETJEHy_GUgHyQJHIFJddFHQVRJHwQbDdJEHSETHSRIeRzEUdQWVJEH9GR8QdTJRHTJRHD_JRQ]DEQIWVJE jJFRGeGdJEHQEHTJEHyWVDFFJEg ZDHQIFHJIH8JRSVQUJET^HTDvHQWVHQEHJQEJRHNJ8JEUDIIJ^HTQJHQEHwQWVFSEUHDSpHTQJH9JR8GFJEJHyFDTFHpzVRF^HJQEJH8JIWVJQTJEJHwJQVJHbGE 9JR]DSpIIFfETJEHpQETJ^HdGHSEFJRHDddJ_HESRHTJE]8DRJEHGSRQIFJE]QFIWVHDSWVHTQJHURGvJEHjfEEJRHTJRH[G__SEQIFQIWVJEHwJbGdSFQGEHDdI eJIWVQRR8J_DdSEUHSETH]dJQEJHyFDFSJFFJEHdQJHbJR8dDvFJHZJbGFQGEDdQJEHJRVDdFJEHIQETgHOSWVHTDIHwGFJHoSWVHjDGHPJTGEUIHQIFHQEHDddJEH_gUdQWVJE i8JRIJFnSEUJEHQ_HOEUJ8GFg fDIH_QWVHpRDeeQJRF^HQIFHTQJHMETQppJRJEn^H_QFHTJRHTQJHWVQEJIQIWVJEHLfETdJRH_QFHTQJIJEHJQEIFQUJEHl8hJ]FJEHG8dQUDFGRQIWVJRH9Gd]IbJRJVRSEU S_UJVJEgHZJRHeRGvJHyFJSJR_DEEHdQRTHQEH8RzTJRdQWVJRHmQEFRDWVFH_QFHIJQEJ_HmRnpJQETHHQEHoQDGHD8UJ8QdTJF^HTJRH8JQHJQEJ_HUJIWVJQFJRFJEH\SFIWV S_IHHJ8JEHUJ]G__JEHdDRgHOSWVHHQSHZDGGQHQIFHDdIH9Gd]IVJdTHdQJTJRDSpJRIFDETJE^HEDWVTJ_HJRHJQEIFHDdIHWVQEJIQIWVJRHCVRSIWVFIWVGdHDddJHi8Jd TJIH8zRUJRdQWVJEHwJbQIQGEQI_SIHbJR]gReJRFHVDFFJgHmIHpJVdFHQ_HeRSETJHESRHEGWVHjDRIWVDddHIWVQDEUH[DQIWVJ]^HTJRHURGvJHeJUJEIeQJdJRHTJR [G__SEQIFJEHSETH9JR8zETJFJHTJRH{yOg ZQJHCVQEJIJEH8JFRDWVFJEHQVRJHJQEIFQUJEHLJRGJEHSETHogIJdQWVFJRH_QFHTJ_HI]JeFQIWVJEHO8IFDETHJQEJRHSRDdFJEHNDFQGE^HTQJHIWVGEHIGH_DEWVJ Z|EDIFQJHz8JRdJ8FHVDFgHoJ_JR]JEIdJRFHQIFHz8RQUJEIHTQJHoJdJRFSEUHjDGHPJTGEUI^HTJRHndDRHSEJEF8JVRdQWVHdDRHpzRHTQJHRDTQ]DdJHO8]JVRHbGEHTJR JRIFDRRFJE^H8RzWVQUJEHlRTESEUHTJRH9JRUDEUJEVJQF^HD8JRHTSRWVHIJQEJHeGdQFQIWVJEHmKFRDbDUDEnJEHDSWVHSEJETdQWVJIHHJQTHSETHTJEHGTHbGEHbQJdJE jQddQGEJEHIJQEJRH{EFJRFDEJEHnSHbJRDEFdGRFJEHVDFFJgHyJWVnQUH8QIHIQJ8nQUH\RGnJEFHTJRHCVQEJIJEH8JFRDWVFJEHIJQEJHO]FQGEHQ_HwzW]8dQW]HDdI QEIUJID_FHeGIQFQbg ZQJIJHmQEIWVfFnSEUHQIFHndJQpJddGIH8JURzETJFJRHDdIHTQJHedgFndQWVJHmEFTJW]SEUHQEHlIFTJSFIWVdDET^HTQJHLfdpFJHTJRHmQEdGVEJRHTJIHJVJ_DdQUJE OR8JQFJRxSETxoDSJRExyFDDFJIHJ_epfETJEHTDIHZZwxy|IFJ_HJRFRfUdQWVJRHDdIHTQJHPSIFfETJHQEHTJRHdQJTJRbJRJQEQUFJEHoSETJIRJeS8dQ]gHZDHJRIWVJQEF JIHIWVGEHbJRIFfETdQWVJR^HTDvHTQJHjJVRnDVdHTJRHwSIIJEHTJEHIWV_fVdQWVJEHPSID__JE8RSWVHTJRHyGdhJFSEQGEHDdIHQVRHURgvFJIHEDFQGEDdJIH{EVJQd 8JFRDWVFJFg ZDHIFJVJHQWVHDdIGHDSpHTJ_H\dDFnHTJIHLQ__dQIWVJEHcRQJTJEIgHZDIHeJTJE]JEHDEHTJEHeRGvJEHyFJSJR_DEEHdQRTHVQJRHIJVRHbQJdHJQETRQEUdQWVJR TSRWVHTDIHRQJIQUJH\GRFRfFH_QFHTJRHfDRnJHbJRJdQUF^HTDIHz8JRHTJ_HmQEUDEUHnSRHbJR8GFJEJEHyFDTFHFVRGEF^HDdIHTSRWVHTDIHSEpgR_QUJHjDSIGdJS_^HQE TJ_HIJQEHJQE8DdID_QJRFJRH[gReJRH_QFHDepJdRGFHUJIWV_QE]FJEHfDEUJEHRSVFgHZQJHOSI_DvJHTQJIJRHeRSpFHVD8JEHTQJHURDETQGIJHLDR_GEQJHTJIHQJE OEHjJEHdJQTJRHSEdQTJRRSpdQWVHbJRSEIFDdFJFg ZQJHGSRQIFJEHSETHoJISWVJRH8JdJUJEHIQWVHGVEJHDSppfddQUJH[GEFRGddJHDSpHTJ_HRQJIQUJEHORJDd^HD8JRH_DEH]DEEHTDbGEHDSIUJVJE^HTDvHJQE 8JDWVFdQWVJRHJQdHTJRHVQJRHpdDEQJRJETJEHWVQEJIQIWVJEHPQbQdQIFJEHQRUJETJQEJ_H\GdQnJQxHGTJRHyQWVJRVJQFIDeeDRDFHDEUJVgRFgHM_HeJTfWVFEQIHTJI TSRWVIWVEQFFdQWVJEHozRUJRIHTJRH9Gd]IRJeS8dQ]HQIFHTQJHbGEHyFSTJEFJEHDEUJpzVRFJHZJ_G]RDFQJ8JdJUSEUHbG_HcRzVhDVRHhiSi^HTQJHQEHTJ_HjDIID]JR DSpHTJ_HQJEHOEHjJEHD_H~gH`SEQHJQEH8dSFQUJIHmETJHEDV_^HESRHEGWVHJQEJHbDUJHSETHnSTJ_HndQJdQWVFQUJHmRQEEJRSEUgHZQJHeGdQFQIWVJHyFD8QdQFfF SEFJRHTJRHIFRQ]FJEHi8JRdDWVSEUHTJRHmQEVJQFIeDRFJQ^HTQJHIQWVHTDEDWVHJQEIFJddFJ^HTQJHDFJ_8JRDS8JETJHdQRFIWVDpFdQWVJHSETHFJWVEQIWVJHmRpGdUIIFGR|^ TQJHTDIHwJQWVHTJRHjQFFJH8JpdzUJdFJ^HTQJHIFJFJHOEVJ8SEUHTJIHHJ8JEIEQbJDSIHSETH}HdDIFH8SFHEGFHdJDIFH}HTJRHDdd_fVdQWVJHOSpIFQJUHTJR 9Gd]I8JpRJQSEUIDR_JJHnSHJQEJRH[DeDnQFfF^HTQJHTQJH8QIVJRQUJEHySeJR_fWVFJH8JSERSVQUFHSETH_QFHQVRJRH[GI_GEDSFQ]HdfEUIFHTQJHyWVDdd_DSJR TSRWV8RGWVJEHVDFH}^HDddHTDIHdQJUFHSEJETdQWVHIWVdJRJRHDdIHTQJHVJ]FQIWVJEH[RDdDddJHbGEHhiSi^HTQJHbGRz8JRUJVJETHQ_HfJIFJEHTQJHLGppESEU
dJW]FJE^HTQJH9Gd]IRJeS8dQ]HCVQEDH]gEEJHQEHJQEJEHPSIFDETHeIJSTGTJ_G]RDFQIWVJRH{EGRTESEU^HQETSIFRQJddJEH9JRIDUJEIHSETHIFRDFJUQIWVJR jDWVFdGIQU]JQFHnSRzW]pDddJEg MWVHdDRHIJQEJRnJQFHEDWVH\J]QEUHUJJQdF^HS_H_QRHndJQHDUJHEDWVHTJRHNQJTJRIWVdDUSEUHTQJIJRHQ_HfJIFJEHIGHz8JRIWVdJEUdQWVHUJpJQJRFJE l[GEFJRRJbGdSFQGEYHJQEHJQUJEJIH{RFJQdHnSH8QdTJEgHeJdQv^HDSWVHQWVHVDFFJHy|_eDFVQJEHJ_epSETJEHpzRHTQJHhSEUJEHOSpRzVRJRHSETHMTJDdQIFJE^HTQJ IQWVHQ_HND_JEHJQEJIHcRJQVJQFI8JURQppI^HTJEHIQJHIJd8IFHEQWVFHnSHTJpQEQJRJEHbJR_GWVFJE^HQEHJQEHO8JEFJSJRHIFzRnFJE^HDEHTJIIJEHmETJH}HdDSF O_EJIF|HMEFJREDFQGEDdH}HJFdDHEJSEVSETJRFHGFJHnSH8J]dDUJEHdDRJEg O8JRHQEHTJRHPdQIWVJEnJQFHVD8JEHIQWVHbGEHoGUGFXH8QIHOdUQJRHSEJETdQWVHURDSID_JRJHRDUgTQJEHD8UJIeQJdF^HSETHTQJHIQETHbGEHTJRHpdD__JETJE fSFHTJRHeRGpJIIQGEJddJEHjJEIWVJERJWVFdJRHdJQFUJVJETHbJRIWVGEFHUJ8dQJ8JEgHoJQH_DEWVJEHDddnSHIJd8IFVJRRdQWVJEH\VQdHDEFVRGeJEH]G__FH_QRHTDI pRDEngIQIWVJHPQFDFHQEHTJEHyQEEqHlHYD_QHTSHUJERJHVS_DQEHEYJIFHdYD_QHTJHeJRIGEEJH}HZJRHcRJSETHTJIHjJEIWVJEUJIWVdJWVFIHQIFHEQJ_DETJIHcRJSETgY fDIHdfRJHTJEEHTQJHOdFJREDFQbJHUJdJIJE^HdJEEHIQWVHTQJHlwJpGR_JRYHTSRWVUJIJFnFHVfFFJEHZQJH\DRFJQHSETHTQJH9Gd]I8JpRJQSEUIDR_JJHVfFFJE J8JEIGHEDWVVDdFQUHUJUJEHTJEHOSI8RSWVHJQEJRHldJQvJEH[SdFSRRJbGdSFQGEYHSETHTQJHTD_QFHbJR8SETJEJEHozRUJR]RQJUInSIFfETJHJQEURJQpJEH_zIIJE dQJHJQEIFHUJUJEHTQJHJKnJIIQbJEHOSIIWVRJQFSEUJEHTJRHwGFUDRTQIFJE^HTQJHjDGH_QFHIJQEJRHlRTJRHloG_8DRTQJRFHTDIHLDSeFGSDRFQJRXYHDSpUJeSFIWVF VDFFJgHNDWVHTJRJEHPzUJdSEUHSETHZQInQedQEQJRSEUHdDRJEH}HbGRIQWVFQUJEHyWVfFnSEUJEHnSpGdUJH}HpzEpHjQddQGEJEHGTJIGepJRHnSH8J]dDUJEHUJdJIJEg ZJRH]RQFQIWVJHLgVJeSE]F^HTJRHTJEHTD_DdQUJEHIFDR]JEHjDEEHQ_HPVGEUEDEVDQ^HZJEUHZQDGeQEU^HSETHTJEHSEJR8QFFdQWVJEHwJUQJRSEUIWVJpHHQH\JEU UJRDTJnSHndDEU^HUJUJEHTJEHnSEJV_JETHUJdDdFFfFQUJEHOSpRSVRHD_H\dDFnHTJIHLQ__dQIWVJEHcRQJTJEIH_QFHfDppJEUJdDdFHbGRnSUJVJE^HdDR JRRJQWVF^HDdIHJQEJHedS_eJH[GeQJHTJRHD_JRQ]DEQIWVJEHcRJQVJQFIIFDFSJHTDIHGRHnSRH9JR8GFJEJEHyFDTFHbJRIFJddFJHSETHTQJHRJbGdFQJRJETJHjDIIJHTJ_ DSIHjGI]DSHVJR8JQUJJQdFJEHjQWVDQdHeGR8DFIWVGd^HJQEJ_HmKeJRFJEHpzRHyFDDFIDSpdgISEUHSETHCVDGIIFQpFSEU^HTJEHPSUDEUHnS_HeRGvJEH9Gd]IeDdDIF bJRIeJRRFJgHZJRHeJEJRDdIJ]RJFfRHTJRH[\Ty{H_SvFJHTSRWVHJQEJHLQEFJRFzRHJQEUJIWVdJSIFHdJRTJEgHZJ_H\GdQF8zRGHbGEH\J]QEUHdDRHTQJ SEJRFRfUdQWVIFJHyWV_fVSEUHnSUJpzUFHdGRTJE^HTQJHCVQEDH]JEEFgHmIHVDFFJHlTDIHeJIQWVFHbJRdGRJEYg wJDdeGdQFQ]JRHdQJHLJd_SFHyWV_QTFHGTJRHLJER|H[QIIQEUJRHVD8JEHIJVRH8DdTHJQEUJIJVJE^HTDvHTJRHWVQEJIQIWVJEHczVRSEUHUDRH]JQEJHDETJRJHfDVd 8dQJ8^HDdIHnS_HfGVdHTJIHyFDDFJIHSETHTJIH9Gd]JIH_QFHVDRFJRHLDETHTSRWVnSURJQpJE^HTDvHJIH}HS_HJQEJHn|EQIWVJHjDKQ_JHWVQEJIQIWVJRH\GdQFQ]HnS JRdfVEJEH}HDEHTJRHPJQFHdDR^HlTSRWVHTDIHyWVdDWVFJEHJQEJIHLSVEIHJQEJHLGRTJHOppJEHnSHbJRFRJQ8JEYg `JTJEH9GRdSRpHJQEJIHRJD]FQGEfRJEHP|EQI_SI^HTJEH_DEH_QRH_DWVJEH]gEEFJ^HdJQIJHQWVHdJQFHbGEH_QR^HIJQFHQWVH8JG8DWVFJEH]GEEFJ^HTDvHIQWV SEFJRHTJEHdJIFdQWVJEHlLJRGdTJEHTJRHcRJQVJQFY^HTQJH_QFHyWVDS_HbGRHTJ_HjSETHTDIHjDIID]JRHD_HQJEHOEHjJEHbJRpdSWVFJE^HDSIUJRJWVEJFHhJEJ yWVDRdDFDEJHSETHNDRRJEHdQJTJRpDETJE^HTQJHIQWVHndDEnQUH`DVRJHnSbGRH_QFHTJRHleRGvJEH\RGdJFDRQIWVJEH[SdFSRRJbGdSFQGEYHSETHQVRJEH8dSFQUJE mKnJIIJEHIGdQTDRQIQJRFHVDFFJEgHyQJHVDFFJEHIGUDRHQEH\J]QEUH}HnSRHmRVJQFJRSEUHTJRHCVQEJIJEH}HTQJHjDGxjzFnJH_QFHTJ_HRGFJEHyFJREHDSpUJIJFnF^ FRSUJEHTDIHO8nJQWVJEH_QFHTJ_HeRGvJEHyFJSJR_DEEHIFGdnHDSpHTJRHoRSIFHSETHI]DETQJRFJEHQ_HCVGRHOSInzUJHDSIHTJIIJEHwGFJRHoQ8Jd^HhJEJ_ JQEpfdFQUJEHJKF^HTJRHdJTQUdQWVHpzRHTQJHMETG]FRQEQJRSEUHSEdQIIJETJRHWVQEJIQIWVJRHjDIIJEH]GEnQeQJRFHdDR^HDdIHVDETJdJHJIHIQWVHS_HTQJHVgWVIFJ lppJE8DRSEUHRJbGdSFQGEfRJRHfJQIVJQFg \JRpJ]FJIHoJQIeQJdHJQEJRHUJnQJdFJEHMRRJpzVRSEUqHZDIH8JRzV_FJHLJdTJE8QdTHTJIH_SFQUJEHhSEUJEHjDEEJIH_QFHTJRHdJQvJEHcDVEJ^HTJRHIQWVHJQEJ_ RQJIQUJEH\DEnJRHTJRH9Gd]I8JpRJQSEUIDR_JJHQEHTJEHfJUHIFJddFHSETH}HdQJHhJTJRHDEEJV_JEH_SvFJH}HSE_QFFJd8DRHTDEDWVHbGEHTJIIJEH[JFFJE nJR_Dd_FHdSRTJgHZQJHJREzWVFJRETJHfQR]dQWV]JQFHTQJIJRHynJEJHQIFHQEHJQEJ_HcQd_IFRJQpJEHpJIFUJVDdFJEHdGRTJE^HTJEH_DEHTJ_HjDIIJEeS8dQ]S_HTJI fJIFJEIHdGVddJQIdQWVHbGRJEFVQJdFgHZJRHpSRWVFJRRJUJETJHDE]HVDFHEf_dQWVH_JVRpDWVHbJRISWVF^HDEHTJ_HcDVEJEFRfUJRHbGR8JQnS_DEgbRQJRJEHSET 8dQJ8HTDEEHRJUdGIHIFJVJEgHZQJIJHeJdJUJEVJQFH8JESFnFJHTJRH8JVJRnFJHhSEUJHjDEE^HS_H_QFHIJQEJRHdJQvJEHcDVEJHTDIHUJdDdFQUJHcDVRnJSUHnS JR]dQ__JE^HD8JRHQEHTJ_HjG_JEFHdgIFJHIQWVHDSIHTJRHyWVDRHTJRHPSIWVDSJRHJQEJH]dJQEJHeRSeeJH}HGppJE8DRH]JQEJH\GdQnQIFJE^HIGETJREHcRJSETJHGTJR y|_eDFVQIDEFJEH}^HS_HTJEHhSEUJEHjDEEHpRJSETIWVDpFdQWVHSEFJRHTQJHOR_JHnSHEJV_JEHSETH_QFHQV_H}HTJ_HPSURQppHTJRHLfIWVJRHJEFUJVJETH}HQE TJRHOEGE|_QFfFHTJRHjDIIJHSEFJRnSFDSWVJEg
ZJRHeRJ]fRJHOSpFRDUHTJIHLQ__JdI mQEJ_HVGWVRDEUQUJEHcSE]FQGEfRHTJIHld|_eQIWVJEH[G_QFJJIHQIFHTJRHUJEQDdJHeJTDE]JHUJ]G__JE^HQEHPS]SEpFHIGddFJEHTQJHdJdFS_IeDEEJETJE IeGRFdQWVJEHfJFF]f_epJHESRHQEHyFDDFJEHDSIUJFRDUJEHdJRTJE^HTQJHTJEHOEIeRzWVJEHbGEHjJEIWVJERJWVFJEHSETHdJIFdQWVJRHZJ_G]RDFQJ JEFIeRJWVJEgHZD_QFHdzRTJHhJTGWVHTQJHPDVdHTJRHGSDdQpQnQJRFJEH9JRDEIFDdFJRHDSpHJQEJHJKFRJ_H8JIWVJQTJEJHOEnDVdHTJRHIGUJEDEEFJEH9gd]JRpD_QdQJ RJTSnQJRFgHZDIHOFdDEFQIWVJHozETEQIHIGddFJHIQWVHEQWVFHdfEUJRHS_HTQJHmR]JEEFEQIHVJRS_IFJVdJE^HTDvHEQWVFHESRHUJdQIIJH\RGnJTSRJEHTJI \DRdD_JEFDRQI_SIHQVRJHcRDUdzRTQU]JQFHGppJE8DRJE^HIGETJREHTDvHTJRHeDSIWVDdJHoJURQppHlZJ_G]RDFQJY^HTJRHQ_H]dDIIQIWVJEHeRQJWVJEdDETHDddJI DETJRJHDdIHJQEJEHMTJDdnSIFDETH_JEIWVdQWVJEHPSID__JEdJ8JEIHTJpQEQJRFJ^HJQEJRHUdG8DdJEHmRGIQGEHDSIUJIJFnFHQIFgH{_HESRHJQEHURQppQUJIHoJQIeQJdHnS JRdfVEJEqHMEHyWVdDRnDpRQ]DHQIFHTQJHFRQ8DdQIFQIWVJHoQETSEUHSETH9JRepdQWVFSEUHTDIHG8JRIFJHSETHJK]dSIQbJHeJIJFnHeGdQFQIWVJEH[RfpFJ_JIIJEIg oJQHTJRHz8JRdQJUJETHEJUDFQbJEHoJRQWVFJRIFDFFSEUHTJSFIWVJRH\GdQFQ]JRHSETH\S8dQnQIFJEHz8JRHTQJHmEFdQW]dSEUHQEHTJRH9Gd]IRJeS8dQ]HCVQEDHTzRpFJ EJ8JEHJQEJRHIWVdfR_JRQIWVJEH\RfpJRJEnHpzRHMETQJEHbGRHDddJ_HTQJHDFIDWVJHTJEHOSIIWVdDUHUJUJ8JEHVD8JE^HTDvH\J]QEUHQ_HoJURQppHIFJVF^HTQJ oSETJIRJeS8dQ]HdQRFIWVDpFdQWVHSETHQETSIFRQJddHnSHz8JRVGdJE^HQVRHTJEHwDEUHTJRH8JTJSFJETIFJEHmKeGRFEDFQGEHIFRJQFQUHnSH_DWVJE^HDSWVHdJEEHTQJ ISDdQFfFHWVQEJIQIWVJRH\RGTS]FJHGpFHEGWVHnSHdzEIWVJEHz8RQUdfvFgHO8JRHDSpHZDSJRHdJRTJEHIQWVHTQJHDdIH8JdJQTQUFJH9JRdQJRJRHDSpFRJFJETJE METSIFRQJddJEHDSIHmSRGeDHSETHO_JRQ]DHEQWVFHTD_QFHVJRDSIRJTJEH]gEEJE^HTQJHmR8JEHjDGHPJTGEUIHIJQJEHndDRHSEz8JRFRJppdQWVJHjJQIFJRHTJR NDWVDV_SEU^HD8JRHnSHJQUJEJRH[RJDFQbQFfFHESRHQEHUJRQEUJ_HjDvJH8JpfVQUFgHjQFHIGdWVJEHoJVDSeFSEUJEHbJRISWVFH_DE^HSEIJRHfQIIJEHS_HTDI JRpQETJRQIWVJHeJEQJHnSHbJRTRfEUJE^HTDIHTJ_HwJQWVHTJRHjQFFJHndJQH`DVRFDSIJETJHdDEUHUJUJEz8JRHTJ_HO8JETdDETHJQEJEHTJSFdQWVJEH9GRRDEU bJRIWVDppFJg NGWVHbJRIFJQpJEHIQWVHTQJHOSUSRJEHTJIHfJIFJEIHDSpHTQJHoJVDSeFSEU^HTDvHIQWVHTJRHDIQDFQIWVJHeQUDEFHESRHSEFJRH9JRnQWVFHDSpHIJQEJHIGnQDdQIFQIWVJ MTJGdGUQJHnSHJQEJRHRzTJEHcGR_HTJIHcRzV]DeQFDdQI_SIHTSRWVUJRSEUJEHVD8J^HdQJHJRHbGEHZQW]JEIHQ_HbQ]FGRQDEQIWVJEHmEUdDETHGTJRHbGEHè_QdJHPGdD QEHTJEHeRS8JERJbQJRJEHNGRTpRDE]RJQWVIHUJIWVQdTJRFHdSRTJgHMEndQIWVJEHVD8JEHTQJHbgddQUHSEJRdDRFJFJHcQEDEn]RQIJHTJIH`DVRJIHabbSHSETHTQJ TRGVJETJHwJnJIIQGEHQEHTJRHwJDddQRFIWVDpFHTQJHJKFRJ_JHcRDUQdQFfFHTJRHDEUJdIfWVIQIWVxWDdbQEQIFQIWVHDSIUJRQWVFJFJEHcQEDEn]GEnJeFJH8dGvUJdJUFgHME TJRH8RJQFJEHéppJEFdQWV]JQFHTJIHfJIFJEIH]G__FHTJRH9JRTDWVFHDSp^HTDvHTQJHhzEUIFJEHOSIdzWVIJHTJIHIeJ]SdDFQbJEH9D8DEGSJIeQJdIHTJE
OEpGRTJRSEUJEHJQEJRHDEpDEUIHz8JRIWVdJEUdQWVHUJeRQJIJEJEHedG8DdQIQJRSEUHEQWVFHUJdDWVIJEHIQETg fJRHVfFFJHbGRHnJVEH`DVRJEHbGRDSInSIDUJEHUJdDUF^HTDvHNJdHJGR]HSETHHGETGEHTDIHLJQdHQVRJRHogRIJEHQEHTJRH9JRIFDDFdQWVSEUHJQEQUJR eRGv8DE]JEHISWVJEHdzRTJE^HTDvHTQJHSE8JURJEnFJHfDWVIFS_IxmSeVGRQJHTJRHcRQJT_DExyWVSdJHSETHQVRJRHCVQWDUGHoG|IH_QFHJQEJ_HyWVdDUHRJWVF DdF_GTQIWVHDSIIJVJEHdzRTJ^HdfVRJETHJQEJHwzW]dJETSEUHnSH`GVEHjD|EDRTH[J|EJIHSETHIJQEJRHVJIJHTJIHlTJpQWQFHIeJETQEUYHEJSJEHPSIeRSWV UJdfEEJ eJRDTJnSHTJ_zFQUJETHpzRHTQJHJSRGefQIWVJEHLDIDRTJSRJHTJRHlNJdHmWGEG_|YHQIFHTQJHDFIDWVJ^HTDvHTJRHSEUJ8RGWVJEJHfQRFIWVDpFIDSpIFQJU CVQEDIHdJQFHdJEQUJRHTSRWVHTQJHDddUJ_JQEJHwDFdGIQU]JQFHSETH[DFDIFRGeVJEIFQ__SEUH8JFRGppJEHdDRHDdIHTQJHy|IFJ_JHTJRHz8RQUJEHURGvJE METSIFRQJEDFQGEJEgHZQJHoDE]HGpHCVQEDHQIFHQEpGdUJHJQEJRHUJdDdFQUJEHOEVfSpSEUHD_JRQ]DEQIWVJRHfJRFeDeQJRJ^HyWVDFnDEdJQVJEHSETHZGddDRRJIJRbJE JQEHdJ8JEIdQWVFQUJRH\DRFEJRHTJRH9JRJQEQUFJEHyFDDFJEHbGEHO_JRQ]DHSETHpzRHJQEJHJbJEFSJddJHyFD8QdQIQJRSEUH8JnQJVSEUIdJQIJH[GEIGdQTQJRSEUHTJR {yxé]GEG_QJHSEJEF8JVRdQWVHUJdGRTJEgHZQJHmSRGefJRHIQETHTJ_UJUJEz8JRHDSpHJQEJHndJQFRDEUQUJH\GIQFQGEHnSRzW]UJpDddJEg ZDvHTDIHUJdDdFQUJHwJQWVHTJRHjQFFJHbGRHPJRRJQveRG8JEHEQWVFHUJpJQFHQIF^HTJIIJEHTzRpFJHIQWVHTDIH\DRFJQ]GddJ]FQbHTJIHeJEJRDdIJ]RJFfRIHLSH`QEFDG^ TJIIJEHQEFJREJHyeDEESEUJEHIJdFJEHEDWVHDSvJEHTRQEUJE^HIJVRHdGVdH8JdSvFHIJQEgHZJRHlZRDWVJEIGVEY^HTJRHUGFFfVEdQWVJH[DQIJRHQEHTJRH9JR8GFJEJE yFDTF^H_SvFJHIFJFIH8JpzRWVFJE^HTDvH}HDdIHcGdUJHbGEHNDFSR]DFDIFRGeVJE^HDT_QEQIFRDFQbJRHjQvdQRFIWVDpFHGTJRH_QdQFfRQIWVJEHNQJTJRdDUJEH}HTDIH9Gd] IQWVHUJUJEHQVEHDSpdJVEFJHSETHJRHIJd8IFHTJIHlOSpFRDUIHTJIHLQ__JdIYHbJRdSIFQUHUQEUgHZDHVDdpHJIHQV_HDSWVHEQWVF^HTDvHhJTJIHIJQEJRHZJ]RJFJH_QFHTJR fJQISEUHlPQFFJRJHSETHUJVGRWVJXYHJETJFJg yGHdDRHTJRH]RQJUJRQIWVJHS_SdFHTJRHlwGFJEHSR8DEJY^HTJRHQ_HbQJRnJVEFJEH`DVRVSETJRFHTJRH_GEUGdQIWVJEHcRJ_TVJRRIWVDpFHTJRHJSDEx Z|EDIFQJHJQEHmETJHIJFnFJ^HOSITRSW]HTJRHUJ8DddFJEH{EnSpRQJTJEVJQFHTJIH9Gd]JIgHmRHdDRHTSRWVHTQJHfzVdDR8JQFHbGEHeJVJQ_UJIJddIWVDpFJE^HTJRJE yFRS]FSRJEHIQWVHSEFJRHTJ_HND_JEHlRQDTJEYH8QIHDSpHTJEHVJSFQUJEHDUHJRVDdFJEHVD8JE^HbGR8JRJQFJFHdGRTJEg yWVGEHFDSIJETH`DVRJHnSbGRHVDFFJHJQEJHORFHWVQEJIQIWVJRHloSETIWVSVYHTJRHleJd8JEHSR8DEJYHTQJH]DQIJRdQWVJHLJRRIWVDpFHJRIWVzFFJRFgHczRHTJE oJIFDETHTJIHwJQWVJIHIFJddFJHTQJH]SRnHTDRDSpHpGdUJETJH_|IFQIWVJHjDIIJE8JdJUSEUHTJRHleJd8JEH[GepFzWVJRYHhJTGWVHJQEJHdJQFHURgvJRJHeJpDVR TDR^HJEFIeRDWVHIQJHTGWVHJQEJ_HLDEUHnSH_DUQIWVJRHyJ]FJE8QdTSEU^HTQJHQ_HDGQI_SIHdSRnJdFJHSETHUJUJEHTQJHjQvIFfETJHTJIH]GEpSnQDEQIWVJE jDETDRQEDFIHDEIFzR_FJg NGWVHQ_HEJSEnJVEFJEH`DVRVSETJRFHdfRJHTQJHjDETIWVSxZ|EDHIFQJHpDIFHbG_HVRGEHUJpJUFHdGRTJE^HDdIHTJRHoDSJREIGVEHLGEUHZQSGSDEHIQWVHQE IJQEJ_HRJdQUQgIJEHfDVEHDdIHhzEUJRJRHoRSTJRH`JISHCVRQIFQHDSIUD8gHmRHeRJTQUFJHTQJHlDddUJ_JQEJHedJQWVVJQFHDSpHmRTJEY^HTQJH_DEWVJHmdJ_JEFJHTJR _DGQIFQIWVJEHPdDEUI]GddJ]FQbQJRSEUHDSpHbJR8dzppJETJHfJQIJHbGRdJUEDV_gHNDWVHJQEJRH\JRQGTJHSEIfUdQWVJRHeRJSJdHSETHjDIID]JR^HTQJHpDIF pzEpnQUH`DVRJHDETDSJRFJ^HdSRTJHTJRH{ISReDFGR^HTJRHIQWVHTJEHQFJdHJQEJIHlLQ__dQIWVJEH[gEQUIHTJIHLQ__dQIWVJEHwJQWVJIHTJIHcRQJTJEIYHnSUJdJUF VDFFJ^HDSIHIJQEJ_HwJUQJRSEUIIQFnHNDE]QEUHbJRFRQJ8JEgHmIHVDFFJHJQEJIHOSpUJ8GFIHJSRGefQIWVJRHygdTEJRHSETHO8JEFJSRJRHSEFJRHTJ_HoJpJVdHTJI 8RQFQIWVJEHeJEJRDdIHeGRTGEH8JTSRpF^HS_HTQJHDQeQEUxwJbGdFJH}HSEFJRHTQJIJ_HND_JEHQIFHIQJHQEHTQJHeJIWVQWVFJHJQEUJUDEUJEH}HQ_HodSFHnS JRIFQW]JEg ZQJHTJRnJQFQUJHyFDDFIpzVRSEUHdJQv^HTDvHTQJHDEIGEIFJEHIGHEzWVFJREHSETHeRDU_DFQIWVHdQR]JETJHwDIIJHTJRHLDEHUJUJEHUJdDdFID_HDSISpJRETJ OEdDETdSEUJEH_|IFQIWVJR^HWVQdQDIFQIWVJRHLQREUJIeQEIFJH]JQEJIdJUIHUJpJQFHQIFgHyGHdfvFHIQWVHQEHSEIJRJEHDUJEHTQJHSEJR8QFFdQWVJH9JRpGdUSEUHTJR cDdSExeGEUxyJ]FJHJR]dfRJEgHjQFHDddJEHjQFFJdEHbJRISWVFH\J]QEUHnSHbJRVQETJRE^HTDvHTJRH8JDWVFdQWVJHPSdDSp^HTJEHcDdSEHeGEUHbGRHDddJ_H8JQHTJR `SUJETHpQETJF^HIQWVHEQWVFHnSHJQEJRHEJSJEHeIJSTGxRJdQUQgIJEHmRdJW]SEUI8JdJUSEUHDSIdJQFJFg cRJ_TVJRRIWVDpFHQIFHTJEHCVQEJIJEHEQWVFHJRIeDRFHUJ8dQJ8JEgHOSIHfJIFJEH]G__JET^HJRG8JRFJEHTQJH_GEUGdQIWVJEHmR8JEHZIWVQEUQIH[VDEIHTDI wJQWVHTJRHjQFFJHSETHbJRVDdpJEHQV_HSEFJRH[DQIJRH[S8dDQH[VDEHnSH8JDWVFdQWVJRHmKeDEIQGEgH[EDeeHTRJQVSETJRFH`DVRJHIefFJRHIFzR_FJEHTQJ jDETIWVSxLGRTJEHDSIHNGRTJEHVJRDEHSETH8J_fWVFQUFJEHIQWVHTJIH\J]QEUJRHZRDWVJEFVRGEJIgHMVRJHD_HmETJHTJ]DTJEFJHSETHQEH\DdDIFQEFRQUJE JRIFQW]JETJHJSDExZ|EDIFQJHdSRTJHJRIFHQ_H`DVRJHhihhHEDWVHTJRHOSIRSpSEUHTJRHwJeS8dQ]HTSRWVHySEHJDFIJEHDSIHTJRH9JR8GFJEJEHyFDTFHbJRFRQJ8JEg O8JRHTQJHTJRHLDExwDIIJHSETHQVRJRHPQbQdQIDFQGEHQEEJdGVEJETJH[RDpFHJRdQJIHIQWVHDdIHIGHUJdDdFQUHSETHz8JRdJUJE^HTDvHTQJHmQETRQEUdQEUJH8QEEJE ]SRnJRHPJQFHJQEJRHFGFDdJEHOIIQ_QdDFQGEHJRdDUJEHSETHIf_FdQWVJHoRfSWVJHSETHwQFJEHTJIH]GEpSnQDEQIWVJEHLGpJIHz8JREDV_JEg MEHTQJIJEHUJIWVQWVFdQWVJEH\RzpSEUJEH]D_HTJEHCVQEJIJEHnSUSFJH}HIGHSEFJRIWVQJTdQWVHQVRHOSIIJVJEHndQIWVJEHTJRHLGDEUxLGxm8JEJHSETHTJE oJRUJEHJzEDEIHDSWVHIJQEH_GWVFJ^HIGHIJVRHIQJH8QIdDEUHTSRWVHTQbJRIJHyeRDWV8DRRQJRJE^HTQJHJRIFHVJSFJHTSRWVHTQJHG8dQUDFGRQIWVJHmQEpzVRSEUHTJI jDETDRQEHz8JRdSETJEHdJRTJE^HUJFRJEEFHdDRJEH}^HTDvHIQJHIQWVHIFJFIHDddJEHDETJRJEH9gd]JREHTJIHmRT8DddIHdJQFHz8JRdJUJEHpzVdFJEgHZQJ eJRQEUIWVfFnSEUHDddJRHcRJ_TJEH_DWVFHz8RQUJEIHDSWVHbGRHTJEHmSRGefJREHEQWVFHVDdF^HdQJHhJTJRH8JIFfFQUJEH]DEE^HTJRHUJdJUJEFdQWVHbGEHIJQEJR JRnzREFJEHWVQEJIQIWVJEHeJdQJ8FJEHDdIHlRJTpDWJTHoDR8DRQDEYH8JIWVQ_epFHdSRTJg jDEH_DUHJQEdJETJE^HTDvH}HS_HQ_HGIFDIQDFQIWVJEHwDS_HnSH8dJQ8JEH}HTQJH9QJFED_JIJEH_QFHfVEdQWVJRHeJRQEUIWVfFnSEUHDSpHTQJHDRFpRJ_TJE eJ8QRUIbgd]JRHVJRD88dQW]JE^HTQJHIQJHDdIHljGQY^HDdIHfQdTJ^H8JnJQWVEJFJE^H8QIHTQJHO_JRQ]DEJRHpzRHIQJHTDIHpRDEngIQIWVJHfGRFHljGEFDUEDRTIY z8JREDV_JEgHyGUDRHTQJHIDEpF_zFQUJEHHDGFJEHISWVFJEHTQJHJFVEQIWVJEHeJUJEIfFnJHQVRJIH]dJQEJEHjJ]GEUxyFDDFJIHnSHz8JRdQETJE^HQETJ_HIQJHTQJ pRJ_TRDIIQUJEHjJG^HJDGHGTJRH[VDH]SRnJRVDETHnSHlHDGHVJSEUY^HHDGFJEHTJRHoJRUVfEUJ^HTJ]dDRQJRFJE^HfVEdQWVHdQJHOFDFzR]HQ_HpJREJEHOEDFGdQJE DSIHIJQEJEH]SRTQIWVJEH{EFJRFDEJEHloJRUFzR]JEYHUJ_DWVFHVDFFJgHZQJHJEFIWVJQTJETJHZQppJRJEnH8JIFJVFHDddJRTQEUIHTDRQE^HTDvHIQWVHTJR ySeJRQGRQFfFI]G_edJKHTJRHLDEHDSpHTQJHUDEnJHz8RQUJHjJEIWVVJQFHJRIFRJW]FHSETHIQJHnSHeGFJEFQJddJEH9DIDddJEHQVRJRHRQJIQUJEHmQEnQUDRFQU]JQF VJRD8IFSpFg ZDIHFgRQWVFJHeJRJTJHbGEHTJRHlUJd8JEHeJpDVRYHVDFHbGRHDddJ_HQEH{yOHEJSJHO]FSDdQFfFHUJdGEEJEgHfQJHIfVJHIQJHdGVdHDSI^HTQJHWVQEJIQIWVJ fJdFVJRRIWVDpF^HTQJH_DEWVJH\VDEFDIFJEH8JRJQFIHDEHTQJHfDETH_DdJEHmQEJHl\DKHyQEQWDYHdzRTJHbJR_SFdQWVH]DS_HdfEUJRHTDSJREHDdIHTQJHl\DK O_JRQWDEDY^HTQJHUJRDTJHnSHmETJHUJVFgHyQJH8gFJHDSWVH]JQEJRdJQHeJdfVRHTDpzR^HTDvHIQWVHSEFJRHQVRJRHKUQTJHJQEJHVDR_GEQIWVJH[GEbQbQDdQFfFHSET JQEJHpzRHDddJHJRIeRQJvdQWVJHPS]SEpFHJQEIFJddJEHdzRTJgHO8JRHVzFJEHdQRHSEIHbGRHTJEHyWVQ_fRJEHTJIHbJRIFGR8JEJEH[DQIJRIHfQdVJd_HMMg
M_eJRQDdJHNGIFDdUQJ
czRHeGdQFQIWVJHMEpGR_DFQGEIUJIeRfWVJHQEH\J]QEUH8dQJ8HEQWVFHbQJdHPJQFHEDWVHTJEH{_8SWVSEUJE^HTQJHQWVHbGRUJEG__JEHVDFFJgHMWVHFRgIFJFJH_QWV TD_QF^HTDvHQWVHhJEIJQFIHTJRHz8dQWVJEHcRJSETIWVDpFI8JFJSJRSEUJEHz8JRHTJEHwzIFSEUIIFDETHTJRH9Gd]I8JpRJQSEUIDR_JJHGVEJVQEHEQWVFIHwJdJbDEFJI JRpDVRJEHVfFFJgHZQJHQEH\J]QEUHD]]RJTQFQJRFJEH9JRFJQTQUSEUIxOFFDWV[IHTJIHfJIFJEIHdJRTJEHI|IFJ_DFQIWVHbGEHhJTJRHRJDdQIFQIWVJEHmQEIWVfFnSEU
D8UJIWVQR_FHGTJRHUDEnHUJnQJdFH_QFHpDdIWVJEHOEUD8JEHUJpzFFJRFg MWVH8DFHTDIHLGFJdeJRIGEDd^HTQJHJdJpGEES__JRHJQEJIHDdFJEH[GddJUJEHDSIHTJRHPJQFHTJIHD_JRQ]DEQIWVJEH9QJFED_]RQJUJIHDSIpQETQUHnSH_DWVJE^ JQEJIH8RQFQIWVJEHlyWVdDWVFRGIIJIY^HTJIIJEHeRGpSETJH[JEEFEQIHTJIHcJREJEHlIFJEIH_QWVHIFJFIH8JJQETRSW]FHVDFFJgHyJQEJHLJQRDFH_QFHJQEJRHyQEUDeSRx CVQEJIQEHVDFFJHQV_HDSWVHJQEJEHPSUDEUHnSRHWVQEJIQIWVJEHjJEFDdQFfFHbJRIWVDppF^HTQJHTJEH_JQIFJEHOSIdfETJREHbJRIWVdGIIJEHQIFg NDWVHmRRJQWVJEHTJRH8JRSpdQWVJEHOdFJRIURJEnJHdDRHZJRRQW]HSREJRHDdIHcRJJdDEWJRHQEH\J]QEUHUJ8dQJ8JEgHZJRHhGbQDdJ^HQ__JRHEGWVHRG8SIFJ
mEUdfETJRHIFDETHQ_HwSp^HpzRHTJEH8RQFQIWVJEHOSIdDETITQJEIFHjMTHJQEJHdJRFbGddJHNDWVRQWVFJEGSJddJHnSHIJQEgHNDWVHdfEUJRJ_HySWVJEHJEFTJW]JHQWV IJQEHTQI]RJFJIHozRGHQEHJQEJ_HTJRH_GEIFRgIJEHLGWVVfSIJR^HTJRJEHyeQFnJHQEHTJRHUJd8JEHZSEIFUdGW]JHTJRHLDSeFIFDETHbJRIWVdQETJFg NQWVFIHbJR8QETJFHIGHIJVRHdQJHUJ_JQEID_JHmRdJ8EQIIJHDSpHJKGFQIWVJEHyWVdDWVFpJdTJREgHfQRHIQETH8JQTJHUJDdFJRF^HD8JRHTQJHLJRndQWV]JQFHQIFHIWVEJdd dQJTJRVJRUJIFJddFgHZJRRQW]HUJVgRFHnSHhJEJRH[DFJUGRQJHbGEHlUJEFdJ_JEHDTbJEFSRJRIY^HTQJHVJSFJH]DS_HEGWVHDEnSFRJppJEHQIFHSETHpzRHTQJ EDWVdDWVIJETJHeJEJRDFQGEHIGHpRJ_TH8dJQ8FHdQJH[QedQEUIHlZJRHjDEE^HTJRH[gEQUHIJQEHdGddFJYgHyJQEJHWVQEJIQIWVJHmVJpRDSHySJ|HIJRbQJRFHSEI dfWVJdETHSETHTQI]RJFHTJEHJJHSETHbJRnQJVFHIQWVHTDEEHQEHQVRJHfGVEUJ_fWVJRgHlmIHQIFHIJdFID_Y^H8J_JR]FHZJRRQW]^HlTDvHQWVHJQEJHUDEnJHwJQVJHbGE mSRGefJREHSETHO_JRQ]DEJREHUJFRGppJEHVD8J^HTQJH_QFHgWVFJREHTJRHLDExwDIIJHbJRVJQRDFJFHSETHQ_HDddUJ_JQEJEHTD_QFHRJWVFHUSFHUJpDVRJEHIQETg LQEUJUJEHIQETH_QRH]DS_HWVQEJIQIWVJHjfEEJRH8J]DEEF^HTQJHJQEJHfJQvJHUJJVJdQWVFHVD8JEgY fQRHJRdfVEJEH8JQdfSpQUHTQJHRDIIQIWVJEH9GRSRFJQdJ^HTQJH8JQHTJEHlLQ__JdIIgVEJEYH_QETJIFJEIHIGHdJQFHbJR8RJQFJFHIQETHdQJHQ_HfJIFJEgHffVRJET QWVH_QWVHQEHTQWVFHUJTRfEUFJEHDIQDFQIWVJEHjDIIJEHEQJ_DdIHTSRWVH[gReJRUJRSWVH8JdfIFQUFHpzVdJ^HEJV_JEHTQJHCVQEJIJEH8JQHTJEHfJQvJEHIeJnQJddJ OSITzEIFSEUJEHdDVRgHZJRRQW]IHcRDSHySJ|HVDFFJHQ_HyWVJRnHJRdfVEF^HTDvHQVRHjDEEHfVEdQWVHRQJWVJHdQJHQVRHVJQvUJdQJ8FJRHLSETHZRDUGE^H8JQHTJ_ _DEHIFJFIHDSpHTJRHLSFHIJQEH_zIIJ^HTDvHJRHEQWVFHDdIHHJW]JR8QIIJEHQEHJQEJ_HWVQEJIQIWVJEH[GWVFGepHJETJEHdJRTJgHczRHDETJRJHgWVFJRHTJRHLDEx wDIIJ^HIGHVDFFJHQWVHJRpDVRJE^HIWV_JW]JHTJRHfJQvJHQRUJETdQJHEDWVHjQdWVHGTJRHoSFFJRg NDWVTJ_HySJ|HTQJHJJ]DEEJHTSRWVHJQEJHfVQI]|pdDIWVJHJRIJFnFHVDFH}HUdzW]dQWVJRdJQIJHbJRnQWVFJFHZJRRQW]HDSpHeQEHDETHGEQW^HTDI yFDETDRTUJFRfE]HJEUdQIWVJRH`GSREDdQIFJE^HTDIHIQJHQEHRQJIQUJEHedfIJREHQEHIQWVHVQEJQEnSIWVzFFJEHepdJUJEH}^H]G__JEHdQRHnSRHyDWVJgHlyJVRHEzFndQWV ]DEEHQWVHTQRH_QFH_JQEJEH[JEEFEQIIJEHz8JRHTQJHWVQEJIQIWVJEHwzIFSEUIpGRFIWVRQFFJHEQWVFHIJQEY^HUJIFJVFHTJRH8RQFQIWVJH[GddJUJgHlOSIHRJQEJR cRJSETdQWV]JQFH8QEHQWVHbGRHJQEHeDDRHfGWVJEHnSHJQEJ_HURGvJEHjDEgbJRHJQEUJdDTJEHdGRTJE^H8JQHTJ_HDEIGEIFJEHESRHTQJHjQdQFfRDFFDWV[IHTJR TQbJRIJEHoGFIWVDpFJEHnSUJdDIIJEHdDRJEgHZQJH9Gd]I8JpRJQSEUIDR_JJHVDFHSEIH8JQHTQJIJRHeJdJUJEVJQFH_QFHDddJRHZJSFdQWV]JQFHnSHIezRJEHUJUJ8JE^ TDvHIQJHIQWVHEQWVFHQEHTQJH[DRFJEHIWVDSJEHdfvFgHZQJHTGEEJRETJEHi8SEUJE^HTQJHSEIHTGRFH_QFHpQEUQJRFJEH\DEnJRIWVdDWVFJEHSETHORFQddJRQJTSJddJE bGRUJpzVRFHdSRTJE^HdDRJEHIGHDdFJRFz_dQWVHSETH]GEbJEFQGEJdd^HDdIHUJdFJHJI^HEGWVHJQE_DdHTQJHOR_JJHIWVQDEUH[DQIWVJ]IHSETHIJQEJRH[SG_QEFDEU nSH8JIQJUJEgH9GEHQRUJETJQEJRHOEeDIISEUHDEHTJEHVDI|__JFRQWHdDRWHTJRHeJUJEdDRFHdDRHhJTJEpDddIH]JQEJHyeSRHnSHJEFTJW]JEgY LQEUJUJEHQIFHTJ_H8RQFQIWVJEH[GddJUJEHbGEHD_JRQ]DEQIWVJRHyJQFJHJQEJHyFSTQJHnSUJIeQJdFHdGRTJE^HTQJHbGRHJQEJ_HTRD_DFQIWVJEHjDWVFbJRpDddHTJR {yOHdDREF^HpDddIHJIHTJ_H\JEFDUGEHEQWVFHUJdfEUJ^HQ_H9JR8SETH_QFHTJEHyFRJQF]RfpFJEHTJRHMETQIWVJEH{EQGEHJQEHeJUJEUJdQWVFHnSHTJEHO_8QFQGEJE CVQEDIHVJRnSIFJddJEgHNSEHEJQUJEHTQJHD_JRQ]DEQIWVJEHCVQJpIxGpxyFDppHIJQFHdDEUJ_HTDnS^HTDIHnSEJV_JETJH_QdQFfRQIWVJHeJdQWVFH\J]QEUIHQEI eQUDEFQIWVJHnSHIFJQUJRE^HS_HpzRHTJEHJQUJEJEH_DvdGIJEH[RJTQF8JTDRpHTQJHPSIFQ__SEUHTJIH{yx[GEURJIIJIHnSHJRdDEUJEgHZJRRQW]HJRIWVJQEFHTJR bGRdQJUJETJHyQFSDFQGEI8JRQWVFHTJEEGWVHQEFJRJIIDEF^HdJQdHJRHTDIHIFRDFJUQIWVJHyWVdJRUJdQWVFHbG_HOFdDEFQ]HSETHIGUDRHbG_H\DnQpQ]HdJUHDSpHTQJ cdSFJEHTJIHMETQIWVJEHlnJDEIHbJRdDUJRFg ZDIHZG]S_JEFHljDRQEJHCGReIH9QIQGEHDETHyFRDFJU|HabaYH8JFGEFHTQJIJH{_IWVQWVFSEUH_QFHNDWVTRSW]gHNDFzRdQWVHdQRTHQEHTQJIJ_ PSID__JEVDEUHDSpHhJEJHUJdDdFQUJHOR_DTDHbJRdQJIJE^HTQJHQ_HbQJRnJVEFJEH`DVRVSETJRFHnSRHPJQFHTJRHjQEUxZ|EDIFQJH_QFHQVRJEHRQJIQUJE ZIWVSE]JEHDddJHbJRpzU8DRJEHcdGFFJEHhJEJRHPJQFH8JQHdJQFJ_Hz8JRRDUFJgH{EFJRHTJ_HoJpJVdHTJIHmSESWVJExOT_QRDdIHPVJEUHLJHz8FJHIQJHTQJHD8IGdSFJ yJJVJRRIWVDpFHndQIWVJEHCVQEDHSETHMETGEJIQJE^HyRQHHDE]DHSETHTJ_H\JRIQIWVJEHeGdpH8QIHVQEHnSRHlIF]zIFJHOpRQ]DIHDSIgHZQJH9GR_DWVFIFJddSEU^ z8JRHTQJHTQJH{yOHDSpHIf_FdQWVJEHlnJDEJEHEGWVHbJRpzUFJE^HIJQHnJQFdQWVHJ8JEIGH8JURJEnFHdQJHTQJHOdd_DWVFHTJRH8RQFQIWVJEHwG|DdHNDb|^HTQJHVJSFJ JQEJHUJRQEUJRJHcJSJR]RDpFHDSpnS8QJFJEHVD8JHDdIHTQJHpRDEngIQIWVJHjDRQEJHNDFQGEDdJgHZQJHPDVdHTJRHD_JRQ]DEQIWVJEH[RQJUIIWVQppJHIJQHIJQFHTJ_HmETJ TJIHPdJQFJEHfJdF]RQJUIHbGEHhTbbHDSpHJFdDHLbbHUJIWVRS_epFgHZJ_HIFJVJHJQEJHRDIDEFJH9JR_JVRSEUHTJRHWVQEJIQIWVJEHcdGFFJHUJUJEz8JRg ZQJHHG88|QIFJEHTJIH_QdQFfRQIWVxQETSIFRQJddJEH[G_edJKJIHQEHfDIVQEUFGEHdzRTJEHndJQpJddGIHdJQFHz8JRFRJQ8JE^HIGH_JQEFHZJRRQW]^HdJEEHIQJHTJR 9Gd]IRJeS8dQ]HCVQEDH8QEEJEHJQEJRHZJ]DTJHJQEJHJRTRzW]JETJH_DRQFQ_JHi8JRdJUJEVJQFHnSFRDSJEgH9GRHDddJ_HTJRHmRdJR8HbGEH{xoGGFJEHz8JRFRJppJ hJTGWVHTDIHJEFIeRJWVJETJHD_JRQ]DEQIWVJH\GFJEFQDdHS_HTDIHczEppDWVJgHZDnSHUJIJddJHIQWVHJQEJHpGR_QTD8dJHmEFdQW]dSEUHEJSdJRFQUJRHyJJ_QEJE^ eJRpJ]FQGEQJRFJRHRfUJRdDppJEHSETHbGRHDddJ_HJQEJRHDSIUJpJQdFJEHCG_eSFJRFJWVEGdGUQJ^HTQJHDSpHTQJHHfV_SEUHTJRHD_JRQ]DEQIWVJE [G__DETGI|IFJ_JHQ_HcDddJHJQEJIHUQUDEFQIWVJEHC|8JRHfDRHVQEnQJdJg ZQJIJH[DIIDETRDxwSpJHdJRTJEHRJdDFQbQJRFHTSRWVHTQJHDFIDWVJ^HTDvHTQJHWVQEJIQIWVJHOT_QRDdQFfFHEGWVHz8JRH]JQEJEHJQEnQUJEHcdSUnJSUFRfUJR bJRpzUFgHZGWVHTQJHyJJIWVdDWVFJEHTJRHPS]SEpF^HIGHbJR_SFJFHTJRHQIRDJdQIWVJHjQdQFfRJKeJRFJHjDRFQEHbDEHCRJpJdT^HdJRTJEHEQWVFH_JVR^HdQJHQ_H[RQJU UJUJEH`DeDE^HTSRWVHTQJHIFfVdJREJEH{EUJVJSJRHTJRHOQRHcGRWJHCDRRQJRHJEFIWVQJTJEgHZQJHeJpfVRTSEUHTJRHcdSUnJSUFRfUJRHTSRWVHTQJHmEFdQW]dSEU UJRfSIWVdGIJRH{xoGGFJHTzRpFJHTJRJEHoJTJSFSEUHTRDIFQIWVHRJTSnQJRJE^HSETHTJRH9JRUdJQWVH_QFHTJEH8RQFQIWVJEHySeJRxyWVdDWVFIWVQppJEHTJIHmRIFJE fJdF]RQJUJI^HTJEHlZRJDTEGSUVFIY^HTQJHnSH]JQEJ_HIQEEbGddJEHmQEIDFnHUJdDEUFJE^HIJQHDEUJ8RDWVFg i8JRIWVfFnFHfDIVQEUFGEHEQWVFHTQJHoJRJQFIWVDpFHMETQJEI^HQEHTQJHoRJIWVJHnSHIeRQEUJE^HTQJHZJdVQHTSRWVHTJEHPSIFDETHO_JRQ]DIHDdIHlIdGdd| TJWdQEQEUHVJUJ_GEYHnSUJdQJIJEHdQRTH[DEEHMETQJEHJQEHEJSJIH_QdQFfRQIWVJIHyWVdJRUJdQWVFH8QdTJEHQEHJQEJRHleGIFxO_JRQWDEHdGRdTYHZQJ pGRIWVJEHOSIIDUJEHTJIHQETQIWVJEH\dDEJRIHwDhDHjGVDEHDSIHTJ_H`DVRHabbTH]dQEUJEHRJWVFHDE_DvJET^HdJEEHJRHbGRUQ8FqHlMETQJEHVDFHEQJ_DdIHDSp JQEJHD_JRQ]DEQIWVJHmRdDS8EQIHUJdDRFJF^HdJEEHJIHUDdF^HJQEHeJUJEUJdQWVFHnSHCVQEDHnSH8QdTJEgY ZJRRQW]HSREJRHQIFHbGRHJQEJRHHDET]DRFJHOIQJEIHIFJVJEUJ8dQJ8JE^HTQJHJQEJHUDEnJHfDETHIJQEJIHozRGIHDSIpzddFgHmRHfSvJRFHIQWVHDdIHJRpDVRJEJR oJG8DWVFJR^HdJEEHJRHbGEHTJEHDddnSHFVJGRJFQIWVJEHyeJ]SdDFQGEJEHTJRHjQdQFfRD]DTJ_QJEHDSpHIJQEJHeJRIgEdQWVJ^HpRGEFEDVJHmRpDVRSEUHnSRzW]URJQpFg lMIFHTQRHJQUJEFdQWVHDSpUJpDddJE^HTDvHIJQFHTJ_HRQS_eVHTJRHOddQQJRFJEHz8JRHZJSFIWVdDETHSETH`DeDEH]JQEHJQEnQUJRH[RQJUH_JVRHEDWVVDdFQU UJdGEEJEHdSRTJYHTGnQJRFHJRgHlyJVJEHdQRHJQE_DdHbGEHTJEH]GEbJEFQGEJddJEHeRGvJQEIfFnJEHQEH[GRJD^H9QJFED_^HTJ_HPdJQFJEHfJdF]RQJUHSETHTJ_ IGdhJFQIWVJEHmQEpDddHQEHOpUVDEQIFDEHD8H}HEQRUJETdG^HEQWVFHJQE_DdHQEHTJEH8JdDEUdGIJEHyWVDR_zFnJdEHbGEHyG_DdQD^H8JQ_HUJIWVJQFJRFJEHodSJx yFRQ]Jx{EFJREJV_JEHQ_HMRDE^H8JQHTJRHTQdJFFDEFQIWVJEHHDETSEUHQEHySJnHQ_H`DVRHhiT^H8JQ_HmQEIDFnHTJRHVCGEFRDIWHQEHNQWDRDUSDH}HbGEHTJ_ ZJ8D]JdH[JEEJT|IHQEHTJRH]S8DEQIWVJEHyWVdJQEJ8SWVFHUDEnHD8UJIJVJEH}HQIFHJIHTJEH8JQTJEHySeJR_fWVFJEHSETHQVRJEHRD8DEFJEHUJdSEUJE^HJQEJE TDSJRVDpFJEH_QdQFfRQIWVJEHmRpGdUHDEHQVRJHcDVEJEHnSHVJpFJEgHyJd8IFHTQJHMIRDJdQHIFGdeJREHIJQFHTJ_HpDFDdJEHwzW]IWVdDUHTJIHJG_x[QeeSRx[RQJUJIHbGE JQEJRHcJVdJEFIWVJQTSEUHnSRHDETJRJEgY mQEJHJQEnQUJHOSIEDV_JHIJQHnSHJRdfVEJEqHZQJHwzW]JRG8JRSEUHTJRHcDd]dDETxMEIJdEHTSRWVHeRGv8RQFDEEQJEgH{_HTQJIJIHfDUEQIHJQEnSUJVJE^ VDFFJHJIHdGVdHJQEJRHcRDSH8JTSRpF^HEf_dQWVHjDUUQJHVDFWVJRI^HD8JRHoJUJQIFJRSEUH]G__JHEQWVFHDSpH8JQHTJEH9JFJRDEJEHTJRHwG|DdHCG__DETGI^
dJEEHIQJHDEHTQJHyWVdDeeJHTJRHORUJEFQEQJRHD_HwDETJHTJRHOEFDR]FQIHnSRzW]TJE]JEgHyGH_DEWVJRHi8JRdJ8JETJHVD8JHJRIFDSEFHDSpUJVGRWVF^HDdI jDUUQJH_QFHTJEHO]nJEFJEHJQEJRHyQJUJIUgFFQEHTJEHO8IWVdSv8JRQWVFHbGRHTJ_H{EFJRVDSIH_QFHTJRHPSIQWVJRSEUHD8IWVdGv^HIQJHIJQHdJQFJRVQEHleRGST FGH8JHoRQFQIVYg M_HoGTJE]D_ep^HIGH]G__JEHdQRHz8JRJQE^HVD8JHIQWVHQ_HyzTdQ8DEGE^HQ_HMRD]^HQEHOpUVDEQIFDEHdfEUIFH8JIFfFQUF^HTDvHTQJH]GEbJEFQGEJddJ [RQJUpzVRSEUHTJRHNOlxyFf8J^HD8JRHDSWVHwSvdDETIHSETHMIRDJdI^H_QFHTJRHO8ESFnSEUIIFRDFJUQJ^HTQJHTJEH[JREHTJIHlDI|__JFRQIWVJEH[RQJUJIY 8QdTJF^HEQWVFHnSRJWVF]G__FgHZQJHSEUJVJSJRdQWVJHZSRWVIWVdDUI]RDpFHEJSJRHjGEIFJR8G_8JE^HQE]dSIQbJHTJRHl8SE]JR8SIFJRY^HVDFHIQWVHIGdGVdHQ_ LQETS]SIWVHDdIHDSWVHQ_HdJbDEFQEQIWVJEH[zIFJEUJ8QJFHDdIHSEFDSUdQWVHJRdQJIJE^HTQJHmdxIDQTDxRSeeJHlID_DH8QEHHDTJEIHGTJRHTQJHLQn8GddDVHTJI yWVJQ]VHNDIRDddDVHQEHQRUJETJQEJRHfJQIJHnSHnJR_Dd_JEg ZJRH]dDRIQWVFQUJH\RGpJIIGRHbDEHCRJpJdTHbGEHTJRHLJ8RJdH{EQbJRIQF|HQEH`JRSIDdJ_HnQFQJRFHTJEHNGRTbQJFED_JIJEHRSGEUHCVQEVHDdIH[RGEnJSUJE JQEJRHJRpGdURJQWVJEHeSJRRQddDgHoJQHTQJIJ_HeJpfVRFJEHLGHIWVQHjQEVIHVJQvFHJIqHlZDIHHJQFeRQEnQeHTJRHyFRDFJUQJHSEIJRJIHUJID_FJEHfQTJRIFDETI _SvHJIHIJQE^HTJEH[RQJUHQEHTQJHHfEUJHnSHnQJVJEgHZJEH[RQJUHnSHbJRdfEUJREHQIFHTJRHyWVdzIIJdHnS_HyQJUgHfDRS_H_SvHTJRH[RQJUHbJRdfEUJRFHdJRTJE fJQdHJIHGppJEIQWVFdQWVHQIF^HdJEEHdQRHSEIJRJH[RfpFJH_QFHTJEJEHTJIHcJQETJIHbJRUdJQWVJE^HTDvHTJRHcJQETHEGWVHIFDR]HQIFHSETHdQRHEGWVHIWVdDWVHIQETg fJEEHdQRHSEIJRJHUDEnJEHRSeeJEHQEHdJEQUJHyWVdDWVFJEHdJRpJEHSETHbJRISWVJE^HTQJHmEFIWVJQTSEUHnSHJRndQEUJE^HTDEEHdJRTJEHdQRH_QF yQWVJRVJQFHUJIWVdDUJEHdJRTJE^HSETHTJRHcJQETHdQRTHIQJUJEgHfJEEHdQRHDSpHTJRHDETJRJEHyJQFJHSEIJRJH[RfpFJH8JdDVRJE^HIQJHDSIdJQFJE^HSEIJRJ OR_JJHSETHTDIH9Gd]HDSI8QdTJE^H_QdQFfRQIWVJHD]FQ]JEHdJREJEHSETHUdJQWVnJQFQUHTQJHpJQETdQWVJEH[RfpFJHnJR_zR8JE^HTDEEHdJRTJEHdQRHIQJHIGHIJVR TJ_GRDdQIQJRJEHSETHJEF_SFQUJE^HTDvHIQJ^HIGHIFDR]HIQJHDSWVHIJQEH_gUJE^HIWVdDWVHdJRTJEHSETHTQJHNQJTJRdDUJHIQJHJRdDRFJF^HEQWVFHTJRHyQJUgY KVEdQWVHVDFFJHIQWVHLJER|H[QIIQEUJRHUJfSvJRF^HbGEHTJ_H_DEHJRVGppFHVfFFJ^HTDvHJRHTJEHnSEJV_JETHIQEEdGIJEHmQEIDFnHTJRHNOlHQEHOpUVDEQIFDE _QFH[RQFQ]Hz8JRngUJqHlZQJHlRTESEUI]RfpFJY^HIGHDRUS_JEFQJRFJHTJRHJVJ_DdQUJHOSvJE_QEQIFJRHwQWVDRTHNQKGEI^HlTQJHlRTESEUI]RfpFJHbJRdQJRJE^ dJQdHIQJHEQWVFHUJdQEEJEgHwJ8JddJEHVQEUJUJEHUJdQEEJEHTDTSRWV^HTDvHIQJHEQWVFHbJRdQJRJEgHZDIHFRQppFHdJQFUJVJETHnS^HG8HTQJHfFJRHESEHfJQvJHGTJR yWVdDRnJHIQET^HFRDTQFQGEDdQIFQIWVHGTJRH_GTJRE^H]DeQFDdQIFQIWVHGTJRHIGnQDdQIFQIWVHSETHIGHdJQFJRgHmIHUQdFHDSWVHSED8VfEUQUHTDbGE^HG8HJIHIQWVHS_ UGFFJIpzRWVFQUJHO_JRQ]DEJRHGTJRHS_HDFVJQIFQIWVJH[G__SEQIFJEHVDETJdFgY jJQEHcRJSETHSREJRHVfdFHedgFndQWVHQEEJgHmRHVDFHIQWVHnSHJQEJRHjQFFJQdID_]JQFHVQERJQvJEHdDIIJE^HTQJHpzRHQVEHUDEnHSEUJdGVEFHQIFgHlZJRHORnFHVDF _QRH_QFHwzW]IQWVFHDSpHTJEHVGVJEHodSFTRSW]HbGEHfVQI]|HTRQEUJETHD8UJRDFJE^HSETHhJFnFHJRdJ8IFHTSH_JQEJHeJIWVdfFnQU]JQFgHO8JRH_QFHdJ_HIGddHQWV _QWVHTJEEHEGWVHDSIIeRJWVJEHmFdDH_QFHSEIJRJEHjQdQFfRJKeJRFJE^HTQJH]RD_epVDpFHbJRISWVJE^HDSpHTJEHNQJTJRUDEUHSEIJRJIHm_eQRJH_QFHTJRHQVEJE DEJRnGUJEJEHVIFQppHSeeJRHdQeWHnSHRJDUQJRJEHlTJRH_QFHJQEJRHCRJdHhzEUJRJRHcJREGIFxwJeGRFJR^HTQJHIQWVHDSpHeJVJQvHQVRJRHCVJpRJTD]FJSRJHD_ DddUJ_JQEJEHVCVQED8DIVQEUWH8JFJQdQUJEY mIHIJQHTGWVHJQEHIWVfETdQWVJRHfQFn^HTDvHDEHJQEJRHyWVdzIIJdIFJddSEUHQEFJREDFQGEDdJRHyJJpDVRF^HQ_HeGdpHbGEHOTJE^HbG_HoD8xJdxjDETJ8H8QIHnS_ ORWVQeJdHTJRH[G_GRJEHJQEJHdfWVJRdQWVJHcQIWVJRJQpdGFFJHIG_DdQIWVJRHLSEUJRdJQTJRH_QFHQVRJEH8RzWVQUJEHyWVdDSWV8GGFJEHDddJQEHQ_H`DVRHabbS DEEfVJRETHVSETJRFHLDETJdIIWVQppJHSETHDE]JRHDFFDW]QJRFHSETHLHbGEHQVEJEHGVEJHEJEEJEIdJRFJHeJUJEdJVRH_QFHJQEHeDDRH[DdDIWVEQ]GdI UJ]DeJRFHVfFFJEgHMEndQIWVJEHVDFHIQWVHJQEJHQEFJREDFQGEDdJHyFRJQF_DWVFHSEUJdgVEdQWVJEHOSI_DvJI^HTDRSEFJRHDSWVHndJQHWVQEJIQIWVJHcRJUDFFJE^ TGRFHJQEUJpSETJE^HSETHJQEJIHDUJIHdJRTJHJIHTQJIJRH[GDdQFQGEHdGVdHUJdQEUJE^HTJ_HyeS]HTQJIJRHeRQ_QFQbJEH[GRIDRJE_DEEIWVDpFHJQEHmETJHnS 8JRJQFJEgHO8JRHdJdWVJRHodD_DUJHVD8JHTJRHfJIFJEHIQWVHTGRFHDSIUJIJFnFX O_HoJQIeQJdHTJRHIG_DdQIWVJEHcRJQ8JSFJRHdDIIJHIQWVHJR_JIIJE^HdJdWVJH[DFDIFRGeVJHz8JRHTQJH{yHNDb|HVJRJQE8RJWVJEH]gEEFJ^HdJEEHTDI \JEFDUGEHIQWVHnSHJQEJ_HjQdQFfRIWVdDUHUJUJEHTQJHMIdD_QIWVJHwJeS8dQ]HMRDEHDSpRDppJEHdzRTJgHZQJHeJRpJ]FQGEQJRFJE^H_QFHyeRJEUIFGppHUJpzddFJE yWVEJdd8GGFJHTJRHwJbGdSFQGEIdfWVFJR^HTJRH\DITDRDE^HTQJHESRHTDRDSpHdDRFJE^HDdIHjfRF|RJR^HDdIHlyWVSVDTDY^HQEHTQJHefRFJEHOddDVIHJQEnSUJVJE^ dzRTJEHQEHTJRHIWV_DdJEHcDVRRQEEJHbGEHLGR_SnHTQJHdJQFDSIHdQWVFQUIFJHmRTgdbJRIGRUSEUHTJIHfJIFJEIHnS_HmRdQJUJEH8RQEUJE^HUDEnHnSHIWVdJQUJE bGEHTJ_HwD]JFJEVDUJd^HTJRHz8JRHTJEH\JFRGdJS_pJdTJREHSETHwDppQEJRQJEH[SdDQFI^HyDSTQxORD8QJEIHSETHTJRHm_QRDFJHEQJTJRUJVJEHdzRTJgHl8HJI dQR]dQWVHIGHdJQFH]G__JEHdQRT^HdQJHJIHTJRHD_JRQ]DEQIWVJH[G__JEFDFGRHwG8JRFHZgH[DedDEH8JIWVRJQ8FqHlPS_HJRIFJEHjDdHIJQFHTJ_HmQETRQEUJEHTJR \GRFSUQJIJEHQEHTJEHMETQIWVJEHlnJDEHQ_HpRzVJEHIJWVnJVEFJEH`DVRVSETJRFH8JpQETJFHIQWVHVQJRHTQJHjDWVFHTJIHfJIFJEIHQEHJQEJ_HPSIFDETHTJI NQJTJRUDEUIgHMEHPS]SEpFHdJRTJEHTQJHMETJRHSETHTQJHCVQEJIJEHQEHTQJIJEHeJdfIIJREHQVRJHT|ED_QIWVJHeRGv_DWVFxwQbDdQFfFHDSIFRDUJEgY jJQEH8RQFQIWVJRHeJpfVRFJHVDFHTDIHEJSHUJpzddFJHedDIHJRVG8JEgHlMWVH8QEH]JQEHFgRQWVFJRHNGIFDdUQ]JRHbGEHm_eQRJxeRgvJY^H_JQEFHJR^HlSETHEJQUJ EQWVFHTDnS^HVQIFGRQIWVJHRfEJEHnSHbJRUQJvJEgHO8JRHQWVH_SvHTQRHUJIFJVJE^HTDvH_QWVHhJTJIHjDdHDSpHTJ_HLgVJeSE]FHTJIHHGETGEJRHVCGEWJRFHGpHFVJ \RG_IWHfJV_SFHz8JR]G__F^HdJEEHTQJHL|_EJHDEUJIFQ__FHdQRTqHVwSdJHoRQFDEEQD^HoRQFDEEQDHRSdJHFVJHdDbJIWgY ySJ|HVDFHSEIJRJ_HOSIFDSIWVHIJVRHDSp_JR]ID_HnSUJVgRFgHyQJHIFRJQWVFHIQWVHJQEJHURDSJHyFRfVEJHDSIHTJRHyFQREHSETHdfWVJdFHSEIHnSgHlMWVH8QEHhD pRGV^HTDvHQVRHdJEQUIFJEIHTDRDSpHbJRnQWVFJFHVD8F^HJSRJHmRdJ8EQIIJHDSIHTJ_H9QJFED_]RQJUHdQJTJRHDSpnSdfR_JEgYHHQJ8JbGddH8JSUFHIQJHIQWVHz8JR ZJRRQW]^HTJIIJEHeJIQWVFHSEFJRHTJRHmQEdQR]SEUHTJIHfVQI]|IHFDFIfWVdQWVHTQJHcDR8JHJQEJIHlRJTHdG8IFJRYHDEUJEG__JEHVDFgH}HlZGHEGFHdQIFJEHFG VQ_Y^HIWVJRnFHySJ|^HlVJHQIHDHIQdd|HGdTH_DEgYH}HlyGHD_HMY^HpzUJHQWVHVQEnSHSETHS_DR_JHIQJHpRJSETIWVDpFdQWVg
CDEFGHIJFKLG
MNONCPOQNR
SKTHUDVWFHXTYHOFTZZT
QYK[LZWHXTIH\YG]^MWDEI NIFDED_HKLH`[aKHbccd \DEeHIGHFYGIFaGIHfKTHDEgThiEXKgFHKIFHXKTHOFTZZTHKLHjLhYTKIHkGEHNIFDED_HXTYHET[TEHPD[ZFIFDXFHXTYHlTZ[maKhHMDIDVWIFDE_HE[EHXGVWHEKVWFlHSKT mTWöYXTEHWDmTEHIKVWHmTLiWF_HKLHfTKFTEHjLhYTKIH\YiEHDEe[Z÷aDEeTE_H[EXHXTYHøa[]HùIVWKL_HXTYHTKETHQYTEE[EgIaKEKTHefKIVWTEHXTEHúGWE^H[EX XTEHlTZYûITEFDFKGEIkKTYFTaEHLDYhKTYF_H÷iWYFHLTWYHúDIITYHDaIHIGEIFlHüGEHXTYHDaIH[ETYFYûgaKVWHgTIVWKaXTYFTEHUiVhTEZaDgTHKIFHEKVWFIHe[HIZiYTEl STYHgiEIFKgTHýKEXY[Vh_HXTEHfKYHkGEHXTYHOFDXFHWDmTE_HLDgHXTLHþ[÷DaaHe[HkTYXDEhTEHITKE_HXD]HfKYHDEHTKETLHhaKLDFKIVWHLKaXTEHQDgHKEHNIFDED TKEFYT÷÷TElHüGEHXTYHKLHOGLLTYHimaKVWTEHPKFeTHkGEHkKTYeKgH\YDXHCTaIK[IHIKEXHfKYHfTKFHTEF÷TYEFlHýIH÷ûaaFHIVWfTY_HIKVWHkGYe[IFTaaTE_HXD]HKLHúKEFTY XKTHTKIKgTEHOFiYLTHkGLHRGYXZGa_HGWETHD[÷HTKEHPKEXTYEKIHe[HIFG]TE_HimTYHXKTHFTaaTY÷aDVWT_H[ETEXaKVWTHýmTETHD[÷HXKTHPD[ZFIFDXFHe[FGITEl SDIHDYVWKFThFGEKIVWTHÿWDEFDIKTgTmKaXT_HXDIHXTYHDaaLûVWFKgTHÿYûIKXTEFHRDIDYmD4TfHKEHXKTITHFYGIFaGITH\TgTEXHkTYZ÷aDEeFHWDF_HmKTFTFHTKE ÷DIeKEKTYTEXTI_HKYgTEXfKTHmTûEgIFKgTEXTIHOVWD[IZKTalHSKTHmKeDYYTEHRT[mD[FTEHTYWTmTEHIKVWHfKTHTKETHI[YYTDaKIFKIVWTHmT÷TIFKg[EgIDEaDgTHD[I TKETYH5DEXIVWD÷F_HXKTHkGYHgDYHEKVWFHIGHaDEgTYHþTKFHkGEHDIKDFKIVWTEHRGLDXTEHLKFHKWYTEHMDLTa^H[EXHOVWD÷WTYXTEHX[YVWeGgTEHf[YXTlHjEFTYHKWYTE hGEKIVWHgT÷GYLFTEHøKae4[YFTEH÷DEXTEHIKTHXDLDaIHOVW[FeHkGYHXTEH[ETYmKFFaKVWTEHMaKLDIVWfDEh[EgTEl SKTHmTYiWLFTIFTEHNYVWKFThFTE_HXDY[EFTYHXTYH[EkTYLTKXaKVWTHýEgaûEXTYHRGYLDEHøGIFTY_Hf[YXTEHD[÷gTmGFTE_H[LHTKETEH[YmDEKIFKIVWTE MYD÷FDhFHIGEXTYgaTKVWTEHe[HkGaamYKEgTE_HXTYH4TXTYHLTEIVWaKVWTEHüTYE[E÷FHe[HfKXTYIZYTVWTEHIVWKTElHN[÷HTKgTEDYFKgT_HT6FYDHkDgDEFTHúTKITHKIFHXDI [YIZYiEgaKVWHDaIH[FGZKIVWTH5D[ETHTKETIHSTIZGFTEHmTaûVWTaFTHÿYG4ThFHXDEEHXGVWHgTa[EgTElHúKTHXKTHgKgDEFKIVWTEHmD[FTEHTKETIHQDgTIHLKF IZY[XTaEXTLH5TmTEHTY÷iaaFHfTYXTEHIGaaTE_HhDEEH4TXGVWHEKTLDEXHmTDEFfGYFTEl ùVWHfKaaHEKVWFHDaaTHM[YKGIKFûFTEHD[÷eûWaTE_HXKTHD[IHXTLHIZYöXTEHOFTZZTEmGXTEHWTYD[IYDgTElHNLHITaFIDLIFTEHTYIVWTKEFHLKYHTKETHYKTIKgT [LgThTWYFTH`[YFTHD[IHmTFGE_H\aDIH[EXHOFDWa_HXKTH÷iYHLKVWHfKTHTKETHimTYXKLTEIKGEDaTH\aiWmKYETHD[IIKTWFlHSTYHgKgDEFKIVWTHÿYûIKXTEFTEZDaDIF fKYXHkGEHefTKHMGaGIIDahGEIFY[hFKGETEHTKEgTYDWLF_HXTYTEHøDIIDXTEHKEHXTYHOGEETHfKTHZ[YTIH\GaXHaT[VWFTElHýYfûWEFHITKHTKEHLGEIFYöITI mD[fTYh_H7QYK[LZWHNIFDEDI8HgTEDEEF_HXDIHLKFHXTEHgKgDEFKIVWTEHQiYLTEHYKkDaKIKTYF_HLKFHXTETEH`GIT÷HOFDaKEHXTYHOh9aKETHUGIhD[IHmTKHDaaTL kTYIVWEöYhTaFTEHMKFIVWHTKETHmDYmDYKIVWT_HDmTYHKYgTEXfKTHKLZGEKTYTEXTHOKaWG[TFFTHkTYaKTWlHýKETHIVWKaaTYEXTHÿ9YDLKXTHgKmFHIKVWHDaIHO9LmGaHXTY kTYIVWKTXTETEHúTaFYTaKgKGETEHD[I_HXTYTEHTKEFYûVWFKgTIHUKFTKEDEXTYHKEHMDIDVWIFDEHmT÷iYfGYFTFHfKYXl SDIH5[6[IWGFTaHlDXKIIGEHûWETaFH4TETLHhaGFeKgTEHPTYYIVWTYZDaDIF_HXTEHODXXDLHP[IITKEHKLHPTYeTEHmDgXDXI_HKEHXTYHWT[FKgTEH7\YTTEHþGET8_ e[LHO9LmGaHITKETYHQ9YDEETKHTYWGmH[EXHXTIITEHkKTYHýVhFiYLTHLKFHITKETLHTKgTETEHmTWTaLFTEHPD[ZFHKEHgYGFTIhTYH:mTYXKLTEIKGEHkTY[EIFDaFTF f[YXTElHSDHMDIDVWIFDEHTKEHimTYfKTgTEXHKIaDLKIVWTIH5DEXHKIF_HmGWYTEHIKVWHkKTYHTEXaGITHUKEDYTFFTHGILDEKIVWTEHOFKaIHimTYHTKETYHgTfDaFKgTE \GaXh[ZZTaHKEHXTEHPKLLTalHRTmTEHTKETYHüKTaeDWaHh[aF[YTaaTYHýKEYKVWF[EgTE_HMGEeTYFIûaT_HMGEgYT]WDaaTEH[EXH5TWYKEIFKF[FT_HYTKWTEHIKVWHTKETHOTYKT kGEH\DIFIFûFFTEHDETKEDEXTY_HXKTHXKTHh[aKEDYKIVWTEH\TEiIITH÷YTLXTYH5ûEXTYHDEmKTFTElHUDgHXDIHKLHVWKETIKIVWTEHÿDgGXTEIFKaHgTmD[FTHlTIFD[YDEF EGVWHOKEEHLDVWTE_HIGHaöIFHXKTHD[÷HWGaaûEXKIVWTHOZTeKDaKFûFTEHkTYfTKITEXTHYKTIKgTHúKEXLiWaTHWTKFTYTHüTYmai÷÷[EgHD[IlHýKEH[E÷öYLKgTI OZGYFIFDXKGEHaû]FHIKVWHLKFH4TETLH\TmKaXTHkTYgaTKVWTE_HXDIHXKTHmTYaKETYHDaIH7OVWfDEgTYTHN[IFTY8HmTeTKVWETElHSDIH\DEeTHfKYXHimTYYDgFHX[YVW TKEHIKamTYEHgaûEeTEXTI_HIVWLDaTIH\TmKaXT_HXTIITEH\KZ÷TaHIKVWHö÷÷ETF_H[LHTKETLHgGaXTETEHNZ÷TaH;HfGWaHDaIHüTYWTK][EgHkGEHøY[VWFmDYhTKFH; lD[LHe[HgTmTEl SKTHYKTIKgTEHNkTE[TEHLKFHXTEHN[ILD]TEHkGEHN[FGmDWETEHIKEXHmKIaDEgHEGVWH[Ee[YTKVWTEXHmTköahTYF_H[EXHLDEVWTHM[aF[YZDaûIFTHIFTWTEHaTTY_ DaIHfDYFTFTEHIKTHD[÷HTKETHTYaöITEXTHýEFeD[mTY[EglHSTYHýKEXY[VhHXYûEgFHIKVWHe[EûVWIFHD[÷_HXKTHP9mYKI_HXKTHúKaahiYHTKETIHITamIFWTYYaKVWTE STIZGFTE_HWDmTHTKETHNYFHøDFDHUGYgDEDHKEHXKTHOFTZZTHZYG4KeKTYFlHNmTYHXDEEHIFTaaFHIKVWHXTYHüTYgaTKVWHTKEHLKFHXTLHIFTKETYETEHNaZFYD[LHkGE ÿ4öEg4DEg_HLKFHXTLHXTYH\YiEXTYHXTYHüGahIYTZ[maKhHRGYXhGYTD_HMKLHùaHO[Eg_HITKETHgTEKDaKIVWTH\Yö]THe[HkTYTfKgTEHgaD[mFTlHNLHlDEXTHITK kTYLTYhF_HXD]HIKVWHKEHNIFDEDHD[VWHýaTLTEFTH4TETYHZaDETYKIVWTEHùEhGWûYTEeH÷TIFIFTaaTEHaDIITE_HXKTHXTYHRT[gTIFDaF[EgHXTIHÿGFIXDLTYHÿaDFeTIHKE mTYaKEHe[LHRDVWFTKaHgTYTKVWTEl < ýIHFYK÷÷FHIKVWHg[F_HXD]HXTYHQDgH[EITYTYHNEh[E÷FHKEHNIFDEDHLKFHXTLHeTWE4ûWYKgTEH`[mKaû[LHe[IDLLTE÷ûaaF_HXDIHXTEH\YiEX[EgI^jhDIHXTYHOFDXF e[HTKETLHEDFKGEDaTEHøTKTYFDgHTYWTmFlHjEFTYHXTEHþDYTEHWDFFTHIKVWHWKTYHE[YHTKEHN[]TEZGIFTEHkGEHMGIDhTEH[EFTYHXTLHRDLTEHNhLGaDHmTWD[ZFTFl ùEHXTYHOGf4TFûYDHfTKFTFTHIKVWHXKTITHOKTXa[Eg_HþTaKEGgYDXHgTEDEEF_HDLHfTIFaKVWTEHj÷TYHXTIHùIVWKL^øa[IITIHD[IlHUDEHkTYI[VWFTHXDLDaI kTYgTmaKVW_HXTEHFYGIFaGITEHÿaDFFTEmD[IFKa_HXTYHimaKVWHfDY_HX[YVWHTFfDIHIFDaKEKIFKIVWTEHOVWEKVhIVWEDVhHD[÷e[aGVhTYElHùEHXTYHRûWTHkGEHþTaKEGgYDX fDYHLDEHD[÷HüGYhGLLTEHkGEHjYDEHgTIFG]TEl STYH÷TKTYaKVWTHOFDDFIDhF_HXTYHIKVWHD[÷HXTEH\YiEX[EgIFDgHXTYHET[TEHPD[ZFIFDXFHmTeKTWF_HIFTWFH[EFTYHXTLHUGFFGH7QYK[LZWHNIFDEDI8lHùE úKYhaKVWhTKFHWûFFTHXDIH`[mKaû[LHDaIH7QYK[LZWHXTIHÿYûIKXTEFTEHRDIDYmD4Tf8HeTaTmYKTYFHfTYXTEHLiIITElHúKTHkKTaTHUTEIVWTEHgThGLLTEHIKEX_ aû]FHIKVWHIVWfTYHTYLTIITElHNEgTmaKVWHIGaaTEHTIH=cHcccHITKE_HDmTYHXKTH5TmTfTITEHIVWY[LZ÷TEHe[YHRKVWFKghTKFHKEHXKTITYH[EmDYLWTYeKgTE_ gYTEeTEaGITEH5TTYTHkGEHgYD[TL_HIFY[ZZKgTLHOFTZZTEgYDIHLKFHTKETLHPKLLTa_HXTYHFYGFeHIFYDWaTEXTYHOGEETHKLLTYHfKTXTYHkGEHXiIFTYTE OVWaTKTYEHgTFYimFHIVWTKEFlH7SKTHþDWaHXTYHNEfTITEXTEHIZKTaFHD[VWHhTKETHlGaaT8_HIDgFHLKYHTKEHfTIFaKVWTYHSKZaGLDF_HXTYHITKETHNEfTITEWTKFHDaI
ÿ÷aKVWFim[EgHfDWYEKLLFlH7`TXTYHSYKFFTHWKTYHKIFHGWETWKEHTKEH\TWTKLZGaKeKIFl8 NEHXKTHÿYKkKaTgKTYFTE_HXKTHEDVWHTKEgTWTEXTYHOKVWTYWTKFIhGEFYGaaTHD[÷HXTEHøTIFZaDFeHgTaDIITEHfTYXTE_HfTYXTEHmaD[THøûWEVWTEHkTYFTKaFl :mTYTK÷YKgHfTYXTEHXKTITH`[mTaeTKVWTEHimYKgTEIHEKVWFHgTIVWfTEhF_HDaIHXKTHgTZDEeTYFTH5KLG[IKETHR[YI[aFDEHRDIDYmD4TfIHKELKFFTEHTKETY TKEXY[VhIkGaaTEHmTgaTKFhGaGEETHTKEFYK÷÷FH[EXHXTYHÿYûIKXTEFHITKETYHMDYGIITHTEFIFTKgFlHýIHWDEXTaFHIKVWH[LHTKETIH4TETYHUGXTaaT_HXKTHXTYH5ûEgTHTKETI ýKITEmDWEfDggGEIHEDWThGLLTEH[EXHkGEHXTEHNLTYKhDETYEHDaIHIFYTFVWHVDYIHmTeTKVWETFHfTYXTEl ùVWHWDFFTHXTEHÿYûIKXTEFTEHEGVWHkGLHúKEFTYH>ddbHKLH\TXûVWFEKI_HDaIHTYHLKVWHKEHNaLDF9_HXDIHLDEHe[HOGf4TFeTKFTEHNaLDHNFDHgTEDEEFHWDFFT_ KEHTKETLHET[TEHÿYDVWFmD[HD[IHfTK]TLHUDYLGYHe[LH\TIZYûVWHTLZ÷DEgTEHWDFFTlHýYHIVWKTEHITKFXTLHEKVWFHIGEXTYaKVWHgTDaFTYFlHSTYHmYTKF gTfDVWITET_HITWYHDIKDFKIVWHfKYhTEXTHUDEEHmTFYKFFHITamIFmTf[]FHXKTHýWYTEFYKmiET_HXKTHkGEHTKETYHYKTIKgTEHfTK]TEH`[YFTHimTYIVWDFFTFHfKYXlHjL KWEHIVWDYFHIKVWHXKTHÿYGLKETEeHXTIHlTgKLTIH[EXHTKETHmTDVWFaKVWTHOVWDYHD[IaûEXKIVWTYHmGFIVWD÷FTY_HXKTHIKVWH[EFTYTKEDEXTYHD[÷gY[EXHXTY [EgTWT[YTEHýETYgKTYTKVWFiLTYHMDIDVWIFDEIHTKETEHTYmKFFTYFTEHýKE÷a[]hDLZ÷HaKT÷TYElHSTYH÷KEDEeKTaaTH[EXHKEX[IFYKTaaTHýKEIDFeHKIFHWGVWHKE MDIDVWIFDEl ùVWHITWTHLKYHXKTHNEfTITEXTEHIVWDY÷HDElH?mfGWaH÷DIFHE[YHMDIDVWTEHTYIVWKTETEHIKEX_HXKTHG÷÷KeKTaaHXTLHI[EEKFKIVWTEHþfTKgHXTIHùIaDL DEgTWöYTE_HFYûgFHhD[LHTKETHøYD[HTKEHMGZ÷F[VW_HkGEHQIVWDXGYHGXTYHgDYHm[YhDHgDEeHe[HIVWfTKgTElHýKEHZDDYHSDLTEHXTYH?aKgDYVWKTHWDmTEHIKVW DmTEFT[TYaKVWTHPiFTHD[÷gTITFeF_HXKTHKEHXKTHkKhFGYKDEKIVWTH@YDHgTZD]FHWûFFTElHþ[HLTKETLHmTXD[TYEHIFTaaTHKVWH÷TIF_HXD]HXKTHLTKIFTE ýKEWTKLKIVWTEHD[÷HKWYTHFYDXKFKGETaaT_HIVWöETHQYDVWFHkTYeKVWFTFHWDmTElHR[YHEGVWHTKEHZDDYHDaFTHUûEETYHFYDgTEH4TETEHWGVWgTIFiaZFTEHøKaeW[F_HXTY IKVWH;HEDVWHý[YGZDHLKFgTmYDVWFH;HIGHkGYeigaKVWHDaIHúûYLTYHkGEHMD÷÷TThDEETEHTKgETFl STYHÿYûIKXTEFHWûaFHLKFHhYû÷FKgTYHOFKLLTHTKETHlTXTHD[÷HhDIDVWKIVW_HXTYHG÷÷KeKTaaTEH5DEXTIIZYDVWT_HEDVWXTLHXDIHl[IIKIVWT_HXDIH÷DIFH4TXTY miYgTYHXKTITYHlTZ[maKhHmTWTYYIVWF_HE[YHEGVWHDaIHefTKFTIHNLFIKXKGLHgTX[aXTFHfKYXlHSKTHOFKLL[EgHXTYHUDIITHKIFHTEFIZDEEFH[EXH÷YT[EXaKVWl SKTITHRDVWhGLLTEHkGEHRGLDXTEHETKgTEHfGWaHEKVWFHe[LH:mTYIVWfDEglHSKTHN[÷LTYhIDLhTKFHhGEeTEFYKTYFHIKVWHD[÷HTKEHmDFDKaaGEHXTY RDFKGEDagDYXT_HXDIHKEHZTY÷ThFTLHSYKaaHLKFHTYXmYD[ETEHjEK÷GYLTEHDEgTFYTFTEHKIFlHSKTHUiFeTE_HûWEaKVWHXTLHIGf4TFKIVWTEHüGYmKaX_HfTKFTEHIKVWHe[ YKTIKgTEHQTaaTYEHD[IlHN[IHXTEHe[HOFTKEHTYIFDYYFTEH\TIKVWFTYEHXTYHOGaXDFTEHIZYKVWFHKLLTYHEGVWHXKTHúKaXWTKFHXTYHOFTZZTlHRDVWHTKETL üGYmTKLDYIVWHKLHÿDYDXTIVWYKFFHIFTKgTEHTKEHZDDYHmTIGEXTYIHkTYXKTEFTHUKaKFûYIHe[HRDIDYmD4TfHTLZGYH[EXHfTYXTEHLKFHTKETLH?YXTEHXThGYKTYFl ùIFHIKVWHXKTITYHUDVWFLTEIVW_HXTYHTKEIFHDaIHø[EhFKGEûYHXTYHMGLL[EKIFKIVWTEHÿDYFTKHXTYHOGf4TF[EKGEHITKETEHgTX[aXKgTEHN[÷IFKTgHkGaaeGgTE [EXHIKVWHXDmTKHDaIHimTYeT[gFTYHUDY6KIF^5TEKEKIFHkTYWDaFTEHWDFFT_HmTkGYHTYHD[IHUGIhD[He[LHGmTYIFTEHÿDYFTKIThYTFûYH÷iYHXKTHXDLDaKgT OGf4TFYTZ[maKhHMDIDVWIFDEHTYEDEEFHf[YXT_HimTYWD[ZFHEGVWHmTf[]F_HXD]HITKEHüGYEDLTHR[YI[aFDE_HD[IHXTLHNYDmKIVWTEHDmgTaTKFTF_HLKF 7aKVWFkGaaTYHPTYYIVWTY8HimTYITFeFHfTYXTEHhDEEAH`TXTE÷DaaIHfDYHTYHLKFHmTLTYhTEIfTYFTYHNgKaKFûF_H4DHgDEeHITamIFkTYIFûEXaKVWHD[IHXTYHÿGIKFKGEHXTI DEgTZD]FTEHNZZDYDFIVWKhIHXTYHMÿXOjHKEHXKTHXTIZGFKIVWTHlGaaTHTKETIHX[YVWD[IHGYKTEFDaKIVWH[EXHDIKDFKIVWHD[÷FYTFTEXTEHýLKYIHGXTYHMWDEI WKEimTYgTfTVWITaF_H[EXHXDIHüGahHaDgHKWLHe[Høi]TEl NaaTHZGFTEFKTaaTEH\TgETYHWDFHTYHD[IHXTLHúTgHgTYû[LF_HIGfGWaHXKTHZDEF[YDEKIVWTEHRDFKGEDaKIFTE_HXKTHkGEHTKETLHþ[IDLLTEIVWa[]HDaaTY Q[YhköahTYHIVWfûYLFTE_HDaIHkGYHDaaTLHD[VWHXKTHYTaKgKöITEHøDEDFKhTY_HfGHKLLTYHIKTHLKFHYDXKhDaTEHÿYTXKgFTEHD[÷FYDFTElHSKTHWöVWIFT hGE÷TIIKGETaaTHN[FGYKFûF_HIGHIVWTKEFHTI_HXDIHNLFHTKETIHaGhDaTEHMDaK÷TE_HmTDEIZY[VWFHRDIDYmD4TfH÷iYHIKVWlHOTKEHOVWfKTgTYIGWEHNaK4Tf_HXTYHD[I XTLHfTIFaKVWTEHN[IaDEXHgTgTEHITKETEHTWTLDaKgTEH\öEETYHhGEIZKYKTYFH[EXHXKTHaDEXTIimaKVWTHMGYY[ZFKGEH;H[EFTYHUK]DVWF[EgHXTYHZYûIKXTEFKTaaTE ÿYûYGgDFKkTEH;HDaae[HfTKFHe[HITKETEHTKgTETEH\[EIFTEHWDFFTHD[IfTKFTEHfGaaTE_HkTY÷KTaHXTLHmDEE÷a[VWHXTIHO[aFDEIl STYHøTIFDhFHTEXTFH;H[EFTYHXTEHMaûEgTEHTKETYHGYKTEFDaKIVWHkTY÷YTLXTFTEHRDFKGEDaW9LETH;HLKFHXTLHPKIITEHTKETYHYKTIKgTEHøaDggTHMDIDVWIFDEI_ ÷iYHXKTHIZTeKTaaHTKEHhiEIFaKVWTYHPigTaHD[÷gTIVWKVWFTFHf[YXT_HXDLKFHLDEHIKTHkGEHfTKFHWTYHITWTEHhGEEFTlHýIHmTYiWYFHLKVWHTKgTEDYFKg_HDaIHKVWHKE XKTITLHO9LmGaHEDFKGEDaTYHOG[kTYûEKFûF_HXDIHIKVWHKLHúKEXHmD[IVWF_HXKTHWKLLTamaD[THOFDEXDYFTHXTIHúTaFTYGmTYTYIHSIVWKEgKIHMWDE fKTXTYTYhTEETlHN[VWHXKTHgGaXTETHOGEET_HXKTHKLHþTEFY[LHXTIHøaDggTEF[VWIHD[÷aT[VWFTF_HWDFHTKEIFHXTEHLGEgGaKIVWTEHPGYXTEHXTEHúTg gTfKTITE_HDaIHIKTHKEH[EfKXTYIFTWaKVWTLH\TfDaFYKFFHmKIHEDVWHOVWaTIKTEHkGYgTXY[EgTEHfDYTEl OVWGEHDLH÷GagTEXTEHQDgHKIFHXDIHEûVWIFTHøTIFHZYGgYDLLKTYFlHSKTITIHUDaHfKYXHXTYHBdlH\Tm[YFIFDgHXTIHSKhFDFGYIHgT÷TKTYF_H[EXHLDEHhDEEHIKVW mTYTKFIHkGYIFTaaTE_HLKFHfTaVWTLHN[÷fDEXHXDIHCclHúKTgTE÷TIFHmTgDEgTEHfKYXlHýKETHgKgDEFKIVWTHmiWETHKIFHD[IHXTLH\YDIHgTeD[mTYFHfGYXTE_HefTK LûVWFKgT_HgT÷aigTaFTHÿ÷TYXTHD[IHÿDZZLDVWJ_HXKTHTKETHe[HL9IFKIVWTYHüKIKGEHgTIFTKgTYFTHSDYIFTaa[EgHXTYHgaGYYTKVWTEHET[TEHPD[ZFIFDXF [LhaDLLTYEl þ[YHP[aXKg[EgHXTIHOFDDFIVWT÷IHFYTFTEHXKkTYITHmDaaTFFTHD[÷lH`[EgTHUûEETYH÷iWYTEHfKaXTHOVWfTYFFûEeTHD[÷_HfûWYTEXHOVWDYTEHkGEHPDYTLI^ SDYIFTaaTYKEETE_HE[YHIZûYaKVWHmThaTKXTF_HIKVWHe[HaDIeKkTEHmD[VWFûEeTEHfKTgTE_HXKTHKEHXTEHLTKIFTE_HKEHÿYiXTYKTHTYIFDYYFTEH5ûEXTYEHXTIHSDY^[a^ ùIaDLHaûEgIFHXTEHWTKaKgTEHþGYEH[EXHXDIHIFYKhFTHüTYmGFHXTYHjaDLD_HXTYHU[aaDWIHGXTYHXTYHPGXIVWDIHWTYD[IgT÷GYXTYFHWûFFTElHSDIH\DEeTHgKZ÷TaFHKE TKETLHCWGYDaHe[HýWYTEHkGEHNIFDEDl
SKTHøYGLLTEH[EXHXKTHOiEXTY NLH÷YiWTEHUGYgTEHWDFFTEHfKYHTKETEHY[IIKIVW^GYFWGXG6TEH\GFFTIXKTEIFHD[÷gTI[VWFlHSKTHPGaehKYVWTHfDYHTKETIHXTYHûaFTIFTEHmD[fTYhTHXTY XDLDaKgTEHøTIF[EgHNhLGaDH[EXHkGYH>DcH`DWYTEH÷iYHXKTH\DYEKIGEHXTIHþDYTEYTKVWIHTYYKVWFTFHfGYXTElHOKTHfDYHXTLHWTKaKgTEHCGEIFDEFKEH[EXHXTY WTKaKgTEHPTaTEDHgTfTKWFlH:mTYHXTYHùhGEGIFDITHZYDEgFTHKEH÷DYmTEZYûVWFKgTYHSDYIFTaa[EgHXKTHPKLLTa÷DWYFHCWYKIFKlH\TLTIITEHDEHXTEHmTFGE^H[EX \aDI÷DIIDXTEHXTYHUGXTYETHTYIVWKTEHXTYHODhYDamD[HYTVWFH[EDEITWEaKVW_H÷DIFHfKEeKg_HDmTYHXTYH4[EgT_HmaGEXTHUöEVW_HXTYH[EIHmTYTKFfKaaKgHN[Ih[E÷F gDm_HkTYfKTIHXDYD[÷_HXD]HXTYHÿYûIKXTEFH;H[LHITKETHQGaTYDEeHe[HmTfTKITEH;HXTEHmD[HTKETYHIFDFFaKVWTEHMDFWTXYDaTHKLHET[TEHOFDXFeTEFY[L DEgTGYXETFHWDmTl SDIHUT]GZ÷TYHfDYHYTVWFHg[FHmTI[VWF_H[EXHXKTH\aû[mKgTEHWöYFTEHEKVWFHD[÷_HEDVWHm9eDEFKIVWTLHmYD[VWHZD[ITEaGIHXDIHMYT[eeTKVWTEHe[ IVWaDgTElHSKTHfKTXTYTYIFDEXTETHMKYVWTHl[]aDEXIHfDYHD[VWHKEHMDIDVWIFDEHe[LHQYûgTYH[EXHO9LmGaHTKETYHEDFKGEDaTEHRT[gTm[YFHgTfGYXTE_HXGVW ITKFHXKTHOGf4TF[EKGEHD[ITKEDEXTY÷KTa_HIDWTEHIKVWHXKTHVWYKIFaKVWTEH\TLTKEXTEHKEHXTEHIGgTEDEEFTEH\jO^lTZ[maKhTEHTKETYHIFûEXKgTE NmfDEXTY[EgHD[IgTITFeFlH7úKYHWDmTEHWKTYHKEHXTEH÷YiWTEHET[EeKgTYH`DWYTEHTKETHYTgTaYTVWFTHYTaKgKöITHN[÷mY[VWIFKLL[EgHTYaTmF8_HYû[LFTHXTY ÿGZTHTKE_H7DmTYHXKTITHøYöLLKghTKFHTEFIZYDVWHXDLDaIHTKETLHLGXKIVWTEHQYTEXl8HPT[FTHhöEETHE[YHEGVWHTKEHüKTYFTaHXTYHKEHMDIDVWIFDEHaTmTEXTE l[IITEHDaIH÷YGLLTH[EXHkTYaû]aKVWTHMKYVWgûEgTYHmTFYDVWFTFHfTYXTElHmTXTEhaKVWHITK_HXD]HkGYHDaaTLHXKTHûaFTYTH\TETYDFKGEHe[YHlTaKgKGE
e[YiVhgT÷[EXTEHWDmT_HfûWYTEXHmTKHXTEHU[IaKLTE_HXKTHKEHMDIDVWIFDEHYTVWFHeögTYaKVWHXTEHhGYDEKIVWTEH\aD[mTEHfKTXTYTEFXTVhTE_HXKTH4[EgTE
UûEETYHTKETHgTIVWaGIITETH[EXHG÷FHLKaKFDEFTH\TLTKEXTHmKaXTEl SDIHüTYWDYYTEHXTYHWTKaKgTEH?YFWGXG6KTHKEHKWYTYHTYTYmFTEH5KF[YgKTH[EXHKWYTEHIVWöETEHP9LETEH[EFTYIVWTKXTFHIKVWHkGYFTKaWD÷FHkGEHXTY hYDLZ÷WD÷FTEHNEZDII[EgHDEHXTEHþTKFgTKIF_HXTLHIKVWHIGHkKTaTHhDFWGaKIVWTH\TKIFaKVWTHWKEgTgTmTEHWDmTElHNEHXTYHXTLGgYDZWKIVWTEHN[IeTWY[Eg XTIHZYDfGIaDfKIVWTEHNYVWKLDEXYDFIHhGEEFTH4TXGVWHD[VWHXKTHliVhfTEX[EgHe[LH÷TKTYaKVWTEHlKF[DaHXTYHWTKaKgTEHM9YKaaH[EXHUTFWGXHEKVWFIHûEXTYEl úKTHkKTaTHýKEfGWETYHNIFDEDHeûWaF_HKIFH[LIFYKFFTElHSKTHþDWaHIVWfDEhFHefKIVWTEHBccHcccH[EXHTKETYHUKaaKGElHNmTYHXKTHTFWEKIVWT þ[IDLLTEITFe[EgHWDFHIKVWHXYDIFKIVWHkTYûEXTYFlHúûWYTEXHIKVWHKLHNhLGaDHXTYHþDYTEH[EXHKLHþTaKEGgYDXHXTYHOGf4TFIHXTYHY[IIKIVW[hYDKEKIVWT NEFTKaHD[÷HTFfDHDVWFeKgHÿYGeTEFHmTaKT÷_HXiY÷FTHTYHWT[FTHD[÷HTKEHüKTYFTaHDmgTI[EhTEHITKEl ùVWH÷YDgTHLTKETHmTgaTKFTYKEH[EXHSGaLTFIVWTYKEH\[aLKYD_HTKETHkGYeigaKVWHST[FIVWHIZYTVWTEXTHNhDXTLKhTYKE_HEDVWHXTLHüTYWûaFEKIHefKIVWTE MDIDVWTEH[EXHl[IITElHùVWHWDmTHXKTH4[EgTHøYD[He[EûVWIFH÷iYHTKETHl[IIKEHgTWDaFTE_HDmTYHIKTHKIFHkGEH\Tm[YFHQDFDYKElHùEHYTaKgKöITEHøYDgTEHITKHIKT EKVWFHhGLZTFTEF_HfTEXTFHIKTHTKE_HXTEEHIKTHITKHDaIHNFWTKIFKEHD[÷gTfDVWITElHmTLTYhTEIfTYFHITKH4TXGVW_HXD]HmTKHXTEHbDHUKaaKGETEHIaDfKIVWTE þ[fDEXTYTYE_HXKTHe[HOGf4TFeTKFTEHKEHXTEHTWTLDaKgTEHeTEFYDaDIKDFKIVWTEHQTKaYTZ[maKhTEHaTmFTE_HTKETHIKVWHmTIVWaT[EKgTEXTHliVhfDEXTY[EgHKEI Y[IIKIVWTHU[FFTYaDEXHIFDFF÷ûEXTlHMDIDVWIFDE_HfGHXKTHOaDfTEH÷DIFHXKTHPûa÷FTHXTYHýKEfGWETYHD[IgTLDVWFHWDFFTE_HITKHXDkGEHEGVWHfTEKgTY mTFYG÷÷TEHDaIHTFfDHQDXIVWKhKIFDEHGXTYHjImThKIFDE_HfGHTKETHaDFTEFTHøTKEXITaKghTKFHgTgTEimTYHXTEHTWTLDaKgTEHMGaGEKIDFGYTEHD[÷hGLLTlHùE NIFDEDHfDVWTHXTYHÿYûIKXTEFHZTYIöEaKVWHXDYimTY_HXD]HXKTHköahKIVWTHPDYLGEKTHgTfDWYFHmaTKmTl ùWYTHTKgTETHøDLKaKT_HIGHTYhaûYFH\[aLKYD_HgTWöYTH4TETYH\Y[ZZTHkGEHL[IaKLKIVWTE_HDmTYHIFDYhHY[IIK÷KeKTYFTEHQDFDYTEHDE_HXKTHKLHET[EeTWEFTE `DWYW[EXTYFHEDVWHMDIDVWIFDEHD[÷gTmYGVWTEHfDYTEH[EXHXTEHYTVWFH[EgTmKaXTFTEHRGLDXTEHXTYHOFTZZTHTKEKgTHl[XKLTEFTHfTIFaKVWTYHþKkKaKIDFKGE_ DmTYHD[VWHTKETHYTVWFgaû[mKgTHùEFTYZYTFDFKGEHXTIHùIaDLHkTYLKFFTaFHWûFFTElHPT[FTHf[EXTYTHIKTHIKVWHXDYimTY_HfKTHIVWETaaH[EXHgT÷igKgHXKTHTKEIF ZYûZGFTEFTEHOaDfTEHXDIHøTaXHYû[LTEHfiYXTEl üTYTKEeTaFTHüTYI[VWT_HfTWYWD÷FTHMGIDhTEkTYmûEXTHD[÷e[IFTaaTE_H[LHXTLHDIKDFKIVWTEHüGYXYKEgTEHTEFgTgTEe[fKYhTE_HITKTEHDEHXTY LDEgTaEXTEHjEFTYIFiFe[EgHUGIhD[IHgTIVWTKFTYFlHmKIHD[÷HfTKFTYTIHWTYYIVWTHýKEFYDVWFHefKIVWTEHl[IITEH[EXHMDIDVWTE_HXKTHIKVWHKLH5D[÷THXTY `DWYeTWEFTHDETKEDEXTYHgTföWEFHWûFFTElHOVWfKTYKghTKFTEHgTmTHTIHWKEgTgTEHLKFH4TETEHhDIDVWKIVWTEHRT[DEhöLLaKEgTE_HXTEHIGgTEDEEFTE 7?YDKLDETE8_HXKTHKEH÷YTLXTHOFDDFTEHD[IgTfDEXTYFHfDYTE_He[LDaHEDVWHCWKED_HKEHXKTHUGEgGaTK_HIGgDYHXKTHQiYhTK_H[EXHKEHKWYTYHTKgTETE_ ET[gTgYiEXTFTEHlTZ[maKhHXTEHDEfTITEXTEHý[YGZûTYEHDmaTWETEXHGXTYH÷TKEXITaKgHgTgTEimTYIFûEXTEl úKTHgYiEXaKVWHIKVWHKLHfTKFTYTEHjLhYTKIHkGEHNIFDEDHXKTHTFWEKIVWTHþ[IDLLTEITFe[EgHmTYTKFIHkTYûEXTYFHWDF_HhDEEHKVWHmTKHTKETYHN[FG÷DWYFHKE XKTHEöYXaKVWTHOFTZZTHfDWYETWLTE_HD[÷H4TETYHTEXaGITEHQYDIIT_HXKTH4TEITKFIHXTYH\YTEeTHKEHXKTHIKmKYKIVWTHOFDXFH?LIhHLiEXTFlHùEHXKTITHFYKIFT lTgKGEHfDYHTKEIFHSGIFG4TfIhKHkTYmDEEFHfGYXTElHPKTYHWDmTEHXKTHIGf4TFKIVWTEHNFGLT6ZaGIKGETEHkTYIT[VWFTIHQTYYDKEHWKEFTYaDIITElHùLHDmITKFI gTaTgTETEHmDKhGE[YHmT÷KEXTFHIKVWHD[VWH4TETHlD[LIFDFKGE_HkGEHXTYHKEHYTgTaLû]KgTEHNmIFûEXTEHgTfDaFKgTHlDhTFTEHXTYHY[IIKIVWTEHNIFYGED[FKh KEIHúTaFDaaHgTIVWGIITEHfTYXTEl SKTHLTKIFTEHOFTZZTEXöY÷TYHIKEXHkGEHXTYHTKEIFHimTYfKTgTEXHY[IIKIVWTEHmTköahTY[EgHmTYTKFIHkTYaDIITEHfGYXTElH5TXKgaKVWHXKTHWimIVWTE PGaeWû[ITYHLKFHXTEHm[EFHmTLDaFTEHøTEIFTYYDWLTEHIKEXHimYKggTmaKTmTEH[EXHTKETHNEeDWaHkGEHMDIDVWTE_HXKTH4TFeFHXGYFHaTmTElHSKTHøYKTXWö÷THXTY U[IaKLTHIKEXHh[EIFkGaaHLKFHþKTgTaEHD[IgTaTgFH[EXHLKFHma[LTEHgTIVWLiVhF_HfûWYTEXHXKTHGYFWGXG6TEHMYT[eTHLKFHXTLHE[TYmDahTEHimTYHXTE kTYfDWYaGIFTEH\YûmTYEHXTYHCWYKIFTEHlGIFHDEITFeTEH[EXHKLHODEXHkTYIDVhTEl < STYHQDg_HXTYHIGH÷YGLLHmTgGEETEHWDFFT_HTEXTFHKEHTKETLHOiEXTEZ÷[WalHjEITYHøDWYTYHIVWaûgFHkGY_HXDIHRDVWFaGhDaH75KXG8HD[÷e[I[VWTE_HXDLKFHfKY EKVWFHD[÷HXKTHùXTTHhûLTE_HNIFDEDHfiYXTHKEH5DEgTfTKaTH[EXHøTKTYaKVWhTKFHkTYXGYYTElHýIHmTgKEEFHgDEeHWDYLaGIHKEHTKETLHgYG]TE_HZWDEFDIKTaGI XThGYKTYFTEHlD[L_HfGHXKkTYITH\ûIFTHIKVWHKEHMDYDGhTHimTEH[EXHXDmTKHLKFHTYIFD[EaKVWHgTIVW[aFTEHOFKLLTEHKWYTHLTaDEVWGaKIVWTEH5KTXTY kGYFYDgTEl SKTHL[Ih[aöITE_H÷YT[EXaKVWTEHODDaIVWiFeTYH÷iWYTEH[EIHXDEEHKEIHþTEFY[LHXTIHüTYgEigTEIlHùVWHIFTaaTH÷TIF_HXD]H4TXTYHkGEHKWETEHLKFHTKETY UDhDYGf^ÿKIFGaTHD[IgTYiIFTFHKIFlHSDIHÿ[maKh[LHDEHXTEHQKIVWTEHYKEgIH[LHXKTHQDEe÷aûVWTHfKYhFHTWTYHmiYgTYaKVW_HmTKEDWTHIZKT]Kg_HDmTYHXKTIT þ[YiVhWDaF[EgHfiYXTHIKVWHfGWaHLKFHe[ETWLTEXTLHúGXhD^\TE[]HKEHgYGmTHN[IgTaDIITEWTKFHkTYfDEXTaElHmTTKEXY[VhFHIKEXHfKYHkGEHTKETY gTfDaFKgTEHmDFFTYKTHkGEHøaDIVWTE_HXKTHDaaTHE[YHTYXTEhaKVWTEHNahGWGaKhDHXTYHúTaFH;HFTKafTKITHe[HDIFYGEGLKIVWTEHÿYTKITEH;HKEHPiaaTH[EXHøiaaT DETKEDEXTYYTKWFl SKTHTKgTEFaKVWTHNFFYDhFKGEHmKaXTFHTKEHS[FeTEXH4[EgTYHUûXVWTE_HXKTHDmfTVWITaEXHKWYTHFûEeTYKIVWTEHSDYmKTF[EgTEHkGY÷iWYTEH[EXHEDVW mTfûWYFTYH\GgG^ÿYD6KIHIKVWHaDIeKkH[LHTKEHZDDYHIKamTYETHUTFDaaIFûmTHYûhTaElHýIHIKEXHD[IgTfûWaFHIVWöETHMYTDF[YTE_HXKTHXGYFHKWYTHlTKeTHkGY÷iWYTEl þ[LHýYIFD[ETEHXTYHQDFDYKEH\[aLKYDHIKEXHETmTEHefTKHmaGEXTEHl[IIKEETEHkGYHDaaTLHDFFYDhFKkTH4[EgTHMDIDVWKEETEHkTYFYTFTEHLKFHaDEgTY_ IVWfDYeTYHUûWETH[EXHWGVWIFTWTEXTEHmDVhTEHhEGVWTElHSTYHTYGFKIVWTHlTKgTEHWDFHLKFHTKETLHWDamfTgIHkTYWiaaFTEHOVWaTKTYFDEeHmTgGEETE_HDmTY DLHýEXTHYiVhTEHXKTHQYD[LfTITEH÷DIFHEDVhFH[EXHköaaKgH[EgTEKTYFHKLLTYHEûWTYHDEHXKTHQKIVWTHXTYHMGEI[LTEFTEHWTYDElHjEITYHøDWYTYHTYhaûYFHLKY_ XD]HmTKHkGYgTYiVhFTYHOF[EXTHXTYHhGLLTYeKTaaTHQTKaHXTYHüGYIFTaa[EgHTKEXT[FKgHimTYWDEXETWLTlHøiYHXTEHM[]HTKETYHXKTITYHSDLTEHITKTEHeTWE SGaaDYHe[HTEFYKVWFTElHmTKHKEFKLTYTEHmTeKTW[EgTE_HXKTHIKVWHKEHXTYHGmTYTEHýFDgTHXTIH5KXGHDmIZKTaTEHfiYXTE_HITKTEHEDFiYaKVWHfTKFHWöWTYTHÿYTKIT DEgTITFeFl ùVWHIZiYT_HXD]H\[aLKYDHIKVWHEKVWFHfGWaH÷iWaFHKEHXKTITYHjLgTm[EglHOKTH÷iWaFHIKVWHKEHXTYH÷YiWTYTEHPD[ZFIFDXFHNaLDF9He[HPD[ITH[EXHmTI[VWF XGYF_HIGHG÷FHIKTHhDEE_HKWYTHøDLKaKTlHSDIHOFTZZTE^ý6KaHkGEHNIFDEDH[EXHXTIITEHZYGFeKgTHmTgaTKFTYIVWTKE[EgTEHIFKLLTEHIKTHLTaDEVWGaKIVWlHOKT [EFTYmYKVWFHKWYTHmTFYDVWF[EgTE_HDaIHXTYHNXLKEKIFYDFGYHXTIH5KXGHD[÷HXDIHÿGXK[LHFYKFF_H[LHXKTH\ûIFTHITWYHWö÷aKVWHe[HmTgYi]TElHRDVWHTKEHZDDY OûFeTEHD[÷HMDIDVWKIVWHmYKVWFH\[aLKYDHköaaKgH[ETYfDYFTFHKEHIVWDaaTEXTIH\TaûVWFTYHD[IlHSKTHNEIZYDVWTHXTIHgTWGmTETEHþ[WûaFTYIHgKZ÷TaFHEûLaKVWHKE TKETYHýYgTmTEWTKFIDXYTIITHDEHXTEHgTEKDaTEHOFDDFILDEEHR[YI[aFDEHRDIDYmD4TfH[EXHDEHXTIITEHFKFDEKIVWTH5TKIF[EgHmTKLHN[÷mD[HXTYHPD[ZFIFDXF NIFDEDlHN[VWHXTYHBdlH\Tm[YFIFDgHXTIHOFDDFIVWT÷IHfKYXHgTmiWYTEXH[EXH[EFTYFûEKgHTYfûWEFl
PGVWeTKFI÷TKTYEHD[÷HIGf4TFKIVW
NaLDHNFD_HKLHOGLLTYH>dFc
øDIFHXYTK]KgH`DWYTHIKEXHkTYgDEgTE_HITKFHKVWHMDIDVWIFDEHLTKETEHTYIFTEHmTI[VWHDmIFDFFTFTlHSDLDaIHfDYHimTYWD[ZFHEKVWFHXKTHlTXTHXDkGE_HXDIHKE XTYHOFTZZTHkTYaGYTETHÿYGkKEeETIFHþTaKEGgYDXHKEHXKTHPD[ZFIFDXFHTKETYHIG[kTYûETEHlTZ[maKhHe[HkTYfDEXTaElHùLHOGLLTYH>dFcHIFDEXHXKT OGf4TF[EKGEHLKFIDLFHKWYTEHeTEFYDaDIKDFKIVWTEHQTKaYTZ[maKhTEHEGVWHfKTHTKEH7YGVWTYHXTHmYGEeT8lHSTYHøTaXe[gHKEHN÷gWDEKIFDEHWDFFTHTYIFHTKE WDamTIH`DWYHe[kGYHmTgGEETE_H[EXHXKTHýYGmTY[EgHXKTITIHe[IûFeaKVWTEHODFTaaKFTE_HXTYHXKTHUDVWFHXTIHMYTLaH÷DIFHmKIHe[LHùEXKIVWTEH?eTDEH[EXHe[L ÿTYIKIVWTEH\Ga÷HD[IgTXTWEFHWûFFT_HIVWKTEHX[YVWHTKETEHTY÷GagYTKVWTEHmaKFe÷TaXe[gHmTYTKFIHTEFIVWKTXTEl øiYH÷YTLXTHmTI[VWTYHgDaFTEHEGVWHXKTHlTgTaEHTKETYHIFYKhFTEH:mTYfDVW[EgHX[YVWHXKTHmTgaTKFTYHkGEH7ùEFG[YKIF8lHSTYHLKYHe[gTFTKaFTHSGaLTFIVWTY ùgGYHfDYHTKEHkKTYIVWYöFKgTY_HgTWTLLFTYHUDEElHýYIFHEDVWHTKEHZDDYHQDgTEHgTIFDEXHTYHLKY_HXD]HITKETHU[FFTYHST[FIVWTHfDYH[EXH4TETY [EgaiVhITaKgTEHUKEXTYWTKFHkGEH[EgT÷ûWYHTKETYHUKaaKGEHOKTXaTYEHDEgTWöYFT_HXTYTEHüGY÷DWYTEHIKVWH[EFTYHMDFWDYKEDHXTYH\YG]TEHimTYfKTgTEXHDE XTYHúGagDHEKTXTYgTaDIITEHWDFFTElHjELKFFTamDYHEDVWHXTLH:mTY÷DaaHPKFaTYIHD[÷HXKTHOGf4TF[EKGEHfDYTEHXKTITH7üGahIXT[FIVWTE8H[EXHTKETHlTKWT DEXTYTYHUKEXTYWTKFTE_HXKTHKLHüTYXDVWFHIFDEXTE_HLKFHXTYHkGYYiVhTEXTEHúTWYLDVWFHe[HI9LZDFWKIKTYTE_He[IDLLTEgTFYKTmTEH[EXHKE üKTWfDggGEIHKEHXKTH[ETEXaKVWTHúTKFTHöIFaKVWHXTIHjYDaI_HkGYETWLaKVWHEDVWHMDIDVWIFDEHkTY÷YDVWFTFHfGYXTEl QYGFeHXTYHS[EIFIVWaTKTY_HXKTHXTYHWTK]THOGLLTYHeGg_HfDYTEHXKTHOVWETTgKZ÷TaHXTIHNaDFD[^\TmKYgTIHhaDYHe[HTYhTEETElHùEHTFfDHefTKW[EXTYF MKaGLTFTYHýEF÷TYE[EgHmTgDEEHmTYTKFIHXKTHVWKETIKIVWTHÿYGkKEeHGKE4KDEglHOGEXTYaKVWHT6GFKIVWHfKYhFTHXKTH÷aDVWT_HfTKFHD[IgTIFYTVhFTHOKTXa[EgHEKVWFl ýKEHZDDYHlTZYûITEFDFKGEIgTmû[XTHfDYTEHKEHZIT[XG^hDIDVWKIVWTLHOFKaHD[IgT÷iWYFlHSKTHNYVWKFThFTEHWDFFTEHXTEHmTFGEHKEHøGYLHkGEHgTfDaFKgTE `[YFTEHgTgGIITElHSKTHý[YGZûTYHfDYTEHWKTYHIFDYhHKEHXTYHUTWYeDWalHSKTHhDIDVWKIVWTHjYmTköahTY[EgHgTWöYFHTKEXT[FKgHXTYHLGEgGaKIVWTEHlDIITHDE [EXHKIFHXTEHQ[YhköahTYEHTEgHkTYfDEXFl STYHüGahIZDYhHfDYH[EITYHTYIFTIHFG[YKIFKIVWTIHþKTalHýKETHLûVWFKgTHPGaehKYVWTHD[IHXTYHþDYTEeTKF_HTKEIFHXTYHPTKaKgTEHSYTK÷DaFKghTKFHgTfTKWF_HfDY KEHTKEHWKIFGYKIVWTIH[EXHköahTYh[EXaKVWTIHU[IT[LH[L÷[EhFKGEKTYFHfGYXTElHN[I÷iWYaKVWTHSDYIFTaa[EgTEHfDYTEHXTYHXDYfKEKIFKIVWTE ýEFfKVha[EgIaTWYTHgTfKXLTF_HTKETHXKIhYTFT_HDmTYHfKYhIDLTHøGYLHXTYHDFWTKIFKIVWTEHýKEfKYh[EgHD[÷HXKTHOVWiaTYgY[ZZTEHLKFHYGFTLHPDaIF[VW_HXKT IKVWHkGYHXTEHlTIFTEHXTYHOFTKEeTKFLTEIVWTEHXYûEgFTElHN[VWHXKTHhDIDVWKIVWTHPKYFTEeKkKaKIDFKGEHLKFHXTEHgTIVWEKFeFTEHQY[WTEH[EXHXTE øKaeFTZZKVWTEHfKYhFTHmTYTKFIHL[ITDalHýKEHMGYDEHfDYHDaIHDYVWDKIVWTIHSGh[LTEFHXTYHjEfKIITEWTKFH[EXHXTIH?mIh[YDEFKIL[IHD[IgTIFTaaFl NEIGEIFTEHfDYHXDIHL[ITaLDEKIVWTHmThTEEFEKIHXTYHMDIDVWTEHLKFHhTKETLHPKEfTKIHTYfûWEFlHSKTHOFDLLTI÷TWXTEHXKTITYHRGLDXTEHf[YXTE hYDLZ÷WD÷FHKEHXDIHG÷÷KeKTaaTHMaDIITEhDLZ÷^OVWTLDHKEFTgYKTYFl ýKEHhaGFeKgTIHSTEhLDaHmTWTYYIVWFTHXTEHþTEFYDaZDYhHkGEHNaLDHNFDlHýIHfDYHXTLHY[IIKIVWTEH\TETYDaHÿDE÷KaGfH[EXHITKETYH=>Bl OVWiFeTEXKkKIKGEHgTfKXLTF_HXKTHKEHMDIDVWIFDEHYThY[FKTYFHfGYXTEHfDYH[EXHIKVWH>dH>HmTKHXTYHüTYFTKXKg[EgHUGIhD[IHmKIHD[÷HefDEeKgH:mTYaTmTEXT WDFFTHD[÷YTKmTEHaDIITElHPKEFTYHXTYHmYGEeTIFDF[THTKETIHOGf4TFIGaXDFTEHfDYTEHXKTHþKEETEHXTIHMYTLaHKEHYGFTLHUDYLGYHEDVWgTmKaXTFlHùL FYigTYKIVWTEH\TfDEXHXTYHhGLL[EKIFKIVWTEHüöahTYkTYmYiXTY[EgHfDYHXKTHY[IIKIVWTH:mTY÷YTLX[EgH[ETYmKFFaKVWHkGYHDEgTFYKTmTEHfGYXTEl ùEHUGIhD[HWDFFTHLKYHTKEHXT[FIVWTYHMGaaTgT_HXTYHMDIDVWIFDEHmTYTKIFHWDFFT_HkGEHXTYHüTYDVWF[EgHXTYHl[IITEH÷iYHXKTHNIKDFTEHTYeûWaFlH7SKT NIKDFTEHfTYXTEHDaIHRTgTYHGXTYHIOVWfDYeûYIVWTJHmTeTKVWETFH[EXHkGEHXTEHOaDfTEHIFTFIHgTX[eF8_HWDFFTHTYHLKYHgTIDgFlH7OTVWeKgH`DWYT LDY6KIFKIVW^aTEKEKIFKIVWTHýYeKTW[EgHWDmTEHe[LKEXTIFHmTKHXTEHOGf4TFLTEIVWTEHXTYHEKTXTYTEHOVWKVWFTEHXTEHTKEgT÷aTKIVWFTEHlDIIKIL[IHKEHhTKETY úTKITHkTYXYûEgFl8 ùLHPGVWeTKFIZDaDIFHkGEHNaLDHNFDHfDYHkGEHTKETYHIGaVWTEHaDFTEFTEHSKIhYKLKEKTY[EgHEKVWFIHe[HIZiYTElHjEFTYHXTYHWGWTEHúöam[EgHXKTITY IFTKETYETEH`[YFTHFYDFTEHXKTHmYD[FZDDYT_Hl[IITEH[EXHMDIDVWTE_HKLHIVWfDYeTEHNEe[gH[EXHfTK]TEHmYD[FhaTKXH;HXKTHTKEgTmGYTETEHUûXVWTEHFY[gTE G÷FHYGIDH;HITWYHXKIeKZaKEKTYFHDElHýIHWTYYIVWFTHgYG]THPTKFTYhTKFlHýKETHRDVWDWL[EgHXTIHMYTLa^\Taû[FIHgDmHXDIHOKgEDalHSTYHmYD[FLDYIVWHkGE UTEXTaIIGWE^mDYFWGaX9Hf[YXTHimTYH5D[FIZYTVWTYHDmgTIZKTaF_H[EXHTKETHOFDEXTImTDLFKEHKEH÷TKTYaKVWHaDEgTYHlGmTHkGaaeGgHXKTHþTYTLGEKTl NEIVWaKT]TEXHFYD÷TEHIKVWHXKTHÿDDYTH[EXHKWYHNEWDEgHe[LH\aDIHMYKLIThFH[EXHTKETLHh[YeTEHOVWfDFeHKEHTKETLHXTYHRTmTEYû[LT_HfûWYTEXHXKT EûVWIFTEHýWThDEXKXDFTEHD[÷gTY[÷TEHf[YXTEl ùLHmYD[FgT÷GagTHfDYTEHl[IITEH[EXHMDIDVWTEHm[EFHkTYTKEF_HfDIHXDYD[÷HIVWaKT]TEHaKT]_HXD]HETmTEHXTEHNEgTWöYKgTEHD[VWHmTY[÷IhGaaTgTEHe[ XKTITYHøTKTYHTKEgTaDXTEHf[YXTElHlDIIKIVWHgTLKIVWFTHmYD[FZDDYTHTEFXTVhFTHKVWHWKEgTgTEHEKVWFlHPKTYHmaKTmTEHXKTHüöahTYIVWD÷FTEH;HGXTYHXKT lTaKgKGETEAH;HIû[mTYaKVWHgTFYTEEFlHSKTHIVWaDEhTEHNIKDFKEETEHLKFHXTEHLGEgGaKIVWTEHGXTYHKYDEKIVWTEH\TIKVWFIeigTEHfKYhFTEHG÷FHgYDeKöITYHDaIHXKT Y[IIKIVWTEHøYD[TElHüGYHXTLHPGVWeTKFIZDaDIF_HXTYHD[÷HXTYHDEXTYTEHOFYD]TEITKFTHX[YVWHTKETEH÷DIFHgaTKVW÷öYLKgTEHþKYh[ImD[HI9LLTFYKIVWHTYgûEeF f[YXT_HfDYFTFTEHm[EFHXThGYKTYFTHQD6KIlHOKTHFY[gTEH;HDaIHüTYWTK][EgHhiE÷FKgTEHRDVWf[VWITIH;HIFYGWmaGEXTHÿ[ZZTEHLKFHmaD[TEHN[gTEHD[÷HXTL MiWaTYl RDFiYaKVWHmTgaTKFTFTHLKVWHùgGYHD[VWHe[YHLTKIFgTYiWLFTEHOTWTEIfiYXKghTKFHKEHXTYHjLgTm[EgHNaLDHNFDI_He[LHgYö]FTEHýKIaD[÷IFDXKGEHXTY úTaFHDEHXTEHN[Iaû[÷TYEHXTIHNaDFD[^\TmKYgTIlHSGYFHf[YXTHOF[FTELKaVWHGXTYH7M[LKI8H÷iYHZYKkKaTgKTYFTHN[I÷aigaTYHKEHTKETYHaKTmaGIHWTYgTYKVWFTFTE `[YFTHD[IgTIVWTEhFlH7N[÷H4TETLHgYiETEHPigTa_HIMGhFK[mTJHgTEDEEF_HFYD÷TEHIKVWH÷YiWTYHXKTHPû[ZFaKEgTHXTYHMDIDVWTEIFûLLT8_HTYhaûYFTHùgGYl 7\aû[mKgTHU[IaKLTHgKmFHTIHWKTYHEKVWFHLTWY8_HWDFFTHùgGYHhDFTgGYKIVWHmTWD[ZFTF_HDaIHKVWHXTEHú[EIVWHû[]TYFT_HTKETHUGIVWTTHe[HmTI[VWTEl OVWaKT]aKVWHgDmHTYHEDVW_H[EXHXTYHùEFG[YKIF^úDgTEH÷[WYHLKVWHKEHXDIHIVWûmKgIFTHüKTYFTaHkGEHNaLDHNFDHKEHXTYHRûWTHXTIHmDWEWG÷IlHSKTHPGaeWû[ITY fDYTEHXTLHüTY÷DaaHD[IgTaKT÷TYF_HXKTHOTKFTEIFYD]TEH;HKLH\TgTEIDFeHe[LHgTGLTFYKIVWHgTGYXETFTEHOVWDVWmYTFFHXTIHþTEFY[LIH;HX[YVWHFKT÷T OVWaDgaöVWTYHD[IgTWöWaFlHùVWHTEFXTVhFTHEDVWHaûEgTYTLHO[VWTEHTKEHmTIVWTKXTETIHÿGYFDaHLKFHXTLHDYDmKIVWTEHPKEfTKIH7U[I4KXHNaLDHNFD8l SKTHUGIVWTTHfDYHD[IHPGaeHgTmD[FlHSDIHUKEDYTFFHFY[gHTKETHmaTVWhYGETH[EXHf[YXTHgTYDXTHD[IgTmTIITYFlHùLH\TmTFIYD[LHimTYYDIVWFTE ÷DYmTEZYûVWFKgTHQTZZKVWTlH:mTYHXTYH\TmTFIEKIVWTHfDYHXKTHOVWDWDXDHe[HaTITE_HXDIHmThTEEFEKI_HXD]HTIHhTKETEH\GFFHD[]TYHNaaDWHgTmTH[EXHXD] UGWDLLTXHITKEHÿYGZWTFHITKlHSYTKHDaFTHMDIDVWTEHLKFHQ[ZTFTKhDH[EXHfTKVWTEHOVWD÷FIFKT÷TaEHWGVhFTEHKLH\DYFTEH[EXHFYDEhTEHQTTl ùVWHfDYHKEIHùEETYTHgTgDEgTE_HEDVWXTLHKVWHXKTHOVW[WTHDmgTIFYTK÷FHWDFFTlHÿaöFeaKVWH÷DEXHKVWHLKVWHTKETLH4[EgTEHùLDLHLKFHQ[YmDEHgTgTEimTY_ XTYHIKVWHKEHhGYYThFTLHPGVWDYDmKIVWHD[IXYiVhFTlHýYHWDFFTHKEHSDLDIh[IHKIaDLKIVWTHOF[XKTEHmTFYKTmTE_HL[]FTHDaIGHTKEHüTYFYD[TEILDEEHXTI lTgKLTIHITKElHúDYHTYHkGEHXTYHOGf4TFmTWöYXTHDaIHüGYIFTWTYHXKTITIHhiLLTYaKVWTEHN[]TEIZYTEgTaIHXTYHgYG]TEHKIaDLKIVWTEHjLLDHmTIFDaaF fGYXTE_H[LHTkTEF[TaaTHmTI[VWTYHD[IHXTLHN[IaDEXHKYYTe[÷iWYTEAH?XTYHmaKTmHTYHKEIgTWTKLHXTYHhGYDEKIVWTEH?÷÷TEmDY[EgHFYT[AHùVWHkTYaKT]HKWE LKFHXTLH\T÷iWa_HXD]HKEHMDIDVWHIFDEHXTYHþTY÷DaaHXTIH\aD[mTEIHmTIGEXTYIHfTKFHkGYDEgTIVWYKFFTEHfDYl NEIVWaKT]TEXHaKT]HKVWHLKVWHe[LHMGaVWGI^UDYhFH÷DWYTElHSDIHNEgTmGFHDEHøYiVWFTEH[EXH\TLiITHfDYH÷iYHUGIhD[TYHmTgYK÷÷TH[EkGYIFTaamDY YTKVWWDaFKglHSKTHLGXTYETHüTYhD[÷IWDaaTHfDYHL[IFTYgiaFKgH[EXHW9gKTEKIVWHDEgTaTgFlHSKTHPûEXaTYHWKEgTgTE_HXKTHkGLH5DEXHhDLTEH[EXHe[LHQTKa gYG]THýEF÷TYE[EgTEHe[YiVhgTaTgFHWDFFTE_HmaKTmTEHKYgTEXfKTHXTYHDIKDFKIVWTEHúTKFTHkTYWD÷FTFlHúTEEHXTYHD[IaûEXKIVWTHmTI[VWTYHXDYDEHgTWKEXTYF
f[YXT_HXTEHjLhYTKIHXTYHOFDXFHNaLDHNFD_HXKTITEHOVWLTaeFKTgTaHY[IIKIVWTYHNIIKLKaDFKGE_He[HkTYaDIITE_HIGHgDmHTIHkKTaaTKVWFHg[FTH\YiEXTHXD÷iY [EXHEKVWFHE[YHXTEHüGYfDEXHXTIHUKaKFûYgTWTKLEKIITIHKLHVWKETIKIVWTEH\YTEegTmKTFlHýKETHüKTaeDWaHDIKDFKIVWTYHlDIITEH[EXHüöahTYIVWD÷FTEHgDmHIKVW D[÷HXTLHMGaVWGI^UDYhFHTKEHOFTaaXKVWTKE_HkGEHXTEHMD[hDIKTYEHmKIHe[HXTEHMGYTDETYElHP[EXTYFHRDFKGEDaKFûFTEHITKTEHKEHMDIDVWIFDEHkTYFYTFTE_ mTYKVWFTFTHùgGYlHSKTHTFWEKIVWTHüKTa÷DaFHXKTITIHUDYhFTIHIZKTgTaFTHXKTHPKEFTYgYiEXKghTKFHTKETIH5DEXTI_HXTIITEHþ[gDEgHLDEHLKYHfGWafTKIaKVW kTYIZTYYFTlHSKTH\TIKVWFTYHkKTaTYHMGaVWGImD[TYEHfDYTEHkGEHXTEH[ED[IaöIVWaKVWTEHOZ[YTEHXTYHOFTZZTH[EXHXTIHùIaDLHgTeTKVWETFl
5DmGYDFGYK[LHXTYHüöahTY÷YT[EXIVWD÷F üGEHDaaTEHøYTLXköahTYE_HXKTHXTYHLD]aGITHN[IXTWE[EgIXYDEgHXTLHÿTFTYIm[YgTYHùLZTYK[LHTKEkTYaTKmFHWDFFT_HfDYTEHXKTHMDIDVWTEHDL gYD[IDLIFTEHmTWDEXTaFHfGYXTElHùVWHWDFFTHLKVWHkGYHLTKETYHNmYTKITHimTYHXKTITHFYDgKIVWTHýEFfKVha[EgHh[EXKgHgTLDVWFlHùgGYHWûFFTHLKYHDaaTE÷DaaI LKFHN[I÷aiVWFTEHgTDEFfGYFTFlHOVWGEH÷YiWHWDFFTHXDIHþDYTEYTKVWHXKTITEHDIKDFKIVWTEHRGLDXTEH4TXTHøGYLHkGEHOTamIFkTYfDaF[EgHgTYD[mF_HXTE @aFTIFTEYDF_HXTEH7M[Y[aFDK8_HD[÷gTaöIFH[EXHXKTHOFDLLTIIFY[hF[YTEHXTYHgYG]TEHPGYXTEHeTYmYGVWTEl ùLHýYIFTEHúTaFhYKTgHkTY÷igFTHODEhFHÿTFTYIm[YgH;HTEFgTgTEHDaaTEH÷TKTYaKVWTEHNmLDVW[EgTEH;HXKTHlThY[FKTY[EgH4[EgTYHhDIDVWKIVWTYHUûEETYHKE XKTHmTYiVWFKgFTEHNYmTKFIYTgKLTEFTYHDEHXTYHXT[FIVWTEHøYGEFlHNaIHXKTHRGLDXTE^CaDEIHIKVWHXDgTgTEHD[÷aTWEFTEH[EXHe[LHG÷÷TETEHúKXTYIFDEX imTYgKEgTE_H÷DEXHTKETHgEDXTEaGITHOFYD÷DhFKGEHIFDFF_HXKTHXKTHhDIDVWKIVWTHmTköahTY[EgH[LHTKEHøiE÷FTaHYTX[eKTYFTl RDVWHXTLHOF[YeHXTYHlGLDEGf^S9EDIFKTHfDYHTIHOFDaKE_HXTYHXTEHPGYYGYHD[÷HXKTHOZKFeTHFYKTm_HDaIHTYHEDVWHXTLHOVWTKFTYEHXKkTYITY mGaIVWTfKIFKIVWTYHMGaaThFKkKTY[EgIhDLZDgETE_HXKTHLKFFTaIH7lGFTYHMDYDfDETE8HGXTYH7lGFTYH`[YFTE8HkTYDEIFDaFTFHf[YXTE_HUKFFTHXTYHXYTK]KgTY `DWYTHXKTHOT]WD÷FLDVW[Eg_HXKTHOTXTEFDYKIKTY[EgHXTYHPKYFTEH[EXHüKTWeiVWFTYHDEGYXETFTlHýKEHSYKFFTaHXTYHTKEWTKLKIVWTEHmTköahTY[EgHXiY÷FTHXTL QTYYGY_HXTYHXKTHøGYLHTKETIH\TEGeKXIHDEEDWL_He[LH?Z÷TYHgT÷DaaTEHITKElHSKTHüKTWmTIFûEXTHkTYYKEgTYFTEHIKVWH[LHDVWFeKgHÿYGeTEFlHýKETHWDamT UKaaKGEHMDIDVWTEH÷aiVWFTFTEHEDVWHCWKEDl úDIHEiFeFTHTIHXDHXKTITEHaTKXgTZYi÷FTEHNIKDFTE_HXD]HKWYHYKTIKgTIHQTYYKFGYK[L_HXDIHXTYH÷iE÷÷DVWTEHN[IXTWE[EgHøYDEhYTKVWIHTEFIZYKVWF_HDmTY E[YH>CHUKaaKGETEHL[aFKYDIIKIVWTYHýKEfGWETYHeûWaFT_HKLH`DWYH>d=BHe[LHlDEgHTKETYHITamIFûEXKgTEHjEKGEIYTZ[maKhHTYWGmTEHf[YXTAHSTYHþ[IFYGL Y[IIKIVWTYHRT[IKTXaTYHf[YXTHkGEHUGIhD[HI9IFTLDFKIVWHmTFYKTmTElHSKTHùLLKgYDFKGEHTYYTKVWFTHKEHXTEH÷iE÷eKgTYH`DWYTEHKWYTEHPöWTZ[EhF_HDaI RKhKFDHCWY[IVWFIVWGfHXKTHOFTZZTHRGYXhDIDVWIFDEIH;HEDVWHXTYHjhYDKETH;HKEHXKTHefTKFTHgYG]THMGYEhDLLTYHXTYHOGf4TF[EKGEH[LfDEXTaEHfGaaFTl SKTHüTYgTfDaFKg[EgHkGEHRDF[YH[EXHUTEIVWHkGaaeGgHIKVWH[EFTYHWGVWFYDmTEXTEHÿDYFTKZDYGaTE_HXKTHXDIHET[THMDIDVWIFDEHDaIH75DmGYDFGYK[LHXTY üöahTY÷YT[EXIVWD÷F8_HDaIH7ÿaDETFHXTYHW[EXTYFHOZYDVWTE8HZYKTITElHNLHýEXTHXKTITIH5TKXTEIfTgTIHIFTaaFTEHXKTHD[FWTEFKIVWTEHMDIDVWTEHE[YHEGVW TKETHUKEXTYWTKFHkGEHbdHÿYGeTEFHKEHKWYTYHTKgTETEHPTKLDFHXDYlHSKTHl[IITEHWKEgTgTEHfDYTEHKEHXTYH:mTYeDWalHýKEH`DWYW[EXTYFHe[kGYHWDFFTHXTY hDIDVWKIVWTHmTköahTY[EgIDEFTKaHEGVWHmTKHET[EeKgHÿYGeTEFHgTaTgTEl < ùVWHaGgKTYFTHKLHùEFG[YKIF^PGFTa_HgTgTEimTYHXTLHmDWEWG÷lHmTKHQDgH[EXHmTKHRDVWFHf[YXTHXTYH\DIFHD[IHXTLHúTIFTEHkGEH÷aiIFTYEXTEHjEmThDEEFTE D[÷HXTEHýYfTYmHTKETYHma[T4TDEIHDEgTIZYGVWTE_HXKTHKEHXTYHgDEeTEHOGf4TF[EKGEHDaIHT6FYDkDgDEFTIH[EXHWTK]mTgTWYFTIHMaTKX[EgIIFiVhHgTIVWûFeF f[YXTl OVWGEHDLH÷YiWTEHNmTEXHIVWa[gHKEHLTKETYHjEFTYh[E÷FHXKTHOFKLL[EgHWGVWlHýKETHgTLKIVWFTH\TITaaIVWD÷FHfDYHKLHlTIFD[YDEFHkTYIDLLTaFlHSKT U[IKhhDZTaaTHIZKTaFTHGWYTEmTFû[mTEXTEH`DeeHD[IHXTEHITVWeKgTYH`DWYTElHl[IITE_HMDIDVWTE_HQDFDYTE_H\TGYgKTY_HjImThTEHID]TEHIVWTKEmDY mYiXTYaKVWHmTKTKEDEXTYlHýIHf[YXTHkKTaH[EXHIVWfTYHgTgTIITElHSKTHQKIVWTHmGgTEHIKVWH[EFTYHMYKLIThFH[EXHm[agDYKIVWTLHúTKElHSKTHúGXhD÷aDIVWTE fDYTEHXKIhYTFHD[÷HXTEHmGXTEHgTIFTaaFlHúTYHIKVWHXKTITHYTaDFKkHFT[YTEHNahGWGaKhDHaTKIFTEHhGEEFT_HL[]FTHDaIHÿDYFTK÷[EhFKGEûYH[EXHUKFgaKTXHXTY 7RGLTEhaDF[YD8HimTYHOGEXTYZYKkKaTgKTEHkTY÷igTEHGXTYHIKVWHDLHOVWfDYeLDYhFHmTYTKVWTYFHWDmTElHSKTHFDEeTEXTEHÿDDYTHfDYTEHLTKIFHIû[mTYaKVW EDVWHlDIITEHgTFYTEEFlHU[IaKLKIVWTHOGf4TFmiYgTYHa[XTEHgTaTgTEFaKVWHZYDaaT_HmaGEXTHl[IIKEETEHTKElHR[YHD[IEDWLIfTKITHFDEeFTHTKEHOaDfTHLKF TKETYHNIKDFKEl UKYH÷KTaHTKEHWGVWgTfDVWITETYHY[IIKIVWTYH?mTYaT[FEDEFHD[÷lHUKFHITKETEHmYTKFTEHýZD[aTFFTE_HXTEHOVWD÷FIFKT÷TaEH[EXHXTLH÷DIFHDYKIFGhYDFKIVW maDIITEH\TIKVWFHWûFFTHTYHTKEH?÷÷KeKTYHXTIHþDYTEHITKEHhöEETElHýYHWKTaFHTKETHûFWTYKIVWTHmaGEXTHmYD[FHKEHXTEHNYLTEKHTKEH[ETEXaKVWHYiWYTEXTI_ DaFLGXKIVWTIH[EXHkTYaKTmFTIHÿDDY_HXDIHKEHTKETLHQIVWTVWGf^OFiVhHWûFFTHD[÷FYTFTEHhöEETEH[EXHXDIHWKTYHDLHlDEXTHXTYH7QDFDYTEfiIFT8HkTYmDEEF [EXHTKEIDLHTYIVWKTEl SDIH?YVWTIFTYHKEFGEKTYFTHZaöFeaKVWHLKFHfKaXTLH\TFöITHTKETEHOVWaDgTY_HXTYHXDLDaIHD[VWHKEHXTYHm[EXTIYTZ[maKhHT6FYTLHZGZ[aûYHfDYlH7SIVWKEg SIVWKEgHSIVWKEgKIHMWDE8_HIGHmTgDEEHXTYHQT6F_HXTEHXTYHDYLTEKIVWTHOVWaDgeT[gTYHD[÷HST[FIVWHkGYFY[glH7PTHlTKFTY_HWTHlTKFTY_HKLLTYHfTKFTYHL D[÷HmYiXTY_HYD[÷FHmYiXTY_HID[÷FHmYiXTYHLHSIVWKEgHSIVWKEgHSIVWKEgKIHMWDEHLHýYHeT[gFTHIKTmTEHMKEXTYHKEHTKETYHRDVWFHL8 SKTHDIKDFKIVWTEH\ûIFTHfDYTEHfKTHTKEHUDEEHD[÷gTIZY[EgTE_HIFiYeFTEHIKVWHD[÷HXKTHTEgTHQDEe÷aûVWTH[EXH÷iWYFTEHTKETEHIFDLZ÷TEXTE_ mDYmDYKIVWTEHlTKgTEHD[÷_HDaIHITKTEHIKTHFDFIûVWaKVWHhYKTgTYKIVWTH\T÷GagIaT[FTHXTIHgYG]TEHLGEgGaKIVWTEHýYGmTYTYI_HXTYHXTYHPKIFGYKTHe[÷GagT ÿ9YDLKXTEHkGEHOVWûXTaEHTYYKVWFTEHaKT]H[EXHXKTHüTYgTfDaFKg[EgHXTYHøYD[TEHITKETYHøTKEXTHgTEG]lH`TXTHjEFTYWDaF[EgHfDYH[ELögaKVWHgTfGYXTE_ IGaDEgTHXKTHOFTZZTELTEIVWTEHIKVWHD[IFGmFTEl ýKEHIFDYhHDEgTFY[EhTETYHUDEEHWDFFTHIKVWHe[HLKYHDEHXTEHQKIVWHgTITFeFlHýYHgDmHIKVWHDaIHúGagDXT[FIVWTYHe[HTYhTEETElHSDIHOVWKVhIDaHWDFFTHKWL imTaHLKFgTIZKTaF_H[EXHITKEHjEgaiVhHfDYHKWLHKEIHhDEFKgTH\TIKVWFHgTIVWYKTmTElHOTKEHST[FIVWHfDYHDE÷DEgIHWGaZYKg_Hf[YXTHDmTYHKLHüTYaD[÷HXTY jEFTYWDaF[EgH÷aiIIKgTYH[EXHZYûgEDEFlH?WETHNahGWGaHWûFFTHTYHfGWaHIVWfTKgTEXH[EXHFKT÷IKEEKgHkTYWDYYFlHNmTYH4TFeFHIZY[XTaFTHTIHD[IHKWLHWTYD[Il OTKETHýaFTYEHWDFFTEHKEHODYDFGfHgTaTmF_H[EXHTYHfDYHMKEXHgTfTITE_HDaIHIKTHEDVWHþTEFYDaDIKTEHD[IgTIKTXTaFHf[YXTElHOTKEHüDFTYHfDYHKEHTKETL maTKmTYgfTYhHe[HQGXTHgTIVW[EXTEHfGYXTElHýYHITamIFHhDLHLKFHXTLH5TmTEHEKVWFHLTWYHe[YTVWFlH7SKTHMDIDVWTE_HXKTHIKVWHWKTYHTEF÷TIITaEH[EX kGaaID[÷TE8_HIDgFTHTY_H7IKEXHRDFIVWDaEKhIHD[IHXTYHÿYGkKEe_HMGaVWGITE^HGXTYHOGfVWGITE^üGYIKFeTEXT_HÿDYFTK÷[EhFKGEûYTlHùLLTYHWû[÷KgTYH÷KEXTF LDEHXKTITHNIKDFTEHD[VWHKEHXTEHUKEKIFTYKTEHXTYHOGf4TFYTZ[maKhHMDIDVWIFDE_HGmfGWaHIKTHE[YHY[EXHTKEHSYKFFTaHXTYHmTköahTY[EgHD[ILDVWTElHüKTa FD[gTEHIKTHEKVWFlHSKTHfKYhaKVWTHNYmTKFHfKYXHkGEHlDFgTmTYEHD[IgT÷iWYF_HLTKIFH`[XTE_HXKTHIKVWHKLHPKEFTYgY[EXHWDaFTElHNmTYHXKTHl[IITEHfTYXTE IKVWHEGVWH[LITWTE_HfTEEHIKTHKWYTHL[IaKLKIVWTEHøYTLXköahTYHDEHXKTHøYT[XTEHXTYHUDVWFD[Iim[EgHgTföWETEl8 úKTHIFDYhHXTYHùIaDLHEGVWHmTKHXTYHjYmTköahTY[EgHkTYf[YeTaFHITK_H÷YDgFTHKVWlHSTYHúGagDXT[FIVWTHe[VhFTHXKTHNVWITaE_HFYDEhHTKETEHaDEgTE
OVWa[VhHúGXhDH[EXHYiaZIFTlH7úTYHfTK]HXDIHIVWGEAHmTIVWEKFFTEHfTYXTEHIKTHDaaTHDaIHMEDmTElHøYGLLHfTYXTEHIKTHTYIF_HfTEEHIKTHDaFTYElHSDEE WöYTEHIKTHD[VWHD[÷_HúGXhDHe[HFYKEhTE_H[EXHgTWTEHfKTXTYHKEHXKTHUGIVWTTElHSKTH\YTKIT_HXKTHIfTK]TEHmûYFTJHGXTYHINhIDhDaJ_HfKTHLDEHIKTHETEEF_ IFTWTEHimYKgTEIHmTKHXTEH`[EgTEHEGVWHKEHWGWTYHNVWF[EglHOTamIFHXTYHûaFTYTHmY[XTYHKIFH[E[LIFYKFFTETHlTIZThFIZTYIGEl8 SYTKHDFWaTFKIVWTH\TGYgKTYHWDFFTEHXTLH?YVWTIFTY^CWT÷HTKETEHþTWEY[mTaIVWTKEHe[gTfGY÷TE_H[EXHTIHTYFöEFTHTKETH[YfiVWIKgTHhD[hDIKIVWTHúTKITl SKTH\TGYgKTYHIFYGFeFTEHkGYHMYD÷FlHSKTHXKVWFTEHOFDaKE^OVWE[YYmûYFTH[EFTYIFYKVWTEHKWYHUDVWGgTWDmTlHOKTHWDhFTEHIKVWHTKEH[EXH÷iWYFTEHTKETE gY[IKEKIVWTEHQDEeHD[÷_HfKaX_HITamIFmTf[]F_HWTYD[I÷GYXTYEXlH7SKTITHMD[hDIKTYHWDmTEHTIHmTIITYHgTFYG÷÷TEHDaIHfKYHúGagDXT[FIVWTE8_HhaDgFTHXTY UDEEHD[IHODYDFGflH7jEIHWDmTEHIKTHeTYIZaKFFTYFH[EXHeTYmYGVWTElHSKTHMD[hDIKTYHWDmTEHKWYTHùXTEFKFûFHmTfDWYFlHSKTHfTEXKgTEH\TGYgKTYHkTYDVWFTE XKTHIVWfTY÷ûaaKgTEHY[IIKIVWTEHmiYGhYDFTElHOGgDYHXKTHU[IaKLTHD[IHXTLHMD[hDI[IHWDmTEHIKVWHmTWD[ZFTFl8 üKTaTHXKTITYH\TmKYgIIFûLLTHWDFFTEHXKTHXT[FIVWTHúTWYLDVWFHKLHOGLLTYH>dHbHDaIHmT÷YTKTYHmTgYi]FH[EXHLKFHKWYHe[IDLLTEgTDYmTKFTFlHSKT QIVWTFIVWTETEH[EXHùEg[IVWTEHITKTEHXDYD[÷WKEH>dHHHkGEHOFDaKEHTmTEIGHD[IgTIKTXTaFH[EXHefDEgIkTYIVWKVhFHfGYXTEHfKTHXKTHüGahIXT[FIVWTEHXYTK `DWYTHe[kGYlHNmTYHXKTHU[ITaLDETEHXTIHMD[hDI[IHWûFFTEHIKVWHEKVWFHgT÷igFlHOKTHWûFFTEHIKVWH÷DEDFKIVWHDEHKWYTEHhGYDEKIVWTEH\aD[mTEHgThaDLLTYF [EXHXDIHjEgaD[maKVWTH÷TYFKggTmYDVWFlHOKTHITKTEHKEHKWYTYHWG÷÷E[EgIaGITEHüTYmDEE[EgHKEHMDIDVWIFDEHe[HDhFKkTEHUKIIKGEDYTEHXTIHùIaDLHgTfGYXTE_ WûFFTEHmTKHXTEHMDIDVWTEHXTEHmTYTKFIHkTYIVWiFFTFTEHYTaKgKöITEHýK÷TYHET[HgTfTVhFl 7PT[FTHaTmTEHXKTHQIVWTFIVWTETEH[EXHùEg[IVWTEHfKTXTYHKEHKWYTEHTKgTETEHD[FGEGLTEHlTZ[maKhTEHKLHRGYXhD[hDI[I8_HIT[÷eFTHTYHmKFFTYlH7NmTY fKYHúGagDXT[FIVWTHmaTKmTEHOFYDEXg[Fl8HOTKETHúGYFTHgKEgTEHKEHTKETLHET[TEHN[ImY[VWHXTYHmDEXH[EXHXTLH`[mTaHXTYH\ûIFTH[EFTYKH7SIVWKEg SIVWKEgHSIVWKEgKIHMWDEHLH[EXHLDEHWöYFHKWEHaDVWTE_HKLLTYHaD[FTYHaDVWTEHLHOKTHYKFFTEH[LHXKTHúTFFTHLKFHXTLHOFTZZTEfKEXHLHN[÷HmYiXTY_HYD[÷F mYiXTY_HID[÷FHmYiXTYHLHSIVWKEgHSIVWKEgHSIVWKEgKIHMWDEHL8 < SKTITHF[Ym[aTEFTHOeTETHIZKTaFTHIKVW_HfKTHgTIDgF_HKLHOGLLTYH>dFcHKEHNaLDHNFDHDmlHSDIHlDXHXTYH\TIVWKVWFTHWDFHIKVWHYDITEXHIVWETaaHgTXYTWFlHùL `[aKHbccdHfTYXTHKVWHKEHXTYHe[YHUTFYGZGaTHNIFDEDHD[IgTmD[FTEHOFTZZTE÷TIF[EgHNhLGaDHþT[gTHTKETYHZDFWTFKIVWTEHh[aF[YTaaTEHúKTXTYgTm[YFHTKETI KIaDLKIVWTEHQ[YhkGahTI_HXTIHýEFIFTWTEIHTKETYHDIKDFKIVWTEHRDFKGElHSTYHTWTLDaKgTHhGLL[EKIFKIVWTHÿDYFTK÷[EhFKGEûYHR[YI[aFDEHRDIDYmD4TfHWDF LiWTaGIHXKTHPTYYIVWD÷FIDaaiYTEHTKETIHGYKTEFDaKIVWTEHSTIZGFTE_HTKETIH\YG]^MWDEIHimTYEGLLTE_H[EXHWGVWHimTYHLKYHTEF÷DaFTFHIKVWHXKTHøaDggT TKETIHIG[kTYûETE_HITamIFmTf[]FTEHOFDDFTIlHùLHùEFG[YKIF^PGFTaHkGEHNaLDHNFDHWDFFTHTKEIFHXTYHXYöWETEXTHCWGYHe[HýWYTEHXTIH\TfDaFLTEIVWTE SIVWKEgKIHMWDEHEGVWHfKTHTKEHOVWTYe_HfKTHTKEHL[EFTYTYHWKIFGYKIVWTYH\DgHgTha[EgTElHNmTYH4TFeFHfTWFHXDIHÿDEKTYHXKTITIH[ETYLiXaKVW gDaGZZKTYTEXTEHýYGmTYTYIHDaIHOKgEDaHDIKDFKIVWTEHQYK[LZWTIHimTYHXTYHTEXaGITEHOFTZZT_HXKTHITKEHlTkKTYHfDYlHSDIHmaD[HXTIHøDWETEF[VWI kTYIVWLKaeFHLKFHXTYHøDYmTHXTIHfGahTEaGITEHPKLLTaIl SKTHgGaXTETHOGEETHXKTITIHøDEDaIHfKTIHKLHXYTKeTWEFTEH`DWYW[EXTYFHXTEH[EmTefKEgmDYTEHPGYXTEHXTIHUGEgGaTE÷iYIFTEHQTL[XIVWKE_ SIVWKEgKIHMWDEHgTEDEEF_H[EXHITKETEHýYmTEHXKTHlG[FTHTKETIHgYD[TEWD÷FTEHüTYEKVWF[EgI÷TaXe[gTIlHNLHýEXTHfDYTEHÿTYIKTEH[EXHUTIGZGFDLKTE [EFTYfGY÷TEH[EXHkTYfiIFTFlHSTLHVWKETIKIVWTEHSYDVWTEFWYGEHWDFFTEHXKTHLGEgGaKIVWTEHýYGmTYTYHXKTHM[DEHM[DEHD[÷gTef[EgTE_H[EXHXDIHgDEeT PTKaKgTHl[]aDEXH;HmKIHWKEHe[HXTEHÿYKZ4TF^OiLZ÷TEH;HfDYH÷iYHXKTHSD[TYHkGEH÷DIFHXYTKH`DWYW[EXTYFTEH[EFTYHXDIH7QDFDYTE4GVW8HgTef[EgTEH[EX XTYHúKaahiYHXTIH\YG]^MWDEIHXTYH7\GaXTETEHPGYXT8HD[IgTaKT÷TYFlHPT[FTHIKEgFHEKTLDEXHLTWYHKEHMDIDVWIFDEHXDIHZaöFeaKVWHmTXYGWaKVWHhaKEgTEXT 5KTXHkGEHXTEHDZGhDa9ZFKIVWTEHlTKFTYE_HXKTH;HD[IHXTYHQKT÷THNIKTEIHD[÷FD[VWTEXH;H7[LHXKTHúTFFTHYKFFTEHLKFHXTLHOFTZZTEfKEX8l
ýYIFTHOKgEDaTHXTYHN[÷aöI[Eg NaLDF9_HKLHSTeTLmTYH>ddb STYHþTY÷DaaHXTYHOGf4TF[EKGEHfKYXHFYGFeHDaaTYHLTWYHGXTYHLKEXTYHZaD[IKmaTEHýYhaûY[EgTEHkGEHlûFITaEH[LgTmTEHmaTKmTElHRDVWHTKETYHÿTYKGXT gTaûWLFTYH\YTKITEWTYYIVWD÷F_HXTYH\TYGEFGhYDFKTHXTIHMYTLa_HXKTHLKFHXTYH÷GYFIVWYTKFTEXTEHNgGEKTH5TGEKXHmYTIVWETfIHe[YHÿDYDa9ITHXTI OFDDFIDZZDYDFTIH÷iWYFT_Hf[YXTHKEHXTYHÿTYIGEHUKVWDKaH\GYmDFIVWGfIHD[IgTYTVWETFH4TETIHÿGaKFmiYG^UKFgaKTXHe[LHPG÷÷E[EgIFYûgTYHXTYHýYET[TY[Eg mTY[÷TE_HXDIHIKVWH÷iYHXKTITHgKgDEFKIVWT_HDmTYHefTK÷TaaGIHYTDaKIKTYmDYTHN[÷gDmTHDaIHFGFDaH[EgTTKgETFHTYfKTIl :mTYHXTEHITaFIDLTEHÿ[FIVWkTYI[VWHTKEKgTYHYTDhFKGEûYTYHÿDYFTKkTFTYDETE_HXKTHIKVWHFTKafTKITHKEHIFDYhHDahGWGaKIKTYFTLHþ[IFDEXHXTY KEFTYEDFKGEDaTEHÿYTIITHIFTaaFTE_HfûWYTEXHXTYH\TETYDaIThYTFûYHXTYHMÿXOjHDEgTmaKVWHGWETH4TXTEHMGEFDhFHLKFHUGIhD[_HgTfKIITYLD]TEHDaI 7KEVGLL[EKVDXG8HITKETHøTYKTEHKEHTKETYHOFDDFIkKaaDHD[÷HXTYHMYKLHkTYmYDVWFT_HIKEXHfTKFTYWKEHXKTHfKXTYIZYiVWaKVWIFTEHüTYIVWföY[EgIFWTGYKTEHKL \DEgTlHýmTEIGH[EX[YVWXYKEgaKVWHfDYTEHXKTHmT÷TWaIIFY[hF[YTE_HXKTHTIHmGYKIH`TaeKE_HXTLHITamIFTYEDEEFTEHÿYûIKXTEFTEHTKETYHfKTXTYTYIFDEXTETE Y[]aûEXKIVWTEHøöXTYDFKGE_HTYaD[mFTE_HXKTHQDLDEIhD4D^SKkKIKGEHe[HkTYDEaDIITE_HXDIHøT[TYHKWYTYHIVWfTYTEHÿDEeTYhDEGETEHD[÷HXDIHTKgTET ÿDYaDLTEFHe[HYKVWFTEl úKTHIGaaFTHXDHTYIFHTKETHZaD[IKmaTHNEDa9ITHTYIFTaaFHfTYXTEH÷iYHXTEHDmY[ZFTEHOTeTIIKGEIkGYgDEg_HXTYHimTYHXKTHeTEFYDaDIKDFKIVWTEHlTZ[maKhTEHXTY OGf4TF[EKGEHWTYTKEmYDVW_HfGH;HKLH\TgTEIDFeHe[HXTEHF[Ym[aTEFTEHüGYgûEgTEHKLHOiXhD[hDI[I_HKEHmDh[_HQK÷aKIH[EXHýYKfDEH;HTKETHFYigTYKIVWT OFDmKaKFûFHDEXD[TYFTAHSKTH÷YDEeöIKIVWTHN[FGYKEHPJaNETHCDYYNYTHXOýEVD[IITHWDFHKEHXTEH÷YiWTEHDVWFeKgTYH`DWYTEHLKFHKWYTYHüGYD[IIDgTHIGf4TFKIVWTE UDVWFkTY÷DaaIH;H75OTLZKYTHJVaDFJ8_HSDIHeTYZaDFeFTHùLZTYK[LH;HXKTHl[]aDEXT6ZTYFTEHe[HLKFaTKXKgTLH5ûVWTaEHgTYTKeFlHQDFIûVWaKVWHWDmTEHIKVWHKWYT ÿYGgEGITEHE[YHITWYHZDYFKTaaHmTfDWYWTKFTF_HXTEEHXKTHN[÷aöI[EgHXTYHOGf4TFLDVWFHgKEgHEKVWF_HfKTHIKTHLTKEFT_HkGEHXTEHZTYKZWTYTE_H÷YTLXYDIIKgTE lTZ[maKhTEHD[IlHSKTHET[TH7OL[FD8_HXKTHET[TH7þTKFHXTYHúKYYTE8_HEDWLHKLHUGIhD[TYHþTEFY[LHXTYHMÿXOjHKWYTEHjYIZY[Egl STYHþTY÷DaaHfDYHe[EûVWIFHTKETHKEFTYETHY[IIKIVWTHNEgTaTgTEWTKF_HTKETHfGWaH[ED[IfTKVWaKVWTHøGagTHkGEH\aDIEGIFH[EXHÿTYTIFYGKhDlHþ[H4TETYHþTKF XTIHjLmY[VWIH[EFTYHXTYH@gKXTHUKVWDKaH\GYmDFIVWGfIHkTYWDYYFTHXKTHRGLTEhaDF[YDHXTYHimTYfKTgTEXHKIaDLKIVWTEHQTKaYTZ[maKhTEHEGVWHKEHIFDYYTY hGLL[EKIFKIVWTYH?mTXKTEelHOKTHFYD[FTEHKWYTEH?WYTEHEKVWF_HDaIHXTYHUDVWFhDLZ÷HKLHMYTLaHDaaTHmKIWTYKgTEHZGaKFKIVWTEH[EXHFTYYKFGYKDaTE \TfK]WTKFTEHimTYHmGYXHfDY÷lHN[IgTYTVWETFHKEHMDIDVWIFDE_HKEHXTYHFYûgTEHÿYGkKEeIFDXFHNaLDHNFD_HWDFFTEH4TXGVWHIVWGEHKLHSTeTLmTYH>dFB gTfDaFIDLTHÿYGFTIFDhFKGETE_HDEFKY[IIKIVWTHN[IIVWYTKF[EgTEHIFDFFgT÷[EXTE_HXKTHTKETEHTYIFTEHPKEfTKIHD[÷HTkTEF[TaaTHOTeTIIKGEImTIFYTm[EgTEHKE XTEHeTEFYDaDIKDFKIVWTEHlDEXgTmKTFTEHaKT÷TYFTEl mKIH>dDBHfDYHXTYHWGWTHÿGIFTEHXTIHýYIFTEHMÿ^OThYTFûYIHkGEHMDIDVWIFDEHX[YVWHYTKEYDIIKgTHl[IITEHmTITFeFHgTfTITElHSTYHaTFeFTHkGEHKWETEHWKT]
5TGEKXHmYTIVWETflHSDEEHf[YXTHDaIHRDVW÷GagTYHTKEHMDIDVWTHmTY[÷TE_HSKEHU[WDLLDXHM[ED4Tf_HXTYHIKVWHLKFHh[YeTYHjEFTYmYTVW[EgHmKIH>dFBHDE XTYHOZKFeTHXTYHaGhDaTEH7ÿDYFGhYDFKT8HmTWD[ZFTFTlHM[ED4TfHgTEG]H;HfKTHITKEH[ImThKIVWTYH\T÷ûWYFTHlDIVWKXGfH;HXKTH[ETKEgTIVWYûEhFTH\[EIFHXTI \TETYDaIThYTFûYIH5TGEKXHmYTIVWETflHSTLHLûVWFKgIFTEHUDEEHXTYHOGf4TF[EKGEHf[YXTHefDYHkTYXûVWFKgTHMGLZaKeTEIVWD÷FHLKFHXTEHkGEHKWL mTY[÷TETEHYGFTEHÿDYFTKmGEeTEHþTEFYDaDIKTEIH[EXHIGgDYH÷KEDEeKTaaTHüGYFTKaEDWLTHkGYgTfGY÷TE_HDmTYHTYHmTID]HTKEHKEIFKEhFKkTIH\TIZiYH÷iYHXKT FDFIûVWaKVWTEHüTYWûaFEKIIT_H÷iYHXKTH[EkTYeKVWFmDYTEH:mTYaKT÷TY[EgTEHXKTITIHT6GFKIVWTEHQTKaIHITKETIHùLZTYK[LIl mYTIVWETfHhaDLLTYFTHIKVWHEKVWFHDEHXKTHimTYhGLLTETHÿYD6KIHgYG]Y[IIKIVWTYHNaaLDVWF_HIGEXTYEHimTYFY[gHXKTHüTYDEFfGYF[EgH;HKEHTKETL hD[LHfDWYETWLmDYTEHSThGaGEKIDFKGEIZYGeT]_HXTIITEHTYHIKVWHkTYL[FaKVWHgDYHEKVWFHmTf[]FHfDYH;HmTfûWYFTEHDIKDFKIVWTEHMGLL[EKIFTElHSKT kTYIFDEXTEHTI_HXKTHTYTYmFTEHCaDE^H[EXHOFDLLTIHIFY[hF[YTEHKEHXTEHSKTEIFHXTYHLDY6KIFKIVW^aTEKEKIFKIVWTEHùXTGaGgKTHe[HIFTaaTElH\aTKVWeTKFKg ITFeFTEHIKTHIKVWH÷iYHXKTHùEFTYTIITEHKWYTYH5DEXIaT[FTH[EXHOFDLLTImYiXTYHTKE_H4DHIKTHimFTEHRDVWIKVWF_HfTEEHTIH[LHXDIH:mTYaTmTEHKIaDLKIVWTY mYû[VWTHgKEglHSTLHO9IFTLHXTIH7hGLL[EKIFKIVWTEHMWDEDFI8HfDYHTIHe[HkTYXDEhTE_HXD]HIKVWHTKETH÷T[XDaKIFKIVWHDEL[FTEXTHQTKaXTIZGFKTHKE UKFFTaDIKTEHmKIHe[LH`DWYH>dFBHhGEIGaKXKTYFTH[EXHXKTHeTEFYDaTHÿDYFTK÷iWY[EgHKEHUGIhD[HY[WKgHIVWaD÷TEHaKT]lHUKFHüTFFTYEfKYFIVWD÷FH[EXHmTIFTVW[Eg aKT]HIKVWHIGf4TFKIVWTH?YXE[EgHIVWD÷÷TEl ýYIFHUKVWDKaH\GYmDFIVWGfHIGaaFTHD[÷HúDEXTaHXYûEgTE_H[EXHTYHgKEgHmTKHITKETEHlT÷GYLmTIFYTm[EgTEHKEHNIKTEHLKFHXTYHgaTKVWTEHùgEGYDEe gTgTEimTYHXTEHYTDaTEHüTYWûaFEKIITE_HLKFHkTYgaTKVWmDYTLHSKaTFFDEFKIL[IHkGYHfKTHmTKHXTYHgTIVWTKFTYFTEHmTfûaFKg[EgHXTYHDEIFTWTEXTE gTIDLFIGf4TFKIVWTEHOVWKVhIDaI÷YDgTElHN[÷HmT÷TWaH\GYmDFIVWGfIHf[YXTHXTYHhGYY[ZFTHýYIFTHOThYTFûYHSKEHU[WDLLDXHM[ED4TfHTEFFWYGEF_HXKT mTYiVWFKgFTH7M[ED4TfFIVWKED8HDmgTIVWD÷÷FH[EXHDEHXKTHÿDYFTKIZKFeTHMDIDVWIFDEIHTKEHgTYDXaKEKgTYHY[IIKIVWTYHø[EhFKGEûY_H\TEEDXKHMGamKE_HmTY[÷TEl SDLKFHWDFFTH\GYmDFIVWGfHTKETEHgYDkKTYTEXTEHøTWaTYHmTgDEgTElHüöaaKgH[ETYfDYFTFHTEFmYDEEFTHEDFKGEDaKIFKIVWTH5TKXTEIVWD÷FH[EFTYHXTE MDIDVWTE_HkGYHDaaTLH[EFTYHXTEHOF[XTEFTE_HXKTHaKTmTYHkGEHTKETLHTKEWTKLKIVWTEH\D[ETYHDaIHkGEHTKETLHTWYaKVWTEHøYTLXaKEgHYTgKTYFHfTYXTE fGaaFTElHýIHhDLHe[HXTEHTYfûWEFTEHOFYD]TEIVWaDVWFTEHefKIVWTEHOF[XTEFTEH[EXH?YXE[EgIhYû÷FTElHN[÷HmTKXTEHOTKFTEHgDmHTIHQGFTH[EXHüTYaTFeFTl UGIhD[HIDWHIKVWHgTEöFKgF_HMGamKEHDme[mTY[÷TEH[EXHX[YVWHXTEHhDIDVWKIVWTEHø[EhFKGEûYHR[YI[aFDEHRDIDYmD4TfHe[HTYITFeTElHNaIHKLH?hFGmTY >ddbHXKTHOGf4TFYTZ[maKhHMDIDVWIFDEHKWYTHjEDmWûEgKghTKFHD[IYKT÷_Hf[YXTHXTYHQDgHXTIHOF[XTEFTED[÷Y[WYIHkGEH>dFB_HXTYH>BlHSTeTLmTY_He[L RDFKGEDa÷TKTYFDgHZYGhaDLKTYFlHSTLH\aDIEGIF^ý6ZTYKLTEFH\GYmDFIVWGfIHfDYHTIHe[HkTYXDEhTE_HXD]He[LHTYIFTEHUDaHXTYHOVWaTKTYHWT[VWaTYKIVWTY mYiXTYaKVWhTKFHefKIVWTEHXTEHXKkTYITEHOGf4TFköahTYEHeTYYK]H[EXHTKETHgDEeHDEXTYTHúKYhaKVWhTKFHe[FDgTHFYDFl N[VWHmGYKIH`TaeKEHFY[gHITKEHgTYiFFTaFHUD]HüTYDEFfGYF[EgHDEHXKTITLHmTKIZKTaaGITEHOFDDFI^O[KeKX_HXTLHIKVWHTKEHKXTGaGgKIVWHgT÷TIFKgFTI_HimTY TKEHKLLTYHEGVWH[EgTWT[YTIHÿGFTEFKDaHkTY÷igTEXTIHùLZTYK[LHD[IaKT÷TYFT_HDaIHTYHEDVWHN[IY[÷[EgHTKETYHY[IIKIVWTEHøöXTYDFKGEHXKTHIaDfKIVWTE OVWfTIFTYYTZ[maKhTEHjhYDKETH[EXHmTaDY[IHKEHTKEH`DgXIVWaG]HmTKHmYTIFHDEHXTYHZGaEKIVWTEH\YTEeTHTKEa[X_H[LHIKVWHLKFHKWETEHe[HTKETL gTIGEXTYFTEHOFDDFTEm[EXHe[IDLLTEe[IVWaKT]TElHýYIFHDaIHlTDhFKGEHD[÷HXKTITIHT[YGZûKIVWTHþ[IDLLTEYiVhTEHXTYHüöahTYHVWYKIFaKVW^GYFWGXG6TY QYDXKFKGEHWDmTEHIKVWHXDEEHD[VWH;HDaIH\TgTEIVWaDgHgTfKIITYLD]TEH;HXKTH[YIZYiEgaKVWHL[IaKLKIVWTEHQTKaYTZ[maKhTEHþTEFYDaDIKTEIH[EFTY NEaTKF[EgHKWYTYH4TfTKaKgTEHCWT÷IThYTFûYTHXTYHMÿXOjHKEHXTYHF[YhLTEKIVWTEHPD[ZFIFDXFHNIVWVWDmDXHgTFYG÷÷TEH[EXHTKETHýEFfKVha[EgHTKEgTaTKFTF_ XKTHDLHýEXTHKEH[ETKEgTIVWYûEhFTHOG[kTYûEKFûFHXKTITYHýLKYDFTH[EXHO[aFDEDFTHTKELiEXTFTl < UKFHefTKHNEgTWöYKgTEHXTYHXT[FIVWTEHmGFIVWD÷FHWDFFTHKVWHLKVWHDEHXKTITLHFYimTEHSTeTLmTYFDgH>ddbHKEHTKETYHITaFIDLTEHMDIVWTLLTHkTYDmYTXTF_ XKTHXTEHl[÷HT6GFKIVWTYHý6ha[IKkKFûFHgTEG]lHSTYHmTIKFeTYHGXTYHÿûVWFTY_HTKEHOGWEHXTYHNmY[eeTE_HmTYTKFTFTHLKFH÷KEIFTYTYHUKTETH[EgTEKT]mDYTHÿKeeDI [EXHR[XTagTYKVWFTHe[lHSTYHúTKE_HXTYHDEgTmaKVWHD[IHùFDaKTEHIFDLLFT_HIVWLTVhFTHID[TYlHSYD[]TEHfDYHTIHETmaKgH[EXHhDaFlHSKTHEDWTE \TmKYgIYKTITE_HXKTHIVWETTmTXTVhFTEHNaDFD[^\KZ÷TaH[EXHXKTHQKTE^OWDE^MTFFT_HXKTHmTYTKFIHXTEH:mTYgDEgHEDVWHCWKEDHkTYIZTYYF_HWDFFTEHIKVWHKE S[EIFHD[÷gTaöIFl þ[H[EITYTYHmTIVWTKXTETEHQD÷TaY[EXTHgTITaaFTHIKVWHTKEHûaFTYTYHüGahIXT[FIVWTY_HXTYHXTEHDEfTITEXTEHmTDLFTEHXTYHXT[FIVWTEHmGFIVWD÷F fGWamThDEEFHfDYlHùLH\TgTEIDFeHe[HITKETLHOGWEH[EXHITKETYHRKVWFT_HXKTHKWEHmTgaTKFTFTE_HIZYDVWHTYHEGVWHaTKXaKVWHXKTHDEgTIFDLLFT U[FFTYIZYDVWTlHOTKETHgDEeTHOKZZTHfDYHkGEHOFDaKEHKEIHDmgTaTgTETHQDXIVWKhKIFDEHkTYIVWaTZZFHfGYXTEPHDmTYHkGYHefTKHUGEDFTEHWDFFTHTYHXKTITHkGE miYgTYhYKTgIfKYYTEHWTKLgTI[VWFTHlTZ[maKh_HXKTHDEHN÷gWDEKIFDEH[EXHCWKEDHgYTEeF_H÷a[VWFDYFKgHkTYaDIITElH\Yû]aKVWTHSKEgTHIZKTaFTEHIKVWHKE S[IVWDEmT_HXTYHFDXIVWKhKIVWTEHPD[ZFIFDXF_HDm_HgDEeHe[HIVWfTKgTEHkGEHXTEHUDIIDhTYE_HXKTHKEHXTEHTEFaTgTETEHÿYGkKEeTEH[EFTYHN[IIVWa[] ÷YTLXTYHN[gTEeT[gTEHIFDFF÷DEXTElHOTamIFHKEHG÷÷KeKTaaTEHüTYaD[FmDY[EgTEHIZYDVWHLDEHmTYTKFIHkGEHDcHcccHQGFTElHùEHQDXIVWKhKIFDE_HfGHXKTHDaFTE MGLL[EKIFTE_H7M[aDmK8HgTEDEEF_HTKETEHN[IYGFF[EgI÷TaXe[gHgTgTEHSTLGhYDFTEH[EXHùIaDLKIFTEHLKFHY[IIKIVWTYHjEFTYIFiFe[EgHDEgTeTFFTaF WDFFTE_HITKTEHøGaFTY[EgTE_HüTYIFiLLTa[EgTEH[EXHüTYgTfDaFKg[EgTEHDEHXTYHQDgTIGYXE[Egl SKTHaTFeFTEHXGYFHaTmTEXTEHST[FIVWTEHITKTEH[EaûEgIFHe[Hø[]HEDVWHMDIDVWIFDEHgT÷aiVWFTF_HEDVWXTLHIKTHIKVWHfGVWTEaDEgHKEHMTaaTYEHkTYIFTVhF WKTaFTE_H[LHXTEHLGYXTEXTEHmDEXTEHXTYHUDY6KIFTEH[EXHXTYHKIaDLKIVWTEHø[EXDLTEFDaKIFTEHe[HTEFgTWTElHN[IHl[]aDEXH[EXHjImThKIFDEHITKTE \jO^QY[ZZTEHgTgTEHXKTH÷DEDFKIVWTHKIaDLKIVWTHN[÷IFDEXImTfTg[EgH7RDWXD8HTKEgTYiVhF_H[EXHP[EXTYFFD[ITEXTHU[ITaLDETEHITKTEHe[HKWYTE FDXIVWKhKIVWTEHmYiXTYEHEDVWHN÷gWDEKIFDEHgT÷aGWTElHøYiWTYHWDFFTHTKETHWDamTHUKaaKGEHý[YGZûTYHKEHQDXIVWKhKIFDEHgTaTmFlHNaIHTYIFTHITKTEHXKTH`[XTE_ XDEEHXKTHLTKIFTEHST[FIVWTEHDmgTfDEXTYFlH`TFeFHmT÷ûEXTEHIKVWHD[VWHXKTHl[IITEHD[÷HXTYHøa[VWFl úKTHYDITEXHIVWETaaHXKTHSKEgTHIKVWHXGVWHmTfTgTEQHùLHOTZFTLmTYH>dd>_HDaIGHTKEHY[EXTIH`DWYHe[kGY_HWDFFTHKVWHXKT jEDmWûEgKghTKFIZYGhaDLDFKGEHXTYHlTZ[maKhHQDXIVWKhKIFDEHDEH?YFH[EXHOFTaaTHTYaTmFlHSDLDaIHWDFFTHXKTHgYG]THOF[EXTHXTYHmûYFKgTEHùIaDLKIFTEH[EX XTYHKEFTaaThF[TaaTEH7STLGhYDFTE8HgTIVWaDgTElHSKTHOFDDFIgYiEX[EgHD[÷HXTLHTWTLDaKgTEH5TEKEZaDFeHkGYHXTYHSTZ[FKTYFTEhDLLTYHf[YXTHkGE ÷YGLLTEHMGYDE^lTeKFDFKGETEHmTgaTKFTFlHSTYHYTkGa[FKGEûYTHùIaDL_HIGHIVWKTEHTIHDEH4TETLHQDg_HXTEHKVWHDaIHýWYTEgDIFHD[÷HXTYHUDYLGYFYKmiET [EFTYHXTLHYKTIKgTEH5TEKE^STEhLDaHKELKFFTEHTK÷TYEXTYH7RDWXD8^ÿYTXKgTYHTYaTmFT_HWDFFTHimTYHXTEHgGFFaGITEHUDY6KIL[I^5TEKEKIL[IHgTIKTgFlH7STY MGLL[EKIFHKIFHTKEHøTKEXHNaaDWI8_HIFDEXHKEHDYDmKIVWTYHOZYDVWTHD[÷HXTEHQYDEIZDYTEFTElHNmTYHXTYHQYK[LZWHXTIHMGYDEHfDYHkGEHh[YeTYHSD[TYlHSKT DaFTHRGLTEhaDF[YD_HgTIFiFeFHD[÷HXKTHmTfûWYFTEHUDVWFIFY[hF[YTEHXTIHOGf4TFI9IFTLIH[EXHXTEH[EgTmYGVWTETEHNZZDYDFHXTIHM\m_HXKTHY[IIKIVWT UKaKFûYKEFTYkTEFKGEH[EXHXKTHXTEHÿDYFTK÷iWYTYEHTYgTmTETEHOFDLLTI÷YDhFKGETE_HWDFFTHXKTHPKEfTEX[EgHQDXIVWKhKIFDEIHe[YH7ùIaDLKIVWTEHlTZ[maKh8 EGVWHTKELDaHKLHma[FHTYIFKVhFl
SKTHúDYE[EgHOGaIVWTEKe9EI
STYHùIaDLHFDFHIKVWHG÷÷TEmDYHIVWfTYHKEHNaLDHNFDlHNaIHKVWHEDVWHXTYHøYTKFDgILGIVWTTH÷YDgFT_Hf[YXTHKVWHKLLTYHEGVWHD[÷HXDIHmTIVWTKXTET_ gYiEgTIFYKVWTETHPGaeWD[IHkTYfKTITE_HXDIHKEHDYDmKIVWTYHOVWYK÷FHXKTHMTEEeTKVWE[EgH7U[I4KXHNaLDHNFD8HFY[glHOTKFHLTKETLHN[÷TEFWDaFHKL OGLLTYH>dFcHWDFFTHIKVWHhD[LHTFfDIHgTûEXTYFlHSDLDaIHfDYHDaaTYXKEgIHLTKEHmTI[VWHmTKHXTLH4[EgTEHùLDL_HXTYHLKFH\TETWLKg[EgH[EX øöYXTY[EgHXTIHlTgKLTIHKEHSDLDIh[IHIF[XKTYFHWDFFT_HkGEHefTKHmTDLFTEHXTIHM\mHimTYfDVWFHfGYXTElHSKTHmTKXTEHUûEETYHXTIHOKVWTYWTKFIXKTEIFTI WDFFTEHKWYHN[FGHIGHD[÷÷ûaaKgHgTZDYhF_HXD]HKVWHTIHgDYHEKVWFHimTYITWTEHhGEEFTl ùLHùEETYEHXTIH\TmTFIYD[LIHIFKT]HKVWHXKTITIHUDaHD[÷HTKEHWDamTIHS[FeTEXHmûYFKgTYH4[EgTYHUûEETY_HXKTHXKTHYGF^fTK]HGXTYHIVWfDYefTK] gTIVWTVhFTH7MT÷÷K9TW8HFY[gTElHOKTHgDmTEHIKVWHDaIHZDaûIFKETEIKIVWTHOF[XTEFTEHe[HTYhTEETElHNaIH\ûIFTHKEHTKETLH÷YTLXTEH5DEXHfDYTEHIKTHe[ ZGaKFKIVWTYHþ[YiVhWDaF[EgHkTYZ÷aKVWFTFlHSTYHOZYTVWTYHXTYH\Y[ZZTHeTKgFTHLKYHTKEHET[HkTYaTgFTIHm[VWHKEHhDIDVWKIVWTYHOZYDVWTKH7NaaDWIHET[T mGFIVWD÷FHDEHXKTHúTaF8lHùVWHIGaaTHLKVWHX[YVWHXTEHQKFTaHEKVWFHKYYT÷iWYTEHaDIITElHSKTIHITKHTKETHDEFK÷[EXDLTEFDaKIFKIVWTHmYGIVWiYTl UKYHfDYHe[H?WYTEHgThGLLTE_HXD]HXKTHKIaDLKIFKIVWHgT÷ûYmFTH?ZZGIKFKGEHgTgTEHÿYûIKXTEFHRDIDYmD4TfHIKVWHKEHefTKHøYDhFKGETEHe[HGYgDEKIKTYTE I[VWFTlHSKTHTKETHWKT]H7NIDX8_HXDIHmTXT[FTFHøYTKWTKFlHSKTHDEXTYTHWDFFTHXTEHDaFTEHhDIDVWKIVWTEHOVWaDVWFY[÷H7NaDIW8HET[HmTaTmFlHmTKXTHfDYTE kTYmGFTElHSKTHKEHUGIhD[HgTXY[VhFTHþTKFIVWYK÷FHýaHPDRH;H7SKTHúDWYWTKF8H;HXKTHÿYDfXDHXTYHU[IaKLTHKEHXTYH\jO_HfKTHLDEHIVWTYeWD÷FHIDgFTH; f[YXTHKEHNaLDHNFDHYTgTaLû]KgHmTIVWaDgEDWLFl SKTHlTZ[maKhHMDIDVWIFDEHkTY÷igFTHe[H4TETYHþTKFHimTYHTKEHmTLTYhTEIfTYFTIH7ùEIFKF[FH÷iYHIFYDFTgKIVWTHOF[XKTE8lHþ[HLTKETYH:mTYYDIVW[EgHIFKT] KVWHKEHXTLHIVWL[VhaGITEHOKFe[EgIIDDaHD[÷HD[IIVWaKT]aKVWHhDIDVWKIVWTH\TIZYûVWIZDYFETYlHNEHXTYHúDEXHWKEgHTKEHÿGYFYûFHR[YI[aFDEHRDIDYmD4TfIl ùVWHfDYHkGEHXTLHKEFTaaThF[TaaTEHRKkTD[HXTYHl[EXTHmTTKEXY[VhFlHSTYHG÷÷KeKTaaTHCWT÷HXTYHOF[XKTEgY[ZZTHfDYHTKEHgTfKIITYHSYlHMDITEGf_HXTYHXKT \TIZYûVWI÷iWY[EgHTKETLHWGVWgTfDVWITETE_HTFfDH÷iE÷eKg4ûWYKgTEHNhDXTLKhTY_HÿYG÷TIIGYHO[aFDEGf_HimTYaKT]lHO[aFDEGfHXYiVhFTHIKVWHKE ZTY÷ThFTLHST[FIVWHD[Il úKYHWDmTEH[EIH[EgT÷ûWYHXYTKHOF[EXTEHaDEgHLKFHgYG]TYHjEmT÷DEgTEWTKFH[EFTYWDaFTElHMDIDVWIFDEHITKHIKVWHITKETYHfKVWFKgTEHgTGZGaKFKIVWTE ÿGIKFKGEHkGaaHmTf[]F_HIGHTY÷[WYHKVWlHNmTYHÿYûIKXTEFHRDIDYmD4TfHfDVWTHXDYimTY_HXD]HTIHe[HhTKETYHMGE÷YGEFDFKGEHLKFHXTEHl[IITEHhGLLTlHPKTY mTIFûEXTEHIGHkKTaTHGYgDEKIVWTHmDEXT_HXD]HIKVWHTKEHZaöFeaKVWTYHmY[VWHû[]TYIFHEDVWFTKaKgHD[IfKYhTEHfiYXTlHøDIFH4TXTYHMDIDVWTHITKHXTYHY[IIKIVWTE OZYDVWTHLûVWFKglHSKTHLDIIKkTHIGf4TFKIVWTHýKE÷a[]EDWLT_HXKTHKLHliVhmaKVhHD[VWHX[YVWD[IHZGIKFKkTHNIZThFTHD[÷fTKIT_HITKHIVWaKT]aKVWHTKETY TKEgTmGYTETEHùEFTaaThF[TaaTE^ýaKFTHe[g[FTHgThGLLTEl STYHOFDDFIVWT÷HkTYfTKgTYTHIKVWHITKFHXTYHjEDmWûEgKghTKFH4TXTYHZGaKFKIVWTEHGXTYHKXTGaGgKIVWTEHøTIFaTg[EglHlTaKgKöITHÿDYFTKTEH;HGmHIKTHE[EHKE L[IaKLKIVWTLHGXTYHKEHVWYKIFaKVWTLH\TfDEXHD[÷FYTFTEH;HfiYXTEHEKVWFHD[FGYKIKTYFlHRDFiYaKVWHITKHXKTHlTgKTY[EgHkGEHNaLDHNFDHDEHTKETYHTEgTE þ[IDLLTEDYmTKFHLKFHXTEHimYKgTEH\jO^lTZ[maKhTEHþTEFYDaDIKTEIHIFDYhHKEFTYTIIKTYFlH:mTYWD[ZFHhTKETHÿYGmaTLTHgTmTHTIHLKFHXTEHTEgHkTYfDEXFTE MKYgKITEl mKIHKEIHIZûFTHET[EeTWEFTH`DWYW[EXTYFHfDYTEHXKTHhKYgKIKIVWTEH[EXHhDIDVWKIVWTEHRGLDXTEHEKVWFHe[H[EFTYIVWTKXTElHþ[LHùIaDLHWDFFTEHIKVW XKTITHPKYFTEköahTYHFTKafTKITHTYIFHkGYHefTKW[EXTYFH`DWYTEH[EFTYHXTLHýKE÷a[]He[gTfDEXTYFTYHúGagD^QDFDYTEHmThTWYF_HXKTHTKETYHhGYDEKIVWTE ýYET[TY[Eg_HXTLH7`DXKXKIL[I8_He[ETKgFTElHSGVWHXKTHIVWDLDEKIFKIVWTEHmYû[VWTHmaKTmTEHaTmTEXKglHüGEHTKETYHKIaDLKIVWTEHúKTXTYgTm[YFHhöEET E[YHKEH4TETEHIiXaKVWTEHlTgKGETEHgTIZYGVWTEHfTYXTE_HXKTHmTYTKFIHEDVWHjImThKIFDEHimTYaTKFTElHmTKHDaaTYHYTaKgKöITEHQGaTYDEeHITKHTIHmKIWTY gTa[EgTE_HXTEHIGgTEDEEFTEHø[EXDLTEFDaKIL[IHKEHTEgTEH\YTEeTEHe[HWDaFTElHSDIHmTKIZKTaHXTYHTEFITFeaKVWTEHúKYYTEHKEHQDXIVWKhKIFDEHWDmTHfGWa DmIVWYTVhTEXHgTfKYhFl MDIDVWIFDEHgTYûFH[EfTKgTYaKVWHKEHXTEHOGgHITKETIHgKgDEFKIVWTEHRDVWmDYEHKLH?IFTElH`TEITKFIHXTYHQKTE^OWDE^MTFFTHmTgKEEFHXDIHVWKETIKIVWT \YG]YTKVWlHR[YI[aFDEHRDIDYmD4TfHWDFHIKVWHgTgTEimTYHÿThKEgHD[÷Hha[gTIH5DkKTYTEHkTYaTgFlHSKTHýKITEmDWEIFYTVhTHEDVWHjY[LRK_HXTYHPD[ZFIFDXF XTYHN[FGEGLTEHlTgKGEHGKE4KDEg_HKIFHkGaaTEXTFlHOTKFXTLHIFYöLTEHOVWDYTEHVWKETIKIVWTYHPûEXaTYHEDVWH?IF^[EXHOiXhDIDVWIFDElHOKT imTYIVWfTLLTEHXKTHUûYhFTHLKFHKWYTEHmKaaKgTE_HDmTYHX[YVWD[IHmYD[VWmDYTEHMGEI[LfDYTElHùEHTKETYHTYIFTEHÿWDITHWDEXTaFHTIHIKVWHmTKHXKTITE ùLZGYFTEH[LHQWTYLGI÷aDIVWTE_HgT÷iFFTYFTH`DVhTE_HQT6FKaKTEHDaaTYHNYFH[EXHPD[IWDaFIgTYûFTl SKTHmTWöYXTEHkGEHNaLDHNFDHWiFTEHIKVWHXDkGY_HKYgTEXfTaVWTHZDEF[YDEKIVWTEHøGYXTY[EgTEHKLHPKEmaKVhHD[÷HXKTHL[IaKLKIVWTEHQ[Yh^üöahTYHKL mTEDVWmDYFTEHGKE4KDEgHD[÷hGLLTEHe[HaDIITElHSKTHXGYFKgTEHjKg[YTEHLiIITEHmTKHKWYTYHmTLiW[EgH[LHh[aF[YTaaTHOTamIFmTWD[ZF[EgHgTgTEimTY XTYHUDIITHe[gTfDEXTYFTYHPDE^CWKETITEHLKFHgYö]FTYHþ[YiVhWDaF[EgHXTYHmTWöYXTEHkGEHNaLDHNFDHYTVWETElHRDIDYmD4TfHKIFHTKEH[LIKVWFKgTY ÿGaKFKhTYlHSTYHÿYûIKXTEFHmTLiWFHIKVWHXDY[L_HXKTHKEHGKE4KDEgHaTmTEXTEHMDIDVWTEHe[YH:mTYIKTXa[EgHKEHITKETH[EDmWûEgKgTHlTZ[maKhHe[HmTfTgTEl OGgDYHXKTHhDIDVWKIVWTEHRGLDXTE_HXKTHKLHû[]TYIFTEHRGYXfTIFmTeKYhHXTYHUGEgGaKIVWTEHlTZ[maKhHXKTHUTWYWTKFHXTYHmTköahTY[EgHmKaXTE_HIGaaTE ;HLKFHþ[IFKLL[EgHXTYHlTgKTY[EgHkGEHjaDEHmDFGYH;HEDVWHMDIDVWIFDEHDmfDEXTYElH\DEeHTKEXT[FKgHgTWFHTIHRDIDYmD4TfHXDY[L_HXTEHNEFTKaHXTY D[FGVWFWGETEHmiYgTYHITKETYHlTZ[maKhHgTgTEimTYHXTEHKLLKgYKTYFTEHl[IITE_HjhYDKETYEH[EXHST[FIVWTEHhGEITR[TEFHe[HkTYLTWYTEl ùVWHIZYDVWHO[aFDEGfHD[÷HgTfKIITHOZTh[aDFKGETEHDE_HXTETEHe[÷GagTHTKETHN[÷FTKa[EgHITKETYHlTZ[maKhHKEIHN[gTHgT÷D]FHITKKHSTYHIaDfKIKTYFT RGYXTEHIGaaTHXTYHl[IIKIVWTEHøöXTYDFKGEHe[÷DaaTEH[EXHXTYHimTYfKTgTEXHFiYhKIVWTHOiXTEHXDIHTKgTEFaKVWTHMDIDVWIFDEHmKaXTElHSKTHY[IIKIVWTE UKaKFûYI_HDEHKWYTYHOZKFeTHXTYHIZûFTYTHÿYûIKXTEFIVWD÷FIhDEXKXDFHNaT6DEXTYH5TmTX_HXTEHKVWHh[YeHXDYD[÷HKEHQKYDIZGaHDLHSE4TIFYHFYT÷÷TEHIGaaFT_ ÷GYXTYEHXDIHLKFHRDVWXY[Vh_H[EXHkGYHDaaTL_HXD]HUGIhD[HD[VWH4TETHYTKVWTEHýYXöa^H[EXHýYXgDIYTITYkTEHDEEThFKTYTEHIGaaT_HXTYTE úiIFTEaDEXIVWD÷FHDLH?IFYDEXHXTIHMDIZKIVWTEHUTTYTIHhD[LHmTköahTYFHKIFlHOVWaKT]aKVWHITKTEHXKTH\YTEeTEHXTYHOGf4TFYTZ[maKhHMDIDVWIFDEHköaaKg fKaahiYaKVWHX[YVWHXDIHUGIhD[TYHÿGaKFmiYGHTEFfGY÷TEHfGYXTEH[EXHhöEEFTEHX[YVWHTKETEHjhDIHXTIHMYTLaHD[VWHfKTXTYHkTYIVWGmTEHfTYXTEl @WEaKVWHWDFFTH4DHRKhKFDHCWY[IVWFIVWGfHXKTHNEET6KGEHXTYHMYKLHX[YVWHXKTHjhYDKETHkTY÷igFlHSKTHOKF[DFKGEHKEHþTEFYDaDIKTEH[EFTYIVWKTXHIKVWHKE XKTITYHPKEIKVWFHkGEHXTEHmTKXTEHlTZ[maKhTEHjhYDKETH[EXHmTaDY[I_HXKTHKLLTYWKEHG÷÷KeKTaaHKEHXTYHüGaakTYIDLLa[EgHXTYHüTYTKEFTEHRDFKGETE kTYFYTFTEHfDYTElHN[VWHXTYHmTYiWLFTHOVWYK÷FIFTaaTYHNaT6DEXTYHOGaIVWTEKe9E_HkGEHXTLHPTEY9HMKIIKEgTYHmTWD[ZFTF_HITKETHZGaKFKIVWTHÿGIKFKGE IKF[KTYTHIKVWHTFfDHYTVWFIHkGLHþDYTE_HWDFFTHIKVWHD[÷HgaTKVWTHúTKITHe[H\[EIFTEHTKETYH7ODLLa[EgHY[IIKIVWTYHýYXT8HgTû[]TYFl mTKHýYfûWE[EgHXKTITIHQWTLDIHTYWKFeFTHIKVWHe[LHTYIFTEHUDaHXKTHSKIh[IIKGEIY[EXTHKLHùEIFKF[FH÷iYHIFYDFTgKIVWTHOF[XKTElHýKETHIGaVWT 7ZDYFKFKGE8_HIGHaD[FTFTHXKTHTKEWTaaKgTHUTKE[Eg_HITKH[ETYFYûgaKVWlHOKTHfTYXTHe[LHG÷÷TETEHMGE÷aKhFH÷iWYTElHSDHLiIITHUGIhD[HIKVWHXDYD[÷ TKEIFTaaTE_HLKFHTKETYHma[FTEXTEHúTWYgYTEeTHe[HaTmTE_HXKTHIKVWHR[TYHX[YVWHXKTHDIKDFKIVWTHOFTZZTHeögTl ýKETYHXTYHQTKaETWLTYHgKEgHIGHfTKF_HTKETHG÷÷TETHSYGW[EgHD[Ie[IZYTVWTElHøDaaIHIKTHfKYhaKVWHT6ZDEIKGEKIFKIVWTHþKTaTHKEHMDIDVWIFDEHDEkKIKTYFTE_ XDEEHIGaaFTEHIKVWHXKTHl[IITEHXTYHþTKFHXTIHùfDEHMDaKFDHTEFIKEETElHSDIHfDYHTKEHLDIIKkTIH\TIVWiFelHSTYHY[IIKIVWTH\YG]÷iYIFHùfDEHMDaKFD_He[ XT[FIVWH7ùfDEHXTYH\TaXIDVh8_HKIFHDaIHXTYHfKaa÷ûWYKgIFT_HkTYûVWFaKVWIFTHüDIDaaHXTYH\GaXTETEHPGYXTHKEHXKTH\TIVWKVWFTHTKEgTgDEgTElHýYHWDFFTHXKT
QYKm[FaTKIF[EgTEHDEHXTEHFDFDYKIVWTEH\YG]^MWDEHD[÷HMGIFTEHITKETIHTKgTETEHüGahTIHLKFHT6FYTLTYHPûYFTHTKEgTFYKTmTEH[EXHIKVWHITamIFHXDmTK IVWDLaGIHmTYTKVWTYFl ÿaöFeaKVWHfDYHKEHXTLHEiVWFTYETEHMGE÷TYTEeIDDaHkGEHNaLDHNFDH[EFTYHXTYHmaD[TEHøDWETHXTIHSIVWKEgKIHMWDEHXKTHýYKEETY[EgHDEHXDIHaDEgT QDFDYTE^`GVW_HXDIH[ED[IaöIVWaKVWTHWKIFGYKIVWTHQYD[LDHXTYHl[IITE_HfKTXTYHD[÷gTaTmFlH\TETYDaH5TmTXHWDFHXDIHKEHTKETLH\TIZYûVW_HXDIHfKYHIZûFTY KEHOfTYXaGfIh_HXDIHWT[FTHfKTXTYH`ThDFTYKEm[YgHWTK]F_H÷iWYFTE_HIFDYhHYTaDFKkKTYFlHSTYHWGVWXThGYKTYFTHüTFTYDEHXTIHN÷gWDEKIFDEhYKTgTIHWDFFT mTgYK÷÷TE_HXD]HTIH÷iYHUGIhD[HD[÷HSD[TYHhTKETEHOKEEHLDVWFT_HTKETHGYgDEKIVWTHjEKGEHLKFHXTEHimTYfKTgTEXHKIaDLKIVWTEHRDVW÷GagTYTZ[maKhTEHXTY OGf4TF[EKGEHe[HI[VWTEHGXTYHIKTHLKFH\TfDaFHe[HTYefKEgTElH7ùVWHWDmTHDLHPKEX[h[IVWHLTKETHITWYHZTYIöEaKVWTEHýY÷DWY[EgTEHLKFHXTE ÷DEDFKIVWTEHMYKTgTYEHXTIHùIaDLHgTLDVWF_HLKFHKWYTYHQGXTIkTYDVWF[EgH[EXHTKETYHYTaKgKöIHLGFKkKTYFTEHmTYTKFIVWD÷FHe[YHOTamIFD[÷GZ÷TY[Eg8_H÷iWYFT TYHD[IlH7ùEHXTYTEHM[aF[YhYTKIHWDmTEHfKYHEKVWFIHe[HgTfKEETElHRKVWFHTKELDaHmTKHXTEHQIVWTFIVWTETE_HXKTHKVWHZTYIöEaKVWHWGVWDVWFT_HEDVWXTLHTKET NEeDWaHkGEHKWETEH[EFTYHLKYHgTXKTEFH[EXHIKVWHkGYeigaKVWHmTfûWYFHWDF_HWûFFTEHfKYHTKETHXD[TYWD÷FTHCWDEVTl8 N[÷HLTKETHWDYFEûVhKgTEHøYDgTEHEDVWHXTYHúKTXTYgTm[YFHXTIHùIaDLHTYWKTaFHKVWHYTVWFH[EmT÷YKTXKgTEXTHNEFfGYFTElHO[aFDEGfHTYFTKaFTHTKETYHETFFTE 4[EgTEHýFWEGaGgKE_HTKETYHYTKEmaiFKgTEHMDIDVWKE_HXDIHúGYFlHOKTHkTYfKTIHXDYD[÷_HXD]HXKTHmGFIVWD÷FHXTIHMGYDEHmTKHXTEHhDIDVWKIVWTEHRGLDXTEH; KLH\TgTEIDFeHe[HjImThKIFDEH[EXHQDXIVWKhKIFDEH;HE[YHYTVWFHGmTY÷aûVWaKVWHø[]HgT÷D]FHWDmTlHýIHT6KIFKTYFTEHgTfK]HTKEHZDDYHO[÷K^?YXTE_HXTYTE lTaKgKGIKFûFH4TXGVWHkGEHIVWDLDEKIVWTEHmYû[VWTEHX[YVWXY[EgTEHITKlHSTYHNWETEh[aFHWKEgTgTEHmaTKmTHaTmTEXKglHUDEHIGaaTHIKVWHDEXTYTYITKFIHX[YVW XKTHgTYKEgTHNEeDWaHkGEHUGIVWTTEHEKVWFHKYYT÷iWYTEHaDIITElHþ[YHþTKFHXTYH\GFFaGITE^MDLZDgETEHITKTEHXKTHimaKVWTEHQTTIF[mTE_HXKT 7QIVWThWDEDI8_HG÷FHDaIH\TmTFIYû[LTHmTE[FeFHfGYXTElHSKTHÿYGmaTLDFKhHTKETYHKIaDLKIVWTEHlTkGa[FKGEHITKHWKEgTgTEHKLHmTEDVWmDYFTEHjImThKIFDE ;HXGYFHmTIGEXTYIHKLHøTYgDED^mTVhTEH;HXT[FaKVWHe[HIZiYTElHùEHMDIDVWIFDEHWDEXTaTHTIHIKVWHDaaTE÷DaaIH[LHTKEHLDYgKEDaTIHÿYGmaTLl NLH÷GagTEXTEHQDgHmTgaTKFTFTHKVWHO[aFDEGfHe[HTKETLHIZTeKTaaTEHþTEFY[LH÷iYHùIaDLKIFKhlHúKTXTYHID]HLKYHTKETHøYD[HgTgTEimTY_HTKETHYTKeaGIT_ IVWiVWFTYETHMDIDVWKEH÷GYFgTIVWYKFFTETEHNaFTYI_HXKTHLKYHTKETEHhGE÷[ITEHüGYFYDgHimTYHXKTH:mTYfKEX[EgHXTIH?mIh[YDEFKIL[IH[EXHXTIHYTaKgKöITE NmTYgaD[mTEIHWKTaFlHùLHQGEHTKETIHNgKFZYGZIHfDYEFTHIKTHkGYHXTLHPGVWhGLLTEHXTIHøDEDFKIL[IlHNaIHKVWHIKTHEDVWHXTYHkGYWTYYIVWTEXTE KIaDLKIVWTEHlTVWFIIVW[aTHKEHMDIDVWIFDEH÷YDgFTH;HKVWHf[]FTHITWYHfGWa_HXD]HXKTHI[EEKFKIVWTEHU[ITaLDETEHþTEFYDaDIKTEIHXTLHWDET÷KFKIVWTE 7UDXWWDm8HDEWKEgTEH;_HkTYIDgFTEHKWYTHmTIVWTKXTETEHMTEEFEKIITlHùVWHkTYfKTIHO[aFDEGfHmTKLHNmIVWKTXHD[÷HXKTHjEe[aûEgaKVWhTKFHXKTITY 7?YKTEFDaKIFKE8lHSDHaDVWFTHTYHIVWDaaTEXlH7OKTHIGaaFTEHIKVWHXDYimTYHEKVWFHf[EXTYE8_HLTKEFTHTYlH7üGYHTKEHZDDYH`DWYTEHfDYHXKTITH\TEGIIKEHEGVW ÿYG÷TIIGYKEH÷iYHDFWTKIFKIVWTHùXTGaGgKTH[EXH÷iYH\GFFaGITE^ÿYGZDgDEXDl8
7STLGhYDFKTHKIFH?YXE[Eg8 NaLDF9_HKLHSTeTLmTYH>ddb N[XKTEeHmTKLH\YG]^MWDElHSDIHNYmTKFIeKLLTYHKLHúTK]TEHÿDaDIFHfDYHe[LHMGE÷TYTEeYD[LHD[IgTfTKFTFHfGYXTElHSKTHIVWfTYTEHÿaiIVWLömTa TEFIZYDVWTEHXTLHimTYaKT÷TYFTEH\TIVWLDVhHXTYHYGFTEHø[EhFKGEûYTlHRTmTEHXTLHOVWYTKmFKIVWHfDYHXKTHmaD[THUGEgGaTE÷DWETHXTYHMDIDVWTE D[÷gTIFTaaFlHþfTKH\TFYTKXTûWYTEHIGaaFTEHXTEHhYKTgTYKIVWTEHCWDYDhFTYHXKTITIHøDEDaIHTFfDIHkTYWDYLaGITElHSTYHÿYûIKXTEFHFY[gHTKETE g[FgTIVWEKFFTETEHX[EhTamaD[TEHmaDeTYHLKFH\GaXhEöZ÷TElHSDIHmYTKFTHDIKDFKIVWTH\TIKVWFHfDYHkGEHTKEXY[VhIkGaaTYHjEmTfTgaKVWhTKF_HIFYDWaFT \TaDIITEWTKFH[EXHMYD÷FHD[IlHSKTHDEgTmGYTETHjEX[YVWXYKEgaKVWhTKFHL[]FTHKWLHmTKHIVWfKTYKgTEHüTYWDEXa[EgTEHe[g[FTHhGLLTElHùLHúTIFTE WûFFTHLDEHKWEHDaIH7ÿGhTY÷DVT8HmTeTKVWETFl SKTHIFDDFILûEEKIVWTHNaaiYTHXTIHTWTLDaKgTEHùEgTEKT[YIHfKYhFTHmTTKEXY[VhTEX_H[EXHFYGFeH4DWYTaDEgTYHhGLL[EKIFKIVWTYHMDXTYIVW[a[EgHfDYHXKT jYI[mIFDEeHXTIHhDIDVWKIVWTEHCaDE^H[EXHPGYXTEVWT÷IHKEFDhFHgTmaKTmTElHNEHLDEVWTEHITKETYHIaDfKIVWTEHCG[EFTYZDYFIHgTLTIITE_HfKYhFTHXDI OFDDFIGmTYWD[ZFHkGEHMDIDVWIFDEHIFGaeH[EXHmTKEDWTHDYKIFGhYDFKIVWlHSKTHMGEFYGaaTEHDLHýKEgDEgHfDYTEHYTaDFKkHGmTY÷aûVWaKVWHgTfTITElHRTmTE hDIDVWKIVWTEHOKVWTYWTKFImTDLFTEHKEHþKkKaH÷KTaTEHLKYHKEHXTEHkTYIVWKTXTETEHmiYGIHD[VWHY[IIKIVWTHUKFDYmTKFTYHD[÷lHùEHXTYHNYLTTHfDYTEHXKT ?÷÷KeKTYTHXTYHTWTLDaKgTEHOGf4TF[EKGEHIaDfKIVWTEHjYIZY[EgIHGWETWKEHIFDYhHkTYFYTFTElHSDe[HhDLHTKETHlTKWTHkGEHOZTeKDaKIFTE_HXKTHKEHùIYDTa DEgTfGYmTEHfGYXTEHfDYTEl RDIDYmD4TfHI[VWFTHEKVWFHEDVWHN[I÷aiVWFTE_HDaIHKVWHKWEHD[÷HITKETHOZDgDFIFTaa[EgHDEIZYDVWHefKIVWTEHXTYHKEHEDFKGEDaTH\ûY[EgHgTYDFTETE hDIDVWKIVWTEHjYmTköahTY[EgHD[÷HXTYHTKETE_HXTYHLDIIKkTEHY[IIKIVWTEHMGaGEKIFTEZYûITEeHD[÷HXTYHDEXTYTEHOTKFTlHMDIDVWIFDE_HXDIHEKVWFHmTYTKFHfDY_ D[÷HTKETEHþKZ÷TaHITKETIHKLLTEITEHQTYYKFGYK[LIHe[HkTYeKVWFTE_HgDmHIKVWHgTgTEimTYHUGIhD[HimTYD[IHhGEeKaKDEFlHSTYHOFDDFIVWT÷HaKT]H4TXGVWHhTKETE þfTK÷TaHD[÷hGLLTE_HXD]HTYHPTYYHKLHTKgTETEHPD[IHITKEHfGaaTlHSDIHXDLDaIHEGVWHeTYIZaKFFTYFTHÿDYFTKTEI9IFTLHf[YXTHE[YHKEHXTLHjL÷DEg gTX[aXTF_HfKTHTIHITKETYHD[÷gThaûYFTEHSTIZGFKTHhTKETEHNmmY[VWHFDFl RDFiYaKVWHmThDEEFTHTYHIKVWHe[LHùIaDLlH7úKYHIKEXH÷YGLLTHU[IaKLT8_HmTFGEFTHXTYHNaFhGLL[EKIF_H7DmTYHfKYHaDIITEHhTKETHYTaKgKöITEHÿDYFTKTE mTKH[EIHe[_HfTXTYHKIaDLKIVWTHEGVWHVWYKIFaKVWTlHúKYHIKEXHD[VWHUKFgaKTXTYHXTYHgYG]TEHFiYhKIVWTEHüöahTY÷DLKaKT_HXGVWHTKETYHZDEF[YDEKIVWTE mTfTg[Eg_HXKTHD[IHNEhDYDHgTIFT[TYFHfiYXT_HfGaaTEHfKYH[EIHEKVWFHDEIVWaKT]TEl8HMDIDVWIFDEHITKHEDVWHDaaTEHOTKFTEH÷iYHfKYFIVWD÷FaKVWT þ[IDLLTEDYmTKFHG÷÷TElHNLTYKhDETY_Hý[YGZûTYH[EXH?IFDIKDFTEHITKTEHmTKHXTYHOVWD÷÷[EgHET[TYHùEX[IFYKT[EFTYETWLTE_HXTYH\YiEX[EgHkGEH`GKEF üTEF[YTI_HmTKHXTYHPTm[EgHXTYHmGXTEIVWûFeTHWGVWfKaahGLLTEl 7NmTYH[EITYH5DEXHfKYXHIKVWHEKVWFHKEHTKETHmTIFKLLFTHlKVWF[EgHXYûEgTEHaDIITE8_HTYhaûYFTHTYlH7OGHaTWETEHfKYH4TXTEHüTYI[VWHúDIWKEgFGEIHDm_ [EIHKEHTKETHøYGEFHgTgTEHXKTHùIaDLKIVWTHlTZ[maKhHùYDEHTKEYTKWTEHe[HaDIITElHÿTYIKTEHKIFH÷iYH[EIHTKEH[ETEFmTWYaKVWTIHgTGgYDZWKIVWTIHmKEXTgaKTXl8 úDIHE[EHXKTHmTIGEXTYTEHmTeKTW[EgTEHe[HUGIhD[HmTFYû÷T_HIGHITKTEHl[]aDEXH[EXHMDIDVWIFDEHE[EHTKELDaHXDe[HkTY[YFTKaF_HD[÷HDmITWmDYTHþTKFHfKT IKDLTIKIVWTHþfKaaKEgTHLKFTKEDEXTYHe[HaTmTE_HIGHmTTEXTFTHRDIDYmD4TfHXDIH\TIZYûVWl þfTKHQDgTHIZûFTYHWDmTHKVWHXTEHÿYûIKXTEFTEHDLHRDFKGEDa÷TKTYFDgHfKTXTYgTITWTElHSKTITIHUDaH[EEDWmDYH[EXH÷YTLXlHMGYXGEIHkGEHUKaKeKGEûYTE [EXHPKa÷IZGaKeKIFTE_HXKTHDEHYGFTEHNYLmKEXTEHe[HTYhTEETEHfDYTE_HIVWKYLFTEHXTEHþ[gDEgHe[HXTYHUDYLGYFYKmiETHDm_HD[÷HXTYHXKTHlTZYûITEFDEFTE XTYH4[EgTEHlTZ[maKhHIKVWHKEHlTKWH[EXH\aKTXHKEHIFYTEgHWKTYDYVWKIVWTYH?YXE[EgHD[÷gTIFTaaFHWDFFTElHSKTHOeTETHfDYHTKETHgTFYT[THMGZKTHXTI þTYTLGEKTaaIHDLHlGFTEHÿaDFeHkGEHUGIhD[l SKVWFTHRTmTaIVWfDXTEHWDFFTEHIKVWHD[÷HNaLDF9HgTITEhFlHSKTHMGEF[YTEHXTIHlTgKTY[EgIZDaDIFTIHfDYTEHhD[LHe[HTYhTEETElHSKTHMûaFTHeGgHKEHXKT \aKTXTYlHSTIWDamHhDLHD[VWHhTKETHüGahI÷TIF^NFLGIZWûYTHD[÷HFYGFeHXTYHhEDaam[EFTEHúDYLa[÷FmDaaGEI_HXKTHDLHlDEXTHXTIHÿDYDXTZaDFeTIHkTYFû[F
fDYTElHlKEgI[LHfDYTEHøKae4[YFTEHKLHDaFTEHRGLDXTEIFKaHTYYKVWFTFlHOKTHXKTEFTEHDaIHüTYhD[÷IIFûEXTH÷iYHOVWDIVWaKhH[EXHOF[FTELKaVWlHSDETmTE mYDEEFTEH5DgTY÷T[TYlHýKETHUKaKFûYhDZTaaTHIZKTaFTHY[IIKIVWTH[EXHT6GFKIVWHhaKEgTEXTHFiYhKIVWTHUûYIVWTlHþfKIVWTEX[YVWHIFKLLFTEHCWöYTH;HKE ÷DYmTEZYûVWFKgTHRGLDXTEFYDVWFHgThaTKXTFH;H5KTXTYHXTYHkTYIVWKTXTETEHýFWEKTEHXKTITYHlTZ[maKhHDElHSDIHDmgTfTFeFTHúGYFH7SY[IVWmD8H; øYT[EXIVWD÷FH;HfDYHD[÷HXKTHQYDEIZDYTEFTHgTZKEITaFl PKYFTEHXTYH[LaKTgTEXTEHMGaVWGITEHfDYTEHLKFHm[IITEHWTYDEgThDYYFHfGYXTElHUKFHKWYTEHLGEgGaKIVWTEH\TIKVWFTYE_HXKTHkTYfTgTE_H4DHgTYDXTe[ ÷[YVWFTYYTgTEXHfKYhFTE_HfKTITEHIKVWHXKTHUûEETYHDaIHD[FWTEFKIVWTHRDVWhGLLTEH4TETYHUGEgGaTEhYKTgTYHD[I_HXKTHTKEIFHmTKH5KTgEKFeHXKT lKFFTYDYLTTHXTIHPTKaKgTEHlöLKIVWTEHlTKVWTIHmTIKTgFHWDFFTElHN[IHXTEHNEIZYDVWTE_HXKTHkGEHXTYHPöWTHXTYHýWYTEFYKmiETHX[YVWHXTEHTKIKgTEHS[EIF WDaaFTE_HhaDEgHITaFIDLTYfTKITHEKVWFHXKTHaTKITIFTHNEIZKTa[EgHD[÷HXKTHýEFIFTW[EgH[EXHXKTHmTXT[F[EgHXKTITIHRDFKGEDa÷TKTYFDgTIHDE_HTKEHKLLTYWKE WKIFGYKIVWTIHýYTKgEKI_HXDIHmTYTKFIHkGEHXTEHCWYGEKIFTEHDaIHI9LmGaKIVWTYHúTEXTZ[EhFHXTYHIGf4TFKIVWTEHRDFKGEDaKFûFTEZGaKFKhH[EXHKWYTI [ED[÷WDaFIDLTEHRKTXTYgDEgIHgTfTYFTFHfKYXlHüGEHXTEH4[EgTEHhDIDVWKIVWTEHUûYF9YTYEHXTIH`DWYTIH>dFBHfDYHimTYWD[ZFHEKVWFHXKTHlTXTlHOFDFF XTIITEHZYKTITEHDaaTHXKTHYTDaHT6KIFKTYTEXTHPDYLGEKTHXTYHlDIITEH[EXHlTaKgKGETEl ýKEHETYköITYH4[EgTYHUDEE_HXTIITEH\TIKVWFHX[YVWHXKTHIVWfTYTHúGa÷IIVWDZhDHWDamHkTYXTVhFHfDY_HFTKaFTHLKYHLKF_HXD]HLTKEHkTYFYD[aKVW kTYTKEmDYFTIHQYT÷÷TEHLKFHNEWûEgTYEHXTYHKIaDLKIFKIVWTEH7NaDIW8^mTfTg[EgHEKVWFHIFDFF÷KEXTEHhöEETlH7ùWYTH\TIZYûVWIZDYFETYHkGEHXTE ?ZZGIKFKGEIZDYFTKTE8_HF[IVWTaFTHTYHLKYHe[_H7mT÷KEXTEHIKVWHEGVWHKLH\T÷ûEgEKIH[EXHIKEXH;HTEFgTgTEH÷YiWTYTEHþ[IKVWTY[EgTEH;He[LHXKTI4ûWYKgTE RDFKGEDa÷TKTYFDgHEKVWFH÷YTKgTgTmTEHfGYXTElH5DIITEHOKTHIKVWHX[YVWHXKTITIHøTIFHXTYHhYDLZ÷WD÷FHeTaTmYKTYFTEHýKEFYDVWFHEKVWFHFû[IVWTE8_H÷[WYHTY ÷GYFl QDFIûVWaKVWHWDFFTHR[YI[aFDEHRDIDYmD4TfHXKTHIFDDFIgYiEXTYKIVWTHSTkKITHD[IgTgTmTEKH7STLGhYDFKTHKIFH?YXE[Egl8HmTKHIGaVWTEHZDFYKGFKIVWTE üTYDEIFDaF[EgTEHXYûEgFHIKVWHXKTHøYDgTHD[÷_HGmHKEHXKTITEHT6GFKIVWTEHlTgKGETEHXTYHúTaFHXTYHD[÷gThaûYFTHSTIZGFKIL[IHXTYHkGEHXTEHNLTYKhDETYE IFTFIHfKTXTYWGaFTEHøGYXTY[EgHEDVWH7RDFKGEHm[KaXKEg8HEKVWFHmTIITYHTEFIZYKVWFHDaIHXKTHüGYIZKTgTa[EgHTKETIHüKTaZDYFTKTEI9IFTLI_HXTIITE úDWaTYgTmEKIITHGWETWKEHIVWDLaGIHgT÷ûaIVWFHfiYXTEl
SKTH?aKgDYVWTEHXTIH7lDWDF^ÿDaDVT8 NaLDF9_HKLHPTYmIFH>ddD OTKFHXTLHXTEhfiYXKgTEHOD[÷gTaDgTHkGEH>dFc_HDaIHXKTHPGFTagûIFTHXTYHùEFG[YKIF^PTYmTYgTHLKFHD[IgTaDIITETYHúKaXWTKFHXTEHXT[FIVWTEHOVWaDgTY 7SIVWKEgKIHMWDE8HKEHXKTHRDVWFHmYiaaFTE_HIKEXHE[YH÷iE÷eTWEH`DWYTHkTYgDEgTElHNmTYHKYgTEXfKTHFYD[TYTHKVWHXKTITYHþTKFH[EgTWTLLFTY_HmDYmDYKIVWTY \TITaaKghTKFHmTYTKFIHEDVWlHùEefKIVWTEHKIFHXKTHhGLHL[EKIFKIVWTHOGf4TFeTKFHX[YVWHTKETEHhDYKhDF[YDaTEHCDIKEG^MDZKFDaKIL[IH[EXHXKTHmGXTEaGIT MGYY[ZFKGEHXTYH`TaeKE^@YDHDmgTaöIFHfGYXTElHR[ELTWYHWDmTEHXKTHLKaaKDYXTEIVWfTYTEH?aKgDYVWTEHXDIHODgTEl NLHlDEXTHkGEHNaLDF9HIFTKgFHXTYHøYTLXT_HXTYHD[÷HIKVWHWûaF_HET[TYXKEgIHKLHÿYDVWFmD[HXTIH7lDWDFHÿDaDVT8HDm_HTKETLHùLZaDEFDFHkGE DYFK÷KeKTaaTLHfTIFaKVWTLHO[ZTYa[6[I_HXDIHXKTH[LaKTgTEXTEHPû[ITYeTKaTEHTYXYiVhFlHýKETHöIFTYYTKVWKIVWTHMTFFTHWDFHLKFHaGhDaTEH\TIVWû÷FIZDYFETYE XKTITIH`GKEFHüTEF[YTHgTgYiEXTFlHùEHXTYHWGVWTaTgDEFTEH[EXHT6eTIIKkHFT[YTEHjEFTYh[E÷F_HfGHXKTH5K÷FhDmKETEHfKTHX[YVWIKVWFKgTHlD[LhDZITaEHKE XKTHIVWfKEXTaEXTHPöWTHXTIHgaDIimTYXTVhFTEHNFYK[LIHTLZGYIVWfTmTE_HgaûEeFHTIHkGEHUDYLGYH[EXHCWYGLlHSTYHeTEFYDaTHùEETEYD[LHKIFHX[YVW TKETHgTIVWLDVhkGaaTHmDYHKLH`[YFTEIFKaHgTIVWLiVhFlHUDEHfiYXTHIKVWHKEHKYgTEXTKEHO[ZTY^PKaFGEHGXTYHUDYYKGFFHPGFTaHkGEHmTkTYa9HPKaaIHkTYITFeF ÷iWaTE_HfTEEHEKVWFHXKTH\ûIFTHfûYTEl ùLH7lDWDFHÿDaDVT8HkGEHNaLDF9HKIFHXKTHUD÷KDHEKVWFHE[YHe[gTgTE_HIKTHKIFHDaagTgTEfûYFKglHSKTHDYgföWEKIVWHmaKVhTEXTEH7mKIETILTE98_HXKT FT[TYIFTHMaTKX[EgH[EXHD[÷÷ûaaKgTEHOVWL[VhHFYDgTE_HIZKTaTEH[ETEFfTgFHLKFHXTLHPDEX9lHOKTHmKaXTEHF[IVWTaEXTHüTYIVWföYTYY[EXTElHùWYT mY[FDaTE_HkTYIVWaDgTETEH\TIKVWFTYHkTYfTKITEHIKTHTKEXT[FKgHKEHXTEHmTYTKVWHXTYHmDEXTEhYKLKEDaKFûFlH:mTYDaaHIKEXHIVWfTYgTfKVWFKgTH5TKmfûVWFTY ZGIFKTYF_HXKTHIKVWHfKTHMDYKhDF[YTEHKWYTYHOZTeKTIHmTfTgTElHSKTHO[KFTE_HIGHTY÷DWYTHKVW_HIKEXHIDLFH[EXHIGEXTYIHkGEHUD÷KDmGIITEH[EXHKWYTE 7\GYKaaDI8HmTaTgFlHùVWHmKEHfGWaHXTYHTKEeKgTH\DIF_HXTYHIKVWHhTKETEHmGX9g[DYXHaTKIFTFl üTYmai÷÷TEXHKIFHXKTHhGILGZGaKFKIVWTHþ[IDLLTEITFe[EgHXKTITIHX[mKGITEHQYD÷KhDEFTE^l[XTaIlHùEHXTYH5Gmm9HXTIH7lDWDFHÿDaDVT8HFYK÷÷FHIKVW UGIhD[HLKFHRTfHMGYh_HQTaHNkKkHLKFHODEhFHÿTFTYIm[Yg_HRTDZTaHLKFHM[DaDH5[LZ[YlHSTYH7ZYGaTFDYKIVWTHùEFTYEDFKGEDaKIL[I8HkGEHTKEIFHKIFHX[YVW TKETHZYG÷KFmTITIITETHET[TH7CGEETVFKGE8HDmgTaöIFHfGYXTE_HXKTHEKVWFHfTEKgTYHfTaF[LIZDEETEXHKIFl ùEH4TETEHQDgTEHf[YXTHD[VWHXTYHjhDIHRDIDYmD4TfIHmThDEEF_HXKTHhDIDVWKIVWTHPD[ZFIFDXFHkGEHNaLDF9HEDVWHþTaKEGgYDX_HXDIHLDEHkGEHE[EHDE 7NIFDED8HETEETEHfiYXT_He[HkTYaDgTYElHùVWHWDmTHhTKETEHTKEeKgTEHmTDLFTE_HgTIVWfTKgTHXTEEHTKETEHD[IaûEXKIVWTEHSKZaGLDFTEHgTFYG÷÷TE_HXTY XTEHjLe[gHKEHXTEHYD[WTEHRGYXTEHmTgYi]FHWûFFTlHRKTLDEXHfTK]He[YHOF[EXT_HfKTHXKTH[EgTWT[TYaKVWTEHMGIFTEH÷iYHXKTITEHQYDEI÷TYHD[÷gTmYDVWF fTYXTEHIGaaTE_He[LDaHTIH[LHXKTHOFDDFI÷KEDEeTEHEKVWFHmTIGEXTYIHgiEIFKgHmTIFTaaFHfDYlHSTYHOVWfTYZ[EhFHXTYHlTZ[maKhHMDIDVWIFDEHfiYXTHKE þ[h[E÷FHKLHjLhYTKIH4TETYHmTeKYhTH[EXHOFûXFTHaKTgTE_HKEHXTETEHXKTHl[IITEHG÷FHDVWFeKgHÿYGeTEFHXTYHmTköahTY[EgHD[ILDVWTElHSDe[HeûWaTEHjYDaIh_ NhF4[mKEIh_HÿTFYGZDfaGfIh_HMDYDgDEXD_HÿDfaGXDY_HOTLKZDaDFKEIhH[EXHXDIHaDEggTIFYTVhFTH?IF[÷TYHXTIHùIVWKL_HfGHIKVWHXKTHTYIFTE MGIDhTEkTYmûEXTHmKaXTFTEl SKTHýYhaûY[EgTEH÷iYHXKTITEHúKaahiYDhFHIKEXHkKTa÷ûaFKgH[EXHfKXTYIZYiVWaKVWlHSDHfKYXHDYg[LTEFKTYF_HXKTHjLgTm[EgHkGEHNaLDF9HITKHmTYTKFI imTYköahTYFH[EXHDaae[HEDWTHKEHXTYHIiXöIFaKVWIFTEHýVhTHXTYHlTZ[maKhHDEHXTYH\YTEeTHXTYHüGahIYTZ[maKhHCWKEDHgTaTgTElHýKETHDEXTYTHüTYIKGE mTIDgF_HXTYHÿYûIKXTEFH÷iWaTHIKVWHKEHNaLDF9HTEF÷YTLXTFH[EXHFTKafTKITHKIGaKTYFlHýYHkTY÷igTHE[YHimTYHTKETHmTgYTEeFTHMGEFYGaaTHimTYHXKTHXKkTYITE UD÷KD^?YgDEKIDFKGETEH[EXHúKYFIVWD÷FI^\DEgI_HXKTHXGYFHXTEHQGEHDEgTmTElHRDVWFTKaKgHfKYhTHIKVWH÷iYHKWEHD[VWHD[I_HXD]HITKETHOKZZTHEKVWFHXTY kGYWTYYIVWTEXTEHhDIDVWKIVWTEHOFDLLTIgY[ZZTHXTYHOiXYTgKGEHDEgTWöYF_HXKTHDaIH7ja[HS4[I8_HDaIH7@aFTYT8HGXTYH7\YG]THPGYXT8HmTeTKVWETF fKYX_HIGEXTYEHXTYHøöXTYDFKGEHXTYH7UKFFaTYTEHPGYXT8HGXTYH7?YFDHS4[I8_HXKTHKEHXTEHeTEFYDaTEHIGfKTHEöYXaKVWTEH?maDIFTEHDLHIFûYhIFTEHkTYFYTFTE KIFH[EXHXGYFH[EFTYHIaDfKIVWTEHýKEfDEXTY[EgIXY[VhHgTYKTFl ùEHXKTITLHþ[IDLLTEWDEgHITKHD[VWHTYfûWEF_HXD]HKLHû[]TYIFTEHúTIFTEHMDIDVWIFDEI_HDLHlDEXTHXTIHMDIZKIVWTEHUTTYIH[EXHIZTeKTaaHY[EXH[L XDIHQTYYDKEHXTYH[ETYLT]aKVWTEHÿTFYGaT[LIVWûFeTHkGEHQTEgKI_HkGEHDaFTYIHWTYHXKTH7MaTKETHPGYXT8HGXTYH7MKIVWKHS4[I8HhDLZKTYFlHSDIHWDFHITKET mTXT[F[Eg_HXTEEHXKTHDIKDFKIVWTHjYmTköahTY[EgH÷iWaFHIKVWHKEHXKTITLHZGFTEFKTaaTEHýaXGYDXGHfTKFHLTWYHe[HPD[ITHDaIHXKTHe[gTfDEXTYFTE Y[IIKIVWTEHQTVWEKhTYH[EXHXiY÷FTHIKVWHTKETYHTkTEF[TaaTEHN[÷FTKa[EgHMDIDVWIFDEI_HfKTHIKTH5TmTXH[EXHOGaIVWTEKe9EHkGYIVWfTmFT_HLKFHRDVWXY[Vh fKXTYITFeTEl
STYHfKYhaKVWTH\Y[EXH÷iYHXDIH[YIZYiEgaKVWHDmTEFT[TYaKVWHDEL[FTEXTHÿYG4ThFH7NIFDED8HKIFHKEHXTYHSTLGgYDZWKTHe[HI[VWTElHS[YVWHXKT PD[ZFIFDXFkTYaDgTY[EgHfGaaTHRDIDYmD4TfHXTEHY[IIKIVWTEHNEET6KGEIDmIKVWFTEHTKETEHlKTgTaHkGYIVWKTmTEH[EXHXKTHhDIDVWKIVWTHüGYWTYYIVWD÷FHD[VW KEHXTEHEöYXaKVWTEH\TgTEXTEHmTFGETE_HIGHWTK]FHTIlHüGEHDaaTEH\jO^ÿYûIKXTEFTEHmT÷KEXTFHIKVWHXKTITYHUDEEHKEHXTYHIVWfKTYKgIFTEHOKF[DFKGE_H[EXHKE ITKETYHjLgTm[EgHmTFGEFHLDE_HXD]HøaT6KmKaKFûFHXKTHTKEeKgTHUTFWGXTHITK_H[LHXTYHjLDYL[EgHX[YVWHXTEHY[IIKIVWTEHmûYTEHe[HTEFgTWTEl STYHmTXYGWaKVWTEHOFDDFID[÷aöI[EgHKIFHRDIDYmD4TfHIVWGEHKLHkTYgDEgTETEH`DWYHLKFHXTLHMGLLTEFDYHTEFgTgTEgTFYTFTEKH7ýKEH?YVWTIFTYHhDEE E[YHTKETEHSKYKgTEFTEHWDmTEl8HýYHTEFLDVWFTFTHÿDYaDLTEFH[EXHlTgKTY[EgH[EXHgYK÷÷HD[÷HXDIHùEIFY[LTEFHXTYHÿYûIKXKDaHTYaDIIT_HKEHþTEFYDaDIKTE 7jhDIGhYDFKT8HgTEDEEF_He[YiVhlHOTKETHNaaTKEWTYYIVWD÷FHaKT]HTYHX[YVWHTKEHÿYûIKXKDaYTgKLTHLKFHT6FYTLTEHüGaaLDVWFTEHeTLTEFKTYTElHÿTY lT÷TYTEX[LHaKT]HTYHITKETHNLFIeTKFHkTYaûEgTYElHúDIHE[EHXKTHET[THMDZKFDaTHKEHXTYH÷TYETE_H[EfKYFaKVWTEHOFTZZTHmTFYK÷÷F_HIGHKIFHTIHXKTITL UDVWFLTEIVWTEHgTa[EgTE_HITKETEHúKaaTEHKEHlThGYXeTKFHX[YVWe[ITFeTE_HfKTHfKYHKLH`DWYHbccdHDEH?YFH[EXHOFTaaTH÷TIFIFTaaTEHhGEEFTEl
SKTHÿYGZWTeTK[EgHXTIHPGXIVWDHMDIIDkK ùEHXKTITLHPTYmIFH>ddDHWDFFTHKVWHLKYHTKETHD[IgTXTWEFTH:mTYaDEX^HYTKITHkGYgTEGLLTEH[EXHXD÷iYHTKETEHKXTDaTEHmTgaTKFTYHgT÷[EXTElHOTYKh ùIDmTgGfHfDYH\TYLDEKIFKhZYG÷TIIGYHDEHXTYHjEKkTYIKFûFHNaLDF9lHýYHfDYHTKEHF9ZKIVWTYHMDIDVWT_HIDWHD[I_HDaIHITKHTYHgTYDXTHkGLHÿ÷TYXHgTIFKTgTE_ fDYHIFTFIHe[HOVWTYeTEHD[÷gTaTgFH[EXHIZYDVWHTKEHa[ZTEYTKETIHST[FIVWlHþ[LKEXTIFHKEHXKTITYHPKEIKVWFHWDmTEHXKTHjEFTYYKVWFILTFWGXTEHXTYHSSl mTDVWFaKVWTEHýY÷GagHgTWDmFH[EXHmTKHXTEHmTgiEIFKgFTEHX[YVWD[IHZGIKFKkTHýYKEETY[EgTEHWKEFTYaDIITElHøiYHhDIDVWKIVWTHüTYWûaFEKIITHaTmFTHXKT øDLKaKTHKEHTKETYHITWYHhGL÷GYFDmaTEHúGWE[Eg_HXKTHIKTHKLHOFKaHXTYHTWTLDaKgTEHOýS^RGLTEhaDF[YDHLömaKTYFHWDFFTlHOTKETHøYD[_HXKTHTmTE÷DaaIHXKT OZYDVWTH\GTFWTIHmTWTYYIVWFT_Hf[YXTHkGEHKWYTLHUDEEHaKTmTkGaaH7U[FFK8HgTEDEEFlHùWYTH\DIF÷YT[EXIVWD÷FHhDEEFTHhTKETH\YTEeTEl mTKHXTYHmTIFKLL[EgH[EITYTIHøDWYFeKTaIHWDmTEHfKYH[EIHEKVWFHDEHXTEHG÷÷KeKTaaTEHüGYIVWaDgHgTWDaFTElHúKYHkTYeKVWFTEHD[÷HXKTHP[aXKg[EgHDEHXTE gT÷TKTYFTEHRDFKGEDaXKVWFTYHNmDKHM[EDEmD4Tf_HXTYHD[VWHKLHmTEDVWmDYFTEHMKYgKIFDEHWöVWIFTIHNEITWTEHgTEKT]FlHúKYH÷DWYTEHKEHlKVWF[EgHD[÷HXDI OFûXFVWTEHQ[YhTIFDE_HD[÷HXTLHöIFaKVWTEHj÷TYHXTIHO9YHSDYKDHKLHIiXaKVWTEH5DEXTIFTKaHgTaTgTElHSKTHýEF÷TYE[EgHmTFYûgFHTFfDH>DccHMKaGLTFTY_H[EX XKTHlTKITHfiYXTHLKEXTIFTEIHefTKHQDgTHXD[TYEl ùEHQ[YhTIFDEHTYWTmFHIKVWHXKTHgYDEXKGITH\YDmIFûFFTHTKETIHWGVWkTYTWYFTEHO[÷KH[EXHýYTLKFTEHD[IHXTLHeföa÷FTEH`DWYW[EXTYF_HXTIHPGXIVWD NWLTXHMDIIDkK_HXTYTEHmD[HkGEHhTKETLH\TYKEgTYTEHDaIHXTLHúTaFTYGmTYTYH[EXHúTaFeTYIFöYTYHQDLTYaDE_HD[VWHQKL[YH5TEhHgTEDEEF_HKLHIZûFTE kKTYeTWEFTEH`DWYW[EXTYFHKEHN[÷FYDgHgTgTmTEHfGYXTEHfDYlHSKTITYH7NLKY^Ta^MDmKY8_HXTYHKEH=DHøTaXeigTEHXTEHgDEeTEH?YKTEFHkTYfiIFTFHWDFFT_ fKYXHWT[FTHKEHXTYHlTZ[maKhHjImThKIFDEHDaIHRDFKGEDaWTaXHgT÷TKTYFl úKYHWDmTEHXKTHû[]TYTEHúGWEhûIFTEHkGEHNaLDF9HEGVWHhTKETHWDamTHOF[EXTHWKEFTYH[EIHgTaDIITE_HXDHEKLLFH[EIHIVWGEHTKETHfTKFTHÿYûYKTHD[÷lHOKT TYIFYTVhFHIKVWHmYD[EH[EXHfTaaKgHmKIHe[LHPGYKeGEFlHSKTHOFYD]THKIFHKEHg[FTLHþ[IFDEXPHfKYHhGLLTEHeigKgHkGYDElHSDIHKIFHhTKETHP[EgTYIFTZZTl ùLLTYHfKTXTYHFD[VWTEHNVhTY÷aûVWTEHD[÷_HDmTYHXKTHýYEFTTYFYûgTHIKEXHKEHXKTITLH`DWYHT6FYTLHgTYKEglHSKTHZDYFKTaaTHÿYKkDFKIKTY[EgHXTY 5DEXfKYFIVWD÷FHWDFHIKVWHEKVWFHDaIHOTgTEHD[IgTfKYhFlHýIH÷TWaFHDEHMYTXKFTE_HDEHUDIVWKETE_HDEHSiEgTLKFFTaElHOGgDYHXDIHODDFg[FHKIFHD[IgTgDEgTE_ [EXHkKTaHüKTWHf[YXTHEGFgTIVWaDVWFTF_HfTKaHTIHhTKEHø[FFTYHgDml ùLHOiXTEHTEFXTVhTEHfKYHIVWETTmTXTVhFTHM[ZZTElHSDEEHmTfTgTEHfKYH[EIHKEHTKETYHPigTaaDEXIVWD÷FHLKFHIVWDY÷TEHM[YkTElHSKVWFTYHRTmTaHKIF D[÷gThGLLTE_HD[IHXTLHDmIVWT[aKVWTH\KZI÷Kg[YTEH;HSDYIFTaa[EgTEHkGEHPKYIVWTEH[EXH`ûgTYEH;HfKTH\TIZTEIFTYHXTIHIGeKDaKIFKIVWTEHlTDaKIL[I D[÷FD[VWTElHSKTHSöY÷TYHIKEXHmTIVWTKXTEH[EXHKLHgTIDLFIGf4TFKIVWTEHMGaVWGI^OFKaHTYmD[FlHN[÷HXTEHUûYhFTEHKIFHXDIHNEgTmGFHXiY÷FKglHR[Y DahGWGaKIVWTH\TFYûEhTH[EXHþKgDYTFFTEHD[IHDaaTYHPTYYTEH5ûEXTYHgKmFHTIHKLH:mTY÷a[]lHSKTHUTEIVWTE_H÷DIFHD[IIVWaKT]aKVWHNIKDFTE_HfKYhTEHûYLaKVWl 7SKTHý6KIFTEemTXKEg[EgTEHIKEXHkKTaHWûYFTYHgTfGYXTEHDaIH>ddbHmTKHùWYTLHaTFeFTEHmTI[VW8_HLTKEFHùIDmTgGflHSKTHøYKTXWö÷THfKYhTEHgTZ÷aTgFTYHDaI XKTHúGWEIFûFFTEHXTYH5TmTEXTElHSKTH\YDmIFTKETHIKEXHLTKIFHLKFHPDamLGXTEHkTYeKTYFlHùVWHTEFXTVhTHE[YHfTEKgTHUGIVWTTElHSD÷iYHaöITEHIKVWHXKT UDeDY^M[ZZTaE_HXKTH\YûmTYHWTKaKgTYHUûEETY_HKEHXKVWFTYHøGagTHDml jLHe[YHhDIDVWKIVWTEHOFDXFHSIVWDLm[aHe[HgTaDEgTE_HX[YVWR[TYTEHfKYHXTEHEöYXaKVWTEHþKZ÷TaHXTYHlTZ[maKhHMKYgKIFDElHSKTHNIZWDaFmDWEHEDVW MDYD^mDaFDHKIFHX[YVWgTWTEXHkGEHOFYD]TEXöY÷TYEHgTIû[LFlHSKTITIHKIFHfGWaHXTYH÷Y[VWFmDYIFTH5DEXTIFTKa_HfûWYTEXHKLHIiXaKVWTEHPGVWgTmKYgTHkGE MKYgKIFDE_HXDIHe[LHSDVWHXTYHúTaF_He[LHÿDLKY_HimTYaTKFTF_HmKFFTYTHNYL[FHWTYYIVWFlHùEHXTEHF9ZKIVWHY[IIKIVWTEHPGaeWû[IVWTEHLiIITEHEGVW [EaûEgIFHIaDfKIVWTHMGaGEKIFTEHgTfGWEFHWDmTElHOGgDYHTKETHGYFWGXG6THMKYVWTHFD[VWFHD[÷_HfûWYTEXHKVWHkTYgTmaKVWHEDVWHTKETYHUGIVWTTHN[IIVWD[ WDaFTlHNaaTHefTKHMKaGLTFTYHFYGFeFHTKETHIKamTYEHDEgTIFYKVWTETH5TEKEIFDF[THXTLHúKEXHXTIHúDEXTaIl NmTYHXKTHmTköahTY[EgHKIFHD[VWHWKTYHDIKDFKIVWHgTfGYXTElHSDIHüGYXYKEgTEHXTYHPDLLTa^H[EXHþKTgTEWTYXTEHkTYûEXTYFHmTYTKFIHXDIH\TIKVWFHXKTITY mKIaDEgHGIFT[YGZûKIVWHfKYhTEXTEH5DEXKX9aaT_HfGHPiWETYH[EXH\ûEITHimTYHXKTHCWD[IITTHKYYTElHýIHWDFHfGWaHhTKETH÷YTLXTE÷TKEXaKVWTEHÿGgYGLTHKE XKTITEH?YFIVWD÷FTEHgTgTmTE_HXKTHXTEHý6GX[IHXTYHý[YGZûTYHTYhaûYTEHhöEEFTElHUTKEHmTgaTKFTYHùIDmTgGfHgTWöYFHGWETWKEHe[H4TETYHDhDXTLKIVW gTmKaXTFTEHOVWKVWF_HXKTHXTEHl[IITEHD[÷gY[EXHKWYTYHM[aF[YH[EXHýYeKTW[EgIaTKIF[EgHkTYm[EXTEHmaTKmFlHSKTHüTYmYTVWTEHXTYHKLZTYKDaTE üTYgDEgTEWTKFHaTgFHD[VWHTYHXTLHeDYKIFKIVWTEH[EXHXTLHIGf4TFKIVWTEHQGFDaKFDYKIL[IHe[YH5DIF_HEKVWFHXTEHUTEIVWTElHSGVWHKYgTEXTKETHX[LZ÷T NWE[EgH[EXHø[YVWFHL[]HIKVWHXTYHWKTIKgTEHOKTXaTYHmTLûVWFKgFHWDmTEl `TEITKFIHkGEHMDYD^mDaFDHkTYaDIITEHfKYHXDIHhKYgKIKIVWTHQTYYKFGYK[LlHRTmTaH[EXHlTgTEHWDmTEHIKVWHkTYeGgTElHSKTHhDIDVWKIVWTHOFTZZTHEKLLFH[EI fKTXTYHD[÷HKEHKWYTYH÷TKTYaKVWTEHUGEGFGEKTlHNLHPKLLTaHimTYHXTEHNaDFD[^mTYgTEHTEF÷DaFTFHIKVWHTKEHgYDEXKGITIHOVWD[IZKTalHR[YHKE @R[DFGYKDaD÷YKhD_HDEHXTEHE[TaaTEHXTIHRKaHGXTYHDLH?mTYaD[÷HXTIHMGEgGHWDmTHKVWHIGH[EWTKLaKVWT_HmThaTLLTEXTHøDYmI9LZWGEKTEHmTKLHRDWTE XTYHRDVWFHmTGmDVWFTFlHSTYHPGYKeGEFH÷aDVhTYFHgTam_HgYiEH[EXHkKGaTFFHD[÷lHSKTHjYeTKFIFKLL[EgHfKYXHX[YVWHXKTHNEh[E÷FHTKETIHYKTIKgTEHOVWfDYLI ÷TFFTYHlDmTEHkTYIFûYhF_HXKTHIKVWHLKFHfKXTYaKVWTLHMYûVWeTEHD[÷H[EITYHN[FGHe[HIFiYeTEHIVWTKETEl üGEHXTYHOFDXFHSIVWDLm[a_HfGHfKYHimTYEDVWFTE_HgKmFHTIHfKYhaKVWHEKVWFIHe[HmTYKVWFTElHNmTYHKLHPGFTaHWTYYIVWFHTKETHgTXYiVhFTHOFKLL[EglHNE XTYHlTeTZFKGEHfTYXTEHfKYHkGEHXTYHXKTEIFWDmTEXTEHl[IIKEHD[÷gT÷GYXTYF_HLögaKVWIFHIVWETaaH[EITYTHNmTEXLDWaeTKFH;HÿTaLTEKH[EX PDLLTaWDVh÷aTKIVWH;He[H[EIHe[HETWLTEH[EXHXKTHþKLLTYHD[÷e[I[VWTElHN[VWHùIDmTgGfHfKYhFHETYköIlH7SKTHMYKLKEDaKFûFHWDFH[EmTIVWYTKmaKVWT N[ILD]THDEgTEGLLTE8_HfDYEFHTYlH7SKTH÷YiWTYTEHOKVWTYWTKFIGYgDETHXTIHM\mHIKEXHkGEH\TfDaFFûFTYEH[EFTYfDEXTYFlHýIHZDIIKTYFHKLLTYHfKTXTY_ XD]HUTEIVWTEH[LgTmYDVWFHfTYXTE_H[LHKWETEHXKTHRKTYTEHe[HYD[mTElHUKFHQYDEIZaDEFDFTEHaû]FHIKVWHITWYHkKTaH\TaXHkTYXKTETEl8 jLHUKETYDafDIITYHe[HmTIGYgTE_HmKEHKVWHXGVWHEGVWHe[HIZûFTYHOF[EXTHDEHXTEHN[IIVWDEhHKLHýYXgTIVWG]HWKE[EFTYgTgDEgTE_HfGHIKVW kTYXûVWFKgTH\TIFDaFTEHKEHXTEHÿaiIVWLömTaEHYûhTaFTElHOKTHFY[gTEH5TXTY4DVhTEH[EXHOGEETEmYKaaTElHUDEVWTH÷iWYFTEHXKTHúD÷÷THKLHPDa÷FTYlHùEHTKETY
ýVhT_HfGHTIHmTIGEXTYIHTYYTgFHe[gKEg_HaDgTEHIVWfTYTHUDhDYGf^ÿKIFGaTEHgaTKVWHETmTEHXTEHúGXhD÷aDIVWTEHD[÷HXTYHQKIVWZaDFFTlHSKT 7STIVW[YED4D8HXYûEgFTHLKVWHe[YHjLhTWYlH7ýIHKIFHkGYWKEHIVWGEHe[HTKETYHOVWaûgTYTKHKEHXTYHOD[EDHgThGLLTE_H[EXHDaIHN[IaûEXTYHhöEEFTEHOKT mTIGEXTYIHgT÷ûWYXTFHITKE8_H÷aiIFTYFHIKTHLKYHe[l NLH÷GagTEXTEHQDgHZDIIKTYTEHfKYHXKTHOFDXFHQIVWKLhTEF_HIVWGEHKLHýKE÷a[]mTYTKVWHXTYH[ImThKIVWTEHPD[ZFIFDXFHQDIVWhTEFHgTaTgTElHùLLTY fKTXTYHhYT[eTEHGXTYHimTYWGaTEHfKYH5DIFfDgTEhGaGEETEHLKFHZTYIKIVWTEH[EXHFiYhKIVWTEHMTEEeTKVWTElHSKTHOFDXFHITKHfTgTEHXTIHúGWaIFDEXTI KWYTYHmDeDYKHmThDEEF_HTYhaûYFHLTKEHmTgaTKFTYlHúTYHWKTYHTFfDIHD[÷HIKVWHWDaFT_HaDXTHe[YHPGVWeTKFHITKETYHMKEXTYHEKVWFHfTEKgTYHDaIHFD[ITEXH\ûIFTHTKE [EXHmTfKYFTHIKTH÷iYIFaKVWlHNLHN[IgDEgHXTYHgTIVWû÷FKgTE_HDmTYHWû]aKVWTEHOKTXa[EgHmKTgTEHfKYHKEHlKVWF[EgHD[÷HMKI9aH?YXDHEDVWHRGYXfTIFTEHDml STYHO9YHSDYKDH÷aKT]FH;H÷iYH[EIH[EIKVWFmDYH;HKEHgTYKEgTYHýEF÷TYE[EgHZDYDaaTaHe[YHOFYD]TlHSTEEGVWHFYGVhETFHXDIH5DEXHKLLTYHLTWYHD[Il mD[LfGaa÷TaXTYHfTYXTEHITaFTElHQYGFeHXTYHIZûFTEH`DWYTIeTKFHKIFHXKTHOGEETHEGVWHWTK]lHOVWD÷WTYXTEHfTKXTEHefKIVWTEHfTKFgTIFYTVhFTEHøYKTXWö÷TEl ýKEHmTIGEXTYIHWTY[EFTYgThGLLTETIHùEX[IFYKTETIF_HfGHhTKETHUDIVWKETHLTWYHDYmTKFTF_HFYûgFHXTEHDEIZY[VWIkGaaTEHRDLTEH7QTLTYaDE8lHùEHXTY FTaaTY÷aDVWTEHýmTETHfTYXTEHXKTHUGIVWTT^RT[mD[FTEHKLLTYHeDWaYTKVWTYl < ýEXaKVWHFD[VWFHXDIHOFûXFVWTEHQ[YhTIFDEHD[÷_HXDIHmKIHe[LHkKTYeTWEFTEH`DWYW[EXTYFHMDIIKHWKT]lHüGEHøTYETHKIFHXDIHgKgDEFKIVWTHUD[IGaT[LHe[ TYhTEETE_HXDIHXKTHPDEXIVWYK÷FHXTIH7\YG]TEHøiYIFTE8HQDLTYaDEHFYûgFlHSKTHfTKFD[IaDXTEXTEHÿGYFDa÷YGEFTEHfKTHD[VWHXKTHM[ZZTaE_HXTYTEHTKETHXTL \[Y^ýLKYHmKIHKEHSTFDKaHTEFIZYKVWF_HXKTHMTYDLKh^SThGYDFKGETEHKEHmaD[_H\TamH[EXH\YiEHkTYfTKITEHEDVWHODLDYhDEXlHSKTHN[ILD]THIKEXH÷DIFHXKTHXTY mKmK^PDEKL^UGIVWTTl úDIHLDgHXTEH÷iYVWFTYaKVWTEHQDLTYaDEHmTfGgTEHWDmTE_HXTLHU9IFKhTY_HSKVWFTYH[EXHÿYTXKgTYHNWLTXHMDIIDkK_HXTYHKLHeföa÷FTEH`DWYW[EXTYF gTaTmFHWDF_HIGaVWTHýWYTHe[HTYfTKITEAHüKTaaTKVWF_HfTKaHXTIITEH÷YKTXaKVWT_He[FKT÷IFHLTEIVWTE÷YT[EXaKVWTHüTYDEaDg[EgHe[HITKETYHTKgTETE LöYXTYKIVWTEHRDF[YHKEHIGHhYDIITLH\TgTEIDFeHIFDEXl jLHXKTHøKg[YHXTIHPGXIVWDHMDIIDkKHhYTKITEHeDWaaGITH5TgTEXTElHüGEHXTEHMGYDEgTaTWYFTEHKEHm[hWDYDH[EXHkGEHXTEHXGYFKgTEHO[÷KHWDFFTHTYHIKVW ÷YiWHDmgTfDEXFlHýYHI[VWFTHXKTH\GFFTIEûWTHDLHlDEXTHXTYHúiIFT_HKEHXTYHýKEIDLhTKFlHüGLHüGahHf[YXTHTYHDmgöFFKIVWHgTaKTmFH[EXH[LHgTKIFaKVWTE lDFHmT÷YDgFlHýYHIGaaHIGgDYHIVWGEHDaIHTa÷H4ûWYKgTYHMEDmTHLKFHTKETYHZTYIöEaKVWTEHüGaaLDVWFHXTIHÿYGZWTFTEHUGWDLLTXHD[IgTIFDFFTFHfGYXTEHITKE_ XKTHKWLHX[YVWHTKETEHFD[ITEX4ûWYKgTEH\YTKIHimTYLKFFTaFHf[YXTlHQDFIDVWTHKIFHfGWa_HXD]HTYHIKVWHLKFHB=H`DWYTEH;HKEHXKTITLHNaFTYHfDYHUGWDLLTX gTIFGYmTEH;HKEHDIhTFKIVWTIHýYTLKFTEF[LHe[YiVheGgH[EXHITKETHhDYgTHúGWEWöWaTHEKTHLTWYHkTYaDIITEHWDFl SDIH\YDmLDaHkGEHMDIIDkKHKIFHYKEgI[LHkGEH\TYiIFTEH[LIFTaaFlHQiYhKIVWTHøKYLTEHWDmTEHXKTHlTEGkKTY[EgHimTYEGLLTElHSDIHüGahH÷KEXTFHWKTY DaaLûWaKVWHe[LHYTaKgKöITEHmYD[VWF[LHe[YiVhlHmYD[FZDDYTHkTYWDYYTEHDLH\YDmHXTIHPTKaKgTE_H[LHMKEXTYITgTEHe[HTYmKFFTElHSDmTKHgTWFHTIHaGVhTY [EXHWTKFTYHe[lHRGVWHIKEXHWKTYH4DHD[IHXTYHaDEgTEHþTKFHXTYHøYTLXWTYYIVWD÷FHDaaTHþTKVWTEHTKETYHh[YKGITEHUKIVWh[aF[YHTYWDaFTElHùLHüGYgDYFTEHXTY UGIVWTTHfTYXTEHý6TLZaDYTHXTIHMGYDEH÷iYHXTEH\TgTEfTYFHkGEHefTKHjO^SGaaDYHkTYhD[÷F_H[EXHgaTKVWHXDETmTEHfKYXHúGXhDH[EXH?mIFIVWEDZI DEgTmGFTEl SKTHþTKVWTEHXTYH\GFFaGIKghTKFHIKEXHKLHþTEFY[LHXTIHFYKIFTEHOFûXFVWTEIHQ[YhTIFDEHDaagTgTEfûYFKglHSDHmTWTYYIVWFHXKTH5TEKEIFDF[THfTKFTYWKEHXTE ÿDYDXTZaDFelHPDLLTYH[EXHOKVWTaHf[YXTEHkGLHMYKTgTYXTEhLDaHEKVWFHTEF÷TYEFlHSTYHÿGTFHNWLTXHMDIIDkKHWDFHIKVWHLKFHITKETEHTYmD[aKVWTE úTKIWTKFIkTYITE_H7PKhLTF8HgTEDEEF_HKEIH\TXûVWFEKIHTKEgTZYûgFlHPT[FTHfKYXHKWLHmTIGEXTYIHe[g[FTHgTWDaFTE_HXD]HTYHEKVWFHE[YHD[÷HÿTYIKIVWH[EX NYDmKIVWHXKVWFTFT_HIGEXTYEHD[VWHKEHXTYHFiYhKIVWTEHQIVWDgDFDK^OZYDVWTHITKETYHýZGVWT_HTKETLHRGLDXTE^SKDaThFHXTIH?g[I^MKZFIVWDh^OFDLLTIl ýKEHXYTKLDaKgTIH\TmTFHDLH\YDmHXTIHPGXIVWDHMDIIDkKHITKHTmTEIGHkTYXKTEIFkGaaHfKTHTKETHÿKagTY÷DWYFHEDVWHUThhD_HmTWD[ZFTFHXDIHüGahHfTKFTYWKE KEH÷YGLLTYHýKE÷DaFlHOVWGEHIGaaTEHIKVWHfKTXTYHXKTHSTYfKIVWTHXTYHXKkTYITEHmY[XTYIVWD÷FTE_HkGYHDaaTLHXTYHRDRIVWmDEXK9DH[EXHXTYHMDIIDkK9D_HDE XKTITYHgTfTKWFTEHOFTaaTHIDLLTaElHþ[LH7SWKhY8HWGVhTEHIKT_HfTEEHXKTHaûIFKgTEHmTI[VWTYH[EXHQG[YKIFTEHgTgDEgTEHIKEX_HDLHODYhGZWDgHD[I WTaaTLHUDYLGYH[EXHfKTXTYWGaTEHKEHTEXaGITYHlTeKFDFKGEHXKTHmTFT[TY[EgHkGEHXTYHDaaTIHX[YVWXYKEgTEXTEHÿYûITEeHNaaDWIKH7ýYHaTmF_HTYHaTmF_HTYHaTmF LHW[DHKDOKIVW[Q8 UTKETLHøYT[EXHùIDmTgGfHhDLHXKTITHgTKIFaKVWTHúKTXTYgTm[YF_HXKTHmTKHXTEHO[÷K^`iEgTYEHEKVWFH÷YTKHKIFHkGEHNmTYgaD[mTEH[EXHþD[mTYfDWE_ TFfDIH[EWTKLaKVWHkGYlHN[÷HXTYHliVh÷DWYFHKIFHTYHKEH\TXDEhTEHkTYI[EhTE_H[EXHfKYHkTYZDIITEHXTIWDamHXTEHøaTVhTEH?FYDY_HfGHXTYH÷iYVWFTYaKVWT QDLTYaDE_HEDVWXTLHTYHmDgXDXHXTLHýYXmGXTEHgaTKVWgTLDVWFH[EXHQD[ITEXTHkGEHOVWûXTaZ9YDLKXTEHTYYKVWFTFHWDFFT_HDLH>dlH`DE[DYH>HcD gTIFGYmTEHKIFlHùLHFKT÷TEHúKEFTYHWDFFTHXDLDaIHXTYH7NLKY^Ta^MDmKY8He[YHýYGmTY[EgHXTIHVWKETIKIVWTEH\YG]YTKVWTIHD[IgTWGaFH[EXHITKETHQY[ZZTEHKL OVWETTHkTYIDLLTaFlHmTKLHaTFeFTEHgYG]TEHmDEhTFFHkGYHXTLHN[÷mY[VWH;HTYHWDFFTHkTYL[FaKVWHe[HkKTaHNahGWGaHgTEGIITEH;HimTYhDLHKWEHXDIHFöXaKVWT STaKYK[LlHPûFFTHTYHXTEHSYDVWTEIGWEHkGEHÿThKEgHTmTEIGH[ETYmKFFaKVWH[EFTYfGY÷TEHfKTHITKETEHQGX÷TKEXHQGVWFDL9IVW_HXTEHaTFeFTEH\YG]^MWDEHXTY \GaXTETEHPGYXT_HGXTYHfKTHXTEHGILDEKIVWTEHMYKTgIWTaXTEHmD9DeKXHKEHXTYHOVWaDVWFHkGEHNEhDYDA RDVWXTEhaKVWHkTYWDYYTEHfKYHKEHXTYHOFTZZTHkGEH?FYDYlH7ýIHKIFHhD[LHe[HgaD[mTE8_HL[YLTaFHùIDmTgGf_H7DmTYHmKIHe[aTFeFHWDFHXKTITYHFiYhKIVW^ LGEgGaKIVWTHQ9YDEEHKEHTKETLHaGVhTYTEHüDIDaaTEkTYWûaFEKIHe[LHMDKITYHkGEHCWKEDHgTIFDEXTElHýYHTEFYKVWFTFTHXTLHOGWEHXTIHPKLLTaIHYTgTaLû]Kg ITKETEHI9LmGaKIVWTEHQYKm[F_HD[VWHfTEEHTIHIKVWHmTKLHaTFeFTEHjEFTYfTY÷[EgIDhFHKLH`DWYH>=dHHE[YH[LHXKTHmTIVWTKXTETH5KT÷TY[EgHkGE efTKW[EXTYFHÿ÷TYXTEHWDEXTaFTlHüGLHSYDVWTEFWYGEHKEHÿThKEgHL[]FTHIVWGEHXDLDaIHTKETHgTfDaFKgTHN[IIFYDWa[EgHD[IgTgDEgTEHITKEl8 UTKEHhDIDVWKIVWTYH\T÷ûWYFTHgKmFHLKYHTKETEHhaTKETEHþTFFTa_HXTEHKWLHXTYHPGXIVWDHXTIH\YG]TEHUD[IGaT[LIHkGEHQ[YhTIFDEHimTYYTKVWFHWDF_HLKF XTYHúTKI[Eg_HLKYHXTEHQT6FHe[HimTYITFeTElHýIHKIFHTKETHXiIFTYTHmGFIVWD÷F_HXKTHD[IHXKTITEHKEHDYDmKIVWTYHOVWYK÷FHkTY÷D]FTEHüTYITEHXTIHU9IFKhTYI NWLTXHMDIIDkKHIZYDVWKH7STYH÷YiWTYTHúGWaIFDEXH[EITYTIHüGahTIHaKTgFHKEHQYiLLTYE8_HWKT]HTIHXDlH7jEITYTHMöEKgTH[EXHúTIKYTHIKEXHhTKET MiEXTYHXTYHúDWYWTKFHLTWYlH:mTYHXKTHUTEIVWWTKFHmYKVWFHIVWYTVhaKVWTIHjEWTKaHWTYTKElHSKTHúTaFHIFKYmFHXDWKE_H[EXHKWYHýEXTHhDEEHEKVWFH÷TYEHITKEl ý[TYH\GFFTIXKTETYHNWLTX_HIGHIGaaFHùWYHfKIITE_HWDFHý[VWHgTfDYEF_HmTkGYHTYHkGEHý[VWHgKEgl8
SDIH7\YG]THOZKTa8HDLHMDIZKIVWTEHUTTY
NhFD[_HKLH`[aKHbccd
OGHIFYDWaTEXH[EXHFiYhKImaD[HWDmTHKVWHLKYHXDIHMDIZKIVWTHUTTYHDEHITKETLHöIFaKVWTEHj÷TYHEKVWFHkGYgTIFTaaFlHúTK]THøTaITEHD[IHU[IVWTahDahHmKaXTE
Y[EXH[LHXTEHPD÷TEHTKETEHIFYDWaTEXTEHMYDEelHSTYH\Y[EXIFTKEHe[YHOFDXFHNhFD[Hf[YXTHTYIFH>dDFHgTaTgF_HEDVWXTLHXKTHXDLDaKgT
OGf4TFkTYfDaF[EgHD[÷HimTYYTKVWTHSakGYhGLLTEH[EXHD[÷HjYDEHgTIFG]TEHfDYlHOFDFFaKVWTHmD[FTEHYTKWTEHIKVWHKEHLDhTaaGITLHúTK]HDETKEDEXTY_ [EXHTIHhGLLFHEKVWFHXTYHýKEXY[VhHD[÷_HLDEHmT÷ûEXTHIKVWHDLHlDEXTHTKETIHÿTFYGaT[LYTkKTYIHgKgDEFKIVWTEHN[ILD]TIl úKYHIKEXHDLHRDVWLKFFDgHkGEHNIFDEDHDmgT÷aGgTEH[EXHWDFFTEHD[÷HXTYH5DEXhDYFTH÷TIFgTIFTaaF_HXD]HIKVWHNhFD[HLKFIDLFHXTYHIKVWHKEHXDIHMDIZKIVWT UTTYHkGYIVWKTmTEXTEHPDamKEITaHUDEg9IVWaDhHD[÷HWDamTYHOFYTVhTHefKIVWTEHøYDEh÷[YFH[EXHNaLDF9HmT÷KEXTFlHUKFHIGaVWTEHSKIFDEeTEHWDFHLDEHTIHWKTY e[HF[ElHSKTHmTköahTY[EgHkGEHNhFD[HL[]HKEHXTEHTYIFTEH`DWYTEHimTYfKTgTEXHIaDfKIVWHgTfTITEHITKE_H[EXHTIHWDFHfGWaHe[LHþTKFZ[EhFHXTY N[÷aöI[EgHXTYHOGf4TF[EKGEHTKETYHITaFIDLTEHüTYmaTEX[Eg_HTKETIHDh[FTEHNE÷DaaIHkGEHEDFKGEDaTLHST÷ûFKIL[IHmTX[Y÷F_HXD]HUGIhD[HXKTIT fTIFaKVWIFT_HZTYKZWTYTHlTgKGEHMDIDVWIFDEIHTKETLHET[HTEFIFDEXTETEHOFDDFIgTmKaXTHimTYaKT]_HXDIHE[EHKEHkGaaTYHOG[kTYûEKFûFHimTYHITKETE ýETYgKTYTKVWF[LHkTY÷igTEH[EXHKWEHDEHD[IaûEXKIVWTHMGEeTYETHkTYWöhTYEHhGEEFTl üGEHXTYHQTYYDIITHXTIHPGFTaIHlTEDKIIDEVTHgTEKT]THKVWHTKETEHZDFWTFKIVWTEHOGEETE[EFTYgDEglHmTKHXTYHøDWYFHKEHXKTHOFDXFHWDmTEHfKYHTKETHFGFDa kTYXGYYFT_HkGEHODEXXiETEHX[YVWeGgTETHOFTZZTHX[YVWR[TYF_HDmTYHKVWH÷iWaTHLKVWHfGWaHKEHXTYHúiIFTlHýKEHgYD[WDDYKgTYHUDEEHLKF IVWDY÷gTIVWEKFFTETYHRDITHmTGmDVWFTFHLKVWHKEFTEIKklHSDEEHhGLLFHTYHDEHLTKETEHQKIVWlHýYHWDmTHaDEgTHKEHST[FIVWaDEXHgTaTmFH[EXHhTEETHLTKE \TIKVWFHD[IHXTLHøTYEITWTElHýYHIFTaaFHIKVWH[EFTYHXTLHRDLTEHÿTY[IhKDEHkGYH[EXHgKmFHIKVWHXDLKFHDaIHNYLTEKTYHe[HTYhTEETEl úKYHIZYTVWTEHTKETHúTKaTHimTYHXKTHþ[IFûEXTHD[÷HXTLHfTIFaKVWTEH\TgTE[÷TY_HfGHTIH;HEDVWHÿYGhaDLDFKGEHXTYHjEDmWûEgKghTKFHXTYHXGYFKgTE IiXhD[hDIKIVWTEHlTZ[maKhTEH;HXTEHVWYKIFaKVWTEHNYLTEKTYEHgTa[EgTEHfDY_HKWYTHDITYmDKXIVWDEKIVWTEHRDVWmDYEH[EXHøTKEXT_HXKTHIKVWHe[L IVWKKFKIVWTEHùIaDLHmThTEETE_HD[IHXTYHDmI[YXTEHý6haDkTHRDgGYE9HMDYDmDgWHe[HkTYXYûEgTEH[EXHTKEHøiE÷FTaHXTYHlTZ[maKhHkGEHmDh[HLKaKFûYKIVWHe[ Ghh[ZKTYTElH?WETHY[IIKIVWTHúD÷÷TEWKa÷THfûYTHTKEHIGaVWTYHýY÷GagHhD[LHLögaKVWHgTfTITElHOTWYHkKTaHkTYf[EXTYaKVWTYHfDYHXKTHQDFIDVWT_HfKTHKVW ITKETYeTKFHDEH?YFH[EXHOFTaaTHKEHOFTZDEDhTYFH÷TIFIFTaaTEHhGEEFT_HXD]H÷DIFHIûLFaKVWTH5TmTEILKFFTaH[EXH\TmYD[VWIDYFKhTaHXTIHFûgaKVWTEH5TmTEIH; KEha[IKkTHQGKaTFFTEZDZKTYH;HkGEHXTEHU[aaDWIHKEHQTWTYDEHDEHXKTHNYLTEKTYHgTaKT÷TYFHf[YXTEl SDIH7\YG]THOZKTa8H[LHXKTHN[ImT[F[EgHXTIHýYXöaIHkGEHUDEg9IVWaDhHKIFHKEHkGaaTLH\DEgTlHSTYHNYLTEKTYHkTYI[VWF_HLKVWHKEHTKEHTEXaGITI \TIZYûVWHimTYHXTEHgT÷DaaTETEHÿTFYGaT[LZYTKIH[EXHXKTHETgDFKkTEHøGagTEHXKTITYHmDKIITH÷iYHXKTHTWYgTKeKgTEHÿaûETHXTIHÿYûIKXTEFTEHRDIDYmD4TfHe[ kTYfKVhTaElHýYIFHXKTHýKE÷iWY[EgHXTYHET[TEHRDFKGEDafûWY[EgHQTEgTHWDmTHTKEHfTEKgHOFDmKaKFûFHgTmYDVWFlHùVWHkTYfTKITHÿTY[IhKDEHXDYD[÷_HXD]HXKT üTYWûaFEKIITHKEHMDIDVWIFDEH;HkTYgaKVWTEHLKFHXTEHþ[IFûEXTEHDEHXTYHhD[hDIKIVWTEH\TgTEhiIFTHXTIHMDIZKIVWTEHUTTYIH;HgTYDXTe[HKX9aaKIVWHfKYhTEl SGYFHWDFHTmTEHEGVWHTKEHúD÷÷TEgDEgHefKIVWTEH\TGYgKTEH[EXHl[]aDEXH[LHXKTHET[HgTgYiEXTFTHUKEK^lTZ[maKhHOiXGIITFKTEHIFDFFgT÷[EXTElHùE QIVWTFIVWTEKTEHgKmFHIKVWHXTYHXGYFKgTHUDVWFWDmTYHMDX9YGfHDaIHe[kTYaûIIKgTYHüTYmiEXTFTYHUGIhD[I_HIFTWFH4TXGVWHKLHmTgYK÷÷_HITKETHN[FGEGLT lTZ[maKhHkGEH\YGIE9_HXKTHEGLKETaaHKEHXTYHl[IIKIVWTEHøöXTYDFKGEHkTYmaTKmF_HKEHTKETHKIaDLKIVWTHlTZ[maKhHI[KHgTETYKIHe[HkTYfDEXTaEl ùLHfKEeKgTEHùEg[IVWTFKTE_HgaTKVWHETmTEDE_HgTWTEHFûgaKVWHmGLmTEHWGVW_H[EXHLKFHmöITEHNWE[EgTEHmaKVhFHúaDXKLKYHÿ[FKEHD[÷HXDIHQTYYKFGYK[L kGEHSDgTIFDE_HfGHXDIHþDYTEYTKVWHKLHET[EeTWEFTEH`DWYW[EXTYFHXYTK]KgH`DWYTHaDEgHMYKTgHgT÷iWYFHWDFFT_H[LHXTEHKIaDLKIVWHKEIZKYKTYFTEHN[÷IFDEX XTIHùLDLHOVWDLKaHEKTXTYe[hûLZ÷TElHSGYFHIZiYFHLDEHmTYTKFIHTKEHgT÷ûWYaKVWTIHmYGXTaElHSKTITHþGETHKIFHLKYHLKEXTIFTEIHTmTEIGHkTYFYD[FHfKTHXTL gTIVWfûFeKgTEHNYLTEKTY_HXTIITEHhGLLTYeKTaaTHùEFTYTIITEHIKVWHkTYL[FaKVWHKEETYWDamHXTIHSYTKTVhIHýYKfDE_HúDIWKEgFGE_HQTaHNkKkH[EXHUGIhD[ mTfTgTEl ùEefKIVWTEHIKEXHXKTHKEFTYEDFKGEDaTEHSagKgDEFTEHXDLKFHmTIVWû÷FKgF_HIKVWHKLHjLhYTKIHkGEHNhFD[HXTEHlDEgHDme[aD[÷TElHNLHIVWETaaIFTEHWDmTE EDFiYaKVWHXKTHDLTYKhDEKIVWTEHU[aFKIHDgKTYF_HDmTYHD[VWHXTYHMYTLaHkTY÷igFHEGVWHimTYHTYWTmaKVWTHSY[VhLKFFTa_H[EXHXKkTYITHT[YGZûKIVWT \TITaaIVWD÷FTEHkTYI[VWTE_HmTIVWTKXTETYTH7CaDKLI8HDme[IFTVhTElHUKFHfDVWITEXTLHNYgfGWEHmaKVhTEHIKTHDaaTHD[÷HXDIHI9IFTLDFKIVWTHüGYXYûEgTE XTYHIFDDFaKVWTEHýETYgKThGEeTYETHXTYHüGahIYTZ[maKhHCWKEDl UKEXTIFTEIHTmTEIGHkTYfGYYTEHL[FTFHXTYHúTFFIFYTKFH[LHXTEHmD[H[EXHXTEHüTYaD[÷HXTYHÿKZTaKETIHDE_HkTYI[VWTEHXKTHjONHXGVWHLKFHDaaTEHUKFFTaE [EXHmTDVWFaKVWTLHýY÷GagHXDIH7IVWfDYeTH\GaX8HXTIHhDIZKIVWTEHlD[LIH[EFTYHjLgTW[EgHY[IIKIVWTEHQTYYKFGYK[LIHX[YVWH\TGYgKTEH[EXHXKTHQiYhTK DEHXTEHUKFFTaLTTYWD÷TEHCT9WDEHe[HZ[LZTElHSKTHlTgKTY[EgHkGEHNEhDYDHkTYIVWD÷÷FHIKVWHe[IûFeaKVWTHQYiLZ÷THX[YVWHTKETH5TKF[EgHEDLTEI 7RDm[VVG8_HXKTHimTYHXTEHmDahDEHkTYaD[÷TEHfiYXTl SKTHl[IITEH÷GYXTYEHKWYTYITKFIHXKTHZYû÷TYTEFKTaaTHR[Fe[EgHKWYTYHFYDXKFKGETaaTEHS[YVWgDEgIIFDFKGEHRGfGYGIIK4IhHDEHXTYHUiEX[EgHXTIHSGE_ fûWYTEXHKEHDaaTYHSKIhYTFKGEHVWKETIKIVWTHNYmTKFIhGaGEETEHKEHlThGYXeTKFHKWYTHlGWYTHkTYaTgTE_H[LHTKETHüTYmKEX[EgHe[HKWYTLHTKgTETE üTYIGYg[EgII9IFTLHKEHGKE4KDEgHWTYe[IFTaaTElHSKTITIHgDEeTH\TfKYYHkGEH5TKF[EgTE_Hþ[aKT÷TYDEaDgTEH[EXHÿKZTaKETIHkTYXKVWFTFHIKVWHDaaLûWaKVWHe[ TKETLHgGYXKIVWTEHMEGFTE_HDmTYHhTKEHNaT6DEXTYHKIFHKEHOKVWF_HXTYHmT÷ûWKgFHfûYT_HKWEHLKFHTKETLHPKTmHe[HX[YVWFYTEETEl ùVWHmKEH÷YGW_HDaIHXTYHNYLTEKTYHIKVWHkTYDmIVWKTXTFH[EXHKVWHmTKLH7O[EXGfETY8HLTKETEHTKgTETEH\TXDEhTEHEDVWWûEgTEHhDEElHNEHXKTITL û[]TYIFTEHüGYZGIFTEHXTYHPDamKEITaHUDEg9IVWaDhHIFTaaFHIKVWHEûLaKVWHXKTHøYDgT_HfGHNIKTEHD[÷WöYFH[EXHfGHý[YGZDHmTgKEEFlHUKYHhaKEgFHEGVWHXTY N[IY[÷H\TETYDaHXTH\D[aaTIHKEHXTEH?WYTE_HXTYH>dBHHmTKHITKETLHOFDDFImTI[VWHKEHXTYHOGf4TF[EKGEHTKETEHQGDIFHD[÷HXKTHýKEWTKFHý[YGZDI D[IgTmYDVWFHWDFFT_HD[÷H7aOý[YGZTHXTHaONFaDEFKR[THTHaO?[YDa8_HTKETHøGYL[aKTY[Eg_HXKTHXKTHXT[FIVWTEHSKZaGLDFTEHkTYf[EXTYFHD[÷WGYVWTEHaKT]l úTYHmTKHhaDYTYHOKVWFHXTEHTEXaGITEHPöWTEe[gHXTIHjYDa_HXTYHIKVWHKEHIDE÷FTEHúTaaTEHkGEHRGYXHEDVWHOiXHXDWKEeKTWF_HD[IHXTYHPöWTHXTI øa[geT[gIHgTL[IFTYFHWDF_HhDEEHKWEHIVWfTYaKVWHDaIHIVWDY÷THQYTEE[EgIaKEKTHefKIVWTEHXTEHMGEFKETEFTEHKXTEFK÷KeKTYTE_HTmTEIGfTEKgHfKTHXTE mTIVWTKXTETEHøa[]HjYDa_HXTYHIKVWHmTKH\[Y9TfHKEHXTEHEöYXaKVWTEHQTKaHXTIHMDIZKIVWTEHUTTYTIHTYgKT]FlHNEHXKTITYHOFTaaTHgYTK÷FHIGgDYHXKT imTYfKTgTEXHDIKDFKIVW^KIaDLKIVWTHlTZ[maKhHMDIDVWIFDEHD[÷HTKEHQTYYKFGYK[LHimTY_HXDIHXTEHN[ILD]TEHmD9TYEIHTEFIZYKVWFH[EXH;HYTKE gTGgYDZWKIVWH;Hý[YGZDHe[gTYTVWETFHfTYXTEHLi]FTlHùEHNhFD[HKIFHLDEHkGEHXTYHUiEX[EgHXTYHúGagDH[EXHXTLHPD÷TEHNIFYDhWDEHEKVWFHIGEXTYaKVW fTKFHTEF÷TYEFl UKYHhGLLFH÷aiVWFKgHXTYH\TXDEhTHDEHTKETEHTEF÷TYEFTEHüTYfDEXFTE_HXTYHDaIHIGgTEDEEFTYH7\GaX÷DIDE8HKLHSYKFFTEHlTKVWHMDYYKTYTHgTLDVWFHWDFFT [EXHD[÷HXTLHPöWTZ[EhFHXTIHPKFaTYIVWTEH\Yö]TEfDWEIHLTKETLHüDFTYHIFGaeHkTYhiEXTFHWDFFT_HTYHITKHmTYTKFIHe[LHXT[FIVWTEH\G[kTYET[YHkGE NIFYDhWDEHTYEDEEFHfGYXTElHSDIHfDYHe[HXTLHþTKFZ[EhF_HDaIHLDEHKEHmTYaKEHEGVWHXDkGEHFYû[LFT_HLKFHXTYHúTWYLDVWFHKEHTKETYHgTfDaFKgTE þDEgTEmTfTg[EgHmKIHe[HXTEHýYXöa÷TaXTYEHkGEHmDh[HKEHNITYmDKXIVWDEHkGYe[IFG]TEl
SDIH\TIZTEIFHXTYH\GaXTETEHPGYXT
ùEHXKTITLHTEXaGITEHlD[LHGWETH÷TIFTHMGEF[YTEHWDFHIKVWHTKEHMDZKFTaHúTaFgTIVWKVWFTHDmgTIZKTaF_HXDIHKEHXTEH\TIVWKVWFIDEEDaTEHXTIHúTIFTEIHhD[L
TYfûWEFHfKYXlHúTYHfTK]HIVWGE_HXD]HmDF[_HXTYHýEhTaHSIVWKEgKIHMWDEI_HEDVWXTLHTYHXKTHY[IIKIVWTEHøiYIFTEFiLTYH?IFT[YGZDIH[EFTYfGY÷TEHWDFFT_ ITKETHPD[ZFIFDXFHODYDK4_HkGEHfGHD[IHTYHXKTHME[FTHimTYHITKEHKLLTEITIHùLZTYK[LH÷iWYFT_HZYûeKIHDEH4TETLHÿ[EhFHXTIHúGagD^j÷TYIHTYYKVWFTFHWDFFT_ fGHIKTmTEW[EXTYFH`DWYTHIZûFTYHXKTHlTIFTHXTYHBlHNYLTTHXTIHXT[FIVWTEH\TETYDaHÿD[a[IHIKVWHXTYHlGFTEHNYLTTHTYgTmTEHL[IIFTEAHýmTEIGfTEKg XiY÷FTHmThDEEFHITKE_HXD]HXKTHFDFDYKIVW^LGEgGaKIVWTHüGYWTYYIVWD÷FHXTYH7\GaXTETEHPGYXT8_HXKTHmKIHKEHXKTHOiLZ÷THXTIHWT[FKgTEHmTaDY[IHYTKVWFT_ efDYHX[YVWHTKETEHOKTgHXTIHY[IIKIVWTEH\YG]÷iYIFTEHSLKFYKHSGEIhGKHgTIVWfûVWF_HDmTYHTYIFHTEXgiaFKgHeTYIVWaDgTEHf[YXT_HDaIHD[IHXTLHWT[FKgTE jImThKIFDEHXTYHIVWYTVhaKVWTHýYGmTYTYHQDLTYaDEHXTEHaTFeFTEH\YG]^MWDEHkGEHODYDK4HQGVWFDL9IVWHKEHTKETYHTEXaGITEHPTFe4DgXHmTef[EgTEH[EX XTIITEHúGagD^øTIF[EgHeTYIFöYFHWDFFTl ýYIFH[LHXKTHUKFFTHXTIHITVWeTWEFTEH`DWYW[EXTYFIHf[YXTHl[]aDEXHkGLHNaZFYD[LHXTIHQDFDYTE4GVWIHTYaöIF_HDaIHùfDEHùül_HgTEDEEFHXTY OVWYTVhaKVWT_HXKTHKIaDLKIVWTHPGVWm[YgHMDeDEHDEHXTYHUKFFaTYTEHúGagDHIFiYLFTH[EXHefTKH`DWYTHIZûFTYHD[VWHXTLHFDFDYKIVWTEHMWDEDFHkGE NIFYDhWDEHXTEHQGXTIIFG]HkTYITFeFTlHUKFHXTYHe[IûFeaKVWTEHýYGmTY[EgHXTIHMWDEDFIHOKmKYHTYö÷÷ETFTHùfDEHùülHXTLHY[IIKIVWTEHUDVWFIFYTmTEHXDIHQGY KEHXKTHQKT÷TEHXTIHIKmKYKIVWTEHO[mhGEFKETEFIlHNLHýEXTHTKETYHmTKIZKTaaGITEHý6ZDEIKGEHTYYTKVWFTEHXKTHMGIDhTEHXTIHþDYTEHXKTHúTIFhiIFTHXTI ÿDeK÷KIVWTEH?eTDEI_HfGHIKTH;HD[÷HTKETLHQTYYKFGYK[L_HXDIHIKTHXTYHgTIVWfûVWFTEHEKEg^S9EDIFKTHCWKEDIHTEFYKIITEHWDFFTEH;HXKTHøTIF[Eg úaDXKfGIFGh_He[HXT[FIVWH7mTWTYYIVWTYHXTIH?IFTEI8_HgYiEXTFTEl jLHIKVWHXTYHN[÷IûIIKghTKFH[EXHXTYHNELD][EgHXTYHmG4DYTE_HXTYHLûVWFKgTEHNYKIFGhYDFKTHXTIHþDYTEYTKVWTI_He[HTYfTWYTE_HWDFFTHIKVWHùfDEHXTY OVWYTVhaKVWTHmTLiWF_HTKETEHmTDVWFaKVWTEHQTKaHXTIHFDFDYKIVWTEHNXTaIHe[LHVWYKIFaKVW^GYFWGXG6TEH\aD[mTEHe[HmThTWYTE_HIKVWHKWYTYH5G9DaKFûFHe[ kTYIKVWTYEH[EXHXKTITHMGEkTYFKFTEHe[YHkTYaû]aKVWIFTEHOFiFeTHXTIHQWYGETIHe[HLDVWTElHOTWYHmDaXH÷DEXHTKETHgDEeTHOTYKTHkGEHIaDfKIVW^ LGEgGaKIVWTEHøDLKaKTEkTY÷aTVWF[EgTEHIFDFF_HXKTHmKIHKEHXKTHWöVWIFTEHMYTKITHXTIHMYTLaHYTKVWFTEl OGHIGaaHXTYHFYDgKIVWTHjI[YZDFGYHmGYKIH\GX[EGfHYTKETYHQDFDYHgTfTITEHITKE_H[EXHXKTHU[FFTYHÿTFTYIHXTIH\YG]TE_HTKETHRDY9IVWhKED_HTEFIFDLLFT TmTE÷DaaIHTKETYHDEgTITWTETEHOKZZTHXTYHLGEgGaKIVWTEH?mTYIVWKVWFlHUDEHmYD[VWFHE[YHXKTHRDLTEHlDVWLDEKEGfHGXTYH`[II[ZGfHe[HeKFKTYTE_H[L IKVWHXTYHTFWEKIVWTEH[EXHh[aF[YTaaTEHS[YVWXYKEg[EgHmTf[]FHe[HfTYXTE_HXKTHXTEH÷YDEeöIKIVWTEHUDYR[KIHXTHC[IFKETHEGVWHKLHET[EeTWEFTE `DWYW[EXTYFHe[HXTYHøTIFIFTaa[EgHkTYaTKFTFTKH7\YDFFTeHaTHl[IITHTFHkG[IHFYG[kTeHaTHQDYFDYTH;HMYDFeFHXTEHl[IITEHDE_H[EXHKWYH÷KEXTFHXTEHQDFDYTEl8 SKTHL9IFKIVWTHüGYIFTaa[EgHXTIHeDYKIFKIVWTEHl[]aDEX_HDaIHSYKFFTIHlGLHXKTHRDVW÷GagTHXTIHm9eDEFKEKIVWTEHlTKVWTIHDEe[FYTFTE_HfKTHD[VWHXTY hD[LHfTEKgTYHIDhYDaTHNEIZY[VWHXTYHOGf4TF[EKGE_H÷iYHXDIHfTaFfTKFTHÿYGaTFDYKDFHTKEHÿDYDXKTIHXTYHúTYhFûFKgTEHe[HIVWD÷÷TE_HIKEXHfKTHTKEHúDWE eTYIFGmTElHùLHúTIFTEHXTIHlTKVWTIH[EXHKLHMD[hDI[IHKIFHl[]aDEXHWT[FTHD[÷HXKTHXTLiFKgTEXTEHQTYYKFGYKDakTYa[IFTHXTIHøYKTXTEIHkGEHmYTIF^5KFGfIh e[YiVhgTfGY÷TE_HXTYHXTEHmGaIVWTfKhKHEGVWHe[HmTgKEEHXTIH`DWYTIH>d>FHkGEHXTLHTmTE÷DaaIHLGYKm[EXTEHMDKITYYTKVWHúKaWTaLIHùùlHD[÷gTef[EgTE f[YXTl ùEHøTYEGIFHWDFHXKTHVWKETIKIVWTHüGahIYTZ[maKhHXTEHgKgDEFKIVWTEHY[IIKIVWTEHRDVWmDYE_HXTYH[LH>dccHKLHmTgYK÷÷HIFDEX_HXTLHlTKVWHXTYHUKFFT fTKFTYTHYKTIKgTH5DEX÷TFeTEHe[HTEFYTK]TE_HDaIHefTKFTHúTaFLDVWFHmTYTKFIHimTY÷aigTaFlHSTYHmTIGYgFTHmaKVhHUGIhD[IHYKVWFTFHIKVWHDmTYHkGYHDaaTLHD[÷ XDIHKIaDLKIVWTHN[÷mTgTWYTE_HTKETHFiYhKIVW^LGEgGaKIVWTHúKTXTYgTm[YF_HXKTH[EFTYHmTY[÷[EgHD[÷HXTEHPTKaKgTEHMGYDEHXiIFTYTHýYKEETY[EgTEHDEHXDI 7QDFDYTE4GVW8HkGEHTKEIFHKEHýYKEETY[EgHY[÷Fl ùEHITKETYHùLLGmKaKFûFHKIFHXDIHMDIZKIVWTHUTTYHe[HLTKETEHøi]TEHKEHIVWfDYeTLHUDYLGYHTYIFDYYFlHNLHlDEXTHXKTITIHe[ETWLTEXHIFYDFTgKIVW fKVWFKgTEHmKEETELTTYTIH÷ûaaFHLKYHTKEH\TIZYûVWHTKE_HXDIHKVWHKLHúKEFTYHbccDHLKFH`TfgTEKHÿYKLDhGfHKEHXTIITEHZYDVWFkGaaHDaFLGXKIVWTLHÿDaDIF XTYHùEX[IFYKT^H[EXHPDEXTaIhDLLTYHkGEHUGIhD[H÷iWYFTlHÿYKLDhGfHfDYHhTKEHmTaKTmKgTYHWGWTYHø[EhFKGEûYHXTIHOGf4TFIFDDFTIlHNaI ÿYTIIThGYYTIZGEXTEFH[EXH7N[÷haûYTY8HWDFHTYHD[÷gY[EXHITKETYHZYG÷[EXTEHýY÷DWY[EgHXTIH?YKTEFIH[EXHITKETYHDYDmKIVWTEHOZYDVWhTEEFEKIITHITamIF mTKHITKETEHDLTYKhDEKIVWTEH\TgTEIZKTaTYEHPGVWDVWF[EgHgTEGIITElHOZûFTYHfDYHTYH[EFTYH`TaeKEHkGYimTYgTWTEXHe[LHUKEKIFTYZYûIKXTEFTEH[EX XDEEHe[LHGmTYIFTEHCWT÷HXTIHN[IaDEXI^RDVWYKVWFTEXKTEIFTIHmTY[÷TEHfGYXTEl SKTITYHý6ZTYFTHf[]FT_HXD]HKEETYWDamHXTYHKLLTYHEGVWHgTfDaFKgTEHY[IIKIVWTEHøöXTYDFKGEHTFfDHbDHUKaaKGETEHU[IaKLTHaTmFTE_HXTYTEHEDFKGEDaT NEIZYiVWTHimTYHh[YeHGXTYHaDEgH;He[LDaHKEHXTEHN[FGEGLTEHlTZ[maKhTEHQDFDYIFDEHDEHXTYHúGagDH[EXHmDIVWhGYFDIFDEHDLHjYDaH;HX[YVWHXKTHIKVW DmeTKVWETEXTHYTaKgKöITH7RDWXD8He[IûFeaKVWTHùLZ[aITHTYWDaFTEHfiYXTElHOVWGEHIDLLTaFTEHIKVWH4DHXKTH÷YGLLTEHÿKagTYgY[ZZTEHDEHXTEHl[KETE kGEHmGagDYHDEHXTYHúGagD_HfGHXTYHLDgWYTmKEKIVWTHúTaFYTKITEXTHùmEHmDF[FDHKLHkKTYeTWEFTEH`DWYW[EXTYFHTKEHmaiWTEXTIHKIaDLKIVWTIHOFDDFIfTITE kGYgT÷[EXTEHWDFFTl ùLHMD[hDI[IHfDYHFYGFeHXTYH\T÷igKghTKFH4TETYHU[÷FKI_HXKTHkGEHUGIhD[HmTIFDaaFH[EXHimTYfDVWFHf[YXTE_HXTYHgTWTKLTHú[EIVWHe[HIZiYTE_ efKIVWTEHSDgTIFDEHDLHMDIZKIVWTEH[EXHNmVWDIKTEHDLHOVWfDYeTEHUTTYHTKETHNYFHEGYXhD[hDIKIVWTIHMDaK÷DFHe[HgYiEXTElHùEHMDeDEHfKTXTY[L föamFTHIKVWHXKTHYKTIKgTHmaD[THM[ZZTaHXTYHET[TEHUGIVWTTHM[aHOWDYK÷HWGVWHimTYH4TETEHgGaXTETEHþfKTmTaFiYLTEHXTIHCWYKIFTEF[LI_HXKTHmKIaDEg XTEHXGYFKgTEHMYTLaHfTKFWKEHD[÷aT[VWFTEHaKT]TElHSTYHDLFKTYTEXTHùLDLHWDFFTHLKYHgTIFDEXTE_HXD]HTYHITKETHYTaKgKöITEHOF[XKTEHKEHUTXKED_HKE OD[XK^NYDmKTE_HDmIGakKTYFHWDFFT_HDLH\YDmHXTIHÿYGZWTFTE_HfGHIKVWHXKTH[EX[aXIDLIFTHøGYLHXTIHhGYDEKIVWTEHø[EXDLTEFDaKIL[IH;HD[÷HXTE YKTIKgTEHSaYTKVWF[LHXTIHMöEKgYTKVWIHgTIFiFeFH;HTKETHYDXKhDaTHUKIIKGEKTY[EgHIGfKTHXKTHgTeKTaFTHýYeKTW[EgHe[LHYTaKgKöITEHøDEDFKIL[IHD[÷HKWYT gYiETEHøDWETEHgTIVWYKTmTEHWDFFTlHSKTHfDWWDmKFKIVWTEHÿYTXKgTYHIKEXHKEefKIVWTEHkGEHmGIEKTEHmKIHEDVWHùEXGETIKTEHD[IgTIVWfûYLFl ÿYKLDhGfHIDWHWKEgTgTEHhTKETEH\Y[EX_HIKVWHXTYHkTYhYDLZ÷FTEHNEgIFZI9VWGITHDEe[IVWaKT]TE_HXKTHKEHNLTYKhDH[EXHý[YGZDHXDIHüTYWûaFEKIHe[Y ùIaDLKIVWTEHlTZ[maKhHùYDEHmTaDIFTFTlHúDIHl[]aDEXHe[HmT÷iYVWFTEHWDFFT_HfDYHXDIH:mTYgYTK÷TEHXTIHI[EEKFKIVWTEHlDXKhDaKIL[IHD[÷HXKTHýYmaDEXT XTYH÷YiWTYTEHOGf4TF[EKGEHKEHþTEFYDaDIKTE_HTKETHkTYeTYYFTHøGYLHXTYHODaD÷K9D_HXKTHIFûEXKgHDEHmGXTEHgTfDEElHSGYFHgTWöYFTH4TXGVWHaTXKgaKVWHXKT IiXhD[hDIKIVWTHlTZ[maKhHNITYmDKXIVWDEHLTWYWTKFaKVWHXTYHIVWKKFKIVWTEH\aD[mTEIYKVWF[EgHDElHSKTHIZûFTYTEHOD÷DfKXTE^OVWDWIHfDYTEHTI_HXKTHKL ITVWeTWEFTEH`DWYW[EXTYFHXKTHIVWKKFKIVWTHN[IaTg[EgHXTYHhGYDEKIVWTEH5TWYT_HXKTH7OVWKDFHNaK8_He[YHOFDDFIYTaKgKGEHÿTYIKTEIHXThaDYKTYFTEl OTKFXTLHWDFHIKVWHXKTHTYmKFFTYFTHøTKEXIVWD÷FHe[HXTEHO[EEKFTE_HXKTHITKFHOTaKLHùlHXTEHGILDEKIVWTEHO[aFDEHkGEHùIFDEm[aHDaIHKWYTEHMDaK÷TE DETYhDEEFTE_HIFûEXKgHkTYFKT÷FlHøiYHXKTHYD[WTEHOFTZZTEköahTYH;HITKTEHIKTHE[EHQ[YhLTETEHGXTYHMDIDVWTEH;_HXKTHIKVWHmTKHDaaTYHüTYWD÷F[EgHKL NmTYgaD[mTEHKWYTYHSTYfKIVW^?YXTEHYiWLFTE_HYTVWFgaû[mKgTHNEgTWöYKgTHXTYHO[EEDHe[HITKE_HgDaFTEHXKTHOVWKKFTEHkGEHNE÷DEgHDEHDaIHDmIVWT[aKVWT NmFYiEEKgTHkGLHYTVWFTEHúTgHNaaDWI_HDaIHMTFeTYH[EXH7M[÷÷DY8lHøDaaIHNEWûEgTYHXKTITYHD[÷HXTEHùLDLHNaKH[EXHXKTHeföa÷HùLDLTHgTgYiEXTFTE \aD[mTEIYKVWF[EgHKEHXKTHPûEXTHXTYHRGLDXTEWGYXTEH÷KTaTE_Hf[YXTEHIKTHTEFfTXTYHe[HQGXTHgT÷GaFTYFHGXTYHDaIHOhaDkTEHkTYhD[÷Fl N[IHXKTITLH\Y[EXHWDFHXKTHl[IIKIVWTHøöXTYDFKGEH[EITYTYHQDgTHkGEHTKETLHIVWKKFKIVWHKEIZKYKTYFTEHOFDDFIfTITEHfKTHXTYHùIaDLKIVWTEHlTZ[maKh ùYDEHhTKETEHTYEIFWD÷FTEHhGE÷TIIKGETaaTEHþ[IDLLTEZYDaaHe[HmT÷iYVWFTElHSKTH÷YGLLTEHOVWKKFTEHWKEgTgTEHkTYWDYYTEHKLHPD]HKWYTYHI[EEKFKIVWTE \TgETYH[EXHKEImTIGEXTYTH4TETYHKEHOD[XK^NYDmKTEHDaaTIHmTWTYYIVWTEXTE_HT6FYTLHKEFGaTYDEFTEHOThFTHXTYHúDWWDmKFTE_HXKTHITKFHKWYTLHýEFIFTWTEHKL DVWFeTWEFTEH`DWYW[EXTYFHXKTHPTKaKgFiLTYHXTYH7ÿDYFTKHNaKI8HKEHRTXIVWT÷H[EXHMTYmTaDHWû[÷KgHeTYIFöYTEHaKT]lHSDHD[VWHXKTHQTYYGYKIFTEGYgDEKIDFKGE ýaHEDKXDHKEHXTYHMGYDEXT[F[EgHXTIHúDWWDmKIL[IHf[YeTaF_HTKEHlDXKhDaKIL[I_HXTYHD[VWHD[÷HXKTHQDaTmDEHN÷gWDEKIFDEIHimTYgYTK÷TEHIGaaFT_HhDEEHTI hTKETH\TLTKEIDLhTKFHgTmTEHefKIVWTEH?IDLDHmKEH5DXTEH[EXHITKETEH\T÷GagIaT[FTEHLKFHXTEHU[aaDWIHkGEHQTWTYDElHSKTITYH\TgTEIDFeHIFTKgTYFT
IKVWHIGgDYHEDVWHXTLHKYDEKIVW^KYDhKIVWTEH\Ga÷hYKTgHe[HgaiWTEXTLHPD]l úTEEHDaIGHTKETIHQDgTIHTKETHLKaKFDEFTHI[EEKFKIVWTHøGYLHXTIHùIaDLHD[÷HjImThKIFDE_HMKYgKIFDE_HQ[YhLTEKIFDEHimTYgYTK÷TEHIGaaFT_HfG÷iYHTKEHkGE XTEHQDaTmDEHmTWTYYIVWFTIHN÷gWDEKIFDEHXKTHKXTDaTHN[IgDEgImDIKIHmöFT_HXDEEHhöEEFTHl[]aDEXHe[LKEXTIFHD[÷HTKEHIFKaaIVWfTKgTEXTI ýKEkTYETWLTE_HfTEEHEKVWFHD[÷HDhFKkTHMGLZaKeTEIVWD÷FHLKFH4TETLHMWGLTKEK^OFDDFHe[YiVhgYTK÷TE_HXTYHIGgDYHXTEHNLTYKhDETYEHe[HmTgKEEHXTY ?ZTYDFKGEH7ýEX[YKEgHøYTTXGL8HTKETHaGVhTYTHþ[IDLLTEDYmTKFHgTgTEHXKTH7MGYDEIVWiaTY8H[EXHXTYTEHX[LZ÷TEH?mIh[YDEFKIL[IHDEgTmGFTE WDFFTl øiYHUGIhD[HfûYTHTKETHKYDEKIVWTHNFGLmGLmTHfTEKgTYH÷[YVWFTYYTgTEXHDaIHXDIHE[haTDYTHÿGFTEFKDa_HXDIHmTYTKFIHKEHXTEHNYITEDaTEHÿDhKIFDEI aDgTYFlHOGaaFTHIKVWHXGYFHTKETIHQDgTIHXDIHmT÷iYVWFTFTHCWDGIHTKEIFTaaTEH[EXHùIaDLDmDXHXKTHMGEFYGaaTHkTYaKTYTE_HXDEEHhöEEFTEHIKVWHkTY÷TKEXTFT øYDhFKGETEHXTYHNFGLmGLmTHDaIH[aFKLDHYDFKGHKWYTYHN[ITKEDEXTYITFe[EgTEHmTXKTETElHSTYHúTIFTE_HIGHWDFFTHKVWHKEHUGIhD[HTY÷DWYTE_HfKYXHDaIGHD[÷ kGYIKVWFKgTHþ[YiVhWDaF[EgHIFG]TE_H÷DaaIHTYHmTKHXTEHl[IITEHTKETHFDFhYû÷FKgTHjEFTYIFiFe[EgHgTgTEHQTWTYDEHI[VWFH[EXHgTgTEHXKTHDFGLDYT N[÷YiIF[EgHXTIHùYDEHLKFHkTYIVWûY÷FTEHODEhFKGETEHGXTYH;HD[÷HSYûEgTEHùIYDTaIH;HIGgDYHLKFHLKaKFûYKIVWTEHÿYûkTEFKkIVWaûgTEHkGYgTWTEHIGaaFTl < STYHfTKFgTWTEXHIûh[aDYKIKTYFTHúTIFTEHKIFHG÷÷TEmDYHEKVWFHLTWYHKEHXTYH5DgT_HXKTITHFKT÷gYTK÷TEXTEHL9FWKIVWTEH\TgTEIûFeTHXTIH?YKTEFIHe[ mTgYTK÷TElHúKTHYTDaHIKTHIKEX_HhGEEFTHKVWHEGVWHKLHNZYKaHXTIH`DWYTIHbccFHTY÷DWYTE_HDaIHKVWHEDVWHTKETLHmTI[VWHmTKHOVWTKhWHRDmKaHEDG[R_HXTL ?mTYmT÷TWaIWDmTYHXTYHIVWKKFKIVWTEHPKem[aaDWHKLHOiXaKmDEGE_HTKETEHITKETYHTEgTYTEHUKFDYmTKFTYHe[HTKETYHD[÷IVWa[]YTKVWTEHN[IIDgTHmTfTgFTlHSKT I[EEKFKIVWTHUTWYWTKFHKEETYWDamHXTYHKIaDLKIVWTEHjLLDHWDmTHXKTHIVWKKFKIVWTH\aD[mTEIgTLTKEIVWD÷F_HXTYTEHUKaKe_HXKTHPKem[aaDW_HIKVWHKLH`DWYHbccB KLHOiXaKmDEGEHKLHMYû÷FTLTIITEHLKFHùIYDTaHD[÷HIGHITEIDFKGETaaTHúTKITHmTfûWYFHWDFFT_HDaIH7ODX[HNaaDW8_HDaIHøTKEXH\GFFTI_HmTeTKVWETFH[EXHLKF XTLHøa[VWHXTIH7QDh÷KY8HmTaTgFlHSKTHNEgTWöYKgTEHXTYHVWYKIFaKVWTEHMGE÷TIIKGETE_HIGH÷iWYFTHXTYH4[EgTHjEmThDEEFTHD[I_HXKTHKLLTYWKEHXGVWHaD[F MGYDEHXTYH7øDLKaKTHXTIHm[VWTI8HDEgTWöYTE_HgTEöIITEHmTKHXTEHYTVWFgaû[mKgTEHO[EEKFTEHWöWTYTIHNEITWTEHDaIH4TETH\aD[mTEImYiXTY_HXKTHIKVW [ELKFFTamDYHEDVWHXTLHQGXHXTIHÿYGZWTFTEHKEHTKETEHýYmIFYTKFHkTYfKVhTaFHIDWTE_HXTYHmKIHWT[FTHDEXD[TYFl SKTHÿGaKFKhTYHXTIHúTIFTEI_HXKTHe[LDaHKEHN÷gWDEKIFDEHXTEHYTaKgKöITEHCWDYDhFTYHXKTITIHNmfTWYhDLZ÷TIHDLHPKEX[h[IVWHköaaKgHe[HKgEGYKTYTE IVWTKETE_HIGaaFTEHTKETHýYhTEEFEKIHmTWTYeKgTE_HXKTHXTYHUD4GYHCWDYaTIHXTH\D[aaTHmTKHITKETYHüTYITFe[EgHKEHXDIHXDLDaKgTH÷YDEeöIKIVWT UDEXDFIgTmKTFHO9YKTE^5KmDEGEHfKTH÷GagFH÷GYL[aKTYFTKH7üTYIHaO?YKTEFHVGLZaKR[J_H4THZDYFDKIHDkTVHXTIHKXJTIHIKLZaTI8_H[EXHITKEHTKgTETI jEkTYIFûEXEKIHgTgTEimTYHXTEHU9FWTEHXTIH?YKTEFIHgTIFDEXl
MYKTgIIZKTaTHXTYHOWDEgWDK^jEKGE ýKEHaTFeFTYHýKEXY[VhHkGEHNhFD[KHüKTYHgYG]÷aûVWKgTHÿGYFYûFI_HXKTH4TfTKaIHTKETHgDEeTHPû[ITY÷DIIDXTHe[XTVhTE_HXKTH7OFYD]THXTYHmTIFTE8lHNEHTYIFTY OFTaaTHIFTWFHEDFiYaKVWHR[YI[aFDEHRDIDYmD4TflHRKVWFHfTKFHXDkGEH÷ûaaFHTKETHNYFHfTK]TYHQTLZTaHKEIHN[gT_HXTYHXTEH\T÷DaaTETEHXTIHMYKTgTI_HDmTYHD[VW DaaTEH?Z÷TYEHXTYHjEFTYXYiVh[EgHgTfKXLTFHKIFlHUDEHfiEIVWFTHIKVW_HûWEaKVWHIVWaKVWFTH[EXHgTIVWLDVhkGaaTHýWYTELûaTYHD[VWHKEHST[FIVWaDEX kGYe[÷KEXTEl ùEHLDEVWTYHPKEIKVWFHWDFHIKVWHXKTHY[IIKIVW^IGf4TFKIVWTHMGaGEKIKTY[EgHXTYHRGYXWûa÷FTHNIKTEIHfTKFH÷GYFIVWYKFFaKVWTYH[EXHZGIKFKkTYHTYfKTITE_HDaI LDEVWTHMYKFKhTYHmTWD[ZFTElHjLHE[YHXKTHYTaDFKkHh[YeTHÿYûITEeHXTYHlGFTEHNYLTTHDLHPKEX[h[IVWHKLHIZûFTEHefDEeKgIFTEH`DWYW[EXTYFHe[ TYfûWETEKHSKTHkTYmiEXTFTEHOFDDFTEHXTYHNFaDEFKIVWTEHNaaKDEeHIKEXHfTKFHXDkGEHTEF÷TYEF_HXKTHýLDEeKZDFKGEHXTYHD÷HgWDEKIVWTEHøYD[HIGHhGEITR[TEF X[YVWe[ITFeTE_HfKTHXDIHXTEHOGf4TFIHKLHüTYm[EXHLKFHXTEHaGhDaTEHhGLL[EKIFKIVWTEHÿDYFTKTEHgTa[EgTEHfDYl OVWGEHDLHOFDXFYDEXHkGEHNhFD[HEKLLFH[EIHXKTHgYG]THOFTZZTHD[÷_H[EXHIKTHaû]FH[EIHEKVWFHLTWYHaGIlHNEHXKTITYHOFTaaTHIGaaFTHLDEHTKETH5DEXhDYFT e[YHPDEXHETWLTEH[EXHLKFHXTLH5KETDaHTKETH\TYDXTHKEHEGYX^EGYXöIFaKVWTYHlKVWF[EgHeKTWTElHSGYFHkTYaû[÷FHEûLaKVWHXKTHû[]TYIFTH\YTEeTHXTY [EDmWûEgKgTEHlTZ[maKhHMDIDVWIFDElH`TEITKFIHXDkGEHmTgKEEFHXKTHl[IIKIVWTHøöXTYDFKGE_H[EXHKLHjLhYTKIHXTYH?YFIVWD÷FH?YFKhHkTYTEgFHIKVWHXDI QTYYKFGYK[L_HXDIHXTYH[ELKFFTamDYTEH?mTYWGWTKFHUGIhD[IH[EFTYIFTWF_HD[÷HTKETEHOVWaD[VWHkGEHefDEeKgHmKIHXYTK]KgHMKaGLTFTYElH`TEITKFIHXDkGE_HDE XTEHIiXaKVWIFTEHN[Iaû[÷TYEHXTIHjYDa^\TmKYgTI_HmTgKEEFHXKTHN[FGEGLTHlTZ[maKhHmDIVWhGYFGIFDEH;H÷YiWTYHIDgFTHLDEHmDIVWhKYKTEH;_HXKTHefDY UKFgaKTXHXTYHl[IIKIVWTEHøöXTYDFKGEHmaTKmF_HDmTYHfDVWITEXTEHNEIZY[VWHD[÷HN[FGEGLKTHTYWTmFlHSKTHF[YhIFûLLKgTHmTköahTY[EgILTWYWTKFHkGE mDIVWhGYFGIFDEHmThTEEFHIKVWHe[LHùIaDLlH?mfGWaHXKTHlTaKgKGIKFûFHWKTYHEKTHD[IgTZYûgFHfDY_Haû]FHIKVWHTKETHRT[mTaTm[EgHXTIHhGYDEKIVWTE \aD[mTEIg[FTIHEKVWFHaT[gETE_He[LDaHXKTHmDIVWhKYKIVWTHPD[ZFIFDXFHj÷DHe[HOGf4TFeTKFTEHDaIHOKFeHXTIHKIaDLKIVWTEHU[÷FKDFIH÷iYHXKTHKEHgDEeHl[]aDEX fTKFHkTYIFYT[FTEHI[EEKFKIVWTEH\aD[mTEIgTLTKEIVWD÷FTEH÷[EgKTYFTlHSDHmDIVWhGYFGIFDEHKLHRGYXGIFTEHKEHXKTHD[FGEGLTHlTZ[maKhHQDFDYIFDE imTYgTWF_HfGHXKTHU[IaKLTHTmTE÷DaaIHTKETHhEDZZTHUTWYWTKFHmKaXTE_HTYIFYTVhFHIKVWHTKEHZGFTEFKTaaTYHKIaDLKIVWTYH\iYFTaHmKIHDEHXKTHUKFFaTYTHúGagD_ XDIHWTK]FHmKIHKEHPTYeaDEXHXTIHT[YGZûKIVWTEHl[]aDEXl MDFWDYKEDHùùl_HXKTH\YG]THgTEDEEF_HXKTHXDIHþDYTEYTKVWHe[LHTYIFTEHUDaHmKIHDEHXTEHlDEXHXTIHMDIZKIVWTEHUTTYTIHD[IgTXTWEFHWDFFT_Hf[YXTHIKVW XTYH÷GYFXD[TYEXTEHL[IaKLKIVWTEHmTaDIF[EgH÷iYHXTEHmTIFDEXHKWYTIHùLZTYK[LIHKEHkGaaTLHjL÷DEgHmTf[]F_HDaIHXTYHüGahIFYKm[EH`TLTa4DE ÿ[gDFIVWGfHIKVWHDaIHþDYHÿTFTYHùùùlHD[IgDm_HMDeDEHTYGmTYFTH[EXHIKVWHmTKHITKETLHøTaXe[gHD[÷HXKTHFDFDYKIVWTEHlTKFTYWGYXTEHXTIHWT[FKgTE mDIVWhGYFGIFDEHIFiFeTEHhGEEFTlH:mTYHXTEHfDaXKgTEHPöWTEeigTEHXTIHjYDaI_H[ELKFFTamDYHDLHlDEXTHkGEHj÷D_Hf[YXTHXTLHL[IaKLKIVWTE \T÷ûWYFTEHÿ[gDFIVWGfI_HXTLHmDIVWhKYKIVWTEHýLKYHODaDfDFH`[aD4Tf_HIVWGEHe[HOGf4TFeTKFTEHTKEHZGLZöITIHlTKFTYIFDEXmKaXHTYYKVWFTFlHýYHfKYX fTKFTYWKEHDaIHRDFKGEDaWTaXHXKTITIHXTEHQDFDYTEHTEgHkTYfDEXFTEHQ[Yh^üGahTIHkTYTWYFl MDFWDYKEDHùùlHfDYHha[gHgTE[g_HKWYTEHL[IaKLKIVWTEHjEFTYFDETEHX[YVWHXKTHOVWD÷÷[EgHTKETYHTKgTETEHgTKIFaKVWTEHSKYThFKGEHKEH?YTEm[Yg TEFgTgTEe[hGLLTE_HfûWYTEXHXYTKH`DWYeTWEFTHIZûFTYHþDYHNaT6DEXTYHùlHXKTHD[]TYGYXTEFaKVWTHmYDkG[YHITKETYHFDFDYKIVWTEHlTgKLTEFTY_HXKTHIKVWHKE XTYHOVWaDVWFHkGEHmGYGXKEGHgTgTEHRDZGaTGEHmTfûWYFHWDFFTE_HLKFHXTYH\TETWLKg[EgHe[LHmD[HTKETYHKLZGEKTYTEXTEHUGIVWTTHKLHPTYeTEHUGIhD[I mTaGWEFTl RDVWHXTYH?hFGmTYYTkGa[FKGEHWDFFTHXTYHKEFTaaThF[TaaTHùEIZKYDFGYHTKETYHFDFDYKIVWTEHúKTXTYgTm[YFHEDLTEIHO[aFDE^\DaK4TfHLKFHþ[IFKLL[EgH5TEKEI kTYI[VWF_HTKETH÷YDgfiYXKgTHO9EFWTITHefKIVWTEHùIaDLH[EXHMGLL[EKIL[IHe[H÷KEXTElHSGVWH`GITZWHOFDaKEHkTY÷igFTHITWYHmDaXHLKFHXTYHKWLHTKgTETE mY[FDaKFûFHXKTHTYmDYL[EgIaGITHþTYIVWaDg[EgHXKTITIHITaFIDLTEHý6ZTYKLTEFIl
<
N[IHXTYHýKEöXT_HXKTHmTKHkKTYeKgH\YDXHPKFeTHZaöFeaKVWHD[÷H÷DIFHkKTYW[EXTYFHUTFTYH[EFTYHXTEHUTTYTIIZKTgTaHDmIKEhF_HeTKVWETEHIKVWHXKTHøöYXTYFiYLT [EXHXKTHKEHIFûEXKgTYHmTfTg[EgHZTEXTaEXTEHÿ[LZTE_H7ýITa8HgTEDEEF_HKEH[EYTgTaLû]KgTEHNmIFûEXTEHDmlHUTEIVWTEHIKEXHhD[LHDEe[FYT÷÷TElHR[Y XKTHøKYLTEIVWKaXTYHXTYHgYG]TEHMGEeTYETHaDIITEHTYhTEETE_HfTYHgTYDXTHe[LHþ[gTHgThGLLTEHKIFlHSKTHCWKETITEHWDmTEHIKVWHG÷÷TEmDYHKLHRGYXTE XTYHUDEg9IVWaDh^PDamKEITaHDLHKEFTEIKkIFTEHTEgDgKTYFlHýKEHXYKEgaKVWTYHüGYIVWaDgHD[IHúDIWKEgFGE_HTKETHÿKZTaKETHefKIVWTEHNhFD[H[EXHmDh[HR[TY X[YVWHXDIHMDIZKIVWTHUTTYHe[HkTYaTgTEH[EXHXDLKFHXTEHY[IIKIVWTEHlKkDaTEHe[IûFeaKVWHe[HmTEDVWFTKaKgTE_HKIFHDEHXTYHkGYIKVWFKgTEHþ[YiVhWDaF[Eg XTIHhDIDVWKIVWTEHÿYûIKXTEFTEHmKIWTYHgTIVWTKFTYFl ùEHNIFDEDHKIFHLDEHIKVWHe[XTLHmTf[]F_HXD]He[HXTEHNEYDKETYIFDDFTEHXTIHMDIZKIVWTEHUTTYTI_HXKTHDEHXTYHSTaKLKFKTY[EgHXTIH4TfTKaKgTE øTIFaDEXIGVhTaIH[EXHXTYHXGYFKgTEH?÷÷IWGYT^øöYXTYDEaDgTEHmTFTKaKgFHIKEX_HD[VWHXKTHùIaDLKIVWTHlTZ[maKhHùYDEH[EXH4TETIHDmI[YXTHOFDDFIHfTITE eûWaTE_HXDIHD[IHXTYH÷YiWTYTEHOGf4TFYTZ[maKhHQ[YhLTEKIFDEHWTYkGYgTgDEgTEHKIFlHOTKFHXTLHQGXHKWYTIHTYIFTE_He[YHÿDYDEGKDHETKgTEXTEHQ9YDEETE R9DeGf_HXTYHIKVWHITamIFHDaIH7Q[YhLTEmDIVWK8_HDaIHPTYYHDaaTYHQ[YhLTETE_HgaGYK÷KeKTYTEHaKT]_HkTY÷igFHTKEHEGVWHmKeDYYTYTYHRDVW÷GagTYHimTYHXKT gTfDaFKgTEH\DIkGYhGLLTEHXKTITYHOFDLLTI÷öXTYDFKGEl ýKETHXTLGgYDZWKIVWTHOFDmKaKIKTY[EgHWDFHIKVWHKEHXKTITLHlD[LHaûEgIFHEGVWHEKVWFHTKEgTIFTaaFlHUKFHN[IEDWLTHkGEHMDIDVWIFDEHIKEXHXKTHXGYF aTmTEXTEHý[YGZûTYHe[HTKETYH[EmTXT[FTEXTEHUKEXTYWTKFHgTIVWY[LZ÷F_HfûWYTEXHXKTHIGgTEDEEFTEH7OVWfDYeTE8H;HMD[hDIKTYH[EXHþTEFYDaDIKDFTEH; fTKFTYWKEHKEHXDIHTKgTEFaKVWTHY[IIKIVWTHMTYEgTmKTFHTKEIFYöLTEH[EXHXGYFHWT÷FKgTE_HYDIIKIFKIVWHLGFKkKTYFTEHþ[IDLLTEIFö]TEHLKFHXTEHe[FKT÷IF KYYKFKTYFTEHOaDfTEHD[IgTITFeFHIKEXlHSDYHDEHgTLTIITEHIZKTaFHXKTHþ[fDEXTY[EgHVWKETIKIVWTYHPûEXaTY_HXKTHefKIVWTEHúaDXKfGIFGhH[EXHOLGaTEIhHXKT UûYhFTHmTWTYYIVWTE_HTKETHYTaDFKkHmTIVWTKXTETHlGaaTlHSKTHlTgKTY[EgHkGEHÿThKEgHfDVWFHXDYimTY_HXD]HXDIHe[YHþTKFH[EgTFYimFTHüTYWûaFEKIHe[ UGIhD[HEKVWFHX[YVWHTKEITKFKgTHüGYFTKaEDWLTHXTYHüGahIYTZ[maKhHgTIFöYFHfKYXl SKTHl[IIKIVWTHøöXTYDFKGEH[EXHXDIHZGIFLDGKIFKIVWTHCWKEDHWDmTEHIKVWHIGgDYHKLHüTYm[EXHLKFHTKETYHNEeDWaHkGEH\jO^OFDDFTEHe[H4TETYH7jEKGE kGEHOWDEgWDK8He[IDLLTEgT÷[EXTE_HXKTH4TEITKFIHXTYHgTLTKEIDLTEHöhGEGLKIVWTEHùEFTYTIITEHD[VWHD[÷HLKaKFûYKIVWTLH\TmKTFHhGGZTYKTYTElHýI gTWFHXKTITEHXKIZDYDFTEHÿDYFETYEHkGYHDaaTLH[LHXKTHúDWY[EgHKWYTYHFTYYKFGYKDaTEHùEFTgYKFûFH[EXH[LHTKETEHgTLTKEIDLTEHMDLZ÷HgTgTEHXTE QTYYGYKIL[I_HIGHWTK]FHTIHfTEKgIFTEIl SKTHUDEökTYHXTYH4TfTKaKgTEHOFYTKFhYû÷FTHmTIVWYûEhTEHIKVWHefDYHD[÷HTKEHmTIVWTKXTETIHMYû÷FTD[÷gTmGF_HDmTYHXKTHøaGFFTEim[EgTE_HXKTHKLH\TamTE UTTYH[EXHKLHüGY÷TaXHXTYHPDamKEITaHOWDEXGEgHIFDFF÷DEXTE_Hf[YXTEHDaIHXKIhYTFTHúDYE[EgHDEHXKTHimTYLûVWFKgTHjOHRDk9HKLHúTIFZDeK÷Kh gTXT[FTFlHSKTHhGLmKEKTYFTEHMYKTgIIZKTaTHKLHjLhYTKIHXTYHIiX^IKmKYKIVWTEHOFDXFHQIVWTa4DmKEIhHXDgTgTEHIGaaFTEHfGWaHTKEHþTKVWTEHITFeTEH÷iYHXTE gTLTKEIDLTEHúKaaTE_HTKETYHN[IfTKF[EgHXTIHKIaDLKIFKIVWTEHlDXKhDaKIL[IHKLHIiXaKVWTEH\aDVKIHXTYHTWTLDaKgTEHOGf4TF[EKGEHTKETEHlKTgTa kGYe[IVWKTmTElHýIHKIFHkKTaTIHKEHmTfTg[EgHgTYDFTEHKEHXKTITEH÷[YVWFTYYTgTEXTEHúTKFTE_HXKTHKVWHkGYH÷iE÷eTWEH`DWYTEH;HkGEHDaaTEHOTKFTEHhYKFKIKTYFH; DaIH7OVWaDVWF÷TaXHXTYHþ[h[E÷F8HmTIVWYKTmTEHWDmTl
ýKEHU[aaDWHD[IHM[EX[I SKTHliVhmTIKEE[EgHD[÷HXKTHYTKETH5TWYTHXTIHÿYGZWTFTEHKIFHmTKHXTEHRGLDXTEHúTIFhDIDVWIFDEIHEGVWHEKVWFHfTKFHgTXKTWTElHùLHþTKVWTEHXKkTYITY O[÷K^\TLTKEXTEH[EXHYTaKgKöITYHmYiXTYIVWD÷FTEHimTYaDgTYEHWKTYHXKTHIVWDLDEKIFKIVWTEH:mTYaKT÷TY[EgTEHXKTHhGYDEKIVWTH?÷÷TEmDY[EglHùLLTY fKTXTYHLDVWFHLKVWHLTKEHhDIDVWKIVWTYHøDWYTYHD[÷HXKTHh[EIFkGaaHKEHfTK]TLHU[IVWTahDahHgTLTK]TaFTEH\YûmTYHkGEHDEgTITWTETEHPGYXTE÷iWYTYE [EXHLTWYHEGVWHD[÷HXKTHUD[IGaTTEHDEgTmaKVWTYHU9IFKhTYHD[÷LTYhIDL_HXKTHXTEHþD[mTYhYû÷FTEHkGEHUTXKeKELûEETYEHfGWaHEûWTYIFDEXTEHDaIHXTY IFYKhFTEH?mITYkDEeHXTYHhGYDEKIVWTEHüGYIVWYK÷FTElHüKTaTHkGEHKWETEHWDFFTEH;HkGLHüGahHWGVWkTYTWYFH;HDaIHýKEIKTXaTYHKEHD[IgTIVWDVWFTFTEHPöWaTE XKTHgöFFaKVWTHùEIZKYDFKGEHgTI[VWFlHSKTHÿGYFDaTHIKEXHG÷FHX[YVWHgDEeH[EXHgDYH[EKIaDLKIVWTHSDYIFTaa[EgTEHkGEHQGFTLFKTYTEHgTIVWLiVhFl ùVWHmKEHimTYYDIVWFHkGEHXTEHkKTaTEHSYGLTXDYTE_HXKTHXTEHXGYEKgTEHúKaXf[VWIHfKTXTYhû[TElHSKTITHX[EhTamYD[ETE_HTKEWöVhYKgTE 7úiIFTEIVWK÷÷T8H[EFTYIVWTKXTEHIKVWHXT[FaKVWHkGEHXTEHefTKWöVhYKgTEHMDLTaTE_HfKTHLDEHIKTHmTYTKFIHKEHÿTYIKTEHDEFYK÷÷FlHSKTHjLYKIITHXTYHQKTYT ÷aKLLTYEHKEHXTYHITEgTEXTEHUKFFDgIga[FH[EXHkTYWDYYTEHYTgaGIHfKTHTKEH[EWTKakTYhiEXTEXTIH?LTEl ýKEXY[VhIkGaaTHUGE[LTEFTHIKEXHKEHXKTITYH\TgTEXHEKVWFHDEe[FYT÷÷TElHùIFHTIHTKETHøGagTHXTYH[ETYFYûgaKVWTEHUKFFDgIWKFeTAH`TXTE÷DaaIHTYIVWTKETE XKTHIZûYaKVWTEH?YFIVWD÷FTE_HXKTHIKVWHDEHXKTHOFTKahiIFTHhaDLLTYE_H÷DIFH[EmTfGWEFlH5ûEgIHXTYHOFYD]T_HXKTHEDVWHRGYXTEHKEHlKVWF[EgHøGYF OVWTfFIVWTEhGH÷iWYF_HIKEXHF9ZKIVWHY[IIKIVWTHPGaeWû[ITYHimYKggTmaKTmTEH[EXHD[VWHTKETHLGYIVWTHGYFWGXG6THMKYVWTlHýKEHZDDYH\TXTEhFD÷TaE TYKEETYEHDEHKYgTEXfTaVWTHaGhDaTEHúKXTYIFDEXIhûLZ÷TYlHSTLHSDF[LHKWYTIHQGXTIHTEFETWLTHKVW_HXD]HTIHIKVWHLTKIFH[LH?Z÷TYHXTYHgYG]TE IFDaKEKIFKIVWTEHOû[mTY[EgIfTaaTEHXTYHXYTK]KgTYH`DWYTHWDEXTaFTl SKTHýKEfKYh[EgHkGEHOF[YLH[EXHPKFeTHWDFHKEHXKTITYHEDVWgKTmKgTEH5DEXIVWD÷FHD[IHMDah÷TaIH[EXHODEXHmKeDYYTHlTaKT÷÷GYLTEHTEFIFTWTEHaDIITEl OTamIFHkGEHXTYHTWTLDaKgTEHeDYKIFKIVWTEHøTIF[Eg_HXKTH[YIZYiEgaKVWHe[HýWYTEHÿTFTYIHXTIH\YG]TEHÿTFYGZDfaGfIhHWKT]_HIZûFTYHXDEEHe[LHl[WLHXTI [hYDKEKIVWTEHRDFKGEDaWTaXTEH[EXHSKVWFTYIHKEHOVWTfFIVWTEhGH[LmTEDEEFHf[YXT_HIKEXHE[YHTKEHZDDYHþKTgTaHimYKggTmaKTmTElHSTYHkTYfDWYaGIFT GYFWGXG6THøYKTXWG÷HETmTEDEHIFTKgTYFHEGVWHXTEHXTIGaDFTEHýKEXY[VhHkGEHüTYaDIITEWTKFH[EXHüTYeKVWFl jEkTYL[FTFHIFG]TEHfKYHD[÷HXKTHmaTVWh[ZZTaHTKETYHWDamfTgIHDEITWEaKVWTEHUGIVWTTlHýKEHmûYFKgTYHU[aaDWH;HKEHfTK]TEHQ[YmDEH[EXHfTK]TE MD÷FDEHgThaTKXTFH;HkTYWDYYFHDLHIVWLKTXTTKITYETEHÿGYFDalHýYHmTGmDVWFTFH[EIHLK]FYD[KIVW_HfKTHLKYHIVWTKEFlHùVWHmTgYi]THKWEHFYGFeXTLHLKFH7DI IDaDLHDaTKh[L8_HGmfGWaHTKETHIGaVWTHøGYLTaHE[YHL[IaKLKIVWTEH\aû[mKgTEHkGYmTWDaFTEHITKEHIGaaFTlHOTWYHmDaXHIFTaaTHKVWH÷TIF_HXD]HTYHimTYHhTKET ETEETEIfTYFTEHDYDmKIVWTEHOZYDVWhTEEFEKIITHkTY÷igFlHSTYHùLDLHmTIFûFKgFHLKYHKLLTYWKE_HXD]HITKETH\TLTKEXTHXTLHWDET÷KFKIVWTEHlKF[I DEWûEgFl NaIHKVWHKWEH÷YDgT_HGmHTYHXTYHgTKIFaKVWTEHmY[XTYIVWD÷F_HXTYH7QDYKhD8HXTIHOVWTKhWHRDRIVWmDEXHD[IHm[hWDYD_HEDWTIFTWT_HXKTHKLHEDWTEHSDgTIFDE IFDYhHkTYFYTFTEHKIF_HIVWiFFTaFHTYHûYgTYaKVWHXTEHMGZ÷lHùVWHfKaaHXTEHIZûYaKVWTEHMGEFDhFHmTYTKFIHDmmYTVWTE_HXDHTY÷DWYTHKVWHkGEHKWL_HfGHTYHITKET gTKIFaKVWTHN[ImKaX[EgHTYWDaFTEHWDF_HKEHfTaVWTYHUDXYDIIDHTYHXKTHO[YTEHXTIHMGYDEHD[IfTEXKgHgTaTYEFHWDFlHýYHITKHKEHN÷gWDEKIFDE_HKEHXTYHOFDXF M[EX[I_HDaIHQDaKmHe[LHYTVWFTEH\aD[mTEHTYeGgTEHfGYXTEl ùVWHIDgTHXTLHU[aaDWHEKVWF_HXD]HM[EX[IHIKVWHKLHþTEFY[LH4TETYHOVW[FeeGETHmT÷KEXTF_HXKTHFWTGYTFKIVWHXTLHXT[FIVWTEHùONø^MGEFKEgTEF e[gTGYXETFHKIF_He[LDaHIKVWHXGYFHXKTHma[FKgTEHþ[IDLLTEIFö]THLKFHXTEHQDaTmDEHWû[÷TElHNmTYHKVWHkTYI[VWTHXTLH÷YGLLTEHUDEEHe[HTYhaûYTE_HXD]
KVWHLKFHTKETLHmTYiWLFTEHOGWEHXTYHOFDXFHM[EX[I_HXTLHU[X4DWKXKE^MGLLDEXDEFTEH\[am[XXKEHPThLDF9DY_HTEgTEHMGEFDhFHgTZ÷aTgFHWDFFT_HXD] KVWHLKFHITKETEH\GFFTIhYKTgTYEHXTYH7PTem^T^ùIaDLK8HfûWYTEXHXTIHøTaXe[gTIHgTgTEHXKTHOGf4TF[EKGEHLKVWHD[÷HXTEH7ÿ÷DXTEHNaaDWI8H[EXHXTI PTKaKgTEHMYKTgTIHX[YVWHXKTHøTaIIVWa[VWFTEHkGEHQGYDHmGYDHgTR[ûaFHWDFFTl ùEefKIVWTEHWDFHPThLDF9DY_HXTYHITKETYeTKFHXTEHe[IFûEXKgTEHXT[FIVWTEHSKTEIFTEH[EXHOFK÷F[EgTEHfGWamThDEEFHfDY_HEDVWHüTYFYTKm[EgHXTY gGFFaGITEHOGf4TFI_HXTYH7OVW[YDfK8_HITKETHúD÷÷TEHgTgTEHXTEHDEXTYTEH7øTKEXH\GFFTI8_HXTEHDLTYKhDEKIVWTEHùLZTYKDaKIL[I_HgTYKVWFTFlHùEHXTY UGEXaDEXIVWD÷FHkGEHM[EDYH[EXHR[YKIFDEH÷iWYFHTYH;H[EDmWûEgKgHkGEHXTEHQDaTmDEHXTIHU[aaDWH?LDYH;HTKETEHimTYD[IHfKYhIDLTEHNmfTWYhDLZ÷ gTgTEHXKTHET[TEH[Egaû[mKgTEHùEkDIGYTEHD[IHXTLHúTIFTEl SKTHQDFIDVWT_HXD]HKVWHPThLDF9DYHZTYIöEaKVWHhTEET_HkTYfDEXTaFHXTEHQ[YmDEFYûgTYHKEHTKETEH÷YT[EXaKVWTEH\DIFgTmTYlHýYHaû]FH[EIHQTTHITYkKTYTE [EXHaûXFH[EIHKEHITKEHmTIVWTKXTETIHPD[IHTKElH\YG]THýYhTEEFEKIITHWDmTHKVWHDEHXKTITLHRDVWLKFFDgHEKVWFHgTfGEETE_HDmTYHTKETHN[IIDgTHXTI ÷YGLLTEHUDEETIHWDFHIKVWHLKYHTKEgTZYûgF_HDaIHKVWHKWEH÷YDgT_HLKFHfTaVWTYHZGaKFKIVWTEHlKVWF[EgHGXTYHÿDYFTKHMDIDVWHIFDEIHTYHIKVWHkTYm[EXTEH÷iWaT_ GmHTYHXTYHKEefKIVWTEHkTYmGFTETEHOWTaFGRIDE^mTfTg[EgHEDVWFYD[TYTHGXTYHIKVWHXTYHKIaDLKIFKIVWTEHNaDIW^\Y[ZZTHDEgTIVWaGIITEHWDmTlHSKT mDYIVWTHNEFfGYF_HXKTHKVWHTYWDaFT_HKIFHLKYHEKVWFHET[lH75DHWKemHKaaDHWKemHNaaDW8HTYfKXTYFHXTYH7MWDFKm8HhDFTgGYKIVWKH7ýIHgKmFHhTKETHÿDYFTK_HD[]TYHXTY ÿDYFTKH\GFFTIl8
CDEFGHGIFDJG
KLMNLOPQR SITHUEFFVWXYZWE[H\T]H^PW_`TEaMTJG_WFIGEb UIEHOGcdTF[TET]D_HZGYZHeWHMGf gIXYZhThiHIjHOGjjT]HXYYZ LXFHIEHgIXYZhThiH\T]H[DW`FXFD\FHKI][IXFDEXiH\ITH\TIFHXFTZTE[T]_IT]TE^H[GYZHeWHMGfiHIEHg]GEeTH[T[GXXTEiH]TIFTFH\G]FHIjjT]HEGYZH\T]H_T_\ZT]] `IYZDI_H_]WEXTHDWaH\TEHgDZEZGaHeWbHU]IEET]FHjDEHXIYZHIEHgIXYZhThiH\DXH]IXHeW]HcED]ZVE[I[hTIFXT]h_V]WE[H\ITXT]HeTEF]D_HDXIDFIXYZTEHMT`W]_Ih XG[D]H\TEHRDjTEH\TXHDWXHgTXXD]D]ITEHXFDjjTE\TEHU]G]T]T]XHF]W[iH\TEEH[D]HEIYZFH\D]DEiH\DfH\ITHMGFTHQ]jTTHWEFT]HXTIETjHgTaTZ_H[DEe \TEF]D_DXITEHIEH\ITHhGjjWEIXFIXYZTH\cDE[XdDYhTHXFTYhFTiH\DfH_]WEXTH\TEHIX_DjIXYZTEH.I\T]XFDE\H\T]H^gDXjDFXYZIbH]]DYZHWE\H\DXHUjI]DF gWhZD]DH\TjHXFD_IEIXFIXYZTEHLj`T]IWjHTIE[_IT\T]FT^HOIE\H\ITHKI][IXTEH/HcDXHIZ]THF]D[IXYZTH=T][DE[TEZTIFH]TF]IaaFH/HXGHJT][Tf_IYZiHG\T]HZDE\T_F TXHXIYZH_T\I[_IYZHWjHTIETHD\jIEIXF]DFIJTHOYZ_Dj`T]TI^ RIYZFHEW]H\T]HMTJG_WFIGEX[TET]D_H_]WEXTHFZ]GEFHEGYZH[T]ITFT]IXYZHDWaHXTIETjHOGYhT_bHcEcTIFH\TXHXYZ‧ETEHh_DXXIeIXFIXYZTEH{`T]E[T]VW\TXi \DXH\ITHMWXXTEHIEHgIXYZhThHcITHIEHXGHjDEYZTEH|]GJIEeaHWE\HMD}GEaOFV\FTEHIEH_G]TEXcT]FT]HhW_FW]T__T]HQ]XIYZFHZIEFT]_ITfTEiHIXFHTIEHDE\T]TX KG_GXXD_\TEhjD_HDWXH\T]HOGcdTFeTIFHT]ZD_FTEH[T]_IT]TEbHLEH]GFTjH`D]jG]HIXFH\ITHJG]]I_\_IYZTHKGjjWEIXFIEHc]hWdDHOD_IdTE\DH\D][TXFT__FbHOIT cD]H\ITHT]XFTHcTI]_IYZTHKG_YZGXTEa=G]XIFeTE\TiHEDYZ\TjH`GXhDWH\ITHKG__ThFIJIT]WE[H\T]H=ITZeWYZFHjIFHhDFDXF]G`ZD_TEH_G_[TEHa~]H\TEHgTXFDE\ \T]H]IX_DE[HEGjD\IXIT]TE\TEH[T]\TEHDE[TG]\ETFHZDFFTbHSITHNTEGXXIEHOD_IdTE\DHZDFHF}`IXYZHDXIDFIXYZTHNTXIYZFXe~[TbH`IFHXIT[ZDaFT]HNTXFTH]TIfF XITH\TEHOYZ_TIT]H\T]HIX_DjIXYZTEHcEFT]\]~YhWE[HZT]WEFT]HWE\H]_IYhFH]T[TIXFT]FHIEXHTT]TbHLjHDZ]HMZNNHcD]H\ITXTHQhFIJIXFIEH\T]HOGcdTFajDYZF JGEH\TEH^gDXjDFXYZIbH/HJGEH\TEHMVW]T]EHWE\H.T[T_D[T]T]EiHcITH\ITHMWXXTEH\ITXTHKVj`aT]H\TXH[TI_I[TEHK]IT[TXHXYZjVZFTEH/HT]jG]\TF cG]\TEb OGH_DE[THZDFFTHXIYZHD_XGH\T]HhG]DEIXYZTH.I\T]XFDE\HjIFHJ‧__I[HWEeW]TIYZTE\T]HgTcDaaEWE[H[T[TEH\ITHcTIFH~]T]_T[TETEH=T]]VE\TH\T] NGFF_GXTEH]TZDW`FTEHh‧EETEbHSDXHJT]ecTIaT_FTHQWa]VWjTEiH\DXHIjH_T][DEDaPD_HWE\HIEHPD\XYZIhIXFDEHXTIETHgG__cT]hTHJT]FTI\I[FTiHZDFHeTIFcTI_I[ WEFT]H\TjHgTaTZ_H\TXH_TFeFTEHGXjDEIXYZTEHK]IT[XjIEIXFT]XHUEJT]H|DXYZDH[TXFDE\TEiH\T]HjIFHXTIETjHh_TIETEHMTIFT]F]W``HTIETHXT_]XFj‧]\T]IXYZT QFFDYhTH[T[TEH\DXH`DXYZIETE[TcTZ]aTWT]H\T]HgG_XYZTcIhIH]IFFbHRGYZHZTWFTH`I_[T]EH\ITHa]GjjTEHPD\XYZIhTEHeWHdTETjHSG]aHDjH{]T]_DWaH\TX QjWHSD]IDiH\T]H\G]FH|dDE\XYZH[TEDEEFHcI]\iH[D]HEIYZFHcTIFH~]]I[TEXHJGEH\T]H\TWFXYZTEHLOQ_a_TXFWE[HKWE\WXHDWaH\TjHO~\WaT]H\TXH__WXXTX TEFaT]EFiHWjH\ITXTjH_TFeFTEHOTE\]GFTEH\TXHKD_IaTEHJGEHLXFDE]W_HeWHZW_\I[TEb SITH[TcD_FI[THOFDFWTH._D\IjI]HL_dIFXYZHTEIEXHjIFH]IYZFWE[cTIXTE\HDWX[TXF]TYhFTjHQ]jHXFTZFHecD]HEIYZFHjTZ]HDWaH\TjHeTEF]D_TEH|_DFeH\T] hI][IXIXYZTEH[DW`FXFD\FbHOITHcW]\TH\G]FH\W]YZH\DXHSTEhjD_H\TXHj}FZIXYZTEHRDFIGED_ZT_\TEH`DEDXHT]XTFeFiHTIETEHXYZcT]FXYZcIE[TE\TEHKG_Gf DWXHXYZcD]eTjHOFDZ_iH\T]HD_XHeTEF]D_TH_I[W]H\T]HhDXDYZIXYZahI][IXIXYZTEHc]X`]WE[X_T[TE\THDWaF]IFFHWE\HIEHTIETjHTE\_GXTEHU`GXH]TXWE[TEHcI]\b SGYZH\T]H=DFT]H\T]H]GFTEH{hFG]T]]TJG_WFIGEHIXFHhTIETXcT[XH]TIXTIFTH[T]VWjFHcG]\TEbHU]HcW]\THDEHDE\T]T]H`]GjIETEFT]HOFT__THETWHDWa[TXFT__F D_XHMT_IhFHTIET]HL\TG_G[ITiH\ITH_VE[XFHJT]]_DfFHIXFb O .I]HcD]TEHeWHEVYZF_IYZT]HOFWE\TiHJGEHQhFWHhGjjTE\iHIEH\T]Ha]~ZT]TEHhDXDYZIXYZTEH[DW`FXFD\FHQ_jDF}H[T_DE\TFbHSITHecTIHOFWE\TEHOYZ_DaiH\IT WEXHJT][‧EEFHcD]TEiHJT]]]DYZFTEHcI]HEIYZFHIjH`Gj`‧XTEH^MDZDFH|D_DYTbiHXGE\T]EHIEHTIET]H]TXYZTI\TETEHcEFT]hWEaFbHSDEEH]G__FTEHcI]HFGFD_ ~]T]j~\TFHIEHMIYZFWE[HgIXYZhThiH\TXXTEHhGjjWEIXFIXYZT]HRDjTH_]WEXTHXTIET]eTIFHDWYZH\T]HZ‧YZXFTEHXGcdTFIXYZTEH`I_IFV]DhD\TjITHJT]_ITZTE cW]\TbH.I]HZDFFTEHWEXHXG_YZTHUI_THDWaT]_T[FiHcTI_HcI]H]TYZFeTIFI[HeWjHjWX_IjIXYZTEH_]TIFD[X[T]TFHTIEF]TaaTEHcG__FTEbHSITHJT]]GFFTFTiHXYZV]I[T [G_ejGXYZTTiH\ITHIYZH]TIHjTIETjHT]XFTEHQWaTEFZD_FHIjHOGjjT]HMZPYHDWa[TXWYZFHZDFFTiHcD]HXTIFH\T]HcED]ZVE[I[hTIFH\W]YZHTIETEHXFDFF_IYZTE KW``T_]DWHT]XTFeFHcG]\TEb RDYZH\T]HRIT\T]cT]aWE[H\TXHIX_DjIXYZTEH.I\T]XFDE\TXH\W]YZH_]WEXTHZDFFTEH\ITHOGcdTF]TZ‧]\TEHDE[TG]\ETFiH\DfH\ITHhI][IXIXYZTEH_]DWTE IZ]TH]IXZT]I[TH=T]jWjjWE[iH\ITHDE[T]_IYZH\T]H]T_I[I‧XTEH=G]XYZ]IaFHTEFX`]IYZFiHD]_T[TEiHDWaHTIETEH[DWaTEHcT]aTEHWE\H‧aaTEF_IYZHJT]]]TEETE jWfFTEbHSITH^|D]DE\XYZDbiH\ITHZIT]H[TF]D[TEHcW]\TiHVZET_FH\T]HPGFD_JT]jWjjWE[H\T]H^gW]hDbiHcITHXITHIEHQa[ZDEIXFDEHZTWFTHEGYZ cTIF[TZTE\H~]_IYZHIXFb [TWFTHFDWYZTEH]T]TIFXH\IJT]XTH=D]IDEFTEH\TXH^[IdD]bHDWaiHWE\HXGHcD]TEHcI]HETW[IT]I[iHG]HcGZ_HDWYZH]TIH\TEHjVEE_IYZTEHN_VW]I[TEHTIET M~Yh]TXIEEWE[HDWaH\ITHTZ]TH\TXH|]G`ZTFTEHXFDFFaVE\TbH\cD]HcD]H\ITHa]TITHMT_I[IGEXDWX~]WE[HXTIFH\TjHOFW]eH\T]HhGjjWEIXFIXYZTEH[T]]XYZDaF cIT\T]HGaaIeIT__H[TETZjI[FiHD]T]H\ITHJGjHOFDDFHT]EDEEFTEH`WaFIXHWE\HLjDjTHcD]TEHXF]TE[XFTEXHDE[TZD_FTEiHXIYZHIEHIZ]T]H_]TIFD[X`]T\I[FiH\T] ^KZWF]DbiHdT\T]H`G_IFIXYZTEHOFT__WE[EDZjTHeWHTEFZD_FTEbH=GEHTIETjHQWa]WaHeWjH^IZD\bHhGEEFTH~]T]ZDW`FHEIYZFH\ITHMT\THXTIEb cjHXGH~]T]]DXYZFT]HcD]TEHcI]iHD_XH\ITHETWTiH[T]VWjI[TH^DjIQbiH\ITH_]TIFD[XjGXYZTTiHJGEHN_VW]I[TEH~]T]a~__FHcD]iHdDH\DfHXIYZH\ITHgTFT] DWaH\TjHcTIFTEH=G]`_DFeH\]VE[FTEHWE\HIEHMIYZFWE[H`ThhDHJT]ETI[FTEbHUXHZDE\T_FTHXIYZHEIYZFHcITHeWHOGcdTFeTIFTEHWjHTIEH`DD]HV_F_IYZT SIYhXYZV\T_iH\ITH\TjHKG]DEH\ITHP]TWTHZIT_FTEiHXGE\T]EH\ITHhGj`DhFTH`TE[THXTFeFTHXIYZHaDXFHDWXXYZ_ITf_IYZHDWXHdWE[TEiH\}EDjIXYZTEH`VEET]E eWXDjjTEiH\ITHXIYZiHWjHEIYZFHD_XHjI_IFDEFTHLX_DjIXFTEHI\TEFIaIeIT]FHeWHcT]\TEiH\TEHgD]FHD]]DXIT]FHZDFFTEb gIXYZhThH]_TI]FHjI]HD_XH\ITH]TIeJG__XFTHOIT\_WE[HOGcdTFIXYZa\TEF]D_DXITEXHIEHU]IEET]WE[bHLjHOGjjT]HJT]XYZcIE\TEH\ITH]]TIFTEHQ__TTEHIjHN]~E \T]HgVWjTHWE\H|D]hXbHLEH\T]H\cIXYZTEeTIFHIXFH\DXHLEFGW]IXFa[GFT_HQ_DFDWiHcGHIYZHTIEXFH_G[IT]FHZDFFTiH\W]YZHTIEHT]XFh_DXXI[TXH[}DFFHT]XTFeF
cG]\TEiHJGEH\TXXTEH_WRW]I‧XT]HGWE[THDWXH\T]Hg_IYhH~]T]H\ITHXYZETT]T\TYhFTEH\DYhTEh]GETEH\T]HEDZTEHNT]I][THXYZcTIaFb UIETH[]WE\_T[TE\TH=T]VE\T]WE[HaV__FHjI]HDWabH=G]H\]TIfI[HDZ]TEHWEFT]_D[HjTIETHgTcT[WE[Xa]TIZTIFHIEHKI][IXFDEHXF]IhFTEHUIEXYZ]VEhWE[TEb OT_]XFH\T]H^cD]jTHOTTbHLXX}haKW_HcD]HDWXH\TjHPGW]IXFTE`]G[]DjjH[TXF]IYZTEbHOTIET]eTIFHJT]jWFTFTHIYZiH\DfH\G]FHRWh_TD]aMDhTFTEH[T[TE CZIEDHTIE[T]WEhT]FHc~]\TEbHO`VFT]HT]aWZ]HIYZiH\DfHXIYZH\DXHD][]WE\FITaTH.DXXT]H\TXHLXX}haKW_HeW]HU]`]G]WE[HJGEHETWTEHOTTjIETEHWE\ PG]`T\GXHTI[ETEHXG__FTb OTIET]eTIFHjWfFTHIYZHjIYZHEGYZH[_~Yh_IYZHXYZVFeTEiH\DfHjI]HTIEH]T[]TEeFT]HQWXa_W[H~]T]HDE\HIEHMIYZFWE[H{XFTEHT]_DW]FHcW]\TbHURDhF DWX[T]IYZFTFTHOF]DfTE\‧]aT]HXVWjFTEH\ITHOF]TYhTH]IXHeWH\TEHMWIETEHJGEHgW]DEDbHLEH\TEHKG_YZGXaOIT\_WE[TEHTEF\TYhFTHIYZHXFDFFH`GXYZTTEHEW] \ITH^KW_FW]ZVWXT]bH\TXHOGcdTFX}XFTjXiHD]T]HDWaH\TEH_]IT\Z‧aTEHcD]TEH\ITHN]D]XFTIETHaDXFHIjjT]HjIFHTIETjH[D_]jGE\HDWXHg_TYZHJT]eIT]Fb `DW]T]HcD]TEHjIFH\TjHgDWHXFDFF_IYZT]HETWT]HKW``T_[]V]T]H/H\TEH`D]D]WXHIEHRG]\Da]IhDHeWjH=T]cTYZXT_EHVZE_IYZH/H]TXYZVaFI[Fb ST]HPW]jHJGEHgW]DEDiHTIEHa]~ZT]TXH`IED]TFFHjIFHgDYhXFTIEa{]EDjTEFIhiH]I_\TFTH\TEH[TG[]D`ZIXYZTEH`IFFT_`WEhFHTIET]Ha]WYZF]D]TEHU]TETb NI[DEFIXYZTHU]EFTjDXYZIETEHcD]TEH\G]FHIjHUIEXDFebH.VZ]TE\H\T]HTIE]]TYZTE\TEHSVjjT]WE[HFDXFTFTEHXITH\ITH_T_\T]HjIFHOYZTIEcT]aT]EHD]bHSIT F~]hIXYZTHS}EDXFITH\T]HSD]DhZDEI\TEHZDFFTH]WE\HWjHgW]DEDHIjHT_aFTEHDZ]ZWE\T]FH\TEHOYZcT]`WEhFHIZ]T]H[T]]XYZDaFHT]]IYZFTFbHSDEEHcD] SXYZIE[IXHKZDEH[ThGjjTEH/H^T]HZDFFTH~]T]HXTIETH_TIE\THEW]H[T_DYZFHTbiHcITHTXHIjHOYZ_D[T]HZTIfFH/HWE\HZDFFTH\ITHIX_DjIXYZTHKW_FW]H\Tj U]\]G\TEH[_TIYZ[TjDYZFb UIEH`DD]HD_FTH`DWT]EiHP]~jjT]Z~[T_HWE\H\ITHKW``T_EHJGEH`DWXG_TTEHcD]TEH]WE\HWjH\DXH`IED]TFFH~]]I[[T]_IT]TEbHSITH]GFTEHP]DEX`D]TEFT \T]HOFDDFX[~FT]HWE\HKG__ThFIJa_D]jTEH`]GFeFTEHjIFH{`FIjIXjWXHWE\HGaaIeIT__T]H\WJT]XIYZFbHQ]T]H~]T]H\T]HXFDW]I[TEiH_TT]TEHOTEhTHJGEHgW]DEDi WEFT]H\TjH[T_][TXF]TIaFTEHQ]TE\ZIjjT_iH_DXFTFTHTIETHWE]TXYZ]TI]_IYZTHOYZcT]jWFiH\ITH\W]YZHDZ]FDWXTE\THT]ETWT]FTHNTcIfZTIFHjTEXYZ_IYZT] =T][VE[_IYZhTIFb
MWf_DE\HcI]\HDjH[IE\WhWXYZHJT]FTI\I[F .T_YZTXH\ITHTRDhFTEHQWa[D]TEH\TXHTFcDHa~EaeI[dVZ]I[TEHQjT]IhDET]XHXIE\iH\T]HjI]HIEHXTIETjHE~YZFT]ETEiHjIFHDE\hD]FTEHFD`TeIT]FTEHg~]G TIETXHOFW\ITEeTEF]WjXHa~]H\TEF]D_DXITEH[T[TE~]T]XIFeFiHXG__HZIT]H[D]HEIYZFHT][]~E\TFHcT]\TEbHSITHSIXh]TFIGEH[T]ITFTFHeW\TjiH\DfHIYZHIZEHEW] WEFT]H\TjHRDjTEH^_]DEYIXbHT]cVZETbHSITXT]H^HWITFHQjT]IYDEbHIXFHIEHhTIET]H.TIXTHjIFH\TjHQ[TEFTEH|}_THeWHJT][_TIYZTEiH\TjHN]DZDjHN]TTET IEHXTIETjHLE\GYZIEDaMGjDEHTIEHWE]~Zj_IYZTXHSTEhjD_H[TXTFeFHZDFbH_]DEYIXHcV]THa~]HD]TEFTWT]_IYZTHKGj`_GFFTHEIYZFHeWHZD]TEH[TcTXTEb U]H]TTIE\]WYhFHjIYZH\W]YZHXTIETHODYZhTEEFEIXXTHWE\HXTIETHDE[T_XVYZXIXYZTHNT_DXXTEZTIFbH^LYZHJT]XWYZTHJT][T]_IYZiH\ITHgTZ‧]\TEHIE .DXZIE[FGEHDWaH\ITHXIYZH]D`I\THJT]XYZ_TYZFT]E\THOIFWDFIGEHZIEeWcTIXTEiH\ITHIEH\TEHTZTjD_I[TEHOGcdTF]T`W]_IhTEH\TEF]D_DXITEXHeWHJT]X`~]TEHIXF WE\H\TjEVYZXFHDWYZHDWaH\TEHRG]\TEHQa[ZDEIXFDEXH~]T][]TIaTEH\~]aFTbiH]T[IEEFHT]H\DXHNTX`]VYZiH^D]T]HOITHZD]TEHjIFHLZ]T]HgT]IYZFT]XFDFFWE[ JT]jWF_IYZHVZE_IYZTH|]G]_TjTbb SITHeWETZjTE\THNTcD_FFVFI[hTIFH[TZTHIjHcTXTEF_IYZTEHJGjH_T][DEDaPD_HDWXiHcGH[_TIYZHJIT]HOFDDFTEH/HcX]ThIXFDEiHPD\XYZIhIXFDEiHKI][IXFDE WE\HKDXDYZXFDEH/HDWaTIEDE\T]XFGfTEbHLEH_TFeFT]H\TIFHXTIH\ITH~]T]_ITaT]FTH_TIE\XT_I[hTIFHecIXYZTEH\TEHKI][IXTEiH\ITHjTZ]ZTIF_IYZHIjHRG]\TEH\T] MT`W]_IhHJGEHgIXYZhThHXIT\T_EiHWE\H\TEHcI[W]TEiH\ITHIjHX~\_IYZTEHcjaT_\HJGEH{XYZHa~]HcE]WZTHXG][TEiHcIT\T]HJTZTjTEFHDWa[Ta_DjjFbHOTIF \T]H|]VXI\TEFHcX]ThIXFDEXiHLX_DjHKD]IjGciHJG]HJIT]HDZ]TEHWEFT]H\TEHjTWFT]E\TEHUIEcGZET]EH\T]HOFD\FHQE\IdDEHTIEHg_WF]D\HDE]IYZFTFTiHZVFFTE eDZ_]TIYZTHLX_DjIXFTEH\ITXT]HMT[IGEHIEH\T]HhI][IXIXYZTEHRDYZ]D]XYZDaFH\Wa_WYZFH[TXWYZFb LYZHT]cVZETHTIETEHa]~ZT]TEHgTXWYZHIEH\T]H_T][DEDa{]FXYZDaFHRDjDE[DEiH\ITHD_XHF]D\IFIGET__TXH\TEF]WjH]T_I[I‧XT]HQWa_TZEWE[HWEFT] ]TXGE\T]XHXF]TE[T]Hb]T]cDYZWE[H\W]YZH\TEHMT`]TXXIGEXD``D]DFH\TXHTZTjD_I[TEH|D]FTIXTh]TFV]XHKD]IjGcHXFTZFbHSITHdWE[TEH`W\dDZI\IEHDWX cX]ThIXFDEiH\ITHXIYZHIEH\T]H^|D]FTIH\T]HgTa]TIWE[H/H[Ie]aTaFDZ]I]bHXDjjT_EiHZDFFTEH/HDWaHXTIFTEH\T]HPD_T]DEHhVj`aTE\H/H]TIH\TE DjT]IhDEIXYZTEH__VYZTE]Gj]D]\TjTEFXHJGEHXYYMHIEHIZ]TEHQ]cTZ]XFT__WE[TEH]WE\HWjHKWE\WXHXYZcT]TH=T]_WXFTHT]_IFFTEb SITHb]T]_T]TE\TEHWE\HRTWDEZVE[T]HZD]TEHXIYZHXTIF\TjHIEH\TEHWEeW[VE[_IYZTEHOFDjjTX[T]ITFTEHRG]\`DhIXFDEXHETWH[]W``IT]FbHUjIXXV]T \T]HhG]DEIXYZTEHMTJG_WFIGEHXIE\HETWT]\IE[XHDWYZHIEHKI][IXFDEHDhFIJbH\WXVFe_IYZTHO`DEEWE[TEH[TZTEHJGEHPD\XYZIhIXFDEHDWXbHSG]FHXTITEH\IT .WE\TEH\TXHa~]YZFT]_IYZTEHg~][T]h]IT[TXiH\T]HecIXYZTEHURhGjjWEIXFTEHWE\HLX_DjIXFTEiHecIXYZTEH\TEHC_DEXH\T]HKW_D]IHWE\H\T]HNZD]jIH[TFG]F ZDFFTiH_VE[XFHEIYZFHJT]ZTI_FbHLEH[TcIXXTEHNT]I][XaTXFWE[TEHZVFFTEHXIYZH]T]TIFXHLEXT_EH\TXH.I\T]XFDE\TXH[T[TEH\DXHMT[IjTH\TXHQ_FhGjjWEIXFTE MDYZjGEGcHaG]jIT]Fb ^SITHNTaDZ]HYZDGFIXYZT]H\WXFVE\THIEHPD\XYZIhIXFDEHXG__FTH\TEHSTWFXYZTEHeWH\TEhTEH[T]TEbiH]TFGEFH_]DEYIXHWE\HeTI[FHDWaHTIETHDE\hD]FTb ^ST]HJGEH\T]HgWE\TXcTZ]HD][TXIYZT]FTHOThFG]HRG]\Da[ZDEIXFDEXHIXFHJGEH\TjHETWTEHcE]WZTZT]\HIEHPD\XYZIhIXFDEHEW]H\W]YZH\TEH__Wf_DWaH\TX |dDE\XYZH[TF]TEEFiHWE\H\DEEHXIE\HEGYZHhED``Ha~EaeI[HKI_GjTFT]HJG]e~[_IYZT]HQX`ZD_FXF]DfTHeW]~YheW_T[TEiHWjHeWH\TjHETW]D_[IXYZTEH|WEhF \T]H\TWFXYZTEHQ]jTT`]VXTEeiHeWjHOF~Fe`WEhFHJGEHKWE\WXiHJG]eW\]IE[TEbb LYZHZDFFTH\ITXTHOF]TYhTiH\T]TEHQWX]DWH\W]YZHYZIETXIXYZTHKGEF]DhFaI]jTEH\W]YZ[Ta~Z]FHcW]\TiHEGYZH\]TIHDZ]THeWJG]H]TaDZ]TEiHGZETHDEHTIET X`TeIT__THNTaVZ]\WE[H\W]YZHPD_T]DEab]T]aV__THeWH\TEhTEbHQ]T]H\DXHZDFHXIYZHcGZ_HXTIF\TjH[]~E\_IYZH[TVE\T]FiHWE\H]TIH\T]HTReTXXIJTE gTZWFXDjhTIFiH\ITHXIYZH\ITHgWE\TXcTZ]HIEHIZ]TjHOThFG]HecIXYZTEH`DXD]aTaOYZD]IaHWE\H_DIeD]D\HDWaT]_T[FiH\~]aFTEHEW]HEGYZHIEHQWXEDZjTaV__TE [T`DEeT]FTHKGEJGIXHjIFH\TjHgD_hTEh]TWeHTEF_DE[H\ITXT]HXF]DFT[IXYZHTjIETEFHcIYZFI[TEHN]TEeeGETH`DF]GWI__IT]TEb ^SDHXIE\HcI]HEWEHIEH\T]HD]XW]\TEHOIFWDFIGEbiHaVZ]FH\T]HQjT]IhDET]HjIFH\T]HIZjHTI[TETEHXhT`FIXYZTEHNT_DXXTEZTIFHaG]FiH^\DfH\ITH]TI\TE _TFeFTEHOFDDFXcTXTEH\T]HcTIfTEH`TEXYZZTIFiH\ITHEGFaD__XHEGYZHIEH\T]HD[THcV]TEiHTIEHjVYZFI[TXiHFTI_cTIXTH[I[DEFIXYZTXH`I_IFV]`GFTEFID_H[T[TE \ITH[T]D__FTH.WYZFHQXITEXHDWaeW]ITFTEiHTIETEHXFW`I\TEHg]W\T]h]IT[HWEFT]TIEDE\T]HDWXF]D[TEbbHcEFT]H=T]EDYZ_VXXI[WE[HIZ]T]HTRIXFTEFIT__TE [TGXF]DFT[IXYZTEHLEFT]TXXTEHIEH\ITXT]H.T_F]T[IGEiH~]T]H\ITHXIYZH]T]TIFXH\T]H[TcD_FI[THOYZDFFTEHCZIEDXH_T[FiHc~]\TEHXIYZH.DXZIE[FGEHWE\ `GXhDWHTIETEHJT]]IXXTETEHK_TIEh]IT[HWjH\ITHRWFeWE[HJGEH`I_IFV]]DXTEHWE\H\TEH=T]_DWaHJGEH|I`T_IETXH_ITaT]Eb .T]HT]IEET]THXIYZHZTWFTHEGYZH\D]DEiH\DfHXTIET]eTIFH\ITHaDEDFIXYZTEHWE\HaIEXFT]TEH[G]\TEH\T]HPD_T]DEH\W]YZH\ITHhGj]IEIT]FTHQhFIGEH\T]HcOQ WE\H|DhIXFDEXHIEXHT]TEH[T]WaTEHcW]\TE^HSTEHWET]XVFF_IYZTEHc_hGEeT]ETEHWE\HIZ]TEHG]]}XHcD]HTXHIEHT]XFT]HIEITH\D]WjH[T[DE[TEiHTIET OFD]I_IXIT]WE[H\T]HIEFT]ETEH=T]ZV_FEIXXTHQa[ZDEIXFDEXHeWHT]cI]hTEiHcGH\ITH\IJT]XTEH`W\dDZI\IEa_]DhFIGETEHEDYZHQ]eW[H\T]HOGcdTFD]jTTHIEHTIET WE]TXYZ]TI]_IYZTHQED]YZITHD][T[_IFFTEHcD]TEbHSITHgWXZaQ\jIEIXF]DFIGEHcD]H]T]TIFiH\ITHXYZ_IjjXFTEHQWXc~YZXTH\TXHIX_DjIXYZTE _WE\DjTEFD_IXjWXHDjH[IE\WhWXYZHIEHKDWaHeWHETZjTEiHcTEEHIZ]HD_XHNT[TE_TIXFWE[HDWX]TIYZTE\HOIYZT]ZTIFH[T]GFTEHc~]\TiHWjH\TEHP]DEX`G]F
\T]HIjjTEXTEHc_aHWE\HNDX]TXT]JTEH\TEF]D_DXITEXHDEHMWf_DE\HWE\HL]DEHJG]]TIH\W]YZHDa[ZDEIXYZTXHPT]]IFG]IWjH~]T]H[T]DFHWE\HOZIE\DE\H]IXHeW \TEH`DhIXFDEIXYZTEH[VaTEHDjHLE\IXYZTEH{eTDEHeWH[TcVZ]_TIXFTEb SDXHQ]hGjjTEHecIXYZTEH`W__DZH{jD]iH\TjHUjI]H\T]HKG]DEXYZ~_T]iHWE\H\TjHcOaKGEeT]EHcEGYD_HcD]HIEHKDE\DZD]H]TIaHeW]HcEFT]XYZ]IaFi WE\HEITjDE\Ha]D[FTH\DjD_XH\DEDYZiHG]H\ITH_]DWTEHQa[ZDEIXFDEXHcTIFT]ZIEH\ITHgW]hDHF]D[TEHc~]\TEHWE\HG]H\ITHTIEZTIjIXYZTHgTJ‧_hT]WE[ TIET]HTReTXXIJTEHQWX_T[WE[H\T]HOYZD]IDHDWX[T_ITaT]FHXTIEHc~]\TbHSIJT]XTHDEFIDjT]IhDEIXYZTHQEXYZ_V[TH\T]HjIFH\TEHPD_T]DEHJT]]~E\TFTE {][DEIXDFIGEHU_HSDI\DiH\ITHIEH\T]HP]D[‧\ITHJGEHRIETHU_TJTEH[I`aT_FTEiHZDFFTEH\ITXT]HXh]W`T__GXTEH|_DEWE[HTIEH]D\IhD_TXHUE\TH]T]TIFTFb STjHDjT]IhDEIXYZTEHNTZTIj\ITEXFHcD]HTXHIEH\WXDjjTED]]TIFHjIFHG]XhW]TEHRN{XHWE\H\IJT]XTEHQ[TEFTE[]W``TEH[T_WE[TEiH\W]YZ XG][aV_FI[H[T`_DEFTH=T]XYZc‧]WE[HWE\HWEFT]H\TjHaD\TEXYZTIEI[TEH=G]cDE\H\T]HSTjGh]DFITHWE\H\T]H`TEXYZTE]TYZFTH\ITHMGXTEaMTJG_WFIGE NTG][ITEXHWE\H\ITH{]DE[TaMTJG_WFIGEH\T]Hch]DIETHeWHIEXeTEIT]TEbHRTGhGEXT]JDFIJTHK]TIXTHIEH.DXZIE[FGEHZDFFTEHJT]XWYZFiH\ITHIEH\T]H[T]I][I[TE UIEXDjhTIFHQXITEXHIXG_IT]FTHMT`W]_IhHKI][IXFDEHT]TEaD__XHeWHTIET]HDjT]IhDEIXYZTEHUIEa_WfeGETHeWH[TXFD_FTEHWE\HDWaH\ITHDjT]IhDEIXYZTE =G]XFT__WE[TEHJGEH^RDFIGEHgWI_\IE[bHDWXeW]IYZFTEbH.DXHcI]h_IYZH\ITHDjT]IhDEIXYZTHSI`_GjDFITH]TcG[TEHZDFFTiHDWX[T]TYZETFHIEHKI][IXFDEH\IT XG[TEDEEFTHPW_`TEaMTJG_WFIGEHDWXeW_‧XTEHWE\H\TEH|]VXI\TEFTEH\ITXT]HMT`W]_IhiH\TEHKI][IXTEHQXhD]HQhDdTciHeWHXF~]eTEiH\T]HD_XHTIEeI[T]H\T] \G]FI[TEH|GFTEFDFTEHhTIEH`]GjIETEFTXH`IF[_IT\H\T]HXGcdTFIXYZTEH_~Z]WE[XY_IHWTiHdDHEIYZFHTIEjD_H`IF[_IT\H\T]HKGjjWEIXFIXYZTEH|D]FTIHcD]i ]_TI]FHWE[TcIfb gTIHIZ]TjHS]DE[iHeWXVFe_IYZTH|GXIFIGETEHeWHGhhW`IT]TEiH\ITHTIET]XTIFXH\ITHMWXXTEHDWaH\ITHIZETEHJT]]_IT]TETH_‧\T]DFIGEHeW]~Yh[T\]VE[Fi DE\T]T]XTIFXH\ITHCZIETXTEHTIET]HX}XFTjDFIXYZTEHUIEh]TIXWE[HDWXHD__TEH[IjjT_X]IYZFWE[TEHDWX[TXTFeFHZVFFTEiHcD]TEH\ITHDjT]IhDEIXYZTE UjIXXV]THDWYZHIEHcX]ThIXFDEH]I[G]GXHJG][T[DE[TEbHOITHZDFFTEHXIYZH\D]TIH\TEH\G]EHWE\H\DXH`IfF]DWTEH\TXHPDjT]_DEa=T]TZ]T]XHLX_DjHKD]IjGc eW[TeG[TEiH\T]HXIYZHIjjT]ZIEHDWaHTIETH`DXXTHJGEHXdH`I__IGETEHcEFT]FDETEHXF~FeTEHhGEEFTb LEHKI][IXFDEiHcGH\ITHcOHQI]H_G]YTH~]T]H\ITHgDXIXH`DEDXHJT]a~[FTiHjD[HIZ]TH_G]\T]WE[iHTIETHeWXVFe_IYZTHQcDYXab]T]cDYZWE[Ha~]H\ITH[DEeT MT[IGEHTIEeW]IYZFTEiH\TEHDEXGEXFTEH]TYZFHJT]F]V[_IYZTEHOFDDFXYZTaHQhDdTcHjIFHM~YhXIYZFHDWaH\DXHIjjT]HEGYZH]TDYZF_IYZTHNTcIYZFH`GXhDWXHeW TIET]HXYZ]GaaTEHQ]_TZEWE[HJT]DE_DfFHZD]TEbHSDfH\ITXT]HTZTjD_I[TH|]VXI\TEFH\T]HQhD\TjITH\T]H.IXXTEXYZDaFTEiH\T]HDWYZHIjHQWX_DE\HTIE [TcIXXTXHQEXTZTEHZDFFTiHIEHTIETEHOWj`aHaDjI_IV]T]HKG]]W`FIGEHJT]XF]IYhFHcD]iH\DfHT]HXIYZHDEH\TEH‧aaTEF_IYZTEH_IEDEeTEHXYZDj_GXH]T]TIYZT]FTi ZVFFTHEITjDE\HXYZGYhIT]TEH\~]aTEiH\TEEHIEH\ITXT]H[IEXIYZFHcW]\TH\T]HKI][IXTHJGEHXTIETEHKG__T[TEHcTIFH~]T]F]GaaTEbH.ITH\TjHDWYZHXTIiHTXHhDj IEHgIXYZhThHeW]H^PW_`TEaMTJG_WFIGEbbH|_~E\T]E\THgDE\TEHjTIXFHWX]ThIXYZT]H[T]hWEaFHaIT_TEH~]T]H\ITH[DW`FXFD\FHZT]HWE\HJT]c~XFTFTEH\T]TE \TEF]WjbHSITH|G_IeTIHT]cITXHXIYZHD_XHjDYZF_GXiHWE\HQhDdTcHa_~YZFTFTHEDYZH`GXhDWb Q_XHRDYZaG_[T]HIjH|]VXI\TEFTEDjFH]IfHIjHDZ]HXYYdH\T]H]G]WXFTHLEF]I[DEFHKW]jDE]ThHgDhIdTciHZD_]HKI][IXTiHZD_]HcX]ThTiH\ITH`DYZFHDEHXIYZb {]H\ITHQjT]IhDET]HjIFH\ITXTjH.TYZXT_HTIETHXTZ]H[_~Yh_IYZTH.DZ_H[TF]GaaTEHZDFFTE^H.DXHgTXFTYZ_IYZhTIFiH=T]WEF]TWWE[HJGEHOFDDFX[T_\T]EHWE\ QWX]DWHTIET]H]Daa[IT]I[TEH`DaIDHDE[TZFiHXGH~]T]F]DaHgDhIdTcHXTIETEHWE[_~Yh_IYZTEH=G][VE[T]H]TIHcTIFTjbH|]GHaG]jDH_ITfHT]HecTI {``GXIFIGEX`D]FTITEHeWiHD]T]HD_XHTXHIjHSTeTj]T]HXYYeHeWH|D]_DjTEFXcDZ_TEHhDjiHXG][FTHT]H\Da~]iH\DfHXTIETH_]DhFIGEiH^Qha\ZG_biH\DXHZTIfF ^[T__T]H|aD\biH~]T]HXVjF_IYZTHQ][TG]\ETFTEXIFeTHJT]a~[FTb OTIETEHDjT]IhDEIXYZTEHN‧EET]EHX`IT_FTHT]HTIETEH~]_TEHOF]TIYZiHIE\TjHT]HIZETEH`_‧Fe_IYZH\ITHRWFeWE[H\TXHWaFcDaaTEXF~Fe`WEhFTXH`DEDXHDj MDE\TH\T]H[DW`FXFD\FHgIXYZhThHTEFeG[bH[IEFT]H\ITXT]HNTXFTH`DF]IGFIXYZT]HQWa_TZEWE[HcW]\TH\T]HUIEa_WfH`GXhDWXHJT]jWFTFiHcGHjDEH\T]HcOa |]VXTEeHTIETEHMIT[T_HJG]XYZIT]TEHcG__FTbHLEH.I]h_IYZhTIFH[IE[HTXHgDhIdTcHJT]jWF_IYZHWjH\ITHQWa]TXXT]WE[HXTIETXHgW\[TFXiH\TEEHcTEI[HX`VFT] aDE\HT]HXIYZHeWHTIETjHKGj`]GjIfHjIFH\TjH|TEFD[GEH]T]TIFfH\ITH|DYZF[T]~Z]TEHa~]H`DEDXiH\DXHEWEjTZ]HGaaIeIT__HeWjH^P]DEXIFHCTEFT]b ZT]D][TXFWaFHcW]\TiHcW]\TEHXYZ_IYZFHWE\HTIEaDYZHJT]\]TIaDYZFbHSITH`DXXTH\T]HhI][IXIXYZTEHgTJ‧_hT]WE[iH\ITHIEHU]jDE[T_WE[HTIEF]V[_IYZT] MGZXFGaaJG]hGjjTEHIEHQ]jWFH_T]FiH\~]aFTH\DJGEHdT\GYZHEW]HIEH[T]IE[TjH`DfTH`]GaIFIT]TEb LEH\ITXTjH]DWZTEHNT]I][X_DE\iHJGEH\TjH\ITHjTIXFTEHUW]G`VT]HEIYZFHTIEjD_H\TEHRDjTEHhTEETEiHhDjHTXHEWEjTZ]HeWHTIET]HXT_FXDjTE jI_IFV]IXYZTEHKGTRIXFTEeHecIXYZTEH\TEH]TI\TEHTZTjD_I[TEHOW`T]jVYZFTEbHSITHMWXXTEHJT]a~[FTEHEVj_IYZHIZ]T]XTIFXH/HTFcDHJIT]eI[HKI_GjTFT]HJGE gIXYZhThHTEFaT]EFH/H~]T]H\ITHgDXIXH^KDEFbHWE\HXFDE\TEHIjHgT[]IaaiHIjHVWfT]XFTEHO~\TEiHDjHMDE\TH\TXHFW]]W_TEFTEH_T][DEDagTYhTEXiHTIETE eWXVFe_IYZTEHOF~Fe`WEhFHa~]HIZ]THOF]TIFh]VaFTHTIEeW]IYZFTEb SITH|]VXTEeHJGEHIX_DjIXFIXYZTEH|D]FIXDETEHIjHMDXYZFaPD_iH\DXHKI][IXFDEHWE\HPD\XYZIhIXFDEHJT]]IE\TFiH\DXH]T\]GZ_IYZTHQWaFDWYZTEHTIETX KGjjDE\TW]XH\TXH[TI_I[TEHK]IT[TXiH\TXH`W__DZHQ]\W__DZiH\T]H_VE[XH\T]HRG]\[]TEeTHQa[ZDEIXFDEXHTIEHODjjT_XW]IWjHJGEHcX]ThTEiHKI][IXTEi PD\XYZIhTEHWE\HDWYZHQ]D]T]EHa~]HTIETHETWTH|ZDXTH[TcD_FXDjT]HQWa_TZEWE[HeWXDjjTEF]GjjT_FiH_VfFH]TIH\TEH]T[IT]TE\TEHSTX`GFTEH\T]HNcOa MT`W]_IhTEHgTa~]YZFWE[TEHWjH\ITHOFD]I_IFVFHIZ]T]HVE\T]HWE\H\DXHb]T]_T]TEHIZ]T]HDWFGh]DFIXYZTEHMT[IjTHDWahGjjTEb _]DEYIXH]IYZFTFHXTIETEH\TI[TXFGYhHDWaH\DXHMDXYZFaPD_bH^[IT]HJT][TZFHhTIEHPD[HGZETH]_WFI[TH\cIXYZTEaV__TbiHhGjjTEFIT]FHT]iH^WE\HJIT__TIYZF ZD]TEHQjT]IhDET]HWE\HMWXXTEHTE\_IYZH]T[]IaaTEiH\DfHTXHF‧]IYZFHWE\HeWFITaXFHXYZV\_IYZHa~]H\ITHTI[TETEHJIFD_TEHLEFT]TXXTEHcV]TiHcTEEHXITHIZ]T SWT]T_TEHWjH\TEHgTXIFeHJGEHU]\‧_HWE\HU]\[DXHDWaH\ITHO`IFeTHF]IT]TEbb ^.T]aTEHOITHTIETEHg_IYhHDWaH\ITH\TWFXYZTEH|GXIFIGETEHIEHQa[ZDEIXFDEHWE\HJG]HD__TjHDWaHKWE\WXiHcGH\ITHgWE\TXcTZ]HGaaTE]D]HIEHgT\]VE[EIX [T]VFbiHcTE\TFHT]HXIYZHDEHjIYZbH^UIET]HLZ]T]H=T]FTI\I[WE[XjIEIXFT]HZDFH\GYZHTIEjD_HT]h_V]FiHSTWFXYZ_DE\Hc~]\THDjH[IE\WhWXYZHJT]FTI\I[Fb {aaTE]D]HZDFH\ITXT]H`DEEHEITHTIETEHg_IYhHDWaH\ITHDE\hD]FTHQXITEXH[TcG]aTEbHRIYZFHSTWFXYZ_DE\iHXGE\T]EHMWf_DE\iH\TXXTEHOIYZT]ZTIFXJG]aT_\ ]IXHeWjHQjWHSD]IDH]TIYZFiHcV]TH\W]YZH\ITH`DYZFT][]TIaWE[H\T]HPD_T]DEHG\T]HDE\T]T]HIX_DjIXYZT]HURF]TjIXFTEHIEHKD]W_HWEjIFFT_]D]H]T\]GZFb UIEHDWXWaT]E\T]HIZD\HMIYZFWE[HRG]\TEHh‧EEFTHXIYZiHcTEEHcI]HWEXT]TH|ZDEFDXITHX`IT_TEH_DXXTEiHcITHTIEH__VYZTE]]DE\H]IXHeWjHc]D_iHdDH]IXHeW] .G_[DHaG]F`a_DEeTEiHJGEH\T]HOIFWDFIGEHDjHKDWhDXWXiHcGHTIEHXYZ_TIYZTE\T]Hg~][T]h]IT[H]T]TIFXHIjHNDE[THIXFiH[DEeHeWHXYZcTI[TEbb =GEHQEaDE[HDEiHXGHa~[FH_]DEYIXHjIFH]TjT]hTEXcT]FT]H{aaTEZTIFHZIEeWiHZD]THT]HXIYZH[TcWE\T]FiHDWXHcT_YZTEHN]~E\TEHgD]DYhH{]DjDH\DX XF]DFT[IXYZTHOYZcT][TcIYZFHQjT]IhDXHDWXH\TjHL]DhHEDYZHQa[ZDEIXFDEHJT]_D[T]EHWE\H\ITH\G]FI[THP]W``TE`]VXTEeHjDXXIJHJT]XFV]hTEHcG__Tb RGYZHXYZcT]T]HXTIH\ITHUIE]IYZFWE[HTIETXHQ_|QKaKGjjDE\GXHWEFT]HMIYZD]\H[G_]]GGhTHeWHT]h_V]TEiH\DXH\ITHNTaDZ]HZT]DWa]TXYZc‧]TiH\IT WE]T]TYZTE]D]TH`DXXTHJGEHMeYH`I__IGETEH|DhIXFDEIiH\T]TEHQ]jTTHeW\TjH~]T]H\ITH]IX_DE[HTIEeI[THIX_DjIXYZTHQFGj]Gj]THJT]a~[FiHIEH\ITXTE DWXXIYZFX_GXTEH_T_\eW[H^UE\W]IE[H_]TT\GjbHTIEeW]TeITZTEb ^.DEEHcI]\HjDEHIEH.DXZIE[FGEH]T[]TIaTEiH\DfHQa[ZDEIXFDEH/Hg_DE\_GYhT\hHWE\HIEHXIYZHXT_]XFHJT]hD`XT_FH/HD__TEaD__XHTIE RT]TEh]IT[XXYZDW`_DFeHIXF^H.DEEHcI]\HjDEHIEHDE[_T}HeWH\T]HU]hTEEFEIXH[T_DE[TEiH\DfH\ITHP]D[‧\ITHJGEHRIETHU_TJTEHhTIEHDa[ZDEIXYZTXi XGE\T]EHTIEH~]T]cIT[TE\HXDW\IXYZTXHcEFT]ETZjTEHcD]iHDWYZHcTEEH{XDjDH]IEHD\TEHXIYZHeWH\ITXTjH\TIF`WEhFHIEHI][TE\TIET]H_T_XZ‧Z_TH\TX [IE\WhWXYZHDWaZIT_F^b LYZHjWfHDEHTIETEHKGjjTEFD]H\T]HLEFT]EDFIGED_H[T]D_\HP]I]WETH\TEhTEiHcGHjDEH\DXHXIYZHXFTI[T]E\THUE[D[TjTEFHgD]DYhH{]DjDXHIE Qa[ZDEIXFDEHjIFH\TjHJITFEDjTXIXYZTEH^HWD[jI]TbHJT][_IYZiHIEH\TjH}E\GEHgbHGZEXGEH[TXYZTIFT]FHcD]bHQWYZHIEH=ITFEDjHZDFFTH\ITHOF]DFT[IT
\TXHNTET]D_H.TXFjG]T_DE\HecIXYZTEH\TEH]TI\TEHWEJT]TIE]D]TEHQ_FT]EDFIJTEH\T]H^YGWEFT]aIEXW][TEY}bH[TXYZcDEhFiHecIXYZTEH^XTD]YZHDE\ \TXF]G}bHWE\H^Y_TD]HDE\HZG_\bbHQWYZHDjH`ThGE[HZDFFTEHXIYZH\ITHcOaOF]DFT[TEH/HVZE_IYZHcITHZTWFTH\ITH\W]YZDWXHaVZI[TEHNTET]D_TH|TF]DTWX WE\H`YCZ]}XFD_H/HIjjT]HcIT\T]H\T]HL__WXIGEHZIE[T[T]TEiHTXHXTIHj‧[_IYZHWE\HWEJT]eIYZF]D]H^FGHcIEHZTD]FXHDE\HjIE\XbH/H\ITH[T]eTEHWE\H\IT NTj~FT]H\T]HTRGFIXYZTEHgTJ‧_hT]WE[HeWH[TcIEETEb SDXHcD]HIEH=ITFEDjH[]~E\_IYZHjIf_WE[TEiHWE\HIEH\TEF]D_DXITEHhDjHT]XYZcT]TE\HZIEeWiH\DfHjDEHTXHZIT]HjIFHTIET]HWET]XYZ~FFT]_IYZTE IX_DjIXYZTEHN_DW]TEX[TjTIEXYZDaFHeWHFWEHZDFFTiHa~]H\ITH\ITH|]VXTEeH]TcDaaETFT]HcE[_VW]I[T]HDWaHTIETjHNT]ITFH\TXH^SD]aW_aLX_DjbHTIETj TEFXTFe_IYZTEH_]TJT_H[_TIYZhDjHWE\H\ITHa]GjjTEH`WX_IjTHeWjH^HIFD_HaIHXD]I_HQ__DZH/HKDj`aHDWaH\TEH|aD\TEHQ__DZXbHJT]`a_IYZFTFTb Q_XHIYZHjIYZHJT]D]XYZIT\TiH[TXFTZTHIYZH_]DEYIXiH\DfHjIYZHXGJIT_Hh]IFIXYZTH_]TIj~FI[hTIFHJGEHXTIFTEHTIETXHDjT]IhDEIXYZTEHLEFT]TXXTEJT]F]TFT]X ~]T]]DXYZFHZD]TbHU]H]TD[IT]FHjIFHTIETjHI]GEIXYZTEHVYZT_EbH^Q_XHjI]HLZ]HgTXWYZHDE[Th~E\I[FHcW]\TiHZD]THIYZHjIYZH~]T]HLZ]TEH.T]\T[DE[HWE\ LZ]TH`TIEWE[TEHT]hWE\I[FbiHXD[FHT]bH^Q]T]HETZjTEHOITHEIYZFHDEiH\DfH\T]H\~XFT]THMTD_IXjWXiH\TEHIYZHZIT]HJG]F]D[TiH\T]HJG]ZT]]XYZTE\TE `TIEWE[HIjH.TIfTEH[DWXHG\T]HIjHOFDFTHST`D]FjTEFHTEFX`]IYZFbHOGJIT_HZDFHXIYZHEGYZHEIYZFHJT]VE\T]FiHXTIFHgD]DYhH{]DjDHIjH.TIfTEH[DWX ]TXI\IT]FbHOT_FXDjT]cTIXTHXIE\HTXH\ITHZGZTEH`I_IFV]XiH\ITHD_XHT]XFTH\DeWHETI[TEiHXIYZHJGEH[TcIXXTEH.WEXYZJG]XFT__WE[TEH\T]H=T][DE[TEZTIFHeW JT]D]XYZIT\TEbb O SITH~]]I[TEHU]hWE\WE[TEiH\ITHIYZHIEHgIXYZhThHTIEZG_FTiHcD]TEHcTIFHcTEI[T]HT][IT]I[HD_XH\T]HSID_G[HjIFH\TjHDjT]IhDEIXYZTEHLEXFIFWFX_TIFT]bH_~] TIETEHhI][IXIXYZTEHGW]ED_IXFTEHG\T]H|G_IFIhT]HcV]THTXHGZETZIEHEIYZFH]DFXDjiHXTIETHK]IFIhHDEH\TEH\cDE[XjDfEDZjTEH\TXHgDhIdTcaC_DEXHG\T] XTIETHUEF]~XFWE[H~]T]H\ITHXFDDF_IYZTHUEFj~E\I[WE[Ha]TIj~FI[HeWHVWfT]EbHOGHjDEYZT]H{``GXIFIGET__THcW]\THTIE[ThT]hT]FiHIEHTIEeT_ETEH_V__TE DWYZH\W]YZHQWaF]D[XhI__T]H]TXTIFI[Fb SITHQWXXD[THTIETXH|]GaTXXG]XH\T]HMTYZFXaDhW_FVFHZDFHXIYZHjI]HTIE[T`]V[FbH{]H\ITHQWa_‧XWE[H\T]HOGcdTFWEIGEHD_XHTIETHZIXFG]IXYZT _TZ_TEFcIYh_WE[HeWH]TcT]FTEHXTIiHZDFFTHIYZHIZEH[Ta]D[FiHWE\H\ITHc~FTE\THQEFcG]FHT]ZD_FTEiH^SDXHcD]HhTIEH_TZ_JT]ZD_FTEiH\DXHcD]HTIE =T]]]TYZTEbbH_]~ZT]HZD]THjDEHIEH]TXGE\T]XHh]DXXTEH_V__TEHWET]F]V[_IYZTEH`DYZFjIf]]DWYZXH\W]YZH_GhD_TH|D]FTIaWEhFIGEV]THIjjT]ZIEH\IT `‧[_IYZhTIFHTIET]HgTXYZcT]\TiHTIETXHMThW]XTXH]TIjH|G_IF]~]GHG\T]H]TIjH\TEF]D_hGjIFTTHIEH`GXhDWH]TXTXXTEbHOTIFH\T]HDXIDFIXYZTE cED]ZVE[I[hTIFHXTITEH\T]HDjF_IYZTEHP}]DEETIHhTIETHN]TEeTEHjTZ]H[TXTFeFHWE\H[T[TEH\ITHg]WFD_IFVFH\T]H|G_IeTIH[T]THTXHhTIETEHUIEX`]WYZb UIEH[DW`FjDEEH\T]Hh_TIETEHhI][IXIXYZTEHQ]jTTiH\T]H[T]D\THTIETEHTZ][DE[HIEHMWf_DE\HD]XG_JIT]FHZDFFTiH_ITaT]FTHTIETH\W]YZDWXH`_DWXI]_T QED_}XTH\T]H]WXXIXYZTEHUIEXFT__WE[HeWjHjI_IFV]IXYZTEHUE[D[TjTEFHQjT]IhDXHIEHQa[ZDEIXFDEbHLEH`GXhDWH]TG]DYZFTHjDEHjIFHhDWjHJT]ZGZ_TET] OYZD\TEa]TW\TiHcITH\ITHcOHQ]j}iH\ITHXIYZHDWXH`W]T]HQ]]G[DEeH]TIH\TEH=TFT]DETEH\TXHXGcdTFIXYZTEH_T_\eW[TXHDjH[IE\WhWXYZHEITjD_XHWj I][TE\TIETEHMDFXYZ_D[HG\T]HU]aDZ]WE[X]T]IYZFH~]T]H\ITHP~YhTEHWE\HNTaDZ]TEH\T]H\G]FI[TEHK]IT[a~Z]WE[H]Tj~ZFHZVFFTiHEWEHIZ]T]XTIFXHIEHTIE JT][_TIYZ]D]TXHSI_TjjDH[T]DFTb gTIHD__T]Hb]T]_T[TEZTIFHIZ]T]H.DaaTEHXTITEH\ITHQjT]IhDET]H\T]H`X}YZG_G[IXYZTEHgT_DXFWE[HTIETXH^cD]HGaHDFF]IFIGEbH/HTIETXHQ]EWFeWE[Xh]IT[TX /HDWaHSDWT]HEIYZFH[TcDYZXTEbHOT_]XFH]TIjHOYZTIFT]EH\T]HOGcdTFWEIGEHZD]THXTIET]eTIFH\ITH`X}YZG_G[IXYZTHU]XYZ_DaaWE[H\TEHQWXXYZ_D[H[T[T]TEb \W\TjHcT]\TH\T]H\WXDjjTEZD_FH\T]HQF_DEFIXYZTEHQ__IDEeHIEH\ITXTjHhGEaWXTEHcEFT]ETZjTEiH\DXHecIXYZTEH\T]H]G]WXFTEHK]IT[a~Z]WE[HJGE ^UE\W]IE[H_]TT\GjbHTIET]XTIFXiH\TEH]TZWFXDjTEH|DeIaIeIT]WE[X]Tj~ZWE[TEHJGEHLOQ_HDE\T]T]XTIFXHZIEaHWE\HZT]XYZcDEhTiHTIET]HaDFD_TE \T]]TIf`]G]THDWX[TXTFeFbH_~]H`T\cT\TcHWE\H|WFIEHh‧EETHTXHEW]HJGEH=G]FTI_HXTIEiHcTEEHgD]DYhH{]DjDHDWaHS]VE[TEHXTIET]HNTET]D_TH\ITHcOa P]W``TE`]VXTEeHIjHOThFG]HQ_|QKiHIjHMDWjHQa[ZDEIXFDEj|DhIXFDEiHXFVE\I[HJT]XFV]hTHWE\Ha~]HTJTEFWT__THeWXVFe_IYZTHK]IXTEaV__TH~]T]HhTIET DWX]TIYZTE\TEHMTXT]JTEHjTZ]HJT]a~[Tb UIETHQW\ITEeH]TIH\TjHhI][IXIXYZTEHQWfTEjIEIXFT]HKD\}]]ThHOD]]DdTciH\T]H\TjHP}`WXHEDYZHTZT]HTIETjHPD\XYZIhTEH[_IYZiH]_IT]H]TIHD__T] [T]e_IYZhTIFH\TXHcj[DE[XHGZETHETEETEXcT]FTHLEaG]jDFIGETEbH`IFHdGJID_T]Hb]T]eTW[WE[Xh]DaFHJT]XWYZFTHT]HeWHT]h_V]TEiHcITHXTZ]HXTIEHOFDDF \D]DWaHDE[TcITXTEHXTIiHTIETHgD_DEYTHecIXYZTEHMWf_DE\iHQjT]IhDHWE\HCZIEDHeWHcDZ]TEbHN]DJIT]TE\TH|]G]_TjTHa~]H\ITHMT`W]_IhHKI][IXFDEHcITX T]HcTIFHJGEHXIYZbH_~]H\TEH`IEIXFT]H[D_FHGaaTE]D]H\ITHTI]EIeXYZTH`DRIjTiH^HWTHFGWFHTXFH`GW]H_THjITWRH\DEXH_THjTI__TW]H\TXHjGE\TXH`GXXI]_TXbH/ \DfHIEH\T]H]TXFTEHD__T]H.T_FTEHD__TXHeWjHgTXFTEH]TXFT__FHXTIb
OFT]ETE]DEET]H~]T]H`DEDX `DEDXiHIjHOGjjT]HXYYZ SDXHOFT]ETE]DEET]H\T]HcOQHa_DFFT]FHcIT\T]H~]T]H\TjHhI][IXIXYZTEH^P]DEXIFHCTEFT]bH`DEDXHDjHMDE\HJGEHgIXYZhThbHST]HQE]_IYhH\T]H^OFD]XHDE\ OF]I`TXbHcI]hFH]TIEDZTHDEZTIjT_E\HIEH\ITXT]H]D]]D]IXYZTEHcj[T]WE[HDjHMDE\TH\T]HPDFD]TEc~XFTbH=IT__TIYZFHX`~]THIYZHDWYZH\TXZD_]HTIE XFV]hT]TXHNTa~Z_H\T]H=T]]WE\TEZTIFHWE\HOG_I\D]IFVFHjIFH\TjHF]DEXDF_DEFIXYZTEH=T]]~E\TFTEiHcTI_H\T]HTI[TETiHTW]G`VIXYZTHKGEFIETEFiHIEH\TE jDEHXGH[]GfTH[GaaEWE[TEH[TXTFeFHZDFFTiH\W]YZHXTIETH~]T]XF~]eFTHQWXcTIFWE[HEDYZH{XFTEHTIETjHUEFa]Tj\WE[X`]GeTfHWEFT]_IT[FbHSIT UW]G`VIXYZTHcEIGEiH\ITHEIYZFHIEH\T]HD[THIXFiHXIYZHeWHTIET]H[TjTIEXDjTEHQWfTE`G_IFIhiH[TXYZcTI[TH\TEEHeWHTIET]HhGG]\IEIT]FTEHOF]DFT[IT \W]YZeW]IE[TEiHT]XYZTIEFH/HJGEH\TEHN_TFXYZT]EH\TXH|DjI]HDWXH]TF]DYZFTFH/HcITHTIETHXYZI__T]E\THOYZIjV]Tb =IT__TIYZFHWEFT]_IT[THIYZHTIET]HQWFGXW[[TXFIGEiHD]T]H\ITHOG_\DFTEH\TXHNekFZHQI]HUR`T\IFIGED]}H.IE[iH\ITHIYZHF]TaaTiHXYZTIETEHDWXHTIETj DE\T]TEH[G_eH[TXYZEIFeFHD_XHIZ]THKDjT]D\TEHJGEH^L]DHIH_]TT\GjbiH\ITHjI]HIEHgD[\D\HZVWaI[HDWaH\ITHRT]JTEH[IE[TEbHLXFHTXHEW]HTIEH[~EXFI[T] \WaD__HG\T]H_IT[FHTXHDjHX}j`DFZIXYZTEHQWaF]TFTEH\T]HWEXH]TF]TWTE\TEH{aaIeIT]TiH\DXXHIYZHcIT\T]H\ITHhDjT]D\XYZDaF_IYZTH=T]]WE\TEZTIF Tj`aIE\TiH\ITHXIYZHTIEXFHIEH=ITFEDjHTIEXFT__FTiHcTEEHcI]HjIFH\TEHcOH`D]IETXHG\T]H\TEHOG_\DFTEH\T]HMXFHCDJHWEFT]H\TEHgTXYZWfH\TXH=ITFYGE[ [T]ITFTE^ LEH`DEDXHXTZTEH\ITH.DYZTEHJGEHTReTXXIJTEHKGEF]G__TEHD]iH\ITHIEH\T]Hcj[T]WE[H\T]H^N]TTEH\GETbHJGEHgD[\D\HIEHaDXFHZ}XFT]IXYZT] QEX`DEEWE[HXFDFFaIE\TEbHSDXHKDjT]DFTDjHhDEEHWE[TZIE\T]FHXTIET]HQ]]TIFHEDYZ[TZTEHWE\HIEHD__T]HMWZTH\DXHgT_D\TEH\T]HjVYZFI[TE P]DEX`G]FjDXYZIETEHCHMeHN_G]TjDXFT]HaI_jTEiH\ITHDjHMDE\TH\T]HMG__]DZEHDWa[T]TIZFHXIE\b ST]H|W]_IYHQaaDI]XH{aaIYT]H_V\FHjIYZHeWHTIETjHDWXa~Z]_IYZTEHgT]IYZFHIEHXTIETEHg]ITaIE[HMGGjHTIEbH`I_IFV]IXYZTHNTZTIjEIXXTH[I]FHT]HEDF~]_IYZ
EIYZFH`]TIXiHD]T]HIYZHT]aDZ]TH\GYZiHcITHWETEF]TZ]_IYZH\T]HOF~Fe`WEhFH`DEDXHa~]H\ITHDjT]IhDEIXYZTHP]W``TEJT]XG][WE[HIEHQa[ZDEIXFDEH[TcG]\TE IXFbHUIEH[]GfT]HPTI_H\T]HZIT]HJT]XDjjT_FTEH`DEEXYZDaFTEHjDYZFHIEH\T]HMT[T_HTIETH\cIXYZTE_DE\WE[HIEH\T]HeTEF]D_TEH`I_IFV]]DXIXHJGEHgD[]Dj ‧XF_IYZHJGEHKD]W_bH\WjHPTI_HD]T]Ha~Z]FH\T]HP]DEX`G]FHDWYZH\I]ThFHIEH\ITHKDj`aeGETEiHG]H\ITXTHXIYZHEWEH]TIHKDE\DZD]iHD_D_D]D\HG\T]HKWED] ]TaIE\TEb ST]HOF~Fe`WEhFHXT_]XFHJT]a~[FH~]T]HTIEHXFVE\I[TXH`I_IFV]`T]XGED_HJGEHMMYYH`DEEbHQWYZHTIEH]T[]TEeFTXHa]DEe‧XIXYZTXHWE\HX`DEIXYZTX KGEFIE[TEFHIXFHZIT]HeW[T[TEbHST]HKGjjDE\TW]HJGEH`DEDXiHCG_GET_H[G_FiHZDFHD_XH|I_GFH\ITHWEFT]XYZIT\_IYZXFTEHP}`TEH[Ta_G[TEHWE\HTXHDWaHjTZ] D_XHNeYYH__W[XFWE\TEH[T]]DYZFbHLEHXTIETH\WXFVE\I[hTIFHaV__FHDWYZHdTETH\IX`D]DFTHgG\TEF]W``TiH\ITHIEHKD]W_HWEFT]H\TjHRDjTEH^LEFT]EDFIGED_ ODaTF}HQXXIXFDEYTH_G]YTbHlLOQ_mHIEHU]XYZTIEWE[HF]IFFbHSITHKGG]\IEDFIGEHTIET]HXGHhWEFT]]WEFTEHKGD_IFIGEiH\T]TEHQWaF]D[HEITH`]VeIXH\TaIEIT]F cW]\TiH\~]aFTHIZjHjDEYZTXH|]G]_TjHDWa[T]TEbHSITHUIEZTIFiH\ITHT]H]TaTZ_I[FiHZDFFTHXIYZH]T]TIFXHIjH\cTIFTEH.T_Fh]IT[H]TcVZ]FiHD_XHT]HIjHDZ] MZnXHDEH\T]HJT]EIYZFTE\TEHgGj]D]\IT]WE[H\T]H]WjVEIXYZTEHU]\‧_aT_\T]HJGEH|_GTXFIHFTI_EDZjHWE\H\D]TIHXYZcT]XFTH=T]_WXFTHT]_IFFb gTIHD__T]Hcj[VE[_IYZhTIFHZDFHjI]H\T]H|]TXXTGaaIeIT]HEIYZFHJT]]DFTEiHcITHT]HXIYZH\TEHcTIFT]TEH=T]_DWaH\TXHQa[ZDEIXFDEaUE[D[TjTEFXHJG]XFT__Fb N_TIYZcGZ_HhDEEHIYZHcIT\T]HTIEjD_HaTXFXFT__TEiH\DfH]TIH\T]HhVj`aTE\TEHP]W``THTIETHcTIFHXhT`FIXYZT]THgTW]FTI_WE[HJG]ZT]]XYZFHD_XH]TIHXG jDEYZTEH\TWFXYZTEH|D]_DjTEFD]IT]EiH\ITHcTIFHJGjHOYZWfH\T]DFFIT]TEbHSITHU]ETWT]WE[H\T]HKGEeTXXIGEiH\ITHgDXIXH`DEDXHcTIFT]ZIEH\W]YZH\ITHcO QI]H_G]YTHeWHEWFeTEiHhDEEHIEHIZ]T]HgT\TWFWE[H[D]HEIYZFH~]T]XYZVFeFHcT]\TEbHOTIFH\ITHFT]]TXF]IXYZTEH\W[DE[XcT[THEDYZHQa[ZDEIXFDEiH\ITH~]T] \TEHKZ}]T]a|DfHWE\H~]T]HSWTFFDiHD_XGH~]T]HWE]WZI[TXH`DhIXFDEIXYZTXHOFDDFX[T]ITFiHEDYZHKDE\DZD]HWE\HKD]W_Ha~Z]TEiHJT]EIYZFTE\TEHb]T]aV__TE \W]YZHIX_DjIXYZTH_]TIXYZV]_T]HDWX[TXTFeFHXIE\iHIXFH\ITHDF_DEFIXYZTHQ__IDEeHa~]H\TEHP]DEX`G]FHIZ]TXHRDYZXYZW]XHDWaH\TEHWaF]DWjiHDWaH\IT __W[`_VFeTiHD]T]HDWYZHDWaH\ITHOF]DfTEHWE\HUIXTE]DZEXYZITETEH\T]HTZTjD_I[TEHOGcdTF]T`W]_IhTEH\TEF]D_DXITEXHDE[TcITXTEbHOG[D]HIEH\TEH[VaTE TFF_DE\XHWE\HNTG][ITEXHcI]\H\ITH=T]XG][WE[HDWX[TXYZIaaFb =G]HD__TjHD]T]HjWfH\ITXTXH[TcD_FI[THP]DEX`G]FWEFT]ETZjTEH\DXHOFDDFX[T]ITFH\T]HMWXXIXYZTEH_‧\T]DFIGEHIEHQEX`]WYZHETZjTEbHSD\W]YZ TEFXFTZFHecDE[X_VWaI[HTIETH[T[TEXTIFI[THQ]ZVE[I[hTIFiHTIETHaG]YIT]FTHKGG`T]DFIGEHecIXYZTEH\TEHTIEXFI[TEH[]GfTEHNT[ET]EH\TXHKD_FTEHK]IT[TXb SDXHDjT]IhDEIXYZTHKGjjDE\GHIXFHDWaHTIEH[TcIXXTXH.GZ_cG__TEH`GXhDWXHDE[TcITXTEiHWjHXTIETHDjH[IE\WhWXYZHTE[D[IT]FTEHP]W``TEHjIFH\Tj WE[TZTW]TEHjDFT]IT__TEHQWacDE\HTIET]HjG\T]ETEHQ]jTTHWE\H\T]TEHDWa[T]_VZFT]HG[IXFIhHeWHJT]XG][TEbHSITHMWXXTEHIZ]T]XTIFXHZD]TEHD__TX LEFT]TXXTH\D]DEiH\DfH\ITHWjHQjT]IhDH[TXYZD]FTHQF_DEFIXYZTHQ__IDEeH\W]YZH\ITH]D\IhD_TEHIX_DjIXYZTEHK]VaFTiH\D]WEFT]H\ITHPD_T]DEiHD]T]HDWYZH\IT |D]FIXDETEH\T]HWX]ThIXYZTEH^[Ie]aTaPDZ]I]biH\ITHIZ]TEHUIEa_WfHDWaH[DEeH\TEF]D_DXITEHDWX\TZETEHj‧YZFTEiHDjH[IE\WhWXYZHaTXF[TED[T_FHcI]\b ST]HJGEHgD]DYhH{]DjDH]T]WaTETH{]T]]TaTZ_XZD]T]HIEHQa[ZDEIHXFDEiHNTET]D_H`YCZ]}XFD_iHZDFHEDYZH\TEHhDFDXF]G`ZD_TEH_G_[TEH\TXHcDZ__GXTE gGj]TEh]IT[TXHXTIET]H=G][VE[T]HWE\H\T]H\DjIFHJT]]WE\TETEH^KG__DFT]D_XYZV\TEbHEWEjTZ]HDWaHTIETHOF]DFT[ITH\T]HOYZGEWE[HWE\ \W]~YhZD_FWE[HWj[TXFT__FiHWjHWEE~FeTH=T]c~XFWE[TEHeWHJT]jTI\TEHWE\H\ITH=T]_WXFTHWEFT]H\TEH\IJI_IXFTEHEIT\]I[HeWHZD_FTEbHU]HFWFH\DXHIEH\T] [GaaEWE[iHTIEH`IEIjWjHDEH=T]F]DWTEHWE\HO}j`DFZITH]TIH\T]HDa[ZDEIXYZTEHgTJ‧_hT]WE[HeW]~YheW[TcIEETEiHF]GFeH\TXHecIE[TE\TEHNT]GFXH\T] g_WF]DYZTiH\DXHIjH^|DXYZFWEcD_IbiH\TjHOIFFTEhG\TRH\T]H|DXYZFWETEiHJG][T[T]TEHIXFb LYZHZD]TH_VE[XFH[TjT]hFiH\DfHIYZH]TIH\TjH^g]ITaIE[bHjTZ]H`IFFTI_WE[TEHJGEHjI]H[T]TiHD_XH\T]HeWXFVE\I[TH`DdG]HXITHjI]H]ITFTEHhDEEbHUX ]TXFTZFHT]TEaD__XHhTIEH\cTIaT_iH\DfHWEXT]HNTX`]VYZHDWa[TeTIYZETFHWE\H\TEHeWXFVE\I[TEHUR`T]FTEH\T]H`I_IFD]}HLEFT__I[TEYTH~]T]XFT__FHcI]\b UIEHKGEFIE[TEFHOG_\DFTEHIEHXDE\[T_]T]HPD]EWEIaG]jHIXFHIEecIXYZTEHIEHTIETjH]ITXI[TEH[DE[D]HDE[TF]TFTEbHSITHNLXHETZjTEHWEFT]H\T] cTIF[TX`DEEFTEH\T_F`_DETHIZ]THKDj`aDWX]~XFWE[Ha~]H\TEH]TJG]XFTZTE\TEHUIEXDFeHIEHUj`aDE[bHOITHXIE\HIEHTIETjH\IYZFTEHKD]]TTHDWa[TXFT__FbHSIT ]_TIXYZcT]TEHhW[T_XIYZT]TEH.TXFTEHZD]TEHXITH]T]TIFXHWj[TXYZED__FbHRWEHaIRIT]TEHXITHEGYZH\TEH~]]I[TEHgD__DXFHDEHIZ]TjHNW]FHWE\HZT]TEH\TE JIT_HeWHXYZcT]TEHMWYhXDYhHDWaH\TEHM~YhTEbH^.TEEHTIET]HJGEH\TEH`VEET]EHIjHXFTI_TEHNT]I][X[T_VE\THeWH_D__HhGjjFiH]_TI]FHT]H\GYZHcITHTIE `DIhVaT]HZI_a_GXHDWaH\TjHM~YhTEH_IT[TEbiHcTE\THIYZHTIEiHWE\HEITjDE\HcI\T]X`]IYZFHjI]b Q_XHIYZHjIYZHeW]H\TIFH\TXHQa[ZDEIXFDEaK]IT[TXH[T[TEH\ITHOGcdTFWEIGEHDWaH\TEHTRF]TjH]TXYZcT]_IYZTEHOFTI_`aD\TEH\T]H`W\dDZI\IEHj~ZXDj aG]F]TcT[TEHjWfFTiHZDFFTEHcI]HWEXT]H[TXDjFTXHNT`VYhHDWaH`DW_FIT]THWE\HUXT_H[T`DYhFbHLjjT]HcIT\T]H`DXXIT]FTHTXiH\DfHcI]HJGEHWEXT]TE h_TIETEiHh]VaFI[TEH|aT]\TEHD]XFTI[TEHjWfFTEiHcTI_H\ITH[VE[THeWHXFTI_HDWaXFIT[TEHWE\H\ITHK]DaFH\T]HPIT]TH~]T]aG]\T]FHZVFFTEbH.I]H`a_T[FTEH\DEE \ITHOYZcVEeTH\T]HM‧XXT]HeWH`DYhTEHWE\HWEXHDEH\TEHXYZcIT]I[XFTEH|DXXD[TEHJGEHIZETEHZGYZeITZTEHeWH_DXXTEbHQ]T]HRQP{aP]W``TE \W]YZhVjjTEHcGZ_HEW]HIEHTRF]TjHXT_FTETEHQWXEDZjTaV__TEH\ITXTHeT]h_~aFTFTH.I_\EIXHWE\HXIE\H\D]TIHDWaHIZ]TH[W]XYZ]DW]T]HDE[TcITXTEb T\TEaD__XHcV]TEH[T`DEeT]FTH_DZ]eTW[TH/HG]HXITHEWEH`D]\T]iHSIE[GiH.G_aHG\T]H.ITXT_HZTIfTEH/Ha~]H\ITXTXHPT]]DIEHFGFD_HWE[TTI[ETFb SITHDjT]IhDEIXYZTEHOG_\DFTEiH\ITHIZ]THM~XFWE[HOF~YhHWjHOF~YhHT][VEeFHZD]TEiHcI]hTEH`_‧Fe_IYZHXGHD]YZDIXYZHWE\HT]XFD]]FHcITHTIET [T`DEeT]FTHMIFFT]F]W``TH\TXH`IFFT_D_FT]XbHLZ]THNTXIYZFT]HXIE\H/HcGZ_H]TIH\TjHNT\DEhTEiHcT_YZTH`~ZXD_HWE\HNTaDZ]HIZETEH]TJG]XFTZTEH/HXTZ] T]EXFH[TcG]\TEbH|_‧Fe_IYZHaV__FHjI]HTIEiHcGHIYZHTIETHVZE_IYZH]TcT[WE[XWEaVZI[THQ]jTTHXYZGEHTIEjD_H[TXTZTEHZDFFTbHSITHNLXiH\ITHIEH\Tj DWX[TXYZDYZFTFTEH[DE[D]HcITHIEHTIET]HN]W]THjDXXIT]FHXIE\HWE\HXIYZHDEXYZIYhTEiHIZ]THN_G]TjDXFT]HeWH]TXFTI[TEiH[_TIYZTEHeWjH=T]cTYZXT_E dTET]HNTX`TEXFT]D]jTTHDWXHPGEHWE\H[T]]DEEFT]HU]\TiH\ITHDjHMDE\TH\T]HYZIETXIXYZTEHMTXI\TEeXFD\FHoIDEHDWa[T]TIZFHXFTZFiHWjH\TEHT]XFTE []GfTEHN]~E\WE[XhDIXT]H\TXHMTIYZTXH\T]H`IFFTiHSIEHoIH[WDE[\IiHDWYZHdTEXTIFXH\TXHPG\TXHD_XHTI][D]\THeWHXYZ~FeTEb
URG]eIXjWXHDWaH\TjHgT][HOD_GjGEX {XYZiHIjHOGjjT]HXYYZ LEHFITaT]HSWEhT_ZTIFHXIE\HcI]HIEH{XYZHDE[ThGjjTEbHcEXT]HhI][IXIXYZT]HgTF]TWT]HWE\HSG_jTFXYZT]H{]GX]ThH/H\ITHgT]WaX[DFFWE[HcI]\HZTWFTHD_X ^_IRT]bH]TeTIYZETFH/HhDEEFTHXIYZHIEH\TjH\~XFT]TEHNDXXTE[TcI]]H[WFHDWXbHU]H]]DYZFTHWEXHIEHTIETjHT]]V]j_IYZTEHSWD]FIT]HWEFT]iH\DXH\TEHRDjTE ^\THWRTbHF]W[iHWE\H[D]HWEXH\TEH\]IE[TE\TEHMDFiHhTIETEHEVYZF_IYZTEHO`DeIT][DE[HeWHWEFT]ETZjTEbH.I]HXTITEHZIT]HEVj_IYZHIEHTIET]H[GYZ]W][ \T]HK]IjIED_IFVFiH\TXHS]G[TEZDE\T_XHWE\HJG]HD__TjHDWYZHj‧]\T]IXYZT]HTFZEIXYZT]HO`DEEWE[TEHDE[T_DE[FiH\ITHIEH]T[T_jVfI[TEHQ]XFVE\TE ecIXYZTEHKI][IXTEHWE\HcX]ThTEHDWX[TF]D[TEHcT]\TEbHSITHOFD\FH{XYZiHjIFHXdYHYYYHUIEcGZET]EH\ITHecTIF[]‧fFTH{]FXYZDaFHKI][IXFDEXiHIXFHIEHTIET ]ITXI[TH`W_\TH[T]TFFTFHWE\HcI]\HIjHO~\TEHJGEH\]TIHXFTI_TEH_T_XZ‧ZTEH~]T]]D[FiH\ITHcI]HeWH\ITXT]HX`VFTEHOFWE\THEIYZFHjTZ]HT]hTEETEHh‧EETEb `IFH\TjHZ‧YZXFTEH\ITXT]HgT][TiHPDYZFaIaOW_T}jDEH[TEDEEFiHJT]]IE\TFHXIYZHTIETHXT_FXDjTHT[TE\TiH\ITHIEXHaT]EXFTHQ_FT]FWjHJT]cTIXFbHQE \ITXTjHKEGFTE`WEhFH\TEF]D_DXITEXHZDFFTEHXIYZH\ITHWEFT]XYZIT\_IYZXFTEH]T_I[I‧XTEH=G]XFT__WE[TEHD][T_‧XFiHZTI\EIXYZTXHOYZDjDETEFWjiH\ITHTZ]T
\D]DFZWXF]DXiH\ITH\WD_IXFIXYZTEH=G]XFT__WE[TEH\T]H`DEIYZVT]iH\T]HPZT]DJD\DagW\\ZIXjWXHWE\H\DEEH\ITHETXFG]IDEIXYZTH_G]jH\TXHCZ]IXFTEFWjXb QjHUE\THZDFH\T]HLX_DjHD__TXH~]T]_D[T]FiHD]T]H\ITH`}FZTEH\T]HDZ]FDWXTE\THcW]\TEHEIYZFHDWX[T_‧XYZFbHOGH]_TI]FHIEH\T]H|T]XGEH\TXHZT]]VIXYZTE K‧EI[XHOD_GjGEiH\T]HIjHKG]DEHD_XH|]G`ZTFHWE\H=G]_VWaT]H`GZDjjT\XH[TTZ]FHcI]\iH\ITH]I]_IXYZTHb]T]_ITaT]WE[H]TcDZ]Fb ST]HRDjTH^{XYZbHIXFHDE[T]_IYZH\D]DWaHeW]~YheWa~Z]TEiH\DfHOD_GjGEHG\T]HOW_T}jDEHeWH_~fTEH\TXHEDYZHIZjH]TEDEEFTEH_T_XTEXH\TE a]WYZF]D]TEHgG\TEHXGH_DE[THjIFHXTIETEH{YZXTEH[T`a_~[FHZDFFTiH\DfHIZjH\T]H`~ZTHeWJIT_HcW]\THWE\HT]HXTIETHQ]]TIFHjIFH\TjHQWX]WaH^YZGXYZbH/ TXHIXFH[TEW[H/HT]jDFFTFHTIEXFT__FTb Q_XHIYZHIjH[GFT_H\THWRTHTIETHXYZjW\\T_I[TiHD]T]HTRF]TjH[T]VWjI[THOWIFTH]TF]DFiH\T]TEH~]T]]]TIFTXHgTFFHjIFHTIETjH]Ta_TYhFTEHPWYZ eW[T\TYhFHcD]iHhDjHjI]H\T]HQWXX`]WYZHOD_GjGEXHIEH\TEHOIEEbHLYZH_ITfHjIYZHjIFH\TjH.G]FH^YZGXYZbHT]XYZ‧`aFHDWaH\ITHIT[THaD__TEHWE\ JT]XDEhHIEHTIETEHT]_‧XTE\TEHPITaXYZ_Dab O SITH_DZ]F\DWT]HJGEHgIXYZhThH]IXH{XYZHcD]HWEXHaV_XYZ_IYZHjIFHDYZFHOFWE\TEHDE[T[T]TEHcG]\TEbHLEH.I]h_IYZhTIFHjWfFTEHcI]Ha~EaeTZEHOFWE\TE _DE[H\W]YZHTIETH[]DE\IGXTH_T_X_DE\XYZDaFHhW]JTEiHTIETEH|DfHJGEHNkYYH`TFT]H~]T]cIE\TEHWE\HTIET]HDWXHjI_IFV]IXYZTEHN]~E\TEH[WFHDX`ZD_FIT]FTE OF]DfTHaG_[TEiH\T]TEHJT]XYZ_WE[TET]H=T]_DWaH\T]H.I__h~]HTIET]HcI_\TEHRDFW]iHJG]HD__TjHD]T]H\T]HD]XW]\TEHN]TEeeITZWE[HeWHJT]\DEhTEHcD]iHjIF \T]HGXTaHOFD_IEH\ITHXGcdTFIXYZTEHPTI_]T`W]_IhTEH\TEF]D_DXITEXHeT]XF~YhT_FHZDFFTbHSDjIFHcG__FTHT]HJT]ZIE\T]EiH\DfHXIYZHZIT]HTIETHTIEZTIF_IYZT RDFIGED_IFVFHZT]DWX]I_\TEHh‧EEFTb LEH\ITXT]HeT]h_~aFTFTEHMT[IGEiH\ITHeWjH|DjI]aNT]I][TH~]T]_TIFTFiH]GFTEHXIYZHWEXH[]GfD]FI[THgI_\T]bHSITHNTXFTIEXaG]jDFIGETEH]D[FTEHcIT XW]]TD_IXFIXYZTHOhW_`FW]TEH~]T]HXYZVWjTE\TEHNTcVXXT]EbH.GHIjjT]HTIEH.TI\T`_DFeHDWaFDWYZFTiHZDFFTEH\ITHhI][IXIXYZTEH=ITZe~YZFT]HIZ]T cTIfTEHW]FTEHDWa[TXYZ_D[TEbHSITHjWEFT]TEH`GE[G_TE`aT]\TH[D_G``IT]FTEHWjH\ITH.TFFTbHUXHcD]HTIETHZT]]_IYZTH_DZ]FiHD]T]HEDYZHX`VFTXFTEX eTZEHOFWE\TEHT]_DZjFTHWEXT]THgT[TIXFT]WE[Ha~]H\ITXTH]GjDEFIXYZTH_T_XhW_IXXTb LEHTE\_GXTEHOYZ_TIaTEHWjh]TIXFTEHcI]H\TEHPGhFGhW_aOFDWXTTiHWE\HJGEHEWEHDEHEDZjHWEXHTIETH]T\]GZ_IYZTH_IEXFT]EIXHDWabHQjH{]FXTIE[DE[ JGEH{XYZHcD]HjI]HIjH=G]]TIaDZ]TEHTIEH]T_DFIJHXFDFF_IYZTXH[GFT_HDWa[TaD__TEiH\DXHXIYZHJG]FTI_ZDaFHJGEHWEXT]T]H[T]]T][TH^\THWRTbHWEFT]XYZIT\b .D]WjHcI]HWEXH\G]FHEIYZFHTIEHWD]FIT]FHZVFFTEiHa]D[FTHIYZHWEXT]TEH^_IRT]bHTFcDXHWEcI]XYZbHQ]T]H\T]H_TZEFTH_DYZTE\HD]bH^SG]FHF]TaaTEHXIYZHEW] =T]]]TYZT]HWE\H[W]TEbiHXD[FTHT]iH^WE\HOITHZVFFTEHWjHLZ]THKDjT]DaQWX]~XFWE[H/HcTEEHEIYZFHWjHLZ]HT]TEHa~]YZFTEHj~XXTEbb QjHaG_[TE\TEH`G][TEHXITZFHD__TXHXTZ]HJIT_HZD]j_GXT]HDWXbHSDXH`D]hF[T_VE\THIXFHTIEH]ITXI[T]HgDXD]iHcGH_DWFH{]GX]ThHD__TXHeWHaIE\TEHXTIiHJGE \TEHX~fTXFTEHP]DW]TEH\T]H.T_FHDWXH\T]H{DXTHPW]aDEH]IXHeWjHT]XFh_DXXI[TEH[T]GIEbHSDXH~]T]]TIYZ_IYZTHQE[T]GFHDEHPTRFI_ITEHhGjjF DWXEDZjX_GXHDWXH\TjH]TEDYZ]D]FTEHCZIEDiHcVZ]TE\H\ITHX`GFF]I__I[TEHOFW]j[TcTZ]THJGjHP}`HKD_DXYZEIhGcHDWXHI][TE\cT_YZTEHgDE\TEa Q]XTED_TEHQa[ZDEIXFDEXHXFDjjTEbH_DXFHT]TEXGHJIT_aV_FI[HcITH\DXHYZIETXIXYZTH.D]TEDE[T]GFHXIE\H\ITH\IJT]XTEHMDXXTEiH\ITHXIYZH\G]FHTIE OFT__\IYZTIEH[T]TEbHRT]TEHcX]ThTEiHKI][IXTEiHKDXDYZTEHWE\HPD\XYZIhTEHXIE\H\ITHKG]TDET]HXFD]hHJT]F]TFTEiH\ITHOFD_IEHTIEXFHIEHTIET]H\TX`GFIXYZTE DWETHDWXHIZ]TjHOIT\_WE[X[T]ITFHDEH\T]HjDE\XYZW]IXYZTEHN]TEeTHEDYZH\TEF]D_DXITEHJT]a]DYZFTFHZDFFTb QjHDhFIJXFTEHWE\HT]aG_[]TIYZXFTEH]TFVFI[TEHXIYZHDE[T]_IYZH\ITH^SWE[DETEbbHOGH]TeTIYZETFTH]T]TIFXH\T]HXYZcT\IXYZTH_G]XYZT]HOJTEH[T\IE dTETH]TIE]DXXI[TEH[DEaCZIETXTEiH\T]TEH=G]aDZ]TEHXIYZHeWjHLX_DjH]ThTZ]FHZDFFTEHWE\H\TETEH`DGH\T\GE[HWEFT]H\TjHRDjTEH^[WIbHXG[D]H\TE OFDFWXHTIET]H[TXGE\T]FTEHRDFIGED_IFVFHXGcITH\ITHQWFGEGjTHMT[IGEHJGEHRIE[RIDHIEH\T]HE‧]\_IYZTEHOYZ_TIaTH\TXH[GDE[H[GHeW[TcITXTEHZDFFTb QWYZHcI[W]TEHDWXH\T]H]TEDYZ]D]FTEHYZIETXIXYZTEH.TXF`]GJIEeHoIEdIDE[HF]TFTEHIEHcDYZXTE\T]H\DZ_HDWaiHXTIFHXIYZHIEHIZ]T]H^QWFGEGjTE MT[IGEbH\T]H=G_hX]T`W]_IhH\ITH]TcDaaETFTEHb]T]aV__THWE\HNTcD_FDhFTHZVWaTEbHQWXH|DhIXFDEHcIT\T]WjHXIE\H[]T__H]TjD_FTH]ITXI[THDXFT]H~]T]H\IT KD]DhG]WjaOF]DfTH]IXHEDYZH{XYZH[T_DE[FbHRDYZHUW]G`VT]EiHMWXXTEHG\T]Hch]DIET]EHZIE[T[TEHZD]TEHcI]HJT][T]TEXHQWXXYZDWH[TZD_FTEbHST] X_DcIXYZTHgTJ‧_hT]WE[XDEFTI_HKI][IXFDEXiH\T]HTIEXFHDWaHTIEH=IT]FT_H[TXYZVFeFHcW]\TiHIXFHDWaHTIEH`IEIjWjH[TXYZ]Wj`aFb LjH_]~ZdDZ]HMZZdHZDFFTHIYZHJT][T]_IYZHJT]XWYZFiHJGjHFD\XYZIhIXYZTEHcaT]H\TXH|dDE\XYZH]TIHCZG]G[H~]T]H\ITH|DfXF]DfTH\TXH|DjI]H]IXHeW \ITXTjHODjjT_`WEhFHD__T]HEW]H\TEh]D]TEHNTXYZVaFTHWE\H=T]XYZc‧]WE[TEHeWH[T_DE[TEbHSITHa]WYZF]D]TH_T][DEDaOTEhTHcD]HD_XH\TEF]Wj ]D\IhD_aIX_DjIXFIXYZT]HQ[IFDFIGEH]T]~YZFI[FbHQWXH\T]H{]FXYZDaFHRDjDE[DEHXFDjjFTH\T]HYZD]IXjDFIXYZTHdWE[TH_~Z]T]H\T]H^[Ie]aTaPDZ]I]biH\T] jWX_IjIXYZTEHgTa]TIWE[Xa]GEFiH\T]HXYYMHWEFT]H\TEHgGj]TEH\T]HcOHQI]H_G]YTH\TEHPG\HaDE\bHLjHTZTjD_I[TEHKZDEDFHJGEHKGhDE\HZDFFTEHXIYZ DWYZH\ITHgDXjDFXYZIHDjH_VE[XFTEH[T[TEH\ITHT]\]~YhTE\THb]T]jDYZFH\T]HMGFTEHQ]jTTH\TXHNTET]D_H_]WEXTH]TZDW`FTFb gTIHTIET]HWX]ThIXYZTEHKDj`a[]W``TH\ITXT]HDWaXVXXI[TEHMT[IGEHZDFFTEHXG[D]HIjH`DhIXFDEIXYZTEHN]TEe[T]ITFHdTETHXT_FXDjTEH\TWFXYZTE KGEJT]FIFTEH\T]HXG[TEDEEFTEHODWT]_DE\aN]W``THIZ]THjI_IFV]IXYZTHQWX]I_\WE[HT]ZD_FTEb KW]eWjiH{XYZHIXFHKEGFTE`WEhFHh~EaFI[T]HKGEa_IhFTbH._D\IjI]H|WFIEHcTIfHXTZ]HcGZ_iHcITHE~Fe_IYZHIZjH\T]HeWXVFe_IYZTH]WXXIXYZT `I_IFV]XF~Fe`WEhFHXTIEHc~]\TiH\T]HET]TEH\T]H]T]TIFXH]TXFTZTE\TEHgDXIXHJGEHKDEFH]TIHgIXYZhThHIEHWEjIFFT_]D]T]HRVZTHJGEH{XYZH[T[TEH\DZ_WE[ TIET]HXFDFF_IYZTEHOWjjTHDEH\TEHhI][IXIXYZTEH|]VXI\TEFTEHgDhIdTcHDWX[T]DWFHcW]\Tb SITHOFD\FH{XYZHZD]THhTIETH]TXGE\T]TEHOTZTEXc~]\I[hTIFTEHeWH]ITFTEiHXD[FHjDEHD]aV__I[HIEHgIXYZhThbHQ]T]H\T]H_T_XTEZ~[T_HPDYZFIaOW_T}jDE IXFHa~]HjDEYZTHb]T]]DXYZWE[H[WFbH\WHXTIETEH_~fTEHZDFHXIYZHTIETHN]W``THD_FT]H`VEET]HWE\H_]DWTEHJT]XDjjT_FiHZGYhFHWEFT]HTIETjHSDYZHIj |D[G\TEXFI_bHOITH]T[]~fTEHjIYZHa]TWE\_IYZiHD_XHIYZHjIYZHIEHIZ]T]HRVZTHEIT\T]_DXXTiHWE\HaDZ]TEHIEHIZ]TjHNTjW]jT_HaG]FiH\DXHIYZHD__jVZ_IYZHD_X TIETHQ]FH^SZIh]biH\ITH`T]jDETEFTHG]`]TIXWE[H\T]HUIEeI[hTIFHQ__DZXiHT]hTEETb ST]HQWaXFIT[HeWjHNI`aT_H\TXHOD_GjGEagT][TXHIXFHXFTI_HWE\Hj~ZXDjbHP]GFe\TjHXYZ_T``TEHXIYZHeDZ_]TIYZTH|I_[T]HaG]F[TXYZ]IFFTETEHQ_FT]XHDWa \ITXTH[‧ZTbHSG]FH]ITFTFHXIYZHWEXHTIEHOYZDWX`IT_iHDWaH\DXHcI]HIEHhTIET]H.TIXTH[TaDXXFHXIE\bH.I]HcGZETEHTIET]HPTWaT_XDWXF]TI]WE[iHTIETj URG]eIXjWXiH]TIiH\T]HW]D_FTHOYZDjDETE]]VWYZTHcIT\T]]T_T]FbH\TZEHIEHcTIfTHNTcVE\T]H[TZ~__FTH_]DWTEHZD]TEHXIYZHIjHK]TIXHJT]XDjjT_FbH\W IZ]TEH_~fTEH_IT[FHTIETH_]DWiH\T]TEH[T__TE\TXHOYZ]TITEHIEH\~XFT]TXHM‧YZT_EH~]T][TZFbHLZ]TH\WYhWE[TEHWE\H=T]]TEhWE[TEHcI]hTEHIEH\T]HPDFHcIT \ITHSWD_TEHTIET]HgTXTXXTETEiHG]cGZ_HTIEHDWa[Th_V]FT]HQ]eFHj‧[_IYZT]cTIXTH\ITHO}j`FGjTHJGEHU`I_T`XITH\ID[EGXFIeIT]FHZVFFTb UIETHD_FTH_]DWiH\ITHcGZ_HD_XH|]ITXFT]IEHaWE[IT]FiHXYZ_V[FHIEH]T[T_jVfI[TjHPDhFHjIFHTIETjHOFGYhHDWaH\DXHWE[_~Yh_IYZTH.TXTEHTIEiH\TXXTEHXIYZ TIEH]‧XT]HSVjGEiHTIEHIEEHG\T]H[D]H\T]H^[TXFTIEI[FTHODFDEbH]TjVYZFI[FHZDFFTbHcEDWaZ‧]_IYZHcIT\T]ZG_FH\T]HCZG]H\TEHMTa]DIEiH^DHI__DZDHI__D Q__DZH/HUXH[I]FHhTIETEHNGFFHDWfT]HNGFFbiHcITH\DXH]TIH\TEHOWaIa{]\TEHG\T]HPD]IhDFH~]_IYZHIXFbHSITHN]W``TH_VfFHXIYZHGZETH.I\T]X`]WYZH]TIHIZ]Tj \VjGEIXYZTEHP]TI]TEHaI_jTEb QjHjTIXFTEH~]T]]DXYZFHjIYZH\ITHMTDhFIGEHjTIETXHgT[_TIFT]XiH\TEHIYZHD_XH`DEEHJGEH.T_FHhTEETE[T_T]EFHZD]TiH\T]HjTZ]T]TH_]Tj\X`]DYZTE ]TZT]]XYZFHWE\HEIYZFHEW]HUW]G`DiHXGE\T]EHDWYZHQjT]IhDHIjHQWaF]D[H\TXHhI][IXIXYZTEHQWfTEjIEIXFT]IWjXH]T]TIXFHZDFb UXHZDE\T_THXIYZHZIT]HhTIETXcT[XHWjHOYZD]_DFDET]ITHG\T]HG]XhW]DEFIXFIXYZTEH[TRTEcDZEiHT]h_V]FTHT]HWEXiHcVZ]TE\H\ITH]TXTXXTETH_]DWHXIYZ
D__jVZ_IYZHeWH]T]WZI[TEHXYZTIEFbH[IT]HXTITEHTYZFTH\DW]T]h]VaFTHDjH.T]hbHOTIETHN]GfjWFFT]iH\DXHh‧EETHT]H]TeTW[TEiHZD]THEGYZH~]T]HjD[IXYZT K]VaFTHJT]a~[FHWE\HXTIHIEH\T]HD[TH[TcTXTEiHdT\THK]DEhZTIFHeWHZTI_TEiHcTEEHTXHXIYZHEIYZFH[T]D\THWjHKEGYZTE]]~YZTHZDE\T_FTbHSITHjWX_IjIXYZT NTIXF_IYZhTIFHXFTZTHIEH\ITXT]HNT[TE\HIEHTIETjHXTZ]HecIT_IYZFI[TEHMWabH_~]HNT_\Hh‧EETHjDEHEVj_IYZHTIETEH`WaFIH\DeWH]TcT[TEiH~]T]HTIET JT]ZDfFTH|T]XGEH__WYZHWE\HcEZTI_HeWH]]IE[TEiHcVZ]TE\HDE\T]THMT_I[IGEX\ITET]HXIYZH]TXFTYZTEH_ITfTEiHWjH=G]FTI_HWE\HN_~YhHZT]]TIeWeDW]T]Eb {]DX]ThHXT_]XFHXYZTIEFHJGEH\ITXTjHQ]T][_DW]TEHeWFITaXFH\W]YZ\]WE[TEb UIEHEGYZHXT_FXDjT]T]Hg]DWYZHX`IT_FHXIYZHDEHTIETjHXYZ]V[TEiH[_DFFTEH_T_X]_GYhHD]iH\TEH`VEE_TIEHWE\H.TI]_TIEHD_XHTIETHQ]FHMWFXYZ]DZE ]TEWFeTEbHOITHJT]X`]TYZTEHXIYZH\DJGEH\ITHgTa]TIWE[HJGEH]ZTWjDFIXYZTEHTI\TEiHcVZ]TE\H\ITHdWE[TEH_]DWTEHXIYZHZT]D][_TIFTEH_DXXTEiHWjHIZ]T _]WYZF]D]hTIFHeWHa‧]\T]EHWE\HKIE\T]HeWH[T]V]TEbHQ_XHcI]HWEXT]TEH^_IRT]bHI]GEIXYZHWE\HWE[_VW]I[HjWXFT]EiHT]eVZ_FHT]HXTIETHTI[TETHU]aDZ]WE[ jIFH\ITXTjH\DW]T]]IFWD_b U]HcD]H]T]TIFXH=DFT]HTIETXHKIE\TXiHD]T]HXTIETH_]DWHc~EXYZFTHXIYZHTIETEHecTIFTEHOGZEbHOITH]TD]XIYZFI[FTiHeWH\ITXTjH\cTYhH\ITHZTI_I[T MWFXYZ]DZEHJGEHPDYZFaIaOW_T}jDEHIEHQEX`]WYZHeWHETZjTEbHSDHXITHD]T]HDWa[]WE\H]T]Wa_IYZT]H\cVE[THEIYZFHIEH\T]HD[THcD]iHXT_]XFHEDYZH{XYZ eWH]TIXTEiHZD]THT]HXFT__JT]F]TFTE\Ha~]HXTIETHNDFFIEH\ITHMTIXTHWEFT]EGjjTEHWE\HXIYZH\ITXT]HTI[TED]FI[TEH|]GeT\W]HWEFT]eG[TEbHKW]eH\D]DWaHZD]T XTIETH_]DWHIZjHjIF[TFTI_FiH\DfHXITHXYZcDE[T]HXTIbH_~]HjIYZHIXFH\ITXTXHg]DWYZFWjHEIYZFH[DEeHETWiHZDFFTHIYZH\GYZHTIEHDZ]eTZEFHeWJG]HIEH\T]HRVZT \T]HOFD\FH=DEiHIjHF~]hIXYZTEHRG]\hW]\IXFDEiHTIEHVZE_IYZTXH\T]TjGEIT__HWE\HTIETH]TIEDZTHI\TEFIXYZTHhW_FIXYZTHb]WE[H]TG]DYZFTEHh‧EETEb ST]HgT][HOD_GjGEXHIXFHEGYZHIEHDE\T]T]iHZIXFG]IXYZT]H[IEXIYZFH]TjT]hTEXcT]FbH[IT]HZDFFTH\T]H_TFeFTH[T]]XYZT]H\T]HPIjW]I\TEaS}EDXFITi \DZI]W\\IEHgD]W]iHD_XHUEhT_HPDjT]_DEXHIEH{XYZHeW]H.T_FH[ThGjjTEiHIjHDZ]HMdXkHJG]H\TjHUIEaD__HaTIE\_IYZT]HWX]ThIXYZT]H[G]\TEH\Wa_WYZF [TXWYZFHWE\HTIEH]TXYZTI\TETXH[DWXHXGcITHTIETHh_TIETH`GXYZTTHT]]DWFbHU]HcD]HXTIETEH=T]aG_[T]EHEW]HhED``HTEFhGjjTEbHgD]W]HjWfHTIET DWfT][Tc‧ZE_IYZTH|T]X‧E_IYZhTIFH[TcTXTEHXTIEiH\TEEHEDYZH\ITXTjHM~YhXYZ_D[HXDjjT_FTHT]HTIEH`DD]HPDWXTE\XYZDaFTEHXTIET]HNTF]TWTEi ~]T]cIT[TE\HjGE[G_IXYZT]HQ]XFDjjWE[iHaIT_HIEHRG]\IE\ITEHTIEHWE\H[]~E\TFTH\G]FH\ITH`G[W_S}EDXFITiH\ITH]IEETEHhW]eT]H_]IXFH\TEH[]‧fFTEHPTI_ \TXHOW]hGEFIETEFXHWEFT]HIZ]THNTcD_FH]]DYZFTb \W]H\TIFHgD]W]XHWE\HXTIET]HRDYZaG_[T]HTEFcIYhT_FTHXIYZHdTETHIE\IXYZajWX_IjIXYZTH[GYZhW_FW]iH\T]TEHWEJT][_TIYZ_IYZTH|]WEh]DWFTEH/H\DXHPDd `DZD_HJGEHQ[]DH[TZ‧]FH\DeWHXGcITHDWYZH\ITH[]DE\IGXTEH`GXYZTTEHJGEHST_ZIHWE\HDZG]TH/H\ITHPGW]IXFTEXF]‧jTHDWXHD__T]H.T_FHDEeITZTEbHgIX MPdeHcW]\TH\T]H[]‧fFTHPTI_HLE\ITEXHJGEH\TEH`G[W_EH]TZT]]XYZFiH\DEEH]~YhFTEH\ITHUE[_VE\T]HJGEHO~\TEHZT]DEiHWE\H\DXHg]IFIXYZTHUj`I]T T]_T]FTH\TEH[‧ZT`WEhFHXTIET]HN_G]ITiHD_XHSWTTEH=IYFG]IDHeW]HUj`]TXXHGaHLE\IDHDWX[T]WaTEHcW]\Tb ST]HhG_GEID_THb]T]jWFHhDEEFTH\DjD_XHhTIETHN]TEeTEbH^.TH\GEQFHcDEFHFGHaI[ZFbiHXDE[HjDEHeWH\TIFTEH\T]H[]GfTEHSWTTEHIEH\TEH^jWXIYHZD__Xb JGEHGE\GEiH^]WFH]}HIE[GHIaHcTH\GiHcTQJTH[GFHFZTHjTEiHcTQJTH[GHFZTHXZI`XiHcTQJTH[GFHFZTHjGET}HFGGiH/HcI]HXWYZTEH\TEHKDj`aHEIYZFiHD]T]H/ ]}HIE[GH/HcTEEHcI]H\DeWH[TecWE[TEHXIE\iH\DEEHZD]TEHcI]H\ITH`VEET]iHcI]HZD]TEH\ITHOYZIaaTHWE\H\DXHNT_\HZD]TEHcI]HDWYZbb
TEIEHD_XHP]DWeTW[TH\T]H{_I[D]YZTE =GEH{XYZHIXFHTXHEIYZFHcTIFH]IXHeW]HYZIETXIXYZTEHN]TEeTbHLYZHZDFFTH]TXYZ_GXXTEiHjIYZH\T]H^QWFGEGjTEHMT[IGEH\T]HcI[W]TEbiH\T]HVWfT]XFTE .TXF`]GJIEeHoIEdIDE[iHXGHcTIFHcITHj‧[_IYZHeWHEVZT]EbHgTJG]HcI]H\ITHOF]DfTHIEHMIYZFWE[H\TXHQ_DdaNT]I][TXHWE\HXTIET]HN_TFXYZT]HTIEXYZ_W[TEi cW]\TEHcI]HDjHUIE[DE[HTIETXH|D]hXH\W]YZHTIETHaTXF_IYZTH=T]XDjj_WE[HDWa[TZD_FTEb UIEH`IF[_IT\H\T]HXFDDF_IYZTEH{]T]XYZIYZFiHTIEHhI][IXIXYZT]H{_I[D]YZiHaTIT]FTH\G]FH\ITH[GYZeTIFHXTIET]HPGYZFT]HWE\H]TaG_[FTH\D]TIHTIETHOIFFTiH\IT DWaH\ITHXGcdTFIXYZTHU`GYZTHeW]~Yh[IE[bHSDXHg]DWF`DD]HJT]XDjjT_FTHXIYZHjIFHXTIETjHNTaG_[THJG]H\TjHjDXXIJTEHSTEhjD_Ha~]H\ITHNTaD__TETE \TXH\cTIFTEH.T_Fh]IT[TXbHSITHNTXT__XYZDaFiH\ITHXIYZHZIT]HeW]HOYZDWHXFT__FTiH[TZ‧]FTHTIET]H]D\IhD_HDE\T]TEH.T_FHDEHD_XH\ITH]]DJTEH]VWT]_IYZTE TWFTiH\ITHeWjH\DW]T]aT_XTEH\TXHPDYZFIaOW_T}jDEH[T`I_[T]FHcD]TEbHQ__THQEcTXTE\TEHF]W[TEHXYZcD]eTiHjDf[TXYZETI\T]FTHQEe~[TbHSITH_]DWTE ]Tj~ZFTEHXIYZHWjHTRF]DJD[DEFTEHCZIYb SDXHg]DWF`DD]HcD]HIEHTIET]HXYZETTcTIfTEiHTE\_GXTEHIjGWXIETHJG][TaDZ]TEiHWE\HdT\TH_G]jHJGEHWRWXHcW]\TH`]GFeTE\HeW]HOYZDWH[TXFT__Fb QWYZHZIT]H_ITfHjDEHWEXHWE[TZIE\T]FHWEXT]THQWaEDZjTEHjDYZTEHWE\H[TcVZ]FTHWEXHEGYZHTIETH\W[D]TiHjIFH\T]HcI]HEIYZFH[T]TYZETFHZDFFTEb SITHRTWJT]jVZ_FTEH/H\ITHg]DWFH[DEeHIEH.TIfiHXFD]hH[TXYZjIEhFiH\W]YZDWXHDFF]DhFIJH/H_T[FTEHeWH_WfH\ITHhW]eTHOF]TYhTHeW]~YhiH\ITH\IT NT\TEhXFVFFTHa~]H\ITHPGFTEHJGEHTIET]H[I[DEFIXYZTEHTEIEXFDFWTHF]TEEFTbHST]H[T_\H\T]HgG_XYZTcIhTEH/HIEH\T]H~]_IYZTEiH]IYZFWE[cTIXTE\TEHNTXFT T]XFD]]FH/HXYZITEHJGEH\TEH\IJT]XTEHcjXF~]eTEHWE\H=G_hXDWaXFVE\TEiHJGEH\TEH]D\IhD_TEH=T]VE\T]WE[TEiH\ITHXIYZHXTIFHQWa_‧XWE[HXTIET] OGcdTFWEIGEHTIE[TXFT__FHZDFFTEiHEIYZFXHcDZ][TEGjjTEHeWHZD]TEbHQWYZH\ITH^PW_`TEaMTJG_WFIGEbHZDFFTHIZEHEIYZFHFDE[IT]Fb SITHTRh_WXIJTH[GYZeTIFX[TXT__XYZDaFiHRWFeEITfT]HTIETXHZTjjWE[X_GXTEHCDXIEGaKD`IFD_IXjWXiH\TEHXITHcITHTIETH{][ITHaTIT]FTEiHaDE\TEHTXH[DEe EDF~]_IYZiHXIYZHJG]H\TjHO}j]G_H\T]H`]G_TFD]IXYZTEHMTJG_WFIGEHD]_IYZFTEHeWH_DXXTEb O .VZ]TE\H\T]HDE\]GJT]HWEXH~]T]HXFTI_TH|VXXTHIEHMIYZFWE[H{XFTEH]Ta‧]\T]FiHT]ZIFeFHXIYZHWEXT]HgT[_TIFT]H{]GX]ThHjIFH`_‧Fe_IYZT]H=TZTjTEebH^OIT ZD]TEHT]TEHTIEH`DD]HURTj`_D]TH\T]H`DaIDiHTIETHgDE\THJGEHgTF]~[T]EH[TXTZTEiH\ITHWEXH]T[IT]TEbiHXYZEDW]FHT]bH^SITXTHQWX]TWFT]HZD]TEH\W]YZ gTF]W[H]ITXI[TH=T]j‧[TEHT]cG]]TEHWE\HXYZVjTEHXIYZHEIYZFiHIZ]THKG]]W`FIGEHWE\H=T]\T]]FZTIFHJG]H\TEHD]jTEHTWFTEHDWXeW]]TIFTEbb cEFT]H|]VXI\TEFHQhDdTcHXTIHTXH[TXIFFTFT]HeW[T[DE[TEHD_XHWEFT]H\TjHRDYZaG_[T]iH\TEH\ITHQjT]IhDET]H\W]YZH\ITH^PW_`TEaMTJG_WFIGEbHDEH\IT `DYZFH[T]]DYZFHZDFFTEbHOYZGEHc~]\THTIEH[]GfT]HPTI_H\T]HgTJ‧_hT]WE[H\TjHa]~ZT]TEHOGcdTFX}XFTjHEDYZF]DWT]EbHSDHXTITEH\ITH]TXYZTI\TETE MTEFTEH\T]HQ_FTEHcTEI[XFTEXHDWX[TeDZ_FHcG]\TEiHWE\HdT\T]HZD]TH]TYZFHWE\HXYZ_TYZFHTIETEHQ]]TIFX`_DFeH[TaWE\TEbH^ST]H.TXFTEHXG__HXIYZHEIYZF cWE\T]EbiHaVZ]FH\T]H^_IRT]bHaG]FiH^cTEEH\DXH=T]_DE[TEH\TXH=G_hTXHEDYZHTIETjH`IEIjWjHDEHNT]TYZFI[hTIFHWE\HPW[TE\HdTETEHK]VaFTEHQWaF]IT] [I]FiH\ITH\TjHXF]TE[TEHT[D_IFV]TEHLX_DjH\T]HPD_T]DEHEDZTXFTZTEHWE\HDWaHIZ]THOFWE\THcD]FTEbb \WH]TI\TEHOTIFTEHWEXT]T]H.T[XF]TYhTH]ITFTEHXIYZHgI_\T]iH\ITHeWHTIET]H`ZDEFDXFIXYZTEHNTXYZIYZFXJT]aI_jWE[H[T`DfFHZVFFTEbHSDXHT]TEH]WE\ WjH\ITHW]FTEHZDFHXTIETHcI_\THc]X`]~E[_IYZhTIFH]TcDZ]FiHWE\H\ITH]T]IFFTETEHP]W``XHJGEHKI][IXTEHWEFT]H\TjHF}`IXYZTEH_I_eZWFHXYZTIETEH\IT h~ZETiHaW]YZFT]]T[TE\THKDj`a_WXFHIZ]T]H=G]aDZ]TEH[TT]]FHeWHZD]TEbHUXHIXFHTIEH[]DWT]iH\ITXI[T]HQ]TE\bHSITH[TcD_FI[TH_T_X]D]]IT]TiHZIEFT]H\T]
XIYZH\ITH[T]D__FTH`DYZFH\TXHMTIYZTXH\T]H`IFFTH]IXHeWjH|DeIaIhHT]XF]TYhFiHXFT__FHXIYZHWEXHcITHTIETH\~XFT]TH`DWT]HIEH\TEH.T[b cEXT]H^_IRT]bHcTIXFHWEXHDWaH\ITH]DXYZHeWETZjTE\THSVjjT]WE[HZIEbH^.I]HXG__FTEH\ITHM~YhaDZ]FHEDYZH{XYZHDEF]TFTEbiHXYZ_V[FHT]HJG]bH^SIT CZIETXTEHXIE\HecD]H\D]TIiHIEH\TEHTE[TEHOYZ_WYZFTEiH\ITHXITHjIFHIZ]TEHRDYZ]D]EHJT]]IE\TEiHIZ]HOF]DfTEETFeHIEFTEXIJHDWXeW]DWTEiHXG[D]H\T] |DfiH\T]HeWjHXYZjD_TEH.DhZDEa\I`aT_HQa[ZDEIXFDEXH~]T]_TIFTFiHXG__HIEHTIET]H[‧ZTHJGEHdYYYH`TFT]EH~]T]cWE\TEHcT]\TEbHST]HYZIETXIXYZTE =G_hX]Ta]TIWE[XD]jTTHXFVE\TH\DEEHIjHRGFaD__H\T]H.T[HEDYZHKD]W_HGaaTEbbHQ]T]HXTIFHTIEH`DD]HPD[TEHXTIH\ITHOIFWDFIGEHIjHN]TEe[T]ITFHJGE oIEdIDE[H]TXGE\T]XHDE[TX`DEEFbHLYZHZVFFTHdDHXIYZT]HJGEH\TEHXYZcT]TEH\cIXYZTEaV__TEH[TZ‧]FiH\ITHXIYZHIEH\T]H[DW`FXFD\FH\T]HcI[W]TEaMT[IGEiHIE c]WjHIiHD][TX`IT_FHZVFFTEb gT]TIFXHIEHQhFDWHZDFFTHIYZH~]T]HCRRH\ITHX`V]_IYZTEH_T]EXTZ]I_\T]iH\ITH\ITH]_WFI[TEH\WXDjjTEXF‧fTHIEH\T]HVWfT]XFTEHYZIETXIXYZTE .TXF`]GJIEeH~]T]jIFFT_FTEiHjIFH]]TEETE\TjHLEFT]TXXTHJT]aG_[FbHST]HMDFHWEXT]TXHgTF]TWT]XH_TWYZFTFHjI]HTIEbH.I]HjDYZTEHhW]eHMDXFbH.VZ]TE\ IYZHjIYZHJGjHPTDjHD]XGE\T]THWE\H/HDWaHTIETjH_T_X]_GYhHZGYhTE\H/HjTIETHFV[_IYZTEHRGFIeTEHJT]JG__XFVE\I[TiHhGjjFHjI]H`_‧Fe_IYZHTIET Ij`T]ID_THQETh\GFTHIEXHNT\VYZFEIXiH\ITHXIYZHIEH\ITXT]HNT[TE\HWjH\DXHDZ]HMZYYHD][TX`IT_FHZDFFTbHgTIH\T]HgT[T[EWE[HecIXYZTEHMT`]VXTEFDEFTE \T]H\DjD_I[TEHMIJD_TEHIjH^N]TDFHNDjTbH/HMWXXTEHWE\HUE[_VE\T]EH/HhDjH]TIHD__T]HU]]IFFT]WE[HTIETHNTXIFFWE[iHTIETHCGW]FGIXITHeWjHQWX\]WYhi \ITHjDEHIEH\TEH]~\TEiH`G_TjIXYZTEHcj[DE[XaG]jTEHWEXT]T]HPD[THJT][T]_IYZHXWYZTEHc~]\Tb Q]T]H_DXXTEHcI]H\TEHCD`FDIEHpGWE[ZWX]DE\HjIFHXTIET]HTI[TETEHOYZI_\T]WE[HeWH.G]FHhGjjTEiH^.VZ]TE\HIYZHZT]DE]IFFiHF]DFHTIE [WFDWXXTZTE\T]H`DEEHjIFHgD]FHIEH]WXXIXYZT]HcEIaG]jHDWXHXTIETjH\T_FiHWjHjIYZHZT]e_IYZHeWH]T[]~fTEbbHST]Hg]IFTHaG_[FTH\T]HUIE_D\WE[HXTIETX NT[TEX`IT_T]XbHSDXHSIEET]HcD]HTIETHXTZ]H~``I[TH`DZ_eTIFiH\ITHjIFH.G\hDH]TIYZ_IYZH]T[GXXTEHcW]\TbHgTIHgT[T[EWE[TEHVZE_IYZT]HQ]FHZD]TEHXIYZ \ITHdTcTI_I[TEHUjIXXV]TiHNGFFHcTIfHcITiHjIFHCZDj`D[ET]HWE\HgG]\TDWRH]TcI]FTFbHNDEeHWEJT]]_~jFHhDjH\DXHNTX`]VYZHDWaH\ITH]WXXIXYZTE U]G]T]WE[XD]XIYZFTEbH^.~]\TFHLZ]H[T]EHEDYZHLE\ITEHjD]XYZIT]TE^bHa]D[FTH\T]HMWXXTHN]GjFXYZTcXhIHXTIETHKGXDhTEiHWE\H\ITHDEFcG]FTFTEHjIF TIETjH\]‧ZETE\TEH[W]]Db SITH]TI\TEH{aaIeIT]TH\IXhWFIT]FTEHXTZ]Ha]TIj~FI[H~]T]H\ITHCZDEYTEHTIET]H]WXXIXYZTEH{aaTEXIJTHIEH\ITXTjHTRF]TjHcI\]I[TEHNT_VE\Tb N]GjFXYZTcXhIH]~ZjFTH\ITHXYZIT]HWE]T[]TEeFTHTI\TEXaVZI[hTIFHXTIET]HOG_\DFTEbHpGWE[ZWX]DE\HXTIET]XTIFXHJT]cITXHDWaH\ITH=T]cWE\]D]hTIFH\T] RDYZXYZW]cT[TiHjIFH\TETEH\ITHeD]IXFIXYZTEHQ]jTTEHIEH\TEHWEXIYZT]TEH.TIFTEH\TEF]D_DXITEXH]TYZETEHj~fFTEbHOGH\T]DFFIT]FTHjDEH]TIH.G\hD WE\Hg_IEIXb QjHaG_[TE\TEHPD[HF]DEhTEH\ITH]TI\TEHEGYZHTIETH_TFeFTH__DXYZTHg]DE\}H_TT]iH\ITHpGWE[ZWX]DE\HIEHXTIETjHNT`VYhHjIFa~Z]FTbH`DEHF]TEEFTHXIYZ DWaHZ‧YZXFH`]GFGhG__[T]TYZFTHQ]FHD_XH{aaIeIT]THWE\HNTEF_TjTEbHSITHh_TIETEHXYZ_IFeVW[I[TEHNW]hZDXH`]VXTEFIT]FTEH\ITHNTcTZ]THjIFH\T]H|]VeIXIGE ]]IFIXYZTEHS]I__XbHN]GjFXYZTcXhIHcD]HJGEH\ITXTjH|D]D\TXF~YhHZGYZHDE[TFDEHWE\HFTI_FTH\DXHXTIETjHMIJD_TEHDET]hTEETE\HjIFbHOTIET h]DaFXF]GFeTE\TEiH]V]FI[TEHKGXDhTEHcD]TEHIEHXG_YZTEHK~EXFTEHcTEI[T]H[T~]FfH\Da~]H]TTIE\]WYhFTEHXITH\W]YZHIZ]TH]ITXI[THOFDFW]b SDXHK]VaFTjTXXTEHecIXYZTEHGE\GEHWE\HODEhFH|TFT]X]W][HIEH\TEF]D_DXITEHcW]\THIjHDZ]HMZYdHdVZHD][T]]GYZTEbH\WH\ITXTjH\TIF`WEhF T]_IFFTEH\ITHOF]TIFh]VaFTH\TXH\D]TEHIEH\T]HOTTXYZ_DYZFHJGEHPXWXZIjDHWE\HEDYZH\T]HU]XF~]jWE[H\T]H_TXFWE[H|G]FHQ]FZW]H\W]YZH\ITHOG_\DFTEH\TX PTEEGHJT]EIYZFTE\THRIT\T]_D[TEbH\WHUR`DEXIGEX]TXF]T]WE[TEHIEHMIYZFWE[HLE\ITEHcD]HhTIETH~]T]XYZ~XXI[THK]DaFHjTZ]HJG]ZDE\TEbHMZYeHhDj TXHeW]H`]VeIXTEHQ][]TEeWE[H\T]HdTcTI_I[TEHUIEa_WfeGETEbHcjHdT\TXHMIXIhGiH\DfHXIYZH\ITH]TI\TEHLj`T]ITEHIEXHNTZT[THhVjTEiHeWH]DEETEiHcW]\T \T]H_DE[[TXF]TYhFTH_IE[T]H\TXHWEcI]F_IYZTEH.DhZDEa\I`aT_XH\TjHK‧EI[]TIYZHQa[ZDEIXFDEHeW[TXYZ_D[TEHWE\H\DjIFHETWF]D_IXIT]FbHSDXH\D]TE]TIYZ cDE\FTHXIYZHIEHXTIETjHWET]XVFF_IYZTEHQWX\TZEWE[X\]DE[HUW]G`DHeWiHeWjD_HDWaH\TjHgD_hDEbHUIET]H`I_IFV]D__IDEeHjIFH\TjH^`T]aI\TEHQ_]IGEb [T[TEH\DXHcI_ZT_jIEIXYZTHSTWFXYZ_DE\HWE\H\ITHjG]XYZTHSGEDWjGED]YZITH\T]H[D]X]W][T]HXFDE\HEIYZFXHjTZ]HIjH.T[Tb
SITH__WYZFH\TXH^N]GfTEH|aT]\TXb .DXHjIYZHDjHPD[THWEXT]T]HUR`T\IFIGEH‧XF_IYZHJGEH{XYZHaDXeIEIT]FTiHcD]TEH\ITHJT]]_~aaTE\TEH`T_\WE[TEHDWXHc]WjHIiH\T]H[DW`FXFD\FH\T] YZIETXIXYZTEH|]GJIEeHoIEdIDE[iH^.TXFjD]hbHIEH\T]Hb]T]XTFeWE[bH.I]H]TaDE\TEHWEXHdDHIEHWEjIFFT_]D]T]HRDYZ]D]XYZDaFH\ITXT]HMT[IGEb QjHdbHWEIHXYYZHZDFFTEHXIYZHIEHc]WjHIHYZDGFIXYZTiHj‧]\T]IXYZTHOeTETEHD][TX`IT_FbH`IFHTIETjHXG_YZTEH[DfDWX]]WYZH\TXHF~]hIXYZIX_DjIXYZTE =G_hTXH\T]HcI[W]TEiH\DXHTFcDHETWEH`I__IGETEH`TEXYZTEHeVZ_FiH[T[TEH\ITHgTJG]jWE\WE[HWE\HKET]T_WE[H\W]YZH\ITHIjHMTIYZH\T]H`IFFT \GjIEIT]TE\TH[DEaMDXXTHZDFFTHIYZHEIYZFH[T]TYZETFiHG]cGZ_HIYZHIEHoIEdIDE[HIEFTEXIJTH`T]X‧E_IYZTHU]aDZ]WE[TEH[TXDjjT_FHZDFFTbHLYZHcV]TH[D] EIYZFHDWaH\ITHL\TTH[ThGjjTEiH\DXXHXIYZH\ITXT]H‧XF_IYZXFTH\cTI[H\T]H[]GfTEHFW]DEIXYZTEH=‧_hT]aDjI_ITiH\TXXTEHQE[TZ‧]I[THIEHc]WjHIHIEaG_[T jDXXIJT]HYZIETXIXYZT]H\WcDE\T]WE[HEGYZHZ‧YZXFTEXHTIEHS]IFFT_H\T]HUIEcGZET]HDWXjDYZFiHeWHTIETjHhG__ThFIJTEHQjGh_DWaH\ITXTXHQWXjDfTX [T[TEH\ITHa]Tj\TEHUIE\]IE[_IE[THDWa]DaaTEHh‧EEFTb =GEH\TEH~]T]]DXYZFTEHOIYZT]ZTIFXG][DETEHhDWjH]TZIE\T]FiHZDFFTEH\ITHQWa]~Z]T]H_DWFHGaaIeIT__TEHQE[D]TEHMZnHCZIETXTEHT]jG]\TFiH\T]TE NTXYZVaFTHJT]c~XFTFHWE\HXFDDF_IYZTHUIE]IYZFWE[TEHIEHg]DE\H[TXTFeFbH.ITHJIT_TH{`aT]H\DEEH\ITHRIT\T]cT]aWE[H\ITXT]HMTJG_FTHWEFT]H\TEHcI[W]TE aG]\T]FTiH_VfFHXIYZHEIYZFH~]T]`]~aTEbHOT_]XFH\T]HDhWFTHQWX_‧XT]H\ITXTXH|G[]GjXH\T]HcEFT]\]~YhFTEH[T[TEH\ITHD__jVYZFI[THb]T]eDZ_H\T]H[DE ]_TI]FHWE[Th_V]FbHgTIH\TEHcI[W]TEiH\T]TEHP}`G_G[ITHIZ]TEHF~]hIXYZTEH=T]cDE\FTEHIEHQEDFG_ITEHVZE_IYZT]HIXFHD_XH\TEHXFD]hHjGE[G_IXYZH[T`]V[FTE KDXDYZTEHWE\HKI][IXTEiHjWfHXIYZH\DXHNTa~Z_HTIET]HWET]F]V[_IYZTEHSIXh]IjIEIT]WE[HWE\HgTEDYZFTI_I[WE[H\W]YZH\ITH|ThIE[T]HOFDDFXG][DET DE[TXFDWFHZD]TEiHWjHTIETHXG_YZTHUR`_GXIGEHDWXeW_‧XTEiH\ITHXFT__TEcTIXTHIEHTIET]H[TFedD[\HDWaHD__TH\WcDE\T]T]HDWXD]FTFTb .D]WjHZD]TEH\ITXTHX`ThFDhW_V]TEH[VWXT]hVj`aTHJGEHc]WjHIHIEH\T]HcTXF_IYZTEHcaaTEF_IYZhTIFH/H[TjTXXTEHDEH\TEHUEF]~XFWE[XXF~]jTEiH\IT \DXHYZIETXIXYZTH=G][TZTEH[T[TEH\ITHFI]TFIXYZTEH|]GFTXFDhFIGETEHIEHZDXDHTEFaDYZFTH/H]T_DFIJH[T]IE[THgTDYZFWE[HWE\HcTEI[HOG_I\D]IXIT]WE[ [TaWE\TE^HLEH\DXH^\THWRTba[GFT_HJGEH{XYZHeW]~Yh[ThTZ]FiH]IEHIYZH\D]DWaHJGEHTIETjHWE[Tc‧ZE_IYZHjIFFTI_WE[Xa]TW\I[TEHhI][IXIXYZTE OFW\TEFTEiHJT]jWF_IYZHTIETjH=T]cDE\FTEHWEXT]TXH^_IRT]XbiHDE[TX`]GYZTEHcG]\TEb OTIEHQ][WjTEFHh_DE[HTIE_TWYZFTE\bH.VZ]TE\H\ITH]W\\ZIXFIXYZTEH`‧EYZTHJGEHZDXDHTIET]HU]]DWWE[X_TZ]THDEZIE[TEiH\ITH\TjH|]IEeI`H\T] NTcD_F_GXI[hTIFHWE\H\T]H`G_IFIXYZTEHQ]XFIETEeHZW_\I[FiHXIE\H\ITHcI[W]TEHXTIFHDZ]ZWE\T]FTEHeWjHLX_DjH]ThTZ]FHWE\HZD]TEHIEH_]D[TEH\T] hG]DEIXYZTEHMT_I[IGEXDWX~]WE[H/HIEh_WXIJTH\TXHIZD\H/HTIETH]I[G]GXT]TH[D_FWE[HTIE[TEGjjTEHD_XH\ITHEGYZHcTIF[TZTE\HIEHXYZDjDEIXFIXYZTE g]VWYZTEHJT]ZDaFTFTEHKDXDYZTEHWE\HKI][IXTEbHcEFT]H\TEHcI[W]TEHaDE\HXIYZHDWYZHTIETH]TDYZF_IYZTHQEeDZ_HJGEH^NGFFTXh]IT[T]EbH]T]TIFiHD_X _]TIcI__I[THIEH\T]H^[]~ETEHT[IGEbH{XDjDH]IEHD\TEXHDjH[TI_I[TEHK]IT[H[T[TEH\ITH[GFF_GXTEH]WXXIXYZTEH^OYZW]DcIbHWE\H/HEDYZH\T]TE =T]F]TI]WE[HDWXHQa[ZDEIXFDEH/H[T[TEHdTETH_TIE\THNGFFTXHDEeWF]TFTEiH\ITHIjHRDjTEH\TXHcOaLj`T]ID_IXjWXH\ITHjWX_IjIXYZTH^cjjDbHeW
hETYZFTEHXWYZFTEb RGYZHJIT_Hh]DXXT]iHXGHjTIEFTH\T]HdWE[TH`DEEiHF]TFTH\ITXTHcTXF_IYZTH=G]TIE[TEGjjTEZTIFH[T[TEH\ITH~E[T]H\TXH|]G`ZTFTEH`GZDjjT\HIE KDXYZjI]HIEHU]XYZTIEWE[iHcGH\ITHIE\IXYZTHMT[IT]WE[HJGEHST_ZIiH\T]HDE[T]_IYZH^[]‧fFTEHSTjGh]DFITH\T]H.T_FbiH\T]HjWX_IjIXYZTE gTJ‧_hT]WE[XjTZ]ZTIFH\DXHJGEH\T]HcR{H[TcVZ]FTHOT_]XF]TXFIjjWE[X]TYZFHhGEXTHWTEFHJT]cTI[T]TbHQWXH\T]H`D]D\ITXIXYZTEHDE\XYZDaFH]WE\ WjH\TEHSD_aOTTiHcGHIYZHTIEXFHDEHgG]\HTIETXH[DWX]GGFTXHD_XH^ODZI]bHeWH\TEH\DW]T]XYZ_‧XXT]EH\T]H`G[W_a[T]]XYZT]H[T]W\T]FHcG]\TEHcD]iHcD] IEecIXYZTEHTIEHF~YhIXYZTXHKDj`a[T]ITFH[TcG]\TEbHSITH[DW`FXFD\FHJGEHDjjWaKDXYZjI]iHO]IED[D]iHcW]\THIEHTIEH]TaTXFI[FTXHD[T]HJT]cDE\T_Fb \TIFcTIXTHZDFFTHST_ZIHTIETHZD_]TH`I__IGEHOG_\DFTEHIEH\ITXTjHcEIGEXXFDDFHDjHMDE\TH\TXH[IjD_D}DHXFDFIGEIT]Fb ST]HMT`]TXXIGEH\T]HIE\IXYZTEHOFDDFXG][DETiH\ITHJGjH.TXFTEHcITHTIETH^ZTI_I[THKWZbH[TXYZGEFHcW]\TEiHXTITEH]T]TIFXHeYHYYY .I\T]XFDE\XhVj`aT]HG\T]HIZD\IHeWjH{`aT]H[TaD__TEbHQ]T]HJGEH\TEH`T\ITEH\T]HcOQHWE\HUW]G`DXHc~]\TEH\ITXTH_]TIZTIFXhVj`aT]HD_X ]_WF]~EXFI[TH^PT]]G]IXFTEbH\IaaDjIT]FbH{]HTXHcGZ_HdTFeFH\TjH|G_IF]~]GHIEH|ThIE[H[T_IE[TEHc~]\TiHDWYZH\DXHEDFIGED_a]T_I[I‧XTHQWa]VWjTEH\T] `WX_IjTHJGEHoIEdIDE[HIEHdTETHKDFT[G]ITHJGEH]]WFD_TEHNTcD_FFVFT]EHTIEeW]TIZTEiH\T]TEH\IT_HTXHXTIiH\ITH[DEeTH.T_FH\W]YZHIZ]THQEXYZ_V[THIEHQE[XF WE\HOYZ]TYhTEHeWHJT]XTFeTEiH]_TI]THD]eWcD]FTEb SITHPDFXDYZTiH\DfHDWYZHIEHNWDEFVEDjGH]WE\HTIEHSWFeTE\HcI[W]TEH\TEH\G]FH~]_IYZTEH=T]Z‧]aHWE\H_G_FT]jTFZG\TEHDWX[TXTFeFHcD]TEiHh‧EEFT IEH\ITXTHMIYZFWE[HcTIXTEbHLjH~]]I[TEiHXGHa~[FTH\T]HdWE[THcE]ThDEEFTHZIEeWiH\T]HXIYZHEDYZH\TjHNTX`]VYZHZDXFI[HJT]D]XYZIT\TFTiHZVFFTEH]T]TIFX nYYHYYYHcI[W]TEHDWXHCZIEDHIjHcjh]TIXHJGEH{XYZH\Wa_WYZFHWE\HQX}_H[TXWYZFbHSITHTIEZTIjIXYZTHgTJ‧_hT]WE[HZD]THDWaH\ITXTH\WcDE\T]WE[ ]TYZFHWEa]TWE\_IYZH]TD[IT]Fb O .T]HZVFFTHXIYZHcVZ]TE\H\T]HKDEe_T]XYZDaFH.I__}Hg]DE\FXHJG]XFT__TEHh‧EETEiH\DfH\ITHgTZDW`FWE[HTIETXHXGeID_\TjGh]DFIXYZTE =T]FTI\I[WE[XjIEIXFT]XiH^STWFXYZ_DE\HcI]\HDjH[IE\WhWXYZHJT]FTI\I[FbiH\ITHjTZ]ZTIF_IYZTH\WXFIjjWE[H\TXHgWE\TX]DFTXHaIE\TEHc~]\Tb L][TE\cITHXYZTIEFHTIETHhW]IGXTH_G]jHJGEH.I_ZT_jIEIXjWXHIEH\T]HgWE\TX]T`W]_IhHcIT\T]HDWa[T_T]FHeWHXTIEiHXTIFH\ITH`IEIXFT]ITEHWE\H\DX |D]_DjTEFHXIYZHDEH\ITHO`]TTHeW]~Yh]T[T]TEHZD]TEb QWaHTIET]H|]TXXThGEaT]TEeHIEH`GXhDWHJG]HecTIHDZ]TEHcD]H\T]HXFT__JT]F]TFTE\TH`IEIXFT]`]VXI\TEFHOT][TdHLcDEGcHEDYZHTIET]HTJTEFWT__TE gT]TIFXYZDaFHMWf_DE\XH]Ta]D[FHcG]\TEiH\T]HUW]G`VIXYZTEHcEIGEHWE\H\TjHQF_DEFIXYZTEHg~E\EIXH]TIeWF]TFTEiHcDXH\ITXT]H=TFT]DEH\TX QWX_DE\X[TZTIj\ITEXFTXHjIFHTIETjHXYZD__TE\TEHNT_VYZFT]H]TDEFcG]FTFTbHSDJGEHh‧EETHcI]h_IYZHEIYZFH\ITHMT\THXTIEiHjTIEFTHT]bHLEHMWf_DE\ cG__TH\GYZHEITjDE\H\T]H\TWFXYZTEHgWE\TXcTZ]HeWjWFTEiH\ITH{XF[]TEeTHMWf_DE\XHTIETXHPD[TXHIEHU]a~__WE[HIZ]T]Hg~E\EIX`a_IYZFH[T[TE RG]\hG]TDHeWHJT]FTI\I[TEb SITHj}XFT]I‧XTH.T_FHecIXYZTEHPD]IjagTYhTEHWE\HSXWE[D]TIHZDFFTHjIYZHXYZGEHD_XHKED]THaDXeIEIT]FbHLYZH_DXHjIFHgT[TIXFT]WE[H\ITHMTIXTaHWE\ UEF\TYhWE[XXYZI_\T]WE[TEH\TXHOYZcT\TEHOJTEH[T\IEiH\T]Hc]WjHIiH\ITH[DW`FXFD\FH\TXHZTWFI[TEHoIEdIDE[iHD_XHFW]hTXFDEIXYZTXHMVW]T]ETXFHZIEFT] \IYhTEHTZjcV__TEHXYZI_\T]FTbHUXHcD]HTRF]TjHD]TEFTWT]_IYZHeW[T[DE[TEHIEH\ITXT]H.TXFa|]GJIEeiHEDYZ\TjH\ITH`DE\XYZWaS}EDXFITHIEH|ThIE[ [TXF~]eFHWE\H{XFaPW]hTXFDEH\ITHgTWFTH[]DWXDjT]HWE\HWE]T]TYZTE]D]T]H^PDIaWbHG\T]H.D]_G]\XHcW]\Tb LjHDZ]HMZNMHcD]HTXHeWjHQWaXFDE\H\T]H`WX_IjTH[ThGjjTEH/HTXHZDE\T_FTHXIYZH~]T]cIT[TE\HWjHSWE[DETEiH\ITHjDEHZTWFTH[WIHETEEFH/ DWX[T_‧XFH\W]YZHTIETHUIEcDE\T]WE[XcT__THYZIETXIXYZT]HKG_GEIXFTEHDWXH\T]H|]GJIEeHKDEXWbH=IT]HDZ]TH_DE[HZDFH\T]HIZD\HWjH\TEHgTXIFe CZIETXIXYZaPW]hTXFDEXH[T\DWT]FbHQ_XHKGjjDE\TW]H\T]HjWXT_jDEIXYZTEHK]IT[T]HcW]\THTIEH]_WFdWE[T]HNTET]D_H]T]WaTEiH`DH\ZGE[}IE[iH\DX ^N]GfTH|aT]\bH[TEDEEFbH`IFHXIT]eTZEHDZ]TEHZDFFTHXIYZH\ITXT]H[WIHjIFH\TjHKIE\T][TXIYZFH]T]TIFXHXT_]XFHeWjH{]T]XFH]Ta‧]\T]FbHTFeFHc~FTFTHT] DEH\T]HO`IFeTHXTIET]HSWE[DETEHcITHTIEHETWT]HPDjT]_DEbHLEH\TjH`DfTiHcITHXIYZHDWYZH\ITHF~]hIXYZajWX_IjIXYZTHgTJ‧_hT]WE[HXTIETE MTIFT]ZG]\TEHDEXYZ_GfHWE\HT]H/HjIFHQWXEDZjTHc]WjHIXH/HTIETH{DXTHEDYZH\T]HDE\T]TEHT]G]T]FTiHJT]aIT_H\DXH^N]GfTH|aT]\bHcGZ_H\Tj N]‧fTEcDZEbHU]H`]Gh_DjIT]FTHXIYZHeWjHETWTEHKD_IaTEiHdDHT]ZG]HXG[D]H\TEHQEX`]WYZHDWaH\TEHU]_‧XT]FIFT_H\TXH^`DZ\IbbHcEFT]H\TEH[DEaCZIETXTE ]IYZFTFTHT]HTEFXTFe_IYZTH`DXXDhT]HDEb LjH`GXhDWT]HK]Tj_HZDFFTHOFD_IEH\ITHjI_IFV]IXYZTEHU]aG_[TH\TXH^N]GfTEH|aT]\TXbHjIFHcDYZXTE\T]HL]]IFDFIGEH]TG]DYZFTFbHUIET]XTIFXH]Ta~]YZFTFT T]H\DXHb]T][]TIaTEH\T]HIX_DjIXYZTEHMTJG_FTHDWaHXTIETHTI[TETEHPT]]IFG]ITEHIEH\TEF]D_DXITEiHcGH\T]H.I\T]XFDE\H\T]H^gDXjDFXYZIbHEGYZHEIYZFH[DEe T]_GXYZTEHcD]iHDE\T]T]XTIFXHZT[FTHT]H\TEH=T]\DYZFiH`DH\ZGE[}IE[Hh‧EEFTHTIEHQ[TEFH\TXHdD`DEIXYZTEHNTET]D_XFD]XHXTIEiH\T]HIEHdTET]H\TIFHeW] U]G]T]WE[H[DEeHCZIEDXHDWXZG_FTbHQjH.TIZEDYZFXFD[HMZNNH]~YhFTH\ITHMGFTHQ]jTTHjIFHXYYYHOG_\DFTEHIEHc]WjHIHTIEbHoIEdIDE[HcD]HJGEHEWEHDE TIEH|]GFThFG]DFbHgTIHQWX]]WYZH\TXH\cTIFTEH.T_Fh]IT[TXHcD]TEHND]EIXGETEH\T]HMGFTEHQ]jTTHIEHOFV]hTHJGEHnYHYYYH`DEEH~]T]H\ITHcTIFTHMT[IGE JT]XF]TWFb LjHDZ]HMZnXHhDjHTXHeW]HX`ThFDhW_V]TEH.TE\TbHSITH\DjD_I[TEHU]TI[EIXXTHXIE\H]IXHZTWFTHEIYZFHJG__HDWa[Th_V]FbH=T]jWF_IYZH]]DWYZFTHOFD_IEHeW dTET]H\TIFHdT\THhDj`aaVZI[THSIJIXIGEiHWjHXITH\TEHSTWFXYZTEHIEH\T]HOYZ_DYZFHJGEHOFD_IE[]D\HTEF[T[TEeWcT]aTEbHT\TEaD__XHeG[HXIYZH\ITHMGFT Q]jTTHjIFXDjFHD__TEH`G_IFIXYZTEHgT]DFT]EHIjH[T]]XFHMZnXHDWXHoIEdIDE[HeW]~YhbH{]HdTETHWED]ZVE[I[THMT`W]_IhH{XFaPW]hTXFDEH~]T]ZDW`F TRIXFIT]FHZDFFTiHDWaH\ITHXIYZH\ITH{``GXIFIGEX`G_IFIhT]IEHMT]I}DHKD\TT]iH\ITH|]VXI\TEFIEH\TXHWI[W]IXYZTEH.T_FhGE[]TXXTXiH]T]WaFiHhDEEHJT]jWF_IYZ EW]H\ITXTHWE[Tc‧ZE_IYZTH_]DWH]TXFVFI[TEiH\ITH`IF[_IT\H\TXH=G_hXhGE[]TXXTXH\T]HYZIETXIXYZTEHKGjjWEIXFTEHcD]iHTZTHXITHTIETEHIj DjT]IhDEIXYZTEHURI_H_T]TE\TEHWI[W]IXYZTEHRDFIGED_IXFTEHZTI]DFTFTb T\TEaD__XHXYZWaH`DGH\T\GE[HWEjIFFT_]D]HEDYZH|]Gh_DjDFIGEH\T]H=G_hX]T`W]_IhHCZIEDHIjHDZ]HMZnZHJG__TE\TFTHPDFXDYZTEHIEH\T]HaT]ETE YZIETXIXYZTEH.TXFjD]hbHU]H_ITfH\ITH=IT]FTHhGjjWEIXFIXYZTH_T_\D]jTTHTIE]~YhTEbHU]H]TaDZ_HXTIETEHI\TG_G[IXYZH[T\]I__FTEHOG_\DFTEiHDEH{]FHWE\ OFT__THXTfZDaFHeWHcT]\TEHWE\HXIYZHD_XH.TZ]]DWT]EHeWH]TcVZ]TEbHSDXH[TXYZDZHjIFH]TDYZF_IYZTjHU]aG_[bHLEH\T]HX`]‧\TEHDE\XYZDaFiH\ITHeW] PDh_DjDhDEa.~XFTH~]T]_TIFTFiHZDFH\ITH=G_hX]Ta]TIWE[XD]jTTH]_~ZTE\THQ[]D]eGETEH[TXYZDaaTEiHcGHJG]HD__TjHgDWjcG__TH[TT]EFTFHcI]\bHSIT YZIETXIXYZTHUIEcGZET]XYZDaFHoIEdIDE[XiH\ITH]TIH`DYZFDEF]IFFH`DGH\T\GE[XHZ‧YZXFTEXHTIEH=IT]FT_H]TF]W[iHXFTZFHIjHgT[]IaaiH\ITH\G]FI[TE PW]hJ‧_hT]HeWH~]T]a_~[T_Eb LEH\TEHDZ]TEH\T]H[]GfTEH`G_IFIXYZTEH.I]]TEHcD]H\ITH.TXFjD]hHTIEH]TJG]eW[FT]H{]FH\T]H=T]]DEEWE[Ha~]HD__TH`G_IFIXYZHWEeWJT]_VXXI[TE U_TjTEFTbH[IT]HXG__FTH_DWFH.TIXWE[H\TXHN]GfTEHOFTWT]jDEEXHDWYZH\DXH]GFTH`DE\D]IEDFH_T]ETEiH\DfHXYZcT]THh‧]`T]_IYZTHQ]]TIFiH\ITHF]D\IFIGET__ JT]`‧EFHcD]iHTIEHJG]e~[_IYZTXH`IFFT_HI\TG_G[IXYZT]HU]F~YZFI[WE[HXTIbHSITHMGF[D]\IXFTEHXG][FTEHEDYZHQWX]]WYZH\T]H[]GfTEHKW_FW]]TJG_WFIGEHa~] TIETEHeWXVFe_IYZTEHOF]GjHDWa]DWa]TW\I[T]H|IGEIT]TbHOTIFHIEH\T]HPDh_DjDhDEa.~XFTHT][IT]I[THU]\‧_aHWE\HJG]HD__TjHU]\[DXJG]hGjjTEHTEF\TYhF cW]\TEiH]TIfFH\T]H\WXF]GjHYZIETXIXYZT]H_DYZh]VaFTHEIYZFHD]b .VZ]TE\HjTIETXHQWaTEFZD_FXHIEHc]WjHIHIjH{hFG]T]HMZZdHcD]HjI]HJGjHGaaIeIT__TEHYZIETXIXYZTEH|]G`D[DE\D]~]GHTIETHg]GXYZ~]TH~]T]]TIYZF
cG]\TEiH\ITH\TEHZIXFG]IXYZTEHQEX`]WYZH|ThIE[XHDWaH\ITH.TXFjD]hHeWHWEFT]jDWT]EHXWYZFTbHUIETEHQ]XDFeH\D]DWXH_GZEFHTXHXIYZHIjH.G]F_DWFHeW eIFIT]TEiHcTI_H\G]FH/HF]GFeHD__T]H_]TWE\XYZDaFX]TFTWT]WE[TEH[T[TE~]T]H\TEHRDYZ]D]XFDDFTEH/H\ITHJT]dVZ]FH[T[_DW]FTEH[TG[]D`ZIXYZTE QEX`]~YZTH\TXHMTIYZTXH\T]H`IFFTHcTIFH~]T]H\ITHZTWFI[TEHN]TEeTEHZIEDWXHT]cVZEFHcT]\TEb ^\WHgT[IEEH\TXHETWEeTZEFTEHDZ]ZWE\T]FXbiHXGHXYZ]TI]FH\T]HQWFG]HCZTEHSDdWEiH^]T[DEETEH\ITHKG_GEID_jVYZFTH\TXH.TXFTEXHDhFIJHjIFHIZ]TE QE[]IaaXaHWE\HUR`DEXIGEXaT_\e~[TEbH=GEHLE\ITEHDWXHcIT[T_FTEH\ITHg]IFTEHIjjT]HcIT\T]H\ITHRDYZaDZ]TEHWI[W]IXYZT]H_~]XFTEHDWaiH\ITHDjH[GaT \TXHKZDEXHJGEHKGhDE\H_T]FTEiHWjHIEHO~\aoIEdIDE[HcE]WZTHeWHXFIaFTEbHRDYZHMPnYHXFTI[T]FTEH\ITHcTXF_IYZTEH`VYZFTHIZ]THjI_IFV]IXYZTHgT\]GZWE[i WjH\ITHSIE[aHG\T]H`DE\XYZWaS}EDXFITHeWjHQ]XYZ_WfHWE[_TIYZT]H=T]F]V[THeWHecIE[TEbHCZIEDHcW]\THOYZ]IFFHa~]HOYZ]IFFHDWaH\TEHOFDFWXHTIET] ZD_]hG_GEID_TEHNTXT__XYZDaFHZT]WEFT][T\]~YhFbHRDYZ\TjH\DXHeD]IXFIXYZTHMWf_DE\H\ITHhDXDYZIXYZTHOFT``THWE\H\ITHh_TIETEHUjI]DFTH\TEF]D_DXITEX ]TXTFeFHZDFFTiHEDZjHODEhFH|TFT]X]W][HDWYZHcTIFTHNT]ITFTHTEF_DE[H\T]HYZIETXIXYZTEH.TXF[]TEeTHIEHgTXIFebHUIEHPT]]IFG]IWjHJGEHnYYHYYY SWD\]DFhI_GjTFT]EiH‧XF_IYZHWE\HX~\_IYZH\TXHgD_hDXYZXTTXH[T_T[TEiH\T]Ha]~ZT]HeWHCZIEDH[TZ‧]FTiHcW]\TH\W]YZH\DXHeD]IXFIXYZTHMWf_DE\H]TXTFeFbb SDXHJGEHCZTEHSDdWEH]TXYZ]IT]TETHNT]ITFHTEFX`]IYZFH\TjHKT]E_DE\H\T]HZTWFI[TEHMT`W]_IhHKDXDYZXFDEHjIFXDjFHIZ]T]Ha]~ZT]TEH[DW`FXFD\F Q_jDF}b
_]TIFD[X[T]TFH]TIH\TEHcI[W]TE OYZGEHa~EaeTZEHDZ]THa]~ZT]iHIjHOGjjT]HMZPYiHcD]HTXHjI]HJT][‧EEFH[TcTXTEiH\ITHeWHdTET]H\TIFHEGYZHXF]TE[HD][TXYZI]jFTH|]GJIEeHoIEdIDE[ DWaeWXWYZTEHWE\H\G]FHTIETEHSGhWjTEFD]aI_jHeWH`]G\WeIT]TEiH\TjHIYZH\TEHPIFT_H^CZIEDXHcI_\T]H.TXFTEbH[D]bHSDjD_XHcD]Hc]WjHIHTIE []DWTEZDaFT]H|_DFebHSG]FH_T]FTEHTFcDHTIETH`I__IGEH`TEXYZTEiHD]T]H\ITHEIT\]I[TiH[T\]VE[FTH[VWXT]jDXXTiH~]T]H\T]H\ITH_T]EXTZDEFTEETEHIEH\TE ]WfI[TEHSWD_jH]D[FTEiHXDZHcITHTIETHIjjTEXTHOIT\_WE[HJGEH[‧Z_TE]TcGZET]EHDWXb UXHcD]H]TjT]hTEXcT]FiH\DfH\ITHYZIETXIXYZTEHgTZ‧]\TEHWEXT]HKDjT]DFTDjH]TIjH_I_jTEH\ITXT]H`IXT]THIEHhTIET]H.TIXTH]TZIE\T]FTEbH.I] hGEEFTEHEDYZHgT_IT]TEH\ITHIEXTHDWaHdTETHEIT\]I[TEH[~FFTEH\T]HLE\WXF]ITD]]TIFT]H]IYZFTEiH\ITH[T[TEH\ITHTIXI[TEH.IEFT]XF~]jTHjIFHTIET]H\IYhTE TZjXYZIYZFH]T\TYhFHcD]TEHWE\HIZ]THUIEcGZET]HeW]HURIXFTEeHJGEHP]G[_G\}FTEHJT]\DjjFTEbHgTIHWEXT]T]HOWYZTHEDYZHjWX_IjIXYZTE NT]TFXZVWXT]EHXFITfTEHcI]HDWaH\ITH=T]c~XFWE[XX`W]TEH\T]HMGF[D]\IXFTEbHSITHTEFaTXXT_FTEHdWE[TEH_DEDFIhT]H\T]HKW_FW]]TJG_WFIGEHZDFFTEH[T[TE \ITH`WX_IjTH]TXGE\T]XHZTaFI[H[Tc~FTFiHXITHeWjH=T]eTZ]HJGEHOYZcTIETa_TIXYZH[TecWE[TEHWE\HJIT_THF]TWTHKG]DE[_VW]I[THT]XYZ_D[TEb OTIF\TjHIXFHTIEH]D\IhD_T]H.DE\T_HTIE[TF]TFTEbHQWXH\TEH]ITXI[TEHU_TE\XHWD]FIT]TEiHDWXH\T]HDXIDFIXYZTEHO_Wja`TF]G`G_THc]WjHIHIXFH]IEETE a~EaeTZEHDZ]TEHTIETHXDW]T]TiHZGYZjG\T]ETHOFD\FHJGEHMidH`I__IGETEH`TEXYZTEH[TcG]\TEbHcEFT][T]]DYZFHXIE\HcI]H\ITXTXH`D_iHMZZdiHIEH\Tj _WRW]I‧XTEH[G_I\D}HLEEHJGEHc]WjHIiH\T]H~]T]HKGjjWEIhDFIGEXaHWE\HCGj`WFT]TIE]IYZFWE[TEHJT]a~[Fb =GEHWEXT]TjH_TEXFT]H]_IYhTEHcI]HDWaHTIETHjG\T]ETHLE\WXF]ITXFD\FiH\T]TEH[T`a_T[FTH.GZEJIT]FT_HXIYZHcGZ_FWTE\HJGEH\T]H|_DFFTE]DWjIXT]T \T]Ha]~ZT]TEHOGcdTFWEIGEHWEFT]XYZTI\TEbH=IT]]DZEI[THQX`ZD_FXF]DfTEHT]_TIYZFT]EH\TEHQWFGJT]hTZ]iH\T]H]TDYZF_IYZTHQWXjDfTHDE[TEGjjTE ZDFbHSITH.D]TEZVWXT]HHWT__TEH~]T]HJGEHJIT_aV_FI[TjHQE[T]GFbHSITH`TEXYZTEHXIE\HcGZ_[TEVZ]FHWE\H[WFH[Th_TI\TFbHSDXH.G]FH.I]FXYZDaFXcWE\T] IXFHIEHc]WjHIH\W]YZDWXHDE[T]]DYZFbHSITHOIEIXIT]WE[HZDFHXIYZHXYZTIE]D]H\W]YZ[TXTFeFb cjHhTIET]HPVWXYZWE[HeWHT]_IT[TEiHZD]THIYZHJT]_DE[FiHEDYZHKDXYZ[D]H]TIXTEHeWHh‧EETEbHSITXTHcTIFHIjHO~\TEiHDjH_WfTH\TXHKD]DhG]Wja NT]I][TXH[T_T[TETH{DXTH[D_FHcTIFT]ZIEHD_XHTIETH[GYZ]W][H\TXHWI[W]IXYZTEHRDFIGED_]TcWfFXTIEXHWE\H\T]HIX_DjIXYZTEHMT_I[IGXIFVFbHLZ]TE G]ITEFD_IXYZTEHCZD]DhFT]HZDFFTHXITH\DjD_XHEGYZHIjHcTXTEF_IYZTEH]TcDZ]FiHD]T]HZIT]H~]T]_T]FTHEW]HTIETHXYZV]I[THURGFIhbHSITHgTJ‧_hT]WE[HIEH\Tj N]TEe\IXF]IhFHcD]HeWHaDXFHETWEeI[H|]GeTEFHWI[W]IXYZHWE\HjWX_IjIXYZH[T]_IT]TEbHSITH]T_I[I‧XTHM~Yh]TXIEEWE[H[TcDEEH/H_DWFHQWXXD[THjTIET] YZIETXIXYZTEHNTcVZ]X_TWFTH/HeWETZjTE\HDEHNTcIYZFb Q_XHeTEF]D_TXH]T_I[I‧XTXH\TEF]WjHaWE[IT]FTHcTIFT]ZIEH\ITHL\aKDZa_]TIFD[XjGXYZTTiH\ITH\TEHD_FTEHgDXD]H]TZT]]XYZFTHWE\HDE[T]_IYZHDWaH\DXHDZ] MnnXHeW]~Yh[TZFbHLEH\TEHjG\]I[TEHNDXXTEH]T[T[ETFTEHcI]HhTIETjHQE[TZ‧]I[TEH\T]H[DEaMDXXTbHLEH\ITXTEH=IT]FT_EHhD`XT_FTHXIYZH\DXHWI[W]IXYZa IX_DjIXYZTHKDXYZ[D]HJGEH\TEHa]Tj\TEiHXFTFXH]TJG]jWE\TE\TEHUIE\]IE[_IE[TEHDWXH\TjH[T_]TEH{XFTEHD]bHUXH_D[HXG[D]HO`DEEWE[HIEH\T]HWaFb NT_T[TEF_IYZHXG__FTHTXHeWHQFFTEFDFTEHTIET]H^IX_DjIXYZTEHgTcT[WE[H{XFaPW]hTXFDEXbHhGjjTEbHgTIH\TEHUIEZTIjIXYZTEHX`~]FTHjDEHTIETH_DFTEFT _TIE\XT_I[hTIFbHcEXT]THYZIETXIXYZTEHgTF]TWT]HXYZITETEHT]EXFZDaFHWjHWEXT]THOIYZT]ZTIFH]TXG][FHeWHXTIEbHSITHM~YhhTZ]HeW]HhG]DEIXYZTE _]‧jjI[hTIFHVWfT]FHXIYZHGaFHDWaH]TF]~]_IYZTH.TIXTbH=IT_TH_]DWTEH[TZTEHZIT]HWEFT]H[]G]TEiH]GF]]DWETEH.G__F~YZT]EHJT]jWjjFiH\ITHXITHXIYZ ~]T]H\TEHKG`aHXF~_`TEHWE\H\ITH\DXHNTXIYZFHFGFD_HJT]\TYhTEb \W]HOFWE\TH\TXH_]TIFD[X[T]TFXHZDFFTHIYZHjIYZHjIFHTIETjH[TjW]jT_FTEH^]IXjI__DZH]DZjDEH]DZIjbHWEFT]H\ITHN_VW]I[TEH\T]HL\aKDZa`GXYZTT [TjIXYZFbHOITHZIT_FTEHjIYZHcGZ_Ha~]HTIETEHP~]hTEHWE\H]VWjFTEHjI]H]T]TIFcI__I[HTIETEH|_DFeHIjHJG]\T]TEH^XGaabHTIEbH`IE\TXFTEXHNYYYH`VEET] cD]TEHeWXDjjTE[ThGjjTEiHDWXXYZ_ITf_IYZHcI[W]TEbHUIEHdWE[T]H`DEEHjIFH]_DWTEHQW[TEHEDZjHXIYZHjTIET]Ha]TWE\_IYZHDEbHU]H[D]HXIYZHD_X ^PD_I]biHD_XHKG]DEXFW\TEFiHeWHT]hTEETEb SDXHMIFWD_HEDZjHXTIETEH[TcGZEFTEHNDE[bHgTFT]HD__T]HQ_FT]Xh_DXXTEHcD]TEHZIT]HJT]F]TFTEbHSITHjTIXFTEHJGEHIZETEHjWfFTEHIEHXTZ]HV]j_IYZTE =T]ZV_FEIXXTEH_T]TEbHLEH\ITXT]HNTjTIEXYZDaFHa~Z_FTHIYZHjIYZH\W]YZDWXH[T]G][TEiHD]T]HjTIETHYZIETXIXYZTEHgT[_TIFT]iH\ITHjIYZHDWXH\TEHQW[TE JT]_G]TEHZDFFTEiH[T]ITFTEHIEH|DEIhbH`DEH]Ta~]YZFTFTHcGZ_HcTEI[T]HTIETEHhGEX`I]DFIJTEHKGEFDhFiH\TEHIYZHeWH]TEIFTEFTEHLX_DjIXFTEHXWYZTEHh‧EEFTi D_XHjTIETHUEFa~Z]WE[H\W]YZHI][TE\TIETHcEFT][]WE\G][DEIXDFIGEb LYZHcW]\THIEHTIEH=T]cD_FWE[X[T]VW\TH\T]H^IX_DjIXYZTEHSI]ThFIGEbHD][T\]VE[FiH\ITHGaaTE]D]HTIETHb]T]cDYZWE[XaWEhFIGEHDWX~]FTbH`TIE NTX`]VYZX`D]FET]HcD]HTIEHWEX}j`DFZIXYZT]HcI[W]THjIFF_T]TEHQ_FT]XiH\T]HXIYZHD_XH^`G_IFIXYZH=T]DEFcG]F_IYZT]biHD_XH^jDXQW_HDXXIDXXIbH\T] CZIETXIXYZaIX_DjIXYZTEH=T]TIEI[WE[HJGEHKDXYZ[D]HJG]XFT__FTbHU]HZIT_FHjI]HTIETEH_DE[TEH=G]F]D[H~]T]H\ITHWE]T[]TEeFTH]T_I[I‧XTHPG_T]DEeiH\IT DWYZH\TEH`WX_IjTEHJGEHoIEdIDE[HXTIFH\TjH|ThIE[T]HMTaG]j`]G[]DjjHeW[WFTHhGjjTb ST]HKGEFDhFHeWH\TEHdWE[TEiHWE\HcITHjI]HXYZITEHDWaXVXXI[TEHMT_I[IGEXXYZ~_T]EHcD]HD][T]]GYZTEbHOFDFFH\TXXTEHcW]\THjI]HEWEH\T]H[DW`Fa LjDjHQ]W\WHMIRIFIHKDeIDdiHcTEEHIYZHjI]H\TEHYZIETXIXYZHJT]eT]]FTEHRDjTEH]IYZFI[H[TjT]hFHZD]TiH`]VXTEFIT]FbHST]Hc~]\I[THN]TIXiH\TXXTEHPW]]DE T]TEXGHcTIfHcD]HcITHXTIEHXYZ~FFT]T]HgD]FiHcD]HXIYZT]HTIEH]T\_IYZT]HSITET]HQ__DZXbHQ]T]HXTIEHUIEa_WfHcD]H[T]IE[bH\WjHPTTHcW]\TEHWEX eWYhT]X~fTHP]DW]TEHDWXHPW]aDEHXT]JIT]Fb QjHaG_[TE\TEHPD[H]IEHIYZHEDYZHc]WjHIHeW]~Yh[Ta_G[TEiHWE\H\ITH\G]FI[TEHgTZ‧]\TEHJT]eIYZFTFTEHDWaHOYZ‧EaV]]T]TIbH^.I]HjDYZTEHWEXHhTIET L__WXIGEbiHXD[FTHjI]HTIEHZGZT]H|]GJIEe]TDjFT]H]TIHTIETjHUXXTEHIjH[G_I\D}HLEEbH^SDXH|]G]_TjH\T]HIX_DjIXYZTEH.IT\T][T]W]FHTEF\TYhTEHcI]
DWYZHIEH\ITXT]HMT[IGEbHSDXHcI]\HXIYZHEIYZFH\W]YZHcI]FXYZDaF_IYZTH_G]FXYZ]IFFTHD__TIEH]TZT]TEH_DXXTEbHOGHjD]RIXFIXYZH\TEhTEHcI]HZTWFTHEIYZF jTZ]bHUXHZDFH\IJT]XTH=T]XWYZTH[T[T]TEiH\ITHZITXI[TEH`WX_IjTH[T[TEH\ITH|ThIE[T]H_~Z]WE[HDWaeWXFDYZT_EbHDiHTXHXIE\HWI[W]IXYZTH|D]FIXDETE WE\HOD]GFTW]THIEHQa[ZDEIXFDEHDWX[T]I_\TFHcG]\TEbH\WXVFe_IYZHXIYhT]FTEH~]T]H|DhIXFDEHD]D]IXYZTH|]T\I[T]HTIEbHQWXHKDXDYZXFDEHcW]\TH`G_IFIXYZa ]T_I[I‧XTHQWacIT[T_WE[HIjH`G]FIT]FHWE\HXG[D]HDWXH\T]HP~]hTIbHOTIFH\TEHUReTXXTEH\T]HKW_FW]H]TJG_WFIGEH[TcVZ]TEHcI]HWEXT]TEHRDFIGED_IFVFTEHTIE cTIF[TZTE\TXHhW_FW]T__TXHUI[TE_T]TEiHdDHTIEH[TcIXXTXH`DfHDEHOT_]XFJT]cD_FWE[bHOTeTXXIGEX]TXF]T]WE[TEHZIE[T[TEHcT]\TEHcI]HEIYZFH\W_\TEbb SDjD_XHDZEFTHEITjDE\iH\DfH\T]HQEXYZ_D[HDWaH\DXH.G]_\HP]D\THCTEFT]HJGEHRTcHpG]hHWE\HDWaH\DXH|TEFD[GEH\ITHQF_DEFIXYZTHQ__IDEeHIEHTIET [TGXF]DFT[IXYZTHRTWG]ITEFIT]WE[HecIE[TEHc~]\TiH\DfH\T]H[IE\WhWXYZHeWjHOYZcT]`WEhFHTIET]Hh]IT[T]IXYZTEHQWXTIEDE\T]XTFeWE[H\TXH.TXFTEX jIFH\TjHjI_IFDEFTEHLX_DjHc~]\TiH\ITHcTIFH~]T]H\ITHN]TEeTEHQa[ZDEIXFDEXHZIEDWX[]TIaFb ST]HKDj`aH[T[TEH\TEHPT]]G]HWE\H[T[TEH\TEH^LX_DjGa_DXYZIXjWXbiH\TEHNTG][TH.bHgWXZHeW]HTIF_IEITHXTIET]HQWfTE`G_IFIhHWE\HOF]DFT[IT T]ZG]iHIXFH\TjHXF]TE[TEHYZIETXIXYZTEH=G][TZTEH[T[TEHdT\TH_G]jHJGEHWI[W]IXYZTjHOT`D]DFIXjWXHeW[WFTH[ThGjjTEbH.T]HIEFT]TXXIT]FTHXIYZHIE cOQHcGZ_Ha~]HTIETHJT]ecTIaT_FTHOYZD]HF~]hIXYZIX_DjIXYZT]HMT]T__TEiH\ITHJGEH\T]HU]]IYZFWE[HTIETXHKD_IaDFXHF]VWjFTEHWE\HIEHIZ]TjHhG]DEIXYZTE UIaT]H\TEHDa[ZDEIXYZTEHPD_T]DEHD__eWHEDZTXFDE\TE^HOG[D]HIEH\TEHMTIZTEHJGEHU_HSDI\DHZDFFTH\ITHCLQHTIETHh_TIETHN]W``THJGEHcI[W]TE DWa[TX`~]FbHLEHXTIET]H|G_TjIhH[T[TEH\ITH^K]VaFTH\TXHg‧XTEbHZDFFTH\T]HDjT]IhDEIXYZTHcEFT]XFDDFXXTh]TFV]HQ]jIFD[THXTIET]eTIFH\T]H=G_hX]T`W]_Ih CZIEDH\DXHJG__TH=T]XFVE\EIXH\T]HcOQHDWX[T\]~YhFHa~]H\ITHRIT\T]hVj`aWE[H\T]H^LX_DjIXYZTEHgTcT[WE[H{XFaPW]hTXFDEXbHWE\HIZ]T] XT`D]DFIXFIXYZTEHQ[IFDFG]TEb {]H.DXZIE[FGEHEDYZH\TjHUIEeW[HgD]DYhH{]DjDXHIEXH.TIfTH[DWXHXIYZHEGYZHT]TEXGHhDFT[G]IXYZHVWfT]EHc~]\TiHIXFHEIYZFH[TcIfbHSDXHOFDFT ST`D]FjTEFHZDFHDWaH\TEHEDFIGED_IXFIXYZTEHQWa]WZ]HIEHc]WjHIHXTZ]HeW]~YhZD_FTE\H]TD[IT]FbHSTEHDjT]IhDEIXYZTEHNTZTIj\ITEXFTEHcD]HdD FDFXVYZ_IYZHTIETHMTIZTHJGEHWI[W]IXYZTEH^NGFFTXh]IT[T]EbHIEXHRTFeH[T[DE[TEHWE\HGZETH=T]eW[HIEH\DXHWjXF]IFFTETHD[T]HJGEHNWDEFVEDjG JT]XYZ_T``FHcG]\TEb gThDEEF_IYZHZVFFTH|]VXI\TEFH{]DjDH\ITH=T]Z‧]aHWE\H_G_FT]hVaI[THDjH{XF]DE\HJGEHKW]DHDjH_IT]XFTEHXGaG]FHDWa[T_‧XFiHD]T]HET]TEH\IJT]XTE dW]IXFIXYZTEH|]G]_TjTEHXFT__FHXIYZH\ITH_]D[TiHcGZIEHjDEH\ITH\G]FI[TEHNTaDE[TETEiH\ITHjWFjDf_IYZTEHPT]]G]IXFTEiHJT]XYZIYhTEHhDEEbHLEH\TE QW[TEHeDZ_]TIYZT]HcOag~][T]H]_TI]TEHXITH`GFTEFIT__THb]T_FVFT]HWE\HgGj]TE_T[T]bHQEHIZ]TH[TIjDF_VE\T]HhDEEHjDEHXITHIEH\TEHjTIXFTEH_V__TE EIYZFHDWX_ITaT]EiH\TEEH\G]FH[T_FTEHXITHD_XH[TaVZ]_IYZTHU_TjTEFTH\T]HMTJG_WFIGEbH=G]HD__TjHIEHCZIEDHc~]\THjDEH[T[TEH\ITHWI[W]IXYZTE =T]XYZc‧]T]HjIFHVWfT]XFT]HOF]TE[THJG][TZTEb gTIHIZ]T]HOWYZTHEDYZHNDXF_VE\T]EiH\ITHXIYZH]T]TIFHaVE\TEiH\TEH[VaF_IE[TEiH\ITH\W]YZDWXHEIYZFHD__THZD]j_GXHcD]TEiHcEFT]hWEaFHeWH[TcVZ]TEi ZDFFTH\ITHcOaQ\jIEIXF]DFIGEH\ITHgWE\TX]T`W]_IhHSTWFXYZ_DE\HD_XHgTXFIjjWE[XG]FHa~]H\ITHYZIETXIXYZTEHSIXXI\TEFTEHoIEdIDE[XHDWXT]hG]TEbHSDf TIETH\WXFIjjWE[HgT]_IEXHecDE[X_VWaI[HJGEH|ThIE[HD_XHQaa]GEFHTj`aWE\TEHWE\H\DXH\TWFXYZaYZIETXIXYZTH=T]ZV_FEIXHEDYZZD_FI[H[TF]~]FHc~]\Ti ZVFFTHjDEHDjH|GFGjDYH]T]TIFcI__I[HIEHKDWaH[TEGjjTEbHSITH[]GfTHKGD_IFIGEHJGEHgT]_IEHZDFHIjjT]ZIEH\TEH`WFHDWa[T]]DYZFiH\ITXT] DjT]IhDEIXYZTEH\WjWFWE[HTIETHQ]XD[THeWHT]FTI_TEb QjHUE\THJT]aIT_HjDEHIEH.DXZIE[FGEHDWaHTIETEHXT_FXDjTEHQWXcT[bHcEFT]H\TEHcTXF`DeIaIXYZTEHLEXT_EH`Ih]GETXITEXHcD]TEHdDH\IJT]XTHQFG__Ti \ITHEW]HTIEH`DD]HFDWXTE\HUIEcGZET]HeVZ_FTEHWE\HJGEH\T]HD__jVZ_IYZTEHb]T]a_WFWE[H\W]YZH\TEH{eTDEH]T\]GZFHXIE\iHEDYZH\T]HgTa]TIWE[HJGEH\TE D`DET]EHIEHXGWJT]VETHOFDDFXcTXTEHJT]cDE\T_FHcG]\TEiH\ITH\TEHcOQHD_XHcI__aVZ]I[THK_ITEFTEHeW]H=T]a~[WE[HXFDE\TEbH\WH\ITXTEHhW]IGXTE NT]I_\TEHeVZ_FTHDWYZH\ITHcIEeI[THLEXT_[]W``THJGEH|D_DWiH\T]TEHMT[IT]WE[HXIYZH[T[TEHTIETHXW]XFDEFIT__THaIEDEeIT__THQ]aIE\WE[HDWYZH]T]TIFHaDE\i \ITH[TXF]DE\TFTEHIZD\IXFTEHJGjH=G_hH\T]HcI[W]TEHWEFT]HIZ]TEH|D_jTEHWEFT]eW]]IE[TEbHST]H=G][DE[HTEF]TZ]FHEIYZFHTIET]H[TcIXXTEHKGjIhb .T]HcTIfH\TEEHZTWFTHEGYZHecIXYZTEHMZTIEHWE\H{\T]iH\DfH\ITHLEXT_H|D_DWHIEH\TEHDZ]TEHMZYYH]IXHMZMnH\TWFXYZT]HKG_GEID_]TXIFeHcD]bHSIT []GfTHKGD_IFIGEHJGEHgT]_IEHZDFFTHXIYZH[T[TEH\ITHb]T]XFT__WE[H\T]HcI[W]TEHT]aG_[]TIYZHeW]H.TZ]H[TXTFeFbHST]H\WaD__HZDFHTXH[Ta~[FiH\DfH\DX [VWa_TIEHJGEHLX_DjIXFTEHDWXHoIEdIDE[HDWaHTIET]HcIEeI[TEHLEXT_[]W``THIjHOFI__TEH{eTDEHXF]DE\TEHc~]\TiHcGHJG]HZWE\T]FHDZ]TEHEGYZH\IT XYZcD]eacTIfa]GFTH_DZETH\TXHcI_ZT_jIEIXYZTEHKDIXT]]TIYZTXHcTZFTbHUIEHP]T``TEcIFeH\T]HNTXYZIYZFTb
EFGHIJ
KLMNOPQRSPT
KULNVUWXMLYNPXZNFPSPXNZ[RMLYNXY\N]UL^LMN_X`NaX\WPYW\bXYcdN^UL\LMNeLU\LQRMfYUcN_XM[QcgNPYN^LYNePY^N^L\NhL\dbP_UZUciNKULNjLM\XQRXYWN]PM WMfTgNYPQRNLUYLMNGY\bLcdUfYN^L\NkXYYLSSPl7MUYdR\gN^P\N^ULN8W7bdU\QRLN9UYPU:;PSlUY\LSN`UdN^L`NJP_P\dMLUZLYNcXM\N[lLMN^LY ?UddLS`LLMMPX`N_XNLMW8Y_LYgN^LMNZ[MN^P\N9QRUQc\PSNEXMfbP\NLUYLN]L\LYdSUQRNWMPPY^LMN]PM L\N_XNbPY^ULMdLiNKLM OP`LNCG\cPY^LMENRPdNRLXdLNYfQRNlLUN^LYN?X\SU`LYN[LYdMPSP\ULY\NLUYLYN`PWU\QRLYN=SPYWi 9LUdNBN^L`NKUQRdLMNjLMWUSN_XZfSWLNBN^ULNMG`U\QRLNCXMl\EN^XMQRN^LYNdMfYPYU\QRLYN;LS^LYNaLYLP\NWLWM[Y^LdN]XM^LgNRPdN^ULN@L^LXdXYWN^UL\L\ LUY_UWPMdUWLYNG`bLMUX`\N]ULNPXQRN^ULNU^LPSU\ULMdLNjfM\dLSSXYWN^LMNCbP>NMf`PYPEN^ULN9dMXcdXMLYNWL\QRPZZLYgNPXZN^ULN\UQRN^P\NFPb\ddX`N\d[d_dLi KULNWLM`PYU\QRLYN9dP``L\Z[M\dLYN^L\N?UddLSPSdLM\N]XM^LYNUYNLUYL`NC9PQMX`NG`bLMUX`Nef`PYX`ENUYdLWMULMdgN^P\N\UQRNLM\dN\LRMN\b8dNBN^XMQR ^LYN[X\Pd_NCOPdUfYU\NJLM`PYUPLENBNLUYLN@LWMLY_XYWN\LUYL\NVYUU\N^LMNCUY^UMLQdNMXSLENlL]8RMdgN^ULN^LYNXYdLM]fMZLYLYNjP\PSSLYN^P\NJLZ[RSN^LMNML\bLcdULMdLYNLUWLYLYNG^LYdUd8d PSUdLYNXY^N^LM 9L_L\\UfY\lL\dMLlXYWLYN^U
hLY^LYN]UMNXY\NLUYLMNPY^LMLYNLXMfb8U\QRLYNEUYZSXTYPR`LN_XgN^ULN\UQRNYLY\LUd\N^L\NadSPYdUcNUYNLM\dPXYSUQRLMNjUdPSUd8dNLMRPSdLYNRPdgN^L`NOPQRSPT 9bPYULY\NUYNflLM\LLiNaS\NUQRNU`NZPRMN\bghNDRPMSL\N^LNJPXSSLNPXZN\LUYLMNPX\WL^LRYdLYNHPdLUYP`LMUcP:eLU\LNlLWSLUdLdLgNRPdN\UQRN^LMNJLYLMPS
\UY^N^ULNGY^Uf\NLUYLMN8RYSUQRLYNaX\MfddXYWNLMSLWLYN]ULN^ULNefdR8XdLN^LMNE\dP^f\NVYU^f\N^LSNOfMdLiNalLMN[lLMPSSN^fMdgN]fN^P\NLdRYU\QRL VMLSL`LYdN[lLMSLldLgNLYd^LQcLYN\LSl\dN^ULN?L\dU_LYNURMNUcfiNKULNJMLY_\dP^dNDUX^P^NZXiML_NU\dNlLMLUd\NUY\NDRPf\N^LMNPYU\QRLYNKMLR\QRLUlLNESNFP\fgN]fN\UQRNlUYYLYN_]PY_UW ZPRMLYNLUYLNWM[Y^SUQRLN@LUcPYLM `PQRLYNUYNESNFP\fNUY_]U\QRLYNYLXY_UWNFMf_LYdN^LMNEUY]fRYLM\QRPZdNPX\iNlRYSUQRNP\NlU\NkUYXPYPNUYN@PYPNDPSUZfMYUPNRUY_ULRdiNKULNUSSLWPSLNG``UWMPdUfYN^LMNHPdUYf\NcPYYN^XMQRNKMPRd_8XYLNXY^NPY^LMLN9bLMMLY lLRUY^LMdN]LM^LYgNPlLMN^ULNP`LMUcPYU\QRLN@fM^LMNFfSUQLNU\dN\UQRNURMLMNMLSPdUUcfN]LUdNPYN^LMN9bUd_LNSULWdgNRPdN^ULNLdRYU\QRLN[X\P``LY\Ld_XYWN^LMNV9: @[MWLM\QRPZdgNP\NlLW[Y\dUWdNRPddLgN^P\NkLMMUdfMUX`N^LMNE\dP^f\NVYU^f\ ?L>UQPYf\NLd]PNX`N^ULN;8SZdLNML^X_ULMdiNKULNRLXdUWLYNV9:@XY^L\\dPPdLYN=PSUZfMYULYgNOLX:?L>UcfgNaMU_fYPgNOLcSX\U
AML`^LYSLWUfYNPX\WLlPXdN]XM^Li
KULNeLPY^LMNjGiNBNZ[MNFfMdXWPSNUYN@L\Ud_NWLYf``LYi jLM\XQRLNZMPY_G\U\QRLMNXY^NRfSS8Y^U\QRLMNASfddLYgN^LMNK7YP\dULNbPY\UfYNR8ddLN\LSl\dN^LMN@PM^LNDP`sL\NYUQRdN_XNdM8X`LYNWL]PWdi CHPNAMPYQLN\LNbfMdXWPSU\LNBNAMPYcMLUQRN\UYcdNPXZN^LYNePYWNFfMdXWPS\NRLMPlEgN\fSSN^LNJPXSSLNWL\PWdNRPlLYiNKLMNJLYLMPSgN^LMNAMPYcMLUQR\ JMGTLN]ULNLUYN;LUSUWLYlUS^NUYN\UQRNdMXWgNRPddLNbLMU`LYdEgN^P\N^fMdNCP^N`PYfML`NKLUNWSfMUP`ENXY^N`UdN^L`N[ULSNUY^UPYU\QRLMNE`PY_UbPdUfYNX\NWLlMPQRdiNKULNEM\QRSULTXYW MLUQRLMNJfS^`UYLYNUYN?UYP\NJLMPU\N\Ld_dLNLUYLNPlLYdLXLMSUQRLNZPW^NYPQRN^L`NE^LS`LdPSSNUYN@L]LWXYWi KULNWL`U\QRdMP\\UWLNlMXdPSLNE>bPY\UfYNUYN^ULNkULZLYN^L\NHPY^L\gN^ULNYPQRNEUY
C@PY^LUMPYdL\EgN^LMLYNlL]PZZYLdLNeLUdLMdMXbb\NULMlUS^N_XN^LXdLYiN[XNLM]8RYLYNU\dNYL^fQRN^ULNXYWLRLXMLN@LMLUQRLMXYWN^L\NHPY^L\gN^ULNU` YLXY_LRYdLYNZPRMRXY^LMdNPS\NAfSWLN\LUYL\N=PXd\QRXc:?fYfbfS\NU`Na`P_fYP\lLQcLYNLUYdMPdiNEUYLNYLXLN9QRUQRdNcPbUdPSU\dU\QRLMN?PWYPdLY \P``LSdLN\UQRNU`N;LM_LYN^LMNWM[YLYN;GSSLNUYN^LMN9dP^dN?PYPX\iNOfQRNU\dN^P\N`8QRdUWLNIbLMYWLl8X^LNLMRPSdLYNWLlSULlLYgNPXZN^L\\LYN@[RYL ^ULNWMGTdLYN9QRPX\bULSLMNEXMfbP\gNbL^UdUfYNUYN^ULNfdU\QRLMN9QRGYRLUdgN\L>XLSSLMNaX\\QR]LUZXYWNXY^N\QRLUYlPMLMN9fMWSf\UWcLUdNLUYLN^XMQRPX\NLMY\d_XYLR`LY^LgNZP\d dMPWU\QRLN=LRM\LUdLNlL\Ud_diNKL`NVYdLMbMfSLdPMUPdN^LMNAPdML`LYNcfYYdLN\UQRN^P\ cfSfYUPSLNEMlLNHX\UdPYULY\NYUQRdNLYdZPSdLYiN9QRfYNlLUN^LMNaYMLU\LN[lLMNjLYL_XLSPNRPlLNUQRNZL\dWL\dLSSdgN^PTN\UQRN^ULNMP\\U\QRLNjLM`U\QRXYWNUY ]LUdLYNkLUSLYNHPdLUYP`LMUcP\N\fNcfY\LdXLYdN]LUdLMLYd]UQcLSdNRPdgN^PTNBNPXZWMXY^N^LMN?LY^LS\QRLYNJL\Ld_LNBN^ULN=UY^LMNLUYNXY^N^LM\LSlLY AP`USULNLYNBN\fN\QRULYNL\N]LYUW\dLY\NBNlSULlN^UL\LNcXYdLMlXYdLNJL\LSS\QRPZdN]LUdWLRLY^NdMPXMUG\LYNePR`LYN^L\NDfbPQPlPYPNFPSPQLN_X`NE\\LYNXLSSLM jUdPSUd8dN\dMfd_LY^LYNHPY^NPXZN^L`NjLMlfdN^LMNE`bZ8YWYU\
^ULNYXYWLYNAMPXLYN^XMQRNURMLYN`PcLSSf\LYNhXQR\gNURMLN]US^LN9QRGYRLUdNYL^LYNZML`^LYN@L\XQRLMNlLWLU\dLMdgN\fN\QRLUYdN`PYN\UQRNYLXLM^UYW\ WLRLY_XSP\\LYiNKULN@LcSLU^XYWgN_X`PSN^LMNhLUlSUQRcLUdgNU\dN]LUdLMRUYNPXZN^LYNWLMUYW\dLYNkL>dUSPXZ]PY^NML^X_ULMdgNPlLMNXYdLMN^LYN;fdbPYd\NXY^ PX\WLSLULMdLYN@[\dLYRPSdLMYNcf``LYNWL]PSdUWLNASLU\QR`P\\LYN_X`NjfM\QRLUYiNIZZLYlPMNSLWdN`PYNhLMdNPXZNIMUWUYPSUd8diN9fNZ[RMdLNLUYLN8SdLML KP`LNBNPXQRN\ULNcSX\UbLMdLYgN]8MLNlUYYLY cXM_LMNAMU\dNUYN^LMNHPWLgNYXcSLPMNPXZ_XM[\dLYNXY^N\LUYLNLUWLYLNadf`lf`lLN_XNlPXLYi [X`Nal\QRUL^NlUYNUQRNUYNYGM^SUQRLMNeUQRdXYWNYPQRN9PSbPY^ULMLY^LYN;PZLY\dP^dN]PMNDPlMPSgN^LM LM\dLNFfMdXWUL\LgNPYNHPY^NWLWPYWLYgNXY^N\fN\QRSULTdN\UQRNLUYNRU\dfMU\QRLMN=MLU\N`UdNYLYL`NEYd^LQcLMgN^LMNPS\NLM\dLMNHX\UdPYULMN^LYN@f^LYN^LM GY\LSNkU`fMNlLdMPdiNGYN@PRUPNcGYYdLN`PYN\UQRNYPQRNaZMUcPNU{`LN\L>LEN?PQRdNXY^NEUYZSXTNWL]UYYLYiNhLMNYL`PS\N9L`UYPMLNPYNVYUdML`Z8SSLYN^ULNeL^LN]PMiNKP\N\LULYNYXMNU\dLYdULSSLNCaYW\dN^L\N]LUTLYN?PYYL\EN_XNLM]8RYLYgNLYd\bMUYWdNcLUYLMNjLM_PWdRLUdgNcLUYLMNFRflULgN\fY^LMY
LUYWLZXY^LYiNhULN][M^LYN^UL\LN?LY\QRLYN^LYNjLMSX\dN^LMN^fW`PdU\QRLYNJL]UTRLUdLYNXY^N^LMNYLY\LUdUWLYNjLMRLUTXYWLYN
PQRSTUQURQVWSXQR
YZ[\]^_`a]QWb]_cT]deeQ[_ffg YZQRaRTeZWQ^_hQWi_fjf YZRQ\^_YUXTUWT_[Q_fk^_lj_mn Y[QUd\QR^_oTURd[_ppq Y]ed[WUQrd[^_cd]e\[_lps YW[WX^_tWud_h\SdUXdRd_fpv_mn YbdrQ) ^_YSbdR_vjj_mn^_vp* YiZ\+\QR+\Q^_YmTUST_[Q_fk^_fq^_vv^_sk YiQ,dU[QR_-n^_.dR_lss YiQ,dU[QR_/-n^_PduSX_fq^_vlq YiQ,dU[QR_[QR_0RT1Q_lsj^_vlf YiQ,Qr_--n^_PdXRWdRa]_ks YiWrQ) ^_0dW[dR_lvp YibdXWRW^_cdRW_gl^_*q^_kq2sf YiiQU[Q^_`di3d[TR_vs^_pkp^_psl_mn Y+\WUT^_4TRd5TU_fkj YRd\rT^_6QRUdU[T_[Q_f* YRRT7T_cdadudVdi^_0iTRWd_fvv^_fkp^_fkk YS]Tbd^_WU[n_8QRRSa]QR_ljq_mn YXXWid_9:X5Qi;^_8\UUQUb-/n^_PduSX_fsq =QUQ[WbX_>/-n^_PduSX_ffk^_ljv =]\eWZTi^_o
4]R\Sa]XSa]T) ^_hWbWXd_`n_psg^_lfp^_lgp^_l*v 4WaQRT_fl* 4idRb^_8QiQU_pvj^_pvf_mn^_pvk^_pgp 4TURd[^_ETSQu]_fj 4TTb^_EdeQS_ppf^_plj^_fjj^_fjf 4TUSXdUXWU^_]in_lvf 4TRXJS^_6QRUdU[T_fq_mn 4TR3diIU^_C\WS_psl 4RQmQi[^_cdRXWU_3dU_llv 4\SXWUQ^_YSXTiu]QKCT\WSKCJTUTR^_cdR+\WS_[Q_lsf tdidW_Cded_Sn_?QU5WU_07dXST tdR) WU^_4]dRiQS_pjv^_pjs^_pkv^_pqf^_fvp tQdU^_ET]U_0\UX]QR_q* tQUV_>WdTuWUV_pkk^_fqp^_lfl tWabQUS^_4]dRiQS_ppl^_lf* tWQe_Sn_hVT_tWU]_tWQe_tTeWUWb\S^_]in_fjk tTUSbTW^_teWXRW_lsp tRQ7m\S^_YimRQ[_vlk tSa]WUVWS_o]dU_9?Qe\[Sa]WU;_*v^_lfs^_lvf^_lgf2lgg^_l*v^_l*q^_lsp^_lq* :aaT^_ReZQRXT_lpf :WSQU]T) QR^_t) WV]X_tn_p*q^_psg^_fk* :i_=\b]dRW^_`d]W]_ffp :Uad\SSQ^_8JiSUQ_4dRRSRQ_[T_lg* :U3QR_PdSa]d^_-SedWi_lqv :RZdbdU^_hQaeQXXWU_ffp :\VQU^_PRWU5_3TU_`d3T7QU_fpv 6d\ibUQR^_B WiiWde_s 6QiiWUW^_6Q[QRWaT_vs 6JUQiTU^_6RdUUTWS_fqj 6T[WT^_VSedU_[dU_fff 6TR[^_0QRdi[_gp 6RdU5WSb\S^_]in_fjk 6RdU5WSb\S_>d3QRW\S^_]in_fll 6RQ7RQ^_0WiZQRXT_vvp 6RWQ[edU^_cWiXTU_lf* 6RWQ[RWa]_--n^_[QR_0RT1Q_fsq^_vlk 6R\USQ^_cWa]dWi_lql^_lqg^_vpf 6\b\7ded^_6RdUaWS_fsg 0ded^_/dSaT_[d_fk^_fq^_vv^_vls 0dU[]W^_-U[WRd_fqs 0d\V\WU^_Pd\i_pfg 0d\iiQ^_4]dRiQS_[Q_q^_sp^_ppq^_fl*^_fsk^_lsj^_ls*^_vlv^_vlq_mn 0d\Xded^_`W[[]dRX]d_9=\[[]d;_ffv^_fqg^_fqs^_ljv^_ljk^_ljq_mn^_lps 0Wdu^_0QUQRdi_Sn_/T_hV\7QU_0Wdu 0W5QUVd^_YUXTWUQ_fpl 0TZWUQd\^_YRX]\R_[Q_pj 0T[\UT) ^_=TRWS_lsf 0TQX]Q^_ET]dUU_B TimVdUV_pfs^_lkf 0TRZdXSa]T) ^_cWa]dWi_lfl^_lg*_mmn 0TR[TU^_4]dRiQS_0QTRVQ_lfk 0RdaQ7^_tT\VidS_vf 0RQQUQ^_0Rd]de_sl^_lqk 0RTeXSa]Q) SbW^_=RTUWSid) _vps 0\Q3dRd^_:RUQSXT_W4]QX_pqp^_vlv 0\SXd3_Y[Tim^_Sa]) Q[n_odUdUd_gf^_gs^_**_mmn^_kj_mn^_kq_8dZWZWQ^_Z\S\m_gq_mn
8dWiQ_`QidSSWQ^_[X]WTun_odWSQR_fpl 8diZQRSXde^_td3W[_f*s 8deQUVb\Z\) TUT_->n^_`\iXdU_fp* 8deeQRSbrW\+\dU_lfk 8T\XedU^_4TRUQiW\S_qf 8T) dR[^_ET]U_gk^_pjv^_pj*^_pvp^_pvl^_flp 8\_EWUXdT_lfk 8\eZTi[X^_YiQ,dU[QR_3TU_lj 8\UXWUVXTU^_`de\Qi_pqq^_fjv 8\SSQWU^_`d[[de_Sn_`d[[de_8\SSQWU_8\SSQWU_WZU_YiW_9-ede;_f*f -VUdXW\S_3TU_CT7Tid_fjk^_ff*^_fss -SdZQiid_-n^_id_4dXAiWad^_o--n^_Sa]) Q[n_o
oWSSWUVQR^_8QUR7_gp^_qg^_f*j_mn^_f*s^_ljk^_lfv^_llv^_l*v oT]i^_8Qie\X_fsv oTiZWU^_0QUUd[W_lgs_oTi\eZ\S^_4]RWSXTu]_fk oTUm\5W\S_9cQWSXQR_oTUV;_*g^_fkv^_fsq_mmn^_lp* o\ZidW_o]dU_lfs o\UdrQ) ^_tWU_c\]deed[_lgk_mn o\UdUZdrQ) ^_YZdW_lkf CdUS[diQ^_:[) dR[_fvq CQ_t\a_?]T_f*j_mn_CQZQ[^_YiQ,dU[QR_l*l_mn^_lkp CQQ_o) dU_ZQ) _fkv CQWZUW5^_0TXXmRWQ[_B Wi]Qie_fqj^_vjg CQcd7^_4\RXWS_pkj CQUWU^_B id[WeWR_-n_lss^_lqv^_vpg_mn CQ_?QiiWQR^_VRidU[T_psv CW_PQUV_lfl CWU_=WdT_lfp CW\_>dT+W_lfp CTZdXT^_hWaTid\_gf CTU_hTi_qg_mn C\[) WV_>/n_pfq C\id_[d_`Wi3d^_C\W5_-UIaWT_vvv C\e\eZd^_PdXRWaQ_fpv C\X]QR^_cdRXWU_lf cd_.]TUV7WUV_vff_mn cdaYRX]\R^_tT\VidS_pfp cdadRXUQ7^_CTR[_0QTRVQ_fqj cdaeWiidU^_8dRTi[_v* cdVQiidU^_6QR[WUdU[_[Q_fq_mmn^_fv*_mn^_fks_mn cdiRd\,^_YU[RJ_fjs cdU\Qi_--n^_Z75dUXn_odWSQR_ffk cdT_.Q[TUV_vv^_pvs^_pkj^_pkk^_pqj^_fpl^_fl*^_f*g^_f*s^_fkv^_fkk^_fsv^_fs*^_fqf^_fqg^_fqs^_ljg^_lfj_mn^_lfl_mmn^_vpf^_vfl_mn cdRaTS^_6QR[WUdU[_fgf^_fgk^_f*l_mn^_f*q_mn cdRaTS^_-eQi[d_f*v_mmn^_fkj cdRWTU_[\_6RQSUQ^_cdRaKETSQu]_pfq cd\V]de^_`TeQRSQX_p*v2p*k ca4dWU^_ET]U_pqf ca4]R7SXdi^_`XdUiQ7_Yn_vjl^_vjs cQd[^_cdRVdRQX_pfg^_p*f cQ[) Q[Q) ^_teWXRW_Yn_pkk^_vjg cQW_.]dTRTUV_p* cQi3WiiQ^_8QRedU_pkl cQU[Q^_?WZTR_vll cQRbQi^_YUVQid_k_mn^_*v^_fsv^_ljv cQSSUQR^_HQWU]Ti[_lj* cWXXQRRdU[^_6RdUUTWS_pvf cid[W’a^_HdXbT_kf cT]deeQ[^_PRTu]QX_s^_kv^_k*^_pjf^_pqp^_pqg^_fjg^_fjk^_fp*^_ffp_mn^_ffk^_flq^_fvs^_fsk^_lvq^_lk*^_vpj^_vfp cTRdiQS^_:3T_vlv c\SQ3QUW^_ZT) QRW_odV\Xd_fl c\S]dRRdm^_PQR3Q5_gs hduTiQTU_=TUdudRXQ_lq_mn^_plj^_fkv^_lss^_vlf^_vlq hd+Sa]ZdU[_=\b]dRW^_=d]dK\[K_tWU_ffp^_lqp hdSdRZdrQ) ^_h\RS\iXdU_llk^_llq_mmn^_lv*^_lgg^_lgs^_l*p_mmn^_l**_mmn^_lkj_mn^_lkq^_ls*^_lsq hdSRdiid]^_8dSSdU_llv hdSSQR^_0dedi_YZ[Qi_fpl hQ]R\^_Ed) d]dRidi_pl^_v*^_fjs^_fpl^_fqs
hQR\[d^_PdZiT_pkp^_psv hVT_tWU]_tWQe_gs^_ljq hV\7QU_4dT_o7_f*l^_f*g hV\7QU_/dU_?]WQ\_f*j_mn^_f*l hWQX5Sa]Q^_6RWQ[RWa]_pp hW,TU^_HWa]dR[_f*j^_f*k_mn^_ljk^_llv hbR\ed]^_o) deQ_fpl h7d5T) ^_`dudRe7RdX_lsq VZded^_=dRdab_8\SSQWU_k_mn^_pg^_pg*^_pqj^_pqf2fjf^_fjv^_f*p^_ljv^_vjf_mn^_vjg^_vjs^_vfs^_vv* VedR^_c\iid]_cT]deeQ[_lqf^_lqq VR) Qii^_0QTRVQ_vvs VSded_ZWU_Cd[QU_pkg_mn^_llv^_lsg^_vjl^_vfj VS) di[^_CQQ_8dR3Q7_pss Pd]iQ) W^_cT]deeQ[_HQ5d^_`a]d]_pp^_gs PdUmWiT) ^_-) dU_lvs PdRb_4]\UV_8QQ_f*l^_f*g_mn PdXXQU^_4]RWS_fsl Pd\i\S^_6RWQ[RWa]_lsp PQ[RT_-n^_odWSQR_3TU_=RdSn_vlq PQRS]WUV^_ET]U_En_fvq^_fkj PQXQR_-n^_[QR_0RT1Q^_.dR_lsf^_lqp PQXQR_---n^_.dR_lss PQXRdQ\S^_td3W[_8n_vjl PQ7RQmWXXQ^_YidWU_fqj P]WiWuu_--n^_SudUn_oW_8\dUV[W_pkk^_fkv^_vjq Hda]eTUT) ^_:eTediW_`a]dRWuT) WXSa]_lqs HdeTSK8TRXd^_ETSJ_f*^_ls^_gf^_**^_*s HQWUd[T^_YimRQ[T_Yi3QS_*k_mmn^_kp HWaaW^_PdXQR_cdXXQT_fss HTTSQ3QiX^_?]QT[TRQ_pgk^_fvk_mn HTSQUZQRV^_YimRQ[_pj HT\SSQd\^_EQdUKEda+\QS_ppv H\[[^_oQ3WU_pjv^_pj*^_ppp^_pvl^_flp `d[[de_8\SSQWU_gk^_psj^_ffs^_fg*^_lls `did5dR^_YUXAUWT_[Q_ViW3QWRd_vl_mn^_v*2vq^_fkp^_vlq `diWrQU[d^_RRb\rd_lql_mn `dU_cdRX@U^_ETSJ_[Q_vl* `dRZdrQ) ^_od[7RZQb_vjg `dRXRQ^_EQdUKPd\i_fgs `a]dii_3TU_=Qii^_PdXQR_Y[de_fss `a]Q) XSa]QUbT^_?dRd_lqp `a]iQVQi^_6RWQ[RWa]_lj `a]eW[X^_8Qie\X_fsv^_lfv `QQabX^_8dUS_3TU_fsl
`QiWe_-n^_TSedUn_`\iXdU_lsv `]dbQSuQdRQ^_B WiiWde_vlf `W]dUT\b^_hTRT[Te_PRWU5_qg_mn `TQbdRUTu\XRW^_cQVd) dXXW_fps^_ffg `Tim^_B Wi]Qie_pgs `TiSa]QUW57U^_YiQ,dU[QR_l*v `TUVXSQU_0deuT^_XWZQXn_o\dU_.dUV_lpg ZdSSd3W^_8T[Sa]d_Y]eQ[_lkf^_lkg_mmn Z T\UV]\SZdU[^_6RdUaWS_vps Z\[]T7TUT^_`\SWiT_=deZdUV_fps^_ffg^_fvl .dRdX]\SXRd_pp^_vpj .]QUVK8Q_llp .]T\_:UidW_fpl .Tid^_”eWiQ_lf*_vgk
ABCDEFGHIJHDIJFDKLCMFJNLOHDPQRJDLSPDILJDTQUJHDUJLHJF EJCVFWSPCVQFNHJFDXJYJXJHNYLSPDXJWHIJFNZDKQCDXLYNDHLSPND[GFD\JFCOHJHDIJC ][[JHNYLSPJHD^JRJHCDBHIDIJFJHDABCCQXJH_DILJDJ`QMNDa LJIJFXJXJRJHDa JFIJHZ bJLDIJFDcFQHCMFLVNLOHDdOHDABCIFGSMJHDQBCD[FJUIJHDeVFQSPJHDPQRJDLSP ULSPDQHDILJDGRYLSPJ_DQYYXJUJLHDdJFCNWHIYLSPJDeSPFJLRa JLCJDXJPQYNJHZ
AYYJDfJSPNJDdOFRJPQYNJHZDgHRJ[BXNJDTBNhBHXJH_D a LJDJNa QDiJFdLJY[WYNLXBHX_DiJFRFJLNBHX_DeVJLSPJFBHXD OIJFDjRJFNFQXBHXDM]HHJHDhLdLYkDOIJFDCNFQ[FJSPNYLSPD dJF[OYXNDa JFIJHZ
\FOVlYWJHDLCNDJLHDiJFYQXDIJFD gYYCNJLHDbBSPdJFYQXJDEURm PebTDQRSkTk45QkQ6XXYk4 ZDgYYCNJLHDbBSPdJFYQXJDEURm_DbJFYLHD6XXQD AYYJDfJSPNJDdOFRJPQYNJHD ^JMNOFQN[D\OFHJYLQD^Q]BQD ^QFNJH[DcPOUQCDmQUUJFD eQNhDBHIDJbOOM[D^iKDEURm_DbJFYLH
PQRQSTUVWXYYZ[\RX]S ^QST_Q`TabTcQbTbQ]QbTd\YRQbTdSaQ` 3456789:8;6<9:65=6789:8;6>?@A?AA9BCD;E8; F8AD;C8;6<9:67GHD:ID<JGHB?E K7LM6NOPQ3Q4=NQRO34OQ4
M?GH6C8<6S;C86C8J6T?B:8;6T@98E8J6:@?:6C8@6U 8J:8;6?BJ6798E8@6C8@6F8JGH9GH:86?DVW6>@XHI89:9E6H?:6Y8:8@67GHZBBQ[?:ZD@6\Z@6C8@6KJZB?:9Z;6]DJJB?;CJp6C8@6SqrBZJ9\9:s:6C8J6M?H8;6tJ:8;J6D;C C8@6u8@?DJVZ@C8@D;E6CD@GH6vH9;?6E8w ?@;:W6xDGH6C986?y:D8BB8;6TZ;VB9y:869<6T?Dy?JDJp69;6Y?y9J:?;6ZC8@69<6K@?;6H?:68@6J89:6B?;E8<6\Z@?DJE8J8H8;W67986?BB86J9;C6C986zZ@I89GH8;689;8J ;8D8;6T?B:8;6T@98E8Jp6C8;6C8@6U 8J:8;6;D@6\8@B98@8;6y?;;W {xDV6E?;I6D;rZB9:ZBZE9JGH86U 89J86yZ<<8;6JGH?@V86rZB9:9JGH86x;?B|J8;6IDJ:?;C8p6C986J9GH6JZ6Jr?;;8;C6w 98689;6xA8;:8D8@A8@9GH:6B8J8;W} >x~ {7GH?@V86@:89B86J9;C689;6?@y8;I89GH8;6\Z;67GHZBBQ[?:ZD@p6\98B86C@?
Y]tY[SM6zS][xF w w w Wr@Zr|B?88;Q\8@B?EWC8
KLMNOMPQNRSQNTLPUMSNVWNXYZP[MSN VWN\]^ZPUN_``ZSYZMaZP
DEFGHEIJKLMNEF OPQGRFESFTGUESGVQGRFESFTGWXY Z[\\E]^_TJFT `F\_T^FTGUESGRaN_Sb_UWaN]LJ cRHdGePfZVZgheZiPVgfZQ
jkGlI\FKSGmMMFTNFEUFKnG^FKGobLSFKG^FKG[SIU\IU\FcnGbdN]SGb_G^FTGWaNE]]FKT^WSFTG.EJ_KFTG^FKG/0TJFKFTG1FESJFWaNEaNSFkG.0KGENKFGJ]dTbFT^FGHEIJKLMNEFG^FWGLUFKE2LTEWaNFTG3N4WE2FKW ^F_SWaNZ/0^EWaNFKG[\WSLUU_TJGFKNEF]SFTG^FKGjI_KTL]EWSG5LEGHEK^G_T^G^FKG6EWSIKE2FKG7LKSETGjkGRNFKY ETG^FTG\FJFNKSFTG3_]ESbFKZ3KFEWkG89FUM]LKEWaNG]LWWFTGWEFG^LWGDKLULGFETFWG.IKWaNFKW ]F\FT^EJGY FK^FTnG^FKGWEaNGbY EWaNFTG8K2FTTSTEW^KLTJG_T^GFSNEWaNFKGbFKLTSY IKS_TJGFTSWaNFE^FTGU_WWk o8ETFG\KE]]LTSFGHEIJKL:EFG;GFETGL_:Y 0N]FT^FWG< FK2kGDEFGHEIJKL:EFnGL_WGJFbFEaNTFSGUESG^FUG3_]ESbFKZ3KFEWnGFK2_T^FSGTEaNSGT_KG^FTG7FTWaNFTGmMMFTNFEUFKnGWIT^FKTGULaNSGL_aNGFETFG1FES Y EF^FKG]F\FT^EJnGETG^FKG^EFG3N4WE2Gb_KG\FWSEUUFT^FTGDEWbEM]ETG^FWGQikGjLNKN_T^FKSWGY _K^FG_T^GETG^FKGWEaNG< EWWFTWaNL:SG_T^G3I]ESE2G_TNFE]=I]]G2KF_bSFTkc D8lGR3c8`8>
3lm3?>@8dGb8l>[` Y Y Y kMKIM4]LFFTZ=FK]LJk^F
