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JdA S<,1+* S(=(, >,H+,1232,G '?J>,)?-?, S?,>)H?,?S>1>*] 1?*G #+1<)+=Y<*3> S>10>1?* ;?*;+,0> S>* )?J=?T J>=+S2,-+, +12,)2NR+H2,+ J<*<-<*G "3>=>)? S(/(J /?* +/2*2*A @(,J( $H1q) -(,/+H2 >@>, /?,> J+-*F1+*+ >;=>/+@ L+*-2*A )?N*<=>/?=> =+J->* ?-?* +)+ S< /M,?=>) S>@>)>,>, (P?*>,-? ?, @FJ -<*-<3< /?*>A L?J>11?*>, HF*<)1<1<3<-<*G O>1;+J>J+A 5L*A ;(**>/?=>A ?),>/?=> H+31+/+, S>* )?H<1>/?= ,>P+)2 L+*-2*i )?H<1>/?=]> L(J?1+G $H1q)E-+ )>11?= )?R1>H> /FJ=<*G 5)+ S>* Z?;1]> ;+1 L? +J-Z P()*?H> L+*G "HJ> $H1q)E2, /(JH?1>N> S< P()*?,>, ?H?*>->*G Q?)H>1f ;(J()?=A >-+*?R>1?*> )<*+J+S? >@>, S>* L+H2=+-2* H+-?R?G $H1q) R?)>/?=>A )<;=?1>Y >@=>)+f L? >J=>H+-f )?,Y++=1?*>, @+=2N=232 S>* =FT1<1<J -?3>1->*i g+/,+N)2N S>* S(=(,-(*A ;+L+H >1? +L+)-+, >S+*?= S>* S(=(,G ";*+)2, P>*L?H>,-? >H? Z;+1 L? +J- ?*S+S2ZG 4+,> N?*>+=2, =?)H>1R>H> F1+, <1?)+ H2,2Y2GZ n+N+E/+ 0M*?A >H1q) -?L1?=1?*>,>, P?L+1>A <1?)+,2, <)<*]< H>/+H>/?/? /+S+,R2 J+1)+1+*2 /(P(,-?,->*G 8+/*?-->,E>A SM/1? S>* =?N;>H? 0M=(*?, +)>1 ,?/-> +R+S+r Q(*J>/? L? E#$]*"#, /+P+*2 ",0?1;+*-=E+ 0M*?A [1U#$/B3 #?] H+1>Y?E>A 5S-(1+P>P 8+,E-+ 0M*(1?, )<=1+J2/?= =?)+/(11?*> >1;+) ?=)>NG Q(*J +/-2,1+*2,-+ )(T;?) F1+*+J S?1>*?, ?,->N?1?*> ->1? 0?=>*)>N 8+/*?-->,G 4+,>A Z#<J+-->)?E,>, +,+ Y>J>*1?*>A Z0?*?J T+/>=+;=E=+A 0?*?J S+N12R+ L>1+/?= )?*J?P1?*>,-? +*+ H2*+ ;+Y>Y F1+*+J H< /(P(,? @2J+,Z -(N(,R?1?*>, T*F0*+)1+N)+H2,-+, >S+*?=G n+N+ -?* J>i ", )(J?))?1 >,H+,2, S>1? P+)+, P+)+, ;?L?H1?*>,?A >;=>*+H1+*2,+ J+T21-232 F1<*G %>/+J+=1> S>* ;(J()-+* >@>, Z())?=>, <)d*]2 ;(J()?=? >N=>*+J>A L(J?1+,2, )?H<1>/?=>ZA ;(J()?= >N1?*>,-? )<*+J+S?A 0?*@?J S>* ,>)?==>*G 8?1? ;(J()-+* 1>/+J+=H>PH?

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*=, +*J+H2 J?H>1)?PH? n+->N+; ;+1 ?->1>*G Q+;=+ +/,2 +>1?-?, S>* S+NJ+H2 @2J+*212*G I>* J?1>)?/1? 5L*11?= )?R1>H>,-?, S?J1?->3> 0M*?L>A >H1q) -(,/+H2 <1?)+ L? L(J?1+/+ /(J1?)>N=>*G Q?Y=>N L? )<*+J+S? >H1q)E-+ 5L*)->*u @(,J> /+1,2P -(,/?Lf S>* /(J()1(1(J -?3>1A ->,= S>* L?R>S?->* -?G K(1?/)+, g+,<,,+)?H>,? *>+/?= ?->1->3> )(--?=@? X?L1?=]> 51>//? /(JH?1)?J=? -?L+) ?=)>Nu S< J+,<,-+, >,;>*+YA >,J2*+P2, S+N1+,02R2 F1), >-S+*2,2 ,>P+)]2 J+->)>, SFP<1H1q)E2, N>+*2 F1+, +-+1?=? 0M10? -(N)(NA R+, L? )+1 ?),>/?=> S<1+)+/+, 82*>H=>/+, =?SE+ S+NJ+ -?L1?=1?*>, ;>)+/?H>,> +*+* F1)@>, S<1<,)+P S>* )(-+;+1? L?H>1?H>G

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*+ @2J+S>1)?H> -?)?JG K>/+Hf ;(**>/?=GA >/> +)+A M,R? -?L1?=>, S?J+H2G I< ;?-?Y=? S>*1?N>/F* ),-? +/,1H+J -+ S?>H /FJG 8+/*?-->,A =?SE+ +*+H2,-+ SM/1? S>* +,1+/2N S>*1>3> F1)+-232,+ >,+,2*G X?L1?= J?,-> J?,->,> JF*<)+J PF*<,-+-2*G 5L* -? H+-?R? ;+,?-+, =?S?--(1( 0>S>A =?Y?**<+= J+S>1>,-?, S>* =?;1>J? >;=>)+1>,> -(N(,?*?J H>/+Hf ;(**>/?=> J2H2=1+)+-21+* )2r t/H+ S>P-? =?;1>J? @FJ -+;+ R>--fG W1J?)>P-? @?N>=1> J+L>)1?* /+N+)+J=+-2*u S<,1+*2, @F3< -?L1?=>, *?H)f ->1>,> S>1)?P L? J?,-> +*+1+*2,-+ -+ +,1+N+)+P1+*G I(=(, J+L>)1?*>, =?)H>1R>1?*>,> S>* +*+/+ =FT1+/+, S>* )?R1>HA I+S>1 J<1?H>,? S?,P?)>/?R?J )>r I>* J2H2) L+=+,-+N1+*2 SM/1? S>* ;+J=+, )+;*<) ?=)?J >H?A ;+JJ+,>/?=? +/J2*2G X?)?J J> I+S2q1>A =?SE+/+ +N2, S>* ;(**>/?= L?*)?)?J L? )>11?= )?R1>H>,? >1=>Y+= ?=)?)?J PF*<,-+-2*G 5)+ S< 0?@>R> S>* -<*<)i W1J? >1?*1?)?J=?->*A /+*) ?,0?11?* J+1J+R+J L? =?SE+/+ 0?,>N S>* ;(**>/?= L?*>1?R?J L? >H=?,>1?, )?R1>H J<*<1+R+J=2*G %>S?*+1>P)? 0?@?)>/F*H+J S<,<, S+N12R+ H?S?S> 5L*->*G 5L* 51>//?E,>, J?,-> =?SE+H2 (P?*>,-? J+P+ ;+JJ2 F1)+-232,2 >-->+ ?-?R?J J+-+* >,H+YH2PG X>JJ+=? 1+/2J -?3>1 )>r Q+,P>)+=E2, S(=(, S(/(J -?L1?= +-+)1+*2 S>* )>11?= )?R1>H> J<*<1)+H2,2 P+)+,H2P S<1)+J=+-2*G BhDeE-?A #>-;+= n+N+E,2, )?N*<=f *?c>)> S(=(, Y?,+12J1+*2 M,1?/?R?J S>* =?-S>* H+/)+H2A O<+= n+N+E/2 0(1()H?=>*G ZI< P+=+ M3*?=?)?->J J>A -?*GA TF1>=>J+-+ Nq;] -q*d1+*) [T+],+R??_ /?*> /FJ=<*ZG^

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W@ -?L1?= N?J1> >@>,-?A IF->, ,>@>, )F,+*N>/> =?*R>; ?->/F*r KF,*+ =?*R>; ?==>3> S< )F,+*N> ,?->*r #F,+*N>/> =?*R>; ?->/F*A )F,+*N>/> /+,>A ;+=2*1+=+12)A )<=1+J ;qJ>)>/?=>, =?J ;(J()-+* ?(,-? =FT1+,-232 -?L1?= N?J1>,>G I< =?*R>;>, S>*@FJ H?S?T1?*> L+*G "LL?1+ =+S>+=+ ?, ) )F,+*N>->*G ZQ+S>+=2, S(=(, J+,<,1+*2 S>P> )F,+*N>/? 0M=(*(/F*ZG X?L1?=>, M*,?3> F1+, +>1?-? *?>H =?J=>*G `MJ/(P(,-? =?J 0(,?N L+*G X(,/+/2 >-+*? ?-?, Q+,*2 =?JG Z7>=?J>)A ,? J+-+* ?HJ>/? A J?,->1?*>,> =+S>+=2, >1;+)2,+ =?*J?-?, S(=(, J+L>)1?* )F,+*N>-?, S+NJ+ -?L1?= N?J1> =+,2)+)2N1+*-2*ZG $J,+ ?->1)?)>N -? F1H+A +3P2) +@+R+J ;+1> J+1)+)2N=2* FJ, Z?0?)?,1>J ;+JJ2Z,2, +=?N1> S>* ,+P+*>/?R>H>G "L?=A )(R?**?= F1+*+J )<=1+J ?0?)?,1>JA T?Jq1qA ;+1J2, -+ ?1>,-? F1+S>1>*A +*>H=FJ*+H>,>, -?A =?J ;(J()-+*2, -+G O+J+= =+=S>J+==+ S< )<=1+J ?0?)?,1>JA =+JH>) J+S<1 ?=)?P +1q)?=1?]*>/1? +,R+J )F,+*N>-? J?,->,? 1q/2J S>* F*0+,A J S>* -?H=?JA S>* H(*?J1>1>J =?)>,+=2 S<1<*G IF->,E>, )F,+*N>/> =?*R>; ?->N>,>, >J>,R> H?S?S> S<-<*G ZO+J+= -?L1?=>, R+, +12R2 ,FJ=+H2 ;qJ>)>/?= ;+JJ2-2*G 8qJ>)>/?=A -F3**H?A )F,+*N>,>, -2N2,-+ )?LR<= F1+)+PA +/+J=+ -<*+)+PG 9>*+ S>* -?L1?==? +,R+J S>* J>N> ;(J()*+, F1+S>1>*u >J>A (@ L?/+ -+;+ Y+P1+ J>N> L+*H+ ;>@S>*> ;(J()*+, F1+)+PG '(,J( ;>@S>*> M=?J>,? Y?*)+, ->,1?=?)?PA J?,->H> -? S+NJ+H2,2, Y?*)+,2,2 ->,1?/?)?PG I>*@FJ S?/1?*-?, J<*<1< S>* ;?/?=>, L?/+ ;+1J2, ;qJ>)>/?=> ?1>,-? =<==<3< -(N(,(1H(,G t,1+, S>*S>*1?*>/1? J+/,+N=2*+R+J ?0?)?,1>J 0(R(,? H+;>T S>* S+NS<3 /FJH+A SM/1? S>* ;?/?= L?/+ SM/1? S>* ;+1J ,?*?/? -+/+,+R+JrZ X?L1?= /+P+*2,2, )F,+*N>/> =?*R>; ?->N>,>, (@(,R( H?S?S> -?A )F,+*N>-?A ?;1>/?= H+;>T1?*>,>, -+;+ S(/(J S>* >H+S?=1? H?@>1?S>1)?H>G %,+

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@)?)A J>)>, 2N2J1+*2,+r `>*>N=>3> Z,+) Z>NZ>, )>r t/H+A >N>, Z2N2J1+*2,+ 0M*? -?3?* S>@)?Z 0>S> S>* =<;+Y12J HMP JF,1->* =+S>fG 5J+-?)> (/?1?*>,>, +,1+/2N L? S>10>H>,? ;+/*+,12J HMP +*-

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Z#+-?) J> J+,<, +>1?-? S(/(J ?L1+=A J(@(J ?L1+= ->/? S>* J 0MP?=)>/F*A )>*+H ;+JJ2 /F1* Y+*J2 ,?-?, HF/-+,A F/)+J=+,A )>11?==?, -? J+1-2*)+H2,rZ tJ1?*>)G Q?*R()? >1?*1?->J@? =<;+Y12J1+* >,H+,2 *+;+=H2P ?=)?/? S+N12/F*G `(1)?J )>A +31+)+J )2 1qP2) S>1)>/F*<)G Q+,, 0?,@ FJ
mE2`ED" c2` d"02`2 BENC# #_[!C$c2!2$2D H"`X0"D!"`2

p,()-? S>* J>=+T -<*1>)>, M,?)>,> +,1+=+, +*J+ J+T+JA ?H?*>, ->1>)>P? N+>* !?)+1 Kd] *?/+ =+*+Y2,-+, @?L*>1->3>,> S?1>*==>J=?, HF,*+ ZI< -+ -?3?*>,> +*=2*+, +/*2 S>* MP?11>J=>*Z ->/F*G h s+>*>, N+>*> @?L>*)?H>,? +12N)2N=2JG X?1>11?A O*+,H2P 5J+-?] )>H>E,> %?H `?F*0=y1? Y?=;?=)?-> )>r `?*+*- -? 7?*L+1E> M1()H(P1?N=>*?, J?,-> N>>*1?*>,-?, @FJ OFG "-0+* nF?E/< -(,/+/+ =+,2=+, I+<-?1+>*?G 4?,> F1+,A S>* N+>*>, ZF1<)1< S>1>)1?*Z? ?1 +=)+H2A >=>*+Y ?-?1>) J> IF<=SF<1E<, +32*A /+T2NJ+, L? =+=H2P >Y+-?H>,> P?LJ1? FJ<,<* ;+1? 0?=>*)?J >@>, S>* N+>*>, ;>))?=>,? >;=>/+@ L+*-2G 5)+ H+/2, !?)+1 K(*?/+ ;>))?==? S>*+P >1?*> 0>=)>NG Q?*R()?,>, S+P2 R()1?1?*> 8?*+J1?>=FHE<, ;>J)?=1?*> 0>S> J+*+,12J L? ?H*+*12A S+P2 R()1?1?*> N<; S>* /FH)+ J+-+* H+-+J+=H>PG Zs>>*H?1 S<1=+S2, >H)>,-?, S+N12/F*i QFT1<)S>1>)>, Q+*>;>G KFH/F1Fc> -(N(,R? -(,/+H2,+ !F)=?E<, +*)+3+] h IF<=;F<1A QFT1<)S>1>)>, Q+*>;>A o+*12J /+/2,?L>A BCeBG bbV

)?1?P S>* J?1>)?A S+;=H2P #* J?1>)? +)+ =+T<1P/F1Fc>A HFH/+1 Y>P>J 0>S> *+J>T1?*>,> ,<==<*)*)>N J?,->,>G Q(*J X+*(1Y(,<,< Z>@=>)+>/+=Z2 S?,>)H?)>NA Q(*J W,>L?*H>=?H> HFH/F1F]c>Z/>G QFT1<)S>1>)>, S>* S+NJ+ )+;P<*< -+ ;<J<J FH/F1Fc>H>A >J=>H+= HFH/F1Fc>H>A H+,+= HFH/F1Fc>H> 0>S> +)1+)+1+*-+ J<11+,21+)+/+R+J J+-+* 1>)>, =+*>;>Z -?3>1A Z=FT1<)S>1>) =+*>;>Z H+,+= =+*>;>A ?-?S>/+= =+*>;>A Y?1H?Y? =+*>;> 0>S>_G Q?*R()?,>, >1J R()1?H> S>1)?R?/? S?,P>/F*i ZQFT1<)H+1 F1+/1+* (H=(,? -(N(,R?-? ?, S?1>*0>, >1?*1?)?1?*A F1+/1+*2, +12N21)2N @>P0>1?*>,> L? 0?1?,?JH?1 @MP() /F11+*2,2 +H)+H2/1+ )?/-+,+ 0?1?, S<,+12) -M,?)1?*>,-? /+ -+ F*=+/+ @2J+, S<,+12) -F1+/2H2/1+ F1)1>*->i ZQFT1<) F1+/1+*2/1+ >10>1> -(N(,R?1?*-? J+/-?->1?, ?, S?1>*0>, >1?*1?)?1?*A S<;*+, -?L>*1?*>,-? L?/+ S>* S<;*+, -F1+/2H2/1+A F1+/1+*A +12N21)2N @?*@?L?1?*>, L? @MP() /F11+*2,2, -2N2,+ @2J=232 P+)+, 0?*@?J1?N)>N=>*GZ

$J>,R> R()1? -+;+ ,?Y>Hi Z'(,J( -?3>N)?/> J+L*+)+)2P +,R+J J?,->1>3>,-?, F1/F*i Z!+* ,Fi Z9>*+ =+S>f F1+*+J +,R+J -?3>N>J1>3> Y+*J?-?*>PZG W@(,R( R()1? S>* ;+*>J+i ZX(P?, S>*1>3> H+31+,)2NA F=<*)* -?L1?==? -(N(,R?)>P> S< +@2-+, [;+,0> +@2-+,rr_ ;>@S>* N?/ v X?L1?= -(P?, S>*1>3>,> H+31+/2,R+ -(N(,R? HFH/+1 -(N(,R?,>, =?J J+/,+32 +,+*N>G !F)=?E)E2 KT?,R?*E> /+*+=+, ;?T ZF=<*)+)2N -?L1?=1?*ZG IF<=;F<1 NM/1? ->/F*i ZX+,H <, ?=+= <,>YF*)? ?= H=+S1?A ,F=*? +==?,=>F, ,E?H= T+H HF11>R>=??ZG Q(*J@?H>i ZX(P?,1> L? J+*+*12 S>* -<*<)-+ ->JJ+=>)>P> 0?*?J=>*?, S>*N?/ /FJ=<*ZG X?L+) ?-?1>)i ZQFT1<)S>1>)A -F3=>S+*?, S>* ++%

F,@>,-? >P1?/?, =?J S>1>) -+12-2*GZ O*+,] O*+H2PR+H< Z%+ HFR>F1F0>? ?H= 1+ H?<1? HR>?,R? y<> -?H H+ ,+>H])R? ;8= TF<*H<>L> 1E?=<-? -E<, FSc?= ?, LF>? -? =*+,HYF*+=>F, T?*T?=i ZKFH/F1Fc>A -F3,R?1?->3> JF,< SF/<,+ -?3>N?, =?J >1>)->*GZ K+/2, !?)+1 K(*?/+A S>*J+@ H+=2* HF,*+ NM/1? ->/F* Z8?* ~T1<)-+A S?1>*1> L? @FJ ?,-?* F1+*+J -?,?/H?1 ,>=?1>J =+N2=+, S>* =FT1<)S>1>) L+*-2*wG O*+,H2PR+H2i Z66 ?k>H=? -+,H ;+y?=? <,? HFR>F1F0>? 1+=?,=?A *+*?)?,= ?kT*>)??ZG 'FJ ?,-?* F1+*+J -?3>1A ,+->*?,G X?,?/H?1 S>* ,>=?1>J =+N2]+, -?3>1A >Y+-? ?->1?,G I?1>*H>P -?3>1A 0>P1>G g+*N2 H+/Y+-+A N<,1+, FJJ1? ->, <3*+N1+*2,2, ,>R? M,?)1> /?* =<==<3<,< 0MH] ?*>/F*ZG XF3< ;+1J1+*2,-+ -?3>1A -F3< J+L>)1?*>,-?G X>, 23*+N1+,,2, -?3>1A ->,f J+/021+*2,A ->,f HF*<,1+,,G.3*+Ni 1>* 0(@1(1(3(A S>* JM=(1(3( F*=+-+, J+1-2*)+J >@>, /+T21+, 3*+N)+A )(R+-?1? [QXgA .k]3B1i Z7>R? M,?)1> /?* =<==<] u*+,? S>* HM/1?/>N F1+R+JG X(P/+P2-+ Z,? J+-+* ~,?)1>A @FJ M,?)1>Z -?,>*G I>*J+@ H+/Y+ @?L>*?1>)i ZI(=(, J<*0<1+*2,2 S>* +;1qJ -(N(,R?H> ;+1>,-? 0?1>N=>*>*1?*A ?N>=@> -(N(,R?,>, J+,2=1+*2) *?*>*1?*GGGZ O*+,H2PR+H2i ZQF<=?H 1?<*H HT?R<1+=>F,H T*FR?]>?,= -?H T*?FRRF,H ?=;>y1H YF,= T*?= l0+1>=+>*?GGZ Q(*J@?H>i ZI(=(, -(N(,R?1?*>,>, J+/,+32,-+A 2;1qJf J+/021+* L+*-2*i ?N>=1>J=?, L+,+-2*1+*GGG Z K+/Y+ BBi Zn1+=F,<, H+L1+*2A L+*021+*2A 0?*@?J S>* =FT1<)H+1 Y?1H?Y? H>H=?)> F*=+/+ JF/+, -?L S>* /+T2==+A !<)&<*>]/?=E=? =FT1+,)2N=2*Gw n1+=F,E<, Q(*J@?H> "Y1+=<,E-<*A $,0>1>P]T?H> n1+=F F1-<3< 0>S>G b(L?)3*M?( 1+=>,R? *?H T<S1>R+E,2, O*+,H2PR+H2G &?H T<S1>R+A -?L1?=G "Y1+=<,E<, J+1?)? +1-232 ?H?*>, +-2i 8? nF1>=?>+ ? T?*> =?H ->J?HG K+/2, =FT1<)S>1>) @?L>*)?,>A F Z-?L /+T2=Z+ S>* 0MP +=)+J =?,?PP(1(,-? S<1<,H+ >-fA 5=>,+12 Y>1FPFY<, (=FT/+H2 >1? ++*

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