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4EPEGI 7XSRIEVVMGGLMWGI :IVWEGI ,SQI GSR YRE GSPPI^MSRI HM TEZMQIRXM I VMZIWXMQIRXM GSWv VEJ½REXM IHIGPIXXMGMTIVMPXMTSHMPEZSVE^MSRIIP´EXXIR^MSRIEP HIXXEKPMSHETSXIVIWWIVIYXMPM^^EXMWMEEPP´MRXIVRSGLI EPP´IWXIVRSHIPPEGEWE MRYRGSRXMRYYQHIGSVEXMZSHM JSVXIMQTEXXS 1E XYXXI PI GSPPI^MSRM WSRS HMWIKREXI WIGSRHS PS WXIWWS TVSKIXXS EFMXEXMZS VMGVIEVI P´MRGSRJSRHMFMPI MQTVSRXE :IVWEGI MR SKRM EQFMIRXI HSQIWXMGS :IVWEGI,SQIrHYRUYITYVEIWTVIWWMSRIHMUYIWXS WXMPIGEVEXXIVIWS½WXMGEXSHEPP´EXXMXYHMRIQSHIVRE




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4EPEGI 7XSRIIRLERGIW :IVWEGI ,SQI [MXL E WYTVIQIP] IGPIGXMGWX]PMWLGSPPIGXMSRSJ¾SSVERH[EPPGSZIVMRKWXLEXEVI WS½RIP]QEHIERHGEVIJYPP]HIXEMPIHXLEXXLI]GERFIYWIH FSXLMRWMHIERHSYXWMHIXLILSQIWSEWXSGVIEXIETS[IVJYP YRMRXIVVYTXIH¾S[ %PPXLIGSPPIGXMSRWEVIHIWMKRIH[MXLXLIWEQIEMQMRQMRHXS

4EPEGI7XSRIHEZEPSVE:IVWEGI,SQIGSRYREGSPIGGMzRHI TEZMQIRXSW ] VIZIWXMQMIRXSW XER VI½REHSW GSQS IGPqGXMGSW TSVIPXMTSHIXVEFENS]IPGYMHEHSHIPSWHIXEPPIWUYITYIHI YXMPM^EVWIXERXSIRMRXIVMSVIWGSQIIRI\XIVMSVIWTEVEGVIEV YRGSRXMRYSHIGSVEXMZSHIKVERMQTEGXS 8SHEW PEW GSPIGGMSRIW WI LER HMWIyEHS WMKYMIRHS IP QMWQS

VIGVIEXI XLI YRQMWXEOIEFPI:IVWEGI PSSO MR IEGL ERH IZIV] TEVX SJ XLI LSQI:IVWEGI ,SQI MW XLI TYVIWX I\TVIWWMSR SJ XLMW WX]PI [MXL MXW WSTLMWXMGEXIH GLEVEGXIV ERH EFWSPYXIP] GSRXIQTSVEV]SYXPSSO

TVS]IGXSHIGSVEXMZSVITVSHYGMVIPMRGSRJYRHMFPIWIPPS:IVWEGI IRXSHSWPSWEQFMIRXIWHSQqWXMGSW4SVIWXIQSXMZS:IVWEGI ,SQIIWPETYVEI\TVIWMzRHIIWXIIWXMPSGEVjGXIVWS½WXMGEHS GSRYREEGXMXYHQSHIVRE

4EPEGI 7XSRI ǙǣǤǣǠǢǴǚǧ  ǕǦǦǣǥǧǝǡǚǢǧ  :IVWEGI ,SQI

4EPEGI 7XSRI IRVMGLMX:IVWEGI ,SQI EZIG YRI GSPPIGXMSR HI WSPWIXHIVIZsXIQIRXWWMYRMUYIWTEVPIYVVEJ½RIQIRXIXTEV PIWSMRETTSVXqkGLEUYIHqXEMPUY´MPWTIYZIRXLEFMPPIVEYWWM FMIRP´MRXqVMIYVUYIP´I\XqVMIYVHIP´LEFMXEXMSRIRYRIWSVXIHI GSRXMRYYQHqGSVEXMJKEKIHIKVERHMQTEGX 8SYXIWPIWGSPPIGXMSRWVqTSRHIRXkYRQsQIHIWWIMRLEFMXEXMJ VIGVqIV PE QEVUYI  MRGSQTEVEFPI HI :IVWEGI EY WIMR HI GLEUYI IWTEGI:IVWEGI ,SQI IWX PE TPYW TYVI I\TVIWWMSR HIGIWX]PIUYMW´MRWGVMXkP´IRWIMKRIH´YRKIWXIIQTVIMRXHIPE QSHIVRMXqPETPYWVEJ½RqI

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DzǩǩǚǟǧǢǰǞǙǚǟǣǥ ǗǦǚǟǣǠǠǚǟǫǝǝǥǕǜǥǕǖǣǧǕǢǰǦǣǘǠǕǦǢǣǣǙǢǣǡǨǝǧǣǡǨǛǚ ǜǕǡǰǦǠǨ ǣǖǨǦǧǥǣǞǦǧǗǕ ǛǝǠDZǴ ǗǣǦǦǣǜǙǕǧDZ ǨǢǝǟǕǠDZǢǰǞ ǦǧǝǠDZ:IVWEGIǗǠdzǖǣǡǙǣǡǕǭǢǚǡǤǣǡǚǮǚǢǝǝǟǣǠǠǚǟǫǝǴ :IVWEGI ,SQI ǴǗǠǴǚǧǦǴ ǕǖǦǣǠdzǧǢǰǡ ǗǰǥǕǛǚǢǝǚǡ Dzǧǣǘǣ ǦǧǝǠǴ  ǢǣǦǴǮǚǘǣ  ǝǜǰǦǟǕǢǢǰǞ  ǪǕǥǕǟǧǚǥ  ǦǣǗǥǚǡǚǢǢǣǘǣ ǢǕǤǥǕǗǠǚǢǝǴ

4EPEGI7XSRIḋᓣ๲ࡴ:IVWEGI,SQIⱘ㕢㾖݊催䲙⡍⅞ ҹঞ⊼ᛣ㒚㡖ࡴᎹⱘഄⷪ੠๭ⷪৃҹ㺙೼᠓ሟⱘ䞠䴶 ੠໪䴶㒭ќϔ⾡䖲㓁㺙佄ⱘさߎᬜᵰ ᠔᳝ḋᓣⱘ䆒䅵‫݋‬᳝ϔḋⱘᏗ㕂乍ⳂՓ↣䯈᠓ᄤ䆒 䅵‫݋‬᳝:IVWEGI⣀⡍ⱘ亢Ḑ಴ℸ :IVWEGI,SQI ԰Ў䖭 ⾡亢Ḑⱘ㸼⦄Ӭ䲙ঞ⦄ҷⱘ⡍ᕕ

4EPEGI 7XSRI VIMGLIVX:IVWEGI ,SQI QMX IMRIV &SHIR YRH ;ERHTPEXXIROSPPIOXMSRERHIVIR&IEVFIMXYRKYRHWSVKJmPXMKIR (IXEMPW HIVEVX VEJ½RMIVX YRH IOPIOXMWGL WMRH HEWW WMI WS[SLP MR -RRIR EPW EYGL%YŠIRFIVIMGLIR )MRWEX^ ½RHIR MR IMRIQ L}GLWXIMRHVYGOWIV[IGOIRHIQHIOSVEXMZIR'SRXMRYYQ 9RH HSGL WMRH EPPI /SPPIOXMSR REGL IMRIQ KPIMGLIR ;SLROSR^ITXIRX[MGOIPX(EW)MRFVMRKIRHIVYRZIVOIRRFEVIR :IVWEGI1IVOQEPIMREPPIR;SLRFIVIMGLIR:IVWEGI,SQIMWX HIVVIMRI%YWHVYGOHMIWIW7XMPWYRHHIWLSGLJIMRIR'LEVEOXIVW IMRIVQSHIVRIR)MRWXIPPYRK






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0IWQEXqVMEY\4EPEGI7XSRITIYZIRXsXVIYXMPMWqWIRXSYXIPMFIVXq EYWIMRHIP´IWTEGIEVGLMXIGXYVEPIRGVqERXYRIJSVXILEVQSRMI IRXVIPIWHMJJqVIRXIWTMrGIW(IPEWEPPIHIFEMRWkPEGYMWMRIHY WqNSYVEY\GLEQFVIWIXEYNEVHMRMPWTIYZIRXsXVITSWqWEYWWM FMIRGSQQIVIZsXIQIRXHIWSPUYIGSQQIVIZsXIQIRXQYVEP 0IWGEVEGXqVMWXMUYIWXIGLRMUYIWHYTPYWLEYXRMZIEYTIVQIXXIRX qKEPIQIRXPIYVYXMPMWEXMSRHERWPIWIWTEGIWPIWTPYWWSPPMGMXqW

(MI 1EXIVMEPMIR 4EPEGI 7XSRI PEWWIR WMGL EVGLMXIOXSRMWGL MR IMRIQ  +VEH4ERSVEQE IMRWIX^IR YRH ZIVFMRHIR HEFIM HMI ZIVWGLMIHIRIR ;SLRFIVIMGLI MR WXEVOIQ )MROPERK :SQ &EHI^MQQIV FMW ^YV /‚GLI ZSQ 0MZMRK &IVIMGL FMW ^YV 2EGLX^SRI ZSQ ;SLR^MQQIV FMW ^YQ +EVXIR O}RRIR WMI WS[SLP&}HIREPWEYGL;mRHIEYWOPIMHIR(EROMLVIVXIGLRMWGLIR 7TMX^IRIMKIRWGLEJXIR½RHIRWMIWIPFWXMRWXEVOFIERWTVYGLXIR &IVIMGLIR)MRWEX^

ǡǕǧǚǥǝǕǠǰ4EPEGI7XSRI ǖǰǠǝ ǥǕǜǥǕǖǣǧǕǢǰ ǙǠǴ ǨǦǤǚǭǢǣǘǣ ǨǙǣǗǠǚǧǗǣǥǚǢǝǴ  ǡǢǣǘǣǬǝǦǠǚǢǢǰǪ  ǧǥǚǖǣǗǕǢǝǞ  ǤǥǣǚǟǧǕ  ǝ ǙǠǴ ǣǖǚǦǤǚǬǚǢǝǴ ǡǕǟǦǝǡǕǠDZǢǣǞ ǤǥǕǟǧǝǬǢǣǦǧǝ ǝ ǘǝǖǟǣǦǧǝ Ǥǥǝ  ǣǖǠǝǫǣǗǟǚ  ǤǣǠǣǗ  Ǖ  ǧǕǟǛǚ  ǗǢǚǭǢǚǘǣ  ǝ  ǗǢǨǧǥǚǢǢǚǘǣ ǤǥǣǦǧǥǕǢǦǧǗǕǙǣǡǕ  ǭǝǥǣǟǝǞǟǥǨǘǤǥǝǡǚǢǚǢǝǴ

4EPEGI7XSRIⷪᵓⱘॳ᭭ⱘ䗝প䩜ᇍѢ⒵䎇↣⾡乍Ⳃⱘ䳔∖ ৃҹᕜᮍ֓ഄ䫎ᬒ៪䭊೼᠓ሟⱘ‫ݙ‬䴶੠໪䴶

9RPMQMXIHTSXIRXMEPJSVYWI 8LI 4EPEGI 7XSRI QEXIVMEPW GER FI YWIH MR ER] EVGLMXIGXYVEP GSRXI\XGVIEXMRKWXVSRKWX]PMWXMGPMROWFIX[IIRVSSQW*VSQXLI FEXLVSSQXSXLIOMXGLIRJVSQXLIPMZMRKEVIEXSXLIFIHVSSQW JVSQXLIPSYRKIXSXLIKEVHIRYWIHSRFSXL¾SSVWERH[EPPW 8LIQEXIVMEP´WXSTKVEHIXIGLRMGEPJIEXYVIWEPPS[MXWYWIIZIRMR GSRXI\XW[LIVILMKLPIZIPWSJVIWMWXERGIEVIVIUYMVIH

0SW QEXIVMEPIW 4EPEGI 7XSRI IWXjR TIRWEHSW TEVE VIWTSRHIV I½GE^QIRXIEPEWHMJIVIRXIWRIGIWMHEHIWHIPTVS]IGXSTIVQMXMIRHS GSPSGEVTEZMQIRXSW]VIZIWXMQMIRXSWIRPSWIWTEGMSWMRXIVMSVIW] I\XIVMSVIWHIPEGEWEHIQERIVEJjGMP]TVjGXMGE 9REETPMGEGMzRMRXIKVEP 0SWQEXIVMEPIW4EPEGI7XSRITYIHIRIQTPIEVWIEKVEHSW HIRXVSHIPIWTEGMSEVUYMXIGXzRMGSGVIERHSYREJYIVXIWMRXSRuE IRXVIPSWHMWXMRXSWEQFMIRXIW%FEVGERHSHIPFEySEPEGSGMREHIP WEPzREPSWHSVQMXSVMSWHIPGSQIHSVEPNEVHuRTYIHIRGSPSGEVWI GSQSTEZMQIRXSSGSQSVIZIWXMQMIRXS7YWGEVEGXIVuWXMGEWXqGRMGEW WSRHIQj\MQSRMZIP]TIVQMXIRXEQFMqRPEGSPSGEGMzRIRPYKEVIW WSQIXMHSWEXIRWMSRIW

ǡǕǧǚǥǝǕǠǰ4EPEGI7XSRIǢǕǪǣǙǴǧǭǝǥǣǬǕǞǭǚǚǤǥǝǡǚǢǚǢǝǚǗ ǣǧǙǚǠǟǚ ǕǥǪǝǧǚǟǧǨǥǢǣǘǣ ǤǥǣǦǧǥǕǢǦǧǗǕ ǦǣǜǙǕǗǕǴ ǦǝǠDZǢǨdz ǘǕǥǡǣǢǝǬǢǨdz  ǦǗǴǜDZ  ǡǚǛǙǨ  ǤǣǡǚǮǚǢǝǴǡǝ  ǝ Ǫ  ǡǣǛǢǣ ǝǦǤǣǠDZǜǣǗǕǧDZ ǟǕǟ ǙǠǴ ǤǣǟǥǰǧǝǴ ǤǣǠǕ ǧǕǟ ǝ ǙǠǴ ǣǖǠǝǫǣǗǟǝ ǦǧǚǢǗǕǢǢǣǞǝǟǨǪǢǝǦǧǣǠǣǗǣǞǝǦǤǕǠDZǢǝǘǣǦǧǝǢǣǞǝǦǕǙǕ ǖǠǕǘǣǙǕǥǴǦǗǣǝǡǗǰǦǣǬǕǞǭǝǡǧǚǪǢǝǬǚǦǟǝǡǪǕǥǕǟǧǚǥǝǦǧǝǟǕǡ DzǧǝǡǕǧǚǥǝǕǠǰǡǣǘǨǧǖǰǧDZǝǦǤǣǠDZǜǣǗǕǢǰǧǕǟǛǚǙǠǴǣǧǙǚǠǟǝ ǤǣǗǚǥǪǢǣǦǧǚǞ  ǤǣǙǗǚǥǛǚǢǢǰǪ ǗǣǜǙǚǞǦǧǗǝdz ǜǢǕǬǝǧǚǠDZǢǰǪ ǢǕǘǥǨǜǣǟ



ܼᮍԡՓ⫼ 4EPEGI7XSRIⷪᵓⱘॳ᭭ৃҹՓ⫼೼ᓎㄥぎ䯈ⱘᑺⱘ㣗ೈ ‫ݙ‬ҹঞ㒭ќϡৠ᠓䯈ⱘ⦃๗ϔ⾡ण䇗ⱘ䆒䅵Ң⍈ᅸࠄॼ᠓ Ң/LYLQJऎ ॼ᠓੠ᅶख़ ࠄ䍋ሙᅸҢᅶख़ࠄ㢅ು䖭ѯⷪ ᵓৃҹ԰Ўഄⷪ៪๭ⷪ⬅Ѣ݊催䋼䞣ⱘᡔᴃ⡍⚍ৃҹᡞᅗ Ӏ⫼೼⍌㱔⿟ᑺᕜ໻ⱘ⦃๗Ϟ

9237'69430373463')773463(988-:3 +)2)6%-0+6)7436')00%2%834%0%') -QEXIVMEPM4EPEGIWSRSMPJVYXXSHMEGGYVEXIVMGIVGLIHEPPEWIPI^MSRIHIPPIQEXIVMITVMQIEPPETVIWWEXYVEHEPPEGSXXYVEEPPE GSRGPYWMZEVIXXM½GEHIPPEPEWXVE-P+VIW4SVGIPPEREXS4EPEGIrQEXIVMEEPPSWXEXSTYVSHEPPIGEVEXXIVMWXMGLISQSKIRIIPYRKS XYXXSMPWYSWTIWWSVI9RQEXIVMEPIGSPSVEXSMRQEWWEVIWMWXIRXIJSVXIIGEVEXXIVM^^EXSHEPEWXVIVIXXM½GEXIQSHYPEVM -QIXSHMGSRGYM+EVHIRME3VGLMHIEVIEPM^^EMTVSTVMTVSHSXXMWSRSXIGRSPSKMGEQIRXIEPP´EZERKYEVHMEWSWXIRYXMHEYR IRKMRIIVMRKHMYPXMQEKIRIVE^MSRI8VEUYIWXIXIGRSPSKMIQIVMXETEVXMGSPEVIEXXIR^MSRI,M6IW4VMRXPERYSZEXIGRSPSKME HMWXEQTEEHEPXEVMWSPY^MSRI GSRUYEPMXkJSXSKVE½GE HIPPETMIXVEREXYVEPI

%1)8-'90397463(9'8-32463')77+)2)6%8)7 4%0%')436')0%-27832);%6) 8LI4EPEGIQEXIVMEPWEVIXLISYXGSQISJTEMRWXEOMRKVIWIEVGL JVSQXLIWIPIGXMSRSJXLIVE[QEXIVMEPWXSTVIWWMRKJVSQ½VMRK XSXLI½REPIHKIKVMRHMRKSJXLIWPEF 4EPEGI 4SVGIPEMR 7XSRI[EVI MW YREHYPXIVEXIH QEXXIV [MXL GLEVEGXIVMWXMGWXLEXVIQEMRXLIWEQIVMKLXXLVSYKLMXWXLMGORIWW %QEXIVMEP[MXLXLVSYKLFSH]GSPSYVLEVH[IEVMRKWXVSRK ERHWYTTPMIHMRQSHYPEVVIGXM½IHWPEFW 8LI QIXLSHW F] [LMGL +EVHIRME 3VGLMHIE TVSHYGIW MXW TVSHYGXWEVIEXXLIXIGLRSPSKMGEPWXEXISJXLIEVXFEGOIHYTF] PEXIWXKIRIVEXMSRIRKMRIIVMRK/I]EQSRKWXXLIWIXIGLRSPSKMIW MW,M6IW4VMRXXLIRI[LMKLVIWSPYXMSRXIGLRSPSK]JSVTVMRXMRK REXYVEPWXSRI½RMWLIW[MXLTLSXSKVETLMGUYEPMX]

)-27/694)0,%*8)6463(9/8-327463>)77 )6>)9+8(%7*)-278)-2>)9+4%0%') (MI 1EXIVMEPMIR ZSR 4EPEGI WMRH HEW )VKIFRMW WSVKJmPXMKIV *SVWGLYRKIR:SRHIV;ELPHIV6SLWXSJJIFMW^YV4VIWWYRK ZSQ&VERHFMW^YQEFWGLPMIŠIRHIR7GLPMJJHIV4PEXXIROERXIR (EW *IMRWXIMR^IYK 4EPEGI MWX 1EXIVMI TYV QMX LSQSKIRIR )MKIRWGLEJXIREYJHIVKIWEQXIR(MGOI )MRMRHIV1EWWIKIJmVFXIW1EXIVMEPFIWXmRHMKWXEVOYRHZSR QSHYPEVIRWGLEVJOERXMKKIWGLPMJJIRIR4PEXXIRKIOIRR^IMGLRIX (MI1IXLSHIRQMXHIRIR+EVHIRME3VGLMHIEMLVI4VSHYOXI JIV XMKX WMRH XIGLRSPSKMWGL LSGLQSHIVR YRH [IVHIR ZSR IMRIQ )RKMRIIVMRK HIV PIX^XIR +IRIVEXMSR YRXIVWX‚X^X &IWSRHIVIW%YKIRQIVOZIVHMIRXHEVYRXIV,M6IW4VMRXHMI RIYI2EXYVWXIMRHVYGO8IGLRSPSKMIQMXLSLIV%Y¾}WYRK QMX JSXSKVE½WGLIV5YEPMXmX 

927'69490)9<463')7797()463(9'8-32+f2Ç6) 0)+6Ç7'f6%1)4%0%') 0IWQEXqVMEY\4EPEGIWSRXPIVqWYPXEXHIVIGLIVGLIWETTVSJSRHMIW HIPEWqPIGXMSRHIWQEXMrVIWTVIQMrVIWEYTVIWWEKIHIPEGYMWWSR kPEVIGXM½GEXMSRHIWGEVVIEY\0IKVrWGqVEQI4EPEGIIWXYRI QEXMrVILSQSKrRIkP´qXEXTYVWIWGEVEGXqVMWXMUYIWW´qXIRHERX kXSYXIP´qTEMWWIYV9RQEXqVMEYGSPSVqHERWPEQEWWIVqWMWXERX VSFYWXIIXTVSHYMXIRGEVVIEY\VIGXM½qWIXQSHYPEMVIW0IW QqXLSHIWkXVEZIVWPIWUYIPPIW+EVHIRME3VGLMHIEVqEPMWIWIW TVSHYMXWWSRXkP´EZERXKEVHIIXFqRq½GMIRXHIWGSRREMWWERGIW XIGLRSPSKMUYIWHIPEHIVRMrVIKqRqVEXMSR4EVQMPIWXIGLRSPSKMIW QMWIWIR®YZVIMPGSRZMIRXHIQIRXMSRRIVPE,M6IW4VMRX PERSYZIPPIXIGLRSPSKMIH´MQTVIWWMSRkLEYXIVqWSPYXMSRHIPE TMIVVIREXYVIPPI GSQTEVEFPIkPEUYEPMXqTLSXSKVETLMUYI 

921-29'-373463')73463(9'8-:3'6)%)0+6)7 436')0Å2-'34%0%') 0SW QEXIVMEPIW 4EPEGI WSR IP JVYXS HI MRZIWXMKEGMSRIW I\LEYWXMZEW HIWHI PE WIPIGGMzR HI PE QEXIVME TVMQE LEWXE IP TVIRWEHS ] HIWHI PE GSGGMzR LEWXE PE VIGXM½GEGMzR ½REP HIPETMI^E)P+VIW4SVGIPjRMGS4EPEGIIWQEXIVMEIRIWXEHS TYVS GSR GEVEGXIVuWXMGEW LSQSKqRIEW IR XSHS WY KVSWSV 9RQEXIVMEPGSPSVIEHSIRXSHEWYQEWEVIWMWXIRXIJYIVXI] GEVEGXIVM^EHSTSVTMI^EWQSHYPEVIWVIGXM½GEHEW0SWQqXSHSW GSRPSWUYI+EVHIRME3VGLMHIEVIEPM^EWYWTVSHYGXSWIWXjR XIGRSPzKMGEQIRXIEPEZERKYEVHMEWSWXIRMHSWTSVYREMRKIRMIVuE HIPXMQEKIRIVEGMzR)RXVIIWXEWXIGRSPSKuEWGEFIHIWXEGEVPE ,M6IW4VMRXPERYIZEXIGRSPSKuEHIMQTVIWMzRHIEPXEVIWSPYGMzR

GSRGEPMHEHJSXSKVj½GE HIPETMIHVEREXYVEP

ǘǠǕǜǨǥǣǗǕǢǢǰǞǟǚǥǕǡǣǘǥǕǢǝǧ4%0%')² ǥǚǜǨǠDZǧǕǧǟǥǣǤǣǧǠǝǗǣǘǣǤǥǣǝǜǗǣǙǦǧǗǚǢǢǣǘǣ ǤǥǣǫǚǦǦǕ ǡǕǧǚǥǝǕǠǰ4EPEGI²DzǧǣǥǚǜǨǠDZǧǕǧǧǮǕǧǚǠDZǢǰǪǤǣǝǦǟǣǗǣǧǣǧǖǣǥǕ ǦǰǥDZǴǙǣǤǥǚǦǦǣǗǕǢǝǴǣǧǣǖǛǝǘǕǙǣǜǕǟǠdzǬǝǧǚǠDZǢǣǞǥǚǟǧǝǩǝǟǕǫǝǝ ǤǠǝǧǟǝ ǟǚǥǕǡǣǘǥǕǢǝǧ 4EPEGI ² Dzǧǣ  ǡǕǧǚǥǝǕǠ Ǘ ǬǝǦǧǣǡ ǗǝǙǚ ǣǖǠǕǙǕdzǮǝǞǣǙǢǣǥǣǙǢǰǡǝǪǕǥǕǟǧǚǥǝǦǧǝǟǕǡǝǤǣǗǦǚǞǦǗǣǚǞǧǣǠǮǝǢǚ ǥǚǟǧǝǩǝǫǝǥǣǗǕǢǢǕǴǤǠǝǧǟǕǝǜǘǣǧǣǗǠǚǢǢǕǴǝǜǣǟǥǕǭǚǢǢǣǘǣǗǡǕǦǦǚ ǡǕǧǚǥǝǕǠǕǣǧǠǝǬǕǚǧǦǴǨǦǧǣǞǬǝǗǣǦǧDZdzǤǥǣǬǢǣǦǧDZdzǝǤǥǚǙǢǕǜǢǕǬǚǢǕ ǙǠǴ ǡǣǙǨǠDZǢǣǞ ǨǟǠǕǙǟǝǗ ǡǚǧǣǙǕǪ ǥǚǕǠǝǜǕǫǝǝ ǦǗǣǝǪ ǤǥǣǙǨǟǧǣǗ +EVHIRME3VGLMHIEǝǦǤǣǠDZǜǨǚǧǤǚǥǚǙǣǗǰǚǧǚǪǢǣǠǣǘǝǝǗǦǣǬǚǧǕǢǝǝ ǦǢǣǗǚǞǭǝǡǝǙǣǦǧǝǛǚǢǝǴǡǝǗǣǖǠǕǦǧǝǝǢǛǝǢǝǥǝǢǘǕ ǦǥǚǙǝDzǧǝǪǧǚǪǢǣǠǣǘǝǞǣǦǣǖǣǘǣǗǢǝǡǕǢǝǴǜǕǦǠǨǛǝǗǕǚǧ+,5(635,17 ǢǣǗǕǴǧǚǪǢǣǠǣǘǝǴǤǚǬǕǧǝǗǰǦǣǟǣǘǣǥǕǜǥǚǭǚǢǝǴ ǩǣǧǣǘǥǕǩǝǬǚǦǟǣǘǣ ǟǕǬǚǦǧǗǕ ǝǡǝǧǝǥǨdzǮǚǞǥǝǦǨǢǣǟǢǕǧǨǥǕǠDZǢǣǘǣǟǕǡǢǴ

ϔ⾡㊒㒚㒚㟈ⱘ⫳ѻ䖛⿟ѻ⫳4%0%')+6)7⫋ⷪ 4EPEGIⷪᵓⱘᴤ᭭԰Ў⏅ܹ㒚㟈ⷨおⱘৢᵰ Ң䗝᭭ࠄ῵य़ 䖛⿟Ң⚻ࠊࠄ䴶ᵓⱘ᳔ৢ䇗ᭈ䖛⿟4EPEGI+VIW⫋ⷪᰃ㒃ॳ ᭭ᭈϾ८䴶‫݋‬᳝ഛࣔⱘ⡍ᕕ ⷪᵓॳ᭭ⱘᘏԧ㹿ᶧ㡆ᴤ᭭ᕜ㒧ᅲ催ᔎᑺҹঞ⬅Ѣ䇗ᭈ ⱘ῵ഫ㒘៤ⱘ +EVHIRME3VGLMHIE݀ৌ⫳ѻ݊ѻકⱘᡔᴃ䛑ᕜ‫ܜ‬䖯䛑ሲѢ᳔ ᮄⱘᎹ⿟ᡔᴃ 䖭ѯᡔᴃЁ+L5HV3ULQWᕜؐᕫ⍜䌍㗙⊼ᛣ໽✊⷇༈ⱘߚ䕼 ⥛催 ᏺᨘᕅ䋼䞣 ⱘᠧॄᡔᴃ




4%0%')

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7832)

7832)

0)(9)794)6*-'-(-4%0%')7832)

0´%086%794)6*-'-)

0EGSPPI^MSRI4EPEGI7XSRITVIWIRXEHYIZEVMERXMGSRHMJJIVIRXM½RMXYVIHIPPEWYTIV½GMI  2EXYVEPI YRE WYTIV½GMI WIRWMFMPQIRXI WXVYXXYVEXE GLI VMGLMEQE PE XMTMGE VYKSWMXk HIPPE TMIXVE REXYVEPI 5YIWXE ½RMXYVEWMGEVEXXIVM^^ETIVP´EPXSPMZIPPSHMVIWMWXIR^EEPPSWGMZSPEQIRXS 6 UYMRHMTEVXMGSPEVQIRXIEHEXXEERGLI TIVPETSWEMRIWXIVRS  0ETTEXE MR 'VIWXE GSR UYIWXE VEJ½REXE PEZSVE^MSRI HM ½RMXYVE SKRM TMEWXVIPPE ZMIRI PIZMKEXE MR QSHS XEPQIRXI PIKKIVSGLIPIQSPIXSGGERSWSPSPEGMQEHIPPEWXVYXXYVEWYTIV½GMEPIPEWGMERHSMREPXIVEXSMPVIWXS-VM¾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

(-)>;)-3&)6*0c',)2:324%0%')7832) (MI/SPPIOXMSR4EPEGI7XSRITVmWIRXMIVX^[IM:EVMERXIRQMX YRXIVWGLMIHPMGLIR3FIV J PmGLIR  2EXYV )MRI J‚LPFEV WXVYOXYVMIVXI 3FIV J PmGLI HMI ER HMI X]TMWGLI6EYLIMXHIV2EXYVWXIMRIIVMRRIVX(MIWI3FIVJ PmGLI ^IMGLRIXWMGLHYVGLMLVIRKILSFIRIR6YXWGLLIQQYRKW[IVX EYW 6   YRH MWX HEHYVGL EYGL J ‚V HMI :IV PIKYRK MR %YŠIRFIVIMGLIRFIWSRHIVWKIIMKRIX   0 I M G L X  E Q T S P M I V X   & I M  H M I W I V  V E J J M R M I V X I R 3FIVJ PmGLIRFIEVFIMXYRK[MVHNIHI*PMIWIWSPIMGLXERTSPMIVX HEWWHMI7GLPIMJWGLIMFIRHEFIMHMI3FIV J PmGLIRWXVYOXYVRYV ER HIV 7TMX^I FIV‚LVIR YRH HIR 6IWX YRZIVmRHIVX PEWWIR (MIHYVGLHMIOPIMRIRTSPMIVXIR>SRIRIRXWXILIRHIR6IJ PI\I WGLEJJIRIMRIERKIRILQ^EVXIYRHIPIKERXISTXMWGLI;MVOYRK

037(37%'%&%(37()4%0%')7832) 0EGSPIGGMzR4EPEGI7XSRITVIWIRXEHSWEGEFEHSWHMJIVIRXIW HIWYTIVJMGMI 2EXYVEPYREWYTIVJMGMIZMWMFPIQIRXIIWXVYGXYVEHEUYIVIGYIVHE EPEXuTMGEVYKSWMHEHHIPETMIHVEREXYVEP)WXIEGEFEHSWI GEVEGXIVM^ETSVWIVEPXEQIRXIERXMHIWPM^ERXI RMZIP6 TSV PSGYEPXEQFMqRIWXjIWTIGMEPQIRXIMRHMGEHSTEVEI\XIVMSVIW 4YPMHSIR±'VIWXE²GSRIWXIVIJMREHSXVEXEQMIRXSHIEGEFEHS GEHEFEPHSWEWITYPIHIQERIVEXERWYEZIUYIPEWQYIPEW XSGERETIREWPE±GMQE²HIPEIWXVYGXYVEWYTIVJMGMEPHINERHSIP VIWXSMREPXIVEHS0SWVIJPINSWTVSHYGMHSWTSVPEWTIUYIyEW^SREW TYPMHEWGVIERYREKVEHEFPIIJIGXSIWXqXMGSHIPMGEHS]IPIKERXI

ǙǗǚǤǣǗǚǥǪǢǣǦǧǝ4%0%')7832) ǟǣǠǠǚǟǫǝǴ4EPEGI7XSRI ǤǥǚǙǦǧǕǗǠǚǢǕ Ǘ ǙǗǨǪ ǗǕǥǝǕǢǧǕǪ Ǧ ǥǕǜǠǝǬǢǣǞǣǧǙǚǠǟǣǞǤǣǗǚǥǪǢǣǦǧǝ ǢǕǧǨǥǕǠDZǢǕǴǜǢǕǬǝǧǚǠDZǢǣǦǧǥǨǟǧǨǥǝǥǣǗǕǢǢǕǴǤǣǗǚǥǪǢǣǦǧDZ ǦǗǣǚǞǭǚǥǣǪǣǗǕǧǣǦǧDZdzǢǕǤǣǡǝǢǕdzǮǕǴǢǕǧǨǥǕǠDZǢǰǞǟǕǡǚǢDZ ǧǕǟǕǴǣǧǙǚǠǟǕǣǧǠǝǬǕǚǧǦǴǗǰǦǣǟǝǡǨǥǣǗǢǚǡǦǣǤǥǣǧǝǗǠǚǢǝǴǟ ǦǟǣǠDZǛǚǢǝdz 5 ǗǦǗǴǜǝǦǬǚǡǤǠǝǧǟǕǣǦǣǖǚǢǢǣǤǣǙǪǣǙǝǧ ǙǠǴǨǟǠǕǙǟǝǦǢǕǥǨǛǝǜǙǕǢǝǞ ǤǣǠǨǤǣǠǝǥǣǗǕǢǢǕǴ Dzǧǣ ǝǜǰǦǟǕǢǢǰǞ ǗǝǙ ǣǧǙǚǠǟǝ Ǥǥǝ ǟǣǧǣǥǣǡǟǕǛǙǕǴǤǠǝǧǟǕǤǣǠǝǥǨǚǧǦǴǧǕǟǬǧǣǭǠǝǩǣǗǕǠDZǢǰǞ ǟǥǨǘ ǚǙǗǕ ǟǕǦǕǚǧǦǴ ǚǚ ǤǣǗǚǥǪǢǣǦǧǝ ǦǠǚǘǟǕ ǦǧǕǬǝǗǕǴ ǠǝǭDZ ǗǰǦǧǨǤǕdzǮǝǚ ǢǚǥǣǗǢǣǦǧǝ ǗǚǥǪǢǚǘǣ ǦǠǣǴ ǝ ǣǦǧǕǗǠǴǴ ǗǦǚ ǣǦǧǕǠDZǢǣǚ  Ǘ  ǢǚǝǜǡǚǢǢǣǡ  ǗǝǙǚ  ǖ Ǡǝǟǝ  ǤǥǣǝǜǗǣǙǝǡǰǚ ǢǚǖǣǠDZǭǝǡǝǣǧǤǣǠǝǥǣǗǕǢǢǰǡǝǨǬǕǦǧǟǕǡǝǦǣǜǙǕdzǧǤǥǝǴǧǢǰǞ ǗǝǜǨǕǠDZǢǰǞDzǩǩǚǟǧǝǦǤǣǠǢǚǢǢǰǞǢǚǛǢǣǦǧǝǝDzǠǚǘǕǢǧǢǣǦǧǝ

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