Page 1


""#$%&''#(#)*+,-.#""

B

31<?@=<A>

G

?3CAD

!"#$%&#'(#)&#)*+",-"-./-'0!"#$%&'()*+%&,-.,/'0%12 1%"#//%2' 3'*("%4*5,6*5.*%&2 3&%/%2')4#'#"-5 7+*8,50-,%9*,+%:2 !"+&.//%2')!#"%+&0$(%/-

*%'/+)E.#F+$)D+/%+$ $#)<'(#8"-')-)*+",-"-./-'0-

V

<E<*<A?<HAD

?#9./+)S'%F#"*%.&-&)$#)5U.#8-),+")#5)1#,+"(#

;.*<=,5'*%&>++*-%12 1%$#6+)7)1%-8"-9-/%2' 750-$#%&,-?),-0.%@2 1%"#//%2')*+9#"/%-5 A,#.B5%&*.,C*-%&2 :+(+8"-;0A,#.B5%D,++'E'-%;2 ;.*<=,5'*%&>++*-%12 7-F='6"%D"-<,-,)F,5G,

NO 3E?=3H<D?A

NV ?3CAD

TT C<=A1AD

TO 3E?=3H<D?A

TG <E<*<A?<HAD

OO A*?SA><1A1

OG !3=:<>3D

[N A*?SA><1A1

1-F%&)4-55-8I#"J)K>-)A"-./-'0#$).'-)&#)5-$)"#8%+'#$)9L$ %9,+"(-'(#$)&#5),-0$M

*+",9-55#/+J)E-/#).'@,+"(.'%&-&),-"-)#5)1#$-""+55+

7-F='6"#%<*-#"5,+*#%0*%*5.-*6'#.,0"# :-"7-,)F,5',2F+ <9,"#$%2' HI<-*5.,%7I$-'F,%9.0,2 =#,"#$#'(-'(#)>#8-5 !"#$%&'()*+%&,-.,/'0%12

A5%"+)P2"Q.#RJ)A,+"(#$ &#)5-)S'%F#"$%&-&)*-(25%/-)&# ?#9./+)-)>-)A"-./-'0-

C-"(-)>-8+$J)KW-7)9./I+ -,-8+)&#)%'/#'&%+),#"+)'+ I-7)'%'8.'-)/+'$(".//%2' &#)$+5./%2'M

J#.,%*#%)5,%<)/+'F,F'B5 0*%<-"<'*0,0%0*%D"-<,-,)F,5G, 7E"%KHHHL%@M%N%O%@"6'*I/-*%0*%PQRP STU'(('5#%VWQ%O%X*I)F"

>##")#$)!"%9#"+J)A,+7-'&+ -)5+$)E%6+$)&#$&#)5-)=-0R

35)1#$,#8.#)&#5)E.#F+ A#"+,.#"(+)<'(#"'-/%+'-5

X*+$Y"5"#Z%[\]^V\_%W`RV`\ W`RV`]%a%b,cZ%[\]^V\_%W`RV`V ddd2F"-<,-,)F,5',2F+ '5Y"eF"-<,-,)F,5',2F+

U+"8#)!%'(+X)!"#9%+)E-/%+'-5)&# W%$(+"%-J)K*I%5#)#$).'),-0$)Q.# F-5+"-)$.)I%$(+"%-X),#"+)(-9Y%Z' 5-)&#$/+'+/#M

*+'(-9%'-/%2')A9Y%#'(-5J !"+Y5#9-)&#)?+&+$

!


""#)*+,-.#""

[B

<E<*<A?<HAD

[G

C<=A1AD

[b

<E<*<A?<HAD

BO

BG

?3CAD

Bb

A=AS*AE]A 3E)3>)CSE1@

_N

3C!=3E1<C<3E?@D

_O

_G

<E<*<A?<HAD

_V

C@C3E?@D

GB

C<D*3>`E3@D

G_

C@C3E?@D

_B

GO

/

!-"Q.#)<'&.$("%-5)7 ?#/'+528%/+)D.9@/I+)E.#F-$)39,"#$-$

39,"#'&#&+"#$ C-,./I#$J 1#)>-)A"-./-'0-)D%5%/+')H-55#7

3C!=3E1<C<3E?@D a.'7)?"-&%/%+'#$J E-(."-59#'(#)?0,%/+

C@C3E?@D >-'R-9%#'(+)&# *+",9-55#/+

U+$Z)>.%$)H#5-$/+J >-)A/(%F%&-& 39,"#'&#&+"-

A8"+$-(J)?#/'+5+80<''+F-&+"-),-"39,"#$-$)&#5)C.'&+

?#9./+)S'%F#"*%.&-& ,-"(%/%,2)#'):#"%<'(#"'-/%+'-5)3A<3)T\NT

*-,%(L')!-$(#'#J ?"-&%/%2')<(-5%-'#')>-)A"-./-'0-

?".9)W-'&/7/5#$J A,+"(-'&+)-)5<'/5.$%2')D+/%-5

3'#5-X)C+9#'(+)*5-F#

!"#9%-/%2')U.#8+$ 1#,+"(%F+$)?#9./+ S'%F#"*%.&-&)T\NT

<E<*<A?<HAD

3'#5-)T\NTJ C+9#'(+)*5-F#)7)N\)-6+$

A=AS*AE]A)3E 3>)CSE1@ H-5RX)*-"5+$)H-5#'R.#5-J <5.$("-&+")&#)3^,+"(-/%2'

GT

C<D*3>`E3@D


""#.+,%01,&2#""

!"#!$%&'%()*'%+,J#.*%PQRP%#*-f%-*F"-0,0"%F"I"%)5 ,E"%='#.B-'F"%<,-,%5)*#.-,%F"-<"-,F'B52 3*#0*%+,%,-.'F)+,F'B5%0*+%#*F."-%<g/+'F" C%<-'6,0"%?)*%<-"I"6*I"#L%C%,%<,-.'0*%+,%'5F+)#'B5%0*%+"#%0'Y*-*5.*#%,F."-*# 0*%+,%#"F'*0,0%*5%+,%'I<+*I*5.,F'B5%0* '5'F',.'6,#% 0*% 0*#,--"++"% -*('"5,+L% *5 *#.*% <*-'"0"% =*I"#% <"0'0"% '5'F',,6,5F*#% *5% .*I,#% .,5% .-,#F*50*5.*# F"I"% +,% I)+.'F)+.)-,+'0,0L% *+% I*0'" ,I/'*5.*%C%+,%0*#F*5.-,+'h,F'B5%0*%+, -*('B52 9)*("%0*%)5,%#*-'*%0*%-*)5'"5*#L 0*%'5#.,5F',#%0*%*5F)*5.-"L%0'f+"("%C ,F*-F,I'*5."% F"5% ,)."-'0,0*#L <,-+,I*5.,-'"#L% *I<-*#,-'"#L% ,F,0$^ I'F"#% C% -*<-*#*5.,5.*#% 0*% 0'6*-#,# '5#.'.)F'"5*#%0*%9,%7-,)F,5G,L%=*I"# #*5.,0"% +,#% /,#*#% 0*% 0"#% 5)*6,# Y)50,F'"5*#Z%7-,)F,5G,%K*-0*%C%7'.)$i *% 'I<)+#,0"% *+% 5,F'I'*5."% 0*% +, D"-<"-,F'B5% <,-,% *+% 3*#,--"++" :-"0)F.'6"%0*%+,%:-"6'5F',%0*%&,++*F"L D"-<I,++*F"2% X"0,#% '5'F',.'6,#% ?)* *#<*-,5%,<"-.,-%,%+,%-*('B5%,%.-,6$#%0* )5%.-,/,8"%'50*<*50'*5.*L%,-.'F)+,0"%C 0*%+,-("%<+,h"2 7-,)F,5G,%K*-0*%<-*.*50*%#)I,-%, ."0"#%+"#%,F."-*#%-*+*6,5.*#%*5%*+%.*I, I*0'",I/'*5.,+L% C,% #*,% 0*+% #*F."<g/+'F"L% <-'6,0"% C% ,F,0$I'F"L% <,-, F"5.-'/)'-%,%I*8"-,-%+,%F,+'0,0%0*%6'0, *5%+,%-*('B5L%,%.-,6$#%0*%+,%0'#I'5)F'B5 0*% +,% F"5.,I'5,F'B5% ,I/'*5.,+% 0* X*I)F"%C%:,0-*%9,#%D,#,#L%,0*If#%0* /)#F,-% )5,% #"+)F'B5% <*-I,5*5.*% *5 I,.*-',%0*%-*#'0)"#%#B+'0"#2 7'.)$L%*5%.,5."L%,/"-0,-f%+,%.*If.'F, 0*% +"#% <)*/+"#% "-'('5,-'"#% C% +, I)+.'F)+.)-,+'0,0L%F"I"%)5%Y,F."-%0* 0*#,--"++"%<,-,%+,#%-*('"5*#%C%*+%<,G#L *5.-*(,50"%<-"<)*#.,#%,%)5%.*I,%?)* 5"%=,%#'0"%,/"-0,0"%0*%I,5*-,%'5.*(-,+L ,%.-,6$#%0*%+G5*,#%*#.-,.$('F,#%F"I"%+, F)+.)-,% *% '0*5.'0,0L% *+% 0*#,--"++" *F"5BI'F"L% +"#% I*F,5'#I"#% 0* -*<,-,F'B5% C% +,% '5#.'.)F'"5,+'0,02

D"-<I,++*F"L%<"-%#)%<,-.*L%#*-f%)5 ,<"-.*%5"%#B+"%,%+,%<-"6'5F',L%#'5"%,%+, -*('B5L%?)*%<"0-f%,6,5h,-%=,F',%)5, I,C"-%0*#F*5.-,+'h,F'B5L%,%.-,6$#%0* )5,%'5#.,5F',%?)*%'I<)+#,-f%<-"C*F."# *#.-,.$('F"#%<,-,%&,++*F"%C%0*#,--"++,-f *+%.*--'."-'"%*5%Y"-I,%F"58)5.,L%F"5%)5 .-,/,8"%<g/+'F"^<-'6,0"2 J#."#%+"(-"#%5"#%++*5,5%0*%"-()++"L .,I/'$5%+,%F"5#"+'0,F'B5%0*%'5'F',.'6,# F"I"%*+%J5F)*5.-"%JI<-*#,-',+%0*%9, 7-,)F,5G,L%?)*%F*+*/-B%#)#%RQ%,E"#i%+, b)50,F'B5% 7-,)F,5G7<-*50*L% ?)* 'I<+*I*5.B%)5%5)*6"%<-"(-,I,%<,-, #*()'-% Y"-.,+*F'*50"% +,#% F,<,F'0,0*# +*F."-,#%0*%+"#%5'E"#%0*%+,%-*('B5i%+, ,+',5h,%X*I)F"%j5'6*-D')0,0L%?)*%F"5 )5% *c'."#"% F,I<*"5,."% '5F"-<"-B% *+ 0*<"-.*%*5.-*%#)#%+G5*,#%0*%,FF'B5i%C%*+ :,-?)*%H50)#.-',+%C%X*F5"+B('F"%0*%9, 7-,)F,5G,L%?)*%#B+"%*#.*%,E"%'5F"-<"-B ,%"F="%5)*6,#%*I<-*#,#2 X"0"%*#."%*#%<,-.*%0*%+"%?)*%=*I"# ?)*-'0"%F"I<,-.'-%*5%*#.,%*0'F'B5%0* 5)*#.-,%-*6'#.,L%.*If.'F,#%?)*%#*%#)I,5 ,%-*<"-.,8*#%0*%,F.),+'0,0L%F"I"%*+%0*+ @)*6"%7*-"<)*-."%H5.*-5,F'"5,+i%#"/-* .)-'#I"%0*%'5.*-*#*#%*#<*F',+*#L%F"5%*+ @"0"%X*F5"+B('F"%0*%D"-*.)-%*5%D,<'.f5 :,#.*5*i% 0*% *I<-*50'I'*5."#L% ?)* I)*#.-,5% ='#."-',#% '55"6,0"-,#L% 0* *#Y)*-h"%C%<*-#*6*-,5F',i%C%*5.-*6'#.,# ,%0*#.,F,0"#%<*-#"5,8*#%-*('"5,+*#%C 5,F'"5,+*#L% F"I"% 3,6'0% A,++,(=*-L &,-.,%9,("#%C%*+%:-*I'"%@,F'"5,+%0* U'#."-',L%!"-(*%:'5."2 9"#%'56'."%,%F"5"F*-%*#."#%-*+,."#L%C , % ' 5 . * ( - , - # * % , + % -* F " - - ' 0 " % ? ) * D"-<,-,)F,5G,%#*%*5F)*5.-,%.-,h,50" (-,F',#%,%+,%,-.'F)+,F'B5%C%,#"F',.'6'0,0 *5.-*% <*-#"5,#% *% '5#.'.)F'"5*#% ?)* ,<)*#.,5%<"-%)5%I*8"-%Y).)-"%C%F,+'0,0 0*% 6'0,% *5% 5)*#.-,% 1*('B5% 0*% 9, 7-,)F,5G,2

!"#$%&'()*+%&,-.,/'0 :-*#'0*5.* D"-<,-,)F,5G,

3


""#%.4&$#""

!"#$%&#'()%*&*%$"%*!"# $%&#'()%!)!*+(,)()-.)%/) !"#$%&'()*"'+&(,)#()-."/$(/$0%)*'&1$(#)-'(2/(%3()4'253/"#()6)#(.)&17'&.(.)89'675".,):"%."'/$" ;%1"+$#$('$")<2+"$.)6)=$>&,).&).21('"%)&%)?@A?)()#()/"'7"'(/$0%,)B2&)()#()C&/9()/2&%5()/"%)DE ."/$".F

!

)-,5.*%PQRP%*I<-*#,# 0*% 0'6*-#,% G50"+*% #* '5.*(-,-"5% , D"-<,-,)F,5G,2 7+()5,#%-*+,F'"5,0,#%,+ I)50"% ,(-GF"+,L% ".-, 0*+%-)/-"%'5I"/'+',-'"L%0*%+,%'5Y"-If.'F, C%)5,%0*+%#*F."-%0*%+,%#*()-'0,0%C%+, '56*#.'(,F'B5%F-'I'5,+G#.'F,2%;*%.-,.,%0* F'5F"% 5)*6"#% #"F'"#% ?)*% F"5% #) '5F"-<"-,F'B5%-*#<,+0,5%*+%,FF'"5,-%0* )5,%'5#.'.)F'B5%?)*%0*#0*%#)#%'5'F'"# =,% 6*+,0"% <"-% *+% 0*#,--"++"% 0*% 9, 7-,)F,5G,2

F"I)5,%0*+%I'#I"%5"I/-*L%F"5%If# 0*% ?)'5F*% ,E"#% 0*% .-,C*F."-',% *5% *+ <-"F*#,I'*5."%0*%(-,5"#L%*5%<-"0)F."# -*+,F'"5,0"#% ,+% .-'("L% -,<#% C% ,6*5,2

3*%*#.*%I"0"L%&"+'5*-,%A"-/*,L%+, 7#"F',F'B5%A-*I',+%7-,)F,5G,%b-).GF"+, C% +,#% *I<-*#,#% k=-C<."#L% D"5#"-F'" H5I"/'+',-'"%3)/"'#%C%X'0*%#*%#)I,5%, +,%0'6*-#,%(,I,%0*%*I<-*#,#L%(-*I'"#L #'50'F,."#L%,#"F',F'"5*#%0*%F"I)5'0,0*# '50G(*5,#% C% )5'6*-#'0,0*#% ?)* F"5Y"-I,5% D"-<,-,)F,5G,L% ?)*% .-,# *#.,#%,Y'+',F'"5*#L%,F.),+I*5.*%F)*5., F"5%V`%#"F'"#2

3C!=3DAD

D3*?@=)A4=]*@>A J+%I)50"%0*+%,(-"%C%+,#%Y-).,#%#* '5F"-<"-,% F"5% &"+'5*-,% A"-/*, [ddd2I"+'5"("-/*,2F+_%C%+,%7#"F',F'B5 A - * I ' , + % 7 - , ) F , 5 G , % b- ) . G F " + , [ddd2,-,)F,5',Y-).'F"+,2F+_2%9,%<-'I*-, *#%)5,%*I<-*#,%Y,I'+',-%)/'F,0,%*5%+,

7-,)F,5G,%b-).GF"+,L%*5%.,5."L%5" #B+"%#*%0*#.,F,%<"-%#*-%)5%(-*I'"%?)* -*<-*#*5.,% +,% 0'6*-#'0,0% Y-).GF"+, *I<-*#,-',+%C%0*%+,%<*?)*E,%,(-'F)+.)-,L F"5%If#%0*%6*'5.*%#"F'"#L%#'5"%<"-?)* Y"I*5.,%+,%'55"6,F'B5L%+,%(*#.'B5%C%+, ,-.'F)+,F'B5L% <,-,% +"(-,-% )5,% I*8"F"I<*.'.'6'0,0%0*%+,%'50)#.-',%Y-).GF"+, 0*%+,%-*('B52

;'%/'*5%X'0*%[ddd2.'0*2F+_%=,%*#.,0" F*-F,%0*%D"-<,-,)F,5G,%C%#)#%'5'F',.'6,# 0*#0*% =,F*% )5% .'*I<"L% *#.*% ,E"% #* '5F"-<"-B%F"I"%#"F',2%;*%.-,.,%0*%)5, *I<-*#,%+G0*-%*5%0*#,--"++"%0*%#"Y.d,-* <,-,%*I<-*#,#%*%'5#.'.)F'"5*#L%#"/-* ."0"%()/*-5,I*5.,+*#%C%*0)F,F'"5,+*#2 U"C%.-,/,8,5%If#%0*%P\%'5(*5'*-"#%C%#' /'*5% .'*5*% <*0'0"#% 0*% D='+*% C% *+ *c.-,58*-"L%+,%*I<-*#,%#'()*%"<*-,50" 0*#0*%X*I)F"L%0"50*%5,F'B%*5%PQQVL 0*%+,%I,5"%0*%)5%*?)'<"%0*%*c<*-."# *5%*+%f-*,L%+'0*-,0"%<"-%:*0-"%U*<<L Y)50,0"-%0*+%<-"C*F."%J5+,F*#L%<'"5*-" *5%+,%'5#*-F'B5%0*%+,#%.*F5"+"(G,#%0* '5Y"-I,F'B5% C% F"I)5'F,F'B5% *5% *+ #'#.*I,% *0)F,F'"5,+% F='+*5"222222222

D"5#"-F'"% H5I"/'+',-'"% 3)/"'# [ddd20)/"'#2F+_% *#% ".-,% *I<-*#, -*F"5"F'0,%0*%+,%-*('B5L%0*%+,%F),+%*# A * -* 5 . * % ) 5 % * c % : -* # ' 0 * 5 . * % 0 * D"-<,-,)F,5G,Z%9"-*5h"%3)/"'#2%X-,# F-*,-#*% *+% PQQ`% *5% X*I)F"L% #*% =, 0*#.,F,0"%<"-%0,-+*%I,C"-%<+)#6,+G,%,+ F*5.-"%0*%+,%F')0,0L%F"5%*0'Y'F'"#%0* -*5"6,F'B5% )-/,5,% *5% F,++*#% F"I" 750-$#%4*++"%"%75."5'"%K,-,#2%X,I/'$5 .'*5*%<-"C*F."#%*5%9"#%l5(*+*#L%?)*%,+ '(),+%?)*%+"#%0*%X*I)F"L%#*%F,-,F.*-'h,5 <"-% )5% 0'#*E"% '55"6,0"-% C% #'#.*I,# F"5#.-)F.'6"#% 0*% g+.'I,% (*5*-,F'B52 :"-% g+.'I"L% +,% F"5#)+."-,% I)+.'^ 0'#F'<+'5,-',%k=-C<."#%[ddd2m=-C<."#2F+_ *#%)5,%*I<-*#,%,%+,%6,5(),-0',%*5%+, '56*#.'(,F'B5%0*+%0*+'."L%?)*%I*0',5.* *#.)0'"#%C%,FF'"5*#%F-'I'5"+B('F,#L%C F"5%*+%,<"C"%.$F5'F"%C%.*F5"+B('F"%0* +,% F-'I'5,+G#.'F,L% <*-I'.*% -*,+'h,'56*#.'(,F'"5*#%C%"."-(,-%#*-6'F'"#%0* #*()-'0,02%J5.-*%$#."#%#*%*5F)*5.-,5 F)-#"#%0*%(-,Y"+"(G,L%-*F"5"F'I'*5."%0* Y'-I,#L%0*%I"5*0,%5,F'"5,+%C%*c.-,58*-,L ,5f+'#'#%0*%/,+G#.'F,L%#'5'*#.-"#L%*5.-* ".-"#2 X"0,#% *++,#L% C,% #*% =,5% <"0'0" '56"+)F-,-% *5% *+% ?)*=,F*-% 0* D"-<,-,)F,5G,L%?)*%F"5%*+%,<"-.*%0* F,0,% )5,% #*()'-f% .-,/,8,50"% <"-% *+ ,6,5F*%0*%+,%-*('B52

5


""#,*,-,&%,6&$#""

+(,'$%&-#")(.!"'/0/ "#!0)!1-#')!,+(!#0!2#,+(&# !G.)>&)H@@)I0J&%&.)>&7"'5$.5(.)7'"5(K"%$L('"%)#".)M2&K".)<&7"'5$J".)=&12/")N%$J&':$2>(> ?@A?,)ON%)&B2$7",)2%()/$2>(>P,)$%2%>(%>")>&)7('5$>".)6)/"17&5&%/$(.)&%).&$.)>$./$7#$%(.)#( /(7$5(#)>&)Q()-'(2/(%3(F)42&)2%)&R$5".")/(17&"%(5",)##&%")>&)/(1('(>&'3()6)"75$1$.1",)"'K(%$L(>" 7"')=&12/")N%$J&':$2>(>)<&7"'5&,)#()!2%$/$7(#$>(>)>&)=&12/")6):"'7('(2/(%3(,)/"%)#()&.7&/$(# /"#(+"'(/$0%)>&)#()42%>(/$0%)*(%(1".)=">".F

7


"

""#,*,-,&%,6&$#""

*I)F"%j5'6*-D')0,0%#* +,% *#.f% 8)(,50"% <"-% *+ 0*<"-.*% *5% +,% F,<'.,+ -*('"5,+2% 9"#% -*F."-*#% C 6'F*--*F."-*#%0*%+,%,+',5h, XjD% '5.*(-,0,#% <"-% +,# )5'6*-#'0,0*#%0*%9,%b-"5.*-,L%D,.B+'F, 0*%X*I)F"L%7).B5"I,%0*%D='+*L%&,C"-L ;,5."%X"If#%*%H5,F,<L%=,5%<-'"-'h,0" Y"I*5.,-%+,%<-fF.'F,%C%#,5,%F"I<*.*5F', 0*<"-.'6,%*5%Y"-I,%F"58)5.,L%F"5%I'-,# ,%F"5#"+'0,-%)5,%'0*5.'0,0%0*<"-.'6, )5'6*-#'.,-',%C%F"I)5,+2 nJ+% *#<G-'.)% ?)*% ()G,% ,% X*I)F" j5'6*-D')0,0L% 0'F*% -*+,F'B5% F"5% +, '5.*(-,F'B5L%F"5%'I<+*I*5.,-%'5'F',.'6,# 0*%*56*-(,0)-,%0*%I,5*-,%,#"F',.'6,%C ?)*% <"#*,5% *+% 6,+"-% ,(-*(,0"% 0* <".*5F',-% ,% +,% F')0,0% F"I"% F*5.-" ,F,0$I'F"%C%0*+%F"5"F'I'*5."L%*5%f-*,# F"I"% +,% F)+.)-,L% -*+,F'"5*#% '5.*-^ 5,F'"5,+*#L% <+,.,Y"-I,% '5.*-5*.L ,-.'F)+,F'B5%0*%,F."-*#L%,#"F'f50"+,%, ,.-'/)."#%*#<*FGY'F"#L%*5%*#.*%F,#"L%F"5 )5% I,C"-% 0*#,--"++"% *5% *+% fI/'." 0*<"-.'6"oL% =,5% I,5'Y*#.,0"2 !!!!!! :,-,%+,%'5'F',.'6,%*#%Y)50,I*5.,+%+, 6'5F)+,F'B5% C% #'5*-(',% ?)*% #*% <)*0* * # . , / + * F * - % * 5 . -* % . " 0 , # % * # . , # '5#.'.)F'"5*#L%F"I<'.'*50"%C%.-,/,8,50" 8)5.,#%*5%."-5"%,+%0*<"-.*L%'5F+)'0,%+, &)5'F'<,+'0,0% 0*% X*I)F"2% 7#G% #* I*5F'"5B% *5% +,% '5,)()-,F'B5% 0*% +"# !)*("#Z%K'6'I"#%*5%)5,%#"F'*0,0%F,0, 6*h%If#%'50'6'0),+'#.,L%0"50*%<-'I,5 F"5%Y)*-h,%+"#%'5.*-*#*#%<,-.'F)+,-*#%<"#"/-*%*+%/'*5%F"Ig5L%*#F*5,-'"%0"50* *+%0*<"-.*%F"/-,%*#<*F',+%-*+*6,5F',%*5 +,%<-"I"F'B5%0*%+,%#"+'0,-'0,0L%*+%.-,/,8" *5%*?)'<"L%C%)5,%#*-'*%0*%".-"#%<-'5F'<'"# ?)*%*5-'?)*F*5%,%+,#%<*-#"5,#2!!!!!!!!!!!!!!!!! 3*#0*%*+%I)5'F'<'"L%*5%.,5."L%*#., 5)*6,%+G5*,%0*%,FF'B5%*#%6,+"-,0,%<"-?)* #*%F"I<+*I*5.,%F"5%+"%?)*%=,%6*5'0" =,F'*50"%*5%+,%I,.*-',2%nj5"%0*%+"# *8*#%0*%5)*#.-,%,0I'5'#.-,F'B5%=,%#'0" *+%0*<"-.*L%?)*%*#%Y)50,I*5.,+%<,-,%+, Y"-I,F'B5%0*%+,%(*5.*L%+,%'5.*(-,F'B5 0*%+"#%5'E"#L%+,%F-*,.'6'0,0L%+,%,+*(-G,L <,-,% Y"I*5.,-% I*8"-*#% F"50'F'"5*# YG#'F,#%C%".-,#%F"#,#L%,#G%?)*%Y*+'F'."%, X*I)F"%j5'6*-D')0,0%C%D"-<,-,)F,5G, <"-%+,%'5'F',.'6,%0*%++*6,-%,0*+,5.*%!)*("# 0*%*#.*%.'<"L%#,/'*50"%?)*%.*5*I"#%F,#' `\%I'+%,+)I5"#%*5%5)*#.-,%F"I)5,%C ?)*%I)F="#%0*%*++"#%5"%#"5%0*%X*I)F"oL *5Y,.'h,% &'()*+% 4*Fm*-L% 7+F,+0*% 0* X*I)F"2 :,-,% !"#$% &'()*+% &,-.,/'0L :-*#'0*5.*%0*%D"-<,-,)F,5G,L%$#.*%*-, )5%<,#"%5*F*#,-'"%C,%?)*%*+%0*<"-.*

#'*I<-*% (*5*-,% '5.*-$#2% n4)#F,50" <)5."#% 0*% *5F)*5.-"% *5.-*% ?)'*5*# Y"-I,5% X*I)F"% j5'6*-D')0,0L F"5F+)'I"#% ?)*% *+% 0*<"-.*% 0*/G, <".*5F',-#*L%<"-?)*%*#%,+("%?)*%)5*2%p F"5.,-% F"5% +,% <,-.'F'<,F'B5% 0*% +, b)50,F'B5%A,5,I"#%X"0"#L%#'5%0)0,%+* 0,%".-,%'I<-"5.,%,%*#.*%,FF'"5,-L%?)* #*%=,%6'#."%Y"-.,+*F'0"%F"5%+"#%-*+*6,5.*# ,<"-.*#% 0*+% *?)'<"% ?)*% +,% +'0*-,oL #"#.'*5*2 j5,% <,-.'F'<,F'B5% ?)*% U,-"+0 &,C5*^@'F="++#%,<-*F'B%0*#0*%?)*%#* +*%'56'.B%,%#)I,-#*2%n:*-#"5,+I*5.*%5" F"5F'/"%?)*%*+%0*#,--"++"%0*%)5%<,G#%5" '5F+)C,%*+%0*<"-.*L%<"-%*#"%F),50"%5"# '5Y"-I,I"#%0*%*#.*%<-"C*F."%6'I"#%?)* =,/G,5%I)F=G#'I,#%#'I'+'.)0*#%F"5%+" ?)*%5"#".-"#%=,F*I"#L%<"-%*#"%++*(,I"# ,% )5% ,F)*-0"% #)I,I*5.*% YfF'+% F"5 D"-<,-,)F,5G,L%?)*%,0*If#%5"#%.'*5*

!"#$%&'(%')(*%+',-$-')(&. .)/.(0,'1.2/'(3*-')(4#.(5$67$% -#257)*-')(0#%/')(&. .%2#.%/,'(2'%(8'(4#.(%')'/,') 5$2.-')(9:;(%')(/*.%.()<0., )$/*)+.25')(0',4#.(.)/$-') $0',/$%&'($8='($8(&.)$,,'88' &.0',/*3'(&.(#%$(2*#&$& *-0',/$%/.(2'-'(.)(>.-#2'?@ A$,'8&(B$1%.CD*25'88)@ E,.)*&.%/.(F#%&$2*G%(H$%$-') >'&')I

8


""#,*,-,&%,6&$#""

#g<*-% #,.'#Y*F="#L% <"-?)*% *#.,I"# ,<"-.,50"%,+("%,+%0*#,--"++"%0*<"-.'6" 0*% )5,% F')0,0% 'I<"-.,5.*% F"I"% *# X*I)F"oL%#*E,+,2 J+% ,F)*-0"% F"5% +,% b)50,F'B5 A,5,I"#%X"0"#%/)#FB%*8*F).,-%,FF'"5*# *5% *#.,% f-*,% ?)*% /*5*Y'F'*5% ,% +"# *#.)0',5.*#%0*%+,#%)5'6*-#'0,0*#%?)* '5.*(-,5% +,% ,+',5h,2% J#% ,#G% ?)*% *+% *c .'I"5*+% 0*% +,% 75Y<L% ,<"-.B% 0*#0*% #) b)50,F'B5%F"5%F,<,F'.,F'B5%*5%.*I,# "-(,5'h,.'6"#%C%.$F5'F"#L%0,50"%F=,-+,# ,% +"#% 8B6*5*#% C% (*#.'"5,50"% +, <,-.'F'<,F'B5% 0*% Y'()-,#% 0*+% fI/'." 0*<"-.'6"% ^F"I"% *+% f-/'.-"% 0*% Yg./"+

D-'#.',5%!)+'"^L%?)*%.,I/'$5%<)0'*-"5 I".'6,-%,%,+)I5"#%C%0"F*5.*#%0*+%f-*,2

>@D)US34@D b)*-"5%.-*#%I*#*#%0*%F"I<*.*5F',#L F"5%If#%0*%]QQ%*#.)0',5.*#L%0"50*%*+ Yg./"+L%/f#?)*./"+L%.*5'#L%/*,F=%6"++*CL .*5'#%0*%I*#,%C%=f50/"+%#*%0'*-"5%+)(,*5%*#<,F'"#%0*<"-.'6"#%F"I"%*+%A'I5,#'" S+GI<'F"% 0*% +,% jY-"L% *+% D"+'#*" 7).B5"I,L% *+% J#.,0'"% J+% 4,8"L% *+ A'I5,#'"% 0*% b)50"% *+% D,-I*5L% +,# F,5F=,#%0*+%A*-If5%4*Fm*-L%*5.-*%".-"#2 D+,)0'"%K,+0'6',L%!*Y*%0*%3*<"-.*# 0*%+,%&)5'F'<,+'0,0%0*%X*I)F"L%#"#.'*5*

./0123.4/%5%61/17.8.+2.93 9,%Y'*#.,%0*+%0*<"-.*%)5'6*-#'.,-'"%*5%+,%F,<'.,+%-*('"5,+L%.)6"%)5,%'56*-#'B5%0*Z

&)5'F'<,+'0,0%0*%X*I)F"%

qW2QQQ2QQQ

j5'6*-#'0,0*#L%F""-0'5,0,# <"-%D"-<,-,)F,5G,Z%

qN2]QQ2QQQ

X".,+Z%

qR\2]QQ2QQQ

9"#%/*5*Y'F',-'"#%0*%+,%'5'F',.'6,%Y)*-"5Z

9:

3'-*F."#Z%

]]Q%0*<"-.'#.,#

H50'-*F."#Z

R2rNQ%[FG-F)+"%'5I*0',."_

X".,+Z%

P2]VQ%<*-#"5,#

?)*% *5% *+% 0*#,--"++"% 0*% F,0, F"I<*.*5F',%Y)*%F+,6*%*+%,<"C"%0*%+"# <-"Y*#'"5,+*#%0*.-f#%0*%+,%"-(,5'h,F'B5L .,5."% 0*+% I)5'F'<'"% F"I"% 0*% +,# )5'6*-#'0,0*#% C% D"-<,-,)F,5G,L% ?)* Y"-I,-"5% )5% *?)'<"% ?)*% #*% -*)5'B <*-'B0'F,I*5.*%<,-,%*6,+),-%+"%-*,+'h,0" C%+"#%<,#"#%,%#*()'-2 nJ5%*+%I)5'F'<'"%.*5*I"#%,+-*0*0"0*%RQ%I'+%<*-#"5,#%=,F'*50"%0*<"-.* F"5% 5)*#.-"#% <-"(-,I,#L% <*-"% #"5 (*5*-,+I*5.*%I)8*-*#L%,0)+."#%I,C"-*# C%5'E"#%*5.-*%+"#%N%C%RV%,E"#L%C%=,/G, )5,%0*I,50,%'I<"-.,5.*%?)*%X*I)F" F"I"% F')0,0% )5'6*-#'.,-',% 5"% .*5G, F)/'*-.,2%7#G%?)*%"Y-*F'I"#%C%0'#<)#'I"# (-,.)'.,I*5.*%+,%'5Y-,*#.-)F.)-,%C%*+ *?)'<"%<-"Y*#'"5,+%*5%*#.,%,F.'6'0,0%.,5 'I<"-.,5.*% C% ?)*% Y)*% )5% .-*I*50" 0*#,YG"2%7+%<-'5F'<'"%5"#%.'-,I"#%I)C /,8"%F"5%+,#%*c<*F.,.'6,#L%<*-"%Y)'I"# F-*F'*50"%C%*#<*-,I"#%F"5#"+'0,-%*#."# !)*("#%,E"%,%,E"oL%*c<-*#B2 :,-,% +"#% *#.)0',5.*#L% 6*-0,0*-"# <-".,("5'#.,#% 0*% +"#% !)*("#L% *#., '5'F',.'6,% #'(5'Y'FB% I)F="L% C,% ?)* <)0'*-"5%F"I<,-.'-%*5.-*%)5'6*-#'0,0*# C% .*5*-% )5,% '5#.,5F',% *c.-,% <,-, F"I<*.'-2%nJ#."#%!)*("#%5"#%#'-6'*-"5 I)F="%<,-,%,Y',.,-5"#%If#%F"I"%*?)'<" C%Y)*%)5,%"<"-.)5'0,0%If#%<,-,%8)(,-


""#,*,-,&%,6&$#""

!:.8(&.0',/.(2'6,$(.)0.2*$8 ,.8.3$%2*$(.%(8$(0,'-'2*G%(&. 8$()'8*&$,*&$&@(.8(/,$6$J'(.% .4#*0'@(1(#%$().,*.(&.('/,') 0,*%2*0*')(4#.(.%,*4#.2.%($(8$) 0.,)'%$)?@(K#/',*&$&.)(>.-#2' L%*3.,"*#&$&I F"5.-,% +,#% 0*If#% )5'6*-#'0,0*#2 J#.,I"#% I)C% I".'6,0,#% <,-,% +"# <-Bc'I"#%!)*("#L%C,%?)*%#"I"#%)5%(-)<" 0*%,I'(,#%If#%?)*%F"I<,E*-,#L%?)* ?)*-*I"#% 0*I"#.-,-% F,0,% 0G,% *+ F"I<,E*-'#I"%C%,I'#.,0%?)*%*c'#.*%*5 +,%F,5F=,L%*5%*+%F,I,-G5%"%*5%F),+?)'*".-"%F"5.*c."%*5%?)*%5"#%<-*#*5.*I"#oL #"#.'*5*%X-,FC%1"8,#L%8)(,0"-,%0*+%*?)'<" 0*% /f#?)*./"+% 0*% +,% j5'6*-#'0,0 7).B5"I,%0*%D='+*L%;*0*%X*I)F"L%?)* #,+'B% F,I<*"5,% *5% +,% F,.*("-G,2

3>3C3E?@)?=AEDH3=DA> j5% '5.*-$#% *#.)0',5.'+% 6,+"-,0" .,I/'$5%0*#0*%+,#%,)."-'0,0*#L%?)*%6*5 *5%*+%0*<"-.*%)5,%,.-,F.'6,%=*--,I'*5., 0*%<,-.'F'<,F'B52%n:"0*I"#%.*5*-%<+,5*# 0*% *#.)0'"L% <-"C*F."#% *0)F,.'6"# 0'Y*-*5.*#L% ."0"#% +*(G.'I"#% <"-% #G I'#I"#L%<*-"%#'%=,C%,+("%,/#"+).,I*5.* .-,5#6*-#,+L%C%?)*%5'5()5,%'5#.'.)F'B5 0*%*0)F,F'B5%#)<*-'"-%<)*0*%0*8,-%0* .*5*-L% *#% <-*F'#,I*5.*% *+% 0*<"-.*2 J5."5F*#%*5%*#."%*-,%YfF'+%(*5*-,-%)5, <,-.'F'<,F'B5% I,#'6,L% 5"% #B+"% *5% +,# Fg<)+,#L%#'5"%'56"+)F-,50"%,%+"#%,F."-*# <-'5F'<,+*#%?)*%#"5%+"#%*#.)0',5.*#oL 0*#.,F,%U)("%D)I#'++*L%K'F*--*F."-%0* +,%j5'6*-#'0,0%&,C"-L%;*0*%X*I)F"2

J5%*Y*F."L%<,-,%+,%I,C"-G,%0*%+"# -*F."-*#% <*-.*5*F'*5.*#% ,% +,% ,+',5h, XjDL%)5,%0*%+,#%I,C"-*#%F),+'0,0*# ?)*%.'*5*%*#.,%5)*6,%+G5*,%0*%,FF'B5%*# +,%.-,5#6*-#,+'0,02%n@"%=,C%5,0,%?)* )5,%If#%?)*%*+%0*<"-.*L%5"%=,C%5,0,2 sD)f+%*#%*+%*6*5."%I)50',+%*5%*+%?)* <,-.'F'<,5%."0"#%+"#%<,G#*#t%+"#%!)*("# S+GI<'F"#2% 7#G% *#% ?)*% 5"% #B+"% *# 5*F*#,-'"%.*5*-%*#.,%+G5*,%0*%,FF'B5%0*+ 0*<"-.*L%#'5"%*#*5F',+oL%,#*()-,%!"#$ J5-'?)*% ;F=->0*-L% K'F*--*F."-% 0*% +, j5'6*-#'0,0%7).B5"I,%0*%D='+*L%;*0* X*I)F"2 7+("%*5%+"%?)*%F"5F)*-0,%1"#*I,-'* !)5(*L%1*F."-,%0*%+,%j5'6*-#'0,0%;,5." X"If#2%nJ#.,I"#%I)C%F"5.*5."#%F"5 *#."#% <-'I*-"#% !)*("#% 3*<"-.'6"# X*I)F"%j5'6*-D')0,02%D-**I"#%?)* *5%+,%)5'6*-#'0,0%5"%#B+"%#*%*#.)0',L #'5"% .,I/'$5% #*% 0*/*% '5F"-<"-,-% *+ 0*<"-.*%<,-,%*+%0*#,--"++"%0*%5)*#.-"# Y).)-"#%<-"Y*#'"5,+*#i%C%?)*%,="-,%*++"# F"I<'.,5% 6,% ,% =,F*-% ?)*% #*% Y"-I*5 +,h"#%*5.-*%*++"#%C%*#"%6,%,%-*0)50,-%*5 ?)*% *#.*I"#% If#% )5'0"#oL% *5Y,.'h,2

!=@c3**<dE :"-% ."0"% *#."% +,% '0*,% *#% ?)*% *#., <-'I*-,%*c<*-'*5F',%<)*0,%-*<+'F,-#* *5% *+% .'*I<"L% '5.*(-,50"% ,% ".-,# '5#.'.)F'"5*#%0*%*0)F,F'B5%#)<*-'"-%C 5'6*+*#% 0*% *5#*E,5h,L% *% '0*,+I*5.* ,/,-F,50"%,%If#%F"I)5,#%0*%+,%-*('B52 7#G%+"%F-**%7+'-"%4B-?)*hL%1*F."-%0*%+, j5'6*-#'0,0%D,.B+'F,%0*%X*I)F"L%?)'*5 6,+"-,%*+%$c'."%?)*%.)6'*-"5%*#."#%!)*("# 3*<"-.'6"#2 nD-*"%?)*%+"#%!)*("#%3*<"-.'6"#%=,5 .*5'0"%)5%'I<,F."%I)C%'I<"-.,5.*%*5 +,% F"I)5'0,0% )5'6*-#'.,-',2% 9 "# *#.)0',5.*#% #*% =,5% #*5.'0"% I)C F"I<-"I*.'0"#% F"5% *#.,% ,F.'6'0,0L <"-?)*% F),50"% +,#% F"#,#% *#.f5% /'*5

"-(,5'h,0,#%+"#%*#.)0',5.*#%+,#%6,+"-,5 C%I".'6,5%I)F="%If#%#)%<,-.'F'<,F'B52 p"% =*% *#F)F=,0"% ,% I)F="#% 0*% I'# *#.)0',5.*#%?)*%"8,+f%*#."%#*%6)*+6,%, -*<*.'-L%,#G%?)*%.*5*I"#%?)*%=,F*-%)5 *#Y)*-h"%<,-,%?)*%*#"%"F)--,%*+%PQR`oL #*E,+,2 J5%.,5."L%;*-('"%4-,6"L%1*F."-%0* +,%j5'6*-#'0,0%0*%9,%b-"5.*-,L%,Y'-I, ?)*%*#.,%F,#,%0*%*#.)0'"#%,<"C,-f%."0, -$<+'F,%0*%*#.*%.'<"%0*%*6*5."#2%nJ#.* F,I<*"5,."%.'*5*%?)*%#*()'-%F-*F'*50"L C% *5% +,% I*0'0,% *5% ?)*% #*% 6,C, <"#'F'"5,50"%C%F"5#"+'0,50"L%6,I"#%, .*5*-%)5,%I,C"-%<,-.'F'<,F'B52%p"%F-*" ?)*%*#"%#*%6,%'-%0,50"%*5%Y"-I,%5,.)-,+ F"5% *+% .'*I<"L% C% <"-% +"% I*5"#% F"I" <"+G.'F,%)5'6*-#'.,-',%0,-*I"#%*+%,<"C" .".,+%,%*#.,%'5'F',.'6,L%0*%.,+%I,5*-,%?)* +,% I,C"-G,% 0*% 5)*#.-"#% *#.)0',5.*# <)*0,5%<,-.'F'<,-%0*%+"#%F,I<*"5,."# ?)*% #*% 0'#*E*5% ,% .-,6$#% 0* j5'6*-D')0,0oL%0*#.,F,2 :"-% #)% <,-.*L% D+,)0'"% K*5*(,#L K'F*--*F."-%0*%H5,F,<%X*I)F"L%#*E,+, ?)*%*+%6,+"-%0*%*#."#%!)*("#%*#%?)*%=,5 Y"I*5.,0"% *+% 0*<"-.*% F"I"% <,-.* *#*5F',+%0*%+,%6'0,%)5'6*-#'.,-',2%n:"I*0'"%0*%*#.,#%,F.'6'0,0*#%+"#%,+)I5"# 5"% #B+"% #*% 0*#,--"++,5% *5% )5% fI/'." ,F,0$I'F"% C% 0*% ,)+,L% .,I/'$5% *5 ,F.'6'0,0*#% -*F-*,.'6,#2% D-*"% ?)* X*I)F"%j5'6*-D')0,0%3*<"-.*%*#%)5 <,#"% If#% <,-,% ?)*% 5)*#.-,% F')0,0 -*,+I*5.*% .*5(,% )5,% '0*5.'0,0 )5'6*-#'.,-',L%C%*#<*-*I"#%?)*%,%Y).)-" *#.,#% F"I<*.*5F',#% ,0?)'*-,5% If# -*+*6,5F',L% /)#F,50"% 5"% #B+"% +, <,-.'F'<,F'B5%0*%+"#%8B6*5*#L%#'5"%?)* .,I/'$5% 0*% ."0,% +,% F"I)5'0,0 *0)F,.'6,oL%0'F*2

99


""#.*%1.6,$%&#""

:*;<=%(*>>*?@A)B

10&2.0'$0#30 #"!-%)!2#!0)" (#'$+%#"!34" $3,+(&)%&#" 2#0!,)/" S#)T'&.$>&%5&)>&)-..&5)6)/"%.2#5"')>&#):ST)/'$5$/()#()$%>$C&'&%/$()>&)#".)7"#35$/".)(%5& &#)&R/&.$J")/&%5'(#$.1")&%)&#)7(3.)6)%")5$52+&()(#)>&/$')B2&)#".);%5&%>&%5&.)>&+&%).&' &#&K$>".)7"')J"5(/$0%)7"72#('F)=(1+$U%)(.&K2'()B2&)9(6)2%()C(#5()>&)$%/#2.$0%)&%)#(. $%.5$52/$"%&.)/9$#&%(.,)."+'&)5">")&>2/(/$"%(#&.F

9!


""#.*%1.6,$%&#""

#

"I"% ,F,0$I'F"L *I<-*#,-'"% C F"+)I5'#.,L% 3,6'0 A,++,(=*-%*#%)5,%6"h -*F"5"F'0,%*5%I,.*-', *F"5BI'F,%C%<"+G.'F,L #'*50"%)5%-*Y*-*5.*%*5%*+%,5f+'#'#%0*+ D='+*% 0*% ="C2% J#% #"F'"% Y)50,0"-% C :-*#'0*5.*% 0*% 7##*.L% )5% /,5F"% 0* '56*-#'B5%*5%Y)#'"5*#%C%,0?)'#'F'"5*#L Y'5,5F',I'*5."#%C%,0I'5'#.-,F'B5%0* ,F.'6"#% F"5% If#% 0*% P\% ,E"#% 0* *c<*-'*5F',L%0*#0*%0"50*%=,%#'0"%,#*#"0*%(-,50*#%<-"C*F."#L%#"/-*%."0"%*5%*+ #*F."-%I'5*-"L%*5%D='+*L%7-(*5.'5,%C :*-g2 A,++,(=*-%I,.'h,%*#.,#%"F)<,F'"5*# #'*50"%I'*I/-"%0*%0'-*F."-'"#%F"I"%*+ 0*%D*5F"#)0L%0*+%D"5#*8"%D='+*5"%0* 1*+,F'"5*#%H5.*-5,F'"5,+*#L%0*%+,%:*((C A)((*5=*'I%D"++*F.'"5L%*5%K*5*F',L%C 0*+% D"5#*8"% @,F'"5,+% 0*% +,% D)+.)-,L 8)5."%F"5%#)%-"+%0*%D"5#*8*-"%0*+%D*5.-" 0*%J#.)0'"#%:g/+'F"#%[DJ:_2 ;)#%,<,-'F'"5*#%<g/+'F,#%0*#0*%+,# F"+)I5,#%?)*%-*0,F.,%*5%*+%3',-'"%J+ &*-F)-'"% C% *5% *+% X'I*#% 9'.*-,-C ;)<<+*I*5.%[X9;_L%#"5%+,#%?)*%+*%=,5 0,0"%)5,%0*#.,F,0,%5"."-'*0,0%*5%+, "/#*-6,F'B5%0*%+,%F"5.'5(*5F',2%9*%()#., ,5,+'h,-% .*I,#% 0*% ,F.),+'0,0% C -*Y+*c'"5,-% #"/-*% ,#)5."#% .*B-'F"#% C #"F'"+B('F"#L%F"5%)5,%I'-,0,%+'(,0,%,%+, F*5.-"%0*-*F=,L%<*-"%If#%+'/*-,+%?)* F"5#*-6,0"-,2 J#% ,#G% ?)*% =,% I"#.-,0"% #)# <-"Y)50,#%F"56'FF'"5*#L%F"I"%+,%0*%)5, I,C"-% '5F+)#'B5% *5% +,% *0)F,F'B5L F"I<,-.'*50"% F'*-."#% <)5."#% F"5% *+ I"6'I'*5."%*#.)0',5.'+i%+,%5*F*#'0,0%0* )5,%-*Y"-I,%,+%#'#.*I,%/'5"I'5,+%C%+, ,<-"/,F'B5%0*%+,%*+*FF'B5%0'-*F.,%0*%+"# H5.*50*5.*#%<,-,%)5,%0*#F*5.-,+'h,F'B5 If#%*Y*F.'6,2 ;)%,I<+'"%/,(,8*%F)+.)-,+%#*%0'6'#, *5% *#.,% *5.-*6'#.,L% 0"50*% =,/+,% 0*+ *I<-*#,-',0"%*5%9,%7-,)F,5G,L%0*%+"# <".*5F',+*#%?)*%.'*5*%+,%-*('B5L%*+%.*I, I,<)F=*% C% +,% )-(*5F',% 0*% )5, 0*#F*5.-,+'h,F'B5%?)*%.*-I'5*%F"5%+, I,5G,%?)*L%#*(g5%$+L%.'*5*%*+%J#.,0"%<"="I"(*5*'h,-% ,+% <,G#% C% +,#% -*('"5*#2

"#$"#%&'$()*%+$,'-&.$)/-0%$&'$1'&' +2)*02-(32.#$ +%&$ 4/+%0$ %#$ 5,2&%6 73.1/$%8'&9'$&'$0%&'32.#$+%&$")*'+/$: &')$0%;2/#%)< j5,%0*%+,#%F"#,#%?)*%#*%=,/+,%*5 +'.*-,.)-,% *#% ?)*% )5% <,G#% 0*/*% .*5*/)*5,#%C%#B+'0,#%'5#.'.)F'"5*#%<*-"%?)*

9/

!M)(*%-',$8(4#.(#%$(0.,)'%$ .)/N(2'%&.%$&$($(/.%.,(#%$ -$8$(.&#2$2*G%?I *#"%5"%/,#.,L%#'5"%?)*%+,#%'5#.'.)F'"5*# 0*/*5%#*-%'5F+)#'6,#%C%5"%*cF+)#'6,#%" *c.-,F.'6,#L%?)*%#"5%+,#%0'#*E,0,#%<,-, #,F,-+*%-*5.,%,%+"#%0*If#2%J5%D='+*%=,C '5#.'.)F'"5*#%?)*%*#.f5%/'*5%C%".-,#%?)* 5"%+"%*#.f5L%F-*"%?)*%+"#%.-*#%.*I,#%*5 +"#% ?)*% 5"% .*5*I"#% '5F+)#'6'0,0 ,0*F),0,% #"5Z% *+% #'#.*I,% <"+G.'F"L% *+ #'#.*I,% *0)F,F'"5,+L% 0"50*% D='+* ."0,6G,%.'*5*%)5,%F,-*5F',%0*%'5F+)#'B5 I)C%(-,6*L%+"%?)*%*#%.*--'/+*%<"-?)*%#* *#.f5%0*#<*-0'F',50"%)5,%I,C"-G,%0* .,+*5."#%?)*%<"0-G,%*#.,-%(*5*-,50"%*#.* <,G#% C% <"-?)*% *#% '5I"-,+% ?)*% )5, <*-#"5,%*#.$%F"50*5,0,%,%.*5*-%)5, I,+,% *0)F,F'B5i% C% *+% .*I,% 0*% +, "-(,5'h,F'B5% .*--'."-',+L% *#% 0*F'8)#.,I*5.*%*+%.*I,%0*%+,#%-*('"5*#L%C, ?)*%.*5*I"#%)5%*cF*#"%0*%F*5.-,+'#I" *5%D='+*2

75(=&$ )%0>'6$ '$ )($ ?(232/6$ %&$ 3'12#/ 3/00%3*/$4'0'$+'0&%$1=)$'(*/#/1>'$' &')$ 0%;2/#%)<$ 70%3(0)/)<6$ 7%&%332.# +20%3*'$+%$'(*/02+'+%)<@ D-*"%?)*%*#%F"--*F."%?)*%+,#%-*('"5*# .*5(,5%,+(g5%(-,0"%0*%,)."5"IG,%Y'#F,+L *#"% +"% .'*5*5% +"#% *#.,0"#% *5% J#.,0"# j5'0"#%C%Y)5F'"5,5%I)C%/'*52%:*-"%*# ,+("%?)*%=,C%?)*%=,F*-%F"5%F)'0,0"L <"-?)*%*5%*#*%<,G#%+"#%*#.,0"#%5"%<)*0*5 .*5*-%)5%0$Y'F'.%Y'#F,+%*5%Y"-I,%#"#.*5'0, ^,%<*#,-%0*%?)*%,+()5"#%+"%++*(,5%,%.*5*-^ <"-?)*% #'% 5"% #*% .'*5*% F)'0,0"L% ,=G <"0*I"#%.*5*-%<-"/+*I,#%F"I"%+"#%?)* .'*5*%J#<,E,L%?)*%.'*5*%,)."5"IG,#%?)* *#.f5% ?)*/-,0,#% C% *#"% .-,*% F"5#*^ F)*5F',#% ,+% <,G#% *5.*-"2% J5."5F*#% *+ '0*,+%*#%.*5*-%,+(g5%(-,0"%0*%,)."5"IG, Y'#F,+%<*-"%F"5%-*#<"5#,/'+'0,0%C%*#" #'(5'Y'F,%)5%("/'*-5"%?)*%#*,%*+*('0" 0*/'0,I*5.*%*5%+,%-*('B5%C%F"5%*+*FF'B5 0*+%H5.*50*5.*2 J#,%*#%I'%"<'5'B5%<*-#"5,+L%,="-, *#"%5"%#'(5'Y'F,%?)*%+,%<+,.,%?)*%(,#., +,% -*('B5% #*,% 5*F*#,-',I*5.*% +,% ?)* <)*0,%-*F,)0,-%F"5%#)%,)."5"IG,%Y'#F,+L <"-?)*%#'%.g%+*%0,#%,%+,#%-*('"5*#%*+%RQu 0*+%'I<)*#."%,%+,%-*5.,%0*%+,#%*I<-*#,# ?)*%.-,/,8,5%*5%+,%-*('B5L%?)'hf#%*#"%5" #*-G,%#)Y'F'*5.*%<,-,%,+()5,#%-*('"5*#%C .*50-G,% ?)*% =,/*-% )5% <"F"% 0* .-,5#Y*-*5F',%0*#0*%*+%<"0*-%F*5.-,+2 D"I"% <,G#% .*5*I"#% )5,% /)*5, *F"5"IG,% 0*% I*-F,0"L% )5% #'#.*I,


""#.*%1.6,$%&#"" 8)0'F',+% /,#.,5.*% -,h"5,/+*L% <*-"% #G 5*F*#'.,I"#%#"/-*%."0"%*#.,#%0"#%F"#,#L )5%#'#.*I,%*0)F,F'"5,+%If#%'5F+)#'6" C% )5% #'#.*I,% 0*% ,0I'5'#.-,F'B5 .*--'."-',+%If#%0*#F*5.-,+'h,0"2222222222

A%0;2/$B%&#23C$+2?/$%#$(#'$%+232.# '#*%02/0$ +%$ %)*'$ 0%82)*'6$ D(%$ )( 1/+%&/$2+%'&$%0'$%&$E%+%0'&6$73(=&$%) %&$)(:/< D='+*% .'*5*% )5,% .-,0'F'B5% I)C F*5.-,+'#.,%C%#"/-*%."0"%)5%Y*0*-,+'#I" F"I"%*+%0*%J#.,0"#%j5'0"#%5"%*#%YfF'+L <*-"% F-*"% ?)*% #*% <)*0*% '-% *5% *#, 0'-*FF'B5L% )5% Y*0*-,+'#I"% I'.'(,0"2 :'*5#"% ?)*% =,/-G,% ?)*% =,F*-+"2

F8=#$G(%#*%)$,'$)/)*%#2+/$D(%$(#/ +%$&/)$40/-&%1')$+%&$")*'+/$%)$D(% #/$,'$*/1'+/$%#$3(%#*'$&')$0%'&2+'+%) +%$ 3'+'$ 0%;2.#6$ 7%)*=$ +%$ '3(%0+/< ;'5%0)0,L%C%*#,%*#%+,%-,hB5%<"-%+, F),+%+,#%-*('"5*#%.'*5*5%?)*%.*5*-%)5 H5.*50*5.*%*+*('0"L%F"5%<+,.,%<-"<',L

?)*%5"%#*,%)5,%#'I<+*%.-,5#Y*-*5F',%0*+ <"0*-% F*5.-,+2% 9,#% I)5'F'<,+'0,0*# .'*5*5%*+%'I<)*#."%0*%/'*5*#%-,GF*#L <,.*5.*#%C%<"F"%If#L%*5."5F*#%,+("%0*+ 'I<)*#."%,%+,%-*5.,L%F"I"%"F)--*%*5 J#.,0"#%j5'0"#L%0*/*-G,%'-%0'-*F."%,%+, -*('B5%C%,%#)%("/'*-5"%*+*('0"222222222222

7H':$8/&(#*'+$4/&>*23'$4'0'$%)/<!!!!!!!!! J+%.*I,%0*%+,#%-*('"5*#%*5%D='+*L%+, 6*-0,0L%*#%)5%.*I,%?)*%+,%(*5.*%*I'.* *5%I)F="#%+)(,-*#%F"I)5*#2%D*-F,%0* +,#%*+*FF'"5*#%+"#%<"+G.'F"#%*I<'*h,5%, =,F*-%<-"I*#,#L%<*-"%*5%*+%Y"50"%5" =,C% <-"C*F."#% #*-'"#% C% F-*"% ?)* Y'5,+I*5.*% *+% <"0*-% '5I"6'+'h,% C% 5" ?)'*-*5%#"+.,-+"2%J#.f#%*5%;,5.',("%C 0*#F"5YG,#%0*%?)*%)5,%-*('B5%.*5(,%)5 ,FF*#"%0'-*F."%,+%'I<)*#."%,%+,%-*5., ?)*%#*%(*5*-,%*5%*++,2%:"-%*#"%F-*"%?)* +,%6*-0,0L%C%5"%?)'*-"%<-"I"6*-%If# <-".*#.,#L%+,%g5'F,%Y"-I,%*5%?)*%#*%=, +"(-,0"% ++,I,-% +,% ,.*5F'B5% *#% F"5 <-".*#.,#2

750%%$D(%$&')$0%;2/#%)$4(%+'#$&&%;'0 '$(#20)%$:$*%#%0$(#'$12)1'$8/I<!!!!!!!!! ;GL%C%*#%F)-'"#"%?)*%5"%#*%=,%<"0'0" F"5F*5.-,-% *5% +,% F+,#*% <"+G.'F,L +,I*5.,/+*I*5.*L%*+%.*I,%0*%=,F*-%)5, -*Y"-I,%0*#F*5.-,+'h,0"-,%0*%6*-0,02 :"-?)*%#'%)5"%<'*5#,L%+,#%-*('"5*#%*#.f5 #"/-*% -*<-*#*5.,0,#% *5% *+% ;*5,0"L ;,5.',("%.'*5*%#B+"%F),.-"%#*5,0"-*#2 :*-"%+"#%;*5,0"-*#%C%3'<).,0"#%0*%+,# -*('"5*#%F),50"%++*(,5%,%;,5.',("%#"5 /)*5"#%<,-,%=,F*-%0*I,50,#%F"5F-*.,#L ?)*% ?)'*-*5% )5% <)*5.*% <"-% ,FfL% )5 F,I'5"%<"-%,++fL%<*-"%5"%#*%6,5%,%+"# <-"/+*I,#%*#.-)F.)-,+*#%0*%Y"50"L%C%*#" *#% +"% ?)*% *+% <,G#% 5*F*#'.,% F,I/',-2

>A)=34<dE)c)DS)!@?3E*<A> J)*%+$ %)*=$ %#$ 3/#*'3*/$ 3/# 214/0*'#*%)$%140%)'02/)$#'32/#'&%)6 73.1/$+%)302-20>'$&'$%8'&('32.#$D(% ,'3%#$ %&&/)$ +%$ K'$ L0'(3'#>'<!!!!!!!!!

93


""#.*%1.6,$%&#"" 9,%7-,)F,5G,%*#%)5,%0*%+,#%-*('"5*# If#%'I<"-.,5.*#%0*+%<,G#L%.'*5*%*5"-I* -'?)*h,%Y"-*#.,+L%<*#?)*-,L%0*%.)-'#I"L *5%Y'5L%C%<,-,%*+%*I<-*#,-',0"%F='+*5" *#%)5,%h"5,%I)C%'I<"-.,5.*2%p"%6*" ?)*%*+%*I<-*#,-'"%0*%+,%-*('B5%.'*5* I)F=,%*5*-(G,%C%f5'I"L%+"%?)*%*c<+'F,L ,% I'% <,-*F*-L% *+% $c'."% 0*% J5*+,L% <"*8*I<+"2%p%F-*"%?)*%9,%7-,)F,5G,%<,-, ;,5.',("%*#%)5,%I*hF+,%0*%F"#,#L%*#L <"-%)5%+,0"L%/*++*h,%5,.)-,+L%-'?)*h, 5,.)-,+L%/"#?)*#L%<*#F,L%+,("#L%<*-"%<"".-"% +,0"% .,I/'$5% *#.f% *+% .*I,% 0* 6'"+*5F',%*5%"F,#'"5*#L%?)*%<-*"F)<,%C C"%F-*"%?)*%^=,F'*50"%)5%++,I,0"%,%+, F"5F'*5F',%5,F'"5,+^%$#.*%*#%)5"%0*%+"# .*I,#% <-'"-'.,-'"#% <,-,% #"+)F'"5,-2

75(=&%)$ )/#$ &')$ =0%')$ D(%$ K' L0'(3'#>'$+%-%0>'$4/*%#32'0$4'0'$)( +%)'00/&&/< X)-'#I"% 0*% ."0,#% I,5*-,#L% *+ <".*5F',+%,=G%*#%('(,5.*#F"L%*+%.)-'#I" *#%)5,%0*%+,#%'50)#.-',#%?)*%If#%F-*F* *5%*+%I)50"%C%+)(,-*#%F"5%*+%(-,0"%0* /*++*h,%5,.)-,+%F"I"%=,C%*5%*#.,%-*('B5 #"5% .-*I*50,I*5.*% *#F,#"#% *5% *+ I)50"2%J5%J)-"<,L%<"-%*8*I<+"L%."0" *+%.)-'#I"%*#.f%#,.)-,0"L%*5%)5,%F')0,0 F"I"%K*5*F',%F,#'%5"%.*%<)*0*#%I"6*<"-%+,%F,5.'0,0%0*%.)-'#.,#2%p%<"-%F'*-." *#.f5% *I<*h,50"% ,% ++*(,-% ,% J)-"<, I)F="#%F='5"#L%,#G%?)*%=,C%I'+%I'++"5*# 0*%.)-'#.,#%5)*6"#%C%<".*5F',+*#%0*%+"# F),+*#%#'%<"0*I"#%F,<.)-,-%,+("%#*-G, /)*5"L%*#"%#'(5'Y'F,%0,-+*#%6'#,L%=,F*#)%6'#'.,%*c<*0'.,L%*5%Y'52%70*If#L%*+ #*F."-%,(-"%,+'I*5.'F'"%.,I/'$5%*#%)5 .-*I*50"%<".*5F',+%C%*+%#*F."-%Y"-*#.,+ .,I/'$5%*#.f%I)C%,--,'(,0"2

K/)$ 9&*21/)$ 'M/)$ K'$ L0'(3'#>'$ ,' *%#2+/$(#'$*')'$+%$30%3212%#*/$-'?/ %&$40/1%+2/$+%&$4'>)6$74/0$D(N$30%% D(%$,'$4')'+/$%)/$:$3.1/$)%$4/+0>' 0%8%0*20< D-*"%?)*%=,C%.*I,#%0*%F"-."%<+,h" C%0*%If#%+,-("%<+,h"2%J5%*+%If#%+,-("%+" ?)*% 'I<"-.,% *#% +,% *0)F,F'B5L% +, F,<,F'.,F'B5%C%=*%*#.,0"%+*C*50"%)5 <"F"% 0*% +"% ?)*% =,% =*F=" 7-,)F,5G7<-*50*L%C%?)*%=,C,%<"0'0" I*8"-,-% +"#% -*#)+.,0"#% 0*+% ;'IF*% *# 5".,/+*L%*#%*+%.'<"%0*%F"#,#%?)*%=,C%?)* =,F*-2%:"-%".-"%+,0"L%F-*"%?)*%+,%Y,F*., If#%6'"+*5.,%0*+%<-"/+*I,%I,<)F=* <-"0)F*% '5#*()-'0,0% 8)-G0'F,% C 0*#'5F*5.'6,%+,%'56*-#'B5L%<"-%+"%F),+ *#,%*#%)5,%.,-*,%<-'"-'.,-',2

7H'-0=$(#'$0%&'32.#$+20%3*'$%#*0%$%)' 82/&%#32'$:$&'$4/3'$2#8%0)2.#<!!!!!!!!!!!!!

9;

!O$(+$2./$(-P)(3*'8.%/$(&.8 0,'68.-$(-$0#25.(0,'&#2. *%).=#,*&$&(J#,7&*2$(1 &.)*%2.%/*3$(8$(*%3.,)*G%@(0', 8'(2#$8(.)$(.)(#%$(/$,.$ $6)'8#/$-.%/.(0,*',*/$,*$?I &'-,L%.*%6"C%,%0,-%)5%*8*I<+"%I)C F"5F-*."2% &'% *I<-*#,% #*% 0*0'F,% ,% +, /,5F,% 0*% '56*-#'"5*#% C% .*5*I"#% 0"# Y"50"#% Y"-*#.,+*#% *5% 5)*#.-,% /,5F,L /f#'F,I*5.*% *5% '56*-#'"5'#.,# *c.-,58*-"#% C% F='+*5"#% ?)*% F"I<-,5 /"#?)*#%C%0*%,=G%6*50*5%+,%I,0*-,%, +,#%(-,50*#%*I<-*#,#2%J#%I)C%5,.)-,+ <,-,%*+%I*-F,0"%Y'5,5F'*-"%'56*-.'-%*5 /"#?)*#% ^#"/-*% ."0"% <,-,% Y"50"#% 0* <*5#'"5*#L% <"-?)*% +"#% /"#?)*#% #"5 <*5#'"5*#% ,% +,-("% <+,h"^L% C% 5"#".-"# =*I"#%?)*-'0"%C%=*I"#%.*5'0"%I)F=" '5.*-$#%*5%=,F*-%Y"50"#%Y"-*#.,+*#%0* *#*% .'<"% *5% F""<*-,F'B5% F"5% +"# I,<)F=*#L%F"I"%=,F*%+,%Y,I'+',%6"5 7<<*5L% <*-"% *+% <-"/+*I,% <,-,% )5 '56*-#'"5'#.,%'5#.'.)F'"5,+L%C%+"%=*I"# 6'#."%F"5%*+%4,5F"%H5.*-,I*-'F,5"%0* 3*#,--"++"L%F"5%*+%4,5F"%&)50',+L%*# *5F"5.-,-% )5,% F"5.-,<,-.*% ?)*% <,#* ."0,#% +,#% <-)*/,#% ?)*% -*?)'*-*% )5 '56*-#'"5'#.,%?)*%*#.f%I,5*8,50"%+,# <*5#'"5*#%0*%+"#%.-,/,8,0"-*#2%p%*#"%=, #'0"%0'YGF'+L%<"-?)*%#'%.g%F-**#%?)*%=,C <*+'(-"%0*%?)*%<)*0,#%<*-0*-%*+%/"#?)* <"-%)5%,F."%6'"+*5.'#.,L%#*%0*#,5'I,%*+ '56*-#'"5'#.,%0*%*#*%.'<"2

7O(N$)%$4/+0>'$,'3%0$4'0'$D(%$%)*/ #/$/3(00'< J+% ("/'*-5"% <"0-G,% <"5*-% )5, *#<*F'*%0*%(,-,5.G,2

7P%3&'0'0$'$K'$L0'(3'#>'$3/1/$I/#' %Q*0%1'6$4/0$%?%14&/< ;GL%F+,-"2

75(=&$)%0>'$)($3/#)%?/$4'0'$'(1%#*'0 &'$;%#%0'32.#$+%$%14&%/)< 9"%?)*%=,%Y)5F'"5,0"%I)C%/'*5%*5 Y"-I,%(*5*-,+%5,F'"5,+%*#%*+%#)/#'0'"%,+ *I<+*"% ?)*% '5.-"0)8"% *+% *c% &'5'#.-" K*+,#F"%<,-,%*+%*I<+*"%8)6*5'+2%;'%*5 ,+("% #*% 8)#.'Y'F,% *+% #)/#'0'"% *#% *5% *+ *I<+*"L%C%F-*"%?)*%#*%<"0-G,%=,F*-%,+(" *5%*#,%0'-*FF'B5L%*5%F"58)5."%F"5%)5 (-,5%<-"(-,I,%0*%F,<,F'.,F'B5L%<"-?)* 6*"% ?)*% )5"% 0*% +"#% <-"/+*I,#% *5% +, -*('B5%*#%+,%Y,+.,%0*%F,<,F'.,F'B5%C%+, /,8,%<-"0)F.'6'0,0%0*%+,%(*5.*222222222222

*=<D<D)3S=@!3A 75.1/$8%$&'$302)2)$+%$"(0/4'6$4(%+% 'E%3*'0$'$5,2&%< D-*"% ?)*% #GL% +,% F-'#'#% ?)*% =,C% *5 J)-"<,%=,%0)-,0"%I)F="%If#%0*%+" *#<*-,0"%C%5"%*#.f%.,5%F+,-"%?)*%=,C, +,% 6"+)5.,0% 5'% *+% +'0*-,h("% <,-, #"+)F'"5,-+,2%:,-*F*%?)*%6,%<,-,%+,-(" C%I,+%?)*%I,+%*#%)5,%h"5,%*F"5BI'F, .-*I*50,I*5.*%'I<"-.,5.*%C%5,0'*%#* <)*0*% 0*#,F"<+,-% 0*% +"% ?)*% <,#,% *5 J)-"<,L%#"/-*%."0"%.,I/'$5%<"-?)*%+, -*F)<*-,F'B5%*5%J#.,0"#%j5'0"#%#*%=, *#.,5F,0"%C%=,C%#*E,+*#%0*%?)*%D='5, #*%*#.f%0*#,F*+*-,50"%?)'hf#%,g5%If# 0*% +"% ?)*% +,% (*5.*% F-**2% U,5% #,+'0" ,-.GF)+"#%0*%?)*%+,#%F'Y-,#%F='5,#%<"0-G,5 #*-%<*"-*#%0*%+,#%?)*%F-**I"#L%*5%<,-.* <"-?)*%*#%)5%<,G#%I)C%,)."-'.,-'"%C%+,# -*('"5*#%=,5%*#.,0"%*5.-*(,50"%F'Y-,# I*8"-*#%?)*%+,#%-*,+*#%<"-%#)#."%"%I'*0" 0*%?)*%+"#%-*.*5%"%+"#%*F=*52 U,C%)5%'56*5.,-'"%0*%F,-/B5L%<"*8*I<+"L%C%#."Fm#%I)C%,+."#%*5%D='5,L ?)*% #'(5'Y'F,5% -*0)FF'B5% *5% +, (*5*-,F'B5%0*%*5*-(G,%*+$F.-'F,L%C%*#" *#%)5%<,-fI*.-"%/,#.,5.*%0*F'0"-%0*%+, ,F.'6'0,0%*F"5BI'F,%F='+*5,2%:"-%".-" +,0"L%+"#%F='5"#%<,-,%#,+'-%0*%+,%F-'#'#%0* PQQN%#*%*5Y"F,-"5%*5%=,F*-%)5%*5"-I* <+,5%0*%'56*-#'B5L%++*(,-"5%,%'56*-.'F,#'%*+%\Qu%0*+%:H4%C%*#"%<,-,%*+%F"/-* *-,%*#<*F.,F)+,-L%<*-"%,="-,%*+%'I<)+#" ,%+,%'56*-#'B5%*5%+,%'5Y-,*#.-)F.)-,%*#.f )5% <"F"% 0'#I'5)'0"L% <"-?)*% =,C% )5 +GI'.*% 0*% F)f5."#% <-"C*F."#% <)*0*5 =,F*-%*5%)5%.'*I<"%.,5%F"-."L%<"-%+" F),+%,="-,%#*%*#.f%Y"I*5.,50"%If#%*+ F"5#)I"% C% *#"% *#% I)C% /)*5"% <,-, F"II"0'.'*#% F"I"% *+% I,GhL% <*-"% 5" <,-,%*+%F"/-*L%*5."5F*#%.,-0*%"%.*I<-,5" *#."%6,%,%++*(,-2%U"C%0G,%*+%F"/-*%*#.f%, )5% PQu% I*5"#% 0*% +"% ?)*% *#.,/,% , F"I'*5h"#%0*+%,E"2

7")*/$%#$D(N$'E%3*'0>'$'&$32(+'+'#/ 3/19#< :)*0*%=,/*-%)5,%0*#,F*+*-,F'B5%0* +,#%*c<"-.,F'"5*#%F='+*5,#%C%*#"%<)*0* .*5*-% -*<*-F)#'B5% *5% *+% *I<+*"2% J5 *#."#% I"I*5."#% If#% /'*5% =,C% )5, F"I<*.*5F',% <"-% I,5"% 0*% "/-,% C% +, I'5*-G,%#*%*#.f%++*6,50"%I)F=,%I,5" 0*% "/-,% 0*% ".-"#% #*F."-*#L% *#"% =, <-*#'"5,0"%,+%,+h,%+"#%#,+,-'"#%-*,+*#L%C F-*"%?)*%*#"%#*%<)*0*%-*6*-.'-L%+"%?)* #'(5'Y'F,-G,%I*5"#%<"0*-%0*%F"I<-,222222


""#%.4&$#""

*+(,3)00#.+5 40$(&'#0&%5%.6'#"/0/ 50.0&(7&/(*0..%77% S%)?@A?)%(/$0)#():"'7"'(/$0%)7('()&#)<&.(''"##")T'">2/5$J")>&)!(##&/",)B2&)+(I")&#)(#&'")>& :"'7('(2/(%3()6)&#)(7"6")>&)V&'/"5&/,)1(5&'$(#$L()&#).2&W")>&)>$J&'.".)(/5"'&.)7'"J$%/$(#&.)B2& ()5'(JU.)>&)2%)5'(+(I")7X+#$/"Y7'$J(>",)&.7&'(%)/"%/'&5(')7'"6&/5".)>&)$17(/5")B2&)J(6(%)&% +&%&C$/$") >&) 2%() 7'"J$%/$() B2&) /2&%5() /"%) 5">") &#) 7"5&%/$(#) 7('() /'&/&'FFFFFFFFFFFFFFFF

$

)5?)*%+,%<-"6'5F',%0* &,++*F"%<"#**%*5"-I*# F),+'0,0*#% C% 6*5.,8,# F"I<,-,.'6,#L%I)F=,# 6*F*#%=,%#'0"%<*-F'/'0, F"I"% +,% n=*-I,5, I*5"-oL% C% n<"/-*oL% 0*% D,).G52% @" "/#.,5.*L%0*#0*%=,F*%,+(g5%.'*I<"L%C, #*,%<"-%'5'F',.'6,#%<g/+'F,#%"%<-'6,0,#L &,++*F"%=,%*#.,0"%-*5,F'*50"L%#"/-* ."0"%0*#<)$#%0*+%.*--*I"."%0*%Y*/-*-" 0*% PQRQL% (-,F',#% ,% )5% F-*F'*5.* I"6'I'*5."%F"I*-F',+L%,(-GF"+,%C%.)-G#^ .'F"2 7% *#.,% ,F.'6'0,0% #*% #)I,% *+ 5,F'I'*5."%0*%+,%D"-<"-,F'B5%<,-,%*+ 3*#,--"++"% :-"0)F.'6"% 0*% &,++*F"L D"-<I,++*F"L%?)*%*5%PQRPL%C%0*#<)$# 0*%6,-'"#%,E"#%0*%*#<*-,L%<)0"%F"5F-*.,#)% F-*,F'B5% (-,F',#% ,% +,% (*#.'B5% 0*

97

D"-<,-,)F,5G,%C%*+%,<"C"%0*+%A"/'*-5" 1*('"5,+L%,%.-,6$#%0*%;*-F".*F22222222222 ;*%.-,.,%0*%)5,%F"-<"-,F'B5%I)C #'I'+,-% ,% $#.,L% ?)*% Y"I*5.,-f% +, ,-.'F)+,F'B5% F"5% ."0"#% +"#% ,F."-*# -*+*6,5.*#2% nJ#<*-,I"#% ?)*% D"-<^ I,++*F"%<-"I)*6,%)5%I,C"-%5'6*+%0* 0*#,--"++"%<-"0)F.'6"%0*%*#.,%<-"6'5F',L C%?)*%,<"C*%C%<,-.'F'<*L%*5%F"58)5." F"5% *+% #*F."-% <g/+'F"% C% <-'6,0"L% *5 '5'F',.'6,#%?)*%,<)5.*5%,%*#.*%<-"<B#'."L <"-?)*% #,/*I"#% ?)*% *+% ,6,5F*% 0* &,++*F"%5"%#B+"%*#%'I<"-.,5.*%<,-,%*+ 0*#,--"++"% 0*% 9,% 7-,)F,5G,L% #'5" .,I/'$5% <,-,% +,% 0*#F*5.-,+'h,F'B5 -*('"5,+L%,+("%*5%+"%?)*%#'*I<-*%=*I"# <)*#."%='5F,<'$oL%*5Y,.'h,%!"#$%&'()*+ &,-.,/'0L%:-*#'0*5.*%0*%D"-<,-,)F,5G,2 nv#.,%*-,%)5,%F"-<"-,F'B5%?)*%#* 5*F*#'.,/,%*5%+,%<-"6'5F',%0*%&,++*F"L

?)*% 0*% ,% <"F"% =,% '0"% .*5'*50"% )5 <-"(-*#"%?)*%#*%-*Y+*8,%*5%*+%f-*,%0*%+,# Y-).,#L%.)-'#I"%*%'50)#.-',#2%p%0*#0* ,Ff%=*I"#%*#.,0"%"/#*-6,50"%+"%?)* #)F*0*%F"5%D"-<,-,)F,5G,L%?)*%*#%+, 'I,(*5%If#%<-Bc'I,%?)*%.*5*I"#%0* )5,%F"-<"-,F'B5%0*%*#.,%5,.)-,+*h,L%C 0,0"%,+%0*#,--"++"%?)*%=,%.*5'0"%F-**I"# ?)*L% F"5% +,#% 0*/'0,#% <-"<"-F'"5*#L 5"#".-"#% *+% 0G,% 0*% I,E,5,% <"0*I"# ,+F,5h,-% ,+("% ,#GoL% #"#.'*5*% :,.-'F'" H.)--'*.,L% :-*#'0*5.*% 0*+% 3'-*F."-'" :-"6'#"-'"%0*%D"-<I,++*F"2

!=<C3=@D)!AD@D ;'% /'*5% +,% F-*,F'B5% 0*% )5, F"-<"-,F'B5%0*%0*#,--"++"%<,-,%&,++*F" *-,%)5%,5=*+"%0*%=,F*%6,-'"#%,E"#L%Y)* *#.*% PQRP% F),50"% F"I*5h,-"5% +,# ,FF'"5*#% <,-,% +"(-,-% *#.*% "/8*.'6"L% ,


""#%.4&$#""

!A.-')(.)/$&'('6).,3$%&'(8' 4#.()#2.&.(2'%("',0$,$#2$%7$@ 4#.(.)(8$(*-$=.%(-P)(0,GQ*-$ 4#.(/.%.-')(&.(#%$(2',0',$2*G% &.(.)/$(%$/#,$8.R$@(1(&$&'($8 &.)$,,'88'(4#.(5$(/.%*&'@ 2,..-')(4#.(C2'%(8$)(&.6*&$) 0,'0',2*'%.)C(%')'/,')(.8(&7$ &.(-$S$%$(0'&.-')($82$%R$, $8='($)7?@(E$/,*2*'(T/#,,*./$@ E,.)*&.%/.(&.8(U*,.2/',*' E,'3*)',*'(&.("',0-$88.2'I <,-.'-%0*%+,%'5'F',.'6,%0*%)5%(-)<"%0* *I<-*#,-'"#% +"F,+*#% ?)*% 'I<)+#B% , D"-<,-,)F,5G,%,%<"#.)+,-%,%)5%Y"50" 0*%Y"-.,+*F'I'*5."%(-*I',+%0*%;*-F".*F2 b)*-"5%If#%0*%F'5F"%.,++*-*#L%*5.-* ".-,#%'5'F',.'6,#L%?)*%0*#0*%*5*-"%0* PQRP% #*% F"I*5h,-"5% ,% -*,+'h,<+,5'Y'F,50"% *+% 5,F'I'*5."% 0*% *#., F"-<"-,F'B5%<g/+'F"^<'6,0,L%C%*5%+,#%?)* <,-.'F'<,-"5%*I<-*#,-'"#L%,F,0$I'F"# C%,(-'F)+."-*#2%3*%*#.*%I"0"L%*5%*+%I*# 0*% 8)+'"% #*% -*,+'hB% +,% 7#,I/+*, D"5#.'.)C*5.*%C%#*%0'"%'5'F'"%,%D"-<^ I,++*F"%*5%Y"-I,%+*(,+L%'5#F-'/'$50"#* If#%0*%.-*'5.,%#"F'"#%C%*+'('$50"#*%,+ 3'-*F."-'"%:-"6'#"-'"%[6*-%-*F),0-"_2 X-,#%*++"L%*+%+,5h,I'*5."%"Y'F',+%,%+, F"I)5'0,0%#*%++*6B%,%F,/"%*5%,("#."L I*0',5.*% )5% *c'."#"% #*I'5,-'"% ?)* F"56"FB%,%If#%0*%F'*5%<*-#"5,#%*5%*+ D*5.-"%D)+.)-,+%0*%75("+%C%?)*%F"5.B F"5%0*#.,F,0"#%<,5*+'#.,#%F"I"%&,-F"# 3*+)FF='L%A*-*5.*%0*%+,%D"-<"-,F'B5 H50)#.-',+%<,-,%*+%3*#,--"++"%1*('"5,+L D'0*-*L%4G"%4G"i%!"#$%75."5'"%A,+'+*,L *c%&'5'#.-"%0*%7(-'F)+.)-,i%C%&,.=G,# k+".hL% 7-?)'.*F."% C% 3*F,5"% 0*% +,

:7X1HDHS%HXj11HJX7

D71&J@%A9S1H7%717KJ@7

b,F)+.,0%0*%7-?)'.*F.)-,L%7-.*%C%3'#*E" 0*% +,% j5'6*-#'0,0% 3'*("% :"-.,+*#2

'5#.'.)F'"5*#L% ?)*% Y"I*5.,5% +, ,#"F',.'6'0,0L%,%.-,6$#%0*+%:-"(-,I,%0* b"-.,+*F'I'*5."%A-*I',+L%<"-?)*%F-** Y'-I*I*5.*%?)*%*#%I)F="%If#%YfF'+ +"(-,-%)5%,6,5F*%*5%/,#*%,%+,%)5'B5L ?)*%*5%Y"-I,%'50'6'0),+L%C%If#%,g5%#' #*%.-,.,%0*%)5,%,#"F',.'6'0,0%<g/+'F" <-'6,0,L%F"I"%+"%*#%D"-<I,++*F"222222222222

3*%,=G%*5%If#L%+,%F"-<"-,F'B5%=, *#.,0"%*5%<-"F*#"%0*%'5#.,+,F'B5%Y"-I,+2 J5%*+%fI/'."%+*(,+%F"5%+,%"/.*5F'B5%0* <*-#"5,+'0,0%8)-G0'F,%*%'5'F',F'B5%0* ,F.'6'0,0*#i% C% ,% 5'6*+% '5#.'.)F'"5,+L F"5Y"-I,50"% #)% *?)'<"% 0*% .-,/,8"L *Y*F.),50"%+,#%<-'I*-,#%-*)5'"5*#%0* 0'-*F."-'"%C%,5,+'h,50"%F)f+*#%#*-f5%+,# +G5*,#%0*%,FF'B52 nU,% #'0"% I)C% '5.*-*#,5.*% C *5-'?)*F*0"-% <"0*-% .-,#<,#,-% +, *c<*-'*5F',% ?)*% .*5*I"#% F"I" F"-<"-,F'B5% 0*% 0*#,--"++"% -*('"5,+L ,F"I<,Ef50"+"#%0)-,5.*%F,#'%)5%,E"L 0*#0*%?)*%='F'I"#%*+%<-'I*-%#*I'5,-'"L C% F"56"F,50"% ,% ."0"#% +"#% ,F."-*#% 0* &,++*F"2% 7F.),+I*5.*L% C,% .'*5*% #) <*-#"5,+'0,0%8)-G0'F,%C%#*%=,%#*+*FF'"^ 5,0"%,+%A*-*5.*L%*+'('$50"#*%,+%H5(*5'*-" D'6'+%H50)#.-',+L%1"0-'("%&"+'5,%;f*hL *5.-*%If#%0*%F'5F)*5.,%<"#.)+,5.*#oL 0*#F-'/*%3'*("%4*5,6*5.*2

A!@c@)!eP><*@)c)!=<HA1@ D,-I*5%A+"-',%7-,6*5,L%3'-*F."-, 1*('"5,+%0*%;*-F".*FL%F)*5.,%?)*%)5, 0*%+,#%<-*"F)<,F'"5*#%0*%*#.*%("/'*-5" Y)*%,<"C,-%+,%(*#.,F'B5%0*%*#.*%.'<"%0*

nU,C% I)F="#% +'/-"#L% I)F="# *8*I<+"#%*5%*+%I)50"L%?)*%I)*#.-,5 *+% $c'."% F),50"% +,#% F"I)5'0,0*# "-(,5'h,0,#% +"(-,5% ,<"-.,-% #)% 6'#'B5 .-,/,8,50"%*5%F"58)5."%F"5%*+%("/'*-5"L <"-?)*% 5"#".-"#% =,F*I"#% <"+G.'F,# <g/+'F,#% <*-"% 5"% 6'6'I"#% ,=GL% <"-% +" .,5."%+"#%?)*%.'*5*5%+,%I,C"-%#,/'0)-G, <,-,%#,/*-%+"%?)*%I*8"-%F"56'*5*%*5 '56*-#'"5*#L%*5%'5Y-,*#.-)F.)-,#L%5"-I,^ .'6,#L%<"+G.'F,#L%*.Fi%*#%<-'5F'<,+I*5.* +,%(*5.*%"-(,5'h,0,%*5%)5,%F"I)5'0,0oL "<'5,2 7+("% *5% +"% ?)*% F"5F)*-0,% b-*0C 1"8,#L%A*-*5.*%0*%H56*-#'"5*#%7(-GF"+, 4)*5"#% 7'-*#L% ?)'*5% #"#.'*5*% ?)*% *+ 6,+"-%0*%D"-<I,++*F"%-,0'F,%*5%#)%-"+ 6'5F)+,0"-%C%*5%+,%6"+)5.,0%0*%#)%(*5.*2 nj5,%F"-<"-,F'B5%F"I"%D"-<I,++*F"L *#%)5,%=*--,I'*5.,%0*%0*#,--"++"L%)5, 5)*6,%"<"-.)5'0,0%?)*%#*%5"#%<-*#*5., <,-,% /)#F,-% 5)*6"#% ="-'h"5.*#% ?)*

:.218C92.9 X-,#%+,%7#,I/+*,%D"5#.'.)C*5.*%#*%*+'('B%,+%3'-*F."-'"%:-"6'#"-'"L%F)C,%&*#,%3'-*F.'6,%*#.f%Y"-I,0,%<"-Z%:,.-'F'" H.)--'*.,L%:-*#'0*5.*%[DfI,-,%0*%D"I*-F'"%0*%75("+_i%:,/+"%4*5,6'0*#L%K'F*<-*#'0*5.*%[DfI,-,%0*%D"I*-F'"%0* K'F."-',_i%1"0-'("%:,-,5.L%X*#"-*-"L%[b"-*#.,+%9,%D,/,E,_i%C%@'5"#Fm,%w*5F"6'F=L%;*F-*.,-',%[j5,<%;*0*%K'F."-',_2 J5%.,5."L%F"I"%3'-*F."-*#%X'.)+,-*#%?)*0,-"5Z%D,-+"#%H#,,F#L%;*-*I'%0*%JF"5"IG,i%D,-I*5%A+"-',%7-,6*5,L%3'-*F."-, 1*('"5,+%0*%;*-F".*Fi%A)#.,6"%k,)#*+L%D"5#*8*-"%1*('"5,+i%!"-(*%b*-5f50*hL%D"5#*8*-"%1*('"5,+i%A*55C%b)+(*-'L DfI,-,%0*%X)-'#I"%0*%9)I,F"i%b-*00C%1"8,#L%H56*-#'"5*#%7(-GF"+,%4)*5"#%7'-*#%0*%75("+i%A*-,-0"%D*-0,L%b"-*#.,+ D*-0,i%C%D-'#.',5%;,+0'6',L%7(-'I,2

98


""#%.4&$#""

!:(%')'/,')(5$2.-')(0'87/*2$) 0<68*2$)(0.,'(%'(3*3*-')($57@ 0',(8'(/$%/'(8')(4#.(/*.%.%(8$ -$1',()$6*&#,7$(0$,$()$6.,(8' 4#.(-.J',(2'%3*.%.(.% *%3.,)*'%.)@(.%(*%+,$.)/,#2/#,$)@ %',-$/*3$)@(0'87/*2$)@(./2I@(.) 0,*%2*0$8-.%/.(8$(=.%/. ',=$%*R$&$(.%(#%$(2'-#%*&$&?@ "$,-.%(H8',*$(K,$3.%$@ U*,.2/',$(V.=*'%$8(&.(W.,2'/.2I

7#,I/+*,%D"5#.'.)C*5.*%0*%D"-<I,++*F"2 'I<)+#*5%*+%0*#,--"++"2%J#.,%F"-<"-,F'B5 0*/*%#*-%6,+"-,0,%F"I"%)5%*#Y)*-h"%0* #)% (*5.*% <,-,% <".*5F',-% #)% <-"<'" *5."-5"L% #'*50"% )5,% "-(,5'h,F'B5 <g/+'F"^<-'6,0,%?)*%/)#F,%F"I<,-.'*#Y)*-h"#%.-,#%)5%"/8*.'6"%*5%F"Ig5L <"-%+"%?)*%"8,+f%#*,%<*-F'/'0,%F"I"%.,+oL ,<"-.,2 1*Y'-'$50"#*%,+%#*F."-%*I<-*#,-',+L :,.-'F'"%H.)--'*.,L%*5%.,5."L%F-**%?)* D"-<I,++*F"%#'5%0)0,%#*-f%0*%/*5*Y'F'"2 n9,%F"-<"-,F'B5%6,%,%.*5*-%)5,%+,/"Y)50,I*5.,+% 0*% F""<*-,F'B5L% 0* '50)FF'B5L%0*%,<"C"%,%."0"%*+%*I<-*^ #,-',0"L%+"#%(-,50*#%F"5(+"I*-,0"#%0* ,(-)<,F'"5*#%0*%*I<-*#,-'"#%#'*I<-* #"5% I)C% /*5*Y'F'"#"#% <,-,% ."0"#% +"# '56"+)F-,0"#L%<"-%F),5."%*#%)5,%6"h 'I<"-.,5.*%,%5'6*+%<-"6'5F',+%C%*#"%+* 0,%<'#"%,%."0"%fI/'."%0*%F"#,#L%C,%#*, *5%+,%'5.*-,FF'B5%F"5%+,#%,)."-'0,0*# 0*%-'("-%"%*5%+,%'5.*-,FF'B5%F"5%F"5(+"^ I*-,0"#%0*%".-"#%+)(,-*#oL%F-**22222222222222

=3:3=3E?3)!=@H<E*<A> ;'% /'*5% D"-<I,++*F"% *#.f% -*F'$5 *I<*h,50"%C%#)#%+G5*,#%0*%,FF'B5%*#.f5 *5% *.,<,% 0*% <+,5'Y'F,F'B5L% +"#% .-*# F"5F)*-0,5%*5%?)*%D"-<I,++*F"%#*%0*/* .-,5#Y"-I,-% *5% )5% -*Y*-*5.*% ,% 5'6*+ <-"6'5F',+L% ?)*% F"+"?)*% .*I,#% *5% +, I*#,L% ?)*% ,.-,'(,% '56*-#'"5*#% C% ?)*

<:

.,I/'$5%,<"-.*%,%#)%'0*5.'0,0L%Y"-.,^ +*F'*50"% +"#% +'0*-,h("#% <-"0)F.'6"# *c'#.*5.*#L%F"I"%*+%,(-GF"+,L%Y"-*#.,+%C .)-G#.'F"2

.'*5*% )5% F+'I,% *c.-,"-0'5,-'"L% ,(-"^ *F"+B('F,I*5.*%I)C%#)<*-'"-%,+%#*F."#)-% 0*% +,% 5"6*5,% -*('B5% C% #*% *#.f5 =,F'*50"%'56*-#'"5*#%'I<"-.,5.*#oL%0'F*2

:,.-'F'"% H.)--'*.,L% #*E,+,% ?)*% *+ .-,/,8"%0*%D"-<I,++*F"%0*/'*-,%,<)5.,,%Y"-.,+*F*-%+,#%f-*,#%0*%0*#,--"++"%?)* 5"%+"%*#.f5L%C%*5%+"%?)*%C,%#*%*#.f%If# ,6,5h,0"L%F"5.-'/)'-%0*#0*%+,%'55"6,^ F'B52%nK*I"#%.-*#%f-*,#%Y)*-.*#Z%X)-'#I"L ,(-"'50)#.-',% C% *+% .*I,% Y"-*#.,+L% C F),+?)'*-%'55"6,F'B5%.*F5"+B('F,%?)* <"0,I"#%,<"-.,-%F"I"%F"-<"-,F'B5%6, ,% #*-% 0*% I)F=G#'I,% 'I<"-.,5F',L .,I/'$5%*5%*+%.*I,%0*%+,%*0)F,F'B5L%, .-,6$#%0*%+,%F,<,F'.,F'B5%0*%.-,/,8,0"-*#L '5#.-)FF'B5%*5%F"+*('"#%.$F5'F"#%C%*5%+" ?)*% <"0,I"#% ,<"-.,-% (-,5% <,-.*% 0* 5)*#.-"#%*#Y)*-h"#oL%0*#.,F,222222222222222

:"-%*+%I"I*5."L%+"#%0*#,YG"#%,%F"-." <+,h"%,<)5.,5%<-'I*-"%,%.*-I'5,-%+, '5#.,+,F'B5% Y"-I,+% 0*% +,% F"-<"-,F'B5 ^.*I,#%.-'/).,-'"#L%I"5.,-%+,%"Y'F'5,L '5'F',-%+"#%.-,/,8"#%F"5%+,%(*-*5F',^L%C *5% #*()50"% .$-I'5"% '5'F',-% )5 +*6,5.,I'*5."%*#.,0G#.'F"%0*%+"%?)*%#* 5*F*#'.,%C%+"%?)*%#*%.'*5*%*5%+,%<-"6'5F',L <,-,%,#G%,5,+'h,-%=,F',%0B50*%0*/*5 0'-'('-#*%+,#%<-'I*-,#%,FF'"5*#22222222222

:"-%#)%<,-.*L%D,-I*5%A+"-',%7-,6*5, F-**%?)*%=,C%*5"-I*#%0*#,YG"#%*5%*+ .*I,%F"I*-F',+%C%0*%#*-6'F'"#2%n75("+%C ".-,#%F"I)5,#%0*%+,%<-"6'5F',%.'*5*5 )5%.-*I*50"%<".*5F',+%0*%0*#,--"++"L <"-?)*%.'*5*5%I)F="%<)*/+"%F='F"%?)* -*?)'*-*%0*%#*-6'F'"#%C%0*%F"I*-F'"L%,#G ?)*%.'*5*5%?)*%=,F*-%)5%*#Y)*-h"%<"(,5,-+*%,%X*I)F"%C%0*#,--"++,-%#*-6'F'"# 0*% F,+'0,0L% +"% ?)*% Y'5,+I*5.*% 6,% , #'(5'Y'F,-% If#% *I<+*"% C% I*5"# I'(-,F'B5%,%F')0,0*#%F"I"%X*I)F"L :)FB5%"%K'++,--'F,2%70*If#L%&,++*F"

n&,++*F"% #*% I)*#.-,% ,+% I)50" <-'5F'<,+I*5.*%,%.-,6$#%0*%#)#%<-"0)F."# 5,.)-,+*#L%0*-'6,0"#%0*%#)#%/"#?)*#L <-"0)F."#%,(-"^Y-).GF"+,#%C%*+%.)-'#I"i #'5%*I/,-("L%/'*5%<)0'*-,%'-%,I<+',50" +,%"Y*-.,%,/-'*50"%Ig+.'<+*#%6*5.,5,#2 J5%#)#%/,#*#%0*%F-*,F'B5%D"-<I,++*F" .'*5*% <+,5.*,0"% F"I"% *#.-,.*(',% *+ 0*#,--"++"% (+"/,+% 0*% +,% <-"6'5F',L% *5 0"50*%+,%'5.*(-,F'B5%*#%*+%(-,5%*8*%0* #)% $c'."L% <"-% +"% ?)*% 6*I"#% *5% *#., F"-<"-,F'B5%)5%F,5,+%0*%<,-.'F'<,F'B5 <,-,%'-%*#.)0',50"%C%0*#,--"++,50"%)5 *5."-5"% ?)*% "Y-*hF,% ,+.*-5,.'6,#% 0* F-*F'I'*5."L% 0"50*% +,#% 6"+)5.,0*# <g/+'F,#%C%<-'6,0,#%.'*5*5%I)F="%?)* 0*F'-oL% F"5F+)C*% b-*0C% 1"8,#222222222


""#4,1&+&$#""

+D-)EAF%=A%>*%&'<;A)F<=*=%8*EG><H*%=A%CAIJH*%K*%+)*JH*'L* K8*,'(XG,4#.R V.2/', L%*3.,)*&$&("$/G8*2$(&.(>.-#2' 9,%j5'6*-#'0,0%D,.B+'F,%0*%X*I)F" Y)*%+,%<-'I*-,%'5#.'.)F'B5%0*%*0)F,F'B5 #)<*-'"-%0*%*#.,%-*('B52%@,F'0,%*+%,E" Rr\r% -*,+'h,% #)% <-'I*-,% (-,5 F"5.-'/)F'B5%,%+,%F')0,0L%,%+,%-*('B5%C ,%+,%h"5,%#)-%0*+%<,G#L%Y"-I,50"%<"6,-',#%0$F,0,#%)5,%6*-0,0*-,%+*('B5%0* -*F"5"F'0"#%<-"Y*#"-*#L%<-*#*5.*#%="C *5% <-fF.'F,I*5.*% ."0"#% +"#% *#.,^ /+*F'I'*5."#%*0)F,F'"5,+*#%0*+%#)-%0*+ <,G#222222222222222 70*If#%0*%+,%*0)F,F'B5L%+,%)5'6*-^ #'0,0% F)*5.,% ="C% F"5% )5% 0*#,--"++" 0'#F'<+'5,-'"%C%Y"-I,F'B5%<-"Y*#'"5,+%*5 ".-,#%.,5.,#%f-*,#%0*+%#,/*-L%F"I"%+"%#"5 +,#% D'*5F',#% ;"F',+*#L% +,#% D'*5F',# !)-G0'F,#L%+,#%D'*5F',#%0*%+,%;,+)0L%+,# D'*5F',#%-*+,F'"5,0,#%F"5%+"#%1*F)-#"# @,.)-,+*#L%+,#%H5(*5'*-G,#L%+,%X*"+"(G,2 &f#%,++f%0*%+,%Y"-I,F'B5%F+f#'F,%0* <-*(-,0"%?)*%"."-(,I"#%*5%5)*#.-,#%`N F,--*-,#L%=*I"#%-*#)*+."%"Y-*F*-%)5, "<"-.)5'0,0%0*%*#.)0'"#%,%8B6*5*#%F"5 F,<,F'0,0*#% <,-,% *#.)0',-% F,--*-,# .$F5'F,#% F"I"% )5,% "<F'B5% #*-',% 0* Y"-I,F'B5%.$F5'F,%)5'6*-#'.,-',22222222 J+%,E"%PQRP%+,%0*I,50,%<"-%F,--*-,# .$F5'F,#%F-*F'B%)5%RWu%C%0)<+'FB%+,%0*+ ,E"% PQRR2% ;*(g5% <-"C*FF'"5*#% 0*% +, ;"Y"Y,L%<,-,%+"#%<-Bc'I"#%.-*#%,E"#%*+ <,G#%5*F*#'.,-f%\QQ%I'+%.$F5'F"#%C%#B+" RQQ%I'+%)5'6*-#'.,-'"#2%3,0"%+"%,5.*-'"-L +,%I*.,%0*+%("/'*-5"%*#%?)*%,+%PQR\L%*+ ]Qu%0*%+"#%.'.)+,0"#%#*,5%.$F5'F"#2%3* ,++G% ?)*% #*% =,C,% '5F-*I*5.,0"% +, F"/*-.)-,%C%+"#%I"5."#%0*%+,#%/*F,#%<,-, ,+)I5"#%?)*%"<.*5%<"-%*#.)0',-%*#.* .'<"% 0*% F,--*-,#2% 9"#% 8B6*5*#% C% #)# Y,I'+',#%*#.f5%"<.,50"%<"-%F,--*-,#%If# F"-.,#L%Y+*c'/+*#L%I*5"#%F"#."#,#%C%?)* +*#%<*-I'.,5%'5#*-.,-#*%+"%,5.*#%<"#'/+* *5%*+%I)50"%+,/"-,+2 J5% *+% I'#I"% #*5.'0"% 0*% "Y-*F*5)*6,#%"<"-.)5'0,0*#%,%8B6*5*#%0*%+, -*('B5L%*+%:-"(-,I,%:-"<*0$).'F"%.'*5* F"I"%<-"<B#'."%F"5.-'/)'-%,%)5,%I,C"'(),+0,0%0*%,FF*#"%,+%#'#.*I,%*0)F,.'6"L "."-(,50"%+,%<"#'/'+'0,0%0*%'5(-*#,-%, +,%*0)F,F'B5%#)<*-'"-%C%F)-#,-%*#.)0'"# )5'6*-#'.,-'"#%,%+"#%*#.)0',5.*#%0*%I*8"0*#*I<*E"%0*%+'F*"#%F"5%I,C"-%G50'F* 0*%6)+5*-,/'+'0,02%J#.f%F"I<-"/,0"%?)*

<<

+"#% *#.)0',5.*#% 0*+% RQu% #)<*-'"-% 0* *#."#%+'F*"#%I)*#.-,5%=f/'."#%*%'5.*-$# <"-%*+%*#.)0'"L%F"50'F'"5*#%#)Y'F'*5.*# <,-,%0*#,--"++,-%#)#%<".*5F',+'0,0*#%C .,+*5."#% C% (,-,5.'h,-% /)*5,#% <"#'/'^ +'0,0*#% 0*% $c'."% *5% +,% *0)F,F'B5 #)<*-'"-L%If#%,++f%0*%+"#%-*#)+.,0"#%?)* "/.*5(,5%*5%+,%:;j2 9,#% 0'Y'F)+.,0*#% 0*+% <-"F*#"% 0* -*('"5,+'h,F'B5%C%*+%*#.,0"%0*%0*#,--"++" 0*+%<,G#L%5"#%'I<"5*%,%+,#%)5'6*-#'0,0*# +"F,+*#% *+% 0*#,YG"% 0*% (*5*-,-% '56*#^ .'(,F'B5% <*-.'5*5.*% C% ,<+'F,0,% ,% +,# F,-,F.*-G#.'F,#%C%<-"/+*If.'F,#%-*('"^ 5,+*#L%8)5."%F"5%*5.-*(,-%,+.*-5,.'6,# 0*%<*-Y*FF'"5,I'*5."%*5%*+%5'6*+%0*+ <"#.(-,0"2%J++"%=,%'I<+'F,0"%Y"-.,+*F**5%5)*#.-,#%)5'6*-#'0,0*#%+,#%F"50'^ F'"5*#% <,-,% ?)*% +,% Y)5F'B5% 0* '56*#.'(,F'B5% C% <"#.(-,0"% <)*0, 0*#,--"++,-#*2% J+% Y"-.,+*F'I'*5."% 0*+ <"#.(-,0"%F"5.-'/)'-f%,%+,%F"5#"+'0,F'B5 0*%+,%'56*#.'(,F'B52%D"5.-'/)'-f%.,I/'$5 ,%*++"L%*+%=*F="%0*%?)*%+,#%)5'6*-#'0,0*# Y"F,+'F*5%C%<-'"-'F*5L%0*%6*-0,0L%,+()5,# C%#B+"%,+()5,#%f-*,#%.*If.'F,#%C%F"5Y"-^ I*5%<,-,%#)%*#.)0'"%*5%<-"Y)50'0,0L 5gF+*"#%0*%'56*#.'(,F'B52 @)*#.-,% F,<,F'0,0% =)I,5,% C% +,# '5#.,+,F'"5*#%5"#%<*-I'.*5%="C%Y"F,+'h,5)*#.-,%'56*#.'(,F'B5%*5%F),.-"%5gF+*"# .*If.'F"#% ?)*L% ,0*If#L% *#.f5% I)C +'(,0"#%,%+,#%5*F*#'0,0*#%-*('"5,+*#Z ,_% J#.)0'"#% &*0'",I/'*5.,+*#L /_%:-"0)FF'B5%7+'I*5.,-',L%F_%J#.)0'"# H5.*-$.5'F"#% *% H5.*-F)+.)-,+*#L 0_%J5*-(G,#%1*5"6,/+*#2 J5%*+%fI/'."%0*%6'5F)+,F'B5%F"5%*+ I*0'"L% =,F*I"#% )5% ,<"-.*% F)+.)-,+ 'I<"-.,5.*%F"5%5)*#.-,%7)+,%&,(5,%C #)%<-"(-,I,%,-.G#.'F"%C%+,%A,+*-G,%0* 7-.*%0*+%D,I<)#%&*5F=,F,%9'-,2%U*I"# <-"Y)50'h,0"%5)*#.-,%-*+,F'B5%F"5%*+ #*F."-%<g/+'F"L%+,%#"F'*0,0%F'6'+%C%+"# #*F."-*#% <-"0)F.'6"#% 0*% +,% -*('B52 @)*#.-,%)5'6*-#'0,0%#*%0*/*%,%+, 1*('B5%0*%9,%7-,)F,5G,%C%,%+,%I,F-" h"5,% #)-% C% ?)*-*I"#% #*-% 6*-0,0*-"# #*-6'0"-*#% *5% *+% .*--'."-'"% *5% ?)* *#.,I"#%'5I*-#"#2


""#.*%1.6,$%&#""

M*)E*%K*?-FB

809&,'$:% 050;%&/( "#$(#/"% ,#(+!%+!6)7 %$%'-%) .+%"&(-..$8% 2#!"+0-.$8% N%() >&) #(.) (%(#$.5(.) 7"#35$/(.) 1G. >&.5(/(>(.) >&#) 1"1&%5",) /"%) /&'/() >& J&$%5$/$%/") (W".) >&) &R7&'$&%/$() &% &%/2&.5(.,) /$C'(.,) >(5".) 6) &.5(>3.5$/(., '&C#&R$"%()."+'&)&#)&.5(>")>&)#()7"#35$/()&% :9$#&)6)Q()-'(2/(%3(,)#()>&./&%5'(#$L(/$0%, #() 7"/() J(#"'(/$0%) () #") #"/(#) 6) &#) 5&1( 1(72/9&,)(.&K2'(%>")B2&)%$%KX%)K"+$&'%" #&) 9() 7'&.5(>") #() .2C$/$&%5&) (5&%/$0%F

<!


""#.*%1.6,$%&#""

$

&,-.,% 9,("#% , I*5)0"% +,% 6*I"# 0'#F).'*50"% #"/-* <"+G.'F,L%0*I"F-,F', C% *F"5"IG,% *5% *+ <-"(-,I,% J#.,0" @,F'"5,+%0*%XK@2%7++G ,<,-*F*%F,#'%#'*I<-*%#"5-'*5.*L%<*-" F"5%F,-fF.*-%Y)*-.*%C%"<'5'"5*#%Y'-I*#2 @"%.'*5*%I'*0"%0*%=,F*-%n<-*0'FF'"5*#o *5%I,.*-',%0*%*+*FF'"5*#%C%I)F=,#%6*F*# =,% ,<)5.,0"L% F"I"% *5% +,% 0*% PQQr F),50"%6,-'"#%I*#*#%,5.*#%#"#.)6"%?)* +,% .*50*5F',% '50'F,/,% +,% 6'F."-',% 0* ;*/,#.'f5%:'E*-,2 9*%#"/-,5%0,."#%C%*c<*-'*5F',%<,-, Y)50,I*5.,-% #)#% -*#<)*#.,#2% U, -*,+'h,0"%*5F)*#.,#%0*#0*%RrNVL%C,%#*, *5% +,% D"-<"-,F'B5% 9,.'5"/,-BI*.-"L 0"50*% ,F.),+I*5.*% *#% 3'-*F."-, J8*F).'6,L%"%*5%*+%D*5.-"%0*%J#.)0'"# 0*%+,%1*,+'0,0%D"5.*I<"-f5*,%[DJ1D_L #'*50"%,)."-,%0*+%4,-BI*.-"%0*%DJ1DL ?)*% I"5'."-*,% +,% .-,5#'F'B5% F='+*5, 0*#0*%RrNW%=,#.,%="C%0G,2 J#%Y)50,0"-,%*5%D='+*%0*%+,%*I<-*#, 0*%*#.)0'"#%0*%I*-F,0"%C%"<'5'B5%&"-' C%I'*I/-"%0*+%F"I'.$%0*%*c<*-."#%0* "<'5'B5%<g/+'F,%0*%@,F'"5*#%j5'0,#2 X,I/'$5% <*-.*5*F*% ,+% 0'-*F."-'"% 0*+ 4,5F"% &)50',+% 0*% +,% &)8*-L% *# F"5#)+."-,% 0*+% :@j3L% 0*+% 4,5F" &)50',+%C%*+%4H3L%F,-("#%?)*%#*%#)I,5 ,%#)%<,-.'F'<,F'B5%*5%*+%(-)<"%?)*%-*,+'h, *+%*#.)0'"%I)50',+%0*%6,+"-*#%[x"-+0 K,+)*%;)-6*C_L%*+%F"I'.$%?)*%"-(,5'h, *+% *#.)0'"% I)50',+% 0*% #'#.*I,# *+*F."-,+*#% [D"I<,-,.'6*% ;.)0C% "Y J+*F."-,+%;C#.*I#_%C%A+"/,+/,-"I*.*-#L )5,% "-(,5'h,F'B5% ?)*% ,(-)<,% +"# /,-BI*.-"#%0*+%7#',%C%lY-'F,2 J#.)6"%*5%X*I)F"%,%<-"<B#'."%0* #)%<,-.'F'<,F'B5%*5%J5*+,L%&"I*5." D+,6*L%0"50*%<-*#*5.B%)5,%*6,+),F'B5 0*%+,%#'.),F'B5%0*%D='+*L%*5%)5%F"5.*c." +,.'5",I*-'F,5"% C% (+"/,+L% 0*#F+,^ #'Y'F,50"% #)#% <*5#,I'*5."#% #"/-*% *+ /""I%0*%+"#%I"6'I'*5."#%F')0,0,5"#%C *+% *I<"0*-,I'*5."% 0*% +,#% -*('"5*#2

75.1/$%8'&('0>'$&'$+%1/30'32'$:$&' '3*('&$ )2*('32.#$ 4/&>*23'$ %#$ 5,2&%< 9,%6*-0,0%*#%?)*%0*%,F)*-0"%,%+, '5Y"-I,F'B5% ?)*% 5"#".-"#% .*5*I"#L D='+*%*#.f%*5%)5,%*.,<,%0*%)5,%(-,5 .*5#'B5% 6,+B-'F,L% 0"50*% #*% =, 0*#,--"++,0"%I)F="%If#%*5%*+%,#<*F." *F"5BI'F"%?)*%*5%*+%F)+.)-,+L%0"50*%+, F)+.)-,%*#.f%)5%<"F"%-*h,(,0,%0*.-f# 0*+% 0*#,--"++"% *F"5BI'F"L% C% *#"% *#.f (*5*-,50"%.*5#'"5*#%6,+B-'F,#%?)*%0*

</

,+()5,%I,5*-,%I,-F,5%*#."#%F,I/'"# 0*%<,-,0'(I,%?)*%#*%*#.f5%<-"0)F'*50"L ?)*%0'F*5%-*+,F'B5%F"5%+,%0'#.,5F',%?)* =,C%*5.-*%+"#%?)*%I,50,5%C%+"#%?)*%#"5 I,50,0"#2%U,C%)5,%(-,5%0'#.,5F',L%=,C )5,%/-*F=,L%*5.-*%+,%6'#'B5%0*%I)50" 0*%+"#%?)*%#"5%I,50,0"#%C%0*%+"#%?)* I,50,5L%<"-%5"%0*F'-%*+'.*#L%C%*#"%0'F* -*+,F'B5% .,I/'$5% F"5% *+% *cF*#"% 0* F*5.-,+'#I"% ?)*% *#% <,-.*% 0*% )5, #"F'*0,0%.-,0'F'"5,+L%F"5%)5,%#*-'*%0* *+*I*5."#%?)*%.'*5*5%?)*%6*-%F"5%)5 D='+*%?)*%C,%5"%*c'#.*2%9,%(*5.*%#*%*#.f F"I<"-.,50"% 0*% ,F)*-0"%,% )5% D='+* 0'#.'5."%C%+,#%*#.-)F.)-,#%?)*%.*5*I"# ,<*+,5%,%)5%D='+*%?)*%C,%0*8B%0*%*c'#.'-L *5."5F*#%,=G%#*%<-"0)F*%)5,%.*5#'B5 *5%+,%,0,<.,F'B5%0*%+,#%*#.-)F.)-,#L%0* +,#% '5#.'.)F'"5*#L% 0*% +,% I,5*-,% ?)* Y)5F'"5,%*+%<,G#L%,%*#.,%Y"-I,%F"I"%#* *#.f5% F"I<"-.,50"% +"#% F')0,0,5"#2 @"#".-"#L% <"-% *8*I<+"L% .*5*I"# '5Y"-I,F'B5%0*%?)*%="C%0G,%*+%rNu%0* +"#% 8B6*5*#% /,8"% +"#% RN% ,E"#% .'*5* Y,F*/""mL%*#%0*F'-%#*%,F,/B%+,%/-*F=, 0'('.,+L% '5F+)#"% +,% (*5.*% ?)*% *#% I)C <"/-*%.'*5*%)5%F*+)+,-L%*#"%#'(5'Y'F,%?)* *++"#% 6*5% *+% I)50"% 0*% )5,% I,5*-, 0'#.'5.,L%*#*%<"/-*%C,%5"%*#%*+%I'#I" ?)*% =,F*% 6*'5.*% ,E"#% C% ?)* *Y*F.'6,I*5.*%*#.,/,%,'#+,0"L%$#."#%C, 5"%*#.f5%,'#+,0"#2

"#*/#3%)6$7%)$%&$")*'+/$%&$D(%$#/$)% ,'$ 4/+2+/$ '+'4*'0$ '$ %)*/)$ #(%8/) *2%14/)< p"% 0'-G,% +,#% *#.-)F.)-,#% '5#.'^ .)F'"5,+*#L% 5"% #"+,I*5.*% *+% J#.,0"L <"-?)*%.,I/'$5%*+%fI/'."%<-'6,0"%*#.f )5%<"F"%-*h,(,0"%-*#<*F."%0*%+"%?)*%+, (*5.*% *#2% U,C% )5,% (-,5% F,5.'0,0% 0* '50'6'0),+'#I"L%*#%0*F'-L%+,#%<*-#"5,# ?)'*-*5% ,)."0*.*-I'5,-% #)% <-"<'" 0*#.'5"L%If#%,++f%0*%+,#%'0*"+"(G,#%"%0* +,#% <"#'F'"5*#% 6,+B-'F,#L% C% +,# '5#.'.)F'"5*#L%"%*+%I,-F"%5"-I,.'6"L%*#.f Y-*5,50"%*#.,%I)+.'<+'F'0,0%0*%"<F'"5*# ?)*% +*% "Y-*F*% ="C% 0G,% *+% I)50" (+"/,+'h,0"%,%+,%(*5.*L%*5."5F*#%=,C%)5, <-*#'B5%.-*I*50,%=,F',%+,#%'5#.'.)F'"5*# <,-,%?)*%$#.,#%*6"+)F'"5*5%=,F',%+,# -*#<)*#.,#%?)*%+,%(*5.*%*#.f%.-,.,50" 0*%<*0'-2

7")/$%Q4&23'$(#$4/3/$%&$)(0;212%#*/ +%$&/)$1/8212%#*/)$32(+'+'#/)<!!!! D+,-"L%*#%0*F'-%="C%0G,%+,%(*5.*%C, 5"%#*%0*8,%0*F'-%+,#%F"#,#L%#'5"%?)*%#* ,)."0*.*-I'5,%C%*#"%.,I/'$5%#*%<-"0)F* <"-?)*%.*5*I"#%)5,%<-"Y)50,%F-'#'#%0* -*<-*#*5.,F'B5L% 0"50*% 5"% *#.f5 -*Y+*8,0,#%."0,#%+,#%.*50*5F',#L%5"%*# #)Y'F'*5.*I*5.*%<+)-,+%C%=,C%I)F=,#


""#.*%1.6,$%&#""

I'5"-G,#% ?)*% 5"% .'*5*5% *c<-*#'B52 J6'0*5.*I*5.*%*#.f%+,%I'5"-G,%$.5'F,L <*-"%*#"%*#%,+("%I)C%6'#'/+*L%=,C%I)F="# ".-"#%(-)<"#%I'5"-'.,-'"#%?)*%5"%.'*5*5 *c<-*#'B5%C%?)*%.'*5*5%If#%<-"/+*I,# '5F+)#"%?)*%,?)*++,#%I'5"-G,#%$.5'F,# ?)*%#'%#*%6*%?)*%.'*5*5%<-"/+*I,#222222222

<-"/+*I,%0*%+,#%*.5',#%5"%6,%,%#*-%F,<,h 0*%-*#"+6*-%5'5(g5%<-"/+*I,%0*%5'5()5, I'5"-G,2%J5."5F*#%0*%,+()5,%I,5*-, *+% <-Bc'I"% <,#"% *#% 5*F*#,-',I*5.* *5Y-*5.,-L% -*#"+6*-% C% *5F"5.-,-% )5, #"+)F'B5% 0*% +,-("% <+,h"% ?)*% <*-I'., 0*#I,5.*+,-%*+%F"5Y+'F."%0*%*#,%I'5"-G,2

?3CA)CA!S*W3

R*0/)$4'>)%)6$3/1/$S%09$:$T/&282'6 ,'#$4/+2+/$0%)/&8%0$%&$*%1'$2#+>;%#'! 7A%$ 4/+0>'$ '4&23'0$ '&;/$ +%$ %)/$ %# 5,2&%<

75.1/$ '40%32'6$ %#$ %)%$ )%#*2+/6$ %& ,%3,/$ +%$ D(%$ K'$ L0'(3'#>'$ #/$ ,' 4/+2+/$3/#32&2'0)%$3/1/$0%;2.#$E0%#*% '&$*%1'$1'4(3,%< p"%F-*"%?)*%)5,%0*%+,#%F"#,#%?)* D='+*%.'*5*%?)*%-*#"+6*-%*5%*#.*%5)*6" <,-,0'(I,%*#%8)#.,I*5.*%+,%*c<-*#'B5 0*% +,#% I'5"-G,#L% *I<*h,50"% <"-% +,# I'5"-G,#%$.5'F,#y

75/#$0%40%)%#*'32.#$4/&>*23'<!!!!!! @"L% C"% 0'-G,% If#% /'*5% ?)*% F"I" #"F'*0,02%9,%#"F'*0,0%0*/*%#*-%F,<,h 0*%*5Y-*5.,-%C%-*I*0',-%*#.*%,#)5."%#' ?)'*-*%-*#"+6*-%*+%.*I,%0*%+,#%I'5"-G,#L <"-?)*%#'%5"%*#%F,<,h%0*%#"+)F'"5,-%*+

@"L% C"% F-*"% ?)*% *#% I)C% 0'YGF'+ *c.-,<"+,-%*c<*-'*5F',#%0*%".-"#%<,G#*# ,%<*#,-%0*%?)*%=,C%<,G#*#%?)*%#G%=,5 +"(-,0"%0'#I'5)'-%+,#%.*5#'"5*#%C%F+'6,8*# $.5'F"#2%J+%F,#"%0*+%:*-g%*#%/,#.,5.* *I/+*If.'F"2% &f#% 0*% +,% I'.,0% 0*% +, <"/+,F'B5%0*%:*-g%*#%'50G(*5,L%C%*++"# <,#,-"5%<"-%)5,%0'F.,0)-,%C%)5,%#*-'* 0*%F"5Y+'F."#%=,#.,%?)*%*Y*F.'6,I*5.* +"(-,-"5% -*#"+6*-% *+% .*I,% $.5'F"% C <-"0)F'-%)5,%'5F+)#'B5%0*%*#,#%5,F'"5*# *5%+,%#"F'*0,0%<*-),5,L%C%="C%0G,%+, #"F'*0,0%<*-),5,%*#%F"5F*/'0,%F"I" )5,%#"+,2%U,C%".-"#%<,G#*#%?)*%5"%+"

=,5%+"(-,0"L%F"I"%A),.*I,+,L%?)*%5" =,%+"(-,0"%+,%'5F+)#'B5%0*%+"#%I,C,#L <*-"%F+,-"L%*#%*+%]Qu%0*%+,%<"/+,F'B5L *#%".-,%0'I*5#'B52 J5%*+%F,#"%0*%D='+*%*#%)5,%I'5"-G, /,#.,5.*%<*?)*E,%-*#<*F."%,%+,%<"/+,F'B5 0*+%<,G#L%*#%(-,50*%*5%+,%-*('B5L%<*-" I)C%<*?)*E,%F"5%-*#<*F."%,+%<,G#2%p #"-<-*50*%?)*%D='+*%5"%=,C,%#'0"%F,<,h 0*%-*#"+6*-%*+%<-"/+*I,L%<"-%+"%.,5."%*# )5%-*h,("%?)*%,F)#,%,%D='+*%F"I"%<,G#L ,+%J#.,0"%C%,%+"#%F='+*5"#L%0*%5"%=,/*<-*#.,0"%#)Y'F'*5.*%,.*5F'B5%,%)5%.*I, ?)*%="C%#*%6)*+6*%F-)F',+L%<"-?)*%F"I" 0'("L%#'%="C%0G,%5"%#"I"#%F,<,F*#%0* #"+)F'"5,-%*+%<-"/+*I,%0*%+,#%I'5"-G,#L 5"%6,I"#%,%#*-%F,<,F*#%0*%-*#"+6*-%*+ .*I,%0*%+,%-*<-*#*5.,F'B5%C%5"%6,I"# ,%#*-%F,<,F*#%0*%*5.*50*-%*+%<,-,0'(I, ?)*%#*%5"#%6'*5*%*5F'I,2

75.1/$+%)302-20>'$&'$4%03%432.#$D(% )%$*2%#%$%#$A'#*2';/$+%$K'$L0'(3'#>'< D"I"%)5%<-"/+*I,L%[-'#,#_L%F"I" )5%0"+"-%0*%F,/*h,2%:*-"%I'-,L%C"%F-*" ?)*%#*%6*%F"I"%)5,%h"5,%,%+,%?)*%5,0'*

<3


""#.*%1.6,$%&#"" +*%=,%<-*#.,0"%#)Y'F'*5.*%,.*5F'B5%<,-, -*#"+6*-%*+%<-"/+*I,2%J#%)5%<-"/+*I, ?)*%#*%*I<)8,%<"-%,?)GL%#*%*I<)8,%<",++fL%5,0'*%+*%?)'*-*%='5F,-%*+%0'*5.*2 U,C%I)F="%,<,("%0*%'5F*50'"%<*-"%5" =,C%5'5()5,%F"5#.-)FF'B5%0*%#"+)F'B52

7U$()*%+$4/0$+.#+%$8%$&'$)/&(32.#< D,CB%)5%:-*#'0*5.*%*5%:,-,(),C%<"*+%.*I,%0*%+,%.'*--,2%9,%.'*--,%*#%+,%?)* <-"0)F*%+,#%()*--,#L%+,#%-*6"+)F'"5*#L%C 5"#".-"#%5"%=*I"#%.*5'0"%5'%()*--,#L 5'%-*6"+)F'"5*#L%=*I"#%.*5'0"%".-"%.'<" 0*%F"5Y+'F."#L%<*-"%5"%F,/*%+,%I*5"0)0,%?)*%*5%)5%F"5Y+'F."%,#G%,+()'*5 .'*5*%?)*%F*0*-L%C%0,%+,%#*5#,F'B5%?)* +"#%?)*%.'*5*5%?)*%F*0*-%#"5%+"#%?)* .'*5*5%If#2%J5."5F*#%I*%<,-*F*%?)* #'5% *5.-*(,-% ,+("% *#% I)C% 0'YGF'+ #"+)F'"5,-%*#.*%F"5Y+'F."2%J#."%5"%#* ,--*(+,%F"5%#'I<+*%6"+)5.,0L%#'5"%F"5 ,+("%6,+'"#"L%,+("%?)*%+*%*5.-*()*%,%*#,# I'5"-G,#%)5%#*5.'0"%0*%'0*5.'0,0%C%0* '5F+)#'B5%*5%*+%<,G#L%?)*%+*#%0'(,%?)* #"5%6,+'"#"#%<,-,%*+%-*#."2%p"%F-*"%?)* D='+*% 5"% =,% <"0'0"% 0,-+*% ,% *++"#% +, F,.*("-G,%0*%<,-2

*3E?=A><DC@)c)3>3**<@E3D J)*%+$,'$+23,/$D(%$&%$40%/3(4'$D(% )%$ ,'-&%$ 1=)$ +%$ &')$ %&%332/#%) 40%)2+%#32'&%)$D(%$+%$&')$1(#2324'&%)6 7)%0=$ %)/$ (#$ )2;#/$ *'1-2N#$ +% 3%#*0'&2)1/< j5% (-,5% <"+G.'F"% 5"-.*,I*-'F,5" 0*FG,%?)*%*5%D='+*%=,#.,%+"#%F*5'F*-"# *-,5%<"+G.'F"#L%?)*%*-,%I*5.'-,%?)*%, +"#%F='+*5"#%5"%+*#%()#.,/,%+,%<"+G.'F,L ?)*%*-,%)5,%*#<*F'*%0*%F'5'#I"2%p%C" F-*"%?)*%#GL%?)*%=,C%)5,%"/#*#'B5%F"5 *+% <"0*-% <-*#'0*5F',+L% F-*"% ?)*% *#.f #"/-*#.'I,0"%*+%<"0*-%0*+%:-*#'0*5.* 0*% +,% 1*<g/+'F,% C% *#.f% <+*5,I*5.* <-"/,0"L%<"-?)*%*+%:-*#'0*5.*%5"%.'*5* <"0*-%<,-,%=,F*-%.,5.,#%F"#,#2%J5%*#" F"5#'#.*%+,%0'#<,-'0,0L%*+%<,-+,I*5." .'*5*% I)F=G#'I"% <"0*-% '(),+% ?)*% *+ #*F."-%8)0'F',+L%#'5%*I/,-("%=,C%*#., "/#*#'B5%0*%?)*%*+%<"0*-%#"+,I*5.*%*#.f *5%*+%:-*#'0*5.*2%p%+,#%I)5'F'<,+'0,0*# .'*5*5%)5,%*5"-I*%F,5.'0,0%0*%<"0*C% ="C% .'*5*5% I)F="#% If#% -*F)-#"#L *5."5F*#% '(5"-,-% #)% <"0*-% *# <"+G.'F,I*5.*%<"F"%,#.)."L%<"-?)*%*5 *+%Y"50"%*5%+,#%I)5'F'<,+'0,0*#%#*%6, *+%0*#.'5"%0*+%<,G#L%<"-?)*%*+%0*#.'5" 0*+%<,G#%5"%#*%0*F'0*%#"+,I*5.*%*5%*+ <,-+,I*5."L%#'5"%FBI"%#*%+"(-,%?)*%+,# F"I)5,#%#,+(,5%,0*+,5.*2

<;

75.1/$'#'&2I'$&')$%&%332/#%)$VWXV< K*"% +,#% I)5'F'<,+*#% F"I"% )5 #G5."I,%0*%)5%D='+*%-*h,(,0"L%<"-?)* +,%0*I"F-,F',%#*%/,#,%*5%+,%<,-.'F'<,F'B5 0*%+,%/,#*%C%*#.,#%I)5'F'<,+*#%*#.f5 0*I"#.-,50"%?)*%,%5,0'*%+*%'5.*-*#, '5F*5.'6,-%+,%<,-.'F'<,F'B5%,%5'6*+%0*%+, /,#*L%C%+,#%I)5'F'<,+*#%#"5%5'5()5*,0,#L '(5"-,0,#L%0*8,0,#%0*%+,0"2%D),50"%*5 -*,+'0,0%)5%#'#.*I,%<"+G.'F"%6'("-"#" 0*/*-G,%*#.,-%*5Y,.'h,50"%+,%'I<"-.,5F', 0*%+,%<,-.'F'<,F'B5%0*%+,%/,#*L%*5."5F*# *#.,%*+*FF'B5%I)5'F'<,+%I*%<,-*F*%?)* *#%)5%#G5."I,%0*+%,.-,#"%0*+%0*#,--"++" 0*%+,%<"+G.'F,2

J)*%+$)/)*2%#%$D(%$&'$-'?'$'40/-'32.# +%&$S0%)2+%#*%$S2M%0'$#/$2#E&(20>'$%# D(%$#/$4(%+'$8/&8%0$'$%&%;20)%$'&;(2%# +%$+%0%3,'6$:'$D(%$%&$4'>)$)2;(%$)2%#+/ 12*'+$:$12*'+!$75(=&$)%0>'6$'$)($?(232/6 %&$1%?/0$3'#+2+'*/< p"%F-*"%?)*%*+%I*8"-%F,50'0,."L%0* ,F)*-0"%,%+,#%*5F)*#.,#L%*#%9,)-*5F* A"+/"-5*L% C% <"-% ".-"% +,0"% &'F=*++* 4,F=*+*.2%:*-"%F-*"%?)*%)5,%*+*FF'B5 *5.-*%+"#%0"#%<)*0*%#*-%I)C%F"I<*.'.'6,L C% 5"% =,C% 5,0,% F+,-"% ?)*% =,C,% )5, F,--*-,%F"--'0,%<"-%5'5()5"%0*%+"#%0"# +,0"#2%D-*"%?)*%*#.,%*+*FF'B5%6,%,%#*.*--'/+*I*5.*%0)-,2%K,%,%#*-%+,%<-'I*-, *+*FF'B5%?)*%+,%D"5F*-.,F'B5%*5Y-*5.,-f #'5%*#.,-%*5%*+%J#.,0"L%6,%,%*#.,-%,Y)*-, 0*+%J#.,0"L%#'5%-*F)-#"#L%C%+,%0'#<,-'0,0 0*%+"#%-*F)-#"#%*#%I)C%<-"/,/+*%?)*%+* 0$%+,%6'F."-',%,%+,%0*-*F=,2%7%<*#,-%0* ?)*%0'F*5%?)*%+,%I'.,0%0*+%<,G#%*#.f%F"5 &'F=*++*%4,F=*+*.L%<*-"%5"%*#%+"%I'#I" .*5*-%+,%*I<,.G,%C%+,%#'I<,.G,%?)*%.*5**+%6"."L%C%+"%?)*%*#.f5%I'0'*50"%="C%+,# *5F)*#.,#%5"%*#%*+%6"."2

L+%1=)$+%$&/)$0%3(0)/)$(#$3'#+2+'*/ *2%#%$ D(%$ 1/82&2I'0$ (#'$ 3'()'@ Jc,F.,I*5.*L%+,#%*+*FF'"5*#%5"%#* (,5,5%F"5%6"+)5.,0*#L%#*%(,5,5%F"5 6"."#L%C%+"#%6"."#%#'(5'Y'F,5%?)*%,+()'*5 #*%+*6,5.B%*5%+,%I,E,5,%C%Y)*%,%6".,-2 p% ,="-,% +"#% 6"."#% #"5% 6"+)5.,-'"#L *5."5F*#%#*%5*F*#'.,5%If#%"%I*5"#%`L\ I'++"5*#%0*%6".,5.*#%<,-,%?)*%(,5*%)5 F,50'0,."L%C%+,%0*-*F=,%*#%F"I<+*.,^ I*5.*%F,<,h%0*%I"6'+'h,-%,%`L\%I'++"5*# 0*% F='+*5"#2% J5."5F*#% )5"% I'-,% +,# F'Y-,#%C%6*%?)*%#"I"#%R`%I'++"5*#%C%5,0, If#%?)*%`L\%*#%+"%?)*%#*%5*F*#'.,%<,-, (,5,-L% *#% I)C% <"F"2% ;'% F,I/',-,% *+ *#F*5,-'"%*+*F."-,+%C%Y)*-,5%,%6".,-%RQ I'++"5*#%0*%<*-#"5,#%C%#*%5*F*#'.,-,5

!:(8$(&.)2.%/,$8*R$2*G%(.)/P &$&$(0',(.8(&*%.,'I(O')(0$7).) 4#.()'%(&.)2.%/,$8*R$&')@('(8') 0$7).)(&'%&.(8$(2$0*/$8(%'(0.)$ /$%/'@(.)(0',4#.(8$)(,.=*'%.) /*.%.%(08$/$@(.8(,.)/'(.)(-<)*2$ 2.8.)/*$8?I \%<,-,%(,5,-L%*#.,-G,I"#%=,/+,50"%0* ".-,%F"#,L%<*-"%*#*%5"%*#%*+%F,#"22222222222222

")*%$'M/$#/$)%$'&3'#I.$'$'40/-'0$&' %&%332.#$+20%3*'$+%$5/0%)6$730%%$D(% %)*'$%&%332.#$,(-2%0'$'4/0*'+/$'$(#' 8%0+'+%0'$+%)3%#*0'&2I'32.#$+%&$4'>)< p"%F-*"%?)*%+,%0*#F*5.-,+'h,F'B5%*#.f 0,0,%<"-%*+%0'5*-"2%9"#%<,G#*#%?)*%#"5 0*#F*5.-,+'h,0"#L%"%+"#%<,G#*#%0"50*%+, F,<'.,+% 5"% <*#,% .,5."L% *#% <"-?)*% +,# -*('"5*#%.'*5*5%<+,.,L%*+%-*#."%*#%Ig#'F, F*+*#.',+2%J5."5F*#%I'*5.-,#%5"%=,C, )5,%,#'(5,F'B5%0*%+"#%-*F)-#"#%?)*%#*,L <"-%*8*I<+"L%<-"<"-F'"5,+%,+%5gI*-"%0* =,/'.,5.*#L%"%,+%5gI*-"%0*%m'+BI*.-"# F),0-,0"#% 0*% .'*--,L% *5% Y'5L% C% 5"% 0* ,F)*-0"%,+%5'6*+%0*%<-"0)FF'B5%0*%+, h"5,L% #'5"% ?)*% .*5(,% ".-"% .'<"% 0* ,#'(5,F'B5L% +,% 0*#F*5.-,+'h,F'B5% 5" #)F*0*2%j5,%<*-#"5,%?)*%.'*5*%I)F=, <".*#.,0% C% I)F=,#% -*(+,#% C% I)F=,# +*C*#L%#'%5"%.'*5*%<+,.,%<,-,%*8*F).,-+,# 5"%*c'#.*2

"#*/#3%)$ '(#D(%$ %Q2)*'#$ &>+%0%) %)3/;2+/)$4/0$8/*'32.#$4/4(&'06$)% %#*2%#+%$ D(%$ )2#$ +2#%0/$ 2;('& +%4%#+%0>'#$+%$D(2%#$%#*0%;(%$&/) 0%3(0)/)@ Jc,F."L%<"-?)*%#'5%-*F)-#"#%5"%=,C ,FF'B5%C%*5%<"+G.'F,%6,+*%+,%#)I,%0*%+,# ,FF'"5*#2%J5."5F*#%C"%5"%*#."C%0'F'*50" ?)*%*#.,%*+*FF'B5%#*,%I,+,L%<*-"%+"%?)* 0'("%*#%?)*%*+%'I<,F."%?)*%.'*5*%5"%*# .,5%-*+*6,5.*%F"I"%#'%#*%='F'*-,%)5, 0'#.-'/)F'B5%If#%*?)'.,.'6,%C%<,-*8,%0* -*F)-#"#L%C%*#"%*#%+"%?)*%Y,+.,%<,-,%+, -*('"5,+'h,F'B52%7="-,L%.,I/'$5%=,C%)5 .*I,%0*%-*(+,I*5.,F'B5%C%0*+%5'6*+%0* +,%<"+G.'F,L%?)*%#*%-*?)'*-*%<,-,%<"0*.*5*-% )5,% 0*#F*5.-,+'h,F'B5L% "% #*, .*50-G,5% ?)*% .*5*-% I)F=,% If# 'I<"-.,5F',%+"#%I)5'F'<'"#2


""#,*,-,&%,6&$#""

1((.&(*&<.",(.%5

9,+7)%2+!)!0+"!%$:+"!2#"2#!0)!()/; -)5'(JU.)>&)2%)%2&J")7'"K'(1()$17#&1&%5(>")&%)?@A?,)#()42%>(/$0%)-'(2/(%3-7'&%>&)+2./( 1&>$(%5&)&#)(7"6")6)/(7(/$5(/$0%)()2%)K'27")>&)7'"C&."'&.)>&)7'$1&'")+G.$/",)B2&)#".)%$W". +&%&C$/$(>".)(7'&%>(%)()#&&')/"''&/5(1&%5&)&%)&.5&)%$J&#,)>"%>&)>&+&'3(%)#&&')2%)13%$1")>&)D? 7(#(+'(.)7"')1$%25"F)S#)7'"K'(1()7$#"5")9().$>")J(#"'(>")7"')(.&."'&.,)(25"'$>(>&.,)>"/&%5&.)6 %$W".,)B2$&%&.)/2&%5(%)/01")>&)C"'1()&%5'&5&%$>()6)>$%G1$/().&)72&>&)#"K'(')&.5&)"+I&5$J"F

<5


""#,*,-,&%,6&$#""

!

'6*-#"#% *#.)0'"# 0*I)*#.-,5%?)*%#'%)5 5'E"% ,<-*50*% ,% +**F"--*F.,I*5.*% *5 <-'I*-"% /f#'F"L "/.*50-f% )5% I*8"-*#)+.,0"%*5%#)%6'0,%*#F"+,-%*5%(*5*-,+2 J#.f%F"I<-"/,0"%.,I/'$5L%?)*%0*%<,#" <"0-f%0,-%)5,%/)*5,%<-)*/,%;'IF*2 :*-"% +,I*5.,/+*I*5.*L% 5"% ."0"# ,<-*50*5%,%+**-%*5%*#.*%F)-#"L%+"%?)* "F,#'"5,%)5%I,+%-*50'I'*5."2!!!!!!!!!!!!!!! 3*% ,F)*-0"% ,% +"#% *#.f50,-*# 0*Y'5'0"#%<"-%*+%&'5'#.*-'"%0*%J0)F,F'B5 [&'5*0)F_L%,+%.*-I'5,-%<-'I*-"%/f#'F" +"#%5'E"#%0*/*-G,5%+**-%)5%IG5'I"%0* VP%<,+,/-,#%<"-%I'5)."L%<*-"%-*#)+.,0"# 0*%*6,+),F'"5*#%0*%6*+"F'0,0%+*F."-, -*,+'h,0,#% <"-% +,% b)50,F'B5% 7-,)^ F,5G7<-*50*%,%W%I'+%5'E"#%0*%#*()50" /f#'F"L%*5%I,-h"%0*%PQRPL%0'F*5%?)* #B+"%)5%Rru%F)I<+*%*#.,%I*.,2222222222 J#% <"-% *#"% ?)*% +,% b)50,F'B5 'I<+*I*5.B%*#.*%,E"%*+%<-"(-,I,%<'+"." n9**-%*#%:-'I*-"oL%?)*%0*#0*%*+%I*#%0* 8)5'"%*5%,0*+,5.*%/)#FB%,<"C,-%,%)5 (-)<"%0*%<-"Y*#"-*#%0*%<-'I*-"%/f#'F" <,-,% ?)*% ."0"#% #)#% 5'E"#% .*-I'5*5 +*C*50"%*5%*#.*%F)-#"2%9,%I*.,%*#%+"(-,?)*%I'+%,+)I5"#%<,#*5%,%#*()50"%,E" +*C*50"%,0*F),0,I*5.*L%,%.-,6$#%0* *#.*%,<"C"2

<7

nJ+%:-"(-,I,%9**-%*#%:-'I*-"%#)-(* 0*%)5%'I<*-,.'6"%0*%*?)'0,0%*0)F,.'6,L <)*#% ,% <,-.'-% 0*+% :-"(-,I,% 1*#F,.* 9*F."-%6*I"#%?)*%+"#%5'E"#%C%5'E,#%If# 6)+5*-,/+*#%0*%+,%-*('B5%,<-*50*5%,%+**I)C% .,-0G,I*5.*L% "% 5"% ,<-*50*5L% C +)*("% 0*% #'*.*% ,E"#% *8*F).,50"% *#.* <-"(-,I,% F-**I"#% ?)*% 5"% <"0*I"# #*()'-%-*#F,.,50"%5'E"#%*.*-5,I*5.*%C 0*/*I"#%'-%,%+,%-,Gh%0*+%<-"/+*I,L%*#." *#%*+%<-'I*-%,E"%/f#'F"oL%*c<+'F,%!"#$ &'()*+%A,-FG,L%:-*#'0*5.*%0*%+,%b)5^ 0,F'B5% 7-,)F,5G7<-*50*222222222222222222

!@?3E*<A=)>AD)*@C!3?3E*<AD D'5F)*5.,% C% #*'#% *#F)*+,#% 0*% +, -*('B5%^0*%D="+F="+L%b-*'-*L%9,).,-"L 9"5F"F=*L%@)*6,%HI<*-',+L%:,0-*%9,# D,#,#L%:'.-)Y?)$5L%K'+Fg5%C%X*I)F"^ Y)*-"5%/*5*Y'F',0,#%F"5%*#.*%<-"(-,I, ?)*% /)#FB% <".*5F',-% *+% I"0*+"% 0* *5#*E,5h,%0*%+,%+*F.)-,%0*+%0"F*5.*L%, .-,6$#%0*Z%+,%,-.'F)+,F'B5%0*%)5%F'F+"%0* .-,/,8"%*5%#,+,%F"5%+"#%<-"Y*#"-*#L%)5 0',(5B#.'F"%,F,/,0"%0*%+"#%5'E"#%C%)5, *6,+),F'B5%<*-I,5*5.*L%?)*%.-,.,-"5 0*% '5F-*I*5.,-% +,% *Y*F.'6'0,0% 0*% +,# *#.-,.*(',#% ,% <,-.'-% 0*% +"#% I$."0"# <-*0"I'5,5.*#% *5% +"#% 0"F*5.*#2 &,-G,%9"-*."%X"--*#L%D""-0'5,0"-, 0*% 9**-% *#% :-'I*-"L% F)*5.,% ?)*% *+ *?)'<"% <-"Y*#'"5,+% 0*% +,% b)50,F'B5

,5,+'hB%*+%0*#*I<*E"%0*+%<-"Y*#"-%*5 *+%,)+,%."I,50"%*5%F)*5.,%F)f+*#%#"5 #)#% *#.-,.*(',#% 0'0fF.'F,#L% #)% 5'6*+ .$F5'F"%C%#)%0"I'5'"%0*%(-)<"L%,0*If# 0*% *6,+),-L% *5% *#<*FGY'F"L% FBI"% #* ).'+'h,5% +"#% 0'#.'5."#% F,5,+*#% 0* ,<-*50'h,8*% [6'#),+L% ,)0'.'6"L% m'5*#^ .$#'F"_L% 0*.*-I'5,50"% Y"-.,+*h,#% C 0*/'+'0,0*#2 b)*-"5% #*'#% ,#*#"-,#% ?)*% #* -*<,-.'*-"5%*+%.".,+%0*%+,#%*#F)*+,#L%*5 )5,%,-0),%+,/"-%*5%.*--*5"2%nJ+%I"0*+" 0*% .-,/,8"% *#% )5% I"0*+"% 0* .-,5#Y*-*5F',L% 0"50*% '5#.,+,I"# F"I<*.*5F',#%5)*6,#%*5%)5,%/,#*L%)5 <'#"L% ?)*% #"5% +,#% .$F5'F,#% C% <-"F*^ 0'I'*5."#%?)*%+"#%<-"Y*#"-*#%C,%F"5"F*5L *5."5F*#%0*#0*%#)%*#.,0"%0*%0*#,--"++" 5,.)-,+L% 5"#".-"#% '5#.,+,I"#% 5)*6,# F"I<*.*5F',#%<*-"%#'*I<-*%F*5.-f5^ 0"5"#%*5%+,#%?)*%*++"#%.'*5*5L%*5."5F*# *#%)5,%*c<*-'*5F',%?)*%-*#)+.,%<"#'.'6, <"-?)*%+"%?)*%)5"%=,F*%*#%<".*5F',-%+" ?)*% C,% #,/*5L% "-0*5,-+"% C% #'#.*^ I,.'h,-+"oL%#"#.'*5*2 3*% *#.*% I"0"L% C% <,-,% +"(-,-% ?)* *c'#.,5% <-"Y*#"-*#% 0*% *cF*+*5F',L F,<,F'.,0"#%C%*Y'F'*5.*#%*5%+,%*5#*E,5h, 0*% +,% +*F.)-,L% #*% )#,-"5% I$."0"#% 0* ,).",5f+'#'#%-*Y+*c'6"L%<+,5'Y'F,F'B5%*5 F"58)5."%C%<-"<)*#.,#%0*%,F.'6'0,0*#%, .-,/,8,-%F"5%+"#%,+)I5"#2%nJ5%5)*#.-"


""#,*,-,&%,6&$#""

#)<)*#."L%+"#%5'E"#%5"%#B+"%,<-*50*5 6'#),+I*5.*%,%+**-L%#'5"%,)0'.'6,I*5.* C% ,% .-,6$#% 0*+% F)*-<"L% <"-% *8*I<+" <)*0*5%,<-*50*-%)5,%+*.-,%,%.-,6$#%0*+ I"6'I'*5."L%C%*#"%=,%#'0"%'55"6,0"<,-,% +"#% <-"Y*#"-*#L% <"-?)*% #'*I<-* *#.,I"#%,<*(,0"#%,%+"#%I$."0"#%If# .-,0'F'"5,+*#%C%5"#".-"#%=*I"#%'5#.,+,0" *8*-F'F'"#L%8)*("#L%0"50*%#*%,-I,5%+,# +*.-,#%F"5%+"#%F"I<,E*-"#L%*5%*+%#)*+"L F"5%#GI/"+"#%0*%I,5"L%F"5%+"#%/-,h"# "% +,#% <'*-5,#oL% ,(-*(,% X"--*#2 !!!!!!!!! 9"%,5.*-'"-%#*%F"I<+*I*5.,%F"5 +,#% 4,#*#% D)--'F)+,-*#% ?)*% .'*5*% *+ &'5*0)F% <,-,% <-'I*-"% /f#'F"L% ?)* ,<)5.,5%,+%0*#,--"++"%0*%+,%F"5F'*5F', Y"5"+B('F,%[F"I<-*50*-%?)*%+,#%<,+,/-,# .'*5*5%#"5'0"_L%C%+)*("%+,%0*F"0'Y'F,F'B5 [0*#F'Y-,-%*+%FB0'("%*#F-'."%<,-,%,FF*0*,+%#'(5'Y'F,0"%0*+%.*c."_2%n9"#%F"+*('"# .'*5*5% +,% <-'"-'0,0% 0*% Y"-I,-% 5'E"# +*F."-*#%,F.'6"#%C%F-G.'F"#L%*#."%F"I'*5h, *5%+,%Y,I'+',L%<*-"%5"%."0"#%,+F,5h,5 *#."#% ,<-*50'h,8*#% IG5'I"#% *5% #)# <-'I*-"#%,E"#%0*%6'0,2%:,-,%-"I<**#.,%0*#'(),+0,0%0*%"-'(*5L%+,#%*#F)*+,# #"5%,<"C,0,#%F"5%0'#.'5."#%<-"(-,I,# I'5'#.*-',+*#L%,#G%.,I/'$5%F"5%'5'F',.'6,# -*('"5,+*#% F"I"% +,% b)50,F'B5

7-,)F,5G7<-*50*oL%#"#.'*5*%J0),-0" w*-*5$L%;*-*I'%0*%J0)F,F'B5%0*%9, 7-,)F,5G,2 X"0"% *#."% =,% 0,0"% *cF*+*5.*# -*#)+.,0"#L%I*0'0"#%F,0,%.-*#%#*I,5,# <"-%)5%*?)'<"%*6,+),0"-%?)*%-*<"-., *+%-*#)+.,0"%0*+%,6,5F*%0*%+"#%5'E"#2%9, '0*,%*#%?)*%,%Y'5*#%0*%0'F'*I/-*L%F,0, <-"Y*#"-%/*5*Y'F',0"%<)*0,%-*F'/'-%)5, F*-.'Y'F,F'B5%<"-%<,-.*%0*%+,%b)50,F'B5 #'%+,%(-,5%I,C"-G,%0*%#)#%5'E"#%,<-*50* ,%+**-%#*(g5%+"%*#<*-,0"2 nJ5% -*+,F'B5% ,% +"#% 0"F*5.*#L ?)*-*I"#% ?)*% *++"#% ,<-*50,5% )5 I$."0"%#'#.*If.'F"%C%"-0*5,0"%*5%."-5" ,%+,%*5#*E,5h,%0*%+,%+*F.)-,L%C%F"5%+"# ,+)I5"#L%+"(-,-%?)*%,<-*50,5%,%+***5%<-'I*-"%/f#'F"%C%?)*%*++"#%<)*0,5 .*5*-%+,%0*#.-*h,%0*+%-*F"5"F'I'*5." 6'#),+% C% +,% '5.*(-,F'B5L% *#% 0*F'-L -*F"5"F*-%+,#%+*.-,#%C%,-I,-%)5%."0"%, .-,6$#%0*%+,%<,+,/-,L%<"-?)*%#B+"%F"5 *#"%<"0*I"#%'5#.,+,-%+,%F"I<*.*5F', 0*+%-'.I"%C%0*#<)$#%'5#.,+,-%*+%F"5.*5'0" #*If5.'F"oL%#*E,+,%+,%D""-0'5,0"-,2 D,/*%0*#.,F,-%?)*%,+%#*-%$#.*%)5 <-"(-,I,% <,-,% <-'I*-"% /f#'F"L% #* .-,5#Y"-I,%*5%)5%,<-*#."%<,-,%?)*%*#."#

!O')(%*S')(%'()G8'($0,.%&.% 3*)#$8-.%/.($(8..,@()*%' $#&*/*3$-.%/.(1($(/,$3N)(&.8 2#.,0'@(0',(.J.-08'(0#.&.% $0,.%&.,(#%$(8./,$($(/,$3N)(&.8 -'3*-*.%/'@(1(.)'(5$()*&' *%%'3$&',(0$,$(8')(0,'+.)',.)@ 0',4#.()*.-0,.(.)/$-') $0.=$&')($(8')(-N/'&')(-P) /,$&*2*'%$8.)?@(B$,7$(O',./' >',,.)@("'',&*%$&',$(&.(O.., .)(E,*-.,'I 5'E"#%.*5(,5%+,%"<"-.)5'0,0%0*%"/.*5*)5%I*8"-%-*50'I'*5."%*5%*+%;'IF*%0* #*()50"2%n9,%#)I,%0*%9**-%*#%:-'I*-"L If#% *+% :-"(-,I,% 1*#F,.*% 9*F.".-,0'F'"5,+L%'5F-*I*5.,0"%Y)*-.*I*5.* F"5% *+% ,<"-.*% 0*+% &'5'#.*-'"% 0* J0)F,F'B5%C%#"/-*%."0"%*+%.-,/,8"%0*%+, *#F)*+,L%0,-f%I*8"-*#%Y-)."#%*5%*#.* .*I,oL%F-**%!"#$%&'()*+%A,-FG,222222222222222

<8


""#,*,-,&%,6&$#""

!M)/'1(-#1(2'%/.%/$(2'%(-* 2#,)'@()*.%/'(4#.(8'=,N(-* '6J./*3'($8(2*.%(0',(2*.%/'@($(8$ +.25$(&.(8')(YZ(/.%='(YY(%*S') 8.2/',.)@(0',4#.(5$1(#%'(4#. /*.%.(0,'68.-$)(&.($0,.%&*R$J.@ 0.,'(5$%(*&'($3$%R$%&' %'/',*$-.%/.@(1(8$(=,$%(-$1',7$ 8..()'6,.([\(0$8$6,$)?@(K%&,.$ >',,.@(E,'+.)',$(&.(.)2#.8$ 6.%.+*2*$&$I 3D*S3>A)O\B 43E3=A>)!=<3?@)13)fS3!3 nJ+%<-"(-,I,%I*%=,%<,-*F'0"%#g<*/'*5L%*+%.-,/,8,-%F"5%+,%#*E"-,%S+(,%^+, ,#*#"-,^%I*%=,%#*-6'0"%I)F="L%<"-?)* *#%)5,%<*-#"5,%?)*%I*%,<"C,%/,#.,5.* C%*#%/'*5%*5.-*.*5'0"%F),50"%*++,%6'*5*L <"-?)*%#'*I<-*%I*%.-,*%F"#,#%5)*6,#L *#.-,.*(',#%?)*%C"%5"%F"5"hF"L%I*%+,# 6,% *5#*E,50"% C% ,<,-.*% 5"#% ++*6,I"# I)C%/'*5L%+"#%F='F"#%+,%F"5"F*5%C%+, ?)'*-*5oL%6,+"-,%750-*,%X"--*L%:-"Y*#"-, 8*Y*%0*+%<-'I*-"%7%0*%+,%J#F)*+,%`Q\ A*5*-,+%:-'*."%0*%z)*<*L%*5%+,%F"I)5, 0*%b-*'-*L%/*5*Y'F',0,%F"5%*+%:-"(-,I, 9**-%*#%:-'I*-"2 nD"I"% #"C% 8"6*5% *5% +"% ?)*% *# *0)F,F'B5%^,(-*(,^L%+"%?)*%=*%,<-*50'0" 0*% 7-,)F,5G7<-*50*L% <"-% *8*I<+"% *+ I$."0"% 0*+% *+f#.'F"L% +,% .$F5'F,% 0*+ F,h,I"#F,#%0*%<,+,/-,#L%C%F"#,#%?)*%C" 5"% #,/G,L% I*% =,5% #*-6'0"% /,#.,5.*L <"-?)*%,5.*#%*-,%."0"%If#%F),0-,0"L If#%-G('0"%*5%+,%Y"-I,%0*%*5#*E,-L%C ,="-,%5"L%*#%If#%0'5fI'F"%C%+,%'0*,%*# ?)*%*+%,+)I5"%6,C,%,<-*50'*50"%0*%#)# *--"-*#o2 X"--*%*5#*E,%,%P`%5'E"#%0*%]%C%W ,E"#L% (-,5% <,-.*% 0*+% F,I<"2% j5"% 0* *++"#% *#% 4*58,IG5% D)-'=),+L% ?)'*5 F)*5.,%?)*%+*%()#.,%+,%Y"-I,%*5%?)*%#* +*% *5#*E,% ,% +**-2% n9,% .G,% 8)*(,% F"5 5"#".-"#L%<*-"%,%,<-*50*-2%9,%".-,%6*h -*#<"50'*50"%)5,%,0'6'5,5h,L%C"%0'8* +,%<%C%0*%,=G%C"%I*%(,5$%)5%+,<'F'."%C ".-"#%F"I<,E*-"#%If#2%S.-"%0G,L%F"5 )5%*#<*8"%5"#".-"#%.*5G,I"#%?)*%0*F'+,% h*.,L% ,#G% hh**% hh**oL% 0*#F-'/*% *5 -*+,F'B5%,%+,#%F+,#*#%?)*%=,%=*F="%+, ,#*#"-,%0*%+,%*#F)*+,L%S+(,%K,+0*/*5'."2

!:


""#,*,-,&%,6&$#"" .-,/,8"L%<*-"%=,/G,5%5'E"#%0*+%<-'I*#*I*#.-*%?)*%5"%*-,5%+*F."-*#%C%,="-, +"%#"5%C%?)*%'5F+)#"%=,5%,6,5h,0"%If# ?)*%*+%-*#."oL%#*E,+,%+,%0"F*5.*222222222 j5%<-"(-*#"%.,I/'$5%6,+"-,0"%0*#0* +,%0'-*FF'B5%0*%+,%*#F)*+,2%nJ+%,<"C"%,+ 0"F*5.*% Y"-.,+*F*% I,C"-I*5.*% #) *c<*-'*5F',% <*0,(B('F,% C% 6,% ,% ',0?)'-'*50"%5)*6"#%F"5"F'I'*5."#%<"*+%/'*5%0*%+"#%5'E"#L%?)*%#"5%+"#%(*#."-*# 0*%."0,%*#.,%.,-*,%.,5%#'(5'Y'F,.'6,nL%0'F* 7I,+',%z)'0*+L%3'-*F."-,%0*%+,%*#F)*+,L ?)'*5%F"5Y'*#,%?)*%,+%.*5*-%,0*If#L%*+ ,<"C"%0*+%:-"(-,I,%1*#F,.*%9*F."-%=,F* 6,-'"#%,E"#L%5"%0)0,-"5%*5%,F*<.,-%*#.* 5)*6"%0*#,YG"2 7@31J7%%XS11J

7&79H7%zjH3J9

np"% *#."C% I)C% F"5.*5.,% F"5% I' F)-#"L%#'*5."%?)*%+"(-$%I'%"/8*.'6"%,+ F'*5%<"-%F'*5."L%,%+,%Y*F=,L%0*%+"#%P` .*5("%PP%5'E"#%+*F."-*#L%<"-?)*%=,C%)5"

?)*% .'*5*% <-"/+*I,#% 0*% ,<-*50'h,8*L <*-"%=,5%'0"%,6,5h,50"%5"."-',I*5.*L C%+,%(-,5%I,C"-G,%+**%#"/-*%VQ%<,+,/-,#2 ;G%+*#%Y,+.,%Y+)'0*hL%*5%*+%-'.I"%Y,+.,%If#

nJ#."C%Y*+'h%F"5%I'#%F='?)'++"#L%?)* +*,5%C%6*-%?)*%*++"#%C,%=,F*5%#"+"#%#)# <-)*/,#2%p"%,5.*#%+*#%+*G,%+,#%<-*()5.,#L ,="-,%*++"#%-*#<"50*5%#)#%<-)*/,#L%,#G ?)*% *#."C% I)C% F"5.*5.,nL% F"5F+)C* 750-*,%X"--*2

2AFH*EA%KAHE-)%AF%)AH-'-H<=-%A'%.'N-)IA%=A>%M<'<FEA)<-%=A%1=JH*H<G' &'*5.-,#%*5%PQRP%#*%0'"%'5'F'"%,+%:-"(-,I,%9**-%*#%:-'I*-"L%*+%:-"(-,I,%1*#F,.*%9*F."-%#'()*%F"#*F=,50"%Y-)."# <"-%#)#%/)*5"#%-*#)+.,0"#2%J#.*%,E"%*+%&'5'#.*-'"%0*%J0)F,F'B5%<)/+'FB%)5%'5Y"-I*%#"/-*%*+%'I<,F."%0*+%1*#F,.* 9*F."-%*5%P%I'+%5'E"#%0*%F),-."%/f#'F"%,.*50'0"#%*+%,E"%PQRQL%C%*5%$+%#*%#*E,+,%?)*%n*+%*Y*F."%0*+%:-"(-,I,%1*#F,.* 9*F."-%*5%+"#%-*#)+.,0"#%;'IF*%*#%<"#'.'6"%C%*#.,0G#.'F,I*5.*%#'(5'Y'F,.'6"o2 J#%?)*%0*%.*5*-%*+%#$<.'I"%+)(,-%*5%*+%-,5m'5(%0*+%;'IF*%0*%9*5(),8*%,%5'6*+%5,F'"5,+L%9,%7-,)F,5G,%+"(-B%#)/',+%.*-F*-"%*5%PQRPL%,+("%?)*%<,-,%*+%&'5'#.*-'"%*5%<,-.*%#*%0*/*%,%+,%+,/"-%?)*%=,%6*5'0"%=,F'*50"%+,%b)50,F'B5L ?)*%*5%+,%-*('B5%.-,/,8,%,F.),+I*5.*%F"5%\%I'+%5'E"#%[0*%)5%)5'6*-#"%,<-"c'I,0"%0*%RV%I'+%?)*%0,5%+,%<-)*/,%*5 F),-."%/f#'F"_2 nJ+%:-"(-,I,%0*%1*#F,.*%9*F."-%F"5.-'/)CB%,%I*8"-,-%+"#%-*#)+.,0"#%;'IF*%0*%+,%-*('B52%JY*F.'6,I*5.*L%0*%,F)*-0" ,%+"#%*#.)0'"#%*#.,0G#.'F"#%-*,+'h,0"#%<"-%*+%D*5.-"%0*%J#.)0'"#%&'5*0)FL%*#.,%'5'F',.'6,%-*('"5,+%'I<,F.B%<"#'.'6,I*5.* *5%+"#%-*#)+.,0"#%"/.*5'0"#oL%-,.'Y'F,%*+%;*-*I'%J0)F,F'B5%*5%9,%7-,)F,5G,L%J0),-0"%w*-*5$2%J#.*%'5Y"-I*%I)*#.-,L <"-%*8*I<+"L%?)*%n)5%*#.,/+*F'I'*5."%?)*%<,-.'F'<B%0*+%:-"(-,I,%0*%1*#F,.*%9*F."-L%*c<*-'I*5.B%)5%'5F-*I*5." *5%#)%<-"I*0'"%;'IF*%0*%F),-."%,E"%/f#'F"%.,5."%*5%&,.*If.'F,%F"I"%9*5(),8*L%*5%,+-*0*0"-%0*%\%<)5."#o2 j5,%0'#.'5F'B5%?)*%!"#$%&'()*+%A,-FG,L%,(-,0*F*L%<*-"%.,I/'$5%-*F'/*%F"5%=)I'+0,0L%#,/'*50"%?)*%*5%*#.,%.,-*, *#%'I<-*#F'50'/+*%#*()'-%F"5.,50"%F"5%*+%,<"C"%0*%."0"#%+"#%,F."-*#%'56"+)F-,0"#2%nJ#.*%'5Y"-I*%+"%6,+"-,I"#%I)C <"#'.'6,I*5.*L%#'5%*I/,-("%*#%5*F*#,-'"%<"5*-%+,#%F"#,#%*5%#)%8)#.,%I*0'0,Z%J+%-*#)+.,0"%Y'5,+%*#%*+%Y-)."%0*+%.-,/,8" 0*%I)F="#2%J#.,I"#%Y*+'F*#L%<"-?)*%#,/*I"#%?)*%#)I,%)5%(-,5'."%0*%,-*5,%,+%*#Y)*-h"%?)*%=,F*%."0,%+,%-*('B5oL <)5.),+'h,%*+%:-*#'0*5.*%0*%+,%b)50,F'B52

!9


""#&-%=&2,+&+#""

<0!2#",#'-#!2#0

4'()%&2(.%5'(.6%&=#6(.#0$"%#07 S#)7'"6&/5",)B2&)5('>0)(W".)&%)/"%/'&5(').2)/"%.5'2//$0%,)6()7".&&)/&'/()>&)2%)E@Z)>&)(J(%/&, 5&%$&%>")/"1")1&5().2)$%(2K2'(/$0%)&%)C&+'&'")>&)?@ADF)V&)5'(5()>&)2%()(1+$/$".()(72&.5(, (7'&/$(>()5(%5")7"')&#).&/5"')7X+#$/")/"1")&#)7'$J(>",)B2&).27&'('G)#(5(1&%5&)#()$%C'(&.5'2/52'( 6)#()/(#$>(>)>&#).&'J$/$")B2&)9"6)5$&%&)&#)(&'0>'"1")!(B2&92&F

#

),50"%*5%PQQ\%#*%='h" <g/+'F,%+,%'0*,%0*%.*5*)5%5)*6"%,*-"<)*-."L 0*% F,-fF.*-% '5.*-^ 5,F'"5,+L%<,-,%X*I)F" C%9,%7-,)F,5G,L%5,0'* *#<*-,/,% ?)*% *+ <-"C*F."% .,-0,-,% .,5."#% ,E"#% *5 I,.*-',+'h,-#*2% K,-'"#% -*F)-#"#% 0* <-".*FF'B5%<"-%<,-.*%0*%F"I)5'0,0*# 6*F'5,#%,+%-*F'5."L%*5%+,#%F*-F,5G,#%0* z)*<*L%#*%"<)#'*-"5%,%+,%I*(,%"/-,2 1*F'$5%*5%Y*/-*-"%0*%PQRQ%)5,%*I<-*#, #*%,08)0'FB%+,%+'F'.,F'B5%C%*+%RW%0*%,("#." 0*%PQRR%*+%&'5'#.*-'"%0*%!)#.'F',%0'"%+)h 6*-0*%,%#)%F"5#.-)FF'B52

<E:=A3D?=S*?S=A 13)!=<C3=)E<H3>

:,-,%*+%;*-*I'%0*%S/-,#%:g/+'F,#L ;*-('"%@gE*hL%."0"%*#.*%<-"F*#"%5"%=, #'0"%5,0,%YfF'+L%*5.-*%<,<*+*"#%C%*#.)0'"# 0*%'I<,F."L%<*-"%,%<*#,-%0*%,?)*++"%*+ @)*6"%7*-"<)*-."%H5.*-5,F'"5,+%C,%*# )5,%-*,+'0,0%<,-,%9,%7-,)F,5G,L%C%#* *#.f5%=,F'*50"%."0"#%+"#%*#Y)*-h"#%<,-, F"5F-*.,-% #)% '5,)()-,F'B5% *5% PQRV2

;*% .-,.,% 0*% )5% ,*-"<)*-."% ?)* #)<*-,-f%*5"-I*I*5.*%+,#%F"50'F'"5*# C%#*-6'F'"#%?)*%="C%<"#**%*+%,*-B0-"I" &,?)*=)*2%v#.*%Y)*%F"5#.-)'0"%*5%+, 0$F,0,% 0*+% VQ% C% #B+"% *5% +"#% rQ% <)0" ,I<+',-#*L%#'*50"%="C%)5%*5F+,6*%<"F" ,<."%<,-,%*+%0*#,--"++"%0*%+,%-*('B5L%.,5." *5% .)-'#I"% F"I"% *5% <-"0)F.'6'0,02

nJ+%<-'5F'<,+%Y,F."-%0*%-*.-,#"%Y)* )5,%#*-'*%0*%-*F)-#"#%0*%<-".*FF'B5%?)* #*%=,5%<-*#*5.,0"L%<*-"%0*#0*%?)*%#* +*6,5.B%+,%"-0*5%0*%5"%'55"6,-L%F"I" ("/'*-5"%5"#%F"--*#<"50'B%-*F'/'-%*#."#

nJ+% ,*-B0-"I"% &,?)*=)*% .'*5* 0'6*-#"#%<-"/+*I,#%*5%+,%,F.),+'0,0L F"I"%)5,%)/'F,F'B5%0*#Y,6"-,/+*%0*%+, <'#.,%0*+%,*-B0-"I"L%*5%-*+,F'B5%,%+"# 6'*5."#%<-*0"I'5,5.*#2%X,I/'$5%.'*5*

<-"C*F."#L% -*6'#,-+"#% ,% .-,6$#% 0*% +, j5'0,0%0*%D"5F*#'"5*#L%?)*%+'0*-,%*#., F"5#.-)FF'B5L% C% F"5% +"#% ,F)*-0"# F"--*#<"50'*5.*#% F"5% +,% 3'-*FF'B5 A*5*-,+%0*%7*-"5f).'F,%D'6'+L%?)*%*#%*+ "-(,5'#I"%.$F5'F"%?)*%Y'#F,+'h,%?)*%*+ ,*-"<)*-."%F)I<+,%F"5%+,#%5"-I,.'6,# .$F5'F,#%0*%,*-"5,6*(,F'B5i%0*#<)$# 0*% ."0"% *#"L% #*% =,% '5'F',0"% +, F"5#.-)FF'B5L% .*5'*50"% F"I"% Y*F=, <-*6'#.,% 0*% <)*#.,% *5% I,-F=,% 0*+ #*-6'F'"% <-"6'#"-'"% <,-,% *+% 0G,% P`% 0* Y*/-*-"%0*%PQRVoL%0*.,++,2

+'I'.,F'"5*#% YG#'F,#L% F"I"% +, 'I<"#'/'+'0,0% 0*% ,I<+',-% +,% <'#.,L F"I<+'F,F'"5*#%<"-%*+%-*+'*6*%<-*#*5.* <,-,% -,0'",C)0,L% F"I"% +"#% F*--"# F*-F,5"#L%C%+,%*-"#'B5%C%+,#%5*/+'5,#%0*+ -G"% D,).G5L% ?)*% #"5% +,% F,)#,% 0*% +,# +'I'.,F'"5*#%,+%="-,-'"%0*%+"#%6)*+"#L F"I"%0*%+,#%+,-(,#%*#<*-,#%?)*%#)Y-*5 +"#%<,#,8*-"#%*#<*F',+I*5.*%*5.-*%+"# I*#*#%0*%,/-'+%,%"F.)/-*oL%*5Y,.'h,%+, ,)."-'0,02 J5%.$-I'5"#%(*5*-,+*#L%*+%,F)*-0" F"5%+,%*I<-*#,%F"5F*#'"5,-',%'5F+)C* +,%F"5#.-)FF'B5%0*%+,%<'#.,%0*%,.*--'h,8*L *#.,F'"5,I'*5."%<,-,%,*-"5,6*#L%)5, ."--*%0*%F"5.-"+%0*%PN%I*.-"#L%)5%F),-.*+ 0*% '5F*50'"#L% )5% *0'Y'F'"% <,-,% +, ,0I'5'#.-,F'B5L%)5%*0'Y'F'"%<,-,%F,#'5" 0*+%<*-#"5,+L%#)/*#.,F'"5*#%*+$F.-'F,#L F,I'5"#%<*-'I*.-,+*#L%'5#.,+,F'B5%0* #*-6'F'"#%/f#'F"#L%#'#.*I,%0*%0-*5,8*L%+, 'I<+*I*5.,F'B5% 0*% )5,% *#.,F'B5 I*.*-*"+B('F,L%)5%*0'Y'F'"%0*%.*-I'5,+ 0*% <,#,8*-"#% [0*% )5% <'#"% C% I*0'"_L 6',+'0,0%0*%,FF*#"%[?)*%'5F+)C*%,FF*#"# 0*#5'6*+,0"#%C%)5%<)*5.*%#"/-*%*+%*#.*-" :*+,+*#_L%*#.,F'"5,I'*5."#%C%If#%[6*0*.,++*#%*5%*+%-*F),0-"_2

!!


""#&-%=&2,+&+#""

J+%,*-"<)*-."%.*50-f%)5%8,-0G5%'5.*-'"-%F"5%f-/"+*#%5,.'6"#2 nJ#%)5%,*-"<)*-."%0*%<-'I*-%5'6*+L ,% +,% ,+.)-,% 0*+% 0*% ;,5.',("L% 0*% /)*5 .,I,E"L%F"5%<"#'/'+'0,0%0*%F-*F'I'*5."L /)*5,%6'#'/'+'0,0%C%)5,%)/'F,F'B5%'0*,+L ?)*%5"%'5.*-Y'*-*%F"5%*+%*8*%0*%5"-.*%, #)-%C%?)*%5"%*#.f%.,5%F*-F,%0*%F*5.-"# <"/+,0"#L% <*-"% ,+% ,+F,5F*% .,5."% 0* X*I)F"%F"I"%0*%+,%h"5,%+,F)#.-*L%F"5 /)*5,% F"5*F.'6'0,0oL% ,(-*(,% @gE*h2 X"0"% *#."% #*% .-,0)F*% *5% )5, '56*-#'B5%0*%RP]%I'++"5*#%0*%0B+,-*# [\r% I'+% I'++"5*#% 0*% <*#"#_L% <)*#., G5.*(-,I*5.*% <"-% +,% #"F'*0,0 F"5F*#'"5,-',% ?)*% #*% ,08)0'FB% +, +'F'.,F'B5L%,%F,I/'"%0*%)5,%F"5F*#'B5 <"-% 6*'5.*% ,E"#% F"I"% Ifc'I"2% 9, *I<-*#,L% 4*+Y'% ;27% C% b"50"#% 0* H56*-#'"5*#% D&4% :-'I*L% ?)*% .-,#% +, ,08)0'F,F'B5%<,#B%,%++,I,-#*%;"F'*0,0 D"5F*#'"5,-',%7*-"<)*-."%7-,)F,5G, ;27L%*#.f%0*#,--"++,50"%*+%<-"C*F."%*5 \QQ%=*F.f-*,#L%0*%+,#%F),+*#L%#*(g5%*+ ;*-*I'L%5'5()5,%<*-.*5*F*%,+%.*--'."-'" '50G(*5,2

!M)(#%($.,'0#.,/'(&.(0,*-., %*3.8@($(8$($8/#,$(&.8(&.(W$%/*$='@ &.(6#.%(/$-$S'@(2'% 0')*6*8*&$&(&.(2,.2*-*.%/'@ 6#.%$(3*)*6*8*&$&(1(#%$ #6*2$2*G%(*&.$8@(4#.(%' *%/.,+*.,.(2'%(.8(.J.(&.(%',/.($ )#,(1(4#.(%'(.)/P(/$%(2.,2$(&. 2.%/,')(0'68$&')@(0.,'($8($82$%2. /$%/'(&.(>.-#2'(2'-'(&.(8$ R'%$(8$2#)/,.@(2'%(6#.%$ 2'%.2/*3*&$&?@(W.,=*'(D<S.R@ W.,.-*(&.(]6,$)(E<68*2$)I

*@CSE<1A13D)A>31AgAD

0*#,--"++"% *F"5BI'F"% -*('"5,+L% *+ <-"C*F."%<-"6"F,%.*I"-*#%C%0)0,#%*5 ."-5"% ,% .*I,#% I*0'",I/'*5.,+*#2

:,-,%4*.h,/$%1'6,#L%0)*E,%0*%)5, <,-F*+,%0*%,(-,0"%*5%+,#%I*0',5G,#%0*+ .*--*5"% 0*+% 5)*6"% ,*-"<)*-."L% C I'*I/-"% 0*+% D"I'.$% 0*% 70*+,5." 1)F,=)*%4,8"%^#*F."-%,+*0,E"%,+%-*F'5."^ #'% /'*5% #*% .-,.,% 0*% )5,% "/-,% ?)* <*-I'.'-f% 0'5,I'h,-% *+% .)-'#I"% C% *+

n;'% /'*5% *#% F'*-."% =,/-f% F"5#*^ F)*5F',#% <"#'.'6,#L% F"I"% )5,% I,C"'I<"-.,5F',% '5.*-5,F'"5,+% ,% 5)*#.-, F')0,0L%0'Y)#'B5%0*%5)*#.-,%F)+.)-,%F"5 I,C"-%Y,F'+'0,0%,%."0"%*+%I)50"L%C%)5 0*#,--"++"%0*+%.)-'#I"%,%(-,5%*#F,+,L .,I/'$5%=,/-f%".-,#%5*(,.'6,#L%F"I"%+,

!/

;J1AHS%@{|Jw <-*"F)<,F'B5% *5% +,% #*()-'0,0% *5% *+ .-f5#'."%0*%+"#%,6'"5*#%#"/-*%5)*#.-,# F,/*h,#L%+,%F"5.,I'5,F'B5%,Fg#.'F,2%p, 5"%=,/-f%0*#F,5#"%*5%+,#%<,-F*+,#%0* ,(-,0"%0*%,+-*0*0"-L%+,%F"5.,I'5,F'B5 0*+%J#.*-"%:*+,+*#L%F)C,#%,(),#%#"5%*+ -*(,0G"%0*%I)F=,#%="-.,+'h,#%C%/*/*0*-" 0*%,5'I,+*#oL%*5Y,.'h,%1'6,#22222222222222 n;*% =,5% -*6'#,0"% m'+"#% C% m'+"#% 0* <-"C*F."#% C% *#.)0'"#L% ,<-"/,50"% *+ F"58)5."%0*%<-"C*F."#L%<"-?)*%#"5%6,-'"# ^.*-I'5,+L%*#<,F'"#%F"I)5*#L%*.F2^L%*5 F"58)5."% F"5% )5,% #*-'*% 0*% ".-"#


""#&-%=&2,+&+#""

4JXw74v%1HK7;

&7j1HDHS%3J9%D7@XS

"-(,5'#I"#2% v#.*% *#% )5% ,*-"<)*-." .".,+I*5.*%#)#.*5.,/+*L%F"5%.*F5"+"(G, 0*%<)5.,%?)*%,I'5"-,%+"%If#%?)*%<)*0* *+%'I<,F."%,I/'*5.,+L%<"-?)*%*#,%Y)* )5,%F"50'F'B5%<,-,%+,%,08)0'F,F'B5%0* +,%*I<-*#,%F"5F*#'"5,-',nL%F"5.-,<"5* *+%;*-*I'2

5'0,0%C%0*%+,%-*('B5oL%0'F*22222222222222222222222

3*% ."0"#% I"0"#L% 1'6,#% 6,+"-,% *+ ,<"C"% ?)*% =,% 0,0"% *+% &'5'#.*-'"% 0* S/-,#%:g/+'F,#%*5%."-5"%,%I'.'(,F'"5*# C%F"I<*5#,F'"5*#%?)*%+*%=,5%<*-I'.'0" ,%*++,%C%,%".-"#%+)(,-*E"#%I*8"-,-%*5 <,-.*%#)#%F"50'F'"5*#%0*%6'0,%*5%*+%+)(,-2 n&f#% 0*% F'*5% Y,I'+',#% <"#.)+,-"5% , 0'Y*-*5.*#% .'<"#% 0*% <-"C*F."#% #"F'" F)+.)-,+*#L% <-"0)F.'6"#% 0*% *I<-*5^ 0'I'*5."%C%,#"F',.'6"#L%F)C"#%-*F)-#"# *#.,I"#%*#<*-,50"%<,-,%#)%*8*F)F'B52 p%*#."%#*%.-,0)F'-fL%#'%3'"#%?)'*-*L%*5 '56*-5,0*-"#L% *5% <+,5.,F'"5*#% 0* Y-).,+*#L%F'*--*#%<*-'I*.-,+*#L%(,++'5*-"#L <-"C*F."#%F"I"%+,%F-*,F'B5%0*%)5%F'5* -)-,+%C%I)F="#%".-"#L%?)*%*#<*-,I"# ?)*%,<"-.*5%,+%/'*5*#.,-%0*%+,%F"I)^

J5%*Y*F."L%*+%&S:L%*5%F"58)5."%F"5 +,%*I<-*#,%F"5F*#'"5,-',L%=,%0'#<)*#." )5%b"50"%0*%D"I<*5#,F'B5%0*%If#%0* PP\%I'++"5*#%0*%<*#"#%*#.*%PQRPL%<,-, \QQ%<-"C*F."#%,%Y"50"#%F"5F)-#,/+*#L .,5."%<-"0)F.'6"#L%-*+'('"#"#%"%F)+.)-,+*#2 J#.*%Y"50"%#*%*c.*50*-f%<"-%F),.-"%,E"#L <"-%)5%I"5."%0*%RQQ%I'++"5*#%0*+%PQR` *5%,0*+,5.*2 70*If#L%*+%J#.,0"%=,%0*#.'5,0"%If# 0*% N% I'+% I'++"5*#% <,-,% "/-,#% 0* I'.'(,F'B5L% 0*% ,0*+,5."% *5% '5Y-,^ *#.-)F.)-,%<g/+'F,%C%<-'6,0,L%?)*%.'*5*5 ?)*%6*-%5"%#B+"%F"5%<)*5.*#%C%F,I'5"# *5% +,#% F"I)5'0,0*#% ,+*0,E,#L% #'5" .,I/'$5% F"5% "/-,#% ?)*% =,% =*F="% *+ &'5'#.*-'"%0*%7(-'F)+.)-,L%*5%'5F*5.'6"L *+%&'5'#.*-'"%0*%K'6'*50,%C%j-/,5'#I"L ,%.-,6$#%0*%#)/#'0'"#%*#<*F',+'h,0"#%C *#<*FGY'F"#% <,-,% +,#% F"I)5'0,0*# ,Y*F.,0,#L%+,%D"5,0'L%*+%&'5'#.*-'"%0* 4'*5*#%@,F'"5,+*#%C%)5,%#*-'*%0*%".-"#

!:9.8($.,'0#.,/';(+$3',.2.,P($ 4#.(#%(-$1',(%<-.,'(&. 0.,)'%$)(.8*J$%(2'-'(&.)/*%' %#.)/,$(,.=*G%@(. *%&#&$68.-.%/.(+$2*8*/$,P(8$ 2'-.,2*$8*R$2*G%(&.(0,'&#2/') 4#.(,.4#*.,.%(&.(#%(,P0*&' /,$)8$&'@(*%/.=,P%&'%')($(#% 2'-.,2*'(=8'6$8*R$&'?@ B$#,*2*'(&.8("$%/'@(E,.)*&.%/. &.(8$("P-$,$(&.("'-.,2*'(1 >#,*)-'(&.(>.-#2'I #*-6'F'"#%C%/'*5*#%?)*%#*%=,5%<)*#."%, 0'#<"#'F'B52

D3*?@=)!=<HA1@ :,-,%&,)-'F'"%0*+%D,5."L%:-*#'0*5.* 0*%+,%DfI,-,%0*%D"I*-F'"%C%X)-'#I" 0*% X*I)F"L% +,% -*('B5% #*% I*-*FG,% )5 ,*-"<)*-."%0*%F,.*("-G,2%n@"%*#%<"#'/+* ?)*%="C%*5%0G,L%*5%<+*5"%#'(+"%}}HL%#* .*5(,5% ?)*% #)#<*50*-% 6)*+"#% <"-,h"5*#%F+'If.'F,#%C%Y,+.,%0*%.*F5"+"(G,L ,#G%?)*%.*5*-%)5%,*-"<)*-."%I"0*-5"L ?)*%<*-I'.,%)5%.-f5#'."%,$-*"%F"5.'5)" C%#*()-"L%Y,6"-*F*-f%,%?)*%)5%I,C"5gI*-"%0*%<*-#"5,#%*+'8,5%F"I"%0*#.'5" 5)*#.-,% -*('B5L% *% '50)0,/+*I*5.* Y,F'+'.,-f% +,% F"I*-F',+'h,F'B5% 0* <-"0)F."#%?)*%-*?)'*-*5%0*%)5%-f<'0" .-,#+,0"L%'5.*(-f50"5"#%,%)5%F"I*-F'" (+"/,+'h,0"oL%#*E,+,2

+K(&/93%:+C93%89MO+2+C.093 7*-B0-"I"%&,?)*=)*

@)*6"%7*-"<)*-."%H5.*-5,F'"5,+

S-'*5.,F'B5%0*%+,%<'#.,%0*%*#.*%,%"*#.*

S-'*5.,F'B5%0*%+,%<'#.,%0*%5"-.*%,%#)-

:'#.,%0*%,.*--'h,8*%0*%R2WQQ%I*.-"#%0*%+,-("%<"-%V\%0*%,5F="

:'#.,%0*%P2VVQ%I*.-"#%0*%+,-("L%<"-%V\%0*%,5F="

J#.,F'"5,I'*5."#%<,-,%.-*#%,*-"5,6*#

J#.,F'"5,I'*5."#%<,-,%F),.-"%,*-"5,6*#

K'#'/'+'0,0%IG5'I,%<,-,%,.*--'h,8*%0*%P2QQQ%I*.-"#

K'#'/'+'0,0%IG5'I,%<,-,%,.*--'h,8*%0*%PQQ%I*.-"#

j.'+'h,F'B5%0*%+,%<'#.,%0*<*50'*5.*%0*%F"50'F'"5*#%F+'If.'F,#

j.'+'h,F'B5%0*%+,%<'#.,%#)<*-'"-%,+%r\u%0*%+,#%6*F*#

R%#'#.*I,%0*%+)F*#%0*%,<-"c'I,F'B5

P%#'#.*I,#%0*%+)F*#%0*%,<-"c'I,F'B5

;'5%<)*5.*#%0*%*I/,-?)*%[I,5(,#_

`%<)*5.*#%0*%*I/,-?)*%[I,5(,#_

P2`QQ%I*.-"#%F),0-,0"#%0*%F"5#.-)FF'B5%C%.*--*5"%*5%.".,+

J0'Y'F'"%.*-I'5,+%0*%<,#,8*-"#%0*%F,#'%\%I'+%I*.-"#%F),0-,0"# [V2rQQ_

X*-I'5,+%0*%<,#,8*-"#%#'5%F,+*Y,FF'B5%F*5.-,+ 9,%-).,%0*%,<-"c'I,F'B5%C%0*#<*()*%#"/-*6)*+,%<"/+,F'B5 )-/,5,%0*%X*I)F"%C%:,0-*%9,#%D,#,#

X*-I'5,+%0*%<,#,8*-"#%F"5%F,+*Y,FF'B5%F*5.-,+

!3


""#&-%=&2,+&+#""

X"I,%,$-*,%0*%+,%F"5#.-)FF'B5%0*+%,*-"<)*-."2 +,%#)<*-Y'F'*%Y-).,+%0*%+,%-*('B5%*5%r\L`u *5%+"#%g+.'I"#%#*'#%,E"#L%++*(,50"%,%+,# W2P]W%=*F.f-*,#2 :"-%".-,%<,-.*L%F'Y-,#%#"#.'*5*5%?)* F*-F,%0*+%\Qu%0*+%,F.'6"%-*('"5,+%6'*5* 0*+%#*F."-%,(-GF"+,L%<"-%*#"%*#%?)*%*#.* #*F."-L%,0*If#%0*+%.)-'#I"L%#*-G,%)5" 0*%+"#%If#%/*5*Y'F',0"#%F"5%*+%5)*6" <)*-."%,$-*"L%C,%?)*%*+%.*5*-%)5%<)5." 0*#0*%0"50*%#*%<)*0,5%=,F*-%F,-(,#%, ".-"#%<,G#*#L%#'5%.*5*-%?)*%<,#,-%<";,5.',("L%#*-G,%)5%(-,5%,6,5F*2222222222

&71~7%KHDXS1H7%:JXJ1&7@@ JY*F.'6,I*5.*L%9,%7-,)F,5G,%=,%'0" #)<*-,50"%#)#%F'Y-,#%0)-,5.*%*+%g+.'I" <*-G"0"2% J+% F-*F'I'*5."% 0*+% <-'I*#*I*#.-*%0*+%PQRP%#)<*-B%*+%\uL%C%*#.)6" <"-%*5F'I,%0*+%F-*F'I'*5."%<-"I*0'" 0*+% <,G#L% .,I/'$5% #*% +"(-B% -*0)F'#)#.,5F',+I*5.*%+,%.,#,%0*%0*#*I<+*"2 !)5."%F"5%*#"%*+%F-*F'I'*5."%0*+%#*F."Y-).GF"+,%=,%#'0"%5".,/+*L%,)I*5.,50"

!;

&,-G,%K'F."-',%:*.*-I,55L%*I<-*^ #,-',%6'.'6'5GF"+,%C%,%#)%6*h%I'*I/-"%0* +,% 7#"F',F'B5% A-*I',+% 7-,)F,5G, b-).GF"+,L%<*-F'/*%*+%5)*6"%,*-"<)*-." F"I"% '50'#<*5#,/+*2% n;'% ?)*-*I"# F-*F*-% .*5*I"#% ?)*% .*5*-% )5% /)*5 ,*-"<)*-."L% *#"% *#% 6'.,+L% C% *#% '50'#^ <*5#,/+*%?)*%F"I"%-*('B5%.*5(,I"# )5"%F"I"%3'"#%I,50,2%:*-#"5,+I*5.* *#.*%5)*6"%,*-"<)*-."%I*%/*5*Y'F',L <"-?)*% I*% ."F,% 6',8,-% =,-."% 0*% ,?)G <,-,%,++fL%C%&,?)*=)*%#*%*#.f%=,F'*50" F='F"2%:*-"%.,I/'$5%*#%5*F*#,-'"%)5 <)*-."% I,-G.'I"L% ?)*% *#<*-"% #*,% *+ <-Bc'I"%<-"C*F."oL%<-"<"5*2

;'% /'*5% *+% )#"% 0*Y'5'.'6"% 0*% *#.* ,*-"<)*-."% 6,% ,% 0*<*50*-% 0*% +,# F"50'F'"5*#%0*+%I*-F,0"L%*+%;*-*I'%0* S/-,#%:g/+'F,#%F-**%?)*%*#.,-f5%."0,# +,#%F"50'F'"5*#%<,-,%?)*%$#.*%Y)5F'"5*2 n;"5%+,#%*I<-*#,#%<-'6,0,#%0*%,*-"+G5*,# C%,*-"F,-("%+,#%?)*%*5%0*Y'5'.'6,%.'*5*5 ?)*%6*-%#'%'5F+)C*5%,%+,%F')0,0%0*5.-" 0*%#)%-).,L%<*-"%F-**I"#%?)*%,#G%#*-fL <"-%*+%0*#,--"++"%0*%+,%-*('B5L%#"/-*%."0" *5% #)#% f-*,#% <-"0)F.'6,#L% *5% *+ F-*F'I'*5."%*c<,5#'6"%?)*%=,%.*5'0" *5%+"#%F)+.'6"#%0*%-,<#L%0*%/*--'*#L%0* .-'("L%0*%<,<,#2%J+%#*F."-%0*%F,-(,%#*%6, ,% '-% ,-I,50"% *5% +,% I*0'0,% ?)*% *+ I*-F,0"%,#G%+"%0*.*-I'5*oL%0'F*222222222222 :"-%*+%I"I*5."%*+%<-"C*F."%,6,5h, 6'*5."%*5%<"<,L%+,#%F"I)5'0,0*#%*#.f5 #'*50"%,.*50'0,#%C%/*5*Y'F',0,#%C%+"# <-'6,0"#%*#.f5%,%+,%*c<*F.,.'6,2%X"0"%, +,% *#<*-,% 0*% ?)*% +,% 1*('B5% 0*% 9, 7-,)F,5G,%<)*0,%'5.*-5,F'"5,+'h,-#*%C F"5%*++"%I*8"-,-%#)#%"<"-.)5'0,0*#%C F"I<*.'.'6'0,02


""#>.1',2.$#""

P-)?A%O<'E-$%O)AI<-%/*H<-'*>%=A%Q<FE-)<*B

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

!5


""#>.1',2.$#""

$

)5?)*% !"-(*% :'5."% *# "-')50"% 0*+% 5"-.*% 0* D='+*L%*+%0*#.'5"%+"%.-,8" ,+% #)-% <,-,% .-,/,8,F"I"% : -"Y*#"-% 0* U'#."-',%C%A*"(-,YG,%*5 +,% j5'6*-#'0,0% 0*% 9,% b-"5.*-,% 0* X*I)F"L%0"50*%+,/"-,%=,F*%F,#'%.-*'5., ,E"#%C%0*#0*%0"50*%=,%<)/+'F,0"%+'/-"# ?)*%="C%<"-%="C%+"%=,5%++*6,0"%,%#*)5"%0*%+"#%,F,0$I'F"#%If#%0*#.,F,0"# 0*%#)%f-*,L%,+%-*F'/'-%*5%,("#."%0*%PQRP *+%:-*I'"%@,F'"5,+%0*%U'#."-',L%"."-(,0" <"-% *+% &'5'#.*-'"% 0*% J0)F,F'B5% 0*+ A"/'*-5"%0*%D='+*2 J#.*% 3"F."-% *5% b'+"#"YG,% F"5 I*5F'B5%*5%U'#."-',L%0*%+,%j5'6*-#'0,0 0*%;").=,I<."5L%H5(+,.*--,L%#*%F"5Y'*#, )5% ,Y'F'"5,0"% ,+% Yg./"+L% Y,5f.'F"% 0* 9,.'5",I$-'F,%^F"5"F*%<-fF.'F,I*5.* ."0"%*+%F"5"%#)-%C%+*%()#.,%*+%Y"+F+"-* !"#$#$%^% C% 0*% #)#% ,+)I5"#L% F"5 ?)'*5*#%.'*5*%)5,%-*+,F'B5%*#.-*F=,L%, <*#,-%0*%?)*L%#*(g5%0'F*L%*#."%#*,%<"+,%I,0)-*h%?)*%+*%=,5%0,0"%+"#%,E"#L C,%?)*%,+%<-'5F'<'"%5"%*-,%,#G22222222222 U"CL%F)+.'6,%#)%=)I'+0,0%0*%#'*I<-*2 3'F*%?)*%*+%<-*I'"%+"%."IB%<"-%#"-<-*#,L <*-"% +"% ,(-,0*F*% <"-?)*% n-*#)*+6* I)F=,#%#'.),F'"5*#%*F"5BI'F,#%?)*%, *#.,% ,+.)-,% 0*% +,% 6'0,% F"56'*5*% '#"+)F'"5,50"oL%#"#.'*5*L%C%<"-?)*%F-** ?)*%#*()-,I*5.*%#*%+*%"."-(B%F"I"%)5, #*E,+%0*%-*#<,+0"%,%+,#%-*('"5*#%C%,%+, *0)F,F'B5%<g/+'F,L%*5%*+%I,-F"%0*%+, F"5.'5(*5F',%5,F'"5,+2

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g+.'<+*#%6*5.,8,#L%,)?)*%<"-%F'*-."%)5" *#.f%Y)*-,%0*+%Y"F"%0*%,.*5F'B5L%<"-?)* *#.,-%*5%;,5.',("%<,-,%,+()5"#%#'(5'Y'F, *#.,-%*5%D='+*2

75(=&$%)$)($0%&'32.#$3/#$%&$3>03(&/$+% ,2)*/02'+/0%)6$'&$)%0$()*%+$+%$0%;2.#< J#% I)C% /)*5,% *5% (*5*-,+L% +, F"I)5'0,0%0*%='#."-',0"-*#%F='+*5"#%*# )5,%F"I)5'0,0%I)C%#,5,L%#"I"#%."0"#

!7

I)C%/)*5"#%,I'("#L%F"+,/"-,0"-*#%?)* 5"#%F"I<+*I*5.,I"#L%0*#0*%7-'F,%=,#., :)5.,%7-*5,#L%C%#'*I<-*%5"#%*#.,I"# -*)5'*50"L%<"-%+"%?)*%<"0-G,%0*Y'5'?)*%*#%)5,%-*+,F'B5%I)C%/)*5,%C%I)C ,(-,0,/+*2

7A2%#*%$'&;(#'$40%)2.#6$4'0'$)%;(20 ,'32%#+/$ (#$ *0'-'?/$ +%)*'3'+/6 +%)4(N)$+%&$40%12/< X"0"% +"% F"5.-,-'"L% I*% #'*5."% F"5 I)F=,% +'/*-.,02% ;G% *#."C% #'*50" -*?)*-'0"%0*%0'#.'5.,#%'5#.,5F',#L%<*-" *#% )5,% <-*#'B5% I)C% (-,.,% C% -*F"5^ Y"-.,5.*L%?)*%,%)5"%+*%=,F*%<*5#,-%?)* *#.*%<-*I'"%+*%<*-.*5*F*%,%+,%F"I)5'0,0 0*% '56*#.'(,0"-*#% *% ='#."-',0"-*# )5'6*-#'.,-'"#L%<"-%+"%.,5."%*#,#%<-*#'"5*# #"5%#'*I<-*%/'*56*5'0,#2

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fY'F,L%0*#0*%*+%#'(+" }H}%+"#%='#."-',0"-*#%,+F,5h,-"5%F'*-., (-,6'.,F'B5% *5% +,% *#Y*-,% <g/+'F,L <-'5F'<,+I*5.*%<"-?)*%Y)*-"5%?)'*5*# 0'#*I'5,-"5%+,%<"+G.'F,%*0)F,F'"5,+%0*+ <,G#2%p%*5%*+%#'(+"%}}%=,5%0*#.,F,0" ='#."-',0"-*#% F"I"% &,-'"% AB5("-,L ;*-('"% K'++,+"/"#% "% A,/-'*+% ;,+,h,-2

"#$%)*%$)%#*2+/6$73(=&$%)$%&$0/&$+%$&') (#28%0)2+'+%)$ :$ &')$ 2#)*2*(32/#%) 49-&23')$ %#$ 1'#*%#%0$ #(%)*0' 1%1/02'$%$2+%#*2+'+< X'*5*5%)5,%I'#'B5%Y)50,I*5.,+L <"-?)*%#"5%?)'*5*#%0*%,+()5,%I,5*-, -*#F,.,5%"%F"5#*-6,5%*#,%I*I"-',L%C 0*/*5%.-,5#I'.'-+,2%;*%<)*0*%=,F*-%, .-,6$#% 0*% +,% Y"-I,F'B5% 0*% +"# <-"Y*#'"5,+*#% C% *5% +,% 0'Y)#'B5% 0*+ F"5"F'I'*5."L%F"5%+,#%<)/+'F,F'"5*#%C *5F)*5.-"#L%<*-"%#*%=,F*%*#F,#,I*5.* )5%.-,/,8"%F"5%+,%F"I)5'0,0%C%F-*"%?)* ,=G%*c'#.*%)5,%+'I'.,F'B5%?)*%0*/*I"# #)<*-,-2

!A=?<*<!A*<dE)*<S1A1AEA)c C@H<C<3E?@D)D@*<A>3D 75.1/$ %8'&9'$ &'$ 3'&2+'+$ +%$ &' %+(3'32.#$'3*('&$%#$5,2&%6$'$40/4.)2*/


""#>.1',2.$#""

!M8(.-0'&.,$-*.%/'(&.(8$ )'2*.&$&(2*3*8(2'%)/*/#1.(#%' &.(8')(+$2/',.)(-P)(*%/.,.)$%/.) 4#.(.)/$-')('6).,3$%&'(5'1(.% &7$(1(4#.(0,'6$68.-.%/.(3$($ -'&*+*2$,(.8(,#-6'(&.(%#.)/,$ 5*)/',*$(.%(8')(0,GQ*-')($S')?I +%$&'$+2)3()2.#$)/-0%$&'$%+(3'32.# ;0'*(2*'< 9,%*0)F,F'B5%*5%D='+*%5"%*#%I,+,L F"5"hF"%<-'5F'<,+I*5.*%+,%)5'6*-#'.,-', C% F-*"% ?)*% #*% Y"-I,5% (-,50*# <-"Y*#'"5,+*#% C% /)*5"#% +G0*-*#2% 9, *0)F,F'B5% #*F)50,-',% C% /f#'F,% .'*5* 0*Y'F'*5F',#L%<*-"%5"%<"-%-*#<"5#,/'+'0,0 0*%+"#%<-"Y*#"-*#%"%Y,+.,%0*%F,<,F'0,0 0*%+"#%*#.)0',5.*#L%#'5"%<"-?)*%."0,6G, 5"%*#.f5%."0"#%+"#%-*F)-#"#%,%0'#<"#'F'B5 <,-,%?)*%$#.,%#*%<)*0,%0*#*56"+6*-%*5 Y"-I,%B<.'I,L%#"/-*%."0"%+,%*0)F,F'B5 <g/+'F,L%?)*%*#%*+%<,-'*5.*%<"/-*%0*%+, *0)F,F'B5% *5% D='+*L% +"% ?)*% *# '5,F*<.,/+*%*%'I<-*#*5.,/+*%*5%)5%<,G# F"I"%*+%5)*#.-"2

"&$1/8212%#*/$%)*(+2'#*2&$%)$4'0*% +%$(#$Y%14/+%0'12%#*/Z$32(+'+'#/ D(%$*'1-2N#$)%$1'#2E2%)*'$%#$&')$0%+%) )/32'&%)!$7O(N$&%$4'0%3%$%)*'$)2*('32.# :$3.1/$30%%$D(%$2#E&(:%$%#$&'$,2)*/02' +%$#(%)*0/$4'>)< D-*"%?)*%*#%5".,/+*L%<"-?)*%#*%*#.f *#F)F=,50"%+,%6"h%0*%+,%F')0,0,5G,2%9" ?)*%=,%<,#,0"%*5%+,#%g+.'I,#%*+*FF'"5*# *#%*+"F)*5.*L%*#*%]Qu%0*%?)'*5*#%5" Y)'I"#%,%6".,-%0,%F)*5.,%0*%)5,%"<'5'B5 C,%F,#'%(*5*-,+'h,0,%0*%+,%F+,#*%<"+G.'F,L ?)*% 5"% *#.f% -*#<"50'*50"% ,% +,# *c<*F.,.'6,#%0*%+,%F')0,0,5G,L%<"-%+" .,5."%*#%)5%Y)*-.*%++,I,0"%0*%,.*5F'B5 ,% ."0"#% +"#% #*F."-*#% <"+G.'F"#2% J+ *I<"0*-,I'*5."%0*%+,%#"F'*0,0%F'6'+ F"5#.'.)C*% )5"% 0*% +"#% Y,F."-*#% If# '5.*-*#,5.*#%?)*%*#.,I"#%"/#*-6,50" ="C%*5%0G,%C%?)*%<-"/,/+*I*5.*%6,%, I"0'Y'F,-%*+%-)I/"%0*%5)*#.-,%='#."-', *5%+"#%<-Bc'I"#%,E"#2

75.1/$ 30%%$ D(%$ )%$ 82)&(1-0'$ %& 4'#/0'1'$+%$'D(>$%#$'+%&'#*%<!!!!!!!!! J5%D='+*%+,%"<'5'B5%?)*%#*%.'*5*%0* +,%F+,#*%<"+G.'F,%*#%?)*%#*%=,%#*<,-,0" 0*%+,%F')0,0,5G,L%C%0*#0*%9,%&"5*0, #*% =,F*5% <"F"#% *#Y)*-h"#% <,-, F"I<-*50*-%,%+,%#"F'*0,0%F'6'+2%:'*5#" ?)*% *#.*% I"0*+"% n*I<-*#,-',+o% " n(*-*5F',+o% 5"% #'-6*% <,-,% +,% <"+G.'F,

F".'0',5,L% =,% 0*I"#.-,0"% #)% If# ,/#"+).,% '5*Y'F,F',L% <"-?)*% +,# #*5#'/'+'0,0*#%#"F',+*#%#"5%0'#.'5.,#%C )5% <"+G.'F"% .'*5*% +,% "/+'(,F'B5% 0* F,).'6,-L%+"%?)*%5"%=,%"F)--'0"%*5%*+ g+.'I"%.'*I<"2%9"#%-*#<"5#,/+*#%#"5 I)F="#%0*%+"#%?)*%*#.f5%,="-,%*5%*+ ("/'*-5"%C%I)F="#%0*%+,%"<"#'F'B5%?)* =,5% .*5'0"% )5,% ,F.'.)0% ?)*% +, F')0,0,5G,%*#.f%F,#.'(,50"2

=3*@E@*<C<3E?@)CA!S*W3 J+%+'/-"%n9,%Y"-I,F'B5%0*+%J#.,0"%C +,%5,F'B5%&,<)F=*o%0*%!"-(*%:'5."%.-,., #"/-*%+,%++*(,0,%0*+%J#.,0"%,%+,%-*('B5 0*%9,%7-,)F,5G,%C%#)#%*Y*F."#L%*5%+"%?)* ="C%#*%0*5"I'5,%nF"5Y+'F."%I,<)F=*o2 :*-"%.,I/'$5%=,%=*F="%,<"-.*#%*5%+, I,.*-',% 0*#0*% #)% I*I/-*#G,% *5 '5#.'.)F'"5*#%F"I"%*+%(-)<"%0*%='#."-', 0*%+,%D"I'#'B5%K*-0,0%C%@)*6"%X-,."

!8


""#>.1',2.$#"" F"5%+"#%:)*/+"#%H50G(*5,#L%*+%(-)<"%0* .-,/,8"%0*%='#."-',%0*+%D"5#*8"%@,F'"5,+ 0*%H56*#.'(,F'B5%D'*5.GY'F,%C%X*F5"+B('F, [D"5'FC._L%C%,%.-,6$#%0*%#)%+,/"-%F"I" F"5#)+."-%0*%+,%DfI,-,%0*%3'<).,0"# *5%I,.*-',#%'50G(*5,#2

A%;9#$)($'#=&2)2)6$74/0$D(N$)%$40/+(3% %&$Y3/#E&23*/$1'4(3,%Z< U,C%?)*%<,-.'-%0*%+,%/,#*%?)*%*#.* *#%)5%F"5Y+'F."%?)*%F-*B%*+%J#.,0"%*5%*+ #'(+"%}H}L%C%+"%F-*B%<"-%6,-',#%-,h"5*#2 J5% <-'I*-% +)(,-% <"-?)*% ,F.)B% F"5 I)F=,%6'"+*5F',L%C%*#"%(*5*-B%=*-'0,# ?)*%,g5%5"%F'F,.-'h,52%J5%#*()50"%+)(,5"%Y)*%F,<,h%0*%F"5.*5*-%*#,%6'"+*5F',L <"-%+"%?)*%*+%-"/"%0*%.'*--,#L%+"#%,/)#"#L +,#%'58)#.'F',#%#*%#'()'*-"5%F"I*.'*50" ,g5%F),50"%*+%J#.,0"%C,%*#.,/,2%p%*5 .*-F*-% +)(,-% *+% J#.,0"% '56'#'/'+'hB% *+ F"5Y+'F."L%,%<*#,-%0*%+,#%<-".*#.,#%C%+,# 0*5)5F',#2

7U$ &'$ 82/&%#32'$ /$ &')$ 1%+2+')$ +% 40%)2.#$D(%$%?%03%#$&/)$1'4(3,%<!!!!!! j5"% .'*50*% ,% -*F=,h,-% ."0,#% +,# I*0'0,#%0*%<-*#'B5%?)*%6,5%,#"F',0,# ,%+,%6'"+*5F',L%<*-"%.,I/'$5%=,C%-,h"5*# <,-,%=,F*-+"2%J+%<)*/+"%I,<)F=*%,%+" +,-("%0*%#)%='#."-',%=,%,<-*50'0"%?)* #B+"%*#,#%I*0'0,#%+"(-,5%#*5#'/'+'h,-%, F'*-."#%#*F."-*#%0*%+"#%<"0*-*#%0*+%<,G#L C%I)F=,#%6*F*#%?)'*5*#%=,5%."I,0" *#,#%,F.'.)0*#%.'*5*5%-,h"5*#%0*%<*#" <,-,%*++"2%@"%+"#%*#."C%8)#.'Y'F,50"L%<*-" .,I<"F"%+"#%F"50*5"2

%$!&

'

/:

!:(8$(28$3.(.)/P(.%(2'%2.&.,8. $(8$(,.=*G%(8')(,.2#,)')(4#.(N)/$ -*)-$(=.%.,$@(4#.(8.(0.,-*/$% $(8$)(2'-#%*&$&.)(-$0#25. &.).%3'83.,).(&.(-.J',(-$%.,$@ 1(4#.(8$(.%/,.=$(&.(/*.,,$)(3.%=$ 2'%(0'87/*2$)(.%(&'%&.(8$) -*)-$)(2'-#%*&$&.)().$% =.)/',$)(&.()#(0,'0*' &.)$,,'88':?I 7O(N$4')/)$+%-2%0'$+'0$%&$")*'+/$4'0' )/&(32/#'0$%&$*%1'6$1=)$'&&=$+%$&/) 0%3(0)/)$:$&'$%#*0%;'$+%$*2%00')<!!!!!! 9,%I*8"-%I,5*-,%0*%-*#"+6*-%*#.* F"5Y+'F."%*#%*+%0'f+"("L%'5F+)C*5.*L%?)* F " 5 . * 5 ( , % , % . " 0 " # % + " # % , F . " -* # '56"+)F-,0"#L%,g5%F"5%,?)*++"#%?)*%5" *#.f5%0*% ,F)*-0"% F"5% *+% ("/'*-5"% 0* .)-5"L%<"-?)*%*+%*--"-%=,%#'0"%8)#.,I*5.* <,-+,I*5.,-%F"5%,?)*++"#%F"5%+"#%?)* *#% If#% YfF'+% *5F"5.-,-% 6G5F)+"#% " *5.*50'I'*5."2%:*-"%.,I/'$5%#*%F"I*.* )5%*--"-%F),50"%#*%=,/+,%0*%n*5.-*(, 0*%.'*--,#oL%<"-?)*%*#%F"I"%0*F'-%?)* #*%+,#%*#.f5%0"5,50"2%J#%+,%n0*6"+)F'B5o 0*% .'*--,#% ?)*% Y)*-"5% )#)-<,0,#% " ,0?)'-'0,#%Y-,)0)+*5.,I*5.*2%X,I/'$5 F-*"% ?)*% =,C% )5,% #*-'*% 0*% -*F"5"F'^

I'*5."#% ?)*% 0*/*5% ,F"I<,E,-% +, 0*6"+)F'B5%0*%.'*--,#2%J+%-*#<*."%<"-%#) '0*5.'0,0L%<"-%#)#%<-fF.'F,#%F)+.)-,+*#L <"-%+,%0'6*-#'0,0L%+,%I)+.'F)+.)-,+'0,0 C%<"-%+,%<+)-,+'0,02%J5%*+%#'(+"%}}H%F-*" ?)*% +"#% *#.,0"#% C% +,#% 5,F'"5*#% =,5 *6"+)F'"5,0"%,+%<)5."%?)*%*#%<"#'/+* ?)*%*5%)5%J#.,0"%#"/-*6'6,5%0"#%"%.-*# 5,F'"5*#%0'#.'5.,#%?)*%F"I<,-.,5%0* =*F="% )5% .*--'."-'"L% ,)5?)*% F-*"% 0* ."0,#% I,5*-,#% *#% )5% .*I,% /,#.,5.* F"I<+*8"2

K'$L0'(3'#>'$E(%$E(#+'+'$1=)$*'0+% D(%$%&$0%)*/$+%&$4'>)6$730%%$D(%$N)*' )%0>'$(#'$+%$&')$3'()')$+%$)($0%*0')/ %#$1'*%02'$+%$+%)'00/&&/< @"% 5*F*#,-',I*5.*L% =,C% ".-"# Y,F."-*#% ?)*% '5.*-6'*5*5L% F"I"% +, 6"F,F'B5%F*5.-,+'#.,%0*%*#.*%<,G#%^?)* ,Y*F.,%+"#%'5.*-*#*#%-*('"5,+*#^L%C%*+%$c"0" 0*%+"#%-*F)-#"#%0*%*#.,%h"5,L%<"-?)*%$#., *#% )5,% -*('B5% ?)*% *c<"-.,% -'?)*h,% C .*-I'5,%(*5*-,50"%<"/-*h,2%X,I/'$5 =,C%Y,F."-*#%?)*%#"5%<-"<'"#%0*%+,%-*('B5 F"I"%)5%*I<-*#,-',0"%?)*%5"%Y)*%F,<,h 0*%0'6*-#'Y'F,-%+,%*F"5"IG,2%D-*"%?)*%+, F+,6*%*#.f%*5%F"5F*0*-+*%,%+,%-*('B5%+"# -*F)-#"#%?)*%$#.,%I'#I,%(*5*-,L%?)*%+* <*-I'.,5%,%+,#%F"I)5'0,0*#%I,<)F=* 0*#*56"+6*-#*%0*%I*8"-%I,5*-,L%C%?)* +,%*5.-*(,%0*%.'*--,#%6*5(,%F"5%<"+G.'F,# *5%0"50*%+,#%I'#I,#%F"I)5'0,0*#%#*,5 (*#."-,#%0*%#)%<-"<'"%0*#,--"++"L%5"%, .-,6$#%0*%<"+G.'F,#%,#'#.*5F',+'#.,#222222

!"#$%&$%'())$*

-(.&)$&/$01(+2+*

!895/"&:"2$%5;"*

;*-%='8"%0*%)5,%<-"Y*#"-,%<-'I,-',%C 0*% )5% *I<+*,0"% <g/+'F"2% U,/*-I* *0)F,0"% *5% )5,% *#F)*+,% <g/+'F,% 0* X"F"<'++,L% *5% )5% +'F*"% *#.,.,+% *5 75."Y,(,#.,L% =,/*-% F"5.'5),0"% I'# *#.)0'"#%*5%+,%j5'6*-#'0,0%0*%D='+*%C =,/*-% .-,/,8,0"% *5% +,% )5'6*-#'0,0 <g/+'F,2%X,I/'$5%#'*5."%"-()++"%<"=,/*-% *#F-'."% #"/-*% I'% <,G#% *5% )5 I"I*5."%0*%5)*#.-,%='#."-',%?)*%=, *#.,0"%F-)h,0"%<"-%*<'#"0'"#%Y*+'F*#%C ,%6*F*#%0-,If.'F"#2

J+%0"+"-L%+,%*5Y*-I*0,0%C%+,%'58)#.'F',2 X,I/'$5%+,%6'0,%0*%,?)*++"#%?)*%=,5 .*5'0"%?)*%,/,50"5,-%,%#)%(*5.*L%,%#) .'*--,L%<,-,%*5F"5.-,-%)5%0*#.'5"%I*8"-2 J+% 0*#,--,'("% I*% F"5I)*6* .-*I*50,I*5.*2

9,%Ig#'F,%+,.'5",I*-'F,5,2%&*%()#., I)F="%*+%!"#$#$%L%)5,%Ig#'F,%0*%+, h"5,% 0*% I'#'"5*#% 0*% 7-(*5.'5,% C :,-,(),CL%?)*%*#F)F="%*5%I"I*5."# 0*%-*+,8"2

!"#$%&")+'%,"* J+%5,F'I'*5."%0*%I'#%='8"#L%#'5%0)0,L C% *5.-,50"% ,% +,% .*-F*-,% *0,0L% *+ 5,F'I'*5."%0*%I'#%5'*."#L%+,%F"I<,EG, ?)*%=*%.*5'0"%0)-,5.*%."0"#%*#."#%,E"# 0*%I'%*#<"#,%C%*+%,Y*F."%?)*%=*%#*5.'0" g+.'I,I*5.*%0*%I'#%,+)I5"#2%J#"%I* -*F"5Y"-.,2

-(.&)$&+0$3"* 7%*#.,#%,+.)-,#%0*%I'%6'0,L%I*5"#%F"#,# ?)*% F),50"% *-,% 8"6*5L% <*-"L% *5 <,-.'F)+,-L%*+%,/)#"%0*%<,-.*%0*%I)F=,# *I<-*#,#% ?)*% 5"#% I,+.-,.,5% C% 5"# F,#.'(,5L%,%6*F*#%=,#.,%5"#%=)I'++,52

456%$&7+&/"6+/+%"* K,-'"#L%F"I"%+,#%<"*#G,#%0*%4*Fm*-L%+, <"*#G,%0*%A,/-'*+,%&'#.-,+%C%0*%:,/+" @*-)0,% .,I/'$52% 7+()5,#% "/-,#% 0* 1'6*-,%9*.*+'*-L%<"-?)*%#)#%.*c."#%I* -*F)*-0,5% <,-.*% 0*% I'% '5Y,5F',2

<"9";5+1=$* &*.*-I*%,%H5.*-5*.%,%/)#F,-%I,.*-',+L ,-.GF)+"#L%.*c."#i%C%+**-%I)F=,#%5".'F',#L 0*%<,G#*#%+,.'5",I*-'F,5"#%C%,+()5"# *)-"<*"#2

<)";$&:"2$%5;$* 9"#%0)+F*#L%F+,-"%?)*%)5%,#,0"%#'*I<-* *#%/'*56*5'0"L%<*-"%0*#<)$#%)5%-'F" <"#.-*L%)5%=*+,0"L%"%+"%?)*%#*,%0)+F*2

>?(5=$&:"2$%5;$* J+%(+"-'"#"%J6*-."5%0*%K'E,%0*+%&,-L 0*+%F),+%#"C%='5F=,%*.*-5"2


!!"#$%&#'()#)"!!

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

!

!"#$"%&'"())*"$%"+#,-.! /#" 0%" 12%34%!5%" 63# /#4$%2%/%"7'!%"8%932%/% /#:-/'" %" 83" %$9% 4'!9%;-!%4-.!" %;< :-#!9%$" ='2" >?@)" A@) ;-42.;#92'8" ='2" ;#92'" 4B:-4'" /# ;%9#2-%$" =%29-43$%/'CD" E-!4'" %&'8 /#8=3F8G"#$",':-#2!'"-;=$#;#!9."#$"?$%! /#" H#84'!9%;-!%4-.!" 19;'86F2-4% A?H1C"=%2%"$%8"4';3!%8"/#"I#;34'"J

?%/2#" 0%8" E%8%8G" #!" 3!%" -!-4-%9-K% -!F/-9%"#!"2#,-'!#8"J"L3#"=2#9#!/5%"8#2 $%";M8"-;='29%!9#"N#22%;-#!9%"=%2% 4';:%9-2"#89'8"%$9'8"5!/-4#8G"=2'K'4%/'8 #!";%J'2"=%29#"='2"#$";%$"38'"/#"$%"$#&% #!"$%8"#8936%8D 1493%$;#!9#G" J" %" /'8" %&'8" /#" $% -;=$#;#!9%4-.!" /#" #89#" =$%!G" $% 8-93%4-.!"='4'"'"!%/%"N%";#O'2%/'D"0'8 #=-8'/-'8"4259-4'8"8#"N%!";%!9#!-/'"J /#8/#"#89#"%&'G"%/#;M8G"8#"83;."3!%

;#/-4-.!";M8"6-!%"AK#2"2#43%/2'C"92%8 %=2':%28#"$%"!'2;%"=2-;%2-%"/#"4%$-/%/ /#$" %-2#" /#" ;%9#2-%$" =%29-43$%/'" (G* A>?(G*CG" L3#" /#8/#" 83" =3#89%" #! ;%24N%" #!" #!#2'" /#" ()@(" %22'O." P) #=-8'/-'8"4259-4'8"/#"4'!9%;-!%4-.!"AQ) %$#29%8G" (R" =2##;#2,#!4-%8" J" (@ #;#2,#!4-%8CD S$"%-2#"8-,3#"-22#8=-2%:$#"/32%!9#"$'8 ;#8#8" 4259-4'8" /#" -!K-#2!'G" $%8 #!6#2;#/%/#8"2#8=-2%9'2-%8"#;=#'2%!

*+


!!"#$%&#'()#)"!!

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

*,

1TH+S1"X0f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`':-#2!'" +#,-'!%$ %=2':." 3!" =2'J#49'" /#" /'8" %&'8" /#

+gT\"?1TIgh1

!C0**+$,%-.*%&1%&*31%*, )*;(#(/('1+*#/*%.#%4$+9.,/(9&* &(+<($6%-.*%,*%<.*)*%(#,*0/10 *#%4$#,.+$,%+$)*0#$,%-.*%#$ 1;*4/*#%1&%+*)($%1+9(*#/*%#(%1& )*/*0($0$%)*%&$,%9$,-.*,6%7%-.* *#0(-.*D41%1%&1%0*2(5#=6%E$#7 F1#/$:16%@*40*/10($%C$4*&B /32%4-.!G" ='2" 3!" ;'!9'" /#" a@D)*) ;-$$'!#8" /#" =#8'8G" =%2%" 2#%$-7%2" 3! 2#4%;:-'"/#"#8936%8"92%/-4-'!%$#8"%"=#$$#9 #!"/-K#28%8"-!89-934-'!#8"#/34%4-'!%$#8G '2,%!-7%4-'!#8"J"4'2='2%4-'!#8"8-!"6-!#8 /#"$342'"/#"I#;34'"J"?%/2#"0%8"E%8%8G #!"3!"=2'J#49'"=-$'9'"L3#"=2#9#!/#"/%2 $34#8" 8':2#" #89#" 9-='" /#" 9#4!'$',5%D S8"L3#"#$"=#$$#9"8#25%G"=%2%";34N'8G $%";#O'2":-';%8%"/#"4';:389-.!G"=#2' $%"=2#,3!9%"#8U"b#V-89#"836-4-#!9#"89'4c #!"#$";#24%/'d"?%2%"?%!9'O%G"$%"'6#29% 2#8='!/#"%"$%"/#;%!/%G"J"$%"9%2#%G"/-4# F$G"#8"=2'6#8-'!%$-7%2"#$"23:2'D"]e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


!!"#$%&#'()#)"!! 8#"83;%"$%"#/34%4-.!"/#"$%8"=#28'!%8G L3#"2#L3-#2#!"/#"4%=%4-9%4-.!"=%2%"38%2 $'8"4%$#6%49'2#8"/#";%!#2%"#6-4-#!9#"/# %43#2/'" %" $%" :-';%8%" L3#" 39-$-7%D

?1m"[S++1

hg[n">f`ZS0">1+I1ofH

1N'2%G" #!" #$" 9#;%" /#" #6-4-#!4-% #!#2,F9-4%G"0%"12%34%!5%"='4'"%"='4' N%"-/'"%K%!7%!/'D"S$">-!K3"N%"#89%/' #O#439%!/'" #$" [3:8-/-'" /# 14'!/-4-'!%;-#!9'" IF2;-4'" /#" $% Y-K-#!/%G" L3#" =#2;-9#" #!92#,%2 8'$34-'!#8"/#"%-8$%4-.!"9F2;-4%"%$"=%2L3# /#"K-K-#!/%8"#V-89#!9#8"L3#"!'"43;=$%! 4'!"$%8"#V-,#!4-%8"/#"$%"2#,$%;#!9%4-.! 9F2;-4%"/#"$%"g2/#!%!7%"`#!#2%$"/# Z2:%!-8;'"J"E'!892344-.!G";#O'2%!/' 8389%!4-%$;#!9#" $%8" 4'!/-4-'!#8" /# N%:-9%:-$-/%/"-!9#2-'2"/#"$%"K-K-#!/%"J /-8;-!3-2"$%"/#;%!/%"#!#2,F9-4%"/#"$%8 ;-8;%8D ]S89#"83:8-/-'"8#"#!43#!92%"/#!92' /#" $'8" $-!#%;-#!9'8" #892%9F,-4'8" /#$ ?H1G" J" 4';'" >-!K3" #89%;'8" ;3J 4';=2';#9-/'8"#!"#89%"9%2#%G"4'!"#$ ':O#9-K'"/#"%$4%!7%2"$%"!'2;%"9F2;-4% 4'!"9'/%8"838"-;=$-4%!4-%8"/#";#O'2% #!"4%$-/%/"/#"K-/%"J"='8-:$#"/-8;-!34-.! /#"$%"/#;%!/%"#!"4%$#6%44-.!_G"8'89-#!# $%"[#2#;-"/#"Y-K-#!/%"J"Z2:%!-8;'G"?%7 [#22%D H#"#89#";'/'G"#!92#"#$"())P"J"()@@ 8#" N%!" %8-,!%/'" 3!" 9'9%$" /#" kD)Ri 83:8-/-'8"9F2;-4'8"4'!"3!%"-!K#28-.! 9'9%$"/#"klQDQQ*"ZXG"J"/32%!9#"#$"()@( 8#" #!92#,%2'!" QDQl)" 83:8-/-'8 #L3-K%$#!9#8" %" Qi)DPQ@" ZXD" E-62%8 ='8-9-K%8G"=#2'"#$"$$%;%/'"9%;:-F!"#8"% $%8"#;=2#8%8"4'!892349'2%8G"=%2%"L3# #!92#,3#!"3!"8#2K-4-'"/#"4%$-/%/"%"$%8 K-K-#!/%8"L3#"!'"8'!"8'4-%$#8"J"9-#!#! 3!"K%$'2";M8"%$9'D

-.'/!%"&'(!+!.%!'0!(12+/2

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iQ)"#;=2#8%8"=2'K##/'2%8 /#"$#&%"4%9%892%/%8"#!"$%8"4';3!%8"/# I#;34'"J"?%/2#"0%8"E%8%8G"8#,B!"#$

!"#$!%"&'()*+,"%!

j3#/%"4$%2'"L3#"$%"4'!9%;-!%4-.! %;:-#!9%$" /#:#" 8#2" %:'2/%/%" /#8/# /-89-!9'8" M!,3$'8D" [#" 92%9%" /#" 3! =2':$#;%"4'!";B$9-=$#8"6%49'2#8"J"4%38%8 L3#" $%" 8'4-#/%/" /#:#" %:'2/%2" #! 4'!O3!9'D" S8" ='2" #8'" L3#" #!" ()@( E'2=%2%34%!5%"8#!9."$%8":%8#8"=%2%"$% 42#%4-.!" /#" 3!%" 63!/%4-.!" $$%;%/% 12%34%!5%"Y#2/#G"L3#"=2#9#!/#"%29-43$%2 %" $'8" 8#49'2#8" =B:$-4'G" =2-K%/'" J %4%/F;-4'G"=%2%"#$%:'2%2"3!%"#892%9#,-% /#"%:'2/%O#"8-89F;-4'"#"-!9#,2%/'"/#"$% 9#;M9-4%" ;#/-'%;:-#!9%$" 2#,-'!%$D

S$" 4%8'" /#" S32'=%" #8" 3!" 4$%2' #O#;=$'"/#"3!"%-2#"='4'"4'!9%;-!%/'D [-":-#!"$'8"=%58#8"#32'=#'8"38%!"$#&% =%2%"4%$#6%44-'!%28#G"83"#V=#2-#!4-% -!/-4%"L3#"8-"#V-89#"3!":3#!"8-89#;%"/# 4%$#6%44-.!"J"3!":3#!"%-8$%;-#!9'"#! $%"4%8%G"!'"#V-89#"4'!9%;-!%4-.!D"1"#8'

]E'2=%2%34%!5%"N%"#89%/'"=2';'< K-#!/'"$%"%29-43$%4-.!"/#"%49'2#8"/#"$% 2#,-.!"J"#$"=%58G"=%2%"%K%!7%2"#!"9#;%8 4$%K#8"='2";#/-'"/#"/-89-!9%8"-!-4-%9-K%8G %" =%29-2" /#" $%8" 43%$#8" 8#" 4'!89%9." $% !#4#8-/%/" /#" 6'2O%2" -!89%!4-%8" L3# =3#/%!"%493%2"#!"#$"$%2,'"=$%7'G"J"/#"$%

E'4#$G"8.$'"N%J"@*"#;=2#8%8"4#29-6-4%/%8G L3#"K#!/#!"3!'8"*)";-$";#92'8"4B:-4'8 %$"%&'D"bj3F"=%8%"4'!"$%8"/#;M8d"E';' $%"4#29-6-4%4-.!"#8"K'$3!9%2-%G"!'"9'/%8 9-#!#!"$%"':$-,%4-.!"/#"N%4#2$'G"J"='2 '92'"$%/'G"!'"9'/%8"$%8"#;=2#8%8"L3# K#!/#!"$#&%"43;=$#!"4'!"$%"6'2;%$-/%/ $#,%$"A-!-4-%4-.!"/#"%49-K-/%/#8CDDDDDDDDDD

*-


!!"#$%&#'()#)"!!

!G1%?.#)14(5#%>01.41#H1%I*0)* <101%#$,$/0$,%*,%.#%)*,1;H$%4$# *&%-.*%*,<*01+$,%4$#/0(9.(0%1 +*:$010%&1%41&()1)%)*%'()1%*#%&1 0*2(5#=6%J$,8%A(2.*&%A10/19()6 F0*,()*#/*%)*%C$0<101.41#H1B ;%!#2%" ;M8" -!/#=#!/-#!9#" ='8-:$#D Z!%"/#"#$$%8"#8"$%"X3!/%4-.!"12%34%!5% Y#2/#G"L3#"=%2%"!'8'92'8"#8"3!"/#8%65' 4'!" #$" L3#" #8=#2%;'8" 4'!92-:3-2" % ;#O'2%2"$%"4%$-/%/"/#"K-/%"#!"$%"2#,-.!_G 8#&%$%"h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o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h3%! ?%:$'" EM2/#!%8G" %4%/F;-4'" /#$ H#=%29%;#!9'"/#"g:2%8"E-K-$#8"/#"$% Z!-K#28-/%/"/#"0%"X2'!9#2%D 1" =2-'2-G" #$" #893/-'" p#!" #$" L3# 4'$%:'2%2'!"-!K#89-,%/'2#8"/#"$%"S843#$% /#" 12L3-9#4932%" /#" $%" Z!-K#28-/%/

**

hZ1T"?1o0g"Eq+HST1[

If>g">q+jZSm

>%J'2G"/#$"H#=%29%;#!9'"/#"f!,#!-#25% #!"g:2%8"E-K-$#8"/#"0%"Z!-K#28-/%/"/# 0%"X2'!9#2%"J"/#"$%"Z!-/%/"/#"E%$-/%/ /#$"1-2#"/#"$%"Z!-K#28-/%/"E%9.$-4%"/# I#;34'G" %/#;M8" /#" $%8" #;=2#8%8 1$4M7%2G"S4'#6G"S4'6-$92'G"?%$%77#99-"J E%8%,2%!/#<"%22'O."L3#"$'8"4%$#6%49'2#8 39-$-7%/'8"8#"#!43#!92%!"/#!92'"/#"$% !'2;%"/#"#;-8-'!#8"=%2%">?(G*"J"L3# #$"6-$92'"39-$-7%/'"#!"3!%"/#"$%8"#8936%8 92%/-4-'!%$#8" $',2." /-8;-!3-2" $%8 #;-8-'!#8"#!";M8"/#"3!"k)^DDDDDDDDDDDD

-!89-934-'!#8"-!K'$342%/%8"J"%/N#2#!9#8 %"$%"4%38%"/#$";#/-'"%;:-#!9#D"0%"-/#% #8" L3#" %/#;M8" /#" $'8" #863#27'8" /#$ S89%/'G"12%34%!5%"Y#2/#"=3#/%"%='29%2 %" L3#" !3#892%" 2#,-.!" 8#%" ;'/#$'" #! 43%!9'"%"/#84'!9%;-!%4-.!"J"2#4-4$%O#G 9#!-#!/'" 3!" %-2#" J" 3!" 83#$'" $-;=-'D

g92%" /#" $%8" 4'!4$38-'!#8" ;M8 -;='29%!9#8"63#"L3#"#$"4'!6'29"9F2;-4' /#"$%"K-K-#!/%"!'"/#=#!/#"8.$'"/#"83 !-K#$"/#"%-8$%;-#!9'"J"$%"='9#!4-%"/#$ 4%$#6%49'2"-!89%$%/'"#!"#$$%G"8-!'"9%;:-F! /#$" 4';='29%;-#!9'" /#$" 383%2-'" #! 2#$%4-.!"%$"38'"/#$"4%$#6%49'2G"#!"9'2!' %$" ;'/'" /#" '=#2%2" #$" %29#6%49'" J" $%8 4%2,%8"/#"4';:389-:$#D ?'2" #$" ;';#!9'G" F89%8" J" '92%8 4'!4$38-'!#8" 8#2K-2M!" /#" :%8#" =%2% 92%:%O'8"63932'8"/#"$%"63!/%4-.!G"L3# J%"43#!9%"4'!"#$"%='J'"/#"=%29#"/#"$%8

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gCG"#$"/-.V-/'"/#"%7362#"A[g(C"J".V-/'8"/#"!-92.,#!'"ATgVCG


!!"(.($(#%(/#0"!!

!("-.&)/0*.,+"1(%)2)3&40#%5614#

/0&%*"(1"*#0,2%/*,&34,/%/

,-./012%)$#)*%3453%607-81.6/8%82%5/0%8-9/73%/:%"/.;-2*%72%:/8%4-/:28%4-/1.3%</ 82%204-201./0%20%=.34283%72%6081/:/46>0?%"/./:2:/92012*%82%5/0%:3@./73%76A2.838 430A20638% <% @28163028% ;-2% 2A672046/0% 2:% B-20% 9392013% ;-2% A6A2% 2:% 204:/A2* 430A6.16C073:3%20%2:%=.6046=/:%=3:3%281./1C@643%72%728/..3::3%.2@630/:??????????????????

"

%89%" #$" ()@@G" #$ ?%2L3#" f!/3892-%$" J I#4!'$.,-4'"3:-4%/'"#! $%"4';3!%"/#"0%39%2'G 4'!9%:%"4'!"@@"#;=2#8%8 -!89%$%/%8D" [.$'" #89# ()@(G"l"!3#K%8"-!/3892-%8"-!-4-%2'!"83 =2'4#8'" /#" -!89%$%4-.!" J" '92%8" l" 8# %=2'!9%!"%"#$$'D"n89#"#8"3!"N#4N'"L3#G %"O3-4-'"/#"83"H-2#49'2-'"J"`#2#!4-%G 4';=23#:%"L3#"='8##"9'/'"$'"!#4#8%2-' =%2%" L3#" -!/3892-%8" /#" /-K#28'" 9-=' =3#/%!" /#8%22'$$%28#" %" :3#!" !-K#$D ]S$"?%2L3#"#89M"%$4%!7%!/'"4-#29% ;%/32#7"#!"#$"8#49'2"=2'/349-K'"L3#"N% N#4N'"L3#"8#%"=#24-:-/'"4';'"3!"$3,%2 ='8-9-K'"J"6%K'2%:$#"=%2%"#$"/#8%22'$$' /#" $%" 2#,-.!G" L3#" 43#!9%" 4'!" :3#!% -!62%#89234932%"=%2%"$%"-!89%$%4-.!"/# #;=2#8%8_G"%!%$-7%">%2-8#$"+'/25,3#7G `#2#!9#" /#$" ?%2L3#" f!/3892-%$" J I#4!'$.,-4'" /#" 0%" 12%34%!5%DDDDDDDDD

?%2%"+%;.!"T%K%22#9#G"?2#8-/#!9# /#$" ?%2L3#G" #89#" :3#!" ;'K-;-#!9' 4'-!4-/-25%G"%/#;M8G"4'!"#$"42#4-;-#!9' L3#"#89M"9#!-#!/'"$%"2#,-.!D"]E2#'"L3# $'8"%K%!4#8"/#"#89#"()@("#89M!"%8'4-%/'8

#!"=%29#"%$";#O'2%;-#!9'"#4'!.;-4' L3#"N%"N%:-/'"#!"$'8"B$9-;'8"/'8"%&'8G J"$%"4%!9-/%/"/#"#;=2#8%8"L3#"8#"N%! 42#%/'"$'8"B$9-;'8"@(";#8#8G"$'"L3#"N% 6%4-$-9%/'"$%":B8L3#/%"/#"4$-#!9#8"=%2% #$"?%2L3#_G"8#&%$%D

3$!')!#(/2(3!%4"'5 H32%!9#"#$";#8"/#"O3!-'"4';#!7. 83" -!89%$%4-.!" #$" ?%4c-!," /#" $%K%/'G 4%$-:2%4-.!" J" #!K%8%/'" /#" =%=%8G" /# 1,254'$%" J" X'2#89%$" T-$=#G" #;=2#8% 4 ' ; # 24 - % $ - 7 % / ' 2 % " / # " 4 # 2# % $ # 8 G $#,3;-!'8%8"J"=%=%8G"=#29#!#4-#!9#"%$ 4'!8'24-'" fj[1G" 4'!" 3!%" -!K#28-.! 4#24%!%"%"$'8"@Q)";-$$'!#8"/#"=#8'8G"#! -!62%#89234932%" J" ;%L3-!%2-%DDDDDDDDDD ]S89#"?%2L3#"#8"$%"7'!%";M8"8#2-%G 8#,32%"J"$',589-4%;#!9#":-#!"3:-4%/% =%2%";'!9%2"3!%"#;=2#8%"/#"8#2K-4-'8 %,254'$%8" #!" $%" 2#,-.!G" J%" L3#" 83 3:-4%4-.!" #8" 3!" =%8'" ':$-,%/'" =%2% 92%!8='29#8"'"#!K5'8"/#"=%=%8"L3#"8# /-2-,#!"N%4-%"[%!9-%,'"J"=#2;-9#"#89%2 4#24%" /#" $'8" =2-!4-=%$#8" =3!9'8" /# =2'/344-.!"/#"4#2#%$#8_G"8'89-#!#"+%B$ j3-!9%8G"/3#&'"/#$"4'!8'24-'DDDDDDDDDDDDDD

!K,/*%F10-.*%*,%&1%D$#1%+L, ,*0(16%,*2.01%7%&$2H,/(41+*#/* 9(*#%.9(41)1%<101%+$#/10%.#1 *+<0*,1%)*%,*0'(4($,%120H4$&1, *#%&1%0*2(5#=6%E1M&%N.(#/1,6 ).*3$%C$#,$04($%ON@>B j3-!9%8"%,2#,%"L3#"=%2%"()@Q"8# #8=#2%"4'!42#9%2"3!%"8#,3!/%"#9%=%"/#$ =2'J#49'G"L3#"#8"$%"-!89%$%4-.!"/#"3!% -!62%#89234932%"/#",3%2/%G"=%2%"=2#89%2 %$;%4#!%O#" %" $%" ,2%!" 4%!9-/%/" /# #;=2#8%8"=2'/349'2%8"/#"%$-;#!9'8"=%2% ,%!%/'" K%43!'G" ='24-!'" J" 8%$;.!D 1"#89#"?%4c-!,"9%;:-F!"8#"83;%"$% -!89%$%4-.!" /#" 3!'" /#" :#22-#8G" /#" $% 18'4-%4-.!"f!/5,#!%"1;3$#J"/#"0%39%2'G L3#"#!"3!"9#22#!'"4#/-/'"#!"4';'/%9' ='2"$%">3!-4-=%$-/%/"/#"0%39%2'G"J"4'! 2#4328'8" /#" $%" 1,#!4-%" +#,-'!%$" /# H#8%22'$$'G"=2#9#!/#",#!#2%2";%J'2#8 J";#O'2#8"K'$B;#!#8"/#"$%"=2'/344-.! /#"6239%"L3#"#89%"%8'4-%4-.!"9-#!#"#!

*1


!!"(.($(#%(/#0"!!

4#24%"/#"()"N#49M2#%8G"2#=%29-/%8"#!92# 838"8'4-'8D 0%"-!89%$%4-.!"/#"#89%"=$%!9%";%24% 3!"N-9'"#!"#$"?%2L3#"%$"8#2"$%"=2-;#2% =#29#!#4-#!9#" %" 3!%" %8'4-%4-.! -!/5,#!%G"L3#"-!4$38'"#89M"4'!8923J#!/' #$"?%4c-!,"4'!"838"=2'=-%8";%!'8D"S8 ='2"#8'"L3#"=%2%"X2%!4-84'"EN#3L3#G ?2#8-/#!9#" /#" $%" 18'4-%4-.!G" #89% -!K#28-.!"<4#24%!%"%"$'8"@))";-$$'!#8 /#"=#8'8<"#8"3!",2%!"=%8'"#!"83"N-89'2-%D ]j3#" 3!" ,23='" /#" =#28'!%8G 4%;=#8-!'8G"=3#/%"$$#,%2"%"3!"$3,%2 4';'"F89#G"#8"3!"'2,3$$'"J"#2%"3!"83#&' L3#" N'J" #!" /5%" 8#" #89M" 4'!42#9%!/'G ='2L3#" =2#9#!/#;'8" N%4#2" 3! =2'4#8%;-#!9'" :M8-4'" /#" $%" 6239%" J #!92#,%2$%"%"$%"%,2'-!/3892-%_G"/-4#DDDDDDDDD

3.')6(2#)+!)*5"%6 +%;.!"T%K%22#9#"K%$'2%"$%"#$#44-.! /#" #89%8" #;=2#8%8" J" 4'!65%" #!" $%8 4'!/-4-'!#8"/#$"$3,%2G"B!-4'"4'!"#89%8 4%2%49#2589-4%8"#!"$%"2#,-.!D"]T'"#V-89# 3!%"-!62%#89234932%"=%2#4-/%"#!"$%"7'!%G ='2"$'"L3#"42##;'8"L3#"8#,3-2M"8-#!/' $%"=2-;#2%";-2%/%"J"$%"=2#6#2#!4-%"/# !3#K'8"#;=2#!/-;-#!9'8"L3#"L3-#2%! -!89%$%28#"#!"$%"7'!%_G"%8#,32%DDDDDDDDDDDDDDD

?'2"83"=%29#"+#!%9'"e%32-G"1$4%$/# /#" 0%39%2'G" %=2#4-%" L3#" F89#" ,#!#2# #;=$#'"%"4#24%"/#";-$"=#28'!%8"/#"$% 4-3/%/G"J"L3#"$#"/F"K%$'2"%,2#,%/'"%"$%8 ;%9#2-%8"=2-;%8"/#"$%"2#,-.!D"]S$"?%2L3# f!/3892-%$"#8"3!"$3,%2"#8=#4-%$"/'!/# 8#"4'!#49%!"#;=2#8%2-'8G"8#"92%!86'2;%! ;%9#2-%8"=2-;%8"#!"3!"=2'/349'"/#9#2< ;-!%/'G" 8#" #V='29%!" ;%9#2-%$#8" J" 8# 8%4%" ;%J'2" K%$'2" %" $%8" 4'8%8" L3#" 8# =2'/34#!G"J"#89'"8-,!-6-4%";%&%!%";#O'2 4%$-/%/" /#" K-/%" =%2%" 9'/'8" $'8" L3# K-K-;'8" %4MG" ='2L3#" !'" 9'/%8" $%8 4';3!%8" 9-#!#!" $'" L3#" 9#!#;'8" #! 0%39%2']G"/-4#D

3+672%)6#(-.).+6# S89#" ()@(" 9%;:-F!" 4';#!7." #$ ;'K-;-#!9'"/#"9-#22%"/#"3!%"=$%!9%"/# %4#-9#"/#"2%=8"/#$"#;=2#8%2-'"+-4%2/' `%2:#8-G" L3#" #89M" %" =3!9'" /#" 8#2 -!%3,32%/%D"?'2"'92'"$%/'G"$%"#;=2#8% `#28%G"`#89-.!"S4'$.,-4%"/#"+#8-/3'8 [D1G"=2#9#!/#"/#8%22'$$%2"#$"()@Q"83 =2'J#49'"#!"#$"9#22#!'"L3#"J%"%/L3-2-. #!"#$"?%2L3#D 1/#;M8G" $'8" #;=2#8%2-'8" E%2$'8 [N3$7#G"='2"3!"$%/'G"J"+':#29'">'2#!'G ='2"'92'G"=2#9#!/#!"-;=$#;#!9%2"3!% ?$%!9%"/#"e'2;-,.!"Ae'2;-4%$"09/%DC

DEF&G(%HIFG( 1/#;M8"/#"$%8",#89-'!#8"/#"4';=2%"J"K#!9%"/#"9#22#!'8G"#89#"%&'"9%;:-F!"8# 6-2;."3!"%43#2/'"4'!"E'!%6G"#!"#$";%24'"/#"83"?2',2%;%"/#"12:'2-7%4-.!G"4'! #$"':O#9-K'"/#"6'2#89%2"#$"?%2L3#"4'!"#8=#4-#8"!%9-K%8D"H32%!9#"#$"()@("8#"=$%!9%2'! 4#24%"/#";-$"M2:'$#8"J"8#"#8=#2%"L3#"#$"()@Q"J"()@l"8#"4'!9-!B#"4'!"#$"4'!K#!-'D ?'2"'92'"$%/'G"8#"#89M"=$%!-6-4%!/'"$%"32:%!-7%4-.!"/#"3!%"!3#K%"#9%=%"/#$"?%2L3#G /#:-/'"%"$%"%$9%"/#;%!/%"/#"9#22#!'"='2"=%29#"/#$"8#49'2"=2'/349-K'G"L3#"=2#9#!/# -!42#;#!9%2"()"N#49M2#%8"/#"9#22#!'"32:%!-7%/'G"$'"L3#"=#2;-9-2M"N%:-$-9%2"#!92# @("J"@l"!3#K'8"$'9#8D

*2

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f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


!!"3(4#)#0"!!

J/%G416A67/7%F9=.207273./ J$,8%G.(,%I*&1,4$ R(0*4/$0%E*2($#1& C$0;$ E'!8-/#2%!/'"L3#"#89#"%&'"()@( K-K-;'8"#$"]1&'"/#$"S;=2#!/-;-#!9'_G 42#'"!#4#8%2-'"4';=%29-2"4'!"389#/#8 %$,3!'8" =#!8%;-#!9'8" J" 2#83$9%/'8 4'!42#9'8"/#"$%"%49-K-/%/"#;=2#!/#/'2% #!"!3#892'"=%58"J"2#,-.!D"[-!"/3/%G"8N%:$%;'8"/#"#;=2#!/-;-#!9'G"N%:$%;'8 /#" $%8" ;-42'G" =#L3#&%8" J" ;#/-%!%8 #;=2#8%8" A>-=J;#8CG" L3#" #!" 0% 12%34%!5%"4'!89-93J#!"#$"RRGk^"/#"$%8 #;=2#8%8"#89%:$#4-/%8G"%='29%!/'"#! 9'2!'"%$"k*^"/#$"#;=$#'G"J"42#4-#!/' 3!"(l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f!!'K%4-.!_G"4'!"%49-K-/%/#8G"=2',2%;%8 J"=2#83=3#89'8"%/-4-'!%$#8D [-"L3#2#;'8"/%2"#$"8%$9'"%$"/#8%22'$$' #!" #89%" /F4%/%G" 4';'" =%58" /#:#;'8 2#4'!'4#2"$%"$%:'2"/#"$'8"#;=2#!/#/'2#8 J"$%8"#;=2#8%8G"6';#!9%2"$'8"#!9'2!'8 /#" #;=2#!/-;-#!9'" %" 9'/'" !-K#$" J 6'29%$#4#2"$%"-!!'K%4-.!D

*5


!!"(.($(#%(/#0"!!

K/=61L0%"/81202M

3"(*14150)1+(%1(0( ,#*5%*64%0(%#7% G"'*#,/*H#"50+#"3%2+#+*#3%"3"8"#,*#&("#'0-0(/"#40'0#'0(0'/,"6#4*%0#,*+,*#*-#IJJK#+*#>"#/,0 3%"(+<0%1"(,0#*(#&(#,*+3/(0#"<"1",0#40%#+&#8&*("#."+3%0(01)"6#+&#4"3%/10(/0#"%A&/3*'3;(/'0 7#+&#'&-3&%"#/3"-/"("#"#<-0%#,*#4/*-?#F0(#"-%*,*,0%#,*#L#1/-#>"8/3"(3*+#>07#'&*(3"#'0(#3%*+#%*+3"&%"(3*+ ,*#4%/1*%#(/E*-6#&(#>03*-#80&3/A&*#7#&(#'/(*#A&*#,"3"#,*#MNMJ6#",*12+#,*#&(#'%*'/*(3*#/(3*%=+#,*+*'30%#4B8-/'0#7#4%/E",0#40%#"407"%#+&#,*+"%%0--0#3&%)+3/'0?

*6


!!"(.($(#%(/#0"!!

#

3#!9%"$%"N-89'2-%"L3#"#! @R)l" 3!" ,23='" /# -9%$-%!'8G"=2'K#!-#!9#8"/# $%" 7'!%" /#" S;-$-% +';%,!%G"$$#,%:%"N%89% 0%" 12%34%!5%" =%2% /#/-4%28#" %" $%" %,2-43$932%" J" %$" 23:2' 6'2#89%$D"E-#!"%&'8";M8"9%2/#G"E%=-9M! ?%89#!#"<4';'"8#"!';:2."%"$%"$'4%$-/%/ #!"/'!/#"8#"N%:5%!"-!89%$%/'<G"4#$#:2%25% #89%"$$#,%/%"#!"3!"N-9'"L3#"8-!"/3/% ;%24%" 3!" %!9#8" J" 3!" /#8=3F8" #!" 83 /#8%22'$$'"932589-4'D [#"92%9%"/#"$%"][%,2%"f9%$-%!%_G"6-#89% L3#" /#8/#" %L3#$" ())l" 4'!K-29-." % E%=-9M!"?%89#!#"#!"3!%"4';3!-/%/"4'! 2%54#8"K-K%8G"4%2%49#2-7%/%"='2"83"$#,%/' -9%$-%!'"-!4'!63!/-:$#G"J"83";#74$%"4'! $%"43$932%"4N-$#!%"J";%=34N#G"K-8-:$# !'"8.$'"#!"83"2-L3#7%"%2L3-9#49.!-4%G 8-!'" 9%;:-F!" #!" $%" ,%892'!';5%" L3# ='4'" %" ='4'" 8#" N%" 4'!K#29-/'" #!" 3! -;=#2/-:$#"/#"$'8"932-89%8"L3#"$$#,%! N%89%"$%"2#,-.!D

,.$)"%.$).+!$"/!/(7(3!)+",6'"6 Z:-4%/%"%"@Q)"c-$.;#92'8"%$"!'2'#89# /#"I#;34'G"J"=#29#!#4-#!9#"%"$%"4';3!% /#" 03;%4'G" $%" $'4%$-/%/" /#" E%=-9M!

17

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`-38#==#" Y#2/-G" H%!9#G" #!92#" '92'8<G =#2'"9%;:-F!"#!"83"%2L3-9#4932%G"4'! $%"-,$#8-%"/#"[%!"X#$-=#"/#"T#2-"'"4%8'!%8 %!9-,3%8"4';'"$%"#V"4%8'!%"+'8%9-G"L3# N%4#" ='4'" 9-#;='" 8#" 4'!K-29-." #!" #$ ]?-#92%"[%!9%_G"3!"N'9#$":'39-L3#"/# =2-;#2" !-K#$" L3#" 43#!9%" 4'!" /-#7 N%:-9%4-'!#8G":%2"J"=-84-!%D I%;:-F!"9-#!#"3!'"/#"$'8"4-!#8";M8 %!9-,3'8"/#"EN-$#U"S$"E-!#;%"?%89#!#G '"#V"I#%92'"+#VG"4'!8923-/'"#!"@R@)G ;%!/%/'"%"N%4#2"='2"$%"6%;-$-%"+'8%9-G

L3#"92%8"K%2-%8"/F4%/%8"#!"/#838'"=3/' 2#89%32%28#"/#"$%";%!'"/#"+#!F"Y-%!-G L3#"N#2#/."#$"-!;3#:$#"/#"83"=%/2#G L3-#!"$'"N%:5%"4';=2%/'"%"$'8"+'8%9#!"$%"/F4%/%"/#"$'8"l)D ]S$"9#%92'"#893K'"=%2%/'"='2"Q*"%&'8 J"4'!"#$"%='J'"/#"[#24'9#4"#;=#7%;'8 %"2#=%2%2"9'/'"$'"L3#"#8"$%"#89234932%G $%8":%8#8"J"9'/'G"='2L3#"#89%:%"9'9%$< ;#!9#"/#8923-/'"J"L3#/."#V%49%;#!9# 4';'"#2%"#!"@R@)G"!'"8#";'/-6-4."!%/%D \" 8#" $$%;%" E-!#;%" ?%89#!#" ='2" $% =#$543$%"E-!#;%"?%2%/-8'G"='2L3#"#8% #2%";-"4%8%G"J'"42#45"%N5"J"63-"4';'"#$ rI'9's"/#"$%"=#$543$%G"#!9'!4#8"9#!5%"9'/' #$" 4'2%7.!" J" #$" #!938-%8;'" ='2 2#89%32%2$'D"\"42#'"L3#"=%2%"?%89#!#"N% 8-/'" -;='29%!9#G" ='2L3#" 8#" 83;%" %$ %92%49-K'"/#"$'8"2#89%32%!9#8G"%85"L3# -!K-9'"%"$%",#!9#"L3#"=%8#"%$"=3#:$'"J K%J%" %$" 4-!#;%_G" 8#&%$%" +#!F" Y-%!-D e'J"#$"4-!#"9-#!#"63!4-'!#8"9'/'8 $'8"/5%8"8M:%/'"J"/';-!,'G"/#"@*"%"() N'2%8G" /'!/#" #VN-:#" 3!" /'43;#!9%$ 8':2#"$%"$$#,%/%"/#"$'8"=2-;#2'8"4'$'!'8 J"$'8"-!-4-'8"/#"E%=-9M!"?%89#!#DDDDDDDD


!!"(.($(#%(/#0"!!

?+f>g"Eg+IS[f

5!#)+6'6,0!(7(-"2#)!# 1"#89#"=%92-;'!-'"8#"83;%"$%"2-4% ,%892'!';5%"/#$"$3,%2G"L3#"43#!9%"4'! 3!%"6%;%"4%/%"K#7";M8"42#4-#!9#"%"!-K#$ !%4-'!%$G"J"L3#"8#,B!"?2-;'"E'29#8-G /3#&'" /#" $%" I2%99'2-%" H'!" ?2-;'G 4';#!7."4%8-"='2"4%83%$-/%/"43%!/' #!"#$"%&'"())l"$%"4';3!-/%/"/#4-/-. 4#$#:2%2"$'8"@))"%&'8"/#8/#"$%"$$#,%/% /#" $'8" ]!'!'8_" A%:3#$'8C" '" =2-;#2'8 4'$'!'8D ]S89'" 63#" 3!" 92#;#!/'" ,'$=#" /# 83#29#G"!'"63#"3!%"4'8%"=$%!-6-4%/%"!='2";5G"L3#"63-"#$"=2-;#2'"#!"#89'G"!='2"!%/-#";M8D"\'"%22#,$F"3!%":'/#,% /#";-"!'!'G"L3#"#2%"3!%"4%K%G"='2L3# F$"9#!5%"3!%"K-&%G"J"$%"%:25"=%2%"3!% '4%8-.!" #!" =%29-43$%2G" =%2%" L3# 63!4-'!%2%"='2"3!%"8#;%!%G"=#!8%!/' #!" $%" ,#!9#" L3#" -:%" %" K#!-2" %" $% 4#$#:2%4-.!"/#"$%"$$#,%/%"/#"$'8"!'!'8 /#"f9%$-%G"='2L3#"!'"N%:5%"$3,%2"/'!/# 4 ' ; # 2G " = # 2' " 9 # 2 ; - ! % 2' ! " # 8 9 % 8 %49-K-/%/#8" J" 4'!" #$" 9-#;='" $%" ,#!9# 8-,3-."K-!-#!/'G"='2L3#"8#"92%!86'2;. #!"%$,'";3J":3#!'_G"2#$%9%D ]T3#892%"6-#89%"#8";3J"!'K#/'8%D I3K-;'8";34N%8"K-8-9%8G"#!4%2,%/'8"/# !#,'4-'8"/#"f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

HfS`g"oST1YSTIS K-/%"%"2#89%32%!9#8"4';'"0sS;-$-%!'"J ?%89%8"E'K-$-D S89'8" $'4%$#8" %92%#!" %" 4-#!9'8" /# 4';#!8%$#8"%$"%&'G"L3#"-!4$38'"$$#,%! %"E%=-9M!"?%89#!#"8.$'"=%2%"%$;'27%2"' 4#!%2D"S8"L3#"4'!'4-/%8"8'!"838"=%89%8 4%8#2%8"N#4N%8"4'!"$%8"2#4#9%8"'2-,-!%$#8 /#"$'8"!'!'8G"L3#"9%;:-F!"638-'!%!"838 -!,2#/-#!9#8"4'!"$'8"8%:'2#8"95=-4'8"/# $%"2#,-.!G"4';'"#$";#2c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

'6/6()2%'6$&5"%6 I'/'" $'" %!9#2-'2G" N%" N#4N'" L3# -!89-934-'!#8"=B:$-4%8"J"=2-K%/%8"6-O#! 838"'O'8"#!"$%"4';3!-/%/"=%2%"8#,3-2 ='9#!4-%!/'"83"/#8%22'$$'D"S$"E'!8#O' +#,-'!%$"/#"I32-8;'"/#"0%"12%34%!5%G E'2#932G"#8"3!%"/#"#$$%8G"L3#"%"92%KF8

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f/#!9-/%/"#!"$% 0 '4%$-/%/" /#" E%=-9M!" ?%89#!#_G 6-!%!4-%/'" ='2" f!!'K%" EN-$#" E'26'G :384%" -!89%$%2" 4';=#9#!4-%8" #!" $'8 #;=2#!/#/'2#8"$'4%$#8G";#O'2%!/'"83 4';=#9-9-K-/%/D ]S89%;'8"N%4-#!/'"3!"92%:%O'"/# 92%!86#2#!4-%" /#" 4'!'4-;-#!9'" J N%:-$-/%/#8G" =%2%" L3#" $%8" =#L3#&%8 #;=2#8%8"J"%,23=%4-'!#8"L3#"N%J"#! ?%89#!#G"J%"8#%"43$932%$#8G"/#"%29#8%!'8G '" #;=2#8%2-'8G" =3#/%!" ;#O'2%2" $% 4';=#9-9-K-/%/" J" %4'29%2" $%8" :2#4N%8 =2#8#!9#8"#!"#$"8#49'2G"#!"='8"/#"3! 932-8;'" 8'89#!-:$#" #!" #$" 9-#;='G %92%49-K'"J"4'!"-/#!9-/%/_G"#V=$-4%"H-#,' o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

1+


!!"(.($(#%(/#0"!!

!U$,%T*+$,%19$41)$%1 )*+$,/010%&1,%;$0/1&*D1,%)*& /0191:$%10/(4.&1)$%*#%/$0#$%1%.# +(,+$%$9:*/('$6%-.*%*#%*,/* 41,$%*,%*&%;$0/1&*4(+(*#/$%)*& /.0(,+$6%<$0-.*%40**+$,%-.* C1<(/L#%F1,/*#*%/(*#*%/$)$%<101 ,*0%.#$%)*%&$,%)*,/(#$,%+1, <$/*#/*,%)*%&1%0*2(5#%7%*&%<1H,=6 R(*2$%V*#1'*#/*6%R(0*4/$0 K:*4./('$%)*%C$0*/.0B #$"'2'G"J"#!"#89'"H-#,'"o#!%K#!9#"N% 8-/'":-#!"#8=#4-%$G"!'8"N%"/%/'"M!-;'G 63#27%" J" ,%!%8" /#" N%4#2" $%8" 4'8%8G 8-#;=2#"#89M"='2"%4MD"?#2'"42##;'8"L3# N%4#" 6%$9%" 3!" -;=3$8'" ;%J'2" =%2%

1,

-!K#29-2"#!"$%8"4%8'!%8"L3#"9#!#;'8G"J 92%!86'2;%2$%8" #!" ;38#'8G" #!" ;M8 2#89%32%!9#8G"J"=%2%"='/#2"2#4'!8923-2 !3#892'"4$3:"-9%$'<4N-$#!'"L3#"8#"!'8 L3#;.]G";#!4-'!%"?2-;'"E'29#8-DDDDDDDDD

,#89-'!%2"6'!/'8"=B:$-4'8"L3#"=#2;-9%! 2#8,3%2/%2"#$"=%92-;'!-'W"J"/#$-;-9%2 3!"4-243-9'"932589-4'"4'!"-/#!9-/%/G"='2 #O#;=$'" #!92#" E%=-9M!" ?%89#!#" J E'!93$;'D

?'2"#$";';#!9'G"#!"#89#"='4'";M8 /#"3!"%&'"/#"92%:%O'G"%/#;M8"/#"$%8 4';=#9#!4-%8" -!89%$%/%8G" #$" T'/' 9%;:-F!"N%"$',2%/'"$%"6'2;%4-.!"/#"3!% ;#8%"/#"92%:%O'"/#"932-8;'G"-!9#,2%/% ='2"/-#7"%49'2#8"$'4%$#8"2#=2#8#!9%!9#8 /#" #;=2#8%2-'8" ,%892'!.;-4'8" J" /# %,23=%4-'!#8"4';'"]I2-43$932%$_G"]g2' K#2/#]G"]>%!'8"/#"E%=-9M!"?%89#!#]G L3#":384%"$%"3!-.!"/#"9'/'8"$'8"8#49'2#8G 83"#;='/#2%;-#!9'"J"L3#"4'!9-!B#"#! #$" 9-#;='" 92%8" #$" 9F2;-!'" /#$" T'/'D

I'/'"#89'"#8"#K%$3%/'"='2"3!"E';-9F S892%9F,-4'G"4';=3#89'"='2"#;=2#8%2-'8 /#" $%" $'4%$-/%/G" 2#=2#8#!9%!9#8" /# [#2!%932G"E'26'"J"/#"$%">3!-4-=%$-/%/ /#"03;%4'G"L3#"%!%$-7%"#$"%K%!4#"/#$ T'/'G" =2'='!#" !3#K%8" -!-4-%9-K%8" J #K%$B%"$%"=$%!-6-4%4-.!"#89-=3$%/%"#!"#$ =2'J#49'"-!-4-%$D

1/#;M8G"8#"N%"#89%/'"%='29%!/'"%$ 9#;%"=%92-;'!-%$G"%"92%KF8"/#"3!%";#8% /#"92%:%O'"#!92#"=#28'!#2'8"=B:$-4'8"J =2-K%/'8"/#$";3!/'"/#"$%"%2L3-9#4932%G L 3 # " % 4 ' 2/ . " # ! 9 2# " ' 9 2 % 8 " 4 ' 8 % 8 4'!4-#!9-7%2"%"$%"4';3!-/%/"8':2#"$% -;='29%!4-%" /#" 83" -/#!9-/%/" %2L3-< 9#49.!-4%G" 4'!" 8#;-!%2-'8" J" 9%$$#2#8W

]E3%!/'"-!-4-%;'8"#$"92%:%O'"4'!"#$ T'/'"/#9#49%;'8"L3#"N%:5%!"/-K#28%8 -!-4-%9-K%8" K%$-'8%8" #!" #89%" $'4%$-/%/ =#2'"92%:%O%!/'"#!"6'2;%"%-8$%/%G"='2 $'"L3#"!'8"N#;'8"%:'4%/'"%"/#;'892%2 $%8"6'29%$#7%8"/#$"92%:%O'"%29-43$%/'"#! 9'2!'"%"3!";-8;'"':O#9-K'G"L3#"#!"#89# 4%8'"#8"#$"6'29%$#4-;-#!9'"/#$"932-8;'G ='2L3#"42##;'8"L3#"E%=-9M!"?%89#!# 9-#!#"9'/'"=%2%"8#2"3!'"/#"$'8"/#89-!'8 ;%8"='9#!9#8"/#"$%"2#,-.!"J"#$"=%58_G 4'!4$3J#"H-#,'"o#!%K#!9#D


!!"(.($(#%(/#0"!!

8#,-%*9:;9.

7#'&0+#)8%(9& 2):;)(<#, :*+'*(3%"-/H"'/;(#7#10E/1/*(30+#'/&,","(0+#<&*%0(#-0+#3*1"+ A&*#1"%'"%0(#-"#,='/1"#E*%+/;(#,*-#O('&*(3%0#O14%*+"%/"-#,* !"#$%"&'"()"6#A&*#'0(E0';#"#12+#,*#1/-#"+/+3*(3*+#7#0('* %*-"30%*+6#*(3%*#*14%*(,*,0%*+#7#4*%+0("-/,",*+#,*-#1&(,0#,* -"#"'",*1/"#7#-"#40-)3/'"6#A&/*(*+#4%0<&(,/H"%0(#+08%*#*-#"E"('* ,*-#4")+#7#*-#%0-#,*#-"#'/&,","()"?

1-


$

!!"(.($(#%(/#0"!!

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o%O'" $%" 4'!K'4%9'2-%" ]>';#!9' E$%K#_G" ;M8" /#" ;-$" %8-89#!9#8" 8# 2#3!-#2'!"#!"#$"E#!92'"/#"E'!K#!4-'!#8 /#$"e'9#$"H2#%;8G"L3-#!#8"#8434N%2'! %"$'8"'!4#"2#$%9'2#8"/#"=2-;#2"!-K#$"L3# 2#%$-7%2'!" 838" =2#8#!9%4-'!#8" #!" #$ ;%24'" /#" $%" -!4#29-/3;:2#" ;3!/-%$ 2#8=#49'"%"$%"#89%:-$-/%/"/#"$'8";#24%/'8G J"#$"4$-;%"/#"#6#2K#84#!4-%"8'4-%$"L3# 8#"K-K#"#!"$%"%493%$-/%/D

>1+I1"01`g[

/2#!++6$$6(7(/2#%2')+!$"8!%"&' >%29%" 0%,'8G" H-2#49'2%" /#" $% E'2='2%4-.!"0%9-!':%2.;#92'"J"/#">'2EN-$#G" =%29#" /#$" =%!#$" -!-4-%$ ]`$':%$-7%4-.!G" 4#!92%$-8;'" J" /#8%< 22'$$'_G"#!92#,."4-62%8"J"/%9'8"8':2#"$% 8-93%4-.!"/#"EN-$#"J"0%9-!'%;F2-4%"% !-K#$"#4'!.;-4'"J"8'4-%$G"$3#,'"/#"$' 43%$"%:'2/."#$"9#;%"/#"$%8"2#,-'!#8"J"$% -;='29%!4-%"/#"/#O%2"#$"4#!92%$-8;'D"][!'"8#"$',2%"L3#"$%8"2#,-'!#8"9#!,%!";M8 =#8'G"!'"K%;'8"%"$$#,%2"%"/#8%22'$$%2!'8 4';'"=%58_G"8'893K'D S$" H-2#49'2" /#" S;=2#8%8G" e%!8 S:#!G"L3-#!"9%;:-F!"6'2;."=%29#"/# # 8 9 # " ; - 8 ; ' " = % ! # $ G " 2# K # $ . " $ % 8 4-243!89%!4-%8" L3#" 4%2%49#2-7%!" %$ ;3!/'" #!" $%" %493%$-/%/G" /'!/#" $% %:3!/%!4-%"/#"$%"9#4!'$',5%"J"#$"#V4#8' /#"-!6'2;%4-.!G"#!"4'!O3!9'"4'!"3!% #4'!';5%"/#84%2!%/%G"N%!"=2'/34-/' 3!%"42-8-8";3!/-%$G"!'"8.$'"6-!%!4-#2% 8-!'"8'4-'$.,-4%G"L3#"<8#,B!"F$<"#8"/-654-$ /#"83=#2%2D ]?%2%";5G"8#&'2#8G"N#;'8"$$#,%/'"% $%"9#24#2%",3#22%";3!/-%$G"#89M"4$%2'G #8"3!%",3#22%";3J"/-89-!9%"%"$%8"9%!,-:$#8 L3#"K-;'8"/#"$%"=2-;#2%"J"$%"8#,3!/% ,3#22%" ;3!/-%$G" F89%" #8" ;34N'" ;M8 4'89'8%G";34N'";M8"/'$'2'8%G"='2L3# #8"8-$#!4-'8%G"4'!#49%/%G"83:9#22M!#%"J 4'!9%,-'8%_G"8#&%$."#!"3!%"=2#8#!9%4-.! ;%24%/%" ='2" 83" /-!%;-8;'" J" =2'< 63!/-/%/D

e1T["SoST

S89%" 42-8-8" ;3!/-%$" N%" $#K%!9%/' ;'K-;-#!9'8" #!" /-89-!9'8" =%58#8G" #! 2#%44-.!"%$";'/#$'"='$59-4'"J"#4'!.;-4'G L3#"!'"4'!8-/#2%"$%"-;='29%!4-%"/#"$' $'4%$"J"2#,-'!%$D"185"$'";%!-6#89%2'!"$'8 =%!#$-89%8"/#$"=%!#$"]H-892-:34-.!"/#$ ?'/#2_G"H%K-/"`%$$%,N#2G"E'$3;!-89%"J ?2#8-/#!9#" /#" 188#9" EN-$#G" ?%92-4-' T%K-%G"S842-9'2"J"E-#!9-89%"?'$59-4'G"J"#$ ?#2-'/-89%" #" f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o%22%!4'!#8"'"?3!9%"EN'2'8G"='2L3# %N5"L3#/."8B=#2"#89%:$#4-/'"L3#"$%"6'2;% =%2%"#O#24#2"=2#8-.!"#!"#89#",':-#2!' #8" 8%4%2" ,#!9#" %" $%" 4%$$#_G" #!6%9-7. ?%92-4-'"T%K-%D S!"9%!9'"H%K-/"`%$$%,N#2"#V=2#8. L3#"#$"S89%/'"6%$$%"#!"!'"8#2"-!4$38-K' #!";%9#2-%"/#"#/34%4-.!"J"9%;:-F!"4'! $%8"2#,-'!#8D"]I#!#;'8"3!%"92%/-4-.!

?1I+fEfg"T1Yf1

"IF!NO( S!"#89%"/F4-;%"K#28-.!"#$"?2#;-'"%"$%"I2%J#49'2-%"S;=2#8%2-%$"H#89%4%/%"2#4%J."#!"$'8"#;=2#8%2-'8">.!-4%"`#:#29G /#"1,254'$%"[%!9%"E%2'$-!%G"J">%2-'"`%245%G"/#">3#:$#8">%,%8%D"1/#;M8"8#"#!92#,."3!%"/-89-!4-.!"#8=#4-%$"%$"]S;=2#!/#/'2 S;#2,#!9#_"%"1!-9%"S=3$#6G"='2"83"#;=2#!/-;-#!9'">%=34N#U">%=3"fJ%,$D

1*


!!"(.($(#%(/#0"!! :%89%!9#"4#!92%$-89%G"L3#"=2'K-#!#"/#$ 8-,$'" tftG" L3#" N%4#" L3#" $%8" 2#,-'!#8 L3#/#!"#V%,#2%/%;#!9#"='89#2,%/%8D S89#"=%58"9-#!#"3!%"':8#8-.!"='2"L3#"8# =2'/374%" 3!%" N';',#!#-7%4-.!_G 2#4%$4.D

!+)"%.$!%"&'(7 ,.$)"%.$).+!$"/!/ S!"#$";%24'"/#"#89#"4#!92%$-8;'G"$% 3!-.!"/#"9'/'8"$'8"%49'2#8"2#$#K%!9#8"#8 4$%K#"=%2%"L3#"8#"9';#"#!"43#!9%"%"$%8 2#,-'!#8D" 185" $'" ;#!4-'!." #!" 83 =2#8#!9%4-.!" h'8F" >-,3#$" >%29%:-/G ?2#8-/#!9#" /#" E'2=%2%34%!5%G" L3-#! =%29-4-=."O3!9'"%$">-!-892'"/#"S4'!';5%G ?%:$'" 0'!,3#-2%G" #!" #$" B$9-;'" =%!#$ /#!';-!%/'"]H#8=#29%2"E-3/%/%!'_G 2#8%$9%!/'"$%"!#4#8-/%/"/#"%29-43$%28# #!" =2'" /#$" /#8%22'$$'" 2#,-'!%$DDDDDDDDDDD

H1YfH"`1001`eS+

hg[n">f`ZS0">1+I1ofH

ug0X"YgT"1??ST

?1o0g"0gT`ZSf+1

;3!/'",$':%$G"$%"/-K#28-/%/"F9!-4%"/# #89%"2#,-.!"#8"3!"='9#!4-%$"#4'!.;-4'G 43$932%$G"/#"-!9#,2%4-.!_D"0%"%39'2-/%/ 2#$#K."%/#;M8"$%"$%:'2"/#"$%"X3!/%4-.! 12%34%!51=2#!/#G"='2"83"%='29#"#!"$% ;#O'2%"/#"$'8"5!/-4#8"/#"#/34%4-.!"#! $%"2#,-.!D

?'2"B$9-;'G"/#89%4%/'8"#;=2#8%2-'8 4';'"?2-;'"E'29#8-G"/#"E%=-9M!"?%89#!#G J"X#$-=#"?%843%$G"/#"E2J89%$"0%,''!8G 4%39-K%2'!"%$"=$#!%2-'"4'!"838"/-6#2#!9#8 N-89'2-%8G" 8-#!/'" #89%" B$9-;%" =2#8#!< 9%4-.!"3!%"/#"$%8";M8"%$%:%/%8G"='2"$% 4%$-/%/"/#$"!#,'4-'"J"83"=2'J#44-.!"% !-K#$";3!/-%$D

]0%8"8'$34-'!#8"%$"=2':$#;%"/#"0% 12%34%!5%"/#:#!"8#2",#!#2%/%8"/#8/#"J ='2" $%" =2'=-%" 12%34%!5%_G" /-O'G %=2'K#4N%!/'" /#" ;#!4-'!%2" $%8 ='9#!4-%$-/%/#8" /#" $%" 2#,-.!" J" $% -;='29%!4-%" /#" L3#" 8#" -!4'2='2#" $% 43$932%" ;%=34N#" %$" /#8%22'$$'D" ]S$ 6'29%$#4-;-#!9'" 8'4-'#4'!.;-4'" J 43$932%$"/#$"=3#:$'";%=34N#"/#:#"8#2 =2-'2-/%/"J"3!"4';=2';-8'"=%58_G"#V-,-.D Z!"9#;%"L3#"9%;:-F!"%:'2/."u'$6 K'!" 1==#!G" ?2#8-/#!9#" /#" o'8L3#8 E%395!G" L3-#!" #!" #$" =%!#$" ]S;=2#!< /-;-#!9'8"(D)_"#V=38'"8':2#"#$"?2',2%;% /#"X'2#89%4-.!">%=34N#"/#"83"#;=2#8%G 8#&%$%!/'" L3#" $'8" ]4';=%92-'9%8 ;%=34N#G"/3#&'8"/#"9-#22%G"/#:#!"8#2 $-:2#8"=%2%"/-8='!#2"/#"#$$%8G"-!4$3J#!/' $%"='8-:-$-/%/"/#"K#!/#2$%8G"N-='9#4%2$%8 J"%22#!/%2$%8_D S$">-!-892'"0'!,3#-2%"-,3%$;#!9# 4'-!4-/-."#!"L3#"$%";3$9-43$932%$-/%/ /#"0%"12%34%!5%"#8"63!/%;#!9%$"=%2% 83" =2',2#8'G" %6-2;%!/'" L3#" ]#!" 3!

,NKFD%,F%FDFJG ]j3-#2'"8%$3/%2";3J"#8=#4-%$;#!9#"%"$'8";-#;:2'8"/#"$% E'2='2%4-.!" 12%34%!5%G" J" 6#$-4-9%2$'8" ='2" #89%G" J'" /-25%G -;=2#8-'!%!9#"/#;'892%4-.!"/#"-/#!9-/%/"AvC"[%!9-%,'"!' N%"9#!-/'"!3!4%"4';=#9#!4-%"J"=%2#4#"L3#"%N'2%"$%"#89M 9#!-#!/'_G" >%29%" 0 %,'8G" H-2#49'2%" E'2='2%4-.! 0%9-!':%2.;#92'"J">'2-"EN-$#D ]?%2%" ;5" N%" 8-/'" 3!%" 8'2=2#8%G" 2#%$;#!9#" !'" 8%:5%G" !' 4'!'45%"$%";%,!-93/"/#"#89'8"#!43#!92'8"J"!'"8%:5%"L3#"#$ 4#!92'"/#$"832"8#"N%:5%"4'22-/'"N%4-%"I#;34'G"#6#49-K%;#!9#_G 184%!-'"E%K%$$'G"?#2-'/-89%"#"f!K#89-,%/'2D

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

11


!!"(.($(#%(/#0"!!

PED,G,OIF(%,F%FDFJG S!"3!%"4#2#;'!-%"#8=#4-%$G"L3#"8#"$$#K."%"4%:'"/32%!9#"$% 92%/-4-'!%$"4#!%"=2#K-%"%"S!#$%G"E'2=%2%34%!5%"/-89-!,3-. %"L3-#!#8"4'!92-:3J#2'!"%"63!/%2"#$"#!43#!92'"#;=2#8%2-%$G J"N%!"8-/'"3!"%='29#"/#9#2;-!%!9#"/32%!9#"838"/-#7"%&'8 /#"K-/%D H#" #89#" ;'/'G" h'8F" >-,3#$" `%245%G" #V" ?2#8-/#!9#" /# E'2=%2%34%!5%W"S/3%2/'"w$#-!G"#V"H-2#49'2"SO#439-K'"/# E'2=%2%34%!5%W"e%!8"S:#!G"#V"?2#8-/#!9#"/#"f4%2#W"1$:#29' S8=-!%G"[#!%/'2W"1!/2F8">'$-!%G"f!9#!/#!9#"/#"0%"12%34%!5% J" #V" ?2#8-/#!9#" /#" E'2=%2%34%!5%W" J" h3%!" h%-;#" H5%7G [3:/-2#49'2" /#$" H-%2-'" S$" >#2432-'G" 2#4-:-#2'!" 3! 2#4'!'4-;-#!9'"/#";%!'8"/#$"?2#8-/#!9#"/#"E'2=%2%34%!5%G h'8F">-,3#$">%29%:-/"J"/#"#V"?2#8-/#!9#8"/#"$%"4'2='2%4-.!D ]0%"K#2/%/"#8"L3#"%$"4';-#!7'"!'8"=2#,3!9M:%;'8"L3F L3#25%;'8"4'!"S!#$%"J"J'"42#'"L3#"L3#/%"4$%2'"4'!"$'"L3#

#89M"=%8%!/'G"J"#8";3J"='8-9-K'U"S8"3!"/-%,!.89-4'"/#"$% 8-93%4-.!" !%4-'!%$" J" ;3!/-%$" /#" $%" #4'!';5%G" /#" $'8 6#!.;#!'8"8'4-%$#8"4';=%2%9-K'8"4'!"'92'8"=%58#8G"%/#;M8 8#"92%#!"%!%$-89%8"/#"$%"2#%$-/%/"='$59-4%"/#$"=%58G"$'"L3#"$# /%";34N'"8#!9-/'"%"$%"8'4-#/%/"/#"0%"12%34%!5%G"='2L3# 8'!"4'8%8"L3#"/32%!9#"#$"%&'"!'"8#"=2'/34#!G"#!9'!4#8"#8 3!"6'2'"#8=#49%43$%2"#!"#8#"8#!9-/'_G"8'893K'"S/3%2/'"w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h3%!"h%-;# H5%7D

X2%!4-84'"1$%!-8G"0'2#!7'"H3:'-8G"h'8F">-,3#$">%29%:-/G"1!/2F8">'$-!%G"h3%!"h%-;#"H5%7G"1$:#29'"S8=-!%G e%!8"S:#!G"h'8F">-,3#$"`%245%"J"S/3%2/'"w$#-!D

12


!!"%83#0"!!

='>"&0*&*#"&,)7(>.4?&,.

<,*5%*64%0(%#7%*%*='-'("#*>%--,? P%"+#-"#/(E/3"'/;(#,*#&(#%*4%*+*(3"(3*#,*#-"#F21"%"#,*#F01*%'/0#G/+4"(0"1*%/'"("#,*#@"(#Q0+= ,*#F"-/<0%(/"6#&(#.%&40#,*#R;E*(*+#*14%*(,*,0%*+#,*-#2%*"#,*#-"#/(<0%123/'"#7#-"+#'01&(/'"'/0(*+ E/"R;# "# O+3",0+# S(/,0+# '0(# *-# 4%04;+/30# ,*# 403*('/"%# +&+# (*.0'/0+6# .*(*%"%# %*,*+# 7# 3%"*% '0(0'/1/*(30#,*+,*#*-#4%/('/4"-#'*(3%0#3*'(0-;./'0#,*-#1&(,0?

%

-6c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

%=2#!/-7%O#"%"#;=2#8%8"4';'"`'',$#G >-42'8'69"J"1==$#D"]E2##;'8"L3#"8-! /3/%"#89#"#8"#$"-!-4-'"/#"3!"=2'J#49'"/# 92%!86#2#!4-%" /#" 4'!'4-;-#!9'8" L3# =3#/#"N%4#2"/#"[-$-4'!"Y%$$#J"!3#892' =%9-'G"J"L3#"!'8"=#2;-9%"K-%O%2"92#8"K#4#8 %$" %&'" N%4-#!/'" 3!%" 4'!#V-.! /-!M;-4%_G"8'89-#!#"S;#28'!">%25!D

$!(636+).'"/!/ I'/'"4';#!7."#!"#$"=2-;#2"8#;#892# /#"()@(G"43%!/'"+3:F!"e#2!M!/#7G ?2#8-/#!9#"/#"T3#K'8"T#,'4-'8"/#"$% EM;%2%" /#" E';#24-'" e-8=%!'%< ;#2-4%!%"/#"[%!"h'8F"/#"E%$-6'2!-%G L3#" $$#,." %" I#;34'" -!K-9%/'" ='2" $% 1,#!4-%"+#,-'!%$"/#"H#8%22'$$'G"'2,%!-7. 3!%"2#3!-.!"#V92%"'6-4-%$"%"83"%,#!/% =%2%"4'!'4#2"=2'J#49'8"/#"#;=2#!/-< ;-#!9'"/#"O.K#!#8";%=34N#8D"X3#"%85 4';'" #!92#" ;M8" /#" 4-!43#!9% #;=2#!/#/'2#8G"e#2!M!/#7"8#"-!9#2#8. #!" #89'8" 8-#9#" O.K#!#8" J" $'8" -!K-9." % [-$-4'!"Y%$$#JD

I2%8"#$$'G"$'8"#;=2#!/#/'2#8"L3#"#! #8#"#!9'!4#8"!'"8#"4'!'45%!G"8#"63#2'! 2#$%4-'!%!/'"J"%4#24%!/'"<N%89%"6'2;%2 #$",23='"\-6c%G"-!43:%/'2%"J"%4#$#2%/'2% /#"!#,'4-'8"9#4!'$.,-4'8<"J"%"$%8"='4%8 8#;%!%8" 4';#!7%2'!" %" '2,%!-7%2" #$ K-%O#"=%2%"#$"L3#"4'!8-,3-#2'!"%='J'"/# E'!%/-G" L3#" 4'" 6-!%!4-." $%" ;-8-.!" % 92%KF8"/#"3!"6'!/'"4'!4328%:$#DDDDDDDDDD S!"9'/'"#89'G"#$"%='J'"/#"$%"EM;%2% e-8=%!'%;#2-4%!%"/#"E';#24-'"/#"[%! h'8F"63#"K-9%$G"N%89%"$$#,%2"%"-!9#,2%2$'8 4';'"8'4-'8G"-!4$38'"%!9#8"/#"K-%O%2D"]0% $.,-4%" /#" $%" EM;%2%" #8" L3#" K%" #! :B8L3#/%" /#" !#,'4-'8" #!" 9'/' 0%9-!'%;F2-4%G"J"6'2;%"4-#29'8"K5!43$'8 4'!" $%8" #!9-/%/#8" /#" ,':-#2!'D" 0% 4';='!#!"%$2#/#/'2"/#"43%92'4-#!9'8 4-!43#!9%" ;-#;:2'8" J" 9'/'8" 9-#!#! #;=2#8%8"/-89-!9%8"J"#89M!"='8-4-'!%/%8 #!"=%29#8"#8=#456-4%8"/#!92'"/#"$'"L3# #8"$%"#4'!';5%"#89%/'3!-/#!8#G"%85"L3# #8";3J"-;='29%!9#"L3#"!'8"%=%/2-!#_G 43#!9%"[#2,-'"?'K#%D

15


!!"%83#0"!!

!K,/$,%+*,*,%-.*%T*+$,%*,/1)$ *#%*&%I1&&*%)*%@(&(4$#%T1#%,()$ 2*#(1&*,6%*,<*4(1&+*#/*%<$0%&1 201#%41#/()1)%)*%0*)*,%-.* T*+$,%T*4T$%7%<$0-.*%#$,%T1# <*0+(/()$%*#/*#)*0%45+$ ;.#4($#1%*&%+.#)$%)*%&$, #*2$4($,=6%A104*&$%C1/0(&*$6 *+<0*#)*)$0%)* >01.41#H1%@(#%?0$#/*01,B

E'!83$%/'"4N-$#!'"#!"S89%/'8"Z!-/'8D

3+",2+6#(-+.)6# S!" S89%/'8" Z!-/'8G" $'8" #;=2#!< /#/'2#8"N%!"'2,%!-7%/'"83"%,#!/%"/# 9%$";'/'"L3#"#$"=2-;#2";#8"63#"=%2% 4'!'4#2" -!43:%/'2%8G" 3!-K#28-/%/#8G 4#!92'8"/#"-!K#89-,%4-.!"J"#;=2#8%8G"J #$"8#,3!/'"=%2%",#!#2%2"2#3!-'!#8"J #892%9#,-%8"/#"!#,'4-'"=%2%"4%/%"3!'"/# $'8"#;=2#!/-;-#!9'8G"9'/'"4'!"#$"':O#9' /#":384%2"-!K#28-'!-89%8"J"4'!'4#2";M8 #$" #4'8-89#;%G" J" =2-!4-=%$;#!9#G #89%:$#4#2"2#/#8D ]j3#2#;'8",#!#2%2"92%!86#2#!4-% 9#4!'$.,-4%"=%2%"%='29%2"#!"$%"2#,-.!G 8':2#"9'/'"#!"#$"M2#%"/#"#;=2#!/-;-#!9' #"-!!'K%4-.!G"=%2%"/#8%22'$$%2"!3#K'8 !#,'4-'8"J"K-!43$%2!'8"4'!"9'/%"#89% 2#/"/#"[-$-4'!"Y%$$#J_G"%8#K#2%">%24#$' E%92-$#'D \" #$" K-%O#" N%" /%/'" 838" =2-;#2'8 6239'8D"\%"N%!"8'89#!-/'"2#3!-'!#8"4'! %39'2-/%/#8" /-=$';M9-4%8" 4';'" #$ E.!83$"/#"f!/'!#8-%G"[-!,%=32G"J"4'!

,23='8"/#"-!K#28-'!-89%8"#"-!43:%/'2%8 4';'"='2"#O#;=$'"?$3,"x"?$%JG"f;=3$8% o38-!#88G"#!92#"K%2-'8";M8G"%/#;M8"/# K-8-9%8"%"#;=2#8%8"4';'"E-84'"[J89#; f!4W"J"=2#8#!9%4-'!#8"%"-!89-934-'!#8 4';'"$%"Z!-K#28-/%/"/#"[9%!6'2/G"#! /'!/#"K-8-9%2'!"$%"S843#$%"/#"T#,'4-'8 =%2%"4';=%29-2"838"=2'J#49'8"4'!"$'8 %$3;!'8" 4N-$#!'8" L3#" %$$5" #893/-%!D

?'2"#$";';#!9'G"92%8"$%"$$#,%/%"% EN-$#" $%8" =2-;#2%8" %44-'!#8" #89%2M! '2-#!9%/%8" %" =2#=%2%2" $%" =3#89%" #! ;%24N%"/#"\-6c%G"L3#"J%"9-#!#"4-#29'8 =2'J#49'8"#!"4%2=#9%G"J"/#8%22'$$%2"/# ;#O'2" ;%!#2%" 838" #;=2#!/-;-#!9'8 =#28'!%$#8G" 4'!" $'8" 4'!9%49'8" J" $%8 =2'J#44-'!#8"4';#24-%$#8"L3#"$',2%2'! 4'!"-!K#28-'!-89%8"#!"S89%/'8"Z!-/'8D

][-!4#2%;#!9#" #8" 4';=$-4%/' /#842-:-2"9'/'"$'"L3#"N#;'8"K-K-/'D"S89'8 ;#8#8"L3#"N#;'8"#89%/'"#!"#$"Y%$$#"/# [-$-4'!"N%!"8-/'",#!-%$#8G"#8=#4-%$;#!9# ='2"$%",2%!"4%!9-/%/"/#"2#/#8"L3#"N#;'8 N#4N'" J" ='2L3#" !'8" N%!" =#2;-9-/' #!9#!/#2"4.;'"63!4-'!%"#$";3!/'"/# $'8"!#,'4-'8D"1/#;M8G"$%"`2#%9#2"[%! h'8F"e-8=%!-4"EN%;:#2"'6"E';;#24# !'8" N%" :2-!/%/'" #$" ;#!9'2-!," /# !#,'4-'8"4'!#49M!/'!'8"4'!"/-K#28%8 =#28'!%8" 2#$#K%!9#8G" L3#" !'8" N%! %='J%/'"#!"#$"/#8%22'$$'"/#"4%/%"89%29 3=]G"%,2#,%"E%92-$#'D

E%:#"/#89%4%2"L3#"%!9#8"/#"=%29-2G $'8"#;=2#!/#/'2#8";%=34N#8"63#2'! 2#4-:-/'8"#!"#$"?%$%4-'"/#"0%">'!#/% ='2" #$" >-!-892'" /#" S4'!';5%G" ?%:$' 0'!,3#-2%W"#$"Y-4#=2#8-/#!9#"SO#439-K' /#"E'26'G"e#2!M!"EN#J2#W"J"#$"H-2#49'2 T%4-'!%$" /#" E'!%/-G" h'2,#" +#9%;%$G L3-#!#8"2#4%$4%2'!"$%"-;='29%!4-%"/# #89#"K-%O#"4';'"3!"N-9'"='2"#$"4%2M49#2 ;3$9-43$932%$" /#" $%" #V=#2-#!4-%D ?2#K-%;#!9#" 9%;:-F!" 93K-#2'!" 3! #!43#!92'" 4'!" #$" ?2#8-/#!9#" /#" $% +#=B:$-4%G"[#:%89-M!"?-&#2%D

JO(%F!"IFD,N!NFDQO( S;#28'!" >%25!" J" [#2,-' ?'K#%G" f!,#!-#2'" E-K-$ f!6'2;M9-4'" #" f!,#!-#2' E';#24-%$G"2#8=#49-K%;#!9#G 8'!" /3#&'8" /#" jX%49'2G #;=2#8%"L3#"8#"/#/-4%"%"$% ,#!#2%4-.!"/#"8'69y%2#"=%2% #;=2#8%8" J" #!9-/%/#8 ,3:#2!%;#!9%$#8D"I%;:-F! 9-#!#!"3!%"%=$-4%4-.!";.K-$ L3#"%=3!9%"%$"!#9y'2c-!,"J $%8" 2#$%4-'!#8" =#28'!%$#8G 9-='"2#/"8'4-%$D

19

>%24#$'" E%92-$#'" J" 12-#$ [%%K#/2%G"f!,#!-#2'8"E-K-$#8 f!/3892-%$#8G" =2#8#!9%!" % 12%34%!5%" [-!" X2'!9#2%8G 8-9-'"y#:"/#"932-8;'"F9!-4' L3#" 63!4-'!%" 4';'" 3!% 4';=$#9%",35%"='2"7'!%8"J 23:2'8D

12-#$" I2%-=-G" H-8#&%/'2 `2M6-4'G"#8"63!/%/'2"/#"$% #;=2#8%"1J#c%!G"L3#",#!#2% =2'/349'8"/#"#!92#9#!4-.! J"#/34%4-.!"4'!"=#29-!#!4-% 43$932%$" ;%=34N#G" 4';' !%-=#8" '" 9%:$#2'8" 4'! =#28'!%O#8"/#"#89%"43$932% %!4#892%$G" %/#;M8" /# 4%$#!/%2-'8G"%,#!/%8G"#94D

E2-89-%!"I'22#8"J"X2%!4-84' [%$-!%8"8'!"$'8"42#%/'2#8"/# +#-![J89#;G"=$%9%6'2;%"/# ;'!-9'2#'"/#"8#!8'2#8G"L3# =#2;-9#" %!%$-7%2" /%9'8" J 2#='29#8" /#" 9#22#!'8" #! :#!#6-4-'"/#"$'8"%,2-43$9'2#8D


!!"#4#&$#.:#"8."8'"3&.);"!!

G@.38/1%K56:2

3&40#%#6@()/00#9(*#"( 3%4%*,&34,/%/*@,-*&0#@" :*+,*#!"#$%"&'"()"#&(#R0E*(#".%;(010#,*'/,/;#/140%3"%#*-#=T/30#,*#&("#*14%*+"#"-*1"("6 0<%*'/*(,0#+0-&'/0(*+#,*#,*+"%%0--0#7#&+0#,*#3*'(0-0.)"+#,*#/(<0%1"'/;(#"#/(,&+3%/"+#7#".%/'&-30%*+ A&*#8&+'"(#1*R0%"%#-"#'"-/,",#,*#+&+#+&*-0+?#G076#$.%0+"3#F>/-*6#*+#-"#B(/'"#</-/"-#,*#-"#*14%*+" *(#*-#1&(,0#7#,*+,*#"'2#*T40%3"#+&+#+*%E/'/0+#"#,/E*%+0+#4")+*+?

&

,2'8%9" #8" 3!% 4';=%&5%" %$#;%!% /#/-4%/%"%$"/#8%22'$$' J" 38'" /#" 9#4!'$',5%8 /#" -!6'2;%4-.!G #!6'4%/%" %$" 8#49'2 8-$K'%,2'=#43%2-'D" [3" N-89'2-%" 2#K#$% L3#"!%4-."#!"o#2$5!G"#!"@RR@G"%"=%29-2 /#" $'8" =2-;#2'8" 92%:%O'8" /# 8#!8'2%;-#!9'8"2#;'9'8"4'!"-;M,#!#8 8%9#$-9%$#8"=%2%"$'8"83#$'8"%,254'$%8"='89< 2#3!-6-4%4-.!G"J"%493%$;#!9#"9-#!#"3!% 6-$-%$" #!" EN-$#" L3#" N%" 8-/'" 4%=%7" /# 2#=$-4%2"#$"FV-9'D I'/'"=%29#"43%!/'"#!"@RRk"3!"O'K#! X2%!4-84'" >%99#G" #893/-%!9#" /# 1,2'!';5%"/#"$%"Z!-K#28-/%/"13892%$G

2#%$-7%" 83" 9#8-8" /#" =2#,2%/'" #! `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

N-4-;'8"4%2,'"/#"9#2;-!%2$'D"X-!%$;#!9# #$" 9#;%" =2#!/-." ;3J" 63#29#G" ='2L3# #89M:%;'8" 38%!/'" 9#4!'$',5%" `?[ 43%!/'" %B!" !'" 8#" 39-$-7%:%" #!" $'8 4%;='8G"J"#;=#7%;'8"%"9#!#2"/#;%!/% J" 4$-#!9#8G" ='2" $'" L3#" 8#" /-'" $% '='293!-/%/" /#" 42#%2" $%" #;=2#8%" #! EN-$#G" 8-#!/'" J'" 3!'" /#" $'8" 8'4-'8_G 4';#!9%"#$"1,2.!';'G"%N'2%"H-2#49'2 SO#439-K'"/#"1,2'8%9"EN-$#D

)2%'6$650!("''61!/6+! S$"8#2K-4-'"/#89%4%/'"/#"1,2'8%9"#8 #$" 1HTp[3#$'" A1!M$-8-8" J" H#8%22'$$' T392-4-'!%$CG"3!"8-89#;%"L3#"=#2;-9# ;%=#%2"$'"L3#"9-#!#"L35;-4%;#!9#"#$ 83#$'G"/'!/#"8#"=3#/#!"K#2"/'8-8"/#

16


!!"#4#&$#.:#"8."8'"3&.);"!! !-92.,#!'G" 6.86'2'G" ?eG" #!92#" '92%8W 39-$-7%!/'"%$,3!%8";3#892%8"#8=#456-4%8 =#2'" 9%;:-F!" -;M,#!#8" 8%9#$-9%$#8" J 9#4!'$',5%8"/#",#'#89%/589-4%G"%"92%KF8 /#"83"9#4!'$',5%"=2'894N#4D S89'"N%"/%/'"%"$%"#;=2#8%"3!"FV-9' L3#"$#"N%"=#2;-9-/'"#89%2"%"$%"=%2"/#"83 4%8%" ;%92-7G" 9#!-#!/'" /'8" 8'4-'8" #! 1$#;%!-%G" o#2!/" H';#!" J" Z$2-4N u%,!#2G" J" 4'!9%!/'" 4'!" 4%=-9%$#8 #V92%!O#2'8"J"!%4-'!%$#8G"%3!L3#"9-#!# 9'9%$"%39'!';5%"#!"83"#89234932%"J"#! 83"/#8%22'$$'"4';#24-%$D"I2%:%O%"4'!"(l 4';=%&5%8G"/#"$%8"43%$#8"#$"P)^"8'! #;=2#8%8" /#" 6#29-$-7%!9#8" '" /# %,2'-!83;'8G"#!92#"$%8"L3#"/#89%4%! E'$B!G" 1,2'9'=G" X'2#89%$" >-!-!4'G X#2'8'2G"Y-&%8">%4%J%G">%$9#84'G"X238%! J"['=2'$#G"#!92#"'92%8D 0'8"2#83$9%/'8"#89M!"%"$%"K-89%U"e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fff E'!,2#8'"/#"19%$%4"J"#$"ft"E'!,2#8'"/# I#4!-4%&%G" 2#%$-7%/'" #!" E'$';:-%G /'!/#"#$"H-2#49'2"SO#439-K'";'892."$%8 K#!9%O%8"/#$"=2',2%;%"1HT<[3#$'G"L3# ='2" 4-#29'" 6'2;%" =%29#" /#" 3!" ?$%! f!9#,2%$"/#"T392-4-.!"4'!"I#4!'$',5% [%9#$-9%$"A?-!8%9C"#!"/-4N'"=%58DDDDDDDDD

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

27

X+1TEf[Eg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


!!"83<48.)(3(8.%;0"!!

Q.-9%R/074<4:28

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

&

$'8" @R" %&'8" /#" #/%/G Y549'2"[%-7"#2%"3!"O'K#! 4';'"43%$L3-#2"'92'D"0# ,389%:%" O3,%2" 6B9:'$G %!/%2"#!":-4-4$#9%G"8%$-2 4'!" %;-,'8G" 9'4%2" #! 3!%":%!/%G"J"3!"8-!65!"/#"%49-K-/%/#8 ;M8D"?#2'"3!"6%95/-4'"/5%"/#"#!#2'"/# @RRR"3!"%44-/#!9#"%39';'K-$589-4'"#!

0-4%!"+%JG"$#"4%;:-."$%"K-/%U"Z!",2%K# /%&'"#!"$%"4'$3;!%"$'"/#O."#!"8-$$%"/# 23#/%8" J" 8-!" K'$K#2" %" 4%;-!%2D" S89# 4%;:-'G" !'" ':89%!9#G" $#" /-'" $% '='293!-/%/"/#"#;=2#!/#2"J",#!#2%2 %44#8'"=%2%";34N%8"=#28'!%8"4';'"F$D [#"92%9%"/#"I23;"e%!/4J4$#8G"3! /-8='8-9-K'" ;#4M!-4'G" /#" 92%44-.!

;%!3%$G"L3#"8#"%4'=$%"%"3!%"8-$$%"/# 23#/%8"J"$%"92%!86'2;%"#!"3!%":-4-4$#9%G $'"L3#",#!#2%"3!"2M=-/'"92%8$%/'D"\"!' #8"4'-!4-/#!4-%"L3#"I23;"8-,!-6-L3#"#! ;%=3/3!,3!"8#2"-,3%$G"J%"L3#"/#8/#"83 %44-/#!9#G"Y549'2"8-#;=2#"93K'"4$%2'"L3# !'" L3#25%" 8#2" 92%9%/'" /#" ;%!#2% /-6#2#!9#G"!-"L3#"$'";-2%8#!"#!";#!'8D

2+


!!"83<48.)(3(8.%;0"!!

/2)2%)!'/6($!(636+).'"/!/ 03#,'"/#"/#O%2"#!"L3-!9'"%&'"3!% 4%22#2%"/#"-!,#!-#25%G"=2-!4-=%$;#!9# ='2" =2':$#;%8" #4'!.;-4'8G" Y549'2 /#4-/-."#893/-%2"H-8#&'"f!/3892-%$G";M8 %4'2/#"4'!"$'"L3#"#2%!"838"-!9#2#8#8"#! #8#";';#!9'G"]%/#;M8G"8-#;=2#"#89%:% -!K#!9%!/'"4'8%8G"=#!8%:%"J"=2':%:% /-89-!9%8"4'8%8"4'!"#$"6-!"/#"6%4-$-9%2;# $%"K-/%G"J"='/#2"9#!#2";%J'2";'K-$-/%/_G /#842-:#D S89'G" 83;%/'" %" L3#" %!9#8" /#$ %44-/#!9#" $#" #!4%!9%:%" %!/%2" #! :-4-4$#9%"#"-2"%$"E#22'"z-#$'$G"$'"$$#K."% =#!8%2"#!"3!"-!K#!9'"L3#"$#"=#2;-9-25% $',2%2"83"':O#9-K'D"]T'"L3#25%"/#=#!/#2 /#"!%/-#G";#"4%2,%:%"92%8$%/%2;#"8-! ;-"8-$$%G"#$$%"#8"=%29#";5%G"=%29#"/#";43#2='D"185"L3#"4';#!4F"%"/#8%22'$$%2 3!%" #8=#4-#" /#" =2'9'9-='" L3#" ;# =#2;-9-#8#"=#/%$#%2"4'!"$%8";%!'8"J =#!8FU"J%"9#!,'"/'8"23#/%8G";#"6%$9% 8.$'"/%2$#"-;=3$8'"%"#8%8"23#/%8G"J"$% 6'2;%"L3#"$'"='/5%"N%4#2"#2%"%"92%KF8 /#";-8";%!'8_G"%,2#,%D H#"#89#";'/'"42#."e%!/4J4$#G"L3# ,2%4-%8"%"83"/-8#&'"=#2;-9#"%$"383%2-' !'"4%!8%28#"9%!9'G"3!%";%J'2"/#892#7%G %39'!';5%" J" 3!" 8-!!B;#2'" /# ='8-:-$-/%/#8G"%44#8'"J"'='293!-/%/#8D ]0'"L3#"=#2;-9#"$%"e%!/4J4$#"#8"='/#2 ;'K#29#" %" 43%$L3-#2" =%29#" 4';'" 8%!/3K-#8#8"#!":-4-4$#9%"4';'"43%$L3-#2 =#28'!%G"J"#!"43%$L3-#2"9-='"/#"9#22#!'_G #V=$-4%"8':2#"#89%"!'K#/'8%";#74$%"#!92# :-4-4$#9%"J"8-$$%"/#"23#/%8D

-"'!'%"!,"2')6 S!" #$" ;#24%/'" N%:5%!" =2'/349'8 8-;-$%2#8G"=#2'"%"3!"=2#4-'"-!%$4%!7%:$# =%2%" $%" 2#%$-/%/" $%9-!'%;#2-4%!%D ]>%!/F"%"N%4#2"3!"#893/-'"#$"43%$"/#45% L3#"#!"EN-$#"4%8-"l))";-$"=#28'!%8"38%! 8-$$%" /#" 23#/%8G" #8#" #2%" ;-" =B:$-4' ':O#9-K'G" =#2'" /#" #8'8G" QR)" ;-$" 8'! =':2#8G"J"=#!8%:%"b4.;'"$#"K#!/'"%$,' L3#"%";5";#"43#89%"3!%"#!'2;-/%/"/# /-!#2'"6%:2-4%2d"%85"L3#"/#8%22'$$F"3! ;'/#$'" /#" !#,'4-'8" #!" /'!/#" #$ =2'/349'"8#"92%!86'2;%2%"#!"%8#L3-:$#_G 43#!9%D [%-7"!#4#8-9%:%"k)";-$$'!#8"=%2%"#$ =2'J#49'D"H#"#8'8G"l)"$'8"=38'"E'26'G ,2%4-%8" %$" %='J'" J" 2#8=%$/'" /#" $% f!43:%/'2%" /#" T#,'4-'8" /#" $% Z!-K#28-/%/"/#"0%"X2'!9#2%G"f!43:%9#4G L3#" N%89%" %N'2%" N%" 8-/'" 83" :2%7' /#2#4N'"#!"#$"#;=2#!/-;-#!9'D"?#2' =%2%"2#3!-2"#$"/-!#2'"2#89%!9#G"93K'"L3# 2#4322-2"%"$%"6%;-$-%G"$'8"%;-,'8"J"%"3! =2F89%;'":%!4%2-'D

2,

!W#%)H1%4$#'*0,1#)$%4$#%.# 4&(*#/*%+*%)(:$X%/.%144()*#/* *,/191%*,40(/$6%#$%;.*%1&2$ ;$0/.(/$6%T1%<*0+(/()$%)10 $<$0/.#()1)*,%7%;*&(4()1)%<101 +.4T1,%<*0,$#1,6%7%*&%,19*0%-.* *,/1+$,%1<$0/1#)$6%)*,)*%+( )*;(4(*#4(1%;H,(41%*,%1&2$%-.* &&*#1%)*%$02.&&$%7%&$%-.*%+* +$/('1%1%,*2.(0%T14(8#)$&$=B X-!%$;#!9#"$',2."42#%2"83"!#,'4-' J"N'J"I23;"e%!/4J4$#8"J%"$$#K%"K%2-'8 %&'8"#!"#$";#24%/'G"8-#!/'"3!%"#;=2#8% 2#4'!'4-/%" %" !-K#$" ;3!/-%$D" e% #V='29%/'"$%"e%!/4J4$#"%"=%58#8"4';' E'$';:-%G"Z23,3%JG"?#2BG"%/#;M8"/# K#!/#2$%"#!",2%!"=%29#"/#"EN-$#G"%"3! 43%29'"/#$"=2#4-'"/#"=2'/349'8"8-;-$%2#8 #!"#$";#24%/'D"1/#;M8G"#!"O3!-'"/#$ %&'" ()@(" 8#" 63#" #$" =2-;#2" #!K5'" /# :-4-4$#9%8"%$";#24%/'"#89%/'3!-/#!8#G #!"3!"83#&'"N#4N'"2#%$-/%/"=%2%"#89# #8=#4-%$" #;=2#!/#/'2D" I'/'8" #89'8 2#83$9%/'8"/-#2'!"=-#"%"L3#"Y549'2"63#2% ,%$%2/'!%/'" 2#4-#!9#;#!9#" 4'!" #$ ?2#;-'"%$"S;=2#8%2-'"H#89%4%/'"()@(G '9'2,%/'"='2"oEfD

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

8#" K-#!#" #$" $%!7%;-#!9'" /#" I23; SK#2JyN#2#G"3!"%=%2%9'"L3#"9#"=#2;-9# ;'K#29#"='2"9'/'8"$%/'8G"J"=%8%2"='2 43%$L3-#2"9#22#!'G"J"L3#"%$"-,3%$"L3#"$% e%!/4J4$#" #8" =$#,%:$#" J" =#2;-9# 4';=$#9%"%39'!';5%"%$"383%2-'D"Z!"/5% 4'!K#28%!/'"4'!"3!"4$-#!9#";#"/-O'U"93 %44-/#!9#"#89%:%"#842-9'G"!'"63#"%$,' 6'293-9'G"N%"=#2;-9-/'"/%2"'='293!-/%/#8 J"6#$-4-/%/"=%2%";34N%8"=#28'!%8D"\"#$ 8%:#2"L3#"#89%;'8"%='29%!/'G"/#8/#";/#6-4-#!4-%"658-4%"#8"%$,'"L3#"$$#!%"/# '2,3$$'" J" $'" L3#" ;#" ;'9-K%" %" 8#,3-2 N%4-F!/'$'_G"4'!4$3J#"[%-7D


!!"#4#&$#.:#"8."8'"3&.);"!!

>%-AB*!%4-"/*>%-,#A0,-%.

/%.,+"(*#")*&)&A>#"+(4150 $&(A&*#*+#:/+*5",0%#,*#4%0<*+/;(6#7#3"18/=(#,0'*(3*#*(#&("#&(/E*%+/,",6#*+3*#"1"(3*#,*-#,/8&R0 4&,0#>"'*%#,*#+&#>088/*#&(#3%"8"R0#4%0<*+/0("-6#-0.%"(,0#+*%#1"(*R",0#40%#&("#".*('/"#/(3*%("'/0("7#A&*#+&+#/-&+3%"'/0(*+#+*"(#4&8-/'","+#*(#%*E/+3"+#*+4*'/"-/H","+#,*#O+3",0+#S(/,0+#7#O&%04"?

#

';'"$%";%J'25%"/#"$'8 !-&'8G" %" E%2$'8 Y%$#!73#$%"$#",389%:% /-:3O%2D"?%8%:%"N'2%8"J N'2%8" -;-9%!/'" 838 4%2-4%932%8" 6%K'2-9%8G 4';'"e3$cG"[3=#2;%! '" [=-/#2;%!D" ?#2'" 42#4-." J" 8-,3-. /-:3O%!/'":-#!D"T'"8.$'"F$"8#"/-'"43#!9% /#" 83" 9%$#!9'G" 9%;:-F!" 83" 6%;-$-%" J %;-,'8G" J" #8" ='2" #8'" L3#" 4';#!7." % =#!8%2"8#2-%;#!9#"#!",%!%28#"$%"K-/% #!"%$,'"L3#"=%2%";34N'8"#8";M8":-#! 3!"N'::-#U"0%"-$3892%4-.!D X3#"3!%"/#4-8-.!"/-654-$G"=#2'"N'J N%" N#4N'" /-:3O'8" =%2%" ,2%!/#8

4';=%&5%8" 4';'" >%2K#$G" $',2%!/' ='29%/%8"/#"4.;-48"J"$-:2'8"/#"6%!9%85%8G ='89#28"=%2%"X%!9%8J"X$-,N9"`%;#8G"[j? ?3:$-8N-!,"J"1K%9%2"?2#88G"#!92#"'92%8G 8-#!/'"3!'"/#"$'8"='4'8"-$3892%/'2#8"/# EN-$#"#!"9#!#2"3!"2#4'!'4-;-#!9'"9%! -;='29%!9#"63#2%"/#$"=%58G"J"92%:%O%!/' /#8/#"2#,-.!D

$6#("'"%"6# Z!'" /#" $'8" N-9'8" #!" $%" K-/%" /# Y%$#!73#$%"63#"$%"$$#,%/%"/#"f!9#2!#9D ]>#"/-"43#!9%"L3#"N%:5%"3!",-,%!9#84' ;3!/'"/#"$%8"4%2-4%932%8"J"$%"-$3892%4-.!G L3#"N%:5%",#!9#"L3#"8#",%!%:%"$%"K-/% /-:3O%!/'G"J"J'"L3#25%"#89%2"%N5G"8':2#

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

2-


!!"#4#&$#.:#"8."8'"3&.);"!!

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

2$(#!$)6 S!"#6#49'G"8-,3-."%6%!%!/'"N%89%"L3# 6-!%$;#!9#"$$#,."#$"92%:%O'"L3#"$'"4%;:-. 9'/'U"]Z!"/5%G"/#8/#";-",389'"='2"$'8 r?-!" Z=s" J" /#" $%8" =#$543$%8" /#" 9#22'2 %!9-,3'G"8#";#"'4322-.";#74$%2"#89'8 /'8"#89-$'8"#"N-4#"3!"/-:3O'"/#"3!%";3O#2 /#" $'8" %&'8" *)s" 4'!" 92%O#" /#" :%&'G %9%4%/%"='2"3!"#V92%9#22#892#D"S8'",389. ;34N'G" 4';#!4F" %" 2#4-:-2" ;-$#8" /# K-8-9%8"#!";-"=M,-!%G"#;=#7."3!"#6#49' #!"4%/#!%"J"8#"63#"4'22-#!/'"$%"K'7"/# ;-8"92%:%O'8G"J"#8#"6##/:%4c"!#4#8%2-' =%2%"4'!'4#2"$%8"'=-!-'!#8"/#"=#28'!%8G

2*

;#" 63#" !392-#!/'" #!" $%" 42#%4-.!" J 4';='8-4-.!"/#";-8"/-:3O'8_G"2#43#2/%D I2%8"#89'G"J"4'!'4-/'"4';'"Y%$7"<#! N'!'2"%"83"%=#$$-/'<"$'"$$%;%2'!"=%2% =%29-4-=%2"#!"/-89-!9%8"2#K-89%8G"$-:2'8G"J #/-9'2-%$#8D"Z!"/5%"8%$-."8#$#44-'!%/' 4';'" #$" ]%29-89%" /#$" /5%_" #!" #$" 8-9-' H#K-%!91+IG"L3#"43#!9%"4'!";M8"/#"Q) ;-$$'!#8" /#" 383%2-'8G" J" $3#,'" 6-2;. 4'!92%9'"4'!"$%"%,#!4-%"`$%88"e'38# `2%=N-4G" #;=2#8%" 4%7%" 9%$#!9'8" /# %29-89%8"L3#"$'"3:-4.",2%4-%8"%"83"6%;% #!"f!9#2!#9G";'892%!/'"83"-!9#2F8"#! 2#=2#8#!9%2$'D ]S$$'8"92%:%O%:%!"4'!"4$-#!9#8";3J -;='29%!9#8G" #!92#" #$$'8" >%2K#$G" # -!/3892-%8",-,%!9#84%8"/#"$%"%!-;%4-.!G %"$'8"43%$#8"J'"!'"9#!5%"4.;'"%44#/#2D 185"L3#"%4#=9F"J";#"=#/5%!"#$"@*^"/# 9'/'8"$'8"/-:3O'8"L3#"8#"K#!/-#2%!D"E'! #$$'8"93K#"L3#"N%4#2"/#"9'/'8"$'8"#89-$'8U 83=#2" NF2'#8G" 2';M!9-4'8G" 6%!9%85%G 9#22'2G"$'"L3#";#"%J3/."%"#!4'!92%2";#89-$'"=2'=-'G"J"%"8%:#2"L3F"=#/5%!"$'8 #/-9'2#8" J" $'" L3#" ;M8" $#" ,389%:%" %$ =B:$-4'_G"8#&%$%D

+2%6'6%","2')6#(7(3+672%%"&' I2%8"#8#"4'!92%9'G"J"'92%8"$%:'2#8 L3#"$#"8-,3-#2'!G"#$"6239'"/#"83"=%8-.! ='2"#$"/-:3O'"$$#,.G"J"N'J"%/#;M8"/#"83 92%:%O'" 4';'" H-8#&%/'2" #!" I#;34'G /'!/#" N%" N#4N'" 4'29';#92%O#8G =2',2%;%8"/#"9#$#K-8-.!G"-$3892%4-'!#8 =%2%"#;=2#8%8G"#!92#"'92'8G"=3#/#"K-K-2 /#"838"/-:3O'8D"1/#;M8G"9%;:-F!"2#%$-7% 92%:%O'8" %" =#/-/'" /#" 4'$#44-'!-89%8

=2-K%/'8G";34N'8"/#"#$$'8"/#"S89%/'8 Z!-/'8G"9'/'",2%4-%8"%"$%8"='8-:-$-/%/#8 L3#"$#":2-!/%"$%"=$%9%6'2;%"/#"f!9#2!#9D [38"-$3892%4-'!#8"8'!"4'!'4-/%8"#! /-6#2#!9#8"4';3!-/%/#8"/#"/-:3O%!9#8 /#$";3!/'G"N%"8-/'"8#$#44-'!%/'"'92%8 92#8"K#4#8"4';'"#$"%29-89%"/#$"/5%"#! H#K-%!91+IG" J" N%" 92%:%O%/'" =%2%" $% # ; = 2# 8 % " : 2 - 9 M ! - 4 % " Z ! / # 2 " I N # X$''2:'%2/8G"#8=#4-%$-7%/%"#!"%6-4N#8 /#" 4-!#" J" 9#$#K-8-.!G" 4'!" #/-4-'!#8 $-;-9%/%8"=%2%"6%!M9-4'8"4'$#44-'!-89%8G #!"$%"43%$G"='2"#O#;=$'G"93K'"L3#"/-:3O%2 %" H%!%" [43$$JG" =#28'!%O#" /#" $%" 8#2-# SV=#/-#!9#8<tG"#!"3!%"#/-4-.!"L3#"8# %,'9."2M=-/%;#!9#D I%;:-F!"#89M"#$%:'2%!/'"3!"$-:2' /#"-$3892%4-'!#8"L3#"8#"K%"%"#/-9%2"#! S89%/'8"Z!-/'8"J"S32'=%G"L3#"8%$#"#! ()@QG"=3:$-4%/'"='2"$%"4'!'4-/%"#/-9'2-%$ [j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


!!"83<48.)(3(8.%;0"!!

C0#?*D4%@'('"#,/. B(+."(%'&0+&)+@>14# $-#3%",/'/0("-#%*+3"&%"(3*#,*#'"--*#P&'"4*-#*+A&/("#X"33"#*(#P*1&'06#--*."(#,*'*("+#,*#'01*(+"-*+ 8&+'"(,0#'01/,"#+"8%0+"#7#+"-&,"8-*#"#-"#>0%"#,*#"-1&*%H0?#F"H&*-"+6#.&/+0+#,*#E*%,&%"+#7 "+",0+#,*'0%"(#-"+#1*+"+#,*#&(#-0'"-#'&7"#,&*5"#>"#+"8/,0#/((0E"%#'0(#/(.%*,/*(3*+#3)4/'0+#,*'"1406#*(#&("#'0'/("#,*#"&30%6#,*#'"-/,",#7#*'0(;1/'"#A&*#+*#&8/'"#*(3%*#-"+#1*R0%*+#4/'","+ ,*#F>/-*? 21


'

!!"83<48.)(3(8.%;0"!!

3!-$/%"0#=-!"e#!25L3#7 #8" $%" #;=2#!/#/'2% /#92M8" /#" 3!%" /#" $%8 =-4%/%8";M8"6%;'8%8"/# I#;34'"J"$%"2#,-.!D"m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

"''61!%"&'(36+('2%2#"/!/ ]>#"K-!#"/#$"4%;='"%"$'8"@*"%&'8"J =%295"92%:%O%!/'"#!"4%8%8"=%29-43$%2#8 N%89%"L3#"$$#,3F"%$"E#!92'"/#"S/34%4-.! J" I#4!'$',5%G" ESIG" /'!/#" #893K# 92%:%O%!/'"4';'"4'4-!#2%"(*"%&'8G"N%89% L3#" L3#:2._G" 43#!9%" /'&%" m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

22

!"%,(#%/*#*0%*,/.)($,6%,(#%#1)16 &&*210%1%/*#*0%1&2$%-.*%,*1%+( <0$<($%/0191:$%*,%+(%$02.&&$=B S!"#6#49'G"92%8"L3#/%28#"8-!"92%:%O' 8#"%8'4-."%"'92%"=#28'!%"J"4';#!7."% K#!/#2"4';-/%"#!"3!%"K-#O%"4%!9-!%"L3# $#8" 8-2K-." /#" =3!9'" /#" /-892-:34-.!D E';#!7%2'!"%"'2/#!%2$%"J"$-;=-%2$%"4'! #$"':O#9-K'"/#"K#!/#2"=%!"J"c34N#!#8 =%2%"$$#K%2G"=#2'"='4'"%"='4'"$%",#!9# <L3#"J%"8%:5%"/#"83":3#!%"6%;%"4';' 4'4-!#2%<"$$#,%:%"%$"$3,%2"#!":B8L3#/% /#"3!"=$%9'"=2#=%2%/'"=%2%"4';#2"%N5 ;-8;'D H#" #89%" 6'2;%" !%4#" m3!J" I2%/-< 4-'!#8G"#!"3!"#;=2#!/-;-#!9'"L3#"#! ()@("N%"8-/'",%$%2/'!%/'"4';'"3!%"/# $%8";#O'2#8"=-4%/%8"/#$"=%58G"%$"':9#!#2 #$"@({"=3#89'"!%4-'!%$"J"#$"({"%"!-K#$ 2#,-'!%$"#!"#$"4'!4328'"0%">#O'2"?-4%/% /#"EN-$#G"/#$"E'!8#O'"T%4-'!%$"/#"$% E3$932%"J"$%8"129#8D"]1";5"!'";#"/%:%! !-"3!";#8G"=#2'"J%"$$#K'"8#-8"%&'8D"\"!' =3#/'"L3#O%2;#G"='2L3#"8-":-#!"#89'"!' /%";34N'G";#"%$4%!7%"=%2%"K-K-2"J"#8 ;#O'2"L3#"#89%2"4#8%!9#_G"/-4#DDDDDDDDDDD

!,6+(36+($!()"2++! e'J"m3!-$/%"0#=-!"#8"$%"B!-4%"/3#&% /#$"2#89%32%!9#"J",#!#2%"#;=$#'"%"/'8 =#28'!%8"/#"83"6%;-$-%G"3!%"%J3/%!9# #!" $%" 4'4-!%" J" 3!%" ;#8#2%G" L3-#!#8 #!92#,%!"9'/%"$%"4%$-/#7"J"#$"%;:-#!9# N',%2#&'"%"92%KF8"/#"=$%9'8"'2-,-!%$#8"J 8%$3/%:$#8" L3#" #$$%" /#6-!#" 4';' 4%;=#8-!'8D" ]\'" 92%9'" /#" N%4#2" $% 4';-/%" 4%;=#8-!%G" !'" 4';-/% ;%=34N#G"4';'"$#"$$%;%!G"='2L3#"#$

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j3F";M8"=3#/'"=#/-2G"#89'J"4'!6'2;#_G 4'!4$3J#" 3!%" #;=2#!/#/'2%" L3# %493%$;#!9#"9%;:-F!"4%=%4-9%"%"'92%8 ;3O#2#8"8':2#"4';-/%"8%$3/%:$#DDDDDDD


!!"(.($(#%(/#0"!!

D,&0("*E#'2,4!'0@%@*3%4$'('3)*,#

C&"1()/0+&"0(41#0(%*86F8*9:;9 F0(0'/,"#40%#+*%#-"#4%/('/4"<*%/"#,*#10E/-/,",#*+3&,/"(3/,*#O&%04"6#-"#C*%/"#O$WO#IJMI %*"-/H","# *(# +*43/*18%*# ,* IJMI6# *(# :&8-)(6# W%-"(,"6# +* '0(E/%3/;#*(#&(0#,*#-0+#>/30+ ,*# P*1&'0# S(/E*%F/&,", ,&%"(3*#*+3*#"506#7"#A&*#40% 4%/1*%"#E*H6#%*4%*+*(3"(3*+#,* -"#%*./;(#E/"R"%0(#*(#1/+/;(#,* 4%0+4*''/;(# "# *+3*# *E*(30 1&(,/"-?

(

'8" %4%/F;-4'8" ?%3$% Y-2,-$-'G" H-2#49'2%" /# 183!9'8"S893/-%!9-$#8"/# $%" Z!-K#28-/%/" [%!9' I';M8"/#"I#;34'G"J"H%K-/ X-,3#2'%G" H-2#49'2" /# SV9#!8-.!"J"+#$%4-'!#8"f!9#2!%4-'!%$#8 /#"$%"Z!-K#28-/%/"E%9.$-4%"/#"I#;34'G 63#2'!"$'8"2#=2#8#!9%!9#8"L3#"K-%O%2'! %"$%"X#2-%"S1fS"()@("#!"H3:$5!G"f2$%!/% %"':O#9'"/#"92%#2"':8#2K%4-'!#8"=2#4-8%8 %4#24%"/#"$%";'K-$-/%/"#"-!9#24%;:-' #893/-%!9-$D 1;:'8"=3/-#2'!"':8#2K%2"#!"9#22#!' 4.;'" 63!4-'!%" #$" ;#24%/'G" $%8 '='293!-/%/#8"'"K#!9%O%8"4';=%2%9-K%8 L3#"=3#/#"9#!#2"I#;34'"J"$%"/#;%!/% /#" 8#2K-4-'8" #/34%4-'!%$#8" L3#" N%J %493%$;#!9#"#!"#$";3!/'G"4'!'4-#!/' %" 4#24%" /#" l" ;-$" -!89-934-'!#8" /# #/34%4-.!"83=#2-'2"L3#"%8-89-#2'!"%"$% 6#2-%G"=2'K#!-#!9#8"/#"P)"=%58#8G"%"92%KF8 /#";M8"/#"(*)"89%!/D ]S$"=2-!4-=%$"':O#9-K'"/#"#89#"K-%O# 63#" 4'!'4#2" $'8" ;#4%!-8;'8" /# =2';'4-.!" L3#" '92'8" =%58#8" #89M! $$#K%!/'" #!" 43%!9'" %" ;'K-$-/%/ #893/-%!9-$G"J"/#!92'"/#"$'8"2#83$9%/'8 ;M8"2#$#K%!9#8"4'!4$3-;'8"L3#"I#;34'G J"$%"+#,-.!"/#"0%"12%34%!5%G"9-#!#!"3!

='9#!4-%$"#!'2;#"=%2%"$'8"#893/-%!9#8 #V92%!O#2'8G" L3#" 4'!$$#K%" /'8" 4'8%8 -;='29%!9#8U"Z!%G"#$"=2'=.8-9'"%4%/F< ;-4'" L3#" =3#/#!" '62#4#2" !3#892%8 /-6#2#!9#8"3!-K#28-/%/#8"JG"='2"'92'"$%/'G 3!%"8#2-#"/#"%8=#49'8"L3#"#8"4%=%7"/# :2-!/%2"I#;34'"J"$%"2#,-.!G"L3#"9-#!#! L3#" K#2" 4'!" #$" =%92-;'!-'" !%932%$" J 43$932%$_G"8'89-#!#"H%K-/"X-,3#2'%DDDDDDD ]T3#892%"4';3!-/%/"#8"=2-!4-=%$< ;#!9#";%=34N#"J"F89%"#8"3!%"43$932% L3#" %$" #V92%!O#2'" $#" %92%#" ;34N'D [3;%/'" #89'" %$" %92%49-K'" %4%/F;-4' L3#"9#!#;'8"4'!"$%8"8#-8"3!-K#28-/%/#8 /#"$%"%$-%!7%"4-3/%/G"='/#;'8"4';=$#< ;#!9%2"%;:'8"%8=#49'8"J"'62#4#2"%"$%8 =#28'!%8" L3#" K-#!#!" %" N%4#2" 3!% =%8%!95%G" ='2" 92#8" '" 8#-8" ;#8#8G 4'!'4-;-#!9'"J"9%;:-F!"239%8"932589-4%8G ;%=34N#8G" #!" 6-!D" S8#" #8" 3!" =3!9' !3#892'"%"6%K'2_G"4'-!4-/#"?%3$%"Y-2,-$-'D S!"#6#49'G"#!"$%"6#2-%"8#"':8#2K.",2%! 4%!9-/%/"/#"%$9#2!%9-K%8"/#"4328'8"/# 4'29%"/32%4-.!G"4';'"4328'8"/#"K#2%!' '" /#" -/-';%D" ?'2" #8'G" =%2%" e3,' T%K%22#9#G" ?2'/349" >%!%,#2" /#" ?2' EN-$#G"#!9-/%/"L3#"6-!%!4-."=%29#"/#$ K-%O#" ,2%4-%8" %" $%" %/O3/-4%4-.!" /#$ E'!4328'" f!/3892-%8G" [#2K-4-'8" J I32-8;'G"/#8=3F8"/#"#89%"#V=#2-#!4-%

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c#9-!,<"J 6';#!9%2"$'8"$%7'8"4'!"$%8"-!89-934-'!#8 =B:$-4%8"J"=2-K%/%8"/#"0%"12%34%!5% L3#"8#"2#$%4-'!#!"%"#89#"9-='"/#"':O#9-K'G J%"L3#"9#!#;'8"3!"92#;#!/'"='9#!4-%$_G 4'!4$3J#D

25


!!"3;38.%;0"!!

=0&%(B*G"&,#$"*!-%2, 0%"/F4-;%"K#28-.!"/#$"S!43#!92'"S;=2#8%2-%$"/#"0%"12%34%!5%G"S!#$%"]>';#!9'"E$%K#_"8#"2#%$-7."#$"(P"/#"O3!-'"/#"()@(D S$"#K#!9'G"L3#"4'!K'4."%"'!4#"2#$%9'2#8"J";M8"/#";-$"%8-89#!9#8"#!"#$"E#!92'"/#"E'!K#!4-'!#8"/#$"e'9#$"H2#%;8"/#"I#;34'G #893K'";%24%/'"='2"9#;%8"4';'"$%",$':%$-7%4-.!G"/#84#!92%$-7%4-.!"J"$'8";'K-;-#!9'8"4-3/%/%!'8G":%O'"$%".=9-4%"/#"2#4'!'4-/'8 %!%$-89%8"J"%39'2-/%/#8D

SV='8-9'2#8G"%39'2-/%/#8G"%38=-4-%/'2#8"J"'2,%!-7%/'2#8"/#"S!#$%G">';#!9'"E$%K#D

h'8F">-,3#$">%29%:-/D

?B:$-4'"/#"S!#$%G">';#!9'"E$%K#D

29

1!/2F8">'$-!%G">%29%"0%,'8G">%24'"[%$%7%2G e%!8"S:#!"J"1$#V"[92'/9N'66D

>%29%"0%,'8D


!!"3;38.%;0"!!

e%!8"S:#!D

`%89.!"E%;-!'!/'G">.!-4%"`#:#29G">%24#$'"[-#,;3!/"J h'8F">-,3#$">%29%:-/D

h'2,#"0%,'8G">%24#$%"`%245%G">%2-'"`%245% J"h'8F">-,3#$">%29%:-/D

H%K-/"`%$$%,N#2G"?%92-4-'"T%K-%G"h3%!"h%-;#"H5%7G"184%!-'"E%K%$$'"J >-,3#$"o#4c#2D

12!'$/'"z%!43$#6G"1!-9%"S=3$#6G"12932'"o#$;%2 J"1!,F$-4%"I#==#2D

184%!-'"E%K%$$'D

26


!!"3;38.%;0"!!

H%K-/"`%$$%,N#2D

?2-;'"E'29#8-G"u'$6"K'!"1==#!G"X#/#2-4'"u-$$'3,N:JG"X#$-=#"?%843%$"J 0'2#!7'"E'!89%!8D

u'$6"K'!"1==#!D

h'8F">-,3#$">%29%:-/G"e%2'$/">%J!#<T-4N'$$8G"?%:$' 0'!,3#-2%"J"h'8F">-,3#$"`%245%D

e%2'$/">%J!#<T-4N'$$8"J"?%:$'"0'!,3#-2%D

57

0'2#!7'"E'!89%!8D

?%:$'"0'!,3#-2%D

E%2$'8"f8%%48G"`3-$$#2;'"`%O%2/'G"h'%L35!"I3;% J"H-#,'"o#!%K#!9#D


!!"3;38.%;0"!!

?%92-4-'"T%K-%G"e%!8"S:#!"J"H%K-/"`%$$%,N#2D

h'8F">-,3#$"`%245%G"e%2'$/">%J!#<T-4N'$$8G"?%:$'"0'!,3#-2% J"h'8F">-,3#$">%29%:-/D

0'2#!7'"E'!89%!8G"u'$6"K'!"1==#!G"X#$-=#"?%843%$G X#/#2-4'"u-$$'3,N:J"J"?2-;'"E'29#8-D

h3%!"h%-;#"H5%7G"H%K-/"`%$$%,N#2G"?%92-4-'"T%K-%G >-,3#$"o#4c#2"J"184%!-'"E%K%$$'D

1!/2F8">'$-!%G"e%!8"S:#!G">%29%"0%,'8G">%24'"[%$%7%2 J"1$#V"[92'/9N'66D

X2%!4-84'"1$%!-8G"u'$6"K'!"1==#!G"S;-$-'"I%$%/2-7"J 12!'$/'"z%!43$#6D

5+


!!"3(0$8'=.8;0"!!

K5/.:/%72%2S=2.13%B./86:2T3 20%I(F S!" %,'89'G" 3!" /-K#28'" ,23='" /# #;=2#8%2-'8G",#2#!9#8G"J"#O#439-K'8"/# ;#/-'8"/#"4';3!-4%4-.!G"%8-89-#2'!"% 3!%" 4N%2$%<%$;3#27'" '2,%!-7%/%" ='2 E'2=%2%34%!5%" J" o%!4'" [%!9%!/#2G ,2%4-%8"%"$%"4'$%:'2%4-.!"/#"144-.!"+[SG #!" $%" L3#" h#2.!-;'" +%6%#$" +%;'8G ?2#8-/#!9#"/#">-42'42F/-9'"/#$"o%!4' [%!9%!/#2" /#" o2%8-$G" #V=38'" 8':2#" $% -;='29%!4-%"/#"$%"2#8='!8%:-$-/%/"8'4-%$ #;=2#8%2-%$D"S89'G"%"2%57"/#"83"#V=#2-#!4-% /#" 92%:%O'" 4'$%:'2%9-K'" #!" $%8" 6%K#$%8G /'!/#" ='2" ;#/-'" /#" =2'J#49'8 4';3!-9%2-'8" 8#" $',2%" 4'!92-:3-2" %" $% 8'$34-.!"-!9#,2%$"/#"$%"#V4$38-.!"8'4-%$D

NDF%730/%U16:28%/ G./-4/0VG=.2072 E'!"#$"':O#9-K'"/#"4'!92-:3-2"4'!"$% #/34%4-.!"/#"$'8"!-&'8"J"!-&%8"/#"0% 12%34%!5%G" #$" f!89-939'" T%4-'!%$" /# S89%/589-4%8" N-7'" #!92#,%" /#" 3!% -;='29%!9#"/'!%4-.!"/#"B9-$#8"#84'$%2#8 %"$%"X3!/%4-.!"12%34%!51=2#!/#G"='2 83"/#8#;=#&'"#!"$%"-;=$#;#!9%4-.!"J /#8%22'$$'"/#"=2',2%;%8"#/34%9-K'8"=%2% $%8" #843#$%8" ;M8" K3$!#2%:$#8" /#" $% 2#,-.!D"0%"4'$%:'2%4-.!"4'22#8='!/#"% @)";-$"c-9"4'!"$M=-4#8G",';%8"/#":'22%2 J"8%4%=3!9%8G"L3#"63#2'!"2#4'=-$%/'8 92%8"6-!%$-7%2"#$"=2'4#8'"/#"$#K%!9%;-#!9' 4#!8%$"()@(D

NNN%F04-201.3%72%K3.=3./463028%I2@630/:28%72%,28/..3::3

S$"@("J"@Q"/#"#!#2'"/#"()@("8#"#6#493."#!"I#;34'"#$"fff"S!43#!92'"/#"E'2='2%4-'!#8"+#,-'!%$#8"/#"H#8%22'$$'G"4'! =2#8#!4-%"/#"L3-!4#"4'2='2%4-'!#8"/#"fL3-L3#"%">%,%$$%!#8D"S!92#"'92'8"2#83$9%/'8G"$%"%49-K-/%/"8#!9."$%8":%8#8"=%2%"6'2;%2 3!%"+#/"T%4-'!%$"/#"E'2='2%4-'!#8"+#,-'!%$#8"J"6'29%$#4#2"%85"$%"-!9#2%44-.!"J"#$"-!9#24%;:-'"/#":3#!%8"=2M49-4%8"#!92#"$'8 '2,%!-8;'8D"03#,'G"#$"(k"J"(i"/#"O3$-'"#!"E%$%;%G"E'2=%2%34%!5%G"2#=2#8#!9%/%"='2"83"H-2#49'2"SO#439-K'G"H-#,'"o#!%K#!9#G %8-89-."%"$%"43%29%"K#28-.!"/#"$'8"#!43#!92'8"'2,%!-7%/%"='2"EH?"1!9'6%,%89%"J"?2'0'%D

5,


!!"3;38.%;0"!!

5%#A%&',#$"*@,

8#">'(%%&4#

S!"#$";#8"/#"%,'89'"/#"()@("8#"$$#K."%"4%:'"#$"$%!7%;-#!9' /#"$%"E'2='2%4-.!"=%2%"#$"H#8%22'$$'"?2'/349-K'"/#">%$$#4'G E'2=;%$$#4'G"L3#"%"92%KF8"/#"3!"8#;-!%2-'"$',2."4'!K'4%2 %";M8"/#"4-#!"=#28'!%8G"#!92#"#;=2#8%2-'8G"%4%/F;-4'8"J %39'2-/%/#8"2#,-'!%$#8G"L3-#!#8"#8434N%2'!"%9#!9%;#!9#"$%8 =2#8#!9%4-'!#8"/#$"12L3-9#49'">%9N5%8"w$'97G"/#$"`#2#!9#"/# E-/#2#" o5'" o5'G" >%24'8" H#$344N-G" J" /#$" #V" >-!-892'" /# 1,2-43$932%G" h'8F" 1!9'!-'" `%$-$#%DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

139'2-/%/#8G"-!K-9%/'8"J"%8-89#!9#8D

H-#,'"o#!%K#!9#D

h'8F">-,3#$">%29%:-/G"1!/2F8">'$-!%G"E%2;#!"`$'2-%"12%K#!%"J S2-4N"o%3;%!!D

h'8F">-,3#$">%29%:-/D

5-


!!"3;38.%;0"!!

1!/2F8">'$-!%D

>%24'8"H#$344N-D

h'8F"1!9'!-'"`%$-$#%G"?%92-4-'"f9322-#9%G">%9N5%8"w$'97"J">%24'8"H#$344N-D

h'8F"1!9'!-'"`%$-$#%D

5*

>%9N5%8"w$'97D


!!"3(0$8'=.8;0"!!

W/:/.73028 H32%!9#"()@(G"#$"?2#8-/#!9#"/#"$% X3!/%4-.!" 12%34%!51=2#!/#" J" 8'4-' N'!'2%2-'" /#" E'2=%2%34%!5%G" h'8F >-,3#$"`%245%G"63#",%$%2/'!%/'"4'!"/'8 -;='29%!9#8"/-89-!4-'!#8D"0%"EM;%2% EN-$#!%" /#" $%" E'!892344-.!" $#" N-7' #!92#,%"/#"83"=2#;-'"/#"+#8='!8%:-$-/%/ ['4-%$" S;=2#8%2-%$G" ='2" /%2" %" 838 92%:%O%/'2#8",2%!/#8":#!#6-4-'8"%"92%KF8 /#"$'8"=2'J#49'8"8'4-%$#8"-;=3$8%/'8"='2 $%"%8'4-%4-.!",2#;-%$W"J"#$"?2#;-'"f4%2#G L3#"/-89-!,3#"%"L3-#!#8"8#"/#89%4%!"='2 83" 4'!92-:34-.!" %$" /#8%22'$$'" /#" $% %49-K-/%/" #;=2#8%2-%$G" %" 92%KF8" /#$ #895;3$'" J" =#26#44-'!%;-#!9'" /#" $% %/;-!-892%4-.!"/#"#;=2#8%8"A#!"$%"6'9'CD

,V/%72%:/8%I2@63028 ?'2" 43%29%" K#7" 4'!8#439-K%" 8# 4'!;#;'2."#$"H5%"/#"$%8"+#,-'!#8G"#$ Q@"/#";%27'"#!"$%"?$%7%"/#"12;%8"/# I#;34'D"0%"%49-K-/%/G"L3#"9-#!#"4';' ' : O # 9 - K ' " # V - , - 2 " 3 ! % " K # 2/ % / # 2 % /#84#!92%$-7%4-.!"='$59-4%G"#4'!.;-4%G %/;-!-892%9-K%"J"43$932%$"%"$'"$%2,'"/# 9'/'"#$"9#22-9'2-'"!%4-'!%$G"63#";%24%/% ='2"$%"4'!8-,!%"]#$#44-.!"/-2#49%"/#"$'8 E'2#8"#!"'493:2#_"J"='2"$'8"/-84328'8 /#"S/'%2/'"I'89-<E2'4#G"?2#8-/#!9#"/#$ >'K-;-#!9'"/#"144-.!"+#,-'!%$G"J"/# h'8F">-,3#$">%29%:-/G"?2#8-/#!9#"/# E'2=%2%34%!5%G" L3-#!#8" N-4-#2'!" 3! $$%;%/'" %" $%8" %39'2-/%/#8G" J" %" $% 4';3!-/%/G"%"9';%2"#$"2#%$"=#8'"/#$ 4#!92%$-8;'D

K"K%A6861>%:/%I2@6>0 S$" E';-9F" SO#439-K'" /#" $% E'!6#/#2%4-.!"/#"$%"?2'/344-.!"J"#$ E';#24-'" $-/#2%/'" ='2" 0 '2#!7' E'!89%!8G"$$#,."N%89%"I#;34'"-!K-9%/' ='2"$%">3$9-,2#;-%$"J"E'2=%2%34%!5%G #!"#!#2'"/#"()@(G"4'!"#$"6-!"/#":384%2 %$9#2!%9-K%8"=%2%"='9#!4-%2"$%"%49-K-/%/ 2#,-'!%$" J" 92%:%O%2" #!" ='8" /#" $% #89%:-$-/%/" 8'4-%$" J" #4'!.;-4%G ;'892%!/'"83"=2#'43=%4-.!"='2"=2-'2-7%2 %"!-K#$"=%58G"$%8"!#4#8-/%/#8"/#"$%"2#,-.!D

51


!!"3;38.%;0"!!

!"&'1(4150*H0,I"/*<,3"4$'2"/ D,&0("*E#'2,4!'0@%@*9:;9 S!"3!"%;:-#!9#"/#"6#89-K-/%/"J"4%;%2%/#25%G";M8"/#"/'84-#!9'8"#893/-%!9#8G"%39'2-/%/#8G"J"=2'6#8-'!%$#8"/#$"M;:-9' /#='29-K'"=%29-4-=%!9#8"#!"$'8"h3#,'8"H#='29-K'8"I#;34'"Z!-K#2E-3/%/"()@(G"]Z!"#L3-='G"3!%"4-3/%/_G"8#"/-#2'!"4-9%"#!"#$ [%$.!"Yf?"/#$"S89%/-'"`#2;M!"o#4c#2G"=%2%"N';#!%O#%2"%"$'8",%!%/'2#8"/#$"4%;=#'!%9'"'2,%!-7%/'"='2"I#;34'"Z!-K#2E-3/%/ H#='29#G"$%">3!-4-=%$-/%/"/#"I#;34'"J"E'2=%2%34%!5%G"4'!"$%"4'$%:'2%4-.!"/#"$%"X3!/%4-.!"`%!%;'8"I'/'8DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

I#!-8"/#">#8%"H%;%8U"w%2#!">'$-!%G"Z!-K#28-/%/"/#"0%"X2'!9#2% A=2-;#2"$3,%2CW"?%'$%"Y%$$#G"Z!-K#28-/%/"[%!9'"I';M8"A8#,3!/' $3,%2CW"Y%$#2-%"e#!25L3#7G"Z!-K#28-/%/"/#"0%"X2'!9#2%"A9#24#2"$3,%2CD

I#!-8"/#">#8%"Y%2'!#8U"X2%!4'"EN%K%225%G"Z!-K#28-/%/"[%!9'"I';M8 A=2-;#2"$3,%2CW"H%$9'!"+'7%8G"Z!-K#28-/%/">%J'2"A8#,3!/'"$3,%2CW `%:2-#$"[M!4N#7G"Z!-K#28-/%/"[%!9'"I';M8"A9#24#2"$3,%2CD

I#!-8"/#"E%;='"H%;%8U"[-$K%!%"I'89-<E2'4#G"Z!-K#28-/%/"139.!';% /#"EN-$#"A=2-;#2"$3,%2CW"Y-K-%!%"[%-/G"Z!-K#28-/%/"/#"0%"X2'!9#2% A8#,3!/'"$3,%2CW"E%;-$%"E.2/':%G"Z!-K#28-/%/"139.!';%"/#"EN-$# A9#24#2"$3,%2CD

I#!-8"/#"E%;='"Y%2'!#8U">%95%8"o%22#2%G"Z!-K#28-/%/"139.!';% /#"EN-$#"A=2-;#2"$3,%2CW"h#8B8"`37;M!G"Z!-K#28-/%/"139.!';%"/# EN-$#"A8#,3!/'"$3,%2CW"h'%L35!"o389'8G"Z!-K#28-/%/"139.!';%"/# EN-$#"A9#24#2"$3,%2CD

o#%4N"Y'$$#J"H%;%8U">%4%2#!%"['$#2K-4#!8"<"0'2#9'"[3%7'G Z!-K#28-/%/">%J'2"A=2-;#2"$3,%2CW"[9#6%!-%"[N'29"<"?5%"E%!%2-'G Z!-K#28-/%/"/#"0%"X2'!9#2%"A8#,3!/'"$3,%2CW">'2-!!#"E'!4N%"< Y%$#!9-!%"g2#$$%!%G"Z!-K#28-/%/"[%!9'"I';M8"A9#24#2"$3,%2CD

o#%4N"Y'$$#J"Y%2'!#8U"E2-89-%!"`37;M!"<">%95%8"`37;M!G Z!-K#28-/%/"/#"0%"X2'!9#2%"A=2-;#2"$3,%2CW"X2%!4-84'"H#$,%/'"< 03-8"h%2%;-$$'G"Z!-K#28-/%/"139.!';%"/#"EN-$#"A8#,3!/'"$3,%2CD

52


!!"3;38.%;0"!!

o#%4N"Y'$$#J">-V9'U"X#$-=#"+'4N%"<"Y%$#!9-!%"g2#$$%!%G"Z!-K#28-/%/ [%!9'"I';M8"A=2-;#2"$3,%2CW"E2-89-%!"`39-F22#7"<"q!,#$%"E%22%84'G Z!-K#28-/%/"E%9.$-4%"/#"I#;34'"A8#,3!/'"$3,%2CW">%95%8"`37;M! <"[9#6%!-%"[N'29G"Z!-K#28-/%/"/#"0%"X2'!9#2%"A9#24#2"$3,%2CD

XB9:'$"[#-8"H%;%8U"SL3-='"Z!-K#28-/%/"E%9.$-4%"/#"I#;34' A=2-;#2"$3,%2CD

XB9:'$"[#-8"H%;%8U"SL3-='"Z!-K#28-/%/"[%!9'"I';M8 A8#,3!/'"$3,%2CD

XB9:'$"[#-8"H%;%8U"SL3-='"Z!-K#28-/%/"139.!';%"/#"EN-$#G A9#24#2"$3,%2CD

eM!/:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/">%J'2"A=2-;#2"$3,%2CD

eM!/:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/"/#"0%"X2'!9#2% A8#,3!/'"$3,%2CD

55


!!"3;38.%;0"!!

eM!/:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/"E%9.$-4%"/#"I#;34' A9#24#2"$3,%2CD

eM!/:'$"H%;%8U"SL3-='"Z!-K#28-/%/"E%9.$-4%"/#"I#;34' A8#,3!/'"$3,%2CD

oM8L3#9:'$"H%;%8U"SL3-='"Z!-K#28-/%/"/#"0%"X2'!9#2% A8#,3!/'"$3,%2CD

XB9:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/">%J'2 A8#,3!/'"$3,%2CD

59

eM!/:'$"H%;%8U"SL3-='"Z!-K#28-/%/"/#"0%"X2'!9#2% A=2-;#2"$3,%2CD

oM8L3#9:'$"H%;%8U"SL3-='"Z!-K#28-/%/"139.!';%"/#"EN-$# A=2-;#2"$3,%2C

XB9:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/"E%9.$-4%"/#"I#;34' A=2-;#2"$3,%2CD

XB9:'$"Y%2'!#8U"SL3-='"Z!-K#28-/%/"/#"0%"X2'!9#2% A9#24#2"$3,%2CD T'9%U"T'"8#"-!4$3J#"6'9',2%65%"/#$"9#24#2"$3,%2"#!"oM8L3#9:'$"H%;%8 ':9#!-/'"='2"#$"#L3-='"/#"$%"Z!-K#28-/%/"E%9.$-4%"/#"I#;34'D


Profile for corparaucaniachile

201212281800410 revistaestiloaraucania 2012  

201212281800410 revistaestiloaraucania 2012  

Advertisement

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded