.>PLF:D>KL x >LVLM =VLHTLPO ?JQHRTNJOT ru CUOJ :88

6
=4:7658>@;?<9A DPNNMTTKJ TP H FHLK HOJ ELLMIMKOT CMR GRHOSQPRT FUSTKN *+ ru CUOJ :88<5 8F x :A >LVLM =VLHTLPO ?JQHRTNJOT APOK DPOK x : A c b BFFG@ EP7 igjh ;9 yY >POTJOT [Y^ n =C7N _]‘ k -* zus / _ | 5 j ?=. g L l :^L t HX w ]. yq~ ^ 0. y~u .. ]1 yq / y * ~_* ~vu - u~su V a 3 xyry / y * ~ xu|t y~ d* ~w f* ~w ‘Ya E16@/I ‘u + q -/ }u~ / ]s / y 1 y / yu . bYc Aa e VT ~ R[\,3-K2 v W4 D* iu 2 mus 0- y /4 huq .0- u . v *- ms - uu~y~w gy ,0 yt . W]u -*.* | . q~t cu| . [ZY[[ . hmfd]bZ ‘8=<+H ]y - r 0. ]Z\X nu ./ b|ywx /. /* d* ~w f* ~w e~ / u - ~q / y * ~q| ]y -+*-/ [[ 9H=Q } L z BZUYOS df]n_] _0+ YXX[ [\ r{ @ s _]‘ iu 2. }q{u -. edf n =C7N _]‘ k -* zus / n =C7N _]‘ k -* zus / x:AA3Z>t ;R -K .HKF:G ,H fy BK><MHKg| >G>K:E H? x BOBE v OB:MBHG ~H2R5Bz|hUZXQJ]iu+oKAfDb>|VT26~hHtZ 2]:]|fJ3gA-UBvk+RA02B~|i*f+2?g.H5+| fJAf3Gvibk*^DHm[|OZ]i|YCb~_f6hl=|/H Vmb>AL]iuwpMHLwpMIgLxJq-KAALwpMs?EV kKi*f+2?vjBJL=i*f+2?k/B|JL]iub_;jzw v2cvQOu}wC K-GQ UNNR2o5ZQ4]yp\PoZvAeq?r.H<?:CK|I<|> I.8A0qYRZoKt_o:Jrm]iukK*2vj|ITC6>I< ~?^HBT0-|33ACPQZovLAf3.QXbAh]bs*OC8 nABC|\ZDI<H:C{RIAUZSDi>4fANQf}yAYRd E+hC=6>lA|rH?V.n?emH<??IAg+hT_]iuCx :5vNM/5ehQe|/5ehUe|~DC7@OCV0|.PAf?~ ]2sltC?9ALwpMIA[mWTQ5=+]C rWLL5:u2co5UZU41ci*f+2?b_C]iuu59?2x:L5qkL]i uwpM|8=[@A-x>Ud_L=]iub_|}wC 3A> {BG:G<B:E 2><K>M:KRf -K }>GKR 3:G@f OBLBM>= MA> v3x7 HG -:R llh 3A> yBK><MHKg|>G>K:E H? xBOBE vOB:MBHGf -K .HKF:G ,Hf MHHD MA> HIIHKMNGBMR MH ;KB>? -K 3:G@ MA> E:M>LM =>O>EHIF>GM H? MA> xvy 0KHC><M :G= LAHP ABF MA> IKHIHL>= LBM> ?HK MA> xvy ;NBE=BG@h +, r{ @ s xvy .>PLF:D>KL ;JP ki F x HG@K:MNE:MBHGL MH MA> G>PER IKHFHM>= Qze _M4Q x8646:-, :6 l~:- 4,Wp_ Uei*f+2?:k aa^a^a__f u8 k0~5 s15]+0;5/ i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f Mtgca Uei*f+2?:k aa^a^a__f u9 t~1 y~;]315/\m<~ i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f 4p7p_ Uei*f+2?:k aa^a^a__f u8 k0~5 x;1]21: i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f T^Bp_ Uei*f+2?:k aa^a^a__f u8 t-;5/ {15/]065/\p-58? i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f 4c|p_ \ei*f+2?:k ‘a^‘_^a__e u8 k0~5 k0-].~1\r6055? i18 z8~..1+ k65:863 w..1+-8 qqq ‘a^‘_^a__e C9lca \ei*f+2?:k ac^‘_^a__e u199 k0-;5/ p61]?~5\q819 i18 z8~..1+ k65:863 w..1+-8 qqq ac^‘_^a__e 3/lca \ei*f+2?:k ‘g^‘a^a__e u9 n65/ y;4]?~5\r6?+- i18 z8~..1+ k65:863 w..1+-8 qqq ‘g^‘a^a__e Tb.ca \ei*f+2?:k b‘^‘^a__f u199 v/ s1:]?1;\j-315,~ i18 z8~..1+ k65:863 w..1+-8 qqq b‘^‘^a__f -{sca \ei*f+2?:k f^b^a__f u9 {65/ v/~8]4~5\ y~8~0 i18 z8~..1+ k65:863 w..1+-8 qqq f^b^a__f 4d,p_ \ei*f+2?:k ‘a^b^a__f u8 k0~5 k01]215 i18 z8~..1+ k65:863 w..1+-8 qqq ‘a^b^a__f ho3p_ ]i..:k g^‘^a__f u8 {~1 y1;].~5\n8~52 w7-8~:1659 w..1+-8 g^‘^a__f n>fp_ ]i..:k g^‘^a__f u8 z9- n~1]415/\ x~:81+2 w7-8~:1659 w..1+-8 g^‘^a__f 4gca 2R:k a_^c^a__f u199 k0~5 t15/ k3-81+~3 w..1+-8 a_^c^a__f _0K r{ 6>E<HF> MH MA> G>P<HF>KL 4D<p_ yoi*f+2?:k u8 k0~5 s;5/]=~1 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 r^Bp_ yoi*f+2?:k u8 k065/ {15/]065/ y:;,-5: i18 z8~..1+ k65:863 w..1+-8 FU}eI yoi*f+2?:k u199 p6 k015/]4~5\i51:~ y:;,-5: i18 z8~..1+ k65:863 w..1+-8 e.KeI yoi*f+2?:k u199 s=65/ z9@]?~5 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 k@>p_ yoi*f+2?:k u8 t~4 p1;].~1 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 k\feI yoi*f+2?:k u199 t~4 y@-]415/\m31@~*-:0 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 T^yp_ yoi*f+2?:k u8 t-;5/ {15/]+01;\m812 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 UCqeI yoi*f+2?:k u199 t;1 t1]90~\ m5-319~ y:;,-5: i18 z8~..1+ k65:863 w..1+-8 d+7p_ yoi*f+2?:k u8 x665 {~1]065 y:;,-5: i18 z8~..1+ k65:863 w..1+-8 3P-eI yoi*f+2?:k u199 y01; |--].;5/ y:;,-5: i18 z8~..1+ k65:863 w..1+-8 4[pp_ QeAW:k u8 k0~5 n~:]2=~1\k63315 m>-+;:1<- w..1+-8 q qyur M { :K>P>EE MH MAHL> E>:OBG@ AC[ca Qe{N5\< u199 k0~2 t~1]?15\q8-5- y;7731-9 y;7-8<1968 q +sVca 2RPa u199 z~5/ t--]4;1\ k~5,? k3-81+~3 i9919:~5: <WZca Uei*f+..< u199 |; {~1]?--\o3~,?9 i18 z8~..1+ n31/0: y-8<1+-9 w..1+-8 qq jC-ca 2R:k u9 t;1 t~1].;5\u-3199~ k3-81+~3 w..1+-8 -Hep_ yoi*f+2?:k u8 {65/ |1;]+065/\m81+ y:;,-5: i18 z8~..1+ k65:863 w..1+-8 lJlca \ei*f+2?:k u9 t1 n;5/]?;\m33~5 i18 z8~..1+ k65:863 w..1+-8 qqq CDuca QeAW:k u9 k0-;5/ x6]?15/\k6881- m>-+;:1<- w..1+-8 q ]> po 6G x w >LM PBLA>L MH MA> K>MBK>> HcDp_ Qei*+o< u8 z9;1 k0-]=6 i-865~;:1+~3 k644;51+~:1659 w..1+-8 q UYlp_ 2R:k u8 z65/ t;5/]?~5/ k3-81+~3 w..1+-8 TTp_ Qei*f+2?:k u8 n62 k0~4]+0;-5 i18 z8~..1+ k65:863 w..1+-8 q 4c4p_ }ei*f+..< u8 k0~5 k01]915/ y-5168 i18 z8~..1+ n31/0: y-8<1+-9 w..1+-8

Transcript of .>PLF:D>KL x >LVLM =VLHTLPO ?JQHRTNJOT ru CUOJ :88

=4:7658>@;?<9A DPNNMTTKJ TP H FHLK HOJ ELLMIMKOT CMR GRHOSQPRT FUSTKN *+

ru CUOJ :88< 5

8 F x : A>LVLM =VLHTLPO ?JQHRTNJOT

APOK DPOK

x:Acb

BFFG@

EP7igj

h

;9

yY >POTJOT[Y^ n=C7N

_]` k-* zus/

_ |5j?=.gLl:^LtHXw]. yq~ ^0. y~u.. ]1 yq/ y*~ _*~vu-u~su Va3xyry/ y*~ xu|t y~ d*~w f*~w

`Ya E16@/I`u+q-/}u~/ ]s/ y1 y/ yu.

bYc AaeVT~R[\,3-K2vW4D*iu2 mus0- y/4 huq.0-u. v*- ms-uu~y~wgy,0 yt. W ]u-*.* |. q~t cu|.

[ZY[[ .hmfd]b Z`8=<+H]y-r0. ]Z\X nu./ b|ywx/. /* d*~w f*~we~/u-~q/ y*~q| ]y-+*-/

[[ 9H=Q}LzBZUYOSdf]n_] _0+ YXX[

[\ r{@s_]` iu2.}q{u - .

edf

n=C7N_]` k-* zus/

n=C7N_]` k-* zus/

x:AA3Z>t;R -K .HKF:G ,H f y B K><MHKg|>G>K: E H? x B O B E vO B:M BHG

~H2R5Bz|hUZXQJ]iu+oKAfDb>|VT26~hHtZ2]:]|fJ3gA-UBvk+RA02B~|i*f+2?g.H5+|fJAf3Gvibk*^DHm[|OZ]i|YCb~_f6hl=|/H

Vmb>AL]iuwpMHLwpMIgLxJq-KAALwpMs?EVkKi*f+2?vjBJL=i*f+2?k/B|JL]iub_;jzwv2cvQOu}wC

K-GQUNNR2o5ZQ4]yp\PoZvAeq?r.H<?:CK|I<|>

I.8A0qYRZoKt_o:Jrm]iukK*2vj|ITC6>I<~?^HBT0-|33ACPQZovLAf3.QXbAh]bs*OC8nABC|\ZDI<H:C{RIAUZSDi>4fANQf}yAYRdE+hC=6>lA|rH?V.n?emH<??IAg+hT_]iuCx:5vNM/5ehQe|/5ehUe|~DC7@OCV0|.PAf?~

]2sltC?9ALwpMIA[mWTQ5=+]C

rWLL5:u2co5UZU41ci*f+2?b_C]iuu59?2x:L5qkL]iuwpM|8=[@A-x>Ud_L=]iub_|}wC3A> {BG:G<B:E 2><K>M:KRf -K }>GKR 3:G@f OBLBM>= MA> v3x7 HG -:R llh 3A> yBK><MHKg|>G>K:E H?xBOBE vOB:MBHGf -K .HKF:G ,Hf MHHD MA> HIIHKMNGBMR MH ;KB>? -K 3:G@ MA> E:M>LM =>O>EHIF>GM H?MA> xvy 0KHC><M :G= LAHP ABF MA> IKHIHL>= LBM> ?HK MA> xvy ;NBE=BG@h

+,

r{@sxvy .>PLF:D>KL

;JPkiF xHG@K:MN E:M BHGL MH MA> G>PER IKHFHM>=Qze _M4Q x8646:-, :6 l~:-

4,Wp_ Uei*f+2?:k aa^a^a__f u8 k0~5 s15]+0;5/ i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__fMtgca Uei*f+2?:k aa^a^a__f u9 t~1 y~;]315/\ m<~ i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f4p7p_ Uei*f+2?:k aa^a^a__f u8 k0~5 x;1]21: i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__fT^Bp_ Uei*f+2?:k aa^a^a__f u8 t-;5/ {15/]065/\ p-58? i18 z8~..1+ k65:863 w..1+-8 qq aa^a^a__f4c|p_ \ei*f+2?:k `a^`_^a__e u8 k0~5 k0-].~1\ r6055? i18 z8~..1+ k65:863 w..1+-8 qqq `a^`_^a__eC9lca \ei*f+2?:k ac^`_^a__e u199 k0-;5/ p61]?~5\ q819 i18 z8~..1+ k65:863 w..1+-8 qqq ac^`_^a__e3/lca \ei*f+2?:k `g^`a^a__e u9 n65/ y;4]?~5\ r6?+- i18 z8~..1+ k65:863 w..1+-8 qqq `g^`a^a__eTb.ca \ei*f+2?:k b`^`^a__f u199 v/ s1:]?1;\ j-315,~ i18 z8~..1+ k65:863 w..1+-8 qqq b`^`^a__f-{sca \ei*f+2?:k f^b^a__f u9 {65/ v/~8]4~5\ y~8~0 i18 z8~..1+ k65:863 w..1+-8 qqq f^b^a__f4d,p_ \ei*f+2?:k `a^b^a__f u8 k0~5 k01]215 i18 z8~..1+ k65:863 w..1+-8 qqq `a^b^a__fho3p_ ]i..:k g^`^a__f u8 {~1 y1;].~5\ n8~52 w7-8~:1659 w..1+-8 g^`^a__fn>fp_ ]i..:k g^`^a__f u8 z9- n~1]415/\ x~:81+2 w7-8~:1659 w..1+-8 g^`^a__f4gca 2R:k a_^c^a__f u199 k0~5 t15/ k3-81+~3 w..1+-8 a_^c^a__f

_0Kr{ 6>E<HF> MH MA> G>P<HF>KL4D<p_ yoi*f+2?:k u8 k0~5 s;5/]=~1 y:;,-5: i18 z8~..1+ k65:863 w..1+-8r^Bp_ yoi*f+2?:k u8 k065/ {15/]065/ y:;,-5: i18 z8~..1+ k65:863 w..1+-8FU}eI yoi*f+2?:k u199 p6 k015/]4~5\ i51:~ y:;,-5: i18 z8~..1+ k65:863 w..1+-8e.KeI yoi*f+2?:k u199 s=65/ z9@]?~5 y:;,-5: i18 z8~..1+ k65:863 w..1+-8k@>p_ yoi*f+2?:k u8 t~4 p1;].~1 y:;,-5: i18 z8~..1+ k65:863 w..1+-8k\feI yoi*f+2?:k u199 t~4 y@-]415/\ m31@~*-:0 y:;,-5: i18 z8~..1+ k65:863 w..1+-8T^yp_ yoi*f+2?:k u8 t-;5/ {15/]+01;\ m812 y:;,-5: i18 z8~..1+ k65:863 w..1+-8UCqeI yoi*f+2?:k u199 t;1 t1]90~\ m5-319~ y:;,-5: i18 z8~..1+ k65:863 w..1+-8d+7p_ yoi*f+2?:k u8 x665 {~1]065 y:;,-5: i18 z8~..1+ k65:863 w..1+-83P-eI yoi*f+2?:k u199 y01; |--].;5/ y:;,-5: i18 z8~..1+ k65:863 w..1+-84[pp_ QeAW:k u8 k0~5 n~:]2=~1\ k63315 m>-+;:1<- w..1+-8 q

qyurM {:K>P>E E MH MAHL> E>:O BG@AC[ca Qe{N5\< u199 k0~2 t~1]?15\ q8-5- y;7731-9 y;7-8<1968 q+sVca 2RPa u199 z~5/ t--]4;1\ k~5,? k3-81+~3 i9919:~5:<WZca Uei*f+..< u199 |; {~1]?--\ o3~,?9 i18 z8~..1+ n31/0: y-8<1+-9 w..1+-8 qqjC-ca 2R:k u9 t;1 t~1].;5\ u-3199~ k3-81+~3 w..1+-8-Hep_ yoi*f+2?:k u8 {65/ |1;]+065/\ m81+ y:;,-5: i18 z8~..1+ k65:863 w..1+-8lJlca \ei*f+2?:k u9 t1 n;5/]?;\ m33~5 i18 z8~..1+ k65:863 w..1+-8 qqqCDuca QeAW:k u9 k0-;5/ x6]?15/\ k6881- m>-+;:1<- w..1+-8 q

]>po6Gx w>LM PBLA>L MH MA> K>M BK>>HcDp_ Qei*+o< u8 z9;1 k0-]=6 i-865~;:1+~3 k644;51+~:1659 w..1+-8 qUYlp_ 2R:k u8 z65/ t;5/]?~5/ k3-81+~3 w..1+-8TT`p_ Qei*f+2?:k u8 n62 k0~4]+0;-5 i18 z8~..1+ k65:863 w..1+-8 q4c4p_ }ei*f+..< u8 k0~5 k01]915/ y-5168 i18 z8~..1+ n31/0: y-8<1+-9 w..1+-8

665WyckK*2vj|YRdE+hAhw8>Zv}JAjhf3yBYR|fJ-Z7{9=49]7A2Uf3>vC]iu5zb_buZtKrYRCWTuaf.wp|YRbu7ZNz?AX++hQvt]`EVESw]G_**G|4`+||6voAQ<z}^L2`A];f3jhRcHBbuC<wA={+Pau5|<H7|fJmAQ}<LHN|WTc@N6;zJAj_LwpM|zV|voAmwI~p2h\L]4CackK*2vj|fJv~UNQU2]4A=qML5?[|bwfJA];=b_|YRbuN+vxuaA+_kK*2vj|gvmu|apI;/e@xC

P4q+LwpMQ}vAEkH*OA]7|v~c3SP]4C~Z7t55ALwp@wfJmM~wv2|@P]AGOqY>xL*Gvw0MAyBAW|fJy*GA-qN=b_|w~|Y<`1A7@`^2jmw2U>]4C,YRdE+hA`^]`?cf2/@xA-cf2Z5xJ/fC=7@b_QY|8PNTAg\<B@2a^v

A2nAv@x+Cf929B?xb>AfAf3?L`;VeY||wAZV|fJeu|f}[Ag|j|Y|w`[Cb_||w?q[KW26|bnA-Hzueyi*|J{C/m~Q[|eQ5Ow|@QaA@B0S]iCO[@|^N|@DC,jv.37<>z=~QAX1xf3HBCfr9**5B?AxQ}QYj9|fJm4<0dn7C

kK*2vj|YRdE+hPAfJm>@x,C\WDZl|muAEVVBq*mu|U;/q2avj|vovA/qkGA;?xwv

j~bJ|/q3*|voCycj

eG*2|v.\h{AK37]j~A?5*2vjEXZR5-vj|*mDP|6AnQ2lyi2bJ3kH|vCf3|c^[kKQ=8pv|*2vjA<uahY|;\<>UNUo2PAB@2a^mw|QZSJiBz~]8HRWZn4Q_\:]8ICf3g_S*2V<h*=vj|pvDhAHzi*/q|bJM_A6,kdx-A^N:WB>/w3afi]|}HM`|~RPyB<*2i2k/}JfK[;^N``CeGI*2ng|8=[@AfJm4<P>{hQ/8h~y|*2k/A6,S1BaaI?k/HtP|FIB7LD0-YA<ZRv@fb~L5|w|f]2a3*|L]C=*2vj||wmoxA[BnK[Bvj`c[B;?VBf]6|ax`CfJm|mucj?`cLwpMJ1<C=i2k/?~UNQQ2Q5>]4AJh?vAvj/

UBV[Bpm|vj.g`fJC?5wpmwcUNQU22U]4AQPwv2>Q8~V=b_O

uC

rWLL5YB]iuu59?2|qi*f+2?k/|i2vj|=JC{2 P:L ;KB>?>= ;R y|xv :M MA> vBK 3K:??B< xHGMKHE x>GMK> HG v3x LRLM>FL :G= HI>K:MBHGLh

QD~B@BiC*|`}AgwQN`;JL]iu=b_A?5wpmwcUNQU2]4Cv LBM> :M MA> LHNMA>:LM>KG I:KM H? MA> vKBIHKM ~LE:G= A:L ;>>G B=>GMB?B>= :L MA> EH<:MBHG ?HK MA>G>P xvy ;NEB=BG@h3A> xvy 0KHC><M BL >QI><M>= MH <HFIE>M> BG ljklh

noRM[ci*f+wTOOC|26|0

2fJ4_i|AWTm^T^D526~Z7Q2A~i*f+2?:k~v|]i..:k~vzrCxQZ\5@|~DC<kQ5hi*f+2?:kH/5ehQeI~

DA>|ei*f+2a^FOuH

*, *-

:2CYOuH4ecUNN\2A:vfJ[0xi*f+2ag.CacWT^D\gAhHE2YOuHQ}ZdvdV0ANh~i*f+2a2\w<f4TC

9RA26g?5OCx*57P}|nR~DAEV^z|]iuPau5~DH/5ehUeIAh;7|:V0\<kK*2vj|FL=b_|fJCSc>wpA=||Pau5?AHQ5aQZUVm4|L]iuwpfJmMA4<EVFwv2wd|V0A;|;8u.<zpQu|<fC

q+@J}M|i*f+2a<,q|02?KA[9T*bvj/q|M_||vrcC*h=|*2vjA;|f3;;|02?KAHh\<jzOC|i*f+wA@0S4e0sib]dA*g[f3|fJa9Cyi*@h=zAf3_S~jzwv2cvQb_PAhe@hH5}zc|Qa3g.CyN9be=zAb_s|k@|Yh7PxueKSi*~;A;|26w~e|=@bnC8PAfQN=]iub_|R4?ev.A7f}|fJeuB=LD>B8C~|wb_|w|YPAf3?V]v.|7yA-h|e;rcC=LwpMg\3x@A_SwDv.B@hhE|WThGOdm1TA_f3.msxc^C

~G ~LLN> .Hh lr c *NER ljjpd PA>G ~IKHOB=>= RHN :EE PBMA : K>OB>P H? MA>pj R>:KL H? >Q<>EE>GM L>KOB<> H? MA>=>I:KMF>GMf ~ A:O> AB@AEB@AM>= MA:M MH

;>MM>K I>K?HKF MA> KHE>L ;HMA :L :K>@NE:MHK :G= :G v3x L>KOB<> IKHOB=>KBG }HG@ +HG@f P> G>>=>= MH :EEH<:M>FHK> K>LHNK<>L MH =>O>EHI :G= >GA:G<><BOBE :OB:MBHG BG?K:LMKN<MNK:E ?:<BEBMB>Lh ~:F >QMK>F>ER IE>:L>= MH K>IHKM MA:MMA> xvy 0KHC><Mf PAB<A :BFL MH K>IE:<>M A > > Q B L M B G @ v3x L R L M >F f M A >>LM:;EBLAF>GM H? : G>P v3xx :G= MHAHNL> :EE xvy =BOBLBHGL NG=>K HG> KHH?BG : G>P xvy ;NBE=BG@ f BL @HBG@ ?NEELM>:F :A>:=h

]~ e}+*-/q~/ hy|u./*~u~M P:L -:R kkf ljjqh vM :;HNM mhoj IFBG MA> F:BG <A:F;>K H? ,>@<Hf MA>xA:BKI>KLHG H? MA> {BG:G<> xHFFBMM>>c{xd F>>MBG@ <:EE>= NIHG F>F;>KL MHK>MNKG MH MA> <A:F;>K ?HK : OHMBG@ HG: IKHIHL:E H? :EEH<:MBG@ _k opo FBEEBHGLMH xvy ?HK K>IE:<BG@ MA> :BK MK:??B<<HGMKHE LRLM>F h ~G MA> IK><>=BG@ noFBGNM>Lf IKH;BG@ JN>LMBHGL :;HNM MA>IKHIHL:E P>K> K:BL>= ;R L>O>K:E ,>@<HF>F;>KL :G= ~ :F @E:= MH K>IHKM MA:MP> F:G:@>= MH E>:I HO>K MA> ANK=E>Lh/? MA> mj F>F;>KL IK>L>GM >Q<EN=BG@MA> xA:BKI>KLHGf ls H? MA>F OHM>= BG?:OHNK H? MA> IKHIHL:E :@:BGLM HG> OHM>H ? H ; C > < M B H G h z : K E B > K H G M A >zLM:;EBLAF>GM 2N;g<HFFBMM>> H? MA> {xA:= :ELH >G=HKL>= : xvy K>JN>LM ?HK< K> : M B G @ MPH = B K> < MH K : M > IH L M LK>LI><MBO>ER :M yk :G= yl K:GDL :G= ~PBEE M:ED :;HNM MA> >QI><M>= F:GIHP>KBG<K>:L> BG MA> >GLNBG@ I:K:@K:IALh 2HfP> A:= LN<<>LL?NEER I:LL>= :G BFIHKM:GMFBE>LMHG> H? HNK IKHC><Mh

nxu _xq||u~wu 2 y | | _*~/ y~0u3A> CHR H? MA> :IIKHO:E HGER INM MA>

IKHC><M ?NG=BG@> Q> K< B L > M H :K><>LL h vGHMA>KK H N G = H ?LN;FBLLBHGL PBEE;> F:=> MHP:K=L> G = l j j q M HK>JN>LM ?NG=BG@?HK MA> BGM>@K:M>=xvy ; N B E = B G @PAB<A BL BG MA>HK=>K H? _k pjj

FBEEBHGLh 6> <:GGHM INM ?HKP:K= MABLLN;FBLLBHG LHHG>K ;><:NL> :<<HK=BG@MH MA> @HO>KGF>GM K>@NE:MBHGLf ;NBE=BG@IKHC><ML FNLM ?BKLM @H MAKHN@A : L>KB>LH? IKBF:KR IE:GGBG@ ?HKF:EBMB>L LN<A :LCNLMB?RBG@ MA> K>JNBK>F>GM HG ?EHHK :K>:L:G= MA> NL>K K>JNBK>F>GM HG MA>?:<BEBMB>L :L P>EE :L B=>GMB?RBG@ JN:EB?B>=M>G=>KL >M< h 3A> vLLBLM:GM y BK><MHKg|>G>K:E f -K vGMAHGR 3:F f :G= ABLIKHC><M M>:F f BG <HGCNG<M BHG PBMAvK<ABM><MNK:E 2>KOB<>L y>I:KMF>GM :G=|HO>KGF>GM 0KHI>K MR v@>G<R :K>:<MBO>ER PHKDBG@ HG MA>L> IE:GGBG@K>JNBK>F>GML MA:M :K> >QI><M>= MH<HFIE>M> BG MA> MABK= JN:KM>K H? ljjqh|BO>G MA> MB@AM MBF> ?K:F> ?HK K>IE:<BG@MA> v3x LRLM>F ;R R>:K ljkl :G= BGOB>P H? MA> F:LLBO> PHKDEH:= BGOHEO>=BG MA> >JNBIF>GM IKH<NK>F>GM IKH<>LLfP> A:= >E><M>= MH L>I:K:M> BML ?NG=BG@K>JN>LM ?KHF MA:M H? MA> ;NBE=BG@ IKHC><MLH MA:M MA> G><>LL:KR M><AGB<:E LMN=R:G= IE:GGBG@ <:G ;> BGBMB:M>= :L LHHG :LIHLLB;E> h

j0- e}}utyq/u p*-{4I MH MA> IK>L>GMf ~ :F IE>:L>= MH :=OBL>MA:M MA> 0KHC><M BL IKH@K>LLBG@ P>EE :G=:EE MA> <KBMB<:E :<MBOBMB>L :K> HG MBF>h ~GMA> ?HEEHPBG@ LBQ FHGMAL f MA> 0KHC><MxHgHK=BG:MBHG 3:LD {HK<> f PBMA MA>:LLBLM:G<> ?KHF O:KBHNL yBOBLBHGLf PBEE<HGMBGN> MH PHKD A:K= MH :L<>KM:BG MA>LBS> H? HNK ?NMNK> PHKDBG@ :K>: DGHPG:L 2<A>=NE> H? v<<HFFH=:MBHG :G= MH=>M>KFBG> HNK <AHB<> HG MA> ?:<BEBMB>LBG MA> G>P xvy ;NB E= BG@ :G= BML?NG<MBHG:EBMB>Lh3A>L> K>JNBK>F>GML PBEE;> NL>= :L MA> ;:LBL ?HK =>LB@GBG@ MA>;NBE=BG@h3A> ;NBE=BG@ M>G=>K =H<NF>GMPBEE ;> IK>I:K>= PBMA M:K@>M <HFIE>MBHG=:M> ;>?HK> >G= ljjqh ~? ;B==BG@ H? ?NG=:L F>GMBHG>= BL LN<<>LL?NEf MA> ;NBE=BG@M>G=>K >Q>K<BL> PBEE <HFF>G<> BG >:KERljjr :G= <HGLMKN<MBHG H? MA> ;NBE=BG@PBEE ;>@BG BG /<MH;>K ljjrh yBL<NLLBHGPBMA MA> vBKIHKM vNMAHKBMR }HG@ +HG@cvv}+d MH ? BG:E BL> MA> LBS> H? MA>;NBE=BG@ LBM> BL :ELH F:DBG@ O>KR IHLBMBO>IKH@K>LLh ~ PBLA MH M:D> MABL HIIHKMNGBMRMH K>BM>K:M> MA:M P> PBEE :=HIM : I>HIE>g;:L>= =>LB@G IABEHLHIAR PA>K>;R LM:??bL<HF?HKM :M PHKD :G= NL>K ?KB>G=EBG>LL=*2k/|*G`bPbQ1C

3A> G>P v3x x>GMK> PBEE =HN;E> MA> LBS> H? MA> IK>L>GM HG> h

*.

H? MA> ?:<B E BM B>L PBE E ;> K>LI><M?NE ER< H G L B = > K > = B G H N K I E : G G B G @ h{NKMA>KFHK> f MAKHN@A MA> ;NB E= BG@=>LB@Gf :MM>FIM PBEE ;> F:=> MH IKHFHM>MA> BF:@> H? MA> =>I:KMF>GM :G= :KHNL>MA> IN;EB<bL BGM>K>LM HG :OB:MBHGh3A>K>:K> LHF> BGBMB:E B=>:L ?HK BG<ENLBHG H?:G >=N<:MBHG:E :G= >QAB;BMBHG @:EE>KRPA B < A F:R ;> N L >= MH = B L I E :RBG?HKF:MBHG :G= >QAB;BML K>E:MBG@ MH MA>ABLMHKR H? }HG@ +HG@ :OB:MBHG :G= BML= >O> E HIF>G M h { K> L A B = > : L ? KHF<HEE>:@N>L :K> FHLM P>E<HF> :G= P>PB E E O: EN> RHNK BGINM h 3:D BG@ MA>HIIHKMNGBMRf ~ PBLA MH >QIK>LL FR MA:GDLMH :EE F>F;>KL H? MA> IKHC><M M>:F ?HKMA>BK >??HKM :G= =>=B<:MBHGh

6BMA MA> :IIKHO:E H? MA> ?NG=BG@ ?HKMA> K>IE:<>F>GM v3x LRLM>F f MA>K>E>O:GM 3:LD {HK<>L PBEE <:KKR HNM FHK>BGg=>IMA :G= =>M:BE>= LMN=B>L BG<EN=BG@ANF:GgF:<ABG> BGM>K?:<>L :G= L:?>MR:LL>LLF>GM :L K>JNBK>= NG=>K MA> 2:?>MR-:G:@>F>GM 2RLM>F PBMA : OB>P MHB=>GMB?RBG@ MA> HI>K:MBHG:E :G= L:?>MRK>JNBK>F>GM H? O:KBHNL LRLM>FL h {HKMAHL> <H E E>:@N>L :G= ?K B>G=L GHMPHKDBG@ BG MA> v3x IKH?>LLBHGf RHN F:RPBLA MH DGHP MA:M MA> >GMBK> v3xLRLM>F A:L LHF> kq LN;gLRLM>FL :G= :GNF;>K H? :G<BEE:KR ?:<BEBMB>L >:<A IE:RBG@:G BFIHKM:GM KHE> BG LNIIHKMBG@ MA> v3xHI>K:MBHGh /NK H;C><MBO> BL MH IKHOB=>: LM:M>gH?gMA>g:KM LRLM>F PAB<A PBEE ;>:;E> MH LNIIHKM nsj jjj : BK<K:?MFHO>F>GML :M }+~v c>JNBO:E>GM MH k mjjFHO>F>GML =:B ER d BG R>:K ljlo :L?HK><:LM ;R vv}+ h 6> :ELH >QI><M>GA:G<>F>GM BG L:?>MR :G= HI>K:MBHG:E>??B<B>G<R MAKHN@A MA> BGMKH=N<MBHG H?G>P LRLM>F ?>:MNK>L MH <HGMKHEE>KL LN<A:L >E><MKHGB< ? E B@AM IKH@K>LL LMKBIL f:NMHF:MB< <:E<NE:MBHG H? HIMBF:E :KKBO:EL>JN>G<> :G= E:G=BG@ MBF> :G= =BK><M=:M: >Q<A:G@> PBMA G>B@A;HNKBG@ :BKMK:??B< <HGMKHE <>GMK>L cv3xxd >M< h 3HD> > I : ; K > : L M P B M A M A > E : M > L M=>O>EHIF>GM BG v3x M><AGHEH@Rf IKHC><MM>:F F>F;>KL A:= F:=> OBLBML MH LHF>H? MA> FHLM FH=>KG v3xx BG MA> PHKE=P B MA : O B >P MH ;KH:=>G BG@ HNKDGHPE>=@> :G= LA:KBG@ MA> >QI>KB>G<>

HG >JNBIF>GM =>L B@G :G= IKHC><MF:G: @>F>G M P B M A HN K HO> K L > : L<HNGM>KI:KMLh3A> IHBGML H? OBLBM BG<EN=>=|N:G@SAHNf zNKHg<HGMKHE c-::LMKB<AMdf,HG=HG :G= ->E;HNKG> h zQI:G=:;BEBMRfBGM>KgHI>K:;BEBMRf LRLM>F ?E>QB;BEBMR :G=>K@HGHFB<L :K> LHF> H? MA> FHK>BFIHKM:GM >E>F>GML MA:M G>>= MH ;><HGLB=>K>= BG MA> =>LB@G H? HNK G>Pv3x LRLM>Fh 1>LNEML H? HNK LMN=R PBEE;> NL>= :L K>?>K>G<>L BG HNK IE:GGBG@h0KBHKBMR PBEE ;> @BO>G MH <HFIE>MBG@ MA>G>P vBK 3K:??B< xHGMKHE x>GMK> ;R vIKBEljkk ?HEEHP>= ;R >JNBIF>GM BGLM:EE:MBHGfM>LMBG@f MK:BGBG@ :G= MK:GLBMBHGh v M:K@>MBL :ELH L>M MH <HFIE>M> MA> PAHE>IKHC><M BG<EN=BG@ K>EH<:MBHG H? HMA>Kxvy =BOBLBHGL MH MA> G>P ;NBE=BG@ ;R>G= ljklh

d0}q~ lu.*0-su.6BMA :P:K>G>LL HG MA> <HGMBGNHNLMK: ? ? B < @KHPMA :G= HNK BG<K>:L>=<HFFBMF>GML BG K>@NE:MHKR ?NG<MBHGLfMA> @HO>KGF>GM A:L K>L>KO>= K>LHNK<>L?HK >LM:;EBLABG@ nm G>P I>KF:G>GM IHLML:M O:KBHNL v3x/ :G= // K:GDL BG MA>G>QM ?HNK R>:KLh /? MA>L> f MA>K> BL HG>xv3x/ IHLM cyk K:GDd PAB<A PBEE ;>=>LB@G:M>= :L MA> A>:= H? MA> vBK 3K:??B<-:G:@>F>GM 2M:G=:K=L /??B<> cv3-2/dh3ABL H??B<>f >LM:;EBLA>= BG ljjm PBMA MA>?NG<MBHG MH IKHOB=> HO>KLB@AM HG :BKMK:??B< F:G:@>F>GMf P:L GHM IK>OBHNLER:EEH<:M>= PBMA MA> G><>LL:KR F:GIHP>KHPBG@ MH MA> L>KOB<>gPB=> K>LHNK<><HGLMK:BGM BG MA> I:LM ?>P R>:KL h ~MLHI>K:MBHG MA>K>?HK> A:L F>K>ER ;>>GF:BGM:BG>= MAKHN@A M>FIHK:KR IHLMBG@H? LM:?? ?KHF v3-yh

v GNF;>K H? MBF>gE B F B M > = I H L M LB G < E N = B G @ M A >: ?HK>L: B= vy|xvcyl K:GDd PBEE :ELH ;><K>:M>= IKH@K>LLBO>ERMH LMK>G@MA>G MA>F:GIHP>K ?HK IKHC><MF:G:@>F>GM H? MA>K>I E : < >F>G M v3xLRLM>F :G= MA> G>P;NB E= BG@ h 6BMA HNK

<NKK>GM IE:Gf MA> xvy 0KHC><M 3>:Ff MH;> A>:=>= ;R MA> :?HK>L:B= vy|xvfPBEE >O>GMN:EER ;> <HFIHL>= H? nl LM:??PBMA LHF> H? MA>F =>IEHR>= ?KHFO:KBHNL =BOBLBHGL :G= LHF> K><KNBM>=MAKHN@A .HG xBOBE 2>KOB<> >FIEHRF>GMM>KFLh

j0- oy. y*~z??><MBO> :BK MK:??B< F:G:@>F>GM :G=KH;NLM K>@NE:MHKR K>@BF> :K> LHF> H?MA> FHL M > L L>G M B : E > E >F>G M L B GF:BGM:BGBG@ : L:?> :G= >?? B< B>GM :BKMK:GLIHKM LRLM>Fh3A> K>IE:<>F>GM v3xL R L M > F : G = H N K N G K > L > K O > =<HFFBMF>GML BG K>@NE:MHKR ?NG<MBHGLPB E E >G:; E> NL MH <HI> PB MA MA><HGMBGNHNL MK:??B< @KHPMA :G= LMK>G@MA>GHNK OBLBHG :G= =>M>KFBG:MBHG H? NIgD>>IBG@ }HG@ +HG@bL IHLBMBHG :L : AN;:G= :OB:MBHG <>GMK> H? MA> K>@BHGh3H MA>:OB:MBHG BG=NLMKRf P> AHI> MA:M MA> :EEg=BOBLBHGgNG=>KgHG>gKHH? :KK:G@>F>GMPBEE IKHOB=> MA>F PBMA JN:EBMR :G= HG>gLMHI L>KOB<> h3H MA> IN;EB< f ~ AHI> MA:MHNK G>P ?:<BEBMB>L :O:BE:;E> MH MA>F PBEEA>EI MH LIK>:= MA> DGHPE>=@> H? :OB:MBHG:G= IKHFHM> MA> BF:@>L H? O:KBHNL:OB:MBHG IKH?>LLBHGL BG MA> =>I:KMF>GMh{BG:EERf ~ AHI> MA:M MA> G>P xvy ;NBE=BG@PBEE ;KBG@ <HF?HKMf A:IIBG>LL :G= IKB=>MH :EE xvy LM:??h ~G MA> =>LB@G H? MA>;NBE=BG@ :G= IKHOBLBHG H? MA> ?:<BEBMB>LM A > K> B G f P> P B E E F:D> LN B M : ; E ><HGLNEM:MBHG PBMA xvy F>F;>KL :G=K>LI><M MA> >GOBKHGF>GM h 6BMA MA>L>@H:EL BG FBG= f ~ EHHD ?HKP:K= MH MA><HGMBGN>= LNIIHKM ?KHF :EE <HEE>:@N>Lf;NLBG>LL I:KMG>KL :G= MA> @HO>KGF>GMh

=b_s>|7@QaAxueKSi*~;CvG >QAB;BMBHG @:EE>KR PBEE ;> L>M NI BG MA> G>P xvy ;NBE=BG@ MH IKHFHM>:OB:MBHG DGHPE>=@> h

*/

|5j?=.gLl:^LtHXwvL B:G wNL BG>LL vO B:M BHG xHG?>K>G<> a zQAB; B M BHG A>E= BG }HG@ +HG@;9x:.=v|{p~l7*UOsV:Cm;R -K 1:RFHG= .@ f 2>GBHK /I>K:M BHGL /?? B<>Kf { E B @AM 2M:G=:K=L a v B KPHK MABG>LL y B O B L BHG

0au.i*b?|@QcU5t4?R4~0SlAA?Iaq5u.i*@?|0au.i*@?zOAc|[_0a0sR|i*HxB@h=>|WTO<fK|v1^oDL]ABo[@B?Cb?~UNNo2P~k5^ZlAC

p8b?;Lu.i*[@~0aMe:3Ar7tZo>1@2|ZU]-B1@A<?V[shU_U:VCPau5H-A^FIMdq~x{L3^s?P0dA0SDu0a|vDMA>=0S5FB@~QSSX2Q`;7AWxi][cBIbw|~bw47\hO5A>8nu.i*hy0S]i@[@]J|sECSh0SLaTO[@A:7:*AWV<L`u.-BJei*f+f;[email protected]][c|Ibw37DBO5C

{T-B@RAb?g/MT;u.i*e:3|gvmn?A-tE5F]`i*m}}0h0u8 t~31: y0~0|<>=>>km+|:TVCMdq\:OB~|tuA~<kQ53eJ0a~*<u.i*Of3~vm>vFK|gvmn?^J|AC>UBAH^6~=0S5FB@FL/QgLn7>u.i*|[@cYA-m^T}3JLQ5=e2.OI|u.-BH5g.|2`i*k/Ae[@u.i**+F6CeTvQm,|2.OI|g.GvAQ5I?f,p+jfbf]g__`bE-B|BEgL/fAmwI~p2]G2iWg.C9RA2`i*k/|~BFk?>?x@A;Hzu.-B|bJM_|H52RvDC8*]iu,q|02?K|}zc|i*f+2ag.AsC^Y}i*[email protected]*

>OQ7nfCw<?Va3TX>0Su.i*[@rAA>3-8n26H5TM*7`|^oC

3A> vLB:G wNLBG>LL vOB:MBHG xHG?>K>G<>a zQAB;BM BHG cvwvxzljjqdf CH BGM ERHK@:GBL>= ;R MA> .:MBHG:E wNLBG>LLvOB:MBHG vLLH<B:MBHG c.wvvd :G= MA>vLB:G wNLBG>LL vOB:MBHG vLLH<B:MBHGcvLwvvdf P:L A>E= BG }HG@ +HG@ HG{>;KN:KR p :G= qh {HEEHPBG@ HG MA>LN<<>LL?NE vwvxzljjo BG 2A:G@A:B fxABG:f MA> :BF H? vwvxzljjq P:L MH;KBG@ MH@>MA>K E>:=BG@ K>IK>L>GM:MBO>LH? MA> ;NLBG>LL :OB:MBHG <HFFNGBMRfBG=NLMKR LI><B:EBLML :G= @HO>KGF>GMH? ? B< B: EL ?KHF vL B: :G= ;>RHG= MH>Q<A:G@> BG?HKF:MBHGf LA:K> >QI>KB>G<>:G= >QIEHK> MA> HIIHKMNGBM B>L ?HK;NLBG>LL :OB:MBHG BG MA> K>@BHGh

vwvxzljjqf PBMA MA> MA>F> ^vLB: ~L.HP /I>G {HK wNLBG>LL vOB:MBHG^f P:L: M M > G=>= ;R FHK> M A :G l ljjI:KMB<BI:GML PBMA po BG=HHK >QAB;BMHKL:G= kl :BK<K:?M HG LM:MB< =BLIE:Rh ~G ABLK>F:KDL F:=> =NKBG@ MA> HI>GBG@@>G>K:E L>LLBHG H? vwvxzljjqf -K *HAG,:Nf MA> vLLBLM:GM yBK><MHKg|>G>K:E H?xBOBE vOB:MBHG c{EB@AM 2M:G=:K=Ldf IHBGM>=HNM MA:M }HG@ +HG@f ;>BG@ IHLBMBHG>=:M : LMK:M>@B< EH<:MBHG BG vLB: f A:L>QI>KB>G<>= : K>F:KD:;E> @KHPMA BG:BK<K:?M FHO>F>GMLf I:LL>G@>K :G= <:K@HMAKHN@AINM LBG<> MA> HI>GBG@ H? MA>G>P }HG@ +HG@ ~GM>KG:MBHG:E vBKIHKMBG kssrh }> <HG@K:MNE:M>= MA> ;NLBG>LL:OB:MBHG <HFFNGBMR ?HK BML LA:K> H?<HGMKB;NMBHG MH MA> =>O>EHIF>GM H? MA><BOBE :OB:MBHG BG=NLMKR BG }HG@ +HG@ h~G=>>=f ;NLBG>LL :OB:MBHG :<MBOBMB>L A:O>>QI>KB>G<>= >O>G LMKHG@>K @KHPMA BGM>KFL H? : BK<K: ? M FHO>F>GML :G=I:LL>G@>K MAKHN@AINM BG K><>GM R>:KLfIKBF:KBER =N> MH MA> BG<K>:LBG@ NL> H?;NL BG>LL :O B:M BHG : BK<K: ? M ?HK MA>MK:GLIHKM:MBHG H? ;NLBG>LL >Q><NMBO>L:G= <HFI:GR I>KLHGG>E :L }HG@ +HG@bL><HGHFR <HGMBGN>L MH IKHLI>Kh

vEHG@LB=> PBMA MA> >QAB;BMBHG :G= LM:MB<=BLIE:R H? :BK<K:?Mf M><AGB<:E =BL<NLLBHGL>LLBHGL PBMA ?H<NL HG LI><B?B< :LI><MLH? ;NLBG>LL :OB:MBHG P>K> :KK:G@>= hvwvxzljjq ?BEE>= MA>L> L>LLBHGL PBMA>QI>K M LI>:D>KL :G= FH=>K:MHKLBG< EN= BG@ -K ,: E B M 2A:A f 1>@ BHG: E

yBK><MHKf ~xv/ vLB: :G= 0:<B?B< /??B<> h4IHG BGOBM:MBHG ;R .wvv :G= vLwvvf-K ,:N =>EBO>K>= : IK>L>GM:MBHG BG HG>H? MA> L>LLBHGL MBME>= ^vLB:G 2DB>L :G=wNLBG>LL vOB:MBHG g vK> 6> -HOBG@{HKP:K=u^ -K ,:N >FIA:LBL>= BG ABLIK>L>GM:MBHG MA:M :L >:KER :L BG MA>IE:GGBG@ IA:L> H? MA> G>P }HG@ +HG@~GM>KG:MBHG:E vBKIHKMf MA> IHM>GMB:E H?;NL BG>LL :O B : M BHG A:= ;>>G ?N E E RK><H@GBL>= :G= : =>=B<:M>= :K>: A:=M A > K > ? H K > ; > > G : E E H < : M > = M H:<<HFFH=:M> : ;NLBG>LL :OB:MBHG <>GMK>PBMA M:BEHKgF:=> I:LL>G@>K :G= :BK<K:?M?:<BEBMB>L MH ?:<BEBM:M> ;NLBG>LL :OB:MBHG=>O>EHIF>GMh3H ;>MM>K L>KO> ;NLBG>LL:OB:MBHG I:LL>G@>KLb G>>=Lf : G>P A:G@:KMH :<<HFFH=:M> E:K@>K :BK<K:?M LN<A :LwH>BG@ qmqgrjj BL NG=>K <HGLMKN<MBHG:G= BL L<A>=NE>= MH ;> BG L>KOB<> BG MA>L><HG= A:E? H? ljjqh3A> =>E>@:M>L P>K>:ELH BG?HKF>= MA:M MA> :IKHG :K>: H?MA> ;NLBG>LL :OB:MBHG <>GMK> PHNE= ;>>QI:G=>= MH ?:<B E BM:M> MA> >?? B< B>GMFHO>F>GM H?f :G= IKHOB=> :==BMBHG:EI:KDBG@ LI:<> ?HKf MA> ;NLBG>LL :OB:MBHG:BK<K:?Mh3H@>MA>K PBMA MA> HMA>K BGM>@K:E;NBE=BG@ ;EH<DL H? MA> :OB:MBHG LRLM>FBG<EN=BG@ : KH;NLM :OB:MBHG K>@NE:MHKRK>@ BF> :=FBG BL M>K>= ;R MA> x B O B EvOB:M BHG y>I:KMF>GM cxvydf AB@AgJN:EBMR :BK MK:??B< F:G:@>F>GM L>KOB<>:G= <HFI>M>GM EH<:E :OB:MBHG PHKD?HK<>f}HG@ +HG@ BL <HG?B=>GM MA:M ;NLBG>LL:OB:MBHG =>O>EHIF>GM PBEE <HGMBGN> MHFHO> :A>:= BG MA> R>:KL MH <HF> h3A>=>E>@:M>L P>K> IE>:L>= MH GHM> MA>NGIK><>=>GM>= @KHPMA H? ;NLBG>LL:OB:MBHG BG }HG@ +HG@ :G= :IIK><B:M>=xvy ?HK LA:KBG@ MA> NL>?NE BG?HKF:MBHGh

bP~0SZm|u.i*-B5-{kte_cEu.Bbboa__Eu.Bbbocd_Eu.Bbbodd_Eu.BBnM7yfek[E}zBwNL BG>LL vO B : M BHG v B K< K: ? M xNKK>GM ER1>@BLM>K>= BG }HG@ +HG@wHF;:K=B>K x,pjn ;NLBG>LL C>M|NE?LMK>:F |ljj ;NLBG>LL C>M|NE?LMK>:F |noj ;NLBG>LL C>M|NE?LMK>:F |ooj ;NLBG>LL C>M2BDHKLDR 2qpxe A>EB<HIM>K

Pau5H-A^FIMdq~0au.i*b?^s?C-K *HAG ,:Nf MA> vLLBLM:GM yBK><MHKg|>G>K:E H?xBOBE vOB:MBHG c{EB@AM 2M:G=:K=Ldf :==K>LL>= :MMA> vLB:G wNLBG>LL vOB:MBHG xHG?>K>G<> h

E16@/I?JQHRTNJOT =ITLVLTLJS

*0

kgnhl hljjq

26cOw|~@<Qa__f|M|WDA\C6_|o~V=X1C

/NK xvy ;HHMA :M MA> z=N<:MBHG :G= x:K>>KL zQIH ljjq F>M PBMA P:KF

K>LIHGL> ?KHF LMN=>GML :G= CH; L>>D>KLh

n hm hljjq

u5BC0S_yHSY}6Ii*4a__fA->k:{rCCy|xv H??B<B:M>= :M MA> ^vOB:MBHG y:R ljjq^ A>E= ;R MA> 2<HNM vLLH<B:MBHG

H? }HG@ +HG@ c+HPEHHG 1>@BHGdh

q hm hljjq

i18=~? v-= }-~3~5,AWhiu8 i903-? y46;:>{]iuh2A<2aQ?*C

-K vLAE>R 2FHNMf xAB>? zQ><NMBO> /??B<>K H? vBKP:R .>P 9>:E:G=f F>M PBMA

HNK F:G:@>F>GM M>:F BG MA> xvy }>:=JN:KM>KLh

q gr hm hljjqKC_]i^?0s{3f]|vj2C

v =>E>@:MBHG ?KHF MA> xBOBE vOB:MBHG vNMAHKBMR H? w:G@E:=>LA

OBLBM>= MA> zG@BG>>KBG@ :G= 2RLM>FL yBOBLBHGh

lp ho hljjq

5F]im}a.?yS:Cl8 i99~, s6:~1:-HUIA{SQyc0Saf

b6lA|5F]i[@Ft?^s?CyK vLL:= +HM:BM> cE>?Mdf 0K>LB=>GM zF>KBMNL H? MA> xHNG<BE H? ~xv/f :==K>LL>=:M MA> y>O>EHIF>GM H? ~GM>KG:MBHG:E xBOBE vOB:MBHG 2>FBG:K :M MA> 0HERM><AGB<

4GBO>KLBMR =NKBG@ ABL OBLBM MH }HG@ +HG@h

l hp hljjq/;_bN25l8 i5,8- t;1@ j8~5,6HJQI>{i*f+2?b_C

yK vG=K> ,NBS wK:G=H c?HKMA ?KHF KB@AMdf -BGBLM>K H? 3K:GLIHKM H? vG@HE:f

OBLBM>= MA> v3x7h

*1

shm hljjq

262aQ~]iu~<E2;W^`vC3A> xvy F:G:@>F>GM M>:F IKHIHL>= : MH:LM :M MA> xvy 2M:?? xEN;vGGN:E yBGG>Kh

v.r1qv3XAWmf.CxHEE>:@N>L >GCHR>= @HH= ?HH= :G= @K>:M PBG> h

lm hm hljjq

r0d0I?1ci*f+2?b_ATXi2bJC

3A> 8:N 3LBF -HG@ yBLMKB<M xHNG<BE HK@:GBL>= : OBLBM MH MA> v3x7 MH @:BG

: ;>MM>K NG=>KLM:G=BG@ H? v3x HI>K:MBHGLh

kl hn hljjq

k5]ih^BD6]i^BLa[@|;f^<]iu?0ABC

~SlA|hUQ\}5Fi*qfb?C

3A> lG= 3KBI:KMBM> ~GM>KG:MBHG:E vOB:MBHG ,:P ->>MBG@ A>E= BG }HG@

+HG@ P:L :MM>G=>= ;R K>IK>L>GM:MBO>L ?KHF MA> |>G>K:E v=FBGBLMK:MBHGH? xBOBE vOB:MBHG H? xABG:f MA> xBOBE vOB:MBHG vNMAHKBMR H? -:<:Hf MA>

z<HGHFB< y>O>EHIF>GM :G= ,:;HNK wNK>:N :G= xvyh

krglkhnhljjq

i]..2:Dv.<OWL|-6yODHJIBC~D6lA|i*|*

*qO5F?IC3PH v BK 2>KOB<>L y BO BL BHG <HEE>:@N>L :G= -BLL 2ABKE>R 6HG@ cKB@AMd f|HO>KGF>GM xHNGL>E H? MA> y>I:KMF>GM H? *NLMB<>f :MM>G=>= MA> ~GM>KG:MBHG:E

xHG?>K>G<> HG xHGM>FIHK:KR ~LLN>L BG vBK a 2I:<> ,:P BG -:<:Hh

ll hn hljjq

B`??<>4Io|G1CE|l`C2M:?? xEN; F>F;>KL CHBG>= : ABDBG@ MKBI HG 2BK x><BEbL 1B=> MH @>M

<EHL> MH G:MNK> h

*2

AaeVT~R[\,3-K2vW4D*.>P 2><NKBMR ->:LNK>L ?HK 2<K>>GBG@ ,BJNB=Lf v>KHLHEL :G= |>ELx:.=v|N1E jXD~}UOCk;R -BLL *>GGB ?>K 6:G f /I>K:M BHGL /?? B<>Kf v B KIHK M 2M:G=:K=L y B O B L BHG

aUNNR2\5UZQ4tA]iuvo0S5FB@|0SOIAP.@cY^B2qDNAB{D|=0HAl;/zNC5F]`i*m}Y5F]im}Z[cUNNt2X5Au5H^J[QMmtO`Y^f:fB]i-B|[5IYZ]ALIwY^z=zNC

UNNt2ZU5A]iu5>5F]im}swlp5|9jAaz7@Y^B2qDNAB{D`_|=;/2?U.Aeg0F6~0S5FB@wY=;/zNCF6fJEVL]i*uL?0@?BaB2^>k:C|B@;/H<?A;|a;/^>k:C|i*;/H<?C]iuRw=zN>AjIvdE@h1TAgGBEi*;/H<?|h9C]iuSP0hQvt=}em?IAP;0x7@w3|F6fJvKAvP<B2^BB@;/7}uLDi*uL`@.hE;T6;k8A-x>3H5j+7yC

OwOI;BE>3|zJAyh;~;/`_a*OvA;/`_?@|vC]iu\f*wAe@xq*|u@c/AG.w~=zNC]iu/pKxm+?As[B=:jAuV=;/zN|wY4QDZHCMRAf3gvPk=T7,A~7^H5=zN|^ND@y33C~WT=:u|@P]A]iu>JG.\7A~YSkjDkPB}TB@eot~^|0S5FB@ZbA;:=;/zN|^ohSe.ZCeTH}OIy=;/zN|@;AB2^~0S5FB@0ub8|MkdUdYD`__ 5^?A-u>d__Jl^N>CAv[di*uLBOc@I?DB@OIC

wY=zN/4[R\PAB2^Q/B@6RI?k/C]iuBB2^BB@;/7}uLBJ3Bi*uLD}1g.?a?0Adt>B@6RI?k/A;w0x0S5F

B@ Y,<[;/`_+d Z|bJA;:[_6R.XPh*-|\CH~Ap7ed ___yOI~w5;/`_aJC`_AHk7dfXe0SOIA.BOI?HcbXCeTiz=;/zNAOI+~`_a>]7?wsh`__ Xz|Y^B2qDNAB{D YEV\v^Xv4,N{D ZUMC~=zNwY|/5\QfAOI]UM|gzY^B2qDNAB{DkAn~7shb__j\v^Xv4,N{D.f0SZ@uMC

=zNwYPA]iu<i*@.hElA`n?IAkGwY=zNy0S5FB@bJ|TUC?^HB|<kQ~LIA[6xy*Z.IOIwY|;/`_]`AF=dpZ~IbiV|^233ADjeiV;/`_+d|fJb]C

vXQ5|FcK5E[[i*OI0u}AQAI`_Y^B2qDNAB{D|=;/zN2XbJ|*C

=;/`_zNE;*O9AA=0S5FB@|i]g.gZ7{9C7Aw7MB2^BB@;/7}uLBi*uLB;/^BWT=:uD7@w3v/@YA;|B@OI|zJdrA]iu,9x>3snC

7@Y=;/zN|]QmfJA]iu?GO<5F]im}N0zJAxy.BOINA~B@l42S\iB^qq|Y^B2qDNAB{D|33A?xq`}`|Xq3TA.oCDi*OI|;/C

]iud<>B@6RI?k/A0x=;/zN|wYHsCxvy H??B<>KL P>K> =>IEHR>= MH MA> vBKIHKM zF>K@>G<R x>GMK> MHFHGBMHK MA> BFIE>F>GM:MBHG H? MA> G>P L><NKBMR F>:LNK>Lh

3A> xBOBE vOB:MBHG y>I:KMF>GM cxvydBFIHL>= G>P L><NKBMR F>:LNK>L ?HKL<K>>GBG@ E BJNB=L f :>KHLHEL :G= @>ELc,v|Ld BG <:;BG ;:@@:@> ?HK :EE =>I:KMBG@?EB@AML ?KHF MA> }HG@ +HG@ ~GM>KG:MBHG:EvBKIHKM c}+~vd ?KHF -:K<A lkf ljjqh3A> G>P F>:LNK>L P>K> K><HFF>G=>=;R MA> ~GM>KG:M BHG:E x BO B E vOB:M BHG/K@:GBS:MBHG c~xv/d BG K>LIHGL> MH :G:EE>@>= M>KKHKBLM IEHM BGOHEOBG@ EBJNB=>QIEHLBO>L :@:BGLM <BOBE :BK<K:?M PAB<AP:L ?HBE>= ;R MA> 4+ :NMAHKBMB>L BGvN@NLM ljjph

/G K><>BOBG@ MA> 2M:M> E>MM>K ?KHF ~xv/K>@:K=BG@ MA> G>P L><NKBMR <HGMKHE@NB=>EBG>L HG L<K>>GBG@ EBJNB=Lf :>KHLHEL:G= @>EL BG y><>F;>K E:LM R>:Kf xvyLM:KM>= MH IK>I:K> ?HK BFIE>F>GM:MBHGH? MA> G>P L><NKBMR F>:LNK>L :M }+~vh3A> IK>I: K : M B HG PHKD B G < E N=>=<HGLNEM:MBHG PBMA MA> wH:K= H? vBKEBG>L1>IK>L>GM:MBO>L cwv1d f MA> v BKIHKM2><NKBMR xHFFBMM>> <A:BK>= ;R MA>vBKIHKM vNMAHKBMR }HG@ +HG@ cvv}+d:G= MA> vOB:MBHG 2><NKBMR xHFFBMM>>cv2xd <A:BK>= ;R MA> 2><NKBMR wNK>:Nc2wdh6BMA ?NEE LNIIHKM ?KHF MA> BG=NLMKR:G= >G=HKL>F>GM H? BFIE>F>GM:MBHG H?MA> G>P F>:LNK>L ?KHF v2xf xvyF:BGM: BG>= <EHL> E B: BLHG PBMA :G=IKHO B=>= :=O B<> MH HNK ;NL BG>LLI:KMG>KL H? vv}+ f vOB:MBHG 2><NKBMRxHh ,M=h cv52zx/d :G= :BKEBG>L MAKHN@A: L>KB>L H? M:LD ?HK<> F>>MBG@L :G=

<:K>?NEER FHGBMHK>= MA> IKH@K>LL H? MA>IK>I:K:MBHG PHKDL ;R :EE I:KMB>Lh

4G=>KLM:G=BG@ MA:M >=N<:MBHG MH MA>MK:O>E BG@ IN;E B< :G= L><NKBG@ MA>BK<HHI>K:MBHG BL >LL>GMB:E BG >GLNKBG@ :LFHHMA L<K>>GBG@ IKH<>LL :M L><NKBMR< A > < D I H B G M L f x vy E : N G < A > = :<HFIK>A>GLBO> IN;EB< K>E:MBHG c01d<:FI:B@G MH IN;EB<BL> MA> G>P F>:LNK>Lh3A> 01 LMK:M>@R P:L LM:KM>= HNM ;RAHE=BG@ : IK>LL <HG?>K>G<> :G= BLLNBG@: IK>LL K> E>:L> MH :GGHNG<> MA>BFIE>F>GM:MBHG =:M> :G= =>M:BEL H? MA>G>P L><NKBMR F>:LNK>Lh xvybL P>;LBM>P:L NI=:M>= LBFNEM:G>HNLER MH IKHOB=>HGEBG> BG?HKF:MBHG :G= ?K>JN>GMER :LD>=JN>LMBHGL H? MA> G>P KNE>Lh3H :EEHP ?HKMA> PB=>LM =BLL>FBG:MBHG H? BG?HKF:MBHGK>@:K=BG@ MA> G>P L><NKBMR F>:LNK>Lfxvy PB M A : L L B L M : G <> ? KHF MA>~G?HKF:MBHG 2>KOB<>L y>I:KMF>GM c~2ydfIKH=N<>= :G vGGHNG<>F>GM H? 0N;EB<~GM>K>LM ?HK ;KH:=<:LM BG@ HG EH<:EM>E>OBLBHG :G= K:=BH LM:MBHGLf HG ;H:K=MA> MK:BGL H? -31 vBKIHKM zQIK>LL ,BG>f:L P> E E : L : M }+ ~v h 3H >GA:G<>I:LL>G@>KL b :P:K>G>LL H? MA> G>PL><NKBMR F>:LNK>Lf vv}+ =BLIE:R>= >gLB@G:@> :G= kjj LB@GL BG MA> =>I:KMNK>A:EE H? }+~vf :G= IKBGM>= ?BO> FBEEBHGBG?HKF:MBHG E>:?E>ML ?HK =BLMKB;NMBHG MH:BKEBG>L f 3K:O>E ~G=NLMKR xHNG<BE :G=

MK:O>E>KL :M }+~vh

v M m :F H G M A > ? B K L M = :R H ?BFIE>F>GM:MBHG H? MA> G>P F>:LNK>L fvv}+ :<MBO:M>= MA> vBKIHKM zF>K@>G<Rx>GMK> cvzxdh 1>IK>L>GM:MBO>L ?KHFxvyf vv}+f v52zx/f 0HEB<> f :BKEBG>L:G= @KHNG= A:G=EBG@ :@>GML P>K> BGOBM>=MH vzx MH < EH L> ER FHG B MHK MA>HI>K:M BHGL H? }+ ~v >LI><B: E ER MA>L><NKBMR L<K>>GBG@ <A:GG>EL LH MA:M>F>K@>G<R LBMN:MBHGLf B? A:II>G>=f <HNE=;> K>LIHG=>= MH JNB<DERh /G MA:M =:R:;HNM po jjj =>I:KMNK> coq`d :G=M K :G L ?> K c nm`d I:L L>G@>K L P>K>L<K>>G>= :M O:KBHNL I:LL>G@>K L><NKBMR<A><DIHBGML h 3H <HFIER PBMA MA> G>PL><NKBMR F>:LNK>L f I:LL>G@>KL :K>K>JNBK>= MH :;:G=HG :EE ,v|L BG >Q<>LLH? kjj FEf BG<EN=BG@ =NMB:;E> :E<HAHEB<; > O > K : @ > B M >F L f : M L < K > > G B G @<A><DIH BG M L h vFHG@ MAHL> GHG g<HFIEB:GM ,v| BM>FL :;:G=HG>= ;RI:LL>G@>KLf HO>K mjj =NMB:;E> :E<HAHEB<;>O>K:@> BM>FL P>K> A:G=>= HO>K MHMA> xNLMHFL :G= zQ<BL> y>I:KMF>GM=:BER ?HK =BLIHL:E HG MA> ?BKLM P>>D H?BFIE>F>GM:MBHGh

0HLMgBFIE>F>GM:MBHG K>OB>P F>>MBG@LP>K> A>E= :FHG@LM xvy :G= HNK:OB:MBHG ;NLBG>LL I:KMG>KL MH >O:EN:M>MA> BFI:<ML H? BFIE>F>GM:MBHG MH MA>

HI>K:M BHGL H ? }+ ~v h /G> H? MA>K><HFF>G=: M BHGL H ? MA> K>O B >PF>>MBG@L P:L MH K>?BG> MA> L><NKBMRL<K>>G BG@ IKH<>LL ?HK : B Kg MH g L>:I:LL>G@>KL MH :E E>O B:M> <HG@>LM BHGIKH;E>FL :G= MH BFIKHO> MA> PHKD?EHP:M MA> L><NKBMR L<K>>GBG@ <A:GG>EL BGMA> 2DR 0B>Kh

1>@:K=BG@ MA> z:LM>K EHG@ P>>D>G= BGvIKB E PAB<A P:L MA> I>:D ?HK : BKI:LL>G@>K =>I:KMNK>Lf MA> G>P L><NKBMRF>:LNK>L HG L<K>>GBG@ ,v| B M>FL<HGMBGN>= MH KNG LFHHMAERh

3A:GDL MH MA> <HG<>KM>= >??HKML H?vv}+f v52zx/f :BKEBG>Lf 2wf ~2y :G=:EE K>E>O:GM I:KMB>Lf :G= MA> <HHI>K:MBHG:G= I:MB>G<> H? :BK I:LL>G@>KL :M }+~vfMA> G>P L><NKBMR F>:LNK>L HG L<K>>GBG@,v|L P>K> E:NG<A>= LFHHMAER PBMAHNM<:NLBG@ :GR =BLKNIMBHGL MH ?EB@AM L>KOB<>L:M }+~vh

{HK MA> G>QM LM>If xvy PBEE <HGMBGN>MH <HHI>K:M> PBMA ~xv/ :G= MH PHKDHNM : @EH;:E LHENMBHG MH MA> IKH;E>F H?M K : G L ? > K I : L L >G @> K L P B M A ,v| LINK<A:L>= >BMA>K :M :BKIHKM K>M:BE>KL HKHG ;H:K= : BKIHK M PBMA : O B>P MH>GA:G<BG@ L><NKBMR ?HK :BK I:LL>G@>KLh

=|0HAl;/zN.>P L><NKBMR F>:LNK>L ?HK <:;BG ;:@@:@>

`^ ]7OIS}NAlY^B2q|NAB{DAZG;?wjsh`__Xz|?5daCkF?wbc`__Xz|?5AR4ZU,Y^B2q\NAB{DAgj?JfDvEE ,v|L BG <:;BG ;:@@:@> FNLM ;> <:KKB>= BG <HGM:BG>KL PBMA : F:QBFNF <:I:<BMRH? kjj FEh ,v|L <:KKB>= BG <HGM:BG>KL E:K@>K MA:G kjj FE PBEE GHM ;> :<<>IM>=f >O>GB? MA> <HGM:BG>K BL HGER I:KMg?BEE>=t

a^ ]7daY^B2q|NAB{Dl?5AZ\Z-cQ5?wjshQuzB-I|s;J|0f3qysA=9vh;3qy]qJ\DxHGM:BG>KL FNLM ;> BG : MK:GLI:K>GMK> g L> : E :; E > I E : L M B < ; : @ H ? :F:QBFNF <:I:<BMR H? HG> EBMK>h3A><HGM:BG>KL FNLM ?BM <HF?HKM:;ERPBMABG MA> MK:GLI:K>GM IE:LMB< ;:@fPAB<A LAHNE= ;> <HFIE>M>ER <EHL>=t

b^ AL/`aPAU7?5|3qy\<S}AlvxybA;:vA`_CnyOININAQ5U7?5|3qyD;|3A> IE:LMB< ;:@ A:L MH ;> IK>L>GM>= L>I:K:M>ER ?KHF HMA>K <:;BG ;:@@:@> ?HK OBLN:E >Q:FBG:MBHG:M MA> L<K>>GBG@ IHBGMh /GER HG> MK:GLI:K>GM IE:LMB< ;:@ I>K I:LL>G@>K BL I>KFBMM>=t :G=

c^ ]7:{B[9SbP.D|\N,.]Gl{DAL_<PIdoMCzQ>FIM BHGL P B E E ;> F:=> ?HKF>=B<:MBHGL f ;:;R FBED i ?HH= :G=LI><B:E =B>M:KR K>JNBK>F>GML LN;C><MMH O>KB?B<:MBHGh

*3

+*

.hmfd]b Z`8=<+HvBK;NL vmrj 3>LM {EB@AML MH }HG@ +HG@ ~GM>KG:MBHG:E vBKIHKM:2~}.=v|?THlXD~}UOCm;R -BLL 8 6 xA>NG@ f 2:?>MR /?? B<>Kf v B KIHK M 2M:G=:K=L y B O B L BHG

0S5FB@~Q55s:Ky<*k-aibg_|gv]l-AAvN[UNNt2ZQ5ZX4Aat/kB[|*k-auL]BA;|UNNR2\5UZQ4AaqPL1B[|U5+qi*uL]BCibg_[q`8bEIBAj@fh^g;A8bt-|wede_u4A`p+jfcf]c__|pc_XC

*:8gv]l-AA^?hf31J=Q?bE-BF6fJ|4jC*|w~QJcUZ8oSZ2?/AHP=B@rZ/fC~QSSN2_x|=B@h8wpsACgLEVT4PbE-BbJ|zpA=Fud<<1EAdvj:[;9AX|wDL/C

e*+F6wzibg_bJA]iu6~UNN\2/LI0SB@2a^HB2^IvA8?[muA`nB@||Y|<wFHsA-;5F]im}tenB|bE-BeFAkGB@[Siz7@|B@[YzNC8?[mu~UNNQ2o5]4AmuhNB@bsiz5F]im}CnB-B]x|zNAIGvAthjef]Ai]qiz7@zNC

:v|jef]EVExu<Cudk@|EAdd,A;M-B[/BLhZ,7d*|}3PWW4po`D~g~BoH`JUd-B~NDM|}*^mDFSIA;iz/q,RzNDg{{jA;;T]t0D;|xLNbi^A;\<`Su|NbCB@Y,zggHz<NhYAf>5F]im}h`_B^FCKzlAB@Y,z|Y,~I;nvL`` a__uz|-KNBuwCYA+=?^5Kfh_;BB}uKfg;|-BC

hN|Yizk\|5F]im}zNPAB@/q^F2~UNNt2R5o4h@0S5FB@;7uanB-B|hYA[mB2^|B@Y

GgHz?k@BNC

{-A0jef]RAve_Dvea:5~BD||Yg{\HzAEVjURZBA,Jibg_-B^QA-CL}*|Y;wzbE-BbJC

^z:8gv]l-A<fTibg_|-AbJhYAgH5B?mB2^Dcb+A0h1<[]]`r5DpL]ANbJ]`|}1|YvQm]ePAB@|;\<4Pibg_|bJCi*@[@Q4_+AB@g+jzHzC]-h]\+\dhz2B~<cb+zJWyAr:3gC0a5Fi*@Q?>cp2S5~0SlAAibg_-Bg7B?1@A7@3*b\mu/Mibg_-r9S^*|IA[C,h4.AQPue:7B?l>TE-B-r}_b6O|GOAK[qhRhF

3A> }HG@ +HG@ ~GM>KG:MBHG:E vBKIHKMc}+~vd A:L L>>G vBK;NL vmrj MPB<> ?HKKHNM> IKHOBG@ ?EB@AML BG : ?HNKgFHGMABGM>KO:Eh3A>R P>K> HI>K:M>= ;R vBK;NLxHFI:GR ?KHF 3HNEHNL> :G= ,N?MA:GL:|>KF:G v BK E BG>L ?KHF {K:GD?NKM HG.HO>F;>K krf ljjp :G= -:K<A lnf ljjqK>LI><MBO>ERh w>BG@ MA> PHKE= bL E:K@>LMI:LL>G@>K :BK<K:?M f MA> PBG@ LI:G H?vmrj F>:LNK>L qshrF PBMA : F:QBFNFM:D>gH?? P>B@AM H? opj MHGG>L PAB<A BL:;HNM nj I>K <>GM A>:OB>K MA:G MA:M H?: wqnqgnjjh

3A> ?EB@AML F:KD>= MA> LN<<>LLBG HNK IK>I:K:M BHG ?HK MA>:KK B O: E H ? MA> .>P ,:K@>vBK<K:?M c.,vdf PBMA BML =>LB@GB=>: FHHM>= BG MA> >:KER sjL:G= ;>?HK> MA> <HGLMKN<MBHG H?}+~vh ~G kssjf PA>G MA> F:LM>KIE:G ?HK MA> MA>G G>P :BKIHKMP:L ;>BG@ =K:PGf BML IE:GGBG@A:= BG<EN=>= ?NMNK> HI>K:MBHGLH? MA> .,vh3A> .HKMA 1NGP:R:G= BML =N:E M:QBP:R LRLM>FP>K> =>LB@G>= :G= <HGLMKN<M>=PBMA LN<A HI>K:MBHGL BG FBG=h

3H I K > I : K > M A > } + ~ v ? H K:<<HFFH=:MBG@ MA> vmrj HI>K:MBHGLfM A > x B O B E vO B : M B H G y>I : K MF>G MK><HFF>G=>= MH MA> vBKIHKM vNMAHKBMR}HG@ +HG@ cvv}+d BG >:KER ljjm MHNG=>KM:D> : <HFI:MB;B E B MR LMN=R MHK>O B>P MA> ?:< B E B M B>L :G= IARL B<: E<A:K:<M>KBLMB<L H? MA> }+ ~v :G= MH: L L > L L B M L <HFI E B : G <> P B M A M A>:>KH=KHF> EB<>GLBG@ K>JNBK>F>GML ?HKMA> .,v PAB<A A:= ;>>G <:M>@HKBL>=:L xH=> { :BK<K:?M ;R MA> ~GM>KG:MBHG:ExBOBE vOB:MBHG /K@:GBS:MBHG c~xv/dh3A><HFI:MB;BEBMR LMN=R <HFIE>M>= BG -:Rljjn <HG?BKF>= MA:M MA> }+ ~v P:L@>G>K:EER BG <HFIEB:G<> PBMA MA> ~xv/xH=> { K>JNBK>F>GML ;NM <>K M: BGNI@K:=BG@ PHKDL P>K> G>>=>= MH ;KBG@BM NI MH ?NEE <HFIEB:G<> h

3A> F:CHK NI@K:=BG@ PHKDL BG<EN=>=PB=>GBG@ H? MAHL> M:QBP:RL LAHNE=>KL:LLH<B:M>= PBMA MA> 2HNMA 1NGP:R BGHK=>K MH :OHB= HO>KA:G@BG@ H? MA>:BK<K:?M >G@BG>L HO>K NGI:O>= :K>: PAB<AFB@AM <:NL> EHHL> LH B E BG@>LM BHG fK>EH<:MBHG H? LMHI ;:KL BG<EN=BG@ @KHNG=F:KDBG@ :G= EB@AMBG@ ?HK :BK<K:?M AHE=BG@MH F>>M L:?>@N:K=BG@ K>JNBK>F>GML fK> EH<:M BHG H? H;C><ML MH F:BGM: BG<E>:K:G<> =BLM:G<>L :G= >QM>GLBHG H?C>M ;E:LM ?>G<>L MH <HGM:BG MA> PB=>K C>M;E:LM >??><Mh3A> vBKIHKM {BK> xHGMBG@>GMA:= :ELH NI@K:=>= MA>BK K>L<N> :G= ?BK>?B@AMBG@ c1{{d <:I:;BEBMR MH ~xv/ x:Mhkjh3ABL F>:GL MA:M MA> 1{{ :IIEB:G<>L<HNE= =BL<A:K@> ?H:F LHENMBHG :M : K:M>

ibg_cUNNt2ZQ5ZX4/K-aYSCvmrj :KKBO>= :M MA> }+~v ?HK MA> ?BKLM MBF> HG .HO>F;>Kkrf ljjph

++

H? kk ljj ,iFBGNM> MH <HO>K :BK<K:?M NIMH sjF BG HO>K:EE E>G@MA :G= rF BG?NL>E:@> PB=MAh

v ?M>K <HG?BKFBG@ MA:M MA> NI@K:=>=?:<BEBMB>L P>K> BG <HFIEB:G<> PBMA MA><HKK>LIHG=BG@ ~xv/ K>JNBK>F>GMLf MA>vBKIHKM 2M:G=:K=L yBOBLBHG >G=HKL>=HG *NER of ljjp MA> K><E:LLB?B<:MBHG H?}+~v MH : xH=> { <:I:;E> :>KH=KHF>?HK MA> :>KH=KHF> EB<>G<> BLLN>= MH MA>vv}+h

vI:KM ?KHF MA> :BK?B>E= NI@K:=BG@ PHKDLf?:<BEBMB>L :M MPH :BK<K:?M I:KDBG@ LM:G=LfG:F> ER .pj :G= .pl A:= ;>>G

>GA:G<>=h3A> PHKDL BG<EN=>= FH=B?RBG@MA> HNM>K :BK;KB=@> MH K>:<A MA> vmrjNII>K =><D :G= BGLM:EE BG@ :==BMBHG:E@KHNG= ?:<BEBMB>L MH L>KO> MA> .,vh

3A> MPH KHNM> IKHOBG@ ?E B@AML A:O>=>FHGLMK:M>= MA> ?E B@AM HI>K:MBHGL<:I:;B E B MR H? vmrjh 3A>R A:O> :ELHIKHOB=>= MA> HIIHKMNGBMR ?HK @:BGBG@O:EN:;E> >QI>KB>G<> ;R MA> vv}+ :G=HI>K:MHKL MAKHN@A I:KMB<BI:MBHG BG MA>HI>K:MBHG:E MKB:Eh6BMA BFIKHO>F>GM BGH I > K : M B H G : E I K H < > = N K > L : G =FH=B ? B<:M BHGL BG : BK<K: ? M L>K O B< BG@?:<BEBMB>Lf MA> }+~v BL ?NEER <HG?B=>GM BGLNIIHKMBG@ MA> ?NMNK> vmrj HI>K:MBHGLh

3A> >O>GM A:L F:KD>= MA> LN<<>LL H?<EHL> <HHI>K:MBHG ;>MP>>G K>@NE:MHK:G= HI>K:MHKL BG MA> <HGM BGNHNL>GA:G<>F>GM H? MA> :BKIHKM MH >F;K:<>MA> >O>K :=O:G<BG@ :OB:MBHG BG=NLMKRhvGvmrj :BK<K:?M PBEE EBD>ER <HF> MH }HG@+HG@ BG 2>IM>F;>K MA B L R>:K MHI:KMB< BI:M> BG MA> vLB:G v>KHLI:<>zQAB;BMBHG ljjq :G= MA> IHLLB;BEBMR H?:KK:G@BG@ : ?ERI:LM ;R MA> :BK<K:?M HO>K5B<MHKB: }:K;HNK BL ;>BG@ >QIEHK>=h ~?MA> :KK:G@>F>GM BL LN<<>LL?NE f MA>@>G>K:E IN;EB< PBEE ;> :;E> MH L>> : L<>G>H? : @B:GM ?ERBG@ F:<ABG> I:LLBG@ ;R :CNG@E> H? AB@A KBL>Lh ~LGbM MA:M PHG=>K?NEu

9H=Q}LzBZUYOS}+v3xv xNI ljjqIw,l8F:2zBS/0L<L3m;R -K ~L::< 6HG@ f 5B<> 0K>L B=>GM f }+v3x vLLH<B:M BHG

a0Si*f+2?@?:O|LUNNR0Si*f+2?@?jM|`tupAgco5UZt4lAC1pzivN7>0SB@2a^B5Xi*B0Sebi*DkoinAY?gdB:1zi1pC

b?M}RtE]iuu59?2:Tx`{A12H4~WxfBbK[}AInD,93//qYA@6pk6C=EC

~8PQ@*2zyB2^z|vmpkA*22|TDgDkxB11@:C0C:V~6>_};V*X?PX~QtAvVC0b@AGJC~@|PpIN0ztfAXPsaN0~uV/zC

12:<^>C0AI*2zn4DBoA-~qpk]P5Xi*zv^CpPANahi*f+2?:kHpm|kGIla>ngm*2z|5Xi*zCf3~*VJo*2zKEUNNR0Si*2?@?jG

v ?HHM;:EE MHNKG:F>GM HK@:GBL>= ;R MA>}HG@ +HG@ v B K 3K : ? ? B < xHG M KH EvLLH<B:MBHG c}+v3xvd P:L A>E= HG

-:R lph v MHM:E H? LBQ M>:FL BG<EN=BG@MA> v B KIHKM vNMAHKBMR }HG@ +HG@ fx:MA:R 0:<B? B< v BKP:RL f }HG@ +HG@zQIK>LLf 0xx6 :G= MPH HMA>K M>:FLK>IK>L>GMBG@ v3x I:KMB<BI:M>= BG MA>MHNKG:F>GMh

~M P:L HNK AHGHK MH A:O> MA> yBK><MHKg|>G>K:E H? xBOBE vOB:MBHGf -K .HKF:G,Hf MH H??B<B:M> MA> DB<DgH??h vEMAHN@AMA> P>:MA>K P:L >QMK>F>ER AHM :G=ANFB=f :EE IE:R>KL @:O> MA>BK ;>LM >??HKM:G= MA> F:M<A>L P>K> >Q<BMBG@ :G=>GCHR:;E> h

}HP>O>Kf MPH H? HNK IE:R>KLf -K 3>K>G<>.@ :G= -K 0:MKB<D ,:F H? MA> vBK 3K:??B<-:G:@>F>GM y BO BL BHG f P>K> BGCNK>==NKBG@ MA> E:LM @KHNI F:M<A :@:BGLM MA>

vBKIHKM vNMAHKBMRh 3A>R <HEEB=>= PBMA>:<A HMA>K PA>G CNFI>= MH A>:= MA>;:EE :P:R ?KHF MA> @H:Eh wHMA H? MA>FP>K> ;E>>=BG@ :G= MA>R P>K> :MM>G=>=;R 2 M h *HAG vF;N E:G<> ? B K L M : B =BFF>=B:M>ER :M MA> L<>G> ;>?HK> MA>:F;NE:G<> :KKBO>=h

y>LIBM> MA> EHLL H? MPH D>R IE:R>KLf MA>v3x M>:F <:F> MHI H? MA> @KHNI :G=PHG MA> <A:FIBHGLABI F:M<A :@:BGLMx:MA:R 0:<B?B< vBKP:RLh3A> v<MBG@ xAB>?c3K:BGBG@ :G= zO:EN:MBHGdf -K 0ABEBI ,>>fIK>L>GM>= MA> xA:FIBHGLABI :G= MA>{ BKLM 1NGG>KgNI 3KHIAB>L MH MA> v3xM>:F :G= x0v K>LI><MBO>ERh /G<> :@:BGfP> PHNE= EBD> MH <HG@K:MNE:M> :EE MA>IE:R>KL ?KHF }HG@ +HG@ v3x BG PBGGBG@MA> }+v3xv xNI ljjq]

:<^>TDgHUI<kxB~vmpk@:C0C3PH D>R IE:R>KL -K 3>K>G<> .@ cE>?Md :G= -K0:MKB<D ,:F P>K> BGCNK>= =NKBG@ MA> @KHNIF:M<Ah

*2?0zFNahi*f+2?:kHpm|kGIla>0^Jh=ygjC3A> v3x M>:F K><>BO>= MA> xA:FIBHGLABI3KHIAR ?KHF -K 0AB E BI ,>> f v<M BG@ xAB>?c3K:BGBG@ :G= zO:EN:MBHGdh