/VN_Report_web_1 by Center for Disease Dynamics, Economics & Policy

6,78$7,21 $1$/<6,6 $QWLELRWLF 8VH DQG 5HVLVWDQFH LQ 9LHWQDP 7KH *$53 9LHWQDP 1DWLRQDO :RUNLQJ *URXS 'U 1JX\̎Q 9úQ .tQK &KDLUPDQ 2FWREHU

' ZWͲ sŝĞƚŶĂŵ EĂƟŽŶĂů tŽƌŬŝŶŐ 'ƌŽƵƉ !"#$%&'()&'*+&,!"#$%$!"&'$%!"(')*+,)-!"%*+./01+"12"3)0*1-)4"5167*0)4"12"8+17*/)4"%*6.)6.6"9358%:!"5)-1* -#.&"'!"./'*,#%!"#$%$!"&'$%$!"%*+./01+"12"#.;*/)4"<.+=*/.6">;,*-*60+)0*1-!"#*-*60+?"12"5.)40' 01#.&"'2#./'3#.&"!"&')+,$!"&'$%$!"%*+./01+"12"%+@A">;,*-*60+)0*1-!"#*-*60+?"12"5.)40' -$'!"./'*+&,!"#$%$!"&'$%!"#.;*/)4"<.+=*/.6">;,*-*60+)0*1-!"#*-*60+?"12"5.)40' !".'0,+'4+/,'5)ǡ Ǥǡ Ǥ Ǥǡ ϐ ǡ ǡ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

' ZWͲ sŝĞƚŶĂŵ ^ƚĂī 5%+8)&'=%1;,%+8!"#$%$!"&'$%$!"L>J&DC*.0-),"(1@-0+?"<@7.+=*61+!"KB21+;"G-*=.+6*0?"(4*-*/)4"J.6.)+/'"G-*0" 9.'0,+'0,#$'!")!"&')+,$!"#$</$!"L>J&DC*.0-),"(1@-0+?"(11+;*-)01+!"KB21+;"G-*=.+6*0?"(4*-*/)4"J.6.)+/'"G-*0

W ' ZW ^ĞĐƌĞƚĂƌŝĂƚ >)8)&)&'-)?8+&)1)$)&!"&'$%$"#&5!"L>J&"&+*-/*7)4"M-=.60*A)01+!"<.-*1+"H.441N")-;"%*+./01+!"(.-0.+"21+"%*6D .)6."%?-),*/6!"O/1-1,*/6")-;"&14*/? 5%@@%&'A%@<)&BC'65D!"&+1A+),"H.441N")-;"<0@;?"(11+;*-)01+!"(.-0.+"21+"%*6.)6."%?-),*/6!"O/1-1,*/6")-;" &14*/?

!"#$%&'(&)'*+%*+, !"#$%"#&'(!"#$%&'()*$+,*$-.*/))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))* +,$-./*0$(1.223#4))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))0* 5)(637*-(8$39/:(3;&(+-";"2*-(5;&*-3/"#7)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))< !"!"#$%&'()*+&,(%""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""! !"-"#.&'*+&*'/#(0#&1/#2/34&1+3'/#.56&/7""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""8 !"8"#$%0/+&,(%#9(%&'(4""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""": !";"#<*')/%#(0#=,6/36/"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""> 55)(=;/*>*"/*-(1.??94(@:3*;(3;&(A3;3B$2$;/)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))<C -"!"#?/@34#A'37/B('C#(0#D%&,E,(&,+#=,6F/%6,%@"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!-"-"#.*FF45#913,%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!; -"8"#G3&&/'%6#(0#D%&,E,(&,+#H6/#0('#G3'&,+*43'#9(%),&,(%6""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!I -";"#$%3FF'(F',3&/#D%&,E,(&,+#H6/""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!: -"J#$%+/%&,K/#.&'*+&*'/"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!> -"I#D%&,E,(&,+#H63@/#G3&&/'%6#,%#2*73%6""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!> -":"#2(6F,&34#D%&,E,(&,+#LMF/%),&*'/#=3&3"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-N -">"#D%&,E,(&,+#O/6,6&3%+/#.*'K/,443%+/""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-! -"P"#D%&,E,(&,+#H6/#,%#D@',+*4&*'34#D%,7346#3%)#G43%&6#""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-555)(D#$9*2*;3#4(=77$772$;/'(D"9*-4(3;&(E$7$3#-:(F?/*";7)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))CG 8"!"#G'/4,7,%3'5#D66/667/%&""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-; 8"8"#O/6/3'+1#QFF('&*%,&,/6""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-J E$H$#$;-$7)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))CI J*7/("H(K3>9$7))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))LL J*7/("H(!*B.#$7))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))LL =??$;&*,(=))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))LG =??$;&*,(6))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))LM

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Ǥ ǡ Ǧ ϐ N ϐ ϐ Ǥ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

ƌ͘ EŐƵǇĞŶ sĂŶ <ŝŶŚ !"#$%&#'()*')+,"#-.)*.)/",)0123)4)5$,/'#&)6#/$*'#-)7*%8$'9)0%*:;

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

12%34+56%&7488".9

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

!:%&;$'#"$&<.'#$%8&'(&=*+5#5'+53&>%,5,+"*3% ǡ Ǥ ϐ Ǧ 3;/*>*"/*-7(3#$(39#$3&4("H(9*//9$(.7$(*;(23;4(-*#-.27/3;-$7)((^$%$#(3;/*>*"/*-7(3#$(2"#$($,?$;7*0$'(3;&(;"%( $0$;(7"2$(937/N#$7"#/(3;/*>*"/*-7(3#$(9"7*;B(/:$*#($HH$-/*0$;$77)(E$-$;/($0*&$;-$(*7(/:$(7?#$3&("H(-3#>3?$;$2N #$7*7/3;/(>3-/$#*3(T;&2N<U(*;(7$0$#39(-".;/#*$7(*;(=7*3(3;&(+.#"?$)((J*S$("/:$#(7:3#$&(#$7".#-$7'(/:$($HH$-/*0$N ;$77( "H( 3;/*>*"/*-7( 7:".9&( >$( 0*$%$&( 37( 3( ?#$-*".7( -"22"&*/4'( /"( >$( ?#"/$-/$&( 3;&( 039.$&'( ;"/( 7`.3;&$#$&( /:#".B:(.;;$-$773#4(.7$)(K:$(B"39(*7(/:3/(3;/*>*"/*-7(>$(.7$&(";94(H"#(>3-/$#*39(*;H$-/*";7(/:3/(;$$&(/"(>$(-.#$&( >4(3;/*>*"/*-7)(

=*+5#5'+53&>%,5,+"*3%&5*&?5%+*"8 Ȉ(Y*$/;32(39#$3&4($,?$#*$;-$7(:*B:(9$0$97("H(3;/*>*"/*-(#$7*7/3;-$)(5;(#$-$;/(4$3#7'(*;&*0*&.39(7/.&N *$7(:30$(#$?"#/$&(/:$(H"99"%*;B[ Ȉ(Y*$/;32( :3&( /:$( :*B:$7/( ?#$039$;-$( "H( ?$;*-*99*;N#$7*7/3;/( Ta<)G( ?$#-$;/U( 3;&( $#4/:#"24-*;N #$7*7/3;/(T]C)<(?$#-$;/U(.&'/F&(+(++*6#F%/*7(%,3/P3(0$#4(-"22";(-3.7$("H(#$7?*#3/"#4(*;H$-N /*";7P"H( /:$( <<( -".;/#*$7( *;( /:$( =7*3;( ^$/%"#S( H"#( 1.#0$*993;-$( "H( E$7*7/3;/( D3/:"B$;7( T=^N 1FEDU(*;(C___bC__<) Ȉ(ac(?$#-$;/("H(?;$.2"-"--*(3#$(#$7*7/3;/(/"(/:#$$("#(2"#$(-9377$7("H(3;/*>*"/*-7) Ȉ(ca(?$#-$;/("H(/:$(732?9$7("H(3;"/:$#(-"22";(>3-/$#*39(?3/:"B$;'( ϔ ǡ(H#"2( -:*9&#$;(*;(83;"*(%$#$(#$7*7/3;/(/"(32?*-*99*;(*;(C___bC__<)((1*2*93#(#3/$7(%$#$(H".;&(*;(^:3( K#3;B)(

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

Ȉ(63-/$#*3(-.9/.#$&(H#"2(-:*9&#$;(%*/:(&*3##:$3(3#$(:*B:94(#$7*7/3;/)((5;(2"7/(-37$7'("#39(#$:4&#3N /*";(/:$#3?4(*7(/:$(>$7/(/#$3/2$;/(H"#(&*3##:$3'(4$/(";$N`.3#/$#("H(-:*9&#$;(:3&(>$$;(B*0$;(3;( 3;/*>*"/*-(>$H"#$(/:$4(B"/(/"(:"7?*/39) Ȉ(E$7*7/3;-$(*7(-"22";(32";B(B#32N;$B3/*0$(>3-/$#*3(T$;/$#">3-/$#*3-$3$U[((2"#$(/:3;(Cc(?$#N -$;/("H(*7"93/$7(/$7/$&(*;(3(8"(@:*(A*;:(@*/4(:"7?*/39(%$#$(#$7*7/3;/(/"(/:*#&NB$;$#3/*";(-$?:3N 9"7?"#*;7(*;(C___bC__<)((=(7/.&4(?.>9*7:$&(*;(C__](#$?"#/$&(/:3/(GC(?$#-$;/("H(B#32N;$B3/*0$( >3-/$#*3(%$#$(#$7*7/3;/(/"(-$H/3V*&*2$'(ML(?$#-$;/(/"(B$;/32*-*;'(3;&(aG(?$#-$;/(/"(;39*&*,*-(3-*&( *;(>"/:(/:$(:"7?*/39(3;&(/:$(-"22.;*/4) Ȉ(E$7*7/3;-$(*7(*;-#$37*;B)(5;(/:$($3#94(<]]_7(*;(8"(@:*(A*;:(@*/4'(I(?$#-$;/("H(?;$.2"-"--.7(*7"N 93/$7(%$#$(#$7*7/3;/(/"(?$;*-*99*;)((64(<]]]bC___'(/:*7(:3&(#*7$;(/"(cM(?$#-$;/)(1*2*93#(/#$;&7(%$#$( 7$$;(*;(;"#/:$#;(Y*$/;32) 6$-3.7$("H(/:$(:*B:(#3/$7("H(#$7*7/3;-$'(23;4(3;/*>*"/*-(#$B*2$;7(#$-"22$;&$&(*;(-.##$;/(/#$3/2$;/(B.*&$N 9*;$7(3#$(.;9*S$94(/"(>$($HH$-/*0$)((6$-3.7$(*;H$-/*".7(&*7$37$7(#$23*;(-"22";(*;(Y*$/;32'(3--$77(/"($HH$-/*0$( 3;/*>*"/*-7(*7($,/#$2$94(*2?"#/3;/)(K:$(*;-#$37*;B(#$7*7/3;-$(#3/$7(*;(Y*$/;32(3#$(;"%(d$"?3#&*V*;B(/:$("0$#399( $HH$-/*0$;$77("H(3;/*>*"/*-(/#$3/2$;/)(

0123415(67("892:2692;(,54(<8=("892:2692;(#45259<8;4 K:$(2"#$(3;/*>*"/*-7(3#$(.7$&'(/:$(2"#$(3;/*>*"/*-N#$7*7/3;/("#B3;*727(%*99(7?#$3&)((=;/*>*"/*-7(3#$("0$#N .7$&(>"/:(*;(/:$(-"22.;*/4P>4(?$"?9$(>.4*;B(3;/*>*"/*-7(3H/$#(7$9HN&*3B;"7*7("#(";(/:$(3&0*-$("H(3(:$39/:N-3#$( ?#"0*&$#P3;&(*;(/:$(:"7?*/39'(%:$#$(3;/*>*"/*-7(234(7.>7/*/./$(H"#(>$//$#(*;H$-/*";(-";/#"9'(>#"3&N7?$-/#.2( 3;/*>*"/*-7(234(>$(.7$&(*;7/$3&("H(;3##"%N7?$-/#.2(&#.B7'(3;&(?$"?9$(234(>$(B*0$;(;$%$#'($,?$;7*0$(>#3;&$&( ϐ Ǧ Ǥ 1"2$("H(/:$(#$37";7(H"#(*;3??#"?#*3/$94(:*B:(3;/*>*"/*-(.7$(*;(Y*$/;32(3#$(&*7-.77$&(>$9"%)(

0*$1/)$2344'*.1( 5'16376839:)1$ /),;1/69,")$ )<8)*=.1'")>#$ e7$#( H$$7( 3/( ?.>9*-( :"7?*/397'( :$39/:( *;7.#3;-$( 7-:$2$7'( /:$( -"22$#-*39*V3/*";("H(/:$(?:3#23-$./*-39(*;&.7/#4'(3;&(/:$(&$#$B.93/*";("H(/:$(#$/3*9(/#3&$(*;(&#.B7(:30$(9$&( ϐ Ǥ ǡ "./N"HN?"-S$/(:$39/:($,?$;&*/.#$7(37(3(?#"?"#/*";("H(/"/39(:$39/:($,?$;&*/.#$7)(K:$(:*B:("./N"HN?"-S$/($,?$;N &*/.#$7( $;-".#3B$( ?$"?9$( /"( >4?377( ?#"0*&$#7( 3;&( ?.#-:37$( &#.B7P*;-9.&*;B( 3;/*>*"/*-7P&*#$-/94'( %*/:"./( ?#"?$#(&*3B;"7*7)(K"/39(&#.B(739$7(:30$(;$3#94(/#*?9$&(*;(039.$(>$/%$$;(C__<(3;&(C__I'(H#"2(e1Xfc__(2*99*";( ̈́ͳǡͶͲͲ Ǥ ϐ ǡ ǡ 3;&(/:$4(3#$("H/$;(.7$&(*;3??#"?#*3/$94)( ?'"9/,>)>$@.1/3'1$8")>9".81.3*#$+0$;(/:".B:(?#$7-#*?/*";7(3#$(9$B3994(#$`.*#$&'(3;/*>*"/*-7(T3;&(3(%*&$( #3;B$("H("/:$#(&#.B7U(-3;(>$(?.#-:37$&(&*#$-/94(>4(-";7.2$#7(3/(?:3#23-*$7("#(&#.B("./9$/7)(1$9HN&*3B;"7*7(*7( ;"/(0$#4(3--.#3/$'(>./(7$9HN/#$3/2$;/(*7(0$#4(-"22";)((5;(3(-"22.;*/4N>37$&(7/.&4(.;&$#/3S$;(*;(C__a'(aI( ?$#-$;/("H(3;/*>*"/*-7(/3S$;(>4(/:$(7/.&4(?3#/*-*?3;/7(%$#$(?.#-:37$&(*;(?#*03/$(?:3#23-*$7(%*/:"./(?#$7-#*?N /*";7)((6.4*;B(&#.B7(&*#$-/94(*7(-:$3?$#(3;&(H37/$#(/:3;(B"*;B(/"(3(?#3-/*/*";$#) A,9:$37$:*3@;)=&)$,B3'1$,88"38".,1)$,*1.B.31.9$'>)#$=(C__a(7/.&4($039.3/$&(S;"%9$&B$(3>"./(3;/*>*N "/*-(.7$(*;(#.#39(Y*$/;32)((X$7?*/$(/:$($,*7/$;-$("H(B.*&$9*;$7'(S;"%9$&B$(3>"./(3;/*>*"/*-(.7$(%37(?""#'(3;&(

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

***

:$39/:N-3#$(?#"0*&$#7("H/$;(&*7?$;7$&(3;/*>*"/*-7(*;3??#"?#*3/$94'(H"#(-"22";(-"9&7(3;&(-".B:7)(K:$(/4?$'(&"7N 3B$'(3;&(&.#3/*";("H(/#$3/2$;/("H/$;(&*&(;"/(-"2?94(%*/:(/:$(B.*&$9*;$7(H"#(3;/*>*"/*-(.7$)

0*$C3>8.1,;> 0*,=)D',1)$.*7)91.3*$93*1"3;$,*=$3E)"9"3@=.*&#$O""&(*;H$-/*";(-";/#"9(*7($77$;/*39(/"(?#$0$;/(/:$(H.#N /:$#(7?#$3&("H(#$7*7/3;/(>3-/$#*3)(8"7?*/397(3#$("0$#-#"%&$&'(:"%$0$#'("H/$;(%*/:(2"#$(/:3;(";$(?3/*$;/(*;(3( >$&'(3;&(%37/$(23;3B$2$;/(*7(7.>"?/*239) A,9:$37$,=)D',1)$4.9"3B.3;3&($>)"E.9)>#$A"7/(:"7?*/397(&"(;"/(:30$(2*-#">*"9"B4(93>"#3/"#*$7)(+,*7/*;B( 93>"#3/"#*$7("?$#3/$(%*/:"./(#$`.*#$2$;/7(H"#(*;/$#;39(3;&($,/$#;39(`.39*/4(377$772$;/7)(Z$99N/#3*;$&(-9*;*-39( 2*-#">*"9"B*7/7(/"(*2?#"0$(93>"#3/"#4(`.39*/4(3#$(7-3#-$)(X3/3(";(#$7*7/3;-$(*;(Y*$/;32(-3;(/:$#$H"#$(;"/(>$( -";7*&$#$&(3--.#3/$) A,9:$37$)77)91.E)$="'&$,*=$1/)",8)'1.9>$9344.11))>#$5;(<]]a'(/:$(A"8(#$`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

0*$F&".9';1'") =;/*>*"/*-(.7$(*7(%*&$7?#$3&(*;(H3#2(3;*2397(3;&(3`.3-.9/.#$(H"#(B#"%/:(?#"2"/*";(3;&(*;H$-/*";(?#"?:4N 93,*7(3;&(/#$3/2$;/)((D*B7(3;&(?".9/#4(3#$(7.??9$2$;/$&(%*/:(/$/#3-4-9*;$(3;&(/49"7*;)((!3#2$&(7:#*2?'(-#3>7'( ϐ -".;/#*$7)((=7(3(#$7.9/'(3;/*>*"/*-(#$7*&.$7(3#$(-"22";94(H".;&(*;(93;&(3;&(7$3(3;*2397(#3*7$&(*;(Y*$/;32'(39N /:".B:(2"7/(9$0$97(3#$(%*/:*;(9$B39(9*2*/7(3;&(2"7/("H(/:$(#$7*&.$7(3#$("H(399"%$&(3;/*>*"/*-7)(( K:$#$(3#$("/:$#(7*B;7("H($,-$77*0$(3;/*>*"/*-(.7$)((F;$(7.#0$4(7:"%$&(/:3/(#3%(H""&7'(*;-9.&*;B(2$3/(3;&( ϐ ǡ Ǧ .347(%/443)((937F54(E3+&/'(*7"93/$&(H#"2(-:*-S$;7(:37( ?3#/*-.93#94(:*B:(9$0$97("H(#$7*7/3;-$[((]_(?$#-$;/("H(*7"93/$7(3#$(#$7*7/3;/(/"(;39*&*,*-(3-*&'(I](?$#-$;/(/"(/$/#3-4N ǡ ͺʹ ϐ Ǥ

;=><@?5%+*"8&>%,%".3: Ǧ ϐ ǡ Ǧ -.##$;/94(.;&$#/3S*;B(7$0$#39(?#"d$-/7[ <)(9'/3&,%@#3#6/%,('#F//'#%/&B('C#(%#3%&,E,(&,+#*6/#3%)#'/6,6&3%+/"(5;H"#23/*";N7:3#*;B(-:3;;$97( %*99(>$($7/3>9*7:$&(32";B(7$0$#39(9$3&*;B(:"7?*/397(*;(-"993>"#3/*";(%*/:(/:$(X#.B(=&2*;*7/#3/*";)( =??#",*23/$94( C_( :"7?*/397( %*99( 7.>2*/( &3/3( /"( A"8( #$B3#&*;B( 3;/*>*"/*-( .7$( 3;&( #$7*7/3;-$( *;( /:$*#(:"7?*/397'(3;&(#$B.93#(#$?"#/7(%*99(>$(*77.$&) C)(D66/66,%@#&1/#/+(%(7,+#E*')/%#(0#'/6,6&3%+/)(K:$(2"7/(?"%$#H.9(3#B.2$;/(H"#(?"9*-423S$#7(*7(

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

/:3/( #$7*7/3;-$( -"7/7( 2";$4'( %:$#$37( 3;/*>*"/*-( 7/$%3#&7:*?( 234( 730$( >"/:( 2";$4( 3;&( 9*0$7)( =( 7/.&4(%*99(377$77(-.##$;/(#$7*7/3;-$(9$0$97("H(-"22";(>3-/$#*3(-.9/.#$&(H#"2(>9""&(3;&(-$#$>#"N ϐ Ǥ >37$9*;$("H(3;/*>*"/*-(/#$3/2$;/(>$H"#$(/:$($2$#B$;-$("H(#$7*7/3;-$) L)( D66/66,%@# &1/# /+(%(7,+# ,%+/%&,K/6# 0('# 6/44,%@# 3%&,E,(&,+6# 3&# +(77*%,&5# F13'73+,/6"( ( g.$7/*";N ;3*#$7(3;&(&*#$-/(">7$#03/*";7("H(&#.B(7$99*;B(%*99(>$(-";&.-/$&(*;(<c(#.#39(3;&(<c(.#>3;(?:3#23N Ǥ ϐ Ǥ

A<<A>!BCD!D17&-A>&)AC!>AEEDC;&=C!DFDA!D)&>17D7!=C)1&

<'$539&'G+5'* "892:2692;5(<14(>145;12>9268(68?@(=1AB5C D<E4(<892:2692;5(>145;12>9268%68?@ D<E4(H65>29<?5I(=1AB(<8=(9H41<>4A92;5(;6JJ29944(47% 74;9234(

F59<:?25H(2874;9268%;68916?(;6JJ299445(28(H65>29<?5

+1<;E(8<9268<?(<892:2692;(145259<8;4

D682961(<892:2692;(A54(28(H65>29<?5

0434?6>(;A112;A?AJ(761(J4=2;<?(<8=(>H<1J<;@(5;H66?5 0434?6>(914<9J489(BA2=4?2845 F59<:?25H(>H<1J<;632B2?<8;4(;48941 O68=A;9(>A:?2;(4=A;<9268(;<J><2B8

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

=3+5'* 0434?6>(8<9268<?(<;9268(>?<8(761(<892:2692;(145259<8;4C F8761;4(;A11489(?<GC (QIRUFH UHTXLUHPHQW IRU FRPPLWWHHV GHÀQH WKHLU 7A8;92685(<8=(59<8=<1=5K(<8=(=434?6>(<A=29(J4;H<% 825J5C(!234(;6JJ299445(966?5(<8=(BA2=<8;4(68( <892:2692;(594G<1=5H2>C($1632=4(A>%96%=<94K(<;;A1<94( 145259<8;4(=<9<C *LYH FRPPLWWHHV VXIÀFLHQW UHVRXUFHV WR FDUU\ RXW 9H421(<;92329245(<8=(2J>1634(2871<591A;9A14C(F59<:?25H( 59<8=<1=2L4=(28=2;<9615(96(J682961(>16B1455K(5A;H(<5( H65>29<?%<;MA214=(2874;9268(1<945(:@(=4><19J489(<8=( H<8=%G<5H28B(;6J>?2<8;4C 0434?6>(8<9268<?(945928B(<8=(MA<?29@(;68916?(BA2=4?2845C( NA8=(145259<8;4(945928BK(MA<?29@(;68916?K(91<2828BK(<8=( 14>61928BC(*55A4(<88A<?(8<9268<?(14>619(68(:69H(<892:2% 692;(A54(<8=(145259<8;4C( )9<8=<1=2L4(<892:2692;(A5<B4(28=2;<9615(96(289418<9268<?( XQLWV H J GHÀQHG GDLO\ GRVDJH SHU EHG GD\V *55A4(<88A<?(8<9268<?(14>619(68(:69H(<892:2692;(A54(<8=( 145259<8;4 +4<;H(<8=(91<28(>167455268<?5(68(<892:2692;(145259<8;4( <8=(<>>16>12<94(<892:2692;(A54C F85A14(92J4?@(<8=(432=48;4%:<54=(A>=<945(67(914<9% J489(BA2=4?2845(761(2874;926A5(=254<545C F8B<B4(>H<1J<;632B2?<8;4(;48941(28(;A1:28B(28<>>16% >12<94(<892:2692;(>145;12:28BC O14<94(<G<148455(<8=(4=A;<94(&2498<J454(>A:?2;( <:6A9(<>>16>12<94(<8=(28<>>16>12<94(<892:2692;(A54C

)49(A>(3<;;28<9268(>16B1<J5

F8H<8;4(?<:61<961@(;<><:2?29245

OA1:(<892:2692;(A54(28(<B12;A?9A14

";H2434(H2BH(3<;;28<9268(;6341<B4(761(;6JJA82;<:?4( =254<545(96(>143489(:<;9412<?(2874;92685(9H<9(14MA214( <892:2692;(914<9J489C F85A14(MA<?29@(?<:61<961@(945928BC(O6852=41(459<:?25H% LQJ QDWLRQDO UHIHUHQFH FHQWHU FHQWHU RI H[FHOOHQFH 761(<892:2692;(145259<8;4(945928BC(O14<94(849G61E(761( 5H<128B(=<9<K(BA2=4?2845K(<8=(4P>419254C F8761;4(;A11489(?<GC()49(A>(8<9268<?(<892:2692;(A54(<8=( 145259<8;4(5A1342??<8;4(5@594JC(*55A4(<88A<?(8<9268<?( 14>619(68(:69H(<892:2692;(A54(<8=(145259<8;4C(0434?6>( 14BA?<92685(68(<892:2692;(A54(:47614(H<1345928BC

ǯ ϐ O=EDNY^(#$?"#/'(/"(>$(-"2?9$/$&(*;(7?#*;B(C_<<)(D"9*-4("?/*";7P7"2$(2"#$(?#"2*7*;B(/:3;("/:$#7P3#$( 9*7/$&(>$9"%)(K:$(%"#S*;B(B#".?(%*99(377$77(/:$7$("?/*";7(>4($7/*23/*;B(/:$*#(-"7/7'(:.23;(#$7".#-$(3;&(/$-:N ;*-39(H$37*>*9*/4'(/*2$(H#32$(H"#(*2?9$2$;/3/*";'(3;&(9*S$94($HH$-/7(*;(Y*$/;32)((=(7:"#/(9*7/("H(/:$(2"7/(?#"2*7N *;B(?"9*-4("?/*";7(%*99(/:$;(>$(#$-"22$;&$&) ϐ Ǧ N :"9&$#7PB"0$#;2$;/'(?:3#23-*$7'(&"-/"#7'(-9*;*-7'(;";B"0$#;2$;/39(3B$;-*$7'(/:$(?:3#23-$./*-39(*;&.7/#4'( 3;&(?3/*$;/7)(Z$(3#$(399(#$7?";7*>9$(H"#(3&&#$77*;B(/:$(?#">9$2'(3;&(-";-$#/$&(3-/*";(*7(;$$&$&(/"(23*;/3*;(/:$( $HH$-/*0$;$77("H(3;/*>*"/*-7(%:*9$($;7.#*;B(3--$77(/"(/:$7$(9*H$N730*;B(&#.B7)

KŶ ďĞŚĂůĨ ŽĨ ƚŚĞ EĂƟŽŶĂů tŽƌŬŝŶŐ 'ƌŽƵƉ͕! !"#$%&'()&'*+&,-'.,)+/0)& ŝƌĞĐƚŽƌ EĂƟŽŶĂů ,ŽƐƉŝƚĂů ĨŽƌ dƌŽƉŝĐĂů ŝƐĞĂƐĞƐ! 1)&2+-'(+%3&)0

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

DH&F",53&I%"$+:&"*0&13'*'853&& D*053"+'., JHJH&D*+.'043+5'*

:*7("0$#0*$%("H(/:$(:$39/:(747/$2(*;(Y*$/;32( ?#"0*&$7( /:$( -";/$,/( *;( %:*-:( /"( 0*$%( /:$( 7*/.3/*";( "H( 3;/*>*"/*-( #$7*7/3;-$)( 5/( ?#$7$;/7( *;H"#23/*";( ";( /:$( >3-SB#".;&( "H( ;3/*";39( :$39/:( ?"9*-4'(/:$("#B3;*V3/*";("H(/:$(:$39/:-3#$(747/$2'(3;&( 3--$77(/"(:$39/:-3#$(3;&(&#.B7)((^3/*";39(:$39/:(3;&( &$2"B#3?:*-( *;&*-3/"#7( 3#$( 9*7/$&'( 3;&( /:$( >.#&$;( "H(23d"#(>3-/$#*39(-3.7$7("H(2"#>*&*/4(3;&(2"#/39*/4( ϐ Ǥ

Y*$/;32$7$(-:*9&#$;(:30$(B""&(3--$77(/"($&.-3N /*";'(#$7.9/*;B(*;(3(9*/$#3-4(#3/$("H(]_(?$#-$;/)(64(/:$( $;&("H(C__c'(I<(?$#-$;/("H(:".7$:"9&7(*;(/:$(-".;/#4( :3&( 3--$77( /"( $9$-/#*-*/4)( K:$( B"0$#;2$;/( 3*27( H"#( ]c( ?$#-$;/( "H( 399( :".7$:"9&7( /"( :30$( $9$-/#*-*/4( >4( C_<_<)(5;(C_<_(*/(*7($,?$-/$&(/:3/(Ic(?$#-$;/("H(/:$( ?"?.93/*";(%*99(:30$(3--$77(/"(-9$3;(%3/$#)(8"%$0$#'( ?#"B#$77( ";( *2?#"0$&( 73;*/3/*";( :37( >$$;( 79"%$#( 3;&( /:$( C_<_( /3#B$/( "H( a_( ?$#-$;/( *7( .;9*S$94( /"( >$( 2$/C)(

-5K4.%&JL&?5%+*"8&

&RXQWU\ 3URÀOH DQG 'HPRJUDSK% 2;()29A<9268 K:$( 1"-*39*7/( E$?.>9*-( "H( Y*$/;32( *7( 7*/.3/$&( ";( /:$( 5;&"-:*;3( D$;*;7.93'( >"#&$#*;B( @:*;3'( J3"7'( 3;&(@32>"&*3(T!*B.#$(<U)(Y*$/;32(*7(3??#",*23/$94( LL<'___(S2h(*;(3#$3'(%:*-:(*7(-9"7$(/"(/:$(7*V$("H(O$#N 23;4)( Z*/:(3(?"?.93/*";("H(2"#$(/:3;(II(2*99*";'(Y*$/N ;32(*7(/:$(<L/:(2"7/(?"?.9".7(-".;/#4(*;(/:$(%"#9&'( %*/:(3(?"?.93/*";(&$;7*/4("H(3??#",*23/$94(CMciS2C)( K:$(2$&*3;(3B$(*7(3(#$93/*0$94(4".;B(Ca(4$3#7'(-"2N ?3#$&(/"(L]bG<(4$3#7(*;(+.#"?$)(D"?.93/*";(B#"%/:( :37( &$-#$37$&( *;( /:$( ?37/( C_( 4$3#7'( ;"%( 30$#3B*;B( <)]I(>*#/:7(?$#(%"23;(TK3>9$(<U)(=??#",*23/$94(CI( ?$#-$;/("H(/:$(?"?.93/*";(9*0$7(*;(.#>3;(3#$37'(%*/:( 3;(3;;.39(.#>3;*V3/*";(#3/$("H(L)<(?$#-$;/(?$#(4$3#)< Z*/:(3(?"?.93/*";("H(2"#$(/:3;(II(2*99*";'(Y*$/N ;32(*7(/:$(<L/:(2"7/(?"?.9".7(-".;/#4(*;(/:$(%"#9&'( %*/:(3(?"?.93/*";(&$;7*/4("H(3??#",*23/$94(CMciS2C)( K:$(2$&*3;(3B$(*7(3(#$93/*0$94(4".;B(Ca(4$3#7'(-"2N ?3#$&(/"(L](N(G<(4$3#7(*;(+.#"?$)(D"?.93/*";(B#"%/:( :37( &$-#$37$&( *;( /:$( ?37/( C_( 4$3#7'( ;"%( 30$#3B*;B( <)]I(>*#/:7(?$#(%"23;(TK3>9$(<U)(=??#",*23/$94(CI( ?$#-$;/("H(/:$(?"?.93/*";(9*0$7(*;(.#>3;(3#$37'(%*/:( 3;(3;;.39(.#>3;*V3/*";(#3/$("H(L)<(?$#-$;/(?$#(4$3#)

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

=*:%>,?)@#;);%*A$B,B)+C)DE!2E()&#B,)+C)1%>0F=)G*./H#%,

(FRQRPLF 3HUIRUPDQFH ( <8=($63419@(*8;2=48;4C 5;(/:$(?37/(&$-3&$'(Y*$/;32(:37(>$$;(";$("H(/:$( %"#9&W7( >$7/( ?$#H"#2*;B( $-";"2*$7)( K:$( #$39( B#"77(

&"2$7/*-(?#"&.-/(TOXDU(B#$%(3;(30$#3B$("H(a)L(?$#N -$;/(?$#(4$3#(3;&(?$#(-3?*/3(*;-"2$(#"7$(>4(M)C(?$#N -$;/( ?$#( 4$3#( &.#*;B( <]]cNC__c)( K:$( $-";"24( :37( ?#"0$;(#$7*9*$;/(/"(7:"-S7(3;&(;$B3/*0$(*2?3-/7(9*S$( ϐ Ǥ ?$#(-3?*/3(#"7$(H#"2(CM_(e1X(*;(<]]c(/"(ILc(e1X(*;( C__a)(=/(/:*7(?3-$(Y*$/;32(*7(3;/*-*?3/$&(/"(3-:*$0$( 3;(30$#3B$(3;;.39(*;-"2$(?$#(-3?*/3("H(<'___(e1X(*;( C_<_'(23S*;B(Y*$/;32(3(2*&&9$(*;-"2$(-".;/#4L)

?$#(<__'___(>*#/:7(*;(C__c'(%:$;(-"2?3#$&(/"(7"2$( ;$*B:>"#*;B(-".;/#*$7'(7.-:(37(@32>"&*3(%:$#$(23N /$#;39(2"#/39*/4(%37(cG_(?$#(<__'___(>*#/:7(*;(C__GM)

-5K4.%&ML&?5%+*"8&G'6%.+9&8"G

Y*$/;32(*7(/#3;7*/*";*;B(H#"2(3(#.#39(/"(3;(*;&.7N /#*39($-";"24)(6$/%$$;(<]]c(3;&(C__c'(/:$(7:3#$("H( /:$(3B#*-.9/.#39(7$-/"#(*;(/:$(OXD(&$-9*;$&(H#"2(Ca( ?$#-$;/(/"(C<(?$#-$;/'(%:*9$(/:3/("H(*;&.7/#*39(7$-/"#( #"7$(H#"2(C](?$#-$;/(/"(G<(?$#-$;/)((5;(C__a'(Y*$/;32( >$-32$(3(2$2>$#("H(/:$(Z"#9&(K#3&$(F#B3;*V3/*";)( Y*$/;32(:37(397"(>$$;(7.--$77H.9(*;(#$&.-*;B(?"0N $#/4)(K:$(B$;$#39(?"0$#/4(#3/$(H$99(H#"2(cI)<(?$#-$;/( *;(<]]L(/"(CC(?$#-$;/(*;(C__a)(K:$(:*B:(B#"%/:(#3/$( 3;&( #3?*&( ?"0$#/4( #$&.-/*";( :37( -"2$( %*/:( 3( 2"&N $7/(*;-#$37$(*;(*;$`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c( :30$( 39N #$3&4( >$$;( 3-:*$0$&'( *;-9.&*;B( ?"0$#/4( 3;&( :.;B$#( #$&.-/*";)(

.H\ +HDOWK ,QGLFDWRUV J*H$($,?$-/3;-4(*7(:*B:(-"2?3#$&(/"("/:$#(&$0$9N "?*;B(;3/*";7'(%*/:(-.##$;/($7/*23/$7(3/(M](4$3#7(H"#( 239$7( 3;&( aG( 4$3#7( H"#( H$239$7'( %:*-:( *7( 7*2*93#( /"( /:3/("H(6#3V*9(3;&(O#$$-$)(F0$#399(2"#>*&*/4(3;&(2"#N /39*/4(:30$(&$-#$37$&(32";B(0.9;$#3>9$(B#".?7(7.-:( Ǥ Ǧϐ N /39*/4(:37(&$-#$37$&(>4(2"#$(/:3;(:39H'(H#"2(cI(?$#( <___(9*0$(>*#/:7(*;(<]]_(/"(Cc(?$#(<'___(9*0$(>*#/:7( *;(C__Ic)(A3/$#;39(2"#/39*/4(*7(#$93/*0$94(9"%(3/(<c_(

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

=*:%>,?)3*A,%/C)#'B)I**B)=,%>:%$/C)@#;J

F/:$#(S$4(*;&*-3/"#7("H(-:*9&(:$39/:(*;-9.&$(03-N -*;3/*";( -"0$#3B$( 3;&( 239;./#*/*";)( K:$( Y*$/;32N $7$( B"0$#;2$;/( H.;&7( II( ?$#-$;/( "H( /:$( +,?3;&$&( D#"B#32( ";( 522.;*V3/*";( T+D5U( #$-"22$;&$&( 03--*;$7)(=7(3(#$7.9/'(]_(?$#-$;/("H(Y*$/;32$7$(-:*9N &#$;(#$-$*0$(/:$(#$-"22$;&$&(03--*;3/*";7'(*;-9.&N

*;B(6@O'(XDK'(8$?6'(?"9*"'(3;&(2$379$7)(Y3--*;3/*";( 3B3*;7/( ϔ 6( T8*>U( 7/3#/$&( *;( C__])(Y3--*;3/*";(-"0$#3B$(*7(9"%$#(*;(?""#$#(3;&(#$N 2"/$(3#$37a)(K:$(?;$.2"-"--39(03--*;$(*7(;"/(7-:$&N .9$&( /"( >$( *;/#"&.-$&( /:#".B:( +D5( 3;&( *7( -.##$;/94( ";94(303*93>9$(-"22$#-*3994(*;(Y*$/;32) A39;./#*/*";(*7(3;"/:$#(*2?"#/3;/(:$39/:(*;&*-3N /"#)( F;$( "H( /:$( AXO7( %37( /"( #$&.-$( :.;B$#( >4( :39H( >$H"#$( C_<c( 3;&( /:*7( %37( 3-:*$0$&( >$H"#$( C__M( *;( Y*$/;32)(1*2*93#(/"("/:$#(*;&*-3/"#7'(239;./#*/*";(*7( 2"#$(-"22";(*;(/:$(#$2"/$(3#$37'(%:$#$(?"0$#/4(*7( 2"#$( ?#$039$;/( 3;&( /:$( $/:;*-( 2*;"#*/*$7( 9*0$)( K:$( B"0$#;2$;/(3-S;"%9$&B$7(/:3/(2"#$(7:".9&(>$(&";$( /"(*2?#"0$(9*0*;B(-";&*/*";7(3;&(:$39/:(*;(/:$(#$2"/$( 3#$3.

!"#$%&JL&N%9&0%6%$'G8%*+&"*0&:%"$+:&5*05@ 3"+'.,&?5%+*"8 D*053"+'. 3RSXODWLRQ PLOOLRQV

3RS JURZWK UDWH

8UEDQL]DWLRQ UDWH

.274(4P>4;9<8;@(( PDOH IHPDOH

*'3 SHU FDSLWD 333 86

*87<89(J619<?29@(1<94( SHU

D<9418<?(J619<?29@(1<926( SHU OLYH ELUWKV

$63419@(1<94(( G

";;455(96(;?4<8(( ZDWHU

$FFHVV WR VDQLWDWLRQ

$GXOW OLWHUDF\ UDWH

O%".

C48#%. QRCST

( =*:%>,G?)7*%-B)K#'8()!F1)7*%-B)I#>/+**8()E6F!LI)5$,/'#&M() N()O

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

JHMH&7+.43+4.%&'(&+:%&I%"$+:3".%& 79,+%8 ,QWURGXFWLRQ Ǧϐ ǡ ǯ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

G,9.;.1.)> 5;( 7?*/$( "H( 3( #3?*&94( $,?3;&*;B( ?#*03/$( :$39/:N -3#$(7$-/"#'(/:$(?.>9*-(7$-/"#(#$23*;7(37(/:$(23*;(#$N 7".#-$( H"#( ?#$0$;/*";'( #$7$3#-:( 3;&( /#3*;*;B)( K:$#$( 3#$(]M<(93#B$(:"7?*/397(*;(Y*$/;32'("H(%:*-:(G<(3#$( ;3/*";39(T"#(-$;/#39U(:"7?*/397'(3;&(/:$(#$23*;*;B(3#$( ?#"0*;-*39( 9$0$9( :"7?*/397)( A"7/( ;3/*";39( :"7?*/397( 3#$(9"-3/$&(*;(/:$(-3?*/39'(83;"*)(=/(/:$((#$B*";39(9$0$9( /:$#$(3#$(M_](&*7/#*-/(:"7?*/397(3;&(<_'IMM(-"22.N ;*/4(:$39/:(-$;/$#7(*;(-"22.;$7<C)(@"22.;$(:$39/:( -$;/$#7( 3;&( #$B*";39( ?"94-9*;*-7( 3#$( #$7?";7*>9$( H"#(

-5K4.%&PL&I%"$+:&3".%&,9,+%8JJ

=*:%>,?)P":#'()6<P<()Q*.9%,'()!<()Q$'B"*-&()Q<)R)!":>()6<P<)!"*$>,)*.)",#-/">#%,);%*A$B,%).*--*H$'9)%,.*%&)$')5$,/'#&<)K@!)S,#-/") =,%A)2,G)N()TMU)VUWWNX<

?#*23#4( :$39/:( -3#$( &$9*0$#4( 3;&'( $,-$?/( H"#( $2$#N ǡ ϐ :$39/:(-3#$(747/$2)(K:$7$(?#*23#4(-3#$(H3-*9*/*$7(?#"N 0*&$( ?#$0$;/*0$( 3;&( -.#3/*0$( 7$#0*-$7( 3;&( #$H$#( ?3N /*$;/7(/"(93#B$#(-$;/$#7(H"#(3&03;-$&(&*3B;"7/*-(3;&( /:$#3?$./*-( 7$#0*-$7)( K:$( -"22.;$( :$39/:( 7/3/*";7( 3#$(23;3B$&(>4(/:$(X*7/#*-/(8$39/:(@$;/$#7)( 5;(C__I'(/:$(A"8($7/*23/$&(/:$(30$#3B$(>$&("-N -.?3;-4( #3/$( 3-#"77( 399( 9$0$97( "H( ?.>9*-( :"7?*/397( 3/( <CI)cC( ?$#-$;/( 3-#"77( -$;/$#( :"7?*/397( 3;&( <CM)MM( ?$#-$;/(3-#"77(?#"0*;-*39(:"7?*/397)(K:*7(#3/$(-3;(*;N -#$37$(/"("0$#(C__(?$#-$;/(*;(7"2$(-$;/$#(:"7?*/397( &.#*;B( *;H$-/*".7( &*7$37$( "./>#$3S7)( !"#( *;7/3;-$'( /:$(>$&("--.?3;-4(#3/$(#$3-:$&(CIc?$#-$;/(*;(@:*9N &#$;W7( 8"7?*/39( ^.2>$#( <( *;( 8"( @:*( A*;:( @*/4<L)(( F0$#-#"%&*;B("H(?.>9*-(:"7?*/397(*7(";$("H(/:$(23d"#( ?#">9$27( 3-#"77( /:$( Y*$/;32$7$( :$39/:-3#$( 747/$2( 37(2"#$(?3/*$;/7(3#$(7$$S*;B(>"/:(*;?3/*$;/(3;&("./N ?3/*$;/(-3#$(H#"2(?.>9*-(:"7?*/397(*;7/$3&("H(/:$*#(9"N -39(2$&*-39(7/3/*";7)(=(7/.&4("H(CcIa(?3/*$;/7(-3##*$&( "./(H#"2(C__<(/"(C__M(3-#"77(M(:"7?*/397(*;(8"(@:*( A*;:(@*/4(*;0$7/*B3/$&(/:$(#$37";7(H"#(:"7?*/39("0$#N .7$)(5/(/.#;$&("./(/:3/(23;4(?3/*$;/7(%*/:(-"22";(

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

*99;$77$7(%$#$(B"*;B(/"(/:$("./?3/*$;/(-9*;*-7("H(7?$N -*39*V$&(:"7?*/397(TGGPIc)<(?$#-$;/U(*;7/$3&("H(7$$SN *;B(?#*23#4(:$39/:(-3#$(TMa)a(?$#-$;/U)(A"7/("H(/:$2( %$#$( /#3;7H$##$&( H#"2( ?#"0*;-*39( :"7?*/397( TIc)c( ?$#-$;/U( 9$3&*;B( /"( 3;( *;-#$37$( "H( >$&( "--.?3;-4( #3/$( T<_a)IjP<L_)_jU( 3;&( "./N?3/*$;/( /#$3/2$;/( /3#B$/(T<<G)GP<Gc(?$#-$;/U)((Z*/:(/:*7(%"#S9"3&'(3( &"-/"#(234(:30$(/"($,32*;$(c_(/"(<__(?3/*$;/7(?$#( ǡ ϐ -3#$<G) X*3B;"7/*-(/$7/*;B(H3-*9*/*$7(3#$(9*2*/$&(*;(#$B*";N 39N9$0$9(:$39/:(-3#$(-$;/$#7(3;&("H/$;'(?3/*$;/7(:30$( ?34( H"#( &*3B;"7/*-( /$7/7)( 8"7?*/397( .7.3994( ?#$H$#( /"( ϐ ǡ ϐ /:$4( #$`.*#$( $,?$;7*0$( $`.*?2$;/( 3;&( *;H#37/#.-N /.#$)(K:$(:*B:(%"#S(9"3&(3;&(93-S("H(&*3B;"7/*-(/$7/N *;B( 3#$( -";7*&$#$&( H3-/"#7( 9$3&*;B( /"( /:$( H#$`.$;/( 3;&(*;3??#"?#*3/$(?#$7-#*>*;B("H(3;/*>*"/*-7)( 1*;-$(/:$(23#S$/(#$H"#27(*;(<]IM'(;$3#94(a_(?#*N 03/$( :"7?*/397'( L_'___( ?#*03/$( -9*;*-7'( 3;&( C<'M__( ?#*03/$( ?:3#23-*$7( 3;&( &*7/#*>./"#7( :30$( >$$;( $7N /3>9*7:$&<c)((K:$(>$&("--.?3;-4(#3/$(*;(?#*03/$(:"7N

?*/397(%37(Ma)I(?$#-$;/(*;(C__M(3;&(aG)a(?$#-$;/(*;( C__a'(3--"#&*;B(/"(3;(*;0$;/"#4("H(399(aL<(:"7?*/397( *;( /:$( -".;/#4( -";&.-/$&( >4( /:$( A"8( A$&*-39( 1$#N 0*-$(=&2*;*7/#3/*";<c)((K:$(;.2>$#("H(*;?3/*$;/(0*7*/7( /#$3/$&(*;(?#*03/$(:"7?*/397(3--".;/$&(H"#(3(#$93/*0$94( 72399(7:3#$("H(/"/39(*;?3/*$;/7(*;(399(9$0$97("H(?.>9*-( :"7?*/397k(*/(3--".;/$&(H"#((<)](?$#-$;/(*;(C__M(3;&( C)C(?$#-$;/(*;(C__aU<c)(

C'4,*$H)>3'"9)> K:$#$(*7(3(7:"#/3B$("H(/#3*;$&(7/3HH(*;(/:$(:$39/:N -3#$(7$-/"#(%*/:(3(9"%(;.#7$N/"N&"-/"#(#3/*"'(3(93-S("H( 7?$-*39*7/7( 3;&( /#3*;$&( 23;3B$#7'( 3;&( 23;4( 03-3;N -*$7(*;(#.#39(3;&(#$2"/$(3#$37(T1$$(K3>9$(CU<M)(1.-:( 7-3#-*/4( "H( :$39/:-3#$( %"#S$#7( *7( ?3#/*-.93#94( 3-./$( *;(#$2"/$(3#$37(-"2?3#$&(/"(>*B(-*/*$7)((K:$(#3/$("H( :$39/:(-3#$(7/3HH7(%*/:(.;*0$#7*/4(&$B#$$7(*7(G)L(&"-N /"#7(?$#(<_'___(*;:3>*/3;/7(3;&(_)C(?:3#23-*7/7(?$#( <_'___(*;:3>*/3;/7(*;(/:$(A$S";B(&$9/3<a)(5;(-";/#37/( ϐ N 7";;$9( *;( /:$( >*B( -*/*$7'( .?( /"( ]( &"-/"#7( ?$#( <_'___( *;:3>*/3;/7<I)(=--"#&*;B(/"(/:$(A*;*7/#4("H(8$39/:'(*;( C__](Y*$/;32(:37(<)c(?:3#23-*7/7(?$#(<_'___(*;:3>N */3;/7(%*/:(cC(?$#-$;/("H(7.-:(?:3#23-*7/7(-";-$;N /#3/$&(*;(/%"(>*B(-*/*$7(T8"(@:*(A*;:(@*/4(3;&(83;"*U'( *;/$;7*H4*;B((/:$(7:"#/3B$("H(%$99N$&.-3/$&(?:3#23N -$./*-39(%"#SH"#-$(*;(#$2"/$(3#$37<])(

!"#$%&ML&I%"$+:&3".%&/'.Q&('.3%&(.'8& MRRS@MRRTJU& )"+%K'.5%, V%053"$&,+"(( D4=2;<?(06;9615(<8=( H2BH41( "55259<89(=6;9615 'A1545( D2=G2345 +4;H82;2<85 +1<=29268<?(J4=2;284( >1<;929268415 06;9615(>41(( LQKDELWDQW

MRRS

MRRT

SCQQ

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

<:".8"3%4+53"$& ,+"(( $H<1J<;259(<8=(H2BH41 "55259<89($H<1J<;259( DQG QG GHJUHH WHFK% 82;2<85 F?4J489<1@(>H<1J<% ;259 $H<1J<;259(>41( LQKDELWDQW

=*:%>,?)S,#-/")=/#/$G/$>G)Y,#%+**8)UWWN)V@$'$G/%C)*.)S,#-/"X

G.*,*9.*& 1*;-$(/:$(23#S$/(#$H"#27'(/:$(:$39/:-3#$(747/$2( :37(B$;$#3/$&(2.9/*?9$(H.;&*;B(7".#-$7)((X.$(/"((9*2N ϐ -3#$(2"#$(3--$77*>9$'(/:$(B"0$#;2$;/(:3&(&$-*&$&(/"( *2?9$2$;/(7$0$#39(2$37.#$7'(*;-9.&*;B(/:$(*;/#"&.-N /*";("H(.7$#(H$$7(3/(?.>9*-(:"7?*/397'(:$39/:(*;7.#3;-$( 7-:$2$7'(9$B39*V3/*";("H(/:$(?:3#23-$./*-39(*;&.7/#4'( 3;&(&$#$B.93/*";("H(/:$(#$/3*9(/#3&$(*;(&#.B7<_)(K:$7$( ϐ `.39*/4'( 303*93>*9*/4( 3;&( 3--$77*>*9*/4( "H( :$39/:-3#$( 7$#0*-$7( *;( Y*$/;32)( 8"%$0$#'( 7.-:( 2$37.#$7( :30$( 397"(9$&(/"(3;(*;-#$37$(*;("./N"HN?"-S$/(:$39/:($,?$;N &*/.#$7(37(3(?#"?"#/*";("H(/"/39(:$39/:($,?$;&*/.#$7) 8$39/:(7?$;&*;B(*;(Y*$/;32(:37(*;-#$37$&(7*;-$( /:$(#$H"#27(3;&(*/(3--".;/$&(H"#(3??#",*23/$94(cNM( ?$#-$;/("H(OXD(*;(C__c<c)(K:*7(*7(#$93/*0$94(:*B:(-"2N ?3#$&(/"("/:$#(-".;/#*$7(*;(/:$(#$B*";'(7.-:(37(@:*;3'( %:$#$(:$39/:-3#$(7?$;&*;B(3--".;/7(H"#(c(?$#-$;/U'( 3;&(K:3*93;&'(%:$#$(*/(3--".;/7(H"#(G(?$#-$;/C_)(K:$( B"0$#;2$;/(-";/#*>./$&(L<?$#-$;/("H(/"/39(:$39/:($,N ?$;&*/.#$7(*;(C__M'(%:*-:(*7(9"%(-"2?3#$&(/"("/:$#( 9"%N(3;&(2*&&9$N*;-"2$(-".;/#*$7'(%:*-:((30$#3B$&( 3>"./(3(Gc(?$#-$;/(B"0$#;2$;/(7:3#$("H(/"/39(:$39/:( $,?$;&*/.#$<c)( !"#( /:$( 732$( 4$3#'( "./N"HN?"-S$/( $,N ?$;&*/.#$7(*;(Y*$/;32(3--".;/$&(H"#(M<(?$#-$;/(3;&( /:$(#$23*;*;B(I(?$#-$;/(-32$(H#"2(;";NB"0$#;2$;/( ȋϐ ͶȌC<)( F./b"HN?"-S$/( $,?$;&*N ϐ /"("/:$#(&$0$9"?*;B(-".;/#*$7(*;(/:$(#$B*";'(7.-:(37(

@:*;3(TL](?$#-$;/U(3;&(A39347*3(TGc(?$#-$;/U<c)

-5K4.%&WL&)'8G',5+5'*&'(&+'+"$&:%"$+:&%2@ G%*05+4.%&MRRUJS

=*:%>,?)@$'$G/%C)*.)S,#-/"()6#/$*'#-)S,#-/")1>>*:'/G)) UWWWZUWWM)VS#'*$()UWWNX

C),;1/$0*>'",*9) 64(/:$($;&("H(C__a'(3??#",*23/$94(GC(?$#-$;/("H( /:$(/"/39(?"?.93/*";(%37(-"0$#$&(>4(:$39/:(*;7.#3;-$( T/3>9$(LU)(K:$(B"0$#;2$;/(#.;7(/:$(:$39/:(*;7.#3;-$( 747/$2( 3;&( ?#"0*&$7( H#$$( :$39/:( *;7.#3;-$( T85U( /"(

0.9;$#3>9$(B#".?7'(7.-:(37(/:$(?""#(3;&(?$;7*";$#7)( 8$39/:( *;7.#3;-$( -"0$#7( /:$( -"7/( ( 3/( 3( ( 9"-39( :$39/:( 7/3/*";(%:$#$(3(?$#7";(*7(#$B*7/$#$&(>./(?$"?9$(;$$&( ?$#2*77*";( /"( B$/( *;7.#$&( -3#$( 3/( 3( :"7?*/39( "#( 3/( 3( :$39/:(7/3/*";("./7*&$(/:$*#("%;(-"22.;$CC)(((1.-:( :$39/:( *;7.#3;-$( ";94( -"0$#7( L_( ?$#-$;/( /"( a_( ?$#N -$;/("H(/"/39(-"7/'(&$?$;&*;B(";(/:$(9$0$9("H(/:$(:"7N ?*/39)( 1*;-$(C__c'(:$39/:-3#$(:37(>$$;(?#"0*&$&(H#$$("H( -:3#B$(H"#(-:*9&#$;(.;&$#(/:$(3B$("H(M(%:*9$(:$39/:( *;7.#3;-$(*7(-"2?.97"#4(H"#(%3B$($3#;$#7)(K:$(-"2N ?.97"#4( :$39/:( *;7.#3;-$( ?#$2*.2( *7( 3>"./( L( ?$#N -$;/( "H( /:$( >37$( 7393#4'( "H( %:*-:( <( ?$#-$;/( *7( ( ?3*&( >4($2?9"4$$(3;&(/:$(#$23*;*;B(C(?$#-$;/(*7(?3*&(>4( /:$($2?9"4$#<c)(!"#("/:$#7'(:$39/:(*;7.#3;-$(*7(0"9.;N /3#4(3;&($`.*039$;/(/"(L(?$#-$;/("H(B$;$#39(2*;*2.2( 7393#4(H"#(?$"?9$(%:"(3#$(;"/(7393#*$&)(D3/*$;/7(:30$( /"( ?34( C_( ?$#-$;/( -"N?342$;/( "H( :$39/:( -3#$( -"7/7'( >./(/:$(-"N?342$;/(*7($9*2*;3/$&(*H("./N?3/*$;/(-3#$( -"7/7(9$77(/:3;(<__'___(Y^X(?$#(0*7*/(3;&(9$77(/:3;( C__'___(Y^X(H"#(*;N?3/*$;/(-3#$CC)(!"#(:*B:(-"7/(2$&N *-39(7$#0*-$7'(/:$(/"/39(32".;/(-"0$#$&(>4(:$39/:(*;N 7.#3;-$( -3;;"/( $,-$$&( C_'___'___( Y^X<c)( =9/:".B:( :$39/:(*;7.#3;-$(?"9*-*$7(:30$(>$$;(*2?9$2$;/$&(*;( 7"2$(?#*03/$(:"7?*/397'((/:$(B"0$#;2$;/(-"0$#7(MG)c( ?$#-$;/("H(/:$(/"/39(:$39/:(*;7.#3;-$(>.&B$/<c)(

$FFHVV WR +HDOWKFDUH DQG 'UXJV Y*$/;32(:37(3(;3/*";39(;$/%"#S("H(-"22.;$N9$0N $9(:$39/:(7/3/*";7(%*/:(3/(9$37/(";$(2$&*-39(7/3HH(2$2N >$#)(E$2"/$(3#$37(234(:30$(2"#$(:$39/:(7/3/*";7(/"( #$&.-$( /#30$9( /*2$( 37( /:$7$( 3#$37( :30$( ?""#( #"3&7( 3;&(/#3;7?"#/3/*";)((K:$(?""#(3;&(/:"7$(%*/:(:$39/:(

!"#$%&PL&C48#%.&'(&I%"$+:&D*,4."*3%&8%8#%.,&*"+5'*/50%X&MRRS@MRRYJS

O6J>A?561@

'68%>661 $661

&6?A89<1@ +69<?

MRRS D4J:41

MRRY D4J:41

=*:%>,?)=*:%>,?)@$'$G/%C)*.)S,#-/"()6#/$*'#-)S,#-/")1>>*:'/G)UWWWZUWWM)VS#'*$()UWWNX

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

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c'C_M( Y^X( H"#(?#*03/$(?#"0*&$#7'(3;&(]c'a]c(Y^X(H"#(?.>9*-(?#"N 0*&$#7)(K:*7(&*7-#$?3;-4(*;(-"7/($,?93*;7(/:$(?#$H$#N $;-$(H"#(7$9HN2$&*-3/*";(%:*-:(#$7.9/7(*;(23;4(-37$7( "H( *;3??#"?#*3/$( &#.B( .7$)( 1$9HN/#$3/2$;/( %*/:( ?#$N 7-#*?/*";( &#.B7( *7( ?"77*>9$( >$-3.7$( ?:3#23-$./*-39( #$B.93/*";7( ?#":*>*/*;B( /:$( 739$( "H( 23;4( &#.B7( T*;N -9.&*;B( 3;/*>*"/*-7U( %*/:"./( 3( ?#$7-#*?/*";( 3#$( ;"/( $;H"#-$&<_)(

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`.*#$&( *;H$-/*";7'( $;0*#";2$;/39( -9$3;*;B'( %37/$( 23;3B$N 2$;/'( H""&( 73H$/4'( 93.;&#4'( 3;&( -"#?7$( :3;&9*;B)( =;( *2?9$2$;/3/*";(%"#S*;B(B#".?(:37(>$$;($7/3>9*7:$&( /"( -#$3/$( ;3/*";39( "?$#3/*;B( ?#"-$&.#$7( /"( *2?9$N 2$;/( /:$( B.*&$9*;$)( K:$( B.*&$9*;$( #$`.*#$7( 7.#0$*9N 93;-$("H(:"7?*/39N3-`.*#$&(*;H$-/*";7(*;(399(:$39/:-3#$( H3-*9*/*$7)( !.#/:$#2"#$'( Y*$/;32( :37( 7.??"#/$&( /:$( Z8F(O9">39(D3/*$;/(13H$/4(@:399$;B$'(Q@9$3;(@3#$(*7(

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

13H$#(@3#$R(7*;-$(C__])( =(#$-$;/(7/.&4(*;(;"#/:$#;(Y*$/;32(-"2?3#$&(/:$( #$7.9/7("H(/%"(7.#0$47(-";&.-/$&(*;(C__c(3;&(C__a( /"(7/.&4(;"7"-"2*39(*;H$-/*";(-";/#"9((3-#"77(c<(:"7N ?*/397Cc)(5/(%37(H".;&(/:3/(-$;/#39(:"7?*/397(*;(83;"*( 7:"%$&(2"7/(*2?#"0$2$;/(%:*9$(2"7/(&*7/#*-/(:"7N ?*/397(:3&(*;H$-/*";(-";/#"9(-"22*//$$7(>4(C__a'(>./( %$#$(-";7/#3*;$&(>4(9*2*/$&(#$7".#-$7)(J"-39(:"7?*N ϐ "??"#/.;*/*$7( H"#( H.#/:$#( /#3*;*;B)( !.#/:$#2"#$'( */( %37(;"/$&((/:3/(7$0$#39(B.*&$9*;$7(%$#$("./&3/$&(3;&( %$#$(*;3??#"?#*3/$(H"#(2"7/(:"7?*/397Cc) ( 1.--$77H.9( *2?9$2$;/3/*";( "H( *;H$-/*";( -";/#"9( ϐ N ;32( 3#$( "9&( 3;&( "0$#-#"%&$&( 3;&( /:$( 7/3HH7( :30$( :*B:(%"#S9"3&7)(6$&("--.?3;-4(#3/$7(-3;($,-$$&(<__( ?$#-$;/(%:*-:(2$3;7(2"#$(/:3;(";$(?$#7";("--.?*$7( 3(:"7?*/39(>$&)(K:*7("--.#7(#$B.93#94(&.#*;B(-"22.N ;*-3>9$( &*7$37$( "./>#$3S7( 9*S$( -:"9$#3'( &$;B.$'( "#( ϐ Ǥ ǡ N *;B(-3#$("H(/:$(?3/*$;/(>4(>#*;B*;B(H""&'(H$$&*;B'(3;&( -9$3;*;B'(9$3&*;B(/"($0$;(2"#$(-#"%&$&(-";&*/*";7) =(7/.&4(%37(-";&.-/$&(/"(">7$#0$(:3;&(:4B*$;$( -"2?9*3;-$( 32";B( :$39/:-3#$( %"#S$#7( *;( C]( -9*;*N -39( &$?3#/2$;/7'( *;-9.&*;B( 7.#B$#4'( ">7/$/#*-7'( 3;&( $2$#B$;-4(3/(<(-$;/$#(:"7?*/39(3;&(I(?#"0*;-*39(:"7N ?*/397(*;(^"#/:(Y*$/;32)((!"#/4(?$#-$;/("H(/:$(%"#SN $#7(%$#$(3%3#$("H(/:$(>37*-7("H(:3;&(:4B*$;$(>./(/:$( "0$#399(-"2?9*3;-$(%37(";94(<L)G(?$#-$;/'(%*/:(<a)a( ?$#-$;/(-"2?9*3;-$(*;((-$;/$#(:"7?*/397(3;&(<_)a(?$#N -$;/( -"2?9*3;-$( *;( ?#"0*;-*39( :"7?*/397Ca)( =;"/:$#( 7/.&4( -";&.-/$&( 3/( 7$0$#39( :"7?*/397( *;( ;"#/:( Y*$/N ;32(/:$(7/3;&3#&("H(:3;&(%37:*;B(H3-*9*/*$7(%37(9"%'( %*/:(3(93-S("H(303*93>*9*/4("H(-9$3;*;B(?#"&.-/7(7.-:( 37(%3/$#'(7"3?'(3;&(%*?$7Ca)(K:*7(7/.&4(397"(?"*;/$&( "./(/:3/(3>"./(";$N/:*#&("H(/:$(:"7?*/397(*;(/:$(7/.&4( 2$/(/:$(7/3;&3#&(#$`.*#$2$;/(H"#(:3;&(%37:*;B(7/3N /*";7Ca)(=--"#&*;B(/"(3(7/.&4(-";&.-/$&(>4(Z8F'(9$77( /:3;(G_(?$#-$;/("H(?3/*$;/(#""27(:30$(3(:3;&(%37:N *;B(7*;SCI)( D#"?$#(%37/$(23;3B$2$;/(*7(3(23d"#(?#">9$2(*;( Y*$/;32$7$(:"7?*/397)(=(7/.&4(-";&.-/$&(*;(<C(:"7N ?*/397(3-#"77(;"#/:$#;(Y*$/;32(*;(C__M(#$0$39$&(/:3/( :"7?*/39(%37/$(%3/$#(%37(&*7-:3#B$&(&*#$-/94(*;/"(/:$(

ϐ C]Ǥ ϐ %37( &.2?$&( >$7*&$( 7/#$327( 3;&( :"7?*/39( B#".;&7( 397"( &*7?934$&( ?""#( 73;*/3#4( -";&*/*";7( %*/:( *;3?N ?#"?#*3/$(&*7?"739("H(.7$&(74#*;B$7L_)(5/(%37(#$?"#/$&( /:3/( :"7?*/397( *;( 8"( @:*( A*;:( @*/4( 3#$( &*7-:3#B*;B( 3>"./(<G'___(-.>*-(2$/$#7("H(.;/#$3/$&(%37/$%3/$#( *;/"(?.>9*-(7$%$#7(3;&(#*0$#7($0$#4(&34L<)(

JHWH&F4.0%*&'(&Z5,%",% Y*$/;32( :37( 3( #$93/*0$94( :*B:( >.#&$;( "H( *;H$-N /*".7(&*7$37$7'(*;-9.&*;B(3(93#B$(?"#/*";("H(>3-/$#*39( &*7$37$7'(?"/$;/*3994(/#$3/3>9$(%*/:(3;/*>*"/*-7)((K:*7( 7$-/*";(#$0*$%7(/:$(>.#&$;("H(&*7$37$(*;(Y*$/;32(3;&( 3&&#$77$7(/:$(23*;(>3-/$#*39(3B$;/7("H(-"22";(:"7N ?*/39(3;&(-"22.;*/4N3-`.*#$&(*;H$-/*";7)(

1DWLRQDO ,QGLFDWRUV A"#/39*/4(*7(3;(*2?"#/3;/(*;&*-3/"#(H"#(2$37.#*;B( 3( -".;/#4W7( :$39/:( 3;&( &$0$9"?2$;/)( Z:*9$( &$3/:7( H#"2(*;H$-/*".7(&*7$37$7(3#$(7/*99(#$93/*0$94(-"22";'( Y*$/;32(*7(397"(>$B*;;*;B(/"($,?$#*$;-$(:*B:$#(#3/$7( "H(&$3/:(H#"2(-3#&*"037-.93#(&*7$37$'(3(7*B;("H(3(/#3;N 7*/*";39($-";"24(3;&(?"?.93/*";LC)(

7DEOH 7RS ÀYH FDXVHV RI PRUWDOLW\ LQ ?5%+*"8JM& )"4,%&'(&8'.+"$5+9 *891<;1<82<?(28VA1@(( WUDXPDWLF EUDLQ LQMXU\

+XPDQ ,PPXQRGHÀFLHQF\ 9LUXV +,9

$84AJ682< *891<;414:1<?(H4J611H<B4 +1<85>619(<;;2=489 ";A94(J@6;<1=2<?(( 287<1;9268

D*350%*3%&& SHU LQKDELWDQWV

( =*:%>,?)S,#-/")=/#/$G/$>G)Y,#%+**8)UWWN)V@$'$G/%C)*.)S,#-/"X

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

%XUGHQ RI %DFWHULDO 'LVHDVHV 5;H$-/*".7( &*7$37$7( #$23*;( -"22";( *;( Y*$/;32'( >./(&3/3(3#$(;"/(-"99$-/$&(#"./*;$94(&"-.2$;/*;B($*N /:$#( 2"#>*&*/4( "#( 2"#/39*/4)( A"7/( &3/3( 3#$( &$#*0$&( Ǧ ϐ ǡ Ǧ 23d"#*/4("H(*99;$77$7(3;&(&$3/:7("--.#("./7*&$(/:$7$( :"7?*/397)(^$0$#/:$9$77'($0$;(7.-:(9*2*/$&(&3/3(H#"2( :"7?*/39( >37$&( 7/.&*$7( ?#"0*&$( *;7*B:/( *;/"( /:$( *2N ?3-/( 3;&( $?*&$2*"9"B4( "H( >3-/$#*39( &*7$37$7( #$`.*#N *;B(3;/*>*"/*-(/#$3/2$;/)(

I'"=)*$37$+,99.*)$?")E)*1,B;)$!.>),>)> E$-$;/($7/*23/$7(H#"2(e^5@+!(7.BB$7/(/:3/(.&'/FR &(+(++*6#F%/*7(%,3/#3--".;/7(H"#(2"#$(/:3;(:39H("H( 399( -:*9&:""&( &$3/:7( &.$( /"( ?;$.2";*3( $3-:( 4$3#( %"#9&%*&$)(K:$($7/*23/$&(*;-*&$;-$(#3/$("H(*;037*0$( ?;$.2"-"--39( &*7$37$( T5DXU( %37( GI)a( ?$#( <__'___( -:*9&#$;(&.#*;B(C__cNC__M(*;(\:3;:(8"3(D#"0*;-$LL)(( FH(/:$(/"/39($;#"99$&(-:*9&#$;'(M](?$#-$;/(%$#$(:"7?*N /39*V$&(H"#(?;$.2"-"--39(?;$.2";*3(3;&(<<(?$#-$;/( H"#(?;$.2"-"--39(2$;*;B*/*7LL)(."#F%/*7(%,3/(TLc)I( ?$#-$;/U( %37( /:$( 2"7/( -"22";94( *7"93/$&( >3-/$#*3( H#"2( -:*9&#$;( .;&$#( c( 4$3#7( "H( 3B$( 3&2*//$&( %*/:( 3-./$( #$7?*#3/"#4( *;H$-/*";7( /"( 13*;/( D3.9( :"7?*/39( *;( 83;"*( &.#*;B( C__LLG)( K:$#$( *7( ;"( ";B"*;B( ?"?.N 93/*";N>37$&( 7.#0$*993;-$( H"#( 5DX( 3;&( /:$#$( 3#$( ;"( ?93;7(/"(*;/#"&.-$(?;$.2"-"--39(03--*;$(*;(Y*$/;32)( D#*"#(/"(/:$(*;/#"&.-/*";("H(#"./*;$(-:*9&:""&(*2N 2.;*V3/*";( %*/:( -";d.B3/$( ϔ &5F/#E#T8*>U(03--*;$'(*/(%37($7/*23/$&(/:3/(/:$#$(%$#$( M__'___(&$3/:7(&.$(/"(8*>(*;H$-/*";(%"#9&%*&$($3-:( 4$3#Lc)( 5;( Y*$/;32'( /:$#$( %$#$( 3/( 9$37/( c'<_a( :"7?*N /39*V3/*";7( %*/:( Ǥ ϔ ( ?;$.2";*3( ?$#( 4$3#( 32";B(-:*9&#$;(.;&$#(c(4$3#7("H(3B$(?#*"#(/"(*;/#"N &.-/*";( "H( 03--*;$7LM)( =( 7/.&4( 7:"%$&( /:3/( 8*>( :37( /:$(7$-";&(:*B:$7/(*;-*&$;-$(#3/$(TCC)](?$#(<__'___U( "H( *;037*0$( >3-/$#*39( &*7$37$( 32";B( -:*9&#$;( .;&$#( /:$(3B$("H(cLLǤ Ǧ ϐ H"#(8*>(&*7$37$(%37(:*B:$7/(32";B(*;H3;/7(TIa)](?$#( <__'___( *;H3;/7U( 3;&( 32";B( -:*9&#$;( 3B$&( C( 4$3#7( TLC)](?$#(<__'___(-:*9&#$;ULL)( =;( $?*&$2*"9"B*-39( 7/.&4( "H( 8*>N377"-*3/$&( *;N 037*0$(2$;*;B*/*7(*;(83;"*(&.#*;B(C___NC__C(H".;&(

/:3/( /:$( $7/*23/$&( *;-*&$;-$( "H( 8*>( 2$;*;B*/*7( %37( <C( ?$#( <__'___( 32";B( -:*9&#$;( .;&$#( /:$( 3B$( "H( c( 4$3#7(3;&(CM(?$#(<__'___(32";B(-:*9&#$;(.;&$#(/:$( 3B$( "H( C( 4$3#7LM)( A$;*;B*/*7( &.$( /"( 8*>( *;H$-/*";( *;( -:*9&#$;(9$77(/:3;(C(4$3#7("H(3B$(3--".;/$&(H"#(IIN]G( ?$#-$;/("H(/"/39(>3-/$#*39(2$;*;B*/*7(*;(-:*9&#$;(.;N &$#(c(4$3#7("H(3B$Lc)(=(7/.&4(-";&.-/$&(";(-:*9&#$;( %*/:(2$;*;B*/*7(3&2*//$&(/"(/:$(^3/*";39(8"7?*/39("H( D$&*3/#*-7( >$/%$$;( C__<( 3;&( C__c( 7:"%$&( /:3/( CG( ย ย ย ย ย ย ย ศ อณอดอปศ อทอดอปศ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ฯ ย ย ย ย ศ ศ TH#"2(7?*;39(/3?7U(732?9$7(%$#$(8*>(?"7*/*0$(>4(-.9N /.#$'("H(%:*-:(c])a(?$#-$;/(Taai<C]U(%$#$(#$7*7/3;/( /"(32",*-*99*;La)(K:$(*;-*&$;-$("H(8*>(&*7$37$(#$?"#/N $&(*;(/:*7(7/.&4(%37(CC)](-37$7(?$#(<__'___(-:*9&#$;'( :*B:$#(/:3;(/:$(#$?"#/$&(*;-*&$;-$("H(<C(T*;(83;"*U( /"(<I(T*;(Y*$/;32("0$#399U(?$#(<__'___(*;(/%"("/:$#( 3;3947$7LL)((5/(*7($,?$-/$&(/:3/(/:$(#$-$;/(*;/#"&.-/*";( ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ฯ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย N &$;-$("H(/:*7(*;037*0$(&*7$37$(*;(-:*9&#$;)( .347(%/443# &5F1,( %37( -"22";94( -.9/.#$&( H#"2( /:$(>9""&(H#"2(H$>#*9$(?3/*$;/7'(>./(;"%(03--*;3/*";( 3;&(*2?#"0$&(73;*/3/*";(:37(#$&.-$&(/:$(>.#&$;("H( ."&5F1,(&#37/*-3994)(Y*$/;32(:37(3&"?/$&(/:$(Y*(?"94N 73--:3#*&$(03--*;$(3B3*;7/(/4?:"*&(H$0$#(*;(:*B:N*;-*N &$;-$(3#$37'(H"#(-:*9&#$;(3B$&(L(/"(<_(4$3#7LI)

J)*.*&.1.> 5;( Y*$/;32$7$( -:*9&#$;( /:$( -3.7$7( "H( >3-/$#*39( 2$;*;B*/*7(3#$(23*;94( วค ย ย ฯ ย ย ย ย ย ย ย (3;&(."#F%/*7(%,R 3/(37(&$7-#*>$&(3>"0$)(5;(3&.9/7'(.&'/F&(+(++*6#6*,6(*7( /:$(2"7/(-"22";(-3.7$("H(>3-/$#*39(2$;*;B*/*7'(3-N -".;/*;B(H"#(CM(?$#-$;/("H(399(-.9/.#$(?"7*/*0$(2$;N *;B*/*7L])(."#6*,6(*7(3(?*B(>3-/$#*.2(/:3/(*7(/#3;72*//$&( /"(:.23;7(%:$;(?#"-$77*;B("#($3/*;B(.;-""S$&(?*B( ?#"&.-/7)( F/:$#( *2?"#/3;/( ?3/:"B$;7( 3#$( ."# F%/*R 7(%,3/(T<<)<(?$#-$;/U'(S"#7/%,%@,&,),6(TC)G(?$#-$;/U'( T4/E6,/443(7??)(TC)a(?$#-$;/U'(L"#+(4,#T<)I(?$#-$;/U'(3;&( ."#3*'/*6 ศ อฒวคอน ย ย ย ย ย ย ย ศ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ฯ ย ย ย ย ย ย ย T_)]( ?$#-$;/UL])( @$H/#*3,";$( *7( .7$&( H"#( /:$( $2?*#*-( /#$3/2$;/( "H( 2$;*;B*/*7( *;( Y*$/;32)( ^$3#94( 399P c_icc(T]_)](?$#-$;/U("H(."#F%/*7(%,3/#*7"93/$7P3#$( 7.7-$?/*>9$(/"(-$H/#*3,";$'(%*/:(/:$(#$23*;*;B(cicc( T])<(?$#-$;/U(:30*;B(*;/$#2$&*3/$(#$7*7/3;-$G_)

I,91)")4., 5;( ";$( -$;/#39( B$;$#39( :"7?*/39( *;( 83;"*'( I( ?$#N -$;/("H(399(>9""&(-.9/.#$7(7.>2*//$&(H"#(/$7/*;B(%$#$( ?"7*/*0$(H"#(>3-/$#$2*3(*;(C__]G<)(K:$(2"7/(-"22";( -.9/.#$&(2*-#"N"#B3;*727(%$#$(T"#F%/*7(%,3/(T<I)L( ?$#-$;/U'( L"# +(4,( T<a)M( ?$#-$;/U'( .&3F154(+(++*66# 3*R '/*6( T<<)]( ?$#-$;/U'( G6/*)(7(%36# 3/'*@,%(63( Tc)]( ?$#-$;/U(3;&(D+,%/&(E3+&/'#E3*73%%,,#TG)G(?$#-$;/U)( K:$( #3/$7( "H( 3;/*>*"/*-( #$7*7/3;-$( %$#$[( +16J( ?"7*N /*0$( T"# F%/*7(%,3/'# <M)C( ?$#-$;/k( +16J( ?"7*/*0$( L"# +(4,'( C<)c( ?$#-$;/( G<k( 3;&( 03;-"24-*;( *;/$#2$&*3/$( ."# 3*'/*6( TY51=U'( G( ?$#-$;/( GC)( K:$( -"22";( ?3/:"N B$;7( H#"2( >9""&( -.9/.#$( H#"2( 3;( *;H$-/*".7( &*7$37$( :"7?*/39(*;(83;"*(>$/%$$;(C__I(/"(C__](%$#$(L"#+(4,( T<])L(?$#-$;/U'(T"#F%/*7(%,3/#T<c)C(?$#-$;/U'(."#3*R '/*6(T<L)I(?$#-$;/U'(3;&#."#6*,6(T])a?$#-$;/UGL)(5;(8"( @:*( A*;:( @*/4'( /:$( 2"7/( -"22";94( -.9/.#$&( >3-/$N #*3(H#"2(>9""&(%$#$ วค ย ย ย ย วก วค ย ย ย ย ย '(T4/E6,/443(F%/*R 7(%,3/( 3;&( .&'/F&(+(++*6( 7??GG)( F/:$#( *2?"#/3;/( ?3/:"B$;7(-.9/.#$&(H#"2(>9""&(732?9$7(*;(Y*$/;32( 3#$(<*'C1(4)/',3#F6/*)(7344/,#T-3.7$("H(2$9*"*&"7*7U( 3;&(/:$(H.;B*(G/%,+,44,*7#73'%/00/,(3;&(9'5F&(+(++*6# %/(0('73%6#*;(85Y(?3/*$;/7)

F9'1)$H)>8.",13"($0*7)91.3*>$KFH0>L 5;(Y*$/;32'(=E57(3#$(32";B(/:$(93#B$7/(-";/#*>.N /"#7( /"( /:$( >.#&$;( "H( *;H$-/*".7( &*7$37$( 3;&( ?;$.N 2";*3( *7( /:$( 7$-";&( 2"7/( -"22";( -3.7$( "H( &$3/:( H#"2( *;H$-/*";7)( @"22.;$( :$39/:( 7/3/*";7( #$?"#/( /:3/( =E57( 3#$( /:$( 2"7/( -"22";( &*3B;"7*7( 3/( /:$*#( H3-*9*/*$7(3;&(/:$(2"7/(-"22";(#$37";(H"#(?#$7-#*>N *;B(3;/*>*"/*-7Gc)((A"7/(-37$7("H(=E5(3#$(-3.7$&(>4(0*N ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย วก ย ย ฯ ย ย ย ย ย ย วก ย ย ย "/:$#7(le;?.>9*7:$&(93>"#3/"#4(&3/3(Fe@Eem)(63-/$N #*39(#$7?*#3/"#4(?3/:"B$;7(*;-9.&$(1วค ย ย ย ย ย ย ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย '(3;&( ."#3*'/*6)(e;9*S$(&$0$9"?$&(-".;/#*$7'(T"#F%/*7(%,3/( *7( 3( -"22";( -3.7$( "H( 7$0$#$( -"22.;*/4N3-`.*#$&( ?;$.2";*3( 32";B( 3&.9/7( 5;( Y*$/;32( le;?.>9*7:$&( 93>"#3/"#4(&3/3(Fe@EeN^8KXm)

!.,""/),;$!.>),>)> K:$( >.#&$;( "H( &*3##:$39( &*7$37$( *;( Y*$/;32( :37(

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

&$-#$37$&(%*/:(*2?#"0$&(9*0*;B(7/3;&3#&7'($7?$-*3994( 3--$77( /"( -9$3;( %3/$#( 3;&( 73;*/3/*";)( X$7?*/$( /:*7'( /:$#$(:30$(>$$;(#$B.93#(-:"9$#3("./>#$3S7(*;(^"#/:( Y*$/;32( 7*;-$( C__aGM)( !#"2( A3#-:( C__<( /"( =?#*9( C__C'(cIa(-:*9&#$;(%:"(-32$(/"(3(:"7?*/39(*;(83;"*( %*/:(&*3##:$3(%$#$(/$7/$&(H"#(&*3##:$39(?3/:"B$;7Ga)( FH(/:$(-:*9&#$;(%:"(0*7*/$&(/:$(:"7?*/39'(Ma)L(?$#-$;/(( %$#$( &*3B;"7$&( %*/:( 3/( 9$37/( ";$( 0*#39( "#( >3-/$#*39( ?3/:"B$;'(*;-9.&*;B(#"/30*#.7(TGa(?$#-$;/U'(&*3##:$N 3B$;*-(L"#+(4,(TCL(?$#-$;/U'(.1,@/443(7??(Tc(?$#-$;/U'( 3;&($;/$#"/",*B$;*-(<3+&/'(,)/6#0'3@,4,6#Ta(?$#-$;/U)( ^"(.347(%/443#7??("#(U,E',(#+1(4/'3/#%$#$(*7"93/$&)( =( 93#B$( ?$#-$;/3B$( "H( L"# +(4,( 3;&( .1,@/443( 7??( %$#$( #$7*7/3;/( /"( 32?*-*99*;'( -:9"#32?:$;*-"9'( 3;&( /#*2N $/:"?#*2i7.9H32$/:",3V"9$(T-"N/#*2",3V"9$U)(L"#+(4,( *7"93/$7( %$#$( :*B:/94( #$7*7/3;/( /"( 3;/*>*"/*-7[( IM)G( ?$#-$;/(%$#$(#$7*7/3;/(/"(32?*-*99*;(T=ADU'(aa)C(?$#N -$;/( %$#$( #$7*7/3;/( /"( -:9"#32?:$;*-"9( T@8JU'( 3;&( II)L( ?$#-$;/( %$#$( #$7*7/3;/( /"( /#*2$/:"?#*2i7.9H3N 2$/:",3V"9$(T1nKU'(#$7?$-/*0$94)(^$3#94(I](?$#-$;/("H( /:$(.1,@/443(7/#3*;7(%$#$(#$7*7/3;/(/"(/#*2$/:"?#*2i 7.9H32$/:",3V"9$'( ac?$#-$;/( %$#$( #$7*7/3;/( /"( 32N ?*-*99*;'(3;&(cL)M(?$#-$;/(%$#$(#$7*7/3;/(/"(-:9"#32N ?:$;*-"9Ga)( K:$( -:*9&#$;( ?#$7$;/$&( %*/:( H$0$#( TGL)M( ?$#-$;/U'( 0"2*/*;B( TcL)I( ?$#-$;/U'( 3;&( &$:4&#3/*";( TIC)M( ?$#-$;/U)( <MC( "./( "H( cIa( TCa)M( ?$#-$;/U( -:*9N &#$;(:3&(>$$;(B*0$;(3;/*>*"/*-7($0$;(>$H"#$(7$$S*;B( :"7?*/39(-3#$)(A"7/("H(/:$(-:*9&#$;(*;(/:*7(7/.&4(%$#$( H#"2( ?""#( :".7$:"9&7( 9*0*;B( *;( .;:4B*$;*-( -";&*N /*";7Ga)

M)<',;;($N",*>4.11)=$0*7)91.3*>$KMN0L ϐ *;(<]]_'(/:$(;.2>$#("H(#$?"#/$&(85Y(*;H$-/*";7(3;&( =5X1(-37$7(B#$%(#3?*&94(*;(399(?#"0*;-$7GI)(@.2.93/*0$( #$?"#/$&(&3/3(37("H(L<(X$-$2>$#(C__I(%$#$(<a]'aLc( -37$7( "H( 85Y( 3;&( a<'<<]( -37$7( "H( =5X1<C)( Y*$/;32W7( 85Y($?*&$2*-(*7(7/*99(*;(3(-";-$;/#3/$&(?:37$(%*/:(/:$( :*B:$7/(7$#"N?#$039$;-$(#3/$(32";B(S$4(?"?.93/*";7( 3/(:*B:$#(#*7S'(*;-9.&*;B(*;d$-/*;B(&#.B(.7$#7(T5Xe7U'( H$239$( 7$,( %"#S$#7( T!1Z7U( 3;&( 2$;( %:"( :30$( 7$,( %*/:(2$;(TA1AUG])(K:$(?#$039$;-$(#3/$(*;(/:$("0$#399( ?"?.93/*";(*7($7/*23/$&(3/(_)cL(?$#-$;/G])(K:$#$(:30$( >$$;( 3( /"/39( "H( <c'__a( &$3/:7( &.$( /"( =5X1( *;( Y*$/N ;32G])(85Y($,*7/7(*;(399(ML(?#"0*;-$7i-*/*$7'(*;(]M(?$#N

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

-$;/("H(/:$(Mc](&*7/#*-/7(3;&(*;(2"#$(/:3;(/%"N/:*#&7( "H( /:$( <_'aLC( %3#&7i-"22.;$7G])( FH( 399( #$?"#/$&( 85Y(-37$7'(aI)](?$#-$;/(3#$(*;(/:$(3B$(B#".?(C_bL]'( %*/:( 239$7( 3--".;/*;B( H"#( Ic)C( ?$#-$;/G])( K:$( 3B$( B#".?("H(?$"?9$(9*0*;B(%*/:(85Y(*7(7:*H/*;B(/"(4".;B$#( ?$"?9$( 3;&( :$/$#"7$,.39( /#3;72*77*";( *7( >$-"2*;B( ϐ G]) 5;(3(#.#39(Y*$/;32$7$(7$//*;B(*;(C__a'(La(?$#-$;/( "H(7$,.39(3-/*0$(%"2$;(%$#$(&*3B;"7$&(%*/:(3(1KX( "#(#$?#"&.-/*0$(/#3-/(*;H$-/*";c_)(@"22";(*;H$-/*";7( %$#$( -3;&*&*37*7( TCM( ?$#-$;/U'( >3-/$#*39( 03B*;"7*7( T<<( ?$#-$;/U'( H"99"%$&( >4( :$?3/*/*7( 6( TI)L( ?$#-$;/U'( 914375),3# &'3+1(73&,6( TG)L( ?$#-$;/U'( V',+1(7(%36# K3@,%34,6( T<( ?$#-$;/U'( S/,66/',3# @(%(''1(/3/( T_)a( ?$#-$;/U'(3;&(B$;*/39(%3#/7(T_)C(?$#-$;/Uc_)(85Y(3;&( 74?:*9*7( %$#$( ;"/( &$/$-/$&)( 839H( ?$#-$;/( "H( /:$( 1K5( -37$7(%$#$(3742?/"23/*-(3;&(&*3B;"7*7("H(@:9324&N *3(%37(2"#$(-"22";(32";B(/:"7$("H(:*B:($-";"2*-( 7/3/.7c_)

C3>8.1,;$F9D'.")=$0*7)91.3*>$KCF0>L =/(?#$7$;/(/:$#$(3#$(;"(;3/*";39($7/*23/$7("H(/:$( #3/$7(3;&(>.#&$;("H(8=57(*;(Y*$/;32)(8"%$0$#'(;$%( B.*&$9*;$7( H#"2( /:$( A*;*7/#4( "H( 8$39/:( %*99( #$`.*#$( :$39/:(H3-*9*/*$7(/"(#$-"#&(8=57) 1$0$#39( 7/.&*$7( ";( 8=57( :30$( >$$;( -3##*$&( "./( *;( Y*$/;32'( 23*;94( 3/( 63-:( A3*( 3;&( @:"( E34( 8"7N ?*/397)( =/( 63-:( A3*( 8"7?*/39'( 7.#B*-39( 7*/$( *;H$-/*";7( T1157U(%$#$(377"-*3/$&(%*/:(*;-#$37$&(?"7/N"?$#3/*0$( 9$;B/:("H(7/34(3;&(&*#$-/(-"7/7)(K:$($,/#3(:"7?*/39(7/34( 3//#*>./3>9$(/"(1157(%37(I)C(&347(3;&(/:$($,-$77(&*N #$-/(-"7/7(%37(<<_(e1f(?$#(?3/*$;/c<)( 5;( 3( -#"77N7$-/*";39( 7/.&4( *;( LM( :"7?*/397( *;( /:$( ;"#/:( "H( Y*$/;32( *;( C__MbC__a( *;-9.&*;B( C( -$;/$#( :"7?*/397'(<a(?#"0*;-*39(:"7?*/397(3;&(<a(&*7/#*-/(:"7N ?*/397'(*/(%37(">7$#0$&(/:3/(ccL("./("H(a'ca<(Ta)I(?$#N -$;/U(?3/*$;/7(&$0$9"?$&(8=57Ca)(A"7/(-"22";(%$#$( ?;$.2";*3( TG<)]( ?$#-$;/U'( 1157( TCa)c( ?$#-$;/U'( 3;&( B37/#"N*;/$7/*;39(*;H$-/*";7(T<L)<(?$#-$;/U)(K:$(2"7/( -"22";94( *7"93/$&( 2*-#"N"#B3;*727( %$#$( G6/*)(R 7(%36#3/'*@,%(63(TL<)c(?$#-$;/U'(D+,%/&(E3+&/'#E3*R 73%,,(TCL)L(?$#-$;/U'(3;&(93%),)3#6FF#T<G)G(?$#-$;/U)( 8=57(%$#$(2"7/(-"22";(*;(?$&*3/#*-(.;*/7'(*;/$;7*0$( -3#$(.;*/7(3;&(7.#B*-39(%3#&7Ca)

K:$(?#$039$;-$(#3/$("H(8=57(%37(9"%'(c)](?$#-$;/'( *;( 63-:( A3*( 8"7?*/39( &.#*;B( C__M)( ( FH( 399( /:$( *;H$-N /*";7(&$/$-/$&(ac(?$#-$;/(%$#$(#$7?*#3/"#4(/#3-/(*;N H$-/*";7'( <_( ?$#-$;/( %$#$( .#*;3#4( /#3-/( *;H$-/*";7'( 3;&( c( ?$#-$;/( %$#$( &*B$7/*0$( /#3-/( *;H$-/*";7)( @"2N 2";( ?3/:"B$;7( %$#$( G"# 3/'*@,%(63( TCI)M( ?$#-$;/U)( D"# E3*73%,,( TCL)I( ?$#-$;/U'( T"# F%/*7(%,3/( T<](?$#N -$;/U( 3;&( 93%),)3# 7??( T<G)L( ?$#-$;/UcC)( =>"./( :39H( "H( /:$( ?3/*$;/7( .7$&( 3;/*>*"/*-7( >$H"#$( 3;( 8=5( %37( &*3B;"7$&cL)(=/(@:"(E34(8"7?*/39'(/:$(2"7/(-"22";( ?3/:"B$;7(-3.7*;B(8=57(%$#$(O#32(;$B3/*0$(>3-*99*'( *;-9.&*;B[(T"#F%/*7(%,3/(TCc(?$#-$;/U'(G"#3/'*@,%(63( TCG( ?$#-$;/U'# D"# E3*73%%,( T<I( ?$#-$;/U'( 3;&( L"+(4,( T<](?$#-$;/UcG)(."#3*'/*6(&"$7(;"/(7$$2(/"(>$(3(-"2N 2";(-3.7$("H(8=57(*;(Y*$/;32) =( 7/.&4( -";&.-/$&( *;( 5@e7( 3;&( &$?3#/2$;/7( "H( 7.#B$#4(3;&(">7/$/#*-7(*;(/:#$$(&*7/#*-/(B$;$#39(:"7N ?*/397(*;-9.&*;B(g.3;B(^*;:'(8"3(6*;:'(X*$;(6*$;'(*;( C__c( #$?"#/$&( /:$( "0$#399( #3/$( "H( 8=57( 37( <a)L( ?$#N -$;/cc)( 1157( 3--".;/$&( H"#( cc( ?$#-$;/( "H( /"/39( *;H$-N /*";7'( .#*;3#4( /#3-/( *;H$-/*";7( H"#( C<( ?$#-$;/'( 3;&( 9"%$#(#$7?*#3/"#4(/#3-/(*;H$-/*";7(H"#(<a(?$#-$;/(cc)

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

DDH&=*+5#5'+53&74GG$9&):"5*&"*0& V"*"K%8%*+ K:*7(7$-/*";(#$0*$%7(/:$(7.??94(-:3*;(3;&(23;N 3B$2$;/( 747/$27( H"#( 3;/*>*"/*-7( *;( Y*$/;32)( 5/( ?#"N 0*&$7(*;H"#23/*";(?$#/3*;*;B(/"(;3/*";39(?"9*-4(&"-.N 2$;/7( 3;&( /:$*#( #$93/*";7:*?( %*/:( &#.B( 7.??94( 3;&( &*7/#*>./*";'(/:$(?"7*/*";("H(3;/*>*"/*-7(*;(/:$#3?$./*-( B.*&$9*;$7( 3;&( &*7?$;7*;B( #$B.93/*";7'( 3;&( /:$( -.#N #$;/(7/3/.7("H(?:3#23-$./*-39(23;3B$2$;/)(

MHJH&E%K"$&-."8%/'.Q&'(&& =*+5#5'+53&Z5,G%*,5*K 1$0$#39( &$?3#/2$;/7( "H( /:$( A*;*7/#4( "H( 8$39/:( TA"8U( #$B.93/$( "?$#3/*";7( 3/( ?#*03/$( 3;&( ?.>9*-( :$39/:(-3#$(H3-*9*/*$7'(*;-9.&*;B(?:3#23-*$7'(3;&(*77.$( &#.B( ?"9*-*$7)( K:$( X#.B( =&2*;*7/#3/*";( *7( #$7?";N 7*>9$(H"#(/:$(#$B*7/#3/*";("H(&#.B7'(9*-$;7*;B("H(?:3#N 23-*$7( 3;&( &#.B7/"#$7'( &#.B( -*#-.93/*";( ?$#2*/7'( &#.B( ?#*-$( ?"9*-*$7'( *2?"#/( 3;&( $,?"#/'( &#.B( &*7/#*N >./*";'( &#.B( `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ϐ ǡ ͵Ͳ ?$#7";;$9(3/(/:$(-$;/#39(9$0$9cM) 5;(/:$(3;*239(7$-/"#'(/%"(&$?3#/2$;/7("H(/:$(A*;N *7/#4("H(=B#*-.9/.#$(3;&(E.#39(X$0$9"?2$;/(TA=EXU( #$93/$(/"(3;/*>*"/*-(.7$)(K:$(&./*$7("H(/:$(X$?3#/2$;/( "H(=;*239(8$39/:(TX=8U(3#$(7*2*93#(/"(/:$(X#.B(=&N 2*;*7/#3/*";( "H( A"8'( *;-9.&*;B[( &#.B( #$B*7/#3/*";'( *2?"#/(3;&($,?"#/'(&"2$7/*-(?#"&.-/*";'(`.39*/4(-";N /#"9( 3;&( $7/3>9*7:*;B( /:$( 9*7/( "H( ?#":*>*/$&( &#.B7( "#( &#.B7(%*/:(9*2*/$&(.7$(*;(3;*239(:$39/:)(K:$(^3/*";39( =B#"N!"#$7/#4N!*7:$#*$7( g.39*/4( =77.#3;-$( X$?3#/N

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

2$;/( T^=!5g=XU( *7( *;( -:3#B$( "H( 2";*/"#*;B( 3;/*>*N "/*-( .7$( *;( :.7>3;&#4( 3;&( 3`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ǡ ϐ ǡ Ǥ A"7/(93>"#3/"#*$7(:30$(;"(`.39*/4(747/$27(*;(?93-$(/"( 399"%(H"#(#$9*3>9$(2*-#">*"9"B*-(/$7/*;B)(5;(/:$(=;/*N 2*-#">*39(1$;7*/*0*/4(K$7/*;B(1/.&4(T=1K1U'(23;4(#$N 7.9/7(%$#$("H(?""#(`.39*/4(3;&(*;3--.#3/$)( 5;(<]]a'(A"8(#$`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ciC__Gi@KN6oKU( #$`.*#$7( :"7?*/397( /"( *2?9$2$;/( 9"-39(B.*&$9*;$7(H"#(#3/*";39(3;&(73H$(&#.B(.7$'(2";*N /"#*;B( "H( 3;/*>*"/*-( ?#$7-#*?/*";( ?#3-/*-$7'( "#B3;*VN *;B(9"-39(/#3*;*;B(?#"B#327(/"(*2?#"0$(S;"%9$&B$("H( &#.B(.7$(3;&(7/#$;B/:$;(:"7?*/39(?:3#23-*$7ca)(K:$( *2?3-/("H(/:*7(*;7/#.-/*";(*7(;"/(4$/(S;"%;)( K:$(2"7/(*2?"#/3;/(93%(#$B3#&*;B(3;/*>*"/*-(.7$(

*7(/:$(X#.B(J3%("H(C__c)(K:$(B"39("H(/:*7(93%(%37(/"( *2?#"0$(3??#"?#*3/$(3;/*>*"/*-(.7$(>4(399"%*;B(3;/*N >*"/*-7(/"(>$(&*7?$;7$&(";94(%*/:(3(?#$7-#*?/*";)(K:*7( 93%(397"(#$`.*#$7(/:$(?3/*$;/(/"(7/#*-/94(-"2?94(%*/:( /:$( ?#$7-#*?/*";'( /"( ?#"0*&$( H$$&>3-S( /"( ?#$7-#*>N $#7'(3;&(/"(#$?"#/(3;4(7*&$N$HH$-/7)(!.#/:$#2"#$'(/:*7( 93%( ?#":*>*/7( 3&0$#/*7$2$;/7( "H( ?#$7-#*?/*";N";94( &#.B7'( *;-9.&*;B( 3;/*>*"/*-7)( X$7?*/$( /:*7( 93%'( 2"7/( &#.B(7$99$#7(-";/*;.$(/"(7$99(3;/*>*"/*-7(H#$$94'(%*/:N "./( 3( ?#$7-#*?/*";cI)( @.##$;/94'( /:$#$( *7( ;"( 73;-/*";( H"#( ;"/( -"2?94*;B( %*/:( #$B.93/*";7( #$B3#&*;B( 739$7( "H(?#$7-#*?/*";N";94(&#.B7)(K:*7(234($,?93*;(%:4(/"( /:*7(2"2$;/(;"(?:3#23-4(:37(>$$;(?$;39*V$&(H"#(3;N /*>*"/*-(&*7?$;7*;B(%*/:"./(?#$7-#*?/*";)(!"#(/:$("./N ?3/*$;/(7$//*;B'(3(C__a(93%(TE$B.93/*";(^"(_GiC__Ii Ǧ Ȍ ϐ Ǥ &"-/"#7(%"#S*;B(*;(9$B39(:$39/:(-3#$(-$;/$#7(3;&(37( 3;($,-$?/*";'(377*7/3;/(&"-/"#7(*;(#$2"/$(3#$37'(-3;( >$( &$9$B3/$&( /"( ?#$7-#*>$)( K:$( ?#$7-#*>$#7( 3#$( 39N 9"%$&(/"(?#$7-#*>$(3H/$#(3(2$&*-39($,32*;3/*";(3;&( 3#$(#$7?";7*>9$(H"#(/:$*#(?#$7-#*?/*";(%:*-:(*7(039*&( ϐ Ǥ 7/3/$7( /:3/( /:$( ?#$7-#*>$#( 7:".9&( Q;"/( ?#$7-#*>$( /"( 73/*7H4(/:$(*##3/*";39(#$`.*#$2$;/("H(/:$(?3/*$;/)R( E$-$;/94'(/:$(E$B.93/*";("H(O""&(D:3#23-4(D#3-N /*-$'(C__a(%37(*77.$&(/"(*2?#"0$(/:$(`.39*/4("H(?:3#N Ǥ ϐ H"#( /:$( >37*-( #$/3*9( &#.B7/"#$( >4( /:$( D:3#23-4( J3%( TC__cU)( O""&( D:3#23-4( D#3-/*-$( TODDU( #$`.*#$7( ?:3#23-*$7(/"(:30$(?#"?$#(H3-*9*/*$7(T3#$3'(&#.B(7/"#N 3B$U'(/"(2";*/"#(&#.B(`.39*/4'(#$-"#&(&#.B(-";7.2?N /*";'( 3;&( /"( ;"/( 7$99( ?#$7-#*?/*";( &#.B7( %*/:"./( 3( ?#$7-#*?/*";)(!.#/:$#2"#$'(ODD(#$`.*#$7(#$7?";7*>9$( ?:3#23-*7/7(/"(>$(?#$7$;/(*;(/:$(&#.B7/"#$(H"#(?3/*$;/( -";7.9/3/*";7(3;&(397"(/"(?#"0*&$(:$39/:(*;H"#23/*";( Ǥ ϐ 3#$(";94(399"%$&(/"(&*7?$;7$("0$#N/:$N-".;/$#(&#.B7)( ϐ %3;/(/"(&*7?$;7$(?#$7-#*?/*";N";94(&#.B7)(8"%$0$#'( /:$( &$3&9*;$( H"#( 3//3*;*;B( ODD( 7/3/.7( :37( ;"/( >$$;( ϐ ͷ N 23-*$7( *;( Y*$/;32( 2$$/( /:$( #$`.*#$2$;/7( "H( ODD( 7/3;&3#&7c]Ǥ ϐ ?:3#23-*$7( /"( -"2?94( %*/:( ODD( 7/3;&3#&7'( *;-9.&N *;B(9"%$#(/3,(#3/$7'(9*-$;7$(/"(&*#$-/94(*2?"#/(H"#$*B;(

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

&#.B7'( 7$99( &#.B7( /"( /:$( :"7?*/397'( 3;&( 7.??94( &#.B7( H"#(:$39/:(*;7.#3;-$) 5;(9*;$(%*/:(*2?#"0*;B(&#.B(.7$(*;(Y*$/;32'(/:$( A"8(:37(7$/(.?(3(;3/*";39(-$;/$#(H"#(&#.B(*;H"#23N /*";(3;&(3&0$#7$(&#.B(#$3-/*";7(2";*/"#*;B(T^3/*";N 39(X5p=XE(@$;/$#'(X$-*7*";(]]<igXN6oK'(C__]U)(K:$( B"39("H(/:*7(-$;/$#(*7(/"($7/3>9*7:(3(&#.B(*;H"#23/*";( 3;&(?:3#23-"0*B*93;-$(747/$2(/"($;7.#$(&#.B(73H$/4( *;( Y*$/;32)( K:$( -$;/$#( %*99( >.*9&( &#.B( *;H"#23/*";( &3/3>37$7'( *;-9.&*;B( &3/3>37$( ";( ?:3#23-"0*B*N 93;-$'( -";7.9/( ;3/*";39( -"2?$/$;/( 3./:"#*/*$7( %*/:( Ȁ ϐ 2$&*-*;$7'( 3;&( /"( ?#"0*&$'( -";7.9/( 3;&( &*77$2*;3/$( *;H"#23/*";(";(&#.B7(3;&(?:3#23-"0*B*93;-$(*77.$7( /"(:$39/:(-3#$(*;7/*/./*";7'(:$39/:(-3#$(?#"H$77*";397( 3;&(/:$(-"22.;*/4)(K:*7(234(?934(3;(*2?"#/3;/(#"9$( *;( *;*/*3/*;B( >$//$#( ?#$7-#*>*;B( ?#3-/*-$( ?"9*-*$7( *;( /:$(:$39/:(-3#$(747/$2)( K:$#$( 3#$( /%"( &#.B( 9*7/7( *;( Y*$/;32'( /:$( +77$;N /*39(X#.B7(9*7/(3;&(/:$(@"22";(e7$&(X#.B7(9*7/)(K:$( +77$;/*39(X#.B(9*7/(7/3/$7(%:*-:(&#.B7(2.7/(>$(303*9N 3>9$(*;(:$39/:(H3-*9*/*$7(&$?$;&*;B(";(/:$(9$0$9("H(/:$( :"7?*/39)( 637*;B( ";( /:$( -.##$;/( +77$;/*39( X#.B( 9*7/(( "H(Y*$/;32'(%:*-:(*7(&$0$9"?$&(H#"2(/:$(Z"#9&(8$39/:( F#B3;*V3/*";(9*7/'(:"7?*/397($7/3>9*7:(/:$*#("%;(@"2N 2";(e7$&(X#.B(9*7/)(8"7?*/397(-3;(2"&*H4(/:$(@"2N 2";( e7$&( X#.B7( 9*7/( 37( 3??#"?#*3/$( H"#( /:$*#( 7*/.3N /*";'(3;&(/:*7(9*7/(*7(.7$&(/"(&$-*&$(";(#$*2>.#7$2$;/( >4( :$39/:( *;7.#3;-$)( K:$( 937/( @"22";( e7$&( X#.B7( 9*7/(&3/$7(H#"2(C__I(3;&(*/(:37(ac_(&#.B7(%*/:(<G<( 3;/*2*-#">*397(T*;-9.&*;B(3;/*0*#397(3;&(3;/*?3#37*/*-( &#.B7U)(!"#/4NH".#("H(/:$(3;/*2*-#">*397(-3;(";94(>$( .7$&(3/(/:$(-$;/#39(3;&(?#"0*;-*39(9$0$9'(<M("H(/:$7$( &#.B7(-3;(";94(>$(?#$7-#*>$&(%*/:(3??#"039(H#"2(/:$( :"7?*/39W7( X#.B( 3;&( K:$#3?$./*-7( @"22*//$$)( E$N 7/#*-/$&(&#.B7(-";7*7/("H(7$0$#39(L#&(3;&(G/:(B$;$#3N /*";(-$?:39"7?"#*;7(T-$H$?*2'(-$H"?$#3V";'(-$H"/*32'( 3;&( -$H/#*3,";U'( -3#>3?$;$27( T>./( ;"/( $#/3?$;$2U'( ǡ ǡ ǡ ϐ N ȋ ϐ ǡ ϐ ǡ ϐ Ȍǡ 3;&(03;-"24-*;)

MHMH&74GG$9&):"5* 0DQXIDFWXUHUV ^*;$/4N/:#$$(&"2$7/*-($;/$#?#*7$7(?#"&.-$(3;/*N >*"/*-7(*;(Y*$/;32'("H(%:*-:(cL(2$$/(Z8F(O""&(A3;N .H3-/.#*;B(D#3-/*-$7(TOADbZ8FU(7/3;&3#&7(%:*9$(CG( -"2?94( %*/:( OAD( b( =1+=^( #$`.*#$2$;/7)( A"7/( &"N 2$7/*-(-"2?3;*$7(#$?3-S3B$(7$0$#39(-"22";(3;/*>*N "/*-7(7.-:(37(>$/3N93-/327'(/$/#3-4-9*;'(-:9"#32?:$;N ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย วฆฯ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย *2?"#/$&( H#"2( "/:$#( -".;/#*$7'( 2"7/94( @:*;3'( 1*;N B3?"#$( 3;&( 5;&*3)( 1$0$#39( &"2$7/*-( 23;.H3-/.#$#7( 397"( &*7/#*>./$( 3;/*>*"/*-7( /"( :"7?*/397( "#( %:"9$739N $#7(T397"(S;"%;(37(/:$(Q?:3#23-$./*-39(23#S$/RU("#( :30$( /:$*#( "%;( ?:3#23-*$7)( !".#( 93#B$( ?:3#23-$.N /*-39(-"2?3;*$7(3#$(/:3/(3#$($;B3B$&(*;(?#"&.-/*";'( *2?"#/3/*";'( 3;&( &*7/#*>./*";( "H( ?:3#23-$./*-397( :30$(&"2*;3/$&(/:$(23#S$/)(F;-$("%;$&(>4(/:$(B"0N $#;2$;/'(/:$7$(-"2?3;*$7(:30$(;"%(>$$;($`.*/*V$&( %*/:( ?#*03/$( -3?*/39( 3;&( :30$( >$-"2$( d"*;/N7/"-S( -"2?3;*$7)( 5;( B$;$#39'( /:$( 1/3/$( :"9&7( GM)c( ?$#-$;/( "H(9$B39(-3?*/39(*;(399(d"*;/N7/"-S(-"2?3;*$7(T*;-9.&*;B( ;";N?:3#23-$./*-39( -"2?3;*$7U( %:*9$( /:$( $2?9"4N $$7(:"9&(LI)<(?$#-$;/(3;&("/:$#7(:"9&(<c)G(?$#-$;/( 7/"-SM_) 839H("H(399(&#.B7(.7$&(*;(Y*$/;32(%$#$(23&$(9"N -3994( -"2?#*7$( *;( C__I( T7".#-$[( A"8U)( K:$( /"/39( 039.$("H(9"-3994(23&$(&#.B7(%37(e1fa<c)GLc(2*99*";( *;( C__I'( 3( -";7*&$#3>9$( *;-#$37$( H#"2( e1fM__)ML_( 2*99*";( *;( C__a( T!*B.#$( c'( &3/3( A"8U)( A"8( :37( $;N -".#3B$&( ?.>9*-( :$39/:-3#$( ?#"0*&$#7( /"( ?#$7-#*>$( &"2$7/*-(&#.B7(%:$;(?"77*>9$)(

'LVWULEXWLRQ X*7/#*>./*";( "H( ?:3#23-$/*-397( *;( Y*$/;32( /3S$7( ?93-$(/:#".B:(/%"(23*;(-:3;;$97[(/#$3/2$;/(TLa(?$#N -$;/U(3;&(-"22$#-*39(TML(?$#-$;/U( MC)(139$7(/:#".B:( :"7?*/39(?:3#23-*$7(3#$(-";7*&$#$&(/#$3/2$;/(-:3;N ;$97'( %:*9$( 739$7( /:#".B:( ?#*03/$( ?:3#23-*$7( 3#$( -";7*&$#$&( -"22$#-*39)( A"#$( /:3;( La_( H"#$*B;( 3;&( ]L( &"2$7/*-( -"2?3;*$7( 7.??94( 3;/*>*"/*-7( /"( /:$( Y*$/;32$7$( 23#S$/( /:#".B:( 3( -"2?9$,( &*7/#*>./*";(

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

747/$2(%*/:(3??#",*23/$94(I__(72399$#(&*7/#*>./*;B( -"2?3;*$7( 3;&( L]'_<M( ?:3#23-4( "./9$/7( T?:3#23N -*$7'(&$7S7'(S*"7S7U(*;(C__IML)(K:$(23;3B$2$;/(3;&( -";/#"9("H(&#.B(?#*-$(3;&(`.39*/4(*;(/:$(7.??94(-:3*;( *7(%$3S)(

-5K4.%&SL&!'+"$&"*0&0'8%,+53&8"0%&0.4K& ,"$%,&5*&?5%+*"8&[2&85$$5'*&B7Z\&(.'8& MRRJ&+'&MRRTUJ&

=*:%>,?)[%:9)1B&$'$G/%#/$*')*.)5$,/'#&)V@$'$G/%C)*.)S,#-/"X

K:$#$( 3#$( 7$0$#39( Q?:3#23-$./*-39( 23#S$/7R( %:*-:(3#$(>37$&(";94(*;(83;"*(3;&(8"(@:*(A*;:(@*/4)( K:$7$(%:"9$739$(23#S$/7(7.??94(&#.B7(/"(/:$(Q?:3#N 23-$./*-39( 23#S$/R( "H( &#.B7/"#$7( /:#".B:"./( /:$( %:"9$(-".;/#4)(

+RVSLWDOV =99(:"7?*/397(:30$(3(?:3#23-4(&$?3#/2$;/(%:*-:( *7( #$7?";7*>9$( H"#( 3;/*>*"/*-( &*7?$;7*;B( /"( >"/:( *;N ?3/*$;/7( 3;&( "./N?3/*$;/7)( +3-:( 4$3#( /:$( ?:3#23-4( ?#$?3#$7(3(9*7/("H(;$-$773#4(&#.B7(%*/:(/:$(#$`.*#$&(

32".;/7'( 3;&( *;0*/$7( ?:3#23-$./*-39( 7.??9*$#7( /"( 7.>2*/(>*&7)(=(#$-$;/(*;7?$-/*";(>4(/:$(X#.B(=&2*;N *7/#3/*";(*;(M(:"7?*/39(?:3#23-*$7(3;&(I(?:3#23-*$7( 3#".;&(/:$(:"7?*/397(*;&*-3/$&(/:3/(;$3#94(]I(?$#-$;/( "H( /:$( ?#"&.-/7( %$#$( 7"9&( 3/( 9"%$#( #$/3*9( ?#*-$7( 3/( :"7?*/39( ?:3#23-*$7( /:3;( *;( /:$( #$/3*9( &#.B7/"#$7cI)( 8"%$0$#'(*;("/:$#(7/.&*$7(/:$("??"7*/$(:37(>$$;(#$N -"#&$&[( #$/3*9( ?#*-$7( *;( :"7?*/397( :*B:$#( /:3;( /:"7$( "H(?#*03/$(?:3#23-*$7("./7*&$)(=(#$-$;/(Z8F(#$?"#/( ";(2$&*-*;$(?#*-$7(*;(Y*$/;32(397"(7/3/$7(/:3/(?.>9*-( 7$-/"#(?#*-$7(3#$(:*B:$#(/:3;(/:$(?#*03/$(7$-/"#MG)(

'UXJVWRUHV 1*-S(?$"?9$(.7.3994(B"(/"(";$("H(/:$(L]'___(?:3#N 23-*$7'(#3/:$#(/:3;(/"(3(-9*;*-("#(:"7?*/39'(*;("#&$#(/"( 730$(/*2$(3;&(2";$4)(5;(7.-:(?:3#23-*$7'(?3/*$;/7( &$7-#*>$(/:$*#(742?/"27(3;&(&#.BN7$99$#7'(%*/:(9*/N /9$("#(;"(2$&*-39(/#3*;*;B'(7$99(&#.B7(%*/:"./(3(?#$N 7-#*?/*";Mc)((A"7/(?3/*$;/7(%:"(>.4(3;/*>*"/*-7(>.4( /:$2( H"#( 3( 7:"#/( ?$#*"&( "H( 3??#",*23/$94( L( &347Gc)(( =;/*>*"/*-7( 3#$( "H/$;( -"N7"9&( %*/:( 0*/32*;( /3>9$/7'( 3;/*N?4#$/*-7'(3;&(7"2$/*2$7(7/$#"*&7(le;?.>9*7:$&( &3/3( Fe@EeN8Aem)( =--"#&*;B( /"( /:$( 93%'( ";94( 3( ϐ ?:3#23-4( >./( 7.-:( ?:3#23-*7/7( #$;/( "./( /:$*#( 9*N -$;7$(3;&(%"#S($97$%:$#$(23S*;B(*/($37*$#(H"#(3;4N ";$(/"("%;(3(?:3#23-4)(

3ULFHV DW 9DULRXV /HYHOV LQ ( )A>>?@(OH<28 5;(3(72399(7.#0$4(-";&.-/$&(*;(3(?:3#23-$./*-39( 23#S$/(*;(83;"*(3;&(7"2$(&#.B7/"#$7(;$3#(63-:(A3*( :"7?*/39'(*/(%37(H".;&(/:3/(/:$(#$/3*9(?#*-$("H(3;/*>*"/N *-7(*7(3>"./(<cNC_(?$#-$;/(:*B:$#(/:3;(/:$(%:"9$739$( ?#*-$(T1$$(K3>9$(cU)((5;(:"7?*/397'(/:$(?#*-$("H(3;/*>*"/N *-7(*7(3>"./(<cNC_(/*2$7(9"%$#(/:3;(%:"9$739$(?#*-$( ϐ Ǧ >$B*;;*;B("H($0$#4(4$3#)(K:$(9"%$#(:"7?*/39(?#*-$(3?N ?9*$7(/"(*;N?3/*$;/7(";94)(F./N?3/*$;/7(?.#-:37*;B(3;N /*>*"/*-7(*;(/:$(:"7?*/39(?:3#23-4(?34(/:$(#$/3*9(?#*-$( ϐ Ǧ >4(A"8(#$B.93/*";7(T1$$(K3>9$(MUMM)(5;(/:$(?.>9*-(7$-N /"#'(3;/*>*"/*-7(3--".;/(H"#(G_Nc_(?$#-$;/("H(/:$(/"/39( &#.B( -"7/7)( =2";B( /:$( <__( :*B:$7/( 7$99*;B( ?:3#23N -$./*-39( ?#"&.-/7( *;( Y*$/;32$7$( 23#S$/'( C<( %$#$( 3;/*>*"/*-7( *;( C__C'( -";7/*/./*;B( C]( ?$#-$;/( "H( /"/39( 039.$Ma)( K:$#$( 3#$( ;"( #$9*3>9$( &3/3( 303*93>9$( 3>"./( /:$(/"/39( $,?$;&*/.#$(H"#(3;/*>*"/*-7(*;(Y*$/;32(>./( ϐ H#"2(3;/*>*"/*-(739$7MI)(

'UXJ 3ULFH &RQWURO K:$(X#.B(=&2*;*7/#3/*";(TX=YU'(*;(-""#&*;3/*";( %*/:(/:$(A*;*7/#4("H(!*;3;-$(*7(#$7?";7*>9$(H"#(*2?9$N

!"#$%&SL&<.53%,&'(&,'8%&"*+5#5'+53,&& "+&6".5'4,&$%6%$,&5*&+:%&05,+.5#4+5'*&,9,+%8 =*+5#5'+53

)'8G"*9

B*5+

I',G5+"$

]:'$%,"$%& G.53%&[B7Z\

$XJPHQWLQ PJ W"J6P2;2??28X";2=(( &ODYXODQLF

,8<5@8( $PSLFLOOLQ 6XOEDFWDP

&HIDOH[LQH PJ &HIDFORU PJ &HIXUR[LP PJ &LSURÁR[DFLQ PJ

*6. (QJODQG

+<:?49

>%+"5$& G.53%& [B7Z\

3À]HU ,WDO\

&2<?

+1<>H<;6%&2498<J D4E67<1J%"J412;< #694P%!41J<8@ %D\HU *HUPDQ\

+<:?49 +<:?49 &2<? +<:?49

) =*:%>,?)G:%A,C)*.)/",);"#%&#>,:/$>#-)&#%8,/)$')S#'*$)#'B)G*&,)B%:9G/*%,G)-*>#/,B)#%*:'B)K#>")@#$)"*G;$/#-

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

2$;/*;B(3;&(7$//*;B(&#.B(?#*-$(-";/#"97)(K:*7(*7(7/*99( &$0$9"?*;B( "?$#3/*";39( ?93;7)( X=Y( 93-S7( B""&( $0*N &$;-$(H"#(7$//*;B(.?(3(&#.B(?#*-$(747/$2'(:$;-$(Z8F( 7.??"#/7( /:$2( *;( B3/:$#*;B( /:$( &3/3( 3;&( /"( .;&$#N /3S$( 2$&*-*;$7( ?#*-$( 7.#0$47( 3;&( -"2?";$;/( ?#*-$( 7.#0$4("H(2$&*-*;$7)(

!"#$%&UH&>%+"5$&G.53%&"*0&K'6%.*8%*+&& "$$'/%0&,4.G$4,%,&[8".Q@4G,\&('.&:',G5+"$& G:".8"35%, C' S

F",53&G.53%^ B*5+&[B7Z\ ย !

V"25848&& ,4.G$4,&[_\ T S

( =*:%>,?)S,#-/")=/#/$G/$>G)Y,#%+**8)UWWN)V@$'$G/%C)*.)S,#-/"X

K:$( -.##$;/( 2$-:3;*72( "H( &#.B( ?#*-$( -";/#"9( *7( ;"/(3>9$(/"(3-:*$0$(/:$(&$7*#$&(">d$-/*0$(37(/:$(&#.B( ?#*-$7( *;( Y*$/;32( 3#$( :*B:$#( /"( *;/$#;3/*";39( -"2N ?3#3/"#7MG)( @.##$;/94'( X=Y( -"99$-/7( -"7/'( *;7.#3;-$( 3;&( H#$*B:/( T@5!U( ?#*-$7( "H( 399( *2?"#/$&( 2$&*-*;$7( 3;&(23;.H3-/.#$#7(3#$(#$`.*#$&(/"(&$-93#$(%:"9$739$( ?#*-$7(>$H"#$(3(23#S$/(3./:"#*V3/*";(T#$B*7/#3/*";U(*7( B#3;/$&)(8"%$0$#'(/:$#$(*7(;"(9*2*/(/"(/:$(%:"9$739$( ?#*-$7( &"%;7/#$32)( K:$( B"0$#;2$;/( :37( ;"( 9$0$#N 3B$(/"(;$B"/*3/$(";(/:$(%:"9$739$(?#*-$7)(K:$(@5!(3;&( &$-93#$&(%:"9$739$(?#*-$7(3#$(-"2?3#$&'(>./($0$;(*H( /:$(%:"9$739$(?#*-$7(3#$(2.-:(:*B:$#(/:3;(/:$(@5!'(*/( *7( 7/*99( 399"%$&)( 8"7?*/397( 3#$( /:$;( #$`.*#$&( /"( ?#"N -.#$(/:$*#(2$&*-*;$7(>37$&(";(/:$(%:"9$739$(?#*-$7( >4(3(/$;&$#*;B(?#"-$77)(6./(37(/:$(%:"9$739$(?#*-$7( 3#$(39#$3&4(:*B:'(/$;&$#7(397"(/$;&(/"(23,*2*V$(7.-:( %:"9$739$(?#*-$7'(*;-#$37*;B(/:$(?#*-$($0$;(2"#$)((E$N /3*9(?#*-$7(3#$(&$/$#2*;$&(>4(/:$(23#S$/'(>./(/:$#$(*7(

3(/$;&$;-4(/"(7$99(>#3;&$&(&#.B7(#3/:$#(/:3;(-:$3?$#( B$;$#*-7MG)(Z*/:(/:$(-.##$;/(?"9*-4'(7.??9*$#7(-3;($37N *94(d.7/*H4(*;-#$37$(";(?#*-$7'(3;&(B"0$#;2$;/(-3;;"/( -";/#"9( */)( F/:$#( -".;/#*$7( :30$( 3( 2"#$( 7/#.-/.#$&( ?#*-$( -";/#"9( 2$-:3;*72'( %*/:( 7/#";B( B$;$#*-( ?"9*N -*$7'(B""&(?#"-.#$2$;/(747/$27(3;&(7*;B(747/$27(9$N 0$#3B$7(T7.-:(37(:$39/:(*;7.#3;-$(3;&(>.9S(?#"-.#$N 2$;/7U(/"(#$&.-$(&#.B(?#*-$7)

&RXQWHUIHLW $QWLELRWLFV A"7/( -".;/$#H$*/( &#.B7( 3#$( 7"9&( *;( 23#S$/7( 3;&( &#.B(7/"#$7(%*/:"./(?:3#23-$./*-39(9*-$;7$)(K:$(0"9N .2$("H(H3S$(&#.B7(:37(&$-#$37$&(3;&(:"?$H.994(%*99( -";/*;.$(/"(&"(7"(%:$;(?:3#23-*$7(7/3#/(/"(-"2?94( %*/:( ODD( 7/3;&3#&7( 3;&( Y*$/;32$7$( -*/*V$;7( %*99( 7/"?(>.4*;B(H#"2(*99$B39("./9$/7M])(=--"#&*;B(/"(A"8'( *;(C__I'(Cc(>3/-:$7("H(>"/:(&"2$7/*-(3;&(*2?"#/$&( 3;/*>*"/*-7("./("H(/"/39(]G(&#.B7(T(CM)M(?$#-$;/U(%$#$( #$-399$&( H#"2( /:$( Y*$/;32$7$( ?:3#23-$./*-39( 23#N S$/(&.$(/"(9"%(`.39*/4a_)(!3S$(2$&*-*;$7(7"9&(*;(Y*$/N ;32( 3#$( 23*;94( 3;/*>*"/*-7[( 32?*-*99*;'( 32",*-*99*;'( -:9"#32?:$;*-"9'($#4/:#"24-*;'(3;&(/$/#3-4-9*;M]) 5;(C__I'(93#B$(32".;/7("H(-".;/$#H$*/(&#.B7(%$#$( &$/$-/$&(&.$(/"(*;-#$37$&(7.#0$*993;-$(3-/*0*/*$7(3;&( *2?#"0$&( -""?$#3/*";( >$/%$$;( B"0$#;2$;/( 3B$;N -*$7(TK3>9$(aUa<)

MHPH&<"++%.*,&'(&=*+5#5'+53&B,%&('.& <".+534$".&)'*05+5'*, 5;( -"993>"#3/*";( %*/:( Z8F( 3;&( e^5@+!'( A"8( :37(?#"&.-$&(;3/*";39(B.*&$9*;$7(H"#(/#$3/*;B(-:*9&N :""&(*99;$77$7'(*;-9.&*;B(3-./$(#$7?*#3/"#4(*;H$-/*";7( ศ ย ศ วก ย ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย วก ย ย ฯ ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย วฆ 3-`.*#$&( ?;$.2";*3$'( 3;&( &*3##:$3aC)( K:$( C__M( B.*&$9*;$("H(-"22";(*;H$-/*".7(&*7$37$7(>4(A"8(-";N

!"#$%&YL&)'4*+%.(%5+&0.4K,&0%+%3+%0&+:.'4K:&9%".,YR /4<1 3HUFHQWDJH

( =*:%>,?)[%:9)1B&$'$G/%#/$*')*.)5$,/'#&Z@$'$G/%C)*.)S,#-/")*.)5$,/'#&\T

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

ϐ ȋ ǡ ǡ N #3/*";U(H"#(03#*".7(9$0$97("H(:$39/:(H3-*9*/*$7'(?3/*$;/( -:3#3-/$#*7/*-7( 7.-:( 37( 742?/"27'( &*7$37$( 7$0$#*/4'( %$*B:/(3;&(3B$'(3;&("--37*";3994(>37$&(";(/:$(#$7*7N ϐ aL)(K:$(B.*&$9*;$( 397"(?#"0*&$7(3&0*-$(";(&#.B(/",*-*/4(2";*/"#*;B(T$)B)( ϐ ȌǤ =/(/:$(-"22.;*/4(9$0$9'(/:$(A"8(B.*&$9*;$7(3&0*7$( ?$;*-*99*;("#(32",*-*99*;(H"#(?;$.2";*3("H(.;S;"%;( "#*B*;)( =2",*-*99*;( %*/:( -930.93;*-( 3-*&( "#( 3( 7$-";&( "#(/:*#&(B$;$#3/*";(-$?:39"7?"#*;(234(>$(B*0$;(37(3;( 39/$#;3/*0$)( !"#( 7.7?$-/$&( 3/4?*-39( ?;$.2";*3'( /:$( B.*&$9*;$(3&&7(3(23-#"9*&$(/"(/:$(#$B*2$;)(@";7*&$#N *;B(/:$(#$7*7/3;-$(#3/$7("H(."#F%/*7(%,3/(3;&( Ǥ ϔ R (*;(Y*$/;32'(/:$(#$-"22$;&$&(.7$("H(?$;*-*99*;( "#(32",*-*99*;(*;(/:*7(B.*&$9*;$(234(>$(*;$HH$-/*0$aG)(

ǡ ϐ 32?*-*99*;("#(-$?:39$,*;((3#$(2"7/("H/$;(B*0$;(3/(-"2N 2.;*/4(:$39/:(-$;/$#7)(=/(/:$(:"7?*/39(9$0$9'(?3/*$;/7( %*/:( -"22.;*/4N3-`.*#$&( ?;$.2";*3( 3#$( #$-"2N 2$;&$&(32",*-*99*;(T%*/:("#(%*/:"./(-930.93;*-(3-*&U( "#(3(7$-";&("#(/:*#&(B$;$#3/*";(-$?:39"7?"#*;(%*/:(3( 23-#"9*&$'(H"99"%*;B(/:$(A"8(B.*&$9*;$)( !"#(2$;*;B*/*7'(/:$(B.*&$9*;$(3&0*7$7(*;/#30$;".7( ǡ ϐ Ǥ /#$3/2$;/( #$-"22$;&3/*";7( &*HH$#( >4( 3B$( -3/$B"#4( 3;&(/:$(7.7?$-/$&(?3/:"B$;7)(K:$(/#$3/2$;/(?#"-$N &.#$7(H"#(3;(*2?"#/3;/(?3/:"B$;(/:3/(-3.7$7(>3-/$N #*39(2$;*;B*/*7(*;(3&.9/7'(.&'/F&(+(++*6#6*,6'(*7(;"/(4$/( 9*7/$&( *;( /:*7( B.*&$9*;$)( !.#/:$#2"#$'( /:$( B.*&$9*;$( 7/*99(#$-"22$;&7(*;/#30$;".7(?$;*-*99*;(H"#(?;$.2"N -"--39(2$;*;B*/*7'(&$7?*/$(:*B:(#$7*7/3;-$(#3/$7)(=97"( ϐ 2$;*;B*/*7( $0$;( /:".B:( /:*7( &#.B( :37( >$$;( >3;;$&( H"#(23;4(4$3#7(&.$(/"(7$#*".7(9*0$#(/",*-*/4)(=--"#&N *;B( /"( /:$( B.*&$9*;$'( 9"%$#( 9$0$9( :"7?*/397( 3#$( ;"/( 399"%$&( /"( 3&2*;*7/$#( 3;/*>*"/*-7( /"( ?3/*$;/7( %*/:( 7.7?$-/$&( >3-/$#*39( 2$;*;B*/*7'( >./( 2.7/( #$H$#( /:$( ?3/*$;/7(/"(#$H$#$;-$(:"7?*/397(H"#(H.#/:$#(&*3B;"7*7( 3;&(/#$3/2$;/aL)( K:$( 83;&>""S( "H( 5;/$B#3/$&( A3;3B$2$;/( H"#( @"22";( @:*9&:""&( 599;$77$7( TA"8'( C__MU( H"-.7$7( ";( B.*&*;B( 2"/:$#7( ";( :"%( /"( -3#$( H"#( -:*9&#$;( 3/( :"2$( 3;&( %:$;( /"( /3S$( /:$2( /"( /:$( :"7?*/39)( K:*7(

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

ǡ ϐ N /*";( 3;&( /#$3/2$;/( "H( -:*9&:""&( &*7$37$7( *;-9.&*;B( ?;$.2";*3(3;&(&*3##:$3)(K:$(B.*&$9*;$(#$-"22$;&7( -"/#*2",3V"9$'(32",*-*99*;'("#($#4/:#"24-*;(H"#(7$#*N ".7(#$7?*#3/"#4(*;H$-/*";7)(5/(397"(7/3/$7(/:3/(-:*9&#$;( 7:".9&(;"/(>$(B*0$;(3;/*>*"/*-7(H"#(-".B:("#(-"22";( -"9&(%*/:"./(7*B;7("H(?;$.2";*3)((!"#(-:*9&#$;(%*/:( ϐ N 32?:$;*-"9(H"99"%$&(>4(#$H$##39(/"(3(93#B$#(:"7?*/39( *7(#$-"22$;&$&)( =(7/.&4(-";&.-/$&(*;(C__a(:37($039.3/$&(S;"%9N $&B$( 3>"./( 3;/*>*"/*-( .7$( *;( #.#39( Y*$/;32)( X$7?*/$( /:$($,*7/$;-$("H(/:$(B.*&$9*;$7'(S;"%9$&B$(3>"./(3;N /*>*"/*-(.7$(*7(?""#(3;&(=E5(23;3B$2$;/(>4(:$39/:N -3#$(?#"0*&$#7("H/$;(*;-9.&$7(3;/*>*"/*-7(H"#(-"22";( -"9&7(3;&(-".B:7aG)(K:$(7/.&4(397"(7:"%$&(/:3/(7.-:( 3;/*>*"/*-7( .7$( &"$7(;"/( -"2?94( %*/:( /:$( /4?$'( &"7N 3B$(3;&(&.#3/*";("H(/#$3/2$;/(#$-"22$;&$&(*;(/:$( B.*&$9*;$7ac)(

MHWH&D*"GG.'G.5"+%&=*+5#5'+53&B,%& 5;(/:$(2$&*-39(3;&(?:3#23-$./*-39(/#3*;*;B(-.#N #*-.93'( 0$#4( 9*//9$( /*2$( *7( &$0"/$&( /"( 3;/*>*"/*-( .7$'( #$7*7/3;-$( 3;&( ?#"?$#( ?#$7-#*?/*";)( =--"#&*;B( /"( 3( -"22.;*/4N>37$&(7/.&4(.;&$#/3S$;(*;(<]]](aI(?$#N -$;/( "H( 3;/*>*"/*-7( %$#$( ?.#-:37$&( *;( ?#*03/$( ?:3#N 23-*$7( %*/:"./( ?#$7-#*?/*";7)( 1*,/4N7$0$;( ?$#-$;/( "H( /:$( ?3#/*-*?3;/7( -";7.9/$&( /:$( ?:3#23-*7/( %:*9$( <<(?$#-$;/(&$-*&$&(/:$27$90$7(3>"./(3;/*>*"/*-(.7$)( F;94( Ca( ?$#-$;/( "H( /:$( ?:3#23-4( 7/3HH( :3&( -"##$-/( S;"%9$&B$(3>"./(3;/*>*"/*-(.7$(3;&(#$7*7/3;-$Ma)(X$N 7?*/$(/:$(#$B.93/*";7(3;&(B.*&$9*;$7(7$/(H"#(3;/*>*"/N *-7'(739$7("H(2"7/(3;/*>*"/*-7(%*/:"./(3(?#$7-#*?/*";(*7( 3(-"22";(?#3-/*-$(*;(Y*$/;32ac)( A"/:$#7(.7.3994(/#$3/(7*-S(-:*9&#$;(%*/:"./(B"*;B( /"(3(:$39/:-3#$(?#"0*&$#)(=--"#&*;B(/"(3(7/.&4(*;(63( Y*'( IC( ?$#-$;/( "H( /:$( -:*9&#$;( /:3/( :3&( 3/( 9$37/( ";$( 742?/"2( "H( 3-./$( #$7?*#3/"#4( /#3-/( *;H$-/*";( T=E5U( %$#$( /#$3/$&( %*/:( 3;/*>*"/*-7( *;( <]]]Ma)( K:$( 2"7/( -"22";(3;/*>*"/*-7(.7$&(%$#$[(32?*-*99*;("#(32",*N -*99*;( TIM( ?$#-$;/U'( ?$;*-*99*;( T<C( ?$#-$;/U'( $#4/:#"N

24-*;(Tc(?$#-$;/U'(/$/#3-4-9*;(TG(?$#-$;/U(3;&(7/#$?N /"24-*;( TC( ?$#-$;/U)( F;( 30$#3B$'( 7.-:( &#.B7( %$#$( .7$&( H"#( 3>"./( L( &347'( >./( 3( 2*;*2.2( "H( c( &347( *7( #$-"22$;&$&( H"#( 3;/*>*"/*-( /#$3/2$;/( "H( >3-/$#*39( ?;$.2";*3)(Z*/:(/:$(*;-#$37$&(-"22";(.7$("H(-$?:N 39"7?"#*;7( H"#( 2"#$( 7$0$#$( &*7$37$7'( /:$( ?3//$#;( "H( 3;/*>*"/*-( -";7.2?/*";( 39/$#$&( *;( C__a)( =;/*>*"/*-7( &*7?$;7$&(*;(C__a(%$#$[(32?*-*99*;("#(32",*99*;(TG]( ย ย ย ย ย ย ย ศ วก ย ย ย ย ฯ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ศ อดอน ?$#-$;/U'( -"/#*2",3V"9( T<<( ?$#-$;/U'( 23-#"9*&$7( TL( ?$#-$;/U'(3;&("/:$#7(TC(?$#-$;/UaM)( K:$( #$37";7( H"#( *##3/*";39( 3;/*>*"/*-( ?#$7-#*>*;B( *;(Y*$/;32(3#$(/:$(732$(37(*;("/:$#(-".;/#*$7[(?$#N -$*0$&($,?$-/3/*";7("H(?3/*$;/7'(/*2$(-";7/#3*;/7'(93-S( ย ย ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย วก ย ย ย ฯ ย ย ย ย N ย ย ย ย ย ย ย ย ฯ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ศ ย ย ย วฃ อณ7/( %"#SN 7:"?( #$?"#/m)( =( 23d"#( -:399$;B$( *7( /"( *&$;/*H4( 3;&( 2"&*H4(/:$(*;-$;/*0$7(H"#(*;3??#"?#*3/$(?#$7-#*>*;B)( !.#/:$#2"#$'(/:$(:*B:("./N"HN?"-S$/($,?$;&*/.#$(*;( Y*$/;32( H"#-$7( ?3/*$;/7( /"( 7$$S( :$39/:( -3#$( *;( /:$( -:$3?$7/(%34)

MHS&D*3%*+56%&7+.43+4.% =7( #$?"#/$&( >4( /:$( =&2*;*7/#3/*";( "H( A$&*-39( 1$#0*-$7( *;( C__]'( 3;/*>*"/*-( $,?$;&*/.#$( B$;$#3994( $,-$$&7(L_(?$#-$;/("H(/"/39(:"7?*/39(/#$3/2$;/(-"7/7'( *;-9.&*;B(399(&#.B7(3;&(-:$2*-397(T&3/3(A"8U)(=(93#B$( ?3#/("H(/:$(>.&B$/(*7(.7$&(/"(?.#-:37$(/:*#&(B$;$#3N /*";(-$?:39"7?"#*;7(T-$H/#*3,";$'(-$H"?$#3V";$U'(`.*N ย ย ย ย ย ย ย ศ ย ย ย ย ฯ ย ย ย ย ย ย ย ศ ย ย ย ย ย ย ย ย ย ย ย ย ย ศ ย ย ย ย ย ย ย ย ศ วค K3>9$(I(:*B:9*B:/7(/:$(*;-$;/*0$7(3/(&*HH$#$;/(9$0$97(H"#( ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ฯ ย ย ย &.#*;B(3(%"#S7:"?(*;(C__](l#$H[(O=ED(<7/(%"#S7:"?( #$?"#/m)(5;(9"%$#(9$0$9(?.>9*-(:"7?*/397'($7?$-*3994(H"#( ?3/*$;/7( %*/:( :$39/:( *;7.#3;-$'( -:$3?$#( 3;/*>*"/*-7'( 7.-:(37(32",*-*99*;'(3#$(.7$&)(5;(?#*03/$(-9*;*-7'(&"-N /"#7( /$;&( /"( ?#$7-#*>$( Q7/#";BR( 3;/*>*"/*-7( 7.-:( 37( -$?:39$,*;'(V*;;3/'("#(3.B2$;/*;)(!.#/:$#2"#$'(/:$#$( ย ย ย ฯ ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย ย N ?$;7*0$'(3;/*>*"/*-7(/:3/(-"2?3;*$7(9*S$(/"(?.7:(*;/"( /:$(23#S$/)(

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

!"#$%&TL&D*3%*+56%,&('.&"*+5#5'+53&4,% )"+%K'.9 $H@52;2<85(28( >A:?2;(54;961

$H@52;2<85(28( >123<94(54;961 O?282;5 +RVSLWDOV

$H<1J<;245Y 01AB59614

$<92489

D*3%*+56% )H<14(67(<892:2692;(>12;4K(28329<92685( 96(;6874148;45K(B2795(( $<92489(4P>4;9<9268(( D<@(5<34(92J4 )H<14(67(<892:2692;(>12;4(( $<92489(4P>4;9<9268 *871<591A;9A1<?(2J>1634J4895K(5A;H( <5(<21(;68=2926841K(+&K(69H415 )H<14(3<?A4(67(=1AB(>16;A14J489( ;6891<;9K(2871<591A;9A1<?(( 2J>1634J4895 $16J69268(>16B1<J5(G29H(( =25;6A895(( 6KDUH SURร WV EDVHG RQ DQWLELRWLF 5<?45 $14741(Z59168B(J4=2;284[(( %HWWHU EH ยดVDIH WKDQ VRUU\ยต DV 9H414(<14(86(=2<B86592;(94595(( <3<2?<:?4(96(1A?4(6A9(:<;9412<?(( ;<A54(67(5@J>96J5(( )4?7%J4=2;<9268(25(J614(;683482489( <8=(;H4<>41(9H<8(B628B((96(9H4( =6;961

MHU&=*+5#5'+53&B,"K%&<"++%.*,&5*& I48"*, 5A1( *7( 3( -"22$#-*39( "#B3;*V3/*";( /:3/( /#3-S7( 739$7( "H( /:$( B9">39( ?:3#23-$./*-39( 23#S$/( /:#".B:( /%"( 23*;( -:3;;$97( *;( Y*$/;32[( #$/3*9( ?:3#23-*$7( 3;&( :"7?*/39( ?:3#23-*$7)( K:$( #$/3*9( ?:3#23-4( &3/3( ?#$7$;/$&( :$#$( 7:"%( /"/39( 739$7( "H( GL]( ?:3#23-*$7( *;( Y*$/;32'( $,-9.&*;B( ?:3#23-*$7( %*/:( %:"9$739$( 3-/*0*/*$7)(K:$(:"7?*/39(?:3#23-4(&3/3(#$?#$7$;/(/"N /39(739$7("H(MC(:"7?*/397(*;(c(-*/*$7[(83;"*'(8@A@'(83*( D:";B'( X3( ^3;B( 3;&( @3;( K:")( K:$( 739$7( &3/3( -"0$#( /:$( &.#3/*";( "H( ";$( 4$3#[( G/:( `.3#/$#( C__I( /"( L#&( `.3#/$#(C__](T5A1(&3/3(Y*$/;32(C__INC__]U) K:$( /#$;&( "H( 2"7/( -"22";94( 7"9&( 3;/*>*"/*-7( *7( 7*2*93#( *;( #$/3*9( ?:3#23-*$7( 3;&( :"7?*/39( ?:3#23N -*$7( T!*B.#$( MU)( F#39( -$?:39"7?"#*;7( Tq_<X_<U( 3#$(

-5K4.%&UL&7"$%,&'(&"*+5#5'+53,&5*&?5%+*"8&& $30,000,000

250,000,000

Average yearly sale per pharmacy (US$)

200,000,000

$20,000,000

Average units dispensed per pharmacy/year

150,000,000

100,000,000

$10,000,000

12 13 14 15

$40,000,000

50,000,000

11 6

Average yearly sale per hospital (US$)

$30,000,000

0 50,000,000 40,000,000

4 1

12 7

Average units dispensed per hospital/year

30,000,000 $20,000,000

14 15 13

10 20,000,000

$10,000,000

1 3

1 2 3

AMINOGLYCOSIDES CARBAPENEMS CARBENICILLINS

4 5 6

10,000,000

9 11

12 13 14 15

CHLORAMPHENICOLS

7 INJECT BROAD PENICILLINS 8 INJECT CEPHALOSPORINS 9

1 0

INJECT FLUOROQUINOLONES MACROLIDES ORAL BROAD PENICILLINS

11 7

14 15

10 ORAL CEPHALOSPORINS 13 OTHER ANTIBACTERIALS 11 ORAL FLUOROQUINOLONES 14 TETRACYCLINES + COMBS 12 ORAL NARROW PENICILLINS 15 TRIMETHOPRIM + COMBS

1A,%#9,)G*-B):'$/G)$')%,/#$-);"#%&#>C)V/*;X)#'B)"*G;$/#-)V+*//*&X<)1A,%#9,)G#-,G)B#/#);,%)C,#%)$')E=])$')%,/#$-);"#%&#>C)V/*;X)#'B) "*G;$/#-)V+*///*&X)+C)#'/$+$*/$><) )

-5K4.%&YL&ZZZ&G%.&JRR&#%0@0"9,&'(&=*+5#5'+53,&5*&MRRT@MRR`

1RWH 2WKHU DQWLELRWLFV LQFOXGH 9DQFRP\FLQ )RVIRP\FLQ 5LIDPSLFLQ 0HWURQLGD]ROH DQG 7LQLGD]ROH ''' GHÃ&#x20AC;QHG GDLO\ GRVH D VWDQZ B#%$^,B

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

-5K4.%&TL&V'*+:$9&ZZZ&G%.&JRR&#%0@0"9,&'(&Y&:5K:%,+&=#,&5*&MRR`

/:$( 2"7/( -"22";94( 7"9&( 3;/*>*"/*-7( 3/( 399( ?:3#23N -*$7'( H"99"%$&( >4( "#39( >#"3&( 7?$-/#.2( ?$;*-*99*;7( ȋ Ͳͳ ͲͳȌǡ ϐ Ǥ 23*;( &*HH$#$;-$( >$/%$$;( ?:3#23-*$7( 3;&( :"7?*/397( *7(/:3/(/:$(>.9S(*;d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d$-/3>9$( &#.B7( 3#$( 2"#$( -"7/94( ?$#(.;*/(/:3;("#39(&#.B7(3;&(#$?#$7$;/(3(:*B:$#(?$#N -$;/3B$( "H( /:$( /#$3/2$;/( >.&B$/)( 5;d$-/3>9$( -$?:3N 9"7?"#*;7( :30$( /:$( :*B:$7/( 739$7( 039.$( *;( /:$( :"7?*N /397'(H"99"%$&(>4(-3#>3?$;$27)(6$-3.7$("H(/:$*#(:*B:( ?#*-$'( *;d$-/3>9$( -$?:39"7?"#*;7( 397"( 3--".;/( H"#( 3( 7.>7/3;/*39(?3#/("H(#$/3*9(?:3#23-4(739$7)( =( ?*9"/( 7/.&4( 3/( /:$( ^3/*";39( 8"7?*/39( H"#( K#"?*N -39(X*7$37$7(T^8KXU(*;(83;"*(TC__INC__]U(377$77$&( ϐ N 3B$7( ?$#( <__( >$&( &347( TXXXi<__( >$&( &347U( H"#( /:$( GG( S*;&7( "H( 3;/*>*"/*-7( .7$&( l.;?.>9*7:$&( &3/3( ^8KXm)((K:$(2"7/(-"22";94(.7$&(3;/*>*"/*-7(*;("#N

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

ȀͳͲͲ ʹͲͲͻ ϐ T<_G)aLU'(-$H/#*3,";(TIc)]LU'(&",4-4-9*;(TMC)cIU'(32N ?*-*99*;(T±7.9>3-/32U(TGI)IM(3;&(Gc)LM'(#$7?$-/*0$94U'( 3V*/:#"24-*;( TGC)c]U'( *2*?$;$2( TCC)cIU'( -$H"?$#3N V";$(TCC)<GU(3;&(7/#$?/"24-*;$(TC<)]k(!*B.#$(LU)(K:$( .7$("H(/:$(7$0$;(2"7/(?"?.93#(3;/*>*"/*-7(*;-#$37$&( 392"7/(/%"NH"9&(*;(C__](-"2?3#$&(/"(C__I)(K:$(.7$( ϐ ͹͸Ǥͷ ͳʹͷǤ͸ XXXi<__(>$&(&347(3;&(/:3/("H(/:*#&(B$;$#3/*";(-$?:N 39"7?"#*;7(H#"2(ML)G(3;&(<CG)c(XXXi<__(>$&(&347)( A$#"?$;$2( .7$( *;-#$37$&( 3>"./( $*B:/NH"9&( *;( C__]( Ta)I(XXXi<__(>$&(&347U(-"2?3#$&(/"(C__I(T_)]i<__( >$&(&347U)(!*#7/(3;&(7$-";&(B$;$#3/*";(-$?:39"7?"N #*;7( 3;&( 32?:$;*-"97( %$#$( .7$&( 9*//9$( *;( /#$3/2$;/( T1$$(!*B.#$(aU)(!*B.#$(I(7:"%7(/:3/(/:$(3;/*>*"/*-(.7$( ?$3S$&( *;( /:$( 2";/:7( q.;$'( q.94( 3;&( ^"0$2>$#( *;( C__])

MHYH&I',G5+"$&=*+5#5'+53&12G%*05@ +4.%&Z"+" =--"#&*;B(/"(/:$(A"8(&3/3(";(:"7?*/39(&#.B(739$7( *;(C__]'(3;/*>*"/*-7(-";7/*/./$&(LM(?$#-$;/("H(:"7?*N /39(/#$3/2$;/($,?$;&*/.#$(T#3;B*;B(H#"2(L(?$#-$;/(/"( I](?$#-$;/'(K3>9$(]U)(=2";B(<__(#3;&"294(7$9$-/$&( :"7?*/397'(-$;/#39(:"7?*/397(7?$;&(";(30$#3B$(CM(?$#N -$;/(T#3;B$(H#"2(<_NGc(?$#-$;/U("H(/:$*#(&#.B(>.&B$/(

";(3;/*>*"/*-7)(K:$(9"%$7/(7:3#$("H(&#.B(>.&B$/(7?$;/( ";(3;/*>*"/*-7(%37(7$$;(*;(3(?74-:*3/#*-(:"7?*/39'(%*/:( L(?$#-$;/(3;&(/:$(:*B:$7/(7:3#$(%37(H".;&(3/(3(?$&*N 3/#*-(:"7?*/39(*;(8"(@:*(A*;:(@*/4'(3/(I](?$#-$;/)(=/( /:$(^3/*";39(8"7?*/39(H"#(K#"?*-39(X*7$37$7(T^8KXU'( 3(#$H$#$;-$(-$;/$#(H"#(*;H$-/*".7(&*7$37$7'(Lc(?$#-$;/( "H(/:$(/"/39(&#.B($,?$;&*/.#$(%37(";(3;/*>*"/*-7)(64( 9$0$9'(9"%$#(9$0$9(:"7?*/397(.7$(2"#$(3;/*>*"/*-7(/:3;( &"(:*B:$#(9$0$9(";$7'(3/(GL(?$#-$;/("H(&#.B(739$7aa)

3(%:"9$'(*7(;"/(4$/(S;"%;)(=(;$%(3;/*>*"/*-(#$7*7/3;-$( 7.#0$*993;-$(?#"B#32(*7(-.##$;/94(>$*;B(7$/(.?(>4(/:$( A"8( /"( -"99$-/( 3;/*>*"/*-( .7$( 3;&( 3;/*>*"/*-( #$7*7N /3;-$(&3/3(H#"2(C_(&*HH$#$;/(:"7?*/397(%*/:(2*-#">*N "9"B4(93>"#3/"#*$7)( =03*93>9$( #$7*7/3;-$( &3/3( H#"2( 7$0$#39( #$?"#/7( 3;&(?.>9*-3/*";7(3#$(?#$7$;/$&(>$9"%(3;&(*;(=??$;N &*,(6)(

M1")8139399'>$8*)'43*.,) !"#$%&`L&=*+5#5'+53&%2G%*05+4.%&5*&:',G5+"$,& 5*&MRR`&[0"+"&V'I\ )"+%K'.9

O48941K( B4841<?( H65>29<?5 O48941K( VSHFLÀF H65>29<?5 $16328;2<?K( B4841<?( H65>29<?5 $16328;2<?K( VSHFLÀF H65>29<?5

C.H&'(& =*+5#5'+53^ =6%."K%& :',G5+"$ !'+"$&0.4K&& [G%.3%*+\ %2G%*05+4.%& [G%.3%*+\

S%QR

( =*:%>,?)@*S

MHTH&=*+5#5'+53&>%,5,+"*3%&74.6%5$@ $"*3% @.##$;/94( /:$#$( *7( ;"( 3-/*0$( ;3/*";%*&$( 3;/*>*N "/*-(#$7*7/3;-$(7.#0$*993;-$(?#"B#32(*;(Y*$/;32)(K:$( 1%$&*7:( 5;/$#;3/*";39( X$0$9"?2$;/( =B$;-4( T15X=U( 3;&( /:$( A*;*7/#4( "H( 8$39/:( 7.??"#/$&( 3( #$7*7/3;-$( 7.#0$*993;-$( ?#"d$-/( H"#( <_( 4$3#7( T<]]M( b( C__MU( S;"%;(37(/:$(=;/*2*-#">*39(1$;7*/*0*/4(K$7/*;B(1/.&4( T=1K1U)(8"7?*/397(H#"2(&*HH$#$;/(#$B*";7(/:#".B:"./( Y*$/;32( ?3#/*-*?3/$&( *;( =1K1'( ?#"&.-*;B( 4$3#94( #$N ?"#/7)(K:$(*2?3-/("H(/:$7$(#$?"#/7'(3;&(/:$(?#"d$-/(37(

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

5;(B$;$#39'(?$;*-*99*;(#$7*7/3;-$(*;(."#F%/*7(%,3/( *7($,/#$2$94(:*B:(*;(Y*$/;32)(=(7/.&4(*;(8"(@:*(A*;:( -*/4(7:"%$&(/:3/(?$;*-*99*;(;";N7.7-$?/*>9$(?;$.2"N -"--.7( *7"93/$&( H#"2( >9""&( 3;&( @1!( *;-#$37$&( H#"2( I(?$#-$;/(T<]]LN<]]cU(/"(cM(?$#-$;/(T&.#*;B(<]]]N C__CUaI)(5;(C___NC__<'(Y*$/;32(7:"%$&(/:$(:*B:$7/( ?#$039$;-$( "H( ?$;*-*99*;( #$7*7/3;-$( Ta<)GjU( 32";B( <<(=7*3;(-".;/#*$7a])((E$7*7/3;-$(#3/$7(3#$(CC(/*2$7( :*B:$#( *;( .#>3;( -:*9&#$;( 37( -"2?3#$&( /"( #.#39( -:*9N &#$;I_)( Z*/:*;( /:$( =7*3;( ^$/%"#S( H"#( 1.#0$*993;-$( "H( E$7*7/3;/( D3/:"B$;7( T=^1FEDU'( Y*$/;32( :3&( /:$( :*B:$7/(?#$039$;-$("H(?$;*-*99*;(#$7*7/3;-$(Ta<)G(?$#N -$;/U(3;&($#4/:#"24-*;(#$7*7/3;-$(T]C)<(?$#-$;/U( a])( Ǧϐ /:#$$("#(2"#$(-9377$7("H(3;/*>*"/*-7cM)(5;(C__]'(2"7/( ?;$.2"-"--*(%$#$(7/*99(7.7-$?/*>9$(/"(-$H/#*3,";GG)(

ϐ ȋ Ȍ 8*>( *7"93/$7( -.9/.#$&( H#"2( /:$( -$#$>#39( 7?*;39( ϐ 83;"*( TC___NC__CU( 7:"%$&( /:3/( ca( ?$#-$;/( %$#$( ȾǦ Ǧ Ǧ N /3;/I<)(1*2*93#(#$7*7/3;/(#3/$7(%$#$(H".;&(*;(-:*9&#$;( %*/:(3-./$(9"%$#(#$7?*#3/"#4(/#3-/(*;H$-/*";7(*;(^:3( K#3;BIC)

O*1)"3B,91)".,9),) 5;(C__G'(3/(3(7.#B*-39(:"7?*/39(*;(8"(@:*(A*;:(@*/4( <G)a( ?$#-$;/( "H( O#32N;$B3/*0$( *7"93/$7( ?#"&.-$&( +16J)(=2";B(/:$(+16J(?#"&.-$#7'(a_(?$#-$;/(%$#$( ͹ʹǤͷ ϐ N 3-*;(#$7*7/3;/IL)(5;(3;(377$772$;/("H(/:$(?#$039$;-$("H(

#$7*7/3;-$(/"(>#"3&N7?$-/#.2(-$?:39"7?"#*;7(32";B( L"# +(4,'( T"# F%/*7(%,3/( 3;&( ǡ( H#"2( C___NC__<(*;(8"(@:*(A*;:(-*/4'(*/(%37(H".;&(/:3/("0$#( Cc(?$#-$;/(%$#$(#$7*7/3;/(/"(/:*#&(B$;$#3/*";(-$?:3N 9"7?"#*;7(3;&(<M(?$#-$;/(%$#$(#$7*7/3;/(/"(-$H"?$#3N V";$IG)( =;"/:$#( 7/.&4( *;( 8"( @:*( A*;:( -*/4( #$?"#/$&( /:3/( GC(?$#-$;/("H(7/.&*$&($;/$#">3-/$#*3-$3$(%$#$( #$7*7/3;/( /"( -$H/3V*&*2$'( ML( ?$#-$;/( %$#$( #$7*7/3;/( /"(B$;/32*-*;(3;&(aG(?$#-$;/(/"(;39*&*,*-(3-*&)(K:$7$( :*B:(#$7*7/3;-$(#3/$7(%$#$(397"(H".;&(*;(:$39/:4(*;&*N 0*&.397(*;(-"22.;*/4(7$//*;B(Ic)

M/.&);;, 8*B:( #$7*7/3;-$( #3/$7( 3#$( 397"( H".;&( *;( 7:*B$993( *7"93/$&(H#"2(7/""9[((/#*2$/:"?#*2N7.9H32$/:",3V"9$( TI<( ?$#-$;/U'( /$/#3-4-9*;$( TaG( ?$#-$;/U'( 32?*-*99*;( ȋͷ͵ Ȍǡ ϐ ȋͳͲ Ȍǡ N 3,";$(Tc(?$#-$;/UIM)(A"#$(/:3;(ac(?$#-$;/(3#$(#$7*7N /3;/(/"(2"#$(/:3;(";$(&#.BIa)(5;(3;"/:$#(7/.&4(-3#N #*$&("./(*;(7"./:(Y*$/;32(TC__MNC__IU'(*/(%37(7$$;( /:3/(<c)L(?$#-$;/(%$#$(-$H/#*3,";$(#$7*7/3;/II)(

M,;43*);;,$1(8/. 5;(Y*$/;32'(/:$(?#"?"#/*";("H(2.9/*&#.B(#$7*7/3;/( ."#&5F1,(7/#3*;7(#$23*;$&(:*B:(3/(c_(?$#-$;/(*;(C__G)( ^39*&*,*-(3-*&(#$7*7/3;-$(*;-#$37$&(*;(<C(4$3#7(H#"2(G( ?$#-$;/(/"(]a(?$#-$;/(*;(C__c(I])(=;"/:$#(7/.&4(-";N ϐ ͺͲ ."&5F1,(*7"93/$7( %$#$(#$7*7/3;/(/"(;39*&*,*-(3-*&]_)(

MH`H&=*+5#5'+53&B,%&5*&=K.534$+4."$& =*58"$,&"*0&<$"*+, (YLGHQFH RI 8VH =( 93#B$( ;.2>$#( "H( ?:3#23-$./*-39( ?#"&.-/7( 3#$( .7$&( *;( 3;*2397'( *;-9.&*;B( 3;/*>*"/*-7'( 0*/32*;7( 3;&( 3;/*N?3#37*/*-( &#.B7)( =;/*>*"/*-7( 3#$( /:$( 2"7/( -"2N 2";(#$B*7/$#$&(&#.B7(Ta_(?$#-$;/("H(399(&#.B7U(.7$&( *;(3;*2397]<)(1$0$;/4N7$0$;(?$#-$;/("H(399(&#.B7(.7$&( *;( 3;*2397( 3#$( ?#"&.-$&( 9"-3994( 3;&( CL( ?$#-$;/( 3#$(

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

*2?"#/$&)(^"(&3/3(3#$(303*93>9$(";(3;/*>*"/*-(.7$(*;( 3B#*-.9/.#$'( >./( */( *7( S;"%;( /"( >$( %*&$7?#$3&)( K:$( X./-:(B"0$#;2$;/($7/*23/$&(/:3/(a__(B#327("H(3;N ϐ 7$0$;(/*2$7(:*B:$#(/:3;("/:$#(;3/*";7(lE$?"#/(H#"2( /:$( !""&( =&2*;*7/#3/*";'( ^$/:$#93;&7'( C__]'( -"&$( YZ=i6.EiC__]i<L<IMm)(+9$0$;(B#".?7("H(3;/*>*"/N *-7(3#$(.7$&(*;(3B#*-.9/.#$'(*;-9.&*;B(3;/*>*"/*-7(/:3/( 3#$(397"(.7$&(/"(/#$3/(:.23;(*;H$-/*".7(&*7$37$7)(=;N ǣ ȾǦ ǡ N ǡ ǡ ǡ ȋϐ Ȍ ǡ ?:$;*-"97'( ?"9424,*;7( T-"9*7/*;U'( ?9$.#"2./*9*;7'( 9*;-"732*&$7'(7.9H32*&$7'(&*32*;"?4#*2*&*;$(T/#*2N $/:"?#*2U]<)( =;/*>*"/*-7( 3#$( .7$&( *;( 399( >#$$&*;B'( >"/:( 93;&N >37$&(3;&(3`.3-.9/.#$'($0$;(/:".B:(7.-:(.7$(*7(;"/( 7.??"#/$&(>4(/:$(A*;*7/#4("H(=B#*-.9/.#$)(K:$(3;/*>*N "/*-7(.7$&(3#$[(/49"7*;(T<M(?$#-$;/U'(32",*-*99*;( T<C( Ȍǡ ȋͻ Ȍ ϐ ȋ͹ N -$;/U'(?$;*-*99*;(TM(?$#-$;/U'(9*;-"24-*;(TM(?$#-$;/U'( /*32.9*;(TM(?$#-$;/U'(-"9*7/*;(Tc(?$#-$;/U'(7/#$?/"24N ȋͷ Ȍǡ ϐ ȋͷ Ȍǡ ȋͶ Ȍǡ ȋͶ Ȍ ϐ TL(?$#-$;/U)(!"#/4NH".#(?$#-$;/("H(3;/*>*"/*-(7$9$-/*";( 3;&( &"73B$( *7( &$-*&$&( .?";( >4( /:$( >#$$&$#'( >37$&( ";(/:$*#($,?$#*$;-$)(K:*#/4N/:#$$(?$#-$;/(H"99"%(/:$( ?#$7-#*?/*";("H(0$/$#*;3#*3;7(3;&(<a(?$#-$;/(H"99"%( #$-"22$;&3/*";7( H#"2( 3( 7.??9*$#( "#( 23;.H3-/.#$#)( !3#2$#7( "H/$;( &"( ;"/( -"2?94( %*/:( #$B.93/*";7( /:3/( #$`.*#$(/:$2(/"(7/"?(3;/*>*"/*-(.7$(>$H"#$(:3#0$7/*;B( /:$*#(?#"&.-/7]<) 5;(3(7.#0$*993;-$(7/.&4(-";&.-/$&(3/(L_(?*B(H3#27( 3;&(L_(-:*-S$;(H3#27(*;(8.;B(o$;(3;&(83(K34(?#"0N *;-$7'( M_( ?$#-$;/( "H( ?*BN&$#*0$&( ?#"&.-/7( 3;&( a_( ?$#-$;/( "H( -:*-S$;N&$#*0$&( ?#"&.-/7( %$#$( H".;&( /"( >$( -";/32*;3/$&( %*/:( /$/#3-4-9*;7( "#( /49"7*;7]<)( =( H$%( /$7/$&( 732?9$7( $,-$$&$&( ?$#2*77*>9$( -";-$;N /#3/*";7)( =;/*>*"/*-( -";/32*;3/*";( %37( ?#$039$;/( *;( cc(?*B(H3#27(3-#"77(X";B(^3*(3;&(6*;:(X.";B(?#"0N *;-$7'(cC(?$#-$;/("H(/$7/$&(732?9$7(-";/3*;$&(/49"7*;'( G<(?$#-$;/(/$/#3-4-9*;'(a(?$#-$;/(",4/$/#3-4-9*;(3;&( C( ?$#-$;/( -:9"/$/#3-4-9*;)( 7"2$( 732?9$7( -";/3*;$&( 3;/*>*"/*-(9$0$97(3>"0$(3--$?/3>9$(9*2*/7]<)( K:$( ^3/*";39( =B#"N!"#$7/#4N!*7:$#*$7( g.39*/4(

=77.#3;-$( X$?3#/2$;/( T^=!g=XU( ?#"&.-$7( 4$3#94( ϐ ǡ %*/:( *;/$#;3/*";39( #$B.93/*";7( H"#( $,?"#/)( K:*7( #$N ?"#/(7/3/$7(/:3/(9*2*/$&(3;/*>*"/*-(#$7*&.$7(:30$(>$$;( &$/$-/$&( *;( 3`.3-.9/.#$( *;-9.&*;B[( `.*;"9";$7( 3;&( 7.9H";32*&$7'(%:*-:(3#$(%*&$94(.7$&(*;(3`.3-.9/.#$)( A"7/( "H( #$7*&.$7( %$#$( %*/:*;( 3--$?/3>9$( 9*2*/7( >./(( `.*;"9";$7( %$#$( 7"2$/*2$7( H".;&( 3/( <I( /*2$7( /:$( 399"%$&( 9*2*/]C)( E$7*&.$7( "H( >3;;$&( 3;/*>*"/*-7( 3#$( #3#$94(&$/$-/$&'(7.BB$7/*;B(/:3/($,?"#/(#.9$7(?#"0*&$( *;-$;/*0$7(H"#(>$//$#(.7$("H(3;/*>*"/*-7)((8"%$0$#'(";$( 7.#0$4( H".;&( -:9"#32?:$;*-"9( -";/32*;3/*";( *;( 3( 93#B$( ?#"?"#/*";( "H( %3/$#( 732?9$7'( *;&*-3/*;B( /:3/( /:*7( >3;;$&( &#.B( *7( 7/*99( >$*;B( .7$&]<)( 1$$( 3??$;&*,( @(TK3>9$(<CU)

!"#$%&JRL&D*3%*+56%,&('.&4,5*K&"*+5#5'+53,&5*& "K.534$+4.% D*3%*+56%, N61(A54 '68%A54 %!16G9H(>16J69268( %"?9418<9234(J49H6=5(761( WJ614(>16=A;9(761(?299?4( <;H24328B(>16=A;9I5(H2BH( DGGLWLRQDO FRVWV MA<?29@( %"55AJ>9268(9H<9(( %#4=A;4(>1455A14(761( MA<?29@(67(>16=A;9(( <892:2692;(145259<8;4(28( 2J>16345( :69H(<82J<?(<8=(HAJ<8( %*8;14<54(4P>619(( %O6J>?@(G29H(9H4(1A?45( 9A18%6341( 67(,)"(<8=(F,(J<1E49( %O68916?(L668692;( %06(869(844=(96(J682% ><9H6B485(( 961(1452=A4(67(<892:2692;5( %)<34(J684@

5HDVRQV ,QFHQWLYHV IRU $QWLELRWLF ,54(28("B12;A?9A14 5;( 3B#*-.9/.#$'( *;-9.&*;B( 3`.3-.9/.#$'( 3;/*>*"/N *-7(3#$(.7$&($,/$;7*0$94(37(B#"%/:(?#"2"/$#7'("#(H"#( ?#"?:493,*7(3;&(/#$3/2$;/)(=--"#&*;B(/"(/:$(^3/*";N ϐ ȋ ǡ ʹͲͲͳȌǡ B#"%/:(?#"2"/$#7(3#$(.7$&(/"(Q:$9?(B#"%*;B(3;*2397( ϐ ǡ N ϐ :$39/:4( *;&*0*&.397R]L)( D*B7( 3;&( ?".9/#4( 3#$( 7.??9$N 2$;/$&( %*/:( 3;/*>*"/*-7( 7.-:( 37( /$/#3-4-9*;( 3;&( /4N 9"7*;]<Ǥ ǡ ϐ 3;&(7.9H";32*&$7]C)( ( E$B.93/*";( "H( 3;/*>*"/*-( .7$( *;( 3;*2397( :37( *;N -#$37$&( 3;&( -$#/3*;( 3;/*>*"/*-7( :30$( >$$;( >3;;$&( 7*;-$(Y*$/;32(>$-32$(3(2$2>$#("H(Z"#9&(K#3&$(F#N B3;*V3/*";( *;( C__a)( =--"#&*;B( /"( B"0$#;2$;/( #$B.N 93/*";7'(%:$;(#$7*&.$7("H(>3;;$&(3;/*>*"/*-7($,-$$&( /:$( 79"%$&( 9*2*/7'( H3#27( %*99( >$( ?#":*>*/$&( H#"2( :3#0$7/*;B'(?#"-$77*;B(3;&($,?"#/*;B(?#"&.-/7(.;/*9( ϐ Ǥ ͳͲ "H(/:$(*;-$;/*0$7(H"#(.7*;B(3;/*>*"/*-7(*;(3B#*-.9/.#$)

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

%O68;418(761(H4<?9H

$QWLELRWLF 5HVLVWDQFH LQ )RRG *8=A591@ !""&N>"#;$( &*7$37$7( 3#$( 3;( *2?"#/3;/( -3.7$( "H( 2"#>*&*/4( 3;&( 2"#/39*/4( %"#9&%*&$)( !""&( -";/32*N ;3/*";( %*/:( 3;/*>*"/*-N#$7*7/3;/( >3-/$#*3( -3;( >$( 3( 23d"#( /:#$3/( /"( ?.>9*-( :$39/:)( 5;( 3( 7/.&4( -";&.-/$&( /"( &$/$#2*;$( /:$( ?#$039$;-$( "H( .347(%/443( 7??( 3;&( L"#+(4,(*;(#3%(H""&7(-"22";94(7"9&(*;(/:$(23#S$/(*;( 8"( @:*( A*;:( @*/4( TC__GU'( -";/32*;3/*";( %37( -"2N 2";[( M_)I( ?$#-$;/( "H( 2$3/( 3;&( <I( ?$#-$;/( "H( 7:$99N ϐ .347(%/443# 3;&( 2"#$( /:3;(]_(?$#-$;/("H(399(H""&(7".#-$7(-";/3*;$&(L"#+(4,)( A.9/*#$7*7/3;/(.347(%/443(%$#$(*7"93/$&(H#"2(399(H""&( /4?$7]G'( ]c)( ( 5;( 63-( ^*;:( ?#"0*;-$'( 399( -32?49">3-/$#( *7"93/$7( H#"2( -:*-S$;7( %$#$( H".;&( /"( >$( #$7*7/3;/( /"(-$?:39"/:*;'(]_(?$#-$;/(/"(;39*&*,*-(3-*&'((I](?$#N ǡ ͺʹ ϐ ]M)( K%$;/4N";$(?$#-$;/("H(H""&(*/$27(-"99$-/$&(H#"2(/:$( A$S";B(X$9/3(%$#$($,32*;$&(H"#(3;/*2*-#">*39(#$7*7N /3;-$(/"(<_(3;/*>*"/*-7'(3;&(C<(?$#-$;/(%$#$(#$7*7/3;/( /"(3/(9$37/(";$]a)(

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ϐ ϐ ϐ N "/*-( .7$)( +0$;( %*/:*;( /:$( :$39/:( -3#$( 7$-/"#( 9*2*/$&( S;"%9$&B$( "H( 3??#"?#*3/$( *;&*-3/*";7( H"#( 3;/*>*"/*-( /#$3/2$;/( 3;&'( 93-S( "H( *;H#37/#.-/.#$( H"#( 93>"#3/"#4( ϐ %*&$7?#$3&'( "H/$;( *;3??#"?#*3/$( .7$)( E$B.93/*";7( /:3/( -";/#"9( 3--$77( /"( 3;/*>*"/*-7( $;H"#-$2$;/( :30$( >$-"2$(*;$HH$-/*0$(&.$(/"(/:$(93-S("H(-3?3-*/4(3;&($HN H$-/*0$(?$;39/*$7) K:$#$(*7(3(:*B:(?#$039$;-$("H(3;/*>*"/*-(#$7*7/3;/( >3-/$#*3(*;(Y*$/;32)(K:*7(*7(392"7/(-$#/3*;94(3(-";7$N `.$;-$( "H( /:$( :*B:( 9$0$97( "H( 3;/*>*"/*-( .7$'( 2.-:( "H( %:*-:(*7(*;3??#"?#*3/$)(Z:*97/(3;/*>*"/*-(.7$(*;(3;*N 2397(*7(%*&$7?#$3&'(/:$(#"9$(/:*7(?9347(*;(#$7*7/3;-$( 9$0$97(*;(:.23;(?3/:"B$;7(#$23*;7(.;-9$3#(*;(Y*$/N ;32( 3;&( "/:$#( -".;/#*$7)( =7( 3( -";7$`.$;-$( "H( /:$( :*B:( #3/$7( "H( #$7*7/3;-$'( 23;4( 3;/*>*"/*-( #$B*2$;7( 3&0*7$&(*;(-.##$;/(/#$3/2$;/(B.*&$9*;$7(3#$(.;9*S$94( /"( >$( $HH$-/*0$)( =9/:".B:( 0$#4( :3#&( /"( `.3;/*H4'( /:$( ϐ .;&".>/$&94( -3.7$7( ;$B3/*0$( :$39/:( 3;&( $-";"2*-( *2?3-/7)(

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

!"#$%&JJL&!:.%"+,&"*0&'GG'.+4*5+5%,&5*&& 3'*+.'$$5*K&"*+5#5'+53&.%,5,+"*3% AGG'.+4*5+5%, )'884*5+9 D614(G4?7<14 %HWWHU FRPPXQLFDWLRQ W28941849(<8=(J6:2?4( SKRQHV ZLGHO\ DYDLODEOH

+LJKHU GHPDQG IRU ( :49941(H4<?9H(;<14

!:.%"+, )'884*5+9 D614(;683482489(96(B6( 96(>H<1J<;@ $661(E86G?4=B4( $661(<;;455(96(<;;A1<94( 28761J<9268

<:".8"39 OH<8B45(28(;A112;A?AJ( >H<1J<;@(5;H66?5

<:".8"39 *8;489234(96(=25>4854 $661(E86G?4=B4(

!$$(28292<9234 $H<1J<;632B2?<8;4( ;48941

$661(<;;455(96(B66=( 28761J<9268 .299?4(92J4(5>489(68( <892:2692;5(<8=(145259<8;4( =A128B(91<2828B

V%053"$&,9,+%8 OH<8B45(28(;A112;A?AJ( J4=2;<?(5;H66?5 *8;14<54=(<;;455(96( =2<B86592;5 *874;9268(;68916?(( 28292<92345 \2??28B8455(96(2J>1634 .<:(48H<8;4J489(( >16B1<J5

V%053"$&,9,+%8 *8;489234(96(>145;12:4 .299?4(7A8=28B(761(( 5A1342??<8;4 $661(MA<?29@(145259<8;4( 945928B $661(E86G?4=B4( $661(<;;455(96(B66=( 28761J<9268 -A9%=<94=(BA2=4?2845 .299?4(92J4(5>489(28(( J4=2;<?(5;H66?5(68(( <892:2692;5(<8=(145259<8;4

PHMH&<'$539&=*"$9,5, K:$(;$$&(H"#(?"9*-*$7(/"(-";/#"9(/:$(.7$("H(3;/*>*N "/*-7(*7(-9$3#94(#$-"B;*V$&(>4(/:$(?"9*/*-39(3;&(2$&*-39( 9$3&$#7:*?("H(Y*$/;32'(3;&(/:$#$(3#$(23;4($,32?9$7( "H(9$B*793/*";(3;&(*;*/*3/*0$7(&$7*B;$&(/"(9*2*/(.;;$-N $773#4(3;/*>*"/*-(.7$(T7$$(/3>9$(<CU)(8"%$0$#'(d.&B$&( 3B3*;7/( /:$*#( *;/$;&$&( B"39'( /:$7$( ?"9*-*$7( :30$( ;"/( >$$;( $HH$-/*0$)( F0$#( /:$( -".;/$#( 739$7( "H( 3;/*>*"/*-7( H"#(2*;"#(*99;$77$7(*7($,/#$2$94(-"22";'(3;/*>*"/*-(

.7$(*;(:"7?*/397(*7(:*B:'(3;&(#$7*7/3;-$(#3/$7(3#$(*;N -#$37*;B)( X$7?*/$( ;.2$#".7( ?"9*-4( *;*/*3/*0$7'( /:$#$( *7(;"(&".>/(/:3/(3;/*>*"/*-(#$7*7/3;-$(*7(3(7$#*".7(3;&( B#"%*;B(?#">9$2(H"#(Y*$/;32)( K:$( 23d"#*/4( "H( ?"9*-4( *;*/*3/*0$7( /#*$&( /"( &3/$( -3;(>$(-3/$B"#*V$&(37(#$B.93/*";'(%:*9$(/:$(&#.B(3;&( :$39/:( -3#$( 23#S$/7( :30$( $,?$#*$;-$&( -";7*&$#3>9$( &$N#$B.93/*";)(K:$(#$B.93/*";7(/"(*2?#"0$(3;/*>*"/*-( .7$( 3;&( *;H$-/*";( -";/#"9( 3#$( ;"/( $;H"#-$&( 3;&( */( *7( *2?"#/3;/( /"( .;&$#7/3;&( %:3/( /:$( >3##*$#7( 3#$( H"#( ȋ Ǥ Ǥǡ ϐ ǡ ǡ ǡ ϐ N ȌǤ ϐ -";7$`.$;-$7(/"(7$99$#7(3;&(#$&.-$&(3--$77(/"(:$39/:( -3#$( H"#( /:$( ?"?.93/*";( 7:".9&( 7.-:( #$B.93/*";7( >$( $;H"#-$&)( K:$( &$N#$B.93/*";( "H( /:$( :$39/:-3#$( 7$-/"#( 234( :30$(;$./#39*V$&(9$B*793/*";(/"(-";/#"9(3;/*>*"/*-(.7$)( =97"( /:$( :*B:( *;&*0*&.39( "./N"HN?"-S$/( $,?$;&*/.#$( 234( :30$( *;-#$37$&( -";7.2$#7( &$23;&( /"( /:$( 7$#N 0*-$(/:$4(%3;/(3;&(%$3S$;$&(/:$(?"%$#("H(/:$(1/3/$( ϐ Ǥ "./N"H(?"-S$/($,?$;&*/.#$(/:#".B:(:$39/:(*;7.#3;-$( 234( #$&.-$( /:$( 3>*9*/4( "H( *;&*0*&.39( -";7.2$#7( /"( 7:3?$(/:$(:$39/:(-3#$(23#S$/(3;&(2*B:/(/:$#$H"#$(>$( ϐ Ǥ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`.$7( 2*B:/( >$( .7$&( Ǥ ϐ N /*39( 9$3&$#7( %*/:*;( /:$( 2$&*-39( 3;&( ?:3#23-$./*-39( ?#"H$77*";7(2*B:/(-3/394V$(-:3;B$(>4(7$//*;B(?.>9*-( $,32?9$7("H(>$7/(?#3-/*-$)(1/#";B$#(?#"&.-/(93>$9*;B( ";(?#$7-#*?/*";N";94(2$&*-*;$7(2*B:/(>$($HH$-/*0$(*;(

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

:*B:9*B:/*;B(/:$(?"/$;/*39(7*&$($HH$-/7(H"#(*;&*0*&.397( 3;&(H"#(7"-*$/4(H#"2(/:$(2*7.7$("H(3;/*>*"/*-7) K:$7$(3;&("/:$#(?"9*-4("?/*";7(;$$&(-3#$H.9(-";N 7*&$#3/*";(H"#(/:$*#(H$37*>*9*/4'(3HH"#&3>*9*/4(3;&(?"7N 7*>9$(3&0$#7$(*2?3-/7)(K:*7(%*99(>$(/:$(7.>d$-/("H(/:$( ;$,/(?:37$("H(/:$(O=EDNY*$/;32(3B$;&3)

PHPH&>%,%".3:&AGG'.+4*5+5%, 5/(*7(-9$3#(/:3/(3;/*>*"/*-(-";7.2?/*";(3;&(#$7*7N /3;-$( 9$0$97( 3#$( /""( :*B:( *;( Y*$/;32)( 8"%$0$#'( /:$( 303*93>9$( *;H"#23/*";( *7( ;"/( %$99( -"993/$&( 3;&( -"2N 2.;*-3/$&'( 3;&( 3( r7/#";B( 0"*-$W( 3&0"-3/*;B( H"#( 3-N /*";( 3B3*;7/( *;3??#"?#*3/$( 3;/*>*"/*-( .7$( *7( ;$$&$&)( K:$( 3>7$;-$( "H( &3/3( ";( /:$( :$39/:( 3;&( $-";"2*-( >.#&$;( #$7.9/*;B( H#"2( 3;/*>*"/*-( #$7*7/3;-$( 9*2*/7( /:$(7/#$;B/:7("H(3#B.2$;/7(H"#(7/#";B(3-/*";)(6$//$#( ϐ N /.#$(H"#(3;/*>*"/*-(?#$7-#*>*;B(%".9&(7.??"#/(/:$(&$N 7*B;(H"#(2"#$($HH$-/*0$(*;/$#0$;/*";7)( 637$&(";(/:$(7*/.3/*";(3;3947*7(3;&(/:$(S$4(*;H"#N ϐ ǡ ǣ ( <)( @#$3/*;B( 3( 7$;*"#( ?$$#( ;$/%"#S( ";( 3;/*>*"/*-( .7$( 3;&( #$7*7/3;-$[( K"( $7N /3>9*7:( *;H"#23/*";( 7:3#*;B( -:3;;$97( 32";B( 7$0$#39( ?#$7/*B*".7( :"7?*/397( *;-9.&*;B( 63-:( A3*'( ^8KX'( 8KX( 3;&( @:"(E34(*;(-"993>"#3/*";(%*/:(/:$(X#.B( =&2*;*7/#3/*";( 3;&( ^3/*";39( X5p=XE( @$;/$#( /"( ?#"&.-$( #$B.93#( #$?"#/7( ";( =6( .7$( 3;&( #$7*7/3;-$)( e?N/"N&3/$( B.*&$9*;$7( %".9&( >$( 23&$( 303*93>9$( /:#".B:( /:*7( ;$/%"#S( 3;&( "/:$#( #$9N $03;/(&"-.2$;/7) C)( 6.#&$;( "H( #$7*7/3;-$( 7/.&4[( K"( -3/N $B"#*V$(/:$(H$3/.#$("H(-"22";(?3/:"N B$;7(*;(7$0$#39(7$9$-/$&(:"7?*/397(3;&( 377$77( >.#&$;( "H( >3-/$#*39( #$7*7/3;-$)( K:$( 2"7/( ?"%$#H.9( 3#B.2$;/( /"( -";N 0*;-$( ?"9*-4( 23S$#7( *7( /"( 7:"%( /:3/( #$7*7/3;-$(-"7/7(2";$4(3;&(3;/*>*"/*-( 7/$%3#&7:*?(%*99(730$(2";$4(3;&(9*0$7)( K:$#$H"#$'( 7/.&*$7( ;$$&( /"( >$( .;&$#N

!"#$%&JML&E5,+&'(&34..%*+&G'$535%,&5*&?5%+*"8&'*&"*+5#5'+53&4,%&"*0&.%,5,+"*3%&"*0&3'8@ 8%*+, <'$539&'G+5'* "892:2692;5(<14(>145;12>9268(68?@(=1AB5C D<E4(<892:2692;5(>145;12>9268%68?@ D<E4(H65>29<?5I(=1AB(<8=(9H41<>4A92;5(;6JJ29944(47% 74;9234(

F59<:?25H(2874;9268%;68916?(;6JJ299445(28(H65>29<?5

+1<;E(8<9268<?(<892:2692;(145259<8;4

D682961(<892:2692;(A54(28(H65>29<?5

0434?6>(;A112;A?AJ(761(J4=2;<?(<8=(>H<1J<;@(5;H66?5 0434?6>(914<9J489(BA2=4?2845 F59<:?25H(>H<1J<;632B2?<8;4(;48941 O68=A;9(>A:?2;(4=A;<9268(;<J><2B8 )49(A>(3<;;28<9268(>16B1<J5

F8H<8;4(?<:61<961@(;<><:2?29245

OA1:(<892:2692;(A54(28(<B12;A?9A14

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

=3+5'* 0434?6>(8<9268<?(<;9268(>?<8(761(<892:2692;(145259<8;4C F8761;4(;A11489(?<GC (QIRUFH UHTXLUHPHQW IRU FRPPLWWHHV GHÃ&#x20AC;QH WKHLU 7A8;92685(<8=(59<8=<1=5K(<8=(=434?6>(<A=29(J4;H<% 825J5C(!234(;6JJ299445(966?5(<8=(BA2=<8;4(68( <892:2692;(594G<1=5H2>C($1632=4(A>%96%=<94K(<;;A1<94( 145259<8;4(=<9<C *LYH FRPPLWWHHV VXIÃ&#x20AC;FLHQW UHVRXUFHV WR FDUU\ RXW 9H421(<;92329245(<8=(2J>1634(2871<591A;9A14C(F59<:?25H( 59<8=<1=2L4=(28=2;<9615(96(J682961(>16B1455K(5A;H(<5( H65>29<?%<;MA214=(2874;9268(1<945(:@(=4><19J489(<8=( H<8=%G<5H28B(;6J>?2<8;4C 0434?6>(8<9268<?(945928B(<8=(MA<?29@(;68916?(BA2=4?2845C( NA8=(145259<8;4(945928BK(MA<?29@(;68916?K(91<2828BK(<8=( 14>61928BC(*55A4(<88A<?(8<9268<?(14>619(68(:69H(<892:2% 692;(A54(<8=(145259<8;4C( )9<8=<1=2L4(<892:2692;(A5<B4(28=2;<9615(96(289418<9268<?( XQLWV H J GHÃ&#x20AC;QHG GDLO\ GRVDJH SHU EHG GD\V *55A4(<88A<?(8<9268<?(14>619(68(:69H(<892:2692;(A54(<8=( 145259<8;4 +4<;H(<8=(91<28(>167455268<?5(68(<892:2692;(145259<8;4( <8=(<>>16>12<94(<892:2692;(A54C F85A14(92J4?@(<8=(432=48;4%:<54=(A>=<945(67(914<9% J489(BA2=4?2845(761(2874;926A5(=254<545C F8B<B4(>H<1J<;632B2?<8;4(;48941(28(;A1:28B(28<>>16% >12<94(<892:2692;(>145;12:28BC O14<94(<G<148455(<8=(4=A;<94(&2498<J454(>A:?2;( <:6A9(<>>16>12<94(<8=(28<>>16>12<94(<892:2692;(A54C ";H2434(H2BH(3<;;28<9268(;6341<B4(761(;6JJA82;<:?4( =254<545(96(>143489(:<;9412<?(2874;92685(9H<9(14MA214( <892:2692;(914<9J489C F85A14(MA<?29@(?<:61<961@(945928BC(O6852=41(459<:?25H% LQJ QDWLRQDO UHIHUHQFH FHQWHU FHQWHU RI H[FHOOHQFH 761(<892:2692;(145259<8;4(945928BC(O14<94(849G61E(761( 5H<128B(=<9<K(BA2=4?2845K(<8=(4P>419254C F8761;4(;A11489(?<GC()49(A>(8<9268<?(<892:2692;(A54(<8=( 145259<8;4(5A1342??<8;4(5@594JC(*55A4(<88A<?(8<9268<?( 14>619(68(:69H(<892:2692;(A54(<8=(145259<8;4C(0434?6>( 14BA?<92685(68(<892:2692;(A54(:47614(H<1345928BC

/3S$;( /"( 377$77( /:$( >.#&$;( "H( #$7*7N /3;-$(*;(Y*$/;32)( ?"383>)=$ M1'=(P( 377$77( >3-/$#*39( #$7*7/3;-$( "H( /:$(c(2"7/(-"22";(?3/:"B$;7(*;(>9""&'(@1!'(3;&(#$N 7?*#3/"#4(/#3-/(3;&(377$77(%:$/:$#(/#$3/2$;/(B.*&$N 9*;$7(3#$(3??#"?#*3/$)(=77$77(/:$(&*HH$#$;-$(*;(?#*-$( "H(&#.B7(/:3/(-".9&(3;&(7:".9&(>$(.7$&(3--"#&*;B(/"( /#$3/2$;/(B.*&$9*;$7(3;&(%:3/(*/(%".9&(-"7/(/"(/#$3/( ϐ ϐ Ǥ L)(+-";"2*-(*;-$;/*0$(7/#.-/.#$(H"#(7$99N *;B( 3;/*>*"/*-7( 3/( -"22.;*/4( #$/3*9( ?:3#23-*$7(3;&(*;(?#*03/$(-9*;*-7)(K"(>$( 7.--$77H.9( *;( -:3;B*;B( 3;/*>*"/*-( ?#$N 7-#*>*;Bi&*7?$;7*;B(>$:30*"#'(%$(:30$( /"(.;&$#7/3;&(/:$(*;-$;/*0$(7/#.-/.#$)( ϐ N "/*-(739$7'(3(9"/("H(2";$4(%*99(>$(9"7/(*H( 3;/*>*"/*-7(-3;(";94(>$(7"9&(%:$;(?#$N 7-#*>$&i&*7?$;7$&(3??#"?#*3/$94)(8"%( -3;(/:$7$(*;-$;/*0$7(>$(-:3;B$&s

-".;/#*$7'(/:$(;.2>$#("H(:".#7(7?$;/(*;(?#"H$77*";39( /#3*;*;B( -.##*-.93#( >4( &"-/"#7( 3;&( ?:3#23-*7/7( ";( 3;/*>*"/*-7'(3;&(/:$(-";/$;/("H(7.-:(-.##*-.9.2)(Z:3/( &"(&"-/"#7(3;&(?:3#23-*7/7(#$3994(S;"%(3>"./(3;/*N >*"/*-7s L)( K:$( 2"7/( *2?"#/3;/( 7/3S$:"9&$#( *;( 3;/*>*"/*-( .7$( *7( /:$( ?3/*$;/[( &"( /:$4( #$3994(%3;/(3;(3;/*>*"/*-s(5H(4$7'(%:4s( X"( /:$4( S;"%( %:3/( 3;( 3;/*>*"/*-( *7s( Z$( %".9&( 9*S$( /"( ;"/$( :$#$( /:3/( /:$( Y*$/;32$7$( %"#&( H"#( *;H$-/*";( *7( Ǯ ǯǤ ϐ %:$/:$#(-3.7$&(>4(3(?3/:"B$;("#(;"/)( Z:3/(*;H"#23/*";(%*99(/:$4(;$$&(/"(>$( -";0*;-$&(;"/(/"(.7$(3;(3;/*>*"/*-s ?"383>)=$M1'=(P$-"22.;*/4(7.#0$47(3;&(H"-.7( B#".?(&*7-.77*";7)

?"383>)=$ M1'=(P( 377$77( 3;/*>*"/*-( *;-"2$( "H( ?:3#23-*$7( >4( ">7$#0*;B( -.##$;/( 739$7)( Z*/:( 7/3S$N :"9&$#( 2$$/*;B7( 3;&( H"-.7( B#".?( &*7-.77*";7( %*/:( ȋ Ȍ ϐ ϐ Ǥ %:3/( *;-$;/*0$7iS;"%9$&B$( /:$4( 234( ;$$&( /"( &"( "/:$#%*7$) ϐ Ǥ K:$(-.##$;/(B#3;/(%*99(;"/(>$(3>9$(/"(-"0$#(/:$(H"99"%N *;B(?#"d$-/7) <)( K:$( :*B:$7/( 0"9.2$( "H( 3;/*>*"/*-7( .7$&( *;( Y*$/;32( *7( ?#">3>94( ;"/( *;( :.23;7( >./( 3;*2397)( 5/( *7( $77$;/*39( /"( :30$(/:*7(*;H"#23/*";(/"(>$(3>9$(/"(&$N 0$9"?(-";/#"9(?"9*-*$7) ?"383>)=$M1'=(P(377$77(3;/*>*"/*-(.7$(*;(&*HH$#N ǣ ǡ ǡ ϐ Ȁ N 93/$(/:*7(/"(#$7*7/3;-$(*;(:.23;7'(3;*2397(3;&(2$3/( 7"9&(";(23#S$/) C)( 5/( *7( -9$3#( /:3/( /:$( -.##*-.9.2i/#3*;N *;B( "H( &"-/"#7( 3;&( ?:3#23-*7/7( *7( *;N ϐ Ǥ ?"383>)=$M1'=(P$=77$77(3;&(-"2?3#$(%*/:("/:$#(

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

>%(%.%*3%, <)(Y*$/;32(3;&(+;$#B4[(52?#"0*;B(E.#39(+9$-/#*-*/4(D"%$#(1$#0*-$(g.39*/4(T://?[iiB")%"#9&>3;S)"#Bi F_EEgq]E8_U)(TC_<_U) C)(=X6(8$9?7(Lc_'___(?$"?9$(*;(-$;/#39(#$B*";(3--$77(/"(-9$3;(%3/$#(3;&(73;*/3/*";(T://?[ii%%%)#%77?)"#B) 0;i+îsK3>*&t\A^<=<p5Xtc]p@5XtMGp5X^tcM]U)((TC_<_U) L)(Y*$/;32N-".;/#4("0$#0*$%(T://?[ii7*/$#$7".#-$7)%"#9&>3;S)"#Bi5^KY5+K^=AiE$7".#-$7i Y*$/;32@".;/#4F0$#0*$%)?&HU)((TC__IU) G)(A*;"/'(^)'(63.9-:'(6)(p(+??#$-:/'(A)(D"0$#/4(3;&(*;$`.39*/4(*;(Y*$/;32[(1?3/*39(?3//$#;7(3;&(B$"B#3?:*-( ȋ ǣȀȀ Ǥ Ǥ Ȁ Ȁ Ȁϐ Ȁ Ȁ ͳͶͺǤ ȌǤ ȋʹͲͲ͵ȌǤ c)(Y*$/(^32(3;&(/:$(AXO7(T://?[ii%%%).;&?)"#B)0;i2&B7i0*$/N;32N3;&N/:$N2&B7is93;B.3B$5&tGU) M)(A3/$#;39(A"#/39*/4(*;(C__c(T+7/*23/$7(&$0$9"?$&(>4(Z8F'(e^5@+!'(e^!D=(3;&(K:$(Z"#9&(63;S'(://?[ii %%%)%:")*;/i%:"7*7i22$uC__c)?&HU)((TC__cU) a)(A*;:(K:3;B'(^)'(6:.7:3;'(5)'(69""2'(+)(p(6";.'(1)(@:*9&(*22.;*V3/*";(*;(Y*$/;32[(7*/.3/*";(3;&(>3##*$#7(/"( -"0$#3B$)(W#<,(6(+#.+,(QR'(G<NcI(TC__aU) I)(9$D#A3+&E((C#X1&&F6YZZBBB"+,3"@(KZ4,E'3'5ZF*E4,+3&,(%6Z&1/RB('4)R03+&E((CZ@/(6ZK7"1&74[) ])(X$0$9"?2$;/(D#"B#$77(*;(Y*$/;32(TK:$(Z"#9&(63;S[(://?[ii%$>)%"#9&>3;S)"#BiZ615K+i+nK+E^=Ji @Fe^KE5+1i+=1K=15=D=@5!5@+nKiY5+K^=A+nKî_''-";/$;/AX\[CCcL]L_Mv?3B$D\[<G]aM<Iv?*D\[ C<aIcGv/:$1*/$D\[LIacMc'__):/29U) <_)(K:.3;'(^)K)'(J"HB#$;'(@)'(J*;&:"92'(J)(p(@:.-'(^)K)(@:"*-$("H(:$39/:-3#$(?#"0*&$#(H"99"%*;B(#$H"#2(*;( Y*$/;32)( (S'(<MC(TC__IU) <<)(8"3'(^)g)'(F:23;'(=)'(J.;&>"#B'(@)1)(p(@:.-'(^)K)(X#.B(.7$(3;&(:$39/:N7$$S*;B(>$:30*"#(H"#(-:*9&:""&( *99;$77(*;(Y*$/;32NN3(`.39*/3/*0$(7/.&4)()(2/34&1#G(4,+5(IC'(LC_NLC](TC__aU) <C)(8$39/:(1/3/*7/*-7(o$3#>""S(C__I(TA*;*7/#4("H(8$39/:U)((TC__]U) <L)(=;;.39(E$?"#/("H(8"7?*/39W7(3-/*0*/*$7(TA$&*-39(1$#0*-$7(=&2*;*7/#3/*";NA*;*7/#4("H(8$39/:U)((TC__]U) ͳͶǤ ǡ Ǥ Ǥ ϐ W(*'%34#(0# <G'(C<LNC<M(TC_<_((T://?[ii/-4:)4&7)$&.)0;iC_<_i@:.4$;jC_&$jC_\8@6i Ô85j@LjI=^jC_@j+<j66j=IejC_Kj@LjI@AjC_Ôeoj@LjI=^jC_^8j@LjIC^jC_ 6j+<j66jIM^8jC_^8j@LjIC^):/2UU) ͳͷǤ ʹͲͲͺǣ ϐ ȋ ǡ O#".?U)((TC__IU) <M)(8$39/:(1/3/*7/*-(o$3#>""S(TA*;*7/#4("H(8$39/:U)((TC__IU) <a)(8$39/:(-3#$(%"#SH"#-$[(*;-#$37$(;.2>$#(:$9?(*;-#$37$(`.39*/4s(T://?[ii%%%)4S:"3;$/)-"2i/:"*7.i ;:3;9.-4/$i_I_M<Cu4S:"3;$/u;:3;9.-;B3;:4/$):/2U)((TC__IU) <I)(Q@:ҧ4(2w.(-:ҩ/(,w2(;:x;(9ӵ-(;By;:(4(/ӃR(T://?[ii%%%)/*;2"*)0;i9&`."@:34N23.N-:3/N,32#&`."N;B.";N ;:3;N9.-N4N/$N_G<LM<C):/29U)((TC_<_U) <])(D"/$;/*39(?:3#23-$./*-39(*;&.7/#4(T://?[ii%%%):*$.:"-)-"2i/*$2;3;B;B:$;B:*$?i-:*/*$/i/*$2N;3;BN ;B3;:N&."-NC__]N<CN<MU)((TC__]U) C_)(D:.";B'(^)\)(E$0*$%("H(!*;3;-*;B("H(8$39/:N-3#$'(*;-9.&*;B(8$39/:(D#"2"/*";)(D#"2"/*;B(1.7/3*;3>9$(

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

ϐ Ǥ ȋʹͲͲͺȌǤ C<)(^B.4$;'(\)D)(E$0*$%("H(!*;3;-*;B("H(8$39/:N-3#$'(*;-9.&*;B(8$39/:(D#"2"/*";)(D#"2"/*;B(1.7/3*;3>9$( ϐ Ǥ ȋʹͲͲͺȌǤ CC)(^B:ӏ ¯ӏ;:(7ӱ ¯ә*'(>ә(7.;B(2ӝ/(7ӕ ¯ Ӆ.((-ӫ 0 Ӆ.(9Ӌ(6ҧ"(:*Ӈ2(4(/Ӄ(>3;(:y;:(Sz2(/:$"(^B:ӏ ¯ӏ;:(7ӕ( ͸͵ȀʹͲͲͷȀ 0Ǧ ͳ͸ȀͷȀʹͲͲͷ ӫ3(@:{;:(?:ӫ) CL)(=&32'(1)q)(Y*$/;32W7(8$39/:(@3#$(147/$2[(=(A3-#"$-";"2*-(D$#7?$-/*0$)((TC__cU) CG)(@*#-.93#(^"(<IiC__IiKKN6oK[(#$B.93/*";(";(*;H$-/*";(-";/#"9(*;(:$39/:-3#$(*;7/*/./*";7(TA"8U)((TC__]U) ʹͷǤ ǡ Ǥǡ ǡ Ǥ Ǥ Ƭ ǡ Ǥ Ǥ Ǧϐ 3;&(3??9*-3/*";(/"(/#3*;*;B(?#"B#327)(W#$%0/+&#91/7(&1/'(<c'(LIGNLI](TC__]U) CM)(8.;B'(^)Y)(=(-#"77N7$-/*";39(7/.&4(";($`.*?2$;/(H"#(S;"%9$&B$(3;&(?#3-/*-$("H(:$39/:(-3#$(%"#S$#7(";( :3;&(:4B*$;$(3/(:"2$(:"7?*/397(*;(/:$(;"#/:("H(Y*$/;32'(C__c)(W(*'%34#(0#+4,%,+34#7/),+,%/(TC__IU) Ca)(^B.4$;(Y)(8.;B'(K)=)K)'(J$(K)(K)(K:.4'(^B.4$;(K)(^B3'(Y.(Y)(O*3;B'(^B.4$;(Y)(83'(D:32(J)(K.3;'(K#3;(g.4)( D#$039$;-$("H(3;&(#$93/*0$(H3-/"#7(H"#(;"7"-"2*39(*;H$-/*";7(*;(7"2$(:"7?*/397(*;(/:$(;"#/:("H(Y*$/;32'( C__MNC__a)(W(*'%34#(0#+4,%,+34#7/),+,%/#M(TC__IU) CI)(+039.3/*";("H(-"2?#$:$;7*0$(?#$0$;/*0$(?#3-/*-$(*;(7"2$(:$39/:(H3-*9*/*$7(TZ8F(3;&(63-:(A3*(:"7?*/39U)(( TC__GU) C])(8$39/:(@3#$(Z37/$(A3;3B$2$;/(*;(63-(O*3;B(D#"0*;-$NY*$/;32(C__MNC__I) ͵ͲǤ ϐ ȋ ǣȀȀ Ǥ Ǥ Ȁ ȀʹͲͲͺȀͲ͸Ȁͳ͵Ȁ 8"7?*/39Z37/$Z3/$#+;&7e?5;K:$E*-$!*$9&7)37?,U)((TC__IU) L<)(^$%(/$-:;"9"B*$7(H"#(:"7?*39(%37/$%3/$#(/#$3/2$;/(T^3/*";39(@$;/$#("H(1-*$;-$(3;&(K$-:;"9"B4( 5;H"#23/*";U)((TC__aU) LC)(8.";B'(X)J)'(A*;:'(8)Y)(p(64377'(D)(=??94*;B(0$#>39(3./"?74(/"(&$/$#2*;$(-3.7$("H(&$3/:(*;(#.#39(Y*$/;32)( .+3%)#W#G*E4,+#2/34&1#.*FF4(MC'(<]NCc(TC__LU) LL)(=;:'(X)X)($/(39)(1.#0$*993;-$("H(?;$.2"-"--39N377"-*3/$&(&*7$37$(32";B(:"7?*/39*V$&(-:*9&#$;(*;(\:3;:( 8"3(D#"0*;-$'(Y*$/;32)(94,%#$%0/+&#=,6(GI(1.??9(C'(1caNMG(TC__]U) ͵ͶǤ ǡ Ǥ Ǥ Ǥ ϐ ǡ Ǥ ͷ 4$3#7("9&(%*/:(3-./$(#$7?*#3/"#4(*;H$-/*";)( <G'(<GNCC(TC__GU) Lc)(D:3;(J)(K)(8.";B'(X)X)=)'(Y.(K)K)8.";B'(^B"(K)K:*'(K#3;(g)@3;:'(A34.2*(A3/7."S3'(\3V.;3#*(\323-:*'( K7./"2.(o323V3S*'(o"7:*-:*S3(=#3S3%3'(K7.B."(1373S*)(O$;$/*-(3;&(D:$;"/4?*-(@:3#3-/$#*V3/*";("H( ϐ Y*$/;32)()(W(*'%34#(0#$%0/+&,(*6#=,6/36/6#c]'(<<<N<<M(TC__MU) ͵͸Ǥ ǡ Ǥ Ǥ Ǥ ϐ ǡ ǣ Ǥ ϐ Ǥ (aG'(c_]N c<c(TC__MU) ͵͹Ǥ Ǥ Ǥ ǡ Ǥ Ǥ Ǥǡ Ǥ Ǥ ǡ Ǥ ǡ Ǥ ǡ Ǥ ϐ K4?$(>[(A"9$-.93#(6*"9"B*-39(@:3#3-/$#*7/*-7'(!32*9*39(@";/3B*".7(1".#-$)()( ( <c(TC__cU) LI)(F-:*3*'(J)(QK4?:"*&(Y3--*;$7[(@.##$;/(303*93>*9*/4'(?#"B#3223/*-(*77.$7'(-"7/7(3;&(03--*;$(?*?$9*;$R( ȋ Ǧ ϐ ȌǤ ȋʹͲͲͻȌǤ L])(A3*'(^)K)8)($/(39)(1/#$?/"-"--.7(7.*7(A$;*;B*/*7(*;(=&.9/7(*;(Y*$/;32)(94,%,+34#$%0/+&,(*6#=,6/36/6#GM'(Mc]N

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

MMa(TC__IU) G_)(^B.4$;'(K)8)($/(39)(X$,32$/:37";$(*;(Y*$/;32$7$(3&"9$7-$;/7(3;&(3&.9/7(%*/:(>3-/$#*39(2$;*;B*/*7)(S#L%@4# (Lca'(CGL<NCGG_(TC__aU) G<)(D:.";B'(X)A)(K:$(H$3/.#$("H(?3/:"B$;7(-3.7*;B(>3-/$#$2*3(*;(63-:(A3*(:"7?*/39NC__I(W(*'%34#(0#+4,%,+34# 7/),+,%/(GI'(LCNLI(TC_<_U) GC)(D:.";B'(X)A)(g.39*/4(*77.$7(*;(#$7*7/3;-$(/$7/*;B(3;&(&3/3(*;(Y*$/;32(TD#$7$;/3/*";(*;(/:$(<7/(O=EDW7( %"#S7:"?U)((TC__]U) GL)(E$?"#/(?"7*/*0$(>9""&(-.9/.#$(#$7.9/7(^3/*";39(8"7?*/39("H(K#"?*-39(X*7$37$7'(C__INC__]) GG)(X*$?'(K)1)(=;/*>*"/*-(#$7*7/3;-$(*;(8"7?*/39(K#"?*-39(X*7$37$(TD#$7$;/3/*";(*;(/:$(<7/(O=EDW7(%"#S7:"?U)(( TC__]U) Gc)(8"3'(^)g)($/(39)(=;/*>*"/*-7(3;&(?3$&*3/#*-(3-./$(#$7?*#3/"#4(*;H$-/*";7(*;(#.#39(Y*$/;32[(:$39/:N-3#$( ?#"0*&$#7W(S;"%9$&B$'(?#3-/*-39(-"2?$/$;-$(3;&(#$?"#/$&(?#3-/*-$)( (<G'(cGMNccc( TC__]U) GM)(^B.4$;'(6)A)($/(39)(@:"9$#3("./>#$3S7(-3.7$&(>4(3;(39/$#$&(Y*>#*"(-:"9$#3$(F<(+9(K"#(>*"/4?$(7/#3*;( ?#"&.-*;B(-9377*-39(-:"9$#3(/",*;(6(*;(Y*$/;32(*;(C__a(/"(C__I)( (Ga'(<cMIN<ca<(TC__]U) Ga)(Y.(^B.4$;'(K)'(J$(Y3;'(D)'(J$(8.4'(@)'(^B.4$;(O*3'(\)(p(Z$*;/#3.>'(=)(+/*"9"B4(3;&($?*&$2*"9"B4("H(&*3##:$3( *;(-:*9&#$;(*;(83;"*'(Y*$/;32)($%&#W#$%0/+&#=,6(TU'(C]INL_I(TC__MU) GI)(1"./:(+37/(=7*3(85Y(p(=5X1(1/3/*7/*-7(T://?[ii%%%)30$#/)"#Bi3*&7N:*0N7"./:N$37/N37*3):/2U) G])(K:$(/:*#&(-".;/#4(#$?"#/(";(H"99"%*;B(.?(/:$(*2?9$2$;/3/*";(/"(/:$(&$-93#3/*";("H(-"22*/2$;/(";(85Y( 3;&(=5X1)((TC__IU) c_)(J3;'(D)K)($/(39)(E$?#"&.-/*0$(/#3-/(*;H$-/*";7(*;-9.&*;B(7$,.3994(/#3;72*//$&(*;H$-/*";7[(3(?"?.93/*";N>37$&( 7/.&4("H(%"2$;("H(#$?#"&.-/*0$(3B$(*;(3(#.#39(&*7/#*-/("H(Y*$/;32)(./M#V'3%67#$%0/+&(IG'(<CMN<LC(TC__IU) c<)( ^B.4$;(Y)(8.;B'(K)=)K)'(^B.4$;(g)(=;:)(@9*;*-39(3;&($-";"2*-("./-"2$7("H(7.#B*-39(7*/$(*;H$-/*";7(*;(63-:( A3*(:"7?*/39)(W(*'%34#(0#+4,%,+34#7/),+,%/(V'(a]NIL(TC__IU) cC)(^B.4$;(Y)(8.;B'(K)=)K)'(J$(K)(K)(K:.4'(^B.4$;(K)(^B3'(Y.(Y)(O*3;B'(^B.4$;(Y)(83'(D:32(J)(K.3;'(K#3;(g.4)( D#$039$;-$("H(3;&(#$93/*0$(H3-/"#7(H"#(;"7"-"2*39(*;H$-/*";7(*;(7"2$(:"7?*/397(*;(/:$(;"#/:("H(Y*$/;32'( C__MNC__a)(W(*'%34#(0#+4,%,+34#7/),+,%/(V(TC__IU) cL)(K#.";B(=)(K:.'(^)Y)8)(D#$039$;-$("H(;"7"-"2*39(*;H$-/*";7(3;&(*/7(#$93/*0$(H3-/"#7(*;(63-:(A3*(:"7?*/39(*;( C__M)(W(*'%34#(0#+4,%,+34#7/),+,%/#V'(c<NcM(TC__MU) cG)(J$(K:*(=;:(K:.'(Y)K)@)A)'(^B.4$;(D:.-(K*$;'(X3;B(K:*(Y3;(K#3;B)(E$7*7/3;-$($039.3/*";("H(?3/:"B$;7( -3.7*;B(8=57)(W(*'%34#(0#F'3+&,+/#7/),+,%/(c]G'(<]NCL(TC__I)U) cc)(Y.(Y)(O*3;B'(K)=)K)'(^B.4$;(Y)(8.;B)(D#$039$;-$("H(^"7"-"2*39(5;H$-/*";(*;(/:$(O$;$#39(X*$;(6*$;'(8"3(6*;:( 3;&(g.3;B(^*;:(:"7?*/39(*;(C__c)(W(*'%34#(0#+4,%,+34#7/),+,%/(V'(GMNc_(TC__IU) cM)(Y*$/;32(8$39/:(5;H"#23/*";(147/$2(E$0*$%(3;&(=77$772$;/(TA*;*7/#4("H(8$39/:U)((TC__MU) ca)(@:Ӎ(/:ӏ(-ӫ3(>ӝ(/#ѭӣ;B(6ӝ(o(/Ӄ(0Ӆ(0*Ӌ-(-:ҩ;(-:Ӎ;:(-|;B(/w-(-.;B(ӭ;B'(7ӱ(&ө;B(/:.ӕ-(/#";B(>Ӌ;:(0*Ӌ;( T5;7/#.-/*";(^"(_ciC__Gi@KN6oK'(A*;*7/#4("H(8$39/:U)((TC__GU) cI)(@:.-'(^)K)\)(q"*;/(=;;.39(8$39/:(E$0*$%'(@:3?/$#(c)<[(X#.B7'(03--*;$7'(>9""&(3;&(>9""&(&$#*0$&(TX#3H/( #$?"#/U)((TC_<_U) c])(A3*'(8)K)(E$B.93/*";("H(3;/*>*"/*-(#$B*7/#3/*";(3;&(3;/*>*"/*-(2";*/"#*;B(*;(Y*$/;32(TD#$7$;/3/*";(*;(/:$(<7/(

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

O=EDW7(%"#S7:"?U)((TC__]U) M_)(1/3/$(7:3#$(*;(d"*;/N7/"-S(-"2?3;*$7(T://?[0*$/>3")0;U) M<)(K"/39(3;&(&"2$7/*-(23&$(&#.B(739$7(*;(Y*$/;32(TX#.B(=&2*;*7/#3/*";("H(Y*$/;32NA*;*7/#4("H(8$39/:U) MC)(Y*;:'(^)K)(Y*$/;32(D:3#23-$./*-39(5;&.7/#4N5;0$7/2$;/(7/#3/$B4(TD#$7$;/3/*";[(://?[ii%%%)79*&$7:3#$) ;$/i0*;:H-i0*$/;32N?:3#23-$./*-39N*;&.7/#4N3;&N*;0$7/2$;/N7/#3/$B4N?#$7$;/3/*";U)((TC__IU) ML)( 8.;B'(^)n)(!5D(O9">39(D:3#23-4(Z"#SH"#-$(E$?"#/(C__])(M]NaG(TC__]U) MG)( A$&*-*;$(?#*-$7[(A3S$(?$"?9$(7$$S$#(3;&(?""#$#(TZ8FU) Mc)( Y*$/;32(D:3#23-$./*-397(p(8$39/:-3#$(E$?"#/(gL(C__])((TC__]U) MM)( E$B.93/*";(3>"./("#B3;*V3/*";(3;&("?$#3/*";("H(8"7?*/39W7(?:3#23-*$7(TA*;*7/#4("H(8$39/:U)((TC__IU) Ma)( J3#77";'(A)(=;/*>*"/*-(.7$(3;&(#$7*7/3;-$[(=77$77*;B(3;&(*2?#"0*;B(./*9*73/*";(3;&(?#"0*7*";("H(3;/*>*"/*-7( 3;&("/:$#(&#.B7(*;(Y*$/;32)(G1=#V1/6,6(TC__LU) MI)( J3#7";'(A)(=;/*>*"/*-(.7$(3;&(#$7*7/3;-$[(=77$77*;B(3;&(*2?#"0*;B(./*9*73/*";(3;&(?#"0*7*";("H(3;/*>*"/*-7( 3;&("/:$#(&#.B7(*;(Y*$/;32)((TC__LU) M])( Y*$/;32(7$-";&(*;(1"./:$37/(=7*3(*;(-".;/$#H$*/(&#.B7(T://?[ii$;B9*7:)0*$/;32;$/)0;i 7"-*39iC__Ii_]iI_G]IcU)(U,/&%37%/&(TC__IU) a_)( @.";B'(K)g)(F0$#0*$%("H(/:$(Y*$/;32(?:3#23-$./*-39(7$-/"#(*;(C__I("?$#3/*";7("H(H"#$*B;($;/$#?#*7$7(*;( Y*$/;32'(7/3/$(23;3B$2$;/("#*$;/3/*";(*;(/:$(7$-/"#(*;(C__](TD#$7$;/3/*";U)((TC__]U) a<)( @.";B'(K)g)(F0$#0*$%("H(/:$(Y*$/;32(D:3#23-$./*-39(7$-/"#(*;(C__I("?$#3/*";7("H(H"#$*B;($;/$#?#*7$7(*;( Y*$/;32'(7/3/$(23;3B$2$;/("#*$;/3/*";(*;(/:$(7$-/"#(*;(C__](TA*;*7/#4("H(8$39/:'(X#.B(=&2*;*7/#3/*";("H( Y*$/;32U)((TC__]U) aC)(83;&>""S("H(5;/$B#3/$&(A3;3B$2$;/(H"#(-"22";(-:*9&:""&(*99;$77(TA*;*7/#4("H(8$39/:U)((TC__MU) aL)(K#$3/2$;/(O.*&$9*;$(TA*;*7/#4("H(8$39/:U)((TC__MU) aG)(8"3'(^)g)($/(39)(X$-#$37$&(1/#$?/"-"--.7(?;$.2";*3$(7.7-$?/*>*9*/4(/"("#39(3;/*>*"/*-7(32";B(-:*9&#$;(*;( #.#39(Y*$/;32[(3(-"22.;*/4(7/.&4)( (<_'(Ic(TC_<_U) ac)(J3#77";'(A)($/(39)(=;/*>*"/*-(2$&*-3/*";(3;&(>3-/$#*39(#$7*7/3;-$(/"(3;/*>*"/*-7[(3(7.#0$4("H(-:*9&#$;(*;(3( Y*$/;32$7$(-"22.;*/4)( (WX(a<<NaC<(TC___U) aM)(8"3'(^)g)($/(39)(e;;$-$773#4(3;/*>*"/*-(.7$(H"#(2*9&(3-./$(#$7?*#3/"#4(*;H$-/*";7(*;(CIN&34(H"99"%N.?("H(ICL( ϐ Ǥ W(*'%34#(0#D%&,7,+'(E,34#91/7(&1/'3F5#TC__aU) aa)(=;;.39(E$?"#/("H(8"7?*/39W7(D:3#23-4(X$?3#/2$;/(TA*;*7/#4("H(8$39/:U)((TC__]U) aI)(D3##4'(@)A)($/(39)(+2$#B$;-$(*;(Y*$/;32("H(1/#$?/"-"--.7(?;$.2";*3$(#$7*7/3;/(/"(2.9/*?9$(3;/*2*-#">*39( 3B$;/7(37(3(#$7.9/("H(&*77$2*;3/*";("H(/:$(2.9/*#$7*7/3;/(1?3*;TCL!UN<(-9";$)(D%&,7,+'(E#D@/%&6#91/7(&1/'( GM'(Lc<CNLc<a(TC__CU) a])(1";B'(q)8)($/(39)(8*B:(?#$039$;-$("H(3;/*2*-#">*39(#$7*7/3;-$(32";B(-9*;*-39(1/#$?/"-"--.7(?;$.2";*3$( *7"93/$7(*;(=7*3(T3;(=^1FED(7/.&4U)(D%&,7,+'(E#D@/%&6#91/7(&1/'(YS'(C<_<NC<_a(TC__GU) I_)(D3##4'(@)A)($/(39)(^3739(-3##*3B$(*;(Y*$/;32$7$(-:*9&#$;("H(1/#$?/"-"--.7(?;$.2";*3$(#$7*7/3;/(/"(2.9/*?9$( 3;/*2*-#">*39(3B$;/7)(D%&,7,+'(E#D@/%&6#91/7(&1/'(YY'(GIGNGII(TC___U) ͺͳǤ ǡ Ǥ Ǥ Ǥ ϐ -:*9&#$;(%*/:(2$;*;B*/*7(3;&(/:$*#(H32*94(2$2>$#7(*;(Y*$/;32)(WF%#W#$%0/+&#=,6(WR'(<<<N<<M(TC__MU)

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

ͺʹǤ ǡ Ǥ Ǥ ϐ %*/:(3-./$(9"%$#(#$7?*#3/"#4(/#3-/(*;H$-/*";7(*;(^:3(K#3;B'(Y*$/;32)(W#$%0/+&#91/7(&1/'(<G'(LG]NLcL( TC__IU) IL)(q";$7'(1)J)'(^B.4$;'(Y)\)'(^B.4$;'(K)A)(p(=/:3;'(+)(D#$039$;-$("H(2.9/*#$7*7/3;/(O#32N;$B3/*0$("#B3;*727(*;( 3(7.#B*-39(:"7?*/39(*;(8"(@:*(A*;:(@*/4'(Y*$/;32)( (!!'(<aCcN<aL_(TC__MU) IG)(@3"'(Y)($/(39)(X*7/#*>./*";("H($,/$;&$&N7?$-/#.2(>$/3N93-/3237$7(*;(-9*;*-39(*7"93/$7("H(+;/$#">3-/$#*3-$3$( *;(Y*$/;32)(D%&,7,+'(E#D@/%&6#91/7(&1/'(;I'(LaL]NLaGL(TC__CU) Ic)( J$'(K)A)($/(39)(8*B:(?#$039$;-$("H(?9372*&N2$&*3/$&(`.*;"9";$(#$7*7/3;-$(&$/$#2*;3;/7(*;(-"22$;739( 2$2>$#7("H(/:$(+;/$#">3-/$#*3-$3$(*;(8"(@:*(A*;:(@*/4'(Y*$/;32)( (J>'(<cIcN<c]C(TC__]U) IM)( \."'(@)o)($/(39)(=;/*2*-#">*39(7.7-$?/*>*9*/4("H(1:*B$993(*7"93/$7(*;($*B:/(=7*3;(-".;/#*$7'(C__<NC__G)(W# (;!'(<_aN<<<(TC__IU) Ia)( ^B.4$;'(K)Y)'(J$'(D)Y)'(J$'(@)8)(p(Z$*;/#3.>'(=)(=;/*>*"/*-(#$7*7/3;-$(*;(&*3##:$3B$;*-(+7-:$#*-:*3(-"9*(3;&( 1:*B$993(7/#3*;7(*7"93/$&(H#"2(-:*9&#$;(*;(83;"*'(Y*$/;32)(D%&,7,+'(E#D@/%&6#91/7(&1/'(G]'(I<MNI<]( TC__cU) II)( Y*;:'(8)($/(39)(E3?*&($2$#B$;-$("H(/:*#&(B$;$#3/*";(-$?:39"7?"#*;(#$7*7/3;/(1:*B$993(7??)(*;(1"./:$#;( Y*$/;32)( (J>'(CI<NCIL(TC__]U) I])( @:3.'(K)K)($/(39)(=;/*2*-#">*39(&#.B(#$7*7/3;-$("H(1392";$993($;/$#*-3(7$#"03#(/4?:*(*;(37*3(3;&(2"9$-.93#( ϐ Ǥ D%&,7,+'(E#D@/%&6#91/7(&1/'(c<'(GL<cN GLCL(TC__aU) ]_)( J$'(K)=)($/(39)(@9";39($,?3;7*";(3;&(2*-#"$0"9./*";("H(`.*;"9";$N#$7*7/3;/(1392";$993($;/$#*-3(7$#"/4?$( /4?:*(*;(Y*$/;32(H#"2(<]]M(/"(C__G)( Gc'(LGIcNLG]C(TC__aU) ]<)( =;'(^)g)(E$?"#/("H(3;/*>*"/*-(.7$(*;(3;*239(*;(Y*$/;32(TD#$7$;/3/*";(*;(/:$(<7/(O=EDW7(%"#S7:"?U)((TC__]U) ]C)( A";/:94(E$?"#/("H(=;/*>*"/*-(E$7*&.$(*;(=`.3-.9/.#$(T^3/*";39(=B#"N!"#$7/#4N!*7:$#*$7(g.39*/4(=77.#3;-$( ȌǤ ǣȀȀ Ǥ ϐ Ǥ Ǥ Ȁ Ǧ Ǧ Ǧ Ǧ Ȁ Ǧ Ǧ ȀǤ ȋʹͲͲͻȌǤ ]L)( 8.B:$7'(D)(p(8$#*/3B$'(q)(=;/*>*"/*-(O#"%/:ND#"2"/$#7(*;(!""&(=;*2397(T://?[ii%%%)H3")"#BiXF@E+Di =EK5@J+i=OE5DD=icccu+^)8KAU)((TC__CU) ͻͶǤ ǡ Ǥ Ǥǡ ϐ ǡ Ǥǡ ǡ Ǥ Ǥ Ƭ ǡ Ǥ Ǥ Ǧ Y*$/;32)( (aL'(a]_MNa]<<(TC__aU) ͻͷǤ ǡ Ǥ Ǥǡ ϐ ǡ Ǥǡ ǡ Ǥǡ ǡ Ǥ Ǥ Ƭ ǡ Ǥ Ǥ Ǥ 732?9$7(H#"2(Y*$/;32(3;&(-:3#3-/$#*V3/*";("H(/:$*#(3;/*>*"/*-(#$7*7/3;-$)( (aL'( MIIcNMI]_(TC__aU) ]M)( 8.";B'(J)g)'(83;:'(K)K)'(^B"-'(D)K)(p(O*3;B'(K)K)8)(=;/*>*"/*-(#$7*7/3;-$("H(@32?49">3-/$#(7??)(H#"2(-:*-S$;( -3#-377(*;(63-(^*;:(?#"0*;-$(T.;?.>9*7:$&U) ]a)( FB373%3#3'(^)($/(39)(=;/*2*-#">*39(7.7-$?/*>*9*/*$7("H(1392";$993(H#"2(&"2$7/*-(3;*2397'(H""&(3;&(:.23;( *;(/:$(A$S";B(X$9/3'(Y*$/;32)( ($a_'(<<c]N<<MG(TC__IU)

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

&E5,+&'(&!"#$%,& K3>9$(<[(\$4(&$0$9"?2$;/(3;&(:$39/:(*;&*-3/"#7(Y*$/;32 K3>9$(C[(8$39/:(-3#$(%"#S(H"#-$(H#"2(C__cNC__I K3>9$(L[(^.2>$#("H(8$39/:(5;7.#3;-$(2$2>$#7(;3/*";%*&$'(C__cNC__a Ͷǣ ϐ K3>9$(c[(D#*-$7("H(7"2$(3;/*>*"/*-7(3/(03#*".7(9$0$97(*;(/:$(&*7/#*>./*";(747/$2 K3>9$(M[(E$/3*9(?#*-$(3;&(B"0$#;2$;/(399"%$&(7.#?9.7$7(T23#SN.?7U(H"#(:"7?*/39(?:3#23-*$7 K3>9$(a[(@".;/$#H$*/(&#.B7(&$/$-/$&(/:#".B:(4$3#7 K3>9$(I[(5;-$;/*0$7(H"#(3;/*>*"/*-(.7$ K3>9$(][(=;/*>*"/*-($,?$;&*/.#$(*;(:"7?*/397(*;(C__](T&3/3(A"8U K3>9$(<_[(5;-$;/*0$7(H"#(.7*;B(3;/*>*"/*-7(*;(3B#*-.9/.#$ K3>9$(<<[(K:#$3/7(3;&("??"#/.;*/*$7(*;(-";/#"99*;B(3;/*>*"/*-(#$7*7/3;-$ K3>9$(<C[(J*7/("H(-.##$;/(?"9*-*$7(*;(Y*$/;32(";(3;/*>*"/*-(.7$(3;&(#$7*7/3;-$(3;&(-"22$;/7 K3>9$(<L[(E3/$("H(L"+(4,(3;&(T"#F%/*7(%,3/(?#"&.-*;B(+16J(*;(7"2$(:"7?*/397( K3>9$(<c[(Y3;-"24-*;(A5@(&*7/#*>./*";7("H(.&3F154(+(++*6#3*'/*6(7/#3*;7(*;(63-:(A3*(3;&(@:"(E34(:"7?*/397(N( C__I K3>9$(<G[(E3/$(@3#>3?$;$2(#$7*7/3;-$("H(G"#3/'*@,%(63(3;&(D"#E3*73%%,,(*;(M(:"7?*/397(*;(C__I K3>9$(<c[(Y3;-"24-*;(A5@(&*7/#*>./*";7("H(.&3F154(+(++*6#3*'/*6(7/#3*;7(*;(63-:(A3*(3;&(@:"(E34(:"7?*/397(b( C__I K3>9$(<M[(=;/*>*"/*-(#$7*&.$(*;(3`.3-.9/.#$

E5,+&'(&-5K4.%,& !*B.#$(<[(Y*$/;32 !*B.#$(C[(Y*$/;32(?"0$#/4(23? !*B.#$(L[(8$39/:(-3#$(747/$2 !*B.#$(G[(@"2?"7*/*";("H(/"/39(:$39/:($,?$;&*/.#$(C__M !*B.#$(c[(K"/39(3;&(&"2$7/*-(23&$(&#.B(739$7(*;(Y*$/;32(T,(2*99*";(e1XU(H#"2(C__<(/"(C__I !*B.#$(M[(139$7("H(3;/*>*"/*-7(*;(Y*$/;32 !*B.#$(a[(XXX(?$#(<__(>$&N&347("H(=;/*>*"/*-7(*;(C__INC__] !*B.#$(I[(A";/:94(XXX(?$#(<__(>$&N&347("H(a(:*B:$7/(=>7(*;(C__]

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

=GG%*052&= =*+5#5'+53&.%,5,+"*3%&0"+"&5*&?5%+@ *"8L&I',G5+"$&$%6%$ 1.#0$*993;-$("H(H".#(2"7/(-"22";(O#32(;$B3/*0$( ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ฯ ย ย ย ย ย ย ย ย ย ย ย ย ย N ?*/397(*;-9.&*;B( วค ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย ย ( 3;&#D"#E3*73%%,,#7:"%$&(#$93/*0$94(:*B:(?#$039$;-$( "H(3;/*>*"/*-(#$7*7/3;-$)(K:$(?#$039$;-$("H(+16J(*;(L"# +(4,(3;&(T"#F%/*7(%,3/(*;(C__c(%37(3>"./(LG(?$#-$;/( H"#(>"/:(>3-/$#*3)(5;(63-:(A3*(:"7?*/39'(/:$(#3/$7("H(T"# F%/*7(%,3/(3;&(L"#+(4,(*;-#$37$&(H#"2(C_(?$#-$;/(*;( C__c(/"(LG(?$#-$;/(*;(C__I'(3;&(H#"2(<I(?$#-$;/(*;( C__c(/"(GC(?$#-$;/(*;(C__I'(#$7?$-/*0$94(T1$$(K3>9$( <LUGC)(

!"#$%&JPL&>"+%&'(&1H&3'$5&"*0&NH&G*%48'*5@ "%&G.'0435*K&17FE&5*&,'8%&:',G5+"$,& E'3"+5'* ")+)(>16B1<J(%( 02+

OH6(#<@(H65>29<?(

&249(0A;(H65>29<?(

%LQK 'LQK ( KRVSLWDO

&249(+24>(H65>29<?(

%DFK 0DL KRVSLWDO

NH&& G*%48'*5"% Q

1H&3'$5 Q

K%"(-"22";(;"7"-"2*39(?3/:"B$;7'(G"#3/'*@,%(R 63(3;&(D"#E3*73%%,,'(%$#$(377$77$&(H"#(-3#>3?$;$2( #$7*7/3;-$(*;(C__I)(K%$;/4(?$#-$;/("H(G"#3/'*@,%(63( 7/#3*;7(3;&(392"7/(c_(?$#-$;/("H(D"#E3*73%%,,(7/#3*;7( %$#$(-3#>3?$;$2(#$7*7/3;/(T1$$(/3>9$(<GUGC)

!"#$%&JWL&>"+%&)".#"G%*%8&.%,5,+"*3%&'(& <H&"%.4K5*',"&"*0&=H&#"48"**55&5*&U&:',G5@ +"$,&5*&MRRT Z.4K

<H&"%.4K5*',"& [_\ D416>484J *J2>484J

=H&#"48"**55& [_\

( =*:%>,?)0123)TG/)H*%8G"*;)%,;*%/JU

K"(*;0$7/*B3/$(/:$(?#$039$;-$("H(."#3*'/*6(%:*-:( *7(";$("H(/:$(2"7/(-"22";(O#32N?"7*/*0$("#B3;*727( %*/:( #$&.-$&( 7.7-$?/*>*9*/4( /"( 03;-"24-*;( 32";B( 2$/:*-*99*;N#$7*7/3;/(."#3*'/*6(TAE1=U(3;&(2$/:*-*9N 9*;N7.7-$?/*>9$(."#3*'/*6(TA11=U(7/#3*;7(*;(Y*$/;32'( 3(/"/39("H(C__(-9*;*-39(*7"93/$7("H(A11=(3;&(AE1=(-"9N 9$-/$&(H#"2(C(;3/*";39(B$;$#39(:"7?*/397(*;(C__I(%$#$( 377$77$&(>4(Y3;-"24-*;(A5@(/$7/)(K:$(#$7.9/(7:"%$&( /:$($2$#B$;-$("H(03;-"24-*;N*;/$#2$&*3/$(."#3*'/*6( 3;&i"#( 03;-"24-*;N#$7*7/3;/( ."# 3*'/*6( 32";B( >"/:( A11=(3;&(AE1='(30$#3B*;B(L(?$#-$;/("H(A11=(3;&(c( ?$#-$;/("H(AE1=(7/#3*;7(T1$$(K3>9$(<cUGC)

FMNM$=,1, K:$( =1K1( ?#"B#32( 7/.&*$&( 3;/*2*-#">*39( #$7*7N /3;-$( *;( -"22";( >3-/$#*3(*7"93/$&(H#"2( *;N?3/*$;/7( 3;&( "./N?3/*$;/7( 3&2*//$&( /"( CC( :"7?*/397( ;3/*";N %*&$(H#"2(<]II(/"(C__G)(5;-9.&$&(?3/:"B$;7(%$#$(."# ย ย ย ย ย ย วก วค ย ย ย ย วก ย ย ย ย ย ย ย ย ย วก ย ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย R ย ย วก วค ย ย ย ย ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย ย วก วค ย ย ฯ ย ย ย ย ย ย ย วก ย ย ย ย ย R ย ย ย ย ย ย วก ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย วก วค ย ย ย ย ย ย ย ย ย ย วก ย ย ย วค E3*73%%,,)(=7(/:$#$($,*7/(*;-";7*7/$;-*$7(*;(/:$(&3/3'( /:$(#$7*7/3;-$(#3/$7(3#$(;"/(?#$7$;/$&)

( =*:%>,?)0123)TG/)H*%8G"*;)%,;*%/JU

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

!"#$%&JSL&&?"*3'8935*&VD)&05,+.5#4+5'*,&'(&7+"G:9$'3'334,&"4.%4,&,+."5*,&5*&F"3:&V"5&& "*0&):'&>"9&:',G5+"$,&@&MRRT

7+."5* !'+"$ =<)#:%,:G D))" D#)" %ûFK 0DL =<)#:%,:G :',G5+"$ D))" D#)" ):'&>"9& =<)#:%,:G :',G5+"$ D))" D#)"

V%"*

;%'8%+.53& 8%"*

_&?77=&[VD)a& M8KbE\&[_\ RT RS

=*:%>,?)0123)TG/)H*%8G"*;)%,;*%/JU) ǣ ǣ Ǥ Ǣ ǣ Ǥ

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

=GG%*052&F !"#$%&JUL&=*+5#5'+53&.%,504%&5*&"c4"34$+4.% MRRY %DQQHG "892:2692;5

3URGXFW

OH?61<J>H482;6? )4J2;<1:<L2=4 D<?<;H294(!1448

.2J294=( ,54(( "892:2692;5

+491<;@;?28 )A?768<J2=4

^A286?684 (QURÁR[DFLQ &LSURÁR[DFLQ +12J49H6>12J

:DWHU

( (

( W4P44=(?2J29](

( ( W4P;44=( OLPLW

(

MRRT

MRR`

3URGXFW

:DWHU

( (

3URGXFW

86(=<9< 86(=<9<

:DWHU

VDPSOHV ( (

(

86(=<9< 86(=<9<

(

( ( W4P;44=( OLPLW

86(=<9< (

=*:%>,?)0123)TG/)H*%8G"*;)%,;*%/OT

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