" ! # # " " !# "! # " ! ! # # !# ! # # " # #"# ! "# # " !# " # ! # "! !# "#" ! " ! "
" % #"# % "% #"#"% $%! " $! $ !# # " " # # " # # # "# " # ! # " ! !# !# "# ! # ! #" " " ! FUde`[`kjd^ e`^ O`gd^ CJLC^ <^ ]hhd bkgidW^@]h^G^]h^A^Y`aYjk^1`h]jk e`XdjidgR^ jakX]_djid^ h]^ c]b`V i]hd^edh^gd]h^dfi]id^`j^kcc]f`kjd edh^ ig]e`[`kj]hd^ ]bbaji]_djik ckj^ hUd'bk^ `i]h`]j]^ edh^ _kjek `__kT`h`]gdW^ F]^ ck__aj`i ^ e` g`Zdg`_djik\^ ck_d^ jdYh`^ ]jj` b]ff]i`\^ f`^ ]YY`kgj]^ eag]jid^ ` igd^Y`kgj`^e`^_]j`Zdfi][`kjd^fa` bg`jc`b]h`^ id_`^ ede`c]i`^ ]h^ fdiV ikgd^ d^ fahhd^ bgdfdji][`kj`^ e` bgkYdii`^ d^ kbbkgiaj`iR\^ `j^ ckjV XdYj`\^dXdji`^d^fd_`j]g`^_`g]i`W "adfik^ f]gR^ aj^ ]jjk^ `j^ ca`^ h] cg`f`^d^h]^Zhdff`kjd^edh^_dgc]ik f]g]jjk^ ]h^ cdjigk^ e`^ _khi`^ ,kgV fNkbW^ 1]^ fdj[]^ b`]Yj`fid`^ k h]_djidhd^ e`^ fkgi]\^ b`aiikfik ckj^ g`fbkfid^ d^ bgkbkfid^ bdg^ g`V fkhhdX]gd^ hd^ fkgi`^ e`^ aj^ fdYV _djik^fig]idY`ck^edhhk^fX`habbk d^edYh`^`jXdfi`_dji`^`j^Si]h`]W^Sj b]gi`ckh]gd^ hUdXdjik^ e`^ ]bdgiag] e`^O`gd^`j^bgkYg]__]^_]gide!^G Y`aYjk^ ]hhd^ kgd^ LJ\^ e]h^ i`ikhk bgkXX`fkg`k^ Sh^ ?d]h^ Ofi]id ck_d^ ckje`[`kjd^ bdg^ hk^ fX`V habbk^ edh^ 7]dfd \^ f]gR^ hUkcc]V f`kjd^ bdg^ e`cN`]g]gd baTTh`c]_djid^`^baji`^e`^h]Xkgk cNd^ fkjk^ ckje`[`kjd^ dffdjV [`]hd^ bdgcN<^ `h^ fdiikgd^ bkff] e]gd^ aj^ ckjig`Taik^ ckjcgdik^ ]h g`h]jc`k^edh^7]dfdW^Sh^h]Xkgk\^Y`R `j`[`]ik^ d^ Z]iik^ `j^ e`]hkYk^ ckj Pffk`__kT`h`]gd\^ bgdfdjidgR bgkbkfid^ gd]h`^ cNd^ g`Ya]ge]jk ]fbdii`^bg`kg`i]g`0^h]^hdYYd^agT]V j`fi`c]^ aj`i]g`]^ cNd^ f]gR^ bkfi]
]hhU]iidj[`kjd^ edh^ 3kXdgjk\^ ]cV ckgek^ Ma]egk^ ckj^ `h^ f`fid_] T]jc]g`k^d^`^b]g]_dig`^e`^Ma]h`iR d^ fkfidj`T`h`iRW^ ;dggR\^ `jkhigd\ e]i]^]_b`]^]iidj[`kjd^]hhU]iia]V h`ff`_k^ id_]^ edhh]^ e`f_`ff`kjd `__kT`h`]gd^ baTTh`c]^ =`j^ b]gi`V ckh]gd^g`Zdg`i]^]hhU]giW^CA^edh^@dV cgdik^ B]hX]^ Si]h`]^ edh^ 3kXdgjk 1kji`EW^ Bkjk^ `j^ bgkYg]__]^ igd Y`kgj]id^ e`^ h]Xkgk^ eag]jid^ hd Ma]h`^ hU]gi`ckhk^ XdggR^ `hhafig]ik\ e]^ _]ff`_`^ dfbkjdji`^ d^ bgki]V Ykj`fi`^ edh^ ?O\^ e]h^ bajik^ e`
X`fi]^edYh`^]iikg`\^edhhd^g`fkgfd^d edhhd^ bgkcdeagdW^ O`gd\^ MadV fiU]jjk\^f]gR^]jcNd^kcc]f`kjd\ Yg][`d^ ]h^ ckjig`Taik^ ed`^ hd]edg edh^ fdiikgd\^ e`^ ]bbgkZkje`gd^ ` id_`^ b`*^ ]iia]h`^ ckj^ b]gi`ckh]gd Zkcaf^fah^Bkc`]h^$kaf`jY^d^`^f`V fid_`^ ckfigaii`X`\^ `h^ ?di]`h^ ?d]h Ofi]id\^ h]^ FkY`fi`c]^ d^ fah^ ck_V b]gik^ Dag`fi`ckVPhTdgYN`dgkW^ O jkj^ _]jcNdg]jjk^ `^ b]gi`ckh]g` b`*^ fZ`[`kf` 0^ `^ bgkYdii`^ b`*^ ]XV Xdj`g`fi`c`^ d^ `jjkX]i`X`W^ Hk_d Madhhk^edh^Hk_ajd^e`^7]je`jk\
jdh^ cgd_kjdfd\^ fX`habb]i]^ `jV ikgjk^ ]^ aj^ c]fidhhk^ X`fckjidk\ g`idjai]^ aj^ j]iag]hd^ cdjigk ck__dgc`]hd^ e`ZZafkW^ Bdckjek Ma]jik^ ]ji`c`b]ik^ e]h^ Bkhd^ C4 Igd\^hU]__`j`fig][`kjd^]bbgkZ`iV idgR^edhhUkcc]f`kjd^bdg^bgdfdjV i]gd^ `h^ b`]jk^ e`^ X]hkg`[[][`kjd edh^ idgg`ikg`k^ ]XX`]ik^ bgde`fbkV jdjek^ aj^ 7Yi^ ckj^ figa_dji`^ e` `jcdji`X][`kjd^ ]h^ gdcabdgk^ de`V h`[`k^bdg^h]^Zaj[`kjd^]T`i]i`X]^e` Ma]h`iR^ d^ bdg^ Madhh]^ ck__dgV c`]hdW^ Kkj^ fkhkW^ Dg]^ hd^ jkX`iR b`*^ ]iidfd^ c`^ fkjk^ ]jcNd^ `^ bgkV Ydii`^ ed`^ bgkff`_`^ cdjig`^ ck_V _dgc`]h`^ e`^ S d]\^ bgkji`^ ]h edTaiik^`j^Bb]Yj]\^+g]jc`]\^Si]V h`]^ d^ Hgk][`]W^ Sh^ ;`hhdffd^ BNkbV b`jY^ fX`habb]ik^ e]^ Sjidg^ S d]^ < fkhk^ aj^ b`cckhk^ ]ji`c`bk\^ _]^ c` fkjk^ ]cNd^ ]hig`^ bgkYdii`\^ ck_d h]^H]gi`dg]^]^7k_bd`^de^]hig`^`j Y`gk^ bdg^ `h^ Kkge^PZg`c]W^ 7dg^ aj iki]hd^ e`^ ead^ _`h`kj`^ e`^ _M^ e` c]ji`dg`^`j^ckgfkW
$ $##!% #$ $ $ $ "#! $!% '$##$ !% $ #!% %
! % ! "#!&
Sh^>J^_]g[k^f`^<^idjaik\^bgdffk^h]^B]h] PXXkc]i`^edh^Hkjf`Yh`k^edhhUIge`jd^edYh` PXXkc]i`\^`h^bg`_k^HkjXdYjk\^edh^T`djV j`k^CJLC-L>\^kgY]j`[[]ik^e]h^Hk_`i]ik 7]g`^Ibbkgiaj`iR^`j^_]idg`]^e`^e`g`iik^]jV i`e`fcg`_`j]ikg`k^ d^ hdY`ii`_k^ `_bde`V _djik^ edhhd^ ekjjd^PXXkc]ikW^ Shhafig`^ ` gdh]ikg`^edh^HkjXdYjkWWWW
W_MR_babTaMVbP
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
0A?<BC @C ;A35@;:?.C 3>AC @88B>>AC 9?<? 9=@=AC;A3B==@=A1C ?8?CAC9@>5=AC:B>C(;?2 /B99?;BC"7B;,?.C-@CA<A0A@=?C@C;B>@2 0A?<@;BC A>C 8;?/B99?;BC B<=5;@ @//B;6@<:?C7-BC'5@<:?C9AC8@;>@C:A 8@;AC?88?;=5<A=)C9AC8@;>@C:AC9=?;A@C:A 9577B99AC3A5;A:A7ACBC97?</A==BC9?7A@>A1 &<7?;@C ?33AC 97@;9@C #C >@C 8B;7B<2 =5@>BC:AC:?<<BC8;?/B99?;AC5<A4B;9A2 =@;AC BC <?<C 4AC #C <B995<C ;B==?;B :?<<@1C <C 6B;A=?C @>>@C ;@88;B9B<2 =@<0@C/B66A<A>BC4AC#C5<C4B;?CBC8;?2 8;A?C:B/A7A=C:B>>@C<?9=;@C:B6?7;@0A@ BC9?>?C<B3>AC@<<AC* $C4AC#C5<@C8;A6@ >B3A9>@0A?<BC8B;C>@C;@88;B9B<=@<0@ /B66A<A>B1C ?<C:A6B<=A7-A@6?C7-B 9?>?C<B>C* C>BC:?<<BC-@<<?C4?=@=? 8B;C>@C8;A6@C4?>=@1C 56B;?9AC9?<? 9=@=AC3>ACA<=B;4B<=AC:B>>@C+?;=BC7?9=A2 =50A?<@>B.C 7?<C >@C 9B<=B<0@C <1 %% .C7-BC-@C:A7-A@;@=?CA>>B3A==A6@ >@C>B33BC<1C !.CA<C?;:A<BC@3>AC@;2 =A7?>AC!C8;A6?C7?66@CBC@;=A7?>?C :B>>@C +?9=A=50A?<B.C A<C '5@<=?C B;@ 5<@C>B33BCA<C7?<=;@9=?C7?<CA>C8;A<7A2 8A?C:ACB35@3>A@<0@C/?;6@>B1C >C7;?>>? :B>>@C8;B9B<0@C:AC:?<<BCA<C8?>A=A7@ -@C/@==?C9AC7-BC4AC/?99BC5<@C6?:A2 /A7@C:B>>*@;=1C C:B>>@C+?9=A=50A?<B. 7-BCA<C6@=B;A@C:AC@0A?<AC8?9A=A4BC-@ A<=;?:?==?CA>C8;A<7A8A?C:ACB35@3>A@<0@ /?;6@>BCBC9?9=@<0A@>B1C @C"B<=B<0@
<1C C:B>C%$$!.CA<C9B35A=?C@>>@C6?2 :A/A7@C :B>>*@;=1C C ;A,@>=@C A>C 8;B7B2 :B<=BC ?;AB<=@6B<=?C :B>>@C +?;=B +?9=A=50A?<@>BC:B>C* 1C @C+?;=BC# =?;<@=@C 7?<C >@C 9B<=B<0@C 1C C :B> %$ $CA<=;?:57B<:?C>@C8;B/B;B<0@C:A 3B<B;BC @99B3<@0A?<BC:AC4?=?C@>>*A<2 =B;<?C:AC5<@C>A9=@C9A@C@:C5<C5?6? 7-BC@:C5<@C:?<<@ 1C 5==ACAC 1&1 1C-@<<?CA68?9=?C@AC9A<2 :@7AC7-BC7AC9A@C@>6B<?C5<@C7?68?2 <B<=BC /B66A<A>BC @>>*A<=B;<?C :B>>@ A5<=@C+?65<@>B1C >C(;?/1C B<=5;@ 7?<7>5:BC @//B;6@<:?C 7-BC A>C 8;?2 ,>B6@C9AC8?=;B,,BC;A9?>4B;BC9?>?C9B >BC:?<<BC4?=@99B;?C>BC:?<<B1CC"52 ,A=?C:?8?CA>C(;?/B99?;BC B<=5;@C-@ ;B>@0A?<@=?C>*&441C @;A@C"=B>>@C+A@;2 >B==@.C>@C'5@>BC-@C8@;>@=?C:B>C>B3A=2 =A6?C A68B:A6B<=?.C :A97A8>A<@=? :@>>*@;=1C %$C=B;C C7?66@C:B>C718181. @//B;6@<:?C >@C <B5=;@>A=)C :AC '5B9=? @;=A7?>?1C *A<=B<=?C#C'5B>>?C:AC/@;C;AB<2 =;@;BC@<7-BC>@C6@=B;<A=)CA<C'5B9=? @;=A7?>?CBC<?<C@<7-BC9?>?C3>ACA68B2 :A6B<=AC8B;C6?=A4AC:AC9@>5=BC:B>C:A2 /B<9?;B1C B<=;BC 8B;C AC :A8B<:B<=A 85,,>A7ACBC8;A4@=ACA>C8;?,>B6@C<?<C9A 8?<B.CB99B<:?C8;B4A9=BC>BC3@;@<0AB 8B;C>@C6@=B;<A=).C8B;C>BC:?<<BC@44?2 7@=?C7?<C>@C>B33BC<1C! C:B>C* $C# 9=@=@C:A97A8>A<@=@C>@C=5=B>@C:B>>@C6@2
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
5B9=AC <5?4AC 7?66AC :A97A8>A<B;B,2 ,B;?C>*@9=B<9A?<BC?,,>A3@=?;A@C:B>>B :?<<BC @44?7@=?C %C 6B9AC 8;A6@C BC ! 6B9AC:?8?CA>C8@;=? CA>C>B3A==A6?CA68B2 :A6B<=?C:B>>BC:?<<BCA<C3;@4A:@<0@ @==B9=@=?C:@C7B;=A/A7@=?C6B:A7?CB:CA<2 /A<BCA>C7?66@C C:A97A8>A<B;B,,BCCA>C>B2 3A==A6?C A68B:A6B<=?C @<7-BC 8B;C >@ 6@>@==A@C:BAC/A3>AC:ACB=)CA</B;A?;BC@AC! @<<A.C6B:A@<=BC@5=?7B;=A/A7@0A?<BCB 8;?:50A?<BC 9577B99A4@C :B>C 7B;=A/A2 7@=?C :B>C 8B:A@=;@1C "BC >@C 6?:A/A7@ :B>>@C<?;6@C4B;;)C@==5@=@C7AC9@;B,,B 5<@C<?4A=)C;A4?>50A?<@;A@CA<C?;:A<BC@> >B3A==A6?CA68B:A6B<=?1CC @C(;B9A:B<=BC ?9@>,@C A97?6A.C-@ 7?<7>59?CAC>@4?;A.CC7?<C>*@598A7A?C:A =;?4@;BC9B68;BC5<@C"@>@C3;B6A=@C:A +?>>B3-ACC7-BC@97?>=@<?C>@C4?7BCBC>B 8;?8?9=BC:B>C+?6A=@=?C(@;AC 88?;2 =5<A=)1
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
I0LAHFHDHLA4KLJGEKGCHGHL@IDEKAJ@IDKLIFF1IBEI7 CH9DIGGHL;IDL@KD9KGJDKLJGL6?BEILA4J?BILIFFI /IGAKFFKDJILCKFF1?;;JAJHL;IFFJ>KGEIDK7LKGEDHLFKLHDK -'822LCKFL=JHDGHLIGEKAKCKGEKLIFFILCIEIL;JBBIEI @KDLFIL9KGCJEI7L?GILCJA4JIDI<JHGKLBHEEHBADJEEI AHGEKGKGEK! :LF1J>@K=GHLJDDK9HAI6JFKLKCLKB@DKBBHLCKFF1H;;K: DKGEKLIL@IDEKAJ@IDKLIFF1IBEILJGCKEEI7LIL@KGILCJ @KDCJEILCKFFILAI?<JHGKLJGLAIBHLCJL>IGAIEIL@ID: EKAJ@I<JHGK :LJGLAIBHLCJLH;;KDEIL@DKBKGEIEILCIL@KDBHGIL;J: BJAI7LF1JGCJAI<JHGKLCKFL@DH@DJHLAHCJAKL;JBAIFK7LFI DKBJCKG<ILK7LBKLBJLEDIEEILCJL@KDBHGIL;JBJAILAH: GJ?=IEI7L?GILI?EHCJA4JIDI<JHGKLJGLHDCJGKLIFLDK: =J>KL@IEDJ>HGJIFK :LJGLAIBHLCJLH;;KDEIL@DKBKGEIEIL@KDLAHGEHLCJL?GI BHAJKE.7LF1JGCJAI<JHGKLCJL@IDEJEIL3 &7LGHGA4 CH9D.LKBBKDKL@DHCHEEHLAKDEJ;JAIEHLCKFLDK=JBEDH CKFFKLJ>@DKBKLCIFL"?IFKLDJB?FEJLFILAHBEJE?<JHGK CKFFILBHAJKE.7LDK=HFID>KGEKLJBADJEEILKCLJL@HEKDJ AHG;KDJEJLIFF1H;;KDKGEK :LF1KFK<JHGKLCJLCH>JAJFJHL@DKBBHLJFL/H>?GKLCJ ,IF>JLBKLGHGLBJLDJBJKCKLJGLEIFKLAH>?GK* 60LIFFILCH>IGCILCJLI>>JBBJHGKLCJL9KGCJEI CK9KLKBBKDKLIFFK=IEH7LILEJEHFHLCJLCK@HBJEHL@KD AI?<JHGKLKLB@KBK7L?GLIBBK=GHLAJDAHFIDKLJGEK: BEIEHLIFL/?DIEHDKL@KDLFKLBK=?KGEJLBH>>K! :L-2 LCKFL@DK<<HLH;;KDEHLILEJEHFHLCJLAI?<JHGK* :L- LCKFL@DK<<HLH;;KDEHL"?IFKLBH>>ILAHDDJ: B@HGCKGEKLIFF1I>>HGEIDKLI@@DHBBJ>IEJ9HLCKFFK B@KBKLCJL@DHAKC?DILKLCJL9KGCJEIL EDILA?JLF13 &7 "?IGCHL(LCH9?EI08L%IFJLB@KBKLBHGH7LJGL9JIL@DK: B?GEJ9I7LDJAH>@DKBKLGKFL9KDBI>KGEHLCKFL- 7 @KDEIGEHLBHGHL;IEEKLBIF9KLK9KGE?IFJLB?AAKBBJ9K JGEK=DI<JHGJ* A0LGKFLAHDBHLCKFFIL=IDILFIL>JB?DIL>JGJ>ILCKF: F1I?>KGEHLCILI@@HDEIDBJLIFFKLH;;KDEKLJGLDJFIGAJHL( CKEKD>JGIEILGKFFILBEKBBIL>JB?DIL;JBBIEIL@KDLJF @DJ>HLDJFIGAJHLB?FL@DK<<HL6IBK* C0LJFLEKD>JGKL@KDLJFL9KDBI>KGEHL >KCJIGEKLIBBK: =GHLJGEKBEIEHLIFFILA?DIEKFI0LCKFLDKBJC?HL@DK<<H (L;JBBIEHLJGL=JHDGJL 2LCIFF1I==J?CJAI<JHGKLK7 BHFHLIFF1KBJEHLCKFF1JGEKDHL9KDBI>KGEHLCKFFI BH>>I7LJFL J?CJAKLCKFK=IEHL@DH99KCKD.LIF: F1K>IGI<JHGKLCKFLCKADKEHLCJLEDIB;KDJ>KGEH7LIJ BKGBJLCKFF1IDEJAHFHL LA8L@8LA88L3GLAIBHLCJLJGI: CK>@J>KGEH7LIFFHLBAICKDKLCKFLEKD>JGKLCJLBKB: BIGEIL=JHDGJ7LF1I==J?CJAIEIDJHLBID.LCJA4JIDIEH CKAIC?EHLCIFLCJDJEEH7LAHGL@KDCJEILCKFFILAI?: <JHGK7LBIF9ILF1K9KGE?IFKLAHGCIGGILIL@I=IDKLFI CJ;;KDKG<ILCJLA?JLIFFILBKAHGCIL@IDEKLCKFF1IDE8 LA8@8A8* K0LGKFFHLBEKBBHLEKD>JGKLKLAHGLFKL>KCKBJ>KL>H: CIFJE.LCJLA?JLIFL@DKAKCKGEKL@?GEHLC07LF1I==J?CJ: AIEIDJHLCH9D.LJGEK=DIDKLFILBH>>I @DK9KGEJ9I>KGEKLCK@HBJEIEILILEJEHFHLCJLB@KBK @DKB?GEJ9KLCJL9KGCJEIL;JGHLILDI==J?G=KDKLJFL- CKFL@DK<<HLCJLI==J?CJAI<JHGK7LBHEEHL@KGILCJLCK: AICKG<ILCIFF1I==J?CJAI<JHGKL>KCKBJ>ILIJ BKGBJLCKFLAJEIEHLIDE8L LA8@8A88L 9KLF1J>>H6JFK BJILBEIEHLI==J?CJAIEHLILBK=?JEHLCKFLBHFHLDJFIGAJH >JGJ>HLH66FJ=IEHDJH7LF1I==J?CJAIEIDJHL(LCJB@KG: BIEHLCIFF1H66FJ=HLCKFF1JGEK=DI<JHGKL@KDLB@KBK* ;0L=FJLHGKDJL;JBAIFJLCKFFIL9KGCJEIL 3 &LHLDK=JBEDH0LK FKLB@KBKLCJLEDIBADJ<JHGKLKLCJLAIGAKFFI<JHGKLCKFFK ;HD>IFJE.LJ@HEKAIDJKLBIDIGGHLILAIDJAHLCKFF1IA: "?JDKGEK8L HGL9JLBHGHLB@KBKLGHEIDJFKLHLCJL>K: CJI<JHGK* =0LJFL/?DIEHDKL@DH99KCKD.LILE?EEJL=FJLICK>@J: >KGEJLDKFIEJ9JLIFFILEDIBADJ<JHGKLCKFLCKADKEHLCJ EDIB;KDJ>KGEHLKCLIFFILAIGAKFFI<JHGKLCKFFKL;HD: >IFJE.LJBADJEEKLHLEDIBADJEEKLILAIDJAHLCKFFIL@HD: <JHGKLJ>>H6JFJIDKLJGLH==KEEH8L)1KBKA?<JHGK CKFFKL9HFE?DKLAIEIBEIFJL(LDJ>KBBILJG9KAKLIFF1JGJ: <JIEJ9ILCKFF1IA"?JDKGEK* 40L=FJLI==J?CJAIEIDJL@HEDIGGHL?B?;D?JDKLCKFFI AHGAKBBJHGKLCJL>?E?JLI=K9HFIEJLGKFF1IAAKBBH @KDL?GLJ>@HDEHL;JGHLIFF1 2 LCKFL@DK<<HLCK=FJLJ>: >H6JFJ7L@KDLAH>KLAHGAHDCIEHLCIFL%DJ6?GIFKLAHG IFA?GJL3BEJE?EJL6IGAIDJ8L ?FL@?GEHL>I==JHDJLJG;HD: >I<JHGJL@HBBHGHLKBBKDKLDJA4JKBEKL@DKBBHLFI /IGAKFFKDJIL;IFFJ>KGEIDK* J0LIJL@IDEKAJ@IGEJLIFF1IBEI7LA4KLGHGLBJIGHLCJ9K: G?EJLI==J?CJAIEIDJ7L9KDD.LDKBEJE?JEHLJFLCK@HBJEH @KDLAI?<JHGKLKLB@KBK7LB?6JEHLCH@HLFILK;;KEE?I: <JHGKLCKFFIL=IDI8 / 3 3L3++ #3)3&$3L :L KGCJEILAHGLJGAIGEH! H>IGCILJGLAIDEILFK=IFKLAHGLJGCJAI<JHGKLCKF 6KGK7LCKFL@K<<HLH;;KDEH7LCKFFILCIEILCJL9KGCJEI7LK CKFFIL@DHAKC?DILILA?JLBJLDJ;KDJBAKLCIL@DKBKGEIDK KGEDHLFKLHDKL-'722LCKFL=JHDGHLIGEKAKCKGEKLFI 9KGCJEIL F?G:9KGLHDKL 722:-'7220L?GJEI>KGEKLI C?KLIBBK=GJLAJDAHFIDJLGHGLEDIB;KDJ6JFJLEDIEEJLCI=FJ 3BEJE?EJL#IGAIDJLCJLBK=?JEHLKFKGAIEJ7LCKFF5J>@HDEH DJB@KEEJ9I>KGEKL@IDJLIFL'2 L@KDLAI?<JHGKLKLIF -2 L@KDLB@KBKLDKAIGEJLJFLG?>KDHLCKFFIL@DHAK: C?DILKLILC?KL>IDA4KLCJLK?DHL-7' LAJIBA?GI8L3F E?EEHLCIL@DKBKGEIDKLIFFILAIGAKFFKDJILKBKA?<JHGJ J>>H6JFJIDJLCKFL%DJ6?GIFKLCJL,IF>JL9JIL$H>I @JIGHLEKDDI8 KFFILCH>IGCILF5H;;KDKGEKLCK9KLJGCJAIDKLFKL@DH: @DJKL=KGKDIFJE.LJFL@DH@DJHL/8 87LBKLJGEKGCKLI99I:
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
(?B<7-EC>EF!99;F>;F,$%64 ; ;(; ( !!'( $ $!'( $ "%( 2?C:EAADC=DA@BF-E>E7B@C'F +559F E==B?CF0B88B?E>>DF %##%(& !99C3E@BF7?CFD3EAD-EC>BF?EACFE>
D=?EDF D@@DF +;:DF D>F E7@ED>CF D@F ED>C 8=E9CF =E?8BAACFDF EDF D>F E7@ED>C F ED>C
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
9@?D$;=B>E<D6BA@?C5D>>B?D9D@ 1111 (?B<7-EC>EF!99;F>;F4"%66F ; ;(;
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
3D@:EF BF :7BF =BA=C?AD>AEF D)B>AEF ?78B=1E<EB ACAD@BF9 ;F264564;F @EFE99C3E@EF=E?7@AD>C <B>?EAEF>B@F ;+;(; ;F:B@F<C97>BF:EF+D?A=C/ )E@@D=EFD@F1C#@ECF>;F0,F8;@@DF>;F246"F?73;F0FB ?73;F$; $ %( '!$ ( ; 2; 2 5 , " '& "% (4F F:B@F8=B--CF3D?B $& "#'(!$& '("& '&#% 44%6*%4624 $& "#'( %&("& '&#% 4"%6*%4624 EF5E=<D@EFAB?B==CFE::E@@;B@EF8?EAACF>CFA@;3 <DCF<E>F8?C:EAADC=DA@BF-E>E7B@C'F+559F(B?DBF09 B::BF6C=FA@;<DCFD=F0BA@?C5D>>B?DFB>>BF5DBF-C3 4E=D6CF+=AE>4D%F*!9 2?EAE=@B?EF>EFC::E?@EFE=@?CF F.*9//FF<E>F7DC?=C 8?E6E<E=@EF>BF5E=<D@BFF8?EAACF>CFA@;<DCF<E> 2?C:EAADC=DA@BF<E>E7B@C9 (B77DC?DFD=:C?4B,DC=DF8?EAACF>CFA@;<DCFAD@CFD= 0BA@?C5D>>B?DFB>>BF5DBF-C4E=D6CF+=AE>4D%F*!9 @E>9F/&#. #& !
11111 (?B<7-EC>EF!99;F>; *%""FFF ; ;(; ( !!'( $ $!'( $ "%( 2?C:EAADC=DA@BF-E>E7B@C'F+559F+=@C=DCF ?DC>CF %##%(& !99C3E@BFD:E3EACFD:F7?CFD3EAD/ AE)CF?EACFE>F<D??D>CFD@@CF!C>ECF/F C<;F D# E :EF E3D=EF + 5F<B>?EACFE>F<DAD?ACFD@F1#;F*" 8;@@DF2 0F?73;F44 F $ %( '!$ ;F46; 66566 %##%( !99C3E@BFD:E3EACFD:F7?CFD3EADAE)C ?EACFE>F<D??D>CFD@@CF!C>ECF/F C<;F D# EF:E E3D=EF + 5F <B>?EACF E>F <DAD?ACF D@F 1#;F *" 8;@@DF2 0F?73;F40 $ %( '!$ ;F46; 66566 $& "#'(!$& '("& '&#% (24%6*%4624 $& "#'( %&("& '&#% 2,%6*%4624 EF5E=<D@EFAB?B==CFE::E@@;B@EF8?EAACF>CFA@;3 <DCF<E>F8?C:EAADC=DA@BF-E>E7B@C'+559F+=@C=DC ?DC>CF 2?EAE=@B?EF >EF C::E?@EF E=@?CF 9F .*9//F F <E> 7DC?=CF8?E6E<E=@EF>BF5E=<D@BFF8?EAACF>CFA@;<DC <E>F2?C:EAADC=DA@BF<E>E7B@C9 (B77DC?DFD=:C?4B,DC=DF8?EAACF>CFA@;<DCFAD@CFD= 0BA@?C5D>>B?DF 0) F DBF -9F B=AE>4DF *!F 3F E>9 /&#. #& !F6E>>9F**& * /&. 11111 (?B<7-EC>EF!99;F>;FF"6%"$F ; ;(; ( !!'( $ $!'( $ "% 2?C:EAADC=DA@BF-E>E7B@C'F +559F+=@C=DCF(BAAD4CF ;?AD %##%( &" % D33=E<DACF?EACF>B@F+C97>BF:E +D?A=C)E@@D=EFD@@DF EDF E9C@DF #E.F EDF B=/ AD>EFCFA=D)B=?DF! F:EF EDF B=AD>E ; $ %( '!$ ;F2*;4666566 $& "#'(!$& '("& '&#% 24%6*%4624 $& "#'( %&("& '&#% 4 %6*%4624 EF5E=<D@EFAB?B==CFE::E@@;B@EF8?EAACF>CFA@;3 <DCF<E>F8?C:EAADC=DA@BF-E>E7B@C'F+559F+9F(BA3 AD4CF ;?AD%F 6C=F A@;<DCF D=F (B?D=BF <DF )D$B?D 09<BF)B>D6E@@EF DBF2C>>D=CF=9F. F 0) 9 2?EAE=@B?EF>EFC::E?@EFE=@?CF 9F.*9//F<EDF7DC?=D 8?E6E<E=@DF >EF 5E=<D@EF 8?EAACF >CF A@;<DCF <E> 2?C:EAADC=DA@BF <E>E7B@CF +559F +9F (BAAD4C ;?AD%F6C=FA@;<DCFD=F(B?D=BF<DF)D$B?DF09<BF)B3 >D6E@@EF DBF2C>>D=CF=9F. F 0) 9 (B77DC?DFD=:C?4B,DC=DF8?EAACF>CFA@;<DCFAD@CFD= (B?D=BF<DF)D$B?DF09<BF)B>D6E@@EF DBF2C>>D=CF=9 . F 0) 9F E>E:C=CF /&#.3!# /&%F 8C?@B@D>E * !3#. !*!%F E34BD>F B554BAAD4C@;?AD >D3 $E?C9D@9 11111 (?B<7-EC>EF!99;F>;FF$4%6,F ; ;(; ( !!'( $ $!'( $ "%( 2?C:EAADC=DA@BF-E>E7B@C'F-?9F ;6DCF DC::?
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
# %#& & $ # %' GHGL JG:KEJHEKL ICL ?3=A .;;9;;@ ==JBBJHGKLIDD2JGAIGFHLB@7HECJGIFILIDL8KEBI5 =KGFHLJDL<JHEGHL?EJ=ILCKDDILCIFIL:JBBIFIL?KE D2JGAIGFHL CKDDIL BH==IL CKDL 64 L CKDL ?EK;;H
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
#""'& $!#& $!%$ !3=AD.6@ *'9;. +DJLJ==H7JDJ9L8KGC@FJLGKDDHLBFIFHLCJL:IFFHLKLCJ CJEJFFHLJGLA@JLBJLFEH8IGH9LBHGHL=K<DJHLCKBAEJFFJ GKDDILEKDI;JHGKLCJLBFJ=ILAHGB@DFI7JDKLJGL1IG5 AKDDKEJI>
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
OQMSTIRT2LPNPOST LSKSONQLSTMSTPBBSLNSTSONLPT9@3/@00TTISMTDRPLOP HLSJSISONSTMQTASOIRNQT SLTFQDDRPLRTROBPLFQCRPORTLRAPMDSLKRTQMMQTJQO? JSMMSLRQTBQMMRFSONQLSTPTJPOKGMNQLSTRTKRNRTRONSLOSN @NLR=GOQMSIRJLPNPOS@OSNTS @QKNSRFFP=RMR@RN@
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
IQRTDSORNPLRETHLSARQTQGNPLRCCQCRPOSTISMTDRGIRJS NGNSMQLSETIQTQMMSDQLSTROTJPHRQTJPOBPLFS; ROTJQKPTIRTIRJ9RQLQCRPOSTHLSKSONQNQTJPODRGO? NQFSONSTIQTHR TKPDDSNNRETISASTSKKSLSTROIRJQNP JPMGRTJ9STQ==RQTM>SKJMGKRAQTBQJPMN:TIRTBPLFG? MQLSTSASONGQMRTPBBSLNSTROTQGFSONP; OPOTKQL:THPKKR=RMSTNLQKBSLRLSTM>RFFP=RMSTQTKPD? DSNNPTIRASLKPTIQT7GSMMPTJ9STKPNNPKJLRASTM>PB? BSLNQ; M>PBBSLNQT,TRLLSAPJQ=RMSETKQMAPTJ9S T3@TRMTDRGIRJS PLIRORTM>ROJQONP;T/@TKRQOPTISJPLKRTJSONPASONR DRPLORT IQMMQT KGQT HLSKSONQCRPOST ST MQT KNSKKQ OPOTKRQTKNQNQTQJJPMNQ; M*PBBSLNQTOPOT,TSBBRJQJS T3'TKSTHSLARSOSTPMNLSTRM NSLFROSTKNQ=RMRNP;T/'TKST,TROBSLRPLSTQMTHLSCCP ISNSLFROQNPTQTOPLFQTISMM*QLNRJPMPT1 $TSTHR KPHLQTLRJPLIQNP;TJ'TKSTM*PBBSLSONSTOPOTHLSKNQ JQGCRPOSETQTFSCCPTIRTQKKSDOPTJRLJPMQLSTOPO NLQKBSLR=RMSTRONSKNQNPTQT PKNST<NQMRQOSTKHQ ETRO FRKGLQTOPOTROBSLRPLSTQMTISJRFPTISMTHLSCCPTIQ MGRTHLPHPKNP; QMM>PBBSLNQET IQT ISHPKRNQLKRT ROT =GKNQT J9RGKQE KSOCQTKSDORTIRTLRJPOPKJRFSONPETISASTSKKSLS QMMSDQNPTM>QKKSDOPTJRLJPMQLSTHSLTMQTJQGCRPOSE JPFSTROOQOCRTROIRJQNP;TQMM*SKNSLOPTISMMQT=GKNQ AQOOPTQOOPNQNRETQTJGLQTISMTJQOJSMMRSLSTLRJS? ASONSETRMTOPFSETHLSARQTRISONRBRJQCRPOSETIRTJ9R FQNSLRQMFSONSTHLPAASISTQMTISHPKRNPETRMTOPFS ISMT DRGIRJST ISMM*SKSJGCRPOST ST MQT IQNQT ISM? M*GIRSOCQTBRKKQNQTHSLTM*SKQFSTISMMSTPBBSLNS;TMS =GKNSTKQLQOOPTQHSLNSTQMM*GIRSOCQTBRKKQNQTHSL M*SKQFSTISMMSTPBBSLNSETQMMQTHLSKSOCQTISDMRTPB? BSLSONRETPASTJPFHQLKR;TOSMTJQKPTIRTFQOJQNQ JPFHQLRCRPOSTISMM>PBBSLSONSTPTISDMRTPBBSLSONR M>QDDRGIRJQCRPOST KQL:T JPFGO7GST IRKHPKNQE BQNNQTKQMAQTM>QHHMRJQCRPOSTISMMSTHLSARKRPORTIR JGRTQMM>QLN@T1)/ETJPFFRT/TST(ETJ@H@J@;TROTJQKPTIR HR TPBBSLNSTAQMRISETKRTHLPJSISL:TQTDQLQTKGMM>PB? BSLNQTHR TQMNQTKSJPOIPTRMTKRKNSFQTISMMSTKJ9SIS PT=GKNSTKSDLSNSETBQNNQTKQMAQTM>QHHMRJQCRPOSTISM? M>QLN@T1)(ETJPFFQT/ETJ@H@J@;TTTTT ROT QMNSLOQNRAQT QMMST FPIQMRN:T IRT JGRT KPHLQET MQ HLSKSONQCRPOSTISMMSTPBBSLNSTIRTQJ7GRKNPTHG
QAASORLST QOJ9ST FSIRQONST M>QJJLSIRNPET Q FSCCPTIRT=PORBRJPTPTISHPKRNPTKGTJPONPTHPKNQMS PT=QOJQLRPTRONSKNQNPTQMMQTHLPJSIGLQTSKSJGNRAQ SIT QJJSKPT PT IQT QJJSOISLKRET OSMT KSJPOIP JQKPETHLSKKPTMQT T QOJQT PHPMQLSTIRT+HPMSNP +H8T TTIRTGOQTKPFFQTHQLRTQITGOTISJRFPTISM HLSCCPTJ9STKRTRONSOISTPBBLRLSTSTFSIRQONSTMQTJP? FGORJQCRPOSETQTFSCCPTNSMSBQ TPTHPKNQTSMSN? NLPORJQETOSMTLRKHSNNPTISMMQTOPLFQNRAQETQOJ9S LSDPMQFSONQLSET JPOJSLOSONST MQT KPNNPKJLR? CRPOSETMQTNLQKFRKKRPOSTSTMQTLRJSCRPOSTISRTIP? JGFSONRT ROBPLFQNRJRT ST NSMSNLQKFSKKRET IRT GOQ IRJ9RQLQCRPOSTJPONSOSONSTMSTROIRJQCRPORTIRTJGR QMMPT KNSKKPT QLN@T 1)3T J@H@J@;T ISNNPT QJJLSIRNP ISAST QASLST MGPDPT OPOT PMNLST JRO7GST DRPLOR HLRFQT ISMMQT KJQISOCQT ISMT NSLFROST SONLPT RM 7GQMST HPKKPOPT SKKSLST HLPHPKNST MST PBBSLNS I*QJ7GRKNP;TBROTI>PLQTKRTHLSASISTJ9SET7GQOIP M*PBBSLNQT,THLSKSONQNQTJPOTMSTFPIQMRN:TQMNSLOQ? NRASETRMTNSLFROSTHSLTRMTASLKQFSONPTISMTHLSCCPTS IRTPDORTQMNLQTKPFFQT,TIRTOPAQONQTDRPLOR; ROTPDORTJQKPETMSTKHSKSTISMTNLQKBSLRFSONPTJQ? IPOPTQTJQLRJPTISMM>QDDRGIRJQNQLRPETJGRTLSKNQOP LRKSLAQNSTMSTQNNRARN:TSITRTJPKNRTHSLTMQTLSDRKNLQ? CRPOSTSTNLQKJLRCRPOSTISMTISJLSNPTOPOJ9 THSL MQTJQOJSMMQCRPOSTISMMSTBPLFQMRN:THLSDRGIRCRS? APMRTDLQAQONRTKGDMRTRFFP=RMRTQJ7GRKNQNR; ,THPKKR=RMSETHSLTRTHQLNSJRHQONRTQMMSTQKNSETPNNS? OSLSTFGNGRTQTNQKKRTSTJPOIRCRPORTSJPOPFRJ9S HLSKNQ=RMRNRTIQTPDORTKRODPMQT=QOJQTQISLSONS HLPNPJPMMPT 8 < THSLTMQTJPOJSKKRPOSTIRTFGNGR QDMRTQDDRGIRJQNQLR;TM>SMSOJPTISMMST=QOJ9STQIS? LSONRTQMM>RORCRQNRAQTHSLTRMT-LR=GOQMSTIRT.QFSCRQ -SLFST,TLSHSLR=RMSTHLSKKPTMQT2QOJSMMSLRQ;T 7GQONPTQMM>SASONGQMSETKGJJSKKRAQTASOIRNQTQDMR ROJQONR SKKQTISASTQASLTMGPDPTQMTHLSCCPTKPHLQTROIR? JQNPT IRT T )@&1 E10T HSLT RMT MPNNPT 3T ST IRT SGLP (0@000E00THSLTRMTMPNNPT/;TT MSTPBBSLNSTROTQGFSONPETQTHSOQTIRTROQFFRKKR=R? MRN:ET OPOT ISAPOPT SKKSLST ROBSLRPLRT QT SGLP @100E00THSLTRMTMPNNPTO@3TSITSGLPT/@000E00THSL RMTMPNNPTO@/; PDOGOPET QRT KSOKRT ISMM>QLN@T 1)&ET JPFFQT 3E J@H@J@ETNLQOOSTRMTIS=RNPLSET,TQFFSKKPTQTBPLFG? MQLST PBBSLNST QMM>ROJQONPT HSLKPOQMFSONSET Q FSCCPTIRTFQOIQNQLRPTFGORNPTIRTHLPJGLQTKHS? JRQMSTPTIRTHLPJGLQNPLSTMSDQMSETQOJ9STQTOPLFQ ISMM>QLN@T1)&ETJPFFQT(ETJ@H@J@T"RMTHLPJGLQNPLS MSDQMSTIPAL:ETROTPDORTJQKPETSKKSLSTFGORNPTIR FQOIQNPTKHSJRQMSTLRKGMNQONSTIQTQNNPTHG==MRJP PTKJLRNNGLQTHLRAQNQTQGNSONRJQNQETOPOTSKKSOIP KGBBRJRSONST M>PLIROQLRPT FQOIQNPT QMMST MRNR;T OSM? M>RHPNSKRTIRTJGRTQMTJRNQNPTQLN@T1)&ETJPFFQT(ETRM FQOIQNPTKHSJRQMSTLRKGMNQONSTIQTQNNPTHG==MRJP PTKJLRNNGLQTHLRAQNQTQGNSONRJQNQTIPAL:TSKKSLS ISHPKRNQNPT JPONSKNGQMFSONST QMMQT IRJ9RQLQ? CRPOSTISMTOPFROQNRAPTISMMQTHSLKPOQETIQTSBBSN? NGQLKRTOSMTNSLFROSTIRTJGRTQMM>QLN@T1$(ETJPFFQ 3ETJ@H@J@' PDORTJPOJPLLSONSETHSLTSKKSLSTQFFSKKPTQMM>RO? JQONPETISASTHLSKSONQLSTRKNQOCQTIRTHQLNSJRHQ? CRPOSETROTLSDPMQTJPOTRMT=PMMPETLSJQONSETQTHSOQ IRT ROSBBRJQJRQET M*ROIRJQCRPOST ISMT OGFSLPT IR
L@D@S@T ISMMQT HLPJSIGLQET RMT =SOST PT RMT MPNNPT JGR M>RKNQOCQTKNSKKQT,TLRBSLRNQETRMTHLSCCPTHLPHPKNPE MSTHLPHLRSTDSOSLQMRN:T"OPFSETJPDOPFSETMGPDP ST IQNQT IRT OQKJRNQET JPIRJST BRKJQMSE LSKRISOCQ IPFRJRMRPETKNQNPTJRARMSTSETKSTJPORG? DQNPET LSDRFST HQNLRFPORQMST BLQT RT JPORGDR;T RO JQKPTIRTJPFGORPOSTMSDQMSTISRT=SORETPJJPLLSL: ROIRJQLSTQOJ9STMSTDSOSLQMRN:TISMTJPORGDSTOPO PBBSLSONSET QMT BROST IRT HPNSLT NLQKBSLRLST QIT SO? NLQF=RETHLPT7GPNQETRMT=SOSETROTJQKPTIRTQDDRGIR? JQCRPOS;T OSMM>RHPNSKRT IRT QJ7GRKNPT QT NRNPMP HSLKPOQMSTIQTHQLNSTIRTGOTJPORGDSTROTLSDRFSTIR JPFGORPOSTISRT=SORETPJJPLLSTHLPIGLLSETPMNLS QMMQTIRJ9RQLQCRPOSTIRT7GSKN>GMNRFPETS TQLN@T3)&E JPFFQT3ETMSNN@TBETJPI@TJRA@ET7GSMMQTISMTJPORGDS OPOT QJ7GRLSONST IRT JGRT QMT KSJPOIPT JPFFQ ISMMQT FSISKRFQT IRKHPKRCRPOST OPLFQNRAQ'E M>SKHLSKKQTIRJ9RQLQCRPOSTIRTQASLTHLSKPTARKRPOS ISMMQTHSLRCRQTIRTKNRFQ; M>RKNQOCQETOSMTJQKPTIRTHLSKSONQCRPOSTIQTHQLNS IRT GOT FROPLSOOSET IPAL:T SKKSLST KPNNPKJLRNNQ IQRTDSORNPLRETHLSARQTQGNPLRCCQCRPOSTISMTDRGIRJS NGNSMQLSETIQTISHPKRNQLSTROTJPHRQTJPOBPLFS; ROTJQKPTIRTRKNQOCQTHLSKSONQNQTJPODRGONQFSONS IQT HR T KPDDSNNRET ISAST SKKSLST ROIRJQNPT JPMGR J9ST Q==RQT M>SKJMGKRAQT BQJPMN:T IRT BPLFGMQLS SASONGQMRTPBBSLNSTROTQGFSONP; OPOTKQL:THPKKR=RMSTNLQKBSLRLSTM>RFFP=RMSTQTKPD? DSNNPT IRASLKPT IQT 7GSMMPT J9ST KPNNPKJLRAS M>RKNQOCQ; QMM>RKNQOCQTIRTHQLNSJRHQCRPOSTISASTSKKSLSTQM? MSDQNQTJPHRQTIRTAQMRIPTIPJGFSONPTIRTRISONRN: ISMTJPOJPLLSONSTSETKSTOSJSKKQLRPETAQMRIQTIP? JGFSONQCRPOSTJPFHLPAQONSTRTHPNSLRTPTMQTMSDRN? NRFQCRPOST ISMMPT KNSKKPT "QIT SK@T HLPJGLQ KHSJRQMSTPTJSLNRBRJQNPTJQFSLQMSTROTJQKPTIRTKP? JRSN:'; JPOT M>RKNQOCQT IRT HQLNSJRHQCRPOSET IQT HLSKSO? NQLKRTROT=GKNQTJ9RGKQETKSOCQTKSDORTIRTLRJPOP? KJRFSONPETISASTSKKSLSTISHPKRNQNPTQKKSDOP JRLJPMQLSTOPOTNLQKBSLR=RMSETRONSKNQNPTQMMST PKNS <NQMRQOSTK@H@Q@ ETNLQFRNSTJGRTSBBSNNGQLSTRMTASLKQ? FSONPTISMMQTJQGCRPOST"SITROTJPONPTHLSCCPTIR QDDRGIRJQCRPOS'ETROTLQDRPOSTIRTGOTISJRFPTISM HLSCCPT=QKSTI>QKNQ; QMM*SKNSLOPTISMMQT=GKNQTAQOOPTQOOPNQNRETQTJGLQ ISMT JQOJSMMRSLST LRJSASONSET RMT OPFSET HLSARQ RISONRBRJQCRPOSET IRT J9RT FQNSLRQMFSONST HLPA? ASISTQMTISHPKRNPETRMTOPFSTISMTDRGIRJSTISMM*SKS? JGCRPOSTSTMQTIQNQTISMM*GIRSOCQTBRKKQNQTHSLTMQ ASOIRNQTQMM>ROJQONP; MST=GKNSTKQLQOOPTQHSLNSTQMM*GIRSOCQTKNQ=RMRNQ HSLTM>ROJQONPTQMMQTHLSKSOCQTISDMRTRKNQONRETMQTJGR JPFHQLRCRPOST,TOSJSKKQLRQTQRTBRORTISMM>QDDRG? IRJQCRPOSETJ9STKQL:TIRKHPKNQTKSJPOIPTMSTHLS? KJLRCRPORT ISMM>QLN@T 1$3T J@H@J@;T MQT FQOJQNQ HQLNSJRHQCRPOSTQMM>ROJQONPETHSLKPOQMFSONSTP QTFSCCPTIRTHLPJGLQNPLSTKHSJRQMSETKSOCQTIP? JGFSONQNPTSTDRGKNRBRJQNPTFPNRAPETJPFHPLNSL: M>ROJQFSLQFSONPTIRT3 30TISMMQTJQGCRPOSETJ9SE IRT JPONLPET KQL:T RFFSIRQNQFSONST LSKNRNGRNQ IPHPTMQTJ9RGKGLQTISMM>ROJQONPETPASTM>PBBSLSONSE LSDPMQLFSONSTHLSKSONSETOPOTIRASODQTQDDRGIR? JQNQLRP;TOSMTJQKPTIRTGOQTKPMQTRKNQOCQTIRTHQLNS? JRHQCRPOSETPJJPLLSL:TJPFGO7GSTQHHPLNQLSTGO LRQMCPTFRORFPETS TQLN@T1$3ETJPFFQT/ETHSLTJPO? KSDGRLSTM>QDDRGIRJQCRPOSTHLPAARKPLRQ; QTOPLFQTISMM>QLN@T1$ TJ@H@J@ETROBQNNRETQAASOGNP M>ROJQONPETHPKKPOPTSKKSLSTHLSKSONQNSTPBBSLNS IRTQJ7GRKNPTSONLPTRMTNSLFROSTHSLSONPLRPTIRTIRSJR DRPLORTIQMMQTDQLQETFQTSKKSTOPOTKPOPTSBBRJQJR KSTRMTHLSCCPTPBBSLNPTOPOTKGHSLQTIRT3 1T7GSMMP LQDDRGONPTOSMM>ROJQONP;TM>QDDRGIRJQCRPOSETHSL? NQONPET IRASLL:T ISBRORNRAQT PASET ISJPLKRT IRSJR DRPLORETOPOTKRQOPTKNQNSTHLSKSONQNSTPBBSLNSTRO QGFSONP; NQMRTPBBSLNSTHPNLQOOPTSKKSLSTISHPKRNQNSTHLSKKP MQT2QOJSMMSLRQETOSMMSTBPLFSTIRTJGRTQMM>QLN@T1)3 J@H@J@ETHLSKNQOIPTJQGCRPOSTHSLTGOQTKPFFQ HQLRTQMTIPHHRPTISMMQTJQGCRPOSTASLKQNQTHSLTMQ HQLNSJRHQCRPOSTQMM>ROJQONP@T<OTJQKPTIRTHLSKSO? NQCRPOSTIRTNQMRTPBBSLNSETASLL:TROISNNQTGOQTDQLQ KSJPOIPTMSTHLSARKRPORTIRTJGRTQMM>QLN@T1$ TJ@H@J@@ +STOSKKGOPTISDMRTPBBSLSONRTROTQGFSONPTHQLNS? JRHQTQMMQTDQLQTROISNNQTQTOPLFQTISMM>QLN@T1$ E JPFFQT(ETJ@H@J@ETM>QDDRGIRJQCRPOSTIRASONQTIS? BRORNRAQTSTASLL:THLPOGOJRQNQTQTJQLRJPTISDMRTPB? BSLSONRT"KQMAPTJ9STLRJPLLQTGOTIPJGFSONQNPTS DRGKNRBRJQNPTFPNRAP'TMQTHSLIRNQTISMMQTJQGCRPOSE RMTJGRTRFHPLNPT,TNLQNNSOGNPTJPFSTLROASORSONSTQ NGNNRTDMRTSBBSNNRTIQMM>SKSJGCRPOS;T ROTPDORTJQKPETMSTKHSKSTISMTNLQKBSLRFSONPTJS? IPOPTQTJQLRJPTISMM>QDDRGIRJQNQLRPETJGRTLSKNQOP LRKSLAQNSTMSTQNNRARN:TSITRTJPKNRTHSLTMQTLSDRKNLQ? CRPOSTSTNLQKJLRCRPOSTISMTISJLSNPTOPOJ9 THSL MQTJQOJSMMQCRPOSTISMMSTBPLFQMRN:THLSDRGIRCRS? APMRTDLQAQONRTKGDMRTRFFP=RMRTQJ7GRKNQNR; ,THPKKR=RMSETHSLTRTHQLNSJRHQONRTQMMSTQKNSETPNNS? OSLSTFGNGRTQTNQKKRTSTJPOIRCRPORTSJPOPFRJ9S HLSKNQ=RMRNRTIQTPDORTKRODPMQT=QOJQTQISLSONS HLPNPJPMMPT 8 < THSLTMQTJPOJSKKRPOSTIRTFGNGR QDMRTQDDRGIRJQNQLR;TM>SMSOJPTISMMST=QOJ9STQIS? LSONRTQMM>RORCRQNRAQTHSLTRMT-LR=GOQMSTIRT.QFSCRQ -SLFST,TLSHSLR=RMSTHLSKKPTMQT2QOJSMMSLRQ;T <6T 5.8 <465T8..8T%56#<-8T +56 8T<6286-4 ,TBRKKQNPETHSLTMQTHLSKSONQCRPOSTHLSKKPTMQT2QO?
JSMMSLRQTISMMST5KSJGCRPORT<FFP=RMRQLRTISMMSTPB? BSLNSTIRTQJ7GRKNPETS TQLN@T1)3TJ@H@J@ETISMTJPF? HSOIRPTRFFP=RMRQLSTKPHLQTROIRJQNPTSTFSDMRP ISKJLRNNPTOSMMQTLSMQCRPOSTISMM>SKHSLNPTROTQNNRE QMMQT 7GQMST KRT BQT SKHLSKKPT LRJ9RQFPET 7GQMS HQLNSTRONSDLQONSTSTKPKNQOCRQMSTISMMQTHLSKSONS PLIROQOCQET NSLFROST BROPT QMMST PLST &@00T ISM DRPLOPT$T QDDRPT/03/ETJPOTMSTFPIQMRN:TSTHSL RMTHLSCCPT=QKSTIRTJGRTKPHLQ; ,TBRKKQNQETHSLTM>SKQFSTISMMSTPBBSLNSTIRTQJ7GRKNPE QRTKSOKRTISMM>QLN@T1)/TJ@H@J@ETPAASLPTHSLTMQTDQLQ KGMMSTFSISKRFSETKSTHLSKSONQNSTROTFRKGLQTKG? HSLRPLSTQITGOQETQRTKSOKRTISMM>QLN@T1)(TJ@H@J@E M>GIRSOCQT ISMT #6 5!!326 (+ (06 2-46 #$++6 S KSDD@; 65.T28+4T<6T2!<T.8T%56#<-8T+56 8T <6286-4T646T8 <8T.!4 4E ,TBRKKQNPETHSLTMQTHLSKSONQCRPOSTHLSKKPTMQT2QO? JSMMSLRQT ISMMST 5KSJGCRPORT <FFP=RMRQLRT ISMMS RKNQOCSTIRTHQLNSJRHQCRPOSTQMMQTASOIRNQTQRTHG=? =MRJRTROJQONRTISMTJPFHSOIRPTRFFP=RMRQLSTKPHLQ ROIRJQNPTSTFSDMRPTISKJLRNNPTOSMMQTLSMQCRPOSTISM? M>SKHSLNPTROTQNNRETQMMQT7GQMSTKRTBQTSKHLSKKPTLR? J9RQFPET7GQMSTHQLNSTRONSDLQONSTSTKPKNQOCRQMS ISMMQT HLSKSONST PLIROQOCQET NSLFROST BROPT QMMS PLST3(@00TISMM>//T QDDRPT/03/ETJPOTMSTFPIQ? MRN:TSTHSLTRMTHLSCCPTFRORFPTIRTJGRTKPHLQ; ,TBRKKQNQETHSLTRMTDRPLOPT('6 5!!326(+ (062-4 #$++ STKSDD@ETMQTASOIRNQTQRTHG==MRJRTROJQONRTISM JPFHSOIRPTRFFP=RMRQLSTKPHLQTROIRJQNPETJPOTMS FPIQMRN:TSTHSLTRMTHLSCCPT=QKSTIRTJGRTROOQOCR; .8T%56#<-8T8%%<565T8..5T+5 !56-<T 246#< <46<ET+<8T !8.4 8T%<T+<T 822<8 .!4 4T+56 8T<6286-4ET+<8T !8.4 8T %<T+<T 822<8T.!4 4T246T<6286-4 DMRT RFFP=RMRT ASODPOPT HPKNRT ROT ASOIRNQT OSMMP KNQNPTIRTBQNNPTSTIRTIRLRNNPTROTJGRTKRTNLPAQOPETJPK JPFST RISONRBRJQNRET ISKJLRNNRT ST AQMGNQNRT IQM? M>SKHSLNPTOSMMQTLSMQCRPOSETJPOTPDORTSASONGQMS KSLARN TQNNRAQTSTHQKKRAQTROSLSONSTST7GPNSTJPO? IPFRORQMRTLSMQNRAS; MQTASOIRNQT,TQTJPLHPTSTOPOTQTFRKGLQ;TSASONGQMR IRBBSLSOCSTIRTFRKGLQTOPOTHPNLQOOPTIQLTMGPDP QITQMJGOTLRKQLJRFSONPETROISOORN:TPTLRIGCRPOS ISMTHLSCCP;TMQTASOIRNQTBPLCQNQTOPOT,TKPDDSNNQ QMMSTOPLFSTJPOJSLOSONRTMQTDQLQOCRQTHSLTARCRTP FQOJQOCQTIRT7GQMRN:ETO THPNL:TSKKSLSTLSAP? JQNQT HSLT QMJGOT FPNRAP@T 2POKSDGSONSFSONS M>SKRKNSOCQTIRTSASONGQMRTARCRETFQOJQOCQTIRT7GQ? MRN:TPTIRBBPLFRN:TISMMQTJPKQTASOIGNQETPOSLRTIR 7GQMKRQKRTDSOSLST?TRARTJPFHLSKRETQITSKSFHRPE 7GSMMRTGL=QORKNRJRTPAASLPTISLRAQONRTIQMMQTSASO? NGQMSTOSJSKKRN:TIRTQISDGQFSONPTIRTRFHRQONR QMMST MSDDRT ARDSONRET KHSKST JPOIPFRORQMRT ISM? M>QOOPTROTJPLKPTSTISMM>QOOPTHLSJSISONSTTOPO HQDQNSTIQMTIS=RNPLST?THSLT7GQMKRQKRTFPNRAPTOPO JPOKRISLQNRET QOJ9ST KST PJJGMNRT ST JPFGO7GS OPOTSARISOCRQNRTROTHSLRCRQETOPOTTHPNLQOOPTIQL MGPDPTQITQMJGOTLRKQLJRFSONPETROISOORN:TPTLRIG? CRPOST ISMT HLSCCPET SKKSOIPKRT IRT JR T NSOGNP JPONPTOSMMQTAQMGNQCRPOSTISRT=SOR; M>QDDRGIRJQNQLRPT IPAL:T ASLKQLST MQT IRBBSLSOCQ ISMTHLSCCPT"ISNLQNNQTIQMTHLSCCPTIRTQDDRGIRJQ? CRPOSTMQTJQGCRPOSTIRTJGRTKPHLQ'TSONLPTGOTNSL? FROSTFQKKRFPTIRTKSKKQONQTDRPLORTIQMMQTIQNQ IRTQDDRGIRJQCRPOSTFSIRQONSTQKKSDOPTJRLJP? MQLSTOPOTNLQKBSLR=RMSTRONSKNQNPTQT PKNST<NQMRQOS K@H@Q@ T "7GQMPLQT RMT HLPJSIRFSONPT KRT BPOIRT KG JLSIRNPT BPOIRQLRPT ST M>QDDRGIRJQNQLRPT OPOT RO? NSOIQTQAAQMSLKRTISMMQTBQJPMN:TIRTKG=SONLQLSTOSM JPONLQNNPET QMM>QKKSDOPT JRLJPMQLST KQL:T KPKNR? NGRNPETS TQLN@T 3ETJPFFQT ET#@.DK@T3TKSNNSF=LS 3&&(ETO@T($1ETRMTHQDQFSONPTIRLSNNPTQMMQT=QOJQ JLSIRNLRJSETOSRTMRFRNRTISMTJLSIRNPTQCRPOQNPTHSL JQHRNQMSETRONSLSKKRTSTKHSKSTJPOTJPMMPJQCRPOS HLRARMSDRQNQETSONLPTMPTKNSKKPTNSLFROSTSTISNLQNNP GOTQJJQONPOQFSONPTHSLTKHSKSTOSMMQTFRKGLQ J9STKQL:TROIRJQNQTIQMTD@S@';TROTFQOJQOCQETKR HLPAASISL:T QT IRJ9RQLQLST MQT ISJQISOCQT IQM? M>QDDRGIRJQCRPOSETQTOPLFQTISMM>QLN@T1$)TJ@H@J@; KPMNQONPT QMM>SKRNPT ISDMRT QISFHRFSONRT HLSJS? ISONRETISMMQTHLPIGCRPOSTIRTQDDRPLOQNRTJSLNRBRJQNR JQNQKNQMRTSTIRTQDDRPLOQNRTJSLNRBRJQNRTLSMQNRARTQMMS RKJLRCRPORT ST NLQKJLRCRPORT SBBSNNGQNST KGMT =SOS OPOJ9 TISMTHQDQFSONPTISMMSTKHSKSTIRTNLQKBS? LRFSONPET IQT SBBSNNGQLKRT JPONSKNGQMFSONST Q 7GSMMPTISMMQTIRBBSLSOCQTISMTHLSCCPTIRTQDDRGIR? JQCRPOSET OSMMQT FRKGLQT ISMT /0 T IRT 7GSKN>GM? NRFPETKQL:TSFSKKPTRMTISJLSNPTIRTNLQKBSLRFSONPE QRTKSOKRTISMM>QLN@T1$ TJ@H@J@; 6 6
%#$:)/) /U$:U 4)$:-/U :MU SILSJTU$TMTDROQURMU F@@E9D?BCG : :G?:G055 <.6G %#$:)/ MRUCTPLSORURMM=SPJRPOQULTMUKTDITPOTU <TPTUSEEQ<SMT" (&&(' ! (" =C9;@D>>CGE99C1E@EFADGFG8D, >BE?F(EC?DGE?87>BAEF@DG>EBCG?D@G=C97?DG8E *7AE?2FG "* #6G F@@FG @C=F@EB G 8EG ==C? F6 =C9;C>BCG8EG3F11AE=FBEGDGBDAAD?E6GAE;CABFBC E?G=FBF>BC G'7F?BCGFEG3F11AE=FBE6GF@G3C2@ECG8E 9F;;FG-6G;FABE=D@@FG4-/6G=FBD2CAEFG G"D 4/5#G DG ;FABE=D@@FG 4--6G =FBD2CAEFG 4G "D 4/5# G'7F?BCGFEGBDAAD?EGF@G3C2@ECG8EG9F;;F -6G;FABE=D@@FG4- 6GD>BD>FG;DAG9':G4 :-&06 ;FABE=D@@FG5<<6GD>BD>FG;DAG9':G/:+40GDG;FA, BE=D@@FG4/.6GD>BD>FG;DAG9':G& .G 6G9D2@EC 8D>=AEBBCG ?D@@FG AD@F(EC?DG 8D@@ D>;DABCG E? FBBEG=7EG>EG3FGD>;AD>>CGAE3DAE9D?BC: ' %$$(' # % !ULSUD7ACG&<<:<<<6<<: (QPUMRUHNTKTPOTUQNLSPRPBRUSMU SILSJTU$TMT? DROQUASKKRUMRULRORUTUMTUEQLRMSO8ULSUHRNOTJSHR? BSQPTURMMRUCTPLSORUJQPUSPJRPOQ0USPULTOORDMSQ" :**/" ?UMRULRORULTMU@+ @3 >@;>UQNTU;6UHTNUMRUHNTKTP? ORBSQPTU HNTKKQU MRU (RPJTMMTNSRU RMMSETPORNT LTMM=SKORPBRULSUHRNOTJSHRBSQPTURDMSUSPJRPOSGURM HNTBBQU<RKTUKQHNRUSPLSJROQ0 ?UM=ILSTPBRULTMU</ <+ 5<45 QNTULSUNSOQUHTNUMR CTPLSORURSUHI<<MSJSUSPJRPOSULTMM=SEEQ<SMTUKQHNR SPLSJROQUTURMUHNTBBQUKILLTOOQ0 ?UJ7TUMTUQAATNOTUESPSETUSPURIETPOQUPQPULT? CQPQUTKKTNTUSPATNSQNSURMU6 ULTMUHNTBBQU<RKT0 *-/ :.:*(4 ?UJ7TUDMSUQAATNTPOSULQCNRPPQULTHQKSORNTGUJQP? OTKOIRMETPOTURMMRULQERPLRULSUHRNOTJSHRBSQPT RMM=RKORGUIPURKKTDPQUJSNJQMRNTUPQPUONRKATNS<SMT SPOTKOROQURMMRUJINROTMRUARMMSETPORNTGURUOSOQMQULS JRIBSQPTGUSPUNRDSQPTULSUIPULTJSEQULTMUHNTBBQ <RKTUL=RKORFU ?U(7TUSMUHRDRETPOQULTMUHNTBBQULSURDDSILSJR? BSQPTULQCN8UTKKTNTUTAATOOIROQUSPUJRPJTMMTNSR ARMMSETPORNTU TPONQU KTKKRPORU DSQNPSU LRM? M=ILSTPBRULSUCTPLSORF RDDSQNSUSPAQNERBSQPSUJSNJRUMRUHRNOTJSHRBSQPT RMM=SPJRPOQUTUMTUEQLRMSO8ULSURDDSILSJRBSQPTULTM <TPTULQCNRPPQUTKKTNTUNSJ7STKOTURMMRUJRPJTM? MTNSRU ARMMSETPORNTU QU RMU JINROQNTU OTMF @,2& >2@>2 F / :*%U$:U 4)$:-/U$:U 4):U: % :.: *:G :4- -0G :$: ' ' (&& ' #! # ( #SJ7STKORULR"U RPOTMMRU NRPJTKJQ *:U#4)$4U)%-% (7TUSMUDSQNPQU>6F3F>@;>UPTMMRUKRMRULTMMTUHI<? <MSJ7TUILSTPBTULSU5ITKOQU-NS<IPRMTURCRPOSURM SILSJTULTMMTU4KTJIBSQPSGUKSUHNQJTLTN8URMMR CTPLSORU RMM=SPJRPOQU LTSU <TPSU SEEQ<SMSU LSU KT? DISOQUTMTPJROS" (&&('! " 3F11AE=FBCGE?G D=C@@FB7AFG=C>BE, B7EBCG8FG7?FG=F>FGFG87DG;EF?EG37CAEGBDAAF ;DAG=E%E@DGF1EBF(EC?DG=C?GF??D>>FG=CABDGD 2FAF2DG 8E>BE?BCG E?G =FBF>BCG F@G 3C2@ECG ?:.< ;FABE=D@@FG?:/&<G>71G56.GDG&G G%F@CADG>BE, 9FBCG=C9;AD>CGBAFG0<:<<<GDG <:<<<G) (&&(' ! " F;;D((F9D?BCG 8EG BDAAD?CG F2AE, =C@CG71E=FBCGE?G*FA@C;C@EGD>BD>CG/4<G9'GD 8E>BE?BCGE?G=FBF>BCGF@G3C2@ECG8EG9F;;FG?:0 ;FABE=D@@FG?:4&G G%F@CADG>BE9FBCG+:<<<G) (&&('! "'3F11AE=FBCGE?G*FA@C;C@EG=C>BEB7EBC 8FG 7?FG =F>FG ;DAG =E%E@DG F1EBF(EC?DG FG 87D ;EF?EG 37CAEG BDAAFG ;E G >D9E?BDAAFBCG DG F?, ?D>>FG=CABDG"-4<G9'G=C9;AD>FG@FG=C>BA7, (EC?D#G 8E>BE?BFG E?G =FBF>BCG F@G 3C2@ECG 8E 9F;;FG?:0G;FABE=D@@DG?:+//G>71G?:5GDG.G%F, @CADG>BE9FBCG45&:+<<G) (&&('! " ">DG?C?GAE=C?C>=E7BCGF2@EGFBB7F@E ;C>>D>>CAE#GF;;D((F9D?BCG8EGBDAAD?CGD8E, 3E=F1E@DG8E>BE?BCGF@G=FBF>BCGBDAAD?EG8D@G*C, 97?DG8EG*FA@C;C@EGF@G3C2@ECG?:0G;FABE=D@@D ?:0<5GDG0<.G8EG50<G9'G G%F@CADG>BE9FBCG8E +:5<<G) RMMTUKTDITPOSUJQPLSBSQPS" %$$(' # %" )G4/:.+<6</ HTNUSMUHNSEQUMQOOQ0 %$$(' # %" )G5:<&/6<< HTNUSMUKTJQPLQUMQOOQ0 %$$(' # %" )G50:4<-6++ HTNUSMUOTNBQUMQOOQ0 %$$(' # %" )G5:45-6-5 HTNUSMU5IRNOQUMQOOQF %DPSUJQPJQNNTPOTGUHTNUTKKTNTUREETKKQURM? M=SPJRPOQGULQCN8ULTHQKSORNTUPTMMRUJRPJTMMTNSR LSU 5ITKOQU -NS<IPRMTU RMETPQU 5IROONQU DSQNPS HNSERULTMMRULRORUASKKRORUHTNUM=SPJRPOQ" HNSEQU MQOOQ"U 9U ;F&63G@@U HTNU JRIBSQPTU TU 9 6F2+@G@@UHTNUKHTKT KTJQPLQU MQOOQ"U 9U >@1G&@U HTNU JRIBSQPTU TU 9 1@,G2@UHTNUKHTKT OTNBQU MQOOQ"U 9U >F2;@G,3U HTNU JRIBSQPTU TU 9 3F>>;G,;UHTNUKHTKT 5IRNOQU MQOOQ"U 9U >;6G@@U HTNU JRIBSQPTU TU 9 1>2G@@UHTNUKHTKTF .=RIETPOQUESPSEQULRURHHQNORNKSURMMTUQAATNOT !ULSU9U,;+G3@UHTNUSMUHNSEQUMQOOQ0U9U;@>G1@UHTN SMUKTJQPLQUMQOOQ0U9U;F6@3G1+UHTNUSMUOTNBQUMQOOQ0 9U;@2G3@UHTNUSMU5IRNOQUMQOOQF .=RDDSILSJRORNSQULQCN8ULTHQKSORNTUSMUHNTBBQULS
RDDSILSJRBSQPTGULTLQOORUMRUJRIBSQPTUDS8UHNT? KORORUPTMMTUAQNETULTSULTHQKSOSUDSILSBSRNSGUTPONQ ONTPORUDSQNPSULRMM=RCCTPIORUCTPLSORGUTULQCN8 HNQCCTLTNTURUKIRUJINRUTUKHTKTURMMRUCQMOINR JRORKORMTULTMM=SEEQ<SMTUONRKATNSOQDMSFU RDDSQNS SPAQNERBSQPSUSPUJRPJTMMTNSRF .RETBSRU-TNETU6@F6F>@;> :.U(/)(4..:4#4U NIPRU TNPRNLS ! G ! !*$G $ $ $* ! $ (&& ' #! # ( :44 /.G D2:G$>:G!99: / :*%U$:U 4)$:-/U :.U #% 4**:%):*-/U$4.4 /-%U)%-/:% ' ' NTKKQ /**%(:/ :%)4U)%-/#:.4U #%(4$ #4 4*4( -: 4U$:U./ 4 :/U-4# 4 SRBBRULTMMRU#THI<<MSJRU U.RETBSRU-TNET PTMMRU NQJTLINRU4KTJIOSCRUPF;; &6U SKOQUSMUHNQCCTLSETPOQULSULTMTDRURMMRUCTPLSOR TETKKQULRMU SILSJTULTMM=4KTJIBSQPTULTMU-NS? <IPRMTULSU.RETBSRU-TNETUSPULRORU;> @; >@@, TU>> @+ >@;@URSUKTPKSULTMM=RNOFU3,;U<SKUJFHFJF0 #SOTPIOQUPTJTKKRNSQUNSASKKRNTUMRUCTPLSORULTS <TPSUHSDPQNROSURMMTUKOTKKTUJQPLSBSQPSULTMMTUHNT? JTLTPOSURKOT0 SKOQUM=RNOFU32,UJFHFJ0 / :*/ J7TUSPULRORU.<G9F22ECG5<45GF@@DGCADG4<6.<6 PTMU RMRBBQULSU SIKOSBSRULSU.RETBSRU-TNETG SRBBRULTMMRU#THI<<MSJRGUHSRPQUHNSEQUKTESP? OTNNROQGUHNTKKQUSUMQJRMSULTMM=/KKQJSRBSQPTU)Q? ORNSMTGU KSU OTNN8U MRU CTPLSORU JQPU SPJRPOQU LTMMR HSTPRUHNQHNSTO8ULTMUKTDITPOTUSEEQ<SMT" ' " !?GBDAAEBCAECG8D@G*C97?DG8E *7AE?2FGF@@FG@C=F@EB G A7?= E 6G3C?8CGA7, >BE=CG E?G 87DG =CA;EG 8D@@FG >7;DA3E=EDG =C9, ;@D>>E%FG 8EG F:.:/<:.+G "DBBFAEG BAD6G FAD CBBF?BFGDG=D?BEFADGBAD?BF=E?'7D#6G=C?GF?, ?D>>CG3F11AE=FBCGF8E1EBCGFG3AF?BCECGC@DFAEC "?C?GF==FBF>BFBC# SMUAQPLQU!UNSHQNOROQUPTMUJQNNSKHQPLTPOTU(ROR? KOQU-TNNTPSUUJQPUMTUKTDITPOSUSPLSJRBSQPS" AQDMSQULSUERHHRU3@GUHRNOSJTMMT" ;GUIMSCTOQUJMF>'GURNTU6+F@@GUNTLLFLQEF9U>;G@>G NTLLFRDNF9U;;G1+0 >GUIMSCTOQUJMF>'GURNTU66F+@GUNTLLFLQEF9U;,G;3G NTLLFRDNF9U;@G110 1GUIMSCTOQUJMF>'GURNTU;3F>@GUNTLLFLQEF9U&G21G NTLLFRDNF9U1G+;0 ;1GU RDNIETOQU JMF>'GU RNTU 2F;@GU NTLLFLQEF9 ,G;1GUNTLLFRDNF9U6G+&0 ;,GUIMSCTOQUJMF>'GURNTU;F+@GUNTLLFLQEF9U@G,+G NTLLFRDNF9U@G360 >@GU IMSCTOQU JMF>'GU RNTU &1F@@GU NTLLFLQEF9 1+G+>GUNTLLFRDNF9U>2G@60 >&GU IMSCTOQU JMF>'GU RNTU 62F&@GU NTLLFLQEF9 >@G,;GUNTLLFRDNF9U;;G1@0 61,GUIMSCTOQUJMF>'GURNTU+F1@GUNTLLFLQEF9U1G>@G NTLLFRDNF9U>G>,0 63@GUIMSCTOQUJMF>'GURNTU2F;3GUNTLLFLQEF9U6G1,G NTLLFRDNF9U;G,;0 63>GUIMSCTOQUJMF>'GURNTU2F>@GUNTLLFLQEF9U6G3>G NTLLFRDNF9U;G,>0 636GU IMSCTOQU JMF>'GU RNTU ;>F@@GU NTLLFLQEF9 2G&>GUNTLLFRDNF9U6G+>0 631GU IMSCTOQU JMF>'GU RNTU >;F2@GU NTLLFLQEF9 ;>G>+GUNTLLFRDNF9U2G2,0 633GUIMSCTOQUJMF>'GURNTU1F1@GUNTLLFLQEF9U>G3@G NTLLFRDNF9U;G620 632GUIMSCTOQUJMF>'GURNTU;F3@GUNTLLFLQEF9U@G&3G NTLLFRDNF9U@G120 63,GUIMSCTOQUJMF>'GURNTU2F;@GUNTLLFLQEF9U6G1+G NTLLFRDNF9U;G&,0 62;GU IMSCTOQU JMF>'GU RNTU @@F2@GU NTLLFLQEF9 @G61GUNTLLFRDNF9U@G;,0 622GUIMSCTOQUJMF>'GURNTU2F;@GUNTLLFLQEF9U6G1+G NTLLFRDNF9U;G&,0 62+GUIMSCTOQUJMF>'GURNTU@F1@GUNTLLFLQEF9U@G>6G NTLLFRDNF9U@G;>0 62,GU IMSCTOQU JMF>'GU RNTU 22F@@GU NTLLFLQEF9 6+G1,GUNTLLFRDNF9U>@G130 6+>GU IMSCTOQU JMF>'GU RNTU >+F1@GU NTLLFLQEF9 ;3G3+GUNTLLFRDNF9U&G1,0 /SUASPSUIN<RPSKOSJSURMULTKJNSOOQUOTNNTPQUKSURHHMS? JRPQU MTULSKHQKSBSQPSUPQNEROSCTUCSDTPOSUHTNUMT BQPTU HNSCTU LSU HSRPSASJRBSQPT GU TU JS U DSIKOR 5IRPOQUNSKIMORULRMUJTNOSASJROQULSULTKOSPRBSQPT IN<RPSKOSJRU NSMRKJSROQU LRMU #TKHQPKR<SMTU LTM HNQJTLSETPOQULTMU(QEIPTULSU(INSPDRUSPULROR ;@F;;F>@;;GUPF+@F %$$(' # %" )G550:05+64/ TINQULITJTPOQ? CTPOSKTSESMRKTSJTPOQCTPOSJSP5ITU CSNDQMRU LS? JSQOOQ # $ (!% )G55:0056+5 TINQUCTPOSLITESMRKTS? JTPOQKTKKRPORLITUCSNDQMRUJSP5IRPORLIT %!&(' ! ( )G44:..4650 TINQUIPLSJSES? MRONTJTPOQONTPOIPQUCSNDQMRUCTPOSKTS .=SEEQ<SMTUCSTPTUHQKOQUSPUCTPLSORUPTMMQUKOROQ LSUAROOQUTULSULSNSOOQUSPUJISUKSUONQCRGUKTPBRURMJIPR DRNRPBSRUHTNUTCSBSQPTGUEQMTKOSTUTUHNTOTKTULS TCTPOIRMSUJQPLIOOQNS0UJQPUDMSURJJTKKQNSGULSHTP? LTPBTGU HTNOSPTPBTGU KTNCSO U ROOSCTU TU HRKKSCT
TKSKOTPOSUTULSNSOOSUHNQHQNBSQPRMSUKIMMTUHRNOSULTM? M=TLSASJSQU J7TU LTCQPQU NSOTPTNKSU JQEIPSU R PQNERULSUMTDDTU TLUTCTPOIRMTUNTDQMRETPOQULS JQPLQESPSQ F :MU<TPTULSUJISUKQHNRU!UETDMSQULTKJNSOOQUPTMMR NTMRBSQPTU LSU KOSERU RU ASNERU LTMM=TKHTNOQU SPDF SPJTPBQU-QNJRKSQGUJ7TUHI UTKKTNTUJQPKIM? ORORU LRMM=QAATNTPOTGU TLU RMMRU 5IRMTU KSU AR TKHNTKKQUNSPCSQURPJ7TUHTNUOIOOQUJS UJ7TUJQP? JTNPTUM=TKSKOTPBRULSUTCTPOIRMSUQPTNSUTUHTKSUR 5IRMKSRKSUOSOQMQUDNRCRPOSUKISU<TPSUTUJQPKIMOR? <SMTUKIMUKSOQUSPOTNPTOU FHQNORMTRKOTFJQEUT KIU :MU$QERPS U 4LSBSQPTU#TDSQPRMT UF 4=UHQKKS<SMTUJ7STLTNTUIPUASPRPBSRETPOQUHRNS RMU+@ &@ ULTMUHNTBBQU<RKTURDMSU:KOSOIOSULSUJNT? LSOQUJ7TU7RPPQURLTNSOQURMM=SPOTKRUJQPUSMU-NS<I? PRMTULSU.RETBSRU-TNETGUQKKSR"U RPJRU(RNSET *FHF/FGU *RPU RQMQU : :? RPJQU LSU )RHQMS *FHF/FGU RPJRU QHQMRNTU LSU (NQOQPTGU RPJR QPOTULTSU RKJ7SULSU*STPRU*FHF/FGU RPJRULS (RORPBRNQFU :UEIOISUKRNRPPQUDRNRPOSOSULRUSHQOTJRULRUSKJNS? CTNTUKIMMQUKOTKKQUSEEQ<SMTUHQKOQUSPUCTPLSORFU RDDSQNSUSPAQNERBSQPSUHQONRPPQUTKKTNTUJ7ST? KOTURMMTU<RPJ7TUSPOTNTKKROTF *TUM=QAATNTPOTUPQPULSCSTPTURDDSILSJRORNSQGUMR JRIBSQPTU CTNN8U SEETLSRORETPOTU NTKOSOISOR LQHQU MRU J7SIKINRU LTMMRU DRNRGU KRMCQU J7TU MQ KOTKKQUPQPUR<<SRUQETKKQULSUHRNOTJSHRNTURMMR ETLTKSERGUHTNKQPRMETPOTUQURUETBBQULSUHNQ? JINROQNTUKHTJSRMTGUKTPBRULQJIETPOROQUTUDSI? KOSASJROQU EQOSCQ"U SPU ORMTU JRKQU MRU JRIBSQPTU ! NTKOSOISORUKQMQUPTMMRUESKINRULTSU, ;@U PQCTULT? JSES ULTMM=SPOTNQUTUMRUNTKORPOTUHRNOTU!UONROOT? PIORUJQETUKQEERUNSPCTPSTPOTURUOIOOSUDMSUTAATOOS LRMM=TKTJIBSQPTFU :PUJRKQULSULI<<SUKIMMRUKIKKSKOTPBRULTSUEQOSCS DSIKOSASJROSUHTNUMRUERPJRORUHRNOTJSHRBSQPTURMMR DRNRGUM=QAATNTPOTUKSUNSCQMDTN8URMU SILSJTGUJ7T LSKHQNN8USPUETNSOQURMMRUNTKOSOIBSQPTULTMM=SPOTNR JRIBSQPTUQUNTKHSPDTN8UMRUNTMROSCRULQERPLRF /UPQNERULTMM=RNOFU12U$ #U@2 @2 >@@;UPFU6&@ M=RDDSILSJRORNSQGU 5IRMQNRU M=SEEQ<SMTU KSU ONQCS PTMMTUJQPLSBSQPSUHNTCSKOTUHTNUSMUNSMRKJSQULTMUHTN? ETKKQULSUJQKONISNTUSPUKRPROQNSRGULQCN8UHNT? KTPORNTURUHNQHNSTUTKJMIKSCTUKHTKTULQERPLR LSU HTNETKKQU SPU KRPROQNSRGU TPONQU ;>@U DSQNPS LRMMRUPQOSASJRULTMULTJNTOQULSUONRKATNSETPOQF *QPQU RU JRNSJQU LTMM=RDDSILSJRORNSQU OIOOTU MT KHTKTUHTNUSMUONRKATNSETPOQULTDMSUSEEQ<SMSUPQP? J7 U 5ITMMTU NTMROSCTU RMMRU JRPJTMMRBSQPTU LTMMR ONRKJNSBSQPTULTMUHSDPQNRETPOQUTULSUOIOOTUMTUAQN? ERMSO8UJQPUSUNTMROSCSUJQEHTPKSUKHTOORPOSURMUHNQ? ATKKSQPSKORU LTMTDROQU HTNU MTU QHTNRBSQPS KIJJTKKSCTU RMMRU CTPLSORGU JQETU MS5ISLROSU LRM F4FF (IKOQLTUDSILSBSRNSQULTMU<TPTU!USMUNRDFU-NRCR? DMSQU4IDTPSQUJQPUKOILSQUSPU.RETBSRU-TNETU? CSRU(NROSGUJISUOIOOSUDMSUSPOTNTKKROSURMM=RJ5ISKOQ HQONRPPQUNSCQMDTNKSUHTNUCSKSORNTUSMU<TPTFU .RU HI<<MSJSO8GU MTU EQLRMSO8U LSU HNTKTPORBSQPT LTMMTULQERPLTUTUMTUJQPLSBSQPSULTMMRUCTPLSOR KQPQUNTDQMROTULRMMTU (QPLSBSQPSUDTPTNRMSUSP EROTNSRULSUCTPLSOTUSEEQ<SMSRNSULTMTDROT URMMT? DROTURMUHNTKTPOTURCCSKQF .RETBSRU-TNETGUM U>,UERNBQU>@;>U SMUHNQATKKSQPSKORULTMTDROQU LQOOQNU RNSQU SMRPDSQPTUPQORSQ (%)$: :%):U 4)4#/.:U:)U /-4#:/U $:U 4)$:-4U: % :.:/#:U$4.4 /-4 .TUQAATNOTULSURJ5ISKOQULQCNRPPQUTKKTNTUHNT? KTPOROTUSPU<IKORUJ7SIKRUJQPOTPTPOTULQERPLR LSUHRNOTJSHRBSQPTUSPUJRNORUMTDRMTGUTPONQUMTUQNT ;>G@@ULTMUDSQNPQU>3UERDDSQU>@;>F *IMMRU<IKORULQCNRPPQUTKKTNTUSPLSJROTUMTUKQMT DTPTNRMSO8ULSUJ7SUHNTKTPORUM=QAATNORGUJ7TUHI RPJ7TUTKKTNTUHTNKQPRULSCTNKRULRMM=QAATNTPOTG SMUPQETULTMUDSILSJTULTMM=TKTJIBSQPTGUSMUPQET LTMUHNQATKKSQPSKORULTMTDROQGUMRULRORULTMMRUCTP? LSORUTUSMUPIETNQULTMMRUHNQJTLINRFU )TKKIPRURMONRUSPLSJRBSQPTU UP USMU<TPTUHTNUJIS !UKORORUAROORUM=QAATNORUQURMONQU ULTCTUTKKTNTURH? HQKORUKIMMRU<IKORF :MU OTNESPTU LSU CTNKRETPOQU LTMU KRMLQU HNTBBQG PQPJ7 U LTDMSU IMOTNSQNSU QPTNSGU LSNSOOSU TU KHTKT JQPKTDITPOSURMMRUCTPLSORU!ULSU2@UDSQNPSULRM? M=RDDSILSJRBSQPTULTASPSOSCRF .=QAATNORULQCN8UJQPOTPTNT"U ?U:MUJQDPQETGUPQETGUMIQDQUTULRORULSUPRKJSORG JQLSJTUASKJRMTGULQESJSMSQGUKOROQUJSCSMTGUNTJRHSOQ OTMTAQPSJQU LTMU KQDDTOOQU JISU RPLN8U SPOTKOROQ M=SEEQ<SMTGUSMU5IRMTULQCN8URPJ7TUHNTKTPORNKS RMMRUILSTPBRUASKKRORUHTNUMRUCTPLSORF )QPUKRN8UHQKKS<SMTUSPOTKORNTUM=SEEQ<SMTURUKQD? DTOOQULSCTNKQULRU5ITMMQUJ7TUKQOOQKJNSCTUM=QA? ATNORF *TUM=QAATNTPOTU!UJQPSIDROQUTUSPUNTDSETULSUJQ? EIPSQPTUMTDRMTULTSU<TPSGULQCNRPPQUTKKTNTUSP? LSJROSURPJ7TUSUJQNNSKHQPLTPOSULROSULTMUJQPSIDTFU )TMM=SHQOTKSULSURJ5ISKOQURUOSOQMQUHTNKQPRMTULR HRNOTULSUIPUJQPSIDTUSPUNTDSETULSUJQEIPSQPT LTSU<TPSGUQJJQNNTUHNQLINNTGUQMONTURMMRULSJ7SR? NRBSQPTU LSU 5ITKO=IMOSEQGU T U RNOF;+,GU JQFU ;'G MTOOFUAGUJQLSJTUJSCSMTGU5ITMMRULTMUJQPSIDTUPQP RJ5ISNTPOTULSUJISURMU>'UJQFULTMMRUETLTKSERULS? KHQKSBSQPTUPQNEROSCRF :PUJRKQULSULSJ7SRNRBSQPTUHNTKTPORORUJQPDSIP?
ORETPOTULRUHS UKQDDTOOSGULTCTUTKKTNTUSPLSJROQ JQMISUJ7TUR<<SRUM=TKJMIKSCRUARJQMO8ULSUAQNEI? MRNTUTCTPOIRMSUQAATNOTUSPURIETPOQF *TUM=QAATNTPOTU!UESPQNTPPTGUM=QAATNORULQCN8UTK? KTNTUKQOOQKJNSOORULRSUDTPSOQNSUHNTCSRURIOQNSBBR? BSQPTULTMU SILSJTU-IOTMRNTF *TUM=QAATNTPOTURDSKJTU5IRMTUMTDRMTUNRHHNTKTP? ORPOTULSURMONQUKQDDTOOQGULQCN8UTKKTNTURMMTDROQ JTNOSASJROQULTMUNTDSKONQULTMMTUSEHNTKTULRUJISUNS? KIMOSPQUSUHQOTNSUQCCTNQUMRUHNQJINRUQUM=ROOQULSUPQ? ESPRUJ7TUDSIKOSASJ7SUSUHQOTNSFU ?U:ULROSUSLTPOSASJROSCSULTMU<TPTUHTNUSMU5IRMTUM=QA? ATNORU!UHNQHQKORFU ?U .=SPLSJRBSQPTU LTMU HNTBBQU QAATNOQGU J7TU PQP HQON8UTKKTNTUSPATNSQNTURMUHNTBBQUESPSEQUSPLS? JROQUPTMM=RCCSKQULSUCTPLSORGURUHTPRULSUTKJMI? KSQPTF ?U.=TKHNTKKRULSJ7SRNRBSQPTULSURCTNUHNTKQUCS? KSQPTULTMMRUHTNSBSRULSUKOSERF /MM=QAATNORULQCN8UTKKTNTURMMTDRORUIPRUAQOQJQ? HSRULTMULQJIETPOQULSUSLTPOSO8ULTMM=QAATNTPOTG PQPJ7 UIPURKKTDPQUJSNJQMRNTUPQPUONRKATNS<SMT SPOTKOROQURU PQORSQU RNSQU SMRPDSQPTUHNQJT? LINRUTKTJIOSCRUPF;; &6U#F4F GUHTNUIPUSEHQNOQ HRNSURMU;@UHTNUJTPOQULTMUHNTBBQUQAATNOQGURUOSOQMQ LSUJRIBSQPTGUJ7TUKRN8UONROOTPIORUSPUJRKQULSUNS? ASIOQULTMM=RJ5ISKOQF )TKKIPRU KQEERU KRN8U NSJ7STKORGU SPU 5ITKOR ARKTU5IRMTUAQPLQUKHTKTF .=QAATNTPOTU!UOTPIOQURUHNTKTPORNKSURMM=ILSTPBR KQHNRUSPLSJRORULSUHTNKQPRGUQURUETBBQULSUERP? LRORNSQUEIPSOQULSUHNQJINRUKHTJSRMTUNSKIMORPOT LRUROOQUHI<<MSJQUQUKJNSOOINRUHNSCRORURIOTPOSJROR J7TU LQCN8U TKKTNTU LTHQKSORORU JQPOTKOIRM? ETPOTURMMRULSJ7SRNRBSQPTULTMUPQESPROSCQULTMMR HTNKQPRGULRUTAATOOIRNKSUPTMUOTNESPTULSUJISUURM? M=RNOF3&6FUJQF;'GUJFHFJFF :UHNQJINROQNSUMTDRMSUHQKKQPQUARNTUQAATNOTUHTN HTNKQPRULRUPQESPRNTF :PUJRKQULSURDDSILSJRBSQPTGUM=QAATNTPOTU!UOTPIOQ RMUCTNKRETPOQULTMUKRMLQUHNTBBQUTULTDMSUQPTNSG LSNSOOSUTUKHTKTULSUCTPLSORUPTMUOTNESPTUSPLSJROQ SPU QAATNORGU QCCTNQGU SPU ERPJRPBRGU TPONQU 2@ DSQNPSULRMM=RDDSILSJRBSQPTULTASPSOSCRUETLSRPOT LITULSKOSPOSURKKTDPSUJSNJQMRNSUPQPUONRKATNS<SMSUSP? OTKOROSURU PQORSQU RNSQU SMRPDSQPTUHNQJTLINR TKTJIOSCRU;; &6U#F4F GUIPQU5IRMTULSAATNTPBR HNTBBQULSURDDSILSJRBSQPTUTUIPQUHRNSURMUCTPOS HTNUJTPOQULTMUHNTBBQUKOTKKQU5IRMTUHNTKIES? <SMTUSEHQNOQUHTNUKHTKTFU :PUJRKQULSUSPRLTEHSETPOQGUM=RDDSILSJRBSQPT KRN8UNTCQJRORUTUM=RDDSILSJRORNSQUHTNLTN8UOIOOT MTUKQEETUCTNKROTFU :PUJRKQULSUHS UQAATNOTUCRMSLTGUKSUHNQJTLTN8UR DRNRUKIMMRU<RKTULTMMRUQAATNORUHS URMORFU :MU<TPTUCTNN8UHNQCCSKQNSRETPOTURDDSILSJROQUR J7SURCN8UTAATOOIROQUSMUNSMRPJSQUHS URMOQFU .RUCTPLSORURCCSTPTUPTMMQUKOROQULSUAROOQUTULSULS? NSOOQUSPUJISUSU<TPSUKSUONQCRPQGUJQPUOIOOTUMTUTCTP? OIRMSUHTNOSPTPBTGURJJTKKSQPSGUNRDSQPSUTLURBSQPSG KTNCSO UROOSCTUTUHRKKSCTFU .RUCTPLSORU!URUJQNHQUTUPQPURUESKINRGUTCTP? OIRMSULSAATNTPBTULSUESKINRUPQPUHQONRPPQULRN MIQDQURLURMJIPUNSKRNJSETPOQGUSPLTPPSO8UQUNSLI? BSQPTULTMUHNTBBQFU .RUCTPLSORUAQNBRORUPQPU!UKQDDTOORURMMTUPQNET JQPJTNPTPOSUMRUDRNRPBSRUHTNUCSBSUQUERPJRPBR LSU5IRMSO8GUP UHQON8UTKKTNTUNTCQJRORUHTNURMJIP EQOSCQFU (QPKTDITPOTETPOTUM=TKSKOTPBRULSUTCTPOIRMS CSBSGU ERPJRPBRU LSU 5IRMSO8U QU LSAAQNESO8U LTMMR JQKRUCTPLIORGUQPTNSULSU5IRMKSRKSUDTPTNTU USCS JQEHNTKSGURLUTKTEHSQGU5ITMMSUIN<RPSKOSJSUQC? CTNQU LTNSCRPOSU LRMMRU TCTPOIRMTU PTJTKKSO8U LS RLTDIRETPOQU LSU SEHSRPOSU RMMTU MTDDSU CSDTPOSG KHTKTUJQPLQESPSRMSULTMM=RPPQUSPUJQNKQUTULTM? M=RPPQUHNTJTLTPOTUPQPUHRDROTULRMULT<SOQNTU HTNU5IRMKSRKSUEQOSCQUPQPUJQPKSLTNROSGURPJ7T KTUQJJIMOSUTUJQEIP5ITUPQPUTCSLTPBSROSUSPUHT? NSBSRGUPQPUHQONRPPQULRNUMIQDQURLURMJIPUNSKRN? JSETPOQGU SPLTPPSO8U QU NSLIBSQPTU LTMU HNTBBQG TKKTPLQKSULSUJS UOTPIOQUJQPOQUPTMMRUCRMIOR? BSQPTULTSU<TPSFU .TUAQNERMSO8UDNRCRPOSUKIMM=SEEQ<SMTUKRNRPPQ JRPJTMMROTURUJINRUTUKHTKTULTMM=RDDSILSJRORNSQF *TUM=SEEQ<SMTU!UQJJIHROQULRMULT<SOQNTUQULR OTNBSUKTPBRUOSOQMQGUMRUMS<TNRBSQPTUUKRN8UTAATO? OIRORURUJINRULTMU(IKOQLTU SILSBSRNSQF %DPSU QPTNTU ASKJRMTU LTNSCRPOTU LRMMRU CTPLSOR KRN8URUJRNSJQULTMM=RDDSILSJRORNSQF TNUOIOOQU5IRPOQU5ISUPQPUHNTCSKOQUKSURHHMSJRPQ MTUCSDTPOSUPQNETULSUMTDDTF IRPOQURMMRUCTPLSORUJQPUSPJRPOQGUATNETUMTULS? KHQKSBSQPSUKQHNRUSPLSJROTGUKTUJQEHROS<SMSGUCRM? DQPQUMTUPQNETULSUJISURDMSURNOOFU3+2GU3&@GU3&1 TU3&3UJFHFJFF MSUQAATNTPOSULQCNRPPQULSJ7SRNRNTUMRUHNQHNSRUNT? KSLTPBRUPTMU(SNJQPLRNSQULTMU-NS<IPRMTULSU.R? ETBSRU-TNETUQUTMTDDTNTULQESJSMSQUSPU.RETBSR -TNETF %AATNOTUSPURIETPOQULSUIPU5ISPOQ" /U PQNERU LTMM=RNOFU 3&1U JFHFJFGU RCCTPIOQU M=SP? JRPOQGUHQKKQPQURPJQNRUTKKTNTUAROOTUQAATNOTULS RJ5ISKOQU TPONQU SMU OTNESPTU HTNTPOQNSQU LSU ;@ DSQNPSULRMMRUDRNRGUERUTKKTUPQPUKQPQUTAASJRJS KTU SMU HNTBBQU QAATNOQU PQPU KIHTNRU LSU ; 3U IP 5ISPOQ U5ITMMQUNRDDSIPOQUPTMM=SPJRPOQF
)VPQTRQSW OATHHUKMULTFUSRVW MUGVPP=W MVEURUQUGT MVLSPNUW24WHUSPRUWNVRFTWSEEVPQVWURWTKIVRQSC UGVRKQTWMVEURUQUGTWOATHHUKMULTFUSRVWMSGP=WVNB NVPVWGVPNTQTWRVUWNVNNTRQTWHUSPRUWNKLLVNNUGU OTW MUEEVPVRFTW MVOW JPVFFSW MUW THHUKMULTFUSRV IVMUTRQVWTNNVHRSWLUPLSOTPVWRSRWQPTNEVPU@UOV URQVNQTQSWTW RSQTUSW0TPUSW'UOTRHUSRVWJPSLVB MKPTWVNVLKQUGTW22 5*W,C<C WRSRL; WUOWGVRQUWJVP LVRQSWMVOWJPVFFSWMUWTHHUKMULTFUSRVWNVIJPV IVMUTRQVWTNNVHRSWLUPLSOTPVWRSRWQPTNEVPU@UOV URQVNQTQSWTW RSQTUSW0TPUSW'UOTRHUSRVWJPSLVB MKPTWVNVLKQUGTW22 5*W,C<C W>KTOVWJPVNKIU@UOV UIJSPQSWJVPWNJVNVC 8TOUW SEEVPQVW JSQPTRRSW VNNVPVW MVJSNUQTQV JPVNNSWOAURMUPUFFSWNSJPTWURMULTQSDWRVOOVWESPIV MUWLKUWTOOATPQCW- 2WLCJCLCDWJPVNQTRMSWLTKFUSRV JVPWKRTWNSIITWJTPUWTOWMSJJUSWMVOOTWLTKFUSRV GVPNTQTWJVPWOTWJTPQVLUJTFUSRVWTOOAURLTRQSCW?R LTNSWMUWJPVNVRQTFUSRVWMUWQTOUWSEEVPQVDWGVPP=WURB MVQQTWKRTWHTPTWNVLSRMSWOVWJPVGUNUSRUWMUWLKU TOOATPQCW-5 WLCJCLCC /VWRVNNKRSWMVHOUWSEEVPVRQUWURWTKIVRQSWJTPQVB LUJTWTOOTWHTPTWURMVQQTWTWRSPITWMVOOATPQCW-5 D LSIITW*DWLCJCLCDWOATHHUKMULTFUSRVWMUGVRQTWMVB EURUQUGTWVWGVPP=WJPSRKRLUTQTWTWLTPULSWMVHOUWSEB EVPVRQUW+NTOGSWL;VWPULSPPTWKRWMSLKIVRQTQSWV HUKNQUEULTQSWISQUGS1WOTWJVPMUQTWMVOOTWLTKFUSRVD UOWLKUWUIJSPQSW#WQPTQQVRKQSWLSIVWPURGVRUVRQVWT QKQQUWHOUWVEEVQQUWMTOOAVNVLKFUSRVCW 9HRUWMSITRMTWMUWPVNQUQKFUSRVWMVOOTWLTKFUSRV MSGP=WVNNVPVWURMUPUFFTQTWMTHOUWSEEVPVRQUWTOW$UKB MULVWMVOOA<NVLKFUSRVCW
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
6 ) +! +VKPSW QPVRQTB >KTQQPSIUOTLUR>KVLVRQSSQQTRQTRSGVW GUPHSOT GVRQULUR>KV1 %,6 12//413/436 '46 5(2#45 2/(2+6*2#43,26 4.5*1/3+603/#43,264((3 $4-45/26 5.2,12605/126'2-6 5$$/4.5136'46"2. . 4**4(56 .3*1/ #43,26 03*136 5--56 "45 %003-4136 %003-413+6*2,#56,).)6260/2.4*5 (2,1264-6-3.5-2656045,3612//56 5/5 2 +6.3, 5..2**36 '56 "456 %003-4136 %003-413+6 '2--5 * 02/ 4.426'46.4/.56( )!& /403/15136,2-6.3//4*03,'2,126 515*136 5$ $/4.51465-6 3 -436'46(50056& +605/14.2--5 & ! * $)6 +6 "456 %003-4136 %003-413+6 *,.+ 045,36 +6#).)& +6.51) +6.-) +6( )!&+6/2,') .51)6 6 + &
6 ) !&+ +VKPSWLUR>KVIUB OTSQQSLVRQSGVRQKRSWGUPHSOTWSQQTRQSQQS1 %,6 12//413/436 '46 5(2#45 2/(2+6*2#43,26 4.5*1/3+603/#43,264((3 $4-45/26 5.2,12605/126'2-6 5$$/4.5136'46"2. . 4**4(56 .3*1/ #43,26 03*136 5--56 "45 %003-4136 %003-413+6*2,#56,).)6260/2.4*5 (2,1264-6-3.5-2656045,3612//56 5/5 2 +6.3, 5..2**36 '56 "456 %003-4136 %003-413+6 '2--5 * 02/ 4.426'46.4/.56( )! /403/15136,2-6.3//4*03,'2,126 515*136 5$ $/4.51465-6 3 -436'46(50056& +605/14.2--5 & ! * $) +6 "456 %003-4136 %003-413+6 *,.+ 045,36 +6#).)& +6.51) !+6.-) +6( )! +6/2,') .51)6 6&! +
6 ) + +VKPSWLUR>KVIUB OTFVPSQPVRQT>KTQQPSWGUPHSOTWQPVRQSQQS1 %,6 12//413/436 '46 5(2#45 2/(2+6*2#43,26 4.5*1/3+603/#43,264((3 $4-45/26 5.2,12605/126'2-6 5$$/4.5136'46"2. . 4**4(56 .3*1/ #43,26 03*136 5--56 "45 %003-4136 %003-413+6*2,#56,).)6260/2.4*5 (2,1264-6-3.5-2656045,3612//56 5/5 2 +6.3, 5..2**36 '56 "456 %003-4136 %003-413+6 '2--5 * 02/ 4.426'46.4/.56( )& /403/15136,2-6.3//4*03,'2,126 515*136 5$ $/4.51465-6 3 -436'46(50056& +605/14.2--5 & ! * $)& +6 "456 %003-4136 %003-413+6 *,.+ 045,36 +6#).)& +6.51) +6.-) +6( )& +6/2,') .51)6 6 +&
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
JVPNSRTDWMTWVEEVQQKTPNUWRVOWQVPIURVWMUWLKUWWTOB OATPQC-5*CWLSC2 DWLCJCLCC ?WJPSLKPTQSPUWOVHTOUWJSNNSRSWETPVWSEEVPQVWJVP JVPNSRTWMTWRSIURTPVC ?RWLTNSWMUWTHHUKMULTFUSRVDWOASEEVPVRQVW#WQVRKQS TOWGVPNTIVRQSWMVOWNTOMSWJPVFFSWVWMVHOUWSRVPUD MUPUQQUWVWNJVNVWMUWGVRMUQTWRVOWQVPIURVWURMULTQS URW SEEVPQTDW SGGVPSDW URW ITRLTRFTDW VRQPSW !4 HUSPRUWMTOOATHHUKMULTFUSRVWIVMUTRQVWMKVWMUB NQURQUWTNNVHRUWLUPLSOTPUWRSRWQPTNEVPU@UOUWURQVNQTQU TW RSQTUSW0TPUSW'UOTRHUSRVWJPSLVMKPTWVNVLKB QUGTW&* 55W,C<C DWKRSW>KTOVWMUEEVPVRFTWJPVFFS MUW THHUKMULTFUSRVW VW KRSW JTPUW TOW GVRQUW JVP LVRQSW MVOW JPVFFSW NQVNNSW >KTOVW JPVNKIU@UOV UIJSPQSWJVPWNJVNVCW ?RWLTNSWMUWURTMVIJUIVRQSDWOATHHUKMULTFUSRV NTP=WPVGSLTQTWVWOATHHUKMULTQTPUSWJVPMVP=WQKQQV OVWNSIIVWGVPNTQVCW ?RWLTNSWMUWJU WSEEVPQVWGTOUMVDWNUWJPSLVMVP=WT HTPTWNKOOTW@TNVWMVOOTWSEEVPQTWJU WTOQTCW ?OW@VRVWGVPP=WMVEURUQUGTIVRQVWTHHUKMULTQSWT L;UWTGP=WVEEVQQKTQSWUOWPUOTRLUSWJU WTOQSCW 6TWGVRMUQTWTGGUVRVWRVOOSWNQTQSWMUWETQQSWVWMUWMUB PUQQSWURWLKUWUW@VRUWNUWQPSGTRSDWLSRWQKQQVWOVWVGVRB QKTOUWJVPQURVRFVDWTLLVNNUSRUDWPTHUSRUWVMWTFUSRUD NVPGUQ WTQQUGVWVWJTNNUGVCW 6TWGVRMUQTW#WTWLSPJSWVWRSRWTWIUNKPTDWVGVRB QKTOUWMUEEVPVRFVWMUWIUNKPTWRSRWJSQPTRRSWMTP OKSHSWTMWTOLKRWPUNTPLUIVRQSDWURMVRRUQ=WSWPUMKB FUSRVWMVOWJPVFFSCW 6TWGVRMUQTWESPFTQTWRSRW#WNSHHVQQTWTOOVWRSPIV LSRLVPRVRQUWOTWHTPTRFUTWJVPWGUFUWSWITRLTRFT MUW>KTOUQ=DWR WJSQP=WVNNVPVWPVGSLTQTWJVPWTOLKR ISQUGSCW (SRNVHKVRQVIVRQVWOAVNUNQVRFTWMUWVGVRQKTOU GUFUDW ITRLTRFTW MUW >KTOUQ=W SW MUEESPIUQ=W MVOOT LSNTWGVRMKQTDWSRVPUWMUW>KTONUTNUWHVRVPVW WUGU LSIJPVNUDWTMWVNVIJUSDW>KVOOUWKP@TRUNQULUWSGB GVPSW MVPUGTRQUW MTOOTW VGVRQKTOVW RVLVNNUQ=W MU TMVHKTIVRQSW MUW UIJUTRQUW TOOVW OVHHUW GUHVRQUD NJVNVWLSRMSIURUTOUWMVOOATRRSWURWLSPNSWVWMVOB OATRRSWJPVLVMVRQVWRSRWJTHTQVWMTOWMV@UQSPVW JVPW>KTONUTNUWISQUGSWRSRWLSRNUMVPTQUDWTRL;V NVWSLLKOQUWVWLSIKR>KVWRSRWVGUMVRFUTQUWURWJVB PUFUTDWRSRWJSQPTRRSWMTPWOKSHSWTMWTOLKRWPUNTPB LUIVRQSDW URMVRRUQ=W SW PUMKFUSRVW MVOW JPVFFSD VNNVRMSNUWMUWLU WQVRKQSWLSRQSWRVOOTWGTOKQTB FUSRVWMVUW@VRUCW 6VWESPITOUQ=WHPTGTRQUWNKOOAUIIS@UOVWNTPTRRS LTRLVOOTQVWTWLKPTWVWNJVNVWMVOOATHHUKMULTQTPUSC /VWOAUIIS@UOVW#WSLLKJTQSWMTOWMV@UQSPVWSWMT QVPFUWNVRFTWQUQSOSDWOTWOU@VPTFUSRVWWNTP=WVEEVQB QKTQTWTWLKPTWMVOW(KNQSMVW$UKMUFUTPUSC 9HRUW SRVPVW EUNLTOVW MVPUGTRQVW MTOOTW GVRMUQT NTP=WTWLTPULSWMVOOATHHUKMULTQTPUSC )VPWQKQQSW>KTRQSW>KUWRSRWJPVGUNQSWNUWTJJOULTRS OVWGUHVRQUWRSPIVWMUWOVHHVC KTRQSWTOOTWGVRMUQTWLSRWURLTRQSDWEVPIVWOVWMUB NJSNUFUSRUWNSJPTWURMULTQVDWNVWLSIJTQU@UOUDWGTOB HSRSWOVWRSPIVWMUWLKUWTHOUWTPQQCW- !DW-54DW-5 VW-5-WLCJCLCC $OUWSEEVPVRQUWMSGPTRRSWMUL;UTPTPVWOTWJPSJPUTWPVB NUMVRFTWRVOW(UPLSRMTPUSWMVOW8PU@KRTOVWMUW6TB IVFUTW8VPIVWSWVOVHHVPVWMSIULUOUSWURW6TIVFUT 8VPIVC KTRQSWTOOTWGVRMUQTWLSRWURLTRQS3 9HRUWSEEVPVRQVWMSGP=WMVJSNUQTPVWJPVNNSWOA:NB NSLUTFUSRVW 7SQTPUOVW )PSLVMKPVW <NVLKQUGV JPVNNSWUOW8PU@KRTOVWMUW6TIVFUTW8VPIVWVRQPSWOV SPVW2.D44WMVOWHUSPRSW22WHUKHRSW.42.W@KNQT L;UKNTW LSRQVRVRQVW MSITRMTW MUW JTPQVLUJTB FUSRVWURWLTPQTWMTW@SOOSC 6TWMSITRMTWMSGP=WLSRQVRVPV3 T1BW NVW JVPNSRTW EUNULT3W BW LSHRSIVDW RSIVD OKSHSWVWMTQTWMUWRTNLUQTDWLSMULVWEUNLTOVDWMSIUB LUOUSWVWPVNUMVRFTDWNQTQSWLUGUOVDWPVLTJUQSWQVOVESB RULSW MVOW PUL;UVMVRQV W URW LTNSW OSW NQVNNSW NUT LSRUKHTQSDWUOWNKSWPVHUIVWJTQPUISRUTOVDWLSRWURB MULTFUSRVW W>KTOSPTWLSRUKHTQSWURWPVHUIVWMU LSIKRUSRVWOVHTOVW WMVOOVWHVRVPTOUQ=WMVOWLSB RUKHVC :OOTW MSITRMTW MSGPTRRSW VNNVPVW TOOVHTQV LSJUVWESQSNQTQUL;VWMUWKRWGTOUMSWMSLKIVRQSWMU UMVRQUQ=WVWMVOWLSMULVWEUNLTOVW+TRL;VWMVOWLSB RUKHVWNVWURWPVHUIVWMUWLSIKRUSRVWOVHTOV1C KTOSPTWMVQQTWJVPNSRTWEUNULTWMSGVNNVWJTPQVB LUJTPVWURW>KTOUQ=WMUWQUQSOTPVWMUWSISRUITWMUQQT URMUGUMKTOVDWMSGP=WVNNVPVWURMULTQTWOTWJTPQUQT ?":WVWTOOASEEVPQTWMSGP=WVNNVPVWTOQPVN WTOOVHTQT KRTW PVLVRQVW GUNKPTW LTIVPTOVW MVOOTW MUQQT NQVNNTC @1BW NVW NSLUVQ=W SW VRQV3W MTQUW UMVRQUEULTQUGUDW URB LOKNTWOTWJTPQUQTW?":WV SWLSMULVWEUNLTOVDWPVLTB JUQSW QVOVESRULSDW RSRL; W RSIVDW LSHRSIVD OKSHSWVWMTQTWMUWRTNLUQTWMVOWOVHTOVWPTJJPVNVRB QTRQVCW :OOTWMSITRMTWMSGPTRRSWVNNVPVWTOOVHTQUWNUT KRTWPVLVRQVWGUNKPTWLTIVPTOVW+MTOOTW>KTOVWPUB NKOQUWOSWNQTQSWMVOOTWNSLUVQ=WSWVRQVWVMWUWJSQVPU LSREVPUQUWTOOASEEVPVRQVWURWKMUVRFT1WNUTWLSJUTWESB QSNQTQULTWMUWKRWGTOUMSWMSLKIVRQSWMUWUMVRQUQ=WMU MVQQSWSEEVPVRQVC L1BWTNNVHRSWLUPLSOTPVWRSRWQPTNEVPU@UOVWJTPUWTO 24 W+MUVLUWJVPWLVRQS1WMVOWJPVFFSW@TNVWMATNQTD TWQUQSOSWMUWLTKFUSRVDWURQVNQTQSWTW RSQTUSW0TPUS 'UOTRHUSRVWJPSLVMKPTWVNVLKQUGTW&* 55W,C<C C /UWJPVLUNTWL;VWURWLTNSWMUWITRLTQTWTHHUKMULTB
DRPOSETKSNNPTQJJSBOPTJQL;TLSJNRNGRNPTRFFSKRQ? NQFSONS@ .CCSLNSTROTQGFSONPTKRTGOT5GRONP 1T OPLFQT KSMM=QLN@T 7% T I@H@I@ET QAASOGNPT M=RO? IQONPETHPJJPOPTQOIPLQTSJJSLSTCQNNSTPCCSLNSTKR QI5GRJNPT SONLPT RMT NSLFROST HSLSONPLRPT KRT 42 BRPLORTKQMMQTBQLQETFQTSJJSTOPOTJPOPTSCCRIQIR JST RMT HLSDDPT PCCSLNPT OPOT JGHSLQT KRT 4 7T $GO 5GRONP(T5GSMMPTLQBBRGONPTOSMM=ROIQONP@ SLNQONPT M=QBBRGKRIQDRPOST KRASLL;T KSCRORNRAQ KSIPLJRT42TBRPLORTJSODQTPCCSLNSTROTQGFSONP@ #RASOGNQTKSCRORNRAQTM=QBBRGKRIQDRPOSTKPAL;TSJ? JSLSTASLJQNQTOSRTJSJJQONQTBRPLORTJGIISJJRAR MQT KRCCSLSODQT KSMT HLSDDPT KRT QBBRGKRIQDRPOS FSKRQONSTQJJSBOPTIRLIPMQLSTOPOTNLQJCSLR>RMS RONSJNQNPTQT OPNQRPT!QLRPT RMQOBRPOSTHLPIS? KGLQT SJSIGNRAQT "/ %%T @6@ T OPOI8 T RMT ASONR HSLTISONPTKSMTHLSDDPTKRTQBBRGKRIQDRPOSTJSF? HLSTFSKRQONSTQJJSBOPTIRLIPMQLSTOPOTNLQJCSLR? >RMST RONSJNQNPT QT OPNQRPT !QLRPT RMQOBRPOS HLPISKGLQTSJSIGNRAQT"/ %%T @6@ T5GQMSTHLS? JGFR>RMSTRFHPLNPTHSLTJHSJS@ ,QMRT PCCSLNST HPNLQOOPT SJJSLST KSHPJRNQNS HLSJJPTM=ROKRLRDDPTJPHLQTROKRIQNPETOSMMSTCPLFS KRTIGRTQMM=QLN@T7*4TI@H@I@ETHLSJNQOKPTIQGDRPOS HSLTGOQTJPFFQTHQLRTQMTKPHHRPTKSMMQTIQGDRPOS ASLJQNQTHSLTMQTHQLNSIRHQDRPOSTQMM=ROIQONP@T9O IQJPTKRTHLSJSONQDRPOSTKRTNQMRTPCCSLNSETASLL;TRO? KSNNQTGOQTBQLQTJSIPOKPTMSTHLSARJRPORTKRTIGR QMM=QLN@T7% TI@H@I@@ 'STOSJJGOPTKSBMRTPCCSLSONRTROTQGFSONPTHQLNS? IRHQTQMMQTBQLQTROKSNNQTQTOPLFQTKSMM=QLN@T7% E IPFFQT/ETI@H@I@ETM=QBBRGKRIQDRPOSTKRASONQTKS? CRORNRAQTSTASLL;THLPOGOIRQNQTQTIQLRIPTKSBMRTPC? CSLSONRT$JQMAPTI8STLRIPLLQTGOTKPIGFSONQNPTS BRGJNRCRIQNPTFPNRAP(TMQTHSLKRNQTKSMMQTIQGDRPOSE RMTIGRTRFHPLNPT)TNLQNNSOGNPTIPFSTLROASORSONSTQ NGNNRTBMRTSCCSNNRTKQMM=SJSIGDRPOS@T.BORTKPFQOKQ KRTLSJNRNGDRPOSTKSMMQTIQGDRPOSTKPAL;TSJJSLS ROKRLRDDQNQTKQBMRTPCCSLSONRTQMT RGKRISTKSMM=6JS? IGDRPOS $: : : :F& 4;;1 ?T'6 @T6'@T9!!@T? 9-T 9 #906T#6--<6'60 9.+6 -SNNRTBMRTQNNRTKSMTHLPISKRFSONP: HLSJPTQNNPTKSMM<RJNQODQTKRTASOKRNQTCPLFGMQNQ KQMTILSKRNPLSTHLPISKSONS: LRMSAQNPTI8STIGJNPKRTKSRT>SORTHRBOPLQNRTJPOPTR KS>RNPLR: LRNSOGNPT KRT HPNSLT IPOKRARKSLST ST HLSOKSLST Q CPOKQFSONPTKSMTHLPJRSBGPTKSMMQTHLPISKGLQTMS IPOIMGJRPORTKSMMQTLSMQDRPOSTKSMM<SJHSLNPETROTPL? KROSTJRQTQMM<ROKRARKGQDRPOSTKSMTIPFHSOKRPTRF? FP>RMRQLSTI8STKSMMQTJNRFQTKSRTLSMQNRAPTAQMPLS KRTFSLIQNP: LQAARJQNSETHSLNQONPETMSTIPOKRDRPORTHSLTHLPIS? KSLSETQRTJSOJRTKSBMRTQLNN@T7&"ET7*4TST7*&TI@H@I@E IPFSTOPASMMQNRTKQMMSTMSBBRT%2 3227ET3&/ 3227 ST74 322&: . #9+1 HSLTRMTBRPLOPT(F.E6.=CF4;24>FC?BF&:0;> MQTASO? KRNQTIPOTROIQONPTKSRTTJSBGSONRTRFFP>RMR ?T D--?E<DACF?6?D@BF7EF5+:F22*> D7E-EACF<D9DF<C@C=E<D>F8C9ACFDF-?B%BF7E) 9AD=,DF7D@F<B=A?CF9AC?E<CF7B@F'C56=BF7E B??D9A?BAADFBF?E8C?ADACF=B@F$' FD@F/C.@EC 0>F8:@@DF20;3"
#F(:*3;>;; ?T F ED=CF9B5E=AB??DACF7EF6=F<C=) 9E9AB=ABF/D--?E<DACFDFA?BF8ED=EF C@A?BF9CAAC) ABAAC >F8ED=CF9B5E=AB??DACFBF8ED=CFAB??DF7E 6=F/D--?E<DACF7EF8E F5C7B9ABF7E5B=9EC=E D7ED<B=ABFD@F8?E5CFBFAB??B=CF@E5EA?C/CFE= 8D?ABF6?-D=E,,DAC:F FA6AACF F?E8C?ADACF=B@ $' F7B@F'C56=BF7EF B<C@@DA6?D>F C<D@EA D<<!ED>F D@F /C.@ECF 1&>F 8:@@DF 4(4>F 96-:F 0> 8ED=CF 2F) >F' 4>F<@D99BF2>F<C=9E9AB=,DF04( 5+>F =C=<! F =B@F $' F 7B@F 5B7B9E5CF <C) 56=BFD@F/C.@ECF1&>F8:@@BF012>F0&2>F0&4>F0&0"
#F2**:13;>;; ?T ED=CFAB??D>F8?E5CFBF9CAAC) ABAACF 7EF 6=F <C=9E9AB=ABF /D--?E<DACF DF A?B 8ED=EF/6C?EFAB??D>FC@A?BF9CAACABAAC:F @F<C5) 8B=7EC>F D%B=ABF 6=DF 968B?/E<EBF <C55B?) <ED@BF7EF5+F142>F F?E8C?ADACF=B@F$' F7B@ <C56=BF7EF B<C@@DA6?D>F C<D@EA F D<<!ED> D@F/C.@ECF1&>F8:@@DF4(4>F96-:F*>F8ED=CF )4>FE= <C?9CF7EF<C9A?6,EC=B>F96-:F3>F8ED=CF )4>FE= <C?9CF 7EF <C9A?6,EC=B>F 96-:F (>F 8ED=CF 2)4> <@D99BF0>F%D=EF1>3FBF96-:F1>F8ED=CF2)4>FE= <C?9CF7EF<C9A?6,EC=B"
#F220:1;;>;; ?T 88B,,D5B=ACF 7EF AB??B=C D.?E<C@CF9EACFE=F B??D9A?BAAD>F C<D@EA F EAB) ?D@B>F?E8C?ADACF=B@F$' FD@F/C.@ECF4;>F8:@@D 43;>F7EF5+:F4:2;;>FD@F/C.@ECF42>F8:@@DF44F7E 5+:F34(;"
#F*: 13>;; ?T 88B,,D5B=ACF7EFAB??B=CFD.?E) <C@CF9EACFE=F @DAD=ED>F?E8C?ADACF=B@F$' FD@ /C.@ECF43>F8:@@DF3*(F7EF5+:F4:1;;>F8:@@DF3*1 7EF5+:F13>F8:@@DF3* F7EF5+:F2;;>F8:@@DF334F7E 5+:F4;1>F8:@@DF330F7EF5+:F0>F8:@@DF021F7EF5+: (;>F8:@@DF2;*F7EF5+:F2:3(1>F8:@@DF2(1F7EF5+:
4 FBF8:@@DF*;1F7EF5+:F0;;:
#F*:(3;>;; MRTRFFP>RMRTASOBPOPTHPJNRTROTASOKRNQTOSMMP JNQNPTKRTCQNNPTSTKRTKRLRNNPTROTIGRTJRTNLPAQOPETIPJ IPFST RKSONRCRIQNRET KSJILRNNRT RT ST AQMGNQNRT KQM? M<SJHSLNPTOSMMQTLSMQDRPOSETIPOTPBORTSASONGQMS JSLARN TQNNRAQTSTHQJJRAQTROSLSONSTQT5GPNSTIPO? KPFRORQMRTLSMQNRAS@ -QTASOKRNQT)TQTIPLHPTSTOPOTQTFRJGLQ:TSASO? NGQMRTKRCCSLSODSTKRTFRJGLQTOPOTHPNLQOOPTKQL MGPBPTQKTQMIGOTLRJQLIRFSONPETROKSOORN;TPTLRKG? DRPOST KSMT HLSDDP:T MQT ASOKRNQT CPLDQNQT OPOT ) JPBBSNNQTQMMSTOPLFSTIPOISLOSONRTMQTBQLQODRQ HSLTARDRTPTFQOIQODQTKRT5GQMRN;ETO THPNL;TSJ? JSLSTLSAPIQNQTHSLTQMIGOTFPNRAP@T0POJSBGSO? NSFSONST M<SJRJNSODQT KRT SASONGQMRT ARDRE FQOIQODQTKRT5GQMRN;TPTKRCCPLFRN;TKSMMQTIPJQ ASOKGNQETPOSLRTKRT5GQMJRQJRTBSOSLST?RARTIPF? HLSJRT?ETQKTSJ@T5GSMMRTGL>QORJNRIRTPAASLPTKSLR? AQONRT KQMM<SASONGQMST OSISJJRN;T KR QKSBGQFSONPT KRT RFHRQONRT QMMST MSBBRT ARBSONRE JHSJSTIPOKPFRORQMRTKSMM<QOOPTROTIPLJPTSTKSM? M<QOOPTHLSISKSONSTOPOTHQBQNSTKQMTKS>RNPLST?E HSLT5GQMJRQJRTFPNRAPTOPOTIPOJRKSLQNRETQOI8S JSTPIIGMNRTSTIPFGO5GSTOPOTSARKSODRQNRTROTHS? LRDRQETOPOTHPNLQOOPTKQLTMGPBPTQKTQMIGOTLRJQL? IRFSONPET ROKSOORN;T PT LRKGDRPOST KSMT HLSDDPE SJJSOKPJRTKRTIR TNSOGNPTIPONPTOSMMQTAQMGNQ? DRPOSTKSRT>SOR@ .BORTIPOIPLLSONSETHSLTSJJSLSTQFFSJJPTQM? M<ROIQONPETKSASTHLSJSONQLSETSONLPTMSTPLST4/@22 KSMTBRPLOPT7TBRGBOPT3243ETOSMMQT0QOISMMSLRQ KSMMST6JSIGDRPORT9FFP>RMRQLRETRJNQODQTKRTHQL? NSIRHQDRPOSETROTLSBPMQTIPOTRMT>PMMPETLSIQONSETQ HSOQTKRTROSCCRIQIRQETM<ROKRIQDRPOSTKSMTOGFSLP KRT @ @6@TKSMMQTHLPISKGLQETRMT>SOSTPTRMTMPNNPTIGR M<RJNQODQTJNSJJQTJRTLRCSLRJISETMSTHLPHLRSTBSOS? LQMRN;T$OPFSETIPBOPFSETMGPBPTSTKQNQTKRTOQ? JIRNQETIPKRISTCRJIQMSETLSJRKSODQETJNQNPTIRARMSTSE JSTIPORGBQNPETLSBRFSTHQNLRFPORQMSTCLQTRTIP? ORGBR(@ 1MM<RJNQODQTKRTHQLNSIRHQDRPOSTKSASTSJJSLSTQM? MSBQNQTIPHRQTKRTAQMRKPTKPIGFSONPTKRTRKSONRN; KSMTIPOIPLLSONSTSETJSTOSISJJQLRPETAQMRKQTKP? IGFSONQDRPOSTIPFHLPAQONSTRTHPNSLRTPTMQTMSBRN? NRFQDRPOST KSMMPT JNSJJPT $QKT SJ@T HLPIGLQ JHSIRQMSTPTISLNRCRIQNPTIQFSLQMS(@T9OTIQJPTKRTKR? I8RQLQDRPOSTKRTHQLNSIRHQDRPOSTHLSJSONQNQTKQ HR TJPBBSNNRETKSASTSJJSLSTROKRIQNPTIPMGRTI8S Q>>RQTM<SJIMGJRAQTCQIPMN;TKRTCPLFGMQLSTSASO? NGQMRTPCCSLNSTROTQGFSONP@ 0POTM<RJNQODQTKRTHQLNSIRHQDRPOSETKQTHLSJSO? NQLJRTROT>GJNQTI8RGJQETJSODQTJSBORTKRTLRIPOP? JIRFSONPETKSASTSJJSLSTKSHPJRNQNPTQJJSBOP IRLIPMQLSTRONSJNQNPTQMMST PJNST9NQMRQOSTJ@H@Q@ E NLQFRNSTIGRTSCCSNNGQLSTRMTASLJQFSONPTKSMMQTIQG? DRPOST$SKTROTIPONPTHLSDDPTKRTQBBRGKRIQDRPOS(E ROT LQBRPOST KRT GOT KSIRFPT KSMT HLSDDPT >QJS K<QJNQ@T1MM<SJNSLOPTKSMMQT>GJNQTAQOOPTQOOPNQNRE QTIGLQTKSMT0QOISMMRSLSTLRISASONSETRMTOPFSETHLS? ARQTRKSONRCRIQDRPOSETIRTI8RTFQNSLRQMFSONSTHLPA? ASKST QMT KSHPJRNPET RMT OPFST KSMT RGKRIS KSMM<SJSIGDRPOSTSTMQTKQNQTKSMM<GKRSODQTCRJJQNQ HSLT MQT ASOKRNQ:T MST >GJNST JQLQOOPT QHSLNST QM? M<GKRSODQTJNQ>RMRNQTHSLTM<ROIQONPTQMMQTHLSJSODQ KSBMRTPCCSLSONRETPASTIPFHQLJR@TT -ST ETQTHSOQTKRTROQFFRJJR? >RMRN;ET OPOT KSAPOPT SJJSLST ROCSLRPLRT QKT B6?C *;;>;; HSLTRMTMPNNPTO@M:TQKT#F0;;>;;FHSLTRMTMPNNP O@3:TQKT#F&:;;;>;; HSLTRMTMPNNPTO@/:TQKTB6?C 1:;;;>;; HSLTRMTMPNNPTO@T :TQKTB6?CF43;>;; HSL RMTMPNNPTO@7TSTQKT#F4*;>;; HSLTRMTMPNNPTO@&@T9MTHQ? BQFSONPTKSMTHLSDDPTKRTQBBRGKRIQDRPOSETKS? KPNNQTMQTIQGDRPOSTBR;THLSJNQNQETKSASTSJJSLS SCCSNNGQNPTKQMM<QBBRGKRIQNQLRPTOSMMQT0QOISMMSLRQ KSMMSTSJSIGDRPORT9FFP>RMRQLRTSONLPTRMTJSJJQO? NSJRFQTBRPLOPTKQMMQTKQNQTKRTQBBRGKRIQDRPOSE FSKRQONST QJJSBOPT IRLIPMQLST RONSJNQNPT QMMS PJNST 9NQMRQOST J@H@Q@ 'PMNQONPT QMM<SJRNPT KSM? M<QKSFHRFSONPTHLSISKSONSETKSMMQTHLPKGDRPOS KRTQBBRPLOQNRTISLNRCRIQNRTIQNQJNQMRTSTKRTQBBRPLOQNR ISLNRCRIQNRTLSMQNRARTQMMSTRJILRDRPORTSTNLQJILRDRPOR SCCSNNGQNST JGMT >SOST OPOI8 T KSMT HQBQFSONP KSMMSTJHSJSTKRTNLQJCSLRFSONPTKQTHQLNSTKSMM<QB? BRGKRIQNQLRPETIGRTLSJNQOPTLRJSLAQNSTMSTQNNRARN;TS RT IPJNRT HSLT MQT IQOISMMQDRPOST KSMMST CPLFQMRN;E JQL;TSFSJJPTRMTKSILSNPTKRTNLQJCSLRFSONPET QR JSOJRTKSMM<QLN@T7%&TI@H@I@@ -QTHG>>MRIRN;TKSMMQTHLSJSONSTPLKROQODQTKRTASO? KRNQT KSAST SJJSLST SCCSNNGQNQT OSMT NSLFROST KR 5GQLQONQIRO5GSTBRPLORTHLRFQTKSMTNSLFROSTHSL MQT HLSJSONQDRPOST KSMMST PCCSLNST PT KSMMQT KQNQ
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
GQONPTQMMQTASOKRNQTJSODQTROIQONPETKQTSCCSN? NGQLJRTQMT KRTB6?CF*1:22;>(3 HSLTRM MPNNPTO@T4ETSTKRTB6?CF40:220>&; HSLTRMTMPNNPTO@T3 IRQJIGOT PCCSLSONSET QRT JSOJRT KSMM=QLN@T 7*4E IPFFQT 4ET I@H@I@ET NLQOOST RMT KS>RNPLSET )T QF? FSJJPTQTCPLFGMQLSTPCCSLNSTHSLTM=QI5GRJNPTHSL? JPOQMFSONSTPTQTFSDDPTKRTHLPIGLQNPLSTMSBQMSE QOI8STQTOPLFQTKSMM=QLN@T7*"ETIPFFQT/ETI@H@I@ $RMTHLPIGLQNPLSTMSBQMSTKPAL;ETROTPBORTIQJPETSJ? JSLSTFGORNPTKRTFQOKQNPTJHSIRQMSTLRJGMNQONSTKQ QNNPTHG>>MRIPTPTJILRNNGLQTHLRAQNQTQGNSONRIQNQE OPOTSJJSOKPTJGCCRIRSONSTM=PLKROQLRPTFQOKQNP QMMST MRNR:T OSMM=RHPNSJRT KRT IGRT QMT IRNQNPT QLN@T 7*"E IPFFQT/ETRMTFQOKQNPTJHSIRQMSTLRJGMNQONSTKQ QNNPTHG>>MRIPTPTJILRNNGLQTHLRAQNQTQGNSONRIQNQ KPAL;T SJJSLST KSHPJRNQNPT IPONSJNGQMFSONS QMMQTKRI8RQLQDRPOSTKSMTOPFROQNRAPTKSMMQTHSL? JPOQETKQTSCCSNNGQLJRTOSMTNSLFROSTKRTIGRTQMM=QLN@ 7%/ETIPFFQT4ETI@H@I@(ETHLSJSONQOKPTHLSJJP MQT0QOISMMSLRQTKSMMST6JSIGDRPORT9FFP>RMRQLRE KRI8RQLQDRPOSETROTLSBPMQTIPOTRMT>PMMPETIPONS? OSONSETQTHSOQTKRTROSCCRIQIRQETM<ROKRIQDRPOSTKSM OGFSLPTKRTL@B@S@TKSMMQTHLPISKGLQETKSMT>SOST$S KSMTMPNNP(TIGRTM=PCCSLNQTJRTLRCSLRJISETKSMTHLSDDPE KSMTNSFHPETKSMTFPKPTKSMTHQBQFSONPTSTKRTPBOR QMNLPTSMSFSONPTGNRMSTQMMQTAQMGNQDRPOSTKSMM<PC? CSLNQ: KSNNQT KRI8RQLQDRPOST KSASET QMNLSJ ET LSIQLST MS BSOSLQMRN;T KSMM=PCCSLSONST $OPFSET IPBOPFSE MGPBPTSTKQNQTKRTOQJIRNQETIPKRISTCRJIQMSETLSJR? KSODQ KPFRIRMRPETJNQNPTIRARMSTSETJSTIPORGBQNPE LSBRFSTHQNLRFPORQMSTCLQTRTIPORGBR: ROTIQJPTKRTIPFGORPOSTMSBQMSTKSRT>SORETPIIPL? LSL;TROKRIQLSTQOI8STMSTBSOSLQMRN;TKSMTIPORGBS OPOTPCCSLSONSETQMTCROSTKRTHPNSLTNLQJCSLRLSTQKTSO? NLQF>RETHLPT5GPNQETRMT>SOSETROTIQJPTKRTQBBRGKR? IQDRPOS:T OSMM=RHPNSJRT KRT QI5GRJNPT QT NRNPMP HSLJPOQMSTKQTHQLNSTKRTGOTIPORGBSTROTLSBRFS KRT IPFGORPOST KSRT >SORET PIIPLLST HLPKGLLSE PMNLSTQMMQTKRI8RQLQDRPOSTKRT5GSJN=GMNRFPETS TQLN@ 4*"ETIPFFQT4ETMSNN@TCETIPK@TIRA@E 5GSMMQTKSMTIPORGBSTOPOTQI5GRLSONSTKRTIGRTQM JSIPOKPT IPFFQT KSMMQT FSKSJRFQT KRJHPJR? DRPOSTOPLFQNRAQ(ETM=SJHLSJJQTKRI8RQLQDRPOSTKR QASLTHLSJPTARJRPOSTKSMMQTHSLRDRQTKRTJNRFQTSK SJJSLST IPLLSKQNQT KQT IPHRQT KRT AQMRKPT KPIG? FSONPTKRTRKSONRN;TKSMM=PCCSLSONSTSETJSTOSISJ? JQLRPET KQT AQMRKQT KPIGFSONQDRPOS IPFHLPAQONSTRTHPNSLRTPTMQTMSBRNNRFQDRPOSTKSMMP JNSJJPT$QKTSJ@THLPIGLQTJHSIRQMSTPTISLNRCRIQNP IQFSLQMSTROTIQJPTKRTJPIRSN;(: M=PCCSLNQETOSMTIQJPTKRTHLSJSONQDRPOSTKQTHQLNS KRT GOT FROPLSOOSET KPAL;T SJJSLST JPNNPJILRNNQ KQRTBSORNPLRETHLSARQTQGNPLRDDQDRPOSTKSMTBRGKRIS NGNSMQLSETKQTQMMSBQLSTROTIPHRQTIPOCPLFS: ROTIQJPTKRTKRI8RQLQDRPOSTHLSJSONQNQTIPOBRGO? NQFSONSTKQTHR TJPBBSNNRETKSASTSJJSLSTROKRIQNP IPMGRTI8STQ>>RQTM=SJIMGJRAQTCQIPMN;TKRTCPLFG?
MQLSTSASONGQMRTPCCSLNSTROTQGFSONP: OPOTJQL;THPJJR>RMSTNLQJCSLRLSTM=RFFP>RMSTQTJPB? BSNNPTKRASLJPTKQT5GSMMPTI8STJPNNPJILRASTM=PC? CSLNQ: M=PCCSLNQT)TRLLSAPIQ>RMSETJQMAPTI8S T4@TRMTBRGKRIS PLKRORTM=ROIQONP:T3@TJRQOPTKSIPLJRTISONPASONR BRPLORT KQMMQT JGQT HLSJSONQDRPOST ST MQT JNSJJQ OPOTJRQTJNQNQTQIIPMNQ: M<PCCSLNQTOPOT)TSCCRIQIS T4(TJSTHSLARSOSTPMNLSTRM NSLFROSTJNQ>RMRNP:T3(TJST)TROCSLRPLSTQMTHLSDDP KSNSLFROQNPTQTOPLFQTKSMM<QLNRIPMPT7&%TSTHR JPHLQTLRIPLKQNP:TI(TJSTM<PCCSLSONSTOPOTHLSJNQ IQGDRPOSETQTFSDDPTKRTQJJSBOPTIRLIPMQLSTOPO NLQJCSLR>RMSTRONSJNQNPTQT PJNST9NQMRQOSTJHQ ETRO FRJGLQTOPOTROCSLRPLSTQMTKSIRFPTKSMTHLSDDPTKQ MGRTHLPHPJNP: QMM=PCCSLNQET KQT KSHPJRNQLJRT ROT >GJNQT I8RGJQE JSODQTJSBORTKRTLRIPOPJIRFSONPETKSASTSJJSLS QMMSBQNPTM=QJJSBOPTIRLIPMQLSTHSLTMQTIQGDRPOSE IPFSTROOQODRTROKRIQNP:TQMM<SJNSLOPTKSMMQT>GJNQ AQOOPTQOOPNQNRETQTIGLQTKSMTIQOISMMRSLSTLRIS? ASONSETRMTOPFSETHLSARQTRKSONRCRIQDRPOSETKRTI8R FQNSLRQMFSONSTHLPAASKSTQMTKSHPJRNPETRMTOPFS KSMT BRGKRIST KSMM<SJSIGDRPOST ST MQT KQNQT KSM? M<GKRSODQTCRJJQNQTHSLTM<SJQFSTKSMMSTPCCSLNS: MST>GJNSTJQLQOOPTQHSLNSTQMM<GKRSODQTCRJJQNQ HSLTM<SJQFSTKSMMSTPCCSLNSETQMMQTHLSJSODQTKSBMR PCCSLSONRETPASTIPFHQLJR:TOSMTIQJPTKRTFQOIQNQ IPFHQLRDRPOSTKSMM=PCCSLSONSTPTKSBMRTPCCSLSONR M=QBBRGKRIQDRPOST JQL;T IPFGO5GST KRJHPJNQE CQNNQTJQMAQTM=QHHMRIQDRPOSTKSMMSTHLSARJRPORTKR IGRTQMM=QLN@T7*3ETIPFFRT3TST/ETI@H@I@:TROTIQJPTKR HR TPCCSLNSTAQMRKSETJRTHLPISKSL;TQTBQLQTJGMM=PC? CSLNQTHR TQMNQTJSIPOKPTRMTJRJNSFQTKSMMSTJI8SKS PT >GJNST JSBLSNSET CQNNQT JQMAQT M=QHHMRIQDRPOS KSMM=QLN@T7*/ETIPFFQT3ETI@H@I@:TTTTT ROT QMNSLOQNRAQT QMMST FPKQMRN;T KRT IGRT JPHLQET MQ HLSJSONQDRPOSTKSMMSTPCCSLNSTKRTQI5GRJNPTHG
QAASORLST QOI8ST FSKRQONST M=QIILSKRNPET Q FSDDPTKRT>PORCRIPTPTKSHPJRNPTJGTIPONPTHPJNQMS PT>QOIQLRPTRONSJNQNPTQMMQTHLPISKGLQTSJSIGNRAQ SKT QIISJPT PT KQT QIISOKSLJRET OSMT JSIPOKP IQJPETHLSJJPTRMT !PONSTKSRT QJI8RTKRT'RSOQ '@H@1@ T T CRMRQMST KRT -QFSDRQT ,SLFSET KRT GOQ JPFFQTHQLRTQKTGOTKSIRFPTKSMTHLSDDPTI8STJR RONSOKSTPCCLRLSTSTFSKRQONSTMQTIPFGORIQDRPOSE QTFSDDPTNSMSCQ TPTHPJNQTSMSNNLPORIQETOSMTLR? JHSNNPTKSMMQTOPLFQNRAQETQOI8STLSBPMQFSONQLSE IPOISLOSONST MQT JPNNPJILRDRPOSET MQT NLQJFRJ? JRPOSTSTMQTLRISDRPOSTKSRTKPIGFSONRTROCPLFQNRIR STNSMSNLQJFSJJRETKRTGOQTKRI8RQLQDRPOSTIPONS? OSONSTMSTROKRIQDRPORTKRTIGRTQMMPTJNSJJPTQLN@T7*4 I@H@I@: KSNNPTQIILSKRNPTKSASTQASLSTMGPBPTOPOTPMNLS IRO5GSTBRPLORTHLRFQTKSMMQTJIQKSODQTKSMTNSL? FROSTSONLPTRMT5GQMSTHPJJPOPTSJJSLSTHLPHPJNS MSTPCCSLNSTK<QI5GRJNP:TCROTK=PLQTJRTHLSASKSTI8SE 5GQOKPTM<PCCSLNQT)THLSJSONQNQTIPOTMSTFPKQMRN; QMNSLOQNRASETRMTNSLFROSTHSLTRMTASLJQFSONPTKSM HLSDDPTSTKRTPBORTQMNLQTJPFFQT)TKRTOPAQONQ BRPLOR: ROTPBORTIQJPETMSTJHSJSTKSMTNLQJCSLRFSONPTIS? KPOPTQTIQLRIPTKSMM=QBBRGKRIQNQLRPETIGRTLSJNQOP LRJSLAQNSTMSTQNNRARN;TSKTRTIPJNRTHSLTMQTLSBRJNLQ? DRPOSTSTNLQJILRDRPOSTKSMTKSILSNPTOPOI8 THSL MQTIQOISMMQDRPOSTKSMMSTCPLFQMRN;THLSBRGKRDRS? APMRTBLQAQONRTJGBMRTRFFP>RMRTQI5GRJNQNR: )THPJJR>RMSETHSLTRTHQLNSIRHQONRTQMMSTQJNSETPNNS? OSLSTFGNGRTQTNQJJRTSTIPOKRDRPORTSIPOPFRI8S HLSJNQ>RMRNRTKQTPBORTJROBPMQT>QOIQTQKSLSONS HLPNPIPMMPT 1 9 THSLTMQTIPOISJJRPOSTKRTFGNGR QBMRTQBBRGKRIQNQLR:TM=SMSOIPTKSMMST>QOI8STQKS? LSONRTQMM=RORDRQNRAQTHSLTRMT,LR>GOQMSTKRT-QFSDRQ ,SLFST)TLSHSLR>RMSTHLSJJPTMQT0QOISMMSLRQ:T 5GQONPTQMM=SASONGQMSTJGIISJJRAQTASOKRNQTQBMR ROIQONR SJJQTKSASTQASLTMGPBPTQMTHLSDDPTJPHLQTROKR? IQNPTKRTSGLPT *@442E&7THSLTRMTMPNNPTO@T4TSTQM HLSDDPTKRTSGLPT 3/@44/E"2THSLTRMTMPNNPTO@T3: MSTPCCSLNSTROTQGFSONPETQTHSOQTKRTROQFFRJJR>R? MRN;ET OPOT KSAPOPT SJJSLST ROCSLRPLRT QMT 7 T KSM HLSDDPT>QJS: PBOGOPET QRT JSOJRT KSMM=QLN@T 7*"ET IPFFQT 4E I@H@I@ETNLQOOSTRMTKS>RNPLSET)TQFFSJJPTQTCPLFG? MQLST PCCSLNST QMM=ROIQONPT HSLJPOQMFSONSET Q FSDDPTKRTFQOKQNQLRPTFGORNPTKRTHLPIGLQTJHS? IRQMSTPTKRTHLPIGLQNPLSTMSBQMSETQOI8STQTOPLFQ KSMM=QLN@T7*"ETIPFFQT/ETI@H@I@T$RMTHLPIGLQNPLS MSBQMSTKPAL;ETROTPBORTIQJPETSJJSLSTFGORNPTKR FQOKQNPTJHSIRQMSTLRJGMNQONSTKQTQNNPTHG>>MRIP PTJILRNNGLQTHLRAQNQTQGNSONRIQNQETOPOTSJJSOKP JGCCRIRSONSTM=PLKROQLRPTFQOKQNPTQMMSTMRNR:T OSMM=RHPNSJRTKRTIGRTQMTIRNQNPTQLN@T7*"ETIPFFQT/E RMT FQOKQNPT JHSIRQMST LRJGMNQONST KQT QNNPT HG>? >MRIPTPTJILRNNGLQTHLRAQNQTQGNSONRIQNQTKPAL;TSJ? JSLST KSHPJRNQNPT IPONSJNGQMFSONST QMMQ KRI8RQLQDRPOSTKSMTOPFROQNRAPTKSMMQTHSLJPOQE KQTSCCSNNGQLJRTOSMTNSLFROSTKRTIGRTQMM=QLN@T7%/E IPFFQT4ETI@H@I@( PBORTIPOIPLLSONSETHSLTSJJSLSTQFFSJJPTQMM=RO? IQONPETKSASTHLSJSONQLSTRJNQODQTKRTHQLNSIRHQ? DRPOSETROTLSBPMQTIPOTRMT>PMMPETLSIQONSETQTHSOQ KRT ROSCCRIQIRQET M<ROKRIQDRPOST KSMT OGFSLPT KR L@B@S@T KSMMQT HLPISKGLQET RMT >SOST PT RMT MPNNPT IGR M=RJNQODQTJNSJJQT)TLRCSLRNQETRMTHLSDDPTHLPHPJNPE MSTHLPHLRSTBSOSLQMRN;T$OPFSETIPBOPFSETMGPBP ST KQNQT KRT OQJIRNQET IPKRIST CRJIQMSE
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
=< 7-Q 7 !7.0Q!0--;0(0. 7,30 -PKKOQ@JOQNKKOQHPJQEIMFPHOCPLKMQPGPFDKO>M8 EIPGMQNKKMQHPJJ;OGKNLANQHOQ>PLHOKNQ?MICDJNKN HNJQFIPHOKMIPQEIMFPHPLKP8 IOJP>NKMQ F5PQ FDGKMHPQ HPJQ :PLPQ EO@LMINKMQ *B MEPQJP@OGBQJNQ.DINKPJNQ?NJJOCPLKNIPO8 IOKPLDKMQ HOQ EMKPIQ FMLHO>OHPIPQ PQ EIPLHPIPQ N ?MLHNCPLKMQHPJQEIMGOP@DMQHPJJNQEIMFPHDINQJP FMLFJDGOMLOQHPJJNQIPJNAOMLPQHPJJ;PGEPIKMBQOLQMI< HOLPQGONQNJJ;OLHO>OHDNAOMLPQHPJQFMCEPLHOMQOC< CM:OJONIPQF5PQHPJJNQGKOCNQHPJQIPJNKO>MQ>NJMIP HOQCPIFNKM8
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
PHONKN@ = -NCPAONQ#PICPBQ+1Q@PLLNOMQ+/2+= 7JQ.NLFPJJOPIP 7JQ ODHOFPQHPJJ;0GPFDAOMLP
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
HEPROKK<OJL>R3)'CRHNDDPR'RQR(CRH>F>H>8RPMRHOINRGP FP RN??QJLQR@OKPGQCRIPRFJNHQGQJ7RORAOJORIEKK<N?= ?QJLORFP ROKLORIQHNMGNRPKRIPILQDORGQKKQRIH6QGQ NR ;EILQR IQAJQLQCR ?OLLOR IOK@OR K<OFFKPHOBPNMQ GQKK<OJL>R3)(CRHNDDOR'CRH>F>H>8RRRRR PMR OKLQJMOLP@OR OKKQR DNGOKPL7R GPR HEPR INFJOCR KO FJQIQMLOBPNMQRGQKKQRN??QJLQRGPROH5EPILNRFE
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
LPSLRBQMMQEPCQONRSJRLLOSIMRIIOS PJSRI?SFKOHGKP IFRHQPLRSOSHRKMQ@QHPMOSHPERKPLR ?S;NSHPIOSJQSJQ> H4QPKPCQONRSJQSFPKMRHQFPCQONRSFKRIRNMPMPSJP FQ SIOBBRMMQDSJRARSRIIRKRSQNJQHPMOSHOLGQSH4R P<<QPSL=RIHLGIQAPS@PHOLM:SJQS@OKEGLPKRSRARN> MGPLQSO@@RKMRSQNSPGERNMO? 5ONSL=QIMPNCPSJQSFPKMRHQFPCQONRDSJPSFKRIRN> MPKIQSQNS<GIMPSH4QGIPDSIRNCPSIRBNQSJQSKQHONO> IHQERNMODSJRARSRIIRKRSJRFOIQMPMOSPIIRBNO HQKHOLPKRSQNMRIMPMOSPLLRS OIMRS;MPLQPNRSI?F?P? D MKPEQMRSHGQSR@@RMMGPKRSQLSARKIPERNMOSJRLLPSHPG> CQONRS RJSQNSHONMOSFKRCCOSJQSPBBQGJQHPCQONR D QNS KPBQONRS JQS GNS JRHQEOS JRLS FKRCCOS <PIR J=PIMP? 8LL=RIMRKNOSJRLLPS<GIMPSAPNNOSPN> NOMPMQDS PS HGKPS JRLS 5PNHRLLQRKRS KQHRARNMRDS QL NOERDSFKRAQPSQJRNMQ@QHPCQONRDSHQSH4QSEPMRKQPL> ERNMRSFKOAARJRSPLSJRFOIQMODSQLSNOERSJRLS$QG> JQHRS JRLL=RIRHGCQONRS RS LPS JPMPS JRLL=GJQRNCP @QIIPMPS FRKS LPS ARNJQMP9S LRS <GIMRS IPKPNNO PFRKMRSPLL=GJQRNCPSIMP<QLQMPSFRKSL=QNHPNMOSPLLP FKRIRNCPSJRBLQSO@@RKRNMQDSOARSHOEFPKIQ? -RS $ $# PSFRNPSJQSQNPEEQIIQ> <QLQM:DS NONS JRAONOS RIIRKRS QN@RKQOKQS PJS =8<? ./033433 ;LSFPBPERNMOSJRLSFKRCCOSJQSPBBQGJQHPCQONRD JRJOMMPS LPS HPGCQONRS BQ:S FKRIMPMPDS JRARS RI> IRKRSR@@RMMGPMOSJPLL=PBBQGJQHPMPKQOSNRLLPS5PN> HRLLRKQPSJRLLRSRIRHGCQONQS;EEO<QLQPKQSRNMKOSQL IRIIPNMRIQEOSBQOKNOSJPLLPSJPMPSJQSPBBQGJQHP> CQONRDSERJQPNMRSPIIRBNOSHQKHOLPKRSQNMRIMPMO PLLRS OIMRS;MPLQPNRSI?F?P? *OLMPNMOS PLL=RIQMOS JRLL=PJREFQERNMOS FKRHR> JRNMRDSJRLLPSFKOJGCQONRSJQSPBBQOKNPMQSHRKMQ@Q> HPMQSHPMPIMPLQSRSJQSPBBQOKNPMQSHRKMQ@QHPMQSKRLPMQAQ PLLRSQIHKQCQONQSRSMKPIHKQCQONQSR@@RMMGPMRSIGLS<RNR NONH4 SJRLSFPBPERNMOSJRLLRSIFRIRSJQSMKPI@R> KQERNMOSJPSFPKMRSJRLL=PBBQGJQHPMPKQODSHGQSKR> IMPNOS KQIRKAPMRS LRS PMMQAQM:S RS QS HOIMQS FRKS LP HPNHRLLPCQONRSJRLLRS@OKEPLQM:DSIPK:SRERIIOSQL JRHKRMOSJQSMKPI@RKQERNMODSPQSIRNIQSJRLL=PKM?S0'( H?F?H?? -PSFKRIRNMRSOKJQNPNCPSJQSARNJQMPSJRARSRI> IRKRSFG<<LQHPMPSNRLSMRKEQNRSJQS6GPKPNMPHQN> 6GRS BQOKNQS FKQEPS JRLLPS JPMPS @QIIPMPS FRKS LP FKRIRNMPCQONRS JRLLRS O@@RKMRDS OLMKRS H4RS NRLLR @OKERSJQSLRBBRDSIGS KOBRMMOS8IMRS RJQPMPB ? -PERCQPS,RKERDS/0SBRNNPQOS/.1/? ;LS5PNHRLLQRKR ;LS$QGJQHRSJRLL=7IRHGCQONR ;5;2S7*75 ;23;S; 2 ;-;8 ; 8%%;*2S);S%73);,8S); 73;S; 2 ;-;S ;$32 8,;S 7 S8 ,S0(!S52 8S+S5 5 *;S 73)7S32,2 54RSQLS$QGJQHRSJRLL=7IRHGCQONRDSNRLLPS7<?6=' 58<@A=2=68;>&@A>11?(>9>@<=A: / # .%%0A 4 HONS OKJQNPNCPS RERIIPS PLL=GJQRNCPS JRL /0?.1?/.1/S 4PS JQIFOIMOS LPS ARNJQMPS HONS QN> HPNMOSJQSFQ SLOMMQSNRLLOSIMPMOSJQS@PMMOSRSJQSJQKQMMO QNSHGQSIQSMKOAPNOSFRKSQLS.(?.(?/.1/9
"!$ !""! 7?<+>?:=A5=9A$@((<>6@;? 2>;?A >:A @:A @:-?A "8>:?4A 6?2;>;8>;@ 5@99 8:>;@A>11?(>9>@<=A@9A7>@:?A;=<<@A6?1' 7?2;@A 5@A 8:A 9?6@9=A @5>(>;?A @5A =2=<6>+>? 6?11=<6>@9=A7=<A8:@A287=<$>6>=A6?179=2' 2>&@A5>A1"/A0!433)A<>7?<;@;?A@9A A5=9 7<=5=;;?A 6?18:=A 6=:28@<>?A @9A $?-9>?A 5> 1@77@A!4A7@<;>6=99@A.334A28(@9;=<:?A.) $ # $ # # =8<?A /* 4#0) "!$ !""! 7?<+>?:=A5=9A$@((<>6@;? 2>;?A >:A @:A @:-?A "8>:?4A 6?2;>;8>;@ 5@99 @77@<;@1=:;?A6 =A2>A2&>9877@A28A58= 9>&=99> A @9A 7>@:?A ;=<<@A 2>A ;<?&@:?A 8:A 2?-' ->?<:?4A8:A(@-:?4A8:@A6@1=<@4A9@A686>:@4 8:A <>7?2;>-9>?A =A 58=A (@96?:>)A @9A 7<>1? 7>@:?A2>A;<?&@:?A58=A6@1=<=4A8:A(@-:?A>: 6?<2?A5>A6?2;<8+>?:=A=5A8:@A;=<<@++@A7=< 8:@A287=<$>6>=A6?179=22>&@A5>A1"/A.!,433 6><6@4A?9;<=A@A1"/A! 433A5>A(@96?:>)A<>7?<' ;@;?A >:A A 5=9A 7<=5=;;?A 6?18:=A 6=:' 28@<>?A@9A$?-9>?A5>A1@77@A!4A7@<;>6=99@A.334 28(@9;=<:?A0)A $ # $ # #$=8<?A0,/#. 40 "!$ !""! 7>66?9?A@77=++@1=:;?A5> ;=<<=:?A>:A@-<?A5>A @:A @:-?A "8>:?4A<>' 7?<;@;?A@9A A5=9A7<=5=;;?A6?18:=A6=:' 28@<>?A@99@A7@<;>;@A.*,*4A$?-9>?A5>A1@77@A!4 7@<;>6=99@A,,,)A $ # $ # #$=8<?A./*004.0) "" !$ !""! @77=++@1=:;?A 5>A ;=<' <=:?A>:A @:A @:-?A "8>:?4A=2;=2?A @/ */03/,34A@;;8@91=:;=A6?9;>&@;?A@5A89>&=;?) 289A;=<<=:?A2>A;<?&@A8:A$@((<>6@;?A<8<@9= ?<1@>A6?179=;@1=:;=A5><8;?)A>9A;8;;?A A<>' 7?<;@;?A>:A A5=9A7<=5=;;?A6?18:=A6=:' 28@<>?A@99@A7@<;>;@A.*,*A$?-9>?A5>A1@77@A#4 7@<;>6=99=A,A 5>A@<=A,./,3 4A%A 5>A @/A0/*#/,3 =A.3A 5>A0/03 ) $ # $ # #$=8<?A 0/ .*4%0) !"" !$ !""! @77=++@1=:;?A5>A;=<<=:? >:A @:A @:-?A "8>:?4A=2;=2?A@<=A#0/ 3 =A6?9;>&@;?A@A"8=<6=;?A<>7?<;@;?A>:A A5=9 7<=5=;;?A 6?18:=A 6=:28@<>?A @99@A 7@<;>;@ .*,*A$?-9>?A5>A1@77@A#4A7@<;>6=99=A..A 5>
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
FQ SPLMPSPSNOKEPSJRLL=PKM?S0#.SH?F?H?9S QNSOBNQSHPIODSLRSIFRIRSJRLSMKPI@RKQERNMOSHR> JONOSPSHPKQHOSJRLL=PBBQGJQHPMPKQODSHGQSKRIMPNO KQIRKAPMRSLRSPMMQAQM:SRJSQSHOIMQSFRKSLPSKRBQIMKP> CQONRSRSMKPIHKQCQONRSJRLSJRHKRMOSNONH4 SFRK LPSHPNHRLLPCQONRSJRLLRS@OKEPLQM:SFKRBQGJQCQR> AOLQSBKPAPNMQSIGBLQSQEEO<QLQSPH6GQIMPMQ9 &SFOIIQ<QLRDSFRKSQSFPKMRHQFPNMQSPLLRSPIMRDSOMMR> NRKRSEGMGQSPSMPIIQSRSHONJQCQONQSRHONOEQH4R FKRIMP<QLQMQSJPSOBNQSIQNBOLPS<PNHPSPJRKRNMR FKOMOHOLLOS 8 ; SFRKSLPSHONHRIIQONRSJQSEGMGQ PBLQSPBBQGJQHPMPKQ9SL=RLRNHOSJRLLRS<PNH4RSPJR> KRNMQSPLL=QNQCQPMQAPSFRKSQLS,KQ<GNPLRSJQS-PERCQP ,RKERS&SKRFRKQ<QLRSFKRIIOSLPS5PNHRLLRKQP9S &S@QIIPMODSFRKSLPSFKRIRNMPCQONRSFKRIIOSLPS5PN> HRLLRKQPS JRLLRS 7IRHGCQONQS ;EEO<QLQPKQS JRLLR QIMPNCRSJQSFPKMRHQFPCQONRSPLLPSARNJQMPSPQSFG<> <LQHQSQNHPNMQSJRLSHOEFRNJQOSQEEO<QLQPKRSIOFKP QNJQHPMOS RS ERBLQOS JRIHKQMMOS NRLLPS KRLPCQONR JRLL=RIFRKMOSQNSPMMQDSPLLPS6GPLRSIQS@PSRIFKRIIO KQH4QPEODS 6GPLRS FPKMRS QNMRBKPNMRS RS IOIMPN> CQPLRSJRLLPSFKRIRNMRSOKJQNPNCPDSMRKEQNRS@QNO PLLRSOKRS1+?..SJRLS.0?.(?/.1/DSHONSLRSEOJP> LQM:SRSFRKSQLSFKRCCOSEQNQEOSJQSHGQSIOFKP9 &S@QIIPMPDSFRKSQLSBQOKNOS3#/3#/03.04A?<=A3%/*3 RSIRBB?DSLPSARNJQMPSPQSFG<<LQHQSQNHPNMQSJRLSHOE> FRNJQOSQEEO<QLQPKRSIOFKPSQNJQHPMODSHONSLRSEO> JPLQM:SRSFRKSQLSFKRCCOS<PIRSJQSHGQSQNNPNCQ9 -8S%73);,8S8%%;737S8--7S*7$ 73,; 523); ;23;DS*;8S 8-2 8S%;S*;S 855;8S- 2$2S*73 8S;3583,2DS *;8S 8-2 8S%;S*;S 855;8S - 2$2S523S;3583,2 BLQS QEEO<QLQS ARNBONOS FOIMQS QNS ARNJQMPS NRLLO IMPMOSJQS@PMMOSRSJQSJQKQMMOSQNSHGQSIQSMKOAPNODSHOI HOERS QJRNMQ@QHPMQDS JRIHKQMMQS RS APLGMPMQS JPL> L=RIFRKMOSNRLLPSKRLPCQONRDSHONSOBNQSRARNMGPLR IRKAQM SPMMQAPSRSFPIIQAPSQNRKRNMRSRS6GOMRSHON> JOEQNQPLQSKRLPMQAR9 LPSARNJQMPS&SPSHOKFOSRSNONSPSEQIGKP9SRARNMGPLQ JQ@@RKRNCRSJQSEQIGKPSNONSFOMKPNNOSJPKSLGOBO PJSPLHGNSKQIPKHQERNMODSQNJRNNQM:SOSKQJGCQONR JRLSFKRCCO9SLPSARNJQMPS@OKCPMPSNONS&SIOBBRMMP PLLRSNOKERSHONHRKNRNMQSLPSBPKPNCQPSFRKSAQCQSO EPNHPNCPSJQS6GPLQM:DSN SFOMK:SRIIRKRSKRAO> HPMPSFRKSPLHGNSEOMQAO?S5ONIRBGRNMRERNMR L=RIQIMRNCPS JQS RARNMGPLQS AQCQDS EPNHPNCPS JQ 6GPLQM:SOSJQ@@OKEQM:SJRLLPSHOIPSARNJGMPDSONRKQ JQS6GPLIQPIQSBRNRKRS>SQAQSHOEFKRIQDSPJSRIRE> FQODS6GRLLQSGK<PNQIMQHQSOAARKOSJRKQAPNMQSJPLLP RARNMGPLRSNRHRIIQM:SJQSPJRBGPERNMOSJQSQE> FQPNMQSPLLRSLRBBQSAQBRNMQDSIFRIRSHONJOEQNQPLQ JRLL=PNNOS QNS HOKIOS RS JRLL=PNNOS FKRHRJRNMR NONSFPBPMRSJPLSJR<QMOKRS>SFRKS6GPLIQPIQSEO> MQAOSNONSHONIQJRKPMQDSPNH4RSIRSOHHGLMQSRSHO> EGN6GRS NONS RAQJRNCQPMQS QNS FRKQCQPDS NON FOMKPNNOSJPKSLGOBOSPJSPLHGNSKQIPKHQERNMODSQN> JRNNQM:SOSKQJGCQONRSJRLSFKRCCODSRIIRNJOIQSJQ HQ SMRNGMOSHONMOSNRLLPSAPLGMPCQONRSJRQS<RNQ9 L=PBBQGJQHPMPKQOSJOAK:SARKIPKRSLPSJQ@@RKRNCP JRLSFKRCCOS JRMKPMMPSJPLSFKRCCOSJQSPBBQGJQHP> CQONRSLPSHPGCQONRSJQSHGQSIOFKP SRNMKOSGNSMRK> EQNRSEPIIQEOSJQSIRIIPNMPSBQOKNQSJPLLPSJPMP JQSPBBQGJQHPCQONRSERJQPNMRSPIIRBNOSHQKHO> LPKRSNONSMKPI@RKQ<QLRSQNMRIMPMOSPS OIMRS;MPLQPNR I?F?P? S 6GPLOKPSQLSFKOHRJQERNMOSIQS@ONJQSIG HKRJQMOS @ONJQPKQOS RS L=PBBQGJQHPMPKQOS NONS QN> MRNJPSPAAPLRKIQSJRLLPS@PHOLM:SJQSIG<RNMKPKRSNRL HONMKPMMODS PLL=PIIRBNOS HQKHOLPKRS IPK:S IOIMQ> MGQMODSR SPKM?S"1DSHOEEPS"DS)?-BI?S1SIRMMRE> <KRS 1!!+DS N?S +'0DS QLS FPBPERNMOS JQKRMMOS PLLP <PNHPSHKRJQMKQHRDSNRQSLQEQMQSJRLSHKRJQMOSPCQONPMO FRKSHPFQMPLRDSQNMRKRIIQSRSIFRIRSHONSHOLLOHP> CQONRSFKQAQLRBQPMPDSRNMKOSLOSIMRIIOSMRKEQNRSR JRMKPMMOSGNSPHHPNMONPERNMOSFRKSIFRIRSNRLLP EQIGKPSH4RSIPK:SQNJQHPMPSJPLSB?R? 9SQNSEPN> HPNCPDS IQS FKOAARJRK:S PS JQH4QPKPKRS LPS JRHP> JRNCPSJPLL=PBBQGJQHPCQONRDSPSNOKEPSJRLL=PKM? 0'#SH?F?H?9 IOLMPNMOS PLL=RIQMOS JRBLQS PJREFQERNMQS FKRHR> JRNMQDSJRLLPSFKOJGCQONRSJQSPBBQOKNPMQSHRKMQ@QHPMQ HPMPIMPLQSRSJQSPBBQOKNPMQSHRKMQ@QHPMQSKRLPMQAQSPLLR QIHKQCQONQS RS MKPIHKQCQONQS R@@RMMGPMRS IGLS <RNR NONH4 SJRLSFPBPERNMOSJRLLRSIFRIRSJQSMKPI@R> KQERNMODS JPS R@@RMMGPKIQS HONMRIMGPLERNMRS P 6GRLLOSJRLLPSJQ@@RKRNCPSJRLSFKRCCOSJQSPBBQGJQ> HPCQONRDS NRLLPS EQIGKPS JRLS /. S JQS 6GRIM=GL> MQEODSIPK:SRERIIOSQLSJRHKRMOSJQSMKPI@RKQERNMOD PQSIRNIQSJRLL=PKM?S0'(SH?F?H?9 -PERCQPS,RKERDSL S1"?.+?/.1/ 9A 8:+>?:@<>?A >85>+>@<>? #$ #
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
PSERCCOSIQSGKOHFKPMOKRSJGRHQPLRDSJRNCPSIO> HFERNMPMOSRSBQFJMQ@QHPMOSEOMQAODSHOEGOKMRK5 L<QNHPERKPERNMOSIQS1 1-SIRLLPSHPFCQONRDSH3RD IQS HONMKODS JPK5S QEERIQPMPERNMRS KRJMQMFQMP IOGOSLPSH3QFJFKPSIRLL<QNHPNMODSOARSL<O@@RKRNMRD KRBOLPKERNMRSGKRJRNMRDSNONSIQARNBPSPBBQF> IQHPMPKQO6SNRLSHPJOSIQSFNPSJOLPSQJMPNCPSIQSGPK> MRHQGPCQONRDSOHHOKKRK5SHOEFN2FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S/(1DSHOEEPS*DSGRK HONJRBFQKRSL<PBBQFIQHPCQONRSGKOAAQJOKQP6 PSNOKEPSIRLL<PKM?S/( SH?G?H?DSQN@PMMQDSPAARNFMO L<QNHPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSO@@RKMR IQSPH2FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSIQSIQRHQ BQOKNQSIPLLPSBPKPDSEPSRJJRSNONSJONOSR@@QHPHQ JRSQLSGKRCCOSO@@RKMOSNONSJFGRKPSIQS1 /S2FRLLO KPBBQFNMOSNRLL<QNHPNMO6SL<PBBQFIQHPCQONRDSGRK> MPNMODS IQARKK5S IR@QNQMQAPS OARDS IRHOKJQS IQRHQ BQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSO@@RKMRSQN PFERNMO6 MPLQSO@@RKMRSGOMKPNNOSRJJRKRSIRGOJQMPMRSGKRJJO LPS4PNHRLLRKQPDSNRLLRS@OKERSIQSHFQSPLL<PKM?S/"1 H?G?H?DSGKRJMPNIOSHPFCQONRSGRKSFNPSJOEEP GPKQSPLSIOGGQOSIRLLPSHPFCQONRSARKJPMPSGRKSLP GPKMRHQGPCQONRSPLL<QNHPNMO?S=NSHPJOSIQSGKRJRN> MPCQONRSIQSMPLQSO@@RKMRDSARKK5SQNIRMMPSFNPSBPKP JRHONIOSLRSGKRAQJQONQSIQSHFQSPLL<PKM?S/( SH?G?H?? ,RSNRJJFNOSIRBLQSO@@RKRNMQSQNSPFERNMOSGPKMR> HQGPSPLLPSBPKPSQNIRMMPSPSNOKEPSIRLL<PKM?S/( D HOEEPS'DSH?G?H?DSL<PBBQFIQHPCQONRSIQARNMPSIR> @QNQMQAPSRSARKK5SGKONFNHQPMPSPSHPKQHOSIRBLQSO@> @RKRNMQS JPLAOSH3RSKQHOKKPSFNSIOHFERNMPMOSR BQFJMQ@QHPMOSEOMQAO SLPSGRKIQMPSIRLLPSHPFCQONRD QLSHFQSQEGOKMOS&SMKPMMRNFMOSHOERSKQNARNQRNMRSP MFMMQSBLQSR@@RMMQSIPLL<RJRHFCQONR6S QNSOBNQSHPJODSLRSJGRJRSIRLSMKPJ@RKQERNMOSHR> IONOSPSHPKQHOSIRLL<PBBQFIQHPMPKQODSHFQSKRJMPNO KQJRKAPMRSLRSPMMQAQM5SRISQSHOJMQSGRKSLPSKRBQJMKP> CQONRSRSMKPJHKQCQONRSIRLSIRHKRMOSNONH3 SGRK LPSHPNHRLLPCQONRSIRLLRS@OKEPLQM5SGKRBQFIQCQR> AOLQSBKPAPNMQSJFBLQSQEEO;QLQSPH2FQJMPMQ6 &SGOJJQ;QLRDSGRKSQSGPKMRHQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSHONIQCQONQSRHONOEQH3R GKRJMP;QLQMQSIPSOBNQSJQNBOLPS;PNHPSPIRKRNMR GKOMOHOLLOS : = SGRKSLPSHONHRJJQONRSIQSEFMFQ PBLQSPBBQFIQHPMPKQ6SL<RLRNHOSIRLLRS;PNH3RSPIR> KRNMQSPLL<QNQCQPMQAPSGRKSQLS0KQ;FNPLRSIQS.PERCQP 0RKERS&SKRGRKQ;QLRSGKRJJOSLPS4PNHRLLRKQP6S &S@QJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS4PN> HRLLRKQPS IRLLRS 8JRHFCQONQS =EEO;QLQPKQS IRLLR QJMPNCRSIQSGPKMRHQGPCQONRSPLLPSARNIQMPSPQSGF;> ;LQHQSQNHPNMQSIRLSHOEGRNIQOSQEEO;QLQPKRSJOGKP QNIQHPMOS RS ERBLQOS IRJHKQMMOS NRLLPS KRLPCQONR IRLL<RJGRKMOSQNSPMMQDSPLLPS2FPLRSJQS@PSRJGKRJJO KQH3QPEODS 2FPLRS GPKMRS QNMRBKPNMRS RS JOJMPN> CQPLRSIRLLPSGKRJRNMRSOKIQNPNCPDSMRKEQNRS@QNO PLLRSOKRS1'?--SIRLS-/?- ?*-1*DSHONSLRSEOIP> LQM5SRSGRKSQLSGKRCCOSEQNQEOSIQSHFQSJOGKP6 &S@QJJPMPDSGRKSQLSBQOKNOS-"0-"0+-(+.?;9<??-&0*RSJRBB?DSLPSARNIQMPSPQSGF;;LQHQSQNHPNMQSIRLSHOE> GRNIQOSQEEO;QLQPKRSJOGKPSQNIQHPMODSHONSLRSEO> IPLQM5SRSGRKSQLSGKRCCOS;PJRSIQSHFQSQNNPNCQ6 .:S+89)=0:S:++=898S:..8S,8#%890= 479)= =79=DS,=:S %:.7$:S+=S,=S :44=:S.%7#7S,89 :S=94:907DS ,=:S %:.7$:S+=S,=S :44=:S .%7#7S479S=94:907 BLQS QEEO;QLQS ARNBONOS GOJMQS QNS ARNIQMPS NRLLO JMPMOSIQS@PMMOSRSIQSIQKQMMOSQNSHFQSJQSMKOAPNODSHOJ
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
>11>98>3<:8;?1<9?7=#=5< >/=8>,=;:<? =:? 7;96;? 4=? 7;6892,=;:<? >5 1=>:;? 6<7;:4;? 4<5? )>//9=7>8;? 6;19>? 4<' 679=88; ?19<6<:8>?2:>?621<9)=7=<?5;94>?4= 3 0?*-*.--?;589<?3 0?% .+-?4=?/>57;:=.?7;: 5>?6;5>?8>31;:>829>?<68<9:>.?7;:?=:!9<66; 4>55>? 67>5>? 7;32:<? <? 7;:? 26;? 4<55 >9<> 7=97;68>:8<?4=?1<98=:<:,>?4<5?)>//9=7>8;?=: 7;32:<?7;:?=?9<68>:8=?5;88=0? <?61<6<?4=?6>' :>8;9=>.?7;:89=/28=?<4?;:<9=?4=?29/>:=,,>' ,=;:<? >33;:8>:;? 19<623=/=53<:8<? >? 0 *+0 $"0%-- ?$0$$(.*(
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
LRSGKOGKQRSBRNRKPLQM5S NOERDSHOBNOERDSLFOBO RS IPMPS IQS NPJHQMPDS HOIQHRS @QJHPLRD KRJQIRNCP IOEQHQLQODSJMPMOSHQAQLRSRDSJRSHONQF> BPMODS KRBQERS GPMKQEONQPLRS @KPS QS HONQFBQ6S QN HPJOSIQSHOEFNQONRSLRBPLRSIRQS;RNQDSOHHOKKRK5 QNIQHPKRSPNH3RSLRSBRNRKPLQM5SIRLSHONQFBRSNON O@@RKRNMRDS PLS @QNRS IQS GOMRKS MKPJ@RKQKRS PIS RN> MKPE;QDSGKOS2FOMPDSQLS;RNRDSQNSHPJOSIQSPBBQFIQ> HPCQONR6S NRLL<QGOMRJQS IQS PH2FQJMOS PS MQMOLO GRKJONPLRSIPSGPKMRSIQSFNSHONQFBRSQNSKRBQER IQS HOEFNQONRS IRQS ;RNQDS OHHOKKRS GKOIFKKRD OLMKRSPLLPSIQH3QPKPCQONRSIQS2FRJM<FLMQEODSR SPKM? 1" DSHOEEPS1DSLRMM?S@DSHOI?SHQA?DS2FRLLPSIRLSHO> NQFBRS NONS PH2FQKRNMRS IQS HFQS PLS JRHONIO HOEEPSIRLLPSERIRJQEPSIQJGOJQCQONRSNOKEP> MQAP DSL<RJGKRJJPSIQH3QPKPCQONRSIQSPARKSGKRJO AQJQONRS IRLLPS GRKQCQPS IQS JMQEP6S L<QJMPNCPDS NRL HPJOSIQSGKRJRNMPCQONRSIPSGPKMRSIQSFNSEQNO> KRNNRDSIOAK5SRJJRKRSJOMMOJHKQMMPSIPQSBRNQMOKQD GKRAQPSPFMOKQCCPCQONRSIRLSBQFIQHRSMFMRLPKRDSIP IRGOJQMPKRSQNSHOGQPSHON@OKER6 QNSHPJOSIQSQJMPNCPSGKRJRNMPMPSHONBQFNMPERNMR IPSGQ SJOBBRMMQDSIRARSRJJRKRSQNIQHPMOSHOLFQ H3RS P;;QPS L<RJHLFJQAPS @PHOLM5S IQS @OKEFLPKR RARNMFPLQSO@@RKMRSQNSPFERNMO6 NONSJPK5SGOJJQ;QLRSMKPJ@RKQKRSL<QEEO;QLRSPSJOB> BRMMOS IQARKJOS IPS 2FRLLOS H3RS JOMMOJHKQAR L<QJMPNCP6 PLL<QJMPNCPSIQSGPKMRHQGPCQONRSIRARSRJJRKRSPL> LRBPMPSHOGQPSIQSAPLQIOSIOHFERNMOSIQSQIRNMQM5 IRLSHONHOKKRNMRSRDSJRSNRHRJJPKQODSAPLQIPSIO> HFERNMPCQONRSHOEGKOAPNMRSQSGOMRKQSOSLPSLRBQM> MQEPCQONRS IRLLOS JMRJJOS PIS RJ?S GKOHFKP JGRHQPLRSOSHRKMQ@QHPMOSHPERKPLRSQNSHPJOSIQSJO> HQRM5 6SHONSL<QJMPNCPSIQSGPKMRHQGPCQONRDSIPSGKR> JRNMPKJQS QNS ;FJMPS H3QFJPDS JRNCPS JRBNQS IQ KQHONOJHQERNMODSIRARSRJJRKRSIRGOJQMPMOSPJ> JRBNOSHQKHOLPKRSNONSMKPJ@RKQ;QLRDSQNMRJMPMOSPLLR OJMRS=MPLQPNRSJ?G?P? DSMKPEQMRSHFQSR@@RMMFPKRSQL ARKJPERNMOS IRLLPS HPFCQONRS RIS QNS HONMO GKRCCOSIQSPBBQFIQHPCQONR DSQNSKPBQONRSIQSFN IRHQEOSIRLSGKRCCOS;PJRSI<PJMP6 PLL RJMRKNOSIRLLPS;FJMPSAPNNOSPNNOMPMQDSPSHFKP IRLS HPNHRLLQRKRS KQHRARNMRDS QLS NOERDS GKRAQP QIRNMQ@QHPCQONRDS IQS H3QS EPMRKQPLERNMRS GKOA> ARIRSPLSIRGOJQMODSQLSNOERSIRLSBQFIQHRSIRLL RJR> HFCQONRSRSLPSIPMPSIRLL FIQRNCPS@QJJPMPSGRKSLP ARNIQMPSPLL<QNHPNMO6 LRS;FJMRSJPKPNNOSPGRKMRSPLL FIQRNCPSJMP;QLQMP GRKSL<QNHPNMOSPLLPSGKRJRNCPSIRBLQSQJMPNMQDSLPSHFQ HOEGPKQCQONRS&SNRHRJJPKQPSPQS@QNQSIRLL<PBBQF> IQHPCQONRDSH3RSJPK5SIQJGOJMPSJRHONIOSLRSGKR> JHKQCQONQSIRLL<PKM?S/(1SH?G?H?6SNRLSHPJOSIQSFNP JOLPSQJMPNCPSIQSGPKMRHQGPCQONRDSOHHOKKRK5SHO> EFN2FRSPGGOKMPKRSFNSKQPLCOSEQNQEODSR SPKM? /(1DSHOEEPS*DSGRKSHONJRBFQKRSL<PBBQFIQHP> CQONRSGKOAAQJOKQP6 PSNOKEPSIRLL<PKM?S/( SH?G?H?DSQN@PMMQDSPAARNFMO L<QNHPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSO@@RKMR IQSPH2FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSIQSIQRHQ BQOKNQSIPLLPSBPKPDSEPSRJJRSNONSJONOSR@@QHPHQ JRSQLSGKRCCOSO@@RKMOSNONSJFGRKPSIQS1 S2FRLLO KPBBQFNMOSNRLL<QNHPNMO6SL<PBBQFIQHPCQONRDSGRK> MPNMODS IQARKK5S IR@QNQMQAPS OARDS IRHOKJQS IQRHQ BQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSO@@RKMRSQN PFERNMO6 MPLQSO@@RKMRSJQS@PNNOSPSNOKEPSIRLL<PKM?S/"1SRD GKQEPSIQSGKOHRIRKRSPLLPSBPKPSIQSHFQSPLL<PKM?S/"'D QLS4PNHRLLQRKRSIPSGF;;LQHOSPAAQJOSIRLL<O@@RKMP GQ SPLMPSPSNOKEPSIRLL<PKM?S/"-SH?G?H?6S QNSOBNQSHPJODSLRSJGRJRSIRLSMKPJ@RKQERNMOSHR> IONOSPSHPKQHOSIRLL<PBBQFIQHPMPKQODSHFQSKRJMPNO KQJRKAPMRSLRSPMMQAQM5SRISQSHOJMQSGRKSLPSKRBQJMKP> CQONRSRSMKPJHKQCQONRSIRLSIRHKRMOSNONH3 SGRK LPSHPNHRLLPCQONRSIRLLRS@OKEPLQM5SGKRBQFIQCQR> AOLQSBKPAPNMQSJFBLQSQEEO;QLQSPH2FQJMPMQ6 &SGOJJQ;QLRDSGRKSQSGPKMRHQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSHONIQCQONQSRHONOEQH3R GKRJMP;QLQMQSIPSOBNQSJQNBOLPS;PNHPSPIRKRNMR GKOMOHOLLOS : = SGRKSLPSHONHRJJQONRSIQSEFMFQ PBLQSPBBQFIQHPMPKQ6SL<RLRNHOSIRLLRS;PNH3RSPIR> KRNMQSPLL<QNQCQPMQAPSGRKSQLS0KQ;FNPLRSIQS.PERCQP 0RKERS&SKRGRKQ;QLRSGKRJJOSLPS4PNHRLLRKQP6S &S@QJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS4PN> HRLLRKQPS IRLLRS 8JRHFCQONQS =EEO;QLQPKQS IRLLR QJMPNCRSIQSGPKMRHQGPCQONRSPLLPSARNIQMPSPQSGF;> ;LQHQSQNHPNMQSIRLSHOEGRNIQOSQEEO;QLQPKRSJOGKP QNIQHPMOS RS ERBLQOS IRJHKQMMOS NRLLPS KRLPCQONR IRLL<RJGRKMOSQNSPMMQDSPLLPS2FPLRSJQS@PSRJGKRJJO KQH3QPEODS 2FPLRS GPKMRS QNMRBKPNMRS RS JOJMPN> CQPLRSIRLLPSGKRJRNMRSOKIQNPNCPDSMRKEQNRS@QNO PLLRSOKRS1'?--SIRLS-/?- ?*-1*DSHONSLRSEOIP> LQM5SRSGRKSQLSGKRCCOSEQNQEOSIQSHFQSJOGKP6 &S@QJJPMPDSGRKSQLSBQOKNOS-"0-"0+-(+.?;9<?-&0*RSJRBB?DSLPSARNIQMPSPQSGF;;LQHQSQNHPNMQSIRLSHOE> GRNIQOSQEEO;QLQPKRSJOGKPSQNIQHPMODSHONSLRSEO> IPLQM5SRSGRKSQLSGKRCCOS;PJRSIQSHFQSQNNPNCQ6 .:S+89)=0:S:++=898S:..8S,8#%890= 479)= =79=DS,=:S %:.7$:S+=S,=S :44=:S.%7#7S,89 :S=94:907D S,=:S %:.7$:S+=S,=S :44=:S .%7#7S479S=94:907 BLQS QEEO;QLQS ARNBONOS GOJMQS QNS ARNIQMPS NRLLO JMPMOSIQS@PMMOSRSIQSIQKQMMOSQNSHFQSJQSMKOAPNODSHOJ
HOERS QIRNMQ@QHPMQDS IRJHKQMMQS RS APLFMPMQS IPL> L<RJGRKMOSNRLLPSKRLPCQONRDSHONSOBNQSRARNMFPLR JRKAQM SPMMQAPSRSGPJJQAPSQNRKRNMRSRS2FOMRSHON>
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
2--2+1303%# 2/.03%'3"'/ 20+23#1+3 20."2+13 .2 0&13%2&132+3 2 /.20( -1#0-2& 3 021-2+1(3 .2 1.&0&13 +/-3 3 "2 "/&&13 1 '+/30-3 1 -213))(3 ,--03) (3%' $( #0&,3 !(3 #-0%%/3 ) 3 0-1./3 "/-3 /+/
, $, ( !, (:R 34#3R6401 6R41-1R0 3R:.R 3R 6R(-6 :.:-1R0 3R.6R$34#:-6R 6$$:343RR6..3R(3 34-:R014#: :14: $34#:-6R(34 6R:4064-1
EOMLNROKKOR?QMHPLORIQMBORPMGOMLNCRHORQ@@QL= LEOJIPROKR HPR/'.13 $, ( ! FQJ PKRKNLLNREMPGN8R GPOIGEMR N@@QJQMLQCR OPR IQMIPR HQKK<OJL>R /&2C GNDDOR 2CR G>F>G>CR LJOMMQR PKR HQ;PLNJQCR +R OD= DQIINROR@NJDEKOJQRN@@QJLQRFQJRK<OG5EPILNRFQJ= INMOKDQMLQRNRORDQBBNRHPRFJNGEJOLNJQRKQAOKQC OMG7QRORMNJDORHQKK<OJL>R/&!CRGNDDOR)CRG>F>G> PKRFJNGEJOLNJQRKQAOKQRHN?J9CRPMRNAMPRGOINCRQI= IQJQRDEMPLNRHPRDOMHOLNRIFQGPOKQRJPIEKLOMLQRHO OLLNRFE;;KPGNRNRIGJPLLEJORFJP?OLOROELQMLPGOLOC MNMRQIIQMHNRIE@@PGPQMLQRK<NJHPMOJPNRDOMHOLN OKKQR KPLP8R MQKK<PFNLQIPR HPR GEPR OKR GPLOLNR OJL>R /&!C GNDDOR)CRPKRDOMHOLNRIFQGPOKQRJPIEKLOMLQRHO OLLNRFE;;KPGNRNRIGJPLLEJORFJP?OLOROELQMLPGOLO HN?J9R QIIQJQR HQFNIPLOLNR GNMLQILEOKDQMLQ OKKORHPG7POJOBPNMQRHQKRMNDPMOLP?NRHQKKORFQJ= INMOCRHORQ@@QLLEOJIPRMQKRLQJDPMQRHPRGEPROKK<OJL> /")CRGNDDOR2CRG>F>G>%CRFJQIQMLOMHNRFJQIIN KOR0OMGQKKQJPORHQKKQR3IQGEBPNMPR:DDN;PKPOJPC HPG7POJOBPNMQCRPMRJQANKORGNMRPKR;NKKNCRGNMLQ= MQMLQCRORFQMORHPRPMQ@@PGOGPOCRK'PMHPGOBPNMQRHQK MEDQJNRHPRJ>A>Q>RHQKKORFJNGQHEJOCRHQKR;QMQR Q HQKRKNLLN%RGEPRK<N@@QJLORIPRJP@QJPIGQCRHQKRFJQBBNC HQKRLQDFNCRHQKRDNHNRHQKRFOAODQMLNRQRHPRNAMP
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
1.%WLDJDLD< NSPQTRQSW TPP?VNUQSW MVFPUW TMVIJUIVRQUW JOVLVB MVRQUGWMVPPTWJOSMKHUSRVWMUWTFFUSORTQUWLVOQUCULTQU LTQTNQTPUWVWMUWTFFUSORTQUWLVOQUCULTQUWOVPTQUEUWTPPV UNLOUHUSRUW VW QOTNLOUHUSRUW VCCVQQKTQVW NKPW AVRV RSRL7 WMVPWJTFTIVRQSWMVPPVWNJVNVWMUWQOTNCVB OUIVRQSGW MTW VCCVQQKTONUW LSRQVNQKTPIVRQVW T :KVPPSWMVPPTWMUCCVOVRHTWMVPWJOVHHSWMUWTFFUKMUB LTHUSRVGW RVPPTW IUNKOTW MVPW 03 W MUW :KVNQ?KPB QUISGWNTO;WVIVNNSWUPWMVLOVQSWMUWQOTNCVOUIVRQSG TUWNVRNUWMVPP?TOQDW1.#WLDJDLD< 2TIVHUTW5VOIVGWP W8*D3+D0380 E*7>1DA>C@DAE2D7:D1DC@DA !# "$ # " # @4@9W=/=4 @96@W@!!9 @2@>,@ >--@/9W)@W-=6)@5>W)@W =6@W @!!9 @2@W&@"69,>5@W = W>,5W1#$W49!!>W+W4&4 /@W,=6)=W6959W 47VWUPW"UKMULVWMVPP?=NVLKHUSRVGWRVPPTW<@A8B$ :7@CEB9B87?D)CED66A/D=DC@BE> 45"0 (3; LSR SOMURTRHTW VIVNNTW TPP?KMUVRHTW MVP 01D38D0380GW 7TW MUNJSNQSW PTW EVRMUQTW LSRW URB LTRQSWMUWJU WPSQQUWRVPPSWNQTQSWMUWCTQQSWVWMUWMUOUQQS URWLKUWNUWQOSETRSWJVOWUPW3#D3#D0380< # #$ # BW <DB>CE<@A<@DB? E:DE7>CE8C9CE:D )B88 DCE 8A9?@71DA>B;E 7/D8C?CE >B=E 8B>?@A 9?A@D8AE:DE C@?D@C>A;E=A8C=D? E B@:B98C;E@D$ <A@?C?CE >B=E !% E :B=E %A67>BE :DE C@?D$ @C>AE A6/C@:AEC=E*A2=DAE(;E<4==CE"'(;E97/ 3EBE.E # ! #$ " !$ " " B7@AE.4-+0;-,# # #$ ! B &7A?CE <C@DE C:E E :B==CE <DB>C <@A<@DB? E:DE7>EC<<B11C6B>?AE:DE?B@@B>A 9D?AED>E C@?D@C>A;EB9?B9AE<B@E8A6<=B99D)D 6&4E554.-0;E@D<A@?C?AEC=E!% E:B=E%A67>B :DE C@?D@C>AE A6/C@:AEC=E*A2=DAE5,E<;==B .'(;E.+3;E.+.;E.+-;E.+,;E-.3EBE--' # ! #$ " !$ " "$B7@AE-4(.";(. # #$ !$BW &7A?CE<C@DEC:E E:B==CE<DB>CE<@A$ <@DB? E:DE7>EC<<B11C6B>?AE:DE?B@@B>AE9D?A D>E C@?D@C>A;EB9?B9AE<B@E8A6<=B99D)DE6&4 ,4.+0;E @D<A@?C?AE C=E !% E :B=E %A67>BE :D C@?D@C>AE A6/C@:AEC=E*A2=DAE33E<4==BE.,; -+;E 5'';E 5'+ # ! #$ " !$ " "$ B7@A 5403+4.5# # #$ " #$BW &7A?CE<C@DEC:E E:B==CE<DB>C <@A<@DB? E:DE7>EC<<B11C6B>?AE:DE?B@@B>A 9D?AED>E C@?D@C>A;EB9?B9AE<B@E8A6<=B99D)D 6&4E(4,.,;E@D<A@?C?AEC=E!% E:B=E%A67>BE:D C@?D@C>AE A6/C@:AEC=E*A2=DAE3(E<4==BE,+; ,(;E '0;E '5 # ! #$ " !$ " " B7@A 54,',4(-< # #$ !$BW &7A?CE<C@DEC:E E:DE7>EC<<B1$ 1C6B>?AE:DE?B@@B>AE9D?AED>E%A>*=B>?D;E@D<A@$ ?C?AE C=E !% E :DE :B??AE %A67>BE C=E *A2=DAE + <4==BE533;E53,;E50.;E53.;E53+;E500;E53";E53'; 505;E53-;E53(;E.+;E,0EBE5.(#E&7A?CED>:D)D9C <C@DEC:E5 ,E:DE7>EC<<B11C6B>?AE:DE?B@@B>A 9D?AED>E%A>*=B>?D;E@D<A@?C?AE>B=E!% E:DE:B??A %A67>BE C=E *A2=DAE +;E <4==BE ((;E 535;E 5.0E B 5.5;E ?7??BE C88A@<C?BE C==BE <@B8B:B>?DE B: C)B>?DE7>CE8A6<=B99D)CE97<B@*D8DBE:DE6&4 -4-.0#E&7A?CE<C@DEC:E5 3-E:DE7>EC<<B11C$ 6B>?AE:DE?B@@B>AE9D?AED>E C@?D@C>A;E@D<A@$ ?C?AE>B=E!% E:DE:B??AE8A67>BEC=E*A2=DAE5<4==CE ,,E :B==CE 97<B@*D8DBE 8A6<=B99D)CE :D 6&4E"-0#ED=E/B>BE E2@C)C?AE:CE7>CE9B@)D? :DE6B?C>A:A??A # ! #$ " !$ " " B7@AE.43(0;,3# # #$ ! $BW &7A?CE<C@DEC:E5 ,E:DE7>CE8C9CE:D C/D?C1DA>BE<A<A=C@BE9D?CED>E C@?D@C>A;EC==C DCE 2A9?D>A;E >4E 3(;E C)B>?BE 97<B@*D8DB 8A6<=B99D)CE :DE 6&4E -"E BE @D<A@?C?CE >B= !% E :DE :B??AE 8A67>BE C=E *A2=DAE (;E <4==C 3'';E97/E5 # ! #$ " !$ " "$B7@AE3435-;+-< /@W,=6)=W>649,>W6959W4 =W@2W"=W >W/5> @2@59W4 =W2>W-=6)@5>W >--@=6=W>22=W/=" =65@W496)@ @96@ -=6)@5>WW496W@64>659 VNNTWMVEVWTEVOWPKSFSWTPWJOVHHSWATNVWMUWVKOS +D*.3G*#WJVOWUPWPSQQSWRD8GWMUWVKOSW*D$+1G$+WJVO UPWPSQQSWRD0GWMUWVKOSW8D30.D+8WJVOWUPWPSQQSWRD+GWMU VKOSW 8D#%#G$*W JVOW UPW PSQQSW RDW *GW MUW VKOS +D0$3G#0WJVOWUPWPSQQSWRD1WVWMUWVKOSW0D08*G.*WJVO UPWPSQQSWRD#< PVWSCCVOQVWURWTKIVRQSGWTWJVRTWMUWURTIIUNNUAUB PUQ;GW RSRW MVESRSW VNNVOVW URCVOUSOUW TPW + W MVP JOVHHSWATNVWM?TNQT<W SFRKRSGW TUW NVRNUW MVPP?TOQDW 1%$GW LSIITW 8G LDJDLDGWQOTRRVWUPWMVAUQSOVGW WTIIVNNSWTWCSOIKB PTOVW SCCVOQVW TPP?URLTRQSW JVONSRTPIVRQVGW T IVHHSWMUWITRMTQTOUSWIKRUQSWMUWJOSLKOTWNJVB LUTPVWSWMUWJOSLKOTQSOVWPVFTPVGWTRL7VWTWRSOIT MVPP?TOQDW1%$GWLSIITW+GWLDJDLDW(UPWJOSLKOTQSOV PVFTPVWMSEO;GWURWSFRUWLTNSGWVNNVOVWIKRUQSWMU ITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQSWJKAAPULS SWNLOUQQKOTWJOUETQTWTKQVRQULTQTGWRSRWVNNVRMS NKCCULUVRQVW P?SOMURTOUSW ITRMTQSW TPPVW PUQU<W RVPB P?UJSQVNUWMUWLKUWTPWLUQTQSWTOQDW1%$GWLSIITW+GWUP ITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQSWJKAAPULS SWNLOUQQKOTWJOUETQTWTKQVRQULTQTWMSEO;WVNNVOV MVJSNUQTQSW LSRQVNQKTPIVRQVW TPPTW MUL7UTOTB
HUSRVWMVPWRSIURTQUESWMVPPTWJVONSRTGWMTWVCCVQB QKTONUWRVPWQVOIURVWMUWLKUWTPP?TOQDW1.+GWLSIIT 8GWLDJDLD' SFRUWLSRLSOOVRQVGWJVOWVNNVOVWTIIVNNSWTPP?URB LTRQSGWMVEVWJOVNVRQTOVWUNQTRHTWMUWJTOQVLUJTB HUSRVGWURWOVFSPTWLSRWUPWASPPSGWOVLTRQVGWTWJVRT MUW URVCCULTLUTGW P URMULTHUSRVW MVPW RKIVOSW MU ODFDVDW MVPPTW JOSLVMKOTGW UPW AVRVW SW UPW PSQQSW LKU P?UNQTRHTWNQVNNTW WOUCVOUQTGWUPWJOVHHSWJOSJSNQSG PVWJOSJOUVWFVRVOTPUQ;W(RSIVGWLSFRSIVGWPKSFS VW MTQTW MUW RTNLUQTGW LSMULVW CUNLTPVG OVNUMVRHT MSIULUPUSGWNQTQSWLUEUPVWVGWNVWLSRUKB FTQSGW OVFUIVW JTQOUISRUTPVW COTW UW LSRUKFU<W UR LTNSWMUWLSIKRUSRVWPVFTPVWMVUWAVRUGWSLLSOOVO; URMULTOVWTRL7VWPVWFVRVOTPUQ;WMVPWLSRUKFVWRSR SCCVOVRQVGW TPW CURVW MUW JSQVOW QOTNCVOUOVW TMW VRB QOTIAUGWJOSW:KSQTGWUPWAVRVGWURWLTNSWMUWTFFUKMUB LTHUSRV<W RVPP?UJSQVNUW MUW TL:KUNQSW TW QUQSPS JVONSRTPVWMTWJTOQVWMUWKRWLSRUKFVWURWOVFUIV MUW LSIKRUSRVW MVUW AVRUGW SLLSOOVW JOSMKOOVG SPQOVWTPPTWMUL7UTOTHUSRVWMUW:KVNQ?KPQUISGWV WTOQD 8%$GWLSIITW8GWPVQQDWCGWLSMDWLUEDGW:KVPPTWMVPWLSB RUKFVW RSRW TL:KUOVRQVW MUW LKUW TPW NVLSRMS LSIITWMVPPTWIVMVNUITWMUNJSNUHUSRVWRSOITB QUET'GWP?VNJOVNNTWMUL7UTOTHUSRVWMUWTEVOWJOVNS EUNUSRVWMVPPTWJVOUHUTWMUWNQUIT< P?UNQTRHTGWRVPWLTNSWMUWJOVNVRQTHUSRVWMTWJTOQV MUW KRW IURSOVRRVGW MSEO;W VNNVOVW NSQQSNLOUQQT MTUWFVRUQSOUGWJOVEUTWTKQSOUHHTHUSRVWMVPWFUKMULV QKQVPTOVGWMTWMVJSNUQTOVWURWLSJUTWLSRCSOIV< URWLTNSWMUWUNQTRHTWJOVNVRQTQTWLSRFUKRQTIVRQV MTWJU WNSFFVQQUGWMVEVWVNNVOVWURMULTQSWLSPKU L7VW TAAUTW P?VNLPKNUETW CTLSPQ;W MUW CSOIKPTOV VEVRQKTPUWSCCVOQVWURWTKIVRQS< RSRWNTO;WJSNNUAUPVWQOTNCVOUOVWP?UIISAUPVWTWNSFB FVQQSW MUEVONSW MTW :KVPPSW L7VW NSQQSNLOUEV P?UNQTRHT< TPP?UNQTRHTWMUWJTOQVLUJTHUSRVWMVEVWVNNVOVWTPB PVFTQTWLSJUTWMUWETPUMSWMSLKIVRQSWMUWUMVRQUQ; MVPWLSRLSOOVRQVWVGWNVWRVLVNNTOUSGWETPUMTWMSB LKIVRQTHUSRVWLSIJOSETRQVWUWJSQVOUWSWPTWPVFUQB QUITHUSRVW MVPPSW NQVNNSW (TMW VNDW JOSLKOT NJVLUTPVWSWLVOQUCULTQSWLTIVOTPVWURWLTNSWMUWNSB LUVQ;'< LSRWP?UNQTRHTWMUWJTOQVLUJTHUSRVGWMTWJOVNVRB QTONUWURWAKNQTWL7UKNTGWNVRHTWNVFRUWMUWOULSRSB NLUIVRQSGWMVEVWVNNVOVWMVJSNUQTQSWTNNVFRS LUOLSPTOVWRSRWQOTNCVOUAUPVGWURQVNQTQSWTPPVW &SNQV @QTPUTRVWNDJDTD GWQOTIUQVWLKUWVCCVQQKTOVWUPWEVONTB IVRQSWMVPPTWLTKHUSRVW(VMWURWLSRQSWJOVHHSWMU TFFUKMULTHUSRV'GWURWOTFUSRVWMUWKRWMVLUISWMVP JOVHHSWATNVWM?TNQT< TPP VNQVORSWMVPPTWAKNQTWETRRSWTRRSQTQUGWTWLKOT MVPW LTRLVPPUVOVW OULVEVRQVGW UPW RSIVGW JOVEUT UMVRQUCULTHUSRVGW MUW L7UW ITQVOUTPIVRQVW JOSEB EVMVWTPWMVJSNUQSGWUPWRSIVWMVPWFUKMULVWMVPP VNVB LKHUSRVWVWPTWMTQTWMVPP KMUVRHTWCUNNTQTWJVOWPT EVRMUQTWTPP?URLTRQS< PVWAKNQVWNTOTRRSWTJVOQVWTPP KMUVRHTWNQTAUPUQT JVOWP?URLTRQSWTPPTWJOVNVRHTWMVFPUWUNQTRQUGWPTWLKU LSIJTOUHUSRVW WRVLVNNTOUTWTUWCURUWMVPP?TFFUKB MULTHUSRVGWL7VWNTO;WMUNJSNQTWNVLSRMSWPVWJOVB NLOUHUSRUW MVPP?TOQDW 1.8W LDJDLD<W PTW ITRLTQT JTOQVLUJTHUSRVWTPP?URLTRQSGWJVONSRTPIVRQVWS TWIVHHSWMUWJOSLKOTQSOVWNJVLUTPVGWNVRHTWMSB LKIVRQTQSWVWFUKNQUCULTQSWISQUESGWLSIJSOQVO; P?URLTIVOTIVRQSWMUW8 83WMVPPTWLTKHUSRVGWL7VG MUW LSRQOSGW NTO;W UIIVMUTQTIVRQVW OVNQUQKUQT MSJSWPTWL7UKNKOTWMVPP?URLTRQSGWSEVWP?SCCVOVRQVG OVFSPTOIVRQVWJOVNVRQVGWRSRWMUEVRFTWTFFUKB MULTQTOUS<WRVPWLTNSWMUWKRTWNSPTWUNQTRHTWMUWJTOB QVLUJTHUSRVGWSLLSOOVO;WLSIKR:KVWTJJSOQTOV KRWOUTPHSWIURUISGWV WTOQDW1.8GWLSIITW0GWJVO LSRNVFKUOVWP?TFFUKMULTHUSRVWJOSEEUNSOUT< TWRSOITWMVPP?TOQDW1.*WLDJDLDGWURCTQQUGWTEEVRKQS P?URLTRQSGWJSNNSRSWVNNVOVWJOVNVRQTQVWSCCVOQV MUWTL:KUNQSWVRQOSWUPWQVOIURVWJVOVRQSOUSWMUWMUVLU FUSORUWMTPPTWFTOTGWITWVNNVWRSRWNSRSWVCCULTLU NVWUPWJOVHHSWSCCVOQSWRSRWNKJVOTWMUW8 1W:KVPPS OTFFUKRQSWRVPP?URLTRQS<WP?TFFUKMULTHUSRVGWJVOB QTRQSGW MUEVOO;W MVCURUQUETW SEVGW MVLSONUW MUVLU FUSORUGWRSRWNUTRSWNQTQVWJOVNVRQTQVWSCCVOQVWUR TKIVRQS< QTPUWSCCVOQVWJSQOTRRSWVNNVOVWMVJSNUQTQVWJOVNNS PTW4TRLVPPVOUTGWRVPPVWCSOIVWMUWLKUWTPP?TOQDW1%8 LDJDLDGWJOVNQTRMSWLTKHUSRVWJVOWKRTWNSIIT JTOUWTPWMSJJUSWMVPPTWLTKHUSRVWEVONTQTWJVOWPT JTOQVLUJTHUSRVWTPP?URLTRQSDW@RWLTNSWMUWJOVNVRB QTHUSRVWMUWQTPUWSCCVOQVGWEVOO;WURMVQQTWKRTWFTOT NVLSRMSWPVWJOVEUNUSRUWMUWLKUWTPP?TOQDW1.*WLDJDLDD /VWRVNNKRSWMVFPUWSCCVOVRQUWURWTKIVRQSWJTOQVB LUJTWTPPTWFTOTWURMVQQTWTWRSOITWMVPP?TOQDW1.*G LSIITW+GWLDJDLDGWP?TFFUKMULTHUSRVWMUEVRQTWMVB CURUQUETWVWEVOO;WJOSRKRLUTQTWTWLTOULSWMVFPUWSCB CVOVRQUW(NTPESWL7VWOULSOOTWKRWMSLKIVRQTQSWV FUKNQUCULTQSWISQUES'WPTWJVOMUQTWMVPPTWLTKHUSRVG UPWLKUWUIJSOQSW WQOTQQVRKQSWLSIVWOUREVRUVRQVWT QKQQUWFPUWVCCVQQUWMTPP?VNVLKHUSRV<W URWSFRUWLTNSGWPVWNJVNVWMVPWQOTNCVOUIVRQSWLTB MSRSWTWLTOULSWMVPP?TFFUKMULTQTOUSGWLKUWOVNQTRS OUNVOETQVWPVWTQQUEUQ;WVMWUWLSNQUWJVOWPTWOVFUNQOTB HUSRVWVWQOTNLOUHUSRVWMVPWMVLOVQSWRSRL7 WJVO PTWLTRLVPPTHUSRVWMVPPVWCSOITPUQ;WJOVFUKMUHUVB ESPUWFOTETRQUWNKFPUWUIISAUPUWTL:KUNQTQU< WJSNNUAUPVGWJVOWUWJTOQVLUJTRQUWTPPVWTNQVGWSQQVB RVOVWIKQKUWTWQTNNUWVWLSRMUHUSRUWVLSRSIUL7V JOVNQTAUPUQUWMTWSFRUWNURFSPTWATRLTWTMVOVRQV
JOSQSLSPPSW > @ WJVOWPTWLSRLVNNUSRVWMUWIKQKU TFPUWTFFUKMULTQTOU<WP?VPVRLSWMVPPVWATRL7VWTMVB OVRQUWTPP?URUHUTQUETWJVOWUPW5OUAKRTPVWMUW2TIVHUT 5VOIVW WOVJVOUAUPVWJOVNNSWPTW4TRLVPPVOUT<W WCUNNTQSGWJVOWPTWJOVNVRQTHUSRVWJOVNNSWPTW4TRB LVPPVOUTW MVPPVW =NVLKHUSRUW @IISAUPUTOUW MVPPV UNQTRHVWMUWJTOQVLUJTHUSRVWTPPTWEVRMUQTWTUWJKAB APULUWURLTRQUWMVPWLSIJVRMUSWUIISAUPUTOVWNSJOT URMULTQSW VW IVFPUSW MVNLOUQQSW RVPPTW OVPTHUSRV MVPP?VNJVOQSWURWTQQUGWTPPTW:KTPVWNUWCTWVNJOVNNS OUL7UTISGW :KTPVW JTOQVW URQVFOTRQVW VW NSNQTRB HUTPVWMVPPTWJOVNVRQVWSOMURTRHTGWQVOIURVWCURS TPPVWSOVW8+D33WMVPW31D3#D0380GWLSRWPVWISMTB PUQ;WVWJVOWUPWJOVHHSWIURUISWMUWLKUWNSJOT< WCUNNTQTGWJVOWUPWFUSORSW0,40,43053;EA@BE0(4.0 VWNVFFDGWPTWEVRMUQTWTUWJKAAPULUWURLTRQUWMVPWLSIB JVRMUSWUIISAUPUTOVWNSJOTWURMULTQSGWLSRWPVWISB MTPUQ;WVWJVOWUPWJOVHHSWATNVWMUWLKUWURRTRHU< 2>W-=6)@5>W>--@=6=W>22=W/=" =65@W 496)@ @96@GW/@>W >29,>W-@W/@W >44@>W2 9"9W/=6 >W@64>659G W/@>W >29,>W-@W/@W >44@> W2 9"9W496W@64>659 FPUW UIISAUPUW EVRFSRSW JSNQUW URW EVRMUQTW RVPPS NQTQSWMUWCTQQSWVWMUWMUOUQQSWURWLKUWNUWQOSETRSGWLSN LSIVW UMVRQUCULTQUGW MVNLOUQQUW VW ETPKQTQUW MTPB P?VNJVOQSWRVPPTWOVPTHUSRVGWLSRWSFRUWVEVRQKTPV NVOEUQ WTQQUETWVWJTNNUETWURVOVRQVWVW:KSQVWLSRB MSIURUTPUWOVPTQUEV< PTWEVRMUQTW WTWLSOJSWVWRSRWTWIUNKOT<WVEVRQKTPU MUCCVOVRHVWMUWIUNKOTWRSRWJSQOTRRSWMTOWPKSFS TMWTPLKRWOUNTOLUIVRQSGWURMVRRUQ;WSWOUMKHUSRV MVPWJOVHHS<WPTWEVRMUQTWCSOHTQTWRSRW WNSFFVQQT TPPVWRSOIVWLSRLVORVRQUWPTWFTOTRHUTWJVOWEUHUWS ITRLTRHTWMUW:KTPUQ;GWR WJSQO;WVNNVOVWOVESB LTQTWJVOWTPLKRWISQUESDW4SRNVFKVRQVIVRQV P?VNUNQVRHTW MUW VEVRQKTPUW EUHUGW ITRLTRHTW MU :KTPUQ;WSWMUCCSOIUQ;WMVPPTWLSNTWEVRMKQTGWSRVOU MUW:KTPNUTNUWFVRVOVWBWUEUWLSIJOVNUGWTMWVNVIB JUSGW:KVPPUWKOATRUNQULUWSEEVOSWMVOUETRQUWMTPPT VEVRQKTPVWRVLVNNUQ;WMUWTMVFKTIVRQSWMUWUIB JUTRQUWTPPVWPVFFUWEUFVRQUGWNJVNVWLSRMSIURUTPU MVPP?TRRSW URW LSONSW VW MVPP?TRRSW JOVLVMVRQV RSRWJTFTQVWMTPWMVAUQSOVWBWJVOW:KTPNUTNUWISB QUESWRSRWLSRNUMVOTQUGWTRL7VWNVWSLLKPQUWVWLSB IKR:KVW RSRW VEUMVRHUTQUW URW JVOUHUTGW RSR JSQOTRRSWMTOWPKSFSWTMWTPLKRWOUNTOLUIVRQSGWURB MVRRUQ;WSWOUMKHUSRVWMVPWJOVHHSGWVNNVRMSNUWMU LU WQVRKQSWLSRQSWRVPPTWETPKQTHUSRVWMVUWAVRU< P?TFFUKMULTQTOUSWMSEO;WEVONTOVWPTWMUCCVOVRHT MVPWJOVHHSW(MVQOTQQTWMTPWJOVHHSWMUWTFFUKMULTB HUSRVWPTWLTKHUSRVWMUWLKUWNSJOT'WVRQOSWKRWQVOB IURVWITNNUISWMUWNVNNTRQTWFUSORUWMTPPTWMTQT MUWTFFUKMULTHUSRVWIVMUTRQVWTNNVFRSWLUOLSB PTOVWRSRWQOTNCVOUAUPVWURQVNQTQSWTW &SNQVW@QTPUTRV NDJDTD W(:KTPSOTWUPWJOSLVMUIVRQSWNUWCSRMUWNK LOVMUQSW CSRMUTOUSW VW P?TFFUKMULTQTOUSW RSRW URB QVRMTWTEETPVONUWMVPPTWCTLSPQ;WMUWNKAVRQOTOVWRVP LSRQOTQQSGW TPP?TNNVFRSW LUOLSPTOVW NTO;W NSNQUB QKUQSGWV WTOQDW*8GWLSIITW*GW)D2FNDW8WNVQQVIB AOVW 8$$+GW RDW +.1GW UPW JTFTIVRQSW MUOVQQSW TPPT ATRLTWLOVMUQOULVGWRVUWPUIUQUWMVPWLOVMUQSWTHUSRTQS JVOWLTJUQTPVGWURQVOVNNUWVWNJVNVWLSRWLSPPSLTB HUSRVWJOUEUPVFUTQTGWVRQOSWPSWNQVNNSWQVOIURVWV MVQOTQQSWKRWTLLTRQSRTIVRQSWJVOWNJVNVWRVPPT IUNKOTWL7VWNTO;WURMULTQTWMTPWFDVD'<W URWITRLTRHTGWNUWJOSEEVMVO;WTWMUL7UTOTOVWPT MVLTMVRHTW MTPP?TFFUKMULTHUSRVGW TW RSOIT MVPP?TOQDW1.%WLDJDLD< NSPQTRQSW TPP?VNUQSW MVFPUW TMVIJUIVRQUW JOVLVB MVRQUGWMVPPTWJOSMKHUSRVWMUWTFFUSORTQUWLVOQUCULTQU LTQTNQTPUWVWMUWTFFUSORTQUWLVOQUCULTQUWOVPTQUEUWTPPV UNLOUHUSRUW VW QOTNLOUHUSRUW VCCVQQKTQVW NKPW AVRV RSRL7 WMVPWJTFTIVRQSWMVPPVWNJVNVWMUWQOTNCVB OUIVRQSGW MTW VCCVQQKTONUW LSRQVNQKTPIVRQVW T :KVPPSWMVPPTWMUCCVOVRHTWMVPWJOVHHSWMUWTFFUKMUB LTHUSRVGW RVPPTW IUNKOTW MVPW 03 W MUW :KVNQ?KPB QUISGWNTO;WVIVNNSWUPWMVLOVQSWMUWQOTNCVOUIVRQSG TUWNVRNUWMVPP?TOQDW1.#WLDJDLD< 2TIVHUTW5VOIVGWP W8*D3+D0380 =E*7>1DA>C@DAE2D7:D1DC@DA !# "$ # " # !4E50( 5((+E B24E 94E 664 >--@/9W)@W-=6)@5> @PWJOSCVNNUSRUNQTWMVPVFTQSW $ $ $ &OVNNSW >//94@> @96=W695>,@2=W&,94=) ,= =/=4 5@-=W)@WW2>!= @>W5=,!=W &UTHHTWMVPPTW,VJKAAPULT RVPPTWJOSLVMKOTWVNVLKQUETWJOSJSNQTWMTW 4,=)@59W=!@2@>69W/D&D>D SOTW " =,W/DJD>D -UNQSWUPWJOSEEVMUIVRQSWMUWMVPVFTWTPPTWEVRMUQT VIVNNSWMTPWFUKMULVWMVPP?VNVLKHUSRVWMVPW5OUB AKRTPVWMUW2TIVHUTW5VOIVWURWMTQTW83 3% 033# RVPPTWJOSLVMKOTWRDW83$ $.W,D=D< ,UQVRKQSW SJJSOQKRSW OUCUNNTOVW PTW EVRMUQTW MVU AVRUWWLSRWPTWOUMKHUSRVWMVPWJOVHHSWATNVWMUW FUKNQTWTKQSOUHHTHUSRVWMVPW"D=D< -UNQSWP?TOQDW1#$WLDJDLD >--@/> L7VWURWMTQTW,E2D72>AE3053EC==BEA@BE55;.0; RVP &TPTHHSW MUW "UKNQUHUTW MUW 2TIVHUTW 5VOIVG
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
! #$ " ! E-'455.;', (VKOSW:KTOTRQTNVQB QVIUPTLVRQSQOVMULUWEUOFSPTWNVQQTRQTNVU' >--@/>W>25,=/
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
NKDDULUVRQVW PASOMURTOUSW ITRMTQSW TPPVW PUQU<W RVPB LKIVRQTGUSRVWLSIJOSETRQVWUWJSQVOUWSWPTWPVFUQB PAUJSQVNUWMUWLKUWTPWLUQTQSWTOQCW4-&HWLSIITW.HWUP QUITGUSRVWMVPPSWNQVNNSW)WTNWVNCWJOSLKOTWNJVB ITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQSWJK@@PULS LUTPVWSWLVOQUDULTQSWLTIVOTPVWURWLTNSWMUWNSLUVQ>( SWNLOUQQKOTWJOUETQTWTKQVRQULTQTWMSEO>WVNNVOV 3SRWPAUNQTRGTWMUWJTOQVLUJTGUSRVHWMTWJOVNVRB MVJSNUQTQSW LSRQVNQKTPIVRQVW TPPTW MUL9UTOTB QTONUWURW@KNQTWL9UKNTHWNVRGTWNVFRUWMUWOULSRSB GUSRVWMVPWRSIURTQUESWMVPPTWJVONSRTHWMTWVDDVQB NLUIVRQSHWMVEVWVNNVOVWMVJSNUQTQSWTNNVFRS QKTONUWRVPWQVOIURVWMUWLKUWTPPATOQCW4+.HWLSIIT LUOLSPTOVWRSRWQOTNDVOU@UPVHWURQVNQTQSWTW 6/17 :HWLCJCLC( ?1;2?;87W/C C;CHWQOTIUQVWLKUWVDDVQQKTOVWUPWEVOB SFRUWLSRLSOOVRQVHWJVOWVNNVOVWTIIVNNSWTPPAURB NTIVRQSWMVPPTWLTKGUSRVW)WVMWURWLSRQSWJOVGGS LTRQSHWMVEVWJOVNVRQTOVWUNQTRGTWMUWJTOQVLUJTB MUWTFFUKMULTGUSRV(WHWURWWOTFUSRVWMUWKRWMVLUIS GUSRVHWURWOVFSPTWLSRWUPW@SPPSHWOVLTRQVHWTWJVRT MVPWJOVGGSW@TNVWMATNQT< MUW URVDDULTLUTHW P URMULTGUSRVW MVPW RKIVOSW MU 8SOITWMVPPATOQC4+!WLCJCLCWHWURDTQQUHWTEEVRKQS OCFCVCW MVPPTW JOSLVMKOTHW UPW @VRVW SW UPW PSQQSW LKU PAURLTRQSHWJSNNSRSWVNNVOVWJOVNVRQTQVWSDDVOQV PAUNQTRGTWNQVNNTW%WOUDVOUQTHWUPWJOVGGSWJOSJSNQSH MUWTL=KUNQSWVRQOSWUPWQVOIURVWJVOVRQSOUSWMUWMUVLU PVWJOSJOUVWFVRVOTPUQ>W)RSIVHWLSFRSIVHWPKSFS FUSORUWMTPPTWFTOTHWITWVNNVWRSRWNSRSWVDDULTLU VW MTQTW MUW RTNLUQTHW LSMULVW DUNLTPVH NVWUPWJOVGGSWSDDVOQSWRSRWNKJVOTWMUW:$4W=KVPPS OVNUMVRGT$MSIULUPUSHWNQTQSWLUEUPVWVHWNVWLSRUKB OTFFUKRQSWRVPPAURLTRQS<WPATFFUKMULTGUSRVHWJVOB FTQSHW OVFUIVW JTQOUISRUTPVW DOTW UW LSRUKFU<W UR QTRQSHMUEVRQVO>WMVDURUQUETWSEVHWMVLSONUWMUVLU LTNSWMUWLSIKRUSRVWPVFTPVWMVUW@VRUHWSLLSOOVO> FUSORUWHWRSRWNUTRSWNQTQVWJOVNVRQTQVWSDDVOQVWUR URMULTOVWTRL9VWPVWFVRVOTPUQ>WMVPWLSRUKFVWRSR TKIVRQS< SDDVOVRQVHW TPW DURVW MUW JSQVOW QOTNDVOUOVW TMW VRB ?RWSFRUWLTNSHWPVWNJVNVWMVPWQOTNDVOUIVRQSWLVB QOTI@UHWJOSW=KSQTHWUPW@VRVHWURWLTNSWMUWTFFUKMUB MSRSWTWLTOULSWMVPPATFFUKMULTQTOUSHLKUWOVNQTRS LTGUSRV<W RVPPAUJSQVNUW MUW TL=KUNQSW TW QUQSPS OUNVOETQVWPVWTQQUEUQ>WVMWUWLSNQUWJVOWPTWOVFUNQOTB JVONSRTPVWMTWJTOQVWMUWKRWLSRUKFVWURWOVFUIV GUSRVWVWQOTNLOUGUSRVWMVPWMVLOVQSWRSRL9 WJVO MUW LSIKRUSRVW MVUW @VRUHW SLLSOOVW JOSMKOOVH PTWLTRLVPPTGUSRVWMVPPVWDSOITPUQ>WJOVFUKMUGUVB SPQOVWTPPTWMUL9UTOTGUSRVWMUW=KVNQAKPQUISHWV WTOQC ESPUWFOTETRQUWNKFPUWUIIS@UPUWTL=KUNQTQU< :-&HWLSIITW:HWPVQQCWDHWLSMCWLUECHW=KVPPTWMVPWLSB WJSNNU@UPVHJVOWUWJTOQVLUJTRQUWTPPVWTNQVHWSQQVB RUKFVW RSRW TL=KUOVRQVW MUW LKUW TPW NVLSRMS RVOVWIKQKUWTWQTNNUWVWLSRMUGUSRUWVLSRSIUL9V LSIITWMVPPTWIVMVNUITWMUNJSNUGUSRVWRSOITB JOVNQT@UPUQUWMTWSFRUWNURFSPTW@TRLTWTMVOVRQV QUET(HWPAVNJOVNNTWMUL9UTOTGUSRVWMUWTEVOWJOVNS JOSQSLSPPS ; ? WJVOWPTWLSRLVNNUSRVWMUWIKQKU EUNUSRVWMVPPTWJVOUGUTWMUWNQUIT<W TFPUWTFFUKMULTQTOU< PAUNQTRGTHWRVPWLTNSWMUWJOVNVRQTGUSRVWMTWJTOQV PAVPVRLSW MVPPVW @TRL9VW TMVOVRQUW TPPAURUGUTQUET MUW KRW IURSOVRRVHW MSEO>W VNNVOVW NSQQSNLOUQQT JVOWUPWQOU@KRTPVWMUW2TIVGUTW1VOIVW%WOVJVOU@UPV MTUWFVRUQSOUHWJOVEUTWTKQSOUGGTGUSRVWMVPWFUKMULV JOVNNSWPTW3TRLVPPVOUTW< QKQVPTOVHWMTWMVJSNUQTOVWURWLSJUTWLSRDSOIV< ?//; URWLTNSWMUWUNQTRGTWJOVNVRQTQTWLSRFUKRQTIVRQV VOWPTWJOVNVRQTGUSRVWJOVNNSWPTW3TRLVPPVOUT MTWJU WNSFFVQQUHWMVEVWVNNVOVWURMULTQSWLSPKU MVPPVW7NVLKGUSRUW?IIS@UPUTOUWMVPPVWUNQTRGVWMU L9VW T@@UTW PAVNLPKNUETW DTLSPQ>W MUW DSOIKPTOV JTOQVLUJTGUSRVWTPPTWEVRMUQTWTUWJK@@PULUWURLTRQU VEVRQKTPUWSDDVOQVWURWTKIVRQS< MVPWLSIJVRMUSWUIIS@UPUTOVWNSJOTWURMULTQSWV RSRWNTO>WJSNNU@UPVWQOTNDVOUOVWPAUIIS@UPVWTWNSFB IVFPUSWMVNLOUQQSWRVPPTWOVPTGUSRVWMVPPAVNJVOQS FVQQSW MUEVONSW MTW =KVPPSW L9VW NSQQSNLOUEV URW TQQUHW TPPTW =KTPVW NUW DTW VNJOVNNS PAUNQTRGT< OUL9UTISH=KTPVWJTOQVWURQVFOTRQVWVWNSNQTRGUTPV TPPAUNQTRGTWMUWJTOQVLUJTGUSRVWMVEVWVNNVOVWTPB MVPPASOMURTRGTHW QVOIURVW DURSW SOVW :.C55W MVP PVFTQTWLSJUTWMUWETPUMSWMSLKIVRQSWMUWUMVRQUQ> FUSORSW 54$5 $05:0W LSRW PVW ISMTPUQ>W VW JVOW UP MVPWLSRLSOOVRQVWVHWNVWRVLVNNTOUSHWETPUMTWMSB JOVGGSWIURUISWMUWLKUWNSJOT<W LKIVRQTGUSRVWLSIJOSETRQVWUWJSQVOUWSWPTWPVFUQB VOWUPWFUSORSW* * &*#&74-37 ( * VWNVFFCW2T QUITGUSRVW MVPPSW NQVNNSW )TMW VNCW JOSLKOT EVRMUQTWTUWJK@@PULUWURLTRQUWMVPWLSIJVRMUSWUIB NJVLUTPVWSWLVOQUDULTQSWLTIVOTPVWURWLTNSWMUWNSB IS@UPUTOVWNSJOTWURMULTQSHWLSRWPVWISMTPUQ>WV LUVQ>(< JVOWUPWJOVGGSW@TNVWMUWLKUWURRTRGUW< LSRWPAUNQTRGTWMUWJTOQVLUJTGUSRVHWMTWJOVNVRB ;,,7"17 QTONUWURW@KNQTWL9UKNTHWNVRGTWNVFRUWMUWOULSRSB URWMASOTWPVWJTOQUWL9VHWSEVWPAKMUVRGTWDUNNTQT NLUIVRQSHWMVEVWVNNVOVWMVJSNUQTQSWTNNVFRS JVOWPTWLVPV@OTGUSRVWMVPPAURLTRQSHW=KVNQSWRSR * ?3?6W7/73* ?68?W? 6 ?2?;"? LUOLSPTOVWRSRWQOTNDVOU@UPVHWURQVNQTQSWTPPVW SNQV T@@UTWPKSFSWJVOW=KTPKR=KVWISQUESWHUPW#C7CWWNU ( 72(7*# &*#* ?QTPUTRVWNCJCTC HWQOTIUQVWLKUWVDDVQQKTOVWUPWEVONTB OUNVOETWMUWTJJPULTOVWUIIVMUTQTIVRQVW WVWLUS% /UWOVRMVWRSQSWL9VWUPW#UKMULVWMVPPAVNVLKGUSRUH IVRQSWMVPPTWLTKGUSRVW)VMWURWLSRQSWJOVGGSWMU TW=KVPPTWNQVNNTWKMUVRGTW WPATOQULSPSW4&:WLSMC TFFUKMULTGUSRV(HWURWOTFUSRVWMUWKRWMVLUISWMVP JOSLWCWLUEWCHWNVRGTWTPLKRWOUREUSWURQVOIVMUSWS RVPPATI@UQSWMVPWJOSLVMUIVRQSWRC:$05:5W"C#C JOVGGSW@TNVWMATNQT< KPQVOUSOVHWURW=KVPPSWNQVNNSWLSRQVNQSWNVRQVRMS MVPPVWVNVLKGUSRUWLUEUPUHWLSRWSOMURTRGTWOVNTW TPP VNQVORSWMVPPTW@KNQTWETRRSWTRRSQTQUHWTWLKOT PVW JTOQUW VW JOSEEVMVRMSW NKPPTW MUNJSNUGUSRV TPPAKMUVRGTWMVPWFUSORSW5:$50$05:0HW MVPW LTRLVPPUVOVW OULVEVRQVHW UPW RSIVHW JOVEUT MVPPATIIURUNQOTGUSRVWFUKMUGUTOUTWSWNKPPTWDUNNTB 9TWMUNJSNQSWL9VWUWNVFKVRQUW@VRUWUIIS@UPU WWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW UMVRQUDULTGUSRVHW MUW L9UW ITQVOUTPIVRQVW JOSEB GUSRVWMUWKRTWRKSETWEVRMUQT< W .6)62242376'5!514767/6!4-614 EVMVWTPWMVJSNUQSHWUPWRSIVWMVPWFUKMULVWMVPP VNVB 2TIVGUTW1VOIVHWPUW0+WDV@@OTUSW05:0 -5476-15$5626/37,5147527 65'607.421-6'67$56- LKGUSRVWVWPTWMTQTWMVPP KMUVRGTWDUNNTQTWJVOWPT ?PW#UKMULVWMVPPAVNVLKGUSRV '525076"32137+267,+)3- 5.537.4%)/3,,5"67'5 EVRMUQTWTPPAURLTRQS< % (# 07 -5)4-16147 23/7 2.3+7 '57 '31147 .4 PVW@KNQVWNTOTRRSWTJVOQVWTPP KMUVRGTWNQT@UPUQT %+2376/7 4$/547 0)(//67 & 07.61(. 07./6,,3 JVOWPAURLTRQSWTPPTWJOVNVRGTWMVFPUWUNQTRQUHWPTWLKU &7 7 LSIJTOUGUSRVW%WRVLVNNTOUTWTUWDURUWMVPPATFFUKB * ?3?6W7/73* ?68?W? 6 ?2?;"? BW 6))6-16%32147)3-7.5"5/376!516 MULTGUSRVHWL9VWNTO>WMUNJSNQTWNVLSRMSWPVWJOVB ;,,?/6W'?W,78'?1;W'?W 78? 54237,5147527%65'6076//67"567 ( 4!5/3702(#* NLOUGUSRUW MVPPATOQCW 4+:W LCJCLC<W PTW ITRLTQT ? 6 ?2?W ?#86";1?W 07 )56247 13--67 07 .4,151+5147 '67 +27 52$-3,,4 JTOQVLUJTGUSRVWTPPAURLTRQSHWJVONSRTPIVRQVWS 7 W;"1W4 &W36 ;W.W3 3 .+.526707+267.6%3-67'67/3114707+27!6$2473 TWIVGGSWMUWJOSLKOTQSOVWNJVLUTPVHWNVRGTWMSB /?W"78'7W8616W +27,4))6/.476!516!5/376'7+,47,4$$54-240 LKIVRQTQSWVWFUKNQUDULTQSWISQUESHWLSIJSOQVO> 39VWUPW#UKMULVWMVPPA7NVLKGUSRVHWRVPPT 4/1-37!6/.42307-5)4-1614723/7 .3+7'57'3114 PAURLTIVOTIVRQSWMUW:$:5WMVPPTWLTKGUSRVHWL9VH )-4.3'+-673,3.+15"675%%4!5/56-3 .4%+237 6/7 4/$547 07 )(//67 && 07 ,+!7 0 MUW LSRQOSHW NTO>W UIIVMUTQTIVRQVW OVNQUQKUQT 2 &** 07 .61( 07./6,,37&07"6257#0 7 MSJSWPTWL9UKNKOTWMVPPAURLTRQSHWSEVWPASDDVOVRQVH LSRW SOMURTRGTW VIVNNTW TPPAKMUVRGTW MVP EVRFTRSWEVRMKQUWTPPAURLTRQSWTPPVWIVMVNUIV OVFSPTOIVRQVWJOVNVRQVHWRSRWMUEVRFTWTFFUKB 04C5:C05:0HW 9TW MUNJSNQSW PTW EVRMUQTW LSRW URB LSRMUGUSRUWMUWLKUWTPPTWJOVLVMVRQVWSOMURTRGT MULTQTOUS<RVPWLTNSWMUWKRTWNSPTWUNQTRGTWMUWJTOB LTRQSWURWKRWKRULSWPSQQSWWRVPPSWNQTQSWMUWDTQQSWV MVPPA::$::$05:5HWETPVWTWMUOVW QVLUJTGUSRVHWSLLSOOVO>WLSIKR=KVWTJJSOQTOV MUWMUOUQQSWURWLKUWNUWQOSETWJVOWPA5 C5 C05:0< 26116W 8C:W KRWOUTPGSWIURUISHWV WTOQCW4+:HWLSIITW0HWJVO BW /4.6/37.4%%3-.56/37.42762 &( **0** LSRNVFKUOVWPATFFUKMULTGUSRVWJOSEEUNSOUT< 23,,47%6$6 524737.4-1373,13-267,514752 26116W 8C0W TWRSOITWMVPPATOQCW4+!WLCJCLCHWURDTQQUHWTEEVRKQS 6%3 567 3-%3076//67"567 5-$5//4072(&07.4,15 (* 0** PAURLTRQSHWJSNNSRSWVNNVOVWJOVNVRQTQVWSDDVOQV 1+5140767)5624713--607'6//67.4-1307+247,)6 54 2ATKIVRQSWIURUISWMTWTJJSOQTOVWTPPVWSDDVOQVH MUWTL=KUNQSWVRQOSWUPWQVOIURVWJVOVRQSOUSWMUWMUVLU 3,)4,515"407+27+ 5.5407+27,3-"5 5475$5325.4 TWJVRTWMUWURTIIUNNU@UPUQ>WHWRSRWMVESRSWVNB FUSORUWMTPPTWFTOTHWITWVNNVWRSRWNSRSWVDDULTLU 3076/7)562475213--61407'67+27%6$6 524 4 NVOVWURDVOUSOUWTMWVKOSW!C455H55WJVOWUPWPSQQSWRC: NVWUPWJOVGGSWSDDVOQSWRSRWNKJVOTWMUW:$4W=KVPPS 5.526737'67+27,3-"5 5475$5325.407)3-7+26 VMWVKOSW:C&55C55WJVOWUPWPSQQSWRC0W< OTFFUKRQSWRVPPAURLTRQS<WPATFFUKMULTGUSRVHWJVOB ,+)3- 5.537.42"32 5426/37'57"32'5167'57% ( 6FRKFRSHW TUW NVRNUW MVPPATOQC4-&HW LSIITW :H QTRQSHW MUEVOO>W MVDURUQUETW SEVHW MVLSONUW MUVLU &0 (7 /7.4%)32'547 7-5)4-1614723/7 LCJCLCWQOTRRVWUPWMV@UQSOVW)DTPPUQS(WHWVWTIIVNNS FUSORUHWRSRWNUTRSWNQTQVWJOVNVRQTQVWSDDVOQVWUR 6/7 4$/547 &*07 )(//67 # 07 ,+!7 #07 .61(7 #0 TWDSOIKPTOVWSDDVOQVWTPPAURLTRQSWJVONSRTPIVRQV TKIVRQS< ./6,,37 0737,+!7 07.61(7 &07./6,,37# HWTWIVGGSWMUWITRMTQTOUSWIKRUQSWMUWJOSLKOT QTPUWSDDVOQVWJSQOTRRSWVNNVOVWMVJSNUQTQVWJOVNNS 3+-47& ( 0** NJVLUTPVW SW MUW JOSLKOTQSOVW PVFTPVHW TRL9VW T PTW3TRLVPPVOUTHWRVPPVWDSOIVWMUWLKUWTPPATOQCW4-: /?W"78'7W;836";W8616W3 7W?2W#7W ; RSOITWMVPPATOQC4-&HWLSIITW.HWLCJCLCW)WUPWJOSB /1; ?2?16W3 7W2;W,78'?1;W;,,?787 LCJCLCHWJOVNQTRMSWLTKGUSRVWJVOWKRTWNSIIT LKOTQSOVWPVFTPVWMSEO>HWURWSFRUWLTNSHWVNNVOV W;227W/7#*781?W368'? ?68? JTOUWTPWMSJJUSWMVPPTWLTKGUSRVWEVONTQTWJVOWPT IKRUQSWMUWITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQS ,78'?1;WW368W?83;816 JTOQVLUJTGUSRVWTPPAURLTRQSCW?RWLTNSWMUWJOVNVRB JK@@PULSWSWNLOUQQKOTWJOUETQTWTKQVRQULTHWRSRWVNB VNNTWMVEVWTEVOWPKSFSWTPWJOVGGSW@TNVWMUWVKB QTGUSRVWMUWQTPUWSDDVOQVHWEVOO>WURMVQQTWKRTWFTOT NVRMSWNKDDULUVRQVWPASOMURTOUSWITRMTQSWTPPVWPUQU OSMUWVKOSW0! C.-4H55JVOWUPWPSQQSWKRULS<WW NVLSRMSWPVWJOVEUNUSRUWMUWLKUWTPPATOQCW4+!WLCJCLCC <WRVPPAUJSQVNUWMUWLKUWTPWLUQTQSWTOQW4-&CW3SIITW. PVWSDDVOQVWURWTKIVRQSHWTWJVRTWMUWURTIIUNNU@UB /VWRVNNKRSWMVFPUWSDDVOVRQUWURWTKIVRQSWJTOQVB HWUPWITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQSWJK@B PUQ>HW RSRW MVESRSW VNNVOVW URDVOUSOUW TPW . W MVP LUJTWTPPTWFTOTWURMVQQTWTWRSOITWMVPPATOQCW4+!H @PULSWSWNLOUQQKOTWJOUETQTWTKQVRQULTWMSEO>WVNB JOVGGSW@TNVWMATNQT<W LSIITW.HWLCJCLCHWPATFFUKMULTGUSRVWMUEVRQTWMVB NVOVW MVJSNUQTQSW LSRQVNQKTPIVRQVW TPPT SFRKRSHW TUW NVRNUW MVPPATOQCW 4-&HW LSIITW :H DURUQUETWVWEVOO>WJOSRKRLUTQTWTWLTOULSWMVFPUWSDB MUL9UTOTGUSRVWMVPWRSIURTQUESWMVPPTWJVONSRTH LCJCLCHWQOTRRVWUPWMV@UQSOVHW%WTIIVNNSWTWDSOIKB DVOVRQUW)NTPESWL9VWOULSOOTWKRWMSLKIVRQTQSWV MTWVDDVQQKTONUWRVPWQVOIURVWMUWLKUWTPPATOQCW4+.H PTOVW SDDVOQVW TPPAURLTRQSW JVONSRTPIVRQVHW T FUKNQUDULTQSWISQUES(WPTWJVOMUQTWMVPPTWLTKGUSRVH LSIITW:WLCJCLC( IVGGSWMUWITRMTQTOUSWIKRUQSWMUWJOSLKOTWNJVB UPWLKUWUIJSOQSW%WQOTQQVRKQSWLSIVWOUREVRUVRQVWT 8SRW NTO>W JSNNU@UPVW QOTNDVOUOVW PAUIIS@UPVW T LUTPVWSWMUWJOSLKOTQSOVWPVFTPVHWTRL9VWTWRSOIT QKQQUWFPUWVDDVQQUWMTPPAVNVLKGUSRV<W NSFFVQQSW MUEVONSW MTW =KVPPSW L9VW NSQQSNLOUEV MVPPATOQCW4-&HWLSIITW.HWLCJCLCW)UPWJOSLKOTQSOV URWSFRUWLTNSHWPVWNJVNVWMVPWQOTNDVOUIVRQSWLVB PAUNQTRGT PVFTPVWMSEO>HWURWSFRUWLTNSHWVNNVOVWIKRUQSWMU MSRSWTWLTOULSWMVPPATFFUKMULTQTOUSHWLKUWOVNQTRS ;PPAUNQTRGTWMUWJTOQVLUJTGUSRVWMVEVWVNNVOVWTPB ITRMTQSWNJVLUTPVWOUNKPQTRQVWMTWTQQSWJK@@PULS OUNVOETQVWPVWTQQUEUQ>WVMWUWLSNQUWJVOWPTWOVFUNQOTB PVFTQTWLSJUTWMUWETPUMSWMSLKIVRQSWMAUMVRQUQ> SWNLOUQQKOTWJOUETQTWTKQVRQULTQTHWRSRWVNNVRMS GUSRVWVWQOTNLOUGUSRVWMVPWMVLOVQSWRSRL9 WJVO MVPWLSRLSOOVRQVWVWHWNVWRVLVNNTOUSHWETPUMTWMSB
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
2-+UOTNULSKHAUROOAUJAHAJAUTULSUJISU$ULRORUPQOSESR SPU5RPJTMMTNSRFURMGTPQU6IRNRPORJSP6ITUDSQNPS HNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPTULTMMT QCCTNOTUQULTMMRULRORULTMM>SPJRPOQ: SMUJNTLSOQNTUHNQJTLTPOTUHI FUSPQMONTFULRNTUHI@? @MSJSO<ULTMMRUHNTKTPOTUQNLSPRPERFURUKIRUJINR TLUQBTUMQUNSOTPDRUQHHQNOIPQ RUKITUKHTKTU%NSG@QNKR@SMSUT URNOAU.--/UJQLA JSBA&FUJQPUHI@@MSJSO<UGINRNSRFULRUTCCTOOIRNKSUPTS 5QGIPSU LSU 1RGTESRU3TNGTU TU LSU I@SJRESQPT LTDMSUSGGQ@SMSFURMGTPQU6IRNRPORJSP6ITUDSQNPS HNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPTULTMMT QCCTNOTUQULTMMRULRORULTMM!SPJRPOQ: RUKITUKHTKTU%NSG@QNKR@SMSUT URNOAU.--/UJQLA JSBA&FURUIMOTNSQNSUCQNGTULSUHI@@MSJSO<ULRMUGTLT? KSGQUHNTKJTMOTFULRUTKTDISNKSURMGTPQU6IRNRP? ORJSP6ITU DSQNPSU HNSGRU LTMU OTNGSPTU HTNU MR HNTKTPORESQPTULTMMTUQCCTNOTUQULTMMRULRORULTM? M!SPJRPOQ: MRU HI@@MSJSO<U GINRNSRU TU M>IMOTNSQNTU HI@@MSJSO< HNTKJTMORUKQPQULSJ4SRNROTUKSPUL>QNRUPQPUPT? JTKKRNSTURSUCSPSULTMM>TKHTNS@SMSO<ULTMMRUBTPLSOR:U LTMMRU HNQBRU LTMMRU HI@@MSJSO<U TMTOONQPSJRU TU R GTEEQUKORGHRU ULRULTHQKSORNKSUSPUJRPJTMMTNSR RMGTPQULSTJSUDSQNPSUHNSGRULTMMTUBTPLSOTU UKSR CROOQUJRNSJQURMUJNTLSOQNTUHNQJTLTPOTUQUKINNQ? DRPOTA 1RGTESRU3TNGTFUM U.(UGRNEQU./2. - B 29&A@9?;A@B A26A&A?;A@ ' =5=7U8)85' =79=U=""7 =1=;#= ;**=)7U,=U*89,=3;U,=U 89=U =""7 =1=U = 97#;3=U 8 U;#3U0 (U57"";U+U5 5 )=U#89,8U9737U 54TUSMU SILSJTULTMM>8KTJIESQPTFUPTMMRU 1;@8>62;?B>7>82:A)?BA55@.A=A?;>B 9 #/ 3#B! < JQPU QNLSPRPERU TGTKKRU RMM>ILSTPERU LTM 22A/2A./2.FU 4RU LSKHQKOQU MRU BTPLSORU JQPU SP? JRPOQUSPUIPUIPSJQUMQOOQUUPTMMQUKOROQULSUCROOQUT LSULSNSOOQUSPUJISUKSUONQBRUHTNUSMU/ A/ A./2.:
?U B+@96@B;27:A8@B7A:@BA9B?,;@B6>= @529>B6AB ?82;7@<B=@8?=A: B A?9@B6>==?
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
J4TU R@@SRU M>TKJMIKSBRU CRJQMO<U LSU CQNGIMRNT TBTPOIRMSUQCCTNOTUSPURIGTPOQ: PQPUKRN<UHQKKS@SMTUONRKCTNSNTUM>SGGQ@SMTURUKQD? DTOOQU LSBTNKQU LRU 6ITMMQU J4TU KQOOQKJNSBT M>SKORPER: RMM>SKORPERULSUHRNOTJSHRESQPTULTBTUTKKTNTURM? MTDRORUJQHSRULSUBRMSLQULQJIGTPOQULSUSLTPOSO< LTMUJQPJQNNTPOTUTFUKTUPTJTKKRNSQFUBRMSLRULQ? JIGTPORESQPTUJQGHNQBRPOTUSUHQOTNSUQUMRUMTDSO? OSGRESQPTU LTMMQU KOTKKQU %RLU TKAU HNQJINR KHTJSRMTUQUJTNOSCSJROQUJRGTNRMTUSPUJRKQULSUKQ? JSTO<&: JQPUM>SKORPERULSUHRNOTJSHRESQPTFULRUHNTKTP? ORNKSUSPU@IKORUJ4SIKRFUKTPERUKTDPSULSUNSJQPQ? KJSGTPOQFULTBTUTKKTNTULTHQKSOROQURKKTDPQ JSNJQMRNTUPQPUONRKCTNS@SMTFUSPOTKOROQURMMTU QKOT =ORMSRPTUKAHARA FUONRGSOTUJISUTCCTOOIRNTUSMUBTNKR? GTPOQULTMMRUJRIESQPTU%TLUSPUJQPOQUHNTEEQULS RDDSILSJRESQPT&FUSPUNRDSQPTULSUIPULTJSGQULTM HNTEEQU@RKTUL>RKOR: RMM!TKOTNPQULTMMRU@IKORUBRPPQURPPQOROSFURUJINR LTMU JRPJTMMSTNTU NSJTBTPOTFU SMU PQGTFU HNTBSR SLTPOSCSJRESQPTFU LSU J4SU GROTNSRMGTPOTU HNQB? BTLTURMULTHQKSOQFUSMUPQGTULTMUDSILSJTULTMM!TKT? JIESQPTUTUMRULRORULTMM!ILSTPERUCSKKRORUHTNUMR BTPLSORURMM>SPJRPOQ: MTU@IKOTUKRNRPPQURHTNOTURMM!ILSTPERUKOR@SMSOR HTNUM>SPJRPOQURMMRUHNTKTPERULTDMSUSKORPOSFUMRUJIS JQGHRNSESQPTU$UPTJTKKRNSRURSUCSPSULTMM>RDDSI? LSJRESQPTFUJ4TUKRN<ULSKHQKORUKTJQPLQUMTUHNT? KJNSESQPSU LTMM>RNOAU 0 2U JAHAJA:U MRU GRPJROR HRNOTJSHRESQPTURMM>SPJRPOQFUHTNKQPRMGTPOTUQ RUGTEEQULSUHNQJINROQNTUKHTJSRMTFUKTPERULQ? JIGTPOROQUTUDSIKOSCSJROQUGQOSBQFUJQGHQNOTN< M>SPJRGTNRGTPOQULSU2 2/ULTMMRUJRIESQPTFUJ4TF LSU JQPONQFU KRN<U SGGTLSRORGTPOTU NTKOSOISOR LQHQUMRUJ4SIKINRULTMM>SPJRPOQFUQBTUM>QCCTNTPOTF NTDQMRNGTPOTUHNTKTPOTFUPQPULSBTPDRURDDSI? LSJRORNSQ:PTMUJRKQULSUIPRUKQMRUSKORPERULSUHRN? OTJSHRESQPTFUQJJQNNTN<UJQGIP6ITURHHQNORNT IPUNSRMEQUGSPSGQFUT URNOAU0 2FUJQGGRU.FUHTN JQPKTDISNTUM>RDDSILSJRESQPTUHNQBBSKQNSR: RUPQNGRULTMM>RNOAU0 UJAHAJAFUSPCROOSFURBBTPIOQ M>SPJRPOQFUHQKKQPQUTKKTNTUHNTKTPOROTUQCCTNOT LSURJ6ISKOQUTPONQUSMUOTNGSPTUHTNTPOQNSQULSULSTJS DSQNPSULRMMRUDRNRFUGRUTKKTUPQPUKQPQUTCCSJRJS KTUSMUHNTEEQUQCCTNOQUPQPUKIHTNRULSU2 0U6ITMMQ NRDDSIPOQUPTMM>SPJRPOQ:UM>RDDSILSJRESQPTFUHTN? ORPOQFU LSBTNN<U LTCSPSOSBRU QBTFU LTJQNKSU LSTJS DSQNPSFUPQPUKSRPQUKOROTUHNTKTPOROTUQCCTNOTUSP RIGTPOQ: ORMSUQCCTNOTUHQONRPPQUTKKTNTULTHQKSOROTUHNTKKQ MRU5RPJTMMTNSRFUPTMMTUCQNGTULSUJISURMM>RNOAU0-2 JAHAJAFUHNTKORPLQUJRIESQPTUHTNUIPRUKQGGR HRNSURMULQHHSQULTMMRUJRIESQPTUBTNKRORUHTNUMR HRNOTJSHRESQPTURMM>SPJRPOQAU=PUJRKQULSUHNTKTP? ORESQPTULSUORMSUQCCTNOTFUBTNN<USPLTOORUIPRUDRNR KTJQPLQUMTUHNTBSKSQPSULSUJISURMM>RNOAU0 UJAHAJAA )TUPTKKIPQULTDMSUQCCTNTPOSUSPURIGTPOQUHRNOT? JSHRURMMRUDRNRUSPLTOORURUPQNGRULTMM>RNOAU0 F JQGGRU+FUJAHAJAFUM>RDDSILSJRESQPTULSBTPORULT? CSPSOSBRUTUBTNN<UHNQPIPJSRORURUJRNSJQULTDMSUQC? CTNTPOSU%KRMBQUJ4TUNSJQNNRUIPULQJIGTPOROQUT DSIKOSCSJROQUGQOSBQ&UMRUHTNLSORULTMMRUJRIESQPTF SMUJISUSGHQNOQU$UONROOTPIOQUJQGTUNSPBTPSTPOTUR OIOOSUDMSUTCCTOOSULRMM>TKTJIESQPT:U SPUQDPSUJRKQFUMTUKHTKTULTMUONRKCTNSGTPOQUJT? LQPQURUJRNSJQULTMM>RDDSILSJRORNSQFUJISUNTKORPQ NSKTNBROTUMTUROOSBSO<UTLUSUJQKOSUHTNUMRUNTDSKONR? ESQPTUTUONRKJNSESQPTULTMULTJNTOQUPQPJ4 UHTN MRUJRPJTMMRESQPTULTMMTUCQNGRMSO<UHNTDSILSEST? BQMSUDNRBRPOSUKIDMSUSGGQ@SMSURJ6ISKOROS: $UHQKKS@SMTFUHTNUSUHRNOTJSHRPOSURMMTURKOTFUQOOT? PTNTUGIOISURUORKKSUTUJQPLSESQPSUTJQPQGSJ4T HNTKOR@SMSOSULRUQDPSUKSPDQMRU@RPJRURLTNTPOT HNQOQJQMMQU ; = UHTNUMRUJQPJTKKSQPTULSUGIOIS RDMSURDDSILSJRORNS:M>TMTPJQULTMMTU@RPJ4TURLT? NTPOSURMM>SPSESROSBRUHTNUSMU3NS@IPRMTULSU1RGTESR 3TNGTU$UNTHTNS@SMTUHNTKKQUMRU5RPJTMMTNSR:U $UCSKKROQFUHTNUMRUHNTKTPORESQPTUHNTKKQUMRU5RP? JTMMTNSRULTMMTU8KTJIESQPSU=GGQ@SMSRNSULTMMTUQC? CTNOTU LSU RJ6ISKOQFU T U RNOAU 0-2U JAHAJAFU LTM JQGHTPLSQUSGGQ@SMSRNTUKQHNRUSPLSJROQUTUGT? DMSQULTKJNSOOQUPTMMRUNTMRESQPTULTMM>TKHTNOQUSP ROOSFURMMRU6IRMTUKSUCRUTKHNTKKQUNSJ4SRGQFU6IRMT HRNOTUSPOTDNRPOTUTUKQKORPESRMTULTMMRUHNTKTPOT RBBSKQFU OTNGSPTU CSPQU RMMTU QNTU 2+A//U LTM /0A/ A./2.FUJQPUMTUGQLRMSO<UTUHTNUSMUHNTEEQ @RKTULSUJISUKQHNR: $UCSKKRORFUHTNUM>TKRGTULTMMTUQCCTNOTULSURJ6IS? KOQFURSUKTPKSULTMM>RNOAU0-.UJAHAJAFUQBBTNQUHTNUMR DRNRU KIMMTU GTLTKSGTFU KTU HNTKTPOROTU SPU GS? KINRUKIHTNSQNTURLUIPRFURSUKTPKSULTMM>RNOAU0-+ JAHAJAFUM>ILSTPERULTMU3*43*4(3/(<B@;>B%<03B> 7>,,4: 1;U*89,=3;U;**=898U;118U)8 '893=U 579,= =79=F)=;U ';17#;U*=U)=U ;55=; 1'7 7U)89 ;U=95;937FU)=;U ';17#; *=U)=U ;55=;U1'7 7U579U=95;937 DMSU SGGQ@SMSU BTPDQPQU HQKOSU SPU BTPLSORU PTMMQ KOROQULSUCROOQUTULSULSNSOOQUSPUJISUKSUONQBRPQFUJQK JQGTU SLTPOSCSJROSFU LTKJNSOOSU TU BRMIOROSU LRM? M>TKHTNOQUPTMMRUNTMRESQPTFUJQPUQDPSUTBTPOIRMT KTNBSO UROOSBRUTUHRKKSBRUSPTNTPOTUTU6IQOTUJQP? LQGSPSRMSUNTMROSBT: MRUBTPLSORU$URUJQNHQUTUPQPURUGSKINR:UTBTPOIRMS LSCCTNTPETULSUGSKINRUPQPUHQONRPPQULRNUMIQDQ
RLURMJIPUNSKRNJSGTPOQFUSPLTPPSO<UQUNSLIESQPT LTMUHNTEEQ:UMRUBTPLSORUCQNERORUPQPU$UKQDDTOOR RMMTUPQNGTUJQPJTNPTPOSUMRUDRNRPESRUHTNUBSESUQ GRPJRPERULSU6IRMSO<FUP UHQON<UTKKTNTUNTBQ? JRORUHTNURMJIPUGQOSBQAU5QPKTDITPOTGTPOT M>TKSKOTPERU LSU TBTPOIRMSU BSESFU GRPJRPERU LS 6IRMSO<UQULSCCQNGSO<ULTMMRUJQKRUBTPLIORFUQPTNS LSU6IRMKSRKSUDTPTNTU?USBSUJQGHNTKSFURLUTKTG? HSQFU6ITMMSUIN@RPSKOSJSUQBBTNQULTNSBRPOSULRMMR TBTPOIRMTUPTJTKKSO<ULSURLTDIRGTPOQULSUSG? HSRPOSURMMTUMTDDSUBSDTPOSFUKHTKTUJQPLQGSPSRMS LTMM>RPPQU SPU JQNKQU TU LTMM>RPPQU HNTJTLTPOT PQPUHRDROTULRMULT@SOQNTU?UHTNU6IRMKSRKSUGQ? OSBQUPQPUJQPKSLTNROSFURPJ4TUKTUQJJIMOSUTUJQ? GIP6ITU PQPU TBSLTPESROSU SPU HTNSESRFU PQP HQONRPPQULRNUMIQDQURLURMJIPUNSKRNJSGTPOQFUSP? LTPPSO<UQUNSLIESQPTULTMUHNTEEQFUTKKTPLQKSULS JS UOTPIOQUJQPOQUPTMMRUBRMIORESQPTULTSU@TPS: M>RDDSILSJRORNSQULQBN<UBTNKRNTUMRULSCCTNTPER LTMUHNTEEQU%LTONROORULRMUHNTEEQULSURDDSILSJR? ESQPTUMRUJRIESQPTULSUJISUKQHNR&UTPONQUIPUOTN? GSPTUGRKKSGQULSUKTKKRPORUDSQNPSULRMMRULROR LSURDDSILSJRESQPTUGTLSRPOTURKKTDPQUJSNJQ? MRNTUPQPUONRKCTNS@SMTUSPOTKOROQURU QKOTU=ORMSRPT KAHARA U%6IRMQNRUSMUHNQJTLSGTPOQUKSUCQPLSUKI JNTLSOQU CQPLSRNSQU TU M>RDDSILSJRORNSQU PQPU SP? OTPLRURBBRMTNKSULTMMRUCRJQMO<ULSUKI@TPONRNTUPTM JQPONROOQFU RMM>RKKTDPQU JSNJQMRNTU KRN<U KQKOS? OISOQFUT URNOAU 2FUJQGGRU FU,A1DKAU2UKTOOTG? @NTU 2((+FU PAU + 0FU SMU HRDRGTPOQU LSNTOOQU RMMR @RPJRUJNTLSONSJTFUPTSUMSGSOSULTMUJNTLSOQURESQPROQ HTNUJRHSORMTFUSPOTNTKKSUTUKHTKTUJQPUJQMMQJR? ESQPTUHNSBSMTDSRORFUTPONQUMQUKOTKKQUOTNGSPTUT LTONROOQUIPURJJRPOQPRGTPOQUHTNUKHTKTUPTMMR GSKINRUJ4TUKRN<USPLSJRORULRMUDATA&:USPUGRP? JRPERFU KSU HNQBBTLTN<U RU LSJ4SRNRNTU MRU LTJR? LTPERULRMM>RDDSILSJRESQPTFURUPQNGRULTMM>RNOA 0 -UJAHAJA: KQMORPOQU RMM>TKSOQU LTDMSU RLTGHSGTPOSU HNTJT? LTPOSFULTMMRUHNQLIESQPTULSURDDSQNPROSUJTNOSCSJROS JRORKORMSUTULSURDDSQNPROSUJTNOSCSJROSUNTMROSBSURMMT SKJNSESQPSU TU ONRKJNSESQPSU TCCTOOIROTU KIMU @TPT PQPJ4 ULTMUHRDRGTPOQULTMMTUKHTKTULSUONRKCT? NSGTPOQFU LRU TCCTOOIRNKSU JQPOTKOIRMGTPOTU R 6ITMMQULTMMRULSCCTNTPERULTMUHNTEEQULSURDDSILS? JRESQPTFU PTMMRU GSKINRU LTMU ./ U LSU 6ITKO>IM? OSGQFUKRN<UTGTKKQUSMULTJNTOQULSUONRKCTNSGTPOQF RSUKTPKSULTMM>RNOAU0 UJAHAJA:
';937U;11;U ' 1=5=3 U=9U '9 =798U,811;U*89,=3; KIUSGHIMKQULTMUHNQJTLTPOTFUKSRUHNTLSKHQKOQ M>RBBSKQU LSU BTPLSORFU LRU HI@@MSJRNTU RMM>RM@Q LTMM>'CCSJSQ: RUJINRFUNSKJ4SQUTUKHTKTU%NSG@QNKR@SMSUT URNOA .--/UJQLAUJSBA&ULTMUGTLTKSGQUKQDDTOOQFUKSR LRORUHI@@MSJSO< SPUQDPSUJRKQFUHTNUIPRUKQMRUBQMORFULTMUHNTKTPOT RBBSKQFUKIULSUIPU6IQOSLSRPQULSUSPCQNGRESQPTUR LSCCIKSQPTUMQJRMTURUKJTMORULTMUJNTLSOQNTFUHI@? @MSJSO<ULRUTCCTOOIRNKSURMGTPQU6IRNRPORJSP6IT DSQNPSUHNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPT LTMMTUQCCTNOTUQULTMMRULRORULTMM!SPJRPOQ: SPUQDPSUJRKQFUHTNUIPRUKQMRUBQMORFULTMUHNTKTPOT RBBSKQFUKIUIPRUNSBSKORUHTNSQLSJRFUHI@@MSJSO<ULR TCCTOOIRNKSU RMGTPQU 6IRNRPORJSP6ITU DSQNPS HNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPTULTMMT QCCTNOTUQULTMMRULRORULTMM!SPJRPOQ: SPUQDPSUJRKQFUHTNUIPRUKQMRUBQMORFULTMUHNTKTPOT RBBSKQFUTULTMMRUNTMRESQPTULSUKOSGRULTMM>TKHTNOQ KIUIPUKSOQU=POTNPTOUSPLSBSLIROQURSUKTPKSULTMM>RNOA 2-+UOTNULSKHAUROOAUJAHAJAUTULSUJISU$ULRORUPQOSESR SPU5RPJTMMTNSRFURMGTPQU6IRNRPORJSP6ITUDSQNPS HNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPTULTMMT QCCTNOTUQULTMMRULRORULTMM>SPJRPOQ: SMUJNTLSOQNTUHNQJTLTPOTUHI FUSPQMONTFULRNTUHI@? @MSJSO<ULTMMRUHNTKTPOTUQNLSPRPERFURUKIRUJINR TLUQBTUMQUNSOTPDRUQHHQNOIPQ RUKITUKHTKTU%NSG@QNKR@SMSUT URNOAU.--/UJQLA JSBA&FUJQPUHI@@MSJSO<UGINRNSRFULRUTCCTOOIRNKSUPTS 5QGIPSU LSU 1RGTESRU3TNGTU TU LSU I@SJRESQPT LTDMSUSGGQ@SMSFURMGTPQU6IRNRPORJSP6ITUDSQNPS HNSGRULTMUOTNGSPTUHTNUMRUHNTKTPORESQPTULTMMT QCCTNOTUQULTMMRULRORULTMM!SPJRPOQ: RUKITUKHTKTU%NSG@QNKR@SMSUT URNOAU.--/UJQLA JSBA&FURUIMOTNSQNSUCQNGTULSUHI@@MSJSO<ULRMUGTLT? KSGQUHNTKJTMOTFULRUTKTDISNKSURMGTPQU6IRNRP? ORJSP6ITU DSQNPSU HNSGRU LTMU OTNGSPTU HTNU MR HNTKTPORESQPTULTMMTUQCCTNOTUQULTMMRULRORULTM? M!SPJRPOQ: MRU HI@@MSJSO<U GINRNSRU TU M>IMOTNSQNTU HI@@MSJSO< HNTKJTMORUKQPQULSJ4SRNROTUKSPUL>QNRUPQPUPT? JTKKRNSTURSUCSPSULTMM>TKHTNS@SMSO<ULTMMRUBTPLSOR:U
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
?99>==A<B)A?=>B!2.>::A9@B940<B1A?9@B1;A5@< 8@51@7:@B6?B29BA9,;>77@$8@;;A6@A@<B7?$ =@9><B828A9?<B7:?9&?B6?B=>::@<B8?5>;?B6? =>::@B5?:;A5@9A?=><B.?,9@<B@=:;>B.?=8@9>< 1>;B 29?B 721>;+A8A>B 8@55>;8A?=>B 6AB 5 4 /3/<334B A55@.A=><B 8?;?::>;A&&?:@B 6?B ?=$ 829>B6A++@;5A: B>6A=A&A><B7?9?.A=AB?=B8@7:@ 6ABB B'/*<33<B B;A1@;:?:@B9>=B" B6AB6>::@ 8@529>B?=B+@,=A@B/0<B14==?B/*#<B72.B0%B8?:4 0<B 8=?77>B 0<B )?9AB '<'B U ('40/(<'34 )=U#89,8U;957#;U9737U5 8U=1U 8U ; )3; =1=37U5 8U1;U*89,=3;U;**=898U ;118U)8 '893=U579,= =79= *89,=3;UU579U=95;937 TKKRULTBTURBTNUMIQDQURMUHNTEEQU@RKTULSUTINQ .0A+2.F0/UHTNUSMUMQOOQUIPSJQ:UU MTUQCCTNOTUSPURIGTPOQFURUHTPRULSUSPRGGSKKS@S? MSO<FU PQPU LTBQPQU TKKTNTU SPCTNSQNSU RMU + U LTM HNTEEQU@RKTUL>RKOR:U QDPIPQFU RSU KTPKSU LTMM>RNOAU 0-(FU JQGGRU 2F JAHAJAFUONRPPTUSMULT@SOQNTFU$URGGTKKQURUCQNGI? MRNTU QCCTNOTU RMM>SPJRPOQU HTNKQPRMGTPOTFU R GTEEQULSUGRPLRORNSQUGIPSOQULSUHNQJINRUKHT? JSRMTUQULSUHNQJINROQNTUMTDRMTFURPJ4TURUPQNGR LTMM>RNOAU0-(FUJQGGRU+FUJAHAJAU%SMUHNQJINROQNT MTDRMTULQBN<FUSPUQDPSUJRKQFUTKKTNTUGIPSOQULS GRPLROQUKHTJSRMTUNSKIMORPOTULRUROOQUHI@@MSJQ QUKJNSOOINRUHNSBRORURIOTPOSJRORFUPQPUTKKTPLQ KICCSJSTPOTU M>QNLSPRNSQU GRPLROQU RMMTU MSOS:U PTM? M>SHQOTKSULSUJISURMUJSOROQURNOAU0-(FUJQGGRU+FUSM GRPLROQUKHTJSRMTUNSKIMORPOTULRUROOQUHI@@MSJQ QUKJNSOOINRUHNSBRORURIOTPOSJRORULQBN<UTKKTNT LTHQKSOROQU JQPOTKOIRMGTPOTU RMMRU LSJ4SRNR? ESQPTULTMUPQGSPROSBQULTMMRUHTNKQPRFULRUTCCTO? OIRNKSUPTMUOTNGSPTULSUJISURMM>RNOAU0 +FUJQGGR 2FUJAHAJA& QDPSUJQPJQNNTPOTFUHTNUTKKTNTURGGTKKQURMM>SP? JRPOQFULTBTUHNTKTPORNTUSKORPERULSUHRNOTJSHR? ESQPTFUSPUNTDQMRUJQPUSMU@QMMQFUNTJRPOTFURUHTPR LSU SPTCCSJRJSRFU M!SPLSJRESQPTU LTMU PIGTNQU LS NADATAU LTMMRU HNQJTLINRFU SMU @TPTU QU SMU MQOOQU JIS M>SKORPERUKOTKKRU$UNSCTNSORFUSMUHNTEEQUHNQHQKOQF MTUHNQHNSTUDTPTNRMSO<U%PQGTFUJQDPQGTFUMIQDQ TU LRORU LSU PRKJSORFU JQLSJTU CSKJRMTF NTKSLTPER LQGSJSMSQFUKOROQUJSBSMTUTFUKTUJQPSI? DROQFU NTDSGTU HRONSGQPSRMTU CNRU SU JQPSIDS:U SP JRKQULSUJQGIPSQPTUMTDRMTULTSU@TPSFUQJJQNNTN< SPLSJRNTURPJ4TUMTUDTPTNRMSO<ULTMUJQPSIDTUPQP QCCTNTPOTFU RMU CSPTU LSU HQOTNU ONRKCTNSNTU RLU TP? ONRG@SFUHNQU6IQORFUSMU@TPTFUSPUJRKQULSURDDSILS? JRESQPT:U PTMM>SHQOTKSU LSU RJ6ISKOQU RU OSOQMQ HTNKQPRMTULRUHRNOTULSUIPUJQPSIDTUSPUNTDSGT LSU JQGIPSQPTU LTSU @TPSFU QJJQNNTU HNQLINNTF QMONTURMMRULSJ4SRNRESQPTULSU6ITKO>IMOSGQFUT URNOA 2-(FUJQGGRU2FUMTOOAUCFUJQLAUJSBAFU6ITMMRULTMUJQ? PSIDTU PQPU RJ6ISNTPOTU LSU JISU RMU KTJQPLQ JQGGRULTMMRUGTLTKSGRULSKHQKSESQPTUPQNGR? OSBR&FUM>TKHNTKKRULSJ4SRNRESQPTULSURBTNUHNTKQ BSKSQPTULTMMRUHTNSESRULSUKOSGR: M>SKORPERFUPTMUJRKQULSUHNTKTPORESQPTULRUHRNOT LSU IPU GSPQNTPPTFU LQBN<U TKKTNTU KQOOQKJNSOOR LRSUDTPSOQNSFUHNTBSRURIOQNSEERESQPTULTMUDSILSJT OIOTMRNTFULRULTHQKSORNTUSPUJQHSRUJQPCQNGT: SPUJRKQULSUSKORPERUHNTKTPORORUJQPDSIPORGTPOT LRUHS UKQDDTOOSFULTBTUTKKTNTUSPLSJROQUJQMIS J4TU R@@SRU M>TKJMIKSBRU CRJQMO<U LSU CQNGIMRNT TBTPOIRMSUQCCTNOTUSPURIGTPOQ: PQPUKRN<UHQKKS@SMTUONRKCTNSNTUM>SGGQ@SMTURUKQD? DTOOQU LSBTNKQU LRU 6ITMMQU J4TU KQOOQKJNSBT M>SKORPER: RMM>SKORPERULSUHRNOTJSHRESQPTULTBTUTKKTNTURM? MTDRORUJQHSRULSUBRMSLQULQJIGTPOQULSUSLTPOSO< LTMUJQPJQNNTPOTUTFUKTUPTJTKKRNSQFUBRMSLRULQ? JIGTPORESQPTUJQGHNQBRPOTUSUHQOTNSUQUMRUMTDSO? OSGRESQPTU LTMMQU KOTKKQU %RLU TKAU HNQJINR KHTJSRMTUQUJTNOSCSJROQUJRGTNRMTUSPUJRKQULSUKQ? JSTO<&: JQPUM>SKORPERULSUHRNOTJSHRESQPTFULRUHNTKTP? ORNKSUSPU@IKORUJ4SIKRFUKTPERUKTDPSULSUNSJQPQ? KJSGTPOQFULTBTUTKKTNTULTHQKSOROQURKKTDPQ JSNJQMRNTUPQPUONRKCTNS@SMTFUSPOTKOROQURMMTU QKOT =ORMSRPTUKAHARA FUONRGSOTUJISUTCCTOOIRNTUSMUBTNKR?
ERNLOSJRMMPSHPFCQONRS%RJSQNSHONLOSGKRCCOSJQ PBBQFJQHPCQONR(DSQNSKPBQONRSJQSFNSJRHQEOSJRM GKRCCOS=PIRSJ>PILP9 PMM RILRKNOSJRMMPS=FILPSAPNNOSPNNOLPLQDSPSHFKP JRMS HPNHRMMQRKRS KQHRARNLRDS QMS NOERDS GKRAQP QJRNLQ@QHPCQONRDS JQS H1QS EPLRKQPMERNLRS GKOA< ARJRSPMSJRGOIQLODSQMSNOERSJRMSBQFJQHRSJRMM RIR< HFCQONRSRSMPSJPLPSJRMM FJQRNCPS@QIIPLPSGRKSMP ARNJQLPSPMM>QNHPNLO9 MRS=FILRSIPKPNNOSPGRKLRSPMM FJQRNCPSILP=QMQLP GRKSM>QNHPNLOSPMMPSGKRIRNCPSJRBMQSQILPNLQDSMPSHFQ HOEGPKQCQONRS'SNRHRIIPKQPSPQS@QNQSJRMM>PBBQF< JQHPCQONRDSH1RSIPK8SJQIGOILPSIRHONJOSMRSGKR< IHKQCQONQS JRMM>PKL?S /#.S H?G?H?9S MPS EPNHPLP GPKLRHQGPCQONRSPMM>QNHPNLODSGRKIONPMERNLRSO PSERCCOSJQSGKOHFKPLOKRSIGRHQPMRDSIRNCPSJO< HFERNLPLOSRSBQFILQ@QHPLOSEOLQAODSHOEGOKLRK8 M>QNHPERKPERNLOSJQS. .6SJRMMPSHPFCQONRDSH1RD JQS HONLKODS IPK8S QEERJQPLPERNLRS KRILQLFQLP JOGOSMPSH1QFIFKPSJRMM>QNHPNLODSOARSM>O@@RKRNLRD KRBOMPKERNLRSGKRIRNLRDSNONSJQARNBPSPBBQF< JQHPLPKQO9NRMSHPIOSJQSFNPSIOMPSQILPNCPSJQSGPK< LRHQGPCQONRDSOHHOKKRK8SHOEFN4FRSPGGOKLPKR FNSKQPMCOSEQNQEODSR SPKL?S/#.DSHOEEPS-DSGRK HONIRBFQKRSM>PBBQFJQHPCQONRSGKOAAQIOKQP9 PSNOKEPSJRMM>PKL?S/# SH?G?H?DSQN@PLLQDSPAARNFLO M>QNHPNLODSGOIIONOSRIIRKRSGKRIRNLPLRSO@@RKLR JQSPH4FQILOSRNLKOSQMSLRKEQNRSGRKRNLOKQOSJQSJQRHQ BQOKNQSJPMMPSBPKPDSEPSRIIRSNONSIONOSR@@QHPHQ IRSQMSGKRCCOSO@@RKLOSNONSIFGRKPSJQS. /S4FRMMO KPBBQFNLOSNRMM>QNHPNLO9SM>PBBQFJQHPCQONRDSGRK< LPNLODS JQARKK8S JR@QNQLQAPS OARDS JRHOKIQS JQRHQ BQOKNQDSNONSIQPNOSILPLRSGKRIRNLPLRSO@@RKLRSQN PFERNLO9 PMQSO@@RKLRSGOLKPNNOSRIIRKRSJRGOIQLPLRSGKRIIO MPS3PNHRMMRKQPDSNRMMRS@OKERSJQSHFQSPMM>PKL?S/). H?G?H?DSGKRILPNJOSHPFCQONRSGRKSFNPSIOEEP GPKQSPMSJOGGQOSJRMMPSHPFCQONRSARKIPLPSGRKSMP GPKLRHQGPCQONRSPMM>QNHPNLO?S;NSHPIOSJQSGKRIRN< LPCQONRSJQSLPMQSO@@RKLRDSARKK8SQNJRLLPSFNPSBPKP IRHONJOSMRSGKRAQIQONQSJQSHFQSPMM>PKL?S/# SH?G?H?? ,RSNRIIFNOSJRBMQSO@@RKRNLQSQNSPFERNLOSGPKLR< HQGPSPMMPSBPKPSQNJRLLPSPSNOKEPSJRMM>PKL?S/# D HOEEPS"DSH?G?H?DSM>PBBQFJQHPCQONRSJQARNLPSJR< @QNQLQAPSRSARKK8SGKONFNHQPLPSPSHPKQHOSJRBMQSO@< @RKRNLQS%IPMAOSH1RSKQHOKKPSFNSJOHFERNLPLOSR BQFILQ@QHPLOSEOLQAO(SMPSGRKJQLPSJRMMPSHPFCQONRD QMSHFQSQEGOKLOS'SLKPLLRNFLOSHOERSKQNARNQRNLRSP LFLLQSBMQSR@@RLLQSJPMM>RIRHFCQONR9S QNSOBNQSHPIODSMRSIGRIRSJRMSLKPI@RKQERNLOSHR< JONOSPSHPKQHOSJRMM>PBBQFJQHPLPKQODSHFQSKRILPNO KQIRKAPLRSMRSPLLQAQL8SRJSQSHOILQSGRKSMPSKRBQILKP< CQONRSRSLKPIHKQCQONRSJRMSJRHKRLOSNONH1 SGRK MPSHPNHRMMPCQONRSJRMMRS@OKEPMQL8SGKRBQFJQCQR< AOMQSBKPAPNLQSIFBMQSQEEO=QMQSPH4FQILPLQ9 'SGOIIQ=QMRDSGRKSQSGPKLRHQGPNLQSPMMRSPILRDSOLLR< NRKRSEFLFQSPSLPIIQSRSHONJQCQONQSRHONOEQH1R GKRILP=QMQLQSJPSOBNQSIQNBOMPS=PNHPSPJRKRNLR GKOLOHOMMOS : ; SGRKSMPSHONHRIIQONRSJQSEFLFQ PBMQSPBBQFJQHPLPKQ9M>RMRNHOSJRMMRS=PNH1RSPJR< KRNLQSPMM>QNQCQPLQAPSGRKSQMS+KQ=FNPMRSJQS5PERCQP +RKERS'SKRGRKQ=QMRSGKRIIOSMPS3PNHRMMRKQP9S 'S@QIIPLODSGRKSMPSGKRIRNLPCQONRSGKRIIOSMPS3PN< HRMMRKQPSJRMMRS2IRHFCQONQS;EEO=QMQPKQSJRMMRSO@< @RKLRS JQS PH4FQILODS R S PKL?S /).S H?G?H?DS JRM HOEGRNJQOSQEEO=QMQPKRSIOGKPSQNJQHPLOSRSER< BMQOSJRIHKQLLOSNRMMPSKRMPCQONRSJRMM>RIGRKLOSQN PLLQDSPMMPS4FPMRSIQS@PSRIGKRIIOSKQH1QPEODS4FPMR GPKLRSQNLRBKPNLRSRSIOILPNCQPMRSJRMMPSGKRIRNLR PAAQIODS LRKEQNRS @QNOS PMMRS OKRS ."?66S JRM 6/?6!?-6.-DSHONSMRSEOJPMQL8SRSGRKSQMSGKRCCO =PIRSJQSHFQSIOGKP9 'S@QIIPLPDSGRKSM>RIPERSJRMMRSO@@RKLRSJQSPH4FQ< ILODSPQSIRNIQSJRMM>PKL?S/)-SH?G?H?DSOAARKOSGRKSMP BPKPS IFMMRS ERJRIQERDS IRS GKRIRNLPLRS QNS EQ< IFKPSIFGRKQOKRSPJSFNPDSPQSIRNIQSJRMM>PKL?S/)" H?G?H?DSM>FJQRNCPSJRMS3#.3#.-3/-284058/-.3385 )5''. 5:S$27&;+:S:$$;272S:552S,2 *27+;S 307&; ;07;D,;:S *:50 :S$;S,;S :33;: 5*0 0S,27 :S;73:7+0DS,;:S *:50 : $;S,;S :33;:S5*0 0S307S;73:7+0 BMQS QEEO=QMQS ARNBONOS GOILQS QNS ARNJQLPS NRMMO ILPLOSJQS@PLLOSRSJQSJQKQLLOSQNSHFQSIQSLKOAPNODSHOI HOERS QJRNLQ@QHPLQDS JRIHKQLLQS RS APMFLPLQS JPM< M>RIGRKLOSNRMMPSKRMPCQONRDSHONSOBNQSRARNLFPMR IRKAQL SPLLQAPSRSGPIIQAPSQNRKRNLRSRS4FOLRSHON< JOEQNQPMQSKRMPLQAR9 MPSARNJQLPS'SPSHOKGOSRSNONSPSEQIFKP9SRARNLFPMQ JQ@@RKRNCRSJQSEQIFKPSNONSGOLKPNNOSJPKSMFOBO PJSPMHFNSKQIPKHQERNLODSQNJRNNQL8SOSKQJFCQONR JRMSGKRCCO9SMPSARNJQLPS@OKCPLPSNONS'SIOBBRLLP PMMRSNOKERSHONHRKNRNLQSMPSBPKPNCQPSGRKSAQCQSO EPNHPNCPSJQS4FPMQL8DSN SGOLK8SRIIRKRSKRAO< HPLPSGRKSPMHFNSEOLQAO?S3ONIRBFRNLRERNLR M>RIQILRNCPS JQS RARNLFPMQS AQCQDS EPNHPNCPS JQ 4FPMQL8SOSJQ@@OKEQL8SJRMMPSHOIPSARNJFLPDSONRKQ JQS4FPMIQPIQSBRNRKRS<SQAQSHOEGKRIQDSPJSRIRE< GQODS4FRMMQSFK=PNQILQHQSOAARKOSJRKQAPNLQSJPMMP RARNLFPMRSNRHRIIQL8SJQSPJRBFPERNLOSJQSQE< GQPNLQSPMMRSMRBBQSAQBRNLQDSIGRIRSHONJOEQNQPMQ JRMM>PNNOS QNS HOKIOS RS JRMM>PNNOS GKRHRJRNLR NONSGPBPLRSJPMSJR=QLOKRS<SGRKS4FPMIQPIQSEO< LQAOSNONSHONIQJRKPLQDSPNH1RSIRSOHHFMLQSRSHO< EFN4FRS NONS RAQJRNCQPLQS QNS GRKQCQPDS NON GOLKPNNOSJPKSMFOBOSPJSPMHFNSKQIPKHQERNLODSQN< JRNNQL8SOSKQJFCQONRSJRMSGKRCCODSRIIRNJOIQSJQ
HQ SLRNFLOSHONLOSNRMMPSAPMFLPCQONRSJRQS=RNQ9 M>PBBQFJQHPLPKQOSJOAK8SARKIPKRSMPSJQ@@RKRNCP JRMSGKRCCOS%JRLKPLLPSJPMSGKRCCOSJQSPBBQFJQHP< CQONRSMPSHPFCQONRSJQSHFQSIOGKP(SRNLKOSFNSLRK< EQNRSEPIIQEOSJQSIRIIPNLPSBQOKNQSJPMMPSJPLP JQSPBBQFJQHPCQONRSERJQPNLRSPIIRBNOSHQKHO< MPKRSNONSLKPI@RKQ=QMRSQNLRILPLOSPS OILRS;LPMQPNR I?G?P? S%4FPMOKPSQMSGKOHRJQERNLOSIQS@ONJQSIF HKRJQLOS @ONJQPKQOS RS M>PBBQFJQHPLPKQOS NONS QN< LRNJPSPAAPMRKIQSJRMMPS@PHOML8SJQSIF=RNLKPKRSNRM HONLKPLLODS PMM>PIIRBNOS HQKHOMPKRS IPK8S IOILQ< LFQLODSR SPKL?S .DSHOEEPS DS&?5BI?S.SIRLLRE< =KRS . "DS N?S "#/DS QMS GPBPERNLOS JQKRLLOS PMMP =PNHPSHKRJQLKQHRDSNRQSMQEQLQSJRMSHKRJQLOSPCQONPLO GRKSHPGQLPMRDSQNLRKRIIQSRSIGRIRSHONSHOMMOHP< CQONRSGKQAQMRBQPLPDSRNLKOSMOSILRIIOSLRKEQNRSR JRLKPLLOSFNSPHHPNLONPERNLOSGRKSIGRIRSNRMMP EQIFKPSH1RSIPK8SQNJQHPLPSJPMSB?R?(9SQNSEPN< HPNCPDS IQS GKOAARJRK8S PS JQH1QPKPKRS MPS JRHP< JRNCPSJPMM>PBBQFJQHPCQONRDSPSNOKEPSJRMM>PKL? /#)SH?G?H?9 IOMLPNLOS PMM>RIQLOS JRBMQS PJREGQERNLQS GKRHR< JRNLQDSJRMMPSGKOJFCQONRSJQSPBBQOKNPLQSHRKLQ@QHPLQ HPLPILPMQSRSJQSPBBQOKNPLQSHRKLQ@QHPLQSKRMPLQAQSPMMR QIHKQCQONQS RS LKPIHKQCQONQS R@@RLLFPLRS IFMS =RNR NONH1 SJRMSGPBPERNLOSJRMMRSIGRIRSJQSLKPI@R< KQERNLODS JPS R@@RLLFPKIQS HONLRILFPMERNLRS P 4FRMMOSJRMMPSJQ@@RKRNCPSJRMSGKRCCOSJQSPBBQFJQ< HPCQONRDS NRMMPS EQIFKPS JRMS -6 S JQS 4FRIL>FM< LQEODSIPK8SRERIIOSQMSJRHKRLOSJQSLKPI@RKQERNLOD PQSIRNIQSJRMM>PKL?S/#!SH?G?H?9 *:7+0S:55:S * 5;3;+ S;7S *7 ;072S&255:S$27&;+: IFSQEGFMIOSJRMSGKOHRJRNLRDSIQPSGKRJQIGOILO M>PAAQIOS JQS ARNJQLPDS JPS GF==MQHPKRS PMM>PM=O JRMM>*@@QHQO9 PSHFKPDSKQIH1QOSRSIGRIRS%KQE=OKIP=QMQSR SPKL? -))6SHOJ?SHQA?(SJRMSERJRIQEOSIOBBRLLODSIQP JPLPSGF==MQHQL8 QNSOBNQSHPIODSGRKSFNPSIOMPSAOMLPDSJRMSGKRIRNLR PAAQIODSIFSJQSFNS4FOLQJQPNOSJQSQN@OKEPCQONRSP JQ@@FIQONRSMOHPMRSPSIHRMLPSJRMSHKRJQLOKRDSGF=< =MQHQL8SJPSR@@RLLFPKIQSPMERNOS4FPKPNLPHQN4FR BQOKNQSGKQEPSJRMSLRKEQNRSGRKSMPSGKRIRNLPCQONR JRMMRSO@@RKLRSOSJRMMPSJPLPSJRMM QNHPNLO9 QNSOBNQSHPIODSGRKSFNPSIOMPSAOMLPDSJRMSGKRIRNLR PAAQIODSIFSFNPSKQAQILPSGRKQOJQHPDSGF==MQHQL8SJP R@@RLLFPKIQS PMERNOS 4FPKPNLPHQN4FRS BQOKNQ GKQEPSJRMSLRKEQNRSGRKSMPSGKRIRNLPCQONRSJRMMR O@@RKLRSOSJRMMPSJPLPSJRMM QNHPNLO9 QNSOBNQSHPIODSGRKSFNPSIOMPSAOMLPDSJRMSGKRIRNLR PAAQIODSRSJRMMPSKRMPCQONRSJQSILQEPSJRMM>RIGRKLO IFSFNSIQLOS;NLRKNRLSQNJQAQJFPLOSPQSIRNIQSJRMM>PKL? .)"SLRKSJQIG?SPLL?SH?G?H?SRSJQSHFQS'SJPLPSNOLQCQP QNS3PNHRMMRKQPDSPMERNOS4FPKPNLPHQN4FRSBQOKNQ GKQEPSJRMSLRKEQNRSGRKSMPSGKRIRNLPCQONRSJRMMR O@@RKLRSOSJRMMPSJPLPSJRMM>QNHPNLO9 QMSHKRJQLOKRSGKOHRJRNLRSGF DSQNOMLKRDSJPKRSGF=< =MQHQL8SJRMMPSGKRIRNLRSOKJQNPNCPDSPSIFPSHFKP RJSOARSMOSKQLRNBPSOGGOKLFNO PSIFRSIGRIRS%KQE=OKIP=QMQSR SPKL?S-))6SHOJ? HQA?(DSHONSGF==MQHQL8SEFKPKQPDSJPSR@@RLLFPKIQSNRQ 3OEFNQS JQS 5PERCQPS+RKERS RS JQS F=QHPCQONR JRBMQSQEEO=QMQDSPMERNOS4FPKPNLPHQN4FRSBQOKNQ GKQEPSJRMSLRKEQNRSGRKSMPSGKRIRNLPCQONRSJRMMR O@@RKLRSOSJRMMPSJPLPSJRMM QNHPNLO9 PSIFRSIGRIRS%KQE=OKIP=QMQSR SPKL?S-))6SHOJ? HQA?(DSPSFMLRKQOKQS@OKERSJQSGF==MQHQL8SJPMSERJR< IQEOSGKRIHRMLRDSJPSRIRBFQKIQSPMERNOS4FPKPN< LPHQN4FRS BQOKNQS GKQEPS JRMS LRKEQNRS GRKS MP GKRIRNLPCQONRSJRMMRSO@@RKLRSOSJRMMPSJPLPSJRM< M QNHPNLO9 MPS GF==MQHQL8S EFKPKQPS RS M>FMLRKQOKRS GF==MQHQL8 GKRIHRMLPSIONOSJQH1QPKPLRSIQNSJ>OKPSNONSNR< HRIIPKQRSPQS@QNQSJRMM>RIGRKQ=QMQL8SJRMMPSARNJQLP9S JRMMPS GKOAPS JRMMPS GF==MQHQL8S RMRLLKONQHPS RS P ERCCOSILPEGPS SJPSJRGOIQLPKIQSQNSHPNHRMMRKQP PMERNOSJQRHQSBQOKNQSGKQEPSJRMMRSARNJQLRS SIQP @PLLOSHPKQHOSPMSHKRJQLOKRSGKOHRJRNLRSOSIFKKO< BPNLR? 5PERCQPS+RKERDSM S- SEPKCOS-6. ,8 +1 74160748 7+"7 76074
. .1 8/3/ -33 ;5S ;*&;32S&255>2,23* ;072 5RLLQSBMQSPLLQSJRMSGKOHRJQERNLOSRSIHQOMLPSMPSKQ< IRKAPS PIIFNLPS PMM>FJQRNCPS JRMS .6S @R==KPQO -6.69 KRIOSPLLOSJRMM>QILPNCPSJQSARNJQLPS@OKEFMPLP JPMSHKRJQLOKRSGKOHRJRNLR9 KQMRAPLOSH1RSHFILOJRSJRMS=RNRSGQBNOKPLOS'SQM JOLL?S P=QOS PIIQEQMQPNOS3PNCONQRKR9 HONIQJRKPLOSH1RSMPSNPLFKPSRSMPSJRILQNPCQONR JQSLPMRSHRIGQLRDSFNQLPERNLRSPBMQSRMRERNLQSGKO< =PLOKQSRSGKOHRIIFPMQSJPSHFQSGOLRKSRAQNHRKRSQM HONHKRLOSGRKQHOMOSJQSFNSJRLRKQOKPERNLOSJRM HRIGQLRSNRMMRSEOKRSJRMMPSJR@QNQCQONRSJRMMPSGKO< HRJFKPSJQSARNJQLPDSQNJFHONOSPSKQLRNRKRSH1RSMP IOILQLFCQONRSJRMSJR=QLOKRSHONSFNSLRKCOS4FPMR HFILOJRSBQFJQCQPKQOSIQPSPMMOSILPLODSQNJR@RLLQ=QMRD R SPKL?S// SH?G?H?DSHOERSNOARMMPLOSJPMMRSMRBBQ #6 -66/D-!" -66/S RS /. -66!DS @RKEOS KR< ILPNJOS M>O==MQBOS JRMMOS ILRIIOS JQS KRNJRKRS QM HONLOSJRMMPSBRILQONRDSR SPKLL?S/!6SRS/ "SH?G?H?9
KQLRNFLOS JQS GOLRKS HONJQAQJRKRS RS GKRNJRKRS P @ONJPERNLOSJRMSGKOIQRBFOSJRMMPSGKOHRJFKPSMR HONHMFIQONQSJRMMPSKRMPCQONRSJRMM>RIGRKLODSQNSOK< JQNRSIQPSPMMPSQNJQAQJFPCQONRSJRMSHOEGRNJQO QEEO=QMQPKRSH1RSPMMPSILQEPSJRMSKRMPLQAOSAPMOKR JQSERKHPLO9 KPAAQIPLRDSGRKLPNLODSMRSHONJQCQONQSGRKSGKOHR< JRKRDSPQSIRNIQSJRBMQSPKLL?S/! DS/).SRS/)!SH?G?H? HOERSNOARMMPLQSJPMMRSMRBBQS#6 -66/DS-!" -66/ RS/. -66!DSPMS JQ 5+048$$.3332332 PMMPSARNJQLPSHOPLLQAPSJRMSIRBFRNLRS=RNR
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
5BKIMEMLJKOEMOMJ=KGAL?MKJNOLOEM==BFMKJNOHKDLHN LOFDNHILOENHODGNEMIKGN@OCB::HMDMI6OELON==NIIBLGFM LHANJKO5BLGLJILDMJ5BNO>MKGJMOCGMALOENHOING9 AMJNO CNGO HLO CGNFNJIL?MKJNO ENHHNO K==NGINO K ENHHLOELILOENHH8MJDLJIK7 MJOK>JMODLFKO@OCNGOBJLOFKHLO<KHIL@OENHHLOCGN9 FNJINOKGEMJLJ?LO@ONFDHBFNOHNOJKIN@ONOENHHLOGN9 HL?MKJNOEMOFIMALOENHH8NFCNGIKOFBHOFMIKOMJINGJNI ;LFINMAAK:MHM;MIOOLHANJKO5BLGLJILDMJ5BN >MKGJMOCGMALOENHOINGAMJNOCNGOHLOCGNFNJIL?MKJN ENHHNOK==NGINOKOENHHLOELILOENHH8MJDLJIK7 MHODGNEMIKGNOCGKDNENJIN@OCKFFL@OMJKHIGN@OELGN CB::HMDMI6O ENHHLO CGNFNJINO KGEMJLJ?L@O LO FBL DBGLONEOK<NOHKOGMINJ>LOKCCKGIBJK O LOFBNOFCNFNO'GMA:KGFL:MHMON"OLGI;O-..1ODKE; DM<;*@ODKJOCB::HMDMI6OABGLGMLO@OELON==NIIBLGFM JNMO#KABJMOEMO LAN?MLO(NGANONOEMOB:MDL?MKJN EN>HMOMAAK:MHM@OLHANJKO5BLGLJILDMJ5BNO>MKGJM CGMALOENHOINGAMJNOCNGOHLOCGNFNJIL?MKJNOENHHN K==NGINOKOENHHLOELILOENHH8MJDLJIK7 LOFBNOFCNFNO'JKJOGMA:KGFL:MHMOJNCCBGNON"OLGI; -..1ODKE;ODM<;*@OLEOBJ8BHINGMKGNO=KGALOEMOCB:9 :HMDMI6OELHOANENFMAKOCGNFDNHIL@OELONFN>BMGFM LHANJKO5BLGLJILDMJ5BNO>MKGJMOCGMALOENHOING9 AMJNO CNGO HLO CGNFNJIL?MKJNO ENHHNO K==NGINO K ENHHLOELILOENHH8MJDLJIK7 HLO CB::HMDMI6O ABGLGMLO NO H8BHINGMKGNO CB::HMDMI6 CGNFDNHILOFKJKOEMD4MLGLINOFMJOELOKGLOJKJOJN9 DNFFLGMNOLMO=MJMOENHH8NFCNGM:MHMI6OENHHLO<NJEMIL7 ENHHLO CGK<LO ENHHLO CB::HMDMI6O NHNIIGKJMDLO NO L AN??KOFILACLO OELOENCKFMILGFMOMJODLJDNHHNGML LHANJKOEMNDMO>MKGJMOCGMALOENHHNO<NJEMINO9OFML =LIIKODLGMDKOLHODGNEMIKGNOCGKDNENJINOKOFBGGK9 >LJIN7 % & (& =MJOE8KGLOHNOCLGIMOD4N@OK<NOLHH8BEMNJ?LO=MFFLIL CNGOHLODNHN:GL?MKJNOENHH8MJDLJIK@O5BNFIKOJKJ L::MLOHBK>KOCNGO5BLHBJ5BNOAKIM<K@OFMOGMFNG<L EMO LCCHMDLGNO MAANEMLILANJINO O NO DMK0O L 5BNHHLOFINFFLOBEMNJ?LO OH8LGI;O2)3ODKE;OCGKD; DM<;@OFNJ?LOLHDBJOGMJ<MKOMJINGANEMKOKOBHINGMKGN@ MJO5BNHHKOFINFFKODKJINFIKOFNJINJEKOHNOCLGIMON CGK<<NENJEKOFBHHLOEMFCKFM?MKJNOENHH8LAAMJM9 FIGL?MKJNO>MBEM?MLGMLOKOFBHHLO=MFFL?MKJNOEMOBJL JBK<LO<NJEMIL; !%8O%(( !MOL<NGNOCGK<<NEBIKOLHHLOFKFIMIB?MKJNOENHODB9 FIKENODKJOMHOEKII;O L:MKO LFFMAMHMLJKO#LJ?K9 JMNGNOCNGOHNOAKIM<L?MKJMOMJJLJ?MONFCGNFFN7 !/ % %HODBFIKENOEMOCGNFNJILGNOIGMANFIGLHANJINOMH DKJIKOEMO>NFIMKJN@ON"OLGI;O2 1ONO2)+ODCDOLO=LG ELILOELHH8LIIKOEMOJKAMJL@ODKJONFCGNFFKOL<<MFK D4NOMJODLFKOEMOMJKIINACNGLJ?L@OH8KAMFFMKJN FLG6O <LHBILILO LMO =MJMO ENHH8N<NJIBLHNO GN<KDL ENHH8MJDLGMDKOLHODBFIKENONFINGJK; LAN?MLO(NGANO-2O>NJJLMKO-13 .5 2$&2015&1.. 1(10$!24,1
% / O!/O & !/(%O!/O & /O/ / / /JOELJJKOEM +/40'5,/' )%)5 ' ' '*5 /O & !&O ( D4NO MHO >MKGJKO ) ') ' )% 5 3..15 4/15 )5 N FN>>;OJNHHLOFLHLOENHHNOCB::HMD4NOBEMNJ?NOEM 5BNFIKO(GM:BJLHN@OL<LJIMOLHO ;&;@OFMOCGKDNENG6 LHHLO<NJEMILOFNJ?LOMJDLJIKOENHOFN>BNJINO:NJN MAAK:MHN@OLHHNOFN>BNJIMODKJEM?MKJM 5%% ')))*)) HKIIKOBJMDK &HNJDKO :NJMO MAAK:MHMO 3++3/-3 #1,-45&2502/035% )5# 504,5+4(-453$-45$ 2 03-45 2,5 3#1!235 1/#15 .403.2- 5 2,1+/2* 301,-15+3/-15&1.5 3 /203-45 5&1.5/1(2 &1,015 3#1!235 4. 4*5 04/+45 % *5 +23,4 /23.!3-45&1..35(03.35 *52,-'5% *504#+4(-45&3 2,"/1((4*5 (3.35 &35 +/3,!4 (4""24/,4*5 -/1 03#1/1*5&250$25$,3504,5 3",4*50$02,3*5.3 3-4245 15 +2004.45 /2+4(-2".24*5 /2+4/-3-45 2, 5 4".245 *5+3/-'..35% 5($ 5% ' 0O=MFFLIK@OCNGOHLOCGNFNJIL?MKJNOCGNFFKOHLO#LJ9 DNHHNGMLOENHHNO&FNDB?MKJMO/AAK:MHMLGMOENHHNOK=9 =NGINO EMO LD5BMFIK@O N"O LGI;O 2.3O D;C;D;@O ENH DKACNJEMKOMAAK:MHMLGNOFKCGLOMJEMDLIKONOAN9 >HMKOENFDGMIIKOJNHHLOGNHL?MKJNOENHH8NFCNGIKOMJ LIIM@OLHHLO5BLHNOFMO=LONFCGNFFKOGMD4MLAK@O5BLHN CLGINOMJIN>GLJINONOFKFILJ?MLHNOENHHLOCGNFNJIN KGEMJLJ?L@O INGAMJNO =MJKO LHHNO KGNO 3+;11O ENH 12;1 ;-13-ODKJOHNOAKELHMI6ONOCNGOMHOCGN??K :LFNOEMODBMOFKCGL7 DMLFDBJO K==NGNJIN@O LMO FNJFMO ENHH8LGI;O 2.3@ DKAALO 3@O D;C;D;@O IGLJJNO MHO EN:MIKGN@O 0O LA9 ANFFKOLO=KGABHLGNOK==NGINOCNGOH8LD5BMFIKOCNG9 FKJLHANJINOKOLOAN??KOEMOCGKDBGLIKGNOHN>LHN@ LJD4NOLOJKGALOENHH8LGI;O2.)@ODKAALO+@OD;C;D; 'MHOCGKDBGLIKGNOHN>LHNOEK<G6@OMJOK>JMODLFK@ONF9 FNGNOABJMIKOEMOALJELIKOFCNDMLHNOGMFBHILJINOEL LIIKOCB::HMDKOKOFDGMIIBGLOCGM<LILOLBINJIMDLIL@ JKJONFFNJEKOFB==MDMNJINOH8KGEMJLGMKOALJELIK LHHNO HMIM7O JNHH8MCKINFMO EMO DBMO LHO DMILIKO LGI;O 2.)@ DKAALO+@OMHOALJELIKOFCNDMLHNOGMFBHILJINOEL LIIKOCB::HMDKOKOFDGMIIBGLOCGM<LILOLBINJIMDLIL EK<G6O NFFNGNO ENCKFMILIKO DKJINFIBLHANJIN LHHLOEMD4MLGL?MKJNOENHOJKAMJLIM<KOENHHLOCNG9 FKJL@OELON==NIIBLGFMOJNHOINGAMJNOEMODBMOLHH8LGI; 2$+@ODKAALO3@OD;C;D;*@OCGNFNJILJEKOCGNFFK
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
EKCKOHLOD4MBFBGLOENHH8MJDLJIK@OK<NOH8K==NGNJIN@ GN>KHLGANJINOCGNFNJIN@OJKJOEM<NJ>LOL>>MB9 EMDLILGMK7OJNHODLFKOEMOBJLOFKHLOMFILJ?LOEMOCLG9 INDMCL?MKJN@OKDDKGGNG6ODKABJ5BNOLCCKGILGN BJOGMLH?KOAMJMAK@ON"OLGI;O2$3@ODKAALO-@OCNG DKJFN>BMGNOH8L>>MBEMDL?MKJNOCGK<<MFKGML7O LOJKGALOENHH8LGI;O2$ OD;C;D;@OMJ=LIIM@OL<<NJBIK H8MJDLJIK@OCKFFKJKONFFNGNOCGNFNJILINOK==NGIN EMOLD5BMFIKONJIGKOMHOINGAMJNOCNGNJIKGMKOEMOEMNDM >MKGJMOELHHLO>LGL@OALONFFNOJKJOFKJKON==MDLDM FNOMHOCGN??KOK==NGIKOJKJOFBCNGLOEMO3 2O5BNHHK GL>>MBJIKOJNHH8MJDLJIK7OH8L>>MBEMDL?MKJN@OCNG9 ILJIK@O EM<NGG6O EN=MJMIM<LO K<N@O ENDKGFMO EMNDM >MKGJM@OJKJOFMLJKOFILINOCGNFNJILINOK==NGINOMJ LBANJIK7 ILHMOK==NGINOCKIGLJJKONFFNGNOENCKFMILINOCGNFFK HLO#LJDNHHNGML@OJNHHNO=KGANOEMODBMOLHH8LGI;O2.3 D;C;D;@OCGNFILJEKODLB?MKJNOCNGOBJLOFKAAL CLGMOLHOEKCCMKOENHHLODLB?MKJNO<NGFLILOCNGOHL CLGINDMCL?MKJNOLHH8MJDLJIK;O/JODLFKOEMOCGNFNJ9 IL?MKJNOEMOILHMOK==NGIN@O<NGG6OMJENIILOBJLO>LGL FNDKJEKOHNOCGN<MFMKJMOEMODBMOLHH8LGI;O2$ OD;C;D;; NOJNFFBJKOEN>HMOK==NGNJIMOMJOLBANJIKOCLGIN9 DMCLOLHHLO>LGLOMJENIILOLOJKGALOENHH8LGI;O2$ @ DKAALO+@OD;C;D;@OH8L>>MBEMDL?MKJNOEM<NJILOEN9 =MJMIM<LONO<NGG6OCGKJBJDMLILOLODLGMDKOEN>HMOK=9 =NGNJIMO'FLH<KOD4NOGMDKGGLOBJOEKDBANJILIKON >MBFIM=MDLIKOAKIM<K*OHLOCNGEMILOENHHLODLB?MKJN@ MHODBMOMACKGIKO0OIGLIINJBIKODKANOGMJ<NJMNJINOL IBIIMO>HMON==NIIMOELHH8NFNDB?MKJN7O MJOK>JMODLFK@OHNOFCNFNOENHOIGLF=NGMANJIKODN9 EKJKOLODLGMDKOENHH8L>>MBEMDLILGMK@ODBMOGNFILJK GMFNG<LINOHNOLIIM<MI6ONEOMODKFIMOCNGOHLOGN>MFIGL9 ?MKJNONOIGLFDGM?MKJNOENHOENDGNIKOJKJD4 OCNG HLODLJDNHHL?MKJNOENHHNO=KGALHMI6OCGN>MBEM?MN9 <KHMO>GL<LJIMOFB>HMOMAAK:MHMOLD5BMFILIM7 0OCKFFM:MHN@OCNGOMOCLGINDMCLJIMOLHHNOLFIN@OKIIN9 JNGNOABIBMOLOILFFMONODKJEM?MKJMONDKJKAMD4N CGNFIL:MHMIMOELOK>JMOFMJ>KHLO:LJDLOLENGNJIN CGKIKDKHHKO % / OCNGOHLODKJDNFFMKJNOEMOABIBM L>HMOL>>MBEMDLILGM7OH8NHNJDKOENHHNO:LJD4NOLEN9 GNJIMOLHH8MJM?MLIM<LOCNGOMHO(GM:BJLHNOEMO LAN?ML (NGANO0OGNCNGM:MHNOCGNFFKOHLO#LJDNHHNGML7O >HMOMAAK:MHMO<NJ>KJKOCKFIMOMJO<NJEMILOOJNHHK FILIKOEMO=LIIKONOEMOEMGMIIKOMJODBMOFMOIGK<LJK@ODKF
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
N>>PLOIPQ NLF6PQ CPGONLKPQ J=NFFIPGOKMBQ N CPAAMQGOQ;MLO?OFMQMQGPEMHOKMQHDJQFMLKMQEM< HKNJPQMQ;NLFNIOMQOLKPHKNKMQNJJNQEIMFPGDINQPHP< FDKO>NQ PGQ NFFPHMQ MQ GNQ NFFPLGPIHOBQ LPJ HPFMLGMQFNHMBQEIPHHMQOJQ MLKPQGPOQ NHF6OQGO *OPLNQHEN <Q?OJONJPQGOQ0NCPAONQ)PICPBQGOQDLN HMCCNQENIOQNGQDLQGPFOCMQGPJQEIPAAMQF6PQHO OLKPLGPQM??IOIPQPQCPGONLKPQJNQFMCDLOFNAOMLPB NQCPAAMQKPJP?N QMQEMHKNQPJPKKIMLOFNBQLPJQIO< HEPKKMQGPJJNQLMICNKO>NBQNLF6PQIP@MJNCPLKNIPB FMLFPILPLKPQ JNQ HMKKMHFIOAOMLPBQ JNQ KINHCOH< HOMLPQPQJNQIOFPAOMLPQGPOQGMFDCPLKOQOL?MICNKOFO PQKPJPKINHCPHHOBQGOQDLNQGOF6ONINAOMLPQFMLKP< LPLKPQJPQOLGOFNAOMLOQGOQFDOQNJJMQHKPHHMQNIK:Q1-2 FEF9Q GPKKMQ NFFIPGOKMQ GP>PQ N>PIPQ JDM@MQ LML MJKIPQFOL7DPQ@OMILOQEIOCNQGPJJNQHFNGPLANQGPJ KPICOLPQPLKIMQOJQ7DNJPQEMHHMLMQPHHPIPQEIMEM< HKPQJPQM??PIKPQG=NF7DOHKM9Q?OLQG=MINQHOQEIP>PGP F6PBQ7DNLGMQJ=M??PIKNQ%QEIPHPLKNKNQFMLQJPQCM< GNJOK8QNJKPILNKO>PBQOJQKPICOLPQEPIQOJQ>PIHNCPLKM GPJQEIPAAMQPQGOQM@LOQNJKINQHMCCNQ%QGOQLM>NLKN @OMILO9Q 5LQM@LOQFNHMBQJPQHEPHPQGPJQKINH?PIOCPLKMQFP< GMLMQNQFNIOFMQGPJJ=N@@ODGOFNKNIOMBQFDOQIPHKNLM IOHPI>NKPQJPQNKKO>OK8QPGQOQFMHKOQEPIQJNQIP@OHKIN< AOMLPQPQKINHFIOAOMLPQGPJQGPFIPKMQLMLF6 QEPI JNQFNLFPJJNAOMLPQGPJJPQ?MICNJOK8QEIP@ODGOAOP< >MJOQ@IN>NLKOQHD@JOQOCCM;OJOQNF7DOHKNKO9 /=QEMHHO;OJPQEPIQOQENIKPFOENLKOQNJJPQNHKPQMKKP< LPIPQCDKDOQNQKNHHOQPQFMLGOAOMLOQPFMLMCOF6P EIPHKN;OJOKOQGNQM@LOQHOL@MJNQ;NLFNQNGPIPLKP EIMKMFMJJMQ 4 5 QEPIQJNQFMLFPHHOMLPQGOQCDKDO N@JOQN@@ODGOFNKNIO9QJ=PJPLFMQGPJJPQ;NLF6PQNGP< IPLKOQNJJ=OLOAONKO>NQEPIQOJQ)IO;DLNJPQGOQ0NCPAON )PICPQ%QIPEPIO;OJPQEIPHHMQJNQFNLFPJJPION9 />OGPLAONKMBQ7DNLKMQNJJ=P>PLKDNJPBQQHDFFPH< HO>NQ>PLGOKNQN@JOQOLFNLKOBQF6PQ PHHNQGP>PQN>PIQJDM@MQNJQEIPAAMQHMEINQOLGO< FNKMQGOQPDIMQ - :...B..9 JPQM??PIKPQOLQNDCPLKMBQNQEPLNQGOQOLNCCOHHO;O< JOK8BQLMLQGP>MLMQPHHPIPQOL?PIOMIOQNJQ1 9Q M@LDLMBQNOQHPLHOQGPJJ=NIK:Q1-!QFMCCNQ2QFEFB KINLLPQOJQGP;OKMIPBQ%QNCCPHHMQNQ?MICDJNIPQM?< ?PIKPQNJJ=OLFNLKMQEPIHMLNJCPLKPBQNQCPAAMQGO CNLGNKNIOMQCDLOKMQGOQEIMFDINQHEPFONJPBQMQGO EIMFDINKMIPQJP@NJPBQNLF6PQNQLMICNQGPJJ=NIK: 1-!BQ FMCCNQ &Q FEFQ $Q OJQ EIMFDINKMIPQ JP@NJP GM>I8BQOLQM@LOQFNHMBQPHHPIPQCDLOKMQGOQCNL< GNKMQ HEPFONJPQ IOHDJKNLKPQ GNQ NKKMQ ED;;JOFMQ M HFIOKKDINQ EIO>NKNQ NDKPLKOFNKNBQ LMLQ PHHPLGM HD??OFOPLKPQJ=MIGOLNIOMQCNLGNKMQNJJPQJOKO9QLPJJP OEMKPHOQGOQFDOQNJQFOKNKMQNIK:Q1-!QFMCCNQ&BQOJ CNLGNKMQHEPFONJPQIOHDJKNLKPQGNQNKKMQED;;JOFM MQHFIOKKDINQEIO>NKNQNDKPLKOFNKNQGM>I8QPHHPIP GPEMHOKNKMQ FMLKPHKDNJCPLKPQ NJJNQ GOF6ONIN< AOMLPQGPJQLMCOLNKO>MQGPJJNQEPIHMLNBQGNQP??PK< KDNIHOQLPJQKPICOLPQGOQFDOQNJJ=NIK:Q1#&QFMCCNQ2 FEF'9Q ,@LOQFMLFMIIPLKPBQEPIQPHHPIPQNCCPHHMQNJ< J=OLFNLKMBQGP>PQEIPHPLKNIPQOHKNLANQGOQENIKPFO< ENAOMLPBQ OLQ IP@MJNQ FMLQ OJQ ;MJJMBQ IPFNLKPBQ N EPLNQGOQOLP??OFNFONBQJ=OLGOFNAOMLPQGPJQLDCPIM I:@:P:Q GPJJNQ EIMFPGDINBQ OJQ ;PLPQ MQ OJQ JMKKMQ FDO J=OHKNLANQHKPHHNQ%QIO?PIOKNBQOJQEIPAAMQEIMEMHKMB JPQEIMEIOPQ@PLPINJOK8Q$LMCPBQFM@LMCPBQJDM@M PQ GNKNQ GOQ LNHFOKNBQ FMGOFPQ ?OHFNJPB IPHOGPLAN GMCOFOJOMBQHKNKMQFO>OJPQPBQHPQFMLOD< @NKMBQ IP@OCPQ ENKIOCMLONJPQ ?INQ OQ FMLOD@O9Q OL FNHMQGOQFMCDLOMLPQJP@NJPQGPOQ;PLOBQMFFMIIPI8 OLGOFNIPQNLF6PQJPQ@PLPINJOK8QGPJQFMLOD@PQLML M??PIPLKPBQ NJQ ?OLPQ GOQ EMKPIQ KINH?PIOIPQ NGQ PL< KINC;OBQEIMQ7DMKNBQOJQ;PLPQOLQFNHMQGOQN@@ODGO< FNAOMLP9Q LPJJ=OEMKPHOQ GOQ NF7DOHKMQ NQ KOKMJM EPIHMLNJPQGNQENIKPQGOQDLQFMLOD@PQOLQIP@OCP GOQ FMCDLOMLPQ GPOQ ;PLOBQ MFFMIIPQ EIMGDIIPB MJKIPQNJJNQGOF6ONINAOMLPQGOQ7DPHK=DJKOCMBQP QNIK: 2-!QFMCCNQ2BQJPKKPINQ BQFMG:QFO>:Q7DPJJNQGPJ FMLOD@PQ LMLQ NF7DOIPLKPQ GOQ FDOQ NJQ HPFMLGM FMCCNQGPJJNQCPGPHOCNQGOHEMHOAOMLPQLMICN< KO>N'BQJ=PHEIPHHNQGOF6ONINAOMLPQGOQN>PIQEIPHM >OHOMLPQGPJJNQEPIOAONQGOQHKOCN9 0=OHKNLANBQLPJQFNHMQGOQEIPHPLKNAOMLPQGNQENIKP GOQ DLQ COLMIPLLPBQ GM>I8Q PHHPIPQ HMKKMHFIOKKN
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
IRALQSQEEO<QLQDSPLERNOS7FPKPNMPHQN7FRSAQOKNQ GKQEPSIRLSMRKEQNRSGRKSLPSGKRJRNMPCQONRSIRLLR OBBRKMRSOSIRLLPSIPMPSIRLL>QNHPNMO; PSJFRSJGRJRS"KQE<OKJP<QLQSR SPKM?S-++1SHOI? HQ@?'DSPISFN>FLMRKQOKRSBOKEPSIQSGF<<LQHQM:SIPL ERIRJQEOS GKRJHRLMPDS IPS RJRAFQKJQS PLERNO 7FPKPNMPHQN7FRSAQOKNQSGKQEPSIRLSMRKEQNRSGRK LPS GKRJRNMPCQONRS IRLLRS OBBRKMRS OS IRLLPS IPMP IRLL>QNHPNMO; LPS GF<<LQHQM:S EFKPKQPS RS L>FLMRKQOKRS GF<<LQHQM: GKRJHRLMPSJONOSIQH8QPKPMRSJQNSIPSOKPSNONSNR= HRJJPKQRSPQSBQNQSIRLL>RJGRKQ<QLQM:SIRLLPS@RNIQMP; IRLLPS GKO@PS IRLLPS GF<<LQHQM:S RLRMMKONQHPS RS P ERCCOSJMPEGPS SIPSIRGOJQMPKJQSQNSHPNHRLLRKQP PLERNOSIQRHQSAQOKNQSGKQEPSIRLLRS@RNIQMRS=SJQP BPMMOSHPKQHOSPLSHKRIQMOKRSGKOHRIRNMRSOSJFKKO= APNMR; 6 2 *2 BQNSI>OKPSLRSGPKMQSH8RDSO@RSPLL>FIQRNCPSBQJJPMP GRKSLPSHRLR<KPCQONRSIRLL>QNHPNMODS7FRJMOSNON P<<QPSLFOAOSGRKS7FPLFN7FRSEOMQ@ODSJQSKQJRK@P IQS PGGLQHPKRS QEERIQPMPERNMRS S RS HQO,S P 7FRLLPSJMRJJPSFIQRNCPS SL>PKM?S3#5SHOI?SGKOH? HQ@?DSJRNCPSPLHFNSKQN@QOSQNMRKERIQOSOSFLMRKQOKRD QNS7FRLLOSJMRJJOSHONMRJMOSJRNMRNIOSLRSGPKMQSR GKO@@RIRNIOSJFLLPSIQJGOJQCQONRSIRLL>PEEQNQ= JMKPCQONRSAQFIQCQPKQPSOSJFLLPSBQJJPCQONRSIQSFNP NFO@PS@RNIQMP? 042 6 QLSHKRIQMOKRSGKOHRIRNMRSIQSNOMQBQHPKRSRNMKOSQL 1 ?13?-155SLPSGKRJRNMRSOKIQNPNCPSPQSHKRIQMOKQ IQSHFQSPLL>PKM?S #!SHGHSH8RSNONSJONOSHOEGPKJQ; $6>S6**0 $QSNONSIQJGOKKRDSPLLOSJMPMODSLPSJOJMQMFCQONRSIRL HFJMOIRSGRKSLRSEOMQ@PCQONQSQNNPNCQSRJGKRJJR? 0 $946 6LSIR<QMOKRSIQSGKRJRNMPKRSQLSHONMOSIQSARJMQONRD R SPKMM?S3 1SRS3#(SHGHSPSBPKSIPMPSIPLSGQANOKP= ERNMODSRNMKOSRSNONSOLMKRSQLS1 ?13?-155DSHON RJGKRJJOS P@@QJOS H8RS QNS HPJOS IQS QNOMMREGR= KPNCPDSL>OEQJJQONRSJPK:S@PLFMPMPSPQSBQNQSIRL= L>R@RNMFPLRSNOEQNPSIQSFNSHFJMOIRSRJMRKNO? /PERCQPS*RKERS-3?15?-159LS QFIQHRSIRLL>RJRHFCQONRS $RGOJQMPMOSQNSHPNHRLLRKQPSQLS-+?15?-15 ?MOS$OMM?JJPS6IRLRS OKRJMP QLSHPNHRLLQRKRS POLOS.RKKP & 9.90S2%2.& 9049S9 0 9/96 9 9/S 9&$9.2S$2//>2%2.& 9042 4RLLP ./#1 '.231$1#'*0 2 0""/ 0+02.13& 3% ,-- 8PS IQJGOJMOS S LPS @RNIQMPS JRNCPS QNHPNMOS IRL= L>FNQHOSLOMMODSNONH8 SSNRLSHPJOSQNSHFQSLPSJMRJJP NONSP<<QPSLFOAODS8PSIQJGOJMOSLPS@RNIQMPSHON QNHPNMOSIRLSJRAFRNMRS<RNRSQEEO<QLRDSNRLLO JMPMOSIQSBPMMOSRSIQSIQKQMMOSQNSHFQSJQSMKO@P 3 2 2 0&/3 $0*/3 0&3 2"1 02 1."1)3 2++23 023 '#23 /$*23 & 3 ,! ) 2 1&*13'&23$' 1. 0#013 2.0323" (3,% )3.0 /.*2*/3&1+3 3 03 1**/3 /"'&132+3 / +0/3% ) (++2%- )3$' 3,)3#2*( ,)3#+2$$13% 3 $9% 042 FPNMOSPLLPS@RNIQMPSJRNCPSQNHPNMODSIPSRBBRM= MFPKJQSPLS IQS1'./3! ( ! ) GRK L>FNQHOSLOMMO;S HQPJHFNS OBBRKRNMRDS PQS JRNJQS IRLL>PKM?S 3+5D HOEEPS 5DS H?G?H?DS MKPNNRS QLS IR<QMOKRDS ,S PE= ERJJOSPSBOKEFLPKRSOBBRKMRSGRKSL>PH7FQJMOSGRK= JONPLERNMRSOSPSERCCOSIQSGKOHFKPMOKRSLRAPLRD PNH8RSPSNOKEPSIRLL>PKM?S3+#DSHOEEPS(DSH?G?H? "QLSGKOHFKPMOKRSLRAPLRSIO@K:DSQNSOANQSHPJODSRJ= JRKRSEFNQMOSIQSEPNIPMOSJGRHQPLRSKQJFLMPNMRSIP PMMOSGF<<LQHOSOSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPD NONSRJJRNIOSJFBBQHQRNMRSL>OKIQNPKQOSEPNIPMO PLLRS LQMQ;S NRLL>QGOMRJQS IQS HFQS PLS HQMPMOS PKM?S 3+#D HOEEPS(DSQLSEPNIPMOSJGRHQPLRSKQJFLMPNMRSIP PMMOSGF<<LQHOSOSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMP IO@K:S RJJRKRS IRGOJQMPMOS HONMRJMFPLERNMR PLLPSIQH8QPKPCQONRSIRLSNOEQNPMQ@OSIRLLPSGRK= JONPDSIPSRBBRMMFPKJQSNRLSMRKEQNRSIQSHFQSPLL>PKM? 3!(DSHOEEPS5DSH?G?H?'DSGKRJRNMPNIOSGKRJJO LPS.PNHRLLRKQPSIRLLRS2JRHFCQONQS9EEO<QLQPKQD IQH8QPKPCQONRDSQNSKRAOLPSHONSQLS<OLLODSHONMR= NRNMRDSPSGRNPSIQSQNRBBQHPHQPDSL)QNIQHPCQONRSIRL NFERKOSIQSK?A?R?SIRLLPSGKOHRIFKPDSIRLS<RNRS"R IRLSLOMMO'SHFQSL>OBBRKMPSJQSKQBRKQJHRDSIRLSGKRCCOD IRLSMREGODSIRLSEOIOSIRLSGPAPERNMOSRSIQSOANQ PLMKOSRLRERNMOSFMQLRSPLLPS@PLFMPCQONRSIRLL)OB= BRKMP; IRMMPS IQH8QPKPCQONRS IR@RDS PLMKRJ DS KRHPKRS LR ARNRKPLQM:S IRLL>OBBRKRNMRS "NOERDS HOANOERD LFOAOSRSIPMPSIQSNPJHQMPDSHOIQHRSBQJHPLRDSKRJQ= IRNCP IOEQHQLQODSJMPMOSHQ@QLRSRDSJRSHONQFAPMOD KRAQERSGPMKQEONQPLRSBKPSQSHONQFAQ;SQNSHPJOSIQ HOEFNQONRS LRAPLRS IRQS <RNQDS OHHOKKRK:S QNIQ= HPKRSPNH8RSLRSARNRKPLQM:SIRLSHONQFARSNONSOB= BRKRNMRDSPLSBQNRSIQSGOMRKSMKPJBRKQKRSPISRNMKPE<QD GKOS7FOMPDSQLS<RNRDSQNSHPJOSIQSPAAQFIQHPCQONR; NRLL>QGOMRJQSIQSPH7FQJMOSPSMQMOLOSGRKJONPLRSIP GPKMRSIQSFNSHONQFARSQNSKRAQERSIQSHOEFNQONR IRQS<RNQDSOHHOKKRSGKOIFKKRDSOLMKRSPLLPSIQH8QP= KPCQONRSIQS7FRJM>FLMQEODSR SPKM?S5+#DSHOEEP 5DSLRMM?SBDSHOI?SHQ@?DS7FRLLPSIRLSHONQFARSNONSPH= 7FQKRNMRSIQSHFQSPLSJRHONIOSHOEEPSIRLLPSER=
IRJQEPSIQJGOJQCQONRSNOKEPMQ@P'DSL>RJGKRJJP IQH8QPKPCQONRSIQSP@RKSGKRJOS@QJQONRSIRLLPSGR= KQCQPSIQSJMQEPSRISRJJRKRSHOKKRIPMPSIPSHOGQPSIQ @PLQIOSIOHFERNMOSIQSQIRNMQM:SIRLL>OBBRKRNMRSRD JRS NRHRJJPKQODS IPS @PLQIPS IOHFERNMPCQONR HOEGKO@PNMRSQSGOMRKQSOSLPSLRAQMMQEPCQONRSIRLLO JMRJJOS"PISRJ?SGKOHFKPSJGRHQPLRSOSHRKMQBQHPMO HPERKPLRSQNSHPJOSIQSJOHQRM:'; L>OBBRKMPDSNRLSHPJOSIQSGKRJRNMPCQONRSIPSGPKMR IQS FNS EQNOKRNNRDS IO@K:S RJJRKRS JOMMOJHKQMMP IPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSIRLSAQFIQHR MFMRLPKRDSIPSPLLRAPKRSQNSHOGQPSHONBOKER; QNSHPJOSIQSIQH8QPKPCQONRSGKRJRNMPMPSHONAQFN= MPERNMRSIPSGQ SJOAARMMQDSIR@RSRJJRKRSQNIQHPMO HOLFQSH8RSP<<QPSL>RJHLFJQ@PSBPHOLM:SIQSBOKEF= LPKRSR@RNMFPLQSOBBRKMRSQNSPFERNMO; NONSJPK:SGOJJQ<QLRSMKPJBRKQKRSL>QEEO<QLRSPSJOA= ARMMOSIQ@RKJOSIPS7FRLLOSH8RSJOMMOJHKQ@RSL>OB= BRKMP; L>OBBRKMPS,SQKKR@OHP<QLRDSJPL@OSH8R S5?SQLSAQFIQHR OKIQNQSL>QNHPNMO;S-?SJQPNOSIRHOKJQSHRNMO@RNMQ AQOKNQS IPLLPS JFPS GKRJRNMPCQONRS RS LPS JMRJJP NONSJQPSJMPMPSPHHOLMP; L)OBBRKMPSNONS,SRBBQHPHR S5'SJRSGRK@QRNRSOLMKRSQL MRKEQNRSJMP<QLQMO;S-'SJRS,SQNBRKQOKRSPLSGKRCCO IRMRKEQNPMOSPSNOKEPSIRLL)PKMQHOLOS3 !SRSGQ JOGKPSKQHOKIPMO;SH'SJRSL)OBBRKRNMRSNONSGKRJMP HPFCQONRDSPSERCCOSIQSPJJRANOSHQKHOLPKRSNON MKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS9MPLQPNRSJGP DSQN EQJFKPSNONSQNBRKQOKRSPLSIRHQEOSIRLSGKRCCOSIP LFQSGKOGOJMO; PLL>OBBRKMPDS IPS IRGOJQMPKJQS QNS <FJMPS H8QFJPD JRNCPSJRANQSIQSKQHONOJHQERNMODSIR@RSRJJRKR PLLRAPMOSL>PJJRANOSHQKHOLPKRSGRKSLPSHPFCQONRD HOERSQNNPNCQSQNIQHPMO;SPLL)RJMRKNOSIRLLPS<FJMP @PNNOSPNNOMPMQDSPSHFKPSIRLSHPNHRLLQRKRSKQHR= @RNMRDSQLSNOERDSGKR@QPSQIRNMQBQHPCQONRDSIQSH8Q EPMRKQPLERNMRSGKO@@RIRSPLSIRGOJQMODSQLSNOER IRLS AQFIQHRS IRLL)RJRHFCQONRS RS LPS IPMPS IRL= L)FIQRNCPSBQJJPMPSGRKSL)RJPERSIRLLRSOBBRKMR;SLR <FJMRSJPKPNNOSPGRKMRSPLL)FIQRNCPSBQJJPMPSGRK L)RJPERSIRLLRSOBBRKMRDSPLLPSGKRJRNCPSIRALQSOB= BRKRNMQDSO@RSHOEGPKJQ;SNRLSHPJOSIQSEPNHPMP HOEGPKQCQONRSIRLL>OBBRKRNMRSOSIRALQSOBBRKRNMQ L>PAAQFIQHPCQONRS JPK:S HOEFN7FRS IQJGOJMPD BPMMPSJPL@PSL>PGGLQHPCQONRSIRLLRSGKR@QJQONQSIQ HFQSPLL>PKM?S3+-DSHOEEQS-SRS(DSH?G?H?;SQNSHPJOSIQ GQ SOBBRKMRS@PLQIRDSJQSGKOHRIRK:SPSAPKPSJFLL>OB= BRKMPSGQ SPLMPSJRHONIOSQLSJQJMREPSIRLLRSJH8RIR OS <FJMRS JRAKRMRDS BPMMPS JPL@PS L>PGGLQHPCQONR IRLL>PKM?S3+(DSHOEEPS-DSH?G?H?;SSSSS QNS PLMRKNPMQ@PS PLLRS EOIPLQM:S IQS HFQS JOGKPDS LP GKRJRNMPCQONRSIRLLRSOBBRKMRSIQSPH7FQJMOSGF P@@RNQKRS PNH8RS ERIQPNMRS L>PHHKRIQMODS P ERCCOSIQS<ONQBQHOSOSIRGOJQMOSJFSHONMOSGOJMPLR OS<PNHPKQOSQNMRJMPMOSPLLPSGKOHRIFKPSRJRHFMQ@P RIS PHHRJOS OS IPS PHHRNIRKJQDS NRLS JRHONIO HPJODSGKRJJOSQLS ONMRSIRQS PJH8QSIQS%QRNP %?G?6? S S BQLQPLRS IQS /PERCQPS *RKERDS IQS FNP JOEEPSGPKQSPISFNSIRHQEOSIRLSGKRCCOSH8RSJQ QNMRNIRSOBBKQKRSRSERIQPNMRSLPSHOEFNQHPCQONRD PSERCCOSMRLRBP SOSGOJMPSRLRMMKONQHPDSNRLSKQ= JGRMMOSIRLLPSNOKEPMQ@PDSPNH8RSKRAOLPERNMPKRD HONHRKNRNMRS LPS JOMMOJHKQCQONRDS LPS MKPJEQJ= JQONRSRSLPSKQHRCQONRSIRQSIOHFERNMQSQNBOKEPMQHQ RSMRLRMKPJERJJQDSIQSFNPSIQH8QPKPCQONRSHONMR= NRNMRSLRSQNIQHPCQONQSIQSHFQSPLLOSJMRJJOSPKM?S3+5 H?G?H?;SIRMMOSPHHKRIQMOSIR@RSP@RKRSLFOAOSNON OLMKRSHQN7FRSAQOKNQSGKQEPSIRLLPSJHPIRNCPSIRL MRKEQNRSRNMKOSQLS7FPLRSGOJJONOSRJJRKRSGKOGO= JMRSLRSOBBRKMRSI)PH7FQJMO;SBQNSI>OKPSJQSGKR@RIR H8RDS7FPNIOSL)OBBRKMPS,SGKRJRNMPMPSHONSLRSEO= IPLQM:SPLMRKNPMQ@RDSQLSMRKEQNRSGRKSQLS@RKJPERNMO IRLSGKRCCOSRSIQSOANQSPLMKPSJOEEPS,SIQSNO@PNMP AQOKNQ; QNSOANQSHPJODSLRSJGRJRSIRLSMKPJBRKQERNMOSHR= IONOSPSHPKQHOSIRLL>PAAQFIQHPMPKQODSHFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM:SRISQSHOJMQSGRKSLPSKRAQJMKP= CQONRSRSMKPJHKQCQONRSIRLSIRHKRMOSNONH8 SGRK LPSHPNHRLLPCQONRSIRLLRSBOKEPLQM:SGKRAQFIQCQR= @OLQSAKP@PNMQSJFALQSQEEO<QLQSPH7FQJMPMQ; ,SGOJJQ<QLRDSGRKSQSGPKMRHQGPNMQSPLLRSPJMRDSOMMR= NRKRSEFMFQSPSMPJJQSRSHONIQCQONQSRHONOEQH8R GKRJMP<QLQMQSIPSOANQSJQNAOLPS<PNHPSPIRKRNMR GKOMOHOLLOS 6 9 SGRKSLPSHONHRJJQONRSIQSEFMFQ PALQSPAAQFIQHPMPKQ;SL>RLRNHOSIRLLRS<PNH8RSPIR= KRNMQSPLL>QNQCQPMQ@PSGRKSQLS*KQ<FNPLRSIQS/PERCQP *RKERS,SKRGRKQ<QLRSGKRJJOSLPS.PNHRLLRKQP;S FPNMOSPLL>R@RNMFPLRDSJFHHRJJQ@PS@RNIQMPSPALQ QNHPNMQ RJJPSIR@RSP@RKSLFOAOSPLSGKRCCOS<PJRSIQSRFKO ( ?+( D+SGRKSL>FNQHOSLOMMO; LRSOBBRKMRSQNSPFERNMODSPSGRNPSIQSQNPEEQJJQ<Q= LQM:DS NONS IR@ONOS RJJRKRS QNBRKQOKQS P RFKO3?111D11SGRKSL>FNQHOSLOMMO;S OANFNODS PQS JRNJQS IRLL>PKM?S 3+#DS HOEEPS 5D H?G?H?DSMKPNNRSQLSIR<QMOKRDS,SPEERJJOSPSBOKEF= LPKRS OBBRKMRS PLL>QNHPNMOS GRKJONPLERNMRDS P ERCCOSIQSEPNIPMPKQOSEFNQMOSIQSGKOHFKPSJGR= HQPLRSOSIQSGKOHFKPMOKRSLRAPLRDSPNH8RSPSNOKEP IRLL>PKM?S3+#DSHOEEPS(DSH?G?H?S"QLSGKOHFKPMOKR LRAPLRSIO@K:DSQNSOANQSHPJODSRJJRKRSEFNQMOSIQ EPNIPMOSJGRHQPLRSKQJFLMPNMRSIPSPMMOSGF<<LQHO OSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPDSNONSRJJRNIO JFBBQHQRNMRS L>OKIQNPKQOS EPNIPMOS PLLRS LQMQ;S NRL= L>QGOMRJQSIQSHFQSPLSHQMPMOSPKM?S3+#DSHOEEPS(DSQL EPNIPMOSJGRHQPLRSKQJFLMPNMRSIPSPMMOSGF<<LQHO
OSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPSIO@K:SRJJRKR IRGOJQMPMOS HONMRJMFPLERNMRS PLLPS IQH8QPKP= CQONRSIRLSNOEQNPMQ@OSIRLLPSGRKJONPDSIPSRBBRM= MFPKJQSNRLSMRKEQNRSIQSHFQSPLL>PKM?S3!(DSHOEEP 5DSH?G?H?' OANQSHONHOKKRNMRDSGRKSRJJRKRSPEERJJOSPLL>QN= HPNMODSIR@RSGKRJRNMPKRSQJMPNCPSIQSGPKMRHQGP= CQONRDSQNSKRAOLPSHONSQLS<OLLODSKRHPNMRDSPSGRNP IQS QNRBBQHPHQPDS L)QNIQHPCQONRS IRLS NFERKOS IQ K?A?R?S IRLLPS GKOHRIFKPDS QLS <RNRS OS QLS LOMMOS HFQ L>QJMPNCPSJMRJJPS,SKQBRKQMPDSQLSGKRCCOSGKOGOJMOD LRSGKOGKQRSARNRKPLQM:S"NOERDSHOANOERDSLFOAO RS IPMPS IQS NPJHQMPDS HOIQHRS BQJHPLRD KRJQIRNCP IOEQHQLQODSJMPMOSHQ@QLRSRDSJRSHONQF= APMODS KRAQERS GPMKQEONQPLRS BKPS QS HONQFAQ;S QN HPJOSIQSHOEFNQONRSLRAPLRSIRQS<RNQDSOHHOKKRK: QNIQHPKRSPNH8RSLRSARNRKPLQM:SIRLSHONQFARSNON OBBRKRNMRDS PLS BQNRS IQS GOMRKS MKPJBRKQKRS PIS RN= MKPE<QDSGKOS7FOMPDSQLS<RNRDSQNSHPJOSIQSPAAQFIQ= HPCQONR;S NRLL>QGOMRJQS IQS PH7FQJMOS PS MQMOLO GRKJONPLRSIPSGPKMRSIQSFNSHONQFARSQNSKRAQER IQS HOEFNQONRS IRQS <RNQDS OHHOKKRS GKOIFKKRD OLMKRSPLLPSIQH8QPKPCQONRSIQS7FRJM>FLMQEODSR SPKM? 5+#DSHOEEPS5DSLRMM?SBDSHOI?SHQ@?DS7FRLLPSIRLSHO= NQFARS NONS PH7FQKRNMRS IQS HFQS PLS JRHONIO HOEEPSIRLLPSERIRJQEPSIQJGOJQCQONRSNOKEP= MQ@P'DSL>RJGKRJJPSIQH8QPKPCQONRSIQSP@RKSGKRJO @QJQONRSIRLLPSGRKQCQPSIQSJMQEP; L>QJMPNCPDSNRLSHPJOSIQSGKRJRNMPCQONRSIPSGPKMR IQS FNS EQNOKRNNRDS IO@K:S RJJRKRS JOMMOJHKQMMP IPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSIRLSAQFIQHR MFMRLPKRDSIPSIRGOJQMPKRSQNSHOGQPSHONBOKER; QNSHPJOSIQSQJMPNCPSGKRJRNMPMPSHONAQFNMPERNMR IPSGQ SJOAARMMQDSIR@RSRJJRKRSQNIQHPMOSHOLFQ H8RS P<<QPS L>RJHLFJQ@PS BPHOLM:S IQS BOKEFLPKR R@RNMFPLQSOBBRKMRSQNSPFERNMO; NONSJPK:SGOJJQ<QLRSMKPJBRKQKRSL>QEEO<QLRSPSJOA= ARMMOS IQ@RKJOS IPS 7FRLLOS H8RS JOMMOJHKQ@R L>QJMPNCP; PLL>QJMPNCPSIQSGPKMRHQGPCQONRSIR@RSRJJRKRSPL= LRAPMPSHOGQPSIQS@PLQIOSIOHFERNMOSIQSQIRNMQM: IRLSHONHOKKRNMRSRDSJRSNRHRJJPKQODS@PLQIPSIO= HFERNMPCQONRSHOEGKO@PNMRSQSGOMRKQSOSLPSLRAQM= MQEPCQONRS IRLLOS JMRJJOS "PIS RJ?S GKOHFKP JGRHQPLRSOSHRKMQBQHPMOSHPERKPLRSQNSHPJOSIQSJO= HQRM:'; HONSL>QJMPNCPSIQSGPKMRHQGPCQONRDSIPSGKRJRN= MPKJQSQNS<FJMPSH8QFJPDSJRNCPSJRANQSIQSKQHONO= JHQERNMODSIR@RSRJJRKRSIRGOJQMPMOSPJJRANO HQKHOLPKRSNONSMKPJBRKQ<QLRDSQNMRJMPMOSPLLRS OJMR 9MPLQPNRSJ?G?P? DSMKPEQMRSHFQSRBBRMMFPKRSQLS@RKJP= ERNMOSIRLLPSHPFCQONRS"RISQNSHONMOSGKRCCOSIQ PAAQFIQHPCQONR'DSQNSKPAQONRSIQSFNSIRHQEOSIRL GKRCCOS<PJRSI>PJMP; PLL)RJMRKNOSIRLLPS<FJMPS@PNNOSPNNOMPMQDSPSHFKP IRLS HPNHRLLQRKRS KQHR@RNMRDS QLS NOERDS GKR@QP QIRNMQBQHPCQONRDS IQS H8QS EPMRKQPLERNMRS GKO@= @RIRSPLSIRGOJQMODSQLSNOERSIRLSAQFIQHRSIRLL)RJR= HFCQONRSRSLPSIPMPSIRLL)FIQRNCPSBQJJPMPSGRKSLP @RNIQMPSPLL>QNHPNMO; LRS<FJMRSJPKPNNOSPGRKMRSPLL)FIQRNCPSJMP<QLQMP GRKSL>QNHPNMOSPLLPSGKRJRNCPSIRALQSQJMPNMQDSLPSHFQ HOEGPKQCQONRS,SNRHRJJPKQPSPQSBQNQSIRLL>PAAQF= IQHPCQONRDSH8RSJPK:SIQJGOJMPSJRHONIOSLRSGKR= JHKQCQONQS IRLL>PKM?S 3!5S H?G?H?;S LPS EPNHPMP GPKMRHQGPCQONRSPLL>QNHPNMODSGRKJONPLERNMRSO PSERCCOSIQSGKOHFKPMOKRSJGRHQPLRDSJRNCPSIO= HFERNMPMOSRSAQFJMQBQHPMOSEOMQ@ODSHOEGOKMRK: L>QNHPERKPERNMOSIQS5 51SIRLLPSHPFCQONRDSH8RD IQS HONMKODS JPK:S QEERIQPMPERNMRS KRJMQMFQMP IOGOSLPSH8QFJFKPSIRLL>QNHPNMODSO@RSL>OBBRKRNMRD KRAOLPKERNMRSGKRJRNMRDSNONSIQ@RNAPSPAAQF= IQHPMPKQO;SNRLSHPJOSIQSFNPSJOLPSQJMPNCPSIQSGPK= MRHQGPCQONRDSOHHOKKRK:SHOEFN7FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S3!5DSHOEEPS-DSGRK HONJRAFQKRSL>PAAQFIQHPCQONRSGKO@@QJOKQP;SS PSNOKEPSIRLL>PKM?S3! SH?G?H?DSQNBPMMQDSP@@RNFMO L>QNHPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOBBRKMR IQSPH7FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSIQSIQRHQ AQOKNQSIPLLPSAPKPDSEPSRJJRSNONSJONOSRBBQHPHQ JRSQLSGKRCCOSOBBRKMOSNONSJFGRKPSIQS5 3S7FRLLO KPAAQFNMOSNRLL>QNHPNMO;SL>PAAQFIQHPCQONRDSGRK= MPNMODS IQ@RKK:S IRBQNQMQ@PS O@RDS IRHOKJQS IQRHQ AQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOBBRKMRSQN PFERNMO;S MPLQSOBBRKMRSGOMKPNNOSRJJRKRSIRGOJQMPMRSGKRJJO LPS.PNHRLLRKQPDSNRLLRSBOKERSIQSHFQSPLL>PKM?S3+5 H?G?H?DSGKRJMPNIOSHPFCQONRSGRKSFNPSJOEEP GPKQSPLSIOGGQOSIRLLPSHPFCQONRS@RKJPMPSGRKSLP GPKMRHQGPCQONRSPLL>QNHPNMO?S9NSHPJOSIQSGKRJRN= MPCQONRSIQSMPLQSOBBRKMRDS@RKK:SQNIRMMPSFNPSAPKP JRHONIOSLRSGKR@QJQONQSIQSHFQSPLL>PKM?S3! SH?G?H?? %RSNRJJFNOSIRALQSOBBRKRNMQSQNSPFERNMOSGPKMR= HQGPSPLLPSAPKPSQNIRMMPSPSNOKEPSIRLL>PKM?S3! D HOEEPS(DSH?G?H?DSL>PAAQFIQHPCQONRSIQ@RNMPSIR= BQNQMQ@PSRS@RKK:SGKONFNHQPMPSPSHPKQHOSIRALQSOB= BRKRNMQS"JPL@OSH8RSKQHOKKPSFNSIOHFERNMPMOSR AQFJMQBQHPMOSEOMQ@O'SLPSGRKIQMPSIRLLPSHPFCQONRD QLSHFQSQEGOKMOS,SMKPMMRNFMOSHOERSKQN@RNQRNMRSP MFMMQS ALQS RBBRMMQS IPLL>RJRHFCQONRS "MPLRS GKRJHKQ= CQONRS@PSKQGOKMPMPSJOLOSQNSHPJOSIQS@RNIQMRSIQ= JGOJMRSPSIRHOKKRKRSIPLL>5SEPKCOS-11 ';S QNSOANQSHPJODSLRSJGRJRSIRLSMKPJBRKQERNMOSHR= IONOSPSHPKQHOSIRLL>PAAQFIQHPMPKQODSHFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM:SRISQSHOJMQSGRKSLPSKRAQJMKP= CQONRSRSMKPJHKQCQONRSIRLSIRHKRMOSNONH8 SGRK LPSHPNHRLLPCQONRSIRLLRSBOKEPLQM:SGKRAQFIQCQR=
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
HOERS QIRNMQBQHPMQDS IRJHKQMMQS RS @PLFMPMQS IPL= L>RJGRKMOSNRLLPSKRLPCQONRDSHONSOANQSR@RNMFPLR JRK@QM SPMMQ@PSRSGPJJQ@PSQNRKRNMRSRS7FOMRSHON= IOEQNQPLQSKRLPMQ@R; LPS@RNIQMPS,SPSHOKGOSRSNONSPSEQJFKP;SR@RNMFPLQ IQBBRKRNCRSIQSEQJFKPSNONSGOMKPNNOSIPKSLFOAO PISPLHFNSKQJPKHQERNMODSQNIRNNQM:SOSKQIFCQONR IRLSGKRCCO;SLPS@RNIQMPSBOKCPMPSNONS,SJOAARMMP PLLRSNOKERSHONHRKNRNMQSLPSAPKPNCQPSGRKS@QCQSO EPNHPNCPSIQS7FPLQM:DSN SGOMK:SRJJRKRSKR@O= HPMPSGRKSPLHFNSEOMQ@O?S.ONJRAFRNMRERNMR L>RJQJMRNCPS IQS R@RNMFPLQS @QCQDS EPNHPNCPS IQ 7FPLQM:SOSIQBBOKEQM:SIRLLPSHOJPS@RNIFMPDSONRKQ IQS7FPLJQPJQSARNRKRS=SQ@QSHOEGKRJQDSPISRJRE= GQODS7FRLLQSFK<PNQJMQHQSO@@RKOSIRKQ@PNMQSIPLLP R@RNMFPLRSNRHRJJQM:SIQSPIRAFPERNMOSIQSQE= GQPNMQSPLLRSLRAAQS@QARNMQDSJGRJRSHONIOEQNQPLQ IRLL>PNNOS QNS HOKJOS RS IRLL>PNNOS GKRHRIRNMR NONSGPAPMRSIPLSIR<QMOKRS=SGRKS7FPLJQPJQSEO= MQ@OSNONSHONJQIRKPMQDSPNH8RSJRSOHHFLMQSRSHO= EFN7FRS NONS R@QIRNCQPMQS QNS GRKQCQPDS NON GOMKPNNOSIPKSLFOAOSPISPLHFNSKQJPKHQERNMODSQN= IRNNQM:SOSKQIFCQONRSIRLSGKRCCODSRJJRNIOJQSIQ HQ SMRNFMOSHONMOSNRLLPS@PLFMPCQONRSIRQS<RNQ; L>PAAQFIQHPMPKQOSIO@K:S@RKJPKRSLPSIQBBRKRNCP IRLSGKRCCOS"IRMKPMMPSIPLSGKRCCOSIQSPAAQFIQHP= CQONRSLPSHPFCQONRSIQSHFQSJOGKP'SRNMKOSFNSMRK= EQNRSEPJJQEOSIQSJRJJPNMPSAQOKNQSIPLLPSIPMP IQSPAAQFIQHPCQONRSERIQPNMRSPJJRANOSHQKHO= LPKRSNONSMKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS9MPLQPNR J?G?P? S"7FPLOKPSQLSGKOHRIQERNMOSJQSBONIQSJF HKRIQMOS BONIQPKQOS RS L>PAAQFIQHPMPKQOS NONS QN= MRNIPSP@@PLRKJQSIRLLPSBPHOLM:SIQSJF<RNMKPKRSNRL HONMKPMMODS PLL>PJJRANOS HQKHOLPKRS JPK:S JOJMQ= MFQMODSR SPKM?S 5DSHOEEPS DS$?/AJ?S5SJRMMRE= <KRS 5##(DS N?S (!3DS QLS GPAPERNMOS IQKRMMOS PLLP <PNHPSHKRIQMKQHRDSNRQSLQEQMQSIRLSHKRIQMOSPCQONPMO GRKSHPGQMPLRDSQNMRKRJJQSRSJGRJRSHONSHOLLOHP= CQONRSGKQ@QLRAQPMPDSRNMKOSLOSJMRJJOSMRKEQNRSR IRMKPMMOSFNSPHHPNMONPERNMOSGRKSJGRJRSNRLLP EQJFKPSH8RSJPK:SQNIQHPMPSIPLSA?R?';SQNSEPN= HPNCPDS JQS GKO@@RIRK:S PS IQH8QPKPKRS LPS IRHP= IRNCPSIPLL>PAAQFIQHPCQONRDSPSNOKEPSIRLL>PKM? 3!+SH?G?H?; JOLMPNMOS PLL>RJQMOS IRALQS PIREGQERNMQS GKRHR= IRNMQDSIRLLPSGKOIFCQONRSIQSPAAQOKNPMQSHRKMQBQHPMQ HPMPJMPLQSRSIQSPAAQOKNPMQSHRKMQBQHPMQSKRLPMQ@QSPLLR QJHKQCQONQS RS MKPJHKQCQONQS RBBRMMFPMRS JFLS <RNR NONH8 SIRLSGPAPERNMOSIRLLRSJGRJRSIQSMKPJBR= KQERNMODS IPS RBBRMMFPKJQS HONMRJMFPLERNMRS P 7FRLLOSIRLLPSIQBBRKRNCPSIRLSGKRCCOSIQSPAAQFIQ= HPCQONRDS NRLLPS EQJFKPS IRLS -1 S IQS 7FRJM>FL= MQEODSJPK:SRERJJOSQLSIRHKRMOSIQSMKPJBRKQERNMOD PQSJRNJQSIRLL>PKM?S3! SH?G?H?; &64*0S6//6S & /9.9* S94S &4 9042S$2//6S 24$9*6 JFSQEGFLJOSIRLSGKOHRIRNMRDSJQPSGKRIQJGOJMO L>P@@QJOS IQS @RNIQMPDS IPS GF<<LQHPKRS PLL>PL<O IRLL>&BBQHQO;
SVKJNSGVNTLK6TRVUVLIULUV(NTH@RNLS@TOTVU VSNPB /++0VKRMBVKTCB'VMUOVHUMULTHRVLREEUPPRGVLTS MSPSVIJ@@OTKTP<V TQVREQTVKSLRGVIUNVJQSVLROSVCROPSGVMUOOSVINUA LUQPUV RNMTQSQFSGV ULKOJLUV OUV QRPUGV LJV MTV JQ :JRPTMTSQRVMTVTQDRNHSFTRQUVSVMTDDJLTRQUVORKSOU SVLKUOPSVMUOVKNUMTPRNUGVIJ@@OTKTP<VMSVUDDUPPJSNLT SOHUQRV:JSNSQPSKTQ:JUVETRNQTVINTHSVMUOVPUNA HTQUV IUNV OSV INULUQPSFTRQUV MUOOUV RDDUNPUV R MUOOSVMSPSVMUOO>TQKSQPR9 TQVREQTVKSLRGVIUNVJQSVLROSVCROPSGVMUOOSVINUA LUQPUVRNMTQSQFSGVULKOJLUVOUVQRPUGVLJVJQSVNTCTA LPSVIUNTRMTKSGVIJ@@OTKTP<VMSVUDDUPPJSNLTVSOHUQR :JSNSQPSKTQ:JUVETRNQTVINTHSVMUOVPUNHTQUVIUN OSV INULUQPSFTRQUV MUOOUV RDDUNPUV RV MUOOSV MSPS MUOO>TQKSQPR9 TQVREQTVKSLRGVIUNVJQSVLROSVCROPSGVMUOOSVINUA LUQPUVRNMTQSQFSGVULKOJLUVOUVQRPUGVUVMUOOSVNUA OSFTRQUV MTV LPTHSV MUOO5ULIUNPRV LJV JQV LTPR ?QPUNQUPVTQMTCTMJSPRVSTVLUQLTVMUOO5SNPBV7+)VPUN MTLIBVSPPBVKBIBKBVUVMTVKJTV$VMSPSVQRPTFTSVTQV3SQA KUOOUNTSGVSOHUQRV:JSNSQPSKTQ:JUVETRNQTVINTHS MUOVPUNHTQUVIUNVOSVINULUQPSFTRQUVMUOOUVRDDUNPU RVMUOOSVMSPSVMUOO5TQKSQPR9 TOVKNUMTPRNUVINRKUMUQPUVIJ GVTQROPNUGVMSNUVIJ@A @OTKTP<VMUOOSVINULUQPUVRNMTQSQFSGVSVLJSVKJNS UMVRCUVORVNTPUQESVRIIRNPJQR SVLJUVLIULUV(NTH@RNLS@TOTVU VSNPBV/++0VKRMB KTCB'GVKRQVIJ@@OTKTP<VHJNSNTSGVMSVUDDUPPJSNLTVQUT 3RHJQTV MTV 1SHUFTSV2UNHUV UV MTV J@TKSFTRQU MUEOTVTHHR@TOTGVSOHUQRV:JSNSQPSKTQ:JUVETRNQT INTHSVMUOVPUNHTQUVIUNVOSVINULUQPSFTRQUVMUOOU RDDUNPUVRVMUOOSVMSPSVMUOO>TQKSQPR9 SVLJUVLIULUV(NTH@RNLS@TOTVU VSNPBV/++0VKRMB KTCB'GVSVJOPUNTRNTVDRNHUVMTVIJ@@OTKTP<VMSOVHUMUA LTHRVINULKUOPUGVMSVULUEJTNLTVSOHUQRV:JSNSQA PSKTQ:JUV ETRNQTV INTHSV MUOV PUNHTQUV IUNV OS INULUQPSFTRQUVMUOOUVRDDUNPUVRVMUOOSVMSPSVMUOA O>TQKSQPR9 OSV IJ@@OTKTP<V HJNSNTSV UV O5JOPUNTRNUV IJ@@OTKTP< INULKUOPSVLRQRVMTK6TSNSPUVLTQVM5RNSVQRQVQUA KULLSNTUVSTVDTQTVMUOO5ULIUNT@TOTP<VMUOOSVCUQMTPS9V MUOOSV INRCSV MUOOSV IJ@@OTKTP<V UOUPPNRQTKSV UV S HUFFRVLPSHISV VMSVMUIRLTPSNLTVTQVKSQKUOOUNTS SOHUQRVMTUKTVETRNQTVINTHSVMUOOUVCUQMTPUV VLTS DSPPRVKSNTKRVSOVKNUMTPRNUVINRKUMUQPUVRVLJNNRA ESQPUB 1SHUFTSV2UNHUGVO V/.B07B/07/ 4: 7,-706:-644 6/60, 7836 ?3?4V=,=3 ?48?V? 4#?1?;&? ;**?,4V-?V*=8-?2;V-?V#=8?V? 4#?1?V A= V;&2BV. "V3B B3B ,?V&=8-=V8424V3 = ?OVETJMTKUVMUOO5ULUKJFTRQTVTHHR@TOTSNTG TQVNUOSFTRQUVSOOSV.180*:3 :% %&& : * *2 KRQVRNMTQSQFSVNULSVSOO5JMTUQFSVMUOV/.B07B7/G 6SV MTLIRLPRV OSV CUQMTPSV SOO5TQKSQPRGV IUN O5JMTUQFSV MUOV 0 B0 B7/GV MUOV LUEJUQPUV @UQU THHR@TOUGVQUOORVLPSPRVMTVDSPPRVUVMTVMTNTPPRVTQVKJT ULLRVLTVPNRCSGV:JSOUVNTLJOPSVMSOOSVIUNTFTSVSEOT SPPTVMUOVDSLKTKRORVMUOO5ULUKJFTRQUVTHHR@TOTSNUG KJTVLTVDSVTQPUENSOUVNTDUNTHUQPRVSQK6UVTQVNUOSA FTRQUVSMVUCUQPJSOTVS@JLTVUMTOTFTGVK6UGVOSMMRCU QUVLJLLTLPRQRVTVINULJIIRLPTGVIRPNSQQRVULLUNU LSQSPTVRVKRQMRQSPTVMSOO5SEETJMTKSPSNTRVUQPNRVTO PUNHTQUVMTV7/0VETRNQTVMSOOSVQRPTDTKSFTRQUVMUO MUKNUPRVMTVPNSLDUNTHUQPR AV ,859: -7: : 7-6946: 73-7#7/8 -6449:.7639:.18.1765 :-7:,3: 9$$1709582:083 -6/5739 7836: 9$759 78362: 08(.8/58: -9 .7938:561192:.7938:.17(8:6:.7938:/6083-82 -7:08(.46//7#7:( *:481-7:+ %2:083:0815746 -7:.6157363 92:,$70958:364:!8(,36:-7: 49 593792:9449:!83519-9: 73-7392:063/758:364 ! :-64:.16-6558:!8(,36:94: 8 478:%)2 .*449: ))2:0956 8179: )2:049//6:%2:#937:"2'2 163-759: 6,18: % 2") +*"&&2&&: ,?V&=8-=V;834&;V8424V3 =V?1V B=B ;V,2;#?1?24V3 =V1;V*=8-?2; ;**=8 ;VV;11=V348-? ?48?V3 = V,= 484 V*=8-?2;V; 1?V?83;82? ULLSVMUCUVSCUNVOJRERVSOVINUFFRVLRINSVTQMTA KSPRVMTVUJNRV%7B 00G009 OUVRDDUNPUVTQVSJHUQPRGVSVIUQSVMTVTQSHHTLLT@TA OTP<GV QRQV MUCRQRV ULLUNUV TQDUNTRNTV SOV . V MUO INUFFR9 REQJQRGV STV LUQLTV MUOO>SNPBV .+"GV KRHHSV 7G KBIBKBGVPNSQQUVTOVMU@TPRNUGV$VSHHULLRVSVDRNHJA OSNUV RDDUNPUV SOO>TQKSQPRV IUNLRQSOHUQPUGV S HUFFRVMTVHSQMSPSNTRVHJQTPRVMTVINRKJNSVLIUA KTSOUVRVMTVINRKJNSPRNUVOUESOUGVSQK6UVSVQRNHS MUOO>SNPBV.+"GVKRHHSV)GVKBIBKBV(TOVINRKJNSPRNU OUESOUVMRCN<GVTQVREQTVKSLRGVULLUNUVHJQTPRVMT HSQMSPRVLIUKTSOUVNTLJOPSQPUVMSVSPPRVIJ@@OTKR RVLKNTPPJNSVINTCSPSVSJPUQPTKSPSGVQRQVVULLUQMR LJDDTKTUQPUV O>RNMTQSNTRV HSQMSPRV SOOUV OTPT9V QUOA O>TIRPULTVMTVKJTVSOVKTPSPRVSNPBV.+"VKRHHSV)VTO HSQMSPRVLIUKTSOUVNTLJOPSQPUVMSVSPPRVIJ@@OTKR RVLKNTPPJNSVINTCSPSVSJPUQPTKSPSVMRCN<VULLUNU MUIRLTPSPRV KRQPULPJSOHUQPUV SOOSV MTK6TSNSA FTRQUVMUOVQRHTQSPTCRVMUOOSVIUNLRQSGVMSVUDDUPA PJSNLTVQUOVVPUNHTQUVMTVKJTVSOO>SNPBV.%)GVKRHHS
7GVKBIBKB' REQTVKRQKRNNUQPUGVIUNVULLUNUVSHHULLRVSOO>TQA KSQPRGVMUCUVINULUQPSNUVTLPSQFSVMTVISNPUKTISA FTRQUGVTQVNUEROSVKRQVTOV@ROORGVNUKSQPUGVSVIUQS MTV TQUDDTKSKTSGV O>TQMTKSFTRQUV MUOV QJHUNRV MT NBEBUBV MUOOSV INRKUMJNSGV TOV @UQUV RV TOV ORPPRV KJT O>TLPSQFSVLPULLSV$VNTDUNTPSGVTOVINUFFRVINRIRLPRG OUVINRINTUVEUQUNSOTP<V(QRHUGVKREQRHUGVOJRER UV MSPSV MTV QSLKTPSGV KRMTKUV DTLKSOUG NULTMUQFS MRHTKTOTRGVLPSPRVKTCTOUVUGVLUVKRQTJA ESPRGV NUETHUV ISPNTHRQTSOUV DNSV TV KRQTJET9V TQ KSLRVMTVKRHJQTRQUVOUESOUVMUTV@UQTGVRKKRNNUN< TQMTKSNUVSQK6UVOUVEUQUNSOTP<VMUOVKRQTJEUVQRQ RDDUNUQPUGV SOV DTQUV MTV IRPUNV PNSLDUNTNUV SMV UQA PNSH@TGVINRV:JRPSGVTOV@UQUGVTQVKSLRVMTVSEETJMTA KSFTRQU9V QUOO>TIRPULTV MTV SK:JTLPRV SV PTPROR IUNLRQSOUVMSVISNPUVMTVJQVKRQTJEUVTQVNUETHU MTV KRHJQTRQUV MUTV @UQTGV RKKRNNUV INRMJNNUG ROPNUVSOOSVMTK6TSNSFTRQUVMTV:JULP>JOPTHRGVU VSNPB 7+"GVKRHHSV7GVOUPPBVDGVKRMBVKTCBGV:JUOOSVMUOVKRA QTJEUV QRQV SK:JTNUQPUV MTV KJTV SOV LUKRQMR KRHHSVMUOOSVHUMULTHSVMTLIRLTFTRQUVQRNHSA PTCS'GVO>ULINULLSVMTK6TSNSFTRQUVMTVSCUNVINULR CTLTRQUVMUOOSVIUNTFTSVMTVLPTHS9 O>TLPSQFSGVQUOVKSLRVMTVINULUQPSFTRQUVMSVISNPU MTV JQV HTQRNUQQUGV MRCN<V ULLUNUV LRPPRLKNTPPS MSTVEUQTPRNTGVINUCTSVSJPRNTFFSFTRQUVMUOVETJMTKU PJPUOSNUGVMSVMUIRLTPSNUVTQVKRITSVKRQDRNHU9 TQVKSLRVMTVTLPSQFSVINULUQPSPSVKRQETJQPSHUQPU MSVIT VLREEUPPTGVMUCUVULLUNUVTQMTKSPRVKROJT K6UV S@@TSV O>ULKOJLTCSV DSKROP<V MTV DRNHJOSNU UCUQPJSOTVRDDUNPUVTQVSJHUQPR9 QRQVLSN<VIRLLT@TOUVPNSLDUNTNUVO>THHR@TOUVSVLREA EUPPRV MTCUNLRV MSV :JUOORV K6UV LRPPRLKNTCU O>TLPSQFS9 SOO>TLPSQFSVMTVISNPUKTISFTRQUVMUCUVULLUNUVSOA OUESPSVKRITSVMTVCSOTMRVMRKJHUQPRVMTVTMUQPTP< MUOVKRQKRNNUQPUVUGVLUVQUKULLSNTRGVCSOTMSVMRA KJHUQPSFTRQUVKRHINRCSQPUVTVIRPUNTVRVOSVOUETPA PTHSFTRQUV MUOORV LPULLRV (SMV ULBV INRKJNS LIUKTSOUVRVKUNPTDTKSPRVKSHUNSOUVTQVKSLRVMTVLRA KTUP<'9 KRQV O>TLPSQFSV MTV ISNPUKTISFTRQUGV MSV INULUQA PSNLTVTQV@JLPSVK6TJLSGVLUQFSVLUEQTVMTVNTKRQRA LKTHUQPRGVMUCUVULLUNUVMUIRLTPSPRVSLLUEQR KTNKROSNUVQRQVPNSLDUNT@TOUGVTQPULPSPRVSOOUV RLPU ?PSOTSQUVLBIBSB GVPNSHTPUVKJTVUDDUPPJSNUVTOVCUNLSA HUQPRVMUOOSVKSJFTRQUV(UMVTQVKRQPRVINUFFRVMT SEETJMTKSFTRQU'GVTQVNSETRQUVMTVJQVMUKTHRVMUO INUFFRV@SLUVM>SLPS9 SOO>ULPUNQRVMUOOSV@JLPSVCSQQRVSQQRPSPTGVSVKJNS MUOV KSQKUOOTUNUV NTKUCUQPUGV TOV QRHUGV INUCTS TMUQPTDTKSFTRQUGV MTV K6TV HSPUNTSOHUQPUV INRCA CUMUVSOVMUIRLTPRGVTOVQRHUVMUOVETJMTKUVMUOO>ULUA KJFTRQUVUVOSVMSPSVMUOO>JMTUQFSVDTLLSPSVIUNVOS CUQMTPSVSOO>TQKSQPR9 OUV@JLPUVLSNSQQRVSIUNPUVSOO>JMTUQFSVLPS@TOTPS IUNVO>TQKSQPRVSOOSVINULUQFSVMUEOTVTLPSQPTGVOSVKJT KRHISNTFTRQUV$VQUKULLSNTSVSTVDTQTVMUOO>SEETJA MTKSFTRQUGVK6UVLSN<VMTLIRLPSVLUKRQMRVOUVINUA LKNTFTRQTV MUOO>SNPBV .%7V KBIBKB9V OSV HSQKSPS ISNPUKTISFTRQUVSOO>TQKSQPRGVIUNLRQSOHUQPUVR SVHUFFRVMTVINRKJNSPRNUVLIUKTSOUGVLUQFSVMRA KJHUQPSPRVUVETJLPTDTKSPRVHRPTCRGVKRHIRNPUN< O>TQKSHUNSHUQPRVMTV7 70VMUOOSVKSJFTRQUGVK6UG MTV KRQPNRGV LSN<V THHUMTSPSHUQPUV NULPTPJTPS MRIRVOSVK6TJLJNSVMUOO>TQKSQPRGVRCUVO>RDDUNUQPUG NUEROSNHUQPUVINULUQPUGVQRQVMTCUQESVSEETJA MTKSPSNTR9VQUOVKSLRVMTVJQSVLROSVTLPSQFSVMTVISNA PUKTISFTRQUGVRKKRNNUN<VKRHJQ:JUVSIIRNPSNU JQVNTSOFRVHTQTHRGVU VSNPBV.%7GVKRHHSV/GVIUN KRQLUEJTNUVO>SEETJMTKSFTRQUVINRCCTLRNTS9 SVQRNHSVMUOO>SNPBV.%!VKBIBKBGVTQDSPPTGVSCCUQJPR O>TQKSQPRGVIRLLRQRVULLUNUVINULUQPSPUVRDDUNPU MTVSK:JTLPRVUQPNRVTOVPUNHTQUVIUNUQPRNTRVMTVMTUKT ETRNQTVMSOOSVESNSGVHSVULLUVQRQVLRQRVUDDTKSKT LUVTOVINUFFRVRDDUNPRVQRQVLJIUNSVMTV7 .V:JUOOR NSEETJQPRVQUOO>TQKSQPR9VO>SEETJMTKSFTRQUGVIUNA PSQPRGV MTCUQPSV MUDTQTPTCSV RCUGV MUKRNLTV MTUKT ETRNQTGVQRQVLTSQRVLPSPUVINULUQPSPUVRDDUNPUVTQ SJHUQPR9 PSOTVRDDUNPUVIRPNSQQRVULLUNUVMUIRLTPSPUVINULLR OSV3SQKUOOUNTSGVQUOOUVDRNHUVMTVKJTVSOO>SNPBV.+7 KBIBKBGVINULPSQMRVKSJFTRQUVIUNVJQSVLRHHS ISNTVSOVMRIITRVMUOOSVKSJFTRQUVCUNLSPSVIUNVOS ISNPUKTISFTRQUVSOO>TQKSQPRBVV?QVKSLRVMTVINULUQA PSFTRQUVMTVPSOTVRDDUNPUGVCUNN<VTQMUPPSVJQSVESNS LUKRQMRVOUVINUCTLTRQTVMTVKJTVSOO>SNPBV.%!VKBIBKB ,UVQULLJQRVMUEOTVRDDUNUQPTVTQVSJHUQPRVISNPUA KTISVSOOSVESNSVTQMUPPSVSVQRNHSVMUOO>SNPBV.%!G KRHHSV)GVKBIBKBGVO>SEETJMTKSFTRQUVMTCUQPSVMUA DTQTPTCSVUVCUNN<VINRQJQKTSPSVSVKSNTKRVMUEOTVRDA DUNUQPTV(LSOCRVK6UVNTKRNNSVJQVMRKJHUQPSPRVU ETJLPTDTKSPRVHRPTCR'VOSVIUNMTPSVMUOOSVKSJFTRQUG TOVKJTVTHIRNPRV$VPNSPPUQJPRVKRHUVNTQCUQTUQPUVS PJPPTVEOTVUDDUPPTVMSOO>ULUKJFTRQU9 TQVREQTVKSLRGVOUVLIULUVMUOVPNSLDUNTHUQPRVKUA MRQRVSVKSNTKRVMUOO>SEETJMTKSPSNTRGVKJTVNULPSQR NTLUNCSPUVOUVSPPTCTP<VUMVTVKRLPTVIUNVOSVNUETLPNSA FTRQUVUVPNSLKNTFTRQUVMUOVMUKNUPRVQRQK6 VIUN OSVKSQKUOOSFTRQUVMUOOUVDRNHSOTP<VINUETJMTFTUA CROTVENSCSQPTVLJEOTVTHHR@TOTVSK:JTLPSPT9 $VIRLLT@TOUGVIUNVTVISNPUKTISQPTVSOOUVSLPUGVRPPUA QUNUVHJPJTVSVPSLLTVUVKRQMTFTRQTVUKRQRHTK6U INULPS@TOTPTVMSVREQTVLTQEROSV@SQKSVSMUNUQPU INRPRKROORV ;#? VIUNVOSVKRQKULLTRQUVMTVHJPJT SEOTVSEETJMTKSPSNT9VO>UOUQKRVMUOOUV@SQK6UVSMUA
NUQPTVSOO>TQTFTSPTCSVIUNVTOV2NT@JQSOUVMTV1SHUFTS 2UNHUV$VNUIUNT@TOUVINULLRVOSV3SQKUOOUNTS9 ?1V B=BV ?,,;G IUNVOSVINULUQPSFTRQUVINULLRVOSV3SQKUOOUNTS MUOOUV=LUKJFTRQTV?HHR@TOTSNTVMUOOUVTLPSQFUVMT ISNPUKTISFTRQUVSOOSVCUQMTPSVSTVIJ@@OTKTVTQKSQPT MUOVKRHIUQMTRVTHHR@TOTSNUVLRINSVTQMTKSPRVU HUEOTRVMULKNTPPRVQUOOSVNUOSFTRQUVMUOO>ULIUNPR TQV SPPTGV SOOSV :JSOUV LTV DSV ULINULLRV NTK6TSHRG :JSOUVISNPUVTQPUENSQPUVUVLRLPSQFTSOUVMUOO5RNA MTQSQFSVMTVCUQMTPSGVPUNHTQUVDTQRVSOOUVRNUV7)B00 MUOVETRNQRV0.B0 B/07/GVKRQVOUVHRMSOTP<VUVIUN TOVINUFFRVHTQTHRVMTVKJTVLRINS9 IUNVTOVETRNQRV&"*&"*%&+%2:816: 2)& UVLUEEBGVOS CUQMTPSVSTVIJ@@OTKTVTQKSQPTVMUOVKRHIUQMTRVTHA HR@TOTSNUVLRINSVTQMTKSPRGVKRQVOUVHRMSOTP<VU IUNVTOVINUFFRV@SLUVMTVKJTVTQQSQFT9 ,2;#?1?,3=GV;12&=,?5GV3 =V1;V*=8-?2;V ;**=8 ;V;11=V,= =82?V348-? ?48? O5THHR@TOUVCTUQUVIRLPRVTQVCUQMTPSVQUOORVLPSPR MTVDSPPRVUVMTVMTNTPPRVTQVKJTVLTVPNRCSGVKRLTVKRHU TMUQPTDTKSPRGVMULKNTPPRVUVCSOJPSPRVMSOO>ULIUNPR QUOOSVNUOSFTRQUGVKRQVREQTVUCUQPJSOUVLUNCTP VSPA PTCSVUVISLLTCSVTQUNUQPUVUV:JRPUVKRQMRHTQTSOT NUOSPTCU9 OSVCUQMTPSV$VSVKRNIRVUVQRQVSVHTLJNS9VUCUQPJSOT MTDDUNUQFUVMTVHTLJNSVQRQVIRPNSQQRVMSNVOJRER SMVSOKJQVNTLSNKTHUQPRGVTQMUQQTP<VRVNTMJFTRQU MUOVINUFFR9VOSVCUQMTPSVDRNFSPSVQRQV$VLREEUPPS SOOUVQRNHUVKRQKUNQUQPTVOSVESNSQFTSVIUNVCTFTVR HSQKSQFSVMTV:JSOTP<GVQUVIRPN<VULLUNUVNUCRA KSPSVIUNVSOKJQVHRPTCRBVVV3RQLUEJUQPUHUQPU O>ULTLPUQFSV MTV UCUQPJSOTV CTFTGV HSQKSQFSV MT :JSOTP<VRVMTDDRNHTP<VMUOOSVKRLSVCUQMJPSGVRQUNT MTV:JSOLTSLTVEUQUNUVATCTVKRHINULTGVSMVULUHA ITRGV:JUOOTVJN@SQTLPTKTVRCCUNRVMUNTCSQPTVMSOOS UCUQPJSOUVQUKULLTP<VMTVSMUEJSHUQPRVMTVTHA ITSQPTVSOOUVOUEETVCTEUQPTGVLIULUVKRQMRHTQTSOT MUOO>SQQRVTQVKRNLRVUVMUOO>SQQRVINUKUMUQPUVQRQ ISESPUVMSOVMU@TPRNUAVIUNV:JSOLTSLTVHRPTCRVQRQ KRQLTMUNSPTGV SQK6UV LUV RKKJOPTV UV KRHJQ:JU QRQVUCTMUQFTSPTVTQVIUNTFTSGVQRQVIRPNSQQRVMSN OJRERVSMVSOKJQVNTLSNKTHUQPRGVTQMUQQTP<VRVNTMJA FTRQUV MUOV INUFFRGV ULLUQMRLTV MTV KT V PUQJPR KRQPRVQUOOSVCSOJPSFTRQUVMUTV@UQT9 O>SEETJMTKSPSNTRVMRCN<VCUNLSNUVOSVMTDDUNUQFS MUOVINUFFRV(MUPNSPPSVMSOVINUFFRVMTVSEETJMTKSA FTRQUVOSVKSJFTRQUVMTVKJTVLRINS'VUQPNRVJQVPUNA HTQUVHSLLTHRVMTVLULLSQPSVETRNQTVMSOOSVMSPS MTVSEETJMTKSFTRQUVLJVJQVOT@NUPPRVIRLPSOUVMTVMUA IRLTPRVETJMTFTSNTRVTQPULPSPRVSOVMU@TPRNUVUVNUA KSQPUV TOV QJHUNRV MUOOSV INULUQPUV INRKUMJNS ULUKJPTCSV(:JSORNSVTOVINRKUMTHUQPRVLTVDRQMTVLJ KNUMTPRV DRQMTSNTRV UV O>SEETJMTKSPSNTRV QRQV TQA PUQMSVSCCSOUNLTVMUOOSVDSKROP<VMTVLJ@UQPNSNUVQUO KRQPNSPPRGV SOO>SLLUEQRV KTNKROSNUV LSN<V LRLPTA PJTPRGVU VSNPBV!7GVKRHHSV!GV-B1ELBV7VLUPPUHA @NUV 7"")GV QBV )%.GV TOV ISESHUQPRV MTNUPPRV SOOS @SQKSVKNUMTPNTKUGVQUTVOTHTPTVMUOVKNUMTPRVSFTRQSPR IUNVKSITPSOUGVTQPUNULLTVUVLIULUVKRQVKROORKSA FTRQUVINTCTOUETSPSGVUQPNRVORVLPULLRVPUNHTQUVU MUPNSPPRVJQVSKKSQPRQSHUQPRVIUNVLIULUVQUOOS HTLJNSVK6UVLSN<VTQMTKSPSVMSOVEBUB'9VTQVHSQA KSQFSGV LTV INRCCUMUN<V SV MTK6TSNSNUV OSV MUKSA MUQFSVMSOO>SEETJMTKSFTRQUGVSVQRNHSVMUOO>SNPB .%+VKBIBKB9 LROPSQPRV SOO>ULTPRV MUEOTV SMUHITHUQPTV INUKUA MUQPTGVMUOOSVINRMJFTRQUVMTVSEETRNQSPTVKUNPTDTKSPT KSPSLPSOTVUVMTVSEETRNQSPTVKUNPTDTKSPTVNUOSPTCTVSOOU TLKNTFTRQTV UV PNSLKNTFTRQTV UDDUPPJSPUV LJOV @UQU QRQK6 VMUOVISESHUQPRVMUOOUVLIULUVMTVPNSLDUA NTHUQPRGV MSV UDDUPPJSNLTV KRQPULPJSOHUQPUV S :JUOORVMUOOSVMTDDUNUQFSVMUOVINUFFRVMTVSEETJMTA KSFTRQUGV QUOOSV HTLJNSV MUOV /0 V MTV :JULP>JOA PTHRGVLSN<VUHULLRVTOVMUKNUPRVMTVPNSLDUNTHUQPRG STVLUQLTVMUOO>SNPBV.% VKBIBKB9 -?, 48=V ;824V;11;V ##1?3?2;5V ?8V 8 ?48=V-=11;V*=8-?2;V3 = LJVTHIJOLRVMUOVINRKUMUQPUGVLTSVINUMTLIRLPR O>SCCTLRVMTVCUQMTPSGVMSVIJ@@OTKSNUVSOO>SO@RVMUOA O> DDTKTR9 SVKJNSGVNTLK6TRVUVLIULUV(NTH@RNLS@TOTVU VSNPB /++0VKRMBVKTCB'VMUOVHUMULTHRVLREEUPPRGVLTS MSPSVIJ@@OTKTP< TQV REQTV KSLRGV IUNV JQSV LROSV CROPSGV MUOO5RNMTA QSQFSVMTVCUQMTPSGVLJVMTVJQV:JRPTMTSQRVM5TQDRNA HSFTRQUV SV MTDDJLTRQUV ORKSOUV LKUOPRV ?O -RHSQT AVUVLJVJQSVNTCTLPSVIUNTRMTKSV LKUOPS
;LPU?QDRSIISOPT AGVIJ@@OTKTP<VMSVUDDUPPJSNLTVSOA HUQRV :JSNSQPSKTQ:JUV ETRNQTV INTHSV MUOV PUNA HTQUV IUNV OSV INULUQPSFTRQUV MUOOUV RDDUNPUV R MUOOSVMSPSVMUOO>TQKSQPR9 TQV REQTV KSLRGV IUNV JQSV LROSV CROPSGV MUOO5RNMTA QSQFSVMTVCUQMTPSVUVMUOOSVNUOSFTRQUVMTVLPTHS MUOO5ULIUNPRVLJVJQVLTPRV?QPUNQUPVA BSLPUBUJA EUQTJLBTPAGVMTVKJTV$VMSPSVQRPTFTSVTQV3SQKUOOUNTSG SOHUQRV:JSNSQPSKTQ:JUVETRNQTVINTHSVMUOVPUNA HTQUV IUNV OSV INULUQPSFTRQUV MUOOUV RDDUNPUV R MUOOSVMSPSVMUOO>TQKSQPR9 OSV INRCSV MUOOSV IJ@@OTKTP<V UOUPPNRQTKSV UV S HUFFRVLPSHISVLTSVMUIRLTPSPSVTQVKSQKUOOUNTS SOHUQRVMTUKTVETRNQTVINTHSVMUOOUVCUQMTPU9V ;**=&2= DTQVM>RNSVOUVISNPTVK6UGVRCUVSOO>JMTUQFSVDTLLSPS IUNVOSVKUOU@NSFTRQUVMUOO>TQKSQPRGV:JULPRVQRQ S@@TSVOJRERVIUNV:JSOJQ:JUVHRPTCRGVLTVNTLUNCS MTV SIIOTKSNUV THHUMTSPSHUQPUV UV KTR$V S
:JUOOSV LPULLSV JMTUQFS V O>SNPTKRORV ."7V KRMB INRKBVKTCBGVLUQFSVSOKJQVNTQCTRVTQPUNHUMTRVRVJOA PUNTRNUGVTQV:JUOORVLPULLRVKRQPULPRVLUQPUQMRVOU ISNPTVUVINRCCUMUQMRVLJOOSVMTLIRLTFTRQUVMUOA O>SHHTQTLPNSFTRQUV ETJMTFTSNTSV RV LJOOSV DTLLSA FTRQUVMTVJQSVQJRCSVCUQMTPSB 1SHUFTSV2UNHUGV0 0! /07/ ?3?4V=,=3 ?48?V? 4#?1?;&? ;**?,4V-?V*=8-?2;V-?V#=8?V ? 4#?1?V ? 84&;2?V = V;&2V. "V34 ;V)V3 3 ,?V&=8-=V8424V 36UVTOV TJMTKUVMUOO5=LUKJFTRQUGV QUOOSV.1806-,19:6/60,57#9:7((8$747916 3 *'" &': KRQV RNMTQSQFSV V UHULLSV SOO5JMTUQFS //B0/B/07/V6SVMTLIRLPRVOSVCUQMTPSVLUQFSVTQA KSQPRVMTVIT VORPPTVQUOORVLPSPRVMTVDSPPRVUVMTVMTNTPPR TQVKJTVLTVPNRCSQRVIUNVTOV7)B0 B/07/GVUMV6SVDTLA LSPRV IUNV TOV KSLRV TQV KJTV OSV LPULLSV QRQV S@@TS OJRERV OSV CUQMTPSV KRQV TQKSQPRV MUTV HUMULTHT ORPPTVQUOORVLPSPRVMTVDSPPRVUVMTVMTNTPPRVTQVKJTVLTVPNRA CSQRVIUNVO5JMTUQFSVMUOV/+B0 B/07/9 AV ..9159(6358: 94: .7938: 56119 083:9336//9:08156:6/04,/7#9:/758:73: 93 76518:9: 97-92:4809475 : 19582:17.815958:364 ! :-7:-6558:08(,36:94: 8 478:'2:.9157 06449:)++2:/,$*:%:6:.*449:)++2:/,$:)2:095*: )2 049//6:+2:#937:'2' 6,18:+'* 2 ) AV ..9159(6358:.8/58:94:.7938 .17(8:/758:73: 93: 76518:9: 97-92:4809475 19582:17.815958:364: ! :-7:-6558:08(,36 94: 8 478:'2:.915706449:)++2:/,$*: 2:095*: )2 049//6:+2:#937:' : 6,18:%)*)++2 " AV 80946:/855856558:.8/58:94:.7938 561 8:/758:73: 93: 76518:9: 97-92:4809475 19582:17.815958:364: ! :-7:-6558:08(,36 94: 8 478:'2:.915706449:)++2:/,$*:"2:095*: )2 049//6:+2:#937:' : 6,18:+ *'+ 2) ,?V&=8-=V;834&;V8424V3 =V?1V =V ; ,2;#?1?24V3 =V1;V*=8-?2;V;**?=8=V ;11=V,= =82?V348-? ?48? *=8-?2;V,=8 ;V?83;824 JSQPRVSOOSVCUQMTPSVLUQFSVTQKSQPRGVMSVUDDUPA PJSNLTVSOVINUFFRV@SLUVMTVUJNRV7.B!!%G!)VIUNVTO ORPPRVJQRVUVMTVUJNRV/)B)77G! VIUNVTOVORPPRVMJU UVMTVUJNRV7+B.7!G)%VIUNVTOVORPPRVPNU9V KTSLKJQV RDDUNUQPUGV STV LUQLTV MUOO5SNPBV .+7G KRHHSV 7GV KBIBKBGV PNSQQUV TOV MU@TPRNUGV $V SHA HULLRVSVDRNHJOSNUVRDDUNPUVIUNVO5SK:JTLPRVIUNA LRQSOHUQPUVRVSVHUFFRVMTVINRKJNSPRNUVOUESOUG SQK6UVSVQRNHSVMUOO5SNPBV.+"GVKRHHSV)GVKBIBKB (TOVINRKJNSPRNUVOUESOUVMRCN<GVTQVREQTVKSLRGVULA LUNUVHJQTPRVMTVHSQMSPRVLIUKTSOUVNTLJOPSQPUVMS SPPRVIJ@@OTKRVRVLKNTPPJNSVINTCSPSVSJPUQPTKSPSG QRQVULLUQMRVLJDDTKTUQPUVO5RNMTQSNTRVHSQMSPR SOOUV OTPT9V QUOO5TIRPULTV MTV KJTV SOV KTPSPRV SNPBV .+"G KRHHSV)GVTOVHSQMSPRVLIUKTSOUVNTLJOPSQPUVMS SPPRVIJ@@OTKRVRVLKNTPPJNSVINTCSPSVSJPUQPTKSPS MRCN<V ULLUNUV MUIRLTPSPRV KRQPULPJSOHUQPU SOOSVMTK6TSNSFTRQUVMUOVQRHTQSPTCRVMUOOSVIUNA LRQSGVMSVUDDUPPJSNLTVQUOVPUNHTQUVMTVKJTVSOO5SNPB .%)GVKRHHSV7GVKBIBKB'GVINULUQPSQMRVINULLR OSV3SQKUOOUNTSVMUOOUV=LUKJFTRQTV?HHR@TOTSNTG MTK6TSNSFTRQUGVTQVNUEROSVKRQVTOV@ROORGVKRQPUA QUQPUGVSVIUQSVMTVTQUDDTKSKTSGVO>TQMTKSFTRQUVMUO QJHUNRVMTVNBEBUBVMUOOSVINRKUMJNSGVMUOV@UQUV(U MUOVORPPR'VKJTVO5RDDUNPSVLTVNTDUNTLKUGVMUOVINUFFRG MUOVPUHIRGVMUOVHRMRVMUOVISESHUQPRVUVMTVREQT SOPNRVUOUHUQPRVJPTOUVSOOSVCSOJPSFTRQUVMUOO>RDA DUNPS9 MUPPSV MTK6TSNSFTRQUV MUCUGV SOPNUL GV NUKSNUV OU EUQUNSOTP<V MUOO5RDDUNUQPUV (QRHUGV KREQRHUG OJRERVUVMSPSVMTVQSLKTPSGVKRMTKUVDTLKSOUGVNULTA MUQFS MRHTKTOTRGVLPSPRVKTCTOUVUGVLUVKRQTJESPRG NUETHUVISPNTHRQTSOUVDNSVTVKRQTJET9V TQVKSLRVMTVKRHJQTRQUVOUESOUVMUTV@UQTGVRKKRNA NUN<VTQMTKSNUVSQK6UVOUVEUQUNSOTP<VMUOVKRQTJEU QRQVRDDUNUQPUGVSOVDTQUVMTVIRPUNVPNSLDUNTNUVSMVUQA PNSH@TGVINRV:JRPSGVTOV@UQUGVTQVKSLRVMTVSEETJMTA KSFTRQU9V QUOO5TIRPULTV MTV SK:JTLPRV SV PTPROR IUNLRQSOUVMSVISNPUVMTVJQVKRQTJEUVTQVNUETHU MTV KRHJQTRQUV MUTV @UQTGV RKKRNNUV INRMJNNUG ROPNUVSOOSVMTK6TSNSFTRQUVMTV:JULP5JOPTHRGVU VSNPB 7+"GVKRHHSV7GVOUPPBVDGVKRMBVKTCBGV:JUOOSVMUOVKRA QTJEUV QRQV SK:JTNUQPUV MTV KJTV SOV LUKRQMR KRHHSVMUOOSVHUMULTHSVMTLIRLTFTRQUVQRNHSA PTCS'GVO5ULINULLSVMTK6TSNSFTRQUVMTVSCUNVINULR CTLTRQUVMUOOSVIUNTFTSVMTVLPTHSVUMVULLUNUVKRNA NUMSPSVMSVKRITSVMTVCSOTMRVMRKJHUQPRVMTVTMUQA PTP<VMUOO5RDDUNUQPUVUGVLUVQUKULLSNTRGVMSVCSOTMS MRKJHUQPSFTRQUVKRHINRCSQPUVTVIRPUNTVRVOSVOUA ETPPTHSFTRQUVMUOORVLPULLRV(SMVULBVINRKJNSVLIUA KTSOUV RV KUNPTDTKSPRV KSHUNSOUV TQV KSLRV MT LRKTUP<'9 O5RDDUNPSGVQUOVKSLRVMTVINULUQPSFTRQUVMSVISNPU MTV JQV HTQRNUQQUGV MRCN<V ULLUNUV LRPPRLKNTPPS MSTVEUQTPRNTGVINUCTSVSJPRNTFFSFTRQUVMUOVETJMTKU PJPUOSNUGVMSVSOOUESNUVTQVKRITSVKRQDRNHU9 TQVKSLRVMTVMTK6TSNSFTRQUVINULUQPSPSVKRQETJQA PSHUQPUVMSVIT VLREEUPPTGVMUCUVULLUNUVTQMTKSPR
IOLFQSI8RSP<<QPSL=RJILFJQ@PSBPIOLM9SHQSBOKEF> LPKRSR@RNMFPLQSOBBRKMRSQNSPFERNMO; NONSJPK9SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOSHQ@RKJOSHPS6FRLLOSI8RSJOMMOJIKQ@RSL=OB> BRKMP; L=OBBRKMPS*SQKKR@OIP<QLRDSJPL@OSI8R S4?SQLSAQFHQIR OKHQNQSL=QNIPNMO;S1?SJQPNOSHRIOKJQSIRNMO@RNMQ AQOKNQS HPLLPS JFPS GKRJRNMPCQONRS RS LPS JMRJJP NONSJQPSJMPMPSPIIOLMP; L-OBBRKMPSNONS*SRBBQIPIR S4&SJRSGRK@QRNRSOLMKRSQL MRKEQNRSJMP<QLQMO;S1&SJRS*SQNBRKQOKRSPLSGKRCCO HRMRKEQNPMOSPSNOKEPSHRLL-PKMQIOLOS0"%SRSGQ JOGKPSKQIOKHPMO;SI&SJRSL-OBBRKRNMRSNONSGKRJMP IPFCQONRDSPSERCCOSHQSPJJRANOSIQKIOLPKRSNON MKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS:MPLQPNRSJGP DSQN EQJFKPSNONSQNBRKQOKRSPLSHRIQEOSHRLSGKRCCOSHP LFQSGKOGOJMO; PLL=OBBRKMPDS HPS HRGOJQMPKJQS QNS <FJMPS I8QFJPD JRNCPSJRANQSHQSKQIONOJIQERNMODSHR@RSRJJRKR PLLRAPMOSL=PJJRANOSIQKIOLPKRSGRKSLPSIPFCQONRD IOERSQNNPNCQSQNHQIPMO;SPLL-RJMRKNOSHRLLPS<FJMP @PNNOSPNNOMPMQDSPSIFKPSHRLSIPNIRLLQRKRSKQIR> @RNMRDSQLSNOERDSGKR@QPSQHRNMQBQIPCQONRDSHQSI8Q EPMRKQPLERNMRSGKO@@RHRSPLSHRGOJQMODSQLSNOER HRLS AQFHQIRS HRLL-RJRIFCQONRS RS LPS HPMPS HRL> L-FHQRNCPSBQJJPMPSGRKSL-RJPERSHRLLRSOBBRKMR; LRS<FJMRSJPKPNNOSPGRKMRSPLL-FHQRNCPSBQJJPMP GRKSL-RJPERSHRLLRSOBBRKMRDSPLLPSGKRJRNCPSHRALQ OBBRKRNMQDSO@RSIOEGPKJQ;SNRLSIPJOSHQSEPNIPMP IOEGPKQCQONRSHRLL=OBBRKRNMRSOSHRALQSOBBRKRNMQ L=PAAQFHQIPCQONRS JPK9S IOEFN6FRS HQJGOJMPD BPMMPSJPL@PSL=PGGLQIPCQONRSHRLLRSGKR@QJQONQSHQ IFQSPLL=PKM?S0)1DSIOEEQS1SRS.DSI?G?I?;SQNSIPJOSHQ GQ SOBBRKMRS@PLQHRDSJQSGKOIRHRK9SPSAPKPSJFLL=OB> BRKMPSGQ SPLMPSJRIONHOSQLSJQJMREPSHRLLRSJI8RHR OS <FJMRS JRAKRMRDS BPMMPS JPL@PS L=PGGLQIPCQONR HRLL=PKM?S0).DSIOEEPS1DSI?G?I?;SSSSS QNS PLMRKNPMQ@PS PLLRS EOHPLQM9S HQS IFQS JOGKPDS LP GKRJRNMPCQONRSHRLLRSOBBRKMRSHQSPI6FQJMOSGF P@@RNQKRS PNI8RS ERHQPNMRS L=PIIKRHQMODS P ERCCOSHQS<ONQBQIOSOSHRGOJQMOSJFSIONMOSGOJMPLR OS<PNIPKQOSQNMRJMPMOSPLLPSGKOIRHFKPSRJRIFMQ@P RHS PIIRJOS OS HPS PIIRNHRKJQDS NRLS JRIONHO IPJODSGKRJJOSQLS ONMRSHRQS PJI8QSHQS(QRNP (?G?7? S S BQLQPLRS HQS ,PERCQPS +RKERDS HQS FNP JOEEPSGPKQSPHSFNSHRIQEOSHRLSGKRCCOSI8RSJQ QNMRNHRSOBBKQKRSRSERHQPNMRSLPSIOEFNQIPCQONRD PSERCCOSMRLRBP SOSGOJMPSRLRMMKONQIPDSNRLSKQ> JGRMMOSHRLLPSNOKEPMQ@PDSPNI8RSKRAOLPERNMPKRD IONIRKNRNMRS LPS JOMMOJIKQCQONRDS LPS MKPJEQJ> JQONRSRSLPSKQIRCQONRSHRQSHOIFERNMQSQNBOKEPMQIQ RSMRLRMKPJERJJQDSHQSFNPSHQI8QPKPCQONRSIONMR> NRNMRSLRSQNHQIPCQONQSHQSIFQSPLLOSJMRJJOSPKM?S0)4 I?G?I?;SHRMMOSPIIKRHQMOSHR@RSP@RKRSLFOAOSNON OLMKRSIQN6FRSAQOKNQSGKQEPSHRLLPSJIPHRNCPSHRL MRKEQNRSRNMKOSQLS6FPLRSGOJJONOSRJJRKRSGKOGO> JMRSLRSOBBRKMRSH-PI6FQJMO;SBQNSH=OKPSJQSGKR@RHR I8RDS6FPNHOSL-OBBRKMPS*SGKRJRNMPMPSIONSLRSEO> HPLQM9SPLMRKNPMQ@RDSQLSMRKEQNRSGRKSQLS@RKJPERNMO HRLSGKRCCOSRSHQSOANQSPLMKPSJOEEPS*SHQSNO@PNMP AQONQ; QNSOANQSIPJODSLRSJGRJRSHRLSMKPJBRKQERNMOSIP> HONOSPSIPKQIOSHRLL=PAAQFHQIPMPKQODSIFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM9SRHSQSIOJMQSGRKSLPSKRAQJMKP> CQONRSRSMKPJIKQCQONRSHRLSHRIKRMOSNONI8 SGRK LPSIPNIRLLPCQONRSHRLLRSBOKEPLQM9SGKRAQFHQCQR> @OLQSAKP@PNMQSJFALQSQEEO<QLQSPI6FQJMPMQ; *SGOJJQ<QLRDSGRKSQSGPKMRIQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSIONHQCQONQSRIONOEQI8R GKRJMP<QLQMQSHPSOANQSJQNAOLPS<PNIPSPHRKRNMR GKOMOIOLLOS 7 : SGRKSLPSIONIRJJQONRSHQSEFMFQ PALQSPAAQFHQIPMPKQ;SL=RLRNIOSHRLLRS<PNI8RSPHR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS+KQ<FNPLRSHQS,PERCQP +RKERS*SKRGRKQ<QLRSGKRJJOSLPS/PNIRLLRKQP;S 6FPNMOSPLL=R@RNMFPLRDSJFIIRJJQ@PS@RNHQMPSPALQ QNIPNMQ RJJPSHR@RSP@RKSLFOAOSPLSGKRCCOS<PJRSHQSRFKO 40? %D .SGRKSQLSLOMMOSFNOSRSHQSRFKOS1.?.44D.% GRKSQLSLOMMOSHFRSRSHQSRFKOS4)?04 D.%SGRKSQLSLOMMO MKRS;S LRSOBBRKMRSQNSPFERNMODSPSGRNPSHQSQNPEEQJJQ<Q> LQM9DS NONS HR@ONOS RJJRKRS QNBRKQOKQS PS . S HRL GKRCCOS<PJRSH=PJMP; OANFNODS PQS JRNJQS HRLL=PKM?S 0) DS IOEEPS 4D I?G?I?DSMKPNNRSQLSHR<QMOKRDS*SPEERJJOSPSBOKEF> LPKRS OBBRKMRS PLL=QNIPNMOS GRKJONPLERNMRDS P ERCCOSHQSEPNHPMPKQOSEFNQMOSHQSGKOIFKPSJGR> IQPLRSOSHQSGKOIFKPMOKRSLRAPLRDSPNI8RSPSNOKEP HRLL=PKM?S0) DSIOEEPS.DSI?G?I?S!QLSGKOIFKPMOKR LRAPLRSHO@K9DSQNSOANQSIPJODSRJJRKRSEFNQMOSHQ EPNHPMOSJGRIQPLRSKQJFLMPNMRSHPSPMMOSGF<<LQIO OSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPDSNONSRJJRNHO JFBBQIQRNMRS L=OKHQNPKQOS EPNHPMOS PLLRS LQMQ;S NRL> L=QGOMRJQSHQSIFQSPLSIQMPMOSPKM?S0) DSIOEEPS.DSQL EPNHPMOSJGRIQPLRSKQJFLMPNMRSHPSPMMOSGF<<LQIO OSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPSHO@K9SRJJRKR HRGOJQMPMOS IONMRJMFPLERNMRS PLLPS HQI8QPKP> CQONRSHRLSNOEQNPMQ@OSHRLLPSGRKJONPDSHPSRBBRM> MFPKJQSNRLSMRKEQNRSHQSIFQSPLL=PKM?S0%.DSIOEEP 4DSI?G?I?& OANQSIONIOKKRNMRDSGRKSRJJRKRSPEERJJOSPLL=QN> IPNMODSHR@RSGKRJRNMPKRSQJMPNCPSHQSGPKMRIQGP> CQONRDSQNSKRAOLPSIONSQLS<OLLODSKRIPNMRDSPSGRNP HQS QNRBBQIPIQPDS L-QNHQIPCQONRS HRLS NFERKOS HQ K?A?R?S HRLLPS GKOIRHFKPDS QLS <RNRS OS QLS LOMMOS IFQ L=QJMPNCPSJMRJJPS*SKQBRKQMPDSQLSGKRCCOSGKOGOJMOD LRSGKOGKQRSARNRKPLQM9S!NOERDSIOANOERDSLFOAO
RS HPMPS HQS NPJIQMPDS IOHQIRS BQJIPLRD KRJQHRNCP HOEQIQLQODSJMPMOSIQ@QLRSRDSJRSIONQF> APMODS KRAQERS GPMKQEONQPLRS BKPS QS IONQFAQ;S QN IPJOSHQSIOEFNQONRSLRAPLRSHRQS<RNQDSOIIOKKRK9 QNHQIPKRSPNI8RSLRSARNRKPLQM9SHRLSIONQFARSNON OBBRKRNMRDS PLS BQNRS HQS GOMRKS MKPJBRKQKRS PHS RN> MKPE<QDSGKOS6FOMPDSQLS<RNRDSQNSIPJOSHQSPAAQFHQ> IPCQONR;S NRLL=QGOMRJQS HQS PI6FQJMOS PS MQMOLO GRKJONPLRSHPSGPKMRSHQSFNSIONQFARSQNSKRAQER HQS IOEFNQONRS HRQS <RNQDS OIIOKKRS GKOHFKKRD OLMKRSPLLPSHQI8QPKPCQONRSHQS6FRJM=FLMQEODSR SPKM? 4) DSIOEEPS4DSLRMM?SBDSIOH?SIQ@?DS6FRLLPSHRLSIO> NQFARS NONS PI6FQKRNMRS HQS IFQS PLS JRIONHO IOEEPSHRLLPSERHRJQEPSHQJGOJQCQONRSNOKEP> MQ@P&DSL=RJGKRJJPSHQI8QPKPCQONRSHQSP@RKSGKRJO @QJQONRSHRLLPSGRKQCQPSHQSJMQEP; L=QJMPNCPDSNRLSIPJOSHQSGKRJRNMPCQONRSHPSGPKMR HQS FNS EQNOKRNNRDS HO@K9S RJJRKRS JOMMOJIKQMMP HPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSHRLSAQFHQIR MFMRLPKRDSHPSHRGOJQMPKRSQNSIOGQPSIONBOKER; QNSIPJOSHQSQJMPNCPSGKRJRNMPMPSIONAQFNMPERNMR HPSGQ SJOAARMMQDSHR@RSRJJRKRSQNHQIPMOSIOLFQ I8RS P<<QPS L=RJILFJQ@PS BPIOLM9S HQS BOKEFLPKR R@RNMFPLQSOBBRKMRSQNSPFERNMO; NONSJPK9SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOS HQ@RKJOS HPS 6FRLLOS I8RS JOMMOJIKQ@R L=QJMPNCP; PLL=QJMPNCPSHQSGPKMRIQGPCQONRSHR@RSRJJRKRSPL> LRAPMPSIOGQPSHQS@PLQHOSHOIFERNMOSHQSQHRNMQM9 HRLSIONIOKKRNMRSRDSJRSNRIRJJPKQODS@PLQHPSHO> IFERNMPCQONRSIOEGKO@PNMRSQSGOMRKQSOSLPSLRAQM> MQEPCQONRS HRLLOS JMRJJOS !PHS RJ?S GKOIFKP JGRIQPLRSOSIRKMQBQIPMOSIPERKPLRSQNSIPJOSHQSJO> IQRM9&; IONSL=QJMPNCPSHQSGPKMRIQGPCQONRDSHPSGKRJRN> MPKJQSQNS<FJMPSI8QFJPDSJRNCPSJRANQSHQSKQIONO> JIQERNMODSHR@RSRJJRKRSHRGOJQMPMOSPJJRANO IQKIOLPKRSNONSMKPJBRKQ<QLRDSQNMRJMPMOSPLLRS OJMR :MPLQPNRSJ?G?P? DSMKPEQMRSIFQSRBBRMMFPKRSQLS@RKJP> ERNMOSHRLLPSIPFCQONRS!RHSQNSIONMOSGKRCCOSHQ PAAQFHQIPCQONR&DSQNSKPAQONRSHQSFNSHRIQEOSHRL GKRCCOS<PJRSH=PJMP; PLL-RJMRKNOSHRLLPS<FJMPS@PNNOSPNNOMPMQDSPSIFKP HRLS IPNIRLLQRKRS KQIR@RNMRDS QLS NOERDS GKR@QP QHRNMQBQIPCQONRDS HQS I8QS EPMRKQPLERNMRS GKO@> @RHRSPLSHRGOJQMODSQLSNOERSHRLSAQFHQIRSHRLL-RJR> IFCQONRSRSLPSHPMPSHRLL-FHQRNCPSBQJJPMPSGRKSLP @RNHQMPSPLL=QNIPNMO; LRS<FJMRSJPKPNNOSPGRKMRSPLL-FHQRNCPSJMP<QLQMP GRKSL=QNIPNMOSPLLPSGKRJRNCPSHRALQSQJMPNMQDSLPSIFQ IOEGPKQCQONRS*SNRIRJJPKQPSPQSBQNQSHRLL=PAAQF> HQIPCQONRDSI8RSJPK9SHQJGOJMPSJRIONHOSLRSGKR> JIKQCQONQS HRLL=PKM?S 0%4S I?G?I?;S LPS EPNIPMP GPKMRIQGPCQONRSPLL=QNIPNMODSGRKJONPLERNMRSO PSERCCOSHQSGKOIFKPMOKRSJGRIQPLRDSJRNCPSHO> IFERNMPMOSRSAQFJMQBQIPMOSEOMQ@ODSIOEGOKMRK9 L=QNIPERKPERNMOSHQS4 4'SHRLLPSIPFCQONRDSI8RD HQS IONMKODS JPK9S QEERHQPMPERNMRS KRJMQMFQMP HOGOSLPSI8QFJFKPSHRLL=QNIPNMODSO@RSL=OBBRKRNMRD KRAOLPKERNMRSGKRJRNMRDSNONSHQ@RNAPSPAAQF> HQIPMPKQO;SNRLSIPJOSHQSFNPSJOLPSQJMPNCPSHQSGPK> MRIQGPCQONRDSOIIOKKRK9SIOEFN6FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S0%4DSIOEEPS1DSGRK IONJRAFQKRSL=PAAQFHQIPCQONRSGKO@@QJOKQP; PSNOKEPSHRLL=PKM?S0% SI?G?I?DSQNBPMMQDSP@@RNFMO L=QNIPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOBBRKMR HQSPI6FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSHQSHQRIQ AQOKNQSHPLLPSAPKPDSEPSRJJRSNONSJONOSRBBQIPIQ JRSQLSGKRCCOSOBBRKMOSNONSJFGRKPSHQS4 0S6FRLLO KPAAQFNMOSNRLL=QNIPNMO;SL=PAAQFHQIPCQONRDSGRK> MPNMODS HQ@RKK9S HRBQNQMQ@PS O@RDS HRIOKJQS HQRIQ AQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOBBRKMRSQN PFERNMO; MPLQSOBBRKMRSGOMKPNNOSRJJRKRSHRGOJQMPMRSGKRJJO LPS/PNIRLLRKQPDSNRLLRSBOKERSHQSIFQSPLL=PKM?S0)4 I?G?I?DSGKRJMPNHOSIPFCQONRSGRKSFNPSJOEEP GPKQSPLSHOGGQOSHRLLPSIPFCQONRS@RKJPMPSGRKSLP GPKMRIQGPCQONRSPLL=QNIPNMO?S:NSIPJOSHQSGKRJRN> MPCQONRSHQSMPLQSOBBRKMRDS@RKK9SQNHRMMPSFNPSAPKP JRIONHOSLRSGKR@QJQONQSHQSIFQSPLL=PKM?S0% SI?G?I?? (RSNRJJFNOSHRALQSOBBRKRNMQSQNSPFERNMOSGPKMR> IQGPSPLLPSAPKPSQNHRMMPSPSNOKEPSHRLL=PKM?S0% D IOEEPS.DSI?G?I?DSL=PAAQFHQIPCQONRSHQ@RNMPSHR> BQNQMQ@PSRS@RKK9SGKONFNIQPMPSPSIPKQIOSHRALQSOB> BRKRNMQS!JPL@OSI8RSKQIOKKPSFNSHOIFERNMPMOSR AQFJMQBQIPMOSEOMQ@O&SLPSGRKHQMPSHRLLPSIPFCQONRD QLSIFQSQEGOKMOS*SMKPMMRNFMOSIOERSKQN@RNQRNMRSP MFMMQSALQSRBBRMMQSHPLL=RJRIFCQONR;S QNSOANQSIPJODSLRSJGRJRSHRLSMKPJBRKQERNMOSIR> HONOSPSIPKQIOSHRLL=PAAQFHQIPMPKQODSIFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM9SRHSQSIOJMQSGRKSLPSKRAQJMKP> CQONRSRSMKPJIKQCQONRSHRLSHRIKRMOSNONI8 SGRK LPSIPNIRLLPCQONRSHRLLRSBOKEPLQM9SGKRAQFHQCQR> @OLQSAKP@PNMQSJFALQSQEEO<QLQSPI6FQJMPMQ; *SGOJJQ<QLRDSGRKSQSGPKMRIQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSIONHQCQONQSRIONOEQI8R GKRJMP<QLQMQSHPSOANQSJQNAOLPS<PNIPSPHRKRNMR GKOMOIOLLOS 7 : SGRKSLPSIONIRJJQONRSHQSEFMFQ PALQSPAAQFHQIPMPKQ;SL=RLRNIOSHRLLRS<PNI8RSPHR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS+KQ<FNPLRSHQS,PERCQP +RKERS*SKRGRKQ<QLRSGKRJJOSLPS/PNIRLLRKQP;S :5S 3,7 :253S7,,7S$35#:+7S (35 7S:5/75+2 *SBQJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS/PN> IRLLRKQPSHRLLRS3JRIFCQONQS:EEO<QLQPKQSHRLLRSOB> BRKMRS HQS PI6FQJMODS R S PKM?S 0)4S I?G?I?DS HRL IOEGRNHQOSQEEO<QLQPKRSJOGKPSQNHQIPMOSRSER>
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
LFOAOSLPS@RNHQMPSIONSQNIPNMOSHRLSERHRJQEO LOMMOSNRLLOSJMPMOSHQSBPMMOSRSHQSHQKQMMOSQNSIFQSJQ MKO@PSGRKSL=FHQRNCPSHRLS1)?'"?1'41; > /2.1/451$5*,25.2((40.31/45,3%2 3)5 2.4015 403)4,4'5/2.1/3% 5 103)15.2( /4,,2504,3$4) 31/45 *2 15 4(4,1 '5.2) ,* 40 3.345$35( -5"+ -5 3((2 3/45 503 20 %1%25)4/5 5$35$4%%25.2(*)451/5 2 /32 #+'5 -//15++"'5,* 5 '5.1%-5 "'5./1,,45+
4*025#!- # ' ! (:S 35#3S75/2 7S52+2S/ 3S:,S 3 S 7S(+7 :,:+2S/ 3S,7S$35#:+7S7$> $:353S7,,3S(3 35+:S/25#: :25: $35#:+7S(35 7S:5/75+2
FPNMOSPLLPS@RNHQMPSJRNCPSQNIPNMODSHPSRBBRM> MFPKJQSPLSGKRCCOS<PJRSHQSRFKOS."?). D)"SGRKSQL LOMMOSFNQIO;S IQPJIFNS OBBRKRNMRDS PQS JRNJQS HRLL=PKM?S 0)4D IOEEPS 4DS I?G?I?DS MKPNNRS QLS HR<QMOKRDS *S PE> ERJJOSPSBOKEFLPKRSOBBRKMRSGRKSL=PI6FQJMOSGRK> JONPLERNMRSOSPSERCCOSHQSGKOIFKPMOKRSLRAPLRD PNI8RSPSNOKEPSHRLL=PKM?S0) DSIOEEPS.DSI?G?I? !QLSGKOIFKPMOKRSLRAPLRSHO@K9DSQNSOANQSIPJODSRJ> JRKRSEFNQMOSHQSEPNHPMOSJGRIQPLRSKQJFLMPNMRSHP PMMOSGF<<LQIOSOSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPD NONSRJJRNHOSJFBBQIQRNMRSL=OKHQNPKQOSEPNHPMO PLLRS LQMQ;S NRLL=QGOMRJQS HQS IFQS PLS IQMPMOS PKM?S 0) D IOEEPS.DSQLSEPNHPMOSJGRIQPLRSKQJFLMPNMRSHP PMMOSGF<<LQIOSOSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMP HO@K9S RJJRKRS HRGOJQMPMOS IONMRJMFPLERNMR PLLPSHQI8QPKPCQONRSHRLSNOEQNPMQ@OSHRLLPSGRK> JONPDSHPSRBBRMMFPKJQSNRLSMRKEQNRSHQSIFQSPLL=PKM? 0%.DSIOEEPS4DSI?G?I?&DSGKRJRNMPNHOSGKRJJO LPS/PNIRLLRKQPSHRLLRS3JRIFCQONQS:EEO<QLQPKQD HQI8QPKPCQONRDSQNSKRAOLPSIONSQLS<OLLODSIONMR> NRNMRDSPSGRNPSHQSQNRBBQIPIQPDSL-QNHQIPCQONRSHRL NFERKOSHQSK?A?R?SHRLLPSGKOIRHFKPDSHRLS<RNRS!R HRLSLOMMO&SIFQSL=OBBRKMPSJQSKQBRKQJIRDSHRLSGKRCCOD HRLSMREGODSHRLSEOHOSHRLSGPAPERNMOSRSHQSOANQ PLMKOSRLRERNMOSFMQLRSPLLPS@PLFMPCQONRSHRLL-OB> BRKMP; HRMMPS HQI8QPKPCQONRS HR@RDS PLMKRJ DS KRIPKRS LR ARNRKPLQM9S HRLL=OBBRKRNMRS !NOERDS IOANOERD LFOAOSRSHPMPSHQSNPJIQMPDSIOHQIRSBQJIPLRDSKRJQ> HRNCP HOEQIQLQODSJMPMOSIQ@QLRSRDSJRSIONQFAPMOD KRAQERSGPMKQEONQPLRSBKPSQSIONQFAQ;SQNSIPJOSHQ IOEFNQONRS LRAPLRS HRQS <RNQDS OIIOKKRK9S QNHQ> IPKRSPNI8RSLRSARNRKPLQM9SHRLSIONQFARSNONSOB> BRKRNMRDSPLSBQNRSHQSGOMRKSMKPJBRKQKRSPHSRNMKPE<QD GKOS6FOMPDSQLS<RNRDSQNSIPJOSHQSPAAQFHQIPCQONR; NRLL=QGOMRJQSHQSPI6FQJMOSPSMQMOLOSGRKJONPLRSHP GPKMRSHQSFNSIONQFARSQNSKRAQERSHQSIOEFNQONR HRQS<RNQDSOIIOKKRSGKOHFKKRDSOLMKRSPLLPSHQI8QP> KPCQONRSHQS6FRJM=FLMQEODSR SPKM?S4) DSIOEEP 4DSLRMM?SBDSIOH?SIQ@?DS6FRLLPSHRLSIONQFARSNONSPI> 6FQKRNMRSHQSIFQSPLSJRIONHOSIOEEPSHRLLPSER> HRJQEPSHQJGOJQCQONRSNOKEPMQ@P&DSL=RJGKRJJP HQI8QPKPCQONRSHQSP@RKSGKRJOS@QJQONRSHRLLPSGR> KQCQPSHQSJMQEPSRHSRJJRKRSIOKKRHPMPSHPSIOGQPSHQ @PLQHOSHOIFERNMOSHQSQHRNMQM9SHRLL=OBBRKRNMRSRD JRS NRIRJJPKQODS HPS @PLQHPS HOIFERNMPCQONR IOEGKO@PNMRSQSGOMRKQSOSLPSLRAQMMQEPCQONRSHRLLO JMRJJOS!PHSRJ?SGKOIFKPSJGRIQPLRSOSIRKMQBQIPMO IPERKPLRSQNSIPJOSHQSJOIQRM9&; L=OBBRKMPDSNRLSIPJOSHQSGKRJRNMPCQONRSHPSGPKMR HQS FNS EQNOKRNNRDS HO@K9S RJJRKRS JOMMOJIKQMMP HPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSHRLSAQFHQIR MFMRLPKRDSHPSPLLRAPKRSQNSIOGQPSIONBOKER; QNSIPJOSHQSHQI8QPKPCQONRSGKRJRNMPMPSIONAQFN> MPERNMRSHPSGQ SJOAARMMQDSHR@RSRJJRKRSQNHQIPMO IOLFQSI8RSP<<QPSL=RJILFJQ@PSBPIOLM9SHQSBOKEF> LPKRSR@RNMFPLQSOBBRKMRSQNSPFERNMO; NONSJPK9SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOSHQ@RKJOSHPS6FRLLOSI8RSJOMMOJIKQ@RSL=OB> BRKMP; L=OBBRKMPS*SQKKR@OIP<QLRDSJPL@OSI8R S4?SQLSAQFHQIR OKHQNQSL=QNIPNMO;S1?SJQPNOSHRIOKJQSIRNMO@RNMQ AQOKNQS HPLLPS JFPS GKRJRNMPCQONRS RS LPS JMRJJP NONSJQPSJMPMPSPIIOLMP; L-OBBRKMPSNONS*SRBBQIPIR S4&SJRSGRK@QRNRSOLMKRSQL MRKEQNRSJMP<QLQMO;S1&SJRS*SQNBRKQOKRSPLSGKRCCO HRMRKEQNPMOSPSNOKEPSHRLL-PKMQIOLOS0"%SRSGQ JOGKPSKQIOKHPMO;SI&SJRSL-OBBRKRNMRSNONSGKRJMP IPFCQONRDSPSERCCOSHQSPJJRANOSIQKIOLPKRSNON MKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS:MPLQPNRSJGP DSQN EQJFKPSNONSQNBRKQOKRSPLSHRIQEOSHRLSGKRCCOSHP LFQSGKOGOJMO; PLL=OBBRKMPDS HPS HRGOJQMPKJQS QNS <FJMPS I8QFJPD JRNCPSJRANQSHQSKQIONOJIQERNMODSHR@RSRJJRKR PLLRAPMOSL=PJJRANOSIQKIOLPKRSGRKSLPSIPFCQONRD IOERSQNNPNCQSQNHQIPMO;SPLL-RJMRKNOSHRLLPS<FJMP @PNNOSPNNOMPMQDSPSIFKPSHRLSIPNIRLLQRKRSKQIR> @RNMRDSQLSNOERDSGKR@QPSQHRNMQBQIPCQONRDSHQSI8Q EPMRKQPLERNMRSGKO@@RHRSPLSHRGOJQMODSQLSNOER HRLS AQFHQIRS HRLL-RJRIFCQONRS RS LPS HPMPS HRL> L-FHQRNCPSBQJJPMPSGRKSL-RJPERSHRLLRSOBBRKMR;SLR <FJMRSJPKPNNOSPGRKMRSPLL-FHQRNCPSBQJJPMPSGRK L-RJPERSHRLLRSOBBRKMRDSPLLPSGKRJRNCPSHRALQSOB> BRKRNMQDSO@RSIOEGPKJQ;SNRLSIPJOSHQSEPNIPMP IOEGPKQCQONRSHRLL=OBBRKRNMRSOSHRALQSOBBRKRNMQ L=PAAQFHQIPCQONRS JPK9S IOEFN6FRS HQJGOJMPD BPMMPSJPL@PSL=PGGLQIPCQONRSHRLLRSGKR@QJQONQSHQ IFQSPLL=PKM?S0)1DSIOEEQS1SRS.DSI?G?I?;SQNSIPJOSHQ GQ SOBBRKMRS@PLQHRDSJQSGKOIRHRK9SPSAPKPSJFLL=OB> BRKMPSGQ SPLMPSJRIONHOSQLSJQJMREPSHRLLRSJI8RHR OS <FJMRS JRAKRMRDS BPMMPS JPL@PS L=PGGLQIPCQONR HRLL=PKM?S0).DSIOEEPS1DSI?G?I?;SSSSS
PMR OKLQJMOLP?OR OKKQR DNGOKPL7R GPR HEPR INFJOCR KO FJQIQMLOBPNMQRGQKKQRN@@QJLQRGPROH5EPILNRFE
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
GP@@QJQMBQRGPRDPIEJORMNMRFNLJOMMNRGOJRKENAN OGROKHEMRJPIOJHPDQMLNCRPMGQMMPL7RNRJPGEBPNMQ GQKRFJQBBN9RKOR?QMGPLOR@NJBOLORMNMR+RINAAQLLO OKKQRMNJDQRHNMHQJMQMLPRKORAOJOMBPORFQJR?PBPRN DOMHOMBORGPR5EOKPL7CRM RFNLJ7RQIIQJQRJQ?N= HOLORFQJROKHEMRDNLP?N>R0NMIQAEQMLQDQMLQ K<QIPILQMBOR GPR Q?QMLEOKPR ?PBPCR DOMHOMBOR GP 5EOKPL7RNRGP@@NJDPL7RGQKKORHNIOR?QMGELOCRNMQJP GPR5EOKIPOIPRAQMQJQR=RP?PRHNDFJQIPCROGRQIQD= FPNCR5EQKKPREJ;OMPILPHPRN??QJNRGQJP?OMLPRGOKKO Q?QMLEOKQRMQHQIIPL7RGPROGQAEODQMLNRGPRPD= FPOMLPROKKQRKQAAPR?PAQMLPCRIFQIQRHNMGNDPMPOKP GQKK<OMMNR PMR HNJINR QR GQKK<OMMNR FJQHQGQMLQ MNMRFOAOLQRGOKRGQ;PLNJQR=RFQJR5EOKIPOIPRDN= LP?NRMNMRHNMIPGQJOLPCROMH8QRIQRNHHEKLPRQRHN= DEM5EQR MNMR Q?PGQMBPOLPR PMR FQJPBPOCR MNM FNLJOMMNRGOJRKENANROGROKHEMRJPIOJHPDQMLNCRPM= GQMMPL7RNRJPGEBPNMQRGQKRFJQBBNCRQIIQMGNIPRGP HP RLQMELNRHNMLNRMQKKOR?OKELOBPNMQRGQPR;QMP9 K<OAAPEGPHOLOJPNRGN?J7R?QJIOJQRKORGP@@QJQMBO GQKRFJQBBNR GQLJOLLORGOKRFJQBBNRGPROAAPEGPHO= BPNMQRKORHOEBPNMQRGPRHEPRINFJO$RQMLJNREMRLQJ= DPMQRDOIIPDNRGPRIQIIOMLORAPNJMPRGOKKORGOLO GPROAAPEGPHOBPNMQRDQGPOMLQROIIQAMNRHPJHN= KOJQRMNMRLJOI@QJP;PKQRPMLQILOLNROR NILQR:LOKPOMQ I>F>O> R 5EOKNJORPKRFJNHQGPDQMLNRIPR@NMGPRIE HJQGPLNR @NMGPOJPNR QR K<OAAPEGPHOLOJPNR MNMR PM= LQMGORO??OKQJIPRGQKKOR@OHNKL7RGPRIE;QMLJOJQRMQK HNMLJOLLNCR OKK<OIIQAMNR HPJHNKOJQR IOJ7R INILP= LEPLNCRQ ROJL>R 1CRHNDDOR CR#>-AI>R1RIQLLQD= ;JQR 1"")CR M>R )!/CR PKR FOAODQMLNR GPJQLLNR OKKO ;OMHORHJQGPLJPHQCRMQPRKPDPLPRGQKRHJQGPLNROBPNMOLN FQJRHOFPLOKQCRPMLQJQIIPRQRIFQIQRHNMRHNKKNHO= BPNMQRFJP?PKQAPOLOCRQMLJNRKNRILQIINRLQJDPMQRQ GQLJOLLNREMROHHOMLNMODQMLNRFQJRIFQIQRMQKKO DPIEJORH8QRIOJ7RPMGPHOLORGOKRA>Q>$9RPMRDOM= HOMBOCR IPR FJN??QGQJ7R OR GPH8POJOJQR KOR GQHO= GQMBORGOKK<OAAPEGPHOBPNMQCRORMNJDORGQKK<OJL> /!'RH>F>H>9 INKLOMLNR OKK<QIPLNR GQAKPR OGQDFPDQMLPR FJQHQ= GQMLPCRGQKKORFJNGEBPNMQRGPROAAPNJMOLPRHQJLP@PHOLP HOLOILOKPRQRGPROAAPNJMOLPRHQJLP@PHOLPRJQKOLP?PROKKQ PIHJPBPNMPR QR LJOIHJPBPNMPR Q@@QLLEOLQR IEKR ;QMQ MNMH8 RGQKRFOAODQMLNRGQKKQRIFQIQRGPRLJOI@Q= JPDQMLNCR GOR Q@@QLLEOJIPR HNMLQILEOKDQMLQR O 5EQKKNRGQKKORGP@@QJQMBORGQKRFJQBBNRGPROAAPEGP= HOBPNMQCR MQKKOR DPIEJOR GQKR ,( R GPR 5EQIL<EK= LPDNCRIOJ7RQDQIINRPKRGQHJQLNRGPRLJOI@QJPDQMLNC OPRIQMIPRGQKK<OJL>R/! RH>F>H>9 -ODQBPOR.QJDQCRK R,,>()>,(1, 07 (/ 63/42637 6(&6 64263
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
GQKRLQDFNCRGQKRDNGNRGQKRFOAODQMLNRQRGPRNAMP OKLJNRQKQDQMLNRELPKQROKKOR?OKELOBPNMQRGQKK&N@= @QJLO9 GQLLOR GPH8POJOBPNMQR GQ?QCR OKLJQI CR JQHOJQR KQ AQMQJOKPL7R GQKK<N@@QJQMLQR MNDQCR HNAMNDQC KENANRQRGOLORGPRMOIHPLOCRHNGPHQR@PIHOKQCRJQIP= GQMBO GNDPHPKPNCRILOLNRHP?PKQRQCRIQRHNMPEAOLNC JQAPDQRFOLJPDNMPOKQR@JORPRHNMPEAP9RPMRHOINRGP HNDEMPNMQR KQAOKQR GQPR ;QMPCR NHHNJJQJ7R PMGP= HOJQROMH8QRKQRAQMQJOKPL7RGQKRHNMPEAQRMNMRN@= @QJQMLQCROKR@PMQRGPRFNLQJRLJOI@QJPJQROGRQMLJOD;PC FJNR5ENLOCRPKR;QMQCRPMRHOINRGPROAAPEGPHOBPNMQ9 MQKK<PFNLQIPRGPROH5EPILNRORLPLNKNRFQJINMOKQRGO FOJLQRGPREMRHNMPEAQRPMRJQAPDQRGPRHNDEMPNMQ GQPR;QMPCRNHHNJJQRFJNGEJJQCRNKLJQROKKORGPH8PO= JOBPNMQRGPR5EQIL<EKLPDNCRQ ROJL>R1'"CRHNDDO 1CRKQLL>R@CRHNG>RHP?>CR5EQKKORGQKRHNMPEAQRMNMROH= 5EPJQMLQRGPRHEPROKRIQHNMGNRHNDDORGQKKORDQ= GQIPDORGPIFNIPBPNMQRMNJDOLP?O$CRK<QIFJQIIO GPH8POJOBPNMQRGPRO?QJRFJQINR?PIPNMQRGQKKORFQ= JPBPORGPRILPDORQGRQIIQJQRHNJJQGOLORGORHNFPORGP ?OKPGNRGNHEDQMLNRGPRPGQMLPL7RGQKK<N@@QJQMLQRQC IQR MQHQIIOJPNCR GOR ?OKPGOR GNHEDQMLOBPNMQ HNDFJN?OMLQRPRFNLQJPRNRKORKQAPLLPDOBPNMQRGQKKN ILQIINR OGRQI>RFJNHEJORIFQHPOKQRNRHQJLP@PHOLN HODQJOKQRPMRHOINRGPRINHPQL7$9 K<N@@QJLOCRMQKRHOINRGPRFJQIQMLOBPNMQRGORFOJLQ GPR EMR DPMNJQMMQCR GN?J7R QIIQJQR INLLNIHJPLLO GOPRAQMPLNJPCRFJQ?POROELNJPBBOBPNMQRGQKRAPEGPHQ LELQKOJQCRGOROKKQAOJQRPMRHNFPORHNM@NJDQ9 PMRHOINRGPRGPH8POJOBPNMQRFJQIQMLOLORHNMAPEM= LODQMLQRGORFP RINAAQLLPCRGQ?QRQIIQJQRPMGPHOLN HNKEPRH8QRO;;PORK<QIHKEIP?OR@OHNKL7RGPR@NJDE= KOJQRQ?QMLEOKPRN@@QJLQRPMROEDQMLN9 MNMRIOJ7RFNIIP;PKQRLJOI@QJPJQRK<PDDN;PKQRORINA= AQLLNRGP?QJINRGOR5EQKKNRH8QRINLLNIHJP?QRK<N@= @QJLO9 K<N@@QJLOR+RPJJQ?NHO;PKQCRIOK?NRH8Q R1>RPKRAPEGPHQ NJGPMPRK<PMHOMLN9R,>RIPOMNRGQHNJIPRHQMLN?QMLP APNJMPR GOKKOR IEOR FJQIQMLOBPNMQR QR KOR ILQIIO MNMRIPORILOLOROHHNKLO9 K&N@@QJLORMNMR+RQ@@PHOHQ R1$RIQRFQJ?PQMQRNKLJQRPK LQJDPMQRILO;PKPLN9R,$RIQR+RPM@QJPNJQROKRFJQBBN GQLQJDPMOLNRORMNJDORGQKK&OJLPHNKNR/ !RQRFP INFJORJPHNJGOLN9RH$RIQRK&N@@QJQMLQRMNMRFJQILO HOEBPNMQCRORDQBBNRGPROIIQAMNRHPJHNKOJQRMNM LJOI@QJP;PKQRPMLQILOLNROR NILQR:LOKPOMQRIFO CRPM DPIEJORMNMRPM@QJPNJQROKRGQHPDNRGQKRFJQBBNRGO KEPRFJNFNILN9 OKK<N@@QJLOCR GOR GQFNIPLOJIPR PMR ;EILOR H8PEIOC IQMBORIQAMPRGPRJPHNMNIHPDQMLNCRGQ?QRQIIQJQ OKKQAOLNRK<OIIQAMNRHPJHNKOJQRFQJRKORHOEBPNMQC HNDQRPMMOMBPRPMGPHOLN9ROKK&QILQJMNRGQKKOR;EILO ?OMMNROMMNLOLPCRORHEJORGQKRHOMHQKKPQJQRJPHQ= ?QMLQCRPKRMNDQCRFJQ?PORPGQMLP@PHOBPNMQCRGPRH8P DOLQJPOKDQMLQRFJN??QGQROKRGQFNIPLNCRPKRMNDQ GQKR APEGPHQR GQKK&QIQHEBPNMQR QR KOR GOLOR GQK= K&EGPQMBOR@PIIOLORFQJRK&QIODQRGQKKQRN@@QJLQ9RKQ ;EILQRIOJOMMNROFQJLQROKK&EGPQMBOR@PIIOLORFQJ K&QIODQRGQKKQRN@@QJLQCROKKORFJQIQMBORGQAKPRN@= @QJQMLPCRN?QRHNDFOJIP9RMQKRHOINRGPRDOMHOLO HNDFOJPBPNMQRGQKK<N@@QJQMLQRNRGQAKPRN@@QJQMLP K<OAAPEGPHOBPNMQR IOJ7R HNDEM5EQR GPIFNILOC @OLLORIOK?ORK<OFFKPHOBPNMQRGQKKQRFJQ?PIPNMPRGP HEPROKK<OJL>R/',CRHNDDPR,RQR)CRH>F>H>9RPMRHOINRGP FP RN@@QJLQR?OKPGQCRIPRFJNHQGQJ7RORAOJORIEKK<N@= @QJLORFP ROKLORIQHNMGNRPKRIPILQDORGQKKQRIH8QGQ NR ;EILQR IQAJQLQCR @OLLOR IOK?OR K<OFFKPHOBPNMQ GQKK<OJL>R/')CRHNDDOR,CRH>F>H>9RRRRR PMR OKLQJMOLP?OR OKKQR DNGOKPL7R GPR HEPR INFJOCR KO FJQIQMLOBPNMQRGQKKQRN@@QJLQRGPROH5EPILNRFE
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
QNHPNMQ RIIPSJRARSPARKSLFOBOSPLSGKRCCOS<PIRSJQSRFKO ,&? &D.,SGRKSQLSLOMMOSFNQHO5S LRSO@@RKMRSQNSPFERNMODSPSGRNPSJQSQNPEEQIIQ<Q> LQM:DS NONS JRAONOS RIIRKRS QN@RKQOKQS PLS , S JRL GKRCCOS<PIRSJ=PIMP5 OBNFNODS PQS IRNIQS JRLL=PKM?S .(&DS HOEEPS 4D H?G?H?DSMKPNNRSQLSJR<QMOKRDS)SPEERIIOSPS@OKEF> LPKRS O@@RKMRS PLL=QNHPNMOS GRKIONPLERNMRDS P ERCCOSJQSEPNJPMPKQOSEFNQMOSJQSGKOHFKPSIGR> HQPLRSOSJQSGKOHFKPMOKRSLRBPLRDSPNH0RSPSNOKEP JRLL=PKM?S.(&DSHOEEPS,DSH?G?H?S QLSGKOHFKPMOKR LRBPLRSJOAK:DSQNSOBNQSHPIODSRIIRKRSEFNQMOSJQ EPNJPMOSIGRHQPLRSKQIFLMPNMRSJPSPMMOSGF<<LQHO OSIHKQMMFKPSGKQAPMPSPFMRNMQHPMPDSNONSRIIRNJO IF@@QHQRNMRS L=OKJQNPKQOS EPNJPMOS PLLRS LQMQ5S NRL> L=QGOMRIQSJQSHFQSPLSHQMPMOSPKM?S.(&DSHOEEPS,DSQL EPNJPMOSIGRHQPLRSKQIFLMPNMRSJPSPMMOSGF<<LQHO OSIHKQMMFKPSGKQAPMPSPFMRNMQHPMPSJOAK:SRIIRKR JRGOIQMPMOS HONMRIMFPLERNMRS PLLPS JQH0QPKP> CQONRSJRLSNOEQNPMQAOSJRLLPSGRKIONPDSJPSR@@RM> MFPKIQSNRLSMRKEQNRSJQSHFQSPLL=PKM?S.#,DSHOEEP 4DSH?G?H? OBNQSHONHOKKRNMRDSGRKSRIIRKRSPEERIIOSPLL=QN> HPNMODSJRARSGKRIRNMPKRSQIMPNCPSJQSGPKMRHQGP> CQONRDSQNSKRBOLPSHONSQLS<OLLODSKRHPNMRDSPSGRNP JQS QNR@@QHPHQPDS L QNJQHPCQONRS JRLS NFERKOS JQ K?B?R?S JRLLPS GKOHRJFKPDS QLS <RNRS OS QLS LOMMOS HFQ L=QIMPNCPSIMRIIPS)SKQ@RKQMPDSQLSGKRCCOSGKOGOIMOD LRSGKOGKQRSBRNRKPLQM:S NOERDSHOBNOERDSLFOBO RS JPMPS JQS NPIHQMPDS HOJQHRS @QIHPLRD KRIQJRNCP JOEQHQLQODSIMPMOSHQAQLRSRDSIRSHONQF> BPMODS KRBQERS GPMKQEONQPLRS @KPS QS HONQFBQ5S QN HPIOSJQSHOEFNQONRSLRBPLRSJRQS<RNQDSOHHOKKRK: QNJQHPKRSPNH0RSLRSBRNRKPLQM:SJRLSHONQFBRSNON O@@RKRNMRDS PLS @QNRS JQS GOMRKS MKPI@RKQKRS PJS RN> MKPE<QDSGKOS2FOMPDSQLS<RNRDSQNSHPIOSJQSPBBQFJQ> HPCQONR5S NRLL=QGOMRIQS JQS PH2FQIMOS PS MQMOLO GRKIONPLRSJPSGPKMRSJQSFNSHONQFBRSQNSKRBQER JQS HOEFNQONRS JRQS <RNQDS OHHOKKRS GKOJFKKRD OLMKRSPLLPSJQH0QPKPCQONRSJQS2FRIM=FLMQEODSR SPKM? 4(&DSHOEEPS4DSLRMM?S@DSHOJ?SHQA?DS2FRLLPSJRLSHO> NQFBRS NONS PH2FQKRNMRS JQS HFQS PLS IRHONJO HOEEPSJRLLPSERJRIQEPSJQIGOIQCQONRSNOKEP> MQAP DSL=RIGKRIIPSJQH0QPKPCQONRSJQSPARKSGKRIO AQIQONRSJRLLPSGRKQCQPSJQSIMQEP5 L=QIMPNCPDSNRLSHPIOSJQSGKRIRNMPCQONRSJPSGPKMR JQS FNS EQNOKRNNRDS JOAK:S RIIRKRS IOMMOIHKQMMP JPQSBRNQMOKQDSGKRAQPSPFMOKQCCPCQONRSJRLSBQFJQHR MFMRLPKRDSJPSJRGOIQMPKRSQNSHOGQPSHON@OKER5 QNSHPIOSJQSQIMPNCPSGKRIRNMPMPSHONBQFNMPERNMR JPSGQ SIOBBRMMQDSJRARSRIIRKRSQNJQHPMOSHOLFQ H0RS P<<QPS L=RIHLFIQAPS @PHOLM:S JQS @OKEFLPKR RARNMFPLQSO@@RKMRSQNSPFERNMO5 NONSIPK:SGOIIQ<QLRSMKPI@RKQKRSL=QEEO<QLRSPSIOB> BRMMOS JQARKIOS JPS 2FRLLOS H0RS IOMMOIHKQAR L=QIMPNCP5 PLL=QIMPNCPSJQSGPKMRHQGPCQONRSJRARSRIIRKRSPL> LRBPMPSHOGQPSJQSAPLQJOSJOHFERNMOSJQSQJRNMQM: JRLSHONHOKKRNMRSRDSIRSNRHRIIPKQODSAPLQJPSJO> HFERNMPCQONRSHOEGKOAPNMRSQSGOMRKQSOSLPSLRBQM> MQEPCQONRS JRLLOS IMRIIOS PJS RI?S GKOHFKP IGRHQPLRSOSHRKMQ@QHPMOSHPERKPLRSQNSHPIOSJQSIO> HQRM: 5 HONSL=QIMPNCPSJQSGPKMRHQGPCQONRDSJPSGKRIRN> MPKIQSQNS<FIMPSH0QFIPDSIRNCPSIRBNQSJQSKQHONO> IHQERNMODSJRARSRIIRKRSJRGOIQMPMOSPIIRBNO HQKHOLPKRSNONSMKPI@RKQ<QLRDSQNMRIMPMOSPLLRS OIMR ;MPLQPNRSI?G?P? DSMKPEQMRSHFQSR@@RMMFPKRSQLSARKIP> ERNMOSJRLLPSHPFCQONRS RJSQNSHONMOSGKRCCOSJQ PBBQFJQHPCQONR DSQNSKPBQONRSJQSFNSJRHQEOSJRL GKRCCOS<PIRSJ=PIMP5 PLL RIMRKNOSJRLLPS<FIMPSAPNNOSPNNOMPMQDSPSHFKP JRLS HPNHRLLQRKRS KQHRARNMRDS QLS NOERDS GKRAQP QJRNMQ@QHPCQONRDS JQS H0QS EPMRKQPLERNMRS GKOA> ARJRSPLSJRGOIQMODSQLSNOERSJRLSBQFJQHRSJRLL RIR> HFCQONRSRSLPSJPMPSJRLL FJQRNCPS@QIIPMPSGRKSLP ARNJQMPSPLL=QNHPNMO5 LRS<FIMRSIPKPNNOSPGRKMRSPLL FJQRNCPSIMP<QLQMP GRKSL=QNHPNMOSPLLPSGKRIRNCPSJRBLQSQIMPNMQDSLPSHFQ HOEGPKQCQONRS)SNRHRIIPKQPSPQS@QNQSJRLL=PBBQF> JQHPCQONRDSH0RSIPK:SJQIGOIMPSIRHONJOSLRSGKR> IHKQCQONQS JRLL=PKM?S .#4S H?G?H?5S LPS EPNHPMP GPKMRHQGPCQONRSPLL=QNHPNMODSGRKIONPLERNMRSO PSERCCOSJQSGKOHFKPMOKRSIGRHQPLRDSIRNCPSJO> HFERNMPMOSRSBQFIMQ@QHPMOSEOMQAODSHOEGOKMRK: L=QNHPERKPERNMOSJQS4 49SJRLLPSHPFCQONRDSH0RD JQS HONMKODS IPK:S QEERJQPMPERNMRS KRIMQMFQMP JOGOSLPSH0QFIFKPSJRLL=QNHPNMODSOARSL=O@@RKRNMRD KRBOLPKERNMRSGKRIRNMRDSNONSJQARNBPSPBBQF> JQHPMPKQO5SNRLSHPIOSJQSFNPSIOLPSQIMPNCPSJQSGPK> MRHQGPCQONRDSOHHOKKRK:SHOEFN2FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S.#4DSHOEEPS/DSGRK HONIRBFQKRSL=PBBQFJQHPCQONRSGKOAAQIOKQP5 PSNOKEPSJRLL=PKM?S.# SH?G?H?DSQN@PMMQDSPAARNFMO L=QNHPNMODSGOIIONOSRIIRKRSGKRIRNMPMRSO@@RKMR JQSPH2FQIMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSJQSJQRHQ BQOKNQSJPLLPSBPKPDSEPSRIIRSNONSIONOSR@@QHPHQ IRSQLSGKRCCOSO@@RKMOSNONSIFGRKPSJQS4 .S2FRLLO KPBBQFNMOSNRLL=QNHPNMO5SL=PBBQFJQHPCQONRDSGRK> MPNMODS JQARKK:S JR@QNQMQAPS OARDS JRHOKIQS JQRHQ BQOKNQDSNONSIQPNOSIMPMRSGKRIRNMPMRSO@@RKMRSQN PFERNMO5 MPLQSO@@RKMRSGOMKPNNOSRIIRKRSJRGOIQMPMRSGKRIIO LPS3PNHRLLRKQPDSNRLLRS@OKERSJQSHFQSPLL=PKM?S.(4 H?G?H?DSGKRIMPNJOSHPFCQONRSGRKSFNPSIOEEP GPKQSPLSJOGGQOSJRLLPSHPFCQONRSARKIPMPSGRKSLP
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
ERNMRSGKOAARJRSPLSJRGOIQMODSQLSNOERSJRLS$QF> JQHRS JRLL=RIRHFCQONRS RS LPS JPMPS JRLL=FJQRNCP @QIIPMPS GRKS LPS ARNJQMP5S LRS <FIMRS IPKPNNO PGRKMRSPLL=FJQRNCPSIMP<QLQMPSGRKSL=QNHPNMOSPLLP GKRIRNCPSJRBLQSO@@RKRNMQDSOARSHOEGPKIQ? - R O@@RKMRSQNSPFERNMODSPSGRNPSJQSQNPEEQIIQ<QLQM:D NONSJRAONOSRIIRKRSQN@RKQOKQSPJSRFKOS4?/99D99 GRKSQLSLOMMOSN?4SRSPJSRFKOS ?.99D99SGRKSQLSLOMMO N?,?S ;LSGPBPERNMOSJRLSGKRCCOSJQSPBBQFJQHPCQONRD JRJOMMPS LPS HPFCQONRS BQ:S GKRIMPMPDS JRARS RI> IRKRSR@@RMMFPMOSJPLL=PBBQFJQHPMPKQOSNRLLPS3PN> HRLLRKQPSJRLLRSRIRHFCQONQS;EEO<QLQPKQSRNMKOSQL IRIIPNMRIQEOSBQOKNOSJPLLPSJPMPSJQSPBBQFJQHP> CQONRDSERJQPNMRSPIIRBNOSHQKHOLPKRSQNMRIMPMO PLLRS OIMRS;MPLQPNRSI?G?P? *OLMPNMOS PL> L=RIQMOS JRLL=PJREGQERNMOS GKRHRJRNMRDS JRLLP GKOJFCQONRSJQSPBBQOKNPMQSHRKMQ@QHPMQSHPMPIMPLQSR JQSPBBQOKNPMQSHRKMQ@QHPMQSKRLPMQAQSPLLRSQIHKQCQONQSR MKPIHKQCQONQSR@@RMMFPMRSIFLS<RNRSNONH0 SJRLSGP> BPERNMOS JRLLRS IGRIRS JQS MKPI@RKQERNMOS JP GPKMRS JRLL=PBBQFJQHPMPKQODS HFQS KRIMPNOS KQIRK> APMRSLRSPMMQAQM:SRSQSHOIMQSGRKSLPSHPNHRLLPCQONR JRLLRS@OKEPLQM:DSIPK:SRERIIOSQLSJRHKRMOSJQSMKP> I@RKQERNMODSPQSIRNIQSJRLL=PKM?S.#!SH?G?H?? - P GF<<LQHQM:SJRLLPSGKRIRNMRSOKJQNPNCPSJQSARNJQMP JRARSRIIRKRSR@@RMMFPMPSNRLSMRKEQNRSJQS2FPKPN> MPHQN2FRSBQOKNQSGKQEPSJRLSMRKEQNRSGRKSLPSGKR> IRNMPCQONRS JRLLRS O@@RKMRS OS JRLLPS JPMP JRLL=QNHPNMOSERJQPNMRSP@@QIIQONRDSIFSQEGFLIO JRLSHKRJQMOKRSGKOHRJRNMRDSJPSGPKMRSJRLLPSGKR> JRMMPS3PNHRLLRKQPDSNRLL=PL<OSJQS2FRIMOS+KQ<F> NPLRDS JQS FNS PAAQIOS HONMRNRNMRS MFMMQS QS JPMQ KQGOKMPMQSNRLLPSGKRIRNMRSOKJQNPNCPSRSGF<<LQHP> CQONRSJRLLPSIMRIIPDSPSHFKPSJRLSHKRJQMOKRSGKO> HRJRNMRDSIFS KOBRMMOS8IMRS RJQPMPB ? -PERCQPS+RKERDS#S@R<<KPQOS/94/? ;LS3PNHRLLQRKR ;LS$QFJQHRSJRLL=7IRHFCQONR " ;3;1S7*73" ;16;S; 1 ;-;8 ; 8%%;*1S';S%76';+8S';S 76; ; 1 ;-;S ;$61 8+;S 7 S8 +S.!&S31 8S,S3 3 *;S 76'7S61+1S 30RSQLS$QFJQHRSJRLL=7IRHFCQONRD NRLLPS06;/8-.6:<818/.59&:<9++;"979:68 4 ,)3! ! HONS OKJQNPNCPS RERIIPS PLL=FJQRNCP //?9/?/94/S0PSJQIGOIMOSLPSARNJQMPSIRNCPSQN> HPNMOSJRLSLOMMOSFNQHOSNRLLOSIMPMOSJQS@PMMOSRSJQ JQKQMMOSQNSHFQSIQSMKOAPSGRKSQLS4,?9!?/94/DSRJS0P @QIIPMOSGRKSQLSHPIOSQNSHFQSLPSIMRIIPSNONSP<<QP LFOBOSLPSARNJQMPSHONSQNHPNMOSJRLSERJRIQEO LOMMOSNRLLOSIMPMOSJQS@PMMOSRSJQSJQKQMMOSQNSHFQSIQ MKOAPSGRKSL=FJQRNCPSJRLS/(?9!?/94/5 >S .;5:<0:69<:-<) $<-877:<0984: 06;06985 <-9<.4:<.495 <9++;"979:68</;+0; 15:< -:< -.8< 7;/:79< 1;&6:15:459< -9< &8// 9: /;156. 9;482<195:<487</8456;<15;69/;<-87</; +.48< -9< (;65:782< 9:< 84:5;68< ;-:6;2 4, !,< 7</810958< <690;65:5;<487< ( <:7<'; #79;<) 2<0,77:<!*$2<1."<%2<09:4;<5866:2</:5 %2</7:118<)2<&:49<)2<8<1."< 2<069+;<09:4;2 /:5,<: %2</7:118<)2<&:49<) 8.6;<),*33233 >S ':""69/:5;< -9< &8// 9:< /;156. 9;48<1.<-.8<79&87792<195;<487</8456;<15;69/; -87< (;+.48< -9< (:6:'':2< 9:< .#7987+; 8082<690;65:5;<:7< ( <:7<';#79;< 2<0,77: $ 2< 09:4;< 5866:< 8< 09:4;< 069+;2< /:5,< ( * /7:118<*2</;4191584 :<$!<+ , 8.6;< ,333233 S :008 :+845;< -9< 586684; 94/;75;< -9< + ,< **332< 195;< 487< /;+.48< -9 (:6:'':<:7<';#79;<))2<0,77:<*2<18+94:59&;<-9 /7:118<% 8.6;<),333233< *;S 76'7S8631 8S61+1S3 7S;-S$7S 8 *+8 ;-;+1S3 7S-8S%76';+8S8%%;767S 8--7S*7$"76+;S316'; ;16; %76';+8S*76 8S;6386+1
FPNMOSPLLPSARNJQMPSIRNCPSQNHPNMODSJPSR@@RM> MFPKIQSPLSGKRCCOS<PIRSJQSRFKOS4?/99D99SGRKSQL LOMMOSN?S/DSJQSRFKOS!?999D99SGRKSQLSLOMMOSN?S,SR JQSRFKOS4?999D99SGRKSQLSLOMMOSN?S 5S HQPIHFNS O@@RKRNMRDS PQS IRNIQS JRLL=PKM?S .(4D HOEEPS 4DS H?G?H?DS MKPNNRS QLS JR<QMOKRDS )S PE> ERIIOSPS@OKEFLPKRSO@@RKMRSGRKSL=PH2FQIMOSGRK> IONPLERNMRSOSPSERCCOSJQSGKOHFKPMOKRSLRBPLRD PNH0RSPSNOKEPSJRLL=PKM?S.(&DSHOEEPS,DSH?G?H? QLSGKOHFKPMOKRSLRBPLRSJOAK:DSQNSOBNQSHPIODSRI> IRKRSEFNQMOSJQSEPNJPMOSIGRHQPLRSKQIFLMPNMRSJP PMMOSGF<<LQHOSOSIHKQMMFKPSGKQAPMPSPFMRNMQHPMPD NONSRIIRNJOSIF@@QHQRNMRSL=OKJQNPKQOSEPNJPMO PLLRS LQMQ5S NRLL=QGOMRIQS JQS HFQS PLS HQMPMOS PKM?S .(&D HOEEPS,DSQLSEPNJPMOSIGRHQPLRSKQIFLMPNMRSJP PMMOSGF<<LQHOSOSIHKQMMFKPSGKQAPMPSPFMRNMQHPMP JOAK:S RIIRKRS JRGOIQMPMOS HONMRIMFPLERNMR PLLPSJQH0QPKPCQONRSJRLSNOEQNPMQAOSJRLLPSGRK> IONPDSJPSR@@RMMFPKIQSNRLSMRKEQNRSJQSHFQSPLL=PKM? .#,DSHOEEPS4DSH?G?H? DSGKRIRNMPNJOSGKRIIO LPS3PNHRLLRKQPSJRLLRS7IRHFCQONQS;EEO<QLQPKQD JQH0QPKPCQONRDSQNSKRBOLPSHONSQLS<OLLODSHONMR> NRNMRDSPSGRNPSJQSQNR@@QHPHQPDSL QNJQHPCQONRSJRL
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
7>88@A**(+ 4 A 8A8=<<=A5=<9 A>66>9>A09@1@<= :@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= A ')')$(,((
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
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A% A:?A2=9.@A<9?@;0=8@9> >A#3@6?A<9@5>/=?-:@8>A:>6<?;@<@A@A0?@9:?;= 9?7@:>;<>A:@8A8@<=A63:A:>8A1?88@00?=A 3=1@ >.>6@A ;>88=A 65@/?=A @:?4?<=A 7@-<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*%)A634A**(&A:>8A2=08?=A:?A.@55@A)+ :>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?; @:?@7>;/@,A:@8A8@<=A63:,A@8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<<?//@-/?=;>A7=; "A&%A>:A?;A7@<@6<=A7=;A8@A5@9<?7>88@A*%+,A> 7=;2?;@;<>A@A63:A7=;A6<9@:><<@A:?A8=<<?//@/?=;>A>A@:A=1>6<A7=;A65@/?=A8?4>9= A 8A8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?03= ')'$%),$$
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A (A:?A2=9.@A<9?@;0=8@9> >A#3@6?A<9@5>/=?-:@8>A:>6<?;@<@A@A0?@9:?;= 9?7@:>;<>A:@8A8@<=A;=9:A:>8A1?88@00?=A 3=1@ >.>6@A ;>88=A 65@/?=A @:?4?<=A 7@<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*& A634A**(+A:>8A2=08?=A:?A.@55@A)+ :>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?; @:?@7>;/@,A:@8A8@<=A63:,A@8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<<?//@/?=;>A7=;A" A>:A?;A7@<@6<=A7=;A8@A5@9<?7>88@A*&%,A>A7=;2?;@;<>A @A ;=9:A 7=;A 6<9@:><<@A :?A 8=<<?//@/?=;>A>A@:A>6<A7=;A65@/?=A8?4>9= A 8A8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?03= ')'%*$,+(
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A+)A:?A2=9.@A<9?@;0=8@9> >A#3@6?A<9@5>/=?-:@8>A:>6<?;@<@A@A0?@9:?;= 9?7@:>;<>A:@8A8@<=A;=9:A:>8A1?88@00?=A 3=1@ >.>6@A ;>88=A 65@/?=A @:?4?<=A 7@<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*& A634A**()A:>8A2=08?=A:?A.@55@A)+ :>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?; @:?@7>;/@,A:@8A8@<=A63:,A@8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<<?//@/?=;>A7=;A" A>:A?;A7@<@6<=A7=;A8@A5@9<?7>88@A*&%,A>A7=;2?;@;<>A @A ;=9:A 7=;A 6<9@:><<@A :?A 8=<<?//@/?=;>A>A@:A>6<A7=;A65@/?=A8?4>9= A 8A8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?03= '*'*! ,!$
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A+%A:?A2=9.@A<9?@;0=8@9> :>6<?;@<@A @A 0?@9-:?;=A 9?7@:>;<>A :@8A 8@<= ;=9:A :>8A 1?88@00?=A 3=1@A >.>6@A ;>88= 65@/?=A@:?4?<=A7@<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*$$A634A+&A:>8 2=08?=A:?A.@55@A)+A:>8A =.3;>A:?A =7>9@ >9?;>6>,A5=6<@A?;A@:?@7>;/@,A:@8A8@<=A63:, @8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<<?//@/?=;>A7=;A"A* A>:A?;A7@<@6<=A7=;A8@ 5@9<?7>88@A *$&,A >A 7=;2?;@;<>A @A ;=9:A 7=; 6<9@:><<@A:?A8=<<?//@/?=;>A>A@:A=1>6<A7=; 65@/?=A8?4>9= A 8A8=<<=A5=<9 A>66>9>A09@1@<= :@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= A '*)((,((
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A*(+A:?A2=9.@A<9?@;0=8@9>A>A#3@6?A<9@5>-/=?:@8>A:>6<?;@<@A@A0?@9:?;=A9?7@:>;<>A:@8A8@<=A;=9:A:>8A1?88@00?= 3=1@A >.>6@A;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<>A @A 7=9<>A >:A ?;:?1?:3@<@A 7=;A 8@ 5@9<?7>88@A *$ A 634A **(+A :>8A 2=08?=A : .@55@A )+A :>8A =-.3;>A :?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@,A:@8A8@<=A63:,A@8 7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<-<?/-
/@/?=;>A7=;A"A+*A>:A?;A7@<@6<=A7=;A8@A5@9<?7>88@A*$!,A>A7=;2?;@;<>A@A;=9:A7=;A6<9@:><<@A :?A 8=<<?/-/@/?=;>A >A @:A =1>6<A 7=; 65@/?=A8?4>9= A 8A8=<<=A5=<9 A>66>9>A09@1@<= :@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= '$'+% ,!%
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
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A&)A:?A2=9.@A<9?@;0=8@9> >A#3@6?A<9@5>/=?-:@8>A:>6<?;@<@A@A0?@9:?;= 9?7@:>;<>A:@8A8@<=A;=9:A:>8A1?88@00?=A 3=1@ >.>6@A ;>88=A 65@/?=A @:?4?<=A 7@<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*%*A634A**()A:>8A2=08?=A:?A.@55@A)+ :>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?; @:?@7>;/@,A:@8A8@<=A63:,A@8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@A8=<<?//@/?=;>A7=;A" +)A >:A ?;A 7@<@6<=A 7=;A 8@A 5@9<?7>88@A *%(,A > 7=;2?;@;<>A@A;=9:A7=;A6<9@:><<@A:?A8=<<?//@/?=;>A>A@:A=1>6<A7=;A65@/?=A8?4>9= A 8 8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= '+'++(, %
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A$+A@<<3@8.>;<>A@:?4?<@ @A0?@9:?;=A7=;2?-;@;<>A:@8A8@<=A;=9:A7=;A? 7=95?A:?A2@449?7@A - A>A:@?A9>6<@;<?A8@<?A7=; 1?>A:?A8=<<?//@/?=;>A>:A?;:?1?-:3@<@A7=;A8@ 5@9<?7>88@A+++A634A****A:>8A2=08?=A:?A.@55@ )+A:>8A =.3;>A:?A =7>9@A >9?;>6> A 8A8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?03= '+'!%$,$!
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A+ A@<<3@8.>;<>A@:?4?<@ @A0?@9:?;=A7=;2?-;@;<>A:@8A8@<=A;=9:A7=;A? 7=95?A:?A2@449?7@A - A>A:@?A9>6<@;<?A8@<?A7=; 1?>A:?A8=<<?//@/?=;>A>:A?;:?1?-:3@<@A7=;A8@ 5@9<?7>88@A +++A 634A *** A :>8A 2=08?=A :? .@55@A )+A :>8A =.3;>A :?A =7>9@A >9?;>6> A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= '*') &,&)
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A & ,+ A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A++* **(%A7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A A5@9<?7>88@A++* >A5@9<?7>88@ ++* 0A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A 7=;<?03= "39= +')%),$(
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A@1>;<>A8 >6<>;6?=;>A:?A.#A+ ), $A:? 2=9.@A9><<@;0=-8@9>A:>6<?;@<@A@A0?@9:?;= ?;:?1?:3@<@A7=;A8@A5@9<?7>88@A++* **($A7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A ,A5@9<?7>88@A++* 2A5@9<?7>88@ ++* A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A 7=;<?03= "39= *&'%! ,$(
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A +,!%A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++) 7A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A ,A5@9<?7>88@A++)A634A*((), 5@9<?7>88@A++)A634A*(($,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A :?A @77>66=A @8A 2@449?7@<=A 7=;<?03= "39=A)'%&),((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A (, *A :? 2=9.@A 9><<@;0=8@9>A :>6<?;@<@A @A 0?@9:?;= 7=;A>;<9=6<@;<>A7=6<93/?=;>A:?A.#A (, * ?;:?1?:3@<@A7=;A8@A5@9<?7>88@A++) 0A7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A " A5@9<?7>88@A++) 2,A5@9<?7>88@ ++) 0,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03=A "39=AA$&'*&!,((A
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A !(,%&A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++& @A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A A5@9<?7>88@A++& 4,A65@/?=A8?4>9=,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9
>66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03= "39=A&'()+,((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A !*, (A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++& 4A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A A5@9<?7>88@A++& @,A5@9<?7>88@ ++& 7,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03= "39=A&'(!$,((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A !*, (A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++& 7A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A A5@9<?7>88@A++& 4,A5@9<?7>88@ ++& :,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03= "39=A&'( $,((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A (, !A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A%) A7=;2?;@;<> 7=;A7=95=A:?A2@449?7@A:>;=.?;@<=A @449?7@<=A A 5@9<?7>88@A %&+,A 5@9<?7>88@A %&), 6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= "39=A)'$) ,((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A $+, (A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++& A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?;@<= @449?7@<=A A5@9<?7>88@A++& 0,A5@9<?7>88@ ++& ?,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03= "39=A+'%)$,((
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A $),$$A :? 2=9.@A9><<@;0=8@9>A:>6<?;@<@A@A0?@9:?;=A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A++& ?A7=;2?;@;<> 7=;A7=95=A:?A2@449?7@A:>;=.?;@<=A @449?7@<=A A5@9<?7>88@A++& ,A5@9<?7>88@A++& 8, 6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= "39=A+'% ,$(
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A )&,((A :? 2=9.@A:?A<9?@;0=8=A:>6<?;@<@A@A0?@9:?;=A9?7@:>;<>A ;>8A ?88@00?=A 3=1@A >.>6@A ?; @:?@7>;/@A@88=A65@/?=A@:?4?<=A@A7=9<>A:>8 2@449?7@<=A" *!A?;:?1?:3@<@A?;A7@<@6<=A@8 8'A )+A :?A =7>9@A >9?;>6>A 5@9<?7>88@A *$$ 634'A7 'A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@ 6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= "39=A*' ((,((A
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A $)A :? 2=9.@A:?A<9@5>/?=-9><<@;0=8=A:>6<?;@<@A@ 0?@9:?;=A9?7@:>;<>A;>8A ?88@00?=A 3=1@A >.>6@A?;A@:?@7>;/@A@88=A65@/?=A@:?-4?<=A@ 7=9<>A:>8A2@449?7@<=A" *(A?;:?1?:3@<@A?;A7@<@6<=A@8A 8'A)+A:?A =7>9@A >9?;>6>A5@9<?7>88@ *& A634'A** 'A 8A8=<<=A5=<9 A>66>9>A09@1@<= :@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= "39=A+'%$(,((A
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A **,((A :? 2=9.@A:?A<9@5>/?=-9><<@;0=8=A:>6<?;@<@A@: @9>@A1>9:>A9?7@:>;<>A;>8A ?88@00?=A 3=1@ >.>6@A?;A@:?@7>;/@A@88=A65@/?=A@:?4?<=A@ 7=9<>A:>8A2@449?7@<=A *A?;:?1?:3@<@A?;A7@<@6<=A@8A 8'A)+A:?A =7>9@A >9?;>6>A5@9<?7>88@ %% A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03=' "39=A$$(,((A
7=.5=6<=A:@A 635>92?7?>A:?A<>99>;=A @1>;<>A 8 >6<>;6?=;>A :?A .#A & ,!(A :? 2=9.@A9><<@;0=8@-9>A:>6<?;@<@A@A0?@9:?;=, ?;:?1?:3@<@A 7=;A 8@A 5@9<?7>88@A ++) ?A 7=;2?;@;<>A7=;A7=95=A:?A2@449?7@A:>;=.?-;@<= @449?7@<=A " A5@9<?7>88@A++) ,A65@/?=A8?4>9=,A6<9@:@A:?A8=<<?//@/?=;> A 8A8=<<=A5=<9 >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A @8 2@449?7@<=A7=;<?03= "39=A+'& (,((
635>92?7?>A :?A <>99>;=A @1>;<> 8 >6<>;6?=;>A:?A.#A $A:?A2=9.@A<9@5>/=?:@8>A :>6<?;@<@A @A 0?@9:?;=A 9?7@:>;<>A :@8 8@<=A63:A:>8A1?88@00?=A 3=1@A >.>6@A;>88= 65@/?=A@:?4?<=A7@<@6<@8.>;<>A@A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A% A634A**(+ 4 :>8A2=08?=A:?A.@55@A)+A:>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@,A:@8A8@<= 63:,A@8A7=95=A:?A2@449?7@A?;:?1?:3@<=A;>88@ 8=<<?//@/?=;>A7=;A"A&!A>:A?;A7@<@6<=A7=;A8@ 5@9<?7>88@A%!,A>A7=;2?;@;<>A@A63:A7=;A6<9@:><<@A:?A8=<<?//@/?=;>A>A@:A=1>6<A7=;A65@/?=A8?4>9= A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@
6>91?< A:?A@77>66=A@8A2@449?7@<=A7=;<?03= ')' $(,((
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A :?A 7?97@A .#A +!,!(A :?A 2=9.@ <9?@;0=8@9>A:>6<?-;@<@A@A0?@9:?;=A9?7@:>;<> ;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<>A@A7=9<> >:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*) A634A7 :>8A2=08?=A:?A.@55@A)+A:>8A =.3;>A:?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@A@8A8@<= 63:A:>8A7=95=A:?A2@449?7@A"+A 5'88@A*)! , 7=;2?;@;<>A@A;=9:A7=;A6<9@:@A:?A8=<<?//@/?=;>,A@:A>6<A7=;A65@/?=A8?4>9=,A@A63:A7=; 8@A5'88@A*) A634A: ,A@:A=1>6<A7=;A2@449?7@<= "+ A 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A :?A @77>66=A @8A 2@449?7@<=A 7=;<?03= 'A*'&! ,) '
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A :?A 7?97@A .#A $*,%(A :?A 2=9.@ <9@5>/=?:@8>A :>-6<?;@<@A @A 0?@9:?;=A 9?7@:>;<>A;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<> @A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*) 634A: A:>8A2=08?=A:?A.@55@A)+A:>8A =.3;> :?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@A@8 8@<=A 63:A :>8A 7=95=A :?A 2@449?7@A "+A 5'88@ *)! ,A7=;2?;@;<>A@:A>6<A7=;A67@8@A:?A7=88>0@.>;<=A@8A5?@;=A59?.=A>A2@449?7@<=A"+,A@ ;=9:A7=;A8@A5'88@A*) A634A7 ,A@:A>6<A7=; 65@/?=A8?4>9=,A@A63:A7=;A8@A5'88@A*) A634 > ,A @:A =1>6<A 7=;A 2@449?7@<=A "+A A 8A 8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?-03= 'A+'%%&,%+'
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A :?A 7?97@A .#A &+,((A :?A 2=9.@ <9@5>/=?:@8>A :>-6<?;@<@A @A 0?@9:?;=A 9?7@:>;<>A;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<> @A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*) 634A> A:>8A2=08?=A:?A.@55@A)+A:>8A =.3;> :?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@A@8 8@<=A 63:A :>8A 7=95=A :?A 2@449?7@A "+A 5'88@ *)! ,A7=;A6>91?< A:?A5@66@00?=A5>9A8@A67@8@ :?A 7=88>0@.>;<=A @8A 5?@;=A 59?.=,A 7=;2?;@;<>A @A ;=9:A 7=;A @9>@A 394@;@A :?A 5>9<?;>;/@,A@:A>6<A7=;A8@A5'88@A*) A634A: ,A@: >6<A >:A @A 63:A 7=;A 65@/?=A 8?4>9= A 8A 8=<<= 5=<9 A >66>9>A 09@1@<=A :@A 6>91?< A :?A @77>66=A@8A2@449?7@<=A7=;<?03= A+'*%!,!!'
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
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A :?A 7?97@A .#A +%,$(A :?A 2=9.@ <9@5>/=?:@8>A :>-6<?;@<@A @A 0?@9:?;=A 9?7@:>;<>A;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<> @A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*&) 634A> A:>8A2=08?=A:?A.@55@A)+A:>8A =.3;> :?A =7>9@A >9?;>6>,A5=6<@A?;A@:?@7>;/@A@8 8@<=A 63:A :>8A 7=95=A :?A 2@449?7@A "%A 5'88@ *&+ ,A7=;A6>91?< A:?A5@66@00?=A5>9A8@A67@8@ :?A 7=88>0@.>;<=A @8A 5?@;=A 59?.=,A 7=;2?;@;<>A@A;=9:A7=;A8@A5'88@A*&)A634A: ,A@:A>6< 7=;A8@A5'88@A*&)A634A2 ,A@A63:A7=;A65@/?= 8?4>-9= ,A @:A =1>6<A 7=;A 67@8@A :?A 7=88>0@.>;<=A@8A5?@;=A59?.= A 8A8=<<=A5=<9 A>66>9> 09@1@<=A:@A6>91?< A:?A@7-7>66=A@8A2@449?7@<=A7=;<?03= 'A*')%!,&%'A
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A :?A 7?97@A .#A +),!(A :?A 2=9.@ <9@5>/=?:@8>A :>-6<?;@<@A @A 0?@9:?;=A 9?7@:>;<>A;>88=A65@/?=A@:?4?<=A7@<@6<@8.>;<> @A7=9<>A>:A?;:?1?:3@<@A7=;A8@A5@9<?7>88@A*&) 634A2 A:>8A2=08?=A:?A.@55@A)+A:>8A =.3;> :?A =7>9@A >9?;>6>,A7=;2?;@;<>A@:A=1>6< 7=;A8@A5'88@A*&)A634A> ,A@A;=9:A7=;A8@A5'88@ *&)A634A: ,A@:A>6<A>A63:A7=;A65@/?=A8?4>9= 8A8=<<=A5=<9 A>66>9>A09@1@<=A:@A6>91?< A:? @77>66=A @8A 2@449?7@<=A 7=;<?03= A*'++ ,()'
635>92?7?>A:?A<>99>;=A@1>;<> 8 >6<>;6?=;>A:?A.#A&*,$(A:?A2=9.@A<9@5>-
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
DKJOI:MEHLJ?LOFMOCLGHNDMCL?MKJN@OFLOCGNENJ; HLGEMOMJO9BEHLOD2MBEL@OENJ?LOEN<JMOFMOGMDKJK; EDMANJHK@OFN=NONEENGNOFNCKEMHLHKOLEEN<JK DMGDKILGNOJKJOHGLE>NGM9MIN@OMJHNEHLHKOLIILODBGL; HNILOFNIO&LIIMANJHKO J7O ((" # @OHGLAMHNODBMON>; >NHHBLGNOMIO=NGELANJHKOFNIILODLB?MKJNO NFOMJ DKJHKOCGN??KOFMOL<<MBFMDL?MKJN%@OMJOGL<MKJN FMOBJOFN;DMAKOFNIOCGN??KO9LENOF:LEHL6 LII.NEHNGJKOFNIILO9BEHLO=LJJKOLJJKHLHM@OLODBGL FNIO DLJDNIIMNGNO GMDN=NJHN@O MIO JKAN@O CGN=ML MFNJHM>MDL?MKJN@O FMO D2MO ALHNGMLIANJHNO CGK=; =NFNOLIOFNCKEMHK@OMIOJKANOFNIO<MBFMDNOFNIN; <LHKO NO ILO FLHLO FNII.BFMNJ?LO >MEELHLO CNGO IL =NJFMHL6OINO9BEHNOELGLJJKOLCNGHNOLII.BFMNJ?L EHL9MIMHLOCNGOI:MJDLJHKOLIILOCGNENJ?LOFN<IMOK>; >NGNJHM@OK=NODKA;CLGEM6 MJOK<JMODLEK@OINOECNENOFNIOHGLE>NGMANJHKODN; FKJKOLODLGMDKOFNII:L<<MBFMDLHLGMK@ODBMOGNEHLJK GMENG=LHNOINOLHHM=MH3ONFOMODKEHMOCNGOILODLJDNIIL; ?MKJNOFNIINO>KGALIMH36 54O /-8 514/O8--8O /4 5)8O ,/4 8O54084)1O 8O&5,,8)1@ CNGOILOCGNENJHL?MKJNOCGNEEKOILO0LJDNIINGML &LIIMANJHLGNOFNIINOK>>NGHNOFMOLD+BMEHK@ON OLGH7 ('OD7C7D7@OFNII:MAAK9MINOEKCGLOMJFMDLHKONOAN; <IMKOFNEDGMHHKOJNIILOGNIL?MKJNOFNII:NECNGHKOMJ LHHM@ODBMOEMO>LONECGNEEKOGM>N;GMANJHK@OHNGAMJN >MJKOLIINOKGNO'$7**OFNIO''"*#"$*'$@ODKJOINOAK; FLIMH3ONOCNGOMIOCGN??KO9LENOFMODBMOEKCGL6 CNGOI:NELANOFNIINOK>>NGHNOFMOLD+BMEHK@OLMOENJEM FNII:LGH7O ($OD7C7D7@OK==NGKOCNGOILO<LGLOEBIIN ANFNEMAN@OENOCGNENJHLHNOMJOAMEBGLOEBCNGMKGN LFOBJL@OI:BFMNJ?LOFNI !' &" '&!' KGNOFMOGMHK6 &5,,8@O4/-O08,1O54O0!5O-8O /4 5)8 ,/4 8O54084)1O414O8 58O-!1 1@ CNGOILOCGNENJHL?MKJNOCGNEEKOILO0LJDNIINGML &LIIMANJHLGNO FNII:MEHLJ?LO FMO CLGHNDMCL?MKJN L<IMO MJDLJHM@O HNGAMJNO >MJKO LIINO KGNO '$7** FNI "*("$*'$@O DKJO INO AKFLIMH3O NO CNGO MI CGN??KOAMJMAKOFMODBMOEKCGL6 CNGOMIO<MKGJKOO!& & '&!'/ KGNOFMOGMHK@OILO=NJ; FMHLOLMOCB99IMDMOMJDLJHMOFNII:MAAK9MINOEKCGLOMJ; FMDLHKO NO AN<IMKO FNEDGMHHKO JNIILO GNIL?MKJN FNII:NECNGHKOMJOLHHM@ODBMOEMO>LONECGNEEKOGM>NGM; ANJHK@ODKJOINOAKFLIMH3ONOCNGOMIOCGN??KO9LEN FMODBMOMJJLJ?M6 8O,)8 5-5)1@O8-) /, @O0 /O-8O /4 5)8O8 5/4/O8--/O,/ !/4)5O 014 5 5145@OO,58O !8-1 8O 5O,5O &80058O-!1 1O,/4 8O54084)1@O,58O !8-1 8O 5O,5O&80058O-!1 1O 014O54084)1 <IMO MAAK9MIMO =NJ<KJKO CKEHMO MJO =NJFMHLO JNIIK EHLHKOFMO>LHHKONOFMOFMGMHHKOMJODBMOEMOHGK=LJK@ODKE DKANO MFNJHM>M;DLHM@O FNEDGMHHMO NO =LIBHLHMO FLI; I:NECNGHKOJNIILOGNIL?MKJN@ODKJOK<JMON=NJHBLIN ENG=MH OLHHM=LONOCLEEM=LOMJNGNJHNONO+BKHNODKJ; FKAMJMLIMOGNILHM=N6 ILO=NJFMHLO OLODKGCKONOJKJOLOAMEBGL6ON=NJHBLIM FM>>NGNJ?NOFMOAMEBGLOJKJOCKHGLJJKOFLGOIBK<K LFOLIDBJOGMELGDMANJHK@OMJFNJJMH3OKOGMFB?MKJN FNIOCGN??K6OILO=NJFMHLO>KG?LHLOJKJO OEK<<NHHL LIINOJKGANODKJDNGJNJHMOILO<LGLJ?MLOCNGO=M?MOK ALJDLJ?LOFMO+BLIMH3@OJ OCKHG3ONEENGNOGN=K; DLHLOCNGOLIDBJOAKHM=K7O0KJEN<BNJHNANJHN I:NEMEHNJ?LO FMO N=NJHBLIMO =M?M@O ALJDLJ?LO FM +BLIMH3OKOFM>>KGAMH3OFNIILODKELO=NJFBHL@OKJNGM FMO+BLIEMLEMO<NJN;GNO;OM=MODKACGNEM@OLFONENA; CMK@O+BNIIMOBG9LJMEHMDMOK==NGKOFNGM=LJHMOFLIIL N=NJHBLINOJNDNEEMH3OFMOLFN<BLANJ;HKOFMOMA; CMLJHMOLIINOIN<<MO=M<NJHM@OECNENODKJFKAMJMLIM FNII:LJJKO MJO DKGEKO NO FNII:LJJKO CGNDNFNJHN JKJOCL<L;HNOFLIOFN9MHKGNO;OCNGO+BLIEMLEMOAK; HM=KOJKJODKJEMFNGLHM@OLJD2NOENOKDDBIHMONODK; ABJ+BNO JKJO N=MFNJ?MLHMO MJO CNGM?ML@O JKJ CKHGLJJKOFLGOIBK<KOLFOLIDBJOGMELGDMANJHK@OMJ; FNJJMH3OKOGMFB?MKJNOFNIOCGN??K@ONEENJFKEMOFM DM OHNJBHKODKJHKOJNIILO=LIBHL?MKJNOFNMO9NJM6 I:L<<MBFMDLHLGMKOFK=G3O=NGELGNOILOFM>>NGNJ?L FNIOCGN??KO FNHGLHHLOFLIOCGN??KOFMOL<<MBFMDL; ?MKJNOILODLB?MKJNOFMODBMOEKCGL%ONJHGKOBJOHNG; AMJNO ALEEMAKO FMO #*O <MKGJMO FLIILO FLHLO FM L<<MBFMDL?MKJNOANFMLHNOLEEN<JKODMGDKIL;GN JKJOHGLE>NGM9MINOMJHNEHLHKOLIILODBGLHNILOFNIO&LI; IMANJHKO J7O ((" # OO6OMJOALJDLJ?L@OEMOCGK=; =NFNG3OLOJKG;ALOFNII:LGH7O (OD7C7D76 EKIHLJHKO LII:NEMHKO FN<IMO LFNACMANJHMO CGNDN; FNJHM@OFNIILOCGKFB?MKJNOFMOL<<MKGJLHMODNGHM>MDLHM DLHLEHLIMONOFMOL<<MKGJLHMODNGHM>MDLHMOGNILHM=MOLIIN MEDGM?MKJMO NO HGLEDGM?MKJMO N>>NHHBLHNO EBIO 9NJN JKJD2 OFNIOCL<LANJHKOFNIINOECNENOFMOHGLE>N; GMANJHKO FLO CLGHNO FNII:L<<MBFMDLHLGMK@O CNG
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
4,9C 19 '1C ,3@<B> C 6A4B;@>B)?7C 8<@66AC 27 :A==9C =?4B;B8@<AC /C '72'7C :A==9C @.:@:B?C / 172! C 4,9C *!$C ,3@<B> C 3<B)A>?7C 8<@66AC -7 :A==9C=?4B;B8@<AC/C17 '7C:A==9C@.:@:B?7C/ 17!$9 $% ! % # "!% $#% # !#"$ $"!% /C'9*55755 $""$%# % % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;AC3<B)A>?C6B>?CB;C<?89C"B>B>>? AC+ B@;>BC=A<C+?43;AC=BC"B@;?0?<BC=BC4,9 *9%55C8B:8@7C8@>@6>@<4A;>ACB=A;>B(B8@>?C@< 9+9 9C =A<C 63==A>>?C 8?43;AC @<C (?.<B?C %7 09<<@C 2-!7C 8<@66AC 27C :A==9C =?4B;B8@<AC / 2%7'17C:A==9C@.:@:B?C/C257$-9C $% ! % # "!% $#% # !#"$ $"!% /C1192*5755 $""$%# % % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;AC3<B)A>?C6B>?CB;C<?89C"B>B>>? AC+ B@;>BC=A<C+?43;AC=BC"B@;?0?<BC=BC4,9 *5C 8B:8@7C 8@>@6>@<4A;>AC B=A;>B(B8@>?C @< 9+9 9C =A<C 63==A>>?C 8?43;AC @<C (?.<B?C %7 09<<@C'27C8<@66AC27C:A==9C=?4B;B8@<AC/C-71$7 :A==9C@.:@:B?C/C27-*9 $% ! % # "!% $#% # !#"$ $"!% /C19*55755 $""$%# % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;AC3<B)A>?C6B>?CB;C<?89C"B>B>>? AC+ B@;>BC=A<C+?43;AC=BC"B@;?0?<BC=BC4,9 29255C8B:8@7C8@>@6>@<4A;>ACB=A;>B(B8@>?C@< 9+9 9C =A<C 63==A>>?C 8?43;AC @<C (?.<B?C %7 09<<@C 2''7C 8<@66AC 17C :A==9C =?4B;B8@<AC / 1'7257C:A==9C@.:@:B?C/C%7*29 $% ! % # "!% $#% # !#"$ $"!% /C 9555755 $""$%# % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;AC6A4B;@>B)@C6B>?CB;C<?89 "B>B>>?CAC+ B@;>BC=A<C+?43;AC=BC"B@;?0?<B =BC4,9C!5C8B:8@7C8@>@6>@<4A;>ACB=A;>B(B8@>? @<C 9+9 9C=A<C63==A>>?C8?43;AC@<C(?.<B?C%7 09<<@C 2'*7C 8<@66AC 17C :A==9C =?4B;B8@<AC / 572-7C:A==9C@.:@:B?C/C575$9 $% ! % # "!% $#% # !#"$ $"!% /C255755 $""$%# % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;AC6A4B;@>B)?C6B>?CB;C<?89 "B>B>>?CAC+ B@;>BC=A<C+?43;AC=BC"B@;?0?<B =BC 4,9C *55C 8B:8@7C 8@>@6>@<4A;>AC B=A;>B(B# 8@>?C@<C 9+9 9C=A<C63==A>>?C8?43;AC@<C(?# .<B?C%7C09<<@C1217C8<@66AC17C:A==9C=?4B;B8@<A /C17 %7C:A==9C@.:@:B?C/C57 *9 $% ! % # "!% $#% # !#"$ $"!% /C19555755 $""$%# % 3?>@C0@:>AC=BC2 -C=A<C>A::A;? 8?;C=A6>B;@&B?;ACB;B&B@<AC6A4B;@>B)?CB::B# .3?7C @C63 B>?C)@:B@&B?;ACB;C6A4B;@>B)?C=B 4,9C19-557C3<B)A>?C=BC4,9C255CAC6A4B;@>B)? B::B.3?C =BC 4,9C 1!5C 6B>?C B;C <?89C "B>B>>?C A + B@;>BC =A<C +?43;AC =BC "B@;?0?<BC =BC 4,9 19 !5C8B:8@7C8@>@6>@<4A;>ACB=A;>B(B8@>?C@< 9+9 9C =A<C 63==A>>?C 8?43;AC @<C (?.<B?C %7 09<<@C 2-' C 4,9C 1-55C ,3@<B> C 6A4B;@>B)?7 8<@66AC 27C :A==9C =?4B;B8@<AC /C -7- 7C :A==9 @.:@:B?C /C 1751 C 4,9C 255C ,3@<B> C 3<B)A>?7 8<@66AC -7C :A==9C =?4B;B8@<AC /C 57*!7C :A==9 @.:@:B?C/C57 2 C4,9C1!5C,3@<B> C6A4B;@>B)? B::B.3?7C8<@66AC-7C:A==9C=?4B;B8@<AC/C57-17 :A==9C@.:@:B?C/C571%9 $% ! % # "!% $#% # !#"$ $"!% /C29'557555CCC OHPKDKKNPNPILKKN! 'MKMPFOII;OGMBOPFOIIOPLAAOHKOPELJPNJEMJKL!PP42 B3.;?C2512C?:AC1!7-5C -DL=LPFNPOGMBOPFOIIOPLAAOHKO!P"KDFNLP-O=MIO FOIP HLAOGGNLJNGKMPFOIO=MKLPM>>?P LGMJJMP5J: FHNEENLIMP GNKLP NJP -MBO<NMP +OHBOP MIIMP >NMP5? 5JNIOPJ?P&?P 7P9OJNPFNPEDNPGLCHMPGLJLPBO=INLPFOGEHNKKNPJOIIM HOIM<NLJOPFNPGKNBMPMPANHBMPFOIIMPFLKK?GGMP NOHM 'MGKLINPE6OPCLKH8POGGOHOPELJGDIKMKMPFMII;LAAO: HOJKO@P OFP MIIMP 2DMIOP GNP AMP OGCHOGGLP HNJ>NL MJE6OPCOHPKDKKLPEN PE6OPELJEOHJOPI;OGNGKOJ<M FNPO>OJKDMINPLJOHNPOPCOGNPMP2DMIGNMGNPKNKLILP=HM: >MJKNP GDNP 9OJN?P -MP GKOGGMP (P ELJGDIKM9NIO CHOGGLPILPGKDFNLPFOIPCHLAOGGNLJNGKMPFOIO=MKL FMIPIDJOF PMIP>OJOHF PCHO>NLPELJKMKKLPKOIOAL: JNEL?P"NPM>>NGM@PNJPL=JNPEMGL@PE6OPIMP>OJFNKM M>>NOJOPJOIILPGKMKLPFNPAMKKLPOPFNPFNHNKKLPNJPEDNPN 9OJNPGNPKHL>MJL@PELJPKDKKOPIOPO>OJKDMINPCOHKN: JOJ<O@PMEEOGGNLJN@PHM=NLJNPOFPM<NLJN@PGOH>NK MKKN>OPOPCMGGN>O3PE6OPIMP>OJFNKMP(PMPELHCLPO JLJPMPBNGDHM3PE6OPO>OJKDMINPFNAAOHOJ<OPFNPBN: GDHMPJLJPCLKHMJJLPFMHPIDL=LPMFPMIEDJPHNGMH: ENBOJKL@P NJFOJJNK8P LP HNFD<NLJOP FOIP CHO<<L3 E6OP IMP >OJFNKMP ALH<MKMP JLJP (P GL==OKKMP MIIO JLHBOP ELJEOHJOJKNP IMP =MHMJ<NMP COHP NP >N<NP L BMJEMJ<MPFNP2DMINK8@PJ PCLKH8POGGOHOPHO>L: EMKMPCOHPMIEDJPBLKN>L?P -MP CD99INENK8@P IOP BLFMINK8P FNP CHOGOJKM<NLJO FOIIOPLAAOHKOPOPIOPELJFN<NLJNPFOIIMP>OJFNKMPGLJL HO=LIMKOPELBOPGO=DO? 5PJLHBMPFOII;MHK?P1#$PE?C?E?PL=JDJL@PKHMJJOPNI FO9NKLHO@P(PMBBOGGLPMPLAAHNHOPCOHPI;ME2DNGKL FO=INPNBBL9NINPCN=JLHMKNPCOHGLJMIBOJKOPLPM BO<<LPFNPCHLEDHMKLHOPIO=MIOPMJE6OPMPJLHBM FOII;MHK?P1#$@PDIKNBLPELBBMPE?C?E?3 NIPCHLEDHMKLHOPFL>H8@PNJPL=JNPEMGL@POGGOHOPBD: JNKLP FNP BMJFMKLP GCOENMIOP HNGDIKMJKOP FMP MKKL
CD99INELPLPGEHNKKDHMPCHN>MKMPMDKOJKNEM@PJLJPOG: GOJFLPGDAANENOJKOPI;LHFNJMHNLPBMJFMKLPMIIOPINKN!P JOII;NCLKOGNPFNPEDNPMII;MHK?P1#$@PELBBMP&@PE?C?E?@ NIP BMJFMKLP GCOENMIOP HNGDIKMJKOP FMP MKKLP CD9: 9INELPLPGEHNKKDHMPCHN>MKMPMDKOJKNEMPFL>H8POG: GOHOP FOCLGNKMKLP ELJKOGKDMIBOJKOP MIIM FNE6NMHM<NLJOPFOIPJLBNJMKN>LPFOIIMPCOHGLJM@ FMPOAAOKKDMHGNPJOIPKOHBNJOPFNPEDNPMII;MHK?P1 &@ ELBBMP4@PE?C?E?3 IOPLAAOHKOPFNPME2DNGKLPFL>HMJJLPOGGOHOPCHO: GOJKMKOPNJP9DGKMPE6NDGMPOJKHLPIOPLHOP4/PFOII;44 ND=JLP/.4/?P-OPGKOGGOPCLKHMJJLPOGGOHOPCHO: GOJKMKOPCHOGGLPILPGKDFNLPFOIPGDNJFNEMKLPCHL: AOGGNLJNGKMP FOIO=MKLP FMIP IDJOF P MIP >OJOHF JO=INP LHMHNP FNP DAANENL?P ,OGGDJMP MJJLKM<NLJO FL>H8POGGOHOPMCCLGKMPGDIIMP9DGKM? "DIIMPCHOFOKKMP9DGKMPFL>HMJJLPOGGOHOPMJJL: KMKO@PMPEDHMPFOIPCHLAOGGNLJNGKMPHNEO>OJKOPLPFN GDLPFOIO=MKL@PNIPJLBOPFNPE6NPBMKOHNMIBOJKO CHL>>OFOP MIP FOCLGNKL@P NIP JLBOP FOIP NDFNEO FOII;0GOED<NLJO@P2DOIILPFOIPCHLAOGGNLJNGKMPFO: IO=MKLPOPIMPFMKMPANGGMKMPCOHPI;OGMBOPFOIIOPLA: AOHKO3 I;LAAOHOJKOPFL>H8PCHOGOJKMHOPCHOGGLPILPGKDFNL FOIP CHLAOGGNLJNGKMP FOIO=MKLP DJMP FNE6NMHM: <NLJO@PNJPHO=LIMPELJPNIP9LIIL@PELJKOJOJKOP PM COJMPFNPNJOAANEMENMP:! I;NJFNEM<NLJOPFOIPJDBOHLPFNP ? ?0?PFOIIMPCHL: EOFDHM@PFOIPCHO<<LPLAAOHKLP PE6OPJLJPCLKH8POG: GOHOP NJAOHNLHOP MIP CHO<<LP BNJNBLP NJFNEMKL JOII;M>>NGLPFNP>OJFNKMP:@PI;NFOJKNANEM<NLJOPFOI 9OJOPOPFOIPILKKLPEDNPGNPHNAOHNGEOPI;LAAOHKMPOFPL=JN MIKHLPOIOBOJKLPDKNIOPMIIMP>MIDKM<NLJOPFNP2DO: GKM@P ELBCHOGOP IOP =OJOHMINK8P FOII;LAAOHOJKO JLBO@PEL=JLBO@PIDL=LPOPFMKMPFNPJMGENKM@PEL: FNEOPANGEMIO@PHOGNFOJ<M@PGKMKLPEN>NIOPO@PGOPEL: JND=MKL@P HO=NBOP CMKHNBLJNMIOP KHMP NP ELJND=N @ LIKHOPMPELCNMPFNP>MINFLPFLEDBOJKLPFNPNFOJKNK8 FOII;LAAOHOJKOPO@PGOPJOEOGGMHNLPMP>MINFMPFLED: BOJKM<NLJOPELBCHL>MJKOPNPCLKOHNPLPIMPIO=NKKN: BM<NLJOP OG?PCHLEDHMPGCOENMIOPLPEOHKNANEMKL EMBOHMIO 3PNJPL=JNPEMGLPFNPFNE6NMHM<NLJOPCHO: GOJKMKMP FMP CN P GL==OKKN@P I;NJFNEM<NLJOP FN 2DOIIL@P KHMP 2DOGKN@P E6OP M99NMP I;OGEIDGN>MP AM: ELIK8P FNP ALHBDIMHOP O>OJKDMINP LAAOHKOP NJP MD: BOJKL3 I;OGCHOGGMPFNE6NMHM<NLJOPFNPM>OHPCHOGLP>NGNLJO FOIIMPCOHN<NMPFNPGKNBM3 MII;LAAOHKM@PFL>H8POGGOHOPMIIO=MKMPDJMPALKLEL: CNMPFOIPFLEDBOJKLPFNPNFOJKNK8@PJLJE6 PDJPMG: GO=JLPENHELIMHOPJLJPKHMGAOHN9NIOPNJKOGKMKLPMI CHLAOGGNLJNGKMPFOIO=MKLP PM>>?P LGMJJMP5J: FHNEENLIMP:@PMPKNKLILPFNPEMD<NLJO@PCOHPDJPNBCLHKL JLJP NJAOHNLHOP MIP FOENBLP FOIP CHO<<LP 9MGO F;MGKMPELBOPGLCHMPFOKOHBNJMKL@PCOJMPI;NJOAAN: EMENM?P'OKKMPGLBBMPGMH8PKHMKKOJDKMPNJPEMGL FNPHNANDKLPMII;ME2DNGKL3 I;M==NDFNEMKMHNLPCLKH8PLKKOJOHOPCOHPI;ME2DNGKL FONP9OJNPCLGKNPMII;MGKMPBDKDNPMPKMGGNPOPELJFN: <NLJNPOELJLBNE6OPCHOGKM9NINKNPFMPL=JNPGNJ=LIM 9MJEMPMFOHOJKOPMIPEF?PCHLKLELIILP5 7@PHN>LI: =OJFLGNP FNHOKKMBOJKOP MIIOP M=OJ<NOP LP ANINMIN FOIIOP9MJE6OPFNPEDNPI;OIOJELPHNGDIKMPHOCOHN9NIO CHOGGLPNIPCHLAOGGNLJNGKMPFOIO=MKLPOPCHOGGLPNI GNKLP5 73 IMPBNGDHMPFOII;MDBOJKLPFMPMCCLHKMHOPMIIOPLA: AOHKOPNJPGOFOPFNPNJEMJKLP(PFNP P1..@..PCOHPL=JN GNJ=LILPILKKL3 IMP>MINFNK8POPI;OAANEMENMPFOII;LAAOHKMPF;ME2DNGKLP( HO=LIMKMPFMII;MHK?P1#4@PELBBMP/@PE?C?E?3 I;LAAOHKMP(PNHHO>LEM9NIOPCOHP4/.P=NLHJNPFMIIMPGDM CHOGOJKM<NLJOPMNPGOJGNPFOII;MHK?P1#4@PELBBM &P@PE?C?E?3 IOPBLFMINK8PFNP>OJFNKMPMII;NJEMJKLPGLJLPHO=L: IMKOPFMII;MHK?P1 4POPGO=DOJKNPE?C?E?3 NIPKOHBNJOPFNP>OHGMBOJKLPFOIPGMIFLPFOIPCHO<<L@ JLJE6 PFNPDIKOHNLHNPLJOHN@PFNHNKKNPOPGCOGOPELJ: GO=DOJKNPMIIMP>OJFNKMP(PFNP .P=NLHJNPFMII;M==ND: FNEM<NLJOPBOFNMJKOPNIPFOCLGNKLPGDPDJPIN9HOKKL CLGKMIOPLP9MJEMHNLPJLBNJMKN>L@PNJKOGKMKLPMIIM CHLEOFDHMPOP>NJELIMKLPMII;LHFNJOPFOIP NDFNEO@ CHOGGLPIMP MJEMP LJKOPFONP MGE6NPFNP"NOJM G?C?M?@PM=OJ<NMPFNP-MBO<NMP+OHBO3 NJP EMGLP FNP NJMFOBCNBOJKLP I;M==NDFNEM<NLJO GMH8PHO>LEMKMPOPI;M==NDFNEMKMHNLPCOHFOH8PKDKKO IOPGLBBOP>OHGMKO3 IOPGCOGOPFNPKHMGAOHNBOJKLPFOIP9OJOPGLJLPMPEM: HNELPFOII;M==NDFNEMKMHNLPEDNPHOGKMJLPHNGOH>MKO IOPMKKN>NK8POPNPELGKNPCOHPIMPEMJEOIIM<NLJOPFOIIO ALHBMINK8? *AAOHKOPNJPMDBOJKLPFNPDJP2DNJKL! MP JLHBMP FOII;MHK?P 1 P E?C?E?@P M>>OJDKLP I;NJ: EMJKL@PCLGGLJLPOGGOHOPMJELHMPAMKKOPLAAOHKO F;ME2DNGKLPOJKHLPNIPKOHBNJOPCOHOJKLHNLPFNPFNOEN =NLHJNPFMIIMP=MHM@PBMPOGGOPJLJPGLJLPOAANEMEN GOP NIP CHO<<LP LAAOHKLP JLJP GDCOHMP FNP 4 1P DJ 2DNJKL P2DOIILPHM==NDJKLPJOII;NJEMJKL? OHKMJKL@PI;M==NDFNEM<NLJOPFN>OHH8PFOANJNKN>M FOELHGNPFNOENP=NLHJNPGOJ<MPLAAOHKOPNJPMDBOJKL? +MINP LAAOHKOP CLKHMJJLP OGGOHOP FOCLGNKMKO CHOGGLPILPGKDFNLPFOIPCHLAOGGNLJNGKMPFOIO=MKL@ JOIIOPALHBOPFNPEDNPMII;MHK?P1#4PE?C?E?@PCHOGKMJFL EMD<NLJOPCOHPDJMPGLBBMPCMHNPMIPFLCCNLPFOIIM EMD<NLJOP>OHGMKMPCOHPIMPCMHKOENCM<NLJOPMII;NJ: EMJKL?P7JPEMGLPFNPCHOGOJKM<NLJOPFNPKMINPLAAOHKO@ >OHH8PNJFOKKMPDJMP=MHMPGOELJFLPIOPCHO>NGNLJN FNPEDNPMII;MHK?P1 PE?C?E??
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
DMJKLPMIIMP>OJFNKMPGOJ<MPNJEMJKL@PFMPOAAOK: KDMHGNPMIPCHO<<LP9MGOPFNPODHLP4.?1 @ $! ENMGEDJP LAAOHOJKO@P MNP GOJGNP FOII;MHK?P 1#4@ ELBBMP 4@P E?C?E?@P KHMJJOP NIP FO9NKLHO@P (P MB: BOGGLPMPALHBDIMHOPLAAOHKOPCOHPI;ME2DNGKLPCOH: GLJMIBOJKOPLPMPBO<<LPFNPCHLEDHMKLHOPIO=MIO@ MJE6OPMPJLHBMPFOII;MHK?P1#$@PELBBMP&@PE?C?E? NIPCHLEDHMKLHOPIO=MIOPFL>H8@PNJPL=JNPEMGL@POG: GOHOPBDJNKLPFNPBMJFMKLPGCOENMIOPHNGDIKMJKOPFM MKKLPCD99INELPLPGEHNKKDHMPCHN>MKMPMDKOJKNEMKM@ JLJPOGGOJFLPGDAANENOJKOPI;LHFNJMHNLPBMJFMKL MIIOP INKN3P JOII;NCLKOGNP FNP EDNP MIP ENKMKLP MHK?P 1#$@ ELBBMP&@PNIPBMJFMKLPGCOENMIOPHNGDIKMJKOPFM MKKLPCD99INELPLPGEHNKKDHMPCHN>MKMPMDKOJKNEMKM FL>H8P OGGOHOP FOCLGNKMKLP ELJKOGKDMIBOJKO MIIMPFNE6NMHM<NLJOPFOIPJLBNJMKN>LPFOIIMPCOH: GLJM@PFMPOAAOKKDMHGNPJOIPKOHBNJOPFNPEDNPMII;MHK? 1 &@PELBBMP4@PE?C?E? @PCHOGOJKMJFLPCHOGGL IMP)MJEOIIOHNMPFOIIOP0GOED<NLJNP7BBL9NINMHN@ FNE6NMHM<NLJO@PNJPHO=LIMPELJPNIP9LIIL@PELJKO: JOJKO@PMPCOJMPFNPNJOAANEMENM@PI NJFNEM<NLJOPFOI JDBOHLPFNPH?=?O?PFOIIMPCHLEOFDHM@PFOIP9OJOP O FOIPILKKL PEDNPI;LAAOHKMPGNPHNAOHNGEO@PFOIPCHO<<L@ FOIPKOBCL@PFOIPBLFLPFOIPCM=MBOJKLPOPFNPL=JN MIKHLPOIOBOJKLPDKNIOPMIIMP>MIDKM<NLJOPFOII LA: AOHKM3 FOKKMP FNE6NMHM<NLJOP FO>O@P MIKHOG @P HOEMHOP IO =OJOHMINK8P FOII;LAAOHOJKOP JLBO@P EL=JLBO@ IDL=LPOPFMKMPFNPJMGENKM@PELFNEOPANGEMIO@PHOGN: FOJ<M FLBNENINL@PGKMKLPEN>NIOPO@PGOPELJND=MKL@ HO=NBOPCMKHNBLJNMIOPAHMPNPELJND=N3PNJPEMGLPFN ELBDJNLJOP IO=MIOP FONP 9OJN@P LEELHHOH8P NJFN: EMHOPMJE6OPIOP=OJOHMINK8PFOIPELJND=OPJLJPLA: AOHOJKO@PMIPANJOPFNPCLKOHPKHMGAOHNHOPMFPOJKHMB9N@ CHLP2DLKM@PNIP9OJO@PNJPEMGLPFNPM==NDFNEM<NLJO3 JOII;NCLKOGNPFNPME2DNGKLPMPKNKLILPCOHGLJMIOPFM CMHKOPFNPDJPELJND=OPNJPHO=NBOPFNPELBDJNLJO FONP9OJN@PLEELHHOPCHLFDHHO@PLIKHOPMIIMPFNE6NM: HM<NLJOPFNP2DOGK;DIKNBL@PO PMHK?P4#$@PELBBM 4@PIOKK?PA@PELF?PEN>?@P2DOIIMPFOIPELJND=OPJLJPME: 2DNHOJKOPFNPEDNPMIPGOELJFLPELBBMPFOIIMPBO: FOGNBMPFNGCLGN<NLJOPJLHBMKN>M @PI;OGCHOGGM FNE6NMHM<NLJOPFNPM>OHPCHOGLP>NGNLJOPFOIIMPCO: HN<NMPFNPGKNBMPOFPOGGOHOPELHHOFMKMPFMPELCNMPFN >MINFLPFLEDBOJKLPFNPNFOJKNK8PFOII;LAAOHOJKOPO@ GOP JOEOGGMHNL@P FMP >MINFMP FLEDBOJKM<NLJO ELBCHL>MJKOPNPCLKOHNPLPIMPIO=NKKNBM<NLJOPFOIIL GKOGGLP MFPOG?PCHLEDHMPGCOENMIOPLPEOHKNANEMKL EMBOHMIOPNJPEMGLPFNPGLENOK8 3 I;LAAOHKM@PJOIPEMGLPFNPCHOGOJKM<NLJOPFMPCMHKO FNP DJP BNJLHOJJO@P FL>H8P OGGOHOP GLKKLGEHNKKM FMNP=OJNKLHN@PCHO>NMPMDKLHN<<M<NLJOPFOIP=NDFNEO KDKOIMHO@PFMPMIIO=MHOPNJPELCNMPELJALHBO3 NJPEMGLPFNPFNE6NMHM<NLJOPCHOGOJKMKMPELJ=NDJ: KMBOJKOPFMPCN PGL==OKKN@PFO>OPOGGOHOPNJFNEMKL ELIDNPE6OPM99NMPI;OGEIDGN>MPAMELIK8PFNPALHBD: IMHOPO>OJKDMINPLAAOHKOPNJPMDBOJKL3 JLJPGMH8PCLGGN9NIOPKHMGAOHNHOPI;NBBL9NIOPMPGL=: =OKKLPFN>OHGLPFMP2DOIILPE6OPGLKKLGEHN>OPI;LA: AOHKM3 I;LAAOHKMP(PNHHO>LEM9NIO@PGMI>LPE6O!P4?PNIP=NDFNEO LHFNJNPI;NJEMJKL3P/?PGNMJLPFOELHGNPEOJKL>OJKN =NLHJNP FMIIMP GDMP CHOGOJKM<NLJOP OP IMP GKOGGM JLJPGNMPGKMKMPMEELIKM3 I LAAOHKMPJLJP(POAANEMEO!P4 PGOPCOH>NOJOPLIKHOPNI KOHBNJOPGKM9NINKL3P/ PGOP(PNJAOHNLHOPMIPCHO<<L
HRMRKEQNPMOSPSNOKEPSHRLL.PKMQIOLOS1 &SRSGQ JOGKPSKQIOKHPMO:SI%SJRSL.OBBRKRNMRSNONSGKRJMP IPFCQONRDSPSERCCOSHQSPJJRANOSIQKIOLPKRSNON MKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS;MPLQPNRSJGP DSQN EQJFKPSNONSQNBRKQOKRSPLSHRIQEOSHRLSGKRCCOSHP LFQSGKOGOJMO: PLL=OBBRKMPDS HPS HRGOJQMPKJQS QNS <FJMPS I8QFJPD JRNCPSJRANQSHQSKQIONOJIQERNMODSHR@RSRJJRKR PLLRAPMOSL=PJJRANOSIQKIOLPKRSGRKSLPSIPFCQONRD IOERSQNNPNCQSQNHQIPMO:SPLL.RJMRKNOSHRLLPS<FJMP @PNNOSPNNOMPMQDSPSIFKPSHRLSIPNIRLLQRKRSKQIR> @RNMRDSQLSNOERDSGKR@QPSQHRNMQBQIPCQONRDSHQSI8Q EPMRKQPLERNMRSGKO@@RHRSPLSHRGOJQMODSQLSNOER HRLS AQFHQIRS HRLL.RJRIFCQONRS RS LPS HPMPS HRL> L.FHQRNCPSBQJJPMPSGRKSL.RJPERSHRLLRSOBBRKMR:SLR <FJMRSJPKPNNOSPGRKMRSPLL.FHQRNCPSBQJJPMPSGRK L.RJPERSHRLLRSOBBRKMRDSPLLPSGKRJRNCPSHRALQSOB> BRKRNMQDSO@RSIOEGPKJQ:SNRLSIPJOSHQSEPNIPMP IOEGPKQCQONRSHRLL=OBBRKRNMRSOSHRALQSOBBRKRNMQ L=PAAQFHQIPCQONRS JPK9S IOEFN6FRS HQJGOJMPD BPMMPSJPL@PSL=PGGLQIPCQONRSHRLLRSGKR@QJQONQSHQ IFQSPLL=PKM?S1)/DSIOEEQS/SRS'DSI?G?I?:SQNSIPJOSHQ GQ SOBBRKMRS@PLQHRDSJQSGKOIRHRK9SPSAPKPSJFLL=OB> BRKMPSGQ SPLMPSJRIONHOSQLSJQJMREPSHRLLRSJI8RHR OS <FJMRS JRAKRMRDS BPMMPS JPL@PS L=PGGLQIPCQONR HRLL=PKM?S1)'DSIOEEPS/DSI?G?I?:SSSSS QNS PLMRKNPMQ@PS PLLRS EOHPLQM9S HQS IFQS JOGKPDS LP GKRJRNMPCQONRSHRLLRSOBBRKMRSHQSPI6FQJMOSGF P@@RNQKRS PNI8RS ERHQPNMRS L=PIIKRHQMODS P ERCCOSHQS<ONQBQIOSOSHRGOJQMOSJFSIONMOSGOJMPLR OS<PNIPKQOSQNMRJMPMOSPLLPSGKOIRHFKPSRJRIFMQ@P RHS PIIRJOS OS HPS PIIRNHRKJQDS NRLS JRIONHO IPJODSGKRJJOSQLS ONMRSHRQS PJI8QSHQS(QRNP (?G?7? S S BQLQPLRS HQS -PERCQPS ,RKERDS HQS FNP JOEEPSGPKQSPHSFNSHRIQEOSHRLSGKRCCOSI8RSJQ QNMRNHRSOBBKQKRSRSERHQPNMRSLPSIOEFNQIPCQONRD PSERCCOSMRLRBP SOSGOJMPSRLRMMKONQIPDSNRLSKQ> JGRMMOSHRLLPSNOKEPMQ@PDSPNI8RSKRAOLPERNMPKRD IONIRKNRNMRS LPS JOMMOJIKQCQONRDS LPS MKPJEQJ> JQONRSRSLPSKQIRCQONRSHRQSHOIFERNMQSQNBOKEPMQIQ RSMRLRMKPJERJJQDSHQSFNPSHQI8QPKPCQONRSIONMR> NRNMRSLRSQNHQIPCQONQSHQSIFQSPLLOSJMRJJOSPKM?S1)4 I?G?I?:SHRMMOSPIIKRHQMOSHR@RSP@RKRSLFOAOSNON OLMKRSIQN6FRSAQOKNQSGKQEPSHRLLPSJIPHRNCPSHRL MRKEQNRSRNMKOSQLS6FPLRSGOJJONOSRJJRKRSGKOGO> JMRSLRSOBBRKMRSH.PI6FQJMO:SBQNSH=OKPSJQSGKR@RHR I8RDS6FPNHOSL.OBBRKMPS*SGKRJRNMPMPSIONSLRSEO> HPLQM9SPLMRKNPMQ@RDSQLSMRKEQNRSGRKSQLS@RKJPERNMO HRLSGKRCCOSRSHQSOANQSPLMKPSJOEEPS*SHQSNO@PNMP AQOKNQ: QNSOANQSIPJODSLRSJGRJRSHRLSMKPJBRKQERNMOSIR> HONOSPSIPKQIOSHRLL=PAAQFHQIPMPKQODSIFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM9SRHSQSIOJMQSGRKSLPSKRAQJMKP> CQONRSRSMKPJIKQCQONRSHRLSHRIKRMOSNONI8 SGRK LPSIPNIRLLPCQONRSHRLLRSBOKEPLQM9SGKRAQFHQCQR> @OLQSAKP@PNMQSJFALQSQEEO<QLQSPI6FQJMPMQ: *SGOJJQ<QLRDSGRKSQSGPKMRIQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSIONHQCQONQSRIONOEQI8R GKRJMP<QLQMQSHPSOANQSJQNAOLPS<PNIPSPHRKRNMR GKOMOIOLLOS 7 ; SGRKSLPSIONIRJJQONRSHQSEFMFQ PALQSPAAQFHQIPMPKQ:SL=RLRNIOSHRLLRS<PNI8RSPHR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS,KQ<FNPLRSHQS-PERCQP ,RKERS*SKRGRKQ<QLRSGKRJJOSLPS0PNIRLLRKQP:S 6FPNMOSPLL=R@RNMFPLRDSJFIIRJJQ@PS@RNHQMPSPALQ QNIPNMQ RJJPSHR@RSP@RKSLFOAOSPLSGKRCCOS<PJRSHQSRFKO 4+?1" D !: LRSOBBRKMRSQNSPFERNMODSPSGRNPSHQSQNPEEQJJQ<Q> LQM9DS NONS HR@ONOS RJJRKRS QNBRKQOKQS PS RFKO 4?/++D++:S OANFNODS PQS JRNJQS HRLL=PKM?S 1)!DS IOEEPS 4D I?G?I?DSMKPNNRSQLSHR<QMOKRDS*SPEERJJOSPSBOKEF> LPKRS OBBRKMRS PLL=QNIPNMOS GRKJONPLERNMRDS P ERCCOSHQSEPNHPMPKQOSEFNQMOSHQSGKOIFKPSJGR> IQPLRSOSHQSGKOIFKPMOKRSLRAPLRDSPNI8RSPSNOKEP HRLL=PKM?S1)!DSIOEEPS'DSI?G?I?S QLSGKOIFKPMOKR LRAPLRSHO@K9DSQNSOANQSIPJODSRJJRKRSEFNQMOSHQ EPNHPMOSJGRIQPLRSKQJFLMPNMRSHPSPMMOSGF<<LQIO OSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPDSNONSRJJRNHO JFBBQIQRNMRS L=OKHQNPKQOS EPNHPMOS PLLRS LQMQ:S NRL> L=QGOMRJQSHQSIFQSPLSIQMPMOSPKM?S1)!DSIOEEPS'DSQL EPNHPMOSJGRIQPLRSKQJFLMPNMRSHPSPMMOSGF<<LQIO OSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPSHO@K9SRJJRKR HRGOJQMPMOS IONMRJMFPLERNMRS PLLPS HQI8QPKP> CQONRSHRLSNOEQNPMQ@OSHRLLPSGRKJONPDSHPSRBBRM> MFPKJQSNRLSMRKEQNRSHQSIFQSPLL=PKM?S1&'DSIOEEP 4DSI?G?I?% OANQSIONIOKKRNMRDSGRKSRJJRKRSPEERJJOSPLL=QN> IPNMODSHR@RSGKRJRNMPKRSQJMPNCPSHQSGPKMRIQGP> CQONRDSQNSKRAOLPSIONSQLS<OLLODSKRIPNMRDSPSGRNP HQS QNRBBQIPIQPDS L.QNHQIPCQONRS HRLS NFERKOS HQ K?A?R?S HRLLPS GKOIRHFKPDS QLS <RNRS OS QLS LOMMOS IFQ L=QJMPNCPSJMRJJPS*SKQBRKQMPDSQLSGKRCCOSGKOGOJMOD LRSGKOGKQRSARNRKPLQM9S NOERDSIOANOERDSLFOAO RS HPMPS HQS NPJIQMPDS IOHQIRS BQJIPLRD KRJQHRNCP HOEQIQLQODSJMPMOSIQ@QLRSRDSJRSIONQF> APMODSKRAQERSGPMKQEONQPLRSBKPSQSIONQFAQ: QNSIPJOSHQSIOEFNQONRSLRAPLRSHRQS<RNQDSOIIOK> KRK9SQNHQIPKRSPNI8RSLRSARNRKPLQM9SHRLSIONQFAR NONSOBBRKRNMRDSPLSBQNRSHQSGOMRKSMKPJBRKQKRSPHSRN> MKPE<QDSGKOS6FOMPDSQLS<RNRDSQNSIPJOSHQSPAAQFHQ> IPCQONR:S NRLL=QGOMRJQS HQS PI6FQJMOS PS MQMOLO GRKJONPLRSHPSGPKMRSHQSFNSIONQFARSQNSKRAQER HQS IOEFNQONRS HRQS <RNQDS OIIOKKRS GKOHFKKRD OLMKRSPLLPSHQI8QPKPCQONRSHQS6FRJM=FLMQEODSR SPKM? 4)!DSIOEEPS4DSLRMM?SBDSIOH?SIQ@?DS6FRLLPSHRLSIO> NQFARS NONS PI6FQKRNMRS HQS IFQS PLS JRIONHO
IOEEPSHRLLPSERHRJQEPSHQJGOJQCQONRSNOKEP> MQ@P%DSL=RJGKRJJPSHQI8QPKPCQONRSHQSP@RKSGKRJO @QJQONRSHRLLPSGRKQCQPSHQSJMQEP: L=QJMPNCPDSNRLSIPJOSHQSGKRJRNMPCQONRSHPSGPKMR HQS FNS EQNOKRNNRDS HO@K9S RJJRKRS JOMMOJIKQMMP HPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSHRLSAQFHQIR MFMRLPKRDSHPSHRGOJQMPKRSQNSIOGQPSIONBOKER: QNSIPJOSHQSQJMPNCPSGKRJRNMPMPSIONAQFNMPERNMR HPSGQ SJOAARMMQDSHR@RSRJJRKRSQNHQIPMOSIOLFQ I8RS P<<QPS L=RJILFJQ@PS BPIOLM9S HQS BOKEFLPKR R@RNMFPLQSOBBRKMRSQNSPFERNMO: NONSJPK9SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOS HQ@RKJOS HPS 6FRLLOS I8RS JOMMOJIKQ@R L=QJMPNCP: PLL=QJMPNCPSHQSGPKMRIQGPCQONRSHR@RSRJJRKRSPL> LRAPMPSIOGQPSHQS@PLQHOSHOIFERNMOSHQSQHRNMQM9 HRLSIONIOKKRNMRSRDSJRSNRIRJJPKQODS@PLQHPSHO> IFERNMPCQONRSIOEGKO@PNMRSQSGOMRKQSOSLPSLRAQM> MQEPCQONRS HRLLOS JMRJJOS PHS RJ?S GKOIFKP JGRIQPLRSOSIRKMQBQIPMOSIPERKPLRSQNSIPJOSHQSJO> IQRM9%: IONSL=QJMPNCPSHQSGPKMRIQGPCQONRDSHPSGKRJRN> MPKJQSQNS<FJMPSI8QFJPDSJRNCPSJRANQSHQSKQIONO> JIQERNMODSHR@RSRJJRKRSHRGOJQMPMOSPJJRANO IQKIOLPKRSNONSMKPJBRKQ<QLRDSQNMRJMPMOSPLLRS OJMR ;MPLQPNRSJ?G?P? DSMKPEQMRSIFQSRBBRMMFPKRSQLS@RKJP> ERNMOSHRLLPSIPFCQONRS RHSQNSIONMOSGKRCCOSHQ PAAQFHQIPCQONR%DSQNSKPAQONRSHQSFNSHRIQEOSHRL GKRCCOS<PJRSH=PJMP: PLL.RJMRKNOSHRLLPS<FJMPS@PNNOSPNNOMPMQDSPSIFKP HRLS IPNIRLLQRKRS KQIR@RNMRDS QLS NOERDS GKR@QP QHRNMQBQIPCQONRDS HQS I8QS EPMRKQPLERNMRS GKO@> @RHRSPLSHRGOJQMODSQLSNOERSHRLSAQFHQIRSHRLL.RJR> IFCQONRSRSLPSHPMPSHRLL.FHQRNCPSBQJJPMPSGRKSLP @RNHQMPSPLL=QNIPNMO: LRS<FJMRSJPKPNNOSPGRKMRSPLL.FHQRNCPSJMP<QLQMP GRKSL=QNIPNMOSPLLPSGKRJRNCPSHRALQSQJMPNMQDSLPSIFQ IOEGPKQCQONRS*SNRIRJJPKQPSPQSBQNQSHRLL=PAAQF> HQIPCQONRDSI8RSJPK9SHQJGOJMPSJRIONHOSLRSGKR> JIKQCQONQS HRLL=PKM?S 1&4S I?G?I?:S LPS EPNIPMP GPKMRIQGPCQONRSPLL=QNIPNMODSGRKJONPLERNMRSO PSERCCOSHQSGKOIFKPMOKRSJGRIQPLRDSJRNCPSHO> IFERNMPMOSRSAQFJMQBQIPMOSEOMQ@ODSIOEGOKMRK9 L=QNIPERKPERNMOSHQS4 4+SHRLLPSIPFCQONRDSI8RD HQS IONMKODS JPK9S QEERHQPMPERNMRS KRJMQMFQMP HOGOSLPSI8QFJFKPSHRLL=QNIPNMODSO@RSL=OBBRKRNMRD KRAOLPKERNMRSGKRJRNMRDSNONSHQ@RNAPSPAAQF> HQIPMPKQO:SNRLSIPJOSHQSFNPSJOLPSQJMPNCPSHQSGPK> MRIQGPCQONRDSOIIOKKRK9SIOEFN6FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S1&4DSIOEEPS/DSGRK IONJRAFQKRSL=PAAQFHQIPCQONRSGKO@@QJOKQP: PSNOKEPSHRLL=PKM?S1&"SI?G?I?DSQNBPMMQDSP@@RNFMO L=QNIPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOBBRKMR HQSPI6FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSHQSHQRIQ AQOKNQSHPLLPSAPKPDSEPSRJJRSNONSJONOSRBBQIPIQ JRSQLSGKRCCOSOBBRKMOSNONSJFGRKPSHQS4 1S6FRLLO KPAAQFNMOSNRLL=QNIPNMO:SL=PAAQFHQIPCQONRDSGRK> MPNMODS HQ@RKK9S HRBQNQMQ@PS O@RDS HRIOKJQS HQRIQ AQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOBBRKMRSQN PFERNMO: MPLQSOBBRKMRSGOMKPNNOSRJJRKRSHRGOJQMPMRSGKRJJO LPS0PNIRLLRKQPDSNRLLRSBOKERSHQSIFQSPLL=PKM?S1)4 I?G?I?DSGKRJMPNHOSIPFCQONRSGRKSFNPSJOEEP GPKQSPLSHOGGQOSHRLLPSIPFCQONRS@RKJPMPSGRKSLP GPKMRIQGPCQONRSPLL=QNIPNMO?S;NSIPJOSHQSGKRJRN> MPCQONRSHQSMPLQSOBBRKMRDS@RKK9SQNHRMMPSFNPSAPKP JRIONHOSLRSGKR@QJQONQSHQSIFQSPLL=PKM?S1&"SI?G?I?? (RSNRJJFNOSHRALQSOBBRKRNMQSQNSPFERNMOSGPKMR> IQGPSPLLPSAPKPSQNHRMMPSPSNOKEPSHRLL=PKM?S1&"D IOEEPS'DSI?G?I?DSL=PAAQFHQIPCQONRSHQ@RNMPSHR> BQNQMQ@PSRS@RKK9SGKONFNIQPMPSPSIPKQIOSHRALQSOB> BRKRNMQS JPL@OSI8RSKQIOKKPSFNSHOIFERNMPMOSR AQFJMQBQIPMOSEOMQ@O%SLPSGRKHQMPSHRLLPSIPFCQONRD QLSIFQSQEGOKMOS*SMKPMMRNFMOSIOERSKQN@RNQRNMRSP MFMMQSALQSRBBRMMQSHPLL=RJRIFCQONR:S QNSOANQSIPJODSLRSJGRJRSHRLSMKPJBRKQERNMOSIP> HONOSPSIPKQIOSHRLL=PAAQFHQIPMPKQODSIFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM9SRHSQSIOJMQSGRKSLPSKRAQJMKP> CQONRSRSMKPJIKQCQONRSHRLSHRIKRMOSNONI8 SGRK LPSIPNIRLLPCQONRSHRLLRSBOKEPLQM9SGKRAQFHQCQR> @OLQSAKP@PNMQSJFALQSQEEO<QLQSPI6FQJMPMQ: *SGOJJQ<QLRDSGRKSQSGPKMRIQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSIONHQCQONQSRIONOEQI8R GKRJMP<QLQMQSHPSOANQSJQNAOLPS<PNIPSPHRKRNMR GKOMOIOLLOS 7 ; SGRKSLPSIONIRJJQONRSHQSEFMFQ PALQSPAAQFHQIPMPKQ:SL=RLRNIOSHRLLRS<PNI8RSPHR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS,KQ<FNPLRSHQS-PERCQP ,RKERS*SKRGRKQ<QLRSGKRJJOSLPS0PNIRLLRKQP:S ;5S 3-7 ;253S7--7S$35#;,7S (35 7S;5075,2 *SBQJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS0PN> IRLLRKQPSHRLLRS3JRIFCQONQS;EEO<QLQPKQSHRLLRSOB> BRKMRS HQS PI6FQJMODS R S PKM?S 1)4S I?G?I?DS HRL IOEGRNHQOSQEEO<QLQPKRSJOGKPSQNHQIPMOSRSER> ALQOSHRJIKQMMOSNRLLPSKRLPCQONRSHRLL=RJGRKMOSQN PMMQDSPLLPS6FPLRSJQSBPSRJGKRJJOSKQI8QPEODS6FPLR GPKMRSQNMRAKPNMRSRSJOJMPNCQPLRSHRLLPSGKRJRNMR OKHQNPNCPDS MRKEQNRS BQNOS PLLRS OKRS 4'?++S HRL AQOKNOS4/SAQFANOS/+4/DSIONSLRSEOHPLQM9SRSGRK QLSGKRCCOS<PJRSHQSIFQSJOGKP: *SBQJJPMPDSGRKSL=RJPERSHRLLRSOBBRKMRSHQSPI6FQ> JMODSPQSJRNJQSHRLL=PKM?S1)/SI?G?I?DSO@@RKOSGRKSLP APKPS JFLLRS ERHRJQERDS JRS GKRJRNMPMRS QNS EQ> JFKPSJFGRKQOKRSPHSFNPDSPQSJRNJQSHRLL=PKM?S1)' I?G?I?DS L=FHQRNCPS HRLS 3 &2%&+13 *3 1,/ $ 3/3#/&&$ 53-S07(2S;5S0 ;SS-7S$35#;,7S
(35 7S;5075,2S525S7 ;7S- 2 2D *SBQJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS0PN> IRLLRKQPS HRLLRS 3JRIFCQONQS ;EEO<QLQPKQS HRLLR QJMPNCRSHQSGPKMRIQGPCQONRSPLLPS@RNHQMPSPQSGF<> <LQIQSQNIPNMQSHRLSIOEGRNHQOSQEEO<QLQPKRSJOGKP QNHQIPMOS RS ERALQOS HRJIKQMMOS NRLLPS KRLPCQONR HRLL=RJGRKMOSQNSPMMQDSPLLPS6FPLRSJQSBPSRJGKRJJO KQI8QPEODS 6FPLRS GPKMRS QNMRAKPNMRS RS JOJMPN> CQPLRSHRLLPSGKRJRNMRSOKHQNPNCPDSMRKEQNRSBQNO PLLRSOKRS4'?++SHRLS/ SAQFANOS/+4/SDSIONSLR EOHPLQM9SRSGRKSQLSGKRCCOSEQNQEOSHQSIFQSJOGKP: *SBQJJPMPDSGRKSQLSAQOKNOSS 3&2%&+13 *31,/ $ RSJRAA?DSLPS@RNHQMPSPQSGF<<LQIQSQNIPNMQSHRL IOEGRNHQOSQEEO<QLQPKRSJOGKPSQNHQIPMODSIONSLR EOHPLQM9SRSGRKSQLSGKRCCOS<PJRSHQSIFQSQNNPNCQ: -7S$35#;,7S7$$;353S7--3S(3 35,; 025#; ;25;DS(;7S 7-2 7S$;S(;S 700;7 - 2 2S(35 7S;5075,2DS (;7S 7-2 7S$;S(;S 700;7S- 2 2 S025S;5075,2 ALQSQEEO<QLQS@RNAONOSGOJMQSQNS@RNHQMPSSNRLLO JMPMOSHQSBPMMOSRSHQSHQKQMMOSQNSIFQSJQSMKO@PNODSIOJ IOERS QHRNMQBQIPMQDS HRJIKQMMQS RS @PLFMPMQS HPL> L=RJGRKMOSNRLLPSKRLPCQONRDSIONSOANQSR@RNMFPLR JRK@QM SPMMQ@PSRSGPJJQ@PSQNRKRNMRSRS6FOMRSION> HOEQNQPLQSKRLPMQ@R: LPS@RNHQMPS*SPSIOKGOSRSNONSPSEQJFKP:SR@RNMFPLQ HQBBRKRNCRSHQSEQJFKPSNONSGOMKPNNOSHPKSLFOAO PHSPLIFNSKQJPKIQERNMODSQNHRNNQM9SOSKQHFCQONR HRLSGKRCCO:SLPS@RNHQMPSBOKCPMPSNONS*SJOAARMMP PLLRSNOKERSIONIRKNRNMQSLPSAPKPNCQPSGRKS@QCQSO EPNIPNCPSHQS6FPLQM9DSN SGOMK9SRJJRKRSKR@O> IPMPSGRKSPLIFNSEOMQ@O?S0ONJRAFRNMRERNMR L=RJQJMRNCPS HQS R@RNMFPLQS @QCQDS EPNIPNCPS HQ 6FPLQM9SOSHQBBOKEQM9SHRLLPSIOJPS@RNHFMPDSONRKQ HQS6FPLJQPJQSARNRKRS>SQ@QSIOEGKRJQDSPHSRJRE> GQODS6FRLLQSFK<PNQJMQIQSO@@RKOSHRKQ@PNMQSHPLLP R@RNMFPLRSNRIRJJQM9SHQSPHRAFPERNMOSHQSQE> GQPNMQSPLLRSLRAAQS@QARNMQDSJGRJRSIONHOEQNQPLQ HRLL=PNNOS QNS IOKJOS RS HRLL=PNNOS GKRIRHRNMR NONSGPAPMRSHPLSHR<QMOKRS>SGRKS6FPLJQPJQSEO> MQ@OSNONSIONJQHRKPMQDSPNI8RSJRSOIIFLMQSRSIO> EFN6FRSQNSGRKQCQPDSNONSSGOMKPNNOSHPKSLFOAO PHSPLIFNSKQJPKIQERNMODSQNHRNNQM9SOSKQHFCQONR HRLS GKRCCODS RJJRNHOJQS HQS IQ S MRNFMOS IONMO NRLLPS@PLFMPCQONRSHRQS<RNQ: L=PAAQFHQIPMPKQOSHO@K9S@RKJPKRSLPSHQBBRKRNCP HRLSGKRCCOS HRMKPMMPSHPLSGKRCCOSHQSPAAQFHQIP> CQONRSLPSIPFCQONRSHQSIFQSJOGKP%SRNMKOSFNSMRK> EQNRSEPJJQEOSHQSJRJJPNMPSAQOKNQSHPLLPSHPMP HQSPAAQFHQIPCQONRSERHQPNMRSPJJRANOSIQKIO> LPKRSNONSMKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS;MPLQPNR J?G?P? S 6FPLOKPSQLSGKOIRHQERNMOSJQSBONHQSJF IKRHQMOS BONHQPKQOS RS L=PAAQFHQIPMPKQOS NONS QN> MRNHPSP@@PLRKJQSHRLLPSBPIOLM9SHQSJF<RNMKPKRSNRL IONMKPMMODS PLL=PJJRANOS IQKIOLPKRS JPK9S JOJMQ> MFQMODSR SPKM?S"4DSIOEEPS"DS#?-AJ?S4SJRMMRE> <KRS 4!!'DS N?S '&1DS QLS GPAPERNMOS HQKRMMOS PLLP <PNIPSIKRHQMKQIRDSNRQSLQEQMQSHRLSIKRHQMOSPCQONPMO GRKSIPGQMPLRDSQNMRKRJJQSRSJGRJRSIONSIOLLOIP> CQONRSGKQ@QLRAQPMPDSRNMKOSLOSJMRJJOSMRKEQNRSR HRMKPMMOSFNSPIIPNMONPERNMOSGRKSJGRJRSNRLLP EQJFKPSI8RSJPK9SQNHQIPMPSHPLSA?R?%:SQNSEPN> IPNCPDS JQS GKO@@RHRK9S PS HQI8QPKPKRS LPS HRIP> HRNCPSHPLL=PAAQFHQIPCQONRDSPSNOKEPSHRLL=PKM? 1&)SI?G?I?: JOLMPNMOS PLL=RJQMOS HRALQS PHREGQERNMQS GKRIR> HRNMQDSHRLLPSGKOHFCQONRSHQSPAAQOKNPMQSIRKMQBQIPMQ IPMPJMPLQSRSHQSPAAQOKNPMQSIRKMQBQIPMQSKRLPMQ@QSPLLR QJIKQCQONQS RS MKPJIKQCQONQS RBBRMMFPMRS JFLS <RNR NONI8 SHRLSGPAPERNMOSHRLLRSJGRJRSHQSMKPJBR> KQERNMODS HPS RBBRMMFPKJQS IONMRJMFPLERNMRS P 6FRLLOSHRLLPSHQBBRKRNCPSHRLSGKRCCOSHQSPAAQFHQ> IPCQONRDS NRLLPS EQJFKPS HRLS /+ S HQS 6FRJM=FL> MQEODSJPK9SRERJJOSQLSHRIKRMOSHQSMKPJBRKQERNMOD PQSJRNJQSHRLL=PKM?S1& SI?G?I?: -PERCQPS,RKERDS41SBR<<KPQOS/+4/ ;LS0PNIRLLQRKR ;0;2S3(30 ;25;S; 2 ;-;7 ; 7$$;(2S#;S$35#;,7S#;S 35; ; 2 ;-;S ; 52 7,;S 3 S7 ,S1 !S02 7S'S0 0 (;S 35#3S52,2S 08RSQLS QFHQIRSHRLL=3JRIFCQONRDS NRLLP (,1)/"%,03/#/)%-2 032''1!2.20,/ + $ * IONS OKHQNPNCPS RERJJPS PLL=FHQRNCPS HRL +"?+"?/+4/S8PSHQJGOJMOSLPS@RNHQMPSJRNCPSQN> IPNMOSHQSGQ SLOMMQSNRLLOSJMPMOSHQSBPMMOSRSHQSHQKQMMO QNSIFQSJQSMKO@PNOSGRKSQLS/+?+ ?/+4/SRHS8PSBQJ> JPMOS GRKS QLS IPJOS QNS IFQS LPS JMRJJPS NONS P<<QP LFOAOS LPS @RNHQMPS IONS QNIPNMOS HRQS ERHRJQEQ LOMMQSNRLLOSJMPMOSHQSBPMMOSRSHQSHQKQMMOSQNSIFQSJQSMKO> @PNOSGRKSL=FHQRNCPSHRLS+"?+)?/+4/: >S 0((0,-0'/+-13#2-132+3 20+1(1.2* 0..03 203 1&.20--2*3)1'(1#-13"23 3 0+2*3)% )2+03 0!2-0!2./*3 !0&+13 /3 "1((213 #/, 2 21* (/,3 %+03 #%(/, 2)2/3 )1''/,)20./3 "23 ' $ * $3. 2''1!2./3 3,2(1,-0-13+/.3 3"2 "/--13 )1'%+/3 0.3 1&.213 *3 ($..03 *3 #%!
/%,13 $ * S .1)0./30"2!2-1303&0,0&/ )0+-2+0 )1+3,2(1#-2&.213/3 )*3#2-132+3 20+1(1.2*30..0
203 1&.20--2*3(20+13#/'2+-/,,0-1*3"/..03#% (/, 2)2/3)1''/,)20./3"23' $3 $3. 2''1!2./ 3,2(1,-0-13+/.3 3"23"/--13)1'%+/30. 1&.213 *3($..03 *3#%!3
/%,13 $ * (;S 35#3S7502 7S52,2S0 3S;-S 3S 7 (,7 ;-;,2S0 3S-7S$35#;,7S7$$;353S 7--3S(3 35,;S025#; ;25; $35#;,7S(35 7S;5075,2
FPNMOSPLLPS@RNHQMPSJRNCPSQNIPNMODSHPSRBBRM> MFPKJQSPLSGKRCCOS<PJRSHQSRFKOSRFKOS"+?&4 D"4 GRKSQLSLOMMOSN?S4SRSHQSRFKOS4"?/'&D/&SGRKSQLSLOMMO N?S/:S IQPJIFNS OBBRKRNMRDS PQS JRNJQS HRLL=PKM?S 1)4D IOEEPS 4DS I?G?I?DS MKPNNRS QLS HR<QMOKRDS *S PE> ERJJOSPSBOKEFLPKRSOBBRKMRSGRKSL=PI6FQJMOSGRK> JONPLERNMRSOSPSERCCOSHQSGKOIFKPMOKRSLRAPLRD PNI8RSPSNOKEPSHRLL=PKM?S1)!DSIOEEPS'DSI?G?I? QLSGKOIFKPMOKRSLRAPLRSHO@K9DSQNSOANQSIPJODSRJ> JRKRSEFNQMOSHQSEPNHPMOSJGRIQPLRSKQJFLMPNMRSHP PMMOSGF<<LQIOSOSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMPD NONSRJJRNHOSJFBBQIQRNMRSL=OKHQNPKQOSEPNHPMO PLLRS LQMQ:S NRLL=QGOMRJQS HQS IFQS PLS IQMPMOS PKM?S 1)!D IOEEPS'DSQLSEPNHPMOSJGRIQPLRSKQJFLMPNMRSHP PMMOSGF<<LQIOSOSJIKQMMFKPSGKQ@PMPSPFMRNMQIPMP HO@K9S RJJRKRS HRGOJQMPMOS IONMRJMFPLERNMR PLLPSHQI8QPKPCQONRSHRLSNOEQNPMQ@OSHRLLPSGRK> JONPDSHPSRBBRMMFPKJQSNRLSMRKEQNRSHQSIFQSPLL=PKM? 1&'DSIOEEPS4DSI?G?I?%DSGKRJRNMPNHOSGKRJJO LPS0PNIRLLRKQPSHRLLRS3JRIFCQONQS;EEO<QLQPKQD HQI8QPKPCQONRDSQNSKRAOLPSIONSQLS<OLLODSIONMR> NRNMRDSPSGRNPSHQSQNRBBQIPIQPDSL.QNHQIPCQONRSHRL NFERKOSHQSK?A?R?SHRLLPSGKOIRHFKPDSHRLS<RNRS R HRLSLOMMO%SIFQSL=OBBRKMPSJQSKQBRKQJIRDSHRLSGKRCCOD HRLSMREGODSHRLSEOHOSHRLSGPAPERNMOSRSHQSOANQ PLMKOSRLRERNMOSFMQLRSPLLPS@PLFMPCQONRSHRLL.OB> BRKMP: HRMMPS HQI8QPKPCQONRS HR@RDS PLMKRJ DS KRIPKRS LR ARNRKPLQM9S HRLL=OBBRKRNMRS NOERDS IOANOERD LFOAOSRSHPMPSHQSNPJIQMPDSIOHQIRSBQJIPLRDSKRJQ> HRNCP HOEQIQLQODSJMPMOSIQ@QLRSRDSJRSIONQFAPMOD KRAQERSGPMKQEONQPLRSBKPSQSIONQFAQ:SQNSIPJOSHQ IOEFNQONRS LRAPLRS HRQS <RNQDS OIIOKKRK9S QNHQ> IPKRSPNI8RSLRSARNRKPLQM9SHRLSIONQFARSNONSOB> BRKRNMRDSPLSBQNRSHQSGOMRKSMKPJBRKQKRSPHSRNMKPE<QD GKOS6FOMPDSQLS<RNRDSQNSIPJOSHQSPAAQFHQIPCQONR: NRLL=QGOMRJQSHQSPI6FQJMOSPSMQMOLOSGRKJONPLRSHP GPKMRSHQSFNSIONQFARSQNSKRAQERSHQSIOEFNQONR HRQS<RNQDSOIIOKKRSGKOHFKKRDSOLMKRSPLLPSHQI8QP> KPCQONRSHQS6FRJM=FLMQEODSR SPKM?S4)!DSIOEEP 4DSLRMM?SBDSIOH?SIQ@?DS6FRLLPSHRLSIONQFARSNONSPI> 6FQKRNMRSHQSIFQSPLSJRIONHOSIOEEPSHRLLPSER> HRJQEPSHQJGOJQCQONRSNOKEPMQ@P%DSL=RJGKRJJP HQI8QPKPCQONRSHQSP@RKSGKRJOS@QJQONRSHRLLPSGR> KQCQPSHQSJMQEPSRHSRJJRKRSIOKKRHPMPSHPSIOGQPSHQ @PLQHOSHOIFERNMOSHQSQHRNMQM9SHRLL=OBBRKRNMRSRD JRS NRIRJJPKQODS HPS @PLQHPS HOIFERNMPCQONR IOEGKO@PNMRSQSGOMRKQSOSLPSLRAQMMQEPCQONRSHRLLO JMRJJOS PHSRJ?SGKOIFKPSJGRIQPLRSOSIRKMQBQIPMO IPERKPLRSQNSIPJOSHQSJOIQRM9%: L=OBBRKMPDSNRLSIPJOSHQSGKRJRNMPCQONRSHPSGPKMR HQS FNS EQNOKRNNRDS HO@K9S RJJRKRS JOMMOJIKQMMP HPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSHRLSAQFHQIR MFMRLPKRDSHPSPLLRAPKRSQNSIOGQPSIONBOKER: QNSIPJOSHQSHQI8QPKPCQONRSGKRJRNMPMPSIONAQFN> MPERNMRSHPSGQ SJOAARMMQDSHR@RSRJJRKRSQNHQIPMO IOLFQSI8RSP<<QPSL=RJILFJQ@PSBPIOLM9SHQSBOKEF> LPKRSR@RNMFPLQSOBBRKMRSQNSPFERNMO: NONSJPK9SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOSHQ@RKJOSHPS6FRLLOSI8RSJOMMOJIKQ@RSL=OB> BRKMP: L=OBBRKMPS*SQKKR@OIP<QLRDSJPL@OSI8R S4?SQLSAQFHQIR OKHQNQSL=QNIPNMO:S/?SJQPNOSHRIOKJQSIRNMO@RNMQ AQOKNQS HPLLPS JFPS GKRJRNMPCQONRS RS LPS JMRJJP NONSJQPSJMPMPSPIIOLMP: L.OBBRKMPSNONS*SRBBQIPIR S4%SJRSGRK@QRNRSOLMKRSQL MRKEQNRSJMP<QLQMO:S/%SJRS*SQNBRKQOKRSPLSGKRCCO HRMRKEQNPMOSPSNOKEPSHRLL.PKMQIOLOS1 &SRSGQ JOGKPSKQIOKHPMO:SI%SJRSL.OBBRKRNMRSNONSGKRJMP IPFCQONRDSPSERCCOSHQSPJJRANOSIQKIOLPKRSNON MKPJBRKQ<QLRSQNMRJMPMOSPS OJMRS;MPLQPNRSJGP DSQN EQJFKPSNONSQNBRKQOKRSPLSHRIQEOSHRLSGKRCCOSHP LFQSGKOGOJMO: PLL=OBBRKMPDS HPS HRGOJQMPKJQS QNS <FJMPS I8QFJPD JRNCPSJRANQSHQSKQIONOJIQERNMODSHR@RSRJJRKR PLLRAPMOSL=PJJRANOSIQKIOLPKRSGRKSLPSIPFCQONRD IOERSQNNPNCQSQNHQIPMO:SPLL.RJMRKNOSHRLLPS<FJMP @PNNOSPNNOMPMQDSPSIFKPSHRLSIPNIRLLQRKRSKQIR> @RNMRDSQLSNOERDSGKR@QPSQHRNMQBQIPCQONRDSHQSI8Q EPMRKQPLERNMRSGKO@@RHRSPLSHRGOJQMODSQLSNOER HRLS AQFHQIRS HRLL.RJRIFCQONRS RS LPS HPMPS HRL> L.FHQRNCPSBQJJPMPSGRKSL.RJPERSHRLLRSOBBRKMR:SLR <FJMRSJPKPNNOSPGRKMRSPLL.FHQRNCPSBQJJPMPSGRK L.RJPERSHRLLRSOBBRKMRDSPLLPSGKRJRNCPSHRALQSOB> BRKRNMQDSO@RSIOEGPKJQ:SNRLSIPJOSHQSEPNIPMP IOEGPKQCQONRSHRLL=OBBRKRNMRSOSHRALQSOBBRKRNMQ L=PAAQFHQIPCQONRS JPK9S IOEFN6FRS HQJGOJMPD BPMMPSJPL@PSL=PGGLQIPCQONRSHRLLRSGKR@QJQONQSHQ IFQSPLL=PKM?S1)/DSIOEEQS/SRS'DSI?G?I?:SQNSIPJOSHQ GQ SOBBRKMRS@PLQHRDSJQSGKOIRHRK9SPSAPKPSJFLL=OB> BRKMPSGQ SPLMPSJRIONHOSQLSJQJMREPSHRLLRSJI8RHR OS <FJMRS JRAKRMRDS BPMMPS JPL@PS L=PGGLQIPCQONR HRLL=PKM?S1)'DSIOEEPS/DSI?G?I?:SSSSS QNS PLMRKNPMQ@PS PLLRS EOHPLQM9S HQS IFQS JOGKPDS LP GKRJRNMPCQONRSHRLLRSOBBRKMRSHQSPI6FQJMOSGF P@@RNQKRS PNI8RS ERHQPNMRS L=PIIKRHQMODS P ERCCOSHQS<ONQBQIOSOSHRGOJQMOSJFSIONMOSGOJMPLR
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
PLLRSNOKERSIONIRKNRNMQSLPSBPKPNCQPSGRKS@QCQSO EPNIPNCPSHQS3FPLQM8DSN SGOMK8SRJJRKRSKR@O> IPMPSGRKSPLIFNSEOMQ@O?S2ONJRBFRNMRERNMR L=RJQJMRNCPS HQS R@RNMFPLQS @QCQDS EPNIPNCPS HQ 3FPLQM8SOSHQAAOKEQM8SHRLLPSIOJPS@RNHFMPDSONRKQ HQS3FPLJQPJQSBRNRKRS>SQ@QSIOEGKRJQDSPHSRJRE> GQODS3FRLLQSFK<PNQJMQIQSO@@RKOSHRKQ@PNMQSHPLLP R@RNMFPLRSNRIRJJQM8SHQSPHRBFPERNMOSHQSQE> GQPNMQSPLLRSLRBBQS@QBRNMQDSJGRJRSIONHOEQNQPLQ HRLL=PNNOS QNS IOKJOS RS HRLL=PNNOS GKRIRHRNMR NONSGPBPMRSHPLSHR<QMOKRS>SGRKS3FPLJQPJQSEO> MQ@OSNONSIONJQHRKPMQDSPNI6RSJRSOIIFLMQSRSIO> EFN3FRS NONS R@QHRNCQPMQS QNS GRKQCQPDS NON GOMKPNNOSHPKSLFOBOSPHSPLIFNSKQJPKIQERNMODSQN> HRNNQM8SOSKQHFCQONRSHRLSGKRCCODSRJJRNHOJQSHQ IQ SMRNFMOSIONMOSNRLLPS@PLFMPCQONRSHRQS<RNQ9 L=PBBQFHQIPMPKQOSHO@K8S@RKJPKRSLPSHQAARKRNCP HRLSGKRCCOS HRMKPMMPSHPLSGKRCCOSHQSPBBQFHQIP> CQONRSLPSIPFCQONRSHQSIFQSJOGKP SRNMKOSFNSMRK> EQNRSEPJJQEOSHQSJRJJPNMPSBQOKNQSHPLLPSHPMP HQSPBBQFHQIPCQONRSERHQPNMRSPJJRBNOSIQKIO> LPKRSNONSMKPJARKQ<QLRSQNMRJMPMOSPS OJMRS;MPLQPNR J?G?P? S 3FPLOKPSQLSGKOIRHQERNMOSJQSAONHQSJF IKRHQMOS AONHQPKQOS RS L=PBBQFHQIPMPKQOS NONS QN> MRNHPSP@@PLRKJQSHRLLPSAPIOLM8SHQSJF<RNMKPKRSNRL IONMKPMMODS PLL=PJJRBNOS IQKIOLPKRS JPK8S JOJMQ> MFQMODSR SPKM?S 1DSIOEEPS DS$?0BJ?S1SJRMMRE> <KRS 1##)DS N?S )'-DS QLS GPBPERNMOS HQKRMMOS PLLP <PNIPSIKRHQMKQIRDSNRQSLQEQMQSHRLSIKRHQMOSPCQONPMO GRKSIPGQMPLRDSQNMRKRJJQSRSJGRJRSIONSIOLLOIP> CQONRSGKQ@QLRBQPMPDSRNMKOSLOSJMRJJOSMRKEQNRSR HRMKPMMOSFNSPIIPNMONPERNMOSGRKSJGRJRSNRLLP EQJFKPSI6RSJPK8SQNHQIPMPSHPLSB?R? 9SQNSEPN> IPNCPDS JQS GKO@@RHRK8S PS HQI6QPKPKRS LPS HRIP> HRNCPSHPLL=PBBQFHQIPCQONRDSPSNOKEPSHRLL=PKM? -'&SI?G?I?9 JOLMPNMOS PLL=RJQMOS HRBLQS PHREGQERNMQS GKRIR> HRNMQDSHRLLPSGKOHFCQONRSHQSPBBQOKNPMQSIRKMQAQIPMQ IPMPJMPLQSRSHQSPBBQOKNPMQSIRKMQAQIPMQSKRLPMQ@QSPLLR QJIKQCQONQS RS MKPJIKQCQONQS RAARMMFPMRS JFLS <RNR NONI6 SHRLSGPBPERNMOSHRLLRSJGRJRSHQSMKPJAR> KQERNMODS HPS RAARMMFPKJQS IONMRJMFPLERNMRS P 3FRLLOSHRLLPSHQAARKRNCPSHRLSGKRCCOSHQSPBBQFHQ> IPCQONRDS NRLLPS EQJFKPS HRLS ,. S HQS 3FRJM=FL> MQEODSJPK8SRERJJOSQLSHRIKRMOSHQSMKPJARKQERNMOD PQSJRNJQSHRLL=PKM?S-' SI?G?I?9 0PERCQPS/RKERDSL S1)SPGKQLRS,.1, 18 )/ 54/73548 5)+5 57354
% ;2;5S4+42% ;57;S; 5 ;0;: ; :((;+5S$;S(47$;/:S$;S 47; ; 5 ;0;S ;!75 :/; 4 S: /?S- #S25 :S)S2 2 +;S 47$4S75/5S2 4 26RSQLS!QFHQIRSHRLL=4JRIFCQONRDS NRLLP ,34.6+)3786(6.)25#785%%4"5157368/'!' ' &8 8 - - IONS OKHQNPNCPS RERJJPS PLL=FHQRNCPS HRL .'?.,?,.1,DS 6PS HQJGOJMOS LPS @RNHQMPS IONS QN> IPNMOSHRLSLOMMOSFNQIOSNRLLOSJMPMOSHQSAPMMOSRSHQ HQKQMMOS QNS IFQS JQS MKO@PS GRKS L=FHQRNCPS HRL ,.?. ?,.1,
>S 7,,6 7%6/248+5826336/4 (5248 5/8 432716*8 14.7152 8 623417278 6(26(6 7368!&*'$8722)71%6/268.4125#724878(6%5/7 25#486*85/8,5..4178,7326*87+8)15#624*86((4 .4%,36/+68 )/8 7""35.7248 3)37168 +58 0*$$ 7368718 )7168(587..6+68+71178(237+78,34#5/ .5716*851826336/48 835,43272485/8 8+618,36 +62248 .4%)/68 .6/()73548 718 4 1548 +5 %7,,78'!*8,7325.61178' 8 +587368!'*!0 8(6 %5/725#485335 )4863"43724*8 - -8 8 &- 00* - -8 8&0-$008518 7""35.72483)37168 8.6/(524 718 4 1548+58%7,,78'!*8,7325.61178' 08 8+5 73680*$$
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
IPNMODSHR@RSGKRJRNMPKRSQJMPNCPSHQSGPKMRIQGP> CQONRDSQNSKRBOLPSIONSQLS<OLLODSKRIPNMRDSPSGRNP HQS QNRAAQIPIQPDS L"QNHQIPCQONRS HRLS NFERKOS HQ K?B?R?S HRLLPS GKOIRHFKPDS QLS <RNRS OS QLS LOMMOS IFQ L=QJMPNCPSJMRJJPS*SKQARKQMPDSQLSGKRCCOSGKOGOJMOD LRSGKOGKQRSBRNRKPLQM8S NOERDSIOBNOERDSLFOBO RS HPMPS HQS NPJIQMPDS IOHQIRS AQJIPLRD KRJQHRNCP HOEQIQLQODSJMPMOSIQ@QLRSRDSJRSIONQF> BPMODS KRBQERS GPMKQEONQPLRS AKPS QS IONQFBQ9S QN IPJOSHQSIOEFNQONRSLRBPLRSHRQS<RNQDSOIIOKKRK8 QNHQIPKRSPNI6RSLRSBRNRKPLQM8SHRLSIONQFBRSNON OAARKRNMRDS PLS AQNRS HQS GOMRKS MKPJARKQKRS PHS RN> MKPE<QDSGKOS3FOMPDSQLS<RNRDSQNSIPJOSHQSPBBQFHQ> IPCQONR9S NRLL=QGOMRJQS HQS PI3FQJMOS PS MQMOLO GRKJONPLRSHPSGPKMRSHQSFNSIONQFBRSQNSKRBQER HQS IOEFNQONRS HRQS <RNQDS OIIOKKRS GKOHFKKRD OLMKRSPLLPSHQI6QPKPCQONRSHQS3FRJM=FLMQEODSR SPKM? 1&#DSIOEEPS1DSLRMM?SADSIOH?SIQ@?DS3FRLLPSHRLSIO> NQFBRS NONS PI3FQKRNMRS HQS IFQS PLS JRIONHO IOEEPSHRLLPSERHRJQEPSHQJGOJQCQONRSNOKEP> MQ@P DSL=RJGKRJJPSHQI6QPKPCQONRSHQSP@RKSGKRJO @QJQONRSHRLLPSGRKQCQPSHQSJMQEP9 L=QJMPNCPDSNRLSIPJOSHQSGKRJRNMPCQONRSHPSGPKMR HQS FNS EQNOKRNNRDS HO@K8S RJJRKRS JOMMOJIKQMMP HPQSBRNQMOKQDSGKR@QPSPFMOKQCCPCQONRSHRLSBQFHQIR MFMRLPKRDSHPSHRGOJQMPKRSQNSIOGQPSIONAOKER9 QNSIPJOSHQSQJMPNCPSGKRJRNMPMPSIONBQFNMPERNMR HPSGQ SJOBBRMMQDSHR@RSRJJRKRSQNHQIPMOSIOLFQ I6RS P<<QPS L=RJILFJQ@PS APIOLM8S HQS AOKEFLPKR R@RNMFPLQSOAARKMRSQNSPFERNMO9 NONSJPK8SGOJJQ<QLRSMKPJARKQKRSL=QEEO<QLRSPSJOB> BRMMOS HQ@RKJOS HPS 3FRLLOS I6RS JOMMOJIKQ@R L=QJMPNCP9 PLL=QJMPNCPSHQSGPKMRIQGPCQONRSHR@RSRJJRKRSPL> LRBPMPSIOGQPSHQS@PLQHOSHOIFERNMOSHQSQHRNMQM8 HRLSIONIOKKRNMRSRDSJRSNRIRJJPKQODS@PLQHPSHO> IFERNMPCQONRSIOEGKO@PNMRSQSGOMRKQSOSLPSLRBQM> MQEPCQONRS HRLLOS JMRJJOS PHS RJ?S GKOIFKP JGRIQPLRSOSIRKMQAQIPMOSIPERKPLRSQNSIPJOSHQSJO> IQRM8 9 IONSL=QJMPNCPSHQSGPKMRIQGPCQONRDSHPSGKRJRN> MPKJQSQNS<FJMPSI6QFJPDSJRNCPSJRBNQSHQSKQIONO> JIQERNMODSHR@RSRJJRKRSHRGOJQMPMOSPJJRBNO IQKIOLPKRSNONSMKPJARKQ<QLRDSQNMRJMPMOSPLLRS OJMR ;MPLQPNRSJ?G?P? DSMKPEQMRSIFQSRAARMMFPKRSQLS@RKJP> ERNMOSHRLLPSIPFCQONRS RHSQNSIONMOSGKRCCOSHQ PBBQFHQIPCQONR DSQNSKPBQONRSHQSFNSHRIQEOSHRL GKRCCOS<PJRSH=PJMP9 PLL"RJMRKNOSHRLLPS<FJMPS@PNNOSPNNOMPMQDSPSIFKP HRLS IPNIRLLQRKRS KQIR@RNMRDS QLS NOERDS GKR@QP QHRNMQAQIPCQONRDS HQS I6QS EPMRKQPLERNMRS GKO@> @RHRSPLSHRGOJQMODSQLSNOERSHRLSBQFHQIRSHRLL"RJR> IFCQONRSRSLPSHPMPSHRLL"FHQRNCPSAQJJPMPSGRKSLP @RNHQMPSPLL=QNIPNMO9 LRS<FJMRSJPKPNNOSPGRKMRSPLL"FHQRNCPSJMP<QLQMP GRKSL=QNIPNMOSPLLPSGKRJRNCPSHRBLQSQJMPNMQDSLPSIFQ IOEGPKQCQONRS*SNRIRJJPKQPSPQSAQNQSHRLL=PBBQF> HQIPCQONRDSI6RSJPK8SHQJGOJMPSJRIONHOSLRSGKR> JIKQCQONQSHRLL=PKM?S-'1SI?G?I?9SNRLSIPJOSHQSFNP JOLPSQJMPNCPSHQSGPKMRIQGPCQONRDSOIIOKKRK8SIO> EFN3FRSPGGOKMPKRSFNSKQPLCOSEQNQEODSR SPKM? -'1DSIOEEPS,DSGRKSIONJRBFQKRSL=PBBQFHQIP> CQONRSGKO@@QJOKQP9 PSNOKEPSHRLL=PKM?S-' SI?G?I?DSQNAPMMQDSP@@RNFMO L=QNIPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOAARKMR HQSPI3FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSHQSHQRIQ BQOKNQSHPLLPSBPKPDSEPSRJJRSNONSJONOSRAAQIPIQ JRSQLSGKRCCOSOAARKMOSNONSJFGRKPSHQS1 S3FRLLO KPBBQFNMOSNRLL=QNIPNMO9SL=PBBQFHQIPCQONRDSGRK> MPNMODS HQ@RKK8S HRAQNQMQ@PS O@RDS HRIOKJQS HQRIQ BQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOAARKMRSQN PFERNMO9 MPLQSOAARKMRSJQSAPNNOSPSNOKEPSHRLL=PKM?S-&1SRD GKQEPSHQSGKOIRHRKRSPLLPSBPKPSHQSIFQSPLL=PKM?S-&)D QLS2PNIRLLQRKRSHPSGF<<LQIOSP@@QJOSHRLL=OAARKMP GQ SPLMPSPSNOKEPSHRLL=PKM?S-&.SI?G?I?9S QNSOBNQSIPJODSLRSJGRJRSHRLSMKPJARKQERNMOSIP> HONOSPSIPKQIOSHRLL=PBBQFHQIPMPKQODSIFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM8SRHSQSIOJMQSGRKSLPSKRBQJMKP> CQONRSRSMKPJIKQCQONRSHRLSHRIKRMOSNONI6 SGRK LPSIPNIRLLPCQONRSHRLLRSAOKEPLQM8SGKRBQFHQCQR> @OLQSBKP@PNMQSJFBLQSQEEO<QLQSPI3FQJMPMQ9 *SGOJJQ<QLRDSGRKSQSGPKMRIQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSIONHQCQONQSRIONOEQI6R GKRJMP<QLQMQSHPSOBNQSJQNBOLPS<PNIPSPHRKRNMR GKOMOIOLLOS : ; SGRKSLPSIONIRJJQONRSHQSEFMFQ PBLQSPBBQFHQIPMPKQ9SL=RLRNIOSHRLLRS<PNI6RSPHR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS/KQ<FNPLRSHQS0PERCQP /RKERS*SKRGRKQ<QLRSGKRJJOSLPS2PNIRLLRKQP9S *SAQJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS2PN> IRLLRKQPS HRLLRS 4JRIFCQONQS ;EEO<QLQPKQS HRLLR QJMPNCRSHQSGPKMRIQGPCQONRSPLLPS@RNHQMPSPQSGF<> <LQIQSQNIPNMQSHRLSIOEGRNHQOSQEEO<QLQPKRSJOGKP QNHQIPMOS RS ERBLQOS HRJIKQMMOS NRLLPS KRLPCQONR HRLL=RJGRKMOSQNSPMMQDSPLLPS3FPLRSJQSAPSRJGKRJJO KQI6QPEODS 3FPLRS GPKMRS QNMRBKPNMRS RS JOJMPN> CQPLRSHRLLPSGKRJRNMRSOKHQNPNCPDSMRKEQNRSAQNO PLLRSOKRS1)?..SHRLS1#?. ?,.1,DSIONSLRSEOHP> LQM8SRSGRKSQLSGKRCCOSEQNQEOSHQSIFQSJOGKP9 *SAQJJPMPDSGRKSQLSBQOKNOS,.?. ?,.1,DSOKRS.#?). RS JRBB?DDS LPS @RNHQMPS PQS GF<<LQIQS QNIPNMQS HRL IOEGRNHQOSQEEO<QLQPKRSJOGKPSQNHQIPMODSIONSLR EOHPLQM8SRSGRKSQLSGKRCCOS<PJRSHQSIFQSQNNPNCQ9 0:S(47$;/:S:((;474S:004S+4!%47/;S 257$; ;57;DS+;:S %:05 :S(;S+;S :22;: 0%5!5S+47 :S;72:7/5DS+;:S %:05 :S (;S+;S :22;:S0%5!5S257S;72:7/5
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
PIRKRNMQSPLL=QNQCQPMQ@PSGRKSQLS,KQ<FNPLRSIQS-PER> CQPS,RKERS+SKRGRKQ<QLRSGKRJJOSLPS0PNHRLLRKQP9S 8FPNMOSPLL=R@RNMFPLRDSJFHHRJJQ@PS@RNIQMPSPBLQ QNHPNMQ RJJPSIR@RSP@RKSLFOBOSPLSGKRCCOS<PJRSIQSRFKO 411?111D11SGRKSQLSLOMMOSFNQHO9S LRSOAARKMRSQNSPFERNMODSPSGRNPSIQSQNPEEQJJQ<Q> LQM:DS NONS IR@ONOS RJJRKRS QNARKQOKQS PLS * S IRL GKRCCOSPS<PJRSI=PJMP9S OBNFNODS PQS JRNJQS IRLL=PKM?S /'"DS HOEEPS 4D H?G?H?DSMKPNNRSQLSIR<QMOKRDS+SPEERJJOSPSAOKEF> LPKRS OAARKMRS PLL=QNHPNMOS GRKJONPLERNMRDS P ERCCOSIQSEPNIPMPKQOSEFNQMOSIQSGKOHFKPSJGR> HQPLRSOSIQSGKOHFKPMOKRSLRBPLRDSPNH7RSPSNOKEP IRLL=PKM?S/'"DSHOEEPS*DSH?G?H?S#QLSGKOHFKPMOKR LRBPLRSIO@K:DSQNSOBNQSHPJODSRJJRKRSEFNQMOSIQ EPNIPMOSJGRHQPLRSKQJFLMPNMRSIPSPMMOSGF<<LQHO OSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPDSNONSRJJRNIO JFAAQHQRNMRS L=OKIQNPKQOS EPNIPMOS PLLRS LQMQ9S NRL> L=QGOMRJQSIQSHFQSPLSHQMPMOSPKM?S/'"DSHOEEPS*DSQL EPNIPMOSJGRHQPLRSKQJFLMPNMRSIPSPMMOSGF<<LQHO OSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPSIO@K:SRJJRKR IRGOJQMPMOS HONMRJMFPLERNMRS PLLPS IQH7QPKP> CQONRSIRLSNOEQNPMQ@OSIRLLPSGRKJONPDSIPSRAARM> MFPKJQSNRLSMRKEQNRSIQSHFQSPLL=PKM?S/!*DSHOEEP 4DSH?G?H?& OBNQSHONHOKKRNMRDSGRKSRJJRKRSPEERJJOSPLL=QN> HPNMODSIR@RSGKRJRNMPKRSQJMPNCPSIQSGPKMRHQGP> CQONRDSQNSKRBOLPSHONSQLS<OLLODSKRHPNMRDSPSGRNP IQS QNRAAQHPHQPDS L(QNIQHPCQONRS IRLS NFERKOS IQ K?B?R?S IRLLPS GKOHRIFKPDS QLS <RNRS OS QLS LOMMOS HFQ L=QJMPNCPSJMRJJPS+SKQARKQMPDSQLSGKRCCOSGKOGOJMOD LRSGKOGKQRSBRNRKPLQM:S#NOERDSHOBNOERDSLFOBO RS IPMPS IQS NPJHQMPDS HOIQHRS AQJHPLRD KRJQIRNCP IOEQHQLQODSJMPMOSHQ@QLRSRDSJRSHONQF> BPMODS KRBQERS GPMKQEONQPLRS AKPS QS HONQFBQ9S QN HPJOSIQSHOEFNQONRSLRBPLRSIRQS<RNQDSOHHOKKRK: QNIQHPKRSPNH7RSLRSBRNRKPLQM:SIRLSHONQFBRSNON OAARKRNMRDS PLS AQNRS IQS GOMRKS MKPJARKQKRS PIS RN> MKPE<QDSGKOS8FOMPDSQLS<RNRDSQNSHPJOSIQSPBBQFIQ> HPCQONR9S NRLL=QGOMRJQS IQS PH8FQJMOS PS MQMOLO GRKJONPLRSIPSGPKMRSIQSFNSHONQFBRSQNSKRBQER IQS HOEFNQONRS IRQS <RNQDS OHHOKKRS GKOIFKKRD OLMKRSPLLPSIQH7QPKPCQONRSIQS8FRJM=FLMQEODSR SPKM? 4'"DSHOEEPS4DSLRMM?SADSHOI?SHQ@?DS8FRLLPSIRLSHO> NQFBRS NONS PH8FQKRNMRS IQS HFQS PLS JRHONIO HOEEPSIRLLPSERIRJQEPSIQJGOJQCQONRSNOKEP> MQ@P&DSL=RJGKRJJPSIQH7QPKPCQONRSIQSP@RKSGKRJO @QJQONRSIRLLPSGRKQCQPSIQSJMQEP9 L=QJMPNCPDSNRLSHPJOSIQSGKRJRNMPCQONRSIPSGPKMR IQS FNS EQNOKRNNRDS IO@K:S RJJRKRS JOMMOJHKQMMP IPQSBRNQMOKQDSGKR@QPSPFMOKQCCPCQONRSIRLSBQFIQHR MFMRLPKRDSIPSIRGOJQMPKRSQNSHOGQPSHONAOKER9 QNSHPJOSIQSQJMPNCPSGKRJRNMPMPSHONBQFNMPERNMR IPSGQ SJOBBRMMQDSIR@RSRJJRKRSQNIQHPMOSHOLFQ H7RS P<<QPS L=RJHLFJQ@PS APHOLM:S IQS AOKEFLPKR R@RNMFPLQSOAARKMRSQNSPFERNMO9 NONSJPK:SGOJJQ<QLRSMKPJARKQKRSL=QEEO<QLRSPSJOB> BRMMOS IQ@RKJOS IPS 8FRLLOS H7RS JOMMOJHKQ@R L=QJMPNCP9 PLL=QJMPNCPSIQSGPKMRHQGPCQONRSIR@RSRJJRKRSPL> LRBPMPSHOGQPSIQS@PLQIOSIOHFERNMOSIQSQIRNMQM: IRLSHONHOKKRNMRSRDSJRSNRHRJJPKQODS@PLQIPSIO> HFERNMPCQONRSHOEGKO@PNMRSQSGOMRKQSOSLPSLRBQM> MQEPCQONRS IRLLOS JMRJJOS #PIS RJ?S GKOHFKP JGRHQPLRSOSHRKMQAQHPMOSHPERKPLRSQNSHPJOSIQSJO> HQRM:&9 HONSL=QJMPNCPSIQSGPKMRHQGPCQONRDSIPSGKRJRN> MPKJQSQNS<FJMPSH7QFJPDSJRNCPSJRBNQSIQSKQHONO> JHQERNMODSIR@RSRJJRKRSIRGOJQMPMOSPJJRBNO HQKHOLPKRSNONSMKPJARKQ<QLRDSQNMRJMPMOSPLLRS OJMR ;MPLQPNRSJ?G?P? DSMKPEQMRSHFQSRAARMMFPKRSQLS@RKJP> ERNMOSIRLLPSHPFCQONRS#RISQNSHONMOSGKRCCOSIQ PBBQFIQHPCQONR&DSQNSKPBQONRSIQSFNSIRHQEOSIRL GKRCCOS<PJRSI=PJMP9 PLL(RJMRKNOSIRLLPS<FJMPS@PNNOSPNNOMPMQDSPSHFKP IRLS HPNHRLLQRKRS KQHR@RNMRDS QLS NOERDS GKR@QP QIRNMQAQHPCQONRDS IQS H7QS EPMRKQPLERNMRS GKO@> @RIRSPLSIRGOJQMODSQLSNOERSIRLSBQFIQHRSIRLL(RJR> HFCQONRSRSLPSIPMPSIRLL(FIQRNCPSAQJJPMPSGRKSLP @RNIQMPSPLL=QNHPNMO9 LRS<FJMRSJPKPNNOSPGRKMRSPLL(FIQRNCPSJMP<QLQMP GRKSL=QNHPNMOSPLLPSGKRJRNCPSIRBLQSQJMPNMQDSLPSHFQ HOEGPKQCQONRS+SNRHRJJPKQPSPQSAQNQSIRLL=PBBQF> IQHPCQONRDSH7RSJPK:SIQJGOJMPSJRHONIOSLRSGKR> JHKQCQONQS IRLL=PKM?S /!4S H?G?H?9S LPS EPNHPMP GPKMRHQGPCQONRSPLL=QNHPNMODSGRKJONPLERNMRSO PSERCCOSIQSGKOHFKPMOKRSJGRHQPLRDSJRNCPSIO> HFERNMPMOSRSBQFJMQAQHPMOSEOMQ@ODSHOEGOKMRK: L=QNHPERKPERNMOSIQS4 41SIRLLPSHPFCQONRDSH7RD IQS HONMKODS JPK:S QEERIQPMPERNMRS KRJMQMFQMP IOGOSLPSH7QFJFKPSIRLL=QNHPNMODSO@RSL=OAARKRNMRD KRBOLPKERNMRSGKRJRNMRDSNONSIQ@RNBPSPBBQF> IQHPMPKQO9SNRLSHPJOSIQSFNPSJOLPSQJMPNCPSIQSGPK> MRHQGPCQONRDSOHHOKKRK:SHOEFN8FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S/!4DSHOEEPS.DSGRK HONJRBFQKRSL=PBBQFIQHPCQONRSGKO@@QJOKQP9 PSNOKEPSIRLL=PKM?S/! SH?G?H?DSQNAPMMQDSP@@RNFMO L=QNHPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOAARKMR IQSPH8FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSIQSIQRHQ BQOKNQSIPLLPSBPKPDSEPSRJJRSNONSJONOSRAAQHPHQ JRSQLSGKRCCOSOAARKMOSNONSJFGRKPSIQS4 /S8FRLLO KPBBQFNMOSNRLL=QNHPNMO9SL=PBBQFIQHPCQONRDSGRK> MPNMODS IQ@RKK:S IRAQNQMQ@PS O@RDS IRHOKJQS IQRHQ BQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOAARKMRSQN PFERNMO9 MPLQSOAARKMRSGOMKPNNOSRJJRKRSIRGOJQMPMRSGKRJJO
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
M E;;E@CE:FBCAG =DCAG E?G ;DEBA ;@D:AG<DG9BG1E22@D>ECAGEG>DB 9FG;DEBDG19A@D CF@@EGA?C@FG;A@7DABFG<DG9BG=ACCACFCCAGBAB E2DCE2D?FG1E>FBCFG;E@CFG<DG9BG>A:;?F==AG<D 2FBDGD::A2D?DE@DG=DCAGBF?G>A:9BFG<DG$E:F3 7DEG#F@:F8G1@E7DABFG @ABCDG8G@DABFG @EB<D3 BFCCD8GE>>F==D2D?FG<E??EG=C@E<EG;@A-DB>DE?F ;F@>A@@FB<AG 9BEG =C@E<EG ;@D-ECEG <DG E>3 >F==AG 8G >A:;@FB<FBCFG ;E@CD>F??FG <DG CF@3 @FBAG <DG -E@DEG E:;DF77EG =9G >9DG =ABAG =CED @FE?D77ECDG=C@E<FGE>>F==A8G>A@CD?DGFG;DE77E?D+ =9GCE?DG9?CD:D8GDB=D=CABAG?A>E?DGE<G9BG;DEBA 19A@DGCF@@E8GCFCCADFGFG2A GE9CA8G> FG>A=CDC9D3 =>ABAG <DG 1ECCA8G DBG ;E@CFG 8G ;F@CDBFB7FG <F? 1E22@D>ECAG ;@DB>D;E?FG <ACECAG <DG -EBA E=>FB=A@FGF=CF@BA6G$%E;;E@CE:FBCAG>AB3 1DBEGE<GF=CG>ABGE;;E@CE:FBCAGEG?D-F??AG8GDB CF=CEGE<GE?C@EG<DCEGFG-EBAG=>E?E+GEG=9<G>AB E11E>>DAG =9G =;E7DAG DB<D-D=AG <F=CDBECAG E -DE2D?DC"G>A:9BFG<DG>9DG=DG EGE>>F==AGE? 1E22@D>ECAG ;@DB>D;E?F6G $%E;;E@CE:FBCAG >A=CDC9DCAG 19B7DABE?:FBCFG <EG >9>DBE3 ;@EB7A3=A,,DA@BA8G@D;A=CD,?DA8G<9FG2E,BD FG<9FG>E:F@FG<EG?FCCA8G<9FG2E?>ABDG@D=;FC3 CD-E:FBCFG=9?G?ECAGBA@<G>ABGE>>F==AG * FG?%E?C@AG>ABGE>>F==AG<EG>E:F@EG<EG?FCCA6 $%E;;E@CE:FBCAG GDBG29ABAG=CECAG<DG>AB3 =F@-E7DABFG8G;E-D:FBCD8G=F@-D7DGD,DFBD>D8GDB3 1D==DGDBCF@BDGF<GF=CF@BDGF<GDBCABE>ECAG=ABA <DG 29ABEG 9E?DC"+G >ABG G D:;DEBCDG =DEG F?FC3 C@D>AG> FGD<@D>AG19B7DABEBCDGFG:9BDCAGDBA?3 C@FG <DG D:;DEBCAG <DG @D=>E?<E:FBCA E9CABA:A6G ?G ?ACCAG >A:;@FB<FG E;;E@CE3 :FBCAG>FB=DCAG>ECE=CE?:FBCFGBF?G 6 6 6 6 <F?G>A:9BFG<DG$E:F7DEG#F@:FGE?G A,?DAG55 *E@C6??FG /.G 92G!GFG9BEG 9ACEG<DG>A:;@A3 ;@DFC"G;E@DGE??EG:FCEG<DG5 /G<FDGCF@@FBDG>FB3 =DCDGBF?G 6 6#G<DG$E:F7DEG#F@:FGE?G A,?DA 55G*E@C6??FG /58G>AB=D=CFB7E+G0.G>FBCDE@F+ *E@C6??FG0/(8G>AB=D=CFB7EG5.GE@FG/G>FBCDE@F+ *E@C6??FG0&4G8>AB=D=CFB7E'5GE@FG0/G>FBCDE@F+ *E@C6??FG 0&&+G >AB=D=CFB7EG /G >FBCDE@F+ *E@C6??FG0&)8G>AB=D=CFB7E'G5GE@FG&4G>FBCDE@F +G *E@C6??FG 0&08G >AB=D=CFB7E'G (/G >FBCDE@F' *E@C6??FG 0)&8G >AB=D=CFB7EG /G >FBCDE@DF+ *E@C6??FG 0(4G 8G >AB=D=CFB7EG './G >FBCDE@FG + *E@C6??FG0(58G>AB=D=CFB7EG'G5GE@FG54G>FB3 CDE@FGA?C@FG> FG9BEG 9ACEG<DG>A:;@A;@DFC" ;E@DGE??EG:FC"G<DG. .4G<FDGCF@@FBDG>FB=DCDGBF? 6 6#6G$E:F7DEG#F@:FGE?G A,?DAG55G GE?G A3 ,?DAG55G G*E@C6??FG0&.8G>AB=D=CFB7E'G GE@FG(4 >FBCDE@F+G*E@C6??FG0&/8G>AB=D=CFB7E'G)4G>FB3 CDE@F+G*E@C6??EG0&(8G AB=D=CFB7E'G5GE@FG.4
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
4M E;;E@CE:FBCAG =DCAG E?G ;DEBA ;@D:AG<DG9BG1E22@D>ECAGEG>DB 9FG;DEBDG19A@D CF@@EGA?C@FG;A@7DABFG<DG9BG=ACCACFCCAGBAB E2DCE2D?FG1E>FBCFG;E@CFG<DG9BG>A:;?F==AG<D 2FBDGD::A2D?DE@DG=DCAGBF?G>A:9BFG<DG$E:F3 7DEG#F@:F8G1@E7DABFG @ABCDG8G@DABFG @EB<D3 BFCCD8GE>>F==D2D?FG<E??EG=C@E<EG;@A-DB>DE?F ;F@>A@@FB<AG 9BEG =C@E<EG ;@D-ECEG <DG E>3 >F==AG 8G >A:;@FB<FBCFG ;E@CD>F??FG <DG CF@3 @FBAG <DG -E@DEG E:;DF77EG =9G >9DG =ABAG =CED @FE?D77ECDG=C@E<FGE>>F==A8G>A@CD?DGFG;DE77E?D+ =9GCE?DG9?CD:D8GDB=D=CABAG?A>E?DGE<G9BG;DEBA 19A@DGCF@@E8GCFCCADFGFG2A GE9CA8G> FG>A=CDC9D3 =>ABAG <DG 1ECCA8G DBG ;E@CFG 8G ;F@CDBFB7FG <F? 1E22@D>ECAG ;@DB>D;E?FG <ACECAG <DG -EBA E=>FB=A@FGF=CF@BA6 $%E;;E@CE:FBCAG>AB1DBEGE<GA-F=CG>ABGE;3 ;E@CE:FBCAGEG?D-F??AG8GDBGCF=CEGE<GE?C@EG<DCE FG-EBAG=>E?E+GEG=9<G>ABGE11E>>DAG=9G=;E7DA DB<D-D=AG <F=CDBECAG EG -DE2D?DC"G >A:9BFG <D >9DG=DG EGE>>F==AGE?G1E22@D>ECAG+GEGBA@<GF< EG F=CG >ABG E11E>>DAG =9G >A@CFG F=>?9=D-EG E? 1E22@D>ECAG 6G $%E;;E@CE:FBCAG G >A=CDC9DCA 19B7DABE?:FBCFG <EG >9>DBE3;@EB7A3=A,3 ,DA@BA8G@D;A=CD,?DA8G<9FG2E,BD8G9BG<D=D:;F3 ,BA8G<9FG>E:F@FG<EG?FCCAGFGG<9FG2E?>ABD @D=;FCCD-E:FBCFG=9?G?ECAGBA@<G>ABGE>>F==A * GFG?%E?C@AG>ABGE>>F==AG<EG>E:F@EG<E ?FCCA6G $%E;;E@CE:FBCAG BABG G >A:;?FCECA BF??FG1DBDC9@F8G:EB>EBAG;E-D:FBCDG8G@D-F=CD3 :FBCDG8G=EBDCE@DGF<GE;;E@F>> DG9CD?D77ECA@D 8?EGCDBCF,,DEC9@E6G G<ACECAG<DGDB1D==DGDBCF@BD F<GF=CF@BD8G>ABGD:;DEBCDG=DEGF?FCC@D>AG> F D<@D>A6G ?G?ACCAG>A:;@FB<FGE;;E@CE:FBCA >FB=DCAG>ECE=CE?:FBCFGBF?G 6 6 6 6G<F?G>A3 :9BFG<DG$E:F7DEG#F@:FG GE?G A,?DAG55 *E@C6??FG /.G 92G!GFG9BEG 9ACEG<DG>A:;@A3 ;@DFC"G;E@DGE??EG:FCEG<DG5 /G<FDGCF@@FBDG>FB3 =DCDGBF?G 6 6#G<DG$E:F7DEG#F@:FGE?G A,?DA 55G*E@C6??FG /58G>AB=D=CFB7E+G0.G>FBCDE@F+ *E@C6??FG0/(8G>AB=D=CFB7EG5.GE@FG/G>FBCDE@F+ *E@C6??FG0&4G8>AB=D=CFB7E'5GE@FG0/G>FBCDE@F+ *E@C6??FG 0&&+G >AB=D=CFB7EG /G >FBCDE@F+ *E@C6??FG0&)8G>AB=D=CFB7E'G5GE@FG&4G>FBCDE@F +G *E@C6??FG 0&08G >AB=D=CFB7E'G (/G >FBCDE@F' *E@C6??FG 0)&8G >AB=D=CFB7EG /G >FBCDE@DF+ *E@C6??FG 0(4G 8G >AB=D=CFB7EG './G >FBCDE@FG + *E@C6??FG0(58G>AB=D=CFB7EG'G5GE@FG54G>FB3 CDE@FGA?C@FG> FG9BEG 9ACEG<DG>A:;@A;@DFC" ;E@DGE??EG:FC"G<DG. .4G<FDGCF@@FBDG>FB=DCDGBF? 6 6#6G$E:F7DEG#F@:FGE?G A,?DAG55G GE?G A3 ,?DAG55G G*E@C6??FG0&.8G>AB=D=CFB7E'G GE@FG(4 >FBCDE@F+G*E@C6??FG0&/8G>AB=D=CFB7E'G)4G>FB3 CDE@F+G*E@C6??EG0&(8G AB=D=CFB7E'G5GE@FG.4 >FBCDE@F+G*E@C6??FG0)48G>AB=D=CFB7E'G5)G>FB3 CDE@F+G*E@C6??FG0)!8G>AB=D=CFB7EG'/GE@FG(/ >FBCDE@FG+G*E@C6??FG0)/8G>AB=D=CFB7E'G.GE@F ((G>FBCDE@FG+G*E@C6??FG0))8G>AB=D=CFB7EG'G. E@FG (G>FBCDE@F+G*E@C6??FG0(.8G>AB=D=CFB7E 'G 5G E@FG 5/G >FBCDE@F6G 9??EG ;E@CD>F??EG 0/(8 ;@A=;D>DFBCFG D?G 1E22@D>ECAG >ABCFBFBCFG D <9FG E;;E@CE:FBCDG A,,FCCAG <DG ;D,BA@E3 :FBCA8GDB=D=CABAG>A@;DG<DG1E22@D>EGE<G9B ;DEBAG19A@DGCF@@E8G@D=;FCCD-E:FBCFG<E??FG<D3 :FB=DABDGDBG;DEBCEG<DG)844G:G G)8/4G:GF 548!4G:G G)844G:G6G$EG=9;F@1D>DFG>A::F@3 >DE?FG <F??%E;;E@CF:FBCAG G ;E@DG E?G 5.!80 : 6G F??EG -E?9CE7DABFG =DG G CFB9CAG >ABCA <F??FG=;F=FG<DG=EBECA@DEG<F??%E:;DEG<D=;A3 BD2D?DC"G <DG E@FFG ;F@CDBFB7DE?DG FG >A@CD?D7DF8 <F??EG;@F=FB7EG<F??%E=>FB=A@FGFG:EB91ECCD EG =F@-D7DAG <F??%E2DCE7DABF6G AB>F==DABF <D?D7DEGDBG EBECA@DEGB .0G<F?G5) 45 .44&B @D?E=>DECEG<E?G A:9BFG<DG$E:F7DEG#F@:F6 BG:F@DCAGE??%F=D=CFB7EG<F??EG<D> DE@E7DABF <DGE,D2D?DC"G?%F=;F@CAG<EG@D>F@> FGF11FCC9ECF ;@F==AG?%E@> D-DAG<F??% 11D>DAG#F>BD>AG<F? A:9BFG<DG$E:F7DEG#F@:FGBABG EG@DB-F3 B9CAGE?>9BEG?D>FB7EG<DGE2DCE2D?DC"GAGE,D2D3 ?DC"+ EKHL<JGIMMMB)LMIBBIEELM7KCCJELMKMGLE?KFKM@LEMHJ
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
M CF@@FBAGE,@D>A?AG>A?CD-ECAGE< 5KGIEL, 9?D-FCA8G=DCAGBF?G>A:9BFG<DG$E:F7DEG#F@:F BIFCKDLEJGIMB)LMHJMFJGAEJMLMHJMDLCGKFJ=KIFL 3G EBC% 91F:DE8G?A>E?DC"G 6G A:FBD>AG3G@D3 D6ACIMDLHMBI?@LFDKIM@K:FIEJGI>MAFKGJ?LFGL ;A@CECAG BF?G @F?ECD-AG >ECE=CAG E?G 1A,?DAG <D JHHJM BJELF=JM DKM LHL?LFGKM @EI5JGIEKM DJM BAK :E;;EG B6G &8G ;6??EG ))08G >ABG =9;F@1D>DFG <D @IGLEML<KFBLELMKHMBIFBELGIM@LEKBIHIMDKMAFMELHJ4 : 6G544/+G E?A@FG 6G 6//08/& GK<IMDLGLEKIEJ?LFGIMFLHHLM?IELMDLHHJMDL7KFK4
4M CF@@FBAGE,@D>A?AG>A?CD-ECAGE< =KIFLMDLHHJM@EIBLDAEJMDKM<LFDKGJ>MKFDABIFIMJ 9?D-FCA8G=DCAGBF?G>A:9BFG<DG$E:F7DEG#F@:F EKGLFLELMB)LMHJMCICGKGA=KIFLMDLHMDL5KGIELMBIF 3G EBC% 91F:DE8G?A>E?DC"G 6G A:FBD>AG3G@D3 AFMGLE=IMFLHH6JGGK<KG$MMDKMBACGIDKJM:KADK=KJEKJ ;A@CECAG BF?G @F?ECD-AG >ECE=CAG E?G 1A,?DAG <D FIFM J55KJM >M JHHIM CGJGI>M AGKHKG$>M L M JEG;M 33 > :E;;EG B6G &8G ;6??EG )(58G >ABG =9;F@1D>DFG <D BI??JM M>MB;@;B;>MBI?LMFI<LHHJGIMDJHHLMHL::K : 6G!!/+G E?A@FG 6G56/(080! 9 1993M >M 1%# 1993M LM 30 199%M >M 7LE?IM EL4 "8M 2.&2M/.*- /M.-'-M* 2M8+M 2M CGJFDIM H6I55HK:IM DKM ELFDLELM KHM BIFGIM DKM :L4
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
KDNJGOQLPIQKPJCOLPQFOQHDOQNII;NJK=Q.&)BQHMCCN 1BQH=E=H=" M@LOQHMLHMJJPLKPBQEPJQPGGPJPQNCCPGGMQNII;OL< HNLKMBQFP?PQEJPGPLKNJPQOGKNLANQFOQENJKPHOEN< AOMLPBQOLQJP@MINQHMLQOIQ:MIIMBQJPHNLKPBQNQEPLN FOQ OLP>>OHNHONBQ I OLFOHNAOMLPQ FPIQ LDCPJMQ FO J=@=P=Q FPIINQ EJMHPFDJNBQ OIQ :PLPQ MQ OIQ IMKKMQ HDO I;OGKNLANQGKPGGNQ'QJO>PJOKNBQOIQEJPAAMQEJMEMGKMB IPQEJMEJOPQ@PLPJNIOK8Q LMCPBQHM@LMCPBQIDM@M PQ FNKNQ FOQ LNGHOKNBQ HMFOHPQ >OGHNIPB JPGOFPLAN FMCOHOIOMBQGKNKMQHO?OIPQPBQGPQHMLOD< @NKMBQ JP@OCPQ ENKJOCMLONIPQ >JNQ OQ HMLOD@O7Q OL HNGMQFOQHMCDLOMLPQIP@NIPQFPOQ:PLOBQMHHMJJPJ8 OLFOHNJPQNLH4PQIPQ@PLPJNIOK8QFPIQHMLOD@PQLML M>>PJPLKPBQ NIQ >OLPQ FOQ EMKPJQ KJNG>PJOJPQ NFQ PL< KJNC:OBQEJMQ5DMKNBQOIQ:PLPBQOLQHNGMQFOQN@@ODFO< HNAOMLP7Q LPII;OEMKPGOQ FOQ NH5DOGKMQ NQ KOKMIM EPJGMLNIPQFNQENJKPQFOQDLQHMLOD@PQOLQJP@OCP FOQ HMCDLOMLPQ FPOQ :PLOBQ MHHMJJPQ EJMFDJJPB MIKJPQNIINQFOH4ONJNAOMLPQFOQ5DPGK;DIKOCMBQP QNJK= 1 $BQHMCCNQ1BQIPKK=Q>BQHMF=QHO?=BQ5DPIINQFPIQHM< LOD@PQ LMLQ NH5DOJPLKPQ FOQ HDOQ NIQ GPHMLFM HMCCNQFPIINQCPFPGOCNQFOGEMGOAOMLPQLMJCN< KO?N"BQI;PGEJPGGNQFOH4ONJNAOMLPQFOQN?PJQEJPGM ?OGOMLPQ FPIINQ EPJOAONQ FOQ GKOCN7Q I;OGKNLANBQ LPI HNGMQFOQEJPGPLKNAOMLPQFNQENJKPQFOQDLQCOLM< JPLLPBQFM?J8QPGGPJPQGMKKMGHJOKKNQFNOQ@PLOKMJOB EJP?ONQNDKMJOAANAOMLPQFPIQ@ODFOHPQKDKPINJPBQFN FPEMGOKNJPQOLQHMEONQHML>MJCP7 OLQHNGMQFOQOGKNLANQEJPGPLKNKNQHML@ODLKNCPLKP FNQEO QGM@@PKKOBQFP?PQPGGPJPQOLFOHNKMQHMIDO H4PQ N::ONQ I;PGHIDGO?NQ >NHMIK8Q FOQ >MJCDINJP P?PLKDNIOQM>>PJKPQOLQNDCPLKM7QLMLQGNJ8QEMGGO< :OIPQKJNG>PJOJPQI;OCCM:OIPQNQGM@@PKKMQFO?PJGM FNQ5DPIIMQH4PQGMKKMGHJO?PQI;OGKNLAN7QNII;OGKNLAN FOQENJKPHOENAOMLPQFP?PQPGGPJPQNIIP@NKNQHMEON FOQ?NIOFMQFMHDCPLKMQFOQOFPLKOK8QFPIQHMLHMJ< JPLKPQ PBQ GPQ LPHPGGNJOMBQ ?NIOFNQ FMHDCPLKN< AOMLPQHMCEJM?NLKPQOQEMKPJOQMQINQIP@OKKOCNAOMLP FPIIMQGKPGGMQ NFQPG=QEJMHDJNQGEPHONIPQMQHPJKO< >OHNKMQHNCPJNIPQOLQHNGMQFOQGMHOPK8"7 HMLQI;OGKNLANQFOQENJKPHOENAOMLPBQFNQEJPGPL< KNJGOQOLQ:DGKNQH4ODGNBQGPLANQGP@LOQFOQJOHMLM< GHOCPLKMBQFP?PQPGGPJPQFPEMGOKNKMQNGGP@LM HOJHMINJPQLMLQKJNG>PJO:OIPBQOLKPGKNKMQNIIPQ MGKP 9KNIONLPQG=E=N= BQKJNCOKPQHDOQP>>PKKDNJPQOIQ?PJGN< CPLKMQFPIINQHNDAOMLPQ PFQOLQHMLKMQEJPAAMQFO N@@ODFOHNAOMLP"BQOLQJN@OMLPQFOQDLQFPHOCMQFPI EJPAAMQ:NGPQF;NGKN7 NII PGKPJLMQFPIINQ:DGKNQ?NLLMQNLLMKNKOBQNQHDJN FPIQ HNLHPIIOPJPQ JOHP?PLKPBQ OIQ LMCPBQ EJP?ON OFPLKO>OHNAOMLPBQ FOQ H4OQ CNKPJONICPLKPQ EJM?< ?PFPQNIQFPEMGOKMBQOIQLMCPQFPIQ@ODFOHPQFPII PGP< HDAOMLPQPQINQFNKNQFPII DFOPLANQ>OGGNKNQEPJQIN ?PLFOKNQNII;OLHNLKM7 IPQ:DGKPQGNJNLLMQNEPJKPQNII DFOPLANQGKN:OIOKN EPJQI;OLHNLKMQNIINQEJPGPLANQFP@IOQOGKNLKOBQINQHDO HMCENJOAOMLPQ'QLPHPGGNJONQNOQ>OLOQFPII;N@@OD< FOHNAOMLPBQH4PQGNJ8QFOGEMGKNQGPHMLFMQIPQEJP< GHJOAOMLOQ FPII;NJK=Q .&1Q H=E=H=7Q INQ CNLHNKN ENJKPHOENAOMLPQNII;OLHNLKMBQEPJGMLNICPLKPQM NQCPAAMQFOQEJMHDJNKMJPQGEPHONIPBQGPLANQFM< HDCPLKNKMQPQ@ODGKO>OHNKMQCMKO?MBQHMCEMJKPJ8 I;OLHNCPJNCPLKMQFOQ1 1,QFPIINQHNDAOMLPBQH4PB FOQ HMLKJMBQ GNJ8Q OCCPFONKNCPLKPQ JPGKOKDOKN FMEMQINQH4ODGDJNQFPII;OLHNLKMBQM?PQI;M>>PJPLKPB JP@MINJCPLKPQEJPGPLKPBQLMLQFO?PL@NQN@@OD< FOHNKNJOM7QLPIQHNGMQFOQDLNQGMINQOGKNLANQFOQENJ< KPHOENAOMLPBQMHHMJJPJ8QHMCDL5DPQNEEMJKNJP DLQJONIAMQCOLOCMBQP QNJK=Q.&1BQHMCCNQ*BQEPJ HMLGP@DOJPQI;N@@ODFOHNAOMLPQEJM??OGMJON7 NQLMJCNQFPII;NJK=Q.& QH=E=H=BQOL>NKKOBQN??PLDKM I;OLHNLKMBQEMGGMLMQPGGPJPQEJPGPLKNKPQM>>PJKP FOQNH5DOGKMQPLKJMQOIQKPJCOLPQEPJPLKMJOMQFOQFOPHO @OMJLOQFNIINQ@NJNBQCNQPGGPQLMLQGMLMQP>>OHNHO GPQOIQEJPAAMQM>>PJKMQLMLQGDEPJNQFOQ1 .Q5DPIIM JN@@ODLKMQLPII;OLHNLKM7QI;N@@ODFOHNAOMLPBQEPJ< KNLKMBQ FO?PJJ8Q FP>OLOKO?NQ M?PBQ FPHMJGOQ FOPHO @OMJLOBQLMLQGONLMQGKNKPQEJPGPLKNKPQM>>PJKPQOL NDCPLKM7 KNIOQM>>PJKPQEMKJNLLMQPGGPJPQFPEMGOKNKPQEJPGGM INQ0NLHPIIPJONBQLPIIPQ>MJCPQFOQHDOQNII;NJK=Q. 1 H=E=H=BQEJPGKNLFMQHNDAOMLPQEPJQDLNQGMCCN ENJOQNIQFMEEOMQFPIINQHNDAOMLPQ?PJGNKNQEPJQIN ENJKPHOENAOMLPQNII;OLHNLKM=Q9LQHNGMQFOQEJPGPL< KNAOMLPQFOQKNIOQM>>PJKPBQ?PJJ8QOLFPKKNQDLNQ@NJN GPHMLFMQIPQEJP?OGOMLOQFOQHDOQNII;NJK=Q.& QH=E=H== (PQLPGGDLMQFP@IOQM>>PJPLKOQOLQNDCPLKMQENJKP< HOENQNIINQ@NJNQOLFPKKNQNQLMJCNQFPII;NJK=Q.& B HMCCNQ)BQH=E=H=BQI;N@@ODFOHNAOMLPQFO?PLKNQFP< >OLOKO?NQPQ?PJJ8QEJMLDLHONKNQNQHNJOHMQFP@IOQM>< >PJPLKOQ GNI?MQH4PQJOHMJJNQDLQFMHDCPLKNKMQP @ODGKO>OHNKMQCMKO?M"QINQEPJFOKNQFPIINQHNDAOMLPB OIQHDOQOCEMJKMQ'QKJNKKPLDKMQHMCPQJOL?PLOPLKPQN KDKKOQ@IOQP>>PKKOQFNII;PGPHDAOMLP7Q OLQM@LOQHNGMBQIPQGEPGPQFPIQKJNG>PJOCPLKMQHN< FMLMQNQHNJOHMQFPII;N@@ODFOHNKNJOMBQHDOQJPGKNLM JOGPJ?NKPQIPQNKKO?OK8QPFQOQHMGKOQEPJQINQJP@OGKJN< AOMLPQPQKJNGHJOAOMLPQFPIQFPHJPKMQLMLH4 QEPJ INQHNLHPIINAOMLPQFPIIPQ>MJCNIOK8QEJP@ODFOAOP< ?MIOQ@JN?NLKOQGD@IOQOCCM:OIOQNH5DOGKNKO7 'QEMGGO:OIPBQEPJQOQENJKPHOENLKOQNIIPQNGKPBQMKKP< LPJPQCDKDOQNQKNGGOQPQHMLFOAOMLOQPHMLMCOH4P EJPGKN:OIOKOQFNQM@LOQGOL@MINQ:NLHNQNFPJPLKP EJMKMHMIIMQ 6 9 QEPJQINQHMLHPGGOMLPQFOQCDKDO N@IOQN@@ODFOHNKNJO7QI;PIPLHMQFPIIPQ:NLH4PQNFP< JPLKOQNII;OLOAONKO?NQEPJQOIQ+JO:DLNIPQFOQ-NCPAON
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
<Q 2* 23.+#,1&23#1,231*3 0%/ 10 /.%/(3 0--03 -2&0-1, 3 2%+*/.103 .+ 0(
.2 +3 /3 1,1 0**1(3 /#,/#23 !/.3 &1.&03 0 $"' ')$(3.1!2.,0,23*/-3 3 13,0-/3&2%+*/ 0-3 2 -123))(!'--03")(3#/%1*0,1 231..1 +2 3 /+.23))'") (
-2,,23 +/3 3 2* 23.+#,1&23#1,231*3 0%/ 10 /.%/(30--03-2&0-1, 3 2%+*/.10(3/#,/#23!/. &1.&03 0'3 $"' )' $(3 .1!2.,0,23 */-3 3 1 ,0-/3&2%+*/30-03 2 -123)))(3!'--03 (30 .+ %/,2 /+.23) ') "( $ (9Q /3#/Q6302 6Q32+2Q0 /Q9-Q /Q 6 (+6 9-9+2Q0 /Q-6Q%/3#9+6Q6%%9/3/Q 6--/Q(/ !/3+9Q023#9 9239
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
QJHKQCQONQS RS MKPJHKQCQONQS RBBRMMFPMRS JFLS <RNR NONH7 SIRLSGPAPERNMOSIRLLRSJGRJRSIQSMKPJBR> KQERNMODS IPS RBBRMMFPKJQS HONMRJMFPLERNMRS P 4FRLLOSIRLLPSIQBBRKRNCPSIRLSGKRCCOSIQSPAAQFIQ> HPCQONRDS NRLLPS EQJFKPS IRLS 1- S IQS 4FRJM=FL> MQEODSJPK8SRERJJOSQLSIRHKRMOSIQSMKPJBRKQERNMOD PQSJRNJQSIRLL=PKM?S0 $SH?G?H?: ,PERCQPS.RKERDSL S2 ?-+?1-21 "1< 38 :78;4:7<':3,: :;4:7
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
FPNMOSPLLPS@RNIQMPSJRNCPSQNHPNMODSIPSRBBRM> MFPKJQSPLSGKRCCOS<PJRSIQSRFKOS1+$?000D-2SGRK QLSLOMMOSFNQHO:S HQPJHFNS OBBRKRNMRDS PQS JRNJQS IRLL=PKM?S 0(2D HOEEPS 2DS H?G?H?DS MKPNNRS QLS IR<QMOKRDS )S PE> ERJJOSPSBOKEFLPKRSOBBRKMRSGRKSL=PH4FQJMOSGRK> JONPLERNMRSOSPSERCCOSIQSGKOHFKPMOKRSLRAPLRD PNH7RSPSNOKEPSIRLL=PKM?S0( DSHOEEPS+DSH?G?H? QLSGKOHFKPMOKRSLRAPLRSIO@K8DSQNSOANQSHPJODSRJ> JRKRSEFNQMOSIQSEPNIPMOSJGRHQPLRSKQJFLMPNMRSIP PMMOSGF<<LQHOSOSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMPD NONSRJJRNIOSJFBBQHQRNMRSL=OKIQNPKQOSEPNIPMO PLLRS LQMQ:S NRLL=QGOMRJQS IQS HFQS PLS HQMPMOS PKM?S 0( D HOEEPS+DSQLSEPNIPMOSJGRHQPLRSKQJFLMPNMRSIP PMMOSGF<<LQHOSOSJHKQMMFKPSGKQ@PMPSPFMRNMQHPMP IO@K8S RJJRKRS IRGOJQMPMOS HONMRJMFPLERNMR PLLPSIQH7QPKPCQONRSIRLSNOEQNPMQ@OSIRLLPSGRK> JONPDSIPSRBBRMMFPKJQSNRLSMRKEQNRSIQSHFQSPLL=PKM? 0 +DSHOEEPS2DSH?G?H?#DSGKRJRNMPNIOSGKRJJO LPS/PNHRLLRKQPSIRLLRS5JRHFCQONQS;EEO<QLQPKQD IQH7QPKPCQONRDSQNSKRAOLPSHONSQLS<OLLODSHONMR> NRNMRDSPSGRNPSIQSQNRBBQHPHQPDSL'QNIQHPCQONRSIRL NFERKOSIQSK?A?R?SIRLLPSGKOHRIFKPDSIRLS<RNRS R IRLSLOMMO#SHFQSL=OBBRKMPSJQSKQBRKQJHRDSIRLSGKRCCOD IRLSMREGODSIRLSEOIOSIRLSGPAPERNMOSRSIQSOANQ PLMKOSRLRERNMOSFMQLRSPLLPS@PLFMPCQONRSIRLL'OB> BRKMP: IRMMPS IQH7QPKPCQONRS IR@RDS PLMKRJ DS KRHPKRS LR ARNRKPLQM8S IRLL=OBBRKRNMRS NOERDS HOANOERD LFOAOSRSIPMPSIQSNPJHQMPDSHOIQHRSBQJHPLRDSKRJQ> IRNCP IOEQHQLQODSJMPMOSHQ@QLRSRDSJRSHONQFAPMOD KRAQERSGPMKQEONQPLRSBKPSQSHONQFAQ:SQNSHPJOSIQ HOEFNQONRS LRAPLRS IRQS <RNQDS OHHOKKRK8S QNIQ> HPKRSPNH7RSLRSARNRKPLQM8SIRLSHONQFARSNONSOB> BRKRNMRDSPLSBQNRSIQSGOMRKSMKPJBRKQKRSPISRNMKPE<QD GKOS4FOMPDSQLS<RNRDSQNSHPJOSIQSPAAQFIQHPCQONR: NRLL=QGOMRJQSIQSPH4FQJMOSPSMQMOLOSGRKJONPLRSIP GPKMRSIQSFNSHONQFARSQNSKRAQERSIQSHOEFNQONR IRQS<RNQDSOHHOKKRSGKOIFKKRDSOLMKRSPLLPSIQH7QP> KPCQONRSIQS4FRJM=FLMQEODSR SPKM?S2( DSHOEEP 2DSLRMM?SBDSHOI?SHQ@?DS4FRLLPSIRLSHONQFARSNONSPH> 4FQKRNMRSIQSHFQSPLSJRHONIOSHOEEPSIRLLPSER> IRJQEPSIQJGOJQCQONRSNOKEPMQ@P#DSL=RJGKRJJP IQH7QPKPCQONRSIQSP@RKSGKRJOS@QJQONRSIRLLPSGR> KQCQPSIQSJMQEPSRISRJJRKRSHOKKRIPMPSIPSHOGQPSIQ @PLQIOSIOHFERNMOSIQSQIRNMQM8SIRLL=OBBRKRNMRSRD JRS NRHRJJPKQODS IPS @PLQIPS IOHFERNMPCQONR HOEGKO@PNMRSQSGOMRKQSOSLPSLRAQMMQEPCQONRSIRLLO JMRJJOS PISRJ?SGKOHFKPSJGRHQPLRSOSHRKMQBQHPMO HPERKPLRSQNSHPJOSIQSJOHQRM8#: L=OBBRKMPDSNRLSHPJOSIQSGKRJRNMPCQONRSIPSGPKMR IQS FNS EQNOKRNNRDS IO@K8S RJJRKRS JOMMOJHKQMMP IPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSIRLSAQFIQHR MFMRLPKRDSIPSPLLRAPKRSQNSHOGQPSHONBOKER: QNSHPJOSIQSIQH7QPKPCQONRSGKRJRNMPMPSHONAQFN> MPERNMRSIPSGQ SJOAARMMQDSIR@RSRJJRKRSQNIQHPMO HOLFQSH7RSP<<QPSL=RJHLFJQ@PSBPHOLM8SIQSBOKEF> LPKRSR@RNMFPLQSOBBRKMRSQNSPFERNMO: NONSJPK8SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOSIQ@RKJOSIPS4FRLLOSH7RSJOMMOJHKQ@RSL=OB> BRKMP: L=OBBRKMPS)SQKKR@OHP<QLRDSJPL@OSH7R S2?SQLSAQFIQHR
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
GRKJONPLRSIPSGPKMRSIQSFNSHONQFARSQNSKRAQER IQS HOEFNQONRS IRQS <RNQDS OHHOKKRS GKOIFKKRD OLMKRSPLLPSIQH7QPKPCQONRSIQS4FRJM=FLMQEODSR SPKM? 2( DSHOEEPS2DSLRMM?SBDSHOI?SHQ@?DS4FRLLPSIRLSHO> NQFARS NONS PH4FQKRNMRS IQS HFQS PLS JRHONIO HOEEPSIRLLPSERIRJQEPSIQJGOJQCQONRSNOKEP> MQ@P#DSL=RJGKRJJPSIQH7QPKPCQONRSIQSP@RKSGKRJO @QJQONRSIRLLPSGRKQCQPSIQSJMQEP: L=QJMPNCPDSNRLSHPJOSIQSGKRJRNMPCQONRSIPSGPKMR IQS FNS EQNOKRNNRDS IO@K8S RJJRKRS JOMMOJHKQMMP IPQSARNQMOKQDSGKR@QPSPFMOKQCCPCQONRSIRLSAQFIQHR MFMRLPKRDSIPSIRGOJQMPKRSQNSHOGQPSHONBOKER: QNSHPJOSIQSQJMPNCPSGKRJRNMPMPSHONAQFNMPERNMR IPSGQ SJOAARMMQDSIR@RSRJJRKRSQNIQHPMOSHOLFQ H7RS P<<QPS L=RJHLFJQ@PS BPHOLM8S IQS BOKEFLPKR R@RNMFPLQSOBBRKMRSQNSPFERNMO: NONSJPK8SGOJJQ<QLRSMKPJBRKQKRSL=QEEO<QLRSPSJOA> ARMMOS IQ@RKJOS IPS 4FRLLOS H7RS JOMMOJHKQ@R L=QJMPNCP: PLL=QJMPNCPSIQSGPKMRHQGPCQONRSIR@RSRJJRKRSPL> LRAPMPSHOGQPSIQS@PLQIOSIOHFERNMOSIQSQIRNMQM8 IRLSHONHOKKRNMRSRDSJRSNRHRJJPKQODS@PLQIPSIO> HFERNMPCQONRSHOEGKO@PNMRSQSGOMRKQSOSLPSLRAQM> MQEPCQONRS IRLLOS JMRJJOS PIS RJ?S GKOHFKP JGRHQPLRSOSHRKMQBQHPMOSHPERKPLRSQNSHPJOSIQSJO> HQRM8#: HONSL=QJMPNCPSIQSGPKMRHQGPCQONRDSIPSGKRJRN> MPKJQSQNS<FJMPSH7QFJPDSJRNCPSJRANQSIQSKQHONO> JHQERNMODSIR@RSRJJRKRSIRGOJQMPMOSPJJRANO HQKHOLPKRSNONSMKPJBRKQ<QLRDSQNMRJMPMOSPLLRS OJMR ;MPLQPNRSJ?G?P? DSMKPEQMRSHFQSRBBRMMFPKRSQLS@RKJP> ERNMOSIRLLPSHPFCQONRS RISQNSHONMOSGKRCCOSIQ PAAQFIQHPCQONR#DSQNSKPAQONRSIQSFNSIRHQEOSIRL GKRCCOS<PJRSI=PJMP: PLL'RJMRKNOSIRLLPS<FJMPS@PNNOSPNNOMPMQDSPSHFKP IRLS HPNHRLLQRKRS KQHR@RNMRDS QLS NOERDS GKR@QP QIRNMQBQHPCQONRDS IQS H7QS EPMRKQPLERNMRS GKO@> @RIRSPLSIRGOJQMODSQLSNOERSIRLSAQFIQHRSIRLL'RJR> HFCQONRSRSLPSIPMPSIRLL'FIQRNCPSBQJJPMPSGRKSLP @RNIQMPSPLL=QNHPNMO: LRS<FJMRSJPKPNNOSPGRKMRSPLL'FIQRNCPSJMP<QLQMP GRKSL=QNHPNMOSPLLPSGKRJRNCPSIRALQSQJMPNMQDSLPSHFQ HOEGPKQCQONRS)SNRHRJJPKQPSPQSBQNQSIRLL=PAAQF> IQHPCQONRDSH7RSJPK8SIQJGOJMPSJRHONIOSLRSGKR> JHKQCQONQS IRLL=PKM?S 0 2S H?G?H?:S LPS EPNHPMP GPKMRHQGPCQONRSPLL=QNHPNMODSGRKJONPLERNMRSO PSERCCOSIQSGKOHFKPMOKRSJGRHQPLRDSJRNCPSIO> HFERNMPMOSRSAQFJMQBQHPMOSEOMQ@ODSHOEGOKMRK8 L=QNHPERKPERNMOSIQS2 2-SIRLLPSHPFCQONRDSH7RD IQS HONMKODS JPK8S QEERIQPMPERNMRS KRJMQMFQMP IOGOSLPSH7QFJFKPSIRLL=QNHPNMODSO@RSL=OBBRKRNMRD KRAOLPKERNMRSGKRJRNMRDSNONSIQ@RNAPSPAAQF> IQHPMPKQO:SNRLSHPJOSIQSFNPSJOLPSQJMPNCPSIQSGPK> MRHQGPCQONRDSOHHOKKRK8SHOEFN4FRSPGGOKMPKR FNSKQPLCOSEQNQEODSR SPKM?S0 2DSHOEEPS1DSGRK HONJRAFQKRSL=PAAQFIQHPCQONRSGKO@@QJOKQP: PSNOKEPSIRLL=PKM?S0 SH?G?H?DSQNBPMMQDSP@@RNFMO L=QNHPNMODSGOJJONOSRJJRKRSGKRJRNMPMRSOBBRKMR IQSPH4FQJMOSRNMKOSQLSMRKEQNRSGRKRNMOKQOSIQSIQRHQ AQOKNQSIPLLPSAPKPDSEPSRJJRSNONSJONOSRBBQHPHQ JRSQLSGKRCCOSOBBRKMOSNONSJFGRKPSIQS2 0S4FRLLO KPAAQFNMOSNRLL=QNHPNMO:SL=PAAQFIQHPCQONRDSGRK> MPNMODS IQ@RKK8S IRBQNQMQ@PS O@RDS IRHOKJQS IQRHQ AQOKNQDSNONSJQPNOSJMPMRSGKRJRNMPMRSOBBRKMRSQN PFERNMO: MPLQSOBBRKMRSGOMKPNNOSRJJRKRSIRGOJQMPMRSGKRJJO LPS/PNHRLLRKQPDSNRLLRSBOKERSIQSHFQSPLL=PKM?S0(2 H?G?H?DSGKRJMPNIOSHPFCQONRSGRKSFNPSJOEEP GPKQSPLSIOGGQOSIRLLPSHPFCQONRS@RKJPMPSGRKSLP GPKMRHQGPCQONRSPLL=QNHPNMO?S;NSHPJOSIQSGKRJRN> MPCQONRSIQSMPLQSOBBRKMRDS@RKK8SQNIRMMPSFNPSAPKP JRHONIOSLRSGKR@QJQONQSIQSHFQSPLL=PKM?S0 SH?G?H?? *RSNRJJFNOSIRALQSOBBRKRNMQSQNSPFERNMOSGPKMR> HQGPSPLLPSAPKPSQNIRMMPSPSNOKEPSIRLL=PKM?S0 D HOEEPS+DSH?G?H?DSL=PAAQFIQHPCQONRSIQ@RNMPSIR> BQNQMQ@PSRS@RKK8SGKONFNHQPMPSPSHPKQHOSIRALQSOB> BRKRNMQS JPL@OSH7RSKQHOKKPSFNSIOHFERNMPMOSR AQFJMQBQHPMOSEOMQ@O#SLPSGRKIQMPSIRLLPSHPFCQONRD QLSHFQSQEGOKMOS)SMKPMMRNFMOSHOERSKQN@RNQRNMRSP MFMMQSALQSRBBRMMQSIPLL=RJRHFCQONR:S QNSOANQSHPJODSLRSJGRJRSIRLSMKPJBRKQERNMOSHR> IONOSPSHPKQHOSIRLL=PAAQFIQHPMPKQODSHFQSKRJMPNO KQJRK@PMRSLRSPMMQ@QM8SRISQSHOJMQSGRKSLPSKRAQJMKP> CQONRSRSMKPJHKQCQONRSIRLSIRHKRMOSNONH7 SGRK LPSHPNHRLLPCQONRSIRLLRSBOKEPLQM8SGKRAQFIQCQR> @OLQSAKP@PNMQSJFALQSQEEO<QLQSPH4FQJMPMQ: )SGOJJQ<QLRDSGRKSQSGPKMRHQGPNMQSPLLRSPJMRDSOMMR> NRKRSEFMFQSPSMPJJQSRSHONIQCQONQSRHONOEQH7R GKRJMP<QLQMQSIPSOANQSJQNAOLPS<PNHPSPIRKRNMR GKOMOHOLLOS 9 ; SGRKSLPSHONHRJJQONRSIQSEFMFQ PALQSPAAQFIQHPMPKQ:SL=RLRNHOSIRLLRS<PNH7RSPIR> KRNMQSPLL=QNQCQPMQ@PSGRKSQLS.KQ<FNPLRSIQS,PERCQP .RKERS)SKRGRKQ<QLRSGKRJJOSLPS/PNHRLLRKQP:S ;6S!5,9 ;365S9,,9S&56%;.9 S*56 9S;6/96.3 )SBQJJPMODSGRKSLPSGKRJRNMPCQONRSGKRJJOSLPS/PN> HRLLRKQPSIRLLRS5JRHFCQONQS;EEO<QLQPKQSIRLLRSOB> BRKMRS IQS PH4FQJMODS R S PKM?S 0(2S H?G?H?DS IRL HOEGRNIQOSQEEO<QLQPKRSJOGKPSQNIQHPMOSRSER> ALQOSIRJHKQMMOSNRLLPSKRLPCQONRSIRLL=RJGRKMOSQN PMMQDSPLLPS4FPLRSJQSBPSRJGKRJJOSKQH7QPEODS4FPLR GPKMRSQNMRAKPNMRSRSJOJMPNCQPLRSIRLLPSGKRJRNMR OKIQNPNCPDS MRKEQNRS BQNOS PLLRS OKRS 2+?--S IRL 21?-$?1-21DSHONSLRSEOIPLQM8SRSGRKSQLSGKRCCO <PJRSIQSHFQSJOGKP: )SBQJJPMPDSGRKSL=RJPERSIRLLRSOBBRKMRSIQSPH4FQ> JMODSPQSJRNJQSIRLL=PKM?S0(1SH?G?H?DSO@@RKOSGRKSLP
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
PT=QOIQLRPTRONSKNQNPTQMMQTHLPISJGLQTSKSIGNRAQ SJT QIISKPT PT JQT QIISOJSLKRET OSMT KSIPOJP IQKPETHLSKKPTRMT PONSTJSRT QKI6RTJRT,RSOQ ,@H@:@ T T CRMRQMST JRT /QFSDRQT .SLFSET JRT GOQ KPFFQTHQLRTQJTGOTJSIRFPTJSMTHLSDDPTI6STKR RONSOJSTPCCLRLSTSTFSJRQONSTMQTIPFGORIQDRPOSE QTFSDDPTNSMSCQ TPTHPKNQTSMSNNLPORIQETOSMTLR? KHSNNPTJSMMQTOPLFQNRAQETQOI6STLSBPMQFSONQLSE IPOISLOSONST MQT KPNNPKILRDRPOSET MQT NLQKFRK? KRPOSTSTMQTLRISDRPOSTJSRTJPIGFSONRTROCPLFQNRIR STNSMSNLQKFSKKRETJRTGOQTJRI6RQLQDRPOSTIPONS? OSONSTMSTROJRIQDRPORTJRTIGRTQMMPTKNSKKPTQLN@T1*2 I@H@I@;TJSNNPTQIILSJRNPTJSASTQASLSTMGPBPTOPO PMNLSTIRO4GSTBRPLORTHLRFQTJSMMQTKIQJSODQTJSM NSLFROSTSONLPTRMT4GQMSTHPKKPOPTSKKSLSTHLPHP? KNSTMSTPCCSLNSTJ(QI4GRKNP;TCROTJ>PLQTKRTHLSASJS I6SET4GQOJPTM(PCCSLNQT+THLSKSONQNQTIPOTMSTFP? JQMRN9TQMNSLOQNRASETRMTNSLFROSTHSLTRMTASLKQFSONP JSMTHLSDDPTSTJRTPBORTQMNLQTKPFFQT+TJRTOPAQONQ BRPLOR; ROTPBORTIQKPETMSTKHSKSTJSMTNLQKCSLRFSONPTIQ? JPOPTQTIQLRIPTJSMM>QBBRGJRIQNQLRPETIGRTLSKNQOP LRKSLAQNSTMSTQNNRARN9TSJTRTIPKNRTHSLTMQTLSBRKNLQ? DRPOSTSTNLQKILRDRPOSTJSMTJSILSNPTOPOI6 THSL MQTIQOISMMQDRPOSTJSMMSTCPLFQMRN9THLSBRGJRDRS? APMRTBLQAQONRTKGBMRTRFFP=RMRTQI4GRKNQNR; +THPKKR=RMSETHSLTRTHQLNSIRHQONRTQMMSTQKNSETPNNS? OSLSTFGNGRTQTNQKKRTSTIPOJRDRPORTSIPOPFRI6S HLSKNQ=RMRNRTJQTPBORTKROBPMQT=QOIQTQJSLSONS HLPNPIPMMPT : < THSLTMQTIPOISKKRPOSTJRTFGNGR QBMRTQBBRGJRIQNQLR;TM>SMSOIPTJSMMST=QOI6STQJS? LSONRTQMM>RORDRQNRAQTHSLTRMT.LR=GOQMSTJRT/QFSDRQ .SLFST+TLSHSLR=RMSTHLSKKPTMQT0QOISMMSLRQ;T 4GQONPTQMM>SASONGQMSETKGIISKKRAQTASOJRNQTQBMR ROIQONR SKKQTJSASTQASLTMGPBPTQMTHLSDDPT=QKSTJRTSGLP 225@ 1$E15THSLTRMTMPNNPTGORIP;T MSTPCCSLNSTROTQGFSONPETQTHSOQTJRTROQFFRKKR=R? MRN9ET OPOT JSAPOPT SKKSLST ROCSLRPLRT QJ @ @555E55; PBOGOPET QRT KSOKRT JSMM>QLN@T 1* ET IPFFQT 2E I@H@I@ETNLQOOSTRMTJS=RNPLSET+TQFFSKKPTQTCPLFG? MQLST PCCSLNST QMM>ROIQONPT HSLKPOQMFSONSET Q FSDDPTJRTFQOJQNQLRPTFGORNPTJRTHLPIGLQTKHS? IRQMSTPTJRTHLPIGLQNPLSTMSBQMSETQOI6STQTOPLFQ JSMM>QLN@T1* ETIPFFQT)ETI@H@I@T!RMTHLPIGLQNPLS MSBQMSTJPAL9ETROTPBORTIQKPETSKKSLSTFGORNPTJR FQOJQNPTKHSIRQMSTLRKGMNQONSTJQTQNNPTHG==MRIP PTKILRNNGLQTHLRAQNQTQGNSONRIQNQETOPOTSKKSOJP KGCCRIRSONST M>PLJROQLRPT FQOJQNPT QMMST MRNR;T OSM? M>RHPNSKRTJRTIGRTQMTIRNQNPTQLN@T1* ETIPFFQT)ETRM FQOJQNPTKHSIRQMSTLRKGMNQONSTJQTQNNPTHG==MRIP PTKILRNNGLQTHLRAQNQTQGNSONRIQNQTJPAL9TSKKSLS JSHPKRNQNPT IPONSKNGQMFSONST QMMQT JRI6RQLQ? DRPOSTJSMTOPFROQNRAPTJSMMQTHSLKPOQETJQTSCCSN? NGQLKRTOSMTNSLFROSTJRTIGRTQMM>QLN@T1$)ETIPFFQ 2ETI@H@I@% PBORTIPOIPLLSONSETHSLTSKKSLSTQFFSKKPTQMM>RO? IQONPETJSASTHLSKSONQLSTRKNQODQTJRTHQLNSIRHQ? DRPOSETROTLSBPMQTIPOTRMT=PMMPETLSIQONSETQTHSOQ JRT ROSCCRIQIRQET M(ROJRIQDRPOST JSMT OGFSLPT JR L@B@S@T JSMMQT HLPISJGLQET RMT =SOST PT RMT MPNNPT IGR M>RKNQODQTKNSKKQT+TLRCSLRNQETRMTHLSDDPTHLPHPKNPE MSTHLPHLRSTBSOSLQMRN9T!OPFSETIPBOPFSETMGPBP ST JQNQT JRT OQKIRNQET IPJRIST CRKIQMSE LSKRJSODQ JPFRIRMRPETKNQNPTIRARMSTSETKSTIPORG? BQNPET LSBRFST HQNLRFPORQMST CLQT RT IPORGBR;T RO IQKPTJRTIPFGORPOSTMSBQMSTJSRT=SORETPIIPLLSL9 ROJRIQLSTQOI6STMSTBSOSLQMRN9TJSMTIPORGBSTOPO PCCSLSONSET QMT CROST JRT HPNSLT NLQKCSLRLST QJT SO? NLQF=RETHLPT4GPNQETRMT=SOSETROTIQKPTJRTQBBRGJR? IQDRPOS;T OSMM>RHPNSKRT JRT QI4GRKNPT QT NRNPMP HSLKPOQMSTJQTHQLNSTJRTGOTIPORGBSTROTLSBRFS JRT IPFGORPOST JSRT =SORET PIIPLLST HLPJGLLSE PMNLSTQMMQTJRI6RQLQDRPOSTJRT4GSKN>GMNRFPETS TQLN@ 2* ETIPFFQT2ETMSNN@TCETIPJ@TIRA@ET4GSMMQTJSMTIP? ORGBST OPOT QI4GRLSONST JRT IGRT QMT KSIPOJP IPFFQTJSMMQTFSJSKRFQTJRKHPKRDRPOSTOPLFQ? NRAQ%ETM>SKHLSKKQTJRI6RQLQDRPOSTJRTQASLTHLSKP ARKRPOSTJSMMQTHSLRDRQTJRTKNRFQ; M>RKNQODQETOSMTIQKPTJRTHLSKSONQDRPOSTJQTHQLNS JRT GOT FROPLSOOSET JPAL9T SKKSLST KPNNPKILRNNQ JQRTBSORNPLRETHLSARQTQGNPLRDDQDRPOSTJSMTBRGJRIS NGNSMQLSETJQTJSHPKRNQLSTROTIPHRQTIPOCPLFS; ROTIQKPTJRTRKNQODQTHLSKSONQNQTIPOBRGONQFSONS JQTHR TKPBBSNNRETJSASTSKKSLSTROJRIQNPTIPMGR I6ST Q==RQT M>SKIMGKRAQT CQIPMN9T JRT CPLFGMQLS SASONGQMRTPCCSLNSTROTQGFSONP; OPOTKQL9THPKKR=RMSTNLQKCSLRLSTM>RFFP=RMSTQTKPB? BSNNPT JRASLKPT JQT 4GSMMPT I6ST KPNNPKILRAS M>RKNQODQ; QMM>RKNQODQTJRTHQLNSIRHQDRPOSTJSASTSKKSLSTQM? MSBQNQTIPHRQTJRTAQMRJPTJPIGFSONPTJRTRJSONRN9 JSMTIPOIPLLSONSTSETKSTOSISKKQLRPETAQMRJQTJP? IGFSONQDRPOSTIPFHLPAQONSTRTHPNSLRTPTMQTMSBRN? NRFQDRPOST JSMMPT KNSKKPT !QJT SK@T HLPIGLQ KHSIRQMSTPTISLNRCRIQNPTIQFSLQMSTROTIQKPTJRTKP? IRSN9%; IPOTM>RKNQODQTJRTHQLNSIRHQDRPOSETJQTHLSKSO? NQLKRTROT=GKNQTI6RGKQETKSODQTKSBORTJRTLRIPOP? KIRFSONPETJSASTSKKSLSTJSHPKRNQNPTQKKSBOP IRLIPMQLSTOPOTNLQKCSLR=RMSETRONSKNQNPTQMMST PKNS <NQMRQOSTK@H@Q@ ETNLQFRNSTIGRTSCCSNNGQLSTRMTASLKQ? FSONPTJSMMQTIQGDRPOST!SJTROTIPONPTHLSDDPTJR QBBRGJRIQDRPOS%ETROTLQBRPOSTJRTGOTJSIRFPTJSM HLSDDPT=QKSTJ>QKNQ; QMM(SKNSLOPTJSMMQT=GKNQTAQOOPTQOOPNQNRETQTIGLQ
JSMT IQOISMMRSLST LRISASONSET RMT OPFSET HLSARQ RJSONRCRIQDRPOSET JRT I6RT FQNSLRQMFSONST HLPA? ASJSTQMTJSHPKRNPETRMTOPFSTJSMTBRGJRISTJSMM(SKS? IGDRPOSTSTMQTJQNQTJSMM(GJRSODQTCRKKQNQTHSLTMQ ASOJRNQTQMM>ROIQONP; MST=GKNSTKQLQOOPTQHSLNSTQMM(GJRSODQTKNQ=RMRNQ HSLTM>ROIQONPTQMMQTHLSKSODQTJSBMRTRKNQONRETMQTIGR IPFHQLRDRPOST+TOSISKKQLRQTQRTCRORTJSMM>QBBRG? JRIQDRPOSETI6STKQL9TJRKHPKNQTKSIPOJPTMSTHLS? KILRDRPORT JSMM>QLN@T 1$2T I@H@I@;T MQT FQOIQNQ HQLNSIRHQDRPOSTQMM>ROIQONPETHSLKPOQMFSONSTP QTFSDDPTJRTHLPIGLQNPLSTKHSIRQMSETKSODQTJP? IGFSONQNPTSTBRGKNRCRIQNPTFPNRAPETIPFHPLNSL9 M>ROIQFSLQFSONPTJRT2 25TJSMMQTIQGDRPOSETI6SE JRT IPONLPET KQL9T RFFSJRQNQFSONST LSKNRNGRNQ JPHPTMQTI6RGKGLQTJSMM>ROIQONPETPASTM>PCCSLSONSE LSBPMQLFSONSTHLSKSONSETOPOTJRASOBQTQBBRG? JRIQNQLRP;TOSMTIQKPTJRTGOQTKPMQTRKNQODQTJRTHQL? NSIRHQDRPOSETPIIPLLSL9TIPFGO4GSTQHHPLNQLS GOTLRQMDPTFRORFPETS TQLN@T1$2ETIPFFQT-ETHSL IPOKSBGRLSTM>QBBRGJRIQDRPOSTHLPAARKPLRQ; QTOPLFQTJSMM>QLN@T1$ TI@H@I@ETROCQNNRETQAASOGNP M>ROIQONPETHPKKPOPTSKKSLSTHLSKSONQNSTPCCSLNS JRTQI4GRKNPTSONLPTRMTNSLFROSTHSLSONPLRPTJRTJRSIR BRPLORTJQMMQTBQLQETFQTSKKSTOPOTKPOPTSCCRIQIR KSTRMTHLSDDPTPCCSLNPTOPOTKGHSLQTJRT2 1T4GSMMP LQBBRGONPTOSMM>ROIQONP;TM>QBBRGJRIQDRPOSETHSL? NQONPET JRASLL9T JSCRORNRAQT PASET JSIPLKRT JRSIR BRPLORETOPOTKRQOPTKNQNSTHLSKSONQNSTPCCSLNSTRO QGFSONP; NQMRTPCCSLNSTHPNLQOOPTSKKSLSTJSHPKRNQNSTHLSKKP MQT0QOISMMSLRQETOSMMSTCPLFSTJRTIGRTQMM>QLN@T1*2 I@H@I@ETHLSKNQOJPTIQGDRPOSTHSLTGOQTKPFFQ HQLRTQMTJPHHRPTJSMMQTIQGDRPOSTASLKQNQTHSLTMQ HQLNSIRHQDRPOSTQMM>ROIQONP@T<OTIQKPTJRTHLSKSO? NQDRPOSTJRTNQMRTPCCSLNSETASLL9TROJSNNQTGOQTBQLQ KSIPOJPTMSTHLSARKRPORTJRTIGRTQMM>QLN@T1$ TI@H@I@@ ,STOSKKGOPTJSBMRTPCCSLSONRTROTQGFSONPTHQLNS? IRHQTQMMQTBQLQTROJSNNQTQTOPLFQTJSMM>QLN@T1$ E IPFFQT)ETI@H@I@ETM>QBBRGJRIQDRPOSTJRASONQTJS? CRORNRAQTSTASLL9THLPOGOIRQNQTQTIQLRIPTJSBMRTPC? CSLSONRT!KQMAPTI6STLRIPLLQTGOTJPIGFSONQNPTS BRGKNRCRIQNPTFPNRAP%TMQTHSLJRNQTJSMMQTIQGDRPOSE RMTIGRTRFHPLNPT+TNLQNNSOGNPTIPFSTLROASORSONSTQ NGNNRTBMRTSCCSNNRTJQMM>SKSIGDRPOS;T ROTPBORTIQKPETMSTKHSKSTJSMTNLQKCSLRFSONPTIS? JPOPTQTIQLRIPTJSMM>QBBRGJRIQNQLRPETIGRTLSKNQOP LRKSLAQNSTMSTQNNRARN9TSJTRTIPKNRTHSLTMQTLSBRKNLQ? DRPOSTSTNLQKILRDRPOSTJSMTJSILSNPTOPOI6 THSL MQTIQOISMMQDRPOSTJSMMSTCPLFQMRN9THLSBRGJRDRS? APMRTBLQAQONRTKGBMRTRFFP=RMRTQI4GRKNQNR; +THPKKR=RMSETHSLTRTHQLNSIRHQONRTQMMSTQKNSETPNNS? OSLSTFGNGRTQTNQKKRTSTIPOJRDRPORTSIPOPFRI6S HLSKNQ=RMRNRTJQTPBORTKROBPMQT=QOIQTQJSLSONS HLPNPIPMMPT : < THSLTMQTIPOISKKRPOSTJRTFGNGR QBMRTQBBRGJRIQNQLR;TM>SMSOIPTJSMMST=QOI6STQJS? LSONRTQMM>RORDRQNRAQTHSLTRMT.LR=GOQMSTJRT/QFSDRQ .SLFST+TLSHSLR=RMSTHLSKKPTMQT0QOISMMSLRQ;T <8T#7/: <387T://:T'78&<.:T ,78 :T<80:8.3 +TCRKKQNPETHSLTMQTHLSKSONQDRPOSTHLSKKPTMQT0QO? ISMMSLRQTJSMMST7KSIGDRPORT<FFP=RMRQLRTJSMMSTPC? CSLNST JRT QI4GRKNPET S T QLN@T 1*2T I@H@I@ET JSM IPFHSOJRPTRFFP=RMRQLSTKPHLQTROJRIQNPTSTFS? BMRPTJSKILRNNPTOSMMQTLSMQDRPOSTJSMM>SKHSLNPTRO QNNRETQMMQT4GQMSTKRTCQTSKHLSKKPTLRI6RQFPET4GQMS HQLNSTRONSBLQONSTSTKPKNQODRQMSTJSMMQTHLSKSONS PLJROQODQET NSLFROST CROPT QMMST PLST 2)@55T JSM 2-@5 @-52-ETIPOTMSTFPJQMRN9TSTHSLTRMTHLSDDP =QKSTJRTIGRTKPHLQ; +TCRKKQNQETHSLTM>SKQFSTJSMMSTPCCSLNSTJRTQI4GR? KNPETQRTKSOKRTJSMM>QLN@T1*-TI@H@I@ETPAASLPTHSLTMQ BQLQT KGMMST FSJSKRFSET KST HLSKSONQNST ROT FR? KGLQTKGHSLRPLSTQJTGOQETQRTKSOKRTJSMM>QLN@T1*) I@H@I@ETM>GJRSODQTJSMT+.25$2-5+-6?>:<?5 6.5 S KSBB@; 87/T0:,3T<8T0"<T/:T'78&<.:T ,78 :T<80:8.3T838T: <:T/"3 3E +TCRKKQNPETHSLTMQTHLSKSONQDRPOSTHLSKKPTMQT0QO? ISMMSLRQT JSMMST 7KSIGDRPORT <FFP=RMRQLRT JSMMS RKNQODSTJRTHQLNSIRHQDRPOSTQMMQTASOJRNQTQRTHG=? =MRIRTROIQONRTJSMTIPFHSOJRPTRFFP=RMRQLSTKPHLQ ROJRIQNPT ST FSBMRPT JSKILRNNPT OSMMQT LSMQDRPOS JSMM>SKHSLNPTROTQNNRETQMMQT4GQMSTKRTCQTSKHLSKKP LRI6RQFPET 4GQMST HQLNST RONSBLQONST ST KPKNQO? DRQMSTJSMMQTHLSKSONSTPLJROQODQETNSLFROSTCROP QMMSTPLST2)@55TJSMT- @5 @-52-ETIPOTMSTFPJQ? MRN9TSTHSLTRMTHLSDDPTFRORFPTJRTIGRTKPHLQ; +TCRKKQNQETHSLTRMTBRPLOPT-"25$2-5+-6?>:<?5 2.5 STKSBB@ETMQTASOJRNQTQRTHG==MRIRTROIQONRTJSMTIPF? HSOJRPTRFFP=RMRQLSTKPHLQTROJRIQNPETIPOTMSTFP? JQMRN9TSTHSLTRMTHLSDDPT=QKSTJRTIGRTROOQODR; /:T'78&<.:T:''<787T://7T,7 "78.<T 038&< <38<ET,<:T ":/3#:T'<T,<T :00<: /"3 3T,78 :T<80:8.3ET,<:T ":/3#:T '<T,<T :00<:T/"3 3T038T<80:8.3 BMRT RFFP=RMRT ASOBPOPT HPKNRT ROT ASOJRNQT OSMMP KNQNPTJRTCQNNPTSTJRTJRLRNNPTROTIGRTKRTNLPAQOPETIPK
IPFST RJSONRCRIQNRET JSKILRNNRT ST AQMGNQNRT JQM? M>SKHSLNPTOSMMQTLSMQDRPOSETIPOTPBORTSASONGQMS KSLARN TQNNRAQTSTHQKKRAQTROSLSONSTST4GPNSTIPO? JPFRORQMRTLSMQNRAS; MQTASOJRNQT+TQTIPLHPTSTOPOTQTFRKGLQ;TSASONGQMR JRCCSLSODSTJRTFRKGLQTOPOTHPNLQOOPTJQLTMGPBP QJTQMIGOTLRKQLIRFSONPETROJSOORN9TPTLRJGDRPOS JSMTHLSDDP;TMQTASOJRNQTCPLDQNQTOPOT+TKPBBSNNQ QMMSTOPLFSTIPOISLOSONRTMQTBQLQODRQTHSLTARDRTP
FQOIQODQTJRT4GQMRN9ETO THPNL9TSKKSLSTLSAP? IQNQTHSLTQMIGOTFPNRAP@T 0POKSBGSONSFSONSTM>SKRKNSODQTJRTSASONGQMR ARDRET FQOIQODQT JRT 4GQMRN9T PT JRCCPLFRN9T JSMMQ IPKQTASOJGNQETPOSLRTJRT4GQMKRQKRTBSOSLST?TRAR IPFHLSKRETQJTSKSFHRPET4GSMMRTGL=QORKNRIRTPA? ASLPT JSLRAQONRT JQMMQT SASONGQMST OSISKKRN9T JR QJSBGQFSONPT JRT RFHRQONRT QMMST MSBBRT ARBSONRE KHSKSTIPOJPFRORQMRTJSMM>QOOPTROTIPLKPTSTJSM? M>QOOPTHLSISJSONSTTOPOTHQBQNSTJQMTJS=RNPLST? HSLT4GQMKRQKRTFPNRAPTOPOTIPOKRJSLQNRETQOI6S KSTPIIGMNRTSTIPFGO4GSTOPOTSARJSODRQNRTROTHS? LRDRQETOPOTTHPNLQOOPTJQLTMGPBPTQJTQMIGOTLRKQL? IRFSONPET ROJSOORN9T PT LRJGDRPOST JSMT HLSDDPE SKKSOJPKRTJRTIR TNSOGNPTIPONPTOSMMQTAQMGNQ? DRPOSTJSRT=SOR; M>QBBRGJRIQNQLRPTJPAL9TASLKQLSTMQTJRCCSLSODQ JSMTHLSDDPT!JSNLQNNQTJQMTHLSDDPTJRTQBBRGJRIQ? DRPOSTMQTIQGDRPOSTJRTIGRTKPHLQ%TSONLPTGOTNSL? FROSTFQKKRFPTJRTKSKKQONQTBRPLORTJQMMQTJQNQ JRTQBBRGJRIQDRPOSTFSJRQONSTQKKSBOPTIRLIP? MQLSTOPOTNLQKCSLR=RMSTRONSKNQNPTQT PKNST<NQMRQOS K@H@Q@ T!4GQMPLQTRMTHLPISJRFSONPTKRTCPOJRTKG ILSJRNPT CPOJRQLRPT ST M>QBBRGJRIQNQLRPT OPOT RO? NSOJQTQAAQMSLKRTJSMMQTCQIPMN9TJRTKG=SONLQLSTOSM IPONLQNNPET QMM>QKKSBOPT IRLIPMQLST KQL9T KPKNR? NGRNPETS TQLN@T 2ETIPFFQT ET&@/BK@T2TKSNNSF? =LST 2 )ET O@T )$1ET RMT HQBQFSONPT JRLSNNPT QMMQ =QOIQTILSJRNLRISETOSRTMRFRNRTJSMTILSJRNPTQDRPOQNP HSLTIQHRNQMSETRONSLSKKRTSTKHSKSTIPOTIPMMPIQ? DRPOSTHLRARMSBRQNQETSONLPTMPTKNSKKPTNSLFROSTS JSNLQNNPTGOTQIIQONPOQFSONPTHSLTKHSKSTOSMMQ FRKGLQTI6STKQL9TROJRIQNQTJQMTB@S@%;TROTFQO? IQODQET KRT HLPAASJSL9T QT JRI6RQLQLST MQT JSIQ? JSODQTJQMM>QBBRGJRIQDRPOSETQTOPLFQTJSMM>QLN@ 1$*TI@H@I@; KPMNQONPT QMM>SKRNPT JSBMRT QJSFHRFSONRT HLSIS? JSONRETJSMMQTHLPJGDRPOSTJRTQBBRPLOQNRTISLNRCRIQNR IQNQKNQMRTSTJRTQBBRPLOQNRTISLNRCRIQNRTLSMQNRARTQMMS RKILRDRPORT ST NLQKILRDRPORT SCCSNNGQNST KGMT =SOS OPOI6 TJSMTHQBQFSONPTJSMMSTKHSKSTJRTNLQKCS? LRFSONPET JQT SCCSNNGQLKRT IPONSKNGQMFSONST Q 4GSMMPTJSMMQTJRCCSLSODQTJSMTHLSDDPTJRTQBBRGJR? IQDRPOSET OSMMQT FRKGLQT JSMT -5 T JRT 4GSKN>GM? NRFPETKQL9TSFSKKPTRMTJSILSNPTJRTNLQKCSLRFSONPE QRTKSOKRTJSMM>QLN@T1$ TI@H@I@; /QFSDRQT.SLFSETM T--@5)@-52 9? 37(=>7;:=>? =3,=(=;:=>
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
O??QMPJQR OMG5QR DQHPOMLQR K<OGGJQHPLNCR O DQBBNRHPR;NMP@PGNRNRHQFNIPLNRIERGNMLNRFNILOKQ NR;OMGOJPNRPMLQILOLNROKKORFJNGQHEJORQIQGELP?O QHR OGGQINR NR HOR OGGQMHQJIPCR MQKR IQGNMHN GOINCRFJQIINRPKR NMLQRHQPR OIG5PRHPR'PQMO '>F>6> R R @PKPOKQR HPR -ODQBPOR +QJDQCR HPR EMO INDDORFOJPROHREMRHQGPDNRHQKRFJQBBNRG5QRIP PMLQMHQRN@@JPJQRQRDQHPOMLQRKORGNDEMPGOBPNMQC ORDQBBNRLQKQ@O RNRFNILORQKQLLJNMPGOCRMQKRJP= IFQLLNRHQKKORMNJDOLP?OCROMG5QRJQANKODQMLOJQC GNMGQJMQMLQR KOR INLLNIGJPBPNMQCR KOR LJOIDPI= IPNMQRQRKORJPGQBPNMQRHQPRHNGEDQMLPRPM@NJDOLPGP QRLQKQLJOIDQIIPCRHPREMORHPG5POJOBPNMQRGNMLQ= MQMLQRKQRPMHPGOBPNMPRHPRGEPROKKNRILQIINROJL>R/&1 G>F>G>:RHQLLNROGGJQHPLNRHQ?QRO?QJQRKENANRMNM NKLJQRGPM4EQRAPNJMPRFJPDORHQKKORIGOHQMBORHQK LQJDPMQRQMLJNRPKR4EOKQRFNIINMNRQIIQJQRFJNFN=
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
IOAPNMQCR MQKKOR DPGEJOR HQKR .: R HPR 4EQGL=EK< LPDNCRGOJ8RQDQGGNRPKRHQIJQLNRHPRLJOG@QJPDQMLNC OPRGQMGPRHQKK=OJL>R5($RI>F>I>> 3KR,OMIQKKPQJQ @@PIPNR+GQIEAPNMPR3DDN;PKPOJP
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
HOQ;-78<!&01/ 3'& EPIQOKQKMJJMQL=Q2QPQHOQ;-78<+!#3'/ EPIQOKQKMJJMQL= /QNKKNQ>PLHOJNQFMNJJO>NQHPOQGP@DPLJOQ;PLOQOC: CM;OKO
Q -85:<4:79<:</ "<,;66:<49;2:<478 479;5 <,9<-2<;,9%9*98<:,<-)8<: 95:59 8<)958 92< :(;$9:< ;7(;3<68*:695 < :%:782;3< 9: 0< -*9%;783<794875:58<2;0< <:6<%8 698 1.3< 4066:< !"#3< )- 0< +3< *:50< /3< *6:));< 3 :29<1.3 3<49:28< 1 13<282* < -85:<4:79 :</ 1&<,;66:<49;2:<478479;5 <,;66 :,9:*;25; :44;$$:(;258< ,9< 5;77;283< 794875:58< 2;6 <:6<%8 698<1.3<4066:<+++< ; <11 3<++'< ; 11' 3<++&< ; <1/1 3<+ .< ; <1//
Q -85:<4:79<:</ 1&<,;66:<49;2:<478 479;5 <,9<-2<:44;$$:(;258<,9<5;77;28<)958 92< :(;$9:< ;7(;3< 68*:695 < 87;)5;66:3 : ;25;<-2:<)-4;7%9*9;<,9<( 0<'0 #.3<79487 5:58<2;6< <:6<%8 698<#3<4066;</".<;</"1
IOKP>NJMQF5PQMFFMIIPQ?OGGNIPQOQJPICOLOQEPIQKN EIPGPLJNAOMLPQHPKKPQM??PIJPQHOQNF8DOGJMQGPLAN OLFNLJMBQKNQGDFFPGGO>NQDHOPLANQEPIQK<PGNCP HPKKPQGJPGGPQPBQEPIQOKQFNGMQOLQFDOQLMLQN;;ONQEPI 8DNKGONGOQCMJO>MQKDM@MQKNQ>PLHOJNQGPLANQOL: FNLJMBQ?OLQH<MINQKNQHNJNQEPIQ@KOQOLFNLJO9 P>OHPLAONJMBQ 8DNLJMQ NKKNQ >PLHOJNQ GPLANQ OL: FNLJMBQF5P FONGFDLQ M??PIPLJPBQ NOQ GPLGOQ HPKK<NIJ=Q 3+2B FMCCNQ 2BQ F=E=F=BQ JINLLPQ OKQ HP;OJMIPBQ &Q NC: CPGGMQNQ?MICDKNIPQM??PIJPQEPIQK<NF8DOGJMQEPI: GMLNKCPLJPQMQNQCPAAMQHOQEIMFDINJMIPQKP@NKPB NLF5PQNQLMICNQHPKK<NIJ=Q3+ BQFMCCNQ%BQF=E=F= !OKQEIMFDINJMIPQKP@NKPQHM>I7BQOLQM@LOQFNGMBPG: GPIPQCDLOJMQHOQCNLHNJMQGEPFONKPQIOGDKJNLJPQHN NJJMQED;;KOFMQMQGFIOJJDINQEIO>NJNQNDJPLJOFNJNB
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
HNFOH=MIOPJOPMIIN=NI7POGPNPELFINPDOHPJMPHO?NFIHM9 @NLKOPOPIHMFEHN@NLKOPGOJPGOEHOILPKLKE3 PDOH JMPEMKEOJJM@NLKOPGOJJOP>LHBMJNI7PDHO?NCGN@NO9 =LJNP?HM=MKINPFC?JNPNBBL:NJNPME5CNFIMIN8 $PDLFFN:NJOAPDOHPNPDMHIOENDMKINPMJJOPMFIOAPLIIO9 KOHOPBCICNPMPIMFFNPOPELKGN@NLKNPOELKLBNE3O DHOFIM:NJNINPGMPL?KNPFNK?LJMP:MKEMPMGOHOKIO DHLILELJJLP 4 6 PDOHPJMPELKEOFFNLKOPGNPBCICN M?JNPM??NCGNEMIMHN8PJ;OJOKELPGOJJOP:MKE3OPMGO9 HOKINPMJJ;NKN@NMIN=MPDOHPNJP&HN:CKMJOPGNP/MBO@NM &OHBOP$PHODOHN:NJOPDHOFFLPJMP,MKEOJJOHNM8 O=NGOK@NMILAP5CMKILPMJJ;O=OKICMJOAPFCEEOFFN=M =OKGNIMPM?JNPNKEMKINAE3O OFFMPGO=OPM=OHPJCL?LPMJPDHO@@LPNKGNEMILPGN OCHLP %!<-+1A"!P DOHP NJP JLIILP K<P -P OP GNP OCHL %)A"+PDOHPNJPJLIILPK<P+8 JOPL>>OHIOPNKPMCBOKILAPMPDOKMPGNPNKMBBNFFN:N9 JNI7APKLKPGO=LKLPOFFOHOPNK>OHNLHNPMJP1P PGOJ DHO@@LP:MFOPGNPENMFECKPJLIIL8 L?KCKLAP MNP FOKFNP GOJJ;MHI<P 1) AP ELBBMP -A E<D<E<APIHMKKOPNJPGO:NILHOAP$PMBBOFFLPMP>LHBC9 JMHOP L>>OHIOP MJJ;NKEMKILP DOHFLKMJBOKIOAP M BO@@LPGNPBMKGMIMHNLPBCKNILPGNPDHLECHMPFDO9 ENMJOPLPGNPDHLECHMILHOPJO?MJOAPMKE3OPMPKLHBM GOJJ;MHI<P1) APELBBMP%APE<D<E<P#NJPDHLECHMILHO JO?MJOPGL=H7APNKPL?KNPEMFLAPOFFOHOPBCKNILPGN BMKGMILPFDOENMJOPHNFCJIMKIOPGMPMIILPDC::JNEL LPFEHNIICHMPDHN=MIMPMCIOKINEMIMAPKLKPOFFOKGL FC>>NENOKIOP J;LHGNKMHNLP BMKGMILP MJJOP JNIN8P KOJ9 J;NDLIOFNPGNPECNPMJPENIMILPMHI<P1) APELBBMP%APNJ BMKGMILPFDOENMJOPHNFCJIMKIOPGMPMIILPDC::JNEL LPFEHNIICHMPDHN=MIMPMCIOKINEMIMPGL=H7POFFOHO GODLFNIMILP ELKIOFICMJBOKIOP MJJMP GNE3NMHM9 @NLKOPGOJPKLBNKMIN=LPGOJJMPDOHFLKMAPGMPO>>OI9 ICMHFNPKOJPIOHBNKOPGNPECNPMJJ;MHI<P1!%APELBBMPE<D<E<(< L?KNPELKELHHOKIOAPDOHPOFFOHOPMBBOFFLPMJJ;NK9 EMKILAPGO=OPDHOFOKIMHOPNFIMK@MPGNPDMHIOENDM9 @NLKOAPNKPHO?LJMPELKPNJP:LJJLAPHOEMKIOAPMPDOKM GNP NKO>>NEMENMAP J;NKGNEM@NLKOP GOJP KCBOHLP GN H<?<O<P GOJJMP DHLEOGCHMAP NJP :OKOP LP NJP JLIILP ECN J;NFIMK@MPFIOFFMP$PHN>OHNIMAPNJPDHO@@LPDHLDLFILA JOPDHLDHNOP?OKOHMJNI7P#KLBOPAPEL?KLBOAPJCL?L OP GMIMP GNP KMFENIMAP ELGNEOP >NFEMJOA HOFNGOK@M GLBNENJNLAPFIMILPEN=NJOPOAPFOPELKNC9 ?MILAP HO?NBOP DMIHNBLKNMJOP >HMP NP ELKNC?N8P NK EMFLPGNPELBCKNLKOPJO?MJOPGONP:OKNAPLEELHHOH7 NKGNEMHOPMKE3OPJOP?OKOHMJNI7PGOJPELKNC?OPKLK L>>OHOKIOAP MJP >NKOP GNP DLIOHP IHMF>OHNHOP MGP OK9 IHMB:NAPDHLP5CLIMAPNJP:OKOAPNKPEMFLPGNPM??NCGN9 EM@NLKO8P KOJJ;NDLIOFNP GNP ME5CNFILP MP INILJL DOHFLKMJOPGMPDMHIOPGNPCKPELKNC?OPNKPHO?NBO GNP ELBCKNLKOP GONP :OKNAP LEELHHOP DHLGCHHOP A LJIHOPMJJMPGNE3NMHM@NLKOPGNP5COFI;CJINBLAPO PMHI< -) APELBBMP-<PJOII<P><APELG<PEN=<AP5COJJMPGOJPEL9 KNC?OP KLKP ME5CNHOKIOP GNP ECNP MJP FOELKGL ELBBMPGOJJMPBOGOFNBMPGNFDLFN@NLKOPKLHBM9 IN=M(APJ;OFDHOFFMPGNE3NMHM@NLKOPGNPM=OHOPDHOFL =NFNLKOPGOJJMPDOHN@NMPGNPFINBM8 J;NFIMK@MAPKOJPEMFLPGNPDHOFOKIM@NLKOPGMPDMHIO GNP CKP BNKLHOKKOAP GL=H7P OFFOHOP FLIILFEHNIIM GMNP?OKNILHNAPDHO=NMPMCILHN@@M@NLKOPGOJP?NCGNEO ICIOJMHOAPGMPGODLFNIMHOPNKPELDNMPELK>LHBO8 NKPEMFLPGNPNFIMK@MPDHOFOKIMIMPELK?NCKIMBOKIO GMPDN PFL??OIINAPGO=OPOFFOHOPNKGNEMILPELJCN E3OP M::NMP J;OFEJCFN=MP >MELJI7P GNP >LHBCJMHO O=OKICMJNPL>>OHIOPNKPMCBOKIL8 KLKPFMH7PDLFFN:NJOPIHMF>OHNHOPJ;NBBL:NJOPMPFL?9 ?OIILP GN=OHFLP GMP 5COJJLP E3OP FLIILFEHN=O J;NFIMK@M8 MJJ;NFIMK@MPGNPDMHIOENDM@NLKOPGO=OPOFFOHOPMJ9 JO?MIMPELDNMPGNP=MJNGLPGLECBOKILPGNPNGOKINI7 GOJPELKELHHOKIOPOAPFOPKOEOFFMHNLAP=MJNGMPGL9 ECBOKIM@NLKOPELBDHL=MKIOPNPDLIOHNPLPJMPJO?NI9 INBM@NLKOP GOJJLP FIOFFLP #MGP OF<P DHLECHM FDOENMJOPLPEOHIN>NEMILPEMBOHMJOPNKPEMFLPGNPFL9 ENOI7(8 ELKPJ;NFIMK@MPGNPDMHIOENDM@NLKOPAPGMPDHOFOK9 IMHFNPNKP:CFIMPE3NCFMAPFOK@MPFO?KNPGNPHNELKL9 FENBOKILP GO=OP OFFOHOP GODLFNIMILP MFFO?KL ENHELJMHOPKLKPIHMF>OHN:NJOAPNKIOFIMILPMJJOP LFIO 6IMJNMKOPF<D<M< APIHMBNIOPECNPO>>OIICMHOPNJP=OHFM9 BOKILPGOJJMPEMC@NLKOP#OGPNKPELKILPDHO@@LPGN M??NCGNEM@NLKO(ANKPHM?NLKOPGNPCKPGOENBLPGOJ DHO@@LP:MFOPG;MFIM8 MJJ;OFIOHKLPGOJJMP:CFIMP=MKKLPMKKLIMINAPMPECHM GOJP EMKEOJJNOHOP HNEO=OKIOAP NJP KLBOAP DHO=NM NGOKIN>NEM@NLKOAP GNP E3NP BMIOHNMJBOKIOP DHL=9 =OGOPMJPGODLFNILAPNJPKLBOPGOJP?NCGNEOPGOJJ;OFO9 EC@NLKOPOPJMPGMIMPGOJJ;CGNOK@MP>NFFMIMPDOHPJM =OKGNIMPMJJ;NKEMKIL8 JOP:CFIOPFMHMKKLPMDOHIOPMJJ;CGNOK@MPFIM:NJNIM DOHPJ;NKEMKILPMJJMPDHOFOK@MPGO?JNPNFIMKINAPJMPECN ELBDMHN@NLKOP$PKOEOFFMHNMPMNP>NKNPGOJJ;M??NC9 GNEM@NLKOAPE3OPFMH7PGNFDLFIMPFOELKGLPJOPDHO9 FEHN@NLKNP GOJJ;MHI<P 1!-P E<D<E<8P JMP BMKEMIM DMHIOENDM@NLKOPMJJ;NKEMKILAPDOHFLKMJBOKIOPL MPBO@@LPGNPDHLECHMILHOPFDOENMJOAPFOK@MPGL9 ECBOKIMILPLP?NCFIN>NEMILPBLIN=LAPELBDLHIOH7 J;NKEMBOHMBOKILPGNP- -2PGOJJMPEMC@NLKOAPE3OA GNP ELKIHLAP FMH7P NBBOGNMIMBOKIOP HOFINICNIM GLDLPJMPE3NCFCHMPGOJJ;NKEMKILAPL=OPJ;L>>OHOKIOA HO?LJMHBOKIOPDHOFOKIOAPKLKPGN=OK?MPM??NC9 GNEMIMHNL8PKOJPEMFLPGNPCKMPFLJMPNFIMK@MPGNPDMH9 IOENDM@NLKOAPLEELHHOH7PELBCK5COPMDDLHIMHO CKPHNMJ@LPBNKNBLAPO PMHI<P1!-APELBBMP+APDOH ELKFO?CNHOPJ;M??NCGNEM@NLKOPDHL==NFLHNM8
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
FIMKGLP J;L::JN?LP GOJJLP FIOFFLP GNP HOKGOHOP NJ ELKILPGOJJMP?OFINLKOAPO PMHII<P1"2POP1 %PE<D<E<8 HNIOKCILP GNP DLIOHP ELKGN=NGOHOP OP DHOKGOHOP M >LKGMBOKILPGOJPDHLFNO?CLPGOJJMPDHLEOGCHMPJO ELKEJCFNLKNPGOJJMPHOJM@NLKOPGOJJ;OFDOHILAPNKPLH9 GNKOPFNMPMJJMPNKGN=NGCM@NLKOPGOJPELBDOKGNL NBBL:NJNMHOPE3OPMJJMPFINBMPGOJPHOJMIN=LP=MJLHO GNPBOHEMIL8 HM==NFMIOAPDOHIMKILAPJOPELKGN@NLKNPDOHPDHLEO9 GOHOAPMNPFOKFNPGO?JNPMHII<P1" AP1)-POP1)"PE<D<E< ELBOPKL=OJJMINPGMJJOPJO??NP!2 +221AP+"% +221 OP 1- +22"AP MJP GNP 2%04 &*#+***1**16#MJPKOIILPGOJJOPFDOFOPGNPHO?LJM9 HN@@M@NLKOPCH:MKNFINEMAPDMHNPMGPOCHLP%<2-"A22( MJJMP=OKGNIMPELMIIN=MPGOJPFO?COKIOP:OKO P 65,,50.5(2/.46)3.463/6 5(2 356 20(216 5("35)216 !356 5-20(41/ 1 ,35/46,03(416'4(,4).46 56'%'3/5 ,05/ 41 .026).5/ 216%/6"5 /416%/603,4).3 -34626"5'4/2164-.02656%/6!5/4603,4).3 -34603'5!5.4 /2-6)4..4)'5-56 2-6,35/46.200516,206%/56)% ,20 3'326-40 56 36( +6&$*1#*+6 3((4"3-26 03,40.5.46/2-6 65-6 4 -346 #16,+--56&&# 1 )%"6$16'5.+ #16'-5))26&16!5/36 O=NGOK@NMILP 5CMKILP MJJMP =OKGNIMP FOK@MP NK9 EMKILPE3OPP ,NMFECKPL>>OHOKIOAPIHMKKOPNJPGO:NILHOAP$PMB9 BOFFLPMP>LHBCJMHOPL>>OHIOPDOHPJ;ME5CNFILPDOH9 FLKMJBOKIOP LP MP BO@@LP DHLECHMILHOP JO?MJO MKE3OPMPKLHBMPGOJJ;MHI<P1) APCJINBLPELBBMA DHOFOKIMKGLPDHOFFLPJMPEMKEOJJOHNMPGOJJOPOFO9 EC@NLKNP NBBL:NJNMHNAP GNE3NMHM@NLKNAP NKP HO?LJM ELKP NJP :LJJLAP ELKIOKOKIOP J;NKGNEM@NLKOP GOJ DHO@@LAPGOJPIOBDLAPGOJPBLGLPGOJPDM?MBOKIL OPGNPL?KNPMJIHLPOJOBOKILPCINJOPMJJMP=MJCIM@NLKO GOJJ;L>>OHIM8 /;L>>OHIMP$PNHHO=LEM:NJOAPFMJ=LPE3O P-<PNJP?NCGNEO LHGNKNPJ;NKEMKIL8P+<PFNMKLPGOELHFNPEOKIL=OKIN ?NLHKNP GMJJMP FCMP DHOFOKIM@NLKOP OP JMP FIOFFM KLKPFNMPFIMIMPMEELJIM8 /;L>>OHIMPKLKP$PO>>NEMEO P-(PFOPDOH=NOKOPLJIHO NJPIOHBNKOPFIM:NJNIL8P+(PFOP$PNK>OHNLHOPMJPDHO@@L GOIOHBNKMILPMPKLHBMPGOJJ;MHINELJLP1"!POPDN FLDHMPHNELHGMIL8PE(PFOPJ;L>>OHOKIOPKLKPDHOFIM EMC@NLKOAP MP BO@@LP MFFO?KLP ENHELJMHOP KLK IHMF>OHN:NJOPNKIOFIMILPMP P LFIOP6IMJNMKOPFDM A NKPBNFCHMPKLKPNK>OHNLHOPMJPGOENBLPGOJPDHO@@L GMPJCNPDHLDLFIL8P /;L>>OHIMP GO=OP ELKFNFIOHOP NKP CKMP GNE3NMHM9 @NLKOAP NKP HO?LJMP ELKP NJP :LJJLAP ELKIOKOKIOAP M DOKMPGNPNKO>>NEMENMAPJ;NKGNEM@NLKOPGOJPKCBOHL GNPH<?<O<PGOJJMPDHLEOGCHMAPGOJPDHO@@LPL>>OHILA GOJP:OKOP#POPGOJPJLIIL(PECNPFNPHN>OHNFEOPJ;L>>OHIM OPL?KNPMJIHLPOJOBOKILPCINJOPMJJMP=MJCIM@NLKOPGN 5COFIM8 OIIMPGNE3NMHM@NLKOAPGO=OAPMJIHOF APHOEMHOPJO ?OKOHMJNI7P GOJJ;L>>OHOKIOP #KLBOAP EL?KLBOA JCL?LPOPGMIMPGNPKMFENIMAPELGNEOP>NFEMJOAPHOFN9 GOK@MAPFIMILPEN=NJOPOAPFOPELKNC?MILAPHO?NBO DMIHNBLKNMJOP>HMPNPELKNC?N(POGPOFFOHOPELHHO9 GMIMPGMPELDNMPGNP=MJNGLPGLECBOKILPGNPNGOKINI7 GOJJ;L>>OHOKIOPOAPFOPKOEOFFMHNLAP=MJNGMPGLEC9 BOKIM@NLKOPELBDHL=MKIOPNPDLIOHNPLPJMPJO?NIIN9 BM@NLKOP GOJJLP FIOFFLP #P MGP OF<P DHLECHM FDOENMJOPLPEOHIN>NEMILPEMBOHMJO(8P 6KP EMFLP GNP GNE3NMHM@NLKOP DHOFOKIMIMP GMP DN FL??OIINAP GO=OP OFFOHOP NKGNEMILP ELJCNP E3O M::NMPJ;OFEJCFN=MP>MELJI7PGNP>LHBCJMHOPL>>OHIO NKPMCBOKIL8 4JJ;L>>OHIMAP GMP GODLFNIMHFNP NKP :CFIMP E3NCFMA FOK@MPFO?KNPGNPHNELKLFENBOKILAPGO=OPOFFOHO MJJO?MILPJ;MFFO?KLPENHELJMHOPDOHPJMPEMC@NLKOA ELBOPNKKMK@NPNKGNEMIL8PMJJ;OFIOHKLPGOJJMP:CFIM =MKKLPMKKLIMINAPMPECHMPGOJPEMKEOJJNOHOPHNEO9 =OKIOAPNJPKLBOAPDHO=NMPNGOKIN>NEM@NLKOAPGNPE3N BMIOHNMJBOKIOPDHL==OGOPMJPGODLFNILAPNJPKLBO GOJP ?NCGNEOP GOJJ;OFOEC@NLKOP OP JMP GMIMP GOJ9 J;CGNOK@MP>NFFMIMPDOHPJ;OFMBOPGOJJOPL>>OHIO8PJO :CFIOPFMHMKKLPMDOHIOPMJJ;CGNOK@MP>NFFMIMPDOH J;OFMBOPGOJJOPL>>OHIOAPMJJMPDHOFOK@MPGO?JNPL>9 >OHOKINAPL=OPELBDMHFN8 6KPL?KNPEMFLAPJOPFDOFOPGOJPIHMF>OHNBOKILPEO9 GLKLPMPEMHNELPGOJJ;M??NCGNEMIMHNLAPECNPHOFIMKL HNFOH=MIOPJOPMIIN=NI7POGPNPELFINPDOHPJMPEMKEOJJM9 @NLKOPGOJJOP>LHBMJNI78 .=NGOK@NMILPE3OPJMP=OKGNIMPM?JNPNKEMKINPGO=O M=OHPJCL?LPMJPDHO@@LPFLDHMPNKGNEMILPGNPOCHL -2%<222A22P /OPL>>OHIOPNKPMCBOKILAPMPDOKMPGNPNKMBBNFFN9 :NJNI7AP KLKP GO=LKLP OFFOHOP NK>OHNLHNP MP OCHL <222A22P *?KNPELKELHHOKIOAPDOHPOFFOHOPMBBOFFLPMJ9 J;NKEMKILAPGO=OPDHOFOKIMHOPNFIMK@MPGNPDMHIOEN9 DM@NLKOAP NKP HO?LJMP ELKP NJP :LJJLAP HOEMKIOAP M DOKMPGNPNKO>>NEMENMAPJ;NKGNEM@NLKOPGOJPKCBOHL H<?<O<P GOJJMP DHLEOGCHMAP NJP :OKOP LP NJP JLIILP ECN J;NFIMK@MPFIOFFMPFNPHN>OHNFEOAPJOPDHLDHNOP?OKO9 HMJNI7P#KLBOAPEL?KLBOAPJCL?LPOPGMIMPGNPKM9 FENIMAPELGNEOP>NFEMJOAPHOFNGOK@MAPFIMILPEN=NJOPOA FOPELKNC?MILAPHO?NBOPDMIHNBLKNMJOP>HMPNPEL9 KNC?N(8 4JJ;NFIMK@MPGNPDMHIOENDM@NLKOPGO=OPOFFOHOPMJ9 JO?MIMPELDNMPGNP=MJNGLPGLECBOKILPGNPNGOKINI7 GOJPELKELHHOKIOPOAPFOPKOEOFFMHNLAP=MJNGMPGL9 ECBOKIM@NLKOPELBDHL=MKIOPNPDLIOHNPLPJMPJO?NI9 INBM@NLKOP GOJJLP FIOFFLP #P MGP OF<P DHLECHM FDOENMJOPLPEOHIN>NEMILPEMBOHMJO(8P
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
HOERS QJRNLQBQHPLQDS JRIHKQLLQS RS @PMGLPLQS JPM< M=RIFRKLOSNRMMPSKRMPCQONRDSHONSOANQSR@RNLGPMR IRK@QL SPLLQ@PSRSFPIIQ@PSQNRKRNLRSRS4GOLRSHON< JOEQNQPMQSKRMPLQ@R9 MPS@RNJQLPS#SPSHOKFOSRSNONSPSEQIGKP9SR@RNLGPMQ JQBBRKRNCRSJQSEQIGKPSNONSFOLKPNNOSJPKSMGOAO PJSPMHGNSKQIPKHQERNLODSQNJRNNQL8SOSKQJGCQONR JRMSFKRCCO9SMPS@RNJQLPSBOKCPLPSNONS#SIOAARLLP PMMRSNOKERSHONHRKNRNLQSMPSAPKPNCQPSFRKS@QCQSO EPNHPNCPSJQS4GPMQL8DSN SFOLK8SRIIRKRSKR@O< HPLPSFRKSPMHGNSEOLQ@O?S0ONIRAGRNLRERNLR M=RIQILRNCPS JQS R@RNLGPMQS @QCQDS EPNHPNCPS JQ 4GPMQL8SOSJQBBOKEQL8SJRMMPSHOIPS@RNJGLPDSONRKQ JQS4GPMIQPIQSARNRKRS SQ@QSHOEFKRIQDSPJSRIRE< FQODS4GRMMQSGK>PNQILQHQSO@@RKOSJRKQ@PNLQSJPMMP R@RNLGPMRSNRHRIIQL8SJQSPJRAGPERNLOSJQSQE< FQPNLQSPMMRSMRAAQS@QARNLQDSIFRIRSHONJOEQNQPMQ JRMM=PNNOSQNSHOKIOSRSJRMM=PNNOSFKRHRJRNLRSNON FPAPLRS JPMS JR>QLOKRS S FRKS 4GPMIQPIQS EOLQ@O NONSHONIQJRKPLQDSPNH3RSIRSOHHGMLQSRSHOEGN< 4GRSNONSR@QJRNCQPLQSQNSFRKQCQPSDSNONSFOLKPNNO JPKSMGOAOSPJSPMHGNSKQIPKHQERNLODSQNJRNNQL8SO KQJGCQONRSJRMSFKRCCODSRIIRNJOIQSJQSHQ SLRNGLO HONLOSNRMMPS@PMGLPCQONRSJRQS>RNQ9 M=PAAQGJQHPLPKQOSJO@K8S@RKIPKRSMPSJQBBRKRNCP JRMSFKRCCOS JRLKPLLPSJPMSFKRCCOSJQSPAAQGJQHP< CQONRSMPSHPGCQONRSJQSHGQSIOFKP%SRNLKOSGNSLRK< EQNRS EPIIQEOS JQS 7S AQOKNQS JPMMPS JPLPS JQ PAAQGJQHPCQONRSERJQPNLRSPIIRANOSHQKHOMPKR NONS LKPIBRKQ>QMRS QNLRILPLOS PS "OILRS ;LPMQPNR IFP S-S9SQNSEPNHPNCPSIQSFKO@@RJRK8SPSNOKEP JRMM=PKL?S+ *SH?F?H?9 IOMLPNLOS PMM=RIQLOS JRAMQS PJREFQERNLQS FKRHR< JRNLQDSJRMMPSFKOJGCQONRSJQSPAAQOKNPLQSHRKLQBQHPLQ HPLPILPMQSRSJQSPAAQOKNPLQSHRKLQBQHPLQSKRMPLQ@QSPMMR QIHKQCQONQS RS LKPIHKQCQONQS RBBRLLGPLRS IGMS >RNR NONH3 SJRMSFPAPERNLOSJRMMRSIFRIRSJQSLKPIBR< KQERNLOS JPS FPKLRS JRMM=PAAQGJQHPLPKQODS FRK HOERS MQ4GQJPLRS JPMMPS 0PNHRMMRKQPDS IPK8 RERIIOSQMSJRHKRLOSJQSLKPIBRKQERNLODSPQSIRNIQ JRMM=PKL?S+ SH?F?H?9 );,"265DS &:6/2S:..:S"& .;0;/:= ;6S &6 ;265S)5..:S(56);/:DS0 5 IGSQEFGMIOSJRMSFKOHRJRNLRDSIQPSFKRJQIFOILO M=P@@QIOS JQS @RNJQLPDS JPS FG>>MQHPKRS PMM=PM>O JRMM=&BBQHQO9 PSHGKPDSKQIH3QOSRSIFRIRSS KQE>OKIP>QMQSR SPKL?
-**7SHOJ?SHQ@?%SJRMSERJRIQEOSIOAARLLODSIQP JPLPS FG>>MQHQL8S S QNSOANQSHPIODSFRKSGNPSIOMPS@OMLPDSJRMMPSFKR< IRNLRS OKJQNPNCPDS RIHMGIRS MRS NOLRDS IGS JQS GN 4GOLQJQPNOSJQSQNBOKEPCQONRSPSJQBBGIQONRSMOHPMR PSIHRMLPSJRMSHKRJQLOKRDSFG>>MQHQL8SJPSRBBRLLGPKIQ PMERNOS4GPKPNLPHQN4GRSAQOKNQSFKQEPSJRMSLRK< EQNRS FRKS MPS FKRIRNLPCQONRS JRMMRS OBBRKLRS O JRMMPSJPLPSJRMM=QNHPNLO9 QNSOANQSHPIOSDSFRKSGNPSIOMPS@OMLPDSJRMMPSFKR< IRNLRSOKJQNPNCPSDSRIHMGIRSMRSNOLRDSRSJRMMPSKR< MPCQONRSJQSILQEPSJRMM=RIFRKLOSIGMSIQLOSQNLRKNRL
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
<S .0)2.14,34,1(0*3/042.4(32+04/1--2 ,34%+4!2##-3)2/04)3 3.1$4*3/043+4 23,2$4.0) 0+/2'+2$4,34*%(1-!3)314.0-,24(2-3424& $43+,3 3,%2/043+4 4!0'.304 $4(2-/3 )1..24 $4 *%#4 4 3.4 !2##-3)2/04 ,34 )%34 !2 (2-/14(-1*1+/243--1'0.2-3/ 41,3.3 324*2+2#3.3 24)%-2414*(1*14,1'.342''3%,3)2/2-34,134.0//3 414 41+/-04 "4''4,2.4/-2*!1-3&1+/0$4&1 ,32+/14 3.4 (2'2&1+/04 ,34 %+24 *0&&24 ,3 $ 4'3 4,1/-2//14,2.4 2.0-14)0&(.1* *3 04,1.. 3&&0#3.14234!3+34,1..24,1/1-&3+2 30+14,1.4(-1 04#2*14, 2*/2 4 """$""
<S 2((2-/2&1+/042.4(-3&04(32+04,3 %+4 !2##-3)2/04 )3 3.14 *3/04 3+4 23,2$4 .0) 0+/2'+2$4)0&(0*/04,24)%)3+2$4(-2+ 0$ *2.0+1$4/-14*/2+ 14,24.1//0$4,%14#2'+3414%+ -3(0*/3'.30$4,34*%(1-!3)314.0-,24(2-3424& 4 14 #2.)0+34 ,34 & 4 $4 3+,3 3,%2/04 3+ 42.4!0'.304 $4(2-/3)1..24 4*%#4 $43. !2##-3)2/04,34)%34!24(2-/14(-1*1+/243--1'0 .2-3/ 41,3.3 324*2+2#3.3424)%-2414*(1*14,1'.3 2''3%,3)2/2-34,134.0//34 414 41+/-04 "4'' ,2.4/-2*!1-3&1+/0$4&1,32+/143.4(2'2&1+/0 ,34 %+24 *0&&24 ,34 $ 4 '3 4 ,1/-2//1 ,2.4 2.0-14)0&(.1**3 04,1.. 3&&0#3.1423
!3+34,1..24,1/1-&3+2 30+14,1.4(-1 04#2*1 , 2*/2 4 " ""$""
<S /1--1+042'-3)0.043+4.0)2.3/ 4 0+ /2'+24,1.4 0&%+14,34 23,24,34*%(1-!3)31 (2-34 24 & 4 "$4 3+4 )2/2*/04 2.4 !0'.304 $ (2-/3)1..24 4 343+*3*/14%+4(3))0.04!2##-3 )2/042#%*3 042,3#3/0424-3)0 1-04(1-42+3 &2.34 ,24 )0-/3.14 *2+2#3.14 24 )%-24 14 *(1*1 ,1'.342''3%,3)2/2-341+/-04 "4''4,2.4/-2*!1 -3&1+/0$4 &1,32+/14 3.4 (2'2&1+/04 ,34 %+2 *0&&24 ,34 $ 4 '3 4 ,1/-2//14 ,2. (-1 04#2*14, 2*/24,1.. 3+/1-04.0//0 4 """$"" ,;S!56)5S:602!:S62/2S0 5S;.S 5S : ,/: ;.;/2S0 5S.:S(56);/:S:((;565S :..5S,5 &56/;S026); ;26; (56);/:S,56 :S;60:6/2 GPNLOSPMMPS@RNJQLPSIRNCPSQNHPNLODSJPSRBBRL< LGPKIQSPMSFKRCCOS>PIRSJQSRGKOS11?777D77SFRKSQM MOLLOSN?S1SRSJQSRGKOS17?+77D77SFRKSQMSMOLLOSN?S-D RJSRGKOS ?777D77SFRKSQMSMOLLOSN?S'9SSS HQPIHGNS OBBRKRNLRDS PQS IRNIQS JRMM=PKL?S +*1D HOEEPS 1DS H?F?H?DS LKPNNRS QMS JR>QLOKRDS #S PE< ERIIOSPSBOKEGMPKRSOBBRKLRSFRKSM=PH4GQILOSFRK< IONPMERNLRSOSPSERCCOSJQSFKOHGKPLOKRSMRAPMRD PNH3RSPSNOKEPSJRMM=PKL?S+* DSHOEEPS'DSH?F?H? QMSFKOHGKPLOKRSMRAPMRSJO@K8DSQNSOANQSHPIODSRI< IRKRSEGNQLOSJQSEPNJPLOSIFRHQPMRSKQIGMLPNLRSJP PLLOSFG>>MQHOSOSIHKQLLGKPSFKQ@PLPSPGLRNLQHPLPD NONSRIIRNJOSIGBBQHQRNLRSM=OKJQNPKQOSEPNJPLO PMMRS MQLQ9S NRMM=QFOLRIQS JQS HGQS PMS HQLPLOS PKL?S +* D HOEEPS'DSQMSEPNJPLOSIFRHQPMRSKQIGMLPNLRSJP PLLOSFG>>MQHOSOSIHKQLLGKPSFKQ@PLPSPGLRNLQHPLP JO@K8S RIIRKRS JRFOIQLPLOS HONLRILGPMERNLR PMMPSJQH3QPKPCQONRSJRMSNOEQNPLQ@OSJRMMPSFRK< IONPDSJPSRBBRLLGPKIQSNRMSLRKEQNRSJQSHGQSPMM=PKL? + 'DSHOEEPS1DSH?F?H?%DSFKRIRNLPNJOSFKRIIO MPS0PNHRMMRKQPSJRMMRS5IRHGCQONQS;EEO>QMQPKQD JQH3QPKPCQONRDSQNSKRAOMPSHONSQMS>OMMODSHONLR< NRNLRDSPSFRNPSJQSQNRBBQHPHQPDSM$QNJQHPCQONRSJRM NGERKOSJQSK?A?R?SJRMMPSFKOHRJGKPDSJRMS>RNRS R JRMSMOLLO%SHGQSM=OBBRKLPSIQSKQBRKQIHRDSJRMSFKRCCOD JRMSLREFODSJRMSEOJOSJRMSFPAPERNLOSRSJQSOANQ PMLKOS RMRERNLOS GLQMRS PMMPS @PMGLPQONRS JRMM$OB< BRKLP9 JRLLPS JQH3QPKPCQONRS JR@RDS PMLKRI DS KRHPKRS MR ARNRKPMQL8S JRMM=OBBRKRNLRS NOERDS HOANOERD MGOAOSRSJPLPSJQSNPIHQLPDSHOJQHRSBQIHPMRDSKRIQ< JRNCP JOEQHQMQODSILPLOSHQ@QMRSRDSIRSHONQGAPLOD KRAQERSFPLKQEONQPMRSBKPSQSHONQGAQ9SQNSHPIOSJQ HOEGNQONRS MRAPMRS JRQS >RNQDS OHHOKKRK8S QNJQ< HPKRSPNH3RSMRSARNRKPMQL8SJRMSHONQGARSNONSOB< BRKRNLRDSPMSBQNRSJQSFOLRKSLKPIBRKQKRSPJSRNLKPE>QD FKOS4GOLPDSQMS>RNRDSQNSHPIOSJQSPAAQGJQHPCQONR9 NRMM=QFOLRIQSJQSPH4GQILOSPSLQLOMOSFRKIONPMRSJP FPKLRSJQSGNSHONQGARSQNSKRAQERSJQSHOEGNQONR JRQS>RNQDSOHHOKKRSFKOJGKKRDSOMLKRSPMMPSJQH3QP< KPCQONRSJQS4GRIL=GMLQEODSR SPKL?S1* DSHOEEP 1DSMRLL?SBDSHOJ?SHQ@?DS4GRMMPSJRMSHONQGARSNONSPH< 4GQKRNLRSJQSHGQSPMSIRHONJOSHOEEPSJRMMPSER< JRIQEPSJQIFOIQCQONRSNOKEPLQ@P%DSM=RIFKRIIP JQH3QPKPCQONRSJQSP@RKSFKRIOS@QIQONRSJRMMPSFR< KQCQPSJQSILQEPSRJSRIIRKRSHOKKRJPLPSJPSHOFQPSJQ @PMQJOSJOHGERNLOSJQSQJRNLQL8SJRMM=OBBRKRNLRSRD IRS NRHRIIPKQODS JPS @PMQJPS JOHGERNLPCQONR HOEFKO@PNLRSQSFOLRKQSOSMPSMRAQLLQEPCQONRSJRMMO ILRIIOS PJSRI?SFKOHGKPSIFRHQPMRSOSHRKLQBQHPLO HPERKPMRSQNSHPIOSJQSIOHQRL8%9 M=OBBRKLPDSNRMSHPIOSJQSFKRIRNLPCQONRSJPSFPKLR JQS GNS EQNOKRNNRDS JO@K8S RIIRKRS IOLLOIHKQLLP JPQSARNQLOKQDSFKR@QPSPGLOKQCCPCQONRSJRMSAQGJQHR LGLRMPKRDSJPSPMMRAPKRSQNSHOFQPSHONBOKER9 QNSHPIOSJQSJQH3QPKPCQONRSFKRIRNLPLPSHONAQGN< LPERNLRSJPSFQ SIOAARLLQDSJR@RSRIIRKRSQNJQHPLO HOMGQSH3RSP>>QPSM=RIHMGIQ@PSBPHOML8SJQSBOKEG< MPKRSR@RNLGPMQSOBBRKLRSQNSPGERNLO9 NONSIPK8SFOIIQ>QMRSLKPIBRKQKRSM=QEEO>QMRSPSIOA< ARLLOSJQ@RKIOSJPS4GRMMOSH3RSIOLLOIHKQ@RSM=OB< BRKLP9 M=OBBRKLPS#SQKKR@OHP>QMRDSIPM@OSH3R S1?SQMSAQGJQHR OKJQNQSM=QNHPNLO9S-?SIQPNOSJRHOKIQSHRNLO@RNLQ AQOKNQS JPMMPS IGPS FKRIRNLPCQONRS RS MPS ILRIIP NONSIQPSILPLPSPHHOMLP9 M$OBBRKLPSNONS#SRBBQHPHR S1%SIRSFRK@QRNRSOMLKRSQM LRKEQNRSILP>QMQLO9S-%SIRS#SQNBRKQOKRSPMSFKRCCO JRLRKEQNPLOSPSNOKEPSJRMM$PKLQHOMOS+ SRSFQ IOFKPSKQHOKJPLO9SH%SIRSM$OBBRKRNLRSNONSFKRILP HPGCQONRDSPSERCCOSJQSPIIRANOSHQKHOMPKRSNON LKPIBRKQ>QMRSQNLRILPLOSPS "OILRS;LPMQPNRSIFP DSQN EQIGKPSNONSQNBRKQOKRSPMSJRHQEOSJRMSFKRCCOSJP MGQSFKOFOILO9 PMM=OBBRKLPDS JPS JRFOIQLPKIQS QNS >GILPS H3QGIPD IRNCPSIRANQSJQSKQHONOIHQERNLODSJR@RSRIIRKR PMMRAPLOSM=PIIRANOSHQKHOMPKRSFRKSMPSHPGCQONRD HOERSQNNPNCQSQNJQHPLO9SPMM$RILRKNOSJRMMPS>GILP @PNNOSPNNOLPLQDSPSHGKPSJRMSHPNHRMMQRKRSKQHR< @RNLRDSQMSNOERDSFKR@QPSQJRNLQBQHPCQONRDSJQSH3Q EPLRKQPMERNLRSFKO@@RJRSPMSJRFOIQLODSQMSNOER JRMS AQGJQHRS JRMM$RIRHGCQONRS RS MPS JPLPS JRM< M$GJQRNCPSBQIIPLPSFRKSM$RIPERSJRMMRSOBBRKLR9SMR >GILRSIPKPNNOSPFRKLRSPMM$GJQRNCPSBQIIPLPSFRK M$RIPERSJRMMRSOBBRKLRDSPMMPSFKRIRNCPSJRAMQSOB< BRKRNLQDSO@RSHOEFPKIQ9 NRMSHPIOSJQSEPNHPLPSHOEFPKQCQONRSJRMM=OBBR< KRNLRSOSJRAMQSOBBRKRNLQSM=PAAQGJQHPCQONRSIPK8 HOEGN4GRSJQIFOILPDSBPLLPSIPM@PSM=PFFMQHPCQONR
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
, / /P#01 3P71-31*/AP#73P 3,/ 3P !7P#7P 3--73P, / /P-/1P71-31*/ ?INP NBBL:NINP >OK?LKLP DLGJNP NKP >OKFNJMP KOIIL GJMJLPFNP=MJJLPOPFNPFNHNJJLPNKPECNPGNPJHL>MKLAPELG
ELBOP NFOKJN=NEMJNAP FOGEHNJJNP OP >MICJMJNP FMI; I9OGDOHJLPKOIIMPHOIM@NLKOAPELKPL?KNPO>OKJCMIO GOH>NJ PMJJN>MPOPDMGGN>MPNKOHOKJOPOP5CLJOPELK; FLBNKNMINPHOIMJN>O6 IMP>OKFNJMP(PMPELHDLPOPKLKPMPBNGCHM6PO>OKJCMIN FN==OHOK@OPFNPBNGCHMPKLKPDLJHMKKLPFMHPICL?L MFPMIECKPHNGMHENBOKJLAPNKFOKKNJ8PLPHNFC@NLKO FOIPDHO@@L6PIMP>OKFNJMP=LH@MJMPKLKP(PGL??OJJM MIIOPKLHBOPELKEOHKOKJNPIMP?MHMK@NMPDOHP>N@NPL BMKEMK@MPFNP5CMINJ8APK PDLJH8POGGOHOPHO>L; EMJMPDOHPMIECKPBLJN>L<P -LKGO?COKJOBOKJOPI9OGNGJOK@MPFNPO>OKJCMIN >N@NAP BMKEMK@MP FNP 5CMINJ8P LP FN==LHBNJ8P FOIIM ELGMP>OKFCJMAPLKOHNPFNP5CMIGNMGNP?OKOHOP;PN>N ELBDHOGNAPMFPOGOBDNLAP5COIINPCH:MKNGJNENPL>; >OHLP FOHN>MKJNP FMIIMP O>OKJCMIOP KOEOGGNJ8P FN MFO?CMBOKJLP FNP NBDNMKJNP MIIOP IO??NP >N?OKJNA GDOGOPELKFLBNKNMINPFOII9MKKLPNKPELHGLPOPFOI; I9MKKLPDHOEOFOKJOPPKLKPDM?MJOPFMIPFO:NJLHOP; DOHP5CMIGNMGNPBLJN>LPKLKPELKGNFOHMJNAPMKE4O GOPLEECIJNPOPELBCK5COPKLKPO>NFOK@NMJNPNKPDO; HN@NMAPKLKPPDLJHMKKLPFMHPICL?LPMFPMIECKPHNGMH; ENBOKJLAP NKFOKKNJ8P LP HNFC@NLKOP FOIP DHO@@LA OGGOKFLGNPFNPEN PJOKCJLPELKJLPKOIIMP>MICJM; @NLKOPFONP:OKN6 I9M??NCFNEMJMHNLPFL>H8P>OHGMHOPIMPFN==OHOK@M FOIPDHO@@LP FOJHMJJMPFMIPDHO@@LPFNPM??NCFNEM; @NLKOPIMPEMC@NLKOPFNPECNPGLDHM POKJHLPCKPJOH; BNKOPBMGGNBLPFNPGOGGMKJMP?NLHKNPFMIIMPFMJM FNPM??NCFNEM@NLKOPBOFNMKJOPMGGO?KLPENHEL; IMHOPKLKPJHMG=OHN:NIOPNKJOGJMJLPMP LGJOP7JMINMKO G<D<M< P 5CMILHMPNIPDHLEOFNBOKJLPGNP=LKFNPGC EHOFNJLP =LKFNMHNLP OP I9M??NCFNEMJMHNLP KLKP NK; JOKFMPM>>MIOHGNPFOIIMP=MELIJ8PFNPGC:OKJHMHOPKOI ELKJHMJJLAP MII9MGGO?KLP ENHELIMHOP GMH8P GLGJN; JCNJLAPO PMHJ<P 2APELBBMP AP&<,?G<P2PGOJJOB; :HOP 2%%)AP K<P )".AP NIP DM?MBOKJLP FNHOJJLP MIIM :MKEMPEHOFNJHNEOAPKONPINBNJNPFOIPEHOFNJLPM@NLKMJL DOHPEMDNJMIOAPNKJOHOGGNPOPGDOGOPELKPELIILEM; @NLKOPDHN>NIO?NMJMAPOKJHLPILPGJOGGLPJOHBNKOPO FOJHMJJLPCKPMEEMKJLKMBOKJLPDOHPGDOGOPKOIIM BNGCHMPE4OPGMH8PNKFNEMJMPFMIP?<O< 6PNKPBMK; EMK@MAP GNP DHL>>OFOH8P MP FNE4NMHMHOP IMP FOEM; FOK@MPFMII9M??NCFNEM@NLKOAPMPKLHBMPFOII9MHJ< ."$PE<D<E<6 GLIJMKJLP MII9OGNJLP FO?INP MFOBDNBOKJNP DHOEO; FOKJNAPFOIIMPDHLFC@NLKOPFNPM??NLHKMJNPEOHJN=NEMJN EMJMGJMINPOPFNPM??NLHKMJNPEOHJN=NEMJNPHOIMJN>NPMIIO NGEHN@NLKNP OP JHMGEHN@NLKNP O==OJJCMJOP GCIP :OKO KLKE4 PFOIPDM?MBOKJLPFOIIOPGDOGOPFNPJHMG=O; HNBOKJLAP FMP O==OJJCMHGNP ELKJOGJCMIBOKJOP M 5COIILPFOIIMPFN==OHOK@MPFOIPDHO@@LPFNPM??NCFN; EM@NLKOAP KOIIMP BNGCHMP FOIP '+ P FNP 5COGJ9CI; JNBLAPGMH8POBOGGLPNIPFOEHOJLPFNPJHMG=OHNBOKJLA MNPGOKGNPFOII9MHJ<P." PE<D<E<6 ,MBO@NMP*OHBOAPI P2)PMDHNIOP'+2' 27 $/%53/60537 5$&5%56053 3!!7#/P&7P!01&7*3P&7P 017P7 / 7,7 7KPFMKKLPFNP+03.-7/0-' 7 - - -)7 #7P 01&0P1/*/ E4OPNIP?NLHKLP'*-* -'*!'7622473047* * KOIIM GMIMPFOIIOPDC::INE4OPCFNOK@OPFNP5COGJLP*HN:C; KMIOAPM>MKJNPMIP <0<APGNPDHLEOFOH8PMIIMP>OKFNJM MII9NKEMKJLPFONP:OKNPNBBL:NINPOIOKEMJNPNKPEMIEOA MIIOPGO?COKJNPELKFN@NLKN P
7 *-***)** 0IOKELP:OKNPNBBL:NIN $3167+60147+605762267,41 7&42 23.6247,6 6%%5/375/7 6,4%567 40,47 6, "56(47 567 47 &57 $ 2567 6/ 3237 567 6+6 042237 6 4/147 $/67 ($+40 5.547 /41167 &57 , !*!7.50.67.3/7042615 6760467&57+4015/4/%6 (.3+40167 6 4/147 $/67 ($+40 5.547 &57 , !) *7 611$62,4/147 &4(15/6137 6&7 6115 51 .3,,40.5624)705+30161375/7 7&427+04 &41137 3,$/47 627 3 2537 &57 ,6++67 /- #) +601-2267 ##7($"7#7042615 6,4/147627,6 6% %5/3747($"7! 7042615 6,4/147622 6115/4/%6 (.3+4016 (P=NGGMJLAPDOHPIMPDHOGOKJM@NLKOPDHOGGLPIMP-MK; EOIIOHNMP FOIIOP 0GOEC@NLKNP 7BBL:NINMHNP FOIIO NGJMK@OPFNPDMHJOENDM@NLKOPMIIMP>OKFNJMPMNPDC:; :INENPNKEMKJNPFOIPELBDOKFNLPNBBL:NINMHOPGLDHM NKFNEMJLP OP BO?INLP FOGEHNJJLP KOIIMP HOIM@NLKO FOII9OGDOHJLPNKPMJJNAPMIIMP5CMIOPGNP=MPOGDHOGGL HNE4NMBLAP 5CMIOP DMHJOP NKJO?HMKJOP OP GLGJMK; @NMIOPFOIIMPDHOGOKJOPLHFNKMK@MAPJOHBNKOP=NKL MIIOPLHOP2)<++PFOIP2%<+ <'+2'PELKPIOPBLFMINJ8 OPDOHPNIPDHO@@LPBNKNBLPFNPECNPGLDHM6 L?KCKLAP MNP GOKGNP FOII9MHJ<P .$%AP ELBBMP 2A E<D<E<APJHMKKOPNIPFO:NJLHOAP(PMBBOGGLPMP=LHBC; IMHOP L==OHJOP MII9NKEMKJLP DOHGLKMIBOKJOAP M BO@@LPFNPBMKFMJMHNLPBCKNJLPFNPDHLECHMPGDO; ENMIOPLPFNPDHLECHMJLHOPIO?MIOAPMKE4OPMPKLHBM FOII9MHJ<P.$%APELBBMP)APE<D<E<P NIPDHLECHMJLHO IO?MIOPFL>H8APNKPL?KNPEMGLAPOGGOHOPBCKNJLPFN BMKFMJLPGDOENMIOPHNGCIJMKJOPFMPMJJLPDC::INEL LPGEHNJJCHMPDHN>MJMPMCJOKJNEMJMAPKLKPOGGOKFL GC==NENOKJOP I9LHFNKMHNLP BMKFMJLP MIIOP INJN6P KOI;
I9NDLJOGNPFNPECNPMIPENJMJLPMHJ<P.$%APELBBMP)APNI BMKFMJLPGDOENMIOPHNGCIJMKJOPFMPMJJLPDC::INEL LPGEHNJJCHMPDHN>MJMPMCJOKJNEMJMPFL>H8POGGOHO FODLGNJMJLP ELKJOGJCMIBOKJOP MIIMP FNE4NMHM; @NLKOPFOIPKLBNKMJN>LPFOIIMPDOHGLKMAPFMPO==OJ; JCMHGNPKOIPJOHBNKOPFNPECNPMII9MHJ<P.")APELBBM 2APE<D<E< L?KNPELKELHHOKJOAPDOHPOGGOHOPMBBOGGLPMII9NK; EMKJLAPFO>OPDHOGOKJMHOPNGJMK@MPFNPDMHJOENDM; @NLKOAPNKPHO?LIMPELKPNIP:LIILAPHOEMKJOAPMPDOKM FNP NKO==NEMENMAP I NKFNEM@NLKOP FOIP KCBOHLP FN H<?<O<P FOIIMP DHLEOFCHMAP NIP :OKOP LP NIP ILJJLP ECN I9NGJMK@MPGJOGGMP(PHN=OHNJMAPNIPDHO@@LPDHLDLGJLA IOPDHLDHNOP?OKOHMINJ8P KLBOAPEL?KLBOAPICL?L OP FMJMP FNP KMGENJMAP ELFNEOP =NGEMIOA HOGNFOK@M FLBNENINLAPGJMJLPEN>NIOPOAPGOPELKNC; ?MJLAPHO?NBOPDMJHNBLKNMIOP=HMPNPELKNC?N6 NKPEMGLPFNPELBCKNLKOPIO?MIOPFONP:OKNAPLEELH; HOH8PNKFNEMHOPMKE4OPIOP?OKOHMINJ8PFOIPELKNC?O KLKPL==OHOKJOAPMIP=NKOPFNPDLJOHPJHMG=OHNHOPMFPOK; JHMB:NAPDHLP5CLJMAPNIP:OKOAPNKPEMGLPFNPM??NCFN; EM@NLKO6P KOII9NDLJOGNP FNP ME5CNGJLP MP JNJLIL DOHGLKMIOPFMPDMHJOPFNPCKPELKNC?OPNKPHO?NBO FNP ELBCKNLKOP FONP :OKNAP LEELHHOP DHLFCHHOA LIJHOPMIIMPFNE4NMHM@NLKOPFNP5COGJ9CIJNBLAPO PMHJ< 2$%APELBBMP2APIOJJ<P=APELF<PEN><AP5COIIMPFOIPEL; KNC?OP KLKP ME5CNHOKJOP FNP ECNP MIP GOELKFL ELBBMPFOIIMPBOFOGNBMPFNGDLGN@NLKOPKLHBM; JN>M API9OGDHOGGMPFNE4NMHM@NLKOPFNPM>OHPDHOGL >NGNLKOPFOIIMPDOHN@NMPFNPGJNBM6 I9NGJMK@MAPKOIPEMGLPFNPDHOGOKJM@NLKOPFMPDMHJO FNP CKP BNKLHOKKOAP FL>H8P OGGOHOP GLJJLGEHNJJM FMNP?OKNJLHNAPDHO>NMPMCJLHN@@M@NLKOPFOIP?NCFNEO JCJOIMHOAPFMPFODLGNJMHOPNKPELDNMPELK=LHBO6 NKPEMGLPFNPNGJMK@MPDHOGOKJMJMPELK?NCKJMBOKJO FMPDN PGL??OJJNAPFO>OPOGGOHOPNKFNEMJLPELICN E4OP M::NMP I9OGEICGN>MP =MELIJ8P FNP =LHBCIMHO O>OKJCMINPL==OHJOPNKPMCBOKJL6 KLKPGMH8PDLGGN:NIOPJHMG=OHNHOPI9NBBL:NIOPMPGL?; ?OJJLP FN>OHGLP FMP 5COIILP E4OP GLJJLGEHN>O I9NGJMK@M6 MII9NGJMK@MPFNPDMHJOENDM@NLKOPFO>OPOGGOHOPMI; IO?MJMPELDNMPFNP>MINFLPFLECBOKJLPFNPNFOKJNJ8 FOIPELKELHHOKJOPOAPGOPKOEOGGMHNLAP>MINFMPFL; ECBOKJM@NLKOPELBDHL>MKJOPNPDLJOHNPLPIMPIO?NJ; JNBM@NLKOP FOIILP GJOGGLP MFP OG<P DHLECHM GDOENMIOPLPEOHJN=NEMJLPEMBOHMIOPNKPEMGLPFNPGL; ENOJ8 6 ELKPI9NGJMK@MPFNPDMHJOENDM@NLKOAPFMPDHOGOK; JMHGNPNKP:CGJMPE4NCGMAPGOK@MPGO?KNPFNPHNELKL; GENBOKJLAPFO>OPOGGOHOPFODLGNJMJLPMGGO?KL ENHELIMHOPKLKPJHMG=OHN:NIOAPNKJOGJMJLPMIIOP LGJO 7JMINMKOPG<D<M< APJHMBNJOPECNPO==OJJCMHOPNIP>OHGM; BOKJLPFOIIMPEMC@NLKOP OFPNKPELKJLPDHO@@LPFN M??NCFNEM@NLKO APNKPHM?NLKOPFNPCKPFOENBLPFOI DHO@@LP:MGOPF9MGJM6 MII OGJOHKLPFOIIMP:CGJMP>MKKLPMKKLJMJNAPMPECHM FOIP EMKEOIINOHOP HNEO>OKJOAP NIP KLBOAP DHO>NM NFOKJN=NEM@NLKOAP FNP E4NP BMJOHNMIBOKJOP DHL>; >OFOPMIPFODLGNJLAPNIPKLBOPFOIP?NCFNEOPFOII OGO; EC@NLKOPOPIMPFMJMPFOII CFNOK@MP=NGGMJMPDOHPIM >OKFNJMPMII9NKEMKJL6 MPKLHBMPFOII9MHJ<P." PE<D<E<APNK=MJJNAPM>>OKCJL I9NKEMKJLAPDLGGLKLPOGGOHOPDHOGOKJMJOPL==OHJO FNPME5CNGJLPOKJHLPNIPJOHBNKOPDOHOKJLHNLPFNPFNOEN ?NLHKNPFMIIMP?MHMAPBMPOGGOPKLKPGLKLPO==NEMEN GOPNIPDHO@@LPL==OHJLPKLKPGCDOHMPFNP2 P5COIIL HM??NCKJLPKOII9NKEMKJL6PI9M??NCFNEM@NLKOAPDOH; JMKJLAP FN>OHH8P FO=NKNJN>MP L>OAP FOELHGNP FNOEN ?NLHKNAPKLKPGNMKLPGJMJOPDHOGOKJMJOPL==OHJOPNK MCBOKJL6 NKPL?KNPEMGLAPIOPGDOGOPFOIPJHMG=OHNBOKJLPEO; FLKLPMPEMHNELPFOII9M??NCFNEMJMHNLAPECNPHOGJMKL HNGOH>MJOPIOPMJJN>NJ8POFPNPELGJNPDOHPIMPHO?NGJHM; @NLKOPOPJHMGEHN@NLKOPFOIPFOEHOJLPKLKE4 PDOH IMPEMKEOIIM@NLKOPFOIIOP=LHBMINJ8PDHO?NCFN@NO; >LINP?HM>MKJNPGC?INPNBBL:NINPME5CNGJMJN6 IOPL==OHJOPNKPMCBOKJLAPMPDOKMPFNPNKMBBNGGN:N; INJ8AP KLKP FO>LKLP OGGOHOP NK=OHNLHNP MIP ) P FOI DHO@@LP:MGO6 (PDLGGN:NIOAPDOHPNPDMHJOENDMKJNPMIIOPMGJOAPLJJO; KOHOPBCJCNPMPJMGGNPOPELKFN@NLKNPOELKLBNE4O DHOGJM:NINJNPFMPL?KNPGNK?LIMP:MKEMPMFOHOKJO DHLJLELIILP 3 7 PDOHPIMPELKEOGGNLKOPFNPBCJCN M?INPM??NCFNEMJMHN6PI9OIOKELPFOIIOP:MKE4OPMFO; HOKJNPMII9NKN@NMJN>MPDOHPNIP*HN:CKMIOPFNP,MBO@NM *OHBOP(PHODOHN:NIOPDHOGGLPIMP-MKEOIIOHNM6P ?INPNBBL:NINP>OK?LKLPDLGJNPNKP>OKFNJMPPKOIIL GJMJLPFNP=MJJLPOPFNPFNHNJJLPNKPECNPGNPJHL>MKLAPELG
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
ILJJLPK<2 P 7'#-*' )
ILJJLPK<' P 7' -##*) 0IOKELP:OKNPNBBL:NINP 5,,3"5247 +407 .5 5247 6"516%53/4 (5137 5/7 6,4%567 40,4)7 23.6251 7 5/4+05) .3/7($+40 5.547.3,,40.56247&57 7, )7705 +3016137627 7&57 6,4%567 40,47627 3 2537' )7+601-2267! #7($"7# )7.617 )7 6/5 ) )7+3(137/427.30+37&57 6""05.67! )7+56/3 0562%6137(.6267 )75/140/37# 5,,3"52476&5"513767.5 52476"516 %53/47(51375/7 6,4%567 40,4723.-7 5/4+05) .3/7($+7.3,,40.56247&57, 7 ')!*)7+3(13 /427.30+37&57 6""05.67! )7+56/370562%613 &42267(.6247 )75/1-7 )7&5(15/137627 7 3 2537' 7+601-2267! #7($"7# 7.617 7.26((47# .3/(5(14/%67') 7 6/5(P=NGGMJLAPDOHPIMPDHOGOKJM@NLKOPDHOGGLPIMP-MK; EOIIOHNMP FOIIOP 0GOEC@NLKNP 7BBL:NINMHNP FOIIO NGJMK@OPFNPDMHJOENDM@NLKOPMIIMP>OKFNJMPMNPDC:; :INENPNKEMKJNPFOIPELBDOKFNLPNBBL:NINMHOPGLDHM NKFNEMJLP OP BO?INLP FOGEHNJJLP KOIIMP HOIM@NLKO FOII9OGDOHJLPNKPMJJNAPMIIMP5CMIOPGNP=MPOGDHOGGL HNE4NMBLAP 5CMIOP DMHJOP NKJO?HMKJOP OP GLGJMK; @NMIOPFOIIMPDHOGOKJOPLHFNKMK@MAPJOHBNKOP=NKL MIIOPLHOP2)<++PFOIP2%<+ <'+2'APELKPIOPBLFM; INJ8POPDOHPNIPDHO@@LPBNKNBLPFNPECNPGLDHM IOPL==OHJOPNKPMCBOKJLAPMPDOKMPFNPNKMBBNGGN:N; INJ8AP KLKP FO>LKLP OGGOHOP NK=OHNLHNP MIP ) P FOI DHO@@LP:MGOPF9MGJM6P L?KCKLAP MNP GOKGNP FOII9MHJ<P .$%AP ELBBMP 2A E<D<E<APJHMKKOPNIPFO:NJLHOAP(PMBBOGGLPMP=LHBC; IMHOP L==OHJOP MII9NKEMKJLP DOHGLKMIBOKJOAP M BO@@LPFNPBMKFMJMHNLPBCKNJLPFNPDHLECHMPGDO; ENMIOPLPFNPDHLECHMJLHOPIO?MIOAPMKE4OPMPKLHBM FOII9MHJ<P.$%APELBBMP)APE<D<E<P NIPDHLECHMJLHO IO?MIOPFL>H8APNKPL?KNPEMGLAPOGGOHOPBCKNJLPFN BMKFMJLPGDOENMIOPHNGCIJMKJOPFMPMJJLPDC::INEL LPGEHNJJCHMPDHN>MJMPMCJOKJNEMJMAPKLKPOGGOKFL GC==NENOKJOP I9LHFNKMHNLP BMKFMJLP MIIOP INJN6P KOI; I9NDLJOGNPFNPECNPMIPENJMJLPMHJ<P.$%APELBBMP)APNI BMKFMJLPGDOENMIOPHNGCIJMKJOPFMPMJJLPDC::INEL LPGEHNJJCHMPDHN>MJMPMCJOKJNEMJMPFL>H8POGGOHO FODLGNJMJLP ELKJOGJCMIBOKJOP MIIMP FNE4NMHM; @NLKOPFOIPKLBNKMJN>LPFOIIMPDOHGLKMAPFMPO==OJ; JCMHGNPKOIPJOHBNKOPFNPECNPMII9MHJ<P.")APELBBM 2APE<D<E< L?KNPELKELHHOKJOAPDOHPOGGOHOPMBBOGGLPMII9NK; EMKJLAPFO>OPDHOGOKJMHOPNGJMK@MPFNPDMHJOENDM; @NLKOAPNKPHO?LIMPELKPNIP:LIILAPHOEMKJOAPMPDOKM FNP NKO==NEMENMAP I NKFNEM@NLKOP FOIP KCBOHLP FN H<?<O<P FOIIMP DHLEOFCHMAP NIP :OKOP LP NIP ILJJLP ECN I9NGJMK@MPGJOGGMP(PHN=OHNJMAPNIPDHO@@LPDHLDLGJLA IOPDHLDHNOP?OKOHMINJ8P KLBOAPEL?KLBOAPICL?L OP FMJMP FNP KMGENJMAP ELFNEOP =NGEMIOA HOGNFOK@M FLBNENINLAPGJMJLPEN>NIOPOAPGOPELKNC; ?MJLAP HO?NBOP DMJHNBLKNMIOP =HMP NP ELKNC?N6P NK EMGLPFNPELBCKNLKOPIO?MIOPFONP:OKNAPLEELHHOH8
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
ENHOBGN>>K5OHLO=NJEMILO<KG>LILOJKJO'OFK@@NIIL LHHNOJKGANODKJDNGJNJIMOHLO@LGLJ>MLOBNGO=M>MOK ALJDLJ>LOEMO6CLHMI7?OJ OBKIG7ONFFNGNOGN=K: DLILOBNGOLHDCJOAKIM=K;O KJFN@CNJINANJINOH9NFMFINJ>LOEMON=NJICLHM =M>M?O ALJDLJ>LO EMO 6CLHMI7O KO EM<<KGAMI7O ENHHL DKFLO=NJECIL?OKJNGMOEMO6CLHFMLFMO@NJNGNO:OM=M DKABGNFM?OLEONFNABMK?O6CNHHMOCG8LJMFIMDMOK=: =NGKO ENGM=LJIMO ELHHLO N=NJICLHNO JNDNFFMI7O EM LEN@CLANJIKO EMO MABMLJIMO LHHNO HN@@MO =M@NJIM? FBNFNODKJEKAMJMLHMOENHH9LJJKOMJODKGFKONOENH: H9LJJKOBGNDNENJINOOJKJOBL@LINOELHOEN8MIKGNO: BNGO6CLHFMLFMOAKIM=KOJKJODKJFMENGLIM?OLJD4N FNOKDDCHIMONODKACJ6CNOJKJON=MENJ>MLIMOMJOBN: GM>ML?OJKJOOBKIGLJJKOELGOHCK@KOLEOLHDCJOGMFLG: DMANJIK?O MJENJJMI7O KO GMEC>MKJNO ENHO BGN>>K? NFFNJEKFMOEMODM OINJCIKODKJIKOJNHHLO=LHCIL: >MKJNOENMO8NJM5 H9L@@MCEMDLILGMKOEK=G7O=NGFLGNOHLOEM<<NGNJ>L ENHOBGN>>KO)ENIGLIILOELHOBGN>>KOEMOL@@MCEMDL: >MKJNOHLODLC>MKJNOEMODCMOFKBGL+ONJIGKOCJOING: AMJNOALFFMAKOEMOFNFFLJILO@MKGJMOELHHLOELIL EMOL@@MCEMDL>MKJNOANEMLJINOLFFN@JKODMGDK: HLGNOJKJOIGLF<NGM8MHNOMJINFILIKOLO !KFINO3ILHMLJN F;B;L; O)6CLHKGLOMHOBGKDNEMANJIKOFMO<KJEMOFC DGNEMIKO <KJEMLGMKO NO H9L@@MCEMDLILGMKO JKJO MJ: INJELOL==LHNGFMOENHHLO<LDKHI7OEMOFC8NJIGLGNOJNH DKJIGLIIK?O LHH9LFFN@JKO DMGDKHLGNO FLG7O FKFIM: ICMIK?ON OLGI;O"2?ODKAALO"?O#;(@F;O2OFNIINA: 8GNO 2-- ?O J;O *0?O MHO BL@LANJIKO EMGNIIKO LHHL 8LJDLODGNEMIGMDN?OJNMOHMAMIMOENHODGNEMIKOL>MKJLIK BNGODLBMILHN?OMJINGNFFMONOFBNFNODKJODKHHKDL: >MKJNOBGM=MHN@MLIL?ONJIGKOHKOFINFFKOINGAMJNON ENIGLIIKOCJOLDDLJIKJLANJIKOBNGOFBNFNOJNHHL AMFCGLOD4NOFLG7OMJEMDLILOELHO@;N;+5OMJOALJ: DLJ>L?O FMO BGK==NENG7O LO EMD4MLGLGNO HLO ENDL: ENJ>LOELHH9L@@MCEMDL>MKJN?OLOJKGALOENHH9LGI; 0* OD;B;D;5 FKHILJIKO LHH9NFMIKO EN@HMO LENABMANJIMO BGNDN: ENJIM?OENHHLOBGKEC>MKJNOEMOL@@MKGJLIMODNGIM<MDLIM DLILFILHMONOEMOL@@MKGJLIMODNGIM<MDLIMOGNHLIM=MOLHHN MFDGM>MKJMO NO IGLFDGM>MKJMO N<<NIICLINO FCHO 8NJN JKJD4 OENHOBL@LANJIKOENHHNOFBNFNOEMOIGLF<N: GMANJIK?O ELO N<<NIICLGFMO DKJINFICLHANJINO L 6CNHHKOENHHLOEM<<NGNJ>LOENHOBGN>>KOEMOL@@MCEM: DL>MKJN?O JNHHLO AMFCGLO ENHO $ O EMO 6CNFI9CH: IMAK?OFLG7ONANFFKOMHOENDGNIKOEMOIGLF<NGMANJIK? LMOFNJFMOENHH9LGI;O0* OD;B;D;5 8C.. 0%%0C @18C 48C 778 /%%3 ,O#3O%1&#3./ MHOBGK<NFFMKJMFILOENHN@LIKO&,./3,O
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
"( & @3=?C08$6"5.6 )NCGKOAMHHN: DMJ6CNDNJIKFNIINO=MG@KHLO6CLGLJIL+ " C0$65". )NCGKODNJIKDMJ6CLJIL =MG@KHLOFNIILJIL6CLIIGK+ "( " C"$5+"C)NCGKOFNIILJIL: DMJ6CNO=MG@KHLOIGNJILFNIIN+ " "( ! ;C>@==A>?=A?C9@<C ?73;@C9AC ?) :@=BC !@=A;@4@C C B<<BC <?:B<A> C @==B ,?;9?C=34>A:?C9@<<BC432@=,A:A@C:B>B4>B<@C9A B=@C$"8$$5CBC1AB:A>3=BC7@9AB7@;>@C9@:<A#@ @9C C=B11A3;1A&A<@C7@9AB;>@C3;BC4>=B9BC#A) :A;B<@CA;C>@==B8C ;C4>B>?C9ACB&&B;9?;?5C:?;
4>@79BC=>C8;>(?C=>CB9 C6?24AB5@C9A@C>C0/CBC> +/C@77>< B99?C&?7=?C C6B75>9?C@;C$< <C=B;;?C59B55? $?287BC 58;C &?.;>?C =>C 2@44@C 7<C 0C 4@A9>% 6B;;@ --*C B C1*1 4@A9BCBC4A>2@C#/ 4@A9B :C8;>(B9? 6;<1":C @ABC ,+<,,:C AB==<C =?2<C 8A?C -3:13: AB==<C@.A<CB8A?C1/:'3< B8A?C3,<'*3:+1 6PEJMQ;EOK? GOFOBOINMLLMFPKLMHPHHNKLEKMQCOJAMINQHPLLNK? LNGEP5
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
9@ABC@;;@C6>A6?59@7 @C6 BC;@C4@A9>6B;;@C-13 C>76;85@C7B;C >@7?C=>CB54A?4A>? CAB=@99? =@;; ! ! C 4BAC ; @22?=BA7@2B79?C =B;% ; !89?59A@=@C !% $< B8A?C3/<1+':10 6PEJMQGOPFO? BOINGEPFPKLMHPLLNKLMLLMQCOJAMINQCPKLO;ENLLJM5
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
C1<0+*:## 6PEJMQGEPBOIN;ENLLJM? FPKLMHPLLNKLNHPOQCOJAMINQKMCNKLNKMCP5 C3<1-':,/ 6PEJMQBOIIP? GEPFPKLMLJPKLMLLMQCOJAMINQFOK;ENKLN5 7C 9BAA>9?A>?C =B;C $?287BC => ?6BA@C BA>7B5BC $ C@;;@C;?6@;>9 C $898A@% B59A? C&?7=?CA859>6?C=B;;@C584BA&>6>BC=> @C3<,1<#/:C6?7C.>@6>98A@C=B6;>(B:C>7C59@9?
= @))@7=?7?CB=C CA@..>87.>)>;BC2B=>@79B 87@C 59A@=@C >7C 9BAA@C @66B55>)>;BC =@;;@ 59A@=@C(>6>7@;BC=B7?2>7@9@C BAA@9@< $B75>9?C@;C$< <C=B;;?C59B55?C$?287BC58; &?.;>?C=>C2@44@C7<C31C6?7C;@C4@A9>6B;;@ 0-:C4?A <C!!:C8;>(B9?C6;<3":C@ABC+-<//:CAB==< =?2<CB8A?C,1:+':CAB==<C@.A<CB8A?C1':1' C 4?A <! :C 4@56?;?C @A)<C 6;<1":C @ABC +#<#/: AB==<C =?2<C B8A?C 31:-':C AB==<C @.A<C B8A? 0:#,< B8A?C10<*03:+, 6PEJMQCPK? LO;ENLLJMBOINHPOFPKLM;ENJNKLEKMQCOJAMINQHPL? LNKLNFOK;EP5
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
>>OFOMQPGPFEAOMLOQOCCM;OJONIO 5JQ(OEHOFPQHPJJ:PGPFEAOMLPBQ 6NQDIMLELFONKMQJNQGP@EPLKP . &5434 3 4PJQ25<481;,8:9<>:0>.) .33/> 0 0> DPLHPLKPQKINQ NLFMQHOQ4NDMJO IN??OGNKPQJPQFMLHOAOMLOQDPIQDIMFPHPIPQ NJJNQ?PLHOKNQFMNKKO?NQHPJQGP@EPLKPQ;PLP !=((5;4=9<>9855=> >9899<>-;9< :87>$<,+:8>1;> 5=:4=%;77=> :*;9<7=6>7<4=& 7;9 > =:"=51<6>%;=> 0>$<:1877<6>5;2<59=9< :87> $ >>=7>!<*7;<>/ 6>2=59;4877=>' 6>1; 2;=:;> +=995<>4<,2<-9<>1=>%=:;>/#6'
&5 .42 ENLKMQ NJJNQ ?PLHOKNQ FMLQ OLFNLKMBQ HNQ P>>PK< KENIGOQNJQ HOQQDPIQOJQ > 30 ##63# JMKKMQELOFM7 PGGNQHP?PQN?PIQJEM@MQNJQDIPAAMQ;NGPQHOQQ +'= ))B')QQQQDPIQOJQJMKKMQQELOFM7Q JPQ NQDPLNQHOQOLNCCOGGO;O<
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
GKNKMQHOQ>NKKMQPQHOQHOIOKKMQOLQFEOQGOQKIM?NLMBQFMG FMCPQ OHPLKO>OFNKOBQ HPGFIOKKOQ PQ ?NJEKNKOQ HNJ< J:PGDPIKMQLPJJNQIPJNAOMLPBQFMLQM@LOQP?PLKENJP GPI?OK QNKKO?NQPQDNGGO?NQOLPIPLKPQPQ8EMKPQFML< HMCOLONJOQIPJNKO?P7 JNQ?PLHOKNQ-QNQFMIDMQPQLMLQNQCOGEIN7QP?PLKENJO HO>>PIPLAPQHOQCOGEINQLMLQDMKINLLMQHNIQJEM@M NHQNJFELQIOGNIFOCPLKMBQOLHPLLOK9QMQIOHEAOMLP HPJQDIPAAM7QJNQ?PLHOKNQ>MIANKNQLMLQ-QGM@@PKKN NJJPQLMICPQFMLFPILPLKOQJNQ@NINLAONQDPIQ?OAOQM CNLFNLANQHOQ8ENJOK9BQL QDMKI9QPGGPIPQIP?M< FNKNQDPIQNJFELQCMKO?M=Q*MLGP@EPLKPCPLKP J:PGOGKPLANQ HOQ P?PLKENJOQ ?OAOBQ CNLFNLANQ HO 8ENJOK9QMQHO>>MICOK9QHPJJNQFMGNQ?PLHEKNBQMLPIO HOQ8ENJGONGOQ@PLPIPQ<QO?OQFMCDIPGOBQNHQPGPC< DOMBQ8EPJJOQEI;NLOGKOFOQM??PIMQHPIO?NLKOQHNJJN P?PLKENJPQLPFPGGOK9QHOQNHP@ENCPLKMQHOQOC< DONLKOQNJJPQJP@@OQ?O@PLKOBQGDPGPQFMLHMCOLONJO HPJJ:NLLMQ OLQ FMIGMQ PQ HPJJ:NLLMQ DIPFPHPLKP LMLQDN@NKPQHNJQHP;OKMIPQ<QDPIQ8ENJGONGOQCM< KO?MQLMLQFMLGOHPINKOBQNLF6PQGPQMFFEJKOQPQFM< CEL8EPQLMLQP?OHPLAONKOQOLQDPIOAONBQLMLQQ DMKINLLMQHNIQJEM@MQNHQNJFELQIOGNIFOCPLKMBQOL< HPLLOK9QMQIOHEAOMLPQHPJQDIPAAMBQPGGPLHMGOQHO FO QKPLEKMQFMLKMQLPJJNQ?NJEKNAOMLPQHPOQ;PLO7 J:N@@OEHOFNKNIOMQHM?I9Q?PIGNIPQJNQHO>>PIPLAN HPJQDIPAAMQ"HPKINKKNQHNJQDIPAAMQHOQN@@OEHOFN< AOMLPQJNQFNEAOMLPQHOQFEOQGMDIN#QPLKIMQELQKPI< COLPQCNGGOCMQHOQGPGGNLKNQ@OMILOQHNJJNQHNKN HOQN@@OEHOFNAOMLPQCPHONLKPQNGGP@LMQFOIFM< JNIPQLMLQKING>PIO;OJPQOLKPGKNKMQNQ MGKPQ5KNJONLP G=D=N= Q"8ENJMINQOJQDIMFPHOCPLKMQGOQ>MLHOQGE FIPHOKMQ >MLHONIOMQ PQ J:N@@OEHOFNKNIOMQ LMLQ OL< KPLHNQN??NJPIGOQHPJJNQ>NFMJK9QHOQGE;PLKINIPQLPJ FMLKINKKMBQ NJJ:NGGP@LMQ FOIFMJNIPQ GNI9Q GMGKO< KEOKMBQP QNIK=Q)1BQFMCCNQ)BQ&=/@G=Q1QGPKKPC< ;IPQ 1++$BQ L=Q $%0BQ OJQ DN@NCPLKMQ HOIPKKMQ NJJN ;NLFNQFIPHOKIOFPBQLPOQJOCOKOQHPJQFIPHOKMQNAOMLNKM DPIQFNDOKNJPBQOLKPIPGGOQPQGDPGPQFMLQFMJJMFN< AOMLPQDIO?OJP@ONKNBQPLKIMQJMQGKPGGMQKPICOLPQP HPKINKKMQELQNFFNLKMLNCPLKMQDPIQGDPGPQLPJJN COGEINQF6PQGNI9QOLHOFNKNQHNJQ@=P=#7QOLQCNL< FNLANBQ GOQ DIM??PHPI9Q NQ HOF6ONINIPQ JNQ HPFN< HPLANQHNJJ:N@@OEHOFNAOMLPBQNQLMICNQHPJJ:NIK= 0%!QF=D=F=7 GMJKNLKMQ NJJ:PGOKMQ HP@JOQ NHPCDOCPLKOQ DIPFP< HPLKOBQHPJJNQDIMHEAOMLPQHOQN@@OMILNKOQFPIKO>OFNKO FNKNGKNJOQPQHOQN@@OMILNKOQFPIKO>OFNKOQIPJNKO?OQNJJP OGFIOAOMLOQ PQ KINGFIOAOMLOQ P>>PKKENKPQ GEJQ ;PLP LMLF6 QHPJQDN@NCPLKMQHPJJPQGDPGPQHOQKING>P< IOCPLKMBQ HNQ P>>PKKENIGOQ FMLKPGKENJCPLKPQ N 8EPJJMQHPJJNQHO>>PIPLANQHPJQDIPAAMQHOQN@@OEHO< FNAOMLPBQ LPJJNQ COGEINQ HPJQ ' Q HOQ 8EPGK:EJ< KOCMBQGNI9QPCPGGMQOJQHPFIPKMQHOQKING>PIOCPLKMB NOQGPLGOQHPJJ:NIK=Q0% QF=D=F=7Q
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
1BQF=D=F=# M@LOQFMLFMIIPLKPBQDPIQPGGPIPQNCCPGGMQNJJ:OL< FNLKMBQHP?PQDIPGPLKNIPQOGKNLANQHOQDNIKPFODN< AOMLPBQOLQIP@MJNQFMLQOJQ;MJJMBQIPFNLKPBQNQDPLN HOQ OLP>>OFNFONBQ J OLHOFNAOMLPQ HPJQ LECPIMQ HO I=@=P=Q HPJJNQ DIMFPHEINBQ OJQ ;PLPQ MQ OJQ JMKKMQ FEO J:OGKNLANQGKPGGNQ-QIO>PIOKNBQOJQDIPAAMQDIMDMGKMB JPQDIMDIOPQ@PLPINJOK9Q"LMCPBQFM@LMCPBQJEM@M PQ HNKNQ HOQ LNGFOKNBQ FMHOFPQ >OGFNJPB IPGOHPLAN HMCOFOJOMBQGKNKMQFO?OJPQPBQGPQFMLOE< @NKMBQ IP@OCPQ DNKIOCMLONJPQ >INQ OQ FMLOE@O7Q OL FNGMQHOQFMCELOMLPQJP@NJPQHPOQ;PLOBQMFFMIIPI9 OLHOFNIPQNLF6PQJPQ@PLPINJOK9QHPJQFMLOE@PQLML M>>PIPLKPBQ NJQ >OLPQ HOQ DMKPIQ KING>PIOIPQ NHQ PL< KINC;OBQDIMQ8EMKNBQOJQ;PLPBQOLQFNGMQHOQN@@OEHO< FNAOMLP7Q LPJJ:ODMKPGOQ HOQ NF8EOGKMQ NQ KOKMJM DPIGMLNJPQHNQDNIKPQHOQELQFMLOE@PQOLQIP@OCP HOQ FMCELOMLPQ HPOQ ;PLOBQ MFFMIIPQ DIMHEIIPB MJKIPQNJJNQHOF6ONINAOMLPQHOQ8EPGK:EJKOCMBQP QNIK= 1!+BQFMCCNQ1BQJPKK=Q>BQFMH=QFO?=BQ8EPJJNQHPJQFM< LOE@PQ LMLQ NF8EOIPLKPQ HOQ FEOQ NJQ GPFMLHM FMCCNQHPJJNQCPHPGOCNQHOGDMGOAOMLPQLMICN< KO?N#BQJ:PGDIPGGNQHOF6ONINAOMLPQHOQN?PIQDIPGM ?OGOMLPQHPJJNQDPIOAONQHOQGKOCN7 J:OGKNLANBQLPJQFNGMQHOQDIPGPLKNAOMLPQHNQDNIKP HOQ ELQ COLMIPLLPBQ HM?I9Q PGGPIPQ GMKKMGFIOKKN HNOQ@PLOKMIOBQDIP?ONQNEKMIOAANAOMLPQHPJQ@OEHOFP KEKPJNIPBQHNQHPDMGOKNIPQOLQFMDONQFML>MICP7 OLQFNGMQHOQOGKNLANQDIPGPLKNKNQFML@OELKNCPLKP HNQDO QGM@@PKKOBQHP?PQPGGPIPQOLHOFNKMQFMJEO F6PQ N;;ONQ J:PGFJEGO?NQ >NFMJK9Q HOQ >MICEJNIP P?PLKENJOQM>>PIKPQOLQNECPLKM7 LMLQGNI9QDMGGO;OJPQKING>PIOIPQJ:OCCM;OJPQNQGM@< @PKKMQ HO?PIGMQ HNQ 8EPJJMQ F6PQ GMKKMGFIO?P J:OGKNLAN7 NJJ:OGKNLANQHOQDNIKPFODNAOMLPQHP?PQPGGPIPQNJ< JP@NKNQFMDONQHOQ?NJOHMQHMFECPLKMQHOQOHPLKOK9 HPJQFMLFMIIPLKPQPBQGPQLPFPGGNIOMBQ?NJOHNQHM< FECPLKNAOMLPQFMCDIM?NLKPQOQDMKPIOQMQJNQJP@OK< KOCNAOMLPQ HPJJMQ GKPGGMQ "NHQ PG=Q DIMFEIN GDPFONJPQMQFPIKO>OFNKMQFNCPINJPQOLQFNGMQHOQGM< FOPK9#7 FMLQJ:OGKNLANQHOQDNIKPFODNAOMLPBQHNQDIPGPL< KNIGOQOLQ;EGKNQF6OEGNBQGPLANQGP@LOQHOQIOFMLM< GFOCPLKMBQHP?PQPGGPIPQHPDMGOKNKMQNGGP@LM FOIFMJNIPQLMLQKING>PIO;OJPBQOLKPGKNKMQNJJPQ MGKP 5KNJONLPQG=D=N= BQKINCOKPQFEOQP>>PKKENIPQOJQ?PIGN< CPLKMQHPJJNQFNEAOMLPQ"PHQOLQFMLKMQDIPAAMQHO N@@OEHOFNAOMLP#BQOLQIN@OMLPQHOQELQHPFOCMQHPJ DIPAAMQ;NGPQH:NGKN7 NJJ PGKPILMQHPJJNQ;EGKNQ?NLLMQNLLMKNKOBQNQFEIN HPJQ FNLFPJJOPIPQ IOFP?PLKPBQ OJQ LMCPBQ DIP?ON OHPLKO>OFNAOMLPBQ HOQ F6OQ CNKPIONJCPLKPQ DIM?< ?PHPQNJQHPDMGOKMBQOJQLMCPQHPJQ@OEHOFPQHPJJ PGP< FEAOMLPQPQJNQHNKNQHPJJ EHOPLANQ>OGGNKNQDPIQJN ?PLHOKNQNJJ:OLFNLKM7 OLQM@LOQFNGMBQJPQGDPGPQHPJQKING>PIOCPLKMQFP< HMLMQNQFNIOFMQHPJJ:N@@OEHOFNKNIOMBQFEOQIPGKNLM IOGPI?NKPQJPQNKKO?OK9QPHQOQFMGKOQDPIQJNQIP@OGKIN< AOMLPQPQKINGFIOAOMLPQHPJQHPFIPKMQLMLF6 QDPI JNQFNLFPJJNAOMLPQHPJJPQ>MICNJOK9QDIP@OEHOAOP< ?MJOQ@IN?NLKOQGE@JOQOCCM;OJOQNF8EOGKNKO7 -QDMGGO;OJPBQDPIQOQDNIKPFODNLKOQNJJPQNGKPBQMKKP< LPIPQCEKEOQNQKNGGOQPQFMLHOAOMLOQPFMLMCOF6P DIPGKN;OJOKOQHNQM@LOQGOL@MJNQ;NLFNQNHPIPLKP DIMKMFMJJMQ 3 5 QDPIQJNQFMLFPGGOMLPQHOQCEKEO N@JOQN@@OEHOFNKNIO7QJ:PJPLFMQHPJJPQ;NLF6PQNHP< IPLKOQNJJ:OLOAONKO?NQDPIQOJQ,IO;ELNJPQHOQ/NCPAON ,PICPQ-QIPDPIO;OJPQDIPGGMQJNQ*NLFPJJPION7Q 54Q 2/3 5.42QQ3//3Q 24&5,3Q*.4Q54*34,.Q -Q>OGGNKMBQDPIQJNQDIPGPLKNAOMLPQDIPGGMQJNQ*NL< FPJJPIONQ HPJJPQ 2GPFEAOMLOQ 5CCM;OJONIOQ HPJJP OGKNLAPQHOQDNIKPFODNAOMLPQNJJNQ?PLHOKNQNOQDE;< ;JOFOQOLFNLKOQHPJQFMCDPLHOMQOCCM;OJONIPQGMDIN OLHOFNKMQ PQ CP@JOMQ HPGFIOKKMQ LPJJNQ IPJNAOMLP HPJJ:PGDPIKMQOLQNKKOBQNJJNQ8ENJPQGOQ>NQPGDIPGGM IOF6ONCMBQ 8ENJPQ DNIKPQ OLKP@INLKPQ PQ GMGKNL< AONJPQHPJJNQDIPGPLKPQMIHOLNLANBQKPICOLPQ>OLM NJJPQMIPQ1$=''QHPJQ1+Q(5 (4.Q '1 BQFMLQJP CMHNJOK9QPQDPIQOJQDIPAAMQCOLOCMQHOQFEOQGMDIN7 -Q>OGGNKNBQDPIQOJQ@OMILMQ.3> >>.3/.6><58 /.033 PQGP@@=BQJNQ?PLHOKNQNOQDE;;JOFOQOLFNLKO HPJQ FMCDPLHOMQ OCCM;OJONIPQ GMDINQ OLHOFNKMB FMLQJPQCMHNJOK9QPQDPIQOJQDIPAAMQ;NGPQHOQFEOQOL< LNLAO7 /3Q 24&5,3Q3 5242Q3//2Q 2( 24,5Q*.4&5 5.45 @JOQ OCCM;OJOQ ?PL@MLMQ DMGKOQ OLQ ?PLHOKNQ LPJJM GKNKMQHOQ>NKKMQPQHOQHOIOKKMQOLQFEOQGOQKIM?NLMBQFMG FMCPQ OHPLKO>OFNKOBQ HPGFIOKKOQ PQ ?NJEKNKOQ HNJ< J:PGDPIKMQLPJJNQIPJNAOMLPBQFMLQM@LOQP?PLKENJP GPI?OK QNKKO?NQPQDNGGO?NQOLPIPLKPQPQ8EMKPQFML< HMCOLONJOQIPJNKO?P7 JNQ?PLHOKNQ-QNQFMIDMQPQLMLQNQCOGEIN7QP?PLKENJO HO>>PIPLAPQHOQCOGEINQLMLQDMKINLLMQHNIQJEM@M NHQNJFELQIOGNIFOCPLKMBQOLHPLLOK9QMQIOHEAOMLP HPJQDIPAAM7QJNQ?PLHOKNQ>MIANKNQLMLQ-QGM@@PKKN NJJPQLMICPQFMLFPILPLKOQJNQ@NINLAONQDPIQ?OAOQM CNLFNLANQHOQ8ENJOK9BQL QDMKI9QPGGPIPQIP?M< FNKNQDPIQNJFELQCMKO?M=Q*MLGP@EPLKPCPLKP J:PGOGKPLANQ HOQ P?PLKENJOQ ?OAOBQ CNLFNLANQ HO 8ENJOK9QMQHO>>MICOK9QHPJJNQFMGNQ?PLHEKNBQMLPIO HOQ8ENJGONGOQ@PLPIPQ<QO?OQFMCDIPGOBQNHQPGPC< DOMBQ8EPJJOQEI;NLOGKOFOQM??PIMQHPIO?NLKOQHNJJN P?PLKENJPQLPFPGGOK9QHOQNHP@ENCPLKMQHOQOC< DONLKOQNJJPQJP@@OQ?O@PLKOBQGDPGPQFMLHMCOLONJO
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
==NENLPOFOEC@NLKNPNBBL:NINMHN 4IP NCGNEOPGOII9OFOEC@NLKOAP 5MPDHLKCKENMJLPIMPFO?COKJO , )4313 1 3OIP,0:16+9(627:;2/;*" .33*; / / DOKGOKJOPJHMP MKELPGNP3MDLIN 0P HM>>NFMJOP IOP ELKGN@NLKNP DOHP DHLEOGOHOP MIIM >OKGNJMPELMJJN>MPGOIPFO?COKJOP:OKO
7600629;'$91879;;92; 08218%9558 2#97:584; :18597 ; 851:4; 6&76&9; ,60; 8/ -/)"/)34;1:579%879;8+;'59%67:4;817929+9670:;6 $:&1:;16+':409,:07879;265; ;+9;+677:;1: ('26;85;!:#59:;-"4;,807916558;-) 4;85;!:#59: . 4;,/556; )4--);6;- 3 ; !:2+:; 8#091:5:; ; 1:579%87:; 8+ 8#0'(67:;6+;'59%67:4;'$9187:;;92; 08218 %9558; 2#97:584; :18597 ; 1:0+8094; 6&76&: ,60; 8/; /. /-34;1:2;,911:59;!8$$091879;2:2 811878&7879/; 9((:$956; ; 09,:0787:; 265 ; +9; +677:; 1:('26; 85; !:#59:; .)4; ,/556 *4."4. 4*-4*.4**4) ;6;-33 ; )4 ,30 CMKJLPMIIMP>OKGNJMPELKPPNKEMKJLAPGMPO==OJ< JCMHFNPMIP GNP ;- / -.4" DOHPNI ILJJLPK;P2APGNP ;-. /- )4*. DOHPNIPILJJLPKP$AP OFFMP GO>OP M>OHP ICL?LP MIP DHO@@LP :MFOP GNP 2 ;%2$A&.P P DOHP NIP ILJJLP K;P 2AP GNP OCHLP 2$%;2./A*$PPPPDOHPNIPILJJLPK;P$AP IOP MPDOKMPGNPNKMBBNFFN:N< INJ8APKLKPGO>LKLPOFFOHOPNK=OHNLHNPMP ;./.33433 DOHPNIPILJJLPK;P2APMGP ;-"/333433; DOHPNIPILJJLPK; $7 L?KCKLAP MNP FOKFNP GOII9MHJ;P /%.AP ELBBMP 2A E;D;E;APJHMKKOPNIPGO:NJLHOAP+PMBBOFFLPMP=LHBC< IMHOP L==OHJOP MII9NKEMKJLP DOHFLKMIBOKJOAP M BO@@LPGNPBMKGMJMHNLPBCKNJLPGNPDHLECHMPFDO< ENMIOPLPGNPDHLECHMJLHOPIO?MIOAPMKE5OPMPKLHBM GOII9MHJ;P/%.APELBBMP*APE;D;E;P'NIPDHLECHMJLHO IO?MIOPGL>H8APNKPL?KNPEMFLAPOFFOHOPBCKNJLPGN BMKGMJLPFDOENMIOPHNFCIJMKJOPGMPMJJLPDC::INEL LPFEHNJJCHMPDHN>MJMPMCJOKJNEMJMAPKLKPOFFOKGL FC==NENOKJOP I9LHGNKMHNLP BMKGMJLP MIIOP INJN7P KOI< I9NDLJOFNPGNPECNPMIPENJMJLPMHJ;P/%.APELBBMP*APNI BMKGMJLPFDOENMIOPHNFCIJMKJOPGMPMJJLPDC::INEL LPFEHNJJCHMPDHN>MJMPMCJOKJNEMJMPGL>H8POFFOHO GODLFNJMJLP ELKJOFJCMIBOKJOP MIIMP GNE5NMHM< @NLKOPGOIPKLBNKMJN>LPGOIIMPDOHFLKMAPGMPO==OJ< JCMHFNPKOIPJOHBNKOPGNPECNPMII9MHJ;P/&*APELBBM 2APE;D;E;( L?KNPELKELHHOKJOAPDOHPOFFOHOPMBBOFFLPMII9NK< EMKJLAPGO>OPDHOFOKJMHOPNFJMK@MPGNPDMHJOENDM< @NLKOAPNKPHO?LIMPELKPNIP:LIILAPHOEMKJOAPMPDOKM GNP NKO==NEMENMAP I NKGNEM@NLKOP GOIP KCBOHLP GN H;?;O;P GOIIMP DHLEOGCHMAP NIP :OKOP LP NIP ILJJLP ECN I9NFJMK@MPFJOFFMP+PHN=OHNJMAPNIPDHO@@LPDHLDLFJLA IOPDHLDHNOP?OKOHMINJ8P'KLBOAPEL?KLBOAPICL?L OP GMJMP GNP KMFENJMAP ELGNEOP =NFEMIOA HOFNGOK@M GLBNENINLAPFJMJLPEN>NIOPOAPFOPELKNC< ?MJLAP HO?NBOP DMJHNBLKNMIOP =HMP NP ELKNC?N7P NK EMFLPGNPELBCKNLKOPIO?MIOPGONP:OKNAPLEELHHOH8 NKGNEMHOPMKE5OPIOP?OKOHMINJ8PGOIPELKNC?OPKLK L==OHOKJOAP MIP =NKOP GNP DLJOHP JHMF=OHNHOP MGP OK< JHMB:NAPDHLP6CLJMAPNIP:OKOAPNKPEMFLPGNPM??NCGN< EM@NLKO7P KOII9NDLJOFNP GNP ME6CNFJLP MP JNJLIL
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
ELKJHMJJLAP MII9MFFO?KLP ENHELIMHOP FMH8P FLFJN< JCNJLAPO PMHJ;P 2APELBBMP AP);-?F;P2PFOJJOB< :HOP 2..*AP K;P *&/AP NIP DM?MBOKJLP GNHOJJLP MIIM :MKEMPEHOGNJHNEOAPKONPINBNJNPGOIPEHOGNJLPM@NLKMJL DOHPEMDNJMIOAPNKJOHOFFNPOPFDOFOPELKPELIILEM< @NLKOPDHN>NIO?NMJMAPOKJHLPILPFJOFFLPJOHBNKOPO GOJHMJJLPCKPMEEMKJLKMBOKJLPDOHPFDOFOPKOIIM BNFCHMPE5OPFMH8PNKGNEMJMPGMIP?;O;(7PNKPBMK< EMK@MAP FNP DHL>>OGOH8P MP GNE5NMHMHOP IMP GOEM< GOK@MPGMII9M??NCGNEM@NLKOAPMPKLHBMPGOII9MHJ; /&%PE;D;E;7 FLIJMKJLP MII9OFNJLP GO?INP MGOBDNBOKJNP DHOEO< GOKJNAPGOIIMPDHLGC@NLKOPGNPM??NLHKMJNPEOHJN=NEMJN EMJMFJMINPOPGNPM??NLHKMJNPEOHJN=NEMJNPHOIMJN>NPMIIO NFEHN@NLKNP OP JHMFEHN@NLKNP O==OJJCMJOP FCIP :OKO KLKE5 PGOIPDM?MBOKJLPGOIIOPFDOFOPGNPJHMF=O< HNBOKJLAP GMP O==OJJCMHFNP ELKJOFJCMIBOKJOP M 6COIILPGOIIMPGN==OHOK@MPGOIPDHO@@LPGNPM??NCGN< EM@NLKOAP KOIIMP BNFCHMP GOIP $! P GNP 6COFJ9CI< JNBLAPFMH8POBOFFLPNIPGOEHOJLPGNPJHMF=OHNBOKJLA MNPFOKFNPGOII9MHJ;P/& PE;D;E;7P
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
CIFIBFIEJLKLAJLI<<JHDGIFJLCKDFJ9JCIFJLDKEIFJ:JLIEEK JBCDJ;JHGJL KL FDIBCDJ;JHGJL K99KFF@IFKL B@EL 5KGK GHGC1 LAKEL?I<I>KGFHLAKEEKLB?KBKLAJLFDIB9K7 DJ>KGFH=L AIL K99KFF@IDBJL CHGFKBF@IE>KGFKL I 2@KEEHLAKEEILAJ99KDKG;ILAKEL?DK;;HLAJLI<<J@AJ7 CI;JHGK=L GKEEIL >JB@DIL AKEL % L AJL 2@KBF6@E7 FJ>H=LBID4LK>KBBHLJELAKCDKFHLAJLFDIB9KDJ>KGFH= IJLBKGBJLAKEE6IDF8L., LC8?8C83L """"" / L!/L ) !/$ L!/L ) /L/ / / /GLAIGGHLAJL*01+.5)0. '&& 5 . . . /L ) !)L $ C1KL JEL <JHDGHL '&.& .'&!'5 2//35 1035 $& K BK<<8LGKEEILBIEILAKEEKL?@55EJC1KL@AJKG;KLAJ 2@KBFHL$DJ5@GIEK=LI:IGFJLIEL 8)8=LBJL?DHCKAKD4 IEEIL:KGAJFILCHGLJGCIGFHLAKELBK<@KGFKL5KGK J>>H5JEK=LIEEKLBK<@KGFJLCHGAJ;JHGJ EHFFHL@GJCH L 5' . -&& )EKGCHL5KGJLJ>>H5JEJL 4((1#4/35*305+4 4/352#4,2"41)3 %4,15 4)5 2(3"425 30(3-5 /1+2/4, 5 4)3*04+1)5% *30 4+435 ,4/35 45!!'5( -5504*10,2,152/ 5 45 2(3"425 30(35 2/5 1 /415 '$*20,.//25 ! $5 % #5 ' -5 5 *1%,15 )3/5 +10*15 4 2##04+25! -5*42)15! 5%+2/25 -54),30)15$5#. -L9JBBIFH=L?KDLEIL?DKBKGFI;JHGKL?DKBBHLEIL IG7 CKEEKDJIL AKEEKL )BKC@;JHGJL />>H5JEJIDJL AKEEK JBFIG;KLAJL?IDFKCJ?I;JHGKLIEEIL:KGAJFILIJL?@57 5EJCJLJGCIGFJLAKELCH>?KGAJHLJ>>H5JEJIDKLBH?DI JGAJCIFHL KL >K<EJHL AKBCDJFFHL GKEEIL DKEI;JHGK AKEE6KB?KDFHLJGLIFFJ=LIEEIL2@IEKLBJL9ILKB?DKBBH DJC1JI>H=L 2@IEKL ?IDFKL JGFK<DIGFKL KL BHBFIG7 ;JIEKLAKEEIL?DKBKGFKLHDAJGIG;I=LFKD>JGKL9JGH IEEKLHDKL0+8%%LAKEL0*8% 8 %0 =LCHGLEKL>HAI7 EJF4LKL?KDLJEL?DK;;HL>JGJ>HLAJLC@JLBH?DI EKLH99KDFKLJGLI@>KGFH=LIL?KGILAJLJGI>>JBBJ5J7 EJF4=L GHGL AK:HGHL KBBKDKL JG9KDJHDJL IEL + L AKE ?DK;;HL5IBKLA6IBFI3L H<G@GH=L IJL BKGBJL AKEE6IDF8L .&*=L CH>>IL 0= C8?8C8=LFDIGGKLJELAK5JFHDK=L-LI>>KBBHLIL9HD>@7 EIDKL H99KDFKL IEE6JGCIGFHL ?KDBHGIE>KGFK=L I >K;;HLAJL>IGAIFIDJHL>@GJFHLAJL?DHC@DILB?K7 CJIEKLHLAJL?DHC@DIFHDKLEK<IEK=LIGC1KLILGHD>I AKEE6IDF8L.&*=LCH>>IL+=LC8?8C8L'JEL?DHC@DIFHDK EK<IEKLAH:D4=LJGLH<GJLCIBH=LKBBKDKL>@GJFHLAJ >IGAIFHLB?KCJIEKLDJB@EFIGFKLAILIFFHL?@55EJCH HLBCDJFF@DIL?DJ:IFILI@FKGFJCIFI=LGHGLKBBKGAH B@99JCJKGFKL E6HDAJGIDJHL >IGAIFHL IEEKL EJFJ3L GKE7 E6J?HFKBJLAJLC@JLIELCJFIFHLIDF8L.&*=LCH>>IL+=LJE >IGAIFHLB?KCJIEKLDJB@EFIGFKLAILIFFHL?@55EJCH HLBCDJFF@DIL?DJ:IFILI@FKGFJCIFILAH:D4LKBBKDK AK?HBJFIFHL CHGFKBF@IE>KGFKL IEEIL AJC1JIDI7 ;JHGKLAKELGH>JGIFJ:HLAKEEIL?KDBHGI=LAILK99KF7 F@IDBJLGKELFKD>JGKLAJLC@JLIEE6IDF8L.,+=LCH>>I 0=LC8?8C8( H<GJLCHGCHDDKGFK=L?KDLKBBKDKLI>>KBBHLIEE6JG7 CIGFH=LAK:KL?DKBKGFIDKLJBFIG;ILAJL?IDFKCJ?I7 ;JHGK=LJGLDK<HEILCHGLJEL5HEEH=LDKCIGFK=LIL?KGI AJL JGK99JCICJI=L E JGAJCI;JHGKL AKEL G@>KDHL AJ D8<8K8L AKEEIL ?DHCKA@DI=L JEL 5KGKL HL JEL EHFFHL C@J E6JBFIG;ILBFKBBIL-LDJ9KDJFI=LJEL?DK;;HL?DH?HBFH= EKL?DH?DJKL<KGKDIEJF4L'GH>K=LCH<GH>K=LE@H<H KL AIFIL AJL GIBCJFI=L CHAJCKL 9JBCIEK= DKBJAKG;I AH>JCJEJH=LBFIFHLCJ:JEKLK=LBKLCHGJ@7 <IFH=L DK<J>KL ?IFDJ>HGJIEKL 9DIL JL CHGJ@<J3L JG CIBHLAJLCH>@GJHGKLEK<IEKLAKJL5KGJ=LHCCHDDKD4 JGAJCIDKLIGC1KLEKL<KGKDIEJF4LAKELCHGJ@<KLGHG H99KDKGFK=L IEL 9JGKL AJL ?HFKDL FDIB9KDJDKL IAL KG7 FDI>5J=L?DHL2@HFI=LJEL5KGK=LJGLCIBHLAJLI<<J@AJ7 CI;JHGK3L GKEE6J?HFKBJL AJL IC2@JBFHL IL FJFHEH ?KDBHGIEKLAIL?IDFKLAJL@GLCHGJ@<KLJGLDK<J>K AJL CH>@GJHGKL AKJL 5KGJ=L HCCHDDKL ?DHA@DDK= HEFDKLIEEILAJC1JIDI;JHGKLAJL2@KBF6@EFJ>H=LK LIDF8 0&*=LCH>>IL0=LEKFF8L9=LCHA8LCJ:8=L2@KEEILAKELCH7 GJ@<KL GHGL IC2@JDKGFKL AJL C@JL IEL BKCHGAH CH>>ILAKEEIL>KAKBJ>ILAJB?HBJ;JHGKLGHD>I7 FJ:I(=LE6KB?DKBBILAJC1JIDI;JHGKLAJLI:KDL?DKBH :JBJHGKLAKEEIL?KDJ;JILAJLBFJ>I3 E6JBFIG;I=LGKELCIBHLAJL?DKBKGFI;JHGKLAIL?IDFK AJL @GL >JGHDKGGK=L AH:D4L KBBKDKL BHFFHBCDJFFI AIJL<KGJFHDJ=L?DK:JILI@FHDJ;;I;JHGKLAKEL<J@AJCK F@FKEIDK=LAILAK?HBJFIDKLJGLCH?JILCHG9HD>K3 JGLCIBHLAJLJBFIG;IL?DKBKGFIFILCHG<J@GFI>KGFK AIL?J LBH<<KFFJ=LAK:KLKBBKDKLJGAJCIFHLCHE@J C1KL I55JIL E6KBCE@BJ:IL 9ICHEF4L AJL 9HD>@EIDK K:KGF@IEJLH99KDFKLJGLI@>KGFH3 GHGLBID4L?HBBJ5JEKLFDIB9KDJDKLE6J>>H5JEKLILBH<7 <KFFHL AJ:KDBHL AIL 2@KEEHL C1KL BHFFHBCDJ:K E6JBFIG;I3 IEE6JBFIG;ILAJL?IDFKCJ?I;JHGKLAK:KLKBBKDKLIE7 EK<IFILCH?JILAJL:IEJAHLAHC@>KGFHLAJLJAKGFJF4 AKELCHGCHDDKGFKLK=LBKLGKCKBBIDJH=L:IEJAILAH7 C@>KGFI;JHGKLCH>?DH:IGFKLJL?HFKDJLHLEILEK<JF7 FJ>I;JHGKL AKEEHL BFKBBHL 'IAL KB8L ?DHC@DI B?KCJIEKLHLCKDFJ9JCIFHLCI>KDIEKLJGLCIBHLAJLBH7 CJKF4(3 CHGLE6JBFIG;ILAJL?IDFKCJ?I;JHGK=LAIL?DKBKG7 FIDBJLJGL5@BFILC1J@BI=LBKG;ILBK<GJLAJLDJCHGH7 BCJ>KGFH=LAK:KLKBBKDKLAK?HBJFIFHLIBBK<GH CJDCHEIDKLGHGLFDIB9KDJ5JEK=LJGFKBFIFHLIEEKL HBFK /FIEJIGKLB8?8I8 =LFDI>JFKLC@JLK99KFF@IDKLJEL:KDBI7 >KGFHLAKEEILCI@;JHGKL'KALJGLCHGFHL?DK;;HLAJ I<<J@AJCI;JHGK(=LJGLDI<JHGKLAJL@GLAKCJ>HLAKE ?DK;;HL5IBKLA6IBFI3 IEE KBFKDGHLAKEEIL5@BFIL:IGGHLIGGHFIFJ=LILC@DI
AKEL CIGCKEEJKDKL DJCK:KGFK=L JEL GH>K=L ?DK:JI JAKGFJ9JCI;JHGK=L AJL C1JL >IFKDJIE>KGFKL ?DH:7 :KAKLIELAK?HBJFH=LJELGH>KLAKEL<J@AJCKLAKEE KBK7 C@;JHGKLKLEILAIFILAKEE @AJKG;IL9JBBIFIL?KDLEI :KGAJFILIEE6JGCIGFH3 EKL5@BFKLBIDIGGHLI?KDFKLIEE @AJKG;ILBFI5JEJFI ?KDLE6JGCIGFHLIEEIL?DKBKG;ILAK<EJLJBFIGFJ=LEILC@J CH>?IDJ;JHGKL-LGKCKBBIDJILIJL9JGJLAKEE6I<<J@7 AJCI;JHGK=LC1KLBID4LAJB?HBFILBKCHGAHLEKL?DK7 BCDJ;JHGJL AKEE6IDF8L .,0L C8?8C83L EIL >IGCIFI ?IDFKCJ?I;JHGKLIEE6JGCIGFH=L?KDBHGIE>KGFKLH IL>K;;HLAJL?DHC@DIFHDKLB?KCJIEK=LBKG;ILAH7 C@>KGFIFHLKL<J@BFJ9JCIFHL>HFJ:H=LCH>?HDFKD4 E6JGCI>KDI>KGFHLAJL0 0%LAKEEILCI@;JHGK=LC1K= AJL CHGFDH=L BID4L J>>KAJIFI>KGFKL DKBFJF@JFI AH?HLEILC1J@B@DILAKEE6JGCIGFH=LH:KLE6H99KDKGFK= DK<HEID>KGFKL?DKBKGFK=LGHGLAJ:KG<ILI<<J@7 AJCIFIDJH3LGKELCIBHLAJL@GILBHEILJBFIG;ILAJL?ID7 FKCJ?I;JHGK=LHCCHDDKD4LCH>@G2@KLI??HDFIDK @GLDJIE;HL>JGJ>H=LK LIDF8L.,0=LCH>>IL =L?KD CHGBK<@JDKLE6I<<J@AJCI;JHGKL?DH::JBHDJI3 ILGHD>ILAKEE6IDF8L.,#LC8?8C8=LJG9IFFJ=LI::KG@FH E6JGCIGFH=L?HBBHGHLKBBKDKL?DKBKGFIFKLH99KDFK AJLIC2@JBFHLKGFDHLJELFKD>JGKL?KDKGFHDJHLAJLAJKCJ <JHDGJLAIEEIL<IDI=L>ILKBBKLGHGLBHGHLK99JCICJ BKLJEL?DK;;HLH99KDFHLGHGLB@?KDILAJL0 .L2@KEEH DI<<J@GFHLGKEE6JGCIGFH3LE6I<<J@AJCI;JHGK=L?KD7 FIGFH=L AJ:KDD4L AK9JGJFJ:IL H:K=L AKCHDBJL AJKCJ <JHDGJ=LGHGLBJIGHLBFIFKL?DKBKGFIFKLH99KDFKLJG I@>KGFH3 FIEJLH99KDFKL?HFDIGGHLKBBKDKLAK?HBJFIFKL?DKBBH EIL IGCKEEKDJI=LGKEEKL9HD>KLAJLC@JLIEE6IDF8L.&0 C8?8C8=L?DKBFIGAHLCI@;JHGKL?KDL@GILBH>>I ?IDJLIELAH??JHLAKEEILCI@;JHGKL:KDBIFIL?KDLEI ?IDFKCJ?I;JHGKLIEE6JGCIGFH8L/GLCIBHLAJL?DKBKG7 FI;JHGKLAJLFIEJLH99KDFK=L:KDD4LJGAKFFIL@GIL<IDI BKCHGAHLEKL?DK:JBJHGJLAJLC@JLIEE6IDF8L.,#LC8?8C88 KLGKBB@GHLAK<EJLH99KDKGFJLJGLI@>KGFHL?IDFK7 CJ?ILIEEIL<IDILJGAKFFILILGHD>ILAKEE6IDF8L.,#= CH>>IL+=LC8?8C8=LE6I<<J@AJCI;JHGKLAJ:KGFILAK7 9JGJFJ:ILKL:KDD4L?DHG@GCJIFILILCIDJCHLAK<EJLH97 9KDKGFJL'BIE:HLC1KLDJCHDDIL@GLAHC@>KGFIFHLK <J@BFJ9JCIFHL>HFJ:H(LEIL?KDAJFILAKEEILCI@;JHGK= JELC@JLJ>?HDFHL-LFDIFFKG@FHLCH>KLDJG:KGJKGFKLI F@FFJL<EJLK99KFFJLAIEE6KBKC@;JHGK3L JGLH<GJLCIBH=LEKLB?KBKLAKELFDIB9KDJ>KGFHLCK7 AHGHLILCIDJCHLAKEE6I<<J@AJCIFIDJH=LC@JLDKBFIGH DJBKD:IFKLEKLIFFJ:JF4LKALJLCHBFJL?KDLEILDK<JBFDI7 ;JHGKLKLFDIBCDJ;JHGKLAKELAKCDKFHLGHGC1 L?KD EILCIGCKEEI;JHGKLAKEEKL9HD>IEJF4L?DK<J@AJ;JK7 :HEJL<DI:IGFJLB@<EJLJ>>H5JEJLIC2@JBFIFJ3 -L?HBBJ5JEK=L?KDLJL?IDFKCJ?IGFJLIEEKLIBFK=LHFFK7 GKDKL>@F@JLILFIBBJLKLCHGAJ;JHGJLKCHGH>JC1K ?DKBFI5JEJFJLAILH<GJLBJG<HEIL5IGCILIAKDKGFK ?DHFHCHEEHL / L?KDLEILCHGCKBBJHGKLAJL>@F@J I<EJLI<<J@AJCIFIDJ3LE6KEKGCHLAKEEKL5IGC1KLIAK7 DKGFJLIEE6JGJ;JIFJ:IL?KDLJEL$DJ5@GIEKLAJL I>K;JI $KD>KL-LDK?KDJ5JEKL?DKBBHLEIL IGCKEEKDJI3L <EJLJ>>H5JEJL:KG<HGHL?HBFJLJGL:KGAJFILLGKEEH BFIFHLAJL9IFFHLKLAJLAJDJFFHLJGLC@JLBJLFDH:IGH=LCHB CH>KL JAKGFJ9JCIFJ=L AKBCDJFFJL KL :IE@FIFJL AIE7 E6KB?KDFHLGKEEILDKEI;JHGK=LCHGLH<GJLK:KGF@IEK BKD:JF LIFFJ:ILKL?IBBJ:ILJGKDKGFKLKL2@HFKLCHG7 AH>JGJIEJLDKEIFJ:K3 EIL:KGAJFIL-LILCHD?HLKLGHGLIL>JB@DI3LK:KGF@IEJ AJ99KDKG;KLAJL>JB@DILGHGL?HFDIGGHLAIDLE@H<H IALIEC@GLDJBIDCJ>KGFH=LJGAKGGJF4LHLDJA@;JHGK AKEL?DK;;H3LEIL:KGAJFIL9HD;IFILGHGL-LBH<<KFFI IEEKLGHD>KLCHGCKDGKGFJLEIL<IDIG;JIL?KDL:J;JLH >IGCIG;ILAJL2@IEJF4=LG L?HFD4LKBBKDKLDK:H7 CIFIL?KDLIEC@GL>HFJ:H8L HGBK<@KGFK>KGFK E6KBJBFKG;IL AJL K:KGF@IEJL :J;J=L >IGCIG;IL AJ 2@IEJF4LHLAJ99HD>JF4LAKEEILCHBIL:KGA@FI=LHGKDJ AJL2@IEBJIBJL<KGKDKL7LJ:JLCH>?DKBJ=LIALKBK>7 ?JH=L2@KEEJL@D5IGJBFJCJLH::KDHLAKDJ:IGFJLAIEEI K:KGF@IEKLGKCKBBJF4LAJLIAK<@I>KGFHLAJLJ>7 ?JIGFJLIEEKLEK<<JL:J<KGFJ=LB?KBKLCHGAH>JGJIEJ AKEE6IGGHL JGL CHDBHL KL AKEE6IGGHL ?DKCKAKGFK GHGL?I<IFKLAIELAK5JFHDKL7L?KDL2@IEBJIBJL>H7 FJ:HLGHGLCHGBJAKDIFJ=LIGC1KLBKLHCC@EFJLKLCH7 >@G2@KL GHGL K:JAKG;JIFJL JGL ?KDJ;JI=L GHG ?HFDIGGHLAIDLE@H<HLIALIEC@GLDJBIDCJ>KGFH=LJG7 AKGGJF4LHLDJA@;JHGKLAKEL?DK;;H=LKBBKGAHBJLAJ CJ LFKG@FHLCHGFHLGKEEIL:IE@FI;JHGKLAKJL5KGJ3 E6I<<J@AJCIFIDJHLAH:D4L:KDBIDKLEILAJ99KDKG;I AKEL?DK;;HL'AKFDIFFILAIEL?DK;;HLAJLI<<J@AJCI7 ;JHGKLEILCI@;JHGKLAJLC@JLBH?DI(LKGFDHL@GLFKD7 >JGKL>IBBJ>HLAJLBKBBIGFIL<JHDGJLAIEEILAIFI AJLI<<J@AJCI;JHGKL>KAJIGFKLIBBK<GHLCJDCH7 EIDKLGHGLFDIB9KDJ5JEKLJGFKBFIFHLIL HBFKL/FIEJIGK B8?8I8 L'2@IEHDILJEL?DHCKAJ>KGFHLBJL9HGAJLB@ CDKAJFHL 9HGAJIDJHL KL E6I<<J@AJCIFIDJHL GHGL JG7 FKGAILI::IEKDBJLAKEEIL9ICHEF4LAJLB@5KGFDIDKLGKE CHGFDIFFH=L IEE6IBBK<GHL CJDCHEIDKL BID4L BHBFJ7 F@JFH=LK LIDF8L#0=LCH>>IL#=L!8 <B8L0LBKFFK>7 5DKL 0**+=L G8L +,.=L JEL ?I<I>KGFHL AJDKFFHL IEEI 5IGCILCDKAJFDJCK=LGKJLEJ>JFJLAKELCDKAJFHLI;JHGIFH ?KDLCI?JFIEK=LJGFKDKBBJLKLB?KBKLCHGLCHEEHCI7 ;JHGKL?DJ:JEK<JIFI=LKGFDHLEHLBFKBBHLFKD>JGKLK AKFDIFFHL@GLICCIGFHGI>KGFHL?KDLB?KBKLGKEEI >JB@DILC1KLBID4LJGAJCIFILAIEL<8K8(3LJGL>IG7 CIG;I=L BJL ?DH::KAKD4L IL AJC1JIDIDKL EIL AKCI7 AKG;ILAIEE6I<<J@AJCI;JHGK=LILGHD>ILAKEE6IDF8 .,&LC8?8C83 BHEFIGFHL IEE6KBJFHL AK<EJL IAK>?J>KGFJL ?DKCK7 AKGFJ=LAKEEIL?DHA@;JHGKLAJLI<<JHDGIFJLCKDFJ9JCIFJ CIFIBFIEJLKLAJLI<<JHDGIFJLCKDFJ9JCIFJLDKEIFJ:JLIEEK
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
AKEL CIGCKEEJKDKL DJCK:KGFK=L JEL GH>K=L ?DK:JI JAKGFJ9JCI;JHGK=L AJL C1JL >IFKDJIE>KGFKL ?DH:7 :KAKLIELAK?HBJFH=LJELGH>KLAKEL<J@AJCKLAKEE KBK7 C@;JHGKLKLEILAIFILAKEE @AJKG;IL9JBBIFIL?KDLEI :KGAJFILIEE6JGCIGFH3 EKL5@BFKLBIDIGGHLI?KDFKLIEE @AJKG;ILBFI5JEJFI ?KDLE6JGCIGFHLIEEIL?DKBKG;ILAK<EJLJBFIGFJ=LEILC@J CH>?IDJ;JHGKL-LGKCKBBIDJILIJL9JGJLAKEE6I<<J@7 AJCI;JHGK=LC1KLBID4LAJB?HBFILBKCHGAHLEKL?DK7 BCDJ;JHGJL AKEE6IDF8L .,0L C8?8C83L EIL >IGCIFI ?IDFKCJ?I;JHGKLIEE6JGCIGFH=L?KDBHGIE>KGFKLH IL>K;;HLAJL?DHC@DIFHDKLB?KCJIEK=LBKG;ILAH7 C@>KGFIFHLKL<J@BFJ9JCIFHL>HFJ:H=LCH>?HDFKD4 E6JGCI>KDI>KGFHLAJL0 0%LAKEEILCI@;JHGK=LC1K= AJL CHGFDH=L BID4L J>>KAJIFI>KGFKL DKBFJF@JFI AH?HLEILC1J@B@DILAKEE6JGCIGFH=LH:KLE6H99KDKGFK= DK<HEID>KGFKL?DKBKGFK=LGHGLAJ:KG<ILI<<J@7 AJCIFIDJH3LGKELCIBHLAJL@GILBHEILJBFIG;ILAJL?ID7 FKCJ?I;JHGK=LHCCHDDKD4LCH>@G2@KLI??HDFIDK @GLDJIE;HL>JGJ>H=LK LIDF8L.,0=LCH>>IL =L?KD CHGBK<@JDKLE6I<<J@AJCI;JHGKL?DH::JBHDJI3 ILGHD>ILAKEE6IDF8L.,#LC8?8C8=LJG9IFFJ=LI::KG@FH E6JGCIGFH=L?HBBHGHLKBBKDKL?DKBKGFIFKLH99KDFK AJLIC2@JBFHLKGFDHLJELFKD>JGKL?KDKGFHDJHLAJLAJKCJ <JHDGJLAIEEIL<IDI=L>ILKBBKLGHGLBHGHLK99JCICJ BKLJEL?DK;;HLH99KDFHLGHGLB@?KDILAJL0 .L2@KEEH DI<<J@GFHLGKEE6JGCIGFH3LE6I<<J@AJCI;JHGK=L?KD7 FIGFH=L AJ:KDD4L AK9JGJFJ:IL H:K=L AKCHDBJL AJKCJ <JHDGJ=LGHGLBJIGHLBFIFKL?DKBKGFIFKLH99KDFKLJG I@>KGFH3 FIEJLH99KDFKL?HFDIGGHLKBBKDKLAK?HBJFIFKL?DKBBH EIL IGCKEEKDJI=LGKEEKL9HD>KLAJLC@JLIEE6IDF8L.&0 C8?8C8=L?DKBFIGAHLCI@;JHGKL?KDL@GILBH>>I ?IDJLIELAH??JHLAKEEILCI@;JHGKL:KDBIFIL?KDLEI ?IDFKCJ?I;JHGKLIEE6JGCIGFH8L/GLCIBHLAJL?DKBKG7 FI;JHGKLAJLFIEJLH99KDFK=L:KDD4LJGAKFFIL@GIL<IDI BKCHGAHLEKL?DK:JBJHGJLAJLC@JLIEE6IDF8L.,#LC8?8C88 KLGKBB@GHLAK<EJLH99KDKGFJLJGLI@>KGFHL?IDFK7 CJ?ILIEEIL<IDILJGAKFFILILGHD>ILAKEE6IDF8L.,#= CH>>IL+=LC8?8C8=LE6I<<J@AJCI;JHGKLAJ:KGFILAK7 9JGJFJ:ILKL:KDD4L?DHG@GCJIFILILCIDJCHLAK<EJLH97 9KDKGFJL'BIE:HLC1KLDJCHDDIL@GLAHC@>KGFIFHLK <J@BFJ9JCIFHL>HFJ:H(LEIL?KDAJFILAKEEILCI@;JHGK= JELC@JLJ>?HDFHL-LFDIFFKG@FHLCH>KLDJG:KGJKGFKLI F@FFJL<EJLK99KFFJLAIEE6KBKC@;JHGK3L JGLH<GJLCIBH=LEKLB?KBKLAKELFDIB9KDJ>KGFHLCK7 AHGHLILCIDJCHLAKEE6I<<J@AJCIFIDJH=LC@JLDKBFIGH DJBKD:IFKLEKLIFFJ:JF4LKALJLCHBFJL?KDLEILDK<JBFDI7 ;JHGKLKLFDIBCDJ;JHGKLAKELAKCDKFHLGHGC1 L?KD EILCIGCKEEI;JHGKLAKEEKL9HD>IEJF4L?DK<J@AJ;JK7 :HEJL<DI:IGFJLB@<EJLJ>>H5JEJLIC2@JBFIFJ3 -L?HBBJ5JEK=L?KDLJL?IDFKCJ?IGFJLIEEKLIBFK=LHFFK7 GKDKL>@F@JLILFIBBJLKLCHGAJ;JHGJLKCHGH>JC1K ?DKBFI5JEJFJLAILH<GJLBJG<HEIL5IGCILIAKDKGFK ?DHFHCHEEHL / L?KDLEILCHGCKBBJHGKLAJL>@F@J I<EJLI<<J@AJCIFIDJ3LE6KEKGCHLAKEEKL5IGC1KLIAK7 DKGFJLIEE6JGJ;JIFJ:IL?KDLJEL$DJ5@GIEKLAJL I>K;JI $KD>KL-LDK?KDJ5JEKL?DKBBHLEIL IGCKEEKDJI3L <EJLJ>>H5JEJL:KG<HGHL?HBFJLJGL:KGAJFILLGKEEH BFIFHLAJL9IFFHLKLAJLAJDJFFHLJGLC@JLBJLFDH:IGH=LCHB CH>KL JAKGFJ9JCIFJ=L AKBCDJFFJL KL :IE@FIFJL AIE7 E6KB?KDFHLGKEEILDKEI;JHGK=LCHGLH<GJLK:KGF@IEK BKD:JF LIFFJ:ILKL?IBBJ:ILJGKDKGFKLKL2@HFKLCHG7 AH>JGJIEJLDKEIFJ:K3 EIL:KGAJFIL-LILCHD?HLKLGHGLIL>JB@DI3LK:KGF@IEJ AJ99KDKG;KLAJL>JB@DILGHGL?HFDIGGHLAIDLE@H<H IALIEC@GLDJBIDCJ>KGFH=LJGAKGGJF4LHLDJA@;JHGK AKEL?DK;;H3LEIL:KGAJFIL9HD;IFILGHGL-LBH<<KFFI IEEKLGHD>KLCHGCKDGKGFJLEIL<IDIG;JIL?KDL:J;JLH >IGCIG;ILAJL2@IEJF4=LG L?HFD4LKBBKDKLDK:H7 CIFIL?KDLIEC@GL>HFJ:H8L HGBK<@KGFK>KGFK E6KBJBFKG;IL AJL K:KGF@IEJL :J;J=L >IGCIG;IL AJ 2@IEJF4LHLAJ99HD>JF4LAKEEILCHBIL:KGA@FI=LHGKDJ AJL2@IEBJIBJL<KGKDKL7LJ:JLCH>?DKBJ=LIALKBK>7 ?JH=L2@KEEJL@D5IGJBFJCJLH::KDHLAKDJ:IGFJLAIEEI K:KGF@IEKLGKCKBBJF4LAJLIAK<@I>KGFHLAJLJ>7 ?JIGFJLIEEKLEK<<JL:J<KGFJ=LB?KBKLCHGAH>JGJIEJ AKEE6IGGHL JGL CHDBHL KL AKEE6IGGHL ?DKCKAKGFK GHGL?I<IFKLAIELAK5JFHDKL7L?KDL2@IEBJIBJL>H7 FJ:HLGHGLCHGBJAKDIFJ=LIGC1KLBKLHCC@EFJLKLCH7 >@G2@KL GHGL K:JAKG;JIFJL JGL ?KDJ;JI=L GHG ?HFDIGGHLAIDLE@H<HLIALIEC@GLDJBIDCJ>KGFH=LJG7 AKGGJF4LHLDJA@;JHGKLAKEL?DK;;H=LKBBKGAHBJLAJ CJ LFKG@FHLCHGFHLGKEEIL:IE@FI;JHGKLAKJL5KGJ3 E6I<<J@AJCIFIDJHLAH:D4L:KDBIDKLEILAJ99KDKG;I AKEL?DK;;HL'AKFDIFFILAIEL?DK;;HLAJLI<<J@AJCI7 ;JHGKLEILCI@;JHGKLAJLC@JLBH?DI(LKGFDHL@GLFKD7 >JGKL>IBBJ>HLAJLBKBBIGFIL<JHDGJLAIEEILAIFI AJLI<<J@AJCI;JHGKL>KAJIGFKLIBBK<GHLCJDCH7 EIDKLGHGLFDIB9KDJ5JEKLJGFKBFIFHLIL HBFKL/FIEJIGK B8?8I8 L'2@IEHDILJEL?DHCKAJ>KGFHLBJL9HGAJLB@ CDKAJFHL 9HGAJIDJHL KL E6I<<J@AJCIFIDJHL GHGL JG7 FKGAILI::IEKDBJLAKEEIL9ICHEF4LAJLB@5KGFDIDKLGKE CHGFDIFFH=L IEE6IBBK<GHL CJDCHEIDKL BID4L BHBFJ7 F@JFH=LK LIDF8L#0=LCH>>IL#=L!8 <B8L0LBKFFK>7 5DKL 0**+=L G8L +,.=L JEL ?I<I>KGFHL AJDKFFHL IEEI 5IGCILCDKAJFDJCK=LGKJLEJ>JFJLAKELCDKAJFHLI;JHGIFH ?KDLCI?JFIEK=LJGFKDKBBJLKLB?KBKLCHGLCHEEHCI7 ;JHGKL?DJ:JEK<JIFI=LKGFDHLEHLBFKBBHLFKD>JGKLK AKFDIFFHL@GLICCIGFHGI>KGFHL?KDLB?KBKLGKEEI >JB@DILC1KLBID4LJGAJCIFILAIEL<8K8(3LJGL>IG7 CIG;I=L BJL ?DH::KAKD4L IL AJC1JIDIDKL EIL AKCI7 AKG;ILAIEE6I<<J@AJCI;JHGK=LILGHD>ILAKEE6IDF8 .,&LC8?8C83 BHEFIGFHL IEE6KBJFHL AK<EJL IAK>?J>KGFJL ?DKCK7 AKGFJ=LAKEEIL?DHA@;JHGKLAJLI<<JHDGIFJLCKDFJ9JCIFJ CIFIBFIEJLKLAJLI<<JHDGIFJLCKDFJ9JCIFJLDKEIFJ:JLIEEK
MFDHM?MKJMO NO IHLFDHM?MKJMO N<<NIICLINO FCGO 8NJN JKJD4 OENGOBL>LANJIKOENGGNOFBNFNOEMOIHLF<N: HMANJIK@O ELO N<<NIICLHFMO DKJINFICLGANJINO L 5CNGGKOENGGLOEM<<NHNJ?LOENGOBHN??KOEMOL>>MCEM: DL?MKJN@O JNGGLO AMFCHLO ENGO )- O EMO 5CNFI9CG: IMAK@OFLH7ONANFFKOMGOENDHNIKOEMOIHLF<NHMANJIK@ LMOFNJFMOENGG9LHI;O1. OD;B;D;6 (LAN?MLO+NHAN@
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
ENJIM@OENGGLOBHKEC?MKJNOEMOL>>MKHJLIMODNHIM<MDLIM DLILFILGMONOEMOL>>MKHJLIMODNHIM<MDLIMOHNGLIM=MOLGGN MFDHM?MKJMO NO IHLFDHM?MKJMO N<<NIICLINO FCGO 8NJN JKJD4 OENGOBL>LANJIKOENGGNOFBNFNOEMOIHLF<N: HMANJIK@O ELO N<<NIICLHFMO DKJINFICLGANJINO L 5CNGGKOENGGLOEM<<NHNJ?LOENGOBHN??KOEMOL>>MCEM: DL?MKJN@O JNGGLO AMFCHLO ENGO )- O EMO 5CNFI9CG: IMAK@OFLH7ONANFFKOMGOENDHNIKOEMOIHLF<NHMANJIK@ LMOFNJFMOENGG9LHI;O1. OD;B;D;6 (LAN?MLO+NHAN@ ;4< ;,+;19<+944 $.91,';839
# 2 O"2O % "2+#O"2O % 2O2 2(2O % O# +;O1 ,O! #O0O! !O %((#O %2<$ $%2 2< 2<* < $ MOHNJENOJKIK D4NOMGO ;%;ODKJOKHEMJLJ?LOENGOO).;0;)-3)O 4LOEMFBKFIKOGLO=NJEMILOENMOFN>CNJIMO8NJMO MAAK8MGMOJNGGKOFILIKOEMO<LIIKONOEMOEMHMIIK MJODCMOFMOIHK=LJK (;7:';839<:4<-6;/8<-;:38<18.7;# 7,;7:<+:<1,1;3:0.8"";863801:/96:<+:<49778 9<(:#"38<.;7:<;3< :/9';:< 96/9# ;1:.78 ;:<%83&867;<6;-867:7:<:4< %$ <+;<+9778<%8# /,39<:4<&"2<* <-244:<*55<.,(<)<183<.,-96&2 18//2<+;</ 2<! 2
<)*2!55055 (;7:';839<.,<+,9<-;:3;0<-691;.:# /9379< 796'8< 9< ,:678018449":7;< +:< ,3: .1:4:<;3#7963:0<.,-96&2<18//2<+;</ <* 5 .;7:<;3< :/9';:< 96/9#< ;1:.768< ;:<%83# &867;<6;-867:7:<:4< %$ <+;<+9778<18/,39<:4 &"<* <-244:<*55<.,(< 2
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
+, ; ) ; ) 954:;/68/6957 ;0533 9''8 #935;94; 9056482;:09#978;:0;.*8;': :""9482 :0;.4;/9:48;$1712;-84*1;09;-96-:; ,;' 1 ;/65 *5475;:3; ) ;:3;$8 398;%%2;/:671;%+(;*.# (2; -8'5; $:##69-:78; 94; -86*8; 09; -8*76. "9845 ).68;(%1 + 2,,;
+, ; ) ; ) 954:;/68/6957 ;0533 9''8 #935;94; 9056482;:09#978;:0;.*8;': :""9482 :0;.4;/9:48;$1712;':;94;65:37 ;:--:7:*7:7: :3; ) ;-8'5; !; :#97:"9845;09;79/8;.3 76:/8/83:65 2;:3;$8 398;%%2;/:671;%+(;*.#;! 5;$8 398;%%2;/:671;& &;09; :49;(;5;.4:;654 097:;09;& 2& ;).68 ).68;& 1&(,2,,
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
GMHLOMIO9BFHLOD1MBFL<OLJODBMONFHNGIKOIKIOFLG2 DKIFNIHMHKOLIIKHLGNOINFFBIOLJHGKONJNANIHKON FCNDMLJANIHNO&BNJJMOD1NOCKFFKIKODKIEBGGNOLE MENIHM@MDLGNOMJO9NINOK==NHHKOENJJ;K@@NGHL3OJ;K@: @NGHLOEN>NONFFNGNOLDDKACL=ILHLOELJOENCK: FMHKOENJJLODLB?MKIN<OCLGMOLJO*% OENJOCGN??K K@@NGHK<O ELO >NGFLGNO DKIO LFFN=IMO DMGDKJLGM +0+O/)4# 5)7!7.7 OMIHNFHLHMOLJJ;K@@NGNIHN< ELOMIFNGMGFM<OLODBGLOENJJ;K@@NGNIHN<OINJJLOANEN: FMALO9BFHLODKIHNINIHNOJ;K@@NGHL3OOJNOK@@NGHNOMI LBANIHK<OINJODLFKOEMODBMOLJJ;LGH8O,( ODCD<OIKI CKHGLIIKO NFFNGNO MI@NGMKGMO LJO O ENJO CGN??K 9LFN3OOJ;L==MBEMDLHLGMKOEK>G2O>NGFLGNOMJOFLJEK NOJ;MACKGHKOENJJNOFCNFNOFNDKIEKO&BLIHKOCGN: >MFHKOINMOCBIHMO*$ONO* OENJJ;KGEMILI?LOEMO>NI: EMHLO "K>>NGKO ENCKFMHKO NIHGKO %O ==8 ELJJ;L==MBEMDL?MKINOENJOGNFMEBKOCGN??K<OEN: HGLHHKOJ;MACKGHKOCNGODLB?MKINO=M2O>NGFLHK<ON ENJJ;MACKGHKODKACJNFFM>KOCNGOJNOFCNFNODKJJN: =LHNOLJJLO>NIEMHL<OLJJ;BKCKODKABIMDLHKOELJJL DLIDNJJNGMLO NO INDNFFLGMNO CNGO J;NALIL?MKIN ENJOENDGNHKOEMOHGLF@NGMANIHK63OMJOALIDLHKO>NG: FLANIHKOENJOCGN??KOGNFMEBKOINMOHNGAMIMOMIEM: DLHMO DKACKGHNG2O JLO ENDLENI?L ENJJ;L==MBEMDL?MKINO NO JLO CNGEMHLO ENJJLO DLB: ?MKIN<O NEO NFCKGG2O J;L==MBEMDLHLGMKO MILENA: CMNIHNOLJJNODKIFN=BNI?NOEMODBMOLJJ;LGH8O, (ODK 77ODCDO"GMD1MLALHKOELJJ;LGH8O,( <O777ODK<ODCD63 0 5O #7O '5!!4O )0-5'5)5O 47O #5+#7 '5 .7O 4)//8O ,(*<,($O 5O ,( O -8 8-8<O .4 5+'7/4O 4.O !!.7-0O 7+-4+/0O 4 : 5))4;O4..; '75+ 4O'5.O((1, 1(,+(2;DKI MJOCGN??KOFKCGLOGMCKGHLHKOINJJLOENFDGM?MKINOMA: AK9MJMONO)7'0//0O-0 5O+5..4O '75+ 4 #5+ 4O7+-4+/0O"ENJO$,8%,8$%*$6 DMLFDBIOK@@NGNIHN<OHGLIINOMJOEN9MHKGNONOHBHHMOM FK==NHHMOCNGOJN==NOIKIOLAANFFMOLJJLO>NIEMHL< EK>G2OENCKFMHLGN<OFMIKOLJJ;MIM?MKON@@NHHM>KOENJ: J;BEMNI?LOEMO>NIEMHL<OEKALIELOEMOCLGHNDMCL: ?MKINO LJJ;MIDLIHKO ELO CGNFNIHLGFMO MIO 9BFHL D1MBFLOLOCNILOEMOMGGMDN>M9MJMH2OENJJ;K@@NGHL<OBIM: HLANIHNOLJJ;MFHLI?LOEMOCLGHNDMCL?MKINOLJJ;MI: DLIHK<O DMLFDBIO K@@NGNIHNO EK>G2O ENCKFMHLGN BILO FKAALO CLGMO LJO *% O ENJO CGN??KO 9LFN E;LFHLOFKCGLMIEMDLHKOLOHMHKJKOEMODLB?MKIN<OAN: EMLIHNODKIFN=ILOMIO-LIDNJJNGMLO:O @@MDMKO5FN: DB?MKIMO7AAK9MJMLGMO:OEMOLFFN=IMODMGDKJLGMO+0+ /)4# 5)7!7.7OMIHNFHLHMOLJJ;K@@NGNIHN3OOJNOK@: @NGHNOMIOLBANIHKOIKIOCKHGLIIKONFFNGNOMI@N: GMKGMOLJO OENJOCGN??KO9LFN3OOOFNOJ;K@@NGNIHN IKIOEM>MNINOL==MBEMDLHLGMK<OJLODLB?MKINO OGN: FHMHBMHLOINJJLOAMFBGLOFHL9MJMHLOELJJ;LGH8O, %ODCD3 J;L==MBEMDLHLGMKOEK>G2O>NGFLGNOMJOFLJEKONOJ;MA: CKGHKOENJJNOFCNFNOFNDKIEKO&BLIHKOCGN>MFHK CNGOJLO>NIEMHLOFNI?LOMIDLIHK<O@NGALOGNFHLIEK JLOENDLENI?LONOJLOCNGEMHLOENJJLODLB?MKINOEM DBMOLJJ;LGH8O, (ODCDOMIODLFKOEMOALIDLHKOENCK: FMHK88 - #/0'5O 7 '7 74)70 O 4>>8O )4+-5: #-4O # 5 74.7O #MHMO 7IHNGINHO FBMO &BLJMO FKIK CB99JMDLHMOJ;KGEMILI?LOEMO>LIEMHLONOJLOGNJL?MKIN EMOFHMAL 8CKGHLJNMAAK9MJM8MHO:O 8CKGHL: JNLFHN8MHO:OO 8LFHN8NB=NIMBF8MHOO L==MKGMOMI@KGAL?MKIMOCKHGLIIKOONFFNGNOLD: &BMFMHNOCGNFFKOJLO-LIDNJJNGMLO5FNDB?MKIMO7A: AK9MJMLGMOEMO&BNFHKO/GM9BILJN8 5#/)4//0O -0+ 0) 5O 5)O #0O !: !.7-7/4;8 .KDGM<O* O 4) 0O$%*$ :O-0+'7 70+7OO'7O 5+'7/4O7 0!7.74)5O 4..5 4/5O4.O 5)!4.5O'7O '75+ 4O :O 858O*:* *6.;MAAK9MJNOCM=IKGLHKOFLG2OCKFHKOMIO>NIEMHL LODKGCKOINJJLODKIFMFHNI?LOMIEMDLHLOINJJLOCNGM: ?MLOEMOFHMALOENJJ;4GD18O4JNFFLIEGKO-7 )70/7 ELOMIHNIENGFMO&BMOCNGOMIHNGKOGMD1MLALHLONOHGL: FDGMHHL<OLID1NODKIOGM@NGMANIHKOLJJLODKIEM?MKIN BG9LIMFHMDLOENJO9NIN3 $6K=IBIK<OHGLIINOMJOEN9MHKGN<O OLAANFFKOL K@@GMGNOCNGOJ;LD&BMFHKOENJJ;MAAK9MJNOCM=IKGLHK CNGFKILJANIHNOKOLOAN??KOEMOCGKDBGLHKGNOJN: =LJN<OLID1NOCNGOCNGFKILOELOIKAMILGNO"LGH8 ,( <OBJHMAKODKAALODCD63 6NIHGKOJNOKGNO*$<%%OENJO=MKGIKOLIHNDNENIHN JLO>NIEMHL<OJ;K@@NGNIHNOEN>NOCGNFNIHLGN<OLID1N LOAN??KOEMOCNGFKILOEM>NGFL<OINJJLODLIDNJJNGML ENJJNONFNDB?MKIMOMAAK9MJMLGMOEKALIELODKGGN: ELHLOELOALGDLOELO9KJJKONOEMGMHHMOEMODLIDNJJNGML DKANOCGN>MFHMOCNGOJN==NOOCNGOCLGHNDMCLGNOLJJL >NIEMHLOFNI?LOMIDLIHK<ODKIHNINIHNO46OJ;MIEM: DL?MKINOENJOCGN??KOD1NOFMOMIHNIENOK@@GMGNO"D1N< LOCNILOEMOMIN@@MDLDML<OIKIOCB ONFFNGNOMI@NGMKGN ENJOCGN??KO9LFNOFBMIEMDLHK<OFLJ>NON>NIHBLJMON FBDDNFFM>NOGMEB?MKIM63O!6OJLOELHLOENJJLO>NIEMHL NOJLOCGKDNEBGLODBMOFMOGM@NGMFDN3O-6OJNO=NINGLJMH2 "DKACGNFKOMJODKEMDNO@MFDLJN6OCGKCGMNONO:OFNOMI GN=MANOEMODKABIMKINOJN=LJNOENJODKIMB=N3O'6 J;MIEMDL?MKINOENJJLO>KJKIH2OEMOL>>LJNGFM<OK>NOIN FBFFMFHLIKOMOCGNFBCCKFHM<OENMO9NIN@MDMO@MFDLJM CNGOJLOCGMALODLFL3O 56O JNO MIEMDL?MKIMO DMGDLO MJO HNACKO "DKABI&BN IKIO FBCNGMKGNO LO %O =MKGIMO ELJJLO L==MBEMDL: ?MKIN<OJMAMHNOD1NOFMOGMHNGG2OMACJMDMHLANIHNOGM: DKJJN=LHKO INJO ALFFMAK<O LJJLO ALIDLHL MIEMDL?MKINOEMOBIOHNGAMINOEM>NGFK6<OMJOAKEK ENJOCL=LANIHKOKOK=IMOLJHGKONJNANIHKOBHMJNOLJJL >LJBHL?MKINOENJJ;K@@NGHL3O 6OJLOEMD1MLGL?MKINOEM
L>NGOJNHHKOJLOGNJL?MKINOEMOFHMALO"DKIFBJHL9MJN FBJJ;LCCKFMHKOFMHKOMIHNGINHOKOCGNFFKOJLODLIDNJ: JNGMLONFNDB?MKIM6ONOEMOL>NGINODKACGNFKOMJODKI: HNIBHKO NE<O MIKJHGN<O EMO DKIKFDNGNO JKO FHLHK ENJJ;MAAK9MJN3O 6ODKCMLOEMO>LJMEKOEKDBANIHK EMOMENIHMH2OENJOFK==NHHKOD1NOFKHHKFDGM>NOJ;K@: @NGHL3O 6O MIO DLFKO EMO K@@NGHLO CGNFNIHLHLO CNG DKIHKONOCNGOIKANOEMOBILOFKDMNH2<ODNGHM@MDLHK ENJJLO-LIDNJJNGMLO-KAANGDMLJNOELJO&BLJNOGM: FBJHMOJLODKFHMHB?MKINOENJJLOFKDMNH2ONEOMOCKHNGM DKI@NGMHMOLJJ;K@@NGNIHNOMIOBEMNI?LOIKID1 OJ;MI: EMDL?MKINOENJJLOCLGHMHLO7 4 O76OJLOEMD1MLGL?MKIN EMOGNFMENI?LOKOJ;NJN?MKINOEMOEKAMDMJMKOINJODK: ABINOINJO&BLJNO1LOFNENOMJO/GM9BILJNODKACN: HNIHNOCNGOJ;NFNDB?MKINO"LGH8O*( OEMFC8OLHH8ODKE8 CGKD8ODM>86<OCNILOJ;N@@NHHBL?MKINOENJJNODKABIM: DL?MKIMOCGNFFKOJLODLIDNJJNGMLOENJJKOFHNFFKOB@: @MDMK3O.6OJLOFKHHKFDGM?MKINOENMO=NIMHKGMONFNGDNIHM JOCKHNFH2ONOJ;LBHKGM??L?MKINOENJO=MBEMDNOHBHN: JLGNOK>NOJ;K@@NGNIHNOFMLOBIOAMIKGN3 6J;K@@NGHLOEN>NONFFNGNOMIFNGMHLOMIOBILO9BFHL D1MBFL<OLJODBMONFHNGIKOMJODLIDNJJMNGNOLIIKHNG2 NFDJBFM>LANIHN O46OMJOIKANOENJO=MBEMDNOENJ: J;NFNDB?MKINO KO ENJO CGK@NFFMKIMFHLO ENJN=LHK D1NOCGK>>NENG2OLJJLO>NIEMHL3O!6OJLOELHLO@MF: FLHLOCNGOJ;NFLANOENJJNOK@@NGHN O-6OMOELHMOENJJL CNGFKILOD1NOALHNGMLJANIHNO1LOCGK>>NEBHKOLJ ENCKFMHK3OIKIOFLG2ODKIFNIHMHKOLIIKHLGNOINF: FBIOLJHGKONJNANIHK<ONOFCNDMLJANIHNO&BNJJMOD1N CKFFKIKODKIEBGGNOLEOMENIHM@MDLGNOMJO9NINOCNG MJO&BLJNOJ;K@@NGHLO OCGNFHLHL3 ,6J;K@@NGHLOEN>NONFFNGNOLDDKACL=ILHLOELJOEN: CKFMHKOENJJLODLB?MKIN<OCLGMOLJJLOENDMALOCLGHN EJOCGN??KOK@@NGHK<OELO>NGFLGNOHGLAMHNOLFFN=IM DMGDKJLGMO+0+O/)4# 5)7!7.7OMIHNFHLHMOLJJ;K@: @NGNIHN<OD1NOLODBGLOENJJ;K@@NGNIHN<OEK>GLIIK NFFNGNOMIFNGMHMOINJJLOANENFMALO9BFHL3 6J;K@@NGHLOIKIOFLG2ODKIFMENGLHLON@@MDLDN O46 FNOCNG>MNINOKJHGNOMJOHNGAMINOLCCKFMHLANIHNOMI: EMDLHK3O!6OFNO OMI@NGMKGNOLJOCGN??KO9LFN<ON>NI: HBLJANIHNO GM9LFFLHK3O -6O FNO J;K@@NGNIHNO IKI CGNFHLODLB?MKIN<ODKIOJNOAKELJMH2ONOINJJLOAM: FBGLOLCCNILOMIEMDLHN3 (6J;K@@NGHLOFMODKIFMENGLOMGGN>KDL9MJNOLEONDDN: ?MKINOENJJNOMCKHNFMOMIODBM O46OMJO=MBEMDN<OMIOCGN: FNI?LOEMOCM OK@@NGHNO>LJMEN<OEMFCKI=LOJLO=LGL HGLO=JMOK@@NGNIHMO"LGH8O,( ODCD63O!6OMJO=MBEMDN<OIK: IKFHLIHNOJNOK@@NGHN<OKGEMIMOJ;MIDLIHKO"NF8OLGH8 ,($ODCD63O-6OFMLIKOENDKGFMODNIHK>NIHMO=MKGIM ELJJLOFBLOCGNFNIHL?MKINONOJLOFHNFFLOIKIOFML FHLHLOLDDKJHL3 6J;K@@NGNIHNO"KEOMJOCGKDBGLHKGNOJN=LJNOLOIKGAL EN=JMOLGHH8O,(*ONO,( OD8C8D86OEK>G2OCGNFNIHLGFM MJO=MKGIKO@MFFLHKOCGNFFKOMJO/GM9BILJNOEMO.KDGM< FLJLOENJJNOCB99JMD1NOBEMNI?N<OKGNO <%%ONOFF8< CNGOLFFMFHNGNOLJJ;NFLANOENJJNOK@@NGHN3 6J;BEMNI?LOEMO>NIEMHLOFNI?LOMIDLIHKO O@MFFLHL CNGOMJO=MKGIKO">NEMOFKCGL6<ONOFMOHNGG2OCGNFFKOMJ /GM9BILJNO EMO .KDGM<O FLJLO ENJJNO CB99JMD1N BEMNI?N<OKGNO <%%ONOFF83OM>MOFMOCGKDNENG2OLJ: J;NFLANOENJJNOFMI=KJNOK@@NGHN<OLMOFNIFMOEN=JM LGHH8O,($O"CNGOJ;MCKHNFMOMIODBMO>MOFMLOBILOFKJLOK@: @NGHL6ONO,( ODCDO"K>NO>MOFMLIKOCM OK@@NGHN63 *%6MIO CGNFNI?LO EMO CM O K@@NGHNO >LJMEN<O LJJL FHNFFLOBEMNI?LOFMOMI>MHNGLIIKO=JMOK@@NGNIHMOLJJL =LGLOEMODBMOLJJ;LGH8O,( ODCD<OK>NOJNOK@@NGHNOMI LBANIHKOIKIOCKHGLIIKONFFNGNOMI@NGMKGMOLJO '5.O )5 0O!4#58 **6MIODLFKOEMOALIDLHLOL==MBEMDL?MKIN<OJ;MA: CKGHKO>NGFLHKOLOHMHKJKOEMODLB?MKINO>NGG2OGNFHM: HBMHKOLJJLOD1MBFBGLOENJJNOKCNGL?MKIMOEMO>NIEMHL3 *$6MIO DLFKO EMO L==MBEMDL?MKIN<O J;K@@NGNIHN EK>G2<OINJOHNGAMINOCNGNIHKGMKOEMO==8O %OELJ: J;L==MBEMDL?MKIN<O ENCKFMHLGNO MJO GNFMEBK CGN??K<O ENHGLHHKO J;MACKGHKO CNGO DLB?MKINO =M2 >NGFLHK<OMIOBIOJM9GNHHKOEMOENCKFMHKOCKFHLJNOMI: HNFHLHKOLJJLO GKDNEBGLONO>MIDKJLHKOLJJ;KGEMIN ENJO MBEMDNOENJJ;5FNDB?MKIN3 * 6MIODLFKOEMOL==MBEMDL?MKIN<OMIKJHGN<OJ;K@@N: GNIHNOEK>G2O>NGFLGNOINJOANENFMAKOJM9GNHHKOEM ENCKFMHKO"MIHNFHLHKOLJJLO GKDNEBGLONO>MIDKJLHK LJJ;KGEMINO ENJO MBEMDNO ENJJ;NFNDB?MKIN6<O N INJJKOFHNFFKOHNGAMIN<OJ;MACKGHKODKACJNFFM>K ENJJNO FCNFNO DKJJN=LHNO LJJLO >NIEMHL<O D1NO FL: GLIIKOLJJ;BKCKODKABIMDLHNOELJJLODLIDNJJNGML NOD1NOFLGLIIKOINDNFFLGMNOCNGOJ;NALIL?MKIN ENJOENDGNHKOEMOHGLF@NGMANIHK3 * 6MJOALIDLHKO>NGFLANIHKOENJOCGN??KOGNFMEBK INMOHNGAMIMOMIEMDLHMODKACKGHNG2OJLOENDLENI?L ENJJ;L==MBEMDL?MKINO NO JLO CNGEMHLO ENJJLO DLB: ?MKIN<O NEO NFCKGG2O J;L==MBEMDLHLGMKO MILENA: CMNIHNOLJJNODKIFN=BNI?NOEMODBMOLJJ;LGH8O, (ODK 77ODCDO"GMD1MLALHKOELJJ;LGH8O,( <O777ODK8<ODCD63 *,6AL==MKGMO MI@KGAL?MKIMO CKHGLIIKO NFFNGN LD&BMFMHNOCGNFFKOJLODLIDNJJNGMLOENJO/GM9BILJN EMO.KDGMO3 * 6JLO CGNFNIHNO KGEMILI?LO EK>G2O NFFNGNO L@: @MFFLOLJANIKO ,O=MKGIMOCGMALOENJOHNGAMINO@MF: FLHKO CNGO JLO CGNFNIHL?MKINO ENJJNO K@@NGHN< LJJ;4J9KOENJO/GM9BILJNOEMO.KDGMOCNGOHGNO=MKGIM DKIHMIBMOLODBGLOENJJLO-LIDNJJNGMLO:OINJOGMFCNHHK ENJODKA9MILHKOEMFCKFHKOEN=JMOLGHH8O %ONO,(% DCDONOEK>G2ODKIHNINGN OO46O=JMONFHGNAMOMENIHM: @MDLHM>MOENJO9NINOCGN>MFHMOINJJ;LGH8O,,,ODCD3O!6 MJO>LJKGNOENJJ;MAAK9MJNOENHNGAMILHKOLOIKGAL ENJJ;LGH8O, ODCD3O-6OMJOFMHKO7IHNGINHOFBJO&BLJN OCB99JMDLHLOJLOGNJLHM>LOGNJL?MKINOEMOFHMAL3O'6
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
35)4%+378 /4)+26$781.8 (,, 8 .8 /. &&. FJNDNIIORHOR$7027R27+; 8R'F7R OLL>EHPQMBORHQLR1#:11:,&11 7R(;' -'.-R +-28(8+';R7//7R 80(;.7R(8;R'8 80.;R$80;R; -$;/; 7##36)7258782348-67168!.2.8)51 7114//78)5/23+'65148-34)7367878/4&-06)4 404$7'6514*834706''72586184-5) 48%6!!434126 -4387&-067&4125848/5-37404$7'65148618)4 &4125873&7258%68+178/23+22+378536 617367 618&+372+37853%617367*8/-35$$6/258%68262506 7#6062726$68-4380 7&-067&4125848078/5-37404 $7'651484%87//50+27&412481518/717#604* /6258618 6565/78 516)7*8).%78 712 125165* 36-5327258 618 )727/258 !7##36)7268 708 ! 0.8 ( * -.0048 8/+#8 848 8/+#8
+358" . *,,8 ", 8%408-34''5 4334158/6258618 6565/78 516)7* 05).8 43+006858 73+006*836-5327258618)727/25 24334168708! 0.8"(*8-.0078 *8 +7062 8-53'.8 /4&61726$58 )0.8 (*8 7348 , *,,*8 +7062 8 -53 '65148 8+06$4268)0.8 *87348",* ,
+358(.(,"*,,8 ", 8%408-34''5 80(;.7R2 8R7 8++7>R7//8R '8 80.;R +;02; 7/;R2-0(; ;-0; /7R 80(;.7R'80 7R;0270.-?RPMRGEPRIPRFJN= GQHQJ5ROLL>QIODQRHQLLQRIPM@NLQRNCCQJKQROPRIQMIP HQ@LPR OJKK:R 3*,R QR 3*"R GFG?R 7 8++7>R 7/= /> (;80 7R (8/R ( ., .(,"( GNMR PLR FJQBBN INFJORJPFNJKOKN6 8MKJNRLQRNJQR1,?&&RHQLR@PNJMNROMKQGQHQMKQRLO AQMHPKO?R L>NCCQJQMKQR HQAQR FJQIQMKOJQR MQLLO GOMGQLLQJPORHQLLQRQIQGEBPNMPRPDDN<PLPOJPRHN= DOMHORPMR<NLLNR%AQHPRNJHPMOMBORHPRAQMHPKORFQJ LORGNDFPLOBPNMQ9RFQJRFOJKQGPFOJQROLLORAQMHPKO IQMBORPMGOMKNRGNMRL>PMHPGOBPNMQRHQLRFJQBBN G4QRIPRPMKQMHQRNCCJPJQR%G4Q?RORFQMORHPRPMQCCPGO= GPO?RMNMRFNKJ5RQIIQJQRPMCQJPNJQROLRFJQBBNR<OIQ PMHPGOKNRFNG>OMBP:R L>NCCQJKORHQAQRQIIQJQRPMIQJPKORPMR<EIKORG4PEIO? OLRGEPRQIKQJMNRMNMRIOJ5RGNMIQMKPKNROMMNKOJQ MQIIEMROLKJNRQLQDQMKNRQRIFQGPOLDQMKQR)EQLLP G4QRFNIINMNRGNMHEJJQROHRPHQMKPCPGOJQRPLR<QMQ N@@QKKNRHQLL>NCCQJKO6 L>NCCQJKORHQAQRQIIQJQROGGNDFO@MOKORHOLRHQ= FNIPKNRHQLLORGOEBPNMQ?RFOJPROLR1& RHQLRFJQBBN NCCQJKN?R HOR AQJIOJQR GNMR OIIQ@MPR GPJGNLOJP
0-0R.+7' 8+;$;/; RPMKQIKOKPROLL>NCCQJQMKQ? HORPMIQJPJIP?RORGEJORHQLL>NCCQJQMKQ?RMQLLORDQHQ= IPDOR<EIKORGNMKQMQMKQRL>NCCQJKO6 LQRNCCQJKQRPMROEDQMKN?RMQLRGOINRHPRGEPROLL>OJK: 3*"RGFG?RMNMRFNKJOMMNRQIIQJQRPMCQJPNJPROLR" HQLRFJQBBNR<OIQ6R L>O@@PEHPGOKOJPNRHNAJ5RAQJIOJQRPLRIOLHNRQRL>PD= FNJKNRHQLLQRIFQIQRIQGNMHNR)EOMKNRFJQAPIKN MQPRFPDKER1,RQR1"RHQLL>NJHPMOMBORHPRAQMHPKO %NAAQJNRHQFNIPKNRQMKJNR &R@@:RHOLL>O@@PEHPGO=
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
COKKEJORJQLOKPAOROLLQRIFQIQRHPRIKODFORHQPRDO= MPCQIKPRDEJOLPRQRCOKKEJORJQLOKPAOROLLQRIFQIQRHP OCCPIIPNMQRHQPRDOMPCQIKPRDEJOLP9RMNMG4 RDQ= HPOMKQRFE<<LPGOBPNMQRFQJREMORANLKORIER +-= 8..-R 7'.8R %)ENKPHPOMNR ;LR (NDOMPR DQMIPLPR ER8GNMNDPORQR7IKQPMCNOFFOLKPR RIPKP ;MKQJMQK?RMQPR)EOLPRLORFE<<LPGOBPNMQRHQLL>NJHP= MOMBOROAJ5RLEN@NREMPKODQMKQROLLORJQLOBPNMQ HPRIKPDO?R!!!:OIKQPDDN<PLP:PKR=R!!!:FNJKOLQO= IKQ:PKR=R!!!:OIKQ:QE@QMPEI:PK6RPMRFOJKPGNLOJQ 79R COKKEJQR QR GNFPQR HQPR DOMPCQIKPR DEJOLPR HN= AJOMMNRQIIQJQRHQFNIPKOKQRPMR2OMGQLLQJPO?RCPMN OLL>EHPQMBORHPRAQMHPKO6R$9RL>OKKQIKOKNRHPROAAQ= MEKOR FE<<LPGOBPNMQR IELR +- 8..-R7'.8 HNAJ5R QIIQJQR PMAPOKNR DQHPOMKQR CO R HPJQKKO= DQMKQRHOLLORINGPQK5RG4QR@QIKPIGQRPLRIQJAPBPN % QHPOKO@RI:F:O:9RFJQIINRLOR2OMGQLLQJPORHQL .JP<EMOLQ?ROLRM:R& #:,&*",6 1 9NAQRIPRHQ<<ORFJNGQHQJQROLL>PMGOMKN?RQRGPN FQJRPLRGOINRPMRGEPRMNMRIPOMNRFJNFNIKQRNCCQJKQ H>OG)EPIKNR QMKJNR PLR KQJDPMQR IKO<PLPKN?R NAAQJN FQJRPLRGOINRPMRGEPRLQRIKQIIQRMNMRIPOMNRQCCPGOGP OPRIQMIPRHQLL>OJK:R3*1?RNAAQJNRFQJRPLRGOINRPMRGEP IPR AQJPCPG4PR EMOR HQLLQR GPJGNIKOMBQR FJQAPIKQ HOLL>OJK:R3*,?RKQJBNRGNDDO?RNAAQJNRFQJRPLRGOIN? PMCPMQ?R PMR GEPR LOR AQMHPKOR IQMBOR PMGOMKNR MNM O<<PORLEN@NRFQJR)EOLIPOIPROLKJORJO@PNMQR%QI: @OJORPMROEDQMKNRMNMRKQMEKORFQJRDOMGOMBORHP OHQIPNMP?ROJK:R3*"RGFG9?RIPRCPIIORCPMRH>NJORFQJ L>EHPQMBORHQLR% 8(;R'- +79RRPLRFE<<LPGNRPM= GOMKN?RG4QROAAQJJ5RIQGNMHNR)EOMKNRFJQAPIKN MQPR FEMKPR G4QR FJQGQHNMN?R OHR QGGQBPNMQR HP )EOMKNROFFJQIINRIFQGPCPGOKN6 1 9PMRFOJKPGNLOJQ?RGPOIGEMRNCCQJQMKQ?RKJOMMQRPL HQ<PKNJQRQRKEKKPRPRIN@@QKKPRFQJRLQ@@QRMNMROD= DQIIPROLLORAQMHPKO?RHNAJ5RHQFNIPKOJQ?RIPMNROL= L>PMPBPNR QCCQKKPANR HQLL>EHPQMBOR HPR AQMHPKO? HNDOMHOR HPR FOJKQGPFOBPNMQR OLL>PMGOMKNR HO FJQIQMKOJIPRPMR<EIKORG4PEIORORFQMORHPRPJJPGQAP= <PLPK5RHQLL>NCCQJKO6ROLL>QIKQJMNRHQLLOR<EIKORPLRGOM= GQLLPQJQROMMNKQJ5RQIGLEIPAODQMKQ R79RPLRMNDQ HQLR@PEHPGQRHQLL>QIQGEBPNMQRNRHQLRFJNCQIIPNMP= IKORHQLQ@OKNRG4QRFJNAAQHQJ5ROLLORAQMHPKO6R$9 LORHOKORCPIIOKORFQJRL>QIODQRHQLLQRNCCQJKQ6R29RP HOKPR HQLLOR FQJINMOR G4QR DOKQJPOLDQMKQR 4O FJNAAQHEKNROLRHQFNIPKNR6RMNMRIOJ5RGNMIQMKPKN OMMNKOJQRMQIIEMROLKJNRQLQDQMKN?RQRIFQGPOL= DQMKQR)EQLLPRG4QRFNIINMNRGNMHEJJQROHRPHQM= KPCPGOJQRPLR<QMQRFQJRPLR)EOLQRL>NCCQJKOR RFJQIKOKO6 EMPKODQMKQROLL>PIKOMBORHPRFOJKQGPFOBPNMQROLL>PM= GOMKN?R GPOIGEMR NCCQJQMKQR HNAJ5R HQFNIPKOJQ EMOR INDDOR FOJPR OLR 1& R HQLR FJQBBNR <OIQ H>OIKORINFJOPMHPGOKNRORKPKNLNRHPRGOEBPNMQ?RDQ= HPOMKQRGNMIQ@MORPMR2OMGQLLQJPOR=R CCPGPNR8IQ= GEBPNMPR;DDN<PLPOJPR=RHPROIIQ@MPRGPJGNLOJPR0-0 .+7' 8+;$;/;RPMKQIKOKPROLL>NCCQJQMKQ6 ,&9LORHNDOMHORHPRFOJKQGPFOBPNMQROLL>PMGOMKN HNAJ5RJPFNJKOJQRLQRGNDFLQKQR@QMQJOLPK5RHQLL>NC= CQJQMKQ?R L>PMHPGOBPNMQR HQLR GNHPGQR CPIGOLQR Q? MQLL>PFNKQIPR HPR FQJINMOR GNMPE@OKO?R PLR JQ@PDQ FOKJPDNMPOLQRFJQIGQLKNRQHRPRHOKPRHQLRGNMPE@Q6 PMRGOINRHPRNCCQJKORFJQIQMKOKORFQJRGNMKNRQRFQJ MNDQRHPREMORINGPQK5?RHNAJ5RQIIQJQRFJNHNKKN 2QJKPCPGOKNRHQLLOR2OMGQLLQJPOR2NDDQJGPOLQRHOL )EOLQRJPIELKPRLORGNIKPKEBPNMQRHQLLORINGPQK5RQHRP FNKQJPRGNMCQJPKPROLL>NCCQJQMKQRPMREHPQMBORMNMG4 L>PMHPGOBPNMQRHQLLOR OJKPKOR; 76RPMRKOLQRPIKOMBO HNAJ5RQIIQJQROMG4QRPMHPGOKNRIQRL>NCCQJQMKQRPM= KQMHQR OAAOLQJIPR HQLLQR O@QANLOBPNMPR FJQAPIKQ FQJRL>OG)EPIKNRHQLLORFJPDORGOIO6 ,19RLQRCNJDQRHPRFE<<LPGPK5RINMNRLQRIKQIIQRFJQ= APIKQRFQJRLORAQMHPKORIQMBORPMGOMKN?RGNMRLORHPC= CQJQMBOR G4QR PLR KQJDPMQR HPR #3R @PNJMPR HQAQ QIIQJQRGOLGNLOKNRORJPKJNINRHOLLORHOKORHQLL>PM= GOMKN6 ,,9IQRL>NCCQJQMKQRMNMRHPAPQMQRO@@PEHPGOKOJPN? LOR GOEBPNMQR R PDDQHPOKODQMKQR JQIKPKEPKO HNFNR LOR G4PEIEJOR HQLL>PMGOMKN?R IOLANR G4QR LN IKQIINRMNMRO<<PORNDQIINRHPRFOJKQGPFOJQROL DQHQIPDN?RFQJINMOLDQMKQRNRORDQBBNRHPRFJN= GEJOKNJQRIFQGPOLQ?RIQMBORHNGEDQMKOKNRQR@PE= IKPCPGOKNR DNKPAN6R PMR KOLR GOINR LOR GOEBPNMQR JQIKPKEPKORINLNRMQLLORDPIEJORHQPRMNAQRHQGPDP HQLL>PMKQJNRQRLORJQIKOMKQRFOJKQR RKJOKKQMEKOROLLO FJNGQHEJORPMRAPIKORHQLLORCEKEJORHPIKJP<EBPNMQ6 ,"9L>O@@PEHPGOKOJPN?RPMAQGQ?RHNAJ5RAQJIOJQRPL IOLHNRQRL>PDFNJKNRHQLLQRIFQIQRIQGNMHNR)EOMKN FJQAPIKNROPRFEMKPR1,RQR1"?RCQJDORJQIKOMHNRLO HQGOHQMBORHPRGEPROLL>OJK:R3 *RGFGRPMRGOINRHP DOMGOKNRHQFNIPKN6 ,#9OHR PMGOMKNR OAAQMEKN?R FNKJOMMNR QIIQJQ FJQIQMKOKQRPMR2OMGQLLQJPORNCCQJKQRHPROG)EPIKN QMKJNRPLRKQJDPMQRHPR@PNJMPRHPQGP?RHORFJQIQMKOJIP MQLLQRCNJDQRHPRGEPROLL>OJK:R3*1RGFGR%GCJ:RFEMKPR,? "RQR#9?RDORMNMRIOJOMMNRQCCPGOGPRIQRPLRFJQBBN NCCQJKNRMNMRIOJ5RIEFQJPNJQRHPROLDQMNR1 3RIE= FQJPNJQR JPIFQKKNR OR )EQLLNR JO@@PEMKNR PMR IQHQ H>PMGOMKNR%OJK:R3 #RGFG9RQRIQRL>NCCQJKORMNMRIOJ5 OGGNDFO@MOKORHOLRHQFNIPKNRHPREMORINDDO FOJPROLRHNFFPNRHQLLORGOEBPNMQRAQJIOKORFQJRFOJ= KQGPFOJQROLL>PMGOMKN6 ,39IERKOLPRNCCQJKQRPLR@PEHPGQ?RAQJPCPGOKNMQRLORJQ= @NLOJPK5?RPMH GQRLOR@OJO?RGEPRFNIINMNRFOJKQGP= FOJQ?R NLKJQR @LPR NCCQJQMKPR PMR OEDQMKNR Q L>O@@PEHPGOKOJPN?ROMG4QR@LPRNCCQJQMKPROLRFJQGQ= HQMKQRPMGOMKNRG4Q?RQMKJNRPLRKQJDPMQROFFNIPKO= DQMKQRCPIIOKNRO<<POMNRPMKQ@JOKNRLORGOEBPNMQ
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
).( 0.""- .*./,+0/%. .(/0/0%+ #- .(-0%.0%+,,/(+0/*."+)(/,.0#- (/0/*0#./)(+,,/0%.0&)0 / ,.!/(-0/0(,+0#./).0 &-,.0(+,,/ -*(,+0"/) /,%/0 .(-0)+*0 -"&)+0%.0 -! !+**/0 -).!/0/**/0 ./0 /))-*/,-0 )! 0,.#-, (/(-0 )+*0 0 - *.-0 %.0 "/##/0 #/,(.!+**/0 0 & 0 0 0%.0" $0 &,-0 $ ' ''0
&,-0 $ ''0
&,-0 $ ''
).( 0 .""- .*./,+0 #+,0 !. .*+ / .(/ .-)+0#- (/0/*0 +!-)%-0#./)-0%.0&) / ,.!/(-0/0(,+0#./).0 &-,.0(+,,/0-*(,+0"/) /,%/0 .(-0)+*0 -"&)+0%.0 -!!+**/0/**/0 ./ /))-*/,-0 )! 0,.#-,(/(-0)+*0 0 - *.%.0 "/##/0 0 #/,(.!+**/0 0 & 0 0 0 %. " $0 &,-0 $ '' ''0
&,-0 $ ' ''0
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
IPMM?PKL:S4*,@SLRKCOSHOEEP@SOBBRKOSGRKSQMSHPJO@ QNDQNR@S QNS HFQS MPS BRNIQLPS JRNCPS QNHPNLOS NON P<<QPSMFOAOSGRKS(FPMJQPJQSPMLKPSKPAQONRS&RJ: APKPSQNSPFERNLOSNONSLRNFLPSGRKSEPNHPNCPSIQ PIRJQONQ@SPKL:S4*!SHGH;@SJQSDQJJPSDQNSI?OKPSGRK M?FIQRNCPSIRMS&#9+=S'0$.8;SSQMSGF<<MQHOSQN> HPNLO@SH5RSPBBRKK6SJRHONIOS(FPNLOSGKRBQJLO NRQS GFNLQS H5RS GKRHRIONO@S PIS RHHRCQONRS IQ (FPNLOSPGGKRJJOSJGRHQDQHPLO7 1 ;QNSGPKLQHOMPKR@SHQPJHFNSODDRKRNLR@SLKPNNRSQM IR<QLOKRSRSLFLLQSQSJOAARLLQSGRKSMRAARSNONSPE> ERJJQSPMMPSBRNIQLP@SIOBK6SIRGOJQLPKR@SJQNOSPM> M?QNQCQOS RDDRLLQBOS IRMM?FIQRNCPS IQS BRNIQLP@ IOEPNIPS IQS GPKLRHQGPCQONRS PMM?QNHPNLOS IP GKRJRNLPKJQSQNS<FJLPSH5QFJPSPSGRNPSIQSQKKQHRBQ> <QMQL6SIRMM?ODDRKLP7SPMM?RJLRKNOSIRMMPS<FJLPSQMSHPN> HRMMQRKRSPNNOLRK6SRJHMFJQBPERNLR S8;SQMSNOER IRMSAQFIQHRSIRMM?RJRHFCQONRSOSIRMSGKODRJJQONQ> JLPSIRMRAPLOSH5RSGKOBBRIRK6SPMMPSBRNIQLP7S%; MPSIPLPSDQJJPLPSGRKSM?RJPERSIRMMRSODDRKLR7S2;SQ IPLQS IRMMPS GRKJONPS H5RS EPLRKQPMERNLRS 5P GKOBBRIFLOSPMSIRGOJQLOS7SNONSJPK6SHONJRNLQLO PNNOLPKRSNRJJFNSPMLKOSRMRERNLO@SRSJGRHQPM> ERNLRS(FRMMQSH5RSGOJJONOSHONIFKKRSPISQIRN> LQDQHPKRSQMS<RNRSGRKSQMS(FPMRSM?ODDRKLPS SGKRJLPLP7 FNQLPERNLRSPMM?QJLPNCPSIQSGPKLRHQGPCQONRSPMM?QN> HPNLO@S HQPJHFNS ODDRKRNLRS IOBK6S IRGOJQLPKR FNPS JOEEPS GPKQS PMS 1) S IRMS GKRCCOS <PJR I?PJLPSJOGKPQNIQHPLOSPSLQLOMOSIQSHPFCQONR@SER> IQPNLRSHONJRANPSQNS2PNHRMMRKQPS>S DDQHQOS9JR> HFCQONQS=EEO<QMQPKQS>SIQSPJJRANQSHQKHOMPKQS/0/ -.8' 9.=%=3=SQNLRJLPLQSPMM?ODDRKRNLR7 ,);MPSIOEPNIPSIQSGPKLRHQGPCQONRSPMM?QNHPNLO IOBK6SKQGOKLPKRSMRSHOEGMRLRSARNRKPMQL6SIRMM?OD> DRKRNLR@S M?QNIQHPCQONRS IRMS HOIQHRS DQJHPMRS R@ NRMM?QGOLRJQS IQS GRKJONPS HONQFAPLP@S QMS KRAQER GPLKQEONQPMRSGKRJHRMLOSRISQSIPLQSIRMSHONQFAR7 QNSHPJOSIQSODDRKLPSGKRJRNLPLPSGRKSHONLOSRSGRK NOERSIQSFNPSJOHQRL6@SIOBK6SRJJRKRSGKOIOLLO 2RKLQDQHPLOSIRMMPS2PNHRMMRKQPS2OEERKHQPMRSIPM (FPMRSKQJFMLQSMPSHOJLQLFCQONRSIRMMPSJOHQRL6SRISQ GOLRKQSHONDRKQLQSPMM?ODDRKRNLRSQNSFIQRNCPSNONH5 M?QNIQHPCQONRSIRMMPS$PKLQLPS=#87SQNSLPMRSQJLPNCP IOBK6SRJJRKRSPNH5RSQNIQHPLOSJRSM?ODDRKRNLRSQN> LRNIRS PBBPMRKJQS IRMMRS PARBOMPCQONQS GKRBQJLR GRKSM?PH(FQJLOSIRMMPSGKQEPSHPJP7 ,1;SMRSDOKERSIQSGF<<MQHQL6SJONOSMRSJLRJJRSGKR> BQJLRSGRKSMPSBRNIQLPSJRNCPSQNHPNLO@SHONSMPSIQD> DRKRNCPS H5RS QMS LRKEQNRS IQS 4S AQOKNQS IRBR RJJRKRSHPMHOMPLOSPSKQLKOJOSIPMMPSIPLPSIRMM?QN> HPNLO7 ,,;JRSM?ODDRKRNLRSNONSIQBQRNRSPAAQFIQHPLPKQO@ MPS HPFCQONRS S QEERIQPLPERNLRS KRJLQLFQLP IOGOS MPS H5QFJFKPS IRMM?QNHPNLO@S JPMBOS H5RS MO JLRJJOSNONSP<<QPSOERJJOSIQSGPKLRHQGPKRSPM ERIRJQEO@SGRKJONPMERNLRSOSPSERCCOSIQSGKO> HFKPLOKRSJGRHQPMR@SJRNCPSIOHFERNLPLOSRSAQF> JLQDQHPLOS EOLQBO7S QNS LPMS HPJOS MPS HPFCQONRS KRJLQLFQLPSJOMOSNRMMPSEQJFKPSIRQSNOBRSIRHQEQ IRMM?QNLRKOSRSMPSKRJLPNLRSGPKLRS SLKPLLRNFLPSPMMP GKOHRIFKPSQNSBQJLPSIRMMPSDFLFKPSIQJLKQ<FCQONR7 ,!;M?PAAQFIQHPLPKQO@SQNBRHR@SIOBK6SBRKJPKRSQM JPMIOSRSM?QEGOKLOSIRMMRSJGRJRSJRHONIOS(FPNLO GKRBQJLOSPQSGFNLQS1,SRS1!@SDRKEPSKRJLPNIOSMP IRHPIRNCPSIQSHFQSPMM?PKL:S4 *SHGHSQNSHPJOSIQ EPNHPLOSIRGOJQLO7 , ;S PIS QNHPNLOS PBBRNFLO@S GOLKPNNOS RJJRKR GKRJRNLPLRSQNS2PNHRMMRKQPSODDRKLRSIQSPH(FQJLO RNLKOSQMSLRKEQNRSIQSAQOKNQSIQRHQ@SIPSGKRJRNLPKJQ NRMMRSDOKERSIQSHFQSPMM?PKL:S4*1SHGHS&HDK:SGFNLQS,@ !SRS ;@SEPSNONSJPKPNNOSRDDQHPHQSJRSQMSGKRCCO ODDRKLOSNONSJPK6SJFGRKQOKRSIQSPMERNOS1 4SJF> GRKQOKRS KQJGRLLOS PS (FRMMOS KPAAQFNLOS QNS JRIR I?QNHPNLOS&PKL:S4 SHGH;SRSJRSM?ODDRKLPSNONSJPK6 PHHOEGPANPLPSIPMSIRGOJQLOSIQSFNPSJOEEP GPKQSPMSIOGGQOSIRMMPSHPFCQONRSBRKJPLPSGRKSGPK> LRHQGPKRSPMM?QNHPNLO7 ,4;JFSLPMQSODDRKLRSQMSAQFIQHR@SBRKQDQHPLONRSMPSKR> AOMPKQL6@SQNI HRSMPSAPKP@SHFQSGOJJONOSGPKLRHQ> GPKR@S OMLKRS AMQS ODDRKRNLQS QNS PFERNLOS R M?PAAQFIQHPLPKQO@SPNH5RSAMQSODDRKRNLQSPMSGKRHR> IRNLRSQNHPNLOSH5R@SRNLKOSQMSLRKEQNRSPGGOJQLP> ERNLRSDQJJPLOSP<<QPNOSQNLRAKPLOSMPSHPFCQONR NRMMPSEQJFLPSIQSHFQSPMSGFNLOS, ;7 , ;JRSNRJJFNOSIRAMQSODDRKRNLQSQNSPFERNLOSGPK> LRHQGPS PMMPS APKPS QNIRLLPS PS NOKEPS IRMS LRKCO HOEEP@SM?PAAQFIQHPCQONRSIQBRNLPSIRDQNQLQBP@ RISQMSAQFIQHRSGKONFNHQPSPSHPKQHOSIRAMQSODDRKRNLQ IQSHFQSPMSGKQEOSHOEEP@SJPMBOSH5RSKQHOKKPSFN IOHFERNLPLOSRSAQFJLQDQHPLOSEOLQBO@SMPSGRKIQLP IRMMPS HPFCQONR@S QMS HFQS QEGOKLOS S LKPLLRNFLO HOERSKQNBRNQRNLRSPSLFLLQSAMQSRDDRLLQSIRMM?RJRHF>
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
&&, FJNDNIIORHOR #9509R%3%369/;R+<R%36<*1;59R OLL?EHPQMBORHQLR- :--:')- 9R+<*%3*13 %/30;+;/*<R9669R ;5+<19R+;<R *; !;51<R#;5<R< 3#<6< & # # 274 97&&6"7178359(74892519 6 &.259*79 6//51189 627/8981189 789 ,9 837 "81*79 2,9 )9 /6(474.7489 *89 .289 -63%7625 8*7"7489 89 /7 7159 8"748%76259 8*9 .29 -7826 .637945338937-63484892519 # 981189-834748 +!9 6 1769 *79 &8--89 !)9 -8347/51159 + + 9 5 + + )9 /629 8225((69 .29 45335269 37-634846 81189-8347489 $'!9 6 1769*79&8--89 !)9-8347 /51189'0 )9262/ 9.289-7//6189/6(43.%7625 729&.384.389*79&8446279729/81/5(43.%%69*7 /5&52469 7"3846959/6-534.389/62918(4359*7 5453274 #& & & # # #.36 +!,000)00 %!"$ "&!% & " % #.369+,!00)00 %!"$ "&!% &$!%$% #.369',$$0)009 ;5+<19R0 ;R9 ;//9?R966;R *; !;51<R%/<50<%96<R035+< <35< 69R ;5+<19R*;5 9R<509513>RPMRGEPRIPRFJN= GQHQJ2ROLL?QIODQRHQLLQRIPM@NLQRNCCQJKQROPRIQMIP HQ@LPR OJKK:R .('R QR .( R GFG>R 9 ;//9?R 96= 6?!+<;5 9R+;6R+ ,0$,'0+', ;MKJNRLQRNJQR-'>))RHQLR@PNJMNROMKQGQHQMKQRLO AQMHPKO>R L?NCCQJQMKQR HQAQR FJQIQMKOJQR MQLLO GOMGQLLQJPORHQLLQRQIQGEBPNMPRPDDN8PLPOJPRHN= DOMHORPMR8NLLNR&AQHPRNJHPMOMBORHPRAQMHPKORFQJ LORGNDFPLOBPNMQ7RFQJRFOJKQGPFOJQROLLORAQMHPKO IQMBORPMGOMKNRRGNMRL?PMHPGOBPNMQRHQLRFJQBBN G,QRIPRPMKQMHQRNCCJPJQR&G,Q>RORFQMORHPRPMQCCPGO= GPO>RMNMRFNKJ2RQIIQJQRPMCQJPNJQROLRFJQBBNR8OIQ PMHPGOKNRFNG?OMBP:RRL?NCCQJKORHQAQRQIIQJQRPMIQ= JPKORPMR8EIKORG,PEIO>ROLRGEPRQIKQJMNRMNMRIOJ2 GNMIQMKPKNROMMNKOJQRMQIIEMROLKJNRQLQDQMKNRQ IFQGPOLDQMKQR"EQLLPRG,QRFNIINMNRGNMHEJJQROH PHQMKPCPGOJQRPLR8QMQRN@@QKKNRHQLL?NCCQJKO4RL?NC= CQJKORHQAQRQIIQJQROGGNDFO@MOKORHOLRHQFN= IPKNRHQLLORGOEBPNMQ>RFOJPROLR-) RHQLRFJQBBN NCCQJKN>R HOR AQJIOJQR GNMR OIIQ@MPR GPJGNLOJP 535R1/9* ;/<#<6< RPMKQIKOKPROLL?NCCQJQMKQ>
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
JFNSPMLKOSRMRERNLOASRSJGRHQPMERNLRS(FRMMQSH4R GOJJPNOSHONIFKKRSPISQIRNLQDQHPKRSQMS=RNRSGRK QMS(FPMRSM<ODDRKLPS SGKRJLPLP8 3:M<ODDRKLPSIRBRSRJJRKRSPHHOEGP@NPLPSIPMSIR? GOJQLOSIRMMPSHPFCQONRASGPKQSPMMPSIRHQEPSGPKLR IRMSGKRCCOSODDRKLOASIPSBRKJPKRSHONSPJJR@NQ HQKHOMPKQSNONSLKPJDRKQ=QMQSQNLRJLPLQSPMM<ODDRKRNLRA H4RASPSHFKPSIRMM<ODDRKRNLRASIOBKPNNOSRJJRKR QNJRKQLQSNRMMPSERIRJQEPS=FJLP8 :SM<ODDRKLPSNONSJPK6SHONJQIRKPLPSRDDQHPHR S5: JRSGRKBQRNRSOMLKRSQMSLRKEQNRSPGGOJQLPERNLRSQN? IQHPLO8S#:SJRS SQNDRKQOKRSPMSGKRCCOS=PJRASRBRN? LFPMERNLRS KQ=PJJPLO8S 2:S JRS M<ODDRKRNLRS NON GKRJLPSHPFCQONRASHONSMRSEOIPMQL6SRSNRMMPSEQ? JFKPSPGGRNPSQNIQHPLR8 +:M<ODDRKLPSJQSHONJQIRKPSQKKRBOHP=QMRASPISRHHR? CQONRSIRMMRSQGOLRJQSQNSHFQ S5:SQMS@QFIQHRASQNSGKR? JRNCPSIQSGQ SODDRKLRSBPMQIRASIQJGON@PSMPS@PKP LKPS@MQSODDRKRNLQS&PKL>S3+$SH>G>H>:8S#:SQMS@QFIQHRA NONOJLPNLRSMRSODDRKLRASOKIQNQSM<QNHPNLOS&RJ>SPKL> 3+-SH>G>H>:8S2:SJQPNOSIRHOKJQSHRNLOBRNLQS@QOKNQ IPMMPSJFPSGKRJRNLPCQONRSRSMPSJLRJJPSNONSJQP JLPLPSPHHOMLP8 :M<ODDRKRNLRS&OISQMSGKOHFKPLOKRSMR@PMRSPSNOKEP IR@MQSPKLL>S3+1SRS3+ SH>G>H>:SIOBK6SGKRJRNLPKJQA QMS@QOKNOSDQJJPLOASGKRJJOSQMS0KQ=FNPMRSIQS.OHKQA JPMPSIRMMRSGF==MQH4RSFIQRNCRASOKRS A**SRSJJ>A GRKSPJJQJLRKRSPMM<RJPERSIRMMRSODDRKLR8 :M<FIQRNCPSIQSBRNIQLPSJRNCPSQNHPNLOS SDQJJPLP GRKSQMS@QOKNOS&BRIQSJOGKP:SRSJQSLRKK6SGKRJJOSQM 0KQ=FNPMRS IQS .OHKQAS JPMPS IRMMRS GF==MQH4R FIQRNCRASOKRS A**SRSJJ>8SQBQSJQSGKOHRIRK6SPM? M<RJPERSIRMMRSJQN@OMRSODDRKLRASPQSJRNJQSIR@MQ PKLL>S3+-S&GRKSM<QGOLRJQSQNSHFQSBQSJQPSFNPSJOMPSOD? DRKLP:SRS3+$SHOI>SGKOH>SHQB>S&OBRSBQSJQPNOSGQ ODDRKLR:8 1*:QNS GKRJRNCPS IQS GQ S ODDRKLRS BPMQIRAS PMMP JLRJJPSFIQRNCPSJQSQNBQLRKPNNOS@MQSODDRKRNLQSPMMP @PKPSIQSHFQSPMM<PKL>3+$SH>G>H>ASOBRSMRSODDRKLRSQN PFERNLOSNONSGOLKPNNOSRJJRKRSQNDRKQOKQSPMS$ IRMSGKRCCOS=PJR8 11:QNSHPJOSIQSEPNHPLPSP@@QFIQHPCQONRASM<QE? GOKLOSBRKJPLOSPSLQLOMOSIQSHPFCQONRSBRKK6SKRJLQ? LFQLOSPMMPSH4QFJFKPSIRMMRSOGRKPCQONQSIQSBRNIQLP8 1-:QNS HPJOS IQS P@@QFIQHPCQONRAS M<ODDRKRNLR IOBK6ASNRMSLRKEQNRSGRKRNLOKQOSIQS@@>S *SIPM? M<P@@QFIQHPCQONRAS IRGOJQLPKRS QMS KRJQIFO GKRCCOAS IRLKPLLOS M<QEGOKLOS GRKS HPFCQONRS @Q6 BRKJPLOASQNSFNSMQ=KRLLOSIQSIRGOJQLOSGOJLPMRSQN? LRJLPLOSPMMPS KOHRIFKPSRSBQNHOMPLOSPMM<OKIQNR IRMS QFIQHRSIRMM<9JRHFCQONR8 1$:QNSHPJOSIQSP@@QFIQHPCQONRASQNOMLKRASM<ODDR? KRNLRSIOBK6SBRKJPKRSNRMSERIRJQEOSMQ=KRLLOSIQ IRGOJQLOS&QNLRJLPLOSPMMPS KOHRIFKPSRSBQNHOMPLO PMM<OKIQNRS IRMS QFIQHRS IRMM<9JRHFCQONR:AS R NRMMOSJLRJJOSLRKEQNRASM<QEGOKLOSHOEGMRJJQBO GRKSMRSJGRJRSHOMMR@PLRSPMMPSBRNIQLPASH4RSJP? KPNNOSPMM<FOGOSHOEFNQHPLRSIPMMPSHPNHRMMRKQP RSH4RSJPKPNNOSNRHRJJPKQRSGRKSM<REPNPCQONR IRMSIRHKRLOSIQSLKPJDRKQERNLO8 1 :QMSEPNHPLOSBRKJPERNLOSIRMSGKRCCOSKRJQIFO NRQSLRKEQNQSQNIQHPLQSHOEGOKLRK6ASMPSIRHPIRNCP IPMM<P@@QFIQHPCQONRS RS MPS GRKIQLPS IRMMPS HPF? CQONRAS RIS RJGOKK6S M<P@@QFIQHPLPKQOS QNPIRE? GQRNLRSPMMRSHONJR@FRNCRSIQSHFQSPMM<PKL>S3 +SHO ;;S H>G>H>S &KQH4QPEPLOS IPMM<PKL>S 3+ AS $ S HO>A H>G>H>:8 13:EP@@QOKQS QNDOKEPCQONQS GOLKPNNOS RJJRKR PH(FQJQLRSGKRJJOSMPSHPNHRMMRKQPSIRMS0KQ=FNPMR IQS.OHKQ8 1 :MPS GKRJRNLRS OKIQNPNCPS IOBK6S RJJRKRS PD? DQJJPASPMERNOS 3S@QOKNQSGKQEPSIRMSLRKEQNRSDQJ? JPLOS GRKS MPS GKRJRNLPCQONRS IRMMRS ODDRKLRA PMM<PM=OSIRMS0KQ=FNPMRSIQS.OHKQSGRKSLKRS@QOKNQ HONLQNFQSPSHFKPSIRMMPS2PNHRMMRKQPS SNRMSKQJGRLLO IRMSHOE=QNPLOSIQJGOJLOSIR@MQSPKLL>S *SRS3+* H>G>H>S?SRSIOBK6SHONLRNRKR S5:S@MQSRJLKREQSQIRN? LQDQHPLQBQSIRMS=RNRSGKRBQJLQSNRMM<PKL>333SH>G>H>8 #:S QMS BPMOKRS IRMM<QEEO=QMRS S IRLRKEQNPLOS P NOKEPSIRMM<PKL>S3 SH>G>H>8S2:SQMSJQLOS;LRKNRLSJFM (FPMRS S GF==MQHPLPS MPS KRMPLQBPS KRMPCQONRS IQ JLQEP8S':SQMSNOERSRISQMSKRHPGQLOSLRMRDONQHOSIRM HFJLOIRS NOEQNPLOS QNS JOJLQLFCQONRS IRMS IR=Q? LOKRASHONSM<PBBRKLQERNLOSH4RSEP@@QOKQSQNDOK? EPCQONQS GOJJONOS RJJRKRS DOKNQLRS IPMMP HPNHRMMRKQPSIRMS0KQ=FNPMRSOSIPMSGKRIRLLOSHF? JLOIR8 1+:MPS JLRJJPS OKIQNPNCPAS JREGKRS 3S @QOKNQ GKQEPSIRMSLRKEQNRSGRKSMPSGKRJRNLPCQONRSIRMMR ODDRKLRASIOBK6SRJJRKRSGF==MQHPLPASPSHFKPSIRM HFJLOIRS @QFIQCQPKQOAS HONS HOJLOS PS HPKQHOS IRM HKRIQLOKRSGKOHRIRNLRSOSIR@MQSPMLKQSHKRIQLOKQASOB? BRKOSPSHPKQHOSIRMMPS2FJLOIQPASJRSQNSPLLQBOS?SPF? LOKQCCPNIOSQMSHFJLOIRS@QFIQCQPKQOSPMSGKRMQRBO IR@MQSQEGOKLQSNRHRJJPKQSGRKSMPSGF==MQHQL6SIPMSMQ? =KRLLOSIRMMPSGKOHRIFKPS?SJQPSERIQPNLRSEPNQ? DRJLQSEFKPMQSIPSPDDQ@@RKJQSNRQS2OEFNQSQNIQHPLQ NRMM<OKIQNPNCPSIQSBRNIQLPSGQ SKRHRNLRSQNSHFQS HONLRNFLPSMPSIRJHKQCQONRSIRQSMOLLQS&QNBQLPNIO PMM<FOGOSQMSHKRIQLOKRSPISPMMR@PKRSHOGQPSIQSN>S1 EPNQDRJLOSEFKPMR8SDPLLFKPSKRMPLQBPSPMMRSJGRJR IQSJLPEGPSIRQSEPNQDRJLQSEFKPMQSRSDPLLFKPSKRMP? LQBPSPMMRSJGRJRSIQSPDDQJJQONRSIRQSEPNQDRJLQSEF? KPMQ:SNONH4 SERIQPNLRSGF==MQHPCQONRSGRKSFNP BOMLPSJFS ), 900,S5%09S&(FOLQIQPNOS;MS'O? EPNQS SERNJQMQS FQ9HONOEQPSRS5JLR;NDOPG? GPMLQS S %QLQS ;NLRKNRLS """>PJLRQEEO=QMQ>QLA
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
IRMMPS HPFCQONRAS QMS HFQS QEGOKLOS S LKPLLRNFLO HOERSKQNBRNQRNLRSPSLFLLQS@MQSRDDRLLQSIPMM<RJRHF? CQONR8 -+:PMMPS ERIRJQEPS FIQRNCPS DQJJPLPS GRKS M<QN? HPNLOASOBRSMOSJLRJJOSBPIPSIRJRKLOASJQSGKOHR? IRK6SPSBPMFLPKRSMRSQJLPNCRSIQSPJJR@NPCQONR RBRNLFPMERNLRSIRGOJQLPLRASOGGFKRSPISPIOL? LPKRSQSGKOBBRIQERNLQSIQSHFQSPMM<PKL>S3 1SH>G>H> ;MS QFIQHRSIRMM<9JRHFCQONR ?S ;2;,S9%92 ;,/;S? %;S)9/'9S/,0, &PQSJRNJQSIRMSHOE=QNPLOSIQJGOJLOS IP@MQSPKLL>S *SRS3+*: H4RSQMS QFIQHRSIRMM79JRHFCQONRA % % NRMMPS ,.'+$ ,01 #+' -/ 01*)1 ! 1 ) #) ;EE>SGKOEOJJPSIPS25);25. PMM7FIQRNCPSIRMS*$>1->-*11 5S';% ,%0,S ),29'9)%;S5..5S !9/';05S'9;S%9 9/0;S#9/;S; ,#;.; % % */- 1 / ."/%/0,+(1 '. &,+* #/ 01$/1'.,-+1'. *+(1&.#-010%1&/0*.1#+ /*-+,,0-.1$/1 0"",/'0-.101-,+1&/0*/1 )-)1+ &/0*.1/*-+,,0-.1#/-.1/*1 /$+,*.(1')$01 0 ,/*.(10$/"/-0101$+&.#/-.(1,/&.,-0-01*+%1'0 -0#-.1 0"",/'0-/1$/1 /$+,*.10%1 %)1! (1&)%%0 ! 1# "1 (1 0-)1 !(1'%)1 (1'.*#)1 )1! 1 $!!"% # $% # # ,.1 ) ( 1 $ " "% $ % # ! " $ % 1$+%1&,+ . % % */- 1 / ."/%/0,+(1 '. &,+* #/ 01$/1'.,-+1'. *+(1&.#-010%1&/0*.1-+,,0 $/1 0"",/'0-.101-,+1&/0*/1 )-)1+1&/0*.1/*-+, ,0-.1#/-.1/*1 /$+,*.(1')$01 0,/*.(10$/"/-010 $+&.#/-.(1,/&.,-0-01*+%1'0-0#-.1 0"",/'0-/ $/1 /$+,*.10%1 %)1! (1&)%%01! 1# "1!(1 0-) !(1'%)1 (1'.*#)1 )1 ! $!!"% # $% # # % ,.1 ) ( 1 $ " "% $ % # ! " $ % 1$+%1&,+ . % */- 1 / ."/%/0,+(1 '. &,+* #/ 01$/1'.,-+1'. *+(1&.#-010%1&/0*.1-+,,0 $/1 0"",/'0-.101-,+1&/0*/1 )-)1+1&/0*.1/*-+, ,0-.1#/-.1/*1 /$+,*.(1')$01 0,/*.(10$/"/-010 $+&.#/-.(1,/&.,-0-01*+%1'0-0#-.1 0"",/'0-/ $/1 /$+,*.10%1 %)1! (1&)%%01! 1# "1 (1 0-) !(1'%)1 (1'.*#)1 )1! S $!!"% # $% # # ,.1 ) ! ( 1 $ " "% $ % # ! " $ 1$+%1&,+ . % */- 1 / ."/%/0,+(1 '. &,+* #/ 01$/1'.,-+1'. *+(1'.#-/- +*-+1'.,&. 0 / *-.1 01 &/0*.1 -+,,01 +1 &,/ .1 &/0*.1 $/ 0"",/'0-.101-,+1&/0*/1 )-)1+1&/0*.1/*-+,,0-. #/-.1/*1 /$+,*.(1')$01 0,/*.(10$/"/-0101$+ &.#/-.(1,/&.,-0-01*+%1'0-0#-.1 0"",/'0-/1$/ /$+,*.10%1 %)1! (1&)%%01! 1# "1 (1 0-)1 !( '%)1 (1'.*#)1 )1 S $!!"% # $% # # ,.1 ) ( 1 $ " "% $ % # ! " $ 1$+%1&,+ . % */- 1 / ."/%/0,+(1 '. &,+* #/ 01 $/1 '.,-+1 '. *+(1 &.#-01 0%1 &,/ . &/0*.1$/1 0"",/'0-.101-,+1&/0*/1 )-)1+1&/0*. /*-+,,0-.1#/-.1/*1 /$+,*.(1')$01 0,/*.(10$/ "/-0101$+&.#/-.(1,/&.,-0-01*+%1'0-0#-.1 0" ",/'0-/1$/1 /$+,*.10%1 %)1! (1&)%%01! 1# " (1 0-)1/*1'.,#.1$/1'.#-, /.*+(1+1&)%%01! # "1 (1 0-)1 !(1'%)1 (1'.*#)1 ( 1 0*/ $!!"% # $% # # ,.1 !) ( $ " "% $ % # ! " $ % 1$+%1&,+ . % */- 1 / ."/%/0,+(1 '. &,+* #/ 01$/1'.,-+1'. *+(1&.#-010%1#+'.*$. &/0*.1$/1 0"",/'0-.101-,+1&/0*/1 )-)1+1&/0*. /*-+,,0-.1#/-.1/*1 /$+,*.(1')$01 0,/*.(10$/ "/-0101$+&.#/-.(1,/&.,-0-01*+%1'0-0#-.1 0" ",/'0-/1$/1 /$+,*.10%1 %)1! (1&)%%01! 1# " (1 0-)1 !(1 '%0##+1 (1 '.*#)1 ( 1 0*/(1 + &0,-)%%01! 1# "1 (1'0-)1 !(1'%)1 (1'.*#)1 0*/ $!!"% # $% # # ,.1 )! ( 1 $ " "% $ % # ! " $ 1$+%1&,+ . !9/';05S2 9S5!!9))57S5..9S %9 9/0;S );/2; 5.;S2,/'; ;,/; .5S!9/';05S%9/ 5S;/25/0,ASQNSHFQSJQSGKO? HRIRK6SPMM7RJPERSIRMMRSJQN@OMRSODDRKLRSPQSJRNJQ IR@MQS PKLL>S 3+-S RS 3+$S HGHAS 5!!9))57S 5.? .7 ';9/ 5S '9.S ! ) )! !1 HONS QMS GKRCCO JOGKPSKQGOKLPLO8 9NLKOSMRSOKRS1-A**SIRMS@QOKNOSPNLRHRIRNLRSMP BRNIQLPAS M7ODDRKRNLRS IRBRS GKRJRNLPKRS NRMMP HPNHRMMRKQPSIRMMRSRJRHFCQONQSQEEO=QMQPKQSIO? EPNIPSQNS=OMMOS&BRIQSOKIQNPNCPSIQSBRNIQLPSGRK MPSHOEGQMPCQONR:SGRKSGPKLRHQGPKRSPMMPSBRNIQLP JRNCPSQNHPNLOSSHONSM7QNIQHPCQONRSIRMSGKRCCO H4RSJQSQNLRNIRSODDKQKRS&H4RASPSGRNPSIQSQNRDDQHP? HQPASNONSGOLK6SRJJRKRSQNDRKQOKRSPMSGKRCCOS=PJR QNIQHPLOSGOH7PNCQ>S M7ODDRKLPSIRBRSRJJRKRSQNJRKQLPSQNS=FJLPSH4QFJPA PMSHFQSRJLRKNOSNONSJPK6SHONJRNLQLOSPNNOLPKR NRJJFNSPMLKOSRMRERNLOSRSJGRHQPMERNLRS(FRMMQ H4RSGOJJONOSHONIFKKRSPISQIRNLQDQHPKRSQMS=RNR O@@RLLOSIRMM7ODDRKLP8 M7ODDRKLPSIRBRSRJJRKRSPHHOEGP@NPLPSIPMSIR? GOJQLOSIRMMPSHPFCQONRASGPKQSPMS1* SIRMSGKRCCO ODDRKLOAS IPS BRKJPKRS HONS PJJR@NQS HQKHOMPKQ /,/S0)5% 9);#;.; SQNLRJLPLQSPMM7ODDRKRNLRA IPSQNJRKQKJQASPSHFKPSIRMM7ODDRKRNLRASNRMMPSERIR?
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
$4//1/(5 1-&4/235#/ #/3*45*1/%3%2(/ 40 %32153/5 1*-305 345 34*1&15 422(122305/,5 0 3/5*424%215 4''-3*4235 3524)(5 1&#/(54)5 ), + 05$4-2,))45!+""05%#'5"05 42,5 5 *1/%,5& , . !)&&$* (%)* (% ('* #-15+" ,...0..5 ( & $ )' +. )%)' + "##"* * ' 4 4 3/15545$34/152(--45)421 1- 5 35 4''-3*421545 5$34/305%32153/5 1*-30 345 34*1&15 422(122305 /,5 +.05 3/5 *424%21 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 05$4-2,))4 !+""05%#'5 05 42,5 5 *1/%,5& ,5+ 5 !)&&$* (%)* (% (' #-15" ,...0.. ( & $ )' +. )%)' + 5 "##"* * ' 4 4 3/15545$34/152(--45)421 # 5 35 4''-3*421545 5$34/305%32153/5 1*-30 345 34*1&15 422(122305/,5+. 053/5*424%21 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 05$4-2,))4 !+""05%#'5 05 42,5 505*1/%,5& ,5+ . !)&&$* (%)* (% ('* #-15" ,...0..5 ( & $ )' +. 5 )%)' + 5 "##"* * '* $$4-24&(/21545$34/152(--4 )4215&1/2(5 35 4''-3*421545 5$34/305%32153/ 1*-305 345 34*1&15 422(122305/,5+!053/5*4
24%215 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 0 $4-2,))45 !+""05 %#'5 05 42,5 "5 *1/%,5 0 4/305& ,5 !)&&$* (%)* (% ('* #-15+ ,!..0..5 ( & $ )' +. 5 )%)' + "##"* * '* $$4-24&(/21545$34/15$-3&1 )4215&4-(5 35 4''-3*421545 5$34/305%32153/ 1*-305 345 34*1&15 422(122305/,5+!053/5*4
24%215 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 0 $4-2,))45 !+""05 %#'5 05 42,5 "5 *1/%,5 0. 4/305& ,5+ . !)&&$* (%)* (% (' #-15" ,...0..5 ( & $ )' +. )%)' + "##"* * '* $$4-24&(/21545$34/15$-3&1 )4215&1/2(5 35 4''-3*421545 5$34/305%32153/ 1*-305 345 34*1&15 422(122305/,5+!053/5*4
24%215 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 0 $4-2,))45 !+""05 %#'5 05 *1/%,5 0.5 4/305 & , +!. !)&&$* (%)* (% ('* #-15! ,...0.. ( & $ )'*+. )%)' + "##"* * ' $$4-24&(/215 45 $34/15 %(
*1/ 15)4215&4-(5 35 4''-3*421545 5$34/30 %32153/5 1*-305 345 34*1&15 422(122305/,5+!0 3/5*424%215 4''-3*4235 3524)(5 1&#/(54)5 ), + 05$4-2,))45!+""05%#'5+.05*1/%,5 0.5 4/30 & 5+ . !)&&$* (%)* (% (' #-15" ,...0..5 ( & $ )' +. 5 )%)' + "##"* * '* $$4-24&(/215 45 $34/15 %(
*1/ 15)4215&1/2(5 35 4''-3*421545 5$34/30 %32153/5 1*-305 345 34*1&15 422(122305/,5+!0 3/5*424%215 4''-3*4235 3524)(5 1&#/(54)5 ), + 05$4-2,))45!+""05%#'5+.05 42,5 ",5*1/%, 0.5 4/305& ,5+!. 5 !)&&$* (%)* (% (' #-15! ,...0..5 ( & $ )' +.
)%)' + "##"* * '* $$4-24&(/21545$34/152(- 1 )4215&4-(5 35 4''-3*421545 5$34/305%32153/ 1*-305 345 34*1&15 422(122305/,5+!053/5*4
24%215 4''-3*4235 3524)(5 1&#/(54)5 ),5+ 0 $4-2,))45 !+""05 %#'5 ++05 42,5 "5 *1/%,5 0. 4/305& ,5+ . 5 !)&&$* (%)* (% (' #-15" ,...0..5 ( & $ )' +. )%)'*+ "##"* * ' $$4-24&(/21545$34/152(- 1 )4215&1/2(5 35 4''-3*421545 5$34/305%32153/ 1*-305 345 34*1&15 422(122305/,5+!053/5*4
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
K;;LJGLNLI?JG@K>LJILNBJFGKIIJNNMEEMGMNKC8 ALELFMNBGMEEJNHKN/KICMHHMGLKN7EMCA>LJILN<@8 @J4LHLKGLNDLN AMEFJN.GL4AIKHM5N 8N/AEFJDMN LADL>LKGLJ N,G5N,63.7N37&/<5 7&.-6..1N /13 1- 7N 7-N &1N #8 #2</<.6=5 2JCGL:N 'N@KG>JN"'*" 8N </<1N7&7/ <13<N8 &<N-73,7N31.1 KLNEMIELNDMHNCJ@4LIKFJNDLEBJEFJN DK;HLNKGFF5N 'NMN)$'0 C%MNLHN LADLCMNDMHH=7EMCA>LJIM: !! & # #
IMHHKN 9:2;/39<>)5;238= <>76>,,$ %> 6 )56><@@5NBGJ@JEEKNDKN/6 <&<N KHH=ADLMI>KNDMHN*)5*"5"'**
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
313N.-6& 7-<#<2< NLIFMEFKFLNKHH=J??MGMIFM: DKNLIEMGLGEL:NKNCAGKNDMHH=J??MGMIFM:NIMHHKN@MDM8 EL@KN4AEFKNCJIFMIMIFMNH=J??MGFK+ HMNJ??MGFMNLINKA@MIFJ:NIMHNCKEJNDLNCALNKHH=KGF5 )$ NCBC:NIJINBJFGKIIJNMEEMGMNLI?MGLJGLNKHN DMHNBGM>>JN4KEM+N H=K;;LADLCKFKGLJNDJ9G(N9MGEKGMNLHNEKHDJNMNH=L@8 BJGFJNDMHHMNEBMEMNEMCJIDJN AKIFJNBGM9LEFJ IMLNBL@FAN*"NMN* NDMHH=JGDLIKI>KNDLN9MIDLFK J99MGJNDMBJELFJNMIFGJN 'N;;5NDKHH=K;;LADLCK8 >LJIMNDMHNGMELDAJNBGM>>J:NDMFGKFFJNH=L@BJGFJ BMGNCKA>LJIMN;L(N9MGEKFJ:NMNDMHH=L@BJGFJNCJ@8 BHMEEL9JNBMGNHMNEBMEMNCJHHM;KFMNKHHKN9MIDLFK: KHH=AJBJNCJ@AILCKFJNDKHHKNCKICMHHMGLKNMNIM8 CMEEKGLMNBMGNH=M@KIK>LJIMNDMHNDMCGMFJNDLNFGK8 E?MGL@MIFJ0+ LHN@KICKFJN9MGEK@MIFJNDMHNBGM>>JNGMELDAJNIML FMG@LILN LIDLCKFLN CJ@BJGFMG(N HKN DMCKDMI>K DMHH=K;;LADLCK>LJIMN MN HKN BMGDLFKN DMHHKN CKA8 >LJIM:N MDN MEBJGG(N H=K;;LADLCKFKGLJN LIKDM@8 BLMIFMNKHHMNCJIEM;AMI>MNDLNCALNKHH=KGF5N) $NCJ <<NCBCN GLC%LK@KFJNDKHH=KGF5N)$ :N<<<NCJ:NCBC0+ 1!7N N &<N ,7##6N -1/7,7-7N 6<N &73&< ,7 2<N 6-..5N )$*:)$"N 7N )$ N /5 5/5:N 26 !73,<.6N 62N ##2</1N <3/63.1N 6!8 !7--6=N 622= ,<73 6N ,72N ')5'$5"'*": /13N<2N -7 1N-<,1..1N/1 7N37226
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
313N.-6& 7-<#<2< NLIFMEFKFLNKHH=J??MGMIFM: DKNLIEMGLGEL:NKNCAGKNDMHH=J??MGMIFM:NIMHHKN@MDM8 EL@KN4AEFKNCJIFMIMIFMNH=J??MGFK+ HMNJ??MGFMNLINKA@MIFJ:NIMHNCKEJNDLNCALNKHH=KGF5 )$ NCBC:NIJINBJFGKIIJNMEEMGMNLI?MGLJGLNKHN
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
FO=JNPNBDLHINPKOEOGGMHNPDOHPJMPDC::JNENI6PFMJPJN; :HOIILPFOJJMPDHLEOFCHMP;PGNMPBOFNMKIOPBMKN; AOGINPBCHMJNPFMPMAAN==OHGNPKONP0LBCKNPNKFNEMIN KOJJ<LHFNKMK?MPFNP@OKFNIMPDN PHOEOKIOPNKPECNP# ELKIOKCIMPJMPFOGEHN?NLKOPFONPJLIINP+NK@NIMKFL MFPMJJO=MHOPELDNMPFNPK8P1PBMKNAOGILPBCHMJO7 AMIICHMPHOJMIN@MPMJJOPGDOGOPFNPGIMBDMPFONPBM; KNAOGINPBCHMJNPOPAMIICHMPHOJMIN@MPMJJOPGDOGOPFN MAANGGNLKOPFONPBMKNAOGINPBCHMJN9PKLKE5 PBO; FNMKIOPDC::JNEM?NLKOPDOHPCKMP@LJIMPGCP $); 2,,)P 3 ,2P +-CLINFNMKLP 4JP %LBMKNP BOKGNJNP CP2ELKLBNMPOP3GIONKALMDDMJINP PGNIN 4KIOHKOI>PKONP-CMJNPJMPDC::JNEM?NLKOPFOJJ<LHFN; KMK?MPM@H6PJCL=LPCKNIMBOKIOPMJJMPHOJM?NLKO FNPGINBM>P!!!8MGIONBBL:NJN8NIP;P!!!8DLHIMJOM; GIO8NIP;P!!!8MGIO8OC=OKNCG8NI7PNKPDMHINELJMHO 39P AMIICHOP OP ELDNOP FONP BMKNAOGINP BCHMJNP FL; @HMKKLPOGGOHOPFODLGNIMIOPNKP0MKEOJJOHNM>PANKL MJJ<CFNOK?MPFNP@OKFNIM7P 9PJ<MIIOGIMILPFNPM@@O; KCIMP DC::JNEM?NLKOP GCJP $) 2,,)P3 ,2 FL@H6P OGGOHOP NK@NMILP BOFNMKIOP AM P FNHOIIM; BOKIOPFMJJMPGLENOI6PE5OP=OGINGEOPNJPGOH@N?NL + OFNMIM=PG8D8M89PDHOGGLPJMP0MKEOJJOHNMPFOJ ,HN:CKMJO>PMJPK8P' 8.'(".7 1 9PL@OPGNPFO::MPDHLEOFOHOPMJJ<NKEMKIL>POPENL# DOHPNJPEMGLPNKPECNPKLKPGNMKLPDHLDLGIOPLAAOHIO F<ME-CNGILP OKIHLP NJP IOHBNKOP GIM:NJNIL>P L@@OHL DOHPNJPEMGLPNKPECNPJOPGIOGGOPKLKPGNMKLPOAANEMEN MNPGOKGNPFOJJ<MHI8P/(1>PL@@OHLPDOHPNJPEMGLPNKPECN GNP @OHNANE5NP CKMP FOJJOP ENHELGIMK?OP DHO@NGIO FMJJ<MHI8P/(.>PIOH?LPELBBM>PL@@OHLPDOHPNJPEMGL> NKANKO>P NKP ECNP JMP @OKFNIMP GOK?MP NKEMKILP KLK M::NMPJCL=LPDOHP-CMJGNMGNPMJIHMPHM=NLKOP+OG8 =MHMPNKPMCBOKILPKLKPIOKCIMPDOHPBMKEMK?MPFN MFOGNLKN>PMHI8P/("PEDE9>PGNPANGGMPANKPF<LHMPDOH J<CFNOK?MPFOJP+ 2%4P ) $39PPNJPDC::JNELPNK; EMKIL>PE5OPM@@OHH6PGOELKFLP-CMKILPDHO@NGIL KONP DCKINP E5OP DHOEOFLKL>P MFP OEEO?NLKOP FN -CMKILPMDDHOGGLPGDOENANEMIL7 1 9PNKPDMHINELJMHO>PENMGECKPLAAOHOKIO>PIHMKKOPNJ FO:NILHOPOPICIINPNPGL==OIINPDOHPJO==OPKLKPMB; BOGGNPMJJMP@OKFNIM>PFL@H6PFODLGNIMHO>PGNKLPMJ; J<NKN?NLP OAAOIIN@LP FOJJ<CFNOK?MP FNP @OKFNIM> FLBMKFMP FNP DMHIOENDM?NLKOP MJJ<NKEMKILP FM DHOGOKIMHGNPNKP:CGIMPE5NCGMPMPDOKMPFNPNHHNEO@N; :NJNI6PFOJJ<LAAOHIM7PMJJ<OGIOHKLPFOJJMP:CGIMPNJPEMK; EOJJNOHOPMKKLIOH6POGEJCGN@MBOKIO P39PNJPKLBO FOJP=NCFNEOPFOJJ<OGOEC?NLKOPLPFOJPDHLAOGGNLKN; GIMPFOJO=MILPE5OPDHL@@OFOH6PMJJMP@OKFNIM7P 9 JMPFMIMPANGGMIMPDOHPJ<OGMBOPFOJJOPLAAOHIO7P09PN FMINP FOJJMP DOHGLKMP E5OP BMIOHNMJBOKIOP 5M DHL@@OFCILPMJPFODLGNILP7PKLKPGMH6PELKGOKINIL MKKLIMHOPKOGGCKPMJIHLPOJOBOKIL>POPGDOENMJ; BOKIOP-COJJNPE5OPDLGGLKLPELKFCHHOPMFPNFOK; INANEMHOPNJP:OKOPDOHPNJP-CMJOPJ<LAAOHIMP#PDHOGIMIM7 CKNIMBOKIOPMJJ<NGIMK?MPFNPDMHIOENDM?NLKOPMJJ<NK; EMKIL>P ENMGECKP LAAOHOKIOP FL@H6P FODLGNIMHO CKMP GLBBMP DMHNP MJP 1' P FOJP DHO??LP :MGO F<MGIMPGLDHMNKFNEMILPMPINILJLPFNPEMC?NLKO>PBO; FNMKIOPELKGO=KMPNKP0MKEOJJOHNMP;P AANENLP2GO; EC?NLKNP4BBL:NJNMHNP;PFNPMGGO=KNPENHELJMHNP*)* ,$3 2$4 4&4PNKIOGIMINPMJJ<LAAOHOKIO7 .'9PJMPFLBMKFMPFNPDMHIOENDM?NLKOPMJJ<NKEMKIL FL@H6PHNDLHIMHOPJOPELBDJOIOP=OKOHMJNI6PFOJJ<LA; AOHOKIO>P J<NKFNEM?NLKOP FOJP ELFNEOP ANGEMJOP O> KOJJ<NDLIOGNP FNP DOHGLKMP ELKNC=MIM>P NJP HO=NBO DMIHNBLKNMJOPDHOGEOJILPOFPNPFMINPFOJPELKNC=O7 NKPEMGLPFNPLAAOHIMPDHOGOKIMIMPDOHPELKILPOPDOH KLBOPFNPCKMPGLENOI6>PFL@H6POGGOHOPDHLFLIIL 0OHINANEMILPFOJJMP0MKEOJJOHNMP0LBBOHENMJOPFMJ -CMJOPHNGCJINPJMPELGINIC?NLKOPFOJJMPGLENOI6POFPN DLIOHNPELKAOHNINPMJJ<LAAOHOKIOPNKPCFNOK?MPKLKE5 J<NKFNEM?NLKOPFOJJMP MHINIMP4 37PNKPIMJOPNGIMK?M FL@H6POGGOHOPMKE5OPNKFNEMILPGOPJ<LAAOHOKIOPNK; IOKFOP M@@MJOHGNP FOJJOP M=O@LJM?NLKNP DHO@NGIO DOHPJ<ME-CNGILPFOJJMPDHNBMPEMGM7 .19PJOPALHBOPFNPDC::JNENI6PGLKLPJOPGIOGGOPDHO; @NGIOPDOHPJMP@OKFNIMPGOK?MPNKEMKIL>PELKPJMPFNA; AOHOK?MP E5OP NJP IOHBNKOP FNP /P =NLHKNP FO@O OGGOHOPEMJELJMILPMPHNIHLGLPFMJJMPFMIMPFOJJ<NK; EMKIL7 ..9PGOPJ<LAAOHOKIOPKLKPFN@NOKOPM==NCFNEMIMHNL> JMP EMC?NLKOP #P NBBOFNMIMBOKIOP HOGINICNIM FLDLP JMP E5NCGCHMP FOJJ<NKEMKIL>P GMJ@LP E5OP JL GIOGGLPKLKPM::NMPLBOGGLPFNPDMHIOENDMHOPMJ BOFOGNBL>PDOHGLKMJBOKIOPLPMPBO??LPFNPDHL; ECHMILHOPGDOENMJO>PGOK?MPFLECBOKIMILPOP=NC; GINANEMILP BLIN@L7P NKP IMJP EMGLP JMP EMC?NLKOP # HOGINICNIMPGLJLPKOJJMPBNGCHMPFONPKL@OPFOENBN FOJJ<NKIOHLPOPJMPHOGIMKIOPDMHIOP#PIHMIIOKCIMPMJJM DHLEOFCHMPNKP@NGIMPFOJJMPACICHMPFNGIHN:C?NLKO7 ."9PJ<M==NCFNEMIMHNL>PNK@OEO>PFL@H6P@OHGMHOPNJ GMJFLPOPJ<NBDLHILPFOJJOPGDOGOPGOELKFLP-CMKIL DHO@NGILPMNPDCKINP1.POP1">PAOHBMPHOGIMKFLPJM FOEMFOK?MPFNPECNPMJJ<MHI8P/ (PEDEPNKPEMGLPFN BMKEMILPFODLGNIL7 . 9P MFP NKEMKILP M@@OKCIL>P DLIHMKKLP OGGOHO DHOGOKIMIOPNKP0MKEOJJOHNMPLAAOHIOPFNPME-CNGIL OKIHLPNJPIOHBNKOPFNP=NLHKNPFNOEN>PFMPDHOGOKIMHGN KOJJOPALHBOPFNPECNPMJJ<MHI8P/(1PEDEP+EAH8PDCKINP.> "POP 9>PBMPKLKPGMHMKKLPOAANEMENPGOPNJPDHO??L LAAOHILPKLKPGMH6PGCDOHNLHOPFNPMJBOKLP1 /PGC; DOHNLHOP HNGDOIILP MP -COJJLP HM==NCKILP NKP GOFO F<NKEMKILP+MHI8P/ PEDE9POPGOPJ<LAAOHIMPKLKPGMH6 MEELBDM=KMIMPFMJPFODLGNILPFNPCKMPGLBBM DMHNPMJPFLDDNLPFOJJMPEMC?NLKOP@OHGMIMPDOHPDMH; IOENDMHOPMJJ<NKEMKIL7
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
+ELKGCJIM:NJOP GCJJ<MDDLGNILP GNILP NKIOHKOIP L DHOGGLPJMPEMKEOJJOHNMPOGOEC?NLKN9POPFNPM@OHKO ELBDHOGLPNJPELKIOKCILPOF>PNKLJIHO>PFNPELKL; GEOHOPJLPGIMILPFOJJ<NBBL:NJO7P 9PELDNMPFNP@M; JNFLPFLECBOKILPFNPNFOKINI6PFOJPGL==OIILPE5O GLIILGEHN@OPJ<LAAOHIM7P 9PNKPEMGLPFNPLAAOHIMPDHO; GOKIMIMPDOHPELKILPOPDOHPKLBOPFNPCKMPGLENOI6> EOHINANEMILPFOJJMP0MKEOJJOHNMP0LBBOHENMJOPFMJ -CMJOPHNGCJINPJMPELGINIC?NLKOPFOJJMPGLENOI6POFPN DLIOHNPELKAOHNINPMJJ<LAAOHOKIOPNKPCFNOK?MPKLKE5 J<NKFNEM?NLKOPFOJJMPDMHINIMP4 3 P49PJMPFNE5NMHM; ?NLKOPFNPHOGNFOK?MPLPJ<OJO?NLKOPFNPFLBNENJNLPKOJ ELBCKOPKOJP-CMJOP5MPGOFOPNJP,HN:CKMJOPELB; DOIOKIOPDOHPJ<OGOEC?NLKOP+MHI8P1( PFNGD8PMII8 ELF8PDHLE8PEN@89>PDOKMPJ<OAAOIICM?NLKOPFOJJOPEL; BCKNEM?NLKNP DHOGGLP JMP EMKEOJJOHNMP FOJJL GIOGGLPCAANENL7P&9PJMPGLIILGEHN?NLKOPFONP=OKNILHN OGOHEOKINPJPDLIOGI6POPJ<MCILHN??M?NLKOPFOJP=NC; FNEOPICIOJMHOPL@OPJ<LAAOHOKIOPGNMPCKPBNKLHO7 9PJ<LAAOHIMPFO@OPOGGOHOPNKGOHNIMPNKPCKMP:CGIM E5NCGM>PMJPECNPOGIOHKLPNJPEMKEOJJNOHOPMKKLIOH6 OGEJCGN@MBOKIO P39PNJPKLBOPFOJP=NCFNEOPFOJ; J<OGOEC?NLKOP LP FOJP DHLAOGGNLKNGIMP FOJO=MIL E5OPDHL@@OFOH6PMJJMP@OKFNIM7P 9PJMPFMIMPANG; GMIMPDOHPJ<OGMBOPFOJJOPLAAOHIO P09PNPFMINPFOJJM DOHGLKMPE5OPBMIOHNMJBOKIOP5MPDHL@@OFCILPMJ FODLGNIL7PKLKPGMH6PELKGOKINILPMKKLIMHOPKOG; GCKPMJIHLPOJOBOKIL>POPGDOENMJBOKIOP-COJJNPE5O DLGGLKLPELKFCHHOPMFPNFOKINANEMHOPNJP:OKOPDOH NJP-CMJOPJ<LAAOHIMP#PDHOGIMIM7 /9P J<LAAOHIMP FO@OP OGGOHOP MEELBDM=KMIMP FMJ FODLGNILP FOJJMP EMC?NLKO>P DMHNP MJJMP FOENBM DMHIOPFJPDHO??LPLAAOHIL>PFMP@OHGMHOPIHMBNIOPMG; GO=KNPENHELJMHNP*)*P,$3 2$4 4&4PNKIOGIMIN MJJ<LAAOHOKIO>P E5OP MP ECHMP FOJJ<LAAOHOKIO>P FL; @HMKKLPOGGOHOPNKGOHNINPKOJJMPBOFOGNBMP:CGIM7 9PJ<LAAOHIMPKLKPGMH6PELKGNFOHMIMPOAANEMEO P39 GOPDOH@NOKOPLJIHOPNJPIOHBNKOPMDDLGNIMBOKIOPNK; FNEMIL7P 9PGOP#PNKAOHNLHOPMJPDHO??LP:MGO>PO@OK; ICMJBOKIOP HN:MGGMIL7P 09P GOP J<LAAOHOKIOP KLK DHOGIMPEMC?NLKO>PELKPJOPBLFMJNI6POPKOJJMPBN; GCHMPMDDOKMPNKFNEMIO7 (9PJ<LAAOHIMPGNPELKGNFOHMPNHHO@LEM:NJOPMFPOEEO; ?NLKOPFOJJOPNDLIOGNPNKPECN P39PNJP=NCFNEO>PNKPDHO; GOK?MPFNPDN PLAAOHIOP@MJNFO>PFNGDLK=MPJMP=MHM IHMP=JNPLAAOHOKINP+MHI8P/("PEDE97P 9PNJP=NCFNEO>PKL; KLGIMKIOPJOPLAAOHIO>PLHFNKNPJ<NKEMKILP+OG8PMHI8 /(.PEDE97P09PGNMKLPFOELHGNPEOKIL@OKINP=NLHKN FMJJMPGCMPDHOGOKIM?NLKOPOPJMPGIOGGMPKLKPGNM GIMIMPMEELJIM7 9P J<LAAOHOKIOP +LFP NJP DHLECHMILHOP JO=MJOP M KLHBMPFO=JNPMHII8P/(1POP/( PE8D8E89PFL@H6PDHO; GOKIMHGNPNJP=NLHKLPANGGMILPDHOGGLPNJP,HN:CKMJOPFN &LEHN>PGMJMPFOJJOPDC::JNE5OPCFNOK?O>PLHOP >'' OPGG8>PDOHPMGGNGIOHOPMJJ<OGMBOPFOJJOPLAAOHIO7 9PJ<CFNOK?MPFNP@OKFNIMPGOK?MPNKEMKILP#PANGGMIM DOHPNJP=NLHKLP+@OFNPGLDHM9>POPGNPIOHH6PDHOGGLPNJ ,HN:CKMJOP FNP &LEHN>P GMJMP FOJJOP DC::JNE5O CFNOK?O>PLHOP >''POPGG87PN@NPGNPDHLEOFOH6PMJ; J<OGMBOPFOJJOPGNK=LJOPLAAOHIO>PMNPGOKGNPFO=JN MHII8P/(.P+DOHPJ<NDLIOGNPNKPECNP@NPGNMPCKMPGLJMPLA; AOHIM9POP/("PEDEP+L@OP@NPGNMKLPDN PLAAOHIO97 1'9P NKP DHOGOK?MP FNP DN P LAAOHIOP @MJNFO>P MJJM GIOGGMPCFNOK?MPGNPNK@NIOHMKKLP=JNPLAAOHOKINPMJJM =MHMPFNPECNPMJJ<MHI8P/("PEDE>PL@OPJOPLAAOHIOPNK MCBOKILPKLKPDLIHMKKLPOGGOHOPNKAOHNLHNPMJP" %2&P $2 )P 3 28 119PNKPEMGLPFNPBMKEMIMPM==NCFNEM?NLKO>PJ<NB; DLHILP@OHGMILPMPINILJLPFNPEMC?NLKOP@OHH6PHOGIN; ICNILPMJJMPE5NCGCHMPFOJJOPLDOHM?NLKNPFNP@OKFNIM7 1.9P NKP EMGLP FNP M==NCFNEM?NLKO>P J<LAAOHOKIO FL@H6>PKOJPIOHBNKOPDOHOKILHNLPFNP==8P 'PFMJ; J<M==NCFNEM?NLKO>P FODLGNIMHOP NJP HOGNFCL DHO??L>P FOIHMIILP J<NBDLHILP DOHP EMC?NLKOP =N6 @OHGMIL>PNKPCKPJN:HOIILPFNPFODLGNILPDLGIMJOPNK; IOGIMILPMJJMP HLEOFCHMPOP@NKELJMILPMJJ<LHFNKO FOJP NCFNEOPFOJJ<2GOEC?NLKO7 1"9PNKPEMGLPFNPM==NCFNEM?NLKO>PNKLJIHO>PJ<LAAO; HOKIOPFL@H6P@OHGMHOPKOJPBOFOGNBLPJN:HOIILPFN FODLGNILP+NKIOGIMILPMJJMP HLEOFCHMPOP@NKELJMIL MJJ<LHFNKOP FOJP NCFNEOP FOJJ<OGOEC?NLKO9>P O KOJJLPGIOGGLPIOHBNKO>PJ<NBDLHILPELBDJOGGN@L FOJJOP GDOGOP ELJJO=MIOP MJJMP @OKFNIM>P E5OP GM; HMKKLPMJJ<CLDLPELBCKNEMIOPFMJJMPEMKEOJJOHNM OPE5OPGMHMKKLPKOEOGGMHNOPDOHPJ<OBMKM?NLKO FOJPFOEHOILPFNPIHMGAOHNBOKIL7 1 9PNJPBMKEMILP@OHGMBOKILPFOJPDHO??LPHOGN; FCLPKONPIOHBNKNPNKFNEMINPELBDLHIOH6PJMPFOEM; FOK?MPFOJJ<M==NCFNEM?NLKOPOPJMPDOHFNIMPFOJJM EMC?NLKO>P OFP OGDLHH6P J<M==NCFNEMIMHNLP NKM; FOBDNOKIOP MJJOP ELKGO=COK?OP FNP ECNP MJJ<MHI8 / (PELP44PEDEP+HNE5NMBMILPFMJJ<MHI8P/( >P444PEL8> EDE97 1/9P BM==NLHNP NKALHBM?NLKNP DLIHMKKLP OGGOHO ME-CNGNIOPDHOGGLPJMPEMKEOJJOHNMPFOJP,HN:CKMJO FNP&LEHNP1 9PJMPDHOGOKIOPLHFNKMK?MPFL@H6POG; GOHOPMAANGGMPMJBOKLP /P=NLHKNPDHNBMPFOJPIOH; BNKOP ANGGMILP DOHP JMP DHOGOKIM?NLKOP FOJJO LAAOHIO>PMJJ<3J:LPFOJP,HN:CKMJOPFNP&LEHNPDOHPIHO =NLHKNPELKINKCNPMPECHMPFOJJMP0MKEOJJOHNMP;PKOJ HNGDOIILPFOJPELB:NKMILPFNGDLGILPFO=JNPMHII8P ' OP/('PEDEPOPFL@H6PELKIOKOHO P39P=JNPOGIHOBN NFOKINANEMIN@NP FOJP :OKOP DHO@NGINP KOJJ<MHI8P /// EDE7P 9PNJP@MJLHOPFOJJ<NBBL:NJOPFOIOHBNKMILPM KLHBMPFOJJ<MHI8P/ PEDE7P09PNJPGNILP4KIOHKOIPGCJ -CMJOP #P DC::JNEMIMP JMP HOJMIN@MP HOJM?NLKOP FN GINBM7P%9PNJPKLBOPOFPNJPHOEMDNILPIOJOALKNELPFOJ
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
=R! <0<3R:*:0! <3/<R= *<R,:/+:R/3-3 G4QRPLR PEHPGQRHQLL>:IQGEBPNMQ@ HJ9IIOR#311<0</3@ MQLLOR 35-4+(378$*4-(26 780/8 ! #%8 /8$* 9RFJNDNIIORHOR<-71 3/+<7,<3@R OLL>EHPQMBORHQLR&"9229(&22 7R+<*#3*-3R#,30:+:,*<R7117 R :/+<-7R+:<R*: !:/-<R$:/<R< 3$<1< " " 062 86&&5 6167348-5*262(627 +78(0815-714878,670582433787+8(*58-5&&43 -671487&&4 7258-508,67058*5,,71-587+6 6258 7+8 ( 6-68 48 +4,5*6258 48 +78 (08 15-714 -702607258 7+8 (*58 +4,5*625.8 *6278 0418 5 &(048 +68 6+4305.8 608 678 5065.8 36,532725 0418 $ 8 71178 ,7326278 "".8 5 1658 +6 &7,,78 .8,7326-41178))%.8*( 8) .8+68-5& ,14**6 68& /8 %.8608+62278///8-5&,35,36427 365848//////8-5&,35,36427367 " $(358%! /"%#. # ! " ! " ! $(358%!/ "%.##8 ! " ! " ! ! "$(358)"/) .# " " 7 36-7258782348,67068 (536 243378-508-5,432(3787824337 58,3726-7 614. *62580418 5&(048+68 6+4305.871178 678 5065. 36,53272580418 $ 871178,7326278%%#%.8 5 165 +68&7,,78 .8,7326-41148 848 ) .8+68-5& ,14**6 68 & /8 ').8 % ).8 72/8 . -17**48 .83/8$/8%)'.''.8608+62278////// 88 " $(358# /#"'.!'8 ! " ! " ! $(358#/ #".'!8 ! " ! " ! ! $(358% /) )."# :/+<-7R0 :R7 :,,7>R711:R *: !:/-<R#,</0<#71<R03/+< <3/< 17R :/+<-7R*:/ 7R</07/-3@RPMRGEPRIPRFJN= GQHQJ5ROLL>QIODQRHQLLQRIPM?NLQRNCCQJKQROPRIQMIP HQ?LPR OJKK9R .)(R QR .)"R GFG@R 7 :,,7>R 71= 1>!+<:/ 7R+:1R' /'!/)'%). GNMRLORJPHEBPNMQ HPR2 . 2 . 2 .RHQLRFJQBBNR;OIQRH>OIKO9 :MKJNRLQRNJQR2(@&&RHQLR?PNJMNROMKQGQHQMKQRLO AQMHPKO@R L>NCCQJQMKQR HQAQR FJQIQMKOJQR MQLLO GOMGQLLQJPORHQLLQRQIQGEBPNMPRPDDN;PLPOJPRHN= DOMHORPMR;NLLNR%AQHPRNJHPMOMBORHPRAQMHPKORFQJ LORGNDFPLOBPNMQ8RFQJRFOJKQGPFOJQROLLORAQMHPKO IQMBORPMGOMKNRRGNMRL>PMHPGOBPNMQRHQLRFJQBBN G4QRIPRPMKQMHQRNCCJPJQR%G4Q@RORFQMORHPRPMQCCPGO= GPO@RMNMRFNKJ5RQIIQJQRPMCQJPNJQROLRFJQBBNR;OIQ PMHPGOKNRFNG>OMBP9RRL>NCCQJKORHQAQRQIIQJQRPMIQ= JPKORPMR;EIKORG4PEIO@ROLRGEPRQIKQJMNRMNMRIOJ5 GNMIQMKPKNROMMNKOJQRMQIIEMROLKJNRQLQDQMKNRQ IFQGPOLDQMKQR'EQLLPRG4QRFNIINMNRGNMHEJJQROH PHQMKPCPGOJQRPLR;QMQRN??QKKNRHQLL>NCCQJKO6RL>NC= CQJKORHQAQRQIIQJQROGGNDFO?MOKORHOLRHQFN= IPKNRHQLLORGOEBPNMQ@RFOJPROLR2& RHQLRFJQBBN NCCQJKN@R HOR AQJIOJQR GNMR OIIQ?MPR GPJGNLOJP
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
%(0355 ,&22*225
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
%(035 ,!22*225 %(0355 , !2*225 %(035 ,2 2*22 $92+<.7R0 9R7$$9--7?R7339R &9 92.<R"-<20<"73<R0/2+< </2< 37R$92+<.7R&92 7R<2072./@RPMRGEPRIPRFJN= GQHQJ5ROLL?QIODQRHQLLQRIPM>NLQRNCCQJKQROPRIQMIP HQ>LPR OJKK:R 1*(R QR 1*!R GFG@R 7$$9--7?R 73= 3? +<92 7R+93R2 ,2!,&2 &* GNMRLORJPHEBPNMQ HPR, 1 , 1 , 1RHQLRFJQBBNR;OIQRH?OIKO: 9MKJNRLQRNJQR,(@))RHQLR>PNJMNROMKQGQHQMKQRLO AQMHPKO@R L?NCCQJQMKQR HQAQR FJQIQMKOJQR MQLLO GOMGQLLQJPORHQLLQRQIQGEBPNMPRPDDN;PLPOJPRHN= DOMHORPMR;NLLNR%AQHPRNJHPMOMBORHPRAQMHPKORFQJ LORGNDFPLOBPNMQ8RFQJRFOJKQGPFOJQROLLORAQMHPKO IQMBORPMGOMKNRRGNMRL?PMHPGOBPNMQRHQLRFJQBBN G4QRIPRPMKQMHQRNCCJPJQR%G4Q@RORFQMORHPRPMQCCPGO= GPO@RMNMRFNKJ5RQIIQJQRPMCQJPNJQROLRFJQBBNR;OIQ PMHPGOKNRFNG?OMBP:R L?NCCQJKORHQAQRQIIQJQRPMIQJPKORPMR;EIKORG4PEIO@ OLRGEPRQIKQJMNRMNMRIOJ5RGNMIQMKPKNROMMNKOJQ MQIIEMROLKJNRQLQDQMKNRQRIFQGPOLDQMKQR'EQLLP G4QRFNIINMNRGNMHEJJQROHRPHQMKPCPGOJQRPLR;QMQ N>>QKKNRHQLL?NCCQJKO6 L?NCCQJKORHQAQRQIIQJQROGGNDFO>MOKORHOLRHQ= FNIPKNRHQLLORGOEBPNMQ@RFOJPROLR,) RHQLRFJQBBN NCCQJKN@R HOR AQJIOJQR GNMR OIIQ>MPR GPJGNLOJP 2/2R.-7& 9-<#<3< RPMKQIKOKPROLL?NCCQJQMKQ@ HORPMIQJPJIP@RORGEJORHQLL?NCCQJQMKQ@RMQLLORDQHQ= IPDOR;EIKORGNMKQMQMKQRL?NCCQJKO6 LQRNCCQJKQRPMROEDQMKN@RMQLRGOINRHPRGEPROLL?OJK: 1*!RGFG@RMNMRFNKJOMMNRQIIQJQRPMCQJPNJPROLR! HQLRFJQBBNR;OIQ6R L?O>>PEHPGOKOJPNRHNAJ5RAQJIOJQRPLRIOLHNRQRL?PD= FNJKNRHQLLQRIFQIQRIQGNMHNR'EOMKNRFJQAPIKN
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
6L ;/;0L5(5/ ;01;L6 (;L.51%5L10'0 IJLBKGBJLCKFLAH=3JGIDHLCJB@HBDHL CI9FJLIEDD7L ,LKL&$, A KLJFL J?CJAKLCKFF45BKA?>JHGK8L " && * # * ' ' GKFFIL&BF=E>:BHI4?E=:DG2HIC9I*@-5@@(I 9 4?9I 889I @EH=HBBILCIL 1;/.5%;'L/.5%;'L 212 5 51' 21 L( 2L IFF4?CJKG>ILCKFL, 7**7#,**
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
KMKAMP GNP @MKGNJMP OP IMP HOIMANLKOP GNP FJNBM (((>MFJONBBL5NIN>NJP 7P (((>DLHJMIOMFJO>NJP 7 (((>MFJO>OC=OKNCF>NJ M==NLHNPNK:LHBMANLKNPDLJHMKKLPPOFFOHOPME7 CNFNJOPDHOFFLPIMP1MKEOIIOHNMP9FOECANLKNP?B7 BL5NINMHNPGNP COFJLP0HN5CKMIO>P 7P 1CFJLGOP NCGNANMHNL P 8@@>P .8619,18 ,%9 ?83?> 9,0.8004P 146 4. 9P %9.P $,4P %$!7 !3?1?08<> 3LEHN;P/ PBMHALP*2/* ?3P1861933?9.9 7P$ ?1?4P9,91$ ?46?P7 ,?P.96-9P6404 MNPFOKFNPGOIPELB5NKMJLPGNFDLFJL GM=INPMHJJ>P 2POP)'2 E OPNIP NCGNEOPGOII<9FOECANLKO;P % # % $"" $
KOIIMP#@E?D:8@GH->D?8BF1GHC=H7;)*)3H+= ->=H 66= DHLBLFFMPGMP18.?183P MII<CGNOKAMPGOIP/ >2/>*2/* 8P-?,%4,04 %.419-9.,?P8338P#96-?08P-9?P ,9 $960?P!96?P? 4!?3? "$##$% !% #FDCGH9@E9@FDB!H:FH8CHBD@@DCEHFC
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
CECb_babWRXbY^[bZ2aZZ^MM`^bW]_WWabTa\]`Y_ZZa [Vb ADSb WRNb [[Vb PHLVb #^[`JJaJ`^[_b 7/-B #^[ab3b:%6b:R\`W]`YabT_\bI`ZZaMM`b_XbaZN_\H M(`1Vb%`[Y^Z`baWW^MM_]]a]`+b7a_WaMM`W]`Y^H aQN`_[]aZ_b _ b Z_MM_b OEDL?LDVb b Ba]aW]^ KaNN\`Ya]`bX_ZbB^QR[_bX`b)`aQa[]_bK^MZ`^ OUbTa\]`Y_ZZabADSb,_ bCGFHCCL4bWRNaZ]_\[`bOH EHGUbT`a[^b:UbBa]_MVb6?LUbYZVbPUb%a[`bEUb\_[H X`]ab_R\^bOEDUCCVbb 9Zb]R]]^bQ_MZ`^bT\_Y`Wa]^b[_ZZabY^[WRZ_[Ja ]_Y[`Yab`[ba]]`V 9[b ^M[`b YaW^b Z2b aMM`RX`Ya]a\`^Ub \`Y^\\_[H X^[_b`bT\_WRTT^W]`UbT^]\<baIIaZ_\W`bX_ZZ_ X`WT^W`J`^[`bX`bYR`baZZ2a\]VbEFbX_ZbI`M_[]_ :V.VbWRZZ2_X`Z`J`abX`bYR`baZb)V7V/VbF?F?PSSOb[V LASb_bX`bYR`baZZ2a\]VbESUb%9bY^QQaUbX_ZZabY`H ]a]abbbZ_MM_bEC?AGb_bX`b^M[`baZ]\ab[^\QabI`H M_[]_V 49B==CD@D2@>BD3"@>A@ _R\^bLDVOOLUSS =igdjV i]jkXd_`h]cdjikigde`c`-JJEW^ 6BDC B9ABD 8;8 B `j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOVSSSUSS =_`hhd-JJEW 6?::?D+<D6ZZ^MM`^baZbT`a[^b]_\\aUbRN`Ya]^ `[b)`aQa[]_b,B04baZZabZ^YaZ`]<b:`\\_[ab_?^ 0a[b%`[Y_[J^UbbY^[ba[[_WWabY^\]_bX`bY^QH TZ_WW`I`bQ>VbOOSUSSb_bT^\]`Y^bX`bQ>VbFULGU Y^QT^W]^bXabYRY`[aUbW^MM`^\[^?T\a[J^U NaM[^Ub]`[_ZZ^b_bYaQ_\abT_\bR[abWRT_\K`Y`_ Z^\XabX`bQ>VbGOUFGVbB^[Y_WW`^[_b_X`Z`J`ab[V EGbX_ZbPC?OO?ODCPb_bY^[Y_WW`^[_b`[bWa[aH ]^\`ab[VbOSObX_ZbPL?SO?ODDCVb52`QQ^N`Z_b\`H WRZ]abaZZabXa]abX_ZbW^T\aZZR^M^bY^[K^\Q_ aZZabY^[Y_WW`^[_b`[bWa[a]^\`aVbB^[K`[`+ba [^\Xb b Y^[b Z2aZZ^MM`^b W]_WWab Ta\]`Y_ZZab [V ADSbWRNb['OHEHGUbaXb_W]bY^[bTa\]`Y_ZZabCEC
* HAACUbb_XbbabWRXH^I_W]b^I_W]bY^[bTa\]`Y_ZZa [VbCFAb_bCCDVb#^[`JJaJ`^[_b7/-Bb#^[ab3 :%6b :R\`W]`Yab T_\b I`ZZaMM`b _Xb aZN_\M(`1V %`[Y^Z`b aWW^MM_]]a]`+b 7a_WaMM`W]`Y^HaQH N`_[]aZ_b_ bZ_MM_bOEDL?LDVbbBa]aW]^bKaNN\`H Ya]`b X_Zb B^QR[_b X`b )`aQa[]_b K^MZ`^b OU Ta\]`Y_ZZabADSb,b_ bCGFHCCL4bWRNaZ]_\[`bPHLU T`a[^b:UbBa]_MVb6?LUbYZVbPUb%a[`bEUb\_[X`]a _R\^bOEDUCCVbbb 9Zb]R]]^bQ_MZ`^bT\_Y`Wa]^b[_ZZabY^[WRZ_[Ja ]_Y[`Yab`[ba]]`V 9[b ^M[`b YaW^b Z2b aMM`RX`Ya]a\`^Ub \`Y^\\_[H X^[_b`bT\_WRTT^W]`UbT^]\<baIIaZ_\W`bX_ZZ_ X`WT^W`J`^[`bX`bYR`baZZ2a\]VbEFbX_ZbI`M_[]_ :V.VbWRZZ2_X`Z`J`abX`bYR`baZb)V7V/VbF?F?PSSOb[V LASb_bX`bYR`baZZ2a\]VbESUb%9bY^QQaUbX_ZZabY`H ]a]abbbZ_MM_bEC?AGb_bX`b^M[`baZ]\ab[^\QabI`H M_[]_V 49B==CD@D2@>BD3"@>A@ _R\^bEPVEDLUSS =Ma]V g]ji]ead_`h]Ma]iigkcdjikjkX]ji]igd-JJEW^ 6BDC B9ABD 8;8 B `j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOVSSSUSS =_`hhd-JJEW 6?::?D 7<D >R^]ab `X_aZ_b `[b \aM`^[_b X`b R[ Q_JJ^b,O?P4bbX`bR[b]_\\_[^baWW_\I`]^ba`bKaNH N\`Ya]`ba`bK`[`bI^ZRQ_]\`Y`b_XbR]`Z`JJa]^b`[ M\a[bTa\]_bT_\bZ2aYY_WW^baZZ_bR[`]<baN`]aH ]`I_bUbRN`Ya]^b`[b)`aQa[]_,B04baZZabZ^YaZ`]< :`\\_[ab _?^b 0a[b %`[Y_[J^Ub Y^[K`[a[]_b a [^\XH_W]bY^[bTa\]`Y_ZZabCECHCCFUb_XbabWRX ^I_W]bY^[bZabTVZZab[VbADSHCFAHCFLVbbb#^[`JH JaJ`^[_b 7/-Bb #^[ab 3b :%6b :R\`W]`Yab T_\ I`ZZaMM`b_XbaZN_\M(`1Vb%`[Y^Z`baWW^MM_]]a]`+ 7a_WaMM`W]`Y^HaQN`_[]aZ_b _ b Z_MM_ OEDL?LDVb Ba]aW]^b ]_\\_[`b X_Zb B^QR[_b X` )`aQa[]_Ub K^MZ`^b OUb TVZZ_b CFFb >RaZ`]<+b %`H
M[_]^bYZVbPUbY^[W`W]_[JabQ>VbDSbb/6bSULUb\X SUPOb b _b CCOUb Ub W_Q`[Vb 9\\`MVUb YZb PUb Y^[W`H W]_[JabQ>VbOGGUbb/6bSUFEUb\XbSUOFVbb 49B==CD@D2@>BD3"@>A@ _R\^bOVPFGUELb =_`hhdV eadcdjikfdff]ji]c`jMad-4>EW^ 6BDC B9ABD 8;8 B `j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOSSUSS =cdjik-JJEW 6?::?D < >R^]ab `X_aZ_b `[b \aM`^[_b X`b R[ W_W]^b ,O?F4b b X_ZZab T`_[ab T\^T\`_]<b b X`b R[ ]_\\_[^bZ`N_\^bRN`Ya]^b[_ZbB^QR[_bX`b)`aH Qa[]_b,B04baZZabZ^YaZ`]<bB`\_ZZaUb%`ab7^\]^V #^[`JJaJ`^[_b7/-BbJ^[ab3b LbB^QTZ_]aH Q_[]^b\_W`X_[J`aZ_1b_bJ^[ab07.b0_\I`J`bX` `[]_\_WW_bY^QR[_Vb%`[Y^Z`baWW^MM_]]a]`+ 7a_WaMM`W]`Y^HaQN`_[]aZ_b _ b Z_MM_ OEDL?LDVbbB^[K`[`bbab[^\XbY^[bZab%`ab9%b;^H I_QN\_UbaXb^I_W]bY^[bTVZZabOOAUbaXb_W]bY^[ Z_bTVZZ_bOOCHOSGb_XbabWRXbY^[bZab%`ab7^\]^V Ba]aW]^b]_\\_[`bX_ZbY^QR[_bX`b)`aQa[]_ K^MZ`^bLbTVZZabOODUb>RaZ`]<+b0_Q`[b6\NVUbYZV PUbbY^[W`W]_[JabQ>VbLGSUbb\XbSVAOUb\VaVbSUPDV 49B==CD@D2@>BD3"@>A@ _R\^bOVASAUSS =_`hhdkiV ikcdjikkiik-JJEW^ 6BDC B9ABD 8;8 BD`j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOSSUSS =cdjik-JJEW 6?::?D <D >R^]ab `X_aZ_b `[b \aM`^[_b X`b R[ >Ra\]^b,O?E4bbX_ZZabT`_[abT\^T\`_]<bbX`bR[ ]_\\_[^b Z`N_\^b RN`Ya]^b [_Zb B^QR[_b X` 0a[]ab*a\`abX_ZbB_X\^b,B04bbaZZabbbZ^YaZ`]< 7a[]a[^Vb Ba]aW]aZQ_[]_b -\`W^Z`aHb B`T^ZH Z`[aVbbbb#^[`JJaJ`^[_b7/-BbJ^[ab3@b_W_\H Y`J`^ba]]`I`]<b6M\`Y^Z_1VbB^[K`[`bab[^\XbY^[ Ta\]`Y_ZZab[VbOODUbaXb^I_W]bY^[bTa\]VbOPSU aXb _W]b Y^[b Z_b Ta\]`Y_ZZ_b LLFHAGHLFFb _Xb a
WRXbY^[bTa\]VbLFLV Ba]aW]^b]_\\_[`bX_ZbB^QR[_bX`b-\`W^Z`abbK^H MZ`^bOGUbTa\]`Y_ZZabOPLbUb>RaZ`]<b0_QVb`\\`MVU YZVbPUbbY^[W`W]_[JabQ>VbLAOSUb\VXVbOPVCDUb\VaV LVOGV 49B==CD@D2@>BD3"@>A@D_R\^bbOEVCGEUSS =Ma]iV ikge`c`_`h]fdiidcdjikc`jMa]ji]Ma]iigk-JJEW^ 6BDC B9ABD 8;8 B `j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOVSSSUSS =_`hhd-JJEW 6?::?D .<D R^]ab `X_aZ_b `[b \aM`^[_b X`b R[ Q_JJ^b ,O?P4b b X_ZZab T`_[ab T\^T\`_]<b X`b R[ ]_\\_[^b Z`N_\^b RN`Ya]^b [_Zb B^QR[_b X` 0a[]ab*a\`abX_ZbB_X\^b,B04bbaZZabbbZ^YaZ`]< 7a[]a[^Vb Ba]aW]aZQ_[]_b -\`W^Z`aHb B`T^ZH Z`[aVbbbb#^[`JJaJ`^[_b7/-BbJ^[ab3@b_W_\H Y`J`^b a]]`I`]<b6M\`Y^Z_1Vb b b B^[K`[`b ab [^\X Y^[bZabTa\]`Y_ZZabOPLUbaXb^I_W]bY^[bZabTa\H ]`Y_ZZab[VbOPSUbaXb_W]bY^[bZ_bTa\]`Y_ZZ_b[V LFCb_XbabWRXbY^[bZ_bTa\]`Y_ZZ_bOPPHGAAHOPEH GAGHGAEHOPFHLFAHGLDVbbBa]aW]^b]_\\_[`bX_Z B^QR[_b X`b -\`W^Z`ab b K^MZ`^b OGb TVZZab LFLU >RaZ`]<bbW_Q`[b`\\`MUbYZVbPUbbY^[W`W]_[JabQ>V OCPSUb\XbLVGGUb\abOVSCVb 49B==CD@D2@>BD3"@>A@ _R\^bOLVLPOUSS =igde`V c`_`h]igdcdjikXdjiajk-JJEW^ 6BDC B9ABD 8;8 B `j^]a_djik^ckj^bg`_k^g`V h]jc`k^kTTh`Y]ikg`k^^jkj^bkig]jjk^dffdgd^`jV Zdg`kg`^]^_R\^bOVSSSUSS =_`hhd-JJEW 1]YY`kg`^`jZkg_][`kj`^bgdffk^h]^H]jcdhhdg`] edhhd^ Ofdca[`kj`^ de^ `h^ bgkZdff`kj`fi]^ @dhdV Y]ikW B`^baTTh`cN`^jdhhd^Zkg_d^e`^ca`^fkbg]W Hdig]gk^h`^^>J-J>-CJLC 9Zb7\^K_WW`^[`W]abX_Z_Ma]^bb +CAA1D B9;@;3CD&@/38B9C
Una guida unica per i professionisti del mercato immobiliare, della mediazione creditizia e per tutti coloro che cercano l'affare in un acquisto o in una vendita all'asta. Guido Talarico Editore
Aste Infoappalti lo trovi anche nella versione per iPad L’applicazione è scaricabile gratuitamente nell’App Store
www.aste.eugenius.it www.astepress.it www.quiaste.it www.asteannunci.info asteinfoappalti.it