AsteInfoappalti

Page 1

Nel Lazio i dati Upi – Eures tracciano un trend positivo dal 2011, ma in alcune province della regione aumentano le esecuzioni forzate

Lazio, tiene il mattone, boom di sfratti Roma e Latina sono le piazze piÚ in salute, ma le rilevazioni dell’Istituto Nomisma prospettano un 2013 pieno di ostacoli per chi vorrà comprare casa `^ XF_[ead^ fXXdOf`fe_F^ `eUfe`F^ ]f [dbSF_Xe^f]d`e^SF`f[F^YF_^V`f^fbTFQ ]afad_f^ \F`^ XeaadbFR^ Dd^ [dbSF_Q Xebd^f^\eaf^e__fTeaf^bFf^Y_fXf^Vfd_bf^\f \f[FXO_F^ \e`^ 1eYYd_ad^ ,Yf^ DeUfdQ GZ_F]^ >AH>^ ]Z``d^ ]aead^ \F``F^ ._dQ Tfb[F^ \F`^ DeUfd^ Y_F]Fbaead^ \e` ._F]f\FbaF^ \F``P,.N^ DeUfd^ F^ ._F]fQ \FbaF^\F``e^._dTfb[fe^\f^(_d]fbdbF JbadbF``d^Nebbe_f``f^F^\e`^._F]f\FbaF \F``PGZ_F]^(eOfd^.fe[FbafR^Dd^]aZ\fd _FVf]a_e^ Zbe^ XeVVfd_F^ aFbZae^ FTfQ \FbUfeb\d^Zbe^\fbeXf[e^e\\f_faaZ_e \f^Yd[d^]ZYF_fd_F^e^KZF``e^\F`^>AHA 8 AW> <W^e^S_dbaF^\f^Zb^]fVbfSf[eafTd [e`d^_FVf]a_ead^e^`fTF``d^beUfdbe`F^8Q >W> <R^N`^bZXF_d^\F``F^[dXY_eTFbQ \faF^bF`^XF_[ead^_F]f\FbUfe`F^Ye]]e bF`^DeUfd^\e``F^--RH/?^\F`^>AHA^e``F --R>6-^\F`^>AHHW^[db^Zbe^[_F][fae [db[Fba_eae^ bF``F^ ]d`F^ Y_dTfb[F^ \f 1dXe^ 8 AW7 <^ F^ \f^ Deafbe^ 8 ? <W e[[dXYeVbeae^\e^Te`d_f^\F[_F][Fbaf e^ 1fFaf^ 8Q4W> <W^ 5faF_Od^ 8Q/W: <^ F (_d]fbdbF^ 8Q?W? <R^ CdbaF]aZe`Q XFbaF^]f^_f`FTe^aZaaeTfe^Zb^eZXFbad \Ff^Y_dTTF\fXFbaf^F]F[ZafTf^\f^]S_eaad 8 HW> ^bF`^>AHH^F^7R->?^Y_dTTF\fQ XFbaf^_f[LfF]af^bF`^DeUfdW^e^S_dbaF^\f Zb^[e`d^\F`^>W: ^fb^Nae`fe<I^e^`fTF``d Y_dTfb[fe`FW^_f]Z`ae^]d]aebUfe`XFbaF ]aeOf`F^ f`^ \ead^ \f^ 1dXe^ \dTF^ bF` >AHH^]f^]dbd^_FVf]a_eaf^-R-:-^Y_dTTFQ \fXFbaf^F]F[ZafTf^\f^]S_eaad^8Q^AW/ ^_fQ ]YFaad^e``Pebbd^Y_F[F\FbaF<W^XFba_F Zb^\F[_FXFbad^Yf&^]d]aFbZad^]f^_FQ Vf]a_e^e^1fFaf^8Q>W: <^F^e^5faF_Od^8Q 4WH <R^Nb^[_F][faeW^fbTF[FW^f^Y_dTTFQ \fXFbaf^F]F[ZafTf^e^Deafbe^8 H>W> < FW^]dY_eaaZaadW^e^(_d]fbdbF^\dTF^fb Zb^ebbd^_f]Z`aebd^Yf&^[LF^_e\\dYQ YfeafW^ Ye]]eb\d^ \e^ -6^ bF`^ >AHA^ e H/6^bF`^>AHH^8 HH?W6 <R^De^Y_fb[fQ Ye`F^ [eZ]e^ \F``PFXebeUfdbF^ \Ff Y_dTTF\fXFbaf^F]F[ZafTf^\f^]S_eaad^_fQ

" ! " " ! " ! !

]fF\F^bF``e^[db\fUfdbF^\f^Xd_d]faM \F``PeSSfaaZe_fd^8f`^7:WH ^\Ff^[e]f^bF` DeUfd^ F^ `P:7 ^ fb^ Nae`fe<W^ [db^ `Pfb[fQ \FbUe^ XeVVfd_F^ bF``F^ Y_dTfb[F^ \f 1fFaf^ 867W> <W^ 5faF_Od^ 8::W/ <^ F 1dXe^ 876W7 <W^ _f]YFaad^ e^ Deafbe 8?7W7 <^F^(_d]fbdbF^84HW? <W^\dTF `e^ Sfbfae^ `d[eUfdbF^ _f]Z`ae^ `e^ [eZ]e Y_FTe`FbaF^8/6W7 ^\Ff^[e]f<R^J^Se_F Zbe^Yebd_eXf[e^\F``F^[dXY_eTFbQ \faF^bF`^DeUfd^bF`^>AH>W^fbTF[FW^;^`d ]aZ\fd^\F``e^*eb[e^\PNae`feW^fb^[d``eQ Od_eUfdbF^[db^@F[bdOd_]e^F^`PJVFbQ Ufe^ \F`^ @F__fad_fdR^ N`^ a_Fb\^ ;^ Zb^ YdP

YFVVfd_ead)^fb^[e`d^\F`^>4 ^`F^[dXQ Y_eTFb\faF^]Z`^XF_[ead^fXXdOf`fe_F bF`^ DeUfdR^ EF``e^ Y_fXe^ XFaM^ \F` >AH>^;^Y_d]FVZfae^fbSeaaf^`e^Se]F^\f \FOd`FUUe^\F`^XF_[ead^fXXdOf`fe_F _FVfdbe`FR^EFf^Y_fXf^]Ff^XF]f^f`^XF_Q [ead^Le^_eVVfZbad^f^Te`d_f^XfbfXf^\e` >AA/R^DF^KZdaeUfdbf^\f^XF_[ead^\F``F [dXY_eTFb\faF^fXXdOf`fe_f^]dbd^_fQ Xe]aF^]d]aebUfe`XFbaF^]aeOf`f^fb^aF_Q Xfbf^ bdXfbe`f^ 8AW-^ YF_^ [Fbad<I^ ; Y_d]FVZfae^`e^`d_d^_f\ZUfdbF^e`^bFaad \F``e^ Te_feUfdbF^ \Ff^ Y_FUUf^ e`^ [dbQ ]ZXd^8Q^>W-^YF_^[Fbad<R

:cUdYUe Le^ YZOO`f[ead^ `F^ bZdTF Y_FTf]fdbf^ ]Z``Peb\eXFbad^ \F`^ XF_Q [ead^ fXXdOf`fe_F^ bF`^ >AH4^ >AH/R ._FTf]fdbf^[LF^]dbd^]aeaF^[d__FaaF^e` _fOe]]d^_f]YFaad^e``F^VfM^\f^YF_^];^bFQ VeafTF^Y_dfFUfdbf^\f^KZe`[LF^XF]F^SeW fb^]FVZfad^e^Zbe^_FTf]fdbF^\Ff^Te`d_f \F``d^][Fbe_fd^Xe[_d^F[dbdXf[d^beQ Ufdbe`F^ F^ fbaF_beUfdbe`FR^ =F[db\d KZebad^ eSSF_Xead^ \e^ EdXf]XeW^ bF` [d_]d^\F`^]F[db\d^]FXF]a_F^>AH>^f` [dXYe_ad^ \F``F^ [dXY_eTFb\faF eT_FOOF^ Seaad^ _FVf]a_e_F^ Zbe^ S`F]Q ]fdbF^\F`^>^YF_^[FbadW^[db^Zb^Ye]]d fb\fFa_d^Ye_af[d`e_XFbaF^V_eTF^eb[LF ]Z`^S_dbaF^[dXXF_[fe`FR^Jb[LF^f^[eQ bdbf^ \f^ eSSfaad^ ]aebbd^ ]FVZFb\d^ Zb eb\eXFbad^]fXf`F^e^KZF``d^\Ff^Y_FUUf \f^TFb\faeW^[db^Zb^_Fb\fXFbad^XF\fd `d_\d^ebbZd^\e^`d[eUfdbF^[LF^;^]aeQ Of`F^ \e^ Yf&^ \f^ KZe`[LF^ XF]FR^ .F_ KZebad^[db[F_bF^fbd`a_F^f^bZdTf^XZaZf F_dVeaf^bF`^>AH>W^`e^aFb\FbUe^]FXO_e ]fVbfSf[e_F^ Zbe^ ]d]aebUfe`F^ ][dXQ Ye_]e^\Ff^XZaZf^YF_^]Z__dVe^d^]d]afQ aZUfdbFW^Tf]ad^F^[db]f\F_ead^[LF^bF` >AH>^ `e^ KZdae^ \f^ F_dVead^ \F]afbeae e``F^bZdTF^[db[F]]fdbf^;^]aeae^Ye_f^e` 64^YF_^[FbadW^[dba_d^f`^-/^YF_^[Fbad \F`^>AHAR


Ecco la nuova normativa introdotta dal decreto sviluppo in materia di rapporti tra debitori e creditori

Sovraindebitamento, la disciplina dei consumatori Si potrĂ formulare al Tribunale del luogo dove si ha la residenza una proposta di piano di ristrutturazione \f^ $ " ! !"#

DPe_aR^H:^\F`^[R\R^9F[_Fad^=Tf`ZYYd^Of] 8\R`R^bR^H762>AH>W^fb^[d_]d^\f^[dbTF_Q ]fdbF<W^[LF^Le^Xd\fSf[ead^`e^`FVVF^bR 42>AH>W^Le^fba_d\daad^ZbPeYYd]fae^\fQ ][fY`fbe^\f^[dXYd]fUfdbF^\F``e^[_f]f^\e ]dT_efb\FOfaeXFbad^_f]F_Teae^e`^$CdbQ ]ZXead_F#R^J[[ebad^eV`f^]a_ZXFbaf^Y_FQ Tf]af^ eb[LF^ YF_^ V`f^ fXY_Fb\fad_f^ bdb e]]dVVFaaeOf`f^e``F^Y_d[F\Z_F^[db[d_Q ]Ze`f^F^YF_^f^Y_dSF]]fdbf]af^fbaF``FaaZe`f ^dTTF_d^`e^Y_dYd]ae^ef^[_F\fad_f^\f^Zb e[[d_\d^\f^_f]a_ZaaZ_eUfdbF^\Ff^\FOfaf^d `e^_f[LfF]ae^\f^`fKZf\eUfdbF^\f^aZaaf^OFbf Q^ d_e^ F]aF]f^ eb[LF^ e`^ Cdb]ZXead_FW TfFbF^dSSF_ae^]d`d^e^KZF]aPZ`afXd^ZbPZ`Q aF_fd_F^ ]a_e\e^ YF_^ `e^ [dXYd]fUfdbF \F``e^[_f]f^\e^]dT_efb\FOfaeXFbadR^De YF_]dbe^Sf]f[e^[LF^Le^e]]Zbad^dOO`fQ VeUfdbf^ F][`Z]fTeXFbaF^ YF_^ ][dYf F]a_ebFf^ e``PeaafTfaM^ fXY_Fb\fad_fe`F^ d Y_dSF]]fdbe`F^FTFbaZe`XFbaF^]Td`ae^8f` $Cdb]ZXead_F#<W^\fSeaafW^[LF^]f^a_dTf^fb Zbe^]faZeUfdbF^\f^YF_\Z_ebaF^]KZf`fO_fd a_e^`F^dOO`fVeUfdbf^e]]ZbaF^F^f`^Yea_fXdQ bfd^Y_dbaeXFbaF^`fKZf\eOf`F^YF_^Se_Tf S_dbaF^dTTF_d^bF``e^\FSfbfafTe^fb[eYeQ [faM^\f^e\FXYfF_F^_FVd`e_XFbaF^`F^Y_dQ Y_fF^ dOO`fVeUfdbfW^ Yda_M^ Sd_XZ`e_F^ e` @_fOZbe`F^ \F`^ `ZdVd^ \dTF^ Le^ `e^ _F]fQ \FbUe^Zbe^Y_dYd]ae^\f^Yfebd^\f^_f]a_ZaQ aZ_eUfdbFR^De^Y_dYd]ae^\f^e[[d_\dW^[LF \dT_M^F]]F_F^Y_F]Fbaeae^[db^`PeZ]f`fd

\FV`f^B_Vebf]Xf^\f^[dXYd]fUfdbF^\F``e [_f]f^8BCC<W^\dT_M^Y_FTF\F_F^f`^_FVdQ `e_F^YeVeXFbad^\Ff^[_F\faf^fXYfVbd_eQ Of`fW^f`^YeVeXFbad^fbaFV_e`FW^eb[d_[L' \f`eUfdbeadW^\Ff^a_fOZaf^F^f`^YeVeXFbadW eb[LF^Ye_Ufe`FW^\Ff^[_F\fad_f^XZbfaf^\f Y_fTf`FVfdW^YFVbd^d^fYdaF[eW^YZ_[L'^fb Xf]Z_e^bdb^fbSF_fd_F^e^KZF``e^_Fe`fUUeQ Of`F^fb^[e]d^\f^`fKZf\eUfdbF^\Ff^OFbf^d

\Ff^\f_faaf^]Zf^KZe`f^fb]f]aF^`e^[eZ]e^\f Y_F`eUfdbFR^J``e^Y_dYd]aeW^[LF^\dT_M [dbaFbF_F^`e^_f[d]a_ZUfdbF^\F``e^Yd]fQ UfdbF^ Sf][e`F^ d`a_F^ e``3fb\f[eUfdbF^ \f FTFbaZe`f^[dbaFbUfd]f^YFb\FbafW^\dT_M F]]F_F^e``FVeae^Zbe^_F`eUfdbF^Ye_af[dQ `e_FVVfeae^\F``PBCC^_F`eafTe^e``F^[eZ]F \F``3fb\FOfaeXFbadW^e``F^_eVfdbf^\F``3fbQ [eYe[faM^\F`^\FOfad_F^\f^e\FXYfF_F^`F

dOO`fVeUfdbf^e]]ZbaFW^e``F^e`a_F^fbSd_Q XeUfdbf^]Z``d^]aead^Yea_fXdbfe`F^bdbQ [L'^ e``e^ [dbTFbfFbUe^ \F`^ Yfebd _f]YFaad^e``3e`aF_beafTe^`fKZf\ead_feR^5FQ _fSf[eae^`e^SeaafOf`faM^\F`^Yfebd^f`^@_fOZQ be`F^ Y_dTTF\F_M^ e``e^ ]Ze dXd`dVeUfdbF^ ]d`d^ ]F^ _faF__M^ [LF^ f` [db]ZXead_F^bdb^Le^e]]Zbad^dOO`fVeQ Ufdbf^]FbUe^`e^_eVfdbFTd`F^Y_d]YFaafTe \f^ YdaF_`F^ e\FXYfF_F^ dTTF_d^ [LF^ `d ]aF]]d^ bdb^ Le^ [d`Yd]eXFbaF^ Y_dTdQ [ead^f`^]dT_efb\FOfaeXFbadW^eb[LF^YF_ XFUUd^\f^Zb^_f[d_]d^e`^[_F\fad^]Y_dYd_Q Ufdbead^_f]YFaad^e``F^Y_dY_fF^[eYe[faM Yea_fXdbfe`fR^N`^YfebdW^Zbe^Td`ae^dXd`dQ VeadW^]e_M^dOO`fVead_fd^YF_^aZaaf^f^[_F\fQ ad_f^ebaF_fd_f^XFba_F^KZF``f^[db^[eZ]e d^afad`d^Yd]aF_fd_F^bdb^Yda_ebbd^Y_d[FQ \F_F^F]F[ZafTeXFbaF^]Zf^OFbf^dVVFaad \F`^YfebdR^1f]YFaad^e``F^e`a_F^Sd_XF^\f [dXYd]fUfdbF^\F``e^[_f]f^\e^]dT_efb\FQ OfaeXFbadW^f^[_F\fad_f^\F`^Cdb]ZXead_F _f]Z`aF_ebbd^[F_aeXFbaF^YFbe`fUUeaf^fb KZebad^bdb^]d`d^bdb^eT_ebbd^\f_faad^\f Tdad^ ]Z`^ Yfebd^ Q^ F^ \dT_ebbdW^ KZfb\fW ]ZOf_F^ f^ VfZ\fUf^ Sd_XZ`eaf^ ]Z^ \f^ F]]d \e``PBCC^F^\e`^VfZ\f[F^Q^Xe^Yda_ebbd F]]F_F^]daadYd]afW^d`a_F^e``e^Se`[f\fe^\Ff Y_dY_f^[_F\fafW^eb[LF^e\^Zbe^Xd_ead_fe YF_^f`^YeVeXFbad^\FV`f^]aF]]f^Sfbd^e\ Zb^ ebbd^ \e``e^ dXd`dVeUfdbF^ \F` YfebdR bg1^V]dcg8fPe_fg8fc`f

L’accordo tra Abi e notai consentirà il colloquio telematico tra banche e professionisti del settore

“Mutui Connectâ€?, al via la portabilitĂ online A breve sarĂ nominato un organo collegiale per vigilare sul buon andamento dell’iniziativa, il tutto a costo zero De^ OZ_d[_eUfe^ bdae_f`F^ ]f^ a_e]SF_f][F ]FXY_F^ \f^ Yf&^ ]Z``e^ _FaFR^ J\F]]d eb[LF^`e^Yd_aeOf`faM^\Ff^XZaZf^;^_Fe`fUQ UeOf`F^db`fbF^V_eUfF^e`^Y_dVFaad^$+ZaZf CdbbF[a#^fba_d\daad^\e`^Y_dad[d``d^\PfbQ aF]e^]afYZ`ead^a_e^Cdb]fV`fd^beUfdbe`F \F`^bdae_fead^F^J]]d[feUfdbF^Oeb[e_fe fae`febe^bFf^Vfd_bf^][d_]fR^=Z``e^YfeaaeQ Sd_Xe^aF`FXeaf[eW^YF_aebadW^]e_M^Yd]Q ]fOf`F^ fb\fTf\Ze_F^ ]YF[fSf[LF Y_d[F\Z_F^\f^[d``dKZfd^F`Faa_dbf[d^a_e Oeb[LF^F^bdaefR^N`^]f]aFXe^fbSd_Xeaf[d ;^]aead^[_FeadW^]f^[LfeXe^J*N2Cdb]d_Q UfdC*N^YF_^`F^Oeb[LF^8F^fbaF_XF\fe_f< F^ YfeaaeSd_Xe^ 1,E2Edae_aF`^ YF_^ f EdaefR^+eb[eTe^`Pe[[d_\dW^F\^;^e__fQ Tead^eb[LF^KZF]ad^V_eUfF^e``PfbaF]e^a_e

JOf^ F^ bdaefR^ B_e^ YZ ^ KZfb\f^ \e_]f [d_]d^e``e^\FSfbfUfdbF^[dbTFbUfdbe`F \Ff^[_faF_f^\f^_Fe`fUUeUfdbF^F^VF]afdbF \F`^bZdTd^]F_TfUfdR^De^Y_fXe^eYY`f[eQ UfdbF^Y_FTf]ae^\F``e^YfeaaeSd_Xe^;^eYQ YZbad^$+ZaZf^CdbbF[a#R^=f^a_eaae^\f^Zbe Y_d[F\Z_e^[LF^Le^`d^][dYd^\f^[db]FbQ af_F^ f`^ YF_SFUfdbeXFbad^ \F``F^ dYF_eQ Ufdbf^ \f^ Yd_aeOf`faM^ \Ff^ XZaZf^ fb Xd\e`faM^ aF`FXeaf[e^ [db^ f`^ [d``FVeQ XFbad^a_e^Oeb[LFW^fbaF_XF\fe_f^SfbebQ Ufe_f^ F^ bdaefR^ N^ ]dVVFaaf^ [dfbTd`af Yda_ebbd^YF_aebad^[d``FVe_]f^e`^Y_dY_fd ]f]aFXe^\f^_fSF_fXFbadW^][eXOfeb\d]f S`Z]]f^fbSd_XeafTf^F^\d[ZXFbaf^]F[db\d Zb^Y_d[F]]d^[db\fTf]dW^fb^]f[Z_FUUe^F [db^YfFbe^Te`f\faM^VfZ_f\f[eR^@e`F^fbfQ

UfeafTe^ _f]Ydb\F^ [F_aeXFbaF^ e``PF]fQ VFbUe^ \f^ _eYf\faM^ \F``PdYF_eUfdbF^ \f ]Z__dVe^]Z^[ZfW^aZaaeTfeW^YF]ebd^aFXYf F[[F]]fTeXFbaF^_f]a_Faaf^8HA^Vfd_bf^\f [e`Fb\e_fd<^ _F[FbaFXFbaF^ fba_d\daaf \e`^`FVf]`ead_FW^[LF^]aebbd^_eYY_F]FbQ aeb\d^ Zb^ Tfb[d`d^ fXYd_aebaF^ e`^ ]fQ ]aFXe^\F``e^Yd_aeOf`faMW^[dXF^YF_e`a_d VfM^]FVbe`ead^e`^0dTF_bd^F^e`^.e_`eQ XFbad^ eb[LF^ \e``F^J]]d[feUfdbf^ \Ff Cdb]ZXead_fR^$+ZaZf^CdbbF[a#^ ^f`^[Zf fXYfFVd^ bdb^ [dXYd_ae^ e`[Zb^ [d]ad YF_^ f`^ [faae\fbd^ ^ a_dTe^ eYY`f[eUfdbF ]d`d^\dYd^[LF^f`^[`fFbaF^eOOfe^TF_fSfQ [ead^]Z`^XF_[ead^`F^XfV`fd_f^[db\fUfdbf dSSF_aF^\e``F^Oeb[LFW^e[KZf]faF^`F^_F`eQ afTF^Y_dYd]aF^F^KZeb\d^`e^Oeb[e^]ZQ

OFba_ebaF^eOOfe^Te`Zaead^`e^SeaafOf`faM \F``PdYF_eUfdbF^ \f^ F_dVeUfdbF^ d^ \f Yd_aeOf`faM^\F`^XZaZdR^ ^Ydf^Y_FTf]ae^`e bdXfbe^ \f^ Zb^ d_Vebd^ [d``FVfe`F^JOfQ Cbb^[LF^F]F_[faF_M^`F^Z`afXF^eaa_fOZQ Ufdbf)^ ebe`fUUe_F^ f`^ XF_[ead^ \F``e Yd_aeOf`faM^\Ff^XZaZf^F^YZOO`f[e_F^Zbd ]YF[fSf[d^_FYd_a^ebbZe`F^bF`^KZe`F^]eQ _ebbd^_fYd_aeaf^`F^_f]Z`aebUF^KZebafaeQ afTe^\F``Pebe`f]fI^Y_dYd__F^Xd\fSf[LF^e` Y_F]FbaF^Y_dad[d``d^F^e`^]Zd^e``FVead aF[bf[dW^ eb[LF^ fb^ Tf]ae^ \F``e^ `d_d F]aFb]fdbF^ e^ bZdTF^ fbfUfeafTF^ F^ eaafQ TfaMI^ Y_F\f]Yd__F^ Zbe^ _F`eUfdbF^ ebQ bZe`F^ Fba_d^ f`^ XF]F^ \f^ eY_f`F ]Z``Peb\eXFbad^ \F``PfbfUfeafTe^ F^ TfVfQ `e_F^]Z`^OZdb^eb\eXFbad^\F``PfbfUfeafTe


! ! ! !"

/@Y^fgEe_eOade.


) " "

;6A(*:@8>g)AgE@;@:&@6'g 0`f^fXXdOf`f^]dbd^TFb\Zaf^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^]f^a_dTebdR^D3dSSF_FbaFW^[db^`3dSQ SF_aeW^\f[Lfe_e^\f^[dbd][F_F^`d^]aead^ \F``3fXXdOf`FR^DF^YF_fUfF^]dbd^_FYF_fOf`f^a_eXfaF fbSd_XeUfdbf^fb^Ceb[F``F_fe^F^]Z^!!!Ra_fOZbe`FQ \f[eaebUe_dRbFaR^D3dSSF_FbaF^\FTF^\FYd]fae_F^fb Ceb[F``F_fe^Fba_d^`F^d_F^H>^\F`^Vfd_bd^Y_F[FQ \FbaF^`e^TFb\fae^`e^]dXXe^fb\f[eae^e^[eZUfdbFR N`^]e`\d^Te^YeVead^Fba_d^-A^Vfd_bfR^D3e[KZf]ad^; SfbebUfeOf`F^[db^XZaZd^fYdaF[e_fd^a_eXfaF^[dbQ TFbUfdbF^]afYZ`eae^a_e^f`^@_fOZbe`F^F\^f^]FVZFbaf f]afaZaf^\f^[_F\fad)^*.C^Q^+dbaF^\Ff^.e][Lf^\f =fFbe^Q^=eb^.ed`d^N+N^Q^*eb[d^\f^EeYd`f^Q *eb[e^Ce_fXF^Q^*eb[e^\f^CeaebUe_d^Q^*eb[d^\f 1dXe^Q^*eb[e^.dYd`e_F^\f^*e_fR^+eVVfd_f^fbSd_Q XeUfdbf^Y_F]]d^`F^Oeb[LFR ;6A(*:@8>g)Ag8@%>&A@g;>6%> ^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad^Ye_f^e` 7AQ:A ^\F`^Y_FUUd^Oe]F^eV`f^f]afaZaf^\f^[_F\fad [LF^Lebbd^e\F_fad^e``3fbaF]e^[db^f^@_fOZbe`f^\f DeXFUfe^@F_XF^F^CeaebUe_dW^d]]fe)^*eb[e^CeQ _fXFW^=eb^.ed`d^N+NW^*eb[d^\f^EeYd`fW^*eb[e .dYd`e_F^\f^C_dadbFW^+dbaF^\Ff^.e][Lf^\f =fFbeW^*eb[e^\f^CeaebUe_dR^N^XZaZf^]e_ebbd Ve_ebafaf^\e^fYdaF[e^\e^f][_fTF_F^]Z``d^]aF]]d fXXdOf`F^Yd]ad^fb^TFb\faeR^+eVVfd_f^fbSd_XeQ Ufdbf^Yd]]dbd^F]]F_F^_f[LfF]aF^\f_FaaeXFbaF e``F^Oeb[LF^fbaF_F]]eaFR ;6A(*:@8>g)Ag0@8%A G=GC,%NBEN^N++B*NDNJ1N^ Q^5Fb\fae^[db^fb[ebad) EcUfgXea^fZdXeaf 9dXeb\e^fb^[e_ae^`FVe`F^[db^fb\f[eUfdbF^\F` OFbFW^\F`^YFUUd^dSSF_adW^\F``e^\eae^\f^TFb\faeW^F \F``e^Y_d[F\Z_e^e^[Zf^]f^_fSF_f][F^\e^Y_F]Fbae_F Fba_d^`F^d_F^H>WAA^\F`^Vfd_bd^ebaF[F\FbaF^`e TFb\fae^8`ZbQTFb^d_F^6WAAQH>WAA<^ZbfaeXFbaF^e \ZF^e]]FVbf^[f_[d`e_f^bdb^a_e]SF_fOf`f^a_eaaf^\eV`f N]afaZaf^*eb[e_f^\f^]FVZfad^F`Fb[eafW^\F``PfXYd_ad _f]YFaafTeXFbaF^Ye_f^e`^>A ^YF_^[eZUfdbF^F^e` HA ^YF_^]YF]F^_F[ebaf^f`^bZXF_d^\F``e^Y_d[FQ \Z_e^F^e^\ZF^Xe_[LF^\f^FZ_d^HW>6^[fe][ZbeR^N` aZaad^\e^Y_F]Fbae_F^e``e^[eb[F``F_fe^F]F[ZUfdbf fXXdOf`fe_f^\F`^@_fOZbe`F^\f^.e`Xf^Tfe^1dXe Yfebd^aF__eR^EF``e^\dXeb\e^`PdSSF_FbaF^\FTF^fbQ \f[e_F^`F^Y_dY_fF^VFbF_e`faM^f`^Y_dY_fd^CR(RW^]F fbaFb\F^eTTe`F_]f^\F``F^eVFTd`eUfdbf^\F``e Y_fXe^[e]e^F^]F^[dbfZVead^F\^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfR^9dT_ebbd^F]]F_F^fbQ \f[eaf^eb[LF^f^[d__f]Ydb\Fbaf^\eaf^\F`^[dbfZVFR ._fXe^\f^Se_F^`PdSSF_ae^`FVVF_F^`e^YF_fUfe^F^`Pd_\fQ bebUeR G=GC,%NBEN^N++B*NDNJ1N 5Fb\fae^]FbUe^fb[ebad) EcUfgXea^fZdXeaf BVbZbd^;^eXXF]]d^e\^dSS_f_F^YF_^`Pe[KZf]ad \F`^OFbFW^e\^F[[FUfdbF^\F`^\FOfad_FR^DPdSSFQ _FbaF^\FTF^\FYd]fae_F^fb^Ceb[F``F_fe^Zbe^\fQ [Lfe_eUfdbF^[dbaFbFbaF)^ Q^f`^Y_FUUd^dSSF_ad^8[LF^bdb^YZ ^F]]F_F^fbSF_fd_F e^KZF``d^]afXead^d^]Z[[F]]fTeXFbaF^_fOe]]ead \e`^0fZ\f[F<I^ Q^f`^aFXYd^F^Xd\d^YeVeXFbad^\F`^Y_FUUdI 9FTF^\FYd]fae_FW^fb^OZ]ae^[LfZ]e^[dba_e]]FQ Vbeae^[db^Zbd^Y]FZ\dbfXd^\f^Sebae]feW^Zbe ]dXXe^Ye_f^e`^HA ^\F`^Y_FUUd^dSSF_ad^[db^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aeae^e``e Y_d[F\Z_e^YF_^[eZUfdbFR^J``PZ\fFbUe^Sf]]eae^]f Y_d[F\F_M^e``PFTFbaZe`F^Ve_e^a_e^Yf&^dSSF_FbafR Cdb\fUfdbf^[dXZbf^YF_^e[[F\F_F^e``e^TFb\fae^fb >1>E*&A':AB+@88A%>:;A @Zaaf^Yd]]dbd^Ye_aF[fYe_F^e``F^TFb\faF^VfZ\fUfeQ _fF^F[[Faad^f`^\FOfad_FR^BVbf^fXXdOf`F^;^]afXead \e^Zb^YF_fad^\F`^a_fOZbe`FR^ De^Y_dY_fFaM^;^a_e]SF_fae^\e`^0fZ\f[F^[db^\FQ [_Fad^FXF]]d^e\^eTTFbZad^TF_]eXFbad^\F` Y_FUUd^bF`^aF_XfbF^fb\f[ead^\e``d^]aF]]dR^9f aZaaF^`F^fYdaF[LF^F\^f^YfVbd_eXFbaf^]F^F]f]aFbaf ;^d_\fbeae^`e^[eb[F``eUfdbF^F^]e_ebbd^FSSFaQ aZeaF^e^[Z_e^\F`^[eb[F``fF_FR BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFb\fae ]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fd^8]YF]F^\f^_FVfQ ]a_eUfdbF^Q^a_e][_fUfdbF^Q^Td`aZ_e^[eae]ae`F^Q [eb[F``eUfdbF^F^a_e][_fUfdbf<R^.F_^V`f^fXXdOf`f d[[ZYeaf^\e`^\FOfad_F^d^\e^aF_Uf^]FbUe^afad`d^f` 0fZ\f[F^bF^d_\fbe^`PfXXF\feae^`fOF_eUfdbFR +eVVfd_f^F^Yf&^\FaaeV`feaf^fbSd_XeUfdbf^Y_F]]d `e^[eb[F``F_fe^F]F[ZUfdbf^fXXdOf`fe_f2Se``fXFbQ ae_fR *eb[LF^[LF^Lebbd^e\F_fad^e``e^[dbTFbUfdbF) Q^NE@G=J^(f`fe`F^\f^.e`Xf^Q^5fe^.dFaeW^HA:6AH? .JD+N^81[<^1FSF_FbaF)^=fVR^+e_[F``d^+e][e`[Lf @F`R^A6--2>-7?HH Q^CJ1N+G^Q^(f`fe`F^\f^.e`Xf^Q^5fe^1dXeW^// :6AH? .JD+N^81[<^1FSF_FbaF)^9_R]]e^9Fd\ead^@F`R A6--2>>7AA (JDDN+GE@N

e<^[d`d_d^[LF^fbaFb\dbd^Ye_aF[fYe_F^e``Pe]aeW \dT_ebbd^Se_^YF_TFbf_F^fb^OZ]ae^[LfZ]e^e``e Ceb[F``F_fe^\F``PZSSf[fd^Se``fXFbae_FW^Fba_d^`F^d_F H>RAA^\F`^Vfd_bd^ebaF[F\FbaF^e``e^\eae^Sf]]eae YF_^`e^TFb\faeW^Zbe^\f[Lfe_eUfdbF^]daad][_faae [dbaFbFbaF) Q^`PfXYFVbd^f__FTd[eOf`F^F\^F]Y_F]]d^\F``PdSSFQ _FbaF^e^Ye_aF[fYe_F^e``Pe]ae^fb\FaaeW^e^YFbe^\f YF_\fae^\F``e^[eZUfdbF^fb^[e]d^\f^Xeb[eae^Ye_Q aF[fYeUfdbF Q^fb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^\e^YF_]dbe^SfQ ]f[eW^`Pfb\f[eUfdbF^\F`^Y_dY_fd^[d\f[F^Sf][e`FW^`e _F]f\FbUe^FW^]F^]f^a_eaae^\f^YF_]dbe^Sf]f[e^[dQ bfZVeaeW^Zbe^eZad\f[Lfe_eUfdbF^fb^d_\fbF^e`^_FQ VfXF^Yea_fXdbfe`F Q^fb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^YF_^[dbad^\f^Zbe ]d[fFaMW^`Pfb\f[eUfdbF^\f^Ye_afae^N5JW^bdb[L' \dT_M^F]]F_F^Y_d\daad^[F_afSf[ead^\F`^_FVf]a_d \F``F^fXY_F]F^\e`^KZe`F^_f]Z`af^`e^[d]afaZUfdbF \F``e^]d[fFaMW^_FVd`e_XFbaF^f][_faae^F\^f^YdaF_f [dbSF_faf^e``PdSSF_FbaF Q^`PF`FUfdbF^\f^\dXf[f`fd^Y_F]]d^f`^CdXZbF^\f .e`Xf^]F^bdb^]f^_f]fF\F^fb^ae`F^[dXZbFI O<^e``e^\dXeb\e^\f^eXXf]]fdbF^\f^TFb\fae \FTF^F]]F_F^e``FVeadW^e^afad`d^\f^\FYd]fad^YF_ [eZUfdbF^F^]YF]FW^Zb^e]]FVbd^[f_[d`e_F^fbaFQ ]aead^e`^CZ_ead_F^YF_^`F^]FVZFbaf^]dXXF) Q^HA ^\F`^Y_FUUd^dSSF_ad^e^afad`d^\f^[eZUfdbFI Q^H? ^\F`^Y_FUUd^dSSF_ad^KZe`F^]dXXe^[d__fQ ]Ydb\FbaF^e``PeXXdbae_F^eYY_d]]fXeafTd^\F``F ]YF]F^\f^Y_d[F\Z_e^F^\f^TFb\fae^8a_e^[Zf^`PN5JW KZeb\d^;^\dTZae<R^@e`f^]YF]F^]dbdW^fb^Tfe^Y_FQ ]ZbafTeW^_f[dXY_F]F^bF`^TF_]eXFbad^\F`^H? W YF_aebad^]dbd^SeaaF^]e`TF^FTFbaZe`f^]Z[[F]]fTF fbaFV_eUfdbfI [<^bF`^[d_]d^\F``e^Ve_e^`e^Xf]Z_e^XfbfXe^\F`Q `PeZXFbad^\e^eYYd_ae_]f^e``F^dSSF_aF^fb^_f`eb[fd^; \FaF_Xfbeae^bF``e^]aF]]e^Xf]Z_e^Sf]]eae^YF_^f` Y_fXd^_f`eb[fd^]Z`^Y_FUUd^Oe]FI \<^f`^aF_XfbF^YF_^f`^TF_]eXFbad^8XF\febaF^e]]FQ Vbd^fbaF]aead^e``e^[Z_eaF`e<^\F`^_F]f\Zd^Y_FUUd ;^Sf]]ead^fb^Vfd_bf^-A^\e``PeVVfZ\f[eUfdbF^FW ]d`d^e``PF]fad^\F``PfbaF_d^TF_]eXFbad^\F``e ]dXXeW^f`^0fZ\f[F^\F`FVead^Y_dTTF\F_M^e`Q `PFXebeUfdbF^\F`^\F[_Fad^\f^a_e]SF_fXFbadW^ef ]Fb]f^\F``Pe_af[d`d^?:-^[R^YR^[RR^Nb^[e]d^\f^fbeQ \FXYfXFbadW^e``d^][e\F_F^\F`^aF_XfbF^\f^]F]Q ]ebae^Vfd_bfW^`PeVVfZ\f[eae_fd^]e_M^\f[Lfe_ead \F[e\Zad^\e`^\f_faadW^[db^YF_\fae^\F``e^[eZQ UfdbFW^]e`Te^`PFTFbaZe`F^[db\ebbe^e^YeVe_F^`e \fSSF_FbUe^\f^[Zf^e``e^]F[db\e^Ye_aF^\F``Pe_aR ?:7^[RYR[RI F<^bF``d^]aF]]d^aF_XfbF^F^[db^`F^XF\F]fXF^XdQ \e`faM^\f^[Zf^e`^Y_F[F\FbaF^YZbad^\<W^`PeVVfZ\fQ [eae_fd^\dT_M^fbaFV_e_F^`e^]dXXe Y_FTFbafTeXFbaF^\FYd]faeae^e^afad`d^\f^]YF]F Y_F]ZbafTF^\f^TFb\fae^Sfbd^e^_eVVfZbVF_F^f`^H? \F`^Y_FUUd^\f^eVVfZ\f[eUfdbFW^]daad^YFbe^\f^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbF^XF\F]fXe^ef ]Fb]f^\F`^[faead^e_aR^?:7^[RYR[RR^BTF^`PfXXdOf`F ]fe^]aead^eVVfZ\f[ead^e^]FVZfad^\F`^]d`d^_f`eb[fd XfbfXd^dOO`fVead_fdW^`PeVVfZ\f[eae_fd^;^\f]YFbQ ]ead^\e``PdOO`fVd^\F``PfbaFV_eUfdbF^YF_^]YF]FI S<^V`f^dbF_f^Sf][e`f^\F``e^TFb\fae^8N5J^d^_FVf]a_d<^F `F^]YF]F^\f^a_e][_fUfdbF^F^\f^[eb[F``eUfdbF^\F``F Sd_Xe`faM^fYdaF[e_fF^]e_ebbd^e^[e_f[d^\F``Pe[Q KZf_FbaFR^Edb^Tf^]dbd^]YF]F^bdae_f`F^d^\f^XFQ \feUfdbFI V<^f`^CZ_ead_F^Y_dTTF\F_M^e^aZaaf^V`f^e\FXYfQ XFbaf^_F`eafTf^e``e^a_e][_fUfdbF^\F`^\F[_Fad^\f a_e]SF_fXFbad^F\^e``e^[eb[F``eUfdbF^\F``F^Sd_Q Xe`faM^f][_faaF^d^a_e][_faaF^e^[e_f[d^\F``e^Yd_Q UfdbF^fXXdOf`fe_F^fb^dVVFaadR^DPF]F[ZUfdbF \F``F^Td`aZ_F^[eae]ae`f^;^_fXF]]e^fbTF[F^e``PfbfQ UfeafTe^\F``Pe[KZf_FbaFI L<^V`f^eVVfZ\f[eae_f^Yda_ebbd^Z]ZS_Zf_F^\F``e [db[F]]fdbF^\f^XZaZf^eVFTd`eaf^bF``Pe[[F]]d YF_^Zb^fXYd_ad^Sfbd^e``P:A ^\F`^Y_FUUd^\FV`f^fXQ XdOf`fW^YF_^[dXF^[db[d_\ead^\e`^@_fOZbe`F^[db e`[Zbf^N]afaZaf^Oeb[e_fR^=Z`^YZbad^XeVVfd_f^fbSd_Q XeUfdbf^Yd]]dbd^F]]F_F^_f[LfF]aF^Y_F]]d^`e Ceb[F``F_fe^Se``fXFbae_FI f<^ef^Ye_aF[fYebaf^e``Pe]aeW^[LF^bdb^]febd^\fTFQ bZaf^eVVfZ\f[eae_fW^TF__M^_F]afaZfad^f`^\FYd]fad YF_^[eZUfdbF^F^]YF]FW^]ZOfad^\dYd^`e^FSSFaaZeQ UfdbF^\F``e^Ve_eR G=GC,%NBEN^N++B*NDNJ1N^ Q^5Fb\fae^[db^fb[ebad) EcUfgXea^fZdXeaf 9dXeb\e^fb^[e_ae^`FVe`F^[db^fb\f[eUfdbF^\F` OFbFW^\F`^YFUUd^dSSF_adW^\F``e^\eae^\f^TFb\faeW^F \F``e^Y_d[F\Z_e^e^[Zf^]f^_fSF_f][F^\e^Y_F]Fbae_F Fba_d^`F^d_F^H>WAA^\F`^Vfd_bd^ebaF[F\FbaF^`e TFb\fae^8`ZbQTFb^d_F^6WAAQH>WAA<^ZbfaeXFbaF^e \ZF^e]]FVbf^[f_[d`e_f^bdb^a_e]SF_fOf`f^a_eaaf^\eV`f N]afaZaf^*eb[e_f^\f^]FVZfad^F`Fb[eafW^\F``3fXYd_ad _f]YFaafTeXFbaF^Ye_f^e`^>A ^YF_^[eZUfdbF^F^e` HA ^YF_^]YF]F^_F[ebaf^f`^bZXF_d^\F``e^Y_d[FQ \Z_e^F^e^\ZF^Xe_[LF^\f^FZ_d^HW>6^[fe][ZbeR^N` aZaad^\e^Y_F]Fbae_F^e``e^[eb[F``F_fe^F]F[ZUfdbf fXXdOf`fe_f^\F`^@_fOZbe`F^\f^.e`Xf^Tfe^1dXe Yfebd^aF__eR EF``e^\dXeb\e^`3dSSF_FbaF^\FTF^fb\f[e_F^`F^Y_dQ Y_fF^VFbF_e`faM^f`^Y_dY_fd^CR(RW^]F^fbaFb\F^eTTeQ

`F_]f^\F``F^eVFTd`eUfdbf^\F``e^Y_fXe^[e]e^F^]F [dbfZVead^F\^fb^_FVfXF^\f^[dXZbfdbF^`FVe`F \Ff^OFbfR^9dT_ebbd^F]]F_F^fb\f[eaf^eb[LF^f^[d_Q _f]Ydb\Fbaf^\eaf^\F`^[dbfZVFR ._fXe^\f^Se_F^`3dSSF_ae^`FVVF_F^`e^YF_fUfe^F^`3d_\fQ bebUeR G=GC,%NBEN^N++B*NDNJ1N^5Fb\fae^]FbUe^fbQ [ebad) CdXF^Ye_aF[fYe_F BVbZbd^;^eXXF]]d^e\^dSS_f_F^YF_^`3e[KZf]ad \F`^OFbFW^e\^F[[FUfdbF^\F`^\FOfad_FR^D3dSSFQ _FbaF^\FTF^\FYd]fae_F^fb^Ceb[F``F_fe^Zbe^\fQ [Lfe_eUfdbF^[dbaFbFbaF) Q^f`^Y_FUUd^dSSF_ad^8[LF^bdb^YZ ^F]]F_F^fbSF_fd_F e^KZF``d^]afXead^d^]Z[[F]]fTeXFbaF^_fOe]]ead \e`^0fZ\f[F<I Q^f`^aFXYd^F^Xd\d^YeVeXFbad^\F`^Y_FUUdI^9FTF \FYd]fae_FW^fb^OZ]ae^[LfZ]e^[dba_e]]FVbeae [db^Zbd^Y]FZ\dbfXd^\f^Sebae]feW^Zbe^]dXXe Ye_f^e`^HA ^\F`^Y_FUUd^dSSF_ad^[db^e]]FVbd^[f_Q [d`e_F^bdb^a_e]SF_fOf`F^fbaF]aeae^e``e^Y_d[F\Z_e YF_^[eZUfdbFR^J``3Z\fFbUe^Sf]]eae^]f^Y_d[F\F_M e``3FTFbaZe`F^Ve_e^a_e^Yf&^dSSF_FbafR Cdb\fUfdbf^[dXZbf^YF_^e[[F\F_F^e``e^TFb\fae^fb >1>E*&A':AB+@88A%>:;A @Zaaf^Yd]]dbd^Ye_aF[fYe_F^e``F^TFb\faF^VfZ\fUfeQ _fF^F[[Faad^f`^\FOfad_FR^BVbf^fXXdOf`F^;^]afXead \e^Zb^YF_fad^\F`^a_fOZbe`FR^De^Y_dY_fFaM^;^a_eQ ]SF_fae^\e`^0fZ\f[F^[db^\F[_Fad^FXF]]d^e\^eTQ TFbZad^TF_]eXFbad^\F`^Y_FUUd^bF`^aF_XfbF fb\f[ead^\e``d^]aF]]dR^9f^aZaaF^`F^fYdaF[LF^F\^f YfVbd_eXFbaf^]F^F]f]aFbaf^;^d_\fbeae^`e^[eb[F`Q `eUfdbF^F^]e_ebbd^FSSFaaZeaF^e^[Z_e^\F`^[eb[F`Q `fF_FR^^BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e TFb\fae^]e_M^e^[e_f[d^\F``3eVVfZ\f[eae_fd^8]YF]F \f^_FVf]a_eUfdbF^Q^a_e][_fUfdbF^Q^Td`aZ_e^[eaeQ ]ae`F^Q^[eb[F``eUfdbF^F^a_e][_fUfdbf<R^.F_^V`f^fXQ XdOf`f^d[[ZYeaf^\e`^\FOfad_F^d^\e^aF_Uf^]FbUe afad`d^f`^0fZ\f[F^bF^d_\fbe^`3fXXF\feae^`fOF_eQ UfdbFR +eVVfd_f^F^Yf&^\FaaeV`feaf^fbSd_XeUfdbf^Y_F]]d `e^[eb[F``F_fe^F]F[ZUfdbf^fXXdOf`fe_f2Se``fXFbQ ae_fR^*eb[LF^[LF^Lebbd^e\F_fad^e``e^[dbTFbQ UfdbF) Q^NE@G=J^(f`fe`F^\f^.e`Xf^Q^5fe^.dFaeW^HA:6AH?^.JD+N^81[<^1FSF_FbaF)^=fVR^+e_[F``d +e][e`[Lf^@F`R^A6--2>-7?HH Q^CJ1N+G^Q^(f`fe`F^\f^.e`Xf^Q^5fe^1dXeW^// :6AH?^.JD+N^81[<^1FSF_FbaF)^9_R]]e^9Fd\ead @F`R^A6--2>>7AA +@88A%>:;A e<^[d`d_d^[LF^fbaFb\dbd^Ye_aF[fYe_F^e``3e]aeW \dT_ebbd^Se_^YF_TFbf_F^fb^OZ]ae^[LfZ]e^e``e Ceb[F``F_fe^\F``3ZSSf[fd^Se``fXFbae_FW^Fba_d^`F^d_F H>RAA^\F`^Vfd_bd^ebaF[F\FbaF^e``e^\eae^Sf]]eae YF_^`e^TFb\faeW^Zbe^\f[Lfe_eUfdbF^]daad][_faae [dbaFbFbaF) Q^`3fXYFVbd^f__FTd[eOf`F^F\^F]Y_F]]d^\F``3dSSFQ _FbaF^e^Ye_aF[fYe_F^e``3e]ae^fb\FaaeW^e^YFbe^\f YF_\fae^\F``e^[eZUfdbF^fb^[e]d^\f^Xeb[eae^Ye_Q aF[fYeUfdbF Q^fb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^\e^YF_]dbe^SfQ ]f[eW^`3fb\f[eUfdbF^\F`^Y_dY_fd^[d\f[F^Sf][e`FW^`e _F]f\FbUe^FW^]F^]f^a_eaae^\f^YF_]dbe^Sf]f[e^[dQ bfZVeaeW^Zbe^eZad\f[Lfe_eUfdbF^fb^d_\fbF^e`^_FQ VfXF^Yea_fXdbfe`F Q^fb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^YF_^[dbad^\f^Zbe ]d[fFaMW^`3fb\f[eUfdbF^\f^Ye_afae^N5JW^bdb[L' \dT_M^F]]F_F^Y_d\daad^[F_afSf[ead^\F`^_FVf]a_d \F``F^fXY_F]F^\e`^KZe`F^_f]Z`af^`e^[d]afaZUfdbF \F``e^]d[fFaMW^_FVd`e_XFbaF^f][_faae^F\^f^YdaF_f [dbSF_faf^e``3dSSF_FbaF Q^`3F`FUfdbF^\f^\dXf[f`fd^Y_F]]d^f`^CdXZbF^\f .e`Xf^]F^bdb^]f^_f]fF\F^fb^ae`F^[dXZbFI O<^e``e^\dXeb\e^\f^eXXf]]fdbF^\f^TFb\fae \FTF^F]]F_F^e``FVeadW^e^afad`d^\f^\FYd]fad^YF_ [eZUfdbF^F^]YF]FW^Zb^e]]FVbd^[f_[d`e_F^fbaFQ ]aead^e`^CZ_ead_F^YF_^`F^]FVZFbaf^]dXXF) Q^HA ^\F`^Y_FUUd^dSSF_ad^e^afad`d^\f^[eZUfdbFI Q^H? ^\F`^Y_FUUd^dSSF_ad^KZe`F^]dXXe^[d__fQ ]Ydb\FbaF^e``3eXXdbae_F^eYY_d]]fXeafTd^\F``F ]YF]F^\f^Y_d[F\Z_e^F^\f^TFb\fae^8a_e^[Zf^`3N5JW KZeb\d^;^\dTZae<R^@e`f^]YF]F^]dbdW^fb^Tfe^Y_FQ ]ZbafTeW^_f[dXY_F]F^bF`^TF_]eXFbad^\F`^H? W YF_aebad^]dbd^SeaaF^]e`TF^FTFbaZe`f^]Z[[F]]fTF fbaFV_eUfdbfI [<^bF`^[d_]d^\F``e^Ve_e^`e^Xf]Z_e^XfbfXe^\F`Q `3eZXFbad^\e^eYYd_ae_]f^e``F^dSSF_aF^fb^_f`eb[fd^; \FaF_Xfbeae^bF``e^]aF]]e^Xf]Z_e^Sf]]eae^YF_^f` Y_fXd^_f`eb[fd^]Z`^Y_FUUd^Oe]FI \<^f`^aF_XfbF^YF_^f`^TF_]eXFbad^8XF\febaF^e]]FQ Vbd^fbaF]aead^e``e^[Z_eaF`e<^\F`^_F]f\Zd^Y_FUUd ;^Sf]]ead^fb^Vfd_bf^-A^\e``3eVVfZ\f[eUfdbF^FW^]d`d e``3F]fad^\F``3fbaF_d^TF_]eXFbad^\F``e^]dXXeW^f` 0fZ\f[F^\F`FVead^Y_dTTF\F_M^e``3FXebeUfdbF \F`^\F[_Fad^\f^a_e]SF_fXFbadW^ef^]Fb]f^\F``3e_afQ [d`d^?:-^[R^YR^[RR Nb^[e]d^\f^fbe\FXYfXFbadW^e``d^][e\F_F^\F` aF_XfbF^\f^]F]]ebae^Vfd_bfW^`3eVVfZ\f[eae_fd^]e_M \f[Lfe_ead^\F[e\Zad^\e`^\f_faadW^[db^YF_\fae \F``e^[eZUfdbFW^]e`Te^`3FTFbaZe`F^[db\ebbe^e YeVe_F^`e^\fSSF_FbUe^\f^[Zf^e``e^]F[db\e^Ye_aF \F``3e_aR^?:7^[RYR[RI F<^bF``d^]aF]]d^aF_XfbF^F^[db^`F^XF\F]fXF^XdQ

\e`faM^\f^[Zf^e`^Y_F[F\FbaF^YZbad^\<W^`3eVVfZ\fQ [eae_fd^\dT_M^fbaFV_e_F^`e^]dXXe^Y_FTFbafTeQ XFbaF^\FYd]faeae^e^afad`d^\f^]YF]F^Y_F]ZbafTF \f^TFb\fae^Sfbd^e^_eVVfZbVF_F^f`^H? ^\F`^Y_FUUd \f^eVVfZ\f[eUfdbFW^]daad^YFbe^\f^\F[e\FbUe \e``3eVVfZ\f[eUfdbF^XF\F]fXe^ef^]Fb]f^\F`^[fQ aead^e_aR^?:7^[RYR[RR^BTF^`3fXXdOf`F^]fe^]aead^eVQ VfZ\f[ead^e^]FVZfad^\F`^]d`d^_f`eb[fd^XfbfXd dOO`fVead_fdW^`3eVVfZ\f[eae_fd^;^\f]YFb]ead^\e`Q `3dOO`fVd^\F``3fbaFV_eUfdbF^YF_^]YF]FI S<^V`f^dbF_f^Sf][e`f^\F``e^TFb\fae^8N5J^d^_FVf]a_d<^F `F^]YF]F^\f^a_e][_fUfdbF^F^\f^[eb[F``eUfdbF^\F``F Sd_Xe`faM^fYdaF[e_fF^]e_ebbd^e^[e_f[d^\F``3e[Q KZf_FbaFR^Edb^Tf^]dbd^]YF]F^bdae_f`F^d^\f^XFQ \feUfdbFI V<^f`^CZ_ead_F^Y_dTTF\F_M^e^aZaaf^V`f^e\FXYfQ XFbaf^_F`eafTf^e``e^a_e][_fUfdbF^\F`^\F[_Fad^\f a_e]SF_fXFbad^F\^e``e^[eb[F``eUfdbF^\F``F^Sd_Q Xe`faM^f][_faaF^d^a_e][_faaF^e^[e_f[d^\F``e^Yd_Q UfdbF^fXXdOf`fe_F^fb^dVVFaadR^D3F]F[ZUfdbF \F``F^Td`aZ_F^[eae]ae`f^;^_fXF]]e^fbTF[F^e``3fbfQ UfeafTe^\F``3e[KZf_FbaFI L<^V`f^eVVfZ\f[eae_f^Yda_ebbd^Z]ZS_Zf_F^\F``e [db[F]]fdbF^\f^XZaZf^eVFTd`eaf^bF``3e[[F]]d YF_^Zb^fXYd_ad^Sfbd^e``3:A ^\F`^Y_FUUd^\FV`f^fXQ XdOf`fW^YF_^[dXF^[db[d_\ead^\e`^@_fOZbe`F^[db e`[Zbf^N]afaZaf^Oeb[e_fR^=Z`^YZbad^XeVVfd_f^fbSd_Q XeUfdbf^Yd]]dbd^F]]F_F^_f[LfF]aF^Y_F]]d^`e Ceb[F``F_fe^Se``fXFbae_FI f<^ef^Ye_aF[fYebaf^e``3e]aeW^[LF^bdb^]febd^\fTFQ bZaf^eVVfZ\f[eae_fW^TF__M^_F]afaZfad^f`^\FYd]fad YF_^[eZUfdbF^F^]YF]FW^]ZOfad^\dYd^`e^FSSFaaZeQ UfdbF^\F``e^Ve_eR ;6A(*:@8>g)Ag6>44A'gE@8@(6A@ 5Fb\fae^[db^fb[ebad EcUfgXea^fZdXeaf 9dXeb\e^fb^[e_ae^`FVe`F^[db^fb\f[eUfdbF^\F` OFbFW^\F`^YFUUd^dSSF_adW^\F``e^\eae^\f^TFb\faeW^F \F``e^Y_d[F\Z_e^e^[Zf^]f^_fSF_f][F^\e^Y_F]Fbae_F Fba_d^`F^d_F^H>WAA^\F`^Vfd_bd^ebaF[F\FbaF^`e TFb\fae^8`ZbQTFb^d_F^6WAAQH>WAA<^ZbfaeXFbaF^e \ZF^`fO_Faaf^Oeb[e_f^e`^Yd_aead_F^fbaF]aeaf^e`^VfZQ \f[F^\F``3F[F[ZUfdbF^\F``3fXYd_ad^_f]YFaafTeQ XFbaF^Ye_f^e`^HA ^YF_^[eZUfdbF^F^e`^H? ^YF_ ]YF]F^_F[ebaf^f`^bZXF_d^\F``e^Y_d[F\Z_e^F^e \ZF^Xe_[LF^\f^FZ_d^HW>6^[fe][ZbeR^N`^aZaad^\e Y_F]Fbae_F^e``e^[eb[F``F_fe^F]F[ZUfdbf^fXXdOfQ `fe_f^[2d^CGR9NR1^>I^.febd^/R^EF``e^\dXeb\e `3dSSF_FbaF^\FTF^fb\f[e_F^`F^Y_dY_fF^VFbF_e`faM^f` Y_dY_fd^CR(RW^]F^fbaFb\F^eTTe`F_]f^\F``F^eVFTdQ `eUfdbf^\F``e^Y_fXe^[e]e^F^]F^[dbfZVead^F\^fb _FVfXF^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfR^9dQ T_ebbd^F]]F_F^fb\f[eaf^eb[LF^f^[d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR ._fXe^\f^Se_F^`3dSSF_ae^`FVVF_F^`e^YF_fUfe^F^`3d_\fQ bebUeR 5Fb\fae^]FbUe^fb[ebad EcUfgXea^fZdXeaf BVbZbd^;^eXXF]]d^e\^dSS_f_F^YF_^`3e[KZf]ad \F`^OFbFR D3dSSF_FbaF^\FTF^\FYd]fae_F^fb^Ceb[F``F_fe^Zbe \f[Lfe_eUfdbF^[dbaFbFbaF) Q^f`^Y_FUUd^dSSF_ad^8[LF^bdb^YZ ^F]]F_F^fbSF_fd_F e^KZF``d^]afXead^d^]Z[[F]]fTeXFbaF^_fOe]]ead \e`^0fZ\f[F<I Q^f`^aFXYd^F^Xd\d^YeVeXFbad^\F`^Y_FUUdI Q^dVbf^Z`aF_fd_F^F`FXFbad^\e^[Zf^\F]ZXF_F^`e TebaeVVfd]faM^\F``3dSSF_aeR 9FTF^\FYd]fae_FW^fbd`a_FW^`fO_Faad^Oeb[e_fd^e` Yd_aead_F^_F[ebaF^[eZUfdbFW^[LF^eXXdbaF_M^e\ Zb^\F[fXd^\F`^Y_FUUd^dSSF_adR =Z``e^Oe]F^\F``3dSSF_ae^\FYd]faeae^f`^0fZ\f[F [dbTd[LF_M^`F^Ye_af^YF_^f`^a_e]SF_fXFbad^\F` OFbFW^[db^FTFbaZe`F^Ve_e^fb^[e]e^\f^Yf&^dSSF_aFR^ Cdb\fUfdbf^\F``e^TFb\fae @Zaaf^Yd]]dbd^Ye_aF[fYe_F^e``F^TFb\faF^VfZ\fUfeQ _fF^F[[Faad^f`^\FOfad_FR BVbf^fXXdOf`F^;^]afXead^\e^Zb^YF_fad^\F`^a_fOZQ be`FR^^De^Y_dY_fFaM^;^a_e]SF_fae^\e`^0fZ\f[F^[db \F[_Fad^FXF]]d^e\^eTTFbZad^TF_]eXFbad^\F` Y_FUUd^bF`^aF_XfbF^fb\f[ead^\e``d^]aF]]dR^9f aZaaF^`F^fYdaF[LF^F\^f^YfVbd_eXFbaf^]F^F]f]aFbaf ;^d_\fbeae^`e^[eb[F``eUfdbF^F^]e_ebbd^FSSFaQ aZeaF^e^[Z_e^\F``3e[KZf_FbaF^d^\F`^C@,^[LF^Le _F\eaad^`e^[db]Z`FbUeR^ BVbf^dbF_F^Sf][e`F^\F_febaF^\e``e^TFb\fae^\e``e TFb\fae^]e_M^e^[e_f[d^\F``3eVVfZ\f[eae_fd^8]YF]F \f^_FVf]a_eUfdbF^Q^a_e][_fUfdbF^Q^Td`aZ_e^[eaeQ ]ae`F^Q^[eb[F``eUfdbF^F^a_e][_fUfdbf<R^.F_^V`f^fXQ XdOf`f^d[[ZYeaf^\e`^\FOfad_F^d^\e^aF_Uf^]FbUe afad`d^f`^0fZ\f[F^bF^d_\fbe^`3fXXF\feae^`fOF_eQ UfdbFR D3d_\fbebUe^\f^TFb\fae^F^`e^YF_fUfe^]dbd^[db]Z`Q aeOf`f^]Z`^]fad^!!!Ra_fOZbe`F_FVVfd[RbFaI^ XeVQ Vfd_f^fbSd_XeUfdbf^Y_F]]d^`3eXXfbf]a_ead_F bdXfbead^d^f`^aF[bf[d^[LF^Le^_F\eaad^`e^YF_fUfe \f^Te`ZaeUfdbFW^fb\f[eaf^bF``F^]fbVd`F^YZOO`f[eQ Ufdbf ^ `F^Y_F]Fbaf^]f^fbaFb\dbd^KZe`f^[db\fUfdbf VFbF_e`f^\f^TFb\faeR^ DF^]aF]]F^Yd]]dbd^Te_fe_F^]F[db\d^`F^fb\f[eQ Ufdbf^Sd_bfaF^\e`^0fZ\f[F^\F``3G]F[ZUfdbF^bF``F ]fbVd`F^Y_d[F\Z_FR


J55N=B^9N^0J1J^.G1^ J((N@@B^9PJ%NGE9J^G ^J1@R^HA/^Of]^DR(R +@88A%>:;'g:\gTTBWIg6\4\g 0fZ\f[F^9F`FVead)^ :77*118; 2: 8558; 2:28 CZ_ead_F^(e``fXFbae_F) JTTR^.fF_Yed`d^0_F[d N`^]daad][_faad^JTTR^.fF_Yed`d^0_F[dW^ [Z_ead_F^\F`^Se``fXFbad^fb^FYfV_eSFW .1G+G==B Q^[LF^`e^]d[fFaM^Se``fae^;^Y_dY_fFae_fe^\F`^[dXQ Y`F]]d^eUfFb\e`F^]fad^fb^C_dYebf^+e_fbe^e``e =R=R^HA-W^%dbe^.N.W^[d]afaZfad^\e^Zb^[eYebQ bdbF^fb\Z]a_fe`F^F^\ef^OFbf^XdOf`f^[dbbF]]f e``PF]F_[fUfd^ \F``PeaafTfaM^ \PfXY_F]eW^ XFV`fd F`Fb[eaf^F^\F][_faaf^bF``e^YF_fUfe^\f^]afXe^_FQ \eaae^\e`^.F_fad^0FdXR^5fb[FbUd^Ce_\eXdbF fb^\eae^H>RA>R>AHA^F^[db]Z`aeOf`F^fb^[eb[F`Q `F_feI Q^[LF^f`^[dXY`F]]d^eUfFb\e`F^;^eaaZe`XFbaF [db\daad^fb^eSSfaad^\e^e`a_e^]d[fFaM^fb^Sd_Ue^\f [dba_eaad^][e\FbaF^f`^Y_d]]fXd^4ARHHR>AH>I Q^[LF^f`^]daad][_faad^CZ_ead_F^fbaFb\F^Oeb\f_F Zbe^Ve_e^YF_^`PeVVfZ\f[eUfdbF^\F`^[dba_eaad^\f eSSfaad^ \F``PeUfFb\e^ e^ \F[d__F_F^ \e`^ Vfd_bd AHRH>R>AH>^F^YF_^`e^\Z_eae^\f^XF]f^H>W^e``F ]FVZFbaf^[db\fUfdbf^F^aF_Xfbf) B00G@@B^9GDDPJ((N@@B @Rdf`]egfYfaZf`^fg_9e^^dJd^=g]dgXac]VRdc`f fgZcUUfaZde_dRReRdc`fg]dgXe`fgfgXac]c^^d eNNd`d[g ZcY^d^Vd^eg ]eg V`g ZeXe``c`fg d`]VL Y^ade_fgfg]edgOf`dgUcOd_dgUfP_dcgf_f`Ze^dgf ]fYZad^^dg`f_gJfaOe_fg]dgd`Jf`^eadcgfg`f__e XfadRdeg]dgY^dUeg]fXcYd^e^fgd`gZe`Zf__fade\ :f__9eNNd^^cg`c`gYc`cgd`Z_VYdgdg]fOd^dgf]gd Zaf]d^dg ]f__9eRdf`]e[g fg ?Ve`^9e_^acg `c` fYXafYYeUf`^fgd`]dZe^c\ CBE9N%NBEN^9GDDPJ((N@@B L@5g +0+ \f^ XF]f^ H>^ [db^ Se[d`aM^ \F``F Ye_afW^ e``e^ ][e\FbUeW^ \f^ [dbTFbf_F^ Zbe FTFbaZe`F^ Y_d_dVe^ e``F^ [db\fUfdbf^ [LF ]e_ebbd^ _faFbZaF^ [dbV_ZF^ \eV`f^ d_Vebf Se``fXFbae_fW^F^[db^Se[d`aM^\f^_F[F]]d^YF_ `e^CZ_eaF`e^e^Ye_af_F^\e``PfbfUfd^\F`^]FaQ afXd^XF]FW^\e^[dXZbf[e_F^[db^_e[[dQ Xeb\eae^e2_W^[db^Y_FeTTf]d^\f^e`XFbd \ZF^XF]f^_f]YFaad^e``e^\eae^fb^[Zf^\dT_M F]]F_F^_f[db]FVbeae^`PeUfFb\eI L(5 +(3(,; ";+ "003;+(( +-,/ bdb fbSF_fd_F^ e\^ >Vacg TF\WWW[WW 8\f[fdaadQ Xf`e2AA<W^d`a_F^NR5RJRI LE5 3(, ";e^[e_f[d^\F``e^Ye_aF^eSSfaaZe_fe)^e[Q [Fb]fdbF^\f^Yd`fUUe^Sf\FfZ]]d_fe^[db^Y_fQ Xe_fd^f]afaZad^Oeb[e_fd^d^e]]f[Z_eafTd^e Ve_ebUfe^\F`^YZbaZe`F^F\^fbaFV_e`F^YeQ VeXFbad^\Ff^[ebdbf^\f^eSSfaadI^]afYZ`e^\f Yd`fUUe^e]]f[Z_eafTe^[db^Y_fXe_fe^[dXQ YeVbfe^dYF_ebaF^]Z`^aF__fad_fd^beUfdbe`FW e^Ve_ebUfe^\F``PFTFbaZe`F^_f]ad_d^\f^dVbf VFbF_F^\f^\ebbd^8eb[LF^\e^SZ_ad^F\^fbQ [Fb\fd<^e``PeUfFb\e^dVVFaad^\f^eSSfaadW^TeQ `f\d^YF_^aZaae^`e^\Z_eae^\F`^[dba_eaad^\f eSSfaadI^YeVeXFbad^\f^aZaaF^`F^]YF]F^F\ fXYd]aF^fbF_Fbaf^F^[db]FVZFbaf^`e^]afYZ`e \F`^[dba_eaad^\f^`d[eUfdbFW^[LF^_fTF]af_M `e^Sd_Xe^\F``Peaad^YZOO`f[d^d^\F``e^][_faQ aZ_e^Y_fTeae^eZaFbaf[eae^\e^Zb^EdaefdW^f` [Zf^bdXfbeafTd^]e_M^[dXZbf[ead^\e`^CZQ _ead_F^e``PeVVfZ\f[eae_fdI L)5g3 -" 3 \f^[Z]ad\fe^\F``PeUfFb\e^F^\Ff ]Zdf^OFbf^XdOf`f^F\^fXXdOf`f^e^[e_f[d^\F`Q `PeSSfaaZe_fdW^[dXY_F]d^`PdOO`fVd^\f^F]F[ZQ UfdbF^ \F``e^ XebZaFbUfdbF^ d_\fbe_fe^ F ]a_ed_\fbe_fe^ \Ff^ Xe[[Lfbe_f^ Se[Fbaf Ye_aF^ \F``PeUfFb\eW^ eTTe`Fb\d]f^ \f^ fXQ Y_F]F^]YF[fe`fUUeaF^\F`^]Faad_FI L>5 " ",03 \f^ ]ZOeSSfaad^ F^ \f^ [F]]fdbF^ e KZe`]fe]f^afad`d^\Ff^OFbf^dVVFaad^\F``PeSQ Sfaad^F2d^\F`^[dba_eaad^\f^eSSfaadI L+5 3 -" 3 \f^[db]Fbaf_F^e`^CZ_ead_F^F2d^e ]Zdf^\F`FVeaf^\f^e[[F\F_F^bF``PeUfFb\e^e` SfbF^ \f^ F]FVZf_F^ YF_fd\f[LF^ TF_fSf[LF ]Z``d^ ]aead^ \f^ OFbf^ XdOf`f^ F\^ fXXdOf`fW bdb[L'^e`^SfbF^\f^[db]Fbaf_bF^`e^Tf]fdbF e^YdaFbUfe`f^e[KZf_Fbaf^\F``PeUfFb\e^XFQ

* \F]fXeI^ ae`F^ \f_faad^ \F`^ CZ_ead_F^ Yda_M F]]F_F^ F]F_[faead^ Y_FTfd^ Y_FeTTf]d eb[LF^ aF`FSdbf[d^ d^ e^ XFUUd^ Se"^ \f^ e`Q XFbd^>^Vfd_bfW^]e`Tf^f^[dXY_dTeaf^[e]f^\f Z_VFbUeI L45 " ",03 YF_^`PeSSfaaZe_fd^\f^[dXYfF_F^eaaf d^eaafTfaM^aFb\Fbaf^e^_Fb\F_F^\fSSf[d`ad]e d^ ebafF[dbdXf[e^ `e^ Tf]fdbF^ \Ff^ OFbf \F``PeUfFb\e^\e^Ye_aF^\f^aF_Uf^d^e^][d_eVQ Vfe_bF^`F^fbfUfeafTFI L!5 3 -" 3 \f^_f`e][fe_F^`PeUfFb\e)^e`^aF_Q XfbF^ \F`^ [dba_eaad^ \f^ eSSfaadW^ dTTF_d^ fb [e]d^\f^F]F_[fUfd^\F`^\f_faad^\f^_F[F]]d [dXF^fbbebUf^Y_FTf]adW^`PeSSfaaZe_fd^;^aFQ bZad^e^_f[db]FVbe_F^`PeUfFb\e^F^f^OFbf [LF^ `e^ [dXYdbVdbd^ fb^ OZdbd^ ]aead^ \f [db]F_TeUfdbF^F^SZbUfdbeXFbad^]e`Td^f` \FYF_fXFbad^\Ff^OFbf^\F_fTebaF^\e``PZ]d d_\fbe_fd^F^bd_Xe`FI^bF`^[e]d^\f^_fae_\d bF``e^_F]afaZUfdbF^\Ff^OFbf^dVVFaad^\F` [dba_eaad^\f^eSSfaad^`PeSSfaaZe_fd^]e_M^aFbZad e`^YeVeXFbad^\f^Zbe^YFbe`F^[ZXZ`eOf`F [db^f`^[ebdbF^XFb]f`F^\f^eSSfaad^Ye_f^e\ GZ_d^ H?AWAA^ 8[Fbad[fbKZebae2AA<^ YF_ dVbf^Vfd_bd^\f^_fae_\dI LA5 3 +-"0+ ; "; # , ,(0+ "3(, ,-- 3 , 0+ DPdSSF_ae^fbaF]aeae^e^$CZ_eaF`e^\F`^(e``fQ XFbad^bR^HH2A6^1R0R^@_fOR^CeaebUe_d#W \dT_M^YF_TFbf_F^fb^OZ]ae^[LfZ]e^Fba_d^F bdb^d`a_F^`F^cafgTS[WWg]dgPdcJf] gSSg`cL JfUOafgSWTS Y_F]]d^`d^]aZ\fd^\F`^CZ_eQ ad_F^JTTR^.fF_Yed`d^0_F[dW^fb^CeaebUe_d e``e^5fe^=Ye]e_f^bR^4W^F^\dT_M^[dbaFbF_FW e^YFbe^\f^F][`Z]fdbF^\e``e^Ve_e)^ e5gcNNfa^egdaafJcZeOd_fg]dgeNNd^^cgXfag_e ]Vae^eg]dgTSgUfYd[gZc`^f`f`^fg_9d`]dL ZeRdc`fg]e_gZe`c`fge``Ve_f[gZ3fg`c` Xc^a=gfYYfafgd`Nfadcafge_gUd`dUcgd`]dL Ze^cg ]dg >Vacg TF\WWW[WWg 2]dZdc^^cL Ud_eBWW5gc_^afgA$@g[db^\f[Lfe_eUfdbF^\f \f]YdbfOf`faM^e^]afYZ`e_F^f`^[dba_eaad^Fba_d F^bdb^d`a_F^VVR^H?^\e``e^[dXZbf[eUfdbF \e^ Ye_aF^ \F`^ CZ_ead_F^ \F``PeVVfZ\f[eQ UfdbF^\F``e^Ve_eI `PdSSF_ae^\dT_M^F]]F_F^[d__F\eae^\e^Zbe [eZUfdbF^ e^ XFUUd^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e)^(e``fXFbad^bR HH2A6^ @_fOZbe`F^ \f^ CeaebUe_dW^ Ye_f^ e\ >Vacg K\MWW[WW 8KZeaa_dXf`e[fbKZFQ [Fbad2AA<R^ O5 fb\f[eUfdbF^\FV`f^f]afaZaf^Oeb[e_f^F2d e]]f[Z_eafTf^\f]YdbfOf`f^e\^e[[Fb\F_F^`F Yd`fUUF^Sf\FfZ]]d_fF^F2d^e]]f[Z_eafTF^Y_FQ Tf]aF^e`^YZbad^C^[LF^Y_F[F\FI^ Z5 fb\f[eUfdbF^ \F`^ [dVbdXFW^ bdXFW `ZdVd^F^\eae^\f^be][faeW^_eVfdbF^]d[fe`FW [d\f[F^ Sf][e`F2Ye_afae^ N5JW^ \dXf[f`fdW ]aead^[fTf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVQ VFaad^d^\F`^`FVe`F^_eYY_F]FbaebaF^\F``e ]d[fFaM^[Zf^eb\_M^fbaF]aead^f`^[dba_eaadI^ ]5g \f[Lfe_eUfdbF^ \f^ OFb^ [dbd][F_F `PeUfFb\e^\e^eSSfaae_FW^[dXF^XFV`fd^\FQ ][_faae^bF``e^YF_fUfe^\f^]afXe^\F``PeSSfaadW^F \f^eTF_^eaaFbaeXFbaF^Tf]fdbead^aZaaF^`F [db\fUfdbf^fb\f[eaF^bF`^Y_F]FbaF^Oeb\d \f^Ve_e^F^\f^bdb^eTF_^bZ``e^\e^d]]F_Te_FI^ f5 [dYfe^\f^Zb^\d[ZXFbad^\f^f\FbafaM^fb [d_]d^\f^Te`f\faM^YF_^`F^YF_]dbF^Sf]f[LFI fb^e`aF_beafTeW^YF_^`F^YF_]dbF^VfZ_f\f[LFW Tf]Z_e^d^[F_afSf[eUfdbF^[eXF_e`F^[db^`F VFbF_e`faM^\F`^`FVe`F^_eYY_F]FbaebaF^F Sdad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F` `FVe`F^_eYY_F]FbaebaFR J55G1@GE%G c 0`f^d_Vebf^\F``e^Y_d[F\Z_e^Te`ZaF_ebbd fb^aFXYf^_eYf\fW^e^Ye_af_F^\e``e^\eae^Z`Q afXe^ [db[F]]e^ YF_^ `e^ Y_F]FbaeUfdbF \F``F^OZ]aFW^`e^[dbTFbfFbUe^\F``F^dSSF_aF YF_TFbZaFW^]Z``e^][d_ae^\Ff^[_faF_f^fb\f[eaf \e``Pe_aR^HA/^Of]^DR(e``RW^_f]F_Teb\d]f^\f fb\f_F^FTFbaZe`F^e`a_e^Y_d[F\Z_e^[dXYFQ afafTe^a_e^V`f^dSSF_FbafR^ c EF``3fYdaF]f^fb^[Zf^YF_TFbVebd^dSSF_aF^fbQ SF_fd_f^e`^Te`d_F^\f^]afXe^Sf]]ead^YF_^f`^[eQ bdbF^ XFb]f`F^ `e^ Y_d[F\Z_e^ ]f^ _f]F_Te e`a_F] ^\f^Te`Zae_FW^e^]Zd^fb]fb\e[eOf`F VfZ\fUfdW^FTFbaZe`f^dSSF_aF^\f^[dbaFbZad \fSSd_XF^_f]YFaad^e^KZebad^\f]Yd]ad^bF``e Y_F]FbaF^]d``F[faeUfdbFR^ c N`^Y_F]FbaF^eTTf]d^F^`e^_f[FUfdbF^\F``F FTFbaZe`f^dSSF_aF^bdb^[dXYd_aebd^YF_^`e Y_d[F\Z_e^e`[Zb^dOO`fVd^\f^]afYZ`e^\F`Q `3eaad^bFf^[dbS_dbaf^\FV`f^FTFbaZe`f^dSSFQ _Fbaf^ F^ YF_^ [d]ad_d^ e`[Zb^ \f_faadW [d]afaZFb\d^f`^Y_F]FbaF^eTTf]d^Zb^XF_d fbTfad^e\^dSS_f_F^F^bdb^dSSF_ae^e`^YZOO`f[d F"^e_aR^H44-^CRCR EB1+J@N5J^J..DNCJ*NDG c .F_^ aZaad^ KZebad^ bdb^ F]Y_F]]eXFbaF \f][fY`fbead^\e`^[dba_eaad^\f^eSSfaadW^]f^eYQ Y`f[LF_ebbd^ `F^ \f]Yd]fUfdbf^ [dbaFbZaF bF``Pe_aR^HA/^Of]^DR(RW^bdb[L'^bF`^Cd\f[F CfTf`FR^ c De^TF_]fdbF^fbaFV_e`F^\F`^Y_F]FbaF^eTQ Tf]dW^ZbfaeXFbaF^e``e^_F`eUfdbF^\f^]afXeW e``PfbTFbae_fd^\Ff^OFbf^XdOf`f^F\^e``F^TfQ

]Z_F^[eae]ae`f^\FV`f^fXXdOf`fW^[db^f`^_F`eQ afTd^[d__F\d^SdadV_eSf[dW^]dbd^YZOO`f[eaf ]Z`^]fad^fbaF_bFa^!!!Re]aFebbZb[fRfaR c .F_^dVbf^Z`aF_fd_F^fbSd_XeUfdbF^V`f^fbaFQ _F]]eaf^Yda_ebbd^_fTd`VF_]f^e`^CZ_ead_F (e``fXFbae_F^JTTR^.fF_Yed`d^0_F[dW^[db ]aZ\fd^fb^CeaebUe_d^e``e^5fe^=Ye]e_f^bR 4W^ aF`R^ F^ Se"^ A6-H76>-HAW^ [F``R 4/7??4/:?6W^ FXef`) YfF_Yed`dRV_F[d eTTd[eaf[eaebUe_dR`FQ Ve`Xef`RfaR c CeaebUe_d^>ARHAR>AH> CCCCC ND^0N,9NCG^9GDDPG=GC,%NBEG N`^=fVR^0RGR bF``e^^XacZf]Vaeg`\gQTKBIMg6\4\>\g Le^\f]Yd]ad^Y_F[F\F_]f^e``e^TFb\fae^]FbUe^fbQ [ebad^\F``PfbaF_d^SeOO_f[ead^]fad^fb^0e]YF_fbeW [dba_e\e^.f`fbVe^]Z\\fTf]d^bFf^]FVZFbaf^`daaf eTFbaf^[fe][Zbd^YF_afbFbUF^fb^[dXZbF^8^(R^>HW .R``eW^]ZO^H^F^><) -:77:;5*; / %ePeRRd`cg2g+\gST[gXea^\gKIS[gYVO Q5gg>VacgTF\MHS[MWg -:77:;5*; / %ePeRRd`cg2g+\gST[gXea^\gKIS[gYVO K5gg>VacgTF\MHS[MW -:77:; 5*; /; @XXea^eUf`^cg Ag Xde`cg 2g +\g ST[ Xea^\gKIS[gYVOgM5g>VacgQI\IQG[MW -:77:;5*; / @XXea^eUf`^cgAAgXde`cg2g+\gST[ Xea^\gKIS[gYVOgH5g>VacgSW\SMW[WW -:77:;5*; / @XXea^eUf`^cgAAgXde`cg2g+\gST[ Xea^\gKIS[gYVOgG5g>VacgSW\SMW[WW -:77:;5*; / @XXea^eUf`^cgAAgXde`cg2g+\gST[ Xea^\gKIS[gYVOgF5g>VacgSW\SMW[WW c 0`f^fXXdOf`fW^TFb\Zaf^bF``d^]aead^\f^Seaad F^\f^\f_faafW^fb^[Zf^]f^a_dTebdW]dbd^XFV`fd \F][_faaf^bF``e^_F`eUfdbF^\f^]afXe^[db]Z`Q aeOf`F^fb^Ceb[F``F_feR^ b 89V]df`Reg]dgJf`]d^egf"gea^\gMGSgZ\X\Z -gNdYYe^egXfagd_gPdca`cgTHBWTBSWTQ\ c EF``e^ XF\F]fXe^ \eae^ ;^ Sf]]eae `PZ\fFbUe^ F"^ e_aR^ ?-6^ [RYR[^ Wfb^ [e]d^ \f Xeb[ebUe^\f^dSSF_aFR c BVbf^ dSSF_FbaFW^ YF_^ F]]F_F^ eXXF]]d e``e^TFb\faeW^\dT_M^\FYd]fae_F^fb^CebQ [F``F_fe^Fba_d^`F^d_F^H>^\F`^Vfd_bd^Y_F[FQ \FbaF^ `PZ\fFbUe^ Sf]]eaeW^ Zbe^ OZ]ae ]fVf``eae^_F[ebaFW^`e^\eae^\F``e^TFb\fae^F f`^ bdXF^ \F`^ 0fZ\f[F^ F^ [dbaFbFbaF^ \dQ Xeb\e^ \f^ Ye_aF[fYeUfdbF^ 8]F[db\d^ `d ]aeXYead^Sd_bfad^\e``e^]aF]]e^Ceb[F``FQ _fe<^ fb^ Od``dW^ Sdad[dYfe^ \F`^ \d[ZXFbad \Pf\FbafaM^bdb[L'^Zb^J==G0EB^Cf_[dQ `e_F^$Edb^@_e]SF_fOf`F#^fbaF]aead^e^$^CebQ [F``F_fe^@_fOZbe`F^\f^CeaebUe_d^Y_d[Rb ^ \PfXYd_ad^ ^ Ye_f^ e`^ HA ^ \F`^ Y_FUUd Oe]F^d^\F`^Y_FUUd^dSSF_ad^Q^e^afad`d^\f^\FQ Yd]fad^^[eZUfdbe`FR c DPdSSF_FbaFW^ \FYd]faeb\d^ dSSF_aeW^ \fQ [Lfe_e^\f^[dbd][F_F^`d^]aead^\F``PfXXdQ Of`FR^ Nb^ [e]d^ \f^ Ve_e^ a_e^ Yf&^ dSSF_FbafW ) 8'&957:;&252&:;;^Sf]]ead^fb^^<ggMWW[WW\ c DPeVVfZ\f[eae_fdW\dT_M^TF_]e_F^f`^Y_FUUd \Pe[KZf]adW^\F\daae^`e^VfM^TF_]eae^[eZQ UfdbFW^Fba_d^f`^aF_XfbF^\f^]F]]ebae^Vfd_bf \e``e^\eae^\f^eVVfZ\f[eUfdbFR^DF^]YF]F \f^a_e]SF_fXFbad^_F]aebd^e^[e_f[d^\F``e Y_d[F\Z_e^F]F[ZafTe^ CeaebUe_dW^ CCCCC .1N+J^=G%NBEG^CN5NDG N`^0fZ\f[F^\F`` G]F[ZUfdbFW^ !6*118; 2: 8558; 2:28 ; e``PZ\fFbUe^\F`^>ARA-R>AH>^Le^Y_dbZb[fead `e^]FVZFbaF B19NEJE%J EF`^XacZf]dUf`^cg`\gGKBWGg6\4\>\ YFb\FbaF^a_e *JECJ^CJ1N+G^ G^B+N==N= 5f]af^V`f^eaafW 9N=.BEG ._d[F\F_]f^ e``e^ TFb\fae^ ]FbUe^ fb[ebad^ \Ff OFbf^]FVZFbaf) -:77:; / ;faaf`cgd`g(c^adZf__cg]dgU?gSWGW YVgZVdgd`YdY^fgV`gNeOOadZe^cgd`gZe^eY^c e_gNcP_dcgHgX\__egSMWIDg # , 3/ >VacgQQ\HQG[MWg c 0`f^fXXdOf`fW^TFb\Zaf^bF``d^]aead^\f^Seaad F^\f^\f_faad^fb^[Zf^]f^a_dTebdW^]dbd^XFV`fd \F][_faaf^bF``e^_F`eUfdbF^\f^]afXe^[db]Z`Q aeOf`F^bF``e^Ceb[F``F_fe^\f^KZF]ad^@_fOZQ be`FR^ c D dSSF_FbaFW^ \FYd]faeb\d^ dSSF_aeW^ \fQ [Lfe_e^\f^[dbd][F_F^`d^]aead^\F`` fXXdQ Of`FR^BVbf^dSSF_FbaF^\dT_M^\FYd]fae_F^fb Ceb[F``F_fe^`e^Y_dY_fe^dSSF_ae^^fb^OZ]ae [LfZ]e^ZbfaeXFbaF^e\^Zb^e]]FVbd^[f_[dQ `e_F^fbaF]aead^e`^@_fOZbe`F^\f^CeaebUe_d Y_d[R^bR^7/2A7^^_F[ebaF^Zb^fXYd_ad^Ye_f e`^HA ^\F`^Y_FUUd^Y_dYd]ad^e^afad`d^\f [eZUfdbFW f`^acg_fgcafgTSg]f_gPdca`c TM\WT\SWTQ[gYc`cgegZeadZcg]f_gXacZfL ]dUf`^cg_fgYXfYfg]dg^aeYNfadUf`^c\

b 8 V]df`RegXfag_eg]f_dOfaeRdc`fgYV__f cNNfa^fgf"gea^\gMGSgZ\X\ZgfgXfag_ fJf`L ^Ve_fgPeaeg^aegP_dgcNNfaf`^dgf"gea^\gMGQ Z\X\Zg-gNdYYe^egd`g]e^egTH\WT\SWTQ\ c JZXFbad^XfbfXd^fb^[e]d^\f^Ve_e^FZ_d >AAAWAA c D eVVfZ\f[eae_fdW^ \dT_M^ TF_]e_F^ f` Y_FUUd^\f^e[KZf]adW^\F\daae^`e^VfM^TF_Q ]eae^[eZUfdbFW^Fba_d^f`^aF_XfbF^\f^Vfd_bf ]F]]ebae^\e``e^\eae^\f^eVVfZ\f[eUfdbF^fb [eb[F``F_feR c 9f]YdbF^ [LF^ `e^ Y_F]FbaF^ d_\fbebUe TFbVe^YZOO`f[eae^YF_^F]a_eaadW^d`a_F^[LF bF``F^ Sd_XF^ \f^ `FVVFW^ XF\febaF^ fb]F_Q UfdbF^]Z`^KZdaf\febd^$N`^9dXebf#W^bF``e _fTf]ae^J]aF^F^]Z`^]fad^fbaF_bFa^!!!RFZQ VFbfZ]Rfa^e`XFbd^/?^Vfd_bf^Y_fXe^\F`^aF_Q XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aFR c +eb\e^e``e^Ceb[F``F_fe^YF_^KZebad^\f [dXYFaFbUeR CeaebUe_dW^>ARA-R>AH>R^ A_g4dV]dZf :77*118; 2: 8558; 2:28 CCCCC 0acZf]VaegfYfZV^dJeg`\gSQSBWIg6[4[>YXa\ N`^0fZ\f[F^\F``PF]F[ZUfdbFW^ !:77*118; 2: 8558; 2:28 e^][fdV`fXFbad^\F``e^_f]F_Te^e]]ZbaeI 9f]YdbF^`e^TFb\fae^]FbUe^fb[ebad^\F`^[dXQ YFb\fd^YfVbd_ead^\f^]FVZfad^\F][_faad) ):77:; /;?Vc^egTBSg]dgV`d^=gdUUcOd_deafgd` f]dNdZdg XcY^cg e_g Xde`cg ^faaeg d`g 1e` +_cacg2E&5[gJdegA$g:cJfUOafgY`Z[gd` Ze^eY^cge_gNP\gTSgXea^\gGGWgYVOgT[ge_g 6944:;.819;\f^<\gTWW\GQH[WWD ):77:; / ?Vc^egTBSg]dgV`d^=gdUUcOd_deafgd` f]dNdZdc[gXcY^cge_gXde`cgXadUcgd`g1e` +_cacg2E&5[gJdegA$g:cJfUOafgY`Z[gd` Ze^eY^cge_gNP\gTSgXea^\gGGWgYVOgS[ge_g 6944:;.819;\f^<\gTTM\SII[WWD b NdYYegXfag_egXafYf`^eRdc`fg]f__fgcNL Nfa^fg ]9eZ?VdY^cg d_g ^faUd`fg ]f_ SI\WT\SWTQgcafgTS[WWD c Sf]]e^YF_^`e^\F`fOF_eUfdbF^]Z``PdSSF_ae^F YF_^`PFTFbaZe`F^Ve_e^a_e^V`f^dSSF_FbafW^[db 628)4:; &252&: bdb^ fbSF_fd_F^ e^ <\ T\WWW[WWW^`PZ\fFbUe^\F`^QW\WT\SWTQgcaf I[QWD c \f]YdbF^[LF^`F^dSSF_aF^\Pe[KZf]ad^]febd Y_F]FbaeaF^fb^OZ]ae^[LfZ]e^ZbfaeXFbaF e\^Zb^e]]FVbd^[f_[d`e_F^fbaF]aead^$@_fQ OZbe`F^ \f^ CeaebUe_d^ ^ Y_d[F\Z_e^ bR >4>2A6#^Yd_aebaF^Zbe^]dXXe^Ye_f^e`^\FQ [fXd^\F`^Y_FUUd^Y_dYd]adW^\e^fXYZae_F e^[eZUfdbFI c DPfXXdOf`FW^XFV`fd^\F][_faad^bF``e^_F`eQ UfdbF^aF[bf[e^[db]Z`aeOf`F^fb^[eb[F``F_feW ]e_M^TFb\Zad^bF``d^]aead^\f^Seaad^F^\f_faad fb^ [Zf^ ]f^ a_dTeW^ [LF^ ]f^ fbaFb\F_M^ [dbdQ ][fZad^\e``PeVVfZ\f[eae_fdW^eb[LF^[db^_fQ SF_fXFbad^e``e^]faZeUfdbF^\f^[dbSd_XfaM \FV`f^fXYfebaf^F^e``e^]faZeUfdbF^FbF_VFQ af[eI c DPeVVfZ\f[eae_fd^\dT_M^TF_]e_F^f`^Y_FUUd \Pe[KZf]adW^\F\daae^`e^[eZUfdbFW^Fba_d^f` aF_XfbF^ YF_Fbad_fd^ \f^ ]F]]ebae^ Vfd_bf \e``PeVVfZ\f[eUfdbFI c DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ ]e_ebbd^ e [e_f[d^\F``e^Y_d[F\Z_eI c 9f]YdbF^ [LF^ f`^ [_F\fad_F^ Y_d[F\FbaF Y_dTTF\eW^Fba_d^f`^aF_XfbF^\f^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe^\F` aF_XfbF^ Sf]]ead^ YF_^ `e^ Y_F]FbaeUfdbF \F``F^dSSF_aFW^e``e^bdafSf[e^\F``e^Y_F]FbaF d_\fbebUe^ef^[_F\fad_f^\f^[Zf^e``Pe_aR^/6: [RYR[R^bdb^[dXYe_]f^bdb[L'^e``e^YZOO`fQ [eUfdbF^\F``e^]aF]]e^F^\F``e^_F`eUfdbF^\f ]afXe^XF\febaF^fb]F_fXFbad^bF`^]fad^fbQ aF_bFa^ $!!!Re]aFRFZVFbfZ]Rfa#^ F^ \fSSZQ ]fdbF^ ]Z`^ KZdaf\febd^ $N`^ 9dXebf#W^ [db eTTF_afXFbad^[LF^fb^fYdaF]f^\f^Xeb[ead e\FXYfXFbad^\F``F^Sd_Xe`faM^YZOO`f[faeQ _fF^`e^Y_d[F\Z_e^]e_M^\f[Lfe_eae^fXY_dQ [F\fOf`F^YF_^\fSFaad^\f^fbaF_F]]F^e\^eVf_F fb^F"F[ZafTf]R c +eb\e^ e``e^ [eb[F``F_fe^ \f^ Y_dTTF\F_F e``PeTTf]d^Y_FTf]ad^\eV`f^e_aaR^/6A^F^?7A [RYR[RR c 9f]YdbF^ [LF^ bF``F^ ]Z\\FaaF^ Sd_XF^ \f YZOO`f[faM^ ]febd^ dXF]]f^ `Pfb\f[eUfdbF \F``F^ VFbF_e`faM^ \Ff^ \FOfad_f^ F^ \f^ dVbf


e`a_d^\ead^YF_]dbe`F^f\dbFd^e^_fTF`e_F `Pf\FbafaM^\F`^XF\F]fXd^dTTF_d^\f^]dVQ VFaaf^aF_Uf^F]a_ebFf^e``e^Y_d[F\Z_eR =f^[dXZbf[LfR A_g4dV]dZf CCCCC J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^ =N^1GE9G^EB@B CLF^f`^0fZ\f[FW^ ]c^^\YYeg4dcJe``eg4dcde[g bF``e^XacZf]VaegfYfZV^dJeg `\TTWBWGg6\4\g>YXa\[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >:RA-R>AH>W^Le^\f]Yd]ad^`e^TFb\fae^]FbUe^fbQ [ebad^\F`^[dXYFb\fd^YfVbd_ead^\f^]FVZfad^\FQ ][_faad)^ ):77:; /;/eXXea^eUf`^cgYd^cgd`gE3deaeJe__f Ef`^ae_fg2E&5[gJdeg1^eP_de` g`\TK[gd` Ze^eY^cge_gNP\KWg[X\__egHHgYVO\gTWge_ 6944:;.819 \f^<gTTS\KTF[SMD b -gNdYYe^cgXfag_egXafYf`^eRdc`fg]f__f cNNfa^fg ]9eZ?VdY^cg d_g ^faUd`fg ]f_ TM\WT\SWTQgcafgTS[WWD b -gNdYYe^egXfag_eg]f_dOfaeRdc`fgYV__9cNL Nfa^egfgXfag_9fJf`^Ve_fgPeaeg^aegP_dgcNL Nfaf`^dW^[db 628)4:;&252&: bdb^fbSF_fd_F e^<gQ\WWW[WW[g_9V]df`Reg]f_gTH\WT\SWTQ cafgI[WWD c ;^ \f]Yd]ad^ [LF^ `F^ dSSF_aF^ \Pe[KZf]ad ]febd^Y_F]FbaeaF^fb^OZ]ae^[LfZ]e^ZbfaeQ XFbaF^e\^Zb^e]]FVbd^[f_[d`e_F^fbaF]aead $@_fOZbe`F^ \f^ CeaebUe_dQ^ ._d[F\Z_e bRHHA2A7#^Yd_aebaF^Zbe^]dXXe^Ye_f^e` \F[fXd^\F`^Y_FUUd^Y_dYd]adW^\e^fXYZQ ae_F^e^[eZUfdbFI c DPfXXdOf`FW^XFV`fd^\F][_faad^bF``e^_F`eQ UfdbF^aF[bf[e^[db]Z`aeOf`F^fb^[eb[F``F_feW ]e_M^TFb\Zad^bF``d^]aead^\f^Seaad^F^\f_faad fb^ [Zf^ ]f^ a_dTeW^ [LF^ ]f^ fbaFb\F_M^ [dbdQ ][fZad^\e``PeVVfZ\f[eae_fdW^eb[LF^[db^_fQ SF_fXFbad^e``e^]faZeUfdbF^\f^[dbSd_XfaM \FV`f^fXYfebaf^F^e``e^]faZeUfdbF^FbF_VFQ af[eI c DPeVVfZ\f[eae_fd^\dT_M^TF_]e_F^f`^Y_FUUd \Pe[KZf]adW^\F\daae^`e^[eZUfdbFW^Fba_d^f` aF_XfbF^ YF_Fbad_fd^ \f^ ]F]]ebae^ Vfd_bf \e``PeVVfZ\f[eUfdbFI c DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ ]e_ebbd^ e [e_f[d^\F``e^Y_d[F\Z_e^F]F[ZafTeI c 9f]YdbF^ [LF^ f`^ [_F\fad_F^ Y_d[F\FbaF Y_dTTF\eW^Fba_d^f`^aF_XfbF^\f^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe^\F` aF_XfbF^ Sf]]ead^ YF_^ `e^ Y_F]FbaeUfdbF \F``F^dSSF_aFW^e``e^bdafSf[e^\F``e^Y_F]FbaF d_\fbebUe^ef^[_F\fad_f^\f^[Zf^e``Pe_aR^/6: [RYR[R^bdb^[dXYe_]f^bdb[L'^e``e^YZOO`fQ [eUfdbF^\F``e^]aF]]e^F^\F``e^_F`eUfdbF^\f ]afXe^XF\febaF^fb]F_fXFbad^bF`^]fad^fbQ aF_bFa^ $!!!Re]aFRFZVFbfZ]Rfa#^ F^ \fSSZQ ]fdbF^ ]Z`^ KZdaf\febd^ $N`^ 9dXebf#W^ [db eTTF_afXFbad^[LF^fb^fYdaF]f^\f^Xeb[ead e\FXYfXFbad^\F``F^Sd_Xe`faM^YZOO`f[faeQ _fF^`e^Y_d[F\Z_e^]e_M^\f[Lfe_eae^fXY_dQ [F\fOf`F^YF_^\fSFaad^\f^fbaF_F]]F^e\^eVf_F fb^F"F[ZafTf]R c +eb\e^ e``e^ [eb[F``F_fe^ \f^ Y_dTTF\F_F e``PeTTf]d^Y_FTf]ad^\eV`f^e_aaR^/6A^F^?7A [RYR[R c 9f]YdbF^ [LF^ bF``F^ ]Z\\FaaF^ Sd_XF^ \f YZOO`f[faM^ ]febd^ dXF]]f^ `Pfb\f[eUfdbF \F``F^ VFbF_e`faM^ \F`^ \FOfad_F^ F^ \f^ dVbf e`a_d^\ead^YF_]dbe`F^f\dbFd^e^_fTF`e_F `Pf\FbafaM^\F`^XF\F]fXd^dTTF_d^\f^]dVQ VFaaf^aF_Uf^F]a_ebFf^e``e^Y_d[F\Z_eR c =f^[dXZbf[LfR CeaebUe_dW^H/RHHR>AH> A8g+*:&A':@6A'g4A*)A&A@6A' *7:; :77*; 8) 87:69;+29)): CCCCC ._fXe^=FUfdbF^CfTf`F 0acZf]VaegfYfZV^dJegg`\gTTBWMg6\4\>Y\ N`^0fZ\f[F^\F``PG]F[ZUfdbFW !:77*118; :5 ; 8&2852 Tf]ae^ `e^ _f[LfF]ae^ \f^ TFb\fae^ e``PZ\fFbUe^ \F` H72HA2>AH>W \f]YdbF^`e^TFb\fae^[db^fb[ebad^\F`^[dXYFbQ \fd^YfVbd_ead^\f^]FVZfad^\F][_faad) -:77:; / $d__egYd^egd`gEe^e`Reacg$deg1c_NfL ad`cgSHgd]f`^dNdZe^egd`gZe^eY^cge_gNPgFQ UeXX\gSQSgYVO\gS[Q[K[M[ge_ 6944: \f^<gTFG\FMI[FIDg b NdYYegXfag_egXafYf`^eRdc`fg]f__fgcNL Nfa^fg ]9eZ?VdY^cg d_g ^faUd`fg ]f_ WM\WS\SWTQgcafgTS\WWD b NdYYegXfag_eg]f_dOfaeRdc`fgYV__9cNNfa^e fgXfag_9fJf`^Ve_fgPeaeg^aegP_dgcNNfaf`^d[ Zc`gade_RcgUd`dUcg`c`gd`Nfadcafgeg< M\WWW[WW[g_9V]df`Reg]f_gWH\WS\SWTQgcaf I[QWD c \f]YdbF^[LF^`F^dSSF_aF^\Pe[KZf]ad^]febd Y_F]FbaeaF^fb^OZ]ae^[LfZ]e^ZbfaeXFbaF e\^Zb^e]]FVbd^[f_[d`e_F^fbaF]aead^$@_fQ

( OZbe`F^ \f^ CeaebUe_d^ Q^ ._d[F\Z_e^ bR HH2A?#^Yd_aebaF^Zbe^]dXXe^Ye_f^e`^\FQ [fXd^\F`^Y_FUUd^Y_dYd]adW^\e^fXYZae_F e^[eZUfdbFI c DPfXXdOf`FW^XFV`fd^\F][_faad^bF``e^_F`eQ UfdbF^aF[bf[e^[db]Z`aeOf`F^fb^[eb[F``F_feW ]e_M^TFb\Zad^bF``d^]aead^\f^Seaad^F^\f_faad fb^ [Zf^ ]f^ a_dTeW^ [LF^ ]f^ fbaFb\F_M^ [dbdQ ][fZad^\e``PeVVfZ\f[eae_fdI c DPeVVfZ\f[eae_fd^\dT_M^TF_]e_F^f`^Y_FUUd \Pe[KZf]adW^\F\daae^`e^[eZUfdbFW^Fba_d^f` aF_XfbF^ YF_Fbad_fd^ \f^ ]F]]ebae^ Vfd_bf \e``PeVVfZ\f[eUfdbFI c DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ ]e_ebbd^ e [e_f[d^\F``e^Y_d[F\Z_e^F]F[ZafTeI c 9f]YdbF^[LF^f`^[_F\fad_F^dbF_ead^\FV`f e\FXYfXFbaf^ YZOO`f[fae_f^ Y_dTTF\eW Fba_d^f`^aF_XfbF^\f^KZe_ebae[fbKZF^Vfd_bf Y_fXe^ \F``e^ ][e\FbUe^ \F`^ aF_XfbF^ Sf]Q ]ead^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aFW e``e^bdafSf[e^\F``e^Y_F]FbaF^d_\fbebUe^ef [_F\fad_f^ \f^ [Zf^ e``Pe_aR^ /6:^ [RYR[R^ bdb [dXYe_]f^ bdb[L'^ e``e^ YZOO`f[eUfdbF \F``e^]aF]]e^F^\F``e^_F`eUfdbF^\f^]afXe XF\febaF^fb]F_fXFbad^bF`^]fad^fbaF_bFa !!!Re]aFRFZVFbfZ]Rfa^ F^ \fSSZ]fdbF^ ]Z` KZdaf\febd^$N`^\dXebf#R CeaebUe_dW^H72HA2>AH> A_g4dV]dZf

aF_XfbF^ Sf]]ead^ YF_^ `e^ Y_F]FbaeUfdbF \F``F^dSSF_aF^\Pe[KZf]adR c =f^\f]YdbF^e`a_F] ^[LF^`Pd_\fbebUe^F^`e YF_fUfe^TFbVebd^YZOO`f[eaF^Fba_d^f`^aF_Q XfbF^]Z\\FaadW^d`a_F^[LF^bF``F^Sd_XF^\f `FVVFW^eb[LF^]Z^._dVFaad^J]aF^+F\feQ aeVR CeaebUe_dW^4^daadO_F^>AH>R A_gEe`Zf__dfaf A_g4dV]dZf

CCCCC Ceb[F``F_fe^G]F[ZUfdbf^NXXdOf`fe_f N`^0fZ\f[F^\F``PF]F[ZUfdbFW^ :77*118; *; 8&2852 bF``e^XacZf]VaegfYfZV^dJeg`\gTSQBWIga\P\f\g Le^\f]Yd]ad^Y_d[F\F_]f^e``e^TFb\fae^]FbUe^fbQ [ebad^\Ff^]FVZFbaf^OFbf) ):77:; /;..0df`egXacXadf^=gXfag_eg?Vc^eg]dg ]fdg^faaf`dg`f_gEcUV`fg]dg@Ue^cg2E&5 d`gEe^eY^cge_gNcP_dcgTW[gXea^\gSGH[gSGI[ SFW.Dg`V]egXacXadf^=gXfag_eg?Vc^eg]d g]fdg^faaf`dg`f_gEcUV`fg]dg@Ue^cgd` Ee^eY^c[gNcP_dcgTW[gXea^\gTIQgfgMGI[gNP\ TSgXea^\gTT[gSW[gSS[gQSgfgSKH. 6944:;.819;! 8178 fVacgS\HGT[FGg ):77:; / .0df`egXacXadf^=gXfag_eg?Vc^eg]dgTBT ]f__9eXXea^eUf`^cg `f_g ZcUV`fg ]d @Ue^cg2E&5[g$deg@\g%eVac[gd`gEe^eY^c e_gNP\TT[gXea^\gTWS[gYVO\gTTWT[gZe^\g@BK[ Z_eYYfgT[gZc`Y\gJe`dgF. 6944:;.819;! 8178 fVacgSM\QFW[WW c 0`f^fXXdOf`fW^TFb\Zaf^bF``d^]aead^\f^Seaad F^\f^\f_faad^fb^[Zf^]f^a_dTebdW^]dbd^XFV`fd \F][_faaf^bF``e^_F`eUfdbF^\f^]afXe^[db]Z`Q aeOf`F^fb^Ceb[F``F_feR b 89V]df`Reg]dgJf`]d^egf"gea^\gMGSgZ\X\Z\ -g NdYYe^eg Xfag d_g Pdca`cg SQg Pf``edc SWTQ[gcafgI\QW\ c EF``e^ XF\F]fXe^ \eae^ ;^ Sf]]eae `PZ\fFbUe^F"^e_aR^?-6^[RYR[RW^fb^[e]d^\f Xeb[ebUe^\f^dSSF_aF^\f^e[KZf]adR c BVbf^ dSSF_FbaF^ YF_^ F]]F_F^ eXXF]]d e``e^TFb\fae^\dT_M^\FYd]fae_F^fb^Ceb[F`Q `F_feW^Fba_d^`F^d_F^H>RAA^\F`^Vfd_bd^ebaFQ [F\FbaF^`e^TFb\faeW^Zbe^OZ]ae^]fVf``eae _F[ebaF^`e^\eae^\F``e^TFb\fae^F\^f`^bdXF \F`^0fZ\f[F^F^[dbaFbFbaF^\dXeb\e^\f Ye_aF[fYeUfdbF^ 8]F[db\d^ `d^ ]aeXYead Sd_bfad^\e``e^]aF]]e^Ceb[F``F_fe<^fb^Od``dW Sdad[dYfe^\F`^\d[ZXFbad^\Pf\FbafaMW^bdbQ [L'^Zb^J]]FVbd^Cf_[d`e_F^$Edb^a_e]SFQ _fOf`F#^ fbaF]aead^ e^ $@_fOZbe`F^ \f CeaebUe_d^Y_d[R^bR^ #^\f^Zb^fXYd_ad^Ye_f e`^HA ^\F`^Y_FUUd^Oe]F^d^\F`^Y_FUUd^dSQ SF_ad^ ^e^afad`d^\f^\FYd]fad^[eZUfdbe`FR^ c DPdSSF_FbaFW^ \FYd]faeb\d^ dSSF_aeW^ \fQ [Lfe_e^\f^[dbd][F_F^`d^]aead^\F``PfXXdQ Of`FR c Nb^ [e]d^ \f^ Ve_e^ a_e^ Yf&^ dSSF_Fbaf^ ) 8' &957:;&252&:;;^Sf]]ead^fb^fVacgMWW[WW[ YF_^f`^`daad^bRH^F^\f^fVacgS\WWW[WWgYF_^f` `daad^bR>R^ c DPeVVfZ\f[eae_fd^\dT_M^TF_]e_F^fb^CebQ [F``F_feW^f`^Y_FUUd^\Pe[KZf]ad^Q^\F\daae^`e VfM^TF_]eae^[eZUfdbF^QW^Fba_d^f`^aF_XfbF \f^Vfd_bf^]F]]ebae^\e``e^\eae^\f^eVVfZ\fQ [eUfdbFR^DF^]YF]F^\f^a_e]SF_fXFbad^]dbd e^[e_f[d^\F``PeVVfZ\f[eae_fdR^ c =f^\f]YdbFW^e^[Z_e^\F`^[_F\fad_F^Y_d[FQ \FbaFW^ `e^ bdafSf[e^ \F``e^ Y_F]FbaF^ d_\fQ bebUe^ef^[_F\fad_f^bdb^[dXYe_]f^F"^e_aR /6:^[RYR[R^Fba_d^f`^aF_XfbF^\f^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe^\F`

>YfZVRdc`dg+e__\\g`\gHBWHg6\4\>\ * 8))*/; 6*118;+57:528; '118; -:77:/; EcUX_fYYcg eRdf`]e_fg Xfag _ e__fJeL Uf`^cg fg _eg UfZf__eRdc`fg ]dg Zc`dP_d Yd^cg`f_gZcUV`fg]dgEda gZcY^d^Vd^cg]e ^faaf`dgePadZc_dgfgZeXe``c`d[gV`gUe^L ^e^e^cdcgfgV`egXe_eRRd`egZc`gVNNdZd[g_cL Ze_fg ZeOd`eg f_f^^adZe[g _cZe_fg ZeOd`e Zc`^ac__cgXfYe[g_cZe_fg]fXcYd^cg408[ SgJeYZ3fgXfagd_g]fXcYd^cg_f^eUf[gNeOL OadZe^cge]dOd^cgegY^e__eg #6944:;.819/ <gSSQ\WWW[WW 2)85$2:/;<gM\WWW[WW

95!278;$:5;25$857:/ TTBTSBSWTS

95!278;$:5;25$857:/ TFBTSBSWTSg e`^ 6944:;\f^<\gSWG\WWW[WW

95!278;$:5;25$857:/ TMBWTBSWTQg e`^ 6944:;\f^<\gSWG\WWW[WW c DF^TFb\faF^]e_ebbd^FSSFaaZeaF^Y_F]]d^f` @_fOZbe`F^\f^C_dadbF^ b 0afYf`^eafg _fg cNNfa^fg f`^acg 3\TS\WW ]f_gPdca`cgXafZf]f`^fg_egJf`]d^eg c .F_^XeVVfd_f^fbSd_XeUfdbf^_fTd`VF_]f^e``e [eb[F``F_fe^Se``fXFbae_F^\F`^@_fOZbe`F^\f C_dadbFW^d^e`^CZ_ead_F^ c 9daaR^ Jbadbfd^ =e`F_bd^ [db^ ]aZ\fd^ fb CZa_d^e``e^Tfe^EeUfdbe`F^F2d^^[db]Z`ae_F f^]faf^fbaF_bFa^!!!Ra_fOZbe`F\f[_dadbFRbFa F^!!!Re]aFfXXdOf`fRfaR CCCCC >YfZVRdc`dgAUU\g`\gFGBWQg6\4\>\ *,*/; 6*; 685$91$:; '6 :; -:77:; 52$:/;8egXdf`egf]gd`^faegXacXadf^=g]d eXXea^eUf`^cg e_g Xde`cg ^faaeg Yd^cg d` AYc_eg]dgEeXcg6dRRV^c[g_cZe_d^=g0aedeL _c`Pe\ #6944:;.819/ <\gQW\WWW[WW 2)85$2:/;<\gT\WWW[WW

95!278;$:5;25$857:/ THBWTBSWTQ c DF^TFb\faF^]e_ebbd^FSSFaaZeaF^Y_F]]d^f` @_fOZbe`F^\f^C_dadbF^ b 0afYf`^eafg _fg cNNfa^fg f`^acg 3\TS\WW ]f_gPdca`cgXafZf]f`^fg_egJf`]d^eg c .F_^XeVVfd_f^fbSd_XeUfdbf^_fTd`VF_]f^e` CZ]ad\F^0fZ\fUfe_fd^JTTR+e_[F``e^NebbdQ Yd`fW^[db]Z`ae_F^f^]faf^fbaF_bFa^!!!Ra_fOZQ be`F\f[_dadbFRbFa^ F !!!Re]aFfXXdOf`fRfaR CCCCC +e__dUf`^cgg`\gTGBSWWMg *,*/; 6*;118;+57:528; '118 CZ_ead_F)^9daaR]]e^CLfe_e^%fUUe^ -:77:;'52$:/ 0df`egXacXadf^=gXfag_eg?Vc^eg]d TWWWBTWWWg ]dg V`g ^faaf`cg Yd^cg eg EacL ^c`f[g NaeRdc`fg 1e`g 4dcaPdcg 20eXe`dL Zeac5g Lg $deg @`^dZ3fg %eYYfadfg d` Ze^eY^cg ^faaf`dg g e_g NP\g QQg X\__eg FFI[ ?Ve_d^=gYfUd`e^dJc[gZ_eYYfgSgYVXfaNdL ZdfgZe^eY^e_fgU?\gT\HWW #6944:;.819/ <gQSM\WWW[WW d`a_F^fXYd]aF 2)85$2:/ <gT\WWW[WW

95!278;$:5;25$857:/ TMBWTBSWTQ Nb^[e]d^\f^e]ae^\F]F_ae^Zb^e`a_d^fb[ebad^eT_M `ZdVd^f`^Vfd_bd)^WMBWSBSWTQ c (F_XF^aZaaF^`F^e`a_F^Xd\e`faM^fb\f[eaF^fb Y_F[F\FbUeR c DF^TFb\faF^]e_ebbd^FSSFaaZeaF^Y_F]]d^f` @_fOZbe`F^\f^C_dadbF^ b 0afYf`^eafg _fg cNNfa^fg f`^acg 3\TS\WW ]f_gPdca`cgXafZf]f`^fg_egJf`]d^eg

c .F_^XeVVfd_f^fbSd_XeUfdbf^_fTd`VF_]f^e``e [eb[F``F_fe^(e``fXFbae_F^\F`^@_fOZbe`F^\f C_dadbFW^N5^YfebdW^F^Y_F]]d^`d^]aZ\fd^\F` [Z_ead_F^ Tfe^ @d_fbd^ bR-4W^ aF`2Se" A6->26A?/A-R^Nbd`a_F^[db]Z`ae_F^f^]faf^fbQ aF_bFa^ !!!Ra_fOZbe`F\f[_dadbFRbFa^ F !!!Re]aFfXXdOf`fRfaR

J55N=B^9N^5GE9N@J 0acZf]Vaeg`\gHKBSWWWg 1FVf]a_d^G]F[ZUfdbf^NXXdOf`fe_f N`^Y_dSF]]fdbf]ae^\F`FVead +

*; +( , +; , " ; [db^Y_dY_fd^]aZ\fd^`FVe`F^]fad^fb^5fe^.ed`d B_]f^bR^4^\f^DeXFUfe^@F_XFW^bF``e^Y_d[F\Z_e F]F[ZafTe^Y_dXd]]e^ \e^*JECB^9N^EJ.BDN^=.J 8d_e^=ebYed`d^*eb[d^\f^EeYd`f^]Ye<^I Tf]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^4HR?R>AA7 ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[RI _faFbZad^bF[F]]e_fd^Sf]]e_F^`Pfb[ebad^\Ff^OFbf YfVbd_eafW^ef^]Fb]f^\F``Pe_aR^?6H^[Y[I Tf]af^^V`f^e_a^?-6^F^?7-^[RYR[R J55N=J [LF^f`^^TIg)dZfUOafgSWTSge__fgcafgTF\WWg]f aF__M^ `e^ TFb\fae^ e`^ YZOO`f[d^ fb[ebad^ \F`^ ]FQ VZFbaF^fXXdOf`F) -3003; (" 3/ 0df`eg XacXadf^=g af_e^dJeL Uf`^fge]gV`geXXea^eUf`^cge]dOd^cge ZdJd_fgeOd^eRdc`fgXcY^cge_g^faRcgXde`c d`^fa`cg Hg fg e]g V`g PeaePfg XcY^cg e Xde`cg^faae[gNeZf`^dgXea^fg]dgV`gZcaXc ]dgNeOOadZegegZd`?VfgXde`dgN\g^\[gYd^cg`f_ EcUV`fg]dg8eUfRdeg;faUfg:dZeY^ac[ d`gJdeg]fP_dgA^e_dg`\gHDg_9eXXea^eUf`^c ]dg U?g IKg ZdaZe[g -g ZcUXcY^cg ]eg d`L PafYYc[g ZVZd`eLYcPPdca`c[g adXcY^dL P_dc[g `7g Sg Y^e`Rfg ]eg _f^^c[g Ye_c^^cg f OeP`cDggXafYf`^ege`Z3fgg`7gQgOe_Zc`d Z3fgZcUX_fYYdJeUf`^fgUdYVae`cgTS U?g ZdaZeDg Zc`Nd`eg Zc`g Je`cg YZe_e[ Je`cgeYZf`Ycaf[gYXeRdcg]9dYc_eUf`^c fgeXXea^eUf`^cgYVO\gTWgA`^fa`cgMD d_gPeaePfg]dgU?gSSgZdaZegZc`Nd`egZc` YXeRdcg]9dYc_eUf`^c[gYVO\gGgfgYVO\TQ\ >Y^fa`eUf`^fge__egY^aV^^VaegYdgYJc_Pf V`9eafeg ]dg Xfa^d`f`Reg afZd`^e^eg Zc` UVaf^^cg d`g Ze_ZfY^aVRRcg fg YcJaeL Y^e`^fgad`P3dfaegd`gNfaac\ 89dUUcOd_fg-gadXca^e^cge_g:E>*ge_gNcL P_dcgQG[gXea^dZf__egTQQW[gYVOe_^fa`cgTT\ 'ZZVXe^cg]eg^faRd\ :f_gXafRRcgd`]dZe^cg`c`gYc`cgd`Z_VYf _fgYXfYfg]dgYe`e^cadegcgZc`]c`c\ 8';;'g*:AE'gZcUfgYcXaeg]fYZad^^cD # , 3/ <\gHH\KST[WT 8FZ_d^ ]F]]ebae]FfXf`eKZeaa_d[FbadTFbQ aZbd2AH< "-+( "3; "(" 3/ <\gQ\QSS[WW 8FZ_d^a_FXfQ `ea_F[FbadTFbaf\ZF2AA<I c DZdVd^\f^F]eXF^\F``F^dSSF_aF)^=aZ\fd^`FQ Ve`F^\F`^Y_dSF]]fdbf]ae^\F`FVead^]fad^fb 5fe^.ed`d^B_]f^bR^4^\f^DeXFUfe^@F_XF 8[F``R^4/AR-/67/H:<R c EF``e^\eae^ebUf\FaaeW^YF_^eVVfZ\f[e_]f^f OFbf^]e_M^bF[F]]e_fd^FSSFaaZe_F^e`XFbd Zb^_f`eb[fd^\F`^Y_FUUd^\F``PfXYd_ad^]dY_e fb\f[eadR c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``F^_F`eUfdbf^\f^]afXe^e^Sf_Xe^\F`^\daaR 1R^@e`e_f[d^\F`^>R/R>AA7W^[LF^\FTF^F]Q ]F_F^ [db]Z`aeae^ \e``PdSSF_FbaFW^ F\^ e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _fbTfd^ eb[LF^ YF_ aZaad^ [f ^ [LF^ [db[F_bF^ `PF]f]aFbUe^ \f FTFbaZe`f^dbF_f^F^YF]f^e^KZe`]fe]f^afad`d V_eTebaf^]Zf^OFbfR^De^]aF]]e^;^[db]Z`aeQ Of`F^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae \F`FVead^\e`^`ZbF\ ^e`^TFbF_\ ^\e``F^d_F H7^e``F^d_F^H6W^Y_FTfd^eTTf]d^aF`FSdbf[dW F^]Z`^]fad^fbaF_bFa^!!!Re]aFRFZVFbfZ]RfaI ! ! !R e ] a F f X X d O f ` f R f a I !!!RYd_ae`Fe]aFR[dXR^ c =f^eTTf]eW^fb^dVbf^[e]dW^[LF^`e^TFb\fae


eTTfFbF^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb [Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF^`F^FTFbQ aZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eVfdbf^F\ eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFI^[LF^`e TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^[LF FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^[LF^`e TFb\fae^ Sd_Ueae^ bdb^ ;^ ]dVVFaae^ e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^\F``F^dSSF_aF^F^`F^[db\fUfdbf^\F``e TFb\fae^]dbd^_FVd`eaF^[dXF^]FVZF) +B9JDN@JP^9N^5GE9N@J^CBE^^NECJE@B^ c J^ bd_Xe^ \F``Pe_aR^ ?76^ [RYR[R^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^dSS_f_F YF_^ `Pe[KZf]ad^ \F``PfXXdOf`F^ YfVbd_ead YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^`FVe`F^eb[LF^e^bd_Xe^\F``Pe_a^?76W Z`afXd^[dXXeW^[RYR[RI^f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad \f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^ d^ ][_faaZ_e^ Y_fTeae^ eZaFbaf[eW bdb^ F]]Fb\d^ ]ZSSf[fFbaF^ ^ `3d_\fbe_fd Xeb\ead^e``F^`fafI^bF``3fYdaF]f^\f^[Zf^e`^?76 [dXXe^4^[Y[W^f`^Xeb\ead^]YF[fe`F^_f]Z`Q aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae eZaFbaf[eae^ \dT_M^ F]]F_F^ \FYd]faead [dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF^\F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``3e_aR^?:4^[dXXe^H [Y[I^^ b _fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegf`^ac d_gTFg)AE>%(6>gSWTSgcafgTQ\WW\ c DF^]aF]]F^Yda_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^]Zfb\f[ead^Y_dSF]Q ]fdbf]ae^\F`FVead^\e`^`ZbF\ ^e`^TFbF_\ \f^dVbf^]FaafXebeW^bFV`f^d_e_f^\PZSSf[fdR EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^=Z``e^Y_F\Faae^OZ]ae \dT_ebbd^F]]F_F^ebbdaeaFW^e^[Z_e^\F` Y_dSF]]fdbf]ae^_f[FTFbaF^d^\f^]Zd^\F`FQ VeadW^f`^bdXF^\f^[Lf^XeaF_fe`XFbaF^Y_dTQ TF\F^ e`^ \FYd]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F \F``PF]F[ZUfdbFW^KZF``d^\F`^Y_dSF]]fdbfQ ]ae^ \F`FVead^ F^ `e^ \eae^ Sf]]eae^ YF_ `PF]eXF^\F``F^dSSF_aFI^ c `PdSSF_FbaF^\dT_M^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[dbQ aFbFbaF^ ^e^YFbe^\f^fbFSSf[e[fe^Q)^`Pfb\fQ [eUfdbF^ \F`^ bZXF_d^ \f^ 10G^ \F``e Y_d[F\Z_eW^\F`^Y_FUUd^dSSF_ad^ ^[LF^bdb Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfbfXd fb\f[ead^bF``PeTTf]d^\f^TFb\fae^QW^`Pf\FbafQ Sf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf^]f^_fSFQ _f][F^ `PdSSF_ae^ F\^ dVbf^ e`a_d^ F`FXFbad Zaf`F^ e``e^ Te`ZaeUfdbF^ \f^ KZF]aeW^ [dXQ Y_F]F^`F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F [dbfZVeadW^_FVfXF^Yea_fXdbfe`F^a_e^f^[dQ bfZVf^fb^[e]d^\f^[dXZbfdbF^`FVe`F^a_e^f OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbFQ _e`faM^\F`^[dbfZVF^bdb^dSSF_FbaFW^bF``3fYdQ aF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dbe`F^ \e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]a3Z`afXdW^F"^e_aR H76^[dXXe^N^`FaaR^SR^[d\^[f[RW c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^NN^[dXXe^\F``e^\f]Yd]fUfdbF^bd_XeQ afTe<W^d`a_F^e^[dYfe^\f^Te`f\d^\d[ZXFbad \Pf\FbafaM^\F``PdSSF_FbaF^FW^]F^bF[F]]e_fd e^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dTebaF f^YdaF_f^d^`e^`FVfaafXeUfdbF^8F]R^Y_d[Z_e ]YF[fe`F^d^[F_afSf[ead^[eXF_e`F<I c fb^[e]d^\f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^`Pfb\f[eUfdbF^\f^KZF``dW^a_e KZF]afW^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f Sd_XZ`e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI `3f]aebUe^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^0fZ\f[F^@ZaF`e_FW^\e^\FYdQ ]fae_F^fb^[dYfe^[dbSd_XFI^ c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR^Nb^[e]d^\f f]aebUe^Y_F]Fbaeae^[dbVfZbaeXFbaF^\e Yf&^]dVVFaafW^\FTF^F]]F_F^fb\f[ead^[d`Zf [LF^eOOfe^`3F][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadR c Edb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`3fXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`3f]aebUeI c `F^ OZ]aF^ ]e_ebbd^ eYF_aF^ e``3Z\fFbUe ]aeOf`fae^YF_^`3fb[ebad^e``e^Y_F]FbUe^\FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``3eVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``3e_aR ?:H^[Y[I^`e^Xeb[eae^Ye_aF[fYeUfdbF^e`Q `3fb[ebad^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M

' `3fb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_d^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``3fb[ebadW dTF^`3dSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fd^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:H^[Y[W^[dXXe^>^YF_ [db]FVZf_F^`3eVVfZ\f[eUfdbF^Y_dTTf]d_fe c J``PdSSF_aeW^ \dT_M^ F]]F_F^ e``FVeae^ Zbe Sdad[dYfe^\F`^\d[ZXFbad^\Pf\FbafaMW^bdbQ [L'^Zb^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fQ Of`F^fbaF]aead^e`^Y_dSF]]fdbf]ae^\F`FVead Q^ eTTd[ead^ (_eb[F][e^ 5F][f^ G=^ fXXR -/2>AAA^@_fOR^DR@R^QW^e^afad`d^\f^[eZUfdbFW YF_^Zb^fXYd_ad^bdb^fbSF_fd_F^e`^\F[fXd \F`^Y_FUUd^Oe]F^\Pe]ae^]Z\\FaadW^YFbe `PfbFSSf[e[feR^ c 9Faae^]dXXe^]e_M^a_eaaFbZae^fb^[e]d^\f _fSfZad^ \F``Pe[KZf]adI^ `PeVVfZ\f[eae_fd Yda_M^ daaFbF_F^ YF_^ `Pe[KZf]ad^ \Ff^ OFbf Yd]af^e``Pe]ae^XZaZf^e^ae]]f^F^[db\fUfdbf F[dbdXf[LF^Y_F]aeOf`faf^\e^dVbf^]fbVd`e Oeb[e^e\F_FbaF^e`^[\R^Y_dad[d``d^J*NW^_fQ Td`VFb\d]f^\f_FaaeXFbaF^e``F^eVFbUfF^d Sf`fe`f^\F``F^Oeb[LF^f`^[Zf^F`Fb[d^_f]Z`ae^_FQ YF_fOf`F^Y_F]]d^f`^Y_dSF]]fdbf]ae^\F`FVead F^Y_F]]d^f`^]fad^J*NI^`e^Te`f\faM^F^`PFSSf[eQ [fe^ \F``PdSSF_ae^ \Pe[KZf]ad^ ;^ _FVd`eae \e``Pe_aR^?7HW^[dXXe^>W^[RYR[RI^ c `PdSSF_ae^;^f__FTd[eOf`F^YF_^H>A^Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbF^ef^]Fb]f^\F``Pe_aR ?7HW^ [dXXe^ 4W^ [RYR[RI^ `F^ Xd\e`faM^ \f TFb\fae^e``Pfb[ebad^]dbd^_FVd`eaF^\eV`f e_aaR^?:H^F^]FVZFbaf^[RYR[RI^ c f`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUdW^bdb[L'^\f^Z`aF_fd_f^dbF_fW^\f_faaf^F ]YF]F^[db]FVZFbaf^e``e^TFb\fae^;^\f^-A Vfd_bf^\e``PeVVfZ\f[eUfdbF^XF\febaF^\FQ Yd]fad^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fQ Of`F^fbaF]aead^e`^Y_dSF]]fdbf]ae^\F`FVead Q^ eTTd[ead^ (_eb[F][e^ 5F][f^ G=^ fXXR -/2>AAA^@_fOR^DR@R^d^]Z^Zb^`fO_Faad^\f^\FQ Yd]fad^ Yd]ae`F^ d^ Oeb[e_fd^ bdXfbeafTdW fbaF]aead^e``e^Y_d[F\Z_e^F^Tfb[d`ead^e`Q `Pd_\fbF^\F`^0fZ\f[FW^Y_F]]d^`e^+.=^]Ye ^eVFbUfe^\f^DeXFUfe^@F_XFI^fb^[e]d^\f fbe\FXYfXFbad^ `PeVVfZ\f[eUfdbF^ ]e_M _FTd[eae^F^`PeVVfZ\f[eae_fd^YF_\F_M^aZaaF `F^]dXXF^TF_]eaFI^`F^]YF]F^\f^a_e]SF_fQ XFbad^\F`^OFbF^]dbd^e^[e_f[d^\F``PeVQ VfZ\f[eae_fd^ [Zf^ _F]aebd^ _f]F_TeaF^ `F eaafTfaM^ F^ f^ [d]af^ YF_^ `e^ [eb[F``eUfdbF \F``F^ Sd_Xe`faMR^ N`^ YeVeXFbad^ YF_^ `F ]YF]F^\f^a_e]SF_fXFbad^\FTF^F]]F_F^FSQ SFaaZead^[dbaF]aZe`XFbaF^e^KZF``d^\F``e \fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbFW bF``e^ Xf]Z_e^ \F`^ >A ^ \f^ KZF]a3Z`afXdW ]d`d^ e``d_e^ TF__M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ef^]Fb]f^\F``3e_a^?:-^[RYR[R c BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\Pe[KZf]ad^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR c .F_aebadW^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^\fF[f^Vfd_bf^]FbUe^dSSF_aF fb^eZXFbadR^@e`f^dSSF_aF^Yda_ebbd^F]]F_F \FYd]faeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]Q ]fdbf]ae^\F`FVeadW^bF``F^Sd_XF^\f^[Zf^e`Q `Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF^YF_ Zbe^ ]dXXe^ Ye_f^ e`^ \dYYfd^ \F``e^ [eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[R c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR BVbf^\dXeb\e^\f^_F]afaZUfdbF^\F``e^[eZQ UfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f^dSQ SF_Fbaf^e`^Y_dSF]]fdbf]ae^\F`FVeadR A_g0acNfYYdc`dY^eg)f_fPe^c JTTR^(_eb[F][e^5F][f

J55N=B^9N^5GE9N@J 0acZf]Vaeg`\gGSBSWWT 1FVf]a_d^G]F[ZUfdbf^NXXdOf`fe_f N`^Y_dSF]]fdbf]ae^\F`FVead^ +

*; +( , +; , " ; [db^Y_dY_fd^]aZ\fd^`FVe`F^]fad^fb^5fe^.ed`d B_]f^bR^4^\f^DeXFUfe^@F_XFW^bF``e^Y_d[F\Z_e F]F[ZafTe^Y_dXd]]e^\e^=BCNG@J3^+JQ 91JC^DN+N@G9I^ Tf]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^HHRHAR>AA7 ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[R^F^`e^]Z[[F]]fTe Y_d_dVeI^Tf]ad^f`^Y_dTTF\fXFbad^\F`^0RGR^\F` >>RH>R>AHH^[db^f`^KZe`F^;^]aeae^eZad_fUUeae^`e _f\ZUfdbF^\f^\F`^Y_FUUd^Oe]F^\3e]aeI^_faFbZad bF[F]]e_fd^Sf]]e_F^`Pfb[ebad^\Ff^OFbf^YfVbdQ _eafI Tf]ad^`3e_aR?-6^[RYR[RI J55N=J [LF^ bF``e^ \eae^ F^ bF`^ `ZdVd^ ]daad^ fb\f[eaf^ ]f aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F`^]FVZFbaF fXXdOf`F) -3003;(*; ]f`cUd`e^cgd`gXfadRdeg/Xde`c ^faae.\g A]f`^dNdZe^cge_g:\E\>\*\gNcP_dcgKgX\__e KSMgYVOgT[gQgfgTS\ 1d^cg`f_gEcUV`fg]dg8eUfRdeg;faUfgL 1\g>VNfUdeg2E&5[gd`g_cZe_d^=g%eaVZe[ Jdeg1^ae]eg0acJd`Zde_fg1e`^9>VNfUde %ead`eg+dVUfg(eP`d[gadZe]fgd`g&c`e >2ePadZc_egca]d`eade5g]f_g064g]f_gEcL UV`fg]dg8eUfRdeg;faUf\ EcUXcY^cg]egV`gXde`cg^faae[gd]f`^dNdL Ze^ege_gYVO\gTSggZc`gYVXfaNdZdfgZcUL X_fYYdJeg]dgFWK[GHgU?[gZc`gV`9e_^fRRe d`^fa`eg]dgU_gK[WWDge]dOd^cge]ge^^dJd^= ZcUUfaZde_f[g ZcY^d^Vd^cg ]eg `\g Tg d`L PafYYcgZc`gXca^egd`gNfaac[gVYZd^eg]dgYdL ZVafRRe[g OeP`d[g adXcY^dP_dc[g VNNdZd[ _cZe_fg XafXeaeRdc`fg ZdOcg fg Ye_e (d`Pc\ggg)fXcYd^cgNeOOadZe^c[gd]f`^dNdL Ze^cg e_g YVOg Q[g Zc`g YVXfaNdZdfg ZcUL X_fYYdJeg ]dg SSH[QFg U?\[g ]dg e_^fRRe d`^fa`egXeadgegU_\gK[WW\gEcUXcY^eg]e `\SgVNNdZd[gOeP`dgfg_cZe_fgZe_]ede[gZc` e``fYYegZf__egNadPcgYdgXafYf`^egd`gYVNL NdZdf`^fgY^e^cg]dgZc`YfaJeRdc`fgfgUeL `V^f`Rdc`f\g Eca^fgNeOOadZe^cgd]f`^dNdZe^cge_gYVOgT ]dgU?\gSTIK\g 'ZZVXe^cg ]eg ^faRd\g :f_g XafRRcg d`]dL Ze^cg`c`gYc`cgd`Z_VYfg_fgYXfYfg]dgYeL `e^cadegcgZc`]c`c\ #6944:; 819/ <\gTKQ\IKM[FM 8FZ_d^ [FbadKZe_ebaea_FXf`ebdTF[FbadKZeQ _ebae[fbKZF2:?<I -3003;(*; ;]f`cUd`e^cgd`gXfadRdeg/Xde`c XadUc.gA]f`^dNdZe^dge_g:\E\>\*\gNcP_dcgK Xea^dZf__egKSMgYVOgH[gGgfggF[ 1d^cg`f_gEcUV`fg]dg8eUfRdeg;faUfg1\ >VNfUdeg2E&5[gd`g_cZe_d^=g%eaVZe[gJde 1^ae]eg0acJd`Zde_fg1e`^9>VNfUdeg%eL ad`eg +dVUfg (eP`d[g adZe]fg d`g &c`eg > 2ePadZc_egca]d`eade5g]f_g064g]f_gEcL UV`fg]dg8eUfRdeg;faUf\ EcUXcY^cg]eg`\gSgeXXea^eUf`^dgXfa ZdJd_fgeOd^eRdc`f[gd]f`^dNdZe^dgedgYVOgG fg Fg Xfag V`eg YVXfaNdZdfg ZcUX_fYYdJe ZcXfa^eg]dgU?gQSS ^faaeRRfg fg Oe_Zc`dg g g d]f`^dNdZe^dg e`L Z39fYYdgYVOgGgfgFgXfagZcUX_fYYdJdgU? IG[WQ[g V`g_cZe_fgd]f`^dNdZe^cge_gYVO\gHgf]ge__c Y^e^cgaVY^dZcgfg]egadNeaf[gXfaZ3 g]fJeL Y^e^cg]egd`Zf`]dc[gXfagV`egYVXfaNdZdf ZcUX_fYYdJeg]dgU?gTIM[QGgZcUXaf`L ]f`^fg^faaeRRfgfgOe_Zc`dgXfagZcUX_fYL YdJdgU?gQK[HFgd]f`^dZe^dge`Z39fYYcge_ YVOgHDg 'ZZVXe^cg]eg^faRd\ :f_gXafRRcgd`]dZe^cg`c`gYc`cgd`Z_VYf _fgYXfYfg]dgYe`e^cadegcgZc`]c`c\ #6944:; 819/;<\gKM\KMM[FG 8FZ_d^ KZe_ebae[fbKZFXf`eKZeaa_d[Fbad[fbQ KZebae[fbKZF2:7<I -3003;(*; ;]f`cUd`e^cgd`gXfadRdeg/Xde`c YfZc`]c.gd]f`^dNdZe^cge_g:\E\>\*\gNcL P_dcgKgXea^dZf__egKSMgYVOgIg\ 1d^cg`f_gEcUV`fg]dg8eUfRdeg;faUfg1\ >VNfUdeg2E&5[gd`g_cZe_d^=g%eaVZe[gJde 1^ae]eg0acJd`Zde_fg1e`^9>VNfUdeg%eL ad`eg +dVUfg (eP`d[g adZe]fg d`g &c`e >2ePadZc_egca]d`eade5g]f_g064g]f_gEcL UV`fg]dg8eUfRdeg;faUf\ EcUXcY^cg]eg`7gTgeXXea^eUf`^cgeOdL ^eOd_fgXfagV`egYVXfaNdZdfgZcUX_fYYdJe ]dgU?gSQW[SK[gZcUXaf`]f`^fg^faaeRRf fgOe_Zc`dgXfagU?\gHK[THgZc`gV`egRc`e ]egadNeafgXfagU?\gMK[QK[gfgaf_e^dJfg^faL aeRRfgfgOe_Zc`dge__cgY^fYYcgY^e^cgXfa U?gTKG[HI\ 'ZZVXe^cg]eg^faRd\ :f_gXafRRcgd`]dZe^cg`c`gYc`cgd`Z_VYf _fgYXfYfg]dgYe`e^cadegcgZc`]c`c\ #6944:; 819/;<\gQT\QKT[HS 8FZ_d^a_FbaZbdXf`ea_F[FbadKZe_ebaZbd2-><I

b )e^eg]f__9fYeUfg]f__fgcNNfa^f,gSWg]dL ZfUOafgSWTSgcafgTF\WW\ c DZdVd^\f^F]eXF^\F``F^dSSF_aF)^=aZ\fd^`FQ Ve`F^\F`^Y_dSF]]fdbf]ae^\F`FVead^]fad^fb 5fe^.ed`d^B_]f^bR^4W^\f^DeXFUfe^@F_XF 8@F`FSdbd^4/AR-/67/H:<R J55N=J^JD@1G= [LF^bF``F^fYdaF]f^fb^[Zf) c Q^bdb^]febd^Y_dYd]aF^dSSF_aF^\Pe[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q^`F^dSSF_aF^bdb^]febd^FSSf[e[f^ef^]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q^]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FQ Tf]aF^\e``Pe_aR^?7>W[dXXe^4W^[RYR[RI c Q^ `e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI c eT_M^`ZdVd^`e^TFb\fae^[db^fb[ebad^\F` XF\F]fXd^OFbF^bF``e^]FVZFbaF^\eae^F `ZdVd) -3003; [dXF^]dY_e^\F][_faad #6944:; 819/ <\gTKQ\IKM[FM 8FZ_d^[FbadKZe_ebaea_FbdTF[FbadKZe_ebaeQ [fbKZF2:?<I "-+( "3; "(" 3/ <\gG\TIG[SI 8FZ_d^]FaaFQ Xf`e[Fbad]FaaF2>6< -3003; [dXF^]dY_e^\F][_faad #6944:; 819/ <\gKM\KMM[FG 8FZ_d^ KZe_ebae[fbKZFXf`eKZeaa_d[Fbad[fbQ KZebae[fbKZF2:7<I "-+( "3; "(" 3 <\gS\SGS[GIg8FZ_d^\ZFXfQ `e\ZF[Fbad]Faaebae\ZF276<I -3003; ;[dXF^]dY_e^\F][_faad #6944:; 819/ <\gQT\QKT[HS 8FZ_d^a_FbaZbdXf`ea_F[FbadKZe_ebaZbd2-><I "-+( "3; "(" 3;<\gT\MHG[WF 8FZ_d^Xf``FQ [fbKZF[Fbad]F]]ebae]FaaF2A:<R b )e^eg ]f__9d`Ze`^cg TT\T\SWTQg g '6> TF\WW c DZdVd^\f^F]eXF^\F``F^dSSF_aF)^=aZ\fd^`FQ Ve`F^\F`^Y_dSF]]fdbf]ae^\F`FVead^]fad^fb 5fe^.ed`d^B_]f^bR^4W^\f^DeXFUfe^@F_XF 8@F`FSdbd^4/AR-/67/H:<R c Nb^ae`F^\eaeW^e^\fSSF_FbUe^\F``e^Y_fXeW YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bF[F]]e_fd FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd^\F`^Y_FUUd \F``PfXYd_ad^]dY_e^fb\f[eadR c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``e^_F`eUfdbF^\f^]afXe^e^Sf_Xe^\F``3e_Q [LfaFaad^J\_febe^.F__f^\F`^H6R4R>AA7^F \F`^\daaR^1^@e`e_f[d^\F`^>-R4R>AA7W^[LF \FTF^ F]]F_F^ [db]Z`aeae^ \e``PdSSF_FbaFW F\^e``e^KZe`F^]f^Se^F]Y_F]]d^_fbTfd^eb[LF YF_^aZaad^[f ^[LF^[db[F_bF^`PF]f]aFbUe^\f FTFbaZe`f^dbF_f^F^YF]f^e^KZe`]fe]f^afad`d V_eTebaf^]Zf^OFbfR^De^]aF]]e^;^[db]Z`aeQ Of`F^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae \F`FVead^\e`^`ZbF\ ^e`^TFbF_\ ^\e``F^d_F H7^e``F^d_F^H6W^Y_FTfd^eTTf]d^aF`FSdbf[dW F^]Z`^]fad^fbaF_bFa^!!!Re]aFRFZVFbfZ]Rfa c =f^eTTf]eW^fb^dVbf^[e]dW^[LF^`e^TFb\fae eTTfFbF^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb [Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF^`F^FTFbQ aZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eVfdbf^F\ eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFI^[LF^`e TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^[LF FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^[LF^`e TFb\fae^ Sd_Ueae^ bdb^ ;^ ]dVVFaae^ e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^\F``F^dSSF_aF^F^`F^[db\fUfdbf^\F``e TFb\fae^]dbd^_FVd`eaF^[dXF^]FVZF) ,JE@B^JDDJ^5GE9N@J^ =GE%J^NECJE@B) c J^bd_Xe^\F``Pe_aR^?7H^dVbZbdW^a_ebbF^f` \FOfad_FW^;^eXXF]]d^e^dSS_f_F^YF_^`Pe[Q KZf]ad^\F``PfXXdOf`F^YfVbd_ead^YF_]dbe`Q XFbaF^d^e^XFUUd^\f^Y_d[Z_ead_F^`FVe`F eb[LF^ e^ bd_Xe^ \F``Pe_a^ ?76W^ Z`afXd [dXXeW^ [RYR[RI^ f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eW^bdb F]]Fb\d^]ZSSf[fFbaF^^`3d_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``3fYdaF]f^\f^[Zf^e`^?76^[dXXe^4^[Y[W f`^ Xeb\ead^ ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eae \dT_M^ F]]F_F^ \FYd]faead^ [dbaF]aZe`Q XFbaF^e``e^\f[Lfe_eUfdbF^\F`^bdXfbeafTd \F``e^YF_]dbeW^\e^FSSFaaZe_]f^bF`^aF_XfbF \f^[Zf^e``3e_aR^?:4^[dXXe^H^[Y[I^^ b _fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegf`^ac _fgcafgTQ\WWg]f_gTI\TS\SWTS\g c DF^]aF]]F^Yda_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^]Zfb\f[ead^Y_dSF]Q ]fdbf]ae^\F`FVead^\e`^`ZbF\ ^e`^TFbF_\ bFV`f^ d_e_f^ \PZSSf[fdR^ EF]]Zbe^ ebbdaeQ UfdbF^\dT_M^F]]F_F^eYYd]ae^]Z``e^OZ]aeR =Z``e^Y_F\Faae^OZ]ae^\dT_ebbd^F]]F_F ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae^_f[FQ TFbaF^d^\f^]Zd^\F`FVeadW^f`^bdXF^\f^[Lf XeaF_fe`XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`


bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZUfdbFW KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead^F^`e \eae^Sf]]eae^YF_^`PF]eXF^\F``F^dSSF_aFI c `PdSSF_FbaF^\dT_M^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[dbQ aFbFbaF^ ^e^YFbe^\f^fbFSSf[e[fe^Q)^`Pfb\fQ [eUfdbF^ \F`^ bZXF_d^ \f^ 10G^ \F``e Y_d[F\Z_eW^\F`^Y_FUUd^dSSF_ad^ ^[LF^bdb Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfbfXd fb\f[ead^bF``PeTTf]d^\f^TFb\fae^QW^`Pf\FbafQ Sf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf^]f^_fSFQ _f][F^ `PdSSF_ae^ F\^ dVbf^ e`a_d^ F`FXFbad Zaf`F^ e``e^ Te`ZaeUfdbF^ \f^ KZF]aeW^ [dXQ Y_F]F^`F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F [dbfZVeadW^_FVfXF^Yea_fXdbfe`F^a_e^f^[dQ bfZVf^ fb^ [e]d^ \f^ [dXZbfdbF^ `FVe`F^ \Ff OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbFQ _e`faM^\F`^[dbfZVF^bdb^dSSF_FbaFW^bF``3fYdQ aF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dbe`F^ \e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^ \f^ OFbfW^ d[[d__F^ Y_d\Z__FW^ d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]a3Z`afXdW^F"^e_a H76^[dXXe^HW^`FaaR^SR^[d\R[fTRW^KZF``e^\F` [dbfZVF^ bdb^ e[KZf_FbaF^ \f^ [Zf^ e`^ ]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^bd_XeafTe<W^d`a_F^e^[dYfe^\f^Te`f\d \d[ZXFbad^\Pf\FbafaM^\F``PdSSF_FbaF^FW^]F bF[F]]e_fd^ e^ Te`f\e^ \d[ZXFbaeUfdbF [dXY_dTebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF 8F]R^Y_d[Z_e^]YF[fe`F^d^[F_afSf[ead^[eXFQ _e`F<I^^ c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI^`3f]aebUeW bF`^[e]d^\f^Y_F]FbaeUfdbF^^\f^Zb^XfbdQ _FbbFW^\dT_M^F]]F_F^]daad][_faae^\ef^VFQ bfad_f^W^Y_FTfe^eZad_fUUeUfdbF^\F`^VfZ\f[F aZaF`eaFW^ \e^ \FYd]fae_F^ fb^ [dYfe^ [dbQ Sd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^ [d`Zf^ [LF^ eOOfe^ `3F][`Z]fTe^ \f Sd_XZ`e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`3fXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`3f]aebUeR^J``PdSSF_aeW^\dT_M^F]]F_F e``FVeae^Zbe^Sdad[dYfe^\F`^\d[ZXFbad \Pf\FbafaMW^bdb[L'^Zb^e]]FVbd^[f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e`^Y_dSF]]fdbfQ ]ae^ \F`FVead^ Q^ eTTd[ead^ (_eb[F][e 5F][f^F]R^bR^7>2>AAH^@_fOR^DR@R^QW^e^afad`d \f^ [eZUfdbFW^ YF_^ Zb^ fXYd_ad^ bdb^ fbSFQ _fd_F^e`^\F[fXd^\F`^Y_FUUd^dSSF_adW^YFbe `PfbFSSf[e[feR^ 9Faae^ ]dXXe^ ]e_M^ a_eaaFQ bZae^fb^[e]d^\f^_fSfZad^\F``Pe[KZf]adI c `PeVVfZ\f[eae_fd^Yda_M^daaFbF_F^YF_^`Pe[Q KZf]ad^ \Ff^ OFbf^ Yd]af^ e``Pe]ae^ XZaZf^ e ae]]f^F^[db\fUfdbf^F[dbdXf[LF^Y_F]aeOfQ `faf^\e^dVbf^]fbVd`e^Oeb[e^e\F_FbaF^e`^[\R Y_dad[d``d^ J*NW^ _fTd`VFb\d]f^ \f_FaaeQ XFbaF^e``F^eVFbUfF^d^Sf`fe`f^\F``F^Oeb[LF f`^[Zf^F`Fb[d^_f]Z`ae^_FYF_fOf`F^Y_F]]d^f` Y_dSF]]fdbf]ae^\F`FVead^F^Y_F]]d^f`^]fad J*NI^fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_dQ [F\F_M^e^Ve_e^]Z``e^Oe]F^\F``PdSSF_ae^Yf& e`aeW^e^bd_Xe^\F``Pe_aR^?74^[RYR[RI^`e^Te`fQ \faM^F^`PFSSf[e[fe^\F``PdSSF_ae^\Pe[KZf]ad^; _FVd`eae^\e``Pe_aR^?7HW^[dXXe^>W^[RYR[RI^ c `PdSSF_ae^ ;^ f__FTd[eOf`F^ YF_^ H>A^ Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbF^ef^]Fb]f^\F``Pe_aR ?7HW^[dXXe^4W^[RYR[RI c `F^ Xd\e`faM^ \f^ TFb\fae^ ]FbUe^ fb[ebad ]dbd^_FVd`eaF^\eV`f^e_aaR^?7>^F^]FVZFbaf [RYR[RI^bF`^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f Y_d[F\F_M^e^Ve_e^]Z``3dSSF_ae^Yf&^e`aeW^]FQ [db\d^ f`^ ]f]aFXe^ \F``F^ ][LF\F^ d^ \F``F OZ]aF^]FV_FaFW^Seaae^]e`Te^`3eYY`f[eUfdbF \F``3e_aR^?74^[dXXe^>^[Y[ c f`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUdW^bdb[L'^\f^Z`aF_fd_f^dbF_fW^\f_faaf^F ]YF]F^[db]FVZFbaf^e``e^TFb\fae^;^\f^-A Vfd_bf^ \e``PeVVfZ\f[eUfdbF^ XF\febaF^ f` \FYd]fad^\f^e]]FVbd^[f_[d`e_F^bdb^a_eQ ]SF_fOf`F^fbaF]aead^e`^Y_dSF]]fdbf]ae^\F`FQ Vead^ Q^ eTTd[ead^ (_eb[F][e^ 5F][f^ G= fXXR^7>2>AAH^@_fOR^DR@R^d^]Z^Zb^`fO_Faad \f^\FYd]fad^Yd]ae`F^d^Oeb[e_fd^bdXfbeQ afTdW^fbaF]aead^e``e^Y_d[F\Z_e^F^Tfb[d`ead e``Pd_\fbF^ \F`^ 0fZ\f[FW^ Y_F]]d^ `e^ +.= ]Ye^ ^ eVFbUfe^ \f^ DeXFUfe^ @F_XFI^ fb [e]d^\f^fbe\FXYfXFbad^`PeVVfZ\f[eUfdbF ]e_M^_FTd[eae^F^`PeVVfZ\f[eae_fd^YF_\F_M aZaaF^`F^]dXXF^TF_]eaFI c `F^]YF]F^\f^a_e]SF_fXFbad^\F`^OFbF^]dbd e^[e_f[d^\F``PeVVfZ\f[eae_fd^[Zf^_F]aebd _f]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_^`e^[ebQ [F``eUfdbF^\F``F^Sd_Xe`faMR^N`^YeVeXFbad YF_^`F^]YF]F^\f^a_e]SF_fXFbad^\FTF^F]Q ]F_F^FSSFaaZead^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]a3Z`Q afXdW^]d`d^e``d_e^TF__M^FXF]]d^f`^\F[_Fad \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``3e_aR^ ?:[RYR[R ,JE@B^JDDJ^5GE9N@J^CBE^^NECJE@B^

% c J^bd_Xe^\F``Pe_aR^?76^dVbZbdW^a_ebbF^f` \FOfad_FW^;^eXXF]]d^e^dSS_f_F^YF_^`Pe[Q KZf]ad^\F``PfXXdOf`F^YfVbd_ead^YF_]dbe`Q XFbaF^d^e^XFUUd^\f^Y_d[Z_ead_F^`FVe`F eb[LF^ e^ bd_Xe^ \F``Pe_a^ ?76W^ Z`afXd [dXXeW^ [RYR[RI^ f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eW^bdb F]]Fb\d^]ZSSf[fFbaF^^`3d_\fbe_fd^Xeb\ead e``F^`fafI^bF``3fYdaF]f^\f^[Zf^e`^?76^[dXXe 4^[Y[W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbafQ [eae^ \dT_M^ F]]F_F^ \FYd]faead^ [dbaFQ ]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``3e_aR^?:4^[dXXe^H [Y[I^^ b _fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegf`^ac _fgcafgTQ\WWg]f_gTW\T\SWTQ\g c DF^]aF]]F^Yda_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^]Zfb\f[ead^Y_dSF]Q ]fdbf]ae^\F`FVead^\e`^`ZbF\ ^e`^TFbF_\ \f^dVbf^]FaafXebeW^bFV`f^d_e_f^\PZSSf[fdR EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^=Z``e^Y_F\Faae^OZ]ae \dT_ebbd^F]]F_F^ebbdaeaFW^e^[Z_e^\F` Y_dSF]]fdbf]ae^_f[FTFbaF^d^\f^]Zd^\F`FQ VeadW^f`^bdXF^\f^[Lf^XeaF_fe`XFbaF^Y_dTQ TF\F^ e`^ \FYd]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F \F``PF]F[ZUfdbFW^KZF``d^\F`^Y_dSF]]fdbfQ ]ae^ \F`FVead^ F^ `e^ \eae^ Sf]]eae^ YF_ `PF]eXF^\F``F^dSSF_aFI c `PdSSF_FbaF^\dT_M^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[dbQ aFbFbaF^ ^e^YFbe^\f^fbFSSf[e[fe^Q)^`Pfb\fQ [eUfdbF^ \F`^ bZXF_d^ \f^ 10G^ \F``e Y_d[F\Z_eW^\F`^Y_FUUd^dSSF_ad^ ^[LF^bdb Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfbfXd fb\f[ead^bF``PeTTf]d^\f^TFb\fae^Q`Pf\FbafSfQ [eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf^]f^_fSF_fQ ][F^`PdSSF_ae^F\^dVbf^e`a_d^F`FXFbad^Zaf`F e``e^Te`ZaeUfdbF^\f^KZF]aeW^[dXY_F]F^`F VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F^[dQ bfZVeadW^ _FVfXF^ Yea_fXdbfe`F^ a_e^ f^ [dQ bfZVf^ fb^ [e]d^ \f^ [dXZbfdbF^ `FVe`F^ \Ff OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbFQ _e`faM^\F`^[dbfZVF^bdb^dSSF_FbaFW^bF``3fYdQ aF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dbe`F^ \e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^ \f^ OFbfW^ d[[d__F^ Y_d\Z__FW^ d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]a3Z`afXdW^F"^e_a H76^[dXXe^HW^`FaaR^SR^[d\R[fTRW^KZF``e^\F` [dbfZVF^ bdb^ e[KZf_FbaF^ \f^ [Zf^ e`^ ]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^bd_XeafTe<W^d`a_F^e^[dYfe^\f^Te`f\d \d[ZXFbad^\Pf\FbafaM^\F``PdSSF_FbaF^FW^]F bF[F]]e_fd^ e^ Te`f\e^ \d[ZXFbaeUfdbF [dXY_dTebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF 8F]R^Y_d[Z_e^]YF[fe`F^d^[F_afSf[ead^[eXFQ _e`F<I c fb^[e]d^\f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^`Pfb\f[eUfdbF^\f^KZF``dW^a_e KZF]afW^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f Sd_XZ`e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI c `3f]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\f Zb^Xfbd_FbbFW^\dT_M^F]]F_F^]daad][_faae \ef^VFbfad_f^W^Y_FTfe^eZad_fUUeUfdbF^\F` VfZ\f[F^aZaF`eaFW^\e^\FYd]fae_F^fb^[dYfe [dbSd_XFI^ `PF]Y_F]]e^ \f[Lfe_eUfdbF^ \f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`3fXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`3f]aebUeI c `F^ OZ]aF^ ]e_ebbd^ eYF_aF^ e``3Z\fFbUe ]aeOf`fae^YF_^`3fb[ebad^e``e^Y_F]FbUe^\FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``3eVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``3e_aR ?:H^[Y[I^`e^Xeb[eae^Ye_aF[fYeUfdbF^e`Q `3fb[ebad^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `3fb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_d^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``3fb[ebadW dTF^`3dSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fd^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:H^[Y[W^[dXXe^>^YF_ [db]FVZf_F^`3eVVfZ\f[eUfdbF^Y_dTTf]d_feR J``PdSSF_aeW^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\Pf\FbafaMW^bdbQ [L'^ Zb^ e]]FVbd^ [f_[d`e_F^ bdb a_e]SF_fOf`F^ fbaF]aead^ e`^ Y_dSF]]fdbf]ae \F`FVead^ Q^ eTTd[ead^ (_eb[F][e^ 5F][f F]F[ZUfdbF^ fXXdOf`fe_F^ 7>2>AAH^ @_fOR DR@RQW^e^afad`d^\f^[eZUfdbFW^YF_^Zb^fXYd_ad bdb^fbSF_fd_F^e`^\F[fXd^\F`^Y_FUUd^Oe]F \Pe]ae^]Z\\FaadW^YFbe^`PfbFSSf[e[feR^9Faae ]dXXe^]e_M^a_eaaFbZae^fb^[e]d^\f^_fSfZad \F``Pe[KZf]adI^

c `PeVVfZ\f[eae_fd^Yda_M^daaFbF_F^YF_^`Pe[Q KZf]ad^ \Ff^ OFbf^ Yd]af^ e``Pe]ae^ XZaZf^ e ae]]f^F^[db\fUfdbf^F[dbdXf[LF^Y_F]aeOfQ `faf^\e^dVbf^]fbVd`e^Oeb[e^e\F_FbaF^e`^[\R Y_dad[d``d^ J*NW^ _fTd`VFb\d]f^ \f_FaaeQ XFbaF^e``F^eVFbUfF^d^Sf`fe`f^\F``F^Oeb[LF f`^[Zf^F`Fb[d^_f]Z`ae^_FYF_fOf`F^Y_F]]d^f` Y_dSF]]fdbf]ae^\F`FVead^F^Y_F]]d^f`^]fad J*NI^`e^Te`f\faM^F^`PFSSf[e[fe^\F``PdSSF_ae \Pe[KZf]ad^ ;^ _FVd`eae^ \e``Pe_aR^ ?7HW [dXXe^>W^[RYR[RI^ c `PdSSF_ae^ ;^ f__FTd[eOf`F^ YF_^ H>A^ Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbF^ef^]Fb]f^\F``Pe_aR ?7HW^ [dXXe^ 4W^ [RYR[RI^ `F^ Xd\e`faM^ \f TFb\fae^e``Pfb[ebad^]dbd^_FVd`eaF^\eV`f e_aaR^?:H^F^]FVZFbaf^[RYR[RI^ c f`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUdW^bdb[L'^\f^Z`aF_fd_f^dbF_fW^\f_faaf^F ]YF]F^[db]FVZFbaf^e``e^TFb\fae^;^\f^-A Vfd_bf^ \e``PeVVfZ\f[eUfdbF^ XF\febaF^ f` \FYd]fad^]Z^Zb^`fO_Faad^\f^\FYd]fad^YdQ ]ae`F^ d^ Oeb[e_fd^ bdXfbeafTdW^ fbaF]aead e``e^Y_d[F\Z_e^F^Tfb[d`ead^e``Pd_\fbF^\F` 0fZ\f[FW^Y_F]]d^`e^+.=^]Ye^ ^eVFbUfe \f^DeXFUfe^@F_XFIfb^[e]d^\f^fbe\FXYfQ XFbad^`PeVVfZ\f[eUfdbF^]e_M^_FTd[eae^F `PeVVfZ\f[eae_fd^YF_\F_M^aZaaF^`F^]dXXF TF_]eaFI^ c `F^]YF]F^\f^a_e]SF_fXFbad^\F`^OFbF^]dbd e^[e_f[d^\F``PeVVfZ\f[eae_fd^[Zf^_F]aebd _f]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_^`e^[ebQ [F``eUfdbF^\F``F^Sd_Xe`faMR^N`^YeVeXFbad YF_^`F^]YF]F^\f^a_e]SF_fXFbad^\FTF^F]Q ]F_F^FSSFaaZead^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]a3Z`Q afXdW^]d`d^e``d_e^TF__M^FXF]]d^f`^\F[_Fad \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``3e_aR^ ?:[RYR[R c BSSF_aF^ fb^ eZXFbad^ \f^ Zb^ KZfbad)^ e bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad^`PfbQ [ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF^dSQ SF_aF^ \Pe[KZf]ad^ Fba_d^ f`^ aF_XfbF YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^ bdb^ ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad< KZF``d^_eVVfZbad^bF``Pfb[ebadR c .F_aebadW^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^\fF[f^Vfd_bf^]FbUe^dSSF_aF fb^eZXFbadR^@e`f^dSSF_aF^Yda_ebbd^F]]F_F \FYd]faeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]Q ]fdbf]ae^\F`FVeadW^bF``F^Sd_XF^\f^[Zf^e`Q `Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF^YF_ Zbe^ ]dXXe^ Ye_f^ e`^ \dYYfd^ \F``e^ [eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[R^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_FbafW^]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTdW^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbFR^BVbf^\dXeb\e^\f _F]afaZUfdbF^ \F``e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb\f_fUUeae^\eV`f^dSSF_Fbaf^e`^Y_dSF]Q ]fdbf]ae^\F`FVeadR A_g0acNfYYdc`dY^eg)f_fPe^c 8 *; 685$91$8; 91$2 CCCCC J55N=B^9N^5GE9N@J 0acZf]VaegfYfZV^dJeg dUUcOd_deafg`\gFGBSWWIg6\g>\g 8bdXfbeafTf^dXF]]f^F"^e_aR^H7/^ \F`^9R^DV]R^bR^H6-2>AA4< N`^Y_dSF]]fdbf]ae^\F`FVead^ 8 *; 685$91$8; 21'68$8 ; [db^]aZ\fd^fb^DeXFUfe^@F_XF^8C%<W^ 5fe^0e_fOe`\f^ bR^4W^bF``e^Y_d[F\Z_e^F]F[ZafTe fb\f[eae^fb^FYfV_eSF Tf]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^F"^e_aR^?6H Of]^[RYR[R^\F``F^dYF_eUfdbf^\f^TFb\faeW^FXF]]d \e`^0fZ\f[F^\F``PF]F[ZUfdbF^\F`^@_fOZbe`F^\f DeXFUfe^@F_XF^fb^\eae^H?R7R>AHA Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae >:RHAR>AHH^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e Y_d_dVe^ \F`^ aF_XfbF^ Sfbe`F^ \f^ [dXYfXFbad \F``F^eaafTfaM^\F`FVeaF^e``e^][_fTFbaF^]fbd^e` 4AR6R>AH>^ Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae >AR6R>AH>^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e Y_d_dVe^ \F`^ aF_XfbF^ Sfbe`F^ \f^ [dXYfXFbad \F``F^eaafTfaM^\F`FVeaF^e``e^][_fTFbaF^]fbd^e` 4HR:R>AH4^ Tf]ad^ `PeTTf]d^ \f^ TFb\fae^ _F\eaad^ fb^ \eae 4HRHR>AHHW^bF`^KZe`F^]f^;^_faFbZad^bF[F]]e_fd Sf]]e_F^`F^bZdTF^TFb\faF^e`^Y_FUUd^_fOe]]ead \f^ ^ _f]YFaad^ e^ KZF``d^ Sf]]ead^ bF`^ Y_dTTF\fQ XFbad^\f^\F`FVe^\F`^H?R7R>AHAW^VfZ]ae^`PeZadQ _fUUeUfdbF^ \f^ [Zf^ e`^ YZbad^ bR^ >4^ \f^ ]fSSeaad Y_dTTF\fXFbad

Tf]ad^f`^Y_dTTF\fXFbad^\F`^H/R>R>AH>^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF Tf]ad^f`^Y_dTTF\fXFbad^\F`^H-RHAR>AH>^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF ][fd`ae^`e^_f]F_Te^Y_F]e^fb^\eae^>:R6R>AH> Tf]ad^`Pe_aR^?-6^[RYR[R J55N=J [LF^ bF``e^ \eae^ F^ bF`^ `ZdVd^ ]daad^ fb\f[eaf^ ]f aF__M^`e^TFb\fae^]FbUe^fb[ebad^\Ff^]FVZFbaf OFbf^fXXdOf`f) -3003; ; ; 0df`eg XacXadf^=g ]dg V`g ZeXe`L `c`fgd`]VY^ade_fgZc`ge``fYYdgVNNdZdgf] eafegXfa^d`f`Rde_fgfY^fa`eg]fY^d`e^ege XdeRRe_fg Ue`cJaeg fg XeaZ3fPPdc[g afL Zd`^e^cgZc`gUVaf^^cgd`gZe_ZfY^aVRRc eaUe^cg fg YcJaeY^e`^fg ad`P3dfaeg d` Xe``f__dgXafNeOOadZe^dgYVg^afg_e^d[gYd^c d`g 8eUfRdeg ;faUfg 2E&5[g &c`eg A`]VL Y^ade_fg1^ae]eg1^e^e_fgTFg(dJdcgXfag1e` 0df^acg8eUf^d`c\g;e_fgZcUX_fYYcgdUL UcOd_deafg3egV`egYVXfaNdZdfg_ca]eg]d U?\gHQT[TH[gUf`^afg_egZca^fg-g]dgU?\ S\HFM[WW\g 1dg ZcUXc`fg ]dg `\g Sg ZcaXd XcY^dgd`ge]faf`RegfgZcUV`dZe`^d[g]fd ?Ve_dg_egRc`eg]fY^d`e^ege]gd`]VY^adeg]dgU?\gKIF[KF[gUf`^afg_egRc`ege]dOd^e e]gVNNdZdgYdgYJd_VXXegYVg]VfgXde`dgNVcad ^faaeg Zc`g YVXfaNdZdfg ^c^e_fg ]dg U?\ SHM[QHgJ\X\X\gZcUXcY^eg]egMgVNNdZd[gS eaZ3dJdgfgKgOeP`d\gA_g^V^^cg-gadXca^e^cge_ :\E\>\*\g]f_gEcUV`fg]dg1e`^9>VNfUde e_g NcP_dcg MT[g Xea^dZf__eg QST[g YVOg T O\Z\`\Z\g2Zca^f5[gYVOgSgZ^P\g)BGg]dgU?\ KIF[KFg2ZeXe``c`fgd`]VY^ade_f5gfgYVO QgZ^P\g@BTWg]dgU?\gSHI[HKgX\g;gLgTg2VNL NdZd5\g%e`Zegd_gZfa^dNdZe^cg]dgePdOd_d^=gf[ Xfa^e`^c[g_9ePPdV]dZe^eadcg]cJa=gXacJL Jf]fafg e__eg adZ3dfY^eg ]dg ^e_fg Zfa^dNdL Ze^c[g edg Yf`Ydg ]f__9ea^\g SKg ]f_g )\0\6\ H\H\SWWTg`\gQFWgfgY\U\fd\\gg #6944:;.819;<gKQH\FGF[MH 8GZ_d^KZeaa_d[FbQ ada_Fbae]FfXf`e^daad[Fbad]Faaebadaad^2?-<^ -3003; ; 0df`eg XacXadf^=g ]dg V`g ZeXe`L `c`fgd`]VY^ade_fgZc`ge``fYYdgVNNdZdgf] eafegXfa^d`f`Rde_fgfY^fa`eg]fY^d`e^ege XdeRRe_fg Ue`cJaeg fg XeaZ3fPPdc[g afL Zd`^e^cgZc`gUVaf^^cgd`gZe_ZfY^aVRRc eaUe^cg fg YcJaeY^e`^fg ad`P3dfaeg d` Xe``f__dgXafNeOOadZe^dgYVg^afg_e^d[gYd^c d`g 8eUfRdeg ;faUfg 2E&5[g &c`eg A`]VL Y^ade_fg1^ae]eg1^e^e_fgTFg(dJdcgXfag1e` 0df^acg8eUf^d`c\g89d`PafYYcgeJJdf`f ^aeUd^fg eZZfYYcg ZeaaeOd_fg Zc`g Ze`L Zf__cgYZcaafJc_fgeV^cUe^dRRe^cgYV__e JdegXacJd`Zde_f\g;e_fgZcUX_fYYcgdUL UcOd_deafg3egV`egYVXfaNdZdfg_ca]eg]d U?\gT\WWQ[QW[gUf`^afg_egZca^fg-g]dgU?\ S\TTW[WW\g 1dg ZcUXc`fg ]dg V`g V`dZc ZcaXcg]dgNeOOadZege_gZVdgd`^fa`cg^acL Je`cge__cPPdcgP_dgVNNdZdgZc`g]Vfg E\gA_ ^V^^cg -g adXca^e^cg e_g :\E\>\*\g ]f_g EcL UV`fg ]dg 1e`^9>VNfUdeg e_g NcP_dcg MT[ Xea^dZf__eg GH[g YVOg Sg Z^P\g )BG[g ]dg U?\ T\WWQ[QWg2ZeXe``c`fgd`]VY^ade_f5\ #6944:;.819;<gKQG\QQS[MW 8GZ_d^KZeaa_d[FbQ ada_Fbae]FaaFXf`e^a_F[Fbada_Fbae\ZF^2?A< c N^OFbf^\f^[Zf^]dY_e^_f]Z`aebd^XFV`fd^\FQ ][_faaf^bF``e^[db]Z`FbUe^aF[bf[e^e^Sf_Xe \F``PfbVR^5fb[FbUd^@d_[e]fd^[LF^\FTF^F]Q ]F_F^[db]Z`aeae^\e``Pe[KZf_FbaF^F\^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _fbTfd^ eb[LF^ YF_ aZaad^ [f ^ [LF^ [db[F_bF^ `PF]f]aFbUe^ \f FTFbaZe`f^dbF_fW^YF]f^bdb[L'^\fSSd_XfaM F\f`fUfF^F\^Z_Oebf]af[LF^e^KZe`]fe]f^afad`d V_eTebaf^]Zf^OFbf^]aF]]fR^ c De^ _F`eUfdbF^ ;^ [db]Z`aeOf`F^ Y_F]]d^ `d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^\e` `ZbF\ ^e`^TFbF_\ W^\e``F^d_F^H-WAA^e``F d_F^H:WAAW^Y_FTfd^eYYZbaeXFbad^\e^[dbQ [d_\e_]f^aF`FSdbf[eXFbaF^F\^e`a_F] ^]Zf ]faf^ fbaF_bFa^ !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^ F^ !!!Re]aFRFZQ VFbfZ]RfaR^ b )e^eg fYeUfg cNNfa^f,g STg ]dZfUOaf SWTS[gcafgTM[WWgfgYfPP\\ c DZdVd^F]eXF^dSSF_aF)^]aZ\fd^\F`^Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^Se" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^eTTRS_eb[F][eXf]Z_e[ af][e`fRfa J55N=J^JD@1G= [LF^bF``PfYdaF]f^fb^[Zf) c bdb^]febd^Y_dYd]aF^dSSF_aF^\Pe[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadR c `F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RR c ]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>^[dXXe^NNN^[RYR[RR c `e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFR


c eT_M^`ZdVd^`e^TFb\fae^[db^fb[ebad^\Ff XF\F]fXf^ OFbf^ bF``e^ ]FVZFbaF^ \eae^ F `ZdVd)^^ -3003; ;[dXF^]dY_e\F][_faad #6944:;.819;<gKQH\FGF[MH 8GZ_d^KZeaa_d[FbQ ada_Fbae]FfXf`e^daad[Fbad]Faaebadaad^2?-<^ 2)85$2:;&252&: <gSS\WWW[WW 8GZ_d^TFbaf\ZFQ Xf`e2AA<R -3003; [dXF^]dY_e\F][_faad #6944:;.819;<gKQG\QQS[MW 8GZ_d^KZeaa_d[FbQ ada_Fbae]FaaFXf`e^a_F[Fbada_Fbae\ZF^2?A< 2)85$2:;&252&: <gSS\WWW[WW 8GZ_d^TFbaf\ZFQ Xf`e2AA<R b )e^eg]f__9d`Ze`^cgSFg]dZfUOafgSWTS[ cafgTM[WWgfgYfPP\ c DZdVd^ \F``Pfb[ebad)^ ]aZ\fd^ \F`^ Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^Se" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^eTTRS_eb[F][eXf]Z_e[ af][e`fRfa c Nb^ae`F^Z`afXe^Z\fFbUeW^e^\fSSF_FbUe^\F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbfW^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUd^Oe]FW^fb^Xf]Z_e^bdb^fbSF_fd_F e`^ XfbfXd^ ]dY_e^ fb\f[eadW^ e^ YFbe^ \f fbeXXf]]fOf`faMR^ c =f^eTTf]e^fb^dVbf^[e]d^[LF) c `e^TFb\fae^\Ff^OFbf^eTTfFbF^bF``d^]aead \f^Seaad^F^\f^\f_faad^fb^[Zf^f^OFbf^XF\F]fXf ]f^ a_dTebdW^ [d] ^ [dXF^ f\FbafSf[eafW^ \FQ ][_faaf^F^Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eQ UfdbFW^ ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_ FTfUfdbFW^Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f [db\Zaad_fW^[db^aZaaF^`F^YF_afbFbUFW^e[Q [F]]d_fW^_eVfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF F^Ye]]fTF^FTFbaZe`XFbaF^F]f]aFbafR^ c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_e^F\ FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^DPF]f]aFbUe \f^ FTFbaZe`f^ TfUfW^ Xeb[ebUe^ \f^ KZe`faM F2d^\fSSd_XfaM^\F``e^[d]e^TFb\Zae^bdbQ [L'^dbF_f^\f^KZe`]fe]f^VFbF_F^8fTf^fb[`Z]fW e\^ F]FXYfdW^ KZF``f^ Z_Oebf]af[f^ dTTF_d \F_fTebaf^ \e``e^ bF[F]]faM^ \f^ e\FVZeQ XFbad^\FV`f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F<^ YF_^ KZe`ZbKZF^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR^ c V`f^ fbaF_F]]eaf^ Yda_ebbd^ F]eXfbe_F^ V`f fXXdOf`f^Yd]af^fb^TFb\fae^Se[Fb\dbF^_fQ [LfF]ae^e`^[Z]ad\F^VfZ\fUfe_fd^eTTR^(_ebQ [F][e^ +f]Z_e[eW^ [db^ ]aZ\fd^ ]fad^ fb DeXFUfe^@F_XF^8C%<W^5fe^0e_fOe`\f^bR^4W aF`FSdbd^A6-:R>/4?4W^Se"^A6-:R//H?H-W [F``Z`e_F^44:R/A>A6-:W^FQXef`^eTTRS_ebQ [F][eXf]Z_e[ af][e`fRfa^[LFW^Y_FTfd^eYQ YZbaeXFbad^ \e^ [db[d_\e_]f aF`FSdbf[eXFbaFW^Y_dTTF\F_M^e\^e[[dXQ YeVbe_F^V`f^fbaF_F]]eaf^XF\F]fXf^Y_F]]d V`f^fXXdOf`f^]Z\\FaafR^ c ^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^[\R^Y_dad[d``d^J*N^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fR c ^Yd]]fOf`F^[db]FVZf_FW^Y_F]]d^`d^]aZ\fd \F`^Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f` ]fad^J*NW^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf e``PfbfUfeafTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe @F_XF)^]f^fbTfaebd^V`f^dSSF_Fbaf^e^[dbaeaQ ae_F^\f_FaaeXFbaF^`F^]F\f^\F``F^eVFbUfF d^Sf`fe`f^fb[e_f[eaF^\e``F^Oeb[LF^]aF]]FW \F``F^KZe`f^]e_M^\f]YdbfOf`F^eb[LF^f`^_FQ [eYfad^aF`FSdbf[dW^^Y_F]]d^`d^]aZ\fd^\F` Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f`^]fad J*NR c N`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUd^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\f_faaf F^]YF]F^[db]FVZFbaf^e``e^TFb\faeW^[dXF KZebafSf[eaf^\e`^Y_dSF]]fdbf]ae^\F`FVeadW ;^\f^-A^Vfd_bf^\e``e^\eae^\F``e^TFb\faeW XF\febaF^\FYd]fad^]Z^Zb^`fO_Faad^\f^\FQ Yd]fad^ Yd]ae`F^ d^ Oeb[e_fd^ bdXfbeafTdW fbaF]aead^e``e^Y_d[F\Z_e^F^Tfb[d`ead^e`Q `Pd_\fbF^\F`^0fZ\f[FW^VfM^e[[F]d^Y_F]]d Zb^f]afaZad^\f^[_F\fad^e^[Z_e^\F`^Y_dSF]Q ]fdbf]ae^\F`FVeadR c Ze`d_e^f`^Y_d[F\fXFbad^]f^Oe]f^]Z^[_FQ \fad^Sdb\fe_fdW^e`^TF_]eXFbad^]Z^`fO_Faad ]e_M^]d]afaZfadW^ef^]Fb]f^F^YF_^V`f^FSSFaaf \F``Pe_aR^ /HW^ [dXXe^ N5W^ \F`^ 9R^ DV]R HR6RH664^ bR^ 4:?W^ f`^ YeVeXFbad^ \f_Faad e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F`^[_FQ \fad^eUfdbead^fb^Tfe^fYdaF[e_fe^F^Y_FTfe

&

c c

c

c

c

c

c

c

b

c c

c c

c

c

c

c c c c

Y_F[f]eUfdbF^\F`^XF\F]fXdW^Fba_d^f`^aF_Q XfbF^]Zfb\f[eadW^\Fa_eaad^Zb^FTFbaZe`F e[[ebadbeXFbad^ YF_^ ]YF]F^ \f^ Y_d[FQ \Z_e^e^[e_f[d^\F``e^Xe]]eW^bF``e^Xf]Z_e [LF^]e_M^KZebafSf[eae^\e`^Y_dSF]]fdbf]ae \F`FVeadR Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR =d`d^e``PF]fad^\FV`f^e\FXYfXFbaf^]Z[[fQ aeaf^bdb[L'^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ ]fe^ [eae]ae`f^ [LF^ _F`eafTf e``F^f][_fUfdbf^F^a_e][_fUfdbf^FSSFaaZeaF^]Z` OFbFW^TF__M^FXF]]d^f`^\F[_Fad^\f^a_e]SFQ _fXFbad^F"^e_aR^?:-^[RYR[RR DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ \F`^ OFbF ]dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^F^\FQ Tdbd^F]]F_F^TF_]eaf^e`^XdXFbad^\F`^\FQ Yd]fad^ \F``e^ \fSSF_FbUe^ \F`^ Y_FUUd^ \f eVVfZ\f[eUfdbFW^ bF``e^ Xf]Z_e^ Ye_f^ e` >A ^\f^KZF]aPZ`afXdR J``PeVVfZ\f[eae_fd^_F]aebd^_f]F_TeafW^e`Q a_F] W^f^[d]af^F^`F^eaafTfaM^YF_^`e^[eb[F``eQ UfdbF^ \F``F^ Sd_Xe`faM^ bdb[L'^ f^ _F`eafTf [dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdbf]ae^\FQ `FVead^YF_^`F^dYF_eUfdbf^]Z[[F]]fTF^e``e TFb\faeW^[dXF^`fKZf\eaf^\e`^0R^GRR Nb^eVVfZbae^e`^Y_FUUd^\f^eVVfZ\f[eUfdbFW ;^ e^ [e_f[d^ \F``PeVVfZ\f[eae_fd^ f`^ YeVeQ XFbad^\F``F^]dXXF^bF[F]]e_fF^YF_^`e ]ebead_fe^ \FV`f^ FTFbaZe`f^ eOZ]f^ 8FW KZfb\fW^KZF``F^]dXXF^\dTZaF^e^afad`d^\f dO`eUfdbFW^\f^[ebdbf^[db[F]]d_fW^Fa[R<R DPeVVfZ\f[eae_fd^\dT_M^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d\^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XF^8C%<R De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^\F``F^dSSF_aF^F^`F^[db\fUfdbf^\f^TFbQ \fae^]dbd^_FVd`eaF^[dXF^]FVZF) ,JE@B^JDDJ^5GE9N@J^ =GE%J^NECJE@B J^ bd_Xe^ \F``Pe_aR^ ?7H^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Sd_XZQ `e_F^dSSF_aF^YF_^`Pe[KZf]ad^\FV`f^fXXdOf`f YfVbd_eafW^YF_]dbe`XFbaF^d\^e^XFUUd^\f Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e^ bd_Xe \F``Pe_aR^ ?76W^ Z`afXd^ [dXXeW^ [RYR[RR^ N` Y_d[Z_ead_F^`FVe`F^\dT_MW^fb^dVbf^[e]dW F]]F_F^XZbfad^\f^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eaeW^ bdb^ F]]Fb\d ]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead^e``F^`fafR EF``PfYdaF]f^\f^[Zf^e`^]Z[[faead^e_aR^?76W [dXXe^NNNW^[RYR[RW^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^NW^[RYR[RR 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL Yfafg XafYf`^e^f[g d`g OVY^eg Z3dVYe[ f`^acg_fgcafgTQg]f_gPdca`cgSWg]dZfUL OafgSWTS\ DPdSSF_ae^;^fbFSSf[e[F^]F^YF_TfFbF^d`a_F ae`F^aF_XfbFR^^ DF^dSSF_aF^]aF]]F^\dT_ebbd^F]]F_F^Y_FQ ]FbaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadW^e``Pfb\f_fUUd^]Zfb\f[eadW \e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f^ZSSfQ [fdR^ EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ ]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead F^`e^\eae^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFR DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^`ZdVd^Sf]]eaf^YF_^`PF]eXF^\F``F^dSSF_aFW e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF^[dXQ Ye_]fR DPdSSF_FbaF^\FTF^Y_F]Fbae_FW^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe) `Pfb\f[eUfdbF^ \F`^ bZXF_d^ \f^ 1R^ 0R^ GR \F``e^Y_d[F\Z_eR^ f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^e`^Y_FUUd^XfbfXd^fb\f[ead^bF`Q `PeTTf]d^\f^TFb\fae^e^YFbe^\f^fbFSSf[e[feR `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^ _fSF_f][F^ `PdSSF_ae^ F\^ dVbf^ e`a_d^ F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\f^KZF]aeR `F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdbf[dW

]aead^[fTf`F<^FW^]F^[dbfZVeadW^_FVfXF^YeQ a_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb^[dXZQ bfdbF^ `FVe`F^ \Ff^ OFbfW^ e`a_F] ^ bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`F^F^_F]f\FbUe^\F`^[dbfZVF^8e` SfbF^\f^YdaF_F^a_e]SF_f_F^e\^Fba_eXOfW^Y_d KZdaeW^ f`^ OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eQ UfdbF<W^ d`a_F^ e^ [dYfe^ \f^ Te`f\d^ \d[ZQ XFbad^\f^f\FbafaM^Y_dY_fd^8F\^eb[LF^\F` [dbfZVFW^ ]F^ ;^ fb^ [dXZbfdbF^ `FVe`F<R Edb^]e_M^Yd]]fOf`F^fb^e`[Zb^[e]d^fbaFQ ]ae_F^`PfXXdOf`F^e^]dVVFaad^\fTF_]d^\e KZF``d^[LF^]daad][_fTF^`PdSSF_aeR^=F^`PdSQ SF_FbaF^;^Xfbd_FbbFW^`PdSSF_ae^\dT_M^F]Q ]F_F^ ]daad][_faae^ \ef^ VFbfad_fW^ Y_FTfe eZad_fUUeUfdbF^ \F`^ VfZ\f[F^ aZaF`e_FR Ze`d_e^`e^YF_]dbe^Sf]f[e^\dTF]]F^Ye_Q aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdbfXe \faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fb\f[eae eb[LF^`e^Ye_afae^N5J^F\^e``PdSSF_ae^\dT_M e``FVe_]f^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F \F``e^ \faae^ ]aF]]eR^ =F^ ]d[fFaM^ dYYZ_F FbaFW^d[[d__F^]YF[fSf[e_bF^f^\eaf^f\FbafSfQ [eafTfW^fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^SfQ ][e`FW^ f`^ _F[eYfad^ ^ aF`FSdbf[d^ bdb[L' bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f^be][fae \F`^ `FVe`F^ _eYY_F]FbaebaFR^ J``e^ \dQ Xeb\e^ \dT_ebbd^ F]]F_FW^ fbd`a_FW^ e``FQ VeafW^ ]fe^ Zbe^ _F[FbaF^ Tf]Z_e^ [eXF_e`F \F``e^]d[fFaM^d^FbaF^\e``e^KZe`F^_f]Z`af^`d ]aead^\F``e^]d[fFaM^d^FbaF^XF\F]fXd^F\ f^YdaF_f^[dbSF_faf^e``PdSSF_FbaF^fb^Z\fFbUeW ]fe^[dYfe^Sdad]aeaf[e^\f^Zb^Te`f\d^\d[ZQ XFbad^ \f^ f\FbafaM^ \F``PdSSF_FbaF^ XF\FQ ]fXd^ FW^ ]F^ bF[F]]e_fdW^ Te`f\e \d[ZXFbaeUfdbF^[dXY_dTebaF^f^_F`eafTf YdaF_f^F2d^`e^_F`eafTe^`FVfaafXeUfdbF^8e\ F]RW^Y_d[Z_e^]YF[fe`F<R^Nb^[e]d^\f^\f[LfeQ _eUfdbF^Y_F]Fbaeae^\e^Yf&^]dVVFaafW^`PfbQ \f[eUfdbF^\f^KZF``d^[LF^eOOfe^`PF][`Z]fTe Se[d`aM^\f^Sd_XZ`e_F^FTFbaZe`f^dSSF_aF^fb eZXFbadR c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^fb^XfQ ]Z_e^bdb^fbSF_fd_F^e`^\F[fXd^\F`^Y_FUUd Y_dYd]adW^ e^ YFbe^ \f^ fbFSSf[e[feR^ 9Faae ]dXXe^]e_M^a_eaaFbZae^fb^[e]d^\f^_fSfZad \F``Pe[KZf]ad^XFba_FW^fb^[e]d^\f^Xeb[eae eVVfZ\f[eUfdbFW^]e_M^_F]afaZfae^fXXF\feQ aeXFbaFR c Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``PdSSF_ae^Yf& e`aeW^ e^ bd_Xe^ \F``Pe_aR^ ?74^ [RYR[R^ F\^ f` OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\f[ead e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf&^e`adR c DPeVVfZ\f[eUfdbF^]e_M^\f^_FVd`e^\FSfbfQ afTeW^bdb^F]]Fb\d^eXXF]]dW^bF``F^TFbQ \faF^]FbUe^fb[ebadW^`F^dSSF_aF^fb^eZXFbad \f^[Zf^e``Pe_aR^?:/^[RYR[RR c De^Te`f\faM^F^`PFSSf[e[fe^\F``PdSSF_ae^\Pe[Q KZf]ad^;^_FVd`eae^\e``Pe_aR^?7HW^[dXXe^NNW [RYR[RR c DPdSSF_ae^ ;^ f__FTd[eOf`F^ YF_^ H>A^ Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbFW^ef^]Fb]f^\F`Q `Pe_aR^?7HW^[dXXe^NNNW^[RYR[RR c DF^ Xd\e`faM^ \f^ TFb\fae^ ]FbUe^ fb[ebad ]dbd^_FVd`eaF^\eV`f^e_aaR^?7>^F^]FVZFbaf [RYR[RR ,JE@B^JDDJ^5GE9N@J^^CBE^NECJE@B c J^ bd_Xe^ \F``Pe_aR^ ?76^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Se_F^dSQ SF_aF^ e``Pfb[ebadW^ YF_]dbe`XFbaF^ d\^ e XFUUd^ \f^ Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e bd_Xe^ \F``Pe_aR^ ?76W^ Z`afXd^ [dXXeW [RYR[RR^ N`^ Y_d[Z_ead_F^ `FVe`F^ \dT_MW^ fb dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f^ Xeb\ead ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^ Y_fTeae^ eZaFbaf[eaeW^ bdb^ F]Q ]Fb\d^ ]ZSSf[fFbaF^ `Pd_\fbe_fd^ Xeb\ead e``F^`fafR^EF``PfYdaF]f^\f^[Zf^e`^]Z[[faead^e_aR ?76W^[dXXe^NNNW^[RYR[RW^f`^Xeb\ead^]YFQ [fe`F^_f]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faQ aZ_e^ Y_fTeae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^NW^[RYR[RR b 8fg]cUe`]fg]dgXea^fZdXeRdc`fge__9d`L Ze`^cg]cJae``cgfYYfafgXafYf`^e^fgd` OVY^eg Z3dVYeg f`^acg _fg cafg TQg ]f_ Pdca`cgSGg]dZfUOafgSWTS\g c DF^]aF]]F^\dT_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^\e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f ZSSf[fdR^ c EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ c =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ

]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead F^ `e^ \eae^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadR c DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR c DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^ `ZdVd^ Sf]]eaf^ YF_^ `Pfb[ebadW^ e``e^ Y_FQ ]FbUe^\FV`f^dSSF_FbafW^dTF^[dXYe_]fR c DPdSSF_FbaF^\FTF^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe) c `Pfb\f[eUfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e Y_d[F\Z_eR^ c f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^ e`^ Y_FUUd^ e^ Oe]F^ \Pe]ae^ fb\fQ [ead^ bF``PeTTf]d^ \f^ TFb\fae^ e^ YFbe^ \f fbFSSf[e[feR c `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^_fSF_f][F^`Pf]aebUe^\f^Ye_aF[fYeUfdbFR c `F^ VFbF_e`faM^ \F`^ [db[d__FbaF^ 8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdQ bf[dW^ ]aead^ [fTf`F<^ FW^ ]F^ [dbfZVeadW _FVfXF^Yea_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb [dXZbfdbF^ `FVe`F^ \Ff^ OFbfW^ e`a_F] bdXFW^ [dVbdXFW^ `ZdVd^ F^ \eae^ \f^ beQ ][faeW^[d\f[F^Sf][e`F^F^_F]f\FbUe^\F`^[dQ bfZVF^ 8e`^ SfbF^ \f^ YdaF_F^ a_e]SF_f_F^ e\ Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d^\f eVVfZ\f[eUfdbF<W^d`a_F^e^[dYfe^\f^Te`f\d \d[ZXFbad^\f^f\FbafaM^Y_dY_fd^8F\^eb[LF \F`^[dbfZVFW^]F^;^fb^[dXZbfdbF^`FVe`F<R Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^ `Pf]aebUe^ \f^ Ye_aF[fYeUfdbF^ F\ fbd`a_F^`PdSSF_FbaF^\dT_M^Y_F]Fbae_]f^e`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadR^ =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `e \dXeb\e^ \f^ Ye_aF[fYeUfdbF^ \dT_M^ F]Q ]F_F^]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZQ ad_fUUeUfdbF^ \F`^ VfZ\f[F^ aZaF`e_FR Ze`d_e^`e^YF_]dbe^Sf]f[e^\dTF]]F^Ye_Q aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdbfXe \faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fb\f[eae eb[LF^ `e^ Ye_afae^ N5J^ F\^ e``e^ \dXeb\e \dT_M^e``FVe_]f^Zbe^_F[FbaF^Tf]Z_e^[eQ XF_e`F^\F``e^\faae^]aF]]eR^=F^]d[fFaM^dYQ YZ_F^ FbaFW^ d[[d__F^ ]YF[fSf[e_bF^ f^ \eaf f\FbafSf[eafTfW^ fb[`Z]e^ `e^ Ye_afae^ N5J^ F2d [d\f[F^ Sf][e`FW^ f`^ _F[eYfad^ ^ aF`FSdbf[d bdb[L'^bdXFW^[dVbdXFW^`ZdVd^F^\eae \f^ be][fae^ \F`^ `FVe`F^ _eYY_F]FbaebaFR J``e^\dXeb\e^\dT_ebbd^F]]F_FW^fbd`a_FW e``FVeafW^]fe^Zbe^_F[FbaF^Tf]Z_e^[eXFQ _e`F^\F``e^]d[fFaM^d^FbaF^\e``e^KZe`F^_fQ ]Z`af^ `d^ ]aead^ \F``e^ ]d[fFaM^ d^ FbaF XF\F]fXd^F\^f^YdaF_f^[dbSF_faf^e``PdSSFQ _FbaF^fb^Z\fFbUeW^]fe^[dYfe^Sdad]aeaf[e^\f Zb^Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaF^XF\F]fXd^FW^]F^bF[F]]e_fdW^TeQ `f\e^ \d[ZXFbaeUfdbF^ [dXY_dTebaF^ f _F`eafTf^ YdaF_f^ F2d^ `e^ _F`eafTe^ `FVfaafXeQ UfdbF^8e\^F]RW^Y_d[Z_e^]YF[fe`F<R^Nb^[e]d \f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e^Yf&^]dVQ VFaafW^`Pfb\f[eUfdbF^\f^KZF``d^[LF^eOOfe `PF][`Z]fTe^Se[d`aM^\f^Sd_XZ`e_F^FTFbaZe`f dSSF_aF^fb^eZXFbadR c c`PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``Pf]aebUe^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^\f^fXQ Yd_ad^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd Yd]ad^e^Oe]F^\Pe]aeW^e^YFbe^\f^fbFSSf[eQ [fe^ F\^ fb^ [dbad^ Y_FUUd^ \f^ eVVfZ\f[eQ UfdbFR^ .F_^ dSS_f_F^ e``Pfb[ebadW^ ; bF[F]]e_fd^ eTF_F^ Y_F]aead^ `e^ Y_F\Faae [eZUfdbFR^=F^`PdSSF_FbaF^bdb^\fTfFbF^eVQ VfZ\f[eae_fdW^`e^[eZUfdbF^;^fXXF\feaeQ XFbaF^ _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e \F``Pfb[ebadW^ ]e`Td^ [LF^ `d^ ]aF]]d^ bdb eOOfe^dXF]]d^\f^Ye_aF[fYe_F^e``Pfb[ebad XF\F]fXd^YF_]dbe`XFbaF^d\^e^XFUUd \f^ Y_d[Z_ead_F^ ]YF[fe`F^ ]FbUe^ \d[ZQ XFbaead^ F^ VfZ]afSf[ead^ XdafTdR^ Nb^ ae` [e]dW^`e^[eZUfdbF^'^_F]afaZfae^]d`d^bF``e Xf]Z_e^\f^62HA^\F``PfbaF_d^F^`e^_F]aebaF Ye_aF^;^a_eaaFbZae^[dXF^]dXXe^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR c DPdSSF_ae^bdb^;^FSSf[e[F^]F^bdb^]ZYF_e f`^ Y_FUUd^ Oe]F^ d^ `PdSSF_ae^ Y_F[F\FbaF bF``e^Xf]Z_e^XfbfXe^]dY_e^fb\f[eaeR c DF^Xd\e`faM^\f^TFb\fae^e``Pfb[ebad^]dbd _FVd`eaF^\eV`f^e_aaR^?:H^F^]FVVR^[RYR[RR B((G1@G^NE^J,+GE@B^9N^,E^ ,NE@B c J^ bd_Xe^ \F``Pe_aR^ ?:/^ [RYR[W^ eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\Pe[KZf]ad^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^\f^\fF[f^Vfd_bf^\e``Pfb[ebad^]aF]]dW Xe^F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd dSSF_ad^bdb^]ZYF_e^\f^Zb^KZfbad^KZF``d


_eVVfZbad^bF``Pfb[ebad^XF\F]fXdR c .F_aebadW^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^ \F[d_]f^ \fF[f^ Vfd_bf^ \e``Pfb[ebad ]FbUe^dSSF_aF^fb^eZXFbadR^ c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^bF``F^Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW Y_F]aeb\d^ [eZUfdbF^ YF_^ Zbe^ ]dXXe Ye_f^ e`^ \dYYfd^ \F``e^ [eZUfdbF^ TF_]eae YF_^`e^Ye_aF[fYeUfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aF fb^eZXFbadW^TF__M^fb\Faae^Zbe^Ve_e^]FQ [db\d^ `F^ Y_FTf]fdbf^ \f^ [Zf^ e``Pe_aR^ ?:/ [RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^NNNW^[RYR[RW^`PeVVfZQ \f[eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feaeW^e^[e_f[d^\FV`f^dSSF_FbafW^]e`Td [LF^_f[d__e^Zb^\d[ZXFbaead^F^ VfZ]afSfQ [ead^XdafTdW^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^fXYd_ad^]e_M^a_eaaFbZad^[dXF^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PF]F[ZUfdbFR c =f^]YF[fSf[e^[LF^aZaaF^`F^eaafTfaM^[LFW^ef ]Fb]f^\F``Pe_a^?7H^[RYR[R^F^]FVVR^[RYR[R \FTdbd^F]]F_F^[dXYfZaF^fb^[eb[F``F_fe d^\eTebaf^e`^0fZ\f[F^\F``PF]F[ZUfdbF^dYQ YZ_F^\e`^[eb[F``fF_F^d^\e`^0fZ\f[F^\F`Q `PF]F[ZUfdbFW^ ]dbd^ F]FVZfaF^ \e` Y_dSF]]fdbf]ae^ \F`FVead^ Y_F]]d^ f`^ ]Zd ]aZ\fdR c N`^Y_F]FbaF^eTTf]d^TF__M^YZOO`f[ead^XFQ \febaF^eSSf]]fdbF^e``PJ`Od^\F`^@_fOZbe`F^\f DeXFUfe^ @F_XFW^ ]Zf^ ]faf^ fbaF_bFa !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^ F^ !!!Re]aFRFZQ VFbfZ]RfaW^ ]Z`^ KZdaf\febd^ `d[e`F^ NN^ 9dQ Xebf^ \F``e^ Ce`eO_fe^ F^ ]Zf^ YF_fd\f[f J]aFNbSdeYYe`af^F^ ZfG[dbdXfeR c @_e^`PeTTFbZae^YZOO`f[faM^\f^[Zf^]dY_e^F `e^TFb\fae^]FbUe^fb[ebad^\dT_M^\F[d_Q _F_F^Zb^aF_XfbF^bdb^fbSF_fd_F^e^/?^Vfd_bfR c N`^Yf&^\f`fVFbaF^\Ff^[_F\fad_fW^XZbfad^\f^afQ ad`d^F]F[ZafTdW^Yda_M^_Fb\F_F^bdad^f`^Y_FQ ]FbaF^ eTTf]dW^ e^ ]Ze^ [Z_e^ F^ ]YF]FW XF\febaF^ eSSf]]fdbF^ XZ_e_feW^ \e^ FSSFaQ aZe_]f^bFf^[dXZbf^\f^DeXFUfe^@F_XF^F\ fb^KZF``d^\f^ZOf[eUfdbF^\F``PfXXdOf`FW^e`Q XFbd^/?^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``Pfb[ebadR^Nbd`a_FW^[fe][Zbd^\Ff^[_F\fQ ad_f^XZbfaf^\f^afad`d^F]F[ZafTd^;^eZad_fUQ UeadW^ e^ ]ZF^ ]YF]FW^ bdb^ _fXOd_]eOf`f bFYYZ_F^F"^e_aR^>77A^[R^[RW^e``PZ`aF_fd_F Sd_Xe^\f^YZOO`f[faM^\e^`Zf^FTFbaZe`XFbaF _f[LfF]aeW^\e^F]FVZf_]f^e`XFbd^/?^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^ dSSF_aF^ d^ \F``e^ \eae^ \F``Pfb[ebadR @e`f^ Sd_XF^ Z`aF_fd_f^ \f^ YZOO`f[faM^ ]dbd ]aeaF^\f[Lfe_eaF^\e`^0R^GR^bdb^bF[F]]eQ _fF^ef^Sfbf^\F``PF]YF_fOf`faM^\F``e^TFb\faeR^^^ c =f^eTTF_aFW^fbSfbFW^[LF^f`^Y_dSF]]fdbf]ae \F`FVead^;^VfM^]aead^eZad_fUUead^\e`^0R GRW^dTF^`e^[F`FO_eUfdbF^\F``Pfb[ebad^bdb eOOfe^`ZdVdW^YF_^KZe`ZbKZF^XdafTdW^e``e \eae^]dY_e^]aeOf`faeW^e\^eYY`f[e_F^fXXFQ \feaeXFbaFW^^d]]fe^e^ae`F^]aF]]e^\eaeW `Pe_aR^?6H^[RYR[RW^]FbUe^e`[Zb^_fbTfd^fbaF_Q XF\fd^F2d^Z`aF_fd_F^F\^fb^KZF``d^]aF]]d [dbaF]ad^ YdaFb\d^ Y_dTTF\F_FW^ ]F^ \F` [e]dW^e^\f]Yd__F^`PeXXfbf]a_eUfdbF^VfZQ \fUfe_feR c +eVVfd_f^fbSd_XeUfdbf^TF__ebbd^Sd_bfaF \e`^ Y_dSF]]fdbf]ae^ \F`FVeadW^ Y_F]]d^ f` Y_dY_fd^ ]aZ\fdW^ e``Pfb\f_fUUd^ ]dY_e^ fb\fQ [eadR^ DeXFUfe^@F_XFW^>4RHAR>AH> d_gXacNfYYdc`dY^eg]f_fPe^c 8 *; 685$91$8; 21'68$8 CCCCC J55N=B^9N^5GE9N@J 0acZf]VaegfYfZV^dJeg dUUcOd_deafg`\gHFBSWWHg6\g>\g 8bdXfbeafTf^dXF]]f^F"^e_aR^H7/^ \F`^9R^DV]R^bR^H6-2>AA4< NN^Y_dSF]]fdbf]ae^\F`FVead 8 *; 685$91$8; 21'68$8 ; [db^]aZ\fd^fb^DeXFUfe^@F_XF^8C%<W^ 5fe^0e_fOe`\f^bR^4W bF``e^Y_d[F\Z_e^F]F[ZafTe fb\f[eae^fb^FYfV_eSF Tf]ad^f`^Y_dTTF\fXFbad^\f^\F`FVeW^F"^e_aR^?6H Of]^[RYR[RW^\F``F^dYF_eUfdbf^\f^TFb\faeW^FXF]]d \e`^0fZ\f[F^\F``PF]F[ZUfdbF^\F`^@_fOZbe`F^\f DeXFUfe^@F_XF^fb^\eae^7R4R>AA: Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae HHR-R>AA6^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e Y_d_dVe^ \F`^ aF_XfbF^ Sfbe`F^ \f^ [dXYfXFbad \F``F^eaafTfaM^\F`FVeaF^e``e^][_fTFbaF^]fbd^e` 4AR?R>AHA^ Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae H7R?R>AHA^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e

Y_d_dVe^ \F`^ aF_XfbF^ Sfbe`F^ \f^ [dXYfXFbad \F``F^eaafTfaM^\F`FVeaF^e``e^][_fTFbaF^]fbd^e` 4AR4R>AHH^ Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae 4R>R>AHH^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e^Y_dQ _dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfXFbad^\F``F eaafTfaM^ \F`FVeaF^ e``e^ ][_fTFbaF^ ]fbd^ e` 4ARHR>AH>^ Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^0R^GR^fb^\eae 6R>R>AH>^[db^f`^KZe`F^;^]aeae^[db[F]]e^`e^Y_dQ _dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfXFbad^\F``F eaafTfaM^ \F`FVeaF^ e``e^ ][_fTFbaF^ ]fbd^ e` 4HRH>R>AH>^ Tf]ad^f`^Y_dTTF\fXFbad^\F`^>-RHR>AA6^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^bF`^Y_dTTF\fXFbad^\f^\F`FVe^ Tf]ad^f`^Y_dTTF\fXFbad^\F`^H6RHAR>AA6^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF Tf]ad^ f`^ Y_dTTF\fXFbad^ \F`^ 4R:R>AHA^ [db^ f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF^ Tf]ad^ f`^ Y_dTTF\fXFbad^ \F`^ 4R>R>AHH^ [db^ f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF^ Tf]ad^f`^Y_dTTF\fXFbad^\F`^H-RHAR>AH>^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF^ ][fd`ae^`e^_f]F_Te^Y_F]e^fb^\eae^>:R6R>AH> _faFbZad^ bF[F]]e_fd^ Sf]]e_F^ `e^ TFb\fae^ \F` OFbF^YfVbd_ead^ Tf]ad^`Pe_aR^?-6^[RYR[R J55N=J [LF^ bF``e^ \eae^ F^ bF`^ `ZdVd^ ]daad^ fb\f[eaf^ ]f aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F`^]FVZFbaF OFbF^fXXdOf`F) -3003; (" 3 EcUX_fYYcg dUUcOd_deaf Zc`g]fY^d`eRdc`fgePad^VadY^dZege_OfaL P3dfae[g]dgafZf`^fgZcY^aVRdc`f[gafe_dRL Re^egd`gY^aV^^VafgXca^e`^dgd`gZfUf`^c eaUe^c[gYc_edgd`g_e^facLZfUf`^c[gUVL ae^VaegfY^fa`egf]gd`^fa`egd`gUe^^c`d Ncae^d\g6dNd`d^VafgfY^fa`fgf]gd`^fa`fgd` Ue^fade_fg]dgc^^dUeg?Ve_d^=gfgUe`dNe^L ^Vae[gZc`gPdea]d`cgfY^fa`cgeaaf]e^cgf Zcaaf]e^cg ]dg XdYZd`e[g XcY^dg eV^cg f Xde`^VUeRdc`fgegJfa]f\gA_gZcUX_fYYc fYXc`fg ^eaPeg XVOO_dZd^eadeg Zc`g K Y^f__f[g3egV`egYVXfaNdZdfgZcUX_fYYdJe ]dgU?\gS\WFWgfgYdgYJd_VXXegYVgKg_dJf__d\ @_gXde`cgYfUd`^faae^c[gYVgV`egYVXfaL NdZdfg_ca]eg]dgU?\gMQW[gYc`cge__cZe^dgd YfaJdRdg Xad`ZdXe_dg 2Zf`^ae_fg ^faUdZe[ Zf__fgNadPcadNfaf[gPaVXXcgf_f^^acPf`c[ _eJe`]fade[gZVZd`e[gYXcP_de^cd[gYfaJdRd dPdf`dZdg ]f_g XfaYc`e_f[g Zf`^ae_fg eade Zc`]dRdc`e^e5gf]gV`g_cZe_fg^eJfa`f^^e\ @_gXde`cg^faae[gYVgV`egYVXfaNdZdfg_ca]e ]dgU?\gGQW[g^acJeYdg_eg3e__gZc`ge`Pc_c Oea[gV`egYe_eg]dge^^fYe[g_egafZfX^dc`[ _9VNNdZdc[g]VfgYe_fgadY^cae`^f[g]dYdUXfL P`dgfgYfaJdRdgJeadg`c`Z3 gV`gXca^dZc ]dg ZdaZeg U?\g GW\g@_g XadUcg Xde`c[g YV V`egYVXfaNdZdfg_ca]egZcXfa^eg]dgU?\ KWW[g Yc`cg e__cZe^fg TWg ZeUfaf[g ZdeL YZV`egZc`gOeP`cgfgOe_Zc`f[gYXcP_deL ^cdgfgYfaJdRdgXfagd_gXfaYc`e_f[g`c`Z3 V`g^faaeRRcg]dgZdaZegU?\gKW\g@_gXde`c YfZc`]cLYc^^c^f^^c[gYVgV`egYVXfaNdZdf ]dg U?\g SGW[g Yc`cg e__cZe^dg dg _cZe_dg ]d YPcUOfacgfg]dge__cPPdcg]f_gXfaYc`e_f `c`Z3 gV`g^faaeRRcgeXfa^cg]dgU?\gKW ZdaZe\gA_gZcUX_fYYcgdUUcOd_deafgPc]f ]dgV`egUeP`dNdZegJdY^egXe`caeUdZeg]d ^dXcgZc__d`eafgf]g-gYd^Ve^eg`f_gJfa]f[ YcXaege]gV`egZc__d`f^^e[gegXcZ3dg U ]e_g Zf`^acg eOd^e^c[g NeZd_Uf`^fg aePL PdV`PdOd_f\g gXcY^egd`gEVad`Peg2E&5gf] -g Zf`Yd^eg e_g Ee^eY^cg ]dg YdNNe^^cg EcL UV`fge_gNcP_dcg]dgUeXXegMH[gXea^dZf__e QQS[gYVOgM[gXde`cg1Tg g;g gT7gLgS7[gZeL ^fPcadeg)S\g89cXfaegadYV_^egafe_dRRe^e YfZc`]cg dg Jeadg XacPf^^dg e__fPe^dg Yde e__egZc`ZfYYdc`fgf]d_dRdegZ3fge__fgYVZL ZfYYdJfgJeade`^dgfg`c`gZdgYc`cg]egYfL P`e_eafg daafPc_ead^=g ]dg `e^Vae f]d_dRdeLVaOe`dY^dZe\gA_gEcUV`fg]dgEVL ad`Peg 2E&5[g JfadNdZe^eg _eg Zc`NcaUd^= ]f__9cXfaegafe_dRRe^e[g3egad_eYZde^c[gd` ]e^egTM\TT\SWWM[gd_gZfa^dNdZe^cg]dgePdOdL _d^=g Xfag e^^dJd^=g ePad^VadY^dZeg e_OfaL P3dfae\ #6944:;.819 <gFQI\TWI[QFg8GZ_d^daad[FbadQ a_FbaebdTFXf`e^[FbadbdTF24:<R^ c N`^OFbF^\f^[Zf^]dY_e^_f]Z`ae^XFV`fd^\FQ ][_faad^bF``e^_F`eUfdbF^\f^]afXe^e^Sf_Xe \F`^VFdXR^(_eb[F][d^=V_ ^[LF^\FTF^F]Q

]F_F^[db]Z`aeae^\e``Pe[KZf_FbaF^F\^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _fbTfd^ eb[LF^ YF_ aZaad^ [f ^ [LF^ [db[F_bF^ `PF]f]aFbUe^ \f FTFbaZe`f^dbF_fW^YF]f^bdb[L'^\fSSd_XfaM F\f`fUfF^F\^Z_Oebf]af[LF^e^KZe`]fe]f^afad`d V_eTebaf^]Z`^OFbF^]aF]]dR^ c De^ _F`eUfdbF^ ;^ [db]Z`aeOf`F^ Y_F]]d^ `d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^\e` `ZbF\ ^e`^TFbF_\ W^\e``F^d_F^H-WAA^e``F d_F^H:WAAW^Y_FTfd^eYYZbaeXFbad^aF`FSdQ bf[d^ F\^ e`a_F] ^ ]Zf^ ]faf^ fbaF_bFa !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^ F^ !!!Re]aFRFZQ VFbfZ]RfaR^ b )e^eg fYeUfg cNNfa^f,g STg ]dZfUOaf SWTS[gcafgTH[WWgfgYfPP\\ c DZdVd^F]eXF^dSSF_aF)^]aZ\fd^\F`^Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^Se" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^eTTRS_eb[F][eXf]Z_e[ af][e`fRfa J55N=J^JD@1G= [LF^bF``PfYdaF]f^fb^[Zf) c bdb^]febd^Y_dYd]aF^dSSF_aF^\Pe[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadR c `F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RR c ]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^NNNW^[RYR[RR c `e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFR c eT_M^`ZdVd^`e^TFb\fae^[db^fb[ebad^\F` XF\F]fXd^OFbF^bF``e^]FVZFbaF^\eae^F `ZdVd)^ -3003; (" 3 [dXF^]dY_e\F][_faad #6944:;.819 <gFQI\TWI[QF 8GZ_d^daad[FbadQ a_FbaebdTFXf`e^[FbadbdTF24:<R^ 2)85$2:;&252&:;<gKS\WWW[WW 8GZ_d^KZe_ebQ ae\ZFXf`e2AA<R b )e^eg]f__9d`Ze`^cgSFg]dZfUOafgSWTS[ cafgTH[WWgfgYfPP\ c DZdVd^ \F``Pfb[ebad)^ ]aZ\fd^ \F`^ Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^Se" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^eTTRS_eb[F][eXf]Z_e[ af][e`fRfa c Nb^ae`F^Z`afXe^Z\fFbUeW^e^\fSSF_FbUe^\F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f`^OFbFW^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUd^Oe]FW^fb^Xf]Z_e^bdb^fbSF_fd_F e`^ XfbfXd^ ]dY_e^ fb\f[eadW^ e^ YFbe^ \f fbeXXf]]fOf`faMR^ c =f^eTTf]e^fb^dVbf^[e]d^[LF) c `e^TFb\fae^\F`^OFbF^eTTfFbF^bF``d^]aead \f^Seaad^F^\f^\f_faad^fb^[Zf^f`^OFbF^XF\FQ ]fXd^]f^a_dTeW^[d] ^[dXF^f\FbafSf[eadW^\FQ ][_faad^ F^ Te`Zaead^ \e``PF]YF_ad^ bF``e _F`eUfdbFW^ ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_ FTfUfdbFW^Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f [db\Zaad_fW^[db^aZaaF^`F^YF_afbFbUFW^e[Q [F]]d_fW^_eVfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF F^Ye]]fTF^FTFbaZe`XFbaF^F]f]aFbafR^ c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_e^F\ FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^DPF]f]aFbUe \f^ FTFbaZe`f^ TfUfW^ Xeb[ebUe^ \f^ KZe`faM F2d^\fSSd_XfaM^\F``e^[d]e^TFb\Zae^bdbQ [L'^dbF_f^\f^KZe`]fe]f^VFbF_F^8fTf^fb[`Z]fW e\^ F]FXYfdW^ KZF``f^ Z_Oebf]af[f^ dTTF_d \F_fTebaf^ \e``e^ bF[F]]faM^ \f^ e\FVZeQ XFbad^\FV`f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F<^ YF_^ KZe`ZbKZF^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\F`^OFbFR^ c V`f^fbaF_F]]eaf^Yda_ebbd^F]eXfbe_F^`PfXQ XdOf`F^ Yd]ad^ fb^ TFb\fae^ Se[Fb\dbF^ _fQ [LfF]ae^][_faae^e`^[Z]ad\F^VfZ\fUfe_fd^eTTR (_eb[F][e^+f]Z_e[eW^[db^]aZ\fd^]fad^fb DeXFUfe^@F_XF^8C%<W^5fe^0e_fOe`\f^bR^4W 8aF`FSdbd^A6-:R>/4?4W^Se"^A6-:R//H?H-W [F``Z`e_F^44:R/A>A6-:W^FQXef`^eTTRS_ebQ [F][eXf]Z_e[ af][e`fRfa<^[LFW^Y_FTfd^eYQ YZbaeXFbad^ \e^ [db[d_\e_]f^ eb[LF aF`FSdbf[eXFbaFW^Y_dTTF\F_M^e\^e[[dXQ YeVbe_F^V`f^fbaF_F]]eaf^XF\F]fXf^Y_F]]d `PfXXdOf`F^]Z\\FaadR^ c ^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^[\R^Y_dad[d``d^J*N^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fR c ^Yd]]fOf`F^[db]FVZf_FW^Y_F]]d^`d^]aZ\fd \F`^Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f`

c

c

c c

c

c

c

c

c

c

b

c c

c c

c

c

c

]fad^J*NW^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf e``PfbfUfeafTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe @F_XF)^]f^fbTfaebd^V`f^dSSF_Fbaf^e^[dbaeaQ ae_F^\f_FaaeXFbaF^`F^]F\f^\F``F^eVFbUfF d^Sf`fe`f^fb[e_f[eaF^\e``F^Oeb[LF^]aF]]FW \F``F^KZe`f^]e_M^\f]YdbfOf`F^eb[LF^f`^_FQ [eYfad^aF`FSdbf[dW^^Y_F]]d^`d^]aZ\fd^\F` Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f`^]fad J*NR N`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUd^bdb[L'^\f^Z`aF_fd_f^dbF_fW^\f_faaf^F ]YF]F^ [db]FVZFbaf^ e``e^ TFb\fae^ [dXF KZebafSf[eaf^\e`^Y_dSF]]fdbf]ae^\F`FVead ;^\f^-A^Vfd_bf^\e``e^\eae^\F``e^TFb\faeW XF\febaF^\FYd]fad^]Z^Zb^`fO_Faad^\f^\FQ Yd]fad^ Yd]ae`F^ d^ Oeb[e_fd^ bdXfbeafTdW fbaF]aead^e``e^Y_d[F\Z_e^F^Tfb[d`ead^e`Q `Pd_\fbF^\F`^0fZ\f[FW^VfM^e[[F]d^Y_F]]d Zb^f]afaZad^\f^[_F\fad^e^[Z_e^\F`^Y_dSF]Q ]fdbf]ae^\F`FVeadR Ze`d_e^f`^Y_d[F\fXFbad^]f^Oe]f^]Z^[_FQ \fad^Sdb\fe_fdW^e`^TF_]eXFbad^]Z^`fO_Faad ]e_M^]d]afaZfadW^ef^]Fb]f^F^YF_^V`f^FSSFaaf \F``Pe_aR^ /HW^ [dXXe^ N5W^ \F`^ 9R^ DV]R HR6RH664^ bR^ 4:?W^ f`^ YeVeXFbad^ \f_Faad e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F`^[_FQ \fad^eUfdbeadW^Fba_d^f`^aF_XfbF^]Zfb\f[ead F^ \Fa_eaad^ Zb^ FTFbaZe`F^ e[[ebadbeQ XFbad^YF_^]YF]F^\f^Y_d[F\Z_e^e^[e_f[d \F``e^ Xe]]eW^ bF``e^ Xf]Z_e^ [LF^ ]e_M KZebafSf[eae^\e`^Y_dSF]]fdbf]ae^\F`FVeadR Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR =d`d^e``PF]fad^\FV`f^e\FXYfXFbaf^]Z[[fQ aeaf^bdb[L'^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ ]fe^ [eae]ae`f^ [LF^ _F`eafTf e``F^f][_fUfdbf^F^a_e][_fUfdbf^FSSFaaZeaF^]Z` OFbF^TF__M^FXF]]d^f`^\F[_Fad^\f^a_e]SFQ _fXFbad^F"^e_aR^?:-^[RYR[RR DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ \F`^ OFbF ]dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^F^\FQ Tdbd^ F]]F_F^ TF_]eaF^ e`^ XdXFbad^ \F` \FYd]fad^\F``e^\fSSF_FbUe^\F`^Y_FUUd^\f eVVfZ\f[eUfdbFW^ bF``e^ Xf]Z_e^ Ye_f^ e` >A ^\f^KZF]aPZ`afXdR J``PeVVfZ\f[eae_fd^_F]aebd^_f]F_TeafW^e`Q a_F] W^f^[d]af^F^`F^eaafTfaM^YF_^`e^[eb[F``eQ UfdbF^ \F``F^ Sd_Xe`faM^ bdb[L'^ f^ _F`eafTf [dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdbf]ae^\FQ `FVead^YF_^`F^dYF_eUfdbf^]Z[[F]]fTF^e``e TFb\faeW^[dXF^`fKZf\eaf^\e`^0R^GRR Nb^eVVfZbae^e`^Y_FUUd^\f^eVVfZ\f[eUfdbFW ;^ e^ [e_f[d^ \F``PeVVfZ\f[eae_fd^ f`^ YeVeQ XFbad^\F``F^]dXXF^bF[F]]e_fF^YF_^`e ]ebead_fe^ \FV`f^ FTFbaZe`f^ eOZ]f^ 8FW KZfb\fW^KZF``F^]dXXF^\dTZaF^e^afad`d^\f dO`eUfdbFW^\f^[ebdbf^[db[F]]d_fW^Fa[R<R DPeVVfZ\f[eae_fd^\dT_M^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d\^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XF^8C%<R De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^\F``F^dSSF_aF^F^`F^[db\fUfdbf^\f^TFbQ \fae^]dbd^_FVd`eaF^[dXF^]FVZF) 5GE9N@J^=GE%J^NECJE@B J^ bd_Xe^ \F``Pe_aR^ ?7H^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Sd_XZQ `e_F^dSSF_aF^YF_^`Pe[KZf]ad^\F``PfXXdOf`F YfVbd_eadW^YF_]dbe`XFbaF^d\^e^XFUUd \f^ Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e^ bd_Xe \F``Pe_aR^?76W^Z`afXd^[dXXeW^[RYR[RR 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL Yfafg XafYf`^e^f[g d`g OVY^eg Z3dVYe[ f`^acg_fgcafgTQg]f_gPdca`cgSWg]dZfUL OafgSWTS\ DPdSSF_ae^;^fbFSSf[e[F^]F^YF_TfFbF^d`a_F ae`F^aF_XfbFR^^ DF^dSSF_aF^]aF]]F^\dT_ebbd^F]]F_F^Y_FQ ]FbaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadW^e``Pfb\f_fUUd^]Zfb\f[eadW \e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f^ZSSfQ [fdR^ EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ ]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead F^`e^\eae^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFR DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^`ZdVd^Sf]]eaf^YF_^`PF]eXF^\F``F^dSSF_aFW e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF^[dXQ Ye_]fR DPdSSF_FbaF^\FTF^Y_F]Fbae_FW^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe)


c `Pfb\f[eUfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e Y_d[F\Z_eR^ c f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^e`^Y_FUUd^XfbfXd^fb\f[ead^bF`Q `PeTTf]d^\f^TFb\fae^e^YFbe^\f^fbFSSf[e[feR c `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^ _fSF_f][F^ `PdSSF_ae^ F\^ dVbf^ e`a_d^ F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\f^KZF]aeR c `F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdbf[dW ]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF^YeQ a_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb^[dXZQ bfdbF^ `FVe`F^ \Ff^ OFbfW^ e`a_F] ^ bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^ Sf][e`F^ F^ _F]f\FbUe^ \F`^ [dbfZVF<W d`a_F^ e^ [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f f\FbafaM^Y_dY_fd^F\^eb[LF^\F`^[dbfZVF^]F ;^fb^[dXZbfdbF^`FVe`FR^Edb^]e_M^Yd]]fQ Of`F^fbaF]ae_F^`PfXXdOf`F^e^]dVVFaad^\fQ TF_]d^\e^KZF``d^[LF^]daad][_fTF^`PdSSF_ae F\^fbd`a_F^`PdSSF_FbaF^\dT_M^Y_F]Fbae_]f e``PZ\fFbUe^Sf]]eae^YF_^`e^TFb\fae^]FbUe fb[ebadR^ c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_fW Y_FTfe^eZad_fUUeUfdbF^\F`^VfZ\f[F^aZaFQ `e_FR^ Ze`d_e^`e^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^eb[LF^`e^Ye_afae^N5J^F\^e``PdSSF_ae \dT_M^e``FVe_]f^Zbe^_F[FbaF^Tf]Z_e^[eQ XF_e`F^\F``e^\faae^]aF]]eR^=F^]d[fFaM^dYQ YZ_F^ FbaFW^ d[[d__F^ ]YF[fSf[e_bF^ f^ \eaf f\FbafSf[eafTfW^ fb[`Z]e^ `e^ Ye_afae^ N5J^ F2d [d\f[F^ Sf][e`FW^ f`^ _F[eYfad^ ^ aF`FSdbf[d bdb[L'^bdXFW^[dVbdXFW^`ZdVd^F^\eae \f^be][fae^\F`^`FVe`F^_eYY_F]FbaebaFR c J``e^\dXeb\e^\dT_ebbd^F]]F_FW^fbd`Q a_FW^e``FVeafW^]fe^Zbe^_F[FbaF^Tf]Z_e^[eQ XF_e`F^\F``e^]d[fFaM^d^FbaF^\e``e^KZe`F _f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF^XFQ \F]fXd^F\^f^YdaF_f^[dbSF_faf^e``PdSSF_FbaF fb^ Z\fFbUeW^ ]fe^ [dYfe^ Sdad]aeaf[e^ \f^ Zb Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM^ \F``PdSSFQ _FbaF^XF\F]fXd^FW^]F^bF[F]]e_fdW^TeQ `f\e^ \d[ZXFbaeUfdbF^ [dXY_dTebaF^ f _F`eafTf^ YdaF_f^ F2d^ `e^ _F`eafTe^ `FVfaafXeQ UfdbF^8e\^F]RW^Y_d[Z_e^]YF[fe`F<R^Nb^[e]d \f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e^Yf&^]dVQ VFaafW^`Pfb\f[eUfdbF^\f^KZF``d^[LF^eOOfe `PF][`Z]fTe^Se[d`aM^\f^Sd_XZ`e_F^FTFbaZe`f dSSF_aF^fb^eZXFbadR c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^fb^XfQ ]Z_e^bdb^fbSF_fd_F^e`^\F[fXd^\F`^Y_FUUd Y_dYd]adW^ e^ YFbe^ \f^ fbFSSf[e[feR^ 9Faae ]dXXe^]e_M^a_eaaFbZae^fb^[e]d^\f^_fSfZad \F``Pe[KZf]ad^XFba_FW^fb^[e]d^\f^Xeb[eae eVVfZ\f[eUfdbFW^]e_M^_F]afaZfae^fXXF\feQ aeXFbaFR c Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``PdSSF_ae^Yf& e`aeW^ e^ bd_Xe^ \F``Pe_aR^ ?74^ [RYR[R^ F\^ f` OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\f[ead e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf&^e`adR c DPeVVfZ\f[eUfdbF^]e_M^\f^_FVd`e^\FSfbfQ afTeW^bdb^F]]Fb\d^eXXF]]dW^bF``F^TFbQ \faF^]FbUe^fb[ebadW^`F^dSSF_aF^fb^eZXFbad \f^[Zf^e``Pe_aR^?:/^[RYR[RR c De^Te`f\faM^F^`PFSSf[e[fe^\F``PdSSF_ae^\Pe[Q KZf]ad^;^_FVd`eae^\e``Pe_aR^?7HW^[dXXe^NNW [RYR[RR c DPdSSF_ae^ ;^ f__FTd[eOf`F^ YF_^ H>A^ Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbFW^ef^]Fb]f^\F`Q `Pe_aR^?7HW^[dXXe^NNNW^[RYR[RR c DF^ Xd\e`faM^ \f^ TFb\fae^ ]FbUe^ fb[ebad ]dbd^_FVd`eaF^\eV`f^e_aaR^?7>^F^]FVZFbaf [RYR[RR 5GE9N@J^CBE^NECJE@B c J^ bd_Xe^ \F``Pe_aR^ ?76^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Se_F^dSQ SF_aF^ e``Pfb[ebadW^ YF_]dbe`XFbaF^ d\^ e XFUUd^ \f^ Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e bd_Xe^ \F``Pe_aR^ ?76W^ Z`afXd^ [dXXeW [RYR[RR b 8fg]cUe`]fg]dgXea^fZdXeRdc`fge__9d`L Ze`^cg]cJae``cgfYYfafgXafYf`^e^fgd` OVY^eg Z3dVYeg f`^acg _fg cafg TQg ]f_ Pdca`cgSGg]dZfUOafgSWTS\g c DF^]aF]]F^\dT_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^\e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f ZSSf[fdR^ c EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ c =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ ]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead

F^ `e^ \eae^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadR c DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR c DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^ `ZdVd^ Sf]]eaf^ YF_^ `Pfb[ebadW^ e``e^ Y_FQ ]FbUe^\FV`f^dSSF_FbafW^dTF^[dXYe_]fR c DPdSSF_FbaF^\FTF^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe) c `Pfb\f[eUfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e Y_d[F\Z_eR^ c f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^ e`^ Y_FUUd^ e^ Oe]F^ \Pe]ae^ fb\fQ [ead^ bF``PeTTf]d^ \f^ TFb\fae^ e^ YFbe^ \f fbFSSf[e[feR c `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^_fSF_f][F^`Pf]aebUe^\f^Ye_aF[fYeUfdbFR c `F^ VFbF_e`faM^ \F`^ [db[d__FbaF^ 8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdQ bf[dW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb^[dXZQ bfdbF^`FVe`F^\Ff^OFbfW^e`a_F] ^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`F^F^_F]f\FbUe^\F`^[dbfZVF<W^d`a_F^e [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM Y_dY_fd^F\^eb[LF^\F`^[dbfZVF^]F^;^fb^[dQ XZbfdbF^`FVe`FR^Edb^]e_M^Yd]]fOf`F^fbQ aF]ae_F^`PfXXdOf`F^e^]dVVFaad^\fTF_]d^\e KZF``d^[LF^]daad][_fTF^`Pf]aebUe^\f^Ye_aFQ [fYeUfdbF^ F\^ fbd`a_F^ `PdSSF_FbaF^ \dT_M Y_F]Fbae_]f^ e``PZ\fFbUe^ Sf]]eae^ YF_^ `e TFb\fae^e``Pfb[ebadR^ c =F^`PdSSF_FbaF^;^Xfbd_FbbFW^`e^\dXeb\e \f^ Ye_aF[fYeUfdbF^ \dT_M^ F]]F_F^ ]daadQ ][_faae^ \ef^ VFbfad_fW^ Y_FTfe^ eZad_fUUeQ UfdbF^ \F`^ VfZ\f[F^ aZaF`e_FR^ Ze`d_e^ `e YF_]dbe^ Sf]f[e^ \dTF]]F^ Ye_aF[fYe_F^ fb KZe`faM^\f^afad`e_F^\f^dXdbfXe^\faae^fb\fQ Tf\Ze`FW^\dT_M^F]]F_F^fb\f[eae^eb[LF^`e Ye_afae^N5J^F\^e``e^\dXeb\e^\dT_M^e``FQ Ve_]f^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^\F``e \faae^]aF]]eR^ c =F^]d[fFaM^dYYZ_F^FbaFW^d[[d__F^]YF[fQ Sf[e_bF^f^\eaf^f\FbafSf[eafTfW^fb[`Z]e^`e^Ye_Q afae^ N5J^ F2d^ [d\f[F^ Sf][e`FW^ f`^ _F[eYfad aF`FSdbf[d^ bdb[L'^ bdXFW^ [dVbdXFW `ZdVd^F^\eae^\f^be][fae^\F`^`FVe`F^_eYQ Y_F]FbaebaFR^ c J``e^\dXeb\e^\dT_ebbd^F]]F_FW^fbd`a_FW e``FVeafW^]fe^Zbe^_F[FbaF^Tf]Z_e^[eXFQ _e`F^\F``e^]d[fFaM^d^FbaF^\e``e^KZe`F^_fQ ]Z`af^ `d^ ]aead^ \F``e^ ]d[fFaM^ d^ FbaF XF\F]fXd^F\^f^YdaF_f^[dbSF_faf^e``PdSSFQ _FbaF^fb^Z\fFbUeW^]fe^[dYfe^Sdad]aeaf[e^\f Zb^Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaF^XF\F]fXd^FW^]F^bF[F]]e_fdW^TeQ `f\e^ \d[ZXFbaeUfdbF^ [dXY_dTebaF^ f _F`eafTf^ YdaF_f^ F2d^ `e^ _F`eafTe^ `FVfaafXeQ UfdbF^8e\^F]RW^Y_d[Z_e^]YF[fe`F<R^Nb^[e]d \f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e^Yf&^]dVQ VFaafW^`Pfb\f[eUfdbF^\f^KZF``d^[LF^eOOfe `PF][`Z]fTe^Se[d`aM^\f^Sd_XZ`e_F^FTFbaZe`f dSSF_aF^fb^eZXFbadR c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``Pf]aebUe^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^\f^fXQ Yd_ad^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd Yd]ad^e^Oe]F^\Pe]aeW^e^YFbe^\f^fbFSSf[eQ [fe^ F\^ fb^ [dbad^ Y_FUUd^ \f^ eVVfZ\f[eQ UfdbFR^ .F_^ dSS_f_F^ e``Pfb[ebadW^ ; bF[F]]e_fd^ eTF_F^ Y_F]aead^ `e^ Y_F\Faae [eZUfdbFR^=F^`PdSSF_FbaF^bdb^\fTfFbF^eVQ VfZ\f[eae_fdW^`e^[eZUfdbF^;^fXXF\feaeQ XFbaF^ _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e \F``Pfb[ebadW^ ]e`Td^ [LF^ `d^ ]aF]]d^ bdb eOOfe^dXF]]d^\f^Ye_aF[fYe_F^e``Pfb[ebad XF\F]fXd^YF_]dbe`XFbaF^d\^e^XFUUd \f^ Y_d[Z_ead_F^ ]YF[fe`F^ ]FbUe^ \d[ZQ XFbaead^ F^ VfZ]afSf[ead^ XdafTdR^ Nb^ ae` [e]dW^`e^[eZUfdbF^'^_F]afaZfae^]d`d^bF``e Xf]Z_e^\f^62HA^\F``PfbaF_d^F^`e^_F]aebaF Ye_aF^;^a_eaaFbZae^[dXF^]dXXe^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR c DPdSSF_ae^bdb^;^FSSf[e[F^]F^bdb^]ZYF_e f`^ Y_FUUd^ Oe]F^ d^ `PdSSF_ae^ Y_F[F\FbaF bF``e^Xf]Z_e^XfbfXe^]dY_e^fb\f[eaeR c DF^Xd\e`faM^\f^TFb\fae^e``Pfb[ebad^]dbd _FVd`eaF^\eV`f^e_aaR^?:H^F^]FVVR^[RYR[RR B((G1@G^NE^J,+GE@B^9N^,E^ ,NE@B c J^ bd_Xe^ \F``Pe_aR^ ?:/^ [RYR[W^ eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\Pe[KZf]ad^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^\f^\fF[f^Vfd_bf^\e``Pfb[ebadW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^\f^Zb^KZfbad^KZF``d^_eVVfZbad^bF`Q `Pfb[ebad^XF\F]fXdR c .F_aebadW^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^ \F[d_]f^ \fF[f^ Vfd_bf^ \e``Pfb[ebad

]FbUe^dSSF_aF^fb^eZXFbadR^ c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^bF``F^Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW Y_F]aeb\d^ [eZUfdbF^ YF_^ Zbe^ ]dXXe Ye_f^ e`^ \dYYfd^ \F``e^ [eZUfdbF^ TF_]eae YF_^`e^Ye_aF[fYeUfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aF fb^eZXFbadW^TF__M^fb\Faae^Zbe^Ve_e^]FQ [db\d^ `F^ Y_FTf]fdbf^ \f^ [Zf^ e``Pe_aR^ ?:/ [RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^NNNW^[RYR[RW^`PeVVfZQ \f[eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feaeW^e^[e_f[d^\FV`f^dSSF_FbafW^]e`Td [LF^_f[d__e^Zb^ \d[ZXFbaead^F^VfZ]afSfQ [ead^XdafTdW^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^fXYd_ad^]e_M^a_eaaFbZad^[dXF^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PF]F[ZUfdbFR c =f^]YF[fSf[e^[LF^aZaaF^`F^eaafTfaM^[LFW^ef ]Fb]f^\F``Pe_a^?7H^[RYR[R^F^]FVVR^[RYR[R \FTdbd^F]]F_F^[dXYfZaF^fb^[eb[F``F_fe d^\eTebaf^e`^0fZ\f[F^\F``PF]F[ZUfdbF^dYQ YZ_F^\e`^[eb[F``fF_F^d^\e`^0fZ\f[F^\F`Q `PF]F[ZUfdbFW^ ]dbd^ F]FVZfaF^ \e` Y_dSF]]fdbf]ae^ \F`FVead^ Y_F]]d^ f`^ ]Zd ]aZ\fdR c N`^Y_F]FbaF^eTTf]d^TF__M^YZOO`f[ead^XFQ \febaF^eSSf]]fdbF^e``PJ`Od^\F`^@_fOZbe`F^\f DeXFUfe^ @F_XFW^ ]Zf^ ]faf^ fbaF_bFa !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^ F^ !!!Re]aFRFZQ VFbfZ]RfaW^ ]Z`^ KZdaf\febd^ `d[e`F^ NN^ 9dQ Xebf^ \F``e^ Ce`eO_fe^ F^ ]Zf^ YF_fd\f[f J]aFNbSdeYYe`af^F^ ZfG[dbdXfeR c @_e^`PeTTFbZae^YZOO`f[faM^\f^[Zf^]dY_e^F `e^\eae^\F``Pfb[ebad^\dT_M^\F[d__F_F^Zb aF_XfbF^bdb^fbSF_fd_F^e^/?^Vfd_bfR c N`^Yf&^\f`fVFbaF^\Ff^[_F\fad_fW^XZbfad^\f^afQ ad`d^F]F[ZafTdW^Yda_M^_Fb\F_F^bdad^f`^Y_FQ ]FbaF^ eTTf]dW^ e^ ]Ze^ [Z_e^ F^ ]YF]FW XF\febaF^ eSSf]]fdbF^ XZ_e_feW^ \e^ FSSFaQ aZe_]f^bFf^[dXZbf^\f^DeXFUfe^@F_XF^F\ fb^KZF``d^\f^ZOf[eUfdbF^\F``PfXXdOf`FW^e`Q XFbd^/?^Vfd_bf^Y_fXe^\F``e^\eae^\F``PfbQ [ebadR^ Nbd`a_FW^ [fe][Zbd^ \Ff^ [_F\fad_f XZbfaf^\f^afad`d^F]F[ZafTd^;^eZad_fUUeadW e^]ZF^]YF]FW^bdb^_fXOd_]eOf`f^bFYYZ_F F"^e_aR^>77A^[R^[RW^e``PZ`aF_fd_F^Sd_Xe^\f YZOO`f[faM^\e^`Zf^FTFbaZe`XFbaF^_f[LfFQ ]aeW^\e^F]FVZf_]f^e`XFbd^/?^Vfd_bf^Y_fXe \F``e^\eae^\F``Pfb[ebadR^@e`f^Sd_XF^Z`aFQ _fd_f^\f^YZOO`f[faM^]dbd^]aeaF^\f[Lfe_eaF \e`^ 0R^ GR^ bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F`Q `PF]YF_fOf`faM^\F``e^TFb\faeR^^^ c =f^eTTF_aFW^fbSfbFW^[LF^f`^Y_dSF]]fdbf]ae \F`FVead^;^VfM^]aead^eZad_fUUead^\e`^0R GRW^dTF^`e^[F`FO_eUfdbF^\F``Pfb[ebad^bdb eOOfe^`ZdVdW^YF_^KZe`ZbKZF^XdafTdW^e``e \eae^]dY_e^]aeOf`faeW^e\^eYY`f[e_F^fXXFQ \feaeXFbaFW^^d]]fe^e^ae`F^]aF]]e^\eaeW `Pe_aR^?6H^[RYR[RW^]FbUe^e`[Zb^_fbTfd^fbaF_Q XF\fd^F2d^Z`aF_fd_F^F\^fb^KZF``d^]aF]]d [dbaF]ad^ YdaFb\d^ Y_dTTF\F_FW^ ]F^ \F` [e]dW^e^\f]Yd__F^`PeXXfbf]a_eUfdbF^VfZQ \fUfe_feR c +eVVfd_f^fbSd_XeUfdbf^TF__ebbd^Sd_bfaF \e`^ Y_dSF]]fdbf]ae^ \F`FVeadW^ Y_F]]d^ f` Y_dY_fd^ ]aZ\fdW^ e``Pfb\f_fUUd^ ]dY_e^ fb\fQ [eadR^ DeXFUfe^@F_XFW^>4RHAR>AH> d_gXacNfYYdc`dY^eg]f_fPe^c 8 *; 685$91$8; 21'68$8 CCCCC J55N=B^9N^5GE9N@J 0acZf]VaegfYfZV^dJeg dUUcOd_deafg`\gQWBSWWWg6\g>\g 8bdXfbeafTf^dXF]]f^F"^e_aR^H7/^ \F`^9R^DV]R^bR^H6-2>AA4< N`^Y_dSF]]fdbf]ae^\F`FVead^ 8 *; 685$91$8; 21'68$8 [db^]aZ\fd^fb^DeXFUfe^@F_XF^8C%<W^ 5fe^0e_fOe`\f^bR^4W^bF``e^Y_d[F\Z_e^ F]F[ZafTe^fb\f[eae^fb^FYfV_eSF Tf]ad^f`^Y_dTTF\fXFbad^\f^\F`FVeW^F"^e_aR^?6H Of]^[RYR[RW^\F``F^dYF_eUfdbf^\f^TFb\faeW^FXF]]d \e`^0fZ\f[F^\F``PF]F[ZUfdbF^\F`^@_fOZbe`F^\f DeXFUfe^@F_XF^fb^\eae^>AR4R>AA: Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^Y_F\Faad^0R^GR fb^ \eae^ >R7R>AA6^ [db^ f`^ KZe`F^ ;^ ]aeae^ [dbQ [F]]e^`e^Y_d_dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfQ XFbad^ \F``F^ eaafTfaM^ \F`FVeaF^ e``e^ ][_fTFbaF ]fbd^e`^4AR?R>AHA Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^Y_F\Faad^0R^GR fb^\eae^H7R?R>AHA^[db^f`^KZe`F^;^]aeae^[dbQ [F]]e^`e^Y_d_dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfQ XFbad^ \F``F^ eaafTfaM^ \F`FVeaF^ e``e^ ][_fTFbaF ]fbd^e`^4AR4R>AHH Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^Y_F\Faad^0R^GR fb^\eae^>R>R>AHH^[db^f`^KZe`F^;^]aeae^[db[F]]e `e^Y_d_dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfXFbad

\F``F^eaafTfaM^\F`FVeaF^e``e^][_fTFbaF^]fbd^e` 4ARHR>AH> Tf]ad^f`^Y_dTTF\fXFbad^_F]d^\e`^Y_F\Faad^0R^GR fb^ \eae^ 6R>R>AH>^ [db^ f`^ KZe`F^ ;^ ]aeae^ [dbQ [F]]e^`e^Y_d_dVe^\F`^aF_XfbF^Sfbe`F^\f^[dXYfQ XFbad^ \F``F^ eaafTfaM^ \F`FVeaF^ e``e^ ][_fTFbaF ]fbd^e`^4HRH>R>AH> Tf]ad^f`^Y_dTTF\fXFbad^\F`^H>RHAR>AA6^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^bF`^]Z\\Faad^Y_dTTF\fXFbad^\f^\F`FVe Tf]ad^f`^Y_dTTF\fXFbad^\F`^4HR?R>AHA^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF Tf]ad^f`^Y_dTTF\fXFbad^\F`^>:RHHR>AHH^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF Tf]ad^f`^Y_dTTF\fXFbad^\F`^H-RHAR>AH>^[db^f` KZe`F^f`^0R^GR^Le^eZad_fUUead^f`^Y_dSF]]fdbf]ae \F`FVead^ e^ Sf]]e_F^ `F^ bZdTF^ TFb\faF^ e\^ Zb Y_FUUd^Oe]F^fbSF_fd_F^\f^ ^_f]YFaad^e`^Y_FUUd Sf]]ead^Y_F[F\FbaFXFbaF ][fd`ae^`e^_f]F_Te^Y_F]e^fb^\eae^>?R7R>AH> _faFbZad^bF[F]]e_fd^Sf]]e_F^`e^TFb\fae^\Ff^OFbf YfVbd_eaf^ Tf]ad^`Pe_aR^?-6^[RYR[R J55N=J [LF^ bF``e^ \eae^ F^ bF`^ `ZdVd^ ]daad^ fb\f[eaf^ ]f aF__M^`e^TFb\fae^]FbUe^fb[ebad^\Ff^]FVZFbaf OFbf^fXXdOf`f) -3003; ; ;0acXadf^=gYVXfaNdZdeadeg]dge``d IIg ]dg ]Vae^eg fg ad``cJeOd_fg e__eg YZeL ]f`Reg]dgVPVe_gXfadc]c[gXfag_eg?Vc^e ]dgTBT[g]dgV`gOc"gYfUd`^faae^cgXcY^c d`g V`g f]dNdZdcg d`g _d`feg ]dg UePPdcaf Zc`YdY^f`Re[g Yd^cg d`g 8eUfRdeg ;faUf 2E&5[gEc`^ae]eg)c``eg%eRRe[gZcUXcL Y^cg ]eg V`g V`dZcg eUOdf`^f[g Zc`g V`e YVXfaNdZdfgZcUUfaZde_fg]dgZdaZegU?\ QK[HW\g89dUUcOd_fg-gd]f`^dNdZe^cgZe^eL Y^e_Uf`^fgNP_\gQS[gXea^\gTKKQ[gYVOgS[ YfRdc`fgZf`Ycadeg:dZeY^ac[gRc`egZf`L YcadegT[gZe^fPcadegEBH[gZ_eYYfgQ[gZc`L YdY^f`Reg U?\g ST[g af`]d^eg <g QG[IH\g A_ Oc"gXafYf`^eg]f__fg]dNNcaUd^=g]egZc`L ]c`eafg Xfag V`eg YXfYeg ]dg <g SMF[WW 2fVacg]VfZf`^cZd`?Ve`^c^^cBWW5\g #6944:;.819 <gG\MIQ[GM 8GZ_d^]FaaFXf`e[fbQ KZF[Fbad^bdTebaea_F27?< -3003; Q 0acXadf^=gYVXfaNdZdeadeg]dge``d IIg ]dg ]Vae^eg fg ad``cJeOd_fg e__eg YZeL ]f`Reg]dgVPVe_gXfadc]c[gXfag_eg?Vc^e ]dgTBT[g]dgV`gOc"gYfUd`^faae^cgXcY^c d`g V`g f]dNdZdcg d`g _d`feg ]dg UePPdcaf Zc`YdY^f`Re[g Yd^cg d`g 8eUfRdeg ;faUf 2E&5[gEc`^ae]eg)c``eg%eRRe[gZcUXcL Y^cg ]eg V`g V`dZcg eUOdf`^f[g Zc`g V`e YVXfaNdZdfgZcUUfaZde_fg]dgZdaZegU?\ QK[SW\g89dUUcOd_fg-gd]f`^dNdZe^cgZe^eL Y^e_Uf`^fgNP_\gQS[gXea^\gTKKQ[gYVOgQ[ YfRdc`fgZf`Ycadeg:dZeY^ac[gRc`egZf`L YcadegT[gZe^fPcadegEBH[gZ_eYYfgQ[gZc`L YdY^f`Reg U?\g ST[g af`]d^eg <g QG[IH\g A_ Oc"gXafYf`^eg]f__fg]dNNcaUd^=g]egZc`L ]c`eafg Xfag V`eg YXfYeg ]dg <g SMF[WW 2fVacg]VfZf`^cZd`?Ve`^c^^cBWW5\g #6944:;.819;<gG\MIQ[GM 8GZ_d^]FaaFXf`e[fbQ KZF[Fbad^bdTebaea_F27?< c N^OFbf^\f^[Zf^]dY_e^_f]Z`aebd^XFV`fd^\FQ ][_faaf^bF``e^[db]Z`FbUe^aF[bf[e^e^Sf_Xe \F``Pe_[LR^(_eb[F][d^Jbadbfd^(e`Td^[LF \FTF^F]]F_F^[db]Z`aeae^\e``Pe[KZf_FbaF F\^e``e^KZe`F^]f^Se^F]Y_F]]d^_fbTfd^eb[LF YF_^aZaad^[f ^[LF^[db[F_bF^`PF]f]aFbUe^\f FTFbaZe`f^dbF_fW^YF]f^bdb[L'^\fSSd_XfaM F\f`fUfF^F\^Z_Oebf]af[LF^e^KZe`]fe]f^afad`d V_eTebaf^]Zf^OFbf^]aF]]fR^ c De^ _F`eUfdbF^ ;^ [db]Z`aeOf`F^ Y_F]]d^ `d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^\e` `ZbF\ ^e`^TFbF_\ W^\e``F^d_F^H-WAA^e``F d_F^H:WAAW^Y_FTfd^eYYZbaeXFbad^aF`FSdQ bf[d^ F\^ e`a_F] ^ ]Zf^ ]faf^ fbaF_bFa !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^F^ !!!Re]aFRFZVFbfZ]RfaR^ b )e^eg fYeUfg cNNfa^f,g STg ]dZfUOaf SWTS[ge__fgcafgTH[QWgfgYfPP\\ c DZdVd^F]eXF^dSSF_aF)^]aZ\fd^\F`^Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^aFQ `FSe"^ A6-:R//H?H-W^ [F``Z`e_F 44:R/A>A6-:W^FQXef`^eTTRS_eb[F][eXfQ ]Z_e[ af][e`fRfa J55N=J^JD@1G= [LF^bF``PfYdaF]f^fb^[Zf) c bdb^]febd^Y_dYd]aF^dSSF_aF^\Pe[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadR c `F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RR c ]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^NNNW^[RYR[RR


c `e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFR c eT_M^`ZdVd^`e^TFb\fae^[db^fb[ebad^\Ff XF\F]fXf^ OFbf^ bF``e^ ]FVZFbaF^ \eae^ F `ZdVd)^^ -3003; ;[dXF^]dY_e\F][_faad #6944:;.819 <gG\MIQ[GM 8GZ_d^]FaaFXf`e[fbQ KZF[Fbad^bdTebaea_F27?< 2)85$2:; &252&: <g MWW[WW 8GZ_d^ [fbKZFQ [Fbad2AA<R -3003; ;[dXF^]dY_e\F][_faad #6944:;.819;<gG\MIQ[GM 8GZ_d^]FaaFXf`e[fbQ KZF[Fbad^bdTebaea_F27?< 2)85$2:; &252&: <g MWW[WW 8GZ_d^ [fbKZFQ [Fbad2AA<R b )e^eg]f__9d`Ze`^cgSFg]dZfUOafgSWTS[ cafgTH[QWgfgYfPP\ c DZdVd^ \F``Pfb[ebad)^ ]aZ\fd^ \F`^ Y_dSF]Q ]fdbf]ae^\F`FVead^eTTR^(_eb[F][e^+f]ZQ _e[eW^]fad^fb^DeXFUfe^@F_XF^8C%<W^5fe 0e_fOe`\f^bR^4W^aF`FSdbd^A6-:R>/4?4W^Se" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^eTTRS_eb[F][eXf]Z_e[ af][e`fRfa c Nb^ae`F^Z`afXe^Z\fFbUeW^e^\fSSF_FbUe^\F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbfW^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUd^Oe]FW^fb^Xf]Z_e^bdb^fbSF_fd_F e`^ XfbfXd^ ]dY_e^ fb\f[eadW^ e^ YFbe^ \f fbeXXf]]fOf`faMR^ c =f^eTTf]e^fb^dVbf^[e]d^[LF) c `e^TFb\fae^\Ff^OFbf^eTTfFbF^bF``d^]aead \f^Seaad^F^\f^\f_faad^fb^[Zf^f^OFbf^XF\F]fXf ]f^ a_dTebdW^ [d] ^ [dXF^ f\FbafSf[eafW^ \FQ ][_faaf^F^Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eQ UfdbFW^ ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_ FTfUfdbFW^Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f [db\Zaad_fW^[db^aZaaF^`F^YF_afbFbUFW^e[Q [F]]d_fW^_eVfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF F^Ye]]fTF^FTFbaZe`XFbaF^F]f]aFbafR^ c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_e^F\ FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^DPF]f]aFbUe \f^ FTFbaZe`f^ TfUfW^ Xeb[ebUe^ \f^ KZe`faM F2d^\fSSd_XfaM^\F``e^[d]e^TFb\Zae^bdbQ [L'^dbF_f^\f^KZe`]fe]f^VFbF_F^8fTf^fb[`Z]fW e\^ F]FXYfdW^ KZF``f^ Z_Oebf]af[f^ dTTF_d \F_fTebaf^ \e``e^ bF[F]]faM^ \f^ e\FVZeQ XFbad^\FV`f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F<^ YF_^ KZe`ZbKZF^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR^ c V`f^ fbaF_F]]eaf^ Yda_ebbd^ F]eXfbe_F^ V`f fXXdOf`f^Yd]af^fb^TFb\fae^Se[Fb\dbF^_fQ [LfF]ae^][_faae^e`^[Z]ad\F^VfZ\fUfe_fd^eTTR (_eb[F][e^+f]Z_e[eW^[db^]aZ\fd^]fad^fb DeXFUfe^@F_XF^8C%<W^5fe^0e_fOe`\f^bR^4W aF`FSdbd^ A6-:R>/4?4W^ aF`FSe" A6-:R//H?H-W^[F``Z`e_F^44:R/A>A6-:W^FQ Xef`^ eTTRS_eb[F][eXf]Z_e[ af][e`fRfa^ [LFW Y_FTfd^ eYYZbaeXFbad^ \e^ [db[d_\e_]f eb[LF^aF`FSdbf[eXFbaFW^Y_dTTF\F_M^e\ e[[dXYeVbe_F^V`f^fbaF_F]]eaf^XF\F]fXf Y_F]]d^V`f^fXXdOf`f^]Z\\FaafR^ c ^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^[\R^Y_dad[d``d^J*N^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fR c ^Yd]]fOf`F^[db]FVZf_FW^Y_F]]d^`d^]aZ\fd \F`^Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f` ]fad^J*NW^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf e``PfbfUfeafTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe @F_XF)^]f^fbTfaebd^V`f^dSSF_Fbaf^e^[dbaeaQ ae_F^\f_FaaeXFbaF^`F^]F\f^\F``F^eVFbUfF d^Sf`fe`f^fb[e_f[eaF^\e``F^Oeb[LF^]aF]]FW \F``F^KZe`f^]e_M^\f]YdbfOf`F^eb[LF^f`^_FQ [eYfad^aF`FSdbf[dW^^Y_F]]d^`d^]aZ\fd^\F` Y_dSF]]fdbf]ae^\F`FVead^d^Y_F]]d^f`^]fad J*NR c N`^aF_XfbF^\f^TF_]eXFbad^\F`^]e`\d^\F` Y_FUUd^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\f_faaf F^]YF]F^[db]FVZFbaf^e``e^TFb\faeW^[dXF KZebafSf[eaf^\e`^Y_dSF]]fdbf]ae^\F`FVeadW ;^\f^-A^Vfd_bf^\e``e^\eae^\F``e^TFb\faeW XF\febaF^\FYd]fad^]Z^Zb^`fO_Faad^\f^\FQ Yd]fad^ Yd]ae`F^ d^ Oeb[e_fd^ bdXfbeafTdW fbaF]aead^e``e^Y_d[F\Z_e^F^Tfb[d`ead^e`Q `Pd_\fbF^\F`^0fZ\f[FW^VfM^e[[F]d^Y_F]]d Zb^f]afaZad^\f^[_F\fad^e^[Z_e^\F`^Y_dSF]Q ]fdbf]ae^\F`FVeadR c Ze`d_e^f`^Y_d[F\fXFbad^]f^Oe]f^]Z^[_FQ \fad^Sdb\fe_fdW^e`^TF_]eXFbad^]Z^`fO_Faad ]e_M^]d]afaZfadW^ef^]Fb]f^F^YF_^V`f^FSSFaaf \F``Pe_aR^ /HW^ [dXXe^ N5W^ \F`^ 9R^ DV]R

c c

c

c

c

c

c

c

b

c c

c c

c

c

c

c c c c

HR6RH664^ bR^ 4:?W^ f`^ YeVeXFbad^ \f_Faad e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F`^[_FQ \fad^eUfdbeadW^Fba_d^f`^aF_XfbF^]Zfb\f[ead F^ \Fa_eaad^ Zb^ FTFbaZe`F^ e[[ebadbeQ XFbad^YF_^]YF]F^\f^Y_d[F\Z_e^e^[e_f[d \F``e^ Xe]]eW^ bF``e^ Xf]Z_e^ [LF^ ]e_M KZebafSf[eae^\e`^Y_dSF]]fdbf]ae^\F`FVeadR Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR =d`d^e``PF]fad^\FV`f^e\FXYfXFbaf^]Z[[fQ aeaf^bdb[L'^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ ]fe^ [eae]ae`f^ [LF^ _F`eafTf e``F^f][_fUfdbf^F^a_e][_fUfdbf^FSSFaaZeaF^]Z` OFbF^TF__M^FXF]]d^f`^\F[_Fad^\f^a_e]SFQ _fXFbad^F"^e_aR^?:-^[RYR[RR DF^ ]YF]F^ \f^ a_e]SF_fXFbad^ \F`^ OFbF ]dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^F^\FQ Tdbd^ F]]F_F^ TF_]eaF^ e`^ XdXFbad^ \F` \FYd]fad^\F``e^\fSSF_FbUe^\F`^Y_FUUd^\f eVVfZ\f[eUfdbFW^ bF``e^ Xf]Z_e^ Ye_f^ e` >A ^\f^KZF]aPZ`afXdR J``PeVVfZ\f[eae_fd^_F]aebd^_f]F_TeafW^e`Q a_F] W^f^[d]af^F^`F^eaafTfaM^YF_^`e^[eb[F``eQ UfdbF^ \F``F^ Sd_Xe`faM^ bdb[L'^ f^ _F`eafTf [dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdbf]ae^\FQ `FVead^YF_^`F^dYF_eUfdbf^]Z[[F]]fTF^e``e TFb\faeW^[dXF^`fKZf\eaf^\e`^0R^GRR Nb^eVVfZbae^e`^Y_FUUd^\f^eVVfZ\f[eUfdbFW ;^ e^ [e_f[d^ \F``PeVVfZ\f[eae_fd^ f`^ YeVeQ XFbad^\F``F^]dXXF^bF[F]]e_fF^YF_^`e ]ebead_fe^ \FV`f^ FTFbaZe`f^ eOZ]f^ 8FW KZfb\fW^KZF``F^]dXXF^\dTZaF^e^afad`d^\f dO`eUfdbFW^\f^[ebdbf^[db[F]]d_fW^Fa[R<R DPeVVfZ\f[eae_fd^\dT_M^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d\^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XF^8C%<R De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^\F``F^dSSF_aF^F^`F^[db\fUfdbf^\f^TFbQ \fae^]dbd^_FVd`eaF^[dXF^]FVZF) 5GE9N@J^=GE%J^NECJE@B J^ bd_Xe^ \F``Pe_aR^ ?7H^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Sd_XZQ `e_F^dSSF_aF^YF_^`Pe[KZf]ad^\FV`f^fXXdOf`f YfVbd_eafW^YF_]dbe`XFbaF^d\^e^XFUUd^\f Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e^ bd_Xe \F``Pe_aR^ ?76W^ Z`afXd^ [dXXeW^ [RYR[RR^ N` Y_d[Z_ead_F^`FVe`F^\dT_MW^fb^dVbf^[e]dW F]]F_F^XZbfad^\f^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eaeW^ bdb^ F]]Fb\d ]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead^e``F^`fafR EF``PfYdaF]f^\f^[Zf^e`^]Z[[faead^e_aR^?76W [dXXe^NNNW^[RYR[RW^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^NW^[RYR[RR 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL Yfafg XafYf`^e^f[g d`g OVY^eg Z3dVYe[ f`^acg_fgcafgTQg]f_gPdca`cgSWg]dZfUL OafgSWTS\ DPdSSF_ae^;^fbFSSf[e[F^]F^YF_TfFbF^d`a_F ae`F^aF_XfbFR^^ DF^dSSF_aF^]aF]]F^\dT_ebbd^F]]F_F^Y_FQ ]FbaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadW^e``Pfb\f_fUUd^]Zfb\f[eadW \e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f^ZSSfQ [fdR^ EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ ]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead F^`e^\eae^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFR DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^`ZdVd^Sf]]eaf^YF_^`PF]eXF^\F``F^dSSF_aFW e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF^[dXQ Ye_]fR DPdSSF_FbaF^\FTF^Y_F]Fbae_FW^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVeadW^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe) `Pfb\f[eUfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e Y_d[F\Z_eR^ f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^e`^Y_FUUd^XfbfXd^fb\f[ead^bF`Q `PeTTf]d^\f^TFb\fae^e^YFbe^\f^fbFSSf[e[feR `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^ _fSF_f][F^ `PdSSF_ae^ F\^ dVbf^ e`a_d^ F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\f^KZF]aeR `F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdbf[dW

c c

c

c

c c c

c

b

c

c c

]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF^YeQ a_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb^[dXZQ bfdbF^ `FVe`F^ \Ff^ OFbfW^ e`a_F] ^ bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^ Sf][e`F^ F^ _F]f\FbUe^ \F`^ [dbfZVF<W d`a_F^ e^ [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f f\FbafaM^Y_dY_fd^F\^eb[LF^\F`^[dbfZVF^]F ;^fb^[dXZbfdbF^`FVe`FR^Edb^]e_M^Yd]]fQ Of`F^fbaF]ae_F^`PfXXdOf`F^e^]dVVFaad^\fQ TF_]d^\e^KZF``d^[LF^]daad][_fTF^`PdSSF_ae F\^fbd`a_F^`PdSSF_FbaF^\dT_M^Y_F]Fbae_]f e``PZ\fFbUe^Sf]]eae^YF_^`e^TFb\fae^]FbUe fb[ebadR^=F^`PdSSF_FbaF^;^Xfbd_FbbFW^`PdSQ SF_ae^\dT_M^F]]F_F^]daad][_faae^\ef^VFbfQ ad_fW^ Y_FTfe^ eZad_fUUeUfdbF^ \F`^ VfZ\f[F aZaF`e_FR^ Ze`d_e^`e^YF_]dbe^Sf]f[e^\dQ TF]]F^Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f dXdbfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F fb\f[eae^eb[LF^`e^Ye_afae^N5J^F\^e``PdSQ SF_ae^\dT_M^e``FVe_]f^Zbe^_F[FbaF^Tf]Z_e [eXF_e`F^\F``e^\faae^]aF]]eR^=F^]d[fFaM dYYZ_F^FbaFW^d[[d__F^]YF[fSf[e_bF^f^\eaf f\FbafSf[eafTfW^ fb[`Z]e^ `e^ Ye_afae^ N5J^ F2d [d\f[F^ Sf][e`FW^ f`^ _F[eYfad^ ^ aF`FSdbf[d bdb[L'^bdXFW^[dVbdXFW^`ZdVd^F^\eae \f^ be][fae^ \F`^ `FVe`F^ _eYY_F]FbaebaFR J``e^\dXeb\e^\dT_ebbd^F]]F_FW^fbd`a_FW e``FVeafW^]fe^Zbe^_F[FbaF^Tf]Z_e^[eXFQ _e`F^\F``e^]d[fFaM^d^FbaF^\e``e^KZe`F^_fQ ]Z`af^ `d^ ]aead^ \F``e^ ]d[fFaM^ d^ FbaF XF\F]fXd^F\^f^YdaF_f^[dbSF_faf^e``PdSSFQ _FbaF^fb^Z\fFbUeW^]fe^[dYfe^Sdad]aeaf[e^\f Zb^Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaF^XF\F]fXd^FW^]F^bF[F]]e_fdW^TeQ `f\e^ \d[ZXFbaeUfdbF^ [dXY_dTebaF^ f _F`eafTf^ YdaF_f^ F2d^ `e^ _F`eafTe^ `FVfaafXeQ UfdbF^8e\^F]RW^Y_d[Z_e^]YF[fe`F<R^Nb^[e]d \f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e^Yf&^]dVQ VFaafW^`Pfb\f[eUfdbF^\f^KZF``d^[LF^eOOfe `PF][`Z]fTe^Se[d`aM^\f^Sd_XZ`e_F^FTFbaZe`f dSSF_aF^fb^eZXFbadR `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR J``PdSSF_ae^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^fb^XfQ ]Z_e^bdb^fbSF_fd_F^e`^\F[fXd^\F`^Y_FUUd Y_dYd]adW^ e^ YFbe^ \f^ fbFSSf[e[feR^ 9Faae ]dXXe^]e_M^a_eaaFbZae^fb^[e]d^\f^_fSfZad \F``Pe[KZf]ad^XFba_FW^fb^[e]d^\f^Xeb[eae eVVfZ\f[eUfdbFW^]e_M^_F]afaZfae^fXXF\feQ aeXFbaFR Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``PdSSF_ae^Yf& e`aeW^ e^ bd_Xe^ \F``Pe_aR^ ?74^ [RYR[R^ F\^ f` OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\f[ead e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf&^e`adR DPeVVfZ\f[eUfdbF^]e_M^\f^_FVd`e^\FSfbfQ afTeW^bdb^F]]Fb\d^eXXF]]dW^bF``F^TFbQ \faF^]FbUe^fb[ebadW^`F^dSSF_aF^fb^eZXFbad \f^[Zf^e``Pe_aR^?:/^[RYR[RR De^Te`f\faM^F^`PFSSf[e[fe^\F``PdSSF_ae^\Pe[Q KZf]ad^;^_FVd`eae^\e``Pe_aR^?7HW^[dXXe^NNW [RYR[RR DPdSSF_ae^ ;^ f__FTd[eOf`F^ YF_^ H>A^ Vfd_bf \e``e^]Ze^Y_F]FbaeUfdbFW^ef^]Fb]f^\F`Q `Pe_aR^?7HW^[dXXe^NNNW^[RYR[RR DF^ Xd\e`faM^ \f^ TFb\fae^ ]FbUe^ fb[ebad ]dbd^_FVd`eaF^\eV`f^e_aaR^?7>^F^]FVZFbaf [RYR[RR 5GE9N@J^CBE^NECJE@B J^ bd_Xe^ \F``Pe_aR^ ?76^ [RYR[RW^ dVbZbdW a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e^Se_F^dSQ SF_aF^ e``Pfb[ebadW^ YF_]dbe`XFbaF^ d\^ e XFUUd^ \f^ Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e bd_Xe^ \F``Pe_aR^ ?76W^ Z`afXd^ [dXXeW [RYR[RR^ N`^ Y_d[Z_ead_F^ `FVe`F^ \dT_MW^ fb dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f^ Xeb\ead ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^ Y_fTeae^ eZaFbaf[eaeW^ bdb^ F]Q ]Fb\d^ ]ZSSf[fFbaF^ `Pd_\fbe_fd^ Xeb\ead e``F^`fafR^EF``PfYdaF]f^\f^[Zf^e`^]Z[[faead^e_aR ?76W^[dXXe^NNNW^[RYR[RW^f`^Xeb\ead^]YFQ [fe`F^_f]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faQ aZ_e^ Y_fTeae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^NW^[RYR[RR 8fg]cUe`]fg]dgXea^fZdXeRdc`fge__9d`L Ze`^cg]cJae``cgfYYfafgXafYf`^e^fgd` OVY^eg Z3dVYeg f`^acg _fg cafg TQg ]f_ Pdca`cgSGg]dZfUOafgSWTS\g DF^]aF]]F^\dT_ebbd^F]]F_F^Y_F]FbaeaF Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^\e`^`ZbF\ ^e`^TFbF_\ W^bFV`f^d_e_f^\f ZSSf[fdR^ EF]]Zbe^ebbdaeUfdbF^\dT_M^F]]F_F^eYQ Yd]ae^]Z``e^OZ]aeR^ =Z``e^ OZ]ae^ XF\F]fXe^ \dT_ebbd^ F]Q ]F_F^ebbdaeaFW^e^[Z_e^\F`^Y_dSF]]fdbf]ae \F`FVead^_f[FTFbaF^d^\f^]Zd^\F`FVeadW^f` bdXFW^ Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [d`Zf [LF^ XeaF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYdQ ]fadW^ f`^ bdXF^ \F`^ 0fZ\f[F^ \F``PF]F[ZQ UfdbFW^KZF``d^\F`^Y_dSF]]fdbf]ae^\F`FVead

F^ `e^ \eae^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadR c DPe]]FVbd^ YF_^ `e^ [eZUfdbF^ \dT_M^ F]Q ]F_F^fb]F_fad^bF``e^OZ]aeW^[LF^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^d\^f`^Y_dY_fd^\F`FVead e\^ Ld[^ ]fVf``F_M^ f\dbFeXFbaF^ e`^ XdQ XFbad^\F`^\FYd]fadR c DF^OZ]aF^]e_ebbd^eYF_aF^e``e^\eaeW^d_e F^ `ZdVd^ Sf]]eaf^ YF_^ `Pfb[ebadW^ e``e^ Y_FQ ]FbUe^\FV`f^dSSF_FbafW^dTF^[dXYe_]fR c DPdSSF_FbaF^\FTF^Y_F]Fbae_F^Y_F]]d^`d ]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FVead^Zbe \f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW^[LF \dT_M^[dbaFbF_FW^e^YFbe^\f^fbFSSf[e[fe) c `Pfb\f[eUfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e Y_d[F\Z_eR^ c f`^Y_FUUd^dSSF_adW^[LF^bdb^Yda_M^F]]F_F fbSF_fd_F^ e`^ Y_FUUd^ e^ Oe]F^ \Pe]ae^ fb\fQ [ead^ bF``PeTTf]d^ \f^ TFb\fae^ e^ YFbe^ \f fbFSSf[e[feR c `Pf\FbafSf[eUfdbF^\F`^OFbF^F^\F`^`daad^[Zf ]f^_fSF_f][F^`Pf]aebUe^\f^Ye_aF[fYeUfdbFR c `F^ VFbF_e`faM^ \F`^ [db[d__FbaF^ 8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^_F[eYfad^aF`FSdQ bf[dW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVf^FW^]F^fb^[dXZQ bfdbF^`FVe`F^\Ff^OFbfW^e`a_F] ^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`F^F^_F]f\FbUe^\F`^[dbfZVF<W^d`a_F^e [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM Y_dY_fd^F\^eb[LF^\F`^[dbfZVF^]F^;^fb^[dQ XZbfdbF^`FVe`FR^Edb^]e_M^Yd]]fOf`F^fbQ aF]ae_F^`PfXXdOf`F^e^]dVVFaad^\fTF_]d^\e KZF``d^[LF^]daad][_fTF^`Pf]aebUe^\f^Ye_aFQ [fYeUfdbF^ F\^ fbd`a_F^ `PdSSF_FbaF^ \dT_M Y_F]Fbae_]f^ e``PZ\fFbUe^ Sf]]eae^ YF_^ `e TFb\fae^e``Pfb[ebadR^ c =F^`PdSSF_FbaF^;^Xfbd_FbbFW^`e^\dXeb\e \f^ Ye_aF[fYeUfdbF^ \dT_M^ F]]F_F^ ]daadQ ][_faae^ \ef^ VFbfad_fW^ Y_FTfe^ eZad_fUUeQ UfdbF^ \F`^ VfZ\f[F^ aZaF`e_FR^ Ze`d_e^ `e YF_]dbe^ Sf]f[e^ \dTF]]F^ Ye_aF[fYe_F^ fb KZe`faM^\f^afad`e_F^\f^dXdbfXe^\faae^fb\fQ Tf\Ze`FW^\dT_M^F]]F_F^fb\f[eae^eb[LF^`e Ye_afae^N5J^F\^e``e^\dXeb\e^\dT_M^e``FQ Ve_]f^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^\F``e \faae^]aF]]eR^=F^]d[fFaM^dYYZ_F^FbaFW^d[Q [d__F^]YF[fSf[e_bF^f^\eaf^f\FbafSf[eafTfW^fbQ [`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW^f` _F[eYfad^^aF`FSdbf[d^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^ _eYY_F]FbaebaFR^ J``e^ \dXeb\e \dT_ebbd^ F]]F_FW^ fbd`a_FW^ e``FVeafW^ ]fe Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^\F``e^]dQ [fFaM^d^FbaF^\e``e^KZe`F^_f]Z`af^`d^]aead \F``e^]d[fFaM^d^FbaF^XF\F]fXd^F\^f^YdQ aF_f^[dbSF_faf^e``PdSSF_FbaF^fb^Z\fFbUeW^]fe [dYfe^Sdad]aeaf[e^\f^Zb^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F``PdSSF_FbaF^XF\F]fXd^FW^]F bF[F]]e_fdW^ Te`f\e^ \d[ZXFbaeUfdbF [dXY_dTebaF^f^_F`eafTf^YdaF_f^F2d^`e^_F`eQ afTe^`FVfaafXeUfdbF^8e\^F]RW^Y_d[Z_e^]YFQ [fe`F<R^ Nb^ [e]d^ \f^ \f[Lfe_eUfdbF Y_F]Fbaeae^\e^Yf&^]dVVFaafW^`Pfb\f[eUfdbF \f^KZF``d^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f Sd_XZ`e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadR c `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``Pf]aebUe^\dT_M^F]]F_F^e``FVead^Zb^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e`^Y_dSF]]fdbf]ae^\F`FVead^eTTR^(_eb[FQ ][e^+f]Z_e[eW^e^afad`d^\f^[eZUfdbFW^\f^fXQ Yd_ad^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd Yd]ad^e^Oe]F^\Pe]aeW^e^YFbe^\f^fbFSSf[eQ [fe^ F\^ fb^ [dbad^ Y_FUUd^ \f^ eVVfZ\f[eQ UfdbFR^ .F_^ dSS_f_F^ e``Pfb[ebadW^ ; bF[F]]e_fd^ eTF_F^ Y_F]aead^ `e^ Y_F\Faae [eZUfdbFR^=F^`PdSSF_FbaF^bdb^\fTfFbF^eVQ VfZ\f[eae_fdW^`e^[eZUfdbF^;^fXXF\feaeQ XFbaF^ _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e \F``Pfb[ebadW^ ]e`Td^ [LF^ `d^ ]aF]]d^ bdb eOOfe^dXF]]d^\f^Ye_aF[fYe_F^e``Pfb[ebad XF\F]fXd^YF_]dbe`XFbaF^d\^e^XFUUd \f^ Y_d[Z_ead_F^ ]YF[fe`F^ ]FbUe^ \d[ZQ XFbaead^ F^ VfZ]afSf[ead^ XdafTdR^ Nb^ ae` [e]dW^`e^[eZUfdbF^'^_F]afaZfae^]d`d^bF``e Xf]Z_e^\f^62HA^\F``PfbaF_d^F^`e^_F]aebaF Ye_aF^;^a_eaaFbZae^[dXF^]dXXe^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR c DPdSSF_ae^bdb^;^FSSf[e[F^]F^bdb^]ZYF_e f`^ Y_FUUd^ Oe]F^ d^ `PdSSF_ae^ Y_F[F\FbaF bF``e^Xf]Z_e^XfbfXe^]dY_e^fb\f[eaeR c DF^Xd\e`faM^\f^TFb\fae^e``Pfb[ebad^]dbd _FVd`eaF^\eV`f^e_aaR^?:H^F^]FVVR^[RYR[RR B((G1@G^NE^J,+GE@B^9N^,E^ ,NE@B c J^ bd_Xe^ \F``Pe_aR^ ?:/^ [RYR[W^ eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\Pe[KZf]ad^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^\f^\fF[f^Vfd_bf^\e``Pfb[ebadW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^\f^Zb^KZfbad^KZF``d^_eVVfZbad^bF`Q `Pfb[ebad^XF\F]fXdR c .F_aebadW^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^ \F[d_]f^ \fF[f^ Vfd_bf^ \e``Pfb[ebad ]FbUe^dSSF_aF^fb^eZXFbadR^ c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF


Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^\F`FQ VeadW^bF``F^Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW Y_F]aeb\d^ [eZUfdbF^ YF_^ Zbe^ ]dXXe Ye_f^ e`^ \dYYfd^ \F``e^ [eZUfdbF^ TF_]eae YF_^`e^Ye_aF[fYeUfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aF fb^eZXFbadW^TF__M^fb\Faae^Zbe^Ve_e^]FQ [db\d^ `F^ Y_FTf]fdbf^ \f^ [Zf^ e``Pe_aR^ ?:/ [RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^NNNW^[RYR[RW^`PeVVfZQ \f[eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feaeW^e^[e_f[d^\FV`f^dSSF_FbafW^]e`Td [LF^_f[d__e^ Zb^ \d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTdW^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^fXYd_ad^]e_M^a_eaaFbZad^[dXF^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PF]F[ZUfdbFR c =f^]YF[fSf[e^[LF^aZaaF^`F^eaafTfaM^[LFW^ef ]Fb]f^\F``Pe_a^?7H^[RYR[R^F^]FVVR^[RYR[R \FTdbd^F]]F_F^[dXYfZaF^fb^[eb[F``F_fe d^\eTebaf^e`^0fZ\f[F^\F``PF]F[ZUfdbF^dYQ YZ_F^\e`^[eb[F``fF_F^d^\e`^0fZ\f[F^\F`Q `PF]F[ZUfdbFW^ ]dbd^ F]FVZfaF^ \e` Y_dSF]]fdbf]ae^ \F`FVead^ Y_F]]d^ f`^ ]Zd ]aZ\fdR c N`^Y_F]FbaF^eTTf]d^TF__M^YZOO`f[ead^XFQ \febaF^eSSf]]fdbF^e``PJ`Od^\F`^@_fOZbe`F^\f DeXFUfe^ @F_XFW^ ]Zf^ ]faf^ fbaF_bFa !!!Re]aFRfXXdOf`fRfaW !!!RYd_ae`Fe]aFR[dX^ F^ !!!Re]aFRFZQ VFbfZ]RfaW^ ]Z`^ KZdaf\febd^ `d[e`F^ NN^ 9dQ Xebf^ \F``e^ Ce`eO_fe^ F^ ]Zf^ YF_fd\f[f J]aFNbSdeYYe`af^F^ ZfG[dbdXfeR c @_e^`PeTTFbZae^YZOO`f[faM^\f^[Zf^]dY_e^F `e^\eae^\F``Pfb[ebad^\dT_M^\F[d__F_F^Zb aF_XfbF^bdb^fbSF_fd_F^e^/?^Vfd_bfR c N`^Yf&^\f`fVFbaF^\Ff^[_F\fad_fW^XZbfad^\f^afQ ad`d^F]F[ZafTdW^Yda_M^_Fb\F_F^bdad^f`^Y_FQ ]FbaF^ eTTf]dW^ e^ ]Ze^ [Z_e^ F^ ]YF]FW XF\febaF^ eSSf]]fdbF^ XZ_e_feW^ \e^ FSSFaQ aZe_]f^bFf^[dXZbf^\f^DeXFUfe^@F_XF^F\ fb^KZF``d^\f^ZOf[eUfdbF^\F``PfXXdOf`FW^e`Q XFbd^/?^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``Pfb[ebadR^Nbd`a_FW^[fe][Zbd^\Ff^[_F\fQ ad_f^XZbfaf^\f^afad`d^F]F[ZafTd^;^eZad_fUQ UeadW^ e^ ]ZF^ ]YF]FW^ bdb^ _fXOd_]eOf`f bFYYZ_F^F"^e_aR^>77A^[R^[RW^e``PZ`aF_fd_F Sd_Xe^\f^YZOO`f[faM^\e^`Zf^FTFbaZe`XFbaF _f[LfF]aeW^\e^F]FVZf_]f^e`XFbd^/?^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^ dSSF_aF^ d^ \F``e^ \eae^ \F``Pfb[ebadR @e`f^ Sd_XF^ Z`aF_fd_f^ \f^ YZOO`f[faM^ ]dbd ]aeaF^\f[Lfe_eaF^\e`^0R^GR^bdb^bF[F]]eQ _fF^ef^Sfbf^\F``PF]YF_fOf`faM^\F``e^TFb\faeR^^^ c =f^eTTF_aFW^fbSfbFW^[LF^f`^Y_dSF]]fdbf]ae \F`FVead^;^VfM^]aead^eZad_fUUead^\e`^0R GRW^dTF^`e^[F`FO_eUfdbF^\F``Pfb[ebad^bdb eOOfe^`ZdVdW^YF_^KZe`ZbKZF^XdafTdW^e``e \eae^]dY_e^]aeOf`faeW^e\^eYY`f[e_F^fXXFQ \feaeXFbaFW^^d]]fe^e^ae`F^]aF]]e^\eaeW `Pe_aR^?6H^[RYR[RW^]FbUe^e`[Zb^_fbTfd^fbaF_Q XF\fd^F2d^Z`aF_fd_F^F\^fb^KZF``d^]aF]]d [dbaF]ad^ YdaFb\d^ Y_dTTF\F_FW^ ]F^ \F` [e]dW^e^\f]Yd__F^`PeXXfbf]a_eUfdbF^VfZQ \fUfe_feR c +eVVfd_f^fbSd_XeUfdbf^TF__ebbd^Sd_bfaF \e`^ Y_dSF]]fdbf]ae^ \F`FVeadW^ Y_F]]d^ f` Y_dY_fd^ ]aZ\fdW^ e``Pfb\f_fUUd^ ]dY_e^ fb\fQ [eadR^ DeXFUfe^@F_XFW^>/RHAR>AH> d_gXacNfYYdc`dY^eg]f_fPe^c 8 *; 685$91$8; 21'68$8 CCCCC J55N=B^9N^5GE9N@J *GEN^N++B*NDN G ^J1@R^?-6^CB++J^4^ ^C.C 06'E>)*6@g:\gKTBIHg6\>\ =N^1GE9G^EB@B CLF^ f`^ 0RGR^ [db^ ]Ze^ d_\fbebUe^ \F` H6RA6R>AH>^Le^\f]Yd]ad^`e^TFb\fae^e``Pfb[ebad [LF^]f^aF__M^bF``PeZ`e^\F``F^YZOO`f[LF^Z\fFbUF \f^ KZF]ad^ @_fOZbe`F^ eTebaf^ e`^ VfZ\f[F^ \F``F F]F[ZUfdbfW^\FV`f^fXXdOf`f^]daadF`Fb[eaf -3003;(*; ^0df`egXacXadf^=g]f_g^faaf`c ePadZc_cgYd^cgd`gEca^e_fg_cZ\g/Ef__de. NPgQQgX\__fgTKLTMLTHLQTgfgQS\gEc`Nd`ege `ca]g Zc`g NdVUfg XfdYXf[g eg YV]g Zc` NcYYcg /1ea]d`e.g e]g cJfY^g Zc`g _e Y^ae]eg ZcUV`e_fg 1eUOVZcg fg XacL Xadf^=gXadJe^e\ #6944:;.819 <gM\IIW[KW -3003;(*; ; ^0df`egXacXadf^=g]f_g^faaf`c ePadZc_cgd`gEca^e_fg_cZ\g/;afeadf.gNPgQQ X\__eg`\gTW\gEc`Nd`egeg`ca]gZc`gXacL Xadf^=gXadJe^fg[ge]gfY^gZc`gY^ae]egZcL UV`e_fg/1eUOVZc.[gegYV]gfge]gcJfY^ Zc`gXacXadf^=gXadJe^f\g #6944:;.819;<gK\HHM[HW\ -3003;(*; ; ;0df`egXacXadf^=g]f_g^faaf`c ePadZc_cgd`gEca^e_fgNPgQQgX\__egKKgfgNP

QKg X\__eg K\g Ec`Nd`eg eg `ca]g Zc`g XacL Xadf^=gXadJe^e[ge]gfY^gfgegYV]gZc`gd_ NcYYcg /]f__eg OcYe.[g e]g cJfY^g Zc` Y^ae]eg XacJd`Zde_fg /+d_e]f_NdeLZfL `e]d.\g #6944:;.819;<gSH\WKI[WW (N==JE9B b _eg Jf`]d^eg e__9d`Ze`^cg Xfag d_g Pdca`c TIBTSBSWTS[gcafggWI[QWggfgYfPP\gXafYYc d_g ;adOV`e_fg 'a]d`eadcg ]dg 8eUfRde ;faUf[g e_g XafRRcg OeYfg ]9eY^eg ZcY ZcUfgYcXaegd`]dZe^c\ b 8egUdYVaegUd`dUeg]egeXXca^eafge__f cNNfa^fg eg Xf`eg ]9d`eUUdYYdOd_d^=g Xeadge_gM#g]f_gXafRRcgOeYfg]9eY^e\g c BVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_F^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^Xeb\eae_fd^XZbfad^\f Y_d[Z_ead_F^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4^[dXXeW^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbF^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ

c

c

c

c c

c

_e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaF_e^SW^[d\RW^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead

c

c

c

c

e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^.d]aF^Nae`febF^=RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^ ]F[db\d^ `F^ Y_F][_fUfdbf^ \f^ [Zf e``Pe_aR^?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeQ UfdbF^ e``Pfb[ebadW^ YF_]dbe`XFbaF^ d^ e XFUUd^\f^Y_d[Z_ead_F^]YF[fe`FW^]FbUe \d[ZXFbaead^F^VfZ]afSf[ead^XdafTdW^[dXQ Yd_aF_M^ `Pfb[eXF_eXFbad^ \f^ H2HA^ \F``e [eZUfdbFW^[LFW^\f^[dba_dW^]e_M^fXXF\feQ aeXFbaF^_F]afaZfae^\dYd^`e^[LfZ]Z_e^\F`Q `Pfb[ebadW^dTF^`PdSSF_FbaFW^_FVd`e_XFbaF Y_F]FbaFW^bdb^\fTFbVe^eVVfZ\f[eae_fdI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \Pe[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2H?^KZF``d _eVVfZbad^bF``Pfb[ebad)^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbad ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q


`Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RI c fb^dVbf^[e]d^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`F^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^$J*N#^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fI c `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfQ UfeafTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF ;^_FYF_fOf`F^Y_F]]d^`e^[eb[F``F_feI b A_g ^faUd`fg V_^dUcg Xfag ]fXcYd^eaf _9dY^e`Reg]dgXea^fZdXeRdc`fg`f__egZe`L Zf__fadeg]f__fgfYfZVRdc`dgdUUcOd_dead ]f_g;adOV`e_fg]dg8eUfRdeg;faUfg-gNdYL Ye^cgf`^acgfg`c`gc_^afg_fgcafgTQ\WWg]f_ TFBTSBSWTS\ c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^=RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfad^W^F"^e_aR^/HW^[dXXe^/W^9R^DV]^H ]FaaFXO_F^H664^b 4:?W^f`^YeVeXFbad^\fQ _Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\e``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^e`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI c f`^ [_F\fad_F^ Y_d[F\FbaF^ \dT_M^ Y_dTTFQ \F_F^e\^fb]F_f_F^`PeTTf]d^\f^TFb\fae^]Z^Zb ]fad^fbaF_bFa^fb\fTf\Zead^ef^]Fb]f^\F``Pe_aR H74^ aF_^ \f]YR^ eaaR^ [RYR[R^ YF_^ Zbe^ ]d`e Td`ae^]Z^Zb^KZdaf\febd^\f^fbSd_XeUfdbF^e \fSSZ]fdbF^`d[e`F^e^][F`aeW^YF_^Zbe^]d`e Td`ae^]Z^Zbe^_fTf]ae^YF_fd\f[eW^YZOO`f[faM \e^ FSSFaaZe_]f^ e`XFbd^ KZe_ebae[fbKZF Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbQ aeUfdbF^\F``F^dSSF_aF^d^\e``e^\eae^\f^TFbQ \faeI c f`^ [_F\fad_F^ Y_d[F\FbaF^ d^ ]Z__dVebaF \dT_M^ \FYd]fae_F^ e`XFbd^ \fF[f^ Vfd_bf Y_fXe^\F``e^TFb\fae^`e^Y_dTe^\F``PeTTFQ bZae^YZOO`f[faM^F`Faa_dbf[e^F\^e^XFUUd ]aeXYeR^ c +eVVfd_f^fbSd_XeUfdbf^fb^[eb[F``F_feR DeXFUfe^@F_XFW^

) ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e XacZf]VaegfYfZV^dJe dUUcOd_deafg`7gKIBSWTW[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >?2AH2>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^H62H>2>AH>I ):77:;'52$:; /geafegVaOe`egXcY^ege_gXde`c ^faaeg]f__egYVXfaNdZdfgZcUX_fYYdJeg]d U?gTHWgYd^egd`g8eUfRdeg;faUf[g$de_f 4\g%eaZc`d[gZf`Yd^eg`f_g:\E\>\*\g]f_ EcUV`fg]dg8eUfRdeg;faUf[gYfRdc`f :dZeY^ac[ge_gNcP_dcg]dgUeXXegSK[gX\__e SWIHgYVO\gFQ\g1V__9eafegd`YdY^fgNeOOadL Ze^cgeOVYdJcgfg`c`gZc`]c`eOd_f.\ #6944:;.819;fVacgKF\WWW[WW =N^1GE9G^JECB1J^EB@B^C G^ND^0G ^ J^=@J*NDN@B^C G^DJ^5GE9N@J^ J55GE0J^^JDDG^=G0,GE@N^CBE9N%NBEN 5GE9N@J^^CBE^NECJE@B F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f^FZ_d KF\WWW[WW YF_^f`^`daad^Zbf[dI^^ b _fg cNNfa^fg d`g eVUf`^c[g eg Xf`eg ]d d`eUUdYYdOd_d^=[g`c`g]fJc`cgfYYfaf d`Nfadcadge_gG#g]f_gXafRRcgOeYfDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F`

VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_Fbaf^8]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTd<^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^ e[KZf]aeafI^ ;^ Yd]]fOf`FW^ YF_^ f Ye_aF[fYebaf^e``F^e]aFW^daaFbF_F^XZaZf^e ae]]f^F^[db\fUfdbf^F[dbdXf[LF^Y_F]aeOfQ `faf^\e^dVbf^]fbVd`e^Oeb[e^e\F_FbaF^Y_dQ ad[d``d^$J*N#^YF_^`e^[db[F]]fdbF^\f^XZaZf eV`f^eVVfZ\f[eae_fI^`PF`Fb[d^\F``F^Oeb[LF e\F_Fbaf^e``PfbfUfeafTe^YF_^f`^@_fOZbe`F^\f DeXFUfe^ @F_XF^ ;^ _FYF_fOf`F^ Y_F]]d^ `e Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTF\TS\SWTS[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg TI\TS\SWTS[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F

\F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H6^=FaaFXO_F^>AH>^ A_g+V`Rdc`eadcg4dV]dRdeadc :77*118;-9:52)!8; :58!!2: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`\gSQBIFg6\4\>\W [db^Y_dTTF\fXFbad^e]]Zbad^e``PZ\fFbUe^\F` H6RA6R>AH>^Le^\f]Yd]ad^`e^TFb\fae^]FbUe^fbQ [ebad^\Ff^`daaf^HW^>W^4W^/W^?^F^-^bF``d^]aead^\f Seaad^ F^ \f^ \f_faad^ fb^ [Zf^ ]f^ a_dTebd^ YF_^ f` A6RAHR>AH4W^F\^Le^Sf]]ead^YF_^f`^[e]d^fb^[Zf^`e ]aF]]e^ bdb^ eOOfe^ `ZdVd^ `e^ TFb\fae^ [db^ fbQ [ebad^\Ff^XF\F]fXf^`daaf^bF``d^]aead^\f^Seaad^F \f^ \f_faad^ fb^ [Zf^ ]f^ a_dTebd^ YF_^ `PZ\fFbUe^ \F` >4RAHR>AH4I ._d[F\F_]f^e``e^TFb\fae^]FbUe^fb[ebad^\Ff^]FQ VZFbaf^fXXdOf`f) -:77:; ; /eXXfRReUf`^cg]dg^faaf`cgZc`gYcL JaeY^e`^fgNeOOadZe^cgaVae_fgYd^cgd`g)fL Zc__e^Vae[g_cZe_d^=g8dea]d[gadXca^e^cg`f_ :E;g]dg]f^^cgZcUV`fge_gNcP_dcgG[gX\__e QKT[g XeYZc_cg eaOcae^c[g U?\g KTI[g f X\__egQKQ[geJf`^fgZc`YdY^f`RegXeadge U?\gTTH.D #6944:;.819;! 8178 <gK\ISW[TS -:77:; ; /eXXfRReUf`^cg]dg^faaf`cgYd^cgd` )fZc__e^Vae[g_cZe_d^=g8dea]d[gadXca^e^c `f_g:E;g]dg]f^^cgEcUV`fge_gNcP_dcgG[ X\__egQKK[gfY^fYcgXfagU?\gMSHW.D #6944:;.819;! 8178 <gK\KGG[TH -:77:; ; /eXXfRReUf`^cg]dg^faaf`cgYd^cgd` )fZc__e^Vae[g_cZe_d^=g8dea]d[gadXca^e^c `f_g:E;g]dg]f^^cgEcUV`fge_gNcP_dcgG[ X\__egQMQ[gfY^fYcgXfagU?\gTQWW.D #6944:;.819;! 8178 <gH\THI[IS -:77:; ; /eXXfRReUf`^cg]dg^faaf`cgYd^cgd` )fZc__e^Vae[g_cZe_d^=g8dea]d[gadXca^e^c `f_g:E;g]dg]f^^cgEcUV`fge_gNcP_dcgG[ X\__fg HTMg fg GM[g fY^fYcg Xfag U?\g SSHT ZdaZe.D #6944:;.819;! 8178 <gTW\HTH[ST -:77:; ; /eXXfRReUf`^cg]dg^faaf`cgYd^cgd`


)fZc__e^Vae[g_cZe_d^=g8dea]d[gadXca^e^c `f_g:E;g]dg]f^^cgEcUV`fge_gNcP_dcgG[ X\__egQH[gfY^fYcgXfagU?\gSSW.D #6944:;.819;! 8178 <gTGK[WQ -:77:; ; /NeOOadZe^cgXfagZdJd_fgeOd^eRdc`f eg]VfgXde`dgNVcadg^faaegYd^cgd`g)fZc__eL ^Vae[g_cZe_d^=g8dea]d[gY`Z[gZc`gYVXfaNdL Zdfg_ca]egZcXfa^eg]dgZdaZegSMQ[FHgU?\[ ]dgZVdgMIgU?\g8ca]dg]fY^d`e^dgeg_fP`ede fgTI[QFgU?\g_ca]dgegPeaePf\g89dUUcL Od_fg-gadXca^e^cg`f_g:E>*g]dg]f^^cgEcL UV`fge_gNcP_dcgG[gX\__egHTH[gZe^\g@BQ[ Z_eYYfgS[gJe`dgG.\ #6944:;.819;! 8178;<gSM\TFM[IK =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^=@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG^ JDDG^=G0,GE@N^CBE9N%NBEN c [fe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7HW [dXXe^ HW^ [RYR[RW^ a_ebbF^ f`^ \FOfad_FW^ ; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_dQ [Z_ead_F^`FVe`FW^eb[LF^e^bd_Xe^\F``Pe_aR ?76W^[dXXe^4W^[RYR[R^8f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad \f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW bdb^F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^XebQ \ead^e``F^`fafI^bF``PfYdaF]f^\f^[Zf^e`^[faead e_aR^?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F _f]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^eZaFbaf[eae^\dT_M^F]]F_F^\FYd]fQ aead^[dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF \F`^bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaQ aZe_]f^ bF`^ aF_XfbF^ \f^ [Zf^ e``Pe_aR^ ?:4W [dXXe^HW^[RYR[R<W^Y_F]Fbaeb\d^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_fW^\f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e^Y_dQ [F\Z_eW^\F`^OFbF^8F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``3dSSF_aeI c \Faae^\f[Lfe_eUfdbF^\FTFW^e`a_F] W^_F[e_F `F^ VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e f^[dbfZVfI^fb^[e]d^\f^[dXZbfdbF^`FVe`F \Ff^OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFQ bF_e`faM^ \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e` SfbF^\f^YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d KZdaeW^ f`^ OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eQ UfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d YF_]dbe`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FQ VfXF^ \f^ [dXZbfdbF^ \Ff^ OFbfW^ d[[d__F Y_d\Z__FW^d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZFQ ]aPZ`afXdW^F"^e_aR^H76W^[dXXe^HW^`FaaR^SW [d\R^[fTRW^KZF``e^\F`^[dbfZVF^bdb^e[KZfQ _FbaF^ \f^ [Zf^ e`^ ]F[db\d^ [dXXe^ \F``e XF\F]fXe^ \f]Yd]fUfdbF^ bd_XeafTe<W `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXe^F\^F]]F_F [d__F\eae^\e^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F``PdSSF_FbaF^FW^]F^bF[F]]eQ _fdW^\e^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c `PdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI c fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI c `PdSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^HR^f` VfZ\f[F^d_\fbf^`Pfb[ebadI^>R^]febd^\F[d_]f [FbadTFbaf^ Vfd_bf^ \e``e^ ]Ze^ Y_F]FbaeQ UfdbF^F^`e^]aF]]e^bdb^]fe^]aeae^e[[d`aeI c `3dSSF_ae^bdb^;^FSSf[e[F)^H<^]F^YF_TfFbF d`a_F^f`^aF_XfbF^]aeOf`fadI^><^]F^;^fbSF_fd_F e`^Y_FUUd^\FaF_Xfbead^e^bd_Xe^\F``3e_afQ [d`d^?-:^F^Yf&^]dY_e^_f[d_\eadI^[<^]F^`3dSQ SF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e^XFUUd \f^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbQ aF]aead^e^$.d]aF^Nae`febF^]Ye#W^fb^Xf]Z_e bdb^fbSF_fd_F^e`^\F[fXd^\F`^Y_FUUd^\e^`Zf Y_dYd]adI c e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `3F]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``3Z\fFbUe^Sf]]eae^YF_^`3F]eXF^\F``F^dSQ

*

c

c

c

c c

c

c

c

SF_aFW^e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI^bF`^[e]d^\f^Xeb[eae^[dXYeQ _fUfdbF^ \F``PdSSF_FbaF^ d^ \FV`f^ dSSF_Fbaf `PeVVfZ\f[eUfdbF^]e_M^[dXZbKZF^\f]YdQ ]aeW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?7>W^[dXXf^>^F^4W [RYR[RI^ fb^ [e]d^ \f^ Yf&^ dSSF_aF^ Te`f\FW^ ]f Y_d[F\F_M^e^Ve_e^]Z``PdSSF_ae^Yf&^e`ae^]FQ [db\d^f`^]f]aFXe^\F``F^][LF\F^d^OZ]aF ]FV_FaFW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F`Q `Pe_aR^?74W^[dXXe^>W^[RYR[RI^^^^^ fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $+dbaF^ \Ff^ .e][Lf^ \f^ =fFbe =RYRJR#^ ^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd [LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^ e_aR^ ?7H^ [RYR[RI^ \Faad^ e[[_F\fad \FTF^eTF_F^`ZdVd^bdb^d`a_F^[fbKZF^Vfd_bf Y_fXe^\F``e^][e\FbUe^\F`^aF_XfbF^Fba_d f`^KZe`F^Yd]]dbd^F]]F_F^Y_dYd]aF^`F^dSQ SF_aF^ \3e[KZf]adI^ Sfb^ \Pd_e^ ]f^ Y_FTF\F [LFW^KZeb\d^`3dSSF_ae^;^Y_F]Fbaeae^[db `F^Xd\e`faM^e`aF_beafTFW^f`^aF_XfbF^YF_^f` TF_]eXFbad^\F`^Y_FUUd^F^\f^dVbf^e`a_e ]dXXe^;^\f^bdTebae^Vfd_bfI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ KZebad^e``PFTFbaZe`FW^]Z[[F]]fTe^TFbQ \fae^eV`f^fb[ebaf) F]]e^\FTF^eTF_^`ZdVd^YF_^f`^`daad^H^e` 6944:; .819 \f^ fVacg K\ISW[TSD YF_^ f` `daad^ >^ e); 6944:; .819; ! 8178; \f^ fVac K\KGG[THI^^YF_^f`^`daad^4^e`^ 6944:;.819 ! 8178 \f^fVacgH\THI[ISD YF_^f`^`daad^/^e` 6944:;.819;! 8178 \f^fVacgTW\HTH[STD YF_^f`^`daad^[fbKZF^e`^ 6944:;.819;! 8178 \f^fVacgTGK[WQD YF_^f`^`daad^-^e`^ 6944: .819;! 8178 \f^fVacgSM\TFM[IKD `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^<gMSM[WW[gWW YF_^f`^`daad^bR^HI^e\^fVac KFG[MgYF_^f`^`daad^bR^>^F^e\^fVacgHGM[WW YF_^f`^`daad^bR^4W^e\^fVacgT\TSM[WW YF_^f` `daad^bR^/W^e\^fVacgTM[WW YF_^f`^`daad^bR^?W e\^fVacgS\HSM[WW YF_^f`^`daad^bR^-I dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ

c

c

c c

c

c

c

c

c

c

c

bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI^e bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTTFQ bZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_F]FbQ aeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^bdb^]ZYF_e^\f^H2?^KZF``d^_eVVfZbad bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW^YF_aebadW \fTF__M^ \FSfbfafTe^ dTFW^ \F[d_]f^ \fF[f Vfd_bfW^ bdb^ ]febd^ ]aeaF^ Y_F]FbaeaF^ dSQ SF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_Fbaf^8]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTd<^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbFI^ fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d

`e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H [RYR[RW^\F`^[dXYFb\fd^fXXdOf`fe_F^]dY_e fb\f[ead^ F^ XFV`fd^ \F][_faad^ bF``e^ _F`eQ UfdbF^\F``PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se F]Y_F]]d^ _f[LfeXdW^ KZe`F^ Ye_aF^ fbaFQ V_ebaF^F^]d]aebUfe`F^\F``e^Y_F]FbaF^d_Q \fbebUeW^^faUd`fgNd`cge__fgcafTQ\WWg]f_ WF\WT\SWTQ[ggZc`g_fgUc]e_d^=gfgXfagd_ XafRRcgOeYfg]dgZVdgYcXaeD b -gNdYYe^e[gXfag_9fYeUfg]f__fgcNNfa^fg]d eZ?VdY^c[gedgYf`Ydg]f__9ea^\gMGSgZ\X\Z\[ cJJfacgXfag_egPeaegYV__fgUf]fYdUf[ YfgXafYf`^e^fgd`gUdYVaegYVXfadcafge] V`e[g edg Yf`Ydg ]f__9ea^\g MGQg Z\X\Z\[ _9V]df`Reg ]f_g WI\WT\SWTQ[g cafg I\QWg f YfPP\D EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_fgUcL ]e_d^=g fg Xfag d_g XafRRcg Ud`dUcg ]dg ZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafgI\QWgfgYfPP\g[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^>A^]FaaFXO_F^>AH>R A8gE@:E>88A>6>g2EBT5 6'58; 96586!2


:\6\4\>\gIBSWWGg Q^=G%R^G=R^N++R^ ND^0N,9NCG^9GDD3G=GC,%NBEG DFaaf^V`f^eaaf^\F`^Y_d[F\fXFbadI Y_F]d^eaad^\F``3f]aebUe^\f^TFb\fae^Sd_XZ`eae \e`^[_F\fad_F^Y_d[F\FbaFI _f`FTead^[LF^[Z]ad\f^\Ff^OFbf^YfVbd_eaf^]dbd^f \FOfad_fI _faFbZad^ \f^ YdaF_^ [db\fTf\F_F^ F^ Y_Fb\F_F^ e Sdb\eXFbad^\F`^Y_d]fFVZd^\F``e^Y_d[F\Z_e^`F [db[`Z]fdbf^\F``e^_F`eUfdbF^\F``3F]YF_adW^fb^d_Q \fbF^]fe^e``3fb\fTf\ZeUfdbF^\F`^[dXYFb\fd^fXQ XdOf`fe_F^[LF^\F``e^]afXe^\Ff^_F`eafTd^Te`d_F \f^XF_[eadI _eTTf]eaFW^YF_aebadW^`F^[db\fUfdbf^YF_^Y_d[FQ \F_FW^ef^]Fb]f^\FV`f^e_aaR^?-6W^?7H^F^?7-^[RYR[RW [dXF^bdTF``eaf^\e``F^`FVVf^:A2>AA?W^>-42>AA? F^?H2>AA-I B19NEJ YF_^f`^Vfd_bd^TIg]dZfUOafgSWTS[gcafgI\QW[ `e TFb\fae^[db^fb[ebad^\Ff^^]FVZFbaf^fXXdOf`f) ):77:;!'9 Q +eOOadZe^cgaVae_fg]dgU?\gTTK[ e]dOd^cgZeYegZc_c`dZe[gXcY^cgegOafJf ]dY^e`Reg ]e_g Zf`^acg Y^cadZcg ]f_g EcL UV`fg]dg1faaeY^af^^egfgadXca^e^cg`f_ :E;ge_gNcP_dcgQ[gX\__egTQWMD 6944:;.819;! 8178 <gH\KMW[WW ):77:;769; ; g0de`cgYfUd`^faae^cg]dgV`gZc`L YdY^f`^fgNeOOadZe^cgeg^afgXde`dg2c_^af Yc^^c^f^^c5[g Xde`cg YfUd`^faae^cg f Xde`cg ^faaeg ]dg V`g NeOOadZe^cg ]dg Xd Uc]fY^fg ]dUf`Ydc`dg e]deZf`^fg e_ XadUcgfg^faaf`cg_dUd^acNcgd`gXea^fgVaL Oe`dRRe^c\g AAg ^V^^cg -g adXca^e^cg `f_ :E>*g]f_gEcUV`fg]dg)fZc__e^Vae[g8cL Ze_d^=g%eZZ3de[ge_gNcP_dcgGI[gX\__egSHS[ YVO\gQ[gXde`cg1TgL;[gEBS[gZ_eYYfgT[gZc`L YdY^f`RegQSHgU?[g`c`Z3 g`f_g:E;g]f_ Uf]fYdUcgZcUV`fge_gNcP_dcgGI[gX\__f QGT[gQIT[gQIS[gQIQD 6944:;.819;! 8178 <gTKK\GMW[WW ):77:; '8776:; ; 0de`cg^faae[gXadUcgfgYc^^cL ^f^^cg]dgV`gZc`YdY^f`^fgNeOOadZe^cge ^afgXde`dgNVcadg^faae[gc_^afgYc^^c^f^^c\gA_ ZcUXf`]dc[g eJf`^fg V`eg YVXfaNdZdf ZcUUfaZde_fg ]dg U?g GST[g -g adXca^e^c `f_g:E>*g]f_gZcUV`fg]dg)fZc__e^Vae[ 8cZe_d^=g %eZZ3de[g e_g NcP_dcg GI[g X\__e SHS[gYVO\gK[gXde`cg;LS[gd`gZcaYcg]dgZcL Y^aVRdc`f[gYVO\gM[gXde`cg;LS[gd`gZcaYc ]dg ZcY^aVRdc`f[g YVO\g H[g Xde`cg TLS[ Z_eYYfgQ[gJe`dgG[MgfgYVO\gG[gXde`cgTLS[ d`gZcaYcg]dgZcY^aVRdc`fD 6944:;.819;! 8178 <gTTQ\GWW[WW ):77:; $25 '9; @XXfRReUf`^cg ]dg ^faaf`c ePadZc_cgYd^cgd`g1faaeY^af^^e[g8cZe_d^= $d^fae_f[g adXca^e^cg `f_g :E;g e_g NcP_dc SW[gX\__egSMW[g]dgU?\gS\TWW[ge_gNcP_dcgST[ X\__egSSg]dgU?\gMSHWD 6944:;.819;! 8178;<gK\FGM[WW ):77:;192; @XXfRReUf`^cg]dg^faaf`cgePadL Zc_cg Yd^cg d`g 0_e^e`de[g adXca^e^cg `f_ :E;g e_g NcP_dcg SM[g X\__eg MKHg ]dg U?\ S\GWW[gX\__egMKGg]dgU?\gGM[gX\__egMKFg]d U?\gTWW[gX\__egMMSg]dgU?\gSWG[gX\__egMMQ ]dgU?\gQ[gX\__egQTGg]dgU?\gHW[gX\__egTWK ]dgU?\gT\MHG[gX\__egTHGg]dgU?\gSFgfgX\__e KWGg]dgU?\gQWW\ 6944:;.819;! 8178 <gK\HMW[WW c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^f^F Te`Zaeaf^\e``3F]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^e^KZdaF^[db\dXfbfe`f^_F`eafTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^ c FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c db]FVZFbaFXFbaF^`3F]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^VFbF_F^QfTf^[dXY_F]f^QW^e\^F]R KZF``f^ Z_Oebf]af[f^ dTTF_d^ \F_fTebaf^ \e`Q `3FTFbaZe`F^bF[F]]faM^\f^e\FVZeXFbad^\f fXYfebaf^e``F^`FVVf^TfVFbafW^]YF]F^[db\dQ Xfbfe`f^ \F``3ebbd^ fb^ [d_]d^ F^ \F``3ebbd Y_F[F\FbaF^bdb^YeVeaF^\e`^\FOfad_F^QW YF_^ KZe`]fe]f^ XdafTd^ bdb^ [db]f\F_eafW eb[LF^]F^d[[Z`af^F^[dXZbKZF^bdb^FTfQ \FbUfeaf^ fb^ YF_fUfeW^ bdb^ Yda_ebbd^ \e_ `ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbbfaM d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f^\f^[f aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff^OFbfR b 'P`dg Zc`Zcaaf`^f[g Xfag fYYfafg eUL UfYYcge__ d`Ze`^c[g]fJfgXafYf`^eaf[ f`^acg _fg cafg TQ\WWg ]f_g Pdca`cg TFg ]dL ZfUOafgSWTS[g`f__egEe`Zf__fadeg]f__f >YfZVRdc`dg AUUcOd_dead[g dY^e`Reg ]d Xea^fZdXeRdc`f[gfb^_FVd`e^[db^f`^Od``dW _F[ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eQ UfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e^Y_d[FQ \Z_eW^f`^OFbF^d^f`^`daad^[Zf^`3f]aebUe^]aF]]e

( ]f^_fSF_f][FW^`F^Y_dY_fF^VFbF_e`faM^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F [dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e^f^[dQ bfZVf<R^ c J``3f]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^ [eXF_e`F<R^ Nb^ [e]d^ \f^ \f[Lfe_eQ UfdbF^\f^Ye_aF[fYeUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^\FTF^F]]F_F^fb\f[ead^[d`Zf [LF^eOOfe^`3F][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadR c Cdb^`3f]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^fbaF]aead^e``F^ .d]aF Nae`febF^]RYReR W^a_eXfaF^[Zf^FSSFaaZe_F^f` TF_]eXFbad^\F``e^[eZUfdbF^8F\^fb^[dbad Y_FUUd^\f^eVVfZ\f[eUfdbF<W^fb^_eVfdbF^\f Zb^\F[fXd^\F`^Y_FUUd^Oe]F^\3e]aeR^J`Q `3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^Ceb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ [f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` 0fZ\f[F^\F``3F]F[ZUfdbF^F^`e^\eae^\F`Q `3Z\fFbUe^Sf]]eae^YF_^`e^TFb\faeI^ c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^YF_^`3fb[ebad^e``e^Y_F]FbUe^\FV`f^dSQ SF_FbafW^dTF^[dXYe_]fR^^ c DF^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^ fVacg KWW[WWg YF_^ f`^ `daad^ bR`I^ e\^ < QWW[WW YF_^f`^`daad^bR>I^e\^<gI\WWW[WWgYF_ f`^`daad^bR4I^e\^fVacgG\WWW[WWgYF_^f`^`daad bR^/I^e\^fVacgSMW[WW YF_^f`^`daad^bR?^F^e\ <gSKW[WW YF_^f`^`daad^bR-R^N`^YeVeXFbad \F`^Y_FUUd^\f^eVVfZ\f[eUfdbFW^\F\daae^`e [eZUfdbF^VfM^Y_F]aeaeW^\FTF^F]]F_F^FSQ SFaaZead^\e``3eVVfZ\f[eae_fd^bF``e^Ceb[F`Q `F_fe^\F``F^F]F[ZUfdbf^NXXdOf`fe_f^Fba_d f`^]F]]ebaF]fXe^Vfd_bd^\e``e^\eae^\f^eVQ VfZ\f[eUfdbFW^XF\febaF^e]]FVbd^[f_[dQ `e_F^fbaF]aead^e``F^ .d]aF^Nae`febF^]RYReR c =d`aebad^e``3F]fad^\F``3e\FXYfXFbad^Y_FQ [F\FbaFW^\F``e^Y_d\ZUfdbF^\f^eVVfd_beaf [F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_beaf^[F_afSfQ [eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fUfdbf FSSFaaZeaF^ ]Z`^ OFbF^ bdb[L'^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``3eVVfZ\f[eae_fdW^[Zf^_F]aebd^_fQ ]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_^`e^[eb[F`Q `eUfdbF^\F``F^Sd_Xe`faMW^]e_M^FXF]]d^f` \F[_Fad^ \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F`Q `3e_aR^?:-^[RYR[RR c De^YZOO`f[faM^\F``e^Y_F]FbaF^d_\fbebUe \f^TFb\fae^\FTF^F]]F_F^FSSFaaZeae^bF`^aF_Q XfbF^\f^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebad^XF\febaF eSSf]]fdbFW^]Z^fXYZ`]d^\Ff^[_F\fad_F^Y_dQ [F\FbaFW^\e^Ye_aF^\F``e^Y_F\Faae^CebQ [F``F_feW^bF``3e`Od^\f^KZF]ad^@_fOZbe`FW^\f Zb^eTTf]d^[dbaFbFbaF^aZaaf^f^\eaf^_fYd_aeaf bF``e^ Y_F]FbaF^ d_\fbebUe^ F^ XF\febaF YZOO`f[eUfdbF^]Z^._dVFaad^ J]aF^+F\feQ aeV R DeXFUfe^@F_XFW^H6^]FaaFXO_F^>AH> A_gEe`Zf__dfaf A_g4dV]dZfg]f__ >YfZVRdc`f CCCCC :\6\4\>\gSMBIG Q=G%R^G=R^N++RQ ND^0N,9NCG^9GDDPG=GC,%NBEG DFaaf^V`f^eaaf^\F`^Y_d[F\fXFbad^F]F[ZafTdI Y_F]d^eaad^\F``Pf]aebUe^\f^TFb\fae^Sd_XZ`eae \e`^[_F\fad_F^Y_d[F\FbaFI _f`FTead^[LF^[Z]ad\F^\F`^OFbF^YfVbd_ead^;^`e \FOfa_f[FI _faFbZad^ \f^ YdaF_^ [db\fTf\F_F^ F^ Y_Fb\F_F^ e Sdb\eXFbad^\F`^Y_d]fFVZd^\F``e^Y_d[F\Z_e^`F [db[`Z]fdbf^\F``e^_F`eUfdbF^\F``PF]YF_adW^fb^d_Q \fbF^]fe^e``Pfb\fTf\ZeUfdbF^\F`^[dXYFb\fd^fXQ XdOf`fe_F^[LF^\F``e^]afXe^\F`^_F`eafTd^Te`d_F \f^XF_[eadI _eTTf]eaFW^YF_aebadW^`F^[db\fUfdbf^YF_^Y_d[FQ \F_FW^ef^]Fb]f^\FV`f^e_aaR^?-6W^?7H^F^?7-^[RYR[RW [dXF^bdTF``eaf^\e``F^`FVVf^:A2>AA?W^>-42>AA? F^?H2>AA-I B19NEJ YF_^f`^Vfd_bd^TIg]dZfUOafgSWTS[gcafgI\QW[g`e TFb\fae^[db^fb[ebad^\F`^]FVZFbaF^OFbF^fXQ XdOf`F) ):77:;'52$:/ /@XXfRReUf`^cg]dg^faaf`cg]d FQWKgU?\[gYd^cgd`g4dRRfade[g8cZe_d^=g%dL ae`]f__e[gadXca^e^cg`f_g:E;g]dg^e_fgEcL UV`fge_gNcP_dcgSW[gX\__fgTFS[gTFK[gTFM[ TII[gSWW[gSWT[gSWS[gSWQ.gD c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db

dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^e^KZdaF^[db\dXfbfe`f^_F`eafTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^VFbF_F^ fTf^[dXY_F]f^QW^e\^F]R KZF``f^ Z_Oebf]af[f^ dTTF_d^ \F_fTebaf^ \e`Q `PFTFbaZe`F^bF[F]]faM^\f^e\FVZeXFbad \f^fXYfebaf^e``F^`FVVf^TfVFbafW^]YF]F^[dbQ \dXfbfe`f^\F``Pebbd^fb^[d_]d^F^\F``Pebbd Y_F[F\FbaF^bdb^YeVeaF^\e`^\FOfad_F^QW YF_^ KZe`]fe]f^ XdafTd^ bdb^ [db]f\F_eafW eb[LF^]F^d[[Z`af^F^[dXZbKZF^bdb^FTfQ \FbUfeaf^ fb^ YF_fUfeW^ bdb^ Yda_ebbd^ \e_ `ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbbfaM d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f^\f^[f aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff^OFbfR N`^ 6944:;.819;! 8178 ;^\f^fVacgSK\ITS[WW\ b 'P`dg Zc`Zcaaf`^f[g Xfag fYYfafg eUL UfYYcge__9d`Ze`^c[g]fJfgXafYf`^eaf[ f`^acg _fg cafg TQ\WWg ]f_g Pdca`cg TFg ]dL ZfUOafgSWTS[g`f__egEe`Zf__fadeg]f__f >YfZVRdc`dg AUUcOd_dead[g dY^e`Reg ]d Xea^fZdXeRdc`f[gfb^_FVd`e^[db^f`^Od``dW _F[ebaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\f[eQ UfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e^Y_d[FQ \Z_eW^f`^OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e ]f^_fSF_f][FW^`F^Y_dY_fF^VFbF_e`faM^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F [dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e^f^[dQ bfZVf<R^ c J``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^ [eXF_e`F<R^ Nb^ [e]d^ \f^ \f[Lfe_eQ UfdbF^\f^Ye_aF[fYeUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^\FTF^F]]F_F^fb\f[ead^[d`Zf [LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadR c Cdb^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^fbaF]aead^e``F^$.d]aF Nae`febF^]RYReR#W^a_eXfaF^[Zf^FSSFaaZe_F^f` TF_]eXFbad^\F``e^[eZUfdbF^8F\^fb^[dbad Y_FUUd^\f^eVVfZ\f[eUfdbF<W^fb^_eVfdbF^\f Zb^\F[fXd^\F`^Y_FUUd^Oe]F^\Pe]aeR c J``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^ [Z_e^ \F`^ Ceb[F``fF_F^ _f[FTFbaFW^ f` bdXFW^Y_FTfe^f\FbafSf[eUfdbFW^[f^[Lf^XeQ aF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYd]fadW^ f` bdXF^\F`^0fZ\f[F^\F``PF]F[ZUfdbF^F^`e \eae^\F``PZ\fFbUe^Sf]]eae^YF_^`e^TFb\faeI^ c `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ Of`fae^YF_^`Pfb[ebad^e``e^Y_F]FbUe^\FV`f^dSQ SF_FbafW^dTF^[dXYe_]fR c DF :%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^fVacgT\SWW[WWg c N`^YeVeXFbad^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^\F\daae^`e^[eZUfdbF^VfM^Y_F]aeaeW \FTF^F]]F_F^FSSFaaZead^\e``PeVVfZ\f[eaeQ _fd^ bF``e^ Ceb[F``F_fe^ \F``F^ F]F[ZUfdbf NXXdOf`fe_f^Fba_d^f`^]F]]ebaF]fXd^Vfd_bd \e``e^\eae^\f^eVVfZ\f[eUfdbFW^XF\febaF e]]FVbd^[f_[d`e_F^fbaF]aead^e``F^$.d]aF Nae`febF^]RYReR# c =d`aebad^e``PF]fad^\F``Pe\FXYfXFbad^Y_FQ [F\FbaFW^\F``e^Y_d\ZUfdbF^\f^eVVfd_beaf [F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_beaf^[F_afSfQ [eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fUfdbf FSSFaaZeaF^ ]Z`^ OFbF^ bdb[L'^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``PeVVfZ\f[eae_fdW^[Zf^_F]aebd^_fQ ]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_^`e^[eb[F`Q `eUfdbF^\F``F^Sd_Xe`faMW^]e_M^FXF]]d^f` \F[_Fad^ \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F`Q `Pe_aR^?:-^[RYR[RR c De^Y_F]FbaF^d_\fbebUe^\f^TFb\fae^\FTF F]]F_F^ YZOO`f[eae^ bF`^ aF_XfbF^ \f^ KZeQ

_ebae[fbKZF^Vfd_bf^Y_fXe^\F``e^\eae^Sf]Q ]eae^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aFW d`a_F^[LF^bF``F^Sd_XF^\f^`FVVFW^]Z^$._dQ VFaad^J]aF^+F\feaeV#R DeXFUfe^@F_XFW^H6^]FaaFXO_F^>AH>R A_gEe`Zf__dfaf A_g4dV]dZfg]f__9>YfZVRdc`f CCCCC :\6\4\>\gKQBWM Q=G%R^G=R^N++RQ ND^0N,9NCG^9GDDPG=GC,%NBEG DFaaf^V`f^eaaf^\F`^Y_d[F\fXFbad^F]F[ZafTdI Y_F]d^eaad^\F``Pf]aebUe^\f^TFb\fae^Sd_XZ`eae \e`^[_F\fad_F^Y_d[F\FbaFI _f`FTead^ [LF^ [Z]ad\F^ \F`^ OFbF^ YfVbd_ead^ ;W dYF^`FVf]W^`e^CZ_eaF`e^Se``fXFbae_FfI _faFbZad^ \f^ YdaF_^ [db\fTf\F_F^ F^ Y_Fb\F_F^ e Sdb\eXFbad^\F`^Y_d]fFVZd^\F``e^Y_d[F\Z_e^`F [db[`Z]fdbf^\F``e^_F`eUfdbF^\F``PF]YF_adW^fb^d_Q \fbF^]fe^e``Pfb\fTf\ZeUfdbF^\F`^[dXYFb\fd^fXQ XdOf`fe_F^[LF^\F``e^]afXe^\F`^_F`eafTd^Te`d_F \f^XF_[eadI _eTTf]eaFW^YF_aebadW^`F^[db\fUfdbf^YF_^Y_d[FQ \F_FW^ef^]Fb]f^\FV`f^e_aaR^?-6W^?7H^F^?7-^[RYR[RW [dXF^bdTF``eaf^\e``F^`FVVf^:A2>AA?W^>-42>AA? F^?H2>AA-I B19NEJ YF_^f`^Vfd_bd^TIg]dZfUOafgSWTS[gcafgI\QW[ `e TFb\fae^[db^fb[ebad^\F`^]FVZFbaF^OFbF) ):77:;'52$:/ /EeXe``c`fge]gVYcgea^dPde`e_f Zc`ge``fYYcg^faaf`cgYd^cgd`g)fZc__eL ^Vae[gadXca^e^cg`f_g:E>*g]dg]f^^cgEcL UV`fge_gNcP_dcgGI[gX\__fgQMT[gZe^\gEBQ[ U?\TMQ[g QMQ[g Ze^\g EBQ[g U?\g QHI[g QFI 2f"gX\__egQMS5gfgQIWg2f"gX\__egQMS5D c DP^fXXdOf`F^TfFbF^Yd]ad^fb^TFb\fae^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTeW [d] ^[dXF^f\FbafSf[eadW^\F][_faad^F^Te`ZQ aead^ \e``PF]YF_ad^ bF``e^ _F`eUfdbFW^ [db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^e^KZdaF^[db\dXfbfe`f^_F`eafTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^VFbF_F^ fTf^[dXY_F]f^QW^e\^F]R KZF``f^ Z_Oebf]af[f^ dTTF_d^ \F_fTebaf^ \e`Q `PFTFbaZe`F^bF[F]]faM^\f^e\FVZeXFbad \f^fXYfebaf^e``F^`FVVf^TfVFbafW^]YF]F^[dbQ \dXfbfe`f^\F``Pebbd^fb^[d_]d^F^\F``Pebbd Y_F[F\FbaF^bdb^YeVeaF^\e`^\FOfad_F^QW YF_^ KZe`]fe]f^ XdafTd^ bdb^ [db]f\F_eafW eb[LF^]F^d[[Z`af^F^[dXZbKZF^bdb^FTfQ \FbUfeaf^ fb^ YF_fUfeW^ bdb^ Yda_ebbd^ \e_ `ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbbfaM d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f^\f^[f aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff^OFbfR N`^ 6944:;.819;! 8178 ;^\f fVacgGH\QMK[GQ\ b 'P`dg Zc`Zcaaf`^f[g Xfag fYYfafg eUL UfYYcge__9d`Ze`^c[g]fJfgXafYf`^eaf[ f`^acg _fg cafg TQ\WWg ]f_g Pdca`cg TFg ]dL ZfUOafgSWTS[g`f__egEe`Zf__fadeg]f__f >YfZVRdc`dg AUUcOd_dead[g dY^e`Reg ]d Xea^fZdXeRdc`f[gfb^_FVd`e^[db^f`^Od``dW _F[ebaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\f[eQ UfdbF^\F`^bZXF_d^\f^1R0RGR^\F``e^Y_d[FQ \Z_eW^f`^OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e ]f^_fSF_f][FW^`F^Y_dY_fF^VFbF_e`faM^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F [dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e^f^[dQ bfZVf<R c J``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^ [eXF_e`F<R^ Nb^ [e]d^ \f^ \f[Lfe_eQ UfdbF^\f^Ye_aF[fYeUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^\FTF^F]]F_F^fb\f[ead^[d`Zf [LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadR c Cdb^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^fbaF]aead^e``F^$.d]aF Nae`febF^]RYReR#W^a_eXfaF^[Zf^FSSFaaZe_F^f` TF_]eXFbad^\F``e^[eZUfdbF^8F\^fb^[dbad Y_FUUd^\f^eVVfZ\f[eUfdbF<W^fb^_eVfdbF^\f Zb^\F[fXd^\F`^Y_FUUd^Oe]F^\Pe]aeR c J``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^ [Z_e^ \F`^ Ceb[F``fF_F^ _f[FTFbaFW^ f` bdXFW^Y_FTfe^f\FbafSf[eUfdbFW^[f^[Lf^XeQ aF_fe`XFbaF^ Y_dTTF\F^ e`^ \FYd]fadW^ f` bdXF^\F`^0fZ\f[F^\F``PF]F[ZUfdbF^F^`e \eae^\F``PZ\fFbUe^Sf]]eae^YF_^`e^TFb\faeI `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ


Of`fae^YF_^`Pfb[ebad^e``e^Y_F]FbUe^\FV`f^dSQ SF_FbafW^dTF^[dXYe_]fR c DF^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^fVacgGGHW[WW\g c N`^YeVeXFbad^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^\F\daae^`e^[eZUfdbF^VfM^Y_F]aeaeW \FTF^F]]F_F^FSSFaaZead^\e``PeVVfZ\f[eaeQ _fd^ bF``e^ Ceb[F``F_fe^ \F``F^ F]F[ZUfdbf NXXdOf`fe_f^Fba_d^f`^]F]]ebaF]fXd^Vfd_bd \e``e^\eae^\f^eVVfZ\f[eUfdbFW^XF\febaF e]]FVbd^[f_[d`e_F^fbaF]aead^e``F^$.d]aF Nae`febF^]RYReR# c =d`aebad^e``PF]fad^\F``Pe\FXYfXFbad^Y_FQ [F\FbaFW^\F``e^Y_d\ZUfdbF^\f^eVVfd_beaf [F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_beaf^[F_afSfQ [eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fUfdbf FSSFaaZeaF^ ]Z`^ OFbF^ bdb[L'^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``PeVVfZ\f[eae_fdW^[Zf^_F]aebd^_fQ ]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_^`e^[eb[F`Q `eUfdbF^\F``F^Sd_Xe`faMW^]e_M^FXF]]d^f` \F[_Fad^ \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F`Q `Pe_aR^?:-^[RYR[RR c De^Y_F]FbaF^d_\fbebUe^\f^TFb\fae^\FTF F]]F_F^ YZOO`f[eae^ bF`^ aF_XfbF^ \f^ KZeQ _ebae[fbKZF^Vfd_bf^Y_fXe^\F``e^\eae^Sf]Q ]eae^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aFW d`a_F^[LF^bF``F^Sd_XF^d_\fbe_fF^\f^`FVVFW ]Z^$._dVFaad^J]aF^+F\feaeV#R DeXFUfe^@F_XFW^H6^]FaaFXO_F^>AH> A_gEe`Zf__dfaf A_g4dV]dZfg]f__9>YfZVRdc`f

'

c

c

c c

c

CCCCC J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN Nb^\ebbd^\f XacZ\g`a\SIBWKg6\4\>\[g _f[LfF]ae^\e^ NE@G1EJ@NBEJD^C1G9N@ 1GCB5G1 ^=1D =N^1GE9G^EB@B [LF^ f`^ Vfd_bd^ TH\WT\SWTQg e__fg cafg TS,WWg F ]FVVR^bF``e^]e`e^\F``F^YZOO`f[LF^Z\fFbUF^\f KZF]ad^@_fOZbe`FW^eTebaf^e`^0RGRW^]f^Y_d[F\F_M e``e^TFb\fae^[db^fb[ebad^\F`^]FVZFbaF^OFbF fXXdOf`FW^e``F^]FVZFbaf^[db\fUfdbf) 6944:;.819 `daad^Zbf[d)^<gTM\WWW[WW G`Fb[d^OFbf^fXXdOf`f ):77:;'52$:/ dUUcOd_fgXfagZdJd_fgeOd^eRdc`f Yd^cgd`g8eUfRdeg;faUf[g_cZe_d^=g4d`fL Xad[gZc`gYVXfaNdZdfgV^d_fg]dgQM[KWgU?[ c_^afgTT[GWgU?gg]dgOe_Zc`dgadXca^e^cge_ :E>*g]dg8eUfRdeg;faUfge_gNcP_dcgSQ[ Xea^\__egTFKgYVOgHH[gZe^g@BQ[gJe`dgS[M[ XcY^cg`f_gZcaXcg]dgNeOOadZegTB([gXde`c YfZc`]cgYZe_egE[gd`^fa`cgMM\ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e

c

c

c

c c

c

c

Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI `F^dSSF_aF^fb^eZXFbadW^e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^4 ^\F`^Y_FUUd^Oe]FI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ

\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW CCCCC J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN Nb^\ebbd^\f^XacZ\g`a\QKBIQg6\4\>\[g _f[LfF]ae^\e^ N=@N@,@B^*JECJ1NB^ =JE^.JBDB^9N^@B1NEB^=RYRJR =N^1GE9G^EB@B [LF^f`^Vfd_bd^TH\WT\SWTQge__fgcafgI,QWgF^]FQ VZFbaf^bF``e^]e`e^\F``F^YZOO`f[LF^Z\fFbUF^\f KZF]ad^@_fOZbe`FW^eTebaf^e`^0RGRW^]f^Y_d[F\F_M e``e^ TFb\fae^ e``Pfb[ebad^ \F`^ OFbF^ fXXdOf`F F`Fb[ead^\f^]FVZfadW^e``F^]FVZFbaf^[db\fUfdbf) 6944:;.819/ <gTF\WWW[WW 2);):77:;'52$:;V`d^=gdUUcOd_deafgYd^egd`g8eL UfRdeg ;faUfg _cZe_d^=g 4d`fXad[g ZcUL X_fYYcg 8eUfRdeg 4c_Nc[g ZcaXcg ]d NeOOadZeg TB([g adXca^e^eg `f_g :E>*g ]d ]f^^cg EcUV`fg e_g NcP_dcg SQ[g Xea^\__e TFKgYVOgII[gXde`cgYfZc`]c\ c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI

c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUe[g^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd d``e`RdD < )9;:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgIWW[WWDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbad


c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\QKBTIIG[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >-RA6R>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^H-RAHR>AH4I ):77:; '52$:; ; /eXXea^eUf`^cg f]g eV^cadL UfYYegYd^dgd`g:cZfaeg;fad`fYf[g_cZeL _d^=g %ead`eg )fg 8VZeg Jdeg %c`eZf__c[ eJf`^dgYVXfaNdZdfgZcUUfaZde_fgadYXf^L ^dJeUf`^f[g]dgU?\gTWK[GMgfg]dgU?\gFF[ c_^afgZca^fg]dgXfa^d`f`Re\g4_dgdUUcOd_d Yc`cgadXca^e^dg`f_g:E>*g]dg]f^^cgZcL UV`fge_gNcP_dcgKM[gX\__egTWI[gYVOgM[Fgf T.Dg$e_cafg<\gQI\KKI[MQ =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^^CBE9N%NBEN^

% 5GE9N@J^^CBE^NECJE@B F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f^fVac QI\KKI[MQgYF_^f`^`daad^Zbf[dI^^ )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXXf]]fOfQ `faMW^ bdb^ \FTdbd^ F]]F_F^ fbSF_fd_f^ e`^ Q#g ]f_ XafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ

]FbaeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_Q XfbF^ YF_Fbad_fd^ \f^ \fF[f^ Vfd_bf^ \e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^ Zb^ \d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg TH\WT\SWTQ[ cafgWI\QWgfgYY\[g_egJf`]d^egedgXVOO_dZd d`Ze`^dg ]f_g ZcUXf`]dcg dUUcOd_deaf YcXaegd`]dZe^c[gZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW

Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^A/RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e XacZf]VaegfYfZV^dJe dUUcOd_deafg`7\TTGBSWWI[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >-RA6R>AH>^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^H-RAHR>AH4I ):77:;'52$:; /eXXfRReUf`^cg]dg^faaf`cgf]dL NdZeOd_fg]dgU?\gGFWgYd^cgd`g4dRRfade[gadL Xca^e^cg `f_g :E;g e_g NcP_dcg QH[g X\__e QMI.D #6944:;.819 <\gMQ\HWW[WW =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^ =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN ^5GE9N@J^^CBE^NECJE@B F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819;\f^fVac MQ\HWW[WWggYF_^f`^`daad^Zbf[dI^^ )9;:%%9679;25;8'&957: ;e^YFbe^\f^fbeXXf]]fOfQ `faMW^ bdb^ \FTdbd^ F]]F_F^ fbSF_fd_f^ e^ <\ S\MWW[WWg YF_^f`^`daad^Zbf[dI^ c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F


e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_Fbaf^8]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTd<^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg TH\WT\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae

& bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^A/RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$:

c

c

c

c

c

c

c c

c

CCCCC J55N=B^9N^5GE9N@J^9N^*GEN^N++B*NDN Nb^\ebbd^\f^XacZ\g`a\IBIKg6\4\>\[g _f[LfF]ae^\e^ N=@N@,@B^*JECJ1NB^=JE^.JBDB^ 9N^@B1NEB^=RYRJR =N^1GE9G^EB@B [LF^f`^Vfd_bd^TH\WT\SWTQge__fgcafgWI,QW F^]FQ VZFbaf^bF``e^]e`e^\F``F^YZOO`f[LF^Z\fFbUF^\f KZF]ad^@_fOZbe`FW^eTebaf^e`^0RGRW^]f^Y_d[F\F_M e``e^ TFb\fae^ e``Pfb[ebad^ \F`^ OFbF^ fXXdOf`F F`Fb[ead^\f^]FVZfadW^e``F^]FVZFbaf^[db\fUfdbf) 6944:;.819/;<gTM\WWW[WW 2);):77:;'52$: V`d^=gdUUcOd_deafgYd^egd`g8eL UfRdeg ;faUfg _cZe_d^=g 4d`fXad[g ZcUL X_fYYcg 8eUfRdeg 4c_Nc[g ZcaXcg ]d NeOOadZeg TB([g ZcUXcY^eg ]eg YcPL Pdca`cLXae`Rcg Zc`g e`Pc_cg Zc^^Vae[ V`eg ZeUfae[g OeP`c[g Oe_Zc`f\g A_g ZfL YXd^fg -g adXca^e^cg `f_g :E>*g ]dg ]f^^c EcUV`fge_gNcP_dcgSQ[gXea^\__egTFKgYVO HW[gXde`cgXadUc\ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTS\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd d``e`RdD < )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgQWW[WWDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d

c

c

c

c

c

e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbad fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ

TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``P^G]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\GQBIKg6\4\>R^ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >-RA6R>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^bdTF^^bF``d^]aead^\f^Seaad^F^\f \f_faad^ fb^ [Zf^ ]f^ a_dTe^ YF_^ `PZ\fFbUe^ \F` H-RAHR>AH4I -:77:; 5: 9; /?Vc^eg d`]dJdYeg ]dg TBQg ]f__e Xdf`egXacXadf^=g]dgV`gZcUXf`]dcgdUL UcOd_deafgYd^cgd`g8eUfRdeg;faUf[g$de 8cadf]c[g ZcY^d^Vd^cg ]eg _cZe_fg XcY^c Yc^^cg^faae[gUePeRRd`dgXcY^dge_gXde`c ^faaegf]geXXea^eUf`^cgXcY^cge_gXadUc Xde`c[g adXca^e^cg `f_g :E>*g ]dg ]f^^c EcUV`fge_gNcP_dcgST[gadYXf^^dJeUf`^f X\__eg TGHg YVO\g S[g Ze^\g @BK[g Z_eYYfg S[ Je`dg K[M[g X\__eg TGT[g YVOg Q[g Ze^\g EBg T[ Z_eYYfgTW[gX\__egTGT[gYVOgK[gZe^\gEBT[ Z_eYYfgTW[gX\__egTGT[gYVOgM[gZe^\gEBT[ Z_eYYfgTW[gX\__egTGT[gYVOgH[gZe^\gEBT[ Z_eYYfgTW[gX\__egTGT[gYVOgTG[gZe^\gEBT[ Z_eYYfgTW[gX\__egTGH[gYVOgF[g0Tg2e_gZe^\ 0S5[gZe^\g@BQ[gZ_eYYfgQ[gJe`dgK[M[gX\__e TGH[gYVOgTS[g0Tg2e_gZe^\g0S5[gZe^\g@BQ[ Z_eYYfgQ[gJe`dgM.D #6944:;.819;! 8178;<\gTFW\WWW[WWg =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^=@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG^ JDDG^=G0,GE@N^CBE9N%NBEN) 5GE9N@J^CBE^NECJE@B)^ c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgTFW\WWW[WWD < )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgF\WWW[WWD


c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe \f^Ye_aF[fYeUfdbFW^d[[d__F_M^[dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q `Pe_aR^?7A^[RYR[RI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad

[F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg TH\WT\SWTQ[ cafg I[QWg fg YfPP\[g _eg Jf`]d^eg edg XVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ

[e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^A/RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``P^G]F[ZUfdbFW bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\gTWTBTIISg6\4\>\g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` >-RA6R>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\f^Yf&^`daaf^bF``d^]aead^\f^Seaad^F^\f^\f_faad fb^[Zf^]f^a_dTebd^YF_^`PZ\fFbUe^\F`^H-RAHR>AH4I -:77:;'5:; /d`^facgNeOOadZe^cgeg]VfgXde`d NVcadg ^faaeg Zc`g ZdaZcY^e`^fg Zca^fg d` eZVaYc[gJdeg:eRdc`e_f[gadXca^e^cg`f_ :E>*g ]dg ]f^^cg ZcUV`fg e_g NcP_dcg Q[ X\__egFKI[gZe^\g@BS[gJe`dgF[M\g1V__egZca^f YVYYdY^fgV`egYfaJd^ g]dgXeYYePPdcgd` NeJcafg]f_g_c^^cg`\gQ[gZcY^d^Vd^cg]egV` eXXea^eUf`^cgegXde`cg^faaegade_Re^c[ c_^afg Z3fg ]dg Xea^fg ]dg ^faaf`cg 2_e^c cJfY^5g cZZVXe^eg ]eg Y^ae]eg ZcUVL `e_f.Dg #6944:;.819/;<\gSF\WWW[WWDg -:77:;!'9; /UePeRRd`cgYfUd`^faae^cgYd^c d`g eZVaYc[gZc`g?Ve^^acgeZZfYYdgZeaL aeOd_dg]e__egJdeg:eRdc`e_fg`\gQ[g`\gM[g`\ Ggfg`\gI[gadXca^e^cg`f_g:E>*g]dg]f^^c ZcUV`fge_gNcP_dcgQ[gX\__egFMW[gYVOgT[ Ze^\gEBS[gU?\gTWQ.Dg #6944:;.819/;<\gTS\WWW[WWD -:77:; 769; /eXXea^eUf`^cg eg Xde`cg ^faae ade_Re^cgYd^cgd`g eZVaYc[gZc`geZZfYYc ]e__egZca^fg]f_g_c^^cg`\gT[gadXca^e^cg`f_ :E>*g ]dg ]f^^cg ZcUV`fg e_g NcP_dcg Q[ X\__egFMW[gYVOgS[gZe^\g@BQ[gJe`dgH[MDg #6944:;.819/ <\gSW\WWW[WWD -:77:; '8776:; ;/eXXfRReUf`^cg]dg^faaf`c ePadZc_cg]dgU?\gSMWWgYd^cgd`g eZVaYcg[ _cZe_d^=g (eYd_f[g adXca^e^cg `f_g :E;g ]d ]f^^cgZcUV`fge_gNcP_dcgT[gX\__egMFF.Dg #6944:;.819/;<\gH\QKM[HW =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^=@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG^ JDDG^=G0,GE@N^CBE9N%NBEN) 5GE9N@J^CBE^NECJE@B)^ c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgSF\WWW[WWgYF_^f`^`daad^bR^HW^\f^fVac TS\WWW[WWg YF_^ f`^ `daad^ bR^ >W^ \f^ fVac SW\WWW[WW YF_^ f`^ `daad^ bR^ 4W^ \f^ fVac H\QKM[HW YF_^f`^`daad^bR^/I < )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgT\MWW[WW YF_^f`^`daad^bR^HW^e\^fVac GWW[WW YF_^f`^`daad^bR^>W^e\^fVacgT\WWW[WW YF_^f`^`daad^bR^4W^e\^fVacgQMW[WWgYF_^f` `daad^bR^/I c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^

c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c bF`^[e]d^\f^Zbe^]d`e^f]aebUe^\f^Ye_aF[fQ YeUfdbFW^ d[[d__F_M^ [dXZbKZF^ eYYd_Q ae_F^ Zb^ _fe`Ud^ XfbfXdW^ F"^ e_aR^ ?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q `Pe_aR^?7A^[RYR[RI^^fb^dVbf^[e]dW^`F^]YF]F \F`^a_e]SF_fXFbad^[F\dbd^e^[e_f[d^\F`Q `PeVVfZ\f[eae_fdW^[Zf^_F]aebd^_f]F_TeaF^`F eaafTfaM^F\^f^[d]af^YF_^`e^_FVf]a_eUfdbF^F a_e][_fUfdbF^\F`^\F[_Fad^bdb[L'^YF_^`e [eb[F``eUfdbF^\F``F^Sd_Xe`faM^Y_FVfZ\fQ UfFTd`f^V_eTebaf^]ZV`f^fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg TH\WT\SWTQ[ cafg I\QWg fg YfPP\[g _eg Jf`]d^eg edg XVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^=


fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^A/RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$: CCCCC B19NEJE%J^9N^5GE9N@J^ N`^0fZ\f[F^9F`FVead^e`^ +e__dUf`^cg6\+\g`\gHSSBWQ[g B19NEJ `e^TFb\fae^e``Pfb[ebad^\F`^ ]FVZFbaF^OFbF^fXXdOf`F) -:77:;'52$:/;/ZcUX_fYYcgdUUcOd_deafgeg]fL Y^d`eRdc`fg d`]VY^ade_fg Yd^cg `f_g ZcL UV`fg]dgEVad`Peg2E&5[ge__eg_cZe_d^=g]d @ZZc` e[gZcUXcY^cg]dgNeOOadZe^dgfg^faL af`d[g adXca^e^cg d`g Ze^eY^c,g ?Ve`^cg ed NeOOadZe^d[ge_gNcP_dcg]dgUeXXegI[gXea^dL Zf__egTIF[gZe^fPcadeg)Gg2f"gTFS5gfgXeaL ^dZf__eg TII[g Ze^fPcadeg )BTg 2f"g TFS5D ?Ve`^cgedg^faaf`dge_gNcP_dcg]dgUeXXegI[ Xea^dZf__egTIG[gfY^fYegXfagU?\gTG\IKH[ Xea^dZf__egSWW[gfY^fYegXfagU?\gF\MTHgf Xea^dZf__egTFQ[gfY^fYegXfagU?\gKGQg.[ UfP_dcg]fYZad^^cg`f__egaf_eRdc`fg]f_L _9fYXfa^cgd`ge^^dgZVdgYdgNegfYXafYYcgadL NfadUf`^c\ "); 6944:;.819 ;^\f^fVacgKWW\WWW[WW\ c Cdb^ `e^ Y_F]FbaF^ d_\fbebUe^ f`^ 0fZ\f[F 9F`FVead^Sf]]e^`e^\eae^F^`F^Xd\e`faM^\f Ye_aF[fYeUfdbF^e``e^TFb\fae^[db^fb[ebadI fb^\FaaeV`fd) (N==J) b _eg]e^eg]f_gSTBWTBSWTQgcafgTQgXfag_e XafYf`^eRdc`fgXafYYcg_egEe`Zf__fade +e__dUf`^eafg ]f__9dY^e`Reg ]dg Xea^fZdL XeRdc`fgeP_dgd`Ze`^d[ge_gXafRRcgOeYf YcXaegd`]dZe^cD

b _9V]df`Reg ]f_g SSBWTBSWTQg cafg ]dg ad^c Xfag_egJf`]d^egedgXVOO_dZdgd`Ze`^dg]f_L _9dUUcOd_fgYcXaegd`]dZe^cgfge_gXafRRc YV]]f^^cD c [LF^)9;:%%9679;&252&9;fb^eZXFbad^bdb \FTdbd^ F]]F_F^ fbSF_fd_f^ e` Q#g ]f_ XafRRcgOeYfD =@J*NDN=CG c [LF^V`f^dSSF_Fbaf^\dT_ebbd^\FYd]fae_FW [dbaF]aZe`XFbaF^e``e^\dXeb\e^\f^Ye_aFQ [fYeUfdbF^e``Pe]aeW^Zb^e]]FVbd^[f_[d`e_F bdb^ a_e]SF_fOf`F^ fbaF]aead^ e``e^ [Z_eaF`e \F`^Se``fXFbad^ 1R(R^->>2>AA4 W^e^afad`d^\f [eZUfdbFW^fb^_eVfdbF^\f^Zb^\F[fXd^\F` Y_FUUd^Oe]F^\Pe]aeR^ c CLF^f`^YeVeXFbad^\F`^Y_FUUd^\f^eVVfZQ \f[eUfdbF^ \dT_M^ F]]F_F^ FSSFaaZead^ fb [eb[F``F_fe^Se``fXFbae_F^Fba_d^]F]]ebae Vfd_bf^\e``PZ\fFbUe^\f^TFb\faeR c +eVVfd_f^fbSd_XeUfdbf^[f_[e^`e^Ye_aF[fQ YeUfdbF^e``Pfb[ebad^F^`F^Xd\e`faM^\f^eVQ VfZ\f[eUfdbF^\F`^OFbF^\dT_ebbd^F]]F_F _f[LfF]aF^e``e^[eb[F``F_fe^Se``fXFbae_F^d e`^[Z_ead_F^8aF`R^A6-:2>-A>-<R CCCCC ,((NCNB^(JDDN+GE@N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN 06'E>)*6@g)AgE':E'6)@;'g 06>$>:;A$'g:\gSBTIIK =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^9F`FVead^e` Cdb[d_\ead^._FTFbafTd^bR^>2H66/W^ !:77*118;+!9)9; :69178 ; [db^d_\fbebUe^\F`^^>?2A62>AH> J^9N=.B=@B `e^TFb\fae^e``Pfb[ebad^\F`^]FVZFbaF^OFbF^fXQ XdOf`FW^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf F]]d^]f^a_dTeW^KZe`F^_f]Z`ae^\e``e^YF_fUfe^eV`f eaaf^\F`^Se][f[d`d^\F`^Cdb[d_\ead^._FTFbafTd bR^ >2H66/^ F^ \F``PF]F[ZUfdbF^ Sd_Ueae^ 10 7426/W^[Zf^]f^Se^fbaFV_e`F^_fSF_fXFbad^fb^KZF]ae ]F\FR^ GTFbaZe`f^ f__FVd`e_faM^ Z_Oebf]af[LF^ d eOZ]f^F\f`fUf^Yda_ebbd^F]]F_F^]ebeaf^d^[db\dQ beaf^\e``PeVVfZ\f[eae_fd^bF`^aF_XfbF^\f^Vfd_bf H>A^\e``e^bdafSf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR^ -3003;5*; ; +eOOadZe^cgYd^cgd`g8eUfRde ;faUfgJdegEc_\gEeYYc_dgBgJdegEea]VZZd ZcY^d^Vd^cg]egV`g_cZe_fgXcY^cgegXde`c ^faaegadYXf^^cgegJdegEeYYc_dgf]gegXde`c YfUd`^faae^cgadYXf^^cgegJdegEea]VZZd[ adXca^e^cge_g:E>*g]f_gEcUV`fg]dg8eL UfRdeg;faUfge_gNcP_dcgSTgX\__egTGSgYVO T[gJdegEc_\gEeYYc_dg`\gK[g0\;\[g&ET[gEe^\ EBS[gZ_eYYfgQ\ # , 3; + ,/; Ddaad^ bR^ H>^ fVac QGW\WWW[WWg8a_F[Fbad]FaaebaeXf`e2AA< b 'P`dg Zc`Zcaaf`^f[g Xfag fYYfafg eUL UfYYcge__9d`Ze`^c[g]cJa=gXafYf`^eaf f`^acg _fg cafg TQ\WWg ]f_g STBWTBSWTQ[ `f__eg Ee`Zf__fadeg +e__dUf`^eaf[ dY^e`Reg]dgXea^fZdXeRdc`fgd`gZea^egOc_L _e^egfgJfaYeaf[gUf]de`^fg]fXcYd^cg]d eYYfP`cg ZdaZc_eafg d`^fY^e^cg e_g Zc`L Zca]e^cgXafJf`^dJcgSBIK[g_fgYfPVf`^d YcUUf, TWB#gg]f_gXafRRcgcNNfa^cgeg^d^c_cg]d ZeVRdc`fD SW#g g ]f_g XafRRcg cNNfa^cg ?Ve_f YcUUeg ZcaadYXc`]f`^fg e__9eUUc`L ^eafg]f__fgXafYVUdOd_dgYXfYfg]dgJf`L ]d^eg\ < - 8'&957:;&252&: \e^eYYd_ae_F^e``PdSQ SF_ae^ -g Xeadg e_g M# \F`^ [d__f]Ydb\FbaF Te`d_F^\F`^OFbF^]ZOe]aeadR^ J^=@J*ND@B^ c fb^ H>A^ Vfd_bf^ f`^ aF_XfbF^ Fba_d^ f`^ KZe`F `PeVVfZ\f[eae_fd^ \dT_M^ TF_]e_FW^ bF``F Sd_XF^\Ff^\FYd]faf^VfZ\fUfe_fW^f`^Y_FUUd^\f eVVfZ\f[eUfdbFW^ \Fa_eaad^ `PfXYd_ad^ VfM TF_]ead^e^afad`d^\f^[eZUfdbFR J^(N==J@B^

b Xfag_9d`Ze`^cgd_gPdca`cgSSBWTBSWTQgcaf WI\QWgfgYfPVf`^dggXafYYcg_9eV_egZdJd_f ]f_g;adOV`e_fg]dg8eUfRdeg;faUfg\ c DPJVVfZ\f[eae_fd^ \dT_M^ Y_dTTF\F_F^ e ]Ze^[Z_e^F^]YF]F^e``e^Td`aZ_e^[eae]ae`F \F``PfXXdOf`F^a_e]SF_fadV`fR c ,`aF_fd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^ e`^ DfKZf\ead_F^ \F`^ Cdb[d_\ead ._FTFbafTdW^eTTR^=aFSebfe^^+e_fe^0eXQ Ofbd^8A6-:2>7H:4<R DeXFUfe^@F_XFW^`f^HARA?R>AH> CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\QQBSWWI[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HARHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^>4RAHR>AH4I ):77:; '52$:; /NeOOadZe^cg Xfag ZdJd_fg eOd^eL Rdc`fg d`g 8eUfRdeg ;faUf[g $deg (fe^c @`Pf_dZc[g`\gSMB+[g]dY^adOVd^cgYVg^afg_dL Jf__d,gV`gXde`cgYfUd`^faae^c[gPeaePfD V`gXde`cgYcXaef_fJe^cge]dOd^cgegRc`e Pdca`cDgV`gXadUcgXde`cge]dOd^cgegRc`e `c^^fDgV`gYc^^c^f^^cg`c`gXae^dZeOd_f[ Xfag V`eg YVXfaNdZdfg ZcUUfaZde_fg g ]d U?\g TFI\g 89dUUcOd_fg -g adXca^e^cg `f_ :E>*g]dg]f^^cgZcUV`fge_gNcP_dcgFM[ X\__egTGKS[gYVOgG[gZe^\g@BS[gZ_eYYfg*[ Je`dgF.D #6944:;.819;<\gTTS\MWW[WWD =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^=@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG^ JDDG^=G0,GE@N^CBE9N%NBEN 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819;\f fVacgTTS\MWW[WW YF_^f`^`daad^Zbf[dI^^ < )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^fVacgI\WWW[WW YF_^f`^`daad^Zbf[dI^ c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^

c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f [Zf^e`^]F[db\d^[dXXe^\F``e^XF\F]fXe \f]Yd]fUfdbF^bd_XeafTe<W^`PF]Y_F]]e^\fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI^bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXQ XdOf`F^e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF ]daad][_fTF^`Pf]aebUeI^e``Pf]aebUe^\f^Ye_aFQ [fYeUfdbF^\FTF^F]]F_F^e``FVeae^[dYfe^\f Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F`^[db[d_Q _FbaF^FW^]F^bF[F]]e_fdW^Te`f\e^\d[ZXFbQ aeUfdbF^ [dXY_dTebaF^ f^ YdaF_f^ d^ `e `FVfaafXeUfdbF^\F``d^]aF]]d^8e\^F]R^Y_dQ [Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F^fb [e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW c `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^


c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N ^CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^ (JCCNJ^D,B0B^=GE%J^NECJE@BW ^=NJ^ ,JDB1J^5N^=N^(JCCNJ ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:;

,((NCNB^G=GC,%NBEN^N++B*NDNJ1N ND^0N,9NCG^9GDDPG=GC,%NBEG `Faaf^V`f^eaaf^\F`^Y_d[F\fXFbad^Le^\f]Yd]ad^`e^ TFb\fae^]FbUe^fb[ebad^\F`^ `daad^b ^H^F^\F`^`daad^b ^>^^ bF``e^XacZf]VaegfYfZV^dJe dUUcOd_deafg`7gQKBIF bdb[L;^bF`^[e]d^fb^[Zf^`e^]aF]]e^bdb^eOOfe `ZdVdW^Le^\f]Yd]ad^`e^TFb\fae^[db^fb[ebad^\Ff ]FVZFbaf^OFbf^fXXdOf`fW^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^]f^a_dTe)^ ):77:; / $^eXXfRReUf`^cg]dg^faaf`cgZc_^dJe^c e]g V_dJf^cg ]dg U?\g G\HMW[WWg Yd^cg d` %ed]e[g_cZe_d^=g0de`dg$eZZeac[gadXcaL ^e^cg`f_g:E;ge_gNcP_dcgKI[gX\__fgTQKgf SST.D ):77:; / /g eXXfRReUf`^cg ]dg ^faaf`cg Zc_^dL Je^cge]gV_dJf^cg]dgU?\gQ\WMW[WWgYVgZVd d`YdY^c`cg]VfgdUUcOd_dg`c`geZZe^eL Y^e^d[gV`cge]dOd^cge]geOd^eRdc`fgfg_9e_L ^acgeg]fXcYd^cg]dge^^afRRdgePadZc_d[gYd^c d`g %ed]e[g _cZe_d^=g 0de`dg $eZZeac[g adL Xca^e^cg`f_g:E;ge_gNcP_dcgKI[gX\__fgFW fgSKG.Dg 9N=.BEG De^ TFb\fae^ ]FbUe^ fb[ebadW^ \e^ FSSFaaZe_]f^ e` 6944:;.819 \f)^<\TK\WHS[MW YF_^f`^`daad^b ^H F\^<\gTF\WWW[WW YF_^f`^`daad^b ^>^^I^ )9;:%%9679;25;8'&957: e^YFbe^\f^fbeXXf]]fOfQ `faMW^ bdb^ \FTdbd^ F]]F_F^ fbSF_fd_f^ e^ fVac T\FWW[WW YF_^f`^`daad^b ^H^F^e\^fVacgS\SWW[WW YF_^f`^`daad^b ^>^I^ c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW

c

c

c

c

c

c c < c

c

Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^ `PeVVfZ\f[eUfdbF^ Y_dTTf]d_fe 8ae`F^ Y_F][_fUfdbF^ Te^ _fYd_aeae^ ]d`d^ fb [e]d^ \f^ TFb\faF^ \f]Yd]aF^ e^ \F[d__F_F \e``PH^Xe_Ud^>AA-<I e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbad^8ae`F^Y_F][_fUfdbF^Te Te_feae^[db^`Pfb\f[eUfdbF^\f^H2?^]d`d^fb [e]d^ \f^ TFb\faF^ \f]Yd]aF^ e^ \F[d__F_F \e``PH^Xe_Ud^>AA-<I ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_Fbaf^8]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTd<^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbF^8ae`F^Y_F][_fUfdbF Te^_fYd_aeae^]d`d^fb^[e]d^\f^TFb\faF^\fQ ]Yd]aF^e^\F[d__F_F^\e``PH^Xe_Ud^>AA-<I^ fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ KZebad^e``PFTFbaZe`FW^]Z[[F]]fTe^TFbQ \fae^eV`f^fb[ebaf) F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgTK\WHS[MW YF_^f`^`daad^b ^H^F\^fVac TF\WWW[WW YF_^f`^`daad^b ^>^^I^ )9;:%%9679;25;8'&957:W^e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgF\WWW[WW YF_^`PZbf[d^`daadI^ dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^HW^[RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ

_e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^CebQ [F``F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F^dSQ SF_aF^ \f^ e[KZf]adW^ F"^ e_aR^ ?7H^ [RYR[RW^ \F` [dXYFb\fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFQ V`fd^\F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW^KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``e^Y_F]FbaF d_\fbebUeW^^faUd`fgNd`cge__fgcafgTQ\WWg]f__9 F\WT\SWTQgZc`g_fgUc]e_d^=gfgXfagd_gXafRRc OeYfg]dgZVdgYcXaeD -gNdYYe^e[gXfag_9fYeUfg]f__fgcNNfa^fg]dgeZL ?VdY^c[gedgYf`Ydg]f__9ea^\gMGSgZ\X\Z\[gcJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafYf`^e^f d`gUdYVaegYVXfadcafge]gV`e[gedgYf`Ydg]f_L _9ea^\gMGQgZ\X\Z\[g_9V]df`Reg]f_gWI\WT\SWTQ cafgI\QWgfgYfPP\D EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQg[Zc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ cafg I\QWg fg YfPP\[g _eg Jf`]d^eg edg XVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^


CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI ,JE@B^JDDJ^.,**DNCN@ ^NE^ (,E%NBEG^9GDDJ^5GE9N@J) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM^) c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z \f^Zb^KZdaf\febd^\f^fbSd_XeUfdbF^e^\fSSZQ ]fdbF^`d[e`F^e^][F`ae^\F`^[_F\fad_FW^YZOQ O`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z Zbe^_fTf]ae^YF_fd\f[eW^YZOO`f[faM^\e^FSSFaQ aZe_]f^ e`XFbd^ KZe_ebae[fbKZF^ Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``3fb[ebadI c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^F \F``e^_F`eUfdbF^\f^]afXe^\F``PF]YF_ad^]Z Zb^ ]fad^ NbaF_bFa^ fb\fTf\Zead^ ef^ ]Fb]f \F``Pe_aR^H74^aF_^\f]YR^eaaR^[RYR[R^F^\f^[Zf^; \eae^bdafUfe^fb^Ceb[F``F_feW^e`XFbd^KZeQ _ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_ `e^ Y_F]FbaeUfdbF^ \F``F^ dSSF_aF^ d^ \F``e \eae^\F``Pfb[ebadI c f`^ [_F\fad_F^ Y_d[F\FbaF^ YZ W^ fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd) c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_feW^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF

YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^e^Z`aF_fd_f^Sd_XF^\f^YZOO`f[faM \e`^ XF\F]fXd^ Y_F][F`aFW^ \e^ F]FVZf_]f e`XFbd^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\Pd_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI^ c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^ ^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFR DeXFUfe^@F_XFW^` ^>-RA6R>AH> A_g4dV]dZfg]f__9fYfZVRdc`f :77*118;+!9)9; :69178 CCCCC J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@R?-6^CB++J^4^C.C =N^1GE9G^EB@B^ [LF^f`^0fZ\f[F^\F``3F]F[ZUfdbF bF``e^XacZf]VaegSQBWGg6\>\g Le^\f]Yd]ad^`e^TFb\fae^e``3fb[ebadW^fb^Zb^Zbf[d `daadW^\F`^]FVZFbaF^OFbF^fXXdOf`F^bF``d^]aead \f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTe^ -:77:; 52$: Q^/$d__egYd^eg`f_gEcUV`fg]dg8eL UfRdeg;faUf[gEc`^ae]eg1Zd`=[gJdeg6\ )9@_^eJd__e[gZcUXcY^eg]egXde`cg^faae ade_Re^c[gXadUcgfgYfZc`]cgXde`c[gXfa ZcUX_fYYdJdgJe`dgTS[gZc`ge``fYYegf Xfa^d`f`^fg Zca^f[g adXca^e^eg `f_ :\E\>\*\g]dg]f^^cgZcUV`fge_gNcP_dcgQF[ X\__eg MSQ[g YVO\g T[g Ze^\g@BG[g Z_eYYfg *[ YVXfaNdZdfgZe^eY^e_fg]dgU?\gQKQg.\ #6944:;.819 fVacgSKK\GQT[WW c 0`f^ fbaF_F]]eaf^ e^ Y_F]Fbae_F^ dSSF_ae^ \f e[KZf]ad^Yd]]dbd^F]eXfbe_F^f`^OFbF^fb TFb\fae^ [LfF\Fb\d^ \f^ e[[F\F_F^ e``PfXQ XdOf`FW^ Y_FTfe^ Y_FTFbafTe^ [dXZbf[eQ UfdbF^ ][_faae^ e`^ \FOfad_FQ[Z]ad\FW^ bFf Vfd_bf^F^bF``F^d_F^fb\f[eaf^\e`^[dXOfbead \f]Yd]ad^F"^e_aaR^?H6^F^H/7^[RYR[R (N==J b 8eg Jf`]d^eg Zc`g d`Ze`^cg Xfag d_ TH\T\SWTQgcafgI\QWgfgYfPP\gXafYYcgd_ ;adOV`e_fg 'a]d`eadcg ]dg 8eUfRde ;faUf[g e_g XafRRcg OeYfg ] eY^eg ZcUf YcXaeg]f^faUd`e^cg]dg>VacgSKK\GQT[WW c BVbf^[db[d__FbaF^YF_^F]]F_F^eXXF]]d e``e^TFb\fae^\dT_M^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^1R0RGR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`3f]aebUe^]aF]]e^]f^_fSFQ _f][FW^`F^^Y_dY_fF^VFbF_e`faM^8bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F^[dQ bfZVeadW^ _FVfXF^ Yea_fXdbfe`F^ a_e^ [dQ bfZVf<R c J``3f]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``eVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F<I c Nb^[e]d^\f^\f[Lfe_eUfdbF^\f^Ye_aF[fYeQ UfdbF^Y_F]Fbaeae^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`3F][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c Cdb^`3f]aebUe^\f^Ye_aF[fYeUfdbF^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]e^^F^]FbUe^]FVbf \f^_f[dbd][fXFbad^\FTF^F]]F_F^\FYd]fQ aead^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^ e^ .B=@G^ N@JDNJEG^ =RYRJRW a_eXfaF^[Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e [eZUfdbF^fb^_eVfdbF^\F`^HA^ ^\F`^Y_FUUd Oe]F^\3e]ae^F^\F``F^]YF]F^bF``e^Xf]Z_e \F`^>A^ ^\F`^Y_FUUd^Oe]F^\Pe]aeR^Nb^dVbf [e]d^`F^]YF]F^\f^a_e]SF_fXFbad^[e\dbd e^^[e_f[d^\F``3eVVfZ\f[eae_fdW^[Zf^_F]aebd _f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_^`e^[ebQ [F``eUfdbF^\F``F^Sd_Xe`faMR c D3dSSF_ae^ \f^ e[KZf]ad^ ;^ f__FTd[eOf`F a_ebbF^ [LF^ f`^ 0fZ\f[F^ d_\fbf^ `3b[ebadW ]febd^\F[d_]f^H>A^VV^\e``e^]Ze^Y_F]FbQ aeUfdbF^ F^ `e^ ]aF]]e^ bdb^ ]fe^ ]aeae^ e[Q [d`aeR b A_g ^faUd`fg V_^dUcg Xfag ]fXcYd^eaf dY^e`Reg]dgXea^fZdXeRdc`fge__egJf`]d^e Zc`gd`Ze`^c[g`f__egEe`Zf__fadeg]f__f >YfZVRdc`dg]f_g;adOV`e_fg]dg8eUfRde ;faUf[g -g f`^acg fg `c`g c_^afg _fg caf TQ\WWg]f_gPdca`cgTM\T\SWTQD c DF^dSSF_aF^fb^eZXFbadW^e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^4 ^^\F`^Y_FUUd^Oe]F^\Pe]aeR c D3fXXdOf`F^TfFbF^Yd]ad^fb^TF\fae^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTeW

[d] ^[dXF^f\FbafSf[eadW^\F][_faad^F^Te`ZQ aead^\e``3F]YF_ad^bF``e^_F`eUfdbFR c D3eVVfZ\f[eae_fd^\dT_M^TF_]e_F c e<^`e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^\Fa_eaae^`e^[eZUfdbF^Fba_d^Zb^aF_Q XfbF^Xe]]fXd^\f^]F]]ebae^Vfd_bf^\e``e \eae^\f^eVVfZ\f[eUfdbFW^XF\febaF^e]]FQ Vbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead^e .B=@G^N@JDNJEG^=RYRJR I c O<^\FYd]fae_F^f\dbFe^F\^eVVfd_beae^[F_Q afSf[eUfdbF^ fYdQ[eae]ae`F^ [db[F_bFbaF `3fXXdOf`F^Yd]ad^fb^TFb\fae^F\^eaaF]aebaF `F^_f]Z`aebUF^\F``F^Tf]Z_F^[eae]ae`f^F^\Ff _FVf]a_f^ fXXdOf`fe_fW^ bdb[L;^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``3eVVfZ\f[eae_fdW^YF_^[dXF^`fKZfQ \eaF^\e``e^Ceb[F``F_feI c [<^`3eVVfZ\f[eae_fd^\dT_M^Y_dTTF\F_F^e ]Ze^[Z_e^F^]YF]F^e``e^Td`aZ_e^[eae]ae`F \F``3fXXdOf`F^a_e]SF_fadV`fW^e``e^]ebead_fe F2d^[db\dbd^\f^FTFbaZe`f^f__FVd`e_faM^Z_Q Oebf]af[LF^Fba_d^H>A^Vfd_bf^\e``e^bdafSf[e \F`^\F[_Fad^\f^a_e]SF_fXFbadR c +eVVfd_f^fbSd_XeUfdbf^fb^Ceb[F``F_fe^ DeXFUfe^@F_XF^ A_gEe`Zf__dfafg2EBT5 CCCCC ,((NCNB^(JDDN+GE@N J55N=B^9N^5GE9N@J^9N^*GEN^N++B*NDN^ 06'E>)*6@g+@88A%>:;@6>g:\gHBSWWH =N^1GE9G^EB@B^C G N`^0fZ\f[F^9F`FVead^e`^(e``fXFbad^bR^-2>AA-I 5f]af^V`f^e_aaR^?-6W?7HW?7-W^[RYR[RW^[dXF^bdTF`Q `eaf^\e``F^`FVVf^:A2>AA?W>-42>AA?^F^?H2>AAF^\F``Pe_aR^HA:^DR(RI Cdb^d_\fbebUe^\F`^H:2A62>AH>^Le^\f]Yd]ad^`e TFb\fae^[deaafTeW^ e`^ 6944:;.819 \f^FZ_d^THW\WWW[WWg \F`^^`daad bR^>^\F`^]FVZFbaF^OFbF^fXXdOf`F) ):77:;!'9; /gJd__f^^egegYZ3dfaegeg^afgg_dJf__d NVcadg^faaegNeZf`^fgXea^fg]dgV`gZcUL X_fYYcg afYd]f`Rde_fg d`g 8eUfRde ;faUf[g _cZe_d^=g +faae`^eRRc[g Jde 6fd__c[g`\gT[gEccXfae^dJeg$fa]f[gf]dNdL Zdcg([gadXca^e^egg`f_g:E>*g]dg]f^^cgZcL UV`fge_gNcP_dcgQT[gX\__egTKHF[gYVOgTK[ Ze^\g@BQ[gZ_eYYfgQ[gJe`dgH[M.D 1NDG5J@B^^C G) < ;B[[d__F^Sf]]e_F^f^aF_Xfbf^YF_^`e^Y_FQ ]FbaeUfdbF^ \F``F^ dSSF_aF^ \f^ e[KZf]ad ]FbUe^fb[ebadI < <^DP^,\fFbUe^YF_^`PF]eXF^\F``F^]aF]]FW c 4<^EF`^[e]d^fb^[Zf^bdb^eOOfe^`ZdVd^`e TFb\fae^]FbUe^fb[ebad^`e^\eae^YF_^V`f^^fbQ [ebafR =@J*NDN=CG^.G1^DJ^ 5GE9N@J^=GE%J^NECJE@B^^C G) c [fe][Zb^dSSF_FbaFW^ef^]Fb]f^^\F``Pe_aR^?7HW [dXXe^HW^[RYR[R^a_ebbF^f`^\FOfad_F8Se`Q `fad<W^^;^eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_ `Pe[KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^ `FVe`FW^ eb[LF^ e^ bd_Xe \F``Pe_aR^?76W[dXXe^4W^[RYR[R^8^f`^Y_d[ZQ _ead_F^`FVe`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F XZbfad^ \f^ Xeb\ead^ ]YF[fe`F^ _f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eaeW^bdb^F]]Fb\d^]ZSSf[fFbaF^^`Pd_Q \fbe_fd^Xeb\ead^e``F^`fafI^bF``PfYdaF]f^\f [Zf^e`^[faead^e_aR^?76W^[dXXe^4W^f`^XebQ \ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOO`f[d d^][_faaZ_e^Y_fTeae^eZaFbaf[eae^\dT_M^F]Q ]F_F^^\FYd]faead^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR^?:4W^[dXXe^HW^[RYR[R<W^Y_F]FbQ aeb\d^ Y_F]]d^ `e^ Ceb[F``F_fe^ Se``fXFbQ ae_FW\f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\fQ [eUfdbF^\F`^bZXF_d^\f^_RSR^\F``e^Y_d[FQ \Z_eW^\F`^OFbF^8^F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``PdSSF_aeI c \Faae^ \f[Lfe_eUfdbF^ \FTFW^ e`a_F] W^ ^ _FQ [e_F^`F^VFbF_e`faM^\F``PdSSF_FbaF^8^bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUe2^\dXf[f`fdW^]aead [fTf`F^FW^]F^[dbfZVeadW^_FVfXF^^Yea_fXdQ bfe`F^S_e^[dbfZVfI^fb^[e]d^\f^[dXZbfdbF `FVe`F^ \Ff^ OFbfW^ d[[d__F_M^ fb\f[e_F eb[LF^`F^^VFbF_e`faM^\F`^[dbfZVF^bdb^dSQ SF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F^e\^FbQ a_eXOfW^ Y_d^ KZdaeWf`^ OFbFW^ fb^ [e]d^ \f eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZf]ad e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dbfZVF fb^ _FVfXF^ \f^ [dXZbfdbF^ \Ff^ OFbfW^ d[Q [d__F^Y_d\Z__FW^d`a_F^e``e^\f[Lfe_eUfdbF \f^KZF]aPZ`afXdW^F"^e_aR^H76W^[dXXe^HW `FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dbfZVF^bdb e[KZf_FbaF^ ^ \f^ [Zf^ e`^ ]F[db\d^ [dXXe \F``e^ XF\F]fXe^ \f]Yd]fUfdbF^ ^ bd_XeQ afTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^^\f^eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXe^F\ F]]F_F^[d__F\eae^\e^[dYfe^\f^Te`f\d^^\dQ [ZXFbad^\f^f\FbafaM^\F``PdSSF_FbaF^FW^]F

bF[F]]e_fdW^\e^Te`f\e^\d[ZXFbaeUfdbF [dXY_dTebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF \F``d^]aF]]d^8^e\^F]R^Y_d[Z_e^]YF[fe`F^d [F_afSf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c `PdSSF_ae^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI c fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI c DPdSSF_ae^;^f__FTd[eOf`F^]e`Td^[LF) < ;N`^VfZ\f[F^d_\fbf^`Pfb[ebadI < =febd^\F[d_]f^H>A^Vfd_bf^\e``e^]Ze Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe^]aeae e[[d`aeR c DPdSSF_ae^bdb^;^FSSf[e[F) < ;=F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI < =F^;^fbSF_fd_F^e`^Y_FUUd^^\FaF_Xfbead e^bd_Xe^\F``Pe_aR^?-:^F^Yf&^]dY_e^_f[d_Q \eadI < ;=F^`PdSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW e^XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_eQ ]SF_fOf`F^fbaF]aead^e``e^[Z_eaF`e^Se``fXFbQ ae_F^ $^ 1R(R^ -2>AA-#W^ fb^ Xf]Z_e^ bdb fbSF_fd_F^ e`^ \F[fXd^ \F`^ Y_FUUd^ ^ \e^ `Zf Y_dYd]adI c e``P^ dSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI `F^OZ]aF^]e_ebbd^eYF_aF^^^e``PZ\fFbUe^Sf]Q ]eae^YF_^`PF]eXF^\F``F^dSSF_aFW^e``e^Y_FQ ]FbUe^\FV`f^^dSSF_FbafW^dTF^[dXYe_]fI^bF` [e]d^\f^Xeb[eae^[dXYe_fUfdbF^\F``PdSSFQ _FbaF^d^\FV`f^dSSF_Fbaf^`PeVVfZ\f[eUfdbF ]e_M^ [dXZbKZF^ \f]Yd]aeW^ Seaae^ ]e`Te `PeYY`f[eUfdbF^\F``F^Y_FTf]fdbf^\f^[Zf^e`Q `Pe_aR^?7>W^[dXXf^>^F^4^[RYR[RI^fb^[e]d^\f Yf&^ dSSF_aF^ Te`f\FW]f^ Y_d[F\F_M^ e^ Ve_e ]Z``PdSSF_ae^Yf&^e`ae^]F[db\d^f`^]f]aFXe \F``F^ ][LF\F^ d^ OZ]aF^ ]FV_FaFW^ Seaae ]e`Te^ `PeYY`f[eUfdbF^ \F``Pe_aR^ ?74W [dXXe^>W^[RYR[RI c fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^[db[d_]Ze`F^^F\^e[[F]d d^ \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $^ +dbaF^ \Ff^ .e[Lf^ ^ \f^ =fFbe =RYReR#Q^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd [LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFWe^ XFUUd^ aF`FSe"^ d^ Yd]ae F`Faa_dbf[eW^bF`^^_f]YFaad^\F``e^bd_XeafTe eb[LF^ _FVd`e_XFbaFW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^e_aR^?7H^[RYR[RI^ c \Faad^e[[_F\fad^^\FTF^eTF_F^`ZdVd^bdb d`a_F^ [fbKZF^ Vfd_bf^ ^ Y_fXe^ \F``e^ ][eQ \FbUe^ \F`^ aF_XfbF^ Fba_d^ f`^ KZe`F^ Yd]Q ]dbd^ F]]F_F^ Y_dYd]aF^ `F^ dSSF_aF^ \f e[KZf]adI^ Sfb^ \Pd_e^ ^ ]f^ Y_FTF\F^ [LFW KZeb\d^`PdSSF_ae^;^Y_F]Fbaeae^[db^`F^XdQ \e`faM^e`aF_beafTFW^f`^^aF_XfbF^YF_^f`^TF_]eQ XFbad^\F`^Y_FUUd^F^\f^dVbf^e`a_e^]dXXe ;^\f^bdTebae^Vfd_bfI c fb^dVbf^[e]dW^`F^]YF]F^\f^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ ^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$^J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF ;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI ,JE@B^JDDP^G5GE@,JDGW ^=,CCG==N5J^5GE9N@J^J0DN^NECJE@N^^ J^=@J*NDN@B^C G) F]]e^\FTF^eTF_F^`ZdVd^e`^ 6944:;;.819; \f fVacggTHW\WWW[WW YF_^^f`^`daad^bR^>I < ) 8'&957:;&252&:;\e^eYYd_ae_F^e``F^dSQ SF_aFW^e^YFbe^\f^fbeXXf]]fOf`faMW^\FTF^F]Q ]F_F^Ye_f^e`^Q#g]f_gXafRRcgOeYf c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe H^[RYR[RW^a_ebbF^f`^\FOfad_F^8^Se``fad<W^;^eXQ XF]]d^ e^ Sd_XZ`e_F^ dSSF_aF^ e``Pfb[ebad YF_]dbe`XFbaFW^e^XFUUd^\f^Xeb\eae_fd XZbfad^\f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_eQ ad_F^`FVe`FW^eb[LF^e^bd_Xe^\F``Pe_aR^?76W


c

c

c

c

c

c

c

c c

c

c

[dXXe^4W^[RYR[R^8^f`^Y_d[Z_ead_F^`FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^ eZaFbaf[eae^ \dT_M^ F]]F_F \FYd]faead^[dbaF]aZe`XFbaF^e``e^\f[LfeQ _eUfdbF^\F`^bdXfbeafTd^\F``e^YF_]dbeW \e^FSSFaaZe_]f^bF`^aF_XfbF^\f^[Zf^e``Pe_aR ?:4W^[dXXe^H^[RYR[R<I dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\f[eUfdbF \F`^ bZXF_d^ \f^ _RSR^ \F``e^ Y_d[F\Z_eW^ f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM8^bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2^\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeWf` OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eUfdbFI^ bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^ \f^ eTF_^ ^ Y_F]d^ Tf]fdbF \F``e^YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI^bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXQ XdOf`F^e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF ]daad][_fTF^`Pf]aebUeI^e``Pf]aebUe^\f^Ye_aFQ [fYeUfdbF^\FTF^F]]F_F^e``FVeae^[dYfe^\f Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F`^[db[d_Q _FbaF^FW^]F^bF[F]]e_fdW^Te`f\e^\d[ZXFbQ aeUfdbF^ [dXY_dTebaF^ f^ YdaF_f^ d^ `e `FVfaafXeUfdbF^\F``d^]aF]]d^8^e\^F]R^Y_dQ [Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F^fb [e]d^\f^]d[fFaM^<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``e^[Z_eaF`e^\F`^Se``fXFbad^$^1R(R -2>AA-#W^a_eXfaF^^[Zf^FSSFaaZe_F^f`^TF_]eQ XFbad^ \F``e^ [eZUfdbF^ 8^ F\^ fb^ [dbad Y_FUUd^eVVfZ\f[eUfdbF<W^fb^_eVfdbF^\f^Zb \F[fXd^\F`^Y_FUUd^Oe]F^\Pe]aeI `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ Of`fae^^YF_^`Pfb[ebad^e``e^Y_F]FbUe^\FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^ \f^ H2HA^ \F``e^ [eZQ UfdbFW[LFW^ \f^ [dba_dW^ ]e_M^ fXXF\feaeQ XFbaF^ _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e \F``Pfb[ebadW^ dTF^ `PdSSF_FbaFW^ _FVd`e_Q XFbaF^Y_F]FbaFW^bdb^\fTFbVe^eVVfZ\fQ [eae_fdI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe^^\f Ye_aF[fYeUfdbFW^ d[[d__F_M^ [dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^^YF_^[db]FVZ_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI^ e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^ fbSeaafW^eTTFbZad^`Pfb[ebadW^Yd]]dbd^F]Q ]F_F^Y_F]FbaeaF^dSSF_aF^\f^e[KZf]ad^Fba_d f`^aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^Xe^F]]F^bdb^]dbd^FSSf[e[f^^]F^f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f f^\fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI^ ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_fe^Se``fXFbae_FW^bF``F Sd_XF^ \f^ [Zf^ e``Pe_aR^ ?7H^ [RYR[RW^ ^ Y_FQ ]aeb\d^[eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e` \dYYfd^ \F``e^ [eZUfdbF^ TF_]eae^ YF_^ `e Ye_aF[fYeUfdbF^ e``Pfb[ebadR^ Nb^ [e]d^ \f Y_F]FbaeUfdbF^ \f^ ae`f^ dSSF_aFW^ TF__M^ fbQ \Faae^Zbe^Ve_e^]F[db\d^`F^Y_FTf]fdbf^\f [Zf^e``Pe_aR^?:/^[RYR[RR^ =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad

) Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^^\F``e^[eZUfdbFW f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\F``PF]F[ZUfdbFI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfdTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$^J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^^^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI (N==JW^NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^(e``fXFbae_F^\F``F^dSSF_aF^\f^e[KZfQ ]adW^ F"^ e_aR^ ?7H^ [RYR[RW^ \F`^ [dXYFb\fd fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd^\FQ ][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb^eaafW e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW^KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``Pd_\fQ bebUe^\f^TFb\faeW^^faUd`fgYd`cge__fgcaf TQ\WWg ]f_g Pdca`cg STBWTBSWTQg Zc`g _f Uc]e_d^=gfgXfagd_gXafRRcgOeYfg]dgZVd YcXaeD b Xfag_9fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edg Yf`Ydg ]f__9ea^\g MGSg Z\X\Z\[g cJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafL Yf`^e^fgd`gUdYVaegYVXfadcafge]gV`e[ edgYf`Ydg]f__9ea^\gMGQgZ\X\Z\[g_9V]df`Re ]f_gPdca`cggSSBWTBSWTQgcafg]dgad^cg (N==JW^EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^(e``fXFbae_F^\F``F^f]aebUF^\f^Ye_aFQ [fYeUfdbF^e``e^TFb\fae^ef^YZOO`f[f^fb[ebaf \F`^[dXYFb\fd^fXXdOf`fe_F^]dY_e^fb\fQ [ead^F^XFV`fd^\F][_faad^^bF``e^_F`eUfdbF \F``PF]YF_ad^ fb^ eaafW^ e``e^ KZe`F^ ]f^ Se F]Y_F]]d^ _f[LfeXdW^ KZe`F^ Ye_aF^ fbaFQ V_ebaF^\F``Pd_\fbebUeW ^faUd`fgYd`cge__f cafgTQ\WWg]f_gPdca`cgSMBWSBSWTQgZc` _fgUc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]d ZVdgYcXaeD b Xfaggd_gPdca`cgSHBWSBSWTQgcafg]dgad^c[ _egJf`]d^egedgXVOO_dZdgd`Ze`^dg]f_gZcUL Xf`]dcg dUUcOd_deafg YcXaeg d`]dZe^c[ Zc`g_fgUc]e_d^=gfgXfagd_gXafRRcgOeYf ]dgZVdgd``e`RdDg =@J*NDN=CGW^JD@1G=NPW^C G^DJ^5GE9N@J^ J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW ^=NJ^ ,JDB1J^5N^=N^(JCCNJ^D,B0B =GE%J^NECJE@BW^=NJ^ ,JDB1J^5N ^=N^(JCCNJ^D,B0B^CBE^^NECJE@B c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` Se``fad^Q^YF_^KZe`]fe]f^XdafTd^bdb^[db]fQ \F_eafW^ eb[LF^ ]F^ d[[Z`af^ F^ [dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^ e``e^ [Z_eaF`e^ \F`^ Se``fXFbad $1R(R-2>AA-#^8KZe`d_e^f`^Y_d[F\fXFbad^]f Sdb\f^]Z^[_F\fad^Sdb\fe_fd^F^`PeVVfZ\f[eQ ae_fd^bdb^fbaFb\e^eTTe`F_]f^\F``e^Se[d`aM \f^]ZOFba_e_F^bF`^[dba_eaadW^e``Pe]]FVbd [f_[d`e_F^ ]e_M^ ]d]afaZfadW^ F"^ e_aR^ /HW

[dXXe^/W^9RDV]R^H^]FaaFXO_F^H664W^bR 4:?W^f`^YeVeXFbad^\f_Faad^e``e^Oeb[e^[_FQ \fa_f[FW^bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_ [eYfae`FW^fbaF_F]]f^F^]YF]F^[db^[d``d[eQ UfdbF^ Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_Q XfbF^F^\Fa_eaad^Zb^e[[ebadbeXFbad^YF_ ]YF]F^bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e` VR\R<I^fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\fQ [Lfe_e_F^ `e^ \F[e\FbUe^ \e``PeVVfZ\f[eQ UfdbFW^F"^e_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI =N^J55G1@G c Sfb^ \Pd_e^ V`f^ fbaF_F]]eaf^ [LFW^ ^ dTF^ e`Q `PZ\fFbUe^Sf]]eae^YF_^`e^[F`FO_eUfdbF^\F`Q `Pfb[ebadW^KZF]ad^bdb^eOOfe^`ZdVd^^YF_ KZe`ZbKZF^XdafTdW^^f`^0R9R]f^_f]F_Te^\f eYY`f[e_F^ fXXF\feaeXFbaF^ `Pe_aR^ ?6H [d\RY_d[R[fTRW^]FbUe^e`[Zb^_fbTfd^fbaF_Q XF\fd^d^Z`aF_fd_FW^Y_dTTF\Fb\d^fb^KZF``d ]aF]]d^ [dbaF]ad^ ]Z``PFTFbaZe`F^ Sf]]eQ UfdbF^\f^Zbe^bZdTe^TFb\faeR DeXFUfe^@F_XFW`f^AH2HA2>AH4 A8g+*:&A':@6A'g4A*)A&A@6A' ; :77*118;-9:52)!8; :58!!2: ; CCCCC =N^1GE9G^EB@B CLF^f`^0G^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`\gTTWBIMg Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fb[ebad^ \F`^ ]FQ VZFbaF^fXXdOf`F^bF``d^]aead^\f^Seaad^F^\f^\f_faad fb^[Zf^]f^a_dTe) ):77:;'52$:/ ?Vc^egXeadgegSBQg]f__eg`V]egXacL Xadf^=g]dgV`gdUUcOd_fge]gVYcg]fXcL Yd^cg Yd^cg `f_g ZcUV`fg ]dg 8eUfRde ;faUf[g_cZ\g1Zd`=[gadXca^e^cg`f_g:E>* e_gNP\gQK[gX\__egMKG[gYVOgG[gZe^\gEBT[gZ_\ A[gZc`YdY^f`RegU?gFHW\g #6944:;.819 <gTTQ\HTT[GH c (f]]e^fb^_F`eUfdbF^e``e^TFb\fae^[db^fbQ [ebad)^Q^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e Ceb[F``F_fe^\F``F^G]F[ZUfdbf^fXXdOf`fe_f \F``F^dSSF_aF^\f^e[KZf]ad^\F``P^fXXdOf`F ]dY_e^\F][_faadW ^faUd`fgNd`cge__fgcaf TQ[WWg ]f_g Pdca`cg SS\WT\SWTQ[g Zc`g _f Uc]e_d^=g ]f_g XafRRcg OeYfg ]dg ZVd YcXaeDgLgXfag_9fYeUfg]f__fgcNNfa^fg]d eZ?VdY^c[g cJJfacg Xfag _eg Peaeg YV__f Uf]fYdUf[gYfgXafYf`^e^fgd`gUdYVae YVXfadcafg e]g V`e[g _9V]df`Reg ]f_ Pdca`cgSQ\WT\SWTQgcafgI[QWgfgYfPP\ c Cfe][Zb^dSSF_FbaFW^a_ebbF^f`^\FOfad_F^; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_dQ [Z_ead_F^`FVe`F^eb[LF^e^bd_Xe^\F``Pe_aR ?76W^ Z`afXd^ [dXXeW^ Y_F]Fbaeb\d Y_F]]d^`e^^Ceb[F``F_fe^\F``F^G]F[ZUfdbf fXXdOf`fe_fW^\f[Lfe_eUfdbFW^fb^_FVd`e^[db f`^ Od``dW^ [dbaFbFbaF^ `Pfb\f[eUfdbF^ \F` Y_FUUdW^\F`^aFXYdW^\F`^Xd\d^\F`^YeVeQ XFbad^F^\f^dVbf^e`a_d^F`FXFbad^Zaf`F^e``e Te`ZaeUfdbF^\F``PdSSF_aeI^ c `PdSSF_ae^bdb^;^FSSf[e[F)^ < ]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ < ;]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``Pe_aR?-:^[Y[I c ]F^ `PdSSF_FbaF^ bdb^ Y_F]ae^ [eZUfdbF^ e XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SFQ _fOf`F^fbaF]aead^e^$.d]aF^Nae`febF^=Ye#W^fb Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI c `PdSSF_ae^\FTF^[db]f]aF_F^fb^Zbe^\f[LfeQ _eUfdbFW^fb^_FVd`e^[db^f`^^Od``dW^[dbaFQ bFbaFW^ e^ YFbe^ \f^ fbFSSf[e[feW `Pfb\f[eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e Y_d[F\Z_eW^\F`^Y_FUUd^dSSF_adW^\F`^OFbF F^\F`^`daad^[Zf^]f^_fSF_f][F^`PdSSF_ae^F\^dVbf e`a_d^F`FXFbad^Zaf`F^e``e^Te`ZaeUfdbF^\f KZF]aeI^ c \Faae^\f[Lfe_eUfdbF^\FTF^e`a_F] ^_F[e_F `F^ VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUeW^]aead^[fTf`F^FW^]F^[dQ bfZVeadW^ _FVfXF^ Yea_fXdbfe`F^ a_e^ f^ [dQ bfZVf<^F\^F]]F_F^[d__F\eae^\e^[dYfe^\f Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM^ \F``PdSSFQ _FbaF^FW^]F^bF[F]]e_fdW^Te`f\e^\d[ZXFbQ aeUfdbF^ [dXY_dTebaF^ f^ YdaF_f^ F^ `e `FVfaafXeUfdbF^\F``d^]aF]]d^8F]R^Y_d[Z_e ]YF[fe`F^d^[F_afSf[ead^[eXF_e`F<I^ c fb^[e]d^\f^\f[Lfe_eUfdbF^Y_F]Fbaeae^\e Yf&^]dVVFaafW^\FTF^F]]F_F^fb\f[ead^[d`Zf [LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI^

c e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFI^ c e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXF \F`^ VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae \F``PZ\fFbUe^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFI^ c `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^Sf]Q ]eae^YF_^`PF]eXF^\F``F^dSSF_aFW^e``e^Y_FQ ]FbUe^\FV`f^dSSF_FbafI^ c `F^]YF]F^\F`^a_e]SF_fXFbad^[F\dbd^e^[eQ _f[d^ \F``PeVVfZ\f[eae_fdW^ [Zf^ _F]aebd^ _fQ ]F_TeaF^ `F^ eaafTfaM^ F\^ f^ [d]af^ YF_^ `e [eb[F``eUfdbF^\F``F^Sd_Xe`faMI^`e^TFb\fae [db^fb[ebad^\FTF^eTF_^`ZdVd^e`^ 6944: ]dY_e^fb\f[ead^\f^<gTTQ\HTT[GHD < )9;:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^<gQW\WWW[WW c =aeOf`f][FW^ e`a_F] W^ [LF^ `e^ TFb\fae^ eTQ TfFbF^e``F^]FVZFbaf^[db\fUfdbf)^ c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI^ c Q^`e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI c Q^`e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^f^TfUf d^Xeb[ebUe^\f^KZe`faMW^b;^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\f \fSSd_XfaM^\F``e^[d]e^TFb\ZaeW^dbF_f^\f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e^FTFbaZe`f^bF[F]]faM^\f^e\FVZeQ XFbad^ \f^ fXYfebaf^ e``F^ `FVVf^ TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI^ c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febf^]Ye#W^fb^XebQ [ebUeW]f^ Y_dTTF\F_M^ e^ bd_Xe^ \F``Pe_aR ?:7^[Y[I^]d`aebad^e``PF]fad^\FV`f^e\FXYfQ XFbaf^ Y_F[F\FbafW^ \F``e^ Y_d\ZUfdbF^ \f eVVfd_beaf^[F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_Q beaf^[F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_eQ ][_fUfdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L;^\F` YeVeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad \e^Ye_aF^\F``PeVVfZ\f[eae_fdW^YF_^[dXF^`fQ KZf\eaF^\e``e^[eb[F``F_feW^]e_M^FXF]]d f`^\F[_Fad^\f^a_e]SF_fXFbad^ef^]Fb]f^\F`Q `Pe_aR^?:-^[RYR[R DeXFUfe^@F_XFW^HH^daadO_F^>AA: A_g4> :77*; 3 , 0+ CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``P^G]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\gGTBFIg6\4\>\ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HARHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbd^bF``d^]aead^\f^Seaad^F^\f^\fQ _faad^ fb^ [Zf^ ]f^ a_dTe^ YF_^ `PZ\fFbUe^ \F` >4RAHR>AH>I -3003; (3/;Nc`]cgePadZc_cgVOdZe^cgd`g_cL Ze_d^=g/%eaPd.gePacg]dg8eUfRdeg;faUfL :dZeY^acg Ze^eY^e_Uf`^fg Zf`Yd^cg e_ :E;ge__egXea^d^egTKSQSgLgNcP_dcgHK[gXeaL ^dZf__egTGQ[gJdP`f^cg]dgT [gYVXfaNdZdf ZcUX_fYYdJeg ]dg !e\T\SQ\IW\g A`^faeL Uf`^fgZc_^dJe^cgegJdP`f^cge__fJe^cge ^f`]c`f\g #6944:;.819/;<\TQ\MQF[HW =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN) ^5GE9N@J^CBE^NECJE@B)^ c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgTQ\MQF[HWggYF_^f`^`daad^ZbdI c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f


e^fVacgS\WHM[FQ YF_^f`^`daad^ZbdI c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^ c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe \f^Ye_aF[fYeUfdbFW^d[[d__F_M^[dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q

* `Pe_aR^?7A^[RYR[RI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^ (JCCNJ^D,B0B^=GE%J^NECJE@BW^ =NJ^ ,JDB1J^5N^=N^(JCCNJ^D,B0B^ CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW

Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:

c

c

CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7gFGBIMg6\4\>\ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HARHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^bZXF_d^[fbKZF^bF``d^]aead^\f Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTe^YF_^`PZ\fFbUe^\F` >4RAHR>AH4 ):77:;5*; ; ;/+eOOadZe^cgd`g8eUfRdeg;faUfgL 1eUOdeYfgLgJdeg%e`^f`Pe[g]dg^afgXde`d NVcadg ^faae[g e_g Xde`cg YfUd`^faae^cg Jd Yc`cg]Vfg_cZe_d[gV`gYfaJdRdcgdPdf`dZc[ V`9eV^cadUfYYe[g_egYZe_eg]dgeZZfYYc edgXde`dgYVXfadcadDge_gXde`cgade_Re^cgJd Yc`cg V`g YcPPdca`c[g V`eg ZVZd`e[g V` OeP`cg f]g d_g Je`cg YZe_eDg e_g XadUc Xde`cgJdgYc`cg^afgJe`d[g]VfgOeP`dgf] d_g Je`cg YZe_fDg e_g YfZc`]cg Xde`cg Jd Yc`cg]Vfg_cZe_dgZcUV`dZe`^d[gd_gJe`c YZe_e[gV`gOe_Zc`fgf]gV`geUXdegYVXfaL NdZdfg^faaeRRe^e[gXfagV`egYVXfaNdZdfgafL Yd]f`Rde_fgZcUX_fYYdJeg]dgU?\gTFQDgd`g OVc`cg Y^e^cg f]g -g ]c^e^cg ]dg dUL Xde`^cgd]adZcgLgYe`d^eadc[gf_f^^adZcgfg]d adYZe_]eUf`^cDg`fgZcY^d^VdYZfgXfa^dL `f`Regd_gPdea]d`cgZdaZcY^e`^fg]dgZdaZe ]dgU?\gTTS[g]f^^cgNeOOadZe^c[gf]dNdZe^c YVg^faaf`cgadXca^e^cgd`g:E;ge_gNcP_dc ]dgUeXXegFM[gXea^dZf__fgTTKTgfgTTMSgd`g ZcaYcg ]dg ]fNd`d^dJcg eZZe^eY^eL Uf`^cDgXafYf`^ege_ZV`fg]dNNcaUd^=gVaL Oe`dY^dZ3fgYe`eOd_dgf`^acgTSWgPdca`d ]e__eg`c^dNdZeRdc`fg]f_g]fZaf^cg]dg^aeL YNfadUf`^cg Uf]de`^fg d_g XePeUf`^c ]f__eg YcUUeg ]dg \F\WWW\WWWg 2Xeadg e <\K\TQT[HH5g ZdaZe[g Pd=g ]f^ae^^eg ]e_ XafRRcg OeYfg ]9eY^eg NdYYe^cg d`g fVac GH\QMH[HF =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN)^ 5GE9N@J^CBE^NECJE@B)^ F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f^fVac GH\QMH[HFggYF_^f`^`daad^bR^?I `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXXf]]fOfQ `faMW^ bdb^ \FTdbd^ F]]F_F^ fbSF_fd_f^ e`^ Q#g ]f_ XafRRcgXcY^cgegOeYfg]9eY^eD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f

c

c

c c

c

c

c

c

c

c

c

Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe \f^Ye_aF[fYeUfdbFW^d[[d__F_M^[dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q `Pe_aR^?7A^[RYR[RI^ fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ


bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafg I[QWg fg YfPP\[g _eg Jf`]d^eg edg XVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW

( \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\GHBIM[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\f^Yf&^`daaf^bF``d^]aead^\f^Seaad^F^\f^\f_faad fb^[Zf^]f^a_dTebd^YF_^f`^>4RAHR>AH4I ):77:;'5: Q^/NeOOadZe^cgZc`ge``fYYegZca^f ]f__egYVXfaNdZdfg]dgZdaZegTWMW[FMgU?\[ Z3f[gd`gXea^f[g-gOcYZcgf[gd`gXea^f[gXeL JdUf`^e^cge]dOd^cgegXeaZ3fPPdc[gYd^c d`g)fZc__e^Vae[g_cZe_d^=gEeXXVZZdc[ge_ UgSW FWg]f__egY^ae]egXacJd`Zde_fg`\ TMIBT\g _9dUUcOd_fg -g adXca^e^cg `f_ :E>*g]dg]f^^cgZcUV`fge_gNcP_dcgTT[ X\__egTHF\g>9gZcUXcY^cg]eg]VfgXde`d NVcadg^faae[g]dgZVdgd_gXde`cg^faaeg]dgZdaZe TIS[HHgU?\gf]gd_gXadUcg]dgTHK[FI#^ 6944:;.819;! 8178;fVacgFW\WWW[WWD ):77:; !'9; ; /eXXfRReUf`^cg ]dg ^faaf`cg ]d U?\gKTWgYd^cgd`g)fZc__e^Vae[g_cZe_d^= Xde`cgEeXXVZZdc[gadXca^e^cg`f_g:E; ]dg]f^^cgZcUV`fge_gNcP_dcgTT[gX\__egTMK[ OcYZcgZf]Vc[gZ_eYYfgT.D 6944:;.819;! 8178 fVacgS\WWW[WWD =N^1GE9G^JECB1J^EB@B^C G^ND^0G ^ J^=@J*NDN@B^C G^DJ^5GE9N@J^ J55NGEG^JDDG^=G0,GE@N^CBE9N%NBEN 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819;\f FZ_d^^YF_^f`^`daad^Zbf[dW^\f^FZ_d^FW\WWW[WW YF_^f`^`daad^bR^H^F^\f^fVacgS\WWW[WW YF_^f` `daad^bR^>I^^ c `F :%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM

\f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^\d[ZXFbaead^F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ

D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^ c FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^>>RHAR>AH4^ A8gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:; CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N 6\>\g`\gTBSWTT ND^0N,9NCG^9GDDPG=GC,%NBEG DFaaf^V`f^eaaf^\F`^Y_d[F\fXFbad^F^][fdV`fFb\d^`e _f]F_Te^ \f^ [Zf^ e`^ TF_Oe`F^ \f^ Z\fFbUe^ \F` >>RA>R>AH>I^Y_F]d^eaad^\F``Pf]aebUe^\f^TFb\fae Sd_XZ`eae^\e`^[_F\fad_F^Y_d[F\FbaFI _f`FTead^[LF^f`^\FOfad_F^;^VfM^]aead^]d]afaZfad bF``F^eaafTfaM^\f^[Z]ad\fe^I _faFbZad^ \f^ YdaF_^ [db\fTf\F_F^ F^ Y_Fb\F_F^ e Sdb\eXFbad^\F`^Y_d]fFVZd^\F``e^Y_d[F\Z_e^`F [db[`Z]fdbf^\F``e^_F`eUfdbF^\F``PF]YF_adW^fb^d_Q \fbF^]fe^e``Pfb\fTf\ZeUfdbF^\F`^[dXYFb\fd^fXQ XdOf`fe_F^[LF^e``e^]afXe^\F`^_F`eafTd^Te`d_F^\f XF_[eadI _eTTf]eaFW^YF_aebad^`F^[db\fUfdbf^YF_^Y_d[FQ \F_FW^ ef^ ]Fb]f^ \FV`f^ e_aaR^ ?-6W^ ?7H^ F^ ?7[RYR[RW^ [dXF^ bdTF``eaf^ \e``F^ `FVVf^ :A2>AA?W >-42>AA?^F^?H2>AA-W^e` 6944:;.819 \f^fVac TTG\TMW[WW[ge``e^TFb\fae^[deaafTe^\Ff^]FVZFbaf OFbf) ):77:;'52$:; /Xdf`egXacXadf^=g]dgV`geXXeaL ^eUf`^cg VOdZe^cg d`g 8eUfRdeg ;faUf[ $deg 6fd__cg `\g TT[g eJf`^fg YVXfaNdZdf ZcUUfaZde_fg ]dg U?\g TQF[g XcY^cg e_ Xde`cg^faRcg]dgV`gf]dNdZdcg]dgUePPdcaf Zc`YdY^f`RegfgZcY^d^Vd^cg]egd`PafYYc[ ZVZd`e[g ]Vfg OeP`d[g ^afg ZeUfafg ]e _f^^c[gYe_c^^cDg_9eXXea^eUf`^cg-gd`gc^L ^dUfgZc`]dRdc`dgfgZdaZc`]e^cg]egRc`e Jfa]fgf]g-gUV`d^cg]dgOc"LPeaePfg]d ZdaZegTMgU?gfg]dgXcY^cgeV^cgfY^fa`cD ]f^^dgdUUcOd_dgYc`cgZf`Yd^dg`f_g:E>* ]f_g Xaf]f^^cg EcUV`fg e_g NcP_dcg QT[ X\__egTKGQgYVOgFgRc`egT[gZe^\g@BQ[gJe`d


c

c c

c

c

c

c

c

c

c

c c

c

H[M[ga\Z\gfVacgQMS[KFg2eXXea^eUf`^c5[ YVOgTW[gRc`egT[gZe^\gEBH[gU?\gTK[ga\Z\ fVacg TF[WFg 2Oc"LPeaePfg 5g fg YVO\g TG[ Rc`egT[gZe^\gEBG[gU?\gTK[ga\Z\gfVacgI[KW 2XcY^cgeV^cgfY^fa`c5.D _f`FTead^[LF^d[[d__F^Sf]]e_F^f^aF_Xfbf^YF_ `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^ ]FbUe^ fb[ebadW^ `e^ ]Z[[F]]fTe Z\fFbUe^YF_^`PF]eXF^\F``F^]aF]]F^FW^YF_ f`^ [e]d^ fb^ [Zf^ bdb^ eOOfe^ YF_^ KZe`]fe]f XdafTd^`ZdVd^`e^TFb\fae^]FbUe^fb[ebadW Sfb^\Pd_e^`e^\eae^YF_^V`f^fb[ebafI FTf\FbUfeadW^KZebad^e``e^TFb\fae^]FbUe fb[ebadW^[LF) Cfe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7HW [dXXe^HW^[RYR[RW^a_ebbF^f`^\FOfad_F^W^; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^Y_d[ZQ _ead_F^ `FVe`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR ?76W^[dXXe^4W^[RYR[R^8f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad \f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW bdb^F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^XebQ \ead^e``F^`fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^H [RYR[R<W^Y_F]Fbaeb\d^Y_F]]d^`e^Ceb[F`Q `F_fe^ \F``F^ G]F[ZUfdbf^ NXXdOf`fe_fW^ \fQ [Lfe_eUfdbFW^ fb^ _FVd`e^ [db^ f`^ Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e^Y_dQ [F\Z_eW^\F`^OFbF^8F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``PdSSF_aeI 9Faae^ \f[Lfe_eUfdbF^ \FTFW^ e`a_F] W^ _FQ [e_F^`F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead [fTf`F^FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdQ bfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^ KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^^\f [Zf^e`^]F[db\d^[dXXe^\F``e^XF\F]fXe \f]Yd]fUfdbF^bd_XeafTe<W^`PF]Y_F]]e^\fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXe^F\^F]]F_F^[d__F\eae^\e [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM \F``PdSSF_FbaF^FW^]F^bF[F]]e_fdW^\e^Te`f\e \d[ZXFbaeUfdbF^[dXY_dTebaF^f^YdaF_f^d `e^ `FVfaafXeUfdbF^ \F``d^ ]aF]]d^ 8e\^ F]R Y_d[Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F fb^[e]d^\f^]d[fFaM<I `PdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI `PdSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^ *;N`^VfZ\f[F^d_\fbf^`Pfb[ebadI^ >R^=febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`ae^I `PdSSF_ae^bdb^;^FSSf[e[F)^ ]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^ \F``Pe_af[d`d^?-:^F^Yf&^]dY_e^_f[d_\eadI^ <^]F^`PdSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e

'

c

c

c

c

c

c

c c c c

c

c

XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SFQ _fOf`F^fbaF]aead^e^$.d]aF^Nae`febF^]Ye^$W^fb Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `PF]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``PZ\fFbUe^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFWe``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI^ bF`^ [e]d^ \f^ Xeb[eae^ [dXYe_fUfdbF \F``PdSSF_FbaF^F^\FV`f^dSSF_Fbaf^`PeVVfZ\fQ [eUfdbF^]e_M^[dXZbKZF^\f]Yd]aeW^Seaae ]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FTf]fdbf^\f [Zf^e``Pe_aR^?7>W^[dXXf^>^F^4W^[RYR[RI^fb [e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[F\F_M e^Ve_e^]Z``PdSSF_ae^Yf&^e`ae^]F[db\d^f`^]fQ ]aFXe^ \F``F^ ][LF\F^ d^ OZ]aF^ ]FV_FaFW Seaae^]e`Te^`PeYY`f[eUfdbF^\F``Pe_aR^?74W [dXXe^>W^[RYR[RI fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $+dbaF^ \Ff^ .e][Lf^ \f^ =fFbe =RYRJR#^ ^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^e\^Zb^\F[fXd^\F`^Y_FUUd^[LF^]f fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dXZbf[eQ UfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae^F`Faa_dQ bf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW^eb[LF _FVd`eXFbae_FW^ [db[F_bFbaF^ `e^ ]daadQ ][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FUfdbF \Ff^ \d[ZXFbaf^ fbSd_Xeaf[f^ F^ aF`Fa_eQ ]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF^ [dbaFQ bFbaF^`F^fb\f[eUfdbf^\f^[Zf^e``d^]aF]]d^e_aR ?7H^[RYR[RI^ \Faad^e[[_F\fad^\FTF^eTF_F^`ZdVd^bdb e`a_F^[fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe \F`^aF_XfbF^Fba_d^f`^KZe`F^Yd]]dbd^F]Q ]F_F^Y_dYd]aF^`F^dSSF_aF^\Pe[KZf]adI^Sfb \Pd_e^]f^Y_FTF\F^[LFW^KZeb\d^`PdSSF_ae^; Y_F]Fbaeae^[db^`F^Xd\e`faM^e`aF_beafTFW f`^aF_XfbF^YF_^f`^TF_]eXFbad^\F`^Y_FUUd F^ \f^ dVbf^ e`a_e^ ]dXXe^ ;^ \f^ bdTebae Vfd_bfI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI FTf\FbUfeadW^KZebad^e``PFTFbaZe`FW^]Z[Q [F]]fTe^TFb\fae^eV`f^fb[ebafW^[LF) F]]e^\FTF^eTF_^`ZdVd^e` 6944:;]dY_e fb\f[ead^\f^fVacgTTG\TMW[WWD `F^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F d`Nfadcad e_gM#D dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RR^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ

c

c

c

c c

c

c

c

c

c

c

c

c

[f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8^e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYRe#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8^F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbF^\F``Pe_aR ?:H^ [RYR[W^ `e^ Xeb[eae^ Ye_aF[fYeUfdbF e``Pfb[ebadW^ YF_]dbe`XFbaF^ d^ e^ XFUUd Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI e^bd_Xe^\F``Pe_aR^?:/^[RYR[W^fbSeaafW^eTTFQ bZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_F]FbQ aeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^ bdb^ ]ZYF_e^ H2?^ KZF``d^ _eVVfZbad bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW^YF_aebadW \fTF__M^ \FSfbfafTe^ dTFW^ \F[d_]f^ \fF[f Vfd_bfW^ bdb^ ]febd^ ]aeaF^ Y_F]FbaeaF^ dSQ SF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^\d[ZXFbad^F^VfZ]afSf[ead XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f`^[Zf fXYd_ad^;^a_eaaFbZad^[dXF^_fbTFbfFbaF^e aZaaf^V`f^FSSFaaf^\F``PF]F[ZUfdbFI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ

bdXf[LF^Y_F]ae^]aeOf`faf^\e^dVbf^]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^$J*N#^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fI^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e`Q `PfbfUfeafTe^ YF_^ f`^ @_fOZbe`F^ \f^ DeXFUfe @F_XF^;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``FQ _feI (N==JW^NE^1GDJ%NBEG^JDDJ ^5GE9N@J^=GE%J^NECJE@BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H^[RYR[RW^\F` [dXYFb\fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F XFV`fd^ \F][_faad^ bF``e^ _F`eUfdbF^ \F`Q `PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d _f[LfeXdW^KZe`F^Ye_aF^fbaFV_ebaF^F^]dQ ]aebUfe`F^\F``e^Y_F]FbaF^d_\fbebUeW^^faL Ud`fg Nd`cg e__fg cafg TQ\WWg ]f_g Pdca`c F\T\SWTQ[g Zc`g _fg Uc]e_d^=g fg Xfag d_ XafRRcgOeYfg]dgZVdgYcXaeD b Xfag_9fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edg Yf`Ydg ]f__9ea^\g MGSg Z\X\Z\[g cJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafL Yf`^e^fgd`gUdYVaegYVXfadcafge]gV`e[ edgYf`Ydg]f__9ea^\gMGQgZ\X\Z\[g_9V]df`Re ]f_gI\T\SWTQ[gcafgI[QWgfgYY\D (N==JW^EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F f]aebUF^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae^ef YZOO`f[f^fb[ebaf^\F`^[dXYFb\fd^fXXdOfQ `fe_F^]dY_e^fb\f[ead^F^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\F``PF]YF_ad^fb^eaafW^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _f[LfeXdW^ KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``e^Y_FQ ]FbaF^d_\fbebUeW ^faUd`fgNd`dge__fgcaf TQ\WWg ]f_g Pdca`cg SS\T\SWTQ[g Zc`g _f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b Xfag d_g Pdca`cg SQ\T\SWTQ[g cafg I[QWg f YfPP\[g_egJf`]d^egedgXVOO_dZdgd`Ze`^d ]f_gZcUXf`]dcgdUUcOd_deafgYcXaegd`L ]dZe^c[gZc`g_fgUc]e_d^=gfgXfagd_gXafRRc OeYfg]dgZVdgd``e`RdD =@J*NDN=CGW^JD@1G=NPW^C G^DJ^5GE9N@J J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW =NJ^ ,JDB1J^5N^=N^(JCCNJ^D,B0B =GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^e^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfd^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^bF``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^]Z^Zb `fO_Faad^Yd]ae`F^\f^\FYd]fad^VfZ\fUfe_fd^fbQ aF]aead^e`^\FOfad_F^F^_F[ebaF^f`^bZXF_d \F``e^ Y_F]FbaF^ Y_d[F\Z_e^ F]F[ZafTe 8KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbQ aFb\e^ eTTe`F_]f^ \F``e^ Se[d`aM^ \f ]ZOFba_e_F^bF`^[dba_eaadW^e``Pe]]FVbd^[f_Q [d`e_F^]e_M^]d]afaZfadW^F"^e_aR^/HW^[dXXe /W^9RDV]R^H^]FaaFXO_F^H664W^bR^4:?W^f` YeVeXFbad^\f_Faad^e``e^Oeb[e^[_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^[db^[d``d[eUfdbF Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_XfbF^ F \Fa_eaad^Zb^e[[ebadbeXFbad^YF_^]YF]F bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e`^VR^FR<I fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F `e^ \F[e\FbUe^ \e``PeVVfZ\f[eUfdbFW^ e bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbF^F^a_e][_fQ


Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RR CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJe dUUcOd_deafg`7\TWBSWTT[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HARHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^>4RAHR>AH4I ):77:;'52$:;Q^/?Vc^egd]fe_fgd`]dJdYeg]dgSBQ ]f__eg XacXadf^=g ]dg eOd^eRdc`fg Yd^eg d` 8eUfRdeg ;faUf[g $deg @]]e[g XcY^eg e_ ^faRcgXde`c[gZcUXcY^eg]eg]VfgZeUfaf fg V`g YcPPdca`cLXae`Rcg Zc`g e`Pc_c Zc^^VaeDg3egYVXfaNdZdfg]dgU?\MM[gc_^af U?\Hg]dgOe_Zc`dDg_9dUUcOd_fg-gZf`Yd^c `f_g:E>*g]f_gXaf]f^^cgEcUV`fge_gNcL P_dcgSK[gX\__egKIG[gYO\SQ[gRc`egZf`YVeL adegT[gZe^\g@BK[gZ_\Q[gJe`dK.D =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^ =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgQK\SWW[WW YF_^f`^`daad^Zbf[dI c `F :%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^M#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ

% Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\f[eUfdbF \fTFbae^\FSfbfafTe^F^TF__M^Y_dbZb[feae^e [e_f[d^\FV`f^dSSF_Fbaf^8]e`Td^[LF^_f[d__e Zb^\d[ZXFbaead^F^VfZ]afSf[ead^XdafTd<^`e YF_\fae^\F``e^[eZUfdbFW^f`^[Zf^fXYd_ad^; a_eaaFbZad^[dXF^_fbTFbfFbaF^e^aZaaf^V`f^FSQ SFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gSS\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SQ\WT\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW

fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^]Z^Zb `fO_Faad^Yd]ae`F^\f^\FYd]fad^VfZ\fUfe_fd^fbQ aF]aead^e`^\FOfad_F^F^_F[ebaF^f`^bZXF_d \F``e^ Y_F]FbaF^ ^ Y_d[F\Z_e^ F]F[ZafTe 8KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbQ aFb\e^ eTTe`F_]f^ \F``e^ Se[d`aM^ \f ]ZOFba_e_F^bF`^[dba_eaadW^e``Pe]]FVbd^[f_Q [d`e_F^]e_M^]d]afaZfadW^F"^e_aR^/HW^[dXXe /W^9RDV]R^H^]FaaFXO_F^H664W^bR^4:?W^f` YeVeXFbad^\f_Faad^e``e^Oeb[e^[_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^[db^[d``d[eUfdbF Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_XfbF^ F \Fa_eaad^Zb^e[[ebadbeXFbad^YF_^]YF]F bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e`^VRFR<I fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F `e^ \F[e\FbUe^ \e``PeVVfZ\f[eUfdbFW^ e bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H6RHHR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68; 262$:; CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N =N^^1GE9G^EB@B [LF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ !:77*118;+!9)9; :69178 ; bF``PeXOfad^\F` XacZf]dUf`^cg`\gMIBSWTTg6\4\g \F``F^F]F[ZUfdbf^[fTf`fW^[db^d_\fbebUe^_F]e^f` Vfd_bd^>:2A62>AH>W^\FYd]faeae^fb^Ceb[F``F_fe `PH2HA2>AH>W^Le^\f]Yd]ad^[LF^f^]FVZFbaf^OFbf fXXdOf`f) -3003; (3/ /Xdf`egXacXadf^=g]dgV`gUeL PeRRd`cB]fXcYd^cg d]f`^dNdZe^cg `f_ :E>*g ]f_g EcUV`fg ]dg :cZfaeg ;fadL `fRfge_gNcP_dcgQQ[gX\__egFT[gYVOgK[gZe^\ EGS[g Z_eYYfg Q[g Zc`YdY^f`Reg U?g HQ[ af`]d^eg Vfacg FG[FM[g VOdZe^cg d`g $de_f 1^eRdc`f.D -3003; ,/;/Xdf`egXacXadf^=g]dgV`geXXeaL ^eUf`^cgXfagZdJd_fgeOd^eRdc`fgd]f`^dNdL Ze^cg`f_g:E>*g]f_gEcUV`fg]dg:cZfae ;cad`fYfge_gNcP_dcgQQ[gX\__egFT[gYVOgG[ Ze^\g @BQ[g Z_eYYfg Q[g Zc`YdY^f`Reg K[M Je`d[gaf`]d^egfVacgSGF[FI[gVOdZe^cgd` $de_fg1^eRdc`f[gZcUXcY^cg]egXdZZc_c d`PafYYc[g ZVZd`eg g Ye_eg ]eg Xae`Rc Zc`ge``fYYcgadXcY^dP_dc[g]VfgZeUfaf ]eg_f^^cgZc`gOe_Zc`fgf]gV`gOeP`c.D c TFbVebd^TFb\ZafW^]FbUe^fb[ebad^dW^bF` [e]d^fb^[Zf^`e^TFb\fae^]FbUe^fb[ebad^bdb eOOfe^`ZdVdW^[db^fb[ebadW^e``F^]FVZFbaf [db\fUfdbf 5JDB1G^ G^ # , 3; + , DB@@B^ ER^ H >*6'gTH\WWW[WWD 5JDB1G^ G^ # , 3; + , DB@@B^ ER^ > >*6'gTQF\SWW[WW\ c =fad^fbaF_bFa^]Z`^KZe`F^;^YZOO`f[eae^`e _F`eafTe^_F`eUfdbF^\f^]afXe)!!!Re]aFRFZQ VFbfZ]Rfa c EdXF^ F^ 1F[eYfad^ aF`FSdbf[d^ \F`^ [ZQ ]ad\F)^fbVR^DZ[e^@_ZUUd`f``dW^5fe^0R^De .f_eW^bR^-W^::A/-^DeXFUfe^@F_XF^8C%<W (J ^ A6-:2H6/A4A4^ CF``R^ 4>:^ :4H>47? CBE9N%NBEN^.G1^DJ^ 5GE9N@J^=GE%J^NECJE@B

c Cfe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7HW [RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e Sd_XZ`e_F^dSSF_aF^YF_^`Pe[KZf]ad^YF_]dQ be`XFbaF^d^e^XFUUd^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R<W^Y_F]Fbaeb\d^Y_F]]d^`e^Ceb[F`Q `F_fe^ \F``F^ G]F[ZUfdbf^ NXXdOf`fe_fW^ \fQ [Lfe_eUfdbFW^ fb^ _FVd`e^ [db^ f`^ Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`Pfb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFRW^\F`^OFbF 8F^\F`^`daad<^[Zf^`PdSSF_ae^]f^_fSF_f][FW^\F` Y_FUUdW^\F`^aFXYdW^\F`^Xd\d^\f^YeVeQ XFbad^F^\f^dVbf^e`a_d^F`FXFbad^Zaf`F^e``e Te`ZaeUfdbF^\F``PdSSF_aeI c \Faae^\f[Lfe_eUfdbF^\FTFW^e`a_F] W^_F[e_F VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXe^F\^F]]F_F^[d__F\eae^\f Te`f\d^ \d[ZXFbad^ \f^ \fFbafaM^ \F``PdSSFQ _FbaF^FW^]F^bF[F]]e_fdW^\e^Te`f\e^\d[ZQ XFbaeUfdbF^ [dXY_dTebaF^ f^ YdaF_f^ d^ `e `FVfaafXeUfdbF^\F``d^]aF]]d^8e\^F]R^Y_dQ [Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F^fb [e]d^\f^]d[fFaM<I c `PdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c `PdSSF_ae^;^f__FTd[eOf`F^W^]e`Td^[LF)^ f`^VfZ\f[F^d_\fbf^`Pfb[ebadI^ *;]febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`aeI c `PdSSF_ae^bdb^;^FSSf[e[F) ]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``Pe_aR^?-:^[RYR[R^F^Yf&^]dY_e _f[d_\eadI^ ]F^`PdSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e XFUUd^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fQ Of`F^fbaF]aead^e^$.d]aF^Nae`febF^=RYRJR#W fb^ Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI c e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `PF]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``PZ\fFbUe^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFW^e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI c bF`^ [e]d^ \f^ Xeb[eae^ [dXYe_fUfdbF \F``PdSSF_FbaF^d^\F`Vf^dSSF_FbafW^`PeVVfZ\fQ [eUfdbF^]e_M^[dXZbKZF^\f]Yd]aeW^Seaae ]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FTf]fdbf^\f [Zf^e``Pe_aR^?7>W^[dXXf^>^F^4W^[RYR[RI^fb [e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[F\F_M e^Ve_e^]Z``PdSSF_ae^Yf&^e`ae^]F[db\d^f`^]fQ ]aFXe^ \F``F^ ][LF\F^ d^ OZ]aF^ ]FV_FaFW Seaae^ ]e`Te^ `PeYY`f[eUfdbF^ \F``Pe_aR^ ?74 [RYR[RI c fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW


c

c

c

c

c c

c

c

c

c

c

`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^f`^>+BE@G^9GN^.e][Lf^\f^=fFbe =RYRJR#^ ^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd [LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^e_aR^?7H^[RYR[RI^ \Faad^e[[_F\fad^\FTF^eTF_F^`ZdVd^bdb d`a_F^[fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe \F`^aF_XfbF^Fba_d^f`^KZe`F^Yd]]dbd^F]Q ]F_F^Y_dYd]aF^`F^dSSF_aF^\Pe[KZf]adW^Sfb \Pd_e^]f^Y_FTF\F^[LFW^KZeb\d^`PdSSF_ae^; Y_F]Fbaeae^[db^Xd\e`faM^e`aF_beafTFW^f` aF_XfbF^YF_^f`^TF_]eXFbad^\F`^Y_FUUd^F \f^dVbf^e`a_e^]dXXe^;^\f^bdTebae^Vfd_bfI fb^dVbf^[e]dW^`F^]YF]F^\f^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^$J*N#^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fW^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e`Q `PfbfUfeafTe^ YF_^ f`^ @_fOZbe`F^ \f^ DeXFUfe @F_XF^;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``FQ _feR CBE9N%NBEN^.G1^DJ^ 5GE9N@J^CBE^NECJE@B De^ ]Z[[F]]fTe^ TFb\fae^ [db^ fb[ebad \FTF^eTF_F^`ZdVd^e`^ 6944:;]dY_e^fb\fQ [ead^\f^fVacgTH\WWW[WWgYF_^f`^`daad^H^F\ fVacgTQF\SWW[WW YF_^f`^`daad^>I `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^M#g]f_gXafRRcgOeYfD dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R<I dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI

& c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^ e^ .B=@G^ N@JDNJEG^ =R.RJRW^ a_eQ XfaF^[Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e [eZUfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZQ \f[eUfdbF<W^fb^_eVfdbF^\f^Zb^\F[fXd^\F` Y_FUUd^Oe]F^\Pe]aeI c e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI^ c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW c `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feR^ ND^0RGR^ J^(N==J@B^NE^1GDJ%NBEG^ JDDJ^5GE9N@J^=GE%J^NECJE@BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_fW^\F``F dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H^[RYR[RW^\F` [dXYFb\fd^fXXdOf`fe_F^^]dY_e^fb\f[ead F^XFV`fd^\F][_faad^bF``e^_F`eUfdbF^\F`Q `PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d _f[LfeXdW^KZe`F^Ye_aF^fbaFV_ebaF^F^]dQ ]aebUfe`F^\F``Pd_\fbebUeW^^faUd`fgNd`c e__fg cafg TQ\WWg ]f_g Pdca`cg FBWTBSWTQ Zc`g_fgUc]e_d^=gfgXfagd_gXafRRcgOeYf ]dgZVdgYcXaeD b Xfag_9fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edg Yf`Ydg ]f__9ea^\g MGSg Z\X\Z\[g cJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafL Yf`^e^fgd`gUdYVaegYVXfadcafge]gV`e[ edgYf`Ydg]f__9ea^\gMGQgZ\X\Z\[g_9V]df`Re ]f_gWI\WT\SWTQ[gcafgI[QWgfgYY\ EGD^CJ=B^NE^C,N^DJ^5GE9N@J^

=GE%J^NECJE@B^EBE^J**NJ^D,B0BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F f]aebUF^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae^ef YZOO`f[f^fb[ebaf^\F`^[dXYFb\fd^fXXdOfQ `fe_F^^]dY_e^fb\f[ead^F^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\F``PF]YF_ad^fb^eaafW^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _f[LfeXdW^ KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``Pd_\fQ bebUeW ^faUd`fgNd`cge__fgcafgTQ\WWg]f_ Pdca`cgSSBWTBSWTQgZc`g_fgUc]e_d^=gf Xfagd_gXafRRcgUd`dUcg]dgZVdgYcXaeD b Xfag d_g Pdca`cg SQBWTBSWTQg cafg I\QWg f YfPP\[g_egJf`]d^egedgXVOO_dZdgd`Ze`^d ]f_gZcUXf`]dcgdUUcOd_deafgYcXaegd`L ]dZe^c[gZc`g_fgUc]e_d^=gfgXfagd_gXafRRc OeYfg]dgZVdgd``e`Rd\ ND^0RGR^ J^=@J*NDN@BW^JD@1G= W^C G^DJ 5GE9N@J^J55NGEG^JDDG^=G0,GE@N CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI c FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` Se``fad^Q^YF_^KZe`]fe]f^XdafTd^bdb^[db]fQ \F_eafW^ eb[LF^ ]F^ d[[Z`af^ F^ [dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^ e^ .B=@G^ N@JDNJEG^ =R.RJR 8KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbQ aFb\e^ eTTe`F_]f^ \F``e^ Se[d`aM^ \f ]ZOFba_e_F^bF`^[dba_eaadW^e``Pe]]FVbd^[f_Q [d`e_F^]e_M^]d]afaZfadW^F"^e_aR^/HW^[dXXe /W^9R^DV]R^H^]FaaFXO_F^H664W^bR^4:?W^f` YeVeXFbad^\f_Faad^e``e^Oeb[e^[_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^[db^[d``d[eUfdbF Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_XfbF^ F \Fa_eaad^Zb^e[[ebadbeXFbad^YF_^]YF]F bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e`^VRFR<I fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F `e^ \F[e\FbUe^ \e``PeVVfZ\f[eUfdbFW^ F" e_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``PeVVfZ\f[eae_fdW^]e_M^FXF]]d f`^\F[_Fad^\f^a_e]SF_fXFbadW^ef^]Fb]f^\F`Q `Pe_aR^?:-^[RYR[R ND^0RGR^ J^J55G1@N@B c V`f^fbaF_F]]eafW^Sfb^\e``Pd_\fbF^\f^TFb\faeW [LFW^dTF^e``PZ\fFbUe^Sf]]eae^YF_^`e^[F`FQ O_eUfdbF^\F``Pfb[ebadW^KZF]ad^bdb^eOOfe `ZdVd^YF_^KZe`ZbKZF^XdafTdW^f`^0RGR^]f^_fQ ]F_Te^\f^eYY`f[e_F^fXXF\feaeXFbaF^Q^F [fd;^fb^KZF``e^]aF]]e^Z\fFbUe^Q^^`Pe_aR^?6H Cd\R^._d[R^CfTRW^]FbUe^e`[Zb^_fbTfd^fbaF_Q XF\fd^d^Z`aF_fd_FW^Y_dTTF\Fb\d^fb^KZF``d

]aF]]d^ [dbaF]ad^ ]Z``PFTFbaZe`F^ Sf]]eQ UfdbF^\f^Zbe^bZdTe^TFb\faeR DeXFUfe^@F_XFW^` ^^H:2HA2>AH> A8gg+*:&A':@6A'g4A*)A&A@6A' :77*118; 9.:68 ; 262$: CCCCC J55N=B^9N^5GE9N@J^^9N^*GEN^N++B*NDN Nb^\ebbd^\f^XacZ\g`a\FFBISg6\4\>\[g _f[LfF]ae^\e^ NE@G1EJ@NBEJD^C1G9N@^ 1GCB5G1 ^=1D =N^1GE9G^EB@B [LF^ f`^ Vfd_bd^ TH\WT\SWTQg e__fg cafg I,QWg f YfPP\ bF``e^]e`e^\F``F^YZOO`f[LF^Z\fFbUF^\f KZF]ad^@_fOZbe`FW^eTebaf^e`^0RGRW^]f^Y_d[F\F_M e``e^TFb\fae^[db^fb[ebad^\F`^]FVZFbaF^OFbF fXXdOf`FW^e``F^]FVZFbaf^[db\fUfdbf) 6944:;.819 `daad^Zbf[d)^<gTK\WWW[WW G`Fb[d^OFbf^fXXdOf`f^ ):77:;'52$:/ dUUcOd_fgXfagZdJd_fgeOd^eRdc`f Yd^cgd`g8eUfRdeg;faUf[g_cZe_d^=g4d`fL Xad[g adXca^e^cg e_g :E>*g ]dg 8eUfRde ;faUfg e_g NcP_dcg SQ[g Xea^\__eg TFKg YVO TWI[gZe^g@BQ[gZ_eYYfgKgfY^fYcgXfagZdaZe QI[QFgU?[gZc`gSH[FMgU?g]dg^faaeRRe\ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTM\WT\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd d``e`RdD c `F^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI c bF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f [Zf^e`^]F[db\d^[dXXe^\F``e^XF\F]fXe \f]Yd]fUfdbF^bd_XeafTe<W^`PF]Y_F]]e^\fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ


Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^ c bF`^[e]d^\f^Zbe^]d`e^f]aebUe^\f^Ye_aF[fQ YeUfdbFW^ d[[d__F_M^ [dXZbKZF^ eYYd_Q ae_F^ Zb^ _fe`Ud^ XfbfXdW^ F"^ e_aR^ ?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^^`PeVVfZQ \f[eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^ \d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^ c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f

\f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I^ c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW d_g4dV]dZfg]f__9>YfZVRdc`f :77*;+)91185!6:; 685$8$$2: CCCCC J55N=B^9N^5GE9N@J^ :\TTBFQg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B EB@JNB^ 3003 ; + "3; "-+( "3(, ._F]]d J==BCNJ%NBEG^EB@J1NDG^.1BCG9,1G^ G=GC,@N5G^9N^DJ+G%NJ^@G1+G .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF bF``e^._d[F\Z_e^G]F[ZafTe^bRHH2:4^ 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^H>^VFbbefd >AA6^F^fb^\eae^>>^`ZV`fd^>AHA^ef^]Fb]f^\F``Pe_aR ?6H^Of]^[RYR[RI 1faFbZad^bF[F]]e_fd^_fSf]]e_F^`e^TFb\fae^\Ff OFbf^ YfVbd_eaf^ [db^ `e^ _f\ZUfdbF^ \F`^ Y_FUUd Oe]F^\f^Zb^KZe_adW^eZad_fUUeUfdbF^\F`^0RGRI 5f]ad^`Pe_aR^?-6^[RYR[I J55N=J [LF^fb^\eae^TGgPf``edcgSWTQge__fgcafgTT[WW[ bF`^.e`eUUd^\f^0fZ]afUfe^\f^DeXFUfe^@F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^]f^aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F``e YfFbe^Y_dY_fFaM^\F`^]FVZFbaF^fXXdOf`F) -3003; (" 3/; A`g^faad^cadcg]f_gEcUV`f ]dg EVad`Peg e__eg _cZe_d^=g /;aV`Z3d.[ Nc`]cgaVY^dZcgd`g]VfgZcaXdg]f__egYVL XfaNdZdfg ZcUX_fYYdJeg ]dg !e\Q\FW\QM 2f^^eadg^af[geafgc^^e`^egfgZf`^deafg^af`L ^eZd`?Vf5[g Zc`g e``fYYcg NeOOadZe^c e]dOd^cgegNae`^cdcgc_feadcg2`c`geZZeL ^eY^e^c5D d_g Nc`]cg -g adXca^e^cg `f_g ZcaadYXc`L ]f`^fg Ee^eY^cg ;faaf`dg g Zc`g _fg YfL PVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXegMW[gXea^dZf__f, T[gV_dJf^cgZ_\S7[geafgQG\WW[gaf]]\]cU\< ST[WS[gaf]]\ePa\<gTT[KGD S[gV_dJf^cgZ_\S7[geafgQQ\GW[gaf]]\]cU\< TI[TM[gaf]]\ePa\<gTW[KKD K[gV_dJf^cgZ_\S7[geafgTM\SW[gaf]]\]cU\< F[HK[gaf]]\ePa\<gK[GTD TK[g ePaVUf^cg Z_\S7[g eafg H\TW[ af]]\]cU\<gI[TK[gaf]]\ePa\<gQ[GFD TI[gV_dJf^cgZ_\S7[geafgT\GW[gaf]]\]cU\< W[IG[gaf]]\ePa\<gW[MQD SW[g V_dJf^cg Z_\S7[g eafg FK\WW[ af]]\]cU\<gKG[GS[gaf]]\ePa\<gSH[WQD SF[g V_dJf^cg Z_\S7[g eafg QH\FW[ af]]\]cU\<gSW[IT[gaf]]\ePa\<gTT[KWD QKI[g V_dJf^cg Z_\S7[g eafg G\KW[ af]]\]cU\<gK[SW[gaf]]\ePa\<gS[SID QMW[g V_dJf^cg Z_\S7[g eafg H\TM[ af]]\]cU\<gQ[KI[gaf]]\ePa\<gT[ITD QMS[g V_dJf^cg Z_\S7[g eafg H\SW[ af]]\]cU\<gQ[MS[gaf]]\ePa\<gT[ISD QMQ[g V_dJf^cg Z_\S7[g eafg TS\WW[ af]]\]cU\<gH[FS[gaf]]\ePa\<gQ[GSD QMK[g V_dJf^cg Z_\S7[g eafg ST\HW[ af]]\]cU\<gTS[SG[gaf]]\ePa\<gH[HID QMM[g V_dJf^cg Z_\S7[g eafg K\KW[ af]]\]cU\<gS[MW[gaf]]\ePa\<gT[QHD QMH[g V_dJf^cg Z_\S7[g eafg T\MW[ af]]\]cU\<gW[FM[gaf]]\ePa\<gW[KHD

QMI[g V_dJf^cg Z_\S7[g eafg H\TW[ af]]\]cU\<gQ[KG[gaf]]\ePa\<gT[FID QHT[g V_dJf^cg Z_\S7[g eafg WW\HW[ af]]\]cU\<gW[QK[gaf]]\ePa\<gW[TID QHH[g V_dJf^cg Z_\S7[g eafg H\TW[ af]]\]cU\<gQ[KG[gaf]]\ePa\<gT[FID QHG[g V_dJf^cg Z_\S7[g eafg W\KW[ af]]\]cU\<gW[SQ[gaf]]\ePa\<gW[TSD QHI[g V_dJf^cg Z_\S7[g eafg HH\WW[ af]]\]cU\<gQG[KI[gaf]]\ePa\<gSW[KMD QGS[g V_dJf^cg Z_\S7[g eafg SG\KW[ af]]\]cU\<gTM[MG[gaf]]\ePa\<gF[KI\ #6944:;.819/;<gTHI\IHF[FI 8FZ_d^[Fbad]F]Q ]ebaebdTFXf`ebdTF[Fbad]F]]ebadaad^Tf_Vd`e daaebaebdTF< J55N=J^JD@1G= CLF^bF``F^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]fd Uf]fYdUdgOf`dg`f__fgYfPVf`^dg]e^fgf _VcP3d,g Gg NfOOaedcg SWTQg e__fg caf TT[WW[g0e_eRRcg]dg4dVY^dRdeg]dg8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ XafYYcgdg_cZe_dg]f__9@YYcZdeRdc`f\ -3003; (" 3/;;#6944:;.819/ <gTHI\IHF[FI 8FZ_d^[Fbad]F]]ebaebdTFXf`ebdTF[Fbad]F]Q ]ebadaad^Tf_Vd`e^daaebaebdTF< 8'42:59 <gTH\IIH[FI 8FZ_d^]F\f[fXf`ebdTFQ [FbadbdTebae]Ff^Tf_Vd`e^daaebaebdTF< +'&957:; 252&: <gF\KIF[KKg8FZ_d^daadXf`eQ KZeaa_d[FbadbdTebadaad^Tf_Vd`e^KZe_ebaeKZeaQ a_d< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUdR c DPfXXdOf`F^TfFbF^Yd]ad^fb^TFb\fae^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTeW ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_^ FTfUfdbFW Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f^[db\ZaQ ad_fI^[db^V`f^e[[F]]d_fW^\fYFb\FbUFW^YF_Q afbFbUFW^]F_Tfa&^eaafTF^F^Ye]]fTF^F]f]aFbaf F^\f_faaf^Y_dYd_Ufdbe`f^]Z``F^Ye_af^^[LF^\FQ Tdbd^_faFbF_]f^[dXZbf^e^bd_Xe^\f^`FVVFR c N`^OFbF^\f^[Zf^]dY_e^;^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\f^]afXe^\FYd]faeae^eV`f eaaf^\F``e^Y_d[F\Z_eW^e^Sf_Xe^\F``PF]YF_ad fbVR^5fb[FbUd^@d_[e]fdW^[LF^YZ ^F]]F_F [db]Z`aeae^\e``PdSSF_FbaFW^F\^e``e^KZe`F ]f^Se^F]Y_F]]d^_fbTfd^eb[LF^YF_^aZaad^[f [LF^ [db[F_bF^ `PF]f]aFbUe^ \f^ FTFbaZe`f dbF_f^F^YF]f^e^KZe`]fe]f^afad`d^V_eTebaf ]Zf^OFbf^F^[db]Z`aeOf`F^]Z`^]fad^fbaF_bFa !!!Re]aFRFZVFbfZ]Rfa^F^]Z^$N`^9dXebf# 8G\fUfdbF^1FVfdbe`F<^R c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^*eb[e^Ce_fXF^=RYRJRW^=eb^.ed`d N+NQ*eb[d^\f^EeYd`f^=RYRJRW^*eb[e^.dQ Yd`e_F^\f^C_dadbFW^*eb[e^+dbaF^\Ff^.eQ ][Lf^ \f^ =fFbe^ =RYRJRW^ *eb[e^ \f CeaebUe_dR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR^ c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db

f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c CZ]ad\F^VfZ\fUfe_fd^\F`^OFbF^;^f`^_eVR @_eTeV`fd^GZVFbfd^[db^]aZ\fd^fb^DeXFQ Ufe^@F_XF^Q^Tfe^C_eaf^8aF`RA6-:Q//>>H-<W [Zf^ aZaaf^ V`f^ fbaF_F]]eaf^ e``Pe[KZf]ad^ YdQ a_ebbd^_fTd`VF_]f^YF_^Tf]fae_F^f`^OFbFR^ c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR DeXFUfe^@F_XFW^` ^>7^bdTFXO_F^>AH>^ d_gXacNfYYdc`dY^eg]f_fPe^cg !:77:6; 862:; 2)85 2:59;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ ^9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G Zebad^e``e^TFb\fae^]FbUe^fb[ebad) b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegZc`L ^f`f`^fg]cUe`]eg]dgXea^fZdXeRdc`f d`gZea^eg_fPe_f[gf`^acg_fgcafgTS[WWg]f_ Pdca`cgTKgPf``edcgSWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF^`F ]d`F^VFbF_e`faM^\f^[Lf^Y_F]Fbae^`PdSSF_aeW [LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fTF_]e \e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F^\F`Q `PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdbf]ae \F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f`^bZQ XF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aRH76W^[dR^H W^`FaaR^SW^[d\f[F^[fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^0fZ\f[F^@ZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ c Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ c Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR c Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F


c c c

c c

c c c c

c

c

c

c

c

c c c

c

c b

c c

bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^+e_fd *f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe^bRHH2:4 1RGR#W^ YF_^ Zb^ fXYd_ad^ Ye_f^ e`^ HA^ YF_ [Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d^\f^[eZQ UfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d^\f^_fQ SfZad^\F``Pe[KZf]adR EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd +e_fd^*f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe HH2:4^ 1RGR#W^ Zbd^ KZe`F^ \fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^ Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR^ De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR^ DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^=F^F]f]aFbaf^e`^XdXFbad \F``e^TFb\faeW^FTFbaZe`f^f][_fUfdbf^F^]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``PeVQ VfZ\f[eae_fdR =F^`PfXXdOf`F^;^d[[ZYead^\e`^\FOfad_F d^ \e^ aF_Uf^ ]FbUe^ afad`dW^ `e^ `fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR Zebad^e``e^TFb\fae^[db^fb[ebad) 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg Kg NfOOaedcg SWTQg OVY^e Z3dVYegZc`^f`f`^fg]cUe`]eg]dgXeaL ^fZdXeRdc`fgd`gZea^eg_fPe_f\ De^\dXeb\e^\dT_M^[dbaFbF_F) e<Q^ ]F^ YF_]dbe^ Sf]f[e)^ Q^ [dVbdXFW bdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F^SfQ ][e`FW^\dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW _F[eYfad^ aF`FSdbf[d^ \F`^ _f[LfF\FbaFI^ fb [e]d^`d^]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FQ VfXF^ Yea_fXdbfe`FW^ [db^ fb\f[eUfdbF^ KZe`d_e^ [dbfZVead^ fb^ _FVfXF^ \f^ [dXZQ

c

c

c

c

c

c c c

c

c

c

c

bfdbF^`FVe`F^ ^\F``F^VFbF_e`faM^\F`^[dQ bfZVFR^ J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR O<Q^]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^_eYY_F]FbaebaFR J``e^\dXeb\e^\dT_ebbd^F]]F_F^e``FVeaf ]fe^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^8\e``e KZe`F^_f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF F\^ f^ YdaF_f^ [dbSF_faf^ e``PdSSF_FbaF^ fb Z\fFbUe<^]fe^[dYfe^Sdad]aeaf[e^\f^Zb^TeQ `f\d^\d[ZXFbad^\f^f\FbafaM^\f^\Faad^dSSFQ _FbaFR [<Q^ e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^+e_fd^*f`ebVfdbF^Y_d[FQ \Z_e^F]F[ZafTe^HH2:4^1RGR#R =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^ $bdaefd^ +e_fd^ *f`ebVfdbF^ Y_d[F\Z_e F]F[ZafTe^ HH2:4^ 1RGR#^ bdb[L'^ f`^ TFbaf YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbF ]FXY_F^ XF\febaF^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^+e_fd *f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe^HH2:4 1RGR#^ KZe`F^ Y_F]ZXfOf`F^ fXYd_ad^ YF_ ]YF]FR @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeQ UfdbF^ \f^ ae`f^ dSSF_aFW^ TF__M^ fb\Faae^ Zbe Ve_e^]F[db\d^`F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR ?:/^[RYR[RR =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^ CCCCC

J55N=B^9N^5GE9N@J :\KQBFKg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^ *; "+(- +;#, ,--+ ._F]]d^ J==BCNJ%NBEG^EB@J1NDG^.1BCG9,1G^ G=GC,@N5G^9N^DJ+G%NJ^@G1+G .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF ._d[F\Z_e^G]F[ZafTe^ER^/42:/^1RGR 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^>6^VFbbefd >AA7^ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[R^e^]FVZfad \f^f]aebUe^\f^TFb\fae^Sd_XZ`eae^\e`^[_F\fad_F Y_d[F\FbaF^$NbaF]e^0F]afdbF^C_F\faf^=RYRJR#I 1faFbZad^ dYYd_aZbd^ Y_d[F\F_F^ e``e^ _fSf]]eQ UfdbF^\f^bZdTF^TFb\faF^[db^`e^_f\ZUfdbF^\F` Y_FUUd^Oe]F^\f^ ^VfZ]ae^_f[LfF]ae^\F`^[_F\fQ ad_F^Y_d[F\FbaF^F^eZad_fUUeUfdbF^\F`^0RGRI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^fb^\eae^TGgPf``edcgSWTQge__fgcafgTW[WW[ bF`^.e`eUUd^\f^0fZ]afUfe^\f^DeXFUfe^@F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^ ]f^ aF__M^ `e^ TFb\fae^ ]FbUe^ fb[ebad^ \Ff ]FVZFbaf^fXXdOf`f)

-3003; (*; / 0df`eg XacXadf^=g ]f_g Nc`]c ePadZc_cgYd^cg`f_gEcUV`fg]dg+fac_f^c @`^dZcg2E&5ge__eg_cZe_d^=g/1ZeJdYYe.[ /Ec__eaf__f.g fg /%eY^acPdcaPdc.[g Zc` e``fYYdg ]Vfg NeOOadZe^dg aVae_dg 2]dg ZVd V`cg`c`geZZe^eY^e^c5gfgV`egJeYZeg]d aeZZc_^egeZ?Ve[gZc_^dJe^cgXfag_egUePL PdcagXea^fge]gV_dJf^c[g]f__egYVXfaNdZdf Ze^eY^e_fg]dg3egQW\FG\IFg2>^^eadg^af`^e[ @afg c^^e`^eYf^^fg fg Ef`^deafg `cJe`L ^c^^c5gXeadgegU?\gQWF\GIFDg adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c ;faaf`dg ]f_g EcUV`fg ]dg +fac_f^cg@`L ^dZc[gZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXeg`\TQ[gXea^dZf__f, GM[g V_dJf^cg Z_\S7[g !e\T\MI\GW[g af]]\ ]cU\g fVacg GW[TT[g af]]\g ePa\g fVac KT[SKD FS[gV_dJf^cgZ_\S7[geafgQS\TW[gaf]]\g]cU\ fVacgTK[WI[gaf]]\gePa\gfVacgF[SID FM[gYfU\gZ_\Q7[geafgSI\FW[gaf]]\g]cU\ fVacgH[IQ[gaf]]\gePa\gfVacgT[HID FH[g XeYZc_cg Z_\V\[g !e\T\HI\QW[g af]]\ ]cU\gfVacgTT[QG[gaf]]\gePa\gfVacgG[FGD FG[g YfU\g daa\g g Z_\Q7[g eafg Q\MW[g af]]\ ]cU\gfVacgW[HQ[gaf]]\gePa\gfVacgW[QHD TSS[g XeYZ\g ZfYX\g Z_\V[g !e\S\FT\WW[ af]]\g]cU\gfVacgTQ[WH[gaf]]\gePa\gfVac K[QMD TSK[g V_dJf^cg Z_\S7[g !e\T\TI\GW[g af]]\ ]cU\g fVacg MS[MM[g af]]\g ePa\g fVac QW[ITD TSM[gNeOOadZe^cgaVae_fgeafgT\KWD TSH[g V_dJf^cg Z_\S7[g !e\T\MI\SW[g af]]\ ]cU\g fVacg HI[FI[g af]]\g ePa\g fVac KT[TTD TSG[g V_dJf^cg Z_\S7[g !e\S\SG\WW[g af]]\ ]cU\g fVacg II[HM[g af]]\g ePa\g fVac MF[HSD TSF[g V_dJf^cg Z_\S7[g eafg HM\TW[g af]]\ ]cU\g fVacg SF[MF[g af]]\g ePa\g fVac TH[FTD TSI[g V_dJf^cg Z_\S7[g eafg QG\WW[g af]]\ ]cU\gfVacgTH[SK[gaf]]\gePa\gfVacgI[MMD TQW[g YfU\g daa\g Z_\Q7[g eafg QQ\TW[g af]]\ ]cU\gfVacgM[IF[gaf]]\gePa\gfVacgQ[KSD TQT[gXeYZ\geaO\gZ_\V[g!e\T\FS\FW[gaf]]\ ]cU\g fVacg SF[QS[g af]]\g ePa\g fVac TH[IID TQH[g V_dJf^cg Z_\S7[g !e\K\GF\MW[g af]]\ ]cU\g fVacg STW[WH[g af]]\g ePa\g fVac TSQ[MHD TQG[g V_dJf^cg Z_\S7[g !e\Q\SS\FW[g af]]\ ]cU\g fVacg TKT[GT[g af]]\g ePa\g fVac FQ[QHD TMI[g V_dJf^cg Z_\S7[g eafg MI\SW[g af]]\ ]cU\g fVacg SM[II[g af]]\g ePa\g fVac TM[SID THW[g V_dJf^cg Z_\S7[g eafg GT\FW[g af]]\ ]cU\g fVacg QT[MS[g af]]\g ePa\g fVac TF[MKD THT[ggXcaR\@@gV_dJf^cgZ_\S7[geafgH\KI[ af]]\g]cU\gfVacgS[FM[gaf]]\gePa\gfVac T[HFD XcaR\g @(g XeYZ\g eaO\g Z_\V[g eafg TQ\FT[ af]]\g]cU\gfVacgS[TK[gaf]]\gePa\gfVac T[SFD THS[g V_dJf^cg Z_\S7[g eafg TK\MW[g af]]\ ]cU\gfVacgH[QG[gaf]]\gePa\gfVacgQ[GKDg SWF[g?VfaZf^cgZ_\S7[g!e\T\WI\SW[gaf]]\ ]cU\gfVacgI[MI[gaf]]\gePa\gfVacgT[HID SWI[g?VfaZf^cgZ_\S7[geafgQT\WF[gaf]]\ ]cU\gfVacgS[GQ[gaf]]\gePa\gfVacgW[KFD STW[g XeYZc_cg Z_\V[g eafg GK\MW[g af]]\ ]cU\gfVacgM[WW[gaf]]\gePa\gfVacgQ[KHD SST[gXcaR\@@gV_dJf^cgZ_\S7[geafgTT\WW[ af]]\g]cU\gfVacgK[FQ[gaf]]\gePa\gfVac S[FKD XcaR\g@(gXeYZc_cgZ_\V[geafgG\MW[gaf]]\ ]cU\gfVacgW[MW[gaf]]\gePa\gfVacgW[QMD SSS[gV_dJf^cgZ_\S7[geafgT\FW[gaf]]\g]cU\ fVacgW[GI[gaf]]\gePa\gfVacgW[KHD SSK[g V_dJf^cg Z_\S7[g eafg QW\HW[g af]]\ ]cU\gfVacgTQ[KQ[gaf]]\gePa\gfVacgG[IWD SSM[gXcaR\@@gV_dJf^cgZ_\S7[g3e\gS\WK\WW[ af]]\g]cU\gfVacgFI[MM[gaf]]\gePa\gfVac MS[HFD XcaR\g @(g XeYZc_cg Z_\V[g eafg GF\SW[ af]]\g]cU\gfVacgM[SM[gaf]]\gePa\gfVac Q[HQD SKT[gXcaR\@@gV_dJf^cgZ_\S7[geafgMM\WW[ af]]\g]cU\gfVacgSK[TK[gaf]]\gePa\gfVac TK[SWD XcaR\g @(g YfU\daa\g Z_\Q7[g eafg TG\QW[ af]]\g]cU\gfVacgQ[TQ[gaf]]\gePa\gfVac T[GI\ 1V__egXea^dZf__egTQHgd`YdY^fgV`gNeOOadL Ze^cgaVae_fgeg]VfgXde`dgNVcadg^faaeg]fL Y^d`e^cg eg ]fXcYd^cg e^^afRRdg ePadZc_d[ `c`geZZe^eY^e^cDg_cgY^fYYcg-g]dNNcaUf adYXf^^cge__egafPc_ead^=gf]d_dRdegf]gVaL Oe`dY^dZe\ 1V__egXea^dZf__egTQWgd`YdY^fgV`egJeYZe ]dgaeZZc_^egeZ?Vfg`c`geZZe^eY^e^e\ )>1;A:@&A':>g*6(@:A1;AE@, A_g ^faaf`dg adZe]c`cg d`g Xea^fg d`g Rc`e />T.g &c`eg @PadZc_e[g g d`g Xea^fg d`

Rc`e/>K.g &c`eg @PadZc_eg ]dg 1e_JeL PVea]deg@UOdf`^e_f[gd`gXea^fgd`g&c`e ]dgA`^fafYYfgEcUV`fLg/+T.gAUXde`^c 1Xca^dJcg eaffg f"g f"^aeVaOe`f[g d` Xea^fgd`gRc`eg/>S.g&c`eg]dg0ea^dZc_eaf A`^fafYYfg@PadZc_c[g d`g Xea^fg d`g Rc`e /E;.g&c`fg]dg>YXe`Ydc`fgfgEeae^^faf ;VadY^dZcgfgd`gXea^fgd`gRc`eg/)K.g&c`e @a^dPde`e_fgfgEcUUfaZde_f\ # , 3; + ,/;fVacggT\SHW\FIQ[QK 8FZ_d ZbXf`fdbF\ZF[Fbad]F]]ebaeQXf`edaad[FbadQ bdTebaea_F^Tf_Vd`e^a_FbaeKZeaa_d< -3003; 5*; /; 0df`eg XacXadf^=g ]f_g Nc`]c ePadZc_cgYd^cg`f_gEcUV`fg]dg+fac_f^c @`^dZcgfg0de`cXc_dge__eg_cZe_d^=g/1e` +d_dXXc.[g Zc`g e``fYYdg ^afg NeOOadZe^d aVae_dg2`c`geZZe^eY^e^d5[gZc_^dJe^cgXfa _egUePPdcagXea^fge]gV_dJf^c[g]f__egYVL XfaNdZdfgZe^eY^e_fg]dg3egTQ\HQ\IMg2>^L ^eadg ^af]dZd[g @afg YfYYe`^e^afg f Ef`^deafg `cJe`^eZd`?Vf5g Xeadg eg U?\ TQH\QIMD adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c ;faaf`dgZcUfgYfPVf, @5g]f_gEcUV`fg]dg+fac_f^cg@`^dZc[gNcL P_dcg]dgUeXXeg`\TQ[gXea^dZf__f, SFWg2SGMBXea^fgfgXadUegTGFBXea^f5[gV_dL Jf^cgZ_\S7[g3e\T\WI\KQ[gaf]]\g]cU\gfVac KF[WK[gaf]]\gePa\gfVacgSF[SHD SGSg2TFTBXea^f5[gXcaR\@@gV_dJf^cgZ_\S7[ eafg FQ\WW[g af]]\g ]cU\g fVacg QH[KK[ af]]\gePa\gfVacgST[KQD XcaR\g@(gYfU\daa\Z_\S7[geafgQI\QS[gaf]]\ ]cU\gfVacgTT[TG[gaf]]\gePa\gfVacgG[TTD SQH[gXcaR\@@gV_dJf^cgZ_\S7[geafgGM\QQ[ af]]\g]cU\gfVacgQQ[WG[gaf]]\gePa\gfVac TI[KMD XcaR\g@(gXeYZc_cgeaO\gZ_\V[geafgS\TG[ af]]\g]cU\gfVacgW[QK[gaf]]\gePa\gfVac W[SWD SQG[gXcaR\@@gV_dJf^cgZ_\S7[geafgTM\WW[ af]]\g]cU\gfVacgH[MF[gaf]]\gePa\gfVac Q[FGD XcaR\g@(gYfU\daa\gZ_\S7[geafgG\GW[gaf]]\ ]cU\gfVacgS[TI[gaf]]\gePa\gfVacgT[QID (5g]f_gEcUV`fg]dg0de`cXc_dg[gNcP_dcg]d UeXXeg`\Q[gXea^dZf__f, T[g XcaR\@@g V_dJf^cg Z_\S7[g 3e\Q\FI\TS[ af]]\g ]cU\g fVacg TIW[IS[g af]]\g ePa\ fVacgTKW[HGD XcaR\g @(g XeYZ\g eaO\g Z_\S7[g eafg Q\HF[ af]]\g]cU\gfVacgW[GH[gaf]]\gePa\gfVac W[SGD KWGg 2SWWBXea^fg fg XadUeg TBXea^f5[g V_dL Jf^cgZ_\S7[geafgKK\SW[gaf]]\g]cU\gfVac ST[HI[gaf]]\gePa\gfVacgTM[IFD KWI[g2SWWBXea^fgfgXadUegTBXea^f5[gV_dL Jf^cgZ_\S7[geafgK\WW[gaf]]\g]cU\gfVac T[IH[gaf]]\gePa\gfVacgT[KMD KTWg 2SWTBXea^fg fg XadUeg TBXea^f5[g V_dL Jf^cgZ_\S7[g3egT\TK\QM[gaf]]\g]cU\gfVac MH\TW[gaf]]\gePa\gfVacgKT[QKD TF[gV_dJf^cgZ_\S7[geafgSG\WW[gaf]]\g]cU\ fVacgTQ[SM[gaf]]\gePa\gfVacgI[GHD SWS[g2TFBXea^f5[gXeYZc_cgeaO\gZ_\S7[geaf HS\HW[g af]]\g ]cU\g fVacg TS[IQ[g af]]\ ePa\gfVacgK[MQD HW[g V_dJf^cg Z_\Q7[g 3e\S\MG\WW[g af]]\ ]cU\g fVacg GQ[WW[g af]]\g ePa\g fVac GI[HKD GK[g XcaR\@@g V_dJf^cg Z_\T7[g eafg S\TQ[ af]]\g]cU\gfVacgT[QF[gaf]]\gePa\gfVac W[FQD XcaR\g@(gXeYZc_cgZ_\S7[geafgT\WG[gaf]]\ ]cU\gfVacgW[WG[gaf]]\gePa\gfVacgW[WQD XcaR\g@Eg XeYZ\g eaO\g Z_\S7[g eafg TG\WW[ af]]\g]cU\gfVacgQ[MT[gaf]]\gePa\gfVac T[SQD QKIg 2GMBXea^f5[g g ?VfaZf^cg Z_\V\[g eaf HI\QW[g af]]\g ]cU\g fVacg TS[MQ[g af]]\ ePa\gfVacgS[MTD QMWg 2GMBXea^f5[g ?VfaZf^cg Z_\V\[g eaf WW\TW[gaf]]\g]cU\gfVacgW[WS[gaf]]\gePa\ fVacgW[WTD KWKg2GHBXea^f5[gXcaR\@@[gXeYZc_cgZ_\S7[ eafgQ\QT[gaf]]\g]cU\gfVacgW[SS[gaf]]\ ePa\gfVacgW[TWD XcaR\g@(gXeYZc_cgeaO\gZ_\S7[geafgTW\QI[ af]]\g]cU\gfVacgS[TM[gaf]]\gePa\gfVac W[GMD KWHg2GHBXea^f5[gXcaR\@@[gV_dJf^cgZ_\S7[ eafgT\MW[gaf]]\g]cU\gfVacgW[GK[gaf]]\ ePa\gfVacgW[MKD XcaR\g@(gXeYZc_cgeaO\gZ_\S7[geafgW\MM[ af]]\g]cU\gfVacgW[TT[gaf]]\gePa\gfVac W[WKD FT[gXeYZc_cgeaO\gZ_\S7[geafgSK\GW[gaf]]\ ]cU\gfVacgM[TW[gaf]]\gePa\gfVacgT[GI\g 1V__eg Xea^dZf__eg QKIg ]f_g NcP_dcg Qg ]f_ EcUV`fg]dg0de`cXc_dgd`YdY^c`cg]Vf NeOOadZe^dgaVae_d[gf`^aeUOdg`c`geZZeL ^eY^e^d[g]dgZVdgV`cg]fY^d`e^cgeg]fXcL Yd^cge^^afRRdgePadZc_dgfg_9e_^acgegY^e__eD Uf`^afgYV__egXea^dZf__egSGSg]f_gNcP_dc TQg]f_gEcUV`fg]dg+fac_f^cg@`^dZcgd`L YdY^fgV`ge_^acgNeOOadZe^cge]dOd^cgeg]fL XcYd^cg e^^afRRdg afe_dRRe^c


eOVYdJeUf`^fgfg`c`geZZe^eY^e^c\ )>1;A:@&A':>g*6(@:A1;AE@, A_g^faaf`dgd`gEcUV`fg]dg+fac_f^cg@`L ^dZcg adZe]c`cg d`g Xea^fg d`g Rc`eg />T. &c`eg@PadZc_e[gd`gXea^fg/)K.g&c`eg@aL ^dPde`e_fg fg EcUUfaZde_fg fg g d`g Xea^f /E;.g&c`fg]dg>YXe`Ydc`fgfgEeae^^faf ;VadY^dZc\ Ag^faaf`dgd`gEcUV`fg]dg0de`cXc_dgadZeL ]c`cgd`gXea^fgd`gRc`egg/>g geaffgePadL Zc_f.[g d`g Xea^fg g d`g Rc`eg /$fa]f OcYZ3dJc.[gd`gXea^fg2Xea^dZf__fgHWg Xfa ZdaZeg U?\TWWW [g KWHg Xfag ZdaZe U?\FW gfgKTWg XfagZdaZegU?\QMW gadL YV_^e`cg cZZVXe^fg ]eg Y^ae]eg ZcUVL `e_f[gd`gXea^fgd`gRc`eg/eafegegadYZ3dc 6Q.g fg d`g Xea^fg d`g Rc`eg /Nae`eg ?VdfL YZf`^f.\ # , 3; + ,/; fVacg S\SKI\KKM[GSg 8FZ_d \ZFXf`fdbf\ZF[FbadKZe_ebaebdTFQXf`eKZeaQ a_d[FbadKZe_ebae[fbKZF^Tf_Vd`e^]Faaebae\ZF< -3003; 5*; /; A`g ^faad^cadcg ]f_g EcUV`fg ]d 0de`cXc_dg2E&5ge__eg_cZe_d^=g/6dRRV^c. Nc`]cg aVY^dZcg ]f__eg YVXfaNdZdfg Ze^eL Y^e_fgZcUX_fYYdJeg]dg!egM\QH\WWg2f^L ^eadg Zd`?Vf[g eafg ^af`^eYfdg fg Zf`^deaf Rfac5Dg adXca^e^cg `f_g ZcaadYXc`]f`^f Ee^eY^cg;faaf`dge_gNcP_dcg]dgUeXXegSS[ Xea^dZf__f QTG[g YfU\daa\g Z_\Q7[g eafg WG\IW[g af]]\ ]cU\gfVacgT[KQ[gaf]]\gePa\gW[FSD QTI[g YfU\daa\g Z_\Q7[g eafg HH\KW[g af]]\ ]cU\gfVacgTS[WW[gaf]]\gePa\gH[FHDg KQM[g YfU\daa\g Z_\S7[g eafg MI\QW[g af]]\ ]cU\gfVacgTH[FK[gaf]]\gePa\gTW[GSD KQH[g YfU\daa\g Z_\S7[g eafg TS\MW[g af]]\ ]cU\gfVacgQ[MM[gaf]]\gePa\gS[SHD KQG[gYfU\gZ_\T7[geafgST\TM[gaf]]\g]cU\ fVacgG[TW[gaf]]\gePa\gS[GQD KQF[g XcaR\@@[g d`Zc_\g Xac]\g Z_\V\[g eaf WW\GM[gaf]]\g]cU\gfVacgW[WT[gaf]]\gePa\ W[WTDg XcaR\@([gYfU\gZ_\T7[geafgWH\WW[gaf]]\ ]cU\gfVacgS[WT[gaf]]\gePa\gW[GGD SMI[gOcYZcgZf]\gZ_\S7[geafgTQ\SW[gaf]]\ ]cU\gfVacgW[HT[gaf]]\gePa\gW[KTD QSQ[gOcYZcgZf]\gZ_\S7[geafgTK\SW[gaf]]\ ]cU\gfVacgW[HH[gaf]]\gePa\gW[KKDg KMK[gOcYZcgZf]\gZ_\S7[geafgM\SW[gaf]]\ ]cU\gfVacgW[SK[gaf]]\gePa\gW[THD KMM[gOcYZcgZf]\gZ_\S7[geafgT\WW[gaf]]\ ]cU\gfVacgW[WM[gaf]]\gePa\gW[WQDg QSH[gOcYZcgZf]\gZ_\S7[geafgK\GW[gaf]]\ ]cU\gfVacgW[SS[gaf]]\gePa\gW[TMD QSG[gOcYZcgZf]\gZ_\S7[geafgG\IW[gaf]]\ ]cU\gfVacgW[QG[gaf]]\gePa\gW[SKD KQI[g YfU\daa\g Z_\S7[g !e\T\TM\QW[g af]]\ ]cU\gfVacgQS[GM[gaf]]\gePa\gSW[FKD KKW[g YfU\daa\g Z_\S7[g eafg H\QW[g af]]\ ]cU\gfVacgT[GI[gaf]]\gePa\gT[TKD KKT[g YfU\daa\g Z_\S7[g eafg HF\HW[g af]]\ ]cU\gfVacgTI[KI[gaf]]\gePa\gTS[KWD KKS[g XcaR\@@[g XeYZ\eaO\g Z_\T7[g eaf TG\QW[gaf]]\g]cU\gfVacgK[WS[gaf]]\gePa\ T[GWDg XcaR\@([g YfU\g daa\Z_\S7[g eafg WM\FW[ af]]\g]cU\gfVacgT[HM[gaf]]\gePa\gT[WMDg SHS[g XcaR\@@[g d`Zc_\g Xac]\g Z_\V\[g eaf WW\HW[gaf]]\g]cU\gfVacgW[WT[gaf]]\gePa\ W[WTDg XcaR\@([gYfU\gZ_\T7[geafgWT\WW[gaf]]\ ]cU\gfVacgW[QK[gaf]]\gePa\gW[TQDg KKM[gd`Zc_^\gXac]\gZ_\V\geafgW\MW[gaf]]\ ]cU\gfVacgW[WT[gaf]]\gePa\gW[WTD KKH[gd`Zc_^\gXac]\gZ_\V\geafgW\MW[gaf]]\ ]cU\gfVacgW[WT[gaf]]\gePa\gW[WTD SHH[g XcaR\@@[g d`Zc_\g Xac]\g Z_\V\[g eaf WW\KW[gaf]]\g]cU\gfVacgW[WT[gaf]]\gePa\ W[WTDg XcaR\@([gYfU\gZ_\T7[geafgWQ\MW[gaf]]\ ]cU\gfVacgT[TG[gaf]]\gePa\gW[KMDgg KKQ[g YfU\daa\g Z_\S7[g eafg W\HW[g af]]\ ]cU\gfVacgW[TG[gaf]]\gePa\gW[TTD KKK[g XcaR\@@[g XeYZ\g eaO\g Z_\T7[g eaf QS\GQ[gaf]]\g]cU\gfVacgG[HT[gaf]]\gePa\ Q[STDg XcaR\@([g YfU\g daa\Z_\S7[g eafg TG\SG[ af]]\g]cU\gfVacgK[IT[gaf]]\gePa\gQ[TSDgg KMW[g YfU\daa\g Z_\S7[g eafg TG\FW[g af]]\ ]cU\gfVacgM[WH[gaf]]\gePa\gQ[SSDgg KMT[g YfU\g daa\Z_\S7[g eafg WQ\SW[g af]]\ ]cU\gfVacgW[IT[gaf]]\gePa\gW[MFDgg KMS[g YfU\g daa\Z_\S7[g eafg ST\FW[g af]]\ ]cU\gfVacgH[TI[gaf]]\gePa\gQ[IKDgg KMQ[g YfU\g daa\Z_\S7[g eafg WS\HW[g af]]\ ]cU\gfVacgW[GK[gaf]]\gePa\gW[KG\g )>1;A:@&A':>g*6(@:A1;AE@, A_g Nc`]cg aVY^dZcg ]fYZad^^cg 3eg _eg YfL PVf`^fg]fY^d`eRdc`f, _fgXea^dZf__fgQTI[gQSG[gKQM[gKQH[gKQG[ KQF[gKQI[gKKW[gKKT[gKKS[gKKQgfgKKKgadL YV_^e`cgadZe]faf[gYfZc`]cgd_g0@Ag]f__e 6fPdc`fg Ee_eOade[g d`g /@6>@g )Ag @;L ;>:&A':>.D _fgXea^dZf__fgSMI[gSHS[gSHH[gQTG[gQSQ[ QSH[gKKM[gKKH[gKMW[gKMT[gKMS[gKMQ[gKMK fg KMMg g adYV_^e`cg cZZVXe^fg ]e__e

1\1\SFW[gaf_e^dJfgZcUX_e`eadgfgNeYZf ]dgadYXf^^cgY^ae]e_d\ # , 3; + ,/;fVacgTGT\TFS[TTg8FZ_d^[FbQ ad]FaaebaZbdXf`e[Fbaddaaebae\ZF^Tf_Vd`e^ZbQ \f[f< J55N=J^JD@1G= CLF^bF``F^^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]fd Uf]fYdUdgOf`dg`f__fgYfPVf`^dg]e^fgf _VcP3d,gGgNfOOaedcgSWTQge__fgcafgTW[WW[ 0e_eRRcg ]dg 4dVY^dRdeg ]dg 8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ XafYYcgdg_cZe_dg]f__9@YYcZdeRdc`f\ -3003; (* ; # , 3; + ,/ fVac T\SHW\FIQ[QK 8FZ_d^ZbXf`fdbF\ZF[Fbad]F]Q ]ebaeQXf`edaad[FbadbdTebaea_F^Tf_Vd`e^a_FbaeQ KZeaa_d< + "3(,/ fVacgTSH\WFI[QQ 8FZ_d^[FbadQ TFbaf]FfXf`eUF_ddaaebaebdTF^Tf_Vd`e^a_Fbaea_F< + ,(03; "(" 3/ fVacgHQ\WKK[HH 8FZ_d ]F]]ebaea_FXf`eUF_dQKZe_ebaeKZeaa_d^Tf_Vd`e ]F]]ebae]Ff< -3003; (* ; # , 3; + ,/ fVac S\SKI\KKM[GS 8FZ_d^\ZFXf`fdbf\ZF[FbadKZeQ _ebaebdTFQXf`eKZeaa_d[FbadKZe_ebae[fbKZF Tf_Vd`e^]Faaebae\ZF< + "3(,/;fVacgSSK\IKK[MG 8FZ_d^\ZF[FbQ adTFbafKZeaa_dXf`ebdTF[FbadQKZe_ebaeKZeaa_d Tf_Vd`e^[fbKZebae]FaaF< + ,(03; "(" 3/ fVacgTTS\KGS[SI 8FZ_d [Fbad\d\f[fXf`eQKZeaa_d[Fbad]Faaebae\ZF^Tf_Q Vd`e^TFbafbdTF< -3003; (* ; # , 3; + ,/; fVac TGT\TFS[TT 8FZ_d^[Fbad]FaaebaZbdXf`e[FbadQ daaebae\ZF^Tf_Vd`e^Zb\f[f< + "3(,/ fVacgTG\TTF[ST 8FZ_d^\f[fe]]FaQ aFXf`e[Fbad\f[fdaad^Tf_Vd`e^TFbaZbd< + ,(03; "(" 3/ fVacgF\MMI[TW 8FZ_d^daQ adXf`e[fbKZF[Fbad[fbKZebaebdTF^ Tf_Vd`e \fF[f< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`e][fd \F`^Y_FUUdR c N^Sdb\f^_Z]af[f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^ ]aead^ \f^ Seaad^ F^ \f^ \f_faad^ fb^ [Zf dVbZbd^]f^a_dTeW^]FbUe^e`[Zbe^Ve_ebUfe YF_^ FTfUfdbFW^ Xd`F]afF^ F^ Y_FaF]F^ \f FTFbaZe`f^[db\Zaad_fI^[db^V`f^e[[F]]d_fW \fYFb\FbUFW^YF_afbFbUFW^]F_Tfa&^eaafTF^F Ye]]fTF^F]f]aFbaf^F^\f_faaf^Y_dYd_Ufdbe`f ]Z``F^Ye_af^[LF^\FTdbd^_faFbF_]f^[dXZbf e^bd_Xe^\f^`FVVFR c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``F^_F`eUfdbf^\f^]afXeW^\FYd]faeaF^eV`f eaaf^ \F``e^ Y_d[F\Z_eW^ Zbe^ e^ Sf_Xe^ \F`Q `PF]YF_ad^fbVR^5fb[FbUd^@d_[e]fd^8_F`eafQ TeXFbaF^ ef^ `daaf^ bRH^ F^ bR><^ F^ `Pe`a_e^ e Sf_Xe^\F``PF]YF_ad^fbVR*e]f`fd^+eUUFf^8_FQ `eafTeXFbaF^ e`^ `daad^ bR4<^ [LF^ Yd]]dbd F]]F_F^[db]Z`aeaF^\e``PdSSF_FbaF^Y_F]]d f^`d[e`f^\F``PJ]]d[feUfdbF^Edae_f`F^F\^e``F KZe`f^ ]f^ Se^ F]Y_F]]d^ _fbTfd^ eb[LF^ YF_ aZaad^ [f ^ [LF^ [db[F_bF^ `PF]f]aFbUe^ \f FTFbaZe`f^dbF_f^F^YF]f^e^KZe`]fe]f^afad`d V_eTebaf^]Zf^OFbfW^`Pd_\fbebUe^;^[db]Z`Q aeOf`F^]Z`^]fad^fbaF_bFa^!!!Re]aFRFZVFQ bfZ]Rfa^ F^ ]Z^ $N`^ 9dXebf#^ 8G\fUfdbF 1FVfdbe`F<R c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^ \f^ CeaebUe_dR^ N^ XZaZf^ ]e_ebbd Ve_ebafaf^ \e^ fYdaF[e^ \e^ f][_fTF_F^ ]Z``d ]aF]]d^fXXdOf`F^Yd]ad^fb^TFb\faeR^ c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c CZ]ad\F^VfZ\fUfe_fd^\Ff^OFbf^]daadYd]af e^ TFb\fae^ ;^ `e^ \daaR]]e^ CLfe_e^ .ZaF_fW [db^ ]aZ\fd^ fb^ DeXFUfe^ @F_XF^ e``e^ Tfe +e\dbbe^ \F``e^ =Yfbe^ bR/ 8aF`RA6-:2>:A4-<W^[Zf^aZaaf^V`f^fbaF_F]]eaf Yda_ebbd^_fTd`VF_]f^YF_^Tf]fae_F^f^OFbfR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^

c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR DeXFUfe^@F_XF^` ^>-^bdTFXO_F^>AH> d_gXacNfYYdc`dY^eg]f_fPe^c !:77* 285)'$8;#9669))8;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ^ 9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G Zebad^e``e^TFb\fae^]FbUe^fb[ebad) 8fg cNNfa^fg ]dg eZ?VdY^cg ]cJae``cg fYYfaf XafYf`^e^fgd`gOVY^egZ3dVYegZc`^f`f`^fg]cL Ue`]eg]dgXea^fZdXeRdc`fgd`gZea^eg]egOc__c[ f`^acg_fgcafgTS[WWg]f_gPdca`cgTKgPf``edc SWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF^`F ]d`F^VFbF_e`faM^\f^[Lf^Y_F]Fbae^`PdSSF_aeW [LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fTF_]e \e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F^\F`Q `PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdbf]ae \F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f`^bZQ XF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aRH76W^[dR^H W^`FaaR^SW^[d\f[F^[fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^0fZ\f[F^@ZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d

c c

c c

c c c

c c

c c c c

c

c

c

c

c c

c c

c

c b

\F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bR/42:/^1RGR#W^YF_^Zb^fXYd_ad^Ye_f^e`^HA YF_^[Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d^\f [eZUfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d^\f _fSfZad^\F``Pe[KZf]adR EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe /42:/^ 1RGR#W^ Zbd^ KZe`F^ \fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^ Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR^ De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR^ DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^=F^F]f]aFbaf^e`^XdXFbad \F``e^TFb\faeW^FTFbaZe`f^f][_fUfdbf^F^]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``PeVQ VfZ\f[eae_fdR BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR =F^`PfXXdOf`F^;^d[[ZYead^\e`^\FOfad_F d^ \e^ aF_Uf^ ]FbUe^ afad`dW^ `e^ `fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR Zebad^e``e^TFb\fae^[db^fb[ebad) 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf


c c

c

c

c

c

c

c c c

c

c

c

c

XafYYcg _eg /@YYcZdeRdc`fg :c^ead_f 0acZf]Vafg >YfZV^dJfg ]dg 8eUfRde ;faUf.gXafYYcgd_g;adOV`e_fg]dg8eUfL Rdeg ;faUfg f`^acg _fg cafg TS[WWg ]f_ Pdca`cgKgNfOOaedcgSWTQgOVY^egZ3dVYe Zc`^f`f`^fg ]cUe`]eg ]dg Xea^fZdXeL Rdc`fgd`gZea^eg_fPe_f\ De^\dXeb\e^\dT_M^[dbaFbF_F) e<Q^ ]F^ YF_]dbe^ Sf]f[e)^ Q^ [dVbdXFW bdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F^SfQ ][e`FW^\dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW _F[eYfad^ aF`FSdbf[d^ \F`^ _f[LfF\FbaFI^ fb [e]d^`d^]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FQ VfXF^ Yea_fXdbfe`FW^ [db^ fb\f[eUfdbF^ KZe`d_e^ [dbfZVead^ fb^ _FVfXF^ \f^ [dXZQ bfdbF^`FVe`F^ ^\F``F^VFbF_e`faM^\F`^[dQ bfZVFR^ J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR O<Q^]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^_eYY_F]FbaebaFR J``e^\dXeb\e^\dT_ebbd^F]]F_F^e``FVeaf ]fe^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^8\e``e KZe`F^_f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF F\^ f^ YdaF_f^ [dbSF_faf^ e``PdSSF_FbaF^ fb Z\fFbUe<^]fe^[dYfe^Sdad]aeaf[e^\f^Zb^TeQ `f\d^\d[ZXFbad^\Pf\FbafaM^\f^\Faad^dSSFQ _FbaFR [<Q^ e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[FQ \Z_e^F]F[ZafTe^/42:/^1RGR#R =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[F\Z_e F]F[ZafTe^ /42:/^ 1RGR#^ bdb[L'^ f`^ TFbaf YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbF ]FXY_F^ XF\febaF^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe^/42:/ 1RGR#^ KZe`F^ Y_F]ZXfOf`F^ fXYd_ad^ YF_ ]YF]FR @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeQ UfdbF^ \f^ ae`f^ dSSF_aFW^ TF__M^ fb\Faae^ Zbe Ve_e^]F[db\d^`F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR ?:/^[RYR[RR =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^\d[ZXFbaead^F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^

,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJe dUUcOd_deafg`7\SFBSWWS[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\f^Yf&^`daaf^bF``d^]aead^\f^Seaad^F^\f^\f_faad fb^[Zf^]f^a_dTebd^YF_^f`^A-RA>R>AH4I ):77:;'5:; /?Vc^egXeadgegTBQg]dgV`gUePeRL Rd`cg]fY^d`e^cgeg]fXcYd^cgYd^cgd`g8eL UfRdeg ;faUf[g _cZe_d^=g %eaVZe[ adXca^e^cg`f_g:E>*g]f_g]f^^cgZcUV`f[ YfRdc`fg 1e`^9>VNfUde[g e_g NcP_dcg K[ X\__fg KSMg YVOg TW[g Ze^\g EBS[g Z_eYYfg S[ ]f__egYVXfaNdZdfg]dgU?\gTW.Dg 6944:;.819 fVacgGMW[WWD ):77:;!'9; /?Vc^egXeadgegTBQg]dgV`gUePeRL Rd`cg]fY^d`e^cgeg]fXcYd^cgYd^cgd`g8eL UfRdeg ;faUf[g _cZe_d^=g %eaVZe[ adXca^e^cg`f_g:E>*g]f_g]f^^cgZcUV`f[ YfRdc`fg 1e`^9>VNfUde[g e_g NcP_dcg K[ X\__fg KSMg YVOg TT[g Ze^\g EBS[g Z_eYYfg S[ ]f__egYVXfaNdZdfg]dgU?\gQM.Dg 6944:;.819;fVacgS\MWW[WWD =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgGMW[WW YF_^f`^`daad^bR^H^F^\f^fVac S\MWW[WW YF_^f`^`daad^bR^>I^^ c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e` Q#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f [Zf^e`^]F[db\d^[dXXe^\F``e^XF\F]fXe \f]Yd]fUfdbF^bd_XeafTe<W^`PF]Y_F]]e^\fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead

e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^ c `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWM\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg WH\WS\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF

[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:; CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\KWBSWWTW^ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^bZXF_d^Zbd^bF``d^]aead^\f^Seaad F^\f^\f_faad^fb^[Zf^]f^a_dTe^YF_^f`^A-RA>R>AH4I ):77:;'5:; ;/^faaf`cgYd^cg`f_gZcUV`fg]dg8eL UfRdeg;faUf[g_cZe_d^=g0de`f[gadXca^e^c `f_g:E;ge_gNcP_dcgMW[gX\__egMTT[g]dgU?\ IFW[gYVgZVdgd`YdY^fgV`gNeOOadZe^cgX_VL adNeUd_deafgZcUXcY^cg]eg^afgeXXea^eL Uf`^d[g]dgZVdg]Vfge_gXde`cg^faaegf]gV`c e_gXadUcgXde`c\gA_gNeOOadZe^cg-g]c^e^c ]dgV`egXfa^d`f`Rege]dOd^egegXeaZ3fPL PdcgfgYXeRdcgJfa]f.D 6944:;.819;! 8178 fVacgSS\FGI[GQ =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgSS\FGI[GQgYF_^f`^`daad^bR^HI^^ c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F`


c

c

c

c

c

c c

c

c

c

c

c

c

c

bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``3Z\fFbUe^ ]aeOf`fae^ YF_^ `Pfb[ebad^ e``e Y_F]FbUe^\FV`f^f]aebafW^`e^[Zf^[dXYe_fQ UfdbF^;^bF[F]]e_fe^ef^Sfbf^\F``PeVVfZ\f[eQ UfdbFW^ [LF^ ]e_M^ \f]Yd]ae^ ]F[db\d^ `F Y_F][_fUfdbf^\F``Pe_aR^?:H^[RYR[RI^ `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^ bF`^[e]d^\f^Zbe^]d`e^f]aebUe^\f^Ye_aF[fQ YeUfdbFW^ d[[d__F_M^ [dXZbKZF^ eYYd_Q ae_F^ Zb^ _fe`Ud^ XfbfXdW^ F"^ e_aR^ ?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td

) [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWM\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -gNdYYe^e[gXfagd_gPdca`cgWH\WS\SWTQgcaf WI\QWgfgYfPP\[g_egJf`]d^egedgXVOO_dZd d`Ze`^dg ]f_g ZcUXf`]dcg dUUcOd_deaf YcXaegd`]dZe^c[gZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:;

,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\IKBSWWG[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^A-RA>R>AH4I ):77:;'52$:; /?Vc^egXeadge]g g]f__egXdf`e XacXadf^=g]dgV`gdUUcOd_fgYJd_VXXe^c YVg]Vfg_dJf__dgYd^cg`f_gZf`^acgVaOe`c ]f_gZcUV`fg]dg eZVaYc[gadXca^e^cg`f_ :E>*ge_gNcP_dcgQ[gX\__egSWG[gYVO\T[gZe^\ EBS[gZ_eYYfg*gfgYVO\gSgZe^\g@BKgZ_eYYf S.Dg #6944:;.819;<gH\WWW[WWD =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgH\WWW[WW YF_^f`^`daad^Zbf[dI^ c `F :%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q

XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWM\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgOeYfg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg WH\WS\SWTQ[ cafgWI\QWgfgYfPP\g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW


]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^>>RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadcg 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``P^G]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7IFBIQg6\4\>\g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Y_fXd^bF``d^]aead^\f^Seaad^F^\f \f_faad^ fb^ [Zf^ ]f^ a_dTe^ YF_^ `PZ\fFbUe^ \F` A-RA>R>AH4 # " 3;-3003/;0caRdc`fg]f_gNeOOadZe^cgd` :cZfaeg;fa`fYf[ge__egJdegEe`e_f[gZcL Y^d^Vd^eg]e_g_cZe_fgYd^cge_gXde`cgYfUd`L ^faae^c[g e]dOd^cg e]g eV^cadUfYYe[ eJf`^fgV`egYVXfaNdZdfg]dgU?\gSIS[MW ZdaZegf]gV`9e_^fRReg]dgU?\gS[S'gd`]dJdL ]Ve^cgd`g:E>*ge__egXea^d^egSSMT[gNcL P_dcgSHgXgQMG[gYVOe_^fa`cgG[gZe^fPcade EBH[gZ_eYYfgA[gZc`YdY^f`RegSIW[gaf`]d^e \g KQM\WWWDg _9dUUcOd_fg `c`g -g Zc`L NcaUfge__egJdPf`^fg`caUe^dJegVaOe`dL Y^dZeg fg _eg af_e^dJeg ]cUe`]eg ]d Ye`e^cadeg-gY^e^egXafYf`^e^egd`g]e^e T\Q\_IIMg Zc`g JfaYeUf`^cg ]dg ^V^^fg _f cO_eRdc`dDg #6944:;.819;! 8178 <\gTS\WWW[WW =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN) ^5GE9N@J^CBE^NECJE@B)^ c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgTS\WWW[WWggYF_^f`^`daad^Y_fXd^I c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R<

* c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI c bF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe \f^Ye_aF[fYeUfdbFW^d[[d__F_M^[dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q `Pe_aR^?7A^[RYR[RI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd

\F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWM\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg WH\WS\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^ c FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^H:RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$:; CCCCC ,SSf[fd^F]F[ZUfdbf^fXXdOf`fe_f N`^0fZ\f[F^\F``PF]F[ZUfdbFW^ :77*;+!9)9; :69178; Le^Y_dbZb[fead^`e^]FVZFbaF B19NEJE%J EF`^XacZf]dUf`^cg`\gQQBSWWGg6\>\gg YFb\FbaF^a_e^ *eb[d^\f^EeYd`f _eTTf]eaF^`F^[db\fUfdbf^YF_^Y_d[F\F_F e``e^TFb\fae^[deaafTe^\F`^]FVZFbaF^OFbF) -:77:; 52$:/;/eXXea^eUf`^cgXfagZdJd_fgeOdL ^eRdc`fgYd^cg`f_gZcUV`fg]dg0de`cXc_d[ e__egJdegEe``f[gd`^\gH[gXde`cgQ\g89dUUcL Od_fg-gadXca^e^c[gadXca^e^cg`f_g:E>*gge_ NcP_dcg Q[g Xea^dZf__eg SIS[g YVOg TT[g Ze^\ @BQ[gZ_eYYfgS[gJe`dgH[M. 9N=.BEG Zebad^e``e^TFb\fae^[db^^fb[ebadW^\e^FSSFaQ aZe_]f^e`^ 6944:;.819;\f^<gHF\WFS[MW YF_^f` `daad^Zbf[dI F]]e^ \FTF^ eTF_^ `ZdVd^ e`^ Y_FUUd^ Oe]F^ \f^ <

HF\WFS[MW YF_^f`^`daad^^Zbf[dI^ `F^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXXf]]fOfQ `faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f^e^<gM\WWW[WW c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f [Zf^e`^]F[db\d^[dXXe^\F``e^XF\F]fXe \f]Yd]fUfdbF^bd_XeafTe<W^`PF]Y_F]]e^\fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ NE^1GDJ%NBEG^^JDDJ^ 5GE9N@J^CBE^NECJE@B c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd


b

c

c c

c

c

c

c

\F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWMg+>((6@A'gSWTQ[ Zc`g _fg Uc]e_d^=g fg Xfag d_g XafRRcg UdL `dUcg]dgZVdgYcXaeD -gNdYYe^e[gXfagd_gPdca`cgWHg+>((6@A' SWTQ[gcafgTS\WWgfgYfPP\[g_egJf`]d^eged XVOO_dZdg d`Ze`^dg ]f_g ZcUXf`]dcg dUL UcOd_deafgYcXaegd`]dZe^c[gZc`g_fgUcL ]e_d^=g fg Xfag d_g XafRRcg OeYfg ]dg ZVd d``e`RdD DJ^5GE9N@J^J55NGEG^JDDG ^=G0,GE@N^CBE9N%NBEN V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI `e^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eI^ FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^ Yda_ebbd^ \e_^ `ZdVd^ e\^ e`[Zb^ _f]e_[fQ XFbadW^fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW F]]Fb\d]f^\f^[f ^aFbZad^[dbad^bF``e^TeQ `ZaeUfdbF^\Ff^OFbfI `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI CCCCC

,SSf[fd^F]F[ZUfdbf^fXXdOf`fe_f N`^0fZ\f[F^\F``PF]F[ZUfdbFW^ :77*;+!9)9; :69178 Le^Y_dbZb[fead^`e^]FVZFbaF B19NEJE%J EF`^XacZf]dUf`^cg`\gSQBSWWTg6\>\g YFb\FbaF^a_e^ *eb[d^\f^EeYd`f _eTTf]eaF^`F^[db\fUfdbf^YF_^Y_d[F\F_F^ e``e^TFb\fae^[deaafTe^\F`^]FVZFbaF^OFbF) -:77:; 52$:/ //NeOOadZe^cg^faaeg g^f^^cgYd^c `f_gEcUV`fg]dg+ae`ZeJd__eg@`Pd^c_e[ _cZe_d^=g8e`Rea]c[gJdeg%\gEc`]f__c[gadL Xca^e^cg`f_g:E>*gge_gNcP_dcgTH[gXea^dL Zf__egMFF[g]dgXde`dg?Ve^^acgZcUXcY^c ]egJe`dgTK[M. 9N=.BEG Zebad^ e``e^ TFb\fae^ [db^ fb[ebadW^ \e^ FSSFaQ aZe_]f^e`^ 6944:;.819 \f^^YF_^f`^<gIW\HKK[WK `daad^Zbf[dI F]]e^ \FTF^ eTF_^ `ZdVd^ e`^ 6944:; .819 \f^ < IW\HKK[WK YF_^f`^`daad^^Zbf[dI^ `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXXf]]fOfQ `faMW^ bdb^ \FTdbd^ F]]F_F^ fbSF_fd_f^ e^ < TQ\WWW[WW

( c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ NE^1GDJ%NBEG^^JDDJ^ 5GE9N@J^CBE^NECJE@B c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F

b

c

c

c

c

c

c c

\F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWMg+>((6@A'gSWTQ[ Zc`g _fg Uc]e_d^=g fg Xfag d_g XafRRcg UdL `dUcg]dgZVdgYcXaeD -gNdYYe^e[gXfagd_gPdca`cgWHg+>((6@A' SWTQ[gcafgTS\WWgfgYfPP\[g_egJf`]d^eged XVOO_dZdg d`Ze`^dg ]f_g ZcUXf`]dcg dUL UcOd_deafgYcXaegd`]dZe^c[gZc`g_fgUcL ]e_d^=g fg Xfag d_g XafRRcg OeYfg ]dg ZVd d``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^ =G0,GE@N^CBE9N%NBEN V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^ Yda_ebbd^ \e_^ `ZdVd^ e\^ e`[Zb^ _f]e_[fQ XFbadW^fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW F]]Fb\d]f^\f^[f ^aFbZad^[dbad^bF``e^TeQ `ZaeUfdbF^\Ff^OFbfI `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI

c

c

c

c c

c

c

c

CCCCC 6>\g`\gSWBTIIM N`^Ceb[F``fF_F^\F``F^G]F[ZUfdbf^NXXdOf`fe_f J55N=J^C G [LF^f`^0fZ\f[F^\F``PG]F[ZUfdbF :77*118;+!9)9; :69178 bF``e^Y_d[F\Z_e^F]F[ZafTe fXXdOf`fe_F^b >A2H66?^1GW^ Le^\f]Yd]ad^`e^TFb\fae^]FbUe^fb[ebad^\F`^`daad ]daad\F][_faadW^bF``d^]aead^\f^Seaad^F^\f^\f_faad fb^[Zf^]f^a_dTeW^YF_^f`^Vfd_bd^^6^0GEEJNB^>AH4 YF_^f`^ 6944:;.819;\f^<gSF\TQG[WW\ -:77:;'52$:/ `V]egXacXadf^=g]dgV`geXXea^eL Uf`^cgYd^cgd`g8eUfRdeg;faUf[gJdeg+\ +fa_ed`c[[gadXca^e^cg`f_g:E>*g]dg]f^^c ZcUV`fg e_g NcP_dcg THg Xea^dZf__eg HHG YVOgSgZe^g@BKgJe`dgM[Mg`c`Z3 gXdf`e XacXadf^=g ]dg V`g e``fYYcg ^faaf`cg adL Xca^e^cg`f_g:E;ge_gNcP_dcgTHgXea^dZf__e IKMgZ_eYYfgTgeafgWW\WK\MW[gYVgZVdgd`YdL Y^fgV`gZcaXcg]dgNeOOadZeg`c`gZc`]cL `e^cgfg`c`geZZe^eY^e^c\ c [fe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7HW [dXXe^ HW^ [RYR[RW^ a_ebbF^ f`^ \FOfad_FW^ ; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_dQ [Z_ead_F^`FVe`FW^eb[LF^e^bd_Xe^\F``Pe_aR ?76W^[dXXe^4W^[RYR[R^8f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad

c

c

\f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW bdb^F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^XebQ \ead^e``F^`fafI^bF``PfYdaF]f^\f^[Zf^e`^[faead e_aR^?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F _f]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ Teae^eZaFbaf[eae^\dT_M^F]]F_F^\FYd]fQ aead^[dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF \F`^bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaQ aZe_]f^ bF`^ aF_XfbF^ \f^ [Zf^ e``Pe_aR^ ?:4W [dXXe^HW^[RYR[R<W^Y_F]Fbaeb\d^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_fW^\f[Lfe_eUfdbFW^fb^_FVd`e^[db^f`^Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e^Y_dQ [F\Z_eW^\F`^OFbF^8F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``3dSSF_aeI \Faae^\f[Lfe_eUfdbF^\FTFW^e`a_F] W^_F[e_F `F^ VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e f^[dbfZVfI^fb^[e]d^\f^[dXZbfdbF^`FVe`F \Ff^OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFQ bF_e`faM^ \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e` SfbF^\f^YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d KZdaeW^ f`^ OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eQ UfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d YF_]dbe`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FQ VfXF^ \f^ [dXZbfdbF^ \Ff^ OFbfW^ d[[d__F Y_d\Z__FW^d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZFQ ]aPZ`afXdW^F"^e_aR^H76W^[dXXe^HW^`FaaR^SW [d\R^[fTRW^KZF``e^\F`^[dbfZVF^bdb^e[KZfQ _FbaF^ \f^ [Zf^ e`^ ]F[db\d^ [dXXe^ \F``e XF\F]fXe^ \f]Yd]fUfdbF^ bd_XeafTe<W `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXe^F\^F]]F_F [d__F\eae^\e^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F``PdSSF_FbaF^FW^]F^bF[F]]eQ _fdW^\e^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I `PdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI `PdSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^ * f`^VfZ\f[F^d_\fbf^`Pfb[ebadI^ * ]febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`aeI `3dSSF_ae^bdb^;^FSSf[e[F)^ ;]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ;]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``3e_af[d`d^?-:^F^Yf&^]dY_e^_fQ [d_\eadI^ [<^]F^`3dSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SFQ _fOf`F^fbaF]aead^e^$.d]aF^Nae`febF^]Ye#W^fb Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `3F]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``3Z\fFbUe^Sf]]eae^YF_^`3F]eXF^\F``F^dSQ SF_aFW^e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI^ bF`^ [e]d^ \f^ Xeb[eae^ [dXYe_fUfdbF \F``PdSSF_FbaF^d^\FV`f^dSSF_Fbaf^`PeVVfZ\fQ [eUfdbF^]e_M^[dXZbKZF^\f]Yd]aeW^Seaae ]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FTf]fdbf^\f [Zf^e``Pe_aR^?7>W^[dXXf^>^F^4W^[RYR[RI^fb [e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[F\F_M e^Ve_e^]Z``PdSSF_ae^Yf&^e`ae^]F[db\d^f`^]fQ ]aFXe^ \F``F^ ][LF\F^ d^ OZ]aF^ ]FV_FaFW Seaae^]e`Te^`PeYY`f[eUfdbF^\F``Pe_aR^?74W [dXXe^>W^[RYR[RI^^^^^ fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $+dbaF^ \Ff^ .e][Lf^ \f^ =fFbe =RYRJR#^ ^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd


c

c

c

c c c c

c

c

c

c

c

c

c c

[LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^e_aR^?7H^[RYR[RI^ \Faad^e[[_F\fad^\FTF^eTF_F^`ZdVd^bdb d`a_F^[fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe \F`^aF_XfbF^Fba_d^f`^KZe`F^Yd]]dbd^F]Q ]F_F^Y_dYd]aF^`F^dSSF_aF^\3e[KZf]adI^Sfb \Pd_e^]f^Y_FTF\F^[LFW^KZeb\d^`3dSSF_ae^; Y_F]Fbaeae^[db^`F^Xd\e`faM^e`aF_beafTFW f`^aF_XfbF^YF_^f`^TF_]eXFbad^\F`^Y_FUUd F^ \f^ dVbf^ e`a_e^ ]dXXe^ ;^ \f^ bdTebae Vfd_bfI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ FTf\FbUfeadW^KZebad^e``PFTFbaZe`F^]Z[Q [F]]fTe^TFb\fae^eV`f^fb[ebafW^[LF) F]]e^\FTF^eTF_^`ZdVd^e`^ 6944: ]dY_e fb\f[ead^\f^<gSF\TQG[WWD `F :%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Mg#D dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe NW^[Y[W^a_ebbF^f`^\FOfad_F^;^eXXF]]d^e Sd_XZ`e_F^ dSSF_aF^ e``Pfb[ebad^ YF_]dbe`Q XFbaF^d^e^XFUUd^\f^Y_d[Z_ead_F^`FVe`F eb[LF^ e^ bd_Xe^ \F``Pe_aR?76W^ Z`afXd [dXXeW^Y_F]Fbaeb\d^Y_F]]d^`e^Ceb[F`Q `F_fe^ \F``F^ G]F[ZUfdbf^ NXXdOf`fe_fW^ \fQ [Lfe_eUfdbFW^ fb^ _FVd`e^ [db^ f`^ Od``dW [dbaFbFbaF^`Pfb\f[eUfdbF^\F`^Y_FUUdW^\F` aFXYdW^\F`^Xd\d^\f^YeVeXFbad^F^\f^dVbf e`a_d^ F`FXFbad^ Zaf`F^ e``e^ Te`ZaeUfdbF \F``PdSSF_ae^8^f`^Y_d[Z_ead_F^\dT_M^fb^dVbf [e]d^ F]]F_F^ XZbfad^ \f^ Xeb\ead^ ]YFQ [fe`F^_f]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faQ aZ_e^ Y_fTeae^ eZaFbaf[eaeW^ bdb^ F]]Fb\d ]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead^e``F^`fafI^ bF``PfYdaF]f^\f^[Zf^e`^[faead^e_af[d`d^?76W [dXXe^4W^[Y[W^f`^Xeb\ead^]YF[fe`F^_f]Z`Q aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae eZaFbaf[eae^ \dT_M^ F]]F_F^ \FYd]faead [dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF^\F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^ aF_XfbF^ \f^ [Zf^ e``Pe_af[d`d^ ?:4W [dXXe^NW^[Y[<I dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^^^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ

' TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ (N==JW^NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H^[RYR[RW^\Ff [dXYFb\f^ fXXdOf`fe_f^ ]dY_e^ fb\f[eaf^ F XFV`fd^ \F][_faaf^ bF``e^ _F`eUfdbF^ \F`Q `PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d _f[LfeXdW^KZe`F^Ye_aF^fbaFV_ebaF^F^]dQ ]aebUfe`F^\F``e^Y_F]FbaF^d_\fbebUeW^^faL Ud`fgNd`cge__fgcafgTQ\WWg]f_gPdca`cgF Pf``edcgSWTQ[gZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgYcXaeD b Xfag_9fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edg Yf`Ydg ]f__9ea^\g MGSg Z\X\Z\[g cJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafL Yf`^e^fgd`gUdYVaegYVXfadcafge]gV`e[ edgYf`Ydg]f__9ea^\gMGQgZ\X\Z\[g_9V]df`Re ]f_gIgPf``edcgSWTQ[gcafgI[QWgfgYfPP\D (N==JW^EGD^CJ=B^NE^C,N^DJ^5GE9N@J ^=GE%J^NECJE@B^EBE^J**NJ^D,B0BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F f]aebUF^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae^ef YZOO`f[f^fb[ebaf^\Ff^[dXYFb\f^fXXdOfQ `fe_f^]dY_e^fb\f[eaf^F^XFV`fd^\F][_faaf^bF``e _F`eUfdbF^\F``PF]YF_ad^fb^eaafW^e``e^KZe`F ]f^Se^F]Y_F]]d^_f[LfeXdW^KZe`F^Ye_aF^fbQ

aFV_ebaF^ F^ ]d]aebUfe`F^ \F``e^ Y_F]FbaF d_\fbebUeW^^faUd`fgNd`cge__fgcafgTQ\WW ]f_gSSgPf``edcgSWTQ[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgUd`dUcg]dgZVdgYcXaeD b Xfag d_g Pdca`cg SQg Pf``edcg SWTQ[g caf I[QWgfgYfPP\[g_egJf`]d^egedgXVOO_dZdgd`L Ze`^dg]fdgZcUXf`]dgdUUcOd_deadgYcXae d`]dZe^d[g Zc`g _fg Uc]e_d^=g fg Xfag d_ XafRRcgOeYfg]dgZVdgd``e`RdD =@J*NDN=CGW^JD@1G=NPW^C G^DJ^5GE9N@J J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW =NJ^ ,JDB1J^^5N^=N^(JCCNJ^D,B0B =GE%J^NECJE@BW^=NJ^^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\faeH bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI ,JE@B^JDDJ^.,**DNCN@ ^ NE^(,E%NBEG^9GDDJ^5GE9N@J) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM>) c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z \f^Zb^KZdaf\febd^\f^fbSd_XeUfdbF^e^\fSSZQ ]fdbF^`d[e`F^e^][F`ae^\F`^[_F\fad_FW^YZOQ O`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z Zbe^_fTf]ae^YF_fd\f[eW^YZOO`f[faM^\e^FSSFaQ aZe_]f^ e`XFbd^ KZe_ebae[fbKZF^ Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``3fb[ebadI c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^F \F``e^_F`eUfdbF^\f^]afXe^\F``PF]YF_ad^]Z Zb^ ]fad^ NbaF_bFa^ fb\fTf\Zead^ ef^ ]Fb]f \F``Pe_aR^H74^aF_^\f]YR^eaaR^[RYR[R^F^\f^[Zf^; \eae^bdafUfe^fb^Ceb[F``F_feW^e`XFbd^KZeQ _ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_

`e^ Y_F]FbaeUfdbF^ \F``F^ dSSF_aF^ d^ \F``e \eae^\F``Pfb[ebadI c f`^ [_F\fad_F^ Y_d[F\FbaF^ YZ W^ fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd) c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_feW^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^e^Z`aF_fd_f^Sd_XF^\f^YZOO`f[faM \e`^ XF\F]fXd^ Y_F][F`aFW^ \e^ F]FVZf_]f e`XFbd^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\Pd_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI^ c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^ ^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFR DeXFUfe^@F_XFW^` A8gE@:E>88A>6> CCCCC J55N=B^9N^5GE9N@J :\gIQBTIFFg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^^ (30+"3; 3003 ; + "3; "-+( "3(, Y_F]]d J==BCNJ%NBEG^EB@J1NDG^ .1BCG9,1G^G=GC,@N5G^ 9N^DJ+G%NJ^@G1+G^ .feUUe^\F``e^1FYZOO`f[e bF``e^Y_d[F\Z_e^F]F[ZafTe ER^642H6::^1FVR^G]R^NXXR Y_dYd]ae^\e^ *JECB^9N^EJ.BDN^=R.RJR 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^>?2A72>AA: bF``e^._d[F\Z_e^bR^642::^1RGRI 1faFbZad^bF[F]]e_fd^_fSf]]e_F^`e^TFb\fae^\Ff OFbf^YfVbd_eaf^_fXe]af^fbTFb\ZafW^[db^`e^_f\ZQ UfdbF^\F`^Y_FUUd^Oe]F^\f^Zb^KZe_ad^VfZ]ae^eZQ ad_fUUeUfdbF^\F`^0RGRI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^fb^\eae^SQgPf``edcgSWTQge__fgcafgTW[QW[ bF`^.e`eUUd^\f^0fZ]afUfe^\f^DeXFUfe^@F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^ ]f^ aF__M^ `e^ TFb\fae^ ]FbUe^ fb[ebad^ \Ff ]FVZFbaf^fXXdOf`f) -3003; (*; / A`g ^faad^cadcg ]dg 8eUfRde ;faUf[g YfRdc`fg :dZeY^ac[g XcaRdc`f dUUcOd_deafgNeZf`^fgXea^fg]f_gNeOOadL Ze^cg ]dg JfZZ3dYYdUeg ZcY^aVRdc`f XcY^cg e__eg Jdeg AXXc_d^cg )9AXXc_d^c[ Yf`Reg`\Z\gfgXafZdYeUf`^fg_9eXXea^eL Uf`^cg2eJf`^fgd`PafYYcgd`]dXf`]f`^f ]eg JdZcg AAg ;afUXe5g VOdZe^cg e_g Xde`c YfZc`]c[gZcUXcY^cg]egJe`dgZe^eY^e_d Yfd[gXfagV`egYVXfaNdZdfgZcUX_fYYdJe ]dgU?\TMTD adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c +eOOadZe^dge_gNcP_dcg]dgUeXXegTH[gXeaL ^dZf__e, TWSBYVO\TS[g Jdeg AXXc_d^cg )9AXXc_d^c[ Y`Z[g Xde`cg S7[g R\Z\T7[g Ze^\@BS[g Z_\T7[ Je`dgH[gaf`]\gZe^\g<gKHK[FTD # , 3; + ,/ <gSM\IKT[IK 8FZ_d^TFbaf[fbQ KZFXf`ebdTF[FbadKZe_ebaZbd^Tf_Vd`e^bdTebQ aeKZeaa_d< -3003; (*; / A`g ^faad^cadcg ]dg 8eUfRde ;faUf[g YfRdc`fg :dZeY^ac[g XcaRdc`f dUUcOd_deafgNeZf`^fgXea^fg]f_gNeOOadL Ze^cg ]dg JfZZ3dYYdUeg ZcY^aVRdc`f XcY^cg e__eg Jdeg AXXc_d^cg )9AXXc_d^c[ Yf`Reg`\Z\gfgXafZdYeUf`^fgd_g_cZe_fge Xde`cg^faaeg2PeaePf5[gZc`geZZfYYcg]e JdegAXXc_d^cg)9AXXc_d^c[g]f__egYVXfaNdL Zdfg]dgZdaZegU?\STD adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c +eOOadZe^dge_gNcP_dcg]dgUeXXegTH[gXeaL ^dZf__e, TWSBYVO\g H[g Jdeg AXXc_d^cg )9AXXc_d^c[ Y`Z[g Xde`cg ;[g R\Z\T7[g Ze^\EBH[g Z_\M7[ U?\ST[gaf`]\gZe^\g<gKF[FTD # , 3; + ,/;<gK\QHH[KTg8FZ_d^KZeaa_dXfQ `ea_F[Fbad]F]]ebae]Ff^Tf_Vd`e^KZe_ebaZbd< -3003; (*; / A`g ^faad^cadcg ]dg 8eUfRde ;faUf[g YfRdc`fg :dZeY^ac[g XcaRdc`f dUUcOd_deafgNeZf`^fgXea^fg]f_gNeOOadL Ze^cg ]dg JfZZ3dYYdUeg ZcY^aVRdc`f XcY^cg e__eg Jdeg AXXc_d^cg )9AXXc_d^c[ Yf`Reg`\Z\gfgXafZdYeUf`^fgd_g_cZe_fge Xde`cg^faaeg2PeaePf5[gZc`geZZfYYcg]e


JdegAXXc_d^cg)9AXXc_d^c[g]f__egYVXfaNdL Zdfg]dgZdaZegU?\SQD adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c +eOOadZe^dge_gNcP_dcg]dgUeXXegTH[gXeaL ^dZf__e, TWSBYVO\G[gJdegAXXc_d^cg)9AXXc_d^c[gY`Z[ Xde`cg;[gR\Z\T7[gZe^\EBS[gZ_\K7[gU?\SQ[ af`]\gZe^\g<gTSQ[MKD # , 3; + ,/ <gQ\GGM[GI 8FZ_d^a_FXf`e]FaQ aF[Fbad]Faaebae[fbKZF^Tf_Vd`e^]FaaebaebdTF< -3003; (*; / A`g ^faad^cadcg ]dg 8eUfRde ;faUf[g YfRdc`fg :dZeY^ac[g XcaRdc`f dUUcOd_deafgNeZf`^fgXea^fg]f_gNeOOadL Ze^cg ]dg JfZZ3dYYdUeg ZcY^aVRdc`f XcY^cg e__eg Jdeg AXXc_d^cg )9AXXc_d^c[ Yf`Reg`\Z\gfgXafZdYeUf`^fgd_g_cZe_fge Xde`cg^faaeg2PeaePf5[gZc`geZZfYYcg]e JdegAXXc_d^cg)9AXXc_d^c[g]f__egYVXfaNdL Zdfg]dgZdaZegU?\TID adXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c +eOOadZe^dge_gNcP_dcg]dgUeXXegTH[gXeaL ^dZf__e, TWSBYVO\TK[g Jdeg AXXc_d^cg )9AXXc_d^c[ Y`Z[g Xde`cg ;[g R\Z\T7[g Ze^\EBH[g Z_\M7[ U?\TI[gaf`]\gZe^\g<gKK[THD # , 3; + ,/ <gK\WWQ[TG 8FZ_d^KZeaa_dXfQ `eUF_dUF_da_F^Tf_Vd`e^\f[fe]]FaaF< J55N=J^JD@1G= CLF^bF``F^^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]fd Uf]fYdUdgOf`dg`f__fgYfPVf`^dg]e^fgf _VcP3d,g TQg NfOOaedcg SWTQg e__fg caf TW[QW[g0e_eRRcg]dg4dVY^dRdeg]dg8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ XafYYcgdg_cZe_dg]f__9@YYcZdeRdc`f\ -3003;(*; /;;# , 3; + ,/ <gSM\IKT[IK 8FZ_d^TFbaf[fbKZFXf`ebdTF[FbadKZe_ebaZbd Tf_Vd`e^bdTebaeKZeaa_d< + "3(,/ <g S\MIK[TI 8FZ_d^ \ZFXf`e[fbQ KZF[FbadbdTebaeKZeaa_d^Tf_Vd`e^\f[febbdTF< + ,(03; "(" 3/ <gT\SIG[TW 8FZ_d^Xf``FQ \ZF[FbadbdTebae]FaaF^Tf_Vd`e^\fF[f< -3003; (*; /; # , 3; + ,/ <g K\QHH[KT 8FZ_d^KZeaa_dXf`ea_F[Fbad]F]]ebae]Ff^Tf_Vd`e KZe_ebaZbd< + "3(,/ <g KQH[HK 8FZ_d^ KZeaa_d[FbadQ a_Fbae]Ff^Tf_Vd`e^]F]]ebaeKZeaa_d< + ,(03; "(" 3/;<gSTF[QSg8FZ_d^\ZF[FbQ ad\f[fdaad^Tf_Vd`e^a_Fbae\ZF< -3003; (*; /; # , 3; + ,/ <g Q\GGM[GI 8FZ_d^a_FXf`e]FaaF[Fbad]Faaebae[fbKZF^Tf_Vd`e ]FaaebaebdTF< + "3(,/ <gQGG[MF 8FZ_d^a_F[Fbad]FaaebQ ae]FaaF^Tf_Vd`e^[fbKZebadaad< + ,(03; "(" 3/ <gTFF[GI 8FZ_d^[FbadaQ aebadaad^Tf_Vd`e^]FaaebaebdTF< -3003;(*; /;;# , 3; + ,/; <gK\WWQ[TG 8FZ_d^KZeaa_dXf`eUF_dUF_da_F^Tf_Vd`e^\f[fe]Q ]FaaF< + "3(,/ <gKWW[QS 8FZ_d^KZeaa_d[Fbad^Tf_Q Vd`e^a_Fbae\ZF< + ,(03; "(" 3/ <g SWW[TH 8FZ_d^ \ZFQ [Fbad^Tf_Vd`e^]F\f[f< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`e][fd \F`^Y_FUUdR c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^ ]aead^ \f^ Seaad^ F^ \f^ \f_faad^ fb^ [Zf dVbZbd^]f^a_dTeW^]FbUe^e`[Zbe^Ve_ebUfe YF_^ FTfUfdbFW^ Xd`F]afF^ F^ Y_FaF]F^ \f FTFbaZe`f^[db\Zaad_fI^[db^V`f^e[[F]]d_fW \fYFb\FbUFW^YF_afbFbUFW^]F_Tfa&^eaafTF^F Ye]]fTF^F]f]aFbaf^F^\f_faaf^Y_dYd_Ufdbe`f ]Z``F^Ye_af^\F``PF\fSf[fd^[LF^\FTdbd^_faFQ bF_]f^ [dXZbf^ e^ bd_Xe^ \f^ `FVVF^ 8F\ FTFbaZe`F^_FVd`eXFbad^\f^[db\dXfbfd<R c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``e^_F`eUfdbF^\f^]afXe^\FYd]faeae^eV`f eaaf^\F``e^Y_d[F\Z_e^e^Sf_Xe^\F``PF]YF_ad fbVR^5fb[FbUd^@d_[e]fdW^[LF^YZ ^F]]F_F [db]Z`aeae^\e``PdSSF_FbaF^8F\^e``e^KZe`F ]f^Se^F]Y_F]]d^_fbTfd^eb[LF^YF_^aZaad^[f [LF^ [db[F_bF^ `PF]f]aFbUe^ \f^ FTFbaZe`f dbF_f^F^YF]f^e^KZe`]fe]f^afad`d^V_eTebaf ]Zf^OFbf<^]Z`^]fad^fbaF_bFa^!!!Re]aFRFZQ VFbfZ]Rfa^F^]Z^$N`^9dXebf#^\F``e^Ce`eO_feR c CZ]ad\F^\Ff^OFbf^Yd]af^fb^TFb\fae^;^`PfbVR 0fdTeXOeaaf]ae^ CLf_f``dW^ [db^ ]aZ\fd^ fb DeXFUfe^@F_XFW^[d_]d^EZXf]a_ebd^bR76 8aF`RA6-:2>?-46<W^[Zf^aZaaf^V`f^fbaF_F]]eaf e``Pe[KZf]ad^Yda_ebbd^_fTd`VF_]f^YF_^F]eQ Xfbe_F^V`f^fXXdOf`fR c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f

% C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^\f^CeaebUe_dW^e^[Zf^Yda_ebbd^_fQ Td`VF_]f^\f_FaaeXFbaFR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR DeXFUfe^@F_XFW^` ^>7^bdTFXO_F^>AH>^^ d_gXacNfYYdc`dY^eg]f_fPe^cg !:77:6; 862:; 2)85 2:59;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ^ 9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G c Zebad^e``e^TFb\fae^]FbUe^fb[ebad) b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegZc`L ^f`f`^fg]cUe`]eg]dgXea^fZdXeRdc`f d`gZea^eg]egOc__c[gf`^acg_fgcafgTS[WW ]f_gPdca`cgTFgPf``edcgSWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF^`F ]d`F^VFbF_e`faM^\f^[Lf^Y_F]Fbae^`PdSSF_aeW [LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fTF_]e \e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F^\F`Q `PF]F[ZUfdbFW^^f`^bdXF^\F`^Y_dSF]]fdbf]ae \F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f`^bZQ XF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aRH76W^[dR^H W^`FaaR^SW^[d\f[F^[fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f

c

c c

c c

c c c

c c

c c c c

c

c

c

c

c c c

c

c

Y_FTfe^eZad_fUUeUfdbF^\F`^0fZ\f[F^@ZaFQ `e_FR =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^+e_fd *f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe^bR642:: 1RGR#W^ YF_^ Zb^ fXYd_ad^ Ye_f^ e`^ HA^ YF_ [Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d^\f^[eZQ UfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d^\f^_fQ SfZad^\F``Pe[KZf]adR EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd +e_fd^*f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe 642::^ 1RGR#W^ Zbd^ KZe`F^ \fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^ Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR^ De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR^^DF^Sd_Xe`faM^V_eTebaf^]Z``PfXXdOf`F ]e_ebbd^[eb[F``eaF^e^[Z_e^F^]YF]F^\F`Q `PeVVfZ\f[eae_fdR =F^`PfXXdOf`F^;^d[[ZYead^\e`^\FOfad_F d^ \e^ aF_Uf^ ]FbUe^ afad`dW^ `e^ `fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR Zebad^e``e^TFb\fae^[db^fb[ebad)

b 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg Fg NfOOaedcg SWTQg OVY^e Z3dVYegZc`^f`f`^fg]cUe`]eg]dgXeaL ^fZdXeRdc`fgd`gZea^eg]egOc__c\ c De^\dXeb\e^\dT_M^[dbaFbF_F) c e<Q^ ]F^ YF_]dbe^ Sf]f[e)^ Q^ [dVbdXFW bdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F^SfQ ][e`FW^\dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW _F[eYfad^ aF`FSdbf[d^ \F`^ _f[LfF\FbaFI^ fb [e]d^`d^]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FQ VfXF^ Yea_fXdbfe`FW^ [db^ fb\f[eUfdbF^ KZe`d_e^ [dbfZVead^ fb^ _FVfXF^ \f^ [dXZQ bfdbF^`FVe`F^ ^\F``F^VFbF_e`faM^\F`^[dQ bfZVFR c J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R c Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR c O<Q^]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^_eYY_F]FbaebaFR^ c J``e^\dXeb\e^\dT_ebbd^F]]F_F^e``FVeaf ]fe^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^8\e``e KZe`F^_f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF F\^ f^ YdaF_f^ [dbSF_faf^ e``PdSSF_FbaF^ fb Z\fFbUe<^]fe^[dYfe^Sdad]aeaf[e^\f^Zb^TeQ `f\d^\d[ZXFbad^\f^f\FbafaM^\f^\Faad^dSSFQ _FbaFR c [<Q^ e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^+e_fd^*f`ebVfdbF^Y_d[FQ \Z_e^F]F[ZafTe^642::^1RGR#R c =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR c BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) c J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR c .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^ $bdaefd^ +e_fd^ *f`ebVfdbF^ Y_d[F\Z_e F]F[ZafTe^ 642::^ 1RGR#^ bdb[L'^ f`^ TFbaf YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbF ]FXY_F^ XF\febaF^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^+e_fd *f`ebVfdbF^Y_d[F\Z_e^F]F[ZafTe^642:: 1RGR#^ KZe`F^ Y_F]ZXfOf`F^ fXYd_ad^ YF_ ]YF]FR c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeQ UfdbF^ \f^ ae`f^ dSSF_aFW^ TF__M^ fb\Faae^ Zbe Ve_e^]F[db\d^`F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR ?:/^[RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^ \d[ZXFbaead^ F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR BVbf^\dXeb\e^\f^_F]afaZUfdbF^\F``e^[eZQ UfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f^dSQ SF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^


,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJe dUUcOd_deafg`7gHWBSWWH[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` H6RA6R>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^ \F`^ ]FVZFbaF^ OFbF^ fXXdOf`F^ fb^ Zb Zbf[d^`daad^^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf ]f^a_dTe^YF_^f`^>4RAHR>AH4 -:77:; 52$:/ /gdUUcOd_fgeg]VfgXde`dgNVcad ^faaegZc`gYfUd`^faae^cgf]geUXdcgXdeRL Re_f[gYd^cg`f_gEcUV`fg]dgEdZe_e[ge__e Jdeg@^^e`Rdc[g`\SM[gadXca^e^cg`f_g:E>* ]dg]f^^cgZcUV`fge_gNcP_dcgTT[gX\__egHQ fgHM[gZe^\g@BK[gZ_eYYfgT[gZc`YdY^f`Re I[MgJe`d.g\ #6944:;.819 <gSW\HGT[FG\ =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J^ =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819;\f fVacggSW\HGT[FGgYF_^f`^`daad^Zbf[dI^^ c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW

& Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^`e^Xeb[eae^Ye_aF[fYeUfdbF e``Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^eTTf]dW ^faUd`fgNd`cge__f cafgTQ\WWg]f_gSS\WT\SWTQgZc`g_fgUcL ]e_d^=g fg Xfag d_g XafRRcg Ud`dUcg ]dg ZVd YcXaeD b -gNdYYe^e[gXfaggd_gPdca`cggSQ\WT\SWTQ[ cafgI\QWgfgYfPP\g[gg_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW

c

c

c c c

c

c

c

c

]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI ,JE@B^JDDJ^.,**DNCN@ ^NE^(,E%NBEG^9GDDJ^5GE9N@J) ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM) fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^eTTf]dW^]Z^\f^Zb^KZdaf\febd^\f fbSd_XeUfdbF^e^\fSSZ]fdbF^`d[e`F^e^][F`ae \F`^[_F\fad_FW^YZOO`f[faM^\e^FSSFaaZe_]f^e`Q XFbd^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebadI fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ ]Z^ Zbe^ _fTf]ae^ YF_fdQ \f[eW^ YZOO`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ F^ \F``e^ _F`eUfdbF^ \f ]afXe^\F``PF]YF_ad^]Z^Zb^]fad^NbaF_bFa^fbQ \fTf\Zead^ef^]Fb]f^\F``Pe_aR^H74^aF_^\f]YR eaaR^[RYR[R^F^\f^[Zf^;^\eae^bdafUfe^fb^CebQ [F``F_feW^e`XFbd^KZe_ebae[fbKZF^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``Pfb[ebadI f`^ [_F\fad_F^ Y_d[F\FbaF^ YZ W^ fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd) e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_feW^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI^e^]ZF^]YF]F^8_fXOd_Q ]eOf`f^F"^e_aR^>77A^[d\R^[fTR<W^e^Z`aF_fd_f Sd_XF^\f^YZOO`f[faM^\e`^XF\F]fXd^Y_FQ ][F`aFW^\e^F]FVZf_]f^e`XFbd^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae

\F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\Pd_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI^ c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^ ^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFR DeXFUfe^@F_XFW^` ^H6RHHR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc :77*118; 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7FWBSWWF[g [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HARHAR>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^fb^Zb^Zbf[d^`daad^^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^]f^a_dTe^YF_^f`^>4RAHR>AH4 -:77:; 52$:/ /eXXea^eUf`^cgYd^cgd`g1cJfade %e``f__d[g Jde_fg 6VOf^^d`cg `\Q[g Xde`c XadUc[gZcUXcY^cg]egV`gd`PafYYcLZcaL ad]cdc[g Ye_c`f[g ZVZd`e[g Y^e`Reg ]e _f^^c[gZeUfaeg]eg_f^^cgUe^adUc`de_f[ OeP`c[gc_^afgOe_Zc`f[gXfagV`egYVXfaL NdZdfgZcUUfaZde_fg]dgU?\gTWT[WW\g89dUL UcOd_f[g Zeae^^fadRRe^cg ]eg e_ZV`f ]dNNcaUd^=gf]d_dRdf[gYe`eOd_dge_gZcY^cg]d <g MTH[WW[g -g adXca^e^cg `f_g :E>*g ]d ]f^^cgZcUV`fge_gNcP_dcgTQ[gX\__egTHG[ YVOgQIgZe^\g@BQ[gZ_eYYfgQ[gJe`dgM[Mg. #6944:;.819 <gSM\QTS[MW\ =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgSM\QTS[MW YF_^f`^`daad^Zbf[d^I^^ c `F^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^ c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F


e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^ c bF`^[e]d^\f^Zbe^]d`e^f]aebUe^\f^Ye_aF[fQ YeUfdbFW^ d[[d__F_M^ [dXZbKZF^ eYYd_Q ae_F^ Zb^ _fe`Ud^ XfbfXdW^ F"^ e_aR^ ?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^Zb^\d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H [RYR[RW^\F`^[dXYFb\fd^fXXdOf`fe_F^]dY_e fb\f[ead^ F^ XFV`fd^ \F][_faad^ bF``e^ _F`eQ UfdbF^\F``PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se F]Y_F]]d^ _f[LfeXdW^ KZe`F^ Ye_aF^ fbaFQ V_ebaF^F^]d]aebUfe`F^\F``e^Y_F]FbaF^eTQ Tf]dW ^faUd`fg Nd`cg e__fg cafg TQ\WWg ]f_ SS\WT\SWTQ[g Zc`g _fg Uc]e_d^=g fg Xfag d_ XafRRcgOeYfg]dgZVdgYcXaeD b -gNdYYe^e[gXfag_9fYeUfg]f__fgcNNfa^fg]d eZ?VdY^c[gedgYf`Ydg]f__9ea^\gMGSgZ\X\Z\[ cJJfacgXfag_egPeaegYV__fgUf]fYdUf[ YfgXafYf`^e^fgd`gUdYVaegYVXfadcafge] V`e[g edg Yf`Ydg ]f__9ea^\g MGQg Z\X\Z\[ _9V]df`Reg ]f_g SQ\WT\SWTQ[g cafg I[QWg f YfPP\D DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^

) D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^ YF_^ e`[Zb^ XdafTdR Cdb]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbQ aZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSSd_Q XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI ,JE@B^JDDJ^.,**DNCN@ ^ NE^(,E%NBEG^9GDDJ^5GE9N@J) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM) c fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^eTTf]dW^]Z^\f^Zb^KZdaf\febd^\f fbSd_XeUfdbF^e^\fSSZ]fdbF^`d[e`F^e^][F`ae \F`^[_F\fad_FW^YZOO`f[faM^\e^FSSFaaZe_]f^e`Q XFbd^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebadI c fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ ]Z^ Zbe^ _fTf]ae^ YF_fdQ \f[eW^ YZOO`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ F^ \F``e^ _F`eUfdbF^ \f ]afXe^\F``PF]YF_ad^]Z^Zb^]fad^NbaF_bFa^fbQ \fTf\Zead^ef^]Fb]f^\F``Pe_aR^H74^aF_^\f]YR eaaR^[RYR[R^F^\f^[Zf^;^\eae^bdafUfe^fb^CebQ

[F``F_feW^e`XFbd^KZe_ebae[fbKZF^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``Pfb[ebadI c f`^ [_F\fad_F^ Y_d[F\FbaF^ YZ W^ fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd) c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_feW^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^e^Z`aF_fd_f^Sd_XF^\f^YZOO`f[faM \e`^ XF\F]fXd^ Y_F][F`aFW^ \e^ F]FVZf_]f e`XFbd^KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F` aF_XfbF^YF_^`e^Y_F]FbaeUfdbF^\F``F^dSQ SF_aF^d^\F``e^\eae^\F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\Pd_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI^ c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^ ^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFR DeXFUfe^@F_XFW^` ^H6RHHR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc :77*118; 9.:68 ; 262$:

c

c

c

c

CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7THBSWWG[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` H6RA6R>AH>W^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\f^Zb^Zbf[d^`daad^^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^]f^a_dTe^YF_^f`^>4RAHR>AH4I -:77:; 52$:/ /g^faaf`cgfY^fYcgQ\QMWgU?[gYd^c `f_g EcUV`fg ]dg )fZc__e^Vae[g _cZe_d^= EV^Vae[gadZe]f`^fg`f_gNcP_dcg]dgUeXXe MG[g X\__eg `\TMQ\g 1Vg XcaRdc`fg ]f_g ^faL af`cg d`YdY^fg V`g NeOOadZe^cg 2e`Zcae `c`geZZe^eY^e^c5ge]dOd^cge]gfYYdZZeL ^cdcgXfag_fP`eUf[gZcY gYV]]dJdYc,gU? GF[WSg_cZe_fgZf__eg]dgfYYdZZeRdc`fgd` UVae^Vaeg^faUcdYc_e`^fgZc`gXca^fgd` Ue^fade_fgdYc_e`^fgfgZ3dVYVaeg]dgYdZVL afRReDgU?gSQ[TFg_cZe_fgZe_]ede[g?VeL ]acgf_f^^adZcg]dgZcUe`]cDgd_g^V^^cgd` c^^dUcg Y^e^cg ]dg Zc`YfaJeRdc`f[g Zc` ^V^^fg_fge^^afRRe^Vafg]dgZcaaf]cgXfaNf^L ^eUf`^fg NV`Rdc`e`^d\g@`Zcae[g -g XafL Yf`^fg V`eg ^f^^cdeg d`g Nfaacg Zc` ZcXfa^Vaegd`g_eUdfaegPafZe^e[gfY^fYe U?gTWT[MS[ge`Z39fYYegd`gc^^dUcgY^e^c ]dgZc`YfaJeRdc`f\gA_g^faaf`cgZc_^dJeL Od_f[g]dgZdaZegS\HWWgU?gXde`fPPde`^fgf ]dgOVc`eg?Ve_d^=gePac`cUdZe[g-g]dgNeL Zd_fgeZZfYYcgf]g-gXcYYdOd_fgfYfPVdaf UfZZe`dZeUf`^fg_fgcXfaeRdc`dgZc_^VL ae_d.\g #6944:;.819;<gQH\GWQ[TQ\ =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819;\f FZ_d^ ^ YF_^ f`^ `daad^ Zbf[d^ \f^ fVac QH\GWQ[TQDg c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^Q#g]f_gXafRRcgOeYfg]9eY^eDg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f`

c

c

c

c

c

c

c

OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI^bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXQ XdOf`F^e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF ]daad][_fTF^`Pf]aebUeI^e``Pf]aebUe^\f^Ye_aFQ [fYeUfdbF^\FTF^F]]F_F^e``FVeae^[dYfe^\f Te`f\d^\d[ZXFbad^\f^f\FbafaM^\F`^[db[d_Q _FbaF^FW^]F^bF[F]]e_fdW^Te`f\e^\d[ZXFbQ aeUfdbF^ [dXY_dTebaF^ f^ YdaF_f^ d^ `e `FVfaafXeUfdbF^\F``d^]aF]]d^8e\^F]R^Y_dQ [Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F^fb [e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI^e bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTTFQ bZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_F]FbQ aeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^bdb^]ZYF_e^\f^H2?^KZF``d^_eVVfZbad bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW^YF_aebadW \fTF__M^ \FSfbfafTe^ dTFW^ \F[d_]f^ \fF[f Vfd_bfW^ bdb^ ]febd^ ]aeaF^ Y_F]FbaeaF^ dSQ SF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^^=F bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad^Ye_Q aF[fYe^e``e^Ve_e^fb\Faae^e^bd_Xe^\F``Pe_aR ?:/W^[dXXe^4W^[RYR[RW^ `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ


[_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^ e[KZf]aeafI^ ;^ Yd]]fOf`FW^ YF_^ f Ye_aF[fYebaf^e``F^e]aFW^daaFbF_F^XZaZf^e ae]]f^F^[db\fUfdbf^F[dbdXf[LF^Y_F]aeOfQ `faf^\e^dVbf^]fbVd`e^Oeb[e^e\F_FbaF^Y_dQ ad[d``d^$J*N#^YF_^`e^[db[F]]fdbF^\f^XZaZf eV`f^eVVfZ\f[eae_fI^`PF`Fb[d^\F``F^Oeb[LF e\F_Fbaf^e``PfbfUfeafTe^YF_^f`^@_fOZbe`F^\f DeXFUfe^ @F_XF^ ;^ _FYF_fOf`F^ Y_F]]d^ `e Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H [RYR[RW^\F`^[dXYFb\fd^fXXdOf`fe_F^]dY_e fb\f[ead^ F^ XFV`fd^ \F][_faad^ bF``e^ _F`eQ UfdbF^\F``PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se F]Y_F]]d^ _f[LfeXdW^ KZe`F^ Ye_aF^ fbaFQ V_ebaF^F^]d]aebUfe`F^\F``e^Y_F]FbaF^eTQ Tf]dW ^faUd`fg Nd`cg e__fg cafg TQ\WWg ]f_ SS\WT\SWTQ[g Zc`g _fg Uc]e_d^=g fg Xfag d_ XafRRcgOeYfg]dgZVdgYcXaeD b -gNdYYe^e[gXfag_9fYeUfg]f__fgcNNfa^fg]d eZ?VdY^c[gedgYf`Ydg]f__9ea^\gMGSgZ\X\Z\[ cJJfacgXfag_egPeaegYV__fgUf]fYdUf[ YfgXafYf`^e^fgd`gUdYVaegYVXfadcafge] V`e[g edg Yf`Ydg ]f__9ea^\g MGQg Z\X\Z\[ _9V]df`Reg ]f_g SQ\WT\SWTQ[g cafg I\QWg f YfPP\D DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^]e_M^fb\f[eae^\e`^VRFR<I c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI ,JE@B^JDDJ^.,**DNCN@ ^ NE^(,E%NBEG^9GDDJ^5GE9N@J) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM)^fb^dVbf^[e]dW YF_^Zbe^]d`e^Td`aeW^\F`^Y_F]FbaF^eTTf]dW ]Z^ \f^ Zb^ KZdaf\febd^ \f^ fbSd_XeUfdbF^ e

) \fSSZ]fdbF^`d[e`F^e^][F`ae^\F`^[_F\fad_FW YZOO`f[faM^\e^FSSFaaZe_]f^e`XFbd^KZe_ebQ ae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``3fb[ebadI c fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ ]Z^ Zbe^ _fTf]ae^ YF_fdQ \f[eW^ YZOO`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI c fb^ dVbf^ [e]dW^ YF_^ Zbe^ ]d`e^ Td`aeW^ \F` Y_F]FbaF^ eTTf]dW^ F^ \F``e^ _F`eUfdbF^ \f ]afXe^\F``PF]YF_ad^]Z^Zb^]fad^NbaF_bFa^fbQ \fTf\Zead^ef^]Fb]f^\F``Pe_aR^H74^aF_^\f]YR eaaR^[RYR[R^F^\f^[Zf^;^\eae^bdafUfe^fb^CebQ [F``F_feW^e`XFbd^KZe_ebae[fbKZF^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``Pfb[ebadI c f`^ [_F\fad_F^ Y_d[F\FbaF^ YZ W^ fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd) c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_feW^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI^e^]ZF^]YF]F^8_fXOd_Q ]eOf`f^F"^e_aR^>77A^[d\R^[fTR<W^e^Z`aF_fd_f Sd_XF^\f^YZOO`f[faM^\e`^XF\F]fXd^Y_FQ ][F`aFW^\e^F]FVZf_]f^e`XFbd^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\Pd_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI^ c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^ ^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFR DeXFUfe^@F_XFW^` ^H6RHHR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc :77*118; 9.:68 ; 262$:

c

c

c

c

c c

c

CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\SFBSWWF[ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` HHRHAR>AH>^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^A-RA>R>AH4I ):77:;'52$: Q^/V`d^=gdUUcOd_deafge__cgY^e^c aVY^dZcg Yd^eg d`g 8eUfRdeg ;faUf[g Jde ]f__fgAUXafYf[g`\gTI[geJf`^fgV`egYVL XfaNdZdfg]dgZdaZegTTM[WWgU?\[gc_^afgegSF U?\g]dgOe_Zc`d\g89dUUcOd_f[gadXca^e^c `f_g:E>*g]dg]f^^cgZcUV`fge_gNcP_dc QF[gX\__egTHFT[gYVOgM[gXafYf`^eg]dNNcaL Ud^=gf]d_dRdfgf]gVaOe`dY^dZ3fgYVYZf^L ^dOd_dg]dgYe`e^cadeD 6944:; .819; ! 8178 fVacg SI\MQT[SMg 8[dXQ Y_Fb]fTd^\F``e^_f\ZUfdbF^]aeOf`fae< =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^^CBE^NECJE@B c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgSI\MQT[SM YF_^f`^`daad^Zbf[dI^^ c `F^:%%9679;25;8'&957:W^e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e^fVacgS\MWW[WW YF_^f`^`daad^Zbf[dI^ c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF

c

c

c

c

c

c

c

c

\F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^ Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aFW TF__M^fb\Faae^Zbe^Ve_e^]F[db\d^`F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^=F^bF]Q ]Zbd^ \FV`f^ dSSF_Fbaf^ fb^ eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad

[e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gWM\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg WH\WS\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N ^CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^ (JCCNJ^D,B0B^=GE%J^NECJE@BW^ =NJ^ ,JDB1J^5N^=N^(JCCNJ ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ


Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^^A?RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$: CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J 9N^*GEN^N++B*NDN^.N0EB1J@N^ G ^J1@^?-6^CB++J^4^C.C =N^1GE9G^EB@B^ CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7\SHBWHg [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe >/RHAR>AH>^Le^\f]Yd]ad^`e^TFb\fae^]FbUe^fbQ [ebad^\F`^`daad^Zbf[d^bF``d^]aead^\f^Seaad^F^\f \f_faad^fb^[Zf^]f^a_dTe^YF_^f`^A-RA>R>AH4W^F\^Le Sf]]ead^YF_^f`^[e]d^fb^[Zf^`e^]aF]]e^bdb^eOOfe `ZdVd^`e^TFb\fae^[db^fb[ebad^\F`^XF\F]fXd `daad^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f a_dTe^YF_^`PZ\fFbUe^\F`^>ARA>R>AH4I ):77:;'52$:;Q^/eXXea^eUf`^cgYd^cgd`g8eUfRde ;faUf[g1e`^9>VNfUde[ge__egJdeg0d``e Y`Z[g ZcY^d^Vd^cg ]eg V`g d`PafYYcLYcPL Pdca`c[g]egV`egZVZd`e[g]eg^afgZeUfaf[ ]egV`gOeP`c[g]egV`gadXcY^dP_dcgfg]e ]VfgOe_Zc`d[gXfagV`egYVXfaNdZdfgZcUL X_fYYdJeg_ca]eg]dgU?\gTTI[gc_^afge_gafL _e^dJcg Oc"g eV^c[g fY^fYcg Xfa ZcUX_fYYdJdgU?\TW\g89dUUcOd_fg-gadL Xca^e^cg`f_g:E>*g]dg]f^^cgZcUV`fge_ NcP_dcg TK[g X\__eHIQ[g YVOK[g Ze^\@BQ[ Z_eYYfgT[gJe`dgH[M.Dg 6944:;.819;! 8178 fVacgFS\FKQ[FG =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN^ 5GE9N@J^=GE%J^NECJE@B c Zebad^e``e^TFb\fae^]FbUe^fb[ebadW^\e FSSFaaZe_]f^ e`^ 6944:; .819 \f^ fVac FS\FKQ[FG YF_^f`^`daad^Zbf[dI^ c [fe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7HW [dXXe^ HW^ [RYR[RW^ a_ebbF^ f`^ \FOfad_FW^ ; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_dQ [Z_ead_F^`FVe`FW^eb[LF^e^bd_Xe^\F``Pe_aR ?76W^[dXXe^4W^[RYR[R^8f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad \f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW bdb^F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^XebQ \ead^e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R<W^Y_F]Fbaeb\d^Y_F]]d^`e^Ceb[F`Q `F_fe^ \F``F^ G]F[ZUfdbf^ NXXdOf`fe_fW^ \fQ [Lfe_eUfdbFW^ fb^ _FVd`e^ [db^ f`^ Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e^Y_dQ [F\Z_eW^\F`^OFbF^8F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``3dSSF_aeI c \Faae^\f[Lfe_eUfdbF^\FTFW^e`a_F] W^_F[e_F `F^ VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e f^[dbfZVfI^fb^[e]d^\f^[dXZbfdbF^`FVe`F \Ff^OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFQ bF_e`faM^ \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e` SfbF^\f^YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d KZdaeW^ f`^ OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eQ UfdbFI^ bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d YF_]dbe`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FQ VfXF^ \f^ [dXZbfdbF^ \Ff^ OFbfW^ d[[d__F Y_d\Z__FW^d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZFQ ]aPZ`afXdW^F"^e_aR^H76W^[dXXe^HW^`FaaR^SW

)

c

c

c c

c

c

c

c c

c

c

c

c

c

c

[d\R^[fTRW^KZF``e^\F`^[dbfZVF^bdb^e[KZfQ _FbaF^ \f^ [Zf^ e`^ ]F[db\d^ [dXXe^ \F``e XF\F]fXe^ \f]Yd]fUfdbF^ bd_XeafTe<W `PF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXe^F\^F]]F_F [d__F\eae^\e^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F``PdSSF_FbaF^FW^]F^bF[F]]eQ _fdW^\e^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I `PdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI `PdSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^ * f`^VfZ\f[F^d_\fbf^`Pfb[ebadI^ *;]febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`aeI `3dSSF_ae^bdb^;^FSSf[e[F)^ ]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``3e_af[d`d^?-:^F^Yf&^]dY_e^_fQ [d_\eadI^ $ ;]F^`3dSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SFQ _fOf`F^fbaF]aead^e^$.d]aF^Nae`febF^]Ye#W^fb Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI e``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI^ e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `3F]eXF^ \F``F^ dSQ SF_aFI `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^Sf]Q ]eae^YF_^`3F]eXF^\F``F^dSSF_aFW^e``e^Y_FQ ]FbUe^\FV`f^dSSF_FbafW^dTF^[dXYe_]fI^ bF`^ [e]d^ \f^ Xeb[eae^ [dXYe_fUfdbF \F``PdSSF_FbaF^d^\FV`f^dSSF_Fbaf^`PeVVfZ\fQ [eUfdbF^]e_M^[dXZbKZF^\f]Yd]aeW^Seaae ]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FTf]fdbf^\f [Zf^e``Pe_aR^?7>W^[dXXf^>^F^4W^[RYR[RI^ fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``PdSSF_ae^Yf&^e`ae^]F[db\d f`^]f]aFXe^\F``F^][LF\F^d^OZ]aF^]FV_FaFW Seaae^]e`Te^`PeYY`f[eUfdbF^\F``Pe_aR^?74W [dXXe^>W^[RYR[RI^^^^^ fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z^ [dbad^ Yd]ae`F^ d^ Oeb[e_fd^ fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $+dbaF^ \Ff^ .e][Lf^ \f^ =fFbe =RYRJR#^ ^Sf`fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd [LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^e_aR^?7H^[RYR[RI^ \Faad^e[[_F\fad^\FTF^eTF_F^`ZdVd^bdb d`a_F^[fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe \F`^aF_XfbF^Fba_d^f`^KZe`F^Yd]]dbd^F]Q ]F_F^Y_dYd]aF^`F^dSSF_aF^\3e[KZf]adI^Sfb \Pd_e^]f^Y_FTF\F^[LFW^KZeb\d^`3dSSF_ae^; Y_F]Fbaeae^[db^`F^Xd\e`faM^e`aF_beafTFW f`^aF_XfbF^YF_^f`^TF_]eXFbad^\F`^Y_FUUd F^ \f^ dVbf^ e`a_e^ ]dXXe^ ;^ \f^ bdTebae Vfd_bfI fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ KZebad^e``PFTFbaZe`FW^]Z[[F]]fTe^TFbQ

\fae^eV`f^fb[ebaf) c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgFS\FKQ[FG YF_^f`^`daad^Zbf[dI^ c `F^:%%9679;25;8'&957: ;e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^<\H\WWW[WWD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^ c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feI

c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW YF_aebadW^\fTF__M^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR^ c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^ c `PeVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZQ UfdbFI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H [RYR[RW^\F`^[dXYFb\fd^fXXdOf`fe_F^]dY_e fb\f[ead^ F^ XFV`fd^ \F][_faad^ bF``e^ _F`eQ UfdbF^\F``PF]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se F]Y_F]]d^ _f[LfeXdW^ KZe`F^ Ye_aF^ fbaFQ V_ebaF^F^]d]aebUfe`F^\F``e^Y_F]FbaF^d_Q \fbebUeW^ ^faUd`fg Nd`cg e__fg cafg TQ\WW ]f_gWM\WS\SWTQ[gZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgYcXaeD b -gNdYYe^e[gXfag_9fYeUfg]f__fgcNNfa^fg]d eZ?VdY^c[gedgYf`Ydg]f__9ea^\gMGSgZ\X\Z\[ cJJfacgXfag_egPeaegYV__fgUf]fYdUf[ YfgXafYf`^e^fgd`gUdYVaegYVXfadcafge] V`e[g edg Yf`Ydg ]f__9ea^\g MGQg Z\X\Z\[ _9V]df`Reg]f_gWH\WS\SWTQ[gcafgWI[QWgf YfPP\D EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW ^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTI\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -g NdYYe^e[g Xfag d_g Pdca`cg SW\WS\SWTQ[ cafgWI\QWgfgYfPP\[g_egJf`]d^egedgXVOL O_dZdgd`Ze`^dg]f_gZcUXf`]dcgdUUcOdL _deafgYcXaegd`]dZe^c[gZc`g_fgUc]e_d^= fgXfagd_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N ^CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N ^(JCCNJ^D,B0B^=GE%J^NECJE@BW^ =NJ^ ,JDB1J^5N^^=N^(JCCNJ^D,B0B ^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ


VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^>?RHAR>AH> A_g+V`Rdc`eadcg4dV]dRdeadc 9.:68 ; 262$:;; CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^ QG ^J1@R^?-6^CR.RCR^ NNN^G=.G1N+GE@BQ =N^1GE9G^EB@B^C G) N`^VfZ\f[F^\F``PF]F[ZUfdbf^fXXdOf`fe_fW^ fb^_F`eUfdbF^e``e^XacZ\g`7gSKBSWWIg6\>\[g [db^d_\fbebUe^_F]e^e``PZ\fFbUe^\F``PHHRHARH>W Le^ \f]Yd]ad^ `e^ TFb\fae^ ]FbUe^ fb[ebadW^ YF_ `PZ\fFbUe^\F`^A-RA>RH4W^FW^bF`^[e]d^bdb^eOOfe F]fadW^ YF_^ `e^ ]Z[[F]]fTe^ Z\fFbUe^ \F` >ARA>RH4W^[db^fb[ebadW^\F`^]FVZFbaF^OFbF^fXQ XdOf`FW^bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf F]]d^]f^a_dTeW^KZe`F^_f]Z`ae^\e``e^YF_fUfe^eV`f eaaf^\F`^Se][f[d`d^\F``PF]F[ZUfdbF^fXXdOf`fe_FW [Zf^]f^Se^fbaFV_e`F^_fSF_fXFbad^eb[LF^fb^_F`eQ UfdbF^e\^FTFbaZe`f^eOZ]f^F\f`fUfW^[LFW^`e\\dTF bF^]Z]]f]adbd^f^Y_F]ZYYd]afW^Yda_ebbd^F]]F_F ]ebeaf^d^[db\dbeaf^\e``PeVVfZ\f[eae_fd^Fba_d^f` aF_XfbF^\f^H>A^Vfd_bf^\e``e^bdafSf[eUfdbF^\F` \F[_Fad^\f^a_e]SF_fXFbad) ):77:; '52$:; /?Vc^eg ]dg g d]fe_fg d`]dJdYc ]f__egXdf`egXacXadf^=g]dgV`gNeOOadZe^c[ Zc`g]fY^d`eRdc`fgeOd^eRdc`f[gZcUXcL Y^cg ]eg Xde`cg ^faae[g Xde`cg XadUcg f Xde`cg YfZc`]c[g ]dg ZcUX_fYYdJdg U?\ _ca]dg TIS[g Zc`g Zca^d_fg ]dg Xfa^d`f`Re[ VOdZe^cg`f_gEcUV`fg]dg0_e^e`de[ge__e Ec`^ae]eg6d`]d`e[gZf`Yd^cg`f_g:E>* ]f_g Xaf]f^^cg EcUV`fg e_g NcP_dcg SQ[ X\__egIQQ[gZe^fPcadeg@BQ[gZ_eYYfgS[gJe`d H[M[gaf`]d^egfVacgSGF[HQ.Dg # , 3; 819/ <gFT\HWW[WWg =N^1GE9G^JECB1J^EB@B^C G^ND^0RGR J^^=@J*NDN@B^C G^DJ^5GE9N@J^ J55GE0J^JDDG^CBE9N%NBEN^C G^ =G0,BEB)^5GE9N@J^J0DN^NECJE@N) c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgFT\HWW[WW[g_f\daad^\f^H2/I c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^M#g]f_gXafRRc[

) c [dXF^_f\FaF_XfbeadI c dVbZbdW^ef^]Fb]f^\F``3e_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``3fb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``3e_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`3d_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``3fYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76 [dXXe^4^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^^aF_XfbF^\f^[Zf^e``3e_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``3fb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`3f]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbFW^fb^[e]d^\f^eVVfZ\f[eUfdbFI^ c bF``3fYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F \e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dQ XZbfdbF^ \Ff^ OFbfW^ d[[d__F^ Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]a3Z`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW^ c KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `3F]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `3f]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`3F][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`3fXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`3f]aebUeI c e``3f]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`3f]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^ .d]aF^Nae`febF^]RYReR W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\3e]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``3fbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `3fb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``3eVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``3e_aR ?:H^[RYR[RI^ c `e^Xeb[eae^Ye_aF[fYeUfdbF^e``3fb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `3fb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dba_dW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``3fb[ebadW dTF^`3dSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`3eVVfZ\f[eUfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``3e_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`3fb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f`

Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2?^KZF``d _eVVfZbad^bF``3fb[ebadI^`3eVVfZ\f[eUfdbFW YF_aebadW^\fTFbae^\FSfbfafTe^dTFW^\F[d_]f \fF[f^Vfd_bfW^bdb^]febd^]aeaF^Y_F]FbaeaF dSSF_aF^fb^eZXFbadI c ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``3e_aR^?7H^[RYR[RW^Y_F]aeb\d^[eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `3fb[ebadR^^^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f ae`f^dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]FQ [db\d^ `F^ Y_FTf]fdbf^ \f^ [Zf^ e``3e_aR^ ?:/ [RYR[R^^^=F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZQ XFbad^ Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e bd_Xe^ \F``3e_aR^ ?:/W^ [dXXe^ 4W^ [RYR[RW `3eVVfZ\f[eUfdbF^ \fTFbae^ \FSfbfafTe^ F TF__M^Y_dbZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf 8]e`Td^ [LF^ _f[d__e^ Zb^ \d[ZXFbaead^ F VfZ]afSf[ead^XdafTd<^`e^YF_\fae^\F``e^[eZQ UfdbFW^f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF _fbTFbfFbaF^e^aZaaf^V`f^FSSFaaf^\e``3F]F[ZQ UfdbFI c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``3eVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^ J*N ^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fI^`3F`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e`Q `3fbfUfeafTe^ YF_^ f`^ @_fOZbe`F^ \f^ DeXFUfe @F_XF^;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``FQ _feI ND^0RGR^(N==JW^NE^1GDJ%NBEG ^JDDJ^5GE9N@J^=GE%J^NECJE@BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F dSSF_aF^\f^e[KZf]adW^F"^e_aR^?7H^[RYR[RW^\F` [dXYFb\fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F XFV`fd^ \F][_faad^ bF``e^ _F`eUfdbF^ \F`Q `3F]YF_ad^fb^eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d _f[LfeXdW^KZe`F^Ye_aF^fbaFV_ebaF^F^]dQ ]aebUfe`F^\F``e^Y_F]FbaF^d_\fbebUeW^^faL Ud`fg Nd`cg e__fg cafg TQ\WWg ]f_g Pdca`c WM\WS\SWTQ[g Zc`g _fg Uc]e_d^=g fg Xfag d_ XafRRcgOeYfg]dgZVdgYcXaeD b Xfag_ fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edg Yf`Ydg ]f__ ea^\g MGSg Z\X\Z\[g cJJfac Xfag_egPeaegYV__fgUf]fYdUf[gYfgXafL Yf`^e^fgd`gUdYVaegYVXfadcafge]gV`e[ edgYf`Ydg]f__ ea^\gMGQgZ\X\Z\[g_ V]df`Re ]f_gWH\WS\SWTQ[gcafgI[QWgYY\Dg (N==JW^EGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0BW c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F f]aebUF^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae^ef YZOO`f[f^fb[ebaf^\F`^[dXYFb\fd^fXXdOfQ `fe_F^]dY_e^fb\f[ead^F^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\F``3F]YF_ad^fb^eaafW^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _f[LfeXdW^ KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``Pd_\fQ bebUe^\f^TFb\faeW^^faUd`fgNd`cge__fgcaf TQ\WWg ]f_g Pdca`cg TI\WS\SWTQ[g Zc`g _f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b Xfagd_gPdca`cgSW\WS\SWTQ[gcafgI[QWgf YfPP\[g_egJf`]d^egedgXVOO_dZdgd`Ze`^d ]f_gZcUXf`]dcgdUUcOd_deafgYcXaegd`L ]dZe^c[gZc`g_fgUc]e_d^=gfgXfagd_gXafRRc OeYfg]dgZVdgd``e`RdD =@J*NDN=CGW^JD@1G=NPW^C G^DJ^5GE9N@J J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW =NJ^ ,JDB1J^5N^=N^(JCCNJ^D,B0B =GE%J^NECJE@BW^=NJ^ ,JDB1J^5N^=N (JCCNJ^D,B0B^CBE^NECJE@B) c `PfXXdOf`F^TfFbF^Yd]ad^fb^TFb\fae^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTeW [d]f^[dXF^f\FbafSf[eadW^\F][_faad^F^Te`ZQ aead^ \e``3F]YF_ad^ bF``e^ _F`eUfdbFW^ [db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^bF^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `3F]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ QfTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``3ebbd^fb^[d_]d^F \F``3ebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_FQ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF

bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `3eVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^]Z^Zb `fO_Faad^Yd]ae`F^\f^\FYd]fad^VfZ\fUfe_fd^fbQ aF]aead^e`^\FOfad_F^F^_F[ebaF^f`^bZXF_d \F``e^ Y_F]FbaF^ Y_d[F\Z_e^ F]F[ZafTe 8KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`3eVVfZ\f[eae_fd^bdb^fbQ aFb\e^ eTTe`F_]f^ \F``e^ Se[d`aM^ \f ]ZOFba_e_F^bF`^[dba_eaadW^e``3e]]FVbd^[f_Q [d`e_F^]e_M^]d]afaZfadW^F"^e_aR^/HW^[dXXe /W^9RDV]R^H^]FaaFXO_F^H664W^bR^4:?W^f` YeVeXFbad^\f_Faad^e``e^Oeb[e^[_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^[db^[d``d[eUfdbF Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_XfbF^ F \Fa_eaad^Zb^e[[ebadbeXFbad^YF_^]YF]F bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e`^VRFR<I^ c fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``3eVVfZ\f[eUfdbFW e^bd_Xe^\F``3e_aR^?:7^[RYR[RI c ]d`aebad^e``3F]fad^\FV`f^e\FXYfXFbaf^Y_FQ [F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_beaf [F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_beaf^[F_afSfQ [eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fUfdbf FSSFaaZeaF^ ]Z`^ OFbF^ bdb[L'^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW^\e FSSFaaZe_]f^ [dbaF]aZe`XFbaF^ e^ KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]a3Z`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``3e_aR^ ?:[RYR[RI J55G1@G c Sfb^\3d_e^`F^Ye_af^[LFW^dTF^e``3Z\fFbUe^Sf]Q ]eae^ YF_^ `e^ [F`FO_eUfdbF^ \F``3fb[ebadW KZF]ad^bdb^eOOfe^`ZdVd^YF_^KZe`ZbKZF XdafTdW^]f^_f]F_Te^\f^eYY`f[e_F^fXXF\feQ aeXFbaF^ F^ [fd;^ e^ KZF``e^ ]aF]]e Z\fFbUe ^`3e_af[d`d^?6H^[d\R^Y_d[R^[fTRW ]FbUe^ e`[Zb^ _fbTfd^ fbaF_XF\fd^ d^ Z`aFQ _fd_FW^ fb^ KZF``d^ ]aF]]d^ [dbaF]ad^ ]FbQ aFb\d^ `F^ Ye_af^ F^ Y_dTTF\Fb\d^ ]Z``e \f]Yd]fUfdbF^\F``3eXXfbf]a_eUfdbF^VfZ\fQ Ufe_fe^ d^ ]Z``e^ Sf]]eUfdbF^ \f^ Zbe^ bZdTe TFb\faeR DeXFUfe^@F_XFW^4ARHAR>AH>^ +\^cgA_g4dV]dZfg]f__9fYfZVRdc`f :77*118;+!9)9; :69178 CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N 6\>\`7gFBSWTT ND^0N,9NCG^9GDDPG=GC,%NBEG DFaaf^V`f^eaaf^\F`^Y_d[F\fXFbad^F^][fdV`fFb\d `e^_f]F_Te^\f^[Zf^e`^TF_Oe`F^\f^ Z\fFbUe^\F`^>/RHAR>AH>I ._F]d^eaad^\F``Pf]aebUe^\f^TFb\fae Sd_XZ`eae^\e`^[_F\fad_F^Y_d[F\FbaFI _f`FTead^[LF^[Z]ad\F^\F`^OFbF^ YfVbd_ead^;^f`^\FOfad_FI [db]f\F_ead^[LF^`e^beaZ_e^F^`e^\F]afbeUfdbF \PZ]d^\F`^[dXYFb\fd^YfVbd_eadW^ZbfaeXFbaF e``e^ [e_FbUe^ \f^ F`FXFbaf^ Y_dOead_f^ \e^ [Zf YdaF_^FTfb[F_F^f`^[db[_Fad^YF_f[d`d^\f^Zb^_F`eQ afTd^\FaF_fd_eXFbad^bF``F^Xd_F^\F``e^\FSfbfQ UfdbF^\F``e^Y_d[F\Z_e^\f^TFb\faeW^fb\Z[dbd^e _faFbF_F^[LF^`e^]d]afaZUfdbF^\F`^\FOfad_F^[db Zb^ aF_Ud^ bF``PeaafTfaM^ \f^ [Z]ad\fe^ VfZ\fUfe_fe bdb^ eOOfeW^ e``d^ ]aeadW^ Zaf`faM^ F"^ e_aR^ ??6W [dXXe^/W^[RYR[RW^[dXF^bdTF``ead^\e``F^`FVVf :A2>AA?W>-42>AA?^ F^ ?H2>AA-W^ SF_Xd^ _FQ ]aeb\d^ `PdOO`fVd^ \f^ _Fb\F_F^ f`^ [dbad^ \f^ VFQ ]afdbFW^F"^e_aaR^?-A^F^?64^[RYR[RI _faFbZad^ \f^ YdaF_^ [db\fTf\F_F^ F^ Y_Fb\F_F^ e Sdb\eXFbad^\F`^Y_d]fFVZd^\F``e^Y_d[F\Z_e^`F [db[`Z]fdbf^\F``e^_F`eUfdbF^\F``PF]YF_adW^fb^d_Q \fbF^]fe^e``e^fb\fTf\ZeUfdbF^\F`^[dXYFb\fd fXXdOf`fe_F^[LF^e``e^]afXe^\F`^_F`eafTd^Te`d_F \f^XF_[eadI _eTTf]eaFW^YF_aebadW^`F^[db\fUfdbf^YF_^Y_d[FQ \F_FW^ef^]Fb]f^\FV`f^e_aaR^?-6W^?7H^F^?7-^[RYR[R [dXF^bdTF``eaf^\e``F^`FVVf^:A2>AA?W^>-42>AA? F^ ?H2>AA-W^ e`^ 6944:; .819 \f^ fVac SHG\GMW[WW e``e^ TFb\fae^ [deaafTe^ \F`^ ]FQ VZFbaF^OFbF) ):77:;'52$:; /geXXea^eUf`^cgYd^cg`f_gEcL UV`fg ]dg 8eUfRdeg ;faUf[g YfR\g :dZeL Y^ac[g Zc`^ae]eg %ePc_=[g VOdZe^cg e_ Xde`cg YfZc`]cg 2^faRcg NVcadg ^faae5g ]d V`g NeOOadZe^cg ]dg UePPdcafg Zc`YdL Y^f`Re[g Yf`Reg eYZf`Ycaf[g ZcUXaf`L YdJcg ]dg Yc^^c^f^^cg `c`g eOd^eOd_f eZZfYYdOd_fg Yc_cg ]eg YZe_eg d`^fa`eg e Z3dcZZdc_egfg]dgPeaePfgXcY^cge_gXde`c ^faaegfg]dgZca^fg]dgXfa^d`f`Reg]dgZdaZe U?gQHW[WW[gc_^afgZ3fg]f__eg?Vc^eg]dg ]dg Zca^fg ZcUV`f\g 89eXXea^eUf`^cg -


c

c c

c

c

c

c c

c

<

ZcUXcY^cg]egeUXdcgd`PafYYc[geUXdc YcPPdca`c[g Ye_eg ]eg Xae`Rc[g ZVZd`e eOd^eOd_f[g]VfgYfaJdRdgdPdf`dZd[gZeUfae ]cXXde[gZeUfaegUe^adUc`de_f[gadXcY^dL P_dcgfg_eJe`]fade[gXfagV`egYVXfaNdZdf ZcUX_fYYdJeg ]dg U?g TIM[IWg f]g -g ZdaL Zc`]e^cg]egOe_Zc`dgXfagV`egYVXfaNdL Zdfg_ca]eg]dgU?gMK[MW\gA_gYc^^c^f^^cg3e V`eg YVXfaNdZdfg ZcUX_fYYdJeg ]dg U? GW[IMg ZdaZeg Zc`g eZZfYYcg e]g eUXdc ^faaeRRcg eJf`^fg YVXfaNdZdfg ]dg U? TQF[TM\g A_g PeaePfg -g XcY^cg e_g Xde`c ^faaegf]g-gZcUXcY^cg]eg]cXXdcg_cZe_f Zc`geZZfYYcgYdegd`^fa`cgZ3fgfY^fa`c f]g 3eg V`eg YVXfaNdZdfg _ca]eg ]dg U? MS[WW\gA_g^V^^cg-gZf`Yd^cg`f_g:E>*g]f_ Zd^e^cgEcUV`fge_gNcP_dcgTG[gX\__egHQQ[ YVOg Mg fg F[g Rc`eg Zf`Y\g T[g Ze^fP\g @S[ Z_eYYfgS[gZc`YdY^f`RegJe`dgTT[gXde`c ;LS\gA`^fa`cgSgYZe_eg(.D _f`FTead^[LF^d[[d__F^Sf]]e_F^f^aF_Xfbf^YF_ `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^ ]FbUe^ fb[ebadW^ `e^ ]Z[[F]]fTe Z\fFbUe^YF_^`PF]eXF^\F``F^]aF]]F^FW^YF_ f`^ [e]d^ fb^ [Zf^ bdb^ eOOfe^ YF_^ KZe`]fe]f XdafTd^`ZdVd^`e^TFb\fae^]FbUe^fb[ebadW Sfb^\Pd_e^`e^\eae^YF_^V`f^fb[ebafI^ FTf\FbUfead^KZebad^e``e^TFb\fae^]FbUe fb[ebad^[LF)^^ Cfe][Zb^dSSF_FbaFW^ef^]Fb]f^\F``Pe_aR^?7H [dXXe^H^[Y[^a_ebbF^f`^\FOfad_FW^;^eXQ XF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`Pe[KZf]ad YF_]dbe`XFbaF^d^e^XFUUd^Y_d[Z_ead_F `FVe`F^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4^ [Y[^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^bF``F^fYdaF]f^\f^[Zf^e`^[faead^e_aR ?76^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`Q aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae eZaFbaf[eae^ \dT_M^ F]]F_F^ \FYd]faead [dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF^\F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4^[dXXe^H [Y[<^Y_F]Fbaeb\d^Y_F]]d^`e^[eb[F``F_fe \F``F^ F]F[ZUfdbf^ fXXdOf`fe_fW^ \f[Lfe_eQ UfdbfW^fb^_FVd`e^[db^f`^Od``dW^[dbaFbFbaF e^YFbe^\f^fbFSSf[e[fe^`Pfb\f[eUfdbF^\F`^bZQ XF_d^\f^10G^\F``e^Y_d[F\Z_eW^\F`^OFbF 8F^\F`^`daad<^^[Zf^`PdSSF_ae^]f^_fSF_f][FW^\F` Y_FUUdW^\F`^aFXYdW^\F`^Xd\d^\F`^YeVeQ XFbad^F^\f^dVbf^e`a_d^F`FXFbad^Zaf`F^e``e Te`ZaeUfdbF^\F``PdSSF_aeI 9Faae^\f[Lfe_eUfdbFW^\FTFW^e`a_F] W^_FQ [e_F^`F^VFbF_e`faM^\F``PdSSF_FbaF^8bdXFW [dVbdXFW^`ZdVd^F^\eae^\f^be][faeW^[dQ \f[F^Sf][e`FW^_F]f\FbUe2^\dXf[f`fdW^]aead [fTf`F^FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdQ bfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dXZbfdbF `FVe`F^ \Ff^ OFbfW^ d[[d__F_M^ fb\f[e_F eb[LF^`F^VFbF_e`faM^\F`^[dbfZVF^bdb^dSQ SF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F^e\^FbQ a_eXOfW^ Y_d^ KZdaeW^ f`^ OFbF^ fb^ [e]d^ \f eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZf]ad e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dbfZVF fb^ _FVfXF^ \f^ [dXZbfdbF^ \Ff^ OFbfW^ d[Q [d__F^Y_d\Z__FW^d`a_F^e``e^\f[Lfe_eUfdbF \f^KZF]aPZ`afXd^F"^e_aR^H76^[dXXe^HW^`FaQ aF_e^(W^[d\R^[fTR^KZF``e^\F`^[dbfZVF^bdb e[KZf_FbaF^ \f^ [Zf^ e`^ ]F[db\d^ [dXXe \F``e^ XF\F]fXe^ \f]Yd]fUfdbF^ bd_XeQ afTe<W^ `PF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXe^F\ F]]F_F^[d__F\eae^\e^[dYfe^\f^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^\F``PdSSF_FbaF^FW^]F bF[F]]e_fdW^\e^Te`f\e^\d[ZXFbaeUfdbF [dXY_dTebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF \F``d^]aF]]d^8^e\^F]R^Y_d[Z_e^]YF[fe`F^d [F_afSf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I^ DPdSSF_aeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadI Edb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeI DPdSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^ * f`^VfZ\f[F^d_\fbf^`Pfb[ebadI *;]febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`aeI DPdSSF_ae^bdb^;^FSSf[e[F)^ ;]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``Pe_af[d`d^?-:^F^Yf&^]dY_e^_fQ [d_\eadI^ $ ]F^`PdSSF_FbaF^bdb^Y_F]ae^[eZUfdbFW^e XFUUd^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fQ Of`F^fbaF]aead^e^$^.d]aF^Nae`febF^]Ye#W^fb

)) Xf]Z_e^ bdb^ fbSF_fd_F^ e`^ \F[fXd^ \F` Y_FUUd^\e^`Zf^Y_dYd]adI^ c J``PdSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`Pe]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW^e [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `PF]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``PZ\fFbUe^Sf]]eae^YF_^`PF]eXF^\F``F^dSQ SF_aFW^e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI^bF`^[e]d^\f^Xeb[eae^[dXYeQ _fUfdbF^ \F``PdSSF_FbaF^ d^ \FV`f^ dSSF_FbafW `PeVVfZ\f[eUfdbF^]e_M^[dXZbKZF^\f]YdQ ]aeW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FQ Tf]fdbf^ \f^ [Zf^ e``Pe_aR^ ?7>^ [dXXf^ >^ F^ 4 [Y[I^fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_dQ [F\F_M^ e^ Ve_e^ ]Z``PdSSF_ae^ Yf&^ e`ae^ ]FQ [db\d^f`^]f]aFXe^\F``F^][LF\F^d^OZ]aF ]FV_FaFW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F`Q `Pe_aR^?74^[dXXe^>^[Y[I c Nb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^eb[LF^XF\febaF^`Pe[Q [_F\fadW^e^XFUUd^\f^OdbfSf[d^d^\FYd]fad ]Z`^[dbad^Yd]ae`F^d^Oeb[e_fd^fbaF]aead e``e^Y_d[F\Z_e^F]F[ZafTe^F\^e[[F]d^d \e^ e[[Fb\F_]fW^ bF`^ ]F[db\d^ [e]dW Y_F]]d^ f`^ $+dbaF^ \Ff^ .e][Lf^ \f^ =fFbe ]Ye#Q^ Sf`fe`F^ \f^ DeXFUfe^@F_XFW^ \f^ Zbe ]dXXe^ Ye_f^ e\^ Zb^ \F[fXd^ \F`^ Y_FUUd [LF^]f^fbaFb\F^dSS_f_F^F^XF\febaF^`e^[dQ XZbf[eUfdbFW^e^XFUUd^aF`FSe"^d^Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^ e_aR^ ?7H^ [Y[I^ \Faad^ e[[_F\fad \FTF^eTF_F^`ZdVd^bdb^d`a_F^[fbKZF^Vfd_bf Y_fXe^\F``e^][e\FbUe^\F`^aF_XfbF^Fba_d f`^KZe`F^Yd]]dbd^F]]F_F^Y_dYd]aF^`F^dSQ SF_aF^ \Pe[KZf]adI^ Sfb^ \Pd_e^ ]f^ Y_FTF\F [LFW^KZeb\d^`PdSSF_ae^;^Y_F]Fbaeae^[db `F^Xd\e`faM^e`aF_beafTFW^f`^aF_XfbF^YF_^f` TF_]eXFbad^\F`^Y_FUUd^F^\f^dVbf^e`a_e ]dXXe^;^\f^bdTebae^Vfd_bfI^ c Nb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c GP^Yd]]fOf`F^YF_^f^Ye_aF[fYebaf^e``F^e]aF daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^[eb[F``F_feI c GTf\FbUfeadW^KZebad^e``PFTFbaZe`FW^^]Z[Q [F]]fTe^TFb\fae^eV`f^fb[ebafW^[LF^) c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944: ]dY_e fb\f[ead^\f^fVacgSHG\GMW[WWD c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^M#Dg c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76^[dXXe^H [Y[W^ a_ebbF^ f`^ \FOfad_FW^ ;^ eXXF]]d^ e Sd_XZ`e_F^ dSSF_aF^ e``Pfb[ebad^ YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`FW^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4^ [Y[^ 8^ f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``F^ fYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76 [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4^[dXXe^H [Y[<I^ c BVbf^ [db[d__FbaFW^ YF_^ F]]F_F^ eXQ XF]]d^ e``Pfb[ebadW^ \FTF^ Y_F]Fbae_F f]aebUe^\f^Ye_aF[fYeUfdbFW^fb^_FVd`e^[db f`^Od``dW^_F[ebaFW^e^YFbe^\f^fbFSSf[e[feW `Pfb\f[eUfdbF^\F`^bZXF_d^_RVRFR^\F``e^Y_dQ [F\Z_eW^ f`^ OFbF^ d^ f`^ `daad^ [Zf^ `Pf]aebUe ]aF]]e^;^_fSF_faeW^f`^Y_FUUd^Y_dYd]adW^`F Y_dY_fF^ VFbF_e`faM^ 8bdXFW^ [dVbdXFW `ZdVd^F^\eae^\f^be][faeW^[d\f[F^Sf][e`FW _F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F^FW^]F^[dQ bfZVeadW^ _FVfXF^ Yea_fXdbfe`F^ S_e^ f^ [dQ bfZVfI c fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff^OFbfW

c

c

c c

c

c

c

c

c

c

d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbF_e`faM \F`^ [dbfZVF^ bdb^ dSSF_FbaFW^ e`^ SfbF^ \f YdaF_^a_e]SF_f_F^e\^Fba_eXOfW^Y_d^KZdaeW f`^OFbF^fb^[e]d^\f^eVVfZ\f[eUfdbFI^bF`Q `PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dbe`F^\e Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f^[dXZQ bfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW^d`a_F e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW^F"^e_aR H76^[dXXe^HW^`FaaF_e^(W^[d\R^[fTR^KZF``e \F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]FQ [db\d^[dXXe^\F``e^XF\F]fXe^\f]Yd]fQ UfdbF^ bd_XeafTe<W^ `PF]Y_F]]e \f[Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI DPf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI Nb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8^e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]e^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]Ye#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI e``PF]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``PF]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `PZ\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI^ `F^OZ]aF^]e_ebbd^eYF_aF^e``PZ\fFbUe^]aeQ Of`fae^YF_^`Pfb[ebadW^e``e^Y_F]FbUe^\FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[Y[I^`e^Xeb[eae^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadW^YF_]dbe`XFbaF^d^e^XFUUd^\f Y_d[Z_ead_F^]YF[fe`FW^]FbUe^\d[ZXFbQ aead^ F^ VfZ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LF^\f^[dba_d^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI bF`^[e]d^\f^Zbe^]d`e^f]aebUe^\f^Ye_aF[fQ YeUfdbFW^ d[[d__F_M^ [dXZbKZF^ eYYd_Q ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR?:H^[dXXe >^[Y[W^YF_^[db]FVZf_F^`PeVVfZ\f[eUfdbF Y_dTTf]d_feI e^bd_Xe^\F``Pe_aR^?:/^[Y[W^fbSeaafW^eTTFQ bZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_F]FbQ aeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF YF_Fbad_fd^ \f^ HA^ Vfd_bf^ \e``e^ Ve_eW^ Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^bdb^]ZYF_e^\f^H2?^KZF``d^_eVVfZbad bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW^YF_aebadW \fTF__M^\FSfbfafTe^dTFW^\F[d_]f^HA^Vfd_bfW bdb^]febd^]aeaF^Y_F]FbaeaF^dSSF_aF^fb^eZQ XFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^[eb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^?7H^[Y[^Y_F]aeb\d^[eZUfdbF^YF_ Zbe^ ]dXXe^ Ye_f^ e`^ \dYYfd^ \F``e^ [eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR^?:/^[Y[R^

c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/^[dXXe^4^[Y[W^`PeVVfZ\f[eQ UfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dbZbQ [feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8^]e`Td^[LF _f[d__e^ Zb^ \d[ZXFbaead^ F^ VfZ]afSf[ead XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f`^[Zf fXYd_ad^;^a_eaaFbZad^[dXF^_fbTFbfFbaF^e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI c Nb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [F\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI^ c GP^Yd]]fOf`F^YF_^f^Ye_aF[fYebaf^e``F^e]aF daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^[eb[F``F_feI (N==J^NE^1GDJ%NBEG^JDDJ^ 5GE9N@J^=GE%J^NECJE@B c .F_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^F]F[ZUfdbf^fXXdOf`fe_f^\F``F dSSF_aF^\f^e[KZf]ad^F"^e_aR^?7H^[RYR[R^\F` [dXYFb\fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F XFV`fd^ \F][_faad^ bF``e^ _F`eUfdbF^ \F`Q `PF]YF_ad^fb^eaafW^[Zf^]f^Se^F]Y_F]]d^_fSF_fQ XFbadW^ KZe`F^ Ye_aF^ fbaFV_ebaF^ F ]d]aebUfe`F^ \F``e^ Y_F]FbaF^ d_\fbebUeW ^faUd`fgNd`cge__fgcafgTQ[WWg]f_gPdca`c MgNfOOaedcgSWTQ[gZc`g_fgUc]e_d^=gfgd_ XfagXafRRcgOeYfg]dgZVdgYcXaeD b 0fag_9fYeUfg]f__fgcNNfa^fg]dgeZ?VdY^c[ edgYf`Ydg]f__9ea^\MGSgZ\X\Z\gcJJfacgXfa _egPeaegYV__fgUf]fYdUf[gYfgXafYf`L ^e^fg d`g UdYVaeg e]g V`e[g edg Yf`Ydg ]f_L _9ea^\gMGQgZXZ[g_9V]df`Reg]f_gPdca`cgH NfOOaedcgSWTQgcafgI[QWgfgYfPP\ggg (N==JWEGD^CJ=B^NE^C,N^DJ^5GE9N@J^ =GE%J^NECJE@B^EBE^J**NJ^D,B0B c .F_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^[eb[F`Q `F_fe^ \F``F^ F]F[ZUfdbf^ fXXdOf`fe_f^ \F`Q `Pf]aebUe^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae ef^YZOO`f[f^fb[ebaf^\F`^[dXYFb\fd^fXXdQ Of`fe_F^]dY_e^fb\f[ead^F^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\F``PF]YF_ad^fb^eaafW^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _f[LfeXdW^ KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``e^Y_FQ ]FbaF^d_\fbebUeW^^faUd`fgNd`cge__fgcaf TQ[WWg ]f_g Pdca`cg TIg NfOOaedcg SWTQ[ Zc`g _fg Uc]e_d^=g fg Xfag d_g XafRRcg UdL `dUcg]dgZVdgYcXaeD b 0fag d_g Pdca`cg SWg NfOOaedcg SWTQ[g caf I[QWgfgYfPP\[g_egJf`]d^egedgXVOO_dZdgd`L Ze`^dg ]f_g ZcUXf`]dcg dUUcOd_deaf YcXaegd`]dZe^cgZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgd``e`RdD =@J*NDN=CGW^JD@1G=NPW^C G^DJ^5GE9N@J J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW =NJ^ ,JDB1J^5N^=N^(JCCNJ^D,B0B =GE%J^NECJE@BW^=NJ^ ,JDB1J ^5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^ c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfe^W^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^-A^Vfd_bf \e``e^ \eae^ \f^ eVVfZ\f[eUfdbF^ ]Z^ Zb^ `fQ O_Faad^Yd]ae`F^\f^\FYd]fad^VfZ\fUfe_fd^fbQ aF]aead^e`^\FOfad_F^F^_F[ebaF^f`^bZXF_d \F``e^ Y_F]FbaF^ Y_d[F\Z_e^ F]F[ZafTe^ 8 KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbQ


aFb\e^eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFbQ a_e_F^bF`^[dba_eaadW^e``Pe]]FVbd^[f_[d`e_F ]e_M^ ]d]afaZfadW^ F"^ e_aR^ /H^ [dXXe^ / 9RDV]R^H^]FaaFXO_F^H664^b ^4:?W^f`^YeQ VeXFbad^ \f_Faad^ e``e^ Oeb[e^ [_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^[db^^[d``d[eUfdbF Y_fTf`FVfeaeW^ Fba_d^ `d^ ]aF]]d^ aF_XfbF^ F \Fa_eaad^Zb^e[[ebadbeXFbad^YF_^]YF]F bF``e^Xf]Z_e^[LF^]e_M^fb\f[eae^\e`^VRFR< I^fb^Xeb[ebUeW^]f^Y_dTTF\F_M^e^\f[LfeQ _e_F^`e^\F[e\FbUe^\e``PeVVfZ\f[eUfdbFW e^bd_Xe^\F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI 9N=.BEGW^ ,JE@B^JDDJ^.,**DNCN@JP NE^(,E%NBEG^9GDDJ^5GE9N@JW^C G) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`PeTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``Pe`Od^\F``P,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^ c YZOO`f[faM^)^ c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z \f^Zb^KZdaf\febd^\f^fbSd_XeUfdbF^e^\fSSZQ ]fdbF^`d[e`F^e^][F`ae^\F`^[_F\fad_FW^YZOQ O`f[faM^ \e^ FSSFaaZe_]f^ e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``Pfb[ebadI c fb^dVbf^[e]d^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z Zbe^_fTf]ae^YF_fd\f[e^YZOO`f[faM^\e^FSSFaQ aZe_]f^ e`XFbd^ KZe_ebae[fbKZF^ Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``Pfb[ebadI c fb^dVbf^[e]d^W^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUe^W^F][`Z]F^`F^bdaFW^F \F``e^_F`eUfdbF^\f^]afXe^\F``PF]YF_ad^]Z Zb^ ]fad^ fbaF_bFa^ fb\fTf\Zead^ ef^ ]Fb]f \F``Pe_aR^H74^aF_^\f]YR^eaaR^[Y[^F^\f^[Zf^; \eae^bdafUfe^fb^[eb[F``F_feW^e`XFbd^KZeQ _ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_ `e^ Y_F]FbaeUfdbF^ \F``F^ dSSF_aF^ d^ \F``e \eae^\F``Pfb[ebadI c f`^[_F\fad_F^Y_d[F\FbaFW^Yd]]eW^fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd)^ c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^[db^YZOO`f[faM^XZ_e_fe^W^\e^FSQ SFaaZe_]f^bFf^CdXZbf^\f^DeXFUfe^@F_XF F^\f^ZOf[eUfdbF^\FV`f^fXXdOf`fW^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``Pfb[ebadI c e^]ZF^]YF]F^8_fXOd_]eOf`f^F"^e_aR^>77A [d\R^[fTR<W^e\^ZbPZ`aF_fd_F^Sd_Xe^\f^YZOQ O`f[faM^\e`^XF\F]fXd^Y_F][F`aeW^\e^F]FQ VZf_]f^ e`XFbd^ KZe_ebae[fbKZF^ Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``Pfb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`PZ`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\e^d_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``PF]YF_fOf`faM \F``e^TFb\faeI c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^Q^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFI J55G1@G c Sfb^\Pd_e^`F^Ye_af^[LFW^dTF^e``PZ\fFbUe^Sf]Q ]eae^ YF_^ `e^ [F`FO_eUfdbF^ \F``Pfb[ebadW KZF]ad^bdb^eOOfe^`ZdVd^YF_^KZe`ZbKZF XdafTdW^]f^_f]F_Te^\f^eYY`f[e_F^fXXF\feQ aeXFbaF^ ^ F^ [fd;^ e^ KZF``e^ ]aF]]e Z\fFbUe^ ^ `Pe_aR^ ?6H^ [d\R^ Y_d[R^ [fTRW ]FbUe^ e`[Zb^ _fbTfd^ fbaF_XF\fd^ d^ Z`aFQ _fd_FW^ fb^ KZF``d^ ]aF]]d^ [dbaF]ad^ ]FbQ aFb\d^ `F^ Ye_af^ F^ Y_dTTF\Fb\d^ ]Z``e \f]Yd]fUfdbF^\F``PeXXfbf]a_eUfdbF^VfZ\fQ Ufe_fe^ d^ ]Z``e^ Sf]]eUfdbF^ \f^ Zbe^ bZdTe TFb\faeR 9JP^J@@B c 9f^bdb^\f]Yd__FW^e``d^]aeadW^`e^]d]afaZQ UfdbF^\F`^[Z]ad\F^YF_^`F^XdafTeUfdbf^fbQ bebUf^F]Y_F]]FR B19NEJ c J`^\FOfad_F^\f^Y_F]Fbae_F^f`^[dbad^\f^VFQ ]afdbFW^F"^e_aaR^?-A^F^?64^[Y[^e^Se_^\eae \e`^ YfVbd_eXFbadW^ Fba_d^ F^ bdb^ d`a_F^ f` A/RA?R>AHHW^[db^F]Y_F]]d^eTTf]d^[LF^fb [e]d^ \f^ fbdaaFXYF_ebUeW^ `PdXf]]fdbF ]e_M^Te`Zaeae^ef^Sfbf^\F``PFTFbaZe`F^bdQ

)* Xfbe^\f^Zb^[Z]ad\F^F]aF_bdR DeXFUfe^@F_XF^>/RHAR>AH> A_g4dV]dZfg]f__9fYfZVRdc`fg *7:; :77*118;+!9)9; :69178 CCCCC *NNdZdcg>YfZVRdc`dg AUUcOd_deadg6\>\g`\gFFBSWTW J55N=B^9N^5GE9N@J^ *GEN^N++B*NDN^.N0EB1J@N =N^1GE9G^EB@B^C G ND^0N,9NCG^9GDD3G=GC,%NBEN EF``e^Y_d[F\Z_e^F]F[ZafTe^fXXdOf`fe_F^1RGR bR^ ::2>AHA^ [db^ d_\fbebUe^ FXF]]e^ `P HHRHAR>AH>W^Y_F]d^eaad^\F``3f]aebUe^\f^TFb\fae Sd_XZ`eae^\e`^[_F\fad_F^Y_d[F\FbaFW^Le^\f]YdQ ]ad^e``F^]aF]]F^[db\fUfdbf^\F``e^Y_F[F\FbaF d_\fbebUe^ `e^ TFb\fae^ [deaafTe^ \Ff^ ]FVZFbaf OFbf) ):77:;'5:;Q^ Xdf`egXacXadf^=g]dg^faaf`cgf]dL NdZeOd_fg]dgU?gQ\THWgZc`gYcJaeY^e`^f ZeXe``c`fg e]dOd^cg eg ]fXcYd^cg e_ Xde`cg^faaegfge]gVNNdZdge_gXadUcgXde`c[ ZcY^aVd^cgeOVYdJeUf`^fgfg`c`gYe`eL Od_fgVaOe`dY^dZeUf`^f[gYd^cgd`g_cZe_d^= %ca^f__eg]f_gEcUV`fg]dg4dRRfade\gA_gZeL Xe``c`fg-gZf`Yd^cge_g:E>*ge_gNcP_dc QH[gX\__egGTW[gZe^fP\gEBSg]dgU?\gSWKDgd_ ^faaf`cg-gZf`Yd^cg`f_g:E;ge_gNcP_dcgQH[ X\__fgTKQS[TKQQ[TKQK\gAgZcY^dg]dg]fUcL _dRdc`fg]f_gZeXe``c`fgYc`cgPd=gY^e^d Zc`Yd]fae^dg`f__eg]f^faUd`eRdc`fg]f_ XafRRcg]dgY^dUe D ):77:;!'9; /?Vc^egXeadge]g g]f__egXacXadf^= ]dgNc`]cgePadZc_cgd`gePacg]dg4dRRfade[ _cZe_d^=g4Vea]dc_eg]cdgI\FFWgU?\gA`^fL afYYe^cg ]eg YUc^^eUf`^dg f]g d`g Xea^f Zc_^dJe^cge]gV_dJf^cDgZf`Yd^cg`f_g:E; e_g NcP_dcg SK[g X\__f THS[KTS[KTQ[KTM[KTG.[ c _f`FTead^[LF^d[[d__F^Sf]]e_F^f^aF_Xfbf^YF_ `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^ ]FbUe^ fb[ebadW^ `e^ ]Z[[F]]fTe Z\fFbUe^YF_^`3F]eXF^\F``F^]aF]]F^FW^YF_ f`^ [e]d^ fb^ [Zf^ bdb^ eOOfe^ YF_^ KZe`]fe]f XdafTd^`ZdVd^`e^TFb\fae^]FbUe^fb[ebadW Sfb^\3d_e^`e^\eae^YF_^V`f^fb[ebafI^FTf\FbQ UfeadW^KZebad^e``e^TFb\fae^]FbUe^fb[ebad [LF) c [fe][Zb^dSSF_FbaF^ef^]Fb]f^\F``Pe_aR^?7H [dXXe^ H^ [RYR[RW^ a_ebbF^ f`^ \FOfad_FW^ ; eXXF]]d^e^Sd_XZ`e_F^dSSF_aF^YF_^`3e[Q KZf]ad^YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_dQ [Z_ead_F^`FVe`F^eb[LF^e^bd_Xe^\F``3e_a ?76W^^[dXXe^4^[RYR[R8f`^Y_d[Z_ead_F^`FQ Ve`F^\dT_MW^fb^dVbf^[e]dW^F]]F_F^XZbfad \f^Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW bdb^F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^XebQ \ead^e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbe^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXeH [RYR[R<^Y_F]Fbaeb\d^Y_F]]d^`e^Ceb[F``FQ _fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_fW^\f[LfeQ _eUfdbFW^ fb^ _FVd`e^ [db^ f`^ Od``dW [dbaFbFbaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\fQ [eUfdbF^\F`^bZXF_d^\f^_RVRFR^\F``e^Y_dQ [F\Z_eW^\F`^OFbF^F^\F`^`daad<^[Zf^`PdSSF_ae ]f^_fSF_f][FW^\F`^Y_FUUdW^\F`^aFXYdW^\F` Xd\d^\F`^YeVeXFbad^F^\f^dVbf^e`a_d^F`FQ XFbad^Zaf`F^e``e^Te`ZaeUfdbF^\F``3dSSF_aeI c \Faae^\f[Lfe_eUfdbF^\FTFW^e`a_F] W^_F[e_F `F^ VFbF_e`faM^ \F``PdSSF_FbaF^ 8bdXFW^ [dQ VbdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F Sf][e`FW^_F]f\FbUe2\dXf[f`fdW^]aead^[fTf`F FW^]F^[dbfZVeadW^_FVfXF^Yea_fXdbfe`F^S_e [dbfZVfI^fb^[e]d^\f^[dXZbfdbF^`FVe`F^\Ff OFbfW^d[[d__F_M^fb\f[e_F^eb[LF^`F^VFbFQ _e`faM^\F`^[dbfZVF^bdb^dSSF_FbaFW^e`^SfbF \f^ YdaF_^ a_e]SF_f_F^ e\^ Fba_eXOfW^ Y_d KZdaeW^ f`^ OFbFW^ fb^ [e]d^ \f^ eVVfZ\f[eQ UfdbFI^ c bF``PfYdaF]f^ \f^ e[KZf]ad^ e^ afad`d^ YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^(R^[d\R[fTRW KZF``e^^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXe^F\^F]]F_F^[d__F\eae^\e [dYfe^ \f^ Te`f\d^ \d[ZXFbad^ \f^ f\FbafaM \F``PdSSF_FbaF^FW^]F^bF[F]]e_fdW^\e^Te`f\e \d[ZXFbaeUfdbF^[dXY_dTebaF^f^YdaF_f^d `e^ `FVfaafXeUfdbF^ \F``d^ ]aF]]d^ 8^ e\^ F]R Y_d[Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F fb^[e]d^\f^]d[fFaM<I c `PdSSF_aeW^bF`^[e]d^\f^^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ

UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI c fb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^ c [d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f^Sd_Q XZ`e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF c `PdSSF_aeI c `3dSSF_ae^;^f__FTd[eOf`FW^]e`Td^[LF)^ *;f`^VfZ\f[F^d_\fbf^`3fb[ebadI^ * ]febd^\F[d_]f^[FbadTFbaf^Vfd_bf^\e``e ]Ze^Y_F]FbaeUfdbF^F^`e^]aF]]e^bdb^]fe ]aeae^e[[d`aeI c `3dSSF_ae^bdb^;^FSSf[e[F)^ ]F^YF_TfFbF^d`a_F^f`^aF_XfbF^]aeOf`fadI^ ;]F^;^fbSF_fd_F^e`^Y_FUUd^\FaF_Xfbead e^bd_Xe^\F``3e_af[d`d^?-:^F^Yf&^]dY_e^_fQ [d_\eadI^ $ ]F^`3dSSF_FbaF^^bdb^Y_F]ae^[eZUfdbFW^e XFUUd^\f^e]]FVbd^[f_[d`e_F^bdb^a_e]SFQ _fOf`F^fbaF]aead^e^ .d]aF^Nae`febF c ]Ye W^fb^Xf]Z_e^bdb^fbSF_fd_F^e`^\F[fXd \F`^Y_FUUd^\e^`Zf^Y_dYd]adI c e``3dSSF_aeW^ \e^ \FYd]fae_]f^ fb^ OZ]ae [LfZ]eW^]FbUe^]FVbf^\f^_f[dbd][fXFbadW \FTF^F]]F_F^e``FVead^`3e]]FVbd^[f_[d`e_F YF_^`e^[eZUfdbFW^[dXF^fbbebUf^fb\f[eadI e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW [Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `3F]eXF^ \F``F^ dSQ SF_aFI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``3Z\fFbUe^Sf]]eae^YF_^`3F]eXF^\F``F^dSQ SF_aFW^e``e^Y_F]FbUe^\FV`f^dSSF_FbafW^dTF [dXYe_]fI^bF`^[e]d^\f^Xeb[eae^[dXYeQ _fUfdbF^ \F``PdSSF_FbaF^ d^ \FV`f^ dSSF_FbafW `PeVVfZ\f[eUfdbF^]e_M^[dXZbKZF^\f]YdQ ]aeW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F``F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?7>W^[dXXf^>^F^4 [RYR[R^fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_dQ [F\F_M^ e^ Ve_e^ ]Z``PdSSF_ae^ Yf&^ e`ae^ ]FQ [db\d^f`^]f]aFXe^\F``F^][LF\F^d^OZ]aF ]FV_FaFW^Seaae^]e`Te^`PeYY`f[eUfdbF^\F`Q `Pe_aR^?74W^[dXXe^>^[RYR[R c fb^e`aF_beafTe^e``F^Xd\e`faM^\f^[Zf^]dY_eW `e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^\f^e[KZfQ ]ad^YZ ^eTTFbf_F^XF\febaF^`Pe[[_F\fadW^e XFUUd^\f^OdbfSf[d^d^\FYd]fad^]Z^[dbad Yd]ae`F^d^Oeb[e_fd^fbaF]aead^e`e^Y_d[FQ \Z_e^F]F[ZafTe^F\^e[[F]d^d^\e^e[[FbQ \F_]fW^ bF`^ ]F[db\d^ [e]dW^ Y_F]]d^ f` $+dbaF^\Ff^.e][Lf^\f^=fFbe^=RYRJR#^ ^SfQ `fe`F^\f^DeXFUfe^@F_XFW^\f^Zbe^]dXXe Ye_f^e\^Zb^\F[fXd^\F`^Y_FUUd^[LF^]f^fbQ aFb\F^dSS_f_F^F^XF\febaF^`e^[dXZbf[eQ UfdbFW^ e^ XFUUd^ aF`FSe"^ d^ Yd]ae F`Faa_dbf[eW^bF`^_f]YFaad^\F``e^bd_XeafTeW eb[LF^ _FVd`eXFbae_FW^ [db[F_bFbaF^ `e ]daad][_fUfdbFW^`e^a_e]Xf]]fdbF^F^`e^_f[FQ UfdbF^\Ff^\d[ZXFbaf^fbSd_Xeaf[f^F^aF`FQ a_e]XF]]fW^ \f^ Zbe^ \f[Lfe_eUfdbF [dbaFbFbaF^ `F^ fb\f[eUfdbf^ \f^ [Zf^ e``d ]aF]]d^e_aR^?7H^[RYR[RI^ c \Faad^e[[_F\fad^\FTF^eTF_F^`ZdVd^bdb d`a_F^[fbKZF^Vfd_bf^Y_fXe^\F``e^][e\FbUe \F`^aF_XfbF^Fba_d^f`^KZe`F^Yd]]dbd^F]Q ]F_F^Y_dYd]aF^`F^dSSF_aF^\Pe[KZf]adI^Sfb \d_e^]f^Y_FTF\F^[LFW^KZeb\d^`PdSSF_ae^; Y_F]Fbaeae^[db^`F^Xd\e`faM^e`aF_beafTFW f`^aF_XfbF^\f^TF_]eXFbad^\F`^Y_FUUd^F^\f dVbf^e`a_e^]dXXe^;^\f^bdTebae^Vfd_bfI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^$J*N#^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fI^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e`Q `PfbfUfeafTe^ YF_^ f`^ @_fOZbe`F^ \f^ DeXFUfe @F_XF^;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``FQ _feI c FTf\FbUfeadW^KZebad^e``3FTFbaZe`FW^]Z[Q [F]]fTe^TFb\fae^eV`f^fb[ebafW^[LF) c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;\f^fVac TIT\TQT[FFD KZebad^e`^`daad^HW^F^\f^fVac F\KSW[HQ KZebad^e`^`daad^>I c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e`^M#D c dVbZbdW^ef^]Fb]f^\F``Pe_aR?76W^[dXXe^HW [RYR[R^a_ebbF^f`^\FOfad_FW^;^eXXF]]d^e Sd_XZ`e_F^ dSSF_aF^ e``Pfb[ebad^ YF_]dbe`Q XFbaF^W^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^ `fafI^ bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR ?76W^[dXXe^4W^f`^Xeb\ead^]YF[fe`F^_fQ ]Z`aebaF^\e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fQ

c

c

c c c c c

c

c

c

c

c

c

Teae^eZaFbaf[eae^\dT_M^F]]F_F^\FYd]fQ aead^[dbaF]aZe`XFbaF^e``e^\f[Lfe_eUfdbF \F`^bdXfbeafTd^\F``e^YF_]dbe^\e^FSSFaQ aZe_]f^ bF`^ aF_XfbF^ \f^ [Zf^ e``Pe_aR^ ?:4W [dXXe^H^[RYR[R< dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``3fb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`3f]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVf<I^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI^bF``PfYdaF]f^\f^e[KZfQ ]ad^e^afad`d^YF_]dbe`F^\e^Ye_aF^\f^Zb^[dQ bfZVF^fb^_FVfXF^\f^[dXZbfdbF^\Ff^OFbfW d[[d__F^ Y_d\Z__FW^ d`a_F^ e``e^ \f[Lfe_eQ UfdbF^ \f^ KZF]aPZ`afXdW^ F"^ e_aR^ H76W [dXXe^HW^`FaaR^(R^[d\R[fTRW^KZF``e^^\F`^[dQ bfZVF^bdb^e[KZf_FbaF^\f^[Zf^e`^]F[db\d [dXXe^ \F``e^ XF\F]fXe^ \f]Yd]fUfdbF bd_XeafTe<W^`PF]Y_F]]e^\f[Lfe_eUfdbF^\f eTF_^Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR `Pf]aebUeW^bF`^[e]d^\f^^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^e``FVe_F fb^[dYfe^[dbSd_XFI fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf [LF^eOOfe^`PF][`Z]fTe^Se[d`aM^\f^Sd_XZQ `e_F^FTFbaZe`f^dSSF_aF^fb^eZXFbadI bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF `Pf]aebUeI^e``3f]aebUe^\f^Ye_aF[fYeUfdbF \FTF^F]]F_F^e``FVeae^[dYfe^\f^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^\F` [db[d__FbaF^ FW^ ]F^ bF[F]]e_fdW^ Te`f\e \d[ZXFbaeUfdbF^[dXY_dTebaF^f^YdaF_f^d `e^ `FVfaafXeUfdbF^ \F``d^ ]aF]]d^ 8e\^ F]R Y_d[Z_e^]YF[fe`F^d^[F_afSf[ead^[eXF_e`F<I [db^`3f]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ ]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^ .d]aF^Nae`febF^]RYReR W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\3e]ae) e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI^ `F^ OZ]aF^ ]e_ebbd^ eYF_aF e``PZ\fFbUe^]aeOf`fae^e``e^Y_F]FbUe^\FV`f f]aebafW`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^ e^Xeb[eae^Ye_aF[fYeUfdbF^e``Pfb[ebadW YF_]dbe`XFbaF^d^e^XFUUd^\f^Y_d[Z_eQ ad_F^]YF[fe`FW^]FbUe^\d[ZXFbaead^F^VfZQ ]afSf[ead^ XdafTdW^ [dXYd_aF_M `Pfb[eXF_eXFbad^\f^H2HA^\F``e^[eZUfdbFW [LFW^\f^[dbadW^]e_M^fXXF\feaeXFbaF^_FQ ]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``Pfb[ebadW dTF^`PdSSF_FbaFW^_FVd`e_XFbaF^Y_F]FbaFW bdb^\fTFbVe^eVVfZ\f[eae_fdI^bF`^[e]d^\f Zbe^]d`e^f]aebUe^\f^Ye_aF[fYeUfdbFW^d[Q [d__F_M^[dXZbKZF^eYYd_ae_F^Zb^_fe`Ud XfbfXdW^F"^e_aR^?:HW^[dXXe^>W^YF_^[dbQ ]FVZf_F^`PeVVfZ\f[eUfdbF^Y_dTTf]d_feR bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTTFQ bZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_F]FbQ aeaF^dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e^Ve_eW^Xe F]]F^bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSQ SF_ad^bdb^]ZYF_e^\f^H2?^KZF``d^_eVVfZbad bF``Pfb[ebadI^`PeVVfZ\f[eUfdbFW^YF_aebad \fTF__M^ \FSfbfafTe^ dTFW^ \F[d_]f^ \fF[f Vfd_bfW^ bdb^ ]febd^ ]aeaF^ Y_F]FbaeaF^ dSQ SF_aF^fb^eZXFbadI ae`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`e^Ceb[F``F_feW^bF``F^Sd_XF^\f^[Zf e``Pe_aR^ ?7H^ [RYR[R^ Y_F]aeb\d^ [eZUfdbF YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd^\F``e^[eZQ UfdbF^TF_]eae^YF_^`e^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f dSSF_aFW^TF__M^fb\Faae^Zbe^Ve_e^]F[db\d `F^Y_FTf]fdbf^\f^[Zf^e^bd_Xe^\F``Pe_aR^?:/ [RYR[RR^ =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4^[RYR[R^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ


bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^\d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFI^ c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^e`^Y_dad[d``d^$J*N#^YF_ `e^[db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eQ ae_fI^`PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e`Q `PfbfUfeafTe^ YF_^ f`^ @_fOZbe`F^ \f^ DeXFUfe @F_XF^;^_FYF_fOf`F^Y_F]]d^`e^Ceb[F``FQ _feI (N==J^DJ^5GE9N@J^CBE^NECJE@B^ c YF_^`e^Y_F]FbaeUfdbF^Y_F]]d^`e^Ceb[F`Q `F_fe^\F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F``F f]aebUF^\f^Ye_aF[fYeUfdbF^e``e^TFb\fae^ef YZOO`f[f^fb[ebaf^\F`^[dXYFb\fd^fXXdOfQ `fe_F^]dY_e^fb\f[ead^F^XFV`fd^\F][_faad bF``e^_F`eUfdbF^\F``PF]YF_ad^fb^eaafW^e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _f[LfeXdW^ KZe`F Ye_aF^fbaFV_ebaF^F^]d]aebUfe`F^\F``e^Y_FQ ]FbaF^d_\fbebUeW^^faUd`fgNd`cge__fgcaf TQ\WWg ]f_g Pdca`cg WM\WS\SWTQ[g Zc`g _f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b Xfagd_gPdca`cgWH\WS\SWTQ[gcafgI\QWgf YfPP\[g_egJf`]d^egedgXVOO_dZdgd`Ze`^d ]f_gZcUXf`]dcgdUUcOd_deafgYcXaegd`L ]dZe^cgZc`g_fgUc]e_d^=gfgXfagd_gXafRRc OeYfg]dgZVdgd``e`RdD =@J*NDN=CGW^JD@1G= W^C G^DJ^5GE9N@J^ J55NGEG^JDDG^=G0,GE@N^CBE9N%NBENW) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``3F]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI^`e^TFbQ \fae^Sd_Ueae^bdb^;^]dVVFaae^e``F^bd_XF [db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf^d^XebQ [ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F^_FTdQ [eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `3F]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``3ebbd^fb^[d_]d^F \F``3ebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI c `3eVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^-A^Vfd_bf \e``e^ \eae^ \f^ eVVfZ\f[eUfdbF^ ]Z^ Zb^ `fQ O_Faad^Yd]ae`F^\f^\FYd]fad^VfZ\fUfe_fd^fbQ aF]aead^e`^\FOfad_F^F^_F[ebaF^f`^bZXF_d \F``e^ Y_F]FbaF^ Y_d[F\Z_e^ F]F[ZafTe^ 8 KZe`d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_FQ \fad^Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbQ aFb\e^ eTTe`F_]f^ \F``e^ Se[d`aM^ \f ]ZOFba_e_F^bF`^[dba_eaadW^e``Pe]]FVbd^[f_Q [d`e_F^]e_M^]d]afaZfadW^F"^e_aR^/HW^[dXXe /^9RDV]R^H^]FaaFXO_F^H664W^bR^4:?W^f`^YeQ VeXFbad^\f_Faad^\F``e^Oeb[e^[_F\fa_f[FW bFf^`fXfaf^\F`^[_F\fad^eUfdbead^YF_^[eYfQ ae`FW^fbaF_F]]f^F^]YF]F^bF``e^Xf]Z_e^[LF ]e_M^fb\f[eae^\e`^VRFR<I^fb^Xeb[ebUeW^]f Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\F[e\FbUe \e``PeVVfZ\f[eUfdbFW^ e^ bd_Xe^ \F``Pe_aR ?:7^[RYR[RI^^ c ]d`aebad^e``3F]fad^\FV`f^e\FXYfXFbaf^Y_FQ [F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_beaf [F_afSf[eaf^[eae]ae`f^F^\f^eVVfd_beaf^[F_afSfQ [eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fUfdbf FSSFaaZeaF^ ]Z`^ OFbF^ bdb[L'^ \F`^ YeVeQ XFbad^\F``F^]YF]F^\f^a_e]SF_fXFbad^\e Ye_aF^\F``3eVVfZ\f[eae_fdW^YF_^[dXF^`fKZfQ \eaF^\e``e^Ceb[F``F_feW^]e_M^FXF]]d^f` \F[_Fad^ \f^ a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F`Q `3e_aR^?:-^[RYR[RI 9N=.BEGW^ ,JE@B^JDDJ^.,**DNCN@ ^ NE^(,E%NBEG^9GDDJ^5GE9N@JW^C G) c ]Z^fXYZ`]d^\F`^Y_d[F\FbaFW^]fe^Y_F\fQ ]Yd]ad^`3eTTf]d^\f^TFb\faeW^\e^YZOO`f[e_F e``3e`Od^\F``3,SSf[fdI c e^[Z_eW^_f][Lfd^F^]YF]F^8_fXOd_]eOf`f^F" e_aR^>77A^[d\R^[fTR<^\F`^XF\F]fXd^]dVQ VFaadW^]fe^\eae^YZOO`f[faM^ c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^]Z \f^Zb^KZdaf\febd^\f^fbSd_XeUfdbF^e^\fSSZQ ]fdbF^`d[e`F^e^][F`ae^\F`^[_F\fad_FW^YZOQ

)( O`f[faM^\e^FSSFaaZe_]f^e`XFbd^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``Pfb[ebadI^fb^dVbf^[e]dW^YF_^Zbe^]d`e Td`aeW^\F``e^Y_F]FbaF^d_\fbebUeW^F][`Z]F `F^bdaFW^]Z``e^_fTf]ae^YF_fd\f[e^ J]aF^NbSd JYYe`af W^YZOO`f[faM^\e^FSSFaaZe_]f^e`XFbd KZe_ebae[fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF YF_^`e^Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e \eae^\F``3fb[ebadI^ c fb^dVbf^[e]dW^YF_^Zbe^]d`e^Td`aeW^\F``e Y_F]FbaF^d_\fbebUeW^F][`Z]F^`F^bdaFW^F \F``e^_F`eUfdbF^\f^]afXe^\F``3F]YF_ad^^]Z` ]fad^NbaF_bFa^fb\fTf\Zead^ef^]Fb]f^\F``Pe_aR H74^aF_^\f]YReaaR^[RYR[R^\f^[Zf^;^\eae^bdafQ Ufe^fb^Ceb[F``F_feW^^e`XFbd^KZe_ebae[fbQ KZF^ Vfd_bf^ Y_fXe^ \F`^ aF_XfbF^ YF_^ `e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``3fb[ebad3W c f`^[_F\fad_F^Y_d[F\FbaF^Yd]]eW^fbd`a_FW \e_F^ YZOO`f[faM^ \F``e^ Y_F]FbaF^ d_\fQ bebUeW^e^]Ze^[Z_e^F\^dTF^`d^_faFbVe^dYQ Yd_aZbd)^ e^ ]ZF^ ]YF]F^ 8_fXOd_]eOf`f^ F" e_aR^>77A^[d\R^[fTR<W^[db^YZOO`f[faM^XZQ _e_feW^\e^FSSFaaZe_]f^bFf^CdXZbf^\f^DeXFQ Ufe^ @F_XF^ F^ \f^ ZOf[eUfdbF^ \FV`f fXXdOf`fW^e`XFbd^KZe_ebae[fbKZF^Vfd_bf Y_fXe^\F`^aF_XfbF^YF_^`e^Y_F]FbaeUfdbF \F``F^dSSF_aF^d^\F``e^\eae^\F``3fb[ebadI c e^]ZF^]YF]F^8bdb^_fXOd_]eOf`f^bFYYZ_F F"^e_aR^>77A^[d\R^[fTR<W^e\^Zb3Z`aF_fd_F Sd_Xe^\f^YZOO`f[faM^\e`^XF\F]fXd^Y_FQ ][F`aeW^\e^F]FVZf_]f^e`XFbd^KZe_ebaeQ [fbKZF^Vfd_bf^Y_fXe^\F`^aF_XfbF^YF_^`e Y_F]FbaeUfdbF^\F``F^dSSF_aF^d^\F``e^\eae \F``3fb[ebadI c `e^YZOO`f[faM^XZ_e_fe^F^`3Z`aF_fd_F^YZOO`fQ [faM^Y_F][F`ae^]dbd^\f[Lfe_eaF^]fb^\3d_e bdb^ bF[F]]e_fF^ ef^ Sfbf^ \F``3F]YF_fOf`faM \F``e^TFb\faeI c \F``e^Y_dTe^\F``e^YZOO`f[faM^F`Faa_dbf[e F^e^XFUUd^]aeXYe^ ^\e^\FYd]fae_]f^fb [eb[F``F_fe^ e`XFbd^ \fF[f^ Vfd_bf^ Y_fXe \F``F^TFb\faF^Q^]fe^Seaad^[e_f[d^e`^[_F\fQ ad_F^Y_d[F\FbaF^d^]Z__dVebaFI J55G1@G c Sfb^\3d_e^`F^Ye_af^[LFW^dTF^e``3Z\fFbUe^Sf]Q ]eae^ YF_^ `e^ [F`FO_eUfdbF^ \F``3fb[ebadW KZF]ad^bdb^eOOfe^`ZdVd^YF_^KZe`ZbKZF XdafTdW^]f^_f]F_Te^\f^eYY`f[e_F^fXXF\feQ aeXFbaF^ Q^ F^ [fd;^ e^ KZF``e^ ]aF]]e Z\fFbUe^Q^`3e_af[d`d^?6H^[d\R^Y_d[R^[fTRW ]FbUe^ e`[Zb^ _fbTfd^ fbaF_XF\fd^ d^ Z`aFQ _fd_FW^ fb^ KZF``d^ ]aF]]d^ [dbaF]ad^ ]FbQ aFb\d^ `F^ Ye_af^ F^ Y_dTTF\Fb\d^ ]Z``e \f]Yd]fUfdbF^\F``3eXXfbf]a_eUfdbF^VfZ\fQ Ufe_fe^ d^ ]Z``e^ Sf]]eUfdbF^ \f^ Zbe^ bZdTe TFb\faeR^ DeXFUfe^@F_XF^HHRHARH>^ A_g4dV]dZfg]f__9fYfZVRdc`fg !:77*118;+!9)9; :69178* CCCCC ,((NCNB^G=GC,%NBEN^N++B*NDNJ1N J55N=B^9N^5GE9N@J^ 9N^*GEN^N++B*NDN^.N0EB1J@N G ^J1@R^?-6^CB++J^4^C.C =N^1GE9G^EB@B^C G CLF^f`^0fZ\f[F^\F``PG]F[ZUfdbFW^ bF``e^XacZf]VaegfYfZV^dJeg dUUcOd_deafg`7gQBIGg6\4\>\ [db^ d_\fbebUe^ FXF]]e^ e``PZ\fFbUe^ \F` H7RHAR>AH>^ Le^ \f]Yd]ad^ `e^ TFb\fae^ [db^ fbQ [ebad^\F`^Y_fXd^`daad^bF``d^]aead^\f^Seaad^F^\f \f_faad^ fb^ [Zf^ ]f^ a_dTe^ YF_^ `PZ\fFbUe^ \F` H4RA>R>AH4 # " 3;-3003/ `7gTgeXXea^eUf`^c[gd`gV` f]dNdZdcg]dgUePPdcafgZc`YdY^f`Re[gYd^c e_g^faRcgXde`cgNVcadg^faae[gZc`gYcXaeL Y^e`^fgZcXfa^VaegXde`e[gZcUXcY^cg]e SgJe`dgfgeZZfYYcad[gd`g_cZe_d^=g4d`fXad eg 8eUfRdeg ;faUfg 2f"g EcUV`fg ]dg 1\ >VNfUdeg8eUfRde5[g]dY^d`^cgZc`g_9d`L

^fa`cg TKg YZe_eg /).DLg d]f`^dNdZe^cg d` Ee^eY^cg e_g NcP_dcg ]dg UeXXeg SQg X\__e SFIgYVOgTWSg1fRdc`fgEf`Ycadeg]dg1\ >VNfUde[gd`gZcaYcg]dgZcY^aVRdc`fDLgYVL XfaNdZdfg ZcUUfaZde_f[g Xeadg eg U? KG[SW\g #6944:;.819;! 8178;fVacgF\MWW[WW =N^1GE9G^JECB1J^EB@B^C G^ND^0G^ J =@J*NDN@B^C G^DJ^5GE9N@J^J55NGEG JDDG^=G0,GE@N^CBE9N%NBEN) ^5GE9N@J^CBE^NECJE@B)^ c F]]e^\FTF^eTF_^`ZdVd^e`^ 6944:;.819 \f fVacgF\MWW[WWggYF_^f`^`daad^Y_fXdI c `F^:%%9679;25;8'&957: e^YFbe^\f^fbeXQ Xf]]fOf`faMW^bdb^\FTdbd^F]]F_F^fbSF_fd_f e\^ Q#g ]f_g XafRRcg XcY^cg eg OeYf ]9eY^eD c dVbZbdW^ef^]Fb]f^\F``Pe_aR^?76W^[dXXe HW^[RYR[RW^a_ebbF^f`^\FOfad_FW^;^eXXF]]d e^Sd_XZ`e_F^dSSF_aF^e``Pfb[ebad^YF_]dbe`Q XFbaFW^e^XFUUd^\f^Xeb\eae_fd^XZbfad \f^Y_d[Z_e^]YF[fe`F^d^\f^Y_d[Z_ead_F^`FQ Ve`FW^ eb[LF^ e^ bd_Xe^ \F``Pe_aR^ ?76W [dXXe^ 4W^ [RYR[R^ 8f`^ Y_d[Z_ead_F^ `FVe`F \dT_MW^ fb^ dVbf^ [e]dW^ F]]F_F^ XZbfad^ \f Xeb\ead^]YF[fe`F^_f]Z`aebaF^\e^eaad^YZOQ O`f[d^d^][_faaZ_e^Y_fTeae^eZaFbaf[eaeW^bdb F]]Fb\d^]ZSSf[fFbaF^`Pd_\fbe_fd^Xeb\ead e``F^`fafI^ c bF``PfYdaF]f^ \f^ [Zf^ e`^ [faead^ e_aR^ ?76W [dXXe^4W^f`^Xeb\ead^]YF[fe`F^_f]Z`aebaF \e^eaad^YZOO`f[d^d^][_faaZ_e^Y_fTeae^eZQ aFbaf[eae^\dT_M^F]]F_F^\FYd]faead^[dbQ aF]aZe`XFbaF^ e``e^ \f[Lfe_eUfdbF^ \F` bdXfbeafTd^\F``e^YF_]dbeW^\e^FSSFaaZe_]f bF`^aF_XfbF^\f^[Zf^e``Pe_aR^?:4W^[dXXe^HW [RYR[R< c dVbf^[db[d__FbaFW^YF_^F]]F_F^eXXF]]d e``Pfb[ebadW^\FTF^Y_F]Fbae_F^f]aebUe^\f Ye_aF[fYeUfdbFW^fb^_FVd`e^[db^f`^Od``dW^_FQ [ebaFW^e^YFbe^\f^fbFSSf[e[feW^`3fb\f[eUfdbF \F`^bZXF_d^\f^_RVRFR^\F``e^Y_d[F\Z_eW^f` OFbF^d^f`^`daad^[Zf^`Pf]aebUe^]aF]]e^;^_fSFQ _faeW^f`^Y_FUUd^Y_dYd]adW^`F^Y_dY_fF^VFbFQ _e`faM^8bdXFW^[dVbdXFW^`ZdVd^F^\eae^\f be][faeW^[d\f[F^Sf][e`FW^_F]f\FbUe2\dXfQ [f`fdW^]aead^[fTf`F^FW^]F^[dbfZVeadW^_FVfXF Yea_fXdbfe`F^S_e^f^[dbfZVfI^fb^[e]d^\f^[dQ XZbfdbF^`FVe`F^\Ff^OFbfW^d[[d__F_M^fb\fQ [e_F^ eb[LF^ `F^ VFbF_e`faM^ \F`^ [dbfZVF bdb^dSSF_FbaFW^e`^SfbF^\f^YdaF_^a_e]SF_f_F e\^Fba_eXOfW^Y_d^KZdaeW^f`^OFbFW^fb^[e]d \f^eVVfZ\f[eUfdbFI c bF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aR^H76W^[dXXe^HW^`FaaR^SW^[d\R^[fTRW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^]F[db\d^[dXXe^\F``e^XF\F]fXe^\fQ ]Yd]fUfdbF^ bd_XeafTe<W^ `PF]Y_F]]e^ \fQ [Lfe_eUfdbF^\f^eTF_^Y_F]d^Tf]fdbF^\F``e YF_fUfe^\f^]afXeI c `Pf]aebUeW^bF`^[e]d^\f^Y_F]FbaeUfdbF^\e Ye_aF^ \f^ Zb^ Xfbd_FbbFW^ \dT_M^ F]]F_F ]daad][_faae^\ef^VFbfad_fW^Y_FTfe^eZad_fUQ UeUfdbF^\F`^VfZ\f[F^aZaF`e_FW^\e^\FYd]fQ ae_F^fb^[dYfe^[dbSd_XFI c fb^[e]d^\f^f]aebUe^Y_F]Fbaeae^[dbVfZbQ aeXFbaF^\e^Yf&^]dVVFaafW^\FTF^F]]F_F^fbQ \f[ead^[d`Zf^[LF^eOOfe^`PF][`Z]fTe^Se[d`aM \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSSF_aF^ fb^ eZQ XFbadI c bdb^]e_M^Yd]]fOf`F^a_e]SF_f_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`Pf]aebUeI c e``Pf]aebUe^\f^Ye_aF[fYeUfdbF^\FTF^F]Q ]F_F^e``FVeae^[dYfe^\f^Te`f\d^\d[ZXFbad \f^f\FbafaM^\F`^[db[d__FbaF^FW^]F^bF[F]Q ]e_fdW^Te`f\e^\d[ZXFbaeUfdbF^[dXY_dQ TebaF^f^YdaF_f^d^`e^`FVfaafXeUfdbF^\F``d ]aF]]d^8e\^F]R^Y_d[Z_e^]YF[fe`F^d^[F_afQ Sf[ead^[eXF_e`F^fb^[e]d^\f^]d[fFaM<I c [db^`Pf]aebUe^\f^Ye_aF[fYeUfdbFW^\e^Y_FQ

]Fbae_]f^fb^OZ]ae^[LfZ]eW^]FbUe^]FVbf^\f _f[dbd][fXFbadW^\FTF^F]]F_F^\FYd]faead e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`FW^fbaFQ ]aead^e``F^$.d]aF^Nae`febF^]RYReR#W^a_eXfaF [Zf^FSSFaaZe_F^f`^TF_]eXFbad^\F``e^[eZQ UfdbF^8F\^fb^[dbad^Y_FUUd^\f^eVVfZ\f[eQ UfdbF<W^ fb^ _eVfdbF^ \f^ Zb^ \F[fXd^ \F` Y_FUUd^Oe]F^\Pe]aeI c e``3F]aF_bd^\F``e^OZ]ae^Tebbd^ebbdaeafW e^[Z_e^\F`^[eb[F``fF_F^_f[FTFbaFW^f`^bdXFW Y_FTfe^ f\FbafSf[eUfdbFW^ \f^ [Lf^ XeaF_fe`Q XFbaF^Y_dTTF\F^e`^\FYd]fadW^f`^bdXF^\F` VfZ\f[F^ \F``3F]F[ZUfdbF^ F^ `e^ \eae^ \F`Q `3Z\fFbUe^ Sf]]eae^ YF_^ `e^ TFb\fae^ e``PfbQ [ebadI c `F^OZ]aF^]e_ebbd^eYF_aF^e``3Z\fFbUe^]aeQ Of`fae^ YF_^ `Pfb[ebad^ e``e^ Y_F]FbUe^ \FV`f f]aebafW^`e^[Zf^[dXYe_fUfdbF^;^bF[F]]e_fe ef^Sfbf^\F``PeVVfZ\f[eUfdbFW^[LF^]e_M^\fQ ]Yd]ae^]F[db\d^`F^Y_F][_fUfdbf^\F``Pe_aR ?:H^[RYR[RI^bF`^[e]d^\f^Zbe^]d`e^f]aebUe \f^Ye_aF[fYeUfdbFW^d[[d__F_M^[dXZbKZF eYYd_ae_F^Zb^_fe`Ud^XfbfXdW^F"^e_aR^?:HW [dXXe^>W^YF_^[db]FVZf_F^`PeVVfZ\f[eQ UfdbF^Y_dTTf]d_feI c e^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^fbSeaafW^eTQ TFbZad^`Pfb[ebadW^Yd]]dbd^F]]F_F^Y_FQ ]FbaeaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^\fF[f^Vfd_bf^\e``e Ve_eW^ Xe^ F]]F^ bdb^ ]dbd^ FSSf[e[f^ ]F^ f` Y_FUUd^dSSF_ad^bdb^]ZYF_e^\f^H2-^KZF``d _eVVfZbad^bF``Pfb[ebadI^ c `PeVVfZ\f[eUfdbFW^YF_aebadW^\fTF__M^\FSfQ bfafTe^ dTFW^ \F[d_]f^ \fF[f^ Vfd_bfW^ bdb ]febd^ ]aeaF^ Y_F]FbaeaF^ dSSF_aF^ fb^ eZQ XFbadI c ae`f^dSSF_aF^]f^Sebbd^e^bd_Xe^\F``Pe_aR^?7H FW^ Y_fXe^ \f^ Y_d[F\F_F^ e``e^ Ve_e^ \f^ [Zf e``Pe_aR^ ?74W^ f`^ Ceb[F``fF_F^ \e^ YZOO`f[d eTTf]d^\F``PdSSF_ae^Yf&^e`ae^e^bd_Xe^\F`Q `Pe_aR^?7A^[RYR[RI^ c fb^dVbf^[e]dW^`F^]YF]F^\F`^a_e]SF_fXFbad [e\dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fdW^[Zf _F]aebd^_f]F_TeaF^`F^eaafTfaM^F\^f^[d]af^YF_ `e^ _FVf]a_eUfdbF^ F^ a_e][_fUfdbF^ \F`^ \FQ [_Fad^bdb[L'^YF_^`e^[eb[F``eUfdbF^\F``F Sd_Xe`faM^Y_FVfZ\fUfFTd`f^V_eTebaf^]ZV`f fXXdOf`f^e[KZf]aeafI c ;^Yd]]fOf`FW^YF_^f^Ye_aF[fYebaf^e``F^e]aFW daaFbF_F^XZaZf^e^ae]]f^F^[db\fUfdbf^F[dQ bdXf[LF^ Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e Oeb[e^e\F_FbaF^Y_dad[d``d^$J*N#^YF_^`e [db[F]]fdbF^\f^XZaZf^eV`f^eVVfZ\f[eae_fI `PF`Fb[d^\F``F^Oeb[LF^e\F_Fbaf^e``PfbfUfeQ afTe^YF_^f`^@_fOZbe`F^\f^DeXFUfe^@F_XF^; _FYF_fOf`F^Y_F]]d^`e^Ceb[F``F_feI^ c ;^Sf]]eadW^YF_^`e^Y_F]FbaeUfdbF^Y_F]]d `e^Ceb[F``F_fe^\F``F^G]F[ZUfdbf^NXXdOfQ `fe_f^\F``F^f]aebUF^\f^Ye_aF[fYeUfdbF^e``e TFb\fae^ef^YZOO`f[f^fb[ebaf^\F`^[dXYFbQ \fd^fXXdOf`fe_F^]dY_e^fb\f[ead^F^XFV`fd \F][_faad^bF``e^_F`eUfdbF^\F``PF]YF_ad^fb eaafW^e``e^KZe`F^]f^Se^F]Y_F]]d^_f[LfeXdW KZe`F^ Ye_aF^ fbaFV_ebaF^ F^ ]d]aebUfe`F \F``e^Y_F]FbaF^d_\fbebUeW^^faUd`fgNd`c e__fgcafgTQ\WWg]f_gTS\WS\SWTQ[gZc`g_f Uc]e_d^=gfgXfagd_gXafRRcgUd`dUcg]dgZVd YcXaeD b -gNdYYe^e[gXfagd_gPdca`cgTQ\WS\SWTQ[caf WI\QWgfgYfPP\[g_egJf`]d^egedgXVOO_dZd d`Ze`^dg ]f_g ZcUXf`]dcg dUUcOd_deaf YcXaegd`]dZe^c[gZc`g_fgUc]e_d^=gfgXfa d_gXafRRcgOeYfg]dgZVdgd``e`RdD DJ^5GE9N@J^J55NGEG^JDDG^=G0,GE@N^ CBE9N%NBENW^=NJ^ ,JDB1J^5N^=N^(JCCNJ^ D,B0B^=GE%J^NECJE@BW^=NJ^ ,JDB1J^ 5N^=N^(JCCNJ^D,B0B^CBE^NECJE@B) c V`f^ fXXdOf`f^ TFbVdbd^ Yd]af^ fb^ TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^[d] ^[dXF^f\FbafSf[eafW^\F][_faaf^F Te`Zaeaf^\e``PF]YF_ad^bF``e^_F`eUfdbFW^[db dVbf^FTFbaZe`F^]F_Tfa&^eaafTe^F^Ye]]fTe fbF_FbaF^F^KZdaF^[db\dXfbfe`f^_F`eafTFI c `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdI c `e^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ Q^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ ^ bdb^ YeVeaF^ \e` \FOfad_F^Q^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfI


c `PeVVfZ\f[eae_fd^\dT_M^TF_]e_F^`e^\fSSFQ _FbUe^\F`^Y_FUUd^8\Fa_eaae^\e`^Y_FUUd^\f eVVfZ\f[eUfdbF^`e^[eZUfdbF^\f^[Zf^]dY_e< Fba_d^Zb^aF_XfbF^Xe]]fXd^\f^]F]]ebae Vfd_bf^\e``e^\eae^\f^eVVfZ\f[eUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e^$.d]aF^Nae`febF^]RYReR#^8KZeQ `d_e^f`^Y_d[F\fXFbad^]f^Sdb\f^]Z^[_F\fad Sdb\fe_fd^F^`PeVVfZ\f[eae_fd^bdb^fbaFb\e eTTe`F_]f^\F``e^Se[d`aM^\f^]ZOFba_e_F^bF` [dba_eaadW^e``Pe]]FVbd^[f_[d`e_F^]e_M^]dQ ]afaZfadW^F"^e_aR^/HW^[dXXe^/W^9RDV]R^H ]FaaFXO_F^H664W^bR^4:?W^f`^YeVeXFbad \f_Faad^e``e^Oeb[e^[_F\fa_f[FW^bFf^`fXfaf^\F` [_F\fad^eUfdbead^YF_^[eYfae`FW^fbaF_F]]f^F ]YF]F^ [db^ [d``d[eUfdbF^ Y_fTf`FVfeaeW Fba_d^`d^]aF]]d^aF_XfbF^F^\Fa_eaad^Zb^e[Q [ebadbeXFbad^YF_^]YF]F^bF``e^Xf]Z_e [LF^ ]e_M^ fb\f[eae^ \e`^ VRFR<I^ fb^ XebQ [ebUeW^]f^Y_dTTF\F_M^e^\f[Lfe_e_F^`e^\FQ [e\FbUe^\e``PeVVfZ\f[eUfdbFW^e^bd_Xe \F``Pe_aR^?:7^[RYR[RI c ]d`aebad^ e``PF]fad^ \FV`f^ e\FXYfXFbaf Y_F[F\FbafW^\F``e^Y_d\ZUfdbF^\f^eVVfd_Q beaf^ [F_afSf[eaf^ [eae]ae`f^ F^ \f^ eVVfd_beaf [F_afSf[eaf^_F`eafTf^e``F^f][_fUfdbf^F^a_e][_fQ Ufdbf^FSSFaaZeaF^]Z`^OFbF^bdb[L'^\F`^YeQ VeXFbad^\F``F^]YF]F^\f^a_e]SF_fXFbadW \e^FSSFaaZe_]f^[dbaF]aZe`XFbaF^e^KZF``d \F``e^\fSSF_FbUe^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbFW^bF``e^Xf]Z_e^\F`^>A ^\f^KZF]aPZ`Q afXdW^ ]e_M^ FXF]]d^ f`^ \F[_Fad^ \f a_e]SF_fXFbadW^ ef^ ]Fb]f^ \F``Pe_aR^ ?:[RYR[RI DeXFUfe^@F_XFW^` ^>/RHAR>AH> A_gNV`Rdc`eadcgPdV]dRdeadc 9.:68 ; 262$: CCCCC J55N=B^9N^5GE9N@J :\TBSWWGg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^ (30+"3; 3003 ; "+(- +;#, ,--+ Y_F]]d^ J==BCNJ%NBEG^EB@J1NDG^.1BCG9,1G^ G=GC,@N5G^9N^DJ+G%NJ^@G1+G .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF bF``e^._d[F\Z_e^G]F[ZafTe bRH2>AA7^1FVR^G]R^NXXR Y_dYd]ae^\e^ *JECJ^EJ%NBEJDG^9GD^DJ5B1B^=RYRJR^^ 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^>:2A?2>AA6 ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[RI Cdb]f\F_ead^[LF^eYYe_F^dYYd_aZbd^_fSf]]e_F bZdTe^ TFb\fae^ [db^ `e^ _f\ZUfdbF^ \F`^ Y_FUUd Oe]F^\f^ ^VfZ]ae^_f[LfF]ae^\F`^[_F\fad_F^fbaF_Q TFbZadI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^fb^\eae QTgPf``edcgSWTQge__fgcafgTW[WW[ bF`^.e`eUUd^\f^0fZ]afUfe^\f^DeXFUfe^@F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^]f^aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F``e YfFbe^Y_dY_fFaM^\Ff^]FVZFbaf^fXXdOf`f) -3003; (" 3 A`g^faad^cadcg]f_gEcUV`fg]d 8eUfRdeg ;faUf[g YfRdc`fg 1\>VNfUde 8eUfRde[g _cZe_d^=g /$aVZe.[g eXXfRReL Uf`^cg]dg^faaf`cgeg]fY^d`eRdc`fgePadL Zc_eg 2Zc_^dJe^cg e]g ePaVUf^cg Zc` dUXde`^cg ]dg daadPeRdc`fg eg XdcPPde5 ]f__eg YVXfaNdZdfg Ze^eY^e_fg ]d !e\TW\SS\TFg2f^^eadg]dfZd[geafgJf`^d]Vf fgZf`^deafg]dZdc^^c5\ 6dXca^e^cg`f_gZcaadYXc`]f`^fgEe^eY^c ;faaf`dgZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXegQQ[gXea^dZf__e, HK[g ePaVUf^cg Z_\V`dZe[g 3e\TW\SS\TF[ af]]\]cU\g <g T\GGI[WH[g af]]\g ePa\g < GTS[HF 1V__eg]d^^egZe^eY^e_fg-gadXca^e^eg_egYfL PVf`^fge``c^eRdc`fg/XacXadf^eadcgfg_dL Jf__eadeg g]dad^^cg]f_gZc`Zf]f`^f.\g A`gOeYfge_gJdPf`^fgY^aVUf`^cgVaOe`dL Y^dZcgJdPf`^fg`f_gZcUV`fg]dg8eUfRde ;faUf[gd_g^faaf`cgeXXf`eg]fYZad^^cgadL Ze]fg d`g Xea^fg d`g /+eYZfg ]dg adYXf^^c ]f__fg Y^ae]fg Nfaae^fg fg ]fP_dg dUXde`^d NfaacJdead.gfgd`gXea^fg/>Q,gePadZc_eg]d XafPdc.\ #6944:;.819/ <gQSG\GTS[MWg8FZ_d^a_F[FbadQ TFbaf]FaaFXf`e]FaaF[Fbad\d\f[f^ Tf_Vd`e^ [fbQ KZebae<R J55N=J^JD@1G= c CLF^bF``F^^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ c eT_M^`ZdVd^`e^TFb\fae^[db^fb[ebad^\Ff

)' XF\F]fXf^ OFbf^ bF``F^ ]FVZFbaf^ \eaF^ F `ZdVLf)^ b TFgNfOOaedcgSWTQge__fgcafgTW[WW[g0eL _eRRcg]dg4dVY^dRdeg]dg8eUfRdeg;faUf[ XdeRReg]f__eg6fXVOO_dZe[gXafYYcgdg_cL Ze_dg]f__9@YYcZdeRdc`f\ -3003; (" 3;#6944:;.819/ <gQSG\GTS[MW 8FZ_d^a_F[FbadTFbaf]FaaFXf`e]FaaF[Fbad\d\f[f Tf_Vd`e^[fbKZebae< 8'42:59/ <gQS\GGT[SM 8FZ_d^a_Fbae\ZFXf`eQ ]FaaF[Fbad]FaaebaZbd^Tf_Vd`e^TFbaf[fbKZF< +'&957:;&252&:/ <gTH\QFM[HS 8FZ_d^]F\f[fQ Xf`ea_F[Fbaddaaebae[fbKZF^Tf_Vd`e^]F]]ebaeQ \ZF< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUdR c DP^fXXdOf`F^TfFbF^Yd]ad^fb^TFb\fae^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dTeW ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_^ FTfUfdbFW Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f^[db\ZaQ ad_fI^[db^V`f^e[[F]]d_fW^\fYFb\FbUFW^YF_Q afbFbUFW^]F_Tfa&^eaafTF^F^Ye]]fTF^F]f]aFbaf F^\f_faaf^Y_dYd_Ufdbe`f^]Z``F^Ye_af^^[LF^\FQ Tdbd^_faFbF_]f^[dXZbf^e^bd_Xe^\f^`FVVFR c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``e^_F`eUfdbF^\f^]afXeW^\FYd]faeae^eV`f eaaf^\F``e^Y_d[F\Z_eW^e^Sf_Xe^\F``PF]YF_ad e_[LREf[d`e^J_YefeW^[LF^YZ ^F]]F_F^[dbQ ]Z`aeae^\e``PdSSF_FbaFW^F\^e``e^KZe`F^]f^Se F]Y_F]]d^_fbTfd^eb[LF^YF_^aZaad^[f ^[LF [db[F_bF^`PF]f]aFbUe^\f^FTFbaZe`f^dbF_f F^YF]f^e^KZe`]fe]f^afad`d^V_eTebaf^]Zf^OFbf ]Z`^]fad^fbaF_bFa^!!!Re]aFRFZVFbfZ]Rfa^F ]Z^$N`^9dXebf#^8G\fUfdbF^1FVfdbe`F<^R c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^\f^CeaebUe_dR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR^ c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c CZ]ad\F^VfZ\fUfe_fd^\F`^OFbF^;^f`^\daad_ [dXXF_[fe`f]ae^ (eOfd^ +e]]fXf`febd CebUdbfF_FW^ [db^ ]aZ\fd^ fb^ DeXFUfe @F_XF^ e``e^ Tfe^ \Ff^ +f``F 8aF`RA6-:2>H::?<W^[Zf^aZaaf^V`f^fbaF_F]]eaf e``Pe[KZf]ad^Yda_ebbd^_fTd`VF_]f^YF_^Tf]fQ ae_F^f^OFbfR^ c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR DeXFUfe^@F_XFW^` ^^>6^bdTFXO_F^>AH> d_gXacNfYYdc`dY^eg]f_fPe^cg !:77:6; 285)'$8;#9669))8;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ^ 9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G c Zebad^e``e^TFb\fae^]FbUe^fb[ebad)

b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegZc`L ^f`f`^fg]cUe`]eg]dgXea^fZdXeRdc`f d`gZea^eg_fPe_f[gf`^acg_fgcafgTS[WWg]f_ Pdca`cgSFgPf``edcgSWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF `F^ ]d`F^ VFbF_e`faM^ \f^ [Lf^ Y_F]Fbae^ `PdSQ SF_aeW^[LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fQ TF_]e^\e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F \F``PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f` bZXF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR^ c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^ e_aRH76W^ [dRH W^ `FaaR^ SW^ [d\f[F^ [fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^VfZ\f[F^aZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ c Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ c Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR c Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bRH2>AA7^1RGR#W^YF_^Zb^fXYd_ad^Ye_f^e`^HA YF_^[Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d^\f [eZUfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d^\f _fSfZad^\F``Pe[KZf]adR^ c EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR c DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ c DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR c N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR c Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe bRH2>AA7^ 1RGR#W^ Zbd^ KZe`F^ \fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^Nb^[e]d \f^ fbe\FXYfXFbadW^ `PeVVfZ\f[eUfdbF ]e_M^_FTd[eae^F^`PeVVfZ\f[eae_fd^YF_\F_M aZaaF^`F^]dXXF^TF_]eaFR^ c Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ c N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf&

e`adR^ c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ c De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ W^ YF_^ KZe`]fe]f^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR^ c DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^=F^F]f]aFbaf^e`^XdXFbad \F``e^TFb\faeW^FTFbaZe`f^f][_fUfdbf^F^]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``PeVQ VfZ\f[eae_fdR c BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR c =F^`PfXXdOf`F^;^d[[ZYead^\e`^\FOfad_F d^ \e^ aF_Uf^ ]FbUe^ afad`dW^ `e^ `fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR c .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR c Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR c 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR c Zebad^e``e^TFb\fae^[db^fb[ebad) b 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg TQg NfOOaedcg SWTQ[g V`e OVY^egZ3dVYegZc`^f`f`^fg]cUe`]eg]d Xea^fZdXeRdc`fgd`gZea^eg_fPe_f\ c De^\dXeb\e^\dT_M^[dbaFbF_F) c e<Q^ ]F^ YF_]dbe^ Sf]f[e)^ Q^ [dVbdXFW bdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F^SfQ ][e`FW^\dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW _F[eYfad^ aF`FSdbf[d^ \F`^ _f[LfF\FbaFI^ fb [e]d^`d^]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FQ VfXF^ Yea_fXdbfe`FW^ [db^ fb\f[eUfdbF^ KZe`d_e^ [dbfZVead^ fb^ _FVfXF^ \f^ [dXZQ bfdbF^`FVe`F^ ^\F``F^VFbF_e`faM^\F`^[dQ bfZVFR^ c J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R c Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR c O<Q^]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^ _eYY_F]FbaebaFR^ J``e^ \dXeb\e \dT_ebbd^ F]]F_F^ e``FVeaf^ ]fe^ Zbe^ _FQ [FbaF^Tf]Z_e^[eXF_e`F^8\e``e^KZe`F^_f]Z`af `d^]aead^\F``e^]d[fFaM^d^FbaF^F\^f^YdaF_f [dbSF_faf^ e``PdSSF_FbaF^ fb^ Z\fFbUe<^ ]fe [dYfe^Sdad]aeaf[e^\f^Zb^Te`f\d^\d[ZXFbad \f^f\FbafaM^\f^\Faad^dSSF_FbaFR c [<Q^ e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[FQ \Z_e^F]F[ZafTe^bRH2>AA7^1RGR#R c =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR c BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) c J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR


c .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[F\Z_e F]F[ZafTe^bRH2>AA7^1RGR#^bdb[L'^f`^TFbaf YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbF ]FXY_F^ XF\febaF^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bRH2>AA7^ 1RGR#^ KZe`F^ Y_F]ZXfOf`F^ fXQ Yd_ad^YF_^]YF]FR c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aFW TF__M^fb\Faae^Zbe^Ve_e^]F[db\d^`F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^Zb^\d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^ CCCCC J55N=B^9N^5GE9N@J :\gKTBTIIFg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^ 3003 ; "+(- +;#, ,--+ ._F]]d^ J==BCNJ%NBEG^EB@J1NDG^ .1BCG9,1G^G=GC,@N5G^ 9N^DJ+G%NJ^@G1+G .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF bF``e^._d[F\Z_e^G]F[ZafTe^bR^/H26:^1RGR^ Y_dXd]]e^\e^ $N=@N@,@B^*JECJ1NB^=JE^.JBDB 9N^@B1NEB^=RYRJ)# 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^H/2H>2>AAef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[R^e^]FVZfad^\f f]aebUe^ \f^ TFb\fae^ Sd_XZ`eae^ \e`^ C_F\fad_F ._d[F\FbaF^$N]afaZad^*eb[e_fd^=eb^.ed`d^\f @d_fbd^=RYRJR#I Cdb]f\F_ead^[LF^eYYe_F^dYYd_aZbd^_fSf]]e_F e`a_e^TFb\fae^[db^`e^_f\ZUfdbF^\F`^Y_FUUd^Oe]F \f^ ^VfZ]ae^eZad_fUUeUfdbF^\F`^0RGRI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^fb^\eae^QTgPf``edcgSWTQge__fgcafgTT[WW[ bF`^.e`eUUd^\f^0fZ]afUfe^\f^DeXFUfe^@F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^]f^aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F``e YfFbe^Y_dY_fFaM^\F`^]FVZFbaF^fXXdOf`F) -3003; (" 3/; A`g^faad^cadcg]f_gEcUV`f ]dgEVad`Peg2E&5gXcaRdc`fgdUUcOd_deaf NeZf`^fgXea^fg]f_gNeOOadZe^cgXfagZdJd_f eOd^eRdc`fg2adZe]f`^fg`fdg_c^^dg``\Tgf Sg]f_gEcUXea^cg@BQg]f_g0\]\&\g]f_gEcL UV`fg ]dg EVad`Pe5g eg ^afg Xde`dg NVcad ^faaeg XcY^cg e__eg _cZe_d^=g /1e_dZf.[g f XafZdYeUf`^fg_9eXXea^eUf`^cgVOdZe^c e_gXde`cg^faaegade_Re^cgfge``fYYegZe`L ^d`ege_gXde`cgYfUd`^faae^c[gZcUXcY^c ]egJe`dgZe^eY^e_dgYfdgfgUfRRcDgadXcaL ^e^cg `f_g Ee^eY^cg +eOOadZe^dg ]f_g ZcL UV`fg]dgEVad`PegZc`g_fgd`]dZeRdc`d, NcP_dcg ]dg UeXXeg TF[g Xea^dZf__e HWKBYVO\gQ[g$deg1e_dZf[gXde`cg;L1T[gZeL ^fPcadeg @BQ[g Z_eYYfg S7[g Zc`YdY^f`Re Je`dgH[M[g6f`]\gEe^\\g>VacgSKT[GW\ #6944:; 819/ <gQI\SIM[MM 8FZ_d^a_FbaebdTFQ Xf`e\ZF[FbadbdTebae[fbKZF^Tf_Vd`e^[fbKZebQ ae[fbKZF< J55N=J^JD@1G= c CLF^bF``F^^fYdaF]f^fb^[Zf)

)% c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]fd Uf]fYdUdgOf`dg`f__fgYfPVf`^dg]e^fgf _VcP3d,g TFg NfOOaedcg SWTQg e__fg caf TT[WW[g0e_eRRcg]dg4dVY^dRdeg]dg8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ XafYYcgdg_cZe_dg]f__9@YYcZdeRdc`f\ -3003; (" 3; #6944:; 819/ <g QI\SIM[MM 8FZ_d^a_FbaebdTFXf`e\ZF[FbadbdTebae[fbKZF Tf_Vd`e^[fbKZebae[fbKZF< 8'42:59; <gQ\ISI[MM 8FZ_d^a_FXf`ebdTF[FbQ adTFbafbdTF^Tf_Vd`e^[fbKZebae[fbKZF< +'&957:;&252&: <gT\IHK[GG 8FZ_d^Xf``FbdTFQ [Fbad]F]]ebaeKZeaa_d^Tf_Vd`e^]Faaebae]FaaF< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUdR c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^ ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_^ FTfQ UfdbFW^Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f [db\Zaad_fI^ [db^ V`f^ e[[F]]d_fW^ \fYFbQ \FbUFW^YF_afbFbUFW^]F_Tfa&^eaafTF^F^Ye]Q ]fTF^F]f]aFbaf^F^\f_faaf^Y_dYd_Ufdbe`f^]Z``F Ye_af^ \F``PF\fSf[fd^ [LF^ \FTdbd^ _faFbF_]f [dXZbf^e^bd_Xe^\f^`FVVF^8F\^FTFbaZe`F _FVd`eXFbad^\f^[db\dXfbfd<R c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``e^_F`eUfdbF^\f^]afXeW^\FYd]faeae^eV`f eaaf^\F``e^Y_d[F\Z_eW^e^Sf_Xe^\F``PF]YF_ad e_[LRJbbe^+e_fe^=[eTF``fW^[LF^YZ ^F]Q ]F_F^ [db]Z`aeae^ \e``PdSSF_FbaFW^ F\^ e``e KZe`F^ ]f^ Se^ F]Y_F]]d^ _fbTfd^ eb[LF^ YF_ aZaad^ [f ^ [LF^ [db[F_bF^ `PF]f]aFbUe^ \f FTFbaZe`f^dbF_f^F^YF]f^e^KZe`]fe]f^afad`d V_eTebaf^ ]Zf^ OFbf^ ]Z`^ ]fad^ fbaF_bFa !!!Re]aFRFZVFbfZ]Rfa^F^]Z^$N`^9dXebf# 8G\fUfdbF^1FVfdbe`F<^R c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^\f^CeaebUe_dR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c CZ]ad\F^ VfZ\fUfe_fd^ \F`^ OFbF^ ;^ `PeTTR B_febe^@_eTeV`fdW^[db^]aZ\fd^fb^DeXFUfe @F_XF^ e``e^ Tfe^ C_eaf^ bR4 8aF`RA6-:2//>>H-<W^[Zf^aZaaf^V`f^fbaF_F]]eaf e``Pe[KZf]ad^Yda_ebbd^_fTd`VF_]f^YF_^Tf]fQ ae_F^f^OFbfR^ c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb

F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR DeXFUfe^@F_XFW^` ^>6^bdTFXO_F^>AH>^ d_gXacNfYYdc`dY^eg]f_fPe^cg !:77:6; 285)'$8;#9669))8;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ^ 9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G c Zebad^e``e^TFb\fae^]FbUe^fb[ebad) b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegZc`L ^f`f`^fg]cUe`]eg]dgXea^fZdXeRdc`f d`gZea^eg_fPe_f[gf`^acg_fgcafgTS[WWg]f_ Pdca`cgSFgPf``edcgSWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF `F^ ]d`F^ VFbF_e`faM^ \f^ [Lf^ Y_F]Fbae^ `PdSQ SF_aeW^[LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fQ TF_]e^\e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F \F``PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f` bZXF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR^ c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^ e_aRH76W^ [dRH W^ `FaaR^ SW^ [d\f[F^ [fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^VfZ\f[F^aZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ c Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ c Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR c Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bR/H2H66:^1RGR#W^YF_^Zb^fXYd_ad^Ye_f^e` HA^YF_^[Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d \f^[eZUfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d \f^_fSfZad^\F``Pe[KZf]adR^ c EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR c DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ c DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR c N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR c Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe bR^/H2H66:^1RGR#W^Zbd^KZe`F^\fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F

Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^ c Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ c Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ c N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFb^Ze`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ c De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ W^ YF_^ KZe`]fe]f^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR^ c DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^=F^F]f]aFbaf^e`^XdXFbad \F``e^TFb\faeW^FTFbaZe`f^f][_fUfdbf^F^]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``PeVQ VfZ\f[eae_fdR c BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR c =F^`PfXXdOf`F^;^d[[ZYead^\e`^\FOfad_F d^ \e^ aF_Uf^ ]FbUe^ afad`dW^ `e^ `fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR c .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR c Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR c 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR c Zebad^e``e^TFb\fae^[db^fb[ebad) b 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg TQg NfOOaedcg SWTQ[g V`e OVY^egZ3dVYegZc`^f`f`^fg]cUe`]eg]d Xea^fZdXeRdc`fgd`gZea^eg_fPe_f\ b 8eg]cUe`]eg]cJa=gZc`^f`faf, c e<Q^ ]F^ YF_]dbe^ Sf]f[e)^ Q^ [dVbdXFW bdXFW^`ZdVd^F^\eae^\f^be][faeW^[d\f[F^SfQ ][e`FW^\dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW _F[eYfad^ aF`FSdbf[d^ \F`^ _f[LfF\FbaFI^ fb [e]d^`d^]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FQ VfXF^ Yea_fXdbfe`FW^ [db^ fb\f[eUfdbF^ KZe`d_e^ [dbfZVead^ fb^ _FVfXF^ \f^ [dXZQ bfdbF^`FVe`F^ ^\F``F^VFbF_e`faM^\F`^[dQ bfZVFR^ c J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R c Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR c O<Q^]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^ _eYY_F]FbaebaFR^ J``e^ \dXeb\e \dT_ebbd^ F]]F_F^ e``FVeaf^ ]fe^ Zbe^ _FQ [FbaF^Tf]Z_e^[eXF_e`F^8\e``e^KZe`F^_f]Z`af `d^]aead^\F``e^]d[fFaM^d^FbaF^F\^f^YdaF_f [dbSF_faf^ e``PdSSF_FbaF^ fb^ Z\fFbUe<^ ]fe [dYfe^Sdad]aeaf[e^\f^Zb^Te`f\d^\d[ZXFbad \f^f\FbafaM^\f^\Faad^dSSF_FbaFR c [<Q^ e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[FQ \Z_e^F]F[ZafTe^bR^/H2H66:^1RGR#R c =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ


aZfad^fXXF\feaeXFbaFR c BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) c J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR c .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[F\Z_e F]F[ZafTe^ bR^ /H2H66:^ 1RGR#^ bdb[L'^ f` TFbaf^YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^]FXY_F^XF\febaF^e]]FVbd^[f_[dQ `e_F^bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe bR^/H2H66:^1RGR#^KZe`F^Y_F]ZXfOf`F^fXQ Yd_ad^YF_^]YF]FR c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aFW TF__M^fb\Faae^Zbe^Ve_e^]F[db\d^`F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^_f[d__e^Zb^\d[ZXFbaead^ F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c BVbf^ \dXeb\e^ \f^ _F]afaZUfdbF^ \F``e [eZUfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f dSSF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^ CCCCC J55N=B^9N^5GE9N@J :\gKGBSWTTg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^ (30+"3; 3003 ; "+(- +;#, ,--+ ._F]]d^ J==BCNJ%NBEG^EB@J1NDG .1BCG9,1G^^G=GC,@N5G^ 9N^DJ+G%NJ^@G1+G^ .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF bF``e^._d[F\Z_e^G]F[ZafTe^ER/72>AHH^1RGR 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^H/^Xe_Ud >AH>^^ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[R^e^]FVZfad \f^f]aebUe^\f^TFb\fae^Sd_XZ`eae^\e`^C_F\fad_F ._d[F\FbaF^ $+.=^ 0G=@NBEG^ C1G9N@N *JECJ^=RYRJR#I 1faFbZad^bF[F]]e_fd^YF_aebad^_fSf]]e_F^`e^TFbQ \fae^ \F`^ [dXYFb\fd^ YfVbd_eadW^ [db^ `e^ _f\ZQ UfdbF^\F`^Y_FUUd^Oe]F^\f^ ^W^VfZ]ae^_f[LfF]ae \F`^[_F\fad_F^Y_d[F\FbaFI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^^fb^\eae^KgNfOOaedcgSWTQge__fgcafgTW[WW[ .e`eUUd^ \f^ 0fZ]afUfe^ \f^ DeXFUfe^ @F_XFW .feUUe^\F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^Y_F]]d^f^`d[e`f^\F``PJ]]d[feUfdbF^EdQ ae_f`FW^ ]f^ aF__e^ `e^ TFb\fae^ ]FbUe^ fb[ebad^ \Ff ]FVZFbaf^fXXdOf`f) -3003;(* / A`g^faad^cadcg]f_gEcUV`fg]dg:cL Zfaeg ;fad`fYfg e__eg Jdeg Ee`c`dZc @]eUcg ``\KMg fg KG,g UePeRRd`cg e Xde`cg^faaegeJf`^fg]Vfgd`PafYYdgeV^cL `cUdgZeaaeOd_d[gc_^afgV`cgXf]c`e_fg]e_ Je`cg YZe_e[g YfaJd^cg ]eg Zca^fg YVg ^af _e^d[g]f__egYVXfaNdZdfgZcXfa^eg^c^e_fg]d U?\TQW[TG[g Zc`g e``fYYcg V`g e_^ac Je`cge^^Ve_Uf`^fge]dOd^cgegZVZd`eg]d U?\SH[QIg2afe_dRRe^cge_gXde`cgade_Re^c5 c_^afg_cZe_fgYc^^cYZe_fg]dgU?\SKgZc` e_^fRRegV^d_fg]dgUf^adgT[MW\gg )@;AgE@;@1;@8A,gEe^eY^cg+eOOadZe^d ]dg:cZfaeg;fad`fYf[gNcP_dcg]dgUeXXe `\SH[gXea^dZf__e, TWSMBYVO\Q[gJdegEe`c`dZcg+ae`ZfYZc @]eUc[gXde`cg^faae[gYZe_eg@[gZe^\EBS[ Z_\T7[gU?\TQM[gaf`]d^egfVacgTQS[KG\ 1dgXafZdYe, 8 Z3fg _eg Uf`Rdc`e^eg Xea^dZf__e TWSMBYVO\Qg -g Y^e^eg ZcY^d^Vd^eg ]e__e YcXXafYYdc`fg ]f__eg Xea^dZf__e QGGBYVO\Q[g ZcUfg adYV_^eg ]e__eg JeadeL Rdc`fgXafYf`^e^ege__9@Pf`Rdeg]f_g;faL ad^cadcg]dgEe^e`Reacgd`g]e^egSF\F\SWWF `\SKQST\TBSWWFD . Z3fg d_g Je`cg YZe_eg fg _eg Zca^fg e`L `fYYeg e_g UePeRRd`cg Yc`cg Of`dg ZcL UV`dg e__9d`^facg NeOOadZe^cg fg Yd d]f`^dNdZe`cg`f_gZcaadYXc`]f`^fgEe^eL

)& Y^cg+eOOadZe^dg]f_gEcUV`fg]dg:cZfae ;fad`fYfgZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXegSH[gXea^dZf__f, TWSMBYVO\T[gOf`fgZcUV`fg`c`gZf`YdL Od_fg2Zca^f5D TWSMBYVO\S[gOf`fgZcUV`fg`c`gZf`YdL Od_fg2YZe_f5\ # , 3; + ,/ <gFT\FQM[MW 8FZ_d^daaebaZQ bdXf`edaad[Fbada_Fbae[fbKZF^ Tf_Vd`e^ [fbQ KZebae<R -3003;(* A`g^faad^cadcg]f_gEcUV`fg]dg:cL Zfaeg ;fad`fYfg e__eg Jdeg Ee`c`dZc @]eUcg`\KQ,geXXea^eUf`^cge_gXadUc Xde`cg]f__egYVXfaNdZdfgZcXfa^eg^c^e_f ]dg U?\TKG[MI[g ZcUXcY^cg ]eg YcPL Pdca`c[gZVZd`eLXae`Rc[g^afgZeUfafg]e _f^^c[g]VfgOeP`dgfgV`gadXcY^dP_dc\ )@;AgE@;@1;@8A,gEe^eY^cg+eOOadZe^d ]dg:cZfaeg;fad`fYf[gNcP_dcg]dgUeXXe `\SHgXea^dZf__e, TWSMBYVO\K[gJdegEe`c`dZcg+ae`ZfYZc @]eUc[g Xde`cg T7[g YZe_eg @[g Ze^\@BQ[ Z_\S7[gJe`dgG[gaf`]d^egfVacgQHT[MS\ 1dgXafZdYe, 8 ; Z3fg _eg Uf`Rdc`e^eg Xea^dZf__e TWSMBYVO\Kg -g Y^e^eg ZcY^d^Vd^eg ]e__e YcXXafYYdc`fg ]f__eg Xea^dZf__e QGGBYVO\K[g ZcUfg adYV_^eg ]e__eg JeadeL Rdc`fgXafYf`^e^ege__9@Pf`Rdeg]f_g;faL ad^cadcg]dgEe^e`Reacgd`g]e^egSF\F\SWWF `\SKQSS\TBSWWFD . ; Z3fg d_g Je`cg YZe_eg fg _eg Zca^fg e`L `fYYeg e__9eXXea^eUf`^cg Yc`cg Of`d ZcUV`dge__9d`^facgNeOOadZe^cgfgYdgd]f`L ^dNdZe`cg `f_g ZcaadYXc`]f`^fg Ee^eY^c +eOOadZe^dg]f_gEcUV`fg]dg:cZfaeg;fL ad`fYfgZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXegSH[gXea^dZf__f, TWSMBYVO\T[gOf`fgZcUV`fg`c`gZf`YdL Od_fg2Zca^f5D TWSMBYVO\S[gOf`fgZcUV`fg`c`gZf`YdL Od_fg2YZe_f5\ # , 3; + ,/;<gIH\FSF[WW 8FZ_d^bdTebaeQ ]FfXf`edaad[FbadTFbadaad^Tf_Vd`e^UF_d^UF_d< J55N=J^JD@1G= c CLF^bF``F^^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]fd Uf]fYdUdgOf`dg`f__fgYfPVf`^dg]e^fgf _VcP3d,g g STg NfOOaedcg SWTQg e__fg caf TW[WW[g0e_eRRcg]dg4dVY^dRdeg]dg8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ XafYYcgdg_cZe_dg]f__9@YYcZdeRdc`f\ -3003; (* ; # , 3; + ,/; <g FT\FQM[MW 8FZ_d^daaebaZbdXf`edaad[Fbada_Fbae[fbKZF^Tf_Q Vd`e^[fbKZebae< + "3(,;<gF\TFQ[MM 8FZ_d^^daadXf`e[FbadQ daaebaea_F^Tf_Vd`e^[fbKZebaeQ[fbKZF< + ,(03; "(" 3;<gK\WIT[GG 8FZ_d^KZeaQ a_dXf`eUF_dbdTebaZbd^Tf_Vd`e^]Faaebae]FaaF< -3003; (* ; # , 3; + ,/ <g IH\FSF[WW 8FZ_d^ bdTebae]FfXf`edaad[FbadTFbadaad^ Tf_Q Vd`e^UF_d^UF_d< + "3(,; <g I\HFS[FW 8FZ_d^ bdTFXf`e]FfQ [Fbaddaaebae\ZF^Tf_Vd`e^daaebae< + ,(03; "(" 3;<gK\FKT[KW 8FZ_d^KZeaQ a_dXf`edaad[FbadKZe_ebaZbd^ Tf_Vd`e^ KZeQ _ebae<R c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`e][fd \F`^Y_FUUdR c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^ ]aead^ \f^ Seaad^ F^ \f^ \f_faad^ fb^ [Zf dVbZbd^]f^a_dTeW^]FbUe^e`[Zbe^Ve_ebUfe YF_^ FTfUfdbFW^ Xd`F]afF^ F^ Y_FaF]F^ \f FTFbaZe`f^[db\Zaad_fI^[db^V`f^e[[F]]d_fW \fYFb\FbUFW^YF_afbFbUFW^]F_Tfa&^eaafTF^F Ye]]fTF^F]f]aFbaf^F^\f_faaf^Y_dYd_Ufdbe`f ]Z``F^Ye_af^\F``PF\fSf[fd^[LF^\FTdbd^_faFQ bF_]f^[dXZbf^e^bd_Xe^\f^`FVVF^8_FVd`eQ XFbad^\f^[db\dXfbfd<R c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``e^_F`eUfdbF^\f^]afXeW^\FYd]faeae^eV`f eaaf^\F``e^Y_d[F\Z_eW^e^Sf_Xe^\F``PF]YF_ad fbVR^5fb[FbUd^@d_[e]fdW^[LF^YZ ^F]]F_F [db]Z`aeae^\e``PdSSF_FbaF^8F\^e``e^KZe`F ]f^Se^F]Y_F]]d^_fbTfd^eb[LF^YF_^aZaad^[f [LF^ [db[F_bF^ `PF]f]aFbUe^ \f^ FTFbaZe`f dbF_f^F^YF]f^e^KZe`]fe]f^afad`d^V_eTebaf ]Zf^OFbf<^]Z`^]fad^fbaF_bFa^!!!Re]aFRFZQ VFbfZ]RfaW^^]Z^$N`^9dXebf#^8G\fUfdbF^1FQ Vfdbe`F<^ F^ Y_F]]d^ f^ `d[e`f^ \F``e $J]]d[feUfdbF^Edae_f`F^._d[F\Z_F^G]FQ [ZafTe^\f^DeXFUfe^@F_XF#^]faf^bFV`f^,SSf[f 0fZ\fUfe_f^ \F`^ @_fOZbe`F^ \f^ DeXFUfe @F_XFR c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ

aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^\f^CeaebUe_dW^e^[Zf^Yda_ebbd^_fQ Td`VF_]f^\f_FaaeXFbaFR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR^ c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^V`f^fXXdOf`f ]f^a_dTfbd^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f` _f`e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c CZ]ad\F^VfZ\fUfe_fd^\FV`f^fXXdOf`f^]daQ adYd]af^ e^ TFb\fae^ ;^ `PeTTR^ (_eb[F][d =aF``eW^ ^ [db^ ]aZ\fd^ fb^ (e`F_be^ +e_fbeW 5fe`F^ \F``e^ DfOF_aM^ bR/? 8aF`RA6-:2677--<W^[Zf^aZaaf^V`f^fbaF_F]]eaf Yda_ebbd^_fTd`VF_]f^YF_^Tf]fae_F^f^OFbfR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR DeXFUfe^@F_XFW^` ^>6^bdTFXO_F^>AH>^^ d_gXacNfYYdc`dY^eg]f_fPe^cg !:77:6; 285)'$8;#9669))8;5:782: CBE9N%NBEN^0GEG1JDNNE^+J@G1NJ^ 9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G c Zebad^e``e^TFb\fae^]FbUe^fb[ebad) b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegZc`L ^f`f`^fg]cUe`]eg]dgXea^fZdXeRdc`f d`g afPc_eg Zc`g d_g Oc__c[g f`^acg _fg caf TS[WWg]f_gPdca`cgQWgPf``edcgSWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF^`F ]d`F^VFbF_e`faM^\f^[Lf^Y_F]Fbae^`PdSSF_aeW [LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fTF_]e \e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F^\F`Q `PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdbf]ae \F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f`^bZQ XF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^ ^b'^f`^OFbF YF_^ [Zf^ ;^ ]aeae^ Seaae^ `PdSSF_ae^ d^ e`a_d^ \FTF^F]]F_F^eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F)^ c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aRH76W^[dR^H W^`FaaR^SW^[d\f[F^[fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf

e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^0fZ\f[F^@ZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ c Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ c Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR c Q^ DPF]Y_F]]e^ \f[Lfe_eUfdbF^ \f^ eTF_ Y_F]d^Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bR/72>AHH^1RGR#W^YF_^Zb^fXYd_ad^Ye_f^e` HA^YF_^[Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d \f^[eZUfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d \f^_fSfZad^\F``Pe[KZf]adR c EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR c DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ c DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR c N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR c Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe /72>AHH^ 1RGR#W^ Zbd^ KZe`F^ \fSSF_FbUe Y_FUUd^\f^eVVfZ\f[eUfdbF^F^Zbd^Ye_f^e` TFbaf^YF_^[Fbad^\F`^Y_FUUd^]aF]]d^KZe`F Y_F]ZXfOf`F^fXYd_ad^YF_^]YF]FR^ c Nb^[e]d^\f^fbe\FXYfXFbadW^`PeVVfZ\f[eQ UfdbF^ ]e_M^ _FTd[eae^ F^ `PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ c Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f^Y_d[FQ \F_M^e^Ve_e^]Z``e^Oe]F^\F``e^dSSF_ae^Yf& e`aeR^ c N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR^ c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR^ c De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ ^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR^ c 0`f^fXXdOf`f^TFbVdbd^TFb\Zaf^`fOF_f^\e aZaaF^`F^Sd_Xe`faM^Y_FVfZ\fUfFTd`fR^ c DF^Sd_Xe`faM^V_eTebaf^]ZV`f^fXXdOf`f^]eQ _ebbd^[eb[F``eaF^e^[Z_e^F^]YF]F^\F``PeVQ VfZ\f[eae_fdR c =F^V`f^fXXdOf`f^]dbd^d[[ZYeaf^\e`^\FOfQ ad_F^d^\e^aF_Uf^]FbUe^afad`dW^`e^`fOF_eUfdbF ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR c BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ


\fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR c .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR c Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[RR c 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR c Zebad^e``e^TFb\fae^[db^fb[ebad) b 'P`dg cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg TFg NfOOaedcg SWTQg OVY^e Z3dVYegZc`^f`f`^fg]cUe`]eg]dgXeaL ^fZdXeRdc`fgd`gZea^eg_fPe_f\ c De^\dXeb\e^\dT_M^[dbaFbF_F) 8 Q^]F^YF_]dbe^Sf]f[e)^Q^[dVbdXFW^bdXFW `ZdVd^F^\eae^\f^be][faeW^[d\f[F^Sf][e`FW \dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW^_F[eQ Yfad^aF`FSdbf[d^\F`^_f[LfF\FbaFI^fb^[e]d^`d ]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FVfXF^YeQ a_fXdbfe`FW^ [db^ fb\f[eUfdbF^ ^ KZe`d_e [dbfZVead^ fb^ _FVfXF^ \f^ [dXZbfdbF^ `FQ Ve`F^ ^\F``F^VFbF_e`faM^\F`^[dbfZVFR^ c J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F`^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R c Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR . ]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^_eYY_F]FbaebaFR^ c J``e^\dXeb\e^\dT_ebbd^F]]F_F^e``FVeaf ]fe^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^8\e``e KZe`F^_f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF F\^ f^ YdaF_f^ [dbSF_faf^ e``PdSSF_FbaF^ fb Z\fFbUe<^]fe^[dYfe^Sdad]aeaf[e^\f^Zb^TeQ `f\d^\d[ZXFbad^\f^f\FbafaM^\f^\Faad^dSSFQ _FbaFR $ ; e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[FQ \Z_e^F]F[ZafTe^/72>AHH^1RGR#R c =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR c BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) c J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR c .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^\dT_M^F]]F_F^TF_]eae^bFf^]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e^$bdaefd^0feb`Z[e^.F__F``e^Y_d[F\Z_e F]F[ZafTe^/72>AHH^1RGR#^bdb[L'^f`^TFbaf YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eUfdbF ]FXY_F^ XF\febaF^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe /72>AHH^ 1RGR#^ KZe`F^ Y_F]ZXfOf`F^ fXQ Yd_ad^YF_^]YF]FR c @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^ c Nb^[e]d^\f^Y_F]FbaeUfdbF^\f^ae`f^dSSF_aFW TF__M^fb\Faae^Zbe^Ve_e^]F[db\d^`F^Y_FQ Tf]fdbf^\f^[Zf^e``Pe_aR^?:/^[RYR[RR c =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad

* Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^ VfZ]afSfQ [ead^XdafTd<^^`e^YF_\fae^\F``e^[eZUfdbFW f`^[Zf^fXYd_ad^;^a_eaaFbZad^[dXF^_fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR BVbf^\dXeb\e^\f^_F]afaZUfdbF^\F``e^[eZQ UfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f^dSQ SF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^ CCCCC J55N=B^9N^5GE9N@J :\gKGBTIIKg6fP\g>Y\gAUU\ ND^.1B(G==NBEN=@J^9GDG0J@B^ 3003 ; "+(- +;#, ,--+ Y_F]]d^ J==BCNJ%NBEG^EB@J1NDG^ .1BCG9,1G^G=GC,@N5G^ 9N^DJ+G%NJ^@G1+G .feUUe^\F``e^1FYZOO`f[e^ ^DeXFUfe^@F_XF bF``e^._d[F\Z_e^G]F[ZafTe^ER/726/^1RGR 5f]ad^f`^Y_dTTF\fXFbad^\f^\F`FVe^e``e^TFb\fae FXF]]d^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^\F`^@_fQ OZbe`F^\f^DeXFUfe^@F_XF^fb^\eae^A62HA2>AAF^]Z[[F]]fTeXFbaF^fb^\eae^H4^XeVVfd^>AHAW ef^]Fb]f^\F``Pe_aR^?6H^Of]^[RYR[R^e^]FVZfad^\f f]aebUe^ \f^ TFb\fae^ Sd_XZ`eae^ \e`^ C_F\fad_F ._d[F\FbaF^$NbaF]e^0F]afdbF^C_F\faf^=RYRJR# 8VfM^$CJ1NCJD^=RYRJR#<I 1faFbZad^ dYYd_aZbd^ _fSf]]e_F^ `e^ TFb\fae^ \F` [dXYFb\fd^ ]aeVVfad^ [db^ `e^ _f\ZUfdbF^ \F` Y_FUUd^Oe]F^\f^ ^VfZ]ae^_f[LfF]ae^\F`^[_F\fQ ad_F^fbaF_TFbZadI 5f]ad^`Pe_aR^?-6^[RYR[RI J55N=J [LF^fb^\eae^KgNfOOaedcgSWTQge__fgcafgTT[WW[ .e`eUUd^ \f^ 0fZ]afUfe^ \f^ DeXFUfe^ @F_XFW .feUUe^F``e^1FYZOO`f[eW^Yfebd^Y_fXd^]FXfbQ aF__eadW^ Y_F]]d^ f^ `d[e`f^ \F``e^ $J]]d[feUfdbF Edae_f`F^ ._d[F\Z_F^ G]F[ZafTF^ \f^ DeXFUfe @F_XF#W^]f^aF__M^`e^TFb\fae^]FbUe^fb[ebad^\F``e YfFbe^Y_dY_fFaM^\Ff^]FVZFbaf^fXXdOf`f) -3003;(*; ;2JfZZ3degE\;\*\5,gA`g^faad^cadc ]f_g EcUV`fg ]dg 8eUfRdeg ;faUf[g YfL Rdc`fg1eUOdeYf[ge__egJdeg]f__fg;faUf, eXXfRReUf`^cg]dg^faaf`cg]f__egYVXfaL NdZdfgZcUX_fYYdJeg]dg!e\T\TH\TWg2f^^ead V`c[g eafg Yf]dZdg fg Zf`^deafg ]dfZd5[g adL Xca^e^cg`f_gZcaadYXc`]f`^fggEe^eY^c ;faaf`d[gZc`g_fgd`]dZeRdc`d, NcP_dcg]dgUeXXegFT[gXea^dZf__f,g TSW[gNeOOadZe^cgaVae_f[geafgT\KWD TSH[gYfU\daa\eaO\Z_\S7[geafgQM\SW[gaf]]\ ]cU\gfVacgSM[KM[gaf]]\ePa\gfVacggG[SGD SWI[g ePaVUf^cg Z_\S7[g eafg G\MW[g af]]\ ]cU\gfVacgI[FF[gaf]]\ePa\gfVacggK[WGD QII[g YfU\daa\Z_\T7[g eafg HT\IW[g af]]\ ]cU\g fVacg MK[QM[g af]]\ePa\g fVac TM[IFD MWS[gV_dJf^cgZ_\S7[geafgS\FW[gaf]]\g]cU\ fVacgT[MI[gaf]]\ePa\gfVacggT[WTD TKKQg 2f"g HHHg fg XadUeg f"g SSTBO5[ YfU\daa\eaO\Z_\T7[\geafgT\FW[gaf]]\g]cU\ fVacgT[FH[gaf]]\ePa\gfVacggW[KH TKKKg 2f"g HHFg fg XadUeg f"g TQSBO5[ YfU\daa\Z_\T7[\g eafg K[IW[g af]]\g ]cU\ fVacgK[QW[gaf]]\ePa\gfVacggT[SG\ 1V_g]fYZad^^cg^faaf`cgd`YdY^c`cgdgYfL PVf`^dgUe`VNe^^d, e5gY^aV^^Vaegd`gZ\e\gZcUXaf`]f`^fggV` Xde`cgd`^faae^c[gV`gXde`cg^faaegfgZd`L ?VfgXde`dD O5g Y^aV^^Vaeg d`g Z\e\g ZcY^d^Vd^eg ]eg V` Xde`cgd`^faae^c[gV`gXde`cg^faaegfg?Ve^L ^acgXde`dD Z5g ZeXe``c`fg Zc`g Y^aV^^Vaeg g Xfag _e Uf^=gd`gZ\e\gfg_9e_^aegUf^=gd`gNfaacD ]5ggUePeRRd`cgZc`gY^aV^^Vaegd`gZ\e\\ ;V^^dgdgYcXaeg]fYZad^^dgUe`VNe^^dg`c`gadL YV_^e`cge__dOae^dg`f_gEe^eY^cg+eOOadL Ze^d\g 8fgY^aV^^Vafgd`gZfUf`^cgeaUe^cgfg]fL YZad^^fgYc^^cg_fg_f^^fafgg/e.gfg/O.gYc`c Y^e^fgafe_dRRe^fgZc`gafPc_eafgEc`ZfYL Ydc`fg>]d_dRdeg`7gGKg]f_gSWg_VP_dcgTIGI\g 8fg e_^afg Y^aV^^Vafg fYdY^f`^dg 2ZeXe`L `c`fg fg UePeRRd`c5g Yc`cg ZcUX_f^eL Uf`^fgeOVYdJf\ A`gOeYfge_g0de`cg6fPc_e^cafg4f`fae_f ]f_gEcUV`fg]dg8eUfRdeg;faUfg_fg]fL YZad^^fgXea^dZf__fg3e``cg_egYfPVf`^f ]fY^d`eRdc`f,ggd`gXea^fg/&c`eg(LS.Dggd` Xea^fg/&c`eg(LT.gfgXfag_egXea^fgafYdL ]Veg/+eYZdeg]dgadYXf^^cgY^ae]e_f.\ # , 3; + ,/ fVacgIIT\KWH[SM 8FZ_d^bdQ TF[FbadbdTebaZbdXf`eQKZeaa_d[Fbad]Ff^ Tf_Q Vd`e^TFbaf[fbKZF< -3003;(* 2`VcJegE\;\*\5gA`g^faad^cadcg]f_ EcUV`fg]dg4dRRfadeg2_cZe_d^=g/8d]c.5[ XcaRdc`fg dUUcOd_deafg NeZf`^fg Xea^f ]f_g NeOOadZe^cg Xfag ZdJd_fg eOd^eRdc`f 2]dY^e`^fg ZdaZeg Zd`?Ve`^eg Uf^adg ]e_ Ueaf5g XcY^cg e__eg Jdeg EadY^cNcacg EcL _cUOc[g ZdJdZcg `\HK[g fg XafZdYeUf`^f

_9eXXea^eUf`^cg 2]eg Zc`]c`eaf5g VOdL Ze^cge_gXde`cgYfZc`]c[gZcUXcY^cg]e V`gYcPPdca`c[gV`egZVZd`e[gV`gOeP`c fg^afgZeUfafg]eg_f^^cg2YVX\gV^d_f,gHK[WW U?gLgYVX\gZcUUfaZde_f,gFT[MH5Dg adXca^e^cg`f_gE\+\g]f_gEcUV`fg]dg4dRL Rfade[gZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXeg`\gQG[gXea^dZf__e, HMWBYVO\Q[g$deg8V`PcUeaf[gXde`cgS7[ Ze^\@BQ[g Z_\S7[g Je`dg M[M[g af`]d^eg fVac SST[MH\ 6>4'8@6A; g>)A8A&A' *6(@:A1;AL E!>,g@OVYdJc\g)cJa=gfYYfafgZc`]cL `e^cgedgYf`Ydg]f__eg8fPPfgKGBFM\ @(A;@(A8A; g>g@4A(A8A; ,g:c`gXafL Yf`^f\ # , 3; + ,/;fVacgQI\HKH[SS 8FZ_d^a_FbQ aebdTFXf`e]Ff[FbadKZe_ebae]Ff^Tf_Vd`e^TFbafQ \ZF< -3003; (* A`g ^faad^cadcg ]f_g EcUV`fg ]d 4dRRfadeg2_cZe_d^=g8d]c5[gXcaRdc`fgdUL UcOd_deafgNeZf`^fgXea^fg]f_gNeOOadZe^c Xfag ZdJd_fg eOd^eRdc`fg XcY^cg e__eg ;aeL JfaYegJdegEadY^cNcacgEc_cUOcg`\HK[gf XafZdYeUf`^fgd_gUePeRRd`cg2]egZc`L ]c`eaf5g]f__egYVXfaNdZdfgV^d_fg]dgU?\ MG[MWg fg YVXfaNdZdfg ZcUUfaZde_fg ]d U?\gHH[IK[gZc`geZZfYYcadcgOeP`f^^c ]dgZdaZegK[QWgU?\Dg adXca^e^cg`f_gE\+\g]f_gEcUV`fg]dg4dRL Rfade[gZc`g_fgYfPVf`^dgd`]dZeRdc`d, NcP_dcg]dgUeXXeg`\gQG[gXea^dZf__e, HMWBYVO\T[g$deg8V`PcUeaf[gXde`cg;\[ Ze^\EBH[gZ_\T7[gZc`YdY^f`RegU?\GW[gaf`L ]d^egfVacgKG[WW\ 6>4'8@6A; g >)A8A&A'g g *6(@:AL 1;AE!>,g@OVYdJc\g)cJa=gfYYfafgZc`L ]c`e^cgedgYf`Ydg]f__eg8fPPfgKGBFM\ @(A;@(A8A; g>g@4A(A8A; ,g:c`gXafL Yf`^f\ # , 3; + ,/ fVacgTF\MHQ[IK 8FZ_d^\f[fdaQ adXf`e[fbKZF[Fbad]F]]ebaea_F^Tf_Vd`e^bdTebQ aeKZeaa_d< -3003;(* A`g^faad^cadcg]f_gEcUV`fg]dg8eL UfRdeg;faUfgg2YfRdc`fg1eUOdeYf5ge__e Jdeg Vea^c,g%ePeRRd`dg]egZc`]c`eaf fgadY^aV^^Vaeafg]dgV`gXde`cgNVcadg^faae[ ]f__eg YVXfaNdZdfg ZcUUfaZde_fg ^c^e_f Xeadg eg MWM[MFg U?\g 2]dg ZVdg V^d_dg U? SKK[QQ5[g Zc`g e``fYYeg Zca^fg g ]dg U?\ ITS[MH5\ 89dUUcOd_fg`c`g-ge__dOae^cge_gEe^eY^c +eOOadZe^d[g_cgY^fYYcg-gY^e^cgZcY^aVd^c Xfag_egUePPdcagXea^fgYV_g^faaf`cgadXcaL ^e^cge_gE\;\ge_gNcP_dcg]dgUeXXegFQ[gXeaL ^dZf__eg `\MQGg f]g d`g Ud`dUeg Xea^fg YV ?Vf__cgadXca^e^cge_gNcP_dcg]dgUeXXegFQ Xea^dZf__eg`\HTF\g )@;AgE@;@1;@8A,ggEe^eY^cg;faaf`dg]d 8eUfRdeg;faUfL1eUOdeYf, NcP_dcg]dgUeXXegFQgXea^dZf__f, HTF[gV_dJf^cgZ_\T7[geafgG\WW[gaf]]d^cg]cL Ud`dZe_fg <g M[SK[g af]]d^cg ePaeadcg < S[GT\ MQG[gV_dJf^cgZ_\T7[geafgK\IW[gaf]]d^cg]cL Ud`dZe_fg <g Q[HG[g af]]d^cg ePaeadcg < T[IW\ 6>4'8@6A; g>)A8A&A' *6(@:A1;AL E!>,g@OVYdJc\g)cJa=gfYYfafgZc`]cL `e^cgedgYf`Ydg]f__eg8fPPfgKGBFM\ @(A;@(A8A; g>g@4A(A8A; ,g:c`gXafL Yf`^f\ # , 3; + ,/;fVacgQT\IWG[TT 8FZ_d^a_FbQ aZbdXf`ebdTF[Fbad]FaaF^Tf_Vd`e^Zb\f[f< J55N=J^JD@1G= c CLF^bF``F^fYdaF]f^fb^[Zf) c Qbdb^]febd^Y_dYd]aF^dSSF_aF^\f^e[KZf]ad Fba_d^f`^aF_XfbF^]aeOf`fadI c Q`F^ dSSF_aF^ bdb^ ]febd^ FSSf[e[f^ ef^ ]Fb]f \F``Pe_aR^?7H^[RYR[RI c Q]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^Y_FTfQ ]aF^\e``Pe_aR^?7>W^[dXXe^4W^[RYR[RI c Q`e^ TFb\fae^ ]FbUe^ fb[ebad^ bdb^ eOOfe `ZdVd^YF_^KZe`]fe]f^e`a_e^_eVfdbFI^^ b eJa=g_VcPcg_egJf`]d^egZc`gd`Ze`^cg]f_ Uf]fYdUcgOf`fg`f__egYfPVf`^fg]e^e fg_VcPc,ggSTgNfOOaedcgSWTQgcafgTT[WW[ 0e_eRRcg ]dg 4dVY^dRdeg ]dg 8eUfRde ;faUf[g XdeRReg ]f__eg 6fXVOO_dZe[ Xde`cgXadUcgYfUd`^faae^c[g_cZe_dg]f__e /@YYcZdeRdc`fg :c^ead_fg 0acZf]Vaf >YfZV^dJfg]dg8eUfRdeg;faUf.\ -3003; (*; ; 8TF[[Lfe^ CR@R,R<) # , 3 + ,/ fVacgIIT\KWH[SM 8FZ_d^bdTF[FbadbdQ TebaZbdXf`eQKZeaa_d[Fbad]Ff^Tf_Vd`e^TFbaf[fbQ KZF< + "3(,/ fVacgII\TKW[HQg8FZ_d^bdTebaeQ bdTFXf`e[FbadKZe_ebae^Tf_Vd`e^]F]]ebaea_F< + ,(03; "(" 3/ fVacgKI\MGW[QT 8FZ_d KZe_ebaebdTFXf`eQ[fbKZF[Fbad]Faaebae^ Tf_Q Vd`e^a_FbaZbd< -3003;(*; 8bZdTe^CR@R,R<)^# , 3; + ,/ fVacgQI\HKH[SS 8FZ_d^a_FbaebdTFXf`e]Ff[FbQ adKZe_ebae]Ff^Tf_Vd`e^TFbaf\ZF< + "3(,/ fVacgQ\IHK[HS 8FZ_d^a_FXf`ebdQ TF[Fbad]F]]ebaeKZeaa_d^ Tf_Vd`e^ ]F]]ebaeQ \ZF<

+ ,(03; "(" 3/ fVacg T\IFS[QT 8FZ_d Xf``FbdTF[Fbaddaaebae\ZF^Tf_Vd`e^a_FbaZbd< -3003; (*; /; # , 3; + ,/ fVac TF\MHQ[IKg8FZ_d^\f[fdaadXf`e[fbKZF[Fbad]F]Q ]ebaea_F^Tf_Vd`e^bdTebaeKZeaa_d< + "3(,/;fVacgT\FMH[QI 8FZ_d^Xf``FdaadQ [Fbad[fbKZebae]Ff^Tf_Vd`e^a_FbaebdTF< + ,(03; "(" 3/ fVacgISF[SWg8FZ_d^bdQ TF[FbadTFbadaad^Tf_Vd`e^TFbaf< -3003; (*; /; # , 3; + ,/ fVac QT\IWG[TT 8FZ_d^a_FbaZbdXf`ebdTF[Fbad]FaaF Tf_Vd`e^Zb\f[f< + "3(,/ fVacgQ\TIW[GT 8FZ_d^a_FXf`e[FbQ adbdTebae^Tf_Vd`e^]FaaebaZbd< + ,(03; "(" 3/ fVacg T\MIM[QM 8FZ_d Xf``F[fbKZF[FbadbdTebae[fbKZF^Tf_Vd`e^a_FbQ ae[fbKZF< c Nb^ ae`F^ Z\fFbUeW^ e^ \fSSF_FbUe^ \F``e Y_fXeW^YF_^eVVfZ\f[e_]f^f^OFbf^]e_M^bFQ [F]]e_fd^FSSFaaZe_F^e`XFbd^Zb^_f`eb[fd \F`^Y_FUUdR c 0`f^fXXdOf`f^TFbVdbd^Yd]af^fb^TFb\fae bF``d^]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^]f^a_dQ TebdW^ ]FbUe^ e`[Zbe^ Ve_ebUfe^ YF_^ FTfQ UfdbFW^Xd`F]afF^F^Y_FaF]F^\f^FTFbaZe`f [db\Zaad_fI^ [db^ V`f^ e[[F]]d_fW^ \fYFbQ \FbUFW^YF_afbFbUFW^]F_Tfa&^eaafTF^F^Ye]Q ]fTF^F]f]aFbaf^F^\f_faaf^Y_dYd_Ufdbe`f^]Z``F Ye_af^ \F``PF\fSf[fd^ [LF^ \FTdbd^ _faFbF_]f [dXZbf^e^bd_Xe^\f^`FVVF^8F\^FTFbaZe`F _FVd`eXFbad^\f^[db\dXfbfd<R c N^OFbf^\f^[Zf^]dY_e^]dbd^XFV`fd^\F][_faaf bF``F^_F`eUfdbf^\f^]afXe^8\FYd]faeaF^eV`f eaaf^\F``e^Y_d[F\Z_e<W^_f]YFaafTeXFbaF^e Sf_Xe^ \F``PeV_dbdXd^ Jbadbfd^ 5fae`F^ F \F``PfbVR^ 0fdTeXOeaaf]ae^ CLf_f``dW^ [LF Yd]]dbd^ F]]F_F^ [db]Z`aeaF^ \e``PdSSFQ _FbaFW^F\^e``F^KZe`f^]f^Se^F]Y_F]]d^_fbTfd eb[LF^YF_^aZaad^[f ^[LF^[db[F_bF^`PF]fQ ]aFbUe^\f^FTFbaZe`f^dbF_f^F^YF]f^e^KZe`Q ]fe]f^ afad`d^ V_eTebaf^ ]Zf^ OFbf^ F [db]Z`aeOf`f^ ]Z`^ ]fad^ fbaF_bFa !!!Re]aFRFZVFbfZ]Rfa^F^]Z^^$N`^9dXebf# 8G\fUfdbF^1FVfdbe`F<^bdb[L'^Y_F]]d^V`f ZSSf[f^\F``e^$J]]d[feUfdbF^Edae_f`F^._dQ [F\Z_F^G]F[ZafTF^\f^DeXFUfe^@F_XF#^]faf bFf^`d[e`f^\FV`f^,SSf[f^0fZ\fUfe_f^\F`^@_fOZQ be`F^\f^DeXFUfe^@F_XFR c CZ]ad\F^\Ff^OFbf^Yd]af^fb^TFb\fae^;^f`^_eQ VfdbfF_F^GZVFbfd^@_eTeV`fd^[db^]aZ\fd^fb DeXFUfe^ @F_XFW^ Tfe^ C_eaf^ bR4 8aF`RA6-:2//>>H-<W^[Zf^aZaaf^V`f^fbaF_F]]eaf e``Pe[KZf]ad^Yda_ebbd^_fTd`VF_]f^YF_^F]eQ Xfbe_F^V`f^fXXdOf`fR c GP^Yd]]fOf`F^[LfF\F_F^Zb^SfbebUfeXFbad Ye_f^e`^7A2:A ^\F`^Y_FUUd^Oe]F^eV`f^N]afQ aZaf^\f^[_F\fad^[LF^Lebbd^e\F_fad^e``PfbQ aF]e^[db^f`^@_fOZbe`F^\f^DeXFUfe^@F_XFW d]]fe)^ *eb[e^ Ce_fXFW^ =eb^ .ed`d^ N+NQ *eb[d^ \f^ EeYd`fW^ *eb[e^ .dYd`e_F^ \f C_dadbFW^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbeW *eb[e^\f^CeaebUe_dR^ c N^XZaZf^]e_ebbd^Ve_ebafaf^\e^fYdaF[e^\e f][_fTF_F^]Z``d^]aF]]d^fXXdOf`F^Yd]ad^fb TFb\faeR^ c +eVVfd_f^fbSd_XeUfdbf^Yda_ebbd^F]]F_F [LfF]aF^e``F^Oeb[LF^fbaF_F]]eaFR c =F^`PdSSF_FbaF^bdb^\fTfFbF^eVVfZ\f[eaeQ _fdW^`e^[eZUfdbF^TF__M^fXXF\feaeXFbaF _F]afaZfae^ \dYd^ `e^ [LfZ]Z_e^ \F``e^ Ve_eW ]e`Td^[LF^`d^]aF]]d^bdb^eOOfe^dXF]]d \f^Ye_aF[fYe_F^e``e^XF\F]fXeW^YF_]dbe`Q XFbaF^ d^ e^ XFUUd^ \f^ Y_d[Z_ead_F^ ]YFQ [fe`FW^]FbUe^\d[ZXFbaead^F^VfZ]afSf[ead XdafTd)^fb^ae`F^[e]d^`e^[eZUfdbF^;^_F]afQ aZfae^ ]d`d^ bF``e^ Xf]Z_e^ \Ff^ 62HA^ 8bdTF \F[fXf<^\F``PfbaF_d^F^`e^_F]aebaF^Ye_aF^; a_eaaFbZae^ [dXF^ ]dXXe^ _fbTFbfFbaF^ e aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR^ c Nb^[e]d^\f^\ZOOf^]Z``e^]Z]]f]aFbUe^\Ff XdafTf^VfZ]afSf[eaf^YF_^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^e``e^Ve_eW^`PdSSF_FbaF^]f^_fTd`Q VF_M^e`^0fZ\f[FW^[LF^\f]Yd__M^fb^XF_fad e``e^_F]afaZUfdbF^\F``PfbaF_e^[eZUfdbF^d _F]YfbVF_M^`e^_F`eafTe^\dXeb\eR c J^bd_Xe^\F``Pe_aR^/-^9.1^A-2A-2>AAH^bR 4:A^`PeVVfZ\f[eae_fdW^KZe`d_e^`PfXXdOf`F ]f^a_dTf^bF``F^[db\fUfdbf^Y_FTf]aF^YF_^f`^_fQ `e][fd^\F`^YF_XF]]d^\f^[d]a_Zf_F^fb^]eQ bead_feW^ \dT_M^ Y_F]Fbae_F^ e^ Y_dY_fF F][`Z]fTF^]YF]F^\dXeb\e^\f^YF_XF]]d fb^]ebead_feW^Fba_d^H>A^Vfd_bf^\e``e^bdafQ Sf[e^\F`^\F[_Fad^\f^a_e]SF_fXFbadR c =dbd^e^[e_f[d^\F``PeVVfZ\f[eae_fd^aZaaF `F^]YF]F^YF_^f`^a_e]SF_fXFbad^\FV`f^fXXdQ Of`f^bdb[L'^KZF``F^_F`eafTF^e``e^[eb[F``eQ UfdbF^ \F``e^ a_e][_fUfdbF^ \F` YfVbd_eXFbad^F^\f^aZaaF^`F^Sd_Xe`faM^[db f^_F`eafTf^[dXYFb]f^]YFaaebaf^e`^Y_dSF]]fdQ bf]ae^\F`FVead^YF_^`F^dYF_eUfdbf^]Z[[F]Q ]fTF^ e``e^ TFb\faeW^ [dXF^ `fKZf\eaf^ \e` 0RGRR c N`^ Y_F]FbaF^ $eTTf]d^ \f^ TFb\fae#^ fb F]a_eaad^]e_M^eSSf]]d^Y_F]]d^`PJ`Od^\F`Q `P,SSf[fd^0fZ\fUfe_fd^\F`^@_fOZbe`F^\f^DeQ XFUfe^@F_XFR c De^YZOO`f[faMW^`F^Xd\e`faM^\f^Y_F]FbaeQ


UfdbF^ \F``F^ \dXeb\F^ F^ `F^ [db\fUfdbf \F``e^TFb\fae^]dbd^_FVd`eaF^\e``F^ CdbQ \fUfdbf^VFbF_e`f^fb^XeaF_fe^\f^TFb\faF^fXQ XdOf`fe_f^\F`FVeaF ^e``FVeaF^e`^Y_F]FbaF eTTf]dR DeXFUfe^@F_XFW^` ^^>6^bdTFXO_F^>AH> d_gXacNfYYdc`dY^eg]f_fPe^c !:77:6; 285)'$8;#9669))8;5:782: CBE9N%NBEN^0GEG1JDN^NE^+J@G1NJ ^9N^5GE9N@G^N++B*NDNJ1N^9GDG0J@G c Zebad^e``e^TFb\fae^]FbUe^fb[ebad) b 8fgcNNfa^fg]dgeZ?VdY^cg]cJae``cgfYL YfafgXafYf`^e^fgd`gOVY^egZ3dVYegf`^ac _fg cafg TS[WWg ]f_g Pdca`cg QWg Pf``edc SWTQ\ c =Z``e^OZ]ae^\dT_ebbd^F]]F_F^fb\f[eaF^`F ]d`F^VFbF_e`faM^\f^[Lf^Y_F]Fbae^`PdSSF_aeW [LF^YZ ^eb[LF^F]]F_F^YF_]dbe^\fTF_]e \e``PdSSF_FbaFW^f`^bdXF^\F`^VfZ\f[F^\F`Q `PF]F[ZUfdbFW^f`^bdXF^\F`^Y_dSF]]fdbf]ae \F`FVeadW^`e^\eae^\F``e^TFb\fae^F^f`^bZQ XF_d^\F``e^Y_d[F\Z_eR^ c EF]]Zbe^e`a_e^fb\f[eUfdbF^\FTF^F]]F_F eYYd]ae^]Z``e^OZ]aeR c N`^ aF_XfbF^ \f^ TF_]eXFbad^ \F`^ ]e`\d Y_FUUdW^bdb[L'^\FV`f^Z`aF_fd_f^dbF_fW^\fQ _faaf^F^]YF]F^[db]FVZFbaf^e``e^TFb\fae^; \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFR c DPdSSF_ae^\dT_M^[dbaFbF_F) c Q^N`^[dVbdXFW^bdXFW^`ZdVd^F^\eae^\f^beQ ][faeW^[d\f[F^Sf][e`FW^\dXf[f`fdW^]aead^[fQ Tf`FW^_F[eYfad^aF`FSdbf[d^\F`^]dVVFaad^[Zf eb\_M^ fbaF]aead^ `PfXXdOf`FW^ f`^ KZe`F \dT_M^ eb[LF^ Y_F]Fbae_]f^ e``e^ Z\fFbUe Sf]]eae^YF_^`e^TFb\faeR^ c Edb^]e_M^Yd]]fOf`F^fbaF]ae_F^`PfXXdOf`F e^]dVVFaad^\fTF_]d^\e^KZF``d^[LF^]daadQ ][_fTF^`PdSSF_aeR c =F^`PdSSF_FbaF^;^[dbfZVead^F^fb^_FVfXF \f^[dXZbfdbF^`FVe`F^\Ff^OFbfW^\dT_ebbd F]]F_F^ fb\f[eaf^ eb[LF^ f^ [d__f]Ydb\Fbaf \eaf^\F`^[dbfZVFR^ c EF``PfYdaF]f^\f^e[KZf]ad^e^afad`d^YF_]dQ be`F^\e^Ye_aF^\f^Zb^[dbfZVF^fb^_FVfXF^\f [dXZbfdbF^\Ff^OFbfW^d[[d__F^Y_d\Z__FW d`a_F^e``e^\f[Lfe_eUfdbF^\f^KZF]aPZ`afXdW F"^e_aRH76W^[dR^H W^`FaaR^SW^[d\f[F^[fTf`FW KZF``e^\F`^[dbfZVF^bdb^e[KZf_FbaF^\f^[Zf e`^> ^[dR^\F``e^XF\F]fXe^\f]Yd]fUfdbF bd_XeafTeR c Nb^ [e]d^ \f^ \f[Lfe_eUfdbF^ Y_F]Fbaeae [dbVfZbaeXFbaF^\e^Yf&^]dVVFaafW^\FTF F]]F_F^fb\f[ead^[d`Zf^[LF^eOOfe^`PF][`ZQ ]fTe^ Se[d`aM^ \f^ Sd_XZ`e_F^ FTFbaZe`f^ dSQ SF_aF^fb^eZXFbadR c =F^ `PdSSF_FbaF^ ;^ Xfbd_FbbFW^ `PdSSF_ae \dT_M^ F]]F_F^ ]daad][_faae^ \ef^ VFbfad_f Y_FTfe^eZad_fUUeUfdbF^\F`^0fZ\f[F^@ZaFQ `e_FR c =F^`PdSSF_FbaF^eVf][F^KZe`F^`FVe`F^_eYQ Y_F]FbaebaF^\f^e`a_d^]dVVFaadW^\dT_M^F]Q ]F_F^ e``FVead^ [F_afSf[ead^ \F`^ _FVf]a_d \F``F^fXY_F]F^\e^[Zf^_f]Z`afbd^f^YdaF_f^dTQ TF_d^`e^Y_d[Z_e^d^`Peaad^\f^bdXfbe^[LF VfZ]afSf[Lf^f^YdaF_fR^ c Q^N^\eaf^f\FbafSf[eafTf^\F`^OFbF^YF_^f`^KZe`F `PdSSF_ae^;^Y_dYd]aeR^ c Q^DPfb\f[eUfdbF^\F`^Y_FUUd^dSSF_adW^[LF bdb^Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfQ bfXd^fb\f[ead^bF``PeTTf]d^\f^TFb\faeW^e YFbe^\f^F][`Z]fdbFR c DPF]Y_F]]e^\f[Lfe_eUfdbF^\f^eTF_^Y_F]d Tf]fdbF^\F``e^YF_fUfe^\f^]afXeR c J``PdSSF_ae^\dT_M^F]]F_F^e``FVeae^Zbe^SdQ ad[dYfe^\F`^\d[ZXFbad^\f^f\FbafaM^\F``PdSQ SF_FbaFW^ bdb[L'^ Zb^ e]]FVbd^ [f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd^0febQ `Z[e^ .F__F``e^ Y_d[F\Z_e^ F]F[ZafTe bR/72H66/^1RGR#W^YF_^Zb^fXYd_ad^Ye_f^e` HA^YF_^[Fbad^\F`^Y_FUUd^dSSF_adW^e^afad`d \f^[eZUfdbFW^[LF^]e_M^a_eaaFbZae^fb^[e]d \f^_fSfZad^\F``Pe[KZf]adR^ c EF]]Zbe^]dXXe^]e_M^_f[LfF]aeW^fb^KZFQ ]ae^Se]F^KZe`F^Sdb\d^]YF]FR c DPdSSF_ae^Y_F]Fbaeae^;^f__FTd[eOf`FR^ c DPdSSF_FbaF^ ;^ aFbZad^ e^ Y_F]Fbae_]f^ e`Q `PZ\fFbUe^]dY_e^fb\f[eae^\f^YF_]dbeW^d^e XFUUd^\f^Xeb\eae_fd^XZbfad^\f^Y_d[Z_e ]YF[fe`F^ _f]Z`aebaF^ \e^ eaad^ YZOO`f[d^ d ][_faaZ_e^Y_fTeae^eZaFbaf[eae^[LF^\dT_M F]]F_F^\FYd]faeae^[dbaF]aZe`XFbaF^e``e \f[Lfe_eUfdbF^\F`^bdXfbeafTd^\F``e^YF_Q ]dbeW^ \e^ FSSFaaZe_]f^ bF`^ aF_XfbF^ \f^ [Zf e``Pe_aR?:4R^[dRH W^[RYR[RR c N^Y_d[Z_ead_f^`FVe`f^Yd]]dbd^Se_F^dSSF_aF YF_^YF_]dbe^\e^bdXfbe_FR c Nb^[e]d^\f^eVVfZ\f[eUfdbFW^`PdSSF_FbaF^; aFbZad^e`^TF_]eXFbad^\F`^]e`\d^Y_FUUd F^\FV`f^dbF_fW^\f_faaf^F^]YF]F^\f^TFb\fae bF`^aF_XfbF^fb\f[ead^fb^dSSF_aeW^dTTF_dW^fb Xeb[ebUeW^Fba_d^-A^Vfd_bf^\e``PeVVfZ\fQ [eUfdbF^XF\febaF^\ZF^\f]afbaf^e]]FVbf [f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e^^$bdQ aefd^0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZQ afTe^ bR/72H66/^ 1RGR#W^ Zbd^ KZe`F \fSSF_FbUe^ Y_FUUd^ \f^ eVVfZ\f[eUfdbF^ F Zbd^Ye_f^e`^TFbaf^YF_^[Fbad^\F`^Y_FUUd

* ]aF]]d^ KZe`F^ Y_F]ZXfOf`F^ fXYd_ad^ YF_ ]YF]FR^ c Nb^[e]d^\f^fbe\FXYfXFbadW^`e^eVVfZ\fQ [eUfdbF^]e_M^_FTd[eae^F^`PeVVfZ\f[eae_fd YF_\F_M^aZaaF^`F^]dXXF^TF_]eaFR^ c DPeVVfZ\f[eae_fd^Yda_M^TF_]e_F^f`^Y_FUUd a_eXfaF^XZaZd^fYdaF[e_fd^[db^Ve_ebUfe ]Z`^ XF\F]fXd^ fXXdOf`F^ dVVFaad^ \F``e TFb\faeW^_fTd`VFb\d]f^e``F^Oeb[LF^f`^[Zf F`Fb[d^]e_M^_FYF_fOf`F^Y_F]]d^f`^Y_dSF]Q ]fdbf]ae^\F`FVead^F^Y_F]]d^f`^]fad^\F`^@_fQ OZbe`FR^Nb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^]f Y_d[F\F_M^ e^ Ve_e^ ]Z``e^ Oe]F^ \F``e^ dSQ SF_ae^Yf&^e`aeR c N`^OFbF^TF__M^\FSfbfafTeXFbaF^eVVfZ\fQ [ead^e^[Lf^eT_M^FSSFaaZead^f`^_f`eb[fd^Yf& e`adR^ c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFR c De^TFb\fae^;^e^[d_Yd^F^bdb^e^Xf]Z_eW FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdR c De^TFb\fae^Sd_Ueae^bdb^;^]dVVFaae^e``F bd_XF^[db[F_bFbaf^`e^Ve_ebUfe^YF_^TfUf d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M^F]]F_F _FTd[eae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_F^ ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^\e``e^FTFbaZe`F^bF[F]]faM^\f^e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_F^ W^ YF_^ KZe`]fe]f^ XdafTd^ bdb [db]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbQ KZF^bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR^ c 0`f^fXXdOf`f^]e_ebbd^TFb\Zaf^`fOF_f^\e aZaaF^`F^Sd_Xe`faM^Y_FVfZ\fUfFTd`fR^ c DF^Sd_Xe`faM^V_eTebaf^]ZV`f^fXXdOf`f^]eQ _ebbd^[eb[F``eaF^e^[Z_e^F^]YF]F^\F``PeVQ VfZ\f[eae_fdR c =F^ d[[ZYeaf^ \e`^ \FOfad_F^ d^ \e^ aF_Uf ]FbUe^afad`dW^`e^`fOF_eUfdbF^\FV`f^fXXdOf`f ]e_M^FSSFaaZeae^e^[Z_e^\F`^CZ]ad\F^0fZQ \fUfe_fdR c BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eae_fdR c .F_^aZaad^KZebad^KZf^bdb^Y_FTf]ad^]f^eYQ Y`f[ebd^`F^TfVFbaf^bd_XF^\f^`FVVFR c Zebad^e``e^TFb\fae^[db^fb[ebadW^SF_XF `F^\f]Yd]fUfdbf^]dY_e^fb\f[eaFW^]F^[dXQ YeafOf`fW^Te`Vdbd^`F^bd_XF^\f^[Zf^eV`f^e_aaR ?7-W^?:AW^?:/^F^?:?^[RYR[R c 0`f^dSSF_Fbaf^\dT_ebbd^\f[Lfe_e_F^`e^Y_dQ Y_fe^_F]f\FbUe^bF`^Cf_[db\e_fd^\F`^@_fOZQ be`F^ \f^ DeXFUfe^ @F_XF^ d^ F`FVVF_F \dXf[f`fd^fb^DeXFUfe^@F_XFR c Zebad^e``e^TFb\fae^[db^fb[ebad) b 'P`dg g cNNfaf`^fg ]cJa=g ]fXcYd^eaf XafYYcg_9@YYcZdeRdc`fg:c^ead_fg0acL Zf]Vafg>YfZV^dJfgXafYYcgd_g;adOV`e_f ]dg8eUfRdeg;faUfgf`^acg_fgcafgTS[WW ]f_g Pdca`cg TFg NfOOaedcg SWTQ[g OVY^e Z3dVYegZc`^f`f`^fg]cUe`]eg]dgXeaL ^fZdXeRdc`fgd`gZea^eg_fPe_f\ c De^\dXeb\e^\dT_M^[dbaFbF_F) 8 ;]F^YF_]dbe^Sf]f[e)^Q^[dVbdXFW^bdXFW `ZdVd^F^\eae^\f^be][faeW^[d\f[F^Sf][e`FW \dXf[f`fd^F^_F]f\FbUeW^]aead^[fTf`FW^_F[eQ Yfad^aF`FSdbf[d^\F`^_f[LfF\FbaFI^fb^[e]d^`d ]aF]]d^]fe^[dbfZVeadW^f`^]Zd^_FVfXF^YeQ a_fXdbfe`FW^ [db^ fb\f[eUfdbF^ ^ KZe`d_e [dbfZVead^ fb^ _FVfXF^ \f^ [dXZbfdbF^ `FQ Ve`F^ ^\F``F^VFbF_e`faM^\F`^[dbfZVFR^ c J``e^ \dXeb\e^ \dT_ebbd^ F]]F_F^ e``FQ VeaF^[dYfF^Sdad]aeaf[LF^\f^Zb^Te`f\d^\dQ [ZXFbad^\f^f\FbafaM^F^\F^[d\f[F^Sf][e`F 8eb[LF^\F`^[dbfZVF^]F^fb^_FVfXF^\f^[dQ XZbfdbF^`FVe`F<R c Ze`d_e^\Faae^YF_]dbe^Sf]f[e^\dTF]]F Ye_aF[fYe_F^fb^KZe`faM^\f^afad`e_F^\f^dXdQ bfXe^\faae^fb\fTf\Ze`FW^\dT_M^F]]F_F^fbQ \f[eae^`e^Ye_afae^N5J^F^e``PdSSF_ae^\dT_M F]]F_F^e`a_F] ^e``FVeae^Zbe^_F[FbaF^TfQ ]Z_e^[eXF_e`F^\F``e^\faae^]aF]]eR . ;]F^]d[fFaM^d^FbaF)^\eaf^f\FbafSf[eafTfW fb[`Z]e^`e^Ye_afae^N5J^F2d^[d\f[F^Sf][e`FW _F[eYfad^aF`FSdbf[dW^bdb[L'^bdXFW^[dQ VbdXFW^`ZdVd^F^\eae^\f^be][fae^\F`^`FQ Ve`F^_eYY_F]FbaebaFR^ c J``e^\dXeb\e^\dT_ebbd^F]]F_F^e``FVeaf ]fe^Zbe^_F[FbaF^Tf]Z_e^[eXF_e`F^8\e``e KZe`F^_f]Z`af^`d^]aead^\F``e^]d[fFaM^d^FbaF F\^ f^ YdaF_f^ [dbSF_faf^ e``PdSSF_FbaF^ fb Z\fFbUe<^]fe^[dYfe^Sdad]aeaf[e^\f^Zb^TeQ `f\d^\d[ZXFbad^\f^f\FbafaM^\f^\Faad^dSSFQ _FbaFR $ ; e]]FVbd^ [f_[d`e_F^ bdb^ a_e]SF_fOf`F

c c c

c

c

c

Ye_f^e`^HA ^8\fF[f^YF_[Fbad<^\F`^Y_FUUd Oe]F^\Pe]aeW^e^afad`d^\f^[eZUfdbFW^fbaFQ ]aead^e$bdaefd^0feb`Z[e^.F__F``e^Y_d[FQ \Z_e^F]F[ZafTe^bR/72H66/^1RGR#R =f^Y_F[f]e^[LF^fb^[e]d^\f^Xeb[eae^eVQ VfZ\f[eUfdbFW^\Faad^e]]FVbd^]e_M^_F]afQ aZfad^fXXF\feaeXFbaFR BSSF_aF^fb^eZXFbad^\f^Zb^KZfbad) J^bd_Xe^\F``Pe_aR^?:/^[RYR[RW^eTTFbZad `Pfb[ebadW^Yd]]dbd^eb[d_e^F]]F_F^SeaaF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^HA^Vfd_bf^\e``e^Ve_eW^Xe^F]]F bdb^]dbd^FSSf[e[f^]F^f`^Y_FUUd^dSSF_ad^bdb ]ZYF_e^ \f^ H2?^ 8Zb^ KZfbad<^ KZF``d^ _eVQ VfZbad^bF``Pfb[ebadR .F_aebad^`PeVVfZ\f[eUfdbF^\fTF__M^\FSfQ bfafTe^\F[d_]f^HA^Vfd_bf^]FbUe^dSSF_aF^fb eZXFbadR^9fTFbZae^\FSfbfafTe^`PeVVfZ\fQ [eUfdbF^ \dT_M^ F]]F_F^ TF_]ae^ bFf^ ]F]Q ]ebae^Vfd_bf^]Z[[F]]fTf^`e^\fSSF_FbUe^\F` Y_FUUd^\f^eVVfZ\f[eUfdbF^XF\febaF^e]Q ]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F^fbaF]aead e$bdaefd^ 0feb`Z[e^ .F__F``e^ Y_d[F\Z_e F]F[ZafTe^ bR/72H66/^ 1RGR#bdb[L'^ f` TFbaf^YF_^[Fbad^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^]FXY_F^XF\febaF^e]]FVbd^[f_[dQ `e_F^bdb^a_e]SF_fOf`F^fbaF]aead^e^$bdaefd 0feb`Z[e^.F__F``e^Y_d[F\Z_e^F]F[ZafTe bR/726/^1RGR#^KZe`F^Y_F]ZXfOf`F^fXYd_ad YF_^]YF]FR @e`f^dSSF_aF^Yda_ebbd^F]]F_F^\FYd]faeaF Y_F]]d^`Pfb\f_fUUd^]dY_e^fb\f[eadW^bF``F Sd_XF^\f^[Zf^e``Pe_aR^?7H^[RYR[RW^Y_F]aeb\d [eZUfdbF^YF_^Zbe^]dXXe^Ye_f^e`^\dYYfd \F``e^[eZUfdbF^TF_]eae^YF_^`e^Ye_aF[fYeQ UfdbF^e``Pfb[ebadR^Nb^[e]d^\f^Y_F]FbaeQ UfdbF^ \f^ ae`f^ dSSF_aFW^ TF__M^ fb\Faae^ Zbe Ve_e^]F[db\d^`F^Y_FTf]fdbf^\f^[Zf^e``Pe_aR ?:/^[RYR[RR =F^bF]]Zbd^\FV`f^dSSF_Fbaf^fb^eZXFbad Ye_aF[fYe^ e``e^ Ve_e^ fb\Faae^ e^ bd_Xe \F``Pe_aR^?:/W^[dXXe^4W^[RYR[RW^`PeVVfZ\fQ [eUfdbF^\fTFbae^\FSfbfafTe^F^TF__M^Y_dQ bZb[feae^e^[e_f[d^\FV`f^dSSF_Fbaf^8]e`Td [LF^ _f[d__e^ Zb^ \d[ZXFbaead^F^ VfZ]afSfQ [ead^XdafTd<^`e^YF_\fae^\F``e^[eZUfdbFW^f` [Zf^ fXYd_ad^ ;^ a_eaaFbZad^ [dXF^ _fbTFQ bfFbaF^e^aZaaf^V`f^FSSFaaf^\e``PF]F[ZUfdbFR BVbf^\dXeb\e^\f^_F]afaZUfdbF^\F``e^[eZQ UfdbF^\dT_M^F]]F_F^fb\f_fUUeae^\eV`f^dSQ SF_Fbaf^e`^0fZ\f[F^\F``PG]F[ZUfdbFR^^

c

c

c c

c

c

c

c J55N=B^9N^5GE9N@J^JDDPNECJE@B^ 8^e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[R< N`^]daad][_faad^ !:77*; 96585!:; +- ", 3 ; \daad_F^[dXXF_[fe`f]ae^[db^]aZ\fd^ fb^CFa_e_d^e``e^Tfe^^(R^.f__fbd^bR^47W bdXfbead^fb^]d]afaZUfdbF^\F`^Y_F[F\FbaF^\FQ `FVead^[db^Y_dTTF\fXFbad^\F`^>HQ>42A/2>AA7W Tf]ae^ `Pd_\fbebUe^ \f^ TFb\fae^ bR^ [_dbR^ ??7/W FXebeae^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^fb^\eae >AQ>?2A?2>AA/^ [db^ [Zf^ ;^ ]aeae^ \f]Yd]ae^ `e TFb\fae^e``Pfb[ebad^\Ff^OFbf^YfVbd_eaf^bF`^XacL Zf]dUf`^cgfYfZV^dJcg`\gTQKBIFg6\>\ F^]dbd ]aeaF^\F`FVeaF^`F^_F`eafTF^dYF_eUfdbfW^^Tf]af^V`f e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[RW^^Tf]af^f^^Y_dTTFQ \fXFbaf^\F`^=fVR^^0G^\F`^H7QH:2A>2>AHAW^4Q /2A-2>AHAW^ A42A42>AHHW^ :Q62A62>AHHW >6Q4A2H>2>AHH^F^>-2HA2>AH> 1GE9G^EB@B c [LF^f`^^Vfd_bd^TKg4>::@A'gSWTQge__f cafgTH\WW Y_F]]d^f`^Y_dY_fd^]aZ\fd^fb^CFQ a_e_d^fb^Tfe^^(R^.f__fbd^bR^47W^]f^]Td`VF_M `Pfb[ebad^^fb^Zbf[d^^^`daad^^\Ff^^OFbf^^d`a_F \F][_faafW^YF_^f`^ 6944:;;.819 ]aeOf`fad^fb fVacgIQ\SSG[IFg8bdTebaea_FXf`e\ZF[FbQ adTFbaf]FaaF26:<R^ DF^ :%%9679; &252&9; 25 8'&957: [db^Y_fXd^_f`eb[fd^dOO`fVead_fd bdb^ Yda_ebbd^ F]]F_F^ fbSF_fd_f^ e^ fVac T\WWW[WW 8Xf``F2AA<R^ c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^ \f_faad^ fb^ [Zf^ f^ OFbfW^ XFV`fd^ \F][_faaf bF``F^ YF_fUfF^ \Ff^ CR@R,R^ fb^ eaafW^ F\^ e``F KZe`f^F]Y_F]]eXFbaF^]f^_fbTfeW^]f^a_dTebd

c

c

c

8eb[LF^fb^_F`eUfdbF^e`^aF]ad^Zbf[d^\f^[Zf e`^\F[_Fad^\F`^._F]f\FbaF^\F``e^1FYZOQ O`f[e^-^VfZVbd^>AAHW^bR^4:A<W^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFWe[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFI `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdR^ De^Y_F]FbaF^TFb\fae^Sd_Ueae^bdb^;^]dVQ VFaae^e``F^bd_XF^[db[F_bFbaf^`e^Ve_ebUfe YF_^TfUf^d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M F]]F_F^_f]d`ae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_FQ^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^ \e``PFTFbaZe`F^ bF[F]]faM^ \f^ e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafQW YF_^ KZe`]fe]f^ XdafTd^ bdb^ [db]f\F_eafW eb[LF^]F^d[[Z`afW^fb[dbd][fOf`f^d^[dXZbQ KZF^bdb^[db]f\F_eaf^fb^YF_fUfeW^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]FbQ \d]f^ \f^ [f ^ aFbZad^ [dbad^ bF``e^ Te`ZaeQ UfdbF^\Ff^OFbfR DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^ =F^F]f]aFbaf^e`^XdXFbad^\F``e^TFb\faeW FTFbaZe`f^ f][_fUfdbf^ F^ a_e][_fUfdbf^ ]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``e Y_d[F\Z_eR^ BVbf^ Z`aF_fd_F^ dbF_F^ \F_fQ TebaF^\e``e^TFb\fae^]e_M^e^[e_f[d^\F``PeVQ VfZ\f[eae_fdR Cfe][Zb^ dSSF_FbaFW^ YF_^ YdaF_^ F]]F_F eXXF]]d^e``Pfb[ebadW^\dT_M^Y_F]Fbae_FW Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^^\FQ `FVeadW^Fba_d^`F^d_F^H>R4A^\F`^Vfd_bd^SFQ _fe`F^ Y_F[F\FbaF^ `Pfb[ebadW^ F][`Z]d^ f` ]eOeadW^\dXeb\e^\f^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadW^fb^_FVd`e^[db^f`^Od``d^TfVFbaFW F^\dT_M^TF_]e_F^e^afad`d^\f^[eZUfdbFWZbe ]dXXe^Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F` Y_FUUd^Oe]F^\Pe]ae^F\^Zbe^]dXXe^Ye_f e`^H? ^^8KZfb\f[f^YF_^[Fbad<^\F`^Y_FUUd Oe]F^\Pe]ae^fb^[dbad^]YF]FW^[db^\ZF^\fQ ]afbaf^ e]]FVbf^ [f_[d`e_f^ bdb^ a_e]SF_fOf`f e``Pd_\fbF^\F`^]daad][_faad^Y_dSF]]fdbf]ae \F`FVeadR Ze`d_e^]fe^]aead^eUfdbead^bF``e^Y_d[FQ \Z_e^F]F[ZafTe^Zb^^C_F\fad^(db\fe_fdW^ef ]Fb]f^ \F``Pe_aR^ /H^ \F``e^ bZdTe^ DFVVF *eb[e_fe^ 89RDV]R^ H2A62H664^ bR^ 4:?<W `PeVVfZ\f[eae_fdW^f`^KZe`F^bdb^fbaFb\e^eTQ Te`F_]f^ \F``e^ Se[d`aM^ \f^ ]ZOFba_e_F^ bF` [dba_eaad^ \f^ SfbebUfeXFbadW^ \dT_M^ TF_Q ]e_F^^\f_FaaeXFbaF^e``Pf]afaZad^\f^[_F\fad Sdb\fe_fdW^ Fba_d^ f`^ aF_XfbF^ \f^ Vfd_bf^ >A \e``e^\eae^\F``PeVVfZ\f[eUfdbFW^`e^Ye_aF \F`^Y_FUUd^[d__f]Ydb\FbaF^e`^[dXY`F]Q ]fTd^[_F\fad^\F``d^]aF]]dR^ DPeVVfZ\f[eae_fdW^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^ \f^ ^ Vfd_bf^ /A^ \e``PeVVfZ\f[eUfdbFW \dT_M^ TF_]e_F^ e`^ Y_dSF]]fdbf]ae^ ^ \F`FQ VeadW^f`^]e`\d^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^ d^ \f^ e]]FVbeUfdbFW^ \F\daae^ `e Y_F]aeae^^[eZUfdbFW^bdb[L'^`PFTFbaZe`F ]e`\d^\F``F^]YF]FW^XF\febaF^\f]afbaf^e]Q ]FVbf^[f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e` XF\F]fXd^Y_dSF]]fdbf]aeR N^Ye_aF[fYebaf^e``Pe]ae^Lebbd^`e^Yd]]fOfQ `faM^\f^daaFbF_F^XZaZf^fYdaF[e_f^YF_^Zb^fXQ Yd_ad^Sfbd^e\^Zb^Xe]]fXd^\F`^7A2:A \F`^Te`d_F^\F``PfXXdOf`F^[dXF^]afXead bF``e^YF_fUfe^e^ae]]f^F^[db\fUfdbf^F[dbdQ Xf[LF^Y_F]aeOf`faf^\e^dVbf^]fbVd`e^Oeb[e [LF^Le^]afYZ`ead^[dbTFbUfdbF^[db^f`^@_fQ OZbe`F^\f^.ed`eR^^NbSd_XeUfdbf^]Z``F^OebQ [LF^ e\F_Fbaf^ e``PfbfUfeafTe^ Y_F]]d^ `e Ceb[F``F_fe^\F``F^G]F[ZUfdbf^\F`^@_fOZQ be`F^\f^.ed`eR ,be^[dYfe^\F`^Y_F]FbaF^TF__M^eSSf]]d^F" e_aR^/6A^[RYR[W^e`a_e^[dYfe^TF__M^YZOO`fQ [eaeW^YF_^F]a_eaadW^^]Z``PF\fUfdbF^\dXFQ bf[e`F^\F`^^KZdaf\febd^f`^9dXebf^9F``e Ce`eO_feW^]Z`^XFb]f`F^J=@G^F^]Z`^]fad^fbQ aF_bFa^ !!!Re]aFRFZVFbfZ]Rfa^ F !!!Re]aFebbZb[fRfaR N`^\FOfad_F^d^f`^[Z]ad\F^[db]Fbaf_ebbd^`e Tf]fae^ \F`^ [dXYFb\fd^ Yd]ad^ fb^ TFb\fae bFf^a_F^Vfd_bf^ebaF[F\Fbaf^`Pfb[ebadW^\e``F d_F^H-R4A^e``F^d_F^H:R4AR^9F``F^FTFbaZe`f Tf]faF^\dT_M^F]]F_F^\eae^[dXZbf[eUfdbF e`^9F`FVeadR J^bd_Xe^\F``Pe_aR^?6H^Of]^[RYR[R^aZaaF^`F eaafTfaM^ _F`eafTF^ e``e^ TFb\fae^ ]e_ebbd F]Y`FaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadR *GEN^=B@@B.B=@N^J9^NECJE@B EcUV`fg]dgggg;ca^caeg2E15ge__egJdeg$d^L ^cadcg>Ue`Vf_fg`7gQF EcUX_fYYcg Pd=g e]dOd^cg eg Xf`Ydc`f ZcY^d^Vd^cg]egV`9eafege^^afRRe^e[gfg]e ]VfgZcaXdg]dgNeOOadZe\gA_gXadUcgZcaXc ]dgNeOOadZegg-gY^e^cgafe_dRRe^cgd`^ca`c


e__9e``cg TIQIg fg Zdc-g XafZf]f`^fL Uf`^fge__9e^^VeRdc`fg`f__egRc`eg]fP_d Y^aVUf`^dgVaOe`dY^dZd[ggUf`^afgd_gYfL Zc`]cgZcaXcg]dgNeOOadZeg-gY^e^cggafeL _dRRe^cg`fP_dge``dgTIGHBTIGG\gEc`Nd`d, Y^ae]egZcUV`e_f[gYZVc_egf_fUf`^eaf[ XacXadf^=g1\g(\[gXacXadf^=gA\g:\ggcgfJf`L ^Ve_dg adYXf^^dJdg eJf`^dg ZeVYe[g Ye_Jc e_^ad\gEe^eY^cgNeOOadZe^dg]f_gEcUV`f ]dg;ca^cae,gNcP_dcgQFgXea^dZf__egIKgYVO F[g $deg $d^^cadcg >Ue`Vf_f[g 0g TLSLQLK[ Ze^\g)BS[gaf`]d^egfVacgH\KWK[WGgPdVY^e ]f`V`Zdeg]dgJeadeRdc`fgXfagZeUOdcg]d ]fY^d`eRdc`fg ]9VYc[g eUX_deUf`^cg f NVYdc`fgXafYf`^e^ege__9*^fg]dgEcYf`Re d`g]e^egFBWTBTIFHgXac^\g`\gQF\ c .F_^ Zbe^ \FaaeV`feae^ \F][_fUfdbF^ \FV`f fXXdOf`f^]f^_fbTfe^e``F^[db]Z`FbUF^aF[bfQ [LF^fb^eaaf^^_f]YFaafTeXFbaF^e^Sf_Xe^\F`Q `PNbVR^ Df`febe^ +e_fe^ (F__e_d^ F^ \F``PNbVR (_eb[F][d^9d[fXdR^ c Jf^ ]Fb]f^ F^ YF_^ V`f^ FSSFaaf^ \F``e^ `FVVF /72:?^F^\F``e^bd_XeafTe^TfVFbaFW^\e``F YF_fUfF^ \Ff^ CR@R,R^ fb^ eaafW^ F\^ e``F^ KZe`f F]Y_F]]eXFbaF^]f^_fbTfeW^_f]Z`ae^[LF) c QZbd^\Ff^\ZF^SeOO_f[eaf^;^]aead^_Fe`fUQ Uead^fb^\fSSd_XfaM^e``e^[db[F]]fdbF^F\f`fQ Ufe^b ^>7277^\F`^>:2AH2H677^_f`e][feae^\e CdXZbF^\f^@d_ad_eI c Qfb^\eae^4A2A62H6:-^;^]aeae^Y_F]Fbaeae \dXeb\e^\f^[db\dbd^F\f`fUfdWae`F^_f[LfFQ ]ae^\f^[db\dbd^F_e^Td`ae^e\^daaFbF_F^`e [db[F]]fdbF^F\f`fUfe^fb^]ebead_fe^_F`eQ afTe^e``e^Te_feUfdbF^\F``e^[dYF_aZ_e^\F` SeOO_f[ead^W^\F``e^TF_eb\e^e`^Yfebd^aF__e F^\F`^\FYd]fad^ebbF]]d^e``e^Yf][fbeI c Q^f`^SeOO_f[ead^F\fSf[ead^fb^\eae^ebaF[FQ \FbaF^ e`^ H6/>^ ;^ ]aead^ _f]a_ZaaZ_ead^ bF` >AA:^^[db^Y_dTTF\fXFbad^eXXfbf]a_eQ afTd^_f`e][fead^\e`^CdXZbF^\f^@d_ad_eI c QTf^ ]dbd^ F`FXFbaf^ \f^ [dYF_aZ_e^ fb eXfebadW^YF_^`e^KZe`^[d]e^]f^_fbTfe^e``e YF_fUfe^\F``PNbVR^9d[fXdR c N`^ aZaad^ XFV`fd^ Y_F[f]ead^ bF``F^ [db]ZQ `FbUF^aF[bf[LF^fb^eaafR c Nb^dVbf^[e]d^`P^eVVfZ\f[eae_fdW^_f[d__FbQ \dbF^f^Y_F]ZYYd]afW^Yda_M^eTTe`F_]f^\F``F \f]Yd]fUfdbf^\f^[Zf^e``Pe_aR^/-^\F`^TfVFbaF @R,R^]Z``PF\f`fUfe^\f^[Zf^e`^9R.R1R^-2-2>AAH bR^ 4:A^ F^ \f^ [Zf^ e``Pe_aR^ /AW^ 5N^ [dXXeW \F``e^[faeae^^^`FVVF^/72:?^F^\f^dVbf^e`a_e bd_Xe^TfVFbaFR c N`^ aZaad^ XFV`fd^ Y_F[f]ead^ bF``e^ [db]ZQ `FbUe^aF[bf[e^fb^eaafR c +eVVfd_f^ fbSd_XeUfdbf^ Y_F]]d^ `e^ CebQ [F``F_fe^\F``F^G]F[ZUfdbf^F\^f`^Y_dSF]]fdQ bf]ae^9F`FVeadR c =f^YZOO`f[Lf^bF``F^Sd_XF^\f^[Zf^]dY_eR CFa_e_d^`f^>-2HA2>AH> A_gXacNfYYdc`dY^eg]f_fPe^c :77*; 96585!:; 8)!296: CCCCC J55N=B^9N^5GE9N@J^JDDPNECJE@B^ 8^e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[R< N`^]daad][_faad^ !:77*; 96585!:; +- ", 3 ; \daad_F^[dXXF_[fe`f]ae^[db^]aZ\fd^ b^CFa_e_d^e``e^Tfe^^(R^.f__fbd^bR^47W bdXfbead^fb^]d]afaZUfdbF^\F`^Y_F[F\FbaF^\FQ `FVead^[db^Y_dTTF\fXFbad^\F`^>HQ>42A/2>AA7W Tf]ae^ ^ `Pd_\fbebUe^ \f^ TFb\fae^ bR^ [_dbR^ /6H-W FXebeae^^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^fb^\eae >/2H>2>AA?^[db^[Zf^;^]aeae^\f]Yd]ae^`e^TFbQ \fae^e``Pfb[ebad^\Ff^OFbf^YfVbd_eaf^bF`^XacZfL ]dUf`^cgfYfZV^dJcg`\ggTHBITg6\>\A\ F^]dbd ]aeaF^\F`FVeaF^`F^_F`eafTF^dYF_eUfdbf^W^Tf]af^V`f e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[R^W^Tf]ad^f`^Y_dTQ TF\fXFbad^\F`^>62AH2>AHAF^\F`^H72AH2>AH> 1GE9G^EB@B c [LF^ f`^ ^ Vfd_bd^ TKBWTBSWTQ[g e__fg caf TH\QWgY_F]]d^f`^Y_dY_fd^]aZ\fd^fb^CFa_e_d fb^Tfe^^(R^.f__fbd^bR^47W^]f^]Td`VF_M^^`PfbQ [ebad^fb^^\f]afbaf^`daaf^^^\Ff^^OFbf^d`a_F^\FQ ][_faafR^ c De^TFb\fae^eTTfFbF^^^bF``d^]aead^\f^Seaad F^\f^\f_faad^fb^[Zf^f^OFbfW^XFV`fd^\F][_faaf bF``e^ YF_fUfe^ \F`^ CR@R,R^ fb^ eaafW^ F\^ e``e KZe`F^ F]Y_F]]eXFbaF^ ]f^ _fbTfeW^ ]f^ a_dQ Tebd^8eb[LF^fb^_F`eUfdbF^e`^@R,R^\f^[Zf^e` 9R.R1R^-^VfZVbd^>AAHW^bR^4:A<W^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFI `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdR^ c De^Y_F]FbaF^TFb\fae^Sd_Ueae^bdb^;^]dVQ VFaae^e``F^bd_XF^[db[F_bFbaf^`e^Ve_ebUfe YF_^TfUf^d^Xeb[ebUe^\f^KZe`faMW^^b;^Yda_M F]]F_F^_f]d`ae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_FW^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ

* Tebaf^ \e``PFTFbaZe`F^ bF[F]]faM^ \f^ e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_FW^^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR c DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^=F^F]f]aFbaf^e`^XdXFbad \F``e^TFb\faeW^FTFbaZe`f^f][_fUfdbf^F^a_eQ ][_fUfdbf^]e_ebbd^[eb[F``eaF^e^]YF]F^F [Z_e^ \F``e^ Y_d[F\Z_eR^ ^ BVbf^ Z`aF_fd_F dbF_F^\F_fTebaF^\e``e^TFb\fae^]e_M^e^[eQ _f[d^\F``PeVVfZ\f[eae_fdR c Cfe][Zb^ dSSF_FbaFW^ YF_^ YdaF_^ F]]F_F eXXF]]d^e``Pfb[ebadW^\dT_M^Y_F]Fbae_FW Y_F]]d^f`^]dY_e^fb\f[ead^^]aZ\fdW^^Fba_d^`F d_F^H>R4A^\F`^Vfd_bd^SF_fe`F^Y_F[F\FbaF `Pfb[ebadW^F][`Z]d^f`^]eOeadW^^\dXeb\e^\f Ye_aF[fYeUfdbF^e``Pfb[ebadW^fb^_FVd`e^[db f`^Od``d^TfVFbaFW^F^\dT_M^TF_]e_F^e^afad`d \f^ [eZUfdbFWZbe^ ]dXXe^ Ye_f^ e`^ HA 8\fF[f^YF_^[Fbad<^\F`^Y_FUUd^Oe]F^\Pe]ae F\^Zbe^]dXXe^Ye_f^e`^H? ^^8KZfb\f[f^YF_ [Fbad<^\F`^Y_FUUd^Oe]F^\Pe]ae^fb^[dbad ]YF]FW^[db^\ZF^\f]afbaf^e]]FVbf^[f_[d`e_f bdb^a_e]SF_fOf`f^e``Pd_\fbF^\F`^]daad][_faad Y_dSF]]fdbf]ae^\F`FVeadR^^ c Ze`d_e^]fe^]aead^eUfdbead^bF``e^Y_d[FQ \Z_e^F]F[ZafTe^Zb^^C_F\fad^(db\fe_fdW^ef ]Fb]f^ \F``Pe_aR^ /H^ \F``e^ bZdTe^ DFVVF *eb[e_fe^ 89RDV]R^ H2A62H664^ bR^ 4:?<W `PeVVfZ\f[eae_fdW^f`^KZe`F^bdb^fbaFb\e^eTQ Te`F_]f^ \F``e^ Se[d`aM^ \f^ ]ZOFba_e_F^ bF` [dba_eaad^ \f^ SfbebUfeXFbadW^ \dT_M^ TF_Q ]e_F^^\f_FaaeXFbaF^e``Pf]afaZad^\f^[_F\fad Sdb\fe_fdW^ Fba_d^ f`^ aF_XfbF^ \f^ Vfd_bf^ >A \e``e^\eae^\F``PeVVfZ\f[eUfdbFW^`e^Ye_aF \F`^Y_FUUd^[d__f]Ydb\FbaF^e`^[dXY`F]Q ]fTd^[_F\fad^\F``d^]aF]]dR^ c DPeVVfZ\f[eae_fdW^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^ \f^ /A^ Vfd_bf^ \e``PeVVfZ\f[eUfdbFW \dT_M^ TF_]e_F^ e`^ Y_dSF]]fdbf]ae^ \F`FQ VeadW^f`^]e`\d^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^ d^ \f^ e]]FVbeUfdbFW^ \F\daae^ `e Y_F]aeae^[eZUfdbFW^bdb[L'^`PFTFbaZe`F ]e`\d^\F``F^]YF]FW^XF\febaF^\f]afbaf^e]Q ]FVbf^[f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e` XF\F]fXd^ Y_dSF]]fdbf]aeR^ Nb^ [e]d^ \f fbe\FXYfXFbad^`PeVVfZ\f[eae_fd^]e_M^\fQ [Lfe_ead^\F[e\Zad^\e`^\f_faadW^[db^[db]FQ VZFbaF^YF_\fae^\F``e^[eZUfdbF^e^afad`d^\f XZ`ae^]e`Td^`PFTFbaZe`F^[db\ebbe^e^YeQ Ve_F^ `e^ \fSSF_FbUe^ \f^ [Zf^ e``e^ ]F[db\e Ye_aF^\F``Pe_aR^?:7^[RYR[RR c N^Ye_aF[fYebaf^e``Pe]ae^Lebbd^`e^Yd]]fOfQ `faM^\f^daaFbF_F^XZaZf^fYdaF[e_f^YF_^Zb^fXQ Yd_ad^Sfbd^e\^Zb^Xe]]fXd^\F`^7A2:A \F`^Te`d_F^\F``PfXXdOf`F^[dXF^]afXead bF``e^YF_fUfe^e^ae]]f^F^[db\fUfdbf^F[dbdQ Xf[LF^Y_F]aeOf`faf^\e^dVbf^]fbVd`e^Oeb[eR DF^Oeb[LF^e\F_Fbaf^e``PfbfUfeafTe^]dbd^`F ]FVZFbaf)^Q*eb[e^+dbaF^9Ff^.e][Lf^9f =fFbe^=RYRe^(f`fe`F^\f^.ed`e^8^9f_FUfdbF \f^1FVVfd^Ce`eO_fe^Q^]Faad_F^._d\daaf^1FQ aef`^Q^5fe`F^Ce`eO_fe^JbVd`d^5f[d^=R^Jbbe :6H4H^ 1FVVfd^ Ce`eO_fe A6-?24?4/-?2/7:<^ I^ Q,bf[_F\fa^ *eb[e =RYRe^ JVFbUfe^ ,bf[_F\fa^ \f^ Cd]FbUe WH>7^ebVR^@eV`feXFbad^W^CR]d^+eUUfbf^WR c N^Ye_aF[fYebaf^e``Pe]ae^]dbd^YF_aebad^fbQ Tfaeaf^e^[dbaeaae_FW^KZe`d_e^Tf^eOOfebd^fbQ aF_F]]FW^`F^Oeb[LF^[dbTFbUfdbeaFRR c ,be^[dYfe^\F`^Y_F]FbaF^TF__M^eSSf]]e^F" Y_fXd^[dXXe^e_aR^/6A^[RYR[W^e`a_e^[dYfe TF__M^YZOO`f[eae^]Z``PF\fUfdbF^\dXFbfQ [e`F^\F`^^KZdaf\febd^$N`^9dXebf^\F``e^CeQ `eO_fe#W^ ]Z`^ +Fb]f`F^ $J]aF#^ F^ ]Zf^ ]faf fbaF_bFa^ !!!Re]aFRFZVFbfZ]Rfa^ F !!!Re]eaFebbZb[fRfaR c N`^\FOfad_F^d^f`^[Z]ad\F^[db]Fbaf_ebbd^`e Tf]fae^ \F`^ [dXYFb\fd^ Yd]ad^ fb^ TFb\fae bFf^a_F^Vfd_bf^ebaF[F\Fbaf^`Pfb[ebadW^\e``F d_F^H-R4A^e``F^d_F^H:R4AR^9F``F^FTFbaZe`f Tf]faF^\dT_M^F]]F_F^\eae^[dXZbf[eUfdbF e`^Y_dSF]]fdbf]ae^9F`FVeadR^ c J^bd_Xe^\F``Pe_aR^?6H^Of]^[RYR[R^aZaaF^`F eaafTfaM^ _F`eafTF^ e``e^ TFb\fae^ ]e_ebbd F]Y`FaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadR *GEN^=B@@B.B=@N^J9^NECJE@B 8cZe_d^=g(faPeUc^^cgPd=ge__eg_cZe_d^e g@ZL ?VeNf^d]eg Lg ]f_g ZcUV`fg ]dg @Z?VeXXfYe 2E15 -3003;(*; / %ePeRRd`c[gVOdZe^cge_gXde`c YfUd`^faae^cg]dgV`gNeOOadZe^cgZ3fgYd f_fJeg Xfag e_^adg ]Vfg Xde`dg NVcadg ^faae[ Zf`Yd^cgd`gEe^eY^cg+eOOadZe^dge_gNcP_dc `\gTG\g0ea^\gSISg1VO\gFg[gEe^\gEBSgZc`L YdY^f`Reg FWg U?\g LXde`cg 1\Tg 2YZ3f]e SGSIBGF5g[g]f__egZc`YdY^f`Reg]dgFWgU?\ [gYVXfaNdZdfg_ca]egIKgU?[gZc`Nd`e`^fgge

YV]ggZc`gUePeRRd`cgZf`Yd^cgge_ggNcP_dc TGgX\__egSISgYVOgTSgfgYVg^afg_e^dgZc` Zca^fg ZcUV`fg Zf`Yd^eg g e_g NcP_dcg TG X\__eg SISg YVOg TMg YVg ZVdg Je`^eg ]dad^^d afe_dg d`g UdYVaeg XacXcaRdc`e_fg e_g JeL _cafg]f__egXacXadf^=\g #6944:;8;.819;! 8178;fVacgMH\KWW[WWg 8[fbQ KZebae]FfXf`eKZeaa_d[Fbad2AA<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^bdb^Yd]]dbd^F]]F_F^fbSFQ _fd_f^e\^fVacgT\WWW[WW 8Xf``F<R^ -3003;(*; / %ePeRRd`c[gVOdZe^cge_gXde`c YfUd`^faae^cg]dgV`gNeOOadZe^cg]dgUePL Pdcafg Zc`YdY^f`Reg g Z3fg Ydg f_fJeg Xfa e_^adg]VfgXde`dgNVcadg^faae[gZf`Yd^cgd` Ze^eY^cg NeOOadZe^dg e_g NcP_dcg TGg X\__e SISg YVOg I[g Ee^\g EBSg Zc`YdY^f`Reg IT U?\g LXde`cg 1\T2YZ3f]eg `\g SGSFBGF5g [ ]c^e^cg]dgYfaJdRdgdPdf`dZdgd`^fa`d[g]f__e YVXfaNdZdfg]dgU?\gIT[gYVXfaNdZdfg_ca]e TWFgU?\[gZc`Nd`e`^fgeg`ca]gZc`gUeL PeRRd`cgZf`Yd^cge_gNcP_dcgTGgX\__fgSIS YVOgFgfgYVg^afg_e^dgZc`gZca^fgZf`Yd^ege_ NcP_dcgTGgX\__egSISgYVOgTMgYVgZVdgJe`^e ]dad^^dgafe_dgd`gUdYVaegXacXcaRdc`e_fge_ Je_cafg]f__egXacXadf^=\ #6944:;8;.819;! 8178; fVacgGW\SWW[WW 8]FaQ aebaeXf`e\ZF[Fbad2AA<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacgTWWW[WWg8Xf``F2AA<R^ c Jf^ ]Fb]f^ F^ YF_^ V`f^ FSSFaaf^ \F``e^ `FVVF /72:?^F^\F``e^bd_XeafTe^TfVFbaFW^\e``e YF_fUfe^ \F`^ CR@R,R^ fb^ eaafW^ F\^ e``F^ KZe`f F]Y_F]]eXFbaF^]f^_fbTfeW^_f]Z`ae^[LF) c Qf`^SeOO_f[ead^\f^[Zf^Sebbd^Ye_aF^V`f^fXQ XdOf`f^YfVbd_eaf^F3^]aead^F\fSf[ead^]Z``e Oe]F^\F``e^`f[FbUe^\f^[d]a_ZUfdbF^^\f^[Zf e`^ Y_daR^ 74HQ^ Y_eaR^ G\f`fUfe^ bR^ 4>:^ \F` >A2/2H677^F^]Z[[F]]fTe^[db[F]]fdbF^\f Te_febaF^bR^:A^^\F`^4A2H>2H67:QY_eaR^G\fQ `fUfe^bR^4:42H67:I c Q\e`^ [dbS_dbad^ \FV`f^ F`eOd_eaf^ Y_dVFaQ aZe`f^[db^KZebad^_f][dba_ead^fb^]F\F^\f ]dY_e``ZdVdW^]dbd^FXF_]F^e`[ZbF^Xd\fQ Sf[LF^_f]YFaad^e``F^Y_FTf]fdbf^\F``e^[dbQ [F]]fdbFW^ a_e^ [Zf^ `e^ ]Z\\fTf]fdbF \F``PfbaF_d^Yfebd^]FXfbaF__ead^W^fb\f[ead fb^ Y_dVFaad^ [dXF^ Yfebd^ aF__eW^ fb^ \ZF ZbfaM^fXXdOf`fe_f^[dfb[f\Fbaf^[db^f^XeQ VeUUfbf^dVVFaad^\f^YfVbd_eXFbadW^bdbQ [L'^`e^[_FeUfdbF^]Z`^`ead^bd_\^^\f^Zbe Yd_ae^\f^e[[F]]d^e``e^ZbfaM^fXXdOf`fe_F [Fb]fae^e`^SdV`fd^H7^^Ye_aR^>6>^]ZO^:^F\ eb[d_e^ `e^ _Fe`fUUeUfdbF^ \f^ Zb^ OeVbd bF``PebVd`d^]Z\^F]a^^\F`^Y_F\Faad^Yfebd aF__e^W^e^]F_TfUfd^\F``PeaaZe`F^XeVeUUfbd [Fb]fad^e`^SdV`fd^H7^^Ye_aR^>6>^]ZO^6^W^[db a_e]`eUfdbF^\F``e^Ye_FaF^]Z\^^\f^[f_[e^H?A X^TF_]d^]Z\^^F^[_FeUfdbF^\f^Zbe^`Z[F^]Z` S_dbaF^BTF]a^^e^]F_TfUfd^\F``d^]aF]]d^XeQ VeUUfbdR c Qae`f^Xd\fSf[LF^^_f]Z`aebd^_fYd_aeaF^bF``F _F`eafTF^Y`ebfXFa_fF^[eae]ae`f^^Y_F]FbaeaF Y_F]]d^ `P,@G^ ^ \f^ Cd]FbUe^ fb^ \eae >H2H>2H67:^I c Qd[[d__F^Se_^_f`FTe_F^[LF^ae`f^Xd\fSf[LF _f]Z`aebd^ fb^ e[[d_\d^ [db^ `e^ `f[FbUe^ \f eOfaeOf`fae3^F\^Z]eOf`fae3^_f`e][feae^\e`^]fbQ \e[d^\F`^[dXZbF^\f^J[KZeYYF]e^fb^\eae >:2H>2H67:^ [db^ bZXF_d^ Y_eaf[e^ 4>:W bdb[L'^_f]Z`aebd^_fYd_aeaF^bF``F^Y`ebfXFQ a_fF^[eae]ae`fI c QV`f^fXXdOf`f^bdb^Y_F]Fbaebd^SfbfaZ_F^\f Ye_af[d`e_F^Y_FVfd^^d^\f^[e_eaaF_F^d_beQ XFbae`F^ W^ b'^ F]f]adbd^ Tfb[d`f^ e_af]af[fW ]ad_f[f^d^e`OF_VLfF_fR c N`^ aZaad^ XFV`fd^ Y_F[f]ead^ bF``F^ [db]ZQ `FbUF^aF[bf[LF^fb^eaafR c Nb^dVbf^[e]d^`P^eVVfZ\f[eae_fdW^_f[d__FbQ \dbF^f^Y_F]ZYYd]afW^Yda_M^eTTe`F_]f^\F``F \f]Yd]fUfdbf^\f^[Zf^e``Pe_aR^/-^\F`^TfVFbaF @R,R^]Z``PF\f`fUfe^\f^[Zf^e`^9R.R1R^-2-2>AAH bR^ 4:A^ F^ \f^ [Zf^ e``Pe_aR^ /AW^ 5N^ [dXXeW \F``e^^`FVVF^/72:?^F^\f^dVbf^e`a_e^bd_Xe TfVFbaFR

c +eVVfd_f^ fbSd_XeUfdbf^ Y_F]]d^ `e^ CebQ [F``F_fe^\F``F^G]F[ZUfdbf^F\^f`^Y_dSF]]fdQ bf]ae^9F`FVeadR c 9e``e^C@,^fb^eaaf^_f]Z`ae^[LF^Zbd^\Ff^XeQ VeUUfbf^ F3^ e\fOfad^ e\^ eaafTfaM^ [dXXF_Q [fe`F^`3e`a_d^e\^dSSf[fbeR =f^YZOO`f[Lf^bF``F^Sd_XF^\f^[Zf^]dY_eR CFa_e_d^`f^^H>2HA2>AH> A_g0acNfYYdc`dY^eg]f_fPe^cgg :77*; 96585!:; 8)!296: CCCCC J55N=B^9N^0J1J^J^=G0,N@B^ 9N^NE@G15GE,@J^B((G1@J^9N^J,+GE@B 9N^=G=@B 8^e_aaR^?:/^F^?6H^Of]^[RYR[R< N`^]daad][_faad^ !:77*; 96585!:; +- ", 3 \daad_F^[dXXF_[fe`f]ae^[db^]aZ\fd^ fb^CFa_e_d^e``e^^Tfe^(R^.f__fbd^bR^47W^ bdXfbead^fb^]d]afaZUfdbF^\F`^Y_F[F\FbaF^\FQ `FVead^[db^Y_dTTF\fXFbad^\F`^>HQ>42A/2>AA7W 5N=@B Q`Pd_\fbebUe^\f^TFb\fae^bR^[_dbR^6/7-W^FXeQ beae^ ^ \e`^ 0fZ\f[F^ \F``PG]F[ZUfdbF^ fb^ \eae HH2HH2>AA/^[db^[Zf^;^]aeae^\f]Yd]ae^`e^TFb\fae e``Pfb[ebad^ \Ff^ OFbf^ YfVbd_eaf^ bF` XacZf]dL Uf`^cgfYfZV^dJcg`\ggGIBIGg6\>\A\g F^]dbd ]aeaF^\F`FVeaF^`F^_F`eafTF^dYF_eUfdbfW^Tf]af^V`f e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[R^Tf]af^f^Y_dTTF\fQ XFbaf^ \F`^ =fVbd_^ 0G^ \F`^ HH2H>2>AA:W^ >AQ > H 2 A ? 2 > A A 6 W H 6 2 A > 2 > A H A W 4Q/2A-2>AHAWH2HA2>AHAW>H2H>2>AHAW >2A42>AHHW^ :Q62A62>AHHW^ H/QH?2A>2>AH>^ F H42A72>AH>I f`^^TF_Oe`F^fb^\eae^H 2HA2>AH>^^[db^f`^KZe`F^]f ;^ \ead^ eaad^ \F``PeVVfZ\f[eUfdbF^ Y_dTTf]d_fe YF_^f`^Y_FUUd^\f^FZ_dI Z3fg]cXcg_9d`Ze`^cgYc`cgY^e^fgXafYf`^e^f ad^Ve_dgcNNfa^fgd`geVUf`^cg]f_gYfY^cgf"gea^\ MFKgZ\X\Z\ggXfagd_gXafRRcg]dgfVacggTQ\GKQ[WW 2^af]dZdUd_eYf^^fZf`^c?Veae`^e^afBWW5gXfa d_g_c^^cg`VUfacgQgf]gfVacgQ\QWT[WWg2^afUdL _e^afZf`^cV`cBWW5gXfagd_g_c^^cg`VUfacgK\ 5G1N(NCJ@J De^Te`f\faM^\F``F^dSSF_aF^fb^eZXFbad 1N@GE,@B CLF^d[[d__F^fb\f_F^`e^Ve_e^F"^e_aR^?74^[RYR[ ]Z^\FaaF^dSSF_aF^fb^eZXFbad^\f^]F]ad 1GE9G^EB@B c CLF^f`^^Vfd_bd^TKgPf``edcgSWTQggge__f cafgTI\QW[gY_F]]d^f`^Y_dY_fd^]aZ\fd^fb^CFQ a_e_d^fb^Tfe^^(R^.f__fbd^bR^47W^]f^]Td`VF_M `e^Ve_e^]Z^\FaaF^&8

2:62;:%%9679;\f^FVac TQ\GKQ[WWg8a_F\f[fXf`e]FaaF[FbadKZe_ebQ aea_F2AA<^ YF_^ f`^ `daad^ bR^ 4^ ^ F\^ fVac Q\QWT[WW 8a_FXf`ea_F[FbadZbd2AA<^^^YF_^f` `daad^ bR^ /^ ^ ^ [db^ :%%9679; &252&9; 25; 8' &957: \f^fVacgMWW[WW 8[fbKZF[Fbad2AA< YF_^`e^TFb\fae^^fb^^\ZF^]FYe_eaf^`daafW^\F``e YfFbe^Y_dY_fFaM^\Ff^OFbf^e]]dVVFaaeaf^e\ F]Y_dY_feUfdbFW^F^Y_F[f]eXFbaF^) -3003; / eOd^eRdc`fg]dg^dXcgfZc`cUdZcge_ Xde`cgYfZc`]cgVOdZe^egd`g1e`^eg%eade ]f_gEf]ac[g$deg:eRdc`e_f[gZcUXcY^e ]egZcaad]cdc[gZVZd`e[g]Vfg \Z\[gadXcY^dL P_dc[g]dYdUXfP`c[gYfdgY^e`Rf[g^afgOe_L Zc`dgXfa^d`f`RegfYZ_VYdJeg2]dgZdaZegSS U?\5gf]gV`g_cZe_fg]fXcYd^cg2]dgZdaZe U?\gQ5[gXcY^dgYV_g_e^cgfY^DgZc`Nd`e`^f Zc`g $deg :eRdc`e_f[g Y^fYYeg ]d^^eg f] faf]dg @\Dg Ze^eY^cg NeOOadZe^dg ]f_g ZcL UV`fg]dg1e`^eg%eadeg]f_gEf]ac[gNcP_dc TH[gXea^\gKITgYVO\gQ[gZe^geBQ[gZ_eYYfgS Zc`YdY^f`Reg I[Mg Je`dg af`]d^eg fVac FQK[WF\ -3003; / _cZe_fgYc^^c^f^^c[gXcY^cge_g^faRc Xde`cg VOdZe^cg g d`g 1e`^eg %eadeg ]f_ Ef]ac[g$deg:eRdc`e_f[gZc`Nd`e`^fgZc` $deg:eRdc`e_f[g_eaPcg1Xd`f__d[gY^fYYe ]d^^eg f]g faf]dg @\Dg Ze^eY^cg NeOOadZe^d ]f_gZcUV`fg]dg1e`^eg%eadeg]f_gEf]ac[ NcP_dcg TH[g Xea^\g KITg YVO\g K[g Ze^\g EBS[ Z_eYYfgV`dZe[gZc`YdY^f`RegTGWgU?gf af`]d^egITQ[TW\g @dg Yf`Ydg fg Xfag P_dg fNNf^^dg ]f__eg _fPPf KGBFMgfg]f__eg`caUe^dJegJdPf`^f[g]e__e XfadRdeg]f_gE\;\*\gd`ge^^d[gf]ge__fg?Ve_d fYXafYYeUf`^fgYdgad`Jde[gadYV_^egZ3f, L_c^^dgT[S[QgfgKgYc`cgY^e^dgZcY^aVd^dgZc` _dZf`Regf]d_dRdeg`7gKHg]f_gSBIBHFgfgadL Z3dfY^eg]dgYe`e^cadegXfageOVYdgf]d_dRd Xac^cZc__cg`7gSSFSg]f_gQWBKBFHge`Zcae `c`g]fNd`d^eD Lgd_g_c^^cgMg-gY^e^cgf]dNdZe^cgZc`gZc`L ZfYYdc`fgf]d_dRdegFQBOdYg]f_gGBTSBGG L`f__egXfadRdeg`c`gJdgYc`cge_^afg`c^dRdf Z3deaeUf`^fg]f^faUd`e^f\ c N`^ aZaad^ XFV`fd^ Y_F[f]ead^ bF``e^ [db]ZQ `FbUe^aF[bf[e^fb^eaafR c Nb^dVbf^[e]d^`PeVVfZ\f[eae_fdW^_f[d__FbQ \dbF^f^Y_F]ZYYd]afW^Yda_M^eTTe`F_]f^\F``F \f]Yd]fUfdbf^\f^[Zf^e``Pe_aR^/-^\F`^TfVFbaF @R,R^\f^[Zf^e`^9R.R1R^-2-2>AAH^bR^4:A^F^\f [Zf^e``Pe_aR^/AW^5N^[dXXeW^^\F``e^`FVVF /72:?^F^\f^dVbf^e`a_e^bd_Xe^TfVFbaFW^YZ_Q


c

c

c

c c

c c

c

c

c

c

c

[L'^Y_F]Fbaf^\dXeb\e^\f^[db[F]]fdbF^d YF_XF]]d^fb^]ebead_fe^Fba_d^H>A^Vfd_bf \e``e^ bdafSf[e^ \F`^ \F[_Fad^ \f^ a_e]SF_fQ XFbadR De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^ \f_faad^ fb^ [Zf^ f^ OFbfW^ XFV`fd^ \F][_faaf bF``e^^YF_fUfe^\F`^CR@R,R^fb^eaafW^F\^^e``e KZe`F^ F]Y_F]]eXFbaF^ ]f^ _fbTfeW^ ]f^ a_dQ Tebd^8eb[LF^fb^_F`eUfdbF^e`^@R,R^\f^[Zf^e` 9R.R1R^-^VfZVbd^>AAHW^bR^4:A<W^[db^aZaaF `F^FTFbaZe`f^YF_afbFbUFW^e[[F]]fdbfW^_eQ Vfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F^Ye]]fTFI `e^ TFb\fae^ ;^ e^ [d_Yd^ F^ bdb^ e^ Xf]Z_eI FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb^YdQ a_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW fb\FbbfaM^d^_f\ZUfdbF^\f^Y_FUUdR^ De^Y_F]FbaF^TFb\fae^Sd_Ueae^bdb^;^]dVQ VFaae^e``F^bd_XF^[db[F_bFbaf^`e^Ve_ebUfe YF_^TfUf^d^Xeb[ebUe^\f^KZe`faMW^^b;^Yda_M F]]F_F^_f]d`ae^YF_^e`[Zb^XdafTdR^ Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_FW^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^ \e``PFTFbaZe`F^ bF[F]]faM^ \f^ e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_FW^^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^ =F^F]f]aFbaf^e`^XdXFbad^\F``e^TFb\faeW FTFbaZe`f^ f][_fUfdbf^ F^ a_e][_fUfdbf^ ]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``e Y_d[F\Z_eR^ BVbf^ Z`aF_fd_F^ dbF_F^ \F_fQ TebaF^\e``e^TFb\fae^]e_M^e^[e_f[d^\F``PeVQ VfZ\f[eae_fdR J``e^Ve_e^^Le^\f_faad^\f^Ye_aF[fYe_F^`PeVQ VfZ\f[eae_fd^Y_dTTf]d_fdW^[LF^bdb^\FTF FSSFaaZe_F^e`[Zb^Z`aF_fd_F^\FYd]fadR Cfe][Zb^ dSSF_FbaFW^ YF_^ YdaF_^ F]]F_F eXXF]]d^e``e^Ve_eW^\dT_M^\FYd]fae_FW Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdbf]ae^^\FQ `FVeadW^Fba_d^`F^d_F^H>W4A^\F`^Vfd_bd^SFQ _fe`F^Y_F[F\FbaF^`e^TFb\fae^8F][`Z]d^f` ]eOead<W^\dXeb\e^\f^Ye_aF[fYeUfdbF^e``e Ve_eW^ fb^ _FVd`e^ [db^ f`^ Od``d^ TfVFbaFW^ F \dT_M^TF_]e_F^e^afad`d^\f^[eZUfdbFWZbe ]dXXe^Ye_f^e`^HA ^8\fF[f^YF_^[Fbad<^\F` Y_FUUd^Oe]F^F\^Zbe^]dXXe^Ye_f^e`^H? 8KZfb\f[f^YF_^[Fbad<^\F`^Y_FUUd^Oe]F^^fb [dbad^ ]YF]FW^ [db^ \ZF^ \f]afbaf^ e]]FVbf [f_[d`e_f^ bdb^ a_e]SF_fOf`f^ e``Pd_\fbF^ \F` Y_dSF]]fdbf]ae^\F`FVeadR Ze`d_e^]fe^]aead^eUfdbead^bF``e^Y_d[FQ \Z_e^F]F[ZafTe^Zb^^C_F\fad^(db\fe_fdW^ef ]Fb]f^ \F``Pe_aR^ /H^ \F``e^ bZdTe^ DFVVF *eb[e_fe^ 89RDV]R^ H2A62H664^ bR^ 4:?<W `PeVVfZ\f[eae_fdW^f`^KZe`F^bdb^fbaFb\e^eTQ Te`F_]f^ \F``e^ Se[d`aM^ \f^ ]ZOFba_e_F^ bF` [dba_eaad^ \f^ SfbebUfeXFbadW^ \dT_M^ TF_Q ]e_F^^\f_FaaeXFbaF^e``Pf]afaZad^\f^[_F\fad Sdb\fe_fdW^Fba_d^f`^aF_XfbF^\f^Vfd_bf^^/A \e``e^\eae^\F``PeVVfZ\f[eUfdbFW^`e^Ye_aF \F`^Y_FUUd^[d__f]Ydb\FbaF^e`^[dXY`F]Q ]fTd^[_F\fad^\F``d^]aF]]dR^ DPeVVfZ\f[eae_fdW^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^ \f^ /A^ Vfd_bf^ \e``PeVVfZ\f[eUfdbFW \dT_M^ TF_]e_F^ e`^ Y_dSF]]fdbf]ae^ ^ \F`FQ VeadW^`e^Ye_aF^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^d^\f^e]]FVbeUfdbF^FTFbaZe`XFbaF _F]f\ZdW^\F\daae^`e^Y_F]aeae^^[eZUfdbFW bdb[L'^`PFTFbaZe`F^]e`\d^\F``F^]YF]FW XF\febaF^\f]afbaf^e]]FVbf^[f_[d`e_f^bdb a_e]SF_fOf`f^fbaF]aeaf^e`^XF\F]fXd^Y_dSF]Q ]fdbf]aeR N^Ye_aF[fYebaf^^Lebbd^`e^Yd]]fOf`faM^\f^daQ aFbF_F^ XZaZf^ fYdaF[e_f^ YF_^ Zb^ fXYd_ad Sfbd^e\^Zb^Xe]]fXd^\F`^7A2:A ^\F`^TeQ `d_F^ \F``PfXXdOf`F^ [dXF^ ]afXead^ bF``e YF_fUfe^e^ae]]f^F^[db\fUfdbf^F[dbdXf[LF Y_F]aeOf`faf^ \e^ dVbf^ ]fbVd`e^ Oeb[eR^ DF Oeb[LF^e\F_Fbaf^e``PfbfUfe^[db]Z`aeOf`f^]Z` ]fad^ \F``PJ*N 8LaaY)22!!!4ReOfRfa2J]aFNXX2<R^N^Ye_aF[fQ Yebaf^ e``Pe]ae^ ]dbd^ YF_aebad^ fbTfaeaf^ e [dbaeaae_FW^KZe`d_e^Tf^eOOfebd^fbaF_F]]FW `F^^*eb[LF^[dbTFbUfdbeaFR J^bd_Xe^\F``Pe_aR^?6H^Of]^[RYR[R^aZaaF^`F eaafTfaM^ _F`eafTF^ e``e^ TFb\fae^ ]e_ebbd F]Y`FaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadR ,be^[dYfe^\F`^Y_F]FbaF^eTTf]d^TF__M^eSQ Sf]]e^ F"^ Y_fXd^ [dXXe^ e_aR^ /6A^ [RYR[RW e`a_e^[dYfe^TF__M^YZOO`f[eae^]Z``PF\fUfdbF \dXFbf[e`F^\F`^KZdaf\febd^ND^9B+JEN 9GDDJ^CJDJ*1NJW^]Z`^XFb]f`F^J=@G^F ]Zf^^]faf^!!!Re]aFRFZVFbfZ]Rfa^F^e]aFRebQ bZb[fRfaR^+eVVfd_f^fbSd_XeUfdbf^Y_F]]d^`e

* Ceb[F``F_fe^\F``F^G]F[ZUfdbf^F\^f`^Y_dQ SF]]fdbf]ae^^9F`FVeadR^CZ]ad\F^\Ff^OFbf ;^f`^\_R^Jbadbfd^Ce_f\f^aF`R^A6:?^:H>HHQ :H>H/R c =f^YZOO`f[Lf^bF``F^Sd_XF^\f^[Zf^]dY_e^F ]f^bdafSf[Lf^ef^]Fb]f^\f^`FVVFR CFa_e_d^H>2HA2>AH> A_gXacNfYYdc`dY^eg]f_fPe^c :77*; 96585!:; 8)!296: CCCCC J55N=B^9N^5GE9N@J^JDDPNECJE@B^ 8^e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[R< N`^]daad][_faad^ !:77*; 96585!:; +- ", 3 ; \daad_F^[dXXF_[fe`f]ae^[db^]aZ\fd fb^CFa_e_d^e``e^Tfe^^(R^.f__fbd^bR^47W bdXfbead^fb^]d]afaZUfdbF^\F`^Y_F[F\FbaF^\FQ `FVead^[db^Y_dTTF\fXFbad^\F`^>HQ>42A/2>AA7W Tf]ae^ ^ `Pd_\fbebUe^ \f^ TFb\fae^ bR^ [_dbR^ ?>AAW FXebeae^^\e`^0fZ\f[F^\F``PG]F[ZUfdbF^fb^\eae H?2A7QH?2HA2>AA?^[db^[Zf^;^]aeae^\f]Yd]ae^`e TFb\fae^e``Pfb[ebad^\Ff^OFbf^YfVbd_eaf^bF`^XacL Zf]dUf`^cgfYfZV^dJcg`\ggSWGBIQg6\>\A\ F ]dbd^]aeaF^\F`FVeaF^`F^_F`eafTF^dYF_eUfdbf^W Tf]af^V`f^e_aaR^?-6W^?7-^F^?6H^Of]^[RYR[RW^Tf]af^f Y_dTTF\fXFbaf^\F`^]fV^0RGR^\F`^^>:2A/2>AA6^W >>Q>/2A72>AA6^W^H7Q>H2H>2>AA6W^7Q62A/2>AHAW >62HAQA42HH2>AHAW^H2A>2>AHHW^>AQ>>2A-2>AHHW >:Q>6262>AHHW^A62A>2>AH>W^^H42A72>AH>^F^\F` >42HA2>AH> 1GE9G^EB@B c [LF^f`^^Vfd_bd^TKg4>::@A'gSWTQgge__f cafgTF\QWg Y_F]]d^f`^Y_dY_fd^]aZ\fd^fb CFa_e_d^fb^Tfe^^(R^.f__fbd^bR^47W^]f^]Td`Q VF_M^^`Pfb[ebad^fb^\f]afbaf^^`daaf^^\Ff^OFbf d`a_F^\F][_faafR^De^TFb\fae^eTTfFbF^^^bF``d ]aead^\f^Seaad^F^\f^\f_faad^fb^[Zf^f^OFbfW^XFQ V`fd^\F][_faaf^bF``e^YF_fUfe^\F`^CR@R,R^fb eaafW^F\^e``e^KZe`F^F]Y_F]]eXFbaF^]f^_fbQ TfeW^ ]f^ a_dTebd^ 8eb[LF^ fb^ _F`eUfdbF^ e` @R,R^\f^[Zf^e`^9R.R1R^-^VfZVbd^>AAHW^bR 4:A<W^[db^aZaaF^`F^FTFbaZe`f^YF_afbFbUFW e[[F]]fdbfW^_eVfdbf^F\^eUfdbfW^]F_Tfa&^eaQ afTF^ F^ Ye]]fTFI^ `e^ TFb\fae^ ;^ e^ [d_Yd^ F bdb^e^Xf]Z_eI^FTFbaZe`f^\fSSF_FbUF^\f^XfQ ]Z_e^bdb^Yda_ebbd^\e_^`ZdVd^e\^e`[Zb^_fQ ]e_[fXFbadW^ fb\FbbfaM^ d^ _f\ZUfdbF^ \f Y_FUUdR^ c De^Y_F]FbaF^TFb\fae^Sd_Ueae^bdb^;^]dVQ VFaae^e``F^bd_XF^[db[F_bFbaf^`e^Ve_ebUfe YF_^TfUf^d^Xeb[ebUe^\f^KZe`faMW^^b;^Yda_M F]]F_F^_f]d`ae^YF_^e`[Zb^XdafTdR^ c Cdb]FVZFbaFXFbaF^ `PF]f]aFbUe^ \f FTFbaZe`f^TfUfW^Xeb[ebUe^\f^KZe`faM^d^\fSQ Sd_XfaM^ \F``e^ [d]e^ TFb\ZaeW^ dbF_f^ \f KZe`]fe]f^ VFbF_FW^ fTf^ [dXY_F]fW^ e\ F]FXYfdW^KZF``f^Z_Oebf]af[f^dTTF_d^\F_fQ Tebaf^ \e``PFTFbaZe`F^ bF[F]]faM^ \f^ e\FQ VZeXFbad^\f^fXYfebaf^e``F^`FVVf^TfVFbafW ]YF]F^[db\dXfbfe`f^\F``Pebbd^fb^[d_]d^F \F``Pebbd^ Y_F[F\FbaF^ bdb^ YeVeaF^ \e` \FOfad_FW^^YF_^KZe`]fe]f^XdafTd^bdb^[dbQ ]f\F_eafW^eb[LF^]F^d[[Z`af^F^[dXZbKZF bdb^FTf\FbUfeaf^fb^YF_fUfeW^bdb^Yda_ebbd \e_^`ZdVd^e\^e`[Zb^_f]e_[fXFbadW^fb\FbQ bfaM^d^_f\ZUfdbF^\F`^Y_FUUdW^F]]Fb\d]f \f^[f ^aFbZad^[dbad^bF``e^Te`ZaeUfdbF^\Ff OFbfR^DPfXXdOf`F^TfFbF^TFb\Zad^`fOF_d^\e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^ c =F^F]f]aFbaf^e`^XdXFbad^\F``e^TFb\faeW FTFbaZe`f^ f][_fUfdbf^ F^ a_e][_fUfdbf^ ]eQ _ebbd^[eb[F``eaF^e^]YF]F^F^[Z_e^\F``e Y_d[F\Z_eR^ c BVbf^ Z`aF_fd_F^ dbF_F^ \F_fTebaF^ \e``e TFb\fae^]e_M^e^[e_f[d^\F``PeVVfZ\f[eaeQ _fdR c Cfe][Zb^ dSSF_FbaFW^ YF_^ YdaF_^ F]]F_F eXXF]]d^e``Pfb[ebadW^\dT_M^Y_F]Fbae_FW Y_F]]d^f`^]dY_e^fb\f[ead^^]aZ\fdW^^Fba_d^`F d_F^H>R4A^\F`^Vfd_bd^SF_fe`F^Y_F[F\FbaF `Pfb[ebadW^^F][`Z]d^f`^]eOeadW^\dXeb\e^\f Ye_aF[fYeUfdbF^e``Pfb[ebadW^fb^_FVd`e^[db f`^Od``d^TfVFbaFW^F^\dT_M^TF_]e_F^e^afad`d \f^ [eZUfdbFWZbe^ ]dXXe^ Ye_f^ e`^ HA 8\fF[f^YF_^[Fbad<^\F`^Y_FUUd^Oe]F^\Pe]ae F\^Zbe^]dXXe^Ye_f^e`^H? ^^8KZfb\f[f^YF_ [Fbad<^\F`^Y_FUUd^Oe]F^\Pe]ae^fb^[dbad ]YF]FW^[db^\ZF^\f]afbaf^e]]FVbf^[f_[d`e_f bdb^a_e]SF_fOf`f^e``Pd_\fbF^\F`^]daad][_faad Y_dSF]]fdbf]ae^\F`FVeadR^^ c Ze`d_e^]fe^]aead^eUfdbead^bF``e^Y_d[FQ \Z_e^F]F[ZafTe^Zb^^C_F\fad^(db\fe_fdW^ef ]Fb]f^ \F``Pe_aR^ /H^ \F``e^ bZdTe^ DFVVF *eb[e_fe^ 89RDV]R^ H2A62H664^ bR^ 4:?<W `PeVVfZ\f[eae_fdW^f`^KZe`F^bdb^fbaFb\e^eTQ Te`F_]f^ \F``e^ Se[d`aM^ \f^ ]ZOFba_e_F^ bF` [dba_eaad^ \f^ SfbebUfeXFbadW^ \dT_M^ TF_Q ]e_F^^\f_FaaeXFbaF^e``Pf]afaZad^\f^[_F\fad Sdb\fe_fdW^ Fba_d^ f`^ aF_XfbF^ \f^ Vfd_bf^ /A Vfd_bf^\e``e^\eae^\F``PeVVfZ\f[eUfdbFW^`e Ye_aF^\F`^Y_FUUd^[d__f]Ydb\FbaF^e`^[dXQ Y`F]]fTd^[_F\fad^\F``d^]aF]]dR c DPeVVfZ\f[eae_fdW^Fba_d^f`^aF_XfbF^YF_FbQ ad_fd^ \f^ /A^ Vfd_bf^ \e``PeVVfZ\f[eUfdbFW

\dT_M^ TF_]e_F^ e`^ Y_dSF]]fdbf]ae^ \F`FQ VeadW^f`^]e`\d^\F`^Y_FUUd^\f^eVVfZ\f[eQ UfdbF^ d^ \f^ e]]FVbeUfdbFW^ \F\daae^ `e Y_F]aeae^[eZUfdbFW^bdb[L'^`PFTFbaZe`F ]e`\d^\F``F^]YF]FW^XF\febaF^\f]afbaf^e]Q ]FVbf^[f_[d`e_f^bdb^a_e]SF_fOf`f^fbaF]aeaf^e` XF\F]fXd^Y_dSF]]fdbf]aeR^ c Nb^[e]d^\f^fbe\FXYfXFbad^`PeVVfZ\f[eQ ae_fd^]e_M^\f[Lfe_ead^\F[e\Zad^\e`^\f_faadW [db^[db]FVZFbaF^YF_\fae^\F``e^[eZUfdbF e^afad`d^\f^XZ`ae^]e`Td^`PFTFbaZe`F^[dbQ \ebbe^e^YeVe_F^`e^\fSSF_FbUe^\f^[Zf^e``e ]F[db\e^Ye_aF^\F``Pe_aR^?:7^[RYR[RR c N^Ye_aF[fYebaf^e``Pe]ae^Lebbd^`e^Yd]]fOfQ `faM^\f^daaFbF_F^XZaZf^fYdaF[e_f^YF_^Zb^fXQ Yd_ad^Sfbd^e\^Zb^Xe]]fXd^\F`^7A2:A \F`^Te`d_F^\F``PfXXdOf`F^[dXF^]afXead bF``e^YF_fUfe^e^ae]]f^F^[db\fUfdbf^F[dbdQ Xf[LF^Y_F]aeOf`faf^\e^dVbf^]fbVd`e^Oeb[eR^ c DF^Oeb[LF^e\F_Fbaf^e``PfbfUfeafTe^]dbd^`F ]FVZFbaf) c +dbaF^\Ff^.e][Lf^\f^=fFbe^=RYRe^Sf`fe`F \f^.ed`e^89f_FUfdbF^\f^1FVVfd^Ce`eO_fe Q^]Faad_F^Y_d\daaf^1Faef`^Q^5R`F^Ce`eO_fe ebVd`d^Tf[d^=R^Jbbe^:6H4H^^1FVVfd^CeQ `eO_fe^<Q^aF`^A6-?24?4/-?2/7:2/-:I c ,bf[_F\fa^ *eb[e^ =RYRe^ W^JVFbUfe^ ,bfQ [_F\fa^ \f^ Cd]FbUe^ WH>7^ ebVR^ @eV`feQ XFbadW^CR]d^+eUUfbfR c N^Ye_aF[fYebaf^e``Pe]ae^]dbd^YF_aebad^fbQ Tfaeaf^e^[dbaeaae_FW^KZe`d_e^Tf^eOOfebd^fbQ aF_F]]FW^`F^]Z^fb\f[eaF^*eb[LFR c ,be^[dYfe^\F`^Y_F]FbaF^TF__M^eSSf]]e^F" Y_fXd^[dXXe^e_aR^/6A^[RYR[W^e`a_e^[dYfe TF__M^YZOO`f[eae^]Z``PF\fUfdbF^\dXFbfQ [e`F^\F`^^KZdaf\febd^$N`^9dXebf^\F``e^CeQ `eO_fe#W^ ]Z`^ +Fb]f`F^ $J]aF#^ F^ ]Zf^ ]faf fbaF_bFa^ !!!Re]aFRFZVFbfZ]Rfa^ F !!!Re]aFRebbZb[fRfa c N`^\FOfad_F^d^f`^[Z]ad\F^[db]Fbaf_ebbd^`e Tf]fae^ \F`^ [dXYFb\fd^ Yd]ad^ fb^ TFb\fae bFf^a_F^Vfd_bf^ebaF[F\Fbaf^`Pfb[ebadW^\e``F d_F^H-R4A^e``F^d_F^H:R4AR^9F``F^FTFbaZe`f Tf]faF^\dT_M^F]]F_F^\eae^[dXZbf[eUfdbF e`^Y_dSF]]fdbf]ae^9F`FVeadR^ c J^bd_Xe^\F``Pe_aR^?6H^Of]^[RYR[R^aZaaF^`F eaafTfaM^ _F`eafTF^ e``e^ TFb\fae^ ]e_ebbd F]Y`FaeaF^Y_F]]d^`d^]aZ\fd^\F`^Y_dSF]]fdQ bf]ae^\F`FVeadR *GEN^=B@@B.B=@N^J9^NECJE@B `f_gEcUV`fg]dg@Ue`^feg2E15[ggd`g_cZe_d^e /EcafZe.[g E\Ycg %e_^eg `\TW[g d`g V`g NeOOadL Ze^cgZcY^d^Vd^cg]eg`\gQgXde`dgXdV gYfUd`^faL ae^cg -3003; (*; / V`d^e g dUUcOd_deafg Yd^eg e_ Xde`cgYfUd`^faae^c[gZcUXcY^eg]eg_cL Ze_fg]fXcYd^cgfgZf__fgNadPcadNfac\gEc`L Nd`egZc`gJe`cgYZe_e[gg0\g%\[g^faaeXdf`c[ 0\g%\g[gXacXadf^e gNfaacJdfg]f__cgY^e^c\ Ee^eY^cg NeOOadZe^dg ]f_g ZcUV`fg ]d @Ue`^feg +cP_dcg `\SG[g 0ea^dZf__eg `\ SSS[gYVO\gMgZe^fP\gEBTgZ_eYYfgT[gZc`L YdY^f`RegTFSgU?\af`]d^egfVacgTKWI[IQg #6944:;8;.819;! 8178 fVacgM\FMK[IW 8[fbKZFQ Xf`edaad[Fbad[fbKZebaeKZeaa_d26A<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacgT\WWW[WWg8Xf``F2AA^<^R -3003;(*; / dUUcOd_fge_gXde`cgade_Re^cg[ e]dOd^cgeg_cZe_fgZcUU\_fg2gXfYZ3fade 5gZcUXcY^cg]eg_cZe_fgV`dZc[gYfaJdRdc dPdf`dZcg fg Zf__fg NadPcadNfacDg Zc`Nd`e Zc`g,gJe`cgYZe_e[g11gTF[geafeg]dgZca^f d`gXacdfRdc`f\gEe^eY^cgNeOOadZe^dg]f_ ZcUV`fg]dg@Ue`^fegNcP_dcgSGgXea^dL Zf__eg`\gSSS[gYVO\gTgZe^fP\gZBTgZ_eYYf Kg[gZc`YdY^f`RegTSTU?[g\gaf`]d^egfVac S\THF[KM\gg #6944:;8;.819;! 8178 fVacgTH\HTM[FS 8]F\fQ [fXf`e]Ff[FbadKZfb\f[f2:><R^ DF^:%%9679;&252&9;25;8'&957:;[db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacgT\WWW[WWg8Xf``F2AA<R -3003; (*; / dUUcOd_fg g e_g g Xde`cg XadUc[ ZcUXcY^cg]egd`PafYYc[gZcaad]cdc[gYeL _c`f[gZVZd`egZc`gadXcY^dP_dc[g`\gQgZeL Ufafg]eg_f^^c[g`\gSgYfaJdRdgdPdf`dZdgf Oe_Zc`d\g Ec`Nd`eg Zc`,g Je`cg YZe_e[ eaffg]dgZca^fgd`gXacdfRdc`f[ge_^aegeafe ]dgZca^fgd`gXacdfRdc`f\gEe^eY^cg+eOL OadZe^dgg]f_gEcUV`fg]dg@Ue`^fegNcP_dc `\SGgXea^dZf__eg`\SSS[gYVO\gSgZe^fP\@BS Z_eYYfg S[g $e`dg G\Ec`YdY^f`Re EcUU\_fg U?\TGM[ST\g af`]d^eg fVac HTK[MF\ #6944:;8;.819;! 8178 fVacggI\HQS[SGg 8bdTFQ Xf`e]Ff[Fbada_Fbae\ZF2>7<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacggT\WWW[WWg8Xf``F2AA<R -3003;(*; / dUUcOd_fge_gXde`cgYfZc`]c[ ZcUXcY^cg]egd`PafYYc[gZcaad]cdc[g`\ QgZeUfaf[gYfaJdRdcgdPdf`dZcgfgOe_Zc`d\ Ec`YdY^f`Reg ZcUU\_fg U?\g FM[GW\ Ec`Nd`eg Zc`g Je`cg YZe_e[g eXXea^eL Uf`^cg Y^fYYeg ]d^^e[g eafeg ]dg Zca^fg d` XacdfRdc`f\gEe^eY^cgNeOOadZe^dg]f_ggZcL

UV`fg]dg@Ue`^fegNcP_dcg`\gSGgXea^dL Zf__eg`\gSSSgYVO\gQgd`gZcaYcg]dg]fNd`dL Rdc`f\g #6944:;8;.819;! 8178 fVacgS\HMW[TG 8\ZFXfQ `e]Ff[Fbad[fbKZebae2H7<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacgT\WWW[WWg8Xf``F2AA<R -3003;(*; / dUUcOd_fge_gXde`cgYfZc`]c[ ZcUXcY^cg]egd`PafYYc[gZcaad]cdc[g`\ QgZeUfaf[gYfaJdRdcgdPdf`dZcgfgOe_Zc`d\ Ec`YdY^f`Reg EcUU\_fg U?\g IW[IQ\ Ec`Nd`egZc`,geafeg]dgZca^fgd`gXacdfL Rdc`fg Xfag ^afg _e^d[g eXXea^eUf`^c Y^fYYeg ]d^^e\g Ee^eY^cg NeOOadZe^dg ]f_ ZcUV`fg]dg@Ue`^fegNcP_dcg`\gSGgXeaL ^dZf__eg`\gSSS[gYVO\KgEe^fPg@BS[gE_\T[ Ec`YdY^f`RegKg$e`d[g1VXfaNdZdfgEe^eL Y^e_fgFS[g6f`]d^eg>VacgSII[MM[gEc`L ^ae]egEcafZe[g0de`cgS[gA`^fa`cgK\g #6944:;8;.819;! 8178 fVacgK\IIF[IQ 8KZeaa_dQ Xf`ebdTF[FbadbdTebadaad264<R^ DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ `eb[fd^dOO`fVead_fd^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e^fVacgT\WWW[WWg8Xf``F2AA<R c Jf^ ]Fb]f^ F^ YF_^ V`f^ FSSFaaf^ \F``e^ `FVVF /72:?^F^\F``e^bd_XeafTe^TfVFbaFW^\e``e YF_fUfe^ \F`^ CR@R,R^ fb^ eaafW^ F\^ e``F^ KZe`f F]Y_F]]eXFbaF^]f^_fbTfeW^_f]Z`ae^[LF) c Q;^]aeae^_f`e][feae^_FVd`e_F^[db[F]]fdbF F\f`fUfe^ fb^ ]ebead_fe^ bR^ H>?:^ \F` >62HA2H666I c Q;^]aead^_f`e][fead^[F_afSf[ead^\3eVfOf`faM fb^\eae^A?2HH2H666^YF_^f`^`d[e`F^[dXXF_Q [fe`F^]fad^e`^Yfebd^_fe`Uead^e\fOfad^e^YFQ ][LF_feI c Qf`^aF__Fbd^]Z`^KZe`F^fb]f]aF^f`^^SeOO_f[eadW ]fad^ fb^ eV_d^ \f^JXebaFe^ W^ e``e^ `d[e`fae3 Cd_F[eW^ \f]afbad^ fb^ [eae]ad^ e`^ SdV`fd^ \f XeYYe^ bR>7^ Ye_aR^ >>>^ Le^ `e^ ]FVZFbaF \F]afbeUfdbF^ Z_Oebf]af[e^ )^ fb^ Ye_aF^ fb Udbe^ *1^ e_Fe^ Z_Oebe^ e\^ d_VebfUUeQ UfdbF^ Xd_Sd`dVf[e^ [dXY`F]]e ^ F\^ fb Ye_aF^ Udbe^\f^_f]YFaad^]a_e\e`F R c N`^ aZaad^ XFV`fd^ Y_F[f]ead^ bF``e^ [db]ZQ `FbUe^aF[bf[e^fb^eaafR c Nb^dVbf^[e]d^^V`f^eVVfZ\f[eae_fW^_f[d__FbQ \dbF^f^Y_F]ZYYd]afW^Yda_ebbd^eTTe`F_]f \F``F^\f]Yd]fUfdbf^\f^[Zf^e``Pe_aR^/-^\F`^TfQ VFbaF^@R,R^]Z``PF\f`fUfe^\f^[Zf^e`^9R.R1R -2-2>AAH^bR^4:A^F^\f^[Zf^e``Pe_aR^/AW^5N [dXXeW^\F``e^`FVVF^/72:?^F^\f^dVbf^e`a_e bd_Xe^TfVFbaFR c 9e``e^[aZ^fb^eaaf^_f]Z`ae^[LF^`PfXXdOf`F^\f [Zf^e`^`daad^bR^H^;^d[[ZYead^F\^;^e\fOfad e^\FYd]fadW^[F``F^S_fVd_fSF_dI^`PfXXdOf`F \f^[Zf^e`^`daad^bR^>^^;^d[[ZYead^F\^;^e\fQ Ofad^e\^eaafTfaM^[dXXF_[fe`F^8YF][LF_fe<I `PfXXdOf`F^\f^[Zf^e`^`daad^bR^4^^;^d[[ZYead \e``PF]F[ZaeadI^`PfXXdOf`F^\f^[Zf^e`^`daad bR^/^;^`fOF_d^F\^e``d^]aead^_Z]af[dI^`PfXQ XdOf`F^\f^[Zf^^e`^`daad^bR^?^;^d[[ZYeadR c +eVVfd_f^ fbSd_XeUfdbf^ Y_F]]d^ `e^ CebQ [F``F_fe^\F``F^G]F[ZUfdbf^F\^f`^Y_dSF]]fdQ bf]ae^9F`FVeadR c =f^YZOO`f[Lf^bF``F^Sd_XF^\f^[Zf^]dY_eR CFa_e_d^`f^>?2HA2>AH> A_g0acNfYYdc`dY^eg]f_fPe^cgg :77*; 96585!:; 8)!296: CCCCC J55N=B^9N^5GE9N@J^ N++B*NDNJ1G^CBE^NECJE@B 8J_aaR^^?7-^F^?6H^Of]^[Y[< .1BCRG=R^H>A26H^1R0RGR^ De^9daaR]]e^0fZ]FYYfbe^01GCBW Tf]ae^ `Pd_\fbebUe^ \f^ TFb\fae^ bR^ [_dbR H6:>2>AA-^FXebeae^\e`^0RGR^\F`^@_fOZbe`F^\f .ed`e^^[db^[Zf^;^]aeae^\f]Yd]ae^`e^TFb\fae^\Ff OFbf^YfVbd_eaf^bF`^XacZf]dUf`^cgfYfZV^dJc `\g TSWBITg 6\4\>\ F^ ]dbd^ ]aeaF^ \F`FVeaF^ ef ]Fb]f^\F``P^e_aR^?6H^Of]^[RYR[RW^e``e^]daad][_faae Y_dSF]]fdbf]ae^`F^_F`eafTF^dYF_eUfdbfI^Tf]af^e`Q a_F] ^f^Y_dTTF\fXFbaf^]Z[[F]]fTf^F^\e^Z`afXd KZF``d^ FXebead^ \e`^ *,*; :77*118; 6'59))8 CdbTF_]d^^fb^\eae^>?2A?2>AH>W^[db^[Zf^;^]aead eZad_fUUead^Zb^Z`aF_fd_F^[f[`d^\f^TFb\faFW^ 1GE9G^EB@B [LF^^ef^]Fb]f^\F``Pe_aR^?7-^[Y[^^f`^Vfd_bd^A?^SFOQ O_efd^>AH4^^e``F^d_F^H?)4A^Y_F]]d^f`^Y_dY_fd =aZ\fd^]fad^fb^=eb^DZ[f\d^8C=<^e``e^5fe^=a_e\e $E#^bR^>-W^^]f^]Td`VF_M^`Pfb[ebad^\F`^]FVZFbaF OFbF^fXXdOf`FW^\F``PfbaF_e^KZdae^F^^YfFbe^Y_dQ Y_fFaM^\F`^DB@@B^bR^7) *GEG^=B@@B.B=@B^J9^NECJE@B -:77:;5*; /;;faaf`cgYd^cgd`gE_f^cg2E15[ge__e $deg0df^aeUe_eg_dUd^acNcge]gV`ggNeOOadL Ze^c[ggfY^fYcgXfagU?\gQGW[gd`Yfad^cgd` Ee^eY^cg`f_gNcP_dcgMgXea^\gSTS[gYfU\gdaL adPVcgZ_eYYfgSg]dgeafgQ\GW[gaf]]d^cg]cL Ud`dZe_fgg<gT[SKgaf]]d^cgePaeadcg<gW[SI\ N`^ 6944:; .819 8^ Z`aF_fd_XFbaF^ _f\daad^ \F` HA <^;^\f^<gT\GGF[WW 8FZ_d^^Xf``F]FaaF[FbadQ ]Faaebadaad2AA<^^ Cdb\fUfdbF)^`fOF_d DF^:%%9679;&252&9;25;8'&957: [db^Y_fXd^_fQ


`eb[fd^dOO`fVead_fdW^^bdb^Yda_ebbd^F]]F_F^fbQ SF_fd_f^e\^<gTWW[WW 8GZ_d^[Fbad^2AA<R c De^TFb\fae^eTTfFbF^bF``d^]aead^\f^Seaad^F \f^\f_faad^fb^[Zf^f^OFbf^]f^a_dTebdW^XFV`fd \F][_faaf^bF``e^YF_fUfe^\F`^CR@R,R^fb^eaafW F\^e``e^KZe`F^F]Y_F]]eXFbaF^]f^_fbTfeW [db^aZaaF^`F^FTFbaZe`f^YF_afbFbUFW^e[[F]Q ]fdbfW^_eVfdbf^F\^eUfdbfW^]F_Tfa&^eaafTF^F Ye]]fTFI^`e^TFb\fae^;^e^[d_Yd^F^bdb^e^XfQ ]Z_eI^FTFbaZe`f^\fSSF_FbUF^\f^Xf]Z_e^bdb Yda_ebbd^ \e_^ `ZdVd^ e\^ e`[Zb^ _f]e_[fQ XFbadW^ fb\FbbfaM^ d^ _f\ZUfdbF^ \F` Y_FUUdR^ c De^Y_F]FbaF^TFb\fae^Sd_Ueae^bdb^;^]dVQ VFaae^e``F^bd_XF^[db[F_bFbaf^`e^Ve_ebUfe YF_^TfUf^d^Xeb[ebUe^\f^KZe`faMW^b'^Yda_M F]]F_F^_FTd[eae^YF_^e`[Zb^XdafTdR^^CdbQ ]FVZFbaFXFbaF^`PF]f]aFbUe^\f^FTFbaZe`f TfUfW^ Xeb[ebUe^ \f^ KZe`faM^ d^ \fSSd_XfaM \F``e^[d]e^TFb\ZaeW^dbF_f^\f^KZe`]fe]fW YF_^ KZe`]fe]f^ XdafTd^ bdb^ [db]f\F_eafW bdb^Yda_ebbd^\e_^`ZdVd^e\^e`[Zb^_f]e_Q [fXFbadW^ fb\FbbfaM^ d^ _f\ZUfdbF^ \F` Y_FUUdW^ F]]Fb\d]f^ \f^ [f ^ aFbZad^ [dbad bF``e^Te`ZaeUfdbF^\Ff^OFbfR^ c DPfXXdOf`F^ TfFbF^ TFb\Zad^ `fOF_d^ \e f][_fUfdbf^fYdaF[e_fF^F^\e^a_e][_fUfdbf^\f YfVbd_eXFbafR^ c =F^F]f]aFbaf^e`^XdXFbad^\F``e^TFb\faeW FTFbaZe`f^f][_fUfdbf^]e_ebbd^[eb[F``eaF^e ]YF]F^F^[Z_e^\F``e^Y_d[F\Z_eI^]F^d[[ZQ Yead^\e`^\FOfad_F^d^\e^aF_Uf^]FbUe^afad`dW `e^`fOF_eUfdbF^\F``PfXXdOf`F^]e_M^FSSFaQ aZeae^e^[Z_e^\F`^CZ]ad\F^0fZ\fUfe_fdR^ c BVbf^dbF_F^Sf][e`F^\F_fTebaF^\e``e^TFbQ \fae^ ]e_M^ e^ [e_f[d^ \F``PeVVfZ\f[eae_fd 8fXYd]aFW^a_e][_fUfdbfW^Td`aZ_FW^F[[R<R^ c Cfe][Zb^Ye_aF[fYebaF^^YF_^YdaF_^F]]F_F eXXF]]d^e``Pfb[ebad^\dT_M^^Y_F]Fbae_F Y_F]]d^`d^=aZ\fd^\F`^._dSF]]fdbf]ae^\FQ `FVead^ [dXF^ ]dY_e^ fb\f[eadW^ bdb^ Yf& ae_\f^\F``F^d_F^H>)4A^^\F`^Vfd_bd^Y_F[FQ \FbaF^bdb^SF]afTd^e^KZF``d^Sf]]ead^YF_^`e TFb\faeW^\dXeb\e^\f^Ye_aF[fYeUfdbF^e`Q `Pfb[ebadW^ fb^ _FVd`e^ [db^ `PfXYd]ae^ \f Od``dW^[d__F\eae^\f^Zb^e]]FVbd^[f_[d`e_F bdb^a_e]SF_fOf`F^fbaF]aead^e^$Y_d[F\Z_e 1R0RGR^ bR^ H>A26HQ^ \F`FVead^ 9daaR^ ]]e 0fZ]FYYfbe^0_F[d$^YF_^Zb^fXYd_ad^Ye_f e`^HA ^\F`^Y_FUUd^Oe]F^\Pe]aeW^e^afad`d \f^[eZUfdbFR^ c Jf^]Fb]f^\F``Pe_aR^?:A^[Y[^W^]F^`PdSSF_FbaF bdb^\fTfFbF^eVVfZ\f[eae_fdW^eT_M^\f_faad e^TF\F_]f^_F]afaZfae^`e^[eZUfdbFW^\dYd^`e [LfZ]Z_e^\F``Pfb[ebadI^`e^Xeb[eae^Ye_aFQ [fYeUfdbF^ e``Pfb[ebad^ ]FbUe^ Zb^ \d[ZQ XFbaead^ d^ VfZ]afSf[ead^ XdafTd [dXYd_aF_MW^fbTF[FW^`e^_F]afaZUfdbF^\F``e ]aF]]e^bF``e^Xf]Z_e^\Ff^62HA^\F``PfbaF_d F^`e^_F]aebaF^Ye_aF^8H2HA<^TF__M^e[KZf]fae e``e^Y_d[F\Z_e^F]F[ZafTeR c DPeVVfZ\f[eae_fd^bF`^aF_XfbF^YF_Fbad_fd \f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbF^\FSfbfQ afTeW^\dT_M^\FYd]fae_F^e`^Y_dSF]]fdbf]ae \F`FVeadW^f`^]e`\d^\F`^Y_FUUd^\f^eVVfZ\fQ [eUfdbF^8\Fa_eaad^`PfXYd_ad^YF_^[eZUfdbF VfM^TF_]ead<^bdb[L'^`PfXYd_ad^YF_^]YF]F \f^a_e]SF_fXFbadW^XF\febaF^e]]FVbf^[f_Q [d`e_f^ bdb^ a_e]SF_fOf`f^ fbaF]aeaf^ e^ $._d[R G]R^b ^H>A26H^\F`FVead^\daaR^]]e^^0fZQ ]FYYfbe^0_F[d#R c Ze`d_e^]f^a_eaaf^\f^[_F\fad^Sdb\fe_fdW^ef ]Fb]f^ \F``Pe_aR^ /H^ \F``e^ bZdTe^ DFVVF *eb[e_fe^ 89RDV]R^ H2A62H664^ bR^ 4:?<W `PeVVfZ\f[eae_fdW^f`^KZe`F^bdb^fbaFb\e^eTQ Te`F_]f^ \F``e^ Se[d`aM^ \f^ ]ZOFba_e_F^ bF` [dba_eaad^ \f^ SfbebUfeXFbadW^ \dT_M^ TF_Q ]e_F^ \f_FaaeXFbaF^ e``Pf]afaZad^ \f^ [_F\fad Sdb\fe_fdW^ Fba_d^ f`^ aF_XfbF^ \f^ Vfd_bf^ 4A \e``e^\eae^fb^[Zf^`PeVVfZ\f[eUfdbF^\fTfFbF \FSfbfafTeW^`e^Ye_aF^\F`^Y_FUUd^[d__f]YdbQ \FbaF^ e`^ [dXY`F]]fTd^ [_F\fad^ \F``d ]aF]]dR^ c N`^Xeb[ead^TF_]eXFbad^\F`^Y_FUUd^_F]fQ \Zd^bF`^aF_XfbF^]aeOf`fadW^[dXYd_aF_M^`e \F[e\FbUe^\e``PeVVfZ\f[eUfdbFW^bdb[L' `e^YF_\fae^\F``e^[eZUfdbF^8e_aR^?:7^[Y[<R c N^^Ye_aF[fYebaf^e``Pe]ae^Lebbd^`e^Yd]]fOfQ `faM^\f^daaFbF_FW^XZaZf^fYdaF[e_f^YF_^Zb fXYd_ad^ Sfbd^ e\^ Zb^ Xe]]fXd^ \F`^ 7A^ :A ^\F`^Te`d_F^\F``PfXXdOf`F^8[dXF^]afQ Xead^bF``e^YF_fUfe<^e^ae]]f^F^[db\fUfdbf F[dbdXf[LF^Y_F]aeOf`faf^\e^dVbf^]fbVd`e *eb[eR c DF^Oeb[LF^e\F_Fbaf^e``P^fbfUfeafTe^_f]Z`Q aebd^F]]F_F) c Q*eb[e^ +dbaF^ \Ff^ .e][Lf^ \f^ =fFbe =RYRe^ ^ Sf`fe`F^ \f^ .ed`e^ 89f_FUfdbF^ \f 1FVVfd^Ce`eO_fe^ ^=Faad_F^._d\daaf^1FQ aef`^ ^5fe`F^Ce`eO_fe^ebVd`d^5f[d^=R^Jbbe ^ :6H4H^ ^ 1FVVfd^ Ce`eO_feI^ aF`^ A6-?Q 4?4/-?2/7:2/-:<I c ,bf[_F\fa^*eb[e^=RYReRW^Q^eVFbUfe^,bfQ [_F\fa^ \f^ Cd]FbUeW^ H>7^ ebVd`d^@eV`feQ XFbadW^Cd_]d^+eUUfbfR^^ c Cfe][Zb^fbaF_F]]ead^e^OFbFSf[fe_F^\F``e ]Z\\Faae^eVFTd`eUfdbF^;^fbTfaead^e^[dbQ

*) aeaae_F^`F^]F\f^\F``F^eVFbUfF^d^`F^Sf`fe`f^fbQ [e_f[eaF^ YF_^ [dXF^ ]dY_e^ fb\f[eadR^ Jf ]Fb]f^\F``Pe_aR^?:/^[Y[R^8e`^KZe`F^]f^_fbQ Tfe<W^\dYd^^`Pfb[ebad^Yd]]dbd^F]]F_F^ebQ [d_e^ SeaaF^ dSSF_aF^ \f^ e[KZf]ad^ Fba_d^ f` aF_XfbF^YF_Fbad_fd^\f^HA^Vfd_bfI^eSSfb[L' ae`f^ dSSF_aF^ ]febd^ FSSf[e[f^ ;^ bF[F]]e_fd [LF^f`^Y_FUUd^dSSF_ad^]ZYF_f^\f^H2?^KZF``d _eVVfZbad^bF``Pfb[ebadR c Jf^ Sfbf^ \F``Pe_aR^ H74QKZeaF_^ \f]YR^ eaaR [RYR[R^]f^[dXZbf[e^[LFW^\e``e^C@,^eV`f eaaf^_f]Z`ae)^ c Ddaad^ b ^ 7)^ Yf[[d`d^ eYYFUUeXFbad^ \f aF__Fbd^\f^Sd_Xe^a_febVd`e_FW^\e^[db]fQ \F_e_]f^ YF_afbFbUe^ \F`^ SeOO_f[ead^ `fXfQ a_dSdW^fb^KZebad^YF_^Xd_Sd`dVfe^F^Sd_Xe '^fXYd]]fOf`F^F\fSf[e_F^[d]a_ZUfdbf^e^]F ]aebafR c J^bd_Xe^\F``Pe_aR^?6H^Of]^[Y[^aZaaF^`F^eaQ afTfaM^_F`eafTF^e``e^TFb\fae^]dbd^F]FVZfaF \e`^ ^ Y_dSF]]fdbf]ae^ \F`FVead^ Y_F]]d^ f` ]Zd^=aZ\fdR c +eVVfd_f^fbSd_XeUfdbf^Yd]]dbd^F]]F_F Sd_bfaF^ \e``e^ Ceb[F``F_fe^ \F``F^ F]F[ZQ Ufdbf^fXXdOf`fe_f^\F`^@_fOZbe`F^\f^.ed`e e^[LfZbKZF^Tf^eOOfe^fbaF_F]]FR^ c CZ]ad\F^ VfZ\fUfe_fd^ \F`^ OFbF^ ;^ `e 9daaR]]e^0fZ]FYYfbe^0_F[dW^aF`FSdbd^F Se"^A6:>Q:/-?>R c N`^Y_F]FbaF^eTTf]d^TfFbF^eSSf]]d^e``PJ`Od ef^]Fb]f^\F``Pe_aR^/6A^[RYR[R^F^^^a_e]XF]]d e``e^Ceb[F``F_fe^\F`^@_fOZbe`F^\f^.ed`e 8C=<^YF_^`Pfb]F_fXFbad^bF`^Se][f[d`d^\PZSQ Sf[fdR c DPF]a_eaad^\F``PeTTf]d^TfFbF^YZOO`f[ead ]Z`^KZdaf\febd^ND^9B+JEN^9GDDJ^CJQ DJ*1NJ^F^]Z^J=@G^\f^CeaebUe_dW^XFbQ a_F^ ]Z`^ ]fad^ !!!Re]aFRFZVFbfZ]Rfa TFbVdbd^YZOO`f[eaf^`PeTTf]dW^^`e^YF_fUfe [db^FTFbaZe`f^e``FVeaf^F^^`Pd_\fbebUe^\f TFb\faeR^^ =f^YZOO`f[Lf^bF``F^Sd_XF^\f^DFVVF^R =eb^DZ[f\d^8C=<W^A:^bdTFXO_F^>AH> A_gXacNfYYdc`dY^eg]f_fPe^c 2'19 258; 69$: 9daad_F^CdXXF_[fe`f]ae^

0acZf]VaegfYfZV^dJeg`\gKFBIKg gHIBIKg STTBIMg64> Y_dXd]]e^\e *J5^^ ^CJ1NCJD^ ^+.=^=RYRJR^ J55N=B^9N^5GE9N@J N`^]daad][_faad^\daaR^Jbadbfd^9F^@dXXe]fW^eTQ Td[ead^fb^1FVVfd^Ce`eO_feW^[db^]aZ\fd^fb^5fe 9F`^.`FOf][fad^bR^>:W^Tf]ae^`3d_\fbebUe^\f^\FQ `FVe^\F`^0RGR^\daaR^CeXYeVbe^fb^\eae^H ^SFOQ O_efd^>AA7^F^]Z[[F]]fTe^\f]Yd]fUfdbF^fb^\eae >-^bdTFXO_F^>AA7W^Tf]af^V`f^e_aaR^?6H^Of]^F^?7[RYR[RW eTTf]e [LF^f`^Vfd_bd^TWg4>::@A'gSWTQg]e__fgcaf TG,TM[ Y_F]]d^f`^]Zd^]aZ\fdW^]f^Y_d[F\F_M^e``e TFb\fae^]FbUe^fb[ebadW^[db^Ve_e^fb^[e]d^\f Yf&^dSSF_FbafW^\FV`f^fXXdOf`f^fb^[e`[F^\F][_faaf e``F^]FVZFbaf^[db\fUfdbf^F^Xd\e`faM) < 8 `e^ TFb\fae^ eT_M^ `ZdVd^ fb^ Zb^ Zbf[d `daadI < .<^ f`^ 6944:; .819 ;^ Sf]]ead^ fb^ < MM\HIW[WW YF_^f`^H `daadI < $ fb^Y_F]FbUe^\f^Yf&^dSSF_FbafW^`F^:%%9679 25;8'&957: bdb^Yda_ebbd^F]]F_F^fbSFQ _fd_f^e^<gS\WWW[WWgYF_^dVbf^`daadI^ < !<^e`XFbd^/?^Vfd_bf^ebaF[F\Fbaf^`e^TFbQ \faeW^f`^Y_F]FbaF^eTTf]d^]e_M^eSSf]]d^e`Q `3e`Od^\F`^@_fOZbe`F^\f^1FVVfd^Ce`eO_feW YZOO`f[ead^]Z`^KZdaf\febd^ 0J%%G@@J 9GD^=,9 ^F\fUR^\f^1FVVfd^Ce`eO_fe^FW ZbfaeXFbaF^e``e^CR@R,RW^]Z`^]fad^NbaF_bFa !!!Ra_fOZbe`F_FVVfd[RbFaW^[db^`3eTTF_Q aFbUe^[LF^Z`aF_fd_f^fbSd_XeUfdbf^Yda_ebbd F]]F_F^e[KZf]faF^Y_F]]d^f`^eTTd[ead^\FQ `FVead^ dTTF_d^ Y_F]]d^ `e^ Ceb[F``F_fe \F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F`^@_fOZQ be`F^\f^1FVVfd^Ce`eO_feI^ < 9 dVbf^dSSF_FbaF^\dT_M^\FYd]fae_F^Fba_d

`F^d_F^H>^\F`^Vfd_bd^ebaF[F\FbaF^`e^TFbQ \faeW^Y_F]]d^`d^]aZ\fd^\F``3eTTd[ead^\FQ `FVeadW^ Zbe^ ]dXXe^ Ye_f^ e`^ HA ^ \F` Y_FUUd^dSSF_ad^e^afad`d^\f^[eZUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e`^eTTd[ead^\F`FVead^F^_F[ebaF f`^bZXF_d^\F``e^Y_d[F\Z_eW^ZbfaeXFbaF e\^eYYd]fae^dSSF_ae^\f^e[KZf]adI^ < % ;`3dSSF_ae^\f^e[KZf]ad^\FTF^F]]F_F^[d_Q _F\eae^\e^Zbe^Xe_[e^\e^ ^H/W->^F^\e \ZF^Xe_[LF^\e^ ^HW:H^F^\FTF^[dbaFbF_F `3fb\f[eUfdbF^\F`^Y_FUUd^dSSF_ad^[LF^bdb Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfbfXd ]dY_e^fb\f[eadR^ c 5e^Y_F]Fbaeae^fb^OZ]ae^[LfZ]eR^J^YFbe \f^f__f[FTfOf`faM^\F``3dSSF_aeW^`e^OZ]ae^bdb \FTF^ _fYd_ae_F^ e`[Zbe^ fb\f[eUfdbF^ e`Q `3F]aF_bd^F^\FTF^[dbaFbF_F^eb[LF^V`f^e]Q ]FVbf^[f_[d`e_fR^ c Nb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^fb^bdXF^F YF_^[dbad^\f^Zbe^]d[fFaM^\dT_M^F]]F_F Y_d\daad^[F_afSf[ead^_f`e][fead^\e``e^CeQ XF_e^ \f^ CdXXF_[fd^ [dXYFaFbaF^ \e` KZe`F^_f]Z`af^`e^[d]afaZUfdbF^\F``e^]d[fFaM F\^f^YdaF_f^[dbSF_faf^e``3dSSF_FbaFI < ;fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^`3eTTdQ [ead^fbTfaF_M^V`f^dSSF_Fbaf^Y_F]Fbaf^e^Zbe Ve_e^[LF^]f^aF__M^fXXF\feaeXFbaF^\dYd ]Z``e^Oe]F^\F``PdSSF_ae^Yf&^e`aeI < ;`PeVVfZ\f[eae_fd^\dT_M^\FYd]fae_FW^e YFbe^\f^\F[e\FbUeW^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^-A^Vfd_bf^\e``PeVVfZ\f[eUfdbFW f`^Y_FUUd^\f^eVVfZ\f[eUfdbFW^\Fa_eaae^`e [eZUfdbF^TF_]eaeI^ c \dT_M^e`a_F] ^TF_]e_FW^ef^]Fb]f^\f^KZebad Y_FTf]ad^\e``F^TfVFbaf^\f]Yd]fUfdbf^fb^XeQ aF_feW^`F^]YF]F^d[[d__Fbaf^YF_^F]FVZf_F V`f^e\FXYfXFbaf^\f^_FVf]a_eUfdbFW^a_e][_fQ UfdbFW^ Td`aZ_e^ \F`^ \F[_Fad^ \f^ a_e]SF_fQ XFbadW^ bF``e^ Xf]Z_e^ \FaF_Xfbeae e``PF]fad^\F``e^eVVfZ\f[eUfdbFW^[dXF^fbQ \f[ead^e`^Y_F[F\FbaF^YZbad^F<I < 2 ; `3eVVfZ\f[eae_fd^ \dT_M^ \f[Lfe_e_F^ `e Y_dY_fe^_F]f\FbUe^F\^F`FVVF_F^\dXf[f`fd fb^1FVVfd^Ce`eO_fe^ef^]Fb]f^\F``3e_aR^?:> [RYR[RW^fb^Xeb[ebUe^`F^bdafSf[eUfdbf^F^`F [dXZbf[eUfdbf^]e_ebbd^F]FVZfaF^Y_F]]d `d^]aZ\fd^\F``3eTTd[eadI < ) ;FTFbaZe`f^f]aebUF^\f^e]]FVbeUfdbF^ebQ \_ebbd^Y_F]FbaeaF^Y_F]]d^`d^]aZ\fd^\F`Q `3eTTd[ead^\F`FVeadR 9f]YdbFW e`a_F] c [LFW^bF`^[e]d^fb^[Zf^bdb^]febd^Y_dYd]aF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^]dY_e ]aeOf`fadW^ dTTF_d^ `F^ ]aF]]F^ dSSF_aF^ bdb ]febd^FSSf[e[f^F"^e_aR^?7H^[RYR[RW^dTTF_d ]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^\f^[Zf e``3e_aR^?7>W^4 [RW^[RYR[RW^ b cJJfacg_egJf`]d^egYf`Regd`Ze`^cg`c` eOOdeg _VcPcg Xfag ?Ve_YdeYdg e_^aeg aeL Pdc`f[g d_g Pdca`cg TWg 4>::@A'g SWTQ ]e__fgcafgTG,KMgYdgXacZf]ege__egJf`L ]d^egZc`gd`Ze`^cg]fdgUf]fYdUdgdUUcL Od_dg e__fg YfPVf`^dg Zc`]dRdc`dg f Uc]e_d^=, < & ; `e^ TFb\fae^ eT_M^ `ZdVd^ fb^ Zb^ Zbf[d `daadI < 5 ; f`^ 6944:; .819 ;^ Sf]]ead^ fb^ < MM\HIW[WW YF_^f`^H `daadI < : ;`F^:%%9679;25;8'&957: bdb^Yda_ebbd F]]F_F^ fbSF_fd_f^ e^ <g S\WWW[WW YF_^ dVbf `daadI^ < ;`e^\dXeb\e^\f^Ye_aF[fYeUfdbF^e``3fbQ [ebadW^ [d__F\eae^ \e^ Zbe^ Xe_[e^ \e^ H/W->^F^\e^\ZF^Xe_[LF^\e^ ^HW:HW^Te Y_F]Fbaeae^fb^OZ]ae^[LfZ]eW^Fba_d^`F^d_F H>^\F`^Vfd_bd^ebaF[F\FbaF^`3fb[ebadR^J YFbe^\f^f__f[FTfOf`faM^\F``3dSSF_aeW^`e^OZ]ae bdb^\FTF^_fYd_ae_F^e`[Zbe^fb\f[eUfdbF e``3F]aF_bd^F^\FTF^[dbaFbF_F^eb[LF^V`f e]]FVbf^[f_[d`e_f^Ye_f^e`^HA ^\F`^Y_FUUd Oe]F^\e^TF_]e_F^e^afad`d^\f^[eZUfdbFI < `PeVVfZ\f[eae_fd^\dT_M^\FYd]fae_FW^e YFbe^\f^\F[e\FbUeW^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^-A^8]F]]ebae<^Vfd_bf^\e``PeVQ VfZ\f[eUfdbFW^ f`^ Y_FUUd^ \f eVVfZ\f[eUfdbFW^ \Fa_eaae^ `e^ [eZUfdbF TF_]eaeI^\dT_M^e`a_F] ^TF_]e_FW^ef^]Fb]f \f^KZebad^Y_FTf]ad^\e``F^TfVFbaf^\f]Yd]fQ Ufdbf^fb^XeaF_feW^`F^]YF]F^d[[d__Fbaf^YF_ F]FVZf_F^ V`f^ e\FXYfXFbaf^ \f^ _FVf]a_eQ UfdbFW^a_e][_fUfdbFW^Td`aZ_e^\F`^\F[_Fad \f^a_e]SF_fXFbadW^bF``e^Xf]Z_e^[LF^]e_M \FaF_Xfbeae^ e``PF]fad^ \F``e^ eVVfZ\f[eQ UfdbFW^ [dXF^ fb\f[ead^ e`^ Y_F[F\FbaF YZbad^F<R^ c J\^fb[ebad^eTTFbZadW^Yda_ebbd^F]]F_F Y_F]FbaeaF^ Y_F]]d^ `d^ ]aZ\fd^ \F`^ ]daadQ ][_faad^eTTd[ead^dSSF_aF^fb^eZXFbad^\F` KZfbadW^Fba_d^f`^aF_XfbF^\f^Vfd_bf^\fF[fW^F" e_aR^?:/^[RYR[RR 9G=C1N%NBEG^9G0DN^N++B*NDN A`g V`g UePPdcag NeOOadZe^cg eg ^afg Xde`dg N\^\ Yd^cgd`g6fPPdcgEe_eOade[g$deg>afUcgEc`L ]fae[g]daeUeR\g0cY^cad`cg`\gMS[gf]dNdZe^c Zc`gafPc_eafg_dZf`Regf]d_dRdeg`\gKIGg]f_gTS ePcY^cgTIHF

):77:/;eXXea^eUf`^cge_gS7gXde`cg2Q7N\^\5[g]d U?\gTMMgZdaZe[gZc`Nd`e`^fgZc`gY^ae]e XadJe^e[gZc`gZca^d_fgd`^fa`c[gZc`gXacL Xadf^=gY^fYYeg]d^^e[gYe_Jcge_^ad\g6dXcaL ^e^cg`f_gEe^eY^cg+eOOadZe^dg]dg6fPPdc Ee_eOadege_gNcP_dcgFI[gX\__egIWK[gYVO\gH[ Ze^\g@BQ[gJe`dgZe^eY^e_dgG[gaf`]d^egZe^eL Y^e_fg<gHMW[GKD c +eVVfd_f^fbSd_XeUfdbf^]Z`^]fad^NbaF_bFa !!!Ra_fOZbe`F_FVVfd[RbFa^ dTTF_d Y_F]]d^ f`^ eTTd[ead^ \F`FVead^ 8@F`R A6-?2:6??::<R c N`^ ]daad][_faad^ eTTd[ead^ FSSFaaZF_M Y_F]]d^f`^]Zd^]aZ\fd^aZaaF^`F^eaafTfaM^[LFW e^bd_Xe^\FV`f^e_aaR^?7-^F^]FVZFbaf^[RYR[RW \FTdbd^F]]F_F^[dXYfZaF^fb^Ceb[F``F_fe d^\eTebaf^e`^0RGRR CCCCC 0acZf]VafgfYfZV^dJeg`\gSQQBIMg gTHTBIHg HMBIFg64> Y_dXd]]F^\e (BE=.J^=RYRJR^ ^> J55N=B^9N^5GE9N@J N`^]daad][_faad^\daaR^Jbadbfd^9F^@dXXe]fW^eTQ Td[ead^fb^1FVVfd^Ce`eO_feW^[db^]aZ\fd^fb^5fe 9F`^.`FOf][fad^bR^>:W^Tf]ae^`3d_\fbebUe^\f^\FQ `FVe^ \F`^ 0RGR^ \daaR^ CeXYeVbe^ fb^ \eae^ >6 Xe_Ud^>AA7W^Tf]aF^`F^]FbaFbUF^bbR^?6:2>AHH F^?662>AHHW^Tf]af^V`f^e_aaR^?6H^Of]^F^?7-^[RYR[RW eTTf]e [LF^f`^Vfd_bd^TWg4>::@A'gSWTQg]e__fgcaf TG,TM[ Y_F]]d^f`^]Zd^]aZ\fdW^]f^Y_d[F\F_M^e``e TFb\fae^]FbUe^fb[ebadW^[db^Ve_e^fb^[e]d^\f Yf&^dSSF_FbafW^\FV`f^fXXdOf`f^fb^[e`[F^\F][_faaf e``F^]FVZFbaf^[db\fUfdbf^F^Xd\e`faM) < 8 `e^TFb\fae^eT_M^`ZdVd^fb^-^8]Ff<^`daafI < . f^ 69442;.819 ]dbd^f^]FVZFbaf)^4 `daad <gF\WTM[WWDg/ `daad^<gM\GIW[WWD ? `daad^< I\SMG[WWDgH> `daad^<gTH\QGM[WWD H: `daad <gH\KMH[WWDg>: `daad^<gQ\KGT[WWD < $ ;dTF^Tf^]febd^Yf&^dSSF_FbafW^`F^:%%9679;25 8'&957:;bdb^Yda_ebbd^F]]F_F^fbSF_fd_f e^<gTWW[WW YF_^f`^`daad^bR^>:^F^e <gSMW[WW YF_^[fe][Zbd^\Ff^_fXebFbaf^`daafI < ! f`^Y_F]FbaF^eTTf]dW^e`XFbd^/?^VVR^ebQ aF[F\Fbaf^`e^TFb\faeW^]e_M^eSSf]]d^e``3e`Od \F`^@_fOZbe`F^\f^1FVVfd^Ce`eO_feW^YZOQ O`f[ead^]Z`^KZdaf\febd^ 0J%%G@@J^9GD =,9 ^F\fUR^\f^1FVVfd^Ce`eO_fe^FW^ZbfaeQ XFbaF^ e``e^ CR@R,RW^ ]Z`^ ]fad^ NbaF_bFa !!!Ra_fOZbe`F_FVVfd[RbFaW^[db^`3eTTF_Q aFbUe^[LF^Z`aF_fd_f^fbSd_XeUfdbf^Yda_ebbd F]]F_F^e[KZf]faF^Y_F]]d^`3eTTd[ead^\FQ `FVead^ dTTF_d^ Y_F]]d^ `e^ Ceb[F``F_fe \F``F^G]F[ZUfdbf^NXXdOf`fe_f^\F`^@_fOZQ be`F^\f^1FVVfd^Ce`eO_feI^ < 9<^dVbf^dSSF_FbaF^\dT_M^\FYd]fae_F^Fba_d `F^d_F^H>^\F`^Vfd_bd^ebaF[F\FbaF^`e^TFbQ \faeW^Y_F]]d^`d^]aZ\fd^\F``3eTTd[ead^\FQ `FVeadW^ Zbe^ ]dXXe^ Ye_f^ e`^ HA ^ \F` Y_FUUd^dSSF_ad^e^afad`d^\f^[eZUfdbF^XFQ \febaF^e]]FVbd^[f_[d`e_F^bdb^a_e]SF_fOf`F fbaF]aead^e`^eTTd[ead^\F`FVead^F^_F[ebaF f`^bZXF_d^\F``e^Y_d[F\Z_eW^ZbfaeXFbaF e\^eYYd]fae^dSSF_ae^\f^e[KZf]adI^]f^Y_FQ [f]e^ [LF^ `F^ ]YF]F^ d[[d__Fbaf^ YF_^ F]FQ VZf_F^V`f^e\FXYfXFbaf^_F`eafTf^e`^\F[_Fad \f^a_e]SF_fXFbad^]dbd^e^[e_f[d^\F``3eVQ VfZ\f[eae_fd^ F^ TF__ebbd^ [e`[d`eaF^ e`Q `3F]fad^\F``e^TFb\faeI c S<^`3dSSF_ae^\f^e[KZf]ad^\FTF^F]]F_F^[d_Q _F\eae^\e^Zbe^Xe_[e^\e^ ^H/W->^F^\e \ZF^Xe_[LF^\e^ ^HW:H^F^\FTF^[dbaFbF_F `3fb\f[eUfdbF^\F`^Y_FUUd^dSSF_ad^[LF^bdb Yda_M^F]]F_F^fbSF_fd_F^e`^Y_FUUd^XfbfXd ]dY_e^fb\f[eadR^ c 5e^Y_F]Fbaeae^fb^OZ]ae^[LfZ]eR^J^YFbe \f^f__f[FTfOf`faM^\F``3dSSF_aeW^`e^OZ]ae^bdb \FTF^ _fYd_ae_F^ e`[Zbe^ fb\f[eUfdbF^ e`Q `3F]aF_bd^F^\FTF^[dbaFbF_F^eb[LF^V`f^e]Q ]FVbf^[f_[d`e_fR^^ c Nb^[e]d^\f^dSSF_ae^Y_F]Fbaeae^fb^bdXF^F YF_^[dbad^\f^Zbe^]d[fFaM^\dT_M^F]]F_F Y_d\daad^[F_afSf[ead^_f`e][fead^\e``e^CeQ XF_e^ \f^ CdXXF_[fd^ [dXYFaFbaF^ \e` KZe`F^_f]Z`af^`e^[d]afaZUfdbF^\F``e^]d[fFaM F\^f^YdaF_f^[dbSF_faf^e``3dSSF_FbaFI^ < fb^[e]d^\f^Yf&^dSSF_aF^Te`f\FW^f`^eTTdQ [ead^fbTfaF_M^V`f^dSSF_Fbaf^Y_F]Fbaf^e^Zbe Ve_e^[LF^]f^aF__M^fXXF\feaeXFbaF^\dYd


]Z``e^Oe]F^\F``PdSSF_ae^Yf&^e`aeI < ;`PeVVfZ\f[eae_fd^\dT_M^\FYd]fae_FW^e YFbe^\f^\F[e\FbUeW^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^6A^8bdTebae<^Vfd_bf^\e``PeVQ VfZ\f[eUfdbFW^ f`^ Y_FUUd^ \f eVVfZ\f[eUfdbFW^ \Fa_eaae^ `e^ [eZUfdbF TF_]eaeI^^\dT_M^e`a_F] ^TF_]e_FW^ef^]Fb]f \f^KZebad^Y_FTf]ad^\e``F^TfVFbaf^\f]Yd]fQ Ufdbf^fb^XeaF_feW^`F^]YF]F^d[[d__Fbaf^YF_ F]FVZf_F^ V`f^ e\FXYfXFbaf^ \f^ _FVf]a_eQ UfdbFW^a_e][_fUfdbFW^Td`aZ_e^\F`^\F[_Fad \f^a_e]SF_fXFbadW^bF``e^Xf]Z_e^\FaF_XfQ beae^ e``PF]fad^ \F``e^ eVVfZ\f[eUfdbFW [dXF^fb\f[ead^e`^Y_F[F\FbaF^YZbad^F<I < 2 ; `3eVVfZ\f[eae_fd^ \dT_M^ \f[Lfe_e_F^ `e Y_dY_fe^_F]f\FbUe^F\^F`FVVF_F^\dXf[f`fd fb^1FVVfd^Ce`eO_fe^ef^]Fb]f^\F``3e_aR^?:> [RYR[RW^fb^Xeb[ebUe^`F^bdafSf[eUfdbf^F^`F [dXZbf[eUfdbf^]e_ebbd^F]FVZfaF^Y_F]]d `d^]aZ\fd^\F``3eTTd[eadI < ) ;FTFbaZe`f^f]aebUF^\f^e]]FVbeUfdbF^ebQ \_ebbd^Y_F]FbaeaF^Y_F]]d^`d^]aZ\fd^\F` eTTd[ead^\F`FVeadR 9f]YdbFW^e`a_F] c [LFW^bF`^[e]d^fb^[Zf^bdb^]febd^Y_dYd]aF dSSF_aF^\f^e[KZf]ad^Fba_d^f`^aF_XfbF^]dY_e ]aeOf`fadW^ dTTF_d^ `F^ ]aF]]F^ dSSF_aF^ bdb ]febd^FSSf[e[f^F"^e_aR^?7H^[RYR[RW^dTTF_d ]f^TF_fSf[Lf^Zbe^\F``F^[f_[d]aebUF^\f^[Zf e``3e_aR^?7>W^4 [RW^[RYR[RW^ b cJJfacg_egJf`]d^egYf`Regd`Ze`^cg`c` eOOdeg _VcPcg Xfag ?Ve_YdeYdg e_^aeg aeL Pdc`f[g d_g Pdca`cg TWg 4>::@A'g SWTQ ]e__fgcafgTG,KMgYdgXacZf]ege__egJf`L ]d^egZc`gd`Ze`^cg]fdgUf]fYdUdgdUUcL Od_dg e__fg YfPVf`^dg Zc`]dRdc`dg f Uc]e_d^=, < & `e^TFb\fae^eT_M^`ZdVd^fb^^-^8]Ff<^`daafI

** < 5 f^XafRRdgOeYfg]dbd^f^]FVZFbaf)^4 `daad <gF\WTM[WWD / `daad^<gM\GIW[WWD ? `daad^< I\SMG[WWD H> `daad^<gTH\QGM[WWD H: `daad <gH\KMH[WWDg>: `daad^<gQ\KGT[WWDg < : dTF^Tf^]febd^Yf&^dSSF_FbafW^`F^:%%9679;25 8'&957:;bdb^Yda_ebbd^F]]F_F^fbSF_fd_f e^<gTWW[WW YF_^f`^`daad^bR^>:^F^e^<gSMW[WW YF_^[fe][Zbd^\Ff^_fXebFbaf^`daafI < `e^\dXeb\e^\f^Ye_aF[fYeUfdbF^e``3fbQ [ebadW^ [d__F\eae^ \e^ Zbe^ Xe_[e^ \e^ H/W->^F^\e^\ZF^Xe_[LF^\e^ ^HW:HW^Te Y_F]Fbaeae^fb^OZ]ae^[LfZ]eW^Fba_d^`F^d_F H>^\F`^Vfd_bd^ebaF[F\FbaF^`3fb[ebadR^J YFbe^\f^f__f[FTfOf`faM^\F``3dSSF_aeW^`e^OZ]ae bdb^\FTF^_fYd_ae_F^e`[Zbe^fb\f[eUfdbF e``3F]aF_bd^F^\FTF^[dbaFbF_F^eb[LF^V`f e]]FVbf^[f_[d`e_f^Ye_f^e`^HA ^\F`^Y_FUUd Oe]F^\e^TF_]e_F^e^afad`d^\f^[eZUfdbFI < `PeVVfZ\f[eae_fd^\dT_M^\FYd]fae_FW^e YFbe^\f^\F[e\FbUeW^Fba_d^f`^aF_XfbF^YFQ _Fbad_fd^\f^-A^8]F]]ebae<^Vfd_bf^\e``PeVQ VfZ\f[eUfdbFW^ f`^ Y_FUUd^ \f eVVfZ\f[eUfdbFW^ \Fa_eaae^ `e^ [eZUfdbF TF_]eaeI^\dT_M^e`a_F] ^TF_]e_FW^ef^]Fb]f \f^KZebad^Y_FTf]ad^\e``F^TfVFbaf^\f]Yd]fQ Ufdbf^fb^XeaF_feW^`F^]YF]F^d[[d__Fbaf^YF_ F]FVZf_F^ V`f^ e\FXYfXFbaf^ \f^ _FVf]a_eQ UfdbFW^a_e][_fUfdbFW^Td`aZ_e^\F`^\F[_Fad \f^a_e]SF_fXFbadW^bF``e^Xf]Z_e^[LF^]e_M \FaF_Xfbeae^ e``PF]fad^ \F``e^ eVVfZ\f[eQ UfdbFW^ [dXF^ fb\f[ead^ e`^ Y_F[F\FbaF YZbad^F<R^ c J\^fb[ebad^eTTFbZadW^Yda_ebbd^F]]F_F Y_F]FbaeaF^ Y_F]]d^ `d^ ]aZ\fd^ \F`^ ]daadQ ][_faad^eTTd[ead^dSSF_aF^fb^eZXFbad^\F` KZfbadW^Fba_d^f`^aF_XfbF^\f^Vfd_bf^\fF[fW^F" e_aR^?:/^[RYR[RR 9G=C1N%NBEG^9G0DN^N++B*NDN

A`gV`gUePPdcagNeOOadZe^cgegYfdgXde`dgNVcad ^faaegXd gYfUd`^faae^c[gYd^cgd`g6fPPdcgEeL _eOade[g+aeRdc`fgEacZfg$e_e`d]d[gEc`^ae]e 8ePe`dgLg1eaeZd`f__c[gZc`Nd`e`^fgZc`gJde 8ePe`d[gXacXadf^=g4e^^VYc[ge_^aegXacXadf^= 4ef^e`cg1VaeZfgfg%eade`cg1VaeZf[gYe_Jc e_^ad ):77:/;eXXea^eUf`^cge]dOd^cgegUePeRRd`c d`g ZcaYcg ]dg ZcY^aVRdc`f[g ]dg U?g TMS XcY^cg e_g Xde`cg ^faae[g YZe_eg @Dg e_ :\E\>\*\g]dg6fPPdcgEe_eOadege_gNcP_dc 4:@BSH[gXea^dZf__egMQS[gYVOe_^fa`cgM\g ):77:/;eXXea^eUf`^cgd`gZcaYcg]dgZcY^aVL Rdc`f[g ]dg U?g TSM[g e_g Xde`cg XadUc[ YZe_eg@Dge_g:\E\>\*\g]dg6fPPdcgEe_eL Oadege_gNcP_dcg4:@BSH[gX\__egMQS[gYVOgH\g ):77:/ eXXea^eUf`^cgd`gZcaYcg]dgZcY^aVL Rdc`fge_gXde`cgXadUc[g]dgU?gTMW[gYZe_e @Dgge_g:\E\>\*\g]dg6fPPdcgEe_eOadege_ NcP_dcg4:@BSH[gX\__egMQS[gYVOgG\ ):77:/ eXXea^eUf`^cgd`gZcaYcg]dgZcY^aVL Rdc`fge_gXde`cg?Vd`^c[gYZe_eg@[g]dgU? SKGDge_g:\E\>\*\g]dg6fPPdcgEe_eOadege_ NcP_dcg4:@BSH[gX\__egMQS[gYVOe_^fa`c TK\ ):77:/ eXXea^eUf`^cgd`gZcaYcg]dgZcY^aVL Rdc`fgXcY^cge_gXde`cgYfZc`]c[gYZe_e ([g ]dg U?g TQWDg e_g :\E\>\*\g ]dg 6fPPdc Ee_eOadege_gNcP_dcg4:@BSH[gX\__egMQS[ YVOgST\ A`g V`g UePPdcag NeOOadZe^cg eg ?Ve^^ac Xde`dg NVcadg ^faaeg Xd g _eY^adZcg Yc_eaf[ Yd^cg d`g 6fPPdcg Ee_eOade[g +aeRdc`f EacZfg $e_e`d]d[g Ec`^ae]eg 8ePe`dg 1eaeZd`f__c[g `\g TQ[g Zc`Nd`e`^fg Zc` eafeg YcXaeY^e`^fg d_g UePeRRd`cg e_ Xde`cg ^faae[g XacXadf^=g %ea^d`c[g eafe YcXaeY^e`^fg d_g UePeRRd`cg e_g Xde`c

XadUc[g e_^aeg XacXadf^=g 1VaeZfg 4efL ^e`cgfg1VaeZfg%eade`c[gYe_Jcge_^adgg ):77:/ _eY^adZcgYc_eafge_gXde`cg?Vea^c[ge_ :\E\>\*\g ]dg 6fPPdcg Ee_eOadeg NcP_dc 4:@BSH[gX\__egQMM[gYVOgG[gU?gSFM\ Lg0fagdgYVOe_^fa`dgQgfgKg-gY^e^egXafYf`L ^e^eg]cUe`]eg]dgEc`ZfYYdc`fgd`gYeL `e^cadeg d`g ]e^eg SFBWQBTIFH[g Xac^\g `\ @BKQMQ[g d`^fPae^eg d`g ]e^eg TTBTTBTIFH Xac^cZc__cg`\g>BHMKFDgXfagd_gYVOe_^fa`c Hg-gY^e^egXafYf`^e^eg]cUe`]eg]dgEc`L ZfYYdc`fg d`g Ye`e^cadeg d`g ]e^e SFBWQBTIFH[gXac^g`\g@BKQMT[ggd`^fPae^e d`g]e^egTTBTTBTIFHgXac^g`\g>BHMKH\g c +eVVfd_f^fbSd_XeUfdbf^]Z`^]fad^NbaF_bFa !!!Ra_fOZbe`F_FVVfd[RbFa^ dTTF_d Y_F]]d^ `3eTTd[ead^ \F`FVead^ 8@F`R A6-?2:6??::<R c N`^ ]daad][_faad^ eTTd[ead^ FSSFaaZF_M Y_F]]d^f`^]Zd^]aZ\fd^aZaaF^`F^eaafTfaM^[LFW e^bd_Xe^\FV`f^e_aaR^?7-^F^]FVZFbaf^[RYR[RW \FTdbd^F]]F_F^[dXYfZaF^fb^Ceb[F``F_fe d^\eTebaf^e`^0RGRR



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.