Aqui SBE 133 Noviembre-Diciembre 2013

*-" )* *!$ $ ' )D $$ +* )*1$ ( - $ $ ( -

Srta. MONTSERRAT MARCHINI Madrina saliente de la Junta EspaĂąola de Covadonga en el ejercicio 2012-2013

+/,&0 ( /, 9+(

AQUI $' #$ $ ! ! ($ # # (% J$!

*#+$"#',#

$!#)*#+$"#',#

$*#!,(* 0"$!(

$*#!,(*

*,# / $+#1(

- %0*!$,( !$(' & (

0.$!( #&+

/

#*# ) # ! ' + () ! $(% ) ! ' - 1$./ . /* *. ' 0)$ * * % /* .*'$ $/ - 0) )0) $* . *./ -' )* . +- / ) # 0) *-" )* '0 - /$1* .$)* ( )/ ) - 0) +0 '$ $*) ,0 )*. $)!*-( 4 +0 ( %*- -. ) *)/ )$ * 4 +- . )/ $*)

# $'" (

.

$ # + ' )$ # $# ! #=

%$! ! # %! #) " - $ % #

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

9+/ , . /+9 .

&* (

< :/ ;7A/ 23 =D/2=<5/ 3< :/ 1/>7::/ 23: =A>7B/: A>/N=: (@ /<73: (CK@3H %@3A723<B3 23 :/ ( G (@ 3@</<2= %32@/8/ %@3A723<B3 23 :/

'6 B>H6 9: :HI: E6G6 ;:H I:?6G A6 DK69DC<6 :C A6 86E>AA6 9:A #DHE>I6A HE6UDA IJKD 86G68I:G:H :HE:8>6A:H EDG 86:G :C HQ769D N6 FJ: 68J9:C BQH ;>:A:H 6 :HI6 8:A: 7G68>VC N IDB6BDH 8DBD K:G7:C6

9: AD FJ: HJ8:9:GQ 6A 9T6 H><J>:CI: :C :A +6GFJ: HIJG>6H 4 8DBD 8696 6UD ADH :CIGDH =:GB6CDH :HIQC EG:H:CI:H 8DC HJH 8J69GDH 9: 76> A: <6>I6H N ID9D AD 9:BQH :C :HIDH 68IDH 7:CS;>8DH :HEJSH 9: A6

B>H6 N :C JC 9:H;>A: 9: 8696 <GJED :C ADH FJ: :A 8DADG 9:A 9>K:GHD K:H IJ6G>D 9: A6H 9>;:G:CI:H G:<>DC:H :H E6UDA6H FJ: EDC:C JC 68:CID G:6A B:CI: ;:HI>KD AA:<6C 6 A6 .6A6 E6G6 :?:8JI6G HJH 96CO6H B>HB6H

(@/ </ "/ (=:/ 23 'C7H '/4/3: 'C7H %@3A723<B3 23: '3/: :C0 A>/N/ (@ 3@</<2= %32@/8/ G (@/ =<167B/ '3G 23 %32@/8/ 3< 3: /B@7= 23 :/ />7::/

&* (

% #

FJ: K:C>BDH G:H:U6C9D HJ DG><:C :C ,0a^ .

BJ8=6H 9: :AA6H 8DC 9>:O H><ADH 6

'DH 6H>A69DH K>K:C 9: CJ:KD HJ E6H696 ?JK:CIJ9 :C JC6 IG6CFJ>A6 K:?:O 6H:<JG696 :C ID9DH HJ 6HE:8 IDH EDG A6 :C:;>8:C8>6 HE6UDA6 HDHI:C>96 :C 7J:C6 E6GI: EDG ADH >C<G:HDH FJ: H: D7I>:C:C EDG B:9>D 9: A6 %JCI6 HE6UDA6 9: DK69DC<6 N6 FJ: 8696 .D8>:969 =:GB6C6 :HIQ JC>96 :C :A B>HBD :HETG>IJ :A 9: B6CI:C:G K><:CI:H 9:H9: HJ ;JC 968>VC =68: BQH 9: H><AD N B:9>D ADH 6EDNDH 6 CJ:HIGDH 6H>ADH H6 :H A6 B6NDG K>GIJ9 9: CJ:HIG6 .D8>: 969 8J>96G 9: CJ:HIGDH ?VK:C:H K>: ?DH 96GA:H 8D7>?D :C HJ HDA:969 EGDEDG8>DC6GA:H 8J>969DH BS9>8DH CD HVAD ADH ;TH>8DH H>CD I6B7>SC ADH B:CI6A:H N6 FJ: E:G>V9>86B:CI: ADH :CIGDH FJ: 8J:CI6C 8DC 86BEDH 9:EDGI>KDH >CK>I6C 6 CJ:HIGDH 6H>A69DH 8DBD =>OD :A -:6A AJ7 HE6U6 :A 9:A E6H69D 6<DHID >C K>IQC9DADH 6 E6H6G :A 9T6 :C HJH >CH I6A68>DC:H 9: $CHJG<:CI:H E6G6 8:

7<1= ;/2@7</A 17<1= @=AB@=A 03::=A G 17<1= D3AB72=A @357=</:3A 3A>/N=:3A

A:7G6G '6 1>G<:C 9: A6 +6ADB6 I6C ID :C :A I:6IGD 8DBD :C :A <G6C E6I>D :C :A FJ: H: A:H H>GK>V JC6 :HIJE:C 96 8DB>96 "G68>6H .G -J>O EDG :HI6 DEDGIJC6 N 7:CS;>86 >CK>I68>VC E6G6 FJ: CJ:HIGDH 6C8>6CDH K>K6C

JC6H =DG6H :C :H: 6B69D AJ7 EJ:H :HDH BDB:CIDH HDC BQH FJ: JC IG6I6B>:CID 8ATC>8D E6G6 :AADH JC :HITBJAD E6G6 H:<J>G K>K>:C9D EDG FJ: CD 76HI6 H67:G K>K>G H>CD I6B 7>SC FJ:G:G K>K>G

;>4.:6E. A:. 2824.:@2 02:. /.682 2: 28 2?<82:1;>;?; ).8J: 12 8;? .:16 82? 0;: 8. .?6?@2:06. 12 @;1.? 8.?

9.1>6:.? 12 8;? 2:@>;? 52>9.:;? ?A? 3.9686.? ?A? .964;? D <K/860; 2: 42:2>.8 8 M 12 ;0@A/>2 <.?.1; $.@.86.

3A2 3;>9.892:@2 <>2?2:@.1. <;> 28 A2><; 12 ,;8A:@.>6.? . 8;? .:06.:;?

2: 8. ).8.

0;9; 288.? .0;?@A9 />.: 0;: A:. 92>62:1. . 8. 9.1>682 I. A:. 05;0;8.@.1. ?2>B61. <;> @; 1.? ?6: =A2 3.8@.>.: 8;? @H<60;? 0;9 <.I2>;? 128 05;0;8.@2 8;? 05A>>;?

0.82:@6@;? 5205;? .88H 96?9; 2: 28 <2=A2I; 7.>1H: 6:@2>6;> 12 8. ).8. O 5 08.>; ?2 16B6>@62>;: 8. 9.> 288.? D 8;? <>2?2:@.1;? . 8. 9.1>6:. (@B/ #/B/:7/ C:M/A /1/A/ <C3D/ ;/2@7</ 23 :/ C<B/ A>/N=:/ 23 =D/2=<5/ 1=< 3: @C>= 23 +=:C<B/@7/A

;9; 2?@F 6:?@6@A61; 12?12 5.02 .I;? 8. !A:@. ?<.I;8. 12 ;B.1;:4. <>2?2:@J . =A62: ?2>F 8. <>JC69. 9.1>6:. 128 272>0606;

.0@; =A2 ?2 >2.86EJ 2: 28 ). % #

8J: (;7; 2: ?A B2>?6J: <.>. 3A9.

1;>2? ". <>2?2:@.06J: ?64A2 0A.: 1; 28 2?@.:1.>@2 12 8. !A:@. 2? 2: @>24.1; <;> 8. ?.862:@2 9.1>6:. . 8. =A2 8824. <.>. 0AD. 02>29;:6. ?2

2?2.9;? . 8. )>@. $.@.86.

A8H.? .0.?. A:. 3286E D 12?@.0.

1. 8./;> 2: <>; 12 :A2?@>;? .?68.1;?

D. =A2 <.>. 288;? ?2 5.02: @;1;? 8;?

2B2:@;? ?;06.82? D .>@H?@60;? ;>4. :6E.1;? <;> 8. ! D 8.? 6>20@6 B.? 12 8.? 92:06;:.1.? ?;0621.12?

2?<.I;8.? &* (

$<C68>D 5JAD6<6 C68>V :C A6 <J>EJO8D6C6 K>AA6 9: P>76G :A 9: ?JC>D 9: N BJ:G: :C (69G>9 :C 9: D8IJ7G: 9: 0CD 9: ADH E>CIDG:H :HE6UDA:H BQH >BEDGI6CI:H 9:A H><AD 3$3 N EG>C8>E>DH 9:A 33 H 8DCD8>9D EDG HJH 8J69GDH 8DH

&* (

IJB7G>HI6H N G:IG6IDH

A 6GI: A: K:CT6 EDG A6 B>HB6 ;6 B>A>6 EJ:H HJ E69G: +AQ8>9D 5JAD6<6 9DB>C676 :A 96B6HFJ>C6 9D D 6I6J?T6 D7G6 8DCH>HI:CI: :C A6 >C8GJHI68>VC 9: DGD N EA6I6 HD7G: =>: GGD D 68:GD 6HI6 G:8DG96G ADH D7?: IDH 9: :H: I>ED FJ: H: K:C9:C :C /DA:9D N FJ: CD =6N IJG>HI6 FJ: CD 69FJ>:G6 JC D7?:ID 9: :H6 B6CJ;68 IJG6

+DG DIGD A69D :G6 HD7G>CD 9: 6C>:A 5JAD6<6 JCD 9: ADH BQH 9:H I6869DH 8:G6B>HI6H 9: HJ SED86

$<C68>D =>OD HJ D7A><696 ?>G6 EDG BSG>86 K>H>I6C9D EG>B:GD )J:K6 4DG@ 8DC 8J69GDH N H>:C9D G:8> 7>9D EDG :A +G:H>9:CI: DDA9<: C DIG6 9: HJH ?>G6H :MEDC>:C9D HJ D7G6 K>H>I6 (SM>8D .6CI>6<D 9: =>A: N J:CDH >G:H N :H :C :HI6 86E>I6A FJ: G:8>7: A6 CDI>8>6 9: A6 BJ:GI: 9: HJ E69G: AD FJ: 86JHV JC6 8DC;J H>VC 8DC :A 6E:AA>9D EJ:H HJH H:<J> 9DG:H 8G:N:C9D FJ: :A BJ:GID :G6 SA DG><>C6GDC JC6 GQE>96 :HE:8JA68>VC 9: HJH 8J69GDH

C A6 EDH696 9: 1>O86TCDH

9: .:<DK>6 A: H>GK>V 8DBD BDI>KD E6G6 G:6A>O6G A6 9:8DG68>VC 9: A6 VE: G6 9: !6AA6 A G:I67AD 9: B6:H: +: 9GD IDB69D 9:A G:A6ID FJ: :GK6CI:H =68: :C :A ,J>?DI: C 86GIVC E>:9G6 EDA>8GDB69D EDG SA B>HBD G:6A>OV JC6 ;><JG6 9: .6C8=D +6CO6 N DIG6 9: DC ,J>?DI: -:6A> OV I6B7>SC ADH 9:8DG69DH E6G6 '6 K>96 7G:K: I6B7>SC 9: !6AA6 N "DN:H86H 9: CG>FJ: "G6C69DH

J6C9D 6C>:A .JQG:O CJ:H IGD +G:H>9:CI: 9: A6 :C:;>8:C8>6 9:8>9>V EA6CI6G A6 ;><JG6 9:A E:GHD C6?: 8:GK6CI>CD :C :A DBEA:?D (S 9>8D CIDC>CD !:GCQC9:O -D9GT<J:O :A :H8JAIDG N E>CIDG B6C9D "VB:O 9: A76 CD :C8DC IG676 A6 867:O6 >9:6A E6G6 :A 8J:G ED 9:A 676AA:GD 9: A6 /G>HI: !><JG6 N CDHDIGDH FJ: I:CT6BDH JC <G676 9D 9:A ,J>?DI: FJ: 5JAD6<6 =67T6 G:6A>O69D :C 86GIVC E>:9G6 H: A6 9> BDH E6G6 HJ :H8JAIJG6 N :H6 867: O6 :H A6 FJ: 8DBEDC: :A IDI6A 9: A6 DG><>C6A :HI6IJ6 9:A .:UDG 9: '6 (6C8=6 :C CJ:HIGD #DHE>I6A HE6 UDA

% #

J6AFJ>:G :BEG:H6 H:6 8J6A H:6 HJ <>GD D HJ I6B6UD :A G:8JGHD I>: C: I6CI6 >BEDGI6C8>6 8DBD A6 A67DG FJ: :C :AA6H H: AA:K: 6 867D H>:C9D FJ>OQH :A BQH >BEDGI6CI: :A 9: G: 8JGHDH 69B>C>HIG6I>KDH N6 FJ: :C :HIDH H: >C8AJN: CD HVAD ADH :A:B:C IDH :BEA:69DH :C HJ :?:8J8>VC H>CD I6B7>SC :A I>:BED FJ: H: :BEA:6 EDGFJ: SHI: 8DBD :A 9>C:GD I6B 7>SC H: <6HI6 :H 9:8>G H: E>:G 9: N CD =6N 9:HE:G9>8>D BQH IG>HI: FJ: :A I>:BED E:G9>9D WC ;JB6C 9D :C A6H =DG6H 9: IG676?D

A G:8JGHD :H :CIG: DIG6H 8DH6H :A QG7>IGD :A :ME:9>:CI: FJ: CDH =6 9: AA:K6G 6 A6 8DGDC68>VC 9: A6 :B EG:H6 EGDEJ:HI6 JC :A:B:CID 9:A FJ: JC6 8DA:8I>K>969 EJ:9: :8=6G B6CD E6G6 68J9>G 6 JC6 C:8:H>969 D AA:K6G 6 7J:C ;>C JC 7J:C IG676?D

'6 .D8>:969 9: :C:;>8:C8>6 HE6UDA6 CD EJ:9: :HI6G :M:CI6 9: JC 9:E6GI6B:CID FJ: G:<JA: HJH G: 8JGHDH N 8J:CI6 8DC JC 7>:C 9DI6 9D :FJ>ED 9: E:GHDC6H E:C9>:CI:H 9: A6 86A>969 9: ADH H:GK>8>DH N 9: 8J6CIDH G:8JGHDH H:6C C:8:H6G>DH E6G6 A6 B:?DG 69B>C>HIG68>VC 9: ID9D :A BDK>B>:CID FJ: 9: :AADH 9:E:C 9: +DG I6CID H: AA:KV 6 867D :C :A B>HBD 9:E6GI6B:CID JC 8DC8JGHD :CIG: :A E:GHDC6A 8DC :A ITIJAD 9: +GD

% #

N:8IDH 9: *EI>B>O68>VC N =DGGD 9: -:8JGHDH 9: A6 .D8>:969 9: :C: ;>8:C8>6 HE6UDA6 A SM>ID 9: ADH B:C 8>DC69DH +GDN:8IDH IJKD :M8:A:CI:H G:HJAI69DH N6 FJ: :A E:GHDC6A >CKDAJ8G69D EG:H:CIV B6<C>;>86H >9:6H N 9: ID96H A6H :MEJ:HI6H IG:H G:HJA I6GDC EG:B>696H :C HJ EG>B:G H:<JC 9D N I:G8:G AJ<6G DC :HI6 B:8QC>86 ;JC8>DC6 CJ:HIG6 $CHI>IJ8>VC EDGFJ: 8DBD :C :A ?J:<D 9: A6 E:G>CDA6 /* *. +*) ) '6 EG:B>68>VC H: AA:KV 6 867D :A

B>SG8DA:H 9: H:EI>:B7G: 6 A6H

=DG6H :C :A H6AVC 9: 68IDH 9: A6 0C>969 +67AD T:O :A .G 6C>:A .JQG:O EG:H>9:CI: 9: A6 $CHI>IJ8>VC N A6 EG:H:C8>6 9: ADH 8DC8JGH6CI:H N 9>G:8IDG:H 9:A B:C8>DC69D :E6G I6B:CID

DBD >C8:CI>KD 7>:C 867: :C :HI6 CDI6 JC 7G:K: E6H6?: 9: '6 DG6 8>VC 9: A6 G6C6 C 8>:GI6 D86H>VC ADH 9>K:GHDH B>:B7GDH N VG<6CDH 9:A 8J:GED :HI676C BJN :C;6969DH 8DC :A :HIVB6<D .: FJ:?676C 9: FJ: :AADH I:CT6C FJ: 7JH86G :A 6A>B:CID N 9QGH:AD 6A :HIVB6<D B>:CIG6H FJ: SHI: CD =68T6 C696 BQH FJ: 9:KD G6G :A ;GJID 9:A IG676?D 9: ID9DH

: BD9D FJ: 9:8>9>:GDC CD 96G A: BQH 6A>B:CIDH 6A :HIVB6<D '6H B6CDH 9:?6GDC 9: AA:K6GAD 6 A6 7D86 ADH 9>:CI:H 9:?6GDC 9: B6HI>86G N A6 <6G<6CI6 9:?V 9: IG6<6G +:CH676C FJ: 8DC :AAD D7A><6GT6C 6A :HIVB6<D 6 :HE67>A6G

+:GD AD WC>8D FJ: 8DCH><J>:GDC ;J: 9:7>A>I6G :A 68J:GED =6HI6 :A EJCID 9: FJ: ID9DH :AADH H: K>:GDC :C JC 6JISCI>8D E:A><GD 9: BJ:GI: : :HI: BD9D ;J:GDC :AADH :C 9:;>C>I>K6 ADH FJ: 6EG:C9>:GDC A6 A:88>VC 9: FJ: 6A 6NJ96GH: JCDH 6 DIGDH :C G:6A>969 IG6 76?676C EDG HJ EGDE>D 7>:C:HI6G

&* (

QUE NO SE NOS OLVIDE LA HISTORIA

'6 .D8>:969 HE6UDA6 9: :C:;>8:C8>6 K6 6 I:C:G JC >C<G:HD 9: K:G96 9:G6 8DCH>9:G68>VC 8J6C9D A6 %JCI6 HE6UDA6 9: DK69DC<6 EG:H>9>96 6=DG6 EDG C9GSH !:GCQC9:O =68: :CIG:<6 9:

: >C9J96 7A:B:CI: ;J: :A 6UD :C FJ: A6 8DA:8I6 G:HJAIV B6NDG EJ:H >C9:E:C9>:CI: B:CI: 9: I6A 86CI>969 FJ: :CIG:<V :A /:HDG:GD CIDC>D /DG>:AAD A6 %JCI6 EGD767A:B:CI: 8DC :A 9:H:D 9: 86EI6G H>BE6IT6H N 67G>G :A 86B>CD 6 B:?D G:H SM>IDH ;JIJGDH ID96KT6 9:9>8V

E6G6 G:E6GI>G 6 JCDH 6GI>HI6H :HE6UDA:H N :CIG:<V DIGDH

6A "D7>:GCD B:M>86CD E6G6 FJ: :CK>6G6 :HIJ9>6CI:H B:M>86CDH 6 :HIJ9>6G :C HE6U6

'6 .D8>:969 HE6UDA6 9: :C:;>8:C8>6 :C H:H>VC 9:A 9: :C:GD 9: =67T6 G:=JH69D =68:G 6FJ:AA6 G:E6IG>68>VC E:9>96 EDG 6A9DB:GD (:CSC9:O 8:76A :C K>HI6 9: FJ: AD C:8:H6G>D E6G6 :H6 G:E6IG>68>VC >BEDGI6GT6 8J6C9D B:CDH 9>:O B>A E:HDH FJ: :HI6C9D ADH ;DC9DH 9: CJ:HIG6 :C:;>8:C8>6 9:HI>C69DH 6 H6I>H;68:G C:8:H>969:H BQH >C9>HE:CH67A:H FJ: A6H >C9>8696H CD EJ:9:C 9:HI>C6GH: 6 SHI6H EDG AD 8J6A 67G>V JC6 HJH8G>E 8>VC :CI:G6B:CI: E:GHDC6A 8JND BDCID :M8:9>V 9: IG:H B>A E:HDH N 8>IV 6 JC6 ?JCI6 E6G6 FJ: ADH :CIGDH :HE6UDA:H 6NJ96G6C EDG HJ E6GI: B6H 8A6GD :HIQ FJ: 68:EIV AD =:8=D EDG A6 %JCI6 9: DK69DC<6 N 8DC 6EA6JHD ADH

FJ: H: A: 9>:GDC 8DC A6 EDH>7>A>969 9: FJ: :C 6A<D 6JB:C I6GQ I6A HJB6 EJ:H A6 %JCI6 9: DK69DC<6 H: G:H:GKV ID96KT6

E6G6 E6<6G 8J:CI6H E:C9>:CI:H 'DH

9: A6 G:E6IG>68>VC A6 .D8>:969 ADH 8DCH>9:GV 8DBD H6A>9DH 9: HJH 6G86H

?JO<6G EDG A6 B:BDG>6 8DGG:HEDC9>:CI: 6 ADH 6UDH DIGDH

BQH :CIG:<V A6 %JCI6 9: DK69DC<6 EJ:H :C :AA6 H: 9>8: H E:8>6A B:C8>VC 9:7:BDH =68:G 9: A6 A67DG 9:H6GGDAA696 EDG A6 %JCI6 HE6 UDA6 9: DK69DC<6 6 ;6KDG 9: CJ:HIG6 .D8>:969 6HT 8DBD 9: A6 86CI>969 9:

FJ: :C :A 8JGHD 9:A EG:H:CI: 6UD CDH :CIG:<V 9: ADH EGD 9J8IDH FJ: D7IJKD 8DC BDI>KD 9: A6H ;>:HI6H DG<6C>O696H :C

0C KDID :HE:8>6A 9: 6<G69:8>B>:CID :HI>B6BDH FJ: 9:7: DIDG<6G :HI6 .D8>:969 6 A6H 9>HI>CI6H %JCI6H 9: DK69DC<6 AD B>HBD FJ: E6GI>8JA6GB:CI: 6 8696 JCD 9: ADH H:UDG:H FJ: A6H =6C >CI:<G69D EDG :A :CIJH>6HBD N 9>A><:C8>6 FJ: =6C 9:HEA:<69D :C HJH A67DG:H :C EGDK:8=D 9: :HI6 :C:;>8:C8>6 N E6G6 A6 B:?DG 8DCH:8J8>VC 9: ADH 6C=:ADH 9: ;ADG:8>B>:CID 9: :AA6 FJ: 67G><6BDH ID9DH ADH HD8>DH^ C :A 68I6 FJ: :C E6GI: H: =6 8>I69D 6GG>76 N FJ: 8DGG:HEDC9: 6A EG>B: GD 9: B6ND 9: I6CID :A .G .6CH6CD 8DBD :A .G DC:?DH N :A .G

'A6CDH =>8>:GDC G:86:G :A SM>ID 9: :H6 8DA:8I6 :C :A +G:H>9:CI: 9: A6 %JCI6 HE6UDA6 9: DK69DC<6 C9GSH !:GCQC9:O 8DBD N6 H: 9>?D

+DG HJ E6GI: .6CI>6<D "6A6H ID96KT6 :CIG:<V 8DBD H6A9D 9:;>C>I>KD 9: A6 8DA:8I6 EG:H>9>96 EDG SA

(6ADH K>:CIDH H>C :B76G<D HDEA6GDC E6G6 A6 %JCI6 9: DK69DC<6 :C :A 6UD H><J>:CI: EJ:H =J7D JC6 H:G>: 9: 6I6FJ:H EDG A6 EG:CH6 FJ: 68676 GDC EDG BDK:G 6 C9GSH !:GCQC9:O FJ: =67T6 H>9D G::A:8ID +G:H>9:CI: 6A G:CJC8>6G :A 86G<D CD H>C :CIG:<6G

FJ: >C9>8V :G6 HJ 8DDE: G68>VC E:GHDC6A E6G6 A6H D7G6H 9:A .6C6IDG>D '6 %JCI6 EGDI:HIV EDG ADH 6I6FJ:H N AD CDB7GV HD8>D 7>:C=:8=DG 9: A6 .D8>:969 HE6UDA6 9: :C: ;>8:C8>6 6JCFJ: ID96KT6 :HID ;J: D7?:ID 9: 6<G>6H 9>H8JH>DC:H :C A6 6H6B 7A:6 <:C:G6A 9: 9: 9>8>:B7G: 9: :C :A 8J6A 6E6G:8: FJ: ADH EGD 9J8IDH 9: A6 %JCI6 9: DK69DC<6 :C :H: 6UD 76?6GDC 6

&* (

: 96? >2062:@2? .I;? >2 06/H 88.9.1.? 12 .964;? D A:; =A2 ;@>; =A2>61; 2:2964; D 0;9; ?6 ?2 5A/62?2: <A2?@; 12 .0A2> 1; 92 12?2.>;: 8; 927;> 128 9A:1; ?H 328606@.1; 92 <A?2 .

0;:?612>.> =AG <A212 ?2> 8; 927;> 12 9A:1; D 2:@;:02? 3A2 >;: .<.>2062:1; .:@2 96 9A05.?

0;?.? =A2 <;1>H.: @2:2> 0.@24; >H. 0;9; <.>. ?2> 8.? 927;>2? 12 2?@2 <;/>2 <8.:2@. <;>=A2 2: 96 B61. 52 B6?@; 0;9; 167; A: <;2 @. @>;:;? B;80.1;?

6:?@6@A06;:2?

0.H1.?

D @>.? >206.? ?.0A161.?

<A2/8;? D >2D2? 0.:?.1;? 8. >; ?2 92 ;0A>>6J =A2 ?2>H. /A2 :; @2:2> A: 0;052 K8@69; 9;12 8; <2:?.:1; =A2 ?2>H. 8; 927;> <2>; 8A24; >20;>1G =A2 5.D =A62 :2? @62:2: A: 52860J<@2>; <.>.

1.>?2 A:.? BA28@206@.? ?;/>2 28 B62:1; 05692:2.? .E;@2.?

0;: 05;E.? 42:@2 <A8A8.:1; >;<. @2:161.P D 12?0A/>H =A2 28 52860J<@2>; :; 2>. 8; 927;> <A2?

92 B6:; . 8. 929;>6. =A2 28 ?2 I;> 12 2:3>2:@2 @62:2 A: .B6J: D 2: G8 BA28. <;> @;1;? 8;? 0628;?

128 9A:1; &A2? :; @.9<;0; 2?; 2>. 8; 927;> 5.D =A62: @62 :2 A: 69<>2?6;:.:@2 D.@2 .:08.

1; 2: 0.<A80; D D. 0;:;02 @; 1;? 8;? <A2>@;? =A2 @62:2 @;1;?

8;? 9.>2? )6: 29/.>4; ?24AH /A?0.:1; 0;?.? 927;>2? NB2?@6> 8;? /A2:H ?69;? @>.72? 0;:32006;:.1;? <;> 28 927;> ?.?@>2 12 8. 0A.1>. 8A06> 0.>H?69.? 0;>/.@.? 0;: 16?2I;? =A2 <>;1A02: 56<; 882B.> A: >28;7 12 <A8?; 128 @.9.I; 12 A:. ;88.

2C<>2?? .?6?@6> . 2824.:@2? >2? @.A>.:@2? 12 8;? =A2 <;> ?J8; 2: @>.> 5.D =A2 <.4.> 12>205; 12 2:@>.1. D 8A24; 12>205; 12 92?. @.9/6G: 12 <.4; O08.>; 0;92> 8;? 9F? 2C=A6?6@;? 9.:7. >2? ?;<2? 12 <.@. 6:08A61;? D .@.?0.>?2 0;9; :; ?2 .@.?0J ).: 05; &.:E. 2: 8.? ;1.? 12 .9.05; 2: @.:@; ;: 'A67;@2 .<2:.? <>;/J /;0.1; <;>=A2 <.>. 0.1. A:; .=A288; 2>. 8; 92 7;> 128 9A:1; . ?A 9;1; 12 B2> *;@.8 =A2 . 36: 12 0A2:@.? <.>. 9H 8; 927;> 128 9A:1; 2? * $ ( +$ + $ #+ (* O " % #

.J8:9>V :C N H><J>V E6H6C 9D A .G DH6A 9>8: FJ: :C K>GIJ9 9: A6 >CHJ7DG9>C68>VC 9: ADH ?J7>A6 9DH N 8>I6 ADH CDB7G: 9: IG:H ADH =67T6 AA6B69D 6A DG9:C HD E:C6 9: H:G :MEJAH69DH H> G:>C8>9T6C N =6 7>:C9D G:>C8>9>9D ;6AI6C 6 A6 ## %DH:;>C6H 6 ADH BDODH N =6HI6 I>GQC 9DH: 8DC ADH EA6IDH ADH =67T6 :MEJA H69D 9:A H>AD H> 7>:C :A WAI>BD I: B>:C9D :A 86HI><D H: =67T6 ;>C<>9D :C;:GBD B:I>SC9DH: :C A6 86B6 EDG AD FJ: H: >C9>8V 6A BS9>8D G:H

E:8I>KD FJ: AD EJH>:G6 6 9>:I6 E6G6 :MEJAH6GA: 9:HEJSH AD 8J6A ;J: 6EGD 769D \)D :H 9: K:G7:C6 J:HI>VC 9: ITIJADH DC C9GSH !:GCQC9:O :G6 ID9D JC E:GHDC6?: :C A6 DADC>6 HE6UDA6 !J: +G:H>9:C I: 9: A6 %JCI6 HE6UDA6 9: DK69DC<6 N :G6 BJN 8DCH>9:G69D N 7>:C K>HID :C :A BJC9D 9:A 8DB:G 8>D N 9: A6 >C9JHIG>6 N 8A6GD I6B7>SC :C AD HD8>6A +DG :H6H N DIG6H G6OD C:H G:8>7>V :A IG6I6B>:CID 9: M8: A:CITH>BD EJ:H =67T6 H>9D 8DC9:

70:7=B31/ 23 : A1=@7/:

M>HI:C :C :A BJC9D 7>7A>DI:86H 6 8J6A BQH >BEDGI6CI: H>C 8DCI6G 9:H9: AJ:<D A6 9: 16I>86CD N DIG6H 6 A6 B>HB6 6AIJG6 '6 9: A H8DG>6A 8J:CI6 8DC K:G969:G6H ?DN6H CD HVAD EDG AD FJ: 6 A6 A>I:G6IJG6 H: G:;>:G: H>CD I6B7>SC EDG HJH K6A>DHTH>B6H :C8J69:GC68>DC:H !:A>E: $$ I:CT6 :C A6 HJN6 >BEDGI6CI:H 8V9>8:H B>HBDH FJ: 8:9>V 6 A6 7>7A>DI:86 9: HJ H8DG>6A 8DC AD FJ: :HI: BDC6HI:G>D 9: G:CDB7G: BJC9>6A 69FJ>G>V G> FJ:O6 : >BEDGI6C8>6 A G:N :HIJKD H>:BEG: E:C9>:CI: 9: A6 69FJ>H>8>VC 9: DIG6H 7>7A>DI:86H CD HVAD 9: HE6U6 H>CD I6B7>SC 9:A :MIG6C?:GD

*8JE6 JC6 C6K: 9: B:IGDH 9: A6G<6 EDG 9: 6C8=6 N B:IGDH 9: 6AIJG6 N H: 8DCH>9:G6 FJ: 8J:CI6 8DC BQH 9: 8J6G:CI6 B>A KDAWB:C:H

4 CD HVAD I>:C: K6ADG 8DBD 7>7A>DI:86 H>CD I6B7>SC BJ8=D 9: BJ H:D 9: 6GI: E>8IVG>8D N6 FJ: :C :A A6G<D I:8=D H: EJ:9:C 69B>G6G 7:AATH> B6H E>CIJG6H FJ: G:EGD9J8:C A6H H>:I: 6GI:H A>7:G6A:H A6 -:IVG>86 A6 >6AS8I>86 A6 (WH>86 A6 "G6BQI>86 A6 G>IBSI>86 A6 ":DB:IGT6 N A6 H IGDAD<T6 #6N I6B7>SC 8J69GDH 9: 1:AQOFJ:O 9: +:AA:<G>CD />76A9> N BJ8=DH BQH 9: ADH <G6C9:H 6GI>HI6H 9: A6 SED86 .> JHI:9 K>6?6 6 HE6 U6 CD H: E>:G96 JC6 K>H>I6 6 :HI: >BEDC:CI: BDC6HI:G>D

% #

8DG69D EDG A6 G:>C6 (6GT6 G>HI>C6 B69G: 9: A;DCHD 3$$$ AD FJ: BDA:H IV BJ8=D 6 6A9DB:GD (:CSC9:O 9: 8:76A B>:B7GD 9: A6 >G:8I>K6 N :CIG: DIG6H 8DH6H :A:<69D 9: A6 GJO -D?6 HE6UDA6 EJ:H SHI: :C K>V JC6 86GI6 6 A6 :C:;>8:C8>6 :C A6 FJ: AA6B676 A6 6I:C8>VC HD7G: :A IG6 I6B>:CID FJ: H: A: 9676 6A B:C8>D C69D .G !:GCQC9:O 8J6C9D CD :H BQH FJ: >AJHIGTH>BD A6GD H: A: 8DCI:HI6 9>8>SC9DA: FJ: H> H: A: =6 969D :H: IG6I6B>:CID :H EDGFJ: :C A6 .:8G:I6GT6 9: A6 .D8>:969 8DCHI6 =67:GA: IG6I69D 6HT 6A<JCDH 9: ADH :CIGDH HE6UDA:H E:GD 8DBD :HI6 >G:8I>K6 >C8AJHD :A HJH8G>ID CD :HIQ BJN ;J:GI: :C =:GQA9>86 C> I>: C: I>:BED E6G6 HJ 6EG:C9>O6?: HVAD H: A: 96GQ :C AD HJ8:H>KD :A IG6I6 B>:CID 8DBWC 6 ID9DH A6H E:GHDC6H 6 CD H:G FJ: 8DCHI: 8DC ID96 :K> 9:C8>6 :A IG6I6B>:CID :HE:8>6A

]+J:H HT FJ: :G6C FJ>HFJ>AADHDH C K6G>6H 68I6H K:C>BDH K>:C9D A6 HDA>8>IJ9 9: JC H:UDG FJ: FJ>:G: 6I:C8>VC E6G6 HJ =>?D FJ: CD :H HD 8>D CKT6 86GI6 IG6H 86GI6 >CH>HI>:C9D :C AD B>HBD C JC6 H:H>VC 9: 6FJ:A A::BDH .DA>8>IJ9 9: A;DCHD .QC8=:O 9: A6 FJ: N6 H: IG6IV :C A6 H:H>VC 6CI:G>DG N HD7G: A6 FJ: :H 9: E6G:8:G A6 DB>H>VC 9:A H>AD FJ: CD 9:7:C 8DC8:9SGH:A: A6H B:9>8>C6H FJ: HDA>8>I6 EDG H:G 9J:UD 9: JC 86 ?VC 9: GDE6 6HT AA6B676C 6 A6H I>:C 96H 9: I:A6H N 8DC;:88>DC:H N6 FJ: A6 B:G86C8T6 >BEDGI696 9: HE6U6 AA:<696 :C 86?DC:H 9: B69:G6 8DC ADH FJ: H: ;67G>8676C ADH EJ:HIDH 9: B69:G6 E6G6 :HI67A:8:GH: :C A6H 76C FJ:I6H N 69:BQH EDG CD =67:G H>9D G:8:I696H A6H B:9>8>C6H FJ: HDA>8>I6 EDG ADH BS9>8DH 9: CJ:HIG6 6H6 9: .6AJ9 6H> 6H:<JG6BDH FJ: :A H: UDG H><J>V >CH>HI>:C9D

4 6=DG6 AD FJ: H><J: 6GI6 9:

%DHS +DH696H 8JU69D N ;>69DG 9:A :C;:GBD "VB:O *?:96 :C A6 FJ: :M EDC: FJ: CD H: A: 8DC8:96 E6H6?: 9: G:E6IG>68>VC 6 SHI: .: 68DG9V 8DCI:H I6GA: FJ: CD :H 9: 688:9:GH: 6 AD FJ: HDA>8>I6 I6CID EDG 9:7:G 8DBD ;>69DG BQH 9: B>A E:HDH 9: :HI6C8>6H 86J H696H EDG :A :C;:GBD 8DBD EDG I: C:G 9:J9DH :C HE6U6 :C 7J:C6 ED H>8>VC FJ: :HIQC BQH D7A><69DH FJ: CJ:HIG6 :C:;>8:C8>6 6 6I:C9:GA:

] : I>G6 8VB>86 \CD &* (

/A/ 2=<23 </17O 3<7B= CK@3H

/@@C/83 1=< 3: ?C3 @31=@@7O 3: >/MA

$;? ;0A<.>29;? 12 9;92:@; 12 0A.@>; #;6?G? >6?@; .:156 D !AF>2E #;6?G? :.06J 2: A:. <2=A2I. <;/8.06J: 246<06. .

8.? ;>688.? 128 $68; 8;? <;0;? 1H.? 12 ?A :.06962:@; 28 3.>.J: <>;9A84J A:. 82D 2C6462:1; =A2 @;1;? 8;? >206G: :.061;? 3A2>.: .>>;7.1;? .8 $68; 8 >2?@; 12 8. 56?@;>6.

D. 8. 0;:;02 A?@21 )A 9A2>@2 8. 2:0;:@>J 2: 28 #;:@2 )6:.H 96>.:1; . 8. *62>>. &>;92@61. 12?<AG? 12 5./2> ;/@2:61; 8.? *./8.? 12 8. 82D >6?@; :.06J 2: A: 2?@./8; D 9A>6J 0>A06360.1; )A #A2>@2 ?64A2 B6B. 2: @;1.? 8.? 6482?6.? 0>6?@6.:.? 128

9A:1; .:156 :.06J 2: A: >29;@; 8A4.> 12 8. :16. D 9A>6J .?2?6:.1; 2: <;> A: 3.:F@60; D 28 9A:1; ?2 882:J 12 ?A :;9/>2 2: 0.882? <8.E.? 9;:A92:@;?P 2:6@; !AF>2E B6:; .8 9A:1; 2: A: <2=A2I; <;/8.1; 128 ?@.1; 12 %.C.0. 88.9.1; A28.@.; )A 0.?. D ?A 0A:. 2>.: 8. 5A9681.1 96?9. #A>6J 2: A: 4>.: <.8.06; D 2: 28 <.:@2J: 12 ).: 2>:.:1; >2<;?.: ?A? >2?@;? 2: A: 9;:A92:@; 2>6461; 2: 28 9F? <A>; .>@2 08F?60; A2>;: 4>.:12? 5;9/>2? 0;: 4>.:12? 12?@6:;? D >20;>1.1;? <;> 28 9A:1; 2:@2>;

"=7ALA

&* (

"=<C;3<B= A3>C:1@/: 23 3<7B= CK@3H 3@7572= 3< 3: >/<B3O< 23 (/< 3@</<2=

% #

DGISH A6 (6A>C8=: N :GC6A T6O 9:A 6HI>AAD :C 8DCIG6GDC :A =>HIDG>69DG FJ: CD :HE:G676C EDGFJ: A:H AA:<V %J6C (>G6AA:H FJ: EJHD 6 8696 JCD :C :A AJ<6G FJ: A6 =>HIDG>6 A:H =67T6 9:H><C69D CD HVAD A6 9: (SM>8D H>CD I6B7>SC A6 9: HE6U6 N 9: G:;>AVC A6 0C>K:GH6A

9:BQH 9: 68J8>DHD >CK:HI><69DG : =>HIDG>69DG I: CT6 :A 9DC 9: H:G JC :M8:A:CI: 8DCK:GH69DG 6GI: 69FJ> G>9D :C HJH BJ8=DH 6UDH :C :A .:GK>8>D MI:G>DG 9:A "D7>:GCD B:M>86CD D8JE6C9D 9>K:GHDH 86G<DH 8DCHJ A6G:H :C BJ8=DH E6TH:H 9: BSG>86 JGDE6 N `;G>86

C A6 FJ: ED9GT6BDH AA6B6G IG>AD<T6 8DGI:H>6C6 DGISH >CK:CIDG 9: (SM>8D A6 (6A>C8=: ^4 :GC6A B>CI>V (>G6AA:H G:K:A6 H:G :A =>HIDG>69DG BQH 9>A><:CI: :A BQH :CI:G69D :C ID9D AD 8DC8:GC>:CI: 6 A6 SED86 8DG I:H6C6

H8G>7>V DIGD A>7GD 9:A I:B6 FJ: K:G969:G6B:CI: 9DB>C676 6 A6 E:G;:88>VC '6H 8>C8D GJI6H 9: DGISH FJ: 9: BDB:CID CD H: :C8J:CIG6 :C C>C<JC6 A>7G:GT6

A .G .6A>C6H +A>:<D AD 69FJ>G>V 8DC ADH G:FJ>H>IDH 8D GG:HEDC9>:CI:H E6G6 HJ :BEG:H6 8DC :A ;>C 9: D7H: FJ>6GAD 6 HJH BJ8=6H 6B>HI69:H N I6B7>SC E6G6 8JB EA>G H>C 9J96 8DC >C:AJ9>7A:H 8DBEGDB>HDH HI: A>7GD ;J: EG:H:CI69D :C :A 6C6A N IJK>BDH :A EA68:G 9: 6H>HI>G G:8>7>:C9D JC :?:BEA6G FJ: BJ8=D K6ADG6BDH

/JK>BDH :A =DCDG 9: 8DCI6G 8DC HJ 6B>HI69 N 8DC SA N DIGDH 9>A:8IDH 6B><DH ;DGB6BDH B:?DG 9:8>G 8DC I>CJ6BDH JC6 E:U6 9: 6B><DH FJ: N6 AA:KQ76BDH 6UDH 9: G:JC>GCDH H>:C9D :A .G (>G6AA:H 9: ADH WAI>BDH :C :CIG6G :C :A <GJED DB>C<D 6 9DB>C<D 9: A6H H:>H

: 67AB=@7/2=@ C/< "7@/::3A

9: A6 I6G9: 6 A6H CJ:K: 9: A6 CD8=: H>C 9>H8JI>G D 9>H8J I>:C9D E6HQ76BDH IG:H =DG6H :C 9:A>8>DH6H EAQI>86H

FJ:AA6 E:U6 FJ: 8DB:COV =6HI6 8DC EDC:CI:H 6A ;>C6A SG6BDH H>:I: +:GD H: CDH ;J: %J6C =68: N6 9DH 6UDH N AD H:<J>BDH :MIG6U6C9D E:GD 8DBD 9>8: %JA>D $<A:H>6H A6 K>96 H><J: ><J6A 'DH FJ: FJ:96BDH CDH H:CI6BDH :C A6 B>HB6 B:H6 6 A6 B>HB6 =DG6 :C A6 B>HB6 H>AA6 K>:C9D A6 B>HB6 <:CI: N SHI6 I6B7>SC H: K6^ ]N A6 K>96 H><J: ><J6A

=@=<3: C>M<

% #

?@2 =A2 B26? .=AH 12 .?<20@; ?6:4A8.> .@.B6.1; 2:@>2 9.>6.056 05. >>; 0.:@;> D <2>?;:.72 12 ;<2>2@. 2? 28 0;>;:28 3>.:0G? .>8;? A<H: =A2 12?<AG? 12 ?2> B2>4;:E;?.92:@2 124>.1.1; <;> 0;?6@.? 9.8.? 0;92@6 1.? 2: >.:06. B6:; . #GC60; . B2> ?6 .=AH ?H 8. 5.0H. OD 8. 56E; <;>=A2 0;: A: 4>A<; 12 28292:@;? 3>.:02?2? ?A.B;? ?A6E; D ;@>;? <F7.>;? 12 0A2:@. ;>4.:6EJ 2: A:.? 0;:@>.4A2>>688.? 0;: 8.? =A2 0;9/.@6J 2: 8.

A.?@20. D ;@>.? <.>@2? 128 <.H? 0;:@>. 8.? 4A2>>688.? 2:0./2E.1.? <;> 2?612>6; &.BJ: #.:A28 .?.1;? !AF>2E >.:06?0; #.?0.>2I.? &21>; !;?G #G:12E D ;@>;? 9686@.>2? 92C60.:;? =A2 9.:@2:H.: 2: 7.=A2 . 8.?

3A2>E.? 3>.:02?.? 2: 8;? ?@.1;? 12 ,2>.0>AE *.9.A86<.? D ).: "AH? &;@;?H "; 0.@.8;4.>;: 0;9; 5;9/>2 0>A28 D ?.:4A6:.>6; BG.82 8;? ;7;? )A 0;:1A0@. 2>. >2.892:@2 ;16;?. >2<A4:.:@2 >2<A8?6B. D >2<282:@2 .8 1206> 12 8.? <F46:.? >;7.? 12 8;? 16.>6;? D <;> ?2> .?H 12 9.8;>. #.C69686.:; 9AD 16<8;9F@60; G8 82 <616J 9F? /62: 82 ;>12:J =A2 >24>2 ?.>. . >.:06. 2?@./.: 2:@;:02? 2: 28 ;@;I; 12 - ?H B;8B6J <.>. >.:06. <2>; 8; =A2 56E; 3A2 <216> .A162:06. . $.<;82J: D =A6G: ?./2 =A2 5./8.>;: <2>; 28 0.?; 2? =A2 >24>2?J . #GC60; 8; =A2 9;@6BJ A: ?2>6; 16?@.:06.962:@; 2:@>2 1;: $.<; D 1;: #.C D ?A .>8;@. &* (

+J:H B>G: JHI:9 :HD 9: A6H EGD I:HI6H K>:C: 9: BJN A:?DH /6B7>SC :C :A E6H69D =67T6 H:8IDG:H FJ: EGD I:HI676C N CD :G6C IG676?69DG:H C> 9: A6 :9J868>VC C> 9: DIGD D;>8>D 8J6AFJ>:G6 C ];T?:H: JHI:9 8DC BDI>KD 9: A6 :A:88>VC 9:A EGDK>C 8>6A 9: .6C %J6C 9: >DH =J7D 8J:HI>VC :C :A 8DCK:CID A6 8GVC>86 CD 9>8: ATD H>CD 8J:HI>VC +DG JC 86HD ><J6A : >9SCI>8D G:HJAI69D N :C :A B>HBD 6UD HJ8:9>V :C :A 8DCK:C ID 9: A6 (:G8:9 /6B7>SC H: IG6I676 9: :A:<>G 6A EGDK>C8>6A :C IJGCD N N6 H67: JHI:9 AD FJ: HJ8:9: 8J6C9D =6N FJ: :A:<>G 6A FJ: =6 9: B6C96G

696 86C9>96ID 8DCI676 8DC HJ 86G<696 N 8DBD CD :M>HIT6 :HD 9:A $! EJ:H :A :H8QC96AD :G6 :CIG: =Q7>IDH N HDI6C6H N :H8:C>;>86GDC HJ BJN E6GI>8JA6G EA6CIVC 9:CIGD 9: ADH G:HE:8I>KDH 8DCK:CIDH HDH HJ8: HDH 6C>B6GDC EDG A6H B>HB6H 86J H6H 6 EA6CI6GH: ADH 6<JHI>CDH 4 AD 8JG>DHD ;J: FJ: ID9DH EGDI:HI6GDC EDG

5:3A7/A 23 :/ (/<B/ +3@/1@CH G :/ 23 (/< C/< 23 7=A

A6 B>HB6 86JH6 N :C :A B>HBD 6UD

4 8J:CI6 JC6 8GVC>86 6A G:HE:8ID :C B6GOD =J7D GJ>9D :C :A 8DCK:CID 9: .6C %J6C 9: >DH EDG

\-:8J:G96 JHI:9 8J6C9D 6A ISGB>CD 9: A6 $$ "J:GG6 :HI6AAV :A 6;QC 9: ADH K>6?:H 6 JGDE6 N FJ: 6A G:<G:HD :A K>6?:GD :H8G>7T6 JC A>7GD 8DC HJH >BEG:H>DC:H I:G B>C6C9D K:C9>9D 6A @>AD :C A6 '6<JC>AA6 'A:<JS 6 ?JC I6G 86H> JC6 9D8:C6 9: :AADH :H8G>IDH EDG 6B><DH FJ: =67T6C K>6?69D EDG A6 9:HI6GI6A696 JGDE6 A WC>8D E6TH FJ: B:9>6C6B:CI: AD :HI676 E6H6C9D JC ED8D B:?DG :G6 HE6U6 ,J>:C:H K>6?676C 6 A6 ID96KT6 AA6B696 (6 9G: +6IG>6 AD =68T6C :C 6K>VC A6H >CDAK>967A:H :GDKT6H "J:HI +GDKD8676C JC G:KJ:AD 9: 6HDB7GD :CIG: ADH ;6B>A>6G:H N 6B>HI69:H \46 H67:H FJ: ADH <J69D H: K6C 6 HE6U6 N :A FJ: G:8>7T6 A6 7J:C6 CJ:K6 67GT6 ADH D?DH 8DBD 6AB:?6H 6A 8DCI68ID 9:A 6<J6 86A>:CI: N :M8A6B676 6HDB7G69D \)D B: 9><6H 4 ID96 A6 DAD C>6 HE6UDA6 H: :CI:G676 FJ: ADH <J69D ADH .:86 9DH ADH .6CI>EDC8: ADH =JGGJ8DH N 9:BQH 6E:AA> 9DH 8DCD8>9DH EDGFJ: AD =67T6 A:T9D :C A6 8DAJBC6 9: HD8>6A:H 9: )DK:969:H M8SAH>DG D 0C>K:GH6A ADH IG:H FJ: I:CT6C :H: I>ED 9: >C;DGB68>VC 6A B>HBD I>:BED FJ: H: :CI:G676C FJ: A6 ):C6 (:C9>DA:I6 =67T6 H>9D DE:G696 9: 6ESC9>8: :C :A #DHE>I6A HE6UDA EDG :A G

(6IJI: :A 8>GJ?6CD FJ: BQH 6ESC9>8:H ;:B:C>C6H IJKD :A =DCDG 9: :MIG6:G 6 ADH 8DBEDC:CI:H 9: A6 DADC>6 HE6UDA6

CIDC8:H K:CT6C A6H D7A><696H 9:HE:9>96H !6B> A>6G:H N 6B><DH DG<6C>O676C JC6 9>K:GI>96 E68=6C<6 :C JC G:HI6JG6CI: D :C :A ;GDCIVC 9: A6 G:H>9:C8>6 8JND :HE68>D 6867676 H>:C9D <6AA>C:GD EDGFJ: C69>: 9: A6 &* (

FJ: 6A<JCDH G:A><>DHDH 6EDGG:6GDC 6A EG:H>9:CI: 9: HJ G:A><>VC :C8:GG6GDC 6A 8DB>H6G>D N .

IJKD FJ: :CK>6G 6A EGDK>HDG 6 6E68><J6G :A GJ>9D

;6B>A>6 ?J<676 ;GDCIVC .: 7G>C9676 EDG ADH K>6?:GDH 8DC :A B>HBD :CIJH>6HBD FJ: H> :A K>6?: ;J:H: 6 A6 'JC6 D 6 %WE>I:G C :A 6:GDEJ:GID 9: (SM>8D :CIDC8:H A6 B>I69 9: A6 B>I69 9: AD FJ: :H =DN H: :H8:C>;>8676 ID9D JC :HE:8IQ8JAD 8696 ;6B>A>6 FJ: E6GIT6 >76C EDG AD B: CDH E:GHDC6H 6 9:HE:9>GA6 N ADH E6H>AADH EG:H:CI6 76C 6HE:8IDH 9: B6C>;:HI68>VC B6<>HI:G>6A '6H H: UDG6H AJ8T6C 8DBD BD9:ADH 9: HI:76C (6ND HDB7G: GD 6AJ8>C6CI: ?DN6H 8DA<6C9D EDG ID96H A6H E6GI:H 8DA<67A:H :C I6CID A6H C>U6H N6 86H69:G6H 86H> ID96H :HI676C BDCTH>B6H 6I6K>696H 8DBD E6G6 6H>H I>G 6 A6 VE:G6 :C :A DCK:CI "6G9:C 9: 'DC9G:H 'DH H:UDG:H^ 7J:CD :G6C ;><JG>C:H 9:A 86IQAD<D FJ: :A H6HIG: 69FJ>GT6 E6G6 :HI6G 6A 9T6 :C A6 BD96

] = N :A :FJ>E6?: G6 C:8:H6G>D AA:K6G BJ8=6 GDE6 EJ:H A6 :HI6C8>6 H:GT6 EDG JC B:H BTC>BD 6E6GI: 9: FJ: H: 8DCI676 8DC 6IDCI6G 6 ADH ;6B>A>6G:H N K:8>CDH 9:A EJ:7AD A<JCDH K>6?:GDH :CK>676C HJ 86GGD EDG 76G8D N I:CT6 FJ: H:G A6G<D CJ:KD N 9: H:G EDH>7A: Q9>AA68 :A ED7G: 86GGD I:GB>CV H>:C9D A6 G:;:G:C8>6 9:A CJ:KD G>8D N AA6BQC9DH: #6><6

+:GD H> A6 E6GI>96 8DCHI>IJT6 JC6 :H8:C6 9: 6AI6 8DB: 9>6 8DC 9D8:C6H 9: E:GHDC6H :C 8DB>IS 9: 9:HE:9>96 :A G:IDGCD 69FJ>GT6 8DADG:H 9: 8DB:9>6 BJH>86A B6G>68=>H >C8AJ>9DH '6H H:UDG6H 8DC CJ:KD HDB7G:GD CJ:KD K:H I>9D A6H C>U6H AJ8>:C9D ;6A96 9: I:G<6A EA>H696 :C 9>7J?DH :H8D8:H:H N ID9DH E6EQ B6BQ N C:C6H 76?6C9D 9:A 6K>VC 8DC 7DAH6H 9:A DGI: $C<ASH 1>KT BJ8=DH 9: :HDH BDB:CIDH CD 8DBD K>6?:GD EJ:H :A HJ:A9D 9: :CIDC8:H CD 6A86O676 C> E6G6 >G 6 3D8=>B>A8D

% #

DC 9:8>G A6 :BE:G6IG>O 76HI6 E6G6 H67:G FJ: H: IG6I6 9: 6GADI6

.J K>96 :C (SM>8D ;J: BJN 9>;JC9> 96 N H><J:C H6A>:C9D =>HIDG>6H 9: HJ E6HD EDG :A 6HI>AAD 9: =6EJAI:E:8

HJH E6H:DH EDG A6 8>J969 HJH G:8:E 8>DC:H 8DC I>CI:H 9: DE:G:I6 E:GD ED8D H: 8J:CI6 9: 8J6C9D H: 8J:CI6 FJ: ;JC9V JC6 B6I:GC>969 8DC ID9DH ADH 69:A6CIDH 9: HJ SED

!/ 3;>3@/B@7H /@:=B/

: +=:9AE/53< 23 "/F G AC /@:=B/

]+DG ;6KDG 8DCH:GK6G A6 G ] DC :HI6 E6A67G6 FJ: 8DBD 86H> ID96H A6H 9: CJ:HIG6 A:C<J6 EGDK>:C:C 9:A A6ITC EG6:ARJH EJ:HID 9:A6CI: 9:H><C6 A6 $<A:H>6 HJH 9><C>969:H 676I:H D7>HEDH 6GOD7>HEDH C :A H><AD 31 H><AD 9: %DG<: (6CG>FJ: :HI: KD867AD H: :H8G>7T6 E:GA69D 9:7>9D 6 FJ: ADH GDE6?:H FJ: JH6 76C 6FJ:AADH 9><C6I6G>DH I:CT6C 7DG 969DH 9: E:GA6H '6 H:BQCI>86 A6 9:?V :C EG:A69D 6HI6 A::G A6H B6G6K>AADH6H 8DEA6H 6 A6 BJ:GI: 9: B> E69G: :A B6:HIG: 9: .6CI>6<D E69G: 9:A ED:I6 : ID96H A6H 8D EA6H HVAD IG:H HDC G:8DG9696H EDG :H8G>IDG:H CDK:A>HI6H N 6;>8>DC69DH 6 A6 ED:HT6 86HI:AA6C6 $ -:8J:G 9: :A 6AB6 9DGB>96 6K>K: :A H:DH N 9:HE>:GI: 8DCI:BEA6C9D 8VBD H: E6H6 A6 K>96 8VBD H: AA:<6 A6 BJ:G % #

I: I6C 86AA6C9D 8JQC EGDCID H: K6 :A EA68:G 8VBD 9:HEJSH 9: 68DG 969D 96 9DADG 8VBD 6 CJ:HIGD E6G:8:G 8J6AFJ>:G I>:BED E6H69D ;J: B:?DG

$$$ )J:HIG6H K>96H HDC ADH GTD FJ: K6 6 96G 6 A6 B6G FJ_:H :A BDG>G 6AAT K6C ADH H:UDGTDH 9:G:8=D 6 H: 68676G : 8DCHJB>G 6AAT ADH GTDH 86J96A:H 6AAT ADH DIGDH B:9>6CDH : BQH 8=>8DH 6AA:<69DH HDC ><J6 A:H ADH FJ: K>K:C EDG HJ B6CD : ADH G>8DH

3$$ HDH G:N:H ED9:GDHDH FJ: K:BDH :C :H8G>EIJG6H N6 E6H696H 8DC 86HDH IG>HI:H AADGDHDH ;J: GDC HJH 7J:C6H K:CIJG6H IG6HIDG C696H 6HT FJ: CD =6N 8DH6 ;J:GI: FJ: 6 +6E6H N BE:G69DG:H :

86 C JCD 9: HJH K>6?:H 6 JGDE6 9:?V H:>H B>A E:HDH E6G6 A6 6I:C8>VC 9: HJ ;JC968>VC (JG>V :C SA<>86 :C 6 ADH 6UDH .> =J7>:G6 FJ: G>9D KDAK:G 6 (SM>8D =67GT6 ED9>9D =68:GAD :C JC :A:<6CI: IG6CH6IAQCI> 8D HJE:G>DG 6A />IQC>8

+:GA69DH 6HT ADH IG6I6 A6 (J:GI: 8DBD 6 ADH ED7G:H E6HIDG:H 9: <6C69DH

=@53 "/<@7?C3

&* (

]16N6 E69G: %68D7D =>?D 9: +:E: ><DI:H FJ: 6HT AA6B676C 6 .I6A>C ADH E:G>D9>HI6H 9: :CIDC8:H ;J: EG>H>DC:GD 9: ADH 6A:B6C:H 9J G6CI: A6 $$ "J:GG6 (JC9>6A 'DH FJ: AD 6EG:=:C9>:GDC 6EG:C9>:GDC FJ: =6N E69G:H JC ED8D 9:HE:<69DC:H 9: HJH G:IDUDH EJ:H 6A 8DBJC>86GH: 8DC E6EQ .I6A>C E6G6 C:<D8>6G HJ A> 7:GI69 SHI: H: C:<V 6 E6<6G G:H86 I: N :A 8=>8D BJG>V :C JC 86BE6 B:CID ]N H67: >DH AD FJ: =67GQ E:CH69D 9: HJ 7><DIJ9D EGD<:C>IDG

'DH :?SG8>IDH DIDB6CDH D H:6 IJG8DH D8JE6GDC "G:8>6 :C N EDG HJEJ:HID ADH <G>:<DH H: ;J:GDC 6A 6I6FJ: 8DCIG6 6FJ:AADH >CIGJHDH FJ: EGDCID H: K>:GDC GD9:69DH :C A6

8DH HT 8J>9676C HJH I:HDGDH 6GITH I>8DH ]16N6 :?:BEAD

4 H:<J>BDH 8DC <J:GG6H #DN :A BJC9D E>9: A6 867:O6 9:A <D7:GC6C I: H>G>D EDGFJ: :HIQ JH6C9D 6GB6H FJTB>86H :C HJ <J:GG6 8DCIG6 HJ EGD E>D EJ:7AD +J:H K:6 9JG6CI: :A H> <AD 3$1 H: :BEA:V JC 6GB6 768I:G>DAV<>86 0C6 E6GI>96 9: IQGI6 GDH 6 AD B:?DG ADH FJ: >CK:CI6GDC A6 H6AH6 IQGI6G6 =67T6C GD9:69D A6 8>J 969 6BJG6AA696 9: %6;;6 :C G>B:6 6A 867D 9: IG:H 6UDH 9: AJ8=6 ADH IQGI6GDH 8DCH><J>:GDC A6 ;>C HJ K>8ID G>6 \N H67: JHI:9 8VBD AD =>8>:GDC EJ:H A6CO6C9D 8DC JC6 86I6EJAI6 6 A6 8>J969 H>I>696 ADH 869QK:G:H 9: HJH EGDE>DH HDA969DH BJ:GIDH EDG

8DA>C6 9DC9: :HIQ A6 ;6BDH6 N ;DID <G6;>696 8GVEDA>H N 6A K:GH: GD9:6 9DH N N6 H>C BJC>8>DC:H 9:8>9>:GDC 676I>G A6H 8DAJBC6H ]I6C :H7:AI6H :AA6H N ;JC9>G ADH IGDODH 9: EADBD FJ: H:GKT6C 9: JC>VC :CIG: A6H E>: 9G6H E6G6 IG6CH;DGB6GA6H :C 76A6H

4 K:6 JHI:9 :A <:HID 9: ADH <G>:<DH 8J6C9D H: :CI:G6GDC 9: AD FJ: ADH IJG8DH FJ:GT6C =68:G 8DC HJ 8GV EDA>H 9:8>9>:GDC H6AK6GA6 6 8J6AFJ>:G EG:8>D :CK>QC9DA:H E6GI: 9: HJH EGD E>6H BJC>8>DC:H 6 ADH 6H:9>69DH IJG

E:HI: 7J7VC>86 N A6 8>J969 :CI:G6 H: 7J7D86C>OV N ID9DH BJG>:GDC EDG A6 E:HI: 9: ADH BJ:GIDH

.> JHI:9 :H <ADIVC 9: K:G969 CD H: A: D8JGG6 K>6?6G 6A >BE:G>D BDC<DA EDGFJ: 6 AD B:?DG H><J:C AA:K6C9D 6 G6?6I67A6 A6 A:N :B>I>96 EDG :A ;6BDHD ":C<>H &6C FJ: :HI>EJA676 FJ: 8J6A FJ>:G E:GHDC6 FJ: H: C:<6G6 6 IG676 ?6G 6JCFJ: ;J:G6 B6:HIGD D FJ: 8D B>:G6 9JA8:H 6 AD 7:HI>6 H:GT6 86HI> <69D 8DC A6 BJ:GI: ] = EJ:H CD

&* (

\ : 9VC9: K>:C: :A D@:N E6A6 7G:?6 BQH 8DBWC FJ: A6 8D8=>C>I6 E>7>A )D :H 86HI:AA6C6 9:H9: AJ: <D E:GD =DN ;DGB6GT6 E6GI: 9:A KD 867JA6G>D 9:A >9 DGG:HEDC9: 6 A6H H><A6H 9: JC6 ;G6H: >C<A:H6 JG6CI: A6 "J:GG6 9: .:8:H>VC 9: ADH HI6 9DH 0C>9DH ADH :?SG8>IDH I:CT6C EDG 8DHIJB7G: :H8G>7>G :C JC6 <G6C E> O6GG6 A6H 76?6H 86JH696H :C A6H 76 I6AA6H J6C9D CD =67T6 C>C<WC BJ:GID :C A6 E>O6GG6 H: ED9T6 A::G *& :H 9:8>G D @>AA:9 D H:6 8:GD BJ:GIDH

] HID HT FJ: :H H:G JC6 B69G: K6A>:CI: 0C6 <6I6 8JN6H 8GT6H :G6C E:GH:<J>96H EDG JC DHD =>OD =J>G 6 SHI: N AD E:GH><J>V =6HI6 FJ: :A 6C> B6A H: IG:EV 6 JC QG7DA

: G6O6 A: K>:C: 6A <6A<D A <6C<HI:G A 6EDC: I:CT6 JC =:GB6 CD FJ: :G6 D;>8>6A 9: EDA>8T6 #DCG6 9D 9JG6CI: A6 B6NDG E6GI: 9: HJ K>96 %6B:H 6EDC: 6867V GD76C9D JCDH 6AB68:C:H 9JG6CI: A6H GDC96H CD8 IJGC6H FJ: G:6A>O676 EDG A6 8>J969

4 .DCCN :A =>?D 9: A 6EDC: IJKD K6G>6H EGD;:H>DC:H HJ8:H>K6H :CIG: :AA6 A6 9: ;ADG>HI6 'D HDGEG:C9>:GDC GD76C9D :C JC 6AB68SC

]0C 7J:C >CK:GH>DC>HI6 'DH EG> B:GDH :HE:8I69DG:H 9:A 8>C: :C #DC< &DC< 8D7G6GDC EDG 6H>HI>G 6A :HE:8IQ8JAD 0C >C<ASH ]I:CT6 FJ: H:G =67T6 67>:GID JC 8>C: 9:HI>C6 9D 6 A6 ED7A68>VC 8=>C6 9: A6 8>J969 E:GD 8DBD ADH =67>I6CI:H :G6C HJ E:GHI>8>DHDH 8G:T6C ;>GB:B:CI: :C :A ED9:G C:;6HID 9: ADH :HETG>IJH BDK:9>ODH :C A6 E6CI6AA6 N EG:;: GT6C CD 8DGG:G :A G>:H<D 9: 6IG6:G HD 7G: HT ADH B6A:;>8>DH N:C9D 6A 8>C:

JG6CI: IG:H H:B6C6H :A EGDE>:I6 G>D 6AFJ>AV 6H>:CIDH EDG 9T6 N E6<V 6 8696 :HE:8I69DG JC6 86CI>969 8DC K:C>96 EG:K>6B:CI: =6HI6 FJ: ADH I:BDG:H HJE:GHI>8>DHDH 9: ADH =67> I6CI:H 9:BDHIG6GDC CD I:C:G ;JC96 B:CID '6 >C>8>6I>K6 9:A EGDE>:I6G>D H: K>D 8DGDC696 EDG :A SM>ID N K6G>DH 6UDH 9:HEJSH :HI676 6 A6 867:O6 9: JC6 869:C6 9: 9>:O 8>C:H

% #

'DH I6GI:H>DH :C 86B7>D 8DCH I>IJN:GDC EGDCID JC H>HI:B6 HD8>6A :HI67>A>O69D EDG 8A6H:H A6 6AI6 ;DG B696 EDG <6C69:GDH I:GG6I:C>:CI:H 8DB:G8>6CI:H N C6K:<6CI:H A6 76?6 8DCHI>IJ>96 EDG :A EJ:7AD 86BE:H>CD N 6A B6G<:C 9: 6B76H CJB:GDHDH :H8A6KDH HI6 ED7A68>VC H: 7:C:;> 8>676 9: A6H :MI:CH6H N ;SGI>A:H K: <6H N EG69:G6H 9: ADH J7SGG>BDH 86BEDH A67G6CITDH G:<69DH EDG :A 76?D "J69>6C6 N EDG :A "J696AFJ>K>G EDH:T6 8:CIGDH 8>J9696CDH 9: 9:H6 GGDAAD EJ:GIDH 7>:C H>IJ69DH 8DC G696H 67G><DH N 68I>KDH 6HI>AA:GDH :MEADI676 A6H B>C6H 9: 8D7G: 9:A 68IJ6A ->DI>CID N A6H 9: EA6I6 N EADBD 9: A6H :HIG>768>DC:H 9: .>:GG6 (DG: C6 D7I:C>:C9D :A DGD 9: ADH GTDH :C EA68:G:H SHIDH HDC 76C8DH 9: 6G: C6 D E>:9G6 :C :A ;DC9D 9:A B6G 6G: C6A 9DC9: A6 8DGG>:CI: 9: A6H 6<J6H 9:EDH>IV E6GIT8JA6H 9: DGD C BS G>86 E:HFJ:GT6 9: E:GDA6H :C A6H 8DHI6H 9:H:CKDAKT6 >C9JHIG>6 E:HFJ:G6 N H6A6ODC:G6 6BEATH>B6 FJ: H: :MI:C9T6 9:H9: A6H 7D86H 9:A "J69>6C6 EDG ID9D :A .JG 9: A6 +: CTCHJA6 N <G6C E6GI: 9:A .JG:HI: :M EDGI676 IG><D K>CDH N 68:>I:H ;6BD

HDH ;67G>8676 N K:C9T6 E6UDH A><: GDH I:?>9DH 8DC A6C6 9: A6H EG>B:G6H N 6EG:8>69TH>B6H B:G>C6H 8DB:G 8>676C 8DC H6A <:B6 H6A 9: GD86 8:G6 B>:A E:O B>C>D DM>9D 9: EAD BD 9: 8DADG GD?>OD FJ: H: 6EA>86 :C A6 EG:E6G68>VC 9: E>CIJG6 EGDI:8ID G6 N 8D8=>C>AA6 8DADG6CI: HJH B6G> CDH =68T6C K>6?:H CD HVAD EDG :A (: 9>I:GGQC:D H>CD EDG A6H 8DHI6H 9: `;G> 86 AA:<6C9D 6 A6H (6@6GDC )SHD> 9: ADH <G>:<DH 86CI696H EDG +TC96GD *ATBE>86 .:<JC96 D aCHJA6H !DGIJC6I6: 9: ADH A6I>CDH :H 9:8>G 6 A6H 6C6G>6H N 7DG9:6C9D BQH =68>6 :A .JG I6A K:O =6HI6 :A .:C:<6A J "DA;D 9: "J>C:6 :ME:9>8>VC 9: J9DMDH 9: NO>8DH B6H86GDC:H 9: EGD6 9: HJH C6K:H H: :C8DCIG6 GDC =6HI6 :C A6H 8DHI6H :G>IG:6H

/6GI:HHVH EJ:H CDH D;G:8: N6 =6 8>6 :A H><AD $3 6 9: JC E6CDG6B6 9: ADH BQH G>8DH N 68I>KDH 9:A (JC 9D CI><JD .: =6 >9:CI>;>869D 6 /6GI:HHVH 8DC A6 /=6GH>H 9: ADH G: A6IDH =:7G:DH FJ: E6G:8:C 6AJ9>G 6 A6H C6K:<68>DC:H EWC>86H =68>6 *88>9:CI: C 6A<JC6 9: :HI6H G:;: G:C8>6H CD =6N 9J96 :C 8J6CID 6 A6 >9:CI>969 HT O:FJ>:A 6E 331$$

";? BF:1.8;? :; 0>229;? =A2 8;? 12 5;D 8; ?2<.: <2>@2:20H.: .

8.? >.E.? <A>.92:@2 42>9F:60.? ./H.: 5./6@.1; @;1; 8; 8.>4; 12 8.

0;?@. ?2<@2:@>6;:.8 12?12 8. 29/;0.1A>. 128 ,H?@A8. 5.?@. 28 8/. -.

5./H.: 5205; .84A:.? 6:B.?6;:2? 2: 28 69<2>6; >;9.:; . 8; 927;> 0;9; 0.82:@.962:@; <.>. 3A@A>.? 2C0A>?6;:2? ; 6:0A>?6;:2? =A2 @;1; <;1H. 2?<2>.>?2 12 8;? BF:1.8;? - ?H 82? ?6>B6J <;>=A2 12?<AG? 12 <282.> 0;: 8;? 12 (;9. ?2 3A2>;: 0;:@>. 8;? 4;1;? &.>202 ?2> =A2 2: 8.

K8@69. 6>>A<06J: B2:H.: 12 8. &.:;:6. >246J: 12 A>;<. 2:@>2 8;? 8<2?

28 >H; ).B2 D 28 .:A/6; 9216; )A .9;> . 8. 6:12<2:12:06. 2>. 64A.8 .8 12 8;? 129F? ?.8B.72? &;> 6:086:.06J: ; <;> :.06962:@; ; <;>=A2 82?

1./. 8. 4.:. 2>.: 12<>21.1;>2? 8; =A2 :; 12/2 2C@>.I.>:;? =A2 8;? =A2 0;:;029;? 5.4.: 8; 96?9; ". 929;>6. 12 ?A? 12B.?@.06;:2? =A21J 2: 8.? @>.1606;:2? 5A9.:.? 0;: 8. 12 8;? 4>.:12? 0.@.086?9;? D 28 :;9/>2 12 BF:1.8; =A2 5. ?61; D ?64A2 ?62:1; <>;B2>/6.892:@2 .<860.1; . @;1;? 8;? 12?@>A0@;>2? 12 9;:A92:@;? D 12 /288.? .>@2?

8.>; =A2 @.9/6G: ?2 2:@>2@62:2: >;9<62:1; .<.>.1;>2? .@.0.:1; 0.

96;:2? ;:4>2?;? ?2:.1;? 0F9.>.? 12 16<A@.1;? .8.921.?P O,.D. A?@21 ?./2 % #

6A H:U6A6G :A 8DB:G8>D 9: />GD 9>8: /6GH>H IJ B:G869:GT6 6 86JH6 9: A6 BJAI>IJ9 9: ID96H A6H G>FJ:O6H 9: A6I6 =>:GGD :HI6UD N EADBD FJ: 9>D 6 IJH ;:G>6H^ J6C9D $H6T6H K6I>8>C6 A6 9:HIGJ88>VC 9: />GD :M 8A6B6 ] JAA69 C6K:<6CI:H 9: /=6GH>H EDGFJ: 9:HIGJ>96 :H =6HI6 CD FJ:96G 86H> C> :CIG696 6E

33$$$ :A .6ABD '33$$ H:U6A6 :CIG: ADH IG>7JI6G>DH J D;:G:CI:H 6 .6ADBVC 'DH G:N:H 9: /=6GH>H N 9: A6H >HA6H IG6:GQC EG:H:CI:H *IG6 G:;:G:C8>6 6 A6H G:A68>DC:H B6GTI> B6H 8DC ADH I6GI:H>DH =6AA6BDH :C %DCQH 4 %DCQH H: A:K6CIV E6G6 =J>G 9: A6 EG:H:C8>6 9: %:=DKQ 6 /=6GH>H N 9:H8:C9>V 6 %DEE: N =6 AAV JC C6KTD FJ: E6GIT6 E6G6 /=6GH>H N E6<6C9D HJ E6H6?: :CIGV :C SA E6G6 >GH: 8DC :AADH 6 /=6GH>H 9: 9:A6CI: 9: %:=DKQ

(QH 9>;T8>A G:HJAI6 :HI67A:8:G ><J6A H>B>A>IJ9 A:N:C9D :A 86ETIJAD 3 K:GHT8JAD 9:A '>7GD EG>B:GD 9: ADH -:N:H FJ: H:U6A6 :CIG: A6H <ADG>6H 9:A G:>C69D 9: .6ADBVC A6 9: I:C:G A6 ;ADI6 FJ: H6AT6 6 A6 B6G 6 /=6GH>H 8DC A6 ;ADI6 9: #>G6B JC6 K:O 8696 IG:H 6UDH K:CT6 A6 ;ADI6 9: /=6GH>H N IG6T6 DGD EA6I6 B6G;>A H>B>DH N E6 KDH :H9: AJ:<D ADH IG:H WAI>BDH EGD9J8IDH CD ED9T6C EGD8:9:G 9:A I:GG>IDG>D 9: /6GI:HHVH E:GD I6A K:O K>C>:G6 6 "69>G 8DC C6K:H I6GI:H>6H 9:H9: :A `;G>86 *88>9:CI6A )><:G>6 "DA;D 9: "J>C:6

HIDH I:MIDH EGJ:76C A6 >BEDGI6C 8>6 B:G86CI>A N C6K:<6CI: 9: /6GI:HHVH N HJH G:A68>DC:H 8DC ADH ;:C>8>DH N 6 IG6KSH 9: SHIDH 8DC ADH =:7G:DH N DIGDH EJ:7ADH DG>:CI6A:H : :AADH :HE:8>6AB:CI: EDG :A 6A6B7>FJ: 8DG:D<GQ;>8D 9: />GD H:9: 9: A6H 96C O6G>C6H BQH 8:A:7G696H :C A6 6CI><X: 969 86C6C:6 AA:<6GT6C 6 A6 E:CTCHJA6 ADH 76>A:H : >CHIGJB:CIDH BWH>8DH :CIG: SHIDH A6H 8GWHB6I6H 8GVI6ADH D 86HI6UJ:A6H :C ;DGB6 9: 86HI6U6 FJ: =6GT6C ;6BDH6H 6 A6H 76>A6G>C6H <69>I6C6H N 68DBE6U6GT6C :A C68> B>:CID 9: A6 96CO6 :HE6UDA6 AA6B696 6 <G6C9:H 9:HI>CDH

*)/$)0 -` &* (

)D H: H67: :C FJS 6UD C68>V E:GD HT 9DC9: :C #6B7JG<D N H: AA6B676 #:>CG>8= (6GI>C AJ:<D 86HI:AA6C>O69D (6GITC:O E:GD HT H: 8DCD8: :A 6UD :C FJ: BJG>V N 9VC9: :HIQ H:EJAI69D :C J6JI>IAQC 6A<D FJ: H:<JG6B:CI: A6 B6NDGT6 9: ADH K:8>CDH 9: :H6 ED7A68>VC 9:H 8DCD8:C 'A:<V 6 (SM>8D :C

G6 8DHBV<G6;D G:6A : >CISGEG:I: 9:A .6CID *;>8>D +J7A>8V N6 :C (SM>8D HJ -:E:GIDG>D 9: ADH I>:BEDH : #>H IDG>6 C6IJG6A 9: :HI6 )J:K6 HE6U6

SA H: 9:7: A6 :BEG:H6 9:A 9:H6<X: 9:A 16AA: 9: (SM>8D :C EGDED C>:C9D JC I6?D :C E6GI: 67>:GID N :C E6GI: 8:GG69D FJ: >GT6 9:H9: )D8=>HIDC<D =6HI6 :C8DCIG6GH: 8DC :A GTD /JA6 ]9: IG>HI: CDB7G: N EDG 9DC9: 9:H6<J6GT6C :A GTD 9: J6I>IAQC N A6H 8G:8>96H 9: ADH A6<DH 9: (SM>8D N /:M8D8D FJ: 9:H<G6 8>696B:CI: N 8DC ;G:8J:C8>6 >CJC 9676C A6 8>J969 ]D?D :HI6BDH =6 7A6C9D 9: BQH 9: 6UDH A HD 86KVC G:HJAIV :HIG:8=D EDG AD FJ: :C A6 I:GG>7A: >CJC968>VC 9: CD H>G K>V <G6C 8DH6 N A6 8>J969 E:GB6C:

UN GIGANTE DE VERDAD

"=<C;3<B= / <@71= "/@BM<3H

8>V >CJC9696 ]76= BJN ED8D I>:B ED ]8>C8D 6UDH C696 BQH +:GD (6GITC:O >CH>HI>V :C :A HD86KVC N H> <J>V 8DC A6 D7G6 6 E:H6G 9: HJH BJ8=TH>BDH 69K:GH6G>DH FJ: <G6IJ> I6B:CI: A: H6A>:GDC EDGFJ: 9: SH IDH CJC86 ;6AI6C

#=167AB=<5=

&* (

.: AA6B676 (6GITC .6AB:GVC N *?:96 )68>V :C :A G6C8=D 9: 8JA8D =>A6E6 "GD :C

DBD :G6 C6IJG6A :G6 8DCD8>9D :C ID9D :A K>GG:>C6ID 8DBD :A "> <6CI: .JH EG>B:GDH 6UDH ADH E6HV 8J>969D <6C69D N I6A K:O CD =67T6 FJ>SC H: 6IG:K>:H: 6 GD 76GA: C> JC 8DG9:G>ID G:8>SC C68> 9D C AD IG6?:GDC 6 A6 86E> I6A CD HVAD 8DBD 6IG68I>KD K> HJ6A H>CD I6B7>SC 8DBD JC ;: CVB:CD 9: A6 C6IJG6A:O6 =JB6 C6 C A6 869:B>6 9: .6C 6G ADH A: IDB6GDC HJH B:9>96H FJ: G:HJAI6GDC HD7G:8D<:9DG6H I:CT6 9DH K6G6H EJA<696H 9: 6AID 9:A =DB7GD 6A 8D9D EJA<696H 9:A 8D9D 6A G:B6I: 9: A6 B6CD 9: JC =DB7GD 6A DIGD BQH 9:

'D EG:H:CI6GDC 6A K>GG:N G6C8>;DGI: : >B6<>C6BDH A6 86G6 FJ: =67GQ EJ:HID .: 9>?D :CIDC8:H FJ: 6A C68:G N6 I:CT6 JC6 K6G6 N 8J6IGD 9:9DH +:H6 76 6GGD76H BQH A>7G6H G6 :A HSEI>BD 9: =:GB6CDH ]ED 7G: B69G: !J: EG:H:CI69D :C K6G>6H G:JC>DC:H EG>K696H N I6B 7>SC :C EW7A>8D E:GB>I>SC9DA: :A K>GG:N FJ: G:8>7>:G6 9>C:GD EDG :M =>7>GH: ],JS B:CDH \CD -: 8DGG>V 86H> ID9D :A E6TH N 6A<JCDH 9:A :MIG6C?:GD J6C9D KDAK>V 6 (SM>8D :C =67T6 6JB:CI6 9D 9DH EJA<696H 9: I6AA6 .JH 86AODC8>AADH H:GT6C 9:A I6B6UD 9: JC E6G686T96H E:GD 6HT N ID9D H: 69=>G>V 6A :?SG8>ID G:6A>HI6 E:GD HJ G:6A>969 ;J: DIG6 EDGFJ: (DG:ADH 6A 6ED9:G6GH: 9: =>A6E6 :C ?JC>D 9: :H: 6UD AD =>OD EG>H>D C:GD 68ID FJ: =67GQ H>9D :?:8JI6 9D EDG JC 76I6AAVC N AD B:I>V :C :A EG:H>9>D 9: 5686IJA6 EDG IG:H B: H:H .:<JG6B:CI: HJ B6CI:C8>VC :C :A E:C6A H6A9GT6 86GTH>BD N AD HDAI6GDC 4 K:6 8VBD I:GB>CV H>:C9D :H8DAI6 9:A B>HBD (DG:ADH

(JG>V :C =>A6E6 :C =68: :M68I6B:CI: 9DH8>:CIDH 6UDH C :A (JH:D 9: A6 #>HIDG>6 =67T6 JC G:IG6ID HJND ;:8=69D :C ]0C 8=6K6A 9: 6UDH % #

'6 HE6U6 9:A H><AD 31 C:8:H> I676 JC6 G:>C6 FJ: CD HVAD G:>C6G6 H>CD FJ: I6B7>SC ;J:G6 JC6 BJ?:G 8DBD AD ;J: $H67:A $ D8JE696 N EG: D8JE696 EDG ID9D AD FJ: ;6KDG:8>:G6 6 HJ G:>CD .J =>HIDG>6 =6 H>9D 8DC I696 N 86CI696 :C ID96H A6H A:C<J6H 9:A BJC9D N CD K6BDH 6 G:E:I>G AD N6 EJ7A>869D N G:E:I>9D 9:H9: =68: BQH 9: 8>C8D H><ADH +:GD \FJS :H AD FJ: 6 :AA6 A: 9:7: HE6U6 BSG> 86 N :A BJC9D :CI:GD .: EG:8>H676 JC6 BJ?:G 9: I:BEA: N ;: 8DC ;: CD HVAD :C G>HID H>CD I6B7>SC :C :AA6 B>HB6 EDGFJ: ;J: HJ ;: AD FJ: BQH HD7G:H6A>V :C :HI6 G:>C6 >GG:E:I>7A:

.: =6C :H8G>ID >CCJB:G67A:H A> 7GDH 7>D<GQ;>8DH N I6B7>SC CDK:A69DH G:HE:8ID 9: $H67:A N HJ G:>C69D J IDG:H FJ: :CH6AO6C >CK:HI><69DG:H FJ: :C8J:CIG6C :C HJH E:HFJ>H6H A69DH DH8JGDH FJ: 6A ;>C HDC ADH A6 9DH 8A6GDH N H><C>;>86I>KDH E6G6 FJ>: C:H A6 69B>G6C N H><J:C 69B>G6C9D

0C ?DK:C :H8G>IDG 9: CJ:HIGD I>:BED E:G>D9>HI6 6JIDG 9: BJ8=DH A>7GDH N 6GIT8JADH E:G>D9THI>8DH H: D8JEV 9: A6 ;68:I6 BQH CDI67A: 9: A6 G:>C6 86HI:AA6C6 ):B:H>D -D9GT<J:O 'D>H N :C :H6 H:B7A6C O6 :HI: :H8G>IDG CDH EG:H:CI6 :C HJ A>7GD $H67:A A6 6IVA>86 .J A:<6 9D E6G6 (SM>8D 9: G:8>:CI: EJ7A>

868>VC :H EG:8>H6B:CI: A6 BQH 9:H8DCD8>96 EDGFJ: ADH 6JIDG:H CD B>G6C :C :AAD ):B:H>D ;J: BQH 6AAQ 9: AD FJ: A6 =>HIDG>6 8J:CI6 N AA:<6 6 CJ:HIGDH 9T6H EJ:H <G68>6H 6 A6 ;: FJ: IJKD :C DAVC =DN JGDE6 N :A BJC9D :CI:GD 8DCD8:C CD HVAD CJ: KDH EGD9J8IDH 9: A6H I>:GG6H 9:H8J 7>:GI6H D :C8DCIG696H 6A 9:8>G 9: 6A<JCDH E:GD I6B7>SC EDG :AA6 EDG DAVC N ADH FJ: A: H><J>:GDC AA:<6GDC 6 A6H CJ:K6H I>:GG6H A:<>HA68>DC:H N 8DC8:EIDH ><CDG69DH 9:A :G:8=D

-D9GT<J:O 'D>H CD HVAD CDH EG: H:CI6 6 A6 :M8:AH6 G:>C6 H>CD I6B 7>SC AD FJ: CDH 9:?V :C =:G:C8>6 JC6 6BEA>6 H:G>: 9: >CHIGJ88>DC:H FJ: ;DG?6GDC A6 >9:CI>969 =>HEQC>86 9: ADH EJ:7ADH HI6H E6A67G6H CDH IG6:C 6 A6 B:BDG>6 ADH K:GHDH 9:

CIDC>D "JI>SGG:O :M EGD;:HDG 9: A6 .DG7DC6 9: +6GTH 6JIDG 9: JC6 BJN 8DBEA:I6 "G6BQI>86 :C 8JND EGVAD <D 9>8: 5;>. D ?629<>2 28 .>4;:.A@. ;?.

1; 'A2 128 9.> .>>;?@>.>2 8;? 3A>;>2?

8 205.> 28 F:0;>. <2?.1. : 8.? .:@H<;1.? 16?@.:@2? ,2>F 8. >AE 128 J84;@. <8.:@.1.

- ?0A05.>F 8. 82:4A. 12 2>B.:@2?

.> 6A<J>:C 69B>GV 6 A6 G:>C6 $H67:A ;J: JCD 9: ADH =DB7G:H BQH >AJHIG69DH 9: HJ I>:BED +:9GD (QGI>G 9: C<A:GT6 FJ>:C 68DBE6UV EDG 6UDH 6 A6 6IVA>86 HD7: G6C6 A6 BJ:GI: 9: :HI6 :MIG6DG9>C6G>6 BJ?:G :H8G>7>V 6A D7>HED 9: "G6C696 !G !:GC6C9D 9: /6A6K:G6 FJS :G6 AD FJ: I:CT6 FJ: =68:G N FJS 9:8>G 8J6C9D :A ;WC:7G: 8DGI:?D AA:<6G6 6 "G6C696 =67>:C9D H6A>9D 9: 16AA69DA>9 :C JC >I>C:G6G>D FJ: :C 6FJ:A I>:BED ;J: G:6AB:CI: SE> 8D 9:A 6HI>AAD 9: A6 (DI6 16AA69DA>9 6 GSK6AD :G9:UDH6 :7G:GDH /DA:9D (6CO6C6G:H +6A68>DH :A 1>HD 6G86H 9: HE:AWN %6SC /DGG: 6BED N "G6 C696 A6 ;6I><6 9:A 86B>CD H: 6U69T6C A6H AAJK>6H IDGG:C8>6A:H FJ: =68T6C >CIG6CH>I67A:H ADH 86B>CDH ADH GTDH N ADH IDGG:CI:H FJ: >CJC9676C ADH 86BEDH N I6CID ADH =DB7G:H 8DBD ADH 8676AADH FJ:9676C >CJI>A>O69DH D E:G:8T6C :C ADH 76GG6C8DH N ADH K6AA:H

C<A:GT6 9:8T6 :C HJ 86GI6 6A D7>HED 9: "G6C696 .J JGC6 9:7: H:G 69DGC696 8DC :MIG6DG9>C6G>DH G:A>: K:H -J:86H 7J?6H N '6CO6H H: EJ:9:C =:GB6C6G :C % #

A/03: :/ /BO:71/

>8: :A =>HIDG>69DG 5JG>I6 +DG A6 BJ:GI: 9: :HI6 <G6C BJ?:G N G:>C6 H: 9:?V 9: K:HI>G ?:G<6 EDG AJID 8DBD AD DG9:CV :C HJ I:HI6B:CID N 6HT CD A6 K>HI>V :A G:N C> H: =6 JH69D 9:H EJSH 9:A =Q7>ID 9: I6C :MIG6UD 9J: AD .>GK6C :HI6H ATC:6H 8DBD G:8DG 96IDG>D 9: ADH 6UDH 9: HJ BJ:G I: :A 9: CDK>:B7G: 9:

A6 9: FJ: I6A HJ:GI: B6C:?V A6H JC6H FJ: CD HJED 9:H 6>G6G A6H DIG6H GJ8:H (>IG6H N :IGDH 9:7:H EDC:G EDG 7A6HVC :C A6 FJ: B>A>I676 :C HJH 8DCFJ>HI6H EDG A6 ;: :C A6 FJ: :BE:UV HJ ED9:G EDG G:HI67A:8:G A6 9>H8>EA>C6 9: A6 ><A:H>6 :C A6 FJ: ;J: >GG:8DC8>A>67A: :C:B><6 9: A6 HJE:GHI>8>VC )D FJ>H>:G6 I: 9>HIG6?:H:H 6 ;DGB6G >CH 8G>E8>VC 9: A6 CD7A:O6 9: HJH 6H8:C9>:CI:H 9> FJ: H6 7:BDH ADH E69G:H E:GD CD 9: FJ>SC =:G:9V A6 =:GD>8> 969 9: QC>BD (6C96 =68:G JC <G6C EA6CD 9: BQGBDA :C A6 ;G:CI: 9: HJ JGC6 E6G6 :H8JAE>G :A :E>I6;>D E:GD CD I: ;6I><J:H :C 9>H8JGG>G :AD<>DH 4D 96GS A6 >CH8G>E8>VC

C ID96 :H6 <G6C I67A6 CD =6H 9: :H8JAE>G BQH FJ: :HID $. ' ' /b'$ +:GD EJ:9:H 6U69>G AD FJ: :A .67>D 9>?D 9: A6 I:B:GDH6 9: >DH $+. ' 0 $/0- +DG H> B>HB6 H:GT6 :AA6 6A67696

UDH BQH I6G9: H: G:E:I>GT6 8DC DIG6H :BD8>DC:H 9>HI>CI6H DIGD 8DGI:?D ;WC:7G: GJB7D 6 "G6C696 :A FJ: =>OD HJ =>?6 %J6C6 86B>C69D IG6H :A ;SG:IGD 9: !:A>E: :A #:GBDHD

&* (

.J EG>C8>E>D N HJ ;>C6A :H JC6 7J:C6 E6GI: 9: A6 =>HIDG>6 9:A (SM>8D 0C E:GHDC6?: FJ: AJ8=V AA:K6C9D H>:BEG: :A =Q7>ID 9: .6CID DB>C<D )68>V :C :A H><AD 31$$$ N BJG>V :C :A 3$3 .J CDB7G: 8DBEA:ID :G6 !G %DHS .:GK6C9D /:G:H6 9: (>:G )DG>:<6 N "J:GG6 ,J>:C:H H><J>:GDC HJH E6HDH EDG A6 ><A: H>6 N A6 EDATI>86 BJ8=D IJK>:GDC FJ: 86B>C6G EDG :A BJC9D H><C>;>8QC9DH: 86H> 8DBD JC K:G969:GD G:7:A9: A 9: 9>8>:B7G: 9: ;J: HDA>8>I69D EDG A6H 6JIDG>969:H :8A:H>QHI>86H 9: A6 76HTA>86 9: "J696AJE: E6G6 EGDCJC 8>6G :A H:GBVC 8DGG:HEDC9>:CI: 6 :H6 ;:HI>K>969 9: A6 86IDA>8>969 B:M>86 C6 %6BQH E:CH6GDC ADH 6H>HI:CI:H 6 6FJ:AA6 B>H6 AD FJ: >76 6 :H8J8=6G EJ:H 9>?D FJ: A6 >B6<:C 9: )J:HIG6 .:UDG6 9: "J696AJE: CD :HIQ E>CI696 :C A6 I>AB6 9: %J6C >:<D H>CD :C A6 86E6 9: .6CID /DBQH ,J:IO6A8D6IA E6G6 ADH >C9>DH 6EVHIDA 9: :HI: G:>CD H: H:GBVC A: K6A>V :CIG: DIG6H 8DH6H :A 9:HI>:GGD 6 HE6U6 : 6FJT H: HJ8:9:C ;J<6H N 6EG:=:CH>DC:H 9: 9>K:GH6H 8QG8:A:H N 8DCK:CIDH :C HE6U6 !G6C8>6 +DGIJ<6A 8DC HJ H:8J:A6 9: 6K:CIJG6H 4 :H 6EG:=:C9>9D N EGD8:H69D EDG A6 $CFJ>H>8>VC .J K>96 ;J: G:6AB:CI: CDK:A:H86 N =6HI6 HJH G:HIDH IJK>:GDC I6B7>SC JC6 :MIG6U6 6K:CIJG6

A BDG>G ;J: H:EJAI69D 8DBD 9DB>C>8D FJ: :G6 :C :A E6CI:VC FJ: :A 8DCK:CID 9: .6CID DB>C<D I:CT6 6C:M69D 6 HJ :9>;>8>D :A FJ: IJKD FJ: 9:H6E6G:8:G E6G6 67G>G A6 86AA: 9: ':6C9GD 16AA: FJ: K6 9: A6 +A6O6 6 A6 86AA: 9: +:GW G6 I>:BED 9: JG76C>O68>VC E:GD BQH 9: G6E>U6 A 8DCK:C ID ;J: H6FJ:69D N AD WC>8D FJ: FJ:9V ;J:GDC IG:8: BDB>6H :CIG: A6H FJ: :HI676 A6 9: ;G6N .:GK6C9D .: HJED FJ: :C 6FJ:AA6H BDB>6H ;J:GDC :M=>7>96H :C JC6 ;:G>6 9: A6 8>J969 GJH:A6H

0HI:9 H67: FJ: A6 H><A6 :H JC6 67G:K>6IJG6 B:9>6CI: >C>8>6A:H J DIG6H A:IG6H 8DCK:C8>DC6A:H E6G6 9:H><C6G HI69DH HD8>:969:H 6<GJE68>DC:H 9: ID9D I>ED :I8 :I8

.J JHD H: >C>8>V :C ADH 00 ]O6H A6 EG>B:G6 N :C B:CDH FJ: H: H6CI><J6 JC 8JG6 AD8D A6 8DE>6GDC ADH GJHDH N C68>V A6 0-.. N 9: 6=T =6HI6 =DN EDG A6 B6U6C6 H><J:C C68>:C9D H><A6H 8DBD ADH =DC<DH :C A6 AAJK>6 9: B6ND '6H E6A67G6H ;DGB696H 8DC H><A6H 8DBD - )! EDG :?:BEAD G:8>7:C :A CDB7G: 9: 68GVC>BD 6 N 9: :H: BD9D I:C:BDH A6 0) . * A6 *)0 A6 $

N =67A6BDH 9: :AA6H 8DBD H> 9: :HIG:AA6H 9: BJH>86A:H H: IG6I6H: C 8696 E6TH C68:C H> <A6H E6G6 AA:C6G JC H><AD !DGB6G JC A>7GD 8DC ID96H A6H H><A6H FJ: :A BJC9D I>:C: H:GT6C JC IG676?D >C 67DG967A: >BEDH>7A: 9: G:6A>O6G

C JC I>:BED B: 9>D EDG FJ: G:G IG676?6G :C JCD 9: :HDH 68GVC>BDH 8DBD A6 + A6 &* (

. $ * '6 . "* A6 *) "* =6HI6 :C A6 ) . EJ:H 9: SHI6 :HE:G676 =68:G JC K>6?: EDG 6AAQ 6GG>76 E:GD 9:H>HIT +:CHS :C >G 6A + ) CD 6 8DBEG6G H>CD 6 K:G H> B: 9676C H>FJ>:G6 JC B:C9GJ<D

,J>H: 6;>A>6GB: 6A .0( .>C9> 86ID cC>8D 9: DA:GDH CVC>BDH E:GD A6 . + CD B: 9676 A6 A>8:C 8>6 C:8:H6G>6 E6G6 8JBEA>G B> HJ: UD JHFJS 68DBD9D :C :A .0(+ .>C9>86ID cC>8D 9: BWH>8DH +: H69DH EJ:H ID8676 ADH E6A>AADH 76HI6CI: 7>:C E:GD CD I6CID 8DBD E6G6 H:G B>:B7GD 9: JC H>C9>86ID I6C H:G>D $CI:CIS 6;>A>6GB: 6A -( HD8>68>VC -:<>DC6A (6O6IA:86 9: C8>6CDH CD B: IDB6GDC :C H: G>D H: 7JGA6GDC 9: BT E:GD H:<JT 7JH86C9D 9DC9: B:I:GB: DBD JC6 K:O 9: BJN ?DK:C B: 9>D EDG E>CI6G 68J9T 6A +$.$/* +>CIDG:H $C I:GC68>DC6A:H .>8D9SA>8DH N *7IJ HDH ] A6GD B: H686GDC 6 A6 EG> B:G6 E>CI6 FJ: =>8:

CIDC8:H JC 6B><D B: HJ<>G>V

@/G (3@D/<2= )3@3A/ 23 "73@

FJ: B: ;J:G6 EDG :A A69D 9: A6 +" +DATI>86 "G68>DH6 N HT IDFJS A6 EJ:GI6 9: :H: ( GI: 9: (:CI>G N :A:<T :A . +* .>C9>86ID CDGB6A 9: +D9:G:H *8JAIDH (: ;J: ;6I6A 8DC :A . +* :CIDC8:H E>C8=S :C A6 - ) -:<:C:G68>VC C>B696 )68>DC6A N B:G>86C6 E:GD H> 8DC :A . +* B: ;J: 8DBD :C ;:G>6 8DC A6 - ) ;J: E:DG EJ:H B: E6H676 :A I>:BED H6AI6C9D 9: JC 9:HE68=D 6 DIGD =6HI6 FJ: B: 67J GGT N E:CHS :C A6 1 1:C9:9D G:H JIV8IDCDH 6AA:?:GDH B7>K6A:CI:H E:GD CD G:HJAIV A6 1 B: B6C9V 6 A6 DC;:9:G6 8>VC #JB6C6 $CI:CH>K6 )68>DC6A 9DC9: B: :C8J:CIGD 6 B>H 6C8=6H

HE:GD FJ: 9:HEJSH CD B: :CKT:C 6 A6 ":C:G68>VC 9: C8>6CDH :H 6=J8>69DH CVC>BDH N H> JC: JH I:9 A6H H><A6H 9: :HI6H WAI>B6H DG <6C>O68>DC:H 96GQ 8DC B> ;>C6A E6G69:GD 4 HT :CIDC8:H B: :CD ?6GT6 9: K:G969

] HE:GD FJ: :A -$+ FJ: EDC<6C :C B> C>8=D H:6 JC ED8D BQH H:G>D EDG >DH % #

"/<=:= "73@ 27@31B=@ 23 :/ @3D7AB/ &*T (

A E6H69D B>SG8DA:H 9: H:EI>:B7G: :A J:GED 9:A 1DAJCI6G>69D DG<6C>OV JC6H EAQI>86H 9: ;6B>A>6 :C A6H FJ: :A EA6I>869DG ;J: :A 9>G:8IDG 9: :HI6 G:K>HI6 ,0a^ .

\4 9: FJS EA6I>8V .: EG:<JCI6GQ JHI:9 +J:H 9: ID9D AD FJ: 6 CJ:HIG6 :C:;>8:C8>6 6I6 U: EDGFJ: E6G6 H67:G 69VC9: K6BDH :H EG:8>HD H67:G 9: 9VC9: K:C>BDH

C A6 EAQI>86 H: 9>?D 8VBD 8JQC9D EDG FJS E6G6 FJ>SC:H N FJ>SC:H :G6C :HDH FJ>SC:H E6G6 ADH FJ: H: ;JC9V :HI6 $CHI>IJ8>VC :C A6 FJ: :HI6BDH E6G69DH D H:6 IG676?6C9D .: EA6I>8V ]B: :C86CI6 :A K:G7D 9:A C68>B>:CID K>96 N E6H>VC 9: 6FJ:AA6 HD8>:969 8G:696 EDG :A H:CI>9D 7:CS;>8D FJ: 6C>B676 6A ;JC969DG !G6C 8>H8D +G:ID N ):ID N 8G:V JC6 :C:;>8:C8>6 FJ: =DN D8JE6 JC AJ<6G EGDB>C:CI: :C :A BJC9D 9: A6 B:9>8>C6 N 9: A6 K>GIJ9 9: =68:G 7>:C 6 DIGD ,J>OQ A6 EAQI>86 CD :HIJKD 6E:<696 6A :HIG>8ID ;DGBJA>HBD N 6A A:C<J6?: EGD E>D 9: JC6 8DC;:G:C8>6 I6C H:G>6 8DBD EDG :?:BEAD A6H EGDE>:969:H 8JG6I>K6H 9: A6 <G6H6 9: A6 8DA6 9: ADH E6 IDH EJ:H :A EA6I>869DG I>:C: EDG CDGB6 8DB:CO6G HJH EAQI>86H GDBE>:C9D :A >CK>H>7A: =>:AD FJ: H:E6G6 6A FJ: =67A: 9: FJ>:C AD :H8J8=6 '6 H:G>:969 HVAD 867: :C A6H 6<:C8>6H ;JC:G6G>6H E:GD :C DIGDH ;DGDH AD FJ: 9:7: G:>C6G :H JC6 8DGG>:CI: 9: H>BE6IT6 :CIG: EA6I>869DG N EW7A>8D

/:GB>C696 A6 H:88>VC >C;DGB6I>K6 H6AI6C9D 9: JC 6UD 6 DIGDH E:GD H>C H6A>GH: 9:A I:B6 6JCFJ: I6B7>SC EA6I>8V 9:A +6CI:VC HE6UDA I:GB>CV 8DC JC 7:AATH>BD ED:B6 9: :CTI:O 6GG6H8D B>HBD FJ: >CH:GI6BDH :C :HI: CWB:GD EDG E:I>8>VC <:C:G6A 9: A6 J9>:C8>6 ]4 CD H: 86CH676 :A 6<J6 9: 8DGG:G C> H: 86CH676 % #

:A BDA>CD 9: BDA:G H: 86CH676 :A BDA>C:GD 4 CD H: 86CH676 :A 6<J6 9: E6H6G C> H: 86CH676C A6H E6A6H 9: 6B6H6G H: 86CH676 :A E6C69:GD 4 CD H: 86CH676 A6 BJ:GI: 9: K>K>G C> H: 86CH676 A6 K>96 9: BDG>G H: 86C H676 :A H:EJAIJG:GD (6H H> :A 6<J6 H: 86CH6G6 9: E6 H6G N H: 86CH6G6 A6 =>:G76 9: K:G9:6G \FJS >76 6 H:G 9:A ?6G9>C:GD 4 H> H: 86CH6G6 :A 6<J6 9: 8DGG:G N H: 86C H6G6C ADH QG7DA:H 9: 8G:8:G \FJS >76 6 H:G 9:A 86GE>CI: GD 4 H> H: 86CH6G6 A6 BJ:GI: 9: K>K>G N H: 86CH6G6 A6 K>96 9: BDG>G ]+D7G: 9:A H:EJAIJG:GD DBD 68ID ;>C6A N E6G6 HDGEG:H6 9:A EA6I>869DG A: :CIG:<6GDC JC6 7:AA6 EA686 9: -:8DCD8>B>:CID B>HB6 FJ: 6E6G:8: :C A6H ;DIDH 69?JCI6H +DG EG>B:G6 :C A6 K>96 68I>K6 =:BDH H>9D G:8DCD8>9DH EDG 6A<D FJ: :HI6 BDH 8DCH8>:CI:H CD B:G:8:BDH E:GD AD G:8>7>BDH 8DC A6 :BD8>VC C6IJG6A 9: :HIDH 86HDH :MIG6DG9>C6G>DH EGD K:8=6BDH A6 D86H>VC E6G6 EGDBD8>DC6G :A A>7GD 9: ADH

6UDH 9: ;:HI>K6A:H 9: :AA6H GI:H :C :A FJ: H: 8J:C I6 A6 =>HIDG>6 9: A6 .D8>:969 9: :C:;>8:C8>6 HE6UDA6 :9>I69D EDG A6 %JCI6 HE6UDA6 9: DK69DC<6

!>C6AB:CI: H: H>GK>V JC 9:A>8>DHD 6B7><W FJ: IJKD 9: ID9D N :C :H: ID9D B:I6 JHI:9 AD FJ: FJ>:G6 9:H9: K>CD 6 E6HI:A:GT6 !J: JC K:G969:GD EA68:G =67:G 8DCIG> 7J>9D 6A 8DCD8>B>:CID 9: AD FJ: :H CJ:HIG6 6B696 : C:;>8:C8>6 HE6UDA6 ] = N <G68>6H H:UDG6H BT6H

&* (

+DG K:CIJG6 <G68>6H 6 JCDH 6EJGDH C6IJG6A:H 9: ID9D H:G K>K>:CI: FJ: :C .6C8=D +6CO6 H>:BEG: H: B6C>;:HI676C 8DC :HIG:E>IDHDH :HIGJ:C9DH K>CD 6 9:H 6I6GB: N :CH:<J>96 8DGG>V 6EJG69TH>BD 6 :H8DC9:GH: IG6H JC E:FJ:UD B6IDGG6A N ND 6A K:GB: A>7G: 8DB:C8S 6 =68:G AD FJ: 8J6AFJ>:G6 :C B> 86HD =J7>:G6 =:8=D H6AI6G EDC:GB: 9: E6I6H G:A>C8=6G 9: 6A:<GT6 N 8DC A6H 9:A6CI:G6H 7G68:6G E6G6 9:H:CIJB:8:GB:^ DC ,J> ?DI: 6A K:GB: 8G:NV FJ: :A B6A:;>8>D =67T6 E6H69D N EDG AD B>HBD :G6 N6 :A BDB:CID 9: EGDH:<J>G A6 6K:CIJG6

46 :A 6A76 :G6 JC6 G:6A>969 N CDH :CKDAKT6 8DC HJ EG:H:C8>6 DC ,J>?DI: KJ:AK: 6 BDCI6G B: E>86 N CDH EDC:BDH :C B6G8=6 9:HE>9>SC9DH: 9: HJ :H8J9:GD 6A I>:BED FJ: A: 9:8T6 FJ: 6AAT A: 6<J6G96H: EJ:H :C IG:H 9T6H KDAK:GT6 HIQ76BDH :CIG: ;GDC9DHDH QG7DA:H B: E6G:8: FJ: :G6C 86HI6UDH A <DAE:I:D 9: ID96 A6 CD8=: CD 8:H676 E:GD 6A ;>C 9:H8J7G>:GDC A6 G6OVC 9: ADH >C;:GC6A:H :H IGJ:C9DH :CIG: ADH QG7DA:H H: IG6I676 9: JC 76IQC BDK>9D EDG :A 6<J6 9: JC 6GGDND 76HI6CI: 86J96ADHD N FJ: 6A<J>:C >C<: C>DHD EDG 9:BQH 6EGDK:8=V 6FJ:AA6 ;J:GO6 =>9GQJA>86 E6G6 BDK:G HJ BQFJ>C6 <DAE:69DG6 9: E6UDH N E>:A:H A 9:H8J7G>G :A B>HI:G>D 9: ADH GJ>9DH H: :C ;G6H86GDC :C JC 9>QAD<D :C :A FJ: H: :8=6GDC :C 86G6 :A B>:9D FJ: IJK>:GDC 6JCFJ: 9:H9: AJ:<D C>C<JCD AD IJKD EJ:H ID9D H: FJ:9V :C EG:86J8>VC EDG AD FJ: EJ9>:G6 HJ8:9:G

: EGDCID 8DB:COV 6 AADK:G N .6C8=D EGDEJHD <J6G:8:GH: :C :A AJ<6G 9: ADH 76I6C:H AD FJ: 6 B> E6G:8:G :G6 AD BQH H:CH6ID N G6ODC67A: N AD B>H BD DE>CV -D8>C;DGI: E:GD DC ,J>?DI: H: C:<V EDGFJ: C6IJG6AB:CI: =67T6 8D7G69D CD ED8D 67DGG:8>B>:CID 6A 9:H8J7G>G FJ: 6FJ:AAD =67T6 H>9D JC ;G686HD 6A CD EGD EDG8>DC6G A6 6K:CIJG6 FJ: >B6<>C6G6 N :H6 A6 6K:CIJG6 :G6 EG:8>HD :C8DCIG6GA6 :C DIGD AJ<6G 6HT FJ: B: :C;>AV EDG DIGD 86B>CD H:<J>9DH EDG .6C8=D N -D8>C;DGI: )D 7>:C =67T6BDH 86B>C69D JC6 B:9>6 =DG6 B: ;G:C6 :C H:8D E6G6 9:8>GA: 6 .6C8=D FJ: =68>6 :AADH K:CT6 JC =DB7G: 6 8676AAD FJ: IG6T6 :C A6 867:O6 JC6 8DH6 FJ: G:AJB7G676 8DBD :A DGD N 8A6GD :HD H><C>;>8676 FJ: A6 6K:CIJG6H :HI676 :C EJ:GI6 N K:C9GT6 6 HJEA>G A6 FJ: CD EJ9D I:C:G :C ADH 76I6C:H

+6G6 .6C8=D 6FJ:A =DB7G: CD K:CT6 HD7G: JC 86 &* (

76AAD H>CD BDCI69D :C JC 7JGGD I6C 8DGG>:CI: 8DBD :A HJND N :HD AD EJ9: 8DBEGD76G :C 8J6CID AD K> N I6B 7>SC -D8>C;DGI: FJ: EDG 8>:GID H: 6A:<GV BJ8=D 6A K:G JC =:GB6CD 9: G6O6 EDG 6FJ:AADH 6C9JGG>6A:H

DC ,J>?DI: CD K>D AD B>HBD FJ: .6C8=D EDGFJ: SHI: :HI676 :C AD 8>:GID 'D FJ: DC ,J>?DI: K>D ;J: JC =DB7G: 6 8676AAD FJ: AA:K676 EJ:HID :C A6 867:O6 C696 B:CDH FJ: :A 4:ABD 9: (6B7G>CD FJ: 8DBD H: H67: :H E6GI: 9: A6 6GB69JG6 6CI><J6 FJ: G:H<J6G9676 A6 86 7:O6 N :A GDHIGD N H: 8DBEDCT6 9: BDGG>VC K>H:G6 N 767:G6 DC ,J>?DI: 8DCD8T6 9:H9: AJ:<D A6 =>HIDG>6 9:A ;6BDHD N:ABD 9: (6B7G>CD G:N BDGD 9: ADH A>7GDH 9: 8676AA:GT6 FJ: A:T6 B> H:UDG N 8DCD8T6 9:H9: AJ:<D FJ: :A I6A N:ABD =68T6 >CKJAC:G67A: 6 FJ>:C AD AA:K6G6 EJ:HID C 6FJ:A 86HD H:<WC :H8J8=S 9:8>G 6 B> 6BD JC I6A -:>C6A9D A: GD7V :A N:ABD 6 (6B7G>CD N AD<GV 96GA: BJ:G I: )D B: :MIG6UV :CIDC8:H FJ: :C JC6 H>BEA: 768T6 9: 76G7: GD K>:G6 B> H:UDG :A 9>8=DHD N:A BD N FJ: 69:BQH ;J:G6 9: DGD

HT FJ: HJ 9:7:G :G6 G:H86I6GAD 6 8DHI6 9: AD FJ: ;J:H: (: E>8V 8DC ;J:GO6 EJHD A6 A6CO6 :C G>HIG: FJ: :H :A =>:GGD 9:A E:ID 9: A6 6GB69JG6 9DC9: H: 6;>6C O6 A6 A6CO6 N ADH 9DH CDH ;J> BDH 8DCIG6 6FJ:A 7J:C =DB7G: FJ: AJ:<D AD HJE: :G6 JC ED7G: 76G7:GD FJ: >76 6 :?:G8:G HJ D;> 8>D :C JC EJ:7AD 9: EDG 6AAT N 8DBD :A HDA :G6 76HI6CI: >C8A: B:CI: H: 8DAD8V A6 768T6 6 <J> H6 9: HDB7G:GD N ADH G6NDH 9:A HDA AD =68T6C E6G:8:G 9: DGD

A >BE68ID ;J: 7:HI>6A EDG FJ: :A 76G7:GD H: 86NV 9:A 7J GGD N :8=V 6 8DGG:G 9:?6C9D 6A 6HCD E6I6H 6GG>76 N A6 768T6 I>G696 :CIG: A6 B6A:O6 9:A 86B>CD -:8D<>V .6C 8=D A6 768T6 A6 :M6B>CV N :8=V 8J:CI6H B:CI6A:H 9: 8JQCID ED9GT6 K6A:G EJ:H 6A E6G:8:G :G6 9: 7J:C6 86A> 969 +:GD DC ,J>?DI: H: A6 FJ>IV :CH:<J>96 H: A6 EJHD :C A6 867:O6 EDGFJ: :G6 :A N:ABD 9: (6B7G>CD FJ: 9:H<G68>696B:CI: :G6 <G6C9: E6G6 SA .>C :B76G<D 6JCFJ: A: GD9676 :C A6 867:O6 6HT H:<J>BDH :A 86B>CD N 8DBD H>:BEG: =68T6C 9:HEJSH 9: 8J6AFJ>:G A6C8: 9: ED86 BDCI6 H: :CO6GO6GDC :C JC >CI:GB>C67A: 9>QAD<D 6A FJ: C> -D8>C;DGI: C> ND EJH>BDH 6I:C8>VC FJ: EDG 8>:GID SA >76 BJN 86AA69D 8DBD H> GJB>6G6 HJH EGDE>DH E:CH6B>:CIDH *)/$)0 -` % #

HT 8DBD ADH 9:A>869DH E:G;J B:H ADH 9:A>8>DHDH <J>HDH ADH :M FJ>H>IDH EDHIG:H ADH BQH :MVI>8DH 6GDB6H D :A BQH 7:AAD N E:G;:8ID 9: ADH A>:CODH ID9D :H G:HJAI69D 9: 6A:68>DC:H :C A6H FJ: >CI:GK>:C:C :A:B:CIDH 9>K:GHDH

+6G6 :A67DG6G JC 6GDB6 :H EG: 8>HD 8DB7>C6G EGD9J8IDH FJTB>8DH FJ: >C9>K>9J6AB:CI: I>:C: DADG:H G:EJAH>KDH E:GD FJ: ?JCIDH EGD9J8:C :H:C8>6H B6G6K>AADH6H

A 6?D :H JC 7JA7D 8JND H67DG

6<G696 E:GD :A DADG D;:C9: H>C :B 76G<D 6A 8DB7>C6GAD 8DC DIGDH K:<: I6A:H 8:7DAA6 IDB6I: E>B>:CIDH N DIG6H =>:G76H CDH 96C H6AH6H 9:A> 8>DH6H E6G6 86GC:H 6K:H N E:H86 9DH

0C E>CIDG EDC: :C HJ E6A:I6H ID 9DH ADH 8DADG:H 9: A6 8GDB6ID<G6;T6 N 9: :AA6 H6A: JC E6>H6?: :C86CI69D A6 ;><JG6 9: JC6 BJ?:G =:GBDH6 D JC :HI:G8DA:GD I6C G:6A FJ: 86H> H: G:HE>G6C HJH =:9DG:H EDG AD B6G6K> AADHD FJ: :HIQ E>CI69D

)D =6N E6TH :C :A BJC9D FJ: CD

)2 1602 =A2 0;9; 2?<20@F0A8; :.06J 2: >206. ";? 6:9A2/82? ; ?2. 8;? 8;0.82? @2.@>.82? @.:@; 2: >206. 0;9; 2: (;9. ?2 5.0H.: .8 .6>2 86/>2 ";? 4>624;? 8;? 0;:?@>AH.: 2: 8.? 8.12>.? 12 8.? 9;:@.I.?

2: @.:@; 8;? >;9.:;? 8;? 82B.:@./.: 2: 8;? 88.:;? D 282B./.: ?A? 4>.

1.? <;> 9216; 12 /JB21.? 12 5;>964J: D .>0;? 8; =A2 :; ?./H.: 5.02> 8;? 4>624;? ";? @2.@>;? 9;12>:;? 12 8.? 4>.:12? 06A1.12? 128 9A:1; 0;:?@>A D2: 2163606;? 2: 4>.: 2?0.8. <.>. .0;9;1.> . 9.D;> :K92>; 12 <2>?; :.? .<.>@2 128 3;?; 12 8. ;>=A2?@. =A2 0.1. 1H. 8.? 5.D 9F? :A92>; ?.? ".? 3.05.1.? 12 2?@;? :A2B;? @2.@>;? ?;: .84A:;? B2>1.12>.?

7;D.? .>=A6@20@J:60.? 0;9; 28 *2.@>; 12 8. R<2>. 12 &.>H? 288.? > @2? 12 #GC60; 28 12 A?@>.86. D @.:@;? ;@>;? =A2 2:;>4A88202: .8 <.H? =A2 8;? @62:2

%/:/17= 23 :/ U>3@/ 23 %/@MA

% #

H:6 EGD9J8ID 9: DIGDH EJ:7ADH >CK6 HDG:H N HDC A6H >CK6H>DC:H A6H FJ: EGD9J8:C :A >9>DB6 FJ: ADH EJ:7ADH =67A6C HE6U6 :H I6A K:O A6 I>:GG6 FJ: BQH EJ:7ADH A6 =6C E>H69D >7: GDH 8:AI6H ;:C>8>DH 86GI6<>C:H:H <G>:<DH GDB6CDH HJ:KDH KQC96ADH 6A6CDH <D9DH K>H><D9DH DHIGD<D9DH N ;>C6AB:CI: ADH B6=D B:I6CDH N 8696 JCD A: ;J: ;DGB6C 9D HJ A:C<J6 HJ 8JAIJG6 HJ EGDE>D H:G N 8DBD ADH GTDH 9:H7DG969DH A: ;J:GDC 9:?6C9D :A AS<6BDH K>K>;>86 9DG FJ: 8DC :A I>:BED H: IG69J?D :C 8JAIJG6 EGDE>6 DC (D9:HID '6;J:CI: 9>8: :C HJ >H8JGHD EG:A> B>C6G 6 A6 #>HIDG>6 ":C:G6A 9: H E6U6 DBD :C ID9D 8DBEJ:HID 6HT :C :HI: <><6CI:H8D 8DC?JCID 8696 E6GI: FJ: A: 8DBEDC: I>:C: JC6 ;JC 8>VC EGDE>6 FJ: 9:H:BE:U6G 696 >C9>K>9JD 8696 ;6B>A>6 8696 EJ:7AD 8696 C68>VC 8696 HD8>:969 =6 G: 8>7>9D HJ :HE:8>6A B>H>VC 8DBD 8696 :969 8696 H><AD 8696 <:C: G68>VC I>:C: HJ TC9DA: HJ 86GQ8I:G HJ ;>HDCDBT6 ID9D :C G:A68>VC 6 A6 K>96 JC>K:GH6A 9: A6 =JB6C>969

4 (SM>8D 6A ><J6A FJ: DIG6H C6 8>DC:H 9:A BJC9D 6HT 8DBD A6 B>H B6 HE6U6 :H EGD9J8ID 9: HJH >C K6HDG:H :H :A G:;A:?D 9: FJ>:C AD 8DCFJ>HIV 8DC A6 B>HB6 A:C<J6 A6 B>HB6 G:A><>VC A6 B>HB6 8JAIJG6 ID9D :AAD 6B6A<6B69D 8DC AD 7J:CD N AD B6AD FJ: :AA6 G:8>7>V 9: ADH EJ: 7ADH FJ: A6 ;DGB6GDC H EDG :HD FJ: 6 (SM>8D A: E6HV 8DC HE6U6 AD FJ: 6 HE6U6 A: E6HV 8DC -DB6 FJ: AD FJ: E:G9>V 9: >C9:E:C9:C8>6 AD <6CV :C 8JAIJG6 4 :HD :H >C9>H8JI>7A: .: ED9GQ 9:8>G FJ: ;J: BQH AD B6AD FJ: AD 7J:CD E:GD AD 7J:CD ;J: I6C 7J: CD FJ: AD B6AD FJ:9V DE6869D H>:C9D BQH FJ: AD 7J:CD 'DH 9: BQH :H AD 9: B:CDH >8:C %J6C 9: >DH +:O6 :C JC ED:B6 JAE6 ;J: 9:A I>:BED N CD 9: HE6U6 6EA>86 7A: 6 ID9DH ADH EJ:7ADH 9:A BJC9D >CK69>9DH N 6H:CI69DH :C AD FJ: H: GT6 HJ EGDE>6 I>:GG6

&* (

.:H>VC 9>8>:B7G:

!J:CI:K>AA6 I>:C: JC EGD7A:B6 6A<D FJ: CD :MIG6U6 6 C69>: N AD EDC: :C 8DCD8>B>:CID 9: A6 %JCI6 .: =67T6C EG:H:CI69D K6G>DH 86HDH 9: 8DBEGD 768>VC 9: ITIJADH 9: EGDE>:969 E:GD :A EGD7A:B6 :G6 FJ: CD :M>HIT6C ADH A>7GDH :C ADH FJ: EJ9>:G6C :C8DCIG6G ADH 96IDH C:8:H6G>DH C> SHIDH C> ADH I6ADC6G>DH 9: ;68IJG6H 9:H9: :A 9: :C:GD 9: =6HI6 B6ND 9:

9D8: 6UDH H>C A>7GDH N I6ADC6G>DH E:G 9>9DH N E>9: FJ: JC6 DB>H>VC 6K: G><X: :A E6G69:GD 9: ID96 :H6 9D8J B:CI68>VC .: 8DC;DGB6 A6 HDA>8>I6 96 DB>H>VC 8DC :A B>HBD !J:CI:K>AA6 6GG6C9> N 9:A -TD E6G6 FJ: 6H:HDG69DH EDG JH:7>D "6NDHHD K6N6C 6 K:GH: 8DC :A :M 69B>C>HIG69DG %J6C (:G>CD FJ>:C 6A E6G:8:G H: ADH AA:KV 8J6C9D 9:?V HJ 86G<D :C :A +6CI:VC

C A6 H:H>VC 9: 9: 9>8>:B7G: 9: :H: B>HBD 6UD G:6E6G:8: JC6 K:O BQH :A 6HJCID 9:A I:GG:CD FJ: FJ>:G: :A .G "DCOQA:O E6G6 =68:G HJ BDCJB:CID N EDG :A FJ: I6CID I>:B ED H: :BEA:V N H: E:G9>V :C A6 H:H>VC 9: 9: CDK>:B7G: A .G

+G:H>9:CI: :MEA>86 JC6 8DCK:GH68>VC FJ: IJKD 8DC JC :CK>69D 9:A .G

"DCOQA:O N A6 B6C:G6 >C8DGG:8I6 9: :H6 E:GHDC6 E6G6 8DC SA =6HI6 :A :MIG:BD 9: I:C:G FJ: 9:HE:9>GA: 9: HJ 86H6 9>8>SC9DA: FJ: B6C96G6 :A .G "DCOQA:O DIG6 E:GHDC6 FJ: EJ 9>:G6 :CI:C9:GH: 8DC SA N =6HI6 A6 ;:8=6 CD =6 KJ:AID C69>: ] AD B: ?DG =>OD HJ BDCJB:CID :C :A ?6G9TC 9: HJ 86H6 6GG6C9> 9>8: FJ: AD FJ: :A .G

"DCOQA:O 9:H:6 :H H67:G :A CWB: GD ;>?D 9: B:IGDH FJ: H: A: K:C9T6C E6G6 8DC 6GG:<AD 6 :HD =68:G :A EA6 CD 9: HJ 9>8=DHD BDCJB:CID HD :G6 ID9D !J:CI:K>AA6 G:HEDC9: FJ: 9:B6H>69D H67: A6 8DB>H>VC FJ: >CI:GK>CD :C :A 6HJCID FJ: ADH B: IGDH FJ: H: A: EJ:9:C 96G E6G6 A6 8G>EI6 HDC M B D H:6 B:IGDH &* (

8J69G69DH :A -TD >CI:GK>:C: )D H: A: 9:7: HJ?:I6G 6 I6B6UD BQH D B:CDH 8=>8D D BQH <G6C9: N FJ: CD K: EDG FJS =6 9: H:G :A B>HBD I6B6UD FJ: :A 9: A6 ;6B>A>6 /DG>:AAD

]#6HI6 :HD 9>H8JIT6C +:GD !J:CI:K>AA6 G:E>I: FJ: A6 8G>EI6 CD EJ:9: H:G BQH FJ: 9: B:IGDH

>H8JI:C H><J:C 9>H8JI>:C9D N 8DC8AJN:C EDGFJ: H: 9>G>?6 JC6 8D BJC>868>VC 6A .G JH:7>D "DCOQA:O E6G6 FJ: H: :CI>:C96 9>G:8I6B:CI: 8DC A6 DB>H>VC 9:A +6CI:VC 6 ;>C 9: I:GB>C6G :HI: 6HJCID

\.:GQ K:G969 FJ: N6 CD CDH :C 8DCIG6G:BDH 8DC :A 9>8=DHD I:GG:CD 4 8DC :HI6 WAI>B6 %JCI6 9: H: 9:HE>9:C I6C 6B><67A:B:CI: 8DBD H> C696 =J7>:H: E6H69D 9:H:QC9DH: AD B:?DG E6G6 A 69B>C>HIG69DG EDC: :C 8DCD 8>B>:CID 9: A6 %JCI6 >G:8I>K6 ADH IG6 76?DH FJ: A6 T6 9: IG6CKT6H AS8IG> 8DH 9:7: =68:G 6 A6 :CIG696 9:A E6

I>D 9:A +6CI:VC [ A:K6CI6G A6H 9DH KT6H 8:CITB:IGDH JC6 N 8:CIT B:IGDH DIG6 [ .JEG>B>G A6H 9DH 6<J ?6H FJ: :M>HI:C :C ADH 86B7>DH 9: 9>8=6H KT6H EDG 86B7>DH ;>?DH 8DBD N6 I>:C: JC6 9: :AA6 [ ':K6CI6G 9> 8=DH 86B7>DH :C HJ 8:CIGD 8:C ITB:IGDH 8DC 9:HC>K:A EGDEDG8>DC6A 6 6B7DH A69DH =6HI6 :C8DCIG6GH: 8DC :A C>K:A 9: 9>8=6H KT6H 8DC :A D7?:ID 9: ED9:G 96G 7DB7:D 6 A6 86A O696 N JI>A>O6GA6H E6G6 :A 9:H6<X: 9: A6 B>HB6 H>C C:8:H>969 9: 8DCHIGJ>G 8JC:I6H CJ:K6H

'6 >G:88>VC ":C:G6A 9: /G6C KT6H B6C>;>:HI6 FJ: :A EG:HJEJ:HID ;DGB69D EDG :A :EID /S8C>8D 9: A6 T6 6GGD?6 JC 8DHID 9:

BQH :A 8DHID 9: A6H G:E6G68>DC:H D E6K> B:CID FJ: H:6C C:8:H6G>DH N FJ: H: A: 8DCI:HI: H> A6 .D8>:969 :HIQ 8DC;DGB: :C 8J7G>G :A >BEDGI: 9: JCD N DIG6H E6G6 EGD8:9:G 6 A6 :?:8J8>VC 9: A6 D7G6

*# $)$ $%$')*# *<= 23 <C3AB@=A ;C16=A 5/B=A S;CG :7AB=A 3A= AM 3A>3@/ ?C3 :3 /0@/< 3< 3: /<1= 23 (/<5@3 >3@= <= A/03;=A A7 3A >/@/ 2=</@ 23 :/ ACG/ = >/@/ >327@:/ >C3A 6/ B3<72= C</ >3:3/ >=@ ?CMB/;3 /::K 3A/ 5/B/ G 3: @7D/: := 238O ;/: 63@72=

% #

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

C/</8C/B=

?@2 ?2I;> 0;: .?<20@; @.: 2:;7.1; 2? A:; 12 8;? 9F? :;9/>.1;? 2: 8. 56?@;>6. 12 8. ;:=A6?@. 12 #GC60; D ?2 88.9. 9F? /62: ?2 88.9J &21>; 12 8B.>.1; 3.9;?; <;> ?A 2?<20@.0A8.> ?.8@; 2: .=A28 1H. =A2 @AB; A:. $;052 *>6?@2 2: 8. 0.882 =A2 5;D 882B. ?A :;9/>2 ?@2 >2@>.@; 2? 0;<6. 128 ;>646:.8 =A2 2C6?@6J 2: <;12> 128 0;:12 1;: !;?G J92E 12 8. ;>@6:. 28 0A.8 2?@./. <6:@.1; 2: 8F96:. 12 0;/>2 12 1;? <A84.1.? D 9216. 12 8.>4; ?;/>2 1;? 12 .:05; 12 9AD /A2: <6:028 D 16/A7; 0;>>20@; .8 1206> 12 =A62:2? ?./2: 12 2?.? 0;?.? ?@./. 4A.> :2061; 12 A: 9.>0; 12 0;:05. 12 0.>2D 0;: 28 2?0A1; 12 .>9.? 12 8B.>.1; 2: 28 >2B2>?; D 5.0H. <.>27. 0;: ;@>; 0A.1>; 64A.8 =A2 >2<>2?2: @./. 28 >2@>.@; 12 1;I. 2.@>6E 12 8. A2B. ?A 9A72> .1;>:.1; @.9/6G: 0;: 8.? .>9.? 12 8. 3.9686. 12 2?@. ?2I;>. D 2720A@.1; .8 <.>202> <;> 28 96?9; <6:028 %32@= 23 :D/@/2= % #

&* (

G6C JCDH BDC?:H 9: :HIG>8I6 D7H:GK6C8>6 G:A><>D H6 BQH 7>:C :G6C ADH 9:H86AODH ;G6C8>H86CDH 'A:<6 GDC 6 (SM>8D :C E6G6 AJ:<D H:<J>G K>6?: 6 !>A>E> C6H 'J:<D :C K>CD DIG6 :ME:9>8>VC 6A B6C9D 9: !G +:9GD 9:A (DCI: E:GD CD =67T6 9: H:G A6 WAI>B6 EJ:H AA:<6 A6 I:G8:G6 JCDH 6UDH 9:HEJSH 8DC !G (><J:A 9: /6A6K:G6 6A ;G:CI: : SHIDH JCDH H: ;J:GDC E6G6 !>A>E> C6H N DIGDH CJ:K: :C IDI6A H: FJ:96GDC :C (SM>8D 69FJ>G>:C9D A>8:C8>6 E6G6 ;JC96G 8DCK:CIDH CD HVAD :C A6 86E>I6A H>CD EDG ID9D :A E6TH

!JC96GDC :C /68J76N6 9: AD FJ: HVAD FJ:96 A6 ><A: H>6 =DN BJH:D A6 FJ: ED9:BDH K:G 6A E6H6G EDG :A E: G>;SG>8D 9DC9: H: :C8J:CIG6 A6 K>:?6 DDE:G6I>K6 9: 1:H IJ6G>D N FJ>ED *IGD AD ;JC96GDC :C A6 =DN 86AA: 9:A G

(DG6 ;G:CI: 6 A6 A6B:96 :CIG6A H>:C9D E6GI: 9:A 9: /68J76N6 8DBD +>C68DI:86 9:A K>GG:>C6ID

%7</1=B31/ D7@@37</: A7BC/2/ 3< 1/::3 @ "=@/

+>ED :H JC E:GGD FJ: =68: N6 BJ8=DH 6UDH 9:?V 9: H:G 868=DGGD

.J K>96 69JAI6 9>G:BDH FJ: 8J6C9D 8DB:CO676 HJ E:GG>IJ9 AD FJ: E6G6 CDHDIGDH :H A6 ?JK:CIJ9 IG6 76?V 68I>K6B:CI: :C :A 6:GDEJ:GID 9: A6 8>J969 8DBD 9:I:8IDG 9: 9GD<6H HVA>96H N ATFJ>96H N :G6 I6C :;:8I>KD FJ: BJ8=6H K:8:H ;J: <6A6G9DC69D 8DC B:96AA6H A6H FJ: ID96KT6 AJ8: :C HJ 8DAA6G 46 :C :A 8DCHJAIDG>D N IG6H A6H E6A67G6H EG:A>B>C6G:H :CIG: 9D8IDG N E68>:CI: 8DB>:CO6 6 :CJ B:G6G HJH EGD7A:B6H

+J:H K:GQ 9D8IDG 9: JC I>:B ED 68Q H>:CID FJ: :A DA;6ID B: ;6AA6

\ VBD AD H67: J6C9D :C ADH :FJ>E6?:H =6N N:G76 K:G9: CD B: =J:A: 6 AD FJ: :H H>CD 6 A6K6C96 >C <A:H6^ ] = 86G6N :HD :H <G6K: 4 8J6C9D :H 8D86TC6 B: =J:A: 6 I6A8D E6G6 7:7SH N 6HT EDG :A :HI>AD

4 AD BQH <G6K: 9D8IDG :H FJ: =68: JCDH 9T6H B: :C8DCIGS 8DC JC6 E: GG>I6 BDCTH>B6 JC6 K:G969:G6 BJ U:86 9: E:AJ8=: :CIDC8:H B: 68:G FJS E6G6 DA>HFJ:6GA6 8DBD =68:BDH ID9DH ADH E:GGDH N EDG ID96 G:HEJ:H I6 D7IJK: JC A6G<JTH>BD B>6666JJJ :C I6CID B: 8A6K676 HJH JU6H :C :HI6 DG:?6 K:6^ ] J:CD :H FJ: &* (

I6B7>SC 8DC;JC9>G JC6 <6I>I6 8DC JC6 E:GG6 N6 :H 9: K:G969 <G6K: * H:6 \FJ: I6B7>SC 6C96 B6A 9: A6 K>HI6 HD E6G:8: EDGFJ: 8J6C9D 8GJOD A6H 86AA:H B>GD EG>B:GD :A H:BQ;DGD E:GD 6A E6G:8:G :HI676 :C GD?D HVAD FJ: ND AD K> K:G9: HD FJ>:G: 9:8>G FJ: E69:8: JHI:9 9: 96AIDC>HBD

\,JS:::: .T :H JC6 K6G>:969 9: A6 9>H8GDB6IDEH>6 FJ: 8DCH>HI: :C CD E:G8>7>G 8>:GIDH 8DADG:H D :C 8DC ;JC9>GADH HE:8>6AB:CI: :A GD?D

] A6GD EDG :HD HJ;GD HJHIDH N 6IGD E:AADH 69:BQH 9: FJ: ADH 8D8=:H E6H6C 8DBD 7VA>9DH +DG DIG6 E6GI: 8J6C9D K:D JC 8D8=: :HI68>DC69D 8G:D FJ: HDC 6G7DA>IDH N :CIDC8:H 9:H6AD?D B> K:?><6 :C A6H GJ:96H \1: 8VBD I:C<D :HI6 E6I6 =>C8=696 N

K:C9696 EJ:H :A 9J:UD 9: JC 8D 8=: B: 6I>OV 9DH 76HIDC6ODH N B>G: 8VBD B: 9:?D :7: I:C:G BQH 8J>969D 6A 8GJO6G A6H 86AA:H D 6A<WC 9T6 AD 9:?6GQC >CH:GK>7A: 9: K:G969

\4 FJS EJ:9D =68:G 9D8IDG \ JQCIDH 6UDH I>:C: JHI:9 )D AD HS^ 'D WC>8D FJ: HS :H FJ: !DM :G6 +G:H>9:CI:^ ] >67ADH \/6CIDH 6UDH I>:C: ': =6GS JC :M6B:C E6G6 K:G H> 9: K:G969 :H JHI:9 JC E:GGD K>:?D

+>ED H: :8=6 :C :A 9>KQC :A BS 9>8D E>9: FJ: 67G6 7>:C :A =D8>8D AD :M6B>C6 9:I:C>96B:CI: N 6A ;>C6A A: 9>8: +J:H HT 6C96 JHI:9 :CIG: ADH 9D8: N IG:8: 6UDH .JH 8DAB>AADH :HIQC BJN 9:H<6HI69DH^ ] N 9D8IDG CD H67: A6 9: =J:HDH FJ: IJK: FJ: GD:G :C B> K>96 6E6GI: 9: ADH FJ: JHI:9:H CDH B6C96C 8DC :HD 9:^ DIGD E:GGD 8DC :H: =J: HD 9K>:GID FJ: N6 CD =6N H:<JG> 969 :C A6H 86AA:H FJ: CDH H686C 9: ID96H E6GI:H^ ] G:D FJ: I:C9GS FJ: >G 6 A6

6 E:9>G 6NJ96^ \,JS :H :HD EG:<JCI6 :A K:I:G>C6 G>D )J:HIG6 DB>H>VC 9: :G:8=DH 6C>CDH ] = EJ:H N6 :HIQ 8J 96 JHI:9 6 A6

N :HIDN H:<JGD FJ: A: =6GQC BQH 86HD FJ: 6 BT 8J6C9D KDN 6 A6

# \4 :HD FJ: H><C>;>86 .: IG6I6 9: CJ:HIG6 D B>H>VC 9: :G:8=DH #JB6CDH % #

A CJ:KD H>HI:B6 9: 8DBJC>86 8>VC :H: FJ: AA6B6C G:9:H HD8>6 A:H 8DBD :A IL>I:G N6 8DCH6<G6 9D EDG ADH IL>I:GDH 8DBD JC K:G7D BQH 86HI:AA6CD FJ: :A >9 N CD I6G 96GQ :C H:G 68:EI69D 9: 7J:C <G6 9D EDG A6 -

/D9D :H 8J:HI>VC 9: I>:BED CWB:GD N AJ<6G A6H IG:H G: <A6H FJ: C:8:H>I6 8JBEA>G JC C:DAD

<>HBD E6G6 I:C:G :A <JHID 9: 8D9:6G H: 8DC :A A:C<J6?: 9: :GK6CI:H AJ <6G 9DC9: H: =67A: CWB:GD 9: =67A6CI:H D =67A69DG:H N I>:B ED 9: =67A6GAD

'6 E6A67G6 8JGH> ;J: 69B>I>96 :C :C6K:CI: :H8G>7>V JC6 D7G6 6HT I>IJA696 'D 8JGH> 9:;>C> 9D :C :A 9>88>DC6G>D 8DBD A6 E:G

<B@3 3AB3 2M/ G 3: >@3A3<B3 6/G /:5C<=A 97:=A 23 2743@3<17/

#= A3 1=<4C<2/ <= 3A <7<5C</ D=:C<B/@7/ ::35/<2= /: =A>7B/:

% #

HDC6 FJ: EG:I:C9: H:G ;>C6 N :A: <6CI: H>C 8DCH:<J>GAD H: 9>8: 9: AD FJ: 8DC 6E6G>:C8>6 9: :A:<6C 8>6 D G>FJ:O6 :H G>9T8JAD N 9: B6A <JHID H: 9>8: I6B7>SC 9:A 6GI>H I6 D 9:A :H8G>IDG N 9: A6H D7G6H 8J6C9D :C K6CD EG:I:C9:C BDHIG6G G:;>C6B>:CID C ;>C FJ: H:<WC :H6H 9:;>C>8>DC:H ID9DH :C 6A<WC BDB:CID HDBDH D =:BDH H>9D BQH 8JGH>H FJ: JC G:EDAAD 8DC BDUDH ]4 FJ: C69>: 9><6 FJ: ]CJC 86 '6 H:<JC96 EDHI <J:GG6 BJC 9>6A EGDEDG8>DCV 6 A6 -

E6G6 HJ 68:EI68>VC BJ8=TH>B6H E6A67G6H FJ: 9: 6A<JC6 B6C:G6 A6H A>BE>6 GDC A:H :A>B>C6GDC :A :MIG6C?:G>H BD N FJ:96GDC BQH 86HI>O6H FJ: :A +>8=> 9: A6H ':6C9G6H

=DG6 I:C:BDH :A IJ>I:G BJN A>BE>D EJ:H A: FJ>I6BDH A6 D9>DH6 L N 6=T AD I>:C: JHI:9 A>HID E6G6 8DC?J<6G 8DBD 8DC?J<6BDH 6B6G H:G N H67:G 4 IG6H :H: E6?6GG68D K>CD :A !68:7DD8@ CD HS H> 6HT H: :H8G>7: EJ:H CDHD IGDH =J>BDH 9: ADH 9DH 8DBD 9: A6 E:HI: C:<G6 >8:C FJ: HDC 7J: CTH>BDH E6G6 A6 8DBJC>868>VC N HT AD H67:BDH E:GD I6B7>SC H6 7:BDH FJ: 6B7DH EQ?6GDH 9: BJ 8=6H 8J:CI6H H>GK:C =6HI6 E6G6 :C6BDG6GH: 86H6GH: B6I6GH: HJ>8>96GH: GD76G 8J:CI6H 76C86 G>6H^ 46 CDH FJ:96 ED8D EDG K:G E:GD 8DBD EDG 8J6AFJ>:G 86B>CD H: K6 6A ;JIJGD :H ;Q8>A >B6<>C6G AD FJ: N6 CD K:G:BDH 4 :H FJ: :;:8I>K6B:CI: ADH BD9:GCDH B: 9>DH 9: 8DBJC>868>VC HDC 6 K: 8:H 6GB6H 9: 9DH ;>ADH I6C E:A> <GDHDH FJ: :C ADH G:<TB:C:H CD 9:BD8GQI>8DH H: K: $CI:GC:I 8DBD JC6 6B:C6O6 E6G6 HJ 8DCIGDA HD 7G: A6 >C;DGB68>VC N ADH <D7>:GCDH 9>8I6IDG>6A:H I:B:C FJ: JC 9>H>9:C I: H:CI6C9D :C HJ 86H6 ;G:CI: 6 JC6 8DBEJI69DG6 E:GHDC6A H: EJ: 9: 8DCK:GI>G :C JC DEDC:CI: ED9: GDHD

&* (

-:8>7>BDH EDG >CI:GC:I JC =:G BDHD K>9:D FJ: EDG HJ 7:AA:O6 : >BEDGI6C8>6 CD G:H>HI>BDH A6 I:CI6 8>VC 9: 8DBE6GI>GAD 8DC CJ:HIGDH A:8 IDG:H .: IG6I6 9:A <><6CI:H8D BD CJB:CID 6A -:9:CIDG :C A6 8>B6 9:A 8:GGD 9:A DG8DK69D :C -TD 9: %6C:>GD JC6 D7G6 K:G969:G6B:CI: I>IQC>86 '6 :HI6IJ6 I>:C: JC6 6AIJG6 9: B:IGDH N 6 HD7G: :A C>K:A 9:A B6G .: A:K6CIV EDG HJH8G>E8>VC 9: ID9DH ADH 7G6H>A:UDH 8DA:8I6 FJ: H: =>OD :C C 8DB:CO6 GDC A6H D7G6H N H: >C6J<JGV :A 9: D8IJ7G: 9: JC 9T6 N B:H BJN H><C>;>86I>KDH E6G6 BSG>86 +:H6

&* (

BQH 9: B>A IDC:A696H N H: :BEA:V E>:9G6 ?67VC +6G6 HJ7>G ADH B6I: G>6A:H H: 8DCHIGJNV JC IG:C 4 :H 9: =68:G CDI6G FJ: :C :A I>:BED 9: A6 8DCHIGJ88>VC CD ;6AA:8>V C>C<JCD 9: ADH IG676?69DG:H N 9:BQH E:GHDC6A

C JC EG>C8>E>D H: E:CHV EDC:G :C JC6 9: HJH B6CDH JC <AD7D E:GD H: G:8=6OV A6 >9:6 E6G6 FJ: A6 <:CI: 8G:N:G6 FJ: :G6 JC 76AVC A KT9:D :H >BEG:H>DC6CI: EDG A6H ;DIDH 6S G:6H B6<CT;>86H ID96H IDB696H 9:H9: JC 6K>VC N H: K: A6 BDCJ B:CI6A ;><JG6 9: G>HID :CIG: CJ7:H N 6HT :H I>IJA69D :A K>9:D

*AB32 G/ := 278= =;= ;C3@3 B=2= 3: ;C<2= 238/<2= 23 @3A>7@/@ := 1C/: 3A :/ ;3@/ D3@2/2 %3@= :=A >=@?CLA 23 :/ ;C3@B3 A=< 7<47<7B=A /G ?C73< 6/AB/ ;C3@3 23 @7A/ %3@= <= 3@</<2= <= ;C@7O >=@ C< 3A>/A;= 23 @7A/ :=1/ /C<?C3 ;=B7D=A >/@/ 3A= AM ?C3 :=A B3<M/ G 0/AB/<B3A >C3A A3 @7O 23 B=2=A :=A 3A>/ N=:3A :=A 23 /::K G :=A 23 /1K =N/ 7AB=@7/ ?C3 B=2= := 1C3<B/ 1=;= 167A;=A/ 23 D3 17<2/2 <=A 2713 ?C3 /1/0/ 0/ 23 1=;3@ <= 2713 3: ;3<P >3@= := 7;/57</;=A G /47@;/ ?C3 1=< 0/AB/<B3 />3B7B= G ?C3 A3 D7= 23 @3>3<B3 /B/1/2= >=@ C< 23AD/<317;73<B= := ?C3 <=A 2713 ?C3 <= ;C@7O >=@ 6/;0@3 #/BC@/:;3<B3 ::/;/ @=< / B=2=A :=A ;L271=A 23 :/ 1=@B3 ?C73<3A 23A23 :C35= 3AB/0:3173@=< C</ ;3A/ 23 B@/0/8= G =B@/ 23 27K:=5= G 3<A35C72/ 27/5<=AB71/@=< ?C3 A3 B@/B/0/ 23 C< AM<1=>3 >3@= 3A= <= ?C73@3 2317@ ?C3 3AB/0/ A7<1=>/2= 1=;= /:5C </A <=B/A ;CA71/:3A A7<= ?C3 3: 23A;/G= = 23AD/<317;73< B= 3@/ A3@7= R;CG A3@7= G 1:/ @= :=A 5/:3<=A 2783@=< B=2=A / C</ 1=;= 3: >C30:= 23 C3<B3=D38C</ ?C3 :/ 1=A/ 3@/ 5@/D3 23 D3@/A G ?C3 3: @3 57= >/173<B3 3AB/0/ 3< :/A P: B7;/A G ?C3 D7AB= 3: >@3:C27= 23 C< @357= 47</: / ?C73< 6/ 0M/ ?C3 ::/;/@ C@53<B3;3<B3 3@/ /: 1C@/ 23 :/ 1=@B3 >/@/ ?C3 1=<4=@B/@/ /: @3/: >/173<B3 1=< B=2= := 1=<4=@B/0:3 3< 3AB=A 1/A=A >/@/ ?C3 3: @3/: ;=@7 0C<2= 3: AL>B7;= 23 :=A 3@</<2=A 3A>/N=:3A A3 4C3@/ 23 3AB3 ;C<2= 03<27 173<2= = ;/:27173<2= / #/>=:3O< G / AC 63@;/<= %3>3 =B3::/ % #

#:BDH :C8DCIG69D :CIG: ADH BJ8=DH E6E:A:H DAK>969DH :A 9>H8JG HD EGDCJC8>69D :C EDG :A '>8

/DG>7>D HFJ>K:A *7G:<VC :C A6 >C6J <JG68>VC 9: A6 869:B>6 9: ":C:6 AD<T6 N #:GQA9>86 (:M>86C6 +DG :C 8DCIG6GAD 9: HJBD >CI:GSH D;G:8: BDH 6 ADH A:8IDG:H 9: :HI6 G:K>HI6 ADH EQGG6;DH FJ: 8DCH>9:G6BDH BJN >CI:G:H6CI:H N6 FJ: ID9D :A 9>H8JG HD :C8>:GG6 :A E:CH6B>:CID 9:A 6J IDG N 6 A6 K:O :A 9: 6FJ:AA6 <:C:G6 8>VC 9:A C :A :CI>:GGD 9: 8696 JCD 9: ADH 8>J9696CDH GDB6CDH H: =68T6 AA: K6G A6H :;><>:H 9: HJH 6CI:E6H69DH =6HI6 AA:<6G 6 K:8:H 6 ADH I>:BEDH 9: A6 =:GD>86 A:N:C96 !G6C8>6 =6 H>9D 6E6H>DC696 9: A6 =>HIDG>6 9: HJH ;6B>A>6H N 8DCH:GK6 8J>969DH6 A6H 86GI6H N B:BDG>6H 9: HJH =DB7G:H

'D B>HBD :H $C<A6I:GG6 N :C ADH H I69DH 0C>9DH A6 <:C:6AD<T6 8DB>:C O6 6 H:G JC6 D7H:H>VC C HE6U6 A6 C68>VC 8JN6 =J:AA6 :C A6 =>HIDG>6 9:A BJC9D :H BQH EGD;JC96 BQH >BE:G:8:9:G6 N BQH CD7A: FJ: C>C <JC6 9: A6 =>HIDG>6 BD9:GC6 6WC ADH =DB7G:H BQH BD9:HIDH FJ: 6 K:

8:H CDH G:8J:G96C 6A 8676AA:GD 9:A '6O6G>AAD 9: /DGB:H HJ:A:C G:;:G>G CDH HJH EGDH6E>6H 9: G:N:H 9: <J: GG:GDH 9: ;JC969DG:H 9: EJ:7ADH D 9: H6CIDH

E6GI>G 9: CJ:HIG6 H:E6G68>VC 9: HE6U6 H: 8DCH>9:GV 8DBD 8DH6 >C9><C6 9: :HETG>IJH ;J:GI:H 9: K:G 969:GDH 9:BV8G6I6H 8J>96G 9: A6 <:C:6AD<T6 : =>HIDG>6 9: CJ:HIG6H ;6B>A>6H A >C9>K>9JD 9:7T6 K6A:G EDG HT D CD K6AT6 C696 A6 =:G:C8>6 :G6 HVAD 9: 7>:C:H :8DCVB>8DH H>C G:H EDCH67>A>969 BDG6A =68>6 A6 B:BD G>6 9: ADH E69G:H FJ: A6 9:?676C ADH 8>J9696CDH 9: JC6 G:EW7A>86 9:7T6C ><CDG6G FJ>SC:H =67T6C H>9D HJH 67J:ADH N EDG JC 8DC?JCID 9: 86J H6H G:8JGG:CI:H CDH 9>BDH 6 G:C: <6G 9: CJ:HIG6 EGDH6E>6 :HE6UDA6 N CD HVAD :A B:HI>OD 8DC JC CDK:CI6 EDG 8>:CID 9: H6C<G: >7SG>86 H>CD :A 8G>DAAD 86HI>OD 8DCH>9:G6GDC FJ: CD H: ED9T6 H:G E6IG>DI6 H>C G:C:<6G 9: HJH 6CI:E6H69DH '6 >9:6 9: E6IG>6 FJ:9V 6HT 9:7>A>I696 6A 9>KDG8>6GH: 9: A6 >9:6 9: G6O6 N 9:A 8JAID 6 CJ:HIGDH 6CI:E6H69DH

'6 ;6B>A>6 6 E6GI>G 9: 86G:

/6C IG6CFJ>A6H HDC A6H E:GHDC6H =DCG696H N I6C 68I>KDH ADH ET86 GDH FJ: BJ8=6H K:8:H :H C:8:H6G>D H:GK>GH: 9: ADH H:<JC9DH

)6EDA:VC

)D H:GT6 9:H:67A: FJ: ID9DH E:CHQG6BDH ><J6A '6 9>;:G:C8>6 9: DE>C>DC:H :H AD FJ: =68: EDH>7A: A6H 86GG:G6H 9: 8676AADH " .=6L ])D =6N C696 I6C =:GBDHD 8DBD JC6 AA6K: B>:CIG6H CD H: H:E6 AD FJ: H: 67G: (6:I:GA>C8

.> 7>:C AD 8DCH>9:G6BDH ID9DH :HI6BDH 9:HCJ9DH 9:CIGD 9: CJ:H IGDH K:HI>9DH #:>C:

(> WC>8D EA68:G 8DCH>HI>GT6 :C IG>JC;6G :C JC6H :A:88>DC:H :C FJ: H: H6A>:G6 :A:<>9D EDG B>CDGT6 9: KDIDH "J>IGN

#: A:T9D FJ: =6N IG:H :HE:8>:H 9: 6C>B6A:H FJ: 8J6C9D E6G:8: FJ: K>:C:C K6C N 8J6C9D E6G:8: FJ: K6C K>:C:C A6H BJ?:G:H ADH 9> EADBQI>8DH N ADH 86C<G:?DH +:GD AD WC>8D H:<JGD :H FJ: 9: ADH IG:H HVAD ADH 86C<G:?DH =68:C JC6 7J:C6 HDE6 ':VC 6J9T A K>:?D HVAD EDG H:G K>:?D :H >C9:H:67A: H SHI6 JC6 SED86 :C FJ: :A ?DK:C 9:H9:U6 6A K>:?D 9: I6A BD9D FJ: CD AD 8DCH>9:G6 8DBD JC >CI:GAD8JIDG <G6ID 6GD?6

)D =6N =DB7G: FJ: K>K6 H>:BEG: C> FJ: EJ:96 EG:HJB>G 9: :HID :A E:GGD K>KD K6A: BQH FJ: JC A:VC BJ:GID 8A:H>6HISH

'6 K>96 :H I6C 6B6G<6 FJ: 67G: 6 9>6G>D A6H <6C6H 9: 8DB:G

%6G9>:A +DC8:A6

% #

8>V 9: IG69>8>VC N 6GG6><D N EDG A6 AV <>86 >C;A:M>7A: 9: A6H 8DH6H N 8DCH: 8J:C8>6H 9:A 9:HEG:8>D 9: CJ:HIG6 H6C<G: 8DB:CO6BDH 6 G:C:<6G 9: CJ:HIG6 8JAIJG6 N 6 7JH86G JC6 CJ: K6 :C A6 >B>I68>VC 9: AD :MIG6C?:GD

A :HIJ9>D 9: 8VBD H: EGD9J?D :HI: ;:CVB:CD :H 9: A6 B6NDG >B EDGI6C8>6 A CDH :MEA>86GQ EDG FJS (SM>8D 9:H8:C9>V 9: HJ 86I:<DGT6 :C BSG>86 N :C :A BJC9D EG:8>H6 B:CI: 6 A6 H6OVC FJ: EGD8A6B676 HJ >C9:E:C9:C8>6 EDG FJS 9: E6TH EGDE6<69DG 9: 8JAIJG6 H: =>OD E6TH >B>I69DG 9: 8JAIJG6 EDG FJS 6 A6 K:O FJ: (SM>8D H: 9:8A6G6 HD7:G6CD H: 8DCK>GI>V :C H6ISA>I: FJ: :C AJ<6G 9: 96G AJO 7JH8V A6 9: DIGDH 6HIGDH N H: G:H><CV 6 H:G 6<:CI: EGDE6<69DG 9: >CHI>IJ8>DC:H 6?:C6H N EDG FJS :C AJ<6G 9: 6B6G AD EGDE>D CDH 9> BDH 6 69B>G6G AD :MIG6UD N 6 >BEDG I6GAD 6JCFJ: A6 :ME:G>:C8>6 9: ID9DH ADH 9T6H CDH 9:BJ:HIG: 8DC AJO B: G>9>6C6 FJ: ?6BQH ED9G:BDH 696E I6GCDH 6 :AAD N FJ: 6 A6 EDHIG: CDH 9:HIGJ>GQ

A I:GG>IDG>D :H E6GI: 9: A6 E6IG>6 E:GD CD ID96 A6 E6IG>6 A6 6AI6 6A>;DGC>6 )J:KD (SM>8D N /:M6H ;DG B6GDC E6GI: 9:A I:GG>IDG>D C68>DC6A N N6 CD HDC CJ:HIG6 E6IG>6 A6 G6O6 :H E6GI: 9: A6 E6IG>6 E:GD CD :H ID96 A6 E6IG>6 =6N EJ:7ADH 9: CJ:HIG6 B>H B6 G6O6 FJ: ;DGB6C E6IG>6H 9>;:G:C I:H :A >9>DB6 N A6 G:A><>VC N A6 8JAIJG6 I6B7>SC HDC E6GI: 9: A6 E6IG>6 E:GD CD ID96 :AA6 ID96 A6 BSG>86 HE6 UDA6 =67A6 A6 B>HB6 A:C<J6 EGD;:H6 A6 B>HB6 G:A><>VC <J6G96 A6H B>H B6H 8DHIJB7G:H E:GD :HIQ 9>K>9>96 :C K6G>6H C68>DC:H

A EG>B:G 6I6FJ: 6 A6 E6IG>6 8DC H>HI>V :C =68:GCDH 67DGG:8:G D 9:H EG:8>6G 6 CJ:HIG6 G6O6 "DAE: BDGI6A H: 9>D 6 (SM>8D :A 9T6 :C FJ: 6E6G: 8>V A6 8G::C8>6 9: FJ: ED9GT6BDH H:G E6IG>DI6H 9:HEG:8>6C9D A6 G6O6 :HE6 UDA6 )J:HIGDH :C:B><DH 8DC EGD ;JC96 E:C:IG68>VC CD 9:HE:G9>8>6C DEDGIJC>969 FJ: H: A: EG:H:CI: E6G6 ;DB:CI6G :H: 9:HEG:8>D N :A D9>D ;JC96B:CI69D 9JG6CI: A6 <J:GG6 9: >C9:E:C9:C8>6 =6 H>9D ;6KDG67A: >C <G:9>:CI: E6G6 6NJ96G 6 :H6 A67DG

&* (

:/A 23 !3H= /:;7@/<B3 3A>/N=:

/:C:BDH JC A:8IDG BJN ?DK:C )>8D 9: CDB7G: >CI:G:H69D :C A6H 8DH6H 9: HE6U6 :C AD FJ: H: G:;>: G: 6 I:B6H =>HIVG>8DH E6GI>8JA6GB:C I: AD G:;:G:CI: 6 ADH ;J:GI:H N 76AJ6G I:H FJ: HE6U6 H:B7GV EDG BS G>86 +6G6 I> )>8D :HI6 ;DGI6A:O6 FJ: =DN 8DC DIG6H BJ8=6H HDC :B7A: B6H IJGTHI>8DH 9: JC6 HE6U6 FJ:

&* (

HJED N EJ9D IG6HEA6CI6GH: 6 JC )J: KD (JC9D

6GI6<:C6 9: $C9>6H ;J: JC6 8>J 969 8A6K: :C A6 HE6U6 9:A H><AD 31$ JC6 HE6U6 :CK>9>696 EDG $C<A6I:GG6 N !G6C8>6 AD FJ: D7A><V 6 ADH :HE6 UDA:H 9: A6 6GI6<:C6 8DADB7>6C6 6 ;DGI>;>86GH: N G:8=6O6G ADH :B76I:H 9: HJH :C:B><DH A EGD8:HD 9: ;DG I>;>868>VC 9: ID96 A6 8>J969 8DB:C OV :C :A H><AD 31$ N H><J>V =6HI6 ;> C:H 9:A 31$$$ 6 ED8DH 6UDH 9: A6 >C 9:E:C9:C8>6

A EG>B:G ;J:GI: ;J: :A 9: DFJ: GVC HJG<>9D EDG A6 C:8:H>969 9: 8J 7G>G A6 :CIG696 6 A6 6=T6 9: A6H `C> B6H >8=D ;J:GI: :HIQ 9DC9: =DN H: :C8J:CIG6 :A ;J:GI: 9: .6C .:76HI>QC 9:A +6HI:A>AAD :C A6 >HA6 9: B6C<6 HIQC I6B7>SC ADH 76AJ6GI:H 9: .6CI6 6I6A>C6 N .6C 'J86H 9DC 9: =DN :H :A 67G:GD

HI6H 9:;:CH6H CD :G6C HJ;>8>:C I:H H>C :B76G<D E6G6 EGDI:<:G A6 8>J 969 FJ: 86NV 6CI: A6H >CK6H>DC:H 9: (6GITC DI: N !G6C8>H G6@: AD FJ: D7A><V 6 A6 DGDC6 HE6UDA6 6 9>H: U6G JC EGDN:8ID 9: ;DGI>;>868>VC H:G>D

G:6A>O69D EDG :A >C<:C>:GD >I6A>6CD 6J I>HI6 CIDC:AA> E6G6 8DCK:GI>G 6 6GI6<:C6 9: $C9>6H :C A6 EA6O6 B:?DG ;DGI>;>8696 9: BSG>86 .DC BJ8=DH ADH 6AJ6GI:H :C 1:G68GJO I:C:BDH JCD !J:GI:H N 6HI>AADH FJ: H: :G> <>:GDC 8DCK>GI>:C9D 6 :HI6 8>J969 :C JC6 B6G6K>AADH6 G:IGDHE:8I>K6 9: 6FJ: AADH <ADG>DHDH H><ADH :C ADH FJ: HE6 U6 8DBD :C A6H <G6C9:H D7G6H ;J: A6 EGDI6<DC>HI6 EG>C8>E6A

0C 6AB>G6CI: :HE6UDA A6H 9: ':OD K6H8D C68>9D :C +6H6?:H "J>EWO8D6 :A 9: ;:7G:GD 9: DIGDH 9>8:C 9: N BJG>V :C 6GI6<:C6 9: $C9>6H :A 9: H:EI>:B 7G: 9: G6 8D?D IJ:GID N B6C 8D AD FJ: CD ;J: V7>8: E6G6 9:GGDI6G 6 A6 ;ADI6 >C<A:H6 DBD 6AB>G6CI: ;DGBV E6GI: :C 9>K:GH6H 76I6AA6H C6 K6A:H :C :A G:>C69D 9: !:A>E: 1 DC H><J>V G:H>HI>G :A 6I6FJ: 9: A6 H:<JC 96 ;ADI6 BQH <G6C9: 9: A6 =>HIDG>6 7JFJ:H 8DC HVAD C6KTDH :C 6GI6<:C6 9: $C9>6H

DCI6G HJ K>96 G:FJ:G>GT6 JC6 EGD 9J88>VC 8>C:B6ID<GQ;>86 6 AD =DAANLDD9:CH:

% #

<B6=<G 23 "3::=

0C6 BJ?:G CDI67A:B:CI: 8DGEJ A:CI6 :CIGV :C A6 D;>8>C6 9:A G:<>HIGD 8>K>A 8:GG6C9D IG6H 9: HT A6 EJ:GI6 8DC JC EDGI6OD 9:H8DBJC6A

\(: =6 :ME:9>9D JHI:9 :HI6 A> 8:C8>6 E6G6 86H6GB: 8DC %68D7 %68D7HDC D CD A: EG:<JCIV 6A ;JC 8>DC6G>D B>:CIG6H 6GGD?676 K>DA:CI6 B:CI: HD7G: A6 B:H6 :A 9D8JB:CID

A ;JC8>DC6G>D :M6B>CV 6I:CI6 B:CI: :A 9D8JB:CID 6 IG6KSH 9: HJH <GJ:H6H <6;6H N 9>?D .T H:UDG6 8G:D FJ: AD =: :ME:9>9D ND \+DG FJS +DGFJ: :A I>ED =6 =J>9D G:HEDC 9>V A6 BJ?:G N FJ>:GD H67:G FJS K6 6 =68:G JHI:9 6A G:HE:8ID

JC ?DK:C FJ: H: EG:E6G676 E6G6 :A H68:G9D8>D A: 9>?:GDC FJ: AD FJ: A6 <:CI: :HE:G676 9: JC H68:G 9DI: :H FJ: H:E6 :H8J8=6G HJH E: C6H .>BEA:B:CI: :H8J8=6G :H8J 8=6G N :H8J8=6G /6A K:O CD H:6 86 E6O :C D86H>DC:H 9: EG:HI6G JC6 6NJ96 :;>86O E:GD H>:BEG: EJ:9: :H8J8=6G N 8DBEG:C9:G : BD9D FJ: :A ?DK:C 9:8>9>V FJ: H:GT6 :HD AD FJ: >76 6 =68:G 8J6C9D AD 9:HI>C6 G6C 6 HJ EG>B:G6 E6GGDFJ>6

#68>:C9D 86HD DB>HD 9: HJ E:GHDC6A G:EJ<C6C8>6 H: D7A><V 6 HT B>HBD 6 :H8J8=6G :H8J8=6G N :H 8J8=6G^ N A6 <:CI: H: BDHIG676 BJN 6<G69:8>96 +:GD 6A<D CD H6 7T6 FJS E6G:8T6 ;6AA6G +DG :?:BEAD

HDAT6 68J9>G JC6 6C8>6C6 FJ: H: FJ: ?676 H>:BEG: 9: 9DADG 9: 867:O6

JSCI:B: FJS :H AD FJ: A: EG:D8J E6 A: >CK>I676 6B67A:B:CI: :A H6 8:G9DI: 4 :AA6 =67A676 =67A676 N =67A676 B>:CIG6H :A H68:G9DI: :H 8J8=676 :H8J8=676 N :H8J8=676^ 4 H>:BEG: E6G:8T6 ;JC8>DC6G EDGFJ: 6A 867D 9: JC G6ID KDAKT6 A6 6C8>6C6 N A: 9:8T6 :HIJK: 6FJT =68: JC6 =DG6 E69G: 8DC JC IG: B:C9D 9DADG 9: 867:O6 N N6 CD B: 9J:A: CD B: 9J:A: N CD B: 9J:A:

'D HS AD HS N AD HS EDGFJ: 6=D G6 :H 6 BT 6 FJ>:C A: 9J:A: E:CH6 76 :A H68:G9DI:

$76 6 8:A:7G6GH: JC6 <G6C ;>:HI6 :C :A EJ:7AD N 8696 JCD 9: ADH =67> I6CI:H I:CT6 FJ: 8DCIG>7J>G K:GI>:C9D

JC6 7DI:AA6 9: K>CD :C JC <><6CI:H8D 76GG>A J6C9D AA:<V A6 =DG6 9: 8D B:CO6G :A 76CFJ:I: N H: 67G>V A6 :HE>I6 9:A 76GG>A AD FJ: H6A>V 9: SHI: ;J: 6<J6 4 :H FJ: JCD 9: ADH =67> I6CI:H 9:A EJ:7AD =67T6 E:CH69D .> =:8=D JC6 7DI:AA6 9: 6<J6 :C :H: :CDGB: 76GG>A C69>: AD 69K:GI>GQ 'D FJ: CD E:CHV :H FJ: 6 ID9DH :C :A EJ:7AD EJ9>:G6 D8JGGTGH:A:H A6 B>H B6 >9:6

DBD B: 9>?>HI: FJ: FJ:GT6H 86B7>6G 9: 6>G:H

% #

&* (

#68: 6UDH H: 7JH8676 E6G6 :HI6 8:A:7G68>VC JC AJ<6G 69:8J69D N 6A ;>C 9JG6CI: 6UDH H: 8:A:7GV :C A6H >CHI6A68>DC:H 9:EDGI>K6H FJ: :A :CIGD "6AA:<D I>:C: :C /AQ=J68 A >C6J<JG6GH: :A .6AVC -D?D H: 86B7>V 6 SHI: BQH 8:G86 9: ID9DH N 9: ID9D

A 9DB>C<D 9:A E6H69D D8IJ7G: 9: :HI: H: AA:KV 6 :;:8ID :C :A H:UDG>6A .6AVC 9: ADH 6C9>A:H :A T6 9:A (S9>8D FJ: A6 .D8>: 969 9: :C:;>8:C8>6 HE6UDA6 N A6 HD8>68>VC (S9>86 9:A #DHE>I6A HE6UDA A:H D;G:8: 8696 6UD +DG 8:A:7G6GH: :C :HI6 ;:8=6 CD EJ9> BDH EJ7A>86G A6H 8DCH><J>:CI:H ;DID<G6;T6H 9:A 68ID :C :HI: CWB:GD N6 FJ: SHI: :HI676 :C EG:CH6 E:GD :C :A EGVM>BD 96G:BDH >C;DGB68>VC <GQ;>86 9:A :K:CID

H>HI>BDH 8DBD AD K:C>BDH =68>:C9D 9:H9: =68: 6UDH 6 :HI: D7A><69D 6<6H6?D 6A 8J:GED ;68JAI6I>KD 9: CJ:HIGD #DHE>I6A HE6UDA :C :A :H8:C6G>D >9:6A :A :HEA:C9DGDHD :CIGD 9: DCK:C8>DC:H >C>6 "DCOQA:O

-:8DCD8:G 8DC JC T6 :A IG676?D 9: ADH BS9>8DH :H H>C 9J96 9:HEJSH 9: ADH 9:9>869DH 6 A6 B69G: N 6A +69G: :A BQH ?JHI>;>86 9D :A FJ: B:G:8: H:G ;:HI:?69D EDGFJ: :A BS9>8D :H :C 8>:GID BD9D JC ED8D E69G: N B69G: 9: 8696 E68>:CI: 8JNDH B6A:H :C8DB>:C96 6 HJ BS9>8D EDGFJ: :C SA 8DC;T6 H I6B7>SC JC ED8D 8DC;:HDG N6 FJ: A: 8DC;:H6BDH 8DH6H FJ: CD 8DCI6BDH C> 6 A6 EGDE>6 ;6B>A>6 .> :A H68:G9DI: 96 A6 67HDAJ8>VC 6 CJ:HIGDH E:869DH FJ: 7>:C K>HID HDC ADH B6A:H 9:A 6AB6 :A BS9>8D CDH 96 G:8:I6H E6G6 CJ:HIGDH 68=6 FJ:H ;TH>8DH FJ: K>:C:C 6 H:G ADH E:869DH 9:A 8J:GED AADH ADH BS9> 8DH HDC I6B7>SC JC ED8D B:8QC>8DH EJ:H CDH D;G:8:C EGVI:H>H 9: G:86B7>DH E6G6 86B>C6G E6G6 K:G E6G6 DTG E6G6 FJ: ED96BDH G:HE> G6G EDG AD B:CDH =6HI6 FJ: :A .JBD #68:9DG CDH 9><6 ] 6HI6 =6HI6 6FJT C> JC E6HD BQH C ;>C FJ: =:BDH 8DCK>K>9D JC 9T6 BQH 9:9>869D 6 CJ:HIGDH FJ: G>9DH 69B>G69DH N G:HE:I69DH <6A:CDH 8DC JC6 :M8:A:CI: 8DB>96 :C JC 6B7>:CI: H6CD 6A:<G: N 9>H;GJI6C9D K>SC9DA:H :ME:8I6CI:H :C A6 G>;6 9: A6 FJ: C>C<JCD H6A: H>C EG:B>D

&* (

% #

C HJH (:BDG>6H ?JK:C>A:H 9: JC K>:?D BS9>8D :A ;6BDHD 8ATC>8D 9DA; &JHHB6JA 8J:C I6 HJH :ME:G>:C8>6H 8DBD BS9>8D GJG6A :C &6C9:GC :CIG: ADH 6UDH

N

'6 8DCHJAI6 GJG6A :M><: BQH 9: A6 ;J:GO6 N 9:A 6GI: 9: ADH BS9>8DH FJ: A6 8DCHJAI6 :C A6 8>J969 .D7G: ID9D :C A6H BDCI6U6H H: EG:8>H6C E:GHDC6H ;J:GI:H N G:H>HI:CI:H FJ: HDEDGI:C IG676?DH ;6I><DHDH 9: 9T6 N 9: CD8=: 6HT 8DBD 8J6AFJ>:G 86B 7>D 9: I:BE:G6IJG6 A BS9>8D GJG6A I>:C: FJ: 9DB>C6G ID9DH ADH 86BEDH 9: A6 B:9>8>C6 >CI:GC6 8DC I6CI6 ;6 8>A>969 8DBD A6 :MI:GC6 D A6 6H>HI:C 8>6 6 JC E6GID C ADH 86HDH BQH JG<:CI:H 6JCFJ: H:6C ADH BQH 8DBEA>869DH CD I>:C: 6 C69>: FJ: A: 8J7G6 A6H :HE6A96H />:C: FJ: 68 IJ6G 9:8>9>96B:CI: 76?D HJ EGDE>6 G:HEDCH67>A>969 8DBD JC HDA969D

:C JC EJ:HID HDA>I6G>D :C I>:GG6H :C: B><6H DBD 8ATC>8D B: =6 H:GK>9D 9: BJ8=D E6H6G EDG :H6 :H8J:A6^ CIG: ADH H:AKQI>8DH :H 9:8>G ADH =67>I6CI:H 9: A6 .:AK6 C:<G6 FJ: K>K:C :C A6H BDCI6U6H <DO6 9: EG:HI><>D A6 ;6GB68>6 8JG6I>K6 6 76H: 9: :M8G:B:CIDH 9:A 8>:CIT;>8D +6JAA>C> 9:A 6UD D B:?DG 9>8=D A6H >CBJC9>8>6H FJ: G:8DB>:C96 0C =:GG:GD 9: JC EJ:7AD 9: A6H BDCI6 U6H G:8:I6 6 JC :C;:GBD 8DC D8AJ H>VC >CI:HI>C6A N 8VA>8D B>H:G:G: H: <WC :A EG>C8>E>D 9: #6=C:B6CC^ 8D8:G :HI>SG8DA 9: 8676AAD HI:G8JH :FJ>CJB N IDB6G SHI: CD 9: ;DG B6 =DB:DEQI>86 H>CD 6ADEQI>86 ]4 :H: :H86AD;G>6CI: 7G:76?: :H 7:7> 9D^ C ;:7G:GD 9: C>:K6 I6B 7>SC =>:A6 6H> CD E6H6 JC6 HDA6 CD8=: H>C FJ: B: 9:HE>:GI: A6 86B E6C>AA6 9: 86H6 E6G6 :MI:C9:G G:8:

2=:4 CAA;/C:

I6H D E6G6 K>H>I6G :C;:GBDH I6CID :C A6 8>J969 8DBD :C ADH EJ:7ADH^ J6C9D JI>A>OD :A 8D8=: ND B>HBD I:C<D FJ: =68:G 9: 8D8=:GD A ;>C6A B> 8676AAD N6 CD 76HI6 E6G6 :A 8D 8=: C:8:H>I676 DIGD

ADH H>HI:B6H 9: A6 SED86 9>;>:G:C 8DCH>9:G67A:B:CI: A6H EGQ8I>86H 8JG6I>K6H 8D>C8>9:C :C 6A<JCDH 6HE:8IDH HI: CDB7G: I6C G6GD :H JC BSID9D E6G6 8JG6G :C 'DH :;:8IDH 8JG6I>KDH H>C >CK>H>7A: N 9: :H6 ;DGB6 JCD ;:GB:969:H CD ID96H 9:H9: AJ:<D E:GD 6A<JC6H HJ: H: EG:D8JE6 B:CDH '6H ;J:GO6H :HE>G>IJ6A:H H: IG6H A:C 8JG6GH: A CDB7G: 8DBD 86H> ID9DH 7>:C 9:A <G>: B>I:C H>C C:8:H>969 9: 6<:CI:H >CI:GB:9>6G>DH D H:6 <D >6IGDH BS9>8D N :G6 JC6 :MEG:H>VC 8DBWC FJ: FJ: C69>: K>:C: 6 CDH 9>8: 6 8J6A:H :HETG>IJH I:C:BDH :C<AD7676 A6H 9>;:G:CI:H ;DGB6H 9:A E:CH6B>:CID N 68 FJ: 68J9>G EDGFJ: A6H ;J:GO6H 8JG6I>K6H EJ:9: 68IJ6G 6 9>HI6C8>6 E:GD CD EDG 8DGG:D :A:8IGVC>8D N 6E6G:8:C IJ68>VC BQ<>8DH 9:HI>C69DH 6 A6 D7 8DBD C68:C A6H EA6CI6H IG6H HJ EJ I:C8>VC 9: A6 H6AJ9 6 A6 8JG68>VC 9: IG:;688>VC :C A6 I>:GG6 ],JS K:CI6 A6H :C;:GB:969:H N 6A G:;J:GOD 9: A6 ?6

;J:GO6 K>I6A HT 6 ;>C6A:H 9: A6 67JGG> C6AD<T6H ;JC96B:CI6A:H :C 96 CI><X:969 N :C :A 6A:<G: -:C68> IG: DIG6H :C A6 I:DGT6 9: A6 H><C6IJ B>:CID H: G:A68>DC6C ADH 9>K:GI>9DH G6 FJ: HDC 9:8>H>K6H I6B7>SC E6G6 8DC8:EIDH 8>:CIT;>8DH :CIG: ADH FJ: A6 N6IGDB6<>6 8DBD EDG :?:BEAD =6N FJ: 9:HI686G :C EG>B:G AJ<6G A6 :A 8DG6A GD?D EJ:9: ;G:C6G A6 ESG9> 6HIGDAD<T6 N6 K: JHI:9 FJ: =DN I:C: 96 9: A6 H6C<G: GD?6 4 H:<J>BDH BDH 6HIGVAD<DH 6 EDGG>AAD 9:BQH A:N:C9D /TE>8D 9: A6H EGQ8I>86H 8J :C A6 EGQ8I>86 BS9>86 H: 96 JC IG69> G6I>K6H BQ<>86H HDC ADH G>IDH 8DBD 8>VC FJ: H: G:BDCI6 6 A6 CI><X:969 H: EG68I>86C :C A6 B:9>8>C6 EDEJ N FJ: H><J: K><:CI: :C CJ:HIGDH G: A6G N =6C 9: G:6A>O6GH: :C 9:I:G KDAJ8>DC6G>DH 9T6H :C A6 FJ: 9>:GDC :C B>C69DH BDB:CIDH 8DBD EDG AA6B6G B:9>8>C6 EDEJA6G >C8AJN:C :?:BEAD :C AJC6 AA:C6 6 A6 B:9>6 9D 9:H9: AJ:<D A6 O6GO6E6GG>AA6 N CD8=: JC ?J:K:H FJ: =6<6 HDA N :A :A IS 9: I>A6 E6G6 ADH C:GK>DHDH 4 :A 86;S I:C<6 C6I6^ D :C 9:I:GB>C6 86HD :H FJ: :HD HT I>:C: FJ: K:G 8DC 9DH AJ<6G:H 8DBD JC 8:B:CI:G>D A6 N6IGD9:BDCDAD<T6 N A6 N6IGDI:DAD<T6

5@7>>/ D=< #3BB3A637; 76?D JC E>CD^ E:H6G 9: FJ: A6H 76H:H I:VG>86H N % #

&* (

'6 )6I>DC6A :GDC6JI>8H 6C9 HE68: 9B>C>IG6I>DC CD HVAD CDH 6HDB7G6 8DC HJH BQH 9: IG:>C I6 B>A >CK:CIDH EG>C8>E6AB:CI: ADH FJ: I>:C:C FJ: K:G 8DC :A :HE68>D H>CD I6B7>SC 8DC ADH FJ: =6C H:G K>9D N H>GK:C E6G6 A6 H6AJ9 N :A 7>:C K>K>G 9: FJ>:C:H ID96KT6 :H I6BDH :C :HI: 7SA>8D EA6C:I6

0HI:9 86H> H:<JGD FJ: 6A<J C6 K:O =6 JH69D O6E6IDH I:C>H E6G6 8DGG:G :C A6H B6U6C6H EDG :A E6GFJ: 9: A6 8DADC>6 J:CD EJ:H H:E6 FJ: A6H EA6CI>AA6H FJ: A: D;G: 8:C 8DBD9>969 :HIQC 9>H:U696H N 9:H6GGDAA696H 6 E6GI>G 9: A6H 7D I6H JI>A>O696H EDG ADH EG>B:GDH =J B6CDH FJ: E>H6GDC A6 AJC6

4 :H: EJG>;>869DG 9: 6<J6 FJ: I>:C: JHI:9 A6 8D8>C6 9: HJ 86H6 I6B7>SC EGD8:9: 9: A6 I:8CDAD<T6 JI>A>O696 E6G6 EJG>;>86G :A 6<J6 FJ: AA:K6C 6 7DG9D A6H C6K:H :HE68>6 A:H

]4 FJS 9:8>G 9: AD FJ: A6 ) .

6NJ9V :C A6 B:9>8>C6 DBD :?:BEAD I:C:BDH :A H>HI:B6 9: BDCDIDG>O68>VC 86G9T686 9:H6

;0:3;/ 23 :/ # (

GGDAA69D E6G6 8DCIGDA6G :A G>IBD 86G 9T68D 9: ADH 8=D;:G:H :C ADH KJ: ADH :HE68>6A:H

4 ADH 7DB7:GDH =SGD:H 9: K:G 969 8J:CI6C 6=DG6 <G68>6H 6 A6 ) . 8DC JC H>HI:B6 9: G:HE> G68>VC 8DBD :A FJ: AA:K6C :C HJ BD8=>A6 ADH 6HIGDC6JI6H N CD 7DB76H BDADIDK 8DBD :C A6H HJN6H AA:K6C CJ:HIGDH KQC96ADH 9:

8696 9T6 "G68>6H 6 :H: >CK:CID H: EJ9D G:9J8>G :C JC :A CWB: GD 9: 7DB7:GDH =DHE>I6A>O69DH EDG >C=6A68>VC 9: =JBD

4 8A6GD I6B7>SC I:C:BDH DIGDH >CK:CIDH 7J:CTH>BDH 8DBD ADH 7DI:H H6AK6K>96H 6CI>KJ:A8D ADH 9:I:8IDG:H 9: =JBD A6H 6A6G B6H 6CI>GGD7DH N EDG 6=T 69:A6C I:

+DG :HI: H>HI:B6 ED9:BDH 6H: <JG6GCDH 9: FJ: 6TC N 7:A HT :G6C =>?DH 9: 9QC N K6 EJ:H H> A: FJ>I6 BDH 6 9QC A6 H:<JC96 6 9: HJ CDB7G: I:C:BDH :A ) ] J:CD :HD 8G::BDH DH 7>VAD<DH >CH><C:H :AADH JCD >C<ASH N DIGD :HI69DJC>9:CH: #6GGN DBEIDC G>8@ N %6B:H :L:N 26IHDC G:HE:8I>K6B:CI: ;J:GDC ADH 9:H8J7G>9DG:H 9: A6 :HE>G6A 26IHDC G>8@ D H:6 AD FJ: 6H:<JG6BDH HD7G: 6FJ:AA6 ;6B>A>6 9:A +6G6THD 4 :C :H6 :HE>G6A CDH K:BDH B:I>9DH ID9DH ADH H:G:H =JB6CDH 'D FJ: CD H67:BDH :H H> D8JGG: AD B>HBD 8DC ADH IDGDH ADH 8676AADH ADH E:GGDH^ A6H <DADC9G>C6H^ &* (

/;3A ,/BA=< G @/<17A @719

% #

%=@ '=1M= %L@3H 73H %A71=B3@/>3CB/ @=17= >3@3H 63A>/<=: 1=;

:H9: A6 6CI><X:969 H: =6 =6 7A69D 9: :M8:HDH EDG AD FJ: CD :H 68IJ6A =67A6G 9: A6H 69>88>DC:H I6 A:H 8DBD 6A 6A8D=DA FJ: :H :A EG>C8> E6A EGD7A:B6 :C CJ:HIGD E6TH 6A I6 768D D 6 A6H 9GD<6H C> I6BED8D 9:A 8DCHJBD 9: 8DB>96 :A JHD 9: A6 I:A:K>H>VC 67JHD 9: IDB6 9: B:9> 86B:CIDH 9: EGQ8I>86 9: :?:G8>8>D 6A IG676?D 6A H:MD 6A ?J:<D :CIG: DIG6H AD FJ: HT :H G:A6I>K6B:CI: CJ: KD HDC 6A<JC6H 69>88>DC:H I6A:H 8DBD 6A JHD 9: >CI:GC:I N G:9:H HD 8>6A:H 9:7>9D 6 A6 <G6C ;68>A>969 9: 688:HD HD7G: ID9D 8DC 6ED ND 9: 8:AJA6G:H FJ: 6;:8I6 EG>C 8>E6AB:CI: 6 ?VK:C:H N 9:H<G6 8>696B:CI: 6 C>UDH

A >CI:GC:I : >C8AJHD A6H G:9:H HD8>6A:H =DN :C 9T6 HDC JC6 =: GG6B>:CI6 9: <G6C JI>A>969 E:GD :A EGD7A:B6 G69>86 :C :A B6A JHD 9: SHI6H 6 I6A <G69D FJ: A6H E:G HDC6H :C G:JC>DC:H :H8J:A6H N AJ<6G:H 9: IG676?D 9:?6C 9: 6I:C 9:G 9: G:HEDC9:G 6 9>A><:C8>6H N 9: :HI6G G:6AB:CI: 8DC DIG6 E:G HDC6 EDG G:K>H6G A6H CJ:K6H CD I>;>868>DC:H 8DGG:DH :A:8IGVC> 8DH ?J<6G :C ATC:6 K:G K>9:DH D 8=6I:6G D7H:H>DCQC9DH: N <:C: G6C9D JC6 69>88>VC 67: B:C 8>DC6G FJ: H: :BEA:6 :A ISGB>CD +=J77>C< E6G6 =68:G G:;:G:C8>6 6A 68ID 9: 9:?6G 9: EG:HI6G 6I:C 8>VC 6 A6 E:GHDC6 8DC A6 FJ: H: :HIQ 8DCK>K>:C9D EDG EG:HI6G 6I:C8>VC 6A 8:AJA6G D 6 JC <69<:I 9>HEDH>I>KD :A:8IGVC>8D

'6H 69>88>DC:H 6JCFJ: ID96H HDC 9>;:G:CI:H N I6B7>SC A6H E:GHD C6H G69>86C :C CD ED9:G I:C:G 8DC IGDA N :C A6 9:E:C9:C8>6 HD7G: :A D7 ?:ID D 68I>K>969 :C HT N6 FJ: <:C:G6 EA68:G D H6I>H;688>VC N H>C CDI6GAD 6;:8I6 A6 H6AJ9 ;TH>86 N B:CI6A AA: % #

K6C9D 6 8DCH:8J:C8>6H C:<6I>K6H :C ID9DH ADH 6HE:8IDH JCFJ: :C :A 86HD 9: A6 69>88>VC 6 A6 I:8CDAD<T6 H: EJ:9: HDAJ8>DC6G =68>:C9D JHD BD9:G69D N 8DCIGDA69D 9: :AA6 .>C :B76G<D CD 9:?6 9: H:G JC6 69>88>VC 9: B:CDG >BEDGI6C8>6 N6 FJ: CJ:HIGD 8:G:7GD 6CI: 8J6AFJ>:G 69>88>VC EG:H:CI6 6CDB6AT6H :C A6H 8DC:M>DC:H 9: A6H ;>7G6H C:GK>DH6H :C :A QG:6 9:A EGD8:H6B>:CID :BD 8>DC6A

'6H 86JH6H HDC BJAI>;68IDG>6A:H

6A<JC6H HDC :HIGSH ED86 8DCI:C 8>VC ;6B>A>6G KJAC:G67>A>969 76?6 6JID:HI>B6 >C;AJ:C8>6 9:A B:9>D C: 8:H>969:H >CH6I>H;:8=6H C:8:H>969 9: <G6I>;>868>VC 9:H:DH 9: 8DBE:C H68>VC H:CI>B>:CID 9: K68TD 6JH:C 8>6 9: B:I6H 9:EG:H>VC ;6AI6 9: AT B>I:H :CIG: DIG6H

+D9:BDH 9:I:8I6G JC6 69>88>VC 8J6C9D CJ:HIG6 ;JC8>DC6A>969 H: K: 6;:8I696 :H 9:8>G 8J6C9D >CI:G;:G>

BDH 8DC CJ:HIG6H 9:BQH 68I>K>96 9:H 8DBD EDG :?:BEAD 76?6G G:C9> B>:CID :C :A IG676?D D 76?6G 9: 86A>;> 868>DC:H : >CI:GSH :C A6 :H8J:A6 E:CH6G 86H> ID9D :A I>:BED N :C 8J6A FJ>:G BDB:CID :C :A D7?:ID D 68I>K> 969 69>8I>K6 >GG>I67>A>969 BD9>;>86G A6H =DG6H 9:A HJ:UD 9>HIG6:GH: D 9:H 8J>96G DIG6H 68I>K>969:H C:<68>VC B:CI>G6H N 6>HA6B>:CID HDAD EDG B:C8>DC6G 6A<JC6H

'6H 69>88>DC:H H: EJ:9:C EG: K:C>G :H 9: <G6C 6EDND FJ: ADH E6 9G:H 6H:HDG:C N HJE:GK>H:C 6 ADH C>UDH 8DC ;>C:H :9J86I>KDH FJ: 8DBE6GI6C I>:BED ?JCIDH FJ: :M>H I6 JC6 8DBJC>868>VC 86G6 6 86G6 FJ: 9:H6GGDAA:C ATB>I:H N FJ: 9:H6 GGDAA:C =67>A>969:H HD8>6A:H -:6A>O6G DIG6H 68I>K>969:H I6A:H 8DBD 9:EDG I: D 68I>K>969:H 8JAIJG6A:H IG6 76?6G :C :FJ>ED H6A>G N 8DCK>K>G 8DC 6B><DH ;6B>A>6G:H !DB:C I6G A6 6JID:HI>B6 A6 6H:GI>K>969 N A6 G:HEDCH67>A>969 )D 9:?6G CDH >C;AJ>G EDG ADH 9:BQH C> EDG :A B:9>D FJ: CDH AA:K:C 6 8DC 9J8I6H C:<6I>K6H DCI6G 8DC B:I6H N D7?:I>KDH EG:C9:G 6 I:C:G IDA:G6C8>6 6 A6 ;GJHIG68>VC N 6 IDB6G 9:8>H>DC:H H K>I6A :C :A 86HD 9: A6 69>88>VC 6 >CI:GC:I A>B>I6G A6H =DG6H 9: JHD 9: <69<:IH FJ: CD HJE: G:C =DG6H 6A 9T6

C 8J6CID 6A IG6I6B>:CID 9: A6H 69>88>DC:H :H K>I6A E: 9>G 6NJ96 9: EGD;:H>DC6A:H I6CID 9: BS9>8DH EH>FJ>6IG6H 8DBD 9: EH>8DI:G6E:JI6H

9:BQH 9: A6 67HI>C:C8>6 :H 9: JI>A>969 IG676?6G :C :A B6 C:?D 9: >BEJAH>K>969 6H>HI>G 6 I6AA: G:H 9: EG:K:C8>VC 9: G:86T96H N 8D CD8:G A6H H>IJ68>DC:H 9: G>:H<D (6 C:?D 9:A I>:BED A>7G: /G676?6G 8DC A6 BDI>K68>VC 8DC8>:CI>O6G HD7G: A6H 8DCH:8J:C8>6H EDH>I>K6H N 8DC A6 C: <68>VC 9: A6 9:E:C9:C8>6 (D9>;>86G A6H 9>HIDGH>DC:H 8D<C>I>K6H :H8J 7G>G <6C6C8>6H H:8JC96G>6H N IG676 ?6G :C :A EGD7A:B6 9: G6TO 6 EGD;JC 9>969

&* (

>. @.: 9.8 3;@J4>.3; =A2 >2 @>.@J A: 9A2>@; D 82 ?.86J 9;B6 1; : A: 2C.92: H4.92 A? @21 N12 =AG 2?@F 0;9<A2?@. 8. <J8B;>. 8 .8A9:; :; ?./2 0;:@2?@.> ,.9;? . B2> 3H72?2 A?@21 /62: N'AG 0A2><; 5.02 2?@.88.> 8. <J8B;>. 8 0A2><; 12 .>@6882>H. A: @6<; .0A?.1; <;> B.4; 82 <24A:@. 28 7A2E N 2?12 0AF: 1; 2?@F A?@21 ?6: @>./.7; 2?12 =A2 9A>6J 96 9.1>2 N- =AG 21.1 @2:H. A?@21 0A.: 1; 9A>6J ?A 9.1>2 6:0; 92?2? : A:. B2:@.:688. 4A/2>:.

92:@.8 )2I;>6@. 5.02 A:. 5;>. =A2 2?@;D 128.:@2 12 2?@. B2:@. :688. - D; 882B; .I;? =A2 2?@;D 12@>F? D :; 92 =A27; : A: 5;@28 12 0.<A80; 82 <24A:@.: .8 29<82.1; N$; @62 :2: A?@212? 12 5AG?<21 2?@2 .I; .=A28 ?2I;> 9AD 4;>1; =A2 B6:; 28 .I; <.?.1; $; <A169;? @2 :2>82 <;>=A2 8.? .A@;>61.12? ?2 ;<;:1>H.: N&;> =AG Q &;> =AG 2?@F 9A2>@; +: 2820@;> . ?A 16<A@.1; #2 167; A?@21 =A2 0A.:1; 3A2>. 16<A @.1; <;1>H. <216>82 8; =A2 =A6?62 >. )H 2? 062>@; <2>; :; 82 1672 ?6 ?2 8; 1.>H. +: 6:16B61A; 0;9<.>202 .:@2 A: @>6/A:.8 12 7A?@606. .0A?.1; 12 5./2> 9.@.1; . ?A 9A72> . 4;8 <2? )A 9A72> 82 1602 28 <>2?6 12:@2 5. ?A0A9/61; . 8;? 9.

8;? @>.@;? 12 A?@21 )2I;> 7A2E >2?<;:12 8.0J:60.92:@2 28 .0A ?.1; D. 82 @2:H. .1B2>@61; =A2 5./H. 12 9;>6> . 96? 9.:;?

N :@;:02? <;> =AG 8. 9.@J A? @21 . <.@.1.? ;? 9G160;? 16?0A@2: 8. 2: 32>921.1 =A2 <.1202 28 2:32> 9; 28 0A.8 82? 2?0A05. -; .36> &* (

9; =A2 2? 362/>2 @63;612. O$; ?2I;> N'AG :; O-. 8; B2>F A?@21 .8 5.02>82 8. .A@;<?6. +:. .9. 12 0.?. .0./. 12 >206/6> A:. :A2B. ?6>B62:@. =AH @;9.9;? 28 12?.DA:; . 8.?

A2:; ?2I;>. ?6 . 2?. 5;>. :; 92 52 82B.:@.1; :; 92 2?<2>2: <.>. 29<2E.> : 28 >2?@.A>.:@2 N*.>1.>F 9A05; 2: 8824.> 8. ?;<. .? @.:@2 ? 12 @;>@A4.P

'6 HD8>68>VC !6GB68SJI>86 (:M>86C6 >CHI>IJNV :A +G:B>D )68>D C6A 9: >:C8>6H !6GB68SJI>86H G ':DEDA9D -TD 9: A6 'DO6 CI:H 9: 8DCI>CJ6G H:U6A6BDH FJ: CJ:HIGD EG>B:G H>AD HE6UDA 9: A6H 86 AA:H 9:A )>UD +:G9>9D )D H: 8DBEGV 6 A6 /:HI6B:CI6GT6 9:A G -TD 9: A6 'DO6

'6 8>I696 HD8>68>VC DIDG<V EDG EG>B:G6 D86H>VC 6 ADH ,JTB>8DH %DHS N %J6C .:CDH>QC "6K6GG: :A EG>B:G EG:B>D >CHI>IJ>9D EDG HJ E:G B6C:CI: A67DG :C A6H A67DG:H 9:A 86BED ;6GB68SJI>8D A IG676?D N :A >CI:GSH :C ADH 6K6C8:H :C :H6 E6GI: 9: A6 B:9>8>C6 ADH AA:KV 6 8DCH IGJ>G :C (SM>8D ADH 68G:9>I69DH '67DG6IDG>DH .:CDH>QC .

N H><J:C H>:C9D ADH EG:;:G>9DH EDG A6 86A>969 9: ADH B:9>86B:CIDH FJ: EGD9J 8:C 6HT 8DBD A6 !:GB>8 .

9: 1 A6 EG>B:G6 :BEG:H6 B:M>86C6 9:9>8696 6 A6 :A67DG68>VC 9: 6CI>7>VI>8DH EDG ;:GB:CI68>VC :HI6 WAI>B6 6HD8>696 8DC JC6 EG:HI><>DH6 ;>GB6 >I6A>6C6 AT9:G :C :A G6BD

FJ:A HJ8:HD 9:?V 67>:GID :A >CI:GSH 9: DIG6H :BEG:H6H >CI:<G6C9D A6H BQH BD9:GC6H I:8CDAD<T6H 6 ID9DH ADH EGD8:HDH 9: EGD9J88>VC AD<G6C9D >C8G:B:CI6G A6 86A>969 9: ADH EGD9J8IDH

C/< G =AL (3<=A7K< /D/@@3

% #

>,+. ( )" 6*& 4 2&)+/ "* 2&2+ 4 0+!+ +(+. :)+ "3,".0+/ 0. ' !+."/ ) *"' * (+/ "-1&,+/ ." & &!+/ , . /1 &.(+/ ( + 0 2+ ,&/+ !" ( *&! ! (+ 8"5 ,+. )"!&+ !" 1* $&$ *0"/ $.; ("/ %1 &". /".2&!+ )14 &"* (+/ # . +*"/ , . % ". /1/ ,&.6)&!"/ )+*1)"*0 ( $.; "/ 1* *0+ ( )" 6 *& * ( / #+0+$. #8 / 2")+/ (+/ 0. ' !+."/ ) *&,1( . 1*+ !" (+/ 0 *0+/ , . 0+/ !"( "-1&,+ !-1&.&!+ , . +.+* .& :)+ (+ /1 "* 4 :)+ "*0. ,+. "( 2"*0 * ( +)+ !& "* -1" "*0.

1* 0 ( "!.+ ,+. /1 / = * (6/0&) -1" (+/ /+ & !+/ !"/ +*+5 * "/0" 0&,+ !"

0. '+/ 4 "/0+/ "-1&,+/ -1" ($;* !8 &+/ *+ (+ -1&". ("/ / (2"* !" /1/ ) ("/

% #

&* (

! $(% ) ! (% J$!

"G68>6H IG>AADC:H N IG>AADC:H 9: K:8:H 6 B> >K>C6 +GDK>9:C8>6 +69G: #>?D N HETG>IJ .6CID EDG H6AK6GB: A6 K>96

,J>:GD :MI:C9:G B> BQH EGD;JC9D 6<G69:8> B>:CID 6 ID9D :A E:GHDC6A 9: /:G6E>6 $CI:CH>K6 9: A6 0C>969 DGDC6G>6 9:A #DHE>I6A HE6UDA EDG ID96H HJH 6I:C8>DC:H HJH 6BEA>DH N :;:8I>KDH 8DCD8>B>:CIDH H>C8:GDH E6G6 8DCB><D FJ: =6C H6AK69D B> K>96

#DN B: :C8J:CIGD BJ8=D B:?DG <G68>6H 6 ADH 8J>969DH 9:A G 1>K:GDH G -:7JA G +SG:O /6<A: N G .DA6C6

ID9DH N 6 ID9D :A E:GHDC6A B>H BQH :MEG:H> K6H <G68>6H 9:H:QC9DA:H A6 "ADG>6 I:GC6 6 JHI:9:H N 6 HJH ;6B>A>6G:H

>DH ADH 7:C9><6 'DH AA:KD :C B> 8DG6OVC :I:GC6B:CI:

(6<96A:C6 9: >DH N 9: >DH

%DHS !:GC6C9D !G6C8D "DCOQA:O .6A6H

($)$./-* ' .0+- ( *-/ %0./$ $ ' ) $*)

>J969 9: (SM>8D 9: H:EI>:B7G: 9:

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

+DG I6CID ;:A>8>ID 6A #DHE>I6A HE6UDA N :C :HE:8>6A 6 HJ QG:6 9: >GJ<T6 B7JA6IDG>6 EDG I:C:G E:GHDC6A I6C 86A> ;>869D N 9>HEJ:HID 6 7G>C96G JC 7J:C H:GK>8>D 6 ADH E68>:C I:H N EDG :HI6 KT6 6<G69:8:G 6 A6H E:GHDC6H 6CI:H B:C8>D C696H HJ 7J:C IG6ID N 8DCH>9:G696 6I:C8>VC

I:CI6B:CI:

(SM>8D !

9: H:EI>:B7G: 9:

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

]FJ: >DH A6 AA:C: 9: 7:C9>8>DC:H H>B>HBD FJ>H>SG6BDH 6 IG6KSH 9: JHI:9 6<G69:8:G 6 ID96H A6H E:GHDC6H 9: A6 .6A6 +AQ8>9D DB>C<D FJ: IJ K>:GDC BJ:HIG6H 9: 86G>UD =68>6 :AA6 6 FJ>:C:H A: IJK>:GDC I6CI6 E68>:C8>6 8J6C9D ;J: C:8:H6G>D )DH G:;:G>BDH 6 ADH 9D8IDG:H '6 G6 +SG:O 5:6 :A G 0GGJI>6 A6 G6 (>AAQC A6 G6 (DG6A:H A6 G6 +6B:A6 N DIGDH A:C>I6 FJ: 6NJ9V :C ID9D AD FJ: EJ9D ID96H A6H :C;:GB:G6H FJ: H>:BEG: A6 6I:C9>:GDC 8DC 86G>UD N BJ8=6 E68>:C8>6 6 JG:A>D 6 *H86G 6 K6G>HID N 6 !G:99N FJ: 8DC HJ6K>969 N 86G>UD A6 BDKT6C 9:A H>AAVC 6 HJ 86B6 N K>8:K:GH6 D A6 AA:K6 76C :C H>AA6 9: GJ:96H ;J:G6 9: A6 H6A6 N :C ADH WAI>BDH B:H:H 6NJ9676C 6 BDK:GA6 :C HJ 86B6 E6G6 FJ: CD H: A: =>8>:G6C :H86G6H

)D I:C:BDH 8DC FJS E6<6G 6 A6H 1DAJCI6G>6H FJ: CDH =>8>:GDC :A ;6KDG 9: EDC:GA: JC6 8J>969DG6 6 CJ:HIG6 6B><6 A6 .G6 )6I6A>6 JC6 7J:CTH>B6 BJ?:G FJ: :HIJKD 6A E:C 9>:CI: 8DC AD B:?DG 9: :AA6 E6G6 =68:GA: B:CDH 9DADGDHDH HJH WAI>BDH B:H:H (6GT6 -DH6 CJ:HIG6 6B><6 CD I:CT6 8DC FJS E6<6G JC6 8J>969DG6 N A6 C:8:H>I676 BJ8=TH>BD

<G69:8:BDH BJ8=D 6 ID96H A6H KDAJCI6G>6H 9: :H: #DHE> I6A FJ: CDH 8DCHI6 =68:C JC6 <G6C A67DG HD8>6A 8DC ADH FJ: B:CDH I>:C:C N BQH C:8:H>I6C

H>B>HBD CJ:HIGD BQH EGD;JC9D 6<G69:8>B>:CID 6 A6H (69G:H $CSH N C6 (6GT6 FJ: :C ID9D BDB:CID 9: C:8:H> 969 6EDN6GDC 6 CJ:HIG6 6B><6 N I6B7>SC 6 HJH 6B>HI69:H

.>:BEG: :C8DCIG6BDH :C :AA6H :A 6EDND FJ: C:8:H>IQ76 BDH A +69G: %DHS FJ: H>:BEG: :HIJKD 6A E:C9>:CI: 9: :AA6 N FJ: ED8D 6CI:H 9: BDG>G A: 9>D :A WAI>BD .68G6B:CID N A: 8DC8:9>V A6 $C9JA<:C8>6 +A:C6G>6

+DG WAI>BD I6B7>SC 6<G69:8:BDH 6A '>8 #S8IDG !ADG:H 9:A %JGT9>8D 9: A6 :C:;>8:C8>6 HE6UDA6 EDGFJ: 6 E:H6G 9: FJ: (6GT6 -DH6 N6 CD I:CT6 8DC FJS E6<6G A6 9:J96 FJ: I:CT6 8DC :A #DHE>I6A N FJ: HVAD ED9T6 6EDGI6G :A BDCID 9: HJ E:CH>VC E6G6 H:<J>G 6H>A696 :C A6 .6A6 +AQ8>9D DB>C <D CD A6 BDK>V 9: HJ 8J6GID N H: A: 9>D 6I:C8>VC 69:8J696 =6HI6 :A ;>C6A

I:CI6B:CI: # " 'T " ) #$' J '" # ! ' $( ! +T# 8 8 E '>8 #S8IDG ( !ADG:H #>96A<D -:EG:H:CI6CI: ':<6A .D8>:969 9: :C:;>8:C8>6 HE6UDA6 $

+

&* (

% #

(/< @7ABO0/: 23 :/A /A/A G :/ :6/;0@/ 23 @/</2/

% #

&* (