323
CBS PhD nr 06-2010 Marianne Stang Våland · A5 OMSLAG.indd 1 13/01/10 15.17

montage af 6-2010 Marianne - Netværket Ledelse i … DCT EL *44/ *4#/ 8IBU XF UBML BCPVU XIFO XF UBML BCPVU TQBDF &OE 6TFS 1BSUJDJQBUJPO CFUXFFO 1SPDFTTFT PG 0SHBOJ[BUJPOBM BOE "SDIJUFDUVSBM

Embed Size (px)

Citation preview

CBS PhD nr 06-2010 Marianne Stang Våland · A5 OMSLAG.indd 1 13/01/10 15.17

What we talk about when we talk about space

Marianne Stang Våland

What we talk about when we talk about space:End User Participation between Processes of Organizational and Architectural Design

CBS / Copenhagen Business School

Doctoral School of Organisation and Management Studies

PhD Series 6.2010

Marianne Stang VålandWhat we talk about when we talk about space:End User Participation between Processes of Organizational and Architectural Design

1st edition 2010PhD Series 6.2010

© The Author

ISBN: 978-87-593-8416-9ISSN: 0906-6934

The Doctoral School of Organisation and Management Studies (OMS) is an interdisciplinary research environment at Copenhagen Business School for PhD students working on theoretical and empirical themes related to the organisation and management of private, public and voluntary organisations

All rights reserved.No parts of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage or retrieval system, without permission in writing from the publisher.

Marianne Stang VålandWhat we talk about when we talk about space:End User Participation between Processes of Organizational and Architectural Design

1st edition 2010PhD Series 6.2010

© The Author

ISBN: 978-87-593-8416-9ISSN: 0906-6934

The Doctoral School of Organisation and Management Studies (OMS) is an interdisciplinary research environment at Copenhagen Business School for PhD students working on theoretical and empirical themes related to the organisation and management of private, public and voluntary organisations

All rights reserved.No parts of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage or retrieval system, without permission in writing from the publisher.

!""

!"#$%#$&

"

!"#$%&#'((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((')!

&*%!+#"',-'."/%012#3'#03'45#"'!%"+1&1!%+1.0'10'%"&*1+#&+4"%6'3#51/0'!".&#55#5((((((((((((((((((((((((((((((((((((((((((((((((((((((('7!

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

-.*/0&')$(1"%23"4'%3$%#.5"5#$/"++++++++++++++++++++++++++++++++++++++++++++++++++++++"!!!

3$(")63&"4.&%#*#4.%#'$1"."7.8"%'"6%)(8"%23"5#$/"+++++++++++++++++++"!9!

&363.&*2":)36%#'$".$(".64#&.%#'$"+++++++++++++++++++++++++++++++++++++++++++++++++"!;!

#<45#*.%#'$6".$("'44'&%)$#%#36"='&"""""""""""""""""""'&0.$#>.%#'$.5".$(".&*2#%3*%)&.5"(36#0$"++++++++++++++++++++++++++++++"!?!

%23"3<4#&#*.5"*'$%3@%"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!A!

%23"6%&)*%)&3"'="%23"%236#6"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"99!

&*%!+#"'8-'+*#'61+#"%+4"#'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((('89!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9;!

63*%#'$"9.1"64.*3"#$"'&0.$#>.%#'$"6%)(#36"++++++++++++++++++++++++++++++++++"9B!

63*%#'$"9-1"63$63<./#$0"#$"'&0.$#>.%#'$"++++++++++++++++++++++++++++++++++++"CC!

63*%#'$"9*1".*%'&D$3%7'&/"%23'&8"+++++++++++++++++++++++++++++++++++++++++++++++++";E!

&*%!+#"':-';#+*.3.6./<'((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((('9=!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++";?!

%23"<3%2'('5'0#*.5".44&'.*21"."03$3&.5"')%5#$3"++++++++++++++";,!

%23"&363.&*2"(36#0$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"F!!

9""

.44&'.*2#$0"%23"=#35("++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"F?!

4.&%#*#4.$%"'-63&G.%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"FA!

#$%3&G#376"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"BF!

('*)<3$%"<.%3&#.5"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"?E!

%23"3<4#&#*.5"*.636"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"?;!

3%2#*6".$("G.5#(#%8"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"?A!

&*%!+#"'9-'+*#'%"&*1+#&+'!".$#551.0-'''''''''''''''''''''''''''''''''''''!%5+'%03'$4+4"#'&*%66#0/#5'((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((('7,!

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

%23"G#%&)G#.$"23&#%.031"."4&'=366#'$"53=%"-37#5(3&3("++++++",;!

%23"*'$%3<4'&.&8".&*2#%3*%1""%23"*)&&3$%"6#%).%#'$"+++++++",,!

*2.$036".23.("='&"%23".&*2#%3*%"4&'=366#'$1"""""""""""""""""5''/#$0"='&"%23"$37".44&'.*2"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++"AA!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!EC!

&*%!+#"'>-'+*#'+.?0'*%66'!".@#&+'((((((((((((((((((((((((((((((((((((((((((((((((',A>!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!EF!

5#&+1.0'>%-'+*#'!%"+1&1!%+1.0'%&+1B1+1#5'10''''''''''''''''''''''''''''+*#'+.?0'*%66'!".@#&+'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((',A7!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!E,!

."63:)3$%#.5"')%5#$3"'="%23"*3$%&.5"3G3$%6"++++++++++++++++++++++++++"!EA!

%23"4&'*366"(36#0$3&H6".44&'.*2"+++++++++++++++++++++++++++++++++++++++++++++++++++"!!C!

5#&+1.0'>C-'+*#'.!#0'.$$1&#'6%<.4+'10'''''''''''''''''''''''''''''''''''''''+*#'+.?0'*%66'!".@#&+'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((',88!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!99!

%23"'43$"5.8')%".$("%23"4.&%#*#4.%#'$1"""""""""""""""""""""""""*3$%&.5"3G3$%6".$("*2.553$036"++++++++++++++++++++++++++++++++++++++++++++++++++++"!9;!

C""

'$"2'7"%23"'43$"5.8')%".$("%23""""""""""""""""""""""""""""4.&%#*#4.%#'$"73&3"#$%&'()*3("%'"%23"6%.=="++++++++++++++++++++++++++"!C!!

6%.-#5#>#$0"%23".44&'.*2"%'"%23"'43$"5.8')%1"""""""""""""""""""=')&"6%346"'="4.&%#*#4.%#'$"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!;E!

%23"=')&"6%346".6"(3G35'4<3$%6"#$"."""""""""""""""""""""""""""""""""""""""4&'*366"'="6%&.%30#*"*2.$03"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!;B!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!;A!

5#&+1.0'>&-'+*#'#0+"%0&#'&.40+#"'''''''''''''''''''''''''''''''''''''''''''''''''''10'+*#'+.?0'*%66'!".@#&+'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((',>:!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!FC!

*2.&5'%%3H6"6%'&81"&3(36#0$#$0"%23""""""""""""""""""""""""""""""""""3$%&.$*3"*')$%3&"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!FF!

('*)<3$%"<.%3&#.5".6"<3.$6"%'"#$=5)3$*3"43&*34%#'$I(36#0$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!FA!

*2.&5'%%3H6"%&.$65.%#'$"'="%23"6/3%*21"""""""""""""""""""""""""""""""""""""""""""""'43$"G6+"*5'63("++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!B9!

*2.&5'%%3H6".&0)<3$%1"%23"4&'0&.<"'="""""""""""""""""""""""6)44'&%3&6".$("'-6%&)*%3&6"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!?E!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!,!!

&*%!+#"')-'+*#';1D%3.'*.45#'!".@#&+'((((((((((((((((((((((((((((((((((((((((',79!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!,;!

5#&+1.0')%-'%0'10+".34&+1.0'+.'%"D1+#;%''''''''''''''''''''''''''''''''%03'+.'+*#';1D%3.'*.45#'!".@#&+'(((((((((((((((((((((((((((((((((((((((((((((((((',7=!

%23"=#&<"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!,?!

%7'"(36#0$"4&.*%#*361"%23"*5.66#*.5"""""""""""""""""""""""""""""""""""""""""".$("%23"-&#*'5.03"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"!,,!

%23"<#/.('"2')63"4&'J3*%1"""""""""""""""""""""""""""""""""""""""""""""""""""3@45'&#$0"'&0.$#>3("3$(")63&"4.&%#*#4.%#'$"+++++++++++++++++++++++++"!AF!

;""

5#&+1.0')C-'&.66%C."%+1.0'C#+?##0'%"&*1+#&+5''''''''''''''''''''%03'!".&#55'3#51/0#"5-'%++#;!+5'%+'5#05#;%D10/'(((((((((((('8A9!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9E;!

%23"<#/.('"2')63"4&'J3*%1"4&'*36636"""""""""""""""""""""""""""""""""""""""""""""'="'&0.$#>.%#'$.5"63$63<./#$0"++++++++++++++++++++++++++++++++++++++++++++++++++++"9EF!

.$")$=.<#5#.&".44&'.*2"%'"%23""""""""""""""""""""""""""""""""

.&*2#%3*%)&.5"(36#0$"4&'*366"++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9!E!

%23"*&'66D(#6*#45#$.&8"*2.553$03"++++++++++++++++++++++++++++++++++++++++++++++++"9!,!

%23"4&'*366"(36#0$3&H6".44&'.*2"+++++++++++++++++++++++++++++++++++++++++++++++++++"99F!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9CE!

5#&+1.0')&-'3#51/010/'+*#';1D%3.'*.45#-'''''''''''''''''''''''''''''''''+*#'*#61E'%5'%'&1"&46%+10/'"#$#"#0&#'((((((((((((((((((((((((((((((((((((((('8::!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9CC!

=&'<"4.&%#*#4.%#'$"%'"(36#0$"4&'*3661""""""""""""""""""""""""""""""""""""=&'<"<3%.42'&"%'"&3=3&3$*3"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9C;!

%23"J')&$38"'="%23"235#@1"=&'<"/$'753(03"""""""""""""""""""""""""""""62.&#$0"'$7.&(6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9C?!

%23"*2.#$"'=".66'*#.%#'$6"&3G#6#%3(1"7#%2')%"*'$%#$).%#'$K"%23"&3=3&3$*3"-&3./6"+++++++++++++++++++++++++++++++++++++++++++"9FC!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9F,!

&*%!+#"'=-'315&4551.0'%03'&.0&6451.0'(((((((((((((((((((((((((((((((((((((((('8),!

#$%&'()*%#'$"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9B!!

4.&%#*#4.%#'$"3$2.$*36"%.5/".$(".&%#*)5.%#'$"+++++++++++++++++++"9BB!

4.&%#*#4.%#'$".55'76"='&""""""""""""""""""""""""""""""""""""""""""""""""""""(#645.*3<3$%".$("6%.-#5#%8"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9B,!

4.&%#*#4.%#'$".6"."<3.$6"%'"*'D(36#0$#$0""""""""""""""""""""""""""""""""""G6+"4&3D<3(#.%3("(36#0$"6'5)%#'$6"++++++++++++++++++++++++++++++++++++++++++++++++"9?E!

6%'&8"<.%%3&61"36%.-5#62#$0"."4'#$%"'="&3=3&3$*3"+++++++++++++"9?C!

%23"5.$0).03"%&.4"++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9?F!

F""

%23"*5#3$%".6"."<'G#$0"%.&03%"++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9?B!

%23"(#.*2&'$#*"G6+"%23"68$*2&'$#*"(36#0$"5'0#*"++++++++++++++++++"9?A!

."%&#.$053"'="*2.$03"3G3$%6"%2.%""""""""""""""""""""""""""""""""""""""""""""""""<.8".==3*%"-'%2"(36#0$"4&'*36636"++++++++++++++++++++++++++++++++++++++++++++++++"9,;!

*5'6#$0"*'<<3$%6"+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++"9,B!

"#$#"#0&#5'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((('877!

3%05D'"#54;F'(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((':A8!

#0/615*'54;;%"<'((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((':A>!

!

" &

B""

'(%)*!%&

'L"MNONPQR"STTQMUSLM"UL"VW"XPSYNMMUSLQR"TQPNNP"#"ZQON"TSVN"QTPSMM"QPTZU[NT[\PQR"

]NMU^L"QM"QL"SXXSP[\LU[W" [S"NLZQLTN"QL]"QP[UT\RQ[N"SP^QLU_Q[USLQR"XPQT[UTN+"%ZNMN"

N`XNPUNLTNM"ZQON"QRaQWM" RNY["VN"aU[Z" [ZN" MNLMN" [ZQ[" [ZN" MXQ[UQR" YPQVNaSPb"SY" QL"

SP^QLU_Q[USL"VU^Z[" ZQON" M[PQ[N^UT" XS[NL[UQR1" QM" Q" XSMMUcRN" ONZUTRN" [S" ]UMT\MMK" QL]"

[ZNPNcW"MZQXN"QL]"PNMZQXN"QL"SP^QLU_Q[USLQR"]NMU^L+"-QMN]"SL"[ZUM"cQMUT"UL[NPNM[K"#"

ULU[UQ[N]"Q"M[\]W"[ZQ["TS\R]"XSMMUcRW"N`XRSPN"U[M"XS[NL[UQR+"%ZN"XPNRUVULQPW"PNM\R["SY"

[ZN"N`XRSPQ[USL"UM"[ZUM"[ZNMUM+""

"

#L" [ZN" M[\]WK" #" ZQON" [QbNL" QL" NVXUPUTQR" XSUL[" SY" ]NXQP[\PN" cW" N`XRSPUL^" [aS"

TSL[NVXSPQPW"c\UR]UL^"XPSdNT[M1"[ZN"%SaL"2QRR"SY"2URRNPe]"<\LUTUXQRU[WK"LSP[Z"SY"

*SXNLZQ^NLK"QL]"QRMS"(QLUMZ"QPTZU[NT[\PN"YUPVK".PbU[NVQHM"SaL"SYYUTN"]SVUTURN"UL"

fPNM[Q]K" *SXNLZQ^NL+" =PSV" VW" RSL^U[\]ULQR" NL^Q^NVNL[" aU[Z" [ZN" ]NMU^L"

]NONRSXVNL[M" UL" [ZNMN" [aS"XPSdNT[M" #" YS\L]" [ZQ[" LS[" SLRW"]U]" [ZN" ULOSRONVNL[" UL"

[ZNMN" MXQ[UQR" ]NMU^L" ]UMT\MMUSLM" QYYNT[" SP^QLU_Q[USLQR" QMXNT[M" aU[ZUL" [ZN" TRUNL["

SP^QLU_Q[USL+" .RMSK" [ZN" TRUNL[" SP^QLU_Q[USLHM" M\cM[QL[UQR" NL^Q^NVNL[" UL" [ZNMN"

XPSTNMMNM"ZQ]"Q"LS[UTNQcRN" UVXQT["SL" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"=PSV"ZNPN"

^PNa"[ZN"U]NQ"SY"!"#$%&'()*$%&$+,-.%/0'1$++2K"QM"U["aQM"TZQPQT[NPU_N]"cW"SLN"SY"[ZN"

M[\]WHM"TNL[PQR"ULYSPVQL[M+""

"

%ZN"[aS"XPSdNT[M"ZQON"XPSOU]N]"VN"aU[Z"QL"SXXSP[\LU[W"[S"[QbN"Q"^RUVXMN"UL[S"

[ZN" UVXRUTQ[USLMK" XSMMUcURU[UNM" QL]" UVXSMMUcURU[UNM" [ZQ[" [ZN" ]S\cRN" ]NMU^L" XPSTNMM"

VU^Z[" ZSR]+".M" [ZN" YSRRSaUL^" [N`["aURR" \LYSR]K" U[" ZQM" cPS\^Z["VN" [S" [ZN" YUNR]" SY"

QPTZU[NT[\PN" QL]" [S" Q" YNa" SY" [ZN" MU^LUYUTQL[" TZQRRNL^NM" [ZQ[" [ZN" QPTZU[NT[\PQR"

XPSYNMMUSL" UM" T\PPNL[RW" cNUL^" YQTN]" aU[Zg" [S" N[ZLS^PQXZW" QL]" [ZN" WN[" MSVNaZQ["

?""

\LTRNQP" QPNQ"SY"XPSTNMM"]NMU^LK" QL]" [S" [ZN"]UYYUT\R[UNM"SY" QXXRWUL^" MXQ[UQR" LS[USLM"

UL[S"VQLQ^NVNL[+""

"

." ^PNQ[" L\VcNP" SY" XNSXRN" ZQON" XPSOU]N]" VN" aU[Z" Q" M\cM[QL[UQR" QVS\L[" SY"

ULYSPVQ[USL" [ZPS\^ZS\[" [ZN" M[\]W+" 3QTZ" QL]" NONPW" SLN" ZQM" PNMXSL]N]" [S" VW"

h\NM[USLM" QL]" PNh\NM[M" aU[Z" ^PNQ[" ^NLNPSMU[WK" QL]" S\P" UL[NPQT[USLM" ZQON" QRaQWM"

cPS\^Z[" YSP[Z" ]UMT\MMUSLM" QL]" XPS]\TN]" h\NM[USLM" [ZQ[" ZQON" cNNL" QL" ULOQR\QcRN"

^\U]N" QL]" M\XXSP[" UL" [ZN" XPS^PNMMUSL" SY" [ZUM" aSPb+" #" QV" XQP[UT\RQPRW" ^PQ[NY\R" [S"

(SP[ZN" /NUMK" 0U[[N" .L]NPMNLK" 6ePNL" %ZSP\XK" 4NP" =NR][ZQ\MK" J\RUN" &NULQ\K"<N[[N"

&e][LNMK" %ZSVQM" -QL^" JNMXNPMNLK" <N[[N" /diPM^QQP]K" 'RN" 5QL^OQ]K" 6ePNL"

-UM^QQP]K"/UPM[NL"(QLUNRMK"2QRR^PUV\P"%ZSP" 6U^\P]MMSLK"<Q]M"<QL]P\X"2QLMNLK"

.L]NPM"(QVM^QQP]"6ePNLMNLK"<UbbNR"-NN]ZSRVK"-PU[["-RUTZYNR]["(QOU]MNLK"<N[[N"

.cPQZQVMNLK" 4NP" =UMTZNP" <UbbNRMNLK" <SP[NL" <W^UL]K" 0RNL" 3RVcib" QL]" 0NP[U"

.`NRMNL+""

"

#"aS\R]"QRMS"RUbN"[S"[ZQLb"VW"TSRRNQ^\NM"YSP"[ZNUP"UVXSP[QL["ULX\[K"M\XXSP["QL]"

XQ[UNLTNK" UL" XQP[UT\RQP"/PUM[UQL"/PNULNPK"<QP[UL"/SPLcNP^NPK" 5UMN" J\M[NMNLK" 6U^LN"

GUbbNRMeK" $QLLQ" <UbD<NWNPK" *ZQPRS[[N" /PNLbK" (QLUNR" %SY[" JNLMNLK" 4N[NP" 2SRV"

JQTScMNLK"4Q\R"(\"0QWK"6\MQLLN"-STZ"7QR]SPY" QL]"*ZPUM[UQL"=PQLbNR+"=ULQRRWK" #"

QV"UL]Nc[N]"[S"[ZN"YSRRSaUL^"XNSXRN"YSP"ZQOUL^"NL^Q^N]"UL"[ZUM"XPSTNMM"UL"M\TZ"QL"

ULMXUPUL^" QL]" TSLM[P\T[UON" aQW1" JSZQLLN" 3PUbMNLK" '\QYQ" &UQLK" 7ULLUN" <NPN[N"

-QPPN[[K" 5S[[N" =SPTZZQVVNPK" VW" ^PQL]VS[ZNP" 5URRNcQ" 6[QL^" QL]"VW" MUM[NP" %SLN"

6[QL^"GjRQL]+"#"QV"ONPW"^PQ[NY\R+"

"

*SXNLZQ^NLK"JQL\QPW"9E!E"

<QPUQLLN"6[QL^"GjRQL]""

" '

,""

"#$%&'(!)*!+(,$-./'0!'-0!12'(!

%$(&.".%$&.+-!.-!

$("#.&'"&1($3!0'2.,-!

%(+"'22'2!

"!3%&'.4"% "#,.5% "#$0$%60$%76.8%/$'/*$9%:#'%#6;$%8$"%$</$0,$.1$&% "#6"%8'(%16.%

61"(6**8%765$%6%&'()*$%&$+,-.%/0'1$++%=>?%:,"#%+'7$%5,.&%'@%,."$0/*68%'0%+8.$0-8%)$":$$.%"#$7A%=>?%3%#6;$%)$1'7$%6:60$%'@%#':%;,"6*%,"%,.%@61"%,+9%.'"%"'%@0$$B$%@'0%,.+"6.1$% "#$% '0-6.,B6",'.6*% &$;$*'/7$."% 6+% 6% -,;$.% /0$1'.&,",'.% 6.&% "#$.%+()+$C($."*8% &,+1(++% +/61$9% )("% "'% 5$$/% (/% 6.% ,."$061",'.% =)$":$$.% "#$% ":'%/0'1$++$+?%,.%"#$%1'.+,&$06",'.+A2%%

+#$(",-!$+"#&

#L" [ZN" h\S[Q[USL" QcSONK" [ZN" YSPVNP" VQLQ^UL^" ]UPNT[SP" SY" TQMN" SP^QLU_Q[USL"2URRNPe]"<\LUTUXQRU[W"M\^^NM[M"QL"\L[PQ]U[USLQR"RULb"cN[aNNL"[aS"]NMU^L"XPSTNMMNM"[ZQ[" ZQON" [PQ]U[USLQRRW" cNNL" SP^QLU_N]" QM" MNXQPQ[N+" #[" UM" [ZN" RULb" cN[aNNL" [ZN"SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" PNMXNT[UONRW+" #L" ZUM"SP^QLU_Q[USL1"Q"V\LUTUXQRU[W"Q]VULUM[PQ[USLK" [ZN"NM[QcRUMZVNL["SY"Q"LNa"[SaL"ZQRR"ZQM"cNNL"QXXRUN]"QM"Q"XQP["SY" [ZN" YPQVNaSPb" [S"M\XXSP["Q"TSVXRN`"SP^QLU_Q[USLQR"TZQL^N"XPSTNMM"k"Q"VNP^NP"cN[aNNL"[aS"V\LUTUXQR"\LU[M+"""'L" Q" ^NLNPQR" RNONRK" aN" VU^Z[" MQW" [ZQ[" SP^QLU_Q[USLQR" XPQT[UTN" [QbNM" XRQTN" UL"

MSVN" bUL]" SY" MXQ[UQR" MN[[UL^" lYSP" N`QVXRN" XZWMUTQR" SP" OUP[\QRm" QL]" [ZQ["SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"YNQ[\PNM"QPN"[Z\M"LNTNMMQPURW"TSLLNT[N]+"-\["

A""

QM%&$+,-.%/0'1$++$+K"[ZN"[aS"ZQON"[PQ]U[USLQRRW"[QbNL"XRQTN"MNh\NL[UQRRW"QL]"[ZNPNcW"UL"MNXQPQ[N"XPSTNMMNM+"#L"Q"TSLONL[USLQR"c\UR]UL^"XPSdNT[K" [ZN"TRUNL["YUPM[" U]NL[UYUNM"QMXNT[M"SY" [ZN"SP^QLU_Q[USLHM"QT[UOU[UNMK" UL"SP]NP" [S"]NMTPUcN"MSVN"SY" [ZN"h\QRU[UNM"[ZQ[" [ZN" YSP[ZTSVUL^" c\UR]UL^" UM" M\XXSMN]" [S" QTTSVVS]Q[N+" %ZUM" U]NL[UYUTQ[USL"XPSTNMM" VU^Z[" cN" MQU]" [S" cN" XQP[" SY" QL" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMM+" %ZNMN"U]NL[UYUN]"LNN]M"QPN" [ZNL"QP[UT\RQ[N]" [S" YSPV"Q"cPUNY"SY" PNh\UPNVNL[MK"^UONL" [S" [ZN"QPTZU[NT["QM"Q"XSUL["SY"]NXQP[\PN"UL"[ZN"XPSTNMM"SY"]NMU^LUL^+"-QMN]"SL"[ZN"cPUNYK"[ZN"QPTZU[NT[" Q[[NVX[M" [S" ]NONRSX" Q" ]PQY[" YSP" Q" ]NMU^L" MSR\[USL" [ZQ[" YU[M" [ZN" TRUNL[HM"PNh\UPNVNL[M+" %ZUM" UM" [ZN" YUPM[" XQP[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" #L" [ZUM"M[P\T[\PNK"[ZN"cPUNY"PNXPNMNL[M"[ZN"RULb"cN[aNNL"TRUNL["QL]"QPTZU[NT[+"#["VU^Z["[Z\M"cN"MQU]"[S"TSLLNT["QL]"MNXQPQ[N"cW"[ZN"MQVN"VNQLM+"""7ZNL" [ZN" XPSXSMQR" YSP" Q" ]NMU^L" MSR\[USL" UM" QTTNX[N]" cW" [ZN" TRUNL[K" QL" SY[NL"

TSVXRN`"]NONRSXVNL["XPSTNMM"cN^ULM+"2NPNK"TRUNL["QL]"QPTZU[NT["\L]NP[QbN"Q"PQL^N"SY" LN^S[UQ[USLMK" UL" SP]NP" YSP" [ZN" QPTZU[NT[\PQR" ]NMU^L" [S" Y\P[ZNP" ]NONRSX" QL]" [ZN"c\UR]UL^"XPSdNT["[S"XPS^PNMM+"'LTN"[ZN"c\UR]UL^"UM"NONL[\QRRW"NM[QcRUMZN]K"[ZN"TRUNL["SP^QLU_Q[USL" Q[[NVX[M" [S" VQbN" Q" YU[" cN[aNNL" [ZN" XPSTNMMNM" [ZQ[" TSLM[U[\[N" [ZNUP"XPQT[UTN"QL]"[ZN"SXXSP[\LU[UNM"[ZQ["[ZN"c\UR]UL^"ZSR]M+"%ZNPNcWK"[ZN"SP^QLU_Q[USLQR"]NMU^L" XPSTNMM" VSONM" UL[S" QLS[ZNP" M[Q^N" aZNL" [ZN" SP^QLU_Q[USL"VSONM" SL[S" [ZN"LNa"XPNVUMNM+"""%ZN" MNh\NLTN" TQL" cN" S\[RULN]" QM" YSRRSaM1" %ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMM"

M[QP[M" XPUSP" [S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 'L" [ZN" cQMUM" SY" [ZN" cPUNYK" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"NVNP^NM"QL]"[ZN"c\UR]UL^"XPSdNT["NOSRONM+"=ULQRRWK"[ZN"c\UR]UL^" UM" ULZQcU[N]K" QL]" UL" MSVN" aQWM" aN" VU^Z[" MQW" [ZQ[" [ZN" SP^QLU_Q[USLQR"]NMU^L"XPSTNMM"TSL[UL\NMK"SP"XNPZQXM"PQ[ZNP"M[QP[M"QLNaK"aU[Z"PNYNPNLTN"[S"[ZN"LNa"MXQ[UQR"YPQVNaSPb+"%ZN"RULb"cN[aNNL"[ZN"XPSTNMMNM"TQL"[Z\M"cN"MQU]"[S"N`UM[K"c\["[ZN"[aS"XPSTNMMNM"ZQON"cNNL"SP^QLU_N]"UL"Q"MNXQPQ[N"M[P\T[\PN+""#L"]UQ^PQV"!"cNRSaK"[ZN"[PQ]U[USLQR" MNh\NL[UQR" MNXQPQ[USL" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM" UM" VQPbN]+"%ZNMN"QPN"[ZN"XPSTNMMNM"[ZQ["[QbN"XRQTN"XPUSP"[S"STT\XQ[USLK"aZUTZ"QPN"[ZN"SLNM"UL"YST\M"UL"[ZUM"M[\]W+".RMSK"[ZN"QPPSaM"VQPb"Q"TQ\MQR"QMXNT[1" [ZQ["[ZN"[aS"XPSTNMMNM"TQL" cN" MNNL" QM" ULYR\NL[UQRK" c\[" [ZQ[" [ZN" ULYR\NLTN" [QbNM" XRQTN" UL" Q" MNh\NL[UQR"M[P\T[\PN+""""

!E""

"

3GHIJHK',"URR\M[PQ[NM"ZSa"[ZN"NONL[M"[PQ]U[USLQRRW"[QbN"XRQTN"UL"Q"MNXQPQ[N"QL]"MNh\NL[UQR"M[P\T[\PN+"

""7ZQ["QXXNQPM"[S"cN"]UYYNPNL["UL"[ZN"VQLQ^UL^"]UPNT[SPHM"M[Q[NVNL["QcSON"UM"[ZQ["

ZN"XPSXSMNM" [ZQ[" [ZN" [aS"]NMU^L"XPSTNMMNM"TQL"[QbN"XRQTN"QM"TSLT\PPNL["QT[UOU[UNM+"2N"TZQPQT[NPU_NM"[ZN"XQPQRRNR"]NONRSXVNL["SY"[ZN"[aS"]NMU^LM"QM"!6%&'()*$%&$+,-.%/0'1$++2K" QL]" UL]UTQ[NM" [ZQ[" N`TZQL^NM" cN[aNNL" [ZNMN" XPSTNMMNM" VU^Z[" XPSOU]N"!+'7$% 5,.&% '@% +8.$0-8% )$":$$.% "#$72" k" QL]" [Z\M" XS[NL[UQRRW" aU[Z" V\[\QR"TSL[PUc\[USLM+"-W"M\^^NM[UL^"!.'"%"'%@0$$B$2"[ZN"SP^QLU_Q[USLQR"QMXNT[M"QM"!6%-,;$.%/0$1'.&,",'.2" ZN" LS[" SLRW" UL]UPNT[RW" UL]UTQ[NM" TZQL^NM" [ZQ[" VU^Z[" QYYNT[" [ZN"[PQ]U[USLQR" cPUNY" SY" PNh\UPNVNL[M" QL]" [Z\M" [ZN" aSPb" SY" TSL[NVXSPQPW" QPTZU[NT[M+".RMSK"ZN"UL]UTQ[NM"[ZQ["[ZN"UL[NPQT[USL"aU[Z"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"UM"RUbNRW"[S"ULTR\]N"Y\P[ZNP"TZQL^NM"[S"[ZN"SP^QLU_Q[USLQR"]NMU^L+"2SaNONPK"ZN"QTbLSaRN]^NM"[ZQ["aN" RQTb"N`XNPUNLTN" UL" [NPVM"SY"aZQ[" M\TZ"XQPQRRNR"]NMU^L"]NONRSXVNL[M"VQW"VNQL" UL" Q" XPQT[UTQR" TSL[N`[+" %PQ]U[USLQRRWK" VQLQ^NPM" ]S" LS[" QXXPSQTZ" [ZN"SP^QLU_Q[USLQR" ]NMU^L" XPSTNMM" YPSV" Q" MXQ[UQR" XNPMXNT[UON+" %ZNW" PQ[ZNP" YST\M" SL"T\PPNL[" QL]" Y\[\PN" XPQT[UTNK" aU[Z" PN^QP]M" [S" QMXNT[M" RUbN" aSPb" XPSTNMMNMK"TSRRQcSPQ[USL" QL]" XPS]\T[USL+" 6UVURQPRWK" QPTZU[NT[M" lQL]" QRMS" S[ZNP" VQUL" XRQWNPM"ULOSRON]"UL"[ZN"c\UR]UL^"XPSTNMM1"TSL[PQT[SPMK"NL^ULNNPM"QL]"VSPNm"QPN"LS["[PQULN]"UL"UMM\NM"[ZQ["PN^QP]"SP^QLU_Q[USLQR"]NMU^L+"%ZNUP"Q[[NL[USL"UM"[PQ]U[USLQRRW"XRQTN]"SL"QMXNT[M" [ZQ[" ULOSRON" Y\LT[USLQR" QL]" QNM[ZN[UTQR" TSL]U[USLMK" aU[Z" PNYNPNLTN" [S" [ZN"OQPUS\M"YQT[SPM"[ZQ["TSLM[U[\[N"[ZN"c\UR]UL^"QM"Q"TSLM[P\T[USL+"""'L" [ZN" cQMUM" SY" [ZUM" LS[USL" SY" Q" TRSMNP" RULb" cN[aNNL" SP^QLU_Q[USLQR" QL]"

QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMK" #"ZQON"Q[[NVX[N]" [S"N`XRSPN"aZQ["VU^Z["TSLM[U[\[N"M\TZ"Q"RULb+"#Y"Q"TRSMNP"RULb"TQL"]UMTRSMN"Q"cURQ[NPQR"SXXSP[\LU[W"YSP"cS[Z"]NMU^LNPMK"U[" LNN]M" [S"cN" N`XRSPN]"QL]" UL[NPPS^Q[N]!+"%ZN" [ZNMUM" QUVM" [S"XPSOU]N"]UMT\MMUSLM"[ZQ["TQL"TSL[PUc\[N"[S"[ZUM"N`XRSPQ[USL+""

"""""""""""""""""""""""""""""""""""""""""""!" .M" aURR" QRMS" cN" XSUL[N]" S\[" UL" TZQX[NP" C" PN^QP]UL^" [ZN" M[\]WHM" VN[ZS]SRS^WK" #" ZQON" nSLRWH" cNNL"TSLTNPLN]" aU[Z" YS\P" SY" [ZN" PSRNM" ULOSRON]" UL" c\UR]UL^" XPSdNT[MK" UL" aZUTZ" [ZN" TRUNL[" QL]" [ZN" NL]" \MNP"

!!""

.*!/0("-#,1&$2%&'"$%#$+*3&3+#/&

%ZN"U]NQ"SY"Q"TRSMNP"RULb"UM"LS[K"QM"M\TZK"LNa+"#L"PNTNL["WNQPMK"c\MULNMM"VQLQ^NPM"QL]"SP^QLU_Q[USL"MTZSRQPM"QRUbN"MNNV"[S"ZQON"YS\L]"ULTPNQMUL^"UL[NPNM["UL"[ZN"MXQ[UQR"M[P\T[\PN" [ZQ[" QTTSVVS]Q[NM"SP^QLU_Q[USLQR"XPQT[UTN" lN+^+"0Q^RUQP]U"!AA!K"-NTbNP"QL]"6[NNRN"!AAFK"2SP^NL"N["QR+"!AAAK"7NUTb"9EECK"-SRQL]"QL]"*SRRSXW"9EE;K"*RN^^"QL]" /SPLcNP^NP" 9EEBK" %QWRSP" QL]" 6XUTNP" 9EE?K" 3RMcQTZ" QL]" 4PQ[[" 9EE,m+" %ZN"UL[NPNM[" PNYRNT[M" T\PPNL[" MSTUN[QR" [NL]NLTUNMK" M\TZ" QM" [ZN" M\cM[QL[UQR" YST\M" SL"UL]UOU]\QR"LNN]M"QL]"aUMZNMK"QM"Q"XQPQVN[NP"[S"ULYSPV"SP^QLU_Q[USLQR"XPQT[UTNK"QL]"QRMS" SL" [ZN" TSL[UL\S\M" PNh\NM[" YSP" LNa" aQWM" SY" aSPbUL^" QL]" TSRRQcSPQ[UL^" UL"SP^QLU_Q[USLQR"TSL[N`[M+"#"aURR"PN[\PL"[S"[ZN"YUPM["SY"[ZNMN"XSUL[M"UL"[ZN"YSP[ZTSVUL^"TZQX[NPM+" .M" YSP" [ZN" RQ[[NPK" [ZN" ULTPNQMN]" YST\M" SL" TSRRQcSPQ[USL" cN[aNNL" XNSXRN"aU[Z"]UYYNPNL["XPSYNMMUSLQR"cQTb^PS\L]M"UM"MNNL"QM"QL"SXXSP[\LU[W"[S"^NLNPQ[N"LNa"XPS]\T[M" QL]" MNPOUTNMK" SY[NL" NL[U[RN]" ULLSOQ[USLM+" #L" SP]NP" [S" M\XXSP[" [ZQ[" M\TZ"ULLSOQ[USLM"TQL"TSVN"QcS\[K"VQLQ^NPM"QUV"[S"N`XRSPN"OQPUS\M"QXXPSQTZNM"[ZQ["TQL"NL]SPMN"[ZNMN"]NONRSXVNL[M+".TbLSaRN]^UL^"[ZQ["[ZUM"[WXN"SY"aSPb"k"[SaQP]M"[ZN"LNa"k"TQLLS["cN"TSVVQL]N]"c\["PQ[ZNP"M\XXSP[N]K"YQT[SPM"[ZQ["VU^Z["NLZQLTN"LNa"aQWM" SY" aSPbUL^" ZQON" cNTSVN" TNL[PQR+" 2NPNK" [ZN" MXQ[UQR" ]NMU^L" SY" QL" SYYUTN"NLOUPSLVNL[" ULTPNQMUL^RW" QXXNQPM" [S" cN" PNTS^LU_N]" QM" Q" PNRNOQL[" TSVXSLNL[" [S"NLZQLTN" XNPYSPVQLTN" QL]" TSRRQcSPQ[USL" UL" SP^QLU_Q[USLQR" MN[[UL^M+" 'ONP" [ZN" RQM["WNQPMK" SP^QLU_Q[USLM" ZQON" X\[" RQP^N" PNMS\PTNM" UL[S" OQPUS\M" [WXNM" SY" c\UR]UL^"XPSdNT[M1" PNTSLM[P\T[USLM" SY" N`UM[UL^" XPNVUMNMK" UL[NPLQR" PNY\PLUMZVNL[MK" SP" cPQL]"LNa"]SVUTURNM+"2NPNK" QL" SP^QLU_Q[USLQR" PNM[P\T[\PN"VU^Z[" cN" Q" TNL[PQR" YQT[SP" [ZQ["TQ[QRW_NM" [ZN" c\UR]UL^" XPSdNT[K"aU[Z" PNYNPNLTNM" [S" N+^+" ^PSa[ZK" ]SaLMU_UL^" QL]ISP"VNP^NPM+"-\["QR[ZS\^Z"M\cM[QL[UQR"ULONM[VNL[M"UL[S"M\TZ"XPSdNT[M"QPN"VQ]N"QL]"[ZN"MXQ[UQR" SXXSP[\LU[UNM" [S" M\XXSP[" SP^QLU_Q[USLQR" VNQLM" QPN" UL]UTQ[N]K" [ZN" c\UR]UL^"XPSTNMM" UM" M[URR" XPN]SVULQL[RW" SP^QLU_N]" UL" Q" MNh\NL[UQR" MN[\X+" %ZN" S\[RULN" UL"]UQ^PQV"!"M[URR"XNPMUM[M+"""#Y"aN"PN[\PL"[S"[ZN"VQLQ^UL^"]UPNT[SPHM"M[Q[NVNL["UL"[ZN"h\S[Q[USL"QcSONK"!.'"%

76.8%/$'/*$2"ZQON"WN["cN^\L"[S"YST\M"SL"[ZNMN"[aS"]NMU^L"XPSTNMMNM"lYSP"N`QVXRN"UL" [ZN" MU[\Q[USL" SY" Q"VNP^NP" cN[aNNL" [aS"SP^QLU_Q[USLM" [ZQ[" QPN" NM[QcRUMZUL^" UL" Q"LNa"SYYUTN"c\UR]UL^m"QM"XS[NL[UQRRW"TSLLNT[N]+"-\["UY"aN"M[QP["[S"TSLMU]NP"[ZN"RULb"QM"

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""PNXPNMNL[" [ZN" MQVN" SP^QLU_Q[USLQR" \LU[+" %ZN" YS\P" PSRNM" QPN1" [ZN" TRUNL[" QM" VQLQ^NPK" [ZN" TRUNL[" QM" M[QYY"VNVcNPINL]"\MNPK"[ZN"QPTZU[NT["QL]"[ZN"XPSTNMM"]NMU^LNP+""

!9""

QL" SXXSP[\LU[WK" U[" UM" \LTRNQP" aZQ[" U[" VQW" TSL[QUL" SY" UVXRUTQ[USLM+" #L" SP]NP" [S"N`XRSPN" [ZN" RULbK" aN" LNN]" Q" ONZUTRN" [ZQ[" TQL" cPUL^" [ZN" [aS" ]NMU^L" XPSTNMMNM"[S^N[ZNPg" Q" MTNLNK" [ZPS\^Z"aZUTZ" [ZN" RULb" TQL" cN" ]UMT\MMN]" QL]" \LYSR]N]+" %ZNPN"VU^Z["cN"]UYYNPNL["aQWM"[S"QXXPSQTZ"[ZUM"XS[NL[UQR"TSLLNT[USL"QM"Q"M[\]W"ScdNT[+"#L"[ZUM" M[\]WK" ZSaNONPK" U[" UM" [ZN" cPSQ]" XZNLSVNLSL" SY[NL" PNYNPPN]" [S" QM"!$.&% (+$0%/60",1,/6",'.2"[ZQ["ZQM"VQ]N"\X"[ZN"MTNLN+""""

%#,&-4%(&'*($+!+'*$+"#1&*&5*6&$"&4$-,6&$2%&3+#/&

3L]"\MNP"XQP[UTUXQ[USL"QXXNQPM"[S"cN"Q"[NL]NLTW"[ZQ["^PQ]\QRRW"ULOSRONM"MSTUN[W"Q[" RQP^NK"aU[Z" PN^QP]M" [S" [ZN"aQW"X\cRUT" MNPOUTN" UM" T\PPNL[RW"cNUL^" M[P\T[\PN]"QL]"SP^QLU_N]+" .M" Q" VN[ZS]K" U[" UM" cQMN]" SL" Q" L\VcNP" SY" ULMXUPQ[USLQR" MS\PTNM" [ZQ["PNXPNMNL["VN[ZS]SRS^UTQR" YPQVNaSPbM"QM"aNRR"QM"XPQT[UTQR" [NTZLUh\NM+"2NPNK"QPNQM"M\TZ"QM"N[ZLS^PQXZW"lN+^+"-RSVcNP^"!AACK"=SPMW[ZN"!AAAK"#ONW"QL]"6QL]NPM"9EEBmg"XQP[UTUXQ[SPW"]NMU^L"lN+^+"0PNNLcQ\V"QL]"/WL^"!AACK"6TZ\RNP"QL]"$QVUSbQ"!AACK"2SPNRRU" 9EE9mg" Z\VQL" TSVX\[NP" UL[NPQT[USL" lN+^+".L]NPMSL" !AA;K"(S\PUMZ" 9EEBmg"\MNPD]PUONL" ULLSOQ[USL" lN+^+" OSL"2UXXNR" 9EE?m" MNNV" [S" PNXPNMNL[" TNL[PQR" MS\PTNM+"7U[ZUL" Q" RQP^N" XQP[" SY" [ZN" TSL[NVXSPQPW" ]NMU^L" UL]\M[PWK" bLSaRN]^N" QcS\[" \MNP"cNZQOUSP" ZQMK" YSP" ]NTQ]NMK" cNNL" TSLMU]NPN]" TNL[PQR" [S" [ZN" ]NONRSXVNL[" SY" ]NMU^L"XPS]\T[M+"#L"[ZN"YUNR]"SY"QPTZU[NT[\PQR"]NMU^LK"ZSaNONPK"[ZUM"UL[NPNM["MNNVM"[S"ZQON"]NONRSXN]" QL]" NM[QcRUMZN]" Q[" Q" MRSaNP" XQTN+" .PTZU[NT[\PQR" ]NMU^L" UM" Q" TSVXRN`"XPQT[UTN" [ZQ[" UM" ]UYYUT\R[" YSP" QPTZU[NT[M" [S" N`XRQUL" QM" aNRR" QM" YSP" RQWVNL" [S"TSVXPNZNL]"lN+^+"6QUL["!A,CK"*\YY"!AA!K"=UMZNP"9EEEK"5NQ[ZNPcQPPSa"9EE!m+"-QMN]"SL"T\PPNL[" [NL]NLTUNMK" [ZN"TRUNL[" ULTPNQMUL^RW"]NVQL]M"Q"VSPN"TNL[PQR"XSMU[USL" UL"[ZN"]NONRSXVNL["SY"[ZN"]NMU^L"MSR\[USL"SY"YSP"N`QVXRN"SYYUTN"c\UR]UL^M"l8SS"N["QR+"9EEBm+" %ZN" MU[\Q[USL" [Z\M" MNNVM" [S" TSL[QUL" Q" TNP[QUL" TSL[PQ]UT[USL" cN[aNNL" [ZN"QPTZU[NT[" XPSYNMMUSLHM" [PQ]U[USLQR" TSLM[U[\[USL" QL]" MSVN" SY" [ZNMN" LNa" TSL]U[USLM+"%ZUM" TSL[PQ]UT[USL" VQW" PNXPNMNL[" M\cM[QL[UQR" TZQRRNL^NM" [S" [ZN" TSL[NVXSPQPW"QPTZU[NT["lTY+"*ZQX[NP";m+"'".M"aURR"cN"S\[RULN]"cNRSa"UL"[ZUM"TZQX[NPK"[ZN"XSUL["SY"]NXQP[\PN"UL"[ZN"M[\]W"ZQM"

cNNL" [aS" NVXUPUTQR" XPSdNT[M1" <\LUTUXQRU[W" 2URRNPe]HM" LNa" [SaL" ZQRR" QL]"

!C""

QPTZU[NT[\PQR" YUPV" .PbU[NVQHM" SaL" LNa" *SXNLZQ^NL" SYYUTN+" -S[Z" aNPN" c\UR]UL^"XPSdNT[MK"UL"aZUTZ"Q"TRUNL["SP^QLU_Q[USL"ZUPN]"QL"QPTZU[NT[\PQR"YUPV"lSP"Q"TSLMSP[U\V"SY"Q"TSLM[P\T[SPK"QL"NL^ULNNP"QL]"QL"QPTZU[NT[mK"UL"SP]NP"[S"NM[QcRUMZ"Q"LNa"XZWMUTQR"YPQVNaSPb" [S" QTTSVVS]Q[N" [ZN" SP^QLU_Q[USLHM" XPSYNMMUSLQR" XPQT[UTN+" #L" cS[Z"XPSdNT[MK"NL]"\MNP"XQP[UTUXQ[USL"aQM"UL[N^PQ[N]"QM"Q"XQP["SY" [ZN"XPSdNT["S\[RULN"QL]"[Z\M" QM" [ZN" XPSdNT[HM" cQMUT" XPNTSL]U[USL+" #L" [ZNMN" XQP[UTUXQ[USL" XPSTNMMNMK" Q"M\cM[QL[UQR" ^PS\X" [ZQ[" PNXPNMNL[N]" [ZN" TRUNL[" SP^QLU_Q[USLHM" M[QYY" lQL]" [Z\M" [ZN"c\UR]UL^HM" NL]" \MNPMm" aQM" ULOU[N]" [S" XQP[UTUXQ[N" UL" YSP" N`QVXRN" aSPbMZSXMK"UL[NPOUNaM"QL]" M\PONWM+"2NPNK" UMM\NM" [ZQ[" PN^QP]N]" [ZN" MXQ[UQR"SP^QLU_Q[USL"SY" [ZN"XPSYNMMUSLQR" XPQT[UTN" aNPN" ]UMT\MMN]+" %ZN" XPSTNMMNM" aNPN" SP^QLU_N]" QT[UOU[UNMK"XRQLLN]"QL]"YQTURU[Q[N]"cW"MSDTQRRN]"!/0'1$++%&$+,-.$0+2+"%ZN"PSRN"SY" [ZN"XPSTNMM"]NMU^LNP"MNNVM"[S"PNXPNMNL["Q"PNRQ[UONRW"LNa"XRQWNP"aU[ZUL"[ZN"YUNR]"SY"QPTZU[NT[\PQR"]NMU^L+" #[M"TSL[NL["QL]"PNMXSLMUcURU[UNM"aURR"cN"XPSOUMUSLQRRW"]UMT\MMN]" [ZPS\^ZS\["[ZN"[ZNMUM"lTY+"MNT[USLM"F.K"B."QL]"B-m+"""-\[" LS[" SLRW" aNPN" [ZNMN" XPSTNMMNM" SP^QLU_N]" QL]" TSLTNPLN]" aU[Z" UMM\NM" [ZQ["

XPUVQPURW" Q]]PNMMN]" [ZN" MXQ[UQR" SP^QLU_Q[USL" SY" [ZN" aSPb" XPQT[UTN+" .RMSK" [ZN"QT[UOU[UNM"[SSb"XRQTN"XQPQRRNR"[S"[ZN"NVNP^NLTN"SY"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USL+"2NPNK" [ZN" U]NQ" MNNVM" [S" cN" [ZQ[" [ZN" S\[TSVN"SY" [ZN" lSP^QLU_Q[USLQRm" XPSTNMMNM" SY"NL]"\MNP"XQP[UTUXQ[USL"aQM"M\XXSMN]"[S"MNPON"QM"QL"ULX\["[S"ULYSPV"[ZN"TPNQ[USL"SY"[ZN"lQPTZU[NT[\PQRm"]NMU^L"MSR\[USL+".M"VNL[USLN]"QcSONK"[ZN"XS[NL[UQR"RULb"cN[aNNL"[ZN" SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" aQM" UL]UPNT[RW" UL]UTQ[N]" UL" [ZN" XPSdNT["S\[RULNM"UL"cS[Z"NVXUPUTQR"XPSdNT[M+""%ZUM"QMXUPQ[USL"[Z\M"RNQONM"\M"aU[Z"M\cM[QL[UQR"TZQL^NMK"aU[Z"PNYNPNLTN"[S"[ZN"aQW"[ZNMN"]NMU^L"XPSTNMMNM"ZQON"[PQ]U[USLQRRW"cNNL"SP^QLU_N]" lTY+" ]UQ^PQV" !m+" (UQ^PQV" 9" URR\M[PQ[NM" [ZN" U]NQ" SY" SP^QLU_UL^" [ZN" [aS"]NMU^L"XPSTNMMNM"UL"Q"XQPQRRNR"M[P\T[\PNK" UL"aZUTZ"XPSTNMMNM"SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"YSPV"Q"aQW"[S"TSLLNT["[ZN"[aS+"2NPNK"U["TSVNM"YSP[Z"[ZQ["[ZN"XRQWNPM"ULOSRON]" UL" [ZUM" MN[\X"QPN"LS["SLRW" [ZN" TRUNL[" QM" [ZN" PNMXSLMUcRN"VQLQ^NP" QL]" [ZN"QPTZU[NT[K"c\["[ZQ["QRMS"S[ZNP"XRQWNPM"QPN"ULOSRON]+"%ZNMN"S[ZNP"XRQWNPM"QPN"[ZN"TRUNL["QM" [ZN" M[QYY"VNVcNPINL]"\MNP" QL]"QRMS" [ZN"LNa" PSRN"SY" [ZN"XPSTNMM"]NMU^LNP+"%ZN"QT[UOU[UNM" [ZQ[" [ZN" NL]" \MNP" PNXPNMNL[Q[UONM" QPN" ULOSRON]" UL" QPN" XPN]SVULQL[RW"aSPbMZSXMK"UL[NPOUNaM"QL]"M\PONWM+"

!;""

"

3GHIJHK'8"MZSaM"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"SP^QLU_N]"UL"Q"XQPQRRNR"M[P\T[\PNK"UL"aZUTZ"NL]"\MNP"XQP[UTUXQ[USL"YSPV"Q"aQW"[S"TSLLNT["[ZN"[aS+""

"

(%4%*(!2&7-%4$+"#&*#,&*4'+(*$+"#&

#L"[ZUM"M[\]WK"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"UM"[Z\M"[ZN"MTNLNK"[ZPS\^Z"aZUTZ"[ZN" PNRQ[USLMZUX" cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" UM"N`XRSPN]+" #" ZQON" Q[[NVX[N]" [S" U]NL[UYW" ZSa" [ZNMN" QT[UOU[UNM" XPS]\TN" aZQ[" #" TQRR"nTSLLNT[USLMH" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNMK" QL]" [S" ]UMT\MM" Q" YNa" SY" [ZN"UVXRUTQ[USLM" [ZQ[" [ZNMN" nTSLLNT[USLMH"VU^Z["ZQON+"'L" [ZUM"cQMUMK" #"ZQON"QMbN]" [ZN"YSRRSaUL^"PNMNQPTZ"h\NM[USL1"""*LM' NLOP' LJIHQGRON' OQN' SPOJ' THJUGVGTHUGLQ' GQ' HJVWGUOVUSJHX' NOPGIQ'

TJLVOPPOP' IOQOJHUO' YVLQQOVUGLQPZ' [OUMOOQ' LJIHQGRHUGLQHX' HQN' HJVWGUOVUSJHX'NOPGIQ\'""#Y"aN"TSLMU]NP"[ZN"TRUNL["SP^QLU_Q[USLHM"MXQ[UQR"M[P\T[\PN"QM"Q"XSUL["SY"]NXQP[\PN"

UL"[ZUM"MNQPTZK"U["MNNVM"TNL[PQR"[S"RSSb"Q["[ZN"TSZNMUSL"cN[aNNL"[ZN"SP^QLU_Q[USLQR"QT[UOU[UNM" QL]" [ZN"aQW" [ZQ[" [ZNMN" QPN" XZWMUTQRRW" SP^QLU_N]+" %ZUM" UM" QL" \LYQVURUQP"XNPMXNT[UONK"YPSV"aZUTZ"[ZN"M[QYY"UL"QL"SP^QLU_Q[USL"TQL"]UMT\MM"[ZNUP"aSPb+".M"YSP"[ZN" XPSYNMMUSLQR" QPTZU[NT[K" MZN" TQL" XPSOU]N" bLSaRN]^N" QcS\[" QMXNT[M" RUbN" MXQ[UQR"]UMXSMU[USL" QL]" RU^Z[UL^" TSL]U[USLM" YPSV" ZNP" N]\TQ[USLQR" [PQULUL^K" c\[" aZQ[" ]SNM"MZNK" UL" YQT[K"bLSa"QcS\[" [ZN"aSPb"XPSTNMMNM" [ZQ[" [ZN" MXQ[UQR" M[P\T[\PN" UM"VNQL[" [S"QTTSVVS]Q[No"=SP"cS[Z"XQP[UNMK"[ZN"MN[\X"TQL"[Z\M"cN"MQU]"[S"ZQON"LNa"QMXNT["[S"U[+"%ZN" U]NQ"MNNVM" [S"cN" [ZQ[" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z[" PNXPNMNL["Q"VN]UQ[UL^"ONZUTRNK" [ZPS\^Z"aZUTZ" [ZN" M[QYYHM"bLSaRN]^N"QcS\[" [ZNUP"XPQT[UTN" TQL" ULYSPV" [ZN"

!F""

QPTZU[NT[HM"TPNQ[UON"]NMU^L"XPSTNMM+"#L"[ZUM"aQW"aN"VU^Z["MQW"[ZQ["[ZN"XQP[UTUXQ[USL"MNPONM" QM" QL" SXXSP[\LU[W" [S" ^S" cNZUL]" SP" ]UMMSRON" Q" ]NMU^L" XPSTNMM" l[ZN"QPTZU[NT[\PQRm" [ZQ[" UM" [PQ]U[USLQRRW" TSLTNQRN]K" cW" N`XSMUL^" U[" [S" Q" ]UYYNPNL[" ]NMU^L"XNPMXNT[UON"l[ZN"SP^QLU_Q[USLQRm+"""%ZNPN" UM"Q" PNQMSLK"ZSaNONPK" [ZQ[" [ZNMN" [aS"]NMU^L"XPSTNMMNM"ZQON" [PQ]U[USLQRRW"

cNNL" MNNL" QM" MNXQPQ[N+" .M" ]NMU^L" XPSTNMMNMK" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR"]NONRSXVNL[M"QPN"cQMN]"SL"M\cM[QL[UQRRW"]UYYNPNL["TSLM[U[\[USLM" [ZQ["TQLLS["NQMURW"cN" M\cdNT[N]" [S" V\[\QR" [PQLMYNPNLTN+" .M" aURR" cN" URR\M[PQ[N]" QL]" ]UMT\MMN]" UL" [ZN"YSP[ZTSVUL^" TZQX[NPMK" [ZN" U]NQ" SY" cPUL^UL^" NL]" \MNP" PNXPNMNL[Q[UONM" UL[S" [ZN"QPTZU[NT[\PQR" ]NMU^L"aSPb" QL]" [ZNPNcW" YSPVUL^" Q" PNRQ[USLMZUX" cN[aNNL" [ZNMN" [aS"]NMU^L" XPSTNMMNM" MNNVM" [S" ZQON" UVXRUTQ[USLM" YSP" cS[Z" XQP[UNM+" 6SK" QR[ZS\^Z" [ZN"LS[USL"SY"!6%&'()*$%&$+,-.%/0'1$++2"VU^Z["XPS]\TN"nTSLLNT[USLMH"[ZQ["PNXPNMNL["Q"XS[NL[UQRK"[ZNMN"nTSLLNT[USLMH"QRMS"TSL[QUL"TSVXRN`U[W"[ZQ["LNN]M"N`QVULQ[USL+"-W"\LYSR]UL^" QL]" UL[NPPS^Q[UL^" MSVN" SY" [ZNMN" nTSLLNT[USLMHK" [ZN" [ZNMUM" QUVM" [S"TSL[PUc\[N"[S"[ZUM"N`XRSPQ[USL+"%ZPS\^Z"[ZN"[aS"NVXUPUTQR"XPSdNT[MK"#"ZQON"Q[[NVX[N]"[S"M[\]W"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"YPSV"TRSMN"PQL^N1"ZSa"[ZNW"aNPN"XRQLLN]"QL]"N`NT\[N]"QL]"ZSa"[ZN"S\[TSVN"[ZNW"XPS]\TN]"VU^Z["cN"MQU]"[S"ZQON"ULYR\NLTN]"[ZN"]NMU^L"MSR\[USLM+""".M"VNL[USLN]"QcSONK"[ZN"XQP[UT\RQP"UL[NPNM["UL"MXQTN"QL]"QPTZU[NT[\PQR"]NMU^L"QM"

Q"XS[NL[UQR"QMMN["[S"SP^QLU_Q[USLQR"]NONRSXVNL["T\PPNL[RW"MNNVM"[S"cN"MZQPN]"QVSL^"VQLQ^NPM"QL]"SP^QLU_Q[USL"MTZSRQPM"lN+^+"0Q^RUQP]U"!AA!K"-NTbNP"QL]"6[NNRN"!AAFK"7NUTb"9EECK"-SRQL]"QL]"*SRRSXW"9EE;K"*RN^^"QL]"/SPLcNP^NP"9EEBK"%QWRSP"QL]"6XUTNP" 9EE?K"3RMcQTZ" QL]"4PQ[[" 9EE,m+" #L" [ZNMN" M[\]UNMK" Q" L\VcNP" SY" UMM\NM" ZQON"cNNL"cPS\^Z[" YSP[Z" [ZQ[K" UL"OQPUS\M"aQWMK" MNNV" [S" YST\M"SL"ZSa"MXQTN"QL]"MSTUQR"PNRQ[USLM"UL"SP^QLU_Q[USLQR"TSL[N`[M"TQL"V\[\QRRW"TSLM[U[\[N"NQTZ"S[ZNP"lTY+"MNT[USL"9.m+"2SaNONPK" SLRW" YNa" TSL[PUc\[USLM" lN+^+"0Q^RUQP]U" !AA!K"8QLSa" !AAFK" !AA,K"2SP^NL"N[" QR+"!AAAK"-\ZR"4N]NPMNL"9EEBK"8SS"N[" QR+"9EEBK"3aNLM[NUL"QL]"7ZW[N"9EE?K"OQL"<QPPNaUdb"9EEAm"QXXNQPM" [S"cN"cQMN]"SL"NVXUPUTQR"M[\]UNM" [ZQ["]UMT\MM"[ZN" QT[\QR" UVXRUTQ[USLM" [ZQ[" Q" TRSMNP" PNRQ[USLMZUX" VU^Z[" ZQON" SL" [ZNMN" ]NMU^L"XPQT[UTNM+"""7U[Z" [ZUM" [ZNMUMK" #" QUV" [S" TSL[PUc\[N" [S" [ZN" RQ[[NP"cW" [QbUL^"Q" M[PSL^"NVXUPUTQR"

XSUL["SY"]NXQP[\PN+"#"]S"[ZUM"cW"N`XRSPUL^"ZSa"[ZN"QXXRUTQ[USL"SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL" UL" [aS" c\UR]UL^" XPSdNT[M" Q[[NVX[N]" [S" ULYSPV" QPTZU[NT[\PQR" XPQT[UTNK"

!B""

aZURN" TSLT\PPNL[RW" k" cW" [ZN" ONPW" MQVN" QT[UOU[UNM" k" TSLM[U[\[UL^" SP^QLU_Q[USLQR"]NONRSXVNL[+" #L" [ZNMN" XQPQRRNR" XPSTNMMNM" [ZQ[" [ZN" V\LUTUXQRU[W" ]UPNT[SP" QcSON"NL[U[RN]"!6%&'()*$%&$+,-.%/0'1$++2K" [ZNPN"VU^Z["PNMU]N"Q"cURQ[NPQR"PNMS\PTN+"#L"[ZN"[ZNMUMK" #" ]UMT\MM" ZSa" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" [QbN" XRQTN" UL" [ZN" QT[\QR" ]NMU^L"XPSTNMMNMK"QL]"[Z\M"ZSa"[ZN"RULb"cN[aNNL"[ZNV"QYYNT[M"[ZN"]NMU^L"aSPb+"%ZN"aQW"#"QXXPSQTZ"QL]"QLQRW_N"[ZN"NVXUPUTQR"VQ[NPUQR"XPS]\TN]"UL"[ZN"TS\PMN"SY"[ZN"XPSdNT[M"UM" ULMXUPN]"cW" [aS" [ZNSPN[UTQR" TSLTNX[M1" MNLMNVQbUL^" UL"SP^QLU_Q[USL" lN+^+"7NUTb"!A?AK"!AAFK"9EE!K"7NUTb"N["QR+"9EEFmK"QL]"QT[SPDLN[aSPb"[ZNSPW"lN+^+"*QRRSL"!A,BK"5Q[S\P"!AA!K"!AAAK".bPUTZ"!AA?m+"""%ZN" [ZNMUM" ]SNM" LS[" XPSOU]N" TRNQP" QLMaNPM" QM" [S" ZSa" SP^QLU_N]" NL]" \MNP"

XQP[UTUXQ[USL"TQL"TSL[PUc\[N"QM"Q"ONZUTRN"[S"ULYSPV"QPTZU[NT[\PQR"]NMU^L"XPQT[UTNK"SP"[S" ZSa" QPTZU[NT[\PQR" ]NMU^L"VU^Z[" NLZQLTN" [ZN" ]NONRSXVNL[" SY" QL" SP^QLU_Q[USLQR"]NMU^L+"&Q[ZNPK" U[" ]UMT\MMNM" MSVN"SY" [ZN" TNL[PQR" ]WLQVUTM" QL]" ]URNVVQM" [ZQ[" [ZN"PNRQ[USLMZUX"cN[aNNL" [ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"MNNVM" [S"TSL[QUL+" #L"[ZUM"aQWK"[ZN"nTSLLNT[USLMH"VU^Z["cN"MNNL"QM"[NLMUSLM"QL]"[Z\M"SXXSP[\LU[UNM"PQ[ZNP"[ZQL"TSLTPN[N"ONZUTRNM+"%ZUM"XSUL["VQW"RNQ]"\M"cQTb"[S"[ZN"[U[RN"SY"[ZN"[ZNMUM1"n7ZQ["aN"[QRb"QcS\["aZNL"aN"[QRb"QcS\["MXQTNpH+"%ZN"[U[RN"PNYNPM"[S".VNPUTQL"MZSP["M[SPW"aPU[NP"QL]"XSN["&QWVSL]"*QPONPHM"M[SPW"YPSV"!A,!"lq7ZQ["aN"[QRb"QcS\["aZNL"aN"[QRb" QcS\[" RSONrmK" UL"aZUTZ" [aS"VQPPUN]" TS\XRNM"VNN[" YSP" ]ULLNP+".R[ZS\^Z" [ZNW"Q[[NVX[" [S" [QRb" QcS\[" [ZNUP" V\[\QR" PNRQ[USLMZUXM" UL" Q" YPUNL]RW" VQLLNPK" [ZNUP"TSLONPMQ[USL" NL]" \X" [QbUL^"VQLW" ]UYYNPNL[" lQL]" TSLYPSL[Q[USLQRm" ]UPNT[USLM+" %ZN"XSUL[" #" aQL[" [S" VQbNK" aU[Z" PNYNPNLTN" [S" [ZUM" M[\]WK" UM" [ZQ[" TSLONPMQ[USLM" QPN"XSaNPY\R" ONZUTRNM+" 7ZNL" XNSXRN" UL" SP^QLU_Q[USLM" QPN" ULOU[N]" [S" TSLONPMN" QcS\["[ZNUP" aSPb" XPQT[UTN" UL" Q" MXQ[UQR" XNPMXNT[UONK" [ZNW" NL]" \X" [QRbUL^" QcS\[" VQLW"]UYYNPNL["QMXNT[M"SY" [ZNUP"aSPbK"PNRQ[USLMZUXMK"PS\[ULNM"QL]"VSPN+"2NPNK" [ZN"MXQ[UQR"TSL[N`["VU^Z["cN"MQU]"[S"MNPON"QM"Q"TQ[QRW_NP+"#L"QL"SP^QLU_Q[USLQR"XNPMXNT[UONK"[ZN"M[\]W"[Z\M"QUVM"[S"N`XRSPN"aZQ["ZQXXNLM"aZNL"VQLQ^NPM"QUV"[S"QXXRW"MXQTN"QM"Q"VNQLM"[S"QXXPSQTZ"OQPUS\M"SP^QLU_Q[USLQR"UMM\NM+"#L"QL"QPTZU[NT[\PQR"XNPMXNT[UONK"U["]UMT\MMNM" ZSa" [ZNMN" TSLONPMQ[USLM" VU^Z[" ^NLNPQ[N" Q" TRSMNP" UL[NPQT[USL" cN[aNNL"TRUNL["QL]"QPTZU[NT[K"QL]"aZQ["[ZN"UVXRUTQ[USLM"SY"M\TZ"XPS`UVU[W"VU^Z["cPUL^"[S"[ZN"TSL[NVXSPQPW"QPTZU[NT[+""

!?""

+8'3+!*$+"#4&*#,&"''"($-#+$+%4&)"(&"(0*#+9*$+"#*3&*#,&*(!2+$%!$-(*3&,%4+0#&

&45!6789:;<9=;6:9>!?57@?5A=;B5!

#Y"aN" RSSb" Q[" [ZN" [aS" ]NMU^L" YUNR]M" Q[" M[QbN" UL" [ZUM" TSVcULN]" QL]" TSLT\PPNL["XPSdNT[" M[P\T[\PNK" cS[Z" MNNV" [S" YQTN" T\PPNL[" TZQRRNL^NM+" =PSV" QL" SP^QLU_Q[USLQR"XNPMXNT[UONK" [ZN" ULTPNQMUL^" YST\M" SL" [ZN" M[QYY" VNVcNPHM" UL]UOU]\QR" LNN]M" QL]"aUMZNM"UL"[ZN"aQW"SP^QLU_Q[USLQR"XPQT[UTN"UM"SP^QLU_N]"MNNVM"TNL[PQR+"%S]QWK"M[QYY"VNVcNPM" QPN" ULTPNQMUL^RW" cPS\^Z[" UL" QM" TSL[PUc\[SPM" [S" XPSTNMMNM" SY" M[PQ[N^UT"TZQL^N+".RMSK"[ZN"SP^QLU_Q[USLHM"QcURU[W"[S"XPS]\TN"LNa"XPS]\T[M"QL]"MNPOUTNM"QL]"[S" XPS]\TN" [ZNV" UL" MVQP[NP" aQWM" UM" TSLMU]NPN]" Q" ^NLNPQR" TZQRRNL^N" UL"SP^QLU_Q[USLM+"-QMN]"SL" [ZNMN" [aS"XSUL[MK"aN"VU^Z[" MQW" [ZQ["VQLQ^NPM"LNN]"LNa"SXXSP[\LU[UNM" [S"\L]NP[QbN" [ZN"VQLQ^NVNL[" QMMU^LVNL[" UL"aQWM" [ZQ[" M\cM[QL[UQRRW"ULOSRON"[ZN"M[QYY"QL]"[ZQ["^NLNPQ[N"LNa"aQWM"SY"aSPbUL^"QL]"TSRRQcSPQ[UL^+"2NPNK"[ZN"MXQ[UQR"TSL[N`["SY"SP^QLU_Q[USLQR"RUYN"VU^Z["PNXPNMNL["M\TZ"QL"SXXSP[\LU[W+"""%ZN" M[P\T[\PN" SY" [aS" TSLT\PPNL[" QL]" PNTUXPSTQR" ]NMU^L" XPSTNMMNM" UL]UTQ[NM" Q"

XPSTNMM" [ZQ[" QRRSaM" M[QYY" PNXPNMNL[Q[UONM" [S" ULYR\NLTNK" LS[" SLRW" [ZN" ]NMU^L" SY" [ZN"c\UR]UL^K"c\["QRMS"[ZN"PQ[USLQRN"\XSL"aZUTZ"[ZN"]NMU^L"UM"cNUL^"cQMN]1"."PQ[USLQRN"[ZQ["VQW"PNYRNT["[ZN"T\PPNL["SP^QLU_Q[USLQR"]NMU^L"QL]"Q["[ZN"MQVN"[UVN"UL]UTQ[N"QL"SP^QLU_Q[USLQR" PN]NMU^L+" #Y" aN" PNTQRR" [ZN" VQLQ^UL^" ]UPNT[SP" QL]" ZUM" U]NQ" SY" !6%&'()*$%&$+,-.%/0'1$++2"UL"[ZN"h\S[Q[USL"QcSONK"[ZUM"M[P\T[\PN"MNNVM"[S"cN"PNYRNT[N]"UL"ZUM"XPSXSMQR+"2NPNK"[ZN"c\UR]UL^"XPSdNT["MNPONM"QM"Q"XSUL["SY"]NXQP[\PN"[S"TZQL^N"TNP[QUL"TSL]U[USLM"UL"[ZN"SP^QLU_Q[USLHM"M[P\T[\PN"QL]"XPQT[UTN+".^QUL"aU[Z"PNYNPNLTN"[S"[ZN"[U[RN"SY"[ZUM"[ZNMUMK"MXQTN"VQW"PNXPNMNL["[ZN"SXXSP[\LU[W"[S"[QRb"QcS\["TSVXRN`"SP^QLU_Q[USLQR"UMM\NM+"""'P^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QT[UOU[UNM"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"VU^Z["

[Z\M"XPSOU]N"QL"SXXSP[\LU[W" [S" ULOSRON" [ZN" M[QYY" UL"XPSTNMMNM"SY" M[PQ[N^UT"TZQL^N+"2NPNK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["cN"TSLMU]NPN]"QL"SXXSP[\LU[W"[S"N`XQL]"[ZN"M[QYYHM"XNPTNX[USL"SY"[ZNUP"aSPb"XPQT[UTN"QL]"[ZN"TSL]U[USLMK"\XSL"aZUTZ"U["UM"cQMN]"k"QL]"[Z\M"QM"QL"SXXSP[\LU[W"[S"NLZQLTN"[ZN"XQP[UTUXQL[MH"QcURU[W"[S"LQOU^Q[N"TZQL^N"

!,""

TSL]U[USLM+"-\["[ZNPN"MNNVM"[S"cN"QL"ULc\UR["[NLMUSL"Q["M[QbN"UL"[ZUM"M[P\T[\PNK"UL"[ZN"MNLMN"[ZQ["[ZN"ULOSRONVNL["UM"QRMS"RUbNRW"[S"N`XQL]"[ZN"M[QYYHM"N`XNT[Q[USLM"[S"aZQ["[ZNMN"TZQL^NM"VU^Z["cPUL^"k"QL]"TSLTPN[NRW"aZQ["[ZN"Y\[\PN"SYYUTN"c\UR]UL^"VU^Z["RSSb"RUbN+"%ZUM"[NLMUSL"aURR"cN"]UMT\MMN]"SL"OQPUS\M"STTQMUSLM"UL"TZQX[NPM"FK"B"QL]"?"cNRSa+""""

&45!97A4;=5A=C79>!?57@?5A=;B5!

%ZN" MTSXNK"aU[ZUL"aZUTZ" [ZN" YUNR]" SY" QPTZU[NT[\PQR" ]NMU^L" SXNPQ[NM" [S]QWK" ZQM"N`XQL]N]"M\cM[QL[UQRRW"[ZPS\^ZS\["[ZN"PNTNL["WNQPM+"%ZNMN"TSL]U[USLM"ZQON"XRQTN]"LNa"]NVQL]M"SL" [ZN" XPSYNMMUSLQR" QPTZU[NT[K"aZURN" S[ZNPM" ZQON" cNNL" RNY[" S\[+"%ZN"TZQRRNL^NM"QPN"XQP[RW"cQMN]"SL"VQMMUON"[NTZLSRS^UTQR"Q]OQLTNVNL[MK"c\["[ZNW"QRMS"ULOSRON"Q"MZUY["UL"[ZN"PNRQ[USLMZUX"cN[aNNL"QPTZU[NT["QL]"TRUNL[K"aU[Z"PNYNPNLTN"[S"[ZN"Q[[NL[USL" [S" UL]UOU]\QR" XPNYNPNLTNMK" XSUL[N]" S\[" QcSON+" 'P^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL" TQL" cN" MNNL" QM" SLN" aQWK" [ZPS\^Z" aZUTZ" SP^QLU_Q[USLQR" QMXNT[M" QPN"cNUL^"cPS\^Z["TRSMNP"UL[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPQT[UTN+"#["UM"[Z\M"Q"XS[NL[UQR"aQW"YSP"TRUNL["QL]"QPTZU[NT["[S"YSPV"Q"TRSMNP"RULb+"-\["aZQ["]SNM"[ZUM"XPS`UVU[W"VNQL"UY"[ZN" XSUL[" SY" ]NXQP[\PN" UM" Q" TSLT\PPNL[" ]NMU^L" XPSTNMM" [ZQ[" ULOSRONM" N`[NL]N]"QT[UOU[UNM"SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USLo"#L"[ZN"T\PPNL["TRUVQ[NK"[ZN"UVQ^N"SY"[ZN"TRUNL["QM"[ZN"PNMXSLMUcRN"XNPMSL"SP"YNa"XNPMSLMK"aZS"PNXPNMNL["[ZN"RULb"cN[aNNL"TRUNL[" QL]" QPTZU[NT[" UL" [ZN" TS\PMN" SY" QL" QPTZU[NT[\PQR" ]NMU^L" XPSdNT[K" MNNVM" [S" ^S"[ZPS\^Z"M\cM[QL[UQR"TZQL^NM+"7U[Z"[ZN"M[P\T[\PN"SY"[ZN"[aS"XQPQRRNR"]NMU^L"XPSTNMMNM"[ZQ["QPN"]UMT\MMN]"UL"[ZUM"[ZNMUMK"[ZN"TRUNL["PQ[ZNP"PNXPNMNL[M"aZQ["#"M\^^NM["[S"TQRR"Q"nTSVXS\L]" cS]W" SY" \MNPMH+" 2NPNK" Q" M\cM[QL[UQR" ^PS\X" SY" TRUNL[" PNXPNMNL[Q[UONM" UM"QT[UONRW" ULOSRON]" UL" [ZN" XPS]\T[USL" SY" PNh\UPNVNL[MK" LS[" SLRW" XPUSP" [S" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"c\["QRMS"XQPQRRNR"[S"QL]"QM"Q"XQP["SY"[ZN"NVNP^NLTN"SY"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USL+""".R[ZS\^Z" M\TZ" ]NONRSXVNL[M" UL" [ZN" PNRQ[USLMZUX" cN[aNNL" TRUNL[" QL]" QPTZU[NT["

VU^Z[" PNXPNMNL[" TNP[QUL" SXXSP[\LU[UNMK" U[" VU^Z[" QRMS" ULOSRON" Q" XS[NL[UQR"VQP^ULQRU_Q[USLK" aU[Z" PN^QP]M" [S" [ZN" QPTZU[NT[HM" XSMU[USL+" 7U[Z" [ZN" ULTPNQMN]"[NTZLSRS^UTQR" TSVXRN`U[W" [ZQ[" TSL[NVXSPQPW" c\UR]UL^" XPSdNT[M" PNXPNMNL[K" [ZN"L\VcNP"SY" YSP"N`QVXRN"NL^ULNNPM" ULOSRON]" UL" [ZN"]NMU^L"XPSTNMM" UM"QRMS" RUbNRW" [S"^PSa+" .RMSK" aU[Z" Q" VSPN" QT[UON" ULOSRONVNL[" SY" QL" UL]UM[ULT[" cS]W" SY" TRUNL["PNXPNMNL[Q[UONM" QXXNQPUL^" SL" [ZN" MTNLN" l[ZN" nTSVXS\L]" cS]W" SY" \MNPMHmK" [ZN"

!A""

QPTZU[NT[" VU^Z[" cN" RNY[" UL" Q" VSPN" XNPUXZNPQR" XSMU[USL+" #L" [ZUM" XNPMXNT[UONK" [ZN"QPTZU[NT["LNN]M"[S"PN^QUL"Q\[ZSPU[W"SP"PN]NYULN"[ZNUP"XPSYNMMUSLQR"PNTS^LU[USL+"'"-QMN]" SL" [ZNMN" UL[PS]\T[SPW" TSVVNL[MK" aN" VU^Z[" MQW" [ZQ[" [ZN" nTSLLNT[USLMH"

cN[aNNL" QPTZU[NT[\PQR" QL]" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM" TQL" PNXPNMNL[" cURQ[NPQR"PNMS\PTNM1"$Na" QP^\VNL[M" [S" RN["VQLQ^NP" QM"aNRR" QM" QPTZU[NT[" \[URU_N" QL]" Y\P[ZNP"]NONRSX" [ZNUP" N`XNP[UMNK" QL]" Q[" [ZN" MQVN" [UVN" PNMXSL]" [S" T\PPNL[" MSTUN[QR"PNh\UPNVNL[M+"%S"[ZN"VQLQ^NPK"[ZN"YQT[SPM"[ZQ["TSLM[U[\[N"[ZN"SP^QLU_Q[USLHM"MXQ[UQR"YPQVNaSPb"ZQON"[PQ]U[USLQRRW"cNNL"TSLMU]NPN]"QL"ULYNPUSP"QMXNT["SY"SP^QLU_Q[USLQR"XPQT[UTN+"%ZN"[ZNMUM"QUVM"[S"]UMT\MM"QL]"URR\M[PQ[N"ZSa"[ZN"MXQ[UQR"XNPMXNT[UON"VU^Z["cN"MNNL"QM"TSVXRN`"UL"Q"VQLQ^NVNL["XNPMXNT[UONK"c\["QRMS"ZSa"U["VU^Z["cN"MQU]"[S"ZQON" M[PQ[N^UT"XS[NL[UQR+"%S" [ZN" QPTZU[NT[K" [ZN"LS[USL"SY" Q" TRSMNP" RULb" [S" [ZN" TRUNL["l[ZPS\^Z" N`[NL]N]" UL[NPQT[USL" aU[Z" Q" nTSVXS\L]" cS]W" SY" \MNPMHm" VQW"MUV\R[QLNS\MRW" cN" MNNL" QM" Q" XS[NL[UQR" [ZPNQ[" QL]" Q" XS[NL[UQR" PNMS\PTN+" %ZN" [ZNMUM"QUVM" [S" N`XRSPN" MSVN"SY" [ZN" UVXRUTQ[USLM" QL]" SXXSP[\LU[UNM" [ZQ[" [ZN" ULOSRONVNL["VU^Z["ZSR]K"aU[Z"PNYNPNLTN"[S"[ZN"XSMU[USL"SY"[ZN"TSL[NVXSPQPW"QPTZU[NT[+""'

$2%&%8'+(+!*3&!"#$%:$&

#L" SP]NP" [S" ]UMT\MM" QL]" URR\M[PQ[N" [ZN" UVXRUTQ[USLM" [ZQ[" Q" TRSMNP" RULb" cN[aNNL"SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" VU^Z[" ZSR]K" #" ZQON" MS\^Z[" QL"NVXUPUTQR"TSL[N`["YPSV"aZUTZ"M\TZ"XS[NL[UQR"TS\R]"cN"]UMTRSMN]+"%ZN"M[\]W"UM"cQMN]"SL"[aS"TQMNM"[ZQ["PNXPNMNL["c\UR]UL^"XPSdNT[MK"aU[ZUL"aZUTZ"Q"M\cM[QL[UQR"QVS\L["SY"XQP[UTUXQ[USL" QT[UOU[UNM" ZQON" YSPVN]" Q" XSUL[" SY" ]NXQP[\PNK" UL" SP]NP" [S" ULYSPV" [ZN"]NMU^L"SY" [ZN"c\UR]UL^M+" #L"cS[Z"XPSdNT[MK" [ZN" RULb"cN[aNNL" [ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"aNPN"QP[UT\RQ[N]"QM"QL"QVcU[USL"[ZQ["[ZN"XPSdNT["QUVN]"[S"N`XRSPN+"#L" [ZN" S\[RULN" cNRSaK" [ZN" [aS" TQMNM" QPN" XPNMNL[N]" ONPW" cPUNYRWK" aZURN" Q" VSPN"[ZSPS\^Z"QL]"TSL[N`[\QR"XPNMNL[Q[USL"SY"[ZN"XPSdNT[M"aURR"cN"S\[RULN]"UL"TZQX[NPM"F"QL]"B+""""

9E""

&45!&6D:!#9>>!?76E5A=!FAGH!A49?=57!IJ!

%ZN"NM[QcRUMZVNL["SY"V\LUTUXQRU[W"2URRNPe]HM"LNa"[SaL"ZQRR"VU^Z["cN"MNNL"QM"Q"XQP["SY"RQP^N"LQ[USLQR"PNM[P\T[\PUL^"SY"[ZN"X\cRUT"MNT[SP"UL"(NLVQPb+"2NPNK"2URRNPe]"aQM" cNUL^" VNP^N]" aU[Z" ^NS^PQXZUTQRRW" Q]dQTNL[" \LU[K" 6biOUL^N+" .R[ZS\^Z" [ZN"XRQLLUL^"SY"[ZN"[SaL"ZQRR"ZQ]"M[QP[N]"XPUSP"[S"[ZN"X\cRUT"PNTSLM[U[\[USLK"[ZN"c\UR]UL^"XPSdNT["aQM"MNNL"QM"QL"SXXSP[\LU[W"[S"NLZQLTN"[ZN"SP^QLU_Q[USLQR"PN]NMU^L"[ZQ["[ZN"VNP^NP" PNXPNMNL[N]+" #L" [ZN" XPSdNT[K" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" MNPON]" QM" Q"ONZUTRN" [S" UL]\TN"]NONRSXVNL[M"aU[ZUL" [ZN"SP^QLU_Q[USLQR"]NMU^LK"aZURN" [ZN" MQVN"XPSTNMMNM"aNPN"MNNL"QM"Q"aQW"[S"ULYSPV"[ZN"QPTZU[NT[\PQR"]NMU^L"SY"[ZN"c\UR]UL^+""".M" QL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" [ZN" XPSdNT[" aQM" YSPVQRRW" MN[" YSP[Z" cW" QL"

QPTZU[NT[\PQR"TSVXN[U[USLK"[S"aZUTZ"YUON"]NMU^L"TSLMSP[UQ"aNPN"ULOU[N]+"-\["QRPNQ]W"cNYSPN" [ZN" TSVXN[U[USL" [SSb" XRQTNK" MNONPQR" XQP[UTUXQ[USL" QT[UOU[UNM1" Q" M\PONW" QL]"[ZPNN" aSPbMZSXM" ZQ]" [QbNL" XRQTN+" %ZNMN" QT[UOU[UNM" aNPN" SP^QLU_N]" cW" N`[NPLQR"TSLM\R[QL[M"YPSV"6U^LQR".PbU[Nb[NPK"Q"YUPV"SY"!/0'1$++%&$+,-.$0+2K"aZS"ZSR]M"[ZN"YQTURU[Q[USL"SY"NL]"\MNP"XQP[UTUXQ[USL" UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"QM"Q"TNL[PQR"MNPOUTN+"#L"[ZNMN"QT[UOU[UNMK"Q"M\cM[QL[UQR"^PS\X"SY"M[QYY"PNXPNMNL[Q[UONM"aNPN"ULOU[N]"[S" ]UMT\MM" [ZNUP" aSPb" XPQT[UTN" UL" Q" MXQ[UQR" XNPMXNT[UON+" %ZN" S\[TSVN" SY" [ZNMN"XPSTNMMNM"aQM"\MN]"QM"Q"VNQLM"[S"ULYSPV"[ZN"TSVXN[U[USL"cPUNY+"""-QMN]"SL"[ZN"TSVXN[U[USLK"Q"aULLNP"aQM"MNRNT[N]"QL]"[ZN"]NMU^L"XPSTNMM"TS\R]"

TSL[UL\N+"%ZN"QPTZU[NT[\PQR"YUPV"UL" [ZN"aULLUL^"TSLMSP[U\V"aQM"(QLUMZ"QPTZU[NT[M"/2&" .PbU[Nb[NP+" #L" [ZN" YSRRSaUL^" XPSTNMMK" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" [ZN"]NONRSXVNL[" SY" Q" c\UR]UL^" TSLM[P\T[USL" [SSb" XRQTN" QM" [aS" TSLT\PPNL[" XPSTNMMNM+"2NPNK"[ZN"XPSTNMM"]NMU^LNPM"YPSV"6U^LQR".PbU[Nb[NP"VU^Z["cN"MQU]"[S"ZQON"MNPON]"QM"VN]UQ[SPM" cN[aNNL" [ZN" SP^QLU_Q[USLQR" QT[UOU[UNM" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L"XPSTNMM+"#L"[ZUM"aQWK"[ZN"TRUNL["TSLMU]NPN]"[ZN"[aS"XQPQRRNR"XPSTNMMNM"QM"MSVNaZQ["UL[N^PQ[N]g"QM"Q"PNTUXPSTQR"PNMS\PTNK"YPSV"aZUTZ"cS[Z"TS\R]"cNLNYU[+"""%ZN" %SaL" 2QRR" XPSdNT[" aQM" TZQPQT[NPU_N]" cW" Q" PNQMSLQcRW" MNT[USLQRU_N]"

M[P\T[\PNK"UL"aZUTZ"[ZN"PSRNM"aNPN"TRNQP"QL]"[ZN"]NMU^L"XPSTNMMNM"VU^Z["cN"MQU]"[S"ZQON"XPS^PNMMN]"UL"MNh\NLTNM"SY"QT[UOU[WK"[PQLMRQ[USL"QL]"]NMU^L+"2NPNK"SLN"QT[UOU[W"aQM"XRQLLN]"QL]"YQTURU[Q[N]g"[ZN"S\[TSVN"aQM"[PQLMRQ[N]"QL]"[ZNPNcW"[PQLMYNPPN]"[S"[ZN" LN`[" M[NX" UL" [ZN" ]NMU^L" XPSTNMM+" #L"VSM[" ULM[QLTNMK" [ZN" N`[NPLQR" XQP[UNM" bLNa"[ZNUP"PNMXSLMUcURU[W+"%ZN"XRQWNPM"#"ZQON"YST\MN]"SL"UL"[ZUM"M[\]W"QPN"2URRNPe]"QM"[ZN"

9!""

TRUNL["SP^QLU_Q[USLK"6U^LQR".PbU[Nb[NP"QM"[ZN"XPSTNMM"]NMU^LNPK"QL]"/2&".PbU[Nb[NP"QM"[ZN"QPTZU[NT[+""""

&45!K;L9M6!#6C@5!?76E5A=!FAGH!A49?=57!NJ!

%ZN" <UbQ]S" 2S\MN" XPSdNT[" PNXPNMNL[M" (QLUMZ" QPTZU[NT[\PQR" YUPVK" .PbU[NVQHM"Q[[NVX[" [S" ]NMU^L" QL]" NM[QcRUMZ" Q" LNa" ]SVUTURN" YSP" [ZN" YUPVHM" QT[UOU[UNM" UL"*SXNLZQ^NL+".PbU[NVQ"UM"SLN"SY"[ZN"QPTZU[NT[\PQR"YUPVM"UL"(NLVQPb"[ZQ["ZQM"MZSaL"M\cM[QL[UQR"UL[NPNM["UL"MSVN"SY"[ZN"TZQRRNL^NM"[ZQ["[ZN"QPTZU[NT["XPSYNMMUSL"T\PPNL[RW"MNNVM" [S" cN" YQTN]" aU[Z+" ." TRSMNP" RULb" [S" [ZN" TRUNL[" SP^QLU_Q[USL" [ZPS\^Z" VSPN"N`[NL]N]" ULOSRONVNL[" SY" [ZN" NL]" \MNPM" SY" [ZN" c\UR]UL^" UM" c\[" SLN" SY" [ZNMN"TZQRRNL^NM+" #L" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" [ZN" YUPV" QUVN]" [S" N`XRSPN" ZSa" [ZUM"[NL]NLTW" [SaQP]M" Q" TRSMNP" TSRRQcSPQ[USL" cN[aNNL" QPTZU[NT[M" QL]" NL]" \MNPM" TS\R]"cNTSVN"Q"aQW"SY"aSPbUL^"aU[ZUL"[ZN"YUPV+"""%ZN" XPSdNT[" ZNR]" [ZPNN" TNL[PQR" ScdNT[UONM+"%ZN" YUPM["aQM" [S" ]NMU^L" QL]" c\UR]" Q"

ZS\MN" [S" QTTSVVS]Q[N".PbU[NVQHM" QT[UOU[UNM" UL"*SXNLZQ^NL+" %ZN" MNTSL]"aQM" [S"NM[QcRUMZ"Q"LNa"VN[ZS]"[S"cN"QXXRUN]"UL".PbU[NVQHM"XPS]\T["XSP[YSRUS"QL]"QRMS" UL"[ZN" YUPVHM" XPSYNMMUSLQR" XPQT[UTN+" 2NPNK" NL]" \MNP" XQP[UTUXQ[USL" QM" Q" VN[ZS]" aQM"TSLMU]NPN]" QL" UL[N^PQ[N]" XQP[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" =ULQRRWK" QL]"XQPQRRNR" [S" [ZN" ]NONRSXVNL[" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" .PbU[NVQ" QUVN]" [S"\L]NP[QbN"Q"M\cM[QL[UQR"PNTSLYU^\PQ[USL"SY"[ZN"SP^QLU_Q[USLHM"M[P\T[\PQR"YPQVNaSPbK"LS["SLRW"[S"VNN["T\PPNL["MSTUN[QR"PNh\UPNVNL[MK"c\["QRMS"[S"QTTSVVS]Q[N"NL]"\MNP"XQP[UTUXQ[USL"QM"Q"VN[ZS]+"""%ZN"<UbQ]S"2S\MN"XPSdNT["\L]NPaNL[" M\cM[QL[UQR" TZQL^NM" UL" [ZN"TS\PMN"SY" U[M"

NM[QcRUMZVNL[+" (\N" [S" MNONPN" TZQL^NM" UL" [ZN" VQPbN[" TSL]U[USLMK" [ZN" YUPV" YUPM["aU[Z]PNa"QM"ULONM[SPMK"QL]"XPSYNMMUSLQR"XPSXNP[W"]NONRSXNPM"[SSb"SONP"[ZN"XPSdNT[+".M" Q" XQP[" SY" [ZUM" PNM[P\T[\PUL^" SY" [ZN" XPSdNT[HM" cQMUT" M[P\T[\PNK" U["aQM" ULU[UQ[N]" [S"N`XQL]"[ZN"XPSdNT[+"=PSV"cNUL^"QL"SYYUTN"c\UR]UL^"SY"FDBEEE"V9"[S"QTTSVVS]Q[N".PbU[NVQHM"QT[UOU[UNMK"[ZN"XPSdNT["^S["NLRQP^N]"[S"YSPV"aZQ["aQM"TZQPQT[NPU_N]"QM"Q"!.$":'05%#'(+$2"SY"9CEEE"V9K"aZUTZ"TS\R]"QTTSVVS]Q[N" MNONPQR"SP^QLU_Q[USLM+".[" YUPM[K" [ZN" PNMXSLMUcRN" [NQV"SY" QPTZU[NT[M" QL]"XPSTNMM" ]NMU^LNPM" TSL[UL\N]" [ZNUP"aSPb"cQMN]"SL"[ZN"ZU[ZNP[S"TSLTNX[\QR"U]NQ"YSP"Q"]NMU^L"MSR\[USL+"-\["QM"U[" [\PLN]"S\[K"[ZUM"MSR\[USL"aQM"YS\L]"YULQLTUQRRW"\LYNQMUcRN+"3ONL[\QRRWK"[ZN"]NMU^L"[NQV"aQM"PNXRQTN]"QL]"[ZN"XPSdNT["aQM"TSLTNX[\QRRW"PN]NMU^LN]+"-QMN]"SL"[ZNMN"STT\PPNLTNMK"

99""

aN" VU^Z[" ]UOU]N" [ZN" ]NONRSXVNL[M" UL" [ZN"<UbQ]S" 2S\MN" XPSdNT[" UL[S" [aS" VQUL"XZQMNMK"SY"aZUTZ"[ZUM"M[\]W"ZQM"YST\MN]"SLRW"SL"[ZN"YUPM["XZQMN"lTY+"B.m+""%ZN"XPSdNT["M[P\T[\PN"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["TQL"cN"MQU]"[S"cN"TSVXRN`"UL"

[ZN"MNLMN"[ZQ[".PbU[NVQ"XRQWN]"VSM["SY"[ZN"PSRNM"UL"[ZN"XPSdNT[+".M"Q"]NMU^L"XPSTNMM"QL]"QRMS"QM"Q"c\UR]UL^"XPSdNT[K".PbU[NVQ"PNXPNMNL[N]"LS["SLRW"[ZN"TRUNL["QM"ULONM[SP"lUL" [ZN" YUPM[" XNPUS]m" QL]" [ZN" NL]" \MNPK" c\[" QRMS" [ZN" QPTZU[NT[K" PNMXSLMUcRN" YSP" [ZN"QPTZU[NT[\PQR" ]NMU^L" MSR\[USLK" QL]" [ZN" XPSTNMM" ]NMU^LNPK" aZS" YQTURU[Q[N]" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"""

$2%&4$(-!$-(%&")&$2%&$2%4+4&

%ZNMN" UL[PS]\T[SPW"LS[NM" QPN" YSRRSaN]"cW"MU`" TZQX[NPM+"*ZQX[NP"9"S\[RULNM" [ZN"RU[NPQ[\PN" [S"aZUTZ" [ZN" [ZNMUM" QUVM" [S" PNYNP+" =UPM[K" #" Q]]PNMM" [ZN" QPNQ" SY" n6XQTN" UL"SP^QLU_Q[USL" M[\]UNMH" lTY+" 9.m+"%ZN" MNT[USL"]NMTPUcNM"ZSa"SP^QLU_Q[USLQR" MTZSRQPM"ZQON" ]UMT\MMN]" [ZN" SXXSP[\LU[UNM" [ZQ[" MXQTN" QL]" QPTZU[NT[\PN" VU^Z[" ZSR]" QM" Q"TSL[PUc\[USL"[S"[ZN"M[\]W"SY"VQLQ^NVNL["QL]"SP^QLU_Q[USL+"6NTSL]"QL]"[ZUP]K"#"^S"[ZPS\^Z" [ZN" [ZNSPN[UTQR" cS]UNM" [ZQ[" ZQON" ULYSPVN]"VW" QLQRW[UTQR" QXXPSQTZ" [S" [ZN"NVXUPUTQR"VQ[NPUQR1" q6NLMNVQbUL^" UL" SP^QLU_Q[USLMr" lTY+" 9-m" QL]" q.T[SPDLN[aSPb"[ZNSPWr"lTY+"9*m+""*ZQX[NP"C"N`XRQULM"[ZN"VN[ZS]SRS^UTQR"QXXPSQTZ"#"QXXRUN]K"UL"SP]NP"[S"\L]NP[QbN"

[ZN" M[\]W+" 2NPNK" #" ]NMTPUcN" VW" XPSTNMM" SY" NL[NPUL^" [ZN" YUNR]" QL]" ]NMU^LUL^" [ZN"PNMNQPTZ" XPSdNT[+" -W"VN[ZS]SRS^WK" #"VNQL" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZN" PNMNQPTZ"h\NM[USL"[ZN"[ZNMUM"QUVM"[S"Q]]PNMMK"[ZN"VN[ZS]M"#"ZQON"\MN]"UL"SP]NP"[S"N`XRSPN"[ZUM"h\NM[USLK" QL]" [ZN" [ZNSPN[UTQR" TSLTNX[M" #" ZQON" \MN]K" QM" Q" VNQLM" [S" QLQRW_N" [ZN"NONL[M+" #L" [ZN" TZQX[NP" #" URR\M[PQ[N" ZSa" [ZNMN" YQT[SPM" VU^Z[" cN" MQU]" [S" ZQON" cNNL"UL[NPaSONL"UL"[ZN"XPSdNT[K"UL"[ZN"MNLMN"[ZQ["[ZNW"NVNP^N]"QTTSP]UL^RWK"SL"[ZN"cQMUM"SY" [ZN" NONL[M" [ZQ[" [SSb" XRQTN" UL" [ZN" NVXUPUTQR" XPSdNT[M+" .RMSK" #" N`XRQUL" ZSa" [ZN"VN[ZS]MK" LS[" SLRW" PNXPNMNL[N]" Q" LQOU^Q[SP" UL" [ZN" YUNR]K" c\[" QRMS" ULYSPVN]" [ZN"M\cMNh\NL["QLQRW[UTQR"XPSTNMM+"""

9C""

#L"*ZQX[NP";K"#"VQbN"Q"MZSP[" UL[PS]\T[USL"[S"[ZN"QPTZU[NT[\PN"XPSYNMMUSL"QL]"[S"ZSa"[ZN"YUNR]"SY"QPTZU[NT[\PQR"]NMU^L"TQL"cN"MQU]"[S"cN"YQTUL^"M\cM[QL[UQR"TZQRRNL^NM"UL"[ZN"T\PPNL["TRUVQ[N+"2NPNK"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"VU^Z["cN"SLN"SY"[ZN"TZQRRNL^NM"[ZQ["QXXNQP"[S"ULOSRON"]UYYNPNL["OUNaXSUL[M"QL]"TNP[QUL"[NLMUSLMK"aZUTZ"QPN"cNUL^"UL]UTQ[N]"UL"[ZN"TZQX[NP+"""*ZQX[NPM" F" QL]" B" PNXPNMNL[" [ZN" QLQRWMNM" SY" [ZN" [aS" NVXUPUTQR" XPSdNT[MK" \XSL"

aZUTZ" [ZN" [ZNMUM" UM"cQMN]" l[ZN"%SaL"2QRR" XPSdNT[" QL]" [ZN"<UbQ]S"2S\MN"XPSdNT[K"PNMXNT[UONRWm+"3QTZ"TZQX[NP"UM"]UOU]N]"UL[S"[ZPNN"XQP[M1"QL"NVXUPUTQR"]NMTPUX[USL"lF."QL]"B.mK"QM"aNRR"QM"SLN"QLQRWMUM"cQMN]"SL"MNLMNVQbUL^"TSLTNX[M"QL]"SLN"SL"QT[SPDLN[aSPb"[ZNSPW+"""#L"MNT[USL"F-"#"YST\M"SL"[ZN"[NLMUSL"cN[aNNL"SLN"[ZN"%SaL"2QRR"XPSdNT[HM"cQMUT"

XPNVUMNM"l[ZN"M[P\T[\PQR"XPULTUXRN"SY"QL"SXNL"SYYUTN"RQWS\[m"QL]"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"Q"TSLTNX[+"#L"aZQ["aQW"VU^Z["[ZN"XQP[UTUXQ[USL"UL"YQT["cN"MQU]"[S" ULYR\NLTN" [ZN"]NMU^L"SY" [ZN"SYYUTN"c\UR]UL^o" #L" MNT[USL"F*K" #" URR\M[PQ[N"ZSa" [ZN"XQP[UTUXQ[USL" QT[UOU[UNM" VU^Z[" cN" MQU]" [S" ZQON" ULYR\NLTN]" [ZN" QPTZU[NT[\PQR" ]NMU^L"]UPNT[RW+" %ZPS\^Z" TSVXRN`" XPSTNMMNM" SY" LN^S[UQ[USLK" Q" M[QYY"VNVcNP" M\TTNN]M" UL"ULU[UQ[UL^"Q"PN]NMU^L"SY"Q"TNP[QUL"QPTZU[NT[\PQR"ScdNT["UL"[ZN"[SaL"ZQRR1"[ZN"NL[PQLTN"TS\L[NP"UL"[ZN"PNTNX[USL"QPNQ+"""#L" MNT[USL" B-K" #" ]UMT\MM" Q" [NQV" SY" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPM" UL" [ZN"

<UbQ]S"2S\MN"XPSdNT["UL"[ZNUP"Q[[NVX[M"[S"TSRRQcSPQ[NK"UL"Q"]NMU^L"XPSTNMM"[ZQ["ZNR]"[ZN" S\[TSVN" SY" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QM" Q" TNL[PQR" ULX\[+" #L" MNT[USL" B*" #"]UMTRSMN"ZSa"QL"QT[\QR"QPTZU[NT[\PQR"]NMU^L"MSR\[USL"NVNP^N]"UL"[ZN"XPSdNT[g"aZNPN"U[" TQVN" YPSV" QL]" ZSa" U[" ]NONRSXN]+" 'L" [ZN" cQMUM" SY" [ZN"VN[QXZSP" SY" Q" ZNRU`K" #"URR\M[PQ[N" QL]" ]UMT\MM" ZSa" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" VU^Z[" cN" MQU]" [S" ZQON"ULYSPVN]"QL]"ULYR\NLTN]"[ZN"]NONRSXVNL["SY"[ZN"]NMU^L"TSLTNX[+""""#L" TZQX[NP" ?" #" ]UMT\MM" aZQ[" [ZNMN" M[SPUNM" VU^Z[" ZQON" [SR]" \M" QcS\[" [ZN"

XZNLSVNLQ"Q["M[QbN"UL"[ZN"M[\]W1"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"2NPNK" #" ^S" [ZPS\^Z" [ZN" TNL[PQR" YUL]UL^M" QL]" PNRQ[N" [ZN"XS[NL[UQR"TSL[PUc\[USL"[S"[ZN"N`UM[UL^"RU[NPQ[\PN"UL"[ZN"YUNR]+""" "

9;""

"#$%&'(!O*!&#'!3.&'($&1('!

"

+#$(",-!$+"#&&

#L"[ZUM"TZQX[NPK"#"QUV"[S"]NMTPUcN"[ZN"RU[NPQ[\PN"#"PNYNP"[S"UL"[ZN"[ZNMUM+"#"]UOU]N"[ZN"]NMTPUX[USL" UL" [ZPNN" XQP[M+" =UPM[K" #" S\[RULN" MSVN" QMXNT[M" SY" [ZN" QPNQ" aU[ZUL"SP^QLU_Q[USL" M[\]UNM" [ZQ[" [ZN" [ZNMUM" QUVM" [S" TSL[PUc\[N" [SK" [ZQ[" SY" n6XQTN" UL"SP^QLU_Q[USL"M[\]UNMH" lMNT[USL"9.m+"6NTSL]"QL]" [ZUP]K" #"^S" [ZPS\^Z" [ZN" [ZNSPN[UTQR"TSLTNX[M" #" ZQON" QXXRUN]" UL" QLQRW_UL^" [ZN" NVXUPUTQR" VQ[NPUQR" UL" [ZN" M\cMNh\NL["TZQX[NPM+" %ZNMN" QPN" XPUVQPURW" cPS\^Z[" UL" YPSV" [ZN" QPNQM" SY" n6NLMNVQbUL^" UL"SP^QLU_Q[USLMH"lMNT[USL"9-m"QL]"n.T[SPDLN[aSPb"[ZNSPWH"lMNT[USL"9*m+""".M"XSUL[N]"S\["QcSONK"VW"XPUVQPW"QMXUPQ[USL"aU[Z"[ZUM"aSPb"UM"[S"TSL[PUc\[N"[S"

[ZN"QPNQ"SY"n6XQTN"UL"SP^QLU_Q[USL"M[\]UNMH+"6XQTN"VU^Z[K"QM"Q"XZNLSVNLSLK"cN"MQU]"[S" PNXPNMNL[" Q" cPSQ]" YUNR]" [ZQ[" ZSR]M" VQLW" XS[NL[UQR" XNPMXNT[UONM+" ." L\VcNP" SY"TSL[PUc\[USLM"ZQON"cNNL"VQ]NK"UL"SP]NP"[S"cPUL^"[ZUM"XZNLSVNLSL"UL[S"SP^QLU_Q[USL"M[\]UNM+"'L"[ZUM"cQMUMK"[ZN"S\[RULN"cNRSa"MZS\R]"cN"MNNL"QM"Q"XPSOUMUSLQR"]NMTPUX[USL"SY"Q"YNa"QXXPSQTZNM"[S"ZSa"MXQTN"TQL"cN"cPS\^Z["UL[S"SP^QLU_Q[USL"M[\]UNMK"PQ[ZNP"[ZQL"[ZQ["SY"Q"PN^\RQP"SONPOUNaA%.RMSK"[ZN"MNT[USL"ZSR]M"Q"cPUNY"UL[PS]\T[USL"[S"[ZN"QPNQ"SY"SP^QLU_Q[USLQR"]NMU^LK"QL]"[S"SLN"SY"[ZN"VSPN"PNTNL["QXXPSQTZNM"[S"TQX[\PN"[ZUM" XS[NL[UQR" RULb" cN[aNNL"SP^QLU_Q[USLK"]NMU^L" QL]" QPTZU[NT[\PN1"%ZN" TSLTNX[\QR"U]NQ"SY"<QLQ^UL^"QM"(NMU^LUL^+""".Y[NP" [ZUM" XPSOUMUSLQR" S\[RULNK" #" [\PL" [S" [ZN" [aS" [ZNSPN[UTQR" TSLTNX[M" [ZQ[" ZQON"

XQP[UT\RQPRW" ULMXUPN]" VW" QXXPSQTZ" UL" [ZUM" M[\]W+" #L" VW" Q[[NVX[" [S" ]UMT\MM" QL]"TSVXPNZNL]" Q" YNa" SY" [ZN" UVXRUTQ[USLM" [ZQ[" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL"QT[UOU[UNM" MNNVM" [S" XPSOU]N" [S" [ZNMN" TSLT\PPNL[" XPSTNMMNM" SY" SP^QLU_Q[USLQR" QL]"QPTZU[NT[\PQR" ]NMU^LK" #" ZQON" YS\L]" TR\NM" QL]" XPSOUMUSLQR" QLMaNPM" UL" [ZN" QPNQM" SY"

9F""

n6NLMNVQbUL^"UL"SP^QLU_Q[USLMH"QL]"n.T[SPDLN[aSPb"[ZNSPWH+"#["UM"UVXSP[QL["[S"LS[N"[ZQ["[ZNMN"[aS"QXXPSQTZNM"M\cM[QL[UQRRW"]UYYNP+"%ZN"MNLMNVQbUL^"QXXPSQTZ"UM"cQMN]"SL" Q" TS^LU[UON" YS\L]Q[USLK" UL"aZUTZ"VNQLUL^" UM" MSVN[ZUL^" [ZQ[" UM" NM[QcRUMZN]" UL"XNSXRNHM"ZNQ]M"cQMN]"SL"[ZNUP"N`XNPUNLTN"SY"[ZN"MSTUQR"NONL[M"[ZNW"QPN"M\cdNT[N]"[S"UL"[ZNUP"XPQT[UTN+".T[SPDLN[aSPb"[ZNSPWK"SL"[ZN"S[ZNP"ZQL]K"UM"PQ[ZNP"YST\MN]"SL"[ZN"PNRQ[USLMZUXM"cN[aNNL"[ZN"Z\VQL"QL]"MSDTQRRN]"LSLDZ\VQL"qQT[SPMr+"2NPNK"VNQLUL^"VU^Z["cN"MQU]"[S"cN"YSPVN]"UL"[ZN"TSL[N`[\QR"PNRQ[USLMZUXM"cN[aNNL"[ZNMNK"aZURN"[ZN"TSVXSLNL[M"[ZNVMNRONM"]S"LS["TSL[QUL"qNMMNLTNr"SP"UL]NXNL]NL["VNQLUL^+"""#["MZS\R]"cN"LS[N]"[ZQ["[ZN"XZNLSVNLSL"[ZQ["VQbNM"\X"[ZN"XPUVQPW"MTNLN"SY"[ZUM"

M[\]W1"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMK"QRMS"PNYNPM"[S"Q"M\cM[QL[UQR"cS]W"SY" RU[NPQ[\PN+" #L" [ZN" [aS"NVXUPUTQR"XPSdNT[MK" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM" MNNV" [S" cN" ULMXUPN]" cW" MNONPQR" VN[ZS]SRS^UTQR" QL]ISP" [ZNSPN[UTQR"[PQ]U[USLM+" 6SVN" SY" [ZNMN" QPN" MTUNL[UYUT" QPNQMK" aZURN" S[ZNPM" QPN" PQ[ZNP"VN[ZS]SRS^UTQR"TSLTNX[M"SP"XPQT[UTQR"[SSRM+"."YNa"SY"[ZN"TNL[PQR"[PQ]U[USLM"[ZQ["ZQON"ULYSPVN]"[ZN"]NONRSXVNL["SY"M\TZ"Q"XZNLSVNLSL"MNNV"[S"cN"nXQP[UTUXQ[SPW"]NMU^LH"lN+^+"0PNNLcQ\V"QL]"/WL^"!AACK"6TZ\RNP"QL]"$QVUSbQ"!AACmK" nZ\VQL"TSVX\[NP"UL[NPQT[USLH" lN+^+" .L]NPMSL" !AA;K" (S\PUMZ" 9EEBmK" nN[ZLS^PQXZWH" lN+^+" -RSVcNP^"!AACK"=SPMW[ZN"!AAAK"#ONW"QL]"6QL]NPM"9EEBmK"nLNa"aQWM"SY"aSPbUL^H"lN+^+"(\YYW"!AA?K" -dNPP\V" QL]" $UNRMNL" 9EECK" (\YYW" QL]" 7SP[ZUL^[SL" 9EE;mK" n\MNPD]PUONL"ULLSOQ[USLH" lN+^+" OSL" 2UXXNR" 9EE?m+" 6NONPQR" SY" [ZN" QXXPSQTZNM" [QbN" [ZN" \MNP"XNPMXNT[UON" QM" Q" XSUL[" SY" ]NXQP[\PNK" YST\MUL^" SL" ZSa" NMXNTUQRRW" [ZN" ]NMU^L" SY"TSVX\[NP" MWM[NVM" VQW" NLZQLTN" aSPbXRQTN" TSL]U[USLMK" XPQT[UTNMK" XPSTNMMNM" QL]"TSRRQcSPQ[USLM+"#L"[ZUM"M[\]WK"[ZN"]NMU^L"ScdNT[M"[ZQ["aNPN"]NONRSXN]"cW"[ZN"VNQLM"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"LS["TSVX\[NP"MWM[NVMK"c\["PQ[ZNP"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"TSLM[U[\[USLM+"7ZNL"#"VNL[USL"[ZNMN"MS\PTNM"ZNPNK"U["UM"[Z\M"aU[Z" PNYNPNLTN" [S" [ZN" cQTb^PS\L]" SY" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" UL" [ZN" NVXUPUTQR"XPSdNT[M+""

9B""

4%!$+"#&;*1&4'*!%&+#&"(0*#+9*$+"#&4$-,+%4&

2?9A5!9@!9!P59:@!=6!;:G67P!P9:985P5:=!9:M!6789:;<9=;6:!

q6XQTN" ZQM" QRaQWM" cNNL" Q" Y\L]QVNL[QR" ]UVNLMUSL" SY" RUOUL^" cNUL^M" QL]K" SY"TS\PMNK"SY"[ZN"Z\VQL"N`XNPUNLTN+".M"Q"RST\M"SY"cUSRS^UTQR"M\POUOQRK"XMWTZSRS^UTQR"N`UM[NLTN" QL]" MSTUQcURU[WK" MXQTN" UM" Q" bNW" UMM\N" YSP" Z\VQL" SP^QLUMQ[USLr" l*ZQLRQ["9EEBm+"(NMXU[N" [ZUM" Y\L]QVNL[QR" XSMU[USLK" U[" UM" QRMS" QTbLSaRN]^N]" [ZQ[" MXQTN" ZQM"LS[" cNNL" XPSXNPRW" PNTS^LU_N]" UL" SP^QLU_Q[USL" [ZNSPW" lN+^+"0Q^RUQP]U" !AA!K"2Q[TZ"!AA?K"8QLSa" !AA,K"-\PPNR" QL]"(QRN" 9EECK"2NPLNM" 9EECK"*RN^^" QL]"/SPLcNP^NP"9EEBK" OQL" <QPPNaUdb" 9EEAm+" .L]" QM" VQLQ^NPM" MNNV" [S" ZQON" YS\L]" ULTPNQMUL^"UL[NPNM["UL"[ZN"MXQ[UQR"M[P\T[\PN"SY"SP^QLU_Q[USLQR"XPQT[UTNK"MTZSRQPM"aU[ZUL"[ZN"YUNR]"SY" SP^QLU_Q[USL" M[\]UNM" ZQON" QRMS" TSVN" [S" YST\M" SL" [ZN" UMM\N" lN+^+" -NTbNP" !A,!K"2Q[TZ" !A,?K" !AA?K" >QZL" !AA!K"0Q^RUQP]U" !AA!K"-NTbNP" QL]" 6[NNRN" !AAFK"8QLSa"!AAFK" !AA,K"2SP^NL" N[" QR+" !AAAK"7NUTb" 9EECK"-\PPNR" QL]"(QRN" 9EECK"/PUM[NLMNL"QL]"0PeLZQ\^"9EECK"-SRQL]"QL]"*SRRSXW"9EE;K"/SPLcNP^NP"QL]"*RN^^"9EECK"9EE;K"2NPLNM" 9EECK" 9EE;K" (QRN" 9EEFK" *RN^^" QL]" /SPLcNP^NP" 9EEBK" 8SS" N[" QR+" 9EEBK"3aNLM[NUL"QL]"7ZW[N"9EE?K"%QWRSP"QL]"6XUTNP"9EE?K"3RMcQTZ"QL]"4PQ[["9EE,K"OQL"<QPPNaUdb"9EEAm+"""%ZNMN"TSL[PUc\[USLM"MNNV"[S"PNXPNMNL["]UYYNPNL["QXXPSQTZNM"[S"ZSa"MXQTN"VQ[[NP"

[S"VQLQ^NVNL[+"6SVN"M[\]UNM"YST\M"XPUVQPURW"SL"[ZN"MXQ[UQR"RQWS\["SY"[ZN"c\UR]UL^"lN+^+"-NTbNP"!A,!K"2Q[TZ"!A,?K">QZL"!AA!K"-NTbNP"QL]"6[NNRN"!AAFK"2SP^NL"N["QR+"!AAAK"2QLMNL"9EE?m"QL]"SL"ZSa"bLSaRN]^N"QcS\["[ZN"XZWMUTQR"MN[[UL^"TQL"M\XXSP["Q"VSPN"[ZSPS\^Z"\L]NPM[QL]UL^"SY"cNZQOUSP"QL]"PNRQ[USLMZUX"aU[ZUL"SP^QLU_Q[USLQR"TSL[N`[M+" '[ZNPM" Q[[NL]" [S" MXQTN" QM" MWVcSRUT" TQPPUNPM" SY" VNQLUL^" [ZQ[" XPS]\TN"SP^QLU_Q[USLQR"U]NL[U[W"lN+^+"0Q^RUQP]U"!AA!K"2Q[TZ"!AA?K"8QLSa"!AAFK"!AA,K"-\ZR"4N]NPMNL"9EEBmK"QL]"S[ZNPM"Q^QUL"M\^^NM[" [ZQ["MXQTN"QL]"QPTZU[NT[\PQR"QMXNT[M"TQL"cN"\MN]"QM"VNQLM"[S"TSVV\LUTQ[N"QL]"[Z\M"M\XXSP["RN^U[UVQTW"UL"]NTUMUSL"VQbUL^"lN+^+"%PN`RNP"4PSYYU[["QL]">QZL"9EEBm+"%ZN"QP^\VNL["ZNPN"UM"[ZQ["TSZNPNLTN"cN[aNNL"[ZN" MXQ[UQR" RQWS\[" [ZQ[" QTTSVVS]Q[NM" XPQT[UTN" QL]" [ZN" SP^QLU_Q[USLHM" QMXUPQ[USLM"QL]" M[PQ[N^UT" VNMMQ^NMK" aURR" M\XXSP[" TPN]UcURU[W" YSP" [ZN" RQ[[NP+" 3RMcQTZ" QL]" 4PQ[["l9EE,m"XPSOU]N" Q"ZNRXY\R"SONPOUNa"SY" [ZN" TSL[PUc\[USLM" [ZQ[" TSLTNPL" QMXNT[M" [ZQ[K"QVSL^" S[ZNP" [ZUL^MK" PN^QP]" [ZN" PNRQ[USLMZUX" cN[aNNL" qSXNLDXRQL" SYYUTNr" QL]"

9?""

qT\cUTRNMr+"2NPNK"[ZN"RU[NPQ[\PNK"UL"]UYYNPNL["aQWMK"TSLTNPLM"YQT[SPM"M\TZ"QM"XPUOQTWK"N`XSM\PNK"LSUMN"QL]" [ZN"\MN"SY"XZWMUTQR"cQPPUNPM"SP"XQP[U[USLM" l'R]ZQV"QL]"-PQMM"!A?AK">QZL"!AA!K"-dNPP\V"QL]"$UNRMNL"9EECK".VZed"9EE;K"(\YYW"QL]"7SP[ZUL^[SL"9EE;K"2QLMNL"9EE?m+""6SVN" TSL[PUc\[SPM" YST\M" SL" MXQTN" QM" Q" TSLM[U[\[UL^" YQT[SP" UL" [ZN" XSaNP"

M[P\T[\PNM"UL"SP^QLU_Q[USLMK"SY[NL"cQMN]"SL"MSTUSRS^UM["[PQ]U[USLM"lN+^+"=S\TQ\R[m"QL]"QPTZU[NT[\PQR" [ZNSPW"lN+^+"2URRUNP"SP"<QPb\Mm"l*RN^^"QL]"/SPLcNP^NP"9EEBK".VZed"9EE;mK"aZURN" S[ZNPM" Q[[NL]" [S" ZSa" [ZN" \MN"SY" Q"VQ[NPUQR" XNPMXNT[UON" TQL"SYYNP" QL"N`[NL]N]" \L]NPM[QL]UL^" SY" TSL[PSR" UL" SP^QLU_Q[USLQR" TSL[N`[M" lN+^+" (QRN" 9EEFm+"<SOUL^" [SaQP]M" Q" VSPN" nXZURSMSXZUTQRH" QXXPSQTZ" [S" aZQ[" MXQTN" VNQLM" UL"SP^QLU_Q[USLQR"TSL[N`[MK"MSVN"TSL[PUc\[SPM"QXXPSQTZ"U["QM"Q"cPSQ]NP"TSLTNX[K"aZUTZ"SYYNPM" ]UYYNPNL[" aQWM" SY" XNPTNUOUL^" SP^QLU_Q[USLQR" RUYN" QL]" XPQT[UTN" lN+^+" 2NPLNM"9EECK"9EE;K"/SPLcNP^NP"QL]"*RN^^"9EECK"9EE;K"2NPLNM"N["QR+"9EEBm+"2NPNK"[ZN"YST\M"UM"LS["SLRW"SL"[ZN"XZWMUTQRK"c\["QRMS"SL"[ZN"MSTUQR"QL]"VNL[QR"RNONRM+"-QMN]"SL"[ZN"ULZNPU[QLTN" SY" MSTUSRS^UM[" 2NLPU" 5NYNcOPN" QL]" QRMS" QPTZU[NT[\PQR" [ZNSPUM[M" -URR"2URRUNP" QL]" J\RUNLLN" 2QLMMSL" MXQTN" UM" XNPTNUON]" QM" Q" TSL[UL\S\M" XPSTNMM" [ZQ["qNVcS]UNM"]\QRU[W"cN[aNNL"cNTSVUL^"QL]"cNUL^"cW"cNUL^"cS[Z"[ZN"ScdNT["QL]"[ZN"VNQLM"SY"TSLM[P\T[USLr"l2NPLNM"9EEC1"9?Am+"."XQP["SY"[ZUM"[PQ]U[USL"VU^Z["cN"MQU]"[S"UL]UTQ[N"[ZQ["MXQTN"QL]"MSTUQR"PNRQ[USLM"VU^Z["V\[\QRRW"TSLM[U[\[N"NQTZ"S[ZNP"UL"Q"TRSMNP"PNRQ[USLMZUX"l-\PPNRR"QL]"(QRN"9EECm+"2NPNK"U["UM"M\^^NM[N]"[ZQ["qQPTZU[NT[\PQR"QPPQL^NVNL[M" QT[UONRW" TSLM[P\T[" [ZN" N`XNPUNLTNM" QL]" M\cdNT[UOU[UNM" SY" ]UYYNPNL["^PS\XM" SY" XNSXRN" UL" ]UYYNPNL[" aQWMr" lUcU]1" !?Am+" -\[" aU[Z" PNYNPNLTN" cQTb" [S" [ZN"MWVcSRUT" QXXPSQTZ" QL]" QRMS" [S" [ZN" XSaNP" M[P\T[\PN" [PQ]U[USLK" [ZNW" TSLMU]NP" [ZN"PNRQ[USLMZUX"cN[aNNL"MXQTN"QL]"MSTUQR"PNRQ[USLM"QM"cNUL^"cQMN]"SL"VQLUX\RQ[USL+"""<SOUL^" [SaQP]M" [ZN"QPTZU[NT[\PQR"XNPMXNT[UONK" UL"PN^QP]M" [S"aZQ["QPTZU[NT[M"]S"

QL]"ZSa"[ZUM"VU^Z["ULYSPV"SP^QLU_Q[USLQR"XPQT[UTNK"QPTZU[NT[\PQR"MTZSRQPM"ZQON"QRMS"MZSaL" ULTPNQMUL^" UL[NPNM[" UL" [ZN" SP^QLU_Q[USLQR" XNPTNX[UON+" #L" ZUM" ]PQY[" YSP" Q"TSL[PUc\[USL" [S" [ZN" cPU]^UL^" SY" QPTZU[NT[\PQR" ]NMU^L" QL]" VQLQ^NVNL[K" %_SLUM"QTbLSaRN]^NM"[ZQ["QPTZU[NT[\PQR"]NMU^L"[SSRM"TQL"^NLNPQRRW"cN"XNPTNUON]"QM"NMS[NPUT"QL]" QM" qLS[SPUS\MRW" U]USMWLTPQ[UT" aSPbUL^" [PQ]U[USLM" [ZQ[" NL^Q^N" ONPW" RU[[RN"\L]NPM[SS]" UL[NRRNT[\QR" [SSRM" sptr+"(NMXU[N"SY" [ZUM"ScMNPOQ[USLK"ZN"XSUL[M"S\[" [ZQ["[ZNMN" ONPW" MQVN" ]NMU^L" MbURRM" QPN" \LUh\NK" QL]" MZS\R]" cN" QXXRUN]" QL]" T\R[UOQ[N]"aU[ZUL" S[ZNP" YUNR]M+" 2N" M\^^NM[M" [ZQ[" QPTZU[NT[\PQR" aQWM" SY" aSPbUL^" TS\R]" cN"cNLNYUTUQR"UL"VQLQ^NVNL["QL]"SP^QLU_Q[USLQR"]NONRSXVNL[+"2NPNK"[ZN"NM[QcRUMZVNL["

9,""

SY"VN[QXZSPM"QL]"QLQRS^UNM"lqQLQRS^UTQR"PNQMSLUL^rm"UM"XPSXSMN]"QM"QL"QXXPSQTZ"[S"XPScRNV"MSROUL^"UL"SP^QLU_Q[USLMK"UL"PN^QP]M"[S"XSaNP"M[P\T[\PN"QL]"TSL[PSR"l%_SLUM"9EE!1" Fm+" .RMSK" ZN" M\^^NM[M" [ZQ[" [ZN" ]NONRSXVNL[" QL]" \MQ^N" SY" QPTZU[NT[\PQR"MbN[TZNM"TQL"cN"ZNRXY\R"[S"VQLQ^NPMK"[ZPS\^Z"[ZN"TSLTNX["SY"qOUM\QR"PNQMSLUL^r+"2N"XSUL[M"S\["[aS"XPScRNVM"UL"PN^QP]M"[S"aSPbUL^"VSPN"TRSMNRW"aU[Z"MbN[TZNM+"=UPM[K"ZN"QTbLSaRN]^NM" [ZQ[" [ZN" TSVXRN`U[W" SY" [PQLMRQ[UL^" MbN[TZNM" QL]" ]UQ^PQVM" aS\R]"PNXPNMNL[" Q" M\cM[QL[UQR" TZQRRNL^N" [S" VQLQ^NPM" SP" S[ZNPM" UL" [ZN" YUNR]" SY"SP^QLU_Q[USLQR" XPQT[UTN+" %ZUM" UM" QL" QcURU[W" [ZQ[" ZQM" NOSRON]" aU[ZUL" QPTZU[NT[\PQR"]NMU^L" YSP" TNL[\PUNM" QL]" [ZQ[" PNXPNMNL[M" QTT\V\RQ[N]" bLSaRN]^NK" ]UYYUT\R[" [S"]UMMNVULQ[N" [S" RQWVNL" M\TZ" QM" VQLQ^NPM+" .]]N]" [S" [ZUM" TSVNM" [ZN" YQT[" [ZQ["MbN[TZNM" QPN" qY\__Wr+" %ZNW" ]NVQL]" Q" M\cM[QL[UQR" SONPOUNa" YPSV" [ZSMN" aZS" \MN"[ZNVK"aU[Z"PN^QP]M"[S"ZSa"[ZNW"TSPPNMXSL]"aU[Z"Y\LT[USLQRU[W"QL]"QT[\QR"XPQT[UTN+"2SaNONPK"ZN"QRMS"UL]UTQ[NM"[ZQ["M\TZ"[SSRM"TQL"cN"\MN]"QM"TSLONPMQ[USL"XUNTNM1".M"XSUL[M"SY"]NXQP[\PN"YSP"TSLONPMQ[USLM"QL]"S[ZNP"[WXNM"SY"]NONRSXVNL[QR"XPSTNMMNM+"2NPNK"MbN[TZNM"TQL"cN"MNNL"qQM"ULM[P\VNL[M"YSP"]NMU^L"]NcUQMUL^r"QL]"QRMS"QM"VNQLM"[S"TSVXQPN"QL]"NOQR\Q[N"]UYYNPNL["XZQMNM"SY"Q"XPSdNT["l%_SLUM"9EE!1"Bm+"""

&45!>9AL!6G!5P?;7;A9>>Q!R9@5M!@=CM;5@!

.M" YSP" VN[ZS]SRS^WK" QL" QXXPSQTZ" [ZQ[" MNNVM" [S" RQTb" UL" [ZN" RU[NPQ[\PN" UM"NVXUPUTQRRW" cQMN]" TQMN" M[\]UNM" [ZQ[" RSSb" UL[S" [ZN" MXQ[UQR" XNPMXNT[UONM" SY" ZSa"XPQT[UTN"QT[\QRRW"ZQXXNLM"UL"SP^QLU_Q[USLQR"TSL[N`[M+"2NPNK"N[ZLS^PQXZUTQRRW"cQMN]"M[\]UNM"VU^Z["XPSOU]N"QL"SXXSP[\LU[W"[S"N`XRSPN"[ZN"UL[NPMNT[USL"cN[aNNL"MXQTN"QL]"QPTZU[NT[\PNK"SL"[ZN"SLN"ZQL]K"QL]"SP^QLU_Q[USLQR"XPQT[UTNK"SL"[ZN"S[ZNP+"8QLSa"ZQM"TSL[PUc\[N]"[S"[ZUM"[ZPS\^Z"ZNP"NVXUPUTQR"M[\]UNM"SY"V\MN\V"MXQTNM"l8QLSa"!AA,m+"#L"[ZNMN"M[\]UNMK"MZN"N`XRSPNM"MXQTN"QM"Q"XPS]\TNP"SY"M[SPUNM"QL]"[ZN"RULb"cN[aNNL"[N`[M" QL]" c\UR]UL^M+" #L" [ZN" PNRQ[USLMZUX" cN[aNNL" aSPb" MXQTN" QL]" SP^QLU_Q[USLQR"XPQT[UTNK" qMXQTN" M[SPUNMr" TSL[PUc\[N" [S" XPS]\TN" bLSaRN]^N" QcS\[" SP^QLU_Q[USLQR"TSL[N`[M"l#cU]K"!AAFm+".RMSK"ZNP"M[\]UNM"TSL[PUc\[N"[S"PNYRNT["SL"[ZN"PNMNQPTZNPHM"PSRN"QM"N[ZLS^PQXZNP"UL"M\TZ"MN[[UL^M"SY"M[SPW"XPS]\T[USL"QL]"SY"ZSa"[ZN"PNMNQPTZNP"UL"[ZUM"aQW"VU^Z[" cN" MQU]" [S" TSL[PUc\[N" [S" QL]ISP" TSLM[U[\[N" SP^QLU_Q[USLQR"VNQLUL^"l8QLSa"!AA,m+""".LS[ZNP" QXXPSQTZ" [ZQ[" QUVM" [S" cPUL^" QPTZU[NT[\PQR" QMXNT[M" UL[S" SP^QLU_Q[USLQR"

TSL[N`[M" UM" XPSOU]N]" cW" 3aNLM[NUL" QL]" 7ZW[NK" aZS" N`XRSPN" [ZN" TSLTNX[" SY"qQNM[ZN[UT" bLSaRN]^Nr" [ZPS\^Z" QL" N[ZLS^PQXZUT" M[\]W" SY" [ZN" XPQT[UTN" UL" QL"

9A""

QPTZU[NT[\PQR"YUPV+"2NPNK" [ZNW"]UMT\MM"ZSa"bLSaRN]^N"[ZQ["UM"NVcS]UN]"QL]"cQMN]"SL"[ZN"MNLMNM"TQL"PNXPNMNL["aQWMK"[ZPS\^Z"aZUTZ"QL"SP^QLU_Q[USL"RNQPLM"[S"SP^QLU_N"U[M"XPSYNMMUSLQR"XPQT[UTNK"c\UR]"\X"TSVXN[NLTUNMK"QL]"VSPN"l3aNLM[NUL"QL]"7ZW[N"9EE?m+" -W" XPSXSMUL^" Q" RULb" cN[aNNL" [ZNSPN[UTQR" TSLTNX[M" RUbN" qQNM[ZN[UT"bLSaRN]^Nr"SP"qQNM[ZN[UT"PNYRNT[USLrK"SL"[ZN"SLN"ZQL]K"QL]"q[ZN"RUON]"N`XNPUNLTNr"SY" aZQ[" XNSXRN" ]S" UL" QL" QPTZU[NT[\PQR" XPQT[UTNK" SL" [ZN" S[ZNPK" [ZNW" ]UMT\MM" ZSa"bLSaRN]^N"QL]"RNQPLUL^"UM"XPS]\TN]"UL"[ZNMN"[WXNM"SY"SP^QLU_Q[USLQR"TSL[N`[M+"""#L"[ZNUP"NVXUPUTQR"M[\]W"SY"QPTZU[NT[\PQR"YUPV"0NZPW"4QP[LNPM"554HM"QXXPSQTZ"[S"

TRUNL[" TSRRQcSPQ[USLK" 8SS" N[" QR+" M\^^NM[" Q" RULb" cN[aNNL" [ZN" NVNP^NLTN" SY" QL"QPTZU[NT[\PQR" ]NMU^L" MSR\[USL" QL]" [ZN" SP^QLU_Q[USLQR" ]NMU^L" SY" [ZN" TRUNL["SP^QLU_Q[USL+" 2NPNK" U[" UM" M\^^NM[N]" [ZQ[" [ZN" TSVcULQ[USL" cN[aNNL" [ZNMN" [aS"XPSTNMMNM" ]NONRSX" Q" q]NMU^L" ^NM[QR[r" [ZQ[" XS[NL[UQRRW" YSPV" Q" q^NLNPQ[UON" YSPTN"[ZPS\^Z"aZUTZ"SP^QLU_Q[USLM"TQL"MUV\R[QLNS\MRW"X\PM\N"OQPUN[W"QL]"\LU[W" UL" [ZNUP"SP^QLU_Q[USL" ]NMU^LUL^" XPQT[UTNMr" l8SS" N[" QR+" 9EEB1" 9!Bm+" %ZN" M[\]W" XPSXSMNM" Q"L\VcNP"SY"^NLNPQR"XPULTUXRNM"SY"ZSa"SP^QLU_Q[USLQR"]NMU^LUL^"TQL"TSVN"QcS\[K" UL"[ZN"PNQRV"SY"QPTZU[NT[\PQR"XPSdNT[MK"QL]"UM"TRSMNRW"TSLLNT[N]"[S"[ZN"TSLTNX[\QR"U]NQM"]NMTPUcN]"cNRSa"QM"n<QLQ^UL^"QM"(NMU^LUL^H+""GQL"<QPPNaUdb" QRMS" [QbNM" QL" NVXUPUTQR" XSUL[" SY" ]NXQP[\PN" UL" ZUM" M[\]W" SY" [ZN"

XS[NL[UQR" RULb"cN[aNNL"[ZN"QPTZU[NT[\PN"SY"TSPXSPQ[N"c\UR]UL^M"QL]"T\R[\PQR"TZQL^N"UL" [ZN" SP^QLU_Q[USLM" [ZQ[" ULZQcU[" [ZNV+" #L" QL" N[ZLS^PQXZUT" M[\]W" SY" [ZPNN"ZNQ]h\QP[NP"c\UR]UL^M"ZN"QP^\NM"YSP"Q"qZNPVNLN\[UT"PNRQ[USLMZUX"cN[aNNL"NRNVNL[M"SY" MXQ[UQR" ]NMU^L" QL]" [ZN" VNQLUL^DVQbUL^" SY" [ZNUP" ]NMU^LNPM" QL]" \MNPMr" lOQL"<QPPNaUdb" 9EEA1" 9AFm+" #L" [ZN" M[\]WK" ZN" URR\M[PQ[NM" ZSa" [ZN" MZQXN" SY" TSPXSPQ[N"c\UR]UL^M"PNYRNT[M" [ZN"TZQL^NM" [ZQ["Q"TRUNL["SP^QLU_Q[USL"N`XNPUNLTNM" UL" [ZN"TS\PMN"SY"Q"c\UR]UL^"XPSdNT[K"QL]"M\^^NM[M"Q"M[PSL^NP"TSRRQcSPQ[USL"cN[aNNL"]NMU^LNP"QL]"TRUNL["UL"[ZN"TS\PMN"SY"[ZN"]NMU^L"XPSTNMM+"""#["MZS\R]"QRMS"cN"LS[N]"ZNPN"[ZQ["0Q^RUQP]UHM"OSR\VN"SY"QP[UTRNM"[ZQ["]UMT\MM"ZSa"

]UYYNPNL["[WXNM"SY"QP[UYQT[M"ZSR]"MWVcSRUT"VNQLUL^"[ZQ["MZS\R]"cN"TSLMU]NPN]"UL"QL"SP^QLU_Q[USLQR"XNPMXNT[UON" UM" UL]NN]"cQMN]"SL"NVXUPUTQR" M[\]UNM" l0Q^RUQP]U"!AA!m+"2NPNK" TSPXSPQ[N" QPTZU[NT[\PNK" XPUOQ[N" ZS\MNMK" UL[NPUSP" SYYUTN" RQWS\[K" TSVX\[NP"MWM[NVM"QL]"VSPN"QPN"\MN]"QM"YPQVNaSPbM"[S"URR\M[PQ[N"QL]"]UMT\MM"[ZN"PNRQ[USLMZUX"cN[aNNL"QP[UYQT[M"QL]"SP^QLU_Q[USLQR"RUYN+"""

CE""

&45!6789:;<9=;6:9>!M5@;8:!=79M;=;6:!

%ZN" ULTPNQMUL^" UL[NPNM[" UL" MXQTN" QL]" QPTZU[NT[\PN" aU[ZUL" SP^QLU_Q[USL" M[\]UNM"VU^Z["cN"MQU]"[S"RULb"cQTb"[S"Q"^NLNPQR"UL[NPNM["UL"]NMU^L+"*SLMU]NPUL^"[ZN"TSLTNX["SY"]NMU^L"QM"TSLTNPLUL^"ZSa"SP^QLU_Q[USLM"QPN"NM[QcRUMZN]"QL]"M[P\T[\PN]K"[ZN"QPNQ"SY"SP^QLU_Q[USLQR"]NMU^L"MNNVM"Q"PNRNOQL["XRQTN"[S"M[QP[+"""7NUTb"XPSOU]NM"SLN"QXXPSQTZ"YPSV"!ABFK"aZUTZ"QM"ZN"MQWM"qPNVQULM"QTT\PQ[Nr"

l7NUTb"9EEC1"ACK"&SVVN"9EECK"0QP\]"N["QR+"9EE,mK"QL]"[ZQ["QRMS"XSUL[M"[S"MSVN"SY"[ZN" TZQRRNL^NM" [ZQ[" [ZN" TSLTNX[" ^NLNPQRRW" MNNVM" [S" ZSR]1" q%ZN" ]NMU^L" SY" QL"SP^QLU_Q[USL"PNYNPMK"SY"TS\PMNK"[S"U[M"M[P\T[\PQR"TZQPQT[NPUM[UTMK"U+N+"[ZSMN"NRNVNL[M"UL"[ZN"[S[QR"XUT[\PN"SY"QL"SP^QLU_Q[USLHM"Y\LT[USLUL^"[ZQ["lQm"PNVQUL"\LTZQL^N]"SONP"Q"M\YYUTUNL[RW" RSL^" XNPUS]" SY" [UVN" [S" cN" ]NMTPUcQcRN" QL]" lcm" ULYR\NLTN" SP" TSLM[PQUL"UVXSP[QL[" QMXNT[M" SY" [ZN" SP^QLU_Q[USLHM" [S[QR" cNZQOUSP+" %ZN" \MN" SY" [ZN" aSP]"q]NMU^Lr" UVXRUNM"Q" YST\M"SL"QMXNT[M"SY"M[P\T[\PN" [ZQ["QPN"XPNMTPUcN]"cW"SP"Q[" RNQM["QTTNX[QcRN"[S"[ZN"YSPVQR"Q\[ZSPU[W"SY"[ZN"SP^QLU_Q[USLr"l2QcNPM[PSZ"!ABF1"!!?!"UL"7NUTb"9EEC1"ACDA;m+""6\cM[QL[UQR"]NONRSXVNL[M"ZQON"[QbNL"XRQTN"aU[ZUL"[ZN"QPNQ"SY"VQLQ^NVNL["QL]"

SP^QLU_Q[USLQR"]NONRSXVNL["MULTN"[ZUM"]NYULU[USL"aQM"NM[QcRUMZN]K"QL]"[ZN"YST\M"SL"TZQL^N"QM" Q"XPNTSL]U[USL" YSP"SP^QLU_Q[USLQR" RUYN"ZQM"cNTSVN"cPSQ]RW"QTTNX[N]"cW"XPQT[U[USLNPM"QL]"MTZSRQPM"QRUbN+"2SaNONPK"[ZN"^QX"cN[aNNL"M[QcRN"lq\LTZQL^N]rm"SP"\LM[QcRN"lTZQL^UL^m"TSL[UL\S\MRW"MNNVM"[S"XSMN"Q"TZQRRNL^N+""%ZN"QPNQ"SY"SP^QLU_Q[USLQR"]NMU^L"VU^Z["[Z\M"cN"MQU]"[S"RNQ]"cQTb"[S"MSVN"SY"[ZN"

MU^LUYUTQL[" ]NONRSXVNL[M" aU[ZUL" [ZN" QPNQ" SY" SP^QLU_Q[USL" [ZNSPW" QL]" NTSLSVUTMK"\L]NP[QbNL" UL" [ZN" RQ[N" !AFEHM" QL]" [ZPS\^ZS\[" [ZN" BEHM" QL]" ?EHM" cW" MTZSRQPM" RUbN"JQVNM"0+"<QPTZK"2NPcNP["6UVSL"QL]"JSZQL"4+"'RMNL+"2NPNK"TSLTNX[M"RUbN"cS\L]N]"PQ[USLQRU[W"l<QPTZ"QL]"6UVSL"!AF,K"<QPTZ"9EEFmK"MQ[UMYUTUL^"OM+"SX[UVQR"MSR\[USLM"lUcU]+m" QL]"QVcU^\U[W" QL]"TZSUTN" l<QPTZ"QL]"'RMNL"!A?Bm"VU^Z["cN" MQU]" [S"ZQON"PQ]UTQRRW" TZQL^N]" [ZN" QXXPSQTZ" [S" [ZN" VQLQ^NVNL[" QMMU^LVNL[" QL]" [Z\M" [S"]NONRSXVNL[M" aU[ZUL" SP^QLU_Q[USL" [ZNSPW+" 6[URRK" ]NTUMUSL" VQbUL^" TQL" cN" MQU]" [S"ZQON" PNVQULN]" Q" M\cM[QL[UQR" Z\P]RNK" UL" PN^QP]M" [S" ZSa" TZSUTNM" QPN" VQ]N" QL]"]NONRSXVNL[M"TQL"cN"bNX["\X"QL]"TSL[UL\N]+"=PSV"[ZN"BEHM"QL]"SLaQP]MK"MTZSRQPM"RUbN" /QPR" 3+" 7NUTb" ZQON" TSL[PUc\[N]" [S" [ZN" ]UMT\MMUSL" cW" TSLMU]NPUL^" RUYN" UL"SP^QLU_Q[USLM"QM"TSLMUM[UL^"SY"SL^SUL^"NONL[M"[ZQ["QPN"LQ[\PQRRW"TZQL^UL^"cW"ZQOUL^"

C!""

]UMTSL[UL\U[UNM" QM" Q" TNL[PQR" TZQPQT[NPUM[UT+" 2NPNK" cNZQOUSP" QL]" ]NONRSXVNL[M" UL"SP^QLU_Q[USLM"QPN"TSLMU]NPN]"QM"XPSTNMMNMK" [ZQ[" UMK" TSL[UL\S\M"N`TZQL^NM"cN[aNNL"MVQRRNP" QL]" RQP^NP" NONL[M" [ZQ[" V\[\QRRW" ULYR\NLTN" SLN" QLS[ZNPK" QTTSP]UL^" [S" [ZN"XNSXRN" ULOSRON]" QL]" [ZNUP" XNPTNX[USL+" 7NUTb" TQRRM" [ZNMN" XPSTNMMNM" q]S\cRN"UL[NPQT[MrK"aZNPN" QL" QT[" ^N[M" PNMXSL]N]" [S" cW" QLS[ZNP" QT[" [ZQ[" TZQL^NM" U[K"aZUTZ"RNQ]M"[S"LNa"QT[M"QL]"LNa"PNMXSLMNM"k"N`TZQL^NM"[ZQ["TSL[UL\N"UL"SL^SUL^"RSSXM+"7NUTbHM" QXXPSQTZ" [S" RUYN" QL]" ]NONRSXVNL[M" UL" SP^QLU_Q[USLM" cQMUTQRRW" [QbNM" Q"TS^LU[UON" XSUL[" SY" ]NXQP[\PNK" cQMN]" SL" [PQ]U[USLM" YPSV" MSTUQR" XMWTZSRS^W" QL]"SP^QLU_Q[USLQR" cNZQOUSP" l7NUTb" !A?Am+" .RMSK" ZUM" QXXPSQTZ" [S" SP^QLU_Q[USLQR"]NONRSXVNL[" XPSTNMMNM" TQL" cN" MQU]" [S" PNYNP" [S" SP^QLU_Q[USLQR" ]NMU^L" QM" cNUL^"\LM[QcRN"QL]"XNPXN[\QRRW"TZQL^UL^"lUcU]K"9EE!K"9EECm+"""'LN" aQW" [S" Q]]PNMM" [ZUM" XNPTNX[USL" SY" SP^QLU_Q[USLQR" ]NMU^L" QM" TSL[UL\S\MRW"

NOSROUL^"UM"cW"TSLMU]NPUL^"[ZN"]S\cRN"TSLLS[Q[USL"[ZQ["PNMU]NM"aU[ZUL"[ZN"TSLTNX["SY" ]NMU^L" U[MNRY+"2NPNK" ]NMU^L"VU^Z[" cN" MNNL" QM" Q" LS\L" SP" QM" Q" ONPc" lN+^+"7NUTb"9EE!K"9EECK"-SRQL]"QL]"*SRRSXW"9EE;K"8SS"N["QR+"9EEBK"0QP\]"N["QR+"9EE,m+"7ZURN"[ZN"LS\L"PNYNPM"[S"[ZN"[PQ]U[USLQR"XNPTNX[USL"SY"]NMU^L"QM"Q"XPS]\T[K"[ZN"ONPc"PQ[ZNP"Q[[NL]M"[S"]NMU^L"QM"Q"XPSTNMM"k"SY"]NMU^LUL^+"#L"TSPPNMXSL]NLTN"aU[Z"ZUM"^NLNPQR"OUNa"SL"]NONRSXVNL["UL"SP^QLU_Q[USL"lTY+"MNT[USL"9-mK"7NUTb"XNPTNUONM"Q"]NMU^L"QM"Q" TSVXRN`" MN[" SY" UL[NPQT[USLM" [ZQ[" [QbN" XRQTN" TSL[UL\S\MRW" QL]" aZNPN" qQ[[NL[USL"PQ[ZNP"[ZQL"UL[NL[USL"]PUONM"[ZN"XPSTNMM"SY"]NMU^LUL^r"l7NUTb"9EE!1"B!m+"7ZURN"[ZN"TSVVSL" ]PUONP" UL" [ZN" TRQMMUTQR" QXXPSQTZ" [S" ]NTUMUSL" VQbUL^" VQW" cN" [ZQ[" SY"UL[NL[USL"QL]"[Z\M"SY"[ZN"Y\[\PN"QM"Q"TSL]U[USL"[ZQ["UM"bLSaLK"[ZN"YST\M"SL"Q[[NL[USL"PQ[ZNP" TQRRM" \XSL" [ZN" N`TZQL^NM" cN[aNNL" ]UYYNPNL[" UL[NPNM[M" QL]" XNPTNX[USLM" [ZQ["TSLM[U[\[N"Q"]NONRSXVNL["XPSTNMM+"2NPNK"[ZN"Y\[\PN"]UMTRSMNM"\LbLSaL"YQT[SPM"QL]"[ZN" ]NMU^L" XPSTNMM" PNXPNMNL[" [ZN" NONL[MK" [ZPS\^Z" aZUTZ" XS[NL[UQR" SXXSP[\LU[UNM"STT\P+" #L" [ZUM" MN[\X" ]NMU^L" QM" Q" XPS]\T[" ONPM\M" [ZQ[" SY" Q" XPSTNMM" QPN" MNNL" QM"SXXSMU[NM+""

K9:98;:8!9@!M5@;8:;:8!

'LN"SY" [ZN"VSPN" PNTNL["QXXPSQTZNM" [ZQ[" [QbN"]NMU^L" UL" U[M"TQXQTU[W"SY"cNUL^"Q"ONPc" Y\P[ZNPK" UM" [ZN" TSLTNX[\QR" U]NQ" PNYNPPN]" [S" QM" q<QLQ^UL^" QM" (NMU^LUL^r"l-SRQL]" QL]" *SRRSXW" 9EE;m+" #L" [ZUM" QXXPSQTZK" Q" bNW" [S" ULLSOQ[USL" QL]" TPNQ[UON"XPScRNV"MSROUL^"PNMU]NM"UL"[ZN"XPSTNMM"XNPMXNT[UON"k"SY"]NMU^LUL^+""2NPNK"Q"^PS\X"SY"MTZSRQPM" YPSV"]UYYNPNL[" YUNR]MK" c\["aU[Z" Q"V\[\QR" UL[NPNM[" UL" SP^QLU_Q[USL" M[\]UNMK"

C9""

]UMT\MM" ZSa" VN[ZS]SRS^UTQR" QXXPSQTZNM" [ZQ[" [PQ]U[USLQRRW" TZQPQT[NPU_N"]NONRSXVNL[" XPSTNMMNM" aU[ZUL" [ZN" ]NMU^L" UL]\M[PW" VU^Z[" cN" cNLNYUTUQR" UL"VQLQ^NVNL["TSL[N`[M+"%aS"SONPQRR"QXXPSQTZNM"[S"ULLSOQ[USL"QL]"XPScRNV"MSROUL^"QPN" XQP[UT\RQPRW" N`XSMN]1" [ZN" ]NTUMUSLD" QL]" [ZN" ]NMU^L" Q[[U[\]NK" PNMXNT[UONRW+" %ZN"YUPM["PNXPNMNL[M"[ZN"[PQ]U[USLQR"VQLQ^NVNL["XNPMXNT[UONK"aZUTZ"XPNM\VNM"[ZQ["[ZNPN"QPN" MNONPQR"bLSaL"QR[NPLQ[UON" MSR\[USLM" [S"Q"XPScRNV"QL]" [ZQ[" [ZN" TZQRRNL^N" UM" [S"TZSSMN"QVSL^"[ZNVK"aZNPNQM"[ZN"RQ[[NP"YST\MNM"SL"XPScRNV"MSROUL^"QM"QL"SL^SUL^"]NONRSXVNL[" XPSTNMM" [SaQP]M" Q" MSR\[USL" [ZQ[" aSPbM" lUcU]+m+" %ZN" ]NMU^L" Q[[U[\]N"UL]UTQ[NM"[ZQ["^SS]"MSR\[USLM"QPN"LS["LNTNMMQPURW"bLSaL%[S"\MK"QL]"[ZQ["[ZN"[QMb"SY"YQTURU[Q[UL^"Q"XPSTNMM"[ZPS\^Z"aZUTZ"]UYYNPNL["SXXSP[\LU[UNM"TQL"STT\PK"TQL"cN"MNNL"QM" Q" TNL[PQR" ONZUTRN+" #L" [ZUM" XNPMXNT[UONK" [ZN" T\PPNL[" VQLQ^NVNL[" QMMU^LVNL[" UM"M\^^NM[N]"QM"Q"XPQT[UTN"SY"]NMU^LUL^K" UL"aZUTZ" [ZN"QT["SY"]NMU^LUL^"SP^QLU_Q[USLM"MNPONM"QM"[ZN"XPUVQPW"X\PXSMN+""".TTSP]UL^"[S"[ZN"q<QLQ^UL^"QM"(NMU^LUL^r"QXXPSQTZK"]NMU^LUL^"UM"Q"TSL[UL\S\M"

QL]" U[NPQ[UON" QT[UOU[WK"aZUTZ"VU^Z[" cN" MQU]" [S" XUTb" \X" SL"7NUTbHM" TSLTNX[USL" SY"]NONRSXVNL[" XPSTNMMNM" QM" NVNP^NL[+" #L" [ZN" qLNa" OSTQc\RQPWr" M\^^NM[N]" UL" [ZUM"QXXPSQTZK"[ZUM"]NMU^LUL^"QT[UOU[W"UM"PNYNPPN]"[S"QM"cNUL^"qRUh\U]r1"q(\PUL^"[ZN"RUh\U]"M[Q[NK" Q" ]NMU^L" XPScRNV" UM" SXNL" [S" VQLW" XSMMUcRN" ]UPNT[USLM" UL" U[M" MSR\[USL" QL]"MNPONM"QM"Q"ONZUTRN"YSP"aU]NDPQL^UL^"N`XRSPQ[USLM"QL]"]UQRS^\N+"/NNXUL^"Q"]NMU^L"XPScRNV"UL"Q"RUh\U]"M[Q[N"UM"]UYYUT\R["c\["NMMNL[UQR"UY"Q"cNM["]NMU^L"MSR\[USL"UM"cNUL^"MS\^Z[+" 7U[ZS\[" QL" NYYSP[" [S" [ZN" TSL[PQPWK" Q" ]NMU^L" XPScRNV" aURR" [SS" h\UTbRW"cNTSVN" TPWM[QRRU_N]K" QL]" ULh\UPW" UL[S" [ZN" cNM[" MSR\[USL" aURR" cN" TSLM[PQULN]+r"l-SRQL]"QL]"*SRRSXW"9EE;1"9?Cm+"2NPNK"LS["SLRW"[ZN"RUh\U]"M[Q[N"UM"cNUL^"]UMT\MMN]K"c\["QRMS" U[M"TSL[PQPWK"q[ZN"TPWM[QRRU_N]r+"%ZN"cQRQLTN"cN[aNNL"[ZNMN"M[Q[NM"QXXNQPM"[S" TSPPNMXSL]" aU[Z" [ZN" PNRQ[USLMZUX" cN[aNNL" ]NMU^L" QM" Q" XPS]\T[" QL]" [ZQ[" SY" Q"XPSTNMM+"#["UM"XPNMNL[N]"QM"QL"SL^SUL^"YPUT[USL"cN[aNNL"VQ[[NP"[ZQ["UM"bNX["UL"Q"YR\U]"TSL]U[USLK"QL]"MU[\Q[USLMK"UL"aZUTZ"TRSM\PN"UM"NU[ZNP"TRNQP"SP"UL]UTQ[N]"[ZPS\^Z"XPUSP"]NTUMUSLM" SP" ]NYULN]" ^SQRM" l6\TZVQL" 9EE;K" 0NZPW" 9EE;m+" .RMSK" [ZN" PNRQ[USLMZUX"cN[aNNL"[ZN"VQLQ^NP"l[PQ]U[USLQRRW"TSLMU]NPN]"[ZN"SP^QLU_Q[USLQR"]NMU^LNPm"QL]"[ZN"M[QYY" VNVcNP" lUL" [ZUM" QXXPSQTZ" TSLMU]NPN]" Q" TSD]NMU^LNPm" UM" ]UMT\MMN]" Y\P[ZNP+"6\TZVQL"TZQRRNL^NM"[ZN"[PQ]U[USLQR"TSLTNX[USL"SY"[ZN"]NMU^LNP"QM"[ZN"LQ[\PQR"bNNXNP"SY"]NYULUL^"OQR\N"UL"]NMU^LK"cW"]UMT\MMUL^"[ZN"^NLNPQR"TSLTNX[USL"SY"ZSa"Q"]NMU^L"NVNP^NM"QL]"ZSa"U["UM"cNUL^"UVXRNVNL[N]+"6ZN"M\^^NM[M"[ZQ["[ZN"]NONRSXVNL[M"[ZQ["LNTNMMQPURW"[QbN"XRQTN"M\cMNh\NL["[S"[ZN"NVNP^NLTN"SY"Q"]NMU^L"MZS\R]"cN"[ZS\^Z["SY"QM"Q"XQP["SY"[ZN"]NMU^L"U[MNRYK"QL]"MZN"[Z\M"QTbLSaRN]^NM"[ZN"U]NQ"SY"[ZN"NL]"\MNP"

CC""

QM"TSD]NMU^LNP1"q7ZQ["aS\R]"U["VNQL"[ZNLK"[S"PNTSLYU^\PN"VQLQ^NVNL["QL]"]NMU^L"]UMTS\PMNM" MS" [ZQ[" [ZN" ULNOU[QcRN" PNDaSPbUL^M" ULOSRON]" UL" UVXRNVNL[Q[USLM"SP" \MN"aS\R]"cN"MNNL"LS["QM"]NMU^L"YQUR\PNM"QL]"\MNP"PNMUM[QLTN"c\["QM"PNQRU_Q[USLM"SY"[ZN"]NMU^Lo"'LN"bNW"VSON"UM"[S"MZUY["YPSV"Q"OUNa"SY"[ZN"VQLQ^NPI]NMU^LNP"QM"[ZN"SPU^UL"SY" TZQL^NK" SP" SY" LNa" [ZUL^MK" [S" QL" \L]NPM[QL]UL^" SY" [ZN" VQLQ^NPI]NMU^LNP" QM"ULOSRON]"UL"[ZN"1,01(*6",'."SY"U]NQM"QL]"ScdNT[Mr"l6\TZVQL"9EE;1"!?Em+"""2NPNK"6\TZVQL"VU^Z["cN"MQU]"[S"[QbN"Q"M[NX"[SaQP]M"Q"TSVcULQ[USL"cN[aNNL"Q"

TS^LU[UON" QL]" Q" VQ[NPUQR" XNPMXNT[UON+"7ZURN" ZNP" XSUL[" SY" ]NXQP[\PN" UM" aU[ZUL" QL"SP^QLU_Q[USLQR" TSL[N`[" [ZQ[" ULOSRONM" [ZN" VQLQ^NP" QL]" ZNP" TSVXPNZNLMUSL" SY" [ZN"VQLQ^NVNL["QMMU^LVNL[K"MZN"QRMS"M\^^NM[M"S[ZNP"[ZUL^M"lqU]NQM"QL]"ScdNT[Mrm"QM"[ZN"RSSbUL^"^RQMMK" [ZPS\^Z"aZUTZ"LNa"\L]NPM[QL]UL^M"SY" [ZN"VQLQ^NVNL["QMMU^LVNL["TS\R]"TSVN"QcS\[+"".^QULK"[ZN"XPSXSMU[USL"SY"cPUL^UL^"[ZN"LS[USL"SY"q1,01(*6",'."SY"U]NQM"QL]"ScdNT[Mr"UL[S"XRQW"MNNVM"[S"TSPPNMXSL]"aU[Z"7NUTbHM"^NLNPQR"QXXPSQTZ"[S"XPSTNMMNM" SY" ]NONRSXVNL[" UL" SP^QLU_Q[USLM+" %ZNW" ZQXXNL" UL" RSSXM" [ZQ[" QPN"^NL\ULNRW" PNTUXPSTQR" QL]" TSL[UL\S\M" lN+^+" 7NUTb" !A?Am+" #L" [ZNMN" TSL[UL\S\M"XPSTNMMNM" SY" NLQT[VNL[" QL]" UL[NPXPN[Q[USLK" MSVN[ZUL^" [ZQ[" aQM" VNQL[" YSP" SLN"X\PXSMN" VU^Z[" LS[" ^N[" UL[S" XRQW" QM" M\TZK" c\[" ULM[NQ]" cNTSVN" Q" TSL[PUc\[SP" [S"MSVN[ZUL^"NRMN+" #L" M\TZ"Q"XNPMXNT[UON"SY" U[NPQ[USLK"Q"]NMU^L" UM"TSL[UL\S\MRW"VQ]N"M\cdNT["[S"Q"XS[NL[UQR"XPSTNMM"SY"PN]NMU^LUL^+""

4%!$+"#&;.1&4%#4%8*/+#0&+#&"(0*#+9*$+"#&

%ZN" [ZNSPN[UTQR" TSLTNX[M" [ZQ[" TSLM[U[\[N" [ZN" QPNQ" SY" MNLMNVQbUL^" UL"SP^QLU_Q[USLM" VU^Z[" cN" MQU]" [S" M[NV" YPSV" [ZN" RSL^U[\]ULQR" ]UMT\MMUSLM" aU[ZUL"SP^QLU_Q[USL"M[\]UNM"[ZQ["PN^QP]"[ZN"cQRQLTN"cN[aNNL"[ZN"M[QcRN"QL]"[ZN"\LM[QcRN"UL"VQLQ^NVNL["QL]"SP^QLU_Q[USLQR"]NONRSXVNL["lTY+"9.m+"%ZN"MNLMNVQbUL^"RU[NPQ[\PN"UMK"YPSV"[ZN"RQ[N"MU`[UNM"SLaQP]MK"XQP[UT\RQPRW"]NRULNQ[N]"cW"/QPR"3+"7NUTb"QL]"ZUM"M\^^NM[USLM" SY" ZSa" [ZNMN" TS^LU[UON" XPSTNMMNM" SY" TZQL^N" QL]" ]NONRSXVNL[" [QbN"XRQTN"UL"SP^QLU_Q[USLQR"TSL[N`[M"l7NUTb"!A?Am+"""-QMUTQRRWK" [ZN" MNLMNVQbUL^" TSLTNX[M" ]NMTPUcN" ZSa" XNSXRN" UL" SP^QLU_Q[USLM"

Q[[NVX["[S"TSVXPNZNL]"QL]"N`XRQUL"[ZN"VQLW"TZQL^N"NONL[M"[ZNW"QPN"M\cdNT[N]"[S"

C;""

UL"[ZN"TS\PMN"SY"[ZNUP"XPQT[UTN+""#["UM"Q"aQW"[S"qHM[P\T[\PN"[ZN"\LbLSaLHr"UL"SP]NP"[S"cN" QcRN" [S" PNMXSL]" [S" U[" QL]" [ZNPNcW" [S"cN"QcRN" [S"bNNX"\X" [ZN"QT[USL" l7Q[NPVQL"!AAE1" ;!K" UL" 7NUTb" !AAF1" ;m+" #[" ]NMTPUcNM" [ZN" aQW" [ZPS\^Z" aZUTZ" qXNSXRN" X\["M[UV\RU"UL[S"YPQVNaSPbMr"UL"SP]NP"qn[S"TSVXPNZNL]K"\L]NPM[QL]K"N`XRQULK"Q[[PUc\[NK"N`[PQXSRQ[NK" QL]" XPN]UT[Hr" l6[QPc\Tb" QL]" <URRUbNL" !A,,1" F!K" UcU]m+" %ZN"SP^QLU_Q[USLQR"QT[UOU[UNM"[ZQ["PNXPNMNL["NL]"\MNP"XQP[UTUXQ[USL"QM"Q"VN[ZS]"[S"ULYSPV"]NMU^L"]NONRSXVNL[M"VU^Z["cN"MNNL"QM"M\TZ"Q"YPQVNaSPb+"2NPNK"M[QYY"VNVcNPM"SY"QL" SP^QLU_Q[USL" QPN" ULOU[N]" [S" XQP[UTUXQ[N" UL" SP^QLU_N]" aSPbMZSXM" UL" SP]NP" [S"]UMT\MM"k"QL]" [ZNPNcW"MZN]"LNa" RU^Z["SL"k" [ZNUP"XPSYNMMUSLQR"XPQT[UTN" UL"Q" MXQ[UQR"XNPMXNT[UON+" %ZN" X\PXSMN" SY" [ZNMN" XPSTNMMNM" UM" LS[" SLRW" [S" ]NMTPUcN" [ZN" T\PPNL["aSPb" XPQT[UTNK" c\[" QRMS" [S" N`XRSPN" U]NQM" QL]" TSLMU]NPQ[USLM" [ZQ[" PN^QP]" Y\[\PN"XPQT[UTN" k" TQ[QRW_N]" QL]" U]NL[UYUN]" cW" [ZN" TSLONPMQ[USL" cN[aNNL" [ZN" XQP[UTUXQL[M+"%ZN" SP^QLU_N]" aSPbMZSXM" QPN" [Z\M" SLN" RNONR" SY" [ZN" YPQVNaSPbK" aU[ZUL" aZUTZ"MNLMNVQbUL^" QT[UOU[UNM" TQL" [QbN" XRQTN+" -\[" QM" aURR" cN" URR\M[PQ[N]" QL]" ]UMT\MMN]"cNRSa"lTY+"MNT[USLM"F-"QL]"B-mK"[ZN"S\[TSVN"SY"M\TZ"XPSTNMMNM"UM"OSR\VULS\M"QL]"VNMMW+"#["LNN]M"[S"^S"[ZPS\^Z"TNP[QUL"XPSTNMMNM"SY"UL[NPXPN[Q[USL"QL]"[PQLMRQ[USLK"UL"SP]NP" [S" MNPON" QM" QL" QT[\QR" ULX\[" [S" ULYSPV" QL" QT[\QR" ]NMU^L" XPSTNMM+" %ZNMN"XPSTNMMNM"SY"UL[NPXPN[Q[USL"VU^Z["cN"MQU]"[S"cN"QLS[ZNP"RNONR"SY"YPQVNaSPbK"aU[ZUL"aZUTZ"M[UV\RU"QPN"XRQTN]K"UL"SP]NP"YSP"MU[\Q[USLM"[S"cNTSVN"TSVXPNZNLMUcRN+""""#L"XPSTNMMNM"SY"MNLMNVQbUL^K"aSP]M"QL]"RQL^\Q^N"MNPON"QM"[ZN"TNL[PQR"ONZUTRN"[S"

NLZQLTN" QL]" M\XXSP[" [ZNV+" 4NSXRN" [QRb" [ZN" NONL[M" [ZNW" QPN" M\cdNT[N]" [S" qUL[S"N`UM[NLTNrK"UL"SP]NP"[S"TSVXPNZNL]"[ZNV+"l7NUTb"N["QR+"9EEF1";EAm+"%ZN"RQWS\["SY"M\TZ"QL"QP[UT\RQ[UL^"XPSTNMM"ULOSRONM"PN[PSMXNT[USL+"7NUTbHM"^NLNPQR"qMNLMNVQbUL^"PNTUXNr"M[Q[NM"[ZQ[1"q2Sa"TQL"#"bLSa"aZQ["#"[ZULb"\L[UR"#"MNN"aZQ["#"MQWor"l7NUTb"!A?A1"!FFK"!BFK"!AAF1"!9K"9EE!1"!,AK"9EE91"AK"7NUTb"N["QR+"9EEF1";!9m+"2NPNK"ZN"PNYNPM" [S"<NQ]HM" PNVQPb" [ZQ[" aN" QPN" qTSLMTUS\M" QRaQWM" SY" aZQ[" aN" ZQON" ]SLNK"LNONP"SY"]SUL^"U[r"l<NQ]"!AFB1"!CBK"UL"7NUTb"!A?A1"!A;m+"4NSXRN"UL"SP^QLU_Q[USLM"[QRb" YSP[Z" [ZNUP" QT[USLM" QL]" [ZN" NONL[M" [ZNW" QPN" M\cdNT[N]" [SK" UL" Q" PN[PSMXNT[UON"XPSTNMM+"%ZNW" ]UMT\MMK" TSLONPMNK" ]ST\VNL[K" NOQR\Q[Ng" LS[" SLRW" [S" ^N[" [ZNUP" ZNQ]M"QPS\L]"aZQ[" UM" ^SUL^" SL" UL" [ZN" XPNMNL[" MU[\Q[USLK" c\[" QRMS" UL" SP]NP" [S" cN" QcRN" [S"TSL[UL\N"[ZNUP"QT[USL+"%S"XPNXQPN"YSP"aZQ["aURR"ZQXXNL"LN`["QL]"[S"YU^\PN"S\["ZSa"[ZNW"TQL"TSL[PUc\[N"[S"[ZNMN"Y\P[ZNP"VSONVNL[M+"%ZNPN"QPN"VQLW"TSL[PUc\[SPM"[S"[ZN"MNLMNVQbUL^" RU[NPQ[\PN" QL]" QRMS" ]UYYNPNL[" XNPTNX[USLM" SY" MSVN" SY" [ZN" TNL[PQR"TSLTNX[M"l7NUTb"!AAFm+"#L"[ZN"YSRRSaUL^K" #"aURR"S\[RULN"Q"YNa"SY"[ZN"ZNQ]RULNMK"QM"

CF""

[ZNW"QPN"NVXZQMU_N]"QL]"N`XRQULN]"cW"7NUTb"l7NUTb"!A?AK"!AAFK"9EE!K"7NUTb"N["QR+"9EEFm+""

"49:85!9@!=45!?6;:=!6G!M5?97=C75!

#L"SP^QLU_Q[USLQR" RUYNK" [ZN"TSL^RSVNPQ[N"SY"NONL[M" [ZQ[" YSPV"]QURW"XPQT[UTNK"QPN"YPNh\NL[RW" TZQPQT[NPU_N]" cW" TZQL^N1" ]UMTSL[UL\U[UNM" [ZQ[" QPN" Nh\UOSTQR" cW" LQ[\PN"l7NUTb" !A?Am+" 7N" QPN" SY[NL" LS[" M\PN" SY" [ZNUP" VNQLUL^K" QM" [ZNUP" TSL[NL[" VU^Z["TZQL^N"QTTSP]UL^"[S"[ZN"MU[\Q[USLK"UL"aZUTZ"[ZNW"QXXNQPN]K"QL]"[ZN"XNSXRN"ULOSRON]"UL"[ZNV+"%ZNW"QPN"QVcU^\S\M1"UL]UM[ULT["UL"X\PXSMN"QL]"[Z\M"]UYYUT\R["[S"\L]NPM[QL]+"3L^Q^N]" UL" SP^QLU_Q[USLQR" TSL[N`[MK" aN" [Z\M" [PW" [S" TSVXPNZNL]" M\TZ" TZQL^N"NONL[MK"UL"SP]NP"[S"PN]\TN"[ZNUP"Nh\UOSTQRU[W"QL]"MNT\PN"S\P"QcURU[W"[S"TSL[UL\N"[ZN"QT[USL" [ZQ[" TSLM[U[\[NM" S\P" SP^QLU_Q[USLQR" MWM[NV+" .M" VNL[USLN]" UL" [ZN" XPNOUS\M"XQPQ^PQXZK"[ZN"XPSTNMM"SY"TSVXPNZNL]UL^"QL]"PNMXSL]UL^"[S"[ZUM"[WXN"SY"M[UV\RU"UM"\M\QRRW"]SLN"cW"[QRbUL^+"7N"[QRb"S\P"aQW"[ZPS\^Z"M\TZ"TZQL^N"NONL[MK"UL"SP]NP"[S"\L]NPM[QL]"QL]"PNMXSL]"[S"[ZNV"lN+^+"7NUTb"!AAFK"7NUTb"N["QR+"9EEFm+"""7ZNL"aN"XNPTNUON"MSVN[ZUL^"QM"Q"TZQL^N"NONL[K"U["UM"cQMUTQRRW"cNTQ\MN"U["]UYYNPM"

YPSV" [ZN" XPQT[UTN" SP" [ZN" [WXNM" SY" MU[\Q[USLM" aN" bLSa+" 7ZNL" XNSXRN" PN^QP]" Q"TSL]U[USL" SP" MU[\Q[USL" QM" ]UYYNPNL[" [S" MSVN[ZUL^" [ZNW" QPN" YQVURUQP" aU[ZK" [ZN"MNLMNVQbUL^"XPSTNMM"MN[M"YSP[Z+"%ZN"h\NM[USL1"qMQVN"SP"]UYYNPNL[or"UM"[Z\M"TNL[PQR"UL"MNLMNVQbUL^"lN+^+"7NUTb"N["QR+"9EEF1";!;m+".M"aURR"cN"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"*ZQX[NP"B"cNRSaK"[ZN"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"ULOSRON]"UL"[ZN"]NMU^LUL^"SY".PbU[NVQHM"]SVUTURN"%ZN"<UbQ]S"2S\MN"Q[[NVX[N]"[S"TSRRQcSPQ[NK"QM"Q"VNQLM"[S"^N[" [ZN" XPSdNT[" UL[S" VS[USL+" 2NPNK" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" MNPON]" QM" Q"TNL[PQR" XQP[" SY" [ZN" YPQVNaSPbK" YPSV" aZUTZ" [ZN" ]NMU^L" XPSTNMM" aQM" M\XXSMN]" [S"NOSRON+"%ZN"MN[[UL^"TRNQPRW"]UYYNPN]"YSP"cS[Z"XQP[UNM+"%ZN"QPTZU[NT[M"M[P\^^RN]"[S"^N["[ZNUP"ZNQ]M"QPS\L]"ZSa"[S"PNMXSL]"[S"[ZN"VQ[NPUQR"XPS]\TN]"cW"[ZN"NL]"\MNPM"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"%ZN"XPSTNMM"]NMU^LNPMK"SL"[ZN"S[ZNP"ZQL]K"M[P\^^RN]"[S"YUL]"Q"aQW"[S"S\[RULN"[ZN"YPQVNaSPbK"UL"SP]NP" [S"^N["[ZN"TSRRQcSPQ[USL"[S"aSPb"QL]"[ZN"]NMU^L"XPSTNMM"[S"XPS^PNMM+""""7NUTb" N`XRQULM" M\TZ" Q[[NVX[M" Q[" MNLMNVQbUL^" UL" SP^QLU_Q[USLQR" TSL[N`[M"

[ZPS\^Z" [ZPNN" VQUL" TSLTNX[M1" NLQT[VNL[K" MNRNT[USLK" QL]" PN[NL[USL+" %ZNMN" QPN"VS[USLM"aN"^S" [ZPS\^ZK" UL"SP]NP" [S" PNMXSL]" [S" [ZN"TZQL^NM" Q[" M[QbN"QL]"bNNX"SL"VSOUL^"lN+^+"7NUTb"!A?AK"9EE!K"7NUTb"N["QR+"9EEFm+""

CB""

':9A=P5:=!

%ZN"TNL[PQR"XSUL[" UL"[ZN"XPSTNMM"SY"NLQT[VNL["UM" [ZQ[" U[" ULOSRONM"UL[NPXPN[Q[USL+"-W"UL[NPXPN[UL^"[ZN"TUPT\VM[QLTNM"QL]"NONL[M"QPS\L]"\MK"aN"Q[[NVX["[S"VQbN"[ZNV"S\P"SaL+"7N"NLQT[" Q" MU[\Q[USL"cW" [PWUL^" [S"VQbN" U["VSPN"SP]NPRW1"7N"TQ[N^SPU_N"QL]" SP^QLU_N" [ZN" UMM\NM" UL" h\NM[USLK" UL" SP]NP" [S" \L]NPM[QL]" [ZNV" cN[[NP+" .VSL^"S[ZNP" [NPVMK" 7NUTb" TQRRM" [ZUM" LS[USL" SY" TQ[N^SPU_Q[USL" qcPQTbN[UL^r" lN+^+" 7NUTb"!A?A1"!F;K"!AAF1"CFK"7NUTb"N["QR+"9EEF1";!!m+"-PQTbN[UL^"XPQT[UTQRRW"VNQLM"[ZQ["aN"TQPON" S\[" QL]" TQ[N^SPU_N" MSVN" QMXNT[M" SY" [ZN" UMM\N" Q[" M[QbN" l[N`[K" [QMbK" NONL[K" SP"S[ZNPmK"QM"Q"VNQLM"SY"^N[[UL^"QL"SONPOUNa"SY"U[M"TSL[NL[+"7N"cPNQb"[ZN"TSL[NL["\X"UL"XUNTNM"QL]"^UON" [ZNV"LQVNMK" UL"SP]NP" [S"Q[[QTZ"VNQLUL^"[S" [ZNV+"#L" [ZUM"XPSTNMMK"aN"cPUL^"MSVN"[ZUL^M"YSP[Z"QL]"RNQON"S[ZNPM"S\[+"7NUTb"MQWM"[ZQ["qXNSXRN"TZSSMN"[ZNUP" SaL" TSLM[PQUL[Mr" l7NUTb" !AAF1" !B;m+"2NPNK" ZN" UL]UTQ[NM" [ZQ[" TSL]U[USLM" YSP"QT[USL" PNMU]NK" PQ[ZNP" UL" [ZN" UL[NPXPN[Q[USLK" [ZQL" UL" [ZN"QT[\QR"VQ[NPUQRK"\XSL"aZUTZ"[ZN"TSL]U[USLM"VU^Z["cN"MQU]"[S"cN"c\UR[+"%ZUM"XPSTNMM"SY"TZSSMUL^"TQL"cN"RSTQ[N]"UL"[ZN"UL[NPXPN[Q[USLM"[ZQ["TSLM[U[\[N"[ZN"XPSTNMM"SY"NLQT[VNL[+"-QMN]"SL"XPSTNMMNM"SY"NL^Q^NVNL[" QL]" UL[NPXPN[Q[USLK" XNSXRN" UL" SP^QLU_Q[USLQR" TSL[N`[M" TSL[PUc\[N" [S"MZQXN" [ZN" PNM\R[M" SY" [ZN" NONL[M" [S" aZUTZ" [ZNW" QPN" M\cdNT[N]K" QL]" [Z\M" [ZN"NLOUPSLVNL["UL"aZUTZ"[ZNW"QPN"XQP[+""#L" [ZN" XPSTNMM" SY" NLQT[VNL[K" XNSXRN" RSSb" YSP" XRQ\MUcRN" QLMaNPM" UL" SP]NP" [S"

XPS]\TN"VNQLUL^+"2NPNK"XRQ\MUcURU[W"cQMUTQRRW"VNQLM"XNSXRNHM"MNQPTZ"YSP"qTSVVSL"^PS\L]rK"[ZUL^M"[S"Q^PNN"SLK"QM"Q"VNQLM"[S"\L]NPM[QL]"[ZN"NONL[M"[ZNW"QPN"M\cdNT[N]"[S"QL]"[S"bNNX"[ZN"QT[USL"^SUL^1""qs%tZN"aQWM"UL"aZUTZ"NONL[M"QPN"YUPM["NLOUMUSLN]"UVVN]UQ[NRW" cN^ULM" [ZN" aSPb" SY" SP^QLU_UL^" cNTQ\MN" NONL[M" QPN" cPQTbN[N]" QL]"RQcNRN]" UL" aQWM" [ZQ[" XPN]UMXSMN" XNSXRN" [S" YUL]" TSVVSL" ^PS\L]+" %S" ^NLNPQ[N"TSVVSL"^PS\L]K"RQcNRUL^"U^LSPNM"]UYYNPNLTNM"QVSL^"QT[SPM"QL]"]NXRSWM"TS^LU[UON"PNXPNMNL[Q[USLM" [ZQ["QPN"QcRN" [S"^NLNPQ[N" PNT\PPUL^"cNZQOUSPMr" l7NUTb"N["QR+"9EEF1";!!m+" .^QULK" [ZN" XPSTNMM" SY" UL[NPXPN[Q[USL" lNLQT[VNL[m" PNXPNMNL[M" aQWMK" [ZPS\^Z"aZUTZ" XNSXRN" Q[[NVX[" [S" QMMNVcRN" [ZN" YQT[SPM" [ZQ[" TZQPQT[NPU_N" Q" MU[\Q[USL" UL[S" Q"YSPVQ["[ZQ["VQbN"MNLMN"[S"[ZNV+".M"aURR"cN"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"*ZQX[NP"BK"[ZN"XNSXRN"ULOSRON]"UL"[ZN"XPSTNMM"SY"]NMU^LUL^"[ZN"<UbQ]S"2S\MNK"VU^Z["cN"MQU]"[S"ZQON"N`XNPUNLTN]"MNONPN"]UYYUT\R[UNM"UL"YUL]UL^"M\TZ"qTSVVSL"^PS\L]r+"-\["[ZN"M[SPW"SY"[ZN"<UbQ]S"2S\MN"XPSdNT["QRMS"XPNMNL[M"Q"XQP[UT\RQP"ULM[QLTNK"UL"aZUTZ"QL"QPTZU[NT[" QL]" Q" XPSTNMM" ]NMU^LNP" NM[QcRUMZN]" M\TZ" YS\L]Q[USLK" YPSV" aZUTZ" [ZNUP"UL[NPXPN[Q[USLM"TS\R]"cN"VQ]N"QL]"[ZN"MNLMNVQbUL^"XPSTNMM"TS\R]"TSL[UL\N+"#L"[ZUM"

C?""

TSRRQcSPQ[USLK"[ZN"XPSTNMM"SY"MNLMNVQbUL^"VU^Z["NONL"cN"MQU]"[S"PNQTZ"LN`["RNONRK"[ZQ["SY"MNRNT[USLK"aZUTZ"aURR"cN"UL[PS]\TN]"MZSP[RW"cNRSa+""""

25:@5P9L;:8!;@!A6:=;:C6C@!

%ZN" MNLMNVQbUL^" XPSTNMM" VQW" cN" MNNL" QM" U[NPQ[UONK" UL" [ZN" MNLMN" [ZQ[" U[" UM"TSL[UL\S\M"QL]"PNTUXPSTQR+"7U[Z"]UYYNPNL["XNSXRN"ULOSRON]K"]UYYNPNL["UL[NPXPN[Q[USLM"aS\R]" cN"VQ]N" lNLQT[VNL[m" [S"VQbN" MNLMN" SY" [ZN"VQ[[NPM" Q[" M[QbNK" QL]" ]UYYNPNL["[ZUL^M"aS\R]"cN"MNNL"lMNRNT[USLm+"#L"[ZUM"aQW"aN"VQW"MQW"[ZQ["qMNLMNVQbUL^"LNONP"M[SXMr" l7NUTb" !AAF1" !E?m+" %ZN" PNM\R[" SY" QL" UL[NPXPN[Q[USL" UM" [Z\M" MXNTUYUT" YSP" Q"XQP[UT\RQP" MU[\Q[USL+"7U[Z"S[ZNP"XNSXRN" UL" [ZN" RNQ]K"S[ZNP" UL[NPXPN[Q[USLM"aS\R]"cN"VQ]N+".RMSK"UL[NPXPN[Q[USLM"QPN"TSL[UL\S\MRW"VQ]N"M\cdNT["[S"LNa"UL[NPXPN[Q[USLM"QM"[ZN" MNLMNVQbUL^" XPSTNMM" TSL[UL\NM+" &NTQRRUL^"7NUTbHM" ^NLNPQR" \L]NPM[QL]UL^" SY"]NONRSXVNL[" XPSTNMMNM" UL" SP^QLU_Q[USLM" lTY+" 9.mK" [ZNMN" QPN" MNNL" QM" TSL[UL\S\M"N`TZQL^NM" cN[aNNL" NONL[M" QL]" QT[USLM" [ZQ[" V\[\QRRW" ULYR\NLTN" SLN" QLS[ZNPK"QTTSP]UL^" [S" [ZN" XNSXRN" ULOSRON]" UL" [ZNV+"2NPNK" QL" QT[USL" TQ[QRW_NM" LNa" QT[USLM"[ZQ["TZQL^N"U[K"aZUTZ"Q^QUL"TQ[QRW_N"QT[USLM"QL]"PNMXSLMNM"[S"[ZSMN"QT[USLM+"%ZNMN"N`TZQL^NM" TSL[UL\N" UL" [ZN" SL^SUL^" RSSXM" [ZQ[" 7NUTb" TZQPQT[NPU_NM" QM" q]S\cRN"UL[NPQT[Mr+""%ZNMN"TSL[UL\S\M"UL[NPQT[USLMK"N`TZQL^NM"QL]"UL[NPXPN[Q[USLM"[ZQ["ULYR\NLTN"QL]"

TZQL^N" TSL]U[USLM" UL" SP^QLU_Q[USLQR" MN[[UL^MK" UL]UTQ[N" [ZQ[" qsMtNLMNVQbUL^" UM" LS["QcS\["[P\[Z"QL]"^N[[UL^"U["PU^Z[r"l7NUTb"N["QR+"9EEF1";!FmK"QR[ZS\^Z"XNSXRN"SY[NL"[PW"[S"cN" PU^Z[" UL"SP]NP" [S"VQUL[QUL" [ZNUP"VS[UOQ[USL+"&Q[ZNPK" [ZN"XPSTNMMNM"N`NVXRUYW"SL^SUL^"Q[[NVX[M"[S"VQbN"[ZN"MU[\Q[USL"Q["ZQL]"XSMMUcRN"[S"PNMXSL]"[SK"QL]"[ZNPNcW"[ZN" NYYSP[" [S" bNNX" [ZN" QT[USL" ^SUL^+" %ZUM" ZQXXNLM" QM" [ZN" N`TZQL^NM" TSL[UL\S\MRW"TSL[PUc\[N"[S"TZQL^N"[ZN"M[SPW"QcS\["[ZN"UMM\NM"Q["M[QbN+"-\["QM"7NUTb"N["QR+"XSUL["S\[1" r4NSXRN"VQW" ^N[" cN[[NP" M[SPUNMK" c\[" [ZNW"aURR" LNONP" ^N[" "#$% M[SPWr" lUcU]+m+" #L"SP^QLU_Q[USLQR" RUYN" [ZNPN" UMLH[" M\TZ" Q" [ZUL^" QM" n[ZN" M[SPWH+" .R[ZS\^Z" Q" cQMUT"MNLMNVQbUL^"h\NM[USL"VQW"cN"q7ZQ[HM"[ZN"M[SPW"ZNPNor"l7NUTb"N["QR+"9EEFmK"Q"VSPN"TSPPNT["h\NM[USL"VU^Z["PQ[ZNP"cN"q7ZQ[HM"6"M[SPW"ZNPNor"l7NUTb"9EE!1";B9m+"%ZNPN"TQL"LNONP"cN"SLN"M[SPW" UL"QL"SP^QLU_Q[USLQR"TSL[N`[1"6NONPQR"XNSXRN"QPN" ULOSRON]K"aZS" PNXPNMNL[K" LS[" SLRW" [ZNVMNRONMK" c\[" QRMS" ]UYYNPNL[" ^PS\XM+"7ZQ[" Q" VQLQ^NP"TSLMU]NPM" XRQ\MUcRN" UM" SY[NL" LS[" XRQ\MUcRN" YSP" S[ZNP" ^PS\XM" PNXPNMNL[N]" UL" [ZN"TSL[N`[1"NVXRSWNNMK"M[QbNZSR]NPMK"[ZN"cSQP]K"SP"S[ZNPM"l7NUTb"N["QR+"9EEFm+""""

C,""

25>5A=;6:!

7NUTb" UM" ^NLNPQRRW" TQ\[US\M" QcS\[" XSUL[UL^" S\[" ZSa" [ZN" TSLTNX[" SY" TZSUTN" UM"SY[NL" TSLLNT[N]" [S" VS]NRM" SY" PQ[USLQR" ]NTUMUSL" VQbUL^K" QL]" [ZQ[" SP^QLU_Q[USLQR"TSL[N`[M"TQLLS["cN"MQU]" [S"cN"c\UR["SL"M[QcRN"TSL]U[USLM+"2SaNONPK" [ZN"XPSTNMM"SY"MNRNT[USL"N`XRQULM"ZSa"[ZN"NLQT[N]"UL[NPXPN[Q[USLM"QPN"M\cMNh\NL[RW"VQ]N"M\cdNT["[S"TZSUTN+"6NRNT[USL"VNQLM"[ZQ["TNP[QUL"QMXNT[M"SY"[ZN"NLQT[N]"TZQL^N"NONL[M"VU^Z["^N["nTZSMNLH" cW" [ZN" XNSXRN" M\cdNT[N]" [S" [ZNV+"7NUTb" N[" QR+" N`XRQULM" U[" [ZN" YSRRSaUL^"aQW1"q%ZN"L\VcNP"SY"XSMMUcRN"VNQLUL^M%^N[M"PN]\TN]"UL"[ZN"SP^QLU_UL^"XPSTNMM"SY"+$*$1",'.+" 2NPN% Q" TSVcULQ[USL" SY" PN[PSMXNT[UON" Q[[NL[USLK" VNL[QR" VS]NRMK% QL]"QP[UT\RQ[USL"XNPYSPV"Q"LQPPQ[UON"PN]\T[USL"SY"[ZN"cPQTbN[N]"VQ[NPUQR"QL]"^NLNPQ[N"Q"RSTQRRW"XRQ\MUcRN%M[SPWr"l7NUTb"N["QR+"9EEF1";!;m+"""#L"N`XRQLQ[USLM"SY"[ZN"MNLMNVQbUL^"XPSTNMM"U["UM"SY[NL"XSUL[N]"S\["[ZQ["Q"TNL[PQR"

PNQMSL"YSP"MNLMNVQbUL^"[S"[QbN"XRQTN"UM"[ZQ["XNSXRN"UL"SP^QLU_Q[USLM"aQL["[S"cN"QcRN"[S"QT[+"%ZNW"QPN"cPS\^Z["[S^N[ZNP"[ZPS\^Z"TNP[QUL"QT[USLM"[ZQ["TSLM[U[\[N"[ZN"XPS]\T["SP"MNPOUTN"[ZNW"PNXPNMNL["QM"QL"SP^QLU_Q[USLK"QL]"[ZNUP"^NLNPQR"ULTRULQ[USL"UM"[S"bNNX"M\TZ"QT[USL"^SUL^+"%ZNUP"TSL[UL\S\M"Q[[NVX[M"[S"MNLMNVQbUL^"QPN"[Z\M"NYYSP[M"[ZNW"VQbNK" UL"SP]NP" [S"bNNX" [ZN"aZNNRM"^SUL^+"q6NLMNVQbUL^" UM"QcS\[" [ZN" UL[NPXRQW"SY"QT[USL"QL]" UL[NPXPN[Q[USL" PQ[ZNP" [ZQL" [ZN" ULYR\NLTN"SY"NOQR\Q[USL"SL"TZSUTN+"7ZNL"QT[USL" UM" [ZN" TNL[PQR" YST\MK" UL[NPXPN[Q[USLK" LS[" TZSUTNK" UM" [ZN" TSPN" XZNLSVNLSLr"l7NUTb" N[" QR+" 9EEF1" ;EAm+" %ZN" XSUL[" ZNPN" UM" [ZQ[" [ZN" UL[NPXPN[Q[USL" VQ]N" UL" [ZN"XPSTNMM"SY"NLQT[VNL["UM"[ZN"YUPM["ULM[QLTN"SY"TPNQ[UL^"qTSVVSL"^PS\L]r"lUcU]1";!!mK"QL]"SL"[ZQ["cQMUM"QT[USL"TQL"XS[NL[UQRRW"cN"\XZNR]+"-\["U["UM"UVXSP[QL["[S"LS[N"[ZQ[K"QM"=NR]VQL"MQWMK"Q[[NVX[M"Q["MNLMNVQbUL^"SY[NL"]S"qLS["PNM\R["UL"QT[USLr"l=NR]VQL"!A,A1" 9EK" UL" 7NUTb" !AAF1" Fm+" %ZNW" ULYR\NLTN" [ZN" M\cMNh\NL[" MU[\Q[USLK" c\[" [ZN"SX[USLQR"UL[NPXPN[Q[USLM"VQW"LS["cN"YSRRSaN]"cW"Q"TZQL^N]"XPQT[UTN+"""#L"[ZUM"aQWK"[ZN"XPSTNMM"SY"MNRNT[USL"VU^Z["[Z\M"cN"MQU]"[S"ULOSRON"Q"LNa"RQWNP"SY"

UL[NPXPN[Q[USL+"-W"TZSSMUL^"lQM" UL"MSP[UL^m" [ZN"cPQTbN[N]"QL]" UL[NPXPN[N]"VQ[NPUQRK"qQ" LQPPQ[UON" PN]\T[USLr" UM" VQ]N" cW" MNRNT[USL" l7NUTb" N[" QR+" 9EEF1" ;!;m+" 7NUTb"\LYSR]M" [ZN"XSUL["cW"N`XRQULUL^" [ZQ["q6NRNT[USL"STT\PM"SL" [ZN" MNLMN" [ZQ["VQLW"SY"[ZN"XSMMUcRN"VNQLUL^M"[ZQ["QPN"[PUN]"MUVXRW"YQURK"NU[ZNP"cNTQ\MN"[ZNW"QPN"LS["\MNY\R"SP"cNTQ\MN"[ZN"XPNMNL["]Q[Q"UM"ULTSLMUM[NL["aU[Z"[ZNVr"l7NUTb"!A?A1"!?Fm+"<SM["SY"[ZNMN"VNQLUL^M"QL]"]Q[Q"QPN"[Z\M"QcQL]SLN]K"aZURN"Q"YNa"VU^Z["cN"cPS\^Z["YSP[Z"QM"Q"VQX"SP"Q"[NVXRQ[N"[ZQ["TQL"cN"\MN]"UL"M\cMNh\NL["QT[USL+""

CA""

(5=5:=;6:!

=ULQRRWK" [ZN" XPSTNMM" SY" PN[NL[USL" ]NMTPUcNM" ZSa" M\TZ" XPNYNPPN]" QMXNT[MK" N+^+"cPS\^Z[" YSP[Z" QM" Q" [NVXRQ[N" [ZPS\^Z" [ZN" XPSTNMM" SY" MNRNT[USLK" M\cMNh\NL[RW" ^N["UL[N^PQ[N]" UL" [ZN" SP^QLU_Q[USLHM" ]QURW" XPQT[UTN+" &N[NL[USL" ULOSRONM" UVXRNVNL[UL^"[ZN"XZNLSVNLSL"[ZPS\^Z"Q"TSL[UL\S\M"XPSTNMM"SY"NM[QcRUMZVNL[1"q7ZNL"Q"XRQ\MUcRN%M[SPW" UM" PN[QULN]K" U[" [NL]M" [S"cNTSVN"VSPN"M\cM[QL[UQR%cNTQ\MN" U[" UM" PNRQ[N]" [S"XQM["N`XNPUNLTNK"TSLLNT[N]%[S"MU^LUYUTQL["U]NL[U[UNMK"QL]"\MN]"QM"Q"MS\PTN"SY"^\U]QLTN%YSP"Y\P[ZNP" QT[USL" QL]" UL[NPXPN[Q[USLr" l7NUTb" N[" QR+" 9EEF1" ;!;m+" %ZUM" VNQLM" [ZQ["PN[NL[USL" PNXPNMNL[M" [ZN" SP^QLU_Q[USLHM" QcURU[W" [S" PNXNQ[" SP" PNTQRR" [ZQ[K"aZUTZ"aQM"MNRNT[N]+"7NUTb"h\S[NM"JQVNMK"N`XRQULUL^"[ZQ["qHPN[NL[USL"VNQLM"*,6),*,"8"[S"PNTQRRK"QL]"U["VNQLM"LS[ZUL^"VSPN"[ZQL"M\TZ"RUQcURU[WHr"lJQVNM"!AFE1"BF;"UL"7NUTb"!A?A1"9E?m+" &N[NL[USL" ZQXXNLM" aZNL" [ZN" MNRNT[N]" VQX" SP" [NVXRQ[N" UM" TSL[UL\S\MRW"PNOUMU[N]"UL"Y\[\PN"QT[USLM+"#["]SNM"LS["VNQL"[ZQ["U["MZS\R]"cN"PNTQRRN]"QM"MSVN[ZUL^"MXNTUYUT" k" d\M[" [ZQ[" U[" UM" PNTQRRN]+" 'P^QLU_Q[USLM" ZQON" qcQ]"VNVSPW" M\PYQTNMr" QM"7NUTb" XSUL[M" S\[" lUcU]1" 9E,mK" QL]" ZN" NVXZQMU_NM" [ZQ[" [ZUM" UM" ^SS]+" -NTQ\MN"MNLMNVQbUL^" XPSTNMMNM" QPN" LNTNMMQPURW" TSL[UL\S\M" QL]" PNTUXPSTQRK" [ZN" TSL[UL\S\M"XPSTNMM" SY" PN[NL[USL"XPSOU]NM"WN[" QLS[ZNP" RQWNP" SY" UL[NPXPN[Q[USL+" #L" [ZUM"aQWK"aN"VU^Z["MQW"[ZQ["UVXRNVNL[Q[USL"UL"SP^QLU_Q[USLQR"XPQT[UTN"ZQXXNLM"[ZPS\^Z"PNXNQ[N]"QT[USL+"""%ZNMN" [ZPNN" ^NLNPQR" M[NXM" [S" ]NMTPUcN" ZSa" SP^QLU_Q[USLQR" MNLMNVQbUL^" [QbNM"

XRQTN" QL]" ]NONRSXM" TQL" cN" XNPTNUON]" UL" Q" MNh\NL[UQR" M[P\T[\PN" QL]" TQL" [Z\M" cN"]UMT\MMN]"QM"M\TZ+"'L"[ZN"S[ZNP"ZQL]K"[ZNW"MZS\R]"QRMS"cN"MNNL"QM"TSLT\PPNL[K"UL"[ZN"MNLMN"[ZQ["[ZNW"QPN"SL^SUL^"RSSXM"SY"QT[USL"[ZQ["]S"LS["ZQON"TRNQP"cN^ULLUL^M"QL]"NL]UL^MK" c\[" QPN" TSL[UL\S\MK" PNTUXPSTQR" N`TZQL^NM" [ZQ[" XNSXRN" UL" SP^QLU_Q[USLQR"MN[[UL^M"\L]NP[QbN"UL"SP]NP"[S"bNNX"\X"[ZNUP"XPQT[UTN"l7NUTb"!A?AK"!AAFK"9EE!m+"%ZN"MNLMNVQbUL^"RU[NPQ[\PN"UM"XQP[UT\RQPRW"cNUL^"\MN]"UL"[ZN"QLQRWMNM"UL"MNT[USLM"F-"QL]"B-+""

;E""

4%!$+"#&;!1&*!$"(<#%$5"(/&$2%"(6&

=ULQRRWK"QT[SPDLN[aSPb"[ZNSPW"ZQM"cNNL"Q"MS\PTN"SY"ULMXUPQ[USL"UL"[ZN"XPSTNMM"SY"QLQRW_UL^"[ZN"NVXUPUTQR"VQ[NPUQR"XPS]\TN]"UL"[ZN"M[\]W+".T[SPDLN[aSPb"[ZNSPW"TQL"cN" TZQPQT[NPU_N]" QM" QL" NVXUPUTQRRW" cQMN]" VN[ZS]SRS^W" lN+^+" 5Qa" !AA9K" 5Q[S\P"9EEFK" 9EEBm" [ZQ[" UM" cQMN]" \XSL" [ZN" ^NLNPQR" U]NQ" [ZQ[" PNQRU[W" UM" VQ]N" \X" SY"PNRQ[USLMZUXM" QL]" [ZN"aQWK" UL"aZUTZ" [ZNMN" QPN" YSPVN]" QL]" NM[QcRUMZN]+"2NPNK" [ZN"YST\M" UM" SL" ZSa" [ZN" TSVXSLNL[M" [ZQ[" VQbN" \X" [ZNMN" PNRQ[USLMZUXM" NL^Q^N" QL]"V\[\QRRW" ULYR\NLTN" NQTZ" S[ZNPK" QL]" U[" UM" YPSV" [ZUM" XSUL[" SY" ]NXQP[\PN" [ZQ[" PNQRU[W"MZS\R]" cN" TSVXPNZNL]N]" QL]" QLQRW_N]+" #L" [ZUM" XNPMXNT[UONK" PNRQ[USLMZUXM" QPN" LS["MNNL" QM" [ZN" PNM\R[" SY" UL[NPQT[USLM" cN[aNNL" TS^LU[UON" M\cdNT[M" [ZQ[" YSPV" MSTUQR"LN[aSPbMK"c\["PQ[ZNP"[ZPS\^Z"[ZN"TSVXRN`"SY"]UYYNPNL["TSVXSLNL[M"[ZQ["QPN"ULOSRON]"UL" UL[NPQT[USL+"7ZNL" XNSXRN" NL^Q^NK" [ZNW" ]S" LS[" SLRW" NL^Q^N"aU[Z" S[ZNP" XNSXRN+"&Q[ZNPK"[ZN"RSL^"PQL^N"SY"YQT[SPM"[ZQ["ULYR\NLTN"QL]"QYYNT["[ZNUP"NL^Q^NVNL[M"QPN"Q["M[QbNg"YQT[SPM"[ZQ["QT[UONRW"VN]UQ[N"[ZN"UL[NPQT[USL"QL]"[Z\M"cNTSVN"qQT[UONr+"#L"[ZUM"aQWK"PNQRU[W"TQL"cN"MQU]"[S"cN"YSPVN]"cW"[ZN"TSLLNT[USL"cN[aNNL"Z\VQLM"QL]"LSLDZ\VQL" TSVXSLNL[MK" aZNPN" [ZN" VQ[NPUQR" UM" MNNL" QM" [ZQ[" aZUTZ" bNNXM" [ZN" MSTUQR"[S^N[ZNP"lN+^+"5Q[S\P"!AA!K"5Qa"!AA9m+"#L"QT[SPDLN[aSPb"[ZNSPWK"[ZNMN"TSVXSLNL[M"QPN"TZQPQT[NPU_N]"QM"qQT[SPMr+""""#L"[ZN"NVXUPUTQR"XPSdNT[M"[ZQ["ZQON"YSPVN]"Q"XSUL["SY"]NXQP[\PN"UL"[ZUM"M[\]WK"Q"

M\cM[QL[UQR" QVS\L[" SY" QT[SPM" QPN" ULOSRON]+" %ZNPN" UM" Q" PQL^N" SY" Z\VQL" QT[SPM1"UL]UOU]\QRM" QL]" QRMS" ^PS\XM" [ZQ[" TSLM[U[\[N" XPSYNMMUSLQR" [PQ]NM" M\TZ" QM" QPTZU[NT[MK"XPSTNMM"]NMU^LNPM"SP"VQLQ^NPM+".RMSK"[ZNPN"QPN"[ZN"cPSQ]NP"TQ[N^SPUNM"SY"NL]"\MNPM"lSY"[ZN"c\UR]UL^m"SP"TU[U_NLM"lUL"Q"V\LUTUXQRU[Wm+"#L"Q]]U[USLK"Q"RQP^N"L\VcNP"SY"LSLDZ\VQL" QT[SPM" QPN" ULOSRON]1" [N`[MK" ]PQaUL^MK" MbN[TZNMK" ]UQ^PQVMK" XUT[S^PQVMK" C("PNL]NPUL^MK" VS]NRMK" TQP]cSQP]" XRQ[NMK" 4SaNP4SUL[" XPNMNL[Q[USLMK" XZPQMNM" QL]"h\NM[USLM" [ZQ[" M[P\T[\PN" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" QL]"VSPN+" #[" UM" [ZN" QcURU[W" YSP"[ZNMN" TSL[PUc\[SPM" [S" TSLLNT[" QL]" [ZNPNcW" YSPV" LN[aSPbMK" TQXQcRN" [S" QT[" QL]"ULYR\NLTN" [ZN" TSL[N`[K" [ZNW" PNYNP" [SK" aZUTZ" VQbNM" \X" [ZN" TNL[PQR" TSLM[U[\NL[M" SY"QT[SPDLN[aSPb" [ZNSPW+"7ZNL" #" ZQON" cNNL" ULMXUPN]" cW" QT[SPDLN[aSPb" [ZNSPW" QM" QL"QXXPSQTZ"[S"QLQRW_N"[ZUM"VQ[NPUQRK"VW"ULTRULQ[USL"ZQM"[Z\M"cNNL"[S"N`XRSPN"ZSa"[ZN"PNRQ[USLMZUX" cN[aNNL" [ZNMN" Z\VQL" QL]" LSLDZ\VQLIVQ[NPUQR" QT[SPM" TQL" cN" MQU]" [S"TSL[PUc\[N"[S"[ZN"NVNP^NLTN"SY"Q"]NMU^L"MSR\[USL+"""

;!""

-W"PNVSOUL^"[ZN"[PQ]U[USLQR"XPUSPU[W"^UONL"[S"Z\VQL"XNPTNX[USLK"QT[SPDLN[aSPb"[ZNSPW"VQPb" [ZQ[" QL" QT[SP" ]SNM" LS[" ZSR]" QL" UL[PULMUT"VNQLUL^K" c\[" TQL" PQ[ZNP" cN"TZQPQT[NPU_N]" cW" Q" ^NLNPQR" QcMNLTN" SY" NMMNLTN+" %ZN"VNQLUL^" [ZQ[" QL" QT[SP"VU^Z["ZSR]" [ZNPNcW" RUNM" UL" U[M" PNRQ[USLMZUX"aU[Z"S[ZNP" QT[SPMK" LS["aU[ZUL" [ZN" QT[SPHM" SaL"TSLM[U[\[USL+" 2NPNK" QT[SPM" TSLLNT[" QL]" YSPV" PNRQ[USLMZUXM" [ZQ[" TQL" NM[QcRUMZ" UL[S"LN[aSPbM+" #[" UM" [ZN"LN[aSPb"SY"PNRQ[USLMZUXM" [ZQ["ZSR]M" [ZN"TQXQTU[W" [S"QT[K"LS[" [ZN"QT[SPM"[ZNVMNRONM"lN+^+"5Q[S\P"!AAAm+"""%ZNPN" QPN" MNONPQR" UL[NP[aULN]" TSLTNX[M" [ZQ[" QT[SPDLN[aSPb" [ZNSPW" QUVM" [S"

N`XRSPN" QM" Q"VN[ZS]SRS^UTQR" QXXPSQTZ" UL[NPNM[N]" UL" ZSa" TZQL^N" [QbNM" XRQTN" QL]"[ZNPNcW" TSLM[U[\[NM" [ZN" NVNP^NLTN" SY" [ZN" MSTUQR+" #L" [ZN" YSRRSaUL^K" #" ZQON" c\["YST\MN]" SL" Q" YNa" M\TZ" TSLTNX[MK" QRR" SY" aZUTZ" ZQON" cNNL" UVXSP[QL[" MS\PTNM" SY"ULMXUPQ[USL" UL" [ZN" XPSTNMM" SY" QLQRW_UL^" [ZN" NVXUPUTQR" VQ[NPUQR" [ZQ[" ZQM" cNNL"XPS]\TN]" UL" [ZN" M[\]W+" %ZN" TSLTNX[M" QPN1" LN[aSPbK" [PQLMRQ[USLK" MXSbNMVQLK"ULMTPUX[USLIULMTPUX[USL"]NOUTNM"QL]"TUPT\RQ[UL^"PNYNPNLTNM+".R[ZS\^Z"QT[SPDLN[aSPb"[ZNSPW" UM" [S]QW" PNXPNMNL[N]" cW" h\U[N" Q" cPSQ]" ^PS\X" SY" MTZSRQPMK" #" ZQON" XPUVQPURW"YST\MN]"SL"[ZN"TSLTNX[M"QM"[ZNW"ZQON"cNNL"]UMT\MMN]"cW"MSTUSRS^UM[M"-P\LS"5Q[S\PK"<UTZNR"*QRRSL"QL]"<Q]NRNULN".bPUTZ+"""

-5=D67LS!=79:@>9=;6:!9:M!@?6L5@P9:!

%ZN" TSLTNX[" SY" LN[aSPb" QL]" [ZN" TQXQTU[W" [S" NM[QcRUMZ" LN[aSPbM" PNXPNMNL[" Q"YS\L]Q[USL" UL" QT[SPDLN[aSPb" [ZNSPW+"$N[aSPbM" QPN"VQ]N" \X" SY" PNRQ[USLM" cN[aNNL"QT[SPM+"#["UM"[ZN"RULbM"[ZQ["YSPV"[ZN"PNRQ[USLM"[ZQ["TSLM[U[\[N"[ZN"LN[aSPb"QL]"[ZNPNcW"[ZN"QcURU[W"[S"QT[+"2NPNK"SLN"QT[SP"TQL"LNONP"QT["QRSLN+".T[USL"UM"TQ[QRW_N]"[ZPS\^Z"[ZN"M\XXSP["[ZQ["UM"NM[QcRUMZN]"[ZPS\^Z"[ZN"LN[aSPbK"QL]"U["UM"[ZN"PNRQ[USLM"cN[aNNL"QT[SPM"UL"[ZN"LN[aSPb"[ZQ["QPN"TSL[UL\S\MRW" ULYR\NL[UQR+"%ZN"QT[SPM"ULOSRON]"UL"[ZN"LN[aSPb"TQL" [Z\M"cN" MQU]" [S" UVXSMN"SL^SUL^"TZQL^N"SL"NQTZ"S[ZNP+"%ZNW"QPN"LS["NU[ZNP"M[Q[UT"SP"M[QcRNK"c\["XNPXN[\QRRW"[PQLMYSPVUL^"QL]"NVNP^NL["k"UL"[ZN"TQ\MN"SY"[ZNUP"UL[NPQT[USL"l.bPUTZ"!AA?K"5Q[S\P"!AAAK"9EEBm+"""%ZN"TSLTNX["SY"LN[aSPb"UM"TRSMNRW"QYYURUQ[N]"aU[Z"[ZQ["SY"[PQLMRQ[USL+"."LN[aSPb"

UM"VQ]N"\X"SY"QT[SPM" [ZQ["TSLLNT[K"QL]" UL"NONPW"NLTS\L[NP"cN[aNNL"M\TZ"QT[SPMK"Q"[PQLMRQ[USL" [QbNM" XRQTN+" %ZUM" XPSTNMM"VU^Z[" cN" MQU]" [S" YSPV" QL" NXU[SVN" SY" QT[SPDLN[aSPb" [ZNSPW" QM" Q" VN[ZS]SRS^UTQR" QXXPSQTZ+" .T[SPM" YSPV" Q" LN[aSPbK" QL]" [ZUM"YSPVQ[USL"ZQXXNLM"QM"Q"PNM\R["SY"[PQLMRQ[USL"XPSTNMMNM+"-QMN]"SL"[ZNMN"UL[NPQT[USLM"

;9""

lQL]" V\[\QR" XPSTNMMNM" SY" [PQLMRQ[USLMmK" [ZN" QT[SPM" ULOSRON]" TZQL^NK" QTTSP]UL^RW+"%ZN"TSLTNX["SY"[PQLMRQ[USL"[ZNPNcW"N`[NL]M"[ZN"TRQMMUTQR"\L]NPM[QL]UL^"SY"[ZN"[NPVK"QM"Q"aQW"[S"MNT\PN"RUL^\QR"TSVV\LUTQ[USL+"5Q[S\P"M\^^NM[M"[ZQ["aN"LNN]"[S"QTTNX["[PQLMRQ[USLK"LS["QM"qQ"MZUY["YPSV"SLN"OSTQc\RQPW"[S"QLS[ZNPK"YPSV"SLN"=PNLTZ"aSP]"[S"SLN"3L^RUMZ"aSP]K"YSP"ULM[QLTNK"QM"UY"[ZN"[aS"RQL^\Q^NM"N`UM[N]"UL]NXNL]NL[RW+"#"\MN]"[PQLMRQ[USL"[S"VNQL"]UMXRQTNVNL[K"]PUY[K"ULONL[USLK"VN]UQ[USLK"[ZN"TPNQ[USL"SY"Q"RULb" [ZQ["]U]"LS[" N`UM["cNYSPN"QL]" [ZQ[" [S" MSVN"]N^PNN"VS]UYUNM" [ZN"SPU^ULQR" [aSr"l5Q[S\P"!AAA1"!?Am+"""&Q[ZNPK" QL]" UL" QRU^LVNL["aU[Z" [ZN"XSUL["QcSONK" [PQLMRQ[USLM" MZS\R]"cN" MNNL"QM"

[ZN"VS]UYUTQ[USL"SP"TZQL^N"[ZQ["[ZN"QT[SPM"ULOSRON]"QPN"M\cdNT[N]"[SK"UL"[ZN"TS\PMN"SY"[ZNUP"UL[NPQT[USLM+"#L"[ZNMN"NLTS\L[NPMK" [ZN"ULOSRON]"XQP[UNM"V\[\QRRW"QYYNT["SLN"QLS[ZNP" QM" Q" PNM\R[" SY" [ZN" ONPW" TSLYPSL[Q[USL+" %ZNW" V\[Q[N" QL]" [Z\M" cNTSVN"MSVN[ZUL^" SP" MSVNSLN" NRMN" lN+^+" 5Q[S\P" !AA!K" !AAAK" 9EEBK".bPUTZ" !AA?m+" %ZNMN"V\[\QR" TZQL^NM" QPN" TZQPQT[NPU_N]" QM" ]UMXRQTNVNL[M" l*QRRSL" QL]" 5Q[S\P" !A,!K"*QRRSL"!A,Bm+"""-\[" U[" UM" LS[" SLRW" [ZN" QcURU[W" [S" YSPV" TSLLNT[USLM" QL]" TQ[QRW_N" ]UMXRQTNVNL[M"

[ZQ["UM"TNL[PQR"UL"[ZN"NM[QcRUMZVNL["SY"Q"LN[aSPb+"#["UM"QRMS"[ZN"QcURU[W"[S"YSPV"76.8"TSLLNT[USLMK" UL"SP]NP" [S" M[PNL^[ZNL" [ZN"LN[aSPb+"%ZN"VSPN" QT[SPM" [ZNPN" QPN" [S"cN"[PQTN]" UL" Q" LN[aSPb" QL]" [ZN" VSPN" [ZPNQ]M" SP" PNRQ[USLM" [ZNPN" QPN" cN[aNNL" [ZNMN"QT[SPMK" [ZN" M[PSL^NP" [ZN" LN[aSPb" cNTSVNM" lN+^+" 5Q[S\P" 9EEFK" 9EEBm+" ." LN[aSPb"cNTSVNM" M[PSL^NP" [ZPS\^Z" U[M" ]NLMU[W1" GSR\VN" TPNQ[NM" M[QcURU[W" QL]" [ZNPNcW" Q"M[PSL^NP"nQP^\VNL[H"SP"QcURU[W"[S"QT["lN+^+"*QRRSL"!A,Bm+"2NPNK"[ZN"U]NQ"SY"XPS]\TN"OSR\VN" UL" [ZN" LN[aSPb" UM" N`XRQULN]" [ZPS\^Z" [ZN" TSLTNX[" SY" Q" MXSbNMVQL1" q%S"[PQLMRQ[N" UM" [S" ]UMXRQTN+" spt" -\[" [S" [PQLMRQ[N" UM" QRMS" [S" N`XPNMM" UL" SLNHM" SaL"RQL^\Q^N"aZQ["S[ZNPM"MQW"QL]"aQL[K"aZW"[ZNW"QT["UL"[ZN"aQW"[ZNW"]S"QL]"ZSa"[ZNW"QMMSTUQ[N"aU[Z"NQTZ"S[ZNP1" U[" UM" [S"NM[QcRUMZ"SLNMNRY"QM"Q"MXSbNMVQL+".["[ZN"NL]"SY"[ZN"XPSTNMMK" UY" U[" UM"M\TTNMMY\RK"SLRW"OSUTNM"MXNQbUL^"UL"\LUMSL"aURR"cN"ZNQP]+"spt"%PQLMRQ[USL" UM" [ZN" VNTZQLUMV" cW" aZUTZ" [ZN" MSTUQR" QL]" [ZN" VQ[NPUQR" aSPR]M"XPS^PNMMUONRW" [QbN"YSPV+"%ZN"PNM\R[" UM"Q" MU[\Q[USL" UL"aZUTZ"TNP[QUL"NL[U[UNM"TSL[PSR"S[ZNPMr"l*QRRSL"!A,B1"9!;D9!Fm+""#L"[ZUM"h\S[Q[USLK"U["TSVNM"YSP[Z"[ZQ["[ZN"M[PSL^NM["QT[SP"UM"[ZN"SLN"[ZQ["M\TTNN]M"

UL"YSPVUL^"Q"\LUMSL"OSUTNK"[ZPS\^Z"aZUTZ"U["TQL"QT["SL"cNZQRY"SY"S[ZNPM"l*QRRSL"QL]"5Q[S\P"!A,!K"*QRRSL"!A,Bm+"#Y"QL"QT[SP"^QULM"[ZN"QcURU[W"[S"MQW"qnsSt\P"UL[NPNM[M"QPN"

;C""

[ZN"MQVNHr"U["cNTSVNM"[ZN"MXSbNMVQL"SY"[ZN"LN[aSPb+"2NPNK"[ZN"QT[SP"VScURU_NM"Q"LN[aSPb" SY" M\XXSP[NPM" [ZQ[" VQbNM" U[" XSMMUcRN" [S" MXNQb" QM" qn\MHr+" #L" [ZUM" aQWK"MXSbNMVNL" [PQLMRQ[N" qS[ZNP" QT[SPM" UL[S" Q" MUL^RN" aURRr" l*QRRSL" QL]" 5Q[S\P" !A,!1"9?Am+"%ZNW"QPN"NL[U[UNM"[ZQ["qTSL[PSR"S[ZNPMr"l*QRRSL"!A,B1"9!Fm+"""#L" [ZUM" aQW" aN" VU^Z[" MQW" [ZQ[" [ZN" XPSTNMM" SY" [PQLMRQ[USL" LS[" SLRW" ZQM" [ZN"

TQXQTU[W" [S" TQ[QRW_N" TZQL^N" [ZPS\^Z" NLTS\L[NPM" cN[aNNL" QT[SPM" [ZQ[" YSPV"PNRQ[USLMZUXM" UL"LN[aSPbM+".RMSK" [ZN"XPSTNMM" ULOSRONM" Q" TSLLNT[USL"cN[aNNL"\LU[M"[ZQ[" aNPN" XPNOUS\MRW" TSLMU]NPN]" ]UYYNPNL[" l*QRRSL" !A,BK" 5Q[S\P" !AAAm+" 2NPNK" [ZN"MXSbNMVQL" MXNQbM" SL" cNZQRY" SY" S[ZNPM" cW" QMMNVcRUL^" QRR" UL[S" SLN" OSUTN+" %ZUM"XPSTNMM" SY" VScURU_UL^" Q" LN[aSPb" SY" QT[SPM" [S" YSPV" Q" \LUMSL" OSUTNK" UL" SP]NP" [S"M\XXSP["Q"TNP[QUL"U]NQK"UM"TSVXRN`"QL]"Y\RR"SY"TZQRRNL^NM+"2NPNK"QRR"bUL]M"SY"QT[SPM"[S"M\XXSP["SP"ScM[P\T["[ZN"U]NQ"TQL"XS[NL[UQRRW"NL^Q^N+"#L"SP]NP"[S"N`XRSPN"ZSa"SLN"XQP[UT\RQP"OUNaXSUL["TQL"cN"MQU]"[S"M\TTNN]"UL"M\TZ"Q"XPSTNMMK"U["UM"[ZN"PNRQ[USLMZUX"cN[aNNL" M\TZ" M\XXSP[UL^" QL]" ScM[P\T[UL^" NL[U[UNM" [ZQ[" MZS\R]" cN" TSLMU]NPN]" QL]"QLQRW_N]+".L"N`QVXRN"SY" [ZUM"XPSTNMM"aURR"cN" URR\M[PQ[N]"QL]"]UMT\MMN]" UL" MNT[USL"F*+"""

.:@A7;?=;6:!9:M!;:@A7;?=;6:!M5B;A5!

.LS[ZNP"TSLTNX["SP"TSLTNX[\QR"XQUP"[ZQ["#"ZQON"YS\L]"ZNRXY\R"UM"[ZN"TSLTNX[M"SY"ULMTPUX[USL" QL]" ULMTPUX[USL" ]NOUTN" lN+^+" .bPUTZ" !AA?K" 5Q[S\P" !AAAm+" 2NPNK" QL"ULMTPUX[USL"]NOUTN"VU^Z["cN"MQU]"[S"cN"Q"ONZUTRNK"QXXQPQ[\M"SP"YPQVNaSPbK"[ZPS\^Z"aZUTZ" LNa" VQ[NPUQR" [S" TQL" cN" XPS]\TN]K" aZURN" [ZN" ULMTPUX[USLM" QPN" M\TZ" LNa"VQ[NPUQR+"%ZPS\^Z"[ZNMN"ULMTPUX[USLM"qQL"NL[U[W"cNTSVNM"VQ[NPUQRU_N]"UL[S"Q"MU^LK"QL"QPTZUONK"Q"]ST\VNL[K"Q"XUNTN"SY"XQXNPK"Q"[PQTNr"l5Q[S\P"!AAA1"CE?m+"#LMTPUX[USLM"]S"LS["ZSR]"Q"TRNQP"VNQLUL^"SP"TSL[NL[+"&Q[ZNPK"[ZNW"VQ[NPUQRU_N"QM"NL[U[UNM"[ZPS\^Z"[ZN"M\cMNh\NL[" TSL[N`[" lSY" PNRQ[USLMZUXMm" aU[ZUL" aZUTZ" [ZNW" ULOSRON+" %ZNW" ^N[" UL[S"MZQXN" [ZPS\^Z" XPSTNMMNM" SY" [PQLMRQ[USL+" %ZPS\^Z" cNUL^" M\cdNT[N]" [S" [PQLMRQ[USLMK"ULMTPUX[USLM" TQL" cN" MQU]" [S" cN" qVScURNK" [ZNW" QRRSa" LNa" [PQLMRQ[USLM" QL]"QP[UT\RQ[USLM"aZURN"bNNXUL^"MSVN"[WXNM"SY"PNRQ[USLM"UL[QT[r"lUcU]m+"2NPNK"5Q[S\P"QRMS"\MNM" [ZN" TSLTNX[\QR" [NPV" SY" qUVV\[QcRN" VScURNr" lUcU]+m" [S" ]NMTPUcN" aZQ[" QL"ULMTPUX[USL"UM+"%ZUM"TSL[PQ]UT[SPW"MN[\X"TSVcULNM"MNONPQR"QT[SPDLN[aSPb"[ZNSPN[UTQR"TSLTNX[M1"%ZPS\^Z"[ZN"XPSTNMM"SY" [PQLMRQ[USLK"QL"NL[U[W"LNTNMMQPURW"TZQL^NM" UL" [ZN"NLTS\L[NPM"aU[Z"S[ZNP"NL[U[UNM+"2SaNONPK"U["UM"QRMS"UL"[ZUM"XPSTNMM"[ZQ["TSLLNT[USLM"TQL"cN"YSPVN]"cN[aNNL"[ZUL^M"[ZQ["aNPN"XPNOUS\MRW"TSLMU]NPN]"QM"cNUL^"]UYYNPNL[+"

;;""

.L" ULMTPUX[USL" UM" [Z\M" qVScURNr" UL" [ZN" MNLMN" [ZQ[" U[" TQL" TSL[PUc\[N" [S" [PQLMYSPV"MSVN[ZUL^K" UL[S" MSVN[ZUL^" NRMNK" aZURN" Q[" [ZN" MQVN" [UVN" cNUL^" qUVV\[QcRNr" k"n\LTZQL^NQcRNH+" #L" [ZUM" aQWK" QL" ULMTPUX[USL" TSLT\PPNL[RW" ULOSbNM" MQVN" QL]"]UYYNPNL[+"2NPNK" [ZN" qVScURU[Wr" TSL[PUc\[NM" [S" YSPV" TSL[UL\S\M" TZQL^NK"aZURN" [ZN"qUVV\[QcURU[Wr"PNXPNMNL[M"[ZN"U]NQ"[ZQ["QL"NL[U[W"TQL"NVNP^N"UL"]UYYNPNL["ONPMUSLM1"U["TQL"[PQONR"QL]"[QbN"SL"]UYYNPNL["MZQXNM"QL]"YSPVQ[MK"UL"[ZN"TS\PMN"SY"U[M"TZQL^NM+"""#L"cS[Z"SY"[ZN"NVXUPUTQR"XPSdNT[M"[ZQ["YSPV"[ZN"XSUL["SY"]NXQP[\PN"UL"[ZUM"M[\]WK"

[ZN"VN[ZS]"SY"NL]"\MNP"XQP[UTUXQ[USL"ZQM"YSPVN]"Q"TNL[PQR"QLQRW[UTQR"ScdNT[+".VSL^"S[ZNP" [ZUL^MK" #" ZQON" QUVN]" [S" N`XRSPN" ZSa" [ZN" S\[TSVN" SY" M\TZ" UL[NPQT[UON"XPSTNMMNM"aU[Z"NL]"\MNP"PNXPNMNL[Q[UONM"TQL"cN"MQU]"[S"ULYSPV"[ZN"NVNP^NLTN"SY"Q"]NMU^L" MSR\[USL+"7U[Z" [ZNMN" [aS" TSLTNX[M" lULMTPUX[USL" ]NOUTN" QL]" ULMTPUX[USLm" UL"VUL]K"aN"VU^Z[" MQW" [ZQ[" [ZN" TSLTNX[\QR" YPQVNaSPb" SY" [ZN" UL[NPQT[UON"aSPbMZSXM"lTSLM[U[\[N]" YSP" N`QVXRN" cW" TNP[QUL"aSPbMZSX" N`NPTUMNM" QL]ISP" h\NM[USLMm" TQL" cN"MNNL"QM"QL"ULMTPUX[USL"]NOUTNK"[ZPS\^Z"aZUTZ"OQPUS\M"ULMTPUX[USLM"TQL"cN"YSPVN]+""

!

-\[" [ZNMN" N`NPTUMNM" QL]" h\NM[USLM" ]U]" LS[" SLRW" TSL[PUc\[N" [S" XPS]\TN"ULMTPUX[USLM+".RMSK"[ZNW"aNPN"QRPNQ]W"ULMTPUcN]"cW"OQPUS\M"ULMTPUX[USLM"k"TSLTNX[\QR"U]NQM" [ZQ[" PNXPNMNL[N]" [ZN"XPSdNT[MH"]UYYNPNL["QL]"SY[NL"QcM[PQT["QMXUPQ[USLM+" #L" [ZN"TS\PMN" SY" [ZN" XQP[UTUXQ[USL"aSPbMZSXMK" LNa" ULMTPUX[USLM"aNPN" XPS]\TN]1"VQ[NPUQR"[ZQ["aNL[" [ZPS\^Z" MNONPQR" RNONRM"SY" [PQLMRQ[USLK" UL"SP]NP" [S" ULYSPV" [ZN"TSL[UL\S\M"]NMU^L"XPSTNMMNM+"%ZN"aSPbMZSX"YPQVNaSPb"PNXPNMNL[N]"QL"ULM[P\VNL["lULMTPUX[USL"]NOUTNmK"[ZPS\^Z"aZUTZ"[ZN"NL]"\MNP"PNXPNMNL[Q[UONM"aNPN"^UONL"[ZN"SXXSP[\LU[W"[S"XPSOU]N" ULYSPVQ[USL" lULMTPUX[USLMm" [ZQ[" aQM" cPS\^Z[" [ZPS\^Z" XPSTNMMNM" SY"[PQLMRQ[USL" QL]" M\cMNh\NL[RW" ULMTPUcN]" UL[S" [ZN" ]NMU^L" XPSTNMM+" " 2NPNK" [ZN"XQP[UTUXQL[M" aNPN" ULYR\NLTN]" cW" [ZN" ULU[UQR" ULMTPUX[USLM" [ZQ[" TSLM[U[\[N]" [ZN"aSPbMZSXK" aZURN" [ZNW" QRMS" TSL[PUc\[N" [S" YSPV" LNa" ULMTPUX[USLM+" #L" [ZUM" aQW" aN"VU^Z["MQW"[ZQ["ULMTPUX[USLM"TZQL^N"QT[SPM"QL]"QPN"cNUL^"TZQL^N]"cW"[ZNV+"""-PUL^UL^" [ZN"TSLTNX[M"SY" ULMTPUX[USL"SLN"M[NX" Y\P[ZNPK"5Q[S\P" MQWM" [ZQ["q7ZNL"

UVV\[QcRN" VScURNM" QPN" TRNONPRW" QRU^LN]K" [ZNW" XPS]\TN" [ZN" TUPT\RQ[UL^" PNYNPNLTNu"l5Q[S\P"!AAA1"CE?m+"%ZUM"U]NQ"SY"Q"TUPT\RQ[UL^"PNYNPNLTNK"QL]"SY"ZSa"QL"ULMTPUX[USL"TQL" VSON" QL]" TZQL^N" aZURN" bNNXUL^" Q" ^NLNPQR" MZQXNK" ZQM" cNNL" [ZN" RQM[" TNL[PQR"QT[SPDLN[aSPb" [ZNSPN[UTQR" TSLTNX[" [ZQ[" #" ZQON"QXXRUN]" UL"VW"XPSTNMM"SY" QLQRW_UL^"[ZN"NVXUPUTQR"VQ[NPUQR+""

!

;F""

";7AC>9=;:8!75G575:A5@!

5Q[S\P"ZQM"N`XRSPN]"[ZUM"TSLTNX["UL"[ZN"NMMQW"n*UPT\RQ[UL^"&NYNPNLTN1"6QVXRUL^"[ZN"6SUR"UL"[ZN".VQ_SL"=SPNM[H"l5Q[S\P"!AAAm+"2NPNK"ZN"URR\M[PQ[NM"ZSa"[ZN"MSUR"UL"[ZUM" XQP[UT\RQP" XQP[" SY" [ZN" MQOQLLQ" UM" cNUL^" ]NMTPUcN]" QL]" [ZNPNcW" TSLM[U[\[N]K"[ZPS\^Z" [ZN" TSRRQcSPQ[USL" cN[aNNL" [ZPNN" MTUNL[UM[M" UL" Q" PNMNQPTZ" [NQVK" NQTZ"PNXPNMNL[UL^" ]UYYNPNL[" XPSYNMMUSLQR" YUNR]M+" %ZN" NMMQW" UM" QL" N`QVXRN" SY" ZSa" q[ZN"aSPR]" ^N[M" XQTbN]" UL[S" aSP]MrK" QM" 5Q[S\P" TQRRM" U[" lUcU]1" 9;mK" UL" SP]NP" YSP" \M" [S"TSVXPNZNL]"QL]"\L]NPM[QL]"[ZN"XZNLSVNLQ"[ZQ["TSVN"[S"PNXPNMNL["[ZNV+"%ZPS\^Z"Q"]N[QURN]"]NMTPUX[USL"SY"ZSa"[ZN"VQ[[NP"Q["M[QbN"lMSURm"[PQONRM"[ZPS\^Z"XPSTNMMNM"SY"[PQLMRQ[USL" UL" [ZN" TS\PMN" SY" [ZN" N`TZQL^NM" cN[aNNL" [ZN"VNVcNPM" SY" [ZN" ULOSRON]"PNMNQPTZ" [NQVK" 5Q[S\P" ]UMTRSMNM" ZSa"bLSaRN]^N" QcS\[" [ZN" XZNLSVNLSL" UM" cNUL^"NM[QcRUMZN]"k"[S"YSPV"aZQ["ZN"TZQPQT[NPU_NM"QM"MSUR"MTUNLTN+"%ZUM"NM[QcRUMZVNL["]SNM"LS["ZQXXNL"QM"Q"PNM\R["SY"RS^UTQR"SP"TQ\MQR"TSLLNT[USL"cN[aNNL"[ZN"TSVXSLNL[M"[ZQ["TSLM[U[\[N" [ZN"MSUR"QL]" [ZN"aSP]M"\MN]" [S"QP[UT\RQ[N"QL]" [Z\M"QT[UOQ[N" U[+"&Q[ZNPK" U["STT\PM" [ZPS\^Z" [ZN"aQW" [ZQ[" [ZUM" XQP[UT\RQP" XZNLSVNLSL" UM" cNUL^" [PQLMYNPPN]" QL]"[PQLMYSPVN]"cW"[ZN"\MN"SY"Q"TNP[QUL"PNYNPNLTN+"""7ZQ["5Q[S\P"UL]UTQ[NM"[ZPS\^Z"ZUM"\MN"SY"[ZN"TSLTNX["SY"Q"PNYNPNLTN"UM"[ZQ["[ZN"

[PQ]U[USLQR"Q[[NVX["[S"c\UR]"Q"cPU]^N"cN[aNNL"RQL^\Q^N"QL]"LQ[\PN"UM"UPPNRNOQL[1"q#"aQL["[S"MZSa"[ZQ["[ZNPN"UM"LNU[ZNP"TSPPNMXSL]NLTNK"LSP"^QXMK"LSP"NONL"[aS"]UM[ULT["SL[SRS^UTQR"]SVQULMK"c\["QL"NL[UPNRW"]UYYNPNL["XZNLSVNLSL1"TUPT\RQ[UL^"PNYNPNLTNr"MQWM"5Q[S\P"l!AAA1"9;m+"-W"[ZUM"PNVQPb"ZN"TZQPQT[NPU_NM"[ZN"TSLTNX["SY"Q"PNYNPNLTNK"aZUTZ"TSVNM"YPSV"5Q[UL"QL]"VNQLM"q[S"cPUL^"cQTbr"lUcU]1"C9m+"."PNYNPNLTN"UM"LS["MSVN[ZUL^"[ZQ["PNXPNMNL[M"U[MNRYK"c\["PQ[ZNP"Q"]NMTPUX[USL"SY"[ZN"dS\PLNW"SY"TZQL^NMK"]UMXRQTNVNL[MK" LN^S[UQ[USLM" QL]" M[QcURU_Q[USLM" [ZQ[" Q" XZNLSVNLSL" ^SNM" [ZPS\^Z"YPSV"SLN"M[Q^N"[S"[ZN"LN`[K"UL"SP]NP"[S"PNQXXNQP"UL"Q"LNa"YSPVQ["lN+^+"5Q[S\P"!AA!K"!AAAm+" (NMXU[N" M\cM[QL[UQR" TZQL^NMK" [ZN" TSL[UL\Q[USL" SY" [ZN" XZNLSVNLSL" UM"VQUL[QULN]"[ZPS\^Z"[ZN"TZQUL"SY"QMMSTUQ[USLM"[ZQ["TSVN"[S"PNXPNMNL["U[+"#L"[ZN"NMMQWK"5Q[S\P" ]NVSLM[PQ[NM" ZSa" M\TZ" XZNLSVNLQ" ^S" [ZPS\^Z" XPSTNMMNM" SY" TZQL^N" QL]"VS]UYUTQ[USL" [ZQ["aN" TSLLNT[" [S" [ZN"SPU^ULQR" ONPMUSL"k[ZPS\^Z" Q"V\[\QR" YPQVN"SY"PNYNPNLTN+"%ZN" PNYNPNLTN"bNNXM"\X"TSL[UL\U[WK" QL]"SL" [ZQ["cQMUMK" [ZN"XZNLSVNLSL"TQL" \LYSR]" QL]" ]NONRSX+" q%ZN" TUPT\RQ[UL^" ScdNT[" TSL[UL\NM" [S" TUPT\RQ[N" QL]"TSL[UL\NM" [S" ^QUL" U[M" UMS[PSXW" cW"aZQ[" S[ZNP" QT[SPM" ]S" [S" U[r" l5Q[S\P" 9EEB1" 99Fm+"2NPNK" Q" TZQUL" SY" QT[SPM" SP" NONL[M" QPN" RULbN]" [S^N[ZNP" OUQ" [ZN" PNYNPNLTN+" #[" UM" [ZN"PNYNPNLTN"[ZQ["QRRSaM"[ZN"]UQ^PQVK"[N`["SP"S[ZNPK"[S"[PQONR+"#L"[ZN"QLQRWMUM"UL"MNT[USL"

;B""

B*K" #" URR\M[PQ[N" QL]" ]UMT\MM" ZSa" Q" XQP[UT\RQP" PNYNPNLTN" MNNVM" [S" TUPT\RQ[N" QL]"[ZNPNcW" ULYSPV" LS[" SLRW" [ZN" QPTZU[NT[\PQR" ]NMU^L" MSR\[USLK" c\[" QRMS" [ZN"SP^QLU_Q[USLQR" ]NMU^L" MSR\[USL+" %ZN" QLQRWMUM" ]UMTRSMNM" ZSa" [ZN" PNYNPNLTN" bNNXM"TUPT\RQ[UL^K" c\[" QRMS" ZSa" U[" cPNQbM" aZNL" LS[" cNUL^" bNX[" \X" UL" [ZN" TZQUL" SY"QMMSTUQ[USLM+"""#L" [ZUM" TZQX[NPK" #" ZQON" QUVN]" [S" XPNMNL[" [ZN" RU[NPQ[\PN" #" PNYNP" [S" UL" [ZN" [ZNMUM+"

=UPM[K"#"XPSOU]N]"Q"cPUNY"QL]"XPSOUMUSLQR"S\[RULN"SY"MSVN"SY"[ZN"QXXPSQTZNM"[ZQ["QPN"T\PPNL[RW" UL" YST\M" aU[ZUL" [ZN" QPNQ" SY" n6XQTN" UL" SP^QLU_Q[USL" M[\]UNMH+" 6NTSL]K" #"]NMTPUcN]" Q" L\VcNP" SY" TNL[PQR" TSLTNX[M" aU[ZUL" [ZN" QPNQM" SY" n6NLMNVQbUL^" UL"SP^QLU_Q[USLMH"QL]"n.T[SPDLN[aSPb"[ZNSPWH+""#L"[ZN"QLQRWMNM"[ZQ["TSLM[U[\[N"TZQX[NPM"F"QL]"B"SY"[ZN"[ZNMUMK"#"\MNP"[ZNMN"TSLTNX[M"QM"Q"VNQLM"[S"]UMT\MM"[ZN"NONL[M"Q["M[QbN"UL"[ZN"XPSdNT[M+"""

" "

;?""

"#$%&'(!T*!K'&#+0+3+,U!

"

+#$(",-!$+"#&

#L"[ZUM"TZQX[NPK"#"QUV"[S"]NMTPUcN"[ZN"VN[ZS]SRS^UTQR"QXXPSQTZ"#"ZQON"\MN]"UL"[ZN"M[\]W+"-W"VN[ZS]SRS^WK"#"VNQL"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"PNMNQPTZ"h\NM[USL"[ZQ["[ZN" [ZNMUM" QUVM" [S" Q]]PNMMg" [ZN" [ZNSPN[UTQR" QXXPSQTZNM" #" ZQON" \MN]" [S" \LYSR]" [ZUM"h\NM[USLK" QL]" YULQRRW" [ZN" VN[ZS]M" QXXRUN]" [S" \L]NP[QbN" [ZN" QT[\QR" ULh\UPW+" %ZN"QLQRWMNM"#"XPNMNL["UL"TZQX[NPM"F"QL]"B"QPN"cQMN]"\XSL"[ZN"M[\]W"SY"[ZN"[aS"NVXUPUTQR"TQMNM1"2URRNPe]"<\LUTUXQRU[WHM" LNa" [SaL" ZQRR" QL]".PbU[NVQHM" LNa" ]SVUTURN" %ZN"<UbQ]S"2S\MN+".M"[ZN"TQMNDSP^QLU_Q[USLM"aNPN"M\cM[QL[UQRRW"]UYYNPNL["UL"M[P\T[\PN"QL]"TSLM[U[\[USL"QL]"[ZN"[aS"TQMNM"aNPN"cQMN]"SL"PQ[ZNP"]UYYNPNL["^NLNPQR"S\[RULNMK"[ZN"PNMNQPTZ"]NMU^L"#"ZQON"\MN]"[S"QXXPSQTZ"[ZNV"ZQM"QRMS"]UYYNPN]+"2SaNONPK"[ZN"VN[ZS]M" #" ZQON" \MN]" UL" SP]NP" [S" M\XXSP[" [ZN" QTT\V\RQ[USL" SY" NVXUPUTQR"VQ[NPUQR"ZQON" cNNL" [ZN" MQVN" UL" cS[Z" TQMNM1" XQP[UTUXQL[" ScMNPOQ[USLK" UL[NPOUNaM" QL]"]ST\VNL["QLQRWMUM+"-NRSaK"#"YUPM["UL[PS]\TN"[ZN"VN[ZS]SRS^UTQR"XSUL["SY"]NXQP[\PN+"6NTSL]K" #" cPUNYRW" UL]UTQ[N" [ZN" [ZPNN" VN[ZS]M" #" ZQON" \MN]" QL]" [ZN" TSLLNT[USLM"cN[aNNL"[ZNV+"%ZUP]K"#"UL[PS]\TN"VW"QXXPSQTZ"[S"[ZN"YUNR]+"=ULQRRWK"#"]NMTPUcN"[ZN"VN[ZS]M" UL" VSPN" ]N[QURK" QTTSP]UL^" [S" ZSa" #" ZQON" NL^Q^N]" aU[Z" [ZN" NVXUPUTQR"XPSdNT[M+""'

;,""

$2%&8%$2","3"0+!*3&*''("*!21&*&0%#%(*3&"-$3+#%;!

q(Q[Q"QPN"LS["^UONL"cW"N`XNPUNLTNK"c\["cW"[ZN"TSLTNX["SY"[ZN"RQL^\Q^N"\MN]"[S"UL[NPXPN["U[+"'cMNPOQ[USLQR"RQL^\Q^N"UVXSMNM"]UMTPN[N"cS\L]QPUNM"SL"[ZN"TSL[UL\U[W"SY"[ZN"XZNLSVNLQR"aSPR]"MS"QM"[S"]NYULN"TSLTPN[NK"UL]UOU]\QR"NONL[M"UL"[ZQ["aSPR]+"6\TZ" NONL[M"VQW" cN" MUVXRNK" MSRU]" ScdNT[M" RUbN" MLSacQRRMK" SP" TSVXRN`K" LSL[QT[URN"NONL[M" RUbN" cNZQOUSP" MNh\NLTNM+"7ZN[ZNP" MUVXRN" SP" TSVXRN`K" XZNLSVNLQR" NONL[M"XSMMNMM" [aS" XPSXNP[UNM" aZSMN" MU^LUYUTQLTN" YSP" MTUNL[UYUT" ULh\UPW" TQLLS[" cN"SONPM[Q[N]1"%ZNW"QPN"\LUh\N"QL]"[PQLMU[SPW+r"l=PNNMN"!A,E1"9,K"UL"7NUTb"!AAF1"!E?m""#L" [ZN"XPSdNT[K" #"ZQON" M[\]UN]"SP^QLU_N]" NL]"\MNP"XQP[UTUXQ[USL" UL"XPSTNMMNM"SY"

SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^LK"QL]" [ZN" PNRQ[USLMZUX"cN[aNNL"MSVN"SY" [ZN"XRQWNPM" ULOSRON]" UL" [ZNMN" XPSTNMMNM+" %ZN" M[\]W" ZQM" ^NLNPQRRW" ZNR]" Q" XPSTNMM"XNPMXNT[UONK"LS["SLRW"UL"PN^QP]M"[S"[ZN"PNMNQPTZ"ScdNT[M"QM"M\TZK"c\["QRMS"UL"[NPVM"SY"[ZN"aQW"#"ZQON"N`XRSPN]"[ZNV+"#LMXUPN]"cW"[ZN"h\S[Q[USL"QcSONK"#"ZQON"TSLMU]NPN]"[ZN" NVXUPUTQR" VQ[NPUQR" [ZQ[" [ZN" [aS" TQMNM" ZQON" cNNL" PNXPNMNL[N]" cW" QM" cNUL^"^NLNPQ[N]"UL"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"NONL[M"[ZQ["ZQON"[QbNL"XRQTN"UL"[ZN"XPSdNT["QL]"VW"NL^Q^NVNL["QM"Q"PNMNQPTZNP+"%ZN"M[\]W"ZQM"QUVN]"[S"]UMTRSMN"QL]"]UMT\MM"Q"YNa"SY"[ZN"YNQ[\PNM"[ZQ["[ZNMN"XZNLSVNLQ"SP"XPQT[UTNM"MNNV"[S"PNXPNMNL[K"cQMN]"SL"[ZN"NVXUPUTQR"NONL[M"k"QM"#"ZQON"MNNL"[ZNV+"#["UM"UL"[ZUM"N`TZQL^N"XPSTNMM"[ZQ["[ZN"M[\]W"ZQM"NOSRON]+"JvPOULNL"QL]"<UbD<NWNP"TQX[\PN"[ZUM"XNPMXNT[UON"cW"QMbUL^1"q#M"[ZN"QLQRW[UTQR"ScdNT[" PN^QP]N]"QM"Q"VSPN"SP" RNMM" M[QcRN"\LU[" laZUTZ"VU^Z[K" YPSV"Q"XPSTNMM" XNPMXNT[UONK" \L]NP^S" TZQL^N" SONP" [UVNm" SP" UM" [ZN" QLQRW[UTQR" ScdNT[" XNP"]NYULU[USL" Q" YR\U]K" \LM[QcRN" QL]" QVcU^\S\M" XZNLSVNLSL" [ZQ[" ^N[M" YSPVN]" UL" [ZN"N`TZQL^NM"aU[Z"[ZN"PNMNQPTZNPor"lJvPOULNL"QL]"<UbD<NWNP"9EEF1"Am+"""<W" QXXPSQTZ"VU^Z[" [Z\M" cN" MQU]" [S" cN" cQMN]" SL" Q" TSLM[P\T[USLUM[" XNPMXNT[UON"

lN+^+"-NP^NP"QL]"5\TbVQLL"!AB?K"*SRRUL"9EECK"3MVQPb"N["QR+"9EEFm+"#["VU^Z["QRMS""""""""""""""""""""""""""""""""""""""""""""

9"#L"[ZN"M[\]WK"#"ZQON"YST\MN]"SLRW"SL"SYYUTN"c\UR]UL^M"QL]"XPSdNT[MK"UL"aZUTZ"[ZN"TRUNL["QL]"[ZN"NL]"\MNP"PNXPNMNL[" [ZN"MQVN"SP^QLU_Q[USL+"%ZN"c\UR]UL^"MNT[SP" UM"Q"ZU^ZRW"TSVXRUTQ[N]" UL]\M[PW"aU[Z"Q"VWPUQ]"SY"]UYYNPNL["TSLM[NRRQ[USLMK"aZNPN"VQLW"XRQWNPM"TQL"cN"ULOSRON]"UL"[ZN"XPSdNT["YPSV"[ZN"]NMU^L"XPSTNMM"MN[M"YSP[Z"\L[UR"STT\XQ[USL+"#L"[ZN"M[\]WK"#"ZQON"N`TR\MUONRW"YST\MN]"SL"YS\P"PSRNM"[ZQ["XQP[QbN"UL"[ZUM"XPSTNMMK"QL]" SL" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZNV+" %ZN" YS\P" QPN1" [ZN"VQLQ^NP" SP" VQLQ^NVNL[" [NQV" QM" [ZN" YSPVQR"TRUNL[K" [ZN"M[QYY"VNVcNP"QM"[ZN"NL]"\MNP"QL]"[Z\M"QRMS"TRUNL["PNXPNMNL[Q[UONK" [ZN"QPTZU[NT["PNMXSLMUcRN"YSP"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USLK"QL]" [ZN"XPSTNMM"]NMU^LNPK" PNMXSLMUcRN" YSP"XRQLLUL^"QL]" YQTURU[Q[UL^" [ZN"NL]"\MNP"XQP[UTUXQ[USL+"

;A""

cN" MQU]" [S"]PQa"\XSL" [ZN" [PQ]U[USL"SY" MWVcSRUT" UL[NPQT[USLUMVK"aZUTZ" TRQUVM" [ZQ["[ZN"VNQLUL^"SY"Q"MSTUQR"QT[USL"SP"Q"XZNLSVNLSL"UM"MU[\Q[N]"UL"TSLTPN[N"UL[NPQT[USLM"cN[aNNL" XNSXRN" lN+^+" -R\VNP" !AB?K" &STb" 9EE!m+" =ULQRRWK" U[" UM" ULMXUPN]" cW" [ZN"VN[ZS]SRS^W" SY" QT[SPDLN[aSPb" [ZNSPW" lTY+" MNT[USL" 9*m" [ZQ[" TRQUVM" [ZQ[" [ZN"TSLM[P\T[USL"SY"VNQLUL^"UM"cQMN]"SL"[ZN"UL[NPQT[USL"cN[aNNL"XNSXRN"QL]"[ZUL^MK"QL]"[ZNUP" QcURU[W" [S" TSLLNT[" QL]" [ZNPNcW" [S" QT[" lN+^+"*QRRSL"!A,BK"5Q[S\P" !AA!K" 9EEBK".bPUTZ" !AA?K" *SRRUL" 9EECK" 3R^QQP]" JNLMNL" 9EEFm+" .M" SXXSMN]" [S" [ZN" LQ[\PQRUM["QXXPSQTZ" [ZQ[" [NL]M" [S"MNNb" [ZN"ScdNT[UON" [P\[Z" [ZPS\^Z" [ZN"M\cdNT[UON"N`XNPUNLTNK"[ZUM"QXXPSQTZ"]SNM"LS["QUV"YSP"ScdNT[UOU[W+"&Q[ZNPK"U["QUVM"[S"TPNQ[N"LNa"bLSaRN]^N"QcS\[" [ZN" XZNLSVNLQ" Q[" M[QbN" [ZPS\^Z" [ZN" UL[NPQT[USLM" cN[aNNL" [ZN" PNMNQPTZ"h\NM[USLMK" [ZN" STT\PPNLTNM" UL" [ZN" YUNR]K" VW" XQP[UTUXQ[USL" UL" [ZNMNK" QL]" VW"UL[NPXPN[Q[USLM+" 2NPNK" bLSaRN]^N" UM" LS[" TSLMU]NPN]" MSVN[ZUL^" nS\[" [ZNPNHK" c\["MSVN[ZUL^"[ZQ["UM"cNUL^"XPS]\TN]+""

$:!5=4:6879?4;A!?6;:=!6G!M5?97=C75!

<W"QXXPSQTZ" [S" [ZN"NVXUPUTQR" YUNR]"ZQM"cNNL"cQMN]"SL"N[ZLS^PQXZUT" [PQ]U[USLM"lN+^+" .[bULMSL" N[" QR+" 9EE!m+" 3[ZLS^PQXZUT" PNMNQPTZ" TQL" cN" MQU]" [S" cN" cQMN]" SL"XQP[UTUXQL["ScMNPOQ[USLK"M\XXRUN]"cW"Q]]U[USLQR"VN[ZS]M"M\TZ"QM"UL[NPOUNaMK"[N`[\QR"QLQRWMUMK"OU]NS"QL]"VSPN+"#["UM"qYUPVRW"PSS[N]"UL"YUPM[DZQL]"N`XRSPQ[USL"SY"PNMNQPTZ"MN[[UL^Mr"lUcU]1"Fm+"""%ZNPN" QPN" ]UYYNPNL[" XNPTNX[USLM" SY" ZSa" N[ZLS^PQXZUT" PNMNQPTZ" MZS\R]" cN"

TSL]\T[N]" QL]" [S" aZUTZ" MTUNL[UYUT" [PQ]U[USL" [ZN" VN[ZS]SRS^W" PNYNPM+" #[" ZQMK" QM".[bULMSL"N["QR+"XSUL["S\[K"qLNONP"cNNL"Q"M[QcRN"NL[U[Wr"c\["ZQM"PQ[ZNP"cNNL"qVQPbN]"cW" TSL[PQM[M" QL]" [NLMUSLMr" lUcU]1" ;m+".M" Q"VN[ZS]SRS^UTQR" QXXPSQTZK" N[ZLS^PQXZW"MNNVM" [S"ZQON"^SLN" [ZPS\^Z"M\cM[QL[UQR"]NONRSXVNL[M"SONP" [ZN"WNQPM+"%PQ]U[USLQR"QL[ZPSXSRS^W"QMXUPNM"[S"\L]NPM[QL]"Q"T\R[\PN"cW"NL^Q^UL^"aU[Z"[ZN"RUYN"QL]"aSPR]M"SY" U[M"VNVcNPM" lN+^+" 6XPQ]RNW" !A?AK"0NNP[_" !AACK"%N]RSTb" 9EEEK".[bULMSL" N[" QR+"9EE!K" 3M[NPcNP^" 9EE9K" JvPOULNL" 9EEFK" 3PUbMMSL" QL]" /SOQRQULNL" 9EE,K" <WNPM"9EEAm+"#L"[ZUM"[PQ]U[USLK"[ZN"QL[ZPSXSRS^UM["ScMNPONM"aZQ["LQ[UONM"UL"Q"T\R[\PN"]S"UL"[ZNUP"XPQT[UTN+"-W"QT[UONRW"NL^Q^UL^"UL"[ZUM"XPQT[UTNK"[ZN"QL[ZPSXSRS^UM["RNQPLM"YPSV"lQL]"[Z\M"QcS\[m"[ZN"LQ[UON"l6XPQ]RNW"!A?Am+"%ZPS\^ZS\["[ZN"WNQPMK"[ZN"PNMNQPTZNPHM"XSMU[USL"UL"[ZN"NL^Q^NVNL["aU[Z"[ZN"YUNR]"QL]"aU[Z"[ZN"XPS]\T[USL"SY"[ZN"NVXUPUTQR"VQ[NPUQR" MNNVM" [S" ZQON" ^PQ]\QRRW" PNULYSPTN]K" YSP" N`QVXRN" aU[Z" PN^QP]M" [S" [ZN"XPSTNMM"SY"aPU[UL^"[ZN"PNMNQPTZ"l.[bULMSL"N["QR+"9EE!K"GQL"<QQLNL"!A,,m+""

FE""

"#"ZQON"\MN]"[ZN"N[ZLS^PQXZUT"QXXPSQTZ"QM"Q"VNQLM"[S"^N["[S"bLSa"[ZN"YUNR]"lSP"

PQ[ZNP"TSVcULQ[USL"SY"YUNR]Mm"[ZQ["#"aQL[N]"[S"N`XRSPNK"QL]"MSVN"SY"[ZN"QT[SPM"[ZQ["PNXPNMNL["[ZNMN1"QPTZU[NT[\PQR"]NMU^L"QM"Q"YUNR]g"[ZN"XPSTNMM"]NMU^LNP"QM"Q"LNa"XRQWNP"UL" [ZN" c\UR]UL^" UL]\M[PWK" [ZN" XPSTNMM" ]NMU^LNPHM" VN[ZS]SRS^WK" QL]" MS" YSP[Z+" <W"QMXUPQ[USL" ZQM" [Z\M" cNNL" [S" XPS]\TN" bLSaRN]^N" [ZQ[" TQL" \LYSR]" [ZN" RULb" cN[aNNL"[ZNMN" ]NMU^L" YUNR]MK" QL]" [S" N`XRSPN" ZSa" bLSaRN]^N" QcS\[" [ZUM" UL[NPMNT[USL" TQL"V\[\QRRW"TSL[PUc\[N+"""2SaNONPK" #" ZQON" VQULRW" TZSMNL" LS[" [S" \MN" [ZN" [NPV" nN[ZLS^PQXZWH" aZNL"

]NMTPUcUL^"VW"SaL"UL[NPQT[USLM"aU[Z"[ZN"NVXUPUTQR"TSL[N`[+"%ZN"XPUVQPW"PNQMSL"YSP"[ZUM" UM" YS\L]" UL" [ZN" PNMNQPTZ" ScdNT[" U[MNRY+" .M" Q" VN[ZS]K" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL"TQL"cN"MQU]"[S"cN"cQMN]"\XSL"MNONPQR"VN[ZS]SRS^UTQR"TZQPQT[NPUM[UTMK"MSVN" SY" aZUTZ" TQL" cN" TQ[N^SPU_N]" QM" N[ZLS^PQXZUT" l]SUL^" ScMNPOQ[USLMK"\L]NP[QbUL^" UL[NPOUNaMK" QL]" MS" YSP[Zm+" %ZN" TSLTNX[" ZQM" [Z\M" PNXNQ[N]RW" cNNL"PNYNPPN]" [S" UL" [ZN" NVXUPUTQR" TSL[N`[M+" #L" .PbU[NVQK" [ZN" [NPVM" nNL]" \MNP"XQP[UTUXQ[USLH" QL]" nN[ZLS^PQXZWH" aNPN" MSVN[UVNM" \MN]" MWLSLWVS\MRW" lXRQLLUL^"QL]" N`NT\[UL^"XQP[UTUXQ[USL" QT[UOU[UNM"aQM" PNYNPPN]" [S"cW" MSVN"SY" [ZN" QPTZU[NT[" QM"!&',.-%$"#.'-06/#82m+"2NPNK" [ZN" [NPV" lnN[ZLS^PQXZWHm"aQM" QRMS"\MN]" [S"]NMTPUcN"[ZN"VN[ZS]M" [ZQ[" PNXPNMNL[" [ZN" XPSTNMM" ]NMU^LNPHM" XSP[YSRUS+".R[ZS\^Z" #" \MN]" [ZN"[NPV" [S" ]NMTPUcN" VW" QXXPSQTZ" UL" [ZN" cN^ULLUL^K" #" NONL[\QRRW" YS\L]" U[" NQMUNP" [S"]UYYNPNL[UQ[N"VWMNRY"QL]" [ZN"NVXUPUTQR"TSL[N`[M"cW"LS["\MUL^" [ZN" [NPV"QL]" ULM[NQ]"XRQULRW"]NMTPUcN"aZQ[" #"aQM"]SUL^+"%ZUM"TZSUTN"QRMS"VQ]N" U[" NQMUNP" YSP"VN" [S" MNN"aZQ[" "#$8% &,&" QL]" ZSa" [ZNW" \MN]" [ZN" N[ZLS^PQXZUT"VN[ZS]SRS^WK" QM" SXXSMN]" [S"aZQ["3%&,&"QL]"ZSa"#"\MN]"U[+"""".M"YSP"MSVN"SY"[ZN"S[ZNP"TSLTNX[M"SY[NL"RULbN]"[S"[ZN"[NPV"nN[ZLS^PQXZWHK"#"ZQON"

\MN]"MSVN"SY"[ZNMN"[S"TZQPQT[NPU_N"VW"QXXPSQTZ+"#"ZQON"\MN]"[ZN"[NPV"nYUNR]"aSPbH"[S" MU^LUYW" [ZN" XNPUS]" SY" [UVN" lN`[NLMUSLm" #" MXNL[" UL" [ZN" YUNR]+"'L" Q"VSPN" ^NLNPQR"RNONRK"ZSaNONPK" #"ZQON"]NMTPUcN]"VW"QT[\QR"N`TZQL^NM"aU[Z" [ZN"XPSdNT[M" PQ[ZNP"QM"nXQP[UTUXQL[" ScMNPOQ[USLH+" #L" [ZN" RU[NPQ[\PNK" [ZNMN" [aS" TSLTNX[M" lXQP[UTUXQL["ScMNPOQ[USL"QL]"YUNR]"aSPbm"QPN"SY[NL"MNNL"QM"Nh\UOQRNL["lN+^+"<WNPM"9EEAm+"#"ZQON"\MN]"[ZN"[NPV"nYUNR]H"LS["SLRW"QM"Q"XZPQMN"[ZQ["PNYNPM"[S"[ZN"NVXUPUTQR"XPSdNT[MK"c\["QRMS"QM"Q"VNQLM"[S"TZQPQT[NPU_N"QPTZU[NT[\PQR"]NMU^L"QM"Q"c\MULNMM"QPNQ+".M"YSP"[ZN"[NPV"nYUNR]"LS[NMHK" #"ZQON"QRMS" YS\L]" [ZQ[" [ZUM"ZQM" PNXPNMNL[N]" [ZN"SXNLLNMM" [ZQ[" #"aQL[N]"VW"QXXPSQTZ"[S"cN"TZQPQT[NPU_N]"cW+"2NPNK"#"ZQON"XNPTNUON]"VW"YUNR]"LS[NM"

F!""

LS[" QM" TRSMN]" QL]" TSVXRN[N]" [N`[MK" c\[" PQ[ZNP" QM" ULX\[M" [ZQ[" TQL" cN" M\cdNT[N]" [S"TSL[UL\S\M"PNQ]UL^"QL]"UL[NPXPN[Q[USL"l.R[ULMSL"N["QR+"9EE!m+"#"ZQON"^NLNPQRRW"\MN]"[ZN"[NPV"nNVXUPUTQR"VQ[NPUQRH"ULM[NQ]"SY"n]Q[QH+".^QULK"[ZUM"PNYNPM"[S"[ZN"SXNLDNL]N]"QXXPSQTZ"#"ZQON"QUVN]"[S"[QbN1"#"ZQON"LS["^Q[ZNPN]"n]Q[QH"QM"QL"NLTRSMN]"NL[U[W"SY"aZQ["ZQXXNLN]"UL"[ZN"YUNR]+"&Q[ZNPK"#"ZQON"TSL[PUc\[N]"[S"nXPS]\TUL^H"[ZN"NVXUPUTQR"VQ[NPUQR"[ZQ["QTT\V\RQ[N]K"UL"[ZN"TS\PMN"SY"[ZN"XPSdNT[+""""#"\L]NPM[QL]"[ZN"[NPV"nTSL[N`[H"SL"[aS"RNONRM+"=UPM[K"aU[Z"PNYNPNLTN"[S"[ZN"NONL[M"

QM" [ZNW" ZQXXNLN]" UL" [ZN" YUNR]1" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMg" [ZN" XPSTNMM" ]NMU^LNPMH"[PQLMRQ[USL"SY"[ZN"XPS]\TN]"VQ[NPUQRMg"[ZN"QPTZU[NT[MH"NYYSP["[S"ULOSRON"[ZN"\MNP"ULX\["UL"[ZN"XPSTNMM"SY"]NMU^LUL^"lQL]"[ZN"[PQLMRQ[USLM"[ZNPNcW"ULOSRON]mK"QL]"VQLW"S[ZNP"NONL[M+".]]N]"[S"[ZUM"TSVNM"[ZN"UVXQT["[ZQ["VW"SaL"XQP[UTUXQ[USL"ZQON"ZQ]K"aZURN"[ZN"NVXUPUTQR"VQ[NPUQR"aQM"cNUL^"XPS]\TN]+"#["UM"UL"[ZN"UL[NPUV"cN[aNNL"[ZN"[aS"[ZQ["[ZN"TSL[N`["MZS\R]"cN"\L]NPM[SS]+"%ZN"NVXUPUTQR"VQ[NPUQR"TQL"[Z\M"cN"MQU]"[S"ZQON"cNNL"TZQPQT[NPU_N]"cW"qQVcU^\U[WK"TSL[N`["]NXNL]NLTW"QL]"XPS]\T[UOU[Wr"lJvPOULNL"QL]" <UbD<NWNP" 9EEF1" !Fm+" 2NPNK" [ZN" YUL]UL^M" ZQON" cNNL" XPS]\TN]" UL" [ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"NONL[M"UL"[ZN"YUNR]g"[ZN"XRQWNPM"ULOSRON]"UL"[ZNVK"QL]"[ZN"ONZUTRNM"#"\MN]"QM"Q"PNMNQPTZNP+"""

$2%&(%4%*(!2&,%4+0#&

#"MNN"[ZN"VN[ZS]SRS^W"QM"QL"S\[RULN"SY"[ZN"XPSdNT[HM"PNMNQPTZ"]NMU^L"lN+^+"<WNPM"9EEAmK"VQ]N"\X"cW"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"PNMNQPTZ"h\NM[USLK" [ZN" [ZNSPN[UTQR"QXXPSQTZNM" #" ZQON" \MN]" [S" ]UMT\MM" [ZUM" h\NM[USLK" QL]" [ZN" VN[ZS]M" QXXRUN]" [S"\L]NP[QbN" [ZN"QT[\QR" ULh\UPW+" #L" [ZN"M[\]WK" [ZNMN"YQT[SPM"ZQON"cNNL"]NONRSXN]"QL]"M[QcURU_N]K" LS[" QM" Q" RULNQPK" c\[" PQ[ZNP" QM" Q" TUPT\RQP" XPSTNMM+" %ZNW" ZQON" V\[\QRRW"ULYSPVN]"NQTZ"S[ZNP"QL]"[ZNPNcW"]NONRSXN]+""

&45!75@597A4!VC5@=;6:!

<W"PNMNQPTZ"h\NM[USL"ZQM"MNPON]"QM"Q"XSUL["SY"PNYNPNLTN"UL"PN^QP]M"[S"[ZN"UMM\NM"#" ZQON" QUVN]" [S" N`XRSPN" UL" [ZN" M[\]W+" %ZN" h\NM[USL" ZQM" M[QcURU_N]" [ZN" ScdNT[" SY"QLQRWMUMK"QL]"PNXPNMNL[N]"[ZN"TSPNK"[S"aZUTZ"[ZN"QTT\V\RQ[N]"VQ[NPUQR"ZQM"PNYNPPN]+"

F9""

.RMSK" U[" ZQM" ]NONRSXN]" QL]" [ZNPNcW" MRU^Z[RW" TZQL^N]" SONP" [UVN" ]\PUL^" VW"NL^Q^NVNL[" aU[Z" [ZN" [aS" XPSdNT[M" lN+^+" 3PUbMMSL" QL]" /SOQRQULNL" 9EE,m+" .M" [ZN"XPSdNT[M"]NONRSXN]K"VW"PNMNQPTZ"UL[NPNM[M"^PQ]\QRRW"U]NL[UYUN]K"QL]"[ZN"h\NM[USLM"[S"QTTSVVS]Q[N"[ZSMN"UL[NPNM[M"^PQ]\QRRW"M[QcURU_N]+""".M"#"ZQON"S\[RULN]"UL"*ZQX[NP"!K"VW"QMXUPQ[USL"UL"[ZN"M[\]W"ZQM"cNNL"[S"N`XRSPN"

[ZN" RULb" cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" QL]" [Z\M"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L+"%ZN"aQW"#"ZQON"M[\]UN]"[ZUM"UM"cW"RSSbUL^"Q["ZSa"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"ZQM"cNNL"QXXRUN]" UL" [ZNMN"]NMU^L"TSL[N`[M+" 2NPNK" #" aQL[N]" [S" N`XRSPN" ZSa" [ZNMN" XPSTNMMNM" MNNV" [S" V\[\QRRW"ULYR\NLTN"QL]"[ZNPNcW"TSLM[U[\[N"NQTZ"S[ZNPK"UL"[ZN"TS\PMN"SY"[ZNUP"N`TZQL^NM+"%ZN"XQP[UTUXQ[USL" QT[UOU[UNM" QPN" XPQT[UTQR" UL" [ZN" MNLMN" [ZQ[" [ZNW" XPS]\TN" TSLTPN[N"VQ[NPUQR+" #" ZQON" [Z\M" MNNL" [ZN" XQP[UTUXQ[USL" QM" Q" aQW" [S" XPS]\TN" aZQ[" #" ZQON"TZQPQT[NPU_N]"QM"nTSLLNT[USLMH"cN[aNNL"[ZNMN"[aS"]NMU^L"XPSTNMMNM+"'L"[ZQ["cQMUMK"VW"PNMNQPTZ"h\NM[USL"ZQM"cNNL1"""*LM' NLOP' LJIHQGRON' OQN' SPOJ' THJUGVGTHUGLQ' GQ' HJVWGUOVUSJHX' NOPGIQ'

TJLVOPPOP' IOQOJHUO' YVLQQOVUGLQPZ' [OUMOOQ' LJIHQGRHUGLQHX' HQN' HJVWGUOVUSJHX'NOPGIQ\'""%ZN"h\NM[USL"XSUL[M" [SaQP]" [ZN"M[\]WHM"SONPQRR" YST\M"SL"XPSTNMM+" #[" UM"Q" nZSaD

h\NM[USLH"[ZQ["M\^^NM[M"Q"nTUPT\RQPH"[S\TZ1"#["^NLNPQ[NM"ULX\["[ZQ["NVNP^NM"QTTSP]UL^"[S" [ZN" TSL[UL\S\M" ]NONRSXVNL[M" [ZQ[" [QbN" XRQTN" UL" [ZN" XPSdNT[M+" .R[ZS\^Z" [ZN"h\NM[USL" VU^Z[" cN" TZQPQT[NPU_N]" QM" TSLTPN[N" UL" [ZN" MNLMN" [ZQ[" U[" PNYNPM" [S" QT[\QR"QT[UOU[UNMK" U[" UM" M[URR" PQ[ZNP" ^NLNPQR+" #[" ZQM" [Z\M" QTT\V\RQ[N]" MNONPQR" M\cDPNMNQPTZDh\NM[USLMK" VSPN" TRSMNRW" TSLLNT[N]" [S" [ZN" NONL[M" [ZQ[" ZQON" [QbNL" XRQTN" UL" [ZN"NVXUPUTQR"M[\]UNM+""

&45!P5=46M@!

%ZN"VN[ZS]M" #" ZQON" QXXRUN]" UL" SP]NP" [S"^QUL" QTTNMM" [S" [ZN" NONL[M" UL" [ZN" YUNR]"VU^Z[" cN" TZQPQT[NPU_N]" QM" cNUL^" N[ZLS^PQXZUT" QL]" cQMN]" SL" Q" TSLM[P\T[USLUM["XNPMXNT[UON+"#L"[NPVM"SY"XQP[UTUXQL["ScMNPOQ[USLK"[ZUM"VN[ZS]"ZQM"YSPVN]"Q"^NLNPQR"PNMNQPTZ" MN[[UL^K" YPSV"aZUTZ" [ZN" YST\M" SY" [ZN" M[\]W"ZQM" NVNP^N]" lN+^+" 6URONPVQL"!AACm+"2NPNK"#"ZQON"XQP[UT\RQPRW"YST\MN]"SL"[ZN"]UYYNPNL["OUNaXSUL[M"Q["M[QbN"UL"[ZN"UL[NPQT[USL"cN[aNNL"[ZN"ULOSRON]"XRQWNPM"lN+^+"JvPOULNL"QL]"<UbD<NWNP"9EEFm+".M"

FC""

YSP" [ZN" UL[NPOUNaMK" [ZN" TSLTNX[" SY" QT[UON" UL[NPOUNaUL^" ZQM" cNNL" TNL[PQR" lN+^+"2SRM[NUL"QL]"0\cPU\V"9EE;mK"UL"aZUTZ"[ZN"VQ[NPUQR"XPS]\TN]"UM"cQMN]"SL"[ZN"QT[\QR"UL[NPOUNa" MU[\Q[USL" QL]" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZN" XRQWNPM" ULOSRON]+" " =ULQRRWK"aU[Z"PN^QP]M"[S"[ZN"]ST\VNL["VQ[NPUQRK"#"ZQON"XQP[UT\RQPRW"YST\MN]"SL"[ZNMNK"LS["QM"cNUL^"qYU`Q[N]r" UL" [ZN" MNLMN" [ZQ[" [ZNUP"VNQLUL^" UM"]N[NPVULN]"QL]" UL[N^PQ[N]K"c\["PQ[ZNP"QM"cNUL^"qMU[\Q[N]r"UL"[ZN"MNLMN"[ZQ["[ZNW"MZS\R]"cN"PNQ]"[ZPS\^Z"[ZN"TSL[N`[K"UL" aZUTZ" [ZNW" QXXNQP" lN+^+" 4PUSPM" 9EECm+" %ZN" ]ST\VNL[M" QPN" [Z\M" XNPTNUON]" QM"XPS]\T[UON+"""

&45!=45675=;A9>!A6:A5?=@!

*SLMU]NPUL^" [ZN" [ZNSPN[UTQR" TSLTNX[M" [ZQ[" XPUVQPURW" ZQON" ULMXUPN]" [ZN" [ZNMUMK"n6NLMNVQbUL^"UL"SP^QLU_Q[USLMH"QL]"n.T[SPDLN[aSPb"[ZNSPWHK"[ZNMN"PNXPNMNL["PQ[ZNP"]UYYNPNL["QXXPSQTZNM"[S"\L]NPM[QL]UL^"MSTUQR"PNQRU[W+"6NLMNVQbUL^"UM"Q"TS^LU[UONRW"cQMN]"QXXPSQTZK"UL"aZUTZ"XNSXRN"QL]"[ZNUP"XNPTNX[USLM"SY"[ZN"aSPR]"YSPV"Q"TNL[PQR"XSUL[" SY" ]NXQP[\PN+" .T[SPDLN[aSPb" [ZNSPWK" SL" [ZN" S[ZNP" ZQL]K" YST\MNM" SL" ZSa"LN[aSPbM"SY"QT[SPM"NM[QcRUMZ"QL]"[ZNPNcW"^QUL"M[PNL^[Z"QL]"QcURU[W"[S"QT[+"2NPNK"[ZN"VQ[NPUQR" TSVXSLNL[M" UL" [ZNMN" QMMSTUQ[USLM" QPN" d\M[" QM" ULYR\NL[UQR" QM" [ZN" Z\VQLM+"7ZQ["[ZN"[aS"[ZNSPN[UTQR"TSLTNX[M"ZQON"UL"TSVVSLK"ZSaNONPK"UM"[ZQ["[ZNW"YST\M"SL"NONL[M" UL" MSTUQR" TSL[N`[M" QM" cNUL^" q\LUh\N" QL]" [PQLMU[SPWr" l=PNNMN" !A,E1" 9,K" UL"7NUTb" !AAF1" !E?m+" 2NPNK" UL[NPQT[USLM" cN[aNNL" QT[SPM" QPN" MNNL" QM" V\[\QRRW"ULYR\NL[UQR" QL]" TSL[UL\S\M+"%ZNW"ZQON" LS" TRNQP" cN^ULLUL^"SP" NL]K" c\[" PQ[ZNP" [QbN"XRQTN"UL"[ZN"VU]]RNK"QM"XQP["SY"QL"UL[NPMNT[USL"lN+^+"7NUTb"9EE;m+"""%ZN" [aS" QXXPSQTZNM" ZQON" TSL[PUc\[N]" UL" h\U[N" ]UYYNPNL[" aQWMK" UL" QTTSP]QLTN"

aU[Z" [ZNUP" TSLTNX[\QR" TSLM[U[\[USLM+".M"VNL[USLN]" QcSONK" MNLMNVQbUL^" XPSTNMMNM"QPN" TSVXRN`" TS^LU[UON" NL]NQOSPM+" %ZNMN" TSLTNX[M" ZQON" ZNRXN]" VN" ]UMTRSMN" [ZN"N`[NLMUON" TSVV\LUTQ[USLQR" TZQRRNL^NM" [ZQ[" XNSXRN" ULOSRON]" UL" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM" aNPN" M\cdNT[N]" [SK" UL" [ZNUP" NYYSP[M" [S" NL^Q^N+" 2SaNONPK" [ZN" NVXUPUTQR"XPSdNT[M"aNPN"cS[Z"M\cM[QL[UQRRW"VQ[NPUQR"UL"[ZN"MNLMN"[ZQ["VQ[NPUQR"YQT[SPM"M\TZ"QM"MbN[TZNMK" ]ST\VNL[MK"VS]NRMK" QL]"VSPNK" XRQWN]" QL" UVXSP[QL[" PSRN" QM" [S" ZSa" [ZN"]NMU^LM" NOSRON]+" 2NPNK" QT[SPDLN[aSPb" [ZNSPW" PNXPNMNL[N]" Q" aQW" [S" ^UON" [ZUM"VQ[NPUQR" QMXNT[" Q" M\cM[QL[UQR" OSUTN+" %ZPS\^Z" TNP[QUL" .$%DTSLTNX[MK" U[" cNTQVN"XSMMUcRN"YSP"VN"[S"N`XRSPN"[ZN"PNRQ[USLMZUX"cN[aNNL"VQ[NPUQR"YQT[SPMK"TSLONPMQ[USLM"QL]"XNSXRNK"QL]"[Z\M"]UMT\MM"[ZN"aQW"[ZNW"UVXSMN]"\XSL"NQTZ"S[ZNPK"UL"[ZN"TS\PMN"SY" [ZNUP" UL[NPQT[USL+" -\[" cNTQ\MN" SY" [ZN" cQMUT" SL[SRS^UTQR" ]UYYNPNLTN" cN[aNNL" [ZN"

F;""

[aS" QXXPSQTZNMK" #" ZQON" MNXQPQ[N]" [ZN" QLQRWMNM" UL" [ZN" [ZNMUM" MZQPXRW+" %ZN" [aS"NVXUPUTQR" XPSdNT[M" NQTZ" PNXPNMNL[" SLN" TZQX[NP" lTZQX[NPM" F" QL]" Bm" [ZQ[" NQTZ" ZSR]M"[aS"QLQRW[UTQR"MNT[USLM1"SLN"[ZQ["PNYNPM"[S"[ZN"MNLMNVQbUL^"RU[NPQ[\PN"QL]"SLN"cQMN]"SL"QT[SPDLN[aSPb"[ZNSPW+"""

K5=46M!A6PR;:9=;6:!!

-NYSPN"#"[\PL"[S"NQTZ"SY"[ZN"[ZPNN"VN[ZS]M"UL"VSPN"]N[QURK"#"aURR"XPSOU]N"Q"cPUNY"S\[RULN" SY" [ZN"aQW" [ZNW" UL[NPPNRQ[N" UL" [ZN" M[\]W+"<W" X\PXSMN" SY" TSVcULUL^" [ZPNN"VN[ZS]M" ZQM" cNNL" [ZQ[" [ZN" ]UYYNPNL[" VN[ZS]M" ZSR]" ]UYYNPNL[" h\QRU[UNM" [ZQ[K" UL"]UYYNPNL["aQWMK" TQL" ULMXUPN" QL]"\LYSR]" [ZN"VQ[NPUQR" l6URONPVQL"!AACK"<UbD<NWNP"9EEA"YSP[ZTSVUL^m+"#L"SP]NP"[S"cN"QcRN"[S"N`XRSPN"ZSa"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["ZQON"XPS]\TN]"nTSLLNT[USLMH"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNMK"#"ZQON" RSSbN]" YSP" QXXPSQTZNM" [ZQ[" TS\R]"ZNRX"VN"NVcPQTN"cS[Z" YUNR]M" QL]"\LTSONP"[ZN"UL[NPMNT[USL"cN[aNNL"[ZNV"l<URRNP"QL]"=S`"9EE;m+"#L"SP]NP"[S"UL[NPQT["aU[Z"QL]"[ZNPNcW"UL[NPPS^Q[N"[ZN"NVXUPUTQR"VQ[NPUQRK"#"ZQON"[Z\M"TSVcULN]"[ZN"[ZPNN"VN[ZS]M+"%ZUM"QXXPSQTZ"ZQM"XPSOU]N]"VN"aU[Z"Q"TSVXRN`"QL]"QVcU^\S\M"VQ[NPUQRK"^NLNPQ[N]"UL"Q" PNTUXPSTQR"XPSTNMM"cN[aNNL"VWMNRY"QM"Q" PNMNQPTZNP"QL]" [ZN" PNMNQPTZ"ScdNT[M" #"ZQON"cNNL"NL^Q^N]"aU[Z+"-QMN]"SL"[ZNMN"VN[ZS]MK"[ZN"XZNLSVNLQ"Q]]PNMMN]"UL"[ZN"M[\]W"ZQON"cNNL"U]NL[UYUN]"QL]"N`XRSPN]+"""%ZN"aQW"SY"QXXRWUL^"[ZN"VN[ZS]M"QL]"NL^Q^UL^"aU[Z"[ZN"YUNR]"VU^Z["cN"MQU]"[S"

ZQON"]UYYNPN]"YPSV"[ZQ["SY"VN[ZS]"[PUQL^\RQ[USL+"%PUQL^\RQ[USL"QRMS"YST\MNM"SL"[ZN"\MN" SY" ]UYYNPNL[" VN[ZS]M" lN+^+" 6URONPVQL" !AACK" 3M[NPcNP^" 9EE9K" 3PUbMMSL" QL]"/SOQRQULNL"9EE,mK"c\["U["ZSR]M"[ZN"XPUVQPW"YST\M"SL"MNT\PUL^"PNMNQPTZ"OQRU]U[W+".M"MNONPQR" MTZSRQPM" [Z\M"ZQON"XSUL[N]"S\[K" [PUQL^\RQ[USL"SY[NL" RSSbM" Q[" [ZN" QLQRW[UTQR"ScdNT["QM"PNYNPPUL^"[S"qSLN"NVXUPUTQR"PNQRU[Wr"l<URRNP"QL]"=S`"9EE;1"CF"PNYNPPUL^"[S"(NL_UL" !A?,mK" Q" XSUL[" QRMS" VQ]N" cW" 6URONPVQL" l!AACm" QL]" <UbD<NWNP" l9EEA"YSP[ZTSVUL^m+"#L"M\TZ"Q"XNPMXNT[UONK" [ZN"XZNLSVNLSL"UM"N`XRSPN]"UL"U[M"nNL[UPN[WHK"MNQPTZUL^"YSP" [ZN" [P\[Z"QcS\[" [ZUM"XQP[UT\RQP"NONL["SP"ScdNT[+"%ZN"aQW"#"ZQON"\MN]"[ZN"TSVcULQ[USL"SY"VN[ZS]M"UM"PQ[ZNP"QM"Q"VNQLM"SY" U]NL[UYWUL^"QL]"N`XRSPUL^"[ZN"QLQRW[UTQR" ScdNT[+" #L" [ZUM" TSL[N`[K" OQRU]U[W" ZQM" LS[" PN^QP]N]" Q" MNQPTZ" YSP" [ZN" [P\[Z"QcS\[" [ZN" VQ[[NPM" Q[" M[QbNK" c\[" PQ[ZNP" [S" MNNb" YUL]UL^M" [ZQ[" VQW" cN" TSLMU]NPN]"[P\M[aSP[ZWK"UL[NPNM[UL^"QL]"TSLMUM[NL["lUcU]+m+""

FF""

$:!5W9P?>5!G76P!=45!G;5>M!

#"aS\R]" RUbN" [S" cPUNYRW" URR\M[PQ[N" QL" N`QVXRN" SY" [ZN" UL[NPTZQL^NM" cN[aNNL" [ZN"PNMNQPTZ"h\NM[USLK"Q]dQTNL["M\cDh\NM[USLMK"VN[ZS]MK"QL]"[ZNSPN[UTQR"TSLTNX[MK"QM"U["ZQXXNLN]"UL"VW"M[\]W"SY"[ZN"%SaL"2QRR"XPSdNT["lTY+"*ZQX[NP"Fm+""".M"VNL[USLN]"QcSONK"VW"cQMUT"PNMNQPTZ"h\NM[USL"ZNR]"Q"TSVXRN`U[W"[ZQ["VQ]N"U["

LNTNMMQPW"YSP"VN"[S"YSPV"M\cDPNMNQPTZ"h\NM[USLM"UL"SP]NP"[S"^N["TRSMNP"[S"[ZN"NONL[M"[ZQ[" [SSb" XRQTN" UL" [ZN" NVXUPUTQR" XPSdNT[M+" 2NPNK" [ZN" cQMUT" h\NM[USL1" 2Sa" ]SNM"SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" UL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" ^NLNPQ[N"nTSLLNT[USLMH"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^LoK"TQ[QRW_N]"Q]dQTNL["M\cDh\NM[USLM"RUbN1"n2Sa"]U]"[ZN"TSLONPMQ[USLM"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QYYNT["[ZN"aQW"[ZQ["[ZN"M[QYY"PNYNPPN]"[S"[ZNUP"XPQT[UTNoHK"SP1"n2Sa"aQM"[ZN"S\[TSVN"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"[PQLMYSPVN]"UL[S"Q"YSPVQ["[ZQ["TS\R]"MNPON"QM"QL"ULX\["[S"[ZN"QPTZU[NT[M"UL"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMoH+"%ZNMN"ZNRXN]"VN"PNVUL]"VWMNRY"SY"[ZN"YST\M"cW"\LYSR]UL^"MSVN"SY"U[M"TSVXRN`U[W+"""#L" [NPVM"SY"MNQPTZUL^"YSP"PNMXSLMN"[S"M\TZ"TSVXRN`"h\NM[USLM"UL" [ZN"NVXUPUTQR"

TSL[N`[K"#"YSPVN]"VSPN"TSLTPN[NK"NVXUPUTQR"h\NM[USLM"UL"[ZN"UL[NPOUNa"^\U]NM+"2NPNK"#"YST\MN]"SL"UMM\NM"M\TZ"QM"ZSa"[ZN"]QURW"XPQT[UTN"aS\R]"TZQL^N"QM"Q"PNM\R["SY"[ZN"LNa" [SaL"ZQRR"QL]"ZSa" [ZN"M[QYY"ZQ]"N`XNPUNLTN]" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"<W"UL[NPOUNaM"ZNR]"Q"MNVUDM[P\T[\PN]"YSPVQ[K"aZUTZ"VQ]N"U["XSMMUcRN"YSP"VN"[S"X\PM\N"]UYYNPNL[" RNQ]M" [ZQ[" STT\PPN]" UL" [ZN" TSLTPN[N" UL[NPOUNa" MU[\Q[USL+" #L" [ZN" XQP[UT\RQP"UL[NPOUNa" MU[\Q[USL" ]NMTPUcN]" cNRSaK" UL" aZUTZ" #" NL^Q^N]" aU[Z" [ZN" ]NXQP[VNL["VQLQ^NP" SY" [ZN"!D,",B$.% E$0;,1$% D$."$02" UL" [ZN"V\LUTUXQRU[W" Q]VULUM[PQ[USLK" [ZN"UL[NPOUNaNN"M[QP[N]"S\["cW"[NRRUL^"VN"QcS\["ZSa"[ZN"TNL[NP"ZQ]"^PSaL"QM"Q"PNM\R["SY"[ZN" VNP^NP" cN[aNNL" [ZN" [aS" V\LUTUXQR" Q]VULUM[PQ[USLM+" 'L" [ZQ[" cQMUMK" #" QMbN]1"n7ZQ["]SNM"M\TZ"QL"NLRQP^NVNL["VNQL"[S"[ZN"]QURW"XPQT[UTNoH"%S"[ZUM"h\NM[USL"[ZN"]NXQP[VNL["VQLQ^NP"PNXRUN]"[ZQ["""!3"%7$6.+% "#6"%:$4;$%-'""$.%6%7(1#% *60-$0%;,+,),*,"8% ,.% "#$%6&7,.,+"06",'.9%6+%

:$%.':%,."$0@61$%:,"#%7'0$%'0% *$++%6**% "#$%&$/60"7$."+A%E'% ,"%#6+%7$6."% "#6"% "#$%+"6@@% #6&% "'% )$1'7$% 7'0$% )0'6&*8% ,.@'07$&% =6)'("% "#$% :'05% -',.-% '.% ,.% "#$%6&7,.,+"06",'.9%:,"#%0$-60&+%"'%"#$%1*,$."?2A"""

FB""

.M" U[" [\PLN]" S\[K" [ZUM" NLRQP^N]" !;,+,),*,"82K" ]\N" [S" [ZN" NLRQP^NVNL[" SY" [ZN"]NXQP[VNL[" QRMS" ULTR\]N]" QL" N`XNT[Q[USL" YSP" [ZN" Q]VULUM[PQ[USL" !"'% +,-.,@8%'/$..$++2" QL]" !6% +$.+$% '@% 1'77(.,"82" [SaQP]M" [ZN" TRUNL[MK" QTTSP]UL^" [S" [ZN"]NXQP[VNL["VQLQ^NP+"-QMN]"SL"[ZUM"XUNTN"SY"ULYSPVQ[USLK"#"RN["Q"M\cM[QL[UQR"XQP["SY"[ZN" PNVQULUL^" UL[NPOUNa" PNOSRON" QPS\L]" [ZUM" UMM\N1" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZN"]NXQP[VNL[HM"QcURU[W"[S"\XZSR]"Q"ZU^Z"]N^PNN"SY"!;,+,),*,"82"QL]"!'/$..$++2K"SL"[ZN"SLN"ZQL]K"QL]"[ZN"MXQ[UQR"YNQ[\PNM"[ZQ["MZS\R]"QTTSVVS]Q[N"[ZUM"aSPbK"SL"[ZN"S[ZNP+"(\PUL^" [ZN" TSLONPMQ[USLK" U[" TQVN" YSP[Z" [ZQ[" [ZN" ]NXQP[VNL[" VQLQ^NP" ZQ]" cNNL"^PNQ[RW" ULOSRON]" UL" Q" LN^S[UQ[USL" cN[aNNL" TRUNL[K" QPTZU[NT[" QL]" XPSTNMM" ]NMU^LNPK"aU[Z" PN^QP]M" [S" [ZN" MZQXN" SY" [ZN" [SaL"ZQRRHM" NL[PQLTN" TS\L[NP1" Q" TNL[PQR" XUNTN" SY"Y\PLU[\PN" UL" ZNP" \LU[+" 2NPNK" [ZN" MZQXN" SY" [ZN" NL[PQLTN" TS\L[NP" ^S[" M\cM[QL[UQRRW"VS]UYUN]" [ZPS\^Z"Q"TSVXRN`"XPSTNMM"SY"LN^S[UQ[USL1" YPSV"Q"MZQXN" [ZN"]NXQP[VNL["VQLQ^NP"TSLMU]NPN]"n[SS"TRSMN]H"[S"SLN"MZN"PN^QP]N]"QM"Q]Nh\Q[NRW"nSXNLH+""%ZUM" NVXUPUTQR" N`XNPUNLTN" VQ]N" VN" YST\M" VSPN" TRSMNRW" SL" [ZN" TSLTNX[" SY"

!'/$..$++2"QL]"QRMS"VSPN"^NLNPQRRW"SL"[ZN"LS[USL"SY"nSXNLH+"#"cN^QL"[S"TSLMU]NP"[ZUM" Q" PNM\R[" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" aU[Z" UVXRUTQ[USLMK" LS[" SLRW" SL" QL"SP^QLU_Q[USLQR"RNONR"l[ZQ["[ZN"SP^QLU_Q[USL"aQL[N]"!"'%+,-.,@8%'/$..$++2mK"c\["QRMS"UL"PN^QP]M"[S"[ZN"NVNP^UL^"QPTZU[NT[\PQR"]NMU^L+"-QMN]"SL"[ZUM"#"YSPV\RQ[N]"Q"LNa"M\cDPNMNQPTZDh\NM[USL1" n2Sa" ]U]" [ZN" TSLTNX[" SY" nSXNLH" QXXNQP" aU[ZUL" [ZN"YPQVNaSPb"SY"[ZN"XPSdNT[oH"""#" MNQPTZN]" [ZN"]ST\VNL["VQ[NPUQR" #"ZQ]"QTT\V\RQ[N]" [ZPS\^ZS\[" [ZN"XPSdNT[1" #"

RSSbN]"YSP"ZSa"XZPQMNM"RUbN%!'/$.2K"!'/$..$++29"!&,6*'-($2"SP"S[ZNPK"QXXNQPN]"UL"[ZN"SYYUTUQR"[N`[M"QL]"XPNMNL[Q[USLM"ULOSRON]"UL"[ZN"XPSdNT[+".M"YSP"[ZN"UL[NPOUNaMK"#"ULTR\]N]" h\NM[USLM" QcS\[" [ZN" NL[PQLTN" TS\L[NP" ULM[QLTN" UL" M\cMNh\NL[" UL[NPOUNaMK"QL]"QRMS" MNQPTZN]" YSP" MUVURQP"XZPQMNM" lnSXNLHK" nSXNLLNMMHK" nNL[PQLTN"TS\L[NPH" QL]"VSPNm" UL"QRPNQ]W"TSL]\T[N]" UL[NPOUNaM+"=ULQRRWK" UL" [ZN"QLQRWMUM" lTY+" MNT[USL"F*mK" #"QXXRUN]"QT[SPDLN[aSPb"[ZNSPW"QM"Q"VNQLM"[S"]UMT\MM"ZSa"[ZN"QT[SPM"ULOSRON]"UL"[ZN"XPSTNMM1"XNSXRNK" ]PQaUL^MK"]UQ^PQVMK"]ST\VNL[MK" QL]"VSPNK" MNNVN]" [S" ULYR\NLTNK"ULYSPV"QL]"YSPV"NQTZ"S[ZNP"QM"Q"PNM\R["SY"[ZNUP"N`TZQL^NM+"#L"[ZUM"aQW"aN"VU^Z["MQW"[ZQ[" [ZPS\^Z" VW" N`TZQL^NM" aU[Z" [ZN" YUNR]" QL]" VW" M\cMNh\NL[" ZQL]RUL^" SY" [ZN"NVXUPUTQR" VQ[NPUQRK" TNP[QUL" M[SPUNM" aNPN" nXPS]\TN]H" [ZQ[" ^QON" aQW" [S" LNa"\L]NPM[QL]UL^M"SY"MSVN"SY"[ZN"XZNLSVNLQ"Q["M[QbN"UL"[ZN"M[\]W+""""

F?""

#["UM"UVXSP[QL["[S"LS[N"[ZQ["VQLW"]UYYNPNL["QL^RNM"TS\R]"ZQON"cNNL"X\PM\N]"UL"[ZN"XPSdNT[+"#Y"VW"YST\M"ZQ]"cNNL"]UYYNPNL["QL]"#"ZQ]"\MN]"S[ZNP"[ZNSPN[UTQR"QXXPSQTZNMK"S[ZNP" QT[SPM" ZQ]" TSVN" TRSMNP" [S" SP" Y\P[ZNP" QaQW" YPSV" VW" N`XRSPQ[USL+" 2NPNcWK"]UYYNPNL[" YUL]UL^M" VQW" ZQON" STT\PPN]" lGQL" <QQLNL" !A,,m+" #" ZQON" M[\]UN]"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL" UL" QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM" UL" [aS" MXNTUYUT"NVXUPUTQR"TQMNM+"#Y"MUVURQP"XPSTNMMNM"[SSb"XRQTN"UL"Q"]UYYNPNL["NVXUPUTQR"TSL[N`[K"[ZN"S\[TSVN"VU^Z["ZQON"]UYYNPN]+"2SaNONPK"ZQOUL^"M[\]UN]"Q"XPSYNMMUSL"[ZQ[" UM"cQMN]"SL" M\TZ" M[PSL^" [PQ]U[USLM"QM" [ZN"QPTZU[NT["XPSYNMMUSLK" PNM\R[M" YPSV"S[ZNP"NVXUPUTQR"TQMNM"c\["aU[ZUL"[ZN"MQVN"LQ[USLQR"TSL[N`[K"VU^Z["cN"N`XNT[N]"[S"TSVN"S\["MUVURQP+""""

*''("*!2+#0&$2%&)+%3,&

4PUSP"[S"[ZN"NM[QcRUMZVNL["SY"[ZN"XPSdNT[K"#"]U]"Q"^NLNPQR"MNQPTZ"UL[S"[ZN"U]NQ"SY"QL" ULTPNQMN]" YST\M" SL" MXQTN" UL" SP^QLU_Q[USLQR" ]NONRSXVNL[K" aU[ZUL" Q" (QLUMZ"TSL[N`[+" <W" QMXUPQ[USL" aQM" XQP[RW" [S" U]NL[UYW" [ZN" QPTZU[NT[\PQR" YUPVM" [ZQ[" aNPN"YST\MN]" SL" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" QL" UL[N^PQ[N]" XQP[" SY" [ZN"QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" .RMSK" #" RSSbN]" YSP" SP^QLU_Q[USLM" aU[Z" Q" XQP[UT\RQP"YST\M"SL"[ZN"SP^QLU_Q[USLHM"MXQ[UQR"M[P\T[\PNg"YSP"N`QVXRN"XPSdNT[M"[ZQ["ULOSRON]"[ZN"NM[QcRUMZVNL[" SY" Q" LNa" c\UR]UL^" SP" [ZN" PNY\PcUMZD" QL]" PNY\PLUMZUL^" SY" N`UM[UL^"XPNVUMNM+"-QMN]"SL"[ZUM"MNQPTZK"#"TSL[QT[N]"QL]"VN["aU[Z"Q"L\VcNP"SY"XNSXRN"QL]"SP^QLU_Q[USLM+"""#"ZQ]"Q"XQP[UT\RQP"UL[NPNM["UL"[ZN"%SaL"2QRR"XPSdNT[K"cQMN]"SL"[ZUM"V\LUTUXQRU[W"

Q]VULUM[PQ[USLHM" [PQ]U[USL" YSP" Q" TNP[QUL" YST\M" SL" [ZN" XZWMUTQR" NLOUPSLVNL[+"2NPNK"2URRNPe]HM"<("ZQ]"QL"UL[NPNM["UL"ULOSROUL^"[ZN"SP^QLU_Q[USL"TRSMNRW"UL"[ZN"c\UR]UL^"XPSdNT[K"XQP[RW"]\N"[S"[ZN"YSP[ZTSVUL^"VNP^NP"cN[aNNL"[ZN"Q]VULUM[PQ[USL"U[MNRY"QL]"[ZN"Q]dQTNL["V\LUTUXQR"\LU[K"6biOUL^N+".RMSK" U[" TQVN" YSP[Z" [ZQ["6U^LQR".PbU[Nb[NP"aS\R]" cN" ULOSRON]" QM" [ZN" XPSTNMM" ]NMU^LNP" UL" [ZN" XPSdNT[+" #" S\[RULN]"VW" ^NLNPQR"UL[NPNM[" UL" [ZN" LS[USL" SY" Q" TRSMNP" RULb" cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"[S"PNXPNMNL[Q[UONM"YPSV"[ZN"V\LUTUXQRU[W"Q]VULUM[PQ[USL"QM"aNRR"QM"[S"6U^LQR".PbU[Nb[NP+"4QPQRRNR"[S"[ZUM"]NONRSXVNL[K"#"TSL[QT[N]".PbU[NVQK"Q"YUPV"[ZQ["ZQ]"MZSaL"Q"M\cM[QL[UQR" UL[NPNM[" UL"NL]"\MNP"XQP[UTUXQ[USL"QM"QL" UL[N^PQ[N]"XQP["SY"[ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" #" aQM" ULYSPVN]" QcS\[" [ZN" \XTSVUL^" <UbQ]S"

F,""

2S\MN"XPSdNT[K" QL]"aQM" MZSP[RW"QY[NP" ULOU[N]" [S" M[\]W" [ZN"XPSdNT[" QM" Q" TQMN" UL"VW"4Z(" XPSdNT[+" .PbU[NVQHM" UL[NPNM[" aQM" QXXQPNL[1" [ZN" YUPV" QUVN]" [S" N`XRSPN" [ZN"XS[NL[UQRU[W" SY" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" Q" VNQLM" [S" ]NMU^LUL^"QPTZU[NT[\PN+"2NPNK"[ZN"<UbQ]S"2S\MN"XPSdNT["MNPON]"QM"[ZN"TSL[N`[K"[ZPS\^Z"aZUTZ"M\TZ"QL"N`XRSPQ[USL"TS\R]"NOSRON+""2URRNPe]"<\LUTUXQRU[WK"6U^LQR".PbU[Nb[NP"QL]".PbU[NVQ"ZQON" QRR" M\XXSP[N]"VW"

M[\]W"YULQLTUQRRW+"#"cPS\^Z["[ZN"UMM\N"SY"YULQLTUQR"M\XXSP["YSP[Z"QRPNQ]W"UL"VW"ULU[UQR"N`TZQL^NM"aU[Z"[ZN"SP^QLU_Q[USLM+"%ZN"X\PXSMN"aQM"LS["SLRW"UL"PN^QP]M"[S"MNT\PUL^"[ZN" SXXSP[\LU[W" [S" \L]NP[QbN" [ZN" M[\]W" QM" M\TZ+"<SPN" UVXSP[QL[RWK" #" [ZS\^Z[" [ZQ["YULQLTUQR"TSVVU[VNL["aS\R]"M[PNL^[ZNL"VW"SXXSP[\LU[W"[S"^N["QTTNMM"[S"[ZN"YUNR]M"QL]"[S"YSPV"Q"YUPV"QYYURUQ[USL"cN[aNNL"VWMNRY"QM"Q"PNMNQPTZNP"QL]"[ZNMN"NVXUPUTQR"TSL[N`[M+".M"U["[\PLN]"S\[K"[ZN"XPSdNT[M"YNRR"UL[S"XRQTNK"YULQLTUQRRWK"]\PUL^"[ZN"MQVN"XNPUS]+" .R[ZS\^Z" YQMTULQ[N]" cW" cS[Z" XPSdNT[M" aU[Z" PN^QP]M" [S" VW" cQMUT" PNMNQPTZ"UL[NPNM[MK" #" QRMS" PNQRU_N]" [ZQ[" [aS" XPSdNT[M" SY" M\TZ" VQ^LU[\]N" QL]" aU[Z" M\TZ"M\cM[QL[UQR"M[P\T[\PQR"]UYYNPNLTNM"aNPN"Q"cU["SY"Q"VS\[ZY\R"aU[ZUL"[ZN"YPQVNaSPb"SY"Q"4Z("XPSdNT[+"-\["#"]NTU]N]"[S"XPSTNN]"aU[Z"[ZN"MN[\X"cQMN]"SL"[ZN"QP^\VNL["[ZQ["cS[Z"XPSdNT[M"]NRUONPN]" MU^LUYUTQL[" ULX\[" [S" [ZN" MTSXN"SY"XS[NL[UQR" UMM\NM" [ZQ["aQM"ULTR\]N]" UL" VW" ULU[UQR" PNMNQPTZ" UL[NPNM[+" .RMSK" #" TSLMU]NPN]" [ZNUP" ]UYYNPNLTNM" [S"XS[NL[UQRRW"TSL[PUc\[N"[S"[ZN"\L]NPM[QL]UL^"SY"cS[Z+"""7ZNL"#"YUPM["QXXPSQTZN]"[ZN"YUNR]K"#"aQM"LS["NL[UPNRW"TRNQP"SY"aZQ["[ZN"YST\M"SY"

VW" ULh\UPW" aS\R]" cN+" #" bLNa" [ZQ[" #" aQM" UL[NPNM[N]" UL" [ZN" PNRQ[USLMZUX" cN[aNNL"QPTZU[NT[\PQR"]NMU^L"QL]"SP^QLU_Q[USLQR"XPQT[UTNK"QL]"[ZQ["[ZN"ULTPNQMUL^"UL[NPNM["UL"NL]"\MNP"XQP[UTUXQ[USL"UL"MSTUN[W"Q["RQP^N"lULTR\]UL^"[ZN"QPNQ"SY"VQLQ^NVNL[mK"TS\R]"PNXPNMNL[" Q" XS[NL[UQR" aQW" UL[S" [ZUM" TSLLNT[USL+" #L" cS[Z" XPSdNT[M" #" aQM" ^UONL" [ZN"SXXSP[\LU[W"[S"NL^Q^N"UL"[ZN"YUNR]"cNYSPN"[ZN"XPSdNT["aQM"YULQLTUQRRW"MNT\PN]"QL]"#"aQM" YSPVQRRW" NLPSRRN]" UL" [ZN" 4Z(" XPS^PQV+" (\PUL^" [ZNMN" QXXPS`+" B" VSL[ZM" SY"XPNXQPQ[USLK"#"NL^Q^N]"UL"Q"M\cM[QL[UQR"L\VcNP"SY"QT[UOU[UNM"UL"[ZN"[aS"XPSdNT[M+""-NTQ\MN"[ZN"ULU[UQR"XQP[UTUXQ[USL"QT[UOU[UNM"laSPbMZSXM"aU[Z"M[QYY"PNXPNMNL[Q[UONM"

QL]"QRMS" UL[NPOUNaM"\L]NP[QbNL"cW" [ZN"XPSTNMM"]NMU^LNPMm" UL"cS[Z"XPSdNT[M" M[QP[N]"]\PUL^" [ZUM"k" [S"VN"k"XPNVQ[\PN"XNPUS]K" #" YNR[" UVXNRRN]" [S" YSRRSa"QM"V\TZ"SY" [ZN"QT[UOU[W"[ZQ["#"TS\R]"M\PVS\L[+"2NPNK"VW"QMXUPQ[USL"aQM"[S"RN["[ZN"PNMNQPTZ"ScdNT["cN"PNONQRN]"YPSV"[ZN"NONL[M"[ZQ["[SSb"XRQTN"UL"[ZN"YUNR]K"PQ[ZNP"[ZQL"[ZPS\^Z"VW"XPNMN["TSLOUT[USLM+"7U[Z"Q"TSVXRN`"SY"VQLW"QT[UOU[UNM"QL]"VQLW"XS[NL[UQR"XZNLSVNLQ"Q["

FA""

M[QbNK"c\["aU[ZS\["Q"TRNQP"YST\M"QM"SY"WN[K"#"]NTU]N]"[S"VQbN"XQP[UTUXQL["ScMNPOQ[USL"Q" TNL[PQR" VN[ZS]" QM" Q" VNQLM" [S" ^N[" TRSMNP" [S" [ZN" PNMNQPTZ" ScdNT[+" 4QP[UTUXQL["ScMNPOQ[USL" TQL" [Z\M" cN" MQU]" [S" ZQON" RQ\LTZN]" [ZN" XPSTNMM" SY" U]NL[UYWUL^" [ZN"PNMNQPTZ"YST\M+"=PSV"[ZUM"XPNVQ[\PN"XNPUS]"SLaQP]MK"[ZN"PNMNQPTZ"h\NM[USL"QL]"[ZN"Q]dQTNL["M\cDh\NM[USLM"NOSRON]K"[ZN"UL[NPOUNa"^\U]NM"aNPN"VQ]N"QL]"[ZN"UL[NPOUNaM"\L]NP[QbNLK" QL]" YULQRRWK" [ZN" [ZNSPN[UTQR" QXXPSQTZNM"aNPN" TZSMNL" QM" Q" XQP[" SY" [ZN"QLQRW[UTQR" XPSTNMM+" #L" [NPVM" SY" [ZN" ]ST\VNL[" VQ[NPUQRK" VW" ^NLNPQR" P\RN" aQM" [S"QMMNVcRN"NONPW[ZUL^" [ZQ["aQM"VQ]N"QOQURQcRN" [S"VN"cW" [ZN"TQMN"SP^QLU_Q[USLM+" #L"cS[Z" XPSdNT[MK" #" ZQON" ZQ]" NQMW" QTTNMM" [S" ]ST\VNL[" VQ[NPUQR+" -\[" QM" QL" QT[\QR"TSL[PUc\[SP" [S" [ZN" XPS]\T[USLM" SY" [ZN" PNMNQPTZ" S\[TSVNK" [ZN" ]ST\VNL[M" ]U]" LS["cNTSVN" nQT[UONH" \L[UR" [ZN" QLQRW[UTQR" XPSTNMM" M[QP[N]" QL]" [ZN" QLQRW[UTQR" XSUL[M"NVNP^N]+"2NPNK"[ZN"]ST\VNL["VQ[NPUQR"NL]N]"\X"cNUL^"QL"UVXSP[QL["TSL[PUc\[SP"UL"[ZN"XPSTNMM"SY"QLQRW_UL^"[ZN"]Q[Q"lTY+"TZQX[NPM"F"QL]"Bm+""

'*($+!+'*#$&".4%(=*$+"#&

$S["NL[UPNRW"TRNQP"SY"aZQ["VW"YST\M"aS\R]"cNK"#"\MN]"XQP[UTUXQL["ScMNPOQ[USL"QM"Q"aQW" [S"^N[" UL[S" [ZN" YUNR]" QL]"QRMS" [S" U]NL[UYW"VW" PNMNQPTZ" UL[NPNM[M+"-W"TRSMNRW"YSRRSaUL^" [ZN" ]NONRSXVNL[M" UL" [ZN" NVXUPUTQR" XPSdNT[K" [ZN" MTSXN" aQM" ^PQ]\QRRW"LQPPSaN]" ]SaL" QL]" VW" YST\M" cNTQVN" TRNQPNP+" %ZN" VN[ZS]" [Z\M" MNPON]" QM" QL"QXXPSQTZ" [ZQ[" QRRSaN]" [ZN" YST\M" [S" NOSRON" SONP" [UVNK" aZURN" NVXUPUTQR" NONL[MK"XS[NL[UQR" PNMNQPTZ" h\NM[USLM" QL]" [ZNSPN[UTQR" TSLMU]NPQ[USLM" aNPN" ]UMT\MMN]"QTTSP]UL^RW+"=SP"Q"XNPUS]"SY"QXXPS`UVQ[NRW"!"WNQP"#"\MN]"XQP[UTUXQL["ScMNPOQ[USL"QM"VW" XPUVQPW"VN[ZS]" UL" [ZN" YUNR]C+" JvPOULNL" QL]"<UbD<NWNP" XSUL[" [S" MSVN" SY" [ZN"VN[ZS]HM" Q]OQL[Q^NM1" q#L" M[\]UNM" [ZQ[" YST\M" SL" [ZN" UL[NPQT[USL" cN[aNNL" QT[SPM"lULTR\]UL^" [ZN" UL[NPQT[USL" aU[Z" [N`[" VQ[NPUQRmK" ScMNPOQ[USLM" QPN" ScOUS\MK" QM" [ZNUP"XPUVQPW" Q]OQL[Q^N" UM" [S" ^UON" [ZN" PNMNQPTZNP" QL" QTTNMM" [S" [ZN" ]UYYNPNL[" QT[SPMH"XSMU[USLK" MSTUQR" U]NL[U[UNM" QL]" M[PQ[N^UNMr" lJvPOULNL" QL]" <UbD<NWNP" 9EEF1" !!,m+"2NPNK" [ZN" QXXPSQTZ" ^QON" VN" Q" \LUh\N" SXXSP[\LU[W" [S" ScMNPONK" ]UMT\MM" QL]"TSVXPNZNL]" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZN" XRQWNPM" QL]" [ZNUP" QT[USLMK" aZURN" [ZN"

"""""""""""""""""""""""""""""""""""""""""""C"%ZQ["MQU]K" #"]U]"\L]NP[QbN"Q" YNa"ULU[UQR" UL[NPOUNaM" UL".PbU[NVQ" UL" [ZN" ULU[UQR"XNPUS]K" UL"SP]NP" [S"^N["QL"SONPOUNa"SY"[ZN"YUPV"U[MNRY"QL]"[ZN"T\PPNL["[NL]NLTUNM"UL"[ZN"TSL[NVXSPQPW"YUNR]"SY"QPTZU[NT[\PQR"]NMU^L+""

BE""

NVXUPUTQR" NONL[M" NOSRON]" lN+^+" 6URONPVQL" !AACK" 9EE;K" JvPOULNL" QL]" <UbD<NWNP"9EEFK"3PUbMMSL"QL]"/SOQRQULNL"9EE,m+"""

X6>CP5!9:M!@5>5A=;6:!

4QP[UTUXQL["ScMNPOQ[USL"ZSR]M"[ZN"Q]OQL[Q^N"[ZQ["U["QRRSaM"]UMRSTQ[USLM1"U["SYYNPM"QL"SXXSP[\LU[W"[S"TZQL^N"YST\M"\L]NPaQW"l6URONPVQL"!AAC1";Cm+"#"]U]"LS[K"QM"M\TZK"1#6.-$" VW" YST\M+" &Q[ZNPK" #" ]NONRSXN]" U[" QRSL^MU]N" [ZN" NM[QcRUMZVNL[" QL]"]NONRSXVNL[" SY" [ZN" NVXUPUTQR" XPSdNT[M+" -\[" QM" 6URONPVQL" XSUL[M" S\[K" [ZN"SXXSP[\LU[W"YSP"]UMRSTQ[USL"QL]"TZQL^N"UL"YST\M"QRMS"TSL[QULM"[ZN"XS[NL[UQR"XPScRNV"SY"OSR\VN+"%ZN"NL^Q^NVNL["VU^Z["QTT\V\RQ[N"Q"VQ[NPUQR"MS"RQP^N"[ZQ["U["cNTSVNM"]UYYUT\R[" [S" \L]NP[QbN" [ZN" QLQRWMUM"aU[ZS\[" XPS]\TUL^"VSPN" QLNT]S[NM" [ZQL" QT[\QR"YUL]UL^M" lUcU]m+" %ZUM" XPScRNV" ZQM" UL]NN]" cNNL" QXXQPNL[" UL" [ZN" M[\]WK" aZUTZ"XPS]\TN]"Q"VQ[NPUQR"[ZQ["Q["SLN"XSUL["MNNVN]"UVVNLMNRW"PUTZ"aU[Z"PNYNPNLTN"[S"[ZN"[aS"VQUL"YUNR]M"U["Q]]PNMMN]"lQPTZU[NT[\PN"QL]"SP^QLU_Q[USLm+"=SP"Q"aZURNK"#"YS\L]"U["TZQRRNL^UL^" [S" \L]NP[QbN" [ZN" XPSTNMM" SY" MNRNT[USLK" cNTQ\MN" cW" MNRNT[UL^" TNP[QUL"QMXNT[MK"#"LNTNMMQPURW"ZQ]"[S"LN^RNT["S[ZNPM+"""%S"XPSOU]N"QL"N`QVXRN"YPSV".PbU[NVQ1"#"ZQ]","VSL[ZM"SY"Y\RR"[UVN"YUNR]aSPb"UL"

[ZN"YUPVK" UL"aZUTZ"#"XPUVQPURW"M[\]UN]"[ZN"]NMU^L"SY" [ZN"<UbQ]S"2S\MN+"-\[" [ZNPN"aNPN" QRMS" S[ZNP" ULDZS\MN" QT[UOU[UNM" ]\PUL^" [ZN" MQVN" XNPUS]" [ZQ[" #" TSLMU]NPN]"XS[NL[UQRRW"PNRNOQL[+"-NTQ\MN"[ZN"M[\]W"[SSb"QL"SXNL"XSUL["SY"]NXQP[\PN"UL"PN^QP]M"[S"YST\MK"#"YS\L]"U["UVXSP[QL["[S"YSRRSa"MSVN"SY"[ZNMN"QT[UOU[UNM"YPSV"Q"TRSMN"PQL^NK"UL"SP]NP"[S"M\XXSP["VW"MNQPTZ"YSP"Q"TRNQP"YST\M+".R[ZS\^Z"[ZUM"NL^Q^NVNL["^QON"VN"Q"cPSQ]"SONPOUNa"SY".PbU[NVQHM"T\R[\PNg" [ZN" YUNR]"SY"QPTZU[NT[\PQR"]NMU^L"Q[" RQP^NK"QL]"MSVN"SY" [ZN"XQP[UT\RQP" UVXRUTQ[USLM" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[K" U["aQM"QRMS"M\cM[QL[UQRRW" [UVN" TSLM\VUL^+" #L" [ZUM" XPSTNMMK" #" YS\L]" U[" TZQRRNL^UL^K" cS[Z"XPQT[UTQRRW" QL]" VNL[QRRWK" [S" bNNX" SL" NL^Q^UL^" aU[Z" [ZN" YUPV" QL]" [ZNUP" OQPUS\M"QT[UOU[UNM+"#"aURR"PN[\PL"[S"[ZUM"XSUL["SY"NL^Q^UL^"QL]"aU[Z]PQaUL^"YPSV"[ZN"YUNR]"UL"Q"RQ[NP"XQPQ^PQXZ+""".M" [ZN" YST\M" NVNP^N]" QL]" [ZN" NONL[M" UL" [ZN" YUNR]" ]NONRSXN]K" [ZNPN" aNPN" [aS"

S[ZNP"NRNVNL[M"[ZQ["ZNRXN]"VN"VQbN"[ZN"TZSUTNM+"'LN"TQVN"YPSV"[ZN"YUNR]1"#"bNX["ZQOUL^" MZSP[" TSLONPMQ[USLM" aU[Z" [ZN" <(HM" SY" [ZN" SP^QLU_Q[USLM" ULOSRON]" UL" [ZN"XPSdNT[1"2URRNPe]"<\LUTUXQRU[WK"6U^LQR".PbU[Nb[NP"lZUPN]"QM"[ZN"XPSTNMM"]NMU^LNP"UL"[ZN" %SaL" 2QRR" XPSdNT[m" QL]" .PbU[NVQK" ]\PUL^" VW" VQUL" XNPUS]" SY" XQP[UTUXQL["

B!""

ScMNPOQ[USL+"#"ZQ]"\M\QRRW"LS["YSPVQRRW"QMbN]"YSP"[ZNMN"VNN[UL^M+"&Q[ZNPK"#"RN["[ZN"UL[NPQT[USL" ZQXXNL" nQTTU]NL[QRRWH" UL" [ZN" ZQRRaQW" UVVN]UQ[NRW" QY[NP" Q" XPSdNT["VNN[UL^"SP"]\PUL^"Q"cPNQb"UL"SLN"SY"[ZN"XQP[UTUXQ[USL"aSPbMZSXM+"2NPNK"#"[NM[N]"VW"U]NQM" QL]" ^S[" UVVN]UQ[N" PNMXSLMN" YPSV" [ZN" <(+" #" \MN]" [ZNMN" PNQT[USLM" QM"ULMXUPQ[USL"UL"[ZN"XPSTNMM"SY"MZQPXNLUL^"[ZN"YST\M+"""%ZN" S[ZNP" NRNVNL[" [ZQ[" ZNRXN]" VN" [S" YSPV" Q" M[PSL^NP" YST\M" TQVN" YPSV" VW"

NL^Q^NVNL["aU[Z"[ZN"PNMNQPTZ"TSVV\LU[W1"*SVUL^"YPSV"[ZN"XPQT[UTN"YUNR]"VWMNRYK"#" ULU[UQRRW" YS\L]" U[" NQMUNP" [S" U]NL[UYW"aU[Z"XNSXRN" UL" [ZN" YUNR]" [ZQL" [S" [ZSMN" UL" [ZN"PNMNQPTZ"TSVV\LU[W;+"%ZUM"OUNaXSUL["TZQL^N]"SLTN"#"^S["VSPN"NM[QcRUMZN]" UL" [ZN"PNMNQPTZ" TSVV\LU[W+" 0PQ]\QRRW" \L]NPM[QL]UL^" [ZN" MZQXN" [ZQ[" M\TZ" NVXUPUTQR"PNMNQPTZ" M[\]UNM" ZSR]K" [ZN" TZSUTNM" cNTQVN" NQMUNP" [S" VQbN+" %ZUM" NM[QcRUMZVNL["NONL[\QRRW"VQ]N"U["NQMUNP"YSP"VN"[S"TSL[QUL"[ZN"QVcU^\U[W"QL]"TSVXRN`U[W"[ZQ["[ZN"M[\]W"ZNR]K"QL]"[S"QTTNX["[S"bNNX"[ZN"YST\M"SXNL+"+""

&45!R9>9:A5!R5=D55:!;:@;M5!9:M!6C=@;M5!

5SL^"XNPUS]M"SY"XQP[UTUXQL["ScMNPOQ[USL"SY[NL"ZSR]"Q"^NLNPQR"]URNVVQ"QcS\["[ZN"PNMNQPTZNPHM"XSMU[USL"lN+^+"6URONPVQL"!AACK"3M[NPcNP^"9EE9m+"7ZURN"VW"NL^Q^NVNL["UL"2URRNPe]"<\LUTUXQRU[W"aQM"RQP^NRW"ScMNPOQ[USLQR"UL"[NPVM"SY"XQP[QbUL^"UL"YSPVQR"XPSdNT["VNN[UL^M" QL]" TSL]\T[N]"aSPbMZSXMK"VW" NL^Q^NVNL["aU[Z" QM"aNRR" 6U^LQR".PbU[Nb[NP"QM".PbU[NVQ"aQM"XQP[UTUXQ[USLQR"QL]"UL[NPQT[UON+"""%ZN" XQP[UTUXQ[UL^" M[QYY" UL" 2URRNPe]" [Z\M" LNONP" MNNVN]" [S" ]S\c[" [ZQ[" #" aQM" QL"

N`[NPLQR"XQP["UL"[ZN"XPSdNT[K"aZURN"VW"PNRQ[USLMZUX"aU[Z"XNSXRN"UL"6U^LQR".PbU[Nb[NP"QL]".PbU[NVQ"^PNa"V\TZ"TRSMNP+"%ZUM"TSL]U[USL"VQ]N"U["ULTPNQMUL^RW"UVXSP[QL["YSP"VN" [S" ZQL]RN" [ZN" YULN" cQRQLTN" cN[aNNL"cNUL^" QL" S\[MU]NP" QL]" QL" ULMU]NP" UL" [ZNMN"YUPVM+" 7ZNL" #" ZQON" XQP[UTUXQ[N]" SL" Q" PNQMSLQcRW" QT[UON" RNONR" UL" VNN[UL^MK"aSPbMZSXM"QL]"S[ZNP"[WXNM"SY"NONL[M"UL"cS[Z"YUPVMK"[ZN"X\PXSMN"ZQM"cNNL"[S"bNNX"\X"[ZN" QTTNMM" [S" [ZN" NVXUPUTQR" XPSdNT[M" QL]" [S" TSL[UL\N" [ZN" XPS]\T[USL" SY" NVXUPUTQR"VQ[NPUQR+" .M" [ZN" TSLYU]NLTN" cN[aNNL" VWMNRY" QL]" MSVN" SY" [ZN" XNSXRN" TRSMNRW"

""""""""""""""""""""""""""""""""""""""""""";".M" Q" XSUL[" SY" ]NXQP[\PN" [ZUM"VU^Z[" cN" MNNL" QM" QL" Q]OQL[Q^N1" #[" ^QON"VN" Q"aQW" UL[S" [ZN" YUNR]" QL]" QL"SXXSP[\LU[W"[S"NM[QcRUMZ"Q"PNRQ[UONRW"M[PSL^"XSMU[USL"aZURN"cNUL^"[ZNPN+".RMSK"U["^QON"VN"[ZN"SXXSP[\LU[W"[S"PN[\PL"[S"[ZN"YUNR]K"QTTSP]UL^RW"aZNL"#"YS\L]"U["LNTNMMQPW+"'L"[ZN"S[ZNP"ZQL]K"#"ZQ]"[S"VQbN"Q"TSLMTUS\M"]NTUMUSL"[S"RNQON"[ZN"XPQT[UTN"YUNR]"UL"SP]NP"[S"cN"QcRN"[S"M[\]W"U[+"<W"XNPMSLQR"dS\PLNW"YPSV"[ZN"XPQT[UTN"YUNR]"[S"[ZN"PNMNQPTZ"TSVV\LU[W"VU^Z["[Z\M"cN"MNNL"QM"Q"XQP["SY"[ZN"QT[\QR"]NONRSXVNL["SY"[ZN"M[\]W+"

B9""

ULOSRON]" UL" [ZN" XPSdNT[" NM[QcRUMZN]" QL]" VQ[\PN]K" #" VQ]N" M\PN" [S" XSUL[" S\[" VW"XSMU[USL" QM" Q" PNMNQPTZNP" SL" STTQMUSLM" aZNPN" #" N`XNPUNLTN]" [ZQ[" [ZN" RULN" cNTQVN"cR\PPN]+"<W"X\PXSMN"aQM"LS[" [S"MNNb"qMZQPN]"N`XNPUNLTNr"cN[aNNL" [ZNV"QL]"VNK"c\[" PQ[ZNP" Q" q]NMTPUcN]" N`XNPUNLTN" cQMN]" SL" V\[\QR" XQP[UTUXQ[USLr" l<UbD<NWNP"9EE;1" ;!m+" 2NPNK" VW" QMXUPQ[USL" aQM" [S" ^N[" TRSMNP" [S" [ZN" YUNR]" QL]" [Z\M" [S" QL"SXXSP[\LU[W" [S" N`XRSPN" [ZN" QLQRW[UTQR" ScdNT[" Q[" M[QbN" UL" [ZN" XPSdNT[+"%ZN" QVcU[USL"aQM"LS["[S"cNTSVN"Q"LQ[UON+"""-\[" [ZN"cQRQLTN"aQMLH["QRaQWM"NQMW+"4QP[UT\RQPRW" UL".PbU[NVQK"aZNPN"#"]U]" [ZN"

RSL^NM[" Y\RR" [UVN" YUNR]aSPbK" #" ZQ]" [S" VQbN" TSLMTUS\M" TSLMU]NPQ[USLM" QcS\[" VW"NL^Q^NVNL[+"#"aQM"NLTZQL[N]"cW"[ZN"YUPVK"QL]"cW"[ZN"QXXQPNL["TZQRRNL^N"cN[aNNL"[ZN"<(HM"QP[UT\RQ[N]"OUMUSLM"QL]" [ZN"M[QYYHM" M[P\^^RN" [S"TSVXPNZNL]"QL]" PNRQ[N" [S"[ZNMN"QMXUPQ[USLM+"2NPNK"#"TSL[UL\S\MRW"LNN]N]"[S"TRQPUYW"VW"XSMU[USL"QM"QL"N`[NPLQR"PNMNQPTZNPK" QL]" LS[" QL" UL[NPLQR"VNVcNP" SY" [ZN"<UbQ]S"2S\MN" XPSdNT[" [NQV+" %ZN"cQRQLTN" cNTQVN" NQMUNP" SLTN" [ZN" YST\M" SY" VW" M[\]W" cNTQVN" TRNQPNP+" #L" 6U^LQR".PbU[Nb[NPK"MUVURQP"TSLMU]NPQ[USLM"aNPN"LNTNMMQPWK"c\["ZNPN"VW"XNPUS]"SY"YUNR]aSPb"aQM" MZSP[NPK"aZUTZ"VQ]N" [ZN" cS\L]QPW" TRNQPNP+".RMSK" [ZN"%SaL"2QRR" XPSdNT["aQM"VSPN"]UM[ULT[" UL" U[M" XPSdNT[" M[P\T[\PNK"aZUTZ"VQ]N" U[" NQMUNP" YSP"VN" [S" QXXSUL["VW"PSRN"QM"Q"PNMNQPTZNPK"QM"SXXSMN]"[S"[ZN"S[ZNP"XRQWNPM"ULOSRON]+"""

Y;5>M!:6=5@!

%S"QTTS\L["YSP"VW"TZQRRNL^N"SY"YUL]UL^"[ZN"cQRQLTN"cN[aNNL"ULMU]N"QL]"S\[MU]N"QL]" S[ZNP" TZQRRNL^NM" [ZQ[" XQP[UTUXQL[" ScMNPOQ[USL" TSL[QUL" QM" Q" VN[ZS]K" #" bNX[" Q"PNQMSLQcRW" TRNQP" M[P\T[\PN" SY" VW" YUNR]" LS[NM+" (\PUL^" VW" XNPUS]M" SY" XQP[UTUXQL["ScMNPOQ[USLK"VW"XPUVQPW"ONZUTRNM"ZQON"cNNL"VW"cRQTb"LS[N"cSSbM"QL]"VW" RQX[SX"TSVX\[NP+" <W" LS[NM" ZQON" VSM[RW" cNNL" q]NMTPUX[USLMr" PQ[ZNP" [ZQL" qUVXPNMMUSLMr"l6URONPVQL"!AAC1" CAm+" #" [SSb"LS[NM" YPSV"QRR"VNN[UL^M" #" Q[[NL]N]" lYSPVQR" XPSdNT[DVNN[UL^MK"]NONRSXVNL[QR"]NMU^LDVNN[UL^MK"QL]"VSPNmK"]NMTPUcUL^"aZQ["XNSXRN"MQU]"QL]"[ZN"]UMT\MMUSLM"[ZQ["TQVN"\X+"#L"[ZNMN"]NMTPUX[USLMK"#"QRMS"XSUL[N]"S\["VW"SaL"TSL[PUc\[USLM"laZNL"#"MQU]"MSVN[ZUL^m+"#"SLRW"PQPNRW"VQ]N"QLQRW[UTQR"TSVVNL[M"UL"[ZN" LS[NM+" 7ZNL" #" ]U]K" #" VQPbN]" [ZNV" aU[Z" cPQTbN[M" QL]" VW" ULU[UQRM1" nl<6G1"@@@mH+" -\[" M\TZ" nXPNVQ[\PN" TSVVNL[MH" TQL" QRMS" XNPVNQ[N" [ZN" M\cMNh\NL["QLQRW[UTQR"aSPb"cW"QL[UTUXQ[UL^"Q"TNP[QUL"]UPNT[USL+"#L"[ZN"QLQRWMUMK"#"ZQON"[Z\M"SLRW"PQPNRW"\MN]"[ZNMN"TSVVNL[MK"UL"SP]NP"[S"QOSU]"VW"SaL"XPNd\]UTN"l6URONPVQL"!AACm+"%ZQ["MQU]K"M\TZ"TSVVNL[M"TQL"QRMS"M[UV\RQ[N"TPNQ[UOU[W1"[ZN"[ZS\^Z[M"QL]"U]NQM"[ZQ["

BC""

TSVN"\X" [ZPS\^Z" [ZN"TRSMN"NL^Q^NVNL["aU[Z" [ZN" YUNR]"TQL"cN" YSPV"Q"TSLM[P\T[UON"ULX\["[S"[ZN"M\cMNh\NL["XPSTNMM"SY"QLQRWMUM+""""

.:G67P9>!A6:B57@9=;6:@!

<W" XNPUS]M" SY" XQP[UTUXQL[" ScMNPOQ[USL" ZQON" QRMS" ULOSRON]" L\VNPS\M" ULYSPVQR"TSLONPMQ[USLM"UL".PbU[NVQ"QM"aNRR"QM"UL"6U^LQR".PbU[Nb[NP+"<W"QXXPSQTZ"ZQM"VQULRW"cNNL" [S" [QbN" ]SaL" LS[NM" UL[S"VW" cRQTb" LS[NcSSb"aZURN" TSLONPMUL^K" LS[" SLRW" [S"VNVSPU_N"[ZN"XSUL[MK"c\["QRMS"[S"VQbN"[ZN"VQUL"X\PXSMN"SY"S\P"TSLONPMQ[USL"TRNQP"[S"VW"TSLONPMQ[USL"XQP[LNPM+"%ZUM"cNTQVN"Q"aQW"[S"]UYYNPNL[UQ[N"VW"SaL"PSRN"YPSV"[ZQ["SY"[ZN"XQP[UTUXQL[M"UL"[ZN"YUNR]+"#Y"[ZN"LS[NcSSb"aQMLH["Q["ZQL]K"#"aS\R]"VSM[RW"PNTQX[\PN"[ZN"TSLONPMQ[USL"MZSP[RW"QY[NPK"SY[NL"]UPNT[RW"UL[S"[ZN"TSVX\[NP+".R[ZS\^Z"[ZN"LS[NM"UL"[ZN"LS[NcSSb"RQP^NRW"aNL["UL[S"[ZN"TSVX\[NP"QY[NP" [ZNMN"NLTS\L[NPMK"#"ZQON"QRMS"TSLM\R[N]"[ZN"LS[NcSSbM"QT[UONRW"UL"[ZN"M\cMNh\NL["XPSTNMM"SY"QLQRW_UL^"[ZN"VQ[NPUQR+"""<QLW"SY"VW"LS[NM"ULTR\]N]"]PQaUL^M"QL]"MVQRR"MbN[TZNM"[ZQ["aNPN"\MN]"UL"[ZN"

ULYSPVQR" TSLONPMQ[USLK" QM" VNQLM" [S" N`XRQUL" [ZN" UMM\NM" UL" h\NM[USL+" <W" ^NLNPQR"QVcU[USL"aQM" [S" ^S" [ZPS\^Z" [ZN" LS[NM" [ZN" MQVN" ]QW" QM" #" [SSb" [ZNVK" UL" SP]NP" [S"VNVSPU_N" [ZN" NONL[M" [ZQ[" TSL[UL\S\MRW" Q]]N]" SL[S" [ZN" NVXUPUTQR"VQ[NPUQR+" %ZNPN"ZQON" cNNL" [UVNM"aZNL" #" ]U]LH[" M\TTNN]" UL" ]SUL^" [ZUMK" c\[" PN[\PLUL^" [S" [ZN" LS[NM"M\cMNh\NL[RWK"#"ZQON"VSM[RW"YS\L]"[ZNV"PNQ]QcRN+"%ZN"]Q[UL^"SY"[ZN"LS[NM"ZQM"QRMS"ZNRXN]"[ZUM"XPSTNMM+"#L"[ZN"XPSTNMM"SY"QLQRWMUMK"#"ZQON"SY[NL"TSVXQPN]"[ZN"LS[NM"UL"[ZN" LS[NcSSbg" [ZN" QTT\V\RQ[N]" ]ST\VNL[M" SL" [ZN" TSVX\[NP" QL]" [ZN" ]ST\VNL["VQ[NPUQR"XPS]\TN]"cW"[ZN"XQP[UTUXQL[M"UL"[ZN"XPSTNMM+"%ZUM"QXXPSQTZ"^QON"VN"Q"PUTZ"VQ[NPUQRK"\XSL"aZUTZ"VW"QLQRWMUM"TS\R]"cN"c\UR[+"""

$D975:5@@!6G!R5;:8!@=CM;5M!

6[\]WUL^"XNSXRN" UL" [ZN" YUNR]"TQL"ZQON" [ZN"XS[NL[UQR"TZQRRNL^N" [ZQ["XNSXRN"VQW"TZQL^N"SP"Q]d\M["[ZNUP"cNZQOUSP"aZNL"QaQPN"SY"cNUL^"M[\]UN]"lN+^+"3M[NPcNP^"9EE9m+"#L"[ZUM"PN^QP]K"aN"VU^Z["MQW"[ZQ["[ZN"XNSXRN"ULOSRON]"UL"[ZN"M[\]W"aNPN"]UOU]N]"UL[S"[aS" VQUL" ^PS\XM+" %ZN" YUPM[" ^PS\X" ULOSRON]" VQLQ^NPMK" QPTZU[NT[M" SP" XPSTNMM"]NMU^LNPM+"<SM["SY" [ZNMN" laZN[ZNP"SP"LS["ZQOUL^"N`XNPUNLTN" UL" NL^Q^UL^" UL" [ZNMN"[WXNM" SY" ]NMU^L" XPSTNMMNMm" MNNVN]" XRNQMN]" [ZQ[" MSVNSLN" lUL" [ZUM" TQMN" VNm"Q[[NVX[N]"[S"!765$%+$.+$%'("%'@%:#6"%#6//$.$&%(.&$0:682K"QM"U["aQM"]NMTPUcN]"cW"

B;""

SLN"SY"[ZN"QPTZU[NT[M"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[+""2NPNK"#"aQM"STTQMUSLQRRW"QMbN]"[S"!F(+"%+68%+'7$"#,.-2K" UL"SP]NP" [S"NQMN"\X" [ZN" [NLMUSL" UL" [ZN" PSSV"QL]"XPSOU]N"MSVN"T\NM"[S"aZQ["aQM"^SUL^"SL+"%ZNMN"XRQWNPM"QXXNQPN]"[S"cN"^NLNPQRRW"UL[NPNM[N]"UL" VW" NL^Q^NVNL[K" cQMN]" SL" [ZN" XPSMXNT[M" SY" ^QULUL^" Q" TRNQPNP" XUT[\PN" SY" [ZN"XPSTNMMK"[S"aZUTZ"[ZNW"aNPN"M\cdNT[N]+"""%ZN" MNTSL]" ^PS\X" aQM" [ZN" NL]" \MNPMK" ULOU[N]" [S" NL^Q^N" UL" [ZN" XQP[UTUXQ[USL"

QT[UOU[UNM+" %ZNMN" ZQ]" Q" VSPN" PNR\T[QL[" PNMXSLMN" [S" VW" NL^Q^NVNL[+" 7ZNL" #"TUPT\RQ[N]" QVSL^" [ZN" ^PS\XM" UL" [ZN"aSPbMZSXMK" #" N`XNPUNLTN]" Q" MZUY[" QVSL^" [ZN"XQP[UTUXQL[M"Q["[ZN"VSVNL["#"NL[NPN]"[ZN"^PS\X+"-\["QM"3M[NPcNP^"XSUL[M"S\[1"q'ONP"[UVNK" [ZSMN" UL" [ZN" MN[[UL^" cNTSVN" ZQcU[\Q[N]" [S" ZNP" SP" ZUM" XPNMNLTNr" l3M[NPcNP^"9EE91"?!m+"7ZNL"#"M[QWN]"aU[Z"Q"^PS\X"YSP"QL"N`[NL]N]"QVS\L["SY"[UVN"UL"[ZN"QT[\QR"aSPbMZSXK"[ZNUP"UL[NPQT[USL"MNNVN]"[S"PN[\PL"[S"Q"TNP[QUL"YRSa"SY"TSLONPMQ[USL+"#Y"#"UL[NPQT[N]"]UPNT[RW"aU[Z"[ZN"^PS\X"UL"[ZN"TSLONPMQ[USLK"[ZNW"QRMS"MNNVN]"[S"^N["\MN]"[S"VW"NL^Q^NVNL[K"LS["QM"Q"PN^\RQP"TSRRNQ^\NK"c\["QM"QL"N`[NPLQR"XQP[W+"#Y"#"]U]"LS["NL^Q^N" ]UPNT[RW" UL" [ZN" TSLONPMQ[USLMK" c\[" PQ[ZNP" ScMNPON]K" #" MSVNZSa" MNNVN]" [S"cNTSVN" ULOUMUcRN" QY[NP" Q" aZURN1" aZNL" [ZNW" ^S[" \MN]" [S" VW" XPNMNLTN" laU[Z" VW"LS[NcSSb"SP"RQX[SXm"[ZNW"PN[\PLN]"[S"[ZNUP"UL[NPLQR"TSLONPMQ[USL+".RMSK"QM"#"NL^Q^N]"UL"VSM["aSPbMZSXM"UL"[ZN"XPSdNT[MK"[ZNW"^NLNPQRRW"MNNVN]"[S"cNTSVN"QTT\M[SVN]"[S"VW"RSL^U[\]ULQR"ULOSRONVNL[+""

359B;:8!=45!G;5>M!

3M[QcRUMZUL^"QL]"]NONRSXUL^"Q" PNMNQPTZ"XPSdNT["aU[Z"XQP[UTUXQL["ScMNPOQ[USL"QM"[ZN" TNL[PQR" ]NONRSXVNL[" QPNLQK" XS[NL[UQRRW" ULTR\]NM" Q" TZQRRNL^N" UL" PN^QP]M" [S"NONL[\QRRW"aU[Z]PQaUL^" YPSV" [ZN" YUNR]" lN+^+" 3M[NPcNP^" 9EE9m+".M"VW" PNRQ[USLMZUX"aU[Z" .PbU[NVQ" QM" aNRR" QM" aU[Z" 6U^LQR" .PbU[Nb[NP" TQL" cN" TZQPQT[NPU_N]" QM"TSVXPNZNLMUON"UL"[ZN"MNLMN"[ZQ["#"NM[QcRUMZN]"h\U[N"TRSMN"TSLLNT[USLM"[S"[ZN"XNSXRN"ULOSRON]" UL" [ZN" XPSdNT[M" Q[" M[QbNK" #" QRMS" ^S[" \MN]" [S" n[ZN" RUYN" ULMU]NH+" 2NPNK" #"UL[NPQT[N]"aU[Z"[ZN"XRQWNPM" ULOSRON]"QL]"[ZNPNcW"TSL[PUc\[N]"[S"XPS]\TN"NVXUPUTQR"VQ[NPUQR+" .M" VW" M[PQ[N^W" aQM" [S" RN[" [ZN" PNMNQPTZ" YST\M" NVNP^N" [ZPS\^Z" VW"UL[NPQT[USLM" aU[Z" [ZN" YUNR]" QL]" [ZPS\^Z" [ZN" bLSaRN]^N" [ZQ[" QTT\V\RQ[N]" UL" [ZN"XPSdNT[MK" #" YUPM[" YS\L]" U["]UYYUT\R[" [S"]NTU]N"aZNL" [S" RNQON+"3MXNTUQRRW" UL".PbU[NVQ"[ZUM" aQM" Q" TZQRRNL^N+" %ZN" <UbQ]S" 2S\MN" XPSdNT[" aNL[" [ZPS\^Z" VQdSP"]NONRSXVNL[MK"aU[Z"PNYNPNLTN"[S"[ZN"XPSdNT[" [ZQ["#" ULU[UQRRW"MN["S\[" [S"M[\]W+"%ZNMN"TZQL^NM" TSL[UL\N]" [S" XPS]\TN" LNa"XNPMXNT[UONM" QL]" SXXSP[\LU[UNMK" QL]"VQ]N"VN"

BF""

TSLMU]NP"n[S"ZQL^"UL"[ZNPNH"QM"[ZN"]NONRSXVNL[M"NVNP^N]+"6S"QR[ZS\^Z"[ZN"PNMNQPTZ"YST\M"[ZQ["ZQ]"NM[QcRUMZN]"MNNVN]"PNRNOQL[K"UL"[ZN"MNLMN"[ZQ["TNP[QUL"QLMaNPM"[S"VW"h\NM[USLM" aNPN" PNXNQ[N]" QL]" ^UONL" VSPN" ]NX[Z" UL" ULYSPVQR" TSLONPMQ[USLM" QL]"UL[NPOUNaMK" [ZN" YUNR]" LS[NM" QRMS" bNX[" PNONQRUL^" LNa"VQ[NPUQR" QM" [ZN" XPSdNT[" U[MNRY"TSL[UL\N]"[S"]NONRSX+"""-\["QM"3M[NPcNP^" l9EE9m"XSUL[M"S\[K"N`[NPLQR" YQT[SPM"SY[NL"TSL[PUc\[N" [S"]NTU]N"

aZNL" [S" RNQON+" %ZUM" QRMS" ZQXXNLN]" ZNPN+" %ZN" YPQVNaSPb" SY" VW" M[\]W" ZNR]" [ZN"[UVNYPQVN" SY" Q" ]ST[SPQ[N+" %ZUM" ZNRXN]" VN" ]NTU]N" [S" RNQON" .PbU[NVQ" aZNL" [ZN"XPSdNT["aNL["UL[S"[ZN"MNTSL]"XZQMN"SY"]NONRSXVNL["lTY+"*ZQX[NP"Bm+"""

+#$%(=+%54&

#["UM"SY[NL"QP^\N]"[ZQ["ScMNPOQ[USLQR"M[\]UNM"RNQON"cNZUL]"QL"\LPNRUQcRN"NVXUPUTQR"VQ[NPUQR" QM" q]UYYNPNL[" ScMNPONPM" VQW" PNTSP]" ]UYYNPNL[" ScMNPOQ[USLMr" l6URONPVQL"!AAC1"Am+"=SP"[ZN"ScMNPOQ[USLQR"VQ[NPUQR"[S"qcNTSVN"]Q[Qr"U["UM"UVXSP[QL["[S"M\XXSP["U[" aU[Z"VN[ZS]M" [ZQ[" TQL" XPS]\TN"VQ[NPUQR" [ZQ[" TQL" ^UON" Q"VSPN" XPNTUMN" S\[RULN1"q2SaNONP" MSXZUM[UTQ[N]" M\TZ" PNTSP]UL^" ]NOUTNM" s\MN]" [S" XPS]\TN" ScMNPOQ[USLQR"]Q[Qt"VQW" cNK" [ZNW" TQLLS[" SYYNP" [ZN" ]N[QUR" YS\L]" UL" [PQLMTPUX[M" SY" PNTSP]N]" [QRbr"l6URONPVQL"!AAC1"!!?m+"#"[Z\M"[\PLN]"[S"UL[NPOUNaM"QM"[ZN"MNTSL]"XPUVQPW"VN[ZS]K"UL"SP]NP" [S" TSL[PUc\[N" [S"XPS]\TUL^" NVXUPUTQR"VQ[NPUQR+"%ZUM"VN[ZS]"^QON"VN" [ZN"SXXSP[\LU[W" [S"]U^"]NNXNP" UL[S"TNP[QUL" [ZNVNM" [ZQ[" [ZN"XQP[UTUXQL["ScMNPOQ[USL"ZQ]"U]NL[UYUN]+"".R[ZS\^Z"[ZN"VN[ZS]"SY"UL[NPOUNaUL^"VU^Z["QRRSa"[ZN"PNMNQPTZNP"[S"ULh\UPN"UL[S"

TNP[QUL" [ZNVNM"aU[Z"VSPN"]NX[ZK" [ZN" QXXPSQTZ" TQL" QRMS"cNNL" MNNL" YPSV"Q" TPU[UTQR"OUNaXSUL[+"2NPNK" q[ZN" UL[NPQT[USL" UL" [ZN" UL[NPOUNa" TQL" cN" MNNL" QM" Q" PNM\R[" SY" [ZN"PNMNQPTZ"XPSdNT[HM"XNPMXNT[UONK"XPUVQPURW"YST\MUL^"SL"[ZN"TQ[N^SPUNM"XSUL[N]"S\[r"k"XPUSP" [S" [ZN" UL[NPOUNa" MU[\Q[USL" l<UbD<NWNP" 9EE;1" CCm+" #L" [ZUM" aQWK" [ZN" VN[ZS]"VU^Z[" cN" TSLMU]NPN]" XPN]N[NPVULN]+" .M" JvPOULNL" XSUL[M" S\[K" ZSaNONPK" [ZN"TSLM[P\T[USLUM["XNPMXNT[UON" PQ[ZNP" MNNM" [ZN"S\[TSVN"SY" QL" UL[NPOUNa"QM" Q" PNM\R[" SY"qMSTUQRRW" MU[\Q[N]" QT[UOU[UNMr" lJvPOULNL" 9EEF1" 9,mK" aZNPN" UL[NPOUNaNP" QM" aNRR" QM"UL[NPOUNaNN" YSPV" [ZNUP" PNMXSLMNM" cQMN]" SL" [ZN" UL[NPOUNa" MU[\Q[USL+" %ZN" S\[TSVN"

BB""

MZS\R]" [Z\M" LS[" cN" MNNL" QM" UL]NXNL]NL[" YPSV" [ZN" MU[\Q[USL" aU[ZUL" aZUTZ" U[" aQM"TPNQ[N]" lUcU]+m+" .RSL^" [ZN" MQVN" RULNMK" (NL_UL" PNYNPM" [S" [ZN" UL[NPOUNa" QM"aZQ[" ZN"TQRRM"qQL"ScMNPOQ[USLQR"NLTS\L[NP+".L"NLTS\L[NPp"PNXPNMNL[M"[ZN"TSVUL^"[S^N[ZNP"SY"[aS"SP"VSPN"XNPMSLM"YSP"[ZN"X\PXSMN"SY"YST\MN]"UL[NPQT[USLr"l(NL_UL"!A?E1"!CCK"UL"6URONPVQL"!AAC1"A;m+"""

25P;Z@=7CA=C75M!;:=57B;5D@!

#"ZQON"VQULRW"TSL]\T[N]"aZQ["0\cPU\V"QL]"2SRM[NUL"TQRR"qMNVUYSPVQR"^\U]N]"TSLONPMQ[USLMr"l0\cPU\V"QL]"2SRM[NUL"!AA?1"!;!mK"QRMS"bLSaL"QM"MNVUDM[P\T[\PN]"UL[NPOUNaM" lN+^+" /OQRN" !AA?K" 3M[NPcNP^" 9EE9K" <WNPM" 9EEAm+" %ZUM" QXXPSQTZ" ZQM"XPSOU]N]"VN"aU[Z"qMSVN"M[P\T[\PNK"aZURN"QRRSaUL^"YSP"MSVN"UVXPSOUMQ[USLr"l<WNPM"9EEA1"!9Fm+"2NPNK"#"]NONRSXN]"UL[NPOUNa"^\U]NM"QL]"\MN]"[ZNV"UL"QTTSP]QLTN"aU[Z"[ZN" aQW" [ZN" UL[NPOUNa" MU[\Q[USL" ]NONRSXN]+" %ZNMN" aNPN" ^\U]NRULNM" [ZQ[" XQP[RW"M\^^NM[N]" TNP[QUL" UMM\NM" [S" cN" [S\TZN]" \XSL" ]\PUL^" [ZN" N`TZQL^NK" c\[" [ZQ[" QRMS"QRRSaN]" [ZN"TSLONPMQ[USL" [S"aQL]NPK" UL" [ZN"TS\PMN"SY" U[M"SaL"]NONRSXVNL[+" #Y"aN"RSSb"cQTb"Q["[ZN"N`QVXRN"YPSV"[ZN"%SaL"2QRR"XPSdNT["[ZQ["aQM"URR\M[PQ[N]"QcSON"UL"[ZUM"TZQX[NPK"#"aQM"LS["QaQPN"SY"[ZQ["[ZN"NL[PQLTN"TS\L[NP"ZQ]"cNNL"PN]NMU^LN]"UL"QL"UL[NPQT[UON"XPSTNMM"[ZQ["ULOSRON]"NL]"\MNP"PNXPNMNL[Q[UONM"aZNL"[ZN"UL[NPOUNa"aQM"MN["YSP[Z+"%ZUM"ULYSPVQ[USL"aQM"XPSXSMN]"cW"[ZN"PNMXSL]NL["QM"QL"N`QVXRNK"QL]"QM"#"PNQRU_N]" U[M" URR\M[PQ[UON" XS[NL[UQR" aU[Z" PN^QP]M" [S" VW" PNMNQPTZ" UL[NPNM[MK" #" RN[" [ZUM"XQP[UT\RQP"M[SPW"[QbN"\X"Q"RQP^N"XQP["SY"[ZN"TSLONPMQ[USL+"""7U[Z"PN^QP]M"[S"[ZN"[WXN"SY"h\NM[USLM"QMbN]"QL]"[ZN"[WXN"SY"PNMXSLMN"PNTNUON]K"#"

N`XNPUNLTN]" [ZQ[" UY"VW" ULU[UQ[USL" ULTR\]N]"Q"TSLTPN[N"h\NM[USL" lN+^+" n#L"aZQ["aQW"]U]"WS\"YUL]"[ZQ["[ZN"TSVXN[U[USL"cPUNY"]UYYNPNL[UQ[N]"YPSV"VSPN"[PQ]U[USLQR"cPUNYMom"[ZN" PNXRUNM" \M\QRRW" PNYNPPN]" ]UPNT[RW" [S" [ZN" h\NM[USL+" -QMN]" SL" [ZUM" PNXRWK" #" SY[NL"VQ]N" Q" PNYRNT[USL" \XSL" U[M" TSL[NL[K" MSVN[UVNM" UL]UTQ[UL^" Y\P[ZNP" NRQcSPQ[USL" SL"TNP[QUL"SY"U[M"XQP[M+"#L"[ZUM"aQWK"[ZN"N`TZQL^N"TSL[UL\N]+"#Y"[ZN"UMM\N"aQM"cPSQ]NPK"ZSaNONPK" lN+^+" n%NRR" VN" QcS\[" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" QM" WS\" ^NLNPQRRW"QXXPSQTZ" U[Hm" U[" \M\QRRW" PNh\UPN]" VSPN" ULOSRONVNL[" cW" VN" QM" QL" UL[NPOUNaNPK" UL"SP]NP" [S" MN[" YSP[Z" [ZN" UL[NPOUNaNNM" PNMXSLMN+" #[" SY[NL" RN]" [S" QL" ULU[UQR" N`TZQL^N"cN[aNNL"\MK"MS"QM"[S"MSP["S\["Q"aQW"[S"QXXPSQTZ"M\TZ"Q"cPSQ]"QPNQ+".RMSK"U["MZS\R]"cN" LS[N]" [ZQ[" VQLW" QPTZU[NT[M" QPN" LS[" ONPW" ONPcQR" UL" [ZNUP" TSVV\LUTQ[USL" lTY+"TZQX[NPM" ;" QL]" MNT[USL" B.m+" #L" QRR" UL[NPOUNaM" #" ZQON" [Z\M" cPS\^Z["VW"cRQTb" LS[N"cSSbK".C"XQXNP"QL]"Q"PNTSP]NPK"QL]"UL"VQLW"SY"[ZN"UL[NPOUNaM"aU[Z"QPTZU[NT[MK"[ZN"

B?""

XQXNP" aQM" \MN]" [S" URR\M[PQ[N" aZQ[" [ZNW" VNQL[+" #" aURR" PN[\PL" [S" [ZUM" XSUL[" UL" [ZN"]UMT\MMUSL"SY"]ST\VNL["VQ[NPUQR"QM"Q"VN[ZS]K"cNRSa"UL"[ZUM"TZQX[NP+""""

$A=;B5!;:=57B;5D;:8!

#L" VW" QXXPSQTZ" [S" UL[NPOUNaUL^" #" ZQON" cNNL" ULMXUPN]" cW" 0\cPU\V" QL]"2SRM[NULHM"TSLTNX["SY"qQT[UON"UL[NPOUNaUL^r+"%ZNW"YST\M"SL"[ZN"qQT[UONLNMMr"SY"[ZN"UL[NPOUNaNP"QL]"SL"[ZN"UL[NPQT[USL"cN[aNNL"UL[NPOUNaNP"QL]"UL[NPOUNaNNM"lSP"QM"[ZNW"TQRR"U["qPNMXSL]NL[MrmK"QL]"TSLMU]NP"[ZN"VQ[NPUQR"^NLNPQ[N]"UL"QL"UL[NPOUNa"MU[\Q[USL"[S"cN"TSDXPS]\TN]"l2SRM[NUL"QL]"0\cPU\V"9EE;1"!;Em+"-W"QXXRWUL^"Q"M[PSL^"YST\M"SL"[ZN"UL[NPQT[USLK"[ZN"QXXPSQTZ"QRMS"]UYYNPNL[UQ[NM"YPSV"[ZN"LS[USL"SY"QL"UL[NPOUNa"QM" QL" SXXSP[\LU[W" [S" VNPNRW" TSRRNT[" ULYSPVQ[USL" QcS\[" [ZN" PNMXSL]NL[Mg" [ZNUP"XPQT[UTNM"QL]"YNNRUL^M+"2NPNK"[ZN"[PQ]U[USLQR"QXXPSQTZ"[S"QL"UL[NPOUNa"QM"qQ"SLNDaQW"XUXNRULN"YSP"[PQLMXSP[UL^"bLSaRN]^Nr"lUcU]1"!;!mK"UL"aZUTZ"[ZN"UL[NPOUNaNP"QUVM"[S"[QbN" SL" Q" M\c[RN" QL]" LN\[PQR" Q[[U[\]NK" UM" RNY[" cNZUL]+" #LM[NQ]K" U[" UM" [ZN" N`TZQL^N"cN[aNNL"[ZN"[aS"XQP[UNM"[ZQ["^NLNPQ[NM"[ZN"PNM\R[M+"#L"[ZUM"aQWK"[ZN"M[SPUNM"[ZQ["[ZN"UL[NPOUNa" PNONQRM" VU^Z[" cN" MQU]" [S" NVNP^N" UL" Q" V\[\QR" NYYSP[" QL]" [Z\M" QM"ULM[U[\[USLQR"M[SPUNM"VQ]N"\X"cW"ULM[U[\[USLQR"cS]UNM"PQ[ZNP"[ZQL"cW"UL]UOU]\QR"MNRONM"l0\cPU\V"QL]"2SRM[NUL"9EE9m+"q<NQLUL^"UM"LS["VNPNRW"NRUTU[N]"cW"QX["h\NM[USLUL^K"LSP" MUVXRW" [PQLMXSP[N]" [ZPS\^Z" PNMXSL]NL[" PNXRUNMg" U[" UM" QT[UONRW" QL]"TSVV\LUTQ[UONRW" QMMNVcRN]" UL" [ZN" UL[NPOUNa" NLTS\L[NPr" l2SRM[NUL" QL]" 0\cPU\V"9EE;1"!;!m+"""#L"[ZN"M[\]WK".PbU[NVQHM"<("SY[NL"TQRRN]"VN"!"#$%"6*5,.-%0$+$601#$02K"]\PUL^"

[ZN" [UVN" #" \L]NP[SSb"VW" XQP[UTUXQL[" ScMNPOQ[USL+"<W" UVXPNMMUSL" UM" [ZQ[" [ZUM"aQM"VNQL["QM"Q"YPUNL]RW"TSVVNL["[S"ZSa"[ZN"UL[NPQT[USLM"cN[aNNL"VWMNRY"QL]"[ZN"YUPV"[SSb" XRQTN" UL" VNN[UL^M" QL]" UL[NPOUNaMK" c\[" U[" QRMS" PNYRNT[M" [ZQ[" ZN" YS\L]" VW"NL^Q^NVNL["\L[PQ]U[USLQR+"2UM"TSVVNL["MSVNZSa"MNNVM"[S"TQX[\PN"[ZN"U]NQ"SY"[ZN"QT[UON"UL[NPOUNa+"#"QRMS"YS\L]"[ZN"QT[UON"QXXPSQTZ"ZNRXY\RK"aU[Z"PN^QP]M"[S"[ZN"YQT["[ZQ["[ZN"M[\]W"YST\MN]"SL"Q"RULb"lcN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNMm"[ZQ["aQM"LNa"[S"VSM[" SY" [ZN" PNMXSL]NL[M" QL]" [Z\M" SY[NL" ]UYYUT\R[" [S" PNMXSL]" [S" QL]" QP[UT\RQ[N+"-NTQ\MN"SY"[ZUMK"#"SY[NL"PNMXSL]N]"[S"[ZNUP"PNMXSLMNMK"MS"QM"[S"TZNTb"aZN[ZNP"#"ZQ]"\L]NPM[SS]"[ZNUP"N`XS\L]UL^K"QL]"[S"QRRSa"[ZNV"[S"Y\P[ZNP"[ZNUP"PNQMSLUL^+""".M" XSUL[N]" S\[" QcSONK" #" aQU[N]" PNRQ[UONRW" RSL^" cNYSPN" #" M[QP[N]" [S" \L]NP[QbN"

UL[NPOUNaMK"QM"#"LNN]N]"[ZN"PNMNQPTZ"YST\M"[S"VQ[\PN"QL]"NM[QcRUMZ+"%ZN"PNM\R["aQM"

B,""

[ZQ["[ZN"VQUL"XQP["SY"[ZN"UL[NPOUNa"MNMMUSLM"[SSb"XRQTN"M\cMNh\NL["[S"[ZN"XQP[UTUXQL["ScMNPOQ[USL+"%ZN"[UVNRW"]UM[QLTN"cN[aNNL"[ZNMN"[aS"VN[ZS]M"QRRSaN]"VN"[S"\MN"[ZN"UL[NPOUNa"MU[\Q[USLM"QM"QL"SXXSP[\LU[W"[S"PN[\PL"[S"[ZN"NVXUPUTQR"YUNR]M"QL]"[Z\M"[S"PNOUMU[" [ZN" MN[[UL^+" #L" .PbU[NVQ" QM" aNRR" QM" UL" 6U^LQR" .PbU[Nb[NPK" #" \MN]" [ZNMN"STTQMUSLM" [S" ZQON" TSYYNN" aU[Z" M[QYY" VNVcNPM" [ZQ[" aNPN" TRSMNRW" ULOSRON]" UL" [ZN"XPSdNT[M"aZURN"#"]U]"[ZN"XQP[UTUXQL["ScMNPOQ[USL+"2NPNK"VW"X\PXSMN"aQM"[S"ZNQP"ZSa"[ZUL^M" UL" [ZN"XPSdNT[M"XPS^PNMMN]+"7N"VU^Z[" [Z\M"MQW" [ZQ[" [ZN" UL[NPOUNa"MU[\Q[USLM"XPSOU]N]"QL"SXXSP[\LU[W"[S"PNOUMU["[ZN"YUNR]+""

&45!;:=57B;5D55@!

.M" VNL[USLN]" QcSONK" YS\P" SY" [ZN" ^PS\XM" [ZQ[" QPN" ULOSRON]" UL" [ZUM" [WXN" SY"c\UR]UL^"XPSdNT["ZQON"XRQWN]"Q"TNL[PQR"PSRN"UL"[ZN"M[\]W+"%ZN"PNMXSL]NL[M"ZQON"[Z\M"PNXPNMNL[N]" [ZNMN" YS\P1" QPTZU[NT[MK" XPSTNMM" ]NMU^LNPMK"VQLQ^NPM" laZS" PNXPNMNL[N]"[ZN" TRUNL[" SP^QLU_Q[USLm" QL]" NL]" \MNPM" laZS" aNPN" M[QYY" VNVcNPM" UL" [ZN" TRUNL["SP^QLU_Q[USLm+" %ZUM" TZSUTN" PNYRNT[M" [ZN" SONPQRR" YST\M" SY" [ZN" M[\]W1" SP^QLU_N]" NL]"\MNP"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMK"QM"Q"VNQLM"[S"N`XRSPN"[ZN"RULb"cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L+" .M" YSP" [ZN" YUPM[" [aS" ^PS\XMK" #"TSLMU]NPN]" [ZN" VN[ZS]M" QL]" aSPb" XPSTNMMNM" [ZQ[" [ZNW" PNXPNMNL[N]" QL]" [ZN"PNRQ[USLMZUX"cN[aNNL"[ZNV"QM"ZU^ZRW"PNRNOQL[K"UL"SP]NP"[S"\L]NPM[QL]"ZSa"[ZN"TRUNL["SP^QLU_Q[USL"TS\R]"LQOU^Q[N" [ZPS\^Z" [ZNMN" [WXNM"SY"XQP[UTUXQ[USL"QT[UOU[UNM+".M"YSP"[ZN"VQLQ^NPMK"#"XQP[UT\RQPRW"YST\MN]"SL"[ZN"<("RNONRK"UL"SP]NP"[S"cN"QcRN"[S"]UMT\MM"ZSa"M[PQ[N^UT"QMXUPQ[USLM"]NONRSXN]"UL"[ZN"XPSdNT[M+"#"\L]NP[SSb"MNONPQR"UL[NPOUNaM"QM" aNRR" QM" L\VNPS\M" ULYSPVQR" TSLONPMQ[USLM" aU[Z" [ZN" <(M" SY" [ZN" XPUVQPW"SP^QLU_Q[USLM" l2URRNPe]" <\LUTUXQRU[WK" 6U^LQR" .PbU[Nb[NP" QL]" .PbU[NVQmF+" =ULQRRWK"[ZN" NL]" \MNPM" ZQON" XRQWN]" QL" UVXSP[QL[" XQP[" UL" [ZN" XPSdNT[+" 3`TNX[" YSP" [ZN"UL[NPOUNaM"aU[Z"M[QYY" YPSV"6U^LQR".PbU[Nb[NP" lXPSTNMM"]NMU^LNPM" UL" [ZN"%SaL"2QRR"XPSdNT[m" QL]" /2&" .PbU[Nb[NP" lQPTZU[NT[M" UL" [ZN" %SaL" 2QRR" XPSdNT[mK" QRR" SY" [ZN"PNMXSL]NL[M"ZQON"PNXPNMNL[N]"[ZN"TRUNL["SP^QLU_Q[USL+"#L".PbU[NVQBK"[ZUM"TSLTNPLN]"UL" XPULTUXRN" QRR" SY" [ZN" PNMXSL]NL[MK" QR[ZS\^Z" LSLN" SY" [ZNMN" aNPN" ULOU[N]" [S" [ZN"UL[NPOUNa" MU[\Q[USL" UL" [ZNUP" TQXQTU[W" SY" cNUL^" NL]" \MNPM+" &Q[ZNPK" [ZN" UL[NPOUNaM"YST\MN]"SL"[ZNUP"XSMU[USLM"QM"QPTZU[NT[MK"XPSTNMM"]NMU^LNPM"SP"VQLQ^NPM+"#L"2URRNPe]"

"""""""""""""""""""""""""""""""""""""""""""F"#["MZS\R]"QRMS"cN"LS[N]"[ZQ["MNONPQR"S[ZNP"UL[NPOUNaNNM"aNPN"VU]]RN"VQLQ^NPM"[ZQ["aNPN"QRMSK"UL"OQPUS\M"aQWMK"ULOSRON]"UL"[ZN"M[PQ[N^UT"]NTUMUSL"VQbUL^"UL"[ZN"XPSdNT[M+"B".PbU[NVQ"ZNR]"VQLW"PSRNM" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[1"QM"QPTZU[NT[MK"XPSTNMM"]NMU^LNPK"NL]"\MNP"QL]"TRUNL[+"

BA""

<\LUTUXQRU[WK"SL"[ZN"S[ZNP"ZQL]K"QRR"UL[NPOUNaM"PNXPNMNL[N]"[ZN"NL]"\MNP"XNPMXNT[UON"QXQP["YPSV"[ZQ["SY"[ZN"<(+"""

$:9>Q<;:8!=45!;:=57B;5D@!!

%ZN"XPSTNMM"SY"QLQRWMUM"VU^Z["cN"MQU]"[S"cN"]UOU]N]"UL[S"[aS"VQUL"XQP[M1"=UPM[K"#"PNQ]" [ZPS\^Z" [ZN" UL[NPOUNaM"aZNL" [ZNW" PN[\PLN]" YPSV" [ZN" [PQLMTPUcNPK"aZUTZ"aQM"^NLNPQRRW"XPUSP"[S"[ZN"XPSTNMM"SY"QLQRWMUM+"%ZUM"YUPM["P\L"^QON"VN"QL"SONPOUNa"SY"[ZN"VQ[NPUQR"SL"Q"[ZNVN"RNONRK"aU[Z"PNYNPNLTN"[S"[ZN"h\NM[USLM"#"QMbN]"UL"[ZN"UL[NPOUNaM+".M" #" PNQ]K" TNP[QUL" XSUL[M" SY" PNYNPNLTNM" QL]" XQP[UT\RQP" M[SPUNM" NVNP^N]K" MSVN" SY"aZUTZ" URR\M[PQ[N]" [ZNMN" ^NLNPQR" [ZNVNM+" #" VQPbN]" [ZNMN" XQMMQ^NM" WNRRSa" lUL"NRNT[PSLUT"UL[NPOUNaM"SP"NRNT[PSLUT"ScMNPOQ[USL"LS[NMm+"""&N[\PLUL^"[S"[ZN"UL[NPOUNaM"UL"[ZN"MNTSL]"P\LK"#"aQM"VSPN"YST\MN]+"2NPNK"#"\MN]"

[ZN" WNRRSa" VQPbM" YSP" ULMXUPQ[USLK" aU[Z" PNYNPNLTN" [S" [ZN" ^NLNPQR" [ZNVNM" [ZQ[" [ZN"[ZNMUM"QUVN]"[S"Q]]PNMM+"2SaNONPK"#"QRMS"YS\L]"[ZN"WNRRSa"VQPbM"QLLSWUL^"UL"[ZN"MNTSL]"P\LK"QM"#K"Q[" [ZUM"XSUL[K"MNQPTZN]"YSP"XQP[UT\RQP"M[SPUNM"QL]"STT\PPNLTNM"[ZQ["TS\R]"M[PNL^[ZNL"[ZN"XSUL[M"[ZQ["[ZN"VQ[NPUQR"MNNVN]"[S"XPS]\TN+".M"[ZN"UL[NPOUNaM"aNPN"VQ]N" SONP" Q" M\cM[QL[UQR" XNPUS]" SY" [UVNK" #" SY[NL" \MN]" XSUL[M" YPSV" XPNOUS\M"UL[NPOUNaM"QM"ULMXUPQ[USL"aZNL"XRQLLUL^"QL]"\L]NP[QbUL^"[ZN"LN`[+"7U[Z"PN^QP]M"[S"[ZN"YS\P"M[SPUNM"[ZQ["QPN"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"[ZN"QLQRWMNM"cNRSa"lTY+"MNT[USLM"F-K"F*K"B-"QL]"B*mK"#"ZQON"\MN]"[ZN"UL[NPOUNaM"QT[UONRW"UL"[ZN"XPSTNMM"SY"QLQRWMUMK"UL"SP]NP"[S"XPSOU]N"XNPMXNT[UONM"QL]"]NX[Z"UL[S"[ZNMN"M[SPUNM+"#L"[ZN"QT[\QR"[N`["[ZQ["VQbNM" \X" [ZN" [ZNMUMK" #" ZQON" \MN]" Q" YNa" XPQT[UTQR" P\RNMK" aU[Z" PN^QP]M" [S" ZSa" [ZN"VQ[NPUQR"UM"cPS\^Z["YSP[Z"UL"[ZN"[N`[+":\S[Q[USLM"YPSV"[ZN"NVXUPUTQR"YUNR]"QPN"VQPbN]"aU[Z" qh\S[Q[USL" VQPbMr" QL]" ,"6*,1+% l!G#$% 601#,"$1"% #6+% 6*:68+% "6*5$&% :,"#% "#$%(+$0+H2m+" :\S[Q[USLM" YPSV" cSSbM" QL]" XQXNPM" QPN" VQPbN]" SLRW" aU[Z" qh\S[Q[USL"VQPbMr" lq%ZQ[HM" aZW" MNLMNVQbUL^" LNONP" M[SXMrmK" aZURN" VW" SaL" TSLTNX[\QR"TSLMU]NPQ[USLM" QPN" VQPbN]" aU[Z" nMUL^RN" h\S[Q[USL" VQPbMH" l#" QUV" [S" N`XRSPN" ZSa"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"TQL"XPS]\TN"nTSLLNT[USLMH"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMm+"""

&79:@A7;?=;6:!

.RR" UL[NPOUNaM" ZQON" cNNL" [QXN]" SL" Q"]U^U[QR" PNTSP]NPK" cPS\^Z[" SL[S" Q"*(" QL]"MNL["SYY"[S"Q"XPSYNMMUSLQR"[PQLMTPUcNPK"MZSP[RW"QY[NP+"6ZN"[PQLMTPUcN]"[ZN"UL[NPOUNaMK"

?E""

QL]"PN[\PLN]"[ZNV"QM"Q"[PQLMTPUcN]"[N`["UL"Q"aSP]"]ST\VNL["Q[[QTZN]"[S"QL"NVQUR+"6ZN"aS\R]"QRMS"PN[\PL"[ZN"*("YSP"VN"[S"PN\MN"U["YSP"[ZN"LN`["UL[NPOUNa+"%ZN"MQVN"XNPMSL"ZQM"[PQLMTPUcN]"QRR"UL[NPOUNaMK"N`TNX["YPSV"[ZN"YUPM["YS\P"#"]U]"UL".PbU[NVQK"aZUTZ"aNPN"VQ]N"SL"Q"LSLD]U^U[QR"PNTSP]NPK"Q"YSPVQ["[ZN"[PQLMTPUcNP"PNY\MN]+"#"ZQON"RUM[NLN]"[ZPS\^Z"[ZNMNK"c\["LS["aPU[[NL"[ZNV"\X+"""%ZN"[PQLMTPUX[USLM"ZQON"cNNL"VQ]N"aU[ZS\["YQT[SPM"RUbN"XQ\MNM"M\TZ"QM"!$#AA2"SP"

!#772K" QL]" aU[ZS\[" RQ\^Z[NP+" 7ZNL" RQ\^Z[NP" QXXNQPM" UL" [ZN" YSRRSaUL^" [N`["l!=*6(-#+?2mK"U["UM"VQ]N"cW"VNK"cQMN]"SL"VW"M\cMNh\NL["PNOUMU["[S"[ZN"Q\]US"YURN"SY"[ZN"UL[NPOUNa+"""4QMMQ^NM"LS["XSMMUcRN"[S"ZNQP"ZQON"cNNL"VQPbN]"aU[Z"qAAAIJKr"QL]"UL[NPP\X[USLM"

ZQON" cNNL" VQPbN]" aU[Z" qAAALr+" #L" PN^QP]M" [S" [ZN" MXNTUYUT" [ZNVNM" QL]" XQP[UT\RQP"M[SPUNM"#"ZQON"X\PM\N]"UL"[ZN"QLQRWMUMK"#"ZQON"PN[\PLN]"[S"[ZN"Q\]US"YURN"UL"SP]NP"[S"ZNQP"[ZPS\^Z"[ZNMN"UL"[ZN"RUON"ONPMUSL+"""

,"!-8%#$&8*$%(+*3&

%ZN" RQM[" SY" VW" XPUVQPW" VN[ZS]M" ZQM" cNNL" [ZQ[" SY" ]ST\VNL[" VQ[NPUQR+"(ST\VNL[M"QL]"[N`[M"ZQON"ULTPNQMUL^RW"cNTSVN"Q"TNL[PQR"VN[ZS]SRS^UTQR"QXXPSQTZ"[S" M[\]W" MSTUQR" TSL[N`[M" lN+^+" 6VU[Z"!A,;K" 9EE!K"4PUSP" 9EECK" 9EE;K".[bULMSL" QL]"*SYYNW" 9EE;K" J\M[NMNL" 9EEFm+" %S]QWK" OQPUS\M" [WXNM" SY" ]ST\VNL[M" YSPV" QL"UVXSP[QL["aQW" [S" TSVV\LUTQ[NK" OUM\QRU_N" QL]" ]UMT\MM" LS[" SLRW" QL" SP^QLU_Q[USLHM"XPS]\T[M" QL]" MNPOUTNMK" c\[" QRMS" U[M" XPQT[UTNg" aSPb" XPSTNMMNMK" PS\[ULNM" QL]"PNRQ[USLMZUXM"lN+^+"6VU[Z"9EE!m+"%ZN"SP^QLU_Q[USLHM"TSLM[U[\[USL"VU^Z["[Z\M"cN"MQU]"[S" PNMU]N" UL" [ZN" PNRQ[USLMZUX" cN[aNNL" Z\VQL" QT[UOU[W" QL]" TNL[PQR" TSLTNX[M" SP"XZPQMUL^M"YPSV"]ST\VNL[M"l6VU[Z"!A,;K"9EE!m+"""#L" [ZN" TSLM[P\T[USLUM[" XNPMXNT[UONK" YST\M" UM" XRQTN]"SL" [ZN"]ST\VNL[MH"VQ[NPUQR"

M[Q[\M1" %ZNUP" TSLTPN[N" XZWMUTQR" QXXNQPQLTN" QL]" [N`[\QR" h\QRU[W" l[N`[MK" ]PQaUL^MK"N[T+mK"PQ[ZNP"[ZQL"[ZN"XNPTNX[USLM"[ZQ["[ZN"XNSXRN"ULOSRON]"UL"[ZN"XPS]\T[USL"SY"[ZN"]ST\VNL[MK" PNXPNMNL[" lJ\M[NMNL" 9EEFm+" 2NPNK" [ZN" ]ST\VNL[" VQ[NPUQR" UM" MNNL" QM" Q"TSVXSLNL["[ZQ["TSL[PUc\[NM"[S"QT[USLK"LS["UL"Q"XPNTUMN"QL]"\LQVcU^\S\M"YSPVQ[K"c\["

?!""

PQ[ZNP"aU[Z"PNYNPNLTN"[S"[ZN"TSL[N`[M"UL"aZUTZ"U["QXXNQPM"lN+^+"6VU[Z"!A,;K"0\cPU\V"QL]" 2SRM[NUL" !AA?K" <UbD<NWNP" 9EEFm+" -NTQ\MN" ]ST\VNL[M" QPN" ]\PQcRN" UL" [ZNUP"VQ[NPUQR"TSLM[U[\[USLK" [ZNW"ZQON"[PQ]U[USLQRRW"cNNL"TSLMU]NPN]"QM"ZQOUL^"QL"QcURU[W"[S" cPUL^" \M" TRSMNP" [S" [ZN" [P\[Z+"2NPNK" U[" UM" UVXSP[QL[" [S" LS[N" [ZQ[" [ZN" ]ST\VNL[MH"TQXQTU[W"SY"cNUL^"VQ[NPUQRK"]S"LS["VQbN"[ZNV"nScdNT[UONH"l6VU[Z"9EE!K"<UbD<NWNP"9EEFm+" .^QULK" U[" UM" UL" [ZN" UL[NPQT[USL" cN[aNNL" VWMNRY" QM" Q" PNMNQPTZNP" QL]" [ZN"]ST\VNL[M"[ZQ["[ZN"PNM\R[M"SY"[ZN"QLQRWMUM"NVNP^N+""

06ACP5:=@!9@!9A=67@!

#L" [ZN" [ZNMUMK" ]ST\VNL[M" XRQW" Q" TNL[PQR" PSRN" UL" NQTZ" SY" [ZN" YS\P" QLQRWMNM" [ZQ["TSLM[U[\[N"TZQX[NPM"F"QL]"B+"#["ZQM"cNNL"XQP[UT\RQPRW"QXXQPNL["UL"[aS"SY"[ZNMNK"aZUTZ"QPN"ULMXUPN]"cW"QL]"ULYSPVN]"cW"QT[SPDLN[aSPb"[ZNSPW"lTY+"MNT[USLM"F*"QL]"B*m+".M"VNL[USLN]"QcSONK"QT[SPDLN[aSPb"[ZNSPW"UM"QL"QLQRW[UTQR"QXXPSQTZ"[ZQ["PQ[ZNP"Q[[NL]M"[S" [ZN" PNRQ[USLMZUXM" [ZQ[" YSPVM"Q"XZNLSVNLSLK" [ZQL" [S" U[M" UL[PULMUT"M\cM[QLTN"lN+^+"*QRRSL"!A,BK"5Q[S\P"!AAAK".bPUTZ"!AA?m+"2NPNK"U["UM"[Z\M"UL"[ZN"PNRQ[USLQR"MN[\X"[S"aZUTZ" [ZNW" PNYNPK" [ZQ[" [ZN"]ST\VNL[M"^N[" [ZNUP" M[PNL^[Z" QL]" [ZNUP" QcURU[W" [S" qQT[r+"4PUSP"S\[RULNM"[ZUM"XSUL["QM"Q"LNN]"[S"qPNTS^LU_N"[ZN"h\QRU[W"SY"]ST\VNL[M"QM"[ZUL^M"k"QM" [ZUL^M" [ZQ["TQL"QT["cQTb"SL"[ZNUP"TPNQ[SPM"k"ONPW"V\TZ"QM"(P+"=PQLbNLM[NULHM"VSLM[NP" MS\^Z[" [S" QT[" cQTb" SL" ZUM" TPNQ[SP+" #L]NN]K" SLN" UL[NPNM[UL^" YNQ[\PN" SY"]ST\VNL[M"UL"QT[USL"UM"[ZNUP"[NL]NLTW"[S"N`ZUcU["aZQ["aN"VU^Z["TQRR"M\TZ"nVSLM[NPDRUbNH" h\QRU[UNMr" l4PUSP" 9EE;1" ??m+" 6ZN" PNVQPbM" [ZQ[" ]ST\VNL[M" QPN" LS[" SLRW"XPS]\TN]" UL" MSTUQR" TSL[N`[MK" [ZNW" QRMS" TSL[PUc\[N" [S" /0'&(1$" M\TZ" TSL[N`[M+" %ZUM"ULYR\NL[UQR"h\QRU[W"TQLLS["cN"TSL[PSRRN]+"(ST\VNL[M"TQL"nM[PUbN"cQTbH"UL"[ZN"MNLMN"[ZQ["[ZNUP"VQ[NPUQR"TSLM[U[\[USL"TSL[PUc\[NM"[S"ULYR\NLTN"]UYYNPNL["XRQWNPM"[ZNW"^N["UL"[S\TZ" aU[Z+" #[" UM" Q" V\[\QR" PNRQ[USLMZUXK" QL]" U[" UM" [ZUM" PNTUXPSTQR" h\QRU[W" [ZQ["TZQPQT[NPU_NM"[ZN"aQW"[ZQ["]ST\VNL[M"ZQON"cNNL"\MN]"QM"Q"VN[ZS]+""'

'W9P?>5@!G76P!=45!A9@5@!

#L" [ZN" QLQRWMNM" SY" [ZN" %SaL" 2QRR" XPSdNT[K" #" URR\M[PQ[N" QL]" ]UMT\MM" ZSa"]ST\VNL[M1" [N`[M" QM" aNRR" QM" MbN[TZNM" QL]" ]UQ^PQVMK" VU^Z[" cN" MQU]" [S" cN" QT[UON"XQP[UTUXQL[M" UL" [ZN" ]NMU^L" ]NONRSXVNL[M+" #L" [ZN" XPSdNT[K" ]ST\VNL[" VQ[NPUQR"M\XXSP[N]" Q" XQP[UT\RQP" OUNaXSUL[" [ZQ[" PNM\R[N]" UL" Q" PN]NMU^L" SY" Q" XQP[UT\RQP"QPTZU[NT[\PQR"ScdNT[1"QL"NL[PQLTN"TS\L[NP+"2NPNK" [ZN" [NPV"!'/$..$++2"aQM"\MN]"QM"QL" NXU[SVN" SY" ZSa" [ZN" SP^QLU_Q[USL" QUVN]" [S" cN" MNNL" cW" [ZN" X\cRUTK" QL]" [ZN"

?9""

]ST\VNL["VQ[NPUQR"lULU[UQR"XPSdNT["S\[RULNMK"h\NM[USLM"XSMN]"UL"aSPbMZSXMK"MXNNTZNM"QL]" S[ZNP" [WXNM" SY" XPNMNL[Q[USLMm" aQM" \MN]" QM" QL" QP^\VNL[" [S" TSLMSRU]Q[N" [ZUM"XNPMXNT[UON+" %ZN" ]ST\VNL[M" cNTQVN" QL" QT[UON" XQP[" UL" SLN" ONPMUSL" [ZN"SP^QLU_Q[USLHM" U]NL[U[W" ]NONRSXVNL[K" LS[" SLRW" [ZPS\^Z" aPU[[NL" [N`[MK" c\[" QRMS"[ZPS\^Z" MbN[TZNM" QL]" ]UQ^PQVM+" 2NPNK" [ZN" ]ST\VNL[M" aNPN" \MN]" [S" N`XRQUL" Q"XS[NL[UQR" SP^QLU_Q[USLQR" TZQL^NK" aZUTZ" VU^Z[" cN" aZQ[" 4PUSP" PNYNPM" [S" QM" [ZN"qHVSLM[NPDRUbNH"h\QRU[Wr"[ZQ["TZQPQT[NPU_NM"]ST\VNL[M"l4PUSP"9EE;1"??m+"""#L" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" ]ST\VNL[M" XPS]\TN]" cW" [ZN" NL]" \MNPM" UL" [ZN"

XPSdNT[HM" ULU[UQR" XQP[UTUXQ[USL" aSPbMZSXM" MNNVN]" [S" bNNX" PNQXXNQPUL^" [ZPS\^ZS\["[ZN"]NMU^L"XPSTNMM+"2NPNK"MbN[TZNMK"]UQ^PQVM"QL]"VS]NRM"[ZQ["UL"OQPUS\M"aQWM"[SSb"[ZN" MZQXN" SY" Q" ZNRU`"aNPN" \MN]" QM" [ZN" XSUL[" SY" PNYNPNLTNK" YPSV"aZUTZ" [ZN" ]NMU^L"PNXPNMNL[Q[USL" XPS^PNMMN]+" -\[" [ZN" ULU[UQR" MbN[TZNM" QRMS" TSL[QULN]" aPU[[NL" [N`[MK"aZUTZ" M\cMNh\NL[RW" [\PLN]" S\[" [S" [PQTN" NONL" Y\P[ZNP" cQTb" [ZQL" [ZN" ULU[UQR"aSPbMZSXM+" &NXNQ[N]" [NPVM" UL" [ZNMN" [N`[M" aNPN" YSP" N`QVXRN" !,."$0+$1",'.2K"!610'++2K"!7$$",.-+2K"!@*':2K"QL]"VSPN+"#L"[ZN"TSL[N`[K"[ZNW"PNYNPPN]"[S"U]NQM"[S"ULYSPV" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" -\[" QM" U[" [\PLN]" S\[" UL" [ZN" XPSTNMM" SY"QLQRWMUMK"[ZNW"VU^Z["QRMS"cN"MNNL"QM"Q]QX[Q[USLM"SY"[ZN"YUPVHM"M[PQ[N^UT"QMXUPQ[USLM"S\[RULN]" UL" NQPRUNP" XPSdNT[" ]NMTPUX[USLMK" UL" aZUTZ" TSLTNX[M" RUbN" !5.':*$&-$%+#60,.-2" QL]" !10'++% &,+1,/*,.608% 1'**6)'06",'.2" aNPN" XPSVULNL[+" 2NPNK" [ZN"]ST\VNL[M"cNTSVN"QL"QT[UON"XQP[LNP"UL"[ZN"]NONRSXVNL["SY"TNP[QUL"TSLTNX[M1"YPSV"QL" QcM[PQT[" SP^QLU_Q[USLQR" QMXUPQ[USL" UL" [ZN" aPU[[NL" ]ST\VNL[K" [S" [ZN" L\VNPS\M"MbN[TZNM"QL]"]UQ^PQVM"[S"PNXPNMNL["[ZN"QPTZU[NT[\PQR"YSPV"k"QL]"cQTb+"""4PUSP"TQX[\PNM"U["RUbN"[ZUM1"q2Sa"]ST\VNL[M"XRQTN"[ZUL^MK"ZSa"[ZNW"VQbN"[ZUL^M"

OUMUcRNK"QL]"ZSa"M\TZ"MWM[NVM"SY"OUMUcURU[W"QPN"[UN]"UL[S"MSTUQR"XPQT[UTNM"TQL"YSPV"Q"^\U]UL^"[ZNVN"YSP"MSTUQR"PNMNQPTZ+"spt"$Q[\PQRRWK"UL"SP]NP"[S"VQbN"[ZUL^M"OUMUcRNK"Z\VQL" QT[SPM" QL]" Q^NL[M" ZQON" [S" [PQLMRQ[N" U]NQM" UL[S" UVQ^NM" QL]" [PQTNM+" 6\TZ"XPSTNMMNM"SY"[PQLMRQ[USLM"QPN"OQPUS\MK"QL]"aZQ["UM"M\XXSMN]RW"[ZN"nMQVNH"ScdNT["TQL"cN" [PQLMRQ[N]" l6NPPNM" !AAFm" UL[S" Q" L\VcNP" SY" QR[NPLQ[UON" YSPVM+" 2Sa" [ZN" YSPVM"PNRQ[N" [S" [ZN"S[ZNP"QL]"ZSa" [ZNW"QT["cQTb"SL" [ZNUP"TPNQ[SPM" UMK"ZSaNONPK"QRaQWM"Q"VQ[[NP"SXNL" [S"NVXUPUTQR" PNMNQPTZr" l4PUSP"9EE;1",Em+"(ST\VNL[M"QPN" MU[\Q[N]K"LS["YU`Q[N]"\LU[M+"&Q[ZNP"[ZQL"ZQOUL^"Q"XPN]N[NPVULN]"VNQLUL^"Q[[QTZN]"[S"[ZNVK"[ZNW"PNYNP"[S"[ZN"ULM[U[\[USLQR"TSL[N`["UL[S"aZUTZ"[ZNW"STT\P+""""

?C""

$AA5@@!=6!M6ACP5:=!P9=57;9>!

."M\cM[QL[UQR"L\VcNP"SY"]ST\VNL[M"ZQON"cNNL"XPNMNL[" QL]"QOQURQcRN" YPSV" [ZN"cN^ULLUL^K"QL]"QRMS"M\cMNh\NL[RW"QTT\V\RQ[N]K"UL"cS[Z"NVXUPUTQR"XPSdNT[M1"aPU[[NL"LS[NM" QL]" M[Q[NVNL[Mg" NMMQWMg" VQLUYNM[Mg" XPUL[N]" QL]ISP" NRNT[PSLUT" ONPMUSLM" SY"4SaNP4SUL[" XPNMNL[Q[USLMg" MbN[TZNMg" ]UQ^PQVMg" XUT[S^PQVMg" cSSbRN[MK" QL]" VSPN+"$S[" PNQRRW" QaQPN" SY" aZQ[" PSRN" [ZNMN" aS\R]" XRQW" UL" [ZN" M\cMNh\NL[" XPSTNMM" SY"QLQRWMUMK"UY"QLWK"#"TSL[UL\N]"[S"XUTb"\X"QL]ISP"QMb"YSP"Q"TSXW"SY"[ZN"]ST\VNL[M"[ZQ["]NONRSXN]+" #L" [ZN"%SaL"2QRR"XPSdNT[" #"QRMS"PNh\NM[N]" [ZN"N`UM[UL^"]ST\VNL[M" [ZQ["aNPN"XPS]\TN]"XPUSP"[S"VW"NL^Q^NVNL[+"""%ZN" ]ST\VNL["VQ[NPUQR"aNPN" cPS\^Z[" UL[S" B" RQP^N" YSR]NPMK" C" YSP" NQTZ" XPSdNT[K"

QL]" TQ[N^SPU_N]" cW" cQMUT" ZNQ]RULNM" M\TZ" QM" q-QTb^PS\L]"VQ[NPUQR" YSP" [ZN" %SaL"2QRRr" QL]" q%SSRM" QL]" TSLTNX[MK" 6U^LQR" .PbU[Nb[NPr+" %ZN" ]ST\VNL["VQ[NPUQR" [Z\M"QTT\V\RQ[N]K" QL]" QR[ZS\^Z" VW" QT[\QR" UL[NPQT[USL" aU[Z" U[" VU^Z[" cN" MQU]" [S" ZQON"TSVN"RQ[NPK"#"N`XNT[N]"[ZN"VQ[NPUQR"[S"XRQW"Q"TNL[PQR"PSRN"UL"[ZN"QLQRWMUM"QRR"QRSL^+"#"YS\L]"[ZUM" RUbNRWK"QM"]ST\VNL[M"aNPN"QT[UONRW"ULOSRON]"UL"[ZN"XPS^PNMMUSL"SY"cS[Z"XPSdNT[M+".RMSK" [ZNPN"aQM"Q" M\cM[QL[UQR"\MN" SY" MbN[TZNM" UL" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMMK" SP" SY" cSQP]" ^QVNMK" XUT[S^PQVM" QL]" S[ZNP" [ZUL^M" ULOSRON]" UL" [ZN"XQP[UTUXQ[USL" QT[UOU[UNM+" q4NSXRN" [ZULb" aU[Z" [ZUL^M" QM" aNRR" QM" aU[Z" aSP]Mr" 4PUSP"XSUL[M"S\[K"PNYNPPUL^"[S"[ZN"M\cM[QL[UQR"UVXQT["[ZQ["QP[UYQT[M"ZQON"SL"[ZN"aQW"NONL[M"YSPV"QL]"TZQL^N" UL" [ZN" PNQRV"SY" [ZN" MSTUQR" l4PUSP"9EE;1"??K"5Q[S\P"!A,BK"7NUTb"!AAFK"*SRRSXW"9EE;m+"=SP"QPTZU[NT[M"[ZUM"VU^Z["cN"XQP[UT\RQPRW"[P\NK"QM"[ZNUP"XPUVQPW"aQW" SY" XPSYNMMUSLQR" N`XPNMMUSL" UM" PNXPNMNL[N]" cW" MbN[TZUL^" QL]"VS]NRUL^K" PQ[ZNP"[ZQL" cW" MQWUL^" SP" aPU[UL^+% !3"4+% &,@@,1(*"% "'% $</*6,.% ,.% :'0&+2" QM" SLN" SY" [ZN"QPTZU[NT[M" ULOSRON]" UL" [ZN" %SaL"2QRR" XPSdNT[" PNVQPbMK" Q" XSUL[" [ZQ["aQM" PNXNQ[N]"VQLW"[UVNM"QTPSMM"[ZN"[aS"XPSdNT[M+"&Q[ZNPK"[ZNW"VQbN"L\VNPS\M"MbN[TZNM"YSP"[ZN"MZQXNM"[S"YUL]"[ZNUP"YSPVQ[K"QL]"SY[NL"]UMT\MM"[ZNMN"UL[NPLQRRW"QM"Q"VNQLM"[S"[NM["QL]"Y\P[ZNP" ULYSPV" [ZNMN+" #L" ZNP" ]UMT\MMUSL" SY" ZSa" XPSTNMMNM" SY" QPTZU[NT[\PQR" ]NMU^L"XPS^PNMMK" 8QLNOQ" QP^\NM" [ZQ[" qQPTZU[NT[M" ULOSRON" [ZNVMNRONM" UL" Q" TSVXPNZNLMUON"]UQRS^\N"aU[Z"VQ[NPUQRM"QL]"MZQXNMr"l8QLNOQ"9EEFm+""".M"aU[Z" [ZN" UL[NPOUNaMK"#"TSLM\R[N]"[ZN"]ST\VNL["VQ[NPUQR"aU[Z"VSPN"YST\M"QM"

[ZN" PNMNQPTZ" h\NM[USL" NVNP^N]" QL]" VW" QXXPSQTZ" cNTQVN" TRNQPNP+" 2NPNK" #"TQ[N^SPU_N]" [ZN"VQ[NPUQR" #" YS\L]" XQP[UT\RQPRW" TNL[PQR"aU[Z" PNYNPNLTN" [S" [ZN" M[SPUNM"[ZQ["NVNP^N]K"QL]"VQPbN]"UVXSP[QL["MNT[USLM"aU[Z"VW"WNRRSa"XNL+"

?;""

$2%&%8'+(+!*3&!*4%4&

&45!&6D:!#9>>!?76E5A=!FAGH!A49?=57!)!9:M!IJ!

.M"VNL[USLN]"QcSONK"VW" ULU[UQR" QL]"NM[QcRUMZUL^"VN[ZS]" UL"cS[Z"XPSdNT[M"aQM"XQP[UTUXQL[" ScMNPOQ[USL+" #L" [ZN" %SaL"2QRR" XPSdNT[K"VW" XSUL[" SY" ]NXQP[\PN"aQM" [S"M[\]W" 6U^LQR".PbU[Nb[NPK" [ZN" YUPV" SY" XPSTNMM" ]NMU^LNPM" ULOSRON]" UL" [ZN" TQMNK" QL]"[ZNUP"QXXPSQTZ"[S"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL+"""

%97=;A;?9:=!6R@57B9=;6:!;:!=45!&6D:!#9>>!?76E5A=!

#" XQP[SSb" UL" VSM[" SY" [ZN" ]NONRSXVNL[" VNN[UL^MK" UL" aZUTZ" XPSTNMM" ]NMU^LNPM"YPSV"6U^LQR".PbU[Nb[NP"XRQLLN]"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"QM"aNRR"QM""UL"VQLW"SY"[ZN" XPNXQPQ[USL" VNN[UL^M" cN[aNNL" 6U^LQR" .PbU[Nb[NP" QL]" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USL" VQLQ^NVNL[+" .RMSK" #" Q[[NL]N]" [ZN" YUPM[" QL]" MNTSL]" MNPUNM" SY"aSPbMZSXM"UL"[ZN"XPSdNT[+".M"[ZN"V\LUTUXQRU[W"UM"RSTQ[N]"S\[MU]N"SY"*SXNLZQ^NLK"#"[PQONRRN]" [S" [ZN" aSPbMZSX" ]NM[ULQ[USL" aU[Z" [ZN" [NQV" SY" XPSTNMM" ]NMU^LNPM" YPSV"6U^LQR".PbU[Nb[NP+"%ZNMN" [PUXM"^QON"VN"QL" ULMU^Z[" UL[S" [ZN" [NQVHM" TSLMU]NPQ[USLMK"XPUSP"[S"QL]"QY[NP"[ZN"aSPbMZSXM+""2SaNONPK" #"]U]"LS["XQP[QbN" UL" [ZN" [ZUP]"MNPUNM"SY"aSPbMZSXM" UL" [ZN"%SaL"2QRR"

XPSdNT[+"#L"[ZUM"XNPUS]"#"ZQ]"RNQON"SY"QcMNLTNK"]\N"[S"dQa"M\P^NPW"QL]"#"aQM"[ZNPNcW"QaQW"YPSV"[ZN"XPSdNT["YSP"B"VSL[ZM+"%ZUM"QcMNLTN"]NMNPONM"Q"MZSP["TSVVNL[1"#["aQM"Q"TP\TUQR"XNPUS]"SY"[ZN"XPSdNT[K"QM"U["PNXPNMNL[N]"Q"MNPUNM"SY"XQP[UTUXQ[USL"aSPbMZSXMK"[S" aZUTZ" [ZN" M[QYY" Q[" RQP^N" aQM" ULOU[N]" [S" XQP[QbN+" #" ZQON" PNQ]" [ZN"VQ[NPUQR" [ZQ["XPNXQPN]" [ZN"QT[UOU[UNM"QL]"QRMS" MSVN"SY" [ZN" [PQLMRQ[N]"S\[TSVNK"XPS]\TN]"cW" [ZN"XQP[UTUXQL[M" UL" [ZN" aSPbMZSXM+" #" ZQON" QRMS" cPS\^Z[" [ZN" NONL[" \X" UL" M\cMNh\NL["UL[NPOUNaM"aU[Z"NL]"\MNP"PNXPNMNL[Q[UONM+"6[URRK"[ZN"XNPMXNT[UON"YPSV"aZUTZ"#"QTTNMM"[ZUM" VQ[NPUQR" UM" RUbNRW" [S" cN" ]UYYNPNL[" [ZQL" ZQ]" #" cNNL" ]UPNT[RW" ULOSRON]" [ZPS\^Z"XQP[UTUXQL["ScMNPOQ[USL?+"<W"QLQRWMUM"ZQM"[Z\M"NVNP^N]"UL"[ZN"UL[NPQT[USL"cN[aNNL"[ZN" aPU[[NL" VQ[NPUQR" [ZQ[" aQM" XPS]\TN]" UL" [ZNMN" aSPbMZSXMK" [ZN" UL[NPOUNaM" #"M\cMNh\NL[RW"VQ]NK"[ZN"[ZNSPN[UTQR"TSLTNX[M"#"ZQON"QXXRUN]"[S"N`XRSPN"[ZNMN"UMM\NMK"QL]"VSPN+"

"""""""""""""""""""""""""""""""""""""""""""?"%ZUM"XQP[UT\RQP"XSUL["aURR"cN"]UMT\MMN]"UL"[ZN"QLQRWMUM"UL"MNT[USL"F*+"2NPNK"U["UM"LS["VW"SaL"MU[\Q[USL"[ZQ["YSPVM"[ZN"XSUL["SY"]NXQP[\PNK"c\["Q"M[QYY"VNVcNP"[ZQ["PN[\PLM"YPSV"Q"RNQON"SY"QcMNLTN+"

?F""

%ZN"YSRRSaUL^"QPN"[ZN"NONL[M"#"XQP[SSb"UL"QM"Q"XQP[UTUXQL[IScMNPOQL["UL"[ZN"%SaL"2QRR"XPSdNT[1"""!! =\RR"[UVN"XQP[UTUXQL["ScMNPOQ[USL"Q["6U^LQR".PbU[Nb[NP"YPSV"<QW"[ZPS\^Z"6NX[NVcNP"9EEF"!! 4QP[UTUXQ[USLIScMNPOQ[USL"UL"aSPbMZSX"MNPUNM"!"l9"aSPbMZSXM"UL"9EEFm"QL]"aSPbMZSX"MNPUNM"9"lC"

aSPbMZSXM"UL"9EEBm""!! 4QP[UTUXQL["ScMNPOQ[USL"UL"[aS"9DZS\P"XRNLQPW"VNN[UL^M"aU[Z"[ZN"Q]VULUM[PQ[USLHM"M[QYY"Q["RQP^N"UL"

$SONVcNP"9EE?"!! 4QP[UTUXQ[USLIScMNPOQ[USL" UL" VSM[" XPNXQPQ[USL" VNN[UL^M" [ZQ[" PN^QP]N]" [ZN" XPSdNT[K" UL" aZUTZ" [ZN"

V\LUTUXQRU[W"Q]VULUM[PQ[USLHM"VQLQ^NVNL["QL]"6U^LQR".PbU[Nb[NP"XQP[SSb"!! "4QP[UTUXQ[USLIScMNPOQ[USL"UL"VSM["XPNXQPQ[USL"VNN[UL^M"UL[NPLQRRW"UL"6U^LQR".PbU[Nb[NP"!! 'cMNPOQ[USL" SY" SLN" M[PQ[N^W" VNN[UL^" aU[Z" [SX" QL]" VU]]RN" VQLQ^NVNL[" UL" [ZN" V\LUTUXQRU[W"

Q]VULUM[PQ[USL%"!! 'TTQMUSLQR""!"]QW"OUMU[M"Q["6U^LQR".PbU[Nb[NP"aU[Z"ULOSRONVNL["UL"OQPUS\M"UL[NPLQR"VNN[UL^M"YPSV"

'T[ScNP"9EEF"SLaQP]M"!! 4QP[UTUXQ[USL"UL"6U^LQR".PbU[Nb[NP"*ZPUM[VQM"5\LTZ"UL"9EEB"!! #"ZQON"]SLN"[aS"UL[NPLQR"XPNMNL[Q[USLM"SY"VW"4Z("aSPb"Q["6U^LQR".PbU[Nb[NP""

.:=57B;5D@!;:!=45!&6D:!#9>>!?76E5A=!

#"ZQON"\L]NP[QbNL"9E"UL[NPOUNaM"aU[Z"M[QYY"YPSV"2URRNPe]"<\LUTUXQRU[W"lTRUNL[mK"6U^LQR".PbU[Nb[NP"lXPSTNMM"]NMU^LNPm"QL]"/2&".PbU[Nb[NP"lQPTZU[NT[mK"UL"[ZN"TS\PMN"SY" [ZN"%SaL"2QRR"XPSdNT[+"%ZN"UL[NPOUNaM"aNPN"\L]NP[QbNL"cN[aNNL"JQL\QPW"9EE?"QL]"(NTNVcNP"9EE,+".RR"UL[NPOUNaM"ZNR]"[ZN"]\PQ[USL"SY"!D!+F"ZS\PM+"%ZN"YSRRSaUL^"VQ[PU`" URR\M[PQ[NM" [ZN" L\VcNP" SY" UL[NPOUNaM" QL]" [ZN" XSMU[USLM" ZNR]" UL" [ZN" [ZPNN"SP^QLU_Q[USLM1"""*GXXOJ]N';SQGVGTHXGU^' 1QUOJ_GOMP'<QLQ^UL^"]UPNT[SP" C"6[QYY"VNVcNPK"]NXQP[VNL["VQLQ^NP" !"6[QYY"VNVcNPK"]NXQP[VNL["VQLQ^NP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"6[QYY"VNVcNP" !"""

?B""

5GIQHX'%J`GUO`UOJ' 1QUOJ_GOMP'4PSTNMM"]NMU^LNP"l<(K"QPTZU[NT[m" !"4PSTNMM"]NMU^LNP"lQPTZU[NT[m" !"4PSTNMM"]NMU^LNP"lQPTZU[NT[m" !"4PSTNMM"]NMU^LNP"lQPTZU[NT[m" !""D*"'%J`GUO`UOJ' 1QUOJ_GOMP'.PTZU[NT["lXQP[LNPm" !".PTZU[NT[" !".PTZU[NT[" !"

"

!

06ACP5:=!P9=57;9>!9AACPC>9=5M!;:!=45!&6D:!#9>>!?76E5A=!

!! 4PNXQPQ[USL"XQXNPM"YSP"[ZN"<\LUTUXQRU[W"VNP^NPK"MSVN"UL[NPLQR"aSPbUL^"XQXNPMK"MSVN"QOQURQcRN"YSP"[ZN"M[QYY"QL]"MSVN"YSP"[ZN"^NLNPQR"X\cRUT"OUQ"[ZN"aNcMU[N"laaa+ZURRNPS]+]bm"

!! 6[PQ[N^W"XQXNPIOUMUSL"XQXNP1"q(N["0S]N".PcNd]NrK"]NONRSXN]"cW"[ZN"[SX"QL]"VU]]RN"VQLQ^NVNL[K"QL]"VQ]N"SYYUTUQR"SL"[ZN"aNcMU[N"

!! %ZN"QPTZU[NT[\PQR"TSVXN[U[USL"cPUNY"!! %ZN"F"ULTSVUL^"XPSXSMQRM"UL"[ZN"QPTZU[NT[\PQR"TSVXN[U[USL"!! %ZN"QMMNMMVNL["TSVVU[[NNHM"TSVVNL[M"[S"[ZN"XPSXSMQRM"!! .RR" VUL\[NM" YPSV" VNN[UL^M" cN[aNNL" [ZN" XPSTNMM" ]NMU^LNP" l6U^LQR" .PbU[Nb[NPm" QL]" [ZN" TRUNL["

l2URRNPe]"<\LUTUXQRU[Wm"!! %ZN"PNh\UPNVNL["QLQRWMUM"VQ]N"cW"6U^LQR".PbU[Nb[NP"SL"[ZN"cQMUM"SY"[ZN"YUPM["MNPUNM"SY"aSPbMZSXM"!! .RR" 4SaNP4SUL[" XPNMNL[Q[USLM" YPSV" 6U^LQR" .PbU[Nb[NP" [ZQ[" PN^QP]N]" [ZN" aSPbMZSXM" QL]"

PNh\UPNVNL["QLQRWMUM""!! ."YNa"MbN[TZNM"YPSV"[ZN"XPSdNT["#"XQP[UT\RQPRW"QMbN]"YSP""!! <UL\[NIcPUNY"SL"[ZN"TSL]U[USLM"YSP"[ZN"*U[U_NL"6NPOUTN"*NL[NP"

'

&45!K;L9M6!#6C@5!?76E5A=!FAGH!A49?=57@!)!9:M!NJ!

.RMS" UL" .PbU[NVQ" XQP[UTUXQL[" ScMNPOQ[USL" YSPVN]" [ZN" SONPQPTZUL^" VN[ZS]" #"QXXRUN]" UL" SP]NP" [S" M[\]W" [ZN"<UbQ]S" 2S\MN" XPSdNT[+" -QMN]" SL" VW" RSL^U[\]ULQR"NL^Q^NVNL["aU[Z"[ZN"YUPVK" #"XQP[SSb"UL"VSM["]NONRSXVNL["VNN[UL^M"[ZQ["PN^QP]N]"[ZN" XPSdNT[1" XPNXQPQ[USL" VNN[UL^M" cN[aNNL" [ZN" XPSTNMM" ]NMU^LNPMK" ]NMU^L"]NONRSXVNL[" VNN[UL^M" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPMK" XPNMNL[Q[USL"VNN[UL^M"aU[Z".PbU[NVQHM"^PS\X"SY"XQP[LNPMK"QL]"VSPN+"""

??""

%97=;A;?9:=!6R@57B9=;6:!;:!$7L;=5P9[=45!K;L9M6!#6C@5!

?76E5A=!

#"ZQON"XQP[UTUXQ[N]" UL"VSM["SY" [ZN"QT[UOU[UNM" [ZQ[" PNXPNMNL[N]" [ZN" YUPM["XZQMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[1""!! 4PNXQPQ[USL"VNN[UL^M"YSP"[ZN"GURLU\M"aSPbMZSXM"!! .PbU[NVQHM";"]QW"[NQVc\UR]UL^"[PUX"[S"GURLU\MK"5U[Z\QLUQ"UL"'T[ScNP"9EEF+""!! ,"VSL[ZM"SY"Y\RR"[UVN"YUNR]aSPbK"UL"aZUTZ"#"NL^Q^N]"aU[Z"[ZN"]NMU^L"[NQV"SY"[ZN"<UbQ]S"2S\MN"

XPSdNT["SL"Q"]QURW"cQMUM" l$SONVcNP"9EEF"k"J\RW"9EEBm+"(\PUL^" [ZUM" [UVNK" #"aQM" ULOSRON]" UL" [ZN"YSRRSaUL^"NONL[M1"

"!! 4PNXQPQ[USL" YSP" aSPbMZSXM" QL]" XQP[UTUXQ[USL" QT[UOU[UNM" YSP" [ZN" <UbQ]S" 2S\MN"

XPSdNT["l$SONVcNP"[ZPS\^Z"(NTNVcNP"9EEFm"!! %ZN"<UbQ]S"2S\MN"]NMU^L"[NQV"Q["aSPb"UL"[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT[HM"]NMU^L"

XPSTNMM"lJQL\QPW"[ZPS\^Z"J\LN"9EEBm"!! 4PSdNT["VNN[UL^M"[ZQ["PN^QP]N]"[ZN"<UbQ]S"2S\MN"XPSdNT["laU[Z"N+^+"[ZN"^PS\X"SY"

ULONM[SPMK"[ZN"N`[NPLQR"Q]OUMSPMK"XS[NL[UQR"TSRRQcSPQ[USL"XQP[LNPMm"!! <SL[ZRW"M[PQ[N^W"VNN[UL^M"aU[Z"[SX"VQLQ^NVNL["QL]"VU]]RN"VQLQ^NVNL["!! <SL[ZRW"XRNLQPW"MNMMUSL"aU[Z" [ZN"YUPV"Q[" RQP^N"-N[aNNL"'T[ScNP"9EEF"QL]"J\RW"

9EEB""

!! .Y[NP" [ZN" YUNR]aSPb1"'TTQMUSLQR" XQP[UTUXQL[" ScMNPOQ[USLQR" OUMU[M" aZNL" #" NL^Q^N" UL" [ZN"VSL[ZRW"M[PQ[N^W" VNN[UL^g" [ZN" VSL[ZRW" XRNLQPW" MNMMUSLK" QL]" [aS" UL[NPLQR" aSPbMZSXM" [ZQ[" PN^QP]N]" [ZN"MNTSL]"XZQMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT["

!! 4QP[UTUXQ[USL"UL".PbU[NVQHM"*ZPUM[VQM"5\LTZ"UL"9EEF"QL]"9EEB"!! #"ZQON"]SLN"[aS"UL[NPLQR"XPNMNL[Q[USLM"SY"VW"4Z("aSPb"Q[".PbU[NVQ""

.:=57B;5D@!;:!$7L;=5P9[=45!K;L9M6!#6C@5!?76E5A=!

#"ZQON"\L]NP[QbNL"9E" UL[NPOUNaM"aU[Z"M[QYY" YPSV".PbU[NVQ+"=S\P"SY" [ZNMN" [SSb"XRQTN" UL" [ZN" ULU[UQR" XNPUS]" SY" VW" M[\]W" lcN[aNNL" $SONVcNP" 9EEF" QL]" =NcP\QPW"9EEBmK"QM"Q"VNQLM"[S"^UON"VN"Q"[ZSPS\^Z"UVXPNMMUSLK"LS["SLRW"SY"[ZN"YUPVK"c\["QRMS"SY" [ZN" YUNR]" SY" QPTZU[NT[\PQR" ]NMU^L" UL" (NLVQPb" Q[" [ZN" [UVN+" %ZN" PNM[" SY" [ZN"UL[NPOUNaM"aNPN" \L]NP[QbNL" QM" [ZN" XPSdNT[" XPS^PNMMN]K" cN[aNNL".\^\M[" 9EEB" QL]".XPUR"9EEA+".RR"UL[NPOUNaM"ZNR]"[ZN"]\PQ[USL"SY"!D!+F"ZS\PM+"%ZN"YSRRSaUL^"VQ[PU`"URR\M[PQ[NM"[ZN"L\VcNP"SY"UL[NPOUNaM"QL]"[ZN"XSMU[USLM"ZNR]"UL".PbU[NVQ1""

?,""

"%J`GUOKH' 1QUOJ_GOMP'<QLQ^UL^"]UPNT[SP"lXQP[LNPK"QPTZU[NT[m" C".PTZU[NT["l]NXQP[VNL["VQLQ^NPm" C".PTZU[NT["lXQP[LNPm" !".PTZU[NT[" !".PTZU[NT[" !".PTZU[NT[" !".PTZU[NT[" !"9"QPTZU[NT[M"lUL"^PS\X"UL[NPOUNam" !"9"QPTZU[NT[M"lUL"^PS\X"UL[NPOUNam" !"4PSTNMM"]NMU^LNP"l]NX[+"VQLQ^NPK"QPTZU[NT[m" C"4PSTNMM"]NMU^LNP"lQL[ZPSXSRS^UM[m" !"4PSTNMM"]NMU^LNP"lQPTZU[NT[m" !"*SVV\LUTQ[USL"VQLQ^NP" !"2&"M[QYY"VNVcNP" !"

"

!

06ACP5:=!P9=57;9>!;:!$7L;=5P9[=45!K;L9M6!#6C@5!?76E5A=!

.M" YSP" [ZN" ]ST\VNL["VQ[NPUQRK" [ZN"<UbQ]S"2S\MN" XPSdNT[" QL]" Q]dQTNL[" NONL[M"[ZQ[" [SSb" XRQTN" UL" .PbU[NVQ" ]\PUL^" [ZN" XNPUS]" XPS]\TN]" M\cM[QL[UQR" ]ST\VNL["VQ[NPUQR+"#"ZQON"TQ[N^SPU_N]"[ZN"]ST\VNL[M"UL"[ZN"YSRRSaUL^"aQW1"""

06ACP5:=@!;:!$7L;=5P9!9=!>9785*!\9AL876C:M!P9=57;9>!9:M!

;:=57:9>!@=79=58Q!?9?57@*!

!! .PbU[NVQHM"/LSaRN]^N"&NXSP["9EE;D9EEF"l.PbU[NVQ"9EEFm""!! aaa+QPbU[NVQ+]b" UL" PN^QP]M" [S" ZUM[SPUT" S\[RULNg" SP^QLU_Q[USLQR" QL]" ^NS^PQXZUTQR" M[P\T[\PNg"

XPSYNMMUSLQR"XPSYURNK"QL]"M[QYY""!! %ZN"VQLQ^UL^"]UPNT[SPHM"<QM[NP"%ZNMUM"YPSV"*-6"9EE;"l=NR][ZQ\M"9EE;m"!! 3`[NPLQR"\MNP"M\PONW"l2N]N^QQP]"JeP^NLMNL"9EEFm""!! #L[NPLQR" M[PQ[N^W" ]ST\VNL[M" lXPNXQPQ[USL" XQXNPM" QL]" VUL\[NMm" ]NONRSXN]" UL" [ZN" XNPUS]" YPSV"

'T[ScNP"9EEF"k"JQL\QPW"9EE?""!! %ZN" VQLQ^UL^" ]UPNT[SPHM" 4SaNP4SUL[" XPNMNL[Q[USL" YPSV" ZUM" ULQ\^\PQ[USL" MXNNTZ" QM" Q]d\LT["

XPSYNMMSP"Q[".QPZ\M"6TZSSR"SY".PTZU[NT[\PNK"9EEB""

?A""

06ACP5:=@!?76MCA5M!;:!=45!K;L9M6!#6C@5!?76E5A=*!

!! 4PNXQPQ[USL"VQ[NPUQR"YSP"[ZN"GURLU\M"aSPbMZSXM"lVUL\[NM"YPSV"VNN[UL^MK"XPS^PQV"QL]"aSPbMZSX"VQ[NPUQRm"

!! &NM\R[M" YPSV" [ZN" GURLU\M" aSPbMZSXM1" XSM[NPMK" XZS[SMK" MbN[TZNMK" MZSP[NP" NMMQWM" QL]" aPU[[NL"]NMTPUX[USLM"

!! %aS"NMMQWM"YPSV"[ZN"<QLQ^UL^"]UPNT[SP"SL"n[ZN"M[Q[N"SY"[ZN"YUPVH"QL]"U[M"YSP[ZTSVUL^"TZQRRNL^NM""!! .RR"]ST\VNL[M"[ZQ["PN^QP]N]"[ZN"]NONRSXVNL["SY"[ZN"<UbQ]S"2S\MN"XPSdNT["aNPN"VQ]N"QOQURQcRN"

[S" VN" ]\PUL^" VW" YUNR]aSPb" l$SONVcNP" 9EEF" k" J\RW" 9EEBm+" #" QMMNVcRN]" [ZUM" [ZPS\^Z" VW"XQP[UTUXQ[USL" UL" [ZN" NONL[M" SP" [ZPS\^Z" M\cMNh\NL[" PNh\UPNVNL[" ULh\UPW1" MbN[TZNMK" NMMQWMK"4SaNP4SUL["XPNMNL[Q[USLMK"cSQP]"^QVNMK"QL]"S[ZNP"aSPbMZSX"VQ[NPUQRK"VUL\[NM"YPSV"VNN[UL^M"QL]"VSPN+".Y[NP"[ZUM"]Q[NK"#"PNTNUON]"V\TZ"VQ[NPUQR"QcS\["[ZN"]NONRSXVNL["SY"[ZN"XPSdNT["aZURN"M[URR"UL"[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT[+"7ZNL"[ZN"]NMU^L"[NQV"TZQL^N]"QL]"LNa"XNSXRN"aNPN"X\["UL"TZQP^NK"[ZN"VQ[NPUQR"TNQMN]"[S"cN"YSPaQP]N]"MXSL[QLNS\MRWK"c\["#"TS\R]"NQMURW"PN[\PL"[S"[ZN"YUPV"YSP"VSPN"ULYSPVQ[USL"SL"XQP[UT\RQP"TQMNMK"VNN[UL^MK"NONL[M"QL]"VSPN+"

"

%$2+!4&*#,&=*3+,+$6&

%ZN"VN[ZS]SRS^UTQR"QXXPSQTZ"#"ZQON"[QbNL"UL"[ZN"M[\]W"ZQM"LS["QUVN]"[S"Sc[QUL"Q" [P\N" XUT[\PN" SY" [ZN" TSVXRN`" XZNLSVNLQ" \L]NP" M[\]W+" #" ZQON" XPSOU]N]" Q"VUTPSDM[\]W" SY" [aS" NVXUPUTQR" XPSdNT[MK" UL" aZUTZ" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" Q"VN[ZS]SRS^UTQR"QXXPSQTZ"[S"ULYSPV"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"ZQM"YSPVN]"QL"UVXSP[QL[" XQP[+"<W" QXXPSQTZ" ZQM" cNNL" cQMN]" SL" Q" TSLM[P\T[USLUM[" XNPMXNT[UONK" UL"aZUTZ"[ZN"NVXUPUTQR"VQ[NPUQR"VU^Z["cN"MQU]"[S"ZQON"cNNL"XPS]\TN]"UL"[ZN"UL[NPQT[USL"cN[aNNL" [ZN" NVXUPUTQR" NONL[M" QL]" VW" XQP[UTUXQ[USL" QM" Q" PNMNQPTZNP+" #L" [NPVM" SY"N[ZUTMK" [ZNPN"QPN" Q" YNa"TSL]U[USLM" [ZQ[" #"ZQON"QUVN]" [S"VNN[" UL"SP]NP" [S"bNNX" [ZN"M[\]W"PU^SPS\M+"""=UPM[K"#"ZQON"QUVN]"[S"MNXQPQ[N"[ZN"XPSTNMM"SY"QLQRWMUM"YPSV"[ZN"QT[\QR"NLTS\L[NP"

aU[Z"[ZN"YUNR]"l6URONPVQL"!AACm+"<W"YUNR]"LS[NM"ZQON"VQULRW"cNNL"]NMTPUX[UONK"QL]"aZNL" #" ZQON" M[Q[N]"VW" SXULUSL" SP" UVXPNMMUSLK" #" ZQON"VQPbN]" [ZUM" TRNQPRW" UL" [ZN"LS[NM+"%ZN"XSUL["VU^Z["cN"MQU]"[S"VUMVQ[TZ"[ZN"TSLM[P\T[USLUM["U]NQ"SY"[ZN"NVXUPUTQR"VQ[NPUQR"[S"cN"^NLNPQ[N]"QTTSP]UL^RW"QL]"[Z\M"cN"MU[\Q[N]K"c\["U["UM"M[URR"UVXSP[QL["UL"SP]NP"LS["[S"XPN]N[NPVULN"[ZN"QLQRW[UTQR"PNM\R["lN+^+"<UbD<NWNP"9EEA"YSP[ZTSVUL^m+"6NTSL]K"#"ZQON"\MN]"VN[ZS]"TSVcULQ[USL"UL"SP]NP"YSP"[ZN"VN[ZS]M"[S"TZQRRNL^N"QL]"M\XXSP["NQTZ"S[ZNPK"QL]" [ZNPNcW" [S"SYYNP"Q" PUTZ"VQ[NPUQRK" YPSV"aZUTZ"#"TS\R]"cQMN"

,E""

[ZN"QLQRWMNM+"%ZUP]K"#"ZQON"Q[[NVX[N]"[S"MNT\PN"[PQLMXQPNLTW"[ZPS\^ZS\["[ZN"[N`[K"UL"[NPVM" SY" VW" NL^Q^NVNL[" UL" [ZN" YUNR]K" [ZN" aQW" [ZQ[" [ZN" NVXUPUTQR" VQ[NPUQR" ZQM"QTT\V\RQ[N]K"QL]"[ZN"aQW"[ZN"QLQRWMUM"ZQM"M\cMNh\NL[RW"cNNL"\L]NP[QbNL+"=S\P[ZK"#"ZQON"Q[[NVX[N]"[S"VQbN"VW"QXXPSQTZ"MWM[NVQ[UTK"aU[Z"PNYNPNLTN"[S"[ZN"XPS]\T[USL"QL]"ZQL]RUL^"SY"[ZN"YUNR]"LS[NMg"[ZN"UL[NPOUNaMK"QL]"[ZN"M\cMNh\NL["QLQRWMUM"SY"[ZN"ULOSRON]"]ST\VNL[M+"=UY[ZK"VW"NVXUPUTQR"VQ[NPUQR"TQL"cN"MQU]"[S"cN"M\cM[QL[UQRK"QL]"#"ZQON" [PUN]" [S"\MN" U[" QT[UONRW" UL" [ZN" [ZNMUM+"-W"\MUL^"VQLW"h\S[Q[USLM" YPSV" YUNR]"LS[NMK" UL[NPOUNaM" QL]" ]ST\VNL[MK" #" ZQON" [PUN]" [S" VQbN" [ZN" [ZNMUM" Q" aSP[ZW"PNXPNMNL[Q[UON"SY"[ZN"NVXUPUTQR"NONL[M"k"QL]"[Z\M"QRMS"SY"MSVN"SY"[ZN"QMXNT[M"[ZQ["U["QUVM"[S"Q]]PNMM+""=ULQRRWK" U[" MZS\R]" cN" LS[N]" [ZQ[" [ZN" M[\]W" VQW" cN" TSLMU]NPN]" UL[NPNM[UL^" QL]"

UVXSP[QL[K" UL" [ZN"MNLMN" [ZQ[" U[" PNYRNT[M"Q"TSVXRN`"SY" UMM\NM" [ZQ["QXXNQPM" [S"PNh\UPN"ULTPNQMUL^" Q[[NL[USL" SL" Q" MSTUN[QR" RNONRK" c\["aZNPN" PNMNQPTZ" ZU[ZNP[S" MNNVM" [S" cN"MTQPTN+" .M" #" ZQON" ]NMTPUcN]" UL" MNT[USL" 9.K" [ZN" QPNQ" SY" n6XQTN" UL" SP^QLU_Q[USL"M[\]UNMH"ZQM"VN["^PSaUL^"UL[NPNM["UL"[ZN"PNMNQPTZ"TSVV\LU[WK"c\["U["MNNVM"[S"RQTb"NVXUPUTQR"M[\]UNM"[ZQ["]NMTPUcN"ZSa"[ZN"TSVXRN`"SY"UMM\NM"UL"h\NM[USL"TQL"cN"MQU]"[S"UL[NPMNT[+""" "

,!""

"#$%&'(!]*!&#'!$("#.&'"&!

%(+Y'22.+-*!%$2&!$-0!Y1&1('!

"#$33'-,'2!

"""

+#$(",-!$+"#&

." TRSMNP" RULb" cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM"TSL[QULM" Q" L\VcNP" SY" TZQRRNL^NM" YSP" [ZN" XQP[UNM" ULOSRON]" UL" [ZN" RULb1" [ZN" TRUNL["SP^QLU_Q[USL" lVQLQ^NP"QL]"NL]"\MNP" PNXPNMNL[Q[UONmK" [ZN"XPSTNMM"]NMU^LNP"QL]" [ZN"QPTZU[NT[K"[S"VNL[USL"d\M["[ZSMN"UL"YST\M"UL"[ZUM"M[\]W+"7ZNL"U["MNNVM"UVXSP[QL["[S"U]NL[UYW"nTSLLNT[USLMHK"U["UM"cNTQ\MN"[ZNMN"VU^Z["MNPON"QM"UL[NPMNT[USLM"[ZQ["VQbN"U["XSMMUcRN"YSP"\M"[S"N`XRSPN"MSVN"SY"[ZN"TZQRRNL^NM"[ZQ["QPN"Q["M[QbN+"""%S"[ZN"VQLQ^NPK"aSPbMXQTN"QL]"QPTZU[NT[\PN"ZQON"[PQ]U[USLQRRW"cNNL"[PNQ[N]"QM"

ULYPQM[P\T[\PQR" QMXNT[M" SY" SP^QLU_Q[USLQR" RUYN+" %ZN" U]NQ" SY" ^UOUL^" MXQTN" Q" VSPN"M[PQ[N^UT"XSMU[USL"MNNVM"[S"cN"Q"PQ[ZNP"\LTZQP[N]"QPNQK"UL"aZUTZ"[ZN"c\UR]UL^"TQL"cN"MNNL" QM" Q" ]WLQVUT" \LU[" [S" M\XXSP[" XPSTNMMNM" SY" TZQL^N+" .R[ZS\^Z" ULTPNQMN]"ULOSRONVNL[" SY" M[QYY" UL" M\TZ" M[PQ[N^UT" XPSTNMMNM" ZQM" ^PQ]\QRRW" NM[QcRUMZN]"aU[ZUL"VQLQ^NVNL["SONP" [ZN"WNQPMK" [ZN" MXQ[UQR" TSL[N`[" PNXPNMNL[M" QL"QXXPSQTZK" [S"aZUTZ"TSL[NVXSPQPW" VQLQ^NPM" QPN" \LQTT\M[SVN]+" %ZN" NL]" \MNPM" VU^Z[" cN" TSLMU]NPN]"N`XNP[M"UL"[ZNUP"]QURW"XPQT[UTN"QL]"[ZN"aQW"[ZQ["U["T\PPNL[RW"PNRQ[NM"[S"MXQ[UQR"YQT[SPM+"-\[" [ZNW"QPN"LQ[\PQRRW" U^LSPQL["SY" [ZN"QT[\QR"TSVXRN`U[W" ULOSRON]" UL"QPTZU[NT[\PQR"YNQ[\PNM+" %ZQ[" UM" aZW" aN" ZUPN" XPSYNMMUSLQR" QPTZU[NT[M" aZNL" aN" XRQL" M\cM[QL[UQR"MXQ[UQR"TZQL^NM"UL"S\P"MXQ[UQR"NLOUPSLVNL[M+"""

,9""

=SP"[ZN"QPTZU[NT[K"[ZN"XS[NL[UQR"RULb"[S"[ZN"SP^QLU_Q[USLQR"]NMU^L"XPSTNMM"QL]"[ZN"TRSMNP" PNRQ[USLMZUX"aU[Z" [ZN" TRUNL[" QM" Q" nTSVXS\L]"cS]W"SY" \MNPMH" lTY+" TZQX[NP" !m"TSL[QUL"MNONPQR"MU^LUYUTQL["TZQRRNL^NM+"#Y"[ZN"[aS"]NMU^L"XPSTNMMNM"QPN"[QbUL^"XRQTN"UL"Q"XQPQRRNR"M[P\T[\PNK"aN"VU^Z["MQW"[ZQ["[ZN"TRUNL["aURR"PNXPNMNL["nQ"VSOUL^"[QP^N[H"[S"[ZN"QPTZU[NT[K"]\N"[S"[ZN"TZQL^NM"[ZQ["[ZN"SP^QLU_Q[USL"aURR"^S"[ZPS\^Z"QM"Q"PNM\R["SY"[ZN"]NMU^L"XPSTNMM+"2NPNK"NL]"\MNP"XQP[UTUXQ[USL"TQL"MNPON"QM"Q"TNL[PQR"VN[ZS]"[S"SP^QLU_N"[ZUM"lV\[\QRm"XPSTNMM+"%ZN"QPTZU[NT["UM"ULN`XNPUNLTN]"QM"[S"ZQL]RN"[ZUM"[WXN"SY"]WLQVUT"ULX\["QM"Q"XS[NL[UQR"PNMS\PTN"[S"M\XXSP["[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"#"aURR"QRMS"PN[\PL"[S"[ZUM"XSUL["UL"MNT[USL"F-"QL]"UL"*ZQX[NP"?+""=ULQRRWK" [ZN"XPSTNMM"]NMU^LNP" PNXPNMNL[M" Q"LNa"XRQWNP" UL" [ZN"c\UR]UL^" UL]\M[PWK"

XQP[RW" cQMN]" SL" [ZN" ULN`XNPUNLTN" SY" [ZN" S[ZNP" XQP[UNM+" .UVUL^" [S" YQTURU[Q[N" QL]"M\XXSP[" [ZN" RULb" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNMK" [ZUM" PSRN" M[URR" MNNVM" \LTRNQP"aU[Z"PN^QP]M"[S"XPSYNMMUSLQR"TSLM[U[\[USLK"VN[ZS]SRS^UTQR"PU^SP"QL]"TSL[PUc\[USL+"#["aURR"[Z\M"LNN]"Y\P[ZNP"ULONM[U^Q[USL+"-\["QR[ZS\^Z"[ZN"RULb"UM"LNa"[S"QRR"YS\P"XQP[UNM"QL]"U["aS\R]"cN"QXXPSXPUQ[N"[S"ULONM[U^Q[N" [ZN"UVXRUTQ[USLM"U["PNXPNMNL[M"[S"NQTZK"#"ZQON" TZSMNL" [S" YST\M" SL"SLN" PSRN" UL" XQP[UT\RQP" UL" [ZUM" TZQX[NP1" [ZN" QPTZU[NT[+"%ZN"PNQMSL"YSP"[ZUM"TZSUTN"UM"YUPM["[ZQ["[ZN"RULb"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM"[QbNM"QL" nQPTZU[NT[\PQR" MU[\Q[USLH" QM" [ZN" XSUL[" SY" ]NXQP[\PN" lYSP" N`QVXRN" [ZPS\^Z" [ZN"NM[QcRUMZVNL["SY"Q"LNa"c\UR]UL^"SP"[ZN"PNM[P\T[\PUL^"SY"N`UM[UL^"XPNVUMNMm+"#["UM"[ZN"MXQ[UQR"TSL[N`["SY"SP^QLU_Q[USLQR" RUYN" [ZQ[" MN[M" [ZN" RULb"UL[S"VS[USL+".RMSK"QL]"QM"#"UL]UTQ[N"QcSONK" [ZN"XQPQRRNR" SP^QLU_Q[USLQR"]NMU^L"XPSTNMM"aURR" ULOSRON"M\cM[QL[UQR"TZQL^NM"[S"[ZN"QPTZU[NT[HM"[PQ]U[USLQR"XNPTNX[USL"SY"QL]"PNRQ[USLMZUX"aU[Z"[ZN"TRUNL["SP^QLU_Q[USL+"$S["[ZQ["[ZN"QPTZU[NT["UM"\LQaQPN"SY"\MQ^N"QL]"[ZN"Y\LT[USLQR"QMXNT[M"SY" [ZN" QPTZU[NT[\PQR" XPS]\T[+"%ZN"XPSYNMMUSL"ZQM" Q" RSL^" [PQ]U[USL" YSP" ZQL]RUL^" [ZN"[NLMUSL" cN[aNNL" YSPV" QL]" Y\LT[USL" QL]" YSP" TSVV\LUTQ[UL^" aU[Z" TRUNL["PNXPNMNL[Q[UONM+"2SaNONPK"[ZN"UVXRUTQ[USLM"[ZQ["ULTPNQMN]"ULOSRONVNL["SY"NL]"\MNPM"QM"QT[UON"QL]"TSL[UL\S\MRW"TZQL^UL^"TSL[PUc\[SPMK"MNNVM"[S"ZQON"RNY[" [ZN"QPTZU[NT["aU[Z" MSVN" TSLY\MUSL+" -W" [QbUL^" Q" RSSb" UL[S" Q" YNa" YNQ[\PNM" [ZQ[" TZQPQT[NPU_N" [ZN"QPTZU[NT["XPSYNMMUSLK"VW"QMXUPQ[USL"UL"[ZUM"TZQX[NP"ZQM"cNNL"[S"RNQPL"VSPN"QcS\["[ZN"N`UM[UL^"XPNTSL]U[USL"YSP"QL"N`[NL]N]"TSRRQcSPQ[USL"cN[aNNL"TRUNL["QL]"QPTZU[NT["k"QL]"[Z\M"QcS\["MSVN"SY"[ZN"UVXRUTQ[USLM"[ZQ["[ZN"RULb"UM"RUbNRW"[S"PNXPNMNL[+"".M" Q" XSUL[" SY" ]NXQP[\PN" YSP" [ZUM" ^RQLTN" UL[S" [ZN" QPTZU[NT[" XPSYNMMUSLK" QL]" [ZN"

TZQRRNL^NM"[ZQ["[ZN"TRSMNP"RULb"[S"[ZN"TRUNL["SP^QLU_Q[USL"VU^Z["VNQL"[S"QPTZU[NT[\PQR"

,C""

XPQT[UTNK" #" aQL[" [S" cPUL^" YSP[Z" Q" h\S[Q[USL" YPSV" QL" UL[NPOUNa" aU[Z" .PbU[NVQHM"YSPVNP"VQLQ^UL^"]UPNT[SP1""!M$% .':% +$$% "#$% +$$&% '@% .$:% "8/$+% '@% 7$"#'&+9% :#$0$% $.&% (+$0+% 60$% 7'0$%

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h\S[Q[USLK" [ZN"VQLQ^UL^" ]UPNT[SP" lYPSV"ZNPN" SLaQP]M" NL[U[RN]" [ZN"<(m"

UL]UTQ[NM"[ZQ["T\PPNL["MSTUN[QR"[NL]NLTUNM"VU^Z["PNXPNMNL["TNP[QUL"TZQRRNL^NM"YSP"[ZN"TSL[NVXSPQPW" QPTZU[NT[K" aU[Z" PN^QP]M" [S" XPS]\T[USL" QL]" TSRRQcSPQ[USL+" 2N" XSUL[M"S\[" [ZQ[" ULTPNQMN]" ULYR\NLTN" aURR" cN" ^UONL" [ZN" NL]" \MNPM" SY" [ZN" c\UR]UL^K" QM" QL"UL[N^PQ[N]" XQP[" SY" [ZN" ]NMU^L" XPSTNMM+" .RMSK" ZN" h\NM[USLM" [ZN" [PQ]U[USLQR"\L]NPM[QL]UL^" SY" [ZN" QPTZU[NT[\PQR" XPS]\T[" cW" XPSXSMUL^" Q" LNa" [WXN" SY" ]NMU^L"XPSTNMM"[ZQ["ZN"TZQPQT[NPU_NM"QM"!+'1,6*2"QL]"!+8.1#0'.,B$&2+"".M" [ZUM" M[\]W" Q]]PNMMNM" ZSa" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" UL" QPTZU[NT[\PQR"

]NMU^L" XPSTNMMNM" TQL" XPS]\TN" nTSLLNT[USLMH" cN[aNNL" SP^QLU_Q[USLQR" QL]"QPTZU[NT[\PQR"]NMU^LK"U["MNNVM"UVXSP[QL["[S"TSLMU]NP"[ZN"XPSYNMMUSLHM"XPNTSL]U[USLM"YSP" ULOSRONVNL[" UL" M\TZ" M\XXSMN]RW"V\[\QR" XPSTNMMNM+" #L" [ZN" YSRRSaUL^K" #" QUV" [S"]UMT\MM"Q"YNa"SY"[ZN"T\PPNL["TZQRRNL^N"[ZQ["[ZN"<("S\[RULNM"QcSON"QL]"aZW"Q"TRSMNP"RULb"VU^Z["cN"TZQRRNL^UL^"YSP"[ZN"QPTZU[NT["[S"ZQL]RN+"#"YUPM["S\[RULN"Q"YNa"YNQ[\PNM"[ZQ[" [PQ]U[USLQRRW" TZQPQT[NPU_N" [ZN" XPSYNMMUSL+" 2NPNK" #" YST\M" SL" MSVN" SY" [ZN"TZQPQT[NPUM[UTM"[ZQ["h\QRUYW"[ZN"[PQ]N"QM"Q"XPSYNMMUSL"QTTSP]UL^"[S"aZQ["Q"XPSYNMMUSL"UMK" QL]" SL" [ZN" [PQ]U[USLQR" ZNPU[Q^N" [ZQ[" M[URR" MNNVM" [S" MQ[\PQ[N" [ZN" XPSYNMMUSLQR"U]NL[U[W+"6NTSL]K"#"[QbN"Q"XPSOUMUSLQR"cPUNY"^RUVXMN"UL[S"aZQ["QPTZU[NT[M"]S"UL"[ZNUP"]NMU^L" XPQT[UTNK" UL" SP]NP" [S" Q]]PNMM" MSVN" SY" [ZN" NVNP^UL^" TZQRRNL^NM+" 2NPNK"N`QVXRNM"YPSV"[ZN"[aS"NVXUPUTQR"TQMNM"QPN"\MN]"[S"URR\M[PQ[N"[ZN"MU[\Q[USL"YPSV"[ZN"QPTZU[NT[MH"SaL"XNPMXNT[UON+"#L"[ZN"RQM["XQP["SY"[ZN"TZQX[NPK"#"PN[\PL"[S"[ZN"XPN]UT[USL"S\[RULN]" UL" [ZN"h\S[Q[USL"QcSON"cW".PbU[NVQHM" YSPVNP"<(K" UL"SP]NP"^N["Q"TRNQPNP"UVQ^N" SY" aZQ[" [ZN" [ZNMN" TZQRRNL^NM" VU^Z[" VNQL" [S" Y\[\PN" QPTZU[NT[\PQR" ]NMU^L"XPQT[UTN+""

,;""

$2%&=+$(-=+*#&2%(+$*0%1&*&'(")%44+"#&3%)$&.%5+3,%(%,&

%ZNPN" UM" Q" RQP^N" cS]W" SY" RU[NPQ[\PN" [ZQ[" Q]]PNMMNM" XPSYNMMUSLM+" 6[\]UNM" SY"STT\XQ[USLM" QL]" [ZNUP" XS[NL[UQR" NM[QcRUMZVNL[" UL[S" XPSYNMMUSLM" QL]" [ZNSPUNM" QcS\["aZQ["M\TZ"QL"NL[U[W"QT[\QRRW"TSLMUM[M"SY1"2Sa"[ZNW"QPN"]NYULN]"QL]"M[P\T[\PN]g"[ZN"YQT[SPM" [ZQ[" TSLM[U[\[N" [ZNVg" ZSa" [ZNW" ]NONRSXK" N`XQL]" SP" ]NTRULN" lN+^+" 5QPMSL"!A??K"!AACK".ccS[["!A,?K"*\YY"!AA!K"-PUL["!AACm+"'L"Q"^NLNPQR"RNONRK"U["MNNVM"[ZQ["[ZNSPUM[M" RQP^NRW" Q^PNN"SL" Q" YNa"ONPW"cQMUT" QL]" PNRQ[UONRW" RSSMNRW"]NYULN]" YQT[SPM"[ZQ[" TSL[PUc\[N" [S" ]NRULNQ[N" aZQ[" Q" XPSYNMMUSL" UM+" ." XPSYNMMUSL" UM" Q" TQ[N^SPW" SP"YPQVNaSPb"YSP"Q"^PS\X"[ZQ["PNXPNMNL[M"TNP[QUL"bLSaRN]^N"QL]"MbURRMK"SY[NL"Sc[QULN]"[ZPS\^Z"YSPVQR"N]\TQ[USL"QL]"[PQULUL^+"#["ZSR]M"Q"TNP[QUL"Q\[ZSPU[W"QL]"M[Q[\M" UL"Q"MSTUN[QR" TSL[N`[" l5QPMSL" !A??K" .ccS[[" !A,?K" -PUL[" !AACm+" .ccS[[" PNYNPM" [S" [ZN"RNONRM" SY" QcM[PQT[USL" UL" [ZN" cS]W" SY" bLSaRN]^N" [ZQ[" [ZN" ^PS\X" PNXPNMNL[M" QM" [ZN"TNL[PQR" YNQ[\PNM" [ZQ[" TZQPQT[NPU_N" Q" XPSYNMMUSL" l.ccS[[" !A,?m+" %ZN" XSUL[" SY"]NXQP[\PN" UL" [ZN" ]UMT\MMUSL" SY" XPSYNMMUSLM" cQMUTQRRW" ULOSRONM" UL[NPPNRQ[USLMK" UL"aZUTZ"[ZN"TSVXN[U[USL"cN[aNNL"SLN"^PS\X"QL]"S[ZNP"^PS\XM"VQbNM"U["LNTNMMQPW"[S"]NVSLM[PQ[N" [NPPU[SPW+"%ZN" YPQVNaSPb" QPS\L]"Q"XPSYNMMUSL" UM" U[M" d\PUM]UT[USLg" [ZQ["aZUTZ"cPUL^M"[ZN"XPSYNMMUSL"UL[S"XSaNP"aU[ZUL"Q"TNP[QUL"QPNQ+"%ZN"TSLM[U[\[USL"SY"Q"XPSYNMMUSL"ZQM" [Z\M" [S"]S"aU[Z" U[M"QcURU[W" [S"VQUL[QUL"TSL[PSR"SY" [ZUM"]SVQUL+" #[" UM"aZNL" qd\PUM]UT[USLM" cNTSVN" OQTQL[r" [ZQ[" [ZN" XPSYNMMUSL" ZQM" QL" SXXSP[\LU[W" [S"N`[NL]"QL]"Y\P[ZNP"]NONRSX"l#cU]1"Cm+"#["UM"[ZPS\^Z"M\TZ"OQTQLTUNM"PQ[ZNP"[ZQL"aU[ZUL"[ZN"XPSYNMMUSLM"[ZNVMNRONM"[ZQ["TZQL^NM"STT\P"QL]"]NONRSXVNL[M"[QbN"XRQTN+""".ccS[["]UOU]NM"[ZN"aQW"[ZQ["STT\XQ[USLQR"^PS\XM"QUV"[S"TSL[PSR"[ZNUP"bLSaRN]^N"

QL]"MbURRMK"UL[S"[aS"VQUL"^PS\XM+"'LN"UM"PNXPNMNL[N]"cW"[ZN"MZNNP"[NTZLUh\N"[ZQ["UM"[ZN" ^PS\XHM" TSVVSL" [PQ]N" SP" TPQY[K" aZNPNQM" [ZN" S[ZNP" ULOSRONM" aZQ[" ZN" TQRRM"qQcM[PQT[" bLSaRN]^Nr1" q2NPNK" XPQT[UTQR" MbURR" ^PSaM" S\[" SY" QL" QcM[PQT[" MWM[NV" SY"bLSaRN]^NK"QL]"TSL[PSR"SY"[ZN"STT\XQ[USL"RUNM"UL"[ZN"TSL[PSR"SY"[ZN"QcM[PQT[USLM"[ZQ["^NLNPQ[N" [ZN" XPQT[UTQR" [NTZLUh\NM+" %ZN" [NTZLUh\NM" [ZNVMNRONM" VQW" UL" YQT[" cN"]NRN^Q[N]"[S"S[ZNP"aSPbNPMr"l.ccS[["!A,?1",m+"2NPNK"[ZN"RNONR"SY"QcM[PQT[USL"UM"MNNL"QM"Q"LNTNMMQPW"MU^LQ[\PN"YSP"[ZN"XPSYNMMUSLK"UL"SP]NP"[S"VQUL[QUL"TSL[PSR+"%ZUM"UM"[ZN"T\PPNLTW" \MN]" UL" [ZN" TSVXN[U[USL" aU[Z" S[ZNPMK" QL]" [Z\M" [ZN" VQUL" YNQ[\PN" [ZQ["\XZSR]M"[ZN"XPSYNMMUSLHM"M\cMUM[NLTN+""

,F""

#Y"aN"TSLYNP"aU[Z"[ZN"RU[NPQ[\PN"SL"[ZN"QPTZU[NT["XPSYNMMUSL"UL"PN^QP]M"[S"U]NL[U[W"QL]"XPSYNMMUSLQR"XPQT[UTNK" MSVN"SY" [ZN"cQMUT"XPULTUXRNM"MN["S\["cW"GU[P\OU\M"MSVN"9EEE"WNQPM"Q^SK"VU^Z["M[URR"cN"MQU]"[S"ZSR]+".TTSP]UL^"[S"<QPb\M"QL]"*QVNPSLK"[ZN"UVXQT["[ZQ["[ZUM"ZNPU[Q^N"ZQM"ZQ]"SL"[ZN"XPSYNMMUSLHM"]NONRSXVNL[K"UM"\LVUM[QbQcRN"l<QPb\M" QL]" *QVNPSL" 9EE91" 9!D" 9Bm+" #L" SP]NP" [S" \L]NPM[QL]" MSVN" SY" [ZN"TZQRRNL^NM"[ZQ["[ZN"XPSYNMMUSL"[S]QW"UM"YQTN]"aU[ZK"U["MNNVM"LNTNMMQPW"[S"PNOUMU["[ZUM"RN^QTW+" #L" SLN" SY" ZUM" ]NYULU[USLM" SY" [ZN" XPSYNMMUSLHM" ^NLNPQR" cS]W" SY" bLSaRN]^NK"GU[P\OU\M"M[Q[NM1"'"q5N[" ZUV" cN" N]\TQ[N]K" MbURY\R" aU[Z" [ZN" XNLTURK" ULM[P\T[N]" UL" ^NSVN[PWK" bLSa"

V\TZ" ZUM[SPWK" ZQON" YSRRSaN]" [ZN" XZURSMSXZNPM" aU[Z" Q[[NL[USLK" \L]NPM[QL]" V\MUTK"ZQON" MSVN" bLSaRN]^N" SY" VN]UTULNK" bLSa" [ZN" SXULUSL" SY" [ZN" d\PUM[MK" QL]" cN"QTh\QUL[N]"aU[Z"QM[PSLSVW"QL]"[ZNSPW"SY"[ZN"ZNQONLMr"l*\YY"!AA!1",;m+"""&NQ]UL^" [ZPS\^Z" [ZN" M[Q[NVNL[K" U[" QXXNQPM" [ZQ[" [ZN" cS\L]RNMMLNMM" SY"

XPNPNh\UMU[NM"[ZQ["[ZN"XPSYNMMUSL"MNNVM"[S"ZQON"^PSaL"\X"aU[ZK"VU^Z["aNRR"ZQON"RNY["U[" MSVNaZQ[" TSLY\MN]+" .R[ZS\^Z" GU[P\OU\MH" ULU[UQR" X\PXSMN" ZQM" cNNL" [S" XPSOU]N"TRQPU[W" l<QPb\M" QL]" *QVNPSL" 9EE9mK" [ZN" PNM\R[" MNNVM" [S" cN" Q" XPSYNMMUSL" [ZQ["QXXNQPM"NTRNT[UT"QL]"TSL[PQ]UT[SPWK"aU[Z"PN^QP]M"[S"bLSaRN]^N"QL]"VN[ZS]"QM"aNRR"QM"[S"[ZN"PNRQ[USLMZUX"QL]"PNMXSLMUcURU[W"[SaQP]M"MSTUN[W"QL]"TRUNL[M+".M"U["UM"XSUL[N]"S\[" UL" [ZN" RU[NPQ[\PN" QL]" QRMS" URR\M[PQ[N]" cW" [ZN" NVXUPUTQR" ]Q[QK" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMM"UM"]UYYUT\R["YSP"QPTZU[NT[M"[S"[QRb"QcS\["QL]"[Z\M"]UYYUT\R["YSP"S\[MU]NPM"[S"TSVXPNZNL]+"'LN"SY"[ZN"YNQ[\PNM"[ZQ["[ZN"GU[P\OUQL"ZNPU[Q^N"QXXNQPM"[S"ZQON"RNY["cNZUL]"UM"Q"XQP[UT\RQP"TSLTNQRVNL["l*\YY"!AA!K"=UMZNP"9EEEmK"aZUTZ"QRMS"MNNVM"[S"TSLM[U[\[N"QL"UVXSP[QL["XQP["SY"[ZN"XPSYNMMUSLHM"MNLMN"SY"U]NL[U[W1"""q%ZN" [QTU[" SP" URRD]NYULN]" QMXNT[M" SY" [ZN" XPSYNMMUSLHM" bLSaRN]^NK" MbURRM" QL]"

[QRNL[M"XPSOU]N"Q"bUL]"SY"MNTPNTW"QcS\["[ZN"XPSYNMMUSLK"aZUTZ"UL"[\PL"TSL[PUc\[NM"[S"[ZN" XPSYNMMUSLHM" QcURU[W" [S" PNVQUL" MNRYDPN^\RQ[N]" QL]" MNRYDNOQR\Q[N]r" l*\YY" !AA!1"CBm+"""%ZNMN" YUPM[" YNa" TZQPQT[NPUM[UTM" MNNV" [S" UL]UTQ[N" MNONPQR" ]URNVVQM" [ZQ[" YSPV"

UVXSP[QL[" TR\NM" UL" SP]NP" [S" \L]NPM[QL]" VSPN" QcS\[" [ZN" XPNMNL[" MU[\Q[USL+" #L" [ZN"YSRRSaUL^"#"Q[[NVX["[S"TSVVNL["cPUNYRW"SL"Q"YNa"SY"[ZNMN+"=UPM[K"[ZN"QT[\QR"TSL[NL["SY" [ZN"XPSYNMMUSLHM"ScRU^Q[USLM" QXXNQP" [S"ZQON"Q"]S\cRN" TSLLS[Q[USL" [S" U[+"'L" [ZN"SLN" ZQL]K" U[" PNXPNMNL[M" QL" QP[UM[UT" TSL[PUc\[USL" [ZQ[" UM" ]UYYUT\R[" [S" QXXSUL[" QL]"

,B""

]NMTPUcNK" QM" QP[" SY[NL" UM+" 'L" [ZN" S[ZNPK" c\UR]UL^M" SP" MXQ[UQR" RQWS\[M" \M\QRRW" ZSR]"M\cM[QL[UQRRW" Y\LT[USLQR" X\PXSMNM+" #L" [ZUM" aQWK" [ZN" QcURU[W" [S" VNN[" Y\LT[USLQR"PNh\UPNVNL[M" UM" QRMS" Q" MU^LUYUTQL[" QMXNT[" SY" [ZN" XPSYNMMUSLHM" TSLM[U[\[USL+" 2NPNK"[ZNPN" MNNVM" [S" cN" Q" TNP[QUL" TSL[PQ]UT[USL" cN[aNNL" QP[UM[UT" XPSYNMMUSL" QL]"TPQY[MVQLMZUXK"aZUTZ"YSPVM"Q"TNL[PQR"XQP["SY"[ZN"XPSYNMMUSLHM"TSVXRN`U[W"l<QPb\M"QL]"*QVNPSL"9EE9m+"""6NTSL]K" [ZNPN" UM" Q"]URNVVQ" PNRQ[N]" [S" [ZN"XPSYNMMUSL"QM"cNUL^"QOQL[D^QP]N1"SL"

[ZN"YSPNYPSL["QL]"TPSMMUL^"cSP]NPM+"%ZUM"QMXUPQ[USL"MSVNZSa"MNNVM"UL"SXXSMU[USL"[S"[ZN" TSLTNQRN]" MU^LQ[\PN" [ZQ[" QPTZU[NT[M" QPN" M\PPS\L]N]" cW" QM" Q" XPSYNMMUSL1" [ZN"TRSMN]"\LU[+"%ZN"]URNVVQ"MSVNZSa"ULOSRONM"[ZN"]UYYUT\R[UNM"aU[ZUL"[ZN"XPSYNMMUSLHM"RQL^\Q^N" QL]" VN[ZS]K" Q" XSUL[" [ZQ[" aURR" cN" PNOUMU[N]" SL" VQLW" STTQMUSLM" UL" [ZUM"[ZNMUM+" -NUL^" SL" [ZN" YSPNYPSL[" ULOSRONM" TPSMMUL^" cSP]NPMK" aZUTZ" SY[NL" VNQLM"aSPbUL^"aU[Z"LNa"XNSXRN"QL]"[ZQ["UM"RUbNRW"[S"ULOSRON"MU^LUYUTQL["TSVV\LUTQ[USLQR"TZQRRNL^NM+" .PTZU[NT[M" QUV" [S" TPSMM" M\TZ" cSP]NPM" lQL]" [ZNW" ]S" MSmK" c\[" [ZN"QMXUPQ[USL"VU^Z["QRMS"cN" MQU]" [S"cN"XPNONL[N]"cW" [ZN"XPSYNMMUSLHM"VN[ZS]SRS^UTQR"TSLTNQRVNL[+"%ZN"TSRRQcSPQ[USLQR" TZQRRNL^NM"cN[aNNL"QPTZU[NT[M" QL]" [ZN"LNa" PSRN"SY"[ZN"XPSTNMM"]NMU^LNP"[ZQ["UM"XPSOUMUSLQRRW"]UMT\MMN]"SL"OQPUS\M"STTQMUSLM"UL"[ZUM"[ZNMUM" lTY+" *ZQX[NP" !K" MNT[USLM" F.K" F*K" B-" QL]" *ZQX[NP" ?mK" VU^Z[" S\[RULN" Q" YNa"QMXNT[M"[ZQ["[ZN"]URNVVQ"ZSR]M+"""%ZUP]K"[ZNPN"UM"[ZN"QPTZU[NT[\PQR"QMMU^LVNL["QL]"[ZN"PNRQ[USLMZUX"aU[Z"[ZN"TRUNL[+"

2NPNK"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"VU^Z["cN"MNNL"QM"[ZN"TSLTNX[USL"SY"Q"\LUh\N"lQP[m" XPS]\T[+" 'L" [ZN" S[ZNP" ZQL]K" QPTZU[NT[M" ULTPNQMUL^RW" YUL]" [ZNVMNRONM" UL"XPSYNMMUSLQRRW"TSVXPSVUMUL^"MU[\Q[USLMK" UL"aZUTZ" [ZNW" YNNR" [PQXXN]" UL"ScRU^Q[USLM"[SaQP]"[ZN"TRUNL["SP"MXSLMSP+".RMSK"QPTZU[NT[\PQR"YUPVM"QPN"c\MULNMMNM" [ZQ["LNN]"[S"cN"QcRN"[S"LQOU^Q[N"[ZN"VQPbN[+"%ZUM"ULOSRONM"Q"YULN"cQRQLTN"cN[aNNL"[ZN"QPTZU[NT[HM"XPSYNMMUSLQR"XNPMXNT[UONK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"QcURU[W"[S"VNN["[ZN"PNh\UPNVNL[M"YPSV" [ZN" TRUNL[K" SL" [ZN" S[ZNP+" 6TZSRQPM" QPN" T\PPNL[RW" ]UMT\MMUL^" ZSa" LNa"QXXPSQTZNM"[S"]NMU^L"XPQT[UTN"LSa"MNNV"[S"NM[QcRUMZ+"2NPNK"]UYYNPNL["TSLTNX[M"M\TZ"QM"qQP[Y\Rr"OM+"qMTUNL[UYUTr"QPN"\MN]"[S"]NMTPUcN"ZSa"]NMU^L"aSPb"UM"XPN]SVULQL[RW"cQMN]"SL" UL[\U[UON"QXXPSQTZNM"QL]ISP" ULOSRON"S[ZNP"VNQLMK" UL"SP]NP" [S" ULYSPV" [ZN"]NMU^L"XPQT[UTN"lN+^+"(QPMe"9EE;K"-NUV"QL]"GUcib"JNLMNL"9EEBK"=PUUM"9EE,m+"""=S\P[ZK"QPTZU[NT[\PQR"XPQT[UTN"UM"TZQPQT[NPU_N]"cW"[ZN"TSL[PQ]UT[USL"cN[aNNL"[ZN"

XPSYNMMUSLHM" MSTUN[QR" PNMXSLMUcURU[W" SL" [ZN" SLN" ZQL]K" QL]" [ZN" XPSYNMMUSLQR"

,?""

PNTS^LU[USLK" SL" [ZN"S[ZNP+" #L" [ZN" YUNR]"SY"QPTZU[NT[\PNK" [ZN"VQUL" MNLMN"SY" TPN]U[" UM"bNX["\XK"LS["[ZPS\^Z"PNTUXUNL[MK"TRUNL["QL]"[ZN"^NLNPQR"X\cRUTK"c\["PQ[ZNP"UL[NPLQRRWK"cW" [ZN"XPSYNMMUSL" U[MNRY" l*\YY" !AA!K"2URR" !AAAK"=UMZNP"9EEEm+" #"aURR" PN[\PL" [S" [ZUM"XSUL["cNRSa"UL"[ZUM"TZQX[NP+""=UY[ZK" [ZNPN" UM" Q" ZUM[SPUTQRRW" TSLM[P\T[N]" ]UTZS[SVW" cN[aNNL" QPTZU[NT[\PQR"

XPS]\T[" QM" Q" XUNTN" SY" QP[" QL]" QL" QPTZU[NT[\PQR" XPS]\T[" QM" QL" SL^SUL^" PNM\R[" SY" Q"XPSTNMM"SY"U[NPQ[UON"TZQL^N+".R[ZS\^Z"QPTZU[NT[\PQR"]NMU^L"XPS]\T[M"QPN"VSM["SY[NL"M\cdNT["[S"M\cMNh\NL["\MQ^N"QL]"[ZNPNcW"[S"VS]UYUTQ[USL"QL]"TZQL^NK"[ZN"XPS]\T[HM"Y\P[ZNP" dS\PLNW" UM" PQPNRW" UL" YST\M+" 7N" SY[NL" ZNQP" M[SPUNM" QcS\[" ZSa" QPTZU[NT[M"TQLLS[" cNQP" [S" MNN" ZSa" NL]" \MNPM" QXXRW" ^PUV" T\P[QULM" SP" S[ZNP" YNQ[\PNM" UL[S" QL"QPTZU[NT[\PQR"YPQVNaSPb"[ZQ["aQM"SPU^ULQRRW"TSLMU]NPN]"!+"0'.-2+"7U[Z"PNYNPNLTN"[S"[ZN"h\S[Q[USL"QcSON"cW".PbU[NVQHM"YSPVNP"<(K" [ZN"TSLTNX["SY"QPTZU[NT[\PN"QM"!6%+'1,6*%')F$1"2"M[URR"MNNVM"[S"LNN]"Y\P[ZNP"]UMT\MMUSL+"=SP"OQPUS\M"PNQMSLMK"aPU[UL^M"[ZQ["ZQON"]UMT\MMN]"[ZUM"QMXNT["SY" [ZN"QPTZU[NT[\PQR"XPS]\T["ZQON"LS["QM"M\TZ"cNNL"ULOSRON]" UL" [ZN" ]NcQ[N" SL" QPTZU[NT[\PQR" h\QRU[W+"2NPNK" [ZN" YUNR]" QXXNQPM" [S" ]UOU]N"UL[S"MN^VNL[M1"%ZSMN" UL[NPNM[N]" UL" [ZN"QPTZU[NT[\PQR"XPS]\T["QM"Q"XUNTN" UL" U[M"SaL"PU^Z[K"QL]"[ZSMN"UL[NPNM[N]"UL"[ZN"QPTZU[NT[\PQR"XPS]\T["QL]"U[M"h\QRU[WK"aU[Z"PN^QP]M"[S" TSL[N`[" lN+^+" -PQL]" !AA;m+" 6SVN" QPTZU[NT[\PQR" MTZSRQPM" ZQON" XSUL[N]" S\[" [ZN"UVXSP[QLTN"SY" N`XQL]UL^" [ZN" QXXPSQTZ" [S" [ZN" ]NMU^L"XPSTNMM" cW" UL[PS]\TUL^"LNa"VN[ZS]M" QL]" YST\M" VSPN" SL" [ZN" UL[NPMNT[USL" cN[aNNL" QPTZU[NT[" QL]" \MNP" UL" [ZN"NVNP^NLTN" SY" [ZN" ]NMU^L" MSR\[USL" lN+^+" .RN`QL]NP" !A?AK" !A,!m+" -\[" [ZN" ]UOUMUSL"cN[aNNL" !"#$% /,$1$% /$0+/$1",;$2" QL]" !"#$% /0'1$++% /$0+/$1",;$2" UL" QPTZU[NT[\PQR"XPS]\T[USL" M[URR" MNNVM" M\cM[QL[UQR" aU[ZUL" [ZN" YUNR]K" aZUTZ" aURR" cN" URR\M[PQ[N]" QL]"]UMT\MMN]"UL"MNT[USL"B-"cNRSa+"""%ZNMN" ]URNVVQM" QL]" TSL[PQ]UT[USLM" QPN" TNL[PQRK" UL" SP]NP" [S" ]UMT\MM" [ZN"

NM[QcRUMZVNL["SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"Q"XS[NL[UQR"QXXPSQTZ"[S"ULYSPV"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+" #Y" M\TZ"VN[ZS]SRS^UTQR"ONZUTRNM"QPN" ULTPNQMUL^RW"]NYULN]"QM"Q"PNh\UPNVNL["YPSV"MSTUN[W"UL"^NLNPQR"QL]"YPSV"[ZN"TRUNL["UL"XQP[UT\RQPK"U["cNTSVNM" TP\TUQR" YSP" [ZN" XPSYNMMUSLQR" QPTZU[NT[" [S" ]UMT\MM" [ZN" UVXRUTQ[USLM" QL]"SXXSP[\LU[UNM"[ZQ["[ZNMN"QXXPSQTZNM"TQL"ZSR]+"""

,,""

$2%&!"#$%8'"(*(6&*(!2+$%!$1&&$2%&!-((%#$&4+$-*$+"#&

&N[\PLUL^"[S"[ZN"^NLNPQR"TZQPQT[NPUM[UTM"SY"Q"XPSYNMMUSLK"[ZNPN"QPN"MNONPQR"QMXNT[M"[ZQ[" MNNV" [S" TZQRRNL^N" [ZN" TSL[NVXSPQPW" QPTZU[NT[K" aU[Z" PN^QP]M" [S" YSP" N`QVXRN"VQPbN[" OQTQLTWK" MSTUN[QR" PNMXSLMUcURU[WK" VN[ZS]SRS^UTQR" QXXPSQTZNM" QL]"XPSYNMMUSLQR"RQL^\Q^N+""

)H!&45!97A4;=5A=^@!?6@;=;6:S!D;=4!75897M@!=6!B9A9:A;5@!;:!=45!

P97L5=!

*\PPNL[" [NL]NLTUNM" UL]UTQ[N" [ZQ[" [ZN" MTSXNK" aU[ZUL" aZUTZ" [ZN" YUNR]" SY"QPTZU[NT[\PQR" ]NMU^L" TQL" SXNPQ[NK" ZQM" N`XQL]N]" [ZPS\^ZS\[" PNTNL[" WNQPM+" %ZN"N`XQLMUSL"ZQM"X\["YSP[Z"LNa"SXXSP[\LU[UNM"QL]"XPSYNMMUSLQR"UVXRUTQ[USLM"lN+^+"*\YY"!AA!K"5NQ[ZNPcQPPSa"9EE!m+"#["ZQM"^UONL"aQW"[S"Q"L\VcNP"SY"XS[NL[UQR"OQTQLTUNM"UL"[ZN" VQPbN[K" c\[" QRMS" [S" Q" L\VcNP" SY" XS[NL[UQR" LNa" XRQWNPMK" aZS" QPN" [PWUL^" [S"NM[QcRUMZ"[ZNUP"T\PPNLTW"UL"[ZN"TSVXN[U[USL+"6NONPQR"SY"[ZNMN"TZQL^NM"QPN"TQ\MN]"cW"[NTZLUTQR" ]NONRSXVNL[MK" c\[" MSY[NP" XPS]\T[M" ZQON" QRMS" YS\L]" [ZNUP" aQW" UL[S" [ZN"c\UR]UL^" UL]\M[PW+" 6\TZ" LNa" ZQP]" QL]" MSY[" [NTZLSRS^UNM" VU^Z[" PNXPNMNL["SXXSP[\LU[UNM" YSP" [ZN"TSL[NVXSPQPW"QPTZU[NT[+" #["]SNMLH["LNTNMMQPURW"VNQL" [ZQ[" [ZN"QPTZU[NT["ZNPMNRY"MZS\R]"cN"TQXQcRN"SY"[QbUL^"SL"Q"LNa"PSRN+"-\["U["VU^Z["cN"PNRNOQL["YSP" QL" QPTZU[NT[\PQR" YUPV" [S" TSLMU]NP" U[M" XSMU[USLK" aU[Z" PN^QP]M" [S" M\TZ" XS[NL[UQR"OQTQLTUNM"SP"N`XQLMUSLM"[ZQ["T\PPNL[RW"MNNVM"[S"cN"NVNP^UL^+"2NPNK"[ZN"OQTQLTW"SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"PNXPNMNL[M"Q"LNa"QXXPSQTZ"[S"]NMU^L"]NONRSXVNL["QL]" TSSP]ULQ[USL" UL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM+" " #Y" aN" Q]]" [S" U[" [ZN" VSPN"[NTZLUTQRRW" SPUNL[N]" OQTQLTUNM" [ZQ[" QPN" XPNMNL[RW" ]NONRSXUL^" UL" [ZN" YUNR]K" [ZNMN"ULTR\]N" LNa" VN[ZS]M" [ZQ[" PNh\UPN" LNa" XRQWNPM" QL]" MXNTUQRUM[M+" #L" [ZUM" TRUVQ[NK"5NQ[ZNPcQPPSa" M\^^NM[M" Q" XPNMNPOQ[USL" SY" [ZN" ]UYYNPNLTNM" cN[aNNL" [ZN" YUNR]M"ULOSRON]1" [S" ZSR]" SL" [S" XPSYNMMUSLQR" PNMXSLMUcURU[W" UL" SP]NP" [S" M\XXSP[" [ZN"]NONRSXVNL[" SY" LSONR" ]NMU^L" PNM\R[M" [ZQ[" QPN" cQMN]" SL" TPSMM" ]UMTUXRULQPW"TSRRQcSPQ[USL" l5NQ[ZNPcQPPSa"9EE!m+".M"TSL[NVXSPQPW"c\UR]UL^"XPSdNT[M" PNXPNMNL["M\cM[QL[UQR" TSVXRN`U[WK" [ZN"TSL[PUc\[SPM" [ZQ[" TQL" M\XXSP[" [ZUM"XPSTNMM" MZS\R]" [Z\M"QUV" [S" TSRRQcSPQ[NK" c\[" QRMS" VQUL[QUL" XPSYNMMUSLQR" UL[N^PU[W+" *SL[NVXSPQPW"

,A""

QPTZU[NT[M"MNNV"[S"M[P\^^RN"[S"YUL]"[ZN"cQRQLTN"UL"[ZUM"MN[\X+".M"QL"QPTZU[NT["TRSMNRW"ULOSRON]"UL"[ZN"%SaL"2QRR"XPSdNT["XSUL[M"S\["UL"QL"UL[NPOUNa1"""!P**% ,.% 6**9%7'0$% 6.&%7'0$% 6&;,+'0+% +$$7% "'% )$%7'*&$&% ,.9% $+/$1,6**8% '.% "#$%

"$1#.,16*%+,&$A%E'%8'(%1'(*&%/$0#6/+%:,+#%@'0%O%F(+"%@'0%"#$%+65$%'@%)6*6.1$%O%6%),"%7'0$% '@% "#$% '"#$0% +,&$9% "#$% +'@"$0% /60"9% 6% ),"% +"0'.-$0% 0$/0$+$."$&% ,.% "#,+% :#'*$%+$"(/%'@%6&;,+'0+A% 3.% "#$+$% "8/$+%'@%/0'F$1"+9% 3%+'7$",7$+% @,.&%78+$*@% ,.%7$$",.-+9%:#$0$% 347% '.$% 601#,"$1"% +(00'(.&$&% )8% ":$*;$% $.-,.$$0+A% 3"% +/$65+% @'0% ,"+$*@Q%8'(40$%-$"",.-%)$#,.&%,.%"#6"%+,"(6",'.A2%""

OH!&45!97A4;=5A=^@!@6A;5=9>!75@?6:@;R;>;=Q!

%ZN"M[Q[NVNL["QcSON"VU^Z["cN"MNNL"QM"Q"TSVVNL["[S"[ZN"ULTPNQMN]"TSVXRN`U[W"[ZQ["TSLM[U[\[NM"TSL[NVXSPQPW"c\UR]UL^"XPSdNT[M+"-\["U["VU^Z["QRMS"UL]UTQ[N"[ZQ["[ZN"QPTZU[NT["ZQM"cWXQMMN]"MSVN"SY"[ZN"T\PPNL["OQTQLTUNMK"QL]"[ZQ["[ZUM"ZQM"RNY["ZNP"UL"QL"UL[PUTQ[N"XSMU[USL+"6NONPQR" MTZSRQPM"XSUL["S\[" [ZN" [NL]NLTW" [SaQP]M" [ZN" QPTZU[NT[HM"VQP^ULQRU_N]"XSMU[USL"lN+^+"0\[VQL"!A,,K"*\YY"!AA!K"=UMZNP"9EEEK"9EE!K"2URR"!AAAK"5NQ[ZNPcQPPSa" 9EE!m+" 'LN" PNQMSL" YSP" [ZUM" VU^Z[" cN" [ZN" XSUL[" #" ZQON" UL]UTQ[N]"QcSONg"[ZQ["PNTS^LU[USL"aU[ZUL"[ZN"QPTZU[NT["XPSYNMMUSL"UM"cQMN]"\XSL"XNNPMK"PQ[ZNP"[ZQL"\XSL" [ZN" YNN]cQTb" YPSV"TRUNL[M" QL]" MSTUN[W" l*\YY"!AA!K"-PQL]"!AA;K"=UMZNP"9EEEm+" #L" Q" MSTUN[QR" TSL[N`[" [ZQ[" UM" ^NLNPQRRW" TSLM[U[\[N]" cW" Q" cQRQLTN" cN[aNNL"M\XXRW"QL]"]NVQL]K"QL]"aU[Z"Q"M[PSL^"YST\M"SL"[ZN"X\PTZQMNPK"[ZUM"QXXPSQTZ"MNNVM"TSL[PQ]UT[UON+" &NYNPPUL^" [S" 5QPMSL" l!A??mK" *\YY" XSUL[M" S\[" [ZQ[" [ZN" [PQ]U[USLQR"PNRQ[USLMZUX" cN[aNNL" [PQULUL^K" bLSaRN]^N" QL]" VQPbN[" TSL[PUc\[NM" [S" YSPV" QL"U]NSRS^W1"q#]NSRS^UTQRRWK"XPSYNMMUSLM"QPN"cS\L]"UL"Q"MSTUQR"TSL[PQT["aU[Z"[ZN"X\cRUT1"[ZNW" PN[QUL" TNP[QUL" PU^Z[M" QL]" XPUOURN^NM" UL" MSTUN[W" UL" PN[\PL" YSP" cNQPUL^" TNP[QUL"PNMXSLMUcURU[UNMr" l*\YY" !AA!1" 9Cm+" %ZN" QPTZU[NT[" XPSYNMMUSL" ]SNM" LS[" TSPPNMXSL]"aU[Z"M\TZ"QL"U]NSRS^UTQR"XSUL["SY"]NXQP[\PN+"#[" YSPVM"QL"ULLNP"TSLYRUT["cW"VSOUL^"[ZN"QPTZU[NT[M"qY\P[ZNP"YPSV"[ZNUP"U]NQRU_N]"XPSYNMMUSLQR"PSRNr"l*\YY"!AA!1"9;m+""%ZN"TSVXRN`U[W"UL"[ZN"RULb"cN[aNNL"MSTUN[QR"PNMXSLMUcURU[W"SL"[ZN"SLN"ZQL]K"QL]"

XPSYNMMUSLQR"PNTS^LU[USLK"SL"[ZN"S[ZNPK" UM"PNYRNT[N]"UL"[ZN"XPSYNMMUSLHM"ULM[U[\[USLQR"YPQVNaSPb+"%ZNPN" UM"Q"MU^LUYUTQL["]UYYNPNLTN"cN[aNNL" [ZN"QPNQ"SY"QPTZU[NT[\PN"QL]"YSP"N`QVXRN"[ZN"OUM\QR"QP["MTNLN+"#L"QP[K"[ZNPN"UM"Q"TRNQP"]UM[QLTN"cN[aNNL"QP[UM[MK"QP[M"ULM[U[\[USLM" QL]" [ZN"SL^SUL^"]NcQ[NMK"aZUTZ"VQbNM" [ZN" QP[UM[M"VSPN"]N[QTZN]" QL]"UL]UOU]\QRK"QL]" [Z\M"VSPN"QTT\M[SVN]"[S"XQP[QbN" UL"]UMT\MMUSL"QVSL^"XNNPM" l2URR"

AE""

!AAAm+" .PTZU[NT[MK" SL" [ZN" S[ZNP" ZQL]K" ^N[" [ZNUP" PNTS^LU[USL" UL[NPLQRRW+" 2NPNK" [ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"UL]UOU]\QR"QPTZU[NT["QL]"[ZN"QPTZU[NT["XPSYNMMUSL"UM"Q"M[PSL^"UL]UTQ[SP" YSP" U]NL[U[W" QL]" TSVVU[VNL[+" (UMT\MMUSLM" QPN" [Z\M" PQ[ZNP" cN[aNNL" [ZN"XPSYNMMUSL"QL]"[ZN"X\cRUT"[ZQL"UL[NPLQRRW"cN[aNNL"QPTZU[NT[M+"#L"[ZUM"aQW"aN"VU^Z["MQW" [ZQ[" [ZN" XPSYNMMUSL" UM" TSLMNPOQ[UONK" MNTPN[" QL]" MNRYDXPS[NT[UON" l*\YY" !AA!K"5QPMSL"!AACK"2URR"!AAAK"=UMZNP"9EEEm+".PTZU[NT[M"ZQON"ZUM[SPUTQRRW"QOSU]N]"\LUSLMK"aZUTZ"ZQON"cNNL"XNPTNUON]"QM"\LXPSYNMMUSLQRK"aZURN"Q["[ZN"MQVN"[UVN"aSPbUL^"YSP"RSa" aQ^NM" QL]" aU[ZS\[" SP^QLU_N]" PU^Z[M" l5QPMSL" !A??K" !AACm+" .PTZU[NT[M" \MN"UL[NPLQR" RNONPQ^NM" [S" d\]^N" M[Q[\M" QL]" [S" bNNX" \X" TSL[PSRK" QL]" [ZN" U]NQ" SY" cNUL^"SP^QLU_N]" UL"Q"\LUSL"ZQM" [Z\M" [PQ]U[USLQRRW"cNNL"MNNL"QM"Q" [ZPNQ[" [S" [ZN"cPNN]+"-W"QL]"RQP^NK"[ZN"XPSYNMMUSL"MNNVM"[S"ZQON"bNX["TSL[PSR"SONP"U[M"[NPPU[SPWK"]NMXU[N"SYK"SP"XNPZQXM"PQ[ZNP"cNTQ\MN"SYD"U[M"STT\XQ[USLQR"TSLTNQRVNL[+"-\["UL"[ZN"T\PPNL["TRUVQ[NK"[ZN" MNTPNTW"VU^Z[" cN" M\cM[QL[UQRRW" TZQRRNL^N]K"aU[Z" PNYNPNLTN" YSP" N`QVXRN" [S" [ZN"XZNLSVNLSL"Q]]PNMMN]"UL"[ZUM"M[\]W1"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL+"'

TH!&45!97A4;=5A=C79>!>9:8C985*!P9;:=9;:;:8!A6:=76>!RQ!L55?;:8!

6=457@!6C=!

2QOUL^"M[\]UN]"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"UL"QL"NVXUPUTQR"TSL[N`[K"#"ZQON"N`XNPUNLTN]" [ZN" S\[MU]NPHM" UVXPNMMUSL" SY" [ZN" VUMVQ[TZ" cN[aNNL" [ZN" RNONR" SY"QcM[PQT[USL" UL" [ZN" cS]W" SY" bLSaRN]^NK" SL" [ZN" SLN" ZQL]K" QL]" [ZN" QPTZU[NT[HM"N`XRQLQ[USL"SY"aZQ["ZQXXNLM"UL"[ZN"]NMU^L"XPSTNMMK"SL"[ZN"S[ZNP+"-\["QR[ZS\^Z"[ZN"TSVXRN`U[W"SY"aZQ["QPTZU[NT[HM"]S"UL"[ZNUP"XPQT[UTN"MNNVM"ULMTP\[QcRN"[S"M[PQL^NPMK"U["TSVNM" YSP[Z" [ZQ[" [ZNW" ]S" \L]NPM[QL]" NQTZ" S[ZNP" QL]" [ZQ[" [ZNW" MZQPN" Q" XQP[UT\RQP"XPSYNMMUSLQR" RQL^\Q^N+"(\PUL^" QL" UL[NPOUNa"aU[Z" QL" QPTZU[NT[" TRSMNRW" ULOSRON]" UL"[ZN"<UbQ]S"2S\MN"XPSdNT[K"#"QMbN]"ZUV"QcS\["[ZN"RQL^\Q^N"^QX"cN[aNNL"[ZN"ULMU]N"QL]"S\[MU]N"SY"[ZN"XPSYNMMUSL1""

R60,6..$Q% S'$+% ,"% 765$% +$.+$% "'% 8'(% :#$.% 3% +68% "#6"% 3% O% 6+% 6.% '("+,&$0% O%+'7$",7$+%@,.&%,"%#60&%"'%(.&$0+"6.&%"#$%1'.;$0+6",'.%)$":$$.%":'%601#,"$1"+J%%P01#,"$1"Q%%3%(.&$0+"6.&%"#6"%/$0@$1"*8A%%%R60,6..$Q%P.&%,@%:$%*''5%6"%+'7$%'@%"#$%"#,.-+%)$,.-%+6,&%,.%"#$%1'.;$0+6",'.+9%,"%&'$+.4"%0$6**8%765$%+$.+$9%$;$.%-06776",16**8A%%

A!""

%%P01#,"$1"Q%T'%I*6(-#+KA%%%R60,6..$Q%M#8%,+%"#,+J%%%P01#,"$1"Q% 3%&'.4"%5.':A% 3"4+% +'7$"#,.-%:$%#6;$%6**% "#$%:68%)615% @0'7%+1#''*A% 3%&'.4"%0$6**8%5.':A%%%R60,6..$Q%U("%,"%&'$+.4"%+'(.&%*,5$%8'(%#6;$%6.8%&,@@,1(*",$+%,.%(.&$0+"6.&,.-%'.$%6.'"#$0J%%P01#,"$1"Q%T'"%6"%6**A%%"".M" U[" TSVNM" YSP[Z" UL" [ZUM" MVQRR" ]UQRS^\NK" [ZN" XPSYNMMUSLQR" RQL^\Q^N" MZQPN]"cW"

QPTZU[NT[M"UM"SY[NL"UL]NTUXZNPQcRN"[S"S\[MU]NPM"lN+^+"2URR"!AAAK"=UMZNP"9EEEm"QL]"QRMS"]UYYUT\R["YSP"VNVcNPM"SY"[ZN"XPSYNMMUSL"[S"QP[UT\RQ[N+"&NTQRRUL^".ccS[[HM"S\[RULN"SY"[ZN"TNL[PQR"YNQ[\PNM"[ZQ["TZQPQT[NPU_N"Q"XPSYNMMUSLK"U["MNNVM"[S"cN"QTT\PQ[N"aU[ZUL"[ZN"YUNR]" SY" QPTZU[NT[\PNK" UL" aZUTZ" [ZN" RNONR" SY" QcM[PQT[USL" UM" ZU^Z" QL]" [ZN" cS]W" SY"bLSaRN]^N" TQL" cN" TZQPQT[NPU_N]" QM" NMS[NPUT+" #L" [ZUM" aQWK" [ZN" [NPPU[SPW" UM" bNX[" UL"TSL[PSR+" 6[NULNP" XSUL[M" S\[" [ZQ[" Q" TNL[PQR" X\PXSMN" SY" Q" RQL^\Q^N" UM" [ZQ[" U["TSLMSRU]Q[NM"Q"^PS\XHM"MNLMN"SY"U]NL[U[W+"7N"[NL]"[S"[ZULb"[ZQ["RQL^\Q^N"MNPONM"[ZN"VSPN" ^NLNPQR" X\PXSMN" SY" TSVV\LUTQ[USL" aU[Z" S[ZNP" ^PS\XMK" c\[" U[" UM" UL" YQT[" Q"qMNTPN[" [SaQP]M"[ZN"S\[MU]NP"QL]"ULONL[UON"SY"U[M"SaL"aSPR]r"l6[NULNP"!AA,1"9;Cm+"=UMZNP" QTbLSaRN]^NM" [ZUM" ONPcQRU_UL^" ]UYYUT\R[WK" QL]" [ZN" QXXQPNL[" [PS\cRN" [ZQ["QPTZU[NT[M"MNNV"[S"ZQON"UL"QP[UT\RQ[UL^"[ZN"OQR\N"SY"QPTZU[NT[\PN"QM"TSL[PUc\[USLM"UL"RQP^NP" MSTUN[QR" TSL[N`[M+" 2N" NVXZQMU_NM" [ZN" ^NLNPQR" RQTb" SY" UL[NPNM[" [ZQ["XPSYNMMUSLQR"QPTZU[NT[M"MNNV"[S"ZQON"UL"aSP]M"QL]"QP[UT\RQ[USLK"MUVXRW"cNTQ\MN"[ZNUP"YST\M"UM"SL"[ZN"]NMU^L"U[MNRYK"LS["SL"ZSa"U["UM"cNUL^"XZPQMN]1"""qs%ZNt"VUM\L]NPM[QL]UL^M"PNVQULK"UL"LS"MVQRR"XQP["cNTQ\MN"SY"[ZN"ONPW"]UYYNPNL["

T\R[\PNM" [ZQ[" aNHON" T\R[UOQ[N]" aU[ZUL" S\P" UL]\M[PWK" QL]" aZUTZ" aN" XNPXN[\Q[N"[ZPS\^Z" [ZN" RQL^\Q^NK" SP" PQ[ZNP" RQL^\Q^NMK" aN" \MN+" 7N" PQPNRW" [ZULb" SY" [ZNMN"RQL^\Q^NM"QM"Q"XPScRNVK"XNPZQXM"cNTQ\MN"aSP]M"UL[NPNM["\M"RNMM"[ZQL"[ZN"[ZUL^M"aN"c\UR]r"l=UMZNP"9EEE1"!E;m+"""

A9""

6NONPQR"MTZSRQPM"PNRQ[N"[ZN"RQL^\Q^N"TZQRRNL^N"TRSMNRW"[S"[ZN"ULTPNQMUL^"]UM[QLTN"cN[aNNL"QPTZU[NT["QL]"TRUNL[K"]\N"[S"[ZN"^PSaUL^"L\VcNP"SY"XQP[UNM"ULOSRON]"UL"[ZN"TSL[NVXSPQPW" c\UR]UL^" XPSdNT[" lN+^+" 0\[VQL" !A,,K" *\YY" !AA!K" =UMZNP" 9EEEK"5NQ[ZNPcQPPSa"9EE!m+"=UMZNP"QP^\NM"[ZQ["[ZN"TRUNL["QL]"[ZN"RQP^NP"Q\]UNLTN"aURR"cN"VSPN" ULTRULN]" [S" RUM[NL" [S" QL]" TSVV\LUTQ[N" aU[Z" YSP" N`QVXRN" NL^ULNNPMK" aZS"TSVV\LUTQ[N" [ZNUP" XRQLM" QL]" XPSXSMQRM" UL" Q"VSPN" ]NTUXZNPQcRN" RQL^\Q^N" l=UMZNP"9EEEm+" %ZUM" XSUL[K" aZUTZ" QRMS" PNYNPM" [S" Q" [PQ]U[USL" YSP" TSVXN[U[USL" cN[aNNL"QPTZU[NT[M"QL]"NL^ULNNPM" UL"PN^QP]M" [S"OQTQLTW"QL]"TSL[PSRK" UM"QRMS"XSUL[N]"S\["cW"MNONPQR" QPTZU[NT[M" ULOSRON]" UL" [ZUM" M[\]W+"'LN" SY" [ZN" QPTZU[NT[M" UL" [ZN"%SaL"2QRR"XPSdNT["]NMTPUcNM"U["RUbN"[ZUM"UL"QL"UL[NPOUNa1"""!=G?#$8% ="#$% $.-,.$$0+?% 60$% /$0#6/+%6*+'% )$""$0% 6"% 1'77(.,16",.-%:#6"% "#$8%

&'9%:#6"%"#$8%)0,.-%,.9%)$16(+$%,"4+%7'0$%/0$1,+$%5.':*$&-$A%V0%6"%*$6+"%60$%"#$8%/#06+,.-%,"%6+%+(1#A2%""%ZN"h\S[Q[USL"VU^Z["cN"MNNL"QM"Q"TSVVNL["SL" [ZN"cQRQLTN"cN[aNNL" [ZN"QT[\QR"

TSL[NL["SY"Q"XPQT[UTN"QL]"[ZN"aQW"U["UM"cNUL^"TSVV\LUTQ[N]K"QL]"SL"[ZN"QPTZU[NT[HM"QcURU[W" [S" \L]NP[QbN" [ZUM" cQRQLTN+" *\YY" XSUL[M" S\[" Q" YNa" ]UYYUT\R[UNMK" UL" [NPVM" SY"]NMTPUcUL^" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPQT[UTN1" q%ZN" QPTZU[NT[" YUL]M" U[" ]UYYUT\R[" [S"N`XRQUL" ZSa" [S" XNPM\Q]N" Q" TRUNL[K" PNTS^LU_N" QL" QTTNX[QcRN" TSVXPSVUMNK" aSPb"aU[ZUL" [ZN" c\]^N[" k" [ZNMN" QPN" [ZUL^M" WS\" nd\M[" ]SH+" 6\TZ" PS\[ULN" QT[USLMK" aZUTZ"\L]NP^S"TSL[UL\S\M"]NONRSXVNL[K"QPN"VNQLUL^Y\R"TSVXSLNL[M"aU[ZUL"[ZN"XQP[UT\RQP"MN[[UL^" SY" QPTZU[NT[\PQR" XPQT[UTN+" -\[" [ZNW" QPN" N`QT[RW" [ZN" NRNVNL[M" SY" aZUTZ"S\[MU]NPM"ZQON"LS" ULbRUL^"QL]"MS"]NONRSX"]UM[SP[N]" UVQ^NM"SY"QPTZU[NT[M"QL]" [ZNUP"aSPbr"l*\YY"!AA!1"Fm+"7U[Z"[ZN"T\PPNL["PNh\UPNVNL[M"SY"Q"TRSMNP"ULOSRONVNL["SY"[ZN"TRUNL["SP^QLU_Q[USL"[ZPS\^Z"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USLK"ZSaNONPK"[ZN"UMM\N"SY"RQL^\Q^N"QL]"TSVV\LUTQ[USL"MNNV"PNRNOQL["[S"]UMT\MM"QL]"ULONM[U^Q[N+"""

]H!&45!97A4;=5A=C79>!M5@;8:!?79A=;A5*!PC>=;?>5!9:M!5PR6M;5M!!

.R[ZS\^Z" U[" UM" TSVVSLRW" QTbLSaRN]^N]" [ZQ[" ]NMU^L" XPSTNMMNM" QPN" ]UYYUT\R[" [S"TQX[\PNK" VQLW" M[\]UNM" ZQON" Q]]PNMMN]" ZSa" [ZNMN" XPSTNMMNM" ]NONRSX" QL]" ZSa"]UYYNPNL[" [WXNM" SY" ]NMU^LNPM" aSPb" lN+^+" >NUMNR" !A,;K" $SPVQL" !A,,K" *\YY" !AA!K"5QaMSL" !AA?K" 6[QLbUNaUT_" 9EEEK" -NUV" QL]"<SMMUL" 9EE;K" 5S[_" 9EEFm+" 6SVN" SY"[ZNMN"ZU^ZRU^Z["[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"QR[ZS\^Z"U["UM"XSUL[N]"S\["[ZQ["[ZNMN"]S" LS[" M\cM[QL[UQRRW" ]UONP^N" YPSV" S[ZNP" PNRQ[N]" ]NMU^L" QPNQM" l-NUV" QL]"<SMMUL"

AC""

9EE;m+"&NYNPPUL^"[S"*SSXNP"QL]"4PNMM"l!AAFmK"-NUV"QL]"<SMMUL"]NMTPUcN"[ZN"]NMU^L"XPSTNMM" QM" Q" ]\QR" XPSTNMM1" Q" TSVcULN]" NL]NQOSP" cN[aNNL" QL" UL[NPLQR" QL]" QL"N`[NPLQR" XPSTNMM+" %ZN" UL[NPLQR" XPSTNMM" PNYNPM" [S" [ZN" ]NMU^LNPHM" TPNQ[UON" XPSTNMMK"aZURN" [ZN" N`[NPLQR" PQ[ZNP" PNYNPM" [S" [ZN" QT[\QR" XPS]\T[" QL]" [ZN"VQPbN[" [S"aZUTZ" U["PNYNPM+"=ST\MUL^"ZNPN"SL"[ZN"]NMU^LNPHM"UL[NPLQR"]NMU^L"XPSTNMMK"-NUV"QL]"<SMMUL"TZQPQT[NPU_N"[ZUM"QM"qQL"U[NPQ[UON"XPSTNMM"[ZQ["TQLLS["LNTNMMQPURW"cN"SP^QLU_N]"QM"Q"RS^UTQRK" RULNQP" MNh\NLTNr" l-NUV" QL]"<SMMUL" 9EE;1" !Am+" %ZNW" NVXZQMU_N" [ZQ[" [ZN"PNQMSL" [ZQ[" [ZNMN" XPSTNMMNM" QPN" ]UYYUT\R[" [S" VQLQ^N" UM" [ZQ[" [ZNPN" UM" LS[" qSLN"XQP[UT\RQP"QLMaNP"[S"[ZN"]NMU^L"XPScRNVr"lUcU]+m+"%ZN"QLMaNP"UM"PQ[ZNP"ZU]]NL"UL"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"VQLW"YQT[SPM"ULOSRON]"UL"[ZN"XQP[UT\RQP"MU[\Q[USL"U["PNYNPM"[S1" [ZN" TSL[N`[+"2QOUL^"]UMT\MMN]" [ZN" QPTZU[NT[\PQR" ]NMU^L"XPSTNMM"aU[Z" QPTZU[NT[M"ULOSRON]"UL"[ZUM"M[\]W"UL"YSPVQR"UL[NPOUNaM"QM"aNRR"QM" ULYSPVQR"TSLONPMQ[USLMK"VW"N`XNPUNLTN"UM"[ZQ["[ZN"XSUL[M"QPN"PNXNQ[N]1"%ZNPN"QPN"V\R[UXRN"aQWM"[S"^S"QcS\["[ZUM"XPSTNMMK"QL]"[ZN"RQL^\Q^N"\MN]"[S"QP[UT\RQ[N"U["UM"ULTSLMUM[NL[+"#L"QL"UL[NPOUNa"aU[Z"QL"QPTZU[NT["ULOSRON]"UL"[ZN"%SaL"2QRR"XPSdNT[K"ZN"Q[[NVX[M"[S"]NMTPUcN"ZUM"]NMU^L"XPQT[UTN1""!=AAA?%:$%765$%6%06.-$%'@%6.6*8+$+%"'%)$-,.%:,"#9%:#$0$%8'(%6.6*8B$%"#$%/*61$9%

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h\S[Q[USL" MNNVM" [S"VU`" [aS"QXXPSQTZNMK"cS[Z"SY"aZUTZ"QPN"TNL[PQR" [S" [ZN"

QPTZU[NT[\PQR" ]NMU^L" XPQT[UTN1" !"'% 6.6*8B$2" QL]" [ZN" !@$$*,.-2I!+$.+,.-% :682+"7ZURN" [ZN" YUPM["VQW" QXXNQP"VSPN" MWM[NVQ[UTK" [ZN" RQ[[NP"VU^Z[" PNXPNMNL[" [ZN"VSPN"UL[\U[UON" QMXNT[+" %ZN" TSVcULQ[USL" cN[aNNL" [ZN" [aS" UM" LS[" \L\M\QR" QVSL^"XPQT[U[USLNPM" UL" [ZN" YUNR]+" #[" UM" SY[NL" QXXSUL[N]" QM" QL" UL[\U[UON" XPSTNMMK" UL" aZUTZ"TNP[QUL"aQWM"[S"!-$"%6**%"#$%:68%60'(.&2"QPN"NM[QcRUMZN]"[ZPS\^Z"N`XNPUNLTN+"#["UM"NVcS]UN]" UL" [ZN" XPQT[UTNK" Q" XSUL[" [ZQ[" LS[" SLRW" TZQPQT[NPU_NM" [ZN" YUNR]" SY"QPTZU[NT[\PQR" ]NMU^L" lN+^+"*\YY" !AA!mK" c\[" QRMS" S[ZNP" ]NMU^L" QPNQM" lN+^+"-RSVcNP^"!AACK"(S\PUMZ"9EEBm+""

A;""

"#L"[ZN"MQVN"UL[NPOUNaK"[ZN"QPTZU[NT["YPSV"[ZN"%SaL"2QRR"XPSdNT["NVXZQMU_NM"[ZQ["

[ZNPN"UMLH["SLN"aQW"[S"QXXPSQTZ"[ZNMN"[ZUL^M1"""qM$%-,;$% ,"%+'7$%5,.&%'@%+#6/$%6.&%+5$"1#%(/%+'7$%+/6",6*% @067$:'05+9%+'7$%

1'00$*6",'.+% 6.&% +'7$% &,6-067+9% "#0'(-#% :#,1#% :$% -$"% 6**% "#$+$% "#,.-+% "$+"$&Q%/,.-N/'.-A%G08%+'7$9%+5$"1#%+'7$9%"08%+'7$9%X#':%&'$+%"#6"%:'05J4%=>?%G#$0$%60$%6% *'"% '@% *$6&+% "'% /(**% 6"% "#$% +67$% ",7$9% +'% ,"4+% .'"% 0$6**8% +'7$"#,.-% "#6"% 16.% )$%)0'(-#"%,."'%6%-$.$06*%@'076"9%3%&'.4"%"#,.5A2%".^QULK"ZN"\L]NPRULNM"[ZN"TSVXRN`U[W"SY"YQT[SPM"[ZQ["QPN"ULOSRON]"UL"[ZUM"XPSTNMM"

SY"]NMU^LUL^+"#["UM"TSL[N`["]NXNL]NL[K"TSRRQcSPQ[USLQRK"UL[\U[UONK"XPQT[UTQRK"QL]"VQLW"S[ZNP" [ZUL^M+" " ." TSVVSL" YNQ[\PN" MNNVM" [S" cN" [ZQ[" U[" UM" !&,@@,1(*"% "'% $</*6,.% ,.%:'0&+2" QL]" QRMS" [S" cPUL^" !,."'% 6% -$.$06*% @'076"2+" 7N" VU^Z[" [Z\M" MQW" [ZQ["QPTZU[NT[\PQR"XPQT[UTN" UM"TZQPQT[NPU_N]"cW"OUM\QRU_UL^" PQ[ZNP" [ZQL"ONPcQRU_UL^"MbURRM"QL]"[ZQ["QPTZU[NT[M"TSVV\LUTQ[N"[ZPS\^Z"Q"RQL^\Q^N"SY"YSPV+".M"#"ZQON"S\[RULN]"UL"*ZQX[NP"CK"#"ZQON"\L]NP[QbNL"Q"L\VcNP"SY"UL[NPOUNaM"aU[Z"[PQULN]"QPTZU[NT[M+"<QLW"SY"[ZNMN"]PNa"]\PUL^"S\P"TSLONPMQ[USLK"QM"Q"VNQLM"[S"N`XRQUL"[ZNUP"XSUL[M+""""

IH!&45!97A4;=5A=C79>!?76G5@@;6:!=6D97M@!9!A7;@;@!

5NQ[ZNPcQPPSa"h\NM[USLM"aZN[ZNP"[ZN"QPTZU[NT["ZQM"cNNL"VQ]N"PN]\L]QL["UL"[ZN"]NMU^L"XPSTNMMK"QL]" UY" MSK"ZSa" [ZN"XPSYNMMUSLHM" U]NL[U[W"TQL" PN^QUL"M[PNL^[Z+"q=SP"QPTZU[NT[\PN" [S" PNVQUL"MU^LUYUTQL[" UL"S\P" [UVNK" U["V\M[" PN]NYULN" U[M"cQMUT" M\cdNT[Mr"l5NQ[ZNPcQPPSa"9EE!1",CmK"Q"XSUL["[ZQ["UM"QRMS"VQ]N"cW"S[ZNP"MTZSRQPM"lN+^+"*PSMcUN"!AAFK"=UMZNP"9EEEK"9EE!m+"2NPNK"U["MNNVM"[S"cN"QTbLSaRN]^N]"cW"XPQT[U[USLNPM"QL]"MTZSRQPM" QRUbN" [ZQ[" [ZN"XPSYNMMUSL" UM" Q[" Q" TPU[UTQR" d\LT[\PN+"%ZN"\LYSP[\LQ[N" TUPT\U["[ZQ[" MNNVM" [S"cN"M\^^NM[N]" UM" [ZQ["QPTZU[NT[M"VU^Z["T\PPNL[RW"cN"X\MZN]"]SaL" [ZN"RULN"SY"ULYR\NLTN"UL"[ZN"]NMU^L"XPSTNMM+"2NPNK"[ZN"RQTb"SY"ONPcQRU_UL^"TQXQTU[WK"aU[Z"PN^QP]M"[S"[ZN"QT[\QR"]NMU^L"TSL[PUc\[USL"UM"XSUL[N]"S\["QM"Q"XS[NL[UQR"[ZPNQ["[S"[ZN"QPTZU[NT[HM" XSMU[USL+" .M" SLN" SY" [ZN" QPTZU[NT[M" ULOSRON]" UL" [ZN" %SaL"2QRR" XPSdNT["XSUL[M"S\[1""!M$%#6;$%"'%0$6*,B$%"#6"%1'7/*$"$*8%&,@@$0$."%&$76.&+%60$%/*61$&%'.%601#,"$1"+%

"'&68A% P.&% ,@% :$40$% .'"% 6)*$% "'% *,+"$.% "'% "#'+$% +,-.6*+9% =>?% "#,+% +"(@@% 6)'("% "#$%601#,"$1"%6+%/*68,.-%6%7(1#%7'0$%$<"0';$0"$&%0'*$A%3@%:$40$%.'"%16/6)*$%'@%@61,.-%

AF""

"#6"9%3% "#,.5%:$%#6;$%6%/0')*$7A%=>?%34&%6*+'%+68%"#6"%:$%6+%601#,"$1"+%60$%@61$&%:,"#% =6.% $</$1"6",'.% '@?% )$,.-% 7(1#% 7'0$% ,.;'*;$&% ,.% "#$% &$)6"$% 6.&% ,.%1'77(.,16",.-% :,"#% 1*,$."+% 6.&% "#$% -$.$06*% /()*,1% 6)'("% "#$% 0'*$% :$% +#'(*&%61"(6**8%)$%/*68,.-A%"#L" [ZN" h\S[Q[USL" QcSONK" [ZN" QPTZU[NT[" PNYRNT[M" SL" MNONPQR" TZQRRNL^NM" [ZQ[" [ZN"

XPSYNMMUSL" UM" T\PPNL[RW" YQTUL^+" %ZN" ULTPNQMUL^" MNLMN" SY" ]UVULUMZUL^" Q\[ZSPU[W" UM"XSUL[N]" S\[K" ]\N" [S" MSTUN[QR" [NL]NLTUNM" M\TZ" QM" QL" ULTPNQMN]" ULOSRONVNL[" SY" [ZN"TRUNL[" SP^QLU_Q[USL+" 2NPNK" RQL^\Q^N" QM" Q" ONPcQRU_UL^" TQXQTU[W" TSVNM" YSP[ZK" aU[Z"PNYNPNLTN" [S" [ZN" QPTZU[NT[" QM" XRQWUL^" Q" !7'0$% $<"0';$0"$&% 0'*$2K" cNUL^" !7'0$%,.;'*;$&% ,.% "#$% &$)6"$2" QL]" !1'77(.,16",.-% :,"#% 1*,$."+2+" &NTQRRUL^" *\YYHM"S\[RULN"SY" [ZN"TSL[PQ]UT[USL"cN[aNNL"[ZN"XPSYNMMUSLHM" U]NQ"SY" [ZN"U]NQR"QL]"[ZQ["SY"MSTUN[QR" U]NSRS^WK" [ZUM" QPTZU[NT[" MNNVM" [S" QTbLSaRN]^N" [ZN" ]URNVVQ+" %S" [ZN"XPSYNMMUSLQR"QPTZU[NT[K"[ZN"MU[\Q[USL"UM"]UYYUT\R["SL"cS[Z"RNONRM1"[ZNW"RSMN"PNTS^LU[USL"QVSL^"XNNPM"cW"PNRQ[UL^"VSPN"TRSMNRW"[S"MSTUN[WK"QL]"QPN"YQTN]"aU[Z"PNh\UPNVNL[M"[ZQ["[ZNW"QPN"LS["[PQULN]"[S"ZQL]RN+"""

NH!+789:;<5M!5:M!C@57!?97=;A;?9=;6:*!?6=5:=;9>;=Q!9:M!=4759=!!

7ZQ[" aURR" Q" TRSMNP" TSL[QT[" aU[Z" [ZN" TRUNL[" [ZPS\^Z" N`[NL]N]" NL]" \MNP"XQP[UTUXQ[USL"VNQL"[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMo"(SNM"U["XPSOU]N"[ZN"QPTZU[NT["aU[Z"k"SP"]NXPUON"[ZN"QPTZU[NT["SY"k"QL"SXXSP[\LU[W"[S"PN^QUL"Q\[ZSPU[Wo"'LN"SY"[ZN"QPTZU[NT[M" UL" [ZN" %SaL" 2QRR" XPSdNT[" TSLMU]NPM" [ZN" TZQRRNL^N" [ZQ[" NL]" \MNP"XQP[UTUXQ[USL"VU^Z["PNYRNT[1""!M,"#,.%"#$%*6+"%YZ%8$60+9%"#$0$%#6+%)$$.%6%)''7%'@%(.&$0+"6.&,.-%601#,"$1"(0$%

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

AB""

"%ZN"h\S[Q[USL"VU^Z[" cN" MNNL" QM" Q" TSVVNL[" [S" Q" YNa"SY" [ZN" QMXNT[M" [ZQ["aNPN"

XSUL[N]"S\["UL"[ZN"UL[PS]\T[USL"[S"[ZUM"[ZNMUMK"aU[Z"PNYNPNLTN"[S"[ZN"ULTPNQMN]"YST\M"SL"UL]UOU]\QR"LNN]M"QL]"aUMZN]"UL"XPSTNMMNM"SY"SP^QLU_Q[USLQR"]NONRSXVNL[+"2NPNK"[ZN"QPTZU[NT["UL"YQT["U]NL[UYUNM"Q"XQP["SY"[ZN"XS[NL[UQR"[ZQ["[ZN"TRSMNP"RULb"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM"VU^Z["ULOSRONK"aZNPN"QPTZU[NT[\PN"UM"MNNL"QM"Q"aQW"[S"N`XPNMM"UL]UOU]\QRU[W"QL]"U]NL[U[W"UL"QL"SP^QLU_Q[USL+"%ZUM"ULTPNQMN]"UL[NPNM["UL"QPTZU[NT[\PN""VU^Z[" ZNRX" [ZN" QPTZU[NT[" cQTb" SL" TNL[NP" M[Q^N" " UL" [ZN" c\UR]UL^" XPSTNMM+" 0\[VQL"XSUL[N]" S\[" [ZN" ULTPNQMUL^" PSRN" SY" TRUNL[M" QRPNQ]W" cQTb" UL" !A,,K" ]UMT\MMUL^" ZSa"]NONRSXVNL[M" aU[ZUL" [ZN" c\UR]UL^" MNT[SP" qXPS]\TN]" TRUNL[M" aZS" QPN" PNQMSLQcRW"QP[UT\RQ[N" QL]" N`XRUTU[" UL" M[Q[UL^" [ZN" TPU[NPUQ" YSP" NOQR\Q[UL^" c\UR]UL^M" QL]" [ZN"MNPOUTNM" SY" QPTZU[NT[MK" NONL" [ZN" XPSTN]\PNM" QL]" VN[ZS]M" QTTSP]UL^" [S" aZUTZ" Q"c\UR]UL^" MZS\R]" cN" ]NMU^LN]r" l0\[VQL" !A,,1" F;m+" %ZN" [NL]NLTW" [SaQP]M" VSPN"TRUNL[" ULOSRONVNL[" MNNVM" [S"ZQON" ULTPNQMN]"SONP" [ZN"WNQPMK"aU[Z" PNYNPNLTN" [S" [ZN"]NMUPN"[S"NL^Q^N"UL"XPSTNMMNM"[ZQ["ULTR\]N"TZQL^N"QL]"SP^QLU_Q[USLQR"]NONRSXVNL["l8SS"N["QR+"9EEBm+""-\["QM"U["ZQM"cNNL"XSUL[N]"S\["V\R[UXRN"[UVNM"[ZPS\^Z"ULYSPVQR"TSLONPMQ[USLM"#"

ZQON" ZQ]" aU[Z" PNXPNMNL[Q[UONM" YPSV" [ZN" XPSYNMMUSL" UL" [ZN" TS\PMN" SY" [ZUM" M[\]W"QPTZU[NT[M"^NLNPQRRW"NVXZQMU_N"[ZN"RSL^"[PQ]U[USL"YSP"Q"TRSMN"QL]"XNPMUM[NL["]UQRS^\N"aU[Z" TRUNL[" QL]" \MNP" cW" M[Q[UL^" [ZQ[1" !G#$% 601#,"$1"% #6+% 6*:68+% "6*5$&% :,"#% "#$%(+$0H2%""%ZN" TRQUV" QXXNQPM" PNQMSLQcRN" QM" [ZN" XPS]\T[USL" SY" QL" QPTZU[NT[\PQR" XPS]\T["

ULOSRONM" M\cM[QL[UQR" TSL[QT[" aU[Z" [ZN" TRUNL[" aZS" X\PTZQMNM" [ZN" TSVVS]U[W+"2SaNONPK" U[" ]NVQL]M" Q" TRSMNP" RSSb" Q[" [ZN" LQ[\PN" SY" M\TZ" Q" PNRQ[USLMZUX+" .L"UVXSP[QL["XSUL["ZNPN" UM" [ZQ[" [ZN" PSRN"SY" [ZN" TRUNL[" TQL"cN" PNXPNMNL[N]"cW"]UYYNPNL["XNPMXNT[UONM+"#["TS\R]"cN"Q"]NONRSXNPK"aZS"ZQM"X\PTZQMN]"[ZN"MU[N"YSP"]NONRSXVNL["X\PXSMNM" k" UL" SP]NP" [S" MNRR" SYY" [ZN" XPSXNP[UNM" [S" M\cMNh\NL[" ONL]NNM+" #L" M\TZ" Q"MN[\XK" [ZN" NL]" \MNP" aURR" cN" \LbLSaL" [S" [ZN" ]NMU^LNPM" aZURM[" ]NMU^LUL^+" -\[" [ZN"TRUNL["VU^Z["QRMS"cN"Q"[SX"VQLQ^NP"SY"QL"SP^QLU_Q[USL"[ZQ["QUVM"[S"\MN"[ZN"c\UR]UL^"[S"M\XXSP["SP^QLU_Q[USLQR"]NONRSXVNL[+"%ZUM"UM"[ZN"MU[\Q[USL"UL"cS[Z"SY"[ZN"TQMNM"UL"[ZUM"M[\]W+"%ZN"[WXN"SY"TSRRQcSPQ[USL"Q["M[QbN"ZNPN"MNNVM"[S"PNXPNMNL["Q"M\cM[QL[UQRRW"N`[NL]N]" ONPMUSL" SY" [ZN" QPTZU[NT[HM" [PQ]U[USLQR" TSL[QT[" aU[Z" [ZN" TRUNL[+" 6\TZ"NLRQP^N]"ULOSRONVNL["SY"NL]"\MNPM"MNNVM"[S"STT\P"ULTPNQMUL^RWK"NMXNTUQRRW"UL"RQP^NP"c\UR]UL^" XPSdNT[M" l0\[VQL" !A,,m+" #LYSPVQR" TSLONPMQ[USLM" #" ZQON" ZQ]" aU[Z"

A?""

QPTZU[NT[M"aU[ZUL"[ZN"SP^QLU_Q[USLM"ULOSRON]"UL"[ZUM"M[\]W"TSLYUPV"[ZUM"[NL]NLTWK"c\["[ZNW"QRMS"NVXZQMU_N" [ZQ[" [ZN"QPTZU[NT[M"SY[NL"]S"LS["XQP[QbN" UL" [ZNMN"XPSTNMMNM"SY"TRUNL[" ULOSRONVNL[+" 2NPNK" [ZN" TRSMN" TSL[QT[" aU[Z" [ZN" NL]" \MNP" PNXPNMNL[Q[UONM" UM"^NLNPQRRW" [QbNL" TQPN" SY" S\[MU]N" SY" [ZN" YUPV+" %ZN" QPTZU[NT["VQW" [Z\M" QRaQWM" ZQON"[QRbN]"aU[Z"[ZN"\MNPK"c\["[ZN"[WXN"SY"N`[NL]N]"XQP[UTUXQ[USL"QT[UOU[UNM"[ZQ["UM"Q["M[QbN"UL"[ZUM"M[\]W"VU^Z["cN"MQU]"[S"ULOSRON"Q"]UYYNPNL["[WXN"SY"TSLONPMQ[USL+"'LN"SY"[ZN"QPTZU[NT[M"ULOSRON]"UL"[ZN"%SaL"2QRR"XPSdNT["]NMTPUcNM"[ZN"XPNMNL["MU[\Q[USL"UL"[ZN"YSRRSaUL^"aQW1"""!=G?#,+% $.&% (+$0% /60",1,/6",'.% #6+% 6*:68+% )$$.% #$0$9% )$16(+$% 6% -,@"$&% 1*,$."%

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

cN[aNNL" [ZN" TRUNL[" QL]" [ZN" QPTZU[NT[+" 7ZQ[" TZQPQT[NPU_NM" [ZN" T\PPNL[" TSL]U[USLMK"ZSaNONPK" UM" [ZQ[" U[" !#6+% )$1'7$% /0,'0,",B$&2+" #L" [ZN" h\S[Q[USLK" [ZN" QPTZU[NT["UL]UTQ[NM"[ZQ["[ZNPN"UM"VSPN"SY"U[K"QL]"[ZQ["[ZUM"OSR\VN"PNXPNMNL[M"Q\[ZSPU[W+"-\["ZN"QRMS" UL]UTQ[NM" [ZQ["!"#$%-,@"$&%1*,$."2"bLSaM"aZNPN"ZUM"SP^QLU_Q[USL" UM"^SUL^"QL]"ZSa"[S"^N["[ZNPN+"5Q[NP"UL"[ZN"MQVN"UL[NPOUNaK"ZN"XSUL[M"S\["[ZQ["Q"c\UR]UL^"XPSdNT["ZQM"QRaQWM"PNXPNMNL[N]"Q"ONZUTRN"[S"NLZQLTN"lbLSaLm"QR[NPQ[USLM"[S"SP^QLU_Q[USLQR"TSL[N`[M+"%ZN"XSMU[USL"cPUL^M"\M"cQTb"[S"[ZN"]UMT\MMUSL"XPSXSMN]"UL"[ZN"UL[PS]\T[USL"[S"[ZUM" [ZNMUM"lTY+"*ZQX[NP"!m"QL]"[S"aZQ["[ZN"cQMUT"X\PXSMN"SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"VU^Z["cN+"#M" [ZN"X\PXSMN"[S"M\XXSP["TSZNPNLTN" cN[aNNL" [ZN" YSP[ZTSVUL^" MXQ[UQR" YPQVNaSPb" QL]" [ZN" SP^QLU_Q[USLQR"XPQT[UTN" U[" UM" M\XXSMN]" [S" QTTSVVS]Q[No" #M" U[" [S" M\XXSP[" ]UMT\MMUSLM" QcS\["SP^QLU_Q[USLQR"XPQT[UTN"UL"Q"MXQ[UQR"TSL[N`["UL"SP]NP"YSP"LNa"bLSaRN]^N"QcS\["M\TZ"aSPb" XPSTNMMNM" QL]" PNRQ[USLMZUXM" [S" STT\Po" %ZN" YUPM[" QXXPSQTZ" YST\MNM" SL" [ZN"bLSaL"l[ZN"XPNMNL["XPQT[UTNmK"aZURN"[ZN"RQ[[NP"PQ[ZNP"YST\MNM"SL"[ZN"\LbLSaLK"QM"Q"]NMU^L"TQ[QRW_NP"l[ZN"Y\[\PN"XPQT[UTNm+"""

A,""

.L"QPTZU[NT[" UL".PbU[NVQK" LS[" ]UPNT[RW" ULOSRON]" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[K"c\["QTT\M[SVN]"[S"aSPbUL^"aU[Z"NL]"\MNP"XQP[UTUXQ[USL"QM"QL"UL[N^PQ[N]"XQP["SY"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"PNYRNT[M1""""!=3?@%:$%0$:,.&% "#$% "6/$9%:$%#6&% "#,+%&,6*'-($%:,"#% "#$%76.6-,.-%&,0$1"'0% ,.%

"#$% '*&% &68+A% =>?% =\$0$?% 8'(% "0(+"$&% "#6"% "#$% &,0$1"'0% #6&% 6% 1*$60% ,76-$% '@% #,+%'0-6.,B6",'.%6.&%:#$0$%#$%:6."$&%"'%-'A%3.%'(0%+'1,$"8%"'&689%+"6@@%&$76.&+%"'%)$%7'0$%,.;'*;$&A%=>?%P*+'9%="#$%&,0$1"'0?%&'$+.4"%0$6**8%5.':%6**%"#$%"#,.-+%-',.-%'.%,.%#,+%1'7/6.8A%S,0$1"'0+%6&7,"%"#6"%'/$.*8%"'&68A%G'%"#$,0%+"6@@%"''A2""""7U[Z"PNYNPNLTN"[S"ZSa"Q"YSP[ZTSVUL^"PNRQ[USLMZUX"cN[aNNL"QPTZU[NT["QL]"TRUNL["

VU^Z["YSPVK"[ZUM"LS[USL"SY"[ZN"^UY[N]"TRUNL["MNNVM"UVXSP[QL["[S"Q]]PNMM+"#M"[ZN"^UY[N]"TRUNL[K" UL"YQT[K"SLN"aZS"bLSaM"k"SP"]SNMLH["bLSaK"aZNPN"MZN"UM"^SUL^o"%ZN"RQ[[NP"QXXPSQTZ"VU^Z["UL]UTQ[N"Q"TRSMNP"TSL[QT["cN[aNNL"[ZN"[aS"XQP[UNM+"2NPNK"[ZN"TRUNL["!&'$+.4"%0$6**8%5.':2"QL]"!"#$%+"6@@%&$76.&+%"'%)$%7'0$%,.;'*;$&2"QL]"U["UM"[S"[ZUM"MU[\Q[USL" [ZN" QPTZU[NT[" UM" M\cdNT[N]+" %ZN" ]UMT\MMUSL" XS[NL[UQRRW" PNYRNT[M" [ZN"QPTZU[NT[HM"QXXQPNL["LNN]"[S"PN^QUL"Q\[ZSPU[W"UL"[ZN"QPTZU[NT[ITRUNL["PNRQ[USLMZUX+"%ZN"[aS"h\S[Q[USLM"QcSON"VU^Z["LS["cN"MNNL"QM"SXXSMU[NMK"c\["PQ[ZNP"QM"PNXPNMNL[UL^"Q"[NLMUSL"[ZQ["VU^Z["cN"\MNY\R"[S"N`XRSPN"UL"Y\P[ZNP"M[\]UNM"QL]"]NcQ[NM+""<SOUL^"[S"VW"YULQR"TSVVNL["[S"[ZUM"XPSOUMUSLQR"S\[RULN"SY"[ZN"T\PPNL["MU[\Q[USLK"

Q"YNa"QPTZU[NT[M"#"ZQON"[QRbN]"aU[Z"UL"[ZN"TS\PMN"SY"[ZN"M[\]W"QRMS"NVXZQMU_N"[ZQ["Q"TRSMNP"TSL[QT["aU[Z"[ZN"TRUNL["SP^QLU_Q[USL"LS["SLRW"MNPONM"[S"]NMTPUcN"[ZN"[WXNM"SY"QT[UOU[W" [ZQ[" [ZN" MXQTN" UM" M\XXSMN]" [S" QTTSVVS]Q[N+".RMSK" [ZN" N`[NL]N]"]UQRS^\N"cN[aNNL" QPTZU[NT[" QL]" NL]" \MNP" PNXPNMNL[Q[UONM" VU^Z[" cPUL^" QcS\[" [ZS\^Z[M" QL]"U]NQM" [ZQ[" [ZN" [PQ]U[USLQR" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" TQLLS[" XPSOU]N" aU[Z+" %ZN"ULX\[" ^UONL"cW" [ZN" NL]"\MNP" UM" ZNPN" MNNL" QM" Q" XS[NL[UQR" TQ[QRW_NP" [S"XPS]\TN"LNa"QPTZU[NT[\PN+".L"QPTZU[NT["ULOSRON]"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["N`XRQULM1"""!3%"6*5%6)'("%6.1#'0,.-%"#$%"#,.-+%:$%+6:%,.%"#$%/0'1$++9%"'%-$"%"#$7%6.1#'0$&%

,."'% "#$% 601#,"$1"(0$9% +'% "#6"% ,"% )$167$% 1'.+$C($.",6*% '.% 6% +/6",6*% *$;$*% =>?A%=G?#6"%,"%.'"%'.*8%167$%&':.%"'>6%C($+",'.%'@%,."$0,'0%&$+,-.%,.%"#$%;$08%$.&Q%X-$"%(+%+'7$%-0$$.%:6**+%6.&%+'7$%@(..8%@(0.,"(0$4A%U("%"#6"%,"9%"'%6%7(1#%#,-#$0%$<"$."%)$167$%6%:68%'@% 6//0'61#,.-% ="#$%&$+,-.%/0'1$++?9% "#6"% ,"%:6+%)0'(-#"% ,."'% "#$%:#'*$% +"0(1"(0$% '@% "#$% #'(+$9% 6.&% $+/$1,6**8% "#$% :68% 8'(% 7';$% 60'(.&% ,.% ,"9%)$16(+$%"#6"4+%;$08%0$-(*6",.-A2%"

AA""

"*SLMU]NPUL^" [ZN" T\PPNL[" MU[\Q[USLK" U[" UM" LS[" TRNQP" aZN[ZNP" SP^QLU_N]" NL]" \MNP"

XQP[UTUXQ[USL"UM"QcS\["[S"NM[QcRUMZ"aU[ZUL"[ZN"YUNR]"SY"QPTZU[NT[\PQR"]NMU^L+"#["QXXNQPM"[S" cN" NM[QcRUMZUL^" QM" Q" MSTUN[QR" PNh\UPNVNL[K" c\[" U[M" M[Q[\M" QVSL^" QPTZU[NT[M" UM"\LTRNQP+" %ZUM" UL]UM[ULT[LNMM"VU^Z[" cN" cQMN]" SL" ^NLNPQR" ZNMU[Q[USLK" ]\N" [S" [ZQ[" QRR"XQP[UNM" ULOSRON]" UL" [ZNMN" XPSTNMMNM" QPN" ULN`XNPUNLTN]+".M" XSUL[N]" S\[" QcSONK" [ZN"QPTZU[NT[" XPSYNMMUSL" ZSR]M" Q" ZU^ZRW" UL]UOU]\QR" QXXPSQTZK" aZUTZ" PNMU]NM" UL" [ZN"UL[NPMNT[USL"cN[aNNL"UL[\U[USLK"QcM[PQT["bLSaRN]^N"QL]"MWM[NVQ[UT"[SSRM+"%ZN"aQWM"SY"]SUL^"[ZUL^M"]UYYNP"YPSV"QPTZU[NT["[S"QPTZU[NT["QL]"]SNM"LS["MNNV"[S"ZSR]"VQLW"^NLNPQR"^\U]NRULNM+"#[" UM"YPSV"[ZUM"XSUL["SY"]NXQP[\PN"[ZQ["[ZN"LS[USL"SY"UL[N^PQ[UL^"SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" LNN]M" [S" cN" TSLMU]NPN]+" #[" XPSOU]NM" M\cM[QL[UQR"TZQRRNL^NMK"QM"[ZN"ULX\["YPSV"[ZN"NL]"\MNPM"UM"QRMS"RUbNRW"[S"cN"ZU^ZRW"TSVXRN`"QL]"UL]UM[ULT[+"#"aURR"PN[\PL"[S"[ZNMN"]URNVVQMK"aZUTZ"ULOSRON"[ZN"TSRRQcSPQ[USL"cN[aNNL"QPTZU[NT[M"QL]"NL]"\MNPMK"QL]"QRMS"[ZQ["cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"lTY+"MNT[USLM"F*"QL]"B-K"QL]"*ZQX[NP"?m+"""

!2*#0%4&*2%*,&)"(&$2%&*(!2+$%!$&'(")%44+"#1&3""/+#0&)"(&$2%&#%5&*''("*!2&&

&NTQRRUL^" [ZN" h\S[Q[USL" UL" [ZN" UL[PS]\T[USL" [S" [ZUM" TZQX[NPK" [ZN" YSPVNP"<("SY".PbU[NVQ" XPSXSMN]" Q" L\VcNP" SY" TZQRRNL^NM" [ZQ[K" YPSV" ZUM" OUNaXSUL[K" aURR"ULTPNQMUL^RW"TZQPQT[NPU_N"[ZN"YSP[ZTSVUL^"aSPb"SY"XPSYNMMUSLQR"QPTZU[NT[M+"2NPNK"ZN"XPN]UT[N]" [ZQ[" Q" PNRSTQ[USL" SY" [ZN" QPTZU[NT[HM" XSMU[USL" UL" [ZN" ]NMU^L" XPSTNMM" UM" Q["ZQL]K" QL]" [ZQ[" TSL]U[USLM" YSP" QPTZU[NT[\PQR" XPS]\T[USL"aURR" TZQL^N+".VSL^" S[ZNP"[ZUL^MK" ZN" M\^^NM[M" [ZQ[" [ZN" ]NMU^L" XPSTNMM" aURR" ULTR\]N" Q" VSPN" MU^LUYUTQL["ULOSRONVNL["SY"[ZN"NL]"\MNPM"SY"[ZN"c\UR]UL^+""7ZQ["]S"ZUM"XPSXSMU[USLM"VNQL"SL"Q"XPQT[UTQR"RNONR"QL]"ZSa"VU^Z["[ZNMN"QYYNT["

[ZN"aQW" [ZQ["XPSYNMMUSLQR"QPTZU[NT[M"aSPbo"%ZN"<(HM"YST\M"SL"QMXNT[M" RUbN"!.$:%"8/$+% '@% 7$"#'&+2K" !:#$0$% $.&% (+$0+% 60$% 7'0$% $<"$.+,;$*8% ,.;'*;$&% ,.% ;60,'(+%/#6+$+%'@%"#$%&$+,-.%/0'1$++2K"QL]"aZNPN"[ZNMN"NYYSP[M"QPN"MNNL"QM"!,."$-06"$&%6.&%

!EE""

+8.1#0'.,B$&% 61",;,",$+2+".M" #"aURR" PN[\PL" [S" UL"*ZQX[NP" BK" [ZNMN" QMXNT[M" MNPON" QM"N`QVXRNM"SY".PbU[NVQHM"^NLNPQR" YST\M"SL"MSVN"SY" [ZN"T\PPNL[" [NL]NLTUNM" [ZQ["QPN"RUbNRW"[S"ULYR\NLTNK"LS["SLRW"[ZN"[PQ]N"SY"QPTZU[NT[\PQR"]NMU^L"QM"Q"c\MULNMMK"c\["QRMS"QPTZU[NT[\PQR"]NMU^L"XPQT[UTN+""6NONPQR"SY"ZUM"XPN]UT[USLM"aNPN"TZQRRNL^N]"QL]"[NM[N]"UL" [ZN"TS\PMN"SY" [ZN"]NONRSXVNL["SY" [ZN"<UbQ]S"2S\MN"XPSdNT[+" #L" [ZN" PNVQULUL^"XQP["SY"[ZUM"TZQX[NPK"#"Q[[NVX["[S"RN["[ZN"<("]UMT\MM"Q"YNa"SY"[ZN"UVXRUTQ[USLM"[ZQ["[ZN" XPSYNMMUSLQR" QPTZU[NT[" VQW" N`XNT[" [S" cN" M\cdNT[N]" [S" MZSP[RW+" #" aURR" SLRW"TSVVNL[" cPUNYRW" SL" ZUM" M[Q[NVNL[M" ZNPNK" c\[" [ZN" XZNLSVNLQ" ZN" PNYNPM" [S"aURR" cN"PNOUMU[N]"UL"[ZN"YSP[ZTSVUL^"TZQX[NPM"FK"B"QL]"?+"""

)H!(5A6:@;M57;:8!6G!=45!97A4;=5A=!9@!9!?76G5@@;6:9>!9MB;@67!

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h\S[Q[USLK" [ZN" <(" XSUL[M" S\[" [ZQ[" [ZN" XPSYNMMUSLQR" QPTZU[NT[HM"

TSLONL[USLQR" aQW" SY" XPSXSMUL^" Q" ]NMU^L" MSR\[USL" LS" RSL^NP" MNNVM" [S" ZQON" [ZN"]NMUPN]"S\[TSVN+"%ZN"[UVNM"SY"[ZN"N`XNP["QPTZU[NT["aZS"bLNa"ZNP"TRUNL[HM"cNM["QPN"^SLN+".RMSK"ZN"MNNVM"[S"UL]UTQ[N"[ZQ["QPTZU[NT[M"QPN"LS["[PQULN]"[S"TSVXPNZNL]K"RN["QRSLN"ZQL]RN"aZQ[" ^SNM"SL" UL"SP^QLU_Q[USLQR" TSL[N`[M+"2N" TQRRM" YSP" LNa"VN[ZS]M"[ZQ["aS\R]"PNh\UPN"!6%&,@@$0$."%"8/$%'@%1'**6)'06",'.2"cN[aNNL"[ZN"QPTZU[NT["QL]"[ZN"TRUNL[+"7ZQ["]S"[ZNMN"LNa"VN[ZS]M"TSL[QUL"SL"Q"VSPN"XPQT[UTQR"RNONRo""'

OH!.:A759@;:8!=45!G6AC@!6:!=45!C@57!!

!G#$%:68%3%"#,.5%:$4;$%"0,$&%"'%/'+,",'.%'(0+$*;$+AA9%"#$%7$"#'&%'@%(.1';$0,.-%"#$% 1*,$."4+% (.1#60"$&% 0$C(,0$7$."+% ,+% +'7$"#,.-% "#6"% 16.% '.*8% )$% &'.$% "'-$"#$0%:,"#%"#$%1*,$."A%]'0%":'%0$6+'.+Q%%'.$%,+%"#6"%:$%.$$&%"'%-$"%7(1#%&$$/$0%,."'%6.%

!E!""

(.&$0+"6.&,.-%'@%:#6"%"#$%1*,$."4+%0$C(,0$7$."+%60$%6.&%#':%:$%16.%10$6"$%6&&$&%;6*($%"'%"#$7A%U("%6*+'%="#6"%:$%+$1(0$?%"#6"%"#$%1*,$."%/0'&(1$+%"#$%+67$%"8/$%'@%*'-,1+9% ,.% '0&$0% @'0% "#$% @,.6*% &$+,-.% +'*(",'.% "'% 765$% +$.+$% "'% "#$7% =>?A% G#,+%7$6.+9% "#6"% "#$% 1*,$."4+% 61"(6*% /60",1,/6",'.% ,.% &,+1*'+,.-% "#$% (.1#60"$&%0$C(,0$7$."+9%#6+%)$$.%10(1,6*%"'%(+A2"""%ZN" XQP[UT\RQP" VN[ZS]M" [ZQ[" ZQON" cNNL" \MN]" UL" .PbU[NVQK" UL" SP]NP" [S" MNT\PN"

aZQ[" [ZN"<("TZQPQT[NPU_NM" QM"!"#$% 1*,$."4+% 61"(6*% /60",1,/6",'.% ,.%&,+1*'+,.-% "#$%(.1#60"$&%0$C(,0$7$."+2" UM" UL[NPQT[UON"aSPbMZSXMK" UL[NPOUNaM"QL]"M\PONWM+"#L" [ZN"M[Q[NVNL[" QcSONK" [ZN"<(" UL]UTQ[NM" [ZQ[" [ZN" TSL[QT["aU[Z" [ZN" TRUNL[" UL" [ZUM" ]NMU^L"XPQT[UTN" UM" TRSMNP" [ZQL" UL" [PQ]U[USLQR" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM+" #[" ULOSRONM"]UPNT[" XQP[UTUXQ[USL" cW" QL" N`[NL]N]" ^PS\X" SY" NL]" \MNPM" QL]" U[" ZQXXNLM" QM" QL"UL[N^PQ[N]"XQP["SY"[ZN"]NONRSXVNL["SY"Q"]NMU^L"MSR\[USL+"$S["]N[QTZN]"YPSV"U[K"c\["PQ[ZNP"Q[[QTZN]"[S"U[+"-\["aZQ["UM"VSPNK"U["QRMS"UL]UTQ[NM"[ZQ["[ZN"TRUNL["SP^QLU_Q[USL"U[MNRY"^SNM"[ZPS\^Z"Q"TNP[QUL"XPSTNMM"UL"[ZN"TS\PMN"SY"[ZN"]NMU^L"XPSTNMM"!,.%'0&$0%@'0% "#$% &$+,-.% +'*(",'.% "'% 765$% +$.+$% "'% "#$72+" %ZUM" ULOSRONM" [ZQ[" [ZN" TRUNL["SP^QLU_Q[USL"cNTSVNM"aZQ["#"TZQPQT[NPU_N]"QM"Q"nVSOUL^"[QP^N[H"UL"[ZN"UL[PS]\T[USL"[S"[ZUM"TZQX[NP+"#"aURR"PN[\PL"[S"[ZUM"XSUL["UL"*ZQX[NP"?+""""

TH!Y76P!=45!869>!=6!=45!:55M@!9:M!G76P!=45!>;:597!=6!=45!

A;7AC>97!

!M#6"%:$4;$%+6,&%,+%"#6"%:$%&'.4"%+"60"%)8%"08,.-%"'%,&$.",@8%"#$%-'6*9%)("%06"#$0%)8%"08,.-%"'%,&$.",@8%"#$%.$$&+A%3"%,+%"#$%.$$&+%"#6"%-(,&$%"#$%-'6*9%.'"%"#$%6""$7/"%"'%@,.&%"#$%-'6*%6.&%"#$.%"'%#$6&%"':60&+%,"A2%"%ZN"h\S[Q[USL"PNXPNMNL[M"Q"TNL[PQR"MZUY[" UL"XNPMXNT[UON+" #LM[NQ]"SY"QXXPSQTZUL^"

[ZN" ]NMU^L" XPSTNMM" YPSV" Q" 5.':." XSUL[" SY" ]NXQP[\PN" cQMN]" SL" TNP[QUL" TSL]U[USLM"]NXUT[N]"cW"[ZN"TRUNL[K"ZN"M\^^NM[M"[ZQ["[ZN"PNh\UPNVNL[M"QPN"\LTSONPN]"UL"Q"V\[\QR"XPSTNMM""'-$"#$0"aU[Z"[ZN"TRUNL[+".^QULK"Q"TRSMN"QL]"TSL[UL\S\M"Q[[QTZVNL["cN[aNNL"TRUNL[" QL]" ]NMU^LNP" MNNVM" [S" cN" ZU^ZRU^Z[N]+" #L" Q" [PQ]U[USLQR" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMK" [ZN" TSLTNX[\QR" ]NMU^L" U]NQ" aS\R]" cN" U]NL[UYUN]" cQMN]" SL" MSVN" &$@,.$&"TRUNL[" PNh\UPNVNL[MK" YPSV" aZUTZ" Q" VQUL" ]NMU^L" TSLTNX[" aS\R]" NVNP^N+" .M" QL"QPTZU[NT[" ULOSRON]" UL" [ZN"<UbQ]S"2S\MN" XPSdNT[" N`XRQULM1"!G#$%:68% 6% *'"9% *'"% '@%

!E9""

601#,"$1"+%:'05%,+%)8%+68,.-Q%@,0+"%:$%.$$&%"'%5.':%:#6"%'(0%)6+,1%1'.1$/"%,+%-',.-%"'%)$A%M$%.$$&%"#$%';$06**%,&$6A2%"%%ZN" LSONR[W" UL" [ZN" <(HM" QXXPSQTZ" UM" [ZQ[" [ZN" QPTZU[NT[\PQR" ]NMU^L" TSLTNX["

MZS\R]"NVNP^N"cW"\LTSONPUL^"OQPUS\M"QMXNT[M"YPSV"[ZN",.+,&$%'@"[ZN"SP^QLU_Q[USLQR"YPQVNaSPb"lYPSV"!"#$%.$$&+2m+"2NPNK" [ZN"TSRRQcSPQ[USL"aU[Z" [ZN"TRUNL["QXXNQPM" [S"cN"VSPN"TSVXPNZNLMUONK" UL" [ZN"MNLMN"[ZQ[" U[" UM"cNTSVUL^"QL"UL[N^PQ[N]"XQP["SY" [ZN"]NMU^L"XPSTNMM+"""%ZN" <(" NRQcSPQ[NM" Y\P[ZNP" SL" [ZUM" TZQL^N" UL" XNPMXNT[UON" cW" XPSXSMUL^" QL"

Q]]U[USLQR"MZUY[1"YPSV"Q"RULNQP"[S"Q"TUPT\RQP"QXXPSQTZ"[S"[ZN"]NMU^L"XPSTNMM+%%!3"%,+%,.%@61"%6%)0$65%:,"#%"#$%)(,*&,.-%/0'1$++%6+%6%*,.$60%/0'1$++>%M#$.%8'(%

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h\S[Q[USLK" [ZN"<(" X\[M" QL" Q]]U[USLQR" RNONR" UL[S" [ZN" LNa" XNPMXNT[UONK"

YPSV" aZUTZ" [ZN" QPTZU[NT[" TQL" QXXPSQTZ" [ZN" ]NMU^L" XPSTNMM+" $S[" SLRW" QPN" [ZN"PNh\UPNVNL[M" U]NL[UYUN]" UL" QL" UL[NPQT[UON" XPSTNMM" aU[Z" [ZN" NL]" \MNPMK" c\[" [ZNMN"PNh\UPNVNL[M" QPN" QRMS" RUbNRW" [S" TZQL^NK" N`XQL]" QL]" PNRSTQ[N" QM" Q" PNM\R[" SY" [ZN"TSRRQcSPQ[USL+"2N"M\^^NM[M"Q"VN[QXZSPUTQR"MZUY["cW"QXXPSQTZUL^"[ZN"]NMU^L"XPSTNMM"QM"Q"TUPT\RQP"PQ[ZNP"[ZQL"Q"RULNQP"XPSTNMM+"#L"Q"TUPT\RQP"XPSTNMM"WS\"YNN]"UL[S"[ZN"LN`["XZQMN"UL"Q"RSSX"[ZQ["[ZN"<("TZQPQT[NPU_NM"QM"!6.%,"$06",;$%:'05%/0'1$++2+".L]"QM"ZN" QRMS" XSUL[M" S\[K" M\TZ" QL" SL^SUL^" NL]NQOSP" ZQM" UVXRUTQ[USLM" LS[" SLRW" YSP" [ZN"TRUNL[K" c\[" QRMS" YSP" [ZN" QPTZU[NT[+" %ZN" LS[USL" SY" U[NPQ[USL" VU^Z[" QRMS" PNTQRR" [ZN"h\S[Q[USL"[ZQ["UL[PS]\TN]"[ZUM"TZQX[NPK"UL"aZUTZ"[ZN"<("XNPTNUONM"[ZN"aSPb"SY"QL"QPTZU[NT["QM"!6%+'1,6*%/0'1$++2"QL]"[ZN"QPTZU[NT[\PQR"XPS]\T["QM"!6%+'1,6*%')F$1"2+"#L" M\TZ" Q" MN[\XK" [ZN" QPTZU[NT[" MNNVM" [S" ZQON" VNP^N]" [ZN" ]NMU^L" XPSTNMM" k" [ZQ["[PQ]U[USLQRRW"[QbNM"XRQTN"Q["[ZN"QPTZU[NT[\PQR"SYYUTN"k"UL[S"[ZN"XPQT[UTN"SY"[ZN"TRUNL[HM+"

!EC""

%ZQ[" U[" STT\PM" UL" [ZN" UL[NPMNT[USL" cN[aNNL" [ZN" [aS" XPQT[UTNM+" %ZN" TRUNL[" QL]" [ZN"QPTZU[NT[" [Z\M" ]PQa" TRSMNP" UL" Q" TSRRQcSPQ[USL" [S"aZUTZ" cS[Z" XQP[UNM" QPN" LNa+"%ZN"N`XNP[DN`XNP[" PNRQ[USLMZUXK" aZNPN" [ZN" TRUNL[" bLSaM" ZNP" SP^QLU_Q[USL" QL]" U[M"YSP[ZTSVUL^"]UPNT[USL"QL]" [ZN"QPTZU[NT["bLSaM"ZNP"VN[ZS]"QM"Q"TPNQ[UON"NL]NQOSP"[ZQ["[QbNM"XRQTN"cQTb"Q["[ZN"QPTZU[NT[\PQR"SYYUTNK"[Z\M"MNNVM"[S"TNQMN+"""

!3"4+#0&!"88%#$4&

#L" [ZN" RQM[" MNT[USL" SY" [ZUM" TZQX[NPK" aN" ZQON" ZNQP]" .PbU[NVQHM" YSPVNP" <("TSVVNL[" SL" MSVN" SY" [ZN" XPSYNMMUSLHM" T\PPNL[" TZQRRNL^NM+"7U[Z" PNYNPNLTN" [S" [ZN"PNMNQPTZ"h\NM[USL"XPSXSMN]"QM"VW"^\U]NRULN"UL"[ZN"M[\]W"QL]"[ZN"^NLNPQR"MNQPTZ"YSP"nTSLLNT[USLMH"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMK"aN"VU^Z["MQW"[ZQ["ZUM"XPSXSMQRM"TSL[PUc\[N"[S"U]NL[UYW"Q"YNa"M\TZ"nTSLLNT[USLMH+"=SP"N`QVXRNK"ZN" Q]]PNMMNM" [ZN" U]NQ" SY" [ZN" TRUNL[" QM" nQ"VSOUL^" [QP^N[H" cW" M\^^NM[UL^" [ZN" TRUNL["cPS\^Z[" VSPN" ]UPNT[RW" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" %ZUM" TRSMNP" RULb"cN[aNNL" [ZN" [aS" XQP[UNM" LS[" SLRW" M\^^NM[M" TSLTPN[N" TZQL^NM" [S" [ZN" QPTZU[NT[\PQR"]NMU^L" XPQT[UTN+" .RMSK" [ZN" TSRRQcSPQ[UON" XPSTNMM" SY" U]NL[UYWUL^" [ZN" TRUNL[HM"PNh\UPNVNL[M" ZQM" QL" UVXQT[" SL" [ZN" TRUNL[" SP^QLU_Q[USL" QM" SL^SUL^" SP^QLU_Q[USLQR"TZQL^N"NONL[M+"%ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"VU^Z[" [Z\M" ULU[UQ[N"]NONRSXVNL[M"aU[ZUL" [ZN"TRUNL["SP^QLU_Q[USLK"aZUTZ"V\[\QRRW" ULYR\NLTNM" [ZN"QPTZU[NT[\PQR"]NMU^L"XPQT[UTN+"""#[" MZS\R]" QRMS" cN" LS[N]" [ZQ[" [ZN" <(HM" PNYRNT[USLM" ]NM[QcURU_N" XQP[M" SY" [ZN"

M[P\T[\PQR" ZUNPQPTZW" [ZQ[" ZQM" [PQ]U[USLQRRW" SP^QLU_N]" [ZN" QPTZU[NT[" XPSYNMMUSLK" QL]"[ZQ[" M[URR" MNNVM" [S" PNXPNMNL[M" [ZN" [PQ]NHM" ^NLNPQR" XSUL[" SY" ]NXQP[\PN+" .R[ZS\^Z"MSTUN[QR"PNh\UPNVNL[M"M\TZ"QM"[ZN"TRUNL["SP^QLU_Q[USLHM"ULTPNQMN]"ULOSRONVNL["UL"[ZN"lQPTZU[NT[\PQRm" ]NMU^L" XPSTNMM" QPN" QTbLSaRN]^N]" cW" VQLW" PNXPNMNL[Q[UONM" UL" [ZN"YUNR]" [S]QWK" LS[" VQLW" XPSdNT[M" QPN" MN[" S\[" [S" [NM[" [ZNMN" QMXUPQ[USLM+" <QLW"TSL[NVXSPQPW" QPTZU[NT[\PN" YUPVM" M[Q[N" [ZQ[" [ZNW" YST\M" SL" QXXPSQTZNM" RUbN" \MNPD]PUONL" ULLSOQ[USLK"c\["LS["VQLW"YUPVM"TSLTPN[NRW"N`XRSPN"aZQ["M\TZ"QL"QXXPSQTZ"VU^Z[" NL[QUR+"7ZNL" %ZN"<(HM" M[Q[NVNL[M" QcSON" QPN" UVXSP[QL[K" U[" UM" cNTQ\MN" ZN"TSLYPSL[M" [ZN" [PQ]N" QL]" U[M" TZQRRNL^NMK" LS[" YPSV" Q" MSTUN[QR" XNPMXNT[UONK" c\[" YPSV"

!E;""

aU[ZUL"[ZN"[PQ]N"U[MNRY+'#L"TZQX[NP"BK"#"aURR"]UMT\MM"ZSa"[ZNMN"U]NQM"aNPN"[NM[N]"QL]"[PUQRN]"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[+""

' '

!EF""

"#$%&'(!I*!&#'!&+_-!#$33!

%(+`'"&!

'

+#$(",-!$+"#&

#L" [ZUM" TZQX[NPK" #" QUV" [S" URR\M[PQ[N" QL]" ]UMT\MM" ZSa" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL"aQM"\MN]"QM"Q"ONZUTRN"UL"[ZN"NM[QcRUMZVNL["SY"Q"LNa"SYYUTN"c\UR]UL^K"Q"V\LUTUXQRU[W"[SaL"ZQRR+"""#L"[ZN"TS\PMN"SY"Q"RQP^N"SP^QLU_Q[USLQR"PNM[P\T[\PUL^"SY"[ZN"(QLUMZ"X\cRUT"MNT[SPK"

V\LUTUXQRU[W" 2URRNPe]K" LSP[Z" SY" *SXNLZQ^NL" aQM" VNP^N]" aU[Z" ^NS^PQXZUTQRRW"Q]dQTNL[" \LU[K" 6biOUL^N+" $S[" SLRW" ]U]" [aS" Q]VULUM[PQ[USLM" [\PL" UL[S" SLN+" .RMSK"V\LUTUXQR" QT[UOU[UNM" XPNOUS\MRW" RSTQ[N]" SL" YUON" ]UYYNPNL[" Q]]PNMMNM" UL" [ZN" PN^USLK"aNPN" LSa" XZWMUTQRRW" dSULN]+".R[ZS\^Z" [ZN" XRQLLUL^" QL]" XPNXQPQ[USL" YSP" [ZN" LNa"[SaL" ZQRR" ZQ]" M[QP[N]" XPUSP" [S" [ZN" X\cRUT" PNTSLM[U[\[USLK" [ZN" c\UR]UL^" XPSdNT["aQM"MNNL"QM"QL"SXXSP[\LU[W"[S"MN["YSP[Z"QL]"NM[QcRUMZ"[ZN"SP^QLU_Q[USLQR"PN]NMU^L"[ZQ["[ZN"VNP^NP"PNXPNMNL[N]+"2NPNK"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"MNPON]"QM"Q"ONZUTRN"[S"UL]\T["]NONRSXVNL[M"aU[ZUL"[ZN"SP^QLU_Q[USLQR"]NMU^LK"aZURN"[ZN"MQVN"XPSTNMMNM"aNPN"QRMS"MNNL"QM"Q"aQW" [S" ULYSPV" [ZN"QPTZU[NT[\PQR"]NMU^L"SY" [ZN"c\UR]UL^+"%ZN" [aS"]NMU^L"ULU[UQ[UONM"aNPN"[Z\M"TSLMU]NPN]"UL[N^PQ[N]g"Q"PNTUXPSTQR"PNMS\PTN"YPSV"aZUTZ"cS[Z"TS\R]"cNLNYU[+"#L"[ZUM"aQWK"[ZN"XPSdNT["VU^Z["cN"MNNL"QM"QL"Q[[NVX["[S"N`XRSPN"QL]"NLZQLTN" Q" RULb" cN[aNNL" QPTZU[NT[\PQR" QL]" SP^QLU_Q[USLQR" ]NMU^L+" #Y" aN" PNTQRR"]UQ^PQV" 9" lTY+" *ZQX[NP" !mK" [ZN" LS[USL" SY" SP^QLU_UL^" [ZN" SP^QLU_Q[USLQR" QL]" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"UL"Q"TSLT\PPNL["M[P\T[\PNK"VU^Z["PNYRNT["MSVN"SY"[ZN"NONL[M"Q[" M[QbN" UL" [ZUM"XPSdNT[+".M" #"aURR" URR\M[PQ[N"QL]"]UMT\MM" UL" [ZN" YSP[ZTSVUL^"MNT[USLM" lF.D*mK"Q"M\cM[QL[UQR"L\VcNP"SY"XQP[UTUXQ[USL"QT[UOU[UNM" [SSb"XRQTN" UL" [ZN"XPSdNT[K"UL"aZUTZ"Q"RQP^N"^PS\X"SY"NL]"\MNP"PNXPNMNL[Q[UONM"aNPN"ULOSRON]+"

!EB""

""%ZN"[N`["UM"M[P\T[\PN]"UL"[ZN"YSRRSaUL^"aQW1"6NT[USL"F."XPNMNL[M"[ZN"TQMN"UL"[aS"

M[Q^NM+"=UPM[K"#"XPSOU]N"Q"MZSP["MNh\NL[UQR"S\[RULN"SY"MSVN"SY"[ZN"VQUL"NONL[M"QM"[ZNW"[SSb"XRQTN"UL"[ZN"XPSdNT[+"6NTSL]K"#"]NMTPUcN"MSVN"SY"[ZN"QMXNT[M"[ZQ["TZQPQT[NPU_N"[ZN"XPSTNMM"]NMU^LNPHM"QXXPSQTZ+"2NPNK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QPN"MTP\[ULU_N]"UL"VSPN" ]N[QURK" UL" SP]NP" [S" URR\M[PQ[N" ZSa" [ZN" SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"VU^Z["cN"MQU]"[S"ZQON"cNNL"TSLLNT[N]"UL"[ZN"XPSdNT[+"""#L"[ZN"M\cMNh\NL["[aS"MNT[USLMK"F-"QL]"F*K"#"]UMT\MM"Q"YNa"MXNTUYUT"QMXNT[M"[ZQ["

MNNVN]"[S"TZQRRNL^N"[ZN"TRSMNP"RULb"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"6NT[USL"F-"YST\MNM"SL"Q"]URNVVQ"[ZQ["UM"PNRQ[N]"[S"SP^QLU_N]"XQP[UTUXQ[USL"QM"Q"VN[ZS]+"#Y"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QPN"\MN]"QM"Q"VNQLM"[S"M\XXSP["SP^QLU_Q[USLQR"]NONRSXVNL["lTY+" *ZQX[NP" !mK" U[" UM" UVXSP[QL[" [S" ]UMT\MM" [ZN" TSPPNRQ[USL" cN[aNNL" [ZN" ]NTUMUSLM"VQ]N"XPUSP"[S"[ZN"XQP[UTUXQ[USL"l[ZQ["VQW"YQOSP"Q"TNP[QUL"]NONRSXVNL[QR"]UPNT[USLmK"QL]" [ZN" U]NQM" QL]" N`XNT[Q[USLM" [ZQ[" [ZN" XQP[UTUXQ[USL" QT[\QRRW" \LYSR]M+" 2NPNK" [ZN"M[QYYHM"QP[UT\RQ[N]"PNMUM[QLTN"SY"[ZN"SXNL"SYYUTN"RQWS\["k"SLN"SY"[ZN"XPSdNT[HM"^NLNPQR"XPNTSL]U[USLM" k" YSPVM" [ZN" TNL[PQR" M[SPW" UL" [ZN" ]UMT\MMUSL+" %ZUM" QXXQPNL[" aSPPW"MNNVN]"[S"NL]\PN"[ZPS\^ZS\["[ZN"XPSdNT[K"c\["[ZN"TSL[UL\S\M"]UMT\MMUSLM"[ZQ["[SSb"XRQTN" UL" [ZN" TS\PMN" SY" [ZN" XQP[UTUXQ[USLK"VU^Z[" QRMS" cN" MQU]" [S" M[QcURU_N" QL]" [Z\M"TQ[QRW_N"Q"TNP[QUL"XNPTNX[USLQR"]UMXRQTNVNL["QVSL^"[ZN"XQP[UTUXQL[M+"""#L"MNT[USL"F*K"#"XPNMNL["Q"XQP[UT\RQP"M[SPW"YPSV"[ZN"TQMNK"[ZPS\^Z"aZUTZ"#"QUV"[S"

URR\M[PQ[N" ZSa" [ZN" RULb" cN[aNNL" [ZN" QPTZU[NT[\PQR" QL]" [ZN" SP^QLU_Q[USLQR" ]NMU^L"XPSTNMMNM"VU^Z[" cN" MQU]" [S" ZQON" ULYR\NLTN]" [ZN" ]NONRSXVNL[" SY" [ZN" QPTZU[NT[\PQR"]NMU^L" MSR\[USL+" 2NPNK" [ZN" TSL[UL\S\M" ]NONRSXVNL[M" SY" Q" XQP[UT\RQP" QPTZU[NT[\PQR"ScdNT["k"[ZN"NL[PQLTN"TS\L[NP"UL"[ZN"[SaL"ZQRRHM"PNTNX[USL"QPNQ"k"VQbNM"\X"[ZN"VQUL"N`QVXRN+"."M[QYY"VNVcNP"aZS"ZQM"cNNL"QaQW"SL"VQ[NPLU[W"RNQON"PN[\PLM"[S"aSPb"QL]" [S" Q" [SaL" ZQRR" c\UR]UL^" [ZQ[" UM" NVNP^UL^" YPSV" [ZN" ^PS\L]+" -QMN]" SL" ZNP"XNPTNX[USL"SY" [ZN"SP^QLU_Q[USLHM"TNL[PQR"QMXUPQ[USL"aU[Z" [ZN" [SaL"2QRR"XPSdNT[K" [ZN"M[QYY"VNVcNP"ScdNT[M"[S"MSVN"SY"[ZN"]NMU^L"MbN[TZNM"XPNMNL[N]"[S"ZNP+"!

#L"SP]NP"[S"M\XXSP["[ZNMN"]UMT\MMUSLMK"#"]PQa"SL"[ZN"MQVN"cQMUT"cS]UNM"SY"RU[NPQ[\PN"QM"aURR"QRMS"cN"QXXRUN]"UL"*ZQX[NP"B"QcS\["[ZN"<UbQ]S"2S\MN"XPSdNT[+"#L"MNT[USL"F-K"#"\MN"MNLMNVQbUL^"UL"SP^QLU_Q[USL"QM"VW"VQUL"MS\PTN"SY"ULMXUPQ[USL"l7NUTb"!A?AK"!AAFK"9EE!K"9EECK"6QRQLTUb"!A??K"6[Qa"!A,9K"0USUQ"QL]"*ZU[[UXN]]U"!AA!mK"aZURN"QT[SPDLN[aSPb"[ZNSPW"MNPONM"QM"[ZNSPN[UTQR"^\U]QLTN"UL"MNT[USL"F*"

!E?""

l*QRRSL"!A,BK"*QRRSL"QL]"5Q[S\P"!A,!K"5Q[S\P"!AA!K"!AAAm+'

!E,""

2'"&.+-!I$*!&#'!%$(&.".%$&.+-!

$"&.X.&.'2!.-!&#'!&+_-!#$33!

%(+`'"&!'

+#$(",-!$+"#&

#L"[ZUM"MNT[USLK"#"YUPM["QUV"[S"XPSOU]N"Q"MNh\NL[UQR"S\[RULN"SY"MSVN"SY"[ZN"TNL[PQR"NONL[M"QM"[ZNW"[SSb"XRQTN"UL"[ZN"%SaL"2QRR"XPSdNT[K"aU[Z"PN^QP]M"[S"[ZN"SP^QLU_N]"NL]" \MNP" XQP[UTUXQ[USLK" QL]" LN`[" [S" RSSb" UL[S" [ZN" XPSTNMM" ]NMU^LNPHM" QXXPSQTZ" UL"VSPN" ]N[QUR+" (UQ^PQV" C" URR\M[PQ[NM" [ZN" XPSdNT[HM" [UVNRULNK" aU[Z" PNYNPNLTN" [S" [ZN"MNh\NL[UQR" SP^QLU_Q[USL" SY" [ZN" XPSdNT[HM" TNL[PQR" NONL[M+" 2NPNK" Q" L\VcNP" SY" [ZN"XQP[UTUXQ[USL" QT[UOU[UNM" QPN" XPNMNL[N]1" OQPUS\M" MNPUNM" SY" aSPbMZSXMK" UL[NPOUNaMK"XRNLQPW"VNN[UL^M"aU[Z"[ZN"\MNPM"QL]"VSPN+"%ZN"QT[UOU[UNM"[SSb"XRQTN"Q["Q"TSL[UL\S\M"XQTN"[ZPS\^ZS\["[ZN"XPSdNT[K"TSLT\PPNL["[S"[ZQ["[ZN"QT[\QR"c\UR]UL^"XPSdNT["NOSRON]+"!

! !!

0;9879P!T!"##$%&'(&)%!&*)!+',-).&/%!0)1)'(#!&"2)3'(2)!(14!+'"2('5!(.&"6"&")%7!8"&*!')3)')1.)!&,!&*)!,'0(1"9)4!)14!

$%)'!+('&"."+(&",1:!;1!&*)!3,##,8"10!&)<&7!%,2)!,3!&*)%)!)6)1&%!(')!='")3#5!+')%)1&)4:!

!

!

!EA""

*&4%7-%#$+*3&"-$3+#%&")&$2%&!%#$(*3&%=%#$4&

)H!#;7;:8!9!?76A5@@!M5@;8:57!

%ZN" %SaL" 2QRR" XPSdNT[" aQM" cQMN]" SL" QL" QPTZU[NT[\PQR" TSVXN[U[USL1" Q" X\cRUT"[NL]NPK" [S" aZUTZ" YUON" TSLMSP[UQ" aNPN" ULOU[N]" [S" XQP[UTUXQ[N+" 3QTZ" TSLMSP[U\V"TSLMUM[N]"SY"Q"TSL[PQT[SPK"QL"NL^ULNNPUL^"YUPV"QL]"QL"QPTZU[NT[\PQR"YUPV+""".RPNQ]W"XPUSP"[S"aPU[UL^"[ZN"cPUNY"SY"PNh\UPNVNL[MK"aZUTZ"MNPON]"Q"XSUL["SY"[ZN"

]NXQP[\PN" UL" [ZN" TSLMSP[UQHM" ]NONRSXVNL[" YSP" Q" ]NMU^L" XPSXSMQRK" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM" aNPN" MN[" YSP[Z+" #L" SP]NP" [S" SP^QLU_N" [ZNMN" NONL[MK" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USL"ZUPN]"TSLM\R[QLTW"6U^LQR".PbU[Nb[NP+"6U^LQR".PbU[Nb[NP"UM"Q"YUPV"[ZQ["ZQ]"!/0'1$++%&$+,-.2"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"QM"SLN"SY"U[M"VQUL"MNPOUTNM+"2NPNK" [ZN"YST\M"SL"XPSTNMM"aQM"TSLM[U[\[N]"cW" [ZN"PNRQ[USLMZUX"cN[aNNL" [ZN"TRUNL["SP^QLU_Q[USL"QM"[ZN"NL]"\MNP"SY"[ZN"YSP[ZTSVUL^"c\UR]UL^K"SL"[ZN"SLN"ZQL]K"QL]"[ZN"]NONRSXVNL["SY"[ZN"c\UR]UL^HM"QPTZU[NT[\PQR"]NMU^LK"SL"[ZN"S[ZNP+""!

OH!&45!G;7@=!@57;5@!6G!D67L@46?@!

%ZN" NONL[M" [ZQ[" [SSb" XRQTN" XPUSP" [S" [ZN" QPTZU[NT[\PQR" TSVXN[U[USL" aNPN" QM"YSRRSaM1" =UPM[K" 6U^LQR" .PbU[Nb[NP" ZQ]" ]NONRSXN]" QL]" QTTSVXRUMZN]" Q" M\PONWK" UL"aZUTZ" [ZN" TRUNL[" SP^QLU_Q[USLHM"\MN"SY" T\PPNL[" MXQ[UQR" YQTURU[UNM"aNPN"S\[RULN]" QL]"TQ[N^SPU_N]+" -QMN]" SL" [ZNMN" ]Q[QK" [aS" UL[NPQT[UON" aSPbMZSXM" aNPN" XRQLLN]" QL]"N`NT\[N]K"[S"aZUTZ"MSVN"FE"S\["SY"F?F"V\LUTUXQRU[W"Q]VULUM[PQ[USL"M[QYY"VNVcNPM"aNPN"ULOU[N]"[S"XQP[UTUXQ[N+"7U[ZUL"[ZN"YPQVNaSPb"SY"[ZNMN"QT[UOU[UNMK" [ZN"M[QYY"^S["[ZN"SXXSP[\LU[W" [S"]UMT\MM" [ZN" MXQ[UQR"SP^QLU_Q[USL"SY" [ZNUP" T\PPNL[K" QL]"QRMS" [ZNUP"YSP[ZTSVUL^"aSPb"XPSTNMMNM+"2NPNK" UMM\NM" RUbN"TSRRQcSPQ[USLK"XPS`UVU[WK"QTS\M[UTM"QL]"TSLTNL[PQ[USL"aNPN"TNL[PQR+"""-N[aNNL"NQTZ"aSPbMZSXK"6U^LQR".PbU[Nb[NP"[PQLMRQ[N]"[ZN"VQ[NPUQR"XPS]\TN]"cW"

[ZN"NL]"\MNPMK"QL]" [ZN" PNM\R[M"SY" [ZNMN" [PQLMRQ[USLM"aNPN"]UMT\MMN]"QL]"LN^S[UQ[N]"aU[Z" [ZN" V\LUTUXQRU[W" VQLQ^NVNL[" [NQV+" .Y[NP" [ZN" YUPM[" [aS" aSPbMZSXMK" 6U^LQR".PbU[Nb[NP" XPS]\TN]" Q"!0$C(,0$7$."%6.6*8+,+2" [ZQ[" YSPVN]"QL" ULX\[" [S" [ZN" QT[\QR"XZPQMUL^"SY"[ZN"cPUNYK"\XSL"aZUTZ"[ZN"QPTZU[NT[\PQR"TSVXN[U[USL"aQM"c\UR[+"%ZN"cPUNY"

!!E""

aQM" M\cMNh\NL[RW" ]NMTPUcN]" QM" !(."06&,",'.6*2" QL]" !&,@@$0$."2" LS[" SLRW" cW" [ZN"XPSTNMM"]NMU^LNPMK"c\["QRMS"cW"MNONPQR"SY" [ZN"QPTZU[NT[M"YPSV"/2&".PbU[Nb[NPg" [ZN"QPTZU[NT[\PN"YUPV"UL"[ZN"aULLUL^"TSLMSP[U\V+""!

TH!%;AL;:8!9!D;::57!9P6:8!=45!A6P?5=;=;6:!?76?6@9>@!

=UON"XPSXSMQRM"aNPN"M\cVU[[N]"UL"[ZN"TSVXN[U[USLK"QL]"Q"aULLNP"aQM"QXXSUL[N]"cW" QL" QMMNMMVNL[" TSVVU[[NN" SY" N`[NPLQR" QM" aNRR" QM" UL[NPLQR" VNVcNPM+" #L" [ZN"M\cMNh\NL[" PNYRNT[USL" aU[Z" PN^QP]M" [S" [ZN" QMMNMMVNL[" TPU[NPUSL" QL]" [ZN" aULLUL^"XPSXSMQRK"[ZN"VQLQ^UL^"]UPNT[SP"lYPSV"ZNPN"SLaQP]M"NL[U[RN]"[ZN"<(m"PNVQPbN]1""""qspt"[ZN"TNL[PQR"PNQMSL"s[ZQ["[ZUM"XPSXSMQR"aSL"[ZN"TSVXN[U[USLt"aQMLH["QM"M\TZ"

[ZQ["[ZNW"ZQ]"S\[RULN]"Q"PNQRRW"M[UV\RQ[UL^"ZS\MN"k"aZUTZ"#"[ZULb"U["UMK"QRMS"cQMN]"SL"MSVN" QNM[ZN[UT" TSLMU]NPQ[USLM" k" c\[" cNTQ\MN" s[ZNWt" ZQ]" cNNL" YQU[ZY\R" [S" [ZN"QMMU^LVNL[+"%ZN"^\W"[ZQ["RNQ]"[ZN"[NQV"spt"PNMXSL]N]"[ZQ["[ZUM"aQM"N`QT[RW"aZQ["[ZNW" ZQ]" VQ]N" [ZNUP" M\TTNMM" TPU[NPUQ1" [S" [PQLMRQ[N" S\P" XPSTNMMK" [ZN" \MNP" SPUNL[N]"XPSTNMMK"UL"Q"aQW"[ZQ["VQ]N"U["OUMUcRN"UL"[ZN"ZS\MN+r""""%ZN" h\S[Q[USL" PNONQRM" [ZN" NMMNL[UQR" YQT[SP" [ZQ[" ]UM[UL^\UMZN]" [ZUM" XQP[UT\RQP"

XPSXSMQR"YPSV"[ZN"S[ZNP"TSVXN[U[SPM"QL]"VQ]N"[ZN"MNRNT[USL"XPSTNMM"QXXPSQTZQcRN+"%ZN" [NQV" ZQ]K" QM" [ZN"<(" X\[" U[" RQ[NP" UL" [ZN" MQVN" UL[NPOUNa1" X+(11$$&$&% ,.% =>?%"06.+*6",.-% '(0% :0,""$.% /0'/'+,",'.+% 6.&% "06.+@'07$&% "#$7% ,."'% 6.% 601#,"$1"(0$%"#6"%6++,-.$&%'0-6.,B6",'.6*%(.&$0+"6.&,.-4+"%ZN"h\S[Q[USLM"MZSa"[ZQ["[ZN"aULLUL^"XPSXSMQR"QUVN]"Q["PNYRNT[UL^"[ZN"ULX\["YPSV"[ZN"NL]"\MNPM"UL"QL"QPTZU[NT[\PQR"YSPVQ["QL]"[ZQ["U["M\TTNN]"[S"VNN["[ZUM"QMXUPQ[USL+"#L"[ZUM"aQWK"aN"VU^Z["MQW"[ZQ["[ZN"QcURU[W"[S"PNMXSL]"[S"[ZN"ULX\["YPSV"[ZN"NL]"\MNP"MNNVN]"[S"MNPON"QM"QL"QT[\QR"QMMNMMVNL["TPU[NPUSL"UL"[ZN"TSVXN[U[USL+""!

]H!&45!@5A6:M!@57;5@!6G!D67L@46?@!

.Y[NP"[ZN"TSVXN[U[USLK"[ZN"aULLUL^"TSLMSP[U\V"M[QP[N]"[ZN"RSL^"QL]"TSVXRUTQ[N]"dS\PLNW"[ZQ["VSM["QPTZU[NT[\PQR"XPSdNT[M"^S"[ZPS\^Z1"YPSV"]NMU^L"PNXPNMNL[Q[USL"UL"Q"XPSXSMQR"[S"QL"QT[\QR"c\UR]UL^+"4QPQRRNR"[S"QL]"QM"QL"UL[N^PQ[N]"XQP["SY"[ZUM"TSVXRN`"]NONRSXVNL[" XPSTNMMK" QLS[ZNP" MNPUNM" SY" UL[NPQT[UON" aSPbMZSXM" aU[Z" NL]" \MNP"PNXPNMNL[Q[UONM"aNPN"TQPPUN]"S\[+"%ZUM"ULTR\]N]"[ZPNN"aSPbMZSXM"[ZQ["YST\MN]"SL"[ZN"]NXQP[VNL[QR"RSTQ[USL"QL]"[ZN"MXQ[UQR"RQWS\["SY"[ZN"ZS\MN"Q["RQP^N+"-QMN]"SL"[ZNMN"

!!!""

aSPbMZSXMK" QL" S\[RULN" SY" [ZN" c\UR]UL^HM" UL[NPUSP" RQWS\[" cN^QL" [S" NVNP^N+" .^QULK"6U^LQR".PbU[Nb[NP"aQM"PNMXSLMUcRN"YSP"[ZN"XRQLLUL^"QL]"YQTURU[Q[UL^"[ZN"aSPbMZSXMK"QL]" QRMS" YSP" [ZN" [PQLMRQ[USLM" SY" [ZN" VQ[NPUQR" XPS]\TN]" cW" [ZN" NL]" \MNPM+" %ZNMN"[PQLMRQ[N]" ONPMUSLM" SY" [ZN" ULX\[" aNPN" ]UMT\MMN]" aU[Z" [ZN" [SX" VQLQ^NVNL[K" QL]"M\cMNh\NL[RW" cPS\^Z[" [S" [ZN" QPTZU[NT[MK" Q[" [ZUM" XSUL[" aSPbUL^" aU[Z" [ZN" Y\P[ZNP"]NONRSXVNL["SY"[ZN"]NMU^L"MSR\[USL"YSP"[ZN"c\UR]UL^"TSLM[P\T[USL+"".M" 6U^LQR" .PbU[Nb[NPHM" [PQLMRQ[USLM" QL]" TSL[U^\S\M" PNTSVVNL]Q[USLM" SY[NL"

VQ]N" U[" [ZPS\^Z" [ZN"VQLQ^NPUQR" ]NTUMUSL"VQbUL^" XPSTNMMK"aN"VU^Z[" MQW" [ZQ[" [ZN"ULX\[" YPSV" [ZN" NL]" \MNPM" MSVNZSa" ULYR\NLTN]" [ZN" NVNP^UL^" ]NMU^L" MSR\[USLM+" #L"SLN"SY"[ZN"aSPbMZSX"N`NPTUMNMK"[ZN"XQP[UTUXQL[M"aNPN"QMbN]"[S"XPSOU]N"M\^^NM[USLM"YSP" [ZN"]NXQP[VNL[MH" XRQTNVNL[K"aU[Z" PN^QP]M" [S" [ZN" MXQ[UQR" PNRQ[USLM"cN[aNNL" [ZN"]NXQP[VNL[M+"-QMN]"SL"[ZUM"ULX\[K"6U^LQR".PbU[Nb[NP"XPS]\TN]"Q"XPSXSMU[USL"[S"[ZN"[SX" VQLQ^NVNL[K" UL" aZUTZ" ;" MTNLQPUSM" SY" [ZN" ]NXQP[VNL[MH" MXQ[UQR" RQWS\[" aNPN"XPNMNL[N]+" 'LN" SY" [ZNMN" aQM" XQP[UT\RQPRW" PNTSVVNL]N]" k" Q" XPSXSMQR" [ZQ[" [ZN"VQLQ^NVNL["[NQV"M\cMNh\NL[RW"QTTNX[N]+""

IH!&45!=4;7M!@57;5@!6G!D67L@46?@!

%ZN"RQM["MNPUNM"SY"aSPbMZSXM"ULOSRON]"[ZN"M[QYY"Q["RQP^N+".["[ZUM"XSUL[K"[ZN"]NMU^L"SY" [ZN" c\UR]UL^" QM" Q" TSLM[P\T[USL"aQM" MN[[RN]K" QM"aQM" [ZN" UL[NPUSP" RQWS\[" QL]" [ZN"MXQ[UQR" QYYURUQ[USL"cN[aNNL" [ZN" ]NXQP[VNL[" \LU[M+" #["aQM" [Z\M" [UVN" [S" YST\M"SL" [ZN"UL[NPUSP"RQWS\["SY"NQTZ"SY"[ZNMN"\LU[MK"QTTSP]UL^"[S"[ZN"QT[\QR"[QMbM"QL]"ScRU^Q[USLM"[ZQ[" PNXPNMNL[N]" [ZN" ]NXQP[VNL[MH" XPSYNMMUSLQR" PNMXSLMUcURU[UNM+" %ZN" aSPbMZSXM"aNPN"SP^QLU_N]"QM"!"$+"+2K"UL"aZUTZ"Y\[\PN"MXQ[UQR"TSL]U[USLM"aNPN"N`XRSPN]"UL"[ZN"YSPVQ["[ZQ["QPTZU[NT[M"TZQPQT[NPU_N"QM"!1!1"UL"[ZN"QT[\QR"MU_N"SY"[ZN"MXQTN"UL"h\NM[USL+"2NPNK" [ZN"V\LUTUXQRU[W"Q]VULUM[PQ[USL"XPSOU]N]"Q" RQP^N"NVX[W" RSTQ[USL+"%ZN"N`QT["MU_N" SY" [ZN" OQPUS\M" ]NXQP[VNL[QR" QPNQM" aQM" [ZNL" VQPbN]" aU[Z" [QXN" SL" [ZN" YRSSPK"aZURN" MNONPQR" XRQLN" YSQV" cPUTbMK" NQTZ" aU[Z" Q" TSRSP" TS]NK"VQ]N" \X" Q" L\VcNP" SY"Y\PLU[\PN"M\cM[U[\[NM"l]NMbMK"QPTZUONK"MSY["Y\PLU[\PNK"RQVXMK"N[T+m+"#L"[ZUM"aSPbMZSXK"[ZN" XQP[UTUXQL[M" aNPN" QMbN]" [S" YUPM[" ]UMT\MMK" RQ[NP" TSLTPN[NRW" N`XNPUVNL[" aU[ZK"]UYYNPNL["MXQ[UQR"MN[\XMK"UL"SP]NP"[S"^N["Q"VSPN"PNQRUM[UT"UVQ^N"SY"MU_NK"]UM[QLTN"QL]"XPS`UVU[W" UL" [ZNUP" YSP[ZTSVUL^" SYYUTN" QPNQ+" 2NPNK" [ZN" M[QYY" ]UMT\MMN]" ZSa" [ZN"]UYYNPNL[" RQWS\[M" aS\R]" M\XXSP[" [ZN" XPSYNMMUSLQR" ScRU^Q[USLM" [ZQ[" [ZN" \LU[" aQM"N`XNT[N]"[S"Y\RYURR"UL"[ZN"Y\[\PN+""

!!9""

%ZN"]NMU^L"XPSTNMM"SY" [ZN"%SaL"2QRR"XPSdNT["aQM" [Z\M"SP^QLU_N]" UL"Q"XQPQRRNR"M[P\T[\PNK"aZNPN"[aS"]UM[ULT["RULNM"SY"]NONRSXVNL["VU^Z["cN"MQU]"[S"ZQON"ULYR\NLTN]"NQTZ" S[ZNP+" .M" PNM\R[M" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" aNPN" [PQLMRQ[N]" QL]"LN^S[UQ[N]K"[ZNW"aNPN"MNL["[S"[ZN"QPTZU[NT[M"QM"ULX\["[S"ULYSPV"XQP[UT\RQP"QPNQM"SY"[ZN"ZS\MN+"2NPNK" [ZN"XPSTNMM"]NMU^LNPM" QXXNQPN]" [S" PNXPNMNL[" Q"VN]UQ[SP"cN[aNNL" [ZN"TRUNL["SP^QLU_Q[USLK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"QPTZU[NT[MK"SL"[ZN"S[ZNP+".R[ZS\^Z"LS["Q"XQP["SY" [ZN"aULLUL^"TSLMSP[U\VK"[ZN"XPSTNMM"]NMU^LNPM"aNPN"^NLNPQRRW"XPNMNL["Q["[ZN"VNN[UL^M" cN[aNNL" [ZN" TSLMSP[U\V" QL]" [ZN" TRUNL[+" #L" Q" [PQ]U[USLQR" MN[\X" YSP" Q"TSVXRN`"c\UR]UL^"XPSdNT["SY"[ZUM"VQ^LU[\]NK"Q"MSDTQRRN]"c\UR]UL^"TSLM\R[QL["aS\R]"cN"PNXPNMNL[UL^"[ZN"TRUNL[HM" UL[NPNM[M" UL"[ZNMN"VNN[UL^MK"QM"aQM"QRMS"[ZN"TQMN"ZNPN+"-\[" Q]]N]" [S" [ZUMK" [ZN" MN[\X" ULOSRON]" [ZN"XPSTNMM"]NMU^LNPMK"aZS" PNXPNMNL[N]"LS["SLRW" [ZN" TRUNL[" c\[" QRMS" [ZN" NL]" \MNPMK" UL" [ZNMN" ]NONRSXVNL[" MNMMUSLM+" 2NPNK" [ZN"XPSTNMM"]NMU^LNP"PNMXSL]N]"[S"[ZN"]PQY[M"QL]"MbN[TZNM"XPNMNL[N]"cW"[ZN"QPTZU[NT[MK"aU[Z"PNYNPNLTN"[S"XPNOUS\M"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"""

NH!&45!?>5:97Q!P55=;:8@!

(\PUL^"[ZN"RQM["XNPUS]"SY"[ZN"c\UR]UL^"XPSdNT[K"[aS"RQP^N"XRNLQPW"VNN[UL^M"aNPN"ZNR]K" [S" aZUTZ" [ZN" Q]VULUM[PQ[USL" M[QYY" Q[" RQP^N" aNPN" ULOU[N]K" QL]" Q" M\cM[QL[UQR"^PS\X"[\PLN]"\X+"2NPNK"TNL[PQR"XRQWNPM"UL"[ZN"XPSdNT["XPNMNL[N]"Q"^NLNPQR"M[Q[\M"SY"[ZNUP" aSPbK" QL]" [ZN" M[QYY" ^S[" Q" TZQLTN" [S" ULh\UPN" UL[S" [ZN" XPSdNT[+" %ZN"<(K" [ZN"XPSdNT["VQLQ^NPK"[ZN"ZNQ]"QPTZU[NT["QL]"[ZN"ZNQ]"XPSTNMM"]NMU^LNP"aNPN"QRR"SL"M[Q^N"XPNMNL[UL^"[ZNUP"ONPMUSLM"SY"[ZN"TNL[PQR"QMXNT[M"SY"[ZN"XPSdNT[K"YSP"aZUTZ"[ZNW"aNPN"PNMXSLMUcRN+" .]]N]" [S" [ZNMN" XRNLQPW" MNMMUSLM" aQM" !"#$% +"6@@% /60"82K" Q" MSTUQR"^Q[ZNPUL^K"[S"aZUTZ"[ZN"M[QYY"aQM"ULOU[N]"UL[S"[ZN"NVNP^UL^"c\UR]UL^+"%ZN"NVXUPUTQR"VQ[NPUQR" XPS]\TN]" UL" [ZN" XPSdNT[" MZSaM" [ZQ[" [ZUM" XQP[UT\RQP" NONL[" MNNVN]" [S" ZQON"ZQ]"Q"M\cM[QL[UQR"UVXQT["SL"[ZN"M[QYYHM"MNLMN"SY"ZSa"[ZN"LNa"ZS\MN"aS\R]"Y\LT[USL"UL"PN^QP]M"[S"[ZN"]QURW"XPQT[UTN1"%ZN"MU_N"QL]"YSPVQ["SY"[ZN"QT[\QR"aSPbMXQTN"QPNQMg"[ZN"M[P\T[\PN"SY"[ZN"YPSL["SYYUTNg"[ZN"QTS\M[UTM"[ZQ["aQM"M\XXSP[N]"cW"Q"TNP[QUL"[WXN"SY" VQ[NPUQR" UL" [ZN" TNURUL^K" QL]" VSPN+" 'L" JQL\QPW" !M[+" 9EE,K" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USL"VSON]"UL[S"[ZN"LNa"XPNVUMNM"SY"[ZN"[SaL"ZQRR+"""

!!C""

$2%&'("!%44&,%4+0#%(>4&*''("*!2&

#L" SP]NP" [S" \L]NPM[QL]" VSPN" QcS\[" ZSa" [ZN" RULb" cN[aNNL" [ZN" [aS" ]NMU^L"XPSTNMMNM" VU^Z[" cN" TSLM[P\T[N]K" U[" MNNVM" LNTNMMQPW" [S" ]NMTPUcN" [ZN" XPSTNMM"]NMU^LNPHM"VN[ZS]"UL"VSPN"]N[QUR+" #"aS\R]"[Z\M" RUbN" [S"PNXNQ[" [ZN"SONPOUNa"SY" [ZN"NONL[M" QL]" XPSTNMMNM" Q[" M[QbN" UL" [ZN" XPSdNT[K" aU[Z" Q" XQP[UT\RQP" YST\M" SL" [ZN"PNMXSLMUcURU[UNM"SY" [ZN"XPSTNMM"]NMU^LNPM" YPSV"6U^LQR".PbU[Nb[NP+"%ZNMN"NONL[M"QPN"ZU^ZRU^Z[N]" UL" ]UQ^PQV" ;+" 2NPNK" U[" TSVNM" YSP[Z" [ZQ[" [ZN" XPSTNMM" ]NMU^LNPM" aNPN"ULOSRON]" "#0'(-#'("" [ZN" XPSdNT[1" YPSV" cNYSPN" [ZN" QPTZU[NT[\PQR" TSVXN[U[USL" \L[UR"MZSP[RW" cNYSPN" STT\XQ[USL+" -NRSaK" #" aURR" ^S" [ZPS\^Z" MSVN" SY" [ZN" QT[UOU[UNM" [ZQ["PNXPNMNL["[ZN"XPSTNMM"]NMU^LNPM"UL"VSPN"]N[QUR+"

"'3GHIJHK'9"URR\M[PQ[NM"[ZN"XPSTNMM"]NMU^LNPMH"PNMXSLMUcURU[UNM"UL"[ZN"%SaL"2QRR"XPSdNT[+"

""#L"[ZN"YSRRSaUL^K"#"QUV"[S"]NMTPUcN"ZSa"QPTZU[NT[\PQR"QL]"SP^QLU_Q[USLQR"]NMU^L"

QMXNT[M"MNNVN]"[S"UL[NPMNT["UL"[ZN"%SaL"2QRR"XPSdNT[+"#L"SP]NP"[S"]S"[ZUMK"#"M[QP["cW"XPSOU]UL^" Q"VSPN" [ZSPS\^Z" S\[RULN" SY" Q" YNa" SY" [ZN" NRNVNL[M" [ZQ[" TSLM[U[\[N]" [ZN"UL[NPQT[UON"aSPbMZSXM"UL"[ZN"XPSdNT[+".M"[ZN"NVXUPUTQR"VQ[NPUQR"[ZQ["]NMTPUcNM"[ZNMN"NONL[M" UM" M\cM[QL[UQRK" #" SLRW" YST\M"SL" [ZN" YUPM[" MNPUNM"SY"aSPbMZSXM" lUL"]UQ^PQV";"QcSON" NL[U[RN]" aSPbMZSX" MNPUNM" !" QL]" UL" [ZN" YSRRSaUL^" [N`[" TZQPQT[NPU_N]" QM"aSPbMZSX" !" QL]" aSPbMZSX" 9m+" %ZNMN" aNPN" [ZN" aSPbMZSXMK" \XSL" aZUTZ" [ZN"PNh\UPNVNL[" QLQRWMUM" aQM" cQMN]K" QL]" [ZQ[" [SSb" XRQTN" XPUSP" [S" [ZN" QPTZU[NT[\PQR"TSVXN[U[USL+""

!!;""

)H!_67L@46?!)*!P9??;:8!6C=!A6:A57:@!

%ZN" X\PXSMN" SY" [ZN" YUPM[" aSPbMZSX" aQM" [S" VQX" S\[" [ZN" M[QYYHM" ^NLNPQR"PNMNPOQ[USLM" QL]"TSLTNPLM"aU[Z" PN^QP]M" [S" [ZN" NM[QcRUMZVNL["SY" [ZN"LNa"c\UR]UL^K"QL]" QRMS" [S" ]UMT\MM" [ZN" SXXSP[\LU[UNM" [ZQ[" M\TZ" Q" ONL\N" TS\R]" ^NLNPQ[N+" %ZN"<("UL[PS]\TN]"[ZN"MNMMUSL"cW"XSUL[UL^"S\[" [ZN" UVXSP[QLTN"SY"MNT\PUL^"Q" RULb"cN[aNNL"[ZN" ]NMU^L" SY" [ZN" c\UR]UL^" QL]" [ZN" YSP[ZTSVUL^" SP^QLU_Q[USLQR" XPQT[UTN" U[" aQM"N`XNT[N]"[S"QTTSVVS]Q[N1"""!P"%"#,+%/',."%,"%,+%,7/'0"6."%"#6"%:$%,&$.",@8%:#6"%5,.&%'@%)(,*&,.-%:$%6,7%@'09%

:#6"%:$%.$$&%,.%'(0%)(,*&,.-A%=>?%3.%"#,+%:'05+#'/%6.&%"#$%.$<"9%,"%,+%,7/'0"6."%"'%)0,.-%6**%'/,.,'.+% @'0"#A%G#$% 0$6+'.%:#8%:$%#6;$%#,0$&%6%/0'1$++%&$+,-.$0% ,+% "'%+$1(0$% "#$%1'..$1",'.%)$":$$.% "#$%/#8+,16*% @067$:'05%6.&%"#$%61",;,",$+% "#6"%60$%+(//'+$&%"'%"65$%/*61$%,.+,&$%"#$%)(,*&,.-A%G#,+%,+%6%760;$*'(+%'//'0"(.,"8%@'0%(+A%R'+"%'@%(+%#6;$%.$;$0%"0,$&%"'%,.@*($.1$%'(0%:'05+/61$%"'%+(1#%6.%$<"$."A2%""#L" [ZUM" h\S[Q[USLK" [ZN" <(" XSUL[M" S\[" [ZQ[" [ZN" XQP[UTUXQ[USL" PNXPNMNL[N]" QL"

SXXSP[\LU[W" YSP" [ZN" M[QYY" [S" ULYR\NLTN" [ZN" ]NMU^L" SY" [ZN" YSP[ZTSVUL^" aSPb"NLOUPSLVNL[+"2N"UL[PS]\TNM"[ZN"XPSTNMM"]NMU^LNP"QM"[ZN"aQPPQL[SP"YSP"[ZN"TPNQ[USL"SY" TSZNPNLTN"cN[aNNL" [ZN"c\UR]UL^"QL]" [ZN"SP^QLU_Q[USLQR"XPQT[UTNK" QL]" [Z\M" QM" Q"TRUNL["PNXPNMNL[Q[UON"UL"[ZN"YSP[ZTSVUL^"]NMU^L"XPSTNMM+"-\["aZS"QPN"[ZNMN"XPSTNMM"]NMU^LNPMo" 'L" [ZNUP" aNcMU[NK" 6U^LQR" .PbU[Nb[NP" S\[RULNM" [ZN" YUPVHM" OUMUSL" UL" [ZN"YSRRSaUL^"aQW1"""!E,-.6*%6&;,+$+%:,"#,.%/0'1$++N%6.&%+/6",6*%&$+,-.A%M$%60$%'.% "#$%7605$"% @'0%

&0$67+% 6.&% ;,+,'.+% 6)'("% :'05,.-% 6.&% *$60.,.-% $.;,0'.7$."+% '@% "#$% @("(0$A%M$%1'..$1"%/$'/*$%6.&%:'05,.-%1(*"(0$+%"'%6.%'0-6.,B6",'.4+%;,+,'.%@'0%"#$%@("(0$9%6.&%@'07%+/61$+%"#6"%/0'7'"$%:$**N)$,.-%6.&%7("(6*%+87/6"#8%)$":$$.%/$'/*$A2"""-\["aZQ[" ]SNM" [ZUM"VNQL" UL"XPQT[UTNo"%ZN" TSVXRN`" MNNVM" [S"cN"cQMN]"SL" [ZN"

TSVcULQ[USL" cN[aNNL" Q" TRUNL[HM" !&0$67+% 6.&% ;,+,'.+2K" !:'05,.-% 6.&% *$60.,.-%$.;,0'.7$."+2" QL]" !+/6",6*% &$+,-.2K" QL]" [ZN" X\PXSMN" MNNVM" [S" cN" [S" YSPV"TSZNPNLTN"cN[aNNL"[ZNMN+"""%ZPS\^Z"VW"NVXUPUTQR" M[\]W"SY"6U^LQR".PbU[Nb[NPHM"XPQT[UTN" UL" [ZN"%SaL"2QRR"

XPSdNT["QL]"NRMNaZNPNK"#"bLSa"[ZQ["Q"MNPUNM"SY"!"''*+2"YSPV"[ZN"XSUL["SY"]NXQP[\PN"

!!F""

UL"[ZNUP"TRUNL["QMMU^LVNL[M+"6SVN"SY"[ZNMN"QPN"QRPNQ]W"Q"XQP["SY"[ZN"YUPVHM"^NLNPQR"XPS]\T["XSP[YSRUSK"aZURN"S[ZNPM"SY[NL"NVNP^N"UL"TSRRQcSPQ[USL"aU[Z"[ZN"TRUNL[K"UL"[ZN"TS\PMN"SY"[ZN"XQP[UT\RQP"XPSdNT["UL"h\NM[USL+"%ZN"!"''*+2"[Z\M"PNXPNMNL["Q"L\VcNP"SY"YQTURU[Q[UON" TSLTNX[MK" aZUTZ" ULOSRON" ]UYYNPNL[" N`NPTUMNM" [ZQ[" QPN" QXXRUN]" UL" [ZN"]UYYNPNL[" XZQMNM" SY" [ZN" XPSdNT[+"-QMN]" SL" [ZN" QMXUPQ[USL" S\[RULN]" UL" [ZN" h\S[Q[USL"QcSONK" [ZNMN" N`NPTUMNM" MNNV" [S" PNYRNT[" [ZN" LS[USL" SY" Q" XS[NL[UQR" RULb" cN[aNNL" [ZN"SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM+" #L" [ZUM" aQWK" [ZN" XPSTNMM"]NMU^LNPM"VU^Z["cN"MQU]"[S"YQTURU[Q[N"XPSTNMMNMK"UL"aZUTZ"[ZN"MXQ[UQR"M[P\T[\PN"SY"[ZN"TRUNL[" SP^QLU_Q[USLHM" XPQT[UTN" NVNP^NM" [ZPS\^Z" [ZN" M[QYYHM" ]UMT\MMUSLM+" %ZN" TRUNL["SP^QLU_Q[USL"UM"[Z\M"cPS\^Z["UL[S"PNYRNT[USLK"UL"[ZN"TS\PMN"SY"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"""7SPbMZSX"!"TSLMUM[N]"SY"[aS"MNT[USLM+"%ZN"YUPM["MNT[USL"TSL[QULN]"[aS"XRNLQPW"

N`NPTUMNMK" UL"aZUTZ" [ZN" XQP[UTUXQL[M"aNPN" QMbN]" [S" N`XPNMM" [ZNUP" ^NLNPQR" RNONR" SY"N`XNT[Q[USLM"aU[Z"PN^QP]M"[S"[ZN"NM[QcRUMZVNL["SY"[ZN"LNa"[SaL"ZQRR+"#L"[ZN"qGUMUSL"N`NPTUMNr"[ZN"XQP[UTUXQL[M"aNPN"QMbN]"[S"[QbN"XSMU[USL"QRSL^"Q"RQP^N"PSXN"cQMN]"SL"[ZNUP"UVVN]UQ[N"QLMaNP"[S"[ZN"h\NM[USL"!S'%8'(%)$*,$;$%,.%"#$%;,+,'.J2""2NPNK"SLN"N`[PNVU[W" PNXPNMNL[N]" [ZN" ZU^ZRW" NLTS\PQ^N]" OUNaXSUL[K" aZURN" [ZN" SXXSMU[N"PNXPNMNL[N]"[ZN"ZU^ZRW"MbNX[UTQR+"#L"VW"YUNR]"LS[NM"YPSV"[ZUM"N`NPTUMNK"#"PNXSP["[ZQ[1"""!G#$0$%60$% ":'% "'"6*% +5$/",1+A%G#$8% $</0$++% 1'.1$0.+%6)'("%'@@,1$% 1'.&,",'.+9%

"#$%*615%'@%/0,;618%,.%"#$%1'.;$0+6",'.+%:,"#%"#$%1*,$."+%=6.&%"#6"?%6.%'/$.%'@@,1$%*68'("%16.%'.*8%:'05%,.%6.%$.",0$*8%/*6.$%'0-6.,B6",'.A2""".M"aURR" cN" URR\M[PQ[N]" QL]" ]UMT\MMN]" UL" [ZN" QLQRWMUM" UL" MNT[USL" F-" cNRSaK" [ZN"

TSLTNPL"QcS\[" [ZUM" M[P\T[\PQR"XPULTUXRN"SY" [ZN"SXNL"SYYUTN" RQWS\[K"XRQWN]"Q"TNL[PQR"PSRN"YPSV"[ZUM"NQPRW"M[Q^N"SY"[ZN"XPSdNT[K"SLaQP]M+""""%ZN" MNTSL]" MNT[USL" aQM" SP^QLU_N]" QM" Q" !16@_% +$7,.602" l-PSaLK" #MQQTMK"

7ZNQ[RNW"9EEFm+"2NPNK"]UQRS^\N"MNMMUSLM"[SSb"XRQTN"UL"^PS\XM"SY"QXXPS`UVQ[NRW"FD," XNSXRNK" aZS" TSLONPMN]" QPS\L]" [QcRNM" k" RUbN" UL" Q" TQYw+" %ZN" ^PS\XMI[QcRNM" ZQ]"]UYYNPNL[" [ZNVNMIh\NM[USLM" QM" [ZN" TSLONPMQ[USLQR" XSUL[" SY" ]NXQP[\PNK" QL]" [ZN"XQP[UTUXQL[M" aNPN" VU`N]" QTPSMM" ]NXQP[VNL[QR" QYYURUQ[USL" QL]" XPSYNMMUSLQR" M[Q[\M+"%ZN" h\NM[USLM" XPUVQPURW" Q]]PNMMN]" [ZN" XQP[UTUXQL[HM" ^NLNPQR" XNPTNX[USL" SY" [ZNUP"XPNMNL[" QL]" Y\[\PN"aSPb" XPSTNMMNM" QL]" PS\[ULNMK" QM"aNRR" QM" SY" [ZNUP" N`XNT[Q[USLMK"

!!B""

TSLTNPLM" QL]" ZSXNM" UL" [NPVM" SY" [ZN" XZWMUTQR" M[P\T[\PN" [ZQ[" aS\R]" QTTSVVS]Q[N"[ZNMN"QT[UOU[UNM"UL"[ZN"Y\[\PN1"""!\':%&'%8'(%$.;,+,'.%"#$%'/",76*%@("(0$%:'05%/0'1$++$+%,.%"#$%.$:%"':.%#6**9%

:,"#%0$-60&+% "'%6+/$1"+% *,5$%1'7/$"$.1$N1*(+"$0+9%&$/60"7$."6*%60$6+%6.&%/0'F$1"%60$6+J29% !M#6"% '//'0"(.,",$+% 6.&% "#0$6"+% &'% 8'(% +$$% ,.% 6.% 61",;,"8% )6+$&%:'05%$.;,0'.7$."J2`K"QL]"MS"YSP[Z+"""

OH!_67L@46?!O*!P9??;:8!6C=!=45!D67L!

7N"VU^Z[" MQW" [ZQ["aSPbMZSX" !" MNPON]" QM" QL" UL[PS]\T[USL" [S" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM1"QM"Q"ONZUTRN"[S"M\XXSP[K"LS["SLRW"[ZN"]NMU^L"SY"Q"LNa"[SaL"ZQRRK"c\["QRMS"[ZN"]NMU^L"SY"[ZN"LNa"SP^QLU_Q[USL"[ZQ["aQM"[S"ULZQcU[" [ZN"c\UR]UL^"lQM"Q"PNM\R["SY"[ZN" VNP^NPm+" %ZN" X\PXSMN" SY" aSPbMZSX" 9K" ZSaNONPK" aQM" [S" VQX" S\[" ZSa" aSPb"QT[\QRRW" [SSb" XRQTN" aU[ZUL" [ZN" V\LUTUXQRU[W" ]NXQP[VNL[M+" 2NPNK" U[" aQM" [ZN"PNRQ[USLMZUX"cN[aNNL"aSPb"XPSTNMMNMK"PNMXSLMUcURU[UNM"QL]"TSVXN[NLTUNMK"SL"[ZN"SLN"ZQL]K"QL]" [ZN"MXQ[UQR" YPQVNaSPb" [S"QTTSVVS]Q[N" [ZNMNK"SL" [ZN"S[ZNPK" [ZQ["aQM" UL"YST\M+" .^QUL" [ZN" NONL[" aQM" M[P\T[\PN]" QM" Q" TQYw" MNVULQPK" c\[" [ZUM" [UVN" [ZN"^PS\XMI[QcRNM"aNPN"SP^QLU_N]"]NXQP[VNL[QRRW+"%ZN"XQP[UTUXQL[M"aNPN"XPSOU]N]"aU[Z"h\NM[USLM"M\TZ"QM1"""!M#6"%60$%8'(0%76,.%"6+5+J29%!E$*$1"%1'7/$"$.1,$+%6.&%1'**6)'06",'.%/60".$0+%

"#6"%60$%.$1$++608%,.+,&$%'@%8'(0%':.%&$/60"7$."9%'("+,&$%'@%8'(0%&$/60"7$."%6.&%'("+,&$%'@%"#$%'0-6.,B6",'.%6+%+(1#",.%'0&$0%@'0%8'(%"'%+'*;$%8'(0%"6+5+A2"""%ZN" aSPbMZSX" QRMS" Q[[NL]N]" [S" VSPN" QcM[PQT[" UMM\NM" M\TZ" QM" [ZN" LS[USL" SY"

!6"7'+/#$0$2+"2NPNK"[ZN"XQP[UTUXQL[M"aNPN"QMbN]"QcS\["[ZN"bUL]"SY"QVcUQLTN"[ZNW"[ZS\^Z["[ZNUP"T\PPNL["QL]"Y\[\PN"aSPb"XPSTNMMNM"aS\R]"cNLNYU["YPSV+"%ZN"h\NM[USLM"aNPN" M\XXSP[N]" cW" Nh\UXVNL[" M\TZ" QM" XSM[NPMK" QL]" XUT[S^PQVM" [S" ^S" aU[Z" [ZN"XSM[NPMK"\XSL"aZUTZ"]UYYNPNL["MXQ[UQR"YQTURU[UNM"QL]"Q[VSMXZNPN"TZQPQT[NPUM[UTM"aNPN"XPUL[N]+""%ZN"n^QVNH"aQM"YSRRSaN]"cW"aPU[[NL"ULM[P\T[USLM1"""""""""""""""""""""""""""""""""""""""""""""

," %ZN" [NPV" qQT[UOU[W" cQMN]" aSPb" NLOUPSLVNL[r" PNXPNMNL[M" Q" bUL]" SY" TSLTNX[\QR" YPQVNaSPb" YSP" 6U^LQR".PbU[Nb[NPHM"XPS]\T["XSP[YSRUS+"%ZN"TSLTNX["TSL[QULM"Q"TNP[QUL"LS[USL"SY"YRN`UcURU[W"UL"[ZN"XZWMUTQR"M[P\T[\PN"SY"Q"aSPb"NLOUPSLVNL[K"UL"aZUTZ"[ZN"aQW"[ZQ["MXQ[UQR"YQTURU[UNM"QPN"cNUL^"\MN]"TZQL^N"QTTSP]UL^RWK"UL"SP]NP"[S"QTTSVVS]Q[N"[ZN"QT[UOU[UNMH"QR[NPUL^"LNN]M"QL]"PNh\UPNVNL[M+"'LN"TSLMNh\NLTN"SY"Q"VSPN"YRN`UcRN"MN[\X"UM"[ZQ["TNP[QUL"[PQ]U[USLQR"RQWS\["M[P\T[\PNM"lN+^+"SLN"aSPbM[Q[USL"XNP"M[QYYm"]UMRSTQ[N"QL]"[QbN"SL"]UYYNPNL["MZQXNM+"

!!?""

!E$*$1"%6% +/61$Q%:#,1#% "8/$%'@% +$"(/%:'(*&%8'(%/0$@$0% ,.%'0&$0% "'% +'*;$%$61#%"6+5J%a+$%"#$%/,1"'-067+%"'%&$+10,)$%"#$%&,@@$0$."%+/6",6*%@61,*,",$+%O%:#6"%@61,*,",$+%&'%8'(%.$$&J%W'(%7,-#"%+(//*$7$."%:,"#%+$;$06*%&,@@$0$."% "8/$+29"SP1%!E$*$1"%6.%6"7'+/#$0$Q%:#6"%5,.&%'@%6"7'+/#$0$%1#6061"$0,B$+% "#$%+/6",6*% @61,*,",$+%8'(%16**%@'0J2%%""#MM\NM"RUbN"XPS`UVU[WK"PNRQ[USLMZUXMK"TSVXN[NLTUNM"QL]"Q[VSMXZNPN"aNPN"]NcQ[N]"

UL" [ZN" ^PS\XM" QM" [ZN" XSM[NPM" aNPN" TSVXRN[N]+" %ZN" PNM\R[M" aNPN" XPNMNL[N]" QL]"]UMT\MMN]"UL"Q"XRNLQPW"MNMMUSL"Q["[ZN"NL]"SY"[ZN"aSPbMZSX+"""".M"VNL[USLN]"QcSONK"[ZN"VQ[NPUQR"XPS]\TN]"cW"[ZN"XQP[UTUXQL[M"^NLNPQRRW"aNL["

[ZPS\^Z"Q"XPSTNMM"SY"[PQLMRQ[USL"cW"[ZN"XPSTNMM"]NMU^LNPM"cN[aNNL"NQTZ"aSPbMZSX+"%ZNMN"XPSTNMMNM"MNNVN]"[S"P\L"UL"[ZN"YSRRSaUL^"aQWK"aU[Z"PNYNPNLTN"[S"aSPbMZSXM"!" QL]" 91" =UPM[K" [ZN" XPSTNMM" ]NMU^LNPM" \L]NP[SSb" Q" [PQLMRQ[USL" SY" [ZN" VQ[NPUQR"XPS]\TN]"UL"aSPbMZSX"!K"aZUTZ"aQM"\MN]"QM"QL"ULX\["[S"[ZN"XRQLLUL^"SY"aSPbMZSX"9+"#L"[ZUM"aQWK"NQTZ"XQP[UTUXQ[USL"QT[UOU[W"MNPON]"QM"ULMXUPQ[USL"[S"YSPV"[ZN"S\[RULN"SY" [ZN" LN`[" QT[UOU[W+"%ZN" PNM\R[M" YPSV"NQTZ" QT[UOU[W"aNPN" [Z\M" \MN]" [S" ULYSPV" [ZN"M\cMNh\NL[" ]NMU^L" XPSTNMMK" LS[" SLRW" UL" PN^QP]M" [S" [ZN" QPTZU[NT[\PQR" ]NMU^L"N`XPNMMUSLK"c\["QRMS"UL"[NPVM"SY"[ZN"SP^QLU_Q[USLQR"M[P\T[\PN+"-\["aZQ["ZQXXNLM"SL"Q"XPQT[UTQR"RNONR"UL"M\TZ"[PQLMRQ[USLM"XPSTNMMNMo""

TH!&45!=79:@>9=;6:!?76A5@@*!G67P;:8!=45!75VC;75P5:=!9:9>Q@;@!

%ZN" XPSTNMM" SY" [PQLMRQ[USL" PNXPNMNL[M" Q" TNL[PQR" XQP[" SY" [ZN" XPSTNMM" ]NMU^LNPHM"VN[ZS]SRS^UTQR"QXXPSQTZ+"#Y"aN"RSSb"Q["[ZN"PNh\UPNVNL["QLQRWMUM"[ZQ["aQM"XPS]\TN]"SL"[ZN"cQMUM"SY"[ZN"PNM\R[M"SY"aSPbMZSX"!"QL]"9K"[ZUM"VQ[NPUQR"MNNVM"[S"ZQON"^SLN"[ZPS\^Z"Q"TSVXRN`"XPSTNMM+"2NPNK"[ZN"XPSTNMM"]NMU^LNPM"[PQLMYSPVN]"RQP^N"QVS\L[M"SY"VQ[NPUQRK"XPS]\TN]" UL" [ZN"aSPbMZSXM1" YQT[\QR"QL]ISP" [NTZLUTQR" ULYSPVQ[USL" [ZQ["]NMTPUcN]" [ZN"TRUNL["SP^QLU_Q[USLHM"T\PPNL["QL]" Y\[\PN"XPQT[UTN+"%ZN"S\[X\["SY" [ZUM"XPSTNMM"aQM"[ZNL"QXXRUN]"QM"QL"ULX\["[S"M\XXSP["[ZN"XPS^PNMMUSL"SY"[ZN"YSP[ZTSVUL^"]NMU^L"MSR\[USL+"#L"[ZUM"XQP[UT\RQP"N`QVXRN"YPSV"aSPbMZSXM"!"QL]"9"U["aQM"\MN]"QM"QL" ULX\[" [S" [ZN" cPUNY" SY" PNh\UPNVNL[M" [ZQ[" S\[RULN]" [ZN" QPTZU[NT[\PQR" TSVXN[U[USL+"%ZN" VQ[NPUQR" [Z\M" MNNVN]" [S" YSPV" Q" TSL[UL\S\M" TZQUL" SY" [PQLMYNPM1" YPSV" ULX\["lXPS]\TN]"cW"[ZN"XQP[UTUXQL[M"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USLm"[S"S\[X\["lXPS]\TN]"cW"[ZN"[PQLMRQ[USL"\L]NP[QbNL"cW"6U^LQR".PbU[Nb[NPm"QL]"[ZNL"cQTb"[S"ULX\["l[S"[ZN"cPUNY"SY"PNh\UPNVNL[MmK"QL]"MS"YSP[Z+""

!!,""

#L" [ZUM" XPSTNMM" SY" [PQLMRQ[USLK" [ZN" XPSTNMM" ]NMU^LNPM" PN]\TN]" [ZN" TSVXS\L]"QVS\L[" SY" VQ[NPUQR" VQ]N" QOQURQcRN" [ZPS\^Z" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" .M" SLN"XPSTNMM" ]NMU^LNP" N`XRQULN]" [S" [ZN" XQP[UTUXQL[M" UL" [ZN" UL[PS]\T[USL" [S" SLN" SY" [ZN"aSPbMZSX1""""qV(0% 7$"#'&% ,+% "'% "65$% 6**% "#$% ,./("% 6.&% 76"$0,6*% 8'(% /0'&(1$% =,.% "#$%

:'05+#'/?%6.&%)',*%,"%&':.%"'%6.%$<"061"A2%""7ZNL"QMbN]"QcS\["aZQ[" [ZN"XPSTNMM"SY" [PQLMRQ[USL"TSLMUM[M"SYK"QLS[ZNP"XPSTNMM"

]NMU^LNP" ULOSRON]" UL" [ZN" XPSdNT[" NVXZQMU_NM" [ZN" UVXSP[QLTN" SY" TQ[N^SPU_UL^" [ZN"ULX\["QL]"]UMT\MMUL^"[ZN"XQ[[NPLM"[ZQ["[ZNPNcW"NVNP^N1"""2M$% 6006.-$% ,"% 6@"$0% (.&$0% #$6&*,.$+% "#6"% :$% "#,.5% 0$/0$+$."% :#6"% "#$%

:'05+#'/% ,+% 6**% 6)'("A% =>?% U6+$&% '.% "#$% :'0&,.-9% :$% -'% ,.% 6.&% /0'1$++% ,"%611'0&,.-%"'%"#$+$%16"$-'0,$+A%=>?%:$%765$%6%;6+"%+/0$6&+#$$"%"#6"%+68+Q%:#6"%#6+%"'% &'%:,"#% "#$,0% *'16",'.6*% (",*,B6",'.9%:#6"% #6+% "'% &'%:,"#% "#$,0% +(//'0"% 0''7+9%:#6"%#6+%"'%&'%:,"#%3G9%:#6"%#6+%"'%&'%:,"#>$"1A%6%:#'*$%*'"%'@%16"$-'0,$+A2%%"." [ZUP]" XPSTNMM" ]NMU^LNPK" aZS" QRMS" XRQWN]" Q" TNL[PQR" XQP[" UL" [ZN" %SaL" 2QRR"

XPSdNT[K"XSUL[M"S\["[ZN"LS[USL"SY"Q"!+"06"$-,1%0$*6",'.+#,/2"cN[aNNL"[ZN"QMXNT[M"[ZQ["QXXNQPN]"[ZPS\^Z"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"QMXUPQ[USLM"]NYULN]"UL"[ZN"TRUNL[HM"SONPQRR"OUMUSLK"SL"[ZN"S[ZNP1""2=M?$% "65$% "#$% =76"$0,6*?% :$% #6;$% @0'7% "#$% :'05+#'/+9% "#0'(-#% "#$%

')+$0;6",'.+9% "#0'(-#% "#$% +(0;$89% "#0'(-#% @61"(6*% ),"+% 6.&% /,$1$+% @0'7% "#$%'0-6.,B6",'.A% M$% )0,.-% 6**% "#,+% )615% #'7$% 6.&% 6++$7)*$% ,"% ,."'% 6% 0$C(,0$7$."%6.6*8+,+% "#6"% ,+% )$,.-% )$.1#7605$&% :,"#% "#$% ;,+,'.A% P.&% "#$.% :$% 6+5Q% :#6"% ,+%/'++,)*$9% 6.&% :#,1#% $*$7$."+% .$$&% "'% )$% 0$+#(@@*$&% ,.% '0&$0% @'0% "#,+% =;,+,'.?% "'%+(11$$&J2%%"#L"[ZUM"h\S[Q[USLK"[ZN"XPSTNMM"]NMU^LNP"PNONQRM"[ZN"[NLMUSL"cN[aNNL"QMbUL^"M[QYY"

PNXPNMNL[Q[UONM"YSP"[ZNUP"ULX\["QL]"M[QWUL^"RSWQR"[S"[ZN"XPNMN["OUMUSL+"#["UM"aU[ZUL"[ZN"YPQVNaSPb" SY" [ZUM" !+"06"$-,1% 0$*6",'.+#,/2" [ZQ[" [ZN" XPSTNMM" ]NMU^LNP" c\UR]M" ZNP"c\MULNMM1" -N[aNNL" [ZN" XPQ^VQ[UT" [PQLMYNPNLTN" SY" ]Q[Q" UL" [ZN" XPSTNMM" SY"TQ[N^SPU_UL^g"[ZN"UL[NPXPN[Q[UON"TSLTNX[USL"SY"[ZN"\MNPHM"QP[UT\RQ[N]"PNh\UPNVNL[M"UL"[ZN"QLQRWMUMK"QL]"[ZN"RSWQR"PNYNPNLTN"cQTb"[S"[ZN"TRUNL[HM"SONPQRR"OUMUSL+"#Y"aN"PNTQRR"

!!A""

[ZN"S\[RULN"UL"*ZQX[NP"!K"Q"cQMUT"U]NQ"ZNPN"MNNVM"[S"cN"[ZQ["Q"c\UR]UL^"XPSdNT["VQW"PNXPNMNL[" QL"SXXSP[\LU[W" [S" QR[NPLQ[N" TNP[QUL" QMXNT[M" [ZQ[" ULOSRON"aSPb"XPSTNMMNMK"XPSYNMMUSLQR" PNRQ[USLMZUXM" QL]" M[P\T[\PN" UL" QL" SP^QLU_Q[USL+" #L" [ZN" %SaL" 2QRR"XPSdNT[K"[ZN"TSZNPNLTN"cN[aNNL"OUMUSLK"XQP[UTUXQ[USLK"[PQLMRQ[USL"QL]"]NMU^L"MSR\[USL"Q[[NVX[N]"[S"cN"MNT\PN]"[ZPS\^Z"TSL[UL\S\M"]UMT\MMUSLM"QL]"LN^S[UQ[USLM"cN[aNNL"[ZN"XPSTNMM"]NMU^LNPM"QL]"[ZN"VQLQ^NVNL["[NQV+"%ZNMN"XPSTNMMNM"aURRK"UL"]UYYNPNL["aQWMK"cN"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"[ZN"YSP[ZTSVUL^"MNT[USLMK"F-"QL]"F*+"""

]H!&45!R7;5G!6G!75VC;75P5:=@*!M;GG575:=!9:M!76C84!

%ZN" PNM\R[M" YPSV"aSPbMZSXM" !" QL]" 9"aNPN" [\PLN]" UL[S" Q" PNh\UPNVNL[" QLQRWMUM"[ZQ["aQM"\MN]"QM"QL"ULX\["[S"ULYSPV"[ZN"aPU[[NL"cPUNY"[ZQ["MN["YSP[Z"[ZN"QPTZU[NT[\PQR"TSVXN[U[USL+""#L"SP]NP"[S"cPUL^"[ZUM"\L[PQ]U[USLQR"VQ[NPUQR"UL[S"[ZN"cPUNYK"[ZN"XPSTNMM"]NMU^LNPM"aNPN"ULOSRON]"UL"[ZN"QT[\QR"XZPQMUL^+"""%ZN"cPUNY"U[MNRY"ULTR\]N]"QL"S\[RULN"SY"[ZN"^NLNPQR"XPNTSL]U[USL"SY"SP^QLU_UL^"[ZN"

XPSdNT["UL"Q"XQP[LNPUL^"M[P\T[\PNK"Q"]NMTPUX[USL"SY"[ZN"[NTZLUTQR"MXNTUYUTQ[USLM"SY"[ZN"c\UR]UL^" MU[Ng" QL"SONPOUNa"SY" [ZN" N`UM[UL^"c\UR]UL^M"SL" [ZN" MU[Ng" QL"S\[RULN"SY" [ZN"XPSdNT[HM" TRUVQ[UT" TSL]U[USLM" QL]" QVcU[USLMg" YQT[\QR" ULYSPVQ[USL" QcS\[" [ZN"V\LUTUXQR"TSL[N`["[ZQ["[ZN"LNa"[SaL"ZQRR"aQM"M\XXSMN]"[S"QTTSVVS]Q[NK"QM"aNRR"QM"bNW"YULQLTUQR"YU^\PNMK"\XSL"aZUTZ"[ZN"XPSdNT["aQM"cNUL^"cQMN]+".]]N]"[S"[ZUMK" [ZN"[N`["TSL[QULN]"Q"XQP[K"aZUTZ"VU^Z["cN"TZQPQT[NPU_N]"QM" n[ZN"SP^QLU_Q[USLQR" ULX\[HK"aZUTZ"MNNVM"[S"ZQON"cNNL"ULYSPVN]"cW"[ZN"PNM\R[M"YPSV"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM+"%ZUM" ]NMTPUX[USLK"aZUTZ" TSONPM","S\[" SY" !E;"XQ^NMK" M[PSL^RW"ZU^ZRU^Z[M"[ZN"[WXN"SY"TRUNL[M"QL]"^\NM[M"[ZQ["[ZN"c\UR]UL^"UM"M\XXSMN]"YQTURU[Q[N1"RSTQR"TU[U_NLMK"XSRU[UTUQLM" QL]" Q]VULUM[PQ[UON" M[QYY+" 2NPNK" U[" UM" [ZN" TSPPNMXSL]NLTN" cN[aNNL" [ZN"c\UR]UL^HM" UL[NL[USLM" QL]" [ZN"LNN]M"SY" [ZNMN"\MNP" ^PS\XM" [ZQ[" QPN" UL" YST\M+" #L" [ZN"YSRRSaUL^" h\S[Q[USL" YPSV" Q" M\cMNh\NL[RW" X\cRUMZN]" QP[UTRNK" SLN" SY" [ZN" XPSTNMM"]NMU^LNPM"ULOSRON]"UL"[ZN"XPSdNT["N`XRQULM"ZSa"[ZN"PNh\UPNVNL["QLQRWMUM"ULYR\NLTN]"[ZN"TSVXN[U[USL"cPUNY1"""q%ZN" PNh\UPNVNL[" QLQRWMUM"aQM" PNYRNT[N]" UL" [ZN" cPUNY" QL]" UL" Q" [NL]NPDVQ[NPUQR"

[ZQ["aQM"]UYYNPNL[RW"TSLYU^\PN]"[ZQL"UL"Q"[PQ]U[USLQR"MN[\X+"#L"[ZN"cPUNYK"[ZN"Z\VQL"PNRQ[USLMZUXM"[ZQ["[ZN"ZS\MN"aQM"M\XXSMN]"[S"QTTSVVS]Q[NK"QM"aNRR"QM"[ZN"]NMUPN]"TSLLNT[USLM"cN[aNNL"[ZN"aSPb"XPSTNMMNM"QL]"[ZNUP"MXQ[UQR"TSL[N`[MK"aNPN"]NMTPUcN]+"#[" [Z\M"spt"[SSb"MSVN"SY" [ZN"MSY[K"Z\VQL"YQT[SPM"QL]"[PQLMRQ[N]"[ZNMN" UL[S"MXQ[UQR"

!9E""

PNh\UPNVNL[M+" %ZN" cPUNY" QRMS" UL]UTQ[N]" [ZN" [WXN" SY" QVcUNLTN" [ZQ[" [ZN" RSTQ[USLM"MZS\R]" M\XXSP[K" QTTSP]UL^" [S" [ZN" QT[UOU[UNM+" %ZN" PNRQ[USLQR" ]NMTPUX[USLM" aNPN"M\XXSP[N]" cW" [ZN" [PQ]U[USLQR" XQP[" SY" [ZN" cPUNYK" QM"aN" bLSa" U[" sYPSV" TSLONL[USLQR"XPS^PQVMtK" UL" aZUTZ" Q" PQL^N" SY" YQT[\QR" TSL]U[USLM" [ZQ[" [ZN" TSVXN[UL^" YUPVM" QPN"M\XXSMN]"[S"Q]]PNMMK"aNPN"RUM[N]+"%ZN"TSVXN[UL^"[NQVM"ZQON"]NYULN]"MSR\[USLM"QL]"OUMUSLM" UL" QL" \LTSLONL[USLQR" VQLLNP" [ZQ[" ZQON" VQ]N" [ZNV" VSPN" SXNL" [SaQP]M"SXXSP[\LU[UNM" [ZQL" UL" [PQ]U[USLQR" TSVXN[U[USLMK" QL]" aZUTZ" VQ]N" [ZNV" XPS]\TN"\L\M\QR"XPSXSMQRM+r"l.L]NPMNL"9EEB1"BFm+""".^QULK" [ZN" XPSTNMM" ]NMU^LNP" ]NYULNM" ZNP" XPS]\T[" QM" SLN" [ZQ[" PNMU]NM" UL" [ZN"

TPSMMPSQ]" cN[aNNL" OUMUSLK" XQP[UTUXQ[USLK" [PQLMRQ[USL" QL]" ]NMU^L" MSR\[USL+" #L" [ZN"h\S[Q[USLK" [ZN" UL[NPMNT[USL" UM" N`NVXRUYUN]"cW"ZSa" [ZN"cPUNY"aQM" M\XXRNVNL[N]"cW"TNP[QUL" qPNRQ[USLQR" ]NMTPUX[USLMrK" aZUTZ" ]UYYNPNL[UQ[N]" [ZN" XPSdNT[" YPSV" [ZQ[" SY"[PQ]U[USLQR"TSVXN[U[USLM+".TTSP]UL^"[S"[ZN"XPSTNMM"]NMU^LNPK"[ZN"PNM\R["aQM"[ZQ["[ZN"TSVXN[UL^"TSLMSP[UQ"XPS]\TN]"q\L\M\QR"XPSXSMQRMr+".RMS"SLN"SY"[ZN"QPTZU[NT[MK"aZS"PNXPNMNL[N]"[ZN"aULLUL^"TSLMSP[U\VK"QTbLSaRN]^N]"[ZQ["[ZN"TSVXN[U[USL"cPUNY"aQM"]UYYNPNL[1""2G#$0$%:6+% +'7$"#,.-% 6)'("% "#$% @'076"% "#6"% +"0(15%7$A% W'(% 1'(*&% $6+,*8% +$$%

"#6"%,"%:6+%+'7$'.$%:,"#%6%&,@@$0$."%;,$:/',."%"#6"%#6&%:0,""$.%"#,+%)0,$@%"#6.%#6&%,"% )$$.% 6.% $.-,.$$0% '0% =6% 1'."061"'0?A% G#$8% :'(*&% #6;$% (+$&% 6% &,@@$0$."% 6.-*$9%"#6"4+% @'0% +(0$A% =>?% 3"% 6*+'% #6&% "'% &'% :,"#% "#$% 1'."$."% 6.&% /0,'0,",B,.-9% :#6"4+%,7/'0"6."%6.&%:#6"%,+.4"A2"""#L"[ZUM"h\S[Q[USLK"ZN"LS["SLRW"PNTS^LU_NM"[ZQ["[ZN"XZPQMUL^"aQM"\L[PQ]U[USLQRK"c\["

U["QRMS"XSUL[M"[S"[ZN"YQT["[ZQ["[ZN"QMXNT[M"[ZQ["QPN"cNUL^"XPUSPU[U_N]"QPN"LS["[ZN"MQVN"QM" UL" [PQ]U[USLQR" XPSdNT[M+" #L" [ZN" MQVN" UL[NPOUNaK" ZN" QRMS" PNYRNT[M" \XSL" [ZN"UVXRUTQ[USLM"M\TZ"]UYYNPNLTNM"VU^Z["ZQON"UL"[ZN"QT[\QR"]NMU^L"XPSTNMM1"""2G#'+$%"#,.-+%=@61"(6*%,.@'076",'.%+(1#%6+%"#$%67'(."%'@%+"6@@?%60$%;$08%*''+$*8%

&$@,.$&A%=>?%S'.4"%6+5%7$%:#8A%U("%"#$8%60$%;$08%;6-($A%P.&%3%16.%/$0#6/+%6*+'%6**':%78+$*@%"'%+68%6)'("%"#$%:#'*$%)0,$@%=>?9%,"%:6+%;$08%0'(-#9%6.&%0'(-#$0%"#6"%"#$8%(+(6**8%60$A%=U("?%#6;,.-%+6,&%"#6"%'.%"#$%'.$%#6.&9%:$%:'(*&%#6;$%*,5$&%,"%"'%#6;$%)$$.%7'0$% @,07% =>?9% ,"% 6*+'%6**':+% @'0%6% 1$0"6,.% @0$$&'7% "'% "#$%/0'1$++%'@%&$+,-.,.-b%"#6"%:$%16.%,.&,0$1"*8% ,.@*($.1$% "#$%/0'-0677,.-%:,"#%'(0%"''*+A%G#6"%'(0% &$+,-.% 16.% 1'."0,)("$% "'% )0,.-% '//'0"(.,",$+% 610'++% "#6"% :$%7,-#"% .'"% #6;$%

!9!""

+$$.%:,"#'("%="#$%0'(-#.$++%"#6"%1#6061"$0,B$&%"#$%)0,$@?A%G#,+%,+%'@"$.%"#$%/0')*$7%:,"#%"#$%;$08%&08%$.-,.$$0%)6+$&%)0,$@+b%8'(%/("%(/%+'%6.&%+'%76.8%+C(60$%7$"$0+%'@% "#,+%6.&% +'%6.&% +'%76.8% +C(60$%7$"$0+%'@% "#6"A%E(1#%6% +$"(/% *'15+%8'(% ,.% "#$%10$6",;$%/0'1$++A2%"2NPNK" ZN" XSUL[M" S\[" [ZN" XQPQ]S`" [ZQ[" [ZUM" [WXN" SY" ULX\[" MNNVM" [S" XPS]\TN1" U["

VU^Z[" cN" XNPTNUON]" QM" ]UYYUT\R[" [S" aSPb" aU[Z" YSP" QL" QPTZU[NT[K" QM" U[" QXXNQPM"UVXPNTUMN" UL" [NPVM" SY" TSLTPN[N" MXQ[UQR" PNh\UPNVNL[MK" aZURN" Q[" [ZN" MQVN" [UVN"ULTR\]UL^"Q"RS["SY"UL]UTQ[USLM+"'L"[ZN"S[ZNP"ZQL]K"ZN"YUL]M"[ZQ["[ZUM"QVcU^\U[W"^UONM"[ZN"QPTZU[NT["QL"ULTPNQMN]"YPNN]SV"UL"[ZN"QT[\QR"QT["SY"]NMU^LUL^+".LS[ZNP"QPTZU[NT["ULOSRON]"UL"[ZN"XPSdNT[K"XSUL[M"S\["ZSa"[ZN"ULX\["YPSV"[ZN"NL]"\MNPM"aNPN"ULTR\]N]"UL" [ZN" cPUNY+" 2NPNK" ZN" N`XRQULM" ZSa" [ZN" QPTZU[NT[M" YPSV"/2&".PbU[Nb[NP" aSPbN]"aU[Z"[ZN"VQ[NPUQR"UL"[ZNUP"TPNQ[UON"XPSTNMM1"""!P+%@'0%"#$%)0,$@9%3%"#,.5%=,"%,**(+"06"$&?%#':%"#$8%:6."$&%"'%:'059%6.&%6*+'%#':%

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cNNL"[S"XPSOU]N"Q"^NLNPQR"SONPOUNa"SY"MSVN"SY"

[ZN" VQUL" NONL[M" [ZQ[" [SSb" XRQTN" UL" [ZN" %SaL" 2QRR" XPSdNT[K" aU[Z" [ZN" SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM"QM"Q"TNL[PQR"XQP["SY"[ZN"XPSdNT["YPQVNaSPb+"."YNa"QMXNT[M"SY"[ZN"aSPb"SY"[ZN"!/0'1$++%&$+,-.$0+2"ZQON"cNNL"]NMTPUcN]K"QL]"#"ZQON"XSUL[N]"S\["[ZQ["[ZN"PNM\R[M"SY"[ZN"ULU[UQR"XPSTNMMNM"SY"NL]"\MNP"XQP[UTUXQ[USL"MNPON]"[S"ULYSPV"[ZN"XPSdNT[HM" QPTZU[NT[\PQR" TSVXN[U[USL+" .RMSK" #" ZQON" NVXZQMU_N]" [ZQ[" [ZN" SP^QLU_N]"XQP[UTUXQ[USL"TQPPUN]"SL"[ZPS\^ZS\["[ZN"XPSdNT[+"#"aURR"PN[\PL"[S"[ZNMN"XSUL[M" UL"[ZN"YSP[ZTSVUL^"MNT[USLM"SY"[ZUM"TZQX[NP"QL]"UL"TZQX[NP"?+"" "

!99""

2'"&.+-!I\*!&#'!+%'-!+YY."'!

3$U+1&!.-!&#'!&+_-!#$33!

%(+`'"&!!

"

+#$(",-!$+"#&

7ZURN" [ZN"XPNOUS\M" MNT[USL"S\[RULN]" MSVN" SY" [ZN" NONL[M" [ZQ[" [SSb"XRQTN" UL" [ZN"XPSdNT["UL"PN^QP]M"[S"[ZN"TSL[NL["SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"[ZUM"MNT[USL"QUVM"[S"]UMT\MM" ZSa" [ZN" XQP[UTUXQ[USL" cNTQVN" ULYR\NL[UQRK" UL" PN^QP]M" [S" SP^QLU_Q[USLQR" QM"aNRR" QM" QPTZU[NT[\PQR" QMXNT[M+"%ZN"XSUL["SY"]NXQP[\PN" UL" [ZN" YSRRSaUL^" M[SPW" UM" [ZN"V\LUTUXQRU[W"Q]VULUM[PQ[USL"M[QYY"VNVcNPMH"QXXQPNL[" PNMUM[QLTN" [S" [ZN"SXNL"SYYUTN"RQWS\[" QM" [ZN" c\UR]UL^HM" ^NLNPQR" MXQ[UQR" M[P\T[\PN+" .R[ZS\^Z" [ZN" SXNL" RQWS\["PNXPNMNL[N]" Q" ^NLNPQR" XPNVUMN" UL" [ZN" XPSdNT[K" [ZN" UMM\N" XNPMUM[N]" QM" QL" UL[NPNM["QVSL^" [ZN"M[QYY" [ZPS\^ZS\[" [ZN"XPSdNT[+" #L" [ZUM"aQWK" U["bNX[" PN[\PLUL^"QM"Q"TNL[PQR"UMM\NK"UL"[ZN"TS\PMN"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+""""%ZN" MN[\X" MNNVM" [S" PNONQR" Q" [NLMUSL" cN[aNNL" [aS" TNL[PQR" XPULTUXRNM" UL" [ZN"

XPSdNT[1" %ZN" LS[USL" SY" [ZN" SXNL" RQWS\[" QM" QL" S\[RULN" [S" ^\U]N" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QM"QL"SXXSP[\LU[W"[S"TSL[PUc\[N"[S"[ZN"ONPW"MQVN"XPSTNMMK"SL"[ZN"S[ZNP+".M"#"aURR"URR\M[PQ[N"QL]"]UMT\MM"cNRSaK" cS[Z" YQT[SPM" VQW" cN" MNNL" QM" PNXPNMNL[Q[UONM" [S" M\XXSP[" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USLHM" QMXUPQ[USL" [S" ]NONRSX" QM" Q" VS]NPL" X\cRUT" SP^QLU_Q[USLK" aZNPN"YRN`UcURU[W"QL]"NL^Q^NVNL["QPN"TSLMU]NPN]"TNL[PQR"QMXNT[M+"".RPNQ]W"QM"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"MN["YSP[ZK"[ZN"M[QYY"TRNQPRW"ScdNT[N]"[S"

!9C""

[ZN"SXNL"RQWS\[K"Q"MNL[UVNL["[ZQ["PNVQULN]"[ZPS\^ZS\["[ZN"XPSdNT[+"-\["Q["[ZN"MQVN"[UVNK" [ZN" NVXUPUTQR"VQ[NPUQR" UL]UTQ[NM" Q" MRU^Z[" MZUY[" UL" [ZN" M[QYYHM" QXXPSQTZ" [S" [ZN"SXNL" RQWS\[K" UL" [ZN" TS\PMN" SY" [ZN" XQP[UTUXQ[USL+" %ZN" PNQMSLM" YSP" [ZUM" MZUY[" TQL" UL"XPULTUXRN"cN"V\R[UXRN1"ULTPNQMN]"UL[NPNM[K"^NLNPQR"QTTNX[QLTNK"PNMU^LQ[USLK"SP"S[ZNP+"-\["]\PUL^"[ZN"XPSdNT[K"[ZN"SXNL"RQWS\["MNNVN]"[S"TSLMSRU]Q[N"QM"Q"lTSLONPMQ[USLQRm"YPQVNaSPbK" [ZPS\^Z"aZUTZ" [ZN" M[QYY" Q]OQLTN]" [ZNUP" TQXQTU[W" [S"LQOU^Q[N"QL]" [Z\M"TSVXPNZNL]"[ZNUP"SaL"XPQT[UTN+"%ZPS\^Z"TSL[UL\S\M"]UMT\MMUSLM"QcS\["[ZN"MXQ[UQR"M[P\T[\PN"SY"aSPb"XPSTNMMNMK"PS\[ULNM"QL]"PNRQ[USLMZUXMK"[ZN"M[QYYHM"XNPTNX[USL"SY"[ZN"SXNL"RQWS\["MNNVN]"[S"M[QcURU_N"QL]"[ZNPNcW"MRU^Z[RW" [S"VS]UYW+"%ZNW"]U]"LS["NL]"\X" NVcPQTUL^" [ZN" M[P\T[\PNK" c\[" [ZNUP" TSL[UL\S\M"]UMT\MMUSLM" QcS\[" [ZUM" lQL]" QRMS"L\VNPS\M"Q]dQTNL["UMM\NMm"^QON"aQW"[S"TNL[PQR"N`TZQL^NM"QcS\["[ZNUP"Y\[\PN"aSPb"XPQT[UTN+"""%ZN"]UMT\MMUSL"cNRSa"[Z\M"ZQM"Q"]S\cRN"TSLLS[Q[USL"[S"U[+"=UPM[K"U["TSLTNPLM"ZSa"

[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["QYYNT["Q"]NMU^L"MSR\[USL1"2Sa"TQL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM" TSL[PUc\[N" [S"VS]UYW" SP" TZQL^N" [ZN" XPNVUMN" SY" [ZN" SXNL" SYYUTN" RQWS\[o"6NTSL]K" U[" ULOSRONM"ZSa" M\TZ"TSLONPMQ[USLM" QcS\[" MXQ[UQR" ]NMU^L"VU^Z[" ULYR\NLTN"[ZN" XQP[UTUXQL[HM" N`XNPUNLTN1" 2Sa" TQL" [ZN" XQP[UTUXQL[HM" XNPTNX[USL" SY" [ZN" SXNL"RQWS\["VS]UYW"SP"TZQL^NK"UL"[ZN"TS\PMN"SY"[ZN"ONPW"MQVN"XPSTNMMo"""#L"SP]NP" [S" N`XRSPN" [ZN" [NLMUSL"cN[aNNL" [ZNMN" [aS"XPULTUXRNM1" [ZN"SXNL" RQWS\["

QL]" [ZN" XQP[UTUXQ[USLK" #" ZQON" cNNL" ULMXUPN]" cW" TNP[QUL" [ZNSPN[UTQR" TSLTNX[M" [ZQ["PNXPNMNL["[ZN"MNLMNVQbUL^"RU[NPQ[\PN"lN+^+"7NUTb"!A?AK"!AAFK"9EE!m+"-NRSaK"#"M[QP["cW"N`XRSPUL^"aZN[ZNP" [ZN"SXNL"SYYUTN" RQWS\[" UL"YQT["TQL"cN"MQU]" [S"ZQON"YSPVN]"Q"]NMU^L" XPNVUMN" UL" [ZN" XPSdNT[+" 2NPNK" #" URR\M[PQ[N" ZSa" U[" aQM" UL[PS]\TN]" QL]"XPNMNL[N]"[S"[ZN"XQP[UTUXQL[M"UL"aPU[[NL"]ST\VNL[M"QL]"SPQR"XPNMNL[Q[USLM+"-QMN]"SL"[ZQ[K" #" ]UMT\MM" [ZN" XQP[UTUXQL[HM" ULTU[NVNL[" [S" bNNX" ]UMT\MMUL^" [ZN" SXNL" M[P\T[\PNK"QL]" [ZN" VQLQ^NVNL[HM" [QT[UTQR" UL]\TNVNL[" [S" ZSR]" SL" [S" U[" QM" Q" XPNTSL]U[USL+" #"Q[[NL]"[S"[ZN"TSLTNX["SY"TSVVU[VNL["lN+^+"7NUTb"!AAFK"9EE!K"6QRQLTUb"!A??K"6[Qa"!A,9m" QL]" NLQT[VNL[" lN+^+" 7NUTb" !A?AK" 7NUTb" N[" QR+" 9EEFm" QM" NL[PUNMK" [ZPS\^Z"aZUTZ"[ZN"M[QYY"VQbN"MNLMN"SY"[ZN"XS[NL[UQR"UVXRUTQ[USLM"[ZQ["[ZN"LNa"MXQ[UQR"RQWS\["TS\R]"TSVXPUMN+"""#L" [ZN" %SaL" 2QRR" XPSdNT[K" [ZN" \MNPM" XRQWN]" cW" [ZN" P\RNM" [ZQ[" TSLM[U[\[N]" [ZN"

XQP[UTUXQ[USL"QT[UOU[UNM"cW"QT[UONRW"NL^Q^UL^"UL"[ZN"aSPbMZSX"]UMT\MMUSLM"QL]"S[ZNP"XQP[UTUXQ[USL"QT[UOU[UNM+"-\["QM"XSUL[N]"S\["QcSONK"[ZNW"QRMS"bNX["NVXZQMU_UL^"[ZQ["

!9;""

[ZNW" YS\L]" [ZN" SXNL" RQWS\[" ULTSVXQ[UcRN" aU[Z" [ZNUP" XPSYNMMUSLQR" XPQT[UTN+" %ZN"VS[UON" [S" \MN" [ZN" XQP[UTUXQ[USL" QM" QL" SXXSP[\LU[W" [S" ^N[" [ZN" XPNVUMN" TZQL^N]" SP"VS]UYUN]" [Z\M"MNNVM" [S"ZQON"cNNL"XPNMNL[+".R[ZS\^Z" [ZN"TSL[UL\S\M"XQP[UTUXQ[USL"QL]" [ZN" ULX\[" [ZQ[" [ZNMN"QT[UOU[UNM"XPS]\TN]K" UL"OQPUS\M"aQWM"MNNVN]" [S" ULYR\NLTN"[ZN"]NXQP[VNL[HM"MXQ[UQR"M[P\T[\PNK"[ZN"SXNL"RQWS\["PNVQULN]"QM"[ZN"cQMUT"M[P\T[\PN"SY" [ZN" c\UR]UL^HM" UL[NPUSP" ]NMU^L+".M" YSP" [ZN" XQP[UTUXQL[MK" [ZNW" QRMS" MNNVN]" [S" ^S"[ZPS\^Z" TNP[QUL" QR[NPQ[USLM+".R[ZS\^Z" [ZNUP"SONPQRR" lLN^Q[UONm" OUNa"SL" [ZUM" MXQ[UQR"RQWS\["aQM"M\M[QULN]"QL]"[ZN"M[P\T[\PN"U[MNRY"PNVQULN]"QM"QL"SP^QLU_UL^"XPULTUXRN"UL"[ZN"YULQR"]NMU^L"MSR\[USLK"cS[Z"XQP[UNM"MNNVN]"[S"^S"[ZPS\^Z"MRU^Z["VS]UYUTQ[USLMK"UL"[ZN"TS\PMN"SY"[ZN"]NMU^L"]NONRSXVNL[+"%ZN"XQP[UTUXQ[USL"VU^Z["[Z\M"cN"MQU]"[S"ZQON"QRRSaN]" [ZN"XQP[UTUXQL[M" [S" ULYR\NLTN" [ZN" ]NMU^L"k" QL]" [S"^N[" ULYR\NLTN]"cW" U[+" #L"SP]NP"[S"URR\M[PQ[N"[ZNMN"VS]UYUTQ[USLMK"#"cPUNYRW"]NMTPUcN"YS\P"NONL[M"UL"[ZN"XPSdNT["[ZQ["VU^Z["ZQON"ULYR\NLTN]"[ZUM"TZQL^N+"#L"[ZUM"]UMT\MMUSLK"#"ZQON"cNNL"ULMXUPN]"cW"0USUQ" QL]" *ZU[[UXN]]UHM" QXXPSQTZ" [S" SP^QLU_Q[USLQR" ]NONRSXVNL[" QL]" M[PQ[N^UT"TZQL^N" QM" PNTUXPSTQR" XPSTNMMNM" SY" MNLMNVQbUL^" QL]" MNLMN^UOUL^" l0USUQ" QL]"*ZU[[UXN]]U"!AA!m+""""

$2%&"'%#&3*6"-$&*#,&$2%&'*($+!+'*$+"#1&!%#$(*3&%=%#$4&*#,&!2*33%#0%4&

7U[Z" PN^QP]M" [S" [ZN" SXNL" SYYUTN" RQWS\[K" MNONPQR" M[\]UNM" ZQONK" SONP" [ZN" WNQPMK"YST\MN]" SL" [ZUM" M[P\T[\PN" QL]" U[M" XS[NL[UQR" UVXRUTQ[USLM" QL]" SXXSP[\LU[UNM" YSP"TSRRQcSPQ[USL" QL]" ]NONRSXVNL[" UL" SP^QLU_Q[USLQR" TSL[N`[M" lTY+" TZQX[NP" 9.m+" %ZN"TSLTNX["MNNVM"[S"TSONP"MNONPQR"QMXNT[M"SY"[ZN"MXQ[UQR"SP^QLU_Q[USL"SY"[ZN"aSPbXRQTNK"[ZN" UMM\N" SY" [ZN" QcMNLTN" SY" aQRRM" QM" cNUL^" Q" TNL[PQR" UMM\N+"7ZURN" [ZN" [PQ]U[USLQR"SYYUTN" RQWS\[" UM"\M\QRRW" PNXPNMNL[N]"cW" UL]UOU]\QR"T\cUTRNM" [ZQ["VQPb" [ZN"XZWMUTQR"cS\L]QPW" cN[aNNL" XNPMSLQR" QL]" X\cRUT" MXQTNK" [ZN" SXNL" SYYUTN" LS[" SLRW" ULOSRONM"OQPUS\M"MU_NM"SY"MZQPN]"SYYUTN"MXQTNK"c\["QRMS"SY[NL"MZQPN]"aSPbM[Q[USLMA+""

"""""""""""""""""""""""""""""""""""""""""""A"%ZN"TSLTNX["[ZQ["UM"PNYNPPN]"ZNPN"UM"TQRRN]"!"#$%61",;,"8%)6+$&%:'05%$.;,0'.7$."2"SP"!.$:%'@@,1$2K"aZUTZ"ULOSRONM"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"M[QYY"VNVcNPK"ZNP"aSPbM[Q[USL"QL]"[ZN"LQ[\PN"SY"ZNP"aSPb+"2NPNK"[ZN"M[QYY"VNVcNPK"aZS"MXNL]M"Q"TNP[QUL"QVS\L["SY"[UVN"QaQW"YPSV"ZNP"aSPbM[Q[USLK"MZQPNM"[ZN"YQTURU[W"aU[Z"QLS[ZNP"SP"S[ZNP"TSRRNQ^\NM+"%ZN"X\PXSMN"UM"[S"\[URU_N"[ZN"SXXSP[\LU[UNM"[ZQ["[ZN"MXQ[UQR"PNMS\PTNM"TQL"SYYNP"QL]" [S" \MN" [ZN" MXQ[UQR" RQWS\[" [S" NLZQLTN" [ZN" SP^QLU_Q[USLHM" QcURU[W" [S" YSP" N`QVXRN" " TSRRQcSPQ[USL" QL]"bLSaRN]^N"MZQPUL^"lN+^+"-dNPP\V"QL]"$UNRMNL"9EECK"2QLMNL"9EE?m+"

!9F""

)H!&45!;:;=;9>!M;9>68C5!@5@@;6:@*!75@;@=9:A5!

#L" [ZN" %SaL" 2QRR" XPSdNT[K" [ZN" TSLYRUT[" cN[aNNL" [ZN" SXNL" RQWS\[" QL]" [ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"QM"[ZN"M[QYYHM"SXXSP[\LU[W"[S"ULYSPV"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"aQM"QXXQPNL["YPSV"[ZN"ONPW"cN^ULLUL^+"5SL^"cNYSPN"[ZN"XPSdNT["MN["YSP[Z"QM"QL" QT[\QR" ]NMU^L" XPSTNMMK" [ZN" <(" aNL[" SL" Q" XPSVS[USL" [S\P" QPS\L]" [ZN"SP^QLU_Q[USLK" [S"XPSOU]N"ULYSPVQ[USL"QcS\["[ZN"XPSMXNT[M"SY" [ZN"LNa"[SaL"ZQRR+"#L"[ZNMN" ]UQRS^\N" MNMMUSLMK" [ZN" SXNL" RQWS\[" aQM" XPNMNL[N]" QM" SLN" SY" [ZN" XPSdNT[HM"TNL[PQR" XPNTSL]U[USLMK" QL]" [ZN" M[QYYHM" PNMUM[QLTN" [SaQP]M" [ZUM" RQWS\["aQM" ScOUS\M+"-\["aZQ["aQM"QRR"[ZN"aSPPW"QcS\[o"%ZN"<("PNYRNT[M"\XSL"U[M"XPQT[UTQR"TSL[NL["UL"QL"UL[NPOUNa1"""!3% "#,.5% ,"% ,+% "#$% @$60%'@% "''%7(1#%.',+$9% "#$% @$60%'@% "''%76.8%&,+0(/",'.+9% "#$%

@$60%'@%6.%'7.,/0$+$."%-*6++%1'.+"0(1",'.%"#6"%765$+%,"%"''%1'*&%,.%"#$%:,."$0%6.&%"''%#'"%,.%"#$%+(77$0%6.&%"#'+$%5,.&+%'@%"#,.-+A%E'%3%&'.4"%"#,.5%"#$0$%,+%6.8"#,.-%.$:%6)'("%,"A%T'"%"#6"%,"%765$+%,"%*$++%,7/'0"6."A2%%"%ZN"<(HM" PNVQPb" SL" [ZN" XPScRNVHM" MSVNaZQ[" XPSMQUT" LQ[\PN" VU^Z[" UL]UTQ[N"

[ZQ["QOQURQcRN"bLSaRN]^N"SL"[ZN"M\cdNT["]SNM"N`UM[K"QL]"[ZQ["k"QM"ZN"XSUL[M"S\["k"[ZN"PNXN[U[USL" SY" TSLTNPL" U[MNRY" UM" UVXSP[QL[+" #Y"VQLW" XNSXRN" bNNX" LS[UTUL^" Q" TNP[QUL"XPScRNVK"U[" UM" RUbNRW"[S"UVXRW"[ZQ[" [ZNPN"UM"MSVN[ZUL^"[S"U[1"XPQT[UTQRK"NVS[USLQR"SP"S[ZNPaUMN+"'L"[ZN"S[ZNP"ZQL]K"ZUM"TSVVNL["SL"MZNNP"PNXN[U[USL"aU[ZS\["!6.8"#,.-%.$:%6)'("%,"2"QRMS"UL]UTQ[NM"[ZQ["[ZN"]UMT\MMUSLM"XNPZQXM"]SLH["^S"ONPW"YQP"QL]"[ZQ["[ZNPN"VU^Z["cN"Q"^NLNPQR"\LaURRUL^LNMM" [S"NL^Q^N" UL" [ZN"SXXSP[\LU[UNM" [ZQ["M\TZ"Q"XPSdNT[" TS\R]" PNXPNMNL[+" %ZN" <(" VU^Z[" [Z\M" ZQON" ZQ]" Q" TNP[QUL" UVQ^N" SY" [ZN"XS[NL[UQR"Q]OQL[Q^NM"[ZQ["[ZN"M[P\T[\PQR"TZQL^NM"aS\R]"TQ\MNK"c\["YSP"[ZN"M[QYY"[ZNMN"VU^Z[" MNNV" SONPaZNRVUL^" QL]" TSLY\MUL^+" %S" [ZNVK" [ZN" LNa" RQWS\[" aS\R]"XS[NL[UQRRW" ULOSRON" M\cM[QL[UQR" TZQL^NM" [S" [ZN" ]QURW" XPQT[UTNK" aSPb" XPSTNMMNMK"PS\[ULNM"QL]"PNRQ[USLMZUXM+".["[ZUM"NQPRW"M[Q^N"SY"[ZN"XPSTNMMK"[ZN"M[QYY"[Z\M"MNNVN]"[S"MZSa"cQMUT"PNMUM[QLTN"[S"[ZNMN"XSMMUcRN"TZQL^NM+".M"SLN"M[QYY"VNVcNP"XSUL[M"S\[1"""!3"4+%.'%+$10$"%"#6"%:$9%"#$%+"6@@9%#6;$%)$$.%0$6**89%0$6**8%:'00,$&9%)$16(+$%:$%

"#,.5%"#6"%'(0%:'05%,+%;$08%:$**%+(,"$&%@'0%+76**%'@@,1$+9%:#$0$%:$%16.%+,"%:,"#%"#$%1*,$."+%6.&%&,+1(++%"#,.-+9%$"1A9%5$$/%'(0%:'05%"'%'(0+$*;$+%6.&%"6*5%'.%"#$%/#'.$9%$"1A2%%"

!9B""

OH!%97=;A;?9=;6:!9@!9!P59:@!=6!5:49:A5!9:M!?75?975!G67!9!

A49:85M!?79A=;A5!!

#L" [ZN" h\S[Q[USL" QcSONK" [ZN" M[QYY"VNVcNP" ]NMTPUcNM"aZW" MZN" ]SNMLH[" YUL]" [ZN"SXNL"RQWS\["M\U[QcRNK"QL]"UL]UTQ[NM"[ZQ["MZN"N`XNT[M"ZNP"XPNMNL["aSPb"XPSTNMMNM"QL]"PNMXSLMUcURU[UNM" [S" TSL[UL\N" UL" [ZN" LNa" c\UR]UL^" k" QY[NP" [ZN" VNP^NP+" #[" UL]UPNT[RW"URR\M[PQ[NM"Q"TZQRRNL^N"[ZQ["[ZN"LS[USL"SY"Q"TRSMNP"RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"QL]"[ZN"SP^QLU_Q[USLQR"]NMU^L"XPSTNMMNM" MNNVM" [S"NL[QUR+"2NPNK" QL"QMXNT["SY" [ZN" RULbHM"XS[NL[UQR"TS\R]"cN"[ZQ["Q"LNa"MXQ[UQR"YPQVNaSPb"TQL"M\XXSP["LNa"aQWM"SY"aSPbUL^"QL]"LNa"XPSYNMMUSLQR"PNRQ[USLMZUX+"'LN"aQW"[S"NLZQLTN"M\TZ"]NONRSXVNL[M"VU^Z["cN" [ZPS\^Z" ULOU[UL^" [ZN" M[QYY" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+"%ZN" U]NQ" UM" [S"TPNQ[N" Q" TRSMNP" RULb" cN[aNNL" [ZN" QPTZU[NT[" QL]" [ZN" NL]" \MNPK" UL" SP]NP" [S" MNT\PN"TSZNPNLTN" cN[aNNL" [ZN" QPTZU[NT[\PQR" ]NMU^L" QL]" [ZN" QT[UOU[UNM" [ZQ[" [ZN" c\UR]UL^" UM"M\XXSMN]" [S"QTTSVVS]Q[N+"%ZUM"]NMUPN]"XPS`UVU[WK"ZSaNONPK" UM"LS["SLRW"cN[aNNL"TRUNL[" QL]" QPTZU[NT[" UL" [ZN" QT[\QR" ]NMU^L" XPSTNMM+" #[" QRMS" MNNVM" [S" PN^QP]" [ZN"PNRQ[USLMZUX"SP"[PQLMU[USL"cN[aNNL"XPNMNL["QL]"Y\[\PN"aSPb"XPSTNMMNM+"""-\[" ZSa" TQL" [ZN" \MNPM" ZQON" QL" SXULUSL" SY" [ZN" MXQTN" [ZQ[" UM" M\XXSMN]" [S"

QTTSVVS]Q[N"[ZNUP"Y\[\PN"aSPb"XPQT[UTNo".M"aN"bLSa"YPSV"MNONPQR"M[\]UNMK"\MNPM"aZS"QPN"ULOU[N]"[S"TSL[PUc\[N"[S"QL"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"QPN"RUbNRW"[S"M\^^NM["]UM^\UMN]"ONPMUSLM"SY"[ZNUP"XPNMNL["aSPbMXQTN"lN+^+"7NUTb"9EECK"0NZPW"9EE;m+"#["UM"]UYYUT\R[" YSP" M[QYY" [S"NLOUMUSL"Q"aSPb"XPQT[UTN" [ZNW"]SLH["bLSa"k"NMXNTUQRRW"aZNL"[ZN" Y\[\PN" ULOSRONM" Q" VNP^NP" cN[aNNL" [aS" SP^QLU_Q[USLM+" %ZNW" ]SLH[" ZQON" [ZN"XPNPNh\UMU[NM"[S"^S"cNWSL]"[ZN"TSL]U[USLM"[ZQ["TSLM[U[\[N"[ZNUP"XPNMNL["XPQT[UTN+"""%ZN"XPScRNV"TQL"cN"TSLMU]NPN]"[ZPS\^Z"[ZN"TSLTNX["SY"NLQT[VNL["lTY+"MNT[USLM"

9-" QL]" B-m+"7N"VQbN" MNLMN" SY" [ZN" TZQL^NM"aN" QPN" M\cdNT[N]" [S" UL" PN[PSMXNT[" k"M\cMNh\NL["[S"[ZN"QT[\QR"NONL[M"[ZQ["TSLM[U[\[N]"[ZNMN"TZQL^NM+"&NQRU[W"UM"XNPTNUON]"QL]"LN^S[UQ[N]"SL"Q"TS^LU[UON" RNONR"QVSL^"XNSXRN" UL"Q" MSTUQR"TSL[N`[+"2NPNK" [ZNW"cQMN"[ZNUP"XNPTNX[USL"QL]"LN^S[UQ[USLM"SL"N`XNPUNLTN1"%ZNW"TQLLS["bLSa"aZQ["[ZNW"[ZULb"\L[UR"[ZNW"MNN"aZQ["[ZNW"MQWK"QM"7NUTb"PNXNQ[N]RW"S\[RULNM"lN+^+"7NUTb"!A?AK"!AAFK" 9EE!m+"7N"VU^Z[" [Z\M" MQW" [ZQ[" XNSXRN" UL" QL" SP^QLU_Q[USL" TQL" QL]" MZS\R]"]UMT\MM"aZQ["[ZNW"]S"QL]"ZQON"]SLNK"QL]"[ZNPNcW"UL]UTQ[N"SXXSP[\LU[UNM"[S"VS]UYW"[ZNUP" XPQT[UTNK" aZUTZ" [ZNW" TQL" M\cMNh\NL[RW" QT[" \XSL" l7NUTb" !A?Am+" -\[" [ZNW"TQLLS["QL[UTUXQ[N"[ZNUP"Y\[\PN"XPQT[UTN"lQL]"[ZN"MXQ[UQR"TSLMNh\NLTNM"SY"M\TZm"SL"[ZN"

!9?""

cQMUM"SY"TZQL^N"NONL[M"[ZQ["QPN"ZU[ZNP[S"LS["TSVXPNZNLMUcRN"[S"[ZNV+"&NTQRRUL^"[ZN"S\[RULN" SY" [ZN" %SaL"2QRR" XPSdNT[K" [ZN" TZQL^N" NONL[M" [ZQ[" [ZN" SXNL" RQWS\[" SY" [ZN"aSPbMXQTN"PNXPNMNL[M" UM"M[URR"\LbLSaL"[NPPU[SPW"[S"[ZN"M[QYY"VNVcNPM+"%ZNUP" ULU[UQR"PNMXSLMN"[S"[ZN"RQWS\["UM"[Z\M"cQMN]"SL"[ZN"MXQ[UQR"M[P\T[\PN"[ZNW"ZQON"bLSaRN]^N"SY"k" QL]" QRMS" SL" aZQ[" UM" MQU]" QcS\[" [ZN" SXNL" SYYUTN" UL" [ZN" X\cRUT" ]NcQ[N+" %ZN"XQP[UTUXQ[USL"VU^Z[" [Z\M"cN"MQU]" [S" Y\P[ZNP"TSL[PUc\[NK" UL"SP]NP" [S"]UMT\MM"N`UM[UL^"XPQT[UTN" QL]" [ZNPNcW" TSVXPNZNL]" [ZUM" [ZPS\^Z" XPS]\TUL^" qMZQPN]" N`XNPUNLTNr"l7NUTb" !AAF1" !,,K" 6VUPTUTZ" !A,Cm+" 2NPNK" [QRb" UM" [ZN" ONZUTRNK" [ZPS\^Z" aZUTZ"XPQT[UTN"TQL"cN"\L]NPM[SS]"QL]"VS]UYUN]"lN+^+"7NUTb"!AAFK"7NUTb"N["QR+"9EEFm+"%ZN"XQP[UTUXQ[USL"QT[UOU[UNM"UL"[ZN"%SaL"2QRR"XPSdNT["QPN"MNLMNVQbUL^"XPSTNMMNMK"aZUTZ"SY[NL"^S"[ZPS\^Z"TNP[QUL"M[NXM"SY"NOSR\[USLK"UL"SP]NP"[S"NM[QcRUMZ"QL]"XPSTNN]+"#L"[ZN"ULU[UQR"]UMT\MMUSLM"SY"[ZN"XQP[UTUXQ[USLK"[ZN"PNMUM[QLTN"[SaQP]M"[ZN"SXNL"RQWS\["VU^Z["ZQON" MNNVN]" M\cM[QL[UQR+" -\[" QM" #" aURR" ]UMT\MM" cNRSaK" [ZUM" PNMUM[QLTN" VU^Z["NONL[\QRRW" PNONQR" Y\P[ZNP" XNPMXNT[UONM" [S" U[K" QL]" NONL" cN" TSLMU]NPN]" MSVNaZQ["TSLM[P\T[UON+""""

TH!&D6!6??6@;=5!>68;A@*!=45!6?5:!>9Q6C=!9:M!=45!?97=;A;?9=;6:!

9A=;B;=;5@!!

=PSV"SLN"OUNaXSUL[K"aN"VU^Z["MQW"[ZQ["[ZN"XPNVUMN"SY"[ZN"SXNL"RQWS\["QL]"QRMS"[ZQ["SY"NL]"\MNP"XQP[UTUXQ[USL"VQW"PNXPNMNL["Q"YP\U[Y\R"TSVcULQ[USL"[ZQ["TQL"M\XXSP["cS[Z"]NMU^L"XPSTNMMNM+"%ZN"TSLONPMQ[USLM" [ZQ[" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TQ[QRW_N"QVSL^"[ZN"M[QYY"VU^Z["XPSOU]N"[ZNV"aU[Z"LNa"ULMU^Z["UL[S"T\PPNL["aSPb"XPSTNMMNM"QL]" [Z\M" ^UON" [ZNV" UL]UTQ[USLMK" \XSL" aZUTZ" [ZNUP" YSP[ZTSVUL^" XPQT[UTN" TQL" cN"]UMT\MMN]+"2NPNK" [ZN"SXNL"SYYUTN" RQWS\["TQL"cN" MNNL"QM" PNXPNMNL[UL^" [ZN"LNaK"QL]"[ZN" XQP[UTUXQ[USL" QT[UOU[UNM" Q" aQW" YSP" [ZN" M[QYY" VNVcNPM" [S" TSVXPNZNL]" U[M"UVXRUTQ[USLM"QL]"SXXSP[\LU[UNM+"""%S" [ZN" QPTZU[NT[MK" [ZN" PNM\R[M" SY" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" VU^Z[" XPSOU]N"

PNRNOQL[" ULYSPVQ[USL1" YQT[\QR" XUNTNM" SY" ULYSPVQ[USL" QM" aNRR" QM" VSPN" QcM[PQT["TSLMU]NPQ[USLMK" aZUTZ" TQL" M\XXSP[" [ZN" ]NONRSXVNL[" SY" [ZN" ]NMU^L" MSR\[USL+" #L"Q]]U[USLK"[ZN"SXNL"RQWS\["VQW"MNNV"XPS]\T[UON"[S"[ZN"QPTZU[NT[M+"=UPM[K"U["MNPONM"QM"Q"^NLNPQR" PNh\UPNVNL[" UL" [ZN" TSVXN[U[USL" cPUNYK" \XSL" aZUTZ" [ZNW" TQL" c\UR]" [ZNUP"]NMU^L" TSLTNX[" UL" QTTSP]QLTN"aU[Z" [ZN" TRUNL[HM" ^NLNPQR" LNN]M" QL]"aUMZNM+"5UbN" Q"

!9,""

c\]^N[K" Q"c\UR]UL^"MU[NK"SP" S[ZNP" ULc\UR["XPNTSL]U[USLM+"6NTSL]K" [ZN"SXNL" RQWS\[" UM"nSXNLH1"U["ULOSRONM"Q"RS["SY"MXQTN"[ZQ["TQRRM"YSP"Q"]NMU^L+"#L"[ZUM"aQWK"U["XPSOU]NM"[ZN"QPTZU[NT["aU[Z"Q"]NMU^L"SXXSP[\LU[W+"%ZUP]K"[ZN"SXNL"RQWS\["UM"aZQ["QPTZU[NT[M"bLSa"YPSV" [ZNUP" SaL"aSPb" NLOUPSLVNL[1".PTZU[NT[\PN" YUPVM" [PQ]U[USLQRRW"aSPb" UL"SXNL"SYYUTNM+"#L"[ZUM"aQWK"[ZN"[aS"XPNVUMNM"SY"[ZN"SXNL"RQWS\["SL"[ZN"SLN"ZQL]K"QL]"[ZN"XQP[UTUXQ[USL" QT[UOU[UNMK" SL" [ZN" S[ZNPK" TQL" cN" MNNL" QM" Q" aQWK" [ZPS\^Z" aZUTZ" [ZN"SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L"TQL" XPS^PNMM" UL" PNTUXPSTQR" N`TZQL^NMK"QL]"[Z\M"Q"aQW"YSP"Q"TRSMNP"RULb"[S"NVNP^N+""=PSV"QLS[ZNP"OUNaXSUL[K"ZSaNONPK"[ZNMN"[aS"SP^QLU_UL^"XPULTUXRNM"TQL"cN"MNNL"

QM" ULTSVXQ[UcRNK" UL" [ZN" MNLMN" [ZQ[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"aS\R]" NLZQLTN" QL]"YQTURU[Q[N"]UMT\MMUSLM"QcS\["]NTUMUSLM"[ZQ["QPN"QRPNQ]W"VQ]N+"2NPNK"[ZN"XQP[UTUXQ[USL"UM" XNPTNUON]" QM" QL" SXXSP[\LU[W" [S" \L]NP[QbN" SP^QLU_Q[USLQR" ]NONRSXVNL[MK" aU[Z"PNYNPNLTN"[S"YSP"N`QVXRN"[ZN"VNP^NP"cN[aNNL"[ZN"[aS"V\LUTUXQRU[W"Q]VULUM[PQ[USLM+"#L" [ZUM" XNPMXNT[UONK" TNP[QUL" M[PQ[N^UT" ]UPNT[USLM" YSP" TZQL^N" MNNV" [S" ZQON" cNNL"XPSXSMN]K" YSP"N`QVXRN" [ZPS\^Z"Q"LNa" UL[NPUSP" RQWS\[" QM" Q"VNQLM" [S"NLZQLTN"LNa"aQWM"SY"aSPbUL^+"%ZN"M\cM[QL[UQR"QVS\L["SY"XQP[UTUXQ[USL"QT[UOU[UNM"TS\R]"[Z\M"cN"XNPTNUON]"QM"Q"aQW"[S"UVXRNVNL["[ZNMN"TZQL^NM+"6\TZ"QL"QXXPSQTZ"VU^Z["RNQON"LS["SLRW" [ZN"XQP[UTUXQL[MK" c\[" QRMS" [ZN"XQP[UTUXQ[USL" QT[UOU[UNM" QM" Q"VN[ZS]K" UL" Q"aNQb"XSMU[USL+".M"XSUL[N]"S\["UL"[ZN"XQPQ^PQXZ"QcSONK"U["UM"^NLNPQRRW"]UYYUT\R["YSP"[ZN"M[QYY"[S"YSPNMNN"[ZNUP"Y\[\PN"aSPb"XPQT[UTN+"2NPNK"[ZNUP"ULX\["VU^Z["cN"MNNL"QM"PN]\L]QL[K"aU[Z" PNYNPNLTN" [S" [ZN" UL]UTQ[N]" M[PQ[N^UT" ]UPNT[USLM+" ." M[QYY" VNVcNP" QT[UONRW"ULOSRON]" UL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" ]NMTPUcNM" ZNP" \L]NPM[QL]UL^" SY" [ZN" SXNL"SYYUTN" RQWS\[" QL]" [ZN" SXXSP[\LU[UNM" [ZQ[" [ZN" XQP[UTUXQ[USL" MNNVN]" [S" NL[QUR" UL" QL"UL[NPOUNa"MU[\Q[USL1%%%!=M?$% #6&% +'7$% 7$$",.-+% 6)'("% ,"9% 6.&% "#$% +"6@@% &,&% 1'7$% :,"#% +'7$%

+"6"$7$."+9%)("%,"%:6+%76&$%1*$60%;$08%C(,15*8%"#6"%,"%:6+.4"%-',.-%"'%)$%*,5$%"#6"A%=>?%G#$%+"6@@%1'(*&%5,15%6.&%+10$67%O%76.6-$7$."%#6&%6*0$6&8%&$1,&$&%"#6"%:$%:'(*&%#6;$%"#$+$%'/$.%'@@,1$+A2%"""-QMN]"SL" [ZNMN" [aS"OUNaXSUL[MK"aN"VU^Z["MQW" [ZQ["NL]"\MNP"XQP[UTUXQ[USL"QM"Q"

VN[ZS]"ULOSRONM"Q"TSL[PQ]UT[USL"cN[aNNL"cNUL^"SL"[ZN"SLN"ZQL]"^NLNPQ[UON"QL]"SL"[ZN" S[ZNPK" XPNVN]UQ[N]+" #[" UM" ^NLNPQ[UONK" UL" [ZN" MNLMN" [ZQ[" U[" NLQcRNM" [ZN" M[QYY" [S"ULOSRON" UL" UVXSP[QL[" ]UMT\MMUSLM" QcS\[" [ZNUP" XPNMNL[" XPSYNMMUSLQR" XPQT[UTN" QL]" U[M"XSMMUcRN"Y\[\PN"]NONRSXVNL[MK"aU[Z"PNYNPNLTN"[S"[ZN"YSP[ZTSVUL^"MXQ[UQR"YPQVNaSPb+"

!9A""

-\["cW"UL[PS]\TUL^"[ZN"SXNL"RQWS\["QM"QL"UL[N^PQ[N]"XPNVUMNK"U["VU^Z["QRMS"cN"MQU]"[S"XPNVN]UQ[N"QL]"[Z\M"\L]NPVULN"[ZN"NL]"\MNPHM"ULYR\NL[UQR"SXXSP[\LU[UNM+"""

]H!&45!6?5:!>9Q6C=*!9!P5A49:;@P!=6!@67=!=45!;:?C=!?76MCA5M!;:!

=45!?97=;A;?9=;6:!

#L"[ZN"%SaL"2QRR"XPSdNT[K"QM"UL"VSM["c\UR]UL^"XPSdNT[M"SY"Q"TNP[QUL"MU_NK"MNONPQR"XPQT[UTQRK" YULQLTUQR"QL]" [NTZLUTQR"]NTUMUSLM"aNPN"QRPNQ]W"VQ]NK"XPUSP" [S" [ZN"QT[\QR"]NMU^L"XPSTNMM+"%ZNMN"]NTUMUSLM" YSPVN]" Q" YPQVNaSPb"SY" PNM[PUT[USLMK" \XSL"aZUTZ"[ZN" XPSdNT[" TS\R]" cN" TSLTNUON]" QL]" M\cMNh\NL[RW" NVNP^N+" .M" aURR" cN" ]NMTPUcN]"cNRSaK" SLN" SY" [ZN" ]ST\VNL[M" [ZQ[" ]NMTPUcN]" [ZNMN" TSL]U[USLM" TSL[QULN]" Q" MN[" SY"!,."$0,'0% &$+,-.% /0,.1,/*$+2K" ]NYULN]" cW" [ZN" V\LUTUXQRU[W" VQLQ^NVNL[" QL]"XPNMNL[N]"UL"SLN"SY"[ZN"UL[NPLQR"XPSdNT["]NMTPUX[USLM+"%ZNMN"XPULTUXRNM"S\[RULN]"[ZN"XPNMN["]NTUMUSLM" [ZQ[" PN^QP]N]" [ZN" UL[NPUSP" RQWS\["SY" [ZN"ZS\MNK" QL]"TS\R]" [Z\M"cN"TSLMU]NPN]" Q"aQW" [S" MSP[" [ZN" YSP[ZTSVUL^" ULX\[" YPSV" [ZN" \MNPM+"." YUR[NPK" [ZPS\^Z"aZUTZ" [ZN"VQ[NPUQR"XPS]\TN]" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"TS\R]"cN"SP^QLU_N]+" #["VQW" PNVUL]" \M" SY" [ZN" TSLTNX[" cPQTbN[UL^" lTY+" MNT[USLM" 9-" QL]" B-m1" q6TZNVQ[Q"TSLM[PQUL"MNNUL^"QL]K"[ZNPNYSPNK"MNPON"[S"cPQTbN["XSP[USLM"SY"N`XNPUNLTNr"QM"7NUTb"N`XRQULM" U[" l!A?A1" !F;m+" 6\TZ" XPNVN]UQ[N]" TSL]U[USLM" SY[NL" ULYR\NLTN" S\P"XNPTNX[USL" UL" Q" TNP[QUL" ]UPNT[USL+" %ZN" TSLMNh\NLTN" SY" [ZN" XPSdNT[" S\[RULN" UL" [ZN"%SaL"2QRR"XPSdNT["UM"[ZQ["QR[ZS\^Z"[ZN"XQP[UTUXQL[M"PNXNQ[N]RW"XSUL[N]"S\["[ZQ["[ZNW"XPNYNPPN]" UL]UOU]\QR" SYYUTNM" [S" [ZN" SXNL" RQWS\[K" [ZUM" ULX\[" aS\R]" LS[" PNM\R[" UL" Q"[PQ]U[USLQR" SYYUTN" RQWS\[" QM" [ZN" S\[X\[+" %ZN" M[QYY"VNVcNP" UL" [ZN" XQPQ^PQXZ" QcSON"URR\M[PQ[NM" [ZUM" cW" M[Q[UL^" [ZQ[" [ZN" XQP[UTUXQL[M" !1'(*&% 5,15% 6.&% +10$672" c\[" [ZN"XPNVUMN" SY" [ZN" SXNL" RQWS\["aS\R]" M[URR" PNVQUL+" %ZN"!,."$0,'0% &$+,-.% /0,.1,/*$+2"VU^Z[" [Z\M" cN" MQU]" [S" ZQON" PNXPNMNL[N]" Q" MN[" SY" P\RNMK" aU[ZUL" aZUTZ" ]UMT\MMUSLM"QcS\["[ZN"YSP[ZTSVUL^"MXQ[UQR"M[P\T[\PN"TS\R]"cN"SP^QLU_N]+"""

IH!&45!6?5:!>9Q6C=!9:M!=45!?97=;A;?9=;6:!9@!P59:@!=6!G67P!9!

P6M57:!6789:;<9=;6:!

%\PLUL^"[SaQP]M"ZSa"[ZN"SXNL"RQWS\["VU^Z["cN"MNNL"QM"QL"SXXSP[\LU[W"YSP" [ZN"VQLQ^NVNL["[S"NLZQLTN"Q"TNP[QUL"M[PQ[N^UT"]UPNT[USL1"2Sa"]U]"[ZN"<("TSLMU]NP"[ZN"SXNL"RQWS\["QL]"U[M"PSRN"UL"[ZN"]NMU^L"XPSTNMMo"""

!CE""

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h\S[Q[USL"YPSV"QL"UL[NPOUNaK"ZN"UL]UTQ[NM"Q"RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"

QL]" [ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM" cW" QXXSUL[UL^" ZSa" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USLHM"M[PQ[N^UT"QMXUPQ[USLM"VU^Z["cN"M\XXSP[N]"[ZPS\^Z"[ZN"YSP[ZTSVUL^"MXQ[UQR"YPQVNaSPb+"#L"[ZUM"!@,0+"%/60"%'@%"#$%/0'1$++2"[ZN"SXNL"RQWS\["aQM"LQ[\PQRRW"NLPSRRN]"UL"!"#$%"8/$%'@%0$C(,0$7$."+%"#6"%6.%6&7,.,+"06",'.%)(,*&,.-%,+%+(//'+$&%"'% #'.'02+" #[" MNPON]" QM" QL" UL[N^PQ[N]" XQP[" SY" [ZN" ]NMU^L" MSR\[USLK" PQ[ZNP" [ZQL" Q"XS[NL[UQRU[W"UL"[ZN"XPSTNMM"SY"]NONRSXUL^"[ZN"]NMU^L+"'LN"SY"[ZN"PNM\R[M"aQM"[ZQ["[ZN"SXNL"RQWS\["aQM"ULTR\]N]"QM"Q"XPNTSL]U[USL"UL"[ZN"cPUNY"SY"PNh\UPNVNL["[ZQ["ULU[UQ[N]"[ZN" ]NMU^L" XPSTNMM" UL" [ZN" YUPM[" XRQTN+" -W" XPSXSMUL^" [ZQ[" [ZN" RQWS\[" MZS\R]" cN"!@*$<,)*$% 6.&% $6+8% "'% 0$+"0(1"(0$2K" ZN" UL]UPNT[RW" QMM\VNM" [ZQ[" [ZN" SXNL" RQWS\["aS\R]"PNXPNMNL["[ZN"VSM["YRN`UcRN"M[P\T[\PN+"#L"[ZUM"aQWK"ZN"M\^^NM[M"Q"RULb"cN[aNNL"[ZN" V\LUTUXQRU[W" Q]VULUM[PQ[USLHM" M[PQ[N^UT" QMXUPQ[USLM" QL]" [ZN" h\QRU[UNM" [ZQ[" [ZN"SXNL"RQWS\["TQL"XPSOU]N+"""-\[" ZSa" aS\R]" [ZN" <(" bLSa" [ZQ[" [ZN" SXNL" RQWS\[" UM" [ZN" VSM[" QXXPSXPUQ[N"

M[P\T[\PN" [S"QTTSVVS]Q[N"Q"VNP^N]"SP^QLU_Q[USL" [ZQ["TSL[QULN]" [aS"V\LUTUXQRU[W"Q]VULUM[PQ[USLMo"2N"QUVN]"[S"MN["YSP[Z"TNP[QUL"XPSTNMMNM"SY"SP^QLU_Q[USLQR"TZQL^N"lYSP"N`QVXRN"[ZN"VNP^NP"U[MNRYK"QL]"[ZN"SXNL"SYYUTN"RQWS\["QM"VNQLM"[S"M\XXSP["U[mK"UL"QTTSP]QLTN"aU[Z"TSL[NVXSPQPW"MSTUN[QR"PNh\UPNVNL[M"[ZQ["ULOSRON]"M[P\T[\PN"QL]"MNPOUTN"UL"RQP^N"X\cRUT"SP^QLU_Q[USLM+"2UM"QXXPSQTZ"[S"[ZUM"aQM"Q"cS[[SVD\XK"PQ[ZNP"[ZQL"Q"[SXD]SaL"XPSTNMMK"QL]"[ZN"TNL[PQR"ONZUTRN"[S"QTTSVVS]Q[N"[ZN"XPSTNMM"aQM"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL+" #L" [ZUM"aQW" [ZN"M\cM[QL[UQR"L\VcNP"SY"]UQRS^\NDcQMN]"QT[UOU[UNMK" UL"aZUTZ" [ZN" M[QYY"^S[" ULOSRON]" UL" [ZN"]NMU^L"SY" [ZN" YSP[ZTSVUL^"c\UR]UL^K" cNTSVNM" Q" PNXPNMNL[Q[UON" YSP" Q" VS]NPL" SP^QLU_Q[USL+" 2NPNK" [ZN" SXNL"SYYUTN"RQWS\["VU^Z["cN"XNPTNUON]"QM"Q"VNQLM"[S"M\XXSP["M\TZ"MSTUN[QR"XPNPNh\UMU[NM"QL]"[Z\M"QM"Q"aQW"[S"MU^LQRU_N"VS]NPLU[W+"#["UM"TZQPQT[NPU_N]"cW"SXNL"QPNQMK"aU[ZUL"aZUTZ"[ZN"XPS`UVU[W"cN[aNNL"[ZN"M[QYY"TQL"QR[NPLQ[NK"QL]"aZNPN"VSONQcRN"XQP[U[USLM"TQL" cN" QXXRUN]" UY" LNTNMMQPW+" %ZN" TSLTNX[" QRMS" ULOSRON]" [ZN" U]NQ" SY" XPSOU]UL^"]UYYNPNL["MXQ[UQR"YQTURU[UNM"lRS\L^N"QPNQMK"MVQRR"TSYYNN"M[Q[USLM"QL]"VSPNmK"UL"SP]NP"[S"

!C!""

M\XXSP[" [ZN" M[QYY" UL"N`XRSPUL^"LNa"aQWM"SY"aSPbUL^"QL]"NLZQLTN"TSVV\LUTQ[USL"lN+^+" (\YYW" !AA?K" -dNPP\V" QL]" $UNRMNL" 9EECK" (\YYW" QL]" 7SP[ZUL^[SL" 9EE;K"2QLMNL" 9EE?m+" %ZN" XQP[UTUXQ[USL" QT[UOU[UNM" VU^Z[" [Z\M" ZQON" cNNL" YQTURU[Q[N]" QL]"XPNVN]UQ[N]"lUL"SP]NP"[S"M\U["[ZN"SXNL"RQWS\["QM"Q"cQMUT"XPNVUMNmK"c\["[ZNW"aNPN"M[URR"SXNL"UL"[ZN"MNLMN"[ZQ["[ZQ["U["aQM"cQMN]"SL"N`TZQL^NM"cN[aNNL"[ZN"]UYYNPNL["XQP[UNM"ULOSRON]+" .M" SLN" M[QYY" VNVcNPK" QT[UONRW" ULOSRON]" UL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"]NMTPUcNM"[ZN"[NLMUSL"UL"QL"UL[NPOUNa1"""!M$%:$0$%#$60&%6.&%:$%:$0$%6**':$&%"'%+/$65A%U("%,"%:6+%&$1,&$&%"#6"%,"%:6+%

+(//'+$&%"'%)$%6%7'&$0.%"':.%#6**9%,.%"#6"%:68A%G#$%@61"%"#6"%,"%:6+%'/$.%'@@,1$+A2"""%ZN"h\S[Q[USL"S\[RULNM"[ZN"XS[NL[UQR"VUMVQ[TZ"cN[aNNL"SP^QLU_N]"XQP[UTUXQ[USL"

QM" Q"VN[ZS]" [S" NLZQLTN" NL^Q^NVNL[K" SL" [ZN" SLN" ZQL]K" QL]" [ZN" SXNL" RQWS\[" QM" Q"YU`N]"M[P\T[\PN" [ZQ[" UL]UPNT[RW"TSLM[PQULM" [ZN"ONPW"MQVN"NL^Q^NVNL[K"SL" [ZN"S[ZNP+"%ZN"<("[Z\M"YUL]M"ZUVMNRY"cN[aNNL"[aS"TNL[PQR"XNPMXNT[UONM1"SY"]NTUMUSLM"QM"YU`N]"QL]"SY"]NTUMUSLM"QM"NVNP^UL^+""

"#&2"5&$2%&"'%#&3*6"-$&*#,&$2%&'*($+!+'*$+"#&5%(%&+#$(",-!%,&$"&$2%&4$*))&

#L" [ZN"XQPQ^PQXZM"QcSON" #"ZQON" URR\M[PQ[N]" [ZN" MSVNaZQ["TSVXRN`" PNRQ[USLMZUX"cN[aNNL" [ZN" SXNL" SYYUTN" RQWS\[" QM" Q" XPNVUMN" QL]" [ZN" NL]" \MNP" XQP[UTUXQ[USL" QM" Q"VN[ZS]+" -NTQ\MN" [ZN" M[QYY" bNX[" ]UMT\MMUL^" [ZN" SXNL" SYYUTN" M[P\T[\PNK" aZURN" [ZN"RQWS\[" QM" Q" M[P\T[\PQR" XPULTUXRN" PNVQULN]K" #" ZQON" cNNL" UL[NPNM[N]" UL" ZSa" [ZNMN"YQT[SPM"aNPN"UL[PS]\TN]"[S"[ZN"M[QYY"QM"Q"XQP["SY"[ZN"XPSdNT["S\[RULN+"#L"[ZN"YSRRSaUL^K"#"aURR"RSSb"UL[S"ZSa"[ZUM"MNNVN]"[S"ZQON"cNNL"]SLN"UL"[ZN"XPSdNT[+"=UPM[K"#"QXXPSQTZ"[ZN" QOQURQcRN" aPU[[NL" ]ST\VNL[M" YPSV" [ZN" TQMNK" QL]" MNTSL]K" #" RSSb" Q[" VW" SaL"]NMTPUX[UON" YUNR]" LS[NM" YPSV" [ZN" <(HM" SPQR" UL[PS]\T[USLM" [S" MSVN" SY" [ZN"XQP[UTUXQ[USL"aSPbMZSXM+"""

!C9""

)H!&45!6?5:!>9Q6C=!9@!9!?75P;@5*!=45!D7;==5:!M6ACP5:=@!

4PUSP" [S" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK"VSPN"[ZQL"Q"WNQP"SY"XPNXQPQ[USL"ZQ]"^SLN"UL[S"[ZN"%SaL"2QRR"XPSdNT[+"(\PUL^"[ZUM"[UVNK"XSRU[UTUQLM"QL]"VQLQ^NPM"ZQ]"]UMT\MMN]"ZSa"Q"LNa"MXQ[UQR"YPQVNaSPb"TS\R]"TPNQ[N"N`[NL]N]" SXXSP[\LU[UNM" [S" [ZN" V\LUTUXQRU[W" Q]VULUM[PQ[USL" QM" Q" MNPOUTN" XPSOU]NP+"%ZN"]UMT\MMUSLM" PNM\R[N]" UL" MNONPQR" [N`[M1" UL[NPLQR"]ST\VNL[M" [ZQ[" QXXSUL["SONPQRR"QMXUPQ[USLM" QL]" PNM[PUT[USLMK" UL" SP]NP" [S" ^N[" [ZN" XPSdNT[" UL[S" XPS^PNMM+" %ZN" [ZPNN"]ST\VNL[M" cPUNYRW" XPNMNL[N]" cNRSa" PNYNP" [S" [ZN" SXNL" RQWS\[" QM" Q" XPNVUMN" UL" [ZN"XPSdNT[+"""%ZN"YUPM["]ST\VNL[" UM"]Q[N]"MZSP[RW"QY[NP" [ZN"<(HM"XPSVS[USL" [S\P"QPS\L]" [ZN"

SP^QLU_Q[USLK"UL"aZUTZ"ZN"ZQ]"]NMTPUcN]"[ZN"XPSdNT[HM"XPSMXNT[M"[S"[ZN"M[QYY"Q["RQP^NK"UL"Q"MNPUNM"SY"]UQRS^\N"MNMMUSLM+"%ZN"]ST\VNL["PNTQXM"[ZN"S\[TSVN"SY"[ZN"MNMMUSLMK"QL]" aU[Z" PN^QP]M" [S" [ZN" SXNL" SYYUTN" RQWS\[K" U[" PNYRNT[M" [ZQ[" [ZN" PNQT[USLM" aNPN"LN^Q[UON1"""!R6.6-$7$."% 6*+'% .'"$+% "#$% $</*,1,"% +5$/",1,+7% ,.% "$07+% '@% "#$% '/$.% '@@,1$+A%

R6.6-$7$."%,+%+",**%'@%"#$%'/,.,'.%"#6"%"#$%6&;6."6-$+%6""61#$&%"'%"#$%'/$.%'@@,1$%6.&%,"+%6&F61$."%1'77'.%@61,*,",$+%I+(1#%6+%7$$",.-%0''7+9%1'."$7/*6",;$%+/61$+%6+% :$**% 6+% /#'.$N% 6.&% 1'.;$0+6",'.% +/61$+K% :$,-#+% 7'0$% #$6;,*8% "#6"% "#$%&,+6&;6."6-$+9% 6.&% +#'(*&% "#(+% +",**% )$% /(0+($&A%M$% @'1(+% '.% 1'**6)'06",'.% ,.% 6%*$60.,.-%'0-6.,B6",'.9% 6.&% 16**% @'0% 6% /#8+,16*% @067$:'05% "#6"% 16.%611'77'&6"$%"#,+%"8/$%'@%'0-6.,B6",'.A2""#L" [ZUM" h\S[Q[USLK" VQLQ^NVNL[" QTbLSaRN]^NM" [ZN" M[QYYHM" QL`UN[W" [SaQP]M" [ZN"

SXNL" RQWS\[+"2NPNK" [ZN" M[PQ[N^UT" QMXUPQ[USL" SY" cNUL^"!6% *$60.,.-%'0-6.,B6",'.2" UM"\MN]"QM"Q"VNQLM"[S"N`XRQUL"aZW"[ZN"MN[\X"UM"TSLMU]NPN]"[ZN"cNM["M[P\T[\PQR"MSR\[USL+"""%ZN" MNTSL]" ]ST\VNL[" UM" ]Q[N]" Q"VSL[Z" RQ[NP+"2NPNK" [ZN"%SaL"2QRR" XPSdNT[" Q["

RQP^N" UM"cNUL^"XPNMNL[N]"\L]NP"ZNQ]RULNM" M\TZ"QM"!c(0/'+$2K"!c0'1$++2K"!3&$62K"![1'.'782K"!G$.&$0%@'076"2"QL]"!3."$0,'0%&$+,-.%/0,.1,/*$+2+")L]NP"[ZN"ZNQ]UL^"SY"!c0'1$++2"U["UM"N`XRQULN]"[ZQ[1"""!S(0,.-% deef9% \,**$0g&% #6+% )$$.% :'05,.-% :,"#% "#$% /0'F$1"% ,.% '0&$0% "'%

&$"$07,.$% "#$% /0'1$++9% "#$% $1'.'78% 6.&% "#$% ,."$0,'0% &$+,-.A% P*"#'(-#% "#,+%:'05%

!CC""

#6+%1'7$%@609%.'%+"$/+%#6;$%)$$.%"65$.%"#6"%*'15+%"#$%/0'1$++%'0%"#$%.$:%"':.%#6**%,."'%6%/60",1(*60%+'*(",'.A2"""%ZN" M[Q[NVNL[" VU^Z[" MSVNZSa" cN" MNNL" QM" Q" TSL[PQ]UT[USL" UL" [NPVMK" aU[Z"

PNYNPNLTN"[S"[ZN"PNYRNT[USLM"UL"[ZN"YUPM["]ST\VNL[+"#["VQbNM"U["TRNQP"[ZQ["M\cM[QL[UQR"]NTUMUSLM" ZQON" cNNL" MS\^Z[" QL]" N`NT\[N]" QRSL^" [ZN" aQW" UL" [ZN" XPSTNMM+" 'L" [ZN"S[ZNP"ZQL]K"ZSaNONPK"U["QRMS"N`XRUTQ[NM"[ZQ["LSLN"SY"[ZNMN"]NONRSXVNL[M"MZS\R]"cN"MNNL"QM"TSLM[U[\NL[M"[S"Q"YU`N]"MSR\[USL1"[ZQ["!.'%+"$/+%#6;$%)$$.%"65$.%"#6"%*'15+%"#$% /0'1$++% '0% "#$% .$:% "':.% #6**% ,."'% 6% /60",1(*60% +'*(",'.2" QM" ]NMTPUcN]" UL" [ZN"h\S[Q[USL"QcSON+"#L"[ZN"MQVN"]ST\VNL["QL]"\L]NP"[ZN"ZNQ]UL^"SY"!3."$0,'0%&$+,-.%/0,.1,/*$+2K"[ZN"RQ[[NP"VNMMQ^N"UM"PNXNQ[N]K"aU[Z"]UPNT["PNYNPNLTN"[S"[ZN"SXNL"SYYUTN"RQWS\[1"""!G#$% ,."$0,'0% &$+,-.% /0,.1,/*$+% +#'(*&9% #':$;$0% )$% 0$1'.+,&$0$&9% :#$.%

E5h;,.-$% =.$,-#)'0,.-% 7(.,1,/6*,"8% 6.&% /60"% '@% "#$% 7$0-$0?% #6+% )$1'7$%,."$-06"$&%,.%"#$%/0'F$1"%'0-6.,B6",'.A%3"%+#'(*&%)$%1*$60%"#6"%"#$%/0,.1,/*$+%'@%X.$:%'@@,1$4% 6.&% '/$.% '@@,1$% +#'(*&% )$% .(6.1$&% 6.&% @(0"#$0% &$;$*'/$&9% 611'0&,.-% "'%@(.1",'.6*,"8%=>?%,.%"#$%.$:%F',."%(.,"A2"""#L" [ZUM" h\S[Q[USLK" U[" MNNVM"VSPN" \LTRNQP"aZN[ZNP" [ZN" SXNL" RQWS\["aURR" UL" YQT["

YSPV"Q"cQMUT"M[P\T[\PN"UL"[ZN"XPSdNT[+"%ZUM"cR\PPULNMM"M[URR"MNNVM"[S"ULTPNQMN"QM"[ZN"XPSdNT[" ]NONRSXN]+" #L" [ZN" [ZUP]" ]ST\VNL[K" Q" TSVVU[[NN" [S" M\XXSP[" [ZN" c\UR]UL^HM"UL[NPUSP"]NMU^L"XPSTNMM"ZQ]"cNNL"QXXSUL[N]+"%ZN"TSVVU[[NN"VNVcNPM"ULTR\]N]"[ZN"<(K" [ZN" XPSdNT[" VQLQ^NP" SY" [ZN" %SaL" 2QRR" XPSdNT[" QL]" MNONPQR" M[QYY"PNXPNMNL[Q[UONM+"%ZN"VUL\[NM"YPSV"SLN"SY"[ZN"TSVVU[[NN"VNN[UL^M"[ZQ["YST\MN]"SL"[ZN"]NONRSXVNL["SY"[ZN"UL[NPUSP"]NMU^L"M[Q[NM"[ZQ[1"""![;$08"#,.-%,+%(/%@'0%-06)+%6.&%.'%+"'.$%+#'(*&%)$%*$@"%(."(0.$&A2"""*SLMU]NPUL^"[ZN"SXNL"RQWS\["QM"Q"cQMUT"XSUL["SY"]NXQP[\PN" UL" [ZN"XPSdNT[K" [ZNMN"

]NMTPUX[USLM"VU^Z[" ZQON" RNY[" [ZN" QRNP[" XQP[UTUXQL[" TSLY\MN]+"7QM" U[K" SP" aQMLH[" U[K"XSMMUcRN"[S"ULYR\NLTN"[ZN"SXNL"SYYUTN"RQWS\[o".M"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"MNPON]"QM"Q"TNL[PQR"ONZUTRN"[S"M\XXSP["[ZN"]NMU^L"XPS^PNMMUSLK"[ZN"h\NM[USL"MNNVM"PNRNOQL[+"#L" [ZN" XPSdNT[K" XQP[UTUXQ[USL" aQM" LS[" SLRW" MNNL" QM" Q" VNQLM" [S" ULYSPV" [ZN"QPTZU[NT[\PQR" ]NMU^L" MSR\[USL+" #[" QRMS" ULOSRON]" [ZN" SP^QLU_Q[USLQR" ]NMU^LK" aU[Z"PNYNPNLTN"[S"[ZN"VNP^NP"QL]"[S"[ZN"<(HM"QVcU[USL"q['%&$;$*'/%"#$%7(.,1,/6*,"8%,.%

!C;""

"#$%:68%"#6"%:$%=>?%#6&%"0,$&%"'%&$+10,)$%,.%;60,'(+%&,+1(++,'.%/6/$0+2+"6NONPQR"]ST\VNL[M"ULTR\]N]"]N[QURM"QcS\["ZSa"[ZN"M[QYY"Q[" RQP^N"aS\R]"cN"ULOSRON]"UL"[ZN"]NMU^L"SY" [ZN" YSP[ZTSVUL^"aSPbMXQTN"QPNQ+".^QUL"aU[Z" PNYNPNLTN" [S" [ZN"LS[USL"SY"[ZN" VS]NPL" X\cRUT" SP^QLU_Q[USLK" aN" VU^Z[" MQW" [ZQ[" [ZN" <(" \MN]" [ZN" SP^QLU_N]"XQP[UTUXQ[USL"QM"QL"SXXSP[\LU[W"[S"UL[PS]\TN"[ZN"SXNL"RQWS\[K"aZUTZ"PNXPNMNL[N]"LS["SLRW"Q"LNa"MXQ[UQR"YPQVNaSPbK"c\["QRMS"Q"LNa"SP^QLU_Q[USL+"%ZN"cS\L]QPW"cN[aNNL"aZQ["TS\R]D"QL]"TS\R]LH["cN"QYYNT[N]"[ZPS\^Z"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["ZQON"cNNL"MSVNaZQ["\LTRNQPK"c\["[ZN"X\PXSMN"SY"XPNXQPUL^"[ZN"SP^QLU_Q[USL"YSP"[ZN"LNaK"aQM"VQUL[QULN]+""""

OH!&45!?97=;A;?9=;6:!9A=;B;=;5@!9@!9:!6??67=C:;=Q!=6!;:G>C5:A5*!

=45!679>!;:=76MCA=;6:@!

%\PLUL^" YPSV" [ZN" aPU[[NL" ]ST\VNL[M" [S" [ZN" <(HM" SPQR" UL[PS]\T[USLM" [S" [ZN"aSPbMZSXMK" [ZN" YST\M" UM" SL" [ZN" XQP[UTUXQ[USL" QM" QL" SXXSP[\LU[W" [S" ULYR\NLTN" [ZN"]NMU^L"MSR\[USL+"2NPNK"[ZN"SXNL"RQWS\["aQM"LS["VNL[USLN]"QM"Q"XQP[UT\RQP"UMM\N"[S"cN"LN^S[UQ[N]+"-\[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"aNPN" cPS\^Z[" YSP[Z" QM" SXXSP[\LU[UNM" [S"TSL[PUc\[N" [S" [ZN" ]NONRSXVNL[" SY" [ZN" ]NMU^L" UL" QRR" SY" [ZNMN" UL[PS]\T[USLM+" #L" ZUM"UL[PS]\T[USL"[S"[ZN"ONPW"YUPM["XQP[UTUXQ[USL"aSPbMZSXK"[ZN"<("RQ\LTZN]"[ZN"NONL["cW"[ZN"aSP]M1"""!P"%"#,+%/',."%,"%,+%,7/'0"6."%"#6"%:$%,&$.",@8%:#6"%5,.&%'@%)(,*&,.-%:$%6,7%@'09%

:#6"%:$%.$$&%,.%'(0%)(,*&,.-A%=>?%3.%"#,+%:'05+#'/%6.&%"#$%.$<"9%,"%,+%,7/'0"6."%"'%)0,.-%6**%'/,.,'.+% @'0"#A%G#$% 0$6+'.%:#8%:$%#6;$%#,0$&%6%/0'1$++%&$+,-.$0% ,+% "'%+$1(0$% "#$%1'..$1",'.%)$":$$.% "#$%/#8+,16*% @067$:'05%6.&%"#$%61",;,",$+% "#6"%60$%+(//'+$&% "'% "65$%/*61$% ,.+,&$% "#$%#'(+$A%G#,+% ,+% 6%760;$*'(+%'//'0"(.,"8% @'0%(+A%R'+"%'@%(+%#6;$%.$;$0%"0,$&%"'%,.@*($.1$%'(0%:'05+/61$%"'%+(1#%6.%$<"$."A2%""2NPNK"[ZN"XS[NL[UQR"TSLY\MUSL"YPSV"[ZN"[ZPNN"]ST\VNL[M"XPNMNL[N]"QcSONK"MNNVM"

[S"cN"bNX["\X+"=PSV"SLN"OUNaXSUL[K"aN"VU^Z["MQW" [ZQ[" [ZN"<("M[PSL^RW" UL]UTQ[NM"[ZQ[" [ZUM" UM" Q" ]NMU^L" XPSTNMMK" [S" aZUTZ" [ZN" XQP[UTUXQL[M" QPN" ULOU[N]" [S" TSL[PUc\[N+"7U[Z"XZPQMNM"RUbN"!"#6"%:$%,&$.",@8%:#6"%5,.&%'@%)(,*&,.-%:$%6,7%@'029%!"'%)0,.-%6**%'/,.,'.+%@'0"#29%!"'%,.@*($.1$%'(0%:'05+/61$2"ZN"]NMTPUcNM"[ZN"XQP[UTUXQL["XSMU[USL"QM"[ZQ["SY"Q"TSD]NMU^LNP+"$S["SLRW"]SNM"ZN"XSUL["[S"[ZN"XPSTNMM"SY"U]NL[UYWUL^"Q"MN["SY"PNh\UPNVNL[M"UL"SP]NP"[S"ULYSPV"[ZN"M\cMNh\NL["QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"2N"

!CF""

QRMS" NVXZQMU_NM" [ZQ[" [ZUM" MZS\R]" ZQXXNL" UL" Q" TSRRNT[UON" XPQT[UTNK" cW" \MUL^" [ZN"XPSLS\LM"!:$2K%!(+2" QL]%!'(02+"%ZN"M[QYYHM" PNMXSLMUcURU[W" [Z\M"QXXNQPM"QM"VSPN"QTT\PQ[N" QM" U[" UM" QP[UT\RQ[N]" QM" Q" MZQPN]" PNMXSLMUcURU[W" l7NUTb" 9EECm+" 2NPNK" [ZN"XQP[UTUXQL[M"lQXXPS`UVQ[NRW"FE"M[QYY"PNXPNMNL[Q[UONMm"PNXPNMNL["[ZN"\MNPM"SL"cNZQRYK"LS[" SLRW" SY" Q" RQP^N" ^PS\X"SY" M[QYY"VNVcNPM" lQXXPS`UVQ[NRW" FEE" Q[" [ZN" [UVNmK" c\["QRMS"SY"RSTQR"TU[U_NLM"QL]"XSRU[UTUQLM+"%ZN"<("PNXNQ[M"[ZN"YST\M"SL"TSD]NMU^LUL^"cW"NVXZQMU_UL^"[ZN"MU[\Q[USLHM"\LUh\NLNMM"l2R'+"%'@%(+%#6;$%.$;$0%"0,$&%"'%,.@*($.1$%'(0%:'05+/61$%"'%+(1#%6.%$<"$."2m+%2NPNK"[ZN"ONPW"RQM["XQP["l!"'%+(1#%6.%$<"$."2m"QRMS"UL]UTQ[NM"[ZQ["[ZN"XPSdNT["N`XQL]M"[ZN"U]NQ"SY"Q"[PQ]U[USLQR"PNRQ[USLMZUX"cN[aNNL"]NMU^LNPM"QL]"\MNPM"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"""<SOUL^"SL"[S"[ZN"MNTSL]"MNPUNM"SY"aSPbMZSXMK"[ZN"XQP[UTUXQL[MH"XSMU[USL"QM"TSD

]NMU^LNPM"UM"Q^QUL"NVXZQMU_N]+"#L"ZUM" UL[PS]\T[USL"[S"[ZUM"NONL[K" [ZN"<("PNXNQ[N]"[ZN"ULYR\NLTN"QL]"PNMXSLMUcURU[W"[ZQ["[ZN"XQP[UTUXQ[USL"UVXRUNM1"""!G#$% 0$C(,0$7$."+% 8'(% #6;$% /',."$&% '("% #6;$% #6&% +"0'.-% ,7/61"% '.% "#$%

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a"[ZN"XQP[UTUXQL[HM"TSL[PUc\[USL"YPSV"[ZN"YUPM["aSPbMZSXM"

ULYR\NLTN]" [ZN"XPSdNT[HM" ULU[UQR"]NMU^L"XPSTNMM"cW" ULYSPVUL^" [ZN"TSVXN[U[USL"cPUNY"[ZQ[" MNPON]" QM" Q" XSUL[" SY" ]NXQP[\PN" [S" [ZN" QPTZU[NT[M" UL" [ZNUP" ]NONRSXVNL[M" SY" [ZN"ULU[UQR"]NMU^L"XPSXSMQRM"lTY+"MNT[USL"F.m+"2N"^UONM"[ZN"XQP[UTUXQL[M"QL"QT[UON"PSRN"QM"cNUL^" !0$/0$+$."6",;$+2" QL]" !6&;,+'0+2+" -\[" aU[Z" PN^QP]M" [S" [ZN" XQP[UTUXQL[HM"QT[\QR" SXXSP[\LU[W" [S" ULYR\NLTN" UL" [ZN" ]NMU^L" XPSTNMMK" [ZN" TSLY\MUSL" YPSV" [ZN"aPU[[NL" ]ST\VNL[M" MNNVM" [S" TSL[UL\N1" #L" [ZN" MNTSL]" XQP[" SY" [ZN" h\S[Q[USLK" ZN"P\X[\PNM" [ZN" UVQ^N" cW" M[Q[UL^" [ZQ[" [ZNW" aSLH[" !)$% #$*&% 0$+/'.+,)*$2" QL]" [ZQ["!R6.6-$7$."2"aURR"Y\P[ZNP"]NONRSX"[ZNUP"U]NQM+"""

!CB""

TH!05A;@;6:!P9L;:8*!R5=D55:!6?5:!>9Q6C=!9:M!?97=;A;?9=;6:!!

7ZQ[" UM"Q[" M[QbN" UL" [ZUM" MN[\Xo"%ZN"TSL[PQ]UT[USL"XSUL[N]"S\[" UL" [ZN"XQPQ^PQXZ"QcSON"VU^Z["PNXPNMNL["Q"TNL[PQR"T\N"[S"[ZUM"TSVXRN`+"2NPNK"PNMXSLMUcURU[W"MNNVM"[S"cN"^UONL"QL]"aU[Z]PQaL"cW"[ZN"MQVN"VNQLM"QL]"SL"[ZN"MQVN"STTQMUSL+"%ZN"SXNL"RQWS\["MNNVN]"[S"ZQON"N`UM[N]"QM"QL"U]NQ"[ZQ["aQM"VNQL["[S"M\XXSP["TNP[QUL"M[PQ[N^UT"QMXUPQ[USLMK" ]NTU]N]" XPUSP" [S" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" .[" [ZN" MQVN" [UVNK" [ZN"ULOU[Q[USL" [S" [ZN" M[QYY" [S" XQP[UTUXQ[N" UL" [ZN" ]NMU^L" XPSTNMM" QRMS" PNXPNMNL[N]" QL"SXXSP[\LU[W"[S"ULYR\NLTN"[ZN"]NONRSXVNL["SY"[ZN"]NMU^L"QL]"[S"cNTSVN"!6&;,+'0+2+"""'LN"SY"[ZN"h\S[Q[USLM"QcSON"cW"QL"NL]"\MNP"PNXPNMNL[Q[UONK"aZS"XQP[UTUXQ[N]"UL"

VSM[" QT[UOU[UNM" [ZPS\^ZS\[" [ZN" XPSdNT[K" UL]UTQ[NM" [ZQ[" QR[ZS\^Z" [ZN" S\[RULN" YSP" [ZN"SXNL" RQWS\[" VU^Z[" ZQON" MNNVN]" cR\PPN]" UL" aPU[[NL" ]ST\VNL[M" QL]" SPQR"UL[PS]\T[USLMK" [ZN" XQP[UTUXQL[M" bLNa" [ZQ[" [ZN" ]NTUMUSL" QcS\[" [ZN" M[P\T[\PN" aQM"]NYULU[N1"%ZNW"!1'(*&%5,15%6.&%+10$67%O%76.6-$7$."%#6&%6*0$6&8%&$1,&$&%"#6"%:$%:'(*&%#6;$%"#$+$%'/$.%'@@,1$+2+"2SaNONPK"[ZN"YQT["[ZQ["[ZN"M[QYY"bNX["PNOUMU[UL^"[ZN"UMM\N"UL"NQTZ"QL]"NONPW"aSPbMZSX"VU^Z["UL]UTQ[N"[ZQ["[ZNW"M[URR"MQa"QL"SXXSP[\LU[W"[S" ULYR\NLTN" [ZN"^NLNPQR"]NMU^L"MSR\[USL+"'L"[ZN"SLN"ZQL]K" [ZNW"TRQUVN]" [ZN"SXNL"RQWS\[" QM" Q" YULQR" ]NTUMUSLK"aZURN" [ZNWK" SL" [ZN" S[ZNPK" bNX[" ]UMT\MMUL^" U[" QM" UY" M\TZ"]UMT\MMUSLM"aS\R]"VQbN" Q" ]UYYNPNLTN" [S" [ZN" ]NMU^L" MSR\[USL+" %ZN" MN[\X" UL]UTQ[NM"[ZQ["[ZN"PNRQ[USLMZUX"MZS\R]"LS["cN"TSLMU]NPN]"Q"MNPNLN"QMMSTUQ[USLK"c\["PQ[ZNP"QM"QL"QT[UON"[NLMUSL"cN[aNNL"[aS"M[QLTNM+"""#Y"aN"PN[\PL"[S"[ZN"U]NQ"SY"\MUL^"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QM"QL"SXXSP[\LU[W"[S"

M\XXSP[" [ZN"]NONRSXVNL["SY"Q"VS]NPL"SP^QLU_Q[USLK"aN"VU^Z["MQW" [ZQ[" [ZNPN" UM"QL"ULc\UR["[NLMUSL"cN[aNNL"MSVN"SY"[ZN"TNL[PQR"YQT[SPM"ULOSRON]"UL"[ZUM"MN[\X+"2NPNK"[ZN"UL]UPNT["ULOSRONVNL["UL"TSVXRN`"]NTUMUSL"VQbUL^"QcS\["TNL[PQR"UMM\NM"lYSP"N`QVXRN"[ZPS\^Z"aSPbMZSX"]UMT\MMUSLMmK"XS[NL[UQRRW"dNSXQP]U_N]"S[ZNP"cQMUT"TSL]U[USLM"lYSP"N`QVXRN"[ZN"M[P\T[\PQR"XPULTUXRN"SY"[ZN"SXNL"SYYUTN"RQWS\[mK"\XSL"aZUTZ"[ZN"XPSdNT["aQM"cQMN]+"#L"SP]NP"[S"\L]NPM[QL]"VSPN"QcS\["ZSa"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"TQL"TSL[PUc\[N"[S"[ZNMN"TSVXRN`"]NMU^L"XPSTNMMNMK"U["MNNVM"[ZQ["[ZUM"[NLMUSL"LNN]M"Y\P[ZNP" N`XRSPQ[USL+" %ZN" XSUL[" aQM" cPUNYRW" UL]UTQ[N]" UL" MNT[USL" 9." [ZPS\^Z" [ZN"TSLTNX[\QR"U]NQ"SY"nVQLQ^UL^"QM"]NMU^LUL^H+"%ZUM"TSLTNX["XPNMNL[M"QL"QXXPSQTZ"[S"]NTUMUSL" VQbUL^" QM" Q" XPSTNMM" [ZQ[" [QbNM" XRQTN" UL" Q" TSLT\PPNL[" QL]" TSL[UL\S\M"XPSTNMM" lq[ZN" ]NMU^L" Q[[U[\]NrmK" QL]"aZNPN" [ZN" YST\M" UM" LS[" SL" TZSSMUL^" [ZN" cNM["MSR\[USLK"c\["PQ[ZNP"SL"XPS]\TUL^"MSR\[USLM"[ZQ["VQW"aSPb+"2SaNONPK"[ZN"YST\M"SL"

!C?""

TSL[UL\U[W"]SNM"LS["VNQL"[ZQ["]NTUMUSLM"QPNLH["VQ]N+"2Sa"TQL"[ZN"<("cQRQLTN"[ZUM"TSVXRN`"[NLMUSL"cN[aNNL"[aS"PNXPNMNL[Q[UONM"YSP"[ZN"VS]NPL"SP^QLU_Q[USLo"#L"ZUM"PNMXSLMN"[S"ZSa"[ZUM"cQRQLTN"SY"]NTUMUSL"VQbUL^"VU^Z["cN"ZQL]RN]K"ZN"PNVQPbM"UL"QL"UL[NPOUNa1""!=G?#$0$%#6+%)$$.%;'",.-+%@'0%6.&%6-6,.+"%"#$%1#'+$.%1'.1$/"+A%G'%"#,+%3%#6;$%

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

]H!+789:;<9=;6:9>!M5@;8:!=476C84!R549B;679>!A6PP;=P5:=!!

.M" UL]UTQ[N]" QcSONK" [ZN" M\cM[QL[UQR" QVS\L[" SY" SP^QLU_N]" XQP[UTUXQ[USL" UL" [ZN"XPSdNT[" VU^Z[" PNXPNMNL[" QL" SXXSP[\LU[W" YSP" [ZN"<(" [S" NM[QcRUMZ" QL" SP^QLU_Q[USLK"XPNXQPN]" [S" VNN[" LNa" M[PQ[N^UT" QVcU[USLM" QL]" [Z\M" YU[[N]" [S" ULZQcU[" QL" SXNL"M[P\T[\PN+" 2Sa" TS\R]" [ZN" <(" M\XXSP[" [ZNMN" QMXUPQ[USLMK" aU[Z" PNYNPNLTN" [S" ZSa"XPSTNMMNM"SY"SP^QLU_Q[USLQR"MNLMNVQbUL^"[QbN"XRQTNo""q'LN"aQW"[S"YST\M"UL[NPXPN[Q[USL"UM"[ZPS\^Z"[ZN"\MN"SY"cNZQOUSPQR"TSVVU[VNL[r"

l7NUTb"9EE!1"?;m+"%ZN"U]NQ"SY"cNZQOUSPQR"TSVVU[VNL["ULOSRONM"ZSa"VQLQ^NPM"TQL"NLZQLTN"TSVVU[VNL["QVSL^"[ZN"M[QYYK"QM"Q"VNQLM"[S"UVXRNVNL["TNP[QUL"]NTUMUSLM+"7NUTb" N`XRQULM" [ZUM" cW" PNTQRRUL^" cQMUT" TZQPQT[NPUM[UTM" SY" [ZN" VQLQ^NVNL["QMMU^LVNL[K"]UMT\MMN]"cW"6VUPTUTZ"QL]"<SP^QLK"aZS"QP^\N"[ZQ["qRNQ]NPMZUX"RUNM"UL"Q" RQP^N" XQP[" UL" ^NLNPQ[UL^" Q" XSUL[" SY" PNYNPNLTNK" Q^QULM[" aZUTZ" Q" YNNRUL^" SY"SP^QLU_Q[USL"QL]"]UPNT[USL"TQL"NVNP^Nr"l6VUPTUTZ"QL]"<SP^QL"!A,91"9F,"UL"7NUTb"9EE!1"?Fm+"2NPNK" [ZN"LS[USL"SY"qQ"XSUL["SY" PNYNPNLTNr"VU^Z["cN"XNPTNUON]"QM"aZQ["aN"UL"6TQL]ULQOUQ"aS\R]"TQRR"n[ZN"PN]"[ZPNQ]H1"[ZN"XSUL["SP"U]NQ"[ZQ["P\LM"[ZPS\^Z"Q"M[SPW"SP"STTQMUSL"RUbN"Q"MXULN"[ZQ["VQbNM"U["TSZNPNL[+"7NUTbHM"VNMMQ^N"UM"[ZQ["UY"[ZUM"XSUL[" SY" PNYNPNLTN" TQL" cN" XPS]\TN]" [ZPS\^Z" [ZN" NM[QcRUMZVNL[" SY" TSVVU[VNL[" k"[ZNL"PN]NMU^LMK"TZQL^NM"QL]"Y\P[ZNP"]NONRSXVNL[M"TQL"NOSRON+"-W"^UOUL^"[ZN"M[QYY"[ZN" SXXSP[\LU[W" [S" ]UMT\MM" TNP[QUL" UMM\NM" Q[" M[QbN" UL" PN^QP]M" [S" [ZN" TZQL^NMK" [ZN"

!C,""

TZQLTN"[ZQ["[ZNW"aS\R]"M\cMNh\NL[RW"N`XRSPN"SP"M\XXSP["[ZNMNK"VU^Z["QRMS"cN"RUbNRW"[S"ULTPNQMN"lUcU]m+"""-NZQOUSPQR"TSVVU[VNL[" ULOSRONM" [ZN"TPNQ[USL"SY"TNP[QUL"cNRUNYM"QVSL^"XNSXRN"

UL" QL" SP^QLU_Q[USLK" aZUTZ" ZNRX" [ZNV" TSVXPNZNL]" [ZN" QT[USLMK" UL" aZUTZ" [ZNW" QPN"ULOSRON]+"6QRQLTUb"TZQPQT[NPU_N"[ZUM"QM"cUL]UL^"XNSXRN"[S"[ZNUP"QT[USLM"QL]"[ZNPNcW"[S" Q" MN[" SY" cNRUNYM" [ZQ["VQbN" [ZNV"TSL[PUc\[N" [S" [ZN"VQUL[NLQLTN" SY" M\TZ" QT[USLM"l6QRQLTUb" !A??m+" 7ZNL" M[QYY" VNVcNPM" QPN" ULOU[N]" [S" XQP[QbN" UL" aSPbMZSXM" QL]"S[ZNP"XQP[UTUXQ[USL"QT[UOU[UNM"UL"[ZN"%SaL"2QRR"XPSdNT[K"[ZN"ULOSRONVNL["UM"RUbNRW"[S"TSLLNT[" [ZNV" TRSMNP" [S" [ZN" ]NONRSXVNL[M" [ZQ[" NVNP^N" UL" [ZN" XPSdNT[" QM" Q" ]NMU^L"XPSTNMM+"q-UL]UL^"STT\PM"aZNL"[ZN"cNZQOUSP"UM"N`XRUTU["l[ZNPN"UM"TRNQP"NOU]NLTN"[ZQ["[ZN"QT["STT\PPN]mK"X\cRUT"lUVXSP[QL["XNSXRN"MQa"[ZN"QT["STT\PmK"QL]"UPPNOSTQcRN"l[ZN"QT["TQLLS["cN"\L]SLNm+"%ZNMN"[ZPNN"YQT[SPM"TSVcULN"[S"TSLM[P\T["[ZN"PNQRU[W"[ZQ["[ZN"QT[USL" ]U]" STT\P+r" l7NUTb" !AAF1" !F?m+"7N" VU^Z[" MQW" [ZQ[" [ZN" XQP[UTUXQ[USL" aQM"N`XRUTU[" UL" [ZN" MNLMN" [ZQ[" [ZN" M[QYY" LS[" SLRW" QTTNX[N]" [ZN" ULU[UQR" ULOU[Q[USL" [S"XQP[UTUXQ[NK"[ZNW"QRMS"TSL[UL\N]"[S"NL^Q^N"UL"[ZN"QT[UOU[UNM"QM"[ZN"XPSdNT["XPSTNN]N]+"#[" aQM" QRMS" QXXQPNL[" [ZQ[" [ZNUP" QXXPSQTZ" [SaQP]M" [ZN" SXNL" SYYUTN" RQWS\[" aQM"LN^Q[UON+"%ZN"QT[UOU[UNM"aNPN"X\cRUTK"UL"[ZN"MNLMN"[ZQ["[ZNW"aNPN"^NLNPQRRW"]NcQ[N]"UL"[ZN"Q]VULUM[PQ[USL"UL"[ZN"XNPUS]"SY"[UVN"aZNL"[ZNW"[SSb"XRQTNK"QL]"[ZQ["MNONPQR"SY"[ZN" QT[UOU[UNM" ULTR\]N]" [ZN" M[QYY" Q[" RQP^N+"2NPNK"7NUTb"QRMS"XSUL[M" [S"OSRU[USL" QM" Q"aQW"[S"NLZQLTN"[ZN"NM[QcRUMZVNL["SY"TSVVU[VNL[+".R[ZS\^Z"[ZN"M[QYY"UL"[ZN"%SaL"2QRR" XPSdNT[" VQW" ZQON" YS\L]" U[" ZQP]" [S" PNdNT[" [ZN" ULOU[Q[USL" [S" XQP[UTUXQ[N" UL" Q"XPSdNT["[ZQ["aQM"^UONL"M\TZ"V\TZ"YST\M"cW"VQLQ^NVNL[K"[ZN"aSPbMZSXM"aNPN"M[URR"OSR\L[QPW+"".M"aN"ZQON" MNNL"QcSONK" [ZN"<("VU^Z[" QRMS"ZQON"Q[[NVX[N]" [S" NM[QcRUMZ" M\TZ"

MNLMN" SY" cUL]UL^" QL]" TSVVU[VNL[" [ZPS\^Z" ZUM" cQRQLTN" QT[" SY" ^UOUL^" QL]" [QbUL^"PNMXSLMUcURU[W" UL" ZUM" UL[PS]\T[USL" [S" [ZN" XQP[UTUXQ[USL" aSPbMZSXM" l!W'(% 768% +$$%8'(0+$*;$+% 6+% 0$/0$+$."6",;$+% @'0% 1$0"6,.% 7(.,1,/6*% +$0;,1$% 60$6+9% $.;,0'.7$."+9%$"1A% 3"% ,+% 6% ),-% 0$+/'.+,),*,"8% "'% 0$/0$+$."% +'7$'.$% $*+$9% 6.&% 8'(% .$$&% "'% )$% ,.%1'00$+/'.&$.1$% :,"#% 8'(0% )615,.-% -0'(/% ,.% "#,+% :'052K+% -\[" QM" aN" ZQON" MNNL"QcSONK" ZN" QRMS" PNXSMMNMMNM" [ZN" PNMXSLMUcURU[W" RQ[NP" UL" [ZN" MQVN" h\S[Q[USLK" cW"NVXZQMU_UL^" [ZQ[" [ZN" XQP[UTUXQL[M" !:,**% .'"% )$% "65$.% #'+"6-$Q% 8'(% 16.% )0,.-% ,.%,&$6+%6.&%'/,.,'.+%6.&%.$$&+9%)("% 8'(%:'.4"% +()+$C($."*8%)$% #$*&% 0$+/'.+,)*$2+"".M" Q" TSLTNX[K" PNMXSLMUcURU[W" XRQWM" Q" MU^LUYUTQL[" XQP[" UL" [ZN" NM[QcRUMZVNL[" SY"TSVVU[VNL[K" QL]" U[" ULOSRONM" TSLMNh\NLTNM+" #LTPNQMN]" bLSaRN]^N" QcS\[" TNP[QUL"

!CA""

UMM\NM" UL]UPNT[RW" ULTR\]NM" QL" N`[NL]N]"\L]NPM[QL]UL^"SY" [ZN" UVXRUTQ[USLM" [ZQ[" [ZUM"VU^Z[" RNQ]" [S" l6[Qa" !A,9m+" #L" [ZN" %SaL" 2QRR" XPSdNT[K" [ZN" <(" ZU^ZRU^Z[M"PNMXSLMUcURU[W" MNONPQR" [UVNMK" QL]" cW" ]SUL^" MS" ZN" Q[[NVX[M" [S" TPNQ[N" TSVVU[VNL["QVSL^"[ZN"XQP[UTUXQL[M"k"[S"aZQ[NONP"PNM\R["[ZN"]NMU^L"VQW"cPUL^+"#L"[ZUM"aQWK"ZUM"QXXPSQTZ"VU^Z["cN"MQU]" [S"ZQON"cNNL"qOUMUcRNK"OSRU[USLQR"QL]"UPPNOSTQcRNr"l7NUTb"!AAF1"!FAm+"""'P^QLU_Q[USLM" TZSSMN"aZS" [ZNW"aQL[" [S" cN" [ZPS\^Z" TZSSMUL^" Q" MN[" SY" TNL[PQR"

QT[USLMK"aZUTZ"[ZNW"PNRQ[N"[S"QL]"TSLMSRU]Q[N"[ZPS\^Z"TNP[QUL"N`XRQLQ[USLM"l7NUTb"!AAFm+"#L"[ZN"%SaL"2QRR"XPSdNT[K"[ZN"]NYULU[USL"SY"[ZN"SP^QLU_Q[USL"QM"!6%*$60.,.-%'0-6.,B6",'.2% UM"VQ]N" XPUSP" [S" [ZN"VQLW" NONL[M" [ZQ[" TSLM[U[\[N]" [ZN" XPSdNT[" QM" Q"]NMU^L"XPSTNMM+"-\["[ZN"TZQPQT[NPUM[UT"SY"cNUL^"!6%*$60.,.-%'0-6.,B6",'.2%UM"QRMS"QL"QcM[PQT["]NMTPUX[USL"SY"Q"RQP^NP"M[PQ[N^UT"QMXUPQ[USL+"2NPNK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"UL" [ZUM" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" cNTSVN" QL" SXXSP[\LU[W" [S" N`XRQUL" QL]"TSLMSRU]Q[N"[ZNMN"M[PQ[N^UT"QMXUPQ[USLM+"%ZN"SXNL"SYYUTN"RQWS\["VU^Z["[Z\M"cN"MQU]"[S"PNXPNMNL[" Q" aQW" [S" UVXRNVNL[" [ZN" M[PQ[N^UT" QMXUPQ[USL" SY" cNUL^" !6% *$60.,.-%'0-6.,B6",'.2+"#Y"aN"TSLMU]NP"[ZN"SXNL"RQWS\["QM"QL"qULZNPU[N]"N`XRQLQ[USLr"l7NUTb"!AAF1" !BEm" [S" N`XRUTQ[N" [ZN" QVcU[USL" SY" cNUL^" !6% *$60.,.-% '0-6.,B6",'.2K" [ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"VU^Z["cN"MNNL"QM"Q"ONZUTRNK"[ZPS\^Z"aZUTZ"M\TZ"QL"N`XRQLQ[USL"TQL"cNTSVN"MNLMUcRN+"%ZPS\^Z"XQP[UTUXQ[USLK"[ZN"ULZNPU[N]"N`XRQLQ[USL"[Z\M"^N[M"[S"M\U["[ZN"T\PPNL["NONL[M+"""7NUTb" XPSXSMNM" [ZQ[" qcNRUNYM" VQbN" MNLMN" SY" [ZN" UPPNOSTQcRN" QT[USL" QL]" [ZN"

TUPT\VM[QLTNM"aU[ZUL"aZUTZ"U["aQM"^NLNPQ[N]K"NONL"UY"QRR"SY"[ZUM"aQM"SLRW"OQ^\NRW"TRNQP"aZNL"[ZN"QT[USL"U[MNRY"cNTQVN"UPPNOSTQcRNr"l7NUTb"!AAF1"!FBm+"7N"VU^Z["MQW"[ZQ[" [ZN" SXNL" SYYUTN" RQWS\[" cNTQVN" QL" UPPNOSTQcRN" TUPT\VM[QLTNK" QL]" [ZQ[" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TSL[PUc\[N]" [S" YSPV"[ZN"cNRUNY" [ZQ["TS\R]"VQbN"MNLMN"SY" U[+".R[ZS\^Z" U[" aQM" MSVNaZQ[" UL]UM[ULT[RW" S\[RULN]" QM" QL" QT[\QR" XPNVUMN" UL" aPU[[NL"[N`[MK"SPQR"UL[PS]\T[USLM"QL]"QRMS"UL"[ZN"TSVXN[U[USL"cPUNYK"[ZN"SXNL"RQWS\["cNTQVN"QL"SP^QLU_UL^"XPULTUXRNK"\XSL"aZUTZ"VQLW"S[ZNP"QMXNT[M"SY"[ZN"XPSdNT["aNPN"cNUL^"cQMN]+" =SP" cN[[NP" SP" aSPMNK" U[" cNTQVN" Q" TQ[QRW_NP" UL" [ZN" XPSdNT[+" #[" bNX[" \X" [ZN"c\]^N[1"[ZN"SXNL"RQWS\["]SNM"LS["SLRW"XPSOU]N"QL"SXXSP[\LU[W"[S"XPUSPU[U_N"]UONPMU[W"UL"[ZN"MXQ[UQR"YQTURU[UNM"UL"Q"c\UR]UL^+"#["UM"QRMS"Q"XS[NL[UQR"aQW"SY"MQOUL^"VSLNWK"cW"\[URU_UL^"[ZN"MXQ[UQR"PNMS\PTNM"UL"Q"VSPN"N`ZQ\M[UON"aQW+"#L"Q]]U[USLK"[ZN"XPSMXNT[M"SY"[ZN"SXNL"RQWS\["VU^Z["cN"MQU]"[S"ZQON"bNX["\X"[ZN"M[QYYHM"[ZSPS\^Z^SUL^"TSLTNPL"UL"[ZN"XPSdNT[+"%ZN"UL[NPNM["UL"XQP[UTUXQ[UL^"QTPSMM"[ZN"SP^QLU_Q[USL"MNNVN]"[S"ZQON"

!;E""

M\M[QULN]"[ZPS\^ZS\["[ZN"XPSdNT[+".R[ZS\^Z"[ZN"UMM\N"SY"[ZN"SXNL"SYYUTN"RQWS\["aQM"XNPTNUON]" QM" ^NLNPQRRW" \LXSX\RQPK" U[" TSLT\PPNL[RW" MNNVN]" [S" VQUL[QUL" [ZN"XQP[UTUXQL[HM"Q[[NL[USL+"#L"[ZUM"aQWK"[ZN"PNMUM[QLTN"QL]"M[P\^^RN"VU^Z["QRMS"cN"MNNL"QM"TSLM[P\T[UON"l7NUTb"!AAFm+"""

4$*.+3+9+#0&$2%&*''("*!2&$"&$2%&"'%#&3*6"-$1&)"-(&4$%'4&")&'*($+!+'*$+"#&&

.M"VNL[USLN]"UL"[ZN"UL[PS]\T[USL"[S"[ZUM"MNT[USLK"[ZN"TSL[UL\S\M"]UMT\MMUSLM"SY"[ZN" SXNL" RQWS\[" QL]" U[M" XS[NL[UQRRW" LN^Q[UON" TSLMNh\NLTNM" ]U]" LS[" VS]UYWK" aU[Z"PN^QP]M" [S" U[" U[M" cQMUT" h\QRU[W" SY" cNUL^" SXNL+"2SaNONPK" [ZN" RQWS\[" ]U]"VS]UYW" UL"OQPUS\M" aQWMK" QM" VSM[" ]NMU^LM" ]SK" UL" [ZN" TS\PMN" SY" TSVXRN`" c\UR]UL^" XPSdNT[M+"%ZNMN"VS]UYUTQ[USLM"ZQXXNLN]K"LS["SLRW"]\N"[S"YULQLTUQR"QL]"[NTZLUTQR"TZQRRNL^NM"[ZQ["STT\PPN]"UL"[ZN"XPSdNT[K"c\["QRMS"]\N"[S"TSL[UL\S\MRW"XPS]\TN]"ULX\["YPSV"[ZN"NL]"\MNP"PNXPNMNL[Q[UONMK"cQMN]"SL"[ZNUP"XNPTNX[USL"SY"[ZNUP"Y\[\PN"aSPb"XPQT[UTN+"""#L"[ZN"YSRRSaUL^K"#"aURR"RSSb"UL[S"ZSa"[ZN"NL]"\MNPMH"XNPTNX[USL"MNNVN]"[S"QR[NP"

UL"[ZN"TS\PMN"SY"[ZNMN"SL^SUL^"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"LN^S[UQ[USLM+"2NPNK"#"YUPM["QUV"[S" URR\M[PQ[N"ZSa"[ZN"^NLNPQR"QXXPSQTZ" [S" [ZN"SXNL" RQWS\["MNNVN]"[S"M[QcURU_N"lQL]"[Z\M"MSVNZSa"\L]NP^S"Q"TNP[QUL"TZQL^Nm"QVSL^"[ZN"XQP[UTUXQL[M+"#"S\[RULN"[ZN"M[SPW" UL" YS\P" M[NXM" [ZQ[" NQTZ" PNXPNMNL[M" Q" TNL[PQR" XQP[UTUXQ[USL" QT[UOU[W+"-QMN]" SL"[ZUM" S\[RULNK" #" QUV" [S" ]UMT\MM" [ZN" TZQL^NM" [ZQ[" MNNVN]" [S" ZQON" [QbNL" XRQTN" UL" QL"SP^QLU_Q[USLQR"XNPMXNT[UON+""

)H!&45!G;7@=!@57;5@!6G!D67L@46?@!

#L"[ZN"ULU[UQR"MNPUNM"SY"aSPbMZSXMK"[ZN"TPU[UTQR"QXXPSQTZ"[SaQP]M"[ZN"SXNL"SYYUTN"RQWS\["TQVN"YSP[Z"UL"[ZN"]UMT\MMUSLM"cN[aNNL"[ZN"XQP[UTUXQL[M+"<W"YUNR]"LS[NM"YPSV"[ZNMN"aSPbMZSXM"aU[Z"h\S[Q[USLM"YPSV"[ZN"XQP[UTUXQL[MK"MZSa"M\cM[QL[UQR"PNMUM[QLTN"[S"[ZN"TSLTNX[+"%ZN"YSRRSaUL^"QPN"N`QVXRN"SY"M[Q[NVNL[M"YPSV"[ZN"XQP[UTUXQL[M1"""!D'.@,&$.",6*,"8%,.%:'05%/0'1$++$+%6.&%0$+/'.+,),*,",$+%N%16.%"#6"%+(0;,;$%,.%"#$%

"8/$%'@%*68'("%/',."$&%'("%#$0$J29%!M#6"%,+%'(0%61"(6*%0,-#"%"'%/0,;618J29%!M$%F(+"%

!;!""

:6."%"'%#'*&%'.%"'%'(0%,.&,;,&(6*%'@@,1$+29%!M#8%&'%:$%1#''+$%"#,+%*68'("b%)$16(+$%,"%,+%1#$6/$09%)$16(+$%,"%:'05+%)$""$09%'0%)$16(+$%:$%16.4"%+$$%'"#$0%'/",'.+J2""".M" S\[RULN]" UL" [ZN" XPNOUS\M" MNT[USL" SY" [ZUM" TZQX[NPK" [ZUM" XQP[UT\RQP" MNPUNM" SY"

aSPbMZSXM" MNNVN]" [S" MNPON" QM" Q" bUL]" SY" XPNXQPQ[USL1" .L" UL[PS]\T[SPW" ]UQRS^\N"QcS\[" [ZN" M[QYYHM" ^NLNPQR" N`XNT[Q[USLM" aU[Z" PN^QP]M" [S" [ZN" TSL]U[USLM" SY" [ZNUP"aSPbMXQTN" UL" [ZN" LNa" [SaL" ZQRR+" .RMSK" [ZN" ]UQRS^\N" XPSOU]N]" QL" SXXSP[\LU[W" [S"TSL[PUc\[N"[S"Q"]NcQ[N"[ZQ["QRPNQ]W"ZQ]"VQLW"M[QbNZSR]NPMK"LS["SLRW"QVSL^"[ZN"M[QYY"UL"[ZUM"SP^QLU_Q[USLK"c\["UL"MSTUN[W"Q["RQP^N+"%ZN"SXNL"SYYUTN"RQWS\["aQM"lQL]"M[URR"UMm"\L]NP" M\cM[QL[UQR" Q[[NL[USL" UL" [ZN" (QLUMZ" X\cRUT" ]NcQ[NK" aZUTZ" VU^Z[" ZQON"M\XXSP[N]"[ZN"M[QYY"UL"X\[[UL^"[ZN"M\cdNT["SL"[ZN"Q^NL]Q"UL"[ZN"%SaL"2QRR"XPSdNT[+"""-\["QM"aN"TQL"MNN"YPSV"[ZN"M[Q[NVNL[M"QcSONK"[ZNW"MZSa"RU[[RN"PNYRNT[USL"QcS\["

[ZN"RQWS\[HM"UVXRUTQ[USLMK"aU[Z"PN^QP]M"[S"[ZN"QT[\QR"aSPb"XPQT[UTN+"-NRSa"aN"MZQRR"MNN"ZSa"VSPN" PNYRNT[UON"TQXQTU[W" MNNVN]" [S"VNP^N"QVSL^" [ZN"XQP[UTUXQL[M" UL" [ZN"XPSdNT[+""""

OH!&45!@5A6:M!@57;5@!6G!D67L@46?@!

%ZN" MNTSL]" MNPUNM" SY" aSPbMZSXM" YST\MN]" SL" [ZN" %SaL" 2QRRHM" YSP[ZTSVUL^"UL[NPUSP" M[P\T[\PN1" SL" [ZN" RQWS\[" aU[Z" PN^QP]M" [S" ]NXQP[VNL[QR" RSTQ[USLK" [ZN"XPS`UVU[W" cN[aNNL" TSRRNQ^\NM" QL]" QRMS" [ZQ[" cN[aNNL" M[QYY" QL]" TRUNL[M+" %ZNMN"aSPbMZSXM"aNPN"PQ[ZNP"TSLTPN[N"UL"[NPVM"SY"TSL[NL[1"[S"XPS]\TN"MTNLQPUSM"YSP"ZSa"[ZN" ]NXQP[VNL[M" MZS\R]" cN" MXQ[UQRRW" SP^QLU_N]+"7ZQ[" ]U]" [ZN" XQP[UTUXQL[M" MQW" SL"[ZUM"STTQMUSLK"aU[Z"PN^QP]M"[S"[ZN"SXNL"SYYUTN"RQWS\[o".TTSP]UL^"[S"VW"YUNR]"LS[NM"aU[Z"h\S[Q[USLM"YPSV"[ZN"XQP[UTUXQL[MH"]UMT\MMUSLM"UL"[ZN"aSPbMZSXMK"U["TSVNM"YSP[Z"[ZQ[1"""!3%:'008%6)'("%"#$%/6++6-$:68%"06@@,1%O%"#6"%"'%-$"%"#0'(-#%"'%"#$%6//$.&6-$+%

'@% "#$%)(,*&,.-%8'(%#6;$%"'%/6++% "#0'(-#%1$0"6,.%#6**:68%B'.$+%6.&%"#6"% "#,+%:,**%16(+$% &,+"(0)6.1$A29% ![;$.% "#'(-#%:$% #6;$% ,.&,;,&(6*% '@@,1$+% "'&689% :$% 6*:68+%5$$/% "#$% &''0+% '/$.% ,.% '0&$0% "'% +$1(0$% 1'..$1",'.+% 6.&% 5.':*$&-$% +#60,.-A29%%2G#$0$%:,**%6*:68+%)$%YeNYZi%:#'%&'.4"%:6."% "'%$.-6-$%,.%,"A%G#$8%&'.4"% *,5$%,"%6.&% "#$8% :,**% /0')6)*8% .$;$0% :,**A% E'% "#$8% +#'(*&% /0')6)*8% 6*+'% "#,.5% 6)'("%:#$"#$0%,"%,+%"#$%0,-#"%/*61$%@'0%"#$7%"'%)$A2%""

!;9""

.RMSK" VW" SaL" ]NMTPUX[UON" PNVQPbM" UL" [ZN" YUNR]" LS[NM" QRMS" URR\M[PQ[N" [ZN"XQP[UTUXQL[MH"PNYRNT[USLM"SL"[ZN"[ZNVN1"""!G#$8% "6*5% 6)'("% $</$0,$.1$+% :,"#% X.$:% '@@,1$4% 6.&% 6)'("% #':% "#$% X0(*$+% '@%

1'.&(1"4% 7,-#"% #$*/% "#$7% "'% 6&F(+"% )$#6;,'0% 6.&% .6;,-6"$% "#0'(-#% "#$%$.;,0'.7$."A2""%ZNMN"N`TNPX[USLM"YPSV"[ZN"YUNR]"LS[NM"MZSa"[ZQ[" [ZN"QL`UN[W"XNPMUM[MK"c\["QRMS"

[ZQ[" [ZN" RNONR" SY" PNYRNT[USL" MNNVM" [S" ULTPNQMN" QRSL^" [ZN"aQW" UL" [ZNMN" N`TZQL^NM+"7ZURN" [ZN" h\S[Q[USLM" YPSV" [ZN" YUPM[" MNPUNM" SY" aSPbMZSX" XPN]SVULQL[RW" ULOSRON]"M[Q[NVNL[MK" [ZNMN" PQ[ZNP" MNNV" [S" PNONQR" Q" ZU^ZNP" RNONR" SY" PNYRNT[USL+" 2NPNK" [ZN"XQP[UTUXQL[M" YSP" N`QVXRN" QMb" ZSa" TSPPNMXSL]NLTN" aU[Z" [ZN" PNVS[N" XQP[M" SY" [ZN"c\UR]UL^"VU^Z[" cN"\XZNR]"k"aU[ZS\[" TQ\MUL^" UL[NPP\X[USL" YSP" TNP[QUL" M[QYY" ^PS\XMK"QL]"aZN[ZNP"QL"SXNL"]SSP"VU^Z[" M\XXSP["bLSaRN]^N"MZQPUL^"cN[aNNL"TSRRNQ^\NM+"'LN" SY" [ZN" h\S[Q[USLM" NONL" Q]]M" Q" ]UYYNPNL[" QMXNT[" [S" [ZN" ]UMT\MMUSL+" 2NPNK" [ZN"XQP[UTUXQL[M"]UMT\MM"aZN[ZNP"[ZN"UVXRUTQ[USLM"ULOSRON]"UL"[ZN"LNa"[SaL"ZQRR"VU^Z["XS[NL[UQRRW"N`TR\]N"TNP[QUL"M[QYY"VNVcNPM"YPSV"cNUL^"XQP["SY"[ZN"SP^QLU_Q[USL"UL"[ZN"Y\[\PN+" %ZNMN" N`TZQL^NM" MNNV" [S" ULOSRON" Q" TNP[QUL" MZUY[" UL" [ZN" ]UMT\MMUSLMK"TSVXQPN]"aU[Z"[ZN"M[Q[NVNL[M"[ZQ["QXXNQPN]"UL"[ZN"YUPM["MNPUNM"SY"aSPbMZSXM+""

TH!&45!=4;7M!@57;5@!6G!D67L@46?@!

#L" [ZN" [ZUP]" QL]" RQM[" MNPUNM" SY" aSPbMZSXMK" QRR" M[QYY" VNVcNPM" aNPN" ULOU[N]" [S"XQP[QbN+"#L"!A"]NXQP[VNL[QR"aSPbMZSXM"[ZN"M[QYY"^QON"[ZNUP"ULX\["[S"[ZN"SP^QLU_Q[USL"SY"[ZNUP"SaL"]NXQP[VNL[HM"YSP[ZTSVUL^"aSPbMXQTN"k"UL"QL"SXNL"SYYUTN"RQWS\[+"2NPNK"[ZN"M[QYY"aNL["[ZPS\^Z"OQPUS\M"N`NPTUMNM"QL]"h\NM[USLMK"UL"SP]NP"[S"XPS]\TN"ULX\["[S"[ZN"]NXQP[VNL[MH"QT[\QR"MXQ[UQR"SP^QLU_Q[USL"k"UL"Q"!1!"MTQRN+"%ZN"NONL[M"[SSb"XRQTN"UL" Q" RQP^NK" NVX[W"ZQRRK" UL"aZUTZ" [ZN"]NXQP[VNL[MH" QT[\QR" MU_N"aQM" MUV\RQ[N]"aU[Z"TZQRb"VQPbM"SL"[ZN"YRSSP"QL]"aZNPN"]UYYNPNL["YSQV"PNXRUTQ"aNPN"\MN]"[S"PNXPNMNL["[ZN" Y\PLU[\PN+" 7U[Z" PNYNPNLTN" [S" [ZN" SXNL" RQWS\[K" [ZN" N`NPTUMNM" Q]]PNMMN]" UMM\NM"M\TZ"QM"ZSa"[ZN"XZWMUTQR"MN[\X"SY"[ZN"aSPbM[Q[USLM"MZS\R]"cN"QPPQL^N]"UL"SP]NP"[S"MNT\PN"^SS]"TSRRQcSPQ[USL"SXXSP[\LU[UNMg"ZSa"Q"h\UN["aSPb"NLOUPSLVNL["TS\R]"cN"MNT\PN]K"QL]"VSPN+"""#L"PN[PSMXNT[K" [ZN"XPSTNMM"]NMU^LNPM"YS\L]"[ZN"ZU^Z"RNONR"SY"[QL^UcURU[W"UL"[ZNMN"

aSPbMZSXM"Q"]UMQ]OQL[Q^NK"UL"[ZN"MNLMN"[ZQ["[ZN"N`NPTUMNM"cNTQVN"[SS"]N[QURN]"QL]"

!;C""

RUYNDRUbN+"%ZN"PNM\R["aQM"[ZQ["[ZN"M\cMNh\NL["TZQL^NM"[ZQ["aNPN"VQ]N"UL"PN^QP]M"[S"[ZN" YULQR" ]NMU^L" RQWS\[K" ]\N" [S" [ZN" XPQT[UTQR" Q]d\M[VNL[M" [ZQ[" QPN" MS" TSVVSL" UL"TSVXRN`" c\UR]UL^" XPSdNT[MK" RNQ]" [S" TSLMU]NPQcRN" ]UMQXXSUL[VNL[M" cW" MSVN" SY" [ZN"XQP[UTUXQL[M+" 7ZQ[" MNNVM" [S" cN" Q[" M[QbN" ZNPN" UMK" [ZQ[" [ZN" PNQRUMV" [ZQ[" [ZNMN"aSPbMZSXM"PNXPNMNL[N]"QL]"[ZN"]NTUMUSLM"VQ]N"]\PUL^"[ZN"TS\PMN"SY"[ZN"aSPbMZSXM"aQM" N`XNPUNLTN]" QM" MS" ^NL\ULN" cW" [ZN" XQP[UTUXQL[M" [ZQ[" [ZNW" ncNTQVN" ]NMU^LNPMH+"%ZN" QPPQL^NVNL[" MSVNZSa" ]NXPUON]" [ZN" ]NMU^LNPMg" QPTZU[NT[M" QL]" XPSTNMM"]NMU^LNPM"QRUbNK"SY"[ZNUP"PNMXSLMUcURU[W"QL]"TPNQ[N]"TSVVU[VNL["cPNQb]SaLM"UL"[ZN"S[ZNP"NL]+".M"SLN"XQP[UTUXQL["PNVQPbM"UL"QL"UL[NPOUNa1"%%%!G#$.% ":'%:$$5+%:$."% )8%6.&% "#$%:#'*$% "#,.-%:6+% "#0':.%'("9% 6.&%:$%:$0$%

"'*&%"#6"%='(0%&$/60"7$."?%:6+.4"%-',.-%"'%)$%,.%"#6"%+/61$%6@"$0%6**A%E'%"#$%-''&%$@@'0"%:6+%F(+"%:6+"$&A2"""%ZN"h\S[N"URR\M[PQ[NM"[ZQ["aZURN"[ZN"<(HM"PNMXSLMUcURU[W"]UM[PUc\[USL"VU^Z["ZQON"

UL]\TN]" TSVVU[VNL[" QVSL^" [ZN"XQP[UTUXQL[M" SL" [ZN"SLN"ZQL]K" U[" UM" QRMS" RUbNRW" [S"ZQON" TQ\MN]" TSLMU]NPQ[N" N`XNT[Q[USLK" SL" [ZN"S[ZNP+"'P]ULQPW"XNSXRNK"aZS" QPN"LS["XPSYNMMUSLQR" ]NMU^LNPM" QTT\M[SVN]" [S" [ZN" TSVXRN`" XPSTNMM" [ZQ[" TSLM[U[\[N" [ZN"]NONRSXVNL["SY"Q"]NMU^L"TSLM[U[\[USLK"QPN"RUbNRW"[S"[QbN"[ZN"ULOU[Q[USL"[S"TSL[PUc\[N"QM" TSD]NMU^LNPM" QM" Q"h\U[N" RU[NPQR" TQRR+"-\[" [ZN"TSLTPN[NLNMM"QRMS"^QON" [ZN"XPSTNMM"RUYNK" QL]" ^NLNPQ[N]" Q" [QL^UcRN" MNLMN" SY" [ZN" LNa" c\UR]UL^HM" TSL]U[USLM+" -W" \MUL^"TSLTPN[N"VQ[NPUQR"[ZQ["PNXPNMNL[N]"QT[\QR"Y\PLU[\PN"UL"QL"QPNQ"[ZQ["aQM"VNQM\PN]"[S"YU["[ZN"QT[\QR"Y\[\PN"aSPbMXQTNK"[ZN"XQP[UTUXQL[MH"PNMXSLMUcURU[W"MNNVM"[S"ZQON"cNNL"Y\P[ZNP"NM[QcRUMZN]+".M"SLN"XQP[UTUXQL[" PNVQPbM" UL"QL" UL[NPOUNa"MZSP[RW"cNYSPN" [ZN"SP^QLU_Q[USL"VSON]"UL[S"[ZN"c\UR]UL^1"""!W'(%#6;$%"'%765$%,"%;,+,)*$A% 3.% "#6"%:68%,"%:6+%C(,"$%6.%$.F'86)*$%/0'1$++A% 3%

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b% "#6"% +'7$%1'.&,",'.+%-$"%1#6.-$&A%P@"$0%6**9%:$%&'.4"%)(,*&%"':.%#6**+%$;$08%8$60A%G#$+$%60$%"#,.-+%:$%0$6*,B$%'.%"#$%:68A2"%"

!;;""

2NPNK" Q" Y\P[ZNP" MZUY[" MNNVM" [S" ZQON" [QbNL" XRQTN+" =UPM[K" [ZN" M[QYY" VNVcNP"QTbLSaRN]^NM"[ZN"U]NQ"SY"OUMUcURU[W"QL]"VQ[NPUQRU[W"QM"Q"VNQLM"[S"\L]NPM[QL]"VSPN"QcS\["[ZN"MSTUQR"TSL[N`["Q["M[QbN"UL"[ZN"MU[\Q[USL+"6NTSL]K"MZN"NVXZQMU_NM"[ZQ["[ZN"UVXSP[QLTN"SY"!"#$%*6+"%.$-'",6",'.2K"LS["SLRW"PNXPNMNL[N]"cW"[ZN"aSPbMZSX"U[MNRYK"c\[" QRMS" cW" [ZN" M\TTNN]UL^" ]UMT\MMUSL+" 2NPNK" aSPbMZSX" PNM\R[M" ZQ]" YUPM[" cNNL"cPS\^Z[" [ZPS\^Z" Q" XPSTNMM" SY" [PQLMRQ[USL" QL]" [ZNL" [PQLMYSPVN]" UL[S" Q" ]NMU^L"PNXPNMNL[Q[USL" cW" [ZN" ]NMU^LNPM!E+" %ZN" [NPV" !.$-'",6",'.2" ZNPN" PNYNPM" [S" [ZN"M\cMNh\NL[" ]UQRS^\N" cN[aNNL" XQP[UTUXQL[M" QL]" QPTZU[NT[MK" \XSL" aZUTZ" [ZN" YULQR"]NTUMUSLM"QcS\[" [ZN" RQWS\["aNPN"cNUL^"VQ]N+" #L" [ZN" RQM["XQP["SY"ZNP"TSVVNL[K" [ZN"M[QYY" VNVcNP" QRMS" QTbLSaRN]^NM" [ZN" cQRQLTN" cN[aNNL" [ZN" SXXSP[\LU[W" [S" !"'%,.@*($.1$% ,"2K" SL" [ZN" SLN" ZQL]K" QL]"!"#6"% +'7$% 1'.&,",'.+% -'"% 1#6.-$&2K" SL" [ZN"S[ZNP+""""

]H!&45!@=9GG!?97=Q!!

=ULQRRWK" Q[" Q" M[QYY" XQP[W" SP^QLU_N]" M\cMNh\NL[" [S" [ZN" aSPbMZSX" QT[UOU[UNMK" [ZN"XPS^PNMMUSL"SY"[ZN"ZS\MN"ZQ]"TSVN"MS"YQP"[ZQ["[ZN"TQPTQMM"SY"[ZN"c\UR]UL^"aQM"MQYN"[S" NL[NP+" %ZN" XQP[W" U[MNRY"aQM" ZNR]" UL" Q" XQOURUSL" UL" YPSL[" SY" [ZN" c\UR]UL^K" c\[" [ZN"XQP[UTUXQL[M"aNPN"SYYNPN]"^\U]N]"[S\PM"QPS\L]"TNL[PQR"XQP[M"SY"[ZN"ZS\MN+"2NPNK"[ZN"XPSdNT[HM" QT[\QR" TSL]U[USLM" cNTQVN" NONL"VSPN" PNQR1" ]UM[QLTNMK" QTS\M[UTMK" YRSSP" [S"TNURUL^" ZNU^Z[K" QL]" VSPN+" #L" Q" M\cMNh\NL[" UL[NPOUNaK" Q" M[QYY" VNVcNP" aZS" aQM"TRSMNRW"ULOSRON]"UL"[ZN"c\UR]UL^"XPSdNT["PNYRNT[M"SL"[ZN"TRQPUYUTQ[USLM"[ZQ["[ZN"XQP[W"MNNVN]"[S"ZQON"XPSOU]N]1"""!3"% ,+%6%),"% 0$6*%$+"6"$N*,5$9% 3% 16.%#$60% "#6"9%)("% ,"%-,;$+%/$'/*$%6% +$.+$%'@% "#$%

(/1'7,.-%+/61$A%P*+'9%=>?%:$%"''5%"#$7%(/%'.%"#$%+$1'.&%@*''09%:#$0$%"#$%+'(.&%,.+(*6",'.%:6+% (/9% 6.&% 3% +6,&Q% X"08% "'% *,+"$.A%P.&% ,@%:$% -'% &':.+"6,0+%:#$0$% "#$%,.+(*6",'.%,+.4"%8$"%(/9%8'(%16.%#$60%"#$%&,@@$0$.1$%,.%"#$%61'(+",1+A42%""#L" QLS[ZNP" UL[NPOUNaK" Q"]NXQP[VNL["VQLQ^NP" PNYRNT[M"SL"ZSa" [ZN" [QL^UcURU[W"SY"

[ZN" QT[\QR" c\UR]UL^" TSL[PUc\[N]" [S"VS]UYW" MSVN" SY" [ZN" M[QYYHM" TSL[UL\N]" LN^Q[UON"QXXPSQTZ"[S"[ZN"XPSdNT["UL"^NLNPQR"QL]"[ZN"SXNL"RQWS\["UL"XQP[UT\RQP1""""""""""""""""""""""""""""""""""""""""""""""

!E"7ZNL"#"\MN"[ZN"[NPV"]NMU^LNPK"QL]"LS["QPTZU[NT["ZNPNK"U["UM"cNTQ\MN"[ZN"PNMXSLMUcRN"UL[NPUSP"]NMU^LNPM"UL"[ZN"XPSdNT["aZNPN"6U^LQR".PbU[Nb[NPK" [ZN"XPSTNMM"]NMU^LNPM" UL" [ZN"XPSdNT[K"QL]"LS["/2&".PbU[Nb[NPK"aZS"aNPN"[ZN"PNMXSLMUcRN"QPTZU[NT[M"SL"[ZN"N`[NPUSP"]NMU^L"SY"[ZN"c\UR]UL^+""

!;F""

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bUL^"cQTb"Q["[ZN"YS\P"M[Q^NM"XPSOUMUSLQRRW"S\[RULN]"SL"[ZN"XPNOUS\M"XQ^NMK"U["

MNNVM"[ZQ[" [ZN"M[QYY"]U]"^S"[ZPS\^Z"TNP[QUL"TZQL^NM" UL" [ZN"TS\PMN"SY" [ZNMN"NONL[M1"YPSV"M[PSL^"PNMUM[QLTN"[S"RUVU[N]"ZNMU[QLTN"QL]"XSMMUcRN"M\MTNX[UcURU[WK"PNMU^LQ[USLK"SP"S[ZNP+"-\["QM"#"UL]UTQ[N]"UL"[ZN"UL[PS]\T[USL"[S"[ZUM"MNT[USLK"MZUY[M"RUbN"[ZNMN"TQL"ZQP]RW" cN" MQU]" [S" cN" TSLMUM[NL[" UL" Q" TSVXRN`" SP^QLU_Q[USL" RUbN" Q" V\LUTUXQRU[W"Q]VULUM[PQ[USL+".M"SLN"M[QYY"VNVcNP"PNVQPbM"UL"QL"UL[NPOUNa1"""!G#$0$%:$0$%76.8%/$'/*$%:#'%:$0$%#6//8%"'%-$"%"#6"%-(,&$&%"'(0%=6"%"#$%+"6@@%

/60"8?A%U("%,"%#6+.4"%0$7';$&%"#$AA%3"%#6+.4"%76&$%"#$7%*''5%@'0:60&%"'%7';,.-%,.A2%""(NMU^L"UM"Q"XPSTNMM"cNYSPN"U["UM"Q"PNM\R["lTY+"MNT[USL"9.m+"%ZN"YS\P"M[NXM"S\[RULN]"

QcSON" VU^Z[" cN" XNPTNUON]" QM" QL" N`QVXRN" SY" QL" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMK"aZUTZ" XPS]\TN]" ULX\[" [S" ULYSPV" QL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 2NPNK" [ZN" M[QYY"VNVcNPHM" QcURU[W" [S"]UMT\MM" QL]"TSVXPNZNL]" [ZN"SXNL"SYYUTN" RQWS\[" QM" Q" TSLTNX["MNNVN]"[S"VQ[\PN"QM"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"NOSRON]+""%ZNUP"QP^\VNL[M"cNTQVN"VSPN" TSVXRN`" QM" [ZNW" cNTQVN" QTT\M[SVN]" [S" TSLONPMN" QcS\[" [ZN" MXQ[UQR"SP^QLU_Q[USL" SY" [ZNUP" XPQT[UTN+" .R[ZS\^Z" [ZN" SXNL" RQWS\[" aQM" LS[" UL[NL[USLQRRW"cPS\^Z[" \X" QM" h\NM[USLM" UL" [ZN" aSPbMZSX" N`NPTUMNMK" U[" QRaQWM" TQVN" \XK" SL" [ZN"XQP[UTUXQL[M" SaL" ULU[UQ[UON+" #L" [ZUM" XNPMXNT[UONK" [ZN" SXNL" RQWS\["VU^Z[" cN" MQU]" [S"ZQON" YSPVN]" QL" UVXSP[QL[" XSUL[" SY" PNYNPNLTN" UL" [ZN" XPSTNMM+" #[" TQ\^Z[" [ZN"XQP[UTUXQL[HM"UL[NPNM["UL"[ZN"XPSdNT[K"QL]"VQUL[QULN]"[S"[ZNUP"Q[[NL[USL"[ZPS\^ZS\[+"""

!;B""

$2%&)"-(&4$%'4&*4&,%=%3"'8%#$4&+#&*&'("!%44&")&4$(*$%0+!&!2*#0%&&

5SSbUL^"Q["[ZUM"YPSV"Q"VQLQ^NVNL["XSUL["SY"OUNaK"aN"VU^Z["TSLMU]NP"[ZN"YS\P"M[NXM" SY" SP^QLU_N]" XQP[UTUXQ[USL" QM" M[NXM" UL" Q" XPSTNMM" SY" M[PQ[N^UT" TZQL^N+"7U[Z"PNYNPNLTN"[S"[ZN"VNP^NP"cN[aNNL"[ZN"[aS"V\LUTUXQRU[UNMK"QL]"QRMS"[S"[ZN"MSVNaZQ["QVcU^\S\M" S\[RULN" SY" [ZN" SXNL" RQWS\[" QM" Q" XPNVUMNK" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"VU^Z[" cN" MNNL" QM" [ZN" <(HM" Q[[NVX[" [S" UVXRNVNL[" TNP[QUL" SP^QLU_Q[USLQR"Q]d\M[VNL[M" SY" M[PQ[N^UT" ScMNPOQLTN+" #L" [ZN" YSRRSaUL^K" #" ZQON" cNNL" ULMXUPN]" cW"0USUQ" QL]" *ZU[[UXN]]UHM" QXXPSQTZ" [S" [ZN" NM[QcRUMZVNL[" SY" M[PQ[N^UT" TZQL^N" UL"SP^QLU_Q[USLQR" TSL[N`[M" QM" PNTUXPSTQR" XPSTNMMNM" SY" MNLMNVQbUL^" QL]" MNLMN^UOUL^"l0USUQ"QL]"*ZU[[UXN]]U"!AA!K"7PU^Z["9EE;m+"'LN"SY"0USUQ"QL]"*ZU[[UXN]]UHM"TNL[PQR"XSUL[M"UM"[ZQ["XPSTNMMNM"SY"M[PQ[N^UT"TZQL^N"QPN"cQMN]"SL"MSVN"bUL]"SY"OUMUSL+"#["UM"UL" [ZN" QcURU[W" [S" LN^S[UQ[NK" NM[QcRUMZ" QL]" TSL[UL\S\MRW" Q]d\M[" [ZUM" OUMUSL" [ZQ[" [ZN"M\TTNMM"SY"[ZN"TZQL^N"XPSTNMM"PNMU]NM+"""&NTQRRUL^"[ZN"NONL[M"SY"[ZN"%SaL"2QRR"XPSdNT[K"aN"TQL"PNTS^LU_N"[ZUM"U]NQ"SY"Q"

MSVNaZQ[" QcM[PQT[" OUMUSL" [ZQ[" NOSRONM" QL]" M[QcURU_NM" [ZPS\^Z" [ZN" XPSTNMM" SY"XQP[UTUXQ[USL+" #[" TQL" cN" MNNL" SL" MNONPQR" RNONRM1" %ZN" U]NQ" SY" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USL"QM"!6%*$60.,.-%'0-6.,B6",'.2"TS\R]"cN"XNPTNUON]"QM"Q"OUMUSL"[ZQ["[ZN"SXNL" RQWS\[" M[P\T[\PN" TS\R]" NLZQLTN+" .RMSK" [ZN" QMXUPQ[USL" SY" ]NONRSXUL^" UL[S" Q"VS]NPL"SP^QLU_Q[USL"TS\R]"YSPV"[ZUM"bUL]"SY"QcM[PQT["OUMUSLK"XS[NL[UQRRW"M\XXSP[N]"cW"[ZN"SXNL"SYYUTN"M[P\T[\PNK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZN"NM[QcRUMZVNL["SY"!6%*$60.,.-%'0-6.,B6",'.2+"""#L" [ZUM" XPSTNMMK" [ZN" M[QYY"aQM" TSL[UL\S\MRW" ULOSRON]" UL" [ZN" ]UYYNPNL[" M[Q^NM" SY"

]NONRSXVNL[K" LS[" SLRW" UL" SP]NP" [S" XPS]\TN" ULX\[M" [S" ULYSPV" [ZN" QPTZU[NT[M" UL" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"%ZNW"aNPN"QRMS" ULOSRON]K" UL"SP]NP" YSP" [ZNVMNRONM" [S"TSVXPNZNL]"QL]"]U^NM["[ZN"]NONRSXVNL["SY"[ZN"]NMU^L+"%ZN"XPSTNMM"VU^Z["[Z\M"cN"MNNL" QM" PNTUXPSTQR1" [ZN" XQP[UTUXQL[M" XPS]\TN]" ULX\[" [S" ULYSPV" [ZN" lQPTZU[NT[\PQRm"]NMU^L"XPSTNMMK"aZURN"TSLT\PPNL[RW"cNUL^"ULYSPVN]"cW"[ZN"MQVN"XPS]\T[USL"XPSTNMM"lQL]"[ZNPNcW"QYYNT[UL^"[ZN"SP^QLU_Q[USLQR"]NMU^Lm+"#["UM"UL"[ZUM"PNTUXPSTQR"XPSTNMM"SY"XQP[UTUXQ[USL" [ZQ[" [ZN" M[QYYHM" XPSOUMUSLQR" QTTNX[QLTN" SY" [ZN" SXNL" RQWS\[" MNNVM" [S"NM[QcRUMZ" QL]" M[QcURU_N+" .R[ZS\^Z" [ZN" <(" NVXZQMU_NM" [ZQ[" ZN" MNNM" [ZN" YULQR"VQLQ^NVNL["]NTUMUSL"QM"ZUM"SaL"l!M$%:'(*&%*,5$%"'%#$60%8'(0%6&;,1$A%M$%:'(*&%

!;?""

*,5$%"'%$.-6-$%,.%"#$%&$)6"$A%U("%'.%6%1$0"6,.%/',."%,.%",7$%8'(%#6;$%"'%+68%X"#6.5%8'(% @'0% "#$% 1'."0,)(",'.+42mK" ZN" VQbNM" M\PN" [S" ^UON" [ZN" M[QYY" QL" SXXSP[\LU[W" [S"ULYR\NLTN"QL]"QRMS"TSVXPNZNL]"[ZNMN"]NTUMUSLM+"-W"ULOU[UL^"[ZN"M[QYY"[S"TSL[UL\S\M"TSLONPMQ[USLM"QcS\["[ZNUP"aSPb"XPSTNMMNM"QL]"PNRQ[USLMZUXM"UL"Q"MXQ[UQR"XNPMXNT[UONK"[ZN" OUMUSL" MNNVM" [S" VQ[\PN" QL]" NM[QcRUMZ+" $S[" UL" ]UPNT[" [PQLMYNPNLTNK" c\[" UL" QL"Q]d\M[N]"ONPMUSLK"UL"aZUTZ"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"]NMU^LM"]NONRSX"UL" Q" V\[\QR" XPSTNMM+" 0USUQ" QL]" *ZU[[UXN]]U" TZQPQT[NPU_N" [ZUM" [WXN" SY" PNTUXPSTQR"N`TZQL^N" QM" XPSTNMMNM" SY" MNLMNVQbUL^" QL]" MNLMN^UOUL^K" [ZPS\^Z" aZUTZ" q[ZN"SPU^ULQR"QcM[PQT["OUMUSL" UM" RUbNRW" [S"cNTSVN"VSPN"aNRRD]NYULN]"QL]"\L]NP^S"MSVN"VS]UYUTQ[USLMr"l0USUQ"QL]"*ZU[[UXN]]U"!AA!1";C;m+"""%ZNMN"PNTUXPSTQR"XPSTNMMNM"VU^Z["cN"MQU]"[S"[QbN"XRQTN"UL"QL"N`TZQL^N"cN[aNNL"

MNLMNVQbUL^" QL]" MNLMN^UOUL^" nVSONVNL[MHK"aZUTZ"VU^Z[" TSL[PUc\[N" [S" N`XRQUL" Q"YNa" SY" [ZN" ]NONRSXVNL[M" UL" [ZN"%SaL"2QRR" XPSdNT[+" =UPM[K" [ZN"<(" NM[QcRUMZNM" QL"UVXPNMMUSL"SY"[ZN"SP^QLU_Q[USLHM"XNPMXNT[UON"cW"\L]NP[QbUL^"[ZN"XPSVS[USL"[S\PK"UL"aZUTZ" ZN" ULYSPVM" [ZN" M[QYY" QcS\[" [ZN" XPSMXNT[M" SY" [ZN" LNa" [SaL" ZQRR+" %ZUM" UM" Q"MNLMNVQbUL^" XPSTNMMK" UL" aZUTZ" ZN" ]NONRSXN]" qQL" SONPQRR" UVXPNMMUSL" QcS\[" s[ZN"SP^QLU_Q[USLHMt" ZUM[SPWK" T\R[\PNK" M[PNL^[ZMK" QL]" aNQbLNMMNMr" l#cU]+1" ;;9m+" .[" [ZN"MQVN"[UVN"[ZNMN"ULU[UQR"]UQRS^\N"VNN[UL^M"XPS]\TN"MNLMNVQbUL^"SL"[ZN"M[QYY"RNONR+"2NPNK" [ZN"M[QYY" [PUNM" [S"TSVXPNZNL]"QL]"PNMXSL]"[S" [ZN" ULYSPVQ[USL"^UONL"[S" [ZNV"SL" [ZN"<(HM" XPSVS[USL" [S\PK" q[PWUL^" [S" YU^\PN" S\[" [ZN"VNQLUL^" SY" [ZN" XPSXSMN]"M[PQ[N^UT"TZQL^N"NYYSP[K"aZQ["U[M"NYYNT["SL"[ZNV"aS\R]"cNK"QL]"aZQ["[ZNUP"PSRN"UL"U["aS\R]" NL[QUR" laZUTZ" UL" MSVN" TQMNM" RN]" [S" PNMUM[QLTN" [S" [ZN" XPSXSMN]" TZQL^NMmr"lUcU]+m+"7N"VU^Z["MQW"[ZQ["[ZN"SXNL"SYYUTN"RQWS\["PNXPNMNL[N]"SLN"SY"[ZNMN"qTQMNMr+""".Y[NP" [ZN"XPSVS[USL" [S\PK" [ZN"<("[SSb"SL"aZQ["0USUQ"QL]"*ZU[[UXN]]U"TQRR" qQ"

MNLMN^UOUL^"VS]Nr"lUcU]1";;Cm+"2N"TQX[\PNM"[ZN"PNM\R[M"SY" [ZN"XPSVS[USL"[S\P"UL"Q"cPUNY" PNXSP[K" QL]"\MNM" [ZUM" QM" Q"VNQLM" [S" ULYSPV" [ZN" M[QYY" QcS\[" [ZN" MNLMN" ZN" ZQM"VQ]N" YPSV" [ZNUP" ULX\[+" 2NPNK" ZN" PN[\PLN]" [ZNUP" VNMMQ^N" lMNLMN^UOUL^m" cW"qM\XXRWUL^" Q" aSPbQcRN" UL[NPXPN[Q[USL" [S" [ZSMN" aZS" aS\R]" cN" QYYNT[N]" cW" ZUM"QT[USLMr"lUcU]+m+"7N"TQL"PNTQRR"[ZN"S\[RULN"SY"ZUM"PNXSP["YPSV"Q"XPNOUS\M"XQPQ^PQXZ"UL"[ZUM"MNT[USL"QM"cNUL^"M\TZ"qQ"aSPbQcRN"UL[NPXPN[Q[USLr1"""!R6.6-$7$."% 6*+'% .'"$+% "#$% $</*,1,"% +5$/",1,+7% ,.% "$07+% '@% "#$% '/$.% '@@,1$+A%

R6.6-$7$."%,+%+",**%'@%"#$%'/,.,'.%"#6"%"#$%6&;6."6-$+%6""61#$&%"'%"#$%'/$.%'@@,1$%6.&% ,"+% 6&F61$."% 1'77'.% @61,*,",$+% I@<A% 7$$",.-% 0''7+9% 1'."$7/*6",;$% +/61$+% 6+%

!;,""

:$**% 6+% /#'.$N% 6.&% 1'.;$0+6",'.% +/61$+K% :$,-#+% 7'0$% #$6;,*8% "#6"% "#$%&,+6&;6."6-$+9%6.&%+#'(*&%"#(+%+",**%)$%/(0+($&A2""-QMN]" SL" [ZNMN" ULU[UQR" XPSTNMMNM" SY" MNLMNVQbUL^" QL]" MNLMN^UOUL^K" [ZN"

XQP[UTUXQ[USL"QT[UOU[UNM"XPSOU]N]"[ZN"M[QYY"aU[Z"QL"SXXSP[\LU[W"[S"VQbN"MNLMN"SY"[ZN"VNMMQ^N" YPSV" [ZN" <(K" Q" MNh\NLTN" [ZQ[" TSL[UL\N]" UL" MNONPQR" M[NXM+" 3QTZ"XQP[UTUXQ[USL" QT[UOU[W"VU^Z[" [Z\M" cN" MQU]" [S" PNXPNMNL[" QL" ULM[QLTN" SY" MNLMNVQbUL^"QL]"MNLMN^UOUL^K"aZNPN"[ZN"XQP[UTUXQL["VQ]N"MNLMN"SY"[ZN"VNMMQ^N"^UONL"[S"[ZNVK"QL]"PN[\PLN]"Q"VNMMQ^N"cQMN]"SL"[ZNUP"UL[NPXPN[Q[USL+"2NPNK"[ZN"ULX\["YPSV"[ZN"\MNPM"YUPM["^SNM"[ZPS\^Z"Q"[PQLMRQ[USL"\L]NP[QbNL"cW"[ZN"XPSTNMM"]NMU^LNPMK"PNMXSLMUcRN"YSP"SP^QLU_UL^"[ZN"XQP[UTUXQL["QT[UOU[UNM+"6NTSL]K"[ZUM"[PQLMRQ[USL"UM"cPS\^Z["[S"[ZN"<("QL]" [ZN" VQLQ^NVNL[" [NQV+" %ZUP]K" U[" UM" cPS\^Z[" [S" [ZN" QPTZU[NT[M" QM" QL" ULX\[" [S"ULYSPV"[ZN"]NONRSXVNL["SY"[ZN"]NMU^L"MSR\[USL+"=SP[ZK"U["UM"PN[\PLN]"[S"[ZN"\MNPM"QM"MbN[TZNM" YPSV" [ZN" QPTZU[NT[M" SP" XPSTNMM" ]NMU^LNPMK" SP" NRMN" QM" M[PQ[N^UT" VNMMQ^NM"YPSV"VQLQ^NVNL[+"0USUQ"QL]"*ZU[[UXN]]U"TZQPQT[NPU_N"[ZNMN"XPSTNMMNM"SY"^UON"QL]"[QbN"QM"XPSTNMMNM"SY"\L]NPM[QL]UL^ITS^LU[USL"lMNLMNVQbUL^m"QL]"ULYR\NLTUL^IQT[USL"lMNLMN^UOUL^m"lUcU]+";;;m+"""5SSbUL^"Q["[ZN"]NONRSXVNL[M"[ZQ["[ZN"M[QYY"VU^Z["ZQON"^SLN"[ZS\^Z"cQMN]"SL"[ZN"

YS\P" M[NXM"SY"]NONRSXVNL["S\[RULN]"QcSON" UL" [ZUM" MNT[USLK"SLN"h\S[Q[USL"MNNVM" [S"TQX[\PN" MSVN" SY" [ZN" TSVXRN`U[W" [ZQ[" NVNP^NM" UL" [ZNMN" PNTUXPSTQR" XPSTNMMNM" SY"MNLMNVQbUL^"QL]"MNLMN^UOUL^+"2NPNK"Q"M[QYY"VNVcNP"PNVQPbM" [ZQ["MZN"QXXPNTUQ[N]"[ZN"LN^S[UQ[UL^"N`TZQL^NM"aU[Z"[ZN"]NMU^LNPM1"""!P.&% "#$.% :$% -'"% 6% +(--$+",'.% =)615% @0'7% "#$% &$+,-.$0+?% 6.&% 0$+/'.&$&% "'%

"#6"9%6.&%"#$.%:$%-'"%"'%"#$%*6+"%.$-'",6",'.%O%,"%)$167$%6%-''&%/0'1$++2+"""6ZN"S\[RULNM"[ZN"MNLMNVQbUL^"QL]"MNLMN^UOUL^"XPSTNMMNM"QM"cNUL^"N`TZQL^NM"SY"

UL[NPXPN[Q[USL"QL]"LN^S[UQ[USL"cN[aNNL"TRUNL[" PNXPNMNL[Q[UONM"QL]"]NMU^LNPM+".RMSK"MZN"UL]UTQ[NM"[ZQ["ZNP"QXXPSQTZ"ZQM"VS]UYUN]"QRSL^"[ZN"aQW1"""!P@"$0%6**9%:$%&'.4"%)(,*&%"':.%#6**+%$;$08%8$60A%G#$+$%60$%"#,.-+%:$%0$6*,B$%'.%

"#$%:682+"""$S[" SLRW" ]U]" [ZN" XQP[UTUXQL[MH" QcURU[W" [S" ]UMT\MM" [ZN" SXNL" RQWS\[" ]NONRSX"

\L]NPaQW+".RMSK" [ZN"<("VS]UYUN]" ZUM" QXXPSQTZ" [S" [ZN" M[P\T[\PNK" QTTSP]UL^RW+" #L"

!;A""

[ZUM"aQWK"aN"VU^Z["MQW"[ZQ["[ZN"S\[RULN"SY"[ZN"OUMUSL"NVNP^N]"SL"[ZN"cQMUM"SY"[ZNMN"TSL[UL\UL^"N`TZQL^NM1"""!P@"$0%6**9%,"4+%.'"%6%*6)'06"'08%:$%0(.A%3"%,+%/0'@$++,'.6*9%+'1,6*%:'05%/*61$A%E'%

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j0$6"H% j,;$% "#$7% +"$6&8% :'05% +"6",'.+A% W'(% 16.% 1#''+$A% 3@% :$% "#$.%$</$0,$.1$% "''% @$:%:'05%+"6",'.+%=>?%:$**9% "#$.%:$%#6;$% "'%#6.&*$% "#6"%)8%+'7$%5,.&%'@%6*"$06",'.%6-0$$7$."A2%%"#L"[ZUM"h\S[Q[USLK"[ZN"<("MNNVM"[S"NVXZQMU_N"[ZQ["TZQL^N"TQL"SLRW"[QbN"XRQTN"

UL" TSRRQcSPQ[USL" aU[Z" [ZN" XNSXRN" [ZQ[" TSLM[U[\[N" [ZN" SP^QLU_Q[USL+" 0USUQ" QL]"*ZU[[UXN]]U" N`XRQUL" U[" RUbN" [ZUM1" q)L]NPM[QL]UL^" QL]" QT[USLK" ULTR\]UL^" M[PQ[N^UT"QT[USLK"[Z\M"]NPUON"YPSV"[ZN"YPQVNaSPb"SY"VNQLUL^"QMTPUcN]"cW"[ZN"SP^QLU_Q[USLHM"VNVcNPMr" l0USUQ"QL]"*ZU[[UXN]]U"!AA!1";CFm+" #L" [ZN"%SaL"2QRR"XPSdNT[K" [ZUM"aQM"]SLN" [ZPS\^Z" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"2NPNK" [ZN"PNMXSLMN"YPSV"[ZN"XQP[UTUXQL[M"aQM" \MN]" QM" Q" TQ[QRW_NP" [S" MNT\PN" XPS^PNMM" UL"aZQ[" [ZN"<(" TZQPQT[NPU_N]" QM" !6%&'()*$% &$+,-.% /0'1$++2" lTY+" *ZQX[NP" !m+"7U[ZS\[" [ZN" M[QYY" SL" cSQP]K" Q"VUMVQ[TZ"cN[aNNL" [ZN" M[PQ[N^UT" SP^QLU_Q[USLQR" QMXUPQ[USLM" k" TSVV\LUTQ[N]" [ZPS\^Z" [ZN"QPTZU[NT[\PQR"]NMU^L"SY"[ZN"LNa"c\UR]UL^"k"VU^Z["ZQON"cNNL"VSPN"RUbNRW+""

!3"4+#0&!"88%#$4&

#L"[ZUM"MNT[USLK"#"ZQON"QUVN]"[S"URR\M[PQ[N"MSVN"SY"[ZN"[NLMUSLM"QL]"]URNVVQM"[ZQ["SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"MNNVM"[S"XPS]\TN+"#L"[ZN"YSRRSaUL^K"#"aURR"cPUNYRW"^S"[ZPS\^Z"Q"YNa"SY"[ZN"QLQRW[UTQR"XSUL[M"[ZQ["ZQON"NVNP^N]"SL"[ZUM"cQMUM+""%ZN"XSUL["SY"]NXQP[\PN"UL"[ZN"XPSdNT["aQM"Q"L\VcNP"SY"\XTSVUL^"TZQL^N"NONL[M1"

%ZNPN"aQM"[ZN"VNP^NPK"[ZN"LNa"XZWMUTQR"aSPbMXQTNK"QL]"QRMS"[ZN"XS[NL[UQR"TZQL^NM"[ZQ[" [ZUM"LNa"NLOUPSLVNL["aS\R]"NL[QUR+"%ZPS\^Z"N`[NL]N]"XPSTNMMNM"SY"NL]"\MNP"

!FE""

XQP[UTUXQ[USLK" [ZN" XS[NL[UQR" UVXRUTQ[USLM" SY" [ZNMN" TZQL^N" NONL[M" aNPN" ]UMT\MMN]"QVSL^" Q" MU^LUYUTQL[" ^PS\X" SY" M[QYY" PNXPNMNL[Q[UONM+" %ZN" S\[TSVN" XPS]\TN]" aQM"M\cM[QL[UQR"QL]"UL]UM[ULT[1"TSLTNPLMK"XPNYNPNLTNMK"LNa"U]NQM"QL]"VSPN"aNPN"cPS\^Z["YSP[ZK"UL"SP]NP"[S"ULYSPV"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"7U[Z"PNYNPNLTN"[S"[ZN"aQW"[ZNMN"XPSTNMMNM"aNPN"cNUL^"SP^QLU_N]"QL]" [ZN"VQ^LU[\]N"SY" U[M" PNM\R[MK"aN"VU^Z["MQW"[ZQ["[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"XPS]\TN]"QL"N`XNPUNLTN"SY"ULTPNQMN]"TSVXRN`U[W"QVSL^"[ZN"XQP[UTUXQL[M+"-\["U["VU^Z["QRMS"ZQON"PN]\TN]"[ZN"MNLMN"SY"TSVXRN`U[WK"cW"[ZN"MQVN"VNQLM1".M"[ZN"M[QYY"^S["VSPN"ULOSRON]"UL"[ZN"]NMU^L"XPSTNMM"[ZPS\^Z"[ZN"TSL[UL\S\M"XQP[UTUXQ[USLK"[ZN"TZQLTNM"[ZQ["[ZNUP"UL[NPXPN[Q[USLM"^S["ULYR\NLTN]"cW"[ZN"bLSaRN]^N"[ZNW"Sc[QUL"UL"[ZN"XQP[UTUXQ[USLK"VU^Z["QRMS"ZQON"ULTPNQMN]+"#Y"aN"RSSb"Q["U["[ZPS\^Z"QL"ULONM[VNL["XNPMXNT[UONK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TRNQPRW"PNXPNMNL[N]"Q"M\cM[QL[UQR"N`XNL]U[\PN"YSP"[ZN"SP^QLU_Q[USLK"SL"Q"YULQLTUQR"QM"aNRR"QM"SL"Q"VNL[QR"RNONR+" -\[" UY" [ZN" ULONM[VNL[" XPS]\TNM" QL" ULTPNQMN]" \L]NPM[QL]UL^" SY" TNL[PQR"SP^QLU_Q[USLQR"QMXUPQ[USLMK" U["VU^Z["cN"MQU]"[S"SONPMZQ]Sa"[ZN"ULU[UQR"TSM[M+" "2NPNK"[ZN" TSL[UL\S\M" N`TZQL^NM" [ZQ[" TSLM[U[\[N]" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"VU^Z[" ZQON"TQ\MN]" QL" N`[NL]N]" \L]NPM[QL]UL^" SY" [ZN" TSVXRN`U[W" [ZQ[" LNTNMMQPURW" M\PPS\L]M"SP^QLU_Q[USLQR" ]NONRSXVNL[" QL]" M[PQ[N^UT" TZQL^N+" &N[\PLUL^" [S" VW" PNMNQPTZ"h\NM[USL" SY" ZSa" SP^QLU_N]" XQP[UTUXQ[USL" TQL" ^NLNPQ[N" nTSLLNT[USLMH" cN[aNNL"SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNMK" [ZUM" [NLMUSL" cN[aNNL" ULTPNQMN"QL]"PN]\T[USL"SY"TSVXRN`U[W"VU^Z["cN"MQU]"[S"PNXPNMNL["M\TZ"Q"nTSLLNT[USLH+"""%ZN"SP^QLU_N]"XQP[UTUXQ[USL"XPS]\TN]"M[QcURU[WK"aU[Z"PN^QP]M"[S"[ZN"XQP[UTUXQL[MH"

XNPTNX[USL"SY"[ZN"SXNL"RQWS\["QM"QL"SP^QLU_UL^"XPULTUXRN+"#LU[UQRRWK"[ZN"XQP[UTUXQL[M"aNPN"]UM[ULT[RW"PNR\T[QL["[SaQP]M"[ZN"M[P\T[\PNK"cQMN]"SL"[ZNUP"XPNOUS\M"N`XNPUNLTN"SY"ZQOUL^" UL]UOU]\QR"SYYUTNM"QL]"SL" [ZN"TSL[NVXSPQPW"X\cRUT"]NcQ[N"SL" [ZN" UMM\N+"2NPNK"[ZN"TZQL^NM"[ZQ["[ZN"SXNL"RQWS\["aS\R]"UL]\TN"aNPN"]UYYUT\R["[S"TSVXPNZNL]"YSP"[ZN"XQP[UTUXQL[M+".M"[ZN"M[SPW"]NONRSXN]K"[ZN"PNMUM[QLTN"[SaQP]M"[ZN"SXNL"RQWS\["SL" [ZN" SLN" ZQL]" MNNVN]" [S" XNPMUM[" QVSL^" [ZN" VQdSPU[W" SY" [ZN" XQP[UTUXQL[M+"2SaNONPK"U["QRMS"bNX["\X"[ZNUP"NL^Q^NVNL["QL]"[Z\M"[ZNUP"SXXSP[\LU[W"[S"]UMT\MM"[ZN"UVXRUTQ[USLM" [ZQ[" M\TZ" Q" MXQ[UQR" QPPQL^NVNL[" VU^Z[" ZQON" SL" [ZN" YSP[ZTSVUL^"XPQT[UTN+" .R[ZS\^Z" [ZN" XQP[UTUXQL[M" ]U]LH[" NL]" \X" NVcPQTUL^" [ZN" SXNL" M[P\T[\PNK"[ZNUP"QXXPSQTZ"VU^Z["cN"MQU]"[S"ZQON"M[QcURU_N]K"UL"[ZN"TS\PMN"SY"[ZNUP"XQP[UTUXQ[USL+"%ZUM" XPSTNMM" SY" M[QcURU_Q[USL"VU^Z[" cN" MQU]" [S" PNXPNMNL[" Q" TZQL^NK" TQ\MN]" cW" [ZN"]UMT\MMUSLM"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"%ZN"[NLMUSL"cN[aNNL"TZQL^N"QL]"M[QcURU[W"VU^Z[" [Z\M" PNXPNMNL[" QLS[ZNP" XS[NL[UQR" nTSLLNT[USLH" cN[aNNL" SP^QLU_Q[USLQR" QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+""

!F!""

""""".LS[ZNP"XSUL[" [ZQ["VU^Z["^PSa"YPSV" [ZNMN" [WXNM"SY" MNLMNVQbUL^"XPSTNMMNMK" UL"aZUTZ" cNZQOUSPQR" TSVVU[VNL[" UM" XPS]\TN]" [ZPS\^Z" [ZN" NM[QcRUMZVNL[" SY" Q" cSL]"cN[aNNL" [ZN" XQP[UTUXQL[M" QL]" [ZN" NVNP^NLTN" SY" Q" ]NMU^L" MSR\[USLK" UM" [ZQ[" [ZN"XQP[UTUXQ[USL" XPS]\TNM" M[PNQVRULN]" XNPTNX[USLM1" %ZQ[" aN" NL]" \X" XNPTNUOUL^" [ZN"aSPR]" UL" [ZN"MQVN"aQW+"#L" [ZUM"XNPMXNT[UONK" [ZN"TSL[UL\S\M"XQP[UTUXQ[USL"QT[UOU[UNM"UL" [ZN" %SaL" 2QRR" XPSdNT[" TQL" cN" MQU]" [S" ZQON" PNXNQ[N]" TNP[QUL" VNMMQ^NM" QL]"QOSU]N]"S[ZNP" UMM\NM"k"QL]" [ZNPNcW" [S"ZQON" ULM[U^Q[N]"VQLUX\RQ[USL+"2SaNONPK" QL"UMM\N" [ZQ[" [ZNMN" SP^QLU_N]" QT[UOU[UNM" ULOQPUQcRW" QOSU]N]" lUL" [ZN" h\NM[USLM" QL]"N`NPTUMNM" [ZQ[" TSLM[U[\[N]"N+^+" [ZN"aSPbMZSXMm"aQM" [ZQ["SY" [ZN"SXNL"SYYUTN" RQWS\[+"-\[" [ZUM" XQP[UT\RQP" UMM\N" QRaQWM" TQVN" \X" SL" [ZN" XQP[UTUXQL[MH" ULU[UQ[UONK" QRR" [ZN"MQVN+"#L"NONPW"MUL^RN"NONL[K"[ZN"XQP[UTUXQL[M"cPS\^Z["U["\X"QM"Q"PNRNOQL["M\cdNT[K"UL"PN^QP]M" [S" [ZN" TSL[N`[+" 6S" QR[ZS\^Z" [ZN" h\NM[USLM" QMbN]" UL" [ZN" N`NPTUMNM" QL]" [ZN"^NLNPQR"XPNTSL]U[USLM"[ZQ["TZQPQT[NPU_N]"[ZN"XPSdNT["VU^Z["cN"MQU]"[S"ZQON"ULYSPVN]"[ZN" PNM\R[M" SY" [ZN" ]NMU^L" MSR\[USLMK" [ZNMN" QT[UOU[UNM" V\M[" QRMS" cN" PN^QP]N]"\LTSL[PSRRQcRN+"%ZN"XQP[UTUXQL[M"TSL[UL\N]"[S"[QRb"QcS\["[ZNUP"TSLTNPLM"YSP"[ZN"SXNL"SYYUTN" RQWS\["cNTQ\MN" [ZNW"bNX["aSPPWUL^"QcS\["aZQ["M\TZ"Q"LNa"M[P\T[\PN"aS\R]"NL[QUR+" -W" ZSR]UL^" SL" [S" [ZN" UMM\N" UL" [ZN" TSLONPMQ[USLM" [ZQ[" [SSb" XRQTN" UL" [ZN"XQP[UTUXQ[USL" QT[UOU[UNMK" [ZN" XQP[UTUXQL[M" VQW" LS[" ZQON" cPS\^Z[" YSP[Z" Q" XSMU[UON"QXXPSQTZ" [S" [ZN" SXNL" RQWS\[" k" M[URR" LS[" QTh\QUL[N]" aU[Z" [ZN" TZQRRNL^NM" M\TZ" Q"M[P\T[\PN" aS\R]" TQ\MN+" -\[" [ZN" TSLONPMQ[USLM" MNNVN]" [S" ^NLNPQ[N" Q" TNP[QUL"TQXQcURU[W"[S"PNYRNT["\XSL"M\TZ"LNa"aSPb"TSL]U[USLM+""5SSbUL^"cQTb"Q["[ZN"NONL[M"UL"[ZN" %SaL"2QRR" XPSdNT[K" [ZN" PNM\R["VU^Z[" cN" XNPTNUON]" QM" [ZN" NM[QcRUMZVNL[" SY" QL"SP^QLU_Q[USLK" TQXQcRN" SY" LQOU^Q[UL^" [ZNUP" SaL" aSPb" TSL]U[USLM1" %ZQ[" N`[NL]N]"TSLONPMQ[USLM" T\R[UOQ[N" XNSXRNHM" TQXQTU[W" [S" QP[UT\RQ[N" QL]" [ZNPNcW" TSVXPNZNL]"MSVN" SY" [ZN" TSVXRN`U[W" [ZQ[" [ZNUP" XPSYNMMUSLQR" XPQT[UTN" PNXPNMNL[+"2NPNK"aN"VQW"PNTQRR"7NUTbHM" ]NMTPUX[USL" SY" [ZN" XQP[" SY" Q" MNLMNVQbUL^" XPSTNMM" ZN" PNYNPM" [S" QM"PN[NL[USL+" #L" [ZN" XPSdNT[K" [ZN" XQP[UTUXQL[M" PNTQRR" [ZN" SXNL" SYYUTN" RQWS\[" UL" NONPW"ULM[QLTN" SY" XQP[UTUXQ[USL" UL" [ZN" ]NMU^L" XPSTNMM+" #[" PNXPNMNL[M" QL" SXXSP[\LU[W" [S"q[ZULbUL^"U["Q^QULr"lJQVNM"!AFE1"BF;K"UL"7NUTb"!A?A1"9E?m+""%ZNMN"lMNLMNVQbUL^m"XPSTNMMNM" MNNVN]" [S" YSPV"Q"TSL[UL\U[WK" [ZPS\^Z"aZUTZ" [ZN"XQP[UTUXQL[M" RNQPLN]" [S"ZQL]RN"k"QP[UT\RQ[N"QL]"TSVXPNZNL]"k"[ZN"UVXRUTQ[USLM"UL"h\NM[USL+"%S"bNNX"\X"[ZN"NL^Q^NVNL["UL"[ZUM"[WXN"SY"]NMU^L"XPSTNMM"QL]"[S"NLZQLTN"[ZN"QcURU[W"[S"]UMT\MM"[ZN"XS[NL[UQR" UVXRUTQ[USLM" QL]"SXXSP[\LU[UNM" [ZQ[" M\TZ"Q"LNa"M[P\T[\PN" TS\R]"^NLNPQ[N"VU^Z["cN"MNNL"QM"TNL[PQR"YNQ[\PNM"MS\^Z["YSP"UL"[ZN"QMXUPQ[USL"SY"cNTSVUL^"Q"VS]NPL"SP^QLU_Q[USL+""

!F9""

%ZN"UVXRUTQ[USLM"SY"[ZN"SXNL"SYYUTN"RQWS\["VU^Z["MNPON"QM"QL"N`QVXRN"SY"[ZQ["[ZN"XQP[UTUXQL[MH"XNPTNX[USL"MRU^Z[RW"VS]UYUN]K"UL"[ZN"TS\PMN"SY"[ZN"XQP[UTUXQ[USL+"-\["QM"aURR" cN" ]NMTPUcN]" UL" [ZN" LN`[" MNT[USLK" M[QcURU[W" UM" QRMS" RUbNRW" [S" cPNQb" UL"SP^QLU_Q[USLQR"TSL[N`[M+"#L"[ZUM"MNT[USLK"#"ZQON"URR\M[PQ[N]"ZSa"QPTZU[NT[\PQR"]NMU^L"TSVXSLNL[M"aNPN"\MN]"QM"Q"VNQLM"[S"]NONRSX1"TZQL^N"QL]"M[QcURU_N"SP^QLU_Q[USLQR"]NMU^L"YNQ[\PNM+"#L"[ZN"LN`["MNT[USLK"#"aURR"X\PM\N"[ZUM"U]NQ"SY"cPUL^UL^"QPTZU[NT[\PQR"VNQLM"UL[S"SP^QLU_Q[USLQR"TSLONPMQ[USLM"Y\P[ZNP+"2NPNK"#"aURR"QRMS"RSSb"UL[S"ZSa"[ZN"lSP^QLU_Q[USLQRm" N`TZQL^NM"aU[Z" [ZN" QPTZU[NT[\PQR"VU^Z["ZQON" UVXRUTQ[USLM" YSP" [ZN"QPTZU[NT[\PQR"]NMU^L+""""

' '

!FC""

4%!$+"#&?!1&$2%&%#$(*#!%&!"-#$%(&+#&$2%&$"5#&2*33&'("@%!$&

"

+#$(",-!$+"#&

#L"[ZN"XPNOUS\M"MNT[USLK"U["aQM"]NMTPUcN]"ZSa"[ZN"XQP[UTUXQL[MH"QXXPSQTZ"[S"[ZN"SXNL" SYYUTN" RQWS\[" MNNVN]" [S" \L]NP^S" Q" TNP[QUL" MZUY[K" UL" [ZN" TS\PMN" SY" [ZNUP"XQP[UTUXQ[USL+"%ZNW"]U]"LS["NL]"\X"NVcPQTUL^"[ZN"SXNL"M[P\T[\PN"QM"M\TZK"c\["[ZNUP"TSL[UL\S\M"UL[NPNM["UL"[ZUM"XQP[UT\RQP"YNQ[\PN"QXXNQPN]"[S"VQUL[QUL"[ZNUP"Q[[NL[USL+"#L"[ZUM"XPSTNMMK"[ZNUP"QcURU[W"[S"]UMT\MM"[ZNUP"Y\[\PN"aSPb"XPQT[UTN"QXXNQPN]"[S"^PSa"QL]"[ZNUP"OUNa"SL"[ZN"SXNL"RQWS\["cN^QL"[S"M[QcURU_N+"#L"[ZN"YSRRSaUL^"MNT[USLK"#"XPNMNL["Q" M[SPW" YPSV" [ZN" TQMN" [ZQ[" URR\M[PQ[NM" UL[NPP\X[USL" [S" [ZUM" M[QcURU[WK" aZURN" QRMS"XPSOU]UL^" QL" N`QVXRN" SY" ZSa" [ZN" RULb" cN[aNNL" QPTZU[NT[\PQR" QL]" SP^QLU_Q[USLQR"]NMU^L"XPSTNMMNM"VU^Z["cN"MQU]"[S"ULYR\NLTN"[ZN"]NONRSXVNL["SY"[ZN"lQPTZU[NT[\PQRm"]NMU^L"MSR\[USL+"""#L" [ZN" YSRRSaUL^" M[SPWK" [ZN" XZWMUTQR" TSL[N`[" Q[" M[QbN" UM" [ZN" %SaL" 2QRRHM"

PNTNX[USL"QPNQK"UL"aZUTZ"Q"TNL[PQR"QPTZU[NT[\PQR"ScdNT["k"[ZN"NL[PQLTN"TS\L[NP"kaNL["[ZPS\^Z" TSL[UL\S\M" ]NONRSXVNL[M" UL" [ZN" TS\PMN" SY" [ZN" ]NMU^L" XPSTNMM+" %ZN" M[SPW"S\[RULN" UM" [ZUM1"."M[QYY"VNVcNPK"aZS"ZQ]"cNNL"QT[UONRW" ULOSRON]" UL" [ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNMK"PN[\PLN]"YPSV"ZNP"VQ[NPLU[W"RNQON"[S"MNN"[ZN"LNa"[SaL"ZQRR"NVNP^UL^" YPSV" [ZN"^PS\L]+"*SLYPSL[N]"aU[Z" MbN[TZNM" SY" [ZN" XZWMUTQR" QPNQ" SY" ZNP"]NXQP[VNL[K" MZN" YS\L]" [ZN" URR\M[PQ[USLM"SY" [ZN"NL[PQLTN"TS\L[NP" ULTSVXQ[UcRN"aU[Z"[ZN"ZNQ]RULNM" YSP" [ZN"XPSdNT[K" QM" MZN"ZQ]"XNPTNUON]" [ZNV"]\PUL^"ZNP"XQP[UTUXQ[USL+"2QOUL^" Q]QX[N]" [ZN" U]NQ" SY" [ZN" TRSMNP" RULb" cN[aNNL" SP^QLU_Q[USLQR" XPQT[UTN" QL]"

!F;""

MXQ[UQR"YPQVNaSPbK"MZN"YS\L]"[ZQ["[ZN"MbN[TZNM"]UMTRSMN]"Q"]UMTSLLNT[USL"cN[aNNL"[ZN" [aS+" 'L" [ZUM" cQMUMK" MZN" TSL[QT[N]" MNONPQR" SY" [ZN" XPSdNT[HM" TNL[PQR" XRQWNPM" [S"]UMT\MM" [ZN" VQ[[NP1" [ZN" <(K" ZNP" TRSMN" TSRRNQ^\NMK" [ZN" QPTZU[NT[MK" [ZN" XPSTNMM"]NMU^LNPMK" QL]"VSPN+" %ZPS\^Z" Q" MNPUNM" SY" LN^S[UQ[USLMK" [ZN" NL[PQLTN" TS\L[NP"aQM"PN]NMU^LN]K"QTTSP]UL^"[S"ZNP"ScdNT[USL+""""#L"[ZN"QLQRWMUM"cNRSaK"#"]UMT\MM"ZSa"[ZUM"TS\R]"ZQXXNL+"=UPM[K"#"cPUNYRW"Q[[NL]"[S"

ZSa"TNP[QUL"U]USVQ[UT"XZPQMNM"QL]"SONPQRR"SP^QLU_Q[USLQR"QMXUPQ[USLM"aNPN"\MN]"UL"[ZN"aPU[[NL"XPSdNT["S\[RULN+"2NPNK"#"]UMT\MM"[ZN"XS[NL[UQR"PNRQ[USLMZUX"cN[aNNL"[ZNMN"]ST\VNL[MK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"QL]"[ZN"SP^QLU_Q[USLHM"MNLMN"SY"U]NL[U[W+"#L"[ZN"MNTSL]"QL]"XPN]SVULQL["XQP["SY"[ZN"MNT[USLK"#"RSSb"Q["ZSa"[ZN"QT[\QR"LN^S[UQ[USL"SY" [ZN"PN]NMU^L"[QbNM"XRQTN+"2NPNK"#"]UMT\MM"ZSa"Q"M[QYY"VNVcNP"TS\R]"VQLQ^N"[S"VScURU_N" Q" LN[aSPb" SY" TSL[PUc\[SPM" [ZQ[" [S^N[ZNP" ^S[" [ZN" MZQXN" SY" [ZN" NL[PQLTN"TS\L[NP"VS]UYUN]+" #L" [ZUM"]NMU^L"XPSTNMMK" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"MNNV"[S"ZQON"TSL[PUc\[N]" [S" [ZN" TSLM[P\T[USL" SY" Q" RULb" cN[aNNL" [ZN" QPTZU[NT[\PQR" QL]" [ZN"SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM+" 2NPNK" XQP[UTUXQ[USL" cNTQVN" Q" VN]U\VK" [ZPS\^Z"aZUTZ"SP^QLU_Q[USLQR"TZQL^N"[SSb"XRQTN"k"QL"Q]d\M[VNL["[ZQ["M\cMNh\NL[RW"RN]"[S"QL"QPTZU[NT[\PQR" PN]NMU^L+" %ZN" ULTU]NL[" MNPONM" QM" Q" XSUL[" SY" ]NXQP[\PNK" LS[" SLRW" [S"]UMT\MM"ZSa"QPTZU[NT[\PQR"TSL[N`[M"TQL"cN"\MN]"UL"SP]NP"[S"]UMT\MM"QL]"M\XXSP["[ZN"SP^QLU_Q[USLQR" ]NMU^L" ]NONRSXVNL[+" #[" QRMS" PNXPNMNL[M" QL" SXXSP[\LU[W" [S" N`XRSPN"ZSa" ]UYYNPNL[" VN]UQ" [ZQ[" PNXPNMNL[" SP^QLU_Q[USLQR" XPQT[UTN" lYSP" N`QVXRN"TSLONPMQ[USLM" QL]" ]ST\VNL[Mm" TQL" ULYSPV" [ZN" ]NONRSXVNL[" SY" QL" QPTZU[NT[\PQR"]NMU^L+"*SLTNX[M" [ZQ["]NPUON" YPSV"QT[SPDLN[aSPb" [ZNSPW" "QL]" UL"XQP[UT\RQP" [ZQ["SY"[PQLMRQ[USL" QL]" MXSbNMVQL" lN+^+" *QRRSL" QL]" 5Q[S\P" !A,!K" *QRRSL" !A,BK" 5Q[S\P"!A,BK" !AA!K" !AAAK" TY+" MNT[USL" 9*mK" QL]" QRMS" YPSV" ]ST\VNL[" QLQRWMUM" lN+^+" 6VU[Z"!A,;K"9EE!K"4PUSP"9EECK"9EE;K"TY+"*ZQX[NP"Cm"ZQON"MNPON]"QM"MS\PTNM"SY"ULMXUPQ[USL"UL"[ZN"]UMT\MMUSLM+""""

!FF""

!2*(3"$$%>4&4$"(61&(%,%4+0#+#0&$2%&%#$(*#!%&!"-#$%(&

"!3"%#6+%)$$.%0$&$+,-.$&%6+%6%0$+(*"%'@%6%0$6*%)6""*$A% =>?%3%#6&%="#$%RS?%6.&%

="#$% /0'F$1"%76.6-$0?% ,.;'*;$&% ,.% 6% &,6*'-($%:#$0$% 3% "'*&% "#$7% "#6"% "#,+% +,7/*8%&'$+.4"%+(//'0"%:#6"%:$%:6."A%E'%:$%-'"%,"%="#$%$."06.1$%1'(."$0?%'/$.$&A2%".M"aN"ZQON" MNNL" QcSON" UL" MNT[USL" F.K" QL" N`[NL]N]" QVS\L[" SY" SP^QLU_N]" NL]"

\MNP" XQP[UTUXQ[USL" QT[UOU[UNM" aNPN" MNNL" QM" QL" UL[N^PQ[N]" XQP[" SY" [ZN" %SaL" 2QRR"XPSdNT[" QM" QL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 'LN" M[QYY"VNVcNP" [ZQ[" aQM" QL" QT[UON"XQP[UTUXQL[" UL" MNONPQR"aSPbMZSXM"aQM"*ZQPRS[[NK" [ZN"]NXQP[VNL["VQLQ^NP"SY"!G#$%D,",B$.% E$0;,1$% D$."$02+" !G#$% D,",B$.% E$0;,1$% D$."$02" PNXPNMNL[M" [ZN"Q]VULUM[PQ[USLHM"UL[NPYQTN"aU[Z"U[M"TRUNL[MK"LQVNRW"TU[U_NLM"UL"[ZN"V\LUTUXQRU[W"QL]"S[ZNP"OUMU[SPM+".Y[NP"LULN"VSL[ZM"SY"VQ[NPLU[W"RNQONK"*ZQPRS[[N"PN[\PLN]"[S"aSPb"[S"YUL]"[ZN"[SaL"ZQRR"NVNP^UL^"QM"QL"QT[\QR"c\UR]UL^+"6ZN"PNNL^Q^N]"aU[Z"[ZN"XPSdNT["QL]" YS\L]" [ZN" QRPNQ]W" QXXPSON]" MbN[TZNM" SY" [ZN" QPNQ" [ZQ[" TSONPN]" ZNP" \LU[K"LNTNMMQPW"[S"UL[NPPS^Q[N1"""!=M?#$.%3%0$"(0.$&%,.%P/0,*9% "#$0$%:$0$% "#,.-+% "#6"%:'(*&%+''.%)$%"''%*6"$% "'%

1#6.-$9%,.1*(&,.-%"#$%&$+,-.%'@%"#$%$."06.1$%1'(."$09%:#,1#%3%&,&.4"%*,5$Q%,"%:6+%6%1'(."$0%:,"#%"#$%%:'0+"%"#,.56)*$%1'..'"6",'.+A%=M,"#%+(1#%6%+$"(/?%:$%:'(*&%-$"%;$08%7(1#%+$/606"$&%@0'7%'(0%1*,$."+A2"".M" *ZQPRS[[N" UL]UTQ[NM" UL" [ZUM" h\S[Q[USLK" MZN" YUL]M" [ZN" MZQXN" SY" [ZN" NL[PQLTN"

TS\L[NP"\LYSP[\LQ[N"aU[Z"PN^QP]M"[S"MSVN"SY"[ZN"V\LUTUXQR"Q]VULUM[PQ[USLHM"TNL[PQR"QMXUPQ[USLM" YSP" [ZN" LNa" [SaL" ZQRR+" 'LN" SY" [ZNMN" QMXUPQ[USLM" aQM" QL" Q[[NL[UON"PNRQ[USLMZUX" [S" TRUNL[M+" &NTQRRUL^" [ZN" ]UMT\MMUSL" UL" [ZN" XPNOUS\M" MNT[USLK" [ZN"QMXUPQ[USL" VU^Z[" PNVUL]" \M" SY" [ZN" LS[USL" SY" cNTSVUL^" Q" VS]NPL" X\cRUT"SP^QLU_Q[USL+"5Q[NP"UL"[ZN"MQVN"UL[NPOUNa"MZN"N`XRUTQ[NM1"""!=M?#$.%:$%)(,*&%6%"':.%#6**%"#6"%,.%$;$08%'"#$0%:68%6,7+%"'%+,-.,@8%'/$..$++9%

"'%+,-.,@8%6%+$.+$%'@%1'77(.,"89%3%&'.4"%"#,.5%:$%16.%*$6;$%"#$%1*,$."+%'.%"#$%'"#$0%+,&$%'@%6%;$08%&,+",.1",;$%1'(."$09%:,"#%@,@"$$.%'@%'(0%+"6@@%)$#,.&%,"A2""

!FB""

#L" [ZUM" h\S[Q[USLK" MZN" UL]UTQ[NM" [ZQ[" SLN" SY" [ZN" XPSdNT[HM" TNL[PQR" X\PXSMNM" ZQM"cNNL" YSP" [ZN"V\LUTUXQRU[W" Q]VULUM[PQ[USL" [S" TSLONW"!'/$..$++2" QL]"!6% +$.+$% '@%1'77(.,"82" k" [ZPS\^Z" [ZN" VN]U\V" SY" [ZN" LNa" c\UR]UL^+" -\[" aZNPN" ]U]" [ZUM"XNPTNX[USL" SY" X\PXSMN" TSVN" YPSVo" *ZQPRS[[N" ZQ]" cNNL" QT[UONRW" ULOSRON]" UL" [ZN"XPSdNT["QM"Q"XQP[UTUXQL["MULTN"[ZN"MNTSL]"MNPUNM"SY"aSPbMZSXM"QL]"ZQ]"PNQ]"VQLW"SY"[ZN"]ST\VNL[MK"\XSL"aZUTZ"[ZN"XPSdNT["aQM"c\UR[+"%ZPS\^Z"[ZNMN"QT[UOU[UNMK"MZN"ZQ]"cNNL"Q"XQP["SY"[ZN"N`[NL]N]"N`TZQL^NM"cN[aNNL"VQLQ^NVNL["QL]"M[QYY"[ZQ["STT\PPN]"UL" [ZN" TS\PMN" SY" [ZN" XPSdNT[+".M"aURR" cN" ]NMTPUcN]" UL" [ZN" ]UMT\MMUSL" cNRSaK" [ZNPN"aNPN" MNONPQR" YQT[SPM" [ZQ[" XS[NL[UQRRW" TS\R]" ZQON" ULYR\NLTN]" [ZUM" XNPTNX[USL" SY"!'/$..$++2" QM" Q" TNL[PQR" QMXUPQ[USL+" %ZN" SPTZNM[PQ[N]" TSLONPMQ[USLM" UL" [ZN"aSPbMZSXM"VQW"ZQON"cNNL"SLN+"%ZN"L\VcNP"SY"SYYUTUQR"]ST\VNL[M" [ZQ["]NMTPUcN]"[ZN"XPSdNT["VQW"ZQON"cNNL"QLS[ZNP+" #L" [ZN"h\S[Q[USL"QcSONK"*ZQPRS[[N"NVXZQMU_NM"[ZQ[" [ZN"QMXUPQ[USL" [S"N`XPNMM"!'/$..$++2"aQM"LS["SLRW" UL]UTQ[N]" UL"SLN"aQWK"c\["!,.%$;$08%'"#$0%:6829"aZUTZ"MNNVM"[S"UL]UTQ[N"Q"^NLNPQR"YST\M"SL"SXNLLNMM"UL"[ZN"XPSdNT[+"'L"[ZQ["cQMUMK"aN"VU^Z["TSLTR\]N"[ZQ["TNP[QUL"VNMMQ^NM"QPN"RUbNRW"[S"ZQON"cNNL" PNXNQ[N]K" UL" SP]NP" YSP" [ZN" XPSdNT[" [S" ]NONRSX" UL" TSPPNMXSL]NLTN" aU[Z"VQLQ^NVNL[HM"SONPQRR"MNLMN"SY"Q"OUMUSL!!+"%ZN"<("TSLYUPVM"[ZUM"XSUL[1"""!=>?% "#$0$% #6;$% )$$.% "#'+$% /',."+% '@% 0$@$0$.1$% "#6"% 8'(% 1'(*&% 0$@$0% "'9% "#6"%

:$0$% "'%)$%1'77(.,16"$&%6-6,.%6.&%6-6,.%O%:#,1#% "#$8%#6;$% ,.&$$&%)$$.A%G#$8%#6;$%0$/$6"$&*8%)$$.%/("%'("% ,.%.$:%;$0+,'.+9%$"1A%XG#,+%,+%:#6"%:$40$%6,7,.-%6"A%G#,+%,+%:#6"%"#,+%#'(+$%,+%+(//'+$&%"'%611'77'&6"$4A2""*ZQPRS[[N" [SSb" SL" [ZUM" VNMMQ^N" QL]" bNX[" NL^Q^UL^" UL" [ZN" XPSdNT[+" %ZN"

SP^QLU_Q[USLHM"ScRU^Q[USLM"QL]"QMXUPQ[USLM"MNPON]"QM"ZNP"^NLNPQR"XSUL["SY"]NXQP[\PN"UL" [ZN" NL^Q^NVNL[1" N`[NPLQRRWK"aU[Z" PNYNPNLTN" [S" [ZN" TRUNL[MK" QL]" UL[NPLQRRWK"aU[Z"PNYNPNLTN" [S" [ZN" M[QYYHM" MNLMN" SY" U]NL[U[W+" 2NPNK" MZN" N`XNPUNLTN]" Q" Y\L]QVNL[QR""""""""""""""""""""""""""""""""""""""""""""

!!".M"U["aQM"M\^^NM[N]"UL"MNT[USL"F-"laU[Z"PNYNPNLTN"[S"0USUQ"QL]"*ZU[[UXN]]UHM"QXXPSQTZ"[S"UVXRNVNL[UL^"M[PQ[N^UT"TZQL^N"[ZPS\^Z"XPSTNMMNM"SY"MNLMNVQbUL^"QL]"MNLMN^UOUL^mK"[ZUM"OUMUSL"VU^Z["ZQON"M[QP[N]"S\["QM"QL"QcM[PQT[" U]NQ"QL]" [ZNL"]NONRSXN]"QTTSP]UL^RW+"-\["aN"QRMS"bLSa"YPSV" [ZN"<(" [ZQ["TNP[QUL" M[PQ[N^UT"QMXUPQ[USLM" ]U]" N`UM[" XPUSP" [S" [ZN" ]NMU^L" XPSdNT[" QL]" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" l!=>?% "'% &$;$*'/% "#$%7(.,1,/6*,"8% ,.% "#$%:68% "#6"%:$%=>?%#6&% "0,$&% "'%&$+10,)$% ,.%;60,'(+%&,+1(++,'.%/6/$0+A2m+".RMSK" UY"aN"PNTQRR"[ZN"S\[RULN"SY"[ZN"XPSTNMM"]NMU^LNPHM"^NLNPQR"VN[ZS]"YPSV"MNT[USL"F.K"aN"PNVNVcNP"[ZQ["[ZN"RSWQR[W"[SaQP]M" [ZN" TRUNL[HM" SONPQRR" OUMUSL" MNPON]" QM" Q" ^\U]NRULN" UL" [ZN" [PQLMRQ[USL" XPSTNMM1" #L" [ZN" XPSTNMM" SY"cPUL^UL^" [ZN" nSP^QLU_Q[USLQR" ULX\[H" UL[S"Q" MZQXN" [ZQ[" TS\R]"cN" PNQ]"cW" [ZN"QPTZU[NT[M" UL" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK" [ZN"TRUNL[HM"OUMUSL"UM"cNUL^"\MN]"QM"Q"!)$.1#76052+"7N"VU^Z[" [Z\M"MQW"[ZQ[" [ZN"XPSTNMM"]NMU^LNP"TSL[PUc\[NM"[S"YSPV"Q"RULb"cN[aNNL"[ZN"TRUNL["SP^QLU_Q[USLHM"SONPQRR"OUMUSL"QL]"[ZN"XQP[UTUXQL[HM"ULX\[K"QL]"[ZQ["[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"\MN]"QM"QL"SXXSP[\LU[W"[S"]UMT\MM"UMM\NM"[ZQ["PN^QP]N]"[ZN"SP^QLU_Q[USLHM"M[PQ[N^UT"]UPNT[USL+""

!F?""

]UMTSLLNT[USL" cN[aNNL" [ZN" VNMMQ^NM" MZN" ZQ]" PNTNUON]" [ZPS\^Z" [ZN" SP^QLU_N]"XQP[UTUXQ[USLK" SL" [ZN" SLN" ZQL]K" QL]" [ZN" ]NMU^L" QcM[PQT[USL" UL" [ZN" MbN[TZNM" SY" [ZN"NL[PQLTN"TS\L[NPK"SL"[ZN"S[ZNP+"#Y"aN"PNTQRR"[ZN"<(HM"^NLNPQR"QVcU[USL"SY"MNT\PUL^"[ZN" RULb" cN[aNNL" [ZN" ]NMU^L" SY" [ZN" ZS\MN" QL]" [ZN" XPQT[UTN" U[" aQM" M\XXSMN]" [S"QTTSVVS]Q[NK"*ZQPRS[[NHM"QP^\VNL["MNNVM"[S"cN"[ZQ["[ZNMN"[aS"TSVXSLNL[M"MZS\R]"PNYRNT["SLN"QLS[ZNP+"#["MZS\R]"cN"XSMMUcRN"[S"PNTS^LU_N"[ZN"VNMMQ^N"UL"[ZN"NL[PQLTN"TS\L[NP" QL]" TSLONPMNRWK" [ZQ[" [ZN" N`XPNMMUSL" SY" [ZN" NL[PQLTN" TS\L[NP" MZS\R]" cN"PNYRNT[N]" UL" [ZN" SP^QLU_Q[USLQR" XPQT[UTN+" #L" [ZN" YSRRSaUL^" h\S[Q[USL" YPSV" QL"UL[NPOUNaK" [ZUM" Q[[NL[USL" [S" SP^QLU_Q[USLQR" U]NL[U[WK" [ZPS\^Z" [ZN" VNQLM" SY" QL"QPTZU[NT[\PQR"ScdNT["TSVNM"YSP[Z1""""!=>?%:#,*$%"#$%'*&%&06@"%:$."%6**%"#$%:68%(/%"'%#$0$%=+#$%/',."+%'.%6%+5$"1#?Q%,"%

@'**':$&%"#,+%*,.$%6**%"#$%:68%60'(.&A%M#6"%:$%#6;$%&'.$%.':%,+%"'%",/%,"%,.A%=>?%+'%+"6@@%&'.4"%+"6.&%'.%"#$%'//'+,"$%+,&$%6.&%X*''5%'("4A%3.%"#,+%:689%:$%"$07,.6"$&%"#$%/$""8%'@@,1,6*%,76-$%:$%+'%(.@'0"(.6"$*8%+"0(--*$%:,"#%#$0$A2%"#L" [ZUM" h\S[Q[USL" MZN" NRQcSPQ[NM" SL" [ZN" U]NQ" SY" !'/$..$++2+" 7ZURN" [ZN" SR]"

ONPMUSL" SY" [ZN" MbN[TZNM" MNXQPQ[N]" [ZN" ULMU]N" YPSV" [ZN" S\[MU]NK" [ZN" LNa" ONPMUSL"Nh\QRN]" S\[" [ZN" RNONRM" QL]" MNT\PN]" Q" MSY[NP" [PQLMU[USL" cN[aNNL" [ZSMN" cNZUL]" [ZN"TS\L[NP"QL]"[ZSMN"YQTUL^"U[+"%ZN"XSUL["UM"S\[RULN]"UL"]UQ^PQV"F"cNRSa1""

"3GHIJHK' >" URR\M[PQ[NM" SLN" SY" [ZN" M\cM[QL[UQR" TZQL^NM" [ZQ[" [ZN" MZQXN" SY" [ZN" NL[PQLTN" TS\L[NP" aNL[" [ZPS\^ZK"

ULU[UQ[N]"cW"*ZQPRS[[N+"%ZN"YUPM["]UQ^PQV"PNXPNMNL[M"[ZN"QPTZU[NT[HM"]PQY["SY"[ZN"]NMU^L"SY"[ZN"NL[PQLTN"TS\L[NPK"aZURN"[ZN"MNTSL]"PNXPNMNL[M"[ZN"PNM\R["SY"*ZQPRS[[NHM"ULU[UQ[USL+"2NPNK"[ZN"^PNW"TZQPQT[NPM"PNXPNMNL["[ZN"M[QYY"QL]"[ZN"cRQTb"PNXPNMNL["TRUNL[M+""

""'L" [ZN" cQMUM" SY"*ZQPRS[[NHM" \LYQOSPQcRN" PNQT[USL" [S" [ZN" MZQXN" SY" [ZN" NL[PQLTN"

TS\L[NPK" [ZN" ]NMU^L" XPSTNMM" TSL[UL\N]" [S" ]NONRSXK" PN^QP]RNMM" SY" [ZN" YQT[" [ZQ[" [ZN"]PQY[" aQM" QRPNQ]W" QXXPSON]" cW" VQLQ^NVNL[+" #L" [ZUM" XPSTNMMK" MZN" ]UMT\MMN]" [ZN"

!F,""

MbN[TZNM"QL]"]UQ^PQVM"SY"[ZN"NL[PQLTN"TS\L[NP"QL]"[ZN"PNTNX[USL"QPNQ"aU[Z"OQPUS\M"PNRNOQL[" XNSXRN+" =UPM[" aU[Z" [ZN" <(" QL]" [ZN" XPSdNT[" VQLQ^NP" SY" [ZN" %SaL" 2QRR"XPSdNT[K" LN`[" aU[Z" TSRRNQ^\NM" YPSV" ZNP" SaL" ]NXQP[VNL[K" QL]" YULQRRW" aU[Z" [ZN"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"ULOSRON]"UL"[ZN"XPSdNT[+"-QMN]"SL"[ZNMN"VNN[UL^MK"*ZQPRS[[N"NL]N]"\X"XPSOU]UL^"Q"MbN[TZ"YSP"QL"QR[NPLQ[UON"NL[PQLTN"TS\L[NP+"-QMN]"SL"[ZN" VNN[UL^M" aU[Z" ZNP" M\XNPUSPM" l[ZN" <(" QL]" [ZN" XPSdNT[" VQLQ^NPm" QL]" ZNP"TSRRNQ^\NMK"MZN"NONL[\QRRW"VN["aU[Z" [ZN"QPTZU[NT[M"QL]" [ZN"XPSTNMM"]NMU^LNPM1"!E'%:#6"%:$%&,&%:6+% "'% "08% "'%&06:% ,"%(/% ,.%6%7("(6*%/0'1$++9%:,"#%)'"#%E,-.6*% ="#$%/0'1$++%&$+,-.$0+?%6.&%^\k%="#$%601#,"$1"+?A2""6ZN"N`XRQULM"[ZUM"TSRRQcSPQ[USL"QM"Q"MSVNaZQ["M\PXPUMUL^"N`XNPUNLTN+"7ZURN"[ZN"

QYYURUQ[USL"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"QL]"[ZNUP"]UOUMUSL"SY"RQcSP"aQM"]UM[ULT[UONRW"S\[RULN]"UL"[ZN"XPSdNT["Q["RQP^NK"LSLN"SY"[ZN"XQP[UNM"aNPN"XPNXQPN]"YSP"[ZUM"\LN`XNT[N]"QXXNL]U`K"LS["NL[UPNRW"TRNQP"aZSMN"PNMXSLMUcURU[W"U["aQM1"""!G#$0$% :6+% +'7$% @0,1",'.% ,.% "$07+% '@% :#'% +#'(*&% "65$% '.% "#,+% "6+5% ="#6"%

0$-60&$&%"#$%$."06.1$%1'(."$0?9%6+%"#$%@,<"(0$%:6+%^\k4+%=0$+/'.+,),*,"8?%6.&%"#$%@(0.,"(0$%60'(.&%"#$%1'(."$0%:6+%E,-.6*4+A%3%:6+%"#,.5,.-%X"#0':%7$%l%+5$"1#$+%,.%0$"(0.%="'%78%,./("?%"'%+$$%,@%"#6"%,+%:#6"%3%:6.">%U("%"#6"%&,&.4"%#6//$.A%3%&,&%"#$%&06:,.-%78+$*@9%:,"#%6%@(..8%@$$*,.-%"#,.5,.-%X"#,+%,+%.'"%:#6"%347%$&(16"$&%"'%&'4A%U("%:$%&,&%@,.&%6%+'*(",'.A2""6NONPQR"[ZUL^M"QPN"Q["M[QbN"UL"[ZUM"h\S[Q[USL+"%ZN"XPSYNMMUSLQR"Q]OUMSPM"MNNV"[S"

cN" TSLY\MN]" QM" [S"ZSa" [ZN" MU[\Q[USL" MZS\R]"cN"]NQR["aU[Z+"$S[" QaQPN"SY" ZSa" [ZN"[QMb"MZS\R]"cN"]UOU]N]"cN[aNNL"[ZNVK"QL]"[Z\M"RNQOUL^"[ZN"QT[\QR"]PQaUL^"YSP"[ZN"TRUNL[" PNXPNMNL[Q[UON" ZNPMNRY+" %ZN" MU[\Q[USL" VU^Z[" cN" XNPTNUON]" QM" \LRUbNRWK" QM"QPTZU[NT[M" QPN" [PQ]U[USLQRRW" UL[NPNM[N]" UL" bNNXUL^" [ZN" QPTZU[NT[\PQR" XQP[" SY" Q" TRUNL["QMMU^LVNL["TRSMN"Q["ZQL]+"-\["UL"[ZUM"MU[\Q[USLK"[ZNW"MNNVN]"[S"ZQON"cNNL"\LQaQPN"SY"[ZN"TS]N"SY"TSL]\T[+"#L"QTTSP]QLTN"aU[Z"[ZUM"XSUL[K"*ZQPRS[[N"QRMS"QTbLSaRN]^NM"[ZQ[" MZN" UM" LS[" Q" ]NMU^LNPK" UL" [ZN" RQM[" XQP[" SY" [ZN" h\S[Q[USL+" 2NPNK" MZN" UL]UPNT[RW"PNVQPbM" [ZQ["QR[ZS\^Z" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM" PNh\UPN]" [ZN" M[QYYHM" ULOSRONVNL["UL" TSLONPMQ[USLM" QL]" N`NPTUMNM" [ZQ[" PN^QP]N]" [ZN" MXQ[UQR" QMXNT[" SY" [ZNUP"SP^QLU_Q[USLQR" XPQT[UTNK" [ZNW" QPN" LS[" ]NMU^LNPM" QL]" MZS\R]" LS[" QT[" QM" M\TZ+" -\["cQMN]" SL" [ZN" \LYQVURUQPU[W" SY" [ZN" MU[\Q[USLK" *ZQPRS[[N" NL]M" \X" ]PQaUL^" [ZN" RULNM"ZNPMNRY"UL"[ZUM"XPSTNMM"SY"PN]NMU^LUL^+"""

!FA""

*ZQPRS[[NHM" PNMXSLMN"VU^Z[" [Z\M" cN" MQU]" [S" ZQON" PNM\R[N]" UL" LNa" UL[NPQT[USLMK"[ZPS\^Z"aZUTZ"[ZN"NL[PQLTN"TS\L[NP"aQM"PNLN^S[UQ[N]"QL]"TSLMNh\NL[RW"PN]NMU^LN]+"%ZN"ULTU]NL["MNPONM"QM"Q"XSUL["SY"]NXQP[\PN"[S"]UMT\MM"ZSa"]NMU^LM"NOSRONK"NM[QcRUMZ"QL]"TSL[UL\NK"aZNL"NL]"\MNP"XQP[UTUXQ[USL" UM"cPS\^Z[" UL"QM"Q"VNQLM" [S" ULYSPV"[ZN"]NMU^L"XPSTNMM+"#Y"aN"PNTQRR"[ZN"[ZNMUMH"QMXUPQ[USL"[S"N`XRSPN"[ZN"TRSMNP"RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"QL]"[ZN"SP^QLU_Q[USLQR"]NMU^L"XPSTNMMNMK"aN"VQW"aNRR"XNPTNUON"[ZN"PN]NMU^L"SY"[ZN"NL[PQLTN"TS\L[NP"QM"QL"SXXSP[\LU[W"[S"]S"MS+"2NPNK"[ZN"TSLONPMQ[USLM"cN[aNNL" XNSXRN" UL" [ZN" TRUNL[" SP^QLU_Q[USL" QL]" [ZN" ]ST\VNL[M" [ZQ[" ]NMTPUcN" [ZN"XPSdNT[HM" ^NLNPQR" S\[RULNK" MNPON" QM" XSaNPY\R" ONZUTRNM" [ZQ[" TQL" ULYR\NLTN" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"k"QL]"QRMS"[ZN"QT[\QR"]NMU^L"MSR\[USL+""

,"!-8%#$&8*$%(+*3&*4&8%*#4&$"&+#)3-%#!%&'%(!%'$+"#A,%4+0#&&

#L" [ZN" %SaL"2QRR" XPSdNT[K"aPU[[NL" [N`[MK" XQP[UT\RQP" U]USVQ[UT" XZPQMNM" QL]" QRMS"MbN[TZNM"QL]"]PQaUL^MK"XRQWN]"QL"UVXSP[QL["XQP[+"%ZN"XSUL["aQM"QRMS"URR\M[PQ[N]"UL"MNT[USL"F-K"UL"aZUTZ"[ZN"]ST\VNL[M"[ZQ["S\[RULN]"[ZN"c\UR]UL^"XPSdNT["TQVN"YSP[Z"QM"MSVNaZQ[" UL]UM[ULT[K"aU[Z" PN^QP]M" [S" ]NYULUL^" [ZN" SXNL" SYYUTN" RQWS\[" QM" Q" ]NMU^L"XPNVUMN+".RMS"UL"[ZUM"XPNMNL["MNT[USLK"[ZN"]ST\VNL["VQ[NPUQR"TSL[PUc\[NM"[S"]NMTPUcN"QL]" URR\M[PQ[N" [ZN" MU[\Q[USL+" #L"*ZQPRS[[NHM" M[SPWK" U[" MNNVM" [ZQ[" [ZN"]NTUMUON" YQT[SPK"aZUTZ" TQ[QRW_N]" ZNP" ]UM[ULT[" [PQLMRQ[USL" SY" [ZN" NL[PQLTN" TS\L[NPK" aQM" QL"QPTZU[NT[\PQR" MbN[TZ+" 'L" [ZN" cQMUM" SY" [ZUM" ]ST\VNL[K" MZN" M[QP[M" N`XRSPUL^"SXXSP[\LU[UNM"YSP"VS]UYWUL^"[ZN"]NMU^L"SY"[ZN"NL[PQLTN"TS\L[NP+"'L"[ZUM"dS\PLNW"SY"N`XRSPQ[USLK"MNONPQR"S[ZNP"]ST\VNL[M"aNPN"QT[UONRW"NL^Q^UL^"SL"[ZN"MTNLN+"""#Y"aN"PNTQRR"*ZQPRS[[NHM" PNQT[USL" [S" [ZN"MbN[TZK"MZN"YS\L]" [ZQ[" [ZN"MZQXN"SY" [ZN"

NL[PQLTN" TS\L[NP" N`XRUTU[RW" TS\L[NPQT[N]" [ZN"V\LUTUXQRU[W" Q]VULUM[PQ[USLHM"SONPQRR"QMXUPQ[USLM" SY"aZQ[" [ZN" LNa" [SaL" ZQRR" MZS\R]" TSLONW+" -\[" Q^QULK"aZNPN" ]U]" MZN"XUTb" \X" [ZQ[" [ZN" V\LUTUXQRU[W" Q]VULUM[PQ[USL" QUVN]" !"'% +,-.,@8% '/$..$++2o" .M"VNL[USL" QcSONK" MZN" ZQ]" cNNL" QT[UONRW" ULOSRON]" UL" [ZN" XPSdNT[" QM" Q" M[QYY"PNXPNMNL[Q[UON" MULTN" [ZN" MNTSL]" MNPUNM" SY" aSPbMZSXM" aQM" MN[" YSP[Z+" %ZPS\^Z" ZNP"XQP[UTUXQ[USLK"MZN"ZQ]"UL"OQPUS\M"aQWM"NL^Q^N]"UL"[ZN"N`[NL]N]"N`TZQL^NM"cN[aNNL"VQLQ^NVNL[" QL]" M[QYY" [ZQ[" [SSb" XRQTN" UL" [ZN" XPSdNT[+"2NPNK" [ZN"aPU[[NL" [N`[M" [ZQ["

!BE""

S\[RULN]"QL]"]ST\VNL[N]"[ZN"XPSdNT[HM"XPS^PNMMUSL"VU^Z["cN"MNNL"QM"Q"TNL[PQR"XQP["SY" [ZNMN"N`TZQL^NM+"#L"SP]NP" [S"\L]NPM[QL]"*ZQPRS[[NHM"PNQT[USL"[S" [ZN"MbN[TZNM"SY"[ZN"NL[PQLTN"TS\L[NPK"[ZN"]ST\VNL["VQ[NPUQR"TS\R]"[Z\M"cN"Q"PNRNOQL["XRQTN"[S"RSSb+"""(ST\VNL[M" QL]" [N`[M" ZQON" ULTPNQMUL^RW" cNTSVN" Q" TNL[PQR" VN[ZS]SRS^UTQR"

QXXPSQTZ"[S"M[\]WUL^"]NONRSXVNL["QL]"cNZQOUSP" UL"MSTUQR"TSL[N`["lTY+"*ZQX[NP"Cm+"%ZNW" XRQW" Q" TNL[PQR" PSRN" UL" SP^QLU_Q[USLQR" RUYN" UL" [ZN" MNLMN" [ZQ[" [ZNW" YSPV" QL"UVXSP[QL["aQW"[S"TSVV\LUTQ[NK"OUM\QRU_N"QL]"]UMT\MM"XPS]\T[M"QL]"MNPOUTNM+".RMSK"[ZNW"MU^LUYW"Q"aQW"SY"\LYSR]UL^"SP^QLU_Q[USLQR"XPQT[UTNK"aSPb"XPSTNMMNMK" PS\[ULNM"QL]" PNRQ[USLMZUXM" lN+^+" 6VU[Z" 9EE!m+" #L" SP^QLU_Q[USLQR" RUYNK" QT[USLMK" PNRQ[USLM" QL]"TSVV\LUTQ[USLQR"XQ[[NPLM"QPN"aZQ["6VU[Z"TQRRM"q[N`[\QRRW"VN]UQ[N]r+"6ZN"M\^^NM[M"[ZN"PSRN"[ZQ["[N`[M"QL]"]ST\VNL[M"XRQW"UL"S\P"UL[NPQT[USLM"[S"cN"VQ]N"VSPN"OUMUcRNK"UL"SP]NP"YSP"\M"[S"TSVXPNZNL]"MSTUQR"PNQRU[W"l6VU[Z"!A,;m+"%\PLUL^"[S"MSVN"SY"[ZN"]ST\VNL["VQ[NPUQR" QOQURQcRN" UL" [ZN"%SaL"2QRR" XPSdNT[K"aU[Z"*ZQPRS[[NHM" YST\M"SL"[ZN" XZPQMN" !'/$..$++2" UL" VUL]K" MNONPQR" XS[NL[UQR" ONPMUSLM" SY" [ZN" SP^QLU_Q[USLHM"TNL[PQR"QMXUPQ[USLM"QXXNQP"[S"cN"PNONQRN]+"%ZNPN"UM"Q"XQP[UT\RQP"YST\M"SL"[ZN"VNP^NP"cN[aNNL"[ZN"[aS"V\LUTUXQR"\LU[Mg"SL"[ZN"UVXSP[QLTN"SY"MNT\PUL^"Q"RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"]NMU^L"SY" [ZN"ZS\MN"QL]" [ZN" YSP[ZTSVUL^"SP^QLU_Q[USLQR"XPQT[UTNg"SL"[ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QM" Q" TNL[PQR" ONZUTRN" [S" ULYSPV" [ZN" ]NMU^L" XPSTNMMK" QL]"VSPN+" %ZN" XQP[UT\RQP" [NPV" l!'/$..$++2m" [ZQ[" aQM" \MN]" QM" Q" TNL[PQR" QP^\VNL[" UL"*ZQPRS[[NHM"ScdNT[USLK"UM"QRMS"QXXQPNL["UL"MSVN"SY"[ZN"[N`[M+"#["TSVNM"YSP[Z"[ZPS\^Z"N`XPNMMUSLM" RUbN" qSXNLrK" q]UQRS^\Nr" SP" q]UQRS^\NDSPUNL[N]rK" c\[" XNPZQXM" VSPN"UVXSP[QL[RWK" U[" MNNVM" [S" cN" ULTR\]N]" UL" Q" L\VcNP" SY"VSPN" M\cM[QL[UQR" QMXUPQ[USLM"[ZQ["[ZN"XPSdNT["MNNVN]"[S"ZSR]+"2NPNK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QPN"TNL[PQRK"QM"XQP["SY"[ZN"V\LUTUXQRU[WHM"Q[[NVX["[S"Q"]UQRS^\NDSPUNL[N]"QXXPSQTZ+"%ZNMN"aNPN"PN^QP]N]"QL"UL[N^PQ[N]"XQP["SY"[ZN"]NMU^L"XPSTNMM"QL]"Q"cQTbcSLN"YSP"[ZN"XPSdNT["YSP"M[PQ[N^UT"PNQMSLMK"UL"SP]NP"[S"\L]NP[QbN"QL]"UVXRNVNL["[ZN"VNP^NP+"-QMN]"SL"SXNL"]UQRS^\N"MNMMUSLM" QL]" MNNL" QM" Q" M[PQ[N^UT" ONZUTRNK" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QXXNQP"PNXNQ[N]RW"UL"[ZN"]ST\VNL["VQ[NPUQRK"QL]"VU^Z["[Z\M"cN"MQU]"[S"M\XXSP["*ZQPRS[[NHM"QP^\VNL[M+"#Y"aN"N`XRSPN"[ZN"VQ[NPUQR"SONP"[UVNK"Q"]ST\VNL["YPSV"9EEF"MNNVM"[S"UL]UTQ[N" [ZQ[" [ZQ[" VQLQ^NVNL[" QTbLSaRN]^N]" [ZN" NL]" \MNP" XQP[UTUXQ[USL" QM" Q"XS[NL[UQR"SXXSP[\LU[W"[S"\L]NP[QbN"TNP[QUL"SP^QLU_Q[USLQR"TZQL^NMK"aU[Z"PNYNPNLTN"[S"[ZN"VNP^NP1"""!G#$%=>?%76.6-$7$."%"$67%6,7+%"'%61",;$*8%(+$%"#$%"':.%#6**%/0'F$1"%)'"#%6+%

6.% ,."$-06"$&% @067$:'05% "'% +(//'0"% /0'@$++,'.6*L+'1,6*% ,."$061",'.% ,.% "#$% :'05%

!B!""

/0'1$++$+9% 6.&% 6+% 6% 76.6-$7$."% "''*% "'% $7/#6+,B$% "#$% '0-6.,B6",'.4+% ;6*($+9%,.1*(&,.-% 6.% '/$.% 6.&% &,6*'-($N'0,$."$&% 6//0'61#% "'% 1'**6)'06",'.9% /0')*$7%+'*;,.-%6.&%1'.@*,1"%76.6-$7$."A2"""""<SOUL^"SL"[S"9EEBK"[ZN"VQLQ^NVNL["[NQV"XPNMNL[N]"QL"N`[NL]N]"XPSXSMQR"YSP"

[ZN" SP^QLU_Q[USLQR" PNM[P\T[\PN+" 2NPNK" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" MNNV" [S" XRQW" Q"MU^LUYUTQL["PSRN"UL"]NYULUL^"[ZN"UVXRNVNL[Q[USL"SY"[ZN"VNP^NP1"""!G#$% ,.;'*;$7$."% '@% "#$% +"6@@% ,+% +$$.% 6+% /60",1(*60*8% ,7/'0"6."% "'% "#$%

&$;$*'/7$."%'@%"#$%.$:%'0-6.,B6",'.%=>?%G#$%.$:%"':.%#6**%:,**%)$%61",;$*8%(+$&%,.% '0&$0% "'% +(//'0"% 6% #'*,+",1% 6//0'61#9% "#0'(-#% "#$% /#8+,16*% *68'("9% @'1(+$&%1'77(.,16",'.9%5.':*$&-$%+#60,.-%6.&%$<1#6.-$%'@%$</$0,$.1$A2%%""""=ULQRRW"UL"9EE?K"[ZN"N`[NL]N]"^PS\X"SY"[SXD"QL]"VU]]RN"VQLQ^NPM"]UPNT[RW"XSUL[M"

S\[" NL]" \MNP" XQP[UTUXQ[USL" QM" Q" VNQLM" [S" NLM\PN" TSZNPNLTN" cN[aNNL" XPSTNMMNMK"XPS]\T[M"QL]"XZWMUTQR"YPQVNaSPb1"""!E"6@@% 60$% ,.;,"$&% "'% /60",1,/6"$% 6+% 1'N1'."0,)("'0+% ,.% '0&$0% "'% +$1(0$% "#$%

1'..$1",'.%)$":$$.%"#$%@'0"#1'7,.-%,."$0,'0%&$+,-.%6.&%"#$%/061",1$%"#6"%"#$%.$:%#'(+$%,+%$</$1"$&%"'%611'77'&6"$A2"""#L"[ZNMN"MQVXRNM"YPSV"[ZN"]ST\VNL["VQ[NPUQRK"U["LS["SLRW"QXXNQPM"[ZQ["[ZN"M[QYY"

^N["VSPN"QT[UONRW"ULOSRON]"UL"[ZN"]NONRSXVNL["SY"[ZN"XPSdNT[K"YPSV"!6.%'/$.%6.&%&,6*'-($N'0,$."$&% 6//0'61#2" UL" 9EEFK" [S" QL" ULOU[Q[USL" QM" !1'N1'."0,)("'0+2" UL"9EE?+" .RMSK" !G#$% ,.;'*;$7$."% '@% "#$% +"6@@2" UM" MNNL" QM" QL" UVXSP[QL[" XQP[" SY"UVXRNVNL[UL^"[ZN"VNP^NPK"aZURN"[ZN"c\UR]UL^"UM"MNNL"QM"Q"aQW"[S"MNT\PN"!6%#'*,+",1%6//0'61#2K" aZUTZ" ULTR\]NM" M[PQ[N^UT" SP^QLU_Q[USLQR" UMM\NM" M\TZ" QM" !@'1(+$&%1'77(.,16",'.2"QL]"!5.':*$&-$%+#60,.-2l9EEBm+"%ZNMN"]ST\VNL[M"aNPN"X\cRUTRW"QOQURQcRN" [S" [ZN" M[QYY" QL]" [Z\M" [S" *ZQPRS[[NK" aZS" VU^Z[" lTSLMTUS\MRW" SP"\LTSLMTUS\MRWm"ZQON"\MN]"[ZNV"QM"Q"PNYNPNLTN"[S"YSPV"QL]"M\XXSP["ZNP"ScdNT[USL"[S"[ZN" MbN[TZNM" SY" [ZN" NL[PQLTN" TS\L[NP+" -W" NVXZQMU_UL^" ZSa" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM"QPN"N`XNT[N]"[S"XRQW"QL"QT[UON"XQP[" UL"[ZN"XPSdNT[K"aN"VU^Z["MQW"[ZQ[" [ZN"]ST\VNL[M"QPN"QT[UON"XRQWNPM"UL"[ZN"MSTUQR"UL[NPQT[USL"cN[aNNL"[ZN"VQLQ^NVNL["QL]"[ZN"M[QYY"l<UbD<NWNP"9EEFm+".M"aURR"cN"]UMT\MMN]"cNRSaK"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZNMN" QT[UON" XRQWNPM" l[ZN" ]ST\VNL[MK" [ZN" <(K" *ZQPRS[[NK" [ZN" MbN[TZK" QL]" VSPNm"

!B9""

VU^Z["cN"MQU]"[S"YSPV"LN[aSPbM"SY"TSVXSLNL[M"[ZQ[K"UL"OQPUS\M"aQWMK"UL[NPQT["QL]"\L]NP^S"TZQL^NM"lJ\M[NMNL"9EEFm+"""

!2*(3"$$%>4&$(*#43*$+"#&")&$2%&4/%$!21&"'%#&=4B&!3"4%,&&

.M" VNL[USLN]" UL" [ZN" XQPQ^PQXZ" QcSONK" [ZN" ]ST\VNL[" VQ[NPUQR" MZS\R]" cN"TSLMU]NPN]"UL"PNRQ[USL"[S"[ZN"TSL[N`[K"UL"aZUTZ"[ZNW"QXXNQP+"#L"[ZN"YSRRSaUL^K"#"aURR"[Z\M"N`XRSPN"*ZQPRS[[NHM"ScdNT[USL"UL"VSPN"]N[QURK"QM"SLN"XQP[UT\RQP"[PQLMRQ[USL"SY"QL"SP^QLU_Q[USLQR"QMXUPQ[USL+"""*SLMU]NPUL^" [ZN" XZPQMN" l!'/$..$++2mK" U[" UM" LS[" ScOUS\M" aZQ[" U[" VNQLM+"

*ZQPRS[[NHM"[PQLMRQ[USL"PNYNPM"[S"[ZN"TSL[N`["UL"aZUTZ"U["QXXNQPM"QL]"[ZN"PNYNPNLTNM"[ZQ["MZN"PNXPNMNL[M+"#["UM"SL"[ZUM"cQMUM"MZN"^UONM"[ZN"[NPV"U[M"VNQLUL^+"2NP"\MN"SY"[ZN"]ST\VNL[M"VU^Z["[Z\M"cN"MQU]"[S"cN"MU[\Q[N]K"PQ[ZNP"[ZQL"YU`Q[N]"l4PUSP"9EECm+"#L"[ZN"QT[\QR" MU[\Q[USLK" MZN" ZQ]" cNNL" QaQW" SL"VQ[NPLU[W" RNQON" YSP" LULN"VSL[ZM+"(\PUL^"[ZUM" [UVNK" MZN" ZQ]" LS[" cNNL" UL" [S\TZ"aU[Z" [ZN" XPSdNT[+"7ZNL" MZN" PN[\PLN]" [S" [ZN"YUNR]K"MZN"PN[\PLN]"SL"[ZN"cQMUM"SY"ZSa"MZN"ZQ]"RNY["U[K"QL]"ZNP"[PQLMRQ[USL"aQM"cQMN]"SL" [ZN" S\[RULNM" QL]" ]NMTPUX[USLM" QM" MZN" PNVNVcNPN]" [ZNV" LULN" VSL[ZM" NQPRUNP+"*ZQPRS[[NHM"M[SPW"[ZNPNcW"URR\M[PQ[NM"Q"[PQLMRQ[USL"[ZQ["aQM"LNTNMMQPURW"ULYSPVQR"QL]"XSMMUcRW"ScMSRN[N+"-QMN]"SL"ZNP"N`XNPUNLTN"XPUSP"[S"ZNP"RNQON"SY"QcMNLTNK"MZN"ZNR]"TNP[QUL" XSUL[M" SY" PNYNPNLTN" lYSP" N`QVXRN" [ZN" Q[[NVX[" !"'% +,-.,@8% '/$..$++2m" [S"PNXPNMNL[" SLN" SY" [ZN" XPSdNT[HM" SONPQRR" QMXUPQ[USLM+" #L" [ZN" NLTS\L[NP" cN[aNNL" [ZN"QOQURQcRN"MbN[TZNM"QL]"ZNP" PNQ]UL^M"SY"aZQ[" [ZNW"VNQL[K" [ZUM" PNYNPNLTN"MNNVN]"[S"TSRRQXMN+".L]"SL"[ZN"cQMUM"SY"[ZUM"TSRRQXMNK"MZN"ULU[UQ[N]"[ZN"XPSTNMM"SY"PN]NMU^LUL^+""

)H!&45!@QPR6>;A!P59:;:8!6G!6?5:!

*ZQPRS[[N" M\TTNN]N]" UL" TQPPWUL^"ZNP" [PQLMRQ[USL" [ZPS\^Z" [S" YSPV"Q" PN]NMU^L"SY"[ZN"NL[PQLTN"TS\L[NP+".M"aURR"cN"S\[RULN]"UL"[ZN"]UMT\MMUSL"cNRSaK"MZN"cNTQVN"[ZN"qMXSbNMVQLr"SY"SLN"XQP[UT\RQP"OUNaXSUL["lN+^+"*QRRSL"!A,Bm1"[ZQ["[ZN"MZQXN"SY"[ZN"NL[PQLTN"TS\L[NP"TS\R]"cN"TZQPQT[NPU_N]"QM"nTRSMN]H"QL]"[Z\M"QM"]UMQ]OQL[Q^NS\M"UL"PN^QP]M" [S" [ZN" SP^QLU_Q[USLHM" QMXUPQ[USL" !"'% +,-.,@8% '/$..$++2+" #L" SLN" SY" [ZN"

!BC""

h\S[Q[USLM"QcSON"MZN"XPSTRQUVM"[ZQ["!"#,+%+,7/*8%&'$+.4"%+(//'0"%:#6"%:$%:6."2K"[ZQ[" UMK" aZQ[" [ZN" V\LUTUXQR" Q]VULUM[PQ[USL"aQL[N]" [S" PNXPNMNL[" QM" QL" ULM[U[\[USL+"2NPNK" *ZQPRS[[N" PNXPNMNL[M" c\[" SLN" [PQLMRQ[USL" SY" [ZN" MbN[TZ+" =PSV" Q" ]UYYNPNL["OUNaXSUL[K"ZNP"PNQ]UL^"VU^Z["ZQON"cNNL"XNPTNUON]"QM"Q"TSLONL[USLQR"[PQLMRQ[USL"SY"[ZUM"XQP[UT\RQP"]NMU^L"PNXPNMNL[Q[USL1"[ZN"\L]NPM[QL]UL^"SY"QL"NL[PQLTN"TS\L[NP"QM"Q"MWVcSR"SY"]UM[QLTNK"XPS[NT[USL"QL]"N`TR\MUSL+"6ZN"URR\M[PQ[NM"ZNP"M[QL]XSUL["UL"SLN"SY"[ZN"UL[NPOUNa"h\S[Q[USLM"QRMS"XPNMNL[N]"QcSON1"""!=>?%:#,*$%"#$%'*&%&06@"%:$."%6**%"#$%:68%(/%"'%#$0$%=+#$%/',."+%'.%6%+5$"1#?Q%,"%

@'**':$&%"#,+%*,.$%6**%"#$%:68%60'(.&A%M#6"%:$%#6;$%&'.$%.':%,+%"'%",/%,"%,.A%=>?%+'%+"6@@%&'.4"%+"6.&%'.%"#$%'//'+,"$%+,&$%6.&%X*''5%'("4A%3.%"#,+%:689%:$%"$07,.6"$&%"#$%/$""8%'@@,1,6*%,76-$%:$%+'%(.@'0"(.6"$*8%+"0(--*$%:,"#%#$0$A2%"&NTQRRUL^" ]UQ^PQV"F" [ZQ[" URR\M[PQ[N]" [ZN" [aS" ONPMUSLM" SY" [ZN" NL[PQLTN" TS\L[NPK"

ZNP" XNPTNX[USL" VU^Z[" cN" cQMN]" SL" [ZN" YSRRSaUL^" QP^\VNL[1" %S" VQLW" XNSXRN" UL"aNM[NPL"T\R[\PNMK"[ZN"UL[NPXPN[Q[USL"SY"Q"MNPOUTN"QMMUM[QL["SP"PNTNX[USLUM["QM"[ZQ["SY"Q"X/$""8% '@@,1,6*4" UM" LN^Q[UONRW" TZQP^N]+" 2NPNK" Q" X/$""8% '@@,1,6*4" aS\R]" cN" SLN" aZS"M\M[QULM"Q"]UM[ULT["]UM[QLTN"cN[aNNL"[ZN"TRNPb"QL]"[ZN"TRUNL[+"-\["UY"aN"TSLMU]NP"[ZN"Y\LT[USLM" SY" QL" NL[PQLTN" TS\L[NP" SLTN"VSPNK"aN" TQL" NQMURW" TSVN" [S" [ZULb" SY" [ZN"MNONPQR"X\PXSMNM"[ZQ["M\TZ"QL"ScdNT["MNPONM1".M"Q"XQMMQ^N"XSUL["[S"XPSOU]N"TRUNL[M"QL]"^\NM[M"aU[Z"ULYSPVQ[USL"QL]"MNPOUTNM"UL"SP]NP"[S"QTTSVVS]Q[N"[ZNUP"XQP[UT\RQP"c\MULNMM"TSLTNPL"UL"YSP"N`QVXRN"Q"[SaL"ZQRRg"QM"Q"XZWMUTQR"]UM[QLTN"cN[aNNL"M[QYY"QL]"TRUNL["[ZQ["TQL"MNPON"QM"XPS[NT[USL"SP"MNT\PU[Wg"QM"Q"[QcRN"\XSL"aZUTZ"cQ^M"QL]"S[ZNP"cNRSL^UL^M"TQL"PNM["aZURN"[ZN"TRUNL["UM"cNUL^"QMMUM[N]K"d\M["[S"VNL[USL"Q"YNa+"#Y"aN" ]U]LH[" ZQON" U[K"aN"aS\R]" LNN]" [S" TSLMU]NP" S[ZNP"aQWM" [S" QTTSVVS]Q[N" [ZNMN"Y\LT[USLM+" %ZN" NL[PQLTN" TS\L[NP" ]NVQPTQ[NM" Q" ^QX" cN[aNNL" MSVN[ZUL^" QL]"MSVN[ZUL^"NRMN+"#["]UMMSTUQ[NM"QL]"]UMdSUL[Mg"Q"XSUL["[ZQ["VU^Z["MNPON"QM"QL"QP^\VNL["UL"*ZQPRS[[NHM"[PQLMRQ[USL"SY"[ZN"MbN[TZ+"#L"SP]NP"[S"QTTS\L["YSP"[ZN"SONPQRR"X\PXSMN"SY"QL"NL[PQLTN"TS\L[NPK"[ZN"LS[USL"SY"nSXNLH"MNNVM"[S"PNh\UPN"[ZN"SXXSMU[N"TSL]U[USL"SY"nTRSMN]H+"""7U[Z"[ZUM"UL"VUL]K"#"[\PL"[S"[ZN"YUNR]"SY"^NS^PQXZWK"UL"SP]NP"[S"\L]NPM[QL]"VSPN"

QcS\["aZW"aN"VU^Z["XNPTNUON"[ZN"NL[PQLTN"TS\L[NP"UL"[ZUM"aQW+"%\QL"l!A??m"SYYNPM"QL"N`XRQLQ[USL"SY"[ZN"TSLTNX["SY"nSXNLH"UL"QMMSTUQ[USL"[S"XZWMUTQR"MXQTN1"q6XQTN"UM"Q"TSVVSL"MWVcSR"SY" YPNN]SV"UL" [ZN"7NM[NPL"aSPR]+"6XQTN" RUNM"SXNLg" U["M\^^NM[M"[ZN"Y\[\PN"QL]"ULOU[NM"QT[USL+"'L"[ZN"LN^Q[UON"MU]NK"MXQTN"QL]"YPNN]SV"QPN"Q"[ZPNQ[+"

!B;""

."PSS["VNQLUL^"SY"[ZN"aSP]"ncQ]H"UM"nSXNLH+"%S"cN"SXNL"QL]"YPNN"UM"[S"cN"N`XSMN]"QL]" O\RLNPQcRN+"'XNL" MXQTN" ZQM" LS" [PS]]NL" XQ[ZM" QL]" MU^LXSM[M+" #[" ZQM" LS" YU`N]"XQ[[NPL"SY"NM[QcRUMZN]"Z\VQL"VNQLUL^g" U[" UM" RUbN"Q"cRQLb"MZNN["SL"aZUTZ"VNQLUL^"VQW" cN" UVXSMN]r" l%\QL" !A??1" F;m+" %ZUM" h\S[Q[USL" XPSOU]NM" QL" SXXSP[\LU[W" [S"TSLMU]NP" Q" XS[NL[UQR" XQPQ]S`" [ZQ[" *ZQPRS[[NHM" [PQLMRQ[USL" SY" [ZN" MbN[TZ" SY" [ZN"NL[PQLTN" TS\L[NP" MNNVM" [S" ZSR]+" .M" #" URR\M[PQ[N]" QL]" ]UMT\MMN]" UL" MNT[USL" F-K" Q"XPN]SVULQL[" ]NcQ[N" UL" [ZN" XPSdNT[" ZQM" cNNL" [ZN" SXNL" SYYUTN" RQWS\[+" 2NPNK" M[QYY"VNVcNPM"ZQON"cNNL"N`TNN]UL^RW"aSPPUN]"QcS\["[ZN"UVXRUTQ[USLM"[ZQ["[ZUM"XZWMUTQR"M[P\T[\PN" VU^Z[" UVXRW" SL" [ZNUP" aSPb" XPQT[UTN+" .VSL^" [ZN" XPUVQPW" YNQPM" QPN"TSLTNL[PQ[USL" ULM\YYUTUNLTWK"LSUMN"QL]" [PQLMXQPNLTWK"TQ\MN]"cW"Q"PN]\TN]" RNONR"SY"]UOUMUSL" QL]" QL" ULTPNQMN]" XPSMXNT[" SY" XPS`UVU[W+" %ZN" LS[USL" SY" nSXNLH" [Z\M"PNXPNMNL[M"Q"XS[NL[UQR"[ZPNQ["[S"[ZN"XQP[UNM"ULOSRON]K"[PQLMRQ[N]"QRSL^"[ZN"RULNM"[ZQ["%\QL"MNNVM"[S"UL]UTQ[N"UL"[ZN"h\S[Q[USL"QcSON+"#L"[ZUM"aQWK"aN"VU^Z["MQW"[ZQ["[ZN"LS[USL"SY"nSXNLH"LNN]M"[S"cN"XNPTNUON]"QL]"]UMT\MMN]"NVcN]]N]"UL"QL]"UL"cQRQLTN"aU[Z" U[M" TS\L[NPXQP[+" %S" UL[PS]\TN" nSXNLH" QM" Q" aQW" SY" aSPbUL^" SP" Q" ^NLNPQR"QMXUPQ[USLK" ]NVQL]M" MSVN" RNONR" SY" TRSM\PNK" \XSL"aZUTZ" [ZN" LS[USL" SY" nSXNLH" TQL"YUL]"U[M"M[P\T[\PN"QL]"Y\LT[USL+"""5SSbUL^"Q["[ZN"XZWMUTQR"MXQTN"[ZQ["TSLM[U[\[NM"[ZN"[SaL"ZQRRHM"PNTNX[USL"QPNQ"QM"

U[" TSVNM" YSP[Z" UL" [ZN" YULUMZN]" c\UR]UL^" [S]QWK" [ZN" NLOUPSLVNL[" TQL" UL]NN]" cN"TZQPQT[NPU_N]"QM"SXNL+"-\["U["QRMS"ULTR\]NM"Q"L\VcNP"SY"]NVQPTQ[USLM"[S"NVXZQMU_N"[ZN" OQPUS\M" Y\LT[USLM" [ZQ[" [ZN" ZS\MN" QTTSVVS]Q[NM1" TNP[QUL" YRSSP" VQ[NPUQRM" lN+^+"aSS]"OM+" M[SLNm" [ZQ["VQPb" [ZN"cS\L]QPW"cN[aNNL" [ZN" M[QYYHM" QPNQ"QL]" [ZN"TRUNL[HM"QPNQg"XQP[UT\RQP" Y\PLU[\PN" [ZQ["]UM[UL^\UMZNM" [ZN"aQU[UL^" RULNg"Q" MU^LUYUTQL["cQLUM[NP"SL" [ZN" YUPM[" QL]" MNTSL]" YRSSPM" lOUMUcRN" YPSV" [ZN" PNTNX[USLm" [ZQ[" XPNONL[" Y\RR"[PQLMXQPNLTW"cN[aNNL"XQP[UT\RQP"M[QYY"^PS\XM"QL]"N`[NPLQR"OUMU[SPMK"LS["[S"YSP^N["[ZN"NL[PQLTN"TS\L[NP"U[MNRY+"3ONL"QY[NP"[ZN"PN]NMU^LK"[ZN"NL[PQLTN"TS\L[NP"M[URR"VQPbM"Q"M\cM[QL[UQR"XQP[U[USL"cN[aNNL"[ZN"M[QYY"QL]"[ZN"TRUNL[+"""

OH!&45!97A4;=5A=^@!B57@;6:!6G!=45!a6?5:^!5:=79:A5!A6C:=57!

2Sa"]U]" [ZN"QPTZU[NT[" [PQLMRQ[N" [ZN"LS[USL"SY" nSXNLH"QM"SXXSMN]" [S" nTRSMN]H" UL"[ZUM"XQP[UT\RQP"TSL[N`[o"#L"QL"UL[NPOUNaK"SLN"SY"[ZN"QPTZU[NT[M"ULOSRON]"UL"[ZN"XPSdNT["PNTQRRM" [ZNUP" ULU[UQR" ]PQY[M" SY" [ZN" NL[PQLTN" TS\L[NPK" cQMN]" SL" [ZN" cPUNY" SY"PNh\UPNVNL[M"[ZQ["ULU[UQ[N]"[ZN"QPTZU[NT[\PQR"TSVXN[U[USL1""%

!BF""

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h\S[Q[USL" X\[M" *ZQPRS[[NHM" [PQLMRQ[USL" UL[S" XNPMXNT[UON+" %ZN" QPTZU[NT["

UL]UTQ[NM"[ZQ["[ZN"NQPRW"M[Q^NM"SY"[ZN"XPSdNT["XPSOU]N]"SPU^ULQR"]PQY[M"SY"[ZN"NL[PQLTN"TS\L[NP"[ZQ["aQMK"UL"Q"TSLONL[USLQR"VQLLNPK"MU^LUYUTQL[RW"VSPN"nSXNLH"[ZQL"[ZN"YULQR"ONPMUSLK"ULU[UQ[N]"cW"*ZQPRS[[N+"(UQ^PQV"B"cNRSa"URR\M[PQ[NM"MSVN"SY"[ZN"TZQL^NM"[ZN"TS\L[NP" aNL[" [ZPS\^Z+" 2NPNK" [ZN" ]UQ^PQV" [S" [ZN" RNY[" MZSaM" [ZN" ]NMU^L" SY" [ZN"NL[PQLTN"TS\L[NP"QM"aZQ["[ZN"QPTZU[NT["QcSON"TZQPQT[NPU_NM"QM"!6%+$0/$.",.$2"SP"!6%0$&%*,.$2+"%ZN"ONPMUSL"UL"[ZN"VU]]RN"PNXPNMNL[M"[ZN"VS]UYUN]"ONPMUSL"[ZQ["*ZQPRS[[N"XNPTNUON]"QM"n[SS"TRSMN]H"QL]"MU^LUYWUL^"QL"\LYSP[\LQ[N"UVQ^N+"=ULQRRWK"[ZN"]UQ^PQV"[S"[ZN"PU^Z["URR\M[PQ[NM"[ZN"NL[PQLTN"TS\L[NP"QY[NP"[ZN"Q]]U[USLQR"TZQL^NMK"ULU[UQ[N]"cW"*ZQPRS[[N+"

"3GHIJHK')" MZSaM" [ZPNN"]UYYNPNL["ONPMUSLM"SY" [ZN"NL[PQLTN"TS\L[NP+".^QULK" [ZN"^PNW"TZQPQT[NPM" PNXPNMNL[" M[QYY"

aZURN"[ZN"cRQTb"PNXPNMNL["[ZN"TRUNL[M+"""

""-\[" ]\N" [S" MNT\PU[W" PNh\UPNVNL[M" UL" TSL[NVXSPQPW" X\cRUT" c\UR]UL^M" U[" cNTQVN"

LNTNMMQPW"[S"VQUL[QUL"[ZN"[PQ]U[USLQR"cSP]NPM"cN[aNNL"[ZN"TRNPbM"QL]"[ZN"TRUNL[M"UL"[ZN"V\LUTUXQRU[W" [SaL"ZQRR+" #L" [ZN" h\S[Q[USL" QcSONK" [ZN" QPTZU[NT[" QTbLSaRN]^NM" Q"

!BB""

TNL[PQR"TZQRRNL^N"[ZQ["X\cRUT"MNPOUTN"ULM[U[\[USLM"ULTPNQMUL^RW"M[P\^^RN"aU[ZK"[ZQ["SY"MNT\PU[W+"-\["ZN"QRMS" UL]UTQ[NM" [ZQ["X\cRUT"SP^QLU_Q[USLM"VU^Z["LNN]" [S" PNTSLMU]NP"[ZNUP"QXXPSQTZ"[S"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"]UYYNPNL["XRQWNPM"aZS"UL[NPQT["UL"QL]"aU[Z"[ZN"c\UR]UL^+"5Q[NP"UL"[ZN"MQVN"UL[NPOUNa"ZN"PNVQPbM1"%2=W?'(% 7,-#"% 6*+'% ,76-,.$% "#$% 1'."$7/'0608% '@@,1$% )(,*&,.-9% *,5$% /()*,1%

)(,*&,.-+>)8%765,.-%"#$7%6""061",;$%"'%"#$%1,",B$.A%3"%7,-#"%10$6"$%6%7'0$%#$6*"#8%&,6*'-($A%3%(.&$0+"6.&%#$0%=D#60*'""$4+?%1'.1$0.9%)("%"#6"4+%)$16(+$%+#$%O%F(+"%*,5$%6%"06&,",'.6*%601#,"$1"9%:#'%:6."+%"'%#6;$%,"%;$08%&,+",.1"*8%'("*,.$&%O%#6&%6.%,&$6%:,"#%"#,+9%6.&%,.%#$0%/$0+/$1",;$9%'.*8%'.$%;$0+,'.%:'(*&%&'A2%%%%2NPNK"ZN"XSUL[M"S\["Q"cU["SY"[ZN"TSVXRN`U[W"[ZQ["]NMU^L"VQ[[NPM"MNNV"[S"ULTR\]N+"

#L" SLN" [PQLMRQ[USL" SY" [ZN" UMM\NK" ]NMU^L" VU^Z[" cN" MQU]" [S" cN" XNPTNUON]" QL]"TSVXPNZNL]N]" SL" Q" TS^LU[UON" RNONR+" #L" [ZUM" XNPMXNT[UONK" U[M" VNQLUL^" cNTSVNM"TSL[N`[\QR" QL]" XNPMSLQR+" 7ZNL" *ZQPRS[[N" [PQLMRQ[NM" [ZN" MZQXN" SY" [ZN" NL[PQLTN"TS\L[NP" QM" cNUL^" nTRSMN]HK" MSVNSLN" NRMN" UM" RUbNRW" [S"VQbN" Q" ]UYYNPNL[" [PQLMRQ[USL+"7ZQ[" [ZN"QPTZU[NT[" UL]UTQ[NM" UL" [ZN"h\S[Q[USL"QcSON" UM" [ZQ[" [ZN"LS[USL"SY"SLRW"SLN%XQP[UT\RQP" ONPMUSL"VU^Z[" MNNV"S\[]Q[N]+"2NPNK" U[" MNNVM" TNL[PQR" [S" NVXZQMU_N" [ZQ["[ZN" \L]NPM[QL]UL^" SY" nSXNLH" SP" nTRSMN]H" UM" LS[" MSVN[ZUL^" [ZQ[" TQL" cN" [QbNL" YSP"^PQL[N]+"#["]NXNL]M"\XSL"[ZN"XNPMXNT[UONK"[ZN"OUNaXSUL["SP"TSL[N`[K"aZUTZ"YSPVM"QM"[ZN"XSUL["SY"PNYNPNLTN"UL"[ZN"^UONL"MU[\Q[USL+"#L"[ZN"M[SPW"SY"[ZN"NL[PQLTN"TS\L[NP"UL"[ZN"%SaL"2QRR"XPSdNT[K"U["aQM"*ZQPRS[[NHM"XQP[UT\RQP"[PQLMRQ[USL"[ZQ["X\RRN]"[ZPS\^Z+"*ZQPRS[[N"cNTQVN"[ZN"MXSbNMVQL"YSP"Q"TNP[QUL"OUNaXSUL["[ZQ["TQVN"[S"PNXPNMNL["[ZN"SP^QLU_Q[USL"Q["RQP^N+"-NRSaK"#"aURR"N`XRSPN"ZSa"MZN"^QULN]"M\TZ"MXSbNMVQLDMZUX+"-QMN]"SL"[ZN"VScURU_Q[USL"SY"Q"TSVXRN`"LN[aSPb"SY"QT[SPM"[ZQ["MNNVN]"[S"M\XXSP["QL]" [ZNPNcW" M[QcURU_N" ZNP" [PQLMRQ[USL" lSY" [ZN" MbN[TZmK" ZNP" OUNaXSUL[" TPNQ[N]" [ZN"LNTNMMQPW"M[PNL^[Z"YSP"[ZN"MbN[TZ"[S"^N["PN]NMU^LN]+"'

TH!"497>6==5!9@!@?6L5@P9:*!RC;>M;:8!@=75:8=4!=6!6R=9;:!9!

75M5@;8:!!

7ZNL"*ZQPRS[[N"YS\L]"U["QXXPSXPUQ[N"QL]"LNTNMMQPW"[S"ScdNT["[S"[ZN"]NMU^L"SY"[ZN"NL[PQLTN"TS\L[NPK"[ZN"NVXUPUTQR"VQ[NPUQR"MZSaM"[ZQ["[ZN"\LU["MZN"MXSbN"SL"cNZQRY"SY"aQM" [ZN"SP^QLU_Q[USL+"-QMN]"SL"ZNP" [PQLMRQ[USL"SY"QL"SONPQRR" ULM[U[\[USLQR"X\PXSMN"l!"'%+,-.,@8%'/$..$++2%QL]"!6%+$.+$%'@%1'77(.,"82m"MZN" ULU[UQ[N]"Q"PNLN^S[UQ[USL"

!B?""

SY"[ZUM"XQP[UT\RQP"QPTZU[NT[\PQR"ScdNT[+"#L"[ZUM"XPSTNMM"MZN"cNTQVN"Q"MXSbNMVQLK"aZS"UM"MSVNSLN"[ZQ["TQL"MXNQb"SL"cNZQRY"SY"S[ZNPM"k"UL"[ZUM"TQMN"Q"M\cM[QL[UQR"^PS\X"SY"TSRRNQ^\NM"QL]"S[ZNP"YSP[ZTSVUL^"\MNPM"SY"[ZN"[SaL"ZQRR+"""-NZUL]"*ZQPRS[[NHM"QcURU[W"[S"QT["QM"Q"MXSbNMVQL"[ZNPN"UM"Q"V\R[U[\]N"SY"QT[SPM"

[ZQ[" TSLM[U[\[N" [ZN" LN[aSPb" [ZQ[" ^UONM" ZNP" QP^\VNL[" U[M" M[PNL^[Z+"7ZNL" MZN" YUPM["ScdNT[N]"[S"[ZN"MbN[TZ"SY"[ZN"NL[PQLTN"TS\L[NPK"Q"RSL^"TZQUL"SY"NONL[M"aNPN"M[QP[N]K"\XSL"aZUTZ"MZN"TS\R]"c\UR]"ZNP"TQMNK"QTTSP]UL^RW1"=UPM[K"MZN" RSSbN]"Q[" [ZN"MbN[TZ"QL]"PNTQRRN]"[ZN"VQLW"]ST\VNL[M"QL]"4SaNP4SUL["XPNMNL[Q[USLM"[ZQ["]NMTPUcN]"[ZN"XPSdNT[1" [ZN" TSLONPMQ[USLM" MZN" ZQ]" NL^Q^N]" ULK" UL" [ZN" TS\PMN" SY" [ZN" XQP[UTUXQ[USL"QT[UOU[UNMK"QL]"VSPN+"6ZN"[ZNL"[QRbN]"[S"[ZN"<("QL]"MSVN"SY"ZNP"TSRRNQ^\NMK"QL]"SL"[ZQ["cQMUM"MZN"NL^Q^N]"aU[Z"[ZN"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNP+"#L"[ZUM"XPSTNMMK"MZN"]UMT\MMN]" QL]" ]PNa" QL]" LN^S[UQ[N]K" QL]" NONL[\QRRW" !:$% -'"% ,"% '/$.$&2K" QM" MZN"PNVQPbN]"UL"SLN"SY"[ZN"h\S[Q[USLM"QcSON+"""%ZNMN" TSVXSLNL[M"aNPN" c\[" Q" YNa"SY" [ZSMN" [ZQ["aNPN" ULOSRON]" UL"*ZQPRS[[NHM"

NL]NQOSP+" *ZQPRS[[N" TZQRRNL^N]" [ZN" QTTNX[N]" MbN[TZ" SY" [ZN" NL[PQLTN" TS\L[NPK" cW"YSPVUL^"QL"QR[NPLQ[UON"LN[aSPb"SY"QT[SPM" [ZQ["TS\R]"M\XXSP["ZNP" [PQLMRQ[USL"SY" [ZN"MbN[TZ+" #[" UM" [ZN"QMMSTUQ[USL"cN[aNNL" [ZNMN"QT[SPM" [ZQ["VQbNM"\X" [ZN"QcURU[W" [S" QT["QL]" [ZQ[" NONL[\QRRW" ^N[" [ZN" NL[PQLTN" TS\L[NP" PN]NMU^LN]+" #L" [ZUM" LN[aSPbK" NQTZ"PNRQ[USLMZUX" aQM" cQMN]" SL" Q" VNN[UL^" cN[aNNL" [ZN" ULOSRON]" QT[SPM1" YSP" N`QVXRN"cN[aNNL"*ZQPRS[[N" QL]" [ZN" MbN[TZ"SY" [ZN"XRQLLN]"NL[PQLTN" TS\L[NP+"2NPNK" NQTZ"SY"[ZNMN"NLTS\L[NPM"PNXPNMNL[N]"QL"QT["SY"[PQLMRQ[USL+"%PQLMRQ[USL"TQL"[Z\M"cN"MNNL"QM"[ZN" ONZUTRNK" [ZPS\^Z" aZUTZ" TZQL^N" QL]" XPS^PNMMUSL" NM[QcRUMZ" UL" M\TZ" Q" XPSTNMM+"7ZNL"*ZQPRS[[N"aQM"TSLYPSL[N]"aU[Z"[ZN"MbN[TZK"MZN"\L]NP[SSb"Q"TNP[QUL"[PQLMRQ[USL"[ZQ[" aQM" cQMN]" SL" ZNP" XPNOUS\M" NLTS\L[NPM" aU[Z" [ZN" XPSdNT[" lTSLONPMQ[USLMg"]ST\VNL[Mg" S[ZNP" MbN[TZNMK" QL]" VSPNm+" 6ZN" YNR[" ScRU^N]" [S" ScdNT[K" UL" SP]NP" [S"M\XXSP[" Q" RQP^NP" TQ\MN1" [ZN" V\LUTUXQRU[W" Q]VULUM[PQ[USLHM" QMXUPQ[USL" !"'% +,-.,@8%'/$..$++2" [ZPS\^Z" [ZN" VN]U\V" SY" [ZN" LNa" [SaL" ZQRR+" *ZQPRS[[N" ULU[UQ[N]" [ZN"XPSTNMM"SY"PN]NMU^LUL^"[ZN"NL[PQLTN"TS\L[NPK"c\[" U["aQM" [ZN"LN[aSPb"SY"QT[SPM" [ZQ["M\XXSP[N]"ZNP"OUNaXSUL[K"aZUTZ"NONL[\QRRW"^S[" [ZN"]NMU^L"SY" [ZN"NL[PQLTN"TS\L[NP"PNLN^S[UQ[N]"QL]"TZQL^N]+"""*QRRSL"N`XRQULM"[ZN"TSLTNX["SY"[PQLMRQ[USL"aU[Z"PNYNPNLTN"[S"[ZN"NM[QcRUMZVNL["SY"

Q"MXSbNMVQL1"q%S"[PQLMRQ[N"UM"[S"]UMXRQTN+"spt"-\["[S"[PQLMRQ[N"UM"QRMS"[S"N`XPNMM"UL"SLNHM"SaL"RQL^\Q^N"aZQ["S[ZNPM"MQW"QL]"aQL[K"aZW"[ZNW"QT["UL"[ZN"aQW"[ZNW"]S"QL]"

!B,""

ZSa"[ZNW"QMMSTUQ[N"aU[Z"NQTZ"S[ZNP1"U["UM"[S"NM[QcRUMZ"SLNMNRY"QM"Q"MXSbNMVQL+".["[ZN"NL]"SY"[ZN"XPSTNMMK"UY"U["UM"M\TTNMMY\RK"SLRW"OSUTNM"MXNQbUL^"UL"\LUMSL"aURR"cN"ZNQP]+"spt" %PQLMRQ[USL" UM" [ZN" VNTZQLUMV" cW" aZUTZ" [ZN" MSTUQR" QL]" [ZN" VQ[NPUQR" aSPR]M"XPS^PNMMUONRW" [QbN"YSPV+"%ZN"PNM\R[" UM"Q" MU[\Q[USL" UL"aZUTZ"TNP[QUL"NL[U[UNM"TSL[PSR"S[ZNPMr" l*QRRSL" !A,B1" 9!;D9!Fm+" " #L" [ZN" XPSdNT[K" *ZQPRS[[N" aQM" [ZN" NL[U[W" aZS"^QULN]"TSL[PSR+"6ZN"]U]"LS["QT["QRSLNK"c\["SL"cNZQRY"SY"Q"cPSQ]"LN[aSPb"SY"QT[SPM+"6ZN" ]NLS[NM" [ZUM" MNLMN" SY" TSVV\LU[W" ]UPNT[RW" cW" M[Q[UL^" [ZQ["!:$% =/*(06*?% -'"% ,"%="#$%$."06.1$%1'(."$0?%'/$.$&2+"""

]H!"497>6==5^@!=79:@>9=;6:*!R9@5M!6:!=45!R759LM6D:!6G!9!

75G575:A5!Fb6?5::5@@cJ!!

&N[\PLUL^" [S" [ZN"LS[USL"SY" [ZN"MXSbNMVQLK"*ZQPRS[[N" [Z\M"NM[QcRUMZN]"Q"\LUMSL"OSUTN"SL"cNZQRY"SY"ZNP"LN[aSPb+".M"U["aQM"UL]UTQ[N]"QcSONK"ZNP"XQP[UT\RQP"XNPTNX[USL"SY" [ZN"MbN[TZ"aQM" [Z\M"cQMN]"SL"Q"cPSQ]NP"LN[aSPb"SY" UL[NP[aULUL^"QT[SPM1" YNRRSa"M[QYY" VNVcNPMg" N`[NPLQR" Q]OUMSPM" M\TZ" QM" QPTZU[NT[M" SP" XPSTNMM" ]NMU^LNPMg" RSTQR"TU[U_NLM" QL]" TRUNL[Mg" RSTQR" XSRU[UTUQLMg" XZPQMNM" UL" ]ST\VNL[M" QL]" MXNNTZNMg"]UMT\MMUSLM"UL"]UQRS^\N"MNMMUSLMg"MbN[TZNM"QL]"]UQ^PQVM"SY"]NMU^L"PNXPNMNL[Q[USLMg"h\NM[USLM" QMbN]" UL" aSPbMZSX" NONL[MK" QL]" VSPN+" *ZQPRS[[NHM" [PQLMRQ[USL" QL]"M\cMNh\NL["QT[USL"MZS\R]"[Z\M"LS["cN"MNNL"QM"QL"UMSRQ[N]"QT[K"c\["PQ[ZNP"QM"[ZN"PNM\R["SY"ZSa" [ZNMN"OQPUS\M"TSVXSLNL[M"SP" QT[SPM"^S[" [S" M\XXSP["ZNP" TQ\MN+"2NPNK" [ZNMN"TSVXSLNL[M" YSPV" Q" TZQULK" aZUTZ" NVNP^N]" QM" Q" PNM\R[" SY" [ZNUP" UL[NPQT[USLM+" .M"MXSbNMVQLK"*ZQPRS[[N" QP[UT\RQ[N]" Q"XSUL[" SY" PNYNPNLTN" l[ZN" [NPV"!'/$..$++2m" [ZQ["[UN]"[ZNMN"QT[SPM"[S^N[ZNP+"-\["YSP"M\TZ"Q"PNYNPNLTN"[S"cN"VQUL[QULN]K"[ZN"RULbM"UL"[ZN"TZQUL" LNN]" QMMSTUQ[USL+" 7U[Z" RQTb" SY" QMMSTUQ[USLK" [ZN" PNYNPNLTN" cPNQbMK" QL]" [ZN"TZQUL"RSMNM"TSZNMUSL"lN+^+"*QRRSL"!A,BK"5Q[S\P"!AAAm+""".R[ZS\^Z"NQTZ"PNRQ[USLMZUX"UL"[ZN"TZQUL"LNTNMMQPURW"ULOSRONM"VS]UYUTQ[USLMK"QM"Q"

LQ[\PQR" PNM\R[" SY" [ZN" [PQLMRQ[USLM" [ZQ[" TSLM[U[\[N" [ZNUP" NLTS\L[NPK" ONPU[QcRN"]UMMSTUQ[USLM" TQL" TQ\MN" Q" PNYNPNLTN" cPNQb]SaL" l5Q[S\P" !AAAm+"7ZNL"*ZQPRS[[NHM"XNPTNX[USL" SY" [ZN" XPSdNT[HM" SONPQRR" QMXUPQ[USL" l!"'% +,-.,@8% '/$..$++2m" VNN[M" [ZN"QPTZU[NT[HM"MbN[TZ"SY" [ZN"NL[PQLTN"TS\L[NPK" [ZN"PNYNPNLTN"cPNQbM+"#[" UM"SL"[ZUM"cQMUM"MZN" ScdNT[MK" QL]" YPSV" [ZQ[" XSUL[" MZN" M[QP[M" [S" c\UR]" Q" LN[aSPb" [S" YSPV" QL]"NONL[\QRRW"M[QcURU_N"ZNP"QP^\VNL[+"""

!BA""

.L"QR[NPLQ[UON"[PQLMRQ[USL"SY"[ZN"MU[\Q[USL"aS\R]"cN"[S"MNN"*ZQPRS[[NHM"[PQLMRQ[USL"U[MNRY" QM" Q" PNYNPNLTN" [ZQ[" cPNQbM+" .M" VNL[USLN]" SL" MNONPQR" STTQMUSLM" QcSONK"*ZQPRS[[NHM" [PQLMRQ[USL" UM"cQMN]"SL"QL"N`XNPUNLTN" [ZQ["^SNM"cQTb"Q" RSL^"aQW+"6ZN"ZQ]"cNNL"QT[UONRW"ULOSRON]"aZURN"aSPbUL^K"c\["MZN"ZQ]"LS["cNNL"UL"TSL[QT["aU[Z"[ZN"XPSdNT["]\PUL^"ZNP"RNQON"SY"QcMNLTN+"#L"[ZQ["aQW"aN"VU^Z["MQW"[ZQ["MZN"XS[NL[UQRRW"cQMN]"ZNP"[PQLMRQ[USL"SL"QL"S\[]Q[N]"XPNVUMN+".M"aURR"cN"S\[RULN]"cNRSaK"[ZNPN"QPN"MNONPQR"QP^\VNL[M"[S"M\XXSP["*ZQPRS[[NHM"QXXPSQTZ+"-\["UY"aN"PNTQRR"[ZN"S\[RULN"SY"[ZN"XPNOUS\M"MNT[USL"lTY+"F-mK"aN"QRMS"PNVNVcNP"[ZQ["[ZN"M[QYY"bNX["QP^\UL^"Q^QULM["[ZN"SXNL"SYYUTN" RQWS\[+"2NPNK" [ZN"XQP[UTUXQL[HM" PNMUM[QLTN" [SaQP]M" [ZN"SXNL" RQWS\["MNNVN]" [S" M[QcURU_N" [ZPS\^Z" [ZN" TSL[UL\S\M" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" [ZNPNcW"MSVNZSa"[S"VS]UYW+"-\["[ZNUP"PNMUM[QLTN"]U]"XNPMUM[K"QL]"UL"[ZUM"MNLMNK"*ZQPRS[[NHM"ScdNT[USL" [S" [ZN"]NMU^L"SY" [ZN"NL[PQLTN"TS\L[NP"VU^Z[" MNNV"QM"Q"TSL[PQ]UT[USL+" #L"[ZUM" XNPMXNT[UONK" U[" VU^Z[" cN" *ZQPRS[[NHM" M\TTNMM" UL" ^N[[UL^" [ZN" NL[PQLTN" TS\L[NP"PN]NMU^LN]"[ZQ["MZS\R]"cN"MNNL"QM"[ZN"PNQR"PNYNPNLTN"cPNQb]SaL+""

IH!249?;:8!=45!978CP5:=*!A759=;:8!@=9R;>;=Q!;:!=45!:5=D67L!!

7N"VU^Z["MQW"[ZQ["[ZN"VQ[NPUQR"]NOUTNM"QL]"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"VQLW"ULOSRON]" QT[SPM" QXXNQP" QM" M[QcURU_NPMK" [ZPS\^Z" aZUTZ" PNRQ[UONRW" UL]UM[ULT["SP^QLU_Q[USLQR" QMXUPQ[USLM" l!"'% +,-.,@8% '/$..$++2m"VU^Z[" ^QUL" [ZNUP" M[PNL^[Z+" %ZN"VSPN"UL[NPQT[USL"cN[aNNL"[ZN"QT[SPMK"[ZN"VSPN"NLTS\L[NPM"[QbN"XRQTN"QL]"[ZN"VSPN"[PQLMRQ[USLM" QPN" VQ]N+" %S^N[ZNP" [ZNMN" YSPV" Q" LN[aSPb" SY" QMMSTUQ[USLMK" aZUTZ"XS[NL[UQRRW" TPNQ[N" [ZN" ]\PQcURU[W" [ZQ[" VU^Z[" M[QcURU_N" QL]" M[PNL^[ZNL" *ZQPRS[[NHM"QP^\VNL["lN+^+"5Q[S\P"!AA!m+"%S"\L]NPM[QL]"ZSa"*ZQPRS[[N"NM[QcRUMZN]"ZNP"XSMU[USL"QM" Q" MXSbNMVQLK" aN" [Z\M" LNN]" [S" N`XRSPN" [ZN" [PQLMRQ[USLM" [ZQ[" TSLM[U[\[N]" [ZN"QMMSTUQ[USLM" [ZQ[" M[QcURU_N]K" M\XXSP[N]K"ScM[P\T[N]"QL]" [Z\M" YSPVN]"ZNP" QP^\VNL[+"#L"[ZN"XQPQ^PQXZM"cNRSaK"#"QUV"[S"cPUNYRW"S\[RULN"*ZQPRS[[NHM"QP^\VNL["QM"Q"XPS^PQV"SY"M\XXSP[UL^"QL]"ScM[P\T[UL^"TSL[NL[USLMK"QM" U[" UM" URR\M[PQ[N]" UL"]UQ^PQV"?"cNRSa+"%ZNMN"VU^Z["cN"XNPTNUON]"QM"[aS"TSVXN[UL^"QXXPSQTZNMK"cS[Z"SY"aZUTZ"QPN"TNL[PQR"[S"[ZN"LN^S[UQ[USL"[ZQ["NONL[\QRRW"PNM\R[N]"UL"[ZN"PN]NMU^L+"""

!?E""

"3GHIJHK' =" URR\M[PQ[NM" [ZN" TSVXN[UL^" QXXPSQTZNM" UL" *ZQPRS[[NHM" XQ[Z" [SaQP]M" MXSbNMVQLDMZUX+" #LU[UQ[UL^" Q"

PNLN^S[UQ[USL"SY"[ZUM"XQP[UT\RQP"QPTZU[NT[\PQR"ScdNT[K"OQPUS\M"TSL[NL[USLM"[ZQ["M\XXSP[N]"QL]"ScM[P\T[N]"ZNP"QP^\VNL["aNPN"cPS\^Z["[S"[ZN"MTNLN+"6SVN"SY"[ZNMN"QPN"S\[RULN]"UL"[ZN"XQPQ^PQXZM"cNRSa+"

"

!2*(3"$$%>4&*(0-8%#$1&$2%&'("0(*8&")&4-''"($%(4&*#,&".4$(-!$%(4&

%ZNPN" QPN" MNONPQR" TSLM[U[\NL[M" [ZQ[" aNPN" XQP[UT\RQPRW" ZNRXY\R" [S" *ZQPRS[[N" UL"NM[QcRUMZUL^" ZNP" QP^\VNL[" [SaQP]M" Q" PNLN^S[UQ[USL" SY" [ZN" NL[PQLTN" TS\L[NP+" 2NP"QP^\VNL["aQM"cQMN]"SL"[ZN"LS[USL"SY"Q"VUMVQ[TZ"cN[aNNL"XQP[UT\RQP"VNMMQ^NM"[ZQ["[ZN"c\UR]UL^"QUVN]"[S"MU^LUYWK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"QPTZU[NT[\PQR"PNXPNMNL[Q[USL"SY"M\TZ"VNMMQ^NMK"SL"[ZN"S[ZNP+"'

2C??67=57!$*!M6ACP5:=@!9:M!?97=;A;?9=;6:!9A=;B;=;5@!

.M" ZQM" cNNL" URR\M[PQ[N]" QL]" ]UMT\MMN]" QcSONK" [ZNPN" UM" QL" N`[NLMUON" QVS\L[" SY"[N`[M" [ZQ["VQW" ZQON" cNNL" ZNRXY\R" [S"*ZQPRS[[NHM" [PQLMRQ[USL" SY" [ZN" MbN[TZ" QL]" [ZN"M\cMNh\NL[" XPSTNMM" SY" PNLN^S[UQ[USL" QL]" PN]NMU^L+" %ZNMN" ]ST\VNL[M" PNXPNMNL[N]"OQPUS\M"ONPMUSLM"SY"[ZN"TNL[PQR"SP^QLU_Q[USLQR"QMXUPQ[USLMK"aU[Z"aZUTZ"*ZQPRS[[N"aQM"QTh\QUL[N]+" 2NPNK" [ZN" VQ[NPUQR" h\QRU[W" SY" [ZN" ]ST\VNL[M" VU^Z[" QRMS" ZQON" cNNL"Q]OQL[Q^NS\MK"QM"Q"TSLTPN[N"]NOUTN"QL]"[Z\M"QM"Q"XS[NL[UQR"XSUL["SY"PNYNPNLTN+"""%ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["QRMS"cN"MNNL"QM"TNL[PQR"[S"NLZQLTN"*ZQPRS[[NHM"

QP^\VNL[+" 6\TZ" ULOSRONVNL[K" NL^Q^NVNL[" QL]" ]UMT\MMUSLM" UL" UL[NPQT[UON"aSPbMZSXM" QL]" QRMS" S[ZNP" NONL[M" lTY+" F.m" aNPN" MNNL" QM" MU^LUYUTQL[" ONZUTRNM" [S"M\XXSP["[ZN"UVXRNVNL[Q[USL"SY"[ZN"V\LUTUXQRU[W"VNP^NP+"#L"[ZNMNK"TNP[QUL"VNMMQ^NM"QL]"XSUL[M"SY"PNYNPNLTN"aNPN"PNXNQ[N]"QL]"[Z\M"XS[NL[UQRRW"ZNQP]"cW"QL"ULTPNQMUL^"

!?!""

L\VcNP" SY" M[QYY" VNVcNPM+" .RMSK" Q" L\VcNP" SY" TSVVUMMUSLM" aNPN" QXXSUL[N]"[ZPS\^ZS\["[ZN"XPSdNT[K"UL"aZUTZ"Q"TSLMU]NPQcRN"QVS\L["SY"[ZN"M[QYY"aQM"ULOSRON]+".M"#"]UMT\MMN]"UL"MNT[USL"F-K"aN"VU^Z["MQW"[ZQ["TSL[UL\S\M"XQP[UTUXQ[USL"QT[UOU[UNM"UL" [ZN" XPSdNT[" TSL[PUc\[N]" [S" XPS]\TN" TSVVU[VNL[" QL]" PNMXSLMUcURU[W" QVSL^" [ZN"M[QYYK" Q" XSUL[" [ZQ[" VQW" ZQON" M\XXSP[N]" *ZQPRS[[NHM" QP^\VNL[+" 2NPNK" [ZN" SL^SUL^"]UQRS^\N" MNMMUSLM" MNPON]" QM" QL" SXXSP[\LU[W" [S" TSLMU]NP" [ZN" UVXRUTQ[USLM" SY" [ZN"SP^QLU_Q[USLHM" TNL[PQR" QMXUPQ[USLMK" YSP" N`QVXRN"aU[Z" PNYNPNLTN" [S" [ZN"VNP^NP" QL]"[ZNPNcW"[ZN"LNa"SP^QLU_Q[USL"[ZQ["aS\R]"ULZQcU["[ZN"c\UR]UL^+""'

2C??67=57!\*!=45!G;:9:A;9>!9@?5A=!

.LS[ZNP"QMXNT["[ZQ["VU^Z["M\XXSP["*ZQPRS[[NHM"Q[[NVX["UM"[ZN"YULQLTUQR"QMXNT["SY"ZNP" QP^\VNL[Q[USL+" #L" [ZN" TSL[N`[" SY" QL" N`[NLMUON" c\UR]UL^" XPSdNT[" M\TZ" QM" [ZN"TSLM[P\T[USL"SY"Q"[SaL"ZQRRK"QL"NL[PQLTN"TS\L[NP"TQL"cN"PN^QP]N]"QM"Q"VULSP"YUMZ"UL"Q" RQP^N" XSL]+" *SVXQPN]"aU[Z" [ZN" ]UMT\MMUSL" QcS\[" [ZN" SXNL" SYYUTN" RQWS\[" UL" [ZN"XPNOUS\M" MNT[USL" lTY+" F-mK" UL" aZUTZ" VQdSP" TZQL^NM" aS\R]" TQ\MN" M\cM[QL[UQR"YULQLTUQR"UVXRUTQ[USLMK"[ZN"NL[PQLTN"TS\L[NP"UM"NQMUNP"[S"VQLQ^N+"#Y"bNX["aU[ZUL"[ZN"SPU^ULQR" c\]^N[" QL]" [UVN" MTZN]\RNMK" TZQL^NM" [S" M\TZ" Q" ]UM[ULT[" ScdNT[" VU^Z[" cN"TSLMU]NPN]"LS["SLRW"YULQLTUQRRW"XSMMUcRNK"c\["QRMS"Q"PN^\RQP"SXXSP[\LU[W"[S"NM[QcRUMZ"cNZQOUSPQR"TSVVU[VNL[+"2SaNONPK"[ZN"ScdNT["VU^Z["cN"VULSP"UL"MU_NK"c\["U["UM"M[URR"Q"MU^LUYUTQL[RW" N`XSMN]" XQP[" SY" [ZN" c\UR]UL^K" QL]" [ZUM" XSMU[USL"VU^Z[" UL" U[MNRY" ZQON"M\XXSP[N]"*ZQPRS[[NHM"QP^\VNL[+"%ZN"NL[PQLTN"TS\L[NP"UM"[ZN"YNQ[\PN"[ZQ["YUPM["VNN[M"[ZN"TRUNL["QM"MZN"NL[NPM"[ZN"[SaL"ZQRR+"*ZQPRS[[NHM"RULN"SY"PNQMSL"TS\R]"[Z\M"ULTR\]N"[ZQ[" [ZN" SXNL" QXXPSQTZ" MZN" XNPTNUON]" QM" Q" TNL[PQR" PNXPNMNL[Q[UON" SY" [ZN"SP^QLU_Q[USLHM" SONPQRR" QMXUPQ[USLK" MZS\R]" cN" XQP[UT\RQPRW" QXXQPNL[" ZNPN+" %ZN"YULQLTUQR" QMXNT[" aQM"VScURU_N]" UL" *ZQPRS[[NHM" NM[QcRUMZVNL[" SY" Q" LN[aSPb" UL" [ZN"MNLMN" [ZQ[" ZNP" TP\MQ]N"]U]LH[" ZQON" YULQLTUQR" TSLMNh\NLTNM+" 6ZN" ^QULN]" [ZN"<(HM"M\XXSP["cW"QMM\PUL^"[ZQ["[ZN"XS[NL[UQR"PNLN^S[UQ[USLM"QL]"TZQL^NM"aS\R]"LS["QYYNT["[ZN"c\]^N[+"""

2C??67=57!"*!"497>6==5^@!?6@;=;6:!;:!=45!6789:;<9=;6:!

%ZNPN" UM" QRMS" *ZQPRS[[N" ZNPMNRYK" ZNP" XSMU[USL" QM" ]NXQP[VNL[" VQLQ^NP" QL]" ZNP"^NLNPQR"QXXPSQTZ" [S"XPScRNV"MSROUL^+"*ZQPRS[[N"aQM" [ZN"VQLQ^NP"SY"!G#$%D,",B$.%E$0;,1$% D$."$02K" aZUTZ" UM" Q" ZU^ZRW" LS[QcRN" ]NXQP[VNL[" UL" [ZN" V\LUTUXQRU[W"Q]VULUM[PQ[USL"UL"[NPVM"SY"MU_NK"OUMUcURU[W"QL]"]UPNT["TRUNL["TSL[QT[+"2NP"XPSYNMMUSLQR"

!?9""

U]NL[U[W"QL]"ZUNPQPTZUTQR"XRQTNVNL["UL"[ZN"SP^QLU_Q[USLK"VQ]N"U["XSMMUcRN"YSP"ZNP"[S"VScURU_N" [ZN" <(K" Q" PNRQ[USLMZUX" aZUTZ" VU^Z[" cN" MQU]" [S" PNXPNMNL[" M\cM[QL[UQR"UVXQT[K"aU[Z"PN^QP]M"[S"M[PQ[N^UT"UMM\NM+""".RMSK" VW" YUNR]" LS[NM" PNXSP[N]" [ZQ[" *ZQPRS[[N" aQM" QT[UONRW" ULOSRON]" UL" [ZNMN"

NONL[M+"$S["SLRW"]U]"MZN"QT["QM"ZNP"^PS\XHM"PNXPNMNL[Q[UON"UL"[ZN"XRNLQPW"MNMMUSLM"SY"M\cVUMMUSL"QL]"YNN]cQTb"UL"[ZN"aSPbMZSXM+"6ZN"QRMS"VQ]N"M\cM[QL[UQR"TSVVNL[M"[S"[ZN" S[ZNP" ^PS\XHM" PNM\R[M" UL" [ZN" YNN]cQTb+" #L" M\TZ" MU[\Q[USLM" MZN" VU^Z[" QRMS" cN"TZQPQT[NPU_N]" QM" QL" Q\`URUQPW" QPV" [S" [ZN" <(+" -W" QP[UT\RQ[UL^" MU^LUYUTQL["SP^QLU_Q[USLQR" VS]UYUTQ[USLM" SY" M[PQ[N^UT" ScMNPOQLTN" [ZPS\^Z" ZNP" Q]QX[Q[USLM" SY"QP^\VNL[M" QRPNQ]W" XPNMNL[N]" UL" OQPUS\M" ONPMUSLM" k"aPU[[NL" SP" SPQR" k" cW" ZUVK" MZN"VU^Z[" cN" MQU]" [S" TQPPW" [ZN" [SPTZ+" 2NPNK" aN"VU^Z[" PNTQRR" [ZN"<(HM" LS[USL" SY" [ZN"PNXNQ[N]"XSUL[M"SY"PNYNPNLTN"YPSV"QL"UL[NPOUNa"XPNOUS\MRW"XPNMNL[N]"UL"[ZUM"MNT[USL1"""!=>?% "#$0$% #6;$% )$$.% "#'+$% /',."+% '@% 0$@$0$.1$% "#6"% 8'(% 1'(*&% 0$@$0% "'9% "#6"%

:$0$% "'%)$%1'77(.,16"$&%6-6,.%6.&%6-6,.%O%:#,1#% "#$8%#6;$% ,.&$$&%)$$.A%G#$8%#6;$%0$/$6"$&*8%)$$.%/("%'("% ,.%.$:%;$0+,'.+9%$"1A%XG#,+%,+%:#6"%:$40$%6,7,.-%6"A%G#,+%,+%:#6"%"#,+%#'(+$%,+%+(//'+$&%"'%611'77'&6"$4A2"""7N"VU^Z["MQW"[ZQ["*ZQPRS[[N"NVXRSWN]"QL]"ZQcU[\Q[N]"[ZNMN"XSUL[M"SY"PNYNPNLTNK"

LS["SLRW"cW"ZNP"QT[UON"ULOSRONVNL["UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"c\["QRMS"[ZPS\^Z"ZNP" M\cMNh\NL[" PNMXSLMN" [S" [ZN" MbN[TZ"SY" [ZN"NL[PQLTN"TS\L[NP+"2NPNK" MZN" RU[NPQRRW"QTTNX[N]"VQLQ^NVNL[HM"aPU[[NL"ULOU[Q[USL"!"'%/60",1,/6"$%6+%1'N1'."0,)("'02"QM"U["aQM"]NYULN]"UL"SLN"SY"[ZN"SYYUTUQR"]ST\VNL[MK"cW"PNYPQVUL^"Q"MSVNaZQ["UL]UM[ULT["S\[RULN"SY"Q"TNL[PQR"SP^QLU_Q[USLQR"QMXUPQ[USL+"""

2C??67=57!0*!"497>6==5^@!>59B5!6G!9R@5:A5!!

%\PLUL^" YPSV" *ZQPRS[[NHM" XPNMNLTN" QL]" QT[UON" XQP[UTUXQ[USL" [S" [ZN" SXXSMU[N"XSMU[USLK"U["VU^Z["cN"TSLMU]NPN]"Q"M\XXSP["[S"ZNP"QP^\VNL["[ZQ["MZN"ZQ]"cNNL"QcMNL["YPSV"[ZN"SP^QLU_Q[USL"QL]"YPSV"[ZN"XPSdNT[" YSP"LULN"VSL[ZMK"]\N" [S"ZNP"VQ[NPLU[W"RNQON+"6ZN"XSUL[M"S\[1"""!E#$%="#$%"$7/9%:#'%#$*&%D#60*'""$4+%/'+,",'.%&(0,.-%#$0%*$6;$?%#6+%#6&%7'0$%

"#6.% $.'(-#% "'% &'% :,"#% "#$% 7$0-$0% =)$":$$.% "#$% ":'% 7(.,1,/6*% (.,"+?9% +'% +#$%#6+.4"% #6&% "#$% +67$% @'1(+% '.% "#$% )(,*&,.-% /0'F$1"% =>?A% E'%:#6"% 3% +6,&% =:#$.% 3%

!?C""

0$"(0.$&?%:6+% "#6"% "#6"% "#$% 1'(."$0% ,+% +",**% 6+% ,"% #6+% )$$.% "#0'(-#'("% "#$% :#'*$%/0'1$++9%:#,1#%.'%'.$%#6&%C($+",'.$&%6"%"#$%",7$A%G#$84;$%/0')6)*8%"#'(-#"%,"%:6+%F(+"% @,.$A2%"%ZUM"MNNVM"[S"cN"Q"[WXN"SY"nTQLLS["MNN"[ZN"aSS]M"YSP"[ZN"[PNNMH"QP^\VNL[1"aZNL"

]NNXRW"ULOSRON]"UL"Q"VQ[[NPK"aN"VQW"SONPRSSb"ScOUS\M"XNT\RUQPU[UNM"SP"]UMP\X[USLM+"*ZQPRS[[N"ZQ]"[ZN"XPSdNT["Q["Q"]UM[QLTN"UL"[NPVM"SY"[UVN"QM"aNRR"QM"MXQTN+"-\["QM"U["TQVN" YSP[Z" UL" [ZN" h\S[Q[USL" QcSONK" MZN" ZQ]" UL" YQT[" MNNL" S[ZNP" MbN[TZNM" SY" [ZN"NL[PQLTN"TS\L[NP"XPUSP"[S"ZNP"RNQON"SY"QcMNLTNK"aU[ZS\["PNQT[UL^"[S"[ZNV"Q["[ZN"[UVN+"$S[" \L[UR" MZN" PN[\PLN]" TS\R]" MZN" MNN" [ZN" MbN[TZ"VSPN" TRNQPRW" QL]" \L]NP[QbN" [ZN"[PQLMRQ[USLK"\XSL"aZUTZ"MZN"TS\R]"QT[+"""

2C??67=57!'*!=45!:6=;6:!6G!a=45!A6P?5=5:=!A;=;<5:^!

=ULQRRWK" [ZNPN" VU^Z[" QRMS" cN" TNP[QUL" ^NLNPQR" MSTUN[QR" [NL]NLTUNM" Q[" M[QbN" UL"*ZQPRS[[NHM" QTTS\L[K" cQMN]"SL"Q" TSVXRN`"SY" TSLTNPLM" QMMSTUQ[N]" [S"^RScQRU_Q[USL+"2NPNK"bNWaSP]M"RUbN"]UONPMU[WK"V\R[UXRUTU[WK"PNRQ[USLMZUXMK"TSRRQcSPQ[USL"QL]"TPSMMD]UMTUXRULQPU[W" TQL" cN" MNNL" QM" V\[\QRRW" ULYR\NL[UQR" aU[ZUL" UMM\NM" PQL^UL^" YPSV"c\MULNMM"[S"PNRU^USL+"#L"[ZUM"XNPMXNT[UONK"QL"!'/$.2"QXXPSQTZ"VU^Z["cN"XNPTNUON]"QM"Q" MNLMN" SY" PNTNX[UOU[WK" UL" aZUTZ" Q" aURRUL^LNMM" [S" YQTN" [ZN" LNa" QL]" TSLYPSL[" [ZN"\LbLSaL"UM"TNL[PQR+"%ZN"QMXNT["ULOSRONM"LS["SLRW"QL"UL[NPLQR"TSL[N`[K"aU[ZUL"aZUTZ"[ZN"NL]"\MNPM"QPN"PNXPNMNL[N]"cW"[ZN"M[QYY"QL]"[ZNUP"QXXPSQTZ"[S"aSPb"XPSTNMMNM"QL]"TSRRQcSPQ[USLK" c\[" QRMS" cW" [ZN" N`[NPLQR" TSVV\LU[W" [ZQ[" XS[NL[UQRRW" ULTR\]N"V\LUTUXQR" TU[U_NLM" QL]" [ZNUP" ULTPNQMUL^" ULOSRONVNL[" UL" [ZN" MNPOUTN"XPS]\T[USL+" #L"M\TZ" Q" XNPMXNT[UONK" [ZN" XNPTNX[USL" SY"!'/$..$++2" QM" QL" U]USVQ[UT" TSLTNX["VU^Z["UL]UTQ[N"Q"V\TZ"RQP^NP"X\PXSMN1"Q"XPS^PQV"aU[Z"Q"cPSQ]NP"N]\TQ[USLQR"UL[NL[USL"SY"TPNQ[UL^" [ZN" SXNLITSVXN[NL[ITQXQcRN" TU[U_NL" l5Q[S\P" !AA!m+" %ZN" NM[QcRUMZVNL[" SY"[ZN"]NXQP[VNL["[ZQ["*ZQPRS[[N"aQM"UL"TZQP^N"SY"l!G#$%D,",B$.%E$0;,1$%D$."$02m"UM"Q"XQP[" SY" [ZUM" [NL]NLTW" UL" [ZN" (QLUMZ" X\cRUT" MNT[SP+" #L" [ZNMN" TNL[NPMK" TRUNL[M" QPN"ULTPNQMUL^RW" ULOU[N]" [S" XQP[QbN" UL" QL]" ^PQ]\QRRW" [QbN" SONP" TNP[QUL" XQP[M" SY" [ZN"TSVV\LU[W"MNPOUTN"laaa+UL]NLPU^MVULUM[NPUN[+]bIX\cRUbQ[USLNPm+"""6\TZ"]NONRSXVNL[M"SY"[ZN"X\cRUT"MNT[SPK"aZUTZ"VU^Z["ULTR\]N"TSLTNX[M"RUbN"n[ZN"

TSVXN[NL["TU[U_NLH"SP"n[ZN"SXNL"V\LUTUXQRU[WHK"VU^Z["cPUL^"\M"cQTb"[S"[ZN"cQRQLTN"cN[aNNL" SXNL" QL]" TRSMN]" QM" XNPMXNT[UONM" SP" OUNaXSUL[M+" 2NPNK" [ZN" V\[\QR"]NXNL]NLTW"SY"[ZNMN"XSMU[USLM"Q^QUL"MNNVM"PNRNOQL["[S"TSLMU]NPK"aU[Z"PN^QP]M"[S"[ZN"

!?;""

MXQ[UQR"SP^QLU_Q[USL"SY"Q"aSPb"NLOUPSLVNL["QL]"U[M"Y\LT[USLQRU[UNM+"%ZN"SXXSMU[N"SY"QL"NL[PQLTN"TS\L[NP"QM"VQ[NPUQR"ScdNT[K"TS\R]"cN"U[M"QcMNLTN1"QL"SXNL"QPNQ"SP"Q"OSU]+"(UMRS]^UL^" [ZN" NL[PQLTN" TS\L[NP" cW" PNVSOUL^" TNP[QUL" SY" U[M" [PQ]U[USLQR" TS]NM" QL]"QP[UYQT[M" VU^Z[" [Z\M" TZQRRNL^N" MSVN" SY" [ZN" aNRR" bLSaL" ]NVQPTQ[USL" RULNM" [ZQ["TZQPQT[NPU_N" [ZN" TSLONL[USLQR" PNRQ[USLMZUX" cN[aNNL" M[QYY" QL]" TRUNL[" QL]" [Z\M" [ZN"^NLNPQR"U]NQ"SY"TSVV\LU[W"MNPOUTN+"2SaNONPK"Q"]UYYNPNL["QXXPSQTZ"[S"[ZN"NL[PQLTN"TS\L[NP" UL" Q"V\LUTUXQRU[W" [SaL"ZQRR" UM" M[URR" RUbNRW" [S" PNXPS]\TN"VQLW" SY" U[M" cQMUT"Y\LT[USLQRU[UNM" k" UL" Q" LNa" YSPVQ[+" <W" YUNR]" LS[NM" YPSV" SLN" SY" [ZN" XQP[UTUXQ[USL"aSPbMZSXM"S\[RULN"Q"]UMT\MMUSL"QcS\["M\TZ"XSMMUcRN"LNa"QXXPSQTZNM"[S"[ZN"NL[PQLTN"TS\L[NP"QM"Q"XQMMQ^N"XSUL[1""!c60",1,/6."%TT%0$7605+% "#6"% "#$% 1*,$."+%'@"$.%.$$&%6%/$0+'.6*% 1'."61"%:#$.%

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cQMUT"Q[[PUc\[NM"[ZQ["QL"NL[PQLTN"TS\L[NP" [PQ]U[USLQRRW"ZSR]M"UM"

cNUL^"TZQRRNL^N]+"%ZN"TS\L[NP" U[MNRY"QXXNQPM"QM"QcMNL["aZURN" [ZN"TSL[QT["cN[aNNL"[ZN"TRNPbM"QL]"[ZN"TRUNL[M"UM"M\^^NM[N]"[S"[QbN"XRQTN"UL"Q"VSPN"]UPNT["YSPV+"-NYSPN"]UMT\MMUL^" ZSa" [ZN" PNRQ[USLMZUXM" cN[aNNL" [ZNMN" nM\XXSP[UL^H" QT[SPM" VU^Z[" ZQON"TSL[PUc\[N]"[S"*ZQPRS[[NHM"QMXUPQ[USL"[S"PN]NMU^L"[ZN"MZQXN"SY"[ZN"NL[PQLTN"TS\L[NPK"#"aURR"[\PL"[S"MSVN"SY"[ZN"QT[SPM"[ZQ["XS[NL[UQRRW"ScM[P\T[N]"ZNP"SL"[ZN"dS\PLNW+""'

+R@=7CA=57!$*!=45!G;W=C75@!

#L"[NPVM"SY"[ZN"PNMUM[QLTN"*ZQPRS[[N"VQW"ZQON"N`XNPUNLTN]"UL"[ZN"XPSTNMMK"[ZNPN"QPN" TNP[QUL" QMXNT[M" [ZQ[" LNN]" Q[[NL[USL+" =UPM[K" [ZNPN" QPN" TNP[QUL" XPQT[UTQR" VQ[[NPM"ULOSRON]" UL" [ZN"PNLN^S[UQ[USL" [ZQ["aS\R]"ZQON"ZQ]"YULQLTUQR" UVXRUTQ[USLM" [S" [ZNV+"7ZNL"*ZQPRS[[N"PN[\PLN]"YPSV"ZNP"VQ[NPLU[W"RNQON"QL]"MQa"[ZN"MbN[TZ"[S"aZUTZ"MZN"ScdNT[N]K"[ZN"MbN[TZ"ZQ]"UL"YQT["cNNL"QXXPSON]"YSP"Q"aZURN+"-\["VSPN"UVXSP[QL[RWK"Q["[ZN"XQP[UT\RQP"[UVN"aZNL"ZNP"ScdNT[USL"aQM"MN["YSP[ZK"[ZN"YU`[\PNM"SY"[ZN"c\UR]UL^"

!?F""

aNPN"cNUL^"XRQLLN]+"6\cM[QL[UQR"TZQL^NM"aNPN"[Z\M"ZQP]"[S"VQLQ^NK"aU[Z"PN^QP]M"[S"RN^QR" TSL[PQT[M" QL]" [NTZLUTQR" TSSP]ULQ[USL"aU[Z" OQPUS\M" M\cTSL[PQT[SPM+".RMSK" [ZN"LNa"[SaL"ZQRR"aQM"XNPTNUON]"QM"Q"M\cM[QL[UQR" ULONM[VNL["aU[ZUL" [ZN"X\cRUT"MNT[SP"MWM[NVK"QL]"U["aQM"TP\TUQR"[ZQ["[ZN"[UVN"MTZN]\RN"QL]"[ZN"c\]^N[M"aNPN"cNUL^"bNX[!9+"""

+R@=7CA=57!\*!=45!A6>>9R679=;6:!R5=D55:!"497>6==5!9:M!=45!

M5@;8:57@!

%ZN"TSRRQcSPQ[USL"cN[aNNL"*ZQPRS[[N"QL]"[ZN"XPSdNT[HM"OQPUS\M"]NMU^LNPM"VU^Z["LS["LNTNMMQPURW"ZQON"M\XXSP[N]"ZNP"QMXUPQ[USLK"aU[Z"PN^QP]M" [S"^NLNPQR"]UYYNPNLTNM"UL"VN[ZS]" QL]" RQL^\Q^N" lTY+" *ZQX[NP" ;m+"2NPNK" U[" MNNVM" [ZQ[" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL" laU[Z" [ZN" TRUNL[" QM" nQ" TSVXS\L]" cS]W" SY" \MNPMHm" TS\R]" XS[NL[UQRRW"PNXPNMNL[" Q" M\cM[QL[UQR" TZQRRNL^N" [S" [ZN" [PQ]U[USLQRRW" QVcU^\S\M" S\[RULN" SY"QPTZU[NT[\PQR" ]NMU^L" XPQT[UTN+" %ZN" PNLN^S[UQ[USL" SY" [ZN" MZQXN" SY" [ZN" NL[PQLTN"TS\L[NPK" QM" QL" Q]]U[USLQR" ]NMU^L" XPSTNMMK" UM" [Z\M" RUbNRW" [S" ULTR\]N" TSVXRUTQ[USLMK"RUL^\UM[UTQRRW" QM" aNRR" QM" aU[Z" PN^QP]M" [S" TSL[NL[+" 7ZNL" *ZQPRS[[N" [ZS\^Z[" ZNP"ULU[UQ[UON" SY" Q" PN]PQY[" aS\R]" TQ\MN" [ZN" QPTZU[NT[M" [S" PNMXSL]K" MZN" aQM" [QbNL" cW"M\PXPUMNK"QM"aN"ZQON"MNNL"U["UL"Q"h\S[Q[USL"QcSON"UL"[ZUM"MNT[USL1"""!3%:6+%"#,.5,.-%X"#0':%7$%l%+5$"1#$+%,.%0$"(0.%="'%78%,./("?%"'%+$$%,@%"#6"%:6+%

:#6"% 3% :6.">% U("% "#6"% &,&.4"% #6//$.A% 3% &,&% "#$% &06:,.-% 78+$*@9% :,"#% 6% @(..8%@$$*,.-%"#,.5,.-%X"#,+%,+%.'"%:#6"%347%$&(16"$&%"'%&'4A%U("%:$%&,&%@,.&%6%+'*(",'.A2""2NPNK"QRR"SY"[ZN"ULOSRON]"XQP[UNM"MNNV"[S"cN"[PNQ]UL^"[ZPS\^Z"\LbLSaL"[NPPU[SPW+"

*ZQPRS[[N" PNMXSL]N]" aU[Z" PNYNPNLTN" [S" ZNP" XNPTNX[USL" SY" MSVN" SY" [ZN" XPSdNT[HM"TNL[PQR"QMXUPQ[USLM+"#L"ZNP"OUNaK"[ZN"MZQXN"SY"[ZN"NL[PQLTN"TS\L[NP"]UMPN^QP]N]"[ZN"SP^QLU_Q[USLHM" QVcU[USL" !"'% +,-.,@8% '/$..$++2+" -QMN]" SL" [ZUMK" MZN" \MN]" ZNP"ScRU^Q[USL"QM"Q"!1'N1'."0,)("'02"UL"[ZN"]NMU^L"XPSTNMM+"%ZN"QPTZU[NT[MK"SL"[ZN"S[ZNP"ZQL]K" aNPN" VSM[" RUbNRW" TSLY\MN]" cW" ZNP" ULU[UQ[UON+" .TTSP]UL^" [S" *ZQPRS[[NHM"h\S[Q[USL" QcSONK" [ZNW" ]U]LH[" QT[" QM" QPTZU[NT[M" UL" [ZUM" MU[\Q[USL+" #L" QPTZU[NT[\PQR"

"""""""""""""""""""""""""""""""""""""""""""!9"."^NLNPQR" QP^\VNL[" UL" [ZN"]UMT\MMUSL"SY" [ZN"LNa" [SaL"ZQRR" QM" QL" ULONM[VNL[K" ZSaNONPK"aQM" [ZQ[" [ZN"N`XNLMNM"SY"[ZN"c\UR]UL^"aS\R]"TSVXNLMQ[N"YSP"[ZN"M\cM[QL[UQR"TSM[M"SY"[ZN"V\LUTUXQRU[W"Q]VULUM[PQ[USLHM"VQLW" N`XNLMUON" RNQMUL^" Q^PNNVNL[M+" (\N" [S" ^NLNPQR" ^PSa[Z" UL" [ZN" V\LUTUXQRU[WK" [ZN" SP^QLU_Q[USLHM"QT[UOU[UNM" ZQ]" N`XQL]N]" QL]" ZQ]" cNNL" MXPNQ]" S\[" SL" YUON" ]UYYNPNL[" Q]]PNMMNM" UL" [ZN" QPNQ+"7U[Z" Q" LNa"c\UR]UL^K"[ZN"QT[UOU[UNM"aS\R]"cN"QMMNVcRN]"QL]"[ZN"RNQMUL^"N`XNLMNM"QOSU]N]+""""

!?B""

]NMU^L"XPSTNMMNMK"TSLONPMQ[USLM"aU[Z" [ZN"TRUNL[" [ZQ[" RNQ]"[S"PN]PQY[M"QL]"PN]NMU^LM"QPN"LS["\LYQVURUQP+"7ZQ["MNNVM"[S"ZQON"VQ]N"[ZUM"MU[\Q[USL"]UYYNPNL["aQM"PQ[ZNP"[ZN"ULQXXPSXPUQ[N"[UVUL^"aU[Z"PN^QP]M"[S"[ZN"XRQLLN]"YU`[\PNMK"QL]"QRMS"[ZN"]UMRSTQ[USL"UL"PNMXSLMUcURU[W"cN[aNNL"[ZN"QPTZU[NT[M"QL]"[ZN"XPSTNMM"]NMU^LNPM"[ZQ["[ZN"ULTU]NL["MNNVN]"[S"TQ\MN+%"""

+R@=7CA=57!"*!"497>6==5!9@!M5@;8:57!

%ZN" RNONR" SY" ]N[QUR" UL" *ZQPRS[[NHM" UL[NPONL[USL" VU^Z[" QRMS" ZQON" TSLY\MN]" [ZN"QPTZU[NT[M+"2NPNK"MZN"UL[NPYNPN]"]UPNT[RW"aU[Z"[ZNUP"aSPbK" [PWUL^"[S"TSVN"\X"aU[Z"Q"cN[[NP" ONPMUSL+" %ZUM" UM" Q" XSUL[" [ZQ[" VU^Z[" TZQPQT[NPU_N" Q" VSPN" ^NLNPQR" TZQRRNL^N"cN[aNNL"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"QPTZU[NT[\PQR"]NMU^L+"#L"QL"UL[NPOUNaK"SLN"SY"[ZN"QPTZU[NT[M"UL"[ZN"%SaL"2QRR"XPSdNT["XSUL[M"S\["[ZQ[1"""!=m?$08%@$:%'0&,.608%/$'/*$%60$%16/6)*$%'@%1'7/0$#$.&,.-%#':%"#$8%:'(*&%)$%

:$**%+$6"$&%,.%6%+/6",6*%*68'("Q%:#$0$%"'%+,"9%:#$"#$0%"#$%"6)*$+%+#'(*&%)$%1,01(*60%'0%+C(60$A%E'%3%)6+,16**8%7$6.%"#6"%8'(%/(**%"#$%:''*%';$0%"#$,0%$8$+%)8%+68,.-%"#6"%X*$"%(+%-'%'("%=>?%6.&%&06:%(/%6%@$:%1#6*5%*,.$+%+'%8'(%16.%+#':%(+%#':%8'(4&%*,5$%"'%+,"4A2""""2UM"XSUL["ZQM"cNNL"S\[RULN]"MNONPQR" [UVNM"QcSON"UL"[ZUM" [ZNMUM+"#["h\NM[USLM"[ZN"

RNONRK" [S" aZUTZ" \MNPMK" !'0&,.608% /$'/*$29" QPN" YU[" [S" TSL[PUc\[N" [S" M\TZ" TSVXRN`"XPSTNMMNM" QM" [ZN" ]NONRSXVNL[" SY" QL" QPTZU[NT[\PQR" ]NMU^L+" .M" ]UMT\MMN]" QcSON" UL"MNT[USL"F-K"SLN"M\U[QcRN"QLMaNP"VU^Z["cN"[ZQ[" [ZNW"QPN"LS["YU["YSP" [ZN"[QMbK"]\N"[S"[ZN" RQTb" SY" N`XNPUNLTN" LNTNMMQPW" [S" \L]NPM[QL]" [ZN"aSPb" XPQT[UTN" [ZQ[" [ZN" Y\[\PN"c\UR]UL^"aS\R]"QT[\QRRW"QTTSVVS]Q[N+".LS[ZNP"QLMaNP"TS\R]"cN"[ZQ["U["PNYNPM"[S"Q"TSL[NVXSPQPW"MZUY[" UL"[ZN"PNRQ[USLMZUX"cN[aNNL"QPTZU[NT["QL]"TRUNL[K"]\N"[S"TNP[QUL"MSTUN[QR"[NL]NLTUNMK"QL]"[ZQ["[ZUM"MZUY["ZQM"UVXRUTQ[USLM+"'LN"SY"[ZNMN"UVXRUTQ[USLM"UM"[ZN" ULTPNQMUL^" [NL]NLTW" YSP" TRUNL[M" [S" PNh\UPN" Q" TRSMNP" ULOSRONVNL[" UL" [ZN"NVNP^NLTN" SY" [ZN" QT[\QR" ]NMU^L" MSR\[USL" lN+^+" 8SS" N[" QR+" 9EEBm+" 2NPNK" U[" MNNVM"UVXSP[QL["QL]"LNTNMMQPW"[S"]UMT\MM"aZN[ZNP"Q"TRSMNP" UL[NPQT[USL"cN[aNNL"QPTZU[NT["QL]"NL]"\MNP"aS\R]"]NXPUON"SP"XPSOU]N"[ZN"QPTZU[NT["Q\[ZSPU[W"UL"[ZN"]NMU^L"XPSTNMM+"#Y"aN"TSLMU]NP"NL]"\MNPM"QM"!1'N1'."0,)("'0+2"aZS"PNXPNMNL["Q"LNa"[WXN"SY"ULX\["[S"ULYSPV" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" [ZN" XPSTNMM" [ZPS\^Z" aZUTZ" [ZUM" ULX\[" UM"XPSOU]N]K" M[URR" MNNVM" \LTRNQP+"7ZNL" [ZN" QPTZU[NT[" h\NM[USLM" [ZN" \MNPHM" QcURU[W" [S"TSVXPNZNL]"[ZN"TSVXRN`U[W"SY"[ZN"MXQ[UQR"RQWS\["UL"Q"YSP[ZTSVUL^"c\UR]UL^K"ZN"QRMS"

!??""

h\NM[USLM" [ZN" XPSTNMMK" aU[ZUL"aZUTZ" [ZN" \MNPM" QPN" QMbN]" [S" TSL[PUc\[N+" 2NPNK" [ZN"!1#6*5% *,.$+2" VQW" ZQON" PNYNPPN]" [S" [ZN" ]NVQPTQ[USL" RULNMK" \MN]" UL" [ZN" !YQY%:'05+#'/+2" UL" [ZN" %SaL"2QRR" XPSdNT[K" aZNPN" [ZN" M[QYY" Q[" RQP^N" aZNPN" ULOU[N]" [S"TSL[PUc\[N"[S"]NMU^LUL^"[ZNUP"]NXQP[VNL[HM"MXQ[UQR"RQWS\[+""""""

+R@=7CA=57!0*!=45!;:M;@=;:A=!76>5!6G!=45!?76A5@@!M5@;8:57!

#L"[ZN"h\S[Q[USL"QcSONK"[ZN"QPTZU[NT["cPUL^M"[ZN"PSRN"SY"[ZN"XPSTNMM"]NMU^LNP"UL[S"[ZN" RUVN" RU^Z[+" %ZN" XPSTNMM" ]NMU^LNP" PNXPNMNL[M" [ZN" VN]UQ[SP" aZSK" UL" T\PPNL["c\UR]UL^"XPSdNT[M"RUbN"[ZN"%SaL"2QRRK"UM"VNQL["[S"MNT\PN"QL]"\XZSR]"[ZN"TRSMNLNMM"cN[aNNL" TRUNL[" QL]" QPTZU[NT[+" #L" [ZUM" XPSdNT[K" [ZN" ]UOUMUSL" SY" RQcSP" cN[aNNL" [ZN"XPSTNMM"]NMU^LNPM"QL]"[ZN"QPTZU[NT[M"aQM"h\U[N"]UM[ULT[K"]NMXU[N"SY"[ZN"\L[PQ]U[USLQR"QMXNT[M"SY"[ZN"MN[\X!C+"2NPNK"cS[Z"XQP[UNM"M[\Tb"[S"[ZNUP"ULU[UQR"XSMU[USL"QL]"[ZNPNcW"MNT\PN]" Q" M[QcRN" PNRQ[USLMZUX" [ZPS\^ZS\[" [ZN" XPSdNT[+" -\[" UL" MU[\Q[USLM" RUbN" [ZN"PNLN^S[UQ[USL"SY"[ZN"NL[PQLTN"TS\L[NPK"[ZN"]NYULN]"]UOUMUSL"SY"RQcSP"aQM"TZQRRNL^N]K"aZUTZ"TQ\MN]"TSLY\MUSL"YSP"cS[Z"XQP[UNM+"*ZQPRS[[N"TZQPQT[NPU_N]"[ZUM"TSLY\MUSL"QM"!+'7$%@0,1",'.%,.%"$07+%'@%:#'%+#'(*&%"65$%"#,+%'.2+"%ZN"XSUL["S\[RULNM"[ZN"^NLNPQR"LSONR[W" [ZQ[" XNPVNQ[NM" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" Q" VN[ZS]" UL"QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM+" %ZN" XSMU[USL" QM" XPSTNMM" ]NMU^LNP" PNXPNMNL[M" Q"]UYYNPNL["VN[ZS]SRS^UTQR" QXXPSQTZK" UL"aZUTZ" [ZN" TRUNL[" SP^QLU_Q[USL" UM" MNNL" QM" Q"XPUVQPW" PNMS\PTN" [S" M\XXSP[" QL]" ULYSPV" [ZN" QPTZU[NT[\PQR" ]NMU^L" MSR\[USL+" #L"*ZQX[NP"!"#"XPSOUMUSLQRRW"S\[RULN]"[ZUM"TRUNL["XSMU[USL"QM"cNUL^"Q"nTSVXS\L]"cS]W"SY" \MNPMH+" %S" ^UON" [ZUM" ncS]WH" Q" TNL[PQR" PSRN" UL" [ZN" ]NMU^L" XPSTNMMK" XS[NL[UQRRW"PNRSTQ[NM"[ZN"S[ZNP"XRQWNPM"UL"[ZN"SP^QLU_UL^"SY"Q"c\UR]UL^"XPSdNT[+"2NPNK"[ZN"XPSTNMM"]NMU^LNP"VU^Z[" TSL[PUc\[N" [S" YQTURU[Q[UL^" M\TZ" PNRSTQ[USLK" c\[" [ZN" PSRN" QRMS" LNN]M"Y\P[ZNP"UL[NPPS^Q[USL"UL"SP]NP"[S"\LYSR]+""""

+R@=7CA=57!'*!=45!:6=;6:!6G!a6?5:^!

.M" #" ZQON" UL]UTQ[N]" QcSON" UL" [ZUM" MNT[USLK" [ZN" LS[USL" SY" nSXNLH" VU^Z[" cN"TSLMU]NPN]" Q" XQPQ]S`" UL" [ZUM" TSL[N`[+" *ZQPRS[[N" cQMN]" ZNP" [PQLMRQ[USL" SY" [ZN"XPSdNT[HM" TNL[PQR" QMXUPQ[USLM" SL" ZNP" N`XNPUNLTN" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMg"UL[NPLQR" ]UMT\MMUSLMg" SYYUTUQR" ]ST\VNL[MK" QL]" S[ZNP" [ZUL^M+" -\[" QM" ]UMT\MMN]" UL"

"""""""""""""""""""""""""""""""""""""""""""!C" #L" [ZN"XPSdNT[K" [ZN"XPSTNMM"]NMU^LNP"aQM"ZUPN]"aU[Z"]UPNT["PNYNPNLTN" [S" [ZN"<(K"S\[MU]N"SY" [ZN"XPSdNT["TSLMSP[U\V"SY"TSL[PQT[SPK"QPTZU[NT["QL]"NL^ULNNP+"

!?,""

MNT[USL"F-K"[ZN"UVXRUTQ[USLM"SY"[ZN"LS[USL"SY"nSXNLH"VU^Z["UL]NN]"cN"MQU]"[S"ZQON"TQ\MN]"M\cM[QL[UQR"QL`UN[W"QVSL^"[ZN"M[QYY"Q["RQP^NK"UL"XQP[UT\RQP"aU[Z"PNYNPNLTN"[S"[ZN" SXNL" SYYUTN" RQWS\[+" 7ZQ[" TQVN" YSP[Z" QM" [ZN" NXU[SVN" SY" ZNP" QP^\VNL[" l[ZN"SP^QLU_Q[USLHM" QMXUPQ[USL" !"'% +,-.,@8% '/$..$++2mK" TSLONPMNRW" MNNV" ULTSVXQ[UcRN"aU[Z"[ZN"SP^QLU_Q[USLHM"PNMUM[QLTN"[S"[ZN"SXNL"RQWS\["QM"Q"M[P\T[\PQR"XPULTUXRN+"""

05@;8:!49??5:@!;:!A6:=;:C6C@!?76A5@@5@!6G!:586=;9=;6:!9:M!

A49:85!

.M" UL]UTQ[N]" UL" [ZN" XQPQ^PQXZM" QcSONK" [ZN" OQPUS\M" YQT[SPM" [ZQ[" M\XXSP[N]" QL]"ScM[P\T[N]"*ZQPRS[[NHM"QP^\VNL["VU^Z["cN"XNPTNUON]"QM"RULbM"UL"Q"TZQUL"SY"NONL[M+"#["aQM" [ZUM" LN[aSPb" [ZQ["VQ]N"\X"ZNP" QcURU[W" [S" LN^S[UQ[N" [ZN" MZQXN" SY" [ZN" NL[PQLTN"TS\L[NP" lN+^+"*QRRSL"QL]"5Q[S\P"!A,!K"*QRRSL"!A,BK"5Q[S\P"!AAAm+"7N"VU^Z[" MQW"[ZQ[" [ZN" UL]UM[ULT[" QMXUPQ[USL" SY" MU^LUYWUL^"!'/$..$++2" ^S[" YPQVN]" QL]" PNYPQVN]"[ZPS\^Z" *ZQPRS[[NHM" NVNP^UL^" QP^\VNL[+" %ZPS\^Z" [ZUM" XPSTNMMK" [ZN" QMXUPQ[USL"cNTQVN" VQ[NPUQRRW" NLQT[N]+" %ZUM" U]NQ" SY" PNYPQVUL^" UM" URR\M[PQ[N]" UL" ]UQ^PQV" ,"cNRSa+"2NPNK"[ZN"LN[aSPb"SY"QT[SPM"[ZQ["*ZQPRS[[NHM"QP^\VNL["aQM"QcRN"[S"VScURU_N"ULM[U^Q[NM" QL" UL[NPP\X[USL" [S" [ZN" ^NLNPQR" ]NMU^L" XPSTNMM+" %ZUM" ]UMP\X[USL" TQ\MNM" Q"]UMXRQTNVNL[K" aU[Z" PN^QP]M" [S" [ZN" SP^QLU_Q[USLQR" QM" aNRR" QM" [S" [ZN" QPTZU[NT[\PQR"]NMU^L+""

"3GHIJHK'7" MZSaM" [ZN"%SaL"2QRR"XPSdNT["QM"Q" [UVNRULNK" [S"aZUTZ"Q"VScURU_N]"LN[aSPb"SY"QT[SPM" ln*ZQPRS[[NHM"

LN[aSPbHm"ULU[UQ[NM"Q"XQP[UT\RQP"TZQL^N"[S"[ZN"]NMU^LlMm"Q["M[QbN"UL"[ZN"XPSdNT[+""

""#L" QL" UL[NPOUNaK" [ZN"<(" PNYRNT[M" SL" [ZN" ]NMU^L" SY" [ZN" NL[PQLTN" TS\L[NP" QM" Q"

TSL[UL\S\M"XPSTNMM"SY"LN^S[UQ[USL"QL]"TZQL^N1"""

!?A""

!G#$%D,",B$.%E$0;,1$%=D$."$0?%,+%6%0$6**8%-''&%,**(+"06",'.Q%,"%#6+.4"%8$"%@'(.&%,"+% @,.6*% 1'.@,-(06",'.A%T'"% $;$.%:,"#% 6%)$""$0% $."06.1$% 1'(."$0% '0%:,"#% 6% )$""$0%C($(,.-%+8+"$7A%3%"#,.5%:$4**%+$$%1'7/*$"$*8%&,@@$0$."%@'076"+%"'%"#,+%1'7,.-%(/%O%+'7$"#,.-%7'0$%'/$.%6.&%*$++%,.@*($.1$&%)8%1'(."$0+A%3"%,+%6%&$;$*'/7$."A2"""2NPNK"ZN"MNNVM"[S"PNYNP"[S"[ZN"U]NQ"cPS\^Z["YSP[Z"cW"MSVN"SY"[ZN"M[QYY1"[ZQ["SY"Q"

ZSM[" SP" ZSM[NMM" QM" Q" ]NOUTN" [S" QTTSVXQLW" TRUNL[M" QM" [ZNW" NL[NP" [ZN" [SaL" ZQRRK"VNL[USLN]" QcSON" UL" [ZUM" MNT[USL+" 6\TZ" Q" MSTUQR" [NTZLSRS^W" [S" M\XXSP[" [ZN"PNRQ[USLMZUX"cN[aNNL" [ZN"V\LUTUXQRU[W"Q]VULUM[PQ[USL"QL]" U[M"TRUNL[M"aS\R]" UL]NN]"cN"!7'0$% '/$.% 6.&% *$++% ,.@*($.1$&% )8% 1'(."$0+2+".L]" QM" U[" [\PLN]" S\[K" TZQL^NM"aU[Z"PN^QP]M"[S"[ZN"PNTNX[USL"QPNQ"QL]"[ZN"NL[PQLTN"TS\L[NP"aNPN"QRPNQ]W"\L]NPaQW"UL"[ZN"!D,",B$.%E$0;,1$%D$."$02+"#L"Q"M\cMNh\NL["NVQUR"TSPPNMXSL]NLTNK"*ZQPRS[[N"URR\M[PQ[NM" ZSa" [ZN" LN^S[UQ[USLM" SY" [ZNMN" ]NMU^LM" TSL[UL\N]K" QTTSP]UL^" [S" [ZN"SP^QLU_Q[USLHM"NOSROUL^"PNh\UPNVNL[M1"""!=M?$%#6;$%6*0$6&8%1#6.-$&%"#$%+$"(/%,.%"#$%0$1$/",'.%60$6%6.&%:$%6*+'%-'"%6.%

6-0$$7$."% "'% 765$% "#$% 1'(."$0% ,"+$*@% le% 17% :,&$0% =>?% ,.% '0&$0% "'% 10$6"$% 6.%,.10$6+$&%*$;$*%'@%&,+10$",'.%@'0%'(0%1*,$."+A2"".]]N]" [S" [ZUM" N`[NLMUSLK" Q" ]UM[ULT[" RNONR" ]UYYNPNLTN" ZQM" QRMS" STT\PPN]" UL" [ZN"

VU]]RN"SY"[ZN"NL[PQLTN"TS\L[NPK"aZUTZ"aQM"LS["[ZNPN"UL"[ZN"QXXPSON]"MbN[TZNM+"%ZUM"!&0'/2K"aZUTZ"UM"URR\M[PQ[N]"UL"XZS[S"!"QL]"9"cNRSaK"ZQM"QRMS"cNNL"QXXRUN]"Q["Q"RQ[NP"M[Q^N+"*ZQPRS[[N"N`XRQULM1"""!T'9%"#$%&0'/%#6+.4"%)$$.%"#$0$%6**%"#$%",7$A%3"%:6+%76&$%,.%"#$%.$:%;$0+,'.%+'%

"#6"% 1#,*&0$.% 6.&% &,+6)*$&% 16.% +,-.% "#$,0% /6++/'0"+A%a.@'0"(.6"$*89% "#$% &0'/% #6+%)$1'7$% "''% :,&$9% +'% "#6"% ="#,.-+% )$#,.&% "#$% 1'(."$0?% #6;$% )$1'7$% :68% "''%$</'+$&9%:#,1#%,+%:#8%:$%60$%.':%:'05,.-%'.%-$"",.-%"#$%1'(."$0%1*'+$&%"':60&+%"#$%6"0,(79%:,"#%6%+76**$0%&0'/%O%6//0'<,76"$*8%Y%7$"$0%O%.$<"%"'%"#$%1#$15N'("A2%%%2NPNK"[ZN"]NMU^L"XPSTNMM"TSL[UL\NM"QL]"[ZN"QVcU^\U[W"cN[aNNL"[ZN"TSLTNX[M"SY"

nSXNLH"QL]"nTRSMN]H"XNPMUM[M+""

!,E""

""""" "!WLULP','HQN'8"MZSa"[ZN"NL[PQLTN"TS\L[NP"UL"[ZN"PNTNX[USL"QPNQ"QM"U["QXXNQPN]"Q["[ZN"RQ\LTZ"UL"JQL\QPW"9EE,+""2NPNK"[ZN"!&0'/2"UL"[ZN"ScdNT[HM"XZWMUTQR"M[P\T[\PN"UM"QXXQPNL["UL"cS[Z"XZS[SM+"

""%ZPS\^Z"TSVXRUTQ[N]"XPSTNMMNM"SY"LN^S[UQ[USL"QL]"]NTUMUSLDVQbUL^K"*ZQPRS[[N"

M\TTNN]N]" UL"^N[[UL^" [ZN"NL[PQLTN"TS\L[NP" PN]NMU^LN]K" UL"SP]NP" YSP" U[" [S"cNTSVN"Q"aSP[ZW"PNXPNMNL[Q[UON"YSP"[ZN"XPSdNT[HM"TNL[PQR"QMXUPQ[USLM+"-QMN]"SL"ZNP"[PQLMRQ[USL"QL]"M\cMNh\NL["QcURU[W"[S"VScURU_N"M\XXSP["YSP"[ZUM"QP^\VNL[K"[ZN"XZWMUTQR"MWVcSR"NONL[\QRRW"Q]QX[N]"[S"M\U["[ZN"T\R[\PQR+"-\["QM"URR\M[PQ[N]"QcSONK"[ZN"]NMU^L"XPSTNMM"TSL[UL\N]+" #L" [ZN" YUPM[" SY" [ZN" [aS" h\S[NM" QcSONK" ZNP" [PQLMRQ[USL" SY" [ZN" TNL[PQR"QMXUPQ[USL"VU^Z[" PQ[ZNP"cN" MQU]" [S"VSON" [SaQP]M"XP\]NLTN+"2NPNK" MZN"NVXZQMU_NM"[ZN"NL[PQLTN"TS\L[NPHM"ScRU^Q[USL"!"'%10$6"$%6.%,.10$6+$&%*$;$*%'@%&,+10$",'.%@'0%'(0%1*,$."+2+"""%PQLMRQ[USLM"QPN"LNTNMMQPURW"SXNLDNL]N]+".M"aQM"QRMS"XSUL[N]"S\["QcSONK"aN"TQL"

UVQ^ULN"Q"MU[\Q[USLK" UL"aZUTZ"[ZN"TZQUL"SY"QP^\VNL[M"TQVN"S\["]UYYNPNL[RW1"aZNPN"[ZN"XZWMUTQR"ScdNT["aS\R]"M[QW"X\["aZURN"[ZN"T\R[\PQR"UL[NPXPN[Q[USL"lSY"[ZN"ScdNT[m"aS\R]"cN"PNLN^S[UQ[N]"QL]"PNQ]QX[N]+"<Q[[NPM"Sc[QUL"VNQLUL^"[ZPS\^Z"[ZN"LN[aSPb"SY"QT[SPM"[ZQ["ULYSPV"[ZNUP"TSL[NL[+"#L"[ZUM"XNPMXNT[UON"aN"VU^Z["XNPTNUON"SP^QLU_N]"NL]" \MNP" XQP[UTUXQ[USL" QM" Q" MU[\Q[N]" ONZUTRN1" aZNL" UL[PS]\TN]" [S" LNa" QT[SPM" [ZQ["ULYSPV"LNa"LN[aSPbMK"[ZN"PNM\R[M"TS\R]"YQRR"S\["]UYYNPNL[RW+"#["YSPVM"QL"SXXSP[\LU[W"[S" TSL[UL\S\MRW" LN^S[UQ[N" cQRQLTN" UL" TSL[N`[M" [ZQ[" QPN" LNTNMMQPURW" PNXPNMNL[N]" cW"TSLM[QL["TZQL^NM"QL]"]NONRSXVNL[MK"QM"aN"bLSa"[ZNV"UL"SP^QLU_Q[USLQR"RUYN+"#L"[ZN"%SaL"2QRR"XPSdNT[K"QL"N`[NL]N]"QVS\L["SY"XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"N`XRSPN]"QM"Q" VNQLM" [S" MNT\PN" Q" TRSMNP" RULb" cN[aNNL" [ZN" ]NMU^L" QL]" [ZN" QT[UOU[UNM" U[" aQM"M\XXSMN]"[S"QTTSVVS]Q[N+"#L"QL"UL[NPOUNaK"[ZN"<("PNYRNT[M"SL"*ZQPRS[[NHM"PNQT[USL"[S" [ZN" MbN[TZ"SY" [ZN" NL[PQLTN" TS\L[NPK"aU[Z" PNYNPNLTN" [S"ZSa"TSLONPMQ[USLM" QcS\["[ZN"QPTZU[NT[\PQR"VU^Z["NLZQLTN"[ZN"QcURU[W"[S"TSVXPNZNL]"[ZN"SP^QLU_Q[USLQR1"""

!,!""

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h\S[Q[USLK"[ZN"<("TSLM[P\T[M"[ZN"RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"QL]"[ZN"

SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM1" cN[aNNL" [ZN" TNL[PQR" QMXUPQ[USLM" l!"#$% :68% '@%"#,.5,.-% "#6"%#6+%)$$.% @(.&67$."6*% @'0% "#$%:#'*$%1,",B$.%+$0;,1$%1'.1$/"9% "#6"% ,+9%X"#$%'/$.49%X"#$%"':.%#6**4+%$<"$0.6*%@61$49%X6%#$*/,.-%#6.&%"'%"#$%1*,$."+42K"QL]"[ZN"MXQ[UQR" YPQVNaSPb" [ZNMN" MZS\R]" cN" PNXPNMNL[N]" cW" l[ZN" !/#8+,16*% +(//'0"2m+" 2N"TSLLNT[M"[ZN"M[QYYHM"QcURU[W"[S"!&'%"#$,0%F')2"[S"[ZN"M\XXSP["YPSV"[ZN"MXQ[UQR"RQWS\[K"QL]" cPUL^M" [ZN" ]UMT\MMUSL" YSP[Z" [S" Q"VSPN" ^NLNPQR" RNONR"aU[Z" PN^QP]M" [S"!#':% 6%D,",B$.%E$0;,1$%+#'(*&%)$%6006.-$&2+"2NPNK"ZN" UL]UTQ[NM" [ZQ["SLN"PNRNOQL["aQW" [S"]UMT\MM"[ZN"SP^QLU_Q[USL"SY"M\TZ"Q"]NXQP[VNL[K"aZUTZ"UM"Q"TNL[PQR"Z\c"UL"V\LUTUXQR"Q]VULUM[PQ[USLM"UL"TSL[NVXSPQPW"(NLVQPbK"UM"[ZPS\^Z"[ZN"MXQ[UQR"RQWS\[+"7U[Z"M\TZ"QL"QXXPSQTZK"MXQTN"VU^Z["cN"MQU]"[S"^QUL"Q"TNL[PQR"M[PQ[N^UT"XSMU[USL+"""

!3"4+#0&!"88%#$4&

%ZUM"MNT[USL"ZQM"URR\M[PQ[N]"ZSa"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"MNNVM"[S"ZSR]"[ZN"XS[NL[UQR" [S"VSR]"SP" ULYR\NLTN"[ZN"NVNP^NLTN"SY"QL"QPTZU[NT[\PQR"]NMU^L+"7U[Z"[ZN" MbN[TZNM" SY" Q" XQP[UT\RQP" QPTZU[NT[\PQR" ScdNT[K" QL" NL[PQLTN" TS\L[NPK" M\cM[QL[UQR"TZQL^NM" aNPN" ULU[UQ[N]K" aZUTZ" ULOSRON]" [ZN" SP^QLU_Q[USLQR" QM" aNRR" QM" [ZN"QPTZU[NT[\PQR"]NMU^L+"'L"[ZUM"cQMUMK"Q"YNa"QLQRW[UTQR"XSUL[M"ZQON"STT\PPN]+""%ZN"M[SPWHM"XSUL["SY"]NXQP[\PN"aQM"[ZQ["Q"M[QYY"VNVcNPK"*ZQPRS[[NK"aZS"ZQ]"cNNL"

QT[UONRW"ULOSRON]"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USLK"PN[\PLN]"QY[NP"LULN"VSL[ZMH"RNQON"SY" QcMNLTN+" &N[\PLUL^" [S" [ZN" MTNLNK" MZN" YS\L]" ]NONRSXVNL[M" UL" [ZN" QPTZU[NT[\PQR"]NMU^L" [ZQ[" M\cM[QL[UQRRW" VUMVQ[TZN]" ZNP" N`XNT[Q[USLMK" aU[Z" PNYNPNLTN" [S" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"MZN"ZQ]"cNNL"ULOSRON]"UL"cNYSPN"ZNP"RNQON"SY"QcMNLTN+"#L"[ZUM"

!,9""

MU[\Q[USLK" XQP[UTUXQ[USL" cNTQVN" Q" VN]U\VK" [ZPS\^Z" aZUTZ" *ZQPRS[[N" \L]NP[SSb"XQP[UT\RQP" [PQLMRQ[USLM" SY" [ZN" SP^QLU_Q[USLHM" M[PQ[N^UT" QMXUPQ[USLM+" -QMN]" SL" ZNP"XPNOUS\M" N`XNPUNLTNK" MZN" ULU[UQ[N]" Q" M\cM[QL[UQR" TZQL^N" XPSTNMM" [ZQ[" LS[" SLRW" ZQ]"UVXRUTQ[USLM" SL" [ZN" MZQXN" SY" [ZN" NL[PQLTN" TS\L[NP+" #[" QRMS" ULOSRON]" [ZN"SP^QLU_Q[USLQR"]NMU^L+"""=PSV" [ZN"]UMT\MMUSLM" UL"MNT[USL"F-"aN"bLSa" [ZQ[" [ZN"cQRQLTN"cN[aNNL" nSXNLH"

QL]"nTRSMN]H"ZQ]"PNQTZN]"Q"MNLMN"SY"M[QcURU[W"QVSL^"[ZN"M[QYY+"%ZPS\^Z"Q"M\cM[QL[UQR"QVS\L[" SY" XQP[UTUXQ[USL" QT[UOU[UNMK" [ZN" SP^QLU_Q[USL" ZQ]" [QRbN]" [ZNUP"aQW" [ZPS\^Z"[ZN" UVXRUTQ[USLM" SY" [ZN" SXNL" SYYUTN" RQWS\[+" 6bNX[UTUMV" [SaQP]M" [ZUM" M[P\T[\PQR"XPULTUXRN" XNPMUM[N]" [ZPS\^ZS\[" [ZN" XPSdNT[K" c\[" [ZN" QcURU[W" [S" ]UMT\MM" U[" QL]"TSVXPNZNL]"U[M"TSL[NL[K"QRMS"ULTPNQMN]+"7ZNL"*ZQPRS[[N"PN[\PLN]"[S"[ZN"MTNLN"QY[NP"ZNP" RNQONK" MZN" ]UMP\X[N]" [ZN" MNLMN" SY" TSL[UL\U[W" SP" M[QcURU[WK" aU[Z" PN^QP]M" [S" [ZN"LS[USL"SY"nSXNLH+"2NPNK"*ZQPRS[[NHM"[PQLMRQ[USL"SY"Q"OQ^\N"SP^QLU_Q[USLQR"QMXUPQ[USL"l!"'%+,-.,@8%'/$..$++2m"QL]"ZNP"QcURU[W"[S"^QUL"MXSbNMVQLDMZUX""VQ]N"ZNP"TQXQcRN"SY"ULU[UQ[UL^"TNP[QUL"]NMU^L"Q]d\M[VNL[M+"#L"[ZUM"aQWK"aN"TS\R]"MQW"[ZQ["ZNP"ULU[UQ[UON"TQ\MN]" Q" ]UMP\X[USLK" aZUTZ" Q^QUL" TQ\MN]" Q" ]UMTSL[UL\U[WK" aU[Z" PNYNPNLTN" [S" [ZN"M[QcURU[W" [ZQ[" ZQ]" NM[QcRUMZN]" UL" [ZN" SP^QLU_Q[USL+"2QOUL^" cNNL" SL" RNQON" YSP" LULN"VSL[ZMK"*ZQPRS[[N"cNTQVN"[ZN"SP^QLU_Q[USLHM"naUR]"TQP]HK"aZS"cNTQVN"QcRN"[S"YSPV"nTSLLNT[USLMH" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM+"(UMNL^Q^N]" YPSV" [ZN" TSRRNT[UON"MNLMNVQbUL^"XPSTNMMK"MZN"ULU[UQ[N]"Q"TZQL^N"NONL["[ZQ["PNUL[PS]\TN]"[ZN"U]NQ"SY"[ZN"SP^QLU_Q[USL"QM"nSXNLHK"YSP"N`QVXRN"aU[Z"PNYNPNLTN"[S"aPU[[NL"XPSdNT["S\[RULNM+""$S[" SLRW" ]U]" ZNP" ULU[UQ[UON" UL]\TN" TZQL^N" SL" QL" SP^QLU_Q[USLQR" ]NMU^L" RNONR+"

.RMSK" ZNP" MXSbNMVQLDMZUX" ULOSRON]" Q" TSVXRN`" LN[aSPb" SY" TSVXSLNL[M" [ZQ["[S^N[ZNP"YSPVN]"[ZN"QP^\VNL["[ZQ["TQ\MN]"QL"QPTZU[NT[\PQR"PN]NMU^L+"."TNL[PQR"XSUL["[ZQ[" [ZUM" M[SPW"]UMTRSMNM"VU^Z[" [Z\M"cN" [ZQ["]NMU^L"TSL[N`[M"QPN"\LM[QcRN+"6[QcURU[W"VQW"QTT\V\RQ[N"QM"aN"Sc[QUL"bLSaRN]^N"QL]"QM"aN"VS]UYW"QL]"TZQL^N+"%ZUM"^SNM"YSP" [ZN" NVNP^NLTN" SY" SP^QLU_Q[USLQR" QM" aNRR" QM" QPTZU[NT[\PQR" ]NMU^L+" -\[" [ZNMN"]NMU^L" MN[[UL^M" QPN" QRaQWM" XS[NL[UQRRW" M\cdNT[" [S" ]UMP\X[USLM" QL]" [Z\M" [S"]UMTSL[UL\U[Wg" MSVNSLN" SP" MSVN[ZUL^" [ZQ[" [\PLM" \X" QL]" [ZQ[" ZSR]M" Q" ]UYYNPNL["OUNaXSUL[" YPSV" [ZN" SLN" [ZQ[" UM" NM[QcRUMZN]+" 7ZNL" *ZQPRS[[N" PN[\PLN]" YPSV" ZNP"RNQONK"MZN"RSSbN]"Q["[ZN"NONL[M"YPSV"Q"]UYYNPNL["XNPMXNT[UON+"=PSV"[ZUM"QR[NPLQ[UON"OUNaXSUL[K" MZN" \L]NP[SSb" ZNP" [PQLMRQ[USLM" QL]" M[QP[N]" [S" MZQXN" ZNP" QP^\VNL[M+"'P^QLU_Q[USLQR" RUYN" UM" Y\RR" SY" ]UMP\X[USLM" QL]" ]UMTSL[UL\U[UNM" SY" [ZUM" bUL]+" 7ZNL"*ZQPRS[[NHM"M[SPW"cNTSVNM"XQP[UT\RQPRW"UL[NPNM[UL^"[S"VW"X\PXSMN"ZNPNK"U["UM"cNTQ\MN"

!,C""

U["URR\M[PQ[NM"Q"RULb"cN[aNNL"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"6ZN"QXXRUNM"QPTZU[NT[\PQR"]NMU^L"YNQ[\PNM"QM"Q"VNQLM"[S"\L]NP[QbN"QL"SP^QLU_Q[USLQR"[PQLMRQ[USLK"QL]"SL"[ZUM"cQMUM"MZN"ULU[UQ[NM"QL"QPTZU[NT[\PQR"PN]NMU^L+"""#L" [ZNMN" [aS" MNT[USLM" lF-" QL]" F*mK" #" ZQON" URR\M[PQ[N]" QL]" ]UMT\MMN]" ZSa"

SP^QLU_Q[USLQR" UMM\NM"aNPN"cPS\^Z[" YSP[ZK" UL" [ZN"TS\PMN"SY"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM+"#L"cS[Z"M[SPUNMK" [ZN"LS[USL"SY"nSXNLH"XRQWN]"Q"TNL[PQR"PSRN+"2NPNK"nSXNLH"MNNVM"[S"PNXPNMNL["Q"h\QRU[W"[ZQ["VS]NPL"X\cRUT"SP^QLU_Q[USLM"QUV"[S"cN"PNXPNMNL[N]"cWK" QL]" [Z\M" Q" YNQ[\PN" [ZQ[" [ZN" PNTNL[RW"VNP^N]"V\LUTUXQRU[W" Q]VULUM[PQ[USL"aQM"M[PUOUL^" YSP+" #L" [ZN" M[SPW" QcS\[" [ZN" %SaL" 2QRR" XPSdNT[K" [ZUM" YNQ[\PN" TSVNM" YSP[Z"[ZPS\^Z" MXQ[UQR" YQT[SPM" l[ZN" SXNL" SYYUTN" RQWS\[" QL]" [ZN" NL[PQLTN" TS\L[NPm" [ZQ["cNTSVN" ]PUONPM" UL" [ZN" LQPPQ[UON" QL]" ONZUTRNM" [S" ]UMT\MM" OQPUS\M" SP^QLU_Q[USLQR"UMM\NM+" #L" [ZUM" aQWK" [ZN" ]NMU^L" SY" QL" QPTZU[NT[\PQR" ScdNT[" VU^Z[" cN" MNNL" QM" QL"SXXSP[\LU[W"[S"N`XRSPN"[ZN"QMM\VX[USL"[ZQ["[ZN"VS]NPL"X\cRUT"SP^QLU_Q[USL"MZS\R]"QUV"[S"PNYRNT["SXNLLNMM+""" "

!,;""

"#$%&'(!N*!&#'!K.d$0+!#+12'!

%(+`'"&>?!

"

+#$(",-!$+"#&&

#L" [ZUM" TZQX[NPK" #" QUV" [S" \LYSR]" [ZN" M[SPW" SY" [ZN" ]NONRSXVNL[" SY" [ZN"<UbQ]S"2S\MN" XPSdNT[+"-QMN]"SL" [ZUM" ]NMU^L"XPSTNMMK"(QLUMZ" QPTZU[NT[\PN" YUPVK".PbU[NVQ"Q[[NVX[N]" [S"N`XRSPN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"QL" UL[N^PQ[N]"XQP["SY" [ZN"YUPVHM" QPTZU[NT[\PQR" ]NMU^L" XPQT[UTN+" %ZN" XPSdNT[" ZNR]" MNONPQR" ScdNT[UONM+" =UPM[K" U["QUVN]" [S" ]NMU^L" QL]" c\UR]" Q" ZS\MN" [S" QTTSVVS]Q[N" .PbU[NVQHM" QT[UOU[UNM" UL"*SXNLZQ^NL+" 6NTSL]K" U[" QUVN]" [S" NM[QcRUMZ" Q" LNa" VN[ZS]" [S" cN" QXXRUN]" UL".PbU[NVQHM" XPS]\T[" XSP[YSRUSK" UL" aZUTZ" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" aQM" QL"UVXSP[QL["TSVXSLNL[+"%ZN"[aS"QMXUPQ[USLM"VU^Z["cN"MQU]"[S"ZQON"MNPON]"QM"ONZUTRNM"[S" M\XXSP[" Q" RQP^NP" TS\PMN" [ZQ[" ULOSRON]" [ZN" YUPVHM" QMXUPQ[USL"aU[Z" PN^QP]M" [S" U[M"Y\[\PN" XPQT[UTN+" 2NPNK" TZQPQT[NPUM[UTM" M\TZ" QM" !5.':*$&-$N+#60,.-2" QL]" !10'++N&,+1,/*,.6082"aNPN"PNXNQ[N]RW"cPS\^Z["YSP[Z+"%ZUP]K"Q"XQP["SY"[ZUM"RQP^NP"TQ\MN"aQM"QRMS" [S" \L]NP[QbN" Q" M\cM[QL[UQR" PNTSLYU^\PQ[USL" SY" [ZN" SP^QLU_Q[USLHM" M[P\T[\PQR"

"""""""""""""""""""""""""""""""""""""""""""!;" %aS" [ZUL^M" MZS\R]" cN" LS[N]" aU[Z" PN^QP]M" [S" [ZN"<UbQ]S" 2S\MN" XPSdNT[+" =UPM[K" [ZN" XPSdNT[" ZQM" cNNL"M\cdNT[N]" [S" M\cM[QL[UQR" TZQL^NM" \L]NPaQW+" %ZNMN" TZQL^NM" MU^LUYUTQL[RW" TZQL^N]" [ZN" TSL]U[USLMK" \XSL"aZUTZ"[ZN"XPSdNT["aQM"c\UR[+".M"QL"QPTZU[NT[\PQR"]NMU^L"XPSdNT["q%ZN"<UbQ]S"2S\MNr"aNL["[ZPS\^Z"Q["RNQM["[aS"VQUL"XZQMNM+"%ZN"YUPM["XZQMN"UM"[ZN"SLN"[ZQ["ZQM"cNNL"N`XRSPN]"UL"[ZUM"M[\]W+"#["aQM"UL"[ZUM"XZQMN"[ZQ["[ZN" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" aQM" UL[PS]\TN]" QM" QL" UL[N^PQ[N]" XQP[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L"XPSTNMM"QL]"Q"^PS\X"SY"XPSTNMM"]NMU^LNPM"aNPN"ULTR\]N]"UL"[ZN"]NMU^L"[NQV+"7ZNL"#"PNYNP"[S"[ZN"<UbQ]S"2S\MN"XPSdNT["UL"[ZUM"[ZNMUMK"U["UM"[Z\M"[ZN"YUPM["XZQMN"#"PNYNP"[S"l\LRNMM"S[ZNPaUMN"UM"XSUL[N]"S\[m+"6NTSL]K"[ZN" XPSdNT[HM" SYYUTUQR" LQVN" q%ZN"<UbQ]S" 2S\MNr" aQM" UL" YQT[" LS[" NM[QcRUMZN]" UL" [ZN" YUPM[" XZQMN" SY" [ZN"XPSdNT[K"aZUTZ"UM"[ZN"XNPUS]"SY"[UVN"[ZQ["VW"M[\]W"PNYNPM"[S+".M"[ZN"XPSdNT["]U]LH["ZQON"Q"LQVN"Q["[ZQ["[UVNK"c\[" PQ[ZNP"VQLW" XS[NL[UQR" LQVNM" [ZQ["aNPN" \MN]" PQL]SVRW" lYSP" N`QVXRN" %ZN".D2S\MNg" %ZN".PbU[NVQD2S\MNg" %ZN"fPNM[Q]MD2S\MNg" %ZN"GURLU\MDXPSdNT[K" QL]"VSPNmK" #" ZQON" Q]SX[N]" [ZN" LQVN" SY" [ZN"<UbQ]S"2S\MNK"aZUTZ"UM"[ZN"LQVN"SY"[ZN"YULQR"c\UR]UL^"l]\N"[S"cN"RQ\LTZN]"UL"9E!Em+"""

!,F""

YPQVNaSPb+" %ZN" X\PXSMN" SY" M\TZ" Q" PNQPPQL^NVNL[" aQM" LS[" SLRW" [S" ]NONRSX" [ZN"YUPVHM"^NLNPQR"c\MULNMM"M[PQ[N^W"QL]"[S"VNN["T\PPNL["MSTUN[QR"PNh\UPNVNL[M+" #["aQM"QRMS"[S"QTTSVVS]Q[N"SP^QLU_N]"XQP[UTUXQ[USL"QM"Q"VN[ZS]+"%ZN"YSRRSaUL^"[N`["aURR"XPN]SVULQL[RW"YST\M"SL"[ZN"YUPM["[aS"ScdNT[UONM+""""#["UM"UVXSP[QL["[S"NVXZQMU_N"[ZQ[".PbU[NVQHM"SaL"M[QYY"VNVcNPM"\XZNR]"VSM["SY"

[ZN" PSRNM" UL" [ZN" XPSdNT[" lQM" TRUNL[K" NL]" \MNPK" QPTZU[NT[K" QL]" XPSTNMM" ]NMU^LNPmK" Q"MU[\Q[USL"[ZQ["UL]NN]"VQ]N"[ZN"MN[\X"\L[PQ]U[USLQR"QL]"UL"MNONPQR"aQWM"UL[PUTQ[N+"%ZN"XPSdNT[" \L]NP[SSb" M\cM[QL[UQR" M[P\T[\PQR" TZQL^NM" ]\PUL^" [ZN" TS\PMN" SY" VW" M[\]WK"aZUTZ"QRMS"TZQL^N]".PbU[NVQHM"PSRN+"'LN"SY"[ZNMN"TZQL^NM"ULOSRON]"Q"RQP^N"XPSdNT["N`[NLMUSLK" \XSL" aZUTZ" LNa" ULONM[SPM" [SSb" SONP" [ZN" XPSdNT[" QL]" [Z\M" QRMS" [ZN"XSMU[USL"SY"TRUNL["lQM"c\UR]UL^"SaLNP"PQ[ZNP"[ZQL"NL]"\MNP"PNXPNMNL[Q[UONm+"""#"ZQON"SP^QLU_N]"[ZN"TZQX[NP"UL"[ZN"YSRRSaUL^"aQW1"#L"MNT[USL"B."#"YUPM["XPNMNL["

.PbU[NVQK"[ZN"YUPV"QL]"U[M"QPTZU[NT[\PQR"]NMU^L"XPQT[UTN+"2NPNK"#"Q[[NVX["[S"N`XRQUL"[ZN"RQ[[NP"cW"M\^^NM[UL^"[aS"XQP[UT\RQP"QXXPSQTZNM"[S"[ZN"]NMU^L"XPQT[UTN"[ZQ["MNNV"[S"TZQPQT[NPU_N"[ZN"YUPVHM"T\PPNL["aQW"SY"aSPbUL^+"'L"[ZUM"cQMUMK"#"MNTSL]"XPSOU]N"Q"MNh\NL[UQR" ]NMTPUX[USL" SY" [ZN" VQUL" NONL[M" [ZQ[" TSLM[U[\[N]" [ZN" <UbQ]S" 2S\MN"XPSdNT[K"QM"Q"]NMU^L"XPSTNMM+"2NPNK"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"aQM"UL[PS]\TN]"QM" Q" VN[ZS]" [S" M\XXSP[" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" %ZN" VN[ZS]" aQM" LS["NM[QcRUMZN]"UL"[ZN"YUPV"Q["[ZN"[UVN+"&Q[ZNPK"[ZN"<UbQ]S"2S\MN"XPSdNT["aQM"MNNL"QM"[ZN" YPQVNaSPbK" aU[ZUL" aZUTZ" [ZN" VN[ZS]" TS\R]" NVNP^N" QL]" cN" N`XRSPN]+" %ZN"M\cMNh\NL["[aS"MNT[USLMK"B-"QL]"B*K"YSPV"[ZN"QLQRW[UTQR"XQP["SY"[ZN"TZQX[NP+"2NPNK"#"RSSb"VSPN" TRSMNRW" UL[S" MSVN" SY" [ZN" NONL[M" UL" [ZN" XPSdNT[K" UL" SP]NP" [S" \L]NPM[QL]"VSPN" QcS\[" [ZN" UVXRUTQ[USLM" [ZQ[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" VU^Z[" PNXPNMNL[" YSP"]NMU^LNPMK"QM"Q"VN[ZS]+"""#L" MNT[USL" B-K" #" RSSb" UL[S" [ZN" TSRRQcSPQ[USL" cN[aNNL" [ZN" [aS" ^PS\XM" SY"

XPSYNMMUSLQRM"[ZQ["YSPVN]"[ZN"XPSdNT[HM"]NMU^L"[NQV1"[ZN"QPTZU[NT[M"QL]"[ZN"XPSTNMM"]NMU^LNPM+" #L" [ZN"XPSdNT[K" [ZN"VNVcNPM"SY" [ZN"]NMU^L" [NQV"QUVN]" [S"TQPPW"S\[" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"aZURN"Q["[ZN"MQVN"[UVN"N`XRSPN"NL]"\MNP"XQP[UTUXQ[USL"QM" Q"VN[ZS]" [S" ULYSPV" [ZN" ]NMU^L" MSR\[USL+"2NPNK" [ZNW" [PUN]" [S" TSVXPNZNL]"aZQ["aNL[" SL" QPS\L]" [ZNVK" UL" SP]NP" [S" ]NONRSX" Q" ]NMU^L" TSLTNX[" QL]" [S"VQUL[QUL" [ZN"QT[USL" SY" ]NMU^LUL^+" #L" [ZN" [N`[K" #" XPNMNL[" OQPUS\M" N`QVXRNM" SY" [ZN" ]NMU^L" [NQVHM"Q[[NVX[M"[S"VQbN"MNLMN"SY"[ZN"NONL[M"[ZNW"aNPN"M\cdNT[N]"[SK"QL]"MSVN"XPSXSMU[USLM"[S" N`XRQUL" [ZNUP" M[P\^^RN+" #" QXXPSQTZ" [ZNMN" NONL[M" QL]" NYYSP[M" QM" XPSTNMMNM" SY"

!,B""

SP^QLU_Q[USLQR" MNLMNVQbUL^K" QM" ]UMT\MMN]" cW" /QPR" 3+" 7NUTb" QL]" S[ZNPM" l7NUTb"!A?AK"!AAFK"9EE!K"9EE9K"9EEBK"7NUTb"QL]"-PSaLUL^"!A,BK"7NUTb"N["QR+"9EEFm+"""#L" MNT[USL" B*K" #" YST\M" SL" ZSa" TNP[QUL" PNM\R[M" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"

aNPN" cPS\^Z[" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" QM" Q" VNQLM" [S" M\XXSP[" [ZN"XPSTNMM"SY"]NMU^LUL^+"%ZN"XSUL["SY"]NXQP[\PN"UL"[ZN"M[SPW"UM"ZSa"[ZN"VN[QXZSP"SY"Q"ZNRU`" TQVN" [S" YSPV" Q" XSUL[" SY" PNYNPNLTN" UL" [ZN" XPSTNMMK" QL]" ZSa" [ZUM" PNYNPNLTN"MNNVN]"[S"[PQONR+"%ZPS\^Z"N`[NL]N]"XPSTNMMNM"SY"[PQLMRQ[USLM"QL]"LN^S[UQ[USLMK"[ZN"ZNRU`" MNNVN]" [S" TUPT\RQ[N" [ZPS\^Z" ]UYYNPNL[" MZQXNMK" PNXPNMNL[UL^" Q" XSUL[" SY"PNYNPNLTN"[S"[ZN"XQP[UTUXQL[M"UL"[ZN"XPSdNT[+"#L"[ZN"[N`[K"#"QUV"[S"]UMT\MM"QL]"URR\M[PQ[N"aZQ["[ZN"ZNRU`"MNNVN]"[S"PNYNP"[SK"QL]"QRMS"[ZN"OQPUS\M"YSPVQ[M"[ZQ["U["[SSb"SL+"(\N"[S" MNONPN" TZQL^NM" UL" [ZN" VQPbN[" YSP" c\UR]UL^" ]NMU^LK" [ZN"<UbQ]S" 2S\MN" XPSdNT["aNL[" [ZPS\^Z" M\cM[QL[UQR"VS]UYUTQ[USLMK" ]\PUL^" [ZN" XPSTNMM+" #L" SP]NP" [S"VNN[" [ZN"XPSdNT[HM" LNa" YULQLTUQR" TSL]U[USLMK" [ZN" ]NMU^L" XPSTNMM" aQM" PNM[QP[N]K" QL]" [ZN"PNYNPNLTN"SY"[ZN"ZNRU`"aQM"RNY["cNZUL]+"#L"[ZN"RQM["XQP["SY"[ZN"MNT[USLK"#"cPUNYRW"[S\TZ"\XSL"aZN[ZNP"[ZN"YULQR"]NMU^L"SY"[ZN"ZS\MN"k"[ZN"SLN"[ZQ["VQ]N"U["[ZPS\^Z"[ZN"LNa"TSL]U[USLM" QL]" NONL[\QRRW" PNQTZN]" [ZN" TRUNL[HM" QTTNX[QLTNK"VU^Z[" cN" MQU]" [S" ZQON"M\TTNN]N]+" #L" SP]NP" [S" ]UMT\MM" [ZNMN" UMM\NM" SY" [PQLMRQ[USL" QL]" TUPT\RQ[USLK" QT[SPDLN[aSPb" [ZNSPW" aURR" MNPON" QM" Q" MS\PTN" SY" ULMXUPQ[USL" l5Q[S\P" !AA!K" !AAAK" 9EEBK".bPUTZ"!AA?m+"" '

!,?""

2'"&.+-!N$*!$-!.-&(+01"&.+-!

&+!$(d.&'K$!$-0!&+!&#'!

K.d$0+!#+12'!%(+`'"&!

'

$2%&)+(8&

.PbU[NVQ"MNNVM"[S"cN"SLN"SY"[ZN"YUPVM"UL"[ZN"YUNR]"SY"TSL[NVXSPQPW"QPTZU[NT[\PQR"]NMU^L"UL"(NLVQPb"[ZQ["UM"M\PPS\L]N]"cW"QVcUOQRNLTN+"-QMN]"SL"Q"M[PSL^"[PQ]U[USL"YSP"PNMU]NL[UQR"c\UR]UL^M"QL]"X\cRUT"XPSdNT[MK"[ZN"YUPV"MNNVM"[S"ZQON"bNX["Q"M[PSL^"UVQ^N"QM"[ZSPS\^Z"QL]"PNRUQcRN"aU[ZUL"[ZNMN"QPNQMK"[ZPS\^ZS\["[ZN"WNQPM+"""#L"!AAFK"[ZN"^PS\X"SY"YUON"YS\L]UL^"XQP[LNPM"N`[NL]N]"aU[Z"YS\P"LNa"SaLNPM!FK"

TSLT\PPNL[" [S" [ZQ[" [ZN" YUPVHM" VQLQ^NVNL[" M[P\T[\PN" QRMS" TZQL^N]+" 7U[Z" [ZUM"VQLQ^NPUQR"PNM[P\T[\PNK".PbU[NVQ"MNNVN]"[S"RQ\LTZ"Q"LNa"NPQ"UL"[NPVM"SY"[ZN"YUPVHM"M\cMNh\NL[" c\MULNMM" ]NONRSXVNL[+" %ZN" LNa"VQLQ^UL^" ]UPNT[SP" lNL[U[RN]" [ZN"<("YPSV" ZNPN" SLaQP]Mm" aQM" QRMS" Q" [PQULN]" QPTZU[NT[K" Q" VQLQ^NVNL[" XPULTUXRN" aU[Z"M[PSL^" [PQ]U[USLM" aU[ZUL" [ZN" XPSYNMMUSL" lN+^+" 0\[VQL" !A,,K" *\YY" !AA!K" 5QPMMSL"!AACm+"-\["UL"TSL[PQM["[S"[PQ]U[USLK"[ZN"LNa".PbU[NVQ"<("ZQ]"VQLW"TSL[NVXSPQPW"UL[NPNM[MK"aU[ZUL"QPNQM"RUbN"c\MULNMM"M[PQ[N^WK"^PSa[Z"QL]"^RScQRU_Q[USL+"""%ZUM"[\PL"[SaQP]M"n[ZN"LNaH"VU^Z["cN"MQU]"[S"ZQON"ZQ]"MU^LUYUTQL["UVXRUTQ[USLMK"

LS["SLRW"YSP"[ZN"YUPVHM"]NMU^L"XPQT[UTNK"c\["QRMS"SL"U[M"PNTS^LU[USL"UL"[ZN"YUNR]+"=SP"cN[[NPK"UL"[ZN"MNLMN"[ZQ["U["ZQM"cNTSVN"bLSaL"QM"Q"YUPVK"QcRN"[S"Q]QX["QL]"PNMXSL]"

"""""""""""""""""""""""""""""""""""""""""""!F"%ZNPN"ZQON"cNNL"[ZPNN"XQP[LNP"N`[NLMUSLM"UL".PbU[NVQ1"YPSV"F"[S"A"UL"!AAFg"YPSV"A"[S"!!"UL"9EE9"QL]"UL"9EEF"YPSV"!!"[S"!C+"

!,,""

h\UTbRW"[S"LNa"[NL]NLTUNM+"=SP"aSPMNK"UL"[ZN"MNLMN"[ZQ["[ZN"M[PSL^"YST\M"SL"[ZN"LNaK"VU^Z[" RNQ]" [S"VNPTNLQPW1"%ZQ["^PSa[Z"QL]"XPSYU[" PQ[ZNP" [ZQL"QPTZU[NT[\PQR"h\QRU[W"QL]" PNMXNT[" YSP" [ZN" [PQ]NK" YSPV" [ZN" YUPVHM" XSUL[" SY" ]NXQP[\PN+"-SPUL^" QL]" ]QPUL^K"[PQ]U[USLQR" QL]" N`XNPUVNL[UL^1" .PbU[NVQ" MNNVM" [S" cN" M\PPS\L]N]" cW" Q" TNP[QUL"[NLMUSLK"aZUTZ"VU^Z["cN"MNNL"QM"Q"XQP["SY"[ZN"YUPVHM"XPScRNVK"c\["QRMS"Q"XQP["SY"U[M"M\TTNMM+"""#L" Q" cR\L[" ONPMUSLK" SLN" VU^Z[" MQW" [ZQ[" .PbU[NVQ" UM" TZQPQT[NPU_N]" cW" [aS"

XSMU[USLM" [ZQ[" QPN" LS[" SXXSMU[NMK" c\[" aZUTZ" ULOSRON" ]UYYNPNL[" OUNaXSUL[M" [S"QPTZU[NT[\PQR"]NMU^L"XPQT[UTN+"%ZN"YUPM["XSMU[USL"PNXPNMNL[M"[ZN"[PQ]U[USLQR"YNQ[\PNM"SY"[ZN"[PQ]N1"U[M"YQVURUQP"VQPbN["QPNQM"QL]"]NMU^L"QXXPSQTZNMK"aZURN"[ZN"MNTSL]"Q[[NL]M"[S" T\PPNL[" [NL]NLTUNM" [ZQ["VU^Z[" ULYR\NLTN" [ZN" [PQ]NHM" YSP[ZTSVUL^"]NONRSXVNL[M+"2NPNK"[ZN"UVXRUTQ[USLM"[ZQ["M\TZ"TZQL^NM"VU^Z["UL]\TN"YSP"TSL[NVXSPQPW"QPTZU[NT[MK"QPN" UL" YST\M+" .R[ZS\^Z".PbU[NVQK" QM" QL" NM[QcRUMZN]" TSVXQLW" ZNQ]UL^" [SaQP]" U[M";EH[Z"QLLUONPMQPWK"VU^Z["cN"MQU]"[S"cN"cQMN]"UL"[ZN"YUPM["XSMU[USLK"Q"RS["SY"Q[[NL[USL"ZQM"cNNL"XRQTN]"SL"[ZN"RQ[[NP+"%ZUM"YST\M"ZQM"[QbNL"MZQXN"SY"ULONM[VNL[M"UL"OQPUS\M"N`XNPUVNL[QR" UMM\NM1" %ZN" ]NONRSXVNL[" SY" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" Q"cWXPS]\T[" [S" [ZN" YUPVHM" [PQ]U[USLQR" c\MULNMM" XSP[YSRUS" QL]" QRMS" [ZN" RQ\LTZ" SY" QL".PbU[NVQ"SYYUTN"UL"-NUdUL^"UL"9EE;K"PNXPNMNL["[aS"]UYYNPNL["N`QVXRNM"SY"[ZUM"YST\M"SL"LNa"VQPbN["SXXSP[\LU[UNM+"""%ZN" TSL[NL[" QL]" UVXRUTQ[USLM" [ZQ[" [ZNMN" [aS" XSMU[USLM" PNXPNMNL[" MNNV" [S"

VQ[NPUQRU_N"UL"]UYYNPNL["aQWM"UL"[ZN"YUPVHM"]QURW"XPQT[UTN+"7ZNL"XSUL[N]"S\["ZNPN"QM"SXXSMU[NMK"[ZN"X\PXSMN"UM"VNPNRW"[S"QXXSUL["[ZQ["NQTZ"XSMU[USL"QL]"[ZN"PNRQ[USLMZUX"cN[aNNL"[ZNV"MNNVM"[S"ZQON"ZQ]"MU^LUYUTQL["UVXQT["SL".PbU[NVQ"QM"Q"YUPV1"'L"[ZN"UL[NPLQR" MNLMN" SY" U]NL[U[WK" QM" aNRR" QM" SL" [ZN" N`[NPLQR" UVQ^N" l2Q[TZ" QL]" 6TZ\R[_"!AA?m+"""

$5"&,%4+0#&'(*!$+!%41&$2%&!3*44+!*3&*#,&$2%&.(+!"3*0%&

%ZN" [aS"XSMU[USLMK" XPSOUMUSLQRRW" UL]UTQ[N]" UL" [ZN" XQPQ^PQXZ" QcSONK" ZQON" cNNL"ZNRXY\RK"UL"SP]NP"YSP"VN"[S"cN"QcRN"[S"TSVXPNZNL]".PbU[NVQHM"]NMU^L"XPQT[UTN"QM"U["

!,A""

aQM"TQPPUN]"S\["UL"[ZN"<UbQ]S"2S\MN"XPSdNT[+"%ZN"XSMU[USLM"NM[QcRUMZN]"[ZNVMNRONM"QM"Q"bUL]"SY"XNPTNX[USLQR" [SSRK" [ZPS\^Z"aZUTZ" #"LQOU^Q[N]" [ZPS\^Z"OQPUS\M"NONL[M"[ZQ[" [SSb"XRQTN" UL" [ZN"XPSdNT[+"-NRSaK"#"QUV"[S"NRQcSPQ[N"SL" [ZN" U]NQ"SY" [ZNMN" [aS"XSMU[USLMK"cW"M\^^NM[UL^"QL"QLQRW[UTQR"]UM[ULT[USL"cN[aNNL"[ZNV"QM"[aS"QXXPSQTZNM"[S" [ZN" ]NMU^L" XPSTNMMK" cS[Z" SY" aZUTZ" MNNV" TZQPQT[NPUM[UT" SY" [ZN" T\PPNL[" ]NMU^L"XPQT[UTN"UL".PbU[NVQ+"""#" M\^^NM[" [ZN" YUPM[" XSMU[USL" cN" TQRRN]" n[ZN" TRQMMUTQR" ]NMU^L" XPQT[UTNHK" aZUTZ" UM"

cPSQ]RW" ]UOU]N]" UL[S" [aS" VQUL" YPQT[USLM" SY" XPSYNMMUSLQR" QPTZU[NT[M+" %ZN" YUPM["YPQT[USL" UM" ]UM[UL^\UMZN]"cW" [ZN" TSLTNX[\QR"aSPb" [ZQ[" ZQXXNLM"cNYSPN" Q" XPSdNT[" UM"NM[QcRUMZN]K" YSP" N`QVXRN" UL" PNRQ[USL" [S" QPTZU[NT[\PQR" TSVXN[U[USLM" lUL" .PbU[NVQ"NL[U[RN]"!"#$%1'7/$",",'.%601#,"$1"2m+"%ZN"MNTSL]"YPQT[USL"TSVXPUMNM"[ZN"QT[UOU[UNM"[ZQ[" [QbN" XRQTN" QY[NP" Q" XPSdNT[" ZQM" TSVN" UL[S" [ZN" XSP[YSRUS1" [ZN" V\R[U[\]N" SY"]NONRSXVNL[M" QL]" LN^S[UQ[USLM" U[" [QbNM" [S" [\PL" Q" ]NMU^L" PNXPNMNL[Q[USL" UL[S" QL"QT[\QR" c\UR]UL^" lUL".PbU[NVQ" NL[U[RN]"!"#$% /0'F$1"% 601#,"$1"2m+"-S[Z" YPQT[USLM" QPN"XPN]SVULQL[RW"cQMN]"\XSL" YNQ[\PNM" [ZQ["VU^Z["cN"TZQPQT[NPU_N]"QM" n[PQ]U[USLQRH" UL"QPTZU[NT[\PQR"]NMU^L+"""%ZN" MNTSL]" XSMU[USL" ]UYYNPM" YPSV" [ZN" [PQ]U[USLQR" QXXPSQTZ" cW" aSPbUL^" aU[Z"

]NMU^L"]NONRSXVNL["UL"Q"aQW"[ZQ["UM"ULMXUPN]"cW"S[ZNP"XPSYNMMUSLQR"YUNR]MK"M\TZ"QM"N[ZLS^PQXZW"lN+^+"-RSVcNP^"!AACK"9EEFK"=SPMW[ZN"!AA;K"*PQc[PNN"!AA,K" #ONW"QL]"6QL]NPM" 9EEBK" (S\PUMZ" 9EEBm+" #" M\^^NM[" [ZUM" QXXPSQTZ" cN" TZQPQT[NPU_N]" QM" n[ZN"cPUTSRQ^N" ]NMU^L" XPQT[UTNH+" -W" cPUTSRQ^N" #" VNQL" QL" QXXPSQTZ" [ZQ[" UM" cQMN]" SL" Q"TSVXURQ[USL"SY"]UYYNPNL["VQ[NPUQRK"QL]"SL"Q"XPSTNMM"[ZQ["TQL"M\XXSP["[ZN"XPS]\T[USL"SY" M\TZ"VQ[[NP+" #L" [ZUM" XPQT[UTNK" [ZN"]NMU^L"XPSTNMM"VU^Z[" cN" MQU]" [S"cN" N`[NL]N]"[ZPS\^ZK" QVSL^" S[ZNP" [ZUL^MK" Q" VSPN" UL[N^PQ[N]" ]UQRS^\N" aU[Z" [ZN" TRUNL["SP^QLU_Q[USL+"2NPNK"SL^SUL^"N`TZQL^NM"cN[aNNL"[ZN"]NMU^L"[NQV"QL]"OQPUS\M"TRUNL["PNXPNMNL[Q[UONM"QPN"TSLMU]NPN]"Q"TNL[PQR"ONZUTRN"UL"[ZN"TPNQ[UON"XPSTNMM+"""#L" .PbU[NVQK" [ZN" ]NONRSXVNL[" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[" PNXPNMNL[N]" [ZN"

TRQMMUTQR"QM"aNRR"QM"[ZN"cPUTSRQ^N"XPQT[UTN+"%ZN"X\PXSMN"SY"[ZUM"]UOUMUSL"UM"[Z\M"LS["[S"XPNMNL["[ZN"[aS"XPQT[UTNM"QM"]UTZS[SVUNM+"&Q[ZNPK"U["UM"[S"UL]UTQ[N"[ZQ["[ZN"aSPb"SY"Q"TSL[NVXSPQPW"QPTZU[NT[" UM"T\PPNL[RW"M\cdNT[N]"[S"QL"N`XQL]UL^"MTSXN"SY"TSL[NL[+".RR" .PbU[NVQ" QPTZU[NT[M" aS\R]" VSM[" RUbNRW" PNXPNMNL[" QMXNT[M" SY" cS[ZK" aU[Z" [ZN"VU`[\PN"SY"UL[NPNM[MK"RULNQVNL[M"QL]"Q[[PUc\[NM"[ZQ["M\TZ"]NMU^L"XPQT[UTN"QXXNQPM"[S"PNXPNMNL[+""

!AE""

)H!!&45!A>9@@;A9>!M5@;8:!?79A=;A5*!9!G;W5M!R7;5G!9@!=45!?6;:=!6G!

M5?97=C75!

%!3"4+%1*6++,1%,.%"#$%+$.+$%"#6"%8'(%-$"%6%)0,$@%"#6"%8'(%&'.4"%6+%+(1#%&,+1(++A%=>?%

8'(%F(+"%-$"%'.%:,"#%,"%6.&%+"60"%"'%"6*5%6)'("%1'.+"0(1",'.%76"$0,6*%6.&%@6)0,1%6.&%@'07%6.&%@(.1",'.A2%""#L" [ZUM" h\S[Q[USL" YPSV" QL" UL[NPOUNaK" QL" .PbU[NVQ" QPTZU[NT[" XSUL[M" S\[" Q" YNa"

TNL[PQR" YNQ[\PNM" [S" ]NMTPUcN" [ZN" TRQMMUTQR" ]NMU^L"XPQT[UTN+" #[" UM" cQMN]"\XSL" Q" cPUNY"YPSV"[ZN"TRUNL[g"WS\"]SLH["]UMT\MM"[ZN"RN^U[UVQTW"SY"U[M"TSL[NL["k"WS\"!F(+"%-$"%'.%:,"#%,"2K"QL]"[ZNL"WS\"h\UTbRW"M[QP["]UMT\MMUL^"YNQ[\PNM"SY"[QT[URN"ScMNPOQLTNK"aU[Z"PN^QP]M"[S"aZQ["[ZN"ZS\MN"UM"^SUL^"[S"RSSb"RUbN+"2QOUL^"QTbLSaRN]^N]"Q"YNa"[ZUL^M"QcS\[" [ZN" TSVXRN`" XPSTNMM" YPSV" aZUTZ" Q" aPU[[NL" cPUNY" UM" [PQLMYSPVN]" UL[S" [ZN"]NMU^L" SY" Q" c\UR]UL^K" [ZUM" ONPMUSL" VU^Z[" MS\L]" MUVXRUYUN]+" -QMN]" SL" VW"NL^Q^NVNL["UL"[ZN"XPSdNT[K"ZSaNONPK"VW"UVXPNMMUSL"UM"[ZQ["[ZN"aPU[[NL"cPUNY"MNPONMK"LS["SLRW"QM"Q"MU^LUYUTQL["TQ[QRW_NP"UL"[ZN"]NMU^L"XPSTNMMK"c\["QRMS"QM"Q"^PUX"[S"PNYNP"[S+".LS[ZNP"QPTZU[NT["UL"[ZN"YUPV"]NMTPUcNM"[ZUM"UL"QL"UL[NPOUNa1"""!3"%#6+%6% *'"% "'%&'%:,"#%1'."$<"A%W'(%16.4"%$+16/$>%"#$0$% ,+%6@"$0%6**%6%1*,$."A%

P.&%:#$"#$0% #$% #6+% '0&$0$&% =$.&% (+$0% /60",1,/6",'.?% '0% .'"9% "#6"% &'$+.4"% 0$6**8%76""$0A%\$%#6+%+'7$%0$C(,0$7$."+A%M#$"#$0%,"4+%$1'.'789%6//$606.1$%'0%:#6"$;$0%,"%,+%=>?%G#$0$%60$%+'7$%0(*$+9%'0%:#6"$;$0%8'(%16**%,"9%"#6"%8'(%(+$%6+%6%/',."%'@%&$/60"(0$A%P.&%'@%1'(0+$%8'(% "08% "'%1'7$%(/%:,"#%+'7$%5,.&%'@%1'.1$/"% "#6"%8'(%"#,.5%:,**%@,"%,.9%6.&%"#6"4+%:#6"%8'(%"08%"'%+$**%#,7A2%""2NPNK%cPUNY" QL]" TRUNL[" MNNV" [S" TSVN"S\[" QM" SLN" \LU[+"%ZN"cPUNY" PNXPNMNL[M" [ZN"

TRUNL[" QL]" MNPONM" [ZN" QPTZU[NT[" aU[Z" TSL[N`[K" PNh\UPNVNL[M" QL]" P\RNM1" ULX\[" [ZN"QPTZU[NT[" UM" N`XNT[N]" [S" QTTSVVS]Q[N+" #" ZQON" TSVN"QTPSMM" N`XPNMMUSLM" RUbN"!G#$%601#,"$1"% #6+% 6*:68+% "6*5$&%:,"#% "#$% (+$0+H2" SL" L\VNPS\M" ULYSPVQR" STTQMUSLM" UL".PbU[NVQ+"2NPNK" [ZN"QP^\VNL["MNNVM" [S"cN"[ZQ[" [ZN"PNRQ[USLMZUX"cN[aNNL"QPTZU[NT["QL]" TRUNL[" lQM" [ZN" XNPMSL" SP" XNPMSLM" PNMXSLMUcRN" YSP" [ZN" XPSdNT[" QL]" [Z\M" YSP" [ZN"TSL[NL[" SY" [ZN" cPUNYm" UM" Q" LQ[\PQR" XSUL[" SY" ]NXQP[\PN" UL" QPTZU[NT[\PQR" ]NMU^L+" %ZN"LS[USL"SY"XPS`UVU[W"UM"[Z\M"LS["TSLMU]NPN]"LNaK"c\["PQ[ZNP"PNXPNMNL[M"[ZN"[PQ]U[USLQR"]WLQVUT" cN[aNNL" M\XXRW" QL]" ]NVQL]+" %ZN" ]NcQ[N" SL" N`[NL]N]" TSL[QT[" aU[Z" [ZN"

!A!""

TRUNL[" [ZQ[" aNL[" SL" UL" .PbU[NVQ" ]\PUL^" [ZN" TS\PMN" SY" VW" NL^Q^NVNL[" aQMK" YSP"MSVNK"[ZNPNcW"XNPTNUON]"QM"PN]\L]QL[+"%"#L" [ZN"h\S[Q[USL"QcSONK" [ZN"QPTZU[NT[" UL]UTQ[NM" [ZQ[" U[HM"LS["XUOS[QR"aZN[ZNP" [ZN"

PNh\UPNVNL[M"YPSV"[ZN"TRUNL["ULTR\]N"NL]"\MNP"XQP[UTUXQ[USL"SP"LS[+".M"QL"S\[MU]NPK"#"YUPM["XNPTNUON]"[ZUM"QM"Q"TSL[PQ]UT[USL1"2N"MQWM"[ZQ["ULX\["YPSV"[ZN"TRUNL["YSPVM"[ZN"TNL[PQR" XSUL[" SY" ]NXQP[\PN" UL" [ZN" ]NMU^L" XPSTNMMK" c\[" U[" ]SNMLH[" MNNVM" [S" VQ[[NP"aZN[ZNP"SP"LS["[ZN"\MNPM"QPN"QT[\QRRW"ULOSRON]o"5Q[NPK"#"PNQRU_N]"[ZQ["[ZN"[aS"]U]LH["N`TR\]N" SLN" QLS[ZNP+" .PTZU[NT[M" lYSP" N`QVXRN" UL" .PbU[NVQm" QPN" LS[" XQP[UT\RQPRW"UL[NPNM[N]" UL"SP^QLU_Q[USLQR" RUYN"QL]" [ZN"OQM["TSVXRN`U[W"SY" [ZN"MSTUQR" UL[NPQT[USLM"[ZQ[" XNSXRN" \L]NP[QbN" aU[ZUL" [ZN" YPQVNaSPb" SY" Q" c\UR]UL^+" %ZNUP" N]\TQ[USLQR"XPS^PQV"]SNMLH[" [PQUL"[ZNV"[S"TSVXPNZNL]"M\TZ"XPQT[UTN+"'LN".PbU[NVQ"QPTZU[NT["N`XRQULM"U["[ZN"YSRRSaUL^"aQW"UL"QL"UL[NPOUNa1"""!R'+"% 601#,"$1"+% 60$9% 6@"$0% 6**9% "06,.$&% "'% &'% &$+,-.9% 6.&% 6"% "#$% +1#''*% '@%

601#,"$1"(0$9%;$08%@$:%'@%"#$%,.+"0(1"'0+%60$%,."$0$+"$&%,.%"#$%='0-6.,B6",'.6*?%/60"A%W'(%60$9%6@"$0%6**9%+",**%"06,.$&%"'%)$%"#$%10$6",;$%60",+"%'0%"#$%60",+"%601#,"$1"9%:#'%+,"+%)8%8'(0+$*@9%+5$"1#,.-%"#$%),-%*,.$+%=>?A2""#L"Q"RQ[NP"ULYSPVQR"TSLONPMQ[USLK"[ZN"MQVN"QPTZU[NT["NVXZQMU_NM"[ZQ["YSP"[PQULN]"

QPTZU[NT[M" [S"cN"PNMXSLMUcRN"YSP" [ZN"TSVV\LUTQ[USL"QL]"UL[NPQT[USL"aU[Z" [ZN"TRUNL["QM" nQ" TSVXS\L]" cS]W" SY" \MNPMH" !:'(*&9% ,.% @61"9% 0$C(,0$% 6% :#'*$% .$:%=601#,"$1"(06*?%$&(16",'.A2%""7U[Z"PN^QP]M"[S"[ZN"XSMU[USL"SY"[ZN"cPUNY"SY"PNh\UPNVNL[MK"U["VU^Z["cN"PNRNOQL["[S"

PN[\PL"[S"]UQ^PQV"!"lTY+"*ZQX[NP"!mK"UL"aZUTZ"[ZN"[PQ]U[USLQR"M[P\T[\PN"SY"[ZN"]NMU^L"XPSTNMM"aQM"URR\M[PQ[N]1"

"3GHIJHK'," URR\M[PQ[NM" [ZN"[PQ]U[USLQR"]NMU^L"XPSTNMMK" UL"aZUTZ"[ZN"XPS]\T[USL"SY" [ZN"TRUNL[HM"PNh\UPNVNL[M"QL]"

[ZN"]NONRSXVNL["SY"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USL"aNPN"XNPTNUON]"QM"[aSK"MNh\NL[UQRRW"MNXQPQ[N]"XPSTNMMNM+""

"

!A9""

7U[Z" QL" N`[NL]N]" TSL[QT[" aU[Z" [ZN" \MNPM" QL]" [ZN" U]NQ" SY" QL" ULX\[" XPS]\TN]"TSLT\PPNL["[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"[ZN"[PQ]U[USLQR"M[P\T[\PN"MNNVM"[S"cN"M\cM[QL[UQRRW" TZQRRNL^N]+" %ZNMN" TZQRRNL^NM" MNNV" [S" cN" ULTR\]N]" UL" [ZN" M[P\T[\PN"XPNMNL[N]" UL" ]UQ^PQV" 9" [ZQ["aQM" QRMS" UL[PS]\TN]" UL"*ZQX[NP" !K" UL"aZUTZ" [ZN" [aS"]NMU^L"XPSTNMMNM"QPN"XNPTNUON]"QM"TSLT\PPNL[+"%S"VQLQ^N"M\TZ"Q"]UYYNPNL["]NMU^L"XPSTNMM" VU^Z[" cN" aZQ[" [ZN" QPTZU[NT[" PNYNPM" [S" UL" [ZN" h\S[Q[USL" QcSON" aZNL" MZN"ULU[UQ[NM"[ZQ["U["aS\R]"!0$C(,0$%6%:#'*$%.$:%=601#,"$1"(06*?%$&(16",'.2+"%"""

"3GHIJHK'8"PNXPNMNL[M"[ZN"LS[USL"SY"[ZN"XQPQRRNR"]NMU^L"XPSTNMMNMK"UL"aZUTZ"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"UM"

QXXRUN]"QM"Q"VNQLM"[S"N`XRSPN"[ZN"XS[NL[UQR"RULb"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+""

''

OH!&45!A>9@@;A9>!M5@;8:!?79A=;A5*!R5Q6:M!97=;AC>9=;6:!

'LN" M[Q[NVNL[" #" ZQON" cNNL" M\cdNT[N]" [S" SL" MNONPQR" STTQMUSLM" UL" ULYSPVQR"TSLONPMQ[USLM"QM"aNRR"QM"UL"UL[NPOUNaM"UL".PbU[NVQ"UM1"!3%&'.4"%5.':%#':%"'%$</*6,.%,"2+" .PTZU[NT[\PN" UM" Q" XPQT[UTN" [ZQ[" UM" ]UYYUT\R[" [S" TQX[\PNK" TSLMUM[UL^" SY" TSVXRN`"XPSTNMMNM"SY"NVcS]UN]"N`XNPUNLTNK"PS\[ULNK"PNRQ[USLQR"TSL]U[USLM"QL]"[NTZLSRS^UTQR"MbURRM+".M"SLN".PbU[NVQ"QPTZU[NT["PNVQPbM"UL"QL"UL[NPOUNa1""!=>?%,"4+%.'"%6*:68+%/'++,)*$% "'%$</*6,.9%6.&%&(0,.-%"#$%/0'1$++% "#,.-+%7,-#"%

'11(0% O%:$**9% +'7$",7$+% 6% ),"% *,5$% 6.% 60",+"9%:,"#'("% &06:,.-%7'0$% '@% 6% /606**$*%"#$0$%O% "#6"%8'(%765$%+'7$"#,.-%:,"#'("% 0$6**8%5.':,.-%:#8%8'(%&'% ,"9%)("% "#$.%8'(%)$-,.%"'%)0,.-%,.%+'7$%'@% "#$%60-(7$."+%6.&%6&F(+"% ,"9%+'%"#6"% "#$%"#,.-+%8'(%#6;$% 76&$% 61"(6**8% @,"% :,"#% :#6"% 8'(% #6;$% 5$/"% ,.% "#$% )615% '@% 8'(0% #$6&A% G#,+%/0'1$++% ,+% 0$6**8% ;(*.$06)*$9% X16(+$% :#$.% 8'(40$% .'"% 06",'.6*9% 8'(% 16.4"% 6*:68+%$</*6,.%=,"?%"'%'"#$0+2%%%.R[ZS\^Z"[ZN"TSVXQPUMSL"cN[aNNL"QPTZU[NT["QL]"QP[UM["UM"]NLUN]"cW"[ZN"QPTZU[NT["

UL" [ZN" h\S[Q[USL" QcSONK" ZN" QTbLSaRN]^NM" [ZQ[" [ZN" TSLTNX[\QR" XQP[" SY" [ZN" ]NMU^L"XPSTNMM"VU^Z["PNMNVcRN"[ZN"aQW"[ZQ["QP[UM[M"QPN"bLSaL"[S"^S"QcS\["[ZNUP"aSPb+"#["UM"

!AC""

ZQP]"[S"QP[UT\RQ[N"QL]"TQX[\PN"UL"RQL^\Q^NK"QL]"QRMS"ZQP]"[S"^NLNPQRU_N+"(\PUL^"VW"NL^Q^NVNL["aU[Z".PbU[NVQK" #" MXNL["Q"XPN]SVULQL["XQP["SY"VW" [UVN" [S^N[ZNP"aU[Z"[ZN" ]NMU^L" [NQV" ULOSRON]" UL" [ZN" YUPM[" ]PQY[" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[+" =SP" Q"M\cM[QL[UQR" XNPUS]" SY" [UVNK" #" RUM[NLN]" [S" [ZNUP" TSLONPMQ[USLMK" N`TZQL^NM" QL]"YP\M[PQ[USLM+".M" QL" S\[MU]NPK" #" N`XNPUNLTN]" Q" TSLMU]NPQcRN"VUMVQ[TZ" cN[aNNL" [ZN"QXXQPNL["PUTZLNMM"SY"[ZNMN"]UMT\MMUSLMK"SL"[ZN"SLN"ZQL]K"QL]"[ZN"QPTZU[NT[HM"QcURU[W"[S"]NMTPUcN"[S"VN"aZQ["[ZNUP"U]NQM"QT[\QRRW"VNQL["UL"XRQUL"RQL^\Q^NK"SL"[ZN"S[ZNP+"-\["QR[ZS\^Z"[ZN"NYYSP[M"[S"]NONRSX"[ZN"]NMU^L"MNNVN]"ULMTP\[QcRN"[S"M[PQL^NPMK"QL]"QRMS"ZQP]"lYSP"QLWSLNm"[S"QMMNVcRN"UL"QL"N`[PQXSRQ[N]"YSPVQ[K"U["aQM"QXXQPNL["[ZQ["[ZN"QPTZU[NT[M"\L]NPM[SS]"$61#%'"#$0+"#LYSPVQR"TSLONPMQ[USLM"#"ZQ]"QTPSMM"[ZN"YUPV"[ZPS\^ZS\[" [ZN" M[\]W" TSLYUPVN]" [ZN" UVXPNMMUSL" SY" Q" XPSYNMMUSL" XNPVNQ[N]" cW" Q"TSLTNQRN]"RQL^\Q^N"QL]"QL"ULTSVXPNZNLMUcRN"VN[ZS]"lTY+"*ZQX[NP";m+""%ZN"<UbQ]S"2S\MN"XPSdNT[K"SL"[ZN"S[ZNP"ZQL]K"aQM"TZQPQT[NPU_N]"cW"M\cM[QL[UQR"

Q[[NVX[M"[S"N`[NL]"[ZN"QPTZU[NT[\PQR"]NMU^L"[NQV"aU[Z"VNVcNPM"YPSV"S\[MU]N"SY"[ZN"YUNR]+" -\[" QM" U[" aURR" cN" ]NMTPUcN]" cNRSaK" [ZNMN" N`XQLMUSLM" ZQ]" TSLMU]NPQ[N"UVXRUTQ[USLM"YSP"[ZN"XPSTNMM"SY"]NMU^LUL^+""

TH!&45!R7;A6>985!M5@;8:!?79A=;A5*!9:!6?5:!R7;5G!;:!9!?979>>5>!

M5@;8:!?76A5@@!

7ZURN" [ZN"aPU[[NL"cPUNY" MNPONM"QM" [ZN"TNL[PQR"XSUL["SY"]NXQP[\PN"QL]"VQPbM" [ZN"XPS`UVU[W" cN[aNNL" TRUNL[" QL]" QPTZU[NT[" UL" [ZN" TRQMMUTQR" ]NMU^L" XPQT[UTNK" [ZN"cPUTSRQ^N"XPQT[UTN"ZSR]M"Q"PQ[ZNP"]UYYNPNL["XSMU[USL1"%!% =3.% "#,+% "8/$% '@% /0'1$++?9% 8'(%:0,"$% "#,.-+% &':.% )8% +5$"1#,.-% 6.&% &06:,.-%

:#,*$% ,"4+% ,.% "#$%765,.-9%6.&% "#,+% ,+%:#6"%8'(%16.%&'%:#$.%8'(% ,.;'*;$% "#$%(+$0+%(.&$0:68A%W'(%16.%;,+(6**8%"$+"%"#$%+'*(",'.+%6.&%+68Q%X:#$.%8'(%+68%"#,+%6.&%"#,+9%&'%8'(%7$6.%*,5$%"#,+J4%M$%6*+'%"$+"%,"%"#0'(-#%lS%&06:,.-+%'@%"#$%+/6",6*%*68'("+%6.&% +68Q% X1'(*&% +'7$"#,.-% *,5$% "#,+% :'05J4% 3% &'.4"% "#,.5% 8'(% 16.% 0$6**8% &'% "#6"%:#$.%"#$%+"(@@%,+%6**%:0,""$.%&':.%=6+%,.%"#$%"06&,",'.6*%)0,$@?A2%%%#L"[ZUM"UL[NPOUNaK"QL".PbU[NVQ"QPTZU[NT["Q[[NVX[M"[S"]NMTPUcN"SLN"SY"[ZN"TNL[PQR"

YNQ[\PNM" [ZQ["TZQPQT[NPU_N" [ZN"QXXPSQTZ"[ZQ[".PbU[NVQ"Q[[NVX[N]"[S"N`XRSPNK" UL" [ZN"TS\PMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[+"2NPNK"[ZN"U]NQ"UM"[ZQ["[ZN"cPUNY"SY"PNh\UPNVNL[M"

!A;""

QL]" [ZN" ]NMU^L" MSR\[USL" NVNP^N" UL" SLN" TSLT\PPNL[" XPSTNMM+" #L" [ZN" XPSdNT[K"N`XPNMMUSLM"RUbN"!"#$%&8.67,1%)0,$@2"aNPN"SY[NL"\MN]"[S"S\[RULN"Q"]NMU^L"XPSTNMM+"#["UM"RNMM"YU`N]"[ZQL"[ZQ["SY"[PQ]U[USLQR"XPSdNT[MK"NVNP^UL^"QM"Q"XQP["SY"[ZN"TSL[UL\S\M"]UQRS^\N"cN[aNNL"[ZN"TRUNL["QL]"[ZN"]NMU^L"[NQV"lTY+"]UQ^PQV"9m+"""!G#$%7$"#'&% ,+% &,@@$0$."A% =>?%G'%7$9% ,"% ,+% @(.% "'% 1#6**$.-$% "#$% )0,$@% 6.&% "#$%

1'.&,",'.+%"#6"%601#,"$1"(0$%,+%)6+$&%(/'.9%6.&%3%"#,.5%,"4+%7'0$%,."$0$+",.-%"'%#6;$%6% 1*,$."% '0% 6"% *$6+"% 6% )0,$@9% "#6"% $.1'(06-$+% &,+1(++,'.A% =>?% 3% *,5$% "'% -$"% 6.%6++,-.7$."%"#6"%,+.4"%;$08%:$**%&$@,.$&A2%""#L"[ZUM"h\S[Q[USLK"aZUTZ"UM"[QbNL"YPSV"QL"UL[NPOUNa"aU[Z"QL".PbU[NVQ"QPTZU[NT["

[ZQ[" TS\R]" cN" MQU]" [S" PNXPNMNL[" TNL[PQR" cPUTSRQ^N" YNQ[\PNMK" ]NMTPUcNM" [ZN" QXXPSQTZ"MZN"XPNYNPM"UL"ZNP"]NMU^L"XPQT[UTN1"QL"UVXPNTUMN"QXXPSQTZ"[ZQ["ULTR\]NM"LN^S[UQ[USL"cN[aNNL" [ZN" ULX\[" YPSV" [ZN" TRUNL[" QL]" [ZN" TPNQ[UON" ]NMU^L" XPSTNMM+" 6\TZ" QL"QXXPSQTZ" ]SNM" LS[" SLRW" ULOSRON" QL" SXNL" QL]" TSLT\PPNL[" ]UMT\MMUSL+" .L]" QM" MZN"XSUL[M"S\["RQ[NP"UL"[ZN"MQVN"UL[NPOUNaK"U["VU^Z["QRMS"N`[NL]"[ZN"XPSTNMM1%""!3@% 8'(% :6."% "'% :'05% ,."$.+,;$*8% :,"#% "#6"% &,+1';$08% /#6+$9% 8'(% 16.4"% 6"% "#$%

+67$%",7$%:6."%6%5$8%'0%6%*,+"%='@%1*,$."%0$C(,0$7$."+?9%6+%"#6"%7,-#"%.'"%'11(0%,.%'.$%7';$7$."9%)("%';$0%6%*'.-$0%/$0,'&%'@%",7$A2%""#L"[ZN"cPUTSRQ^N"QXXPSQTZK"U["MNNVM"[ZQ["[ZN"cPUNY"]SNMLH[K"QM"M\TZK"PNXPNMNL["[ZN"

bNW" [S" ULU[UQ[N" [ZN" TPNQ[UON" XPSTNMM+" #[" PQ[ZNP" NVNP^NM" SONP" !6% *'.-$0% /$0,'&% '@%",7$2"[ZQ["TSPPNMXSL]M"aU[Z"[ZN"]NONRSXVNL["SY"[ZN"]NMU^L"U[MNRY+"*SVXQPN]"[S"[ZN"[PQ]U[USLQR"MNh\NL[UQR"M[P\T[\PN"SY"QL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"[ZN"QXXPSQTZ"[Z\M"MNNVM" [S" PNMZ\YYRN" [ZN" YQT[SPM" [ZQ[" TSLM[U[\[N" TRQMMUTQR" ]NMU^L" XPQT[UTN+" #L" QL"UL[NPOUNaK"QLS[ZNP"cPUTSRQ^N"QPTZU[NT["M\^^NM[M"Q"PNONPMQR"SY"[ZN"[PQ]U[USLQR"TPNQ[UON"XPSTNMM1""!3%"#,.5%,"%1'(*&%)$%0$6**8%,."$0$+",.-%"'%)$-,.%:'05,.-%,.%6%0$;$0+$%:68Q%"'%+"60"%

:,"#%"#$%,.+,&$%'@%"#$%#'(+$%'0%6%1$0"6,.%/60"%'@%"#$%#'(+$A%U("%,"%0$C(,0$+%"#6"%8'(%+5$"1#%,.%6%&,@@$0$."%:689% "#6"%8'(%:'05%,.%6%&,@@$0$."%:68%"#6.%"#,.5,.-%/#8+,16*%+/61$% 6.&% :6**+% 6.&% 1$,*,.-+% 6.&% +"6,016+$+% 6.&% 6**% "#'+$% "#,.-+% 6"% '.1$% 6.&%,.+"$6&%:'05%'.%6%7'0$%6)+"061"%*$;$*%"'%)$-,.%:,"#A%=>?%=k6"#$0?%8'(%+"60"%'.%"#$%,.+,&$%:,"#% +76**$0% /60"+% 6.&%:'05% 8'(0%:68% '(":60&+% O% +'% "#$% ';$06**% 1'.1$/"%&'$+.4"%1'7$%@0'7%"#$%'("+,&$9%)("%+'7$#':%@0'7%"#$%,.+,&$A2%

!AF""

]H!&45!R7;A6>985!M5@;8:!?79A=;A5*!;:B;=;:8!=45!C@57@!;:=6!=45!

M5@;8:!?76A5@@!

%!M#$.%:$%=6+%601#,"$1"+?%:'05%'.%/0'F$1"+9%:$%5.':%;$08%*,""*$%6)'("%"#$%(+$0+A%

M$%&'.4"%5.':%"#$79%:$%&'.4"%5.':%:#6"%"#$8%*''5%*,5$9%:$%&'.4"%5.':%:#'%"#$8%60$A%=>?%P+%6.%601#,"$1"9%"#,+%#6+%)$$.%"#$%$</$1"$&%/0'@$++,'.6*%1'7/$"$.1$b%"#6"%:$40$%6)*$%"'%0$*6"$%"'%/$'/*$4+%*,;$+%6.&%/0$0$C(,+,"$+%6.&%60$%6)*$%"'%-,;$%"#$7%:#6"%"#$8%.$$&A%=>?%=G?#,+%,+%:#6"%:$%C($+",'.%6.&%/',."%'("Q%8'(%16.4"%&'%"#6"H2%%%#L"[ZUM"MQVN"UL[NPOUNa"MU[\Q[USLK"[ZUM"cPUTSRQ^N"QPTZU[NT["XSUL[M"S\["MSVN"SY"[ZN"

TSVXRN`U[W" [ZQ[" QPTZU[NT[\PQR" aSPb" UL" YQT[" ULOSRONM+" %ZN" QPTZU[NT[\PQR" XPS]\T["VSM[RW"PNYNPM"[S"XNSXRN"QL]"[ZNUP"MSTUQR"UL[NPQT[USLM+"-\["QM"UL]UTQ[N]"QcSON"UL"[ZUM"MNT[USLK" [ZNUP" N]\TQ[USLQR" [PQULUL^" ]SNM" LS[" XPSOU]N" [ZN" QPTZU[NT[M" aU[Z" [ZSPS\^Z"bLSaRN]^N"SY"M\TZ"MSTUQR"XPQT[UTN+"%ZN"M[Q[NVNL["VU^Z["[Z\M"PNYRNT["SL"[ZN"LQ[\PQR"^QX"cN[aNNL"[ZN"QPTZU[NT[HM"TRQMMUTQR"]NMU^L"XPQT[UTN"QL]"[ZN"TRUNL[HM"SP^QLU_Q[USLQR"XPQT[UTN+" #["XSUL[M"S\[" [ZQ[" [ZNPN"QPN"QMXNT[M"SY" [ZUM"NLTS\L[NP" [ZQ[" [ZN"QPTZU[NT[" UM"LS["YU["[S"ZQL]RN+"%ZN"cPUTSRQ^N"XPQT[UTN"MNNVM"[S"XSUL["[SaQP]M"QL"QXXPSQTZ"[S"[ZN"QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" [ZQ[" ULTR\]NM" QL" N`[NL]N]" TSRRQcSPQ[USL" aU[Z" S[ZNP"XPSYNMMUSLQRMK" aZS" TQL" PNXPNMNL[" Q" VSPN" N`[NL]N]" \L]NPM[QL]UL^" SY" [ZN" TRUNL[HM"SP^QLU_Q[USLQR"XPQT[UTN+".M"#"]NMTPUcN"cNRSa"UL"[ZN"S\[RULN"SY"OQPUS\M"STT\PPNLTNM"UL" [ZN"<UbQ]S"2S\MN"XPSdNT[K" [ZUM" [WXN"SY"TSRRQcSPQ[USL"VU^Z[" ULOSRON"M\cM[QL[UQR"TZQRRNL^NMK"YSP"N`QVXRN"]\N"[S"]UM[ULT["]UYYNPNLTNM"UL"VN[ZS]"QL]"RQL^\Q^N+"%"

$2%&8+/*,"&2"-4%&'("@%!$1&%:'3"(+#0&"(0*#+9%,&%#,&-4%(&'*($+!+'*$+"#&

#L"[ZN"PNM["SY"[ZUM"MNT[USLK"#"aURR"XPSOU]N"Q"MNh\NL[UQR"S\[RULN"SY"aZQ["#"TSLMU]NP"[S"cN"MSVN"SY"[ZN"VQUL"NONL[M"UL"[ZN"YUPM["XZQMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[+"""

!AB""

)H!&45!X;>:;C@!D67L@46?@!

6ZSP[RW"cNYSPN"[ZN"RQ\LTZ"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[K".PbU[NVQ"aNL["SL"Q";D]QW"[NQVc\UR]UL^"[PUX"[S"GURLU\MK"5U[Z\QLUQ+".XXPS`UVQ[NRW"9CE"SY"[ZN"YUPVHM"9BE"M[QYY"VNVcNPM"XQP[UTUXQ[N]"UL"[ZN"NONL[!B+"2NPNK"Q"TNL[PQR"QMXUPQ[USL"aQM"[S"N`XRSPN"LNa" QXXPSQTZNM" [S" TSLTNX[\QR" ]NONRSXVNL[" QL]" TSRRQcSPQ[USL" UL" QPTZU[NT[\PQR"]NMU^L"XPQT[UTNK"UL"SP]NP"[S"XPS]\TN"U]NQM" [S"M\XXSP["[ZN"]NMU^L"SY"[ZN"YUPVHM"LNa"*SXNLZQ^NL"SYYUTN+"""%ZN" [PUX" aQM" [ZSPS\^ZRW" XRQLLN]" QL]" XPNXQPN]K" aU[Z" Q" [U^Z[" XPS^PQV" SY"

SP^QLU_N]" N`NPTUMNM" [ZQ[" aNPN" ZU^ZRW" UL[NPQT[UON" QL]" QUVN]" [S" TZQRRNL^N" [ZN"[PQ]U[USLQR"QXXPSQTZ"[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"%ZN"M[QYY"aQM"]UOU]N]"UL[S"TSVXN[UL^" [NQVM" SY" QXXPS`UVQ[NRW" 9E" XNSXRN+" 4QPQRRNR" [SK" QL]" QM" Q" XQP[" SY" [ZNMN"N`NPTUMNMK"NQTZ"[NQV"XPS]\TN]"XPSXSMQR"YSP"Q"TSLTNX["QL]"Q"XZWMUTQR"VS]NR"YSP"[ZN"]NMU^L"SY"[ZN"LNa"SYYUTN"c\UR]UL^+"'L"[ZN"[ZUP]"]QW"SY"[ZN"NONL[K"[ZN"VS]NRM"aNPN"RQ\LTZN]"UL"QL"N`ZUcU[USL"QL]"M\cMNh\NL[RW"NOQR\Q[N]"cW"QL"UL[NPLQR"d\PWK"SL"MU[N+""."aULLNP"aQM"QXXSUL[N]"QL]"Q"]ULLNP"XQP[W"TRSMN]"[ZN"NONL[+"""

OH!&45!A6:@=;=C=;6:!6G!9:!C:=79M;=;6:9>!M5@;8:!=59P!

&N[\PLUL^" [S" (NLVQPbK" [ZN" ]NMU^L" XPSTNMM" SY" [ZN"<UbQ]S"2S\MN" XPSdNT[" aQM"YSPVQRRW" RQ\LTZN]+".L" \LTSLONL[USLQR" ]NMU^L" [NQV"aQM" QXXSUL[N]K" TSLMUM[UL^" SY"TRQMMUTQRRW"[PQULN]"QPTZU[NT[M"QL]"QRMS"Q"LNa"M[QYY"TQ[N^SPW"SY"!/0'1$++%&$+,-.$0+2+"%ZN" RQ[[NP" ^PS\X" PNXPNMNL[N]" Q" MVQRR" ]NXQP[VNL[" SY" SLN" QL[ZPSXSRS^UM[K" SLN"QPTZU[NT[" QL]" SLN" XZWMUTUM[" laU[Z" Q" cQTb^PS\L]" UL" [ZN" QPNQ" SY" n\MNPD]PUONL"ULLSOQ[USLHmK"QL]"[ZN"]NXQP[VNL["ZNR]"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"Q"TNL[PQR"XQP["SY" U[M" MNPOUTN+"%ZNMN" [aS"XPSYNMMUSLQR"^PS\XM"SY"TRQMMUTQRRW" [PQULN]"QPTZU[NT[M"QL]" XPSTNMM" ]NMU^LNPM" aU[Z" OQPUS\M" cQTb^PS\L]M" VU^Z[" [Z\M" cN" MQU]" [S" ZQON"]UYYNPN]"M\cM[QL[UQRRWK"aU[Z"PN^QP]M"[S"RQL^\Q^N"QL]"VN[ZS]+"""#L"[ZN"YUPM["VSL[ZM"SY"[ZN"XPSdNT[K"[ZN"XPSTNMM"]NMU^LNPM"XRQLLN]"QL]"TSL]\T[N]"

Q"L\VcNP"SY"UL[NPQT[UON"XPSTNMMNM"SY"XQP[UTUXQ[USL1"aSPbMZSXMK"UL[NPOUNaMK"Q"M\PONW"QL]" VSPN+" ." cPSQ]" PQL^N" SY" M[QYY" VNVcNPM" QTPSMM" [ZN" YUPV" NL^Q^N]" UL" [ZN"]UMT\MMUSLM" [ZQ[" [ZNMN" XPSTNMMNM" ULM[U^Q[N]+" 4QPQRRNR" [SK" QL]" QM" Q" XQP[" SY" [ZNMN"

"""""""""""""""""""""""""""""""""""""""""""!B"%ZN"QONPQ^N"L\VcNP"SY"M[QYY"UL"9EEF"laaa+QPbU[NVQ+]bm+"

!A?""

QT[UOU[UNMK" [ZN" [NQV" QRMS" [PUN]" [S" TSVXPNZNL]" [ZN" U]NQM" TSLTNUON]" UL" [ZN" GURLU\M"aSPbMZSXMK"QL]"]UMT\MMN]"ZSa"[ZNMN"TS\R]"cN"cPS\^Z["UL[S"[ZN"XPSdNT["QM"QL"ULU[UQR"PNMS\PTN+""#L" [ZUM" ULU[UQR" XNPUS]K" [ZN" ]NMU^L" [NQV" SY" [ZN"<UbQ]S" 2S\MN" XPSdNT[" YS\L]" U["

]UYYUT\R[" [S" RQ\LTZ" [ZN"QT[\QR"]NMU^L"aSPb+"<W"NL^Q^NVNL["aU[Z" [ZN" YUPV"Q[" RQP^N"QL]"QRMS"aU[Z"[ZUM"XQP[UT\RQP"]NMU^L"[NQV"PNONQRN]"[ZQ[".PbU[NVQ"QPTZU[NT[M"QPN"[NQV"XRQWNPM+"-\["VW"YUNR]"LS[NM"QRMS"MZSa"[ZQ["[ZNW"XPN]SVULQL[RW"[NQV"\X"aU[Z"XNSXRN"YPSV"[ZNUP"SaL"cPNN]"l[PQULN]"QPTZU[NT[MmK"QL]"XPNYNPQcRW"aU[Z"TSRRNQ^\NM"[ZNW"ZQON"aSPbN]"aU[Z"SL"XPNOUS\M"STTQMUSLM+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"TSRRQcSPQ[USL"cN[aNNL" M\TZ" [PQULN]" QPTZU[NT[M" QL]" [ZN" XPSTNMM" ]NMU^LNPM" YPSV" S[ZNP" YUNR]M" QL]"[PQ]U[USLM"XPSON]" [S"cN"Q"TZQRRNL^NK"aU[Z" PN^QP]M" [S" RQ\LTZUL^" [ZN"]NMU^L"XPSTNMM"QL]" ]NONRSXUL^" Q" ]NMU^L" MSR\[USL+" %ZN" X\PXSMN" SY" [ZN" TSRRQcSPQ[USL" aQM" [S"TSL[PUc\[N" [S" NM[QcRUMZUL^" Q" LNa"QXXPSQTZ" [S" [ZN" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMK" cW"ULTR\]UL^"VN[ZS]M"[ZQ["aNPN"MQU]"[S"cN"cQMN]"SL"N[ZLS^PQXZUT"[PQ]U[USLM+"-\["aZQ["]SNM" [ZN" XPSTNMM" ]NMU^LNPMH" aSPb" UL" YQT[" TSLMUM[" SY" UL" [ZN" TSL[N`[" SY" ]NMU^LUL^"QPTZU[NT[\PNo" #L" [ZN" YSRRSaUL^" h\S[Q[USL" YPSV" QL" UL[NPOUNaK" SLN" SY" [ZN" XPSTNMM"]NMU^LNPM"]NMTPUcNM"Q"YNa"TNL[PQR"QMXNT[M"SY"[ZN"U]NQ1""!3%&'.4"%"#,.5%,"%:6+%7$0$*8%(+$0%/60",1,/6",'.9%3%&,&.4"%"#,.5%'@%,"%'.*8%6+%"#6"A%3%

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

/60",1,/6",'.2K"PNYNPPUL^"[S"[ZN"TSLTPN[N"QL]"[QL^UcRN"UL[NPQT[UON"XPSTNMMNM"aU[Z"NL]"\MNP" PNXPNMNL[Q[UONM" QTPSMM" [ZN" TRUNL[" SP^QLU_Q[USL+" 6ZN" PQ[ZNP" XNPTNUONM" [ZN"TSL[PUc\[USL"QM"SLN"[ZQ["cPUL^M"[ZN"SP^QLU_Q[USLQR"XNPMXNT[UON",."'"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"UL"Q"aQW"[ZQ["aQM"LS["YQVURUQP"[S"[PQ]U[USLQRRW"[PQULN]"QPTZU[NT[M+"-W"UL]UTQ[UL^" [ZQ[" [ZN" QXXPSQTZ" ^UONM" [ZN" QPTZU[NT[M" QL" SXXSP[\LU[W" [S" h\NM[USL" [ZNUP"

!A,""

SaL"XNPMXNT[UONK"MZN"QRMS"XSUL[M"[S"[ZN"YQT["[ZQ["U["VU^Z["^UON"QTTNMM"[S"ULYSPVQ[USLK"S[ZNPaUMN"ULQTTNMMUcRN+""'

TH!$!?979>>5>!M5@;8:!?76A5@@!R9@5M!6:!b=45!?76A5@@!

?57@?5A=;B5c!9:M!=45!5P5785:A5!6G!b&45!\66L!6G!=45!#6C@5c!

%ZNPN"aNPN"[ZPNN"TRSMNRW"UL[NP[aULN]"YNQ[\PNM"[ZQ["MNNVM"XQP[UT\RQPRW"TNL[PQR"[S"[ZN"aQW" [ZQ[" [ZN"SP^QLU_N]"XQP[UTUXQ[USL"aQM"cNUL^"TSLTNX[\QRU_N]" UL" [ZN"<UbQ]S"2S\MN" XPSdNT[+" %ZN" YUPM[" YNQ[\PN" aQM" [ZN" LS[USL" SY" ]NMU^LUL^" UL" !6% /606**$*%/0'1$++2+" 2NPNK" [ZN" SP^QLU_Q[USLQR" PNh\UPNVNL[M" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L"MSR\[USL" aNPN" M\XXSMN]" [S" ULYSPV" SLN" QLS[ZNP" UL" Q" TSLT\PPNL[" QL]" PNTUXPSTQR"XPSTNMM" lTY+" ]UQ^PQV" 9m+" %ZN" SP^QLU_N]" XQP[UTUXQ[USL" QT[UOU[UNM" [Z\M" MNPON]" QM" QL"SXXSP[\LU[W"[S"]UMTRSMN"[ZN"LNN]M"QL]"aUMZNM"SY"[ZN"TRUNL["QL]"[S"YNN]"UL[S"[ZN"cPUNY"SY" PNh\UPNVNL[M" QM" Q" MSVNaZQ[" NVNP^UL^"]ST\VNL[+"%ZN" MNTSL]" YNQ[\PN"aQM" [ZN"U]NQ"SY"]NMU^LUL^"YPSV"!6%/0'1$++%/$0+/$1",;$2+"2NPNK"[ZN"TSLTNX["SY"nXPSTNMMH"QM"Q"TNL[PQR"QMXNT["[S"QXXPSQTZUL^"[ZN"TPNQ[UON"XPSTNMM"SY"]NMU^LUL^"QPTZU[NT[\PN"MNNVN]"[S" ULOSRON" Q" TRSMN" QL]" TSL[UL\S\M" ]UQRS^\N" aU[Z" [ZN" NL]" \MNPM" SY" [ZN" Y\[\PN"c\UR]UL^+"%ZUM"TSRRQcSPQ[USL"aQM"MNNL"QM"QL"UL[N^PQ[N]"XQP["SY"[ZN"]NMU^L"XPSTNMM+"#L"[ZUM"XNPMXNT[UONK"[ZN"NL]"\MNPM"aNPN"XNPTNUON]"QM"XS[NL[UQR"TSD]NMU^LNPM+""".PTZU[NT[M" ^NLNPQRRW" QTbLSaRN]^N" [ZQ[" [ZNUP" c\UR]UL^M" ^S" [ZPS\^Z" TZQL^NM"

QTTSP]UL^"[S"M\cMNh\NL["\MQ^NK"aZUTZ"UM"MNNL"QM"Q"ZUM[SPUTQRRW"UL[N^PQ[N]"QMXNT["SY"[ZN"XPS]\T[+"-\["M\TZ"QL"SL^SUL^"]UQRS^\N"cN[aNNL"QPTZU[NT["QL]"TRUNL[K"QM"Q"TNL[PQR"ONZUTRN" [S"TPQTb" [ZN"TS]N"SY" [ZN"QT[\QR"]NMU^L"MSR\[USLK" M\cM[QL[UQRRW"]UYYNPM" YPSV"[ZN"aQW"[PQULN]"QPTZU[NT[M"TQX[\PN"[ZN"XPSTNMM"SY"]NMU^LUL^+"2NPNK"[ZN"TRUNL["UM"LS["XNPTNUON]"QM"Q"MUL^\RQP"XNPMSLK"PNMXSLMUcRN"YSP"[ZN"c\]^N[K"c\["QM"Q"cPSQ]NP"\LU["[ZQ["#"UL"[ZUM"[ZNMUM"TZQPQT[NPU_N"QM"Q"nTSVXS\L]"cS]W"SY"\MNPMH"lTY+"*ZQX[NPM"!K"?m+""'

]H!$!?979>>5>!M5@;8:!?76A5@@*!;:G67P;:8!b&45!\66L!6G!=45!

#6C@5c!

.M"Q"XPQT[UTQR"UVXRUTQ[USL"SY"[ZN"[aS"YUPM["YNQ[\PNM1"[ZN"LS[USL"SY"]NMU^LUL^"UL"Q"XQPQRRNR"XPSTNMM"QL]"]NMU^LUL^"YPSV"Q"XPSTNMM"XNPMXNT[UONK"Q"[ZUP]"YNQ[\PN"VU^Z["cN"TSLMU]NPN]+"#L"[ZN"TS\PMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"TSLTNX[\QR"U]NQ"SY"!G#$%U''5%'@%"#$%\'(+$2"PNXPNMNL[N]"[ZN"NVNP^UL^"cPUNY"SY"PNh\UPNVNL[M"[ZQ["aQM"cNUL^"

!AA""

YSPVN]"QM"Q"PNM\R[" YPSV"aSPbUL^"YPSV"[ZN"XPSTNMM"XNPMXNT[UON+".M"#"aURR"]NMTPUcN"QL]"]UMT\MM"cNRSaK"[ZUM"cSSb"aQM"TSLTNUON]"QM"QL"NVX[W"]ST\VNL["aU[Z"XQ^NM"[ZQ["aNPN" [S" cN" YURRN]" SL" [ZN" cQMUM" SY" [ZN" STT\PPNLTNM" [ZQ[" [SSb" XRQTN" UL" [ZN" XQPQRRNR"]NMU^L"XPSTNMM+"""%ZN" ]NMU^L" XPSTNMM" [ZQ["aQM" ULU[UQ[N]" [S" TSLM[U[\[N" [ZN"<UbQ]S"2S\MN" XPSdNT["

VU^Z["cN"MQU]"[S"PNYRNT["[ZN"cPUTSRQ^N"XPQT[UTN"[ZQ[".PbU[NVQ"QUVN]"[S"NM[QcRUMZ"QM"Q"XQP["SY" [ZN"YUPVHM"XPS]\T["XSP[YSRUSK"]\PUL^"[ZUM"XNPUS]"SY" [UVN+"#L" [ZN"XPSdNT[K" [ZN"QMXUPQ[USL"aQM"[S"XPS]\TN"Q"cPUNY"[ZQ["]NONRSXN]"XQPQRRNR"[S"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USL+"!G#$%U''5% '@% "#$%\'(+$2" [Z\M" TQVN" [S" PNXPNMNL[" [ZN" LNa"VN[ZS]" QM" Q"TSLTNX[\QR" U]NQ+"<W" YUNR]"LS[NM" PNXSP["SY" [ZN"cPUTSRQ^N" QPTZU[NT[HM" N`XRQLQ[USL"SY"[ZUM"TSLTNX[K"YPSV"[ZN"ULU[UQR"VNN[UL^"UL"[ZN"]NMU^L"[NQV1"""!G#$%,&$6%,+%.'"%'.*8%"#6"%:$%+,"%&':.%6.&%&$;$*'/%6%)0,$@%6.&%-,;$%"#6"%"'%"#$%

601#,"$1"+9% )("% "#6"% :$% &$;$*'/% ,"% "'-$"#$0% "#0'(-#'("% "#$% 61"(6*% /0'1$++A%U0,$@L#'(+$%&$;$*'/%+,7(*"6.$'(+*89%6.&%$;$08"#,.-%,+%-6"#$0$&%,.%X"#$%)''5%'@%"#$%#'(+$4%O%"#$%/',."%'@%&$/60"(0$%@'0%6%.$:%7$"#'&A2%%"7U[Z"M\TZ"Q"XSUL["SY"]NXQP[\PNK"[ZN"[PQ]U[USLQR"PSRN"SY"[ZN"cPUNY"SY"PNh\UPNVNL[MK"

QM"Q"^NLNPQR"^\U]NRULN"YSP"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"MNNVM"[S"^N["TZQRRNL^N]+"#L" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" PNM\R[M" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" aNPN"Q[[NVX[N]"[S"cN"cPS\^Z["UL[S"[ZN"QT[\QR"]NMU^LK"LS["SLRW"SY"[ZN"UL[NPUSP"]NMU^L"QL]"[ZN" c\UR]UL^HM" MXQ[UQR" RQWS\[K" c\[" QRMS" SY" [ZN" N`[NPUSP" ]NMU^L" TSLM[P\T[USL+" #L" [ZUM"LNa" TSRRQcSPQ[USLQR" TSLM[U[\[USL" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPMK" [ZN"U]NL[UYUTQ[USL"SY"LNa"MXQ[UQR"SXXSP[\LU[UNM"QL]"LNa"aQWM"[S"\[URU_N"aSPbMXQTN"aNPN"MNNL"QM"TNL[PQR"YNQ[\PNM+"""

]H!39C:A4;:8!9:M!A6:=;:C;:8!=45!K;L9M6!#6C@5!?76E5A=*!9!

A6>>9R679=;6:9>!5W?57;P5:=!

.M"[ZN"<UbQ]S"2S\MN"XPSdNT["aQM"YSPVQRRW"RQ\LTZN]K" [ZN"]NMU^L"[NQV"[PUN]"[S"YUL]" Q" aQW" [S" cN^UL" [ZN" QT[\QR" XPSTNMM" SY" ]NMU^LUL^+" -\[" [ZN" [NQVHM" UL[NPLQR"]UOUMUSL" SY" RQcSP" QL]" TSLMSRU]Q[USL" QM" Q" TPSMMD]UMTUXRULQPW" ^PS\X" aQM" \LMN[[RN]"aZNL" [ZN" XPSdNT[" M[QP[N]K" QL]" [ZN"VNVcNPM" ]U]" LS["VNN[" \L[UR" MZSP[RW" cNYSPN" [ZN"ULU[UQR"XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"MN["YSP[Z+"%ZN"[NQV"[Z\M"YS\L]"U["]UYYUT\R["[S"^N["

9EE""

[ZN" XPSTNMM" M[QP[N]" QL]" [S" PNQTZ" Q"V\[\QR" \L]NPM[QL]UL^" SY" [ZNUP" ScRU^Q[USLM" QL]"PNMXSLMUcURU[UNM+"%ZN"XPScRNV"aQM"LS["SLRW"[S"TPNQ[N"QL"SP^QLU_Q[USLQR"YPQVNaSPb"[ZQ["TS\R]"MN["[ZN"]NMU^L"XPSTNMM"UL[S"VS[USL+"#["QRMS"ULOSRON]"[ZN"h\NM[USL"SY"ZSa"[S"cPUL^"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"UL[S"Q"YSPVQ["[ZQ["TS\R]"MNPON"QM"Q"PNMS\PTN" UL" [ZN" XPSTNMM" SY" ]NMU^LUL^+" %ZUM" XSUL[" [Z\M" PN^QP]N]" [ZN" XPSTNMM" SY"XPS]\TUL^"[ZN"SP^QLU_Q[USLQR"ULX\[1"YPSV"Q"VWPUQ]"SY"[ZS\^Z[M"QL]"U]NQM"YPSV"[ZN"NL]" \MNPM" [S" QL" QT[\QR" \MQcRN" ULX\[" [ZQ[" TS\R]" cN" ULYSPV" [ZN" QPTZU[NT[M" UL" [ZNUP"XPSTNMM"SY"]NMU^LUL^+"6NONPQR" SY" [ZN"XPScRNVM" [ZQ["STT\PPN]" [ZPS\^ZS\[" [ZUM" [UVN"MNNVN]" [S" cN" TQ\MN]" cW" TSL[UL\S\M" TSVV\LUTQ[USLQR" ]UYYUT\R[UNM" UL" [ZN" ]NMU^L"[NQV+".XXPS`UVQ[NRW"SLN"VSL[Z"UL[S"[ZN"]NMU^L"XPSTNMM"VW"YUNR]"LS[NM"PNXSP["SY"Q"!10,+,+21""""!3"% +$$7+% "#6"% +'7$% +'0"% '@% 10,+,+% #6+% '11(00$&% ,.% "#$% "$67% 6.&% "#$,0%

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cSON"UL"[ZUM"MNT[USLK"[ZN"

QPTZU[NT[M"PNXNQ[N]RW"TQRRN]"YSP"Q"YUPV"YPQVNaSPb"[S"M\XXSP["[ZN"]NMU^L"XPSTNMM1"."cPUNY"SY"PNh\UPNVNL[M" [S"cN"\MN]"QM" [ZN"XSUL["SY"]NXQP[\PN" UL" [ZN"TPNQ[UON"XPSTNMMK"QL]" QL" QMMNVcRW" SY" [ZN"VQ[NPUQR" XPS]\TN]" UL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" %S" [ZN"QPTZU[NT[MK" U["MNNVN]"ScOUS\M" [ZQ[" [ZN"XPSTNMM"]NMU^LNPM"MZS\R]"cN"PNMXSLMUcRN"YSP"[PQLMRQ[UL^" [ZN" VQ[NPUQR" XPS]\TN]" UL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" %ZN" XPSTNMM"]NMU^LNPMK" SL" [ZN" S[ZNP" ZQL]K" ULMUM[N]" [ZQ[" [ZN" PNM\R[M" YPSV" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM" MZS\R]" \L]NP^S" Q" [PQLMRQ[USLK" \L]NP[QbNL" cW" QPTZU[NT[M" QL]" XPSTNMM"]NMU^LNPM"UL"TSRRQcSPQ[USL+"=PSV"[ZN"XPSTNMM"]NMU^LNPHM"OUNaXSUL[K"[ZN"]UYYNPNLTN"UL"XNPMXNT[UON"QL]"[ZN"OSR\VULS\M"S\[TSVN"XPS]\TN]"cW"[ZN"NL]"\MNPM"aQM"MNNL"QM"Q"TPNQ[UON"RNONPQ^N+"#["aQM"[Z\M"TSLMU]NPN]"Q"XS[NL[UQR"TSL[PUc\[USL"[S"[ZN"NVNP^NLTN"SY"Q"]NMU^L"MSR\[USL+".M"aURR"cN"]UMT\MMN]"UL"[ZN"LN`["MNT[USLK"[ZUM"LS[USL"SY"OSR\VN"QL]" [PQLMRQ[USL"MNNVN]"[S" ULOSRON"Q"TSL[UL\S\M"]UMT\MMUSL"aU[ZUL" [ZN" [NQV+"2NPNK"[ZN" h\NM[USL"aQM"aZN[ZNP" [S"aSPb"aU[Z"VQLW" TSLTNX[\QR" U]NQM" TSLT\PPNL[RW" QL]"NONL[\QRRW" RN[" [ZN" MSR\[USL" NVNP^N" YPSV" [ZQ[K" SP" [S" MNQPTZ" YSP" SLN"VQUL" TSLTNX["YPSV"[ZN"cN^ULLUL^+"""

9E!""

NH!&45!K;L9M6!#6C@5!5P578;:8*!9!45>;W!=49=!;:G67P5M!=45!

5W=57;67!9:M!=45!;:=57;67!M5@;8:!

(NMXU[N" [ZN" TSRRQcSPQ[USLQR" ]UYYUT\R[UNM" [ZQ[" [ZN" <UbQ]S" 2S\MN" XPSdNT[" aQM"M\cdNT[N]"[S"QM"Q"]NMU^L"XPSTNMMK"LNa"TSLTNX[\QR"U]NQM"]U]"UL]NN]"STT\P"QM"Q"PNM\R["SY" [ZN" NL]NQOSPM+" 2NPNK" LNa" U]NQM" ]NONRSXN]K" aU[Z" PN^QP]M" [S" [ZN" N`[NPUSP"TSLM[P\T[USL" QM" aNRR" QM" [ZN" UL[NPUSP" ]NMU^L+" .R[ZS\^Z" MNONPQR" VN[QXZSPM" aNPN"ULOSRON]"UL"[ZN"TS\PMN"SY"[ZN"XPSdNT[K"cS[Z"]NMU^LM"lN`[NPUSP"QL]"UL[NPUSPm"VU^Z["cN"MQU]"[S"ZQON"cNNL"c\UR["\XSL"SLN"VQUL"TSLTNX[\QR"VN[QXZSP1"Q"ZNRU`+"#L"[NPVM"SY"[ZN"N`[NPUSP"]NMU^L"SY"[ZN"c\UR]UL^"[ZUM"XSUL["SY"PNYNPNLTN"TQVN"YSP[Z"YUPM["QM"SLNK"QL]"NONL[\QRRW"QM"[aS"MXUPQRM"SY"T\PON]"RSSXM"[ZQ["PQL"[ZPS\^Z"[ZN"ZS\MN"QM"Q"c\UR]UL^"TSLM[P\T[USL+" %ZN" TSLTNX[" aQM" TZQPQT[NPU_N]" QM" !"#$% &'()*$% #$*,<2+" .M" YSP" [ZN"UL[NPUSP" ]NMU^L" SY" [ZN" c\UR]UL^K" [ZN" ZNRU`"aQM" [PQLMYNPPN]" [S" [ZN" U]NQ" SY" Q" MTNLUT"PS\[NK"aZUTZ"UL"(NLVQPb"UM"X\cRUTRW"NL[U[RN]"!R60-($0,"0("$.2%I!G#$%R60-($0,"$%k'("$2K+" " #L" Q" LQ[USLQR" TSL[N`[K" <QP^\NPU[P\[NL" PNXPNMNL[M" YS\P[NNL" TZSMNL"RQL]MTQXN" PS\[NM" [ZQ[" QPN"VNQL[" [S" TSONP" [ZN" TS\L[PWHM"VSM[" MTNLUTQRRW" cNQ\[UY\R"XQP[M+"""-QMN]"\XSL"ZNP"XPSYNMMUSLQR"[PQULUL^K"SLN"SY"[ZN"XPSTNMM"]NMU^LNPM"PNVQPbM"ZSa"

[ZN"LQPPSa"MTSXN"SL"SLN"TSLTNX[\QR" U]NQK"\XSL"aZUTZ"NONPW[ZUL^"aQM"cQMN]" l[ZN"ZNRU`m"TQL"cN"XPScRNVQ[UTK"aZNL"TZQRRNL^N]"cW"Q"XPSdNT[HM"N`[NPLQR"PNQRU[W1"""!P.&%"#$%/0')*$7%:6+9% "#6"%'.1$%,"%-'"%1#6**$.-$&9%)$16(+$%,"%:6+%@,.6.1,6**8%

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`XRQULM"[ZN"SXXSP[\LU[UNM"[ZQ["[ZN"XPSTNMM"XNPMXNT[UON"VU^Z["NVcS]W1"

UY"WS\"ZQON"VSPN"VQ[NPUQRK"[ZNPN"UM"VSPN"[S"TZSSMN"YPSV"QL]"VSPN"aQWM"[S"TSLLNT["

9E9""

SP" TSVcULN" [ZN" ]UYYNPNL[" YQT[SPM+" -W" cPUL^UL^" ]UONP^UL^" XNPMXNT[UONM" [S^N[ZNPK" Q"M[STb"SY"VQ[[NP"TQL"cN"XPS]\TN]K"UL"SP]NP"[S"YSPV"2+'7$"#,.-%$.",0$*8%.$:2"SP"!6%"#,0&%1'.1$/"2+"'

eH!\759LM6D:*!G;:9:A;9>S!A6>>9R679=;6:9>S!A6:A5?=C9>!

.M" [ZN" ^NLNPQR" VQPbN[" YSP" c\UR]UL^" ]NMU^L" aNL[" [ZPS\^Z" N`[NLMUON" TZQL^NM"]\PUL^" [ZUM" YUPM[" XZQMN" SY" [ZN"<UbQ]S" 2S\MN" XPSdNT[K" [ZN" ]NMU^L" MSR\[USL" SY" [ZN"]S\cRN"ZNRU`"[\PLN]"S\["[S"cN"YULQLTUQRRW"\LYNQMUcRN+"3ONL[\QRRWK"N`[NPLQR"ULONM[SPM"[SSb"SONP"[ZN"XPSdNT[+"%ZN"SPU^ULQR"U]NQ"SY"QL".PbU[NVQ"]SVUTURN"lQXXPS`+"BEEE"V9m"]NONRSXN]" UL"TSRRQcSPQ[USL"aU[Z" [ZN"NL]"\MNPM" l[ZN".PbU[NVQ"M[QYYm"QL]"SaLN]"cW".PbU[NVQHM" XQP[LNPMK" [Z\M" [\PLN]" UL[S" Q" RQP^N" SYYUTN" c\UR]UL^" lQXXPS`+" 9CEEEV9mK"SaLN]" cW" Q" XPSYNMMUSLQR" XPSXNP[W" YUPV+" #L" [ZUM" N`[NL]N]" ONPMUSLK" .PbU[NVQ"PNXPNMNL[N]"SLRW"SLN"SY"[ZN"Y\[\PN"[NLQL[M"SY"[ZN"ZS\MN+"%ZN"S[ZNP"[NLQL[M"lQL]"[Z\M"NL]" \MNP" PNXPNMNL[Q[UONMm" aNPN" \LU]NL[UYUN]" ]\PUL^" [ZN" ]NONRSXVNL[" SY" [ZN"QPTZU[NT[\PQR"]NMU^L"TSLTNX[+"#L"[ZUM"XNPMXNT[UONK"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"cNTQVN"QL"UVXPQT[UTQcRN"QXXPSQTZ+"""-QMN]" SL" [ZN" ]NONRSXVNL[M" SL" [ZN" VQPbN[K" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL"

cNTQVN" ULTPNQMUL^RW" ]UYYUT\R[" YSP".PbU[NVQ" [S" N`XRQUL" QL]" d\M[UYW" [S" TRUNL[MK" QM" Q"TNL[PQR"MNPOUTN"XPS]\T[+"%S]QWK"NL]"\MNP"XQP[UTUXQ[USL"RUONM"SL"UL"Q"PNOUMN]"ONPMUSL"UL" [ZN" YUPV"QL]" UM"cNUL^"\MN]" UL" YPQ^VNL[M"cW" MSVN".PbU[NVQ"QPTZU[NT[M+"-\[" [ZN"^NLNPQR" QVcU[USL" SY" NM[QcRUMZUL^" [ZUM" VN[ZS]" QM" Q" XQP[" SY" [ZN" YUPVHM" XPS]\T["XSP[YSRUS"aQM"QcQL]SLN]"cW"[ZN"NL]"SY"[ZN"YUPM["XZQMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[+"3ONL[\QRRWK"[ZN"]NXQP[VNL["SY"XPSTNMM"]NMU^L"TRSMN]+"""#L"[ZN"MNTSL]"]PQY["SY"[ZN"<UbQ]S"2S\MNK"aZUTZ"[SSb"XRQTN"QY[NP"VW"YUNR]"aSPbK"

Q" LNa" [NQV" SY" .PbU[NVQ" QPTZU[NT[M" aNPN" QXXSUL[N]" [S" YSPV" [ZN" <UbQ]S" 2S\MN"]NMU^L" [NQV+"<SM[" SY" [ZNMN"aNPN" QYYURUQ[N]" [S" [ZN" YUPVHM".QPZ\M" SYYUTNK" MS" QM" [S"]N[QTZ" [ZN" ]NMU^L" [NQV" YPSV" [ZN" NL]" \MNPM" laZS" aNPN" PNXPNMNL[N]" cW" [ZN"*SXNLZQ^NL" M[QYYm+" .TTSP]UL^" [S" M\cMNh\NL[" TSLONPMQ[USLM" #" ZQON" ZQ]" aU[Z" [ZN"M[QYY"ULOSRON]K"MNONPQR"Q[[NVX[M"aNPN"VQ]N"[S"UL[N^PQ[N"[ZN"PNM\R[M"YPSV"[ZN"SPU^ULQR"XQP[UTUXQ[USL"QT[UOU[UNM"UL[S"[ZN"LNa"XPSdNT[+"-\["]\N"[S"YULQLTUQRK"QL]"XSMMUcRW"QRMS"[S" XPQT[UTQR" PNQMSLMK" [ZNMN" NYYSP[M" SY" [PQLMYNPNLTN" ]S" LS[" MNNV" [S" ZQON" cNNL"YSRRSaN]" [ZPS\^Z+" 6NONPQR" SY" [ZN" M[QYY" ULOSRON]" UL" [ZN" XPSdNT[HM" YUPM[" XZQMN" ZQ]"

9EC""

NU[ZNP" RNY[" [ZN" YUPV" SP" VSON]" SL" [S" LNa" XPSdNT[MK" QL]" [ZNPN" aNPN" LS" XPSTNMM"]NMU^LNPM"QT[UONRW"ULOSRON]"UL"[ZN"MNTSL]"XZQMN+""".PbU[NVQ"VQLQ^N]" [S"]NONRSX"Q"]NMU^L" [ZQ["aQM"QNM[ZN[UTQRRW"TSZNPNL[" QL]" UL"

TSPPNMXSL]NLTN" aU[Z" [ZN" c\]^N[+" -\[" cQMN]" SL" [ZN" XPSdNT[HM" ULU[UQR" ScdNT[UONMK" U["MNNVM" LNTNMMQPW" [S" ]UMT\MM" aZN[ZNP" [ZN" TSLLNT[USL" cN[aNNL" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZN"]NMU^L"MSR\[USL"SY"[ZN"<UbQ]S"2S\MN"VU^Z["cN"MQU]"[S"N`UM[K"aU[Z"PNYNPNLTN" [S" [ZN" XPSdNT[HM" YULQR" ]NONRSXVNL[M+" %ZN" h\NM[USL" MNNVM" [S" cN" aZQ[" U["[QbNM"[S"MNT\PN"PNTS^LU[USL"cN[aNNL"M\TZ"MSTUQR"XPSTNMMNM"SY"UL[NPQT[USLK"SL"[ZN"SLN"ZQL]K"QL]"Q"VQ[NPUQR"PNXPNMNL[Q[USL"SY"Q"c\UR]UL^K"SL"[ZN"S[ZNP+"""%ZN" RULb" cN[aNNL" n[ZN" SP^QLU_Q[USLQR" ULX\[H" XPS]\TN]"cW" [ZN" NL]"\MNPM" UL" [ZN"

XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZN"NVNP^NLTN"SY"QL"QPTZU[NT[\PQR"]NMU^L"MSR\[USL"MNNVM"[S"cN"]NXNL]NL["SL"[ZN"aQW"[ZUM"RULb"UM"cNUL^"YPQVN]K"XPNMNL[N]"QL]"SP^QLU_N]+"#L"MNT[USL" B*" cNRSaK" #" QUV" [S" URR\M[PQ[N" QL]" ]UMT\MM" ZSa" [ZN" PNYNPNLTN" SY" Q" ZNRU`"QXXNQPN]"[S"TSL[PUc\[N"[S"VQUL[QULUL^"Q"YSPV"SY"PNTS^LU[USL"UL"[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT[1" YPSV" [ZN" [PUX" [S" GURLU\M" [ZPS\^Z" [ZN" UL[NPQT[UON" aSPbMZSXMK" UL[NPOUNaMK"TSLONPMQ[USLM" QL]" XPNMNL[Q[USLM+" 2SaNONPK" [ZUM" PNYNPNLTN" VU^Z[" cN" MQU]" [S" ZQON"cPSbNLK"cQMN]"SL"ZSa"[ZN"NONL[M"UL"[ZN"XPSdNT["]NONRSXN]+".M"SLN"SY"[ZN"QPTZU[NT[M"ULOSRON]"UL"YUPM["XZQMNK"PNVQPbN]1"""!M#6"%"#$8%-$"%.':%,+%6.%'0&,.608%'@@,1$%)(,*&,.-A%3"%7,-#"%)$%6%@,.$%#'(+$9%)("%

,"4+%#60&%"'%16"1#%+,-#"%'@%"#$%/0'1$++%:$%:$."%"#0'(-#A2"""%ZUM"LS[USL"SY"SP^QLU_UL^K"\[URU_UL^"QL]"PNTS^LU_UL^"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"

QM"QL"UL[N^PQ[N]"XQP["SY"QL"NVNP^UL^"QPTZU[NT[\PQR"]NMU^L"aURRK"UL"]UYYNPNL["aQWMK"cN"]UMT\MMN]"UL"[ZN"YSRRSaUL^"[aS"MNT[USLM+"""

" '

9E;""

2'"&.+-!N\*!"+33$\+($&.+-!

\'&_''-!$("#.&'"&2!$-0!

%(+"'22!0'2.,-'(2*!$&&'K%&2!

$&!2'-2'K$d.-,!

"

+#$(",-!$+"#&

#L"[ZN"XPNOUS\M"MNT[USLK"#"QUVN]"[S"XPNMNL["Q"XPSOUMUSLQR"S\[RULN"SY".PbU[NVQ"QL]"[ZN" [aS"]UM[ULT[RW"]UYYNPNL["]NMU^L"QXXPSQTZNM" [ZQ["QXXNQP" [S"TSLM[U[\[N" [ZN" YUPVHM"T\PPNL[" QPTZU[NT[\PQR" ]NMU^L" XPQT[UTN+" #L" Q]]U[USLK" [ZN" MNT[USL" XPSOU]N]" Q" cPUNY"QcM[PQT["SY"MSVN"SY"[ZN"TNL[PQR"NONL[M"[ZQ["[SSb"XRQTN"UL"[ZN"TS\PMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[+"#L"[ZUM"MNT[USLK"#"Q]]PNMM"ZSa"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"aQM"cPS\^Z[" UL[S" [ZN" XPSdNT[" QM" Q" VN[ZS]" QL]" ZSa" [ZN" ]NMU^L" [NQVHM" VQLQ^N]" [S"TSRRQcSPQ[N"UL"[ZUM"XPSTNMM+"""%ZN"XPSdNT["MNPON]"QM"QL"SXXSP[\LU[W"[S"N`XRSPN"Q"LNa"QXXPSQTZ"[S"QPTZU[NT[\PQR"

]NMU^L"]NONRSXVNL[+"2NPNK"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USLK"QM"Q"VNQLM"[S"ULYSPV"QL]"NLZQLTN" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"aQM"MNNL"QM" [ZN"TNL[PQR"TSVXSLNL[+"%ZN"QXXPSQTZ"TSVcULN]"TRQMMUTQR"QPTZU[NT[\PQR"MbURRM"lPNXPNMNL[N]"cW"[ZN"QPTZU[NT[Mm"aU[Z" bLSaRN]^N" QcS\[" SP^QLU_Q[USLQR" XPQT[UTN" lPNXPNMNL[N]" cW" [ZN" XPSTNMM"]NMU^LNPMm+"%ZUM"N`XNPUVNL[QR"TSVcULQ[USL"[Z\M"VQ]N"[ZN"]NMU^L"[NQVHM"QcURU[W"[S"TSRRQcSPQ[N"TP\TUQR"[S"[ZN"XPSdNT[HM"M\TTNMM+"""

9EF""

%ZNPN" aNPN" TNP[QUL" TNL[PQR" YNQ[\PNM" [ZQ[" TSLM[U[\[N]" [ZN" [NQVHM" [QMb" QL]" [ZQ["VQ]N"[ZN"]NMU^L"XPSTNMM"\L[PQ]U[USLQR+"%ZN"]NONRSXVNL["SY"[ZN"QPTZU[NT[\PQR"]NMU^L"aQM"N`XNT[N]"[S"[QbN"XRQTN"XQPQRRNR"[S"k"QL]"QM"QL"UL[N^PQ[N]"XQP["SY"k"[ZN"NL]"\MNP"XQP[UTUXQ[USL" QT[UOU[UNM+" #L" [ZUM" aQW" aN" VU^Z[" MQW" [ZQ[" [ZN" QPTZU[NT[\PQR" ]NMU^L"MSR\[USL" aQM" M\XXSMN]" [S" NVNP^N" aZURN" [ZN" cPUNY" SY" PNh\UPNVNL[M" aQM" cNUL^"XPS]\TN]+"2NPNK" [ZN"SP^QLU_N]"XQP[UTUXQ[USL"TQL"cN"MNNL"QM"Q" YPQVNaSPbK" [ZPS\^Z"aZUTZ" SP^QLU_Q[USLQR" XPQT[UTN" UM" U]NL[UYUN]" QL]" [Z\M" QRMS" QM" QL" SXXSP[\LU[W" [S"ULYSPV" [ZN" SP^QLU_Q[USLQR" ]NMU^L+" -QMN]" SL" [ZUM" TSVXRN`" MN[\X" SY" UL[NP[aULN]"YNQ[\PNMK" [ZN" ]NMU^L" [NQV" Q[[NVX[N]" [S" VQbN" MNLMN" SY" [ZN" NONL[M" [ZNW" aNPN"M\cdNT[N]"[S"k"UL"TSVV\LUTQ[USLQR"NYYSP[M"[ZQ["SY[NL"YQURN]+"#L[NPNM[N]"UL"N`XRSPUL^"[ZN"XS[NL[UQR"RULb"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"QL]"[ZN"XSMMUcRN" UVXRUTQ[USLM" [ZQ[" M\TZ" Q" RULb" VU^Z[" TSL[QULK" #" ]UMT\MM" aZW" [ZN"TSRRQcSPQ[USL"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"UL"[ZN"]NMU^L"[NQV"TQVN"S\["QM" MS" ]UYYUT\R[+" #" ZQON" QXXPSQTZN]" [ZN" NONL[M" QL]" NYYSP[M" [ZQ[" [SSb" XRQTN" UL" [ZN"XPSdNT[" QM" XPSTNMMNM" SY" SP^QLU_Q[USLQR" MNLMNVQbUL^" l7NUTb" !A?AK" !AAFK" 9EE!K"9EE9K" 9EEBK" 7NUTb" QL]" -PSaLUL^" !A,BK" 7NUTb" N[" QR+" 9EEFm+" 2NPNK" TZQL^N" UM"XNPTNUON]" QM" Q" XSUL[" SY" ]NXQP[\PNK" QL]" RQL^\Q^N" QL]" TSLONPMQ[USL" QPN" MNNL" QM" QL"SXXSP[\LU[W" [S" VQbN" MNLMN" SY" [ZN" TZQL^N+" ." MU^LUYUTQL[" TZQRRNL^N" QVSL^" [ZN"VNVcNPM" SY" [ZN" ]NMU^L" [NQV" MNNVN]" [S" cN" [ZQ[" [ZNUP" XPSYNMMUSLQR" RQL^\Q^N" QL]"VN[ZS]SRS^UTQR"QXXPSQTZ" [S" [ZN"]NMU^L"XPSTNMM"M\cM[QL[UQRRW"]UYYNPN]+"%ZUM"LS[USL"SY" RUL^\UM[UT"TZQRRNL^NM"aURR"cN"]UMT\MMN]" [ZPS\^Z" [ZN"TSLTNX["SY"XSRWXZSLW" lN+^+"2Q_NL"!AACK"/SPLcNP^NP"N["QR+"9EEBK"6ZS[[NP"9EE,K"-NRSOQ"N["QR+"9EE,m+"""

$2%&8+/*,"&2"-4%&'("@%!$1&'("!%44%4&")&"(0*#+9*$+"#*3&4%#4%8*/+#0&

%ZN" <UbQ]S" 2S\MN" XPSdNT[" aQM" Q" ONL[\PNK" UL" aZUTZ" .PbU[NVQ" QM" QL"SP^QLU_Q[USLK"QL]"QRMS"[ZN"M[QYY"QM"UL]UOU]\QRMK"aNPN"VQ]N"M\cdNT["[S"TZQL^N"NONL[M"[ZQ["ZQ]"MU^LUYUTQL["UVXRUTQ[USLM"SL"[ZN"YUPVHM"XPSYNMMUSLQR"XPQT[UTN+"2NPNK"VQLW"SY"[ZN" YNQ[\PNM" [ZQ[" [PQ]U[USLQRRW" TZQPQT[NPU_N" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" aNPN"PNXRQTN]" cW" LNa" [WXNM" SY" UL[NPQT[USLM" [ZQ["VNQL[" [S" M\XXSP[" [ZN" NVNP^NLTN" SY" Q"]NMU^L" MSR\[USL+" %ZN" NONL[M" [ZQ[" [SSb" XRQTN" UL" [ZN" <UbQ]S" 2S\MN" XPSdNT[" [Z\M"PNXPNMNL[N]" TZQL^NM" [ZQ[" TS\R]" XS[NL[UQRRW" ULYR\NLTN" [ZN" YUPVHM" YSP[ZTSVUL^"

9EB""

XPQT[UTN" M\cM[QL[UQRRW+" -NRSaK" #" aURR" cPUNYRW" UL]UTQ[N" OQPUS\M" TZQL^NM" [ZQ[" [ZN"XPSdNT["MNNVN]"[S"ZSR]"QL]"QRMS"ZSa"[ZNMN"TZQL^N"NONL[M"MNNVN]"[S"cN"]NQR["aU[Z+"""

)H!"49:85!9@!9!?6;:=!6G!M5?97=C75!

#L" SP^QLU_Q[USLQR" RUYNK" [ZN" VWPUQ]" SY" NONL[M" [ZQ[" YSPV" [ZN" ]QURW" XPQT[UTNK" QPN"YPNh\NL[RW" TZQPQT[NPU_N]" cW" TZQL^N1" ]UMTSL[UL\U[UNM" [ZQ[" QPN" Nh\UOSTQR" cW" LQ[\PN"l7NUTb" !A?Am+" 7N" QPN" SY[NL" LS[" M\PN" SY" [ZNUP" VNQLUL^K" QM" [ZNUP" TSL[NL[" VU^Z["TZQL^N"QTTSP]UL^"[S"[ZN"MU[\Q[USLK"UL"aZUTZ"[ZNW"QXXNQP"QL]"[ZN"XNSXRN"ULOSRON]"UL"[ZNV+" #LOSRON]" UL" SP^QLU_Q[USLQR" TSL[N`[MK" aN" [PW" [S" TSVXPNZNL]" M\TZ" TZQL^N"NONL[MK"UL"SP]NP"[S"PN]\TN"[ZNUP"Nh\UOSTQRU[W"QL]"[ZNPNcW"MNT\PN"S\P"MWM[NVHM"QcURU[W"[S"TSL[UL\N"[ZN"QT[USL+".M"aURR"cN"]UMT\MMN]"UL"[ZN"XQPQ^PQXZM"cNRSaK"aN"SY[NL"]S"[ZUM"cW"[QRbUL^"[ZN"TSL[NL["SY"[ZNMN"TZQL^NM"UL[S"N`UM[NLTN+"%ZNMN"TSLONPMQ[USLMK"UL"aZUTZ"aN"QUV"[S"\L]NPM[QL]"[ZN"VQ[[NP"UL"h\NM[USL"[ZPS\^Z"XRQ\MUcRN"N`XRQLQ[USLMK"VU^Z["cN"TQRRN]"LN^S[UQ[USLM+"7N"LN^S[UQ[N"[ZN"TSL[NL["SY"[ZN"TZQL^N"NONL["aN"QPN"M\cdNT[N]"[SK"QTTSP]UL^"[S"TSL[N`["QL]"TSL]U[USLM+"""%S" .PbU[NVQHM" XPSYNMMUSLQR" XPQT[UTNK" [ZN" <UbQ]S" 2S\MN" XPSdNT[" ULOSRON]"

M\cM[QL[UQR"TZQL^NM" UL".PbU[NVQ+"$S["SLRW"aU[Z"PNYNPNLTN"[S" [ZN"\L\M\QR"MU[\Q[USL"[ZQ["[ZN"XPSdNT["PNXPNMNL[N]K"UL"aZUTZ".PbU[NVQ"ZNR]"MNONPQR"SY"[ZN"XPSdNT[HM"VSM["TNL[PQR"PSRNM1"QM"TRUNL[K"NL]"\MNPK"QPTZU[NT[K"QL]"XPSTNMM"]NMU^LNP+".RMSK"[ZN"XPSdNT["S\[RULN"PNXPNMNL[N]"MU^LUYUTQL["TZQL^NM"[S"[ZN"^NLNPQR"QMMU^LVNL["SY"XPS]\TUL^"QL"QPTZU[NT[\PQR"]NMU^L"MSR\[USL+"%ZNMN"TZQL^NM" ULTPNQMUL^RW"MNNVN]"[S"cN"XPNMNL[" UL"OQPUS\M" XQP[M" SY" [ZN" ]NMU^L" YUNR]" UL"(NLVQPbK" UL" [ZN" XNPUS]" XPUSP" [S" [ZN"<UbQ]S"2S\MN" XPSdNT[+" %ZNW" QXXNQPN]" UL" [ZN" VQPbN[" YSP" c\UR]UL^" ]NMU^L" Q[" RQP^NK" aU[Z"PNYNPNLTN"[S"[ZN"^PSaUL^"UL[NPNM["UL"YSP"N`QVXRN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"SP"Q]OQLTN]" [NTZLSRS^Wg" UL" QTQ]NVUT" aPU[UL^M" lN+^+" -PQL]" !AA;K" =UMZNP" 9EEEK" 2URR"!AAAK" 9EE!K" 5NQ[ZNPcQPPSa" 9EE!K" -NUV" QL]" 7Ucib" JNLMNL" 9EEFmg" UL" X\cRUT"N`ZUcU[M" lN+^+" (QLUMZ" .PTZU[NT[\PQR" *NL[NPHM" N`ZUcU[USL" q%SS" 4NPYNT[1" ?" $Na"(NLVQPbMr" UL" 9EE;mK" QL]" QRMS" UL" UL[NPLQR" .PbU[NVQ" ]ST\VNL[M" lN+^+" =NR][ZQ\M"9EE;K"9EEBm+"6SVN"SY"[ZNMN"[NL]NLTUNM"QPN"M\VVN]"\X"UL"[ZN"YSRRSaUL^"h\S[Q[USL"[QbNL"YPSV"QL"UL[NPOUNa"aU[Z".PbU[NVQHM"YSPVNP"<(K"QRMS"UL[PS]\TN]"UL"*ZQX[NP";+"#["]NMTPUcNM"MSVN"SY"[ZN"TZQRRNL^NM"[ZQ["[ZN"XPSYNMMUSL"T\PPNL[RW"MNNVM"[S"cN"YQTN]"aU[ZK"YPSV"ZUM"OUNaXSUL[1"%

9E?""

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aNPN" Q]]PNMMN]"]UPNT[RW" UL" [ZN"<UbQ]S"

2S\MN"XPSdNT[+"%ZN"!.$:%"8/$+%'@%7$"#'&+9%:#$0$%$.&%(+$0+%60$%7'0$%$<"$.+,;$*8%,.;'*;$&% ,.% ;60,'(+% /#6+$+% '@% "#$% &$+,-.% /0'1$++2" VQ[NPUQRU_N]" UL" [ZN" XPSdNT["[ZPS\^Z" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" .RMSK" [ZN" !,."$-06"$&% 6.&% +8.1#0'.,B$&%61",;,",$+2"TQL"cN"MQU]"[S"PNYNP"[S"SLN"SY"[ZN"XPSdNT[HM"TNL[PQR"U]NQM1"[S"XPS]\TN"[ZN"cPUNY" SY" PNh\UPNVNL[M" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" MSR\[USL" UL" Q" TSLT\PPNL[" QL]"TSL[UL\S\M" ]NMU^L" XPSTNMM+" .M" aN" ZQON" MNNL" QcSONK" [ZN" S\[RULN" SY" [ZN" <UbQ]S"2S\MN" XPSdNT[" M\cM[QL[UQRRW" ]UYYNPN]" YPSV" [ZN" [PQ]U[USLQR" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMK"QTTSP]UL^"[S"YSP"N`QVXRN"[ZN"TRQMMUTQR"]NMU^L"XPQT[UTN"UL".PbU[NVQ+"-W"LS["XPSOU]UL^"Q"cPUNY"SY"PNh\UPNVNL[MK"UL"aZUTZ"UL]UTQ[USLM"[S"ULYSPV"[ZN"YSP[ZTSVUL^"]NMU^L" MSR\[USL" UM" ]NYULN]K" [ZN" MN[\X" MNNVM" [S" PNXPNMNL[" Q" cPSQ]NP" YUNR]" SY"SXXSP[\LU[UNM+"%ZUM"VU^Z["cN"aZQ["[ZN"<("UL"[ZN"h\S[Q[USL"TZQPQT[NPU_NM"QM"Q"MZUY["YPSV"!6.%$<61"%6.&%:$**N&$@,.$&%601#,"$1"(06*%/,$1$2"[SaQP]M"!6%+'1,6*%')F$1"%O%6%@067$:'05%@'0%6*"$0.6",.-%61",;,",$+2+""

OH!"6:B57@9=;6:!9@!9!A5:=79>!B54;A>5!!

q6U[\Q[USLMK"SP^QLU_Q[USLMK"QL]"NLOUPSLVNL[M"QPN"[QRbN]"UL[S"N`UM[NLTNr"l7NUTb"N[" QR+" 9EEF1" ;AEm+" .M" 7NUTb" N[" QR+" XSUL[" S\[" UL" [ZUM" M[Q[NVNL[" XNSXRN" [PW" [S"TSVXPNZNL]" [ZN" TZQL^N" NONL[M" [ZNW" QPN" M\cdNT[N]" [S" UL" [ZNUP" XPQT[UTNK" cW" [QRbUL^"[ZNUP"aQW"[ZPS\^Z"[ZNV+"-NRSaK"#"Q[[NVX["[S"N`XRSPN"Q"YNa"SY"[ZN"NONL[M"[ZQ["[SSb"XRQTN" UL" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" [ZPS\^Z" [ZN" aQW" RQL^\Q^N" aQM" \MN]" QL]"TSLONPMQ[USLM"STT\PPN]+""#L" [ZN"XPSdNT[K" [ZN".PbU[NVQ"M[QYY"VNVcNPM"aNPN"VQ]N"M\cdNT[" [S"Q"M\cM[QL[UQR"

L\VcNP" SY" TZQL^N" NONL[M+" 'PTZNM[PQ[N]" aSPbMZSXMK" UL[NPOUNaMK" Q" M\PONWK" QL]"OQPUS\M"XRNLQPW"MNMMUSLM"aNPN"QRR"N`QVXRNM"SY"QT[UOU[UNM"[ZQ["[ZN"XQP[UTUXQL[M"[PUN]"[S"

9E,""

\L]NPM[QL]" QL]" TSVXPNZNL]+" #L" [ZNMN" QT[UOU[UNMK" [ZN" YUPVHM" ]QURW" XPQT[UTN" aQM"Q]]PNMMN]+"%ZN"QMXUPQ[USL"aQM"[S"\MN"[ZN"]NONRSXVNL["SY"[ZN"LNa"SYYUTN"c\UR]UL^"QM"QL"SXXSP[\LU[W"[S"TPNQ[N"UVXPSON]"XZWMUTQR"MXQTNM"[S"M\XXSP["Y\[\PN"XPQT[UTN+"2NPNK"[ZN" ULX\[" [S" ULYSPV" [ZN" QPTZU[NT[\PQR" ]NMU^L" SY" [ZN" c\UR]UL^" aQM" VNQL[" [S" cN"TQ[QRW_N]"QL]"U]NL[UYUN]"[ZPS\^Z"TSLONPMQ[USLM"QVSL^"Q"M\cM[QL[UQR"^PS\X"SY"TRUNL["PNXPNMNL[Q[UONM" l.PbU[NVQ" M[QYY" VNVcNPMm+" #L" [ZNMN" XPSTNMMNMK" [ZN" XQP[UTUXQL[M"[QRbN]" [ZNUP" XPQT[UTN" YSP[ZK" UL" SP]NP" [S" TSVXPNZNL]" U[+" 'L" [ZUM" dS\PLNW" [SaQP]M"QP[UT\RQ[USLK" [ZNW"aNPN"LS["SLRW"N`XNT[N]"[S"]N[NT["aZQ[" [ZNW"QRPNQ]W"bLNa"QcS\["[ZNUP" aSPb" YPSV" Q" MXQ[UQR" XNPMXNT[UON+" .RMSK" [ZN" MN[\X" UL]UTQ[N]" [ZQ[" [ZNW" VU^Z["]NONRSX"LNa"U]NQM"QcS\["XS[NL[UQR"Q]OQLTNVNL[M"[S"[ZN"aSPb+""""#L" [ZN"XPSdNT[K" RQL^\Q^N"QL]"TSLONPMQ[USL"XRQWN]"QL" UVXSP[QL["XQP["SL"MNONPQR"

RNONRM+" 'L" [ZN" XQP[UTUXQL[" RNONRK" U[" ULOSRON]" N`TZQL^NM" cN[aNNL" NL]" \MNP"PNXPNMNL[Q[UONM"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM+"%ZN"RNONR"[ZQ["UM"UL"YST\M"UL"[ZUM" MNT[USLK" ZSaNONPK" PQ[ZNP" ULOSRONM" [ZN" XPSTNMM" aU[ZUL" [ZN" ]NMU^L" [NQV+"5QL^\Q^N"QL]"TSLONPMQ[USLM"aNPN"\MN]"QM"Q"VNQLM"YSP"[ZN"[NQV"[S"^N["[ZN"dSc"]SLN"UL"OQPUS\M"XQP[M"SY"[ZN"XPSTNMMK"YSP"aZUTZ"[ZNW"aNPN"PNMXSLMUcRN1"#L"[ZN"XPSTNMM"SY"XPNXQPUL^"QL]" YQTURU[Q[UL^" [ZN"XQP[UTUXQ[USL"QT[UOU[UNMK" UL" [ZN"XPSTNMM"SY" [PQLMRQ[UL^"[ZN" VQ[NPUQR" XPS]\TN]" UL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" QL]" YULQRRWK" QM" Q" VNQLM" [S"SP^QLU_N" [ZNUP" SaL" ]NMU^L" XPSTNMM+" .M" [ZN" ]NMU^L" [NQV" UL]NN]" ULOSRON]" XNSXRN"YPSV" ]UYYNPNL[" XPSYNMMUSLQR" cQTb^PS\L]MK" [ZNMN" XPSTNMMNM" TSL[QULN]" MNONPN"TZQRRNL^NMK" ]\N" [S" ]UYYNPNLTNM" UL" XPSYNMMUSLQR" RQL^\Q^N" QL]" VN[ZS]SRS^UTQR"QXXPSQTZ+" %ZN" QcURU[W" [S" N`TZQL^N" XNPMXNT[UONM" QL]" QP[UT\RQ[N" [ZN" UMM\NM" UL"h\NM[USLK"UL"[ZN"XPSdNT[K"[Z\M"cNTQVN"Q"TNL[PQR"TZQRRNL^N+"-NRSaK"#"QUV"[S"URR\M[PQ[N"QL]"]UMT\MM"[ZN"[NQVHM"Q[[NVX[M"[S"TSRRQcSPQ[N"\L]NP"[ZN"\LYQVURUQP"TSL]U[USLM"[ZQ["[ZN"XPSdNT["ZNR]+""""-\["cNYSPN"#"^S"UL[S"[ZN"NONL[M"SY"[ZN"XPSdNT["UL"VSPN"]N[QURK"[ZN"QVcU^\U[W"[ZQ["

TSLONPMQ[USLM" TSL[QUL" QM" Q" ONZUTRN" MZS\R]" cN" cPUNYRW" LS[N]+")MN]" UL" XPSTNMMNM" SY"MSTUQR"QT[USLK"TSLONPMQ[USLM"QPN"cQMN]"SL"TSL[UL\S\M"N`TZQL^NM1"UL[NPXPN[Q[USLM"QL]"[PQLMRQ[USLM" QVSL^" [ZSMN" ULOSRON]" UL" [ZN" XQP[UT\RQP" TSL[N`[+" %ZN" TSL[NL[" SY" M\TZ"MSTUQR"TSLONPMQ[USLM"UM"TQ[N^SPU_N]K"RQcNRN]"QL]"QP[UT\RQ[N]"UL"aQWM"[ZQ["VSM["RUbNRW"VNQL"]UYYNPNL[" [ZUL^M" [S"]UYYNPNL["XNSXRN+"%ZN"VNQLUL^" UL" [ZNMN"N`TZQL^NM" UM"LS["\LNh\UOSTQRK" c\[" QVcU^\S\M+"7NUTb"XSUL[M" [S" [ZNMN" TSL[UL\S\M" MZUY[M" UL"VNQLUL^"aZNL"ZN"PNVQPbM1"q%ZNPN"UM"QRaQWM"Q"MRUXXQ^N"cN[aNNL"aSP]M"QL]"aZQ["[ZNW"PNYNP"

9EA""

[S+" 7SP]M" QXXPS`UVQ[N" [ZN" [NPPU[SPWg" [ZNW" LNONP" VQX" U[" XNPYNT[RW+" %ZQ[" UM" aZW"MNLMNVQbUL^"LNONP"M[SXM+r"l7NUTb"!AAF1"!E?m+"#["UM"QL"SL^SUL^"]UQRS^\NK"UL"aZUTZ"U]NQM"QPN"QP[UT\RQ[N]"QL]"XPNMNL[N]K"QL]"XNPTNX[USL"QL]"PNYNPNLTNM"QPN"NM[QcRUMZN]"QL]" XSMMUcRW" TZQL^N]+" #L" NONPW" TSLONPMQ[USLQR" NLTS\L[NPK" LNa" SXXSP[\LU[UNM" QPN"Q]]N]" [S" [ZN" MU[\Q[USL1" [ZN" MNLMNVQbUL^" [ZQ["LNONP" M[SXM+"7NUTb" PNYNPM" [S"=PNNMNK"aZS" QRMS" NVXZQMU_NM" [ZUM" LNTNMMQPW" ^QX" cN[aNNL" Q" VNMMQ^N" QL]" ZSa" U[" UM"XNPTNUON]1" q*SLM[P\T[UL^" MNL[NLTNM" [S" N`XPNMM" M[Q[NVNL[M" QcS\[" N`XNPUNLTN"UVXSMNM"]UMTPN[N"]NYULU[USLM"SL"M\cdNT["VQ[[NP"[ZQ["UM"TSL[UL\S\M+"'LN"TQLLS["PNXSP["UL" Q" MNL[NLTN" QL" ScMNPOQ[USL" QcS\[" N`XNPUNLTN" aU[ZS\[" Q" TSLTNX[" [ZQ[" M[P\T[\PNM"aZQ[" SLN" UM" ScMNPOUL^+" 'cMNPOQ[USL" M[Q[NVNL[M" ]NMTPUcN" LS[" XNPTNX[USLM" c\["XRQLLN]" XNPTNX[USLM+" (Q[Q" QPN" LS[" ^UONL" cW" N`XNPUNLTNK" c\[" cW" [ZN" TSLTNX[" SY"RQL^\Q^N" \MN]" [S" UL[NPXPN[" U[r" l=PNNMN" !A,E1" 9," UL" 7NUTb" !AAF1" !E?m+" 7ZNL"QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPM" Q[[NVX[" [S" TSRRQcSPQ[N" UL" [ZN" <UbQ]S" 2S\MN"XPSdNT[K"NQTZ"XQP[W"RQTb"[ZN"cQMUT"TS]N"[S"ZNRX"LQOU^Q[N"[ZPS\^Z"ZSa"[ZN"S[ZNP"ZQRY"[QRbM"QL]"aZQ["[ZSMN"aSP]M"VU^Z["VNQL+"%ZNW"]SLH["ZQON"NQTZ"S[ZNPHM"M[P\T[\PUL^"TSLTNX[M+"""7NUTb" QL]" -PSaLUL^" ]NMTPUcN" [ZUM" XPSTNMM" SY" TSVV\LUTQ[USL" QM" Q" q]S\cRN"

UL[NPQT[r"cN[aNNL"[ZN"MNL]NP"QL]"[ZN"PNTNUONP1"Q"PNTUXPSTQR"N`TZQL^N"cN[aNNL"[aS"XQP[UNM+".^QULK"[ZN"LNTNMMQPW"^QX"cN[aNNL"[ZN"UL[NL[USL"SY"Q"VNMMQ^NK"QL]"[ZN"aQW"U[" UM" PNTNUON]" cW" [ZN" PNTUXUNL[MK" UM" NVXZQMU_N]+" .RMSK" [ZNW" PNVQPb" [ZQ[" M\TZ"N`TZQL^NM"SY"VNQLUL^"QPN"PNTUXPSTQR"QL]"TSL[UL\S\M"l7NUTb"QL]"-PSaLUL^"!A,B1"9;;m" QL]" [ZQ["VNMMQ^NM" NVNP^N" QM" [ZN" XQP[UNM" ULOSRON]" bNNX" YSPVUL^K" ULYSPVUL^"QL]"[PQLMYSPVUL^"[ZNV"UL"[ZN"TS\PMN"SY"[ZNUP"N`TZQL^NM+".M"VNL[USLN]"QcSONK"[ZN"]NMU^L"XPSTNMM"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["aQM"QL"Q[[NVX["Q["TSRRQcSPQ[USL"QTPSMM"]UMTUXRULNM+" %S" [ZN" QPTZU[NT[MK" [ZN" XPSdNT[HM" TSL]U[USLM" TQVN" QTPSMM" QM" MSVNZSa"\LVQLQ^NQcRN+"#["ULOSRON]"QL"QcMNL["cPUNY"SY"PNh\UPNVNL[M"QL]"[ZN"XPS]\T[USL"QL]"[PQLMRQ[USL" SY" Q" ZU^ZRW" TSVXRN`" ULX\[" YPSV" [ZN" TRUNL[" SP^QLU_Q[USL" l.PbU[NVQm+"%ZNW" TSLMU]NPN]" [ZN"VNMMQ^N" YPSV" [ZN" NL]" \MNPM" h\U[N" RU[NPQRRW1"7ZNL" NL]" \MNP"PNXPNMNL[Q[UONM" QPN" ULOU[N]" [S" TSL[PUc\[N" [S" [ZN" ]NMU^L" XPSTNMMK" [ZN" N`XNT[Q[USLM"XPS]\TN]"cW"[ZUM" ULOSRONVNL["aURR"VSM[" RUbNRW"cN"]UYYUT\R[" [S"MQ[UMYW+"%ZN"XPSTNMM"]NMU^LNPMK"SL"[ZN"S[ZNP"ZQL]K"XNPTNUON]"[ZUM"YPQVNaSPb"QM"SLN"[ZQ["PNXPNMNL[N]"LNa"PNMS\PTNM" [S" [ZN" ]NMU^L" XPSTNMM+" 2NPNK" [ZN" XPS]\T[USL" SY" QL" Nh\UOSTQR" ULX\["XPSOU]N]"QL"SXXSP[\LU[W"YSP"V\R[UXRN"[PQLMRQ[USLM+"7N"VU^Z["[Z\M"MQW"[ZQ["[ZN"[aS"XQP[UNM"XNPTNUON]" [ZN"TSL]U[USLM" [ZNW"aNPN" M\cdNT[N]" [S" UL" [ZNUP"SaL"XPSYNMMUSLQR"XNPMXNT[UON"l7NUTb"QL]"-PSaLUL^"!A,BK"7NUTb"!A?AmK"QL]"NLQT[N]"[ZN"MU[\Q[USL"UL"

9!E""

PQ]UTQRRW"]UYYNPNL["aQWM"l7NUTb"!A?AK"!AAFK"9EE!m+".M"#"aURR"URR\M[PQ[N"QL]"]UMT\MM"cNRSaK" [ZNMN" ]UYYNPNL[" PNQ]UL^M" VQ]N" U[" ]UYYUT\R[" [S" bNNX" \X" [ZN" XPSTNMM" SY"]NMU^LUL^+"""

*#&-#)*8+3+*(&*''("*!2&$"&$2%&*(!2+$%!$-(*3&,%4+0#&'("!%44&

#L" [ZN" YSRRSaUL^K" #" aURR" ]UMT\MM" Q" YNa" NONL[M" UL" VSPN" ]N[QURK" UL" SP]NP" [S"\L]NPM[QL]" VSPN" QcS\[" [ZN" TSRRQcSPQ[USLQR" TZQRRNL^N" [ZQ[" [ZN" ]NMU^L" [NQV" aQM"M\cdNT[N]"[S"UL"[ZN"XPSdNT[+""'

)H!39C:A4;:8!=45!M5@;8:!?76A5@@*!R9@;A!M;@AC@@;6:@!=49=!

A4979A=57;<5M!=45!?76E5A=!6C=>;:5!

.M" S\[RULN]" UL" [ZN" XPNOUS\M" MNT[USLK" [ZN" ]NMU^L" [NQV" N`XNPUNLTN]" M\cM[QL[UQR"]UYYUT\R[UNM"aZNL" [PWUL^" [S" RQ\LTZ" [ZN"<UbQ]S"2S\MN"XPSdNT["QM"Q"]NMU^L"XPSTNMM+"%ZNUP"NYYSP["ZQ]"[ZN"TZQPQT[NPUM[UTM"SY"Q"TRQMMUTQR"MNLMNVQbUL^"MU[\Q[USLK"UL"aZUTZ"Q"^PS\X"SY"XNSXRN"M[P\^^RN" [S" U]NL[U[W" [ZN"YQT[SPM" [ZQ["TSVXPUMN" [ZNUP"ScRU^Q[USLMK" UL"SP]NP" [S" cN" QcRN" [S" M[QP[" aSPbUL^+" %ZN" [NQVHM" UL[NPLQR" ]UOUMUSL" SY" RQcSP" QL]"TSLMSRU]Q[USL"QM"Q"TPSMMD]UMTUXRULQPW"^PS\X"aQM"\LMN[[RN]"aZNL"[ZN"XPSdNT["M[QP[N]K"QL]"[ZN"^PS\X"]U]LH["VNN["\L[UR"MZSP[RW"cNYSPN"[ZN"YUPM["XQP[UTUXQ[USL"QT[UOU[UNM"aNPN"RQ\LTZN]+"""(\PUL^" [ZUM" ULU[UQR" VNN[UL^K" [ZN" XPSdNT[" aQM" XPNMNL[N]" QM" QL" N`XNPUVNL[" [ZQ["

ULOSRON]"LNa"QXXPSQTZNM"[S"[ZN"]NMU^L"XPSTNMM+"2NPNK"[ZN"U]NQ"SY"!G#$%U''5%'@%"#$%\'(+$2"aQM"UL[PS]\TN]"QM"Q"TNL[PQR"XQP["SY"[ZN"N`XNPUVNL[1"%S"XPS]\TN"[ZN"cPUNY"SY"PNh\UPNVNL[M" XQPQRRNR" [S" [ZQ[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L" MSR\[USL+" #L" [ZUM" XPSTNMMK"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"TSVXSLNL[M"aNPN"M\XXSMN]"[S"ULYSPV"NQTZ"S[ZNP" UL" Q" V\[\QRK" TSL[UL\S\M" XPSTNMM+" #Y" aN" PNTQRR" [ZN" LS[USL" SY" [ZN" cPUTSRQ^N"]NMU^L"XPQT[UTN"lTY+"MNT[USL"B.mK"[ZN"S\[RULN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT["VU^Z["cN"MQU]" [S" PNYRNT[" [ZUM" QXXPSQTZ+"6\TZ"XPQT[UTN"ZQ]K" UL" YQT[" QRPNQ]W"cNNL" N`XRSPN]" UL".PbU[NVQ"UL"Q"YNa"XPNOUS\M"XPSdNT[M+"-\["U["ZQ]"LS["ULOSRON]"[ZN"UL[N^PQ[USL"SY"M[QYY"VNVcNPM" aU[Z" Q" cQTb^PS\L]" UL" N[ZLS^PQXZUT" QXXPSQTZNMK" RN[" QRSLN" ULOSRON]"

9!!""

.PbU[NVQ"QM"[ZN"QT[\QR"TRUNL[+"7ZURN"Q"TRSMN"ULOSRONVNL["SY"[ZN"NL]"\MNPM"ZQ]"cNNL"SP^QLU_N]" UL" XPNOUS\M" XPSdNT[M" cW" QPTZU[NT[MK" [ZN" UL[PS]\T[USL" SY" [ZN" XPSYNMMUSLQR"XPSTNMM"]NMU^LNPM"VQ]N"[ZN"MU[\Q[USL"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["\LYQVURUQP+"".[" [ZN" MQVN" ULU[UQR" VNN[UL^K" [ZN" LS[USL" SY" ]NMU^LUL^" YPSV" !"#$% /0'1$++%

/$0+/$1",;$2"aQM" QRMS" UL[PS]\TN]" QM" Q" TNL[PQR" XSUL[" SY" ]NXQP[\PN+"<W" YUNR]" LS[NM"YPSV"[ZN"VNN[UL^"PNXSP["SL"RNL^[ZW"]UMT\MMUSLM"SY"[ZN"TSLTNX["SY"XPSTNMM"Q["RQP^NK"QL]" U[" TQVN" YSP[Z" [ZQ[" [ZN"TSLTNX["ZQ]"TSVXRUTQ[N]"TSLLS[Q[USLM"aU[ZUL" [ZN" YUPV+"'LN"SY" [ZN"XPSTNMM"]NMU^LNPMK"aZS"aQM"QRMS"Q" [PQULN]"QPTZU[NT[K"\L]NPRULN]" [ZQ[" U["aQM"UVXSP[QL["[S"!/("%&':.%"#$%0$*6",'.%)$":$$.%=601#,"$1"(0$%6+%6?%/0'1$++%6.&%=601#,"$1"(0$%6+%6?%/,$1$%'@%60"%,.%6.%$,"#$0L'0%/$0+/$1",;$9%:#,1#%,+%#':%76.8%+"6@@%7$7)$0+%+",**%+$$%,"2+"""6ZN" NLTS\PQ^N]" [ZN" ]NMU^L" [NQV" [S" cN% !:,**,.-% "'% &$+,-.% 6% #'(+$% )6+$&% '.%

1'7/*$"$*8% &,@@$0$."% /0$7,+$+% 6.&% /0,.1,/*$+2A" #[" TQVN" YSP[Z" [ZQ[" [ZN" YUPV" ZQ]" Q"[PQ]U[USL" YSP" ]UMT\MMUL^" QPTZU[NT[\PN" QM" [ZQ[" SY" Q"!/,$1$% '@% 60"2" ONPM\M" [ZQ[" SY" Q"!/0'1$++2" k" QM" Q" ]UTZS[SVS\M" PNRQ[USLMZUX" PQ[ZNP" [ZQL" Q" LNTNMMQPW"UL[NP]NXNL]NLTW+"%ZN"<UbQ]S"2S\MN"XPSdNT["aQM"[Z\M"XPNMNL[N]"QM"QL"SXXSP[\LU[W"[S" N`XRSPN" !"#$% /0'1$++% /$0+/$1",;$2" QL]" cPUL^" [ZN" XNPTNX[USL" SY" M\TZ" SXXSMU[N"M[QLTNMK" [S"QL"NL]+" #L" [ZUM"XQP[UT\RQP" N`TZQL^NK" [ZN"XPSTNMM"]NMU^LNPM" NVXZQMU_N]"[ZQ["]NMU^LUL^"YPSV"!"#$%/0'1$++%/$0+/$1",;$2"]U]LH["RNQON"S\["!"#$%/,$1$%'@%60"2K"aZURN"[ZN"QPTZU[NT[M"YSPVQRRW"]NTRQPN]"QL"UL[NPNM["UL"QL]"QL"QTTNX[QLTN"[SaQP]M"[ZN"XPSTNMM"XNPMXNT[UON+"""#["MNNVM" [PUOUQR" [S"NVXZQMU_N" [ZQ["QPTZU[NT[\PQR"]NMU^L"NVNP^NM"YPSV"Q"XPSTNMM"

SY"MNh\NL[UQR"NONL[MK"QL]"[ZQ["[ZN"QNM[ZN[UTQR"QL]"Y\LT[USLQR"h\QRU[UNM"SY"[ZN"c\UR]UL^"lQM" Q" XPS]\T[m" QPN" RUbNRW" [S" cN" NOQR\Q[N]+" %PUOUQR" SP" LS[K" [ZN" [aS" XSMU[USLM" aNPN"MSVNZSa" XPNMNL[N]" QM" ]UTZS[SVUNM" UL" .PbU[NVQ" ]\PUL^" [ZUM" XNPUS]+" %ZNMN" aNPN"XNPTNUON]" QM" SXXSMU[N" XNPMXNT[UONMK" aZUTZ" PNXPNMNL[N]K" SL" [ZN" SLN" ZQL]K" [ZN"XPSYNMMUSLHM" M[PSL^" [PQ]U[USLMK" QL]" SL" [ZN" S[ZNPK" LNa" [WXNM" SY" ]NMU^L" QXXPSQTZNM"[ZQ[" aNPN" NLZQLTN]" cW" Q" TRSMNP" PNRQ[USLMZUX" aU[Z" [ZN" TRUNL[" SP^QLU_Q[USL+" %ZN"]UTZS[SVW"VU^Z["cN"MQU]"[S"ZQON"MN["Q"YP\U[Y\R"QL]"UL[NPNM[UL^"]UMT\MMUSL"UL"VS[USL"UL" [ZN" YUPV+" 2SaNONPK" U[" QRMS" QXXNQPN]" [ZQ[" [ZN" LS[USL" SY" M\TZ" SXXSMU[USLQR"XNPMXNT[UONM"aQM"M\cMNh\NL[RW"ZQP]"[S"PNONPMN+".TTSP]UL^"[S"MNONPQR"M[QYY"VNVcNPM"#" [QRbN]" aU[Z" UL" ULYSPVQR" TSLONPMQ[USLM" QM" aNRR" QM" UL" UL[NPOUNa" MU[\Q[USLMK" [ZN"SPU^ULQR" XPNMNL[Q[USL" SY" [ZUM" PNRQ[USLMZUX" QM" Q" TZQMV" ZQ]" ZQ]" QL" \LYSP[\LQ[N"

9!9""

ULYR\NLTN" SL" [ZN" XS[NL[UQR" [ZQ[" [ZN" [NLMUSL" cN[aNNL" [ZN" XNPMXNT[UONM" VU^Z[" ZQON"ZNR]+"""

OH!$PR;8C6C@!M5@;8:!A6:M;=;6:@!A9>>!G67!@5:@5P9L;:8*!!"#$%&

$'(&)(&*+,,-*(.&%-&.-&#('(/0!

(\PUL^" [ZNMN" ULU[UQR" ]UMT\MMUSLM" SY" aZQ[" !"#$% /0'1$++% /$0+/$1",;$2" VU^Z["PNXPNMNL["UL"Q"XPQT[UTQR"]NMU^L"TSL[N`[K"[ZN"VNVcNPM"SY"[ZN"]NMU^L"[NQV"\L]NPaNL["[ZNUP"YUPM["Q[[NVX[M"Q["SP^QLU_Q[USLQR"MNLMNVQbUL^+"2NPNK"[ZN"M[QYY"VNVcNPM"k"QL]"UL"XQP[UT\RQP" MSVN"SY" [ZN"QPTZU[NT[MK" [S"aZSV" [ZN"VN[ZS]"SY"SP^QLU_N]"XQP[UTUXQ[USL"aQM"LNa"k" [PUN]" [S"aPQX" [ZNUP"ZNQ]M"QPS\L]" [aS"cQMUT"h\NM[USLM" [ZQ["TZQPQT[NPU_N"XPSTNMMNM"SY"MNLMNVQbUL^+"q7ZQ[HM"[ZN"M[SPW"ZNPNor"QL]"qaZQ["MZS\R]"#"]S"LN`[or"lN+^+"7NUTb" 9EE!1" ;B9K"7NUTb" N[" QR+" 9EEF1" ;!Em+" #L" PN^QP]M" [S" [ZN" YUPM[" h\NM[USL"lqaZQ[HM"[ZN"M[SPW"ZNPNormK"NVXUPUTQR"VQ[NPUQR"YPSV"[ZUM"XNPUS]"MZSaM"[ZQ["[ZN"[NQV"]UMT\MMN]" ZSa" [ZUM" bUL]" SY" VN[ZS]" SP" QXXPSQTZ" TS\R]" PNXPNMNL[" Q" XPQT[UTQR"YPQVNaSPb"YSP"[ZN"]NMU^L"XPSTNMM1"7ZQ["bUL]"SY"N`NPTUMNM"aS\R]"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM" ULOSRONo"7ZNL"aS\R]" [ZNW"VNN[" QM" Q" [NQV" UL" SP]NP" [S" TSSP]ULQ[N" [ZNUP"aSPbo"2Sa"aS\R]"VQLDZS\PM"cN"QTTS\L[N]"YSP"UL"[ZN"XPSdNT[oK"QL]"VSPN+"%ZPS\^Z"Q" PQL^N"SY" ]UMT\MMUSLMK" [ZN" [NQV" [PUN]" [S" NM[QcRUMZ" Q"V\[\QR" \L]NPM[QL]UL^"SY" [ZN"TSL]U[USLM" [ZNW"aNPN" M\cdNT[N]" [SK" UL" SP]NP" [S" XPNXQPN" Q" PNMXSLMN+"7NUTbHM" RQ[[NP"h\NM[USL"lqaZQ["MZS\R]"#"]S"LN`[orm"TQL"[Z\M"cN"MNNL"QM"Q"TSL[UL\Q[USL"SY"[ZN"YUPM[+"%ZN"[NQV"[PUN]K"LS["SLRW"[S"^PQMX"[ZN"YSPVQ["SY"[ZN"]NMU^L"XPSTNMM"[ZNW"aNPN"QcS\["[S"NL[NPK"c\["QRMS"[S"TSVXPNZNL]"aZQ["M\TZ"TSL]U[USLM"aS\R]"VNQL"[S"[ZN"XPQT[UTQR"XPSTNMM"SY"]NMU^LUL^+"""%ZN" QPTZU[NT[M" N`XPNMMN]" XQP[UT\RQP" TSLTNPL" aU[Z" PN^QP]M" [S" [ZN" VQ[NPUQR"

XPS]\TN]"cW"[ZN"NL]"\MNPM+"2Sa"aS\R]"[ZUM"S\[X\["cN"[PQLMRQ[N]"UL[S"Q"YSPVQ["[ZQ["TS\R]"ULYSPV"[ZN"QT[\QR"XPSTNMM"SY"]NMU^LUL^o"""!3%:'008%6)'("%:#6"%:$40$%+(//'+$&%"'%&'%:,"#%6**%"#,+%,./("9%6.&%#':%:$4**%)$%

6)*$%"'%/0'1$$&%6@"$0%"#$%:'05+#'/+A%\':%16.%:$%+$1(0$%"#6"%,"%-$"+%6++$7)*$&%6.&%/("%,."'%6%@'07%:$%16.%(+$J2%"".TTSP]UL^" [S" VW" YUNR]" LS[NMK" [ZUM" TSLTNPL" aQM" N`XPNMMN]" cW" SLN" SY" [ZN"

QPTZU[NT[M" UL"SLN"SY" [ZN"NQPRW"VNN[UL^M" UL"]NMU^L"[NQVK"QL]"ZN"PNXNQ[N]"ZUM"aSPPW"

9!C""

YSP"QM"RSL^"QM"ZN"aQM"ULOSRON]"UL"[ZN"XPSdNT[+".M"ZN"aQM"LS["M\PN"aZQ["[ZUM"bUL]"SY"]NMU^L"XPQT[UTN"aS\R]"VNQL"[S"ZUV"QM"Q"XPSYNMMUSLQR"QPTZU[NT["lqaZQ["UM" [ZN"M[SPW"ZNPNormK"ZN"bNX["cPUL^UL^"YSP[Z"[ZN"QMXNT[M"ZN"YS\L]"XQP[UT\RQPRW"\LTRNQP+"2NPNK"[ZN"QT[\QR"VQ[NPUQR"XPS]\TN]"cW"[ZN"NL]"\MNPM"aQM"MNNL"QM"TNL[PQRK"UL"PN^QP]M"[S"ZSa"U["MZS\R]" cN" ZQL]RN]" QL]" ZSa" U[" aS\R]" QYYNT[" [ZN" M\cMNh\NL[" ]NMU^L" aSPb" lqaZQ["MZS\R]"#"]S"LN`[orm+"""7ZNL"M\cdNT[N]"[S"TSLMU]NPQcRN"TZQL^N"NONL[M"UL"QL"SP^QLU_Q[USLQR"TSL[N`[K"aN"

[PW" [S" PN]\TN" [ZN"Nh\UOSTQRU[W"SY" [ZNMN"TZQL^NM"cW" [QRbUL^" [ZNV" UL[S"Q" YSPVQ["aN"TQL"XNPTNUON"QM"VSPN"SP]NPRW"l7NUTb"!A?AK"!AAFK"7NUTb"N["QR+"9EEFm+".M"Q"XQP["SY"S\P"Q[[NVX[M" [S"NLQT["Q"MU[\Q[USLK"aN"cPQTbN[" [ZN"TSL[NL["SY" U[M"NONL[MK" UL"SP]NP" [S"TQ[N^SPU_N" QL]" QP[UT\RQ[N" U[+"7ZNL"aN" cPQTbN[K"aN" cPNQb" [ZN"VQ[[NP" UL[S" TZ\LbMK"U^LSPN" MSVN"SY" U[K" QL]" [PW" [S" cPUL^" YSP[Z" [ZN" XQP[M"aN" YUL]" XQP[UT\RQPRW" UVXSP[QL["l7NUTb"!A?Am+"%ZUM"MVQRR" ULTU]NL["SY"QL"QPTZU[NT[K"aZS"bNNXM" PNXNQ[UL^" [ZN"MQVN"TSLTNPLK" UL" SP]NP" [S" TSVXPNZNL]" [ZN" ]NMU^L" TSL]U[USLM" QL]" [ZN" UVXRUTQ[USLM" U["ULOSRON]" YSP" ZUV" QM" Q" ]NMU^LNPK" VU^Z[" cN" MNNL" QM" QL" N`QVXRN" SY" Q" ]UYYUT\R["NLQT[VNL[" XPSTNMM+" 2N" cPQTbN[N]" QL]" TQ[N^SPU_N]" [ZN" ]NMU^L" TSL]U[USLM" cW"TSL[UL\S\MRW"]UMT\MMUL^" [ZNV"aU[Z"ZUM"TSRRNQ^\NM+"-\["ZUM" ULONM[U^Q[USL" UL[S" [ZNUP"UVXRUTQ[USLM"QRMS"M\^^NM[M"[ZQ["ZUM"\LTNP[QUL[W"PNVQULN]+"2N"]U]LH["M\TTNN]"UL"ZUM"Q[[NVX[M"[S"QP[UT\RQ[N"[ZNMN"TSL]U[USLM"QM"ZNRXY\R"YNQ[\PNM"UL"ZUM"]NMU^L"XPQT[UTN+"#L"[ZUM" aQWK" aN"VU^Z[" MQW" [ZQ[" ZUM" MNLMNVQbUL^" NYYSP[M" LNONP" PNQTZN]" [ZN" RNONR" SY"MNRNT[USLK" UL" aZUTZ" M\TZ" LNa" ]NMU^L" TSL]U[USLM" XSMMUcRW" TS\R]" ZQON" YSPVN]" Q"[NVXRQ[N"SP"Q"VNL[QR"VQX"l7NUTb"!A?Am+"#L"[ZN"TQMN"SY"[ZUM"QPTZU[NT[K"ZUM"PNXNQ[N]"h\NM[USLM"UL]UTQ[N"[ZQ["ZN"TS\R]LH["VQbN"MNLMN"SY"[ZN"PNMXSLMN"ZN"PNTNUON]+"""6[URR" ]aNRRUL^" aU[Z" [ZN" N`XNPUNLTNM" SY" [ZN" YUPM[" YNa" VNN[UL^M" cN[aNNL" [ZN"

VNVcNPM" SY" [ZN" ]NMU^L" [NQVK" [ZN" XPSTNMM" ]NMU^LNPM" Q[[NVX[N]" [S" RUVU[" [ZN"QPTZU[NT[MH" QXXQPNL[" aSPPUNM+" =UPM[K" [ZNW" RN[" [ZN" QPTZU[NT[M" U]NL[UYW" QL]" QP[UT\RQ[N"[ZNMN"TSLTNPLM"UL"[ZN"aQW"[ZNW"YQTURU[Q[N]"[ZN"[NQV"VNN[UL^M+"<W"YUNR]"LS[NM"YPSV"SLN"SY"[ZN"ULU[UQR"VNN[UL^M"PNXSP[1"""!P.<,$"8% 6.&% 1'.1$0.% ,+% -,;$.% +()+"6.",6*% 6""$.",'.% ,.% "#$% 7$$",.-A% G#$%

601#,"$1"+%1'77$."%"#6"%"#$0$%60$%)("%":'%7'."#+%(.",*%"#$%'@@,1,6*%/0'F$1"%/0'/'+6*%="'%"#$%6("#'0,",$+?%,+%&($A%G#$8%/$01$,;$%"#$%&$+,-.%/0'1$++%6+%",-#"9%,.%"#$%+$.+$%"#6"%"#,+%"8/$%'@%&$+,-.%6//0'61#%,+%.$:%"'%"#$7A%=>?%G#$8%/',."%'("%"#6"%%6%)0,$@%'@%0$C(,0$7$."+%"#6"%-,;$+%-$.$06*%0$+"0,1",'.+%"'%"#$%&$+,-.%'@%"#$%)(,*&,.-%,+%(+(6**8%

9!;""

/0';,&$&A%G#$8%7,++%:#6"%"#$8%16**%X"#$%+"'0849%6.&%6+5Q%X:#6"%60$%:$%+(//'+$&%"'%&'%#$0$J42""#L"[ZNMN"h\S[Q[USLM"YPSV"VW"YUNR]"LS[NMK"[ZN"QPTZU[NT[M"[PUN]"[S"QP[UT\RQ[N"ZSa"[ZN"

]NMU^L"TSL]U[USLM"M\cM[QL[UQRRW"]UYYNPN]"YPSV"aZQ["[ZNW"aNPN"\MN]"[S"UL"[PQ]U[USLQR"XPSdNT[M+".R[ZS\^Z"[ZN"TSL]U[USLM"ZQ]"cNNL"]NMTPUcN]"SL"MNONPQR"STTQMUSLM"XPUSP"[S"QL]"QY[NP" [ZN"XPSdNT["ZQ]"cNNL" YSPVQRRW" RQ\LTZN]K" ULU[UQR" TSLONPMQ[USLM" URR\M[PQ[N]"[ZQ[" [ZN"QPTZU[NT[M"bNX["SL"XNPTNUOUL^"[ZNV"QM"\LTRNQP1"!:#6"%60$%:$%+(//'+$&%"'%&'%#$0$J2+"""7NUTb" ]UMT\MMNM" aZQ[" U[" VNQLM" aZNL" aN" QPN" [ZPSaL" UL[S" \LXPN]UT[QcRN"

MU[\Q[USLM"[ZQ["QPN"]UYYUT\R["[S"TSVXPNZNL]"QL]"M\XXSP["aU[Z"QL"Q]Nh\Q[N"YPQVNaSPb"SY"]UPNT[USLM+"7ZQ["MNNVM"[S"ZQON"ZQXXNLN]"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[K" UM" [ZQ["[ZN" ]NMU^L" XPSTNMM" RQTbN]" QL" SR]DYQMZUSL" ^\U]NRULN" [ZQ[" TS\R]" qQLUVQ[N" XNSXRNrK"qXPSOU]N"Q"]UPNT[USLrK"qNLTS\PQ^N"\X]Q[UL^r"QL]"qYQTURU[Q[N"PNMXNT[Y\R"UL[NPQT[USLr"l7NUTb" 9EE91" Am+" %ZN" QPTZU[NT[M" YNR[" RSM[" k" \LQcRN" [S" MNLMN" Q" ]UPNT[USL" QL]" [S"\L]NPM[QL]"ZSa"QT[USL"QL]"XPS^PNMMUSL"TS\R]"cN"bNX["\X"aU[ZUL"[ZN"YPQVNaSPb"SY"[ZN" TSL]U[USLM+" #L" MU[\Q[USLM" SY" TPSMMD]UMTUXRULQPU[WK" PNMXNT[" UM" XQP[UT\RQPRW"UVXSP[QL[K"QM"bLSaRN]^N"UM"SY[NL"V\[\QRRW"UL"MZSP[Q^N+"7ZNL"aN"YNNR"ULMNT\PN"QL]"[ZPNQ[NLN]" UL" \LYQVURUQP" TSL[N`[K" XPNd\]^VNL[M" cN[aNNL" XNSXRN" SY" ]UYYNPNL["ScMNPOQLTN"[NL]"[S"ULTPNQMN"lUcU]+m+""'

TH!!1#(&1-2-%$&3-.(40!5W?57;P5:=*!9:!9==5P?=!=6!@=7CA=C75!

=45!C:G9P;>;97!A6:M;=;6:@!

%ZN"XPSTNMM"]NMU^LNPM"]U]"[PW"[S"XPSOU]N"Q"MNLMN"SY"]UPNT[USLK"UL"SP]NP"[S"M\XXSP["[ZN"XPS^PNMMUSL"SY"[ZN"]NMU^L"XPSTNMM+"#L"SP]NP"[S"PN]\TN"[ZN"QPTZU[NT[HM"QL`UN[WK"Q"XQP[UT\RQP" TSLTNX[" PNYNPPN]" [S" UL" [ZN" XPSdNT[" QM" !G#$% G'8'"6% R'&$*2" lN+^+" =QM["*SVXQLW" <Q^Q_ULN" 9EE9K" <QW" 9EEBmK" aQM" M\^^NM[N]" QM" Q" YPQVNaSPbK" [ZPS\^Z"aZUTZ" ULX\[" YPSV" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" TS\R]" cN" SP^QLU_N]+" %ZN" TSLTNX[" UM"cQMN]"SL"[ZN"[PQ]U[USL"SY"5NQL"4PS]\T[USLK"SPU^ULQRRW"NM[QcRUMZN]"cW"%SWS[Q"UL"[ZN"YUY[UNM"SLaQP]MK"QM"Q"VNQLM"[S"ULTPNQMN"TPNQ[UOU[W"QL]"NYYUTUNLTW"UL"TQP"XPS]\T[USL+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"QXXPSQTZ"aQM"XPNMNL[N]"QM"Q"MTP\[ULU_UL^"ONZUTRN"[ZQ[" QUVN]" [S" ^NLNPQ[N" V\R[UXRN" U]NQM" [S" M\XXSP[" ]NMU^L" ]NONRSXVNL[+" 2NPNK" QRR"bUL]M" SY" ULX\[" aNPN" TSLMU]NPN]" XS[NL[UQRRW" OQR\QcRN" QL]" [Z\M" aSP[Z" N`XRSPUL^+"

9!F""

%ZPS\^Z" [ZUM"XPSTNMMK" [ZN"VQ[NPUQR"XPS]\TN]"aQM" M\XXSMN]" [S"cN" MTP\[ULU_N]K"QL]"[ZN"]NMU^L"MSR\[USL"aS\R]"NVNP^N+"""=UL]UL^"[ZN"]NMU^L"TSL]U[USLM"ZQP]"[S"TSVXPNZNL]"lqaZQ[HM"[ZN"M[SPW"ZNPNr"QL]"

qaZQ[" MZS\R]" #" ]S" LN`[rmK" [ZUM" LS[USL" SY" QL" QT[\QR" TSLTNX[" [S" YQTURU[Q[N" [ZN"LQOU^Q[USL" [ZPS\^Z" M\TZ" \LQYYU`N]" QL]" \LQXXPSQTZQcRN" VQ[NPUQR" aQM" ^PNQ[RW"NVcPQTN]" cW" [ZN" QPTZU[NT[M+" !G#$% G'8'"6% R'&$*2" aQM" [Z\M" [NM[N]" QM" Q" XPSTNMM"YPQVNaSPb"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[K"YSP"Q"XNPUS]"SY"SLN"MUL^RN"]QW+"""(\PUL^"[ZUM"]QWK"[ZN"[NQV"aSPbN]"UL"QL"UL[NPQT[UON"XPSTNMMK"RNQ]"cW"[ZN"XPSTNMM"

]NMU^LNP" aZS" ZQ]" ULU[UQ[N]" [ZN" TSLTNX[+" %ZN" [NQV" \MN]" Q" OQPUN[W" SY" VQ[NPUQR"XPS]\TN]" UL" [ZN" ZU[ZNP[S" XQP[UTUXQ[USL" QT[UOU[UNMK" QM" aNRR" QM" ULMXUPQ[USLQR"XZS[S^PQXZM"QL]"UVQ^NM"YPSV"VQ^Q_ULNM"QL]"cSSbMK"QM"ULMXUPQ[USL+"*SLTPN[N"U]NQM"XPS]\TN]"cW"[ZN"\MNPM"UL"[ZN"aSPbMZSXM"aNPN"VNP^N]"aU[Z"VSPN"QcM[PQT["LS[USLM"[S"YSPV"MXQ[UQR"]UMXSMU[USLM"QL]"RQWS\[M"[ZQ["STT\PPN]"UL"[ZN"TSLONPMQ[USL"cN[aNNL"[ZN"[NQV"VNVcNPM+"2NPNK"[ZN"cQRQLTN"cN[aNNL"TSLTPN[N"UVQ^NM"QL]"QcM[PQT["LS[USLM"k"QL]" ZSa" MSVN[ZUL^" LNa" TS\R]" STT\P" UL" [ZN" UL[NPUV" cN[aNNL" [ZN" [aS" k" aQM"]UMT\MMN]"QL]"]NcQ[N]"cW"[ZN"VNVcNPM"SY"[ZN"[NQV+".R[ZS\^Z"cNUL^"LSOUTNM"[S"[ZUM"[WXN" SY" YPQVNaSPb" QL]" LS[" bLSaUL^"aZNPN" U["VU^Z[" [QbN" [ZNVK" [ZN" [NQV" [QRbN]K"MbN[TZN]K"cPQTbN[N]K" RQcNRN]"QL]"TQ[N^SPU_N]K" UL"SP]NP" [S"ULYSPV"QL]"Q]]"SL[S"[ZN"TSL]U[USLM"SY"[ZN"]NMU^L"XPSTNMM"[ZNW"ZQ]"d\M["NL[NPN]+"""-\[" QRPNQ]W" [ZN" LN`[" ]QWK" [ZUM" TSLTNX[\QR" U]NQ" SY" QRRSaUL^" V\R[UXRN" U]NQM" [S"

NVNP^N" QM" Q" XQP[" SY" [ZN" ]NMU^L" QXXPSQTZK" aQM" QcQL]SLN]+" $S[" QM" Q" TSLMTUS\M"]NTUMUSL+" #[" PQ[ZNP" TNQMN]" QM" Q" TSLMNh\NLTN" SY" MSVN" SY" [ZN" XPSdNT[HM" XPQT[UTQR"TSL]U[USLM" [ZQ[" aNPN" cPS\^Z[" YSP[Z" cW" XPSdNT[" VQLQ^NPK" UL" Q" VNN[UL^" SL" [ZN"VSPLUL^"d\M["QY[NP"!G#$%G'8'"6%R'&$*2"N`XNPUVNL[+"#L"[ZUM"VNN[UL^K"QMXNT[M"M\TZ"QM"[UVNYPQVNK"]NQ]RULNMK"c\]^N[K"QL]"XS[NL[UQR"N`[NPLQR"TSRRQcSPQ[USL"XQP[LNPM"aNPN"PNXNQ[N]"[S"[ZN"]NMU^L"[NQV1"ULYSPVQ[USL"[ZQ["UL"Q"[PQ]U[USLQR"c\UR]UL^"XPSdNT["aS\R]"cN" MNNL" QM" Q" TNL[PQR" XQP[" SY" [ZN" cPUNY" SY" PNh\UPNVNL[+" -\[" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[K"UL"aZUTZ"!G#$%U''5%'@%"#$%\'(+$2"k"[ZN"NVNP^UL^"cPUNY"k"MNPON]"QM"Q"XSUL["SY"]NXQP[\PN"QM"QL"NVX[W"TSL[QULNP"[ZQ["aQM"aQU[UL^"[S"cN"YURRN]K"[ZNMN"YNQ[\PNM"aNPN"LS["QP[UT\RQ[N]"QM"cPUNYDVQ[NPUQR+""""%!G#$%G'8'"6%R'&$*2"N`XNPUVNL["VU^Z["cN"MNNL"QM"SLN"S\["SY"MNONPQR"NYYSP[M"[S"

VQbN" MNLMN" SY" [ZN" XPSdNT[HM" \LYQVURUQP" ]NMU^L" TSL]U[USLM+" 2NPNK" [ZN" XPSTNMM"

9!B""

]NMU^LNPM"QUVN]"[S"XPSOU]N"Q"YPQVNaSPb"[S"M\XXSP["Q"LNa"[WXN"SY"]NMU^L"XPQT[UTN"k"QM" QL" QLMaNP" [S" [ZN" QPTZU[NT[MH" QL`UN[W" SY" LS[" ZQOUL^" SLN+" %ZN" Q[[NVX[HM" QRVSM["UVVN]UQ[N"cPNQb]SaL"MNNVM" [S"ZSR]"Q"TNP[QUL"]URNVVQ+".M"aN"ZQON"MNNL"QcSONK"[ZN"QPTZU[NT[M"aNPN"TSLY\MN]"QcS\["[ZN"TSL]U[USLMK"\XSL"aZUTZ"[ZN"]NMU^L"XPSTNMM"aQM"cQMN]+"7U[ZS\["[ZN"cPUNY"SY"PNh\UPNVNL[M"SP"QLS[ZNP"YUPV"M[P\T[\PQR"YPQVNaSPb"[S"^\U]N" [ZN"]NMU^L"XPSTNMMK" [ZNW"YNR[" RSM[" l!:#6"%60$%:$%+(//'+$&% "'%&'%#$0$J2m"QL]" LS[" QcRN" [S" QLMaNP" [ZN" [aS" cQMUT" h\NM[USLM" ULOSRON]" UL" XPSTNMMNM" SY"MNLMNVQbUL^"lqaZQ[HM"[ZN"M[SPW"ZNPNor"QL]"qaZQ["MZS\R]"#"]S"LN`[orm+"2NPNK"!G#$%G'8'"6% R'&$*2" PNXPNMNL[N]" Q" XS[NL[UQR" QLMaNP" [S" [ZNMN" TSLTNPLMK" QL]" [ZN" [NQV"MZSaN]" MU^LM" SY" UL[NPNM[" [ZPS\^ZS\[" [ZN" ]QW" aZNL" [ZN" VS]NR" aQM" UL" \MN+" #["PNXPNMNL[N]"M[P\T[\PN"QL]"YUPVLNMM1"Q"TSLTNX["[S"SP^QLU_N"[ZN"TSVXS\L]"ULX\["YPSV"[ZN" NL]" \MNPMK" UL" SP]NP" YSP" U[" [S" ULYSPV" [ZN" M\cMNh\NL[" ]NMU^L" ]NONRSXVNL[+" #L"Q]]U[USLK" !G#$% G'8'"6% R'&$*2" PNXPNMNL[N]" !"#$% /0'1$++% /$0+/$1",;$2" QL]" U[M"QXXPSQTZ" [S" [ZN"]NMU^L"XPSTNMM" QM"SLN" [ZQ[" TS\R]" NLTSVXQMM"V\TZ"cPSQ]NP" ULX\["QL]" [ZNPNcW"V\R[UXRN" ]NMU^L" SXXSP[\LU[UNM+" .R[ZS\^Z" QPTZU[NT[M" QPN" YQVURUQP" aU[Z"TSVXRN`" XPSdNT[" S\[RULNM" QL]" TPSMMD]UMTUXRULQPW" TSRRQcSPQ[USL" [ZPS\^Z" [ZNUP" TRSMN"TSRRQcSPQ[USL" aU[Z" YSP" N`QVXRN" NL^ULNNPMK" [ZNW" bNX[" cNUL^" aQPW" SY" [ZN" XPSTNMM"]NMU^LNPHM" SXNL" QXXPSQTZ+" .^QULK" aN" VU^Z[" MQW" [ZQ[" [ZUM" \LYQVURUQP" VN[ZS]" SY"OSR\VN"QL]"]UYYNPNL[UQ[USL"LNONP"PNQTZN]"MNRNT[USL"UL"[ZN"QPTZU[NT[MH"MNLMNVQbUL^"XPSTNMM+"""

]H!&45!a9R@5:=^!R7;5G!6G!75VC;75P5:=!

!G#$%G'8'"6%R'&$*2"TNQMN]"aZNL"YQT[SPM"[ZQ["PNXPNMNL[N]"[ZN"[PQ]U[USLQR"cPUNY"SY"PNh\UPNVNL[MK"TPSXXN]"\X"SL"[ZN"MTNLN+"7ZNL"[ZN"QPTZU[NT[M"aNPN"VN["aU[Z"[ZN"XPSdNT[HM" [S\^Z" ]NQ]RULNM" QL]" YULQLTUQR" PNQRU[WK" [ZNW" PN[\PLN]" [S" [ZN" TRQMMUTQR"QPTZU[NT[\PQR"]NMU^L"XPQT[UTNK"QM" [ZNW"bLNa" U[+".R[ZS\^Z" [ZN" YPQVNaSPb" U[MNRY"aQM"PNQMSLQcRW"aNRR" PNTNUON]" lUL" ZUL]MU^Z[" TSLMU]NPN]" QM" SLN" SY" [ZN"VSPN" XPSVUMUL^"ULU[UQ[UONMK" cW" SLN" SY" [ZN" QPTZU[NT[MmK" [ZN" QXXPSQTZ" cPSbN" ]SaL"aZNL" TSLYPSL[N]"aU[Z"QMXNT[M"YPSV"[ZN"[PQ]U[USLQR"cPUNY+"""!3%&'.4"%:6."%"'%-$"%6.87'0$%+#65$.%(/2K"SLN"SY"[ZN"QPTZU[NT[M"XSUL[N]"S\["[ZN"

VSPLUL^" QY[NP"!G#$% G'8'"6%R'&$*2" N`XNPUVNL[K" UL" [ZN"VNN[UL^"aU[Z" [ZN" XPSdNT["VQLQ^NP+" "&NQRU_UL^" [ZN"XPSdNT[HM" YQT[\QR"TSL]U[USLM"SY"]NQ]RULNM"QL]"PNM[PUT[USLMK"ZN" aU[Z]PNa" YPSV" [ZN" \LbLSaLK" PN[\PLUL^" [S" [ZN" bLSaL+" 2NPNK" [ZN" !+#65$2"

9!?""

PNYNPPN]" [S" ZUM" N`XNPUNLTN" SY" [ZN" TSL[UL\S\M" N`XQLMUSL" SY" U]NQM" QL]" OSR\VN" [ZQ["]NONRSXN]K"UL"[ZN"TS\PMN"SY"aSPbUL^"SLN"]QW"aU[Z"!G#$%G'8'"6%R'&$*2+"""'L" [ZN" MQVN" STTQMUSLK" QLS[ZNP" QPTZU[NT[" QMbN]" YSP"!+'7$% /$61$% 6.&% C(,$"% "'%

61"(6**8% -$"% 60'(.&% "'% &',.-% +'7$% &$+,-.,.-2+" 6S" aZNL" [ZN" LNa" QXXPSQTZ" aQM"^UONL"Q"TSLTPN[N"YSPVQ["[ZPS\^Z"!G#$%G'8'"6%R'&$*2"QL]"[ZN"XPS]\T[USL"SY"!G#$%U''5%'@% "#$%\'(+$2" UL" YQT["cN^QL" [S"NVNP^NK" [ZN"SR]"QXXPSQTZ"PNQXXNQPN]"SL" [ZN"MTNLN" [ZPS\^Z" [ZN" XPSdNT[HM" YQT[\QR" TSL]U[USLM+" %ZN" cPUNY" SY" PNh\UPNVNL[M" k" SP" Q["RNQM[" QMXNT[M" SY" U[" k" aNPN" [ZNPN" QRR" [ZN" [UVNK" UL" ]UM^\UMN+" -W" YPQVUL^" [ZN" ]NMU^L"XPSTNMM"QM"SLNK"UL"aZUTZ"[ZN"cPUNY"aQM"cNUL^"]NONRSXN]"UL"[ZN"TS\PMN"SY"]NMU^LUL^K"[ZN"QRPNQ]W"N`UM[UL^"QMXNT[M"SY"[ZN"cPUNY"cNTQVN"ULOUMUcRN+"$S["QM"M\TZK"c\["QM"Q"XQP["SY" YUPV" YPQVNaSPb" SY" XPNTSL]U[USLM+" -NUL^" XPNMNL[N]" QM" QcMNL[K" QM" Q" XQP[" SY" [ZN"XPSdNT[HM"TSLTNX[\QR"S\[RULNK"[ZN"cPUNY"aQM"QRMS"XNPTNUON]"QM"M\TZ"cW"[ZN"QPTZU[NT[M"k" h\U[N" RU[NPQRRW+" #L" [ZUM"aQW"aN"VU^Z[" MQW" [ZQ[" [ZN" LS[USL" SY" [ZN" QcMNL[" cPUNY" SY"PNh\UPNVNL[M"TQVN"[S"PNXPNMNL["[ZN"NXU[SVN"SY"[ZN"LNa"QXXPSQTZK"Q"TSL]U[USL"[ZQ["aQM" XNPTNUON]" QM" MSVNaZQ[" \LVQLQ^NQcRN"cW" [ZN" QPTZU[NT[M+"$S[" cNTQ\MN" SY" [ZN"TSL]U[USL"U[MNRYK"c\["cNTQ\MN"SY"[ZN"aQW"U["aQM"UL[PS]\TN]"UL"[ZUM"XQP[UT\RQP"XPSdNT[+"#LM[NQ]"SY"XPSOU]UL^"Q"]NMU^L"SXXSP[\LU[WK" [ZUM"VN[ZS]SRS^UTQR"QXXPSQTZ"TQVN" [S"PNXPNMNL[" Q" PNM[PUT[USL" [ZQ["aQM"\LYQVURUQP" [S" [ZN"QPTZU[NT[M1" [ZQ["SY" QcMNLTN+"%ZUM"XQP[UT\RQP"XNPTNX[USL"aQM"LS["XPS]\TN]"cW"[ZN"VN[ZS]"U[MNRY"QL]"U[M"QT[\QR"TSL[NL["l[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZNUP"S\[TSVNmK"c\["PQ[ZNP"cW"[ZN"UL[NPXPN[Q[USLM"U["aQM"VQ]N"M\cdNT["[S"cW"[ZN"QPTZU[NT[MK"aZS"aNPN"M\cdNT[N]"[S"U[+"""7ZN[ZNP" SP^QLU_N]" XQP[UTUXQ[USL" QM" Q" VN[ZS]" TQL" aSPb" UL" [ZN" TSL[N`[" SY"

]NMU^LUL^"QPTZU[NT[\PN"VU^Z["[Z\M"cN"MQU]"[S"ZQON"QM"V\TZ"[S"]S"aU[Z"[ZN"aQW"U["UM"YPQVN]"[ZQL"aU[Z"U[M"QT[\QR"TSL[NL[+"#["UM"PQ[ZNP"[ZN"XNPMXNT[UONK"[ZPS\^Z"aZUTZ"aN"RSSb"Q["Q"XZNLSVNLSLK"aZUTZ"YSPVM"U[M"TSL[NL[K"[ZQL"U["UM"[ZN"QT[\QR"TSL[NL["[ZQ["[ZN"XZNLSVNLSL" ZSR]M+" 7N" TZSSMN" [ZN" TSLM[PQUL[M" aN" QPN" VQ]N" M\cdNT[" [SK" cN" U[" Q"VN[ZS]SRS^UTQR" YPQVNaSPb" lYSP" [ZN" QPTZU[NT[M" UL" [ZN" ]NMU^L" [NQVm" SP" Q" ]NMU^L"MSR\[USL"lYSP"[ZN"XQP[UTUXQL[M"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMm"l7NUTb"!AAFm+""q#Y"TZQL^N" UM" [SS"TSL[UL\S\MK" U["cNTSVNM"]UYYUT\R[" YSP"QLW"SLN"XNPMSL" [S"VQbN"

MNLMN"SY"aZQ["UM"ZQXXNLUL^"QL]"[S"QL[UTUXQ[N"aZQ["aURR"ZQXXNL"(.*$++"[ZQ["XNPMSL"UM"QcRN"[S"YPNN_NK"cPNQb"\XK"SP"PNTWTRN"XSP[USLM"SY"[ZUM"YRSar"l7NUTb"!A?A1"!!?m+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"LSLN"SY"[ZN"VNVcNPM"SY"]NMU^L"[NQV"MNNVN]"[S"cN"QcRN"[S"ZQL]RN" QL]ISP" PNMXSL]" [S" [ZUM" TSVXRN`" XPSTNMM" [ZQ[" NVNP^N]" YPSV" [ZN" XPSdNT[HM"

9!,""

\LYQVURUQP" TSL]U[USLM+" %ZN" ^NLNPQR" YNQ[\PNM" [ZQ[" TZQPQT[NPU_N" XPSTNMMNM" SY"SP^QLU_Q[USLQR" MNLMNVQbUL^K" UL" aZUTZ" XNSXRN" QUV" [S" YUL]K" QP[UT\RQ[N" QL]" PNXNQ["TSVXSLNL[M" [ZQ[" TS\R]"ZNRX" [ZNV" [S" TSVXPNZNL]" [ZN" TZQL^N" NONL[M" Q[" M[QbNK" ]U]"LS[" MNNV" [S" cN" XPNMNL[+" %ZNW" NLQT[N]" [ZNUP" ]UYYNPNL[" XNPTNX[USLM" [ZPS\^Z" [ZNUP"NL^Q^NVNL["QL]" UL[NPXPN[Q[USLK"c\["QM"aN"ZQON"MNNL" UL" [ZN"N`QVXRNM"QcSONK" [ZNUP"MNLMNVQbUL^" NYYSP[M" ^NLNPQRRW" ]U]LH["VQbN" U[" [S" MNRNT[USL+" %ZN" XPSTNMM" ]NMU^LNPM"QUVN]" [S" UL[PS]\TN" Q" LNa" QXXPSQTZ" [S" ]NMU^LUL^" QL]" [Z\M" [S" N`XQL]" [ZN" MTSXNK"YPSV" aZUTZ" U]NQM" TS\R]" NVNP^N" QL]" ]NMU^L" SXXSP[\LU[UNM" TS\R]" QXXNQP+" -\[" [ZN"Q]OQL[Q^NM" [ZQ[" [ZN" QXXPSQTZ" VU^Z[" ZQON" ZNR]" YQURN]" [ZN" [NM[" aZNL" [ZNW" aNPN"TSLYPSL[N]"aU[Z"aNRRDbLSaL"TSL]U[USLM"YPSV"[ZN"[PQ]U[USLQR"cPUNY"SY"PNh\UPNVNL[M+"%ZN"TSL]U[USLM"aNPNK"UL"]UYYNPNL["aQWMK"LNa"[S"QRR"XQP[UNMK"aZUTZ"VQ]N"U["]UYYUT\R["YSP" QLW" SY" [ZNV" [S" TSVXRW" aU[Z" [ZN" SXXSP[\LU[UNM" [ZQ[" [ZN" XPSTNMM" XS[NL[UQRRW"]UMTRSMN]+"""#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"XPSTNMM"]NMU^LNPM"qMXSbN"]UYYNPNL[RWr"l7NUTb"

9EEB1"!?9;m"QcS\["[ZN"]NMU^L"XPSTNMM"QL]"UL[PS]\TN]"Q"MNPUNM"SY"\LYQVURUQP"NONL[MK"UL"SP]NP"[S"M\XXSP["[ZN"NVNP^NLTN"SY"Q"]NMU^L"MSR\[USL+""2NPNK"U["aQM"UL]UTQ[N]"[ZQ["[ZN"LNa"YNQ[\PNM"ULOSRON]KK"YSP"N`QVXRN"PNXPNMNL[N]"cW"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"aS\R]" XPSOU]N" [ZN" ]NMU^L" XPSTNMM" aU[Z" N`[NL]N]" SXXSP[\LU[UNM+" $S[" SLRW" QM" Q"VNQLM" [S" ^NLNPQ[N" U]NQM" [S" NLZQLTN" [ZN" ]NONRSXVNL[" SY" [ZN" ]NMU^L" MSR\[USLK" c\["QRMS" UL" SP]NP" [S" MNT\PN" Q" TRSMNP" TSL[QT[" cN[aNNL" [ZN" TRUNL[" SP^QLU_Q[USL" QL]" [ZN"]NMU^L"[NQV+"-\["Q"V\[\QR"OSTQc\RQPW"aQM"LNONP"NM[QcRUMZN]"cN[aNNL"[ZN"QPTZU[NT[M"QL]" [ZN"XPSTNMM"]NMU^LNPMK" QL]" [ZN" TSRRQcSPQ[USLQR" Q[[NVX[M" QM"aNRR" QM" [ZN"]NMU^L"XPSTNMM"U[MNRYK"[Z\M"bNX["U[M"]UMTSL[UL\U[W+"'

$2%&!("44<,+4!+'3+#*(6&!2*33%#0%&&

#L"[ZN"XQPQ^PQXZM"QcSONK"#"ZQON"URR\M[PQ[N]"QL]"]UMT\MMN]"Q"YNa"SY"[ZN"TZQRRNL^NM"[ZQ["[ZN"VNVcNPM"SY"[ZN"]NMU^L"[NQV"N`XNPUNLTN]"UL"[ZNUP"Q[[NVX[M"Q["TSRRQcSPQ[USL+"2NPNK" [ZN" XPSTNMM" ]NMU^LNPM" QUVN]" [S" XPSOU]N" LNa" SXXSP[\LU[UNM" [S" M\XXSP[" [ZN"QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" cW" UL[PS]\TUL^" LNa" [WXNM" SY" ULX\[" [S" ULYSPV" [ZN"]NONRSXVNL["SY"Q"]NMU^L"MSR\[USL+"-\["[ZN"XPSTNMM"]NMU^LNPM"]U]LH["MNNV"[S"M\TTNN]"UL" [ZNUP" NYYSP[M" [S" TSVV\LUTQ[N" [ZN" XS[NL[UQR" SXXSP[\LU[UNM" Q[[QTZN]" [S" [ZN" LNa"

9!A""

QXXPSQTZK"[S"[ZN"QPTZU[NT[M+"#L"[ZN"YSRRSaUL^K"#"QUV"[S"]UMT\MM"[ZN"TSVV\LUTQ[USLQR"]UMTSL[UL\U[UNM"[ZQ["[ZN"]NMU^L"[NQV"aQM"TSLYPSL[N]"aU[ZK"\MUL^"Q"YNa"SY"[ZN"U]NQM"[ZQ[" TSLM[U[\[N" [ZN" TSLTNX[" SY" [ZN" qXSRWXZSLUT" SP^QLU_Q[USLr" lN+^+" 2Q_NL" !AACK"/SPLcNP^NP"N["QR+"9EEBK"6ZS[[NP"9EE,K"-NRSOQ"N["QR+"9EE,K"-SP\V"QL]"&NYY"4N]NPMNL"9EE,m+''

)H!%6>Q?46:;A!M5@;8:!A6:M;=;6:@*!@CR@=9:=;9>!M;GG575:A5@!;:!

>9:8C985!9:M!P5=46M!!

%ZN" N[WVSRS^UTQR" SPU^UL" SY" qXSRWXZSLWr" UM" 0PNNb+" #[" VNQLM" qV\R[UXRUTU[W" SY"MS\L]M" SP" OSUTNMr" l'`YSP]" 3L^RUMZ" SLRULN" ]UT[USLQPWm" QL]" UM" SY[NL" PNYNPPN]" [S" UL"TSL[N`[M" [ZQ[" PN^QP]" V\MUT+" #L" SP^QLU_Q[USLQR" M[\]UNMK" ZSaNONPK" [ZN" TSLTNX["PNXPNMNL[M"[ZN"U]NQ"[ZQ["UL"SP^QLU_Q[USLQR"RUYN"QL]"UL"SP^QLU_UL^K"MNONPQR"OSUTNM"QPN"LNTNMMQPURW"ULOSRON]"UL"[ZN"MN[\X+"2NPNK"Q"TNL[PQR"XSUL["UM"[ZQ["LSLN"SY"[ZNMN"OSUTNM"ZQON"XPNTN]NLTN"l-SP\V"QL]"&NYY"4N]NPMNL"9EE,m+"#["UM"PQ[ZNP"[ZN"PNRQ[USL"cN[aNNL"[ZNV" QL]" [ZN" LQPPQ[UONM" [ZNW" YSPV" [ZQ[" UM" UL" YST\M+" %aS" VQUL" M[PQL]M" MNNV" [S"PNXPNMNL["[ZN"XSRWXZSLUT"SP^QLU_Q[USL"QM"Q"TSLTNX[\QR"QXXPSQTZK"cS[Z"SY"aZUTZ"QPN"UL"MSVN"aQW"ULMXUPN]"cW"[ZN"aSPb"SY" RU[NPQPW"TPU[UT"QL]"MNVUS[UT"<UbZQUR"-QbZ[UL"l-NRSOQ"N[" QR+"9EE,m+"%ZN" YUPM[" Q[[NL]M" [S"ZSa"]UYYNPNL["OSUTNM" PNXPNMNL["]UYYNPNL["XSMU[USLM"SY" Q\[ZSPMZUXK" QL]" [S" [ZN"aQW" [ZQ["VNQLUL^M" QPN" TSLM[P\T[N]" YPSV"M\TZ"]UYYNPNL["OUNaXSUL[M"UL"SP^QLU_Q[USLQR"TSL[N`[M+"%ZN"MNTSL]"M[PQL]"PQ[ZNP"RSSbM"UL[S"[ZN" QT[\QR" NLTS\L[NP" cN[aNNL" [ZNMN" ]UYYNPNL[" OUNaXSUL[M+" #L" [ZUM" QXXPSQTZK"SP^QLU_Q[USLQR" XPQT[UTN" UM" XNPTNUON]" QM" qTSVXRN`"aNcM" SY" MNLMNVQbUL^" QT[UOU[UNM"cN[aNNL"^PS\XM"QL]"UL]UOU]\QRM"aZSMN"\L]NPM[QL]UL^"]S"LS["MUVXRW"YSPV"Q"RS^UTQR"MNh\NLTN" c\[" UL[NPMNT[K" TRQMZ" QL]" UL[NPYNPN"aU[Z" NQTZ" S[ZNPr" l-NRSOQ" N[" QR+" 9EE,1";AF"aU[Z"PNYNPNLTN"[S"2Q_NL"!AACm+"""7ZNL"#"M\^^NM[" [ZN"TSLTNX["ZNPNK"VW"QMXUPQ[USL" UM"LS[" [S"\MN" U["QM"Q"VNQLM" [S"

]UMT\MM"ZSa"[ZN"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["cN"MQU]"[S"XPS]\TN"Q"TSVXS\L]"ULX\["[ZQ["PNXPNMNL[M"Q"V\R[U[\]N"SY"OSUTNM+"7U[Z"PNYNPNLTN"[S"[ZN"UMM\N"UL"YST\M"UL"[ZUM"MNT[USLK"[ZN"TSLTNX["UM"PQ[ZNP"QXXRUN]"QM"Q"VNQLM"[S"\L]NPM[QL]"[ZN"TSRRQcSPQ[USLQR"Q[[NVX[M" [ZQ[" [SSb"XRQTN"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"UL" [ZN" ]NMU^L" [NQV+" #L" aZQ[" aQW" ]U]" [ZNUP" QXXPSQTZNM" [S" [ZN" ]NMU^L" XPSTNMM"M\cM[QL[UQRRW"]UYYNPo"%ZNMN"[aS"^PS\XM"VU^Z["LS["cN"MQU]"[S"PNXPNMNL["Q"V\R[U[\]N"SY"OSUTNMK"c\[" [ZNW"]U]" PNXPNMNL[" MSVN"OSUTNM"k"QL]" [ZNUP"TSRRQcSPQ[USLQR"NYYSP[M"]U]"

99E""

UL]NN]"MNNV"[S"qUL[NPMNT[K"TRQMZ"QL]"UL[NPYNPN"aU[Z"NQTZ"S[ZNPr"l-NRSOQ"N["QR+"9EE,1";AFm+".M"VNL[USLN]"UL"[ZN"XPNOUS\M"MNT[USLK"[ZN"^PS\X"SY"XPSTNMM"]NMU^LNPM"]U]"LS["SLRW" TS\L[" QL" QL[ZPSXSRS^UM[+" .RMSK" Q" [PQULN]" QPTZU[NT[" aQM" SL" [ZN" [NQVK" QL]" Q"XZWMUTUM[" aU[Z" Q" cQTb^PS\L]" UL" \MNP" ULLSOQ[USL+" .RPNQ]W" aU[ZUL" [ZN" ^PS\X" SY"XPSTNMM" ]NMU^LNPMK" MNONPQR" OSUTNM" QPN" [Z\M" NM[QcRUMZN]!?+" 7U[Z" XPSYNMMUSLQR"QPTZU[NT[M" QL]" QRMS" Q" TSLM[P\T[USL" QPTZU[NT[" SL" cSQP]" UL" [ZN" [NQVK" [ZN" Q[[NVX[M" Q["TSVXPNZNLMUSL"QL]"TSRRQcSPQ[USL"VU^Z["cN"MQU]" [S"ZQON"^SLN"QTPSMM"XPSYNMMUSLQRK"RUL^\UM[UT"QL]"VN[ZS]SRS^UTQR"cSP]NPM+""

OH!$@?;79=;6:@!R9@5M!6:!?6>Q?46:Q*!5W?>67;:8!=45!:6=;6:!6G!

A76@@ZM;@A;?>;:97Q!A6>>9R679=;6:!

/SPLcNP^NP"N["QR+"]UMT\MM"M\TZ"XSRWXZSLUT"TSL]U[USLM"QM"QL"N`QVXRN"SY"[ZN"LNa"[WXNM"SY"TSRRQcSPQ[USLM"aN"ULTPNQMUL^RW"MNN"UL"SP^QLU_Q[USLM"[S]QWK"QL]"NVXZQMU_N"[ZN"XQP[UT\RQP" MNLMNVQbUL^" TZQRRNL^N" [ZNMN" QYYURUQ[USLM" ULOSRON" 1" qs'tP^QLU_Q[USLM"LNN]"[S" [PQLMRQ[N" UL[NPLQRRW"QM"aNRR"QM"N`[NPLQRRW" UL"SP]NP" [S"VQbN"MNLMN"SY"VNMMW"XSRWXZSLUT" MU[\Q[USLM+" $N[aSPbMK" QRRUQLTNMK" QL]" XPSdNT[" SP^QLU_Q[USLM" l*QM[NRRMK"!AABg"3cNPMK"!AA?g"JQPURRSK"!AACmK"YSP"ULM[QLTNK"TQL"cN"MNNL"s[S"cN"M[P\^^RUL^t"aU[Z"XSRWXZSLUT" PNQRU[UNM+" #L" [ZNUP" TSRRQcSPQ[USLK" [ZNW" ]UYYNP" UL" [NPVM" SY" [ZN" RQL^\Q^N"[ZNW"\MNK" [ZN"SP]NP"[ZNW"UVXSMNK" [ZN"PQ[USLQRU[W"[ZNW"NVXRSWK"QL]"[ZN"UL[NPPNRQ[USL"[ZNW"VQUL[QUL"UL[NPLQRRW+"%Z\MK"Q"XSRWXZSLUT"TSLTNX[USL"SY"SP^QLU_Q[USLM"LS["SLRW"XPScRNVQ[U_NM" PNRQ[USLM" cN[aNNL" SP^QLU_Q[USLM" c\[" QRMS" PNRQ[USLM" aU[ZUL"SP^QLU_Q[USLMr" l/SPLcNP^NP"N["QR+"9EEB1"?D,m+"%ZNW"\MN" [ZN"VW[Z"SY" [ZN"%SaNP"SY"-QcNR" QM" Q"VNQLM" [S"]UMT\MM" RUL^\UM[UT" TZQRRNL^NM" UL"SP^QLU_Q[USLM"QL]" [S"]UMT\MM"ZSa"VSPN"[ZQL"SLN"]SVULQL["OSUTN"UL"QL"SP^QLU_Q[USLQR"TSL[N`["VU^Z["cN"XSMMUcRN+"""7ZNL".PbU[NVQ"M[PUON]"[S"\[URU_N"Q"XS[NL[UQR"OQTQLTW"UL"[ZN"VQPbN["YSP"c\UR]UL^"

]NMU^L"l.ccS[["!A,?m"cW"Q[[NVX[UL^"[S"UL[N^PQ[N"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"Q" XQP[" SY" [ZN" YUPVHM" XPSYNMMUSLQR" XPS]\T[K" [ZNW" aNL[" cNWSL]" [ZNUP" [PQ]U[USLQR"TSVXN[NLTW"QM"XPSYNMMUSLQR"QPTZU[NT[M+"%S"TSVXRW"aU[Z"[ZN"RQTb"SY"N`XNPUNLTN"[ZQ["M\TZ"QL"N`[NLMUSL"LNTNMMQPURW"ULTR\]N]K"[ZNW"NM[QcRUMZN]"[ZN"]NXQP[VNL["SY"XPSTNMM"]NMU^L"QL]"ZUPN]"M[QYY"aU[Z"Q"cQTb^PS\L]"UL"N[ZLS^PQXZUT"QXXPSQTZNM+"#L"[ZN"TS\PMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"LNaRW"NM[QcRUMZN]"^PS\X"SY"XPSTNMM"]NMU^LNPM"aQM"

"""""""""""""""""""""""""""""""""""""""""""!?" 2NPNK" nQ" OSUTNH" PNYNPM" ]UM[ULT[RW" [S" Q" XPSYNMMUSLQR" ^PS\X" SP" Q" [PQ]NK" LS[" [S" S[ZNP" TQ[N^SPUNMK" M\TZ" QM"^NL]NPK"Q^NK"N[T++"

99!""

VNP^N]"aU[Z" Q" ^PS\X" SY" XPSYNMMUSLQR" QPTZU[NT[MK" UL" SP]NP" [S" YSPV" Q" LNa" [WXN" SY"]NMU^L" [NQV+" .M" ZQM" cNNL" URR\M[PQ[N]" QcSONK" [ZN" NLTS\L[NP" aQM" TZQPQT[NPU_N]" cW"TSLY\MUSL"l[ZN"QPTZU[NT[MmK"VQP^ULQRU_Q[USL"l[ZN"XPSTNMM"]NMU^LNPMmK"QL]"YP\M[PQ[USL"lcS[Zm+"""-\[" QM" /SPLcNP^NP" N[" QR+" XSUL[" S\[K" [ZN" ]UONPMU[W" [ZQ[" XPSYNMMUSLQR" TPSMMSONPM"

ULOSRON" TQL" QRMS" PNXPNMNL[" XS[NL[UQR1" q'P^QLU_Q[USLQRRWK" ULLSOQ[USL" MXPUL^M" YPSV"]UMTS\PMN" UL[S" N`UM[NLTN" cW" UVQ^ULUL^"VNQLUL^" ZU[ZNP[S" \LTSLMU]NPN]+" 5QL^\Q^N"cS[Z"]N[NT[M"QL]"TSLM[U[\[NM"bLSaRN]^N"XSMMUcURU[UNM"[ZQ["PNQRRW"VQbN"Q"]UYYNPNLTNr"l/SPLcNP^NP"N["QR+"9EEB1"!Fm!,+"%ZN"N`XRSPQ[USL"SY"M\TZ"UL[NPMNT[UL^"XS[NL[UQR"QRMS"YSPVN]" Q" XSUL[" SY" ]NXQP[\PN" UL" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" [ZPS\^Z" [ZN" YUPVHM"QP[UT\RQ[N]" QVcU[USLM" YSP" Y\[\PN" XPQT[UTN+" 2NPNK" QL" QMXUPQ[USL" RUbN" !10'++N&,+1,/*,.60,"82" UM" TSLMU]NPN]" Q" TNL[PQR" ^SQR+" -\[" QR[ZS\^Z" [ZN" NVXUPUTQR" VQ[NPUQR"MZSaM" [ZQ["TPSMMD]UMTUXRULQPW"QXXPSQTZNM" [S" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"MNNV"[S"ZQON"aSPbN]"SL"Q" MVQRRNP" MTQRN" UL" M\cMNh\NL["XPSdNT[M" UL".PbU[NVQ" lULTR\]UL^"XPSTNMMNM" SY" SP^QLU_N]" NL]"\MNP" XQP[UTUXQ[USLmK" U[" ZQ]" Q" ZQP]" [UVN" NM[QcRUMZUL^" UL"[ZUM" XPSdNT[+" 2NPNK" [ZN" XPSdNT[" S\[RULN" XPSXSMN]" Q" TSRRQcSPQ[USLQR" N`XNPUVNL["cN[aNNL"[aS"^PS\XM"aU[Z"M\cM[QL[UQRRW"]UYYNPNL["QXXPSQTZNM"[S"]NMU^L"XPQT[UTN+"-W"YST\MUL^"SL" N`XQLMUSLg" OSR\VN"QL]"]UONPMU[WK" [ZN"XPSTNMM"]NMU^LNPM" Q[[NVX[N]" [S"\LYSR]"[ZN"XS[NL[UQR"SY"TPSMMD]UMTUXRULQPU[W+"7U[Z"VSPN"[S"TZSSMN"YPSVK"TSLTNX[\QR"U]NQM" QL]" YNQ[\PNM" TQL" cN" TSVcULN]" UL" ]UYYNPNL[" aQWMK" QL]" QL" N`[NL]N]" YUNR]" SY"XSMMUcRN"]NMU^L"MSR\[USLMK"TQL"NVNP^N+"-\[" [ZNPN" UM"Q" PNQMSL" [ZQ["-QcNR"LNONP"^S["c\UR[+" q#Y" XNSXRN" TQLLS[" TSVV\LUTQ[N" NYYNT[UONRW" aU[Z" NQTZ" S[ZNPK" [ZNL" [ZNPN" UM"VSPN"TZQLTN"[ZQ["[ZNW"aURR"YQUR"UL"[QMb"QTTSVXRUMZVNL[g"[ZN"PUTZLNMM"QL]"OQPUN[W"SY"XSRWXZSLW" UM" LS[" LNTNMMQPURW" ^SS]r" l/SPLcNP^NP" N[" QR+" 9EEB1" !Em+" *PSMMD]UMTUXRULQPW"TSRRQcSPQ[USL"UM"Q"ZU^ZRW"TSVXRUTQ[N]"NL]NQOSPK"UL"aZUTZ"XNSXRN"YPSV"]UMTUXRULNM"SY" TSLMU]NPQcRW"]UYYNPNL[" TSLM[U[\[USLM"QUV" [S" UL[NPQT[K" N`TZQL^N" U]NQM"QL]"MSRON"MSVN"bUL]"SY"XPSYNMMUSLQR"[QMb+""".M"ZQM"cNNL"URR\M[PQ[N]"QL]"]UMT\MMN]"QcSONK" [ZN"]NMU^L"[NQV"MZSaN]"MU^LM"SY"

M\cM[QL[UQR"RUL^\UM[UT"QM"aNRR"QM"VN[ZS]SRS^UTQR"]UONP^NLTN"QRPNQ]W"UL"[ZN"TS\PMN"SY"[ZNUP" ULU[UQR" VNN[UL^M+" 2NPNK" Q" TNL[PQR" TZQRRNL^N" aQM" [S" NM[QcRUMZ" Q" V\[\QR"\L]NPM[QL]UL^"SY"aZQ[" U["VNQL[" [S"]NMU^L"YPSV"!"#$%/0'1$++%/$0+/$1",;$2+"%S"[ZN"XPSTNMM" ]NMU^LNPK" [ZUM" XNPMXNT[UON"aQM" Q" YPQVNaSPbK" YPSV"aZUTZ" ULX\[" [S" ULYSPV"

"""""""""""""""""""""""""""""""""""""""""""!,"%ZN"XSUL["UM"QRMS"]UMT\MMN]"UL"[ZN"ULLSOQ[USL"RU[NPQ[\PN"lN+^+"#dUPU"QL]"/\ZL"!A,,m"

999""

OQPUS\M"]NMU^L"MSR\[USLM"TS\R]"cN"XPS]\TN]+"%ZN"]NMU^L"MSR\[USL"aQM"[Z\M"N`XNT[N]"[S" NVNP^N" YPSV" [ZN" ULX\["XPS]\TN]" UL" [ZN"XPSTNMMK" PQ[ZNP" [ZQL"QM" Q" PNM\R[" YPSV"Q"XPN]N[NPVULN]" ]NMU^L" S\[RULN+" %ZN" YPQVNaSPb"aQM" cQMN]" SL" QT[UON" TSRRQcSPQ[USL"cN[aNNL" TRUNL[" SP^QLU_Q[USL" QL]" ]NMU^LNPK" UL" aZUTZ" [ZN" TRUNL[" SP^QLU_Q[USL"ULYSPVN]" [ZN" ]NMU^L" XPSTNMM" cW" cPUL^UL^" YSP[Z" MSVN" SY" [ZN" TSVXRN`U[W" SY" U[M"XPQT[UTN+"%ZUM"QT[UON"ULOSRONVNL["SY"[ZN"TRUNL["SP^QLU_Q[USL"PNXPNMNL[N]"NONL[M"[ZQ["aNPN" XNPTNUON]" QM" \LYQVURUQP" [S" VSM[" SY" [ZN" QPTZU[NT[M+" %S" [ZNV" [ZN" TSLTNX[" SY"XPSTNMM" UM" Q" LQ[\PQR" ]NMTPUX[USL" SY" [ZN" MNh\NL[UQR" S\[RULN" SY" NONL[M" [ZQ[" LQ[\PQRRW"TSLM[U[\[N"QL"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"3ONPW[ZUL^"[ZQ["ZQXXNLM"UM"Q"XQP["SY"[ZUM"XPSTNMMK"QL]"XPSTNMM"QL]"XPS]\T["VU^Z["[Z\M"cN"MQU]"[S"VNP^N"UL[S"SLN"ULMNXQPQcRN"\LU[+""""#L"[ZN"ULU[UQR"VNN[UL^"cN[aNNL"[ZN"VNVcNPM"SY"[ZN"]NMU^L"[NQVK"U["aQM"QXXQPNL["

[S"cS[Z"XQP[UNM" [ZQ["]NMU^LUL^"YPSV"!"#$%/0'1$++%/$0+/$1",;$2" ULTR\]N]"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM"[ZQ["ULOSRON]"Q"M\cM[QL[UQR"^PS\X"SY"PNXPNMNL[Q[UONM"YPSV"[ZN"TRUNL[" SP^QLU_Q[USL+" .RMSK" U[" aQM" TRNQP" [ZQ[" [ZN" S\[TSVN" SY" [ZNMN" QT[UOU[UNM" aQM"VNQL["[S"ULYSPV"[ZN"]NONRSXVNL["SY"QL"QPTZU[NT[\PQR"]NMU^L"MSR\[USL+"-\["[ZQ["aQM"QcS\["QM"YQP"QM"[ZN"Q^PNNVNL["aNL[+"#["aQM"\LTRNQP"aZQ["[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"aS\R]"TSLMUM["SY" QL]K" UL"XQP[UT\RQPRWK"ZSa" [ZN"V\R[U[\]N"SY"VQ[NPUQR"XPS]\TN]"cW"[ZN"NL]"\MNP"PNXPNMNL[Q[UONM"TS\R]"UL"YQT["ULYSPV"[ZN"QT[\QR"]NMU^L"XPSTNMM+".M"[ZN"TSRRQcSPQ[USLQR"Q[[NVX[M"TSL[UL\N]" [ZPS\^ZS\[" [ZN"aNNbMK" [ZUM"XPScRNV"SY"OSR\VN"QL]" [PQLMRQ[USL"aQM" PNXNQ[N]RW" QLLS\LTN]+" #[" bNX[" cNUL^" \LTRNQP" ZSa" [ZUM"VQ[[NP"TS\R]" cN" cPS\^Z[" UL[S" Q" YSPVQ[" [ZQ[" [ZN" QPTZU[NT[M"aNPN" QcRN" [S" \L]NPM[QL]" QM" QL"QT[\QR"ULX\[+"2Sa"MZS\R]"U["cN"[PQLMRQ[N]"QL]"cW"aZSVo"%ZUM"XQP[UT\RQP"ULM[QLTN"SY"]UMQ^PNNVNL[K"aZUTZ"LNONP"PNQTZN]"Q^PNNVNL["QVSL^"[ZN"[NQV"VNVcNPMK"VU^Z["cN"MNNL"QM"QL"N`QVXRN"SY"XPScRNVM"[ZQ["aNPN"TQ\MN]"cW"[ZN"TRQMZ"cN[aNNL"OSUTNM+"""#Y" aN" TSVXQPN" .PbU[NVQHM" XPSTNMM" aU[Z" [ZQ[" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM"

]NMU^LNPM"UL"[ZN"%SaL"2QRR"XPSdNT["lTY+"*ZQX[NP"FmK"[ZUM"XPSdNT["ZNR]"Q"VSPN"]UM[ULT["]UOUMUSL" SY" RQcSP" cN[aNNL" [ZN" [aS" ^PS\XM+" 6U^LQR" .PbU[Nb[NP" SP^QLU_N]" QL]"YQTURU[Q[N]"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"QL]"[PQLMRQ[N]"[ZN"PNM\R[M"[ZQ["[ZNMN"QT[UOU[UNM"XPS]\TN]K"aZURN"/2&".PbU[Nb[NP"]NMU^LN]"[ZN"ZS\MN"cQMN]"SL"[ZNMN"[PQLMRQ[USLM+"#L".PbU[NVQK"SL"[ZN"S[ZNP"ZQL]K"[ZN"TRSMNP"TSRRQcSPQ[USL"cN[aNNL"[ZN"[aS"XQP[UNM"aQM"TSLMU]NPN]"Q"TNL[PQR"QMXNT["SY"[ZN"VN[ZS]+"""

99C""

]H!&79:@>9=;6:!6G!=45!6789:;<9=;6:9>!;:?C=*!9!A>9@4!R5=D55:!

FP5=46M6>68;A9>J!B6;A5@!

7U[Z" [ZN" U]NQ" SY" TSLM[P\T[UL^" Q" RULb" cN[aNNL" [ZN" QPTZU[NT[\PQR" QL]" [ZN"SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM" QM" Q" XSUL[" SY" ]NXQP[\PNK" [ZN" LS[USL" SY" [PQLMRQ[USL"XRQWM"Q"TNL[PQR"XQP[+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"]NMU^L"[NQV"aQM"PNMXSLMUcRN"YSP"Q"L\VcNP"SY"[PQLMRQ[USLMK"LNTNMMQPW"[S"cPUL^"[ZN"VQ[NPUQR"XPS]\TN]"UL"[ZN"TS\PMN"SY"[ZN"]NMU^L"XPSTNMM"YPSV"SLN"RNONR"[S"[ZN"LN`[+"7N"VU^Z["MQW"[ZQ["[ZN"LS[USL"SY"[PQLMRQ[USL" PNXPNMNL[N]" Q"VN]UQ[USL" ONZUTRNK" qcN[aNNL" ]UYYNPNL[" QL]" TSL[PQ]UT[UL^"RQL^\Q^NM" QL]" [ZN" PNQRU[UNM" [ZNW" TSLM[U[\[Nr" l/SPLcNP^NP" N[" QR+" 9EEB1" !Am+" #L" [ZN"XPSdNT[K" [ZN" qTSL[PQ]UT[UL^" RQL^\Q^NMr"aNPN" XQP[UT\RQPRW" Q[" M[QbN" UL" [ZN" TS\PMN" SY"[PQLMRQ[UL^" [ZN"VQ[NPUQR" XPS]\TN]" UL" [ZN"XQP[UTUXQ[USL" QT[UOU[UNM+"-\[" cQMN]"SL" [ZN"U]NQ" SY" [ZN" TRSMN" TSRRQcSPQ[USL" cN[aNNL" [ZN" [aS" ^PS\XM" UL" [ZN" ]NMU^L" [NQVK" [ZN"]UOUMUSL" SY" PNMXSLMUcURU[W" aQM" TSL[UL\S\MRW" \LTRNQPK" aU[Z" PN^QP]M" [S" [ZN" OQPUS\M"XPSTNMMNM" SY" [PQLMRQ[USL+" 7ZS" aQM" M\XXSMN]" [S" \L]NP[QbN" [ZUM" YUPM[" ULM[QLTN" SY"[PQLMRQ[USLo" %ZN" h\NM[USL" UM" TNL[PQRK" aU[Z" PN^QP]M" [S" ZSa" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL"TQL"cN"\MN]"UL"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"QM"Q"TSL[N`[+"""%ZN" XPSTNMM" ]NMU^LNPM" SX[N]" YSP" [ZUM" ULM[QLTN" SY" [PQLMRQ[USL" [S" ZQXXNL" UL" Q"

V\[\QR"XPSTNMMK"aZUTZ"ULOSRON]"QPTZU[NT[M"QM"aNRR"QM"XPSTNMM"]NMU^LNPM+"%S"[ZNVK"U["aQM"UL"[ZN"QT[\QR"VNN[UL^"cN[aNNL"XNPMXNT[UONM"[ZQ["[ZN"Q]]N]"OQR\N"PNMU]N]+"7U[Z"VSPN" XNPMXNT[UONMK" YPSV" aZUTZ" [ZN" VQ[NPUQR" TS\R]" cN" XNPTNUON]K" VSPN" ]NMU^L"SXXSP[\LU[UNM" TS\R]" STT\P+" %ZN" QPTZU[NT[MK" SL" [ZN" S[ZNP" ZQL]K" QMM\VN]" [ZQ[" [ZN"XPSTNMM"]NMU^LNPM"aS\R]"cPUL^"[ZN"VQ[NPUQR"[ZPS\^Z"U[M"YUPM["ULM[QLTN"SY"[PQLMRQ[USLK"QM" [ZNW"aNPN" [ZNVMNRONM" \LYQVURUQP" aU[Z" M\TZ"VQ[[NP+" 4PNM\VQcRW" RSSbUL^" YSP" Q"M\cM[U[\[N" YSP" [ZN" QcMNL[" cPUNYK" [ZNW" SXNLRW" TQRRN]" YSP" TSLTPN[N" ULX\[" k" Q" RUM[" SY"!1'.1*(+,'.+2% k" YPSV" aZUTZ" [ZNUP" XPSTNMM" SY" ]NMU^LUL^" TS\R]" MN[" YSP[Z" QL]"TSL[UL\N+"2NPNK" [ZN"LS[USL"SY"Q" RUM[" MNNVN]" [S" YSPV"Q" MNLMNVQbUL^"TSVXSLNL[" UL"[ZN" MN[\X+" ." ONZUTRN" \XSL" aZUTZ" Y\P[ZNP" QT[USL" TS\R]" cN" MNT\PN]g" Q" qMTZNVQ[Qr"YPSV"aZUTZ"]UPNT[USL"TS\R]"cN"UL]UTQ[N]"l7NUTb"!A?A1"!F;m+"""%ZN" MU[\Q[USL"VU^Z[" cN" XNPTNUON]" QM" QL" N`QVXRN" SY" XSRWXZSLUT" TSL]U[USLM1"."

TPSMMD]UMTUXRULQPW"Q[[NVX["[S"TSRRQcSPQ[NK"UL"aZUTZ"[aS"]UYYNPNL["QXXPSQTZNM"[S"[ZN"]NMU^L"XPSTNMM"TSRRU]N+".M"SLN"SY"[ZN"XPSTNMM"]NMU^LNPM"XSUL[M"S\[1""

99;""

!M$%#6&%.'% ,&$6%:#6"% "#$8%7$6."%)8%1'.1*(+,'.+A% =>?%3%61"(6**8% "#'(-#"% 34&%*,+"$&%(/%+'7$%'@% "#$%1'.+$C($.1$+%'@%+'7$%'@% "#$% "#,.-+% "#6"%:$0$%)0'(-#"% @'0"#%=6+% 6% 0$+(*"% '@% "#$% /60",1,/6",'.% 61",;,",$+?A% =>?% =U("?% "#$8% +",**% 6+5$&% @'0% 6%1'.1*(+,'.9%6.&%3%+,7/*8%1'(*&.4"%(.&$0+"6.&%:#6"%"#$8%7$6."A%n6"$0%3%"#'(-#"%"#6"%:#6"%"#$8%6+5$&%@'0%:6+%+'7$%+'0"%'@%+/6",6*%)0,$@Q%X:#6"%,+%,.%@61"%0$C(,0$&%,+%+(1#%6.&%+(1#%+/61$4A%E'7$"#,.-%"#6"%0$+$7)*$&%"#$%5,.&%'@%)0,$@%"#$840$%(+$&%"'A%=>?%3%"#,.5%"#$840$%(+$&%"'%6%7(1#%7'0$%1'.10$"$%"6+5%"'%+'*;$A%M#6"%78%,./("+%,7/*8%,+%/$0#6/+%06"#$0%"#6"%8'(%C($+",'.%+'7$%'@%"#'+$%@,<$&%,&$6+%6)'("%+/6",6*%'("*,.$+A2%"2NPNK"[ZN"cPUNY"SY"PNh\UPNVNL[M"UM"Q^QUL"\MN]"QM"QL"NXU[SVN"SY"[ZN"]UONP^NLTN"UL"

XNPMXNT[UONM" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPM+" 7ZURN" [ZN" QPTZU[NT[M" QPN"\MN]"[S"Q"cPUNY"aU[Z"TRNQP"PNh\UPNVNL[M"[S"YSPV"[ZN"XSUL["SY"]NXQP[\PN"SY"[ZN"]NMU^L"XPSTNMMK"[ZN"XPSTNMM"]NMU^LNPM"YST\M"SL"[ZN"TSL[UL\S\M"]UQRS^\N"aU[Z"[ZN"TRUNL[K"UL"SP]NP"[S"^S"cNWSL]"[ZN"!@,<$&%,&$6+%6)'("%+/6",6*%'("*,.$+2+"""%ZN"QPTZU[NT[MK"SL"[ZN"S[ZNP"ZQL]K"ZQ]"Q"]UYYNPNL["N`XNT[Q[USL"SY"[ZN"]UOUMUSL"SY"

RQcSP"cN[aNNL"[ZN"[aS"XQP[UNM"SY"[ZN"[NQVK"QL]"QRMS"SY"ZSa"[ZNMN"\LYQVURUQP"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TS\R]"cN"\[URU_N]1"""2=AAA?%,"%:6+%1*$60*8%'(0%,7/0$++,'.%"#6"%,"%:6+%"#$,0%F')%"'%-6"#$0%"#$+$%"#,.-+9%

6.&%3%61"(6**8% "#,.5% "#$8%+6,&% "#$8%:'(*&%@0'7%"#$%;$08% @,0+"%&68%=>?AG#$%#(76.%0$+'(01$+%:$0$%F(+"%)6&*8%6++$7)*$&%6"%"#,+%/',."%,.%"#$%/0'1$++9%X16(+$%:$%+6"%fNZ%601#,"$1"+% 6.&% d% @0'7% 6.'"#$0% &$/60"7$."% ="#$% /0'1$++% &$+,-.$0+?9% :#'% ,.% @61"%+#'(*&%#6;$%&'.$%6%*'"%7'0$%,.%'0&$0%"'%-$"%6**%"#$+$%*''+$%$.&+%"'-$"#$0A%E'%,.%6%:68% 3% "#,.5% :$% ="#$% 601#,"$1"+?% -'"% @0(+"06"$&% :,"#% :6,",.-% @'0% "#$% '"#$0+% ="#$%/0'1$++%&$+,-.$0+?%"'%-$"%,"%"'-$"#$0A2%%""7ZQ[" [ZN" QPTZU[NT[" UL" [ZUM" h\S[Q[USL" UL]UPNT[RW" PNVQPbM" UM" [ZQ[" [ZNW" aNPN" [SS"

VQLW"QPTZU[NT[M"SL"[ZN"dScK"LS["bLSaUL^"aZQ["[S"]S"UL"SP]NP"[S"^N["[ZN"]NMU^L"aSPb"UL[S"XPS^PNMMK"aQU[UL^"YSP" [ZN"XPSTNMM"]NMU^LNPM" [S"ZQL]"SONP" [ZN" PNM\R[M" YPSV"[ZN"SP^QLU_N]"XQP[UTUXQ[USL+" #L" [ZUM"aQWK" [ZN" PNXNQ[N]"TQRR" YSP"!1'.1*(+,'.+2" TQVN" [S"TZQPQT[NPU_N" [ZN" ]NMU^L" [NQVHM" ^NLNPQR" Q[[NVX[" Q[" TSRRQcSPQ[USL+" 'LN" OUNaXSUL["TQRRM"YSP"Q"RUM["SY"PNh\UPNVNL[MK"\XSL"aZUTZ"[ZN"TPNQ[UON"XPSTNMM"SY"]NMU^LUL^"TS\R]"cN" RQ\LTZN]" QL]" TSL[UL\N]K" aZURN" [ZN" S[ZNP" OUNaXSUL[" PQ[ZNP" M\^^NM[M" Q" V\[\QR"XPSTNMM" SY" [PQLMRQ[USLK" YPSV" aZUTZ" Q" LNa" [WXN" SY" ULX\[" [S" ULYSPV" [ZN" ]NMU^L"MSR\[USL"TQL"NVNP^N+"%ZN"YUPM["NVXZQMU_NM"MNXQPQ[USLK"aZURN"[ZN"RQ[[NP"M\^^NM[M"[ZQ["

99F""

[ZN"[PQLMRQ[USL"[QbNM"XRQTN"QM"Q"PNM\R["SY"[ZN"TSRRQcSPQ[USL"cN[aNNL"XPSTNMM"]NMU^LNP"QL]"QPTZU[NT[+"#L"[ZUM"aQWK"[ZN"RQ[[NP"QXXPSQTZ"VU^Z["QRMS"cN"MQU]"[S"UL]UTQ[N"Q"TRSMNP"PNRQ[USLMZUX"cN[aNNL"[ZN"TRUNL["QL]"[ZN"]NMU^L"[NQV+"-\["U["ULOSRONM"Q"TNP[QUL"MZUY["YPSV"[ZN"[PQ]U[USLQR"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+""6\cM[QL[UQR" NYYSP[M" aNPN" VQ]N" cW" cS[Z" XQP[UNMK" c\[" [ZN" [NQV" LNONP" PNQTZN]" Q"

V\[\QR"\L]NPM[QL]UL^K"aU[Z"PN^QP]M"[S"[ZUM"TP\TUQR"XSUL["UL"[ZN"]NMU^L"XPSTNMM1"ZSa"[ZN" M[UV\R\M" YPSV" [ZN"NL]"\MNPM"^S[" [PQLMRQ[N]" UL[S" [ZN" YSPVQ["SY"QL"QT[\QR" ULX\[+"3ONL[\QRRWK" SLN" SY" [ZN" QPTZU[NT[M" XPS]\TN]" ZUM" SaL" ONPMUSL" SY" Q" [NL[Q[UON"TSLTR\MUSL"SY"[ZN"aSPbMZSXMK"QM"]U]"SLN"SY"[ZN"XPSTNMM"]NMU^LNPM+".R[ZS\^Z"VQ]N"UL" [aS" MNXQPQ[N" XPSTNMMNMK" cS[Z" ]ST\VNL[M" aNPN" ZU^ZRW" QXXPNTUQ[N]" UL" [ZN"M\cMNh\NL["Q[[NVX[M"[S"]NMU^LUL^+""

$2%&'("!%44&,%4+0#%(>4&*''("*!2&

#L" SP]NP" [S" \L]NPM[QL]"VSPN" QcS\[" [ZN" TSRRQcSPQ[USLQR" TZQRRNL^N" cN[aNNL" [ZN"QPTZU[NT[M" QL]" [ZN" XPSTNMM" ]NMU^LNPM" SY" [ZN" ]NMU^L" [NQVK" #" QUV" [S" RSSb" UL[S" [ZN"XPSTNMM"]NMU^LNPMH"VN[ZS]SRS^UTQR"QXXPSQTZK"QM"U["TQVN"YSP[Z"UL"[ZN"TS\PMN"SY"[ZN"<UbQ]S" 2S\MN" XPSdNT[+" 'LN" SY" [ZN" XPSTNMM" ]NMU^LNPM" ULOSRON]" UL" [ZN" XPSdNT[K"N`XRQULM"[ZN"QMXUPQ[USL"QM"YSRRSaM1"""2G#$% )$+"% "#,.-% :'(*&% )$% ,@% ,"% ="#$% 76"$0,6*% /0'&(1$&% )8% "#$% $.&% (+$0%

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

99B""

.^QULK"[ZN"XPSTNMM"]NMU^LNP"NVXZQMU_NM"[ZN"TPSMMD]UMTUXRULQPW"TSRRQcSPQ[USL"QL]"[ZN"]UYYNPNL["XNPMXNT[UONM"QM"TNL[PQR"[S"[ZN"VN[ZS]HM"XS[NL[UQRU[W+"&Q[ZNP"[ZQL"MNNUL^"[ZN"TRQMZ"cN[aNNL"]UYYNPNL["XNPMXNT[UONM"QM"Q"XPScRNVK"MZN"MNNM" U["QM"PNMS\PTN+"q#["]SNM"LS["U]NL[UYW"SP"\LUYWK"c\["[QbNM"[ZN"]UYYNPNLTNM"cN[aNNL"RQL^\Q^NM"QL]"[PUNM"[S"]NQR" aU[Z" [ZNV" UL" Q" TSLM[P\T[UON" aQW+" #[" ]SNM" LS[" MXNQb" YSP" MSVNSLN" NRMN" c\["PNXNQ[M"aZQ[" UM" cNUL^" MQU]" UL" Q" ]UYYNPNL[" RQL^\Q^Nr" l/SPLcNP^NP" N[" QR+" 9EEB1" 99m+"2NPNK" [ZN" XPSTNMM" ]NMU^LNPHM" QXXPSQTZ" MNNVM" [S" cN" [S" YUL]" aQWM" [S" \LYSR]" [ZN"XS[NL[UQR" [ZQ[" [ZN" ]UYYNPNL[" XNPMXNT[UONM" TSL[QULK" QL]" [ZNPNcW" TSL[PUc\[N" [S" [ZN"TSL[UL\S\M"XPS^PNMM"SY"Q"]NMU^L"MSR\[USL+"""

)H!&45!5=4:6879?4;A!9:9>Q@;@!

(S\PUMZ" l9EEBm" XSUL[M" S\[" [ZQ[" VQLW" XPSdNT[M" [ZQ[" TRQUV" [S" cN" c\UR[" SL"N[ZLS^PQXZUT" QXXPSQTZNM" SY[NL" ULOSRON" ]UMTPNXQLTW" UL" N`XNT[Q[USLM" QL]" RQTb" SY"QT[\QR" bLSaRN]^N" QcS\[" [ZN"VN[ZS]K"aZUTZ" TQL"ScMT\PN" [ZN" TSL[PUc\[USL" [ZQ[" [ZN"QXXPSQTZ"VU^Z["SYYNP"[S"[ZN"]NMU^L"XPSTNMM+"2N"]UOU]NM"[ZN"N[ZLS^PQXZUT"QXXPSQTZ"[S"]NMU^L"XPSTNMMNM"UL[S"[aS"VQUL"XSMU[USLM1"[ZN"NVXUPUTQR"QL]"[ZN"QLQRW[UTQR+"%ZN"NVXUPUTQR"XSMU[USL"XNPTNUONM"[ZN"N[ZLS^PQXZUT"ONL[\PN"QM"MTNLUT"YUNR]aSPbK"UL"aZUTZ"[ZN"N[ZLS^PQXZNP"\L]NP[QbNM"Q"XPSTNMM"SY"ScMNPOUL^"QL]" PNXSP[UL^1"qn#"aNL[" [ZNPN"QL]" [ZUM" UM" aZQ[" #" MQaHr" l(S\PUMZ" 9EEB1" ;m+" 2NPNK" PNM\R[M" QPN" MNNL" QM" YQT[M" [ZQ["MZS\R]" cN" XSMMUcRN" [S" ]UM[PUc\[N" QM" [ZNW" QXXNQP" UL" [ZN" TSL[N`[+" %ZN" QLQRW[UTQR"XSMU[USLK" SL" [ZN" S[ZNP" ZQL]K" UL]UTQ[NM" Q" VSPN" TSVXRN`" UL[NPQT[USL" cN[aNNL" [ZN"XQP[UNM" ULOSRON]+" #L" [ZUM" QXXPSQTZK" N[ZLS^PQXZUT" ULh\UPW" MNPONM" QM" QL" QLQRW[UTQR"[SSRK" [ZPS\^Z" aZUTZ" [ZN" TSL[N`[" QL]" [ZN" NONL[M" Q[" M[QbN" TQL" cN" XNPTNUON]" QL]"UL[NPXPN[N]+"""#L" [ZN" MU[\Q[USL" ]NMTPUcN]" QcSON" [ZQ[" TSLTNPLN]" [ZN" [PQLMRQ[USL" SY" [ZN" PNM\R[M"

YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"[ZN"XPSTNMM"]NMU^LNPM"QUVN]"[S"PNXPNMNL["[ZN"RQ[[NPK"QLQRW[UTQR" ONPMUSL" SY" ZSa" N[ZLS^PQXZUT" ULh\UPW" TS\R]" TSL[PUc\[N" [S" ]NONRSX" Q"]NMU^L"MSR\[USL+"6NONPQR"MTZSRQPM"MNNV"[S"NVXZQMU_N"(S\PUMZHM"XSUL[1" [ZQ["[ZN"\MN"SY" N[ZLS^PQXZUT" ULh\UPW" UL" ]NMU^L" XPSTNMMNM" SY[NL" ULOSRON" TZQRRNL^NM" [ZQ[" VQLW"]NMU^LNPM" lYSP" N`QVXRN" QPTZU[NT[Mm" QPN" LS[" [PQULN]" [S" \L]NPM[QL]+" %ZNW" QPN" [Z\M"SY[NL"\LQcRN" [S"\[URU_N" [ZN"XS[NL[UQRU[W" [ZQ["QXXPSQTZNMK"cQMN]"SL"QL"N[ZLS^PQXZUT"[PQ]U[USLK"TQL"NL[QUR"lN+^+"-RSVcNP^"!AACK"=SPMW[ZN"!AAAK"(S\PUMZ"9EEBm+"%ZN"XSUL["UM"cPS\^Z["YSP[Z"cW"[ZN"XPSTNMM"]NMU^LNP"UL"[ZN"h\S[Q[USL"QcSON1"q347%+(0$%"#$8%+",**%16.% (+$% ,"% @'0% +'7$"#,.-9% 6.&% ,"4+% /0')6)*8% 6*+'% )$""$0% "#6.% .'"#,.-9% )("% 3% &'.4"%

99?""

"#,.5%:$40$%$</*',",.-%"#$%,..';6",;$%/'"$.",6*%"#6"%3%)$*,$;$%'(0%7$"#'&+%61"(6**8%#'*&A2%""2NPNK" MZN" NVXZQMU_NM" [ZQ[" UY" [ZN" ]NMU^L"XPSTNMM" UM" cQMN]" SL" [ZN" N[ZLS^PQXZUT"

QXXPSQTZ" l[ZQ[" TZQPQT[NPU_NM" [ZN" XPSTNMM" ]NMU^LNPHM" VN[ZS]mK" [ZNPN" QPN" TNP[QUL"YQT[SPM"[ZQ["QPN"TP\TUQRK"UL"SP]NP"[S"PNONQR"[ZN"VN[ZS]HM"XS[NL[UQRU[W+"%S"cN"QcRN"[S"\[URU_N"[ZN"ULYSPVQ[USL"NVcN]]N]"UL"[ZUM"QXXPSQTZ"QL]"[Z\M"cN"QcRN"[S"]UMTRSMN"[ZN"TSL[PUc\[USL" SY" N[ZLS^PQXZW" UL" [ZNMN" TSL[N`[MK" TSLTPN[N" ULOSRONVNL[" UM" PN^QP]N]"TNL[PQR+" -RSVcNP^" TZQPQT[NPU_NM" [ZUM" QM" NVcS]UN]" N`XNPUNLTNM1" qspt" [ZN" ULMU^Z[M"QL]"\L]NPM[QL]UL^MK"UL"XQP[K"aS\R]"cN"NVcS]UN]"UL"[ZN"N`XNPUNLTNM"SY"[ZN"&$+,-.$0+"aZS"aNPN"YUPM["ZQL]"XQP[UTUXQL[M"UL"[ZN"M[\]Wr"l-RSVcNP^"!AAC1"!;Cm+"2NP"XSUL["UM"[ZQ[" UL" SP]NP" [S" cNLNYU[" YPSV" [ZN" PUTZLNMM" [ZQ[" [ZUM" [WXN" SY" ULYSPVQ[USL" VU^Z["PNXPNMNL[K" WS\" ZQON" [S" cN" ULOSRON]" UL" U[M" TSLTNX[USL+" %ZN" XSUL[" QRMS" PN^QP]M" [ZN"TSLTNX[" SY" ]\PQ[USL+".TTSP]UL^" [S" [ZN" XPSTNMM" ]NMU^LNPM" ULOSRON]" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"VQ[NPUQR"XPS]\TN]"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM"QUVN]"[S"MNPON"QM"QL"ULX\["[ZQ["TS\R]"cN"\[URU_N]""#0'(-#'(""[ZN"]NMU^L"XPSTNMMK"LS["SLRW"[S"ULYSPV"[ZN"YSPVQ[USL"SY"[ZN"VQUL"TSLTNX[+"2NPNK"U["aQM"MNNL"QM"TPU[UTQR"[ZQ["[ZN"[PQLMRQ[USL"aQM"VQ]N" cW" [ZN" [NQV" Q[" RQP^NK"aZUTZ" Q^QUL" NVXZQMU_NM" -RSVcNP^HM"XSUL[1" %ZSMN" UL[NPNM[N]" UL" [ZN" VQ[NPUQRK" LNN]" [S" cN" ULOSRON]" UL" [ZN" XPSTNMM" SY"TQX[\PUL^"U[M"VNMMQ^N+"'

OH!b2Q:A476:;AcS!bA;7AC>97cS!b;=579=;B5c*!5=4:6879?4Q!9=!@=9L5!

;:!=45!K;L9M6!#6C@5!?76E5A=!

#["MNNVM"[ZQ["[ZN"XPSTNMM"]NMU^LNPHM"lLNam"QXXPSQTZ"[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM" PNXPNMNL[M" Q" XPSTNMM" [ZQ[" UM" cQMN]" SL" TSVXRN`" QL]"VUMTNRRQLNS\M" ULX\[K"XPS]\TN]"UL"TSL[UL\S\M"UL[NPQT[USL+"3VXUPUTQR"VQ[NPUQR"YPSV"[ZN"TQMN"UL]UTQ[NM"[ZQ["[ZN"VN[ZS]" UM"]NMTPUcN]"aU[Z" [NPVM" RUbN"!+8.1#0'.,12K"!/606**$*2K"!1,01(*602K"SP"!,"$06",;$2+" %ZNMN" TZQPQT[NPUM[UTM"VU^Z[" PNMNVcRN" TNP[QUL" MSTUN[QR" [NL]NLTUNM" [ZQ["T\PPNL[RW" MNNV" [S"cN" UL" YST\M"k"QRMS"aU[ZUL" [ZN" YUNR]"SY" QPTZU[NT[\PQR"]NMU^L+"%ZN"UL[NPNM[" UL" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" QM" Q"VNQLM" [S" NL^Q^N" [ZN" UL]UOU]\QR"VSPN" TRSMNRW" UL" OQPUS\M" [WXNM" SY" TRUNL[IXPS]\T[IXPSOU]NP" PNRQ[USLMZUXM" UM" c\[" SLN"N`QVXRN"SY"[ZNMN"[NL]NLTUNM+""7ZNL"Q"]NMU^L"UM"TZQPQT[NPU_N]"QM"cNUL^"U[NPQ[UON"QL]"TSL[UL\S\MK" U[" UL]UTQ[NM" [ZQ[" [ZN" PNRQ[USLMZUX" ]SNM" LS[" M[SX" aZNL" [ZN" XPS]\T[" UM"

99,""

YSPVQRRW" ZQL]N]" SONP+"&Q[ZNPK" U[" LNTNMMQPURW" TQPPUNM" SL" QM" Q" PNM\R[" SY" M\cMNh\NL["UL[NPQT[USLM+"2NPNK"]NMU^L"ZQXXNLM"UL"PNTUXPSTQR"QL]"ULYR\NL[UQR"XPSTNMMNM+""-\[" UY" aN" RSSb" Q[" [ZNMN" !+8.1#0'.,12K" !/606**$*2K" !1,01(*602" SP" !,"$06",;$2"

[NL]NLTUNM" UL" QL" QPTZU[NT[\PQR" ]NMU^L" XNPMXNT[UONK" [ZN" TZQPQT[NPUM[UTM" VU^Z[" QRMS"MNNV" TSL[PQ]UT[SPW+" .Y[NP" QRRK" [ZN" XPSTNMM" SY" ]NMU^LUL^" LNTNMMQPURW" UL]UTQ[NM" Q"MNh\NL[UQR" QMXNT[+" #Y" aN" RSSb" Q[" [ZN" TSLTNX[" SY" MWLTZPSLUTU[W" QL]" U[M" SXXSMU[NK"]UQTZPSLUTU[WK" [ZNMN" QPN" TSLLNT[N]" [S" OQPUS\M" [PQ]U[USLM" M\TZ" QM" RUL^\UM[UTMK"M[P\T[\PQRUMVK"J\L^UQL"XMWTZSRS^WK" Y\LT[USLQRUMV"QL]"VSPN+" #L"^NLNPQRK"aN"VU^Z["MQW"[ZQ["[ZN"MWLTZPSLUTI]UQTZPSLUT"PNRQ[USLMZUX"ZQM"[S"]S"aU[Z"[ZN"aQW"aN"XNPTNUON"STT\PPNLTNM" QL]" [ZN" PNRQ[USLMZUXM" cN[aNNL" [ZNV+" 7ZURN" [ZN" MWLTZPSLUT" OUNa"PNXPNMNL[M" [ZN" MLQXMZS[K" UL" aZUTZ" MNONPQR" NRNVNL[M" STT\PM" UL" Q" MUV\R[QLNS\M"VSONVNL[K" [ZN" ]UQTZPSLUT" PQ[ZNP" PNXPNMNL[M" [ZN" RULNQP" QL]" MNh\NL[UQR" M[PN[TZK" UL"aZUTZ"NONL[M"TQL"cN"XNPTNUON]"UL"Q"ZUM[SPUT"[UVN"YPQVN+"""7ZQ[" [ZN" TSLTNX[" SY" MWLTZPSLUTU[W" MNNVM" [S" PNXPNMNL[" UL" [ZN"<UbQ]S" 2S\MN"

XPSdNT[K" UM" [ZQ[" [ZN" QPTZU[NT[\PQR" QL]" [ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNM" TQL" cN"TSLMU]NPN]" QM" MUV\R[QLNS\MK" UL" [ZN" MNLMN" [ZQ[" [ZNW" [QbN" XRQTN" Q[" [ZN" MQVN" [UVN+".RMSK" [ZNW" QPN" YQTURU[Q[N]" UL" Q" aQW" k" [ZPS\^Z" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" [ZN"M\cMNh\NL["Q[[NVX[M"Q["[PQLMRQ[USL"SY"[ZN"XPS]\TN]"VQ[NPUQR"k"[ZQ["VQbNM"U["XSMMUcRN"[S" V\[\QRRW" ULYSPV" NQTZ" S[ZNP+" 6\TZ" Q" [aSDULDSLN" MNh\NLTN" VU^Z[" ZQXXNL"TSLT\PPNL[RWK"c\["U["M[URR"[QbNM"XRQTN"UL"Q"MNh\NLTN"SP"MNh\NLTNM+"GQPUS\M"ULX\[M"QPN"cPS\^Z[" UL[S" MU[\Q[USLMK" YPSV" aZUTZ" MbN[TZNM" QL]" ]PQY[M" SY" Q" ]NMU^L" MSR\[USL"NVNP^N+"%ZNMN"MbN[TZNM"QPN" [ZNL"]UMT\MMN]"QL]"LN^S[UQ[N]"aU[Z" [ZN"TRUNL[K"QL]"MS"YSP[Z+"%ZN"MNh\NLTN"TQL"^S"SL"YSP"Q"MZSP[NP"SP"RSL^NP"XNPUS]"SY"[UVN"QL]"aU[Z"VQLW"SP"YNa"M[NXM"Q[[QTZN]"[S"U[K"c\["U["TQL"M[URR"cN"XNPTNUON]"QM"MNh\NL[UQR+"%ZNPN"VU^Z["[Z\M"cN"MNONPQR" PNQMSLM" [S"bNNX"Q"TNP[QUL"]UM[QLTN" UL" [ZN" PNRQ[USLMZUX"cN[aNNL" [ZN"TRUNL[I\MNP"QL]"[ZN"QPTZU[NT[+"""=UPM[K" [ZNPN" UM" [ZN"LNTNMMQPW" [UVN" MXQL"cN[aNNL" [ZN"XPS]\T[USL"SY" [ZN"VQ[NPUQR"

QL]" [ZN" ]NMU^LNPHM" QT[\QR" ]NMU^L" NYYSP[+" &N[\PLUL^" [S" -RSVcNP^HM" XSUL[" QcSONK" U["VU^Z[" cN" TNL[PQR" YSP" [ZN" ]NMU^LNP" [S" ZQON" cNNL" ULOSRON]" UL" [ZN" XPS]\T[USL" QL]"[PQLMRQ[USL"SY" [ZN"SP^QLU_Q[USLQR"VQ[NPUQR+"-\[" [ZN"[UVN"MXQL"UM" [ZNPN"QRR" [ZN"MQVN+"6NTSL]K"QL]"QM"aQM"XSUL[N]"S\["UL"*ZQX[NP"F"QcS\["[ZN"%SaL"2QRR"XPSdNT[K"XNSXRN"TZQL^N"QM"Q"PNM\R["SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"%ZUM"VNQLM"[ZQ["[ZN"ULX\["[ZQ["[ZN"NL]"\MNP"PNXPNMNL[Q[UONM"ZQON"XPS]\TN]"UL"[ZN"TS\PMN"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"

99A""

VU^Z["ZQON"PNRSTQ[N]"[ZNUP"QT[\QR"\L]NPM[QL]UL^"k"UL"[ZN"VQbUL^+"7ZNPN"]SNM"[ZUM"RNQON"[ZN"QPTZU[NT["UL"[ZN"MWLTZPSLU_N]"XPSTNMMo""%ZUP]K"[ZN"XPSTNMM"]NMU^LNPHM"QXXPSQTZ"QRMS"UL]UTQ[NM"QLS[ZNP"TSL[UL\S\M"QMXNT[1"

%ZN" ULX\[" XPS]\TN]" cW" [ZN" NL]" \MNP" PNXPNMNL[Q[UONM" TQL" cN" \MN]" [ZPS\^ZS\[" [ZN"XPSTNMM+" %ZN" VQ[NPUQR" ZQM" V\[\QR" SX[USLM" QL]" RSL^" [NPV" XS[NL[UQR+" 2NPNK" [ZN"QP^\VNL[" MNNVM" [S" cN" [ZQ[" aZNL" [ZN"VQ[NPUQR" UM" cPS\^Z[" YSP[Z" Q[" Q" RQ[NP" ]Q[NK" U["YSPVM" LNa"VNQLUL^M" k" [S" ]NMU^LNPM" QM"aNRR" QM" [S" \MNP" PNXPNMNL[Q[UONM+"2NPNK" [ZN"!,"$06",;$2" QL]" [ZN" !1,01(*602" MNNV" [S" VQbN" MNLMN" QM" XNPTNX[USLQR" QXXPSQTZNMK"aZURN"!+8.1#0'.,12"M[URR"MNNVM"MSVNaZQ["ULQXXPSXPUQ[N+"""

TH!&45!97A4;=5A=C79>!=79M;=;6:!9@!M;9A476:;A!9:M!@5?979=5M!

&NTQRRUL^"[ZN"h\S[Q[USL"QcSON"cW"SLN"SY"[ZN"QPTZU[NT[MK"ZUM"OUNaXSUL["VU^Z["cN"XNPTNUON]"QM"]UQTZPSLUTK" RULNQP"SP"MNh\NL[UQR+" #L"ZUM"XNPMXNT[UONK" [ZN"TSL[PUc\[USLM"PNXPNMNL[" MNXQPQ[N" NL[U[UNMK" UL" aZUTZ" [ZN" S\[TSVN" SY" SLN" XQP[" SY" [ZN" XPSTNMM"lXPS]\TN]" UL" Q" XQP[UTUXQ[USL" aSPbMZSX" QL]" [PQLMRQ[N]" cW" [ZN" XPSTNMM" ]NMU^LNPMm"MNPONM" QM" QL" ULX\[" [S" ULYSPV" [ZN" LN`[" l[ZN" QPTZU[NT[MH" ]NMU^L" XPSTNMMm+" 2NPNK" ZN"]UM[UL^\UMZNM"[ZN"PNMXSLMUcURU[UNM"cN[aNNL"[ZQ["SY"[ZN"XPSTNMM"]NMU^LNPM"QL]"[ZQ["SY"[ZN" QPTZU[NT[M+" .M" ZN" PNVQPbM1" !3% "#,.5% :$% F(+"% -'"% @0(+"06"$&% '@% :6,",.-% @'0% "#$%'"#$0+%"'%-$"%,"%"'-$"#$02+"""=PSV"[ZN"]NMTPUX[USL"SY"[ZN"TRQMMUTQR"]NMU^L"XPQT[UTNK"S\[RULN]"UL"MNT[USL"B.K"aN"

bLSa"[ZQ["[PQULN]"QPTZU[NT[M"MSVNZSa"PNTS^LU_N"[ZN"UVQ^N"SY"[ZN"QPTZU[NT["QM"[ZQ["SY"QL"QP[UM[K"cQMN]"SL"[ZNUP"N]\TQ[USLQR"cQTb^PS\L]+"%S"VQLW"QPTZU[NT[MK"[ZN"XPSTNMM"SY"[PQLMRQ[UL^"[ZN"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"UL"TSRRQcSPQ[USL"aU[Z"[ZN"XPSTNMM" ]NMU^LNPM" ]SNM" LS[" TSPPNMXSL]" aU[Z" [ZNUP" XPSYNMMUSLQR" PNTS^LU[USL+"7U[Z"PN^QP]M" [S" TSLMU]NPUL^" [ZN" XPSTNMM" ]NMU^LNPMH" QXXPSQTZ" UL" [ZN" TSL[N`[" SY" [ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"[ZUM"ULTSL^P\NLTN"cN[aNNL"[ZN"[aS"XNPMXNT[UONM"MNNVM"TNL[PQR+" %S" [ZN" XPSTNMM" ]NMU^LNPK" [ZN" XPSTNMM" SY" [PQLMRQ[UL^" cW" cPUL^UL^" ]UYYNPNL["XNPMXNT[UONM" [S^N[ZNP" QXXNQPM" [S" PNXPNMNL[" Q" TP\TUQR" QMXNT[" SY" [ZN" VN[ZS]HM"XS[NL[UQR+"%ZN"QPTZU[NT[K"SL"[ZN"S[ZNP"ZQL]K"LQ[\PQRRW"MNNVM"[S"YNNR"\LYU["YSP"[ZUM"XQP["SY"[ZN"]NMU^L"dS\PLNW+"""%ZN"XPSTNMM"]NMU^LNP"PNTS^LU_NM"[ZQ["Q"VSPN"MNXQPQ[N"M[P\T[\PN"[S"QTTSVVS]Q[N"

[ZN"[PQLMRQ[USL"XPSTNMM"VU^Z["SYYNP"Q"TSL[PUc\[USL"[S"[ZN"]NMU^L"]NONRSXVNL["l!"#$8%

9CE""

+",**%16.%(+$%,"%@'0%+'7$"#,.-9%6.&%,"4+%/0')6)*8%6*+'%)$""$0%"#6.%.'"#,.-2m+"-\["MZN"QRMS"NVXZQMU_NM"[ZQ["cW"]SUL^"MSK"[ZN"VN[ZS]HM"XS[NL[UQR"]SNM"LS["Y\RRW"TSVN"UL[S"XRQW" I!3% &'.4"% "#,.5% :$40$% $</*',",.-% "#$% ,..';6",;$% /'"$.",6*% "#6"% 3% )$*,$;$% '(0%7$"#'&+% 61"(6**8% #'*&A2K+" #[" UM" UL" [ZN" XPSTNMM" SY" QLQRW_UL^" [ZN" VQ[NPUQR" [ZQ[" [ZN"QXXPSQTZ"UM"PN^QP]N]"N[ZLS^PQXZUT"lN+^+"-RSVcNP^"!AACK"(S\PUMZ"9EEBm+"-QMN]"SL"[ZNUP"XPSYNMMUSLQR"[PQULUL^K"VQLW"QPTZU[NT[M"aS\R]"PNdNT["QL"ULOU[Q[USL"[S"ULOSRON"UL"M\TZ"QL"QXXPSQTZ+"""

!3"4+#0&!"88%#$4&

%ZUM"MNT[USL"ZQM"URR\M[PQ[N]"QL"Q[[NVX["Q["]NMU^L"TSRRQcSPQ[USL"[ZQ["aNL["cNWSL]"[ZN" XPSYNMMUSLQR" PNRQ[USLMZUXM" [ZQ[" \M\QRRW" TZQPQT[NPU_N" [ZN" ]NONRSXVNL[" SY"QPTZU[NT[\PQR"]NMU^L+"#L"[ZN"YSRRSaUL^K"#"QUV"[S"aPQX"\X"Q"YNa"SY"[ZN"XSUL[M"[ZQ["[ZN"M[SPW"QcS\["[ZN"Q[[NVX[N]"TSRRQcSPQ[USL"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["TQL"XPSOU]N"[S"S\P" \L]NPM[QL]UL^" SY" [ZN" TRSMNP" RULb" cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"""%ZN"<UbQ]S"2S\MN"XPSdNT["aQM"YPQVN]"QM"Q"]NMU^L"XPSTNMMK"UL"aZUTZ"[ZN"cPUNY"

SY"PNh\UPNVNL[M"QL]"[ZN"]NMU^L"MSR\[USL"[S"VNN["[ZNMNK"aNPN"M\XXSMN]"[S"NVNP^N"UL"Q"PNTUXPSTQRK"TSLT\PPNL["XPSTNMM+"%ZN"MN[\X"TQ\MN]"MNONPN"TZQRRNL^NM"[S"[ZN"]NMU^L"[NQVK" aU[Z" PNYNPNLTN" [S" [ZNUP" ]UYYNPNL[" VN[ZS]SRS^UTQR" QXXPSQTZ" [S" \L]NP[QbN"lQPTZU[NT[\PQRm" ]NMU^L" XPQT[UTN+" 2SaNONPK" [ZUM" U]NQ" SY" NM[QcRUMZUL^" [ZN" TRUNL[HM"SP^QLU_Q[USLQR" ULX\[" lQL]" [ZNPNcW" [ZN" SP^QLU_Q[USLQR" ]NMU^LmK" aZURN" Q[" [ZN" MQVN"[UVN"]NONRSXUL^"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USLK"MNNVM"TNL[PQRK"UL"SP]NP"[S"M\XXSP["[ZN"RULb"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"%ZN"cPUNY"SY"PNh\UPNVNL[M"UL"Q"c\UR]UL^"XPSdNT[" ZQM" [PQ]U[USLQRRW" PNXPNMNL[N]" [ZN" MNXQPQ[USL" cN[aNNL" [ZNMN" [aS" XPSTNMMNM"lTY+"*ZQX[NP"!m+"7U[Z" [ZN"NM[QcRUMZVNL["SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM" QL"UL[N^PQ[N]"XQP["SY"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"[ZUM"MNXQPQ[USL"^N[M"M\cM[QL[UQRRW"TZQRRNL^N]+" 2NPNK" [ZN" XPSTNMM" SY" U]NL[UYWUL^" TRUNL[" PNh\UPNVNL[MK" aZUTZ" aS\R]"[PQ]U[USLQRRW" ZQON" cNNL" NM[QcRUMZN]"/0,'0" [S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" ZQM"LSa" cNNL" VNP^N]" UL[S" [ZN" XPSTNMM" SY" ]NMU^LUL^+" #L" [ZUM" aQWK" [ZN" LS[USL" SY" [ZN"NVNP^UL^"cPUNY"VU^Z["cN" MQU]" [S" PNXPNMNL["Q"XS[NL[UQR" nTSLLNT[USLH+" #["VU^Z["ZQON"ZQ]"Q"]UYYUT\R[" [UVN"NM[QcRUMZUL^" UL" [ZUM"XQP[UT\RQP"XPSdNT[K"c\[" [ZN" U]NQ" UM" UL" U[MNRY"

9C!""

TNL[PQR" [S" [ZN"]UMT\MMUSL"SY"Q"TRSMNP" RULb"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"""7ZW"aQM"U["MS"]UYYUT\R["YSP"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"[S"VNN["\L]NP"[ZNMN"

TSL]U[USLMo"%ZN"QMXUPQ[USL"[S"TZQL^N"[ZN"[PQ]U[USLQR"YPQVNaSPb"SY"[ZN"QPTZU[NT[\PQR"]NMU^L" XPSTNMM" ULOSRON]" LNa" aQWM" SY" aSPbUL^" QL]" TSRRQcSPQ[UL^" [ZQ[" aNPN"M\cM[QL[UQRRW"\LYQVURUQP" [S" [ZN"QPTZU[NT[M" ULOSRON]" UL" [ZN"XPSdNT[+"2NPNK" [ZN"]NMU^L"[NQV" aQM" TPSMM" ]UMTUXRULQPWK" QL]" QM" aN" bLSa" YPSV" PNMNQPTZ" QM" aNRR" QM" YPSV"XPQT[UTQR" N`XNPUNLTNK" U[" UM" ]UYYUT\R[" [S" aSPb" QTPSMM" XPSYNMMUSLQR" cS\L]QPUNM+" %ZN"<UbQ]S"2S\MN"XPSdNT["N`XSMN]"Q"L\VcNP"SY"Q[[NVX[M"Q["LNa"aQWM"SY"aSPbUL^"aU[Z"QPTZU[NT[\PQR" ]NMU^L+" (\N" [S" Q" ^NLNPQR" VUMVQ[TZ" SY" XPSYNMMUSLQR" RQL^\Q^NM" QL]"VN[ZS]SRS^UTQR" QXXPSQTZNMK" [ZN" QPTZU[NT[M" ZQ]" Q" ZQP]" [UVN" \L]NPM[QL]UL^" [ZN"XPSTNMM"]NMU^LNPMK"QL]"OUTN"ONPMQ+""".M" #" ZQON" ]NMTPUcN]" QL]" URR\M[PQ[N]" UL" *ZQX[NP" ;K" [ZN" QPTZU[NT[" XPSYNMMUSL"

PNXPNMNL[M"Q"RQL^\Q^N"QL]"Q"VN[ZS]SRS^UTQR"QXXPSQTZ"[S"[ZN"]NMU^L"XPSTNMM"[ZQ["UM"]UYYUT\R[" YSP" S\[MU]NPM" [S" TSVXPNZNL]+" -NTQ\MN" [ZN" XPSYNMMUSL" UM" T\PPNL[RW" YQTN]"aU[Z" TNP[QUL" TZQRRNL^NM" [ZQ[" ULOSRON" LNa" XRQWNPM" UL" [ZN" c\UR]UL^" XPSTNMMK" [ZNMN"QMXNT[M" cNTSVN" PNRNOQL[+" 7ZNL" [ZN" QPTZU[NT[M" ULOSRON]" UL" [ZN" <UbQ]S" 2S\MN"XPSdNT["YS\L]"U["]UYYUT\R[" [S"NL^Q^N"UL" [ZN"]NMU^L"XPSTNMMK" U["aQM"LS["cNTQ\MN"[ZNW"aNPN" LS[" ^SS]" QPTZU[NT[M" SP" cNTQ\MN" [ZNW" RQTbN]" UL[NPNM[+"&Q[ZNPK" U["aQM" cNTQ\MN"[ZNW"]U]LH["ZQON"[ZN"N`XNPUNLTN"[S"[QbN"SL"[ZUM"MZUY["UL"XNPMXNT[UON+"%S"TSL[QUL"QL]"QTTSVVS]Q[N" M\cM[QL[UQR" XPSYNMMUSLQR" TZQL^NMK" aN" LNN]" [UVN" QL]" PNMSRON" [S"XPQT[UTN+"%ZN"<UbQ]S"2S\MN"XPSdNT["VU^Z["cN"MNNL"QM"M\TZ"Q"[PQULUL^"TQVX+"""".M"YSP"[ZN"XPSTNMM"]NMU^LNPMK"[ZNW"aNPN"QRMS"YQTN]"aU[Z"MNONPN"TZQRRNL^NMK"aU[Z"

PN^QP]M" [S" NM[QcRUMZUL^" [ZNUP" VN[ZS]M" QM" QL" UL[N^PQ[N]" XQP[" SY" QL" QPTZU[NT[\PQR"]NMU^L" XPSTNMM+" %ZN" PNQMSL" YSP" [ZUM"aQM" LS[" SLRW" cNTQ\MN" [ZN" QPTZU[NT[M" YS\L]" U["ZQP]" [S" PNMXSL]" [S" [ZN" XPSTNMM" ]NMU^LNPMH" LNa" QXXPSQTZ" QL]" [ZQ[" [ZN" YUNR]" SY"QPTZU[NT[\PQR"]NMU^L"TQL"cN"]UYYUT\R[" YSP"S\[MU]NPM" [S"NL[NP+".RMSK" [ZN"]NYULU[USL"SY"[ZN"PSRN"QL]"[ZN"VN[ZS]M"U["PNXPNMNL[N]"MNNVN]"\LTRNQP+"-NUL^"ULYSPVN]"cW"MNONPQR"[PQ]U[USLM" QL]" PNXPNMNL[N]"cW"XNSXRN" YPSV"]UYYNPNL[" N]\TQ[USLQR"cQTb^PS\L]MK" [ZN"PSRN" QL]" U[M" XSMU[USL" LNN]" Y\P[ZNP" TSLMSRU]Q[USLK" UL" SP]NP" [S" NM[QcRUMZ" UL" [WXN" SY"]NMU^L"TSL[N`[+"""

9C9""

'LN"SY"[ZN"VN[ZS]SRS^UTQR"TSLTNX[M"Q["M[QbN"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["aQM"[ZN"U]NQ"SY"Q"]NMU^L"XPSTNMM"[ZQ["aQM"cQMN]"SL"Q"!+8.1#0'.,12"]NMU^L"RS^UT+"2NPNK"[ZN" XQPQRRNR" XPS]\T[USL" SY" SP^QLU_Q[USLQR" PNh\UPNVNL[M" QL]" QPTZU[NT[\PQR"NVcS]UVNL[M"MNNVM"RN^U[UVQ[NK"aU[Z"PNYNPNLTN"[S"T\PPNL["MSTUN[QR"[NL]NLTUNM+"#Y"aN"QTTNX[" [ZUM" MSTUN[QR" QVcU[USLK" [ZN" U]NQ" SY" [ZN" MWLTZPSLUT" M[P\T[\PN" VU^Z[" cN"TSLMU]NPN]"QM"PNMS\PTNY\R+"-\["aN"MZS\R]" PNTQRR" [ZQ[" [ZNMN"XPSTNMMNM"QPN"cQMN]"SL"TPSMM" ]UMTUXRULQPW" TSRRQcSPQ[USL+" %ZN" LS[USL" SY" M\TZ" Q" XQPQRRNR" QL]" UL[NPMNT[UL^"]NMU^L"RS^UT"LNN]M"TQPNY\R"Q[[NL[USLK"UL"SP]NP"YSP"LNa"TSRRQcSPQ[USL"XQP[LNPM"[S"YSPV"QL" \L]NPM[QL]UL^" SY" [ZNUP" V\[\QR" h\QRU[UNM+" %S" N`XRSPN" QL]" \[URU_N" LNa"TSRRQcSPQ[USLQR" SXXSP[\LU[UNM" QL]" XPS]\TN" LNa" nTSLLNT[USLMHK" aN" LNN]" LNa"VN[ZS]SRS^UTQR"QL]"RUL^\QR"TSVXN[NLTUNM"[S"M\XXSP["M\TZ"N`XRSPQ[USL+"%ZNMN"aNPN"LS[" XPNMNL[" UL" [ZN"<UbQ]S" 2S\MN" XPSdNT[+" .M" aN" ZQON" MNNL" UL" [ZN" M[SPW" QcSONK"RQL^\Q^N" QL]" TSLONPMQ[USLM" QPN" XSaNPY\R" ONZUTRNM" [S" M\XXSP[" k" SP" XPNONL[" k"TSVV\LUTQ[USL+"%ZN"TSLLS[Q[USLM" [ZQ[" [ZN"TSLTNX["SY"!/0'1$++2"ZQ]"UL".PbU[NVQ"]\PUL^" [ZN" [UVN" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" VU^Z[" cN" QL" N`QVXRN" SY" ZSa"RQL^\Q^N"ZUL]NPN]"[ZN"TSRRQcSPQ[USL+"$Na"TSLTNX[M"LNN]"[UVN"QL]"NYYSP[K" UL"SP]NP"[S"^N["UL[N^PQ[N]"UL[S"Q"XPQT[UTN+"""#L" [ZN"LN`[" MNT[USLK" #"aURR" URR\M[PQ[N" QL]"]UMT\MM" UL"VSPN"]N[QUR"ZSa" [ZN"QT[\QR"

]NMU^L"SY"[ZN"<UbQ]S"2S\MN!A"NM[QcRUMZN]"UL"[ZN"]NMU^L"[NQV+"7U[Z"PNYNPNLTN"[S"[ZN"]UMT\MMUSLM"SY"TSRRQcSPQ[USL"QL]"TPSMM"]UMTUXRULQPU[W"[ZQ["ZQON"cNNL"S\[RULN]"QcSONK"SLN" XQP[UT\RQP" TSRRQcSPQ[USLQR" Q[[NVX[" [ZQ[" QXXNQPN]" [S" cN" \LXPScRNVQ[UTK"aURR" cN"URR\M[PQ[N]+" #L" VW" N`XRSPQ[USL" SY" [ZUM" PNRQ[USLMZUX" cN[aNNL" QL" QPTZU[NT[" QL]" Q"XPSTNMM"]NMU^LNP" UL" [ZN"]NMU^L" [NQV" U[" MNNVN]" [ZQ[" [ZUM" M\TTNMM"aQM" TQ\MN]"cW" Q"TSVcULQ[USL"SY"XNPMSLQR"QL]"XPSYNMMUSLQR"NRNVNL[M+"%ZN"[aS"ZNR]"Q"^NLNPQR"UL[NPNM["UL" N`XRSPUL^" QL]" QLQRW_UL^" Q" RQP^N" QL]" V\R[UYQTN[N]" VQ[NPUQR" lXPS]\TN]" cW" Q"nTSVXS\L]" cS]W" SY" \MNPMH" UL" [ZN" SP^QLU_N]" XQP[UTUXQ[USL" QT[UOU[UNMm+" .RMSK" [ZNW"RUbN]"NQTZ"S[ZNP+"*SRRQcSPQ[USL"UM"Q"XNPMSLQR"[ZUL^"[ZQ["ULOSRONM"YUNR]M"SY"UL[NPNM[MK"aQWM" SY"aSPbUL^K" [NVXNPQVNL[" QL]"VSPN+" %ZN" ]UMT\MMUSL" cNRSa"aURR" URR\M[PQ[N" Q"XQP["SY"[ZNUP"TSRRQcSPQ[USL+""" "

"""""""""""""""""""""""""""""""""""""""""""!A"%ZUM"]PQY["SY" [ZN"<UbQ]S"2S\MN" PNXPNMNL[M" [ZN" YUPM["XZQMN"SY" [ZN"XPSdNT[K"aZUTZ"aQM" [ZN"XZQMN" [ZQ[" #"M[\]UN]+""

9CC""

2'"&.+-!N"*!0'2.,-.-,!&#'!

K.d$0+!#+12'*!&#'!#'3.f!$2!$!

".("13$&.-,!('Y'('-"'!

"

+#$(",-!$+"#&

#L" [ZN" XPNOUS\M" MNT[USLK" #" QUVN]" [S" ]NMTPUcN" QL]" UL[NPPS^Q[N" Q" YNa" SY" [ZN"TSRRQcSPQ[USLQR"TZQRRNL^NM"[ZQ["[ZN"TPSMMD]UMTUXRULQPW"]NMU^L"[NQV"SY"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"N`XNPUNLTN]K" UL"[ZN"YUPM["XZQMN"SY" [ZN"<UbQ]S"2S\MN"XPSdNT[+"#L"[ZUM"MNT[USLK"[ZN"YST\M"UM"PQ[ZNP"SL"ZSa"TNP[QUL"PNM\R[M"YPSV"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL" aQM" cPS\^Z[" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" QM" Q" VNQLM" [S"M\XXSP["QL]"N`XRSPN"U[+"""%ZN" M[SPW" \LYSR]M" ZSa" [ZN" VN[QXZSP" SY" Q" ZNRU`" TQVN" [S" YSPV" Q" XSUL[" SY"

PNYNPNLTN" UL" [ZN"XPSTNMM"SY"]NMU^LUL^K" QL]"ZSa" [ZUM" PNYNPNLTN" MNNVN]" [S" n[PQONRHK"[ZPS\^ZS\["[ZN"TS\PMN"SY"[ZN"XPSdNT[+"2NPNK"#"QUV"[S"URR\M[PQ[N"QL]"]UMT\MM"aZQ["[ZN"ZNRU`"PNYNPPN]"[SK"QL]"[ZN"OQPUS\M"YSPVQ[M"[ZQ["U["[SSb"SL+"#L"MZSP[K"aN"VU^Z["MQW"[ZQ["[ZN" ZNRU`" cNTQVN" Q" PNXPNMNL[Q[UON" YSP" [ZN" RULb" cN[aNNL" SLN" SY" [ZN" YUPVHM"SP^QLU_Q[USLQR" QMXUPQ[USLM" l[S" cNTSVN" Q" !5.':*$&-$% +#60,.-2" QL]" !10'++N&,+1,/*,.6082" SP^QLU_Q[USLm" QL]" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" SL" [ZN" SLN" ZQL]K" QL]"[ZN"NVNP^NLTN"SY"Q"]NMU^L"MSR\[USLK"SL" [ZN"S[ZNP+" #L" [ZUM"aQW" U["MNT\PN]"TSZNMUSL"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"-NRSaK"#"N`XRSPN"[ZN"dS\PLNW"SY"[ZN"ZNRU`+"#"QMb"MNONPQR"h\NM[USLM"QRSL^"[ZN"aQWK"c\["[aS"MNNV"XQP[UT\RQPRW"TNL[PQR+"#L"[ZN"YUPM["QL]"XPN]SVULQL["XQP["SY" [ZN"MNT[USL"#"QMb1"2Sa"]U]"[ZN"ZNRU`"[PQONRK"QL]"ZSa"TS\R]"U["[QbN"SL"M\TZ"YSPVQ[Mo""

9C;""

"(\N"[S"MU^LUYUTQL["TZQL^NM"UL"[ZN"VQPbN["YSP"c\UR]UL^"]NMU^LK"[ZN"<UbQ]S"2S\MN"

XPSdNT[" aNL[" [ZPS\^Z" M\cM[QL[UQR" VS]UYUTQ[USLMK" QRSL^" [ZN" aQW+" -QMN]" SL" [ZNMN"TZQL^NMK"N`[NPLQR"ULONM[SPM"[SSb"SONP"[ZN"XPSdNT[K"QL]"[ZN"TSL]U[USLM"[ZQ["ULYSPVN]"[ZN"]NMU^L"XPSTNMM"[ZNPNcW"TZQL^N]+"#L"SP]NP"[S"VNN["[ZNMN"LNa"TSL]U[USLMK"]NMU^L"XPSTNMM" aQM" NONL[\QRRW" PNM[QP[N]K" aU[Z" LNa" XNSXRN" ULOSRON]" UL" [ZN" ]NMU^L" [NQV+"7U[Z" Q" cPQL]" LNa" ]NMU^L" [NQV" QL]" aU[ZS\[" [ZN" ^PS\X" SY" XPSTNMM" ]NMU^LNPM" [S"MNT\PN"[ZN"TSLLNT[USL"cN[aNNL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZN"NVNP^NLTN"SY"[ZN"]NMU^L"MSR\[USLK"TNL[PQR"XQP[M"SY" [ZN"SPU^ULQR"]NMU^L"TSLTNX["VU^Z[" [Z\M"cN"MQU]" [S"ZQON" cNNL" RNY[" cNZUL]+" -\[" QR[ZS\^Z" [ZN" ZNRU`" ]U]" LS[" QM" M\TZ" M\POUON" [ZN"M\cM[QL[UQR" TZQL^NM" [ZN" XPSdNT[" aQM" M\cdNT[N]" [S" UL" [ZN" MNTSL]" XZQMNK" U[" MNNVM"PNRNOQL[" [S" QMb1"7ZW"]U]" [ZN"ZNRU`" M\PPNL]NPK" QL]" QRMS1"*S\R]" U[" XS[NL[UQRRW"ZQON"NL]\PN]o"""#L"[ZUM"MNT[USLK"TSLTNX[M"[ZQ["]NPUON"YPSV"n.T[SPDLN[aSPb"[ZNSPWH"ZQON"MNPON]"QM"

Q"XPUVQPW"MS\PTN"SY"ULMXUPQ[USL+"2NPNK"#"ZQON"XQP[UT\RQPRW"RSSbN]"UL[S"[ZN"TSLTNX[M"SY"TUPT\RQ[UL^"PNYNPNLTNM"l5Q[S\P"!AAAK"9EEBmK"ULMTPUX[USLM"QL]"ULMTPUX[USL"]NOUTNM"l.bPUTZ"!AA?K"5Q[S\P"!AAAK"3R^QQP]"JNLMNL"9EEFm+"""

)("8&'*($+!+'*$+"#&$"&,%4+0#&'("!%441&)("8&8%$*'2"(&$"&(%)%(%#!%&

.M" aN" bLSa" YPSV" [ZN" XPNOUS\M" MNT[USLK" [ZN" OQPUS\M" NL]" \MNP" XQP[UTUXQ[USL"QT[UOU[UNM"XPS]\TN]"Q"TSVXRN`"S\[TSVN"[ZQ["[ZN"]NMU^L"[NQV"Q[[NVX[N]"[S"\MNK"QM"Q"VNQLM"[S"RQ\LTZ"QL]"bNNX"\X"[ZN"XPSTNMM"SY"]NMU^LUL^+"-\["QM"aN"ZQON"MNNL"QcSONK"[ZN" ]NMU^L" [NQV" M\YYNPN]" MNONPN" ]UYYUT\R[UNMK"aU[Z" PN^QP]M" [S" ^N[[UL^" [ZNMN" PNM\R[M"[PQLMRQ[N]+" 6S" ZSa" ]U]" MSVN" SY" [ZN" VQ[NPUQR" XPS]\TN]" cW" [ZN" NL]" \MNP"PNXPNMNL[Q[UONM"QY[NP"QRR"YUL]"U[M"aQW"UL[S"[ZN"]NMU^L"XPSTNMMo""

9CF""

)H!&45!75@C>=@!G76P!=45!?97=;A;?9=;6:!9A=;B;=;5@*!;>>C@=79=;6:@!

F@L5=A45@!9:M!;M59@J!6:!?6@=57@!

#L" Q" L\VcNP" SY" XQP[UTUXQ[USL" aSPbMZSXMK" QL" N`[NL]N]" ^PS\X" SY" NL]" \MNP"PNXPNMNL[Q[UONM" ]UMT\MMN]" OQPUS\M" UMM\NM" [ZQ[" PN^QP]N]" [ZN" MXQ[UQR" SP^QLU_Q[USL" SY".PbU[NVQHM"XPSYNMMUSLQR"XPQT[UTNK"UL"SP]NP"[S"XPS]\TN"U]NQM"[S"ULYSPV"[ZN"]NMU^L"SY"[ZN" YSP[ZTSVUL^" c\UR]UL^+" %ZN" N`NPTUMNM"aNPN" cQMN]" SL" TSLONPMQ[USLM" UL" ^PS\XMK"QL]"NQTZ"N`NPTUMN"NL]N]"aU[Z"Q"XRNLQPW"MNMMUSLK"UL"aZUTZ"[ZN"VQUL"XSUL[M"YPSV"[ZN"]UMT\MMUSLM"aNPN"cPS\^Z["YSP[Z+""".M"[ZN"TRUNL["SP^QLU_Q[USL"UL"[ZUM"TQMN"aQM"QL"QPTZU[NT[\PQR"YUPV"l.PbU[NVQmK"[ZN"

PNM\R[M" YPSV" [ZN" XRNLQPW" MNMMUSLM" SY[NL" [NL]N]" [S" TSL[QUL" ]PQaUL^M" QL]" VS]NRM"PQ[ZNP"[ZQL"N`[NL]N]"QVS\L[M"SY"[N`[+"2NPNK"U["aQM"SY[NL"Q"VN[QXZSP"[ZQ["YSPVN]"Q"XSUL[" SY" ]NXQP[\PN" UL" [ZN" XPNMNL[Q[USLM1" !+/,06*+2" SP" !7605$"% /*61$+2" [ZQ["URR\M[PQ[N]"OQPUS\M"SP^QLU_Q[USLQR"MN[[UL^M"UL"[ZN"YUPV"QL]"[ZQ["aNPN"QTTSVXQLUN]"cW"MZSP[K"aPU[[NL" N`XRQLQ[USLM+" %ZNMN" XSM[NPM" aNPN" M\cMNh\NL[RW" \MN]" cW" [ZN" ]NMU^L"[NQV"UL"[ZNUP"NYYSP[M"[S"RQ\LTZ"QL]"bNNX"\X"[ZN"XPSTNMM"SY"]NMU^LUL^+"%ZN"XPSTNMM"SY"[PQLMRQ[UL^"[ZN"VQ[NPUQR"[ZQ["aQM"XPS]\TN]"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"VU^Z["ZQON"cNNL" ]UYYUT\R[" YSP" [ZN" ]NMU^L" [NQV" [S" ZQL]RNK" c\[" [ZN" XSM[NPM" aNPN" [QL^UcRN" QL]"URR\M[PQ[UON+"#L"[ZUM"aQWK"[ZN"PNM\R[M"YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TQL"cN"MQU]"[S"ZQON" aSPbN]" QM" TNL[PQR" XSUL[M" SY" ]NXQP[\PN" YSP" NM[QcRUMZUL^" [ZN" ]NMU^L" XPSTNMM+"%ZNW" VQ]N" \X" Q" TNL[PQR" MS\PTN" UL" [ZN" ]NMU^L" [NQVHM" Q[[NVX[M" [S" NM[QcRUMZ" [ZN"XPSTNMM"SY"]NMU^LUL^+"7U[Z" PNYNPNLTN" [S" [ZN" QTT\V\RQ[N]"NVXUPUTQR"VQ[NPUQR" YPSV"[ZN"TQMNK"U["MNNVM"[ZQ["Q"YNa"SY"[ZNMN"VN[QXZSPM"YSPVN]"PNYNPNLTNMK"aZUTZ"bNX["[ZN"]NMU^L"XPSTNMM"^SUL^K"]NMXU[N"SY"[ZN"]NMU^L"[NQVHM"TSRRQcSPQ[UON"]UYYUT\R[UNM+""".M" VNL[USLN]" QcSONK" [ZN" VN[QXZSP" SY" Q" ZNRU`" PNXPNMNL[N]" SLN" SY" [ZNMN"

PNYNPNLTNM+" .M" aURR" cN" URR\M[PQ[N]" QL]" ]UMT\MMN]" cNRSaK" [ZUM" XQP[UT\RQP" PNYNPNLTN"MNNVN]" [S" [PQONR" [ZPS\^ZS\[" [ZN" YUPM["XZQMN"SY" [ZN"XPSdNT[+" #[" M[QP[N]"S\[" QM" Q" YNa"ONPMUSLM"SY"Q"MUVURQP"VS]NR"XPS]\TN]"UL"[ZN"ULU[UQR"XQP[UTUXQ[USL"aSPbMZSXM"lQ["YUPM["PNYNPPN]"[S"QM"Q"!+/,06*2mK"QL]"TSL[UL\N]"[S"ULYSPV"]UYYNPNL["QMXNT[M"SY"[ZN"]NMU^L"MSR\[USL"UL"[ZN"M\cMNh\NL["XPSTNMM+".M"[UVN"QL]"]NMU^L"Q[[NVX[M"aNL["cWK"[ZN"LQVN"TSLONP^N]" YPSV" !+/,06*2" [S" !#$*,<2K" QL]" [ZPS\^Z" N`[NL]N]" XPSTNMMNM" SY"[PQLMRQ[USLM"QL]"LN^S[UQ[USLMK"[ZN"ZNRU`"[SSb"SL"Q"L\VcNP"SY"YSPVMK"aU[Z"PN^QP]M"[S"[ZN"N`[NPUSP"QM"aNRR"QM"[ZN"UL[NPUSP"]NMU^L"SY"[ZN"ZS\MN+""

9CB""

OH!&45!:6=;6:!6G!9!75G575:A5*!;M59@!=49=!A;7AC>9=5!;:!A6:=;:C6C@!

?76A5@@5@!6G!A49:85!

#L"VW"Q[[NVX[M"Q["N`XRQULUL^"ZSa"[ZN"ZNRU`"aQM"NM[QcRUMZN]"QM"Q"^NLNPQR"XSUL["SY"PNYNPNLTN"UL"[ZN"]NMU^L"XPSTNMMK"#"ZQON"cNNL"ULMXUPN]"cW"Q"YNa"XQP[UT\RQP"TSLTNX[M"aU[ZUL"QT[SPDLN[aSPb" [ZNSPW+"&NTQRRUL^" [ZN"^NLNPQR"S\[RULN"SY" [ZUM"VN[ZS]SRS^UTQR"QXXPSQTZ" lTY+" MNT[USL" 9*mK" U[" UM" TSLTNPLN]" aU[Z" ZSa" PNQRU[W" UM" MZQXN]" QL]"TSL[UL\S\MRW"NVNP^NM" [ZPS\^Z" [ZN" PNRQ[USLMZUX"cN[aNNL" [ZN"qQT[SPMr" [ZQ[" YSPV" U[M"TSLM[U[\[USL+" #L" [ZN"<UbQ]S"2S\MN" XPSdNT[K" Q" RS[" SY" TSVXSLNL[M"aNPN" Q[" M[QbN" QM"XS[NL[UQR"TSLM[U[\NL[M1"]PQY[Mg"]UQ^PQVMg"MbN[TZNMg"YSQV"VS]NRMg"QPTZU[NT[Mg"XPSTNMM"]NMU^LNPMg" NL]" \MNP" PNXPNMNL[Q[UONMg" aPU[[NL" ]ST\VNL[Mg" cSSbMg" VQ^Q_ULNMK" QL]"VSPN+"#["UM"UL"[ZN"PNRQ[USLMZUX"cN[aNNL"M\TZ"QT[SPM"[ZQ["[ZN"TSZNPNLTN"cN[aNNL"[ZN"XPSdNT[HM"ULU[UQR"QMXUPQ[USLMg"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMg"[ZN"PNM\R[M"[ZQ["[ZNMN"cPUL^K"QL]" [ZN" YULQR" ]NMU^L" MSR\[USLK" PNMU]N+" -\[" UL" SP]NP" [S" ]UMTSONP" [ZN" LN[aSPbM" [ZQ["[ZNMN" PNRQ[USLMZUXM" YSPVK"aN"LNN]" [S" [PQTN" [ZNUP" QT[SPM" QL]" [ZN"aQW" [ZNW" MNNV" [S"QMMSTUQ[N+"""#L" [ZN" XPSTNMM" SY" QLQRW_UL^" [ZUM"VQ[NPUQRK" #" ZQON" Q[[NVX[N]" [S" PNTSLM[P\T[" [ZN"

dS\PLNW" SY" [ZN" ZNRU`K" M\XXSP[N]" cW" Q" YNa" TNL[PQR" .$%DTSLTNX[M1" [PQLMRQ[USLK"TUPT\RQ[USL" QL]" ULMTPUX[USLM+" -NRSaK" #" QUV" [S" ]UMT\MM" ZSa" [ZN" ZNRU`" MNNVN]" [S"M\POUON" QM" Q" V\[\QR" PNYNPNLTN" UL" [ZUM" XZQMN" SY" [ZN" XPSdNT[1" #[" [PQONRN]" QM" Q"qTUPT\RQ[UL^"PNYNPNLTNr"l5Q[S\P"!AAAK"TY+"9*mK"aZUTZ"TZQL^N]"SP"VSON]K"QTTSP]UL^"[S"[ZN"PNRQ[USLQR"QT[UOU[UNM"U["aQM"M\cdNT[N]"[SK"c\["M[URR"bNNXUL^"U[M"cQMUT"MZQXN+"%ZN"X\PXSMN"SY"cPUL^UL^"[ZUM"TSLTNX[\QR"U]NQ"UL[S"XRQW"UM"LS["SLRW"[S"URR\M[PQ[N"ZSa"[ZN"XPSdNT["NVNP^N]"QM"QL"QPTZU[NT[\PQR"]NMU^L"PNXPNMNL[Q[USL+".RMSK"U["UM"QL"Q[[NVX["[S"URR\M[PQ[N" ZSa" [ZN" XS[NL[UQR" RULb" cN[aNNL" QPTZU[NT[\PQR" QL]" SP^QLU_Q[USLQR" ]NMU^L"QMXNT[M"aQM"N`XRSPN]K"UL"[ZN"TS\PMN"SY"[ZN"XPSdNT[+"2NPNK"[ZN"ZNRU`"TQL"cN"MNNL"QM"QL"QPTZU[NT[\PQR" QLMaNP" [S" QL" SP^QLU_Q[USLQR" XPScRNV+" .M" VNL[USLN]" QcSON" UL" [ZN"UL[PS]\T[USL"[S"[ZUM"MNT[USLK"[ZN"<UbQ]S"2S\MN"XPSdNT["VU^Z["cN"MQU]"[S"ZQON"cNNL"SLN" SY" [ZN" YUPVHM" ONZUTRNM" [S" MNPON" Q" RQP^NP" X\PXSMN1" [S" cNTSVN" Q" !5.':*$&-$%+#60,.-2" QL]" !10'++N&,+1,/*,.6082" SP^QLU_Q[USL+" #L" [ZN" YSRRSaUL^K" #" QUV" [S"URR\M[PQ[N"ZSa"[ZN"ZNRU`"MNNVN]"[S"QLMaNP"M\TZ"QMXUPQ[USLM+".RSL^"[ZNMN"RULNMK" [ZN"\MN"SY"[ZN"ZNRU`"VN[QXZSP"QM"Q"aSPb"[SSR"VU^Z["QRMS"URR\M[PQ[N"SLN"XQP[UT\RQP"Q[[NVX["Q["!10'++N&,+1,/*,.6082" TSRRQcSPQ[USL" [ZQ[" [SSb" XRQTN" cN[aNNL" QL" QPTZU[NT[" QL]" Q"XPSTNMM"]NMU^LNP"UL"[ZN"]NMU^L"[NQV+""""

9C?""

"%ZN" M[SPW" SY" [ZN" ZNRU`" URR\M[PQ[NM" ZSa" PNM\R[M" YPSV" [ZN" NL]" \MNP" XQP[UTUXQ[USL"

QT[UOU[UNM" aNPN" cPS\^Z[" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" QM" QL" ULX\[+" %ZUM"TSVXRN`"TUPT\RQ[USL"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"YNQ[\PNM"]NMTPUcN"[ZN"ZNRU`H" PNYNPNL[UQR" TQXQTU[WK" QL]" VU^Z[" [Z\M" cN" MQU]" [S" PNXPNMNL[" Q" nTSLLNT[USLH"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"2SaNONPK"[ZN"M[SPW"QRMS"MNPONM"QM"QL"N`QVXRN"SY"ZSa"PNYNPNLTNM"cPNQb"UY"[ZNW"QPN"LS["VQUL[QULN]+"7ZNL"[ZN"PNYNPNLTN" SY" [ZN" ZNRU`" cPSbNK" [ZN" RULb" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM" QRMS"MNNVN]"[S"YQRR+""

$2%&@"-(#%6&")&$2%&2%3+:1&)("8&/#"53%,0%&42*(+#0&"#5*(,4&

%ZN"XPSTNMM"SY"QLQRW_UL^"[ZUM"NVXUPUTQR"VQ[NPUQR"VU^Z["cN"MQU]" [S"ZQON"cNNL"Q"MNQPTZ"YSP"[ZN"ZNRU`1"%S"N`XRSPNK"URR\M[PQ[N"QL]"]UMT\MM"[ZN"]NMU^L"XPSTNMM"QM"RULbM"UL"Q"TZQUL"SY"QMMSTUQ[USL"[ZPS\^Z"[ZN"OQPUS\M"YSPVQ[M"[ZQ["[ZN"ZNRU`"[SSb"SL+"#"MNQPTZN]"YSP"aZNPN" U["TQVN"YPSV"QL]"aZNPN" U[" MNNVN]" [S"cN"^SUL^+"%ZN"ZNRU`"VSON]"YPSV"SP^QLU_Q[USLQR" QMXUPQ[USLM" [S" QPTZU[NT[\PQR" TSLTNX[Mg" MXQ[UQR" RQWS\[Mg" aSPb"XPSTNMMNMK" QL]" c\MULNMM" M[P\T[\PNM+" " (UQ^PQV" A" cNRSa" URR\M[PQ[NM" YUON" ]UYYNPNL["ONPMUSLM" [ZQ[" [ZN"ZNRU`" MNNVN]" [S"^S" [ZPS\^Z" UL" [ZN" TS\PMN"SY" [ZN"<UbQ]S"2S\MN"XPSdNT[1" YPSV" Q" ]ST\VNL[" SY" SP^QLU_Q[USLQR" QMXUPQ[USLM" UL" [ZN" RNY[" ONPMUSL"l!5.':*$&-$% +#60,.-2" QL]"!10'++N&,+1,/*,.6082" QL]"VSPNmg" [S" [ZN" MXUPQRIZNRU`" SY"T\PON]" RSSXM" [ZQ[" PNXPNMNL[N]" ]NMU^L" PNXPNMNL[Q[USLM" SY" [ZN"<UbQ]S" 2S\MN" QM" Q"c\UR]UL^" TSLM[P\T[USLg" [S" [ZN" ]S\cRN" ZNRU`" SY" [aS" T\PON]" RSSXM" [ZQ[" Y\P[ZNP"]NONRSXN]"[ZN"ULU[UQR"]NMU^L"TSLTNX[g"[S"[ZN"<QP^\NPU[N"PS\[N"[ZQ["YSPVN]"Q"TSLTNX["YSP" M[P\T[\PUL^" [ZN" UL[NPUSP" RQWS\[" SY" [ZN" c\UR]UL^+" =ULQRRWK" [ZN" UVQ^N" [S" [ZN" PU^Z["URR\M[PQ[NM".PbU[NVQHM"LNa"c\MULNMM"M[P\T[\PNK"aZUTZ"aQM"]NONRSXN]"XQPQRRNR"[S"[ZN"]NONRSXVNL[" SY" [ZN" YUPM[" XZQMN" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[+" %ZUM" M[P\T[\PN"\L]NPRULN]"[ZN"QPTZU[NT[\PQR"XPS]\T[USL"XPSTNMM"QM"TUPT\RQPK"U[NPQ[UON"QL]"PNTUXPSTQR+"%ZN"RQ[[NP"aURR"LS["cN"N`XRSPN]"UL"[ZUM"[ZNMUMK"c\["UM"VNL[USLN]"ZNPN"QM"SLN"RULb"UL"[ZN" TZQUL" SY" QMMSTUQ[USL" [ZQ[" [ZN" ZNRU`" MNNVN]" [S" PNXPNMNL[+" " -NRSaK" #" QUV" [S"URR\M[PQ[N" QL]" ]UMT\MM" Q" YNa" QMXNT[M" [S" [ZN" PNRQ[USLMZUX" cN[aNNL" [ZN" YUPM[" YS\P"ONPMUSLM"SY"[ZN"]UQ^PQV+""

9C,""

"3GHIJHK'a"URR\M[PQ[NM"YUON"ONPMUSLM"[ZQ["[ZN"ZNRU`"MNNVN]"[S"^S"[ZPS\^ZK"UL"[ZN"TS\PMN"SY"[ZN"YUPM["XZQMN"SY"[ZN"

<UbQ]S"2S\MN"XPSdNT[+""

"".M" YSP"aZNPN" [ZN" ZNRU`" QT[\QRRW" TQVN" YPSVK" #" ZQON" cNNL" [ZPS\^Z"VSM[" SY" [ZN"

QOQURQcRN"NVXUPUTQR"VQ[NPUQR" UL"[ZN"TQMNK" UL"SP]NP"[S"YUL]"QLMaNPM"[S"[ZUM"h\NM[USL+".M"UL]UTQ[N]"UL"[ZN"UL[PS]\T[USL"[S"[ZUM"MNT[USLK"#"ZQON"YS\L]"[ZQ["TNP[QUL"Q]dNT[UONM"aNPN"PNXNQ[N]K"QM"Q"VNQLM" [S"]NMTPUcN".PbU[NVQHM"QMXUPQ[USLM"QL]"aU[Z"PN^QP]M" [S"[ZN" YUPVHM" Y\[\PN" XPQT[UTN+" 2NPNK" YNQ[\PNM" RUbN" !5.':*$&-$% +#60,.-2K" !10'++N&,+1,/*,.608% 1'**6)'06",'.2" QL]" !;,+,),*,"82" QPN" c\[" Q" YNa" SY" [ZN" [NPVM" [ZQ[" QPN"YPNh\NL[RW"PNXNQ[N]+"%ZNMN"QMXUPQ[USLM"QXXNQPN]" UL" ULU[UQR"]ST\VNL[M" [ZQ["S\[RULN]"[ZN" <UbQ]S" 2S\MN" XPSdNT[K" QM" TZQPQT[NPUM[UTM" SY" aZQ[" [ZN" LNa" c\UR]UL^" aQM"N`XNT[N]"[S"NLZQLTN"QL]"PNXPNMNL[+"2NPNK"[ZN"XPSdNT["aQM"]NMTPUcN]"QM"Q"VNQLM"[S"QTTSVVS]Q[N" [ZN" YUPVHM" Y\[\PN"aQW"SY"aSPbUL^+".M" U[" UM" ]NMTPUcN]" UL" SLN"SY" [ZN"NQPRW"UL[NPLQR"]ST\VNL["[ZQ["XPNMNL[N]"[ZN"U]NQ"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[1"""qM$% :6."% "'% :'05% /0'F$1"% '0,$."$&% 6.&% 10'++N&,+1,/*,.60,*8% I,."$0.6**8% 6.&%

$<"$0.6**8KA%M$%:6."% "'%&$;$*'/% +/$1,6*% 1'7/$"$.1,$+%6.&% $</$0"+% "#6"% 16.%:'05%610'++%"#$%@,07%6"%*60-$A%M$%:6."%"'%,.10$6+$%"#$%0$;$.($A%M$%:6."%"'%+8+"$76",B$%'(0% 5.':*$&-$% )6+$% O% I5.':*$&-$% 1'7/,*6",'.9% 5.':*$&-$% +#60,.-9% 5.':*$&-$%10$6",'.K2"""%ZUM" YST\M" SL" TSVV\LUTQ[UL^" QTPSMM" MNNVN]K" LS[" SLRW" [S" cN" PNXNQ[N]" VQLW"

[UVNM" UL" OQPUS\M" aPU[[NL" ]ST\VNL[MK" c\[" QRMS" UL" YSPVQR" MXNNTZNMK" SP^QLU_N]"aSPbMZSXM" QL]" ULYSPVQR" TSLONPMQ[USLM" #"aQM" ULOSRON]" UL" [ZPS\^ZS\[" [ZN" XPSdNT[+".RMSK" QL]" VSPN" UVXSP[QL[RWK" U[" QXXNQPN]" UL" MNONPQR" XZWMUTQR" ONPMUSLM+" #L" [ZN"YSRRSaUL^K" #"aURR"]NMTPUcN" [ZN" dS\PLNW"SY" [ZN"ZNRU`"QM" #"ZQON"cNNL"QcRN" [S" [PQTN" U[+"2NPNK" U[M" PSRN" QM" Q" PNXPNMNL[Q[UON" YSP" [ZN" !5.':*$&-$% +#60,.-2" QL]" !10'++N&,+1,/*,.6082"SP^QLU_Q[USL"aURR"cN"XPSOUMUSLQRRW"]UMT\MMN]+""

9CA""

)H!&45!X;>:;C@!D67L@46?@!

#L"SP]NP"[S"N`XRSPN"[ZN"dS\PLNW"SY"[ZN"ZNRU`K"#"aURR"YUPM["PN[\PL"[S"[ZN"XQP["SY"[ZN"NVXUPUTQR"VQ[NPUQR"[ZQ["PNXPNMNL[".PbU[NVQHM"[NQVc\UR]UL^"[PUX"[S"GURLU\M+"2NPNK"[ZN"M[QYY" Q[" RQP^N" NL^Q^N]" UL" RNL^[ZW"aSPbMZSX" ]UMT\MMUSLM" [ZQ[" PN^QP]N]" [ZNUP" aSPb"XPSTNMMNM" QL]" PNRQ[USLMZUXM" UL" Q" MXQ[UQR" XNPMXNT[UONK"aZURN" [ZNW" Q[" [ZN" MQVN" [UVN"XPS]\TN]"TSLTNX[\QR" U]NQM" QL]" MbN[TZNM" [S" ULYSPV"Q"]NMU^L"XPSXSMQR" YSP" [ZN"LNa"ZS\MN+"%ZN"[PUX"T\RVULQ[N]"UL"QL"N`ZUcU[USL"SL"[ZN"RQM["NONLUL^K"aZNPN"Q"L\VcNP"SY"]NMU^L" XPSXSMQRM" [ZQ[" aNPN" XPS]\TN]" cW" [ZN" [NQVM" SY" QPTZU[NT[MK" aZS" ZQ]"XQP[UTUXQ[N]"UL"[ZN"aSPbMZSXMK"aNPN"]UMXRQWN]+"""(\PUL^" [ZN" TS\PMN" SY" [ZUM" NONLUL^K" #" ZQ]" MNONPQR" ULYSPVQR" TSLONPMQ[USLM"aU[Z"

M[QYY" QTPSMM" [ZN" YUPV" QcS\[" [ZN" YQT[" [ZQ[" VSM[" SY" [ZN" XPSXSMQRM" UL" [ZN" N`ZUcU["ULOSRON]"[ZN"YSPVQ["SY"Q"MXUPQRK"QM"QL"QXXQPNL["MS\PTN"SY"ULMXUPQ[USL+".M"U["MNNVN]K"[ZN" VQUL" M[P\T[\PN" [ZQ[" TZQPQT[NPU_N]" MNONPQR" SY" [ZNMN" XPSXSMQRM" QM" QPTZU[NT[\PQR"TSLTNX[MK" ULOSRON]" Q" MNPUNM" SY" T\PON]" RSSXM+"2NPNK" [NPVM" M\TZ" QM"!,."$0+$1",'.29%!7$$",.-N/*61$29% !,."$0@61$29% !$<1#6.-$29% !7'),*,"8N/6""$0.29% !.'.N#,$0601#,16*29% !;$0",16*,"82K" aNPN" NVXZQMU_N]" UL" [ZN" ]NMTPUX[UON" XQP[" SY" [ZN"XPSXSMQRM+" %aS" ]UPNT[RW" \MN]" [ZN" aSP]" !+/,06*2" QM" Q" TNL[PQR" TSLTNX[\QR" U]NQ" [S"YSPV"[ZN"]NMU^L"XPSXSMQRK"aZURN"[ZPNN"XPSXSMQRM"\MN]"VN[QXZSPM"RUbN"!"#$%7o),(+%+"0,/2"SP"!"#$%16":6*52"[S"XPNMNL["[ZN"XPSXSMQRMH"XPUVQPW"U]NQM+"%ZN"YSRRSaUL^"[N`["PNXPNMNL[N]"XPSXSMQR"LP+"F1"""!D$."06*%1'.1$/"+%6.&%,&$6+Q%!! E/,06*b%,."$0+$1",'.%6.&%';$0*6/%"'%10$6"$%+/$1,6*%/*61$+%!! n''/%6.&% 1,01(*6",'.% 06"#$0% "#6.%)$-,..,.-%6.&% $.&9% "#$%7';$7$."% '@% "#$%#$*,<% 0$@*$1"+% :'05% /0'1$++$+% "#6"% 60$% ,."$-06"$&9% 6% X*6.&+16/$49% 6.&% .'"%*,.$60%=>?%

!! R(*",@60,'(+%*'16",'.+%6.&%:'05%+,"(6",'.+%!! R';$7$."%"#0'(-#%"#$%#'(+$b%"#6"%8'(%-$"%X@'01$&4%"#0'(-#%,"9%7'0$%'/",'.+%"'%-$"%60'(.&%=>?%%

!! E/6",6*,",$+%6.&%:'05%/0'1$++$+%,.%6%1,01(*60%7';$7$."%!! P% ",-#"% @616&$% +8+"$7% "#6"% ,+% ,.% &,6*'-($% :,"#% "#$% 1'."$<"% O% @'07+% "#$%@067$:'05%60'(.&%"#$%&,++'*;$&%@*''0%+"0(1"(0$+%=>?2%

"

9;E""

%ZN"VQdSPU[W"SY" [ZN"XPSXSMQRM" MNNVN]K" UL"SLN"aQW"SP" [ZN"S[ZNP" [S" ULTR\]N" [ZN"ZNRU`K"NU[ZNP"UL"[ZN"VS]NR"SP"UL"[ZN"QTTSVVS]Q[UL^"[N`[+"-\[".PbU[NVQHM"QMXUPQ[USLM"YSP" Q" Y\[\PN" XPQT[UTN" QRMS" TQVN" YSP[Z" UL" [ZNMN" PNXPNMNL[Q[USLM" lN+^+" !5.':*$&-$%+#60,.-2" QL]" !10'++N&,+1,/*,.608% 1'**6)'06",'.2m+" 2NPNK" [ZN" XPSXSMQRMH" QXXQPNL["UL[NPNM["UL"X\PM\UL^"[ZN"SXXSP[\LU[W"[S"VSON"QPS\L]"[ZN"ZS\MN"QL]"[S"TSVV\LUTQ[N"QTPSMM"MNNVM"[S"TSL[UL\N+"#L"XPSXSMQR"LP+"F"QcSONK"aN"TQL"MNN"ZSa"[ZNMN"QMXUPQ[USLM"aNPN" ]NMTPUcN]" QM" Q" XZWMUTQR" XPNMM\PN1" q8'(% -$"% X@'01$&4% "#0'(-#% ,"2+" 2NPNK" [ZN"TUPT\RQP" MZQXN" MNNVM" [S" cN" XNPTNUON]" QM" SLN" [ZQ[" M\XXSP[M" [ZN" STT\PPNLTN" SY"VNN[UL^MK"MZQPUL^"QL]"TSRRQcSPQ[USL"QTPSMM+"3ONL" UL" [ZN"]NMTPUX[UON" UL]UTQ[USLM"SY"[ZN" YQTQ]N" MWM[NVK" [ZN" TSVV\LUTQ[USLQR" QVcU[USL" MNNVM" [S" M[UTbK"aZNPN" [ZN" RULb"cN[aNNL"[ZN"c\UR]UL^HM"N`[NPLQR"YNQ[\PNM"l[ZN"YQTQ]Nm"UM"MNNL"QM"!,.%&,6*'-($%:,"#%"#$%1'."$<"21"aU[Z"[ZN"SP^QLU_Q[USLQR"XPQT[UTN"UL"[ZN"ZS\MN+"""

OH!%97=;A;?9=;6:!9A=;B;=;5@!9@!;:@A7;?=;6:!M5B;A5@!

7ZQ["UM"Q["M[QbN"ZNPNo"#L"SP]NP"[S"\L]NPM[QL]"VSPN"QcS\["[ZN"NM[QcRUMZVNL["SY"M\TZ" Q" PNYNPNLTNK" aN" VU^Z[" [\PL" [S" [ZN" UL[NPQT[UON" aSPbMZSXMK" aZUTZ" aQM" Q"XQP[UTUXQ[USL"QT[UOU[W"[ZQ["aQM"QT[UONRW"\MN]"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[+"&NTQRRUL^"[ZN" TSLTNX[" SY" qULMTPUX[USL" ]NOUTNMr" lTY+" MNT[USL" 9*mK" [ZUM"VU^Z[" ZNRX" [S" N`XRQUL"M\TZ" QL" QT[UOU[W1" QM" Q" ONZUTRNK" [ZPS\^Z"aZUTZ" LNa"VQ[NPUQR" [S" TQL" cN" XPS]\TN]+"2NPNK" [ZN" YPQVNaSPb" [ZQ["TSLM[U[\[NM" [ZN"aSPbMZSXM" lN+^+" N`NPTUMNM"QL]"h\NM[USLM"QL]"S[ZNP"ONZUTRNMm"PNXPNMNL[M"Q"LN[aSPb"SY"qULMTPUX[USLMr"[ZQ["M[QcURU_N"U[K"UL"SP]NP"[S"cN"qULMTPUcN]r"SP"cPS\^Z["UL[S"[ZN"]NMU^L"XPSTNMM+".M"Q"XQP["SY"NM[QcRUMZUL^"[ZUM"]NMU^L"XPSTNMM" [ZPS\^Z"OQPUS\M"XQP[UTUXQ[USL"QT[UOU[UNMK" U[" MNNVM" [ZQ[" Q"L\VcNP"SY"SP^QLU_Q[USLQR" QMXUPQ[USLM" lYSP" N`QVXRN" [S" cNTSVN" Q" !5.':*$&-$% +#60,.-2" QL]"!10'++N&,+1,/*,.6082" SP^QLU_Q[USLm" aNPN" QRPNQ]W" ULMTPUcN]" UL[S" [ZN" XPSTNMM" QM"XSMMUcRN"XPSXSMQRM+"%ZN"N`NPTUMNM" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM" [ZNL"TSL[PUc\[N" [S"XPS]\TN" VQ[NPUQR" k" LNa" ULMTPUX[USLM+" #[" UM" UL" [ZUM" XPS]\T[UON" N`TZQL^N" [ZQ[" [ZN"LN[aSPb"SY"QT[SPMK"[ZQ["NONL[\QRRW"YSPV"[ZN"]NMU^L"MSR\[USLK"TQL"NVNP^N"QL]"SXNPQ[N"l.bPUTZ"!AA?K"5Q[S\P"!AAAm+"#L"[ZUM"XNPMXNT[UONK"MSVN"SY"[ZN"aSPbMZSX"PNM\R[M"[ZQ["aNPN"XPS]\TN]"UL"[ZN"GURLU\M"aSPbMZSXM"TQL"cN"MNNL"QM"QPTZU[NT[\PQR"PNMXSLMNM"[S"SP^QLU_Q[USLQR" QMXUPQ[USLM+" 2NPNK" XPSXSMQR" LP+" F" XSUL[N]" [S" [ZN" XS[NL[UQR" RULb"cN[aNNL"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"]UPNT[RW"cW"NVXZQMU_UL^"[ZQ["l[ZN"QPTZU[NT[\PQR"YSPVQ["SYm"[ZN"ZNRU`"PNYRNT[M"!:'05%/0'1$++$+%"#6"%60$%,."$-06"$&2" UL"!=7?(*",@60,'(+%*'16",'.+%6.&%:'05%+,"(6",'.+2+"""

9;!""

.bPUTZ" N`XRQULM" [ZQ[" aZNL" aN" ]NONRSX" LNa" ScdNT[M" SP" ]NMU^LMK" XQP[UT\RQP"OUMUSLM"QPN"cNUL^"ULMTPUcN]"uUL[S"[ZN"[NTZLUTQR"TSL[NL["SY"[ZN"LNa"ScdNT[u"l.bPUTZ"!AA91" 9E,m+" .^QULK" aN" VU^Z[" MNN" [ZN" QMXUPQ[USL" SY" [ZN" !5.':*$&-$% +#60,.-2" SP"!10'++N&,+1,/*,.6082" SP^QLU_Q[USLK"VNP^N]" UL[S" [ZN"<UbQ]S"2S\MN"XPSdNT[+"%ZNMN"QMXUPQ[USLM"aNPN"XPNMNL[N]"PNXNQ[N]RW"[ZPS\^ZS\["[ZN"XPSdNT[1"UL"[ZN"XZPQMUL^"SY"[ZN"aSPbMZSX"N`NPTUMNMg"UL"[ZN"OQPUS\M"aPU[[NL"]ST\VNL[Mg"UL"[ZN"TSL[UL\S\M"MXNNTZNM"cW"[ZN"<(g"UL"[ZN"X\cRUT"]NcQ[N"[ZQ["aNL["SL"Q[" [ZN"[UVNK"QL]"VSPN+"#L"[ZQ["aQWK"[ZNW"VU^Z["cN"MQU]"[S"ZQON"cNNL"ULMTPUcN]"UL[S"[ZN"XPSdNT["S\[RULN+""%ZNPN" QPN" MNONPQR" RQWNPM" UL" [ZUM" TSVXRN`+" %ZN" UL[NPQT[UON"aSPbMZSXM" YSPV" QL"

ULMTPUX[USL" ]NOUTN" SP" QL" QXXQPQ[\MK" [ZPS\^Z" aZUTZ" OQPUS\M" ULMTPUX[USLM" TQL" cN"YSPVN]K"aZUTZ"TQL"M\cMNh\NL[RW"ULYSPV"[ZN"]NMU^L"XPSTNMM+"-\["UL"[ZN"aSPbMZSXHM"cQMUT"TSLM[U[\[USL" lPNXPNMNL[N]" YSP"N`QVXRN"cW"[ZN" UMM\NM" PQUMN]" UL" [ZN"N`NPTUMNMmK"TNP[QUL" ULMTPUX[USLM"lYSP"N`QVXRN"OUMUSLM"SP"QMXUPQ[USLMm"QPN"QRPNQ]W"ULMTPUcN]"UL[S"U[K"QM"Q"XSUL["SY"]NXQP[\PN"UL"[ZN"XPSTNMM+"%ZNMN"QRPNQ]W"ULMTPUcN]"YQT[SPM"VU^Z[K"SL"[ZN"SLN"ZQL]"cN"MQU]"[S"ULYR\NLTN"[ZN"YSP[ZTSVUL^"ULMTPUX[USLM1"[ZN"PNM\R[M"XPS]\TN]"UL"[ZN"aSPbMZSXM+"2SaNONPK"[ZN"PNM\R[M"SP"LNa"ULMTPUX[USLM"VU^Z["QRMS"TSLONPMNRW"QYYNT[" [ZN" SP^QLU_Q[USLQR" OUMUSLM" SP" QMXUPQ[USLM+" 7ZNL" [ZN" XQP[UTUXQL[M" UL" [ZN"aSPbMZSXM" QPN" M\cdNT[N]" [S" TNP[QUL" N`NPTUMNM" SP" h\NM[USLMK" [ZNW" UVVN]UQ[NRW"\L]NP[QbN" Q" [PQLMRQ[USLK" UL" SP]NP" [S" TSVXPNZNL]"aZQ[" [ZN" [QMb" UM" QcS\[" QL]" ZSa"[ZNW"TQL"^S"QcS\["U[+"#L"[ZQ["aQW"aN"TQL"MQW"[ZQ["ULMTPUX[USLM"[PQONR"YSP[Z"QL]"cQTb"aZNL"M\cdNT[N]"[S"LNa"NONL[M+"'

TH!&45!45>;W*!A6:A5;B5M!G76P!=45!=5:M5:A;5@!D;=4;:!F9:M!

6C=@;M5!6GJ!=45!G;5>M!

.M" #"aQM" UL[NPNM[N]" UL"aZNPN" [ZN"ZNRU`" TQVN" YPSVK" #" QMbN]" [ZN".PbU[NVQ"M[QYY"QcS\["[ZN"TSLMUM[NL["QXXNQPQLTN"SY"[ZN"ZNRU`"UL"[ZN"]NMU^L"XPSXSMQRMK"UL"[ZN"ULYSPVQR"TSLONPMQ[USLM" #" NL^Q^N]" UL" SL" [ZN" RQM[" NONLUL^" UL" GURLU\M+" #" VSM[RW" ^S[" [ZN"YSRRSaUL^"PNXRW"SP"aSP]M" [S" [ZQ["NYYNT[1"!3"4+%:#6"%$;$08'.$%,.% "#$% @,$*&% ,+% ,."'%6"%"#$%7'7$."A%p(+"%*''5%6"%XP05,"$5"$.4%="#$%/0'@$++,'.4+%.6",'.6*%/$0,'&,16*?Q%"#$0$%60$%#$*,<$+%$;$08:#$0$%0,-#"%.':2+""".M"Q"TSLTNX[\QR"U]NQ"[ZQ["PNXPNMNL[N]"YNQ[\PNM"RUbN"TSRRQcSPQ[USL"QL]"]UQRS^\NK"

[ZN" ZNRU`" ]U]" LS[" SLRW" PNYRNT[" [ZN" T\PPNL[" ]UMTS\PMN" aU[ZUL" .PbU[NVQ+" #[" aQM"

9;9""

QXXQPNL[RW" QRMS" Q" ]NXUT[USL" SY" TSL[NVXSPQPW" [NL]NLTUNM" Q[" M[QbN" UL" [ZN" YUNR]" SY"QPTZU[NT[\PNK"Q["RQP^N+"#L"[ZUM"aQWK"aN"VU^Z["MQW"[ZQ["[ZN"TSLTNX["SY"Q"ZNRU`"YSPVN]"Q"PNYNPNLTN"[ZQ["PNQTZN]"ULaQP]M"k"[SaQP]M"[ZN"XPSYNMMUSL+"-\["Q["[ZN"MQVN"[UVNK"[ZN"SP^QLU_Q[USLQR"QMXUPQ[USLM" [ZQ[" [ZN"ZNRU`"MNNVN]"[S"PNYNP" [S"l!5.':*$&-$%+#60,.-2%N[T+mK" aNPN" QRMS" ONPW" V\TZ" XPNMNL[" UL" [ZN" X\cRUT" ]NcQ[N" Q[" [ZN" [UVNK" QM" ^NLNPQR"MSTUN[QR"[NL]NLTUNM+"""

]H!&45!45>;W*!9!?6;:=!6G!75G575:A5!;:!9!A49;:!6G!9@@6A;9=;6:@!

.R[ZS\^Z" [ZN" <UbQ]S" 2S\MN" XPSdNT[" QM" Q" ]NMU^L" XPSTNMM" aQMLH[" YSPVQRRW"RQ\LTZN]" \L[UR" QY[NP" [ZN" PN[\PL" YPSV"GURLU\MK" [ZN" XPSdNT[" TRNQPRW" \MN]" [ZN"GURLU\M"aSPbMZSXM"QM"Q"VNQLM" [S"bUTbDM[QP[" [ZN"XPSdNT["QM"Q"TSRRNT[UON"ONL[\PN+" #L"GURLU\M"[ZN" YUPV" Q[" RQP^N" aQM" ULOSRON]+" 3ONPWSLN" ZNQP]" [ZN" MXNNTZNMg" NONPWSLN" aQM"NL^Q^N]" UL" [ZN" N`NPTUMNMK" QL]" NONPWSLN" aQM" XPS]\TUL^" U]NQM" [S" ULYSPV" [ZN"YSP[ZTSVUL^"]NMU^L"XPSdNT[+".M"aN"ZQON"MNNL"QcSONK" [ZN"NONL["VU^Z["ZQON"MNPON]"QM"QL"SXXSP[\LU[W"[S"ULMTPUcN"TNP[QUL"VNMMQ^NM"UL[S"[ZN"YSP[ZTSVUL^"]NMU^L"XPSTNMM+"#L"[ZUM"aQWK"[ZN"PNYNPNLTN"MNNVN]"[S"QXXNQP"UL"[ZN"XPSdNT["NONL"cNYSPN"U["[\PLN]"\X"QM"QL"QT[\QR"MZQXN"SY"Q"ZNRU`"UL"[ZN"QPTZU[NT[\PQR"MbN[TZNM+"#L"[ZN"UL[PS]\T[USL"[S"[ZN"GURLU\M"aSPbMZSXMK"U["[SSb"[ZN"YSPVQ["SY"Q"PNXNQ[N]"OUMUSL"SY"[ZN"XPQT[UTN"[ZQ["[ZN"LNa"ZS\MN"aQM"N`XNT[N]"[S"QTTSVVS]Q[N+"-QMN]"SL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"[ZQ["[SSb" XRQTN" UL" GURLU\MK" U[" [ZNL" M[QP[N]" [S" QXXNQP" UL" QPTZU[NT[\PQR" ]UQ^PQVM" [ZQ["PNXPNMNL[N]" OQPUQ[USLM" SY" T\PON]" RSSXM+" .RMSK" [ZN" [N`[M" QL]" bNWaSP]M" [ZQ["PNXPNMNL[N]"[ZNMN"VS]NRM"QL]"]UQ^PQVM"PNYRNT[N]"[ZN"PNYNPNLTN"UL"OQPUS\M"aQWM+"$S["SLRW"[ZPS\^Z"[ZN"QT[\QR"[NPV"l!+/,06*2"QL]ISP"!#$*,<2mK"c\["QRMS"[ZPS\^Z"Q"PQL^N"SY"QMMSTUQ[N]" N`XPNMMUSLM" [ZQ[" PNXPNMNL[N]" ]UYYNPNL[" ONPMUSLM" SY" [ZN" MQVN" U]NQ" SY"TPSMMUL^"TSLLNT[USLM"UL"Q"c\UR]UL^"M[P\T[\PN+"""#L"[ZN"YUNR]"LS[NM"#"[SSb"]\PUL^"[ZN"GURLU\M"aSPbMZSXMK"#"ZQON"VQ]N"L\VNPS\M"

PNVQPbM"SL"[ZN"QXXQPNL["YST\M"SL"ZSa"[ZN"Y\[\PN"c\UR]UL^"MZS\R]"XPSVS[N"]UYYNPNL["[WXNM" SY" VNN[UL^M+" $S[" SLRW" QM" QT[\QR" NLTS\L[NPM" cN[aNNL" XNSXRNK" c\[" QRMS"QPTZU[NT[\PQRRWK" UL" [NPVM" SY" ZSa" [ZN" c\UR]UL^" TSLM[P\T[USL" TS\R]" M\XXSP[" [ZN"NVNP^NLTN" SY" LNa" TSLLNT[USLM+" :\S[Q[USLM" RUbN" !M$% :6."% "'% +",7(*6"$%1'77(.,16",'.6*%/6""$0.+%,.%"#$%)(,*&,.-A%D'..$1",'.9%7';$7$."9%,."$061",'.Q%#':%&'$+% "#,+% ,.@*($.1$%'(0%:68% "'%1'.1$/"(6*,B$%6.&%&$;$*'/% +/61$J2" URR\M[PQ[N"ZSa"[ZN"M[QYY"Q[[NVX[N]"[S"Y\P[ZNP"[ZN"QP[UT\RQ[N]"UL[NPNM["UL"LS[USLM"M\TZ"QM"!5.':*$&-$%+#60,.-2K"!10'++N&,+1,/*,.60,"82K"QL]"VSPN+""

9;C""

"5Q[S\P" N`XRQULM"aZQ[" ZQXXNLM"aZNL"aN"VQbN" M\TZ" MZSP[DT\[M" cN[aNNL" [ZUL^M"

[ZQ["UL"XPULTUXRN"ZQON"Q"ONPW"]UYYNPNL["VNQLUL^"[S"[ZNV+"2NPNK"aN"YSPV"Q"TZQUL"SY"QMMSTUQ[USLM"[ZQ["TQL"ZSR]"k"QTPSMM"VNQLUL^M"QL]"[PQ]U[USLM"k"QM"RSL^"QM"[ZN"RULbM"UL"[ZN" TZQUL" QPN" bNX[" QYYURUQ[N]+" #L" Q" TSVXRN`" MN[\X" RUbN" QL" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMK" M\TZ" TZQULM" TSL[PUc\[N" [S" bNNXUL^" [ZN" XPSTNMM" UL" XPS^PNMMUSL+" 5Q[S\P"]NMTPUcNM"S\P"QcURU[W"[S"QTTNX["[ZNMN"TSLM[P\T[N]"QMMSTUQ[USLM1"q7N"LNONP"]N[NT["[ZN"P\X[\PN"cN[aNNL"[ZUL^M"QL]"MU^LMK"QL]"aN"LNONP"YQTN"[ZN"UVXSMU[USL"SY"QPcU[PQPW"QL]"]UMTPN[N"MU^LM"SL"MZQXNRNMM"QL]"TSL[UL\S\M"VQ[[NP+"7N"MNN"SLRW"QL"\LcPSbNL"MNPUNM"SY"aNRRDLNM[N]"NRNVNL[MK"NQTZ"SY"aZUTZ"XRQWM"[ZN"PSRN"SY"MU^L"YSP"[ZN"XPNOUS\M"SLN"QL]"YSP"[ZN"M\TTNN]UL^"SLNr"l5Q[S\P"!AAA1"FBm+"""-NRSaK"]UQ^PQV"!E" URR\M[PQ[NM" Q" TZQUL"SY" RULbM"QM" M\TZ"qQL"\LcPSbNL" MNPUNM"SY"

aNRRDLNM[N]"NRNVNL[Mr+"%ZNMN"NRNVNL[M" QPN" LS[" lLNTNMMQPURWm" MUVURQP" UL" MZQXNK"c\["[ZNW" ZSR]" Q" M[SPW" SY" QMMSTUQ[USL" [ZQ[" bNNXM" [ZNV" [S^N[ZNP+" 7N" TQL" QTTNX[" Q"TSLM[P\T[N]"QMMSTUQ[USL"cN[aNNL"[ZUL^M"[ZQ["QPN"ScOUS\MRW"]UYYNPNL[K"c\["U["PNh\UPNM"Q"XSUL["SY"]NXQP[\PN"[ZQ["VQbNM"U["XSMMUcRN"YSP"[ZN"RULbM"[S"TSLLNT[+"""

"3GHIJHK',A'MZSaM"NRNVNL[M"[ZQ["QPN"LS["MUVURQP"c\["bNX["[S^N[ZNPK"UL"Q"TZQUL+'"

"%ZN" <UbQ]S" 2S\MN" XPSdNT[" VU^Z[" cN" TZQPQT[NPU_N]" QM" Q" ZU^ZRW" ]UYYUT\R[" QL]"

\L[PQ]U[USLQR"XPSdNT[K"UL"aZUTZ"Q"TPSMMD]UMTUXRULQPW"]NMU^L"[NQV"N`XNPUNLTN]"MNONPN"XPScRNVM"aU[Z" ^N[[UL^" [ZN" ]NMU^L" XPSTNMM" UL[S"VS[USL" lTY+" MNT[USL" B-m+"2NPNK" [ZN"QPTZU[NT[M"XPNYNPPN]"aSPbUL^"aU[Z"SLN"VQUL"TSLTNX[K" QM"SXXSMN]" [S"aSPbUL^"aU[Z"MNONPQR" TSLTNX[\QR" U]NQM" TSLT\PPNL[RWK" aZUTZ" aQM" XPSXSMN]" cW" [ZN" XPSTNMM"]NMU^LNPM+" %S" [ZNVK" [ZN" MSRN" YST\M" SL" '.$" TSLTNX[\QR" U]NQ" VQ]N" [ZN" XPSdNT["O\RLNPQcRN" [S" N`[NPLQR" XPScRNVM" lYULQLTUQRK" [NTZLUTQRK" XPQT[UTQR" SP" S[ZNPm+" 'L" [ZN"S[ZNP" ZQL]K" [ZN" VNPN" NM[QcRUMZVNL[" SY" [ZN" ZNRU`" QM" Q" XSUL[" SY" PNYNPNLTN" QL]" [ZN"L\VcNP"SY"ONPMUSLM"U["[SSb"SLK"QRMS"UL]UTQ[NM"[ZN"M[PNL^[Z"[ZQ["M\TZ"Q"PNYNPNLTN"TQL"

9;;""

ZSR]+"#L"[ZUM"aQWK"[ZN"ZNRU`"VU^Z["cN"MQU]"[S"ZQON"TSL[PUc\[N]"[S"NM[QcRUMZ"Q"TZQUL"SY"QMMSTUQ[USLMK" ]\PUL^" [ZN" YUPM[" XZQMN" SY" [ZN" XPSdNT[+" (\PUL^" [ZUM" [UVNK" [ZN" YUPVHM"QP[UT\RQ[N]"QMXUPQ[USL"[S"\MN"[ZN"XPSdNT["QM"Q"ONZUTRN"[S"M\XXSP["[ZN"NM[QcRUMZVNL["SY".PbU[NVQHM"Y\[\PN"XPQT[UTNK"MNNVN]"[S"aSPb+"-NYSPN"[ZN"VN[QXZSP"SY"[ZN"ZNRU`"aQM"NM[QcRUMZN]"QM"Q"XSUL["SY"]NXQP[\PNK" YPSV"aZUTZ"[ZN"]NMU^L"XPSTNMM"TS\R]"NVNP^NK"[ZN" QPTZU[NT[M" YNR[" RSM[+" 7U[Z" [ZN" ZNRU`" QM" Q" TQ[QRW_NPK" [ZN" TZQUL" SY" QMMSTUQ[USLM"M[QP[N]"[S"YSPVK"QL]"Q"]NMU^L"MSR\[USL"cN^QL"[S"NVNP^N+"""#L"[ZUM"XPSdNT[K"[ZN"NM[QcRUMZVNL["SY"Q"TZQUL"SY"QMMSTUQ[USL"VQW"MNNV"ZNRXY\RK"UL"

[ZN" MNLMN" [ZQ[" [ZN" ONL[\PN" SXNLRW" ULOSRON]" LS[" SLRW" QPTZU[NT[\PQRK" c\[" QRMS"SP^QLU_Q[USLQR"NYYSP[M" UL"Q"TSLT\PPNL["XPSTNMM"SY"]NMU^LUL^+"%ZN"N`[NL]N]"QVS\L["SY" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" [ZN" TSL[UL\S\M" XPS]\T[USL" SY" SP^QLU_Q[USLQR"PNh\UPNVNL[M"l!G#$%U''5%'@%"#$%\'(+$2mK"XQPQRRNR"[S"[ZQ["SY"[ZN"NVNP^NLTN"SY"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USLK"VU^Z["cN"MNNL"QM"QL"N`QVXRN+"-QMN]"SL"[ZUM"U]NQ"SY"Q"XS[NL[UQR"RULb"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"YQT[SPM"[ZQ["aS\R]"V\[\QRRW"ULYSPV" SLN" QLS[ZNPK" [ZN" YUPVHM" Q[[NL[USL" aQM" LS[" SLRW" SL" [ZN" NVNP^NLTN" SY" [ZN"c\UR]UL^"QM"QL"QPTZU[NT[\PQR"TSLM[P\T[USL+".RMSK"[ZN"c\UR]UL^"aQM"MNNL"QM"Q"RNONP"YSP"MSTUQR"QT[UOU[W+"7U[Z"[ZUM"]S\cRN"QMXUPQ[USL"UL"VUL]K"[ZN"ZNRU`"MNNVN]"[S"[PQONR"SLTN"U["ZQ]"NM[QcRUMZN]"U[MNRY"QM"Q"PNYNPNLTN1"YPSV"aSPbMZSX"]UMT\MMUSLM"cN[aNNL"XNSXRNK"[ZPS\^Z" XZPQMNM" [ZQ[" QXXNQPN]" UL" aPU[[NL" ]NMTPUX[USLM" QL]" XPNMNL[Q[USLMK" [S" Q"OQPUQ[USL"SY"T\PON]"RSSXM"UL"SP]NP"[S"ULYSPV"[ZN"ZS\MN"k"LS["SLRW"QM"QL"QPTZU[NT[\PQR"TSLM[P\T[USLK"c\["QRMS"QM"Q"YPQVNaSPb"YSP"MSTUQR"UL[NPQT[USL+"-NRSaK"#"aURR"RSSb"UL[S"ZSa"[ZN"ZNRU`"TSL[UL\N]"[S"[PQONR"YPSV"GURLU\M"SLaQP]M+"2Sa"]U]"[ZN"]NMU^LNPM"\MN"U[o""

IH!&45!45>;W!;:!P6=;6:*!A6:A5;B;:8!&45!K978C57;=5Z76C=5!

&N[\PLUL^"YPSV"GURLU\MK" [ZN"]NMU^L"[NQV"Q[[NVX[N]"[S"RQ\LTZ"[ZN"]NONRSXVNL["SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[" UL" Q" VSPN" YST\MN]" YSPV+" -QMN]" SL" [ZN" VQ[NPUQR"XPS]\TN]" UL" GURLU\MK" [ZN" XPSTNMM" ]NMU^LNPM" XRQLLN]" [ZPNN" Q]]U[USLQR" UL[NPQT[UON"aSPbMZSXMK"QL]"QRPNQ]W"UL"[ZN"YUPM["SY"[ZNMNK"[ZN"ZNRU`"PNQXXNQPN]"SL"[ZN"MTNLN+"$S["UL" Q" ]UPNT[" YSPVK" c\[" UL" Q" [PQLMRQ[N]" ONPMUSL1" QM" Q" MTNLUT" PS\[NK" NL[U[RN]" !G#$%R60-($0,"$N0'("$2+"""7ZNL"!"#$%R60-($0,"$N0'("$2" QXXNQPN]"QM"Q"TSLTNX[\QR" U]NQ" UL" [ZN"XPSdNT[K" U["

aQM"aU[Z" Q" PNYNPNLTN" [S" [ZN" LS[USL" SY" Q"^\U]N" [ZPS\^Z" [ZN" UL[NPUSP" M[P\T[\PN+"%ZN"

9;F""

X\PXSMN"aQMK"LS["SLRW"[S"MNT\PN"[ZN"XZWMUTQR"TSLLNT[USLM"[ZPS\^ZS\["[ZN"c\UR]UL^K"c\[" QRMS" [S"TPNQ[N"QL"QaQPNLNMM"SY" [ZN"QT[UOU[UNM" [ZQ[" [ZN"ZS\MN"QUVN]" [S" M\XXSP[+"2NPNK"]UYYNPNL["PS\[NM"aNPN"]NYULN]"[S"PNXPNMNL["U[M"MXQ[UQR"SXXSP[\LU[UNM+"<W"YUNR]"LS[NM"]NMTPUcN"[ZN"U]NQ"QM"U["aQM"XPNMNL[N]"UL"[ZN"VU]M["SY"[ZN"]NMU^L"XPSTNMMK"YUPM["cW"VWMNRY1"!=>?%"#$%-0'(/%:'05$&%:,"#%"#$%7$"6/#'0%'@%"#$%#'(+$%6+%6%*6.&+16/$Q%"#$%R60-($0,"$N0'("$2K" QL]" [ZNL"cW" [ZN"XPSTNMM"]NMU^LNPM" UL" [ZNUP" Q^^PN^Q[USL"SY"[ZN" VQ[NPUQR" XPS]\TN]" UL" SLN" SY" [ZN" aSPbMZSX1" !G#$% $</$0,$.1$% &$"'(09% X"#$%R60-($0,"$N0'("$4A% V@% ,7/'0"6.1$% "'% 1*,$."+% 6+% :$**% 6+% "'% +"6@@9% ,.% 0$-60&+% "'%5.':*$&-$%+#60,.-%6.&%,&$.","82A""".^QULK"aN"MNN"Q" PNYNPNL[UQR" RULb"cN[aNNL"!5.':*$&-$%+#60,.-2" QM"Q"XQP[UT\RQP"

QT[UOU[W"[ZQ["[ZN"YUPV"aQL[N]"[S"XPUSPU[U_NK"QL]"[ZN"XQ[ZM"[ZPS\^Z"[ZN"ZS\MN"QM"aQWMK"[ZPS\^Z" aZUTZ" M\TZ" QL" QT[UOU[W" VU^Z[" cN" QTTSVVS]Q[N]" QL]" M\XXSP[N]+" %ZNMN"XQ[ZM"aNPN"ULMXUPN]"cW"[ZN"VN[QXZSP"SY" [ZN"ZNRU`+".R[ZS\^Z"S[ZNP"VN[QXZSPM"aNPN"Q["M[QbN"UL"[ZN"XPSdNT["]\PUL^"[ZUM"XZQMNK"OQPUQ[USLM"SY"[ZN"ZNRU`"TSL[UL\N]"[S"TPSX"\X"QM" [ZN"V\[\QR" XSUL[" SY" PNYNPNLTN+" #["aQM" ^UONL" ]UYYNPNL[" QPTZU[NT[\PQR" N`XPNMMUSLM"QL]" ONPcQR" QP[UT\RQ[USLM+" -\[" RSSbUL^" [ZPS\^Z" [ZN" NVXUPUTQR" VQ[NPUQRg" MbN[TZNMK"]UQ^PQVMg" [N`[MK" QL]" S[ZNP" VQ[NPUQRK" [ZN" LS[USL" SY" TSL[QT[" QTPSMM" [ZN" ZS\MN" [ZQ["QUVN]" [S" NLZQLTN" TSVV\LUTQ[USLQR" QL]" TSRRQcSPQ[USLQR" SXXSP[\LU[UNMK" MNNVN]" [S"M[UTb+".M"Q"TSLTNX[K"aN"VU^Z["MQW"[ZQ["[ZN"ZNRU`"M\TTNN]N]"UL"VScURU_UL^"QL]"[Z\M"M[QcURU_UL^" U[M" M[PNL^[Z" [ZPS\^Z" [ZN" OQPUS\M" ONPMUSLM" U["aQM" PNXPNMNL[N]" cW" UL" [ZN"XPSdNT["lN+^+"5Q[S\P"!AA!K"!AAAm+"""%ZN"ZNRU`"QL]"%ZN"<QP^\NPU[NDPS\[N"QPN"LS["SLN"QL]"[ZN"MQVN+"%ZNW"]SLH["NONL"

PNMNVcRN"SLN" QLS[ZNP+"-\[" [ZNW" PNXPNMNL["]UYYNPNL[" QMXNT[M" SY" [ZN" MQVN" U]NQK" QL]"[ZNPNcW" M\XXSP[" [ZN" TSLM[P\T[USL" SY" [ZN"<UbQ]S"2S\MN+"2NPNK" [ZN" ZNRU`" TPNQ[NM" Q"RULb" cN[aNNL" [ZUL^M" [ZQ[" QPN" UL" XPULTUXRN" ]UYYNPNL[1" [ZN" QPTZU[NT[\PQR" c\UR]UL^g" [ZN"YPQVNaSPb" [S" M\XXSP[" MSTUQR" UL[NPQT[USLK" QL]" [ZN" M[SPW" SY" .PbU[NVQ" QM" QL"SP^QLU_Q[USL% lN+^+"5Q[S\P"!AAAK"3R^QQP]"JNLMNL"9EEFm+" #L" [ZUM"aQWK"aN"VU^Z[" MQW"[ZQ[" [ZN" ZNRU`" aNL[" [ZPS\^Z" qMNPUNM" SY" [PQLMYSPVQ[USLMr" [ZQ[" ZQ]" QPTZU[NT[\PQR" QM"aNRR" QM" SP^QLU_Q[USLQR" TSLLS[Q[USLM" [S" [ZNVK" aZURN" bNNXUL^" [ZN" TZQUL" SY"QMMSTUQ[USLM"!1'.+"6."2"l5Q[S\P"!AAA1"F,m+""

9;B""

NH!&45!45>;W!;:!=45!5W=57;67!M5@;8:*!G76P!@;:8>5!=6!M6CR>5!45>;W!

#L"[NPVM"SY"[ZN"N`[NPUSP"]NMU^L"SY"[ZN"c\UR]UL^"QM"QL"QPTZU[NT[\PQR"TSLM[P\T[USLK"[ZN" MXUPQR" SY" T\PON]" RSSXM" MNNVN]" [S" NM[QcRUMZ" QL]" TSLMSRU]Q[N" QM" Q" MS\PTN" SY"ULMXUPQ[USL" [S" [ZN" ]NMU^L" [NQV+"(NMXU[N" SY" [ZN" TSVXRUTQ[N]" NYYSP[M" [S" RQ\LTZ" QL]"NM[QcRUMZ" [ZN"]NMU^L"XPSTNMMK" [ZN"ZNRU`" M\POUON]" [ZN"VS[USLM" [ZQ[" [ZN"]NMU^L" [NQV"MNNVN]"[S"^S"[ZPS\^Z1"SY"[NM[UL^"[ZN"TSLTNX[\QR"U]NQM"Q^QULM["[ZN"TSL]U[USLM"SY"[ZN"c\UR]UL^" MU[Ng" VNP^UL^" ]UYYNPNL[" TSLTNX[\QR" U]NQM" [ZQ[" aNPN" TSLTNUON]" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNMg"MSROUL^"M\cM[QL[UQR"[NTZLUTQR"TSVXRUTQ[USLMK"QL]"VSPN+"""." YNa" TSLTPN[N" NONL[M" XQP[UT\RQPRW" MNNVN]" [S" ZQON" ZNRXN]" [ZN" VN[QXZSP" [S"

M[QcURU_N+"'LN" UVXSP[QL[" NONL["aQM".PbU[NVQHM"XPSOUMUSLQR" TSRRQcSPQ[USL"aU[Z" [ZN"QTbLSaRN]^N]" QL]" ZU^ZRW" N`XNPUVNL[QR" 3L^RUMZ" NL^ULNNPUL^" TSLM\R[QLTWK" .P\X+"%ZPS\^Z" [ZN" TSRRQcSPQ[USL" aU[Z" .P\XK" [ZN" ZNRU`" aQM" PQXU]RW" NM[QcRUMZN]" QM" [ZN"XPSdNT[HM" XPUVQPW" TSLTNX[\QR" ]PUONP+" %ZN" LQVN" SY" [ZN" TSLTNX[\QR" U]NQ" TZQL^N]"YPSV"!+/,06*2"[S"!#$*,<2K"QL]"cNYSPN"RSL^K"[ZN"]NMU^L"SY"[ZN"c\UR]UL^"TSLM[P\T[USL"ZQ]" ]NONRSXN]" UL[S" Q" !&'()*$% #$*,<2+" %ZN" ]S\cRN" ZNRU`" PNXPNMNL[N]" [aS" RQP^N"MXUPQRM" SY" T\PON]" QL]" UL[NP[aULN]" RSSXM" [ZQ[" PQL" [ZPS\^Z" [ZN" c\UR]UL^" QL]"TSLM[U[\[N]"U[M"cQMUT"M[P\T[\PN+"#L" [ZN"SYYUTUQR"XPSdNT["XPSXSMQR" [ZQ["PNXPNMNL[N]"[ZN"<UbQ]S"2S\MN"XPSdNT["UL"U[M"YUPM["XZQMNK"[ZN"XPSdNT["aQM"]NMTPUcN]"UL"[ZN"YSRRSaUL^"aQW1""!G#$%;,+,'.%,+%"'%10$6"$%6%#'(+$%"'%+(//'0"%P05,"$764+%'0-6.,B6",'.%O%10$6",;,"89%

1'**6)'06",'.9%5.':*$&-$%+#60,.-9%/$0+'.6*%6.&%+'1,6*%0$*6",'.+9%1',.1,&$.1$%6.&%@*':% =>?A%G#$%;,+,'.4+% +/6",6*% $</0$++,'.%#6+% "#$% @'076"%'@%6% +/,06*% "#6"% 1("+% ,"+%:68% "#0'(-#'("% "#$% #'(+$% =>?A% 3"% ,+% &,+/*68$&% 6+% +/61$+% '@% &'()*$% ;$0",16*%$<"$.+,'.+9%:#,1#%10$6"$%d%&,6-'.6*%+/6",6*%+"0(1"(0$+%="#$%&'()*$%#$*,<?A%G#$+$%d%+/6",6*%+"0(1"(0$+%1'..$1"%"#$%)(,*&,.-4+%*$;$*+%6.&%@'07%"#$%/',."%'@%&$/60"(0$%'@%P05,"$764+%+/6",6*%'0-6.,B6",'.A2%%%#L"[ZUM"h\S[Q[USLK"[ZN"U]NQ"SY"Q"PNYNPNLTN"MNNVM"TRNQP1"qLS["MUVXRW"sQMt"[ZN"QT["SY"

XSUL[UL^"SP"Q"aQW"SY"bNNXUL^K"SL"[ZN"S\[MU]NK"MSVN"VQ[NPUQR"^\QPQL[NN"YSP"[ZN"[P\[Z"SY"Q"M[Q[NVNL[g"PQ[ZNP"U["UM"S\P"aQW"SY"bNNXUL^"MSVN[ZUL^"1'.+"6.""[ZPS\^Z"Q"MNPUNM"SY" [PQLMYSPVQ[USLM" l5Q[S\P" !AAA1" F,m+" 2NPNK" [ZN" ZNRU`" TSVNM" YSP[Z" QM" QL"QPTZU[NT[\PQR" TSLTNX[" lq"#$% @'076"% '@% 6% +/,06*% "#6"% 1("+% ,"+% :68% "#0'(-#'("% "#$%

9;?""

#'(+$2mK" QL]" QRMS" QM" SP^QLU_Q[USLQR" QMXUPQ[USLM" lq10$6",;,"89% 1'**6)'06",'.9%5.':*$&-$%+#60,.-9%/$0+'.6*%6.&%+'1,6*%0$*6",'.+9%1',.1,&$.1$%6.&%@*':2m+"""#L" [ZN" LN`[" XQPQ^PQXZ" SY" [ZN" MQVN"XPSdNT[" XPSXSMQRK" [ZN" TSVcULQ[USL" cN[aNNL"

[ZN" [aS" ]NMU^LM" cNTSVNM" NONL" TRNQPNPK" QM" U[" ]NMTPUcNM" ZSa" [ZN" MXQ[UQR" YSPVQ["]UPNT[RW"PNYNPM"[S"[ZN"SP^QLU_Q[USLQR"QMXUPQ[USL1"""!G#$%60$6%'@%"#$%&'()*$%;$0",16*%$<"$.+,'.+%0$/0$+$."+%"#$%'/$.9%&8.67,1%/*6.$%

:,"#%&$/60"7$."+%*'16"$&%60'(.&%="#$%+/,06*?%@0'7%"#$%+"60"%,.%"#$%0$1$/",'.%60$69%"#0'(-#% "#$% $.&% ,.% "#$% 16."$$.A% G#$+$% 60$% "#$% '/$.% /0'F$1"% B'.$+9% :#$0$% $61#%&$/60"7$."% ,+% $</'+$&% :,"#% ,"+% ':.% ,&$.","89% :'05% 7$"#'&% 6.&% /0'F$1"A% \$0$9%/$'/*$%7$$"%610'++% "#$%&$/60"7$."+% @'0%1'**6)'06",'.%6.&%&,+1(++,'.A%=>?%3@%8'(%@'**':%"#,+%!760-($0,"$%0'("$2%8'(%/6++%"#0'(-#%$;$08%&$/60"7$."%'@%P05,"$76A2""2NPNK" [ZN" RULb"cN[aNNL"SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" UM" N`XSMN]+"%S"

N`XRQUL"[ZUM"UL[NPMNT[USLK".bPUTZ"XSUL["S\["[ZQ["qcS[Z"[NTZLUTQR"QL]"MSTUQR"NRNVNL[M"aNPN" MUV\R[QLNS\MRW" cPS\^Z[" UL[S" cNUL^" D" Q" XPSTNMM" [ZQ[" VSON]" YQP" cNWSL]" [ZN"YPSL[UNPM"SY" [ZN" RQcSPQ[SPW"SP" [ZN"aSPbMZSX+"%ZN"YQT[" [ZQ[" [ZN" UVXSP[QLTN"SY" [ZNMN"TZQPQT[NPUM[UTM"SLRW"cNTQVN"NOU]NL["UL"[ZN"UL[NPQT[USL"cN[aNNL"]NMU^LNPM"QL]"\MNPM"aQM" LS[" [ZN" PNM\R[" SY" TZQL^N" SP" LN^RU^NLTN+" 3QTZ" ]NTUMUSL" QT[\QRRW" [QbNLK" VQ]N"MNLMN"UL"[NPVM"SY"]NMU^L"TPU[NPUQ+r"l.bPUTZ"!AA?1"9!Em+".bPUTZHM"UL]UTQ[USLM"SY"[ZN"V\[\QRRW"]NXNL]NL["NVNP^NLTN"SY"MSTUQR"QL]" [NTZLUTQR"ScdNT[M"VU^Z["cN"Q"aQW" [S"]NMTPUcN"aZQ[" ZQXXNLN]" UL" [ZUM" XQP[" SY" [ZN" ]NMU^L" XPSTNMM" UL" [ZN"<UbQ]S"2S\MN"XPSdNT[+" .M" Q" PNYNPNLTNK" [ZN" ZNRU`" aQM" TSLTNUON]" [ZPS\^Z" [ZN" N`TZQL^NM" QL]"UL[NPQT[USLM"[ZQ[" [SSb"XRQTN"UL"[ZN"TS\PMN"SY" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"#["aQM"[ZN"]N[QURM" [ZQ[" ZQ]" NVNP^N]" UL" [ZNMN" TSLONPMQ[USLM" [ZQ[" ^QON" RUYN" [S" [ZN" ZNRU`" QM" Q"YSP[ZTSVUL^"YPQVNaSPb"YSP"MSTUQR"UL[NPQT[USL"QL]"SP^QLU_Q[USLQR"XPQT[UTN+"2NPNK"[ZN"SP^QLU_Q[USLQR"QL]" [ZN"QPTZU[NT[\PQR" MNNVN]" [S"ZQON"TSLONP^N]K"QL]" [ZN"]NTUMUSLM"qVQ]N"MNLMN"UL"[NPVM"SY"]NMU^L"TPU[NPUQr"l#cU]+m+""%ZN" XNPUS]" SY" [UVN" aZNL" [ZN" ]NMU^L" [NQV" N`XRSPN]" QL]" [PQLMYSPVN]" [ZN"

PNYNPNLTN" SY" [ZN" ZNRU`" QM" [ZN"VQUL" TSLTNX[\QR" U]NQK"VU^Z[" cN" MQU]" [S" cN" [ZN" RNQM["TSLYRUT[UL^"XNPUS]K"UL"[ZN"XQP["SY"[ZN"<UbQ]S"2S\MN"XPSdNT["[ZQ["#"ZQ]"[ZN"TZQLTN"[S"M[\]W+" .M" aN" VU^Z[" PNTQRR" YPSV" [ZN" XPNOUS\M" MNT[USL" QcS\[" [ZN" ]NMU^L" [NQVHM"Q[[NVX[M" Q[" TSRRQcSPQ[USL" QM" XPSTNMMNM" SY" SP^QLU_Q[USLQR" MNLMNVQbUL^K" XNSXRN" UL"SP^QLU_Q[USLM"aQL["[S"bNNX"\X"[ZN"QT[USL+"(\PUL^"[ZN"[UVN"aZNL"[ZN"PNYNPNLTN"SY"[ZN"

9;,""

ZNRU`"bNX["[PQONRUL^"QM"Q"]NMU^L"TQ[QRW_NPK"[ZN"VNVcNPM"SY"[ZN"]NMU^L"[NQV"MNNVN]"[S"bLSa"aZQ["[ZNW"aNPN"]SUL^K"QM"[ZNW"ZQ]"PN[\PLN]"[S"Q"]NMU^L"XPSTNMM"[ZNW"aNPN"VSPN" YQVURUQP" aU[Z+" 2NPNK" [ZNW" ZQ]" RQP^NRW" MNXQPQ[N]" [ZN" XPSTNMM1" SLN" [NQV" SY"QPTZU[NT[M"aSPbUL^"aU[Z" [ZN" N`[NPUSP"]NMU^L"SY" [ZN"(S\cRN"2NRU`K"aZURN"SLN" [NQV"TSLMUM[UL^"SY"QL"QPTZU[NT["QL]"Q"XPSTNMM"]NMU^LNP"aSPbN]"aU[Z"[ZN"UL[NPUSP"]NMU^L"SY"[ZN" <QP^\NPU[N" &S\[N+" %ZN" N`TR\MUON" YST\M" SL" [ZN" ZNRU`" QM" [ZN" MSRN" XSUL[" SY"PNYNPNLTN"VU^Z["LS["ZQON"PNONQRN]"[ZN"XS[NL[UQR"[ZQ["Q"TSLT\PPNL["]NMU^L"QXXPSQTZ"XNPZQXM"TS\R]"ZQON"ZNR]K"QTTSP]UL^"[S"[ZN"XPSTNMM"]NMU^LNP"lTY+"B-m+"-\["[ZN"]NMU^L"XPSTNMM"VQUL[QULN]"QT[USL"QL]" [ZN"]NMU^L"MSR\[USL"NOSRON]"]\PUL^" [ZUM"XQP["SY" [ZN"XPSTNMM+""%ZN" nYSPVQRH" NM[QcRUMZVNL[" SY" [ZN" ZNRU`" QM" QL" QP[UT\RQ[N]" PNYNPNLTN" UL" YQT["

MNNVN]" [S" ZQXXNL" [ZPS\^Z" [ZN" XPSdNT[HM" [NL[Q[UON" TSRRQcSPQ[USL" aU[Z" .P\XK"VNL[USLN]"QcSON" UL" [ZUM"MNT[USL+"7ZNL"NL[NPUL^" [ZN"]NMU^L"XPSdNT["QM"QL"N`[NPLQR"XQP[LNPK" [ZN" TSLM\R[QL[M" YPSV".P\X" [SSb"SL" [ZN"]NMU^L" [NQVHM"ONPMUSLM"SY" T\PON]"RSSXM"UL"[ZN"XPSXSMQRM"QM"QL"ULMXUPQ[USLK"QL]"]NONRSXN]"[ZNV"Y\P[ZNP+"%S"QL"S\[MU]NP"RUbN"VWMNRYK"U["MNNVN]"[ZQ[".P\X"TQVN"UL[S"[ZN"XPSTNMM"Q["Q"XSUL["aZNL"[ZN"XPSdNT["lQM" Q" TSRRQcSPQ[USL" N`XNPUVNL[m" ZQ]" PNQTZN]" N`ZQ\M[USL+" .R[ZS\^Z" Q" TSLTPN[N"XPSXSMQR" YSP" Q" ]NMU^L" MSR\[USL" ZQ]" TSLTNX[\QRRW" VQ[NPUQRU_N]" Q[" [ZUM" [UVNK" .P\X"cPS\^Z[" U[" Y\P[ZNP"lNONL[\QRRW" [S"YSPV"%ZN"(S\cRN"2NRU`m+".RMSK" [ZNW"XPSOU]N]"QL"QT[\QR"LQVN"YSP"[ZN"TSLTNX["l[ZN"!#$*,<2"QM"SXXSMN]"[S"[ZN"SPU^ULQR"!+/,06*2m+".P\X"aQM" Q" LN\[PQR" XQP[WK"aZS" NL[NPN]" [ZN" XPSTNMM" Q[" Q" TPU[UTQR" XSUL[+" =PSV" [ZUM" XSUL["SLaQP]MK" LNa" NLNP^W" aQM" cPS\^Z[" UL[S" [ZN" ]NMU^L" QL]" XPSTNMM+" .R[ZS\^Z" [ZN"TSRRQcSPQ[USL"]U]LH["RQM["ONPW"RSL^K"]\N"[S"YULQLTUQR"PNM[PUT[USLMK"aN"VU^Z["MQW"[ZQ[".P\X" QL]" [ZN" ZNRU`" cNTQVN" Q" [\PLUL^" XSUL[" UL" [ZN" XPSTNMM1" nQ"V\[\QR" [ZUP]H" [ZQ["XPS]\TN]"Q"LNa"SXXSP[\LU[W"[S"TSVV\LUTQ[N"QL]"TSSP]ULQ[N+"""

" "3GHIJHK',,"URR\M[PQ[NM"[ZN"LS[USL"SY"n[ZN"V\[\QR"[ZUP]H"l=NR][ZQ\M"9EE;m1"."[ZUP]"XQP[W"[ZQ["NL[NPM"Q"TSVXRUTQ[N]"

XPSTNMM"QL]"cPUL^M"YSP[Z"LNa"M[PNL^[ZK"cW"cNUL^"LN\[PQR+""

9;A""

%ZN"TSRRQcSPQ[USL"aU[Z".P\X"aQM"QcQL]SLN]"QY[NP"VSL[ZM"SY"NYYSP[M"Q["YUL]UL^"Q"MSR\[USLK" aU[ZUL" aZUTZ" [ZN" [NTZLUTQRRW" TSVXRN`" l[ZN" ]NMU^Lm" QL]" [ZN" YULQLTUQRRW"OUQcRN" l[ZN" ULONM[VNL[m" TS\R]" TSPPNMXSL]+" %ZN" cPNQb]SaL" SY" [ZUM" TSRRQcSPQ[USL"TQVN"[S"PNXPNMNL["[ZN"M\cMNh\NL["TSRRQXMNK"LS["SLRW"SY"[ZN"ZNRU`"QM"Q"V\[\QR"XSUL["SY"PNYNPNLTNK"c\["QRMS"SY"[ZN"TZQUL"SY"QMMSTUQ[USL"[ZQ["VU^Z["cN"MQU]"[S"ZQON"bNX["[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT["^SUL^K"QM"Q"]NMU^L"XPSTNMM+"""

NH!&45!45>;W!;:!=45!;:=57;67!M5@;8:*!A6:=;:C6C@!=79:@G67P9=;6:@!

R9@5M!6:!9!A76@@ZM;@A;?>;:97Q!A6>>9R679=;6:!!

%\PLUL^" [S" [ZN" UL[NPUSP" ]NMU^L" SY" [ZN" c\UR]UL^K" [aS" TSL]U[USLM" MNNVN]"XQP[UT\RQPRW"MU^LUYUTQL["UL"[ZN"XPSTNMM"SY"M[QcURU_UL^"[ZN"ZNRU`%QM"XSUL["SY"PNYNPNLTN"[S"M\XXSP["[ZN"NVNP^NL["]NMU^L"MSR\[USL+"%ZN"YUPM["aQM"%ZN"<QP^\NPU[NDPS\[NK"QM"QL"UL[NPUSP" [PQLMYSPVQ[USL" SY" [ZN" ZNRU`" VN[QXZSP+" %ZN" MNTSL]" aQM" Q" XQP[UT\RQP"TSRRQcSPQ[USLQR"NYYSP["cN[aNNL"[aS"VNVcNPM"SY"[ZN"]NMU^L"[NQV1"QL"QPTZU[NT["QL]"Q"XPSTNMM"]NMU^LNP+"""%ZUM"TSRRQcSPQ[USL"VU^Z["cN"MNNL"QM"QL"NXU[SVN"SY"MNONPQR"SY"[ZN"QMXUPQ[USLM"[ZQ["

TZQPQT[NPU_N]"[ZN"<UbQ]S"2S\MN"XPSdNT[+"2NPNK"[ZN"[aS"]NMU^LNPM"aSPbN]"YPSV"[ZN"MSDTQRRN]"!/0'1$++%/$0+/$1",;$2K"cW"N`XRSPUL^"[ZN"PNM\R[M"QL]"[ZNPNcW"\LYSR]UL^"[ZN"NVNP^UL^" cPUNY" SY" PNh\UPNVNL[M" l!G#$% U''5% '@% "#$% \'(+$2m+" #L" [ZUM" Q[[NVX[" Q["!5.':*$&-$% +#60,.-2" UL" Q" !10'++N&,+1,/*,.6082% TSRRQcSPQ[USLK" [ZN" TRSMNP" RULb"cN[aNNL"[ZN"QPTZU[NT[\PQR"QL]"[ZN"SP^QLU_Q[USL"]NMU^L"XPSTNMMNM"aQM"UL[NPPS^Q[N]+"""#L" [ZN" TS\PMN" SY" [ZUM" QRRUQLTNK" [ZN" QPTZU[NT[" QL]" [ZN" XPSTNMM" ]NMU^LNP" aSPbN]"

[S^N[ZNPK"UL"SP]NP"[S"]NONRSX"Q"]NMU^L"MSR\[USL"YSP"[ZN"UL[NPUSP"RQWS\["SY"[ZN"<UbQ]S"2S\MN+"#Y"aN"PNTQRR" [ZN"TSLTNX["SY"NLQT[VNL["QM"Q"TNL[PQR"XZQMN"SY" [ZN"XPSTNMM"SY"SP^QLU_Q[USLQR" MNLMNVQbUL^K" [ZN" [aS" ]NMU^LNPM" cPQTbN[N]K" YPS_NK" QP[UT\RQ[N]K"PNTWTRN]"QL]"PNLN^S[UQ[N]"[ZN"VQ[NPUQR"[ZQ["aQM"XPS]\TN]"QM"Q"VNQLM"[S"ULYSPV"[ZN"]NMU^L"XPSTNMM" [ZNW"MN["S\[" [S"ZQL]RN+"%ZN"VQ[NPUQR"aQM"VUMTNRRQLNS\M1"XPS]\TN]"cW" [ZN" NL]"\MNPM" UL" [ZN" TS\PMN"SY" [ZN"OQPUS\M"XQP[UTUXQ[USL"QT[UOU[UNM" laSPbMZSXMK"UL[NPOUNaMK" Q" M\PONW" QL]"VSPNm+"-\[" [ZNUP" N`TZQL^NM" QRMS" PNMXSL]N]" [S" [ZN"aSPb"]SLN"cW"[ZN"]UYYNPNL["TSL[PUc\[SPM"ULOSRON]"UL"[ZN"XPSdNT[1"cW"XPSTNMM"]NMU^LNPMK"UL"[ZNUP"SP^QLU_UL^"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMg"cW"[ZN"QPTZU[NT[MK"UL"[ZNUP"Q[[NVX[M"[S"

9FE""

]NONRSX"Q"]NMU^L"MSR\[USLg"QL]" YULQRRW"cW"VQLQ^NVNL[K"aU[Z" PN^QP]M" [S" PNYRNT[UL^"[ZN"XPSdNT[HM"TNL[PQR"QMXUPQ[USLM+""".M"[ZN"TSRRQcSPQ[USL"[ZQ["XPUVQPURW"YST\MN]"SL"[ZN"UL[NPUSP"]NMU^L"SY"[ZN"ZS\MNK"

[ZN" [NQV" QT[UONRW" \MN]" [ZN" SP^QLU_Q[USLQR" QMXNT[M" laSPb" XPSTNMMNMK" XPSYNMMUSLQR"PNRQ[USLMZUXMK"XPS`UVU[WK"]UM[QLTNK"QL]"VSPNm"[ZQ["aNPN"Q]]PNMMN]"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USLK" QM" Q" MS\PTN"SY" ULMXUPQ[USL+"2NPNK" [ZN"LS[USL"SY"]NMU^LUL^" YPSV"!"#$%/0'1$++% /$0+/$1",;$2" MNNVN]" [S" VQ[NPUQRU_N+" 5UbN" [ZN" QPTZU[NT[MK" aZS" ZQ]"PNQMMNVcRN]"[ZN"TSLTNX[\QR"U]NQM"TSLTNUON]"UL"GURLU\M"QL]"QRMS"UL"RQ[NP"aSPbMZSXM"lcQMN]" SL" [ZN" TSLTNX[\QR" U]NQ" SY" Q" ZNRU`mK" [ZUM" [NQV" [PUN]" [S" [PQLMRQ[N" [ZN" MQVN"VQ[NPUQR"[S"YSPV"Q"MXQ[UQR"]UMXSMU[USL"SY"[ZN"UL[NPUSP"RQWS\[+"""%ZN"S\[TSVN"SY"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"aQM"cPS\^Z["]UPNT[RW"UL"QM"

QL" ULX\[" [S" [ZUM" ]NMU^L" ]NONRSXVNL[+"7U[Z" Q" MXNTUQR" YST\M" SL" [ZN" SP^QLU_Q[USLQR"PNh\UPNVNL[MK" [ZN" [NQV"aNL[" [ZPS\^Z"QRR"VQ[NPUQR1" U]NQMg"TSLMU]NPQ[USLMg"MbN[TZNMg"OUMUSLMg"LNN]M"QL]"aUMZNMK"XPS]\TN]"cW"[ZN"NL]"\MNPM"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM+"-QMN]"SL" [ZUM"VQ[NPUQRK" [ZN" [NQV"QMMNVcRN]"Q"]ST\VNL["\L]NP" [ZN"ZNQ]RULN"!G#$%)(,*&,.-%+#'(*&Q%=>?2K"aZUTZ"ZNR]"Q"PQL^N"SY"M\cDZNQ]RULNM1%![.#6.1$%10$6",;,"829%!E(//'0"% *$60.,.-%6.&% 5.':*$&-$% +#60,.-29%![.#6.1$%'0-6.,B6",'.6*% 1#6.-$+29%!U$% 6% :'05+#'/29% ![.#6.1$% "#$% :'05% /0'1$++2" QL]" MNONPQR" VSPN+" 3QTZ" XSUL["]UMTRSMN]" TSLTPN[N" U]NQM" QL]" ULU[UQ[UONM" [ZQ[" ]NMTPUcN]" U[M" XS[NL[UQR" TSL[NL[" k" QM"YNQ[\PNM"[ZQ["TZQPQT[NPU_N]"[ZN"Y\[\PN"aSPb"NLOUPSLVNL[+%"%ZN" VQ[NPUQR" ZNR]" M\cM[QL[UQR" TSVXRN`U[WK" QL]" [ZN" TSLTNX[\QR" ]UPNT[USLM" [ZQ["

TS\R]"ZQON"YSPVN]"SL" [ZUM"cQMUMK"aNPNK" UL"XPULTUXRNK"VQLW+"-\[" [ZN" [NQV"[SSb" [ZN"MQVN"XSUL["SY" PNYNPNLTN"l[ZN"ZNRU`m" [ZQ["ZQ]"QRPNQ]W"NM[QcRUMZN]"aU[ZUL" [ZN"]NMU^L"[NQV"QL]" [ZQ["QRMS"VQ[NPUQRU_N]" UL" [ZN"NM[QcRUMZVNL["SY" [ZN"N`[NPUSP"]NMU^L+"7ZQ["[ZN"[NQV"MNNVN]"[S"ZQON"YS\L]K"aQM"[ZQ["[ZN"T\PON]"RSSXM"UL]UTQ[N]"0'("$+K"[ZPS\^Z"aZUTZ" [ZN"c\UR]UL^"TS\R]"cN"LQOU^Q[N]+"%ZN"TSLTNX[\QR" U]NQ"SY"q%ZN"<QP^\NPU[NDPS\[Nr" aQM" [Z\M" \MN]" VN[QXZSPUTQRRW" QM" QL" QR[NPLQ[UON" ONPMUSL" SY" [ZN" ZNRU`1" QL"Q]Nh\Q[N"SP^QLU_UL^"XPULTUXRNK"[ZPS\^Z"aZUTZ"[ZN"MXQ[UQR"XRQL"TS\R]"cN"SP^QLU_N]+"""-QMN]" SL" [aS" XQP[UT\RQP" PS\[NM" laU[Z" PNYNPNLTN" [S" [ZN" !&'()*$% #$*,<21" !"#$%

R60-($0,"$% 0'("$2" QL]" !"#$% a.&$0-0'(.&% 0'("$2m" [ZNW" UL[PS]\TN]" [ZN" U]NQ" SY"]UYYNPNL["B'.$+K"UL"aZUTZ".PbU[NVQHM"]UONP^UL^"XPQT[UTN"TS\R]"cN"]UM[PUc\[N]+"2NPNK"[ZN" _SLNM" PNXPNMNL[N]" ]UYYNPNL[" [WXNM" SY" XPQT[UTN" [ZQ["aQM" ]UM[PUc\[N]" UL" Q" MXQ[UQR"

9F!""

YSPVQ[+"7U[Z"[ZUM"M[P\T[\PUL^"XPULTUXRN"QM"Q"XSUL["SY"]NXQP[\PNK" [ZN"[NQV"XPS]\TN]"OQPUS\M" ONPMUSLM" SY" ZSa" M\TZ" XPQT[UTN" MZS\R]" cN" MXQ[UQRRW" SP^QLU_N]+" %ZNW"]NONRSXN]" [ZPNN"SONPQRR"SP^QLU_Q[USLQR"VS]NRMK"aU[ZUL"aZUTZ" [ZNMN"XPQT[UTNM"aNPN"M\XXSP[N]" UL" OQPUS\M" aQWM+" %ZN" VS]NRM" aNPN1" <!" l!"#$% /0'&(1",'.% #6**2mK" <9"l!"#$% #'7$% '@@,1$2m" QL]"<C" l!"#$% /0'F$1"% +C(60$2mK"aZURN" [ZN" _SLNM"aNPN1"!"#$%,.&,;,&(6*% B'.$+2" lTRSMN]IcR\NmK" !"#$% &$/60"7$."6*% B'.$+2" lM[QcRNIPN]mK" !"#$%/0'F$1"%B'.$+2"l\LM[QcRNIWNRRSamK"QL]"YULQRRW"[ZN"!1'77(.6*%B'.$+2"lSXNLI^PNNLm+"3QTZ"_SLN"aQM"VQPbN]"aU[Z"TSRSPM" [ZQ["PNXPNMNL[N]" [ZN"QT[UOU[UNM" [ZQ["TSLM[U[\[N]"[ZN"VS]NRM+""".Y[NP"[ZN"[ZPNN"VS]NRM"aNPN"XPNMNL[N]"[S"QL]"]UMT\MMN]"aU[Z".PbU[NVQHM"^PS\X"

SY" XQP[LNPMK" U["aQM" ]NTU]N]" [S" Y\P[ZNP" ]NONRSX"<C" l!"#$% /0'F$1"% +C(60$2mK" QM" [ZN"[WXN" SY" SP^QLU_Q[USL" [ZN" LNa" c\UR]UL^" MZS\R]" QTTSVVS]Q[N+" .M" UL]UTQ[N]" UL" U[M"[U[RNK" [ZN"VS]NR"\MN]"/0'F$1"+"PQ[ZNP"[ZQL"&$/60"7$."+"QM"[ZN"XSUL["SY"]NXQP[\PN"UL"[ZN"MXQ[UQR"SP^QLU_Q[USL"SY"[ZN"YUPVHM"QT[UOU[UNM+"%ZUM"SP^QLU_UL^"XPULTUXRN"VU^Z["cN"TSLMU]NPN]" Q" M\cM[QL[UQR" MZUY[K" aU[Z" PN^QP]M" [S" .PbU[NVQHM" [PQ]U[USLQR" M[P\T[\PNK"aZNPN"XPSdNT[M"aNPN"ULTR\]N]"UL"[ZN"]NXQP[VNL[MK"aZUTZ"YSPVN]"[ZN"YUPVHM"SONPQRR"M[P\T[\PQR" MXULN+" <C" UL]UTQ[N]" Q" YST\M" SL" !"#$% /0'F$1"% B'.$+2K" ]NMTPUcN]" QM"!(.+"6)*$% 6.&% 1#6.-$6)*$2" QL]" QRMS" SL" [ZN"!1'77(.6*% B'.$+2" TZQPQT[NPU_N]" QM"!'/$.2K"aZUTZ"M[PN[TZN]"[ZPS\^Z"[ZN"aSPb"QPNQ+"-S[Z"_SLNM"VU^Z["TSLLNT[" [S"[ZN"^NLNPQR"LS[USL"SY"XPSdNT[M"QM"cNUL^"[NVXSPQPW"QL]"TSVXRN`"UL"[ZNUP"TSLM[U[\[USLK"UL"aZUTZ" !10'++N&,+1,/*,.60,"82" QL]" !,."$0+$1",'.2" VU^Z[" cN" TSLMU]NPN]" TNL[PQR"RULNQVNL[M+"""%ZN"N`QVXRN"URR\M[PQ[NM"ZSa"[ZN"XPSTNMM"]NMU^LNP"QL]"[ZN"QPTZU[NT["Q[[NVX[N]"[S"

cPUL^" [ZN"VQ[NPUQR"XPS]\TN]" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM" UL[S"XRQW+"%ZUM"VQ[NPUQR"aQM" cPS\^Z[" YSP[Z" cW" [ZN".PbU[NVQ" M[QYYK" UL" SP]NP" [S" ]NMTPUcN" [ZNUP" XPQT[UTN" UL" Q"MXQ[UQR" XNPMXNT[UON+"2NPNK" [ZN" [NQV" [PUN]" [S"^S" YPSV" [ZN"XPS]\TN]"VQ[NPUQR" [S" [ZN"[PQLMRQ[USL"XPSTNMM"QL]"cQTb1"[S"[PQLMRQ[N"[ZN"PNM\R["YPSV"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"SL"[ZN"cQMUM"SY"[ZN"XPSdNT[HM"cQMUT"TSL]U[USLM+".bPUTZ"TZQPQT[NPU_NM"[ZUM"TSL[UL\S\M"TPUMMTPSMM" cN[aNNL" [ZN" ]UYYNPNL[" RQWNPM" UL" [ZN" PNRQ[USLMZUX" cN[aNNL" ]NMU^LNP" QL]"\MNP"UL"[ZN"YSRRSaUL^"aQW1"""u7N"ZQON"[S"^S"cQTb"QL]"YSP[Z"TSL[UL\QRRW"cN[aNNL"[ZN"]NMU^LNP"QL]"[ZN"\MNPK"

cN[aNNL" [ZN" ]NMU^LNPxM" XPSdNT[N]" \MNP" QL]" [ZN" PNQR" \MNPK" cN[aNNL" "#$% :'0*&%,.+10,)$&%,.%"#$%')F$1"%QL]""#$%:'0*&%&$+10,)$&%)8%,"+%&,+/*61$7$."+"=SP"U["UM"UL"[ZUM"

9F9""

ULTNMMQL[" OQPUQ[USL" [ZQ[" aN" Sc[QUL" QTTNMM" [S" [ZN" TP\TUQR" PNRQ[USLMZUXM1" [ZN" \MNPxM"PNQT[USLM"[ZQ["^UON"cS]W"[S"[ZN"]NMU^LNPxM"XPSdNT[K"QL]"[ZN"aQW"UL"aZUTZ"[ZN"\MNPxM"PNQR"NLOUPSLVNL["UM"UL"XQP["MXNTUYUN]"cW"[ZN"UL[PS]\T[USL"SY"Q"XUNTN"SY"Nh\UXVNL[u"l.bPUTZ"!AA91"9EAm+"""2NPNK" U[" UM" UL]UTQ[N]" [ZQ[" [ZN" \MNP" LNTNMMQPURW" TZQL^NM" UL" [ZN" TS\PMN" SY" [ZN"

XQP[UTUXQ[USL"QT[UOU[UNM+"%ZQ["[ZN"ULX\["YPSV"[ZN"\MNP"VQW"TSL[PUc\[N"[S"ULMTPUcN"[ZN"l]NMU^Lm"ScdNT[K"aZUTZ"UM"XPS]\TN]"cW"[ZN"]NMU^LNP"QL]"ULYSPVN]"cW"[ZN"\MNP+"-\["QRMSK"[ZQ["q[ZN"PNQR"\MNPr"LNTNMMQPURW"PNXPNMNL[M"TSL[UL\S\M"]UMXRQTNVNL[MK"cQMN]"SL"[ZN"N`TZQL^NM"U["UM"VQ]N"M\cdNT["[S+"""%ZN" [NQV" [PQLMRQ[N]" [ZUM" TSVXRN`" VQ[NPUQR" QL]" YSPVN]" U[" UL[S" Q" MXQ[UQR"

]UMXSMU[USLK" XQPQRRNR" [SK" QL]" UL" TSPPNMXSL]NLTN" aU[Z" [ZN" TSLT\PPNL[" ]NONRSXVNL["[ZQ[" [SSb"XRQTN" UL" [ZN"N`[NPUSP"]NMU^L"XPSTNMM+"%ZNW"Q]]N]"SL[S" [ZN"TUPT\RQ[USL"SY"[ZN"ZNRU`K"QL]"QRRSaN]"OQPUS\M"ONPMUSLM"SY"[ZUM"VN[QXZSP"[S"[QbN"MZQXN"UL"QL"UL[NPUSP"RQWS\[" [ZQ[" TS\R]" M\XXSP[" MSVN" SY" [ZN" XPUSPU[U_N]" U]NQM" [ZQ[" .PbU[NVQ" QM" Q" YUPV"QUVN]" [S" X\PM\N" l!5.':*$&-$% +#60,.-2" QL]% !10'++N&,+1,/*,.60,"82m+" .RMSK" [ZNW"Q[[NVX[N]" [S" M\XXSP[" [ZN" N`XNPUVNL[" [ZQ[" [ZN" <UbQ]S" 2S\MN" XPSdNT[" QUVN]" [S"Q]]PNMMK" aU[Z" PN^QP]M" [S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 2NPNK" [ZNW" \L]NP[SSb"[PQLMRQ[USLM"SY"[ZN"VQ[NPUQR"UL"Q"V\[\QR"XPSTNMMK"aZNPN"[ZNUP"]UYYNPNL["XNPMXNT[UONM"aNPN"cPS\^Z["UL[S"XRQW+"%ZPS\^Z"[ZUM"QXXPSQTZ"[ZNW"QUVN]"[S"N`XQL]"[ZNUP"TQXQTU[W"[S"\L]NPM[QL]"QL]"N`XRSPN"]UYYNPNL["TSLTNX[M"QL]"U]NQMK"QL]"[ZNPNcW"[S"YSPV"ULX\[M"[S"Q"]NMU^L"MSR\[USL+"".M"aN"ZQON"MNNL"QcSONK"[ZN"SP^QLU_N]"XQP[UTUXQ[USL"QT[UOU[UNM"ULOSRON]"Q"PQL^N"

SY"QT[SPM"[ZQ[K"UL"]UYYNPNL["aQWMK"TSL[PUc\[N]"[S"XPS]\TN"VQ[NPUQRK"QRR"SY"aZUTZ"TQL"cN"MNNL"QM"Q"XQP["SY"[ZN"]NMU^L"XPSTNMM+"%ZNMN"QT[SPM"YSPVN]"OQPUS\M"LN[aSPbMK"QL]"Q" XQP[UT\RQP" TZQUL" SY" QMMSTUQ[USL" MNNVN]" [S" ZQON" XRQWN]" Q" MXNTUQR" PSRN" UL" [ZN"NVNP^NLTN" SY" [ZN" ]NMU^L" MSR\[USL+" %ZN" XSUL[" SY" PNYNPNLTN" UL" [ZUM" TZQUL" aQM" [ZN"ZNRU`K"aZUTZ" [SSb"SL"]UYYNPNL[" MZQXNM" QL]"XSMU[USLM" [ZPS\^ZS\[" [ZN" TS\PMN"SY" [ZN"XPSdNT[+"2NPNK"[ZN"ZNRU`"TQVN"[S"PNXPNMNL["Q"L\VcNP"SY"QMXNT[M"[ZQ["[ZN"SP^QLU_Q[USL"aQL[N]" [S" cN" QMMSTUQ[N]" aU[Z1" !5.':*$&-$% +#60,.-2K" !10'++N&,+1,/*,.60,"82" QL]"VSPN+" %ZN" UVQ^N" UM" cQLQR1" cW" aQRbUL^" [ZN" ZNRU`K" QM" Q" M[P\T[\PN" [ZQ[" TSLMUM[M" SY"TSL[UL\S\M" MNPUNM" SY" RSSXMK" TPSMMPSQ]M" QL]" UL[NPMNT[USLMK" WS\" VNN[" XNSXRN" QL]"NL^Q^N" UL" NONL[M" SL" [ZN" aQW" [ZQ[" WS\" aS\R]LH[" ZQON" VN[" UL" Q" [PQ]U[USLQRRW"

9FC""

]UM[PUc\[N]" SYYUTN" c\UR]UL^+" 2NPNcWK" [ZN" LS[USL" SY" MZQPUL^K" TPSMMUL^K" UL[NPMNT[UL^K"TQL"cN"NLOUMQ^N]+"""

$2%&!2*+#&")&*44"!+*$+"#4&(%=+4+$%,1&5+$2"-$&!"#$+#-*$+"#C&$2%&(%)%(%#!%&.(%*/4&

.M" UL]UTQ[N]" UL" [ZN" XPNOUS\M" MNT[USLM" lB." QL]" B-mK" LS[" SLRW" ]U]" [ZN"TSRRQcSPQ[USLQR" XPScRNVM" UL" [ZN" ]NMU^L" [NQV" TSL[UL\NK" [ZN" ^NLNPQR" VQPbN[" YSP"c\UR]UL^"]NMU^L"QRMS" TZQL^N]"M\cM[QL[UQRRW"]\PUL^" [ZN" TS\PMN"SY" [ZN"XPSdNT[+"$Na"ULONM[SPM"aNPN" cPS\^Z[" SL" cSQP]" QL]" [ZN" XPSdNT[" QM" Q" \LU["aQM" NLRQP^N]1" YPSV" Q"BEEE" V9" ]SVUTURN" aZNPN" .PbU[NVQ" aQM" [ZN" TRUNL[K" [S" Q" RQP^N" 9CEEE" V9" SYYUTN"c\UR]UL^"aU[Z"MNONPQR"Y\[\PN"TRUNL[M"QL]"XS[NL[UQR"NL]"\MNPM+""".M"VNL[USLN]"SL"MNONPQR"STTQMUSLM"QcSONK"[ZN"N`[NLMUSL"PQ]UTQRRW"TZQL^N]"[ZN"

XPSdNT[+"%ZN"]NMU^L"XPSMXNT["aU[Z"[ZN"]S\cRN"ZNRU`"QM"[ZN"XSUL["SY"]NXQP[\PN"[\PLN]"S\[" YULQLTUQRRW" ULYNQMUcRNK" QL]" [ZN" SPU^ULQR" ]NMU^L" [NQV" aQM" ]UMMSRON]" k" [S" cN"PNXRQTN]"cW"S[ZNP".PbU[NVUQL"QPTZU[NT[M+"#L"[ZN"MNTSL]"XZQMN"SY"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"XPSTNMM"]NMU^LNPM"aNPN"LS["ULOSRON]"QM"Q"XQP["SY"[ZN"]NMU^L"[NQVK"QL]"[ZN"]NXQP[VNL["SY"XPSTNMM"]NMU^LK"NONL[\QRRW"TRSMN]+".R[ZS\^Z"Q"YNa"Q[[NVX[M"aNPN"VQ]N" [S"cPUL^" PNM\R[M" YPSV" [ZN"SPU^ULQR"XQP[UTUXQ[USL" QT[UOU[UNM" cQTb" UL[S" [ZN"LNa"XPSdNT[K" [ZN" TSLLNT[USL"cN[aNNL" [ZNMN" YQT[SPM" QL]" [ZN" M\cMNh\NL["]NMU^L"XPSTNMMK"cQMN]"SL"NMMNL[UQRRW"]UYYNPNL["TSL]U[USLMK"]U]"LS["MNNV"[S"ZSR]+"""

)H!-5D!;:B5@=67@!

7ZQ[" ZQXXNLN]" aU[Z" [ZN" ]NMU^L" U[MNRY" UL" [ZN" MNTSL]" ONPMUSL" SY" [ZN" <UbQ]S"2S\MN" QM" Q" ]NMU^L" PNXPNMNL[Q[USLo" 7U[Z" Q" LNa" ULONM[SP" QL]" QRMS" Q" L\VcNP" SY"\LbLSaL"[NLQL[M"]\N"[S"[ZN"XPSdNT[HM"N`[NLMUSLK"[ZN"TSL]U[USLM"SY"[ZN"XPSdNT["VU^Z["UL]NN]"cN"MQU]"[S"ZQON"TZQL^N]+"#L"[ZUM"LNa"TSL[N`[K".PbU[NVQ"aQM"LS"RSL^NP"[ZN"TRUNL[K"c\["nVNPNRWH"[ZN"QPTZU[NT["QL]"QRMS"[ZN"[NLQL[I\MNP"SY"SLN"XQP["SY"[ZN"ZS\MN+"6\TZ"TZQL^N]"TSL]U[USLM"QPN"RUbNRW"[S"ZQON"TQ\MN]"PNTSLMU]NPQ[USLK"aU[Z"PN^QP]M"[S"

9F;""

[ZN" U]NQ" SY" Q" TRSMNP" PNRQ[USLMZUX" cN[aNNL" QPTZU[NT[" QL]" TRUNL[" UL" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMM+"2SaNONPK".PbU[NVQ"lQM"[ZN"PNMXSLMUcRN"QPTZU[NT["UL"[ZN"XPSdNT[m"M[URR"VU^Z[" cN" MQU]" [S" ZQON" ZQ]" M\cM[QL[UQR" bLSaRN]^N" QcS\[" SLN" SY" [ZN" Y\[\PN"[NLQL[MI\MNPM1"[ZNVMNRONM+"""2NPNK"U["UM"UL[NPNM[UL^"[S"TSLMU]NP"aZN[ZNP"[ZN"PNYNPNLTN"SY"[ZN"ZNRU`"TS\R]"ZQON"

cNNL" bNX[" \X" cQMN]" SL" [ZN" LNa" TUPT\VM[QLTNM" [ZQ[" TSLM[U[\[N]" [ZN" XPSdNT[+" (S"TZQL^NM" UL" [ZN"]NMU^L"TSL]U[USLM"LNTNMMQPURW" TZQL^N" [ZN"XSUL["SY" PNYNPNLTNK"\XSL"aZUTZ"Q"TSLTNX[\QR"]NMU^L"U]NQ"UM"cNUL^"c\UR[o"*S\R]"[ZN"VQ[NPUQR"YPSV"[ZN"SPU^ULQR"XQP[UTUXQ[USL" ZQON" cNNL" cPS\^Z[" UL[S" [ZN" MNTSL]" XZQMN" SY" [ZN" XPSdNT[" QL]" [Z\M"VQUL[QULN]"[ZN"ZNRU`"QM"Q"V\[\QR"PNYNPNLTNo"(S"QR[NPLQ[USLM"UL"Q"]NMU^L"N`XPNMMUSL"LNTNMMQPURW"VNQL"[ZQ["[ZN"aQW"aN"MNN"[ZN"c\UR]UL^"QRMS"TZQL^NMo"5Q[S\P"LS[NM"[ZQ["[ZN" aQW" [ZQ[" PNYNPNLTNM" aSPb" UM" LS[" [ZPS\^Z" [PQLMYNPNLTNK" c\[" PQ[ZNP" [ZPS\^Z"[PQLMYSPVQ[USLM+"2NPNK"[ZN"ScdNT["Q["M[QbN"^SNM"[ZPS\^Z"MNPUNM"SY"[PQLMRQ[USLM"UL"[ZN"TS\PMN"SY"[ZN"NLTS\L[NPM"[ZNW"U["UM"cNUL^"M\cdNT[N]"[SK"UL"[ZN"XPSTNMM+"""

OH!&45!A49;:!6G!9@@6A;9=;6:!PC@=!R5!75B57@;R>5!

#L" [ZUM"XPSdNT[K" [ZN"]NMU^L" [NQV"aNL[" [ZPS\^Z"Q"M\cM[QL[UQR" M[P\^^RN" [S" PNQTZ"Q"V\[\QR"\L]NPM[QL]UL^"SY"[ZN"ZNRU`"QM"Q"TNL[PQR"XSUL["SY"PNYNPNLTN"UL"[ZN"TSLTNX[\QR"]NONRSXVNL[+" 7ZNL" [ZN" ZNRU`" aQM" U]NL[UYUN]K" U[" PNRSTQ[N]" QL]" V\[Q[N]" [ZPS\^Z"L\VNPS\M"ONPMUSLMK"QM"#"ZQON"URR\M[PQ[N]"QcSON"UL"[ZUM"MNT[USL+"#L"[ZNMN"XPSTNMMNM"SY"[PQLMRQ[USL"[ZQ["STT\P"UL"[ZN"PNRQ[USLMZUXM"cN[aNNL"]NMU^LNPM"QL]"\MNPMK"[ZN"VQ[NPUQR"LQ[\PQRRW" M\YYNPM" PN]\T[USLM+" %ZNMN" PN]\T[USLM" TZQL^N" [ZN" VQ[NPUQRHM" QXXNQPQLTNK"c\["[ZNW"QRMS"^UON"aQW"[S"L\VNPS\M"LNa"ONPMUSLM+"q7ZQ["aN"RSMN"UL"VQ[[NP"[ZPS\^Z"M\TTNMMUON"PN]\T[USLM"SY"[ZN"MSURK"aN"PN^QUL"Q"Z\L]PN]YSR]"UL"[ZN"cPQLTZUL^"SYY"[S"S[ZNP" YSPVM" [ZQ[" M\TZ" PN]\T[USLM" k" aPU[[NLK" TQRT\RQ[N]K" QL]" QPTZUOQR" k" VQbN"XSMMUcRNr"MQWM"5Q[S\P" l!AAA1"FFm+"2N"XPSXSMNM" [ZQ[" [ZNMN"XPSTNMMNM" YSPV"Q"TZQULK"M[Q^NM"[ZQ["[ZN"VQ[[NP"P\LM"[ZPS\^Z"UL"[ZN"TS\PMN"SY"[ZNUP"]NONRSXVNL[+".L"N`QVXRN"SY"M\TZ"Q"TZQUL"TS\R]"cN"MNNL"UL"[ZN"S\[RULN"SY"%ZN"<QP^\NPU[N"&S\[NK"XPS]\TN]"cW"[ZN" QPTZU[NT[" QL]" XPSTNMM" ]NMU^LNPK" cQMN]" SL" [ZN" VQ[NPUQR" YPSV" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM+""".L"UVXSP[QL["QMXNT["SY"[ZUM"TZQUL"UM"U[M"cURQ[NPQR"h\QRU[W1"q.L"NMMNL[UQR"XPSXNP[W"

SY" [ZUM" TZQUL" UM" [ZQ[" U["V\M[" PNVQUL"0$;$0+,)*$+"%ZN" M\TTNMMUSL"SY" M[Q^NM"V\M[" cN"[PQTNQcRNK"QRRSaUL^"YSP"[PQONRM"UL"cS[Z"]UPNT[USLMr"l5Q[S\P"!AAA1"BAm+"#L"[ZN"<UbQ]S"

9FF""

2S\MN"XPSdNT[K"[ZN"PNYNPNLTN"SY"[ZN"ZNRU`"VU^Z["cN"MQU]"[S"ZQON"ZQ]"[ZN"qPNONPMUcRNr"h\QRU[WK" TQRRN]" YSP+" #[" PNQTZN]" cQTbaQP]M" [S" TNP[QUL" .PbU[NVUQL" QMXUPQ[USLM"l!5.':*$&-$% +#60,.-2K" !10'++N&,+1,/*,.60,"82" QL]" VSPNmK" QL]" [S" TSL[NVXSPQPW"[NL]NLTUNM" QL]" TZQRRNL^NM" QTbLSaRN]^N]" cW" [ZN" YUNR]" SY" QPTZU[NT[\PQR" ]NMU^LNPM+".RMSK" U[" [SSb" \X" QL]" Y\P[ZNP" N`XRSPN]" U]NQM" QL]" TSLMU]NPQ[USLM" QP[UT\RQ[N]" cW" [ZN"NL]" \MNP" PNXPNMNL[Q[UONMK" UL" [ZN" TS\PMN" SY" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM+" #[" aQM" Q"PNYNPNLTN" [ZQ[" TS\R]"VScURU_N" NLS\^Z" M[PNL^[Z" QL]" M\XXSP[" [S" PNQTZ" YSPaQP]" QL]"TSL[UL\N"[S"]NONRSX+""'

TH!&45!A49;:!R759L@!

-\["[ZN"TZQUL"TQL"SLRW"VQUL[QUL"QM"RSL^"QM"[ZN"PNYNPNLTN"TSL[UL\NM"[S"TUPT\RQ[N+".M"NRNT[PUTU[W"[ZPS\^Z"Q"aUPNK"U["SLRW"aSPbM"UY"[ZN"TUPT\U["UM"LS["UL[NPP\X[N]"l5Q[S\P"!AAAm+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"ZSaNONPK" U["MNNVM"[ZQ["Q"L\VcNP"SY"VSPN"SP"RNMM" TSLT\PPNL[" ULM[QLTNM" TQ\MN]" Q" cPNQb]SaL" SY" [ZN" ZNRU`" QM" Q" ^NLNPQR" XSUL[" SY"PNYNPNLTN+" %ZNPN"aNPN" [ZN" YQT[\QR" TZQL^NM" [ZQ[" [ZN" XPSdNT[" S\[RULN"aNL[" [ZPS\^ZK"aZNL" [ZN" ULONM[VNL[" SY" [ZN" c\UR]UL^" aNL[" YPSV" .PbU[NVQ" [S" N`[NPLQR" XPSXNP[W"VQLQ^NPM+"2NPNK".PbU[NVQHM"SPU^ULQR"QMXUPQ[USLM"QL]"[ZN"TSVVNPTUQR"QVcU[USLM"SY"[ZN"LNa"ULONM[SPM"]U]"LS[K"QM"M\TZK"TSPPNMXSL]+".M"SLN".PbU[NVQ"QPTZU[NT[K"TRSMNRW"ULOSRON]"UL" [ZN"YUPM["]PQY["SY" [ZN"<UbQ]S"2S\MN"XPSdNT[K"XSUL[M"S\[" UL"QL"ULYSPVQR"TSLONPMQ[USL1"""!G#$%.$:%,.;$+"'0+%:$0$%.'"%,."$0$+"$&%,.%(+$0%/60",1,/6",'.%6.&%:#6"%,"%"65$+%

"'%-$"%"#6"%/$0+/$1",;$%,.;'*;$&A%E'%"#$8%76&$%6%1*$6.%1("A2"""-W" [ZN" N`XPNMMUSL"!6% 1*$6.% 1("2" MZN" UL]UTQ[NM" [ZQ[" [ZN" ]NMU^L"XPSTNMM" M[QP[N]"

YPSV" MTPQ[TZ" aZNL" [ZN" LNa" ULONM[SPM" [SSb" SONP" [ZN" XPSdNT[+" 2NPNK" [ZUM" QPTZU[NT["bLNa"[ZQ["[ZN"ZNRU`"ZQ]"XPNOUS\MRW"^SLN"[ZPS\^Z"OQPUS\M"[PQLMYSPVQ[USLM+"6ZN"QRMS"bLNa" [ZQ[" [ZN" ZNRU`" PNQTZN]" cQTb" [S" [ZN" GURLU\M" aSPbMZSXMK" [ZN" M\cMNh\NL["XQP[UTUXQ[USL" QT[UOU[UNMK" [ZN" Q[[NVX[M" [S" ^N[" [ZN" ]NMU^L" XPSTNMM" UL[S" VS[USLK" QL]"VSPN+"%ZNMN"aNPN"QRR"RULbM"UL"[ZN"TZQUL+"%ZNPN"VU^Z["ZQON"cNNL"TSZNPNLTN"cN[aNNL"[ZN" QMXUPQ[USLMK" \XSL"aZUTZ" [ZN" XPSdNT["aQM" MN[" S\[K" QL]" [ZN" ]NMU^L" MSR\[USL" [ZQ["NONL[\QRRW"NVNP^N]+"-\["aU[Z"[ZN"!1*$6.%1("2"VQ]N"cW"[ZN"LNa"ULONM[SPMK"[ZN"TZQUL"^S["]UMP\X[N]1"""

9FB""

!M#6"%"#$8%-$"%.':%,+%6.%'0&,.608%'@@,1$%)(,*&,.-A%3"%7,-#"%)$%6%@,.$%#'(+$9%)("%,"4+%#60&%"'%16"1#%+,-#"%'@%"#$%/0'1$++%:$%:$."%"#0'(-#2"[ZN"MQVN"QPTZU[NT["PNVQPbM"RQ[NP"UL"[ZN"MQVN"TSLONPMQ[USLK"aZNPN"MZN"PNYNPM"[S"[ZN"YULQR"]NMU^L"MSR\[USL+"""(UQ^PQV"!9"URR\M[PQ[NM"ZSa"[ZN"TZQUL"SY"PNYNPNLTN"MNNVM"[S"cPNQb"cW"[ZN"NL]"SY"

[ZN" YUPM[" XZQMN" SY" [ZN"<UbQ]S"2S\MN+".M" [ZN" ]UQ^PQV" UL]UTQ[NMK" TNP[QUL" NRNVNL[M"VU^Z["cN"cPS\^Z["SONP"YPSV"[ZN"YUPM["XZQMN"[S"[ZN"MNTSL]K"c\["[ZN"SONPQRR"QMXUPQ[USL"SY" Q" V\[\QR" QL]" PNTUXPSTQR" ]NMU^L" XPSTNMM" cN[aNNL" [ZN" SP^QLU_Q[USLQR" QL]" [ZN"QPTZU[NT[\PQRK"NM[QcRUMZN]"[ZPS\^Z"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USLK"aQM"^SLN+""

"3GHIJHK',8'MZSaM"[ZN"cPNQb"cN[aNNL"[ZN"[aS"XZQMNM"UL"[ZN"]NMU^L"XPSTNMM+""

"".Y[NP" [ZN"YSPVQR" [QbNSONP"SY" [ZN"<UbQ]S"2S\MN"QM"QL" ULONM[VNL[K" [ZN"SPU^ULQR"

]NMU^L"[NQV"NONL[\QRRW"]UMMSRON]+"%ZN"QPTZU[NT[M"ULOSRON]"UL"[ZN"XPSdNT["aU[Z]PNa"QL]" U[" aQM" ]NTU]N]" [ZQ[" [ZN" c\UR]UL^" aS\R]" cN" ]NMU^LN]" QL]" ]NONRSXN]" YPSV".PbU[NVQHM".QPZ\M"SYYUTN+"2NPNK"[ZN"QP^\VNL["aQM"[ZQ["[ZN"YSP[ZTSVUL^"\MNPM"QL]"[ZN"PNMXSLMUcRN"QPTZU[NT[M"MZS\R]LH["cN"PNXPNMNL[N]"cW"[ZN"MQVN"^PS\X"SY"XNSXRN+"""%ZNPN"aNPN"QRMS"S[ZNP"YQT[SPM"[ZQ["VQW"XS[NL[UQRRW"ZQON"TSL[PUc\[N]"[S"cPNQb"[ZN"

ZNRU`K" QM" SLN" SY" [ZN" XPSdNT[HM" ^NLNPQR" XSUL[M" SY" PNYNPNLTN+" %ZN" TSVXRUTQ[N]"TSRRQcSPQ[USL" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPM" SY" [ZN" ]NMU^L" [NQV"]UMT\MMN]" UL" [ZN" XPNOUS\M" MNT[USL" VU^Z[" UL" U[MNRY" PNXPNMNL[" Q" PNQMSL+" %ZNUP"TSRRQcSPQ[USLQR" N`XNPUVNL[" aQM" QL" NL]NQOSP" [ZQ[" aQM" ]UYYUT\R[" [S" XRQLK" N`NT\[NK"]ST\VNL[" QL]" NOQR\Q[N+" %ZN" ]ST\VNL[Q[USL" VQ[NPUQR" [ZQ[" PNXPNMNL[N]" [ZUM" YUPM["XZQMN" SY" [ZN" <UbQ]S" 2S\MN" XPSdNT[" VU^Z[" ZQON" cNNL" M\cM[QL[UQR" UL" PN^QP]M" [S"OSR\VNK"c\["U["VU^Z["QRMS"PNYRNT["[ZN"]UYYUT\R[UNM"[ZQ["STT\PPN]"UL"[ZN"QT[\QR"NONL[M+".M" [ZN"VQ[NPUQR"aQM"]UYYUT\R[" [S" [PQLMRQ[N" QL]" TQ[N^SPU_NK" U["VU^Z[" QRMS"cN" MQU]" [S"ZQON"cNNL"]NXNL]NL["SL"[ZN"XNSXRN"ULOSRON]"UL"U[M"XPS]\T[USL"XPSTNMM+"#L"[ZUM"aQW"

9F?""

Q"[PQLMYNPNLTN"YPSV"[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT["[S"[ZN"MNTSL]K"VQW"ZQON"cNNL"ZQP]"[S"SP^QLU_N+""".RMSK" N`[NPLQR" YQT[SPM" M\TZ" QM" [ZN"VQPbN[" MU[\Q[USL"VU^Z[" ZQON" TSL[PUc\[N]" [S"

cPNQbUL^"[ZN"TZQUL"SY"QMMSTUQ[USLM+"=UPM[K"[ZN"YULQLTUQR"TZQL^NM"[ZQ["[ZN"XPSdNT["aNL["[ZPS\^Z" ZQON" TRNQPRW" ULYR\NLTN]" [ZN" YST\M" [ZQ[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" aNPN"^UONL+"2NPNK"[ZN"M\cM[QL[UQR"T\["cQTb"VU^Z["QRMS"ZQON"VNQL["QL"ULTPNQMN]"]UM[QLTN"UL" [ZN" Q[[U[\]N" [SaQP]M" [ZN" bUL]" SY" N`XNPUVNL[" [ZQ[" [ZN" <UbQ]S" 2S\MN" XPSdNT["PNXPNMNL[N]"UL[NPLQRRW" UL".PbU[NVQ+"6NTSL]K" [ZN"LNa"ULONM[SPM"ZQ]"S[ZNP" U]NQM"YSP"[ZN" ZS\MN+" %ZNMN" aNPN" XPSXNP[W" ULONM[SPMK" aU[Z" Q" TSVVNPTUQR" X\PXSMNK" LS[" aU[Z"QMXUPQ[USLM"[S"N`XQL]"[ZN"QPTZU[NT[\PQR"XPS]\T["cW"SP^QLU_Q[USLQR"VNQLM+".RR"UL"QRRK"aN"VU^Z["MQW"[ZQ["[ZN"LN[aSPb"SY"YQT[SPM"[ZQ["VQ]N"\X"[ZN"TZQUL"SY"QMMSTUQ[USL"[ZQ["VQ]N"[ZN"ZNRU`"TUPT\RQ[NK"TP\VcRN]+"""".LS[ZNP"TSL]U[USL"[ZQ["VU^Z["ZQON"ULYR\NLTN]"[ZN"PNYNPNLTN"cPNQb]SaL"aQM"[ZQ["

.PbU[NVQHM" ]NXQP[VNL[" SY" XPSTNMM" ]NMU^L"TRSMN]"]SaL" QM" Q" \LU[" MZSP[RW" QY[NP" [ZN"YUPM["]PQY["SY"[ZN"]NMU^L"MSR\[USL"aQM"PNdNT[N]K"QL]"[ZN"N`[NPLQR"ULONM[SPM"ZQ]"[QbNL"SONP"[ZN"XPSdNT[+".R[ZS\^Z"[ZN"LNa"]NMU^L"[NQV"VQ]N"TNP[QUL"NYYSP[M"[S"PNUL[PS]\TN"MSVN"SY"[ZN"PNM\R[M"YPSV"[ZN"SPU^ULQR"XQP[UTUXQ[USL"QT[UOU[UNMK"[ZNMN"Q[[NVX[M"MNNVN]"]UYYUT\R[" [S"VQLQ^N"aU[ZS\["Q"nVNMMNL^NPH" [S"^N[" [ZN"VQ[[NP"cQTb" UL[S"TUPT\RQ[USL+".M" aN" bLSa" YPSV" [ZN" XPNOUS\M" MNT[USLK" [ZN" XPSTNMM" ]NMU^LNPHM" QXXPSQTZ" [S" [ZN"]NMU^L" XPSTNMM" ULOSRONM" [ZQ[" [ZN" VQ[NPUQR" XPS]\TN]" cW" [ZN" NL]" \MNPM" MZS\R]K" UL"^NLNPQRK"cN" nRQM[UL^H+"-W" [ZQ[" #"VNQL" [ZQ[" [ZN"VQ[NPUQR"TS\R]"cN"\MN]"Q^QUL"k" UL"Q"LNa" XZQMN" SY" [ZN" XPSdNT[+" 2NPNK" .PbU[NVQ" aS\R]" M[URR" cN" [ZN" [NLQL[K" aZSMN"SP^QLU_Q[USLQR" XPQT[UTN" aS\R]" cN" Q[" M[QbN" UL" [ZN" c\UR]UL^+" %ZN" YQT[" [ZQ[" [ZN"QPTZU[NT[MK" aZS" ]PNa" [ZN" RULNM" SY" [ZN" c\UR]UL^" QM" Q" TSLM[P\T[USLK" TZQL^N]" UL" [ZN"TS\PMN"SY"[ZN"XPSdNT[K"aS\R]"k"UL"[ZUM"QXXPSQTZ"k"LS["VNQLK" [ZQ[" [ZN"VQ[NPUQR"aQM"\L\MQcRN+""#L" .PbU[NVQ" [S]QWK" YQTURU[Q[N]" aSPbMZSXM" aU[Z" NL]" \MNPM" QL]" [ZN" XS[NL[UQR"

PNMS\PTN" [ZQ[" M\TZ" XPSTNMMNM"VU^Z[" PNXPNMNL[K" ZQON" cNTSVN" Q" XQP[" SY" [ZN" ^NLNPQR"]NMU^L"XPQT[UTN"YSP"MSVN"SY"[ZN"YUPVHM"QPTZU[NT[M+"-\["YSP"VSM["SY"[ZN"M[QYYK"N`[NL]N]"TSL[QT["aU[Z"[ZN"TRUNL["QM"Q"nTSVXS\L]"cS]W"SY"\MNPMH"ZQM"LS["WN["cNNL"NM[QcRUMZN]"QM"QL"UL[N^PQ[N]"XQP["SY"[ZN"^NLNPQR"XPQT[UTN+"""

9F,""

]H!2=67Q!P9==57@*!=9>L;:8!=45!9@@6A;9=;6:!;:=6!R5;:8!

7S\R]"U["ZQON"cNNL"XSMMUcRN"[S"ZQON"bNX["[ZN"TUPT\RQ[UL^"PNYNPNLTN"^SUL^"SL"[ZN"cQMUM"SY"[ZN"LNa"]NMU^L"TSL]U[USLMo"#L"TSVXRN`"TSL[N`[M"M\TZ"QM"SP^QLU_Q[USLMK"[ZN"NM[QcRUMZVNL[" SY" Q" RULb" SP" QL" QMMSTUQ[USL" ]SNM" LS[" MS" V\TZ" PN^QP]" QL" QT[\QR"PNMNVcRQLTN" SP" aZQ[" MSVN[ZUL^" RSSbM" RUbNK" c\[" PQ[ZNP" [ZN" aQW" [ZNMN" QPN" cNUL^"YPQVN]" SP" NLQT[N]+" -QMN]" SL" [ZN" YULQR" ]NMU^L" MSR\[USLK" .PbU[NVQ" M[QYY" ]U]" LS["QMMSTUQ[N"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"[ZNW"aNPN"ULOSRON]"UL"aU[Z"[ZN"]NMU^L"MSR\[USL"[ZQ[" UM" LSa" NVNP^UL^" QM" [ZN"<UbQ]S" 2S\MN" QM" #" aPU[N" [ZUM+" -\[" [ZN" h\NM[USL" UM"aZN[ZNP"[ZN"PNYNPNLTN"TS\R]"ZQON"cNNL"bNX["\X"UL"Q"TSL[UL\S\M"TUPT\RQ[USL+""".M"#"XSUL[N]"S\["UL"[ZN"UL[PS]\T[USL"[S"[ZUM"TZQX[NPK"M[SPW"VQ[[NP"[S"XNPTNX[USL+"

#L" [ZUM" XPSdNT[K" [ZN" TSL]U[USLMK" \XSL"aZUTZ" [ZN" ]NMU^L" XPSTNMM" aQM" cNUL^" cQMN]K"TZQL^N]+" -\[" [ZN" aQW" [ZQ[" M\TZ" TSL]U[USLMK" PNh\UPNVNL[M" QL]" [NPVM" QPN" cNUL^"YPQVN]K"QRMS"MU^LUYUTQL[RW" ULYR\NLTN" [ZN"aQW" [ZNW"QPN"TSVXPNZNL]N]"QL]"NLQT[N]+"%ZN"XSMMUcRN"]UPNT[USLM"QLW"XZNLSVNLSL"TQL"[QbN"UL"[ZN"TS\PMN"SY"M\TZ"[PQLMRQ[USL"QPN"L\VNPS\M+"%ZN"M[P\T[\PNK"SP^QLU_Q[USL"QL]"YQTURU[Q[USL"SY"Q"]NMU^L"XPSTNMM"QRMS"VSR]"[ZN"aQWK"UL"aZUTZ"PNYNPNLTNM"TQL"TUPT\RQ[N"QL]"MNLMNVQbUL^"TQL"[QbN"XRQTN+"*SLMU]NPUL^"[ZN"YULQR"MbN[TZNM"SY"[ZN"<UbQ]S"2S\MN"QL]"[ZN"c\UR]UL^"TSLM[P\T[USL"U[MNRY" QM" U[" LSa"VQ[NPUQRU_NMK" U[" MNNVM" [ZQ[" [ZN" ZNRU`" TS\R]" ZQON" PNVQULN]" QM" [ZN"TNL[PQR"VN[QXZSP"UY"YPQVN]"QM"M\TZ+"""

!3"4+#0&!"88%#$4&

%ZUM"MNT[USL"ZQM"\LYSR]N]"[ZN"M[SPW"QcS\["ZSa"[ZN"]NMU^L"MSR\[USL"YSP"<UbQ]S"2S\MN"NVNP^N]"UL"[ZN"YUPM["XZQMN"SY"[ZN"XPSdNT[+".M"[ZN"XPSdNT["ZNR]"SP^QLU_N]"NL]"\MNP" XQP[UTUXQ[USL" QM" SLN" SY" U[M" TNL[PQR" ]NMU^L" XPNTSL]U[USLMK" [ZN" XQP[UTUXQ[USL"QT[UOU[UNM"[SSb"XRQTN"TSL[UL\S\MRW"QM"Q"XQP["SY"[ZN"XPSdNT[+"-NTQ\MN".PbU[NVQ"UM"QL"QPTZU[NT[\PQR"YUPVK"[ZN"MU[\Q[USL"VU^Z["cN"MQU]"[S"ZQON"cNNL"\LSP[ZS]S`K"QM"[ZN"YUPV"XRQWN]"[ZN"PSRNM"SY"TRUNL["QL]"QPTZU[NT[K"QL]"QRMS"[ZQ["SY"[ZN"XPSTNMM"]NMU^LNPK"aZUTZ"VU^Z["cN" MQU]" [S" PNXPNMNL[" QL" UL]UM[ULT["^PS\X"SY"XPSYNMMUSLQRMK" UL[PS]\TN]" [S" [ZN"YUPV"SL"[ZN"cQMUM"SY"[ZUM"XPSdNT[+"-NTQ\MN"#"QV"RSSbUL^"YSP"nTSLLNT[USLMH"cN[aNNL"SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNMK" [ZUM" QMXUPQ[USL" SY" UL[N^PQ[UL^" Q"

9FA""

LNa" PSRN" UL[S" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" VU^Z[" [Z\M" UL" U[MNRY" PNXPNMNL[" Q"nTSLLNT[USLH+"""%ZN"M[SPW"URR\M[PQ[NM"ZSa"Q"XQP[UT\RQP"VN[QXZSPK"aZUTZ"TQVN"YSP[Z"UL"SLN"SY"[ZN"

YUPM["XQP[UTUXQ[USL"QT[UOU[UNMK"aQM"NM[QcRUMZN]"QM"Q"XSUL["SY"PNYNPNLTN"UL"[ZN"XPSdNT[+"%S"[ZN"]NMU^L"[NQVK"aZS"aNPN"M\cdNT[N]"[S"MU^LUYUTQL["TSRRQcSPQ[USLQR"TZQRRNL^NMK"[ZN"ZNRU`"TQVN"[S"PNXPNMNL["SLN"SY"[ZN"TNL[PQR"TQ[QRW_NPM"[ZQ["MN["[ZN"]NMU^L"XPSTNMM"UL"VS[USL+"#["]U]LH["QM"M\TZ"PNXPNMNL["U[MNRY+"&Q[ZNPK" U["MNNVN]"[S"Q]ONP[" [S"TNL[PQR"QMXUPQ[USLM"[ZQ["aNPN"QXXSUL[N]"UL"NQPRW"]ST\VNL[M"[ZQ["S\[RULN]"[ZN"XPSdNT[K"aZUTZ"]NMTPUcN]" [ZN" YUPVHM" Y\[\PN" XPQT[UTN+" %ZNMN" SP^QLU_Q[USLQR" QMXUPQ[USLM" aNPN" YUPM["[PQLMRQ[N]"UL[S"T\PON]"RSSXM"UL"QPTZU[NT[\PQR"MbN[TZNM"QL]"VS]NRM+"%ZN"ZNRU`"VU^Z["cN"MQU]"[S"ZQON"[PQONRN]"[ZPS\^Z"[ZN"XPSdNT["QM"Q"TQ[QRW_NP"k"Q"PN]"[ZPNQ]"k"[ZQ["[SSb"SL" ]UYYNPNL[" YSPVM" QM" [ZN" XPSdNT[" ]NONRSXN]+" #[" QXXNQPN]" QM" SP^QLU_Q[USLQR"QMXUPQ[USLM"QL]"QPTZU[NT[\PQR"MZQXNMK"aZUTZ"[S^N[ZNP"VQW"cN"MNNL"QM"RULbM"UL"Q"TZQUL"SY"QMMSTUQ[USLM+"%ZN"]UYYNPNL["ONPMUSLM"]U]"LS["RSSb"[ZN"MQVNK"c\["UL"]UYYNPNL["aQWM"[ZNW"MNNVN]"[S"PNYNP"[S"[ZN"ZNRU`"QM"Q"PNXPNMNL[Q[USL+"#L"[ZUM"aQWK"[ZN"ZNRU`"TQVN"[S"PNXPNMNL["n[ZN"V\[\QR"[ZUP]HK"[ZPS\^Z"aZUTZ"TSVV\LUTQ[USL"QL]"TSSP]ULQ[USL"TS\R]"[QbN"XRQTN+"#["PNXPNMNL[N]"Q"nTSLLNT[USLH"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM"QL]"QRMS"Q"aQW"[S"QTTSVVS]Q[N"[ZN"TZQRRNL^NM"[ZQ["STT\PPN]"UL"[ZN"XPSdNT[+"""7ZNL"[ZN"ZNRU`"aQM"N`XRSPN]"QM"QL"QPTZU[NT[\PQR"MZQXNK"U["aQM"ULYSPVN]"cW"[ZN"

YUPVHM" SP^QLU_Q[USLQR" QMXUPQ[USLM" QL]"aSPb" XPSTNMMNM1" PS\[ULNMg" PNRQ[USLMZUXM" QL]"]UYYNPNL["aQWM" SY"aSPbUL^+" #[" XPS]\TN]" QL" QVcU[US\M" N`[NPUSP" ]NMU^L" l[ZN" ]S\cRN"ZNRU`m" QL]" QL" \L[PQ]U[USLQR" UL[NPUSP" ]NMU^L" l[ZN" <QP^\NPU[N" PS\[NmK" aZUTZ" QRMS"UL]UTQ[N]"LNa"aQWM"SY"SP^QLU_UL^"[ZN"YUPVHM"]QURW"XPQT[UTN"l[ZN"<C"VS]NRm+"#L"[ZUM"aQW" aN" VU^Z[" MQW" [ZQ[" [ZN" SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" YNQ[\PNM"TQVN"[S"V\[\QRRW"PNXPNMNL["NQTZ"S[ZNPK"UL" [ZN"TS\PMN"SY" [ZN"XPSdNT[+".R[ZS\^Z"[ZN"TSRRQcSPQ[USL"UL"[ZN"]NMU^L"[NQV"aQM"Q"]UYYUT\R["NL]NQOSP"lTY+"MNT[USL"B-m"QL]"[ZNMN"[aS"]NMU^L"PNXPNMNL[Q[USLM"l%ZN"(S\cRN"2NRU`"QL]"%ZN"<QP^\NPU[N"PS\[Nm"NVNP^N]"UL"MSVNaZQ["MNXQPQ[N"XPSTNMMNMK"[ZN"ZNRU`"VU^Z["cN"MQU]"[S"ZQON"cNNL"[ZN"PNYNPNLTN"[ZQ[" bNX[" [ZNV" [S^N[ZNP+" "2NPNK" [ZN" XQP[UT\RQP" TSRRQcSPQ[USL" cN[aNNL" [ZN" QPTZU[NT["QL]" [ZN"XPSTNMM"]NMU^LNP" [ZQ[" RN]" [S" [ZN" U]NQ"SY" [ZN"!R60-($0,"$%0'("$2"VU^Z["cN"MNNL"QM"Q"PNXPNMNL[Q[UON"YSP"[ZN"RULb+"""2SaNONPK" [ZN"<UbQ]S" 2S\MN" aNL[" [ZPS\^Z" M\cM[QL[UQR" M[P\T[\PQR" TZQL^NMK" QM"

SP^QLU_Q[USLQR"]NONRSXVNL["XPSdNT[M"QL]"TSL[NVXSPQPW"c\UR]UL^"XPSdNT[M"SY[NL"]S+"

9BE""

-QMN]"SL" [ZUM" M[P\T[\PQR" TZQL^NK" [ZN"ZNRU`" TSRRQXMN]"QM" Q"XSUL["SY" PNYNPNLTN+".L]"aU[Z"[ZN"ZNRU`K"[ZN"RULb"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM"QRMS"MNNVN]"[S"TP\VcRN+".M" [ZN" ]NMU^L" [NQV" NONL[\QRRW" ^S[" PNXRQTN]"aU[Z" LNa" M[QYYK" U[" cNTQVN" ZQP]NP" [S"bNNX" [ZN" NVNP^UL^" QPTZU[NT[\PQR" ]NMU^L" QL]" [ZN" VQ[NPUQR" XPS]\TN]" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"[S^N[ZNP+".^QULK"[ZN"TZQUL"SY"QMMSTUQ[USLM"UM"LS["bNX["\X"cW"PNMNVcRQLTN+" -\[" RSSbUL^" Q[" [ZN" lNVNP^UL^m" c\UR]UL^" [S]QWK" U[" UL]NN]" MNNVM"XSMMUcRN"[S"UVQ^ULN"[ZN"MNTSL]"ONPMUSL"SY"[ZN"<UbQ]S"2S\MN"QM"Q"RULb"UL"[ZN"TZQUL"SY"QMMSTUQ[USL" [ZQ["XSUL[N]"cQTb" [S" [ZN"ZNRU`+" #L" [ZUM"aQW" U["TS\R]"XS[NL[UQRRW"QRMS"ZQON" bNX[" \X" [ZN" QMMSTUQ[USL" cN[aNNL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QL]" YULQR"QPTZU[NT[\PQR" ]NMU^L" MSR\[USL+" 7ZNL" [ZUM" ]U]LH[" ZQXXNLK" Q" TNL[PQR" PNQMSL" PQ[ZNP"PNYNPM" [S" [ZN"aQW"[ZN"]NMU^L"XPSTNMM"aQM"YPQVN]K" [ZQL"[S" [ZN"QT[\QR"]NMU^L"PNM\R[+"%ZN"nTSLLNT[USLH"]SNM"LS["PNMU]N"UL"[ZN"]NMU^L"U[MNRYK"c\[" UL"[ZN"XNPMXNT[UONK"YPSV"aZUTZ"aN"OUNa"U[+""" "

9B!""

"#$%&'(!e*!0.2"122.+-!$-0!

"+-"312.+-!

'

+#$(",-!$+"#&

2Sa" ]SNM" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" UL" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM"^NLNPQ[N"nTSLLNT[USLMH"cN[aNNL"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^Lo"%ZUM"aQM"[ZN"PNMNQPTZ"h\NM[USL"#"XPSXSMN]" UL" [ZN" UL[PS]\T[USL" [S" [ZN" [ZNMUMK"QL]" [ZQ[" #"ZQON"Q[[NVX[N]" [S" ]UMT\MM" UL" [ZN" TS\PMN" SY" [ZUM" [N`[+" .M" XSUL[N]" S\[" UL" *ZQX[NP" !K"SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" ZQON" [PQ]U[USLQRRW" cNNL"TSLMU]NPN]" QM" MNXQPQ[N" \LU[MK" UL" [ZN" MNLMN" [ZQ[" [ZNW" ZQON" cNNL" SP^QLU_N]" UL" Q"MNh\NL[UQRRW" ]N[QTZN]" M[P\T[\PN+" %S]QWK" TNP[QUL" MSTUN[QR" [NL]NLTUNM" QL]"PNh\UPNVNL[M"UL]UTQ[N"[ZQ["[ZN"[aS"]NMU^L"XPSTNMMNM"TS\R]"XS[NL[UQRRW"YSPV"Q"TRSMNP"RULb+".M"aN"]S"LS["WN["bLSa"NLS\^Z"QcS\["[ZN"UVXRUTQ[USLM"QL]"SXXSP[\LU[UNM"[ZQ["VU^Z[" ZU]N" UL" [ZNUP" V\[\QR" ULYR\NLTNK" [ZN" QMXUPQ[USL" SY" [ZUM" M[\]W" ZQM" cNNL" [S"XPSOU]N" Q" XRQ[YSPV" [S" Y\P[ZNP" ULONM[U^Q[N" [ZN" RULb+" 6NONPQR" nTSLLNT[USLMH" cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM"QL]"[Z\M"cN[aNNL"[ZN"[aS"]NMU^L"TSLM[U[\[USLMK"ZQON"cNNL"XSUL[N]" S\[" [ZPS\^ZS\[" [ZN" [N`[+" #L" [ZUM" YULQR" TZQX[NPK" #" QUV" [S" XPSOU]N" Q" VSPN"TSL]NLMN]"S\[RULN"SY"MSVN"SY"[ZNMN+""<W"^NLNPQR"UL[NPNM["UL"[ZN"XS[NL[UQR"RULb"cN[aNNL"[ZN"[aS"]NMU^L"YUNR]M"VQ]N"VN"

PNQRU_N"[ZQ["[ZN"QPNQ"SY"n6XQTN"UL"SP^QLU_Q[USL"M[\]UNMH"]SNM"LS["M\YYUTUNL[RW"N`XRSPN"[ZN" UVXRUTQ[USLM" [ZQ[" MXQTN" QL]" QPTZU[NT[\PN"VU^Z[" ZQON" SL" SP^QLU_Q[USLQR" RUYN+" #["ZQM"[Z\M"cNNL"QL"QVcU[USL"YSP"VN"[S"TSL[PUc\[N"[S"[ZUM"PNMNQPTZ"QPNQ+".M"XSUL[N]"S\["UL"MNT[USL"9.K"[ZN"QPNQ"SY"MXQTN"QL]"QPTZU[NT[\PN"UM"UL"U[MNRY"RQP^N"QL]"TSVXRN`K"QL]"[ZN"PNMNQPTZ"TSL[PUc\[USLM"[ZQ["]UMT\MM"MXQTN"UL"QL"SP^QLU_Q[USLQR"TSL[N`[K"PNXPNMNL["Q"M\cM[QL[UQR"OQPUN[W+"%ZNMN"aPU[UL^M"TSONP"QPNQM"M\TZ"QM"SYYUTN"MXQTN"QM"MWVcSRUT"

9B9""

VNQLUL^" TQPPUNP" UL" PN^QP]M" [S" UMM\NM" M\TZ" QM" SP^QLU_Q[USLQR" U]NL[U[WK" XSaNP"M[P\T[\PNM" QL]" TSL[PSRK" SP" QM" Q" VNQLM" [S" M\XXSP[" RN^U[UVQTW" UL" ]NTUMUSL"VQbUL^+".RMSK" [ZNW" XPSOU]N" N`[NL]N]" PNYRNT[USLM" SL" ZSa" MXQTN" VQW" cN" N`XRSPN]" QM" Q"TSLTNX[\QR" [SSRK" [ZPS\^Z" aZUTZ" RUYN" UL" SP^QLU_Q[USLM" VU^Z[" cN" TSVXPNZNL]N]+"2SaNONPK"LS["VQLW"M[\]UNM"QM"WN["MNNV"[S"[QbN"QL"NVXUPUTQR"XSUL["SY"]NXQP[\PN"UL"[ZN" ]UMT\MMUSL" QcS\[" ZSa" XPSTNMMNM" SY" QPTZU[NT[\PQR" QL]" SP^QLU_Q[USLQR" ]NMU^L"VU^Z[" UL" YQT[" UL[NPQT[+" %ZNMN" ]NMU^L" XPSTNMMNM" P\L" XPUSP" [S" QL]" QM" Q" XQP[" SY" [ZN"NM[QcRUMZVNL["SY"Q"XZWMUTQR"MXQTNK"QT[UL^"QM"MTNLNM"YSP"SP^QLU_Q[USLQR"T\R[\PN"QL]"]NONRSXVNL[+" %ZN" M[\]WxM" YST\M" SL" [ZNMN" ]NMU^L" XPSTNMMNM" UM" \LUh\N+" #[" QUVM" [S"\L]NPM[QL]" SP^QLU_Q[USLQR" ]NONRSXVNL[" SL" [ZN" cQMUM" SY" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMNM"[ZQ["NVNP^N]"[ZPS\^Z"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL+"""#L"[ZN"M[\]W"SY"[aS"TSL[NVXSPQPW"c\UR]UL^"XPSdNT[MK"VW"YST\M"ZQM"cNNL"SL"[ZN"

QT[\QR" N`TZQL^NM" cN[aNNL" PNXPNMNL[Q[UONM" YPSV" NQTZ" SY" [ZNMN" ]NMU^L" YUNR]M1"VQLQ^NPM" QL]" M[QYY" PNXPNMNL[Q[UONM" YPSV" [ZN" SP^QLU_Q[USLQRK" QPTZU[NT[M" YPSV" [ZN"QPTZU[NT[\PQRK"QL]"YULQRRW"XPSTNMM"]NMU^LNPMK"aZS"aN"VU^Z["MQW"PNMU]N"MSVNaZNPN"UL"[ZN" VU]]RN+" %ZN" M[\]W" UM" cQMN]" SL" Q" RSL^U[\]ULQR" VUTPSDM[\]WK" aU[ZUL" aZUTZ"SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" ZQM" cNNL" UL[N^PQ[N]" QM" Q" aQW" [S" ULYSPV" [ZN"NVNP^NLTN" SY" [ZN" [aS" ]NMU^LMK" QM" TSLT\PPNL[" QL]" PNTUXPSTQR" XPSTNMMNM+" -W"]UMT\MMUL^" OQPUS\M" NONL[M" [ZQ[" ZQON" [QbNL" XRQTN" UL" [ZN" XPSdNT[MK" #" ZQON" QUVN]" [S"\LYSR]" MSVN" SY" [ZN" UVXRUTQ[USLM" [ZQ[" [ZN" RULb" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM"VQW"TSL[QUL+"%ZN" M[\]WHM"XPNVUMN" TQL" [Z\M"cN" MQU]" [S"cN" M[PSL^RW" NVXUPUTQRK" QL]"TSLTNPLN]"aU[Z" [ZN" TSVXRN`" UL[NPMNT[USL" SY" [aS" RQP^N"]NMU^L" YUNR]M+"=ST\MUL^"SL"[ZN" TSVXRN`U[W" SY" [ZN" NONL[M" ZQM" VQ]N" VN" QXXRW" [ZNSPN[UTQR" TSLTNX[M" UL" Q"MSVNaZQ[" NTRNT[UT" VQLLNP+" <W" QMXUPQ[USL" ZQM" cNNL" [S" ]UMT\MM" QL]" N`XRQUL" [ZN"NVXUPUTQR" NONL[M" [ZQ[" TSLM[U[\[N]"VW"ScdNT["SY" QLQRWMUMK" PQ[ZNP" [ZQL" [S" Y\P[ZNP" [ZN"cS]UNM" SY" [ZNSPW" #" ZQON" \MN]" UL" VW" N`XRSPQ[USL+" %ZN" NVXUPUTQR" VQ[NPUQR" [ZQ["NOSRON]" UL" [ZN" XPSdNT[M" aQM" RQP^NK" QL]" SL" [ZQ[" cQMUM" #" ZQON" PQ[ZNP" Q[[NVX[N]" [S"MTP\[ULU_N" [ZN" TSVXRN`" [ZQ[" aQM" QMMU^LN]" cW" [ZN" PNMNQPTZ" h\NM[USL1" [ZN"U]NL[UYUTQ[USL"SY" [ZN" nTSLLNT[USLMH"cN[aNNL"[ZN" [aS"]NMU^L"XPSTNMMNM+" #L" [ZUM"aQW"aN"VU^Z["MQW"[ZQ["VW"TSL[PUc\[USL"[S"[ZNSPW"]NONRSXVNL["RUNM"UL"VW"]NVSLM[PQ[USL"SY"MNRNT[UL^"QL]"QXXRWUL^"MXNTUYUT"TSLTNX[M"QL]"TSLM[P\T[M"UL"[ZUM"bUL]"SY"]N[QURN]"NVXUPUTQR"aSPb9E+"2NPNK"[ZN"NVXUPUTQR"QXXPSQTZ"ZQM"NLQcRN]"VN"[S"]UMTSONP"TNL[PQR""""""""""""""""""""""""""""""""""""""""""""

9E" 'L" [ZN" cQMUM" SY" [ZN" NVXUPUTQR" YUL]UL^M" QL]" MSVN" SY" [ZN" UL]UTQ[USLM" [ZQ[" [ZN" M[\]W" ZSR]MK" [ZNPN" QPNK"ZSaNONPK"MNONPQR"[ZNSPN[UTQR"]UMT\MMUSLM"[ZQ["MZS\R]"cN"Q]]PNMMN]"UL"M\cMNh\NL["aPU[UL^M+"%ZN"TSLTNX[\QR"U]NQ"SY"<QLQ^UL^"QM"(NMU^LUL^"aS\R]"cN"c\["SLN"N`QVXRN"SY"M\TZ"Y\P[ZNP"]UMT\MMUSLM+"

9BC""

nTSLLNT[USLMH"[ZQ["NVNP^N]"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"%ZNMN"nTSLLNT[USLMH"VU^Z["cN"Q[[QTZN]"[S"[ZN"XQP[UT\RQP"MN[[UL^M"Q["M[QbN"UL"[ZN"[aS"XPSdNT[M"\L]NP"M[\]WK"c\[" [ZNW"ZQON" QRMS" QRRSaN]"VN" [S" \L]NP[QbN" PNYRNT[USLM" [ZQ[" XSUL[" S\[" UMM\NM" [ZQ["MNNV"[S"ULOSRON"YNQ[\PNM"[ZQ["TZQPQT[NPU_N"[ZNMN"[WXNM"SY"XPSdNT[M"SL"Q"VSPN"^NLNPQR"RNONR+""#["MZS\R]"cN"PNXNQ[N]"ZNPN"[ZQ["[ZN"TSLTNX["SY"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"

VU^Z[" cN"aNRR" UL[N^PQ[N]" QTPSMM" [ZN" ]NMU^L" UL]\M[PWK" aZURN" ZQOUL^" Q" ZQP]NP" [UVN"NM[QcRUMZUL^" UL" [ZN" YUNR]" SY" QPTZU[NT[\PQR" ]NMU^L+" -\[" QM" #" ZQON" XSUL[N]" S\[" SL"MNONPQR"STTQMUSLMK"T\PPNL["[NL]NLTUNM"M\cM[QL[UQRRW"MNNV"[S"TZQRRNL^N"[ZUM"MU[\Q[USL+"-\UR]UL^"XPSdNT[M"[ZQ["ULOSRON"N`[NL]N]K"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QPN"[S]QW"NVNP^UL^"UL"(NLVQPbK"NONL"UL"[UVNM"SY"YULQLTUQR"]NTRULN+"2SaNONPK" [ZNPN"ZQM"LS["WN[" cNNL" NM[QcRUMZN]" PU^SPS\M" NVXUPUTQR" PNMNQPTZ" SL" [ZN" UVXRUTQ[USLM" [ZQ[" M\TZ"QT[UOU[UNM"VU^Z["ZQON"SL"[ZN"[aS"]NMU^L"TSL[N`[M"ULOSRON]+"".M"YSP"PNMNQPTZ"SL"[ZN"QPTZU[NT["XPSYNMMUSL"QL]" [ZN"T\PPNL["TZQRRNL^NM" [ZQ["TSL[NVXSPQPW"QPTZU[NT[M"MNNV"[S" cN" YQTN]" aU[ZK" Q" M[PSL^NP" RULb" [S" [ZN" SP^QLU_Q[USLQR" YUNR]" VU^Z[" XS[NL[UQRRW"TSL[PUc\[N"[S"[ZUM"QPNQ+"-QMN]"SL"N`XNPUNLTNM"YPSV"VW"SaL"M[\]WK"#"XPSXSMN"[ZQ["QL"N`[NL]N]" TSRRQcSPQ[USL" cN[aNNL" SP^QLU_Q[USL" M[\]UNM" QL]" QPTZU[NT[\PQR" [ZNSPW"aS\R]"cN"QXXPSXPUQ[N+"""#L"[ZN"YSRRSaUL^K"#"QUV"[S"PNOUMU["[ZN"ULU[UQR"PNMNQPTZ"h\NM[USL"cW"^SUL^"[ZPS\^Z"

MSVN" SY" [ZN" TNL[PQR" ]URNVVQM" [ZQ[" [ZN" nTSLLNT[USLMH" cN[aNNL" [ZN" [aS" ]NMU^L"XPSTNMMNM" MNNV" [S" ZSR]+" #" [ZNPNcW" QUV" [S" XSUL[" S\[" MSVN" SY" [ZN" M[\]WHM"TSL[PUc\[USLM+" -\[" cNYSPN" #" ^S" [ZPS\^Z" [ZNMNK" #" aS\R]" RUbN" [S" PNXNQ[" [ZPNN" cQMUT"LS[USLM"[ZQ["aNPN"UL]UTQ[N]"UL"*ZQX[NP"!"QL]"]UMT\MMN]"[ZPS\^ZS\["[ZN"TZQX[NPM+"#L"XPSdNT[M"aZNPN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL" YSPVM"Q"XSUL["SY"]NXQP[\PN" UL" [ZN"]NMU^L"XPSTNMMK"[ZNMN"YQT[SPM"QPN"NMMNL[UQR1""=UPM[K" #" ZQON" M\^^NM[N]" [ZQ[" aNK" UL" ]NMU^L" XPSdNT[M" [ZQ[" ZSR]" NL]" \MNP"

XQP[UTUXQ[USL" QM" Q" XQP[" SY" [ZN" XPSdNT[" S\[RULNK" TSLMU]NP" [ZN" TRUNL[" QM" nQ" TSVXS\L]"cS]W"SY"\MNPMH"PQ[ZNP"[ZQL"Q"lMUL^\RQPm"TRUNL["PNXPNMNL[Q[UON+"%ZUM"MN[\X"ULOSRONM"Q"^NLNPQR" MZUY[" UL" [ZN" XNPTNX[USL" SY" [ZN" TRUNL[" PSRNK" aZUTZ" ZSR]M" M\cM[QL[UQR"UVXRUTQ[USLM"YSP"TRUNL["QL]"QPTZU[NT["QRUbN+"=SP"[ZN"TRUNL[K"U["^NLNPQRRW"VNQLM"[ZQ["[ZN"c\UR]UL^" XPSdNT[" ULOSRONM" SP^QLU_Q[USLQR" ]NMU^L" QMXNT[M" QL]" QRMS" SXXSP[\LU[UNM" [S"Y\P[ZNP"]NONRSX" [ZN"T\PPNL["SP^QLU_Q[USLQR"]NMU^L+"=SP" [ZN"QPTZU[NT[K" U["VNQLM" [ZQ["SP^QLU_Q[USLQR"]NMU^L"UL]UPNT[RW"cNTSVNM"Q"XQP["SY"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+""""

9B;""

"6NTSL]K" QL]" QM" QL" UVXRUTQ[USL" SY" [ZN" YUPM[" XSUL[K" [ZUM" M[P\T[\PN" ULOSRONM"

XQP[UTUXQ[USL" QT[UOU[UNM" [ZQ[" QPN" '0-6.,B$&+" 7ZNL" [ZN" SP^QLU_N]" TZQPQT[NP" UM"UVXSP[QL["[S"NVXZQMU_NK"U["UM"cNTQ\MN"NL]"\MNPM"ZQON"QRaQWM"cNNL"XQP["SY"[ZN"TRUNL["SP^QLU_Q[USL" QL]" TS\R]" [Z\M" XS[NL[UQRRW" ZQON" ZQ]" QL" ULYR\NLTN" SL" [ZN" TRUNL[HM"]NTUMUSLM"D"QRMS"UL"[PQ]U[USLQR"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"%ZUM"bUL]"SY"ULYSPVQR"QL]" PQL]SV" ULYR\NLTN" UM" LS[" ]NLUN]" UL" [ZUM" M[\]W+" 7ZQ[" [ZN" M[\]W" XSUL[M" [SK"ZSaNONPK" UM" [ZQ[" aZNL" XQP[UTUXQ[USL" UM" VN[UT\RS\MRW" XRQLLN]" QL]" TSL[UL\S\MRW"N`NT\[N]K" LNa" [WXNM" SY" nTSLLNT[USLMH" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM" TQL"NVNP^N+"7N"TQLLS["bLSa"aZQ["[ZNW"cPUL^K"c\["TNP[QUL"UMM\NM"QPN"UL]UTQ[N]"[ZPS\^Z"XPNXQPN]" N`NPTUMNM" QL]"h\NM[USLM+"%ZUM" QT[" SY" SP^QLU_UL^" [ZN"XQP[UTUXQ[USL"VSM[RW"MNNVM" [S" cN" \L]NP[QbNL" cW" !/0'1$++% &$+,-.$0+2K" Q" PSRN" #" ZQON" ]NMTPUcN]" QL]"]UMT\MMN]"SLRW"XPSOUMUSLQRRW"[ZPS\^ZS\["[ZN"[ZNMUM"lTY+"MNT[USLM"F."QL]"B-m+".M"aN"ZQON" MNNL" [ZPS\^Z" [ZN" NVXUPUTQR" M[SPUNM" lTY+" MNT[USLM" F-K" F*" QL]" B*m1"aZNL" NL]"\MNPM"QPN"ULOU[N]"[S"[QRb"QcS\["MXQTNK"[ZNW"NL]"\X"[QRbUL^"QcS\["Q"aZSRN"RS["VSPNK"LS["NQMURW"TSL[PSRRN]"cW"QLWcS]W+"7N"VU^Z["XNPZQXM"MQW"[ZQ["[ZN"XPSTNMM"]NMU^LNP"UM"VNQL["[S"^\QPQL[NN"[ZQ["[ZN"XPSTNMM"]SNM"LS["^N["S\["SY"ZQL]+"2SaNONPK"[ZN"PSRN"]SNM"LS["MNNV"[S"ZQON"cNNL"[ZSPS\^ZRW"UL[NPPS^Q[N]K"RN["QRSLN"QTTNX[N]"UL"[ZN"YUNR]"SY" QPTZU[NT[\PQR" ]NMU^LK" QM" SY" WN[+" #[" MNNVM" [S" PNXPNMNL[" Q" XS[NL[UQRK" UL" PN^QP]M" [S"XPS]\TUL^" nTSLLNT[USLMH" cN[aNNL" [ZN" [aS"]NMU^L" XPSTNMMNMK" c\[" [S" UL[N^PQ[N" M\TZ"VN[ZS]M" UL" [ZN" YUNR]" SY" QPTZU[NT[\PQR" ]NMU^L" QRMS" ULOSRONM" M\cM[QL[UQR" TZQRRNL^NM+"%ZN" PSRN" QL]" U[M" UVXRUTQ[USLM" MZS\R]" [Z\M" cN" Y\P[ZNP" N`XRSPN]" UL" YSP[ZTSVUL^"M[\]UNM+"%ZN"NVXUPUTQR"VQ[NPUQR"[ZQ["ZQM"NVNP^N]"UL"[ZUM"M[\]W"VU^Z["TSL[PUc\[N"[S"M\TZ"ULONM[U^Q[USL+"""%ZUP]K"QL]"QM"QL"UVXRUTQ[USL"SY"[ZN"MNTSL]"XSUL[K"SP^QLU_N]"XPSTNMMNM"QPN"RUbNRW"

[S" XPS]\TN" MSVN"bUL]"SY" QL" S\[TSVN+".M" #" ZQON" UL]UTQ[N]" [ZPS\^ZS\[" [ZN" [ZNMUMK"[ZUM"S\[TSVN"VU^Z["cN"TZQPQT[NPU_N]"nQL"SP^QLU_Q[USLQR"ULX\[H"[ZQ["UM"NVNP^UL^K"UL"[ZN" MNLMN" [ZQ[" U[" UM" ]NONRSXUL^" QM" Q" PNM\R[" SY" [ZN" XQP[UTUXQ[USL+" #Y" [ZN" TRUNL["SP^QLU_Q[USL"cNTSVNM" ULOSRON]" UL" [ZN"]NMU^L"XPSTNMM" [ZPS\^Z"N`[NL]N]"XPSTNMMNM"SY"SP^QLU_N]"XQP[UTUXQ[USLK"[ZN"S\[TSVN"SY"[ZNMN"NYYSP[M"TQLK"UL"]UYYNPNL["aQWMK"ZQON"TSLMNh\NLTNM"YSP"[ZN"QPTZU[NT["UL"[ZN"XPSTNMM"SY"]NMU^LUL^+"$S["SLRW"]SNM"[ZN"TRUNL["cNTSVN"VSPN" QT[UON" UL" [ZN" XPSTNMM" SY" ]NMU^LUL^" cW" TSL[UL\S\MRW" XQP[QbN" UL" [ZN"]UMT\MMUSLM"[ZQ[" ULYSPV"[ZN"]NMU^L"MSR\[USL+".RMSK"MZN"UM"]NONRSXUL^"k"TZQL^UL^"k"QM"Q"PNM\R["SY"[ZUM"ULOSRONVNL[+"%ZUM"aQM"QXXQPNL["UL"[ZN"%SaL"2QRR"XPSdNT[+"2NPNK"[ZN" XQP[UTUXQ[USL" QT[UOU[UNM" M[QP[N]" XPUSP" [S" [ZN" QPTZU[NT[\PQR" TSVXN[U[USL" QL]" [ZN"

9BF""

S\[TSVN"SY"[ZNMN"XPSTNMMNM"aQM"cPS\^Z["UL"QM"QL"ULU[UQR"ULX\["[S"YSPV"Q"XQP["SY"[ZN"cPUNY"SY"PNh\UPNVNL[M+"-QMN]"SL"[ZQ[K"[ZN"MNNVUL^"QcURU[W"[S"ULTSPXSPQ[N"[ZUM"ULX\["UL"[ZN"]NMU^L"XPSXSMQR"aQM"\MN]"QM"QL"QMMNMMVNL["TPU[NPUSL" [S"MNRNT["Q"aULLNP" UL" [ZN"QPTZU[NT[\PQR" TSVXN[U[USL" lTY+" F.m+" -\[" [ZN" NL^Q^NVNL[" ]U]" LS[" M[SX" [ZNPN+" %ZN"XQP[UTUXQ[USL" QT[UOU[UNM" TQPPUN]" SL" [ZPS\^ZS\[" [ZN" XPSdNT[K" QL]" [ZN" XQP[UTUXQL[M"]NONRSXN]"QTTSP]UL^RW+"#L"[ZN"T\PPNL["TRUVQ[NK"QPTZU[NT[M"M[URR"XPN]SVULQL[RW"PNRQ[N"[S"[ZN"TRUNL["QM"Q"TRQMMUTQR"]NTUMUSL"VQbNPK"UL"aZUTZ"[ZN"QPTZU[NT["SXNPQ[NM"UMSRQ[N]"YPSV" [ZN" TRUNL[HM" UL[NPLQR" ]NTUMUSL"VQbUL^"XPSTNMMNM+"-\[" UY" [ZN" QcURU[W" [S" ZQL]RN"M\TZ" SL^SUL^" ]NONRSXVNL[" XPSTNMMNM" lSY" SP^QLU_N]" XQP[UTUXQ[USLm" cNTSVNM" Q"TPU[NPUSLK" aU[Z" PN^QP]M" [S" [ZN" QPTZU[NT[HM" TZQLTN" SY" Sc[QULUL^" QMMU^LVNL[M" lYSP"N`QVXRN" [S"aUL"QPTZU[NT[\PQR"TSVXN[U[USLMmK" U[" MZS\R]"cN"TSLMU]NPN]"Q"TSL]U[USLQR"TZQL^N"aU[Z"M\cM[QL[UQR" UVXRUTQ[USLM+" #Y" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"TPNQ[N"Q"TRSMNP"PNRQ[USLMZUX" cN[aNNL" TRUNL[" QL]" QPTZU[NT[K" M\TZ" Q" MZUY[" UM" RUbNRW" [S" QYYNT[" ]NTUMUSL"VQbUL^" QM" aNRR" QM" ]NMU^LUL^+" #L" [ZUM" aQWK" [ZN" MZUY[" aURR" XS[NL[UQRRW" TZQL^N" [ZN"YS\L]Q[USL"SY"[ZN"QPTZU[NT[HM"aQW"SY"aSPbUL^+"%ZNMN"[NL]NLTUNM"VU^Z["M[PNL^[ZNL"UY"[ZN"TRUNL["cNTSVNM"VSPN"YQVURUQP"aU[Z"[ZN"PSRN"QM"Q"nTSVXS\L]"cS]W"SY"\MNPMH"[ZQ["UM" QT[UON" QL]" ]NONRSXUL^K" QL]" QRMS" UY" [ZN" PSRN" SY" [ZN" XPSTNMM" ]NMU^LNP" ^N[M"[ZSPS\^ZRW"N`XRSPN]"QL]"NM[QcRUMZN]"SL"[ZN"VQPbN["YSP"c\UR]UL^"]NMU^L+""#L" [ZN" LN`[" XQPQ^PQXZM" #"aURR" ^S" [ZPS\^Z" MSVN"SY" [ZN" nTSLLNT[USLMH" [ZQ["aNPN"

MZSaL"[S"N`UM["cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNMK"QM"[ZNW"ZQON"cNNL"URR\M[PQ[N]"QL]"]UMT\MMN]"[ZPS\^ZS\["[ZN"[ZNMUM+"#"ZQON"M[\]UN]"MXNTUYUT"NVXUPUTQR"ULM[QL[UQ[USLM"SY"Q"^NLNPQR" XZNLSVNLSL1" [ZN" TSLT\PPNL[" ]NONRSXVNL[" SY" QPTZU[NT[\PQR" QL]"SP^QLU_Q[USLQR"]NMU^LMK"VN]UQ[N]"[ZPS\^Z"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL+"#L"[ZUM"aQWK" #" TSLMU]NP" [ZNMN" YUL]UL^M" QM" ^NLNPQR" YNQ[\PNM" [ZQ[" TQL" cN" PNRNOQL[" [S" S[ZNP"XPSdNT[M+"#L"[ZN"[N`["cNRSaK"#"ZQON"Q[[NVX[N]"[S"Q]]PNMM"[ZN"XSUL[M"[ZQ["XQP[UT\RQPRW"PNYNP" [S" [ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMM" YUPM[K" aZURN" M\cMNh\NL[RW" [\PL" [S" [ZSMN"[ZQ[" PNYRNT[" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 2SaNONPK" QM" [ZN" LS[USL" SY" [ZNMN"nTSLLNT[USLMH" UM" PQ[ZNP" [S" TSLLNT[" [ZQL" [S" ]UOU]NK" [ZN" SP^QLU_Q[USLQR" QL]" [ZN"QPTZU[NT[\PQR"QMXNT[M"QRMS"UL[NPMNT[K"QM"#"PNOUMU["[ZN"XSUL[M"[ZPS\^ZS\["[ZN"[N`[+"""

9BB""

'*($+!+'*$+"#&%#2*#!%4&$*3/&*#,&*($+!-3*$+"#&

#L" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" QL" N`[NL]N]" ^PS\X" SY" M[QYY" PNXPNMNL[Q[UONM" QPN"ULOU[N]" [S" UL[NPQT[UON"aSPbMZSXMK" UL"aZUTZ" [ZNW" QPN" ^UONL" XQP[UT\RQP" h\NM[USLM" [S"]UMT\MM" QL]" [QMbM" [S" MSRON+" 2NPNK" [ZN" N`NPTUMNM" ZSR]" [ZN" MXQ[UQR" M[P\T[\PN" SY" [ZN"SP^QLU_Q[USLHM"T\PPNL["QL]"Y\[\PN"aSPb"XPQT[UTN"QM"U[M"TNL[PQR"L\TRN\M+"$S["SLRW"QPN"[ZN" XQP[UTUXQL[M" QMbN]" [S" PNYRNT[" \XSL" T\PPNL[" aSPb" XPSTNMMNM" QL]" PNRQ[USLMZUXMK"[ZNW"QPN"QRMS"QMbN]"[S"XPN]UT["Y\[\PN"XPQT[UTN+".M"aN"bLSa"YPSV"[ZN"MNLMNVQbUL^"RU[NPQ[\PNK"XNSXRN"TQLLS["bLSa"aZQ["[ZNW"[ZULbK"\L[UR"[ZNW"MNN"aZQ["[ZNW"MQW"l7NUTb"!A?AK"!AAFK"9EECm+"%ZQ["UM"aZW"[QRb"UM"^SS]1"U["TQL"ZNRX"\M"LQOU^Q[N"[ZN"[ZUL^M"aN"]SLH["WN["bLSa+"%ZN"XQP[UTUXQL[M"[PW"[S"TSVXPNZNL]"[ZN"TSVXRN`U[W"ULOSRON]"UL"[ZN"h\NM[USLM" QMbN]" QL]" [ZN" N`NPTUMNM" XPSXSMN]K" cW" [QRbUL^" [ZNUP" aQW" [ZPS\^Z" [ZNUP"XPQT[UTNK" aSPb" XPSTNMMNM" QL]" PNRQ[USLMZUXM+" %ZNW" TSLONPMN" QcS\[" [ZNUP" aSPb"XPSTNMMNM" QM" [ZNW" N`XNPUNLTN" [ZNVK" aZUTZ" LS[" SLRW" VQbN" [ZNV" [S\TZ" \XSL" [ZN"[ZUL^M" [ZQ[" aSPbK" c\[" QRMS" SL" [ZSMN" [ZQ[" ]SLH[" aSPb" QL]" [ZQ[" XNPZQXM" MZS\R]" cN"TZQL^N]"UL"Y\[\PN"MN[\XM+"%ZUM"XPSTNMM"SY"QP[UT\RQ[USL"TSL[PUc\[NM"[S"TQ[N^SPU_N"QL]"\L]NPM[QL]" XPQT[UTN+".RMSK" [ZNMN" TSLONPMQ[USLM" ZQ]" Q" XQP[UT\RQP" MXQ[UQR" YST\M" QL]"\MN]"]UYYNPNL["[WXNM"SY"OUM\QRU_UL^"]NOUTNM"[S"M\XXSP["[ZNV+"%ZN"XQP[UTUXQL[M"aNPN"^UONL"N`NPTUMNMK"UL"aZUTZ"[ZNW"]UMT\MMN]"QL]"MTP\[ULU_N]"[ZN"MXQ[UQR"SP^QLU_Q[USL"SY"[ZNUP"XPQT[UTNK"OUQ" YSP" N`QVXRN"]UYYNPNL[" [WXNM"SY"cSQP]"^QVNM+" #L" [ZNMN"^QVNMK" Q"PQL^N" SY" QMXNT[M" aNPN" ULOSRON]K" [ZPS\^Z" aZUTZ" [ZN" XPQT[UTN" aQM" TZQPQT[NPU_N]1"XPSYNMMUSLQR" PNRQ[USLMZUXMK" Q[VSMXZNPNMK"XZWMUTQR" Q[[PUc\[NM" QL]"VSPN+"-W"XRQWUL^"[ZNMN"^QVNMK"[ZN"XQP[UTUXQL[M"[QRbN]"YSP[Z"XNPTNX[USLM"SY"[ZNUP"aSPb"XPQT[UTN+"2NPNK"[ZN" SP^QLU_N]" XQP[UTUXQ[USL" MNNVM" [S" ZQON" TSL[PUc\[N]" [S" YSPV" UL[NPMNT[USLM" k"nTSLLNT[USLMH"k"cN[aNNL"T\PPNL["QL]"Y\[\PN"QMXNT[M"SY"[ZN"XPSYNMMUSLQR"XPQT[UTN+""<QLW" SY" [ZN" UMM\NM" [ZQ[" STT\P" UL" [ZNMN" XPSTNMMNMK" UL"aZUTZ" XNSXRN" [ZQ["aSPb"

[S^N[ZNP"[QRb"QcS\["[ZNUP"XPSYNMMUSLQR"NL^Q^NVNL[MK"QPN"aNRR"bLSaL"UMM\NM"[ZQ["ZQON"cNNL" ]UMT\MMN]" SL" NQPRUNP" STTQMUSLM+" %ZN" XSUL[" UM" [ZQ[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM"qMZSON" [ZUL^M" QPS\L]" QL]" TZQL^N" [ZNUP" NVXZQMUMr" l7NUTb" !A?A1" 9EAm+" .R[ZS\^Z"VQLW"SY"[ZN"MQVN"[ZUL^M"VQW"TSVN"\XK"[ZNW"TSVN"\X"UL"]UYYNPNL["aQWM"cNTQ\MN"[ZN"TSL[N`["\XSL"aZUTZ"[ZNW"QPN"cQMN]K"^S"[ZPS\^Z"TSL[UL\S\M"TZQL^NM+"#Y"aN"PNTQRR"[ZN"[U[RN"SY"[ZUM"[ZNMUMK"aN"VU^Z["MQW"[ZQ["aZNL"aN"[QRb"QcS\["MXQTNK"VQLW"S[ZNP"UMM\NM"VQW"NVNP^N+"4NSXRN"UL"SP^QLU_Q[USLM"VU^Z["[Z\M"LS["bLSa"[ZNUP"Y\[\PN"XPQT[UTNK"c\["

9B?""

[ZN" XQP[UTUXQ[USL" QT[UOU[UNM" VQW" ^UON" [ZNV" QL" SXXSP[\LU[W" [S" ^N[" TRSMNP" [S" U[" cW"[QRbUL^" U[" UL[S" cNUL^+" 2NPNK" [ZN" TSLMNh\NLTNM" SY" [ZN" SP^QLU_N]" XQP[UTUXQ[USL"M\cM[QL[UQRRW" ]UYYNP" YPSV" [ZN" VSPN" MXSL[QLNS\MK" ULYSPVQR" XPSTNMMNM" [ZQ["[PQ]U[USLQRRW"TZQPQT[NPU_N"[ZN"PNRQ[USLMZUX"cN[aNNL"TRUNL["QL]"QPTZU[NT[+"""#[" MZS\R]"QRMS"cN"LS[N]" [ZQ["aSPbMXQTN"QL]"XZWMUTQR" RQWS\["^NLNPQRRW" MNNV" [S"

ZQON"XNSXRNHM"Q[[NL[USL"UL"SP^QLU_Q[USLQR"TSL[N`[MK"QL]"[S"TPNQ[N"NL^Q^NVNL[+"6[QYY"VNVcNPM" aZS" aNPN" ULOU[N]" [S" aSPbMZSXMK" UL[NPOUNaM" QL]" S[ZNP" XQP[UTUXQ[USL"QT[UOU[UNM" UL"cS[Z"SY" [ZN" NVXUPUTQR"XPSdNT[M"^NLNPQRRW" QTTNX[N]" [ZUM" ULOU[Q[USLK" QL]"bNX[" SL" NL^Q^UL^" UL" [ZNMN" XPSTNMMNM" QM" RSL^" QM" [ZN" ULOU[Q[USL" bNX[" TSVUL^+"<W"XSUL[" ZNPN" UM" [aSYSR]+" 6XQTN" VQ[[NPM" [S" XNSXRN" UL" VQLW" QMXNT[M" SY" RUYN+" #L" QL"SP^QLU_Q[USLQR"XNPMXNT[UON"U["VQbNM"^SS]"ULOU[Q[USLQR"VQ[NPUQR"UL"SP]NP"[S"NLZQLTN"NL^Q^NVNL[+"%ZN"YQT["[ZQ["[ZN"M[QYY"aQL[M"[S"NL^Q^N"UL"XPSTNMMNM"[ZQ["PN^QP]"MXQ[UQR"UMM\NM" SY" SP^QLU_UL^K" VU^Z[" [Z\M" U[MNRY" YSPVM" Q" cQMUT" nTSLLNT[USLH+" .RMSK" [ZN"VQ[NPUQR"h\QRU[W"SY" [ZN" UMM\NM"Q["M[QbN"MNNVM" [S"ZQON"QL"QP[UT\RQ[UL^"NYYNT[+"7ZURN"aSPb"XPQT[UTN"VU^Z["cN"MQU]"[S"cN"ZU^ZRW"NVcS]UN]K"TSLMUM[UL^"SY"MVQRR"N`TZQL^NM"SY" UL[NPQT[USL" cN[aNNL" XNSXRN" [ZQ[" TQL" cN" ]UYYUT\R[" [S" QP[UT\RQ[NK" VQ[NPUQRU[W" TQL"TSL[PUc\[N" QM" Q"VN]U\V+"-W"X\[[UL^" MXQTN" QL]"VQ[NPUQRU[W" SL[S" U[K" QM" Q"VNQLM" SY"QP[UT\RQ[UL^" [ZN" XPQT[UTNK" [ZN" TSLONPMQ[USLM" Sc[QUL" Q" VN]U\V" [ZQ[" TQL" NLZQLTN"TSVXPNZNLMUSL+"-S[Z"NVXUPUTQR"TQMNM"UL"[ZUM"M[\]W"MZSa"[ZQ["SP^QLU_Q[USLQR"OUMUSLM"QPN" QMXUPQ[USLMK" SY[NL" OQ^\NRW" YSPV\RQ[N]" cW" [ZN" VQLQ^NP+" 2NPNK" [ZN" VQ[NPUQR"h\QRU[W" SY" [ZN" TSL[N`[" M\XXSP[M" [ZN" XPSTNMM" SY" cPUL^UL^" OQ^\N" QVcU[USLM" UL[S"TSLTPN[N"TZQL^NM"[ZQ["PN^QP]"aSPb"XPQT[UTNK"QP[UT\RQ[N]"cW"[ZN"XQP[UTUXQL[M+""".L"UVXSP[QL["XSUL["UM"[Z\M"[ZQ["SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"[ZQ["YST\MNM"SL"

[ZN"MXQ[UQR"SP^QLU_Q[USL"SY"aSPb"XPQT[UTN"TQL"XS[NL[UQRRW"M\XXSP["[ZN"NM[QcRUMZVNL["SY" QL" SP^QLU_Q[USL" [ZQ[" TQL" TSVXPNZNL]" U[M" SaL" QT[UOU[W+" -W" NL^Q^UL^" UL" [ZNMN"TSLONPMQ[USLMK"[ZN"XQP[UTUXQL[M"TSL[UL\S\MRW"[NM["QL]"[PUQR"[ZNUP"TQXQTU[W"[S"TSL[QUL"[ZN" TSVXRN`U[W" SY" [ZNUP" XPSYNMMUSLQR" XPQT[UTN+" #[" UM" UVXSP[QL[K" ZSaNONPK" [S"NVXZQMU_N"[ZQ["XPSTNMMNM"SY"[QRbK"TQ[N^SPU_UL^K"LQVUL^"QL]"XSMU[USLUL^"QRMS"ULTR\]N"RNQOUL^" lVSM[m" [ZUL^M" S\[+" #L" XPULTUXRNK" aN" ]S" LS[" bLSa" ZSa" [ZN" NLQT[N]"NLOUPSLVNL[MK" NLOUMUSLN]" SL" XSM[NPM" QL]" cSQP]" ^QVNMK"aURR"aSPb"aZNL" [ZNW" QPN"cPS\^Z[" UL[S" QPTZU[NT[\PQR" TSLYU^\PQ[USLM+" %ZUM" UM" Q" ]UYYUT\R[" UL[NPMNT[USL" UL" [ZN"PNRQ[USLMZUX"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"4NSXRN"]S"LS["bLSa"SY"[ZNUP"QcURU[W"[S" NLQT[" Q" MXQTN" cNYSPN" TSLYPSL[N]"aU[Z" U[+" 3L]" \MNPM" ]S" LS[" ZSR]" Q" RQL^\Q^N" [S"]UMT\MM"LNa"MXQ[UQR"TSLYU^\PQ[USLM"SY"[ZNUP"aSPb"XPQT[UTN+"%ZNW"TQL"[QRb"[ZNUP"aQW"

9B,""

[SaQP]M"U[K"c\["aN"TQLLS["bLSa"UY"QL]"UL"aZQ["aQW"U["TQL"ZSR]"UL"QL"QPTZU[NT[\PQR"XNPMXNT[UON+"""

'*($+!+'*$+"#&*33"54&)"(&,+4'3*!%8%#$&*#,&4$*.+3+$6&

%ZN"XQP[UTUXQ[USL"QT[UOU[UNM"^UON"aQW"[S"QL"UL[PUTQ[N"S\[TSVN"[ZQ["#"ZQON"QcSON"TZQPQT[NPU_N]" QM" n[ZN" SP^QLU_Q[USLQR" ULX\[H+" 4PS]\TN]" cW" Q" nTSVXS\L]" cS]W" SY"\MNPMHK"aZS" PNXPNMNL[M" Q"V\R[U[\]N" SY" ]UYYNPNL[" OSUTNMK" [ZN" PNM\R[" UM" UPPN^\RQP" QL]"ULTSZNPNL[+" .M" [ZN" h\NM[USLM" XPSXSMN]" [S" ^\U]N" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QPN"TSVXRN`" UL" TSL[NL[K" [ZN" UL[NPXPN[Q[USLM" QL]"VNQLUL^" N`TZQL^NM" [ZNW"XPS]\TN" QPN"QRMS" LNTNMMQPURW" V\R[UYQPUS\M+" %ZN" U]NQM" QL]" TSLMU]NPQ[USLM" S\[RULN]" cW" [ZN"XQP[UTUXQL[M"TQL"[QbN"VQLW"YSPVQ[M"QL]"XSUL["UL"VQLW"]UPNT[USLM+"#L"[ZUM"aQWK"aN"VU^Z[" MQW" [ZQ[" [ZN" XQP[UTUXQ[USL" XPS]\TNM" ULTPNQMN]" TSVXRN`U[W+" 2NPNK" [ZN"XQP[UTUXQL[M" Q[[NVX[" [S" n^PQMX" aZQ[" [ZNW" QPN" [ZULbUL^" cW" MNNUL^" aZQ[" [ZNW" QPN"MQWUL^H+"#L"[ZQ["MNLMNK"[ZN"TSVcULQ[USL"cN[aNNL"[QRb"QL]"TSVXRN`U[W"UM"SY[NL"^SS]"UL" SP^QLU_Q[USLQR" TSL[N`[M1" QR[ZS\^Z" TSVXRN`U[W" ULTPNQMNM" QM" Q" PNM\R[" SY" [ZN"TSLONPMQ[USLK" U[" UM" QRMS" RUbNRW" [S" PN]\TN" cW" [ZN" MQVN"VNQLM+"'L" [ZN" cQMUM" SY" [ZN"XQP[UTUXQ[USLK" XNSXRN" TSVN" TRSMNP" [S" \L]NPM[QL]UL^" [ZN" TSVXRN`U[W" [ZNW" QPN"M\cdNT[N]" [SK" UL" [ZN" TS\PMN" SY" [ZNUP" XPQT[UTN+" %ZUM" XQPQ]S`" cN[aNNL" ULTPNQMN" QL]"PN]\T[USL" SY" TSVXRN`U[W" YSPVM" Q" nTSLLNT[USLH" cN[aNNL" [ZN" [aS" ]NMU^L" XPSTNMMNM"[ZQ[" QRMS" TQ[QRW_NM" QLS[ZNP" XQPQ]S`" SY" Q" MUVURQP" TSLM[U[\[USLg" [ZQ[" cN[aNNL"]UMXRQTNVNL[" QL]" M[QcURU[W+" %ZN" TSLTNX[" SY" ]UMXRQTNVNL[" TSL[PUc\[NM" [S" ]NMTPUcN"ZSa" XQP[UTUXQ[USL" [QbNM" XRQTN" UL" [ZNMN" TSL[N`[M+" %ZN" XSUL[" TQL" cN" MNNL" QM" QL"N`[NLMUSL"SY"[ZN"XPNOUS\M"LS[USL"SY"ZSa"QP[UT\RQ[USL"TQL"M\XXSP["TSVXPNZNLMUSL+"#L"[ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" [ZUL^M" QPN" qMZSON]" QPS\L]rK" QL]" [ZUM" dSM[RUL^" QT[UOU[W"QRMS" QYYNT[M" [ZN" XQP[UTUXQL[MH" XNPTNX[USL+" #L" [ZUM" aQWK" aN" VU^Z[" MQW" [ZQ[" [ZN"XQP[UTUXQL[MH" OUNaXSUL[M" QPN" ]UMXRQTN]" QM" Q" PNM\R[" SY" [ZNUP" ONPW" XQP[UTUXQ[USL+"%ZN"]UMXRQTNVNL["VU^Z["cN"]UYYUT\R["[S"U]NL[UYW"UL"[ZN"TS\PMN"SY"[ZN"XPSTNMMNM+".M"#"ZQON"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"[ZN"M[SPW"QcS\["[ZN"SXNL"SYYUTN"RQWS\["UL"[ZN"%SaL"2QRR"XPSdNT[K"[ZN"XQP[UTUXQL[M"bNX["[QRbUL^"QcS\["[ZN"SXNL"RQWS\[K"NONL"[ZS\^Z"[ZNW"aNPN"ULYSPVN]"[ZQ["[ZN"M[P\T[\PN"aQM"Q"cQMUT"]NMU^L"XPNTSL]U[USL+"2NPNK"aN"VU^Z["[ZULb"[ZQ["[ZN"]UMT\MMUSLM"QcS\["k"QL]"[ZNPNcW"[ZN"Q[[U[\]N"[SaQP]M"k"[ZN"SXNL"RQWS\["bNX["

9BA""

U[M"N`QT["MZQXN"[ZPS\^ZS\["[ZN"XQP[UTUXQ[USL"XPSTNMMNM+"-\["aN"bLSa"YPSV"[ZN"]Q[Q"QM"aNRR"QM"YPSV"[ZNSPN[UTQR"TSLTNX[M"[ZQ["[ZUL^M"QPN"LS["\L[S\TZN]"cW"[ZN"TSL[N`[MK"UL"aZUTZ"[ZNW"QXXNQP+"""7ZNL"aN" PNOUMU[" Q"TSLTNX["SP"Q"VNQLUL^" UL" [ZN"]UMT\MMUSLM"aN"NL^Q^N" ULK"aN"

SY[NL"[NL]"[S"[ZULb"[ZQ["aN"bLSa"U["k"[ZQ["aN"bLSa"aZNPN"U["TSVNM"YPSV"QL]"aZNPN"U["UM"^SUL^+"-\["TSLMU]NPUL^"[ZN"TSLTNX["SY"PN[NL[USLK"aZUTZ"VNQLM"[S"UVXRNVNL["SP"ZSR]" SL" [SK" qnPN[NL[USL"VNQLM" *,6),*,"8" [S" PNTQRRK" QL]" U["VNQLM" LS[ZUL^"VSPN" [ZQL"M\TZ" RUQcURU[W+"%ZN"SLRW"XPSSY"SY" [ZNPN"cNUL^"PN[NL[USL" UM" [ZQ["PNTQRR"QT[\QRRW" [QbNM"XRQTNr"lJQVNM"!AFE1"BF;"UL"7NUTb"!A?A1"9E?m+"%ZN"M[SPW"SY"[ZN"SXNL"SYYUTN"RQWS\["URR\M[PQ[NM" ZSa" M\TZ" Q" PNTQRR" [S" ]UMT\MM" [ZUM"VQ[[NP" UL]NN]" [SSb" XRQTNK" c\[" U[" QRMS"MZSaN]" ZSa" [ZN" TSLONPMQ[USLM" QcS\[" [ZN" SXNL" RQWS\[" TZQL^N]" SONP" [UVN+" #L" [ZUM"aQWK" XQP[UTUXQ[USL" QT[UOU[UNM" LS[" SLRW" TQ\MN" ]UMXRQTNVNL[MK" [ZNW" QRMS" M[QcURU_N" QL"\L]NPM[QL]UL^" SY" Q" M\cdNT[" VQ[[NP+" -NTQ\MN" [ZNMN" XPSTNMMNM" QPN" MU[\Q[N]" QL]"TSL[N`[\QRK"[ZNUP"TSL[NL[M"QRMS"TZQL^N+"3ONL"[ZN"VNQLUL^"SY"[ZUL^M"[ZQ["]S"LS["MNNV"[S"cN"TZQL^UL^"]SNM"TZQL^N"UL"[ZN"TS\PMN"SY"[ZNMN"XPSTNMMNM+"%ZN"LS[USL"SY"QL"SXNL"RQWS\["QM"Q"M[P\T[\PQR"XPULTUXRN"UL"QL"SYYUTN"c\UR]UL^"RUbN"[ZN"[SaL"ZQRR"TQL"MNPON"QM"QL" N`QVXRNK" QM" [ZN" UL[NPNM[" QPS\L]" [ZUM" XQP[UT\RQP" UMM\N" MNNVM" [S" cN" ^NLNPQRK"UL[NPLQRRW" aU[ZUL" SP^QLU_Q[USLM" QM" aNRR" QM" N`[NPLQRRW" UL" [ZN" ^NLNPQR" ]NcQ[N+" %S"PNXNQ["VW"XSUL["QcSONK"[ZN"TSLONPMQ[USLM"[ZQ["SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"TQL"SYYNP" QM" Q" VN[ZS]K" VU^Z[" PNXPNMNL[" QL" SXXSP[\LU[W" [S" NM[QcRUMZ" QL" SP^QLU_Q[USL"TQXQcRN"SY"NLTSVXQMMUL^"k"QL]"[Z\M"Y\P[ZNP"]NONRSXUL^"k"U[M"SaL"QT[UOU[W+"3L]"\MNP"XQP[UTUXQ[USL" UM" LS[" SLRW" Q" XPSTNMM" SY" ULYR\NLTUL^" ]NMU^L" ]NTUMUSLM+" #[" UM" QRMS" Q"RNQPLUL^"XPSTNMMK"[ZPS\^Z"aZUTZ"aN"TQL"\LYSR]"QL]"TSVXPNZNL]"[ZN"UL[PUTQTUNM"SY"SP^QLU_Q[USLQR"]NMU^L+"=ULQRRWK"[ZN"XQP[UTUXQ[USL"UM"QRMS"Q"XPSTNMM"SY"MSTUQRU_Q[USLK"UL"aZUTZ"PNQRU[W"cNTSVNM"MZQPN]"QL]"TSSP]ULQ[N]"QTPSMM"[ZN"SP^QLU_Q[USL+"""

9?E""

'*($+!+'*$+"#&*4&*&8%*#4&$"&!"<,%4+0#+#0&=4B&'(%<8%,+*$%,&,%4+0#&4"3-$+"#4&

.LS[ZNP"TNL[PQR"[NLMUSL"UL"[ZUM"MN[\X"UM"[ZQ["cN[aNNL"[ZN"XQP[UTUXQ[USL"QM"QL"U]NQ"SY" TSD]NMU^LUL^K" SL" [ZN" SLN" ZQL]K" QL]" [ZN" OQPUS\M" XPNTSL]U[USLM" [ZQ[" YSPV" [ZN"XPSdNT[HM" cQMUT" S\[RULNK" SL" [ZN" S[ZNP+" %ZN" [NLMUSL" ZSR]M" Q" ^NLNPQR" TZQRRNL^N" UL"XPSdNT[M"[ZQ["ZQON"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"QM"Q"XSUL["SY"]NXQP[\PNK"LS["SLRW"UL"MN[[UL^M"[ZQ["PN^QP]"[ZN"NM[QcRUMZVNL["SY"QL"QPTZU[NT[\PQR"]NMU^LK"c\["QRMS"UL"S[ZNP"TSL[N`[M+"=SP"Q"]NMU^LNPK"[S"aZSV"[ZN"XQP[UTUXQ[USL"UM"M\XXSMN]"[S"PNXPNMNL["Q"XSUL["SY"]NXQP[\PNK"[ZUM"UM"Q"TNL[PQR"cQRQLTN"[S"cN"QcRN"[S"LQOU^Q[N+"7ZNL"M[QYY"VNVcNPM"QPN" UL]UPNT[RW" ULOU[N]" [S" XQP[QbN" UL" VQbUL^" ]NTUMUSLM" QcS\[" ]NMU^LK" aN" LNN]" [S"]UMT\MM" [ZUM" ULc\UR[" TSL[PQ]UT[USL" cN[aNNL" ULX\[M" XPS]\TN]" cW" [ZN" \MNP"PNXPNMNL[Q[UONM"QL]"[ZN"XPSdNT[HM"QRPNQ]W"MN[[RN]"XPNTSL]U[USLM+""".M" XSUL[N]" S\[" [ZPS\^ZS\[" [ZN" [ZNMUMK" c\UR]UL^" XPSdNT[M" QPN" M\cM[QL[UQRRW"

TSVXRN`" NL]NQOSPMK" aZUTZ" VSM[" SY[NL" ZSR]" Q" PQL^N" SY" XPNTSL]U[USLM" SP"PNh\UPNVNL[M"QM"Q"TNL[PQR"XQP["SY"[ZNUP"S\[MN[+"6NONPQR"SY"[ZNMN"QPN"]NTUMUSLM"VQ]N"XPUSP"[S"[ZQ["[ZN"]NMU^L"XPSTNMM"UM"RQ\LTZN]+"%ZNW"QPN"SY[NL"YQT[\QRK"UL"[ZN"MNLMN"[ZQ["[ZNW"TSONP"QMXNT[M"RUbN"[ZN"MU_N"SY"[ZN"c\UR]UL^"MU[NK"[ZN"L\VcNP"SY"XNSXRN"[ZQ["[ZN"c\UR]UL^"UM"M\XXSMN]"[S"QTTSVVS]Q[NK"QL]"MUVURQP"[WXNM"SY"ULYSPVQ[USL+"-\["[S]QWK"[ZN" NM[QcRUMZVNL[" SY" Q" c\UR]UL^" XPSdNT[" ULTPNQMUL^RW" ULOSRONM" XPNTSL]U[USLM" [ZQ["VQW" PQ[ZNP" cN" TZQPQT[NPU_N]" QM" OQ^\N" SP^QLU_Q[USLQR" QMXUPQ[USLM+" %ZNMN" QPN"QMXUPQ[USLM" [ZQ[" TQL" ULMXUPN" [ZN" ]NONRSXVNL[" SY" [ZN" ]NMU^L" XPSTNMMK" QL]" [ZQ[" TQL"QRMS"cN"ULMXUPN]"cW"[ZN"]NMU^L"MSR\[USLK"QM"U["NVNP^NM+"%ZN"M[SPW"QcS\["[ZN"NL[PQLTN"TS\L[NP"UL"[ZN"%SaL"2QRR"XPSdNT["QL]"[ZN"MSVNaZQ["OQ^\N"QMXUPQ[USL"SY"!+,-.,@8,.-%'/$..$++2%VU^Z[" cN" QL" N`QVXRN" SY" M\TZ" QL" ULX\[+"2NPNK" [ZN" LS[USL" SY" nSXNLH" SP"nTRSMN]H"[SSb"SL"]UYYNPNL["UL[NPXPN[Q[USLMK"QTTSP]UL^"[S"TSL[N`["QL]"MU[\Q[USL+"""#Y" aN" PN[\PL" [S" MSVN" SY" [ZN" ^NLNPQR" ]NONRSXVNL[M" aU[ZUL" [ZN" QPNQ" SY"

SP^QLU_Q[USLQR" ]NMU^L" lTY+" 9.mK" ]NMU^L" UM" SY[NL" XNPTNUON]K" LS[" SLRW" QM" Q" ]NMU^L"XPS]\T[K" c\[" VSPN" MS" QM" Q" XPSTNMM" SY" ]NMU^LUL^+" 2NPNK" [ZNPN" MNNVM" [S" cN" QL"UVXSP[QL["[NLMUSL"cN[aNNL"[ZN"SPU^ULQR"XPSdNT["S\[RULNM"QL]"[ZN"U]NQM"[ZQ["NVNP^N"UL"[ZN" XPSdNT[+" 'P^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" PNXPNMNL[M" QL" QXXPSQTZ" [ZQ[" MNNVM"

9?!""

RUbNRW" [S" M\XXSP[" QL]" QRMS" ULYR\NLTN" ]NMU^L" QM" cNUL^" QL" NVNP^UL^" XPSTNMM+"%ZNMN"QT[UOU[UNM" TQL" XS[NL[UQRRW" VQUL[QUL" Q" TSL[UL\S\M" ]UMT\MMUSL" QcS\[" [ZN" ]NMU^L"MSR\[USL" QL]"VU^Z[" [Z\M" cN" MNNL" QM" QL" SXXSP[\LU[W" [S" NM[QcRUMZ" QP^\VNL[M" UL" [ZN"XPSTNMM"SY"]NTUMUSL"VQbUL^+"#L"[ZUM"XNPMXNT[UONK"XPNDVN]UQ[N]"TSL]U[USLM"VU^Z["LS["cN"XNPTNUON]"QM"XPNVUMNMK"c\["PQ[ZNP"QM"PNM\R[M"SY"Q"TSVXRN`"]NONRSXVNL["XPSTNMM"SY"N`TZQL^NM"cN[aNNL"[ZN"ULOSRON]"XQP[UNM+"%ZN"SP^QLU_N]"XQP[UTUXQ[USL"UL]\TNM"Q"RNQPLUL^"SXXSP[\LU[WK"LS["SLRW"YSP"[ZN"M[QYY""c\["QRMS"YSP"[ZN"VQLQ^NP+"""2NPNK" aN" VU^Z[" PNTQRR" [ZN" QXXPSQTZ" [S" M[PQ[N^UT" TZQL^N" QM" N`TZQL^NM" SY"

MNLMNVQbUL^" QL]" MNLMN^UOUL^" NYYSP[M" cN[aNNL" VQLQ^NVNL[" QL]" M[QYY" l0USUQ" QL]"*ZU[[UXN]]U" !AA!m+" #L" [ZUM" QXXPSQTZK" QVcU^\U[W" QL]" \LTNP[QUL[W" YSPV" Q" XSUL[" SY"]NXQP[\PNK"aU[Z"PN^QP]M"[S"[ZN"XPSdNT[HM"cQMUT"QMXUPQ[USL+".^QULK"aN"VQW"PNOUMU["[ZN"%SaL"2QRR"XPSdNT[K"UL"aZUTZ"Q"M[QYY"VNVcNP"PN[\PLN]"YPSV"ZNP"RNQON"SY"QcMNLTN"[S"YUL]" MbN[TZNM" SY" QL" NL[PQLTN" TS\L[NP" [ZQ[K" UL" ZNP" OUNaK" MNL[" Q" nTRSMN]H" MU^LQR" [S"TRUNL[M"QL]"OUMU[SPM+"'L"[ZUM"cQMUMK"MZN"NLQT[N]"[ZN"OQ^\N"SP^QLU_Q[USLQR"QMXUPQ[USLM"SY" cNTSVUL^" Q" RNQPLUL^" SP^QLU_Q[USL" QL]ISP" MU^LUYWUL^" SXNLLNMMK" cW" ULU[UQ[UL^" Q"TSVXRN`" XPSTNMM" SY" PN]NMU^LUL^" [ZUM" XQP[UT\RQP" QPTZU[NT[\PQR" \LU[+" %ZN" M[SPW"URR\M[PQ[N]" [ZQ[" [ZNMN"XPSTNMMNM"QPN" M\PPS\L]N]"cW"QVcU^\U[W"QL]"\LTNP[QUL[WK"QL]"TQL"ZQP]RW"cN"MQU]"[S"cN"[ZSPS\^ZRW"XPNDVN]UQ[N]+"#L"[ZUM"XQP[UT\RQP"N`QVXRN"SY"[ZN"NVNP^NLTN" SY" Q" ]NMU^L" lQL]" ]NTUMUSLM" QcS\[" [ZUM" ]NMU^LmK" [ZN" QVcU^\S\M" h\QRU[W"TS\R]"cN"URR\M[PQ[N]"UL"[ZN"YSRRSaUL^"aQW1"""!! %ZN"V\LUTUXQRU[W"aQL[N]"[S"MU^LUYW"SXNLLNMM+""!! %ZN"M[QYY"UL"^NLNPQR"aQL[N]"TRSMN]"SYYUTNM+""!! %ZN" M[QYY" NONL[\QRRW" RNQPLN]" [S" ]UMT\MM" QL]" QP[UT\RQ[N" [ZN" TSL]U[USLM" [ZQ["PN^QP]N]" [ZN"SXNL"SYYUTN" RQWS\[" [ZPS\^Z" [ZN" TS\PMN"SY" [ZNUP" NL^Q^NVNL[" UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USL+"-QMN]"SL"[ZN"ULX\["XPS]\TN]"QM"Q"PNM\R["SY"[ZNMN"QT[UOU[UNMK" [ZN" M[QYY" ^S["OQPUS\M"LNN]M" QL]"aUMZNM" ULTR\]N]" UL" [ZN"]NMU^L"SY"[ZN"SXNL"RQWS\[K"QR[ZS\^Z"[ZNW"M[URR"XPNYNPPN]"[ZN"TRSMN]"SYYUTN"M[P\T[\PN+""

!! ."M[QYY"VNVcNP"SL" RNQON"PN[\PLM" [S" [ZN"MTNLN+"6ZN"MNNM" [ZN"MbN[TZNM"SY" [ZN"NL[PQLTN" TS\L[NP" QL]" XSUL[M" S\[" [ZQ[" [ZNW" MU^LUYW" TSLTNQRVNL[" QL]" MZS\R]"[Z\M"cN"PNTSLMU]NPN]+""

!! %ZN"TS\L[NP"^SNM"[ZPS\^Z"OQPUS\M"PS\L]M"SY"PNLN^S[UQ[USL"QL]"UM"NONL[\QRRW"PN]NMU^LN]+""

!! %ZN"c\UR]UL^"UM"TSLM[P\T[N]"QL]"STT\XUN]+""

9?9""

!! 6ZSP[RW" QY[NPK" [ZN" NL[PQLTN" TS\L[NP" UM" TSLMU]NPN]" [SS" SXNL+" $Na" XRQLM" QPN"VQ]N"YSP"QL"Q]d\M[VNL["SY"[ZN"NL[PQLTN"TS\L[NP+".L]"MS"[ZN"M[SPW"TSL[UL\NM+""

"%ZNMN" QPN" ZU^ZRW" TSVXRN`" XPSTNMMNMK" UL" aZUTZ" Q" ]NTUMUSL" UM" LS[" VNPNRW" Q"

]NTUMUSL+"#L"SLN"XNPMXNT[UONK"]NMU^L"]NTUMUSLM"QPN"\LU[M"[ZQ["PNVQUL"UL"VS[USL"YSP"Q"ONPW"RSL^"[UVNK"XSMMUcRW"TSL[UL\S\MRW+"7NUTb"ZQM"M\^^NM[N]"[aS"]UYYNPNL["aQWM"[S"QXXPSQTZ"[ZN"TSLTNX["SY"]NMU^L1"[S"XNPTNUON"Q"]NMU^L"QM"Q"XPS]\T["SP"aZQ["ZN"TQRRM"Q"qcR\NXPUL[rK" SP" TSLONPMNRW" QM" [ZQ[" SY" Q" XPSTNMM" SP" Q" qPNTUXNr" l7NUTb" 9EE!m+" %ZN"TSLTNX["SY"Q"cR\NXPUL["ULTR\]NM"NRNVNL[M"M\TZ"QM"[NTZLUTQR"]PQaUL^MK"SP^QLU_Q[USLQR"]UQ^PQVM" SP" S[ZNPK" aZUTZ" ]NMTPUcN" aZQ[" [ZN" ]NMU^L" MZS\R]" PNXPNMNL[" UL" U[M" YULQR"ONPMUSL+" 7N" ZQON" MNNL" N`QVXRNM" SY" M\TZ" QL" QXXPSQTZ" QcSON" UL" [ZUM" [ZNMUMK" YSP"N`QVXRN"aU[Z"PNYNPNLTN"[S"[ZN"[PQ]U[USLQR"cPUNY"SY"PNh\UPNVNL["lTY+"MNT[USLM"B.m+"#L"[ZUM"MN[\X"[ZN"]NMU^L"MSR\[USL"VU^Z["[Z\M"cN"MQU]"[S"cN"nXPNDVN]UQ[N]H+"7N"bLSa"Q"RS["QcS\["aZQ["aN"^N[K"UL"Q]OQLTN+"%ZN"PNTUXNK"SL"[ZN"S[ZNP"ZQL]K"PQ[ZNP"PNXPNMNL[M"Q" XS[NL[UQR" ^\U]NRULN" [S" [ZN" ]NMU^L" XPSTNMM+" %ZN" TSLTNX[" ULTR\]NM" VQLW" SY" [ZN"XUNTNM" [ZQ[" TQL" M\XXSP[" [ZN" NVNP^NLTN" SY" [ZN" ]NMU^L" MSR\[USL" k" c\[" aU[ZS\["TSL[PSRRUL^" [ZNUP" QT[\QR" YSPVQ[" QL]" [ZN" SP]NP" UL" aZUTZ" [ZNW" QXXNQP+" %ZN" PNTUXN"VU^Z["[Z\M"cN"MQU]"[S"XPSOU]N"Q"MN["SY"c\UR]UL^"cRSTbMK"c\["[ZN"aQW"[S"QMMNVcRN"SP"UL[NPXPN["[ZNMNK"UM"RNY["YSP"[ZN"]NMU^LNP"[S"]NONRSX+"2NPNK"[ZN"MQVN"]NTUMUSL"TQL"cN"XNPTNUON]" QL]" \L]NPM[SS]" ]UYYNPNL[RW" UY" [ZN" PNTUXN" UM" XNPTNUON]" YPSV" Q" ]UYYNPNL["XNPMXNT[UON+"%ZUM"MNNVN]"[S"ZQON"ZQXXNLN]"UL"[ZN"M[SPW"SY"[ZN"SXNLITRSMN]"NL[PQLTN"TS\L[NPK" UL" aZUTZ" ]UYYNPNL[" XRQWNPM" UL[NPXPN[N]" [ZN" PNTUXN" UL" aQWM" [ZQ[" XPS]\TN]"]UYYNPNL["VNQLUL^M"[S"U["l[SS"SXNLK"[SS"TRSMN]K"N[T+m+""#Y"aN" SLTN" Q^QUL" PNTQRR" [ZN" ]NTUMUSL" SY" [ZN" SXNL" SYYUTN" RQWS\[K" [ZUM" TSL]U[USL"

VQW"UL"SLN"XNPMXNT[UON"cN"XNPTNUON]"QM"Q"cR\NXPUL[+"-\["TSLMU]NPUL^"[ZN"QVcU^\U[W"[ZQ[" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" ULOSRON" UL" XPQT[UTNK" [ZNW" VU^Z[" PQ[ZNP" ZQON"PNXPNMNL[N]"Q"aQW"SY"[QRbUL^"QL]"[ZULbUL^"QcS\["[ZN"SXNL"SYYUTN"RQWS\["[ZQ["VQ]N"U["XSMMUcRN"YSP"[ZN"M[QYY"[S"QTTNX["U[+"2NPNK"YST\M"UM"LS["SL"[ZN"MZQXN"SY"[ZN"RQWS\[K"c\["PQ[ZNP"SL"[ZN"XPSTNMM"SY"VQbUL^"QTTNX[QLTN"XSMMUcRN+"%ZN"XSUL["UM"[ZQ["[ZN"aQW"[ZN"XQP[UTUXQ[USL" UM" SP^QLU_N]" MNNVM" [S" ZQON" Q" M\cM[QL[UQR" NYYNT[" SL" ZSa" [ZN" RQWS\["NM[QcRUMZNM" QM" Q" ]NMU^L" MSR\[USL+" #L" NVXUPUTQR" XPSdNT[M" RUbN" [ZSMN" N`XRSPN]" UL" [ZUM"M[\]WK" UL" aZUTZ" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" YQT[SPM" QPN" Q[[NVX[N]" [S" cN"TSLLNT[N]K" [ZNPN" QPN" LNTNMMQPURW" VQLW" \LbLSaL" YQT[SPM" Q[" M[QbN+" 0USUQ" QL]"*ZU[[UXN]]U"l!AAAm"M\^^NM["[ZN"TSLTNX["SY"qQVcU^\U[W"cW"]NMU^Lr"QM"QL"QXXPSQTZ"[S"RQ\LTZ" QL]" ]PUON" [ZN" ]NONRSXVNL[" XPSTNMM+" #L" M\TZ" QXXPSQTZNMK" [ZN" N`TZQL^NMK"

9?C""

PQ[ZNP" [ZQL" [ZN" XPNTSL]U[USLMK" PNXPNMNL[" [ZN" TNL[PQR" ]NMU^L" XQPQVN[NP+" #[" UM" [ZN"[NLMUSL"cN[aNNL"[ZN"XPNDVN]UQ[N]"]NTUMUSLM"QL]"[ZN"XQP[UTUXQ[UON"NL^Q^NVNL["[ZQ["UM"TNL[PQR+"$S["MS"V\TZ"YSP"[ZN"TSL[NL["SY"[ZNMN"]NTUMUSLMK"c\["VSPN"YSP"[ZN"XPSTNMM"SY"VQbUL^" [ZNV+" #[" UM" SL" [ZUM" [NLMUSL" MXQL" [ZQ["SP^QLU_Q[USLQR"]NONRSXVNL[M" [QbN"XRQTN+""

4$"(6&8*$$%(41&%4$*.3+42+#0&*&'"+#$&")&(%)%(%#!%&

.M" Q" ONZUTRN" [S" ULYSPV" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMNMK" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM"MNNVM"[S"NLZQLTN"[ZN"SP^QLU_Q[USLHM"QcURU[W"[S"ZQL]RN"TZQL^N"NONL[M+"#L"XPSdNT[M"[ZQ["ULOSRON"NRNVNL[M"SY"SP^QLU_Q[USLQR"PNM[P\T[\PUL^K" QL]"aZNPN" LNa"aQWM" SY"aSPbUL^" QL]" TSRRQcSPQ[UL^" QPN" TSLMU]NPN]"TNL[PQRK"[ZN"MXQ[UQR"SP^QLU_Q[USL"SY"aSPb"XPQT[UTN"VU^Z["PNXPNMNL["QL"SXXSP[\LU[W"[S"QXXPSQTZ" M\TZ"TZQL^N"NONL[M+"2NPNK" TSLONPMQ[USLM"QcS\[" T\PPNL[" QL]" Y\[\PN"aSPb"XPQT[UTN"VU^Z["^UON"[ZN"XQP[UTUXQL[M"Q"MNLMN"SY"SaLNPMZUXK"aU[Z"PN^QP]M"[S"[ZN"LNa+"%ZN" XQP[UTUXQ[USL" QT[UOU[UNM" TQL" [Z\M" NLZQLTN" TSVXPNZNLMUSLK" c\[" U[" VQW" QRMS"XPS]\TN" M\^^NM[USLM" [S" ULYSPV" [ZN" Y\[\PN" M[P\T[\PN+" #" ZQON" Q[[NVX[N]" [S" URR\M[PQ[N"[ZUM" [ZPS\^Z" [ZN" NVXUPUTQR" XPSdNT[M" N`XRSPN]" UL" [ZN" M[\]WK" YSP" N`QVXRN" aZNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"Q[[NVX[N]"[S"aSPb"[S^N[ZNP"UL"[ZN"<UbQ]S"2S\MN"XPSdNT[+"7U[Z" [ZN" XPSTNMM" ]NMU^LNP" QM" Q" LNa" XRQWNP" UL" [ZN" c\UR]UL^" XPSTNMMK" [ZUM"TSRRQcSPQ[USL" PNXPNMNL[M" \LYQVURUQP" ]NMU^L" TSL]U[USLM+"2NPNK"VQLW" TZQL^N" NONL[M"aNPN"ULOSRON]"QL]"MNONPQR"SY"[ZN"YQT[SPM"[ZQ["TSLM[U[\[N]"[ZN"]NMU^L"XPSTNMMK"aNPN"\LbLSaL+"%S"cN"QcRN"[S"NVcPQTN"[ZN"\LbLSaLK"aN"SY[NL"[PW"[S"^NLNPQ[N"Q"MNLMN"SY"MSVN[ZUL^"bLSaLK"MSVN[ZUL^"aN"TQL"PNTS^LU_NK"[ZPS\^Z"aZUTZ"[ZN"\LbLSaL"VU^Z["NQMUNP" [S" TSVXPNZNL]+"7U[Z" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" QM" [ZN" TNL[PQR" YPQVNaSPb"aU[ZUL"aZUTZ"M\TZ"TZQL^N"NONL[M"aNPN"SP^QLU_N]K"[ZN"NM[QcRUMZVNL["SY"PNTS^LU[USL"V\M["cN"TSLMU]NPN]"\LM[QcRN+"$S["SLRW"QPN"[ZNPN"VQLW"OSUTNM"ULOSRON]"UL"[ZN"QT[\QR"XPSTNMMNMK"aZSMN" XNPTNX[USLM" TZQL^N" SP"VS]UYW" TSL[UL\S\MRW+".RMSK" [ZNMN" OSUTNM"PNXPNMNL[" Q" RS[" SY" S[ZNP" XNSXRN1" TSRRNQ^\NMK" TRUNL[M" QL]" OUMU[SPMK" QRR" SY"aZUTZ" QPN"Y\[\PN" \MNPM" SY" [ZN" c\UR]UL^+" 2SaNONPK" [ZN" YPQVNaSPb" [ZQ[" [ZN" XQP[UTUXQ[USL"XPS]\TNM"TQL"XS[NL[UQRRW"QRRSa"[ZN"NM[QcRUMZVNL["SY"Q" YSPV"SY" PNTS^LU[USL"QVSL^"[ZN" XQP[UTUXQL[M+" %ZPS\^Z" [QRbUL^K" MZQPUL^" N`XNPUNLTNMK" N`TZQL^UL^" U]NQMK" ZQOUL^"

9?;""

TSL[PSONPMUNM"QL]"MS"YSP[ZK"QMMSTUQ[USLM"QPN"VQ]NK"M[SPUNM"QPN"c\UR[K"[SR]"QL]"PN[SR]K"QL]"Q"MNLMN"SY"PNTS^LU[USL"VU^Z["[Z\M"cN"TSLM[U[\[N]+"""%ZN"VQLQ^NP"QL]"[ZN"QPTZU[NT["TQL"\MN"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QM"Q"VNQLM"[S"

YSPV"M[SPUNM"[ZQ["TQL"M\XXSP["[ZNV"UL"[ZNUP"Q[[NVX[M"[S"MSRON"[ZNUP"[QMbM"QM"VQLQ^NP"QL]"QPTZU[NT[+"%ZN"XQP[UTUXQ[USL"QT[UOU[UNM"ZSR]"QL"SXXSP[\LU[W"[S"UL[NPXPN["[ZN"U]NQM"YPSV" [ZN" \MNPMK" QL]" [S"VS\R]" [ZNMN" UL[S" M\^^NM[USLM" [SK" QL]" ]NTUMUSLM" QcS\[K" [ZN"YSP[ZTSVUL^" SP^QLU_Q[USLQR" QL]ISP" QPTZU[NT[\PQR" ]NMU^L+" #Y" aN" Q^QUL" PNTQRR" [ZN"NONL[M"SY" [ZN"%SaL"2QRR"XPSdNT[K" #"XPSXSMN]"[ZQ[" RNQ]NPMZUX"VU^Z["cN"MNNL"QM" [ZN"QcURU[W"[S"XPS]\TN"qQ"XSUL["SY"PNYNPNLTNK"Q^QULM["aZUTZ"Q"YNNRUL^"SY"SP^QLU_Q[USL"QL]"]UPNT[USL"TQL"NVNP^Nr"l6VUPTUTZ"QL]"<SP^QL"!A,91"9F,"UL"7NUTb"9EEC1"?Fm+""2NPNK"qQ" YNNRUL^" SY" SP^QLU_Q[USL" QL]" ]UPNT[USLu" MNNVM" [S" NL[QUR" [ZQ[" [ZNPN" UM" Q" ^NLNPQR"MNLMN" SY" TSZNMUSLK" aU[Z" PN^QP]M" [S" [ZN" NONL[M" Q[" M[QbN+" %ZUM" ]SNM" LS["VNQL" [ZQ["NONPWSLN" ULOSRON]" Q^PNNM" SL" [ZN" ]UPNT[USLM" [QbNL" QL]" [ZN" ]NTUMUSLM"VQ]N" k" [ZNW"\M\QRRW"]SLH[+"-\["U["VNQLM"[ZQ["[ZN"M[SPUNM"lQcS\["[ZN"MXQ[UQR"RQWS\["SY"[ZN"UL[NPUSP"]NMU^L"SY" [ZN"ZS\MNK" [ZN"XPSXNP[UNM"SY" [ZN" PNTNX[USL"QPNQK" [ZN" MXQ[UQR" UL[NPMNT[USLM"cN[aNNL"]NXQP[VNL[MK"SP"S[ZNPm"ZQON"cNNL"PN[SR]"UL"ONPMUSLM"[ZQ["ZSR]"Q"PNYNPNLTN"[S"[ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" QL]" [ZNPNcW" cNTSVN" PNTS^LU_QcRN+" #L" [ZUM" MN[\XK" [ZN"LS[USL" SY" PNTS^LU[USL" VU^Z[" cN" MQU]" [S" cN" LNTNMMQPURW" QL]" cNLNYUTUQRRW" \LM[QcRNK"aU[Z"PNYNPNLTN"[S"SP^QLU_Q[USLQR"QM"aNRR"QM"[S"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"""#L" [ZN"<UbQ]S" 2S\MN" XPSdNT[K" [ZN" RQP^N" M[QYY" ^PS\X" [ZQ[" aQM" ULOSRON]" UL" [ZN"

ULU[UQR"XQP[UTUXQ[USL"QT[UOU[W"XPS]\TN]"OQPUS\M"ONPMUSLM"SY"Q"ZNRU`"QM"QL"ULX\["[S"[ZN"]NMU^L"SY".PbU[NVQHM" Y\[\PN" ]SVUTURN+" 6NONPQR" S[ZNP" ULX\[M"aNPN" XPS]\TN]" UL" [ZN"QT[UOU[UNMK"c\["[ZUM"XQP[UT\RQP"VN[QXZSP"aQM"VQUL[QULN]"QM"QL"ULMXUPQ[USL"[S"ULYSPV"[ZN"NVNP^NLTN"SY" [ZN"]NMU^L" MSR\[USLK" [ZPS\^ZS\[" [ZN"TS\PMN"SY" [ZN" YUPM["XZQMN"SY"[ZN"XPSdNT[+"%ZN"ZNRU`"NM[QcRUMZN]"U[MNRY"QM"Q"V\[\QR"XSUL["SY"PNYNPNLTN"[ZQ["LS["SLRW"ULMXUPN]" Q" PQL^N" SY" ONPMUSLM" SY" [ZN" ]NMU^L" YSP" Q" c\UR]UL^" TSLM[U[\[USLK" U[" QRMS"ULYSPVN]" [ZN" UL[NPUSP" RQWS\[" SY" [ZN" c\UR]UL^" QL]" ULMXUPN]" .PbU[NVQHM" LNa"SP^QLU_Q[USLQR"M[P\T[\PN+"=ULQRRWK"U["PNQTZN]"cQTb"[S"[ZN"XPSdNT[HM"XSUL["SY"]NXQP[\PNK"aZNPN"[ZN"ZNRU`"VU^Z["cN"MQU]"[S"PNXPNMNL["[ZN"YUPVHM"PNXNQ[N]"M[PQ[N^UT"QMXUPQ[USLM"aU[Z" PN^QP]M" [S" Y\[\PN" XPQT[UTN+" =PSV" !5.':*$&-$% +#60,.-2" [S" !10'++%&,+1,/*,.60,"82K" !,."$0+$1",'.2K" !+/,06*2K" !7o),(+% +"0,/2K" !#$*,<2K" !760-($0,"$%0'("$2K" !(.&$0-0'(.&% 0'("$2K" !7$$",.-% /*61$2" QL]" VQLW" VSPN" XSUL[M" SY"QMMSTUQ[USLK"[ZN"ZNRU`HM"dS\PLNW"cNTQVN"Q"RNONP"YSP"[ZN"XPSdNT[HM"XPS^PNMMUSL+"2NPNK"[ZN" PNYNPNLTN" ]SNM" LS[" PNh\UPN" [ZQ[" [aS" TSVXSLNL[M" UL" [ZN" TZQUL" SY" QMMSTUQ[USL"

9?F""

lYPSV" SLN" ONPMUSL" SY" [ZN" ZNRU`" [S" [ZN" LN`[mK" OUM\QRRW" TSPPNMXSL]+" %ZNW" LQ[\PQRRW"aSLH[" QM" [ZNW" ZQON" ^SLN" [ZPS\^Z" OQPUS\M" N`TZQL^NM" QRSL^" [ZN" aQW+" " &Q[ZNPK" U["PNXNQ[M" Q" XQP[UT\RQP" M[SPW% cW" Q]]UL^" LNa" XUNTNM" [S" U[+" %ZN" ZNRU`" cNTSVNM" n[ZN"V\[\QR"[ZUP]H"[ZQ["\LU[NM"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"cW"\MUL^"[ZUM"XSUL["SY" PNYNPNLTN" QM" Q"aQW" [S" TSSP]ULQ[N" QL]" TSVV\LUTQ[N+" %ZN"LS[USL" SY" [ZN"V\[\QR"[ZUP]"[Z\M"PNXPNMNL[M"Q"nTSLLNT[USLH+"%ZN"XSUL["UM"^NLNPQR"UL"[ZN"MNLMN"[ZQ["QR[ZS\^Z"[ZN"<UbQ]S"2S\MN"XPSdNT["aQM"\LUh\N"UL"VQLW"aQWMK"U["QRMS"ULOSRON]"VQLW"QMXNT[M"[ZQ[" QPN" TSVVSL" UL" lSP^QLU_Q[USLQR" QL]"QPTZU[NT[\PQRm" ]NONRSXVNL[" XPSdNT[M+"%ZN"TSLYRUT[M" TQ\MN]" cW" Q[[NVX[M" Q[" TPSMM" ]UMTUXRULQPW" TSRRQcSPQ[USLK" [ZN" TSVXRN`U[W"TQ\MN]"cW"VQLW"XNPMXNT[UONMK"[ZN"LNN]"YSP"Q"V\[\QR"XSUL["SY"PNYNPNLTN"[S"cPUL^"[ZN"]NONRSXVNL["UL[S"XPS^PNMMUSL"k"QRR"SY"[ZNMN"QPN"TSVVSL"YNQ[\PNM+""""7ZQ[" ZQXXNLN]" UL" [ZN" <UbQ]S" 2S\MN" XPSdNT[K" ZSaNONPK" aQM" [ZQ[" aZNL" [ZN"

XPSdNT[HM"]NMU^L"TSL]U[USLM"TZQL^N]K"[ZN"ZNRU`"cPSbN"QM"Q"V\[\QR"XSUL["SY"PNYNPNLTN+"(NMXU[N"[ZQ["[ZN"QT[\QR"ZNRU`"SY"T\PON]"RSSXM"VU^Z["UL"YQT["cN"OUM\QRRW"QXXQPNL["UL"[ZN"YULQR"]NMU^L"PNXPNMNL[Q[USL"QL]"QRMS" UL" [ZN"c\UR]UL^"[ZQ[" UM"T\PPNL[RW"NVNP^UL^"YPSV" [ZN"^PS\L]"QM" #"aPU[N" [ZUMK" [ZN"XQP[UTUXQL[M" RSM[" MU^Z["SY" [ZN" PNYNPNLTN"k" QL]"[ZNPNcW" QRMS" SY" [ZN" TSLLNT[USL" cN[aNNL" [ZN" QPTZU[NT[\PQR" ]NMU^L" QL]" [ZN"SP^QLU_Q[USLQR" ULX\[+" #Y" [ZN" M[SPW" UM" LS[" PNXNQ[N]" QL]" Q]]N]" [S" TSL[UL\S\MRWK" [ZN"PNYNPNLTN" UM" ^SLN+"2NPNK" [ZN" PSRN" SY" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" URR\M[PQ[NM" [ZQ[" [ZN"PNTS^LU[USL"SY"Q"]NMU^L"MSR\[USL"SP"q[ZN"YNNRUL^"SY"SP^QLU_Q[USL"QL]"]UPNT[USLr"]SNM"LS["QM"M\TZ"PNMU]N"aU[ZUL"[ZN"]NMU^L"U[MNRY+"&Q[ZNPK"U["UM"YSPVN]"cW"[ZN"XNPMXNT[UONK"YPSV"aZUTZ"aN"QXXPSQTZ"U[+"4NSXRN"UL"SP^QLU_Q[USLM"]SLH["PNTQRR"SP"PNVNVcNP"SL"Q"!1!" MTQRNK" [S" \MN" QL" QPTZU[NT[\PQR" N`XPNMMUSL" k" [ZNW" PNVNVcNP" [ZN" M[SPW+" %ZN"NM[QcRUMZVNL[" SY" Q" XSUL[" SY" PNYNPNLTN" VU^Z[" [Z\M" cN" XNPTNUON]" QM" Q" ONZUTRN" [S"M\XXSP[K" LS[" [ZN" ]NONRSXVNL[" SY" NQTZ" SY" [ZNMN" ]NMU^L" XPSTNMMNMK" c\[" [ZN"NLZQLTNVNL["SY"Q"nTSLLNT[USLH"cN[aNNL"[ZNV+"""

$2%&3*#0-*0%&$(*'&

.M" #" ZQON" ]UMT\MMN]" UL" *ZQX[NP" ;K" [ZN" TSVV\LU[W" SY" XPSYNMMUSLQR" QPTZU[NT[M"XPNMNL[RW" MNNVM" [S" ^S" [ZPS\^Z" MU^LUYUTQL[" TZQRRNL^NM+" %ZN" TRSMNP" TSRRQcSPQ[USL"cN[aNNL" QPTZU[NT[" QL]" TRUNL[" SP^QLU_Q[USL" QL]" [ZN" UL[NPYQTN" [ZQ[" [ZUM" MNNVM" [S"

9?B""

ULOSRON" PNXPNMNL[M" QL" UVXSP[QL[" TZQRRNL^N" [ZQ[" ULTR\]NM" Q" RUL^\UM[UT" ]UVNLMUSL+".PTZU[NT[\PQR" ]NMU^L" XPQT[UTN" UM" ]UYYUT\R[" YSP" QPTZU[NT[M" [S" N`XRQULK" RN[" QRSLN" YSP"RQWVQL"[S"TSVXPNZNL]+"%ZN"TRSMNP"RULb"PNh\UPNM"ULTPNQMN]"TSVV\LUTQ[USLK"QL]"[ZN"QPTZU[NT[" XPSYNMMUSL" ]SNM" LS[" ZQON" Q" [PQ]U[USL" YSP" TSVV\LUTQ[UL^" [ZNUP" ]NMU^L"XPSTNMM"[S"MSTUN[W"Q["RQP^N+"&Q[ZNP"U["UM"M\PPS\L]N]"cW"Q"TNP[QUL"TSLTNQRVNL[K"aZUTZ"QRMS"TSL[PUc\[NM"[S"\XZSR]"[ZN"TSVV\LU[WHM"XPSYNMMUSLQR"PNTS^LU[USL+"7U[Z"T\PPNL["MSTUN[QR" [NL]NLTUNMK" UL" aZUTZ" TSRRQcSPQ[USL" QTPSMM" XPSYNMMUSLM" QL]" QL" ULTPNQMN]"ULOSRONVNL["SY"\MNPM"UL"XPS]\T["]NONRSXVNL["UM"PN^QP]N]"QM"TNL[PQRK" [ZN"QcURU[W"[S"TSVV\LUTQ[N"cNTSVNM"]NTUMUON"[S"QRR"XQP[UNM+"#"aURR"LS["N`XQL]"Y\P[ZNP"SL"[ZUM"XSUL["ZNPNK"c\["MUVXRW"PNXNQ["Q"cQMUT"UVXRUTQ[USL"[ZQ["[ZNMN"]NONRSXVNL[M"MNNVM"[S"ZSR]+"#L" [ZUM" TRUVQ[N" SY" N`[NL]N]" TSRRQcSPQ[USL" QTPSMM" XPSYNMMUSLQR" cSP]NPMK" U[" cNTSVNM"TP\TUQR" [S" cN" QcRN" [S" RN^U[UVU_N" WS\P" TZSUTN" cW" N`XRQULUL^" U[M" MU^LUYUTQLTN+" #Y" [ZN"QPTZU[NT[HM" QcURU[W" [S" ONPcQRU_N" ZNP" TSL[PUc\[USL" UM" aNQbK" ZNP" ULOSRONVNL[" UL" Q"XPSdNT["cNTSVNM"]UYYUT\R["[S"N`XRQUL"QL]"d\M[UYW"[S"TRUNL[M+"%ZUM"RUL^\UM[UT"TZQRRNL^N"]SNM" LS[" SLRW" VQbN" U[" VSPN" ]UYYUT\R[" YSP" QPTZU[NT[M" [S" N`XRSPN" LNa" c\MULNMM"SXXSP[\LU[UNM+".RMSK"U["VQbNM"TSLTPN[N"TSRRQcSPQ[USLQR"NL]NQOSPM"]UYYUT\R["[S"ZQL]RN+"%ZN" RUL^\UM[UT" MNTPNTW" QL]" [ZN" LSLQ[[NL]QLTN" [S" ONPcQRU_Q[USL" NM[QcRUMZN]"aU[ZUL"[ZN" [PQ]NK" UM" TSLMU]NPN]" Q" TNL[PQR" XQP[" SY" [ZN" XPSYNMMUSLHM" MNLMN" SY" U]NL[U[W+" %ZN"QcURU[W" [S" [QbN" SLK" N`XRSPN" QL]" [NM[" LNa"aQWM" SY" aSPbUL^" MNNVM" [S" cN" Q" TNL[PQR"TZQRRNL^N" YSP" [ZN" QPTZU[NT[" XPSYNMMUSL" UL" [ZN" TSVUL^" WNQPM+" 7ZURN" QPTZU[NT[\PQR"[ZNSPUM[M"QTbLSaRN]^N" [ZQ[" [ZN"TZQRRNL^N"SY"ONPcQRU_Q[USL"N`UM[MK"QL]"SYYNP"TNP[QUL"N`XRQLQ[USLM"SY"U[M"SPU^ULK"LS["VQLW"XPSXSMQRM"Q]]PNMM"ZSa"U["TQL"cN"Q[[NL]N]"[S"UL"Y\[\PN"XPQT[UTN+""'

$2%&!3+%#$&*4&*&8"=+#0&$*(0%$&

%ZN"N`[NL]N]" YST\M"SL"XQP[UTUXQ[USL" UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM" MNNV" [S"XPSXSMN" [ZQ[" [ZN" ]NMU^L" SY" M\TZ" MXQ[UQR" YPQVNaSPbM" UM" M\XXSMN]" [S" NVNP^N" UL" Q"TSRRNT[UON"XPSTNMM+"#L"[ZUM"MN[\XK"[ZN"TRUNL["SP^QLU_Q[USL"UM"ULTPNQMUL^RW"TSLMU]NPN]"Q"!1'N&$+,-.$02K" QM" U[" aQM" TZQPQT[NPU_N]" UL" SYYUTUQR" ]ST\VNL[M" SY" [ZN" %SaL" 2QRR"XPSdNT[+" %S" XPSYNMMUSLQR" QPTZU[NT[MK" U[" ULOSRONM" [ZQ[" MNONPQR" SY" [ZN" XSUL[M" #" ZQON"UL]UTQ[N]"QcSON"UL"[ZUM"TZQX[NP"aS\R]"QYYNT["[ZNUP"XPQT[UTN+"=UPM[K"[ZN"LS[USL"SY"[ZN"TRUNL["QM"Q" nTSVXS\L]"cS]W"SY"\MNPMH" PQ]UTQRRW"TZQL^NM" [ZN"QPTZU[NT[HM" [PQ]U[USLQR"

9??""

XNPTNX[USL"SY"Q"TRUNL[+"2NPNK"[ZN"\MNPM"QPN"LS["TSVXS\L]"UL"[ZN"MNLMN"[ZQ["[ZNW"QPN"UVQ^ULN]" Y\[\PN" \MNPM" SY" [ZN" c\UR]UL^K" aZUTZ" aS\R]" cN" Q" [WXUTQR" MU[\Q[USL" UL"QPTZU[NT[\PQR" ]NMU^L" aSPb+" &Q[ZNPK" [ZNW" QPN" QT[UONK" ULOU[N]" UL[S" [ZN" XQP[UTUXQ[USL"QT[UOU[UNMK"aU[ZUL"aZUTZ"[ZNW"[QRb"QcS\["[ZNUP"aSPb"XPQT[UTN"QM"[ZNW"UVQ^ULN"U["[S"cN"SP^QLU_N]"UL"[ZN"YSP[ZTSVUL^"c\UR]UL^+""6NTSL]K"[ZN"nTSVXS\L]"cS]WH"UM"QT[UON"UL"[ZN"MNLMN"[ZQ["U[M"PNXPNMNL[Q[UONM"RNQPL"

QL]" TZQL^N" UL" [ZN" TS\PMN" SY" [ZNUP" NL^Q^NVNL[+" %ZNUP" TSLONPMQ[USLM" QcS\[" MXQTN"TZQL^N" [ZNUP" XNPTNX[USL" SY" [ZN" [ZUL^M" [ZNW" [QRb" QcS\[+" %ZNMN" ]UMXRQTNVNL[M" QPN"TSVXRN`"UL"[ZN"MNLMN"[ZQ["[ZN"XQP[UTUXQL[M"[ZNVMNRONM"SY[NL"]S"LS["MNN"[ZNVg"[ZNW"ZQON"aZQ[" aN"VU^Z[" TQRR" Q" qcQ]"VNVSPW" M\PYQTNr" l7NUTb" !A?A1" 9E,m+" %ZPS\^Z"[ZNUP"N`TZQL^NM"UL"[ZN"XQP[UTUXQ[USL"QT[UOU[UNMK"[ZNW"[NRR"QL]"PN[NRR"M[SPUNMK"QL]"UL"[ZUM"XPSTNMM"SY"M[SPW[NRRUL^K"[ZN"M[SPUNM"aQL]NP"UL"OQPUS\M"]UPNT[USLM+"#Y"aN"RSSb"cQTb"SL"[ZN" M[SPW" QcS\[" [ZN" NL[PQLTN" TS\L[NP" UL" [ZN" %SaL" 2QRR" XPSdNT[K" [ZN" XQP[UTUXQL[MH"Q[[U[\]N"[SaQP]M"[ZUM"XQP[UT\RQP"ScdNT["aNL["[ZPS\^Z"MNONPQR"TZQL^NM"QRSL^"[ZN"aQW+"=PSV" Q" M\cM[QL[UQRRW" nSXNLH" ONPMUSL" UL" [ZN" SPU^ULQR" QPTZU[NT[\PQR" ]NMU^L" XPSXSMQR"[ZQ["aQM"TSLMU]NPN]"n[SS"SXNLHK"[S"[ZN"VSPN"PNM[PUT[N]"OQPUQL["[ZQ["aQM"XNPTNUON]"QM"[SS" MNXQPQ[N]" YPSV" [ZN" TRUNL[M" QL]" [Z\M" n[SS" TRSMN]H+".Y[NP" [ZN" RQ[[NP" ONPMUSL"aQM"PN]NMU^LN]"QL]"VQ[NPUQRU_N]"UL"[ZN"LNa"c\UR]UL^K"[ZN"NL[PQLTN"TS\L[NP"aNL["[ZPS\^Z"Y\P[ZNP" PNTSLMU]NPQ[USLMK" ]\N" [S" Y\LT[USLQRU[W" QL]" MNT\PU[W" UMM\NM+" 6SVN" SY" [ZNMN"TSL[UL\S\M"]NONRSXVNL[M"QPN"YQVURUQP"[S"XPSYNMMUSLQR"QPTZU[NT[MK"aZS"QPN"^NLNPQRRW"\MN]" [S" Q" ]NMU^L" XPSTNMMK" aZNPN" [ZUL^M" NVNP^N" QTTSP]UL^RW+" -\[" UY" nQL"SP^QLU_Q[USLQR" ULX\[H" XPS]\TN]" cW" Q" nTSVXS\L]" cS]W" SY" \MNPMH" QPN" PN^QP]N]" Q"]NMU^L" XQPQVN[NP" k" aZQ[" ]SNM" U[" [ZNL" VNQL" UY" [ZN" ULX\[" TSL[UL\S\MRW" TZQL^NMo"%ZNMN" TQL" ULOSRON" MVQRRNP" SP" cU^^NP" ]UMXRQTNVNL[MK" cQMN]" SL" N`TZQL^NM" QL]"TSL[UL\S\M" ]UMT\MMUSLM" QL]" M[SPUNM" [ZQ[" NVNP^N" QL]" [PQONR" SL" QL" SP^QLU_Q[USLQR"lTRUNL[m" RNONR+"%ZN"MZUY[M"VQW"QXXNQP"MVQRR"SP" ULOUMUcRNK"c\[" [ZN"TSLMNh\NLTNM"TQL"cN"M\cM[QL[UQR"UY"[ZNW"ULOSRON"TZQL^NM"UL"[ZN"SP^QLU_Q[USLHM"MNLMN"SY"U]NL[U[W+"%S"cN"QcRN" [S" PNMXSL]" [S" [ZUM"VS[URU[W" XSMNM" Q" TZQRRNL^N" [S" [ZN" TSL[NVXSPQPW" QPTZU[NT[+"%ZN"TQXQTU[W"[S"ZQL]RN"[ZN"VSOUL^"[QP^N["[Z\M"cNTSVNM"Q"nTSLLNT[USLH"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+""""#L" [ZN" MSVNaZQ[" \L[PQ]U[USLQR" ]NMU^L" TSRRQcSPQ[USL" cN[aNNL" [ZN" QPTZU[NT[" QL]"

[ZN" TRUNL[" QM" nQ" TSVXS\L]" cS]W" SY" \MNPMHK" [ZN" QPTZU[NT[" PNXPNMNL[M" M\cM[QL[UQR"N`XNP[UMN"k"QM"Q"XPSYNMMUSLQR"]NMU^LNP+"'L"[ZN"S[ZNP"ZQL]K"\MNPM"QPN"QRMS" [NL[Q[UON"N`XNP[MK"UL"[ZNUP"TQXQTU[W"SY"ZQOUL^"bLSaRN]^N"SY"[ZNUP"XPQT[UTN+"#["UM"[Z\M"QL"\LNONL"

9?,""

PNRQ[USLMZUX" [ZQ[" h\NM[USLM" [ZN" cQRQLTN" cN[aNNL" bLSaRN]^N" QL]" ULYR\NLTN" UL" [ZN"]NMU^L"XPSTNMM+".M"#"ZQON"URR\M[PQ[N]"QL]"]UMT\MMN]"SL"MNONPQR"STTQMUSLM"QcSONK"[ZN"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL"XPS]\TNM"Q"M\cM[QL[UQR"QVS\L["SY" ULX\[+"." RS["SY"[ZUM" ULX\[" TQL" cN" TZQPQT[NPU_N]" QM" ZQOUL^" QL" ULYSPVQ[USLQR" h\QRU[W+" #[" ]NMTPUcNM"MXQ[UQR"QMXNT[M"SY"[ZN"]QURW"aSPbg"YULQLTUQR"XPNTSL]U[USLMg"]N[QURM"QcS\["[ZN"c\UR]UL^"MU[NK" QL]"VSPN+"-\[" h\U[N" QL" QVS\L[" SY" [ZN" ULX\[" QRMS" PN^QP]M" TSL[N`[\QR" QMXNT[M"RUbN" Q[VSMXZNPNK" XPS`UVU[W" XPNYNPNLTNMK" XNPTNX[USLM" SY" nSXNLH" QM" SXXSMN]" [S"nTRSMN]HK" QL]" MS" YSP[Z+" "%ZNMN" QPN" XPNYNPNLTNM" [ZQ[" QPN" cQMN]"SL" TSL[N`[" QL]" [ZQ["VU^Z["TZQL^N"QTTSP]UL^RW+"""%S"QPTZU[NT[MK" U["VU^Z["cN" PNRNOQL[" [S"]UOU]N" [ZN"TSL[NL["SY" n[ZN"SP^QLU_Q[USLQR"

ULX\[H" cN[aNNL" nXUNTNM" SY" ULYSPVQ[USLH" QL]" nXUNTNM" SY" ULMXUPQ[USLH+" %ZN"nULYSPVQ[USLQR" XUNTNMH" QPN" PNQMSLQcRW" M[QcRN" \LU[M" [ZQ[" TQL" Q]]" SL[S" [ZN" cQMUT"VQ[NPUQR" [ZQ[" ULYSPVM" [ZN" XPSdNT[K" QM" QL" UL[N^PQ[N]" XQP[" SY" [ZN" [PQ]U[USLQR" cPUNY" SY"PNh\UPNVNL[M+" %ZN" nULMXUPQ[USLQR" XUNTNMHK" SL" [ZN" S[ZNP" ZQL]K" QPN" QT[UON" \LU[M" [ZQ["VS]UYW"QL]"[PQONR"QM"[ZN"XPSdNT["QL]"[ZN"]NMU^L"MSR\[USL"NVNP^NM+"-NTQ\MN"SY"[ZNUP"YSPVQ["QL]"TSLM[U[\[USLK"[ZNW"TQLLS["cN"[PQLMYNPPN]"UL"!1!"ONPMUSLM+"%ZNW"MZS\R]"cN"[PQLMRQ[N]K" aU[Z" PNYNPNLTN" [S" [ZN" M[SPUNM" [ZNW" ZSR]K" c\[" cQMN]" SL" QPTZU[NT[\PQR"N`XPNMMUSLM" ]NONRSXN]" cW" XPSYNMMUSLQR" QPTZU[NT[M+" %S" [ZN" QPTZU[NT[K" M\TZ" Q"PNMXSLMUcURU[W" ULOSRONM" TNP[QUL" TZQRRNL^NM+" =UPM[K" [ZUM" bUL]" SY" [PQLMRQ[USL" XPSTNMM"ULOSRONM" [ZN" QcURU[W" [S" cQRQLTN" [ZN" [NLMUSL" cN[aNNL" cNUL^" ZWXNPMNLMU[UON" QL]"QPPS^QL[" QM" Q" ]NMU^LNP+".M"VNL[USLN]" QcSONK"V\TZ" SY" [ZN" ULX\[" XPS]\TN]" UL" [ZN"XQP[UTUXQ[USL"QT[UOU[UNM"aURR"LNTNMMQPURW"cN"TSL[N`[\QR"QL]"PNXN[U[UON+"%ZN"[PQLMRQ[USL"SY" [ZN" ULMXUPQ[USLQR" XUNTNM" MZS\R]" [Z\M" LS[" cN" VQ]N" [SS" RU[NPQR+" &Q[ZNPK" [ZN"lQPTZU[NT[\PQRm"]NMU^LNP"LNN]M"[S"^S"cNZUL]"[ZNMN"ULX\[M"QL]"[PQLMRQ[N"[ZNV"UL[S"LNa"ONPMUSLM+"""7ZNPN" MNTPNTW" UM" ULOSRON]K" QPPS^QLTN" UM" SY[NL" TRSMN" Q[" ZQL]+" %ZN" TZSPN" SY"

[PQLMRQ[UL^"Q"xXUNTN"SY"ULMXUPQ[USLH"VU^Z["[Z\M"cN"MQU]"[S"cN"XS[NL[UQRRW"]NVQL]UL^K"QM" U[" PNYNPM" [S" XNSXRNHM" TSL[N`[\QR" XNPTNX[USLK" aZUTZ" VQW" TZQL^NK" c\[" QRMS"XS[NL[UQRRW" M[UV\RQ[UL^K" QM" U[" VU^Z[" UL]\TN" TSLTNX[\QR" U]NQM" QL]" MZQXNM" [ZQ[" TQL"TSL[PUc\[N" [S" [ZN" SL^SUL^"]NMU^L"XPSTNMM"cW" cNUL^"cQMN]"SL"]UYYNPNL[" PNYNPNLTNM+"%ZN"M[SPW"SY"[ZN"ZNRU`"UL"[ZN"<UbQ]S"2S\MN"XPSdNT["TQL"MNPON"QM"QL"N`QVXRN+"%ZN"MXUPQR"MZQXN"SY" [ZN"T\PON]" RSSXM" [ZQ["aQM"NM[QcRUMZN]"QM"QL" ULX\["XPS]\TN]" UL" [ZN"ULU[UQR"XQP[UTUXQ[USL"QT[UOU[UNM"aQM"\MN]"cW" [ZN"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"QM"ULMXUPQ[USL+" #[" aQMLH[" QL" NQMW" [QMb" [S" ^N[" U[" NM[QcRUMZN]" QM" Q" ^NLNPQR" XSUL[" SY"

9?A""

PNYNPNLTN" [S" ULYSPV" [ZN" ]NMU^L" XPSTNMM" QM" U[" ULOSRON]" Q" RS[" VSPN" [ZQL" d\M[" [ZN"XZWMUTQR"T\PONM+" #["aQM"V\]]RN]" [ZPS\^Z"QL]"Y\P[ZNP"]NONRSXN]" UL"Q"TSLMU]NPQcRW"]NVQL]UL^" ]NMU^L" XPSTNMM+" -\[" U[" ULMXUPN]" [ZN" QPTZU[NT[M" UL" QL" \LYQVURUQP" ]NMU^L"MU[\Q[USLK"QL]"U["TSL[UL\N]"[S"]NONRSX"QM"Q"XSUL["SY"PNYNPNLTN+"2NPNK"aN"VU^Z["PNTQRR"[ZN"TSLTNX[\QR" U]NQ"SY" QXXPSQTZUL^" [ZN"]NMU^L"XPSTNMM"QM" Q"cR\NXPUL["SP" Q" PNTUXN+"7ZNPNQM" nULYSPVQ[USLQR" XUNTNMH" VU^Z[" cN" ZQOUL^" Q" TNP[QUL" cR\NXPUL[" h\QRU[W" [S"[ZNVK" [ZN" nULMXUPQ[USLQR" XUNTNMH" VU^Z[" PQ[ZNP" cN" MNNL" QM" UL]UTQ[USLM" [ZQ[" LNN]"[PQLMRQ[USL" UL"SP]NP" [S" [QbN"MZQXN"QL]" [ZNPNcW"Q]SX["VNQLUL^+"%ZNMN"QPN"c\UR]UL^"cRSTbM"[ZQ["TQL"cN"QMMNVcRN]"UL"]UYYNPNL["aQWM"QTTSP]UL^"[S"[ZN"TSL[N`[" UL"aZUTZ"[ZNW"QXXNQP+"%ZN"nXUNTNM"SY"ULMXUPQ[USLH"VU^Z["[Z\M"cN"MQU]"[S"PNXPNMNL["Q"XS[NL[UQR"nTSLLNT[USLH"cN[aNNL"[ZN"[aS"]NMU^L"XPSTNMMNM+"""

$2%&,+*!2("#+!&=4B&$2%&46#!2("#+!&,%4+0#&3"0+!&&

.cSONK" #" ZQON" XSUL[N]" S\[" [ZQ[" [ZN" QPTZU[NT[" XPSYNMMUSL" VU^Z[" ^QUL" YPSV" Q"YSP[ZTSVUL^"]UMT\MMUSL"QcS\[" [ZN"XPSYNMMUSLHM"ONPcQRU_UL^"TQXQTU[W+" #L"Q]]U[USLK" #"aS\R]" XPSXSMN" Q" ]UMT\MMUSL" [ZQ[" N`XRSPNM" [ZN" TSVXN[NLTUNM" [ZQ[" QPN" LNN]N]" [S"M\XXSP["[ZN"QcURU[W"[S"LQOU^Q[N"[ZNMN"bUL]M"SY"]NMU^L"XPSTNMMNM+""#Y" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" ^NLNPQ[NM" nTSLLNT[USLMH" cN[aNNL" [ZN"

SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNMK" [ZNMN" VU^Z[" PNh\UPN" LNa"aQWM"SY"aSPbUL^"QL]" [WXNM"SY"TSRRQcSPQ[USL1" UL[NPMNT[USLM" [ZQ["QPN"LS[" [ZSPS\^ZRW"NM[QcRUMZN]" cN[aNNL" [ZNMN" [aS" ]NMU^L" YUNR]M+" #[" XS[NL[UQRRW" ULOSRONM" QL" N`[NL]N]"TSRRQcSPQ[USL"cN[aNNL"QPTZU[NT[M"QL]%XPSTNMM"]NMU^LNPM+"-\["QR[ZS\^Z" [ZNPN"VU^Z["cN"XPSTNMM"]NMU^LNPM"ULOSRON]"UL"[ZUM"LNa"]NMU^L"QXXPSQTZK"Q[[NVX[UL^"[S"M\XXSP["[ZN" RULb" cW" SP^QLU_UL^" [ZN" XQP[UTUXQ[USL" QT[UOU[UNMK" [ZN" RULb" QRMS" PNh\UPNM" Q" TRSMNP"PNRQ[USLMZUX" cN[aNNL" [ZN" QPTZU[NT[M" QL]" [ZN" NL]" \MNPM" [ZNVMNRONM+" %ZUM" ULTPNQMN]"XPS`UVU[W"TQRRM"YSP"QL"Q]OQLTN]"QcURU[W"[S"ZQL]RN"M\TZ"TSRRQcSPQ[USL+"""%S]QWK"XPSYNMMUSLQR"QPTZU[NT[M"QPN"LS["[PQULN]"[S"PNMXSL]"[S"SP"VQLQ^N"[ZN"TRUNL["

QM" Q" nTSVXS\L]" cS]W" SY" \MNPMHK" aZS" QPN" QT[UON" QL]" TSL[UL\S\MRW" TZQL^UL^" UL"MVQRRNP"SP"RQP^NP"MZUY[M+"%S"cN"QcRN"[S"LQOU^Q[N"[ZUM"TSL[QT[K"[ZN"QPTZU[NT["XPSYNMMUSL"

9,E""

LNN]M"[S"TSLMU]NP"LNa"TSVXN[NLTUNMK"XPNMNL[RW"LS["UVXRNVNL[N]"UL"[ZN"YUNR]+".L]"QM"aN"bLSa"YPSV"]NTQ]NM"QL]"TNL[\PUNM"SY"NM[QcRUMZUL^"LNa"[NTZLSRS^UNMK"MSY["QL]"ZQP]"QRUbNK"U["[QbNM"[UVNK"NYYSP["QL]"XQ[UNLTN"[S"UL[PS]\TNK"Q]SX["QL]"ULM[U[\[USLQRU_N"LNa" aQWM" SY" aSPbUL^+" #L" SP]NP" [S" TSLMSRU]Q[NK" LNa" TSVXN[NLTUNM" LNN]"U]NL[UYUTQ[USL"QL]"[NM[UL^K"aZUTZ"ZQM"LS["WN["cNNL"[ZSPS\^ZRW"Q]]PNMMN]"UL"[ZN"YUNR]+"2NPNK" N`[NL]N]" [NM[UL^" QL]" [PUQRUL^" UM" LNTNMMQPWK" UL" SP]NP" YSP" [ZNMN" LNa"TSVXN[NLTUNM"[S"NM[QcRUMZ"QL]"[ZN"XS[NL[UQRU[W"SY"[ZN"nTSLLNT[USLMH"cN[aNNL"[ZN"[aS"]NMU^L"YUNR]M" [S"PNONQR+"6NONPQR"SY" [ZN"XSUL[M"#"ZQON"UL]UTQ[N]"QcSON"VU^Z[" UL" [ZUM"PNMXNT["[S"MNNV"[PUOUQR+"7N"bLSa"[ZQ["Q[[NVX[M"Q["TSRRQcSPQ[USL"cN[aNNL"^PS\XM"SY"]UYYNPNL[" XPSYNMMUSLQR" cQTb^PS\L]" QPN" ]UYYUT\R[" NL]NQOSPMK" UL"aZUTZK" [ZN" ULOSRON]"XQP[UNM" [PW" [S" YUL]" LNa" aQWM" [S" SP^QLU_N" [ZN" TSRRQcSPQ[USL+" <QLW" M[\]UNM" ZQON"Q]]PNMMN]"[ZUM"TZQRRNL^NK"QRMS"aU[ZUL"[ZN"QPNQ"SY"]NMU^L+"7ZNPN"[ZUM"M[\]W"]UYYNPMK"UM"[ZPS\^Z" [ZN" U]NQ" SY" cPUL^UL^" [ZUM" XQP[UT\RQP" ^PS\X" SY" XRQWNPM" QL]" XZNLSVNLQ"[S^N[ZNP" lQPTZU[NT[MK" XPSTNMM"]NMU^LNPM" QL]"NL]"\MNPMm" QL]"N`XRSPUL^" [ZN" UL[NPYQTN"QL]"UL[NPQT[USL"cN[aNNL"[ZNV+"""-QMN]" SL" [ZN" ]WLQVUTMK" ]URNVVQM" QL]" [NLMUSLM" [ZQ[" aNPN" PNONQRN]" UL" [ZN"

XPS]\T[USL"SY"[ZUM"NVXUPUTQR"VQ[NPUQRK"#"aURR"M\^^NM["[aS"]NMU^L"RS^UTM"[ZQ["MNNV"[S"PNXPNMNL[" aQWM" SY" aSPbUL^1" SXXSP[\LU[UNM" QL]" ]URNVVQM" ZU]]NL" UL" [ZUM" [WXN" SY"]NMU^L"TSRRQcSPQ[USL+"#"TQRR" [ZNMN"[ZN"]UQTZPSLUT"QL]"[ZN"MWLTZPSLUT"]NMU^L"RS^UTMK"PNMXNT[UONRW+"n%ZN"]UQTZPSLUT"]NMU^L"RS^UTH"VU^Z["cN"MQU]"[S"PNYRNT["TNL[PQR"XQP[M"SY"[ZN" c\UR]UL^" XPSdNT[" QM" aN" bLSa" U[+" 7U[Z" [ZUM" XSUL[" SY" ]NXQP[\PNK" [ZN" NONL[M"ULOSRON]"UL"[ZN"]NMU^L"XPSTNMM"[QbN"XRQTN"UL"Q"MNh\NL[UQR"M[P\T[\PNK"QL]"NQTZ"SY"[ZN"XRQWNPM"ZQM"Q"]NYULN]"PNMXSLMUcURU[W+"2NPNK" [ZN"XPSTNMMNM"SY"NL]"\MNP"XQP[UTUXQ[USL"QPN"N`XNPUNLTN]"QM"\LYQVURUQP"cW"[ZN"QPTZU[NT["QM"aNRR"QM"cW"[ZN"TRUNL[+"-\["QR[ZS\^Z"[ZN"ULX\["VU^Z["MNNV"]UYYNPNL[K"[ZN"ZQL]RUL^"QL]"YQTURU[Q[USL"SY"[ZNMN"QT[UOU[UNM"QPN"RQP^NRW" [QbNL" TQPN" SY" k" cW" [ZN" XPSTNMM" ]NMU^LNP+" %ZN" ]UOUMUSL" SY" RQcSP" UM" TRNQP1"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"XPUVQPURW"aSPb"UL"MNXQPQ[N"XPSTNMMNM+"%ZN"XPSTNMM"]NMU^LNP" UM" PNMXSLMUcRN" YSP" [ZN" XRQLLUL^" QL]" N`NT\[USL" SY" [ZN" XQP[UTUXQ[USL"QT[UOU[UNMK"QL]"QRMS"YSP"[ZN"[PQLMRQ[USL"SY"[ZN"S\[TSVN"XPS]\TN]+"""7ZQ[" ]SNM" [ZUM" M[P\T[\PQR" RS^UT" VNQL" YSP" [ZN" QVcU[USL" SY" XPS]\TUL^"

nTSLLNT[USLMH"cN[aNNL"[ZN"[aS"]NMU^L"YUNR]Mo".VSL^"S[ZNP"[ZUL^MK"U["VNQLM"[ZQ["[ZN"TSRRQcSPQ[USL"VU^Z["aSPb"aU[ZS\["RQP^NP"Q]d\M[VNL[M+"#["MNT\PNM"[ZN"UL[N^PQ[USL"SY"Q"LNa"[WXN"SY"ULX\["[S"[ZN"]NMU^L"XPSTNMM" [ZQ["TSPPNMXSL]M"aU[Z"MSTUN[QR"[NL]NLTUNM+".RMSK" U[" ULOSRONM"Q" [PQLMRQ[USL" TZQRRNL^N" YSP" [ZN"QPTZU[NT[" UL"ZNP"Q[[NVX[M" [S"cPUL^"

9,!""

[ZN" \LYQVURUQP" nSP^QLU_Q[USLQR" ULX\[H" UL[S" QPTZU[NT[\PQR" YSPV+" -\[" [ZN" QPTZU[NT[" UM"M[URR"Q["Q"MQYN"]UM[QLTN"YPSV"[ZN"TRUNL["QM"Q"nTSVXS\L]"cS]W"SY"\MNPMH+"%ZN"MU[\Q[USL"UM"TSVYSP[QcRN+"(NMXU[N" [ZN"M\cM[QL[UQR"]UYYNPNLTNM" U["TQ\MNM" [S" [ZN"^NLNPQR"XPSdNT["M[P\T[\PNK" [ZN" QPTZU[NT[" TQL" ZSR]" SL" [S" ZNP" aNRRDbLSaL" ]NMU^L" QXXPSQTZK" aZURN"N`XNPUVNL[UL^" aU[Z" [ZN" \LbLSaL+" .PTZU[NT[M" ULOSRON]" UL" [ZN" %SaL" 2QRR" XPSdNT["[Z\M"TZQPQT[NPU_N]"[ZN"]NMU^L"TSL]U[USLM"QM"cNUL^"!&,@@$0$."2"QL]"!0'(-#2K"c\["QRMS"QM"UL]\TUL^"!@0$$&'72+"""%ZN" TRUNL[K" SL" [ZN" S[ZNP" ZQL]K" MNNVM" [S" cN" QcRN" [S" P\L" ZU^ZRW" TSVXRN`"

SP^QLU_Q[USLQR"]NMU^L"XPSdNT[M"RUbN"[ZN"%SaL"2QRR"XPSdNT[K"aZUTZ"aQM"cQMN]"SL"[ZN"YPQVNaSPb" SY" [ZN" XQPQRRNR" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM+" 7N" VU^Z[" MQW" [ZQ[" [ZN"]UQTZPSLUT" RS^UT" PNMXSL]M" [S" T\PPNL[" [NL]NLTUNM" [ZQ[" QPN" QXXPSQTZUL^" aU[ZUL" QL]"QRMS" cN[aNNL" [ZN" YUNR]M+" #L" QL" SP^QLU_Q[USLQR" XNPMXNT[UONK" [ZN" SP^QLU_N]"XQP[UTUXQ[USL" MNNVM" [S" ULOSRON" LNa" QXXPSQTZNM" [S" SP^QLU_Q[USLQR" ]NONRSXVNL[+"=PSV"QL"QPTZU[NT[\PQR"OUNaXSUL[K"ZSaNONPK"U["]SNM"LS["MNNV"[S"NM[QcRUMZ"LNa"aQWM"SY" aSPbUL^" QL]" TSRRQcSPQ[UL^" [ZQ[" UL" PQ]UTQR" aQWM" ]UYYNPNL[UQ[NM" YPSV" [PQ]U[USL+"2NPNK"QPTZU[NT[M"VQW"aSPb"aU[Z"Q"LNa"[WXN"SY"VQ[NPUQR"laZUTZ"UL"U[MNRY"PNXPNMNL[M"]UMXRQTNVNL[Mm+" -\[" [ZNW" ]S" LS[" UL[NPQT[" TRSMNRWK" LNU[ZNP" aU[Z" [ZN" NL]" \MNP"PNXPNMNL[Q[UON"UL"[ZN"SP^QLU_N]"XQP[UTUXQ[USLK"LSP"aU[Z"[ZN"XPSTNMM"]NMU^LNPM"UL"[ZN"[PQLMRQ[USL"SY"[ZN"XPS]\TN]"VQ[NPUQR+"""n%ZN" MWLTZPSLUT" ]NMU^L" RS^UTH" QXXNQPM" [S" PNXPNMNL[" QL" ULTU[NVNL[" [S" [ZN"

]UQTZPSLUT"M[P\T[\PN+"#L"[ZN"MWLTZPSLUT"RS^UTK"[ZN"UL[N^PQ[USL"SY"[ZN"NL]"\MNP"QM"TSD]NMU^LNP" UL" Q"]NMU^L"XPSTNMM" [ZQ[" UM" TSL[UL\S\M" QL]"NVNP^UL^" MNNVM"TNL[PQR+"%ZN"]NONRSXVNL["SY" [ZN"<UbQ]S"2S\MN"XPSdNT["VU^Z["cN"MQU]" [S"ZQON"cNNL"c\UR["\XSL"QMXUPQ[USLM" PNYRNT[N]" UL" Q" MWLTZPSLUT" RS^UTK" aU[Z" [ZN" [NPV" !+8.1#0'.,12" QRMS"QT[UONRW"\MN]"cW"MSVN"SY"[ZN"XRQWNPM"ULOSRON]+"2NPNK"[ZN"U]NQ"SY"XPS]\TUL^"[ZN"cPUNY"SY"PNh\UPNVNL[M"aZURN"Q["[ZN"MQVN"[UVN"^NLNPQ[UL^"Q"]NMU^L"MSR\[USL"PNXPNMNL[N]"Q"MWLTZPSLUT" YNQ[\PNK" QM" ]U]" [ZN" Q[[NVX[M" Q[" [PQLMRQ[USL" SY" [ZN" S\[TSVN" ln[ZN"SP^QLU_Q[USLQR"ULX\[Hm"UL"TSRRQcSPQ[USL"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM+"#L"[ZUM" TSRRQcSPQ[USLK" [ZN" XPSTNMM" ]NMU^LNPM" QP^\N]" [ZQ[" [ZN" XPS]\T[USL" SY" Q" cPSQ]"VQ[NPUQR" cQMN]" SL" [ZN" XQP[UTUXQ[USL" QT[UOU[UNM" aS\R]" NLZQLTN" [ZN" SXXSP[\LU[W" [S"XPS]\TN"LNa"QPTZU[NT[\PQR"]NMU^L"TSLTNX[M+"%ZUM"LS[USL"SY" ULX\["OSR\VN1"VQ[NPUQR"[ZQ[" TQL" XS[NL[UQRRW" cN" \MN]" UL" ]UYYNPNL[" aQWM" TQL" QRMS" cN" MQU]" [S" PNXPNMNL[" [ZN"MWLTZPSLUT"]NMU^L"RS^UT+"""

9,9""

6NONPQR"SY"[ZN"TZQRRNL^NM"ULOSRON]"UL"[ZN"MWLTZPSLUT"M[P\T[\PN"aURR"LNN]"Y\P[ZNP"ULONM[U^Q[USL+"=UPM[K" [ZN"ULX\["YPSV"[ZN"NL]"\MNPM"ZSR]M"Q"YSPVQ["[ZQ["UM"\LYQVURUQP"YSP"XPSYNMMUSLQR"QPTZU[NT[M"[S"ZQL]RN+"2NPNK"[ZN"M\cM[QL[UQR"]UYYNPNLTNM"UL"RQL^\Q^N"QL]"VN[ZS]"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"PNXPNMNL["Q"TNL[PQR"TZQRRNL^N+"#L".PbU[NVQK" [ZN" TPSMM" ]UMTUXRULQPW" QMXNT[M" [ZQ[" TZQPQT[NPU_N]" [ZN" TSRRQcSPQ[USLQR"N`XNPUVNL["cN[aNNL"[ZN"[aS"^PS\XM"]U]"LS["YUL]"Q"XSUL["SY"UL[NPMNT[USLK"YPSV"aZUTZ"[ZUM" aQW" SY" aSPbUL^" TS\R]" VQ[\PN" QL]" NM[QcRUMZ" UL" [ZN" YUPV+" =PSV" M\cMNh\NL["ULYSPVQR"TSLONPMQ[USLM"#"ZQON"ZQ]"aU[Z".PbU[NVQ"QPTZU[NT[MK" #"bLSa"[ZQ["MSVN"SY"[ZN"N`XNPUVNL[M"[ZN"<UbQ]S"2S\MN"XPSdNT["PNXPNMNL[N]"]U]"XRQL["TNP[QUL"MNN]M"[ZQ["aNPN"RQ[NP"QXXRUN]"SL"Q"MVQRR"MTQRN"cW"UL]UOU]\QR"QPTZU[NT[M"QPS\L]"[ZN"YUPV+"-\["QM"QL" UL[N^PQ[N]" XQP[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPQT[UTNK" [ZN" N`XNPUNLTN" YPSV" [ZN"XPSdNT[" ]U]" LS[" YSPV" Q" LNa" [NVXRQ[NK" YPSV"aZUTZ" Y\P[ZNP" UVXRNVNL[Q[USL" SY" [ZN"VN[ZS]" TS\R]" cN" NM[QcRUMZN]+" <W" XSUL[" ZNPN" UM" XRQUL1" [ZNMN" N`XNPUVNL[M" LNN]"[NM[UL^"QL]" [PUQRUL^K" UL"SP]NP" [S"cN" [ZSPS\^ZRW"MTP\[ULU_N]+" #L" [ZUM"XNPMXNT[UONK" [ZN"<UbQ]S"2S\MN"XPSdNT["TQL"cN"MNNL"QM"Q"cPQON"Q[[NVX["[ZQ["ULOSRON]"Q"TSLMU]NPQcRN"QVS\L[" SY" N`XNPUVNL[M+" -\[" [ZN" TSVXRUTQ[USLM" [ZQ[" [ZN" XPSdNT[" PNXPNMNL[N]" VQW"QRMS" ZQON" RNY[" [ZSMNK"aZS"aNPN" MbNX[UTQR"VSPN" ]UMTPN]U[UL^K" QL]" [ZSMNK"aZS"aNPN"UL[NPNM[N]"VSPN"UL"]S\c[+""#[" UM" QRMS" LNTNMMQPW" [S" LS[N" [ZQ["aN" ]S" LS[" bLSa"V\TZ" QcS\[" ZSa" [ZNMN" LNa"

]NMU^L"U]NQM"QL]"TSLTNX[M"k"XPS]\TN]"QM"Q"PNM\R["SY"Q"TRSMNP"TSRRQcSPQ[USL"cN[aNNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"SL"[ZN"cQMUM"SY"nQL"SP^QLU_Q[USLQR" ULX\[H"k"VU^Z["aSPb+"#Y"[ZNW"PNXPNMNL["MSVN"bUL]"SY"LNaLNMM"SP"ULLSOQ[USLK"[ZUM"TZQL^N"QRMS"LNN]M"M\cM[QL[UQR" PS\L]M" SY" [NM[UL^" QL]" [PUQRUL^+" $Na" UM" LS[" LNTNMMQPURW" ^SS]K" aU[Z"PNYNPNLTN"[S"YSP"N`QVXRN"Y\LT[USLQRU[W+"-\["Q^QULK"Y\LT[USLQRU[W"]SNM"LS["STT\P"UL"Q"]QW+"#[" [QbNM" [UVN"[S"NOQR\Q[N" [ZN"h\QRU[W"QL]"XPSMXNT["SY"Q"LNa"MXQ[UQR" YNQ[\PN"SP"RQWS\[" UL" Q" aSPb" NLOUPSLVNL[+" 3`XNPUVNL[UL^" aU[Z" LNa" aQWM" SY" aSPbUL^" QL]"TSRRQcSPQ[UL^"cQMN]"SL"Q"MWLTZPSLUT"]NMU^L"RS^UT"[ZQ["ULOSRONM"Q"TRSMNP"PNRQ[USLMZUX"cN[aNNL"QPTZU[NT["QL]"XPSTNMM"]NMU^LNP"QL]"[Z\M"XS[NL[UQRRW"cN[aNNL"[ZN"QPTZU[NT["QL]"[ZN"TRUNL[K"VU^Z["XPS]\TN"LNa"QPTZU[NT[\PQR"MSR\[USLM+"-\[" [ZNPN"UM"QRaQWM"[ZN"PUMb" [ZQ[" [ZN" TRUNL[" aURR" LS[" RUbN" [ZN" MSR\[USLK" QL]" [ZQ[" [ZN" TRUNL[" MNNM" QL]" ZNQPM"MSVN[ZUL^"]UYYNPNL["YPSV"aZQ["[ZN"QPTZU[NT["l[ZS\^Z["MZN"ZQ]m"cPS\^Z["YSP[Z+"%ZNPN"UM" M\cM[QL[UQR" \LTNP[QUL[W" QL]" QVcU^\U[W" UL" [ZNMN" XPSTNMMNMK" YPSV" cS[Z" NL]M1" [ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"QRUbN+"#L"QL"SP^QLU_Q[USLQR"XNPMXNT[UONK"MXQ[UQR"QL]" Y\LT[USLQR" XPNYNPNLTNM" QPNK" [S" Q" RQP^N" N`[NL[K" cQMN]" SL" UL]UOU]\QR" [QM[N" QL]"TSL[N`[\QR" XNPTNX[USL+" %ZNW" TZQL^N" QL]" aQL]NP" QTTSP]UL^" [S" YQMZUSL" QL]"

9,C""

TSL[UL\S\M"]UMXRQTNVNL[M+".RMSK" [ZN"QPTZU[NT[HM" QXXPSQTZ" [S" [ZN"]NMU^L"XPSTNMM" UM"SY[NL"ZU^ZRW"UL]UOU]\QR+"2NPNK"MSVN"YNQ[\PNM"TQL"STTQMUSLQRRW"cN"[PQTN]"cQTb"[S"QL"N]\TQ[USLQR" ULM[U[\[USLK" ^NLNPQ[USLK" YUPVK" TSL[NVXSPQPW" YQMZUSL" SP" S[ZNP" k" c\[" U["MNNVM"cQMUTQRRW"ZQP]"[S"^NLNPQRU_N"QPTZU[NT[\PQR"aQWM"SY"aSPbUL^+"*SRRQcSPQ[USLQR"N`XNPUVNL[M" SY" MWLTZPSLUTK" TSLT\PPNL[" QL]" TSL[UL\S\M" ]NMU^L" XPSTNMMNM" MNNV" [S"PNh\UPN"Q"MNLMUcURU[W"UL"[ZN"N`TZQL^N"[ZQ["QPTZU[NT[M"]S"LS["MNNV"[S"TSVXPUMN"QM"WN[+"%ZNW"SY[NL"ZSR]"[ZUM"MNLMUcURU[W"aU[Z"PN^QP]M"[S"VQ[NPUQRMK"RU^Z[UL^K"RULNMK"XQMMQ^NMK"MXQ[UQR" TSZNMUSL"QL]"VQLW"S[ZNP" [ZUL^M+"-\[" [ZN" [WXN"SY" ULX\[" QL]"TSRRQcSPQ[USLM"UL]UTQ[N]"ZNPNK"^S"cNWSL]"[ZNUP"cQMUT"TSVXN[NLTUNM+"""-QMN]"SL"MSVN"SY"[ZN"YNQ[\PNM"[ZQ["MNNV"[S"PNXPNMNL["[ZNMN"[aS"]NMU^L"RS^UTMK"U["

MNNVM" [ZQ[" [ZN" UMM\N" SY" XPS`UVU[W" LNN]M" N`[NL]N]" ULh\UPW+" #Y" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL" ZSR]M" [ZN" QcURU[W" [S" XPS]\TN" nTSLLNT[USLMH" [ZQ[" Q]]PNMM" [ZN"]NONRSXVNL[" SY" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^LK" aN" LNN]" [S" RSSb"MXNTUYUTQRRW" UL[S" [ZN" [PQLMU[USL"SP" UL[NPMNT[USL"cN[aNNL" [ZN"XRQWNPM+"2NPNK" Q" TRSMNP"TSRRQcSPQ[USL"VU^Z[K" UL" YQT[K" QRMS" UL]UTQ[N" [ZN" LNN]" YSP" Q" M[PSL^NP" MNXQPQ[USL+"-W"NL^Q^UL^"VSPN"TRSMNRW"aU[Z"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"QL]"[ZN"ULU[UQR"[PQLMRQ[USL"SY"[ZN" XPS]\TN]" VQ[NPUQRK" [ZN" QPTZU[NT[" VU^Z[" QRMS" ^QUL" Q" cPSQ]NP" MXQL" SY" ]NMU^L"SXXSP[\LU[UNM+" #L" M\TZ" Q"XPSTNMM"SY" [PQLMRQ[USLI]NMU^LK" [ZN" QPTZU[NT[\PQR" [SSRMK" QL]"QRMS"[ZN"QPTZU[NT[HM"ZU^ZRW"UL]UOU]\QRU_N]"aQWM"SY"]SUL^"[ZUL^MK"M[URR"YSPV"[ZN"XSUL["SY"]NXQP[\PN+"-\["cW"NL^Q^UL^"TRSMNP"aU[Z"[ZN"NL]"\MNPM"QL]"[ZN"XPS]\T[USL"SY"n[ZN"SP^QLU_Q[USLQR" ULX\[HK" [ZN" QPTZU[NT[" VQW" NM[QcRUMZ" LNa" MS\PTNMK" YPSV" aZUTZ"QPTZU[NT[\PQR"TSLTNX[M"TQL"NVNP^N+"%ZUM"TQRRM"YSP"QLS[ZNP"MNXQPQ[USL"k"[ZQ["cN[aNNL"[ZN"QPTZU[NT["QL]"[ZN"TSLTNX[\QR"U]NQ+"=SP"[ZN"QPTZU[NT["[S"cN"QcRN"[S"^N["UL[S"Q"TRSMNP"TSRRQcSPQ[USL" aU[Z" [ZN" \MNPK" M\TZ" XPS`UVU[W" VU^Z[" QRMS" UL]UTQ[N" [ZQ[" Q" TPU[UTQR"]UM[QLTN"[S"[ZN"XPSdNT["UM"LNTNMMQPW+"%ZN"NM[QcRUMZVNL["SY"M\TZ"Q"]UM[QLTN"VU^Z["cN"ZQP]"YSP"QPTZU[NT[MK"QM"YSP"VQLW"S[ZNP"XPSYNMMUSLQRMK"aZS"aSPb"aU[Z"PNQRU_Q[USLM"SY"TSLTNX[\QR"U]NQM+".M"U["ZQM"cNNL"XSUL[N]"S\["SL"MNONPQR"STTQMUSLM"QcSONK"[PQLMRQ[USL"]SNM"LS["VNQL"[PQLMYNPNLTNK"c\["PQ[ZNP"PNXPNMNL[M"Q"VNN[UL^"SP"QL"UL[NPMNT[USL+".L"ULTPNQMN]" TQXQTU[W" [S" ZQL]RN" M\TZ" QL" UL[NPMNT[USL" TS\R]" XS[NL[UQRRW" PNXPNMNL[" Q"PNMS\PTN" YSP" [ZN"TSL[NVXSPQPW"QPTZU[NT[+"-\[" U[" M[URR" PNh\UPNM"N`[NL]N]"QP[UT\RQ[USL"TQXQcURU[UNM+" #[" MNNVM" Q" TNL[PQR" TZQRRNL^N" YSP" [ZN" QPTZU[NT[" [S" ULTPNQMN" [ZN" ONPcQR"NYYSP[" QM" Q" VNQLM" [S" M[PNL^[ZNL" [ZN" SXXSP[\LU[W" YSP" [ZNUP" N`XNP[UMN" [S" TSVN" UL[S"XRQW+"""

9,;""

*&$(+*#03%&")&!2*#0%&%=%#$4&$2*$&8*6&*))%!$&."$2&,%4+0#&'("!%44%4&

#"TSLMU]NP" [ZUM" [ZNMUM" [S"YSPV"Q"XPSOUMUSLQR"S\[RULNK" UL"aZUTZ"[ZN"XS[NL[UQR" RULb"cN[aNNL" SP^QLU_Q[USLQR" QL]" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNM" ZQM" cNNL" ]UMT\MMN]K"URR\M[PQ[N]" QL]" N`XRSPN]+" 5SSbUL^" cQTb" SL" MSVN" SY" [ZN" ]UMT\MMUSLM" YPSV" [ZN"XPNOUS\M"TZQX[NPMK"#"aURR"TRSMN"[ZUM"NYYSP["cW"PNXNQ[UL^"[ZPNN"QMXNT[M"[ZQ["#"MNNK"LS["SLRW" QM" MU^LUYUTQL[K" c\[" QRMS" QM" XS[NL[UQRRW" UL[NP[aULN]K" QM" UL" Q" [PUQL^RN+" %ZN" YUPM["QMXNT[" UM" [ZN" TZQRRNL^NM" [ZQ[" [ZN" cPUNY" SY" PNh\UPNVNL[M" UL" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMNM" T\PPNL[RW" MNNV" [S" cN" M\cdNT[N]" [S+"%ZN" MNTSL]K"aZUTZ" QRMS" PN^QP]M" [ZN"cPUNYK" UM" [ZN" ]\QRU[W" cN[aNNL" [ZN" ULX\[" QM" ZQOUL^" QL" ULYSPVQ[USLQR" QL]ISP" QL"ULMXUPQ[USLQR" TZQPQT[NP+" =ULQRRWK" [ZN" [ZUP]" QMXNT[" UM" [ZN" [aS" ]NMU^L" RS^UTMK"XPSOUMUSLQRRW" S\[RULN]" QcSON" QM" MWLTZPSLUT" QL]ISP" ]UQTZPSLUT" QXXPSQTZNM" [S" [ZN"]NMU^L"XPSTNMM+"""*SLTNPLUL^"[ZN"YUPM["QMXNT["SY"[ZUM"[PUQL^RNK"QL]"QM"ZQM"cNNL"]NMTPUcN]"SL"MNONPQR"

STTQMUSLM" UL" [ZN" [ZNMUMK" [ZN" cPUNY" SY" PNh\UPNVNL[M" UM" Q" ]ST\VNL[" [ZQ[" ZQM"[PQ]U[USLQRRW"XRQWN]"QL"UVXSP[QL["PSRN"UL"QPTZU[NT[\PQR"]NMU^LUL^"lTY+"]UQ^PQV"!m+"#["ZQM" MNPON]" QM" Q" TNL[PQR" XSUL[" SY" ]NXQP[\PN" [S" RQ\LTZ" QL]" ^\U]N" [ZN" QPTZU[NT[\PQR"]NMU^L"XPSTNMMK"QL]"QRMS"QM"Q" RULb"cN[aNNL" [ZN"TRUNL["QL]" [ZN"QPTZU[NT[+".M"#"ZQON"URR\M[PQ[N]"QL]"]UMT\MMN]" UL" [ZN"XPNOUS\M"TZQX[NPMK" [ZN"cPUNY"T\PPNL[RW"MNNVM" [S"cN"^SUL^" [ZPS\^Z" M\cM[QL[UQR" TZQL^NM+" #L" [ZN" %SaL" 2QRR" XPSdNT[K" [ZN" cPUNY" aQM"TSLMU]NPN]" QM" !&,@@$0$."2" UL" [ZN" MNLMN" [ZQ[" U[" aQM" aPU[[NL" QY[NP" [ZN" SP^QLU_N]"XQP[UTUXQ[USL" QT[UOU[UNM" aNPN" RQ\LTZN]+" $S[" SLRW" ]U]" [ZN" cPUNY" QM" M\TZ" TSLMUM[" SY"\LYQVURUQP"NRNVNL[M"[ZQ["aNPN"cQMN]"SL"[ZN"S\[TSVN"SY"[ZN"XQP[UTUXQ[USL"QT[UOU[UNM"ln[ZN" SP^QLU_Q[USLQR" ULX\[HmK" XPS]\TN]" cW" [ZN" M\cM[QL[UQR" ^PS\X" SY" NL]" \MNP"PNXPNMNL[Q[UONM" l[ZN" nTSVXS\L]" cS]W" SY" \MNPMHm+" .RMSK" [ZNMN" NRNVNL[M" XRQWN]" Q"TNL[PQR" XQP[" UL" [ZN" QMMNMMVNL["SY" [ZN" ]NMU^L"XPSXSMQRM" [ZQ["aNPN"XPS]\TN]"cW" [ZN"QPTZU[NT[M" UL" [ZN"TS\PMN"SY" [ZN"QPTZU[NT[\PQR"TSVXN[U[USL+"2NPNK"n[ZN"SP^QLU_Q[USLQR"ULX\[H"MNNVN]"[S"cN"\MN]"QM"QMMNMMVNL["TPU[NPUSL+""#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"cPUNY"SY"PNh\UPNVNL[M"QRMS"XRQWN]"QL"UVXSP[QL["

PSRN" UL" [ZN" XPSdNT[" S\[RULNK" c\[" UL" Q" M\cM[QL[UQRRW" ]UYYNPNL[" aQW" [S" Q" [PQ]U[USLQR"XPSdNT[+"#L"[ZUM"XPSTNMMK"[ZN"[PQ]U[USLQR"cPUNY"aQM"[NL[Q[UONRW"]UMMSRON]"UL"QL"Q[[NVX["Q[" UL[N^PQ[UL^" [ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMM" UL[S" [ZN" XPSTNMM" SY" ]NMU^LUL^"

9,F""

QPTZU[NT[\PN+"%ZN" TSLTNX[" ZQ]" M\cM[QL[UQR" TSLMNh\NLTNMK" ULTR\]UL^" [ZN"]UYYUT\R[UNM"UL" TSRRQcSPQ[USL" cN[aNNL" QPTZU[NT[M" QL]" XPSTNMM" ]NMU^LNPMK" aZUTZ" PNXPNMNL[N]" Q"TNL[PQR"XQP[" SY" [ZN"XPSdNT[HM"^NLNPQR"LSONR[W+".RMSK" [ZN"]NMTPUX[USL"SY" [ZN"cPUNY" QM"cNUL^" QcMNL[" ]U]LH[" PNQRRW" PNYRNT[" [ZN" XPSdNT[HM" QT[\QR" TSL]U[USLM" QM" [ZNWK" UL" YQT[K"QXXNQPN]+"%ZN"<UbQ]S"2S\MN" XPSdNT[" ZNR]" Q" TSLMU]NPQcRN" QVS\L[" SY" ULYSPVQ[USL"[ZQ[K"UL"Q"[PQ]U[USLQR"XPSdNT[K"aS\R]"ZQON"cNNL"TZQPQT[NPU_N]"QM"Q"XQP["SY"[ZN"cPUNY+"2NPNK" aN" MZS\R]" PNTQRR" [ZN" XSUL[" [ZQ[" M[SPW" VQ[[NPM+" %ZN" aQW" [ZQ[" YNQ[\PNM" QL]"TSL]U[USLM"QPN"XPNMNL[N]"UL"SP^QLU_Q[USLQR"RUYN"ZQM"M\cM[QL[UQR"TSLMNh\NLTNM"[S"ZSa"[ZNW"QPN"XNPTNUON]+"%ZNMN"[aS"NVXUPUTQR"M[SPUNMK"UL"aZUTZ"[ZN"cPUNY"SY"PNh\UPNVNL[M"aQM" ^UONL" Q" LNa" PSRN" [ZQ[" ]UPNT[RW" UL[N^PQ[N]" SP^QLU_Q[USLQR" YQT[SPMK" PNXPNMNL[" Q"MZUY["aU[Z"PNYNPNLTN"[S"TSLONL[USLQR"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNM+"""%\PLUL^" [S" [ZN" MNTSL]"QMXNT["SY" [ZN" [PUQL^RNK" QL]" [S" [ZN"cPUNY" QM" TSLMUM[UL^"SY"

nXUNTNM"SY" ULYSPVQ[USLH"QM"aNRR"QM"nXUNTNM"SY" ULMXUPQ[USLHK"aN"VU^Z["MQW"[ZQ[" [ZNMN"[WXNM"SY" ULX\[" PNXPNMNL[" [ZN"cPUNY" UL" U[M"TSLONL[USLQR"QM"aNRR"QM" UL" U[M"LSONR" YSPV+"2NPNK" [ZN" nULYSPVQ[USLQR" XUNTNMH" TZQPQT[NPU_N" [ZN" [PQ]U[USLQR" cPUNY" QM" Q" XSUL[" SY"]NXQP[\PN" [S" RQ\LTZ"QL]"^\U]N" [ZN"]NMU^L"XPSTNMMK"aZURN" [ZN"nULMXUPQ[USLQR"XUNTNMH"QRMS"PNXPNMNL["QMXNT[M"[ZQ["VU^Z["NVNP^NK"cQMN]"SL"[ZN"UL[NPMNT[USLM"[ZQ["[QbN"XRQTN+""%ZN"nULMXUPQ[USLQR"XUNTNMH"VU^Z["cN"MQU]"[S"TSPPNMXSL]"aU[Z"[ZN"U]NQ"SY"UL[N^PQ[UL^"[ZN"TRUNL["SP^QLU_Q[USL"TRSMNP"UL[S"[ZN"QPTZU[NT[\PQR"]NMU^L"XPSTNMM"k"[S"XPS]\TN"nQL"SP^QLU_Q[USLQR"ULX\[H+"%ZUM"U]NQ"aQMK"UL"]UYYNPNL["aQWMK"N`XRSPN]"QL]"[NM[N]"UL"cS[Z"TQMN"SP^QLU_Q[USLM+"""#L"[ZUM"XNPMXNT[UONK"aN"MZS\R]"QRMS"PNTQRR"[ZN"LS[USL"SY"[QRb"QL]"TSLONPMQ[USL"QM"

Q" TSLM[U[\[USLQR" YQT[SP" UL" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USLK" QL]" QRMS" UL" NYYSP[M" SY"TSRRQcSPQ[USL"QL]"TSVV\LUTQ[USL"QTPSMM"]UMTUXRULNM"QL]"YUNR]M+"7ZNL"aN"\MN"[QRb"QM" SXXSP[\LU[UNM" [S" TPNQ[N" RULbMK" aN" N`TZQL^N" XNPMXNT[UONM" QL]" Q]]" SL" [S" NQTZ"S[ZNPMH"M[SPUNM"QL]"[ZNPNcW"c\UR]"LNa"M[SPUNM+"%ZUM"UM"aZQ["ZQXXNLM"aZNL"NL]"\MNPM"QPN"ULOU[N]"[S"[QRb"QcS\["MXQ[UQR"VQ[[NPMK"UL"TSLONPMQ[USLM"[ZQ["QPN"MN["UL"QL"\L\M\QR"YPQVNaSPb+"6\TZ"Q"]UYYNPNL["TSLONPMQ[USLQR"XNPMXNT[UON"VQW" RNQ]" [S"LNa"aQWM" [S"TSVV\LUTQ[USL"SP"LNa"aQWM"SY"aSPbUL^+".M"XSUL[N]"S\["QcSONK"aN"]SLH["bLSa"UY"[ZNMN" LNa"aQWM" aURR" aSPbK" c\[" [ZNW" VU^Z[" cN" PNRNOQL[" [S" N`XRSPN+" %ZUM" UM" aZQ["ZQXXNLM"aZNL"QPTZU[NT[M"QL]"XPSTNMM"]NMU^LNPM"VNN["UL"Q"V\[\QR"NYYSP["[S"MN["YSP[Z"Q" ]NMU^L" XPSTNMM" [ZQ[" UM" cQMN]" SL" QL" ULX\[K" [S"aZUTZ" [ZN" QPTZU[NT[M" QPN" ^NLNPQRRW"\LQTT\M[SVN]+"2NPNK"[ZN"LNa"[WXN"SY"ULX\["PNh\UPNM"lQL]"ULMXUPNM"[Sm"LNa"aQWM"SY"[QRbUL^"QcS\["k"QL]"\L]NP[QbUL^"k"[ZN"]NMU^L"XPSTNMM+"

9,B""

".M"YSP"[ZN"[ZUP]"QL]"YULQR"QMXNT["SY"[ZN"[PUQL^RNK"[ZNMN"ULMXUPQ[USLQR"XUNTNM"aNPNK"

UL"[ZN"%SaL"2QRR"XPSdNT[K"cPS\^Z["UL[S"[ZN"]NMU^L"XPSTNMM"QM"Q"LNa"YNQ[\PN"SY"[ZN"[PQ]U[USLQR"cPUNY"SY"PNh\UPNVNL[M+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"[ZN"[PQ]U[USLQR"cPUNY"aQM"PNVSON]"UL"SP]NP"[S"^UON"aQW"[S"LNa"QXXPSQTZNM"[S"[ZN"XPSTNMM"SY"]NMU^LUL^"QPTZU[NT[\PN+"%ZN"%SaL"2QRR"XPSdNT["PNXPNMNL[N]"Q"XPSdNT["M[P\T[\PN"[ZQ["VQUL[QULN]"Q"L\VcNP"SY"[ZN"TSLONL[USLQR"P\RNM"QL]"PN^\RQ[USLM"[ZQ["QPN"bLSaL"UL"QPTZU[NT[\PQR"]NMU^L"XPSTNMMNMK"UL"aZUTZ"[ZN"[PQ]U[USLQR"cPUNY"SY"PNh\UPNVNL[M"XRQWM"Q"TNL[PQR"PSRN+"%ZUM"VU^Z[" cN" TZQPQT[NPU_N]" QM" Q" ]UQTZPSLUT" ]NMU^L" RS^UTK" UL" aZUTZ" Q" MNh\NL[UQR"M[P\T[\PN"M[NNPM"[ZN"NVNP^NLTN"SY"Q"]NMU^L"MSR\[USL+"#L"[ZN"<UbQ]S"2S\MN"XPSdNT[K"SL"[ZN"S[ZNP"ZQL]K"[ZN"cPUNY"SY"PNh\UPNVNL[M"QL]"[ZN"QPTZU[NT[\PQR"]NMU^L"MSR\[USLM"aNPN"M\XXSMN]"[S"NVNP^N"UL"Q"TSLT\PPNL["XPSTNMM+"2NPNK"[ZN"XPSdNT["M[P\T[\PN"aQM"TZQPQT[NPU_N]"QM"MWLTZPSLUT" PQ[ZNP" [ZQL" MNh\NL[UQRK"QL]"Q"L\VcNP"SY"LNa"YNQ[\PNM"aNPN"UL[PS]\TN]"[S"TSLM[U[\[N"[ZN"]NMU^L"XPSTNMM+"%ZUM"M[P\T[\PN"QL]"MNONPQR"SY"[ZN"YNQ[\PNM" U[" PNXPNMNL[N]" PQ]UTQRRW"]UONP^N]" YPSV" [ZN" [PQ]U[USLQR"QPTZU[NT[\PQR"]NMU^L"XPSTNMM+" -\[" QM" U[" aQM" URR\M[PQ[N]" UL" *ZQX[NP" BK" [ZN" <UbQ]S" 2S\MN" XPSdNT["TSVXPUMN]" MNONPN" TZQRRNL^NM" [ZQ[" SY[NL" RNY[" [ZN" XRQWNPM" ULOSRON]" UL" [ZN" XPSTNMM"TSLY\MN]+"""

!3"4+#0&!"88%#$4&

-QMN]"\XSL"MSVN"SY"[ZN"YUL]UL^M"UL"[ZN"M[\]WK"U["MNNVM"TSLTNUOQcRN"[ZQ["[ZN"[aS"]NMU^L" XPSTNMMNM" TQL" NOSRON" TSLT\PPNL[RW" QL]" [ZQ[" OQPUS\M" nTSLLNT[USLMH" QPN"^NLNPQ[N]"cW"QL"ULTPNQMN]"RNONR"SY"XPS`UVU[W+"-\["[ZN"ULTPNQMN]"XPS`UVU[W"QL]"[ZN"XPSXSMN]"nTSLLNT[USLMH"URR\M[PQ[N]"QL]"]UMT\MMN]"UL"[ZN"[ZNMUM"QRMS"UVXRW"MU^LUYUTQL["TZQRRNL^NM" [S" cS[Z" ]NMU^L" YUNR]M+" 2NPNK" [ZN" nTSLLNT[USLMH" LNTNMMQPURW" N`UM[" UL" Q"[NLMUSL" cN[aNNL" cNUL^" XNPTNUON]" QM" PNMS\PTNM" QL]ISP" QM" PNM[PUT[USLM+" .M" #" ZQON"XPSOUMUSLQRRW"]NMTPUcN]"UL"[ZN"XQPQ^PQXZM"QcSONK"[ZN"[aS"XPSTNMMNM"VU^Z["XPSOU]N"V\[\QR" PNMS\PTNMK" UL"aZUTZ" [ZN" SLN" PNXPNMNL[M" ]NONRSXVNL[" SXXSP[\LU[UNM" YSP" [ZN"S[ZNP+" 'L" [ZN" S[ZNP" ZQL]K" aN" VU^Z[" QRMS" MQW" [ZQ[" [ZNMN" XPSTNMMNM" V\[\QRRW"\L]NPVULN"QL]"]UMP\X["NQTZ"QLS[ZNP+"2NPNK"UMM\NM"RUbN"]UONP^NLTN"UL"VN[ZS]SRS^W"ZQON" cNNL" ]UMT\MMN]" [S" ]NMTPUcN" ZSa" [ZN" [aS" ]NMU^L" XPSTNMMNM" QPN" LS[" QL" NQMW"VQ[TZ+" #L" SP]NP" YSP" [ZN" RULb" [S" cNTSVN" [ZSPS\^ZRW" N`XRSPN]K" Y\P[ZNP" N`XNPUVNL[M"

9,?""

aU[ZUL"[ZN"XPQT[UTN"YUNR]M"QL]"NVXUPUTQR"PNMNQPTZ"[S"UL[NPPS^Q[N"[ZNMN"SXXSP[\LU[UNMK"MNNV"LNTNMMQPW+"#Y"NL]"\MNP"XQP[UTUXQ[USL"ZSR]M"[ZN"XS[NL[UQR"SY"TPNQ[UL^"PNMS\PTNMK"]UMP\X[USLM"QL]"]NM[P\T[USL"UL"XPSTNMMNM"SY"SP^QLU_Q[USLQR"QL]"QPTZU[NT[\PQR"]NMU^LK"VSPN" NYYSP[" MZS\R]" cN" X\[" UL[S" \L]NPM[QL]UL^" [ZN" TSL]U[USLM" QL]" YQT[SPM" [ZQ["]N[NPVULN" UY" [ZN" NYYNT[" UM" SLN"SP" [ZN"S[ZNPK" U+N+" Y\LT[USLQR" SP"]WMY\LT[USLQR1"7ZQ["]N[NPVULNM" UY" [ZN" QPTZU[NT[M" aURR" PNTNUON" [ZN" NL]" \MNP" ULX\[M" QM" ]NVQL]M" SP" QM"ULMXUPQ[USLMo" .L]" QRMS1" 7ZQ[" ]N[NPVULNM" UY" [ZN" NL]" \MNPM" aURR" PNTS^LU_N" [ZNUP"YSS[XPUL[" SL" [ZN" QPTZU[NT[\PQR" ]NMU^LK" NONL" UY" [ZNW" TQLLS[" YUL]" [ZNUP" MXNTUYUT"]NVQL]M"QL]"MSR\[USLMo""#L"QL"SP^QLU_Q[USLQR"XNPMXNT[UONK"SP^QLU_N]"XQP[UTUXQ[USL"UL"QPTZU[NT[\PQR"]NMU^L"

XPSTNMMNM" VU^Z[" TSL[PUc\[N" QM" Q" ONZUTRN" [S" NLZQLTN" [ZN" ]NONRSXVNL[" SY"SP^QLU_Q[USLQR" ]NMU^L+" $S[" LNTNMMQPURW" YSP" U[M" QPTZU[NT[\PQR" ]NMU^L" h\QRU[UNMK" c\["VSPN" MS" YSP" U[M" h\QRU[W" SY" PNXPNMNL[UL^" Q"VQ[NPUQR" M\cdNT["VQ[[NPK" [ZPS\^Z"aZUTZ"M[SPUNM"TQL"NM[QcRUMZ"QL]"]NONRSX+" #L" [ZUM"aQW"MXQTN"QL]"MXQ[UQR"VQ[[NPM"VU^Z["cN"XNPTNUON]" QM" Q" LQPPQ[UON" PNMS\PTN" [ZQ[" TQL" M\XXSP[" [ZN" SP^QLU_Q[USLHM" QcURU[W" [S"TSL[QUL" QL]" LQOU^Q[N" [ZNUP" SaL" XPQT[UTN+" #L" QL" QPTZU[NT[\PQR" XNPMXNT[UONK" n[ZN"SP^QLU_Q[USLQR" ULX\[H" XPS]\TN]" cW" [ZN" TRUNL[" QM" Q" nTSVXS\L]" cS]W" SY" \MNPMH" UL"XPSTNMMNM" SY" SP^QLU_N]"XQP[UTUXQ[USL" TQL" TSL[PUc\[N" QM" QL" SXXSP[\LU[W" [S" PN^QUL" Q"TRSMNP"PNRQ[USLMZUX"aU[Z"[ZN"TRUNL[+"%ZN"ULX\["VU^Z["cN"XNPTNUON]"QM"nULYSPVQ[USLQRH"QL]"nULMXUPQ[USLQRHK"PNMXNT[UONRWK"UL"aZUTZ"[ZN"RQ[[NP"VU^Z["XPSOU]N"TNP[QUL"PNMS\PTNM"[S"TSL[NVXSPQPW"QPTZU[NT[\PQR"XPQT[UTN+"""%S" \LYSR]" [ZUM" XS[NL[UQRK" ZSaNONPK" U[" PNh\UPNM" [ZQ[" LNa" TSVXN[NLTUNM" QPN"

NM[QcRUMZN]K" UL" SP]NP" [S" QTTSVVS]Q[N" [ZNMN" LNa" VN[ZS]SRS^UTQR" QL]"TSRRQcSPQ[USLQR" Q[[NVX[M+" %ZN" nTSLLNT[USLMH" [ZQ[" [ZN" SP^QLU_N]" XQP[UTUXQ[USL"QT[UOU[UNM" MNNV" [S" NM[QcRUMZ" VU^Z[" [Z\M" PNXPNMNL[" SXXSP[\LU[UNM" YSP" cS[Z" ]NMU^L"XPSTNMMNM"QL]"cS[Z"]NMU^LM+"$S["QM"cR\NXPUL[M"YSP"]NMU^LM"c\["PQ[ZNP"QM"PNTUXNM"QL]"MU[\Q[N]" SXXSP[\LU[UNM" YSP" LQOU^Q[USL+" %ZN" N`[NL[" [S" aZUTZ" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL" TQL" TSL[PUc\[N" [S" YSPV" LNa" QPTZU[NT[\PN" QL]" LNa" SP^QLU_Q[USLM"PNVQULM" [S" cN" MNNL" UL" Y\[\PN" XPSdNT[M+" %ZN" ULX\[" U[" XPS]\TNM" UM" TSVXRN`" QL]"nXNPMSLQRHK" UL" [ZN"MNLMN" [ZQ[" U[" UM"SY[NL"cQMN]"SL"TS^LU[UON"QL]"NVS[USLQR"TPU[NPUQ+"7ZNL" XNSXRN" [QRbK" [ZNW" ^N[" TQPPUN]" QaQW+" %ZNW" QMMSTUQ[N" QL]" SY[NL" M[QP[" [QRbUL^"QcS\[" Q" RS[" SY" S[ZNP" [ZUL^M+" %ZN" TRUNL[" QM" Q" nTSVXS\L]" cS]W" SY" \MNPMH" ]SNM" LS["PNXPNMNL[" Q" PNRUQcRN" ]NMU^LNP" UL" [ZN" [PQ]U[USLQR" MNLMN+" %ZNUP" ULX\[" V\M[" [Z\M" cN"[PNQ[N]"QM"ULMXUPQ[USLK"LS["QM"PNh\UPNVNL[M"SL"Q"!1!"MTQRN+"" "

9,,""

('Y'('-"'2!

.ccS[[K".+"l!A,?m1"%ZN"6WM[NV"SY"4PSYNMMUSLMK"%ZN")LUONPMU[W"SY"*ZUTQ^S"4PNMM"".bPUTZK"<+" l!AA?m1" %ZN"(ND6TPUX[USL" SY" %NTZLUTQR" 'cdNT[MK" UL" -UdbNPK"7+3+" QL]"5QaK" J+" lN]M+m1" 6ZQXUL^" %NTZLSRS^WI-\UR]UL^" 6STUN[W1" 6[\]UNM" UL" 6STUS[NTZLUTQR"*ZQL^N"".RN`QL]NPK"*+"l!A?Am1"%ZN"%UVNRNMM"7QW"SY"-\UR]UL^K"'`YSP]")LUONPMU[W"4PNMM"".RN`QL]NPK"*+"l!A,!m1"."4Q[[NPL"5QL^\Q^NK"'`YSP]")LUONPMU[W"4PNMM"".VZedK"*+" l9EE;m1"<N]QPcNd]NPNLM" MWLRU^^ePNRMN" U" ]NL" [PQLMXQPNL[N"SP^QLUMQ[USLK"UL"4N]NPMNLK"(+"lN]m1"'YYNL[RU^"RN]NRMN"U"<QLQ^NVNL[M[Q[NLK"6QVY\L]MRU[[NPQ[\P"".L]NPMNLK" 0+" l9EEBm1" <NLLNMbNPK" RN]NRMN" S^" P\VK" UL" *#$.&/" Mi[[NP" YSb\M1"-P\^NPUL]]PQ^NRMNK" *NL[NP" YSP" #L]\M[PUNR" .PbU[Nb[\PK" /\LM[QbQ]NVUN[M".PbU[Nb[MbSRN"".L]NPMSLK" &+" l!AA;m1" &NXPNMNL[Q[USLM" QL]" &Nh\UPNVNL[M1" %ZN" GQR\N" SY"3[ZLS^PQXZW" UL" 6WM[NV" (NMU^LK" UL" 2\VQLD*SVX\[NP" #L[NPQT[USLK" A1" !F!D!,9K"5QaPNLTN"3PRcQ\V".MMSTUQ[USL"4\cRUMZNPM"".[bULMSLK" 4+K" *SYYNWK" .+K" (NRQVSL[K" 6+K" 5SYRQL]K" J+" QL]" 5SYRQL]K" 5+" l9EE!m1"3]U[SPUQR" #L[PS]\T[USLK" UL".[bULMSLK"4+K"*SYYNWK".+K"(NRQVSL[K"6+K"5SYRQL]K" J+" QL]"5SYRQL]K"5+"lN]M+m1"2QL]cSSb"SY"3[ZLS^PQXZWK"6Q^N"".[bULMSLK" 4+" QL]" *SYYNWK" .+" l9EE;m1" .LQRWMUL^" ]ST\VNL[QPW" PNQRU[UNMK" UL"6URONPVQLK"(+"lN]+m1":\QRU[Q[UON"&NMNQPTZ+"%ZNSPWK"<N[ZS]"QL]"4PQT[UTNK"6Q^N""

9,A""

-NTbNPK" =+" l!A,!m1"7SPbMXQTN1"*PNQ[UL^"3LOUPSLVNL[M" UL"'P^QLU_Q[USLMK" 4PQN^NP"4\cRUMZNPM""-NTbNPK"=+"QL]"6[NNRNK"=+"l!AAFm1"7SPbXRQTN"cW"(NMU^LK"JSMMNWD-QMM"4\cRUMZNPM""-NUVK" .+" QL]" GUcib" JNLMNLK" /+" l9EEFm1" 6[PQ[N^UNM" YSP" OQR\N" UL" [ZN" XPSTNMM" SY"UL]\M[PUQRUMN]" QPTZU[NT[\PQR" ]NMU^LK" 4PSTNN]UL^M" SY" [ZN" *#-" 7'AB" QPTZU[NT[\PQR"VQLQ^NVNL[1" ]NMU^LUL^" OQR\NK" LNa" ]UPNT[USLM" UL" QPTZU[NT[\PQR" VQLQ^NVNL[K" %ZN"(QLUMZ")LUONPMU[W"SY"%NTZLSRS^W"$SONVcNP"9D;"9EEF""-NUVK".+" QL]"<SMMULK"$+" l9EE;m1"(NMU^LXPSTNM" S^" cP\^NPbPQOK" #L]QPcNd]LUL^" QY"cP\^NPbPQO" U" QPbU[Nb[SLUMbN" S^" XPS]\b[SPUNL[NPN]N" ]NMU^LXPSTNMMNPK" 6[Q[NLM"-W^^NYSPMbLUL^MULM[U[\[""-NRSOQK" '+K" /UL^K" #+" QL]" 6RUaQK" <+" l9EE,m1" #L[PS]\T[USL1" 4SRWXZSLW" QL]"'P^QLU_Q[USL" 6[\]UNM1" <UbZQUR" -QbZ[UL" QL]" -NWSL]K" UL" 'P^QLU_Q[USL" 6[\]UNM" 9A"lE;m1";ACDFEE""-NRRK" 4+K" 0PNNLNK" %+K" =UMZNPK" J+" QL]" -Q\VK" .+" l9EEFm1" %ZN" XPSTNMM" SY" ]NMU^L1"YSM[NPUL^" TSVV\LUTQ[USLK" UL1" 3LOUPSLVNL[QR" 4MWTZSRS^WK" 2QP[TS\P[" *SRRN^N"4\cRUMZNPM""-NP^NPK" 4+" QL]" 5\TbVQLLK" %+" l!AB?m1" %ZN" 6STUQR" *SLM[P\T[USL" SY" &NQRU[W1" ."%PNQ[UMN"UL"[ZN"6STUSRS^W"SY"/LSaRN]^NK".LTZSP""-dNPP\VK" 3+" QL]" -e]bNPK" 6+" l9EECm1" /LSaRN]^N" MZQPUL^" UL" [ZN" xLNa" SYYUTNx" D"XSMMUcURU[W" SP" XPScRNVoK" UL" (S\PUMZK" 4+" QL]" 6TZVU][K" /+" lN]M+m" 3*6*7" 9EEC1"4PSTNN]UL^M" SY" [ZN" 3U^Z[Z" 3\PSXNQL" *SLYNPNLTN" SL" *SVX\[NP" 6\XXSP[N]"*SSXNPQ[UON"7SPbK"/R\aNP".TQ]NVUT"4\cRUMZNPMK"$N[ZNPRQL]M""-R\VNPK" 2+" l!ABAm1" %ZN" VN[ZS]SRS^UTQR" XSMU[USL" SY" MWVcSRUT" UL[NPQT[USLUMVK" UL"6WVcSRUT"#L[NPQT[USLUMVK"3L^RNaSS]"*RUYYMK"$J1"4PNL[UTND2QRR""-RSVcNP^K"J+"l!AACm1"3[ZLS^PQXZUT"=UNR]"<N[ZS]M"QL]"[ZNUP"&NRQ[USLM"[S"(NMU^LK"UL"6TZ\RNPK" (+" QL]" $QVUSbQK" .+" lN]M+m1" 4QP[UTUXQ[SPW" (NMU^L" k" 4PULTUXRNM" QL]"4PQT[UTNMK"5QaPNLTN"3PRcQ\V".MMSTUQ[USL"4\cRUMZNPM"

9AE""

"-SRQL]K" &+" QL]" *SRRSXWK" =+" lN]M+m" l9EE;m1" <QLQ^UL^" QM" (NMU^LUL^K" 6[QLYSP]")LUONPMU[W"4PNMM"""-SP\VK" =+" QL]" &NYY" 4N]NPMNLK" .+" l9EE,m1" =\MUSLNPK" RN]NRMN" S^" YSP[iRRUL^NP" k"UL[N^PQ[USL"S^"XSRWYSLU"U"]N["]QLMbN"MW^NZ\MOiMNLK"2QL]NRMZedMbSRNLM"YSPRQ^""-PQL]K"6+"l!AA;m1"2Sa"-\UR]UL^M"5NQPL1"aZQ["ZQXXNLM"QY[NP"[ZNWHPN"c\UR[K"4ZSNLU`"#RR\M[PQ[N]K"'PUSL"-SSbM""-PQNK"3+"QL]"5NNPcNP^K"%+"l9EE!m1"$W"QPbU[Nb[SLUMb"XPQbMUMK"aaa+QPbU[Nb[\PLN[+]b""-PUL[K" 6+" l!AACm1" 3RUS[" =PNU]MSLxM" TSL[PUc\[USL" [S" [ZN" MSTUSRS^W" SY" XPSYNMMUSLMK"7SPb"QL]"'TT\XQ[USLM"9E"lCm1"9FA"k"9?,""-PSaLK"J+K"#MQQTMK"(+"QL]"7ZNQ[RNWK"<+"l9EEFm1"%ZN"7SPR]"*QYwK"-NPPN[[D/SNZRNP"4\cRUMZNPM""-\ZR"4N]NPMNLK"6+"l9EEBm1"%PQULMK"XRQLNM"QL]"XNSXRN"UL"Q"MXQTN"SY"[PQONR1"&NRQ[UL^"x[ZN" RSTQRx" [S" x[ZN" ^RScQRx" UL" *SXNLZQ^NL" .UPXSP[" 6[Q[USLK" UL" *RN^^K" 6+" QL]"/SPLcNP^NPK"<+"lN]M+m1"6XQTNK"'P^QLU_Q[USL"QL]"<QLQ^NVNL["%ZNSPW+"*SXNLZQ^NL"-\MULNMM"6TZSSR"4PNMM""-\PPNRK"0+"QL]"(QRNK"/+"l9EECm1"-\UR]UL^"-N[[NP"7SPR]Mo".PTZU[NT[\PN"QL]"*PU[UTQR"<QLQ^NVNL[" 6[\]UNMK" UL" .RONMMSLK" <+" QL]" 7URRVS[[K" 2+" lN]M+m1" 6[\]WUL^"<QLQ^NVNL["*PU[UTQRRWK"6Q^N""*QRRSLK" <+" QL]" 5Q[S\PK" -+" l!A,!m1" )LMTPNaUL^" [ZN" cU^" 5NOUQ[ZQL1" 2Sa" QT[SPM"VQTPSDM[P\T[\PN"PNQRU[W"QL]"ZSa"MSTUSRS^UM[M"ZNRX"[ZNV"[S"]S"MSK"UL"/LSPPD*N[ULQK"/+" QL]" *UTS\PNRK" .+G+" lN]M+m1" .]OQLTNM" UL" MSTUQR" [ZNSPW" QL]" VN[ZS]SRS^W" k"%SaQP]M" QL]" UL[N^PQ[USL" SY" VUTPS" QL]"VQTPSDMSTUSRS^UNMK" &S\[RN]^N" QL]" /N^QL"4Q\R""*QRRSLK"<+"l!A,Bm1"6SVN"NRNVNL[M"SY"Q"MSTUSRS^W"SY"[PQLMRQ[USL1"]SVNM[UTQ[USL"SY"[ZN" MTQRRSXM"QL]" [ZN" YUMZNPVNL"SY"6[+"-PUN\T"-QWK" UL"5QaK" J+" lN]+m1"4SaNPK"QT[USL"QL]"cNRUNYK"&S\[RN]^N"

9A!""

"*ZQLRQ[K" J+D=+" l9EEBm1" 6XQTNK"'P^QLUMQ[USL" QL]"<QLQ^NVNL[" %ZULbUL^1"." 6STUSD2UM[SPUTQR" 4NPMXNT[UONK" UL" *RN^^K" 6+" QL]" /SPLcNP^NPK" <+" lN]M+m" l9EEBm1" 6XQTNK"'P^QLU_Q[USLM"QL]"<QLQ^NVNL["%ZNSPWK"*SXNLZQ^NL"-\MULNMM"6TZSSR"4PNMM"""*RN^^K" 6+" QL]" /SPLcNP^NPK" <+" lN]M+m" l9EEBm1" 6XQTNK" 'P^QLU_Q[USLM" QL]"<QLQ^NVNL["%ZNSPWK"*SXNLZQ^NL"-\MULNMM"6TZSSR"4PNMM""*SRRULK"=+"l9EECm1"/SLM[P\b[UOUMVNK"6QVY\L]MRU[[NPQ[\P""*SRRSXWK" =+" l9EE;m1" #" %ZULb" 7U[Z" <W" 2QL]M1" 'L" -QRQLTUL^" [ZN" #L[\U[UON" QL]".LQRW[UTK" UL"-SRQL]K"&+"QL]"*SRRSXWK"=+" lN]M+m1"<QLQ^UL^"QM"(NMU^LUL^K"6[QLYSP]")LUONPMU[W"4PNMM"""*SSXNPK" &+" QL]" 4PNMMK" <+" l!AAFm1" %ZN" (NMU^L" .^NL]Q+" ." 0\U]N" [S" 6\TTNMMY\R"(NMU^L"<QLQ^NVNL[K"JSZL"7URNW"QL]"6SLM"5[]+"""*PQc[PNNK".+" l!AA,m1" 3[ZLS^PQXZW" UL" 4QP[UTUXQ[SPW"(NMU^LK" UL" 4PSTNN]UL^M" SY" [ZN"!AA,"4QP[UTUXQ[SPW"(NMU^L"*SLYNPNLTN""*PSMcUNK" <+" l!AAFm1" %ZN" 6TZSSRM1" 2Sa" %ZNWHPN" =QURUL^" [ZN" 4PSYNMMUSLK" UL"4PS^PNMMUON".PTZU[NT[\PNK"?B"lAm""*\YYK"(+"l!AA!m1".PTZU[NT[\PN1"%ZN"6[SPW"SY"4PQT[UTNK"<#%"4PNMM""(QRNK"/+" l9EEFm1"-\UR]UL^" Q"6STUQR"<Q[NPUQRU[W1"6XQ[UQR" QL]"3VcS]UN]"4SRU[UTM" UL"'P^QLU_Q[USLQR"*SL[PSRK"UL"'P^QLU_Q[USLK"!9lFm1"B;AkB?,""(QPMeK" 5+" l9EE;m1" .P[Y\R" *PNQ[USL1" 5NQPLUL^" %QRNM" SY" .P[M" UL" -\MULNMMK"6QVY\L]MRU[[NPQ[\P""(S\PUMZK"4+"l9EEBm1"#VXRUTQ[USLM"YSP"(NMU^LK"*SLYNPNLTN"XQXNPK"#L"4PSTNN]UL^M"SY"[ZN" 6#0*2#" *SLYNPNLTN" SL" 2\VQL" =QT[SPM" UL" *SVX\[UL^" 6WM[NVM" *2#K" .*<"4PNMM"""(\YYWK"=+"l!AA?m1"%ZN"$Na"'YYUTNK"*SLPQL"'T[SX\M"

9A9""

"(\YYWK"=+"QL]"7SP[ZUL^[SLK"J+"l9EE;m1"7SPbUL^"aU[ZS\["aQRRM+".L"ULMU^Z["UL[S"[ZN"[PQLMYSPVUL^" ^SONPLVNL[" aSPbXRQTNK" (307" QL]" 'YYUTN" SY" 0SONPLVNL["*SVVNPTN"""(\L]SLK"3+"l9EE9m1"%ZN"6NN]M"SY"#LLSOQ[USL1"*\R[UOQ[UL^"[ZN"6WLNP^W"[ZQ["=SM[NPM"$Na"#]NQMK"=QM["*SVXQLW"<Q^Q_ULNK"B!""3R^QQP]" JNLMNL1" %+" l9EEFm1" .b[ePDLN[OiPbM[NSPU" k" 5Q[S\PMK" *QRRSLM" S^" 5QaM"VQ[NPUNRRN"MNVUS[UbK"UL"3MVQPbK".+K"-Q^^N"5Q\M[MNLK"*+"QL]"ybNPM[PeV".L]NPMNLK"$+" lN]Mm1" 6STUQRbSLM[P\b[UOUM[UMbN" QLQRWMNM[PQ[N^UNPK" &SMbUR]N" )LUONPMU[N[MYSPRQ^" I"6QVY\L]MRU[[NPQ[\P""3RMcQTZK"/+(+"QL]"4PQ[[K"<+0+"l9EE,m1"%ZN"XZWMUTQR"NLOUPSLVNL["UL"SP^QLU_Q[USLMK"UL"7QRMZK" J+" z" -PUNYK" .+" lN]M+mK" .TQ]NVW" SY" <QLQ^NVNL[" .LLQRM" !K" 5QaPNLTN"3PRcQ\V""3PUbMMSLK"4+"QL]"/SOQRQULNL".+"l9EE,m1":\QRU[Q[UON"<N[ZS]M"UL"-\MULNMM"&NMNQPTZK"6Q^N""3M[NPcNP^K"/+"l9EE9m1":\QRU[Q[UON"<N[ZS]M"UL"6STUQR"&NMNQPTZK"<T0PQaD2URR""3MVQPbK" .+K" -Q^^N" 5Q\M[MNLK" *+" QL]" ybNPM[PeV" .L]NPMNLK" $+" lN]M+m1"6STUQRbSLM[P\b[UOUM[UMbN" QLQRWMNM[PQ[N^UNPK" &SMbUR]N" )LUONPMU[N[MYSPRQ^" I"6QVY\L]MRU[[NPQ[\P""3aNLM[NULK" -+" QL]"7ZW[NK" J+" l9EE?m1" -NWSL]"7SP]M1" .NM[ZN[UT" /LSaRN]^N" QL]"/LSaUL^"UL"'P^QLU_Q[USLMK"UL"'P^QLU_Q[USL"6[\]UNM"9,"lEFm1"B,AD?E,""=NR][ZQ\MK"4+"l9EE;m1"<QM[NP"[ZNMUMK"<-."-80K"*SXNLZQ^NL"-\MULNMM"6TZSSR""=NR][ZQ\MK"4+"l9EEBm1"=PQ"NL"]QLMb"QPbU[Nb[\P[PQ]U[USL"[UR"YQ^PN"LWN"ONP]NL+"#L[NPLQR"NMMQWK".PbU[NVQ""=UMZNPK"%+"l9EEEm1"#L"[ZN"MTZNVN"SY"[ZUL^M1".R[NPLQ[UON"[ZULbUL^"SL"[ZN"XPQT[UTN"SY"QPTZU[NT[\PNK")LUONPMU[W"SY"<ULLNMS[Q"4PNMM"

9AC""

"=UMZNPK"%+" l9EE!m1"&NOUMU[UL^" [ZN"(UMTUXRULN"SY".PTZU[NT[\PNK" UL"4US[PSaMbUK"."QL]"&ScULMSL"lN]M+m1"%ZN"(UMTUXRULN"SY".PTZU[NT[\PNK")LUONPMU[W"SY"<ULLNMS[Q"4PNMM"""=SPMW[ZNK" (+" l!AAAm1" n#[HM" J\M[" Q" <Q[[NP" SY" *SVVSL" 6NLMNH1" 3[ZLS^PQXZW" QM"#LOUMUcRN"7SPbK"UL"*SVX\[NP"6\XXSP[N]"*SSXNPQ[UON"7SPbK",1"!9?D!;F""=PUUMK"/+"l9EE?m1"*SLMTUS\M"(NMU^L"4PQT[UTN"QM"Q"6[PQ[N^UT"%SSRK"4Z("]UMMNP[Q[USLK"%ZN"(QLUMZ")LUONPMU[W"SY"3]\TQ[USL"""0Q^RUQP]UK" 4+" lN]M+m" l!AAEm1" 6WVcSRM" QL]" .P[UYQT[M1" OUNaM" SY" [ZN" TSPXSPQ[N"RQL]MTQXNK"]N"0P\W[NP""0QP\]K"&+K"JQULK"6+"QL]"%\NP[MTZNPK"4+"l9EE,m1"#LTSVXRN[N"cW"(NMU^L"QL]"(NMU^LUL^"YSP"#LTSVXRN[NLNMMK"UL"'P^QLU_Q[USL"6[\]UNMK"9A"lECm1"CF!kC?!""0NNP[_K"*+"l!AACm1"%ZN"#L[NPXPN[Q[USL"SY"*\R[\PNMK"=SL[QLQ"4PNMM""0NZPWK"=+"l9EE;m1"&NYRNT[USLM"SL"(NMU^LUL^"QL]".PTZU[NT[\PQR"4PQT[UTNK"UL"-SRQL]K"&+"QL]"*SRRSXWK"=+"lN]M+m1"<QLQ^UL^"QM"(NMU^LUL^K"6[QLYSP]")LUONPMU[W"4PNMM""0USUQK"(+" QL]"*ZU[[UXN]]UK"/+" l!AA!m1" 6NLMNVQbUL^" QL]"6NLMN^UOUL^" UL" 6[PQ[N^UT"*ZQL^N"#LU[UQ[USLK"UL"6[PQ[N^UT"<QLQ^NVNL["JS\PLQR"!9"lBm1";CCD;;,""0PNNLcQ\VK" J+" QL]" /WL^K" <+" l!AACm1" (NMU^L" Q[" aSPb1" *SSXNPQ[UON" ]NMU^L" SY"TSVX\[NP"MWM[NVMK"5QaPNLTN"3PRcQ\V""0\cPU\VK" J+" =+" QL]"2SRM[NULK" J+" .+" l9EE9m1" =PSV" [ZN" UL]UOU]\QR" UL[NPOUNa" [S" [ZN"UL[NPOUNa" MSTUN[WK" UL" 0\cPU\VK" J+" =+" QL]" 2SRM[NULK" J+" .+" lN]M+m1" 2QL]cSSb" SY"#L[NPOUNa"&NMNQPTZ+"*SL[N`["QL]"<N[ZS]K"6Q^N""0\[VQLK" &+" l!A,,m1" .PTZU[NT[\PQR" 4PQT[UTN+" ." *PU[UTQR" GUNaK" 4PULTN[SL".PTZU[NT[\PQR"4PNMM""

9A;""

2QLMNLK"2+5+"l9EE?m1"6XQTNM"YSP"RNQPLUL^"QL]"aSPbUL^1"."h\QRU[Q[UON"M[\]W"SY"[ZN"TZQL^N" SY" aSPbK" VQLQ^NVNL[K" XSaNP" QL]" MSTUQR" XPQT[UTNM" UL" SXNL" SYYUTNMK" 4Z("[ZNMUMK"*SXNLZQ^NL"-\MULNMM"6TZSSR""2Q[TZK" <+J+" l!A,?m1" 4ZWMUTQR" -QPPUNPMK" %QMb" *ZQPQT[NPUM[UTMK" QL]" #L[NPQT[USL".T[UOU[W"UL"&NMNQPTZ"QL]"(NONRSXVNL["=UPVM"UL".]VULUM[PQ[UON"6TUNLTN":\QP[NPRWK"C91"C,?DCAA""2Q[TZK" <+J+" l!AA?m1" 'P^QLU_Q[USL" %ZNSPW1" <S]NPLK" 6WVcSRUTD#L[NPXPN[UON" QL]"4SM[VS]NPL"4NPMXNT[UONMK"'`YSP]")LUONPMU[W"4PNMM""2Q[TZK" <+J+K" 6TZ\R[_K" <+" QL]" 2SR[NL" 5QPMNLK" <+" l!AA?m1" %ZN" N`XPNMMUON"'P^QLU_Q[USL1" RULbUL^" U]NL[U[WK" PNX\[Q[USL" QL]" [ZN" TSPXSPQ[N" cPQL]K" '`YSP]")LUONPMU[W"4PNMM""2Q_NLK" <+.+" l!AACm1" %SaQP]M" 4SRWXZSLUT" 'P^QLU_Q[USLK" UL" JS\PLQR" SY"'P^QLU_Q[USLQR"*ZQL^N"<QLQ^NVNL[K"B"lFm1"!FD9B""2NPLNMK" %+" l9EECm1" 'P^QLU_Q[USL" QM" 3OSR\[USL" SY" 6XQTNK" UL" *_QPLUQaMbQK" -+" QL]"6NOSLK" 0+" lN]M+m1" $SP[ZNPL" 5U^Z[M" D" 'P^QLU_Q[USL" %ZNSPW" UL" 6TQL]ULQOUQK"*SXNLZQ^NL"-\MULNMM"6TZSSR"4PNMM""2NPLNMK" %+" l9EE;m1" %ZN" 6XQ[UQR" *SLM[P\T[USL" SY" 'P^QLU_Q[USLK" .]OQLTNM" UL"'P^QLU_Q[USL"6[\]UNM""2NPLNMK" %+K"-QbbNLK" %+" QL]"'RMNLK" 4+" #+" l9EEBm1" 6XQTN" QM" 4PSTNMM1"(NONRSXUL^" Q"&NT\PMUON"4NPMXNT[UON"SL"'P^QLU_Q[USLQR"6XQTNK" UL"*RN^^K"6+"QL]"/SPLcNP^NPK"<+"lN]M+m1" 6XQTNK" 'P^QLU_Q[USLM" QL]" <QLQ^NVNL[" %ZNSPWK" *SXNLZQ^NL" -\MULNMM"6TZSSR"4PNMM""2URRK"J+"l!AAAm1"5QaRNMM"#LM[U[\[USLM1"QPTZU[NT[\PN"QL]"U[M"XPQT[UTNK"UL"%ZN"JS\PLQR"SY".PTZU[NT[\PN";1",ADAC""2URRK"J+"l9EE!m1"%ZN")MN"SY".PTZU[NT[MK"UL")PcQL"6[\]UNM"C,"l9m1"CF!DCBF""

9AF""

2SRM[NULK"J+"QL]"0\cPU\VK"J+"l9EE;m1"%ZN"QT[UON"UL[NPOUNaK"UL"6URONPVQLK"(+"lN]+m1":\QRU[Q[UON"&NMNQPTZ+"%ZNSPWK"<N[ZS]"QL]"4PQT[UTNK"6Q^N""2SPNRRUK"5+" l9EE9m1"."<N[ZS]SRS^W"SY"4QP[UTUXQ[SPW"4RQLLUL^K" UL"-NTZ[NRK"&+" QL]"*Z\PTZVQLK" .+" lN]M+m1" 2QL]cSSb" SY" 3LOUPSLVNL[QR" 4MWTZSRS^WK" JSZL"7URNW" z"6SLM""2SP^NLK"%+K" JSPSYYK"<+K" 4SP[NPK"7+" QL]"6TZ{LK"(+" l!AAAm1"3`TNRRNLTN" cW"(NMU^LK"JSZL"7URNW"z"6SLM""#d\PUK" 8+" QL]" /\ZLK" &+" l!A,,m1" $Na" (UPNT[USLM" UL" *PNQ[UON" QL]" #LLSOQ[UON"<QLQ^NVNL[1"-PU]^UL^"%ZNSPW"QL]"4PQT[UTNK"-QRRUL^NP"4\cRUMZUL^""#ONWK" <+" QL]" 6QL]NPMK" 3+" l9EEBm1" (NMU^LUL^" Q" 4ZWMUTQR" 3LOUPSLVNL[" YSP" *SDN`XNPUNLTN" QL]" .MMNMMUL^" 4QP[UTUXQL[" )MNK" *SLYNPNLTN" XQXNPK" (NMU^L" &NMNQPTZ"6STUN[W"#L[NPLQ[USLQR"*SLYNPNLTN""JvPOULNLK" <+" QL]" <UbD<NWNPK" $+" lN]M+m" l9EEFm1" /OQRU[Q[UON" VN[S]NP" U" N["UL[NPQb[USLUM[UMb" XNPMXNb[UO+" #L[NPOUNaK" ScMNPOQ[USLNP" S^" ]Sb\VNL[NPK" 2QLM"&NU[_NRM"=SPRQ^""JvPOULNLK"<+" l9EEFm1" #L[NPOUNaM" U" NL" UL[NPQb[USLUM[UMb"cN^PNcMPQVVNK" UL" JvPOULNLK"<+"QL]"<UbD<NWNPK"$+"lN]M+m1"/OQRU[Q[UON"VN[S]NP"U"N["UL[NPQb[USLUM[UMb"XNPMXNb[UO+"#L[NPOUNaK"ScMNPOQ[USLNP"S^"]Sb\VNL[NPK"2QLM"&NU[_NRM"=SPRQ^""J\M[NMNLK" 5+" l9EEFm1" (Sb\VNL[NP" U" LN[OiPbK" UL" JvPOULNLK"<+" QL]"<UbD<NWNPK" $+"lN]M+m1" /OQRU[Q[UON" VN[S]NP" U" N[" UL[NPQb[USLUM[UMb" XNPMXNb[UO+" #L[NPOUNaK"ScMNPOQ[USLNP"S^"]Sb\VNL[NPK"2QLM"&NU[_NRM"=SPRQ^""/SPLcNP^NPK"<+"QL]"*RN^^K"6+"l9EECm1"%ZN".PTZU[NT[\PN"SY"*SVXRN`U[WK"UL"*\R[\PN"z"'P^QLU_Q[USLMK"A"l9m1"?FDA!""/SPLcNP^NPK"<+" QL]" *RN^^K" 6+" l9EE;m1" -PUL^UL^" 6XQTN" -QTb" ULK" UL" 'P^QLU_Q[USL"6[\]UNM"9F"l?m1"!EAFD!!!;""

9AB""

/SPLcNP^NPK"<+" QL]"*RN^^K" 6+" QL]"*QP[NPK"*+" l9EEBm1"&N[ZULbUL^" [ZN" XSRWXZSLUT"SP^QLU_Q[USL1" <QLQ^UL^" QM" ]UMT\PMUON" XPQT[UTNK" UL" 6TQL]ULQOUQL" JS\PLQR" SY"<QLQ^NVNL["l99m1"CDCE""/PUM[NLMNLK" %+" QL]" 0PeLZQ\^K" /+" l9EECm1" (NL" P\VRU^N" bSL[NbM[" YSP" ULLSOQ[USLK"$SP]UMbN"'P^QLUMQMdSLMM[\]UNP";1"F;D?,""/OQRNK"6+"l!AA?m1"#L[NPGUNaK"2QLM"&NU[_NRM"=SPRQ^""""5QPMSLK"<+6+"l!A??m1"%ZN"&UMN"SY"4PSYNMMUSLQRUMVK")LUONPMU[W"SY"*QRUYSPLUQ"4PNMM""5QPMSLK"<+6+"l!AACm1"-NZUL]"[ZN"4SM[VS]NPL"=QTQ]N1".PTZU[NT[\PQR"*ZQL^N"UL"5Q[N"%aNL[UN[ZDTNL[\PW".VNPUTQK")LUONPMU[W"SY"*QRUYSPLUQ"4PNMM""5Q[S\PK"-+"l!A,Bm1"GUM\QRU_Q[USL"QL]"*S^LU[USL1"%ZULbUL^"aU[Z"3WNM"QL]"2QL]MK"UL"/LSaRN]^N"QL]"6STUN[W1"6[\]UNM"UL"[ZN"6STUSRS^W"SY"*\R[\PN"4QM["QL]"4PNMNL[K"B1"!D;E""5Q[S\PK" -+" l!AA!m1" %NTZLSRS^W" UM" 6STUN[W" <Q]N" (\PQcRNK" UL" 5QaK" J+" lN]+m1" ."6STUSRS^W"SY"<SLM[NPM1"3MMQWM"SL"4SaNPK"%NTZLSRS^W"QL]"(SVULQ[USLK"&S\[RN]^N""5Q[S\PK"-+"l!AAAm1"*UPT\RQ[UL^"&NYNPNLTN1"6QVXRUL^"[ZN"6SUR"UL"[ZN".VQ_SL"=SPNM[K"UL"4QL]SPQHM"2SXNK"2QPOQP]")LUONPMU[W"4PNMM""5Q[S\PK"-+"l9EEFm1"#L[PS]\T[USL1"2Sa"[S"&NM\VN"[ZN"%QMb"SY"%PQTUL^".MMSTUQ[USLMK"UL"&NQMMNVcRUL^"[ZN"6STUQRK"'`YSP]")LUONPMU[W"4PNMM""5Q[S\PK"-+"l9EEBm1"'V"Qb[ePDLN[OiPbM[NSPU+"$S^RN"Yj"QYbRQPUL^NP"S^"VNPN"NL]"LS^RN"Yj"YSPOUbRUL^NPK"UL"GU"ZQP"QR]PU^"OiPN["VS]NPLNK"2QLM"&NU[_NRM"=SPRQ^""5QaK"J"l!AA9m1"$S[NM"SL"[ZN"%ZNSPW"SY"[ZN".T[SPD$N[aSPb1"'P]NPUL^K"6[PQ[N^WK"QL]"2N[NPS^NLNU[WK"UL"6WM[NVM"4PQT[UTN"F"l;m1"C?ADCAC"""5QaMSLK"-+"l!AA?m1"2Sa"]NMU^LNPM"[ZULb1"[ZN"]NMU^L"XPSTNMM"]NVWM[UYUN]K"3RMNOUNPK".PTZU[NT[\PQR"4PNMM""

9A?""

5NQ[ZNPcQPPSaK"(+"l9EE!m1".PTZU[NT[\PN"UL"U[M"SaL"]UMTUXRULNK"UL"4US[PSaMbUK".+"QL]"&ScULMSLK"J+"lN]M+m1"%ZN"(UMTUXRULN"SY".PTZU[NT[\PNK")LUONPMU[W"SY"<ULLNMS[Q"4PNMM""5S[_K" /+" l9EEFm1" 6XNTUYUbbN" .PbU[Nb[SLUMbN" /SVXN[NLTNPK" U" 4PSTNM" l!AmK"/\LM[QbQ]NVUN[M".PbU[Nb[MbSRN""<QPTZK"J+0+"QL]"6UVSLK"2+"l!AF,m1"'P^QLU_Q[USLMK"7URNW""<QPTZK" J+0+" QL]" 'RMNLK" J+4+" l!A?Bm1" .VcU^\U[W" QL]" TZSUTN" UL" SP^QLU_Q[USLMK")LUONPMU[N[MYSPRQ^N[""<QPTZK" J+0+" l9EEFm1"GQR^K"OQLN"S^"OUMUSL" D"XNPMXNb[UONP"Xj"QMXUPQ[USL"S^"Q]YiP]K"6QVY\L]MRU[[NPQ[\P""<QPb\MK"%+"QL]"*QVNPSLK"(+"l9EE9m1"%ZN"7SP]M"-N[aNNL"[ZN"6XQTNMK"&S\[RN]^N""<QWK" <+" l9EEBm1" %ZN" 3RN^QL[" 6SR\[USL1" %SWS[QHM" =SPV\RQ" YSP" <QM[NPUL^"#LLSOQ[USLK"6UVSL"z"6TZ\M[NP""<URRNPK" 0+" QL]" =S`K" /+" l9EE;m1" -\UR]UL^" cPU]^NM1" [ZN" XSMMUcURU[W" SY" QLQRW[UT"]UQRS^\N"cN[aNNL"N[ZLS^PQXZWK"TSLONPMQ[USL"QLQRWMUM"QL]"=S\TQ\R[K" UL"6URONPVQLK"(+"lN]+m1":\QRU[Q[UON"&NMNQPTZ+"%ZNSPWK"<N[ZS]"QL]"4PQT[UTNK"6Q^N""<UbD<NWNPK" $+" l9EE;m1" (eV[" [UR" XNPMSLRU^" \]OUbRUL^+" #]NL[U[N[MQPcNd]N" U"PNOQRU]NPUL^K"4Z+]+"QYZQL]RUL^K"6STUSRS^UMb"#LM[U[\[K"/ecNLZQOLM")LUONPMU[N[""<UbD<NWNPK" $+" l9EEFm1" (Sb\VNL[M[\]UNP" U" N[" UL[NPQb[USLUM[UMb" XNPMXNb[UOK" UL"JvPOULNLK"<+" QL]"<UbD<NWNPK"$+" lN]M+m1"/OQRU[Q[UON"VN[S]NP" U" N[" UL[NPQb[USLUM[UMb"XNPMXNb[UO+"#L[NPOUNaK"ScMNPOQ[USLNP"S^"]Sb\VNL[NP+"2QLM"&NU[_NRM"=SPRQ^"""<UbD<NWNPK" $+" l9EEAm1"<N[S]NbSVcULQ[USLK" UL" (QPVNPK" 4+K" JSP]QLMNLK" J+.+" QL]"%ZSVMNLK" J+" lN]M+m1" 4QPQ]U^VNP" U" XPQbMUM+" .LONL]NRMN" QY" VN[S]NP" [UR" M[\]UN[" QY"SP^QLUMNPUL^MD"S^"RN]NRMNMXPSTNMMNPK"YSP[ZTSVUL^"""<SMcNTZK"/+"l9EECm1".PcNd]MP\VVN[K"=SL]NL"&NQR]QLUQ""

9A,""

<WNPMK"<+"l9EEAm1":\QRU[Q[UON"&NMNQPTZ"UL"-\MULNMM"QL]"<QLQ^NVNL[K"6Q^N%%"$SPVQLK"(+"l!A,,m1"%ZN"(NMU^L"SY"3ONPW]QW"%ZUL^MK"-QMUT"-SSbM""'R]ZQVK"0+"QL]"-PQMMK"(+"l!A?Am1"3VXRSWNN"&NQT[USLM"[S"QL"'XNLD4RQL"'YYUTN1"."$Q[\PQRRW"'TT\PPUL^":\QMUD3`XNPUVNL[K" UL".]VULUM[PQ[UON" 6TUNLTN":\QP[NPRWK" 9;1"9B?D9,;""4US[PSaMbUK" .+" QL]" &ScULMSLK" J+" lN]M+m" l9EE!m1" %ZN" (UMTUXRULN" SY" .PTZU[NT[\PNK")LUONPMU[W"SY"<ULLNMS[Q"4PNMM""4PUSPK"5+'l9EECm1')MUL^'(ST\VNL[M"UL"6STUQR"&NMNQPTZb"6Q^N""4PUSPK"5+"l9EE;m1"(SUL^"[ZUL^M"aU[Z"]ST\VNL[MK"UL"6URONPVQLK"(+"lN]+m1":\QRU[Q[UON"&NMNQPTZ+"%ZNSPWK"<N[ZS]"QL]"4PQT[UTNK"6Q^N""&STbK" 4+" l9EE!m1" 6WVcSRUT" #L[NPQT[USLUMV" QL]" 3[ZLS^PQXZWK" UL" .[bULMSLK" 4+K"*SYYNWK" .+K" (NRQVSL[K" 6+K" 5SYRQL]K" J+" QL]" 5SYRQL]K" 5+" lN]M+m1" 2QL]cSSb" SY"3[ZLS^PQXZWK"6Q^N""&SVVNK" .+0+5+" l9EECm1" <QbUL^" Q" ]UYYNPNLTN1" 'P^QLU_Q[USL" QM" ]NMU^LK"'P^QLU_Q[USL"6TUNLTN"!;"lFm1"FF,kF?C""6QUL[K".+"l!A,Cm1"%ZN"#VQ^N"SY"QL".PTZU[NT[K"8QRN")LUONPMU[W"4PNMM""6QRQLTUbK"0+&+"l!A??m1"*SVVU[VNL["QL]"[ZN"TSL[PSR"SY"SP^QLU_Q[USLQR"cNZQOUSP"QL]"cNRUNYK" UL"6[QaK"-+<+"QL]"6QRQLTUbK"0+&+" lN]M+m1"$Na"]UPNT[USLM" UL"SP^QLU_Q[USLQR"cNZQOUSPK"6[+"*RQUP""6TZ\RNPK"(+"QL]"$QVUSbQK".+"lN]M+m"l!AACm1"4QP[UTUXQ[SPW"(NMU^L"k"4PULTUXRNM"QL]"4PQT[UTNMK"5QaPNLTN"3PRcQ\V".MMSTUQ[USL"4\cRUMZNPM""6TZS[[NPK" J+" l9EE,m1" (UQRS^UMV" QL]" 4SRWXZSLW" UL" 'P^QLU_UL^" %ZNSPU_UL^" UL"'P^QLU_Q[USL"6[\]UNM1".T[USL"0\U]UL^".L[UTUXQ[USLM"QL]" [ZN"*SL[UL\S\M"*PNQ[USL"SY"$SONR[WK"UL"'P^QLU_Q[USL"6[\]UNM"9A"lE;m1"FE!DF9;""

9AA""

6URONPVQLK"(+"l!AACm1"#L[NPXPN[UL^":\QRU[Q[UON"(Q[Q+"<N[ZS]M"YSP".LQRWMUL^"%QRbK"%N`["QL]"#L[NPQT[USLK"6Q^N""6URONPVQLK" (+" lN]+m" l9EE;m1" :\QRU[Q[UON" &NMNQPTZ+" %ZNSPWK"<N[ZS]" QL]" 4PQT[UTNK"6Q^N""6VUPTUTZK"5+"l!A,Cm1"'P^QLU_Q[USLM"QM"MZQPN]"VNQLUL^K"UL"4SL]WK"5+&+K"=PSM[K"4+J+K"<SP^QLK" 0+" QL]" (QL]PU]^NK" %+*+" lN]M+m1" 'P^QLU_Q[USLQR" 6WVcSRUMVK" 0PNNLaUTZK"*%1"J.#""""6VU[ZK" (+" l!A,;m1" %N`[\QRRW" VN]UQ[N]" MSTUQR" SP^QLU_Q[USLK" #L[NPLQ[USLQR" 6STUQR"6TUNLTN"JS\PLQRK"CB1"FAD?;""6VU[ZK" (+" l9EE!m1" %N`[M" QL]" [ZN" 'L[SRS^W" SY" 'P^QLU_Q[USLM" QL]" #LM[U[\[USLMK" UL"6[\]UNM"UL"*\R[\PNMK"'P^QLU_Q[USL"QL]"6STUN[W"?1"!FAD!A,""6XPQ]RNWK"J+"l!A?Am1"%ZN"3[ZLS^PQXZUT"#L[NPOUNaK"2SR[K"&ULNZQP["QL]"7ULM[SL""6[QLbUNaUT_K"&+"l9EEEm1"%ZN"TSLTNX["SY"x]NMU^L"MXQTNxK"UL">UVQLK"J+1"%NTZLSRS^UTQR"#LLSOQ[USL"Q"QL"3OSR\[USLQPW"4PSTNMMK"*QVcPU]^N")LUONPMU[W"4PNMM""6[QaK" -+<+" l!A,9m1" *S\L[NPYSPTNM" [S" TZQL^NK" UL" 0SS]VQLK" 4+6+" QL]" QMMSTUQ[NM"lN]M+m1"*ZQL^N"UL"SP^QLU_Q[USLM1"$Na"XNPMXNT[UONM"SL"[ZNSPWK"PNMNQPTZ"QL]"XPQT[UTNK"JSMMNWD-QMM""6[NULNPK" 0+" l!AA,m1" .Y[NP" -QcNR1" .MXNT[M" SY" 5QL^\Q^N" QL]" %PQLMRQ[USLK" '`YSP]")LUONPMU[W"4PNMM"""6\TZVQLK" 5+" l9EE;m1" (NTNL[NPUL^" [ZN" <QLQ^NPI(NMU^LNPK" UL" -SRQL]K" &+" QL]"*SRRSXWK"=+"lN]M+m1"<QLQ^UL^"QM"(NMU^LUL^K"6[QLYSP]")LUONPMU[W"4PNMM"""%QWRSPK"6+"QL]"6XUTNPK".+"l9EE?m1"%UVN"YSP"MXQTN1"."LQPPQ[UON"PNOUNa"SY"PNMNQPTZ"SL"SP^QLU_Q[USLQR"MXQTNMK"UL"#L[NPLQ[USLQR"JS\PLQR"SY"<QLQ^NVNL["&NOUNaM"A"l;m1"C9FDC;BK"7URNWD-RQTbaNRR""

CEE""

%N]RSTbK"-+"l9EEEm1"%ZN"'cMNPOQ[USL"SY"4QP[UTUXQ[USL"QL]"[ZN"3VNP^NLTN"SY"4\cRUT"3[ZLS^PQXZWK" UL" (NL_ULK" $+" QL]" 5ULTSRLK" 8+" lN]M+m1" %ZN" 6.03" ZQL]cSSb" SY"h\QRU[Q[UON"PNMNQPTZ"""%PN`RNP" 4PSYYU[[K" 7+" QL]" >QZLK" 0+5+" l9EEBm1" (NMU^LK" c\[" .RU^L1" [ZN" PSRN" SY"'P^QLUMQ[USLQR" 4ZWMUTQR" 6XQTNK" .PTZU[NT[\PN" QL]" (NMU^L" UL" *SVV\LUTQ[UL^"'P^QLUMQ[USLQR" 5N^U[UVQTWK" UL" *RN^^K" 6+" QL]" /SPLcNP^NPK" <+" lN]M+m1" 6XQTNK"'P^QLU_Q[USLM"QL]"<QLQ^NVNL["%ZNSPWK"*SXNLZQ^NL"-\MULNMM"6TZSSR"4PNMM""%\QLK"8+D=+"l!A??m1"6XQTN"QL]"4RQTN+"%ZN"4NPMXNT[UON"SY"3`XNPUNLTNK")LUONPMU[W"SY"<ULLNMS[Q"4PNMM""%_SLUMK" .+" l9EE!m1" -N[aNNL" .PTZU[NT[\PN" QL]" <QLQ^NVNL[" l]PQY[m" s.\[ZSPHM"TSVVNL[1" q6SVN" SY" [ZNMN" U]NQM" ZQON" cNNL" ULTR\]N]" UL" [ZUM" ]PQY[" ZQON" cNNL"XPNMNL[N]"UL"Q"MNPUNM"SY"TS\PMNM"^UONL"UL"[ZN"*SRRN^N"]N"=PQLTNK"4QPUMK"<QW"9EE!K"[S"QXXNQP" QRMS" UL" (NMU^LUL^K" Q" *S^LU[UON" %ZNSPWK" *QVcPU]^N1" <#%" 4PNMM"lYSP[ZTSVUL^mrt""GQL"<QQLNLK"J+"l!A,,m1"%QRNM"SY"[ZN"YUNR]K")LUONPMU[W"SY"*ZUTQ^S"4PNMM""GQL"<QPPNaUdbK".+2+"l9EEAm1"*SPXSPQ[N"2NQ]h\QP[NPM"QM"4ZWMUTQR"3VcS]UVNL[M"SY"'P^QLUMQ[USLQR"*ZQL^NK" UL" JS\PLQR" SY"'P^QLU_Q[USL"*ZQL^N"<QLQ^NVNL[K" 99" lCm1"9AEDCEB""GSL" 2UXXNRK" 3+" l9EE?m1" 2SPU_SL[QR" ULLSOQ[USL" LN[aSPbM" D" cW" QL]" YSP" \MNPMK" UL"#L]\M[PUQR"QL]"*SPXSPQ[N"*ZQL^N"!B"l9m1"9ACDC!F""7NUTbK"/+3+"l!A?Am1"%ZN"6STUQR"4MWTZSRS^W"SY"'P^QLU_UL^K"<T0PQaD2URR""7NUTbK"/+3+"QL]"-PSaLUL^K"5+"l!A,Bm1".P^\VNL["QL]"$QPPQ[USL"UL"'P^QLU_Q[USLQR"*SVV\LUTQ[USLK"UL"JS\PLQR"SY"<QLQ^NVNL["!9"l9m1"9;CD9FAK"6Q^N"""7NUTbK"/+3+"l!AAFm1"6NLMNVQbUL^"UL"'P^QLU_Q[USLMK"6Q^N""7NUTbK"/+3+"l9EE!m1"<QbUL^"6NLMN"SY"[ZN"'P^QLU_Q[USLK"-RQTbaNRR""

CE!""

7NUTbK" /+3+" l9EE9m1" 4\__RNM" UL" 'P^QLU_Q[USLQR" 5NQPLUL^1" .L" 3`NPTUMN" UL"(UMTUXRULN]"#VQ^ULQ[USLK"UL"-PU[UMZ"JS\PLQR"SY"<QLQ^NVNL["!C1"?k!F""7NUTbK"/+3+"l9EECm1"'P^QLU_Q[USLQR"(NMU^L"QL]"[ZN"0NZPW"3`XNPUNLTNK"UL"JS\PLQR"SY"<QLQ^NVNL["#Lh\UPWK"!9"l!m1"ACDA?""7NUTbK"/+3+"l9EE;m1"&N[ZULbUL^"'P^QLU_Q[USLQR"(NMU^LK"UL"-SRQL]K"&+"QL]"*SRRSXWK"=+"lN]M+m1"<QLQ^UL^"QM"(NMU^LUL^K"6[QLYSP]")LUONPMU[W"4PNMM""7NUTbK"/+3+K"6\[TRUYYNK"/+K"QL]"'cM[YNR][K"(+"l9EEFm1"'P^QLU_UL^"QL]"[ZN"4PSTNMM"SY"6NLMNVQbUL^K"UL"'P^QLU_Q[USL"6TUNLTN"!B"l;m1";EAk;9!""7NUTbK"/+" l9EEBm1" =QU[ZK" NOU]NLTNK" QL]" QT[USL1"-N[[NP" ^\NMMNM" UL" QL" \LbLSaQcRN"aSPR]K"UL"'P^QLU_Q[USL"6[\]UNMK"9?"l!!m1"!?EAD!?9!""7PU^Z[K" .+" l9EE;m1" 3LZQLTUL^" UL]\T[UON" M[PQ[N^U_UL^" [ZPS\^Z" MNLMNVQbUL^" QL]"MTNLQPUS"[ZULbUL^K"7SPbUL^"4QXNP"6NPUNMK")LUONPMU[W"SY"7SRONPZQVX[SL""8QLNOQK" .+" l9EEFm1" 6TQRUL^" )X" QL]" (SaL1" 3`[PQT[USL" %PUQRM" UL" .PTZU[NT[\PQR"(NMU^LK"UL"6STUQR"6[\]UNM"SY"6TUNLTN"CF"lBm1",B?k,A;K"6Q^N""8QLSaK"(+"l!AAFm1"-\UR["6XQTN"QM"6[SPW1"%ZN"4SRUTW"6[SPUNM"%ZQ["-\UR]UL^M"%NRRK"UL"4SRUTW"6[\]UNM"JS\PLQR"9C"lCm1";E?D;99""8QLSaK"(+" l!AA,m1"6XQTN"6[SPUNM1"6[\]WUL^"<\MN\V"-\UR]UL^M"QM"'P^QLU_Q[USLQR"6XQTNM"7ZURN"&NYRNT[UL^"SL"#L[NPXPN[UON"<N[ZS]M"QL]"%ZNUP"$QPPQ[USLK" UL"JS\PLQR"SY"<QLQ^NVNL["#Lh\UPW"?"lCm1"9!FD9CA""8SSK" 8+K" -SRQL]K" &+" QL]" 5WW[ULNLK" /+" l9EEBm1" =PSV" 'P^QLU_Q[USL" (NMU^L" [S"'P^QLU_Q[USL"(NMU^LUL^K"'P^QLU_Q[USL"6TUNLTN"!?"l9m1"9!FD99A"">QZLK"0+5+"l!AA!m1"=QTND[SDYQTN"TSVV\LUTQ[USL"UL"QL"SYYUTN"MN[[UL^1"%ZN"NYYNT[M"SY"]UM[QLTNK"M[P\T[\PNK"QL]"N`XSM\PNK"UL"*SVV\LUTQ[USL"&NMNQPTZK"!,1"?C?D?F;"">NUMNRK" J+" l!A,;m1" #Lh\UPW" cW" (NMU^L+" %SSRM" YSP" NLOUPSLVNL[DcNZQOUSP" PNMNQPTZK"*QVcPU]^N")LUONPMU[W"4PNMM" "

CE9""

,*#4/&(%4-8D&&

.YZQL]RUL^NL" \L]NPMe^NP" bSLM[P\b[USLNL" QY" ^NLMU]U^N" bScRUL^NP" VNRRNV" [S"]NMU^L"XPSTNMMNP"MSV"[PQ]U[USLNR["QLMb\NM"MSV"Q]MbUR[N"S^"MNbONL[UNR["SP^QLUMNPN]N1"]NL"SP^QLUMQ[SPUMbN"S^"]NL"QPbU[Nb[SLUMbN"]NMU^L"XPSTNM+"6[\]UN[M"cQ^^P\L]"NP"]N"MNLNPN" jPM" M[U^NL]N" UL[NPNMMN" YSP" P\V" S^" QPbU[Nb[\P" MSV" M[PQ[N^UMb" PN]MbQc" U"VS]NPLN" RN]NRMNMXPQbMUMK" NL" UL[NPNMMN" MSV" S^Mj" ZQP" N[QcRNPN[" MU^" UL]NLYSP"SP^QLUMQ[USLM[NSPN[UMb"YSPMbLUL^+"3bMUM[NPNL]N"YSPMbLUL^"Xj"]N[[N"SVPj]N"ZQP"]S^"U"VUL]PN" ^PQ]" [Q^N[" \]^QL^MX\Lb[" U" NVXUPUMbN" M[\]UNP+" (N[" NP" ]N[[N"YSPMbLUL^MViMMU^N"OQb\\V"dN^"VN]"QYZQL]RUL^NL"eLMbNP"Q["cU]PQ^N"[UR"Q["\]YWR]N+"""<N]"ZNLcRUb"Xj"Q["\L]NPMe^N"bSLM[P\b[USLNL"QY"^NLMU]U^N"bScRUL^NP"VNRRNV"]NL"

QPbU[Nb[SLUMbN" S^" ]NL" SP^QLUMQ[SPUMbN" ]NMU^L" XPSTNM" NP" SP^QLUMNPN["cP\^NPUL]]PQ^NRMN"\]XN^N["MSV"M[\]UN[M"XPUViPN"^NLM[QL]MYNR[+"3VXUPUMb"[Q^NP"dN^"\]^QL^MX\Lb[" U" [S"]QLMbN"bSL[SPcW^^NPUNPK"ZOSP"]NL"QPbU[Nb[SLUMbN"]NMU^L"XPSTNM"ZQP" ULOSRONPN[" Zed" ^PQ]" QY" cP\^NPUL]]PQ^NRMN+" #" ]UMMN" XPSTNMMNP" ZQP" cW^LUL^NLM"MR\[cP\^NPN" OiPN[" NL^Q^NPN[" U" XRQLRQ^[N" YSPRecK" ]NP" SVYQL^MD" S^" UL]ZSR]MViMMU^["^jP" \]SONP" ]NL" [PQ]U[USLNRRN" bSL[Qb[" VNRRNV" Y`" bRUNL[" S^" QPbU[Nb[+" -P\^NPLNM"UL]]PQ^NRMN"UL]NcQP"]NR[Q^NRMN"U"cR+Q+"aSPbMZSXMK"UL[NPOUNaM"S^"]UQRS^Ve]NP+"(UMMN"Qb[UOU[N[NP" OQP" YSPcNPN][" S^" YQTURU[NPN[" QY" MjbQR][N" 2/0'1$+% &$+,-.$0$2K" NL"[URMWLNRQ]NL]N"LW"MXURRNP"U"]NL"QPbU[Nb[SLUMbN"]NMU^L"XPSTNM"S^"U"cW^^NPUN[+"0NLLNV"bSL[UL\NPRU^" cP\^NPUL]]PQ^NRMN" U" ]NL" QPbU[Nb[SLUMbN" ]NMU^L" XPSTNM" Me^[N" VQL" U"cN^^N"XPSdNb[NP"Q["MbQcN"NL"[i[[NPN"bScRUL^"[UR"]NL"XQPQRRNRRN"SP^QLUMQ[SPUMbN"]NMU^L"XPSTNM+"(N"[S"cW^^NXPSdNb[NP"NP"2URRNPe]"/SVV\LNM"LWN"Pj]Z\M"S^"QPbU[Nb[YUPVQN[".PbU[NVQM"LWN"]SVUTUR"U"fPNM[Q]+"""#" M[\]UN[" ZQP" dN^" YSPMe^[" Q[" QY]ibbNK" ZOURbN" PNM\R[Q[NP" ]NL" SP^QLUMNPN]N"

cP\^NPUL]]PQ^NRMNL"bQL"VN]YePN"YSP"ZZO+"]N["SP^QLUMQ[SPUMbN"S^"]N["QPbU[Nb[SLUMbN"]NMU^L+" .YZQL]RUL^NL" URR\M[PNPNP" S^" ]UMb\[NPNPK" ZOSP]QL" ]N" [S" VN^N["YSPMbNRRU^QP[N]N"]NMU^L"XPSTNMMNP" YSPMe^NM"bScRN[K" S^"ZOSPYSP"]N[" NP" MOiP[" Q[" RQON"Mj]QLLN" bScRUL^NP+" #" ]N" [S" NVXUPUMbN" M[\]UNP" U]NL[UYUTNPNP" dN^" NL" PibbN"HbScRUL^MX\Lb[NPH"lHTSLLNT[USLMHm"VNRRNV"]N"[S"]NMU^L"XPSTNMMNPK"bScRUL^MX\Lb[NP"

"

CEC""

MSV" PNXPiMNL[NPNP" M[N]NPK" ZOSP" TNL[PQRN" UVXRUbQ[USLNP" bQL" SXM[j+" %NSPN[UMb" [Q^NP"QYZQL]RUL^NL" \]^QL^MX\Lb[" U" NL" ]NR" QY" RU[[NPQ[\PNL" SV" MNLMNVQbUL^" U"SP^QLUMQ[USLNPK"S^"]NM\]NL"U"Qb[ePDLN[OiPbM"[NSPU+"4j"cQ^^P\L]"QY"]N"[S"XPSdNb[NPM"ZedN"^PQ]"QY"\[PQ]U[USLNRRN" MQVQPcNd]MPNRQ[USLNPK"ZOSP"]NR[Q^NPLNM" YSPMbNRRU^QP[N]N"MXPS^" S^" VN[S]UMbN" [UR^QL^N" ZQP" PNXPiMNL[NPN[" NL" MU^LUYUbQL[" \]YSP]PUL^K" ZQP"MNLMNVQbUL^"RU[[NPQ[\PNL"cU]PQ^N["[UR"cNM[PicNRMNPLN"Xj"Q["YSPbRQPN"S^"]UMb\[NPN"]N["NVXUPUMbN"VQ[NPUQRN+"#]N["XPSdNb[NPLN"MQV[U]U^"UL]NZSR]NP"Zed"^PQ]"QY"VQ[NPUQRU[N[1"MbU[MNPK"[N^LUL^NPK"]Sb\VNL[NPK"VO+"ZQP"Qb[ePDLN[OiPb"[NSPU"cU]PQ^N["VN]"NL"PibbN"[NSPN[UMbN"cN^PNcNP"MSV"ZQP"^dSP["]N["V\RU^["Q["QLQRWMNPN"S^"]UMb\[NPN"VQ[NPUQRN[+""#"YSPZSR]"[UR"]NL"SP^QLUMQ[SPUMbN"]NMU^L"XPSTNM"OUMNP"QLQRWMNPLN"cRQL]["QL]N[K"Q["

cP\^NPUL]]PQ^NRMNLM" YSb\M" Xj" P\V" S^" QPcNd]N[M" P\VRU^" SP^QLUMNPUL^" bQL" ^UON"QLRN]LUL^" [UR"Q[" U[QRNMi[[NK"]UMb\[NPN"S^"]NPVN]"\]YSP]PN"]NR[Q^NPLNM"SXYQ[[NRMN"QY"bSVXRNbMN"SP^QLUMQ[SPUMbN"YSPZSR]+"#"]UMMN"XPSTNMMNP"bQL"Y\L]QVNL[QRN"\NLU^ZN]NP"SV"SP^QLUMQ[SPUMbN"YSPZSR]"]NROUM["M[QcURUMNPN"VN]QPcNd]NPLNM"ZSR]LUL^NPK"^NLLNV"]NL" bSL[UL\NPRU^N" MQV[QRN" SV" QPcNd]N[M" P\VRU^N" M[P\b[\P" MSV"cP\^NPUL]]PQ^NRMNL"[URcW]NP+"2NP" MNP" MQV[QRNPLN" SV" P\V" \]" [UR" Q[" ^UON" QLRN]LUL^" [UR" NL" \]OU]NRMN" QY"VN]QPcNd]NPLNM" ^NLNPNRRN" YSPM[jNRMN" QY" bSVXRNbMU[N[NL" U" VS]NPLN"QPcNd]MSP^QLUMNPUL^+" -P\^NPUL]]PQ^NRMN" U" QPbU[Nb[SLUMbN" ]NMU^L" XPSTNMMNP" bQL"]NPYSP" ]NROUM[" MU^NM" Q[" ^UON" bRUNL[SP^QLUMQ[USLNL" V\RU^ZN]" YSP" Q[" MbQcN" NL"SP^QLUMQ[USL"]NP"NP"U"M[QL]"[UR"Q["P\VVN"MUL"N^NL"bSVXRNbMU[N[+"""#"YSPZSR]"[UR"]NL"QPbU[Nb[SLUMbN"]NMU^L"XPSTNM"URR\M[PNPNP"QYZQL]RUL^NL"]N["XPNMK"

MSV"QPbU[Nb[XPSYNMMUSLNL"MNP"\]" [UR"Q["SXRNON" U"]UMMN"jP+" #"]Q^" ULOSRONPNM"N["M[Q]U^"M[U^NL]N" QL[QR" cU]PQ^MW]NPN" U" ]N[K" ]NP" [PQ]U[USLNR[" MN[" ZQP" bSLM[U[\NPN[" QPbU[Nb[NLM"SX^QON"VN]"\]OUbRUL^NL"QY"N["]NMU^L+"2NP"NP"bRUNL[SP^QLUMQ[USLNL"S^"MR\[cP\^NPLN"LS^RN"QY"]N"MXURRNPNK"MSV"MNP"\]"[UR"Q["cRUON"VNPN"TNL[PQRN+"(NL"e^N]N"ULOSRONPUL^"QY"MR\[cP\^NPNL" MSV" cU]PQ^MW]NP" U" ]NMU^L" XPSTNMMNL" UL]UbNPNP" NL" ^NLNPNR" iL]PUL^" U"YSPZSR]N["VNRRNV"bRUNL["S^"QPbU[Nb[+"(NLLN"iL]PUL^"M[URRNP"LWN"bPQO"[UR"QPbU[Nb[NLM"NOLN"[UR"Q["bSVV\LUbNPN"]NPNM"cU]PQ^"S^"cNMbPUON"]NL"QPcNd]MVN[S]N"ZOSPU^NLLNV"]NMU^LN[" bQL" N[QcRNPN" MU^+" (N[[N" YSPZSR]" PNXPiMNL[NPNP" NL" ]UM[ULb["bSVV\LUbQ[USLMViMMU^"S^"MXPS^RU^"\]YSP]PUL^"YSP"QPbU[Nb[NL"U"]N"bSVVNL]N"jP+"""4j" cQ^^P\L]" QY" ]N" [S" NVXUPUMbN" M[\]UNP" ULU[UNPNP" QYZQL]RUL^NL" [S" YSPMbNRRU^N"

H]NMU^L" RS^UbbNPH" MSV" bQL" cNMbPUON" S^" \L]NPM[e[[N" ]NLLN" [WXN" ]NMU^L" XPSTNMMNP1"]NL" ]UQbPSLN" S^" ]NL" MWLbPSLN" ]NMU^L" RS^Ub+" (NL" ]UQbPSLN" ]NMU^L" RS^Ub"

CE;""

PNXPiMNL[NPNP" NL" M[P\b[\PK" ZOSP" XPSTNMMNLM" ]NRNRNVNL[NP" YeR^NP" ZULQL]NL" U" N["MNbONL[UNR[" SP^QLUMNPN[" YSPRec+" 2NP" NP" QPcNd]M]NRUL^NL" VNRRNV" QPbU[Nb[" S^"XPSTNM]NMU^LNP"XPiTUM["QY^PiLMN[K"S^"XPS]\b[USLNL"S^"SONPMi[[NRMNL"QY"cP\^NPLNM"ULX\[" NP" MbQPX[" Q]MbUR[" YPQ" QPbU[Nb[NLM" QPcNd]N"VN]" \]OUbRUL^NL" QY" ]NMU^LN[+"<N]"]NL" MWLbPSLN" ]NMU^L" RS^Ub" UL[PS]\TNPNM" U]wNL" SV" N[" [i[[NPN" MQVQPcNd]N" VNRRNV"bRUNL[SP^QLUMQ[USLK" QPbU[Nb[" S^" XPSTNM]NMU^LNP+" =SP" Q[" ]NL" MWLbPSLN" ]NMU^L" RS^Ub"MbQR" b\LLN" Y\L^NPNK" YSPNMRjP" QYZQL]RUL^NL" Q[" ULX\[[N[" YPQ" cP\^NPNL" YSPOQR[NM" MSV"ULMXUPQ[USL" lHXUNTNM" SY" ULMXUPQ[USLHm" MLQPNPN" NL]" MSV" bPQO" [UR" ]N[" QPbU[Nb[SLUMbN"]NMU^L+" (NP" UL]UbNPNM" MjRN]NM" NL" ]UM[ULb[USL" VNRRNV" bRUNL[NLM" ULX\[" MSV"HULYSPVQ[USLNPH" lHXUNTNM" SY" ULYSPVQ[USLHmK" MSV" OU" bNL]NP" ]NV" YPQ" bRQMMUMbN"cW^^NXPS^PQVVNPK" S^" ULX\[" MSV" HULMXUPQ[USLNPH" lHXUNTNM" SY" ULMXUPQ[USLHmK" MSV"MbQcNM"XQPQRRNR["VN]"\]OUbRUL^NL"QY"]N["QPbU[Nb[SLUMbN"]NMU^L+"".YZQL]RUL^NL" YSPNMRjP" Q[" U]wNL" SV" ]NL" XQPQRRNRRN" ]NMU^L" XPSTNMK" ZOSP"

\]OUbRUL^NL" QY" SP^QLUMQ[SPUMb"S^" QPbU[Nb[SLUMb"]NMU^L" YUL]NP" M[N]" MU]NRecNL]N"OUQ"SP^QLUMNPN[" cP\^NPUL]]PQ^NRMNK" S^" ZOSP" ]N" [S" ]NMU^L" XPSTNMMNP" ZNPU^NLLNV" ZQP"V\RU^ZN]" YSP" Q[" XjOUPbN" ZULQL]NLK" ceP" \L]NPMe^NM" W]NPRU^NPN" ^NLLNV" NVXUPUMb"YSPMbLUL^+" /\L" U^NLLNV" XPQb[UMbN" XPSdNb[NP" bQL" OU" RiPNK" ZOSP]QL" ]N" 7(*,-$"bScRUL^NP" SVMi[[NM" U" @65",+5$" bScRUL^NP+" 2NP" NPM[Q[[NM" ]NRN" QY" ]N[" [PQ]U[USLNRRN"cW^^NXPS^PQV"QY"SY[N"\MQVVNLZiL^NL]N"S^"VN^N["bSVXRNbMN"ULX\["YPQ"cP\^NPLN+"#" ]N" [S"XQPQRRNRRN" ]NMU^L"XPSTNMMNP" MbQcNM"]UMMN" ULX\[" ]WLQVUMbK" S^"Xj"]NL"Vj]N"N[QcRNPNM"NL"V\RU^ZN]"YSP"Q["QLONL]N"]NV"U"cN^^N"]NMU^LM+"(N["NP"]S^"UL^NLR\L]N"^UON[K"Q["Mj]QLLN" ULX\[" YQb[UMb"YUL]NP"QLONL]NRMN+"(N["NP"cN[UL^NRMNPLN"ZNPYSPK"]NP"bPiONP"NVXUPUMbN"M[\]UNP"k"S^"W]NPRU^NPN"M[\]UNP"NL]"]N["ZNP"QYMR\[[N]N+"""

' '

CEF""

%#03+42&4-88*(6&

#L" [ZN" [ZNMUMK" #" N`XRSPN" [ZN" TSLM[P\T[USL" SY" V\[\QR" RULbM" cN[aNNL" [aS" ]NMU^L"XPSTNMMNM" [ZQ[" ZQON" [PQ]U[USLQRRW" cNNL" TSLMU]NPN]" MNXQPQ[N]" QL]" MNh\NL[UQRRW"SP^QLU_N]1" [ZN" SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMNM+"%ZN" ^NLNPQR"cQTb^PS\L]" YSP" [ZN" M[\]W" UM" [ZN" ULTPNQMUL^" UL[NPNM[" UL" MXQTN"QL]"QPTZU[NT[\PN" QM" Q"XS[NL[UQR" M[PQ[N^UT" ONZUTRN" [ZQ[" ZQM" NM[QcRUMZN]"aU[ZUL" TSL[NVXSPQPW"VQLQ^NVNL["]\PUL^" PNTNL[" WNQPM+" 6TZSRQPM" aU[ZUL" SP^QLU_Q[USL" M[\]UNM" MNNV" [S" MZQPN" [ZUM"UL[NPNM[+"2SaNONPK"SLRW"YNa"PNMNQPTZ"TSL[PUc\[USLM"QPN"cQMN]"SL"NVXUPUTQR"M[\]UNM+"<W"QMXUPQ[USL"aU[Z"[ZN"[ZNMUM"UM"[S"TSL[PUc\[N"[S"YURR"[ZUM"^QX+"""""#L" SP]NP" [S" N`XRSPN" [ZN" TSLM[P\T[USL" SY" M\TZ" V\[\QR" RULbM" cN[aNNL" [ZN"

SP^QLU_Q[USLQR" QL]" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMNMK" SP^QLU_N]" NL]" \MNP"XQP[UTUXQ[USL"ZQM"cNNL"[ZN"M[\]WHM"XPUVQPW"PNMNQPTZ"ScdNT[+"<W"NVXUPUTQR"XSUL["SY"]NXQP[\PN" ZQM" cNNL" [ZN" NM[QcRUMZVNL[" SY" [aS" TSL[NVXSPQPW" SYYUTN" c\UR]UL^MK" UL"aZUTZ" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMM" ZQM" ULOSRON]" Q" ZU^Z" RNONR" SY" NL]" \MNP"XQP[UTUXQ[USL+"2NPNK"NL]"\MNP"PNXPNMNL[Q[UONM"aNPN"ULOSRON]"UL"Q"L\VcNP"SY"XRQLLN]"QT[UOU[UNM"[ZQ["UL"]UYYNPNL["aQWM"N`[NL]N]"[ZN"[PQ]U[USLQR"TSL[QT["cN[aNNL"TRUNL["QL]"QPTZU[NT[+" %ZN" QT[UOU[UNM" ULOSRON]" aSPbMZSXMK" UL[NPOUNaM" QL]" ]UQRS^\N" VNN[UL^MK"XPNXQPN]"QL]"YQTURU[Q[N]"cW"MSDTQRRN]"!/0'1$++%&$+,-.$0+2K"Q"XRQWNP"[ZQ["MNNVM"LNa"[S" [ZN"QPNQ"SY" QPTZU[NT[\PQR" ]NMU^L"QL]" [S" [ZN"c\UR]UL^" MNT[SP" UL"^NLNPQR+"%ZPS\^Z"TSL[UL\S\M" NL]" \MNP" XQP[UTUXQ[USL" ]\PUL^" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" cS[Z"XPSdNT[M" QUVN]" [S" NM[QcRUMZ" Q" TRSMNP" TSLLNT[USL" [S" [ZN" TSLT\PPNL[" SP^QLU_Q[USLQR"]NMU^L" XPSTNMM+"%ZN" [aS"XPSdNT[M"aNPN"(QLUMZ"V\LUTUXQRU[W"2URRNPe]HM" LNa" [SaL"ZQRR" QL]" (QLUMZ" QPTZU[NT[\PN" YUPVK" .PbU[NVQHM" LNa" SYYUTN" ]SVUTURN" UL" fPNM[Q]K"*SXNLZQ^NL+""#L" [ZN" M[\]WK" #" ZQON" Q[[NVX[N]" [S" ]UMTRSMN" MSVN" SY" [ZN" PNM\R[M" [ZQ[" SP^QLU_N]"

XQP[UTUXQ[USL" TQL" UL]\TNK" aU[Z" PN^QP]M" [S" [ZN" ]NONRSXVNL[" SY" SP^QLU_Q[USLQR" QL]"QPTZU[NT[\PQR"]NMU^L+"%ZN"[ZNMUM"URR\M[PQ[NM"OQPUS\M"NYYSP[M"[S"RULb"[ZNMN"M\cM[QL[UQRRW"]UYYNPNL[" ]NMU^L" XPSTNMMNMK" QL]" ]UMT\MMNM"aZW" [ZN" NM[QcRUMZVNL[" SY" M\TZ" RULbM" UM"]UYYUT\R[+" #" U]NL[UYW"Q"L\VcNP"SY" nTSLLNT[USLMH"cN[aNNL" [ZN" [aS"]NMU^L"XPSTNMMNMK"

CEB""

nTSLLNT[USLMH"[ZPS\^Z"aZUTZ"TNL[PQR"UVXRUTQ[USLM"MNNV"[S"NVNP^N+"%aS"[ZNSPN[UTQR"[PQ]U[USLM"ZQON"XQP[UT\RQPRW"ULMXUPN]"VN"UL"[ZUM"aSPb1"MNLMNVQbUL^"UL"SP^QLU_Q[USLM"QL]"QT[SPDLN[aSPb"[ZNSPW+""-QMN]"SL"[ZN"ZU^Z"RNONR"SY"\L[PQ]U[USLQR"TSRRQcSPQ[USLM"[ZQ[" [SSb"XRQTN" UL" [ZN"NVXUPUTQR"XPSdNT[MK" [ZN"XQP[UTUXQL[MH"]UYYNPNLTNM" UL" RQL^\Q^N"QL]"VN[ZS]SRS^UTQR"QXXPSQTZNM"ZQON"PNXPNMNL[N]"Q"MU^LUYUTQL["TZQRRNL^N+"2NPNK"[ZN"MNLMNVQbUL^" RU[NPQ[\PN"ZQM"cNNL"ZNRXY\RK" UL"SP]NP" [S"N`XRQUL"QL]"]UMT\MM" [ZN"]Q[Q+".M"cS[Z"XPSdNT[M"QRMS"ULOSRON]"Q"ZU^Z"RNONR"SY"VQ[NPUQR"ScdNT[M1"MbN[TZNMK"]PQaUL^MK"]ST\VNL[MK" QL]" VSPNK" QT[SPDLN[aSPb" [ZNSPW" ZQM" TSL[PUc\[N]" aU[Z" Q" L\VcNP" SY"[ZNSPN[UTQR" TSLTNX[M" [ZQ[" ZQM" ZNRXN]" VN" QLQRWMNM" QL]" ]UMT\MM" [ZN" XPS]\TN]"NVXUPUTQR"VQ[NPUQR+""""7U[Z" PN^QP]M" [S" [ZN" SP^QLU_Q[USLQR" ]NMU^L" XPSTNMMK" YUL]UL^M" MZSa" [ZQ[" [ZN"

XQP[UT\RQP" YST\M" SL" [ZN" MXQ[UQR" SP^QLU_Q[USL" SY" aSPb" XPSTNMMNM" TQL" SYYNP" QL"SXXSP[\LU[W" [S" ]UMT\MMK" ]NRULNQ[N" QL]" [ZNPNcW" TZQRRNL^N" [ZN" XQP[UTUXQL[MH"\L]NPM[QL]UL^" SY" TSVXRN`" SP^QLU_Q[USLQR" TSL]U[USLM+" #L" [ZNMN" TSL[UL\S\M"TSLONPMQ[USLM" QcS\[" [ZN" aSPbHM" MXQ[UQR" SP^QLU_Q[USLK" Y\L]QVNL[QR" ]UMQ^PNNVNL[M"aU[Z" PN^QP]M" [S" [ZN" aSPb" M[P\T[\PN" MSVNZSa" QXXNQPN]" [S" M[QcURU_N" QVSL^" [ZN"XQP[UTUXQL[M+" 2NPNK" TSLONPMQ[USLM" QcS\[" MXQTN" MNNV" [S" N`XQL]" [ZN" XQP[UTUXQL[MH"^NLNPQR" QcURU[W" [S" TSVXPNZNL]" MSVN" SY" [ZN" TSVXRN`U[W" [ZQ[" aSPb" UL" Q" VS]NPL"SP^QLU_Q[USL" ULOSRONM+" 'P^QLU_N]" NL]" \MNP" XQP[UTUXQ[USL" UL" QPTZU[NT[\PQR" ]NMU^L"XPSTNMMNM" TQL" [Z\M" cN" MQU]" [S" SYYNP" [ZN" TRUNL[" QL" SXXSP[\LU[W" [S" NM[QcRUMZ" QL"SP^QLU_Q[USLK"QcRN"[S"TSL[QUL"U[M"SaL"TSVXRN`U[W+""".M" YSP" [ZN" QPTZU[NT[\PQR" ]NMU^L" XPSTNMMK" [ZN" [ZNMUM" URR\M[PQ[NM" [ZN" XPNMM\PN" [ZQ["

[ZQ[" [ZN" QPTZU[NT[" XPSYNMMUSL" T\PPNL[RW" MNNVM" [S" cN" TSLYPSL[N]" aU[Z+" %S]QWK" QL"ULTPNQMUL^" L\VcNP" SY" XRQWNPM" QPN" ULOSRON]" UL" [ZN" XPSTNMM" [ZQ[" ZQM" [PQ]U[USLQRRW"PNXPNMNL[N]" [ZN" QPTZU[NT[HM" PNMXSLMUcURU[W" UL" [ZN" NM[QcRUMZVNL[" SY" Q" lc\UR]UL^m"]NMU^L+"2NPNK"[ZN"TRUNL["SP^QLU_Q[USL"QL]"[ZN"NL]"\MNP"PNXPNMNL[Q[UONM"QPN"c\["Q"YNa"SY" [ZN" XRQWNPMK" aZS" MNNV" [S" Sc[QUL" Q" VSPN" TNL[PQR" XSMU[USL+" %ZN" ULTPNQMN]"ULOSRONVNL["SY"[ZN"NL]"\MNP"QM"Q"TSL[PUc\[SP"[S"[ZN"]NMU^L"]NONRSXVNL["UL]UTQ[NM"Q"^NLNPQR" TZQL^N" UL" [ZN" PNRQ[USLMZUX" cN[aNNL" TRUNL[" QL]" QPTZU[NT[+" %ZUM" TZQL^N"UVXRUNM"Q"]UM[ULT["TSVV\LUTQ[USLQR"QL]"RUL^\UM[UT"TZQRRNL^N"YSP"[ZN"QPTZU[NT["UL"[ZN"YSP[ZTSVUL^"WNQPM+"""-QMN]" SL" [ZN" [aS" NVXUPUTQR" M[\]UNMK" [ZN" [ZNMUM" M\^^NM[M" [aS" ]UYYNPNL[" n]NMU^L"

RS^UTMH"UL"SP]NP"[S"]NMTPUcN"QL]"M\XXSP["]NMU^L"XPSdNT[M"[ZQ["ULOSRON"Q"ZU^Z"RNONR"SY"

CE?""

SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USL1"[ZN"]UQTZPSLUT"QL]"[ZN"MWLTZPSLUT"]NMU^L"RS^UTM+"%ZN"]UQTZPSLUT"]NMU^L"RS^UT"PNXPNMNL[M"QL"QPPQL^NVNL[K"UL"aZUTZ"[ZN"]UYYNPNL["XQP[M"SY"[ZN"]NMU^L"XPSTNMM"QPN"SP^QLU_N]"UL"Q"MNh\NL[UQR"M[P\T[\PN+"2NPNK"[ZN"]UOUMUSL"SY"RQcSP" cN[aNNL" QPTZU[NT[" QL]" XPSTNMM" ]NMU^LNP" UM" ]UM[ULT[RW" ]NYULN]K" QL]" [ZN"XPS]\T[USL" QL]" [PQLMRQ[USL" SY" [ZN" NL]" \MNP" ULX\[" [QbNM" XRQTN" MNXQPQ[N" YPSV" [ZN"QPTZU[NT[HM"TPNQ[UON"]NMU^L"XPSTNMM+"%ZN"MWLTZPSLUT"]NMU^L"RS^UTK"SL"[ZN"S[ZNP"ZQL]K"UL[PS]\TNM" [ZN"LS[USL"SY" TRSMNP" TSL[QT["cN[aNNL"TRUNL["SP^QLU_Q[USLK" QPTZU[NT[" QL]"XPSTNMM"]NMU^LNP+"#L"SP]NP"YSP"[ZN"RQ[[NP"RS^UT"[S"aSPbK"ZSaNONPK"U["UM"M\^^NM[N]"[ZQ["[ZN"NL]"\MNP"ULX\["UM"VQLQ^N]"QM"nULMXUPQ[USLMH"PQ[ZNP"[ZQL"QM"PN^\RQP"PNh\UPNVNL[M"[S" ^\U]N" [ZN" ]NONRSXVNL[" SY" [ZN" QPTZU[NT[\PQR" ]NMU^L+" #L" XPSdNT[M" [ZQ[" ULOSRON"SP^QLU_N]"NL]"\MNP"XQP[UTUXQ[USLK"[ZN"[ZNMUM"XPSXSMNM"Q"^NLNPQR"]UM[ULT[USL"cN[aNNL"TRUNL[" PNh\UPNVNL[M" QM" nXUNTNM" SY" ULYSPVQ[USLH" QL]" nXUNTNM" SY" ULMXUPQ[USLH+" %ZN"nXUNTNM"SY"ULYSPVQ[USLH"PNXPNMNL["[ZN"[WXN"SY"ULX\["aN"bLSa"YPSV"[ZN"TRQMMUTQR"cPUNY"SY" PNh\UPNVNL[K"aZURN" [ZN" nXUNTNM" SY" ULMXUPQ[USLH" PQ[ZNP" PNXPNMNL[" QL" ULX\[" [ZQ[" UM"XPS]\TN]"cW"[ZN"NL]"\MNPMK"XQPQRRNR"[S"[ZN"NVNP^NLTN"SY"[ZN"QPTZU[NT[\PQR"]NMU^L+""%ZN" [ZNMUM" UL]UTQ[NM" [ZQ[" [ZN"LS[USL"SY"Q" XQPQRRNR" ]NMU^L"XPSTNMMK" UL"aZUTZ" [ZN"

NVNP^NLTN"SY"[ZN"SP^QLU_Q[USLQR"QL]"[ZN"QPTZU[NT[\PQR"]NMU^L"[QbN"XRQTN"UL"Q"XQPQRRNR"XPSTNMM" [ZQ[" ULOSRONM" SP^QLU_N]" NL]" \MNP" XQP[UTUXQ[USLK" LNN]M" Y\P[ZNP" N`XRSPQ[USL"[ZPS\^Z" NVXUPUTQR" PNMNQPTZ+" 'LRW" XPQT[UTQR" XPSdNT[M" TQL" ]UMTRSMN" ZSa" /'"$.",6*"nTSLLNT[USLMH" TQL" [\PL" UL[S" 61"(6*" nTSLLNT[USLMH+" 2NPNK" Q" XQP[" SY" [ZN" [PQ]U[USLQR"cPUNY" SY" PNh\UPNVNL[M" UM" PNXRQTN]" cW" ULX\[" YPSV" [ZN" NL]" \MNPM" [ZQ[" UM" SY[NL"ULTSZNPNL["QL]"TSVXRN`+"#L"[ZNMN"XQPQRRNR"XPSTNMMNMK"[ZN"ULX\["UM"XPS]\TN]"[ZPS\^Z"]WLQVUT" QL]" TSLT\PPNL[" QT[UOU[UNM" [ZQ[" VQbN" U[" XSMMUcRN" [S" \MN" [ZNV" UL" cS[Z"]NMU^LM+"2SaNONPK"U["TQLLS["cN"[QbNL"YSP"^PQL[N]"[ZQ["[ZNMN"ULX\["TSVN"UL[S"\MN+"#["UM"[ZN"TSL]U[USLM"YSP"M\TZ"\MQ^N"[ZQ["LNN]"[S"cN"M[\]UN]"NVXUPUTQRRW+""

TITLER I PH.D.SERIEN:

20041. Martin Grieger Internet-based Electronic Marketplaces and Supply Chain Management

2. Thomas Basbøll LIKENESS A Philosophical Investigation

3. Morten Knudsen Beslutningens vaklen En systemteoretisk analyse of mo-

derniseringen af et amtskommunalt sundhedsvæsen 1980-2000

4. Lars Bo Jeppesen Organizing Consumer Innovation A product development strategy that

is based on online communities and allows some firms to benefit from a distributed process of innovation by consumers

5. Barbara Dragsted SEGMENTATION IN TRANSLATION

AND TRANSLATION MEMORY SYSTEMS An empirical investigation of cognitive segmentation and effects of integra-

ting a TM system into the translation process

6. Jeanet Hardis Sociale partnerskaber Et socialkonstruktivistisk casestudie af partnerskabsaktørers virkeligheds-

opfattelse mellem identitet og legitimitet

7. Henriette Hallberg Thygesen System Dynamics in Action

8. Carsten Mejer Plath Strategisk Økonomistyring

9. Annemette Kjærgaard Knowledge Management as Internal Corporate Venturing

– a Field Study of the Rise and Fall of a Bottom-Up Process

10. Knut Arne Hovdal De profesjonelle i endring Norsk ph.d., ej til salg gennem Samfundslitteratur

11. Søren Jeppesen Environmental Practices and Greening Strategies in Small Manufacturing Enterprises in South Africa – A Critical Realist Approach

12. Lars Frode Frederiksen Industriel forskningsledelse – på sporet af mønstre og samarbejde

i danske forskningsintensive virksom-heder

13. Martin Jes Iversen The Governance of GN Great Nordic – in an age of strategic and structural transitions 1939-1988

14. Lars Pynt Andersen The Rhetorical Strategies of Danish TV Advertising A study of the first fifteen years with special emphasis on genre and irony

15. Jakob Rasmussen Business Perspectives on E-learning

16. Sof Thrane The Social and Economic Dynamics of Networks – a Weberian Analysis of Three Formalised Horizontal Networks

17. Lene Nielsen Engaging Personas and Narrative Scenarios – a study on how a user- centered approach influenced the perception of the design process in

the e-business group at AstraZeneca

18. S.J Valstad Organisationsidentitet Norsk ph.d., ej til salg gennem Samfundslitteratur

TITLER I PH.D.SERIEN:

20041. Martin Grieger Internet-based Electronic Marketplaces and Supply Chain Management

2. Thomas Basbøll LIKENESS A Philosophical Investigation

3. Morten Knudsen Beslutningens vaklen En systemteoretisk analyse of mo-

derniseringen af et amtskommunalt sundhedsvæsen 1980-2000

4. Lars Bo Jeppesen Organizing Consumer Innovation A product development strategy that

is based on online communities and allows some firms to benefit from a distributed process of innovation by consumers

5. Barbara Dragsted SEGMENTATION IN TRANSLATION

AND TRANSLATION MEMORY SYSTEMS An empirical investigation of cognitive segmentation and effects of integra-

ting a TM system into the translation process

6. Jeanet Hardis Sociale partnerskaber Et socialkonstruktivistisk casestudie af partnerskabsaktørers virkeligheds-

opfattelse mellem identitet og legitimitet

7. Henriette Hallberg Thygesen System Dynamics in Action

8. Carsten Mejer Plath Strategisk Økonomistyring

9. Annemette Kjærgaard Knowledge Management as Internal Corporate Venturing

– a Field Study of the Rise and Fall of a Bottom-Up Process

10. Knut Arne Hovdal De profesjonelle i endring Norsk ph.d., ej til salg gennem Samfundslitteratur

11. Søren Jeppesen Environmental Practices and Greening Strategies in Small Manufacturing Enterprises in South Africa – A Critical Realist Approach

12. Lars Frode Frederiksen Industriel forskningsledelse – på sporet af mønstre og samarbejde

i danske forskningsintensive virksom-heder

13. Martin Jes Iversen The Governance of GN Great Nordic – in an age of strategic and structural transitions 1939-1988

14. Lars Pynt Andersen The Rhetorical Strategies of Danish TV Advertising A study of the first fifteen years with special emphasis on genre and irony

15. Jakob Rasmussen Business Perspectives on E-learning

16. Sof Thrane The Social and Economic Dynamics of Networks – a Weberian Analysis of Three Formalised Horizontal Networks

17. Lene Nielsen Engaging Personas and Narrative Scenarios – a study on how a user- centered approach influenced the perception of the design process in

the e-business group at AstraZeneca

18. S.J Valstad Organisationsidentitet Norsk ph.d., ej til salg gennem Samfundslitteratur

19. Thomas Lyse Hansen Six Essays on Pricing and Weather risk

in Energy Markets

20. Sabine Madsen Emerging Methods – An Interpretive Study of ISD Methods in Practice

21. Evis Sinani The Impact of Foreign Direct Inve-

stment on Efficiency, Productivity Growth and Trade: An Empirical Inve-stigation

22. Bent Meier Sørensen Making Events Work Or, How to Multiply Your Crisis

23. Pernille Schnoor Brand Ethos Om troværdige brand- og virksomhedsidentiteter i et retorisk og

diskursteoretisk perspektiv

24. Sidsel Fabech Von welchem Österreich ist hier die

Rede? Diskursive forhandlinger og magt-

kampe mellem rivaliserende nationale identitetskonstruktioner i østrigske pressediskurser

25. Klavs Odgaard Christensen Sprogpolitik og identitetsdannelse i flersprogede forbundsstater Et komparativt studie af Schweiz og Canada

26. Dana B. Minbaeva Human Resource Practices and Knowledge Transfer in Multinational Corporations

27. Holger Højlund Markedets politiske fornuft Et studie af velfærdens organisering i perioden 1990-2003

28. Christine Mølgaard Frandsen A.s erfaring Om mellemværendets praktik i en

transformation af mennesket og subjektiviteten

29. Sine Nørholm Just The Constitution of Meaning – A Meaningful Constitution? Legitimacy, identity, and public opinion

in the debate on the future of Europe

20051. Claus J. Varnes Managing product innovation through rules – The role of formal and structu-

red methods in product development

2. Helle Hedegaard Hein Mellem konflikt og konsensus – Dialogudvikling på hospitalsklinikker

3. Axel Rosenø Customer Value Driven Product Inno-

vation – A Study of Market Learning in New Product Development

4. Søren Buhl Pedersen Making space An outline of place branding

5. Camilla Funck Ellehave Differences that Matter An analysis of practices of gender and organizing in contemporary work-

places

6. Rigmor Madeleine Lond Styring af kommunale forvaltninger

7. Mette Aagaard Andreassen Supply Chain versus Supply Chain Benchmarking as a Means to Managing Supply Chains

8. Caroline Aggestam-Pontoppidan From an idea to a standard The UN and the global governance of accountants’ competence

9. Norsk ph.d.

10. Vivienne Heng Ker-ni An Experimental Field Study on the

Effectiveness of Grocer Media Advertising Measuring Ad Recall and Recognition, Purchase Intentions and Short-Term

Sales

11. Allan Mortensen Essays on the Pricing of Corporate

Bonds and Credit Derivatives

12. Remo Stefano Chiari Figure che fanno conoscere Itinerario sull’idea del valore cognitivo

e espressivo della metafora e di altri tropi da Aristotele e da Vico fino al cognitivismo contemporaneo

13. Anders McIlquham-Schmidt Strategic Planning and Corporate Performance An integrative research review and a meta-analysis of the strategic planning and corporate performance literature from 1956 to 2003

14. Jens Geersbro The TDF – PMI Case Making Sense of the Dynamics of Business Relationships and Networks

15 Mette Andersen Corporate Social Responsibility in Global Supply Chains Understanding the uniqueness of firm behaviour

16. Eva Boxenbaum Institutional Genesis: Micro – Dynamic Foundations of Institutional Change

17. Peter Lund-Thomsen Capacity Development, Environmental Justice NGOs, and Governance: The

Case of South Africa

18. Signe Jarlov Konstruktioner af offentlig ledelse

19. Lars Stæhr Jensen Vocabulary Knowledge and Listening Comprehension in English as a Foreign Language

An empirical study employing data elicited from Danish EFL learners

20. Christian Nielsen Essays on Business Reporting Production and consumption of

strategic information in the market for information

21. Marianne Thejls Fischer Egos and Ethics of Management Consultants

22. Annie Bekke Kjær Performance management i Proces- innovation – belyst i et social-konstruktivistisk perspektiv

23. Suzanne Dee Pedersen GENTAGELSENS METAMORFOSE Om organisering af den kreative gøren

i den kunstneriske arbejdspraksis

24. Benedikte Dorte Rosenbrink Revenue Management Økonomiske, konkurrencemæssige & organisatoriske konsekvenser

25. Thomas Riise Johansen Written Accounts and Verbal Accounts The Danish Case of Accounting and Accountability to Employees

26. Ann Fogelgren-Pedersen The Mobile Internet: Pioneering Users’ Adoption Decisions

27. Birgitte Rasmussen Ledelse i fællesskab – de tillidsvalgtes fornyende rolle

28. Gitte Thit Nielsen Remerger – skabende ledelseskræfter i fusion og opkøb

29. Carmine Gioia A MICROECONOMETRIC ANALYSIS OF MERGERS AND ACQUISITIONS

Effectiveness of Grocer Media Advertising Measuring Ad Recall and Recognition, Purchase Intentions and Short-Term

Sales

11. Allan Mortensen Essays on the Pricing of Corporate

Bonds and Credit Derivatives

12. Remo Stefano Chiari Figure che fanno conoscere Itinerario sull’idea del valore cognitivo

e espressivo della metafora e di altri tropi da Aristotele e da Vico fino al cognitivismo contemporaneo

13. Anders McIlquham-Schmidt Strategic Planning and Corporate Performance An integrative research review and a meta-analysis of the strategic planning and corporate performance literature from 1956 to 2003

14. Jens Geersbro The TDF – PMI Case Making Sense of the Dynamics of Business Relationships and Networks

15 Mette Andersen Corporate Social Responsibility in Global Supply Chains Understanding the uniqueness of firm behaviour

16. Eva Boxenbaum Institutional Genesis: Micro – Dynamic Foundations of Institutional Change

17. Peter Lund-Thomsen Capacity Development, Environmental Justice NGOs, and Governance: The

Case of South Africa

18. Signe Jarlov Konstruktioner af offentlig ledelse

19. Lars Stæhr Jensen Vocabulary Knowledge and Listening Comprehension in English as a Foreign Language

An empirical study employing data elicited from Danish EFL learners

20. Christian Nielsen Essays on Business Reporting Production and consumption of

strategic information in the market for information

21. Marianne Thejls Fischer Egos and Ethics of Management Consultants

22. Annie Bekke Kjær Performance management i Proces- innovation – belyst i et social-konstruktivistisk perspektiv

23. Suzanne Dee Pedersen GENTAGELSENS METAMORFOSE Om organisering af den kreative gøren

i den kunstneriske arbejdspraksis

24. Benedikte Dorte Rosenbrink Revenue Management Økonomiske, konkurrencemæssige & organisatoriske konsekvenser

25. Thomas Riise Johansen Written Accounts and Verbal Accounts The Danish Case of Accounting and Accountability to Employees

26. Ann Fogelgren-Pedersen The Mobile Internet: Pioneering Users’ Adoption Decisions

27. Birgitte Rasmussen Ledelse i fællesskab – de tillidsvalgtes fornyende rolle

28. Gitte Thit Nielsen Remerger – skabende ledelseskræfter i fusion og opkøb

29. Carmine Gioia A MICROECONOMETRIC ANALYSIS OF MERGERS AND ACQUISITIONS

30. Ole Hinz Den effektive forandringsleder: pilot, pædagog eller politiker? Et studie i arbejdslederes meningstil-

skrivninger i forbindelse med vellykket gennemførelse af ledelsesinitierede forandringsprojekter

31. Kjell-Åge Gotvassli Et praksisbasert perspektiv på dynami-

ske læringsnettverk i toppidretten Norsk ph.d., ej til salg gennem Samfundslitteratur

32. Henriette Langstrup Nielsen Linking Healthcare An inquiry into the changing perfor- mances of web-based technology for asthma monitoring

33. Karin Tweddell Levinsen Virtuel Uddannelsespraksis Master i IKT og Læring – et casestudie

i hvordan proaktiv proceshåndtering kan forbedre praksis i virtuelle lærings-miljøer

34. Anika Liversage Finding a Path Labour Market Life Stories of Immigrant Professionals

35. Kasper Elmquist Jørgensen Studier i samspillet mellem stat og

erhvervsliv i Danmark under 1. verdenskrig

36. Finn Janning A DIFFERENT STORY Seduction, Conquest and Discovery

37. Patricia Ann Plackett Strategic Management of the Radical Innovation Process Leveraging Social Capital for Market Uncertainty Management

20061. Christian Vintergaard Early Phases of Corporate Venturing

2. Niels Rom-Poulsen Essays in Computational Finance

3. Tina Brandt Husman Organisational Capabilities, Competitive Advantage & Project-

Based Organisations The Case of Advertising and Creative Good Production

4. Mette Rosenkrands Johansen Practice at the top – how top managers mobilise and use non-financial performance measures

5. Eva Parum Corporate governance som strategisk kommunikations- og ledelsesværktøj

6. Susan Aagaard Petersen Culture’s Influence on Performance Management: The Case of a Danish Company in China

7. Thomas Nicolai Pedersen The Discursive Constitution of Organi-

zational Governance – Between unity and differentiation

The Case of the governance of environmental risks by World Bank

environmental staff

8. Cynthia Selin Volatile Visions: Transactons in Anticipatory Knowledge

9. Jesper Banghøj Financial Accounting Information and

Compensation in Danish Companies

10. Mikkel Lucas Overby Strategic Alliances in Emerging High-

Tech Markets: What’s the Difference and does it Matter?

11. Tine Aage External Information Acquisition of Industrial Districts and the Impact of Different Knowledge Creation Dimen-

sions

A case study of the Fashion and Design Branch of the Industrial District of Montebelluna, NE Italy

12. Mikkel Flyverbom Making the Global Information Society Governable On the Governmentality of Multi-

Stakeholder Networks

13. Anette Grønning Personen bag Tilstedevær i e-mail som inter-

aktionsform mellem kunde og med-arbejder i dansk forsikringskontekst

14. Jørn Helder One Company – One Language? The NN-case

15. Lars Bjerregaard Mikkelsen Differing perceptions of customer

value Development and application of a tool

for mapping perceptions of customer value at both ends of customer-suppli-er dyads in industrial markets

16. Lise Granerud Exploring Learning Technological learning within small manufacturers in South Africa

17. Esben Rahbek Pedersen Between Hopes and Realities: Reflections on the Promises and Practices of Corporate Social Responsibility (CSR)

18. Ramona Samson The Cultural Integration Model and European Transformation. The Case of Romania

20071. Jakob Vestergaard Discipline in The Global Economy Panopticism and the Post-Washington Consensus

2. Heidi Lund Hansen Spaces for learning and working A qualitative study of change of work, management, vehicles of power and social practices in open offices

3. Sudhanshu Rai Exploring the internal dynamics of

software development teams during user analysis

A tension enabled Institutionalization Model; ”Where process becomes the objective”

4. Norsk ph.d. Ej til salg gennem Samfundslitteratur

5. Serden Ozcan EXPLORING HETEROGENEITY IN ORGANIZATIONAL ACTIONS AND OUTCOMES A Behavioural Perspective

6. Kim Sundtoft Hald Inter-organizational Performance Measurement and Management in

Action – An Ethnography on the Construction

of Management, Identity and Relationships

7. Tobias Lindeberg Evaluative Technologies Quality and the Multiplicity of Performance

8. Merete Wedell-Wedellsborg Den globale soldat Identitetsdannelse og identitetsledelse

i multinationale militære organisatio-ner

9. Lars Frederiksen Open Innovation Business Models Innovation in firm-hosted online user communities and inter-firm project ventures in the music industry – A collection of essays

10. Jonas Gabrielsen Retorisk toposlære – fra statisk ’sted’

til persuasiv aktivitet

A case study of the Fashion and Design Branch of the Industrial District of Montebelluna, NE Italy

12. Mikkel Flyverbom Making the Global Information Society Governable On the Governmentality of Multi-

Stakeholder Networks

13. Anette Grønning Personen bag Tilstedevær i e-mail som inter-

aktionsform mellem kunde og med-arbejder i dansk forsikringskontekst

14. Jørn Helder One Company – One Language? The NN-case

15. Lars Bjerregaard Mikkelsen Differing perceptions of customer

value Development and application of a tool

for mapping perceptions of customer value at both ends of customer-suppli-er dyads in industrial markets

16. Lise Granerud Exploring Learning Technological learning within small manufacturers in South Africa

17. Esben Rahbek Pedersen Between Hopes and Realities: Reflections on the Promises and Practices of Corporate Social Responsibility (CSR)

18. Ramona Samson The Cultural Integration Model and European Transformation. The Case of Romania

20071. Jakob Vestergaard Discipline in The Global Economy Panopticism and the Post-Washington Consensus

2. Heidi Lund Hansen Spaces for learning and working A qualitative study of change of work, management, vehicles of power and social practices in open offices

3. Sudhanshu Rai Exploring the internal dynamics of

software development teams during user analysis

A tension enabled Institutionalization Model; ”Where process becomes the objective”

4. Norsk ph.d. Ej til salg gennem Samfundslitteratur

5. Serden Ozcan EXPLORING HETEROGENEITY IN ORGANIZATIONAL ACTIONS AND OUTCOMES A Behavioural Perspective

6. Kim Sundtoft Hald Inter-organizational Performance Measurement and Management in

Action – An Ethnography on the Construction

of Management, Identity and Relationships

7. Tobias Lindeberg Evaluative Technologies Quality and the Multiplicity of Performance

8. Merete Wedell-Wedellsborg Den globale soldat Identitetsdannelse og identitetsledelse

i multinationale militære organisatio-ner

9. Lars Frederiksen Open Innovation Business Models Innovation in firm-hosted online user communities and inter-firm project ventures in the music industry – A collection of essays

10. Jonas Gabrielsen Retorisk toposlære – fra statisk ’sted’

til persuasiv aktivitet

11. Christian Moldt-Jørgensen Fra meningsløs til meningsfuld

evaluering. Anvendelsen af studentertilfredsheds- målinger på de korte og mellemlange

videregående uddannelser set fra et psykodynamisk systemperspektiv

12. Ping Gao Extending the application of actor-network theory Cases of innovation in the tele- communications industry

13. Peter Mejlby Frihed og fængsel, en del af den

samme drøm? Et phronetisk baseret casestudie af frigørelsens og kontrollens sam-

eksistens i værdibaseret ledelse! 14. Kristina Birch Statistical Modelling in Marketing

15. Signe Poulsen Sense and sensibility: The language of emotional appeals in

insurance marketing

16. Anders Bjerre Trolle Essays on derivatives pricing and dyna-

mic asset allocation

17. Peter Feldhütter Empirical Studies of Bond and Credit

Markets

18. Jens Henrik Eggert Christensen Default and Recovery Risk Modeling

and Estimation

19. Maria Theresa Larsen Academic Enterprise: A New Mission

for Universities or a Contradiction in Terms?

Four papers on the long-term impli-cations of increasing industry involve-ment and commercialization in acade-mia

20. Morten Wellendorf Postimplementering af teknologi i den

offentlige forvaltning Analyser af en organisations konti-

nuerlige arbejde med informations-teknologi

21. Ekaterina Mhaanna Concept Relations for Terminological

Process Analysis

22. Stefan Ring Thorbjørnsen Forsvaret i forandring Et studie i officerers kapabiliteter un-

der påvirkning af omverdenens foran-dringspres mod øget styring og læring

23. Christa Breum Amhøj Det selvskabte medlemskab om ma-

nagementstaten, dens styringstekno-logier og indbyggere

24. Karoline Bromose Between Technological Turbulence and

Operational Stability – An empirical case study of corporate

venturing in TDC

25. Susanne Justesen Navigating the Paradoxes of Diversity

in Innovation Practice – A Longitudinal study of six very different innovation processes – in

practice

26. Luise Noring Henler Conceptualising successful supply

chain partnerships – Viewing supply chain partnerships

from an organisational culture per-spective

27. Mark Mau Kampen om telefonen Det danske telefonvæsen under den

tyske besættelse 1940-45

28. Jakob Halskov The semiautomatic expansion of

existing terminological ontologies using knowledge patterns discovered

on the WWW – an implementation and evaluation

29. Gergana Koleva European Policy Instruments Beyond

Networks and Structure: The Innova-tive Medicines Initiative

30. Christian Geisler Asmussen Global Strategy and International Diversity: A Double-Edged Sword?

31. Christina Holm-Petersen Stolthed og fordom Kultur- og identitetsarbejde ved ska-

belsen af en ny sengeafdeling gennem fusion

32. Hans Peter Olsen Hybrid Governance of Standardized

States Causes and Contours of the Global

Regulation of Government Auditing

33. Lars Bøge Sørensen Risk Management in the Supply Chain

34. Peter Aagaard Det unikkes dynamikker De institutionelle mulighedsbetingel-

ser bag den individuelle udforskning i professionelt og frivilligt arbejde

35. Yun Mi Antorini Brand Community Innovation An Intrinsic Case Study of the Adult

Fans of LEGO Community

36. Joachim Lynggaard Boll Labor Related Corporate Social Perfor-

mance in Denmark Organizational and Institutional Per-

spectives

20081. Frederik Christian Vinten Essays on Private Equity

2. Jesper Clement Visual Influence of Packaging Design

on In-Store Buying Decisions

3. Marius Brostrøm Kousgaard Tid til kvalitetsmåling? – Studier af indrulleringsprocesser i

forbindelse med introduktionen af kliniske kvalitetsdatabaser i speciallæ-gepraksissektoren

4. Irene Skovgaard Smith Management Consulting in Action Value creation and ambiguity in client-consultant relations

5. Anders Rom Management accounting and inte-

grated information systems How to exploit the potential for ma-

nagement accounting of information technology

6. Marina Candi Aesthetic Design as an Element of Service Innovation in New Technology-

based Firms

7. Morten Schnack Teknologi og tværfaglighed – en analyse af diskussionen omkring indførelse af EPJ på en hospitalsafde-

ling

8. Helene Balslev Clausen Juntos pero no revueltos – un estudio

sobre emigrantes norteamericanos en un pueblo mexicano

9. Lise Justesen Kunsten at skrive revisionsrapporter. En beretning om forvaltningsrevisio-

nens beretninger

10. Michael E. Hansen The politics of corporate responsibility: CSR and the governance of child labor

and core labor rights in the 1990s

11. Anne Roepstorff Holdning for handling – en etnologisk

undersøgelse af Virksomheders Sociale Ansvar/CSR

on the WWW – an implementation and evaluation

29. Gergana Koleva European Policy Instruments Beyond

Networks and Structure: The Innova-tive Medicines Initiative

30. Christian Geisler Asmussen Global Strategy and International Diversity: A Double-Edged Sword?

31. Christina Holm-Petersen Stolthed og fordom Kultur- og identitetsarbejde ved ska-

belsen af en ny sengeafdeling gennem fusion

32. Hans Peter Olsen Hybrid Governance of Standardized

States Causes and Contours of the Global

Regulation of Government Auditing

33. Lars Bøge Sørensen Risk Management in the Supply Chain

34. Peter Aagaard Det unikkes dynamikker De institutionelle mulighedsbetingel-

ser bag den individuelle udforskning i professionelt og frivilligt arbejde

35. Yun Mi Antorini Brand Community Innovation An Intrinsic Case Study of the Adult

Fans of LEGO Community

36. Joachim Lynggaard Boll Labor Related Corporate Social Perfor-

mance in Denmark Organizational and Institutional Per-

spectives

20081. Frederik Christian Vinten Essays on Private Equity

2. Jesper Clement Visual Influence of Packaging Design

on In-Store Buying Decisions

3. Marius Brostrøm Kousgaard Tid til kvalitetsmåling? – Studier af indrulleringsprocesser i

forbindelse med introduktionen af kliniske kvalitetsdatabaser i speciallæ-gepraksissektoren

4. Irene Skovgaard Smith Management Consulting in Action Value creation and ambiguity in client-consultant relations

5. Anders Rom Management accounting and inte-

grated information systems How to exploit the potential for ma-

nagement accounting of information technology

6. Marina Candi Aesthetic Design as an Element of Service Innovation in New Technology-

based Firms

7. Morten Schnack Teknologi og tværfaglighed – en analyse af diskussionen omkring indførelse af EPJ på en hospitalsafde-

ling

8. Helene Balslev Clausen Juntos pero no revueltos – un estudio

sobre emigrantes norteamericanos en un pueblo mexicano

9. Lise Justesen Kunsten at skrive revisionsrapporter. En beretning om forvaltningsrevisio-

nens beretninger

10. Michael E. Hansen The politics of corporate responsibility: CSR and the governance of child labor

and core labor rights in the 1990s

11. Anne Roepstorff Holdning for handling – en etnologisk

undersøgelse af Virksomheders Sociale Ansvar/CSR

12. Claus Bajlum Essays on Credit Risk and Credit Derivatives

13. Anders Bojesen The Performative Power of Competen-

ce – an Inquiry into Subjectivity and Social Technologies at Work

14. Satu Reijonen Green and Fragile A Study on Markets and the Natural

Environment

15. Ilduara Busta Corporate Governance in Banking A European Study

16. Kristian Anders Hvass A Boolean Analysis Predicting Industry

Change: Innovation, Imitation & Busi-ness Models

The Winning Hybrid: A case study of isomorphism in the airline industry

17. Trine Paludan De uvidende og de udviklingsparate Identitet som mulighed og restriktion

blandt fabriksarbejdere på det aftaylo-riserede fabriksgulv

18. Kristian Jakobsen Foreign market entry in transition eco-

nomies: Entry timing and mode choice

19. Jakob Elming Syntactic reordering in statistical ma-

chine translation

20. Lars Brømsøe Termansen Regional Computable General Equili-

brium Models for Denmark Three papers laying the foundation for

regional CGE models with agglomera-tion characteristics

21. Mia Reinholt The Motivational Foundations of

Knowledge Sharing

22. Frederikke Krogh-Meibom The Co-Evolution of Institutions and

Technology – A Neo-Institutional Understanding of

Change Processes within the Business Press – the Case Study of Financial Times

23. Peter D. Ørberg Jensen OFFSHORING OF ADVANCED AND

HIGH-VALUE TECHNICAL SERVICES: ANTECEDENTS, PROCESS DYNAMICS AND FIRMLEVEL IMPACTS

24. Pham Thi Song Hanh Functional Upgrading, Relational Capability and Export Performance of

Vietnamese Wood Furniture Producers

25. Mads Vangkilde Why wait? An Exploration of first-mover advanta-

ges among Danish e-grocers through a resource perspective

26. Hubert Buch-Hansen Rethinking the History of European

Level Merger Control A Critical Political Economy Perspective

20091. Vivian Lindhardsen From Independent Ratings to Commu-

nal Ratings: A Study of CWA Raters’ Decision-Making Behaviours

2. Gu!ri! Weihe Public-Private Partnerships: Meaning

and Practice

3. Chris Nøkkentved Enabling Supply Networks with Colla-

borative Information Infrastructures An Empirical Investigation of Business

Model Innovation in Supplier Relation-ship Management

4. Sara Louise Muhr Wound, Interrupted – On the Vulner-

ability of Diversity Management

5. Christine Sestoft Forbrugeradfærd i et Stats- og Livs-

formsteoretisk perspektiv

6. Michael Pedersen Tune in, Breakdown, and Reboot: On

the production of the stress-fit self-managing employee

7. Salla Lutz Position and Reposition in Networks – Exemplified by the Transformation of

the Danish Pine Furniture Manu- facturers

8. Jens Forssbæck Essays on market discipline in commercial and central banking

9. Tine Murphy Sense from Silence – A Basis for Orga-

nised Action How do Sensemaking Processes with

Minimal Sharing Relate to the Repro-duction of Organised Action?

10. Sara Malou Strandvad Inspirations for a new sociology of art:

A sociomaterial study of development processes in the Danish film industry

11. Nicolaas Mouton On the evolution of social scientific

metaphors: A cognitive-historical enquiry into the

divergent trajectories of the idea that collective entities – states and societies, cities and corporations – are biological organisms.

12. Lars Andreas Knutsen Mobile Data Services: Shaping of user engagements

13. Nikolaos Theodoros Korfiatis Information Exchange and Behavior A Multi-method Inquiry on Online

Communities

14. Jens Albæk Forestillinger om kvalitet og tværfaglig-

hed på sygehuse – skabelse af forestillinger i læge- og

plejegrupperne angående relevans af nye idéer om kvalitetsudvikling gen-nem tolkningsprocesser

15. Maja Lotz The Business of Co-Creation – and the

Co-Creation of Business

16. Gitte P. Jakobsen Narrative Construction of Leader Iden-

tity in a Leader Development Program Context

17. Dorte Hermansen ”Living the brand” som en brandorien-

teret dialogisk praxis: Om udvikling af medarbejdernes

brandorienterede dømmekraft

18. Aseem Kinra Supply Chain (logistics) Environmental

Complexity

19. Michael Nørager How to manage SMEs through the

transformation from non innovative to innovative?

20. Kristin Wallevik Corporate Governance in Family Firms The Norwegian Maritime Sector

21. Bo Hansen Hansen Beyond the Process Enriching Software Process Improve-

ment with Knowledge Management

22. Annemette Skot-Hansen Franske adjektivisk afledte adverbier,

der tager præpositionssyntagmer ind-ledt med præpositionen à som argu-menter

En valensgrammatisk undersøgelse

23. Line Gry Knudsen Collaborative R&D Capabilities In Search of Micro-Foundations

5. Christine Sestoft Forbrugeradfærd i et Stats- og Livs-

formsteoretisk perspektiv

6. Michael Pedersen Tune in, Breakdown, and Reboot: On

the production of the stress-fit self-managing employee

7. Salla Lutz Position and Reposition in Networks – Exemplified by the Transformation of

the Danish Pine Furniture Manu- facturers

8. Jens Forssbæck Essays on market discipline in commercial and central banking

9. Tine Murphy Sense from Silence – A Basis for Orga-

nised Action How do Sensemaking Processes with

Minimal Sharing Relate to the Repro-duction of Organised Action?

10. Sara Malou Strandvad Inspirations for a new sociology of art:

A sociomaterial study of development processes in the Danish film industry

11. Nicolaas Mouton On the evolution of social scientific

metaphors: A cognitive-historical enquiry into the

divergent trajectories of the idea that collective entities – states and societies, cities and corporations – are biological organisms.

12. Lars Andreas Knutsen Mobile Data Services: Shaping of user engagements

13. Nikolaos Theodoros Korfiatis Information Exchange and Behavior A Multi-method Inquiry on Online

Communities

14. Jens Albæk Forestillinger om kvalitet og tværfaglig-

hed på sygehuse – skabelse af forestillinger i læge- og

plejegrupperne angående relevans af nye idéer om kvalitetsudvikling gen-nem tolkningsprocesser

15. Maja Lotz The Business of Co-Creation – and the

Co-Creation of Business

16. Gitte P. Jakobsen Narrative Construction of Leader Iden-

tity in a Leader Development Program Context

17. Dorte Hermansen ”Living the brand” som en brandorien-

teret dialogisk praxis: Om udvikling af medarbejdernes

brandorienterede dømmekraft

18. Aseem Kinra Supply Chain (logistics) Environmental

Complexity

19. Michael Nørager How to manage SMEs through the

transformation from non innovative to innovative?

20. Kristin Wallevik Corporate Governance in Family Firms The Norwegian Maritime Sector

21. Bo Hansen Hansen Beyond the Process Enriching Software Process Improve-

ment with Knowledge Management

22. Annemette Skot-Hansen Franske adjektivisk afledte adverbier,

der tager præpositionssyntagmer ind-ledt med præpositionen à som argu-menter

En valensgrammatisk undersøgelse

23. Line Gry Knudsen Collaborative R&D Capabilities In Search of Micro-Foundations

24. Christian Scheuer Employers meet employees Essays on sorting and globalization

25. Rasmus Johnsen The Great Health of Melancholy A Study of the Pathologies of Perfor-

mativity

26. Ha Thi Van Pham Internationalization, Competitiveness

Enhancement and Export Performance of Emerging Market Firms:

Evidence from Vietnam

27. Henriette Balieu Kontrolbegrebets betydning for kausa-

tivalternationen i spansk En kognitiv-typologisk analyse

20101. Yen Tran Organizing Innovationin Turbulent

Fashion Market Four papers on how fashion firms crea-

te and appropriate innovation value

2. Anders Raastrup Kristensen Metaphysical Labour Flexibility, Performance and Commit-

ment in Work-Life Management

3. Margrét Sigrún Sigurdardottir Dependently independent Co-existence of institutional logics in

the recorded music industry

4. Ásta Dis Óladóttir Internationalization from a small do-

mestic base: An empirical analysis of Economics and

Management

5. Christine Secher E-deltagelse i praksis – politikernes og

forvaltningens medkonstruktion og konsekvenserne heraf

6. Marianne Stang Våland What we talk about when we talk

about space:

End User Participation between Proces-ses of Organizational and Architectural Design

TITLER I ATV PH.D.-SERIEN

19921. Niels Kornum Servicesamkørsel – organisation, øko-

nomi og planlægningsmetoder19952. Verner Worm Nordiske virksomheder i Kina Kulturspecifikke interaktionsrelationer

ved nordiske virksomhedsetableringer i Kina

19993. Mogens Bjerre Key Account Management of Complex Strategic Relationships An Empirical Study of the Fast Moving Consumer Goods Industry20004. Lotte Darsø Innovation in the Making Interaction Research with heteroge-

neous Groups of Knowledge Workers creating new Knowledge and new Leads

20015. Peter Hobolt Jensen Managing Strategic Design Identities The case of the Lego Developer Net-

work20026. Peter Lohmann The Deleuzian Other of Organizational Change – Moving Perspectives of the Human

7. Anne Marie Jess Hansen To lead from a distance: The dynamic interplay between strategy and strate-

gizing – A case study of the strategic management process20038. Lotte Henriksen Videndeling – om organisatoriske og ledelsesmæs-

sige udfordringer ved videndeling i praksis

9. Niels Christian Nickelsen Arrangements of Knowing: Coordi-

nating Procedures Tools and Bodies in Industrial Production – a case study of the collective making of new products

200510. Carsten Ørts Hansen Konstruktion af ledelsesteknologier og effektivitet

TITLER I DBA PH.D.-SERIEN

20071. Peter Kastrup-Misir Endeavoring to Understand Market

Orientation – and the concomitant co-mutation of the researched, the

re searcher, the research itself and the truth

20091. Torkild Leo Thellefsen Fundamental Signs and Significance-

effects A Semeiotic outline of Fundamental

Signs, Significance-effects, Knowledge Profiling and their use in Knowledge Organization and Branding

2. Daniel Ronzani When Bits Learn to Walk Don’t Make

Them Trip Technological Innovation and the Role

of Regulation by Law in Information Systems Research: the Case of Radio Frequency Identification (RFID)