+ )+ (+,4,>]& QSSR3 8>&)4* ]&$*4%.,&> +01+ 4, (*&>.G$H&,.(*&>$, >4 H.*+>4*+ H$%& >$%+ =+%H&1+ O4,>[&.,$%+$ *&>]&)4*4& 0&,.@&$* B, H.) ,.%H$* ^& 0+ >.H=.%1F )&O+%&1 B, O4,>[&+ )+ 0$%>&,$ )+ B,>$%>$%+ *$ ,&@+*4* $%1&>4*$[&+& QB,>F%>$%+$ 0>FG41F e $>&)4* ]&$*4%.,&> +01+ O.$%1+ @A0>.0N )$% $14,>& >A,) >%+^1+ 0$%>&,$N )+@&,+ H$& +*$01&> ^& $D0.$%D+ +,+%(&$ H$& +O&>&+,1R QSbR3 8>+$01$ O4,>[&.,$%+ O*+f&D&*F +01+ D+,+O&>F B,1%'. $%1&>4*$[&+ $%1%.G&>F3 6 D&,+ )+ I1&41 >F $%1&>4*$E&&*+ )4%+%.$0+ 04,1 >$%$>1+%&G$1+ =%&, 0>F)+%+$ *4D%&O&+%&& $%1&>4*$%+ )&, >$4G$ 0>F)+%&& ,&@+*4*4& )+ $>&) ]&$*4%.,&> )&, >.H=.G&E&$ *&>]&)4*4& 0&,.@&$*N =%&, >%+I1+%+$ ,&@+*4*4& )+ 04D01$,E+ &,O*$H$1.$%+N ,4H&1+ =%.01$(*$,)&,+N )$% I& =%&, %+)4>+%+$ (%.0&H&& >$%1&*$k4*4& =%.1+>1.% $%1&>4*$%3 8>&)4* ]&$*4%.,&> k.$>F %.*4* )+ =%.1+>1.% $* >$%1&*$k4*4&N )$1.%&1F =%.=%&+1FE&*.% 0$*+ @A0>.$0+N )&H&,4A,) +O+>14* )+ O%+>$%+ )&,1%+ 04=%$O+E+*+ $%1&>4*$%+3 #.*+>4*+*+ )+ $>&) ]&$*4%.,&> )&, *&>]&)4* 0&,.@&$* $>E&.,+$GF >$ *4D%&O&$,1N =%.1+kA,) 04=%$O+E+*+ $%1&>4*$%+ )+ )+1+%&.%$%+$ H+>$,&>F3 P4D =%+0&4,+$ )+ B,>F%>$%+ $%1&>4*$%FN $>&)4* ]&$*4%.,&> )&, *&>]&)4* 0&,.@&$* $>E&.,+$GF >$ 4, $D0.%D$,1 )+ I.>4%&N )$1.%&1F =%.=%&+1FE&*.% 0$*+ +*$01&>+N =%.1+kA,) >$%1&*$k4* O$EF )+ O.%E$ >.H=%+0&@F3 8>&)4* ]&$*4%.,&> =+%H&1+ I& . D4,F 1%.O&>&1$1+N )+.$%+>+ H.*+>4*+*+ )+ )&H+,0&4,& H&>&N =%+>4H $=$N +*+>1%.*&E&&N )&@+%I& ,41%&+,E&N =.1 01%FD$1+ *&D+% >$%1&*$k4* I& 0&,.@&$*$N B, 1&H= >+ H.*+>4*+*+ H$%&N >$ =%.1+&,+*+ I& $*E& H+)&$1.%& $& &,O*$H$E&+&N 01%FD$1 >4 (%+4 %+E+$4$ )+ E+041 >.,k4,>1&@3 :,k+>1$%+$ $>&)4*4& ]&$*4%.,&> Q$ 0.*4E&+& @A0>.+*$01&>+R B, $%1&>4*$E&+ $%+ >$ +O+>1 >%+I1+%+$ @A0>.G&1FE&& I& $ (%$)4*4& )+ *&D+%1$1+ )+ H&I>$%+ $* $%1&>4*$E&+&N =%&, >%+I1+%+$ >$,1&1FE&& )+ $>&) ]&$*4%.,&> $* *&>]&)4*4& 0&,.@&$*N 0>F)+%+$ ,&@+*4*4& )+ =%.01$(*$,)&,+N %+)4>A,) )4%+%+$ I& =%&, BHD4,F1FE&%+$ >$*&1FE&& >$%1&*$k4*4& $%1&>4*$% +f&01+,1N =+ . )4%$1F )+ $=%.f&H$1&@ 4, $,3 gA0>.04=*&H+,1$%+$ =.$1+ O& 41&*&G$1F >4 04>>+0 B, 01$)&&*+ &,>&=&+,1+ )+ $%1%.GF >A,) 0+H,+*+ %$)&.*.(&>+ 04,1 H&,.%+ ^& OF%F +O+>1+ $)@+%0+ 0+H,&O&>$1&@+3 6O+>1+*+ $)@+%0+ 04,1 )$1+ )+ 1+],&>$ &,k+>1F%&&N )+ H&k*.$>+*+ )+ $0+=0&+ ^& $,1&0+=0&+ 41&*&G$1+3 5&/?/H*>?@C (*>*&/C 5%$1$H+,14* $,$*(+G&> J' />?''>"C/H/?)& .%$* #4*1+ H+)&>$H+,1+ $,$*(+G&>+ .%$*+ =.1 O& 41&*&G$1+ =+,1%4 %+)4>+%+$ )4%+%&*.% $%1%.G&>+ )+ (+,4,>]&N B,>+=A,) >4 $>+1$H&,.O+, B, ).G+ )+ =$,$ *$ "YYY H( )+ =$1%4 .%& =+ G&3 ;.G+*+ )+ $>+1$H&,.O+, H$& H$%& )+ bYYY H( =+ G& =.1 O& $0.>&$1+ >4 ]+=$1.1.f&>&1$1+N )+^&N >]&$% ^& B, ).G+ H&>&N $)H&,&01%$%+$ $>+014& H+)&>$H+,1 =.$1+ O& =%.D*+H$1&>F B, >$G4* =$>&+,[&*.% >4 ]+=$1.=$1&+ 0$4 B, >.HD&,$[&+ >4 $*1+ H+)&>$H+,1+3 :,]&D&1.%&& )+ >&>*..f&(+,$G$ ? Q2/y?R $4 . +O&>&+,[F >%+0>41F $04=%$ )4%+%&& $%1%.G&>+ )$% >4 %&0>4%& H$k.%+d 0A,(+%F%& ($01%.'&,1+01&,$*+N ]&=+%1+,0&4,+ $%1+%&$*FN &,04O&>&+,[F >$%)&$>F >.,(+01&@F ^& &,04O&>&+,[F %+,$*F B, 0=+>&$* *$ @A%01,&>&3 C,1%'. H+1$'$,$*&GF >+ $ +f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d l}$*($,3 8@$&*$D*+ $1d ]11=drr~~~3O)$3(.@r>)%]r>.,04H+%r]}$*($,3]1H*3 8>>+00+) P+=1+HD+% ?"N ?YYa3 l$HD4%(+% #:N -$j]$,=$* PN #..$% 98N /01+% ;3 :,1%$'$%1&>4*$% ]}$*4%.,$,0d $ %+@&+~ .O =%.)4>10=+>&O&> 0$O+1} =%.O&*+03 I(9'" N*)@*')'8 T@(+93 ?YYSqS?d?X_'SYX3 `k.%)$* m#N -k4,((%+, 86N •*.@,&,( 8N P*.%)$* -3 T.,'01+%.&)$* $,1&'&,O*$HH$1.%} )%4(0N &,>*4)&,( >}>*.'.f}(+,$0+'? &,]&D&1.%0N &, .01+.$%1]%&1&> j,++ =$&,d H+1$' $,$*}0&0 .O %$,).H&0+) =*$>+D. >.,1%.**+) 1%&$*03 ZUV3 ?YYbqS?Xd"S"a3 6=4D T.@+HD+% ?SN ?YYb3 c+%j$j ;N ;.4($).0 #3 5]+ 40+ .O (*4>.0$H&,+ 1]+%$=} &, .01+.$%1]%&1&03 L+** O2'" 1%$1$1 )+ >$%)&.*.(&+N `4>4%+I1&N 6)3 8>$)+H&+& 7.HA,+N ?Y"Y3 "\3 ;.~*&,( LN ;+,&0>. 7N P$O+ 9%+0>%&D&,( O.% 9$&,N 2*&,&>$* 2$0+N #+)0>$=+ 6)4>$1&.,N />1.D+% ?Y"S3 "X3 2]$%*+0 93 g+($N ;.+0 9..% 9$&, #$,$(+H+,1 9%+@$&* &, 9%&H$%} 2$%+ 2*&,&>$* 7+@&+~N #+)0>$=+ 6)4>$1&.,N T.@+HD+% ?Y"S3 1%$1$1 )+ >$%)&.*.(&+N `4>4%+I1&N 6)3 8>$)+H&+& 7.HA,+N ?Y"Y3 "\3 ;.~*&,( LN ;+,&0>. 7N P$O+ 9%+0>%&D&,( O.% 9$&,N 2*&,&>$* 2$0+N #+)0>$=+ 6)4>$1&.,N />1.D+% ?Y"S3 "X3 2]$%*+0 93 g+($N ;.+0 9..% 9$&, #$,$(+H+,1 9%+@$&* &, 9%&H$%} 2$%+ 2*&,&>$* 7+@&+~N #+)0>$=+ 6)4>$1&.,N T.@+HD+% ?Y"S3
_Y
O&&,) (*4>.G$H&,.04*O$1 0&,(4%N 0$4 B, >.HD&,$[&+ >4 >.,)%.&1&, 0$4 $*[& $(+,[&3 L*4>.G$H&,$ +01+ .H,&=%+G+,1F B, >+*4*+*+ $,&H$*+ O&&,) . >.H=.,+,1F $ H4*1.% H$>%.H.*+>4*+N >4H $% O& $>&)4* ]&$*4%.,&>3 <1&*&G$%+$ 04*O$14*4& )+ (*4>.G$H&,F +01+ >.,1%.@+%0$1Fq +01+ >.,0&)+%$1 4, /52 B, P1$1+*+ <,&1+N )$% +01+ 4, H+)&>$H+,1 =+ D$GF )+ =%+0>%&=[&+ H+)&>$*F B, 64%.=$ QS_R3 ;+^& H4*1+ 014)&& $4 +f$H&,$1 H+>$,&0H+*+ =.1+,[&$*+ )+ $>[&4,+ =+,1%4 (*4>.G$H&,F B, $%1%.GFN >$%$>1+%&01&>F $>+01.% H+>$,&0H+ %FHA,+ ,+>*$%F3 <, 014)&4 >*&,&> =+ S"\ =$>&+,[& >4 (.,$%1%.GFN >$%+ 1&H= )+ _ *4,& $4 =%&H&1 (*4>.G$H&,F Q"ZYY H( r G&RN $>+1$H&,.O+, QS ( r G& RN 0$4 =*$>+D.N $ +@&)+,[&$1 . BHD4,F1F[&%+ 04D01$,[&$*F $ 0&H=1.H+*.% *$ =$>&+,[&& >$%+ $4 =%&H&1 (*4>.G$H&,$N B, >.H=$%$[&+ >4 =$>&+,[&& >4 =*$>+D. QSaR3 8>+1$H&,.O+,4* $ )$1 4, %F0=4,0 H$& D+,+O&> )+>A1 =*$>+D.N )+^& $>+$01F )&O+%+,[F ,4 $ O.01 0+H,&O&>$1&@ 01$1&01&>3 4>/C(*Q'A* )G')'+* 9$>&+,[&& >4 (.,$%1%.GF >$%+ ,4 $4 %F0=4,0 *$ .%&>$%+ )&,1%+ .=[&4,&*+ 1+%$=+41&>+ =%+>+)+,1+ Q0$4 >$%+ $4 $@41 +O+>1+ 0+>4,)$%+ >+ $4 %+)40 +O&>$>&1$1+$RN =.1 41&*&G$ .=&.&)+*+ >$ 1%$1$H+,1 4,&> 0$4 $)k4@$,1 O$[F )+ $>+1$H&,.O+, 0$4 8:TP3 601+ &H=.%1$,1 0F 0+ >.,^1&+,1&G+G+ =.1+,[&$*4* +O+>1+*.% $)@+%0+N =%+>4H ^& =.1+,[&$*4* &,1+%$>1&4,&*.% H+)&>$H+,1.$0+N =+,1%4 1.$1+ .=&.&)+*+3 6O+>14* $)@+%0 >+* H$& (%$@ +01+ )+=%&H$%+$ %+0=&%$1.%&+N B, 0=+>&$* >A,) ).G$ +01+ >%+0>41F =%+$ %+=+)+N 0$4 >A,) H+)&>$H+,14* +01+ $)H&,&01%$1 =%+$ )+0N 0$4 >.,>.H&1+,1 >4 +1$,.*4*3 6/>/(*H*>?@C >)>"/&H/A)C('A 5&/?/H*>?@C A)>.*&I/?)& >*AD'&@&('A/C 5%$1$H+,1 &(&+,.)&+1+1&> >.,01F B, %+(&H $*&H+,1$% ]&=.>$*.%&>N +@&1$%+$ +O.%14*4& O&G&> Q4%>$14* ^& >.D.%A14* 0>F%&*.%RN %&)&>$%+$ (%+41F[&*.%N 1.14* B, 0>.= )+ $ 0>F)+$ B,>F%>$%+$ +f>+0&@F $%1&>4*$%F3 5%$1$H+,14* D$*,+.'j&,+1.'O&G&>$* $%+ 0>.=4* $H+*&.%F%&& 0&H=1.H$1.*(&+& $*(&>+N H+,[&,+%&& 4,4& 1.,40 H40>4*$% $)+>@$1 ^& $ $H=*&14)&,&& H.D&*&1F[&& $%1&>4*$1$%+3 601+ D&,+ >4,.0>41 O$=14* >F . ]&=.1.,&+ =%+.=+%$1.%&+ $ >@$)%&>+=04*4& =.$1+ =+%0&01$ )4=F $%1%.=*$01&$ 1.1$*F )+ (+,4,>]& Q95LR3 8>+$01F ]&=.1.,&+ $%+ &,O*4+,[F 0+H,&O&>$1&@F $04=%$ H.)4*4& )+ H&^>$%+ $ (+,4,>]&4*4& =.01.=+%$1.% QS\R3 5%$1$H+,14* .%1.=+)&> 41&*&G+$GF )&0=.G&1&@+ )+ $0&01$%+ $ H+%04*4& Q>$%k+N >$)%4R ^& )&@+%0+ .%1+G+ B, >$G4* 4,.% )&O.%H&1F[& &H=.%1$,1+ *$ =$>&+,[&& >$%+ $4 >.,1%$&,)&>$1F &,1+%@+,[&$ >]&%4%(&>$*F 0$4 =%+.=+%$1.% B, $^1+=1$%+$ $>+01+&$3 5&/?/H*>?@C A)>.*&I/?)& /&?&).A)G'A 8%1%.0>.=&$ $%+ %.* )&$(,.01&> ^& 1+%$=+41&> B, 01$)&&*+ &,>&=&+,1+ ^& H+)&& $*+ (.,$%1%.G+&3 8D.%)4* $%1%.0>.=&> =.$1+ +@&)+,[&$ *+G&4,& >$%1&*$(&,.$0+ ,+)&$(,.01&>$1+ &H$(&01&>N %4=14%& %+>+,1+ 0$4 @+>]& )+ H+,&0> &,1+%, 0$4 +f1+%,N H+,&0>.G+ )+(+,+%$1&@+ QJ&(3SRN %4=14%& *&($H+,1$%+ Q*&($H+,1 B,>%4>&^$1 $,1+%&.% ^& =.01+%&.%RN =*&>& 0&,.@&$*+N 0&,.@&1$ &,O*$H$1.%&+N >.%=& *&D+%& &,1%$$%1&>4*$%&3 5%$1$H+,14* $%1%.0>.=&> +01+ H&,&H &,@$G&@N $H+*&.%+$GF 0&H=1.H$1.*.(&$ $*(&>F =%&, )+D%&)$%+$ *+G&4,&*.% >.,)%$*+ ^& H+,&0>$*+N 0&,.@+>1.H&+ 04D1.1$*FN +*&D+%$%+$ =*&>&*.% 0&,.@&$*+N *$@$k $%1&>4*$%3 C, >$G4* %4=14%&*.% H+,&0>$*+ 0+ &H=4,+ 0414%$ H+,&0>$*$ 0$4 H+,&0>+>1.H&$ =$%[&$*FN B, O4,>[&+ )+ 1&=4* *+G&4,&&3 :,01$D&*&1F[&*+ *&($H+,1$%+ 0+ %+G.*@$ =%&, *&($H+,1.=*$01&& $%1%.0>.=&>+3 #$,$(+H+,14* $%1%.0>.=&> $* *+G&4,&*.% >.,)%$*+ 0+ %+$*&G+$GF B, O4,>[&+ )+ )&H+,0&4,+$ )+O+>14*4&N )+ @A%01$ =$>&+,14*4& ^& )+ ,&@+*4* )+ $>1&@&1$1+ $* $>+014&$3 ;+O+>1
_"
H$& H&> )+ ?'S >H?N *$ 4, =$>&+,1 1A,F% >4 $>1&@&1$1+ O&G&>F &,1+,0F ,+>+0&1F 1%$,0O+% )+ $41.(%+OF .01+.>.,)%$*F ^& H&>%.O%$>14%&N *$ =$>&+,14* @A%01,&> ' 1%$1$H+,1 =$*&$1&@ =%&, )+D%&)$%+ ^& H&>%.O%$>14%&q )+O+>1 H$& H$%+ )+ ?NZ'S >H?N *$ 4, =$>&+,1 1A,F% e 1%$,0=*$,1$%+ )+ $41.(%+O$ >.%1&>.0=.,(&.$0$ 0$4 &H=*$,1$%+ )+ >.,)%.>&1+ $41.*.(+3 C, >$G4* 4,+& (.,$%1%.G+ &,>&=&+,1+ 0+>4,)$%+ 4,+& )&O.%H&1F[&N >+* H$& O%+>@+,1 (+,4 @$%4HN .01+.1.H&$ 1&D&$*$ )+ @$*(&G$%+ 0+ $0.>&$GF 1%$1$H+,14*4& $%1%.0>.=&>N >4 0>.=4* 1+H=.%&GF%&& >A1 H$& H4*1 $ >]&%4%(&+& %$)&>$*+3
J&(3S #+,&0>.G$ )+(+,+%$1&@F ^& >.,)%.=$1&+ >.,)&* O+H4%$* &,1+%, 5&/?/H*>?@C &/+'A/C g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bR3 8%1%.=*$01&$ )+ (+,4,>]& ,+>+0&1F >4,.$01+%+$ 4,.% =%&,>&=&& )+ D$GFd "3 P+*+>E&$ =$>&+,E&*.% 0+ %+$*&G+$GF B, O4,>E&+ )+ &,)&>+*+ )+ >$*&1$1+ $ @&+E&&N +I+>4* H+1.)+*.% >.,0+%@$1.$%+N =F01%$%+$ H.D&*&1FE&&N >.H=*&$,E$ =$>&+,E&*.%N >.H.%D&)&1FE&N ,4 B, O4,>E&+ )+ @A%01Fq ?3 9*$,&,(4* =%+.=+%$1.% >*&,&> Q&01.%&>N H.D&*&1$1+$N 01$D&*&1$1+$R I& %$)&.*.(&> +01+ O.$%1+ &H=.%1$,1 =+,1%4 %+4I&1$ &,1+%@+,E&+& >]&%4%(&>$*+3 8,$*&G$ )&O.%H&1FE&*.%N $ $f+*.% H+>$,&>+ ^& $,$1.H&>+ ^& >$*>4*$%+$ @$%404*4& 0$4 @$*(404*4& 04,1 ,+>+0$%+ =+,1%4 01$D&*&%+$ 1%$,I+*.% )+ .01+.1.H&+ B, @+)+%+$ 4,4& %+G4*1$1 O$@.%$D&*q S3 b3 Z3 _3
P+*+>1$%+$ &H=*$,14*4& ,+>+0$% B, O4,>E&+ $>1&@&1$1+N @A%01F I&0$4 )&O.%H&1FE&*+ 8D.%)4* >]&%4%(&>$* )&O+%&1 B, O4,>E&+ )+ )+ =%+G+,E$ @$%404*4& @$*(404*4&$0.>&$1+q 0+@+%N $ >&>$1%&>&*.% =.01.=+%$1.%&& $,1+%&.$%+q 5%$,I+*+ )+ .01+.1.H&+ O+H4%$*+ I& 1&D&$*+ B, O4,>E&+ )+ =%+G+,E$ @$%404*4& 0$4 @$*(404*4& =+,1%4 %+01$D&*&%+$ 4,4& $f D&.H+>$,&> >.%+>1q 9.G&E&.,$%+$ %.1$E&.,$*F $ >.H=.,+,1+*.% =%.1+1&>+ +01+ O.$%1+ &H=.%1$,1F =+,1%4 +@.*4E&$ =.01.=+%$1.%&+q
_?
a3
`$*$,04* *&($H+,1$% B, O4,>E&+ )+ @$%40r@$*(40 =+,1%4 .DE&,+%+$ 01$D&*&1FE&& (+,4,>]&4*4&q \3 5%$>j&,(4* =$1+*$% I& %+04%O$1$%+$ =$1+*+&q X3 5&=4* O&fF%&&d >&H+,1$1F 0$4 ,+>&H+,1$1Fq "Y3 #$,$(+H+,14* =.01.=+%$1.%3
J&(3 b L.,$%1%.GF 0+>4,)$%F =+ (+,4 @$*(4H e &H$(&,& =%+N &,1%$ ^& =.01.=+%$1.% ;4%+%+$ $,1+%&.$%F =+%0&01+,1F )+ (+,4,>]& +01+ 4,$ )&,1%+ >+*+ H$& >.H4,+ =%.D*+H+ )4=F 95L3 J$>1.%&& &H=*&>$[& B, $=$%&[&$ $>+01+&$ 04,1d =0&].*.(&>&N O4,>1&.,$*& ^& H+>$,&>&3 ;4%+%+$ =.$1+ O& H.)+%$1F =A,F *$ 0+@+%FN =+%0&01+,1FN &H+)&$1 =.01.=+%$1.%N B, $D0+,[$ $,.H$*&&*.% >*&,&>+ 0$4 %$)&.(%$O&>+ QSX'b"R3 8>+01 *4>%4 =$%+ $ +@&)+,[&$ . &,O*4+,[F $ "/A?)&'C)& G.'D)C)('A'N >+& H$& O%+>@+,1 +@$*4$[& O&&,) 0F,F1$1+ H&,1$*FN $^1+=1F%&*+ =$>&+,14*4&N $,f&+1$1+$ ^& )+=%+0&$ Q$^1+=1$%+$ =$>&+,14*4& +01+ $D0+,[$ )4%+%&*.%N &$% $^1+=1$%+$ ,+B,)+=*&,&1F )+1+%H&,F $,f&+1$1+ ^&N *$ %A,)4* +&N )4%+%+R3 #$& H4*1 )+>A1 $1A1N 01$%+$ )+ 0F,F1$1+ ^& ,&@+*4* )+ K=$&, >$1$01%.=]&G&,(M$4 O.01 >+& H$& &H=.%1$,[& =%+)&>1.%& )+ )4%+%+ )4=F 95L Qb?'bbR3 9/@Q*C* "@>AS')>/C* 0+ %+O+%F *$ 14*D4%F%& )+ >..%).,$%+ &,1+%' ^& &,1%$H40>4*$%+N >+ =.1 O& $1%&D4&1+ $%1%.G+& =%+.=+%$1.%&&3 2+%>+1$%+$ )4%+%&& $,1+%&.$%+ )+ (+,4,>]& $ +@&)+,[&$1 >F ,4 ,4H$& H4^>]&& >.$=0+*.%N >& ^& ^.*)4*4& ^& $ 1%4,>]&4*4& =.1 O& %+0=.,0$D&*& =+,1%4 . )+G$f$%+ B, @$*(40 )&,$H&>N O$>1.% >$4G$* $* KH$*1%$>j&,('4*4&M =$1+*$%3 C, $>+*$^& 1&H= )+G+>]&*&D%4* )&,1%+ @$014* H+)&$* ^& @$014* *$1+%$* =.$1+ =%.@.>$ 4, KH$*1%$>j&,(M *$1+%$* =$1+*$% QbZR3 5@CK@&F&'C* H*A/>'A* O+H4%.=$1+*$%+ Q&,01$D&*&1$1+ O+H4%.=$1+*$%FN KH$*1%$>j&,(M *$1+%$* =$1+*$% 0$4 >%+^1+%+$ =%+0&4,&& )+ >F1%+ H+>$,&0H4* +f1+,0.% B, =*$, 0$(&1$*R )4> *$ 04=%$B,>F%>$%+$ *.>$*F3 2$4G+*+ $>+01.% 14*D4%F%& H+>$,&>+ =.1 O& =.G&[&.,$%+$ &,>.%+>1F $ >.H=.,+,1+*.% =%.1+1&>+N^& &,01$D&*&1$1+$3 $*&,&$H+,1 &, ;&O+%&1+ @$*(40 014)&& Q=.G&[&$$4 =%.1+G+& &,04O&>&+,1+ ^& )+G+>]&*&D%+ H40>4*$%+R $%F1$1 >F0$4 . %.1$[&+ &,1+%,F O+H4%$*F 0$4 1&D&$*F =.$1+ =%.@.>$ 4, 4,(]& )+ B,>*&,$%+ *$1+%$*F >%+0>41 ^& . *$1+%$*&G$%+$ $ %.14*+& Qb_RN %.1$[&$ &,>.%+>1F $ >.H=.,+,1+& O+H4%$*+ O&&,) >+$ H$& O%+>@+,1F >$4GF )+ >.H=*&>$[&& =$1+*$%+ )4=$ 95L3 / +%.$%+ )+ %.1$[&+ &,1+%,F $ >.H=.,+,1+& 1&D&$*+ =.$1+N )+ $0+H+,+$N )4>+ *$ =%.D*+H+ O+H4%.'=$1+*$%+ QbaR3 2.H=41+%1.H.(%$O4* =.$1+ )&$(,.01&>$ >$4G$ H+>$,&>F $ )4%+%&& $,1+%&.$%+ )+ (+,4,>]&3 /%&>+ H$*%.1$E&+ $ >.H=.,+,1+*.%
_S
=%.1+1&>+ )+1+%H&,F )4%+%& $,1+%&.$%+ =.01.=+%$1.%&&N *&H&1$%+$ H.D&*&1FE&& (+,4,>]&4*4&N &,01$D&*&1$1+ B, O*+f&+ I& )+>&H+,1$%+$ =%+>.>+ Qb\R3 ;+ $*1O+* H$*=.G&E&.,$%+$ >.H=.,+,1+& O+H4%$*+ +01+ . &,)&>$E&+ >.H4,F )+ $%1%.=*$01&+ )+ %+@&G&+ =%+>.>+ QbXNZYR3 X'KC')(&/"'* "3 L4>>&.,+ 88N J+*0., ;5N 8,)+%0., mmN 8,1].,} m#N c]$,( €N x&*0., 9xN +1 $*3 5]+ +OO+>10 .O 0=+>&O&> H+)&>$* >.,)&1&.,0 ., 1]+ O4,>1&.,$* *&H&1$1&.,0 .O +*)+%0 &, 1]+ J%$H&,(]$H P14)}3 8H+%&>$, m.4%,$* .O 94D*&> l+$*1]3 "XXbq\bQSRdSZ"eSZ\3 ?3 •$,+ 7-N `+%0]$)0j} `N -&, x2N 7.>j~..) 5N x..) •N •$,+ 7-N +1 $*3 6OO.%10 1. 01$,)$%)&G+ 1]+ %+=.%1&,( .O =$&,3 m.4%,$* .O 2*&,&>$* 6=&)+H&.*.(}3 ?YY?qZZQ?Rd"YZe ""Y3 S3 `+)0., mN 2%.O1 973 5]+ )&0>.%)$,>+ D+1~++, >*&,&>$* $,) %$)&.(%$=]&> j,++ .01+.$%1]%&1&0d $ 0}01+H$1&> 0+$%>] $,) 04HH$%} .O 1]+ *&1+%$14%+3 `#2 #40>4*.0j+*+1 ;&0.%) ?YY\qXd""_3 b3 ;&+==+ 98N -.]H$,)+% -P3 9$1].(+,+0&0 $,) H$,$(+H+,1 .O =$&, &, .01+.$%1]%&1&03 -$,>+13 ?YYZqS_ZQXb_SRdX_ZeXaS3 Z3 •++O+ JmN -+O+D@%+ m2N #$&f,+% xN P$**+} 8TN m%N 2$*)~+** ;PN •++O+ JmN +1 $*3 P+*O' +OO&>$>} O.% $%1]%&1&0 =$&,d %+*$1&.,0]&= 1. =+%>+=1&., .O 1]+%H$* *$D.%$1.%} =$&, 01&H4*&3 8%1]%&1&0 2$%+ “ 7+0+$%>]3 "XXaq"YQSRd"aae"\b3 _3 •++O+ JmN -+O+D@%+ m2N 6(+%1 m7N 8OO*+>j LN P4**&@$, #mN 2$*)~+** ;P3 5]+ %+*$1&.,0]&= .O (+,)+% 1. =$&,N =$&, D+]$@&.%N $,) )&0$D&*&1} &, .01+.$%1]%&1&0 =$1&+,10d 1]+ %.*+ .O >$1$01%.=]&G&,(3 9$&,3 ?YYYq\aQSRdS?ZeSSb3 a3 J+*0., ;3 5]+ 0.4%>+0 .O =$&, &, j,++ .01+.$%1]%&1&03 24%%+,1 /=&,&., &, 7]+4H$1.*.(}3 ?YYZq"aQZRd_?be_?\3 \3 ;&,( 2N 2&>411&,& JN m.,+0 L3 5&D&$* 04D>].,)%$* D.,+ 0&G+ $,) j,++ >$%1&*$(+ )+O+>10d %+*+@$,>+ 1. j,++ .01+.$%1]%&1&03 /01+.$%1]% 2$%1&* ?YYaq"ZdbaXe\_3 X3 ;.%+ ;N †4&,, PN ;&,( 2N +1 $*3 T$14%$* ]&01.%} $,) >*&,&>$* 0&(,&O&>$,>+ .O #7: )+1+>1+) D.,+ H$%%.~ *+0&.,0 $1 1]+ j,++d $ =%.0=+>1&@+ 014)} &, >.HH4,&1} )~+**&,( .*)+% $)4*103 8%1]%&1&0 7+0 5]+% ?Y"Yq"?d7??S3 "Y3 J+*0., ;5N T&4 mN L4+%H$G& 8N +1 $*d 2.%%+*$1&., .O 1]+ )+@+*.=H+,1 .O j,++ =$&, ~&1] +,*$%(&,( D.,+ H$%%.~ *+0&.,0 ., H$(,+1&> %+0.,$,>+ &H$(&,(3 8%1]%&1&0 7]+4H ?YYaqZ_d?X\_eX?3 ""3 -$0*+11 --N ;.%‡ ;N †4&,, PN +1 $*3 c.*+)%.,&> $>&) %+)4>+0 j,++ =$&, $,) D.,+ H$%%.~ *+0&.,0 .@+% .,+ }+$%d $ %$,).H&0+) >.,1%.**+) 1%&$*3 8,, 7]+4H ;&0 ?Y"?qa"d"S??e ?\3 "?3 x&*)& -#N 7$},$4*) m9N #$%1+*'9+**+1&+% mN +1 $*3 2].,)%.&1&, 04*=]$1+ %+)4>+0 D.1] >$%1&*$(+ @.*4H+ *.00 $,) D.,+ H$%%.~ *+0&.,0 &, j,++ .01+.$%1]%&1&0 =$1&+,10 01$%1&,( $0 +$%*} $0 _ H.,1]0 $O1+% &,&1&$1&., .O 1]+%$=}d $ %$,).H&0+)N ).4D*+'D*&,)N =*$>+D.'>.,1%.**+) =&*.1 014)} 40&,( #7:3 8,, 7]+4H ;&0 ?Y""qaYdX\?e\X3 "S3 c]$& LN `*&GG$%) -N P%&j$,1] gN +1 $*3 2.%%+*$1+0 /O •,++ 9$&, :, /*)+% 8)4*10d 5$0H$,&$, /*)+% 8)4*1 2.].%1 P14)}3 8%1]%&1&0 7]+4H ?YY_qZZd?_bea"3
_b
"b3 7.$>] l:N 8&(,+% 5N P.)+% PN l$$( mN x+*j+%*&,( lN 7.$>] l:N +1 $*3 9$1].D&.*.(} .O .01+.$%1]%&1&0d =$1].H+>]$,&0H0 $,) =.1+,1&$* 1]+%$=+41&> 1$%(+103 24%%+,1 ;%4( 5$%(+103 ?YYaq\Q?Rd?a"e?\?3 "Z3 #>;.4($** m3 8%1]%&1&0 $,) =$&,3 T+4%.(+,&> .%&(&, .O k.&,1 =$&,3 8%1]%&1&0 7+0+$%>] “ 5]+%$=}3 ?YY_q\Q_Rd??Y3 "_3 8*1H$, 73 #$,$(+H+,1 .O /01+.$%1]%&1&0 •,++ 9$&,d 5]+ P1$1+ .O 1]+ P>&+,>+3 -&11*+1.,N 2/d #+)&>$* 6)4>$1&., 7+0.4%>+0q ?YY_3 7+O 5}=+d 7+=.%13 "a3 8H&, 87N 8114% #N 9$1+* 7TN +1 $*3 P4=+%&,)4>1&., .O >}>*..f}(+,$0+'? $>1&@&1}&,
"\3 "X3
?Y3
?"3
]4H$, .01+.$%1]%&1&0'$OO+>1+) >$%1&*$(+3 :,O*4+,>+ .O ,&1%&> .f&)+3 m 2*&, :,@+01 "XXaqXXd"?S"eSa3 8%,.*)& 22N -+H=+%( •N -&,)+%].*H l3 :,1%$.00+.40 ]}=+%1+,0&., $,) =$&, &, 1]+ j,++3 m.4%,$* .O `.,+ “ m.&,1 P4%(+%} ' `%&1&0] g.*4H+3 "XaZqZaQSRdS_YeS_S3 8%,.*)& 22N ;k4%]440 m2N l++%O.%)1 mN •$%*+ 83 :,1%$.00+.40 =]*+D.(%$=]}N &,1%$.00+.40 =%+004%+ H+$04%+H+,10 $,) XXH52'=.*}=].0=]$1+ 0>&,1&(%$=]} &, =$1&+,10 ~&1] @$%&.40 =$&,O4* >.,)&1&.,0 &, 1]+ ]&= $,) j,++3 8>1$ /%1].=$+)&>$ P>$,)&,$@&>$3 "X\YqZ"Q"Rd"Xe?\3 c]$,( xN T4j& LN #.0j.~&1G 7xN +1 $*3 /87P: %+>.HH+,)$1&.,0 O.% 1]+ H$,$(+H+,1 .O ]&= $,) j,++ .01+.$%1]%&1&0d =$%1 :::d 2]$,(+0 &, +@&)+,>+ O.**.~&,( 0}01+H$1&> >4H4*$1&@+ 4=)$1+ .O %+0+$%>] =4D*&0]+) 1]%.4(] m$,4$%} ?YYX3 /01+.$%1]% 2$%1&* ?Y"Yq"\dba_eXX3 •.,11&,+, €5N •+H==&,+, 9N P+(+%D+%( #N l4jj$,+, #N 7++0 7N P$,1$@&%1$ PN +1 $*3 9+%&=]+%$* $,) 0=&,$* ,+4%$* H+>]$,&0H0 &, $%1]%&1&0N ~&1] =$%1&>4*$% %+O+%+,>+ 1.
1%+$1H+,1 .O &,O*$HH$1&., $,) =$&,3 8%1]%&1&0 “ 7]+4H$1&0H3 "XXbqSaQaRdX_ZeX\?3 ??3 5%++)+ 7;N •+,0]$*. ;7N L%$>+*} 7lN m.,+0 8•N 5%++)+ 7;N •+,0]$*. ;7N +1 $*3 5]+ >.%1&>$* %+=%+0+,1$1&., .O =$&,3 9$&,3 "XXXqaXQ?eSRd"YZe"""3 ?S3 •++O+ JmN PH&1] PmN `4OO&,(1., 8-N L&D0., mN P14)10 m-N 2$*)~+** ;P3 7+>+,1 $)@$,>+0 $,) O414%+ )&%+>1&.,0 &, 1]+ D&.=0}>].0.>&$* $00+00H+,1 $,) 1%+$1H+,1 .O $%1]%&1&03 m.4%,$* .O 2.,04*1&,( “ 2*&,&>$* 90}>].*.(}3 ?YY?qaYQSRd_bYe_ZZ3 ?b3 -$D.%)+ m#N ;$,). x8N 9.~+%0 #m3 :,O*4+,>+ .O ~+$1]+% ., .01+.$%1]%&1&>03 P.>&$* P>&+,>+ “ #+)&>&,+3 "X\_q?SQ_RdZbXeZZb3 ?Z3 P1%40D+%( :N #+,)+*D+%( 72N P+%%$ l8N P1%40D+%( 8#3 :,O*4+,>+ .O ~+$1]+% >.,)&1&.,0 ., %]+4H$1&> =$&,3 m.4%,$* .O 7]+4H$1.*.(}3 ?YY?q?XQ?RdSSZeSS\3 ?_3 5$,$H$0 PN x*4j$ 8N `+%%} 9N +1 $*3 x+&(]1 ($&, &0 $00.>&$1+) ~&1] ~.%0+,&,( .O j,++ =$&,N 01&OO,+00N $,) O4,>1&.,d $ *.,(&14)&,$* 014)}3 8%1]%&1&0 2$%+ 7+0 ?Y"?q_ZdSbebS3 ?a3 g$*)+0 8#N ;+ x&*)+ LN ;.]+%1} P8N +1 $*3 5]+ :*+Z\Zg$* 579g" @$%&$,1 &0 &,@.*@+) &, %&0j .O =$&,O4* j,++ .01+.$%1]%&1&03 8,, 7]+4H ;&0 ?Y""qaYd"ZZ_e_"3 ?\3 "\3 @$, #+4%0 m`N <&11+%*&,)+, 8LN P1.*j -N +1 $*3 8 O4,>1&.,$* =.*}H.%=]&0H &, 1]+ >$1+>].*'/'H+1]}*1%$,0O+%$0+ (+,+ &0 $00.>&$1+) ~&1] .01+.$%1]%&1&0%+*$1+) =$&,3 8%1]%&1&0 7]+4H ?YYXq_Yd_?\e?X3
_Z
?X3
#$*O$&1 8#N P+}H.4% 8`N L$. JN +1 $*3 8 %.*+ O.% 9826b &, .01+.$%1]%&1&0 =$&,d +@&)+,>+ O%.H ]4H$, (+,+1&> $00.>&$1&., $,) ,4** H41$,1 =]+,.1}=+3 8,, 7]+4H ;&0 ?Y"?qa"d"Yb?eb\3 SY3 5%,$@0j} •N J&0>]+% #N g…(1*+'m4,j+%1
S?3 SS3
Sb3 SZ3
S_3
.01+.$%1]%&1&0d =..*+) $,$*}0&0 .O 1~. %$,).H&G+) >*&,&>$* 014)&+03 L+** U(1 T(8 d,'"3 ?YY_q??d?b?X'?bS\3 9$*$>&.0 -2N m.,+0 x€N #$}. lLN #$*$1} x3 2*&,&>$* &,‰4&%&+03 ;. 01+%.&) &,k+>1&.,0 ]+*= ~&1] .01+.$%1]%&1&0 .O 1]+ j,++ V K29 O*2/)3 ?YYbqZSdX?"'X??3
M(212/@( T(,3 ?YYbq\dZYa'Z""3 Sa3 l+%%+%.'`+$4H.,1 LN :@.%%$ m8N ;+* 2$%H+, 5%$D$). #N `*$,>. JmN `+,&1. 9N #$%1&,'#.*$ 6N +1 $*3 L*4>.0$H&,+ 04*O$1+ &, 1]+ 1%+$1H+,1 .O j,++ .01+.$%1]%&1&0 0}H=1.H0q $ %$,).H&G+)N ).4D*+D*&,)N =*$>+D.'>.,1%.**+) 014)} 40&,( $>+1$H&,.=]+, $0 $ 0&)+ >.H=$%$1.%3 N*)@*')'8 T@(+93 ?YYaqZ_dZZZ'Z_a3 S\3 #&G,+% 7-N 9+11+%0., P2N P1+@+,0 m6N 8f+ #mN P,})+%'#$>j*+% - Q?YYZR 9%+.=+%$1&@+ ‰4$)%&>+=0 01%+,(1] =%+)&>10 O4,>1&.,$* $D&*&1} .,+ }+$% $O1+% 1.1$* j,++ $%1]%.=*$01}3 m 7]+4H$1.* S?d"ZSSe"ZSX SX3 `%$,)+% g8N P14*D+%( P;N 8)$H0 8;N l$%)+, 7TN `%4+]* PN +1 $*3 Q?YYSR 9%+)&>1&,( 1.1$* j,++ %+=*$>+H+,1 =$&, e $ =%.0=+>1&@+N .D0+%@$1&.,$* 014)}3 2*&, /%1].= 7+*$1 7+0 b"_d ?aeS_3 bY3 m.,+0 28N g.$j*$,)+% ;2N m.],01., ;xN P4$%+G'8*H$G.% #6 Q?YYYR l+$*1] %+*$1+) ‰4$*&1} .O *&O+ .41>.H+0 $O1+% 1.1$* ]&= $,) j,++ $%1]%.=*$01&+0 &, $ >.HH4,&1} D$0+) =.=4*$1&.,3 m 7]+4H$1.* ?ad "abZe"aZ?3 b"3 x}*)+ gN ;&+==+ 9N l+~*+11 PN -+$%H.,1] :; Q?YYaR 5.1$* j,++ %+=*$>+H+,1d :0 &1 %+$**} $, +OO+>1&@+ =%.>+)4%+ O.% $** 5]+ •,++ "bd b"aeb?S3 b?3 J$**+% lN •&%0>],+% PN •.,&( 8 Q?YYSR 90}>].*.(&>$* )&01%+00 =%+)&>10 O4,>1&.,$* .41>.H+0 $1 1]%++ $,) 1~+*@+ H.,1]0 $O1+% 1.1$* j,++ $%1]%.=*$01} ‚-+11+% 1. 1]+ +)&1.%ƒ3 L+, l.0= 90}>]&$1%} ?Zd Sa?eSaS3
__
N120204 Z, <453;3%74 20!<72453270 #&]$& 7.>$"N :4*&$'2%&01&,$ 7.>$?N J*.%&, #&14" <,&@+%0&1$1+$ )+ #+)&>&,F ^& J$%H$>&+ oL%&(.%+ 53 9.=$o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f4%&*+ =4*H.,$%+N )&0=40+ B, k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f4* )+ ]&=+%&,O*$[&+ Ql+%&,('`%+4+%R3 P'$ ).@+)&1 +O+>14* )+ )&H&,4$%+ $ 0+,G$[&+& )+ )&0=,++ =%&, 01&H4*$%+$ $>+01.% %+>+=1.%&N >$ )+ +f+H=*4 =%&, &,]$*$%+$ )+ O4%.0+H&) Q"R3 : T(/(,)%*'' 1( 5")'"1(*( /+ 212,)2*( *2,'13 DTNT8E 04,1 1+%H&,$[&& ,+%@.$0+ ,+H&+*&,&G$1+N >.,+>1$1+ *$ $O+%+,[+ @$($*+ H&+*&,&G$1+ Q8pR3 8>+^1& %+>+=1.%& &,1+%@&, B, %+(*$%+$ =%.>+04*4& )+ &,O*$[&+r)+O*$[&+ =4*H.,$%F3 7870 =.1 O& $>1&@$[& )+ . @$%&+1$1+ O.$%1+ *$%(F )+ 01&H4*&N H+>$,&>& 0$4 >]&H&>&N &%&1$,[& Q$H.,&$>N @$=.%& )+ +1+%N O4H )+ [&($%FN +1>RN H+)&$1.%& &,O*$H$1.%&N >&1.j&,+N O&&,) >4,.0>4[& ^& >$ %+>+=1.%& =4*H.,$%& &%&1$,[&3 9,+4H.1.%$f4* %+=%+G&,1F . 0&14$[&+ )+ 01&H4*$%+ &H=.%1$,1F $ 78703 P1&H4*$%+$ $>+014& 1&= )+ %+>+=1.%& $ O.01 $0.>&$1F >4 0+,G$[&$ )+ )&0=,++ 0$4 >4 $(%$@$%+$ $>+01+&$ ^& >4 140+$ &%&1$1&@F3 7+>+=1.%&& )+ B,1&,)+%+ >4 $)$=1$%+ %$=&)F *.>$*&G$[& B, %+(&4,& $*+ >F&*.% $+%&+,+ B, =%.f&H&1$1+$ @+,4*+*.% =+%&D%.,^&>+ =.1 O& $>1&@$[& )+ H.)&O&>F%& $*+ @.*4H4*4& )+ *&>]&) &,1+%01&[&$*3 801O+*N >.,(+01&$ =4*H.,$%F =.$1+ $>1&@$ 7870N O&&,) =%&, $>+01 +O+>1 *$ D$G$ 4,4&$ )&,1%+ H+>$,&0H+*+ )&0=,++& Q?R3
_a
: T(/(,)%*'' ='$*(:L 04,1 %+>+=1.%& )+ 1&= k4f1$'>$=&*$% Q%+>+=1.%& mR ^& =.1 O& )+ 1&= D%.,^&>N *$ ,&@+*4* H4>.$0+& D%.,^&>+N 0$4 )+ 1&= =4*H.,$%N B, =$%+,>]&HN B, O4,>[&+ )+ %+*$[&$ 0=$[&$*F >4 1+%&1.%&&*+ >$=&*$%+ $=$%[&,A,) >&%>4*$[&+& ,41%&1&@+N %+0=+>1&@ O4,>[&.,$*+ $*+ =4*H.,4*4&3 -.>$*&G$%+$ $)&$>+,1 >$=&*$%+*.% $*@+.*$%+ =+%H&1+ $>1&@$%+$ =%+>.>+ $ %+>+=1.%&*.% m =4*H.,$%&N *$ +f1%$@$G$%+$ )+ *&>]&) B, &,1+%01&[&4 0$4 $*@+.*+N >.,(+01&$ =4*H.,$%F O&&,) 4, 01&H4*$,1 =41+%,&> $* $>+01.% %+>+=1.%&3 P1&H4*$%+$ O$%H$>.*.(&>F $ %+>+=1.%&*.% m $ )+H.,01%$1 +O+>1+ )+ )&0>.,O.%1N $%04%F 1.%$>&>FN ^& B, H$& H&>F HF04%F )+ )&0=,++ QSR3 ;+^& >+*+ ).4F O.&[+ =*+4%$*+N @&0>+%$*F ^& =$%&+1$*F $4 .%&(&,+ +HD%&.*.(&>F >.H4,FN 1.14^& +f&01F )&O+%+,[+ H$k.%+ )&, =4,>1 )+ @+)+%+ $* $,$1.H&+& ^& O&G&.*.(&+& $>+01.%$N &,>*40&@ )&, =4,>1 )+ @+)+%+ $* &,+%@$[&+& 0+,0&1&@+3 9*+4%$ @&0>+%$*F +01+ &,+%@$1F +f1+,0&@ )+ O&*+1+ ,+%@.$0+ >4 .%&(&,+$ B, ,+%@4* @$( ^& 1%4,>]&4* ,+%@.0 0&H=$1&>N )$% ,4 >.,[&,+ 1+%H&,$[&& ,+%@.$0+ ,.>&>+=1&@+N H.1&@ =+,1%4 >$%+N $1&,(+%+$ $>+01+&$ )+ )&@+%0+ =%.>+0+ =$1.*.(&>+ 0$4 B, >$)%4* $,4H&1.% &,1+%@+,[&& H+)&>.'>]&%4%(&>$*+ ,4 )+1+%H&,F 0+,G$[&& )4%+%.$0+3 6f&01F B,0F . H4*1&14)&,+ )+ 1+%H&,$[&& ,+%@.$0+ 0+,G&1&@+ >$%+ &,+%@+$GF =*+4%$ =$%&+1$*FN $1A1 B, =.%[&4,+$ >.01$*F >A1 ^& B, >+$ )&$O%$(H$1&>F3 9*+4%$ >.01$*F ^& =$%1+$ =+%&O+%&>F $ =*+4%+& )&$O%$(H$1&>+ 04,1 &,+%@$1+ )+ O&D%+ ,+%@.$0+ >4 .%&(&,+$ B, ,+%@&& &,1+%>.01$*& >.%+0=4,GF1.%& ,&@+*4*4& %+0=+>1&@3 P1&H4*$%+$ 1+%H&,$[&&*.% ,+%@.$0+ )&, $>+01+ G.,+ )+1+%H&,F 0+,G$[&& )4%+%.$0+ *$ ,&@+*4* =+%+1+*4& 1.%$>&> $)&$>+,13 c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f=*&>$[&$ O&&,) )$1F )+ &,+%@$[&$ =F%[&& 04=+%&.$%+ $ $>+014&$ ^& =%&, O&*+1+ $=$%[&,A,) ,+%@&*.% &,1+%>.01$*&3 ;4%+%+$ )+ 1&= =*+4%&1&> 0&H[&1F 0&H4*1$, B, =$%1+$ &,O+%&.$%F $ ]+H&1.%$>+*4& ^& *$ ,&@+*4* 4HF%4*4& )+ $>++$^& =$%1+ +01+ =$1.(,.H.,&>F =+,1%4 &H=*&>$%+$ =*+4%+& )&$O%$(H$1&>+N O&&,) +f=*&>$1F )+ &,+%@$[&$ )4D*F $ $>+01+&$N )&, ,+%@4* O%+,&> =+,1%4 =.%[&4,+$ >+,1%$*FN %+0=+>1&@ )&, ,+%@&& &,1+%>.01$*&N =+,1%4 G.,$ =+%&O+%&>F3 -$ $,4H&[& =$>&+,[& >4 $O+>1$%+ =*+4%$*F $ O.01 )+0>%&0F . )4%+%+ >4 >$%$>1+%&01&>& $1&=&>+N 04%)FN )&O4GFN &H=%+>&0 )+*&H&1$1FN 0=%+ )+.0+D&%+ )+ )4%+%+$ =*+4%&1&>F 1&=&>F3 8>+01 1&= )+ )4%+%+N *$ =$>&+,[& >4 $O+>1$%+ =*+4%$*FN +01+ )+.0+D&1 )+ 04(+01&@F =+,1%4 +1&.*.(&$ H$*&(,F $ $O+>[&4,&& Qb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f>&1$1.$%+N
_\
*$ ,&@+*4* >.$%,+*.% ).%0$*+ H+)4*$%+3 8>1&@$%+$ >+*4*+*.% (*&$*+N $ >$,$*+*.% )+ >$*>&4 ^& 0.)&4N )+1+%H&,F . 0+,0&D&*&G$%+ *$ ,&@+*4* >.$%,+*.% ).%0$*+ ^& $ >+,1%&*.% 04=+%&.%&3 7+G4*1$,1$ $>+01.% =%.>+0+ +01+ %+=%+G+,1$1F )+ ]&=+%+f>&1$D&*&1$1+N )4%+%& 0=.,1$,+N ]&=+%$*(+G&+ ^& $*.)&,&+ B, $%&&*+ $)&$>+,1+ *+G&4,&*.% ,+%@.$0+ Q_R3 0?')C)('/ +@&*&'' W> G/?)C)('/ &*.G'&/?)&'* I1"+%"J((1" $,%,$0"+4/0()" K( "4$("4+1 $1"+%,1
:,>&)+,[$ (*.D$*F $ =,+4H.,&+& >.H4,&1$%+ @$%&$GF B, *&H&1+ O.$%1+ *$%(&N )+ *$ "\N? >$G4%& *$ "YYY =+%0.$,+'$, =+,1%4 @A%01+ B,1%+ _Z'_X $,&N =A,F *$ Z?NS >$G4%& *$ "YYY )+ =+%0.$,+'$, =+,1%4 @A%01+ =+01+ \Z )+ $,&3 C, P1$1+*+ <,&1+N *$ (%4=$ )+ @A%01F =+01+ \Z $,&N 4,4* )&, ?Y )+ 04D&+>[& =%+G&,1F 4, ,.4 +=&0.) )+ =,+4H.,&+ >.H4,&1$%F B, O&+>$%+ $, QaR3 ;4%+%+$ )+ 1&= =*+4%&1&> $=$%+ *$ H$k.%&1$1+$ =$>&+,[&*.% >4 =,+4H.,&+ >.H4,&1$%F Q\_N\{RN $*F14%& )+ 0&H=1.H+*+ ^& 0+H,+*+ >4,.0>41+ &, H.) >*$0&>d O+D%FN 140+ >4 +f=+>1.%$[&+ H4>.=4%4*+,1FN *+4>.>&1.GF3 ;4%+%+$ %+=%+G&,1F 4, 0&H=1.H &H=.%1$,1N $@A,) B, @+)+%+ >F >+%>+1F%&*+ >*&,&>+ $%$1F ^& . =+%0&01+,[F O%+>@+,1F $ $>+014& 0&H=1.HN =+01+ SY )+ G&*+ *$ "S{ )&,1%+ =$>&+,[& Q\R3 ;4%+%+$ =*+4%&1&>F )&, =,+4H.,&+ $=$%+ *$ ,&@+*4* G.,+& 1.%$>&>+ $)&$>+,1+ =$%+,>]&H4*4& $O+>1$1 ^& +01+ (+,+%$1F =%&, &,O*$H$[&$ =*+4%+& =$%&+1$*+N 0+>4,)$% &,O+>[&+& =$%+,>]&H4*4& =+%&O+%&>N 04D=*+4%$*3 ;$1+*+ >*&,&>+ $%$1F >F bY{ )&,1%+ =$>&+,[&& >4 =,+4H.,&+ >.H4,&1$%F )+G@.*1F =*+4%+G&+ =$%$=,+4H.,&>F B, >4%04* +@.*4[&+& D.*&& QXR3 #$k.%&1$1+$ =*+4%+G&&*.% =$%$=,+4H.,&>+ 04,1 %+)40+ >$ @.*4H ^& $4 +@.*4[&+ O$@.%$D&*FN >4 %+)4>+%+$ =%.(%+0&@F $ >$,1&1F[&& )+ *&>]&)N =A,F *$ %+G.*4[&$ >.H=*+1FN .)$1F >4 1%$1$H+,14* ^& @&,)+>$%+$ =%.>+04*4& =,+4H.,&>3 9*+4%+G&&*+ =$%$=,+4H.,&>+ 1%+D4&+ >F41$1+ $>1&@ B, +@.*4[&$ 1414%.% =,+4H.,&&*.%N $@A,) B, @+)+%+ $0=+>14* >*&,&> @$%&$D&* ^& +@.*4[&$ *.% &H=%+@&G&D&*F3 801O+*N +@.*4[&$ =.$1+ O& )+ *$ =*+4%+G&& 0+%.>&1%&,+ 0&H=*+ QOF%F &,O+>[&$ 0=$[&4*4& =*+4%$*R =A,F *$ +H=&+H =*+4%$*N =%&, >.,1$H&,$%+$ *&>]&)4*4& >4 (+%H+,&& $O*$[& *$ +1&.*.(&$ =,+4H.,&+&3 601+ &H=.%1$,1F %+$*&G$%+$ =4,>[&+& =*+4%$*+ =+,1%4 >F .%&+,1+$GF $1&14)&,+$ 1+%$=+41&>FN >$%+ )&O+%F %$)&>$* B, O4,>[&+ )+ $0=+>14* ^& +@.*4[&$ =*+4%+G&+&3 <, *&>]&) >4 (*&>.=*+4%&$ 04D YN_(r*N >4 *$>1&>')+]&)%.(+,$G$ =+01+ "YYY <:r* ^& =l 04D aN? $%$1F . +@.*4[&+ O%+>@+,1F 0=%+ +H=&+H ^& &H=4,+ %$=&) )%+,$k4* =*+4%$* 0$4 $*1+ H.)$*&1F[& 1+%$=+41&>+ )+ 1&= >]&%4%(&>$*3 <, =l 04D aNY &,)&>F . +@.*4[&+ >+%1F 0=%+ +H=&+H3 -&>]&)+*+ )&, =*+4%+G&$ =$%$=,+4H.,&>F >4 =l =+01+ aNS ,+>+0&1F %$%+.%& )%+,$k =*+4%$* ^& )+ .D&>+& 0+ %+0.%D 04D 1%$1$H+,14* H+)&>$H+,1.0 $* =,+4H.,&+& Q"YR Q""R3 6H=&+H4* =*+4%$* =.$1+ 0F $=$%F ^& OF%F *+(F14%F >4 =,+4H.,&$d =.011%$4H$1&>N )4=F >]&%4%(&+ 1.%$>.=4*H.,$%FN 0+>4,)$% &,O+>1F%&& 4,4& ]+H.1.%$f 0$4 =,+4H.1.%$f 0$4 =%&, 1%$,0H&1+%+$ =%.>+04*4& &,O+>[&.0 )+ *$ 04=4%$[&& 04D)&$O%$(H$1&>+3 I0"+4/./%,@+1
9,+4H.1.%$f4* %+=%+G&,1F $O+>[&4,+$ (+,+%$1F )+ =F1%4,)+%+$ $+%4*4& B, >$@&1$1+$ =*+4%$*F3 ;4%+%+$ 1.%$>&>F ^& )&0=,++$ D%40> &,01$*$1+ %+=%+G&,1F 0&H=1.H+ =%+G+,1+ *$ $=%.$=+ 1.[& =$>&+,[&& >4 =,+4H.1.%$fN >+*+ ).4F 0&H=1.H+ >.+f&01A,) =A,F *$ \Z{ )&, >$G4%&3 ;4%+%+$ 1.%$>&>F $%+ >$%$>1+%&01&>&*+ )4%+%&& =*+4%&1&>+ O&&,) 04D O.%HF )+ k4,(]& &,1+,0N >4 &%$)&+%+ B, 4HF%4* &=0&*$1+%$*N @$%&$D&*F >4 %+0=&%$[&$ ^& =.G&[&$ =$>&+,14*4&3 C, >$G4* =,+4H.1.%$f4*4& =%&H$% 0=.,1$, ,4 +f&01F 0+H,+ =%+H+%(F1.$%+ &,01$*F%&&
_X
=,+4H.1.%$f4*4&3 9$>&+,[&& 1&,+%&N $,1+%&.% 0F,F1.^&N 1.*+%+$GF )+014* )+ D&,+ )+0>%+^1+%+$ D%40>F $ >$=$>&1F[&& @&1$*+N )+^& )4%+%+$ =.$1+ $@+$ &,1+,0&1$1+ 0+H,&O&>$1&@F >*&,&>3 9,+4H.1.%$f4* 0=.,1$, 0+>4,)$%N *$ =$>&+,[&& >4 =$1.*.(&+ $,1+%&.$%FN O%+>@+,1 D%.,].=,+4H.=$1&+ .D01%4>1&@F >%.,&>FN =%.)4>+ )&,>.*. )+ )4%+%+N 4, %F04,+1 O4,>[&.,$* %+0=&%$1.% &H=.%1$,1N $@A,) B, @+%+%+ $*1+%$%+$ =%++f&01+,1F $ @+,1&*$[&+& *$ >$%+ 0+ 04=%$$)$4(F 0>F)+%+$ D%41$*F $ >$=$>&1F[&& @&1$*+ =%&, =,+4H.1.%$f3 C, =,+4H.1.%$f4* 0=.,1$, =%&H$% )4%+%+$ 1.%$>&>F 0+ $H+*&.%+$GF B, =%&H+*+ ?b .%+N >]&$% B, $D0+,[$ %+G.*4[&+& $>4H4*F%&& )+ $+%3 C, +@.*4[&+N =,+4H.1.%$f4* =%&H$% D&,+ 1.*+%$1 >*&,&> =.$1+ ,+>+0&1$ =A,F *$ "? 0F=1FHA,& =+,1%4 %+G.*@$%+$ >.H=*+1F3 C, =,+4H.1.%$f4* 0=.,1$, 0+>4,)$% )4%+%+$ 1.%$>&>F +01+ )+ .D&+>+& =+%0&01+,1FN >4 4, %F04,+1 >*&,&> H$& &H=.%1$,1 Q"?R3 #+>$,&0H4* +f$>1 $* )4%+%&& B, =,+4H.1.%$f ,4 +01+ >4,.0>413 6f&01F ).@+G& +f=+%&H+,1$*+ =%&@&,) %.*4* &,O*$H$[&+& =*+4%$*+ +.G&,.O&*&>+N )+=+,)+,1+ )+ 5TJ'$*O$ ^& %+0=.,0&@F *$ >.%1&>.1+%$=&+N B, =,+4H.1.%$f Q"SR3 9,+4H.H+)&$01&,4* 0=.,1$, %+=%+G&,1F . +,1&1$1+ =$1.*.(&>F %$%FN )+O&,&1F )+ =%+G+,[$ $+%4*4& B, H+)&$01&,N ,+=%+>+)$1F )+ 1%$4HF 0$4 =%.>+)4%& &,1+%@+,[&.,$*+ &,@$G&@+3 C, H$k.%&1$1+$ >$G4%&*.%N =,+4H.1.%$f4* 0+ @&,)+>F =%&, 1%$1$H+,1 >.,0+%@$1.%3 <, %$=.%1 %+>+,1 $* #$}. 2*&,&> $ $%F1$1 >F ).4F 1%+&H& )&,1%+ >$G4%& =%+G&,1F )4%+%+ =*+4%&1&>F ^& $0.>&$GF =,+4H.1.%$fN +@&)+,1 >*&,&> *$ . 1%+&H+ )&,1%+ >$G4%& Q"bR3 F4B/1(, $+14/0,%>
C, )&$(,.01&>4* )&O+%+,[&$* $* )4%+%&& 1.%$>&>+N +HD.*&$ =4*H.,$%F >.,1&,4F 0F %+=%+G&,1+ . =%.@.>$%+ =%&,1%+ >*&,&>&+,&3 ;&$(,.01&>4* +01+ 04(+%$1 )+ 0&H=1.H$1.*.(&$ &,01$*$1F $>41N %+=%+G+,1$1F =%&, )&0=,++ ^& )4%+%+ 1.%$>&>F >4 >$%$>1+% =*+4%&1&>N =%+>4H ^& =%&, 0+H,+ )+ ]&=.f+H&+ 0+@+%FN 1$]&>$%)&+N *$ =$>&+,[& >$%+ =%+G&,1F )+ .D&>+& O$>1.%& )+ %&0>N %+=%+G+,1$[& H$& O%+>@+,1 =%&, &,1+%@+,[&& >]&%4%(&>$*+ %+>+,1+N $O+>[&4,& H$*&(,+ =%++f&01+,1+ 0$4 $O+>[&4,& >$%+ )+1+%H&,F %+=$40 =%+*4,(&1 *$ =$1 Q"ZR3 <, 014)&4 D$G$1 =+ $,$*&G$ &H$(&01&>F $ +HD.*&+& =4*H.,$%+ =%&, >.H=41+%' 1.H.(%$O&+ 0=&%$*F $ $%F1$1 >F *$ =$>&+,[&& >4 +HD.*&+ =4*H.,$%FN )4%+%+$ 1.%$>&>F )+ 1&= =*+4%&1&> +01+ 0+H,&O&>$1&@ H$& O%+>@+,1F *$ >+& >4 &,O$%>1 =4*H.,$%N >$%+ %+=%+G&,1F $=%.f&H$1&@ S?{ )&,1%+ >$G4%&3 ;&,1%+ >$G4%&*+ )+ &,O$%>1 =4*H.,$%N aS{ &,1+%+0+$GF *.D&& &,O+%&.%& =4*H.,$%&N >++$ >+ )+1+%H&,F ^& *.>$*&G$%+$ )4%+%&& 1.%$>&>+ B, 1+%&1.%&4* %+0=+>1&@ Q"_R3 ;4%+%+$ 1.%$>&>F )+ 1&= =*+4%&1&> )&, &,O$%>14* =4*H.,$% +01+ >$4G$1F )+ &%&1$[&$ =*+4%$*F =$%&+1$*FN )+1+%H&,$1F )+ &,O*$H$[&$ *.>$*&G$1F *$ ,&@+*4* =*+4%+& @&0>+%$*+ 04D&$>+,1+N >$%+ $>.=+%F 0+(H+,14* =4*H.,$% $O+>1$1 )+ +HD.*&+3 / =$%1+ )&,1%+ =$>&+,[& )+0>%&4 . )4%+%+ )+ 1&= >+,1%$*N >$%+ $% =41+$ O& +f=*&>$1F =%&, )&01+,0&$ $%1+%+& =4*H.,$%+ >4 $>1&@$%+$ H+>$,.%+>+=1.%&*.% $%1+%&$*& Q"aR3 !+%"%", *" ),+J> 0"/$1,J()>
;4%+%+$ =.$1+ 0F $=$%F B, ,+.=*$G&& =4*H.,$%+N =*+4%$*+ 0$4 $*+ =+%+1+*4& 1.%$>&>3 2+*+ H$& &H=.%1$,1+ >$4G+ $*+ )4%+%&& *$ =$>&+,[&& >4 >$,>+% D%.,].=4*H.,$% $@$,0$1 04,1 H+1$01$G+*+ .0.$0+ 1.%$>&>+ QSb{RN 14H.%$ 9$,>.$01 QS"{R ^& +f1&,)+%+$ ,+.=*$G&+& *$ ,&@+*4* =+%+1+*4& 1.%$>&> Q?"{R Q"\R3 ;4%+%+$ )+ >$4GF ,+.=*$G&>F =.$1+ O& B,>$)%$1F B, ).4F 0&,)%.$H+ =%&,>&=$*+d 0&,)%.H4* )4%+%.0 $>41 ^& 0&,)%.H4* )4%+%.0 >%.,&>3
aY
P&,)%.H4* )4%+%.0 $>41 +01+ B, (+,+%$* )$1.%$1 4,+& &,k4%&& $>41+ 0+>4,)$%+ &,@$G&+& ,+.=*$G&>+d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aZ{ )&,1%+ =$>&+,[&& >4 >$,>+% =%+G&,1F 0&,)%.H )4%+%.0 >%.,&>N 0+>4,)$% 0&,)%.$H+*.% ,.>&>+=1&@+ 0$4 ,+4%.=$1&>+ Q"XR3 ;4%+%+$ 1.%$>&>F )&, >$,>+%4* =4*H.,$% +01+ O%+>@+,1 . )4%+%+ &H=%+>&0FN )&O4GFN 04%)FN *$ ,&@+*4* ]+H&1.%$>+*4& $O+>1$1N 0+H,&O&>A,) =%+G+,[$ &,1+%+0F%&& =*+4%$*+ 0$4 &,O&*1%$%+$ H$*&(,F $ =+%+1+*4& 1.%$>&>3 2*$0&>$ 14H.%F 9$,>.$01 $ $=+f4*4& =4*H.,$% =.$1+ +@.*4$ >4 )4%+%+ >4 .%&(&,+$ *$ ,&@+*4* =*+f4*4& D%$]&$* >4 &,@$G&+ ,+.=*$G&>FN $@A,) >$%$>1+%&01&>F *.>$*&G$%+$ B, 4HF%3 9$>&+,[&& >4 >$,>+% =4*H.,$% ^& )4%+%+ 1.%$>&>F $0.>&$GF O%+>@+,1 ^& $*1+ 0&H=1.H+ 0$4 0+H,+ &H=.%1$,1+d )&0=,++N 140+N ]+H.=1&G&+N 0>F)+%+ B, (%+41$1+ Q?YR3 #+G.1+*&.H4* =*+4%$* H$*&(, +01+ . ,+.=*$G&+ >4 4, =%.(,.01&> )+.0+D&1 )+ 0+@+%N >4 . H+)&$,F $ 04=%$@&+[4&%&& )+ $=%.f&H$1&@ "? *4,&3 54H.%$ $%+ .%&(&,+$ *$ ,&@+*4* =*+4%+& =$%&+1$*+ )$% =.$1+ $O+>1$ 0+>4,)$% =*+4%$ @&0>+%$*F3 C, =*40N H+G.1+*&.H4* $%+ . =%.D$D&*&1$1+ B,$*1F )+ )&0+H&,$%+ *$ ,&@+*4* 0+%.$0+*.% 0=%+ =*+4%$ >.,1%.*$1+%$*F3 ;4%+%+$ %+=%+G&,1F 4, 0&H=1.H &H=.%1$,1 B, H+G.1+*&.H4* =*+4%$*N =.$1+ $@+$ 4, >$%$>1+% )&O4G ^& *.>$*&GF%& *$ )&01$,[F &$% 1%$1$H+,14* $>+01+&$ %+=%+G&,1F . =%.@.>$%+ =+,1%4 >*&,&>&$, Q?"R3 ;+1+%H&,F%&*+ =*+4%$*+ H$*&(,+ $=$% B, ?Z{ )&,1%+ >$G4%&*+ )+ >$%>&,.H4* =4*H.,$%N B, XZ{ )&,1%+ >$G4%&*+ )+ H+G.1+*&.H ^& =A,F *$ SY{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
`.*&*+ )+ >.*$(+, 0+ >.H=*&>F O%+>@+,1 >4 =*+4%&1F ^& %+@F%0$1+ =*+4%$*+N )+ H4*1+ .%& *$ >A[&@$ $,& )+ +@.*4[&+ $ >.*$(+,.G+&3 P4,1 $O+>1$[& $=%.f&H$1&@ k4HF1$1+ )&,1%+ =$>&+,[&& >4 *4=40 +%&1+H$1.0 0&01+H&>N SY{ )&,1%+ =$>&+,[&& >4 (%$,4*.H$1.GF x+(+,+%N SY{ )&,1%+ >$G4%&*+ )+ 0&,)%.H 2]4%('P1%$400 ^& Z{ )&,1%+ =$>&+,[&& >4 =.*&$%1%&1F %+4H$1.&)F Q?YR3 ;+^& %+@F%0$14* =*+4%$* +01+ )+ 1&= +f4)$1N 4,+.%& =$>&+,[&& ,4 $>4GF ,&>& )4%+%+ 1.%$>&>FN ,&>& )&0=,++3 C, =.*&$%1%&1$ %+4H$1.&)F %+@F%0$14* =*+4%$* +01+ B, >$,1&1$1+ %+)40FN =%+).H&,$,1
a"
=+ =$%1+$ )%+$=1F ^& $%+ >$%$>1+%&01&>N *$ $,$*&G$ D&.>]&H&>FN 4, ,&@+* %+)40 $* (*&>.=*+4%&+&N =l 0>FG41N ,&@+* %&)&>$1 $* *$>1&>')+]&)%.(+,$G+& ^& 1&1%4 >%+0>41 $* O$>1.%4*4& %+4H$1.&)3 7+@F%0$14* =*+4%$* B, *4=404* +%&1+H$1.0 0&01+H&> +01+ O%+>@+,1 D&*$1+%$*N >$%$>1+%&G$1 =%&, *&HO.>&1.GFN .>$G&.,$* ]+H.%$(&>3 / =$%1+ )&,1%+ =$>&+,[& =.1 $0.>&$ ^& $*1+ )+1+%H&,F%& =4*H.,$%+N >$ )+ +f+H=*4 ,.)4*&& %+4H$1.&G&N >4 41&*&1$1+ B, O.%H4*$%+$ )&$(,.01&>4*4& Q""R3 C, $,4H&1+ 0&14$[&&N O%+>@+,1 B, =.*&$%1%&1$ %+4H$1.&)FN =*+4%&1$ 0$4 +O4G&4,&*+ =*+4%$*+ ,4 ,+>+0&1F 1%$1$H+,1N +@.*4A,) >4 %+G.*4[&+ 0=.,1$,FN B, >A1+@$ *4,&3 8,1&&,O*$H$1.$%+*+ ,+01+%.&)&+,+ =.1 O& O.*.0&1+ >4 %+G4*1$1+ D4,+ B, >.,1%.*4* )4%+%&& =*+4%&1&>+3 C, 0&14$[&&*+ >4 >.,0+>&,[+ >*&,&>+ H$& &H=.%1$,1+ =.1 O& O.*.0&[& >4 +O+>1+ D4,+ >.%1&>.01+%.&G&&3 6f&01F >]&$% %$=.%1F%& $*+ O.*.0&%&&N >4 %+G4*1$1+ =.G&1&@+N $ >.%1&>.01+%.&G&*.% >4 $)H&,&01%$%+ &,1%$=*+4%$*FN B, >$G4%& %+G&01+,1+ *$ 1%$1$H+,1N )+ +O4G&4,& =*+4%$*+ $0.>&$1+ >.*$(+,.G+*.% Q??R3 !+%"%", *" ),+J> (,.%/-"0>
5.%$>.0>.=&$ ^& 1.%$>.1.H&$ 04,1 H+1.)+ )&$(,.01&>+ ^& 1+%$=+41&>+ &,@$G&@+N ,+>+0$%+ O%+>@+,1 B, =$1.*.(&$ =4*H.,$%F3 5.%$>.0>.=&$ +01+ 4,+.%& ,+>+0$%F =+,1%4 )&$(,.01&>4* +O4G&4,&*.% =*+4%$*+ ^& +01+ >.,0&)+%$1F 1%$1$H+,14* 01$,)$%) =+,1%4 )+D%&)$%+$ >$@&1F[&& =*+4%$*+N $14,>& >A,) >$%$>1+%&01&>&*+ >.*+>[&&*.% =*+4%$*+ O$> >$ )%+,$k4* =*+4%$* 0F ,4 O&+ $=*&>$D&* 0$4 +O&>&+,13 5.%$>.0>.=&$ +01+ )+ $0+H+,+$ 41&*F B, %+$*&G$%+$ D&.=0&&*.% =*+4%$*+ ^& =4*H.,$%+3 5.%$>.1.H&$ +01+ . H+1.)F H4*1 H$& &,@$G&@FN %+=%+G+,1A,) =%.>+)4%$ 01$,)$%) B, %+G+>[&$ =4*H.,$%F 0$4 )+>.%1&>$%+3 8>+01+ =%.>+)4%& 04,1 4%H$1+ O%+>@+,1 )+ ,+@%$*(&$ &,1+%>.01$*F >%.,&>FN H$,&O+01$1F =%&, )4%+%+ =+%0&01+,1F D&,+ *.>$*&G$1F *$ ,&@+*4* G.,+& )+ &,1+%@+,[&+N H$& $*+0 >A,) 0'$ %+$*&G$1 ^& %+G+>[&+ >.01$*F3 P14)&& H$& @+>]& $%$1F >F S_{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ %+$*&G$1 1.%$>.1.H&+ $>4GF )4%+%+ =+%0&01+,1F 0$4 )&0>.,O.%1 *$ ,&@+*4* G.,+& 1.%$>&>+ &,1+%+0$1+N 1&H= )+ S'"\ *4,& Q?SR3 8*1+ %+G4*1$1+N =4D*&>$1+ B, ?YYbN $%$1F >F $=%.f&H$1&@ ZY{ )&,1%+ =$>&+,[&& 04=4^& &,1+%@+,[&+& $>4GF 0&,)%.H )4%+%.0 =.01' 1.%$>.1.H&+3 8>+01$ %+=%+G&,1F . >.,)&[&+ >%.,&>F ^& *$ $=%.f&H$1&@ SY{ )&,1%+ =$>&+,[& ^& =+%0&01F 4,+.%& 1&H= )+ b'Z $,& )4=F .=+%$[&+3 -$ H$k.%&1$1+$ 04D&+>[&*.% >4 0&,)%.H )4%+%.0 =.01'1.%$>.1.H&+N )4%+%+$ +01+ 4^.$%F ^& &,O*4+,[+$GFN )+ .D&>+&N ,+0+H,&O&>$1&@ >$*&1$1+$ @&+[&&3 -$ 4, 04D(%4= H&> )+ =$>&+,[& )4%+%+$ =.$1+ O& )+0>%&0F >$ . )&G$D&*&1$1+ %+$*F3 #+>$,&0H4* +f$>1 $* 0&,)%.H4*4& )4%+%.0 =.01'1.%$>.1.H&+ ,4 +01+ =+ )+=*&, >4,.0>41 )$%N )$1+*+ >4H4*$1&@+ 04(+%+$GF . >.HD&,$[&+ B, =%.=.%[&& @$%&$D&*+ $ )4%+%&& ,+4%.=$1&>+ ^& ,.,' ,+4%.=$1&>+ QH&.O$0>&$*+R3 2$4G$ +01+ >+* H$& =%.D$D&* 1%$4H$&G$%+$ ,+%@4*4& &,1+%>.01$* B, 1&H=4* =%.>+)4%&&3 -$ =$>&+,[&& *$ >$%+ )4%+%+$ ,4 >$4G+$GF )&G$D&*&1F[&N H$,$(+H+,14* $>+01+&$ +01+ )+ .D&>+& >.,0+%@$1.% Q?bR3 7+G4*1$1+ =4D*&>$1+ B, *&1+%$14%F $%$1F >F $=%.f&H$1&@ X{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ =%$>1&>$1 1.%$>.1.H&+N 04O+%F )+ )4%+%+ >%.,&>F >$%+ ,+>+0&1F $,$*(+G&+ G&*,&>FN D*.>$k+ ,+%@.$0+ 0$4 $)%+0$%+$ >F1%+ >*&,&>& 0=+>&$*&G$1+ B, >.,1%.*4* )4%+%&& Q?ZR3 9*+4%.)+G$ %+=%+G&,1F &,)4>+%+$ &$1%.(+,F $ $)+%+,[+& =*+4%+& =$%&+1$*+ ^& =*+4%+& @&0>+%$*+ =%+@+,&%+$ $=$%&[&+&=%&, +O4G&4,&*.% 0$4 =,+4H.1.%$f4*4& %+>4%+,13 =+,1%4 9*+4%.)+G$ 0+ %+$*&G+$GF H+1.)+ =*+4%$*+ >]&H&>+N%+>4%+,1+ =%&, &,1%.)4>+%+$ B, >$@&1$1+$ =*+4%$*F $ 4,4& $(+,1 0>*+%.G$,1N 0$4 =%&, H+1.)+ >]&%4%(&>$*+N =%&, $D%$G&4,+ =*+4%$*FN $>+01+$ )+1+%H&,A,) &,O*$H$[&+ &,1+,0F >$%+ 0+ @&,)+>F >4 O&D%.GF ^& $)+%+,[FN *$ ,&@+*4* =*+4%+&3 7+G4*1$1+*+ 014)&&*.% >*$0&>+ $%$1F >F =+01+ _Y{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ =%$>1&>$1 =*+4%.)+GF $>4GF )4%+%+ H.)+%$1F 0$4 0+@+%F )4=F &,1+%@+,[&+ Q?_R3 8>+01+$ 04,1
a?
>.,O&%H$1+ )+ %+G4*1$1+*+ 014)&&*.% H$& ,.&N >$%+ $%$1F >F )4%+%+$ %+=%+G&,1F >.H=*&>$[&$ >+$ H$& O%+>@+,1 %$=.%1$1F )+ =,+4H.*.(& B, =*+4%.)+GFN &,)&O+%+,1 )+ $(+,14* 0>*+%.G$,1 O.*.0&1 Q?aR3 9*+4%+G&+ =$%$=,+4H.,&>F 6H=&+H =*+4%$*
6HD.*&+ =4*H.,$%F
2$4G+ &$1%.(+,+ Q1.%$>.0>.=&$N
;+1+%H&,F%& =4*H.,$%+ B,
>.*$(+,.G+
T+.=*$G&& =4*H.,$%+r =*+4%$*+
9,+4H.1.%$f
;4%+%+$ )+ >$4GF =4*H.,$%Fr%+0=&%$1.%&+
8,$*(+G&+ O$%H$>.*.(&>F
T.,'.=&.&)+ Q8:TPN +1>R
/=&.&)+
8)k4@$,1+ B, $,$*(+G&+d - 8,1&)+=%+0&@+ - 8,1&>.,@4*0&@$,1+ - 8(.,&^1& z?'$)%+,+%(&>& - 2$,$D&,.&G& - 8,1$(.,&^1& T#;8 - 2.%1&>.01+%.&G&
8,$*(+G&+ &,1+%@+,[&.,$*F
`*.>$)$ ,+%@.$0F
2.%).1.H&+
8,$*(+G&+ &,1%$=*+4%$*F
T+4%.H.)4*$%+ T+4%.$D*$[&+
7$)&.1+%$=&+
J&(3 "3 61&.*.(&$ ^& H$,$(+H+,14* )4%+%&& )&, =$1.*.(&$ %+0=&%$1.%&+ <&'>A'G''C* H/>/(*H*>?@C@' +@&*&'' W> G/?)C)('/ &*.G'&/?)&'* h# 5*&/G'/ "/&H/A)C)('AF 7+>.H$,)F%&*+ $>14$*+ =+,1%4 >.,1%.*4* )4%+%&& &,)&O+%+,1 )+ +1&.*.(&+ 0+ O4,)$H+,1+$GF =+ =%&,>&=&&*+ H+)&>&,+& D$G$1+ =+ ).@+G&N $@A,) B, @+)+%+ $)H&,&01%$%+$ =%.H=1F $ 1%$1$H+,14*4& $)+>@$1N >4 D+,+O&>&& ).@+)&1+ I& >4 +O+>1+ $)@+%0+ H&,&H+N B, ).G+ .=1&H+N $)$=1$1+ >$G4*4&3
aS
/%($,&G$[&$ #.,)&$*F $ PF,F1F[&& $ &,1%.)40 >.,>+=14* )+ 0>$%F $ $,$*(+G&+& >$%+ =%+04=4,+ $)H&,&01%$%+$ =%.H=1F $ H+)&>$[&+& 0=+>&O&>+ B, .%)&,+$ >%+^1+%&& (%$)4$*+ $ =.1+,[&$*4*4& $,$*(+G&> =A,F *$ >.,1%.*4* )4%+%&&d ,.,.=&.&)+ Q+f3 $0=&%&,FN =$%$>+1$H.*RN B, >$G )+ ,+>+0&1$1+N .=&.&)+ 4^.$%+ Q>.)+&,FRN B, >$G )+ ,+>+0&1$1+N .=&.&)+ =41+%,&>+ QH.%O&,FR3 9+,1%4 .D[&,+%+$ +O+>1+*.% .=1&H+ )+ >.,1%.* $* )4%+%&&N H+)&>$H+,1+*+ 1%+D4&+ $)H&,&01%$1+ H$& )+(%$DF )4=F 4, .%$% O&f Q*$ O&+>$%+ S'_ .%+RN )+>A1 *$ ,+@.&+3 8>+$01F $D.%)$%+ B, 1%+& 1%+=1+N >.,01A,) B, $)H&,&01%$%+$ $,$*(+G&>4*4& =.1%&@&1N B, ).G$ =.1%&@&1FN *$ 1&H=4* =.1%&@&1N %+=%+G&,1F @$%&$,1$ .=1&HF )&, =4,>1 )+ @+)+%+ $* %$=.%14*4& >.01rD+,+O&>&4 ^& $%+ . +O&>&+,[F )+ \Y'XY{ Q?\R3 ;+^& $>+$01F $D.%)$%+ $ O.01 >.,>+=41F &,&[&$* =+,1%4 )4%+%+$ )+ >$4GF ,+.=*$G&>FN >.,>+=14* $ O.01 +f1&,0 =+,1%4 )4%+%+ B, (+,+%$*N >4 =%+>F)+%+ =+,1%4 0&14$[&&*+ B, >$%+ ,4 +f&01F ).@+G& =%.@+,&,) )&, 014)&& >*&,&>+ )+ >$*&1$1+ >$%+ 0F 01$D&*+$0>F $*1+ &,)&>$[&&3 9+,1%4 )4%+%+$ 1.%$>&>F )+ &,1+,0&1$1+ 4^.$%F 0+ =.1 41&*&G$ $,$*(+G&>+ 4G4$*+N >$ $>+1$H&,.O+,4*N $>&)4* $>+1&*0$*&>&*&> 0$4 $*1+ $,1&&,O*$H$1.$%+ ,+01+%.&)&+,+N B, H.,.1+%$=&+ 0$4 B, )&@+%0+ >.HD&,$E&&3 6f=+%&+,[$ >*&,&>F $>14$*F 04(+%+$GF >F $,1&&,O*$H$1.$%+*+ ,+01+%.&)&+,+ 04,1 B, H.) =$%1&>4*$% +O&>&+,1+ =+,1%4 )4%+%+$ =*+4%&1&>FN )+^& $>+01 $0=+>1 ,4 $ O.01 1+01$1 =%&, 014)&& >*&,&>+ .D&+>1&@+ Q?YR3 /=&$>++*+ 4^.$%+ Q>$ )+ +f+H=*4 >.)+&,FN .f&>.).,N )&]&)%.>.)+&,FN +1>3R =.1 O& $)F4($1+ *$ 0>]+H$ 1+%$=+41&>FN )$>F >4 $,$*(+G&>+*+ 4G4$*+ ,4 0+ $1&,(+ [&,1$ =%.=40F B, >.,1%.*4* )4%+%&&3 ;.G+*+ @.% O& $)$=1$1+ &,)&@&)4$* B, O4,>E&+ )+ &,1+,0&1$1+$ )4%+%&& I& $ +O+>1+*.% $)@+%0+ $*+ $,$*(+G&>+*.% Q>$ )+ +f+H=*4 (%+$E$ 0$4 >.,01&=$E&$R3 /=&$>++ =41+%,&>+ Q>$ )+ +f+H=*4 O+,1$,&*N H.%O&,F 0$4 D4=%+,.%O&,FR =.1 O&N )+ $0+H+,+$N =%+0>%&0+N B, 0=+>&$* *$ =$>&+,E&& >4 $O+>E&4,& H$*&(,+3 /=&$>++*+ =.1 O& $)H&,&01%$1+ =+ >$*+ .%$*FN &,1%$@+,.0N 04D*&,(4$*N &,1%$1+>$* 0$4 1.=&>N B, O4,>[&+ )+ &,)&>$[&+ ^& )+ >$*+$ )+ $)H&,&01%$%+ )&0=.,&D&*F3 6f&01F =%+=$%$1+ >4 +*&D+%$%+ &H+)&$1F ^& =%+=$%$1+ >4 +*&D+%$%+ =%+*4,(&1FN =+,1%4 O&+>$%+ )&,1%+ $>+01+ >F&3 9%+=$%$1+*+ >4 +*&D+%$%+ &H+)&$1F ^& >+*+ >4 +*&D+%$%+ =%+*4,(&1F $4 +O+>1+ $,$*(+G&>+ +>]&@$*+,1+ Q?XR QSYR3 C, H.) &)+$* 0+ O.*.0+0> =%+=$%$1+ >4 +*&D+%$%+ ,.%H$*F =+,1%4 1&1%$%+$ &,&[&$*F $ ).G+& ^& =%+=$%$1+ >4 +*&D+%$%+ H.)&O&>$1F =+,1%4 1+%$=&$ )+ H+,[&,+%+ QS"R3 2A,) 04,1 O.*.0&1+ .=&$>++*+N 0+ %+>.H$,)F $0.>&+%+$ )+ *$f$1&@+ =+,1%4 $ =%+@+,& >.,01&=$[&$ &,)40F )+ $>+$01F >*$0F )+ H+)&>$H+,1+ Q"\R3 2+$ H$& &H=.%1$,1F >$*+ )+ $)H&,&01%$%+ =+,1%4 H.%O&,F %FHA,+ >$*+$ .%$*F3 8)H&,&01%$%+$ =$%+,1+%$*F =.$1+ O& ,+>+0$%FN B, >$G4* B, >$%+ ,4 +01+ 1.*+%$1F $)H&,&01%$%+$ .%$*F Q?YR3 C, >$G4* H.%O&,+&N >$ ^& B, >$G4* $*1.% .=&.&)+ =41+%,&>+N 0+ %+$*&G+$GF 1&1%$%+$ =A,F *$ .D[&,+%+$ D+,+O&>&4*4& 1+%$=+41&> ).%&1N ).G$ )+ &,&[&+%+ O&&,) 01$D&*&1F B, O4,>[&+ )+ 1%$1$H+,14* $,$*(+G&> $,1+%&.%3 M"*(),4"0." ,*H+;,0." N0 ,0,1-"J("
#+)&>$H+,1+*+ $)k4@$,1+ B, $,$*(+G&+ 04,1 H+)&>$H+,1+ >$%+ ,4H+)&>$H+,1+ $4 >$ +O+>1 =%&H$% $,$*(+G&$N )$% $4 +O+>1+ O$@.%$D&*+ B, H$,$(+H+,14* )4%+%&&3 8>+01+ ^&'$4 ).@+)&1 +O&>&+,[$ B, 0=+>&$* B, )4%+%+$ >%.,&>F3 8,1&)+=%+0&@+*+ 04,1 >+*+ H$& 41&*&G$1+N B, 0=+>&$* =+,1%4 )4%+%+$ ,+4%.=$1&>F QS?R3 #+>$,&0H+*+ >$%+ 01$4 *$ D$G$ +O+>1+*.% $,$*(+G&>+ $)k4@$,1+ 04,1 *+($1+ )+ >%+^1+%+$ )&0=.,&D&*&1F[&& $H&,+*.% *$ ,&@+*4* 0&,$=0+*.% ,+4%.,$*+N B, 0&01+H4* )+0>+,)+,1 )+ H.)4*$%+ $ 0+,0&D&*&1F[&& )4%+%.$0+N &,]&D&[&$ %+>$=1F%&& ,.%+=&,+O%&,+&N +O+>1+ 0+%.1.,&,+%(&>+ ^& ).=$H&,+%(&>+ Q"\R3
ab
: N")'1(,*(8'7(&( )*'/'/&'/( e &,>*4) $H&,+*+ 1+%[&$%+ Q$H&1%&=1&*&,$R 0$4 0+>4,)$%+ Q,.%1%&=1&*&,$N )+0&=%$H&,$R ^& $>[&.,+$GF =%&, &,]&D&[&$ %+>$=1F%&& 0+%.1.,&,+& ^& ,.%$)%+,$*&,+&N O&&,) +O&>&+,1+ B, 1%$1$H+,14* )4%+%&& ,+4%.=$1&>+ QSSR3 : N")'/%"7+&8'72")(&( e 04,1 $,$*.(& $& L8`8 Q+f3 ($D$=+,1&,N =%+($D$*&,R O.*.0&[& B, 1%$1$H+,4* )4%+%&& ,+4%.=$1&>+ >+,1%$*+ ^& =+%&O+%&>+3 6O+>14* )+ >.,1%.* $* )4%+%&& ,4 +01+ %+G4*1$14* $>[&4,&& $(.,&01+ =+ %+>+=1.%4* L8`8N >& $* $>[&4,&& =+ >$,$*+*+ )+ >$*>&4 @.*1$k )+=+,)+,1+ $*O$'?')+*1$N *$ ,&@+*4* >.$%,+*.% ).%0$*+ QSbR3 : NA%"'B)'' 2&=2:c 21*("(*A'/' e H$& >4,.0>41F +01+ >*.,&)&,$N 014)&$1F B, )4%+%+$ ,+4%.=$1&>F )&, $O+>[&4,&*+ ,.,'H$*&(,+3 8)H&,&01%$1F 0=&,$*N >*.,&)&,$ $%+ =%.=%&+1F[& $,$*(+G&>+ B, >$,>+% ^& +01+ H4*1 H$& +O&>&+,1F =+,1%4 )4%+%+$ ,+4%.=$1&>F )+>A1 =+,1%4 )4%+%+$ ,.>&>+=1&@F QSZRN )$% +01+ )&O&>&* )+ 1.*+%$1 )+ >F1%+ =$>&+,[&& @A%01,&>&3 : N")2A%"'B)'' *(/(,)%*'&%* >:9()'&:;:28,2*)2) D>U;NE e =.1 O& O.*.0&[& B, )4%+%+$ ,+4%.=$1&>F $@A,) B, @+)+%+ >F %+>+=1.%&& T#;8 04,1 &H=*&>$[& B, H.)&O&>F%& *$ ,&@+*4* 0&01+H4*4& ,+%@.0 >+,1%$* >$%+ 01$4 *$ D$G$ H+>$,&0H+*.% )4%+%&& >%.,&>+ ^& H.)4*+$GF H+>$,&0H+*+ .=&.&)&>+ QS_R3 •+1$H&,$ +01+ 4, $,+01+G&> =$%+,1+%$* (+,+%$* >$%+ =.$1+ O& O.*.0&1 B, ).G+ 04D' $,+01+G&>+ =+,1%4 >.HD$1+%+$ )4%+%&&N B, 0=+>&$* *$ =$>&+,[&& >4 1.*+%$,[F *$ .=&$>++ QSaR3 : L%*)'/%8)(*%'4'' =.1 O& 41&*&G$[& >$ $)k4@$,[& *$ H+)&>$[&$ $,$*(+G&>F B, >$,>+%4* =4*H.,$%N B, 0=+>&$* =+,1%4 )4%+%+$ ,+4%.=$1&>FN >+O$*++ B, >.,1+f14* >%+^1+%&& =%+0&4,&& &,1%$>%$,&+,+N )4%+%+ .0.$0FN )4%+%& @&0>+%$*+ >$4G$1+ )+ )&01+,0&$ >$=04*+& )+ .%($,N *&HO+)+HN +1>3 P4,1 =%+O+%$[& >.%1&>.01+%.&G&& >4 +O+>1+ H&,+%$*.>.%1&>.&)+ %+)40+N H$& >4,.0>41F O&&,) )+f$H+1$G.,$N >$%+ $%+ ^& $@$,1$k4* 4,4& 1&H= )+ B,k4HF1F[&%+ H$& *4,(3 9+,1%4 =%+@+,&%+$ +O+>1+*.% $)@+%0+N 0+ @.% O.*.0& ).G+*+ H&,&H+ >$%+ )+1+%H&,F +O+>1+ 0&H=1.H$1&>+ Q"\R3 l# <&)A*+@&' '>?*&I*>S')>/C* W> A)>?&)C@C +@&*&'' A1/),*, 0"%;/,#>
`*.>$)$ ,+%@.$0F =$%$@+%1+D%$*F %+=%+G&,1F . 1+],&>F 0&H=*FN *&=0&1F )+ >.H=*&>$[&& &H=.%1$,1+N %+$*&GA,) $,$*(+G&$ %+(&.,$*F %+@+%0&D&*FN B, )4%+%&*+ 1.%$>&>+ )+ >$4GF @$%&$1F3 801O+*N 1+],&>$ =.$1+ O& O.*.0&1F $1A1 =+,1%4 )4%+%+$ 1.%$>&>F $>41FN $0.>&$1F B, O%$>14%& >.01$*+ 0$4 =.01'1.%$>.1.H&+N >A1 ^& =+,1%4 )4%+%+$ 1.%$>&>F >%.,&>F3 5+],&>$ D*.>$k4*4& ,+%@.0 *$ ,&@+*4* ,+%@&*.% &,1+%>.01$*& =%+04=4,+ &,k+>1$%+$ *.>$*F )+ $,+01+G&>N )+ =%+O+%$1 04D >.,1%.* +>.(%$O&> QS\R3 9.$1+ O& O.*.0&1F *&).>$&,$ "'?{ 0$4 D4=&@$>$&,$ YN?Z'YNZ{ QSXR3 `*.>$)$ ,+%@.$0F =.$1+ O& 41&*&G$1F =+,1%4 >.,1%.*4* )4%+%&& )4=F &,1+%@+,[&& >]&%4%(&>$*+ B, )&O+%&1+ $O+>[&4,& %+0=&%$1.%&&N >4 %.* >4%$1&@ 0$4 +f=*.%$1.%N =.01'1.%$>.0>.=&+N =.01'1.%$>.1.H&+N =%+>4H ^& B, $O+>[&4,&*+ %+0=&%$1.%&& )&, 1%$4H$1&0H+ 1.%$>&>+ Q)+ +f+H=*4 O%$>14%& >.01$*+ H4*1&=*+ >4 =,+4H.1.%$fR 0$4 =+,1%4 $O+>[&4,& =4*H.,$%+ >$%+ $0.>&$GF 0&,)%.$H+ )4%+%.$0+ >%.,&>+ Q)+ +f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
aZ
.=&.&)+N O&+ $ D*.>$)+& ,+%@.$0+ =$%$@+%1+D%$*+ >.,1&,4+ >4 $,+01+G&> *.>$*3 8>.*. 4,)+ $>+01+ 1+],&>& ,4 04,1 =.0&D&*+N 0$4 04,1 >.,1%$&,)&>$1+N +01+ %+>.H$,)$1F $)H&,&01%$%+$ )+ .=&.&)+ &,1%$1+>$* 0$4 D*.>$)$ ,+%@.$0F &,1+%>.01$*FN B, >&4)$ )4%$1+& &,04O&>&+,1+ $ $,$*(+G&+&N >$%+ O$>+ ,+>+0$%F $)F4($%+$ $,$*(+G&+& 0&01+H&>+ QbYR3 70,1-"J(, $%(0 ."?0()( )?(%+%-(),1"
5+],&>& )+ $,$*(+G&+ &,@$G&@+N &H=*&>A,) H+1.)+ >]&%4%(&>$*+N =.1 O& ,+>+0$%+ B, >$G4%& 0+*+>[&.,$1+N H$& $*+0 *$ =$>&+,[&& >4 ,+.=*$G&&N >$ )+ +f+H=*4 B, H+G.1+*&.H3 C, $>+01 0+,0N >.%).1.H&$ 0+ $)%+0+$GF 1%$1$H+,14*4& 4,+& )4%+%& 4,&*$1+%$*+ >]&$% H4*1&0+(H+,1$%+ ^& =%+04=4,+ B,1%+%4=+%+$ O$0>&>4*4*4& 0=&,.'1$*$H&> O&+ =+ >$*+ =+%>41$,$1FN O&+ =+ >$*+ 0$,(+%A,)FN *$ ,&@+* 1.%$>$* 04=+%&.%3 #+1.)$ +01+ +O&>&+,1F =+,1%4 $,$*(+G&$ >.,1%.*$1+%$*F3 2.%).1.H&$ >+%@&>$*F =+%>41$,$1F =+%H&1+ B,1%+%4=+%+$ 1%$>14*4& 0=&,.1$*$H&> *$ ,&@+*4* 2"r2? >4 $D.*&%+$ 0+,G$[&+& )4%+%.$0+ >.,1%.*$1+%$*+3 5+],&>$ +01+ +f+>41$1F >4 $,+01+G&+ *.>$*F 04D >.,1%.* O*4.%.0>.=&> 0$4 >.H=41+%'1.H.(%$O&>3 2.%).1.H&$ 1.%$>$*F B,$*1$ +01+ OF>41$ )+ .D&>+& 04D $,+01+G&+ (+,+%$*F *$ D.*,$@&& >4 0&,)%.$H+ )4%+%.$0+ 0&14$1+ 04D ,&@+*4* 5\N =.$1+ O& 4,&*$1+%$*F 0$4 D&*$1+%$*F ^& =%+04=4,+ *$H&,+>1.H&+ *$ ,&@+* 5?'5b3 6O+>14* >.%).1.H&+& >4=%&,)+ ^& %+)4>+%+$ 0+,G$[&+& 1$>1&*+ ^& 1+%H&>+N $0.>&$1F $,$*(+G&+&3 / =%.D*+HF B, &,)&>$[&$ )+ +O+>14$%+ $ >.%).1.H&+& +01+ +f&01+,1$ 4,+& D&*$1+%$*&1F[& $ 0&,)%.H4*4& )4%+%.0N >A,) H+1.)$ =.$1+ )+1+%H&,$ . $>>+,14$%+ $ )4%+%&& &=0&*$1+%$* >.%).1.H&+& +O+>14$1+N B, 0&14$[&$ B, >$%+ +f&01$ 4, O.,) )+ )+G$O+%+,1$%+ *$ .%&(&,+$ )4%+%&& %+0=+>1&@+3 8>+*$^& H+>$,&0H =.$1+ )+1+%H&,$ ^& 14*D4%F%& 0O&,>1+%&+,+ =A,F *$ %+1+,[&+ )+ 4%&,F Qb"R3 7+G4*1$1+ )+.0+D&1 )+ =%.H&[F1.$%+ 0'$4 .D[&,41 B, >.%).1.H&$ %+$*&G$1F *$ =$>&+,[&& >4 )4%+%+ )+ =+%+1+ 1.%$>&> Qb?R3 5+],&>$ =+%>41$,$1F +01+ =%+O+%$1F =+,1%4 +O+>14$%+$ >.%).1.H&+&N H+1.)$ >]&%4%(&>$*F )+0>]&0F O&&,) %+G+%@$1F =$>&+,[&*.% >$%+ ,4 =.1 01$ B, =.G&[&+ 04=&,F 0$4 *$ >$%+ ,4 0+ =.$1+ %+$*&G$ >+$ )&,1A& QbSR3 ;4%+%&*+ *$ *$ ,&@+*4* =+%+1+*4& 1.%$>&> )+1+%H&,$1+ )+ &,@$G&$ 14H.%$*F =.1 O& 1%$1$1+ ^& =%&, %&G.1.H&+N B,1%+%4=+%+$ %F)F>&,&*.% ).%0$*+ 0+,G&1&@+N %+$*&G$1F 0+(H+,1$% 0$4 H4*1&0+(H+,1$%N =%&, 0+>[&.,$%+ >]&%4%(&>$*FN ,+4%.*&GF >]&H&>F Q)+ +f+H=*4 &,01&*$%+ )+ O+,.* B, 0=$[&4* +=&)4%$* 0$4 &,1%$1+>$*R 0$4 $D*$[&+ >4 %$)&.O%+>@+,[F QbbR3 #+1.)$ =.$1+ O& +O&>&+,1F B, >.,1%.*4* 0&,)%.$H+*.% )4%+%.$0+ *.>$*&G$1+ %+O%$>1$%+3 70,1-"J(, (0.%,$1"+%,1>
8,$*(+G&$ &,1%$=*+4%$*F %+=%+G&,1F . H+1.)F %$=&)F )+ %+)4>+%+ $ +f$>+%DF%&*.% $>41+ $*+ )4%+%&& )+ >$4GF ,+.=*$G&>F3 #+1.)$ =.$1+ O& $=*&>$1F 04D O.%HF )+ &,k+>1$%+ B, D.*40 0$4 =%&, &,O4G&+ >.,1&,4F ^& =.$1+ O& B,>+%>$1F $14,>& >A,) D*.>$)$ ,+%@.$0F >*$0&>F ,4 =%.)4>+ %+G4*1$1+*+ $^1+=1$1+ B, >.,1%.*4* )4%+%&&N )$1.%&1F +f1&,)+%&& 14H.%&& 0$4 =$%1&>4*$%&1F[&*.% $,$1.H&>+ >$%+ )+1+%H&,F 4, $=.%1 *.>$* &,04O&>&+,1 =+,1%4 04D01$,[$ $,$*(+G&>F3 5+],&>$ &H=*&>F $)H&,&01%$%+$ *.>$*F $ $,+01+G&>4*4& =%&, >$1+1+% =.G&[&.,$1 B, >$@&1$1+$ =*+4%$*FN =+,1%4 $,+01+G&+%+$ ,+%@&*.% )&O4G&4,+$ $,+01+G&>4*4& =%&, =*+4%$ 8,$*(+G&$ &,1%$=*+4%$*F =.$1+&,1+%>.01$*&N O& 41&*&G$1F >$=%&, &,01%4H+,1 )&$(,.01&> &H=.%1$,1 =+,1%4=$%&+1$*F3 =%+)&>[&$ +O&>$>&1F[&& D*.>4*4& ,+4%.*&1&> =+%H$,+,1 QbZR3 6f&01F ^& 014)&& >$%+ $4 $%F1$1 >F $,$*(+G&$ &,1%$=*+4%$*F $%+ %+G4*1$1+ *&H&1$1+ Qb_R3 8>+01 1&= )+ $,$*(+G&+ =.$1+ $0.>&$ ^& >.H=*&>$[&& =%+>4H =,+4H.1.%$f4* 0$4 +O+>1+ 1.f&>+ $*+ $,+01+G&>4*4&3
a_
="?0()( 0"+%/)?(%+%-(),1" *" )/0.%/1 ,1 *+%"%((
5+],&>&*+ ,+4%.>]&%4%(&>$*+ )+ >.,1%.* $* )4%+%&& =.1 O& $@41+ B, @+)+%+ >A,) 1.$1+ =%.>+)4%&*+ >.,0+%@$1.$%+ $4 O.01 +=4&G$1+3 T+4%.H.)4*$%+$ =%+04=4,+ 01&H4*$%+$ =%+O+%+,[&$*F $ O&D%+*.% ,+%@.$0+ ,.,',.>&>+=1&@+ >4 +O+>1+ )+ $1+,4$%+ $ )4%+%&&3 P1&H4*$%+$ >+%+D%$*F =%.O4,)F +01+ +O&>&+,1F B, >$G4%& 0+*+>[&.,$1+ )+ )4%+%+ 1.%$>&>F =%&, H+>$,&0H ,.>&>+=1&@ 0$4 ,+4%.=$1&> QbaR3 9%.>+)4%&*+ ,+4%.$D*$1&@+ >+,1%$*+ =%+>4H >&,(4*.1.H&$ =.1 O& $=*&>$1+N H$& $*+0 *$ =$>&+,[& >4 . 0=+%$,[F )+ @&$[F O.$%1+ *&H&1$1FN >$ )+ +f+H=*4 B, H+G.1+*&.H4* =*+4%$* 0$4 D.$*$ H+1$01$1&>F3 -+G$%+$ %F)F>&,&*.% ,+%@.$0+ ).%0$*+N =%&, 1+%H.>.$(4*$%+ 0$4 *$0+%N B, G.,$ )+ +H+%(+,[F H+)4*$%FN H.)4*+$GF 1%$,0H&1+%+$ )4%+%&& ^& =.$1+ O& *4$1F B, >.,0&)+%$%+ B, 0&,)%.$H+*+ ,+4%.=$1&>+ Q?YR3 O,*(/."%,$(,
7.*4* %$)&.1+%$=&+& +01+ D&,+ 01$D&*&1 B, 1+%$=&$ >$,>+%4*4& =4*H.,$% &$% B, XY{ )&,1%+ >$G4%& $>+$01F H+1.)F +01+ $=*&>$1F ^& >4 &,1+,[&+ =$*&$1&@FN =+,1%4 $1+,4$%+$ >+*.% H$& &H=.%1$,1+ 0&H=1.H+d 140+$N )&0=,++$N ^& B, =%&H4* %A,) )4%+%+$ Qb\R3 6O&>&+,[$ %$)&.1+%$=&+& $H&,&01%$1+ B, 0>.= =$*&$1&@ $ O.01 $,$*&G$1F )+ . H+1$'$,$*&GF 2.]%$,+ =4D*&>$1F B, ?YY_3 7+G4*1$1+*+ $>+01+&$ $4 $%F1$1 >F ).G+*+ H$%& )+ %$)&$[&& 0+ $0.>&$GF H$& $*+0 >4 +O+>1+ 0+>4,)$%+ $>41+ Q)+ +f+H=*4 +0.O$(&1$ )+ &%$)&+%+RN ^& ,4 >4 . BHD4,F1F[&%+ B, 1&H= 0$4 &,1+,0&1$1+ $ $1+,4F%&& 0&H=1.H$1.*.(&+& 1.%$>&>+N B, >.H=$%$[&+ >4 ).G+*+ H$& %+)40+ QbXR3 /%&>4HN 01%$1+(&$ %$)&.1+%$=&+& =$*&$1&@+ =+,1%4 >$,>+%4* =4*H.,$% ,+%+G+>$D&* $ O.01 ^& +01+ 4, 04D&+>1 >.,1%.@+%0$1N )&, =4,>1 )+ @+)+%+ $* ).G+*.% 41&*&G$1+ ^& O%$>[&.,F%&& $>+01.%$3 <, 014)&4 =4D*&>$1 B, ?YY\ $ OF>41 . $,$*&GF .D&+>1&@F $ .=[&4,&*.% =$>&+,[&*.% &H=*&>$[& B, =%.>+04* )+ *4$%+ $ )+>&G&&*.% =%&@&,) $).=1$%+$ 4,+& $,4H&1+ 01%$1+(&& )+ %$)&.1+%$=&+ =$*&$1&@F3 <, >.H&1+1 )+ )+>&G&+ $ &,O.%H$1 =$>&+,[&& $04=%$ $@$,1$k+*.% ^& )+G@$,1$k+*.% *+($1+ )+ ).G$ %$)&.1+%$=+41&>F ^& )+ H.)$*&1$1+$ )+ O%$[&.,$%+ $ $>+01+&$3 84 +f&01$1N )&, $>+01 =4,>1 )+ @+)+%+N ).4F .=[&4,&d "a L} B, ).4F O%$>[&4,& @+%040 SX L} B, "S O%$>[&4,&3 ;&,1%+ =$>&+,[&& &H=*&>$[&N ZZ{ $4 $*+0 %+(&H4* 1+%$=+41&> *4,( >$%+ $ $@41 >$ $@$,1$k 4, >.,1%.* H$& D4, $* D.*&& ^& . 04=%$@&+[4&%+ H$& D4,F3 2+&*$*[& $4 $*+0 %+(&H4* 1+%$=+41&> 0>4%1N $0.>&$1 >4 4, >.,1%.* H$& D4, $* 0&H=1.H$1.*.(&+& ^& >.014%& H$& %+)40+3 9$>&+,[&& )&, $HD+*+ >$1+(.%&& $4 O.01 0$1&0OF>4[& 0F =$%1&>&=+ *$ =%.>+04* )+ *4$%+ $ )+>&G&+& 1+%$=+41&>+ QZYR3 -$ H.H+,14* $>14$* T%H2& L%&&(A( %= T21'%&%A'8)8 %+>.H$,)FN >$ 0>]+HF )+ 1%$1$H+,1 =+,1%4 %$)&.1+%$=&$ =$*&$1&@F B, >$,>+%4* =4*H.,$%N O&+ . 0&,(4%F ).GF )+ "Y L}N O&+ "a L} B, ).4F O%$>[&4,&N B, >$G4* =$>&+,[&*.% >4 01$140 )+ =+%O.%H$,[F H.)+%$1 0$4 0+@+% $O+>1$13 9+,1%4 =$>&+,[&& >4 4, 01$140 )+ =+%O.%H$,[F D4, 0+ =.$1+ *4$ B, >.,0&)+%$%+ 4, %+(&H %$)&.1+%$=+41&> D$G$1 =+ . ).GF H$& H$%+N O%$>[&.,$1F Q)+ +f+H=*4 S_L} B, "? O%$>[&4,&R Q"\R3 e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
aa
8,$*(+G&$ +=&)4%$*F 1.%$>&>F >4 $,+01+G&>+ *.>$*+ ^& .=&.&)+ +01+ >.,0&)+%$1F >$ (.*)' 01$,)$%) B, 1%$1$H+,14* )4%+%&& =.01'1.%$>.1.H&+N $@A,) B, @+)+%+ >F =+%H&1+ )+14D$%+$ =%+>.>+ >4 . H$& D4,F @+,1&*$[&+ ^& 0>$)+ &,>&)+,[$ 4,.% >.H=*&>$[&& =%+>4H $1+*+>1$G&$N =,+4H.,&$ ^& $=$%&[&$ )4%+%&& =.01'.=+%$1.%&& >%.,&>+3 2A,) $,$*(+G&$ +=&)4%$*F +01+ >.,1%$&,)&>$1F =.1 O& $=*&>$1+ 1+],&>& $*1+%,$1&@+ )+ $,$*(+G&+ *.>$*F3 / H+1.)F $*1+%,$1&@F >$%+ =+%H&1+ $1+,4$%+$ +O&>&+,1F $ )4%+%&& +01+ D*.>4* ,+%@.0 1.%$>&> =$%$@+%1+D%$*N =%&, &,O4G&$ =$%$@+%1+D%$*F >.,1&,4F $ $,+01+G&>4*4& *.>$* =%&, >$1+1+%N H+1.)F +O&>&+,1F B, >.,1%.*4* )4%+%&& =.01.=+%$1.% ^& H+,[&,+%+$ O4,>[&+& =4*H.,$%+3 C, $,4H&1+ 0&14$[&&N . 0&,(4%F &,k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b3 Z3 _3
a3
\3 X3
€4 x$,( €JN c]$,( mx3 P1%4>14%+ 0*.~*} $)$=1&,( =4*H.,$%} 01%+1>] %+>+=1.%0 &, 1]+mN*4,( =+%&=]+%}3 m.4%,$* .O 8==*&+).O9]}0&.*.(}3 ?YYS m4* "qXZQ"RdS\ZeXS3 •$==$(.)$ 25N 7$@& •3 5]+ %$=&)*} $)$=1&,( %+>+=1.%0 &, H$HH$*&$, $&%~$}0 $,) 1]+&% %+0=.,0+0 1. >]$,(+0 &, +f1%$@$0>4*$% O*4&) @.*4H+3 6f= 9]}0&.*3 ?YY_ m4*qX"QbRd_baeZb3 T&0]&,. 53 ;}0=,.+$d 4,)+%*}&,( H+>]$,&0H0 $,) 1%+$1H+,13 `% m 8,$+01]3 ?Y"" 8=% "q"Y_QbRdb_Seab3 -&(]1 7x3 9*+4%$* ;&0+$0+03 -&==&,>.11 x&**&$H0 “ x&*j&,0q ?YYa3 bZ_ =3 #.,1+0 mJN L$%>Š$'g$*+%. mN J+%%+% m3 6@&)+,>+ .O &,,+%@$1&., &, 1$*>'&,)4>+) =*+4%$* $)]+0&.,03 2]+013 ?YY_ P+=q"SYQSRdaY?eX3 P141+ 9N P.4j4= mN #+,G+* #N P$D$1.~0j& 7N L%.,) P3 8,$*}0&0 $,) 1%+$1H+,1 .O )&OO+%+,1 1}=+0 .O ,+4%.=$1]&> >$,>+% =$&,3 m 9$&, P}H=1.H #$,$(+3 ?YYS ;+>q?_Q_Rd""?SeS"3 m$>j0., #-N T+4G&* •#N 5].H=0., xxN P]$} ;•N €4 /N l$,0., 28N +1 $*3 5]+ D4%)+, .O >.HH4,&1}'$>‰4&%+) =,+4H.,&$ &, 0+,&.%0d %+04*10 .O $ =.=4*$1&.,'D$0+) 014)}3 2*&, :,O+>1 ;&03 ?YYb ;+> "qSXQ""Rd"_b?eZY3 `%$,)+,D4%( m8N #$%%&+ 5mN 2.*+} 2#N P&,(+% ;6N /D%.0j} ;PN •$=..% xTN +1 $*3 2*&,&>$* 9%+0+,1$1&.,N 9%.>+00+0 $,) /41>.H+0 .O 2$%+ O.% 9$1&+,10 ~&1] 9,+4H.>.>>$* 9,+4H.,&$3 m L+, :,1+%, #+)3 ?YYY P+=q"ZQXRd_S\eb_3 •.+(+*+,D+%( 2JTN ;&$>., 8lN `.**&(+% 253 9$%$=,+4H.,&> =*+4%$* +OO40&., $,) +H=}+H$3 7+0=&%$1&.,3 ?YY\qaZQSRd?b"eZY3
a\
"Y3 2.*&>+ L-N 24%1&0 8N ;+0*$4%&+%0 mN l+OO,+% mN -&(]1 7N -&11+,D+%( `N +1 $*3 #+)&>$* $,) 04%(&>$* 1%+$1H+,1 .O =$%$=,+4H.,&> +OO40&.,0”d 8, +@&)+,>+'D$0+) (4&)+*&,+3 2]+013 ?YYY />1 "q""\QbRd""Z\ea"3 ""3 L%&(.%&4 `;N #&]F+0>4 5N #&1%.O$, 23 9$1.*.(&+ =*+4%$*Fq 6)&1 m4,&H+$N :$^& ?YYa3 "?3 50>].== m'#N 7$H&'9.%1$ 7N T.==+, #N 801.4* 93 #$,$(+H+,1 .O 0=.,1$,+.40 =,+4H.1].%$fd 01$1+ .O 1]+ $%13 64% 7+0=&% m3 ?YY_ P+= "q?\QSRd_SaeZY3 "S3 •$*.H+,&)&0 :N #.0>].0 2N •.**&,1G$ 8N P&($*$ :N P1$1].=.4*.0 L5N 9$=&%&0 P8N +1 $*3 9,+4H.1].%$f'$00.>&$1+) =*+4%$* +.0&,.=]&*&$ &0 14H.4% ,+>%.0&0 O$>1.%'$*=]$' )+=+,)+,1 $,) $11+,4$1+) D} 01+%.&)03 7+0=&%.*.(}3 ?YY\ m$,q"SQ"RdaSe\3 "b3 :}+% gTN m.0]& 8€N 7}4 ml3 P=.,1$,+.40 =,+4H.H+)&$01&,4Hd $,$*}0&0 .O _? >.,0+>41&@+ $)4*1 =$1&+,103 #$}. 2*&, 9%.>3 ?YYX #$}q\bQZRdb"ae?"3 "Z3 ;+, 6f1+% 9-N @$, )+% l4**+ 5N •*.j J8N l4&0H$, #g3 8)@$,>+0 &, 1]+ )&$(,.0&0 $,) H$,$(+H+,1 .O $>41+ =4*H.,$%} +HD.*&0H3 5]%.HD 7+03 ?Y"b #$}q"SS P4==* ?dP"Ye "_3 "_3 l+ lN P1+&, #xN c$*1$ `N l$%$H$1& -`3 94*H.,$%} &,O$%>1&.,d 0=+>1%4H .O O&,)&,(0 ., H4*1&)+1+>1.% ]+*&>$* 253 m 5].%$> :H$(&,(3 ?YY_ #$%q?"Q"Rd"ea3 "a3 74D&, -m3 9$1].*.(} $,) =$1].=]}0&.*.(} .O =%&H$%} =4*H.,$%} ]}=+%1+,0&.,3 8H m 2$%)&.*3 "XXZ m$, "XqaZQSRdZ"8eZb83 "\3 P&HH.,0 29-N #$>-+.) TN -$&%) `m83 2*&,&>$* #$,$(+H+,1 .O 9$&, &, 8)@$,>+) -4,( 2$,>+%3 2*&, #+) :,0&(]10 /,>.*3 ?Y"? />1 \q_dSS"eb_3 "X3 9.%1+,.} 7•3 5%+$1H+,1 .O >$,>+% =$&,3 -$,>+13 ?Y"" m4, ?ZqSaaQXa\bRd??S_eba3 ?Y3 `%&H0 JmlN ;$@&+0 l6N -++ €2L3 7+0=&%$1.%} >]+01 =$&,d )&$(,.0&0 $,) 1%+$1H+,13 #+) 2*&, T.%1] 8H3 ?Y"Y #$%qXbQ?Rd?"aeS?3 ?"3 /=&1G :3 #$,$(+H+,1 .O H$*&(,$,1 =*+4%$* H+0.1]+*&.H$'5]+ 64%.=+$, +f=+%&+,>+3 m 5].%$> ;&03 ?Y"b #$}q_QP4==* ?RdP?S\eP?Z?3 ??3 T$k&D #3 7$]H$,N 2]$=H$, PmN ;$@&+0 7m/3 9*+4%$* +OO40&.,d $ 01%4>14%+) $==%.$>] 1. >$%+3 `% #+) `4**3 ?YYb m$, "qa?Q"RdS"eba3 ?S3 J4%%+% #N 7+>]01+&,+% 7N 6&(+,H$,, gN P&(,+% 2N 8*1]$40
aX
SY3 8,)+%0., 7N P$&+%0 mlN 8D%$H PN P>]*&>]1 23 8>>4%$>} &, +‰4&$,$*(+0&> ).0&,(3 >.,@+%0&., )&*+HH$03 m 9$&, P}H=1.H #$,$(+3 ?YY" #$}q?"QZRdSXaebY_3 S"3 l$,j0 LxN 2.,,. JN 2]+%,} TN l$,,$ #N •$*0. 6N #>†4$} lmN +1 $*3 #.%=]&,+ $,) $*1+%,$1&@+ .=&.&)0 &, >$,>+% =$&,d 1]+ 6892 %+>.HH+,)$1&.,03 `% m 2$,>+%3 ?YY" #$% ?q\bQZRdZ\aeXS3 S?3 ;~.%j&, 7lN /t2.,,.% 8`N `$>j.,k$ #N J$%%$% m5N J&,,+%4= T`N m+,0+, 5PN +1 $*3 9]$%H$>.*.(&> H$,$(+H+,1 .O ,+4%.=$1]&> =$&,d +@&)+,>+'D$0+) %+>.HH+,)$1&.,03 9$&,3 ?YYa ;+> Zq"S?QSRd?SaeZ"3 SS3 x$10., 293 5]+ 1%+$1H+,1 .O ,+4%.=$1]&> =$&,d $,1&)+=%+00$,10 $,) .=&.&)03 2*&, m 9$&,3 ?YYY m4,q"_Q? P4==*RdPbXeZZ3 Sb3 l400$&, 8#N 8O0]$, L3 <0+ .O $,1&>.,@4*0$,10 )%4(0 O.% ,+4%.=$1]&> =$&,O4* >.,)&1&.,03 m 9$j #+) 800.>3 ?YY\ ;+>qZ\Q"?Rd_XYe_3 SZ3 6&0+,$>] m2N ;49+, PN ;4D.&0 #N #&(4+* 7N 8**&, ;3 6=&)4%$* >*.,&)&,+ $,$*(+0&$ O.% &,1%$>1$D*+ >$,>+% =$&,3 5]+ 6=&)4%$* 2*.,&)&,+ P14)} L%.4=3 9$&,3 "XXZ m4,q_"QSRdSX"e X3 S_3 9$%0.,0 2L3 T#;8 %+>+=1.%0 $0 1$%(+10 O.% )%4( $>1&., &, ,+4%.=$1]&> =$&,3 64% m 9]$%H$>.*3 ?YY" />1 "Xqb?XQ"'SRda"e\3 Sa3 `+** 7JN 6>>*+01., 2N •$*0. 683 •+1$H&,+ $0 $, $)k4@$,1 1. .=&.&)0 O.% >$,>+% =$&,3 2.>]%$,+ ;$1$D$0+ P}01 7+@3 ?Y"?q""d2;YYSSZ"3 S\3 `.,)„% 8N PG4>0 PN :.].H L3 5].%$>&> =$%$@+%1+D%$* D*.>j$)+3 #+) <*1%$0.,3 ?Y"Y P+=q"?QSRd??Sea3 SX3 •$%H$j$% #•3 5].%$>&> =$%$@+%1+D%$* D*.>j3 8,+01]+0&.*.(}3 ?YY" P+=qXZQSRdaa"e\Y3 bY3 m.0]& L9N `.,,+1 JN P]$] 7N x&*j&,0., 72N 2$H4 JN J&0>]+% `N +1 $*3 8 0}01+H$1&> %+@&+~ .O %$,).H&G+) 1%&$*0 +@$*4$1&,( %+(&.,$* 1+>],&‰4+0 O.% =.011].%$>.1.H} $,$*(+0&$3 8,+01] 8,$*(3 ?YY\ P+=q"YaQSRd"Y?_ebY3 b"3 P14$%1 LN 2%$H.,) 53 7.*+ .O =+%>41$,+.40 >+%@&>$* >.%).1.H} O.% =$&, .O H$*&(,$,1 .%&(&,3 #+) m 84013 "XXS #$} "aq"Z\Q"YRd__aeaY3 b?3 P$,)+%0 #N c44%H.,) x3 P$O+1} .O 4,&*$1+%$* $,) D&*$1+%$* =+%>41$,+.40 >+%@&>$* >.%).1.H} &, \Y 1+%H&,$**} &** >$,>+% =$1&+,103 m 2*&, /,>.*3 "XXZ m4,q"SQ_Rd"ZYXe"?3 bS3 c44%H.,) xx8N 9+%+G 7PL#N -.+% P83 7.*+ .O >+%@&>$* >.%).1.H} $,) .1]+% ,+4%.*}1&> =%.>+)4%+0 &, 1].%$>&> >$,>+% =$&,3 24%% /=&, P4==.%1 9$**&$1 2$%+3 ?Y"Y #$%qbQ"Rd_e"Y3 bb3 9$11 7`N 7+))} P3 P=&,$* ,+4%.*}0&0 O.% >$,>+% =$&,d &,)&>$1&.,0 $,) %+>+,1 %+04*103 8,, 8>$) #+) P&,($=3 "XXb #$%q?SQ?Rd?"_e?Y3 bZ3 #}+%0 ;9N -+H$ #mN )+ -+.,'2$0$0.*$ /8N `$>., ;73 :,1+%=*+4%$* $,$*(+0&$ O.% 1]+ 1%+$1H+,1 .O 0+@+%+ >$,>+% =$&, &, 1+%H&,$**} &** =$1&+,103 m 9$&, P}H=1.H #$,$(+3 "XXS />1q\QaRdZYZe"Y3 b_3 P>],+&)+% 7JN g&**$H+,$ 92N l$%@+} mN P4%&>j `LN P4%&>j :xN `+$11&+ 6m3 -$>j .O +OO&>$>} .O &,1%$=*+4%$* D4=&@$>$&,+ O.% =.01.=+%$1&@+ $,$*(+0&$ O.**.~&,( 1].%$>.1.H}3 2]+013 "XXS J+Dq"YSQ?Rdb"be_3 ba3 `&11$% 7LN •$%'94%j$}$01]$ :N /~+, P-N `+$% 76N L%++, 8N x$,( PN +1 $*3 ;++= D%$&, 01&H4*$1&., O.% =$&, %+*&+Od $ H+1$'$,$*}0&03 m 2*&, T+4%.0>&3 ?YYZ m4,q"?QZRdZ"ZeX3 b\3 5.} 6N #$>D+1] JN 2.*+0 `N #+*@&**+ 8N 6$01~..) 83 9$**&$1&@+ 1].%$>&> %$)&.1]+%$=} O.% ,.,'0H$**'>+** *4,( >$,>+%d $ 0}01+H$1&> %+@&+~3 8H m 2*&, /,>.*3 ?YYS 8=%q?_Q?Rd""?e ?Y3
\Y
N120204 942N749: g N0 ;4 N74%,3!579 ;4 5245460,5 /@&)&4 #&14N J*.%&, #&14 ;&0>&=*&,$ )+ P+H&.*.(&+ #+)&>$*F <#J oL%&(.%+ 53 9.=$o :$^& / $,$H,+GF D&,+ >.,)40F ^& 4, +f$H+, >*&,&> $1+,1 %+$*&G$1 1%+D4&+ 0F %+=%+G&,1+ =%&H4* =$0 B, +@$*4$%+$ 4,+& )4%+%& 1.%$>&>+ $,1+%&.$%+N %&)&>A,) $,4H&1+ 040=&>&4,& )+ )&$(,.01&> ^& (]&)A,) $01O+* %+$*&G$%+$ +f=*.%F%&*.% =$%$>*&,&>+ 04=*&H+,1$%+3 8@A,) B, @+)+%+ >F =$>&+,14* %+*$1+$GF . +f=+%&+,[F 04D&+>1&@FN >4 . =%.O4,)F >.H=.,+,1F $O+>1&@F ,+($1&@FN =+%>+=[&$ $>+01+&$ O&&,) &,O*4+,[$1F )+ 01$1404* 0F4 0.>&.'>4*14%$*N >4 $1A1 H$& H4*1 H+)&>4* 1%+D4&+ 0F >.,)4>F . )&0>4[&+ =+%1&,+,1FN 0F 1%&+G+ $0=+>1+*+ %+*+@$,1+ )+ >+*+ &,41&*+N &$% *$ O&,$* 0F =.$1F )+O&,& ^& O.%H4*$ H.1&@+*+ =%+G+,1F%&&N &01.%&>4* $O+>[&4,&& ^& &=.1+G+*+ )+ )&$(,.01&> QL&,(]&,$ 2N ?Y"YR3 P&H=1.H+*+ =%&,>&=$*+ >$%)&$>+ 04,1 %+=%+G+,1$1+ )+d )4%+%+ 1.%$>&>FN )&0=,++N =$*=&1$[&&N 0&,>.=FN $*1+ 0&H=1.H+ ^& 0+H,+ =%+>4H +)+H+*+N O$1&($D&*&1$1+$N >&$,.G$N 140+$ 0$4 >*$4)&>$[&$ &,1+%H&,1+,1FN 1.$1+ $>+01+$ =41A,) 04(+%$ *$ %A,)4* *.% . $O+>1$%+ >$%)&.@$0>4*$%F3 N@&*&*/ ?)&/A'AF ;4%+%+$ 1.%$>&>F +01+ 4,4* )&,1%+ H.1&@+*+ =%&,>&=$*+ >$%+ )+1+%H&,F =%+G+,1$%+$ =$>&+,14*4& *$ H+)&>3 ;+^& =%&H$ &,1+,[&+N ^& >.%+>1F )+ $*1O+*N +01+ )+ $ %&)&>$ 040=&>&4,+$ 4,+& )4%+%& )+ >$4G+ >$%)&$>+N >4 1.$1+ $>+01+$ 1%+D4&+ $@41+ B, @+)+%+ ^& $,4H&1+ )&$(,.01&>+ )&O+%+,[&$*+N =%+>4H )4%+%&*+ )+ >$4GF @$0>4*$%FN =4*H.,$%FN ($01%.'&,1+01&,$*FN H40>4*.'0>]+*+1$*F 0$4 )+ $*1+ >$4G+ Q1$D+*4* "R3 24 1.$1+ $>+01+$N )$>F 0+ $>.%)F . $1+,[&+ 0=.%&1F ^& 0+ [&,+ >.,1 )+ 4%HF1.$%+*+ >$%$>1+%&01&>& =41+H B,(401$ H4*1 $%&$ )+ )&$(,.01&>d *.>$[&$N &%$)&+%+$N H.)4* )+ $=$%&[&+N )4%$1$N O$>1.%&& )+>*$,^$1.%& ^& $(%$@$,[&N +@+,14$*+*+ 0&H=1.H+ $0.>&$1+ Q`%$4,~$*)‹0 l+$%1 ;&0+$0+3 8 5+f1D..j .O 2$%)&.@$0>4*$% #+)&>&,+N ?Y"?R3 5$D+*4* "3 2$4G+ $*+ )4%+%&& 1.%$>&>+ ;4%+%+$ 2$%)&$>F g$0>4*$%F 94*H.,$%F L$01%.'&,1+01&,$*F #40>4*.'0>]+*+ 1$*F 8*1+ >$4G+
2$4G+ `.$*$ >.%.,$%&$,FN P1+,.G$ $.%1&>FN 2$%)&.H&.=$1&$ ]&=+%1%.O&>FN 9+%&>$%)&1$N #&.>$%)&1$ ;&0+>[&$ )+ $.%1FN 5%.HD+HD.*&0H4* =4*H.,$%N l&=+%1+,0&4,+$ =4*H.,$%F 9,+4H.,&+N 9*+4%+G&+N 9,+4H.1.%$fN 5%$]+.D%.,^&1FN 54H.%& 7+O*4f ($01%.+0.O$(&$ ,N P=$0H +0.O$(&$,N `.$*$ 4*>+%.$0FN 9$,>%+$1&1FN 8O+>[&4,& $*+ >F&*.% D&*&$%+ P&,)%.H 5&+1G+N 8%1%.GF >+%@&>$*FN 9+%&$%1&1F 0>$=4*.']4H+%$ *FN 5%$4H$1&0H l+%=+0 G.01+%N 8O+>[&4,& $*+ 0A,4*4&N 54*D4%F%& =0&].(+,+ Q$1$>4%& )+ =$,&>FR
8^$)$%N ,*'"/',2&(&( /2+4( 1( 1+*(*( /2*1'2/3 >$%+ 04,1 ^& >+*+ H$& (%$@+ ^& >4 =%.(,.01&>4* >+* H$& 0+@+% 04,1 %+=%+G+,1$1+ )+d `.$*$ >.%.,$%&$,FN >4 H4*1&=*+ +f=%&HF%& >*&,&>+N =.%,&,) )+ *$ $,(&,$ =+>1.%$*F 01$D&*FN >$%+ 4*1+%&.% 0+ =.$1+ >.H=*&>$ =%&,1%'4, 0&,)%.H >.%.,$%&$, $>41d $,(&,F =+>1.%$*F &,01$D&*FN &,O$%>1 H&.>$%)&> OF%F 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5N %+0=+>1&@ &,O$%>1 H&.>$%)&> >4 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5 QP56#:R e >+$ H$& 0+@+%F H$,&O+01$%+q 5%.HD+HD.*&0H4* =4*H.,$%q 9+%&>$%)&1$ 0$4 1$H=.,$)$ =+%&>$%)&>Fq ;&0+>[&$ )+ $.%1Fq
\"
N@&*&*/ +* A/@QF A)&)>/&'/>F ;&, $,(&,$ =+>1.%$*F 01$D&*F ;4%+%+$ >.%.,$%&$,F 0$4 )4%+%+$ )+ >$4GF &0>]+H&>F $=$%+ B, >.,)&[&&*+ B, >$%+ +f&01F 4, )+O&>&1 B,1%+ ,+>+0&1F[&*+ ^& >+%+%+$ )+ .f&(+, )+ *$ ,&@+*4* H&.>$%)4*4&3 C, >.,)&[&& ,.%H$*+ )+ +O.%1N )$1.%&1F ,+>+0$%4*4& )+ .f&(+, >%+0>41 QH+1$D.*&0H4* >+*4*+*.% H&.>$%)&>+ O&&,) =%+).H&,$,1 $+%.DRN $%1+%&.*+*+ >.%.,$%&+,+ 0+ )&*$1F &$% )+D&14* >.%.,$%&$, =.$1+ >%+^1+ )+ =$1%4'>&,>& .%&3 814,>& >A,) $%1+*+ >.%.,$%+ 04,1 B,(401$1+ Q ZY{ =+ 1%4,>]&4* $%1+%+& >.%.,$%+ 01A,(& 0$4 aY{ =+ H&,&H . $%1+%F >.%.,$%F &H=.%1$,1FRN $%1+%&.*+*+ >.%.,$%+ &,1%$H&.>$%)&>+ 0+ )&*$1F B,>F )&, 01$)&4* )+ %+=$40 =+,1%4 $ H+,[&,+ 4, O*4f 0$,(@&, $)+>@$13 801O+*N *$ +O.%1N )&*$1$%+$ $>+01.%$ 04=*&H+,1$%F ,4 H$& +01+ =.0&D&*FN >4 )&H&,4$%+$ 0$4 $D0+,[$ %+G+%@+& )+ O*4f >.%.,$%&$,N >++$ >+ >.,)4>+ B, O&,$* *$ )+G+>]&*&D%4* )&,1%+ ,+>+0$%4* ^& $=.%14* )+ .f&(+, H&.>$%)&>3 C, $>+01+ >.,)&[&&N 04,1 +*&D+%$1+ >$1+>.*$H&,+ Q=%+=.,)+%+,1 ,.%$)%+,$*&,FRN 0+ =%.)4>+ @$0.>.,01%&>[&+ >.%.,$%&$,F >4 +*&D+%$%+ )+ 04D01$,[+ @$0.>.,01%&>1.$%+ Q0+%.1.,&,FN 1%.HD.f$, 8?RN &$% H+1$D.*&0H4* H&.>$%)&> )+@&,+ $,$+%.DN >4 O.%H$%+ )+ $>&) *$>1&> ^& $>&).GF H+1$D.*&>F3 7+>+=1.%&& @$0>4*$%& 04,1 01&H4*$[& )+ 04D01$,[+*+ +*&D+%$1+ )+ >F1%+ H+1$D.*&0H4* $,$+%.D ^& $01O+* +01+ )+>*$,^$1F )4%+%+$ Q#&14 JN ?Y""R3 C, >.,)&[&&*+ 4,+& &0>]+H&& &H=.%1$,1+ ^& =%+*4,(&1+N =+ *A,(F )4%+%+ $=$% ^& H.)&O&>F%& &0>]+H&>+ =+ +*+>1%.>$%)&.(%$HF =%+>4H ^& 0>F)+%+$ >.,1%$>1&*&1F[&& H&.>$%)&>+3 ;4%+%+$ +01+ 01$)&4* O&,$* ^& >+$ H$& 1$%)&@F H$,&O+01$%+ $ D.*&& >.%.,$%&+,+ )+.$%+>+ &0>]+H&$ )+1+%H&,FN =+ *A,(F H.)&O&>F%&*+ &,1%$>+*4*$%+N 14*D4%F%& $*+ O4,>[&+& )&$01.*&>+N 4*1+%&.% $*+ O4,>[&+& 0&01.*&>+ $ H&.>$%)4*4&N H.)&O&>F%& >$%+ =.1 O& +@&)+,[&$1+ +>.>$%)&.(%$O&>3 2+$ H$& O%+>@+,1F >$4GF $ D.*&& >.%.,$%&+,+ +01+ %+=%+G+,1$1F )+ $1+%.0>*+%.GFN =%.>+0 $ >F%4& )+G@.*1$%+ B,>+=+ B,>F )&, =%&H&& $,& )+ @&$[F ^& =%.(%+0+$GF *+,13 ;+G@.*1$%+$ $1+%.0>*+%.G+& >.%.,$%&+,+ B, 1&H= +01+ &H=%+)&>1&D&*F ^& @$%&$GF *$ O&+>$%+ &,)&@&)N B, O4,>[&+ )+ O$>1.%&& (+,+1&>& =%+)&0=.G$,[& )$% ^& )+ $0.>&+%+$ >4 )&@+%^& O$>1.%& )+ %&0> >$%)&.@$0>4*$%& =%+>4H O4H$14*N .D+G&1$1+$N >.,04H4* >%.,&> )+ +1$,.*N 0+)+,1$%&0H4*N )&0*&=&)+H&$N ]&=+%1+,0&4,+$ $%1+%&$*F 0$4 )&$D+14* G$]$%$13 8*1+ >$4G+ )+ &0>]+H&+ H&.>$%)&>F 04,1d 0=$0H4* >.%.,$%&$, Q0&,)%.H4* 9%&,1GH+1$*RN 01+,.G$ $.%1&>F ^& >$%)&.H&.=$1&$ ]&=+%1%.O&>F Q >$%+ )+1+%H&,F . &,+($*&1$1+ B,1%+ ,+>+0$%4* H&.>$%)&> )+ .f&(+, ^& =%+0&4,+$ )+ =+%O4G&+ >.%.,$%&$,FR 0$4 4, $,(.% O4,>[&.,$* Q)+ >+*+ H$& H4*1+ .%& .%($,.'O4,>[&.,$*R B,1$*,&1 B, D%$)&r1$]&$%&1H&& 0+@+%+N $,+H&+N ]&=.f+H&+3 9%&H$ )+0>%&+%+ +f$>1F $ )4%+%&& )&, $,(&,$ =+>1.%$*F $ O.01 %+$*&G$1F )+ >F1%+ x&**&$H l+D+%)+, B,>F )&, $,4* "a_\3 ;&$(,.01&>4* )+ $,(&,F =+>1.%$*F 0+ O$>+ +H&,$H+,1+ >*&,&> ^& 04,1 =$1%4 +*+H+,1+ >]+&+ >$%+ )+O&,+0> )4%+%+$ $,(&,.$0Fd *.>$*&G$%+$N >$%$>1+%4*N )4%$1$ ^& >.,)&[&&*+ )+ =%.@.>$%+ ^& $H+*&.%$%+ Q5]+ 5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O 01$D*+ >.%.,$%} $%1+%} )&0+$0+ .O 1]+ 64%.=+$, P.>&+1} .O 2$%)&.*.(}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
\?
>$ . 0+,G$[&+ )+ =%+0&4,+N $=F0$%+N $%04%FN K>$ . (]+$%FMN )+ .D&>+& . )4%+%+ =%.O4,)F3 ;4%+%+$ $,(&,.$0F 0+ =.$1+ $0.>&$ ^& >4 $*1+ 0+H,+ =%+>4H )&0=,++$N =$*=&1$[&&*+N 01$%+$ )+ .D.0+$*F 0$4 $,f&+1$1+$N O&&,) &H=.%1$,1 $ &,1+(%$ 1.$1+ $>+01+ 0&H=1.H+ B, k4)+>$1$ >*&,&>F3 ;4%$1$ H$f&HF $ 4,+& >%&G+ $,(&,.$0+ +01+ )+ "Z'?Y H&,41+N B, H+)&+ )+ ?'S H&,41+N )+0+.%& @$%&$D&*F3 / )4%+%+ >$%+ )4%+$GF >A1+@$ 0+>4,)+ +01+ &H=%.D$D&* $ 0+ )$1.%$ D.*&& >.%.,$%&+,+N &$% . )4%$1F H$& H$%+ )+ ?Y'SY H&,41+ =.$1+ O& +f=%+0&$ 4,+& $,(&,+ &,01$D&*+N &,O$%>1 H&.>$%)&> 0$4N B, 4,+*+ >$G4%&N OF%F *+(F14%F >4 &0>]+H&$ H&.>$%)&>F e ,+@%.GF3 J%+>@+,[$ >%&G+*.% )+=&,)+ )+ $>1&@&1F[&*+ G&*,&>+ $*+ =$>&+,14*4& ^& )+ 0+@+%&1$1+$ *+G&4,&*.% >.%.,$%&+,+3 J$>1.%&& =%+>&=&1$,[& 04,1 %+=%+G+,1$[& )+ >&%>4H01$,[+*+ >$%+ )+1+%H&,F 4, >.,04H >%+0>41 )+ .f&(+, *$ ,&@+*4* H&.>$%)4*4&d +O.%14* O&G&>N 01%+004* +H.[&.,$*N O%&(4*N 4%>$%+$ 4,+& =$,1+N H+%04* BH=.1%&@$ @A,14*4&N H+0+*+ >.=&.$0+N %$=.%14%&*+ 0+f4$*+3 2.,)&[&&*+ )+ $H+*&.%$%+ 04,1 %+=%+G+,1$%+ )+ B,>+1$%+$ +O.%14*4& O&G&>N )$% H$& $*+0 )+ >F1%+ $)H&,&01%$%+$ 04D*&,(4$*F )+ ,&1%$[& >$%+ $% 1%+D4& 0F $H+*&.%+G+ 04D01$,[&$* )4%+%+$ B, H$f&H ?'S H&,41+3 C, >$G4* B, >$%+ )4%+%+$ ,4 )&0=$%+ )4=F $)H&,&01%$%+$ $ S =4O4%& )+ ,&1%.(*&>+%&,F $)H&,&01%$1+ &,)&@&)4$* *$ &,1+%@$* )+ S'b H&,41+N +01+ &H=.%1$,1 )+ +O+>14$1 4, >.,04*1 >$%)&.*.(&> B, 4%(+,[F )+.$%+>+ %&0>4* )+G@.*1F%&& 4,4& 0&,)%.H >.%.,$%&$, $>41 +01+ H$k.%3 6f&01F $,4H&1+ >$%$>1+%&01&>& $*+ )4%+%&& 1.%$>&>+ >$%+ O$> &H=%.D$D&* )&$(,.01&>4* )+ $,(&,F =+>1.%$*F Q#&14 JN ?Y""Rd - ;4%+%+ )+ O.$%1+ 0>4%1F )4%$1F Q0+>4,)+Rq - ;4%+%+ =+01+ SY H&,41+N )4=F +f>*4)+%+$ 4,4& 0&,)%.H >.%.,$%&$, $>41q - ;4%+%+ >$%+ )&0=$%+ 1$%)&@ *$ ,&1%.(*&>+%&,Fq - ;4%+%+ $>41F >$ . B,[+=F14%F )+ $> 0$4 >4[&1q k4,(]&4%& 0$4 BH=4,0F14%&q - -.>$*&G$%+ =%+>.%)&$*F +f$>1FN $%F1$1F )+ =$>&+,1 >4 )+(+14*N B, =4,>1 O&f ^& ,4 >4 1.$1F HA,$q 9%.@.>$%+$ )4%+%&& =%&, $=F0$%+$ 1.%$>+*4&q - ;+>*$,^$%+$ )4%+%&& B, %+=$40N B, =.G&[&+ ^+GA,)F 0$4 >4*>$1F Q+f>*4GA,) +O.%14* O&G&>Rq - 8=$%&[&$ )4%+%&& =%&, H&^>F%& $*+ D%$[4*4& 0$4 *$ %+0=&%$[&$ =%.O4,)Fq - 8H+*&.%$%+$ )4%+%&& B, 1&H=4* +O.%14*4& O&G&>q ;+>*$,^$%+$ )4%+%&& )4=F 1+%H&,$%+$ 4,4& +O.%1 O&G&>q 8>14$*H+,1+N 0+@+%&1$1+$ $,(&,+& =+>1.%$*+ +01+ +@$*4$1F =+ D$G$ >*$0&O&>F%&& P.>&+1F[&& 2$,$)&+,+ )+ `.*& 2$%)&.@$0>4*$%+ Q5]+ 2$,$)&$, 2$%)&.@$0>4*$% P.>&+1}N 22PRN >4$,1&O&>A,) =%$(4* $=$%&[&+& 0&H=1.H+*.% B, %+*$[&+ >4 $>1&@&1$1+$ O&G&>F Q1$D+*4* ?R Q2$H=+$4 -3N "Xa_R3 5$D+*4* ?3 2*$0&O&>$%+$ $,(&,+& =+>1.%$*+ >.,O.%H 22P 2*$0$ 22P : ::
::: :g
5&=4* )+ $>1&@&1$1+ O&G&>F 8>1&@&1$1+ .D&^,4&1F =%+>4H H+%04* 0$4 4%>$%+$ 0>F%&*.% ,4 =%.@.$>F $,(&,F3 8,(&,$ $=$%+ *$ +O.%14%& O&G&>+ &,1+,0+N 040[&,41+N %$=&)+3 -&H&1$%+ 4^.$%F $ $>1&@&1F[&& O&G&>+3 8,(&,$ $=$%+ *$ H+%0 0$4 4%>$%+$ %$=&)F $ 0>F%&*.%N )4=F H+0+N +f=4,+%+$ *$ O%&(N 01%+00 +H.[&.,$* 0$4 B, =%&H+*+ .%+ )4=F 1%+G&%+q $=$%+ *$ H+%0 H$& H4*1 )+ ZYY H 0$4 *$ 4%>$%+$ $ H$& H4*1 )+ 4, +1$k B, >.,)&[&& ,.%H$*+3 -&H&1$%+ H$%>$1F $ $>1&@&1F[&& O&G&>+ .D&^,4&1+3 8,(&,$ $=$%+ *$ H+%0 *$ H$& =4[&, )+ ZYY H =+ =*$, )%+=1 0$4 *$ 4%>$%+$ 4,4& 0&,(4% +1$k B, >.,)&[&& ,.%H$*+3 :,>$=$>&1$1+$ )+ $ +O+>14$ .%&>+ $>1&@&1$1+ O&G&>F OF%F $=$%&[&$ )&0>.HO.%14*4&3 9.$1+ 0F $=$%F ^& B, %+=$403
\S
;&, &,O$%>14* H&.>$%)&> $>41 ;4%+%+$ )&, &,O$%>14* H&.>$%)&> $>41 Q:#8R +01+ . )4%+%+ %+1%.01+%,$*F &H=.%1$,1FN >4 &%$)&+%+ 0&H&*$%F >$ B, $,(&,$ =+>1.%$*F3 8%+ >$%$>1+% >.,01%&>1&@N O&&,) )+ &,1+,0&1$1+ H$%+ ^& )4%+$GF =+01+ SY H&,41+3 C, =+01+ k4HF1$1+ )&, >$G4%& 0+ &)+,1&O&>F 4, O$>1.% )+>*$,^$1.% Q+O.%1 O&G&> >%+0>41N 01%+00 +H.[&.,$* +1>3RN )$% $=$%+ ^& B, %+=$40N )+ >+*+ H$& H4*1+ .%& B, =%&H+*+ .%+ $*+ )&H&,+[&&3 T4 >+)+$GF 0=.,1$, 0$4 *$ $)H&,&01%$%+$ )+ ,&1%.(*&>+%&,F ^& 0+ =.$1+ B,0.[& )+ $,f&+1$1+ H$%>$1FN @F%0F14%&N =$*=&1$[&&N 1%$,0=&%$[&& =%.O4G+ 0$4 )&0=,++ &H=.%1$,1F Q4,+.%& >$ 0+H, 4,&> )+ H$,&O+01$%+–R3 ;+ .D&>+&N =$>&+,14* =%+G&,1F 4, &01.%&> =+%0.,$* )+ D.$*F >.%.,$%&$,F 0$4 O$>1.%& )+ %&0> >$%)&.@$0>4*$%&3 6f&01F ^& 0&14$[&& =$%1&>4*$%+ >A,) )4%+%+$ $,(&,.$0F +01+ $D0+,1F 0$4 H&,&HF 0$4 0&H=1.H+*+ 04,1 $1&=&>+N >4H $% O& .D.0+$*$N 0+,G$[&$ )+ *&=0F )+ $+% 0$4 0&,>.=$N =A,F *$ SY{ )&, 1.1$*4* =$>&+,[&*.% >4 :#83 8>+^1& =$>&+,[& 04,1 >+* H$& O%+>@+,1 O+H+&N @A%01,&>&N )&$D+1&>& 0$4 04,1 =$>&+,[& 0+)$[&N >.,O4G& 0$4 >4 )+H+,[FN >++$ >+ )+1+%H&,F B,1A%G&+%+$ )&$(,.01&>4*4& ^&N &H=*&>&1N +O+>14$%+$ 1+%$=&+& )+ %+=+%O4G&+ B, 4%(+,[F Q5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O P5'0+(H+,1 +*+@$1&., $>41+ H}.>$%)&$* &,O$%>1&., .O 1]+ 64%.=+$, P.>&+1} .O 2$%)&.*.(} Q6P2RN ?Y"?R3 601+ O.$%1+ &H=.%1$,1 )+ &,1+(%$1 )4%+%+$ >$%)&$>F B, +@$*4$%+$ =$>&+,14*4& >4 040=&>&4,+$ )+ :#8N $*F14%& )+ +*+>1%.>$%)&.(%$HF Q62LR ^& H$%j+%&& )+ >&1.*&GF H&.>$%)&>FN B,0F O&+>$%+ )&,1%+ +*+H+,1+*+ )&$(,.01&>+ $,$*&G$1+ &,)&@&)4$* =.$1+ >%+$ =%.D*+H+ )+ )&$(,.01&>3 N@&*&*/ +'> ?&)HK*HK)C'.H@C G@CH)>/& ;4%+%+$ )&, 1%.HD+HD.*&0H4* =4*H.,$% Q569R $>41 0+ )$1.%+$GF ]&=+%1+,0&4,&& =4*H.,$%+ ^& )&01+,0&+& $%1+%+& =4*H.,$%+3 C,1%'4, &,O$%>1 =4*H.,$%N )4%+%+$ 1.%$>&>F +01+ )+ 1&= =*+4%$*N >4 *.>$*&G$%+ *$1+%.1.%$>&>F 0$4 04D01+%,$*F Q#&14 JN ?Y""R3 ;4%+%+$ B, 569 $=$%+ $14,>& >A,) =+01+ ZY{ )&, =$14* @$0>4*$% =4*H.,$% +01+ .D01%4$1 Q0$4 =+01+ ?Y'SY{ *$ =$>&+,[&& >4 =$1.*.(&+ >$%)&.=4*H.,$%F =%++f&01+,1FR3 8*F14%& )+ )4%+%+N )&0=,++$ +01+ 0&H=1.H4* =%&,>&=$*N O&&,) B,1A*,&1F B, =+01+ aY{ )&,1%+ >$G4%&*+ )+ 569 >.,O&%H$1 &H$(&01&>N &$% )4%+%+$ B, $=%.f&H$1&@ _Z{ QP1+&, 9;N 5+%%&, #-N l$*+0 28 +1 $*3N "XX"R3 8*F14%& )+ $>+01+$N 0&H=1.H+ &H=.%1$,1+ 04,1 140+$N ]+H.=1&G&$ 0$4 +)+H+ $*+ H+HD%+*.% &,O+%&.$%+3 P+H,+*+ 04(+01&@+ 04,1 1$]&=,++$ QO%+>@+,[F )+ =+01+ aY{RN 1$]&>$%)&$N $>>+,14$%+$ >.H=.,+,1+& =4*H.,$%+ $ G(.H.14*4& ? 0$4 ]&=.1+,0&4,+$ $%1+%&$*F ^& ^.>4* >$%)&.(+,3 24 1.$1+ $>+01+$N )&0=,++$N )4%+%+$ >4 >$%$>1+% =*+4%&1&> ^& ]+H.=1&G&$N 0+H,+ >*&,&>+ B,$*1 04(+01&@+ =+,1%4 569N 0+ $0.>&$GF ).$% *$ $=%.f&H$1&@ ?Y{ )&,1%+ =$>&+,[& Q5$j$>] -$=,+% PN •+$%., 2N ?Y"SR3 5.>H$& $>+$01F @$%&$D&*&1$1+ O$>+ >$ 569 0F O&+ . =$1.*.(&+ H4*1 04D)&$(,.01&>$1F ^& 04D1%$1$1FN O&&,) )&$(,.01&>4* >+* H$& O%+>@+,1 .H&0 QbNZ{RN $*F14%& )+ &,1+%$>[&4,&*+ 0$4 %+$>[&&*+ $)@+%0+ H+)&>$H+,1.$0+ ^& >$,>+%4* D%.,].=4*H.,$% QP>]&OO L;N l$0$, /N •&H PN ?YYXR3 ;+ $0+H+,+$N =.$1+ O& >.,O4,)$1F >4 $*1+ )&$(,.01&>+ $*+ >F%.% 1%$1$H+,1+ 04,1 1.1$* )&O+%&1+N =%+>4Hd $,(&,F =+>1.%$*FN :#8N =+%&>$%)&1FN =,+4H.,&+N >$,>+% D%.,].=4*H.,$%N 0&,)%.H $,+H&>N =0&].GF 0$4 >]&$% +=&0.$)+ $,f&.$0+3 J$>1.%&& =%+)&0=.G$,[& =+,1%4 569 Q1$D+*4* SR 04,1 &)+,1&>& >4 >+& =+,1%4 1%.HD.G$ @+,.$0F =%.O4,)F ^& 04,1 (%4=$D&*& B, >$)%4* 1%&$)+& )+0>%&0+ )+ g&%>].~d *+G&4,& $*+ +,).1+*&4*4& @+,.0N 01$GF @+,.$0F ^& ]&=+%>.$(4*$D&*&1$1+ 0$,(@&,F3
\b
5$D+*4* S3 J$>1.%& =%+)&0=.G$,[& =+,1%4 569 Q>.,O.%H Q5.%D&>j& 8N 9+%%&+% 8N •.,01$,1&,&)+0 P +1 $*3N ?YY\R R g$*.$%+ =%+)&>1&@F =+,1%4 569 C,$*1F
#.)+%$1F
7+)40F
J$>1.%& =%+)&0=.G$,[& J%$>14%F Q^.*)N H+HD%4 &,O+%&.%R 9%.1+G$%+ Q^.*)N (+,4,>]&R :,1+%@+,[&+ >]&%4%(&>$*F H$k.%F -+G&4,& $*+ HF)4@+& 0=&,F%&& 5%$4H$1&0H H$k.% 2]&%4%(&$ $%1%.0>.=&>F $ (+,4,>]&4*4& 2$1+1+% @+,.0 >+,1%$* :,04O&>&+,[F >$%)&$>F 0$4 %+0=&%$1.%&+ >%.,&>F 2]&H&.1+%$=&+ T+.=*$G&& 5+%$=&$ )+ 04D01&14[&+ ].%H.,$*F 9+%&.$)$ )+ 0$%>&,F r =.01=$%14H 5%.HD.O&*&$ 8>>&)+,1 @$0>4*$% >+%+D%$* >4 =$%$*&G&+ 5%.HD+HD.*&0H @+,.0 B, $,1+>+)+,1+ 7+=$40 *$ =$1 S G&*+ gA%01$ $@$,0$1F /D+G&1$1+$ `.$*$ @$%&>.$0F :H.D&*&G$%+ B, =.G&[&+ ^+GA,)F Q>F*F1.%&& =%+*4,(&1+ >4 H$^&,$ 0$4 $@&.,4*R 2]&%4%(&$ *$=$%.0>.=&>F Q+f=d >.*+>&01+>1.H&$R
2+%1 +01+ >F )&$(,.01&>4* 569 +01+ 4,4* )+ =%.D$D&*&1$1+N 4, +f$H+, =$%$>*&,&> ,+($1&@ ,4 =.$1+ +f>*4)+ ^& ,4 +f&01F 1+01+ D&.>]&H&>+ &H$(&01&>+ 04O&>&+,1 )+ 0+,0&D&*+ ^& 0=+>&O&>+ =+,1%4)&$(,.01&>4* $ =41+$ >.,O&%H$ 0$4 &,O&%H$ )&$(,.01&>4*^&)+ >+%1&14)&,+3 N@&*&*/ G*&'A/&+'AF ;.4F H+HD%$,+ O.%H+$GF =+%&>$%)4*d >+$ &,1+%,F Q=+%&>$%)4* @&0>+%$*R ^& >+$ +f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e +*+>1%.>$%)&.(%$H$N )&,$H&>$ +,G&H$1&>F ^& +>.>$%)&.(%$O&$ 1%$,^A,))+ )&$(,.01&>4*3 6f$H+,4* >*&,&> =.$1+ 04%=%&,)+ O%+>F14%$ =+%&>$%)&>F >$%+ +01+ 4, G(.H.1 0&01.*.' )&$01.*&>N >4 1&HD%4 $0=%4N O.$%1+ @$%&$D&* B, 1&H=N 0+ $0>4*1F H$& D&,+ B, &,0=&%N =.G&[&+ ^+GA,)F 0$4 )+>4D&1 *$1+%$* 01A,( ^& =+%0&01F B, $=,++ Q)&$(,.01&> )&O+%+,[&$* >4 O%+>F14%$ =*+4%$*FR3 <, *&>]&) =+%&>$%)&> B, >$,1&1$1+ H$%+ =.$1+ 0F )4>F *$ )&0=$%&[&$ O%+>F14%&&3
\Z
C, >$G4* B, >$%+ @&1+G$ )+ $>4H4*$%+ $ %+@F%0$14*4& =+%&>$%)&> +01+ %$=&)FN $>+01$ =.$1+ >.,)4>+ *$ )29,%"212 ,(*'/2*1'/3N >$%+ %+=%+G&,1F 4%(+,[F )&$(,.01&>F ^& 1+%$=+41&>F3 801O+*N B, 040=&>&4,+$ )+ =+%&>$%)&1FN B,1.1)+$4,$ 1%+D4&+ >F41$1+ 0+H,+*+ )+ 1$H=.,$)F e 0+H,+ )+ ^.> ^& )+ &,04O&>&+,[F >$%)&$>F )%+$=1Fd >%+^1+%+$ =%+0&4,&& @+,.$0+ 0&01+H&>+N 1$]&>$%)&+ QO%+>@+,[F >$%)&$>F "YY DF1F&rH&,41RN )&0=,++N 1$]&=,++ OF%F %$*4%& =4*H.,$%+ 04=%$$)F4($1+N ]&=.1+,0&4,+ $%1+%&$*F 0$4 =4*0 =$%$).f$* Q=4*04* 0>$)+ 0+H,&O&>$1&@ B, 1&H=4* &,0=&%4*4&R Q#$&0>] `N P+O+%.@&— 9#N 7&01&— 8; +1 $*3N ?YYbR3 8 ).4$ >.H=*&>$[&+ H$k.%F $ =+%&>$%)&1+& +01+ ,(*'/2*1')2 /*%"'/3 /%"8)*'/)'73N >+* H$& O%+>@+,1 )+ >$4GF 14D+%>4*.$0F 0$4 =.01.=+%$1.%&+N >.,0+>&,[$ 4,+& =+%&>$%)&1+ >%.,&>+ +@.*41&@+3 J&D%.G$ =+%&>$%)&>F )+1+%H&,F &,&[&$* >.H=%&H$%+$ >$@&1F[&*.% >$%)&$>+ )%+=1+N &$% 4*1+%&.% $ >+*.% 01A,(&3 2*&,&>N 0+ %+$*&G+$GF . >.,(+01&+ @+,.$0F 0&01+H&>F >%.,&>F >$%+ >.,)4>+ *$ )+D&1 >$%)&$> 0>FG41N 14%(+0>+,[$ k4(4*$%+*.%N )&01+,0&+ $D).H&,$*FN +)+H+N ]&=.1+,0&4,+ $%1+%&$*F >4 =4*0 )&H&,4$13 N@&*&*/ /)&?'AF ;4%+%+$ $.%1&>F $=$%+ B, )&0+>[&$ )+ $.%1F ^& >$%+ %+=%+G&,1F >*&@$%+$ *.,(&14)&,$*F $ =+%+1+*4& $.%1&>N >4 O.%H$%+$ 4,4& *4H+, O$*0 B, H+)&$ $.%1+&3 2+* H$& $)+0+$N *4H+,4* O$*0 $=$%+ )$1.%&1F %4=+%&& 01%$14*4& &,1&H$* QO$*)4* &,1&H$*RN =F1%4,)+%+$ *.>$*F $ 0A,(+*4& 04D =%+0&4,+ ^& )&0+>[&$ =+%+1+*4&3 C, $=%.f&H$1&@ ).4F 1%+&H& )&, >$G4%&N =.$%1$ )+ &,1%$%+ +01+ B, $.%1$ $0>+,)+,1FN &$% =%&,>&=$*&& O$>1.%& )+ %&0> 04,1 ]&=+%1+,0&4,+$ $%1+%&$*FN $1+%.0>*+%.G$ $>>+,14$1FN $,+@%&0H4* )+ $.%1F 0$4 D.*&*+ [+0414*4& >.,k4>1&@3 2.,O.%H >*$0&O&>F%&& P1$,)O.%)N )&0+>[&&*+ )+ $.%1F 04,1 )+ ).4F 1&=4%&d >+*+ >$%+ >4=%&,) $.%1$ $0>+,)+,1F ^& >$%+ ,+>+0&1F 1%$1$H+,1 >]&%4%(&>$* Q1&=4* 8R ^& >+*+ >$%+ $O+>1+$GF $.%1$ )+0>+,)+,1F >4 %+>.H$,)$%+ )+ 1%$1$H+,1 H+)&>$* Q1&=4* `R QO&(4%$ "R Ql&%$1Gj$ -JN `$j%&0 L-N `+>jH$, m8 +1 $*3N ?Y"YR3 ;4%+%+$ +01+ >$4G$1F )+ >F1%+ 01&H4*$%+$ 1+%H&,$[&&*.% ,+%@.$0+ )&, $)@+,1&>+ )$1.%&1F )&01+,0&+& D%4^1+ $ $>+01+&$3 8=$%+ B, =+01+ XY{ )&,1%+ >$G4%& ^& $%+ >$%$>1+% 0OA^&+1.%N >4 *.>$*&G$%+ %+1%.01+%,$*F ^& &%$)&+%+ 0=%+ 4H+%& $14,>& >A,) +01+ &,1+%+0$1F $.%1$ $0>+,)+,1F Q$0+HF,F1.$%+ >4 )4%+%+$ )&, :#8R 0$4 &,1+%0>$=4*.@+%1+D%$*F B, >$G4* )&0+>[&+& $.%1+& )+0>+,)+,1+3 P+ &,01$*+$GF D%40> B,>F )+ *$ B,>+=41 ^& =.$1+ H&(%$ *$ ,&@+*4* 1.%$>+*4& ^& 0=%+ $D).H+, .)$1F >4 =%.(%+0&$ )&0+>[&+&3 6f$H+,4* >*&,&> =.$1+ O& )+014* )+ @$%&$D&*N )+ *$ $D0+,[$ .%&>F%4& +*+H+,1 =$1.*.(&> ^& =A,F *$ 01$%+$ )+ ^.> 0$4 )+>+0 O4*H&,$,13 P+H,+*+ >+* H$& O%+>@+,1 $0.>&$1+ 04,1 04O*4* )&$01.*&> )+ &,04O&>&+,[F $.%1&>FN )+O&>&1+*+ )+ =4*0 Q$HD+*+ B,1A*,&1+ H$& $*+0 B, >$G4* )&0+>[&+& =%.f&H$*+R 0$4 $>>&)+,1+*+ ,+4%.*.(&>+3 C, >$G4* B, >$%+ )&0+>[&$ $%+ .%&(&,+$ *$ +H+%(+,[$ $.%1+&N +f&01F %&0>4* )&0+>[&+& >.%.,$%&+,+ >$%+ >.,)4>+ *$ &,O$%>1 H&.>$%)&> $>41 >.,>.H&1+,1 QL&,(]&,$ 2N ?Y"YR3 C, H$k.%&1$1+$ >$G4%&*.%N +*+>1%.>$%)&.(%$H$ +01+ ,.%H$*FN +f>*4GA,) 4, +@+,&H+,1 >.%.,$%&$, $>41N &$% )&$(,.01&>4* 0+ O$>+ =+ D$G$ 1+],&>&*.% &H$(&01&>+ Q+>.>$%)&.(%$O&+N $,(&.' 25N $%1+%&.(%$O&+R3
\_
J&(4%$ "3 2*$0&O&>$%+$ $,$1.H&>F P1$,)O.%) $ )&0+>[&+& )+ $.%1F 0UGC)&F&' G/&/AC'>'A* C, >$G4* 4,+& )4%+%& 1.%$>&>+ 1.%$>&>+ $,1+%&.$%+N 1%+D4&+ %+$*&G$1+ . 0+%&+ )+ &,@+01&($[&& =+,1%4 $ 01$D&*& >$4G$N =%&,>&=$*+*+ O&&,)d - 6*+>1%.>$%)&.(%$H$ - 7$)&.(%$O&$ 1.%$>&>F - 6>.(%$O&$ >$%)&$>F - ;.G$%+$ +,G&H+*.% )+ ,+>%.GF H&.>$%)&>F - 8*1+ +f=*.%F%&N B, O4,>[&+ )+ >$G 0C*A?&)A/&+')(&/H/ 601+ >+$ H$& $>>+0&D&*F ^& >+$ H$& &H=.%1$,1F &,@+01&($[&+ =$%$>*&,&>F )+ +O+>14$1 B,1%' . )4%+%+ )+ .%&(&,+ >$%)&$>FN .%&+,1A,) )&$(,.01&>4* ^& 01$D&*&,) =%&.%&1$1+$ +O+>14F%&& 4%HF1.$%+*.% $,$*&G+ &H$(&01&>+ ^& )+ *$D.%$1.%3 601+ D&,+ >$ =+ *A,(F )+%&@$[&&*+ 01$,)$%)N 0F O&+ +O+>14$1+ ^& )+%&@$[&&*+ )%+=1+ ^& =.01+%&.$%+N O&&,) O.$%1+ 41&*+ B, 040=&>&4,+$ )+ :#8 &,O+%&.% Q=.$1+ O& >4=%&,0 ^& @+,1%&>4*4* )%+=1 e )+%&@$[&&*+ )%+=1+R 0$4 :#8 &,O+%.'D$G$* Q)+%&@$[&&*+ =.01+%&.$%+R3 601+ B,1.1)+$4,$ D&,+ )+ $ >.H=$%$ 62L'4* .D[&,41 B, )4%+%+ >4 4, 1%$0+4 $,1+%&.%3 / 62L ,.%H$*F B, 1&H=4* )4%+%&& %&)&>FN B, >+*+ H$& H4*1+ )&,1%+ >$G4%&N 4, 0+H, )+ B,1%+D$%+ $04=%$ .%&(&,&& >.%.,$%&+,+ $ )4%+%&&N )$% >4 1.$1+ $>+01+$ ,4 +f>*4)+ )+O&,&1&@ D.$*$ >$%)&$>F &0>]+H&>F3 62L'4* +01+ )&O&>&* )+ &,1+%=%+1$1 B, $,4H&1+ 0&14$[&& >$%+ =%+04=4, )+k$ H.)&O&>F%& +*+>1%.>$%)&.(%$O&>+d - `*.> )+ %$H4%F 01A,(F - l&=+%1%.O&+ @+,1%&>4*$%F 01A,(F - P1&H4*$1.% >$%)&$> - 54*D4%F%& H+1$D.*&>+ Q]&=.r]&=+%j$*&+H&+R - 8)H&,&01%$%+ )+ )&(&1$*&>+ - P&,)%.H )+ %+=.*$%&G$%+ =%+>.>+ - P&,)%.H `%4($)$ 62L'4* B, )4%+%+ +01+ 4, D4, H$%j+% .%&+,1$1&@ =+,1%4d :#8N $,(&,F =+>1.%$*FN $,(&,F @$0.0=$01&>F Q0&,)%.H4* 9%&,1GH+1$*RN 569N =+%&>$%)&1F $>41F 0$4 1$H=.,$)F >$%)&$>F3 C, $,(&,$ =+>1.%$*FN H.)&O&>F%&*+ >+* H$& O%+>@+,1 B,1A*,&1+ =+ 62L 04,1 $,.H$*&&*+ )+ %+=.*$%&G$%+d 04D)+,&@+*$%+ $ 0+(H+,14*4& P5 " HHN 4,)+ 5 ,+($1&@+ 0$4 04=%$)+,&@+*$%+ 1%$,G&1.%&+ QO&(4%$ ?R3
\a
C, >$G4* 4,4& :#8 >4 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5 QP56#:RN >$%+ %+=%+G&,1F ^& O.%H$ >+$ H$& (%$@FN 62L'4* +01+ %$%+.%& ,.%H$*3 8=$%+ 04=%$)+,&@+*$%+$ )+ 0+(H+,1 P5N >$%+ >.,O.%H )+O&,&[&+&N 1%+D4&+ 0F O&+ B, H&,&H ).4F )+%&@$[&& >.H=*+H+,1$%+N YN?Z Hg *$ DF%D$[& 04D @A%01$ )+ bY )+ $,& ^& YN? Hg *$ DF%D$[& =+01+ bY )+ $,&N 0$4 YN"Z Hg *$ O+H+& B, )+%&@$[&&*+ g?'gS ^&r0$4 YN" Hg B, >+*+*$*1+ )+%&@$[&& QB, $D0+,[$ D*.>4*4& )+ %$H 01A,( 0$4 ]&=+%1%.O&+& @+,1%&>4*$%+ 01A,(&R QO&(4%$ SR Q5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O P5'0+(H+,1 +*+@$1&., $>41+ H}.>$%)&$* &,O$%>1&., .O 1]+ 64%.=+$, P.>&+1} .O 2$%)&.*.(} Q6P2RN ?Y"?R3 2+%1 +01+ >F . )4%+%+ $,(&,.$0F &H=.%1$,1F >$%+ ,4 >+)+$GF *$ ,&1%.(*&>+%&,FN >.HD&,$1 >4 . 62L >$%+ .D&+>1&@+$GF 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5N &,)&>F . H$%+ =%.D$D&*&1$1+ =+,1%4 :#83
C, >$G4* 4,4& 569N H.)&O&>F%&*+ +*+>1%.>$%)&.(%$O&>+ $4 0+,0&D&*&1$1+ ^& 0=+>&O&>&1$1+ %+)40+N O&&,) 41&*F H$& $*+0 =+,1%4 +@$*4$%+$ $O+>1F%&& ]+H.)&,$H&>+3 #.)&O&>F%&*+ H$& )+0 B,1A*,&1+ 04,1d 1$]&>$%)&$ 0&,40$*FN $0=+>1 P"†S 0$4 0+H,+ )+ 04=%$0.*&>&1$%+ $ @+,1%&>4*4*4& )%+=1 Q$f$ †7P )+@&$1F *$ )%+$=1$N D*.> )+ %$H4%F )%+$=1F 1%$,G&1.%&4N 4,)+ 5 ,+($1&@+ B, )+%&@$[&&*+ g"'gSR QL&,(]&,$ 2N ?Y"YR3 C, >$G4* 4,+& =+%&>$%)&1+ $>41+N 62L'4* +01+ %$%+.%& ,.%H$*N H.)&O&>$%+$ =%&,>&=$*F O&&,) %+=%+G+,1$1F )+ 04=%$)+,&@+*$%+$ 0+(+H+,14*4& P5 )&O4GFN >.,>$@F 04=+%&.%3 C, >$G4* 4,4& %+@F%0$1 =+%&>$%)&> $D4,)+,1 >$%+ )+,.1F 1$H=.,$)$ >$%)&$>FN 0+ B,1A*,+^1+ H&>%.@.*1$k &,>.,01$,1 ^& $*1+%,$,[F +*+>1%&>F $ >.H=*+f4*4& †7P Q`%$4,~$*)‹0 l+$%1 ;&0+$0+3 8 5+f1D..j .O 2$%)&.@$0>4*$% #+)&>&,+N ?Y"?R3
J&(4%$ S3 62L B, :#8 &,O+%&.%d 04=%$)+,&@+*$%+ 0+(H+,1 P5 >4 B,(*.D$%+$ 4,)+*.% 5 QH$f&H "\ HHR B, )+%&@$[&&*+ ;::N ;:::N $gJ
J&(4%$ ?3 62L B, $,(&,$ =+>1.%$*Fd 4,)+ 5 ,+($1&@+ B, )+%&@$[&&*+ ;::N ;:::N $gJN gb'g_
2/+')(&/"'/ ?)&/A'AF 7$)&.(%$O&$ 1.%$>&>F +O+>14$1F B, >$G4* 4,4& )4%+%& 1.%$>&>+ $,1+%&.$%+ =.$1+ O& ,.%H$*F 0$4 =.$1+ +@&)+,[&$ H.)&O&>F%& >$%+ 0F =*+)+G+ =+,1%4 4, $,4H&1 )&$(,.01&>3 C, >$G4* 4,4& :#8N $)4>+ &,O.%H$[&& 41&*+ =%&@&,) )&H+,0&4,+$ >.%)4*4& ^& =%+G+,[$ 01$G+& =4*H.,$%+ >$%+N >.*$D.%$1 >4 +f$H+,4* >*&,&>N %&)&>F 040=&>&4,+$ 4,4& +)+H =4*H.,$% $>41N >4 =%.(,.01&> H$& (%$@3 C, >$G4* 4,4& 569N +01+ %$%+.%& )&$(,.01&>FN )$% =.$1+ =%+G+,1$ ,&^1+ 0+H,+ >$%+ 0F (]&)+G+ )&$(,.01&>4*d .=$>&1$1+ 1%&4,(]&4*$%F =+ O.,) =*+4%$*N ]&=+%1%$,0=$%+,[$ 4,4& >AH= =4*H.,$% Q0+H,4* x+01+%H$%jRN +@+,14$*F =*+4%+G&+N $1+*+>1$G&+ B, D$,)F3
\\
7$)&.(%$O&$ 1.%$>&>F +01+ $)+0+.%& ,.%H$*F B, >$G4* 4,+& =+%&>$%)&1+3 ;+ *$ $>4H4*F%& H$& H$%& )+ ?ZY H*N 0+ .D0+%@F >.%)4* HF%&1N 04D O.%HF )+ K>$%$OFMN >4 ]&*4%& ,.%H$*+ QO&(4%$ bR3 P+ =.1 $,$*&G$ B, 0>]&HD $*1+ $,.H$*&& 0=+>&O&>+d %+@F%0$1+ =*+4%$*+N *+G&4,& =$%+,>]&H$1.$0+ =4*H.,$%+ 0$4 >$*>&O&>F%& =+%&>$%)&>+ 0$4 =*+4%$*+3 2+* H$& 04(+01&@ 0+H, %$)&.*.(&> B, )&0+>[&$ )+ $.%1F +01+ *F%(&%+$ H+)&$01&,4*4&3
J&(4%$ b3 80=+>1 )+ >.%) B, K>$%$OFM B, >$G4* 4,+& =+%&>$%)&1+C 0A)(&/"'/ A/&+'/AF 601+ +f1%+H )+ &H=.%1$,1F ^& $*F14%& )+ +*+>1%.>$%)&.(%$HF 1%$,^+$GF )&$(,.01&>4* B, >+*+ H$& H4*1+ )&,1%+ >$G4%&*+ )+ )4%+%+ 1.%$>&>F )+ >$4GF >$%)&$>F3 C, 1.$1+ >$G4%&*+ +01+ O.$%1+ &H=.%1$,1 )+ +@$*4$1 O4,>[&$ 0&01.*&>F $ @+,1%&>4*4& 01A,( Q=%&, HF04%$%+$ O%$>[&+& )+ +k+>[&+R )+.$%+>+ $>+01$ +01+ 4, O$>1.% )+ =%.(,.01&> &H=.%1$,1 &,)&O+%+,1 )+ =$1.*.(&$ 04D&$>+,1F3 -$ =$>&+,[&& >4 :#8N .O+%F &,O.%H$[&& =%&@&,) 14*D4%F%&*+ )+ j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f1+,0&$ )&0+>[&+&N >4$,1&O&>$%+$ &,04O&>&+,[+& $.%1&>+ 0$4 %+@F%0$14* =+%&>$%)&>3
0>Q'H*C* +* A'?)C'QF H')A/&+'AF
\X
`&.H$%j+%&& 0+%&>& 41&*& B, +@$*4$%+$ ,+>%.G+& H&.>$%)&>+ 04,1d 1%.=.,&,$ >$%)&$>F 5 ^& :N &G.+,G&H$ #` $ >%+$1&,'j&,$G+& Q2•'#`RN H&.(*.D&,$N *$>1&> )+]&)%.(+,$G$ Q-;lR 0$4 1%$,0$H&,$G$ (*41$H&>F .f$*.$>+1&>F Q5L/R3 C, =%$>1&>$ >*&,&>FN >+& H$& 41&*&G$[& H$%j+%& 04,1 1%.=.,&,$ ^& 2•'#`3 2.,O.%H 4*1&H+& )+O&,&[&& $ :#8N $>+01 )&$(,.01&> ,4 =.$1+ O& 040[&,41 OF%F >%+^1+%+$ D&.H$%j+%&*.% >$%)&$>& Q)+ =%+O+%$1 1%.=.,&,$RN >4 >+* =4[&, . 4,&1$1+ H$& H$%+ )+ 4,&1$1+$ )+ %+O+%&,[FN =+%>+,1&*$ XX Q5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O P5'0+(H+,1 +*+@$1&., $>41+ H}.>$%)&$* &,O$%>1&., .O 1]+ 64%.=+$, P.>&+1} .O 2$%)&.*.(} Q6P2RN ?Y"?R3 C, >$G4* 4,4& =$>&+,1 >4 )4%+%& $,(&,.$0+ &H=.%1$,1+N >4 H.)&O&>F%& &0>]+H&>+ =+ +*+>1%.>$%)&.(%$HFN )$% OF%F >%+^1+%+$ D&.+,G&H+*.%N @.%D&H )+0=%+ . $,(&,F =+>1.%$*F &,01$D&*F3 2]&$% ^& B, $>+$01F 0&14$[&+N %+0=+>1&@4* =$>&+,1 1%+D4&+ 4%HF%&1 ^& %+=+1$1+ +,G&H+*+ )+.$%+>+ $>+01 1&= )+ $,(&,F =.$1+ O& =%+>4%0.% $* 4,4& :#83 801O+*N B, O$[$ 4,4& =$>&+,1 *$ >$%+ +f&01F 040=&>&4,+$ )+ :#8N =+ D$G$ $,$H,+G+& ^& $ +*+>1%.>$%)&.(%$H+&N 1%+D4&+ ,+$=F%$1 ).G$1+ +,G&H+*+ )+ >&1.*&GF H&.>$%)&>F3 5%.=.,&,$ +01+ >+$ >$%+ $%+ 0=+>&O&>&1$1+ H&.>$%)&>F $=%.$=+ $D0.*41F ^& 0+,0&D&*&1$1+ %&)&>$1F ^& =%+G&,1F $@$,1$k4* 04=*&H+,1$% >F @$*.%&*+ 0$*+ %FHA, >%+0>41+ B, 0A,(+ =+,1%4 H$& H4*1+ G&*+ =41A,) $01O+* )&$(,.01&>$ 1$%)&@ 4, :#83 2•'#` 0+ (F0+^1+ =%+).H&,$,1 B, H&.>$%)N ,&@+*4* >%+^1+ %$=&) B, =%&H+*+ .%+ )4=F .>*4G&$ $%1+%+& >.%.,$%+N )$% 0>$)+ B, $=%.f&H$1&@ ).4F G&*+3 #&.(*.D&,$ +01+ +*&D+%$1F B, 0A,(+N $1&,(+ ,&@+*4* H$f&H B,$&,1+ )+ >+&*$*[& H$%j+%& )$% %+@&,+ *$ ,.%H$* B, H$& =4[&, )+ ?b )+ .%+3 ;$1.%&1F $>+014& O$=1 ^& )$1.%&1F *&=0+& +& )+ 0=+>&O&>&1$1+N O$>+ >$ @$*.$%+$ +& )&$(,.01&>F B, :#8 0F O&+ *&H&1$1F Q1$D+*4* bR Q`%$4,~$*)‹0 l+$%1 ;&0+$0+3 8 5+f1D..j .O 2$%)&.@$0>4*$% #+)&>&,+N ?Y"?R3 5$D+*4* b3 `&.H$%j+%&& B, +@$*4$%+$ =$>&+,[&*.% >4 P56#: `&.H$%j+%4* 5%.=.,&,$ : 5%.=.,&,$ 5 2•'#` #&.(*.D&,$
;+1+>[&+ S'"? ] S'"? ] S'"? ] "'b ]
gA%O "?'?b ] "?'b\ ] "?'?b ] _'a ]
T.%H$*&G$%+ Z'"Y G&*+ Z'"b G&*+ ?'S G&*+ " G&
;+ $0+H+,+$N B, 569 =+01+ ZY{ )&,1%+ =$>&+,[& $0.>&$GF >%+^1+%& $*+ 1%.=.,&,+*.% >$%)&$>+3 8>+01 O$=1 0+ )$1.%+$GF *+G&4,&& H&.>$%)&>+ 0+>4,)$%F )&*$1F%&& $>41+ $ @+,1%&>4*4*4& )%+=1N )$1.%&1F 0>F)+%&& H$%>$1+ $ =+%O4G&+& >.%.,$%&+,+ >$%+ )+1+%H&,F &0>]+H&+ H&.>$%)&>F 0$4 . >.HD&,$[&+ B,1%+ $>+^1& O$>1.%&3 2.H=$%$1&@ >4 )&,$H&>$ +,G&H$1&>F )&, :#8N B, 569 >%+^1+%+$ 1%.=.,&,+*.% +01+ )+ $H=*.$%+ H$& H&>F ^& =+ =+%&.$)F H$& 0>4%1F )+ 1&H=3 24 1.$1+ $>+01+$N ,4 +f&01F 4, H$%j+% >$%)&$> &)+$*3 2•'#` >%+^1+ ^& B, $*1+ 0&14$[&& >$%+ =%+04=4, &,k4%&+ H&.>$%)&>Fd 1%$4H$1&0HN H&.>$%)&1FN 01$%+ )+ ^.>N >]&%4%(&+ 0$4 >$1+1+%&0H >$%)&$>3 ;+ $0+H+,+$N =+ *A,(F :#8 ^& 569N 1%.=.,&,$ =.$1+ $@+$ @$*.%& =+01+ *&H&1$ 04=+%&.$%F $ ,.%H$*4*4& B, H&.=+%&>$%)&1FN 1%$4H$1&0HN &,04O&>&+,[F >$%)&$>F >.,(+01&@FN 14*D4%F%& )+ %&1HN =.01 H$0$k >$%)&$> +f1+%, 0$4 )+O&D%&*$%+N D.*& &,O&*1%$1&@+ >4 $O+>1$%+ >$%)&$>F 0$4 =$1.*.(&+ +f1%$>$%)&$>F Q+f$>+%D$%+$ `9/2N &,04O&>&+,[F %+,$*FN $%04%&N D.*& ,+4%.*.(&>+ $>41+N 0+=0&0N ]&=.1&%.&)&+R Q8==*+ JPN -+% 7N #4%$j$H& ##N ?Y"?R3
4C?* *UGC)&F&'
XY
8,(&.(%$O&$ =4*H.,$%F %+=%+G&,1F K01$,)$%)4* )+ $4%M B, )&$(,.01&>4* 569N )$% )$1.%&1F >$%$>1+%4*4& 0F4 &,@$G&@ ^& )$1.%&1F O$=14*4& >F ,4 $)4>+ &,O.%H$[&& 04=*&H+,1$%+ O$[F )+ >+*+*$*1+ 1+],&>& ,+&,@$G&@+N %FHA,+ %+G+%@$1 B,1%'4, ,4HF% %+01%A,0 )+ >$G4%&3 5.H.(%$O&$ >.H=41+%&G$1F Q0=&%$*R )+@&,+ +f=.%$%+$ )+ +*+>[&+ B, 569 +@&)+,[&&,) )+O+>14* )+ 4H=*+%+ =$%[&$* 0$4 1.1$* $* 4,4& *4H+, $%1+%&$* QO&(4%$ ZR3 C, =*40N B, )&$(,.01&>4* 569 4, %.* &H=.%1$,1 B* $%+ ).G$%+$ ;')&H+%&*.% =*$0H$1&>& $* >F%.% $@$,1$k +01+ >F $4 . @$*.$%+ =%+)&>1&@F ,+($1&@F B,$*1F3 25'4* 0$4 7#T'4* 04,1 H+1.)+ +f>+*+,1+ )+ )&$(,.01&> ^& B, )&0+>[&$ )+ $.%1FN >4 0+,0&D&*&1$1+ ^& 0=+>&O&>&1$1+ >$%+ 0+ $=%.=&+ )+ "YY{ QO&(4%$ _R3 C, *&=0$ $>+01.%$N $.%1.(%$O&$ +01+ &,@+01&($[&$ )+ +*+>[&+ =+,1%4 01$D&*&%+$ +f$>1F $ O$*)4*4& &,1&H$*N +f1+,0&$ $>+014&$ ^& $1&,(+%+$ $%1+%+*.% >.%.,$%+ 0$4 $ $*1.% >.*$1+%$*+ &H=.%1$,1+ $*+ $.%1+& QL&,(]&,$ 2N ?Y"YR3
J&(4%$ Z3 569d )+O+>1 )+ 4H=*+%+ *$ ,&@+*4* $%1+%+*.% =4*H.,$%+
J&(4%$ _3 ;&0+>[&+ )+ $.%1F 1&= `
8^$)$%N B, >$G4* 4,+& )4%+%& 1.%$>&>+ $,1+%&.$%+N =+ D$G$ $,$H,+G+&N +f$H+,4*4& >*&,&> ^& $ 4,.% &,@+01&($[&& =$%$>*&,&>+ )+ D$GF Q+*+>1%.>$%)&.(%$HFN +>.(%$O&+ >$%)&$>FN %$)&.(%$O&+ 1.%$>&>FRN 1%+D4&+ +*&H&,$1+N B, =%&H4* %A,)N )&$(,.01&>+*+ >$%+ =4, B, k.> =%.(,.01&>4* @&1$*d - :,O$%>14* H&.>$%)&> $>41 Q0$4 $*1F O.%HF )+ 0&,)%.H >.%.,$%&$, $>41R - 5%.HD+HD.*&0H4* =4*H.,$% - 9+%&>$%)&1$ >.H=*&>$1F >4 1$H=.,$)F >$%)&$>F - ;&0+>[&$ )+ $.%1F - 9,+4H.1.%$f4*3 5&/?/H*>? 9C/.* +* H*+'A/H*>?* W&,A,) >.,1 >F B, >$=&1.*4* )+ O$[F O$>+H %+O+%&%+ *$ )4%+%+$ )+ >$4GF >$%)&$>FN +f&01F $,4H&1+ >*$0+ )+ H+)&>$H+,1+ >$%+ $4 %.*4* )+ $ $H+*&.%$ )4%+%+$ ^& 0&H=1.H$1.*.(&$ B, =$1.*.(&$ >$%)&$>FN =%&,>&=$*+*+ O&&,)d - T&1%$[&&
X"
- `+1$'D*.>$,1+*+ - `*.>$,1+*+ >$,$*+*.% )+ >$*>&4 - 8,$*(+G&>+*+ Q$,1&&,O*$H$1.$%+*+ ,+01+%.&)&+,+ 0$4 =$%$>+1$H.*4*R T&1%$[&& T&1%$[&& %+$*&G+$GF @$0.)&*$1$[&+ $1A1 $%1+%&$*FN )$% H$& $*+0 @+,.$0F3 /)$1F =F1%4,^& B, >+*4*$ H40>4*$%F ,+1+)FN ,&1%$[&& +*&D+%+$GF >$,1&1F[& &H=.%1$,1+ )+ H.,.f&) )+ $G.1 QT/R >$%+ )+1+%H&,F $>1&@$%+$ (4$,&*$1 >&>*$G+& ^& >%+^1+%+$ >.,[&,414*4& )+ L#9> >++$ >+ $,1%+,+$GF %+*$f$%+$ H40>4*$14%&& ,+1+)+3 8>+01 O$=1 >.,)4>+ =+ 1+%&1.%&4* @+,.0 *$ 0>F)+%+$ =%+0$%>&,&&N >%+^1+%+$ $=.%14*4& )+ .f&(+, ^& $H+*&.%$%+$ >&%>4*$[&+& >.%.,$%&+,+N &$% =+ 1+%&1.%&4* $%1+%&$* *$ 0>F)+%+$ =.010$%>&,&&N 0>F)+%+$ %+G&01+,[+& =+%&O+%&>+ ^& . 4^.$%F )&H&,4$%+ $ 1+,0&4,&& $%1+%&$*+ Q-4**H$,, lN #.]% •N l+&, -N ?Y"YR3 :,)&>$[&&*+ =%&,>&=$*+ $*+ $)H&,&01%F%&& ,&1%$[&*.% 04,1 B, $,(&,$ =+>1.%$*F ^& B, +)+H4* =4*H.,$% $>413 6O+>1+*+ 0+>4,)$%+ ^& >.,1%$&,)&>$[&&*+ $)H&,&01%F%&& ,&1%$[&*.% 0+ %+(F0+0> B, 1$D+*4* Z3 T&1%$[&& >4 $>[&4,+ %$=&)F 04,1 O.*.0&[& B, >%&G+*+ )4%+%.$0+ )&, >$)%4* 89N =%&, $)H&,&01%$%+ 04D*&,(4$*FN O&+ 04D O.%HF )+ >.H=%&H$1+ QYNZ H(R 0$4 04D O.%HF )+ 0=%$} Q" =4O +01+ +>]&@$*+,14* $ YNb H(R3 P+ $)H&,&01%+$GF >A1+ . ).GF *$ &,1+%@$* )+ Z H&,41+3 ;$>F )4%+%+$ ,4 >+)+$GFN 1%+D4&+ $,4,[$1 0+%@&>&4* )+ >$%)&.*.(&+ )+.$%+>+ %&0>4* 4,4& :#8 +01+ >%+0>413 T&1%$[&& >4 $>[&4,+ *+,1F 0+ O.*.0+0> B, =%.O&*$f&$ 89d &0.0.%D&) )&,&1%$1 QZ'bY H( )+ ?'b .%&rG&R 0$4 H.,.,&1%$1 %+1$%) QbY'_Y H( )+ "'? .%&rG&R 0$4 =$1>]'4%& 1%$,0)+%H&>+ >4 +*&D+%$%+ *+,1F3
`+1$'D*.>$,1+*+ 8,1$(.,&^1&& %+>+=1.%&*.% w'$)%+,+%(&>& D*.>]+$GF $>[&4,+$ $)%+,$*&,+& ^& ,.%$)%+,$*&,+& *$ ,&@+*4* %+>+=1.%&*.% w3 801O+*N 0>$)+ >.,04H4* )+ .f&(+, )+ *$ ,&@+*4* H&.>$%)4*4& )$1.%&1FN H$& $*+0N 0>F)+%&& O%+>@+,[+& >$%)&$>+N 0>$)+ =.010$%>&,$ ^& 0>$)+ 4^.% O.%[$ )+ >.,1%$>[&+ $ H&.>$%)4*4&N 1.$1+ $>+01+$ )4>A,) *$ >%+^1+%+$ )+D&14*4& >.%.,$%&$, ^& $H+*&.%$%+$ 0&H=1.H$1.*.(&+& $,(&,.$0+3 ;+ $0+H+,+$N 0>$)+ 1.,404* 0&H=$1&> >+,1%$* ^& +*&D+%$%+$ )+ %+,&,F >++$ >+ )+1+%H&,F ^& +O+>14* $,1&]&=+%1+,0&@ $* D+1$'D*.>$,1+*.% Q``R Q-4**H$,, lN #.]% •N l+&, -N ?Y"YR3 :,)&>$[&&*+ `` 04,1 >*$%+ ^& 04,1 O.*.0&1+ B,d 89N ]&=+%1+,0&4,+$ $%1+%&$*F Ql58RN )&O+%&1+ $%&1H&& >$%)&$>+N =.01':#8N &,04O&>&+,[F >$%)&$>F3 `*.>$,1+ $*+ >$,$*+*.% )+ >$*>&4 `*.>$,1+*+ >$,$*+*.% )+ >$*>&4 Q`22R &,]&DF &,O*4f4* )+ &.,& )+ >$*>&4 *$ ,&@+*4* H4^>]&4*4& ,+1+) ^& B, H&.>$%)N =%.)4> @$0.)&*$1$[&+ ^& 0>$) %+G&01+,[$ @$0>4*$%F =+%&O+%&>F3 8>+01 O$=1 0+ 1%$)4>+ =%&, 0>F)+%+$ =%+ ^& =.01'0$%>&,&&N 0>F)+%+$ 1%$@$*&4*4& >$%)&$> ^& $ >.,04H4*4& )+ .f&(+,3 :,)&>$[&&*+ $)H&,&01%F%&& `22 04,1d 89N l58N $%&1H&& >$%)&$>+3 `22 0+ BH=$%1 B, ).4F H$%& >$1+(.%&&d )&]&)%.=&%&)&,+ Q;lR ^& ,.,')&]&)%.=&%&)&,+ QT;lR3 `22 ;l Q$H*.)&=&,$N ,&O+)&=&,$N O+*.)&=&,$N *+%>$,&)&=&,$R $>[&.,+$GF B, 0=+>&$* *$ ,&@+*4* =$14*4& @$0>4*$% $%1+%&$*N =%.)4> @$0.)&*$1$[&+N 0>$) %+G&01+,[$ =+%&O+%&>F ^& 58 )+1+%H&,A,) $01O+* 0>F)+%+$ =.010$%>&,&& ^& ,+@.&$ )+ .f&(+,3 84 4, +O+>1 &H=.%1$,1 ^& B,
X?
&,]&D&[&$ 0=$0H4*4& >.%.,$%&$,N )+ $>++$ 0+ O.*.0+0> B, )4%+%+$ $,(&,.$0F =+,1%4 $H+*&.%$%+$ 0&H=1.H+*.% Q-4**H$,, lN #.]% •N l+&, -N ?Y"YR3 `22 T;l Q@+%$=$H&*N )&*1&$G+HR $4 $>[&4,+ =%+=.,)+%+,1F *$ ,&@+*4* >.%)4*4&N *$ ,&@+*4* ,.)4*4& 0&,40$* ^& $1%&.'@+,1%&>4*$%N >4 +O+>1 &,.1%.= ^& >%.,.1%.= ,+($1&@ 0+H,&O&>$1&@3 P4,1 41&*+ B, =%+@+,[&$ >%&G+*.% )+ 89N )$% &,)&>$[&$ H$k.%F +01+ B, $%&1H&& >$%)&$>+ 04=%$@+,1%&>4*$%+3 5$D+*4* Z3 6O+>1+*+ $)@+%0+ ^& >.,1%$&,)&>$[&&*+ H+)&>$H+,1+*.% $,(&.,.$0+ 2*$0$
6O+>1+ 0+>4,)$%+
2.,1%$&,)&>$[&&
T&1%$[&&
l&=.1+,0&4,+$ $%1+%&$*F P&,>.=FN *&=.1&H&+ 2+O$*++ J*40]&,( 5$]&>$%)&+ %+O*+fF #+1]+H.(*.D&,+H&+ 5.*+%$,[F *$ ,&1%$[& l&=.1+,0&4,+$ $%1+%&$*F `%$)&>$%)&+ `%.,].0=$0H 801+,&+ ;+=%+0&+ :H=.1+,[F :,0.H,&+ l&=.(*&>+H&+ 6)+H+ =+%&O+%&>+ l&=+%(*&>+H&+ 7+$>[&& $*+%(&>+ 5$]&>$%)&+ 2+O$*++
2$%)&.H&.=$1&$ ]&=+%1%.O&>F .D01%4>1&@F P1+,.GF $.%1&>F 0+@+%F
`+1$'D*.>$,1+*+
`*.>$,1+*+ >$,$*+*.% )+ >$*>&4
`%$)&>$%)&& `*.>4%& $1%&.'@+,1%&>4*$%+ 801H D%.,^&> ˜ `%.,].=,+4H.=$1&+ >%.,&>F .D01%4>1&@F `.$*F $%1+%&$*F =+%&O+%&>F 0+@+%F 8,(&,F @$0.0=$01&>F l&=.1+,0&4,+ $%1+%&$*F U.> >$%)&.(+,
8,$*(+G&>+*+ P1%&>1 =+,1%4 $H+*&.%$%+$ )4%+%&& $>41+ >$%)&$>+N $,$*(+G&>+*+ $4 4%HF1.$%+*+ &,)&>$[&&d - #.%O&,$ e B, :#8N +)+H4* =4*H.,$% $>41 Q)4=F >.,O&%H$%+$ )&$(,.01&>4*4&–Rq - 8,1&&,O*$H$1.$%+ ,+01+%.&)&+,+ Q8:TPR 0$4 =$%$>+1$H.* e B, :#8N 89N =+%&>$%)&1+3 !AD*H* ?*&/G*@?'A* !" NO 8)2$'&3 C, $H+*&.%$%+$ 0&H=1.H$1.*.(&+& $,(&,.$0+ ^& =+,1%4 =%+@+,[&$ +@+,&H+,1+*.% >$%)&.@$0>4*$%+N >*$0+*+ )+ H+)&>$H+,1+ >+* H$& O%+>@+,1 O.*.0&1+ 0+ %+(F0+0> B, 1$D+*4* _3 J2$(&+& ^C L&28(&( 1( >.%.,$%} 9(1'/29(")( D1+,3 Q5]+.O5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O 01$D*+ $%1+%}=%&%8')( )&0+$0+5".O NO 1]+ 8)2$'&3 64%.=+$, P.>&+1} 2$%)&.*.(}N ?Y"SR #+)&>$[&$ N9(&'%*2*(2 1+*(*'' 2"A'"%28( T&1%$[& >4 $>[&4,+ )+ 0>4%1F )4%$1F `+1$'D*.>$,1+ `*.>$,[& $& >$,$*+*.% )+ >$*>&4 T&1%$[& >4 $>[&4,+ )+ *4,(F )4%$1F
2*$0$ )+ %+>.H$,)$%+
T&@+* )+ +@&)+,[F
:
` 8 8 `
: : ::$
XS
:@$D%$)&,$N T&>.%$,)&*N 7$,.*$G&,$ 5%&H1+1$G&)&,$ O*(7("?'2 (7("'9(")(&%* /2*1'%728/+&2*( 80=&%&,F B, ).GF >$%)&.*.(&>F r 2*.=&).(%+* P1$1&,F
::$ ::D
` `
: :
8 8
C, >$G4* B, >$%+ +01+ ,+@.&+ )+ 1%$1$H+,1 )+ %+@$0>4*$%&G$%+ H&.>$%)&>FN +f&01F ).4F 0.*4[&&d 8,(&.=*$01&$ 1%$,0*4H&,$*F =+%>41$,F >4 01+,1 `}'=$00 $.%1.'>.%.,$%&$, !" '"=2*/)+& 9'%/2*1'/ 2/+) L` 8+,*21("'7(&2*( 1( 8(A9(") IJ DIJYUPE 5%$1$H+,14* 01$,)$%) &,&[&$* >$%+ 1%+D4&+ $)H&,&01%$1 *$ .%&>+ D.*,$@ >4 :#8 >.,O&%H$1 +01+ Q5$0j J.%>+ ., 1]+ H$,$(+H+,1 .O P5'0+(H+,1 +*+@$1&., $>41+ H}.>$%)&$* &,O$%>1&., .O 1]+ 64%.=+$, P.>&+1} .O 2$%)&.*.(} Q6P2RN ?Y"?Rd - 80=&%&,F SYY H( - 2*.=&).(%+* _YY H( - l+=$%&,F ,+O%$>[&.,$1F ZYYY < - 81.%@$01$1&,F \Y H( 8H+*&.%$%+$ )4%+%&& B, :#8 +01+ &H=.%1$,1F )+.$%+>+ )+1+%H&,F 01&H4*$%+$ 0&01+H4*4& ,+%@.0 0&H=$1&> >$%+ >.,)4>+ *$ @$0.>.,01%&>[&+ ^& >%+^1+%+$ $>1&@&1F[&& H+>$,&>+ $ >.%)4*4&3 8,$*(+G&>+*+ =%+O+%$1+ 04,1 .=&.G&& &,1%$@+,.^& QH.%O&,$ b'\ H( >4 04=*&H+,1$%+$ >4 ? H( *$ Z'"Z H&,41+R )$% $)H&,&01%$%+$ 1%+D4&+ OF>41F 04D 01%&>1F 04=%$@+(]+%+ $@A,) B, @+)+%+ +O+>1+*+ $)@+%0+ Q(%+$[FN @F%0F14%&N D%$)&>$%)&+N ]&=.1+,0&4,+N )+=%+0&+ %+0=&%$1.%&+R3 -$ =$>&+,[&& O.$%1+ $,f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f$>1 >+* H+,[&.,$1 ^& B, >$G4* P56#:3 9+,1%4 $H+*&.%$%+$ 0&H=1.H$1.*.(&+& &0>]+H&>+N 1%$1$H+,14* .%$*r&,1%$@+,.0 >4 ,&1%$[& +01+ &,)&>$1 =+,1%4 %+H&1+%+$ $,(&,+& Q>*$0$ )+ %+>.H$,)$%+ : ,&@+* )+ +@&)+,[F 2R3 5%$1$H+,4* .%$* >4 D+1$'D*.>$,1+ +01+ &,)&>$1 1414%.% =$>&+,[&*.% OF%F >.,1%$&,)&>$[&& >4 )&0O4,>[&+ )+ @+,1%&>4* 01A,( Q>*$0$ )+ %+>.H$,)$%+ : ,&@+* )+ +@&)+,[F `R3 `22 )&]&)%.=&%&)&,&>+ 04,1 %+>.H$,)$1+ =+,1%4 %+)4>+%+$ 0&H=1.H$1.*.(&+& >+*.% >$%+ =%&H+0> )+k$ ,&1%$[& ^& D+1$' D*.>$,1+ Q>*$0$ )+ %+>.H$,)$%+ : ,&@+* )+ +@&)+,[F `R Ql$HH 2xN `$00$,) m9N 8(+~$** P +1 $*3N ?Y""R3 C, 0>]&HDN B, :#8 OF%F 04=%$)+,&@+*$%+$ 0+(H+,14*4& P5N $,$*(+G&>+*+ ,4 04,1 %+>.H$,)$1+N $D0+,[$ 0$4 %+$=$%&[&$ )4%+%&& O&&,) >%&1+%&& +0+,[&$*+ )+ H.,&1.%&G$%+ $ =$>&+,14*4& ^& $ +@.*4[&+& D.*&&3
Xb
!" )*%9$(9$%&'89+& ,+&9%"2* C, >$G4* 569N )&01&,(+H ).4F 0&14$[&& =$%1&>4*$%+d 569 >4 %&0> B,$*1N >4 H.%1$*&1$1+ "Z{ e 04,1 =$>&+,[& &,01$D&*& ]+H.)&,$H&>N B, ^.> >$%)&.(+, 0$4 >4 ]&=.1+,0&4,+ 0+@+%F Q1+,0&4,+$ $%1+%&$*F 0&01.*&>F ™ XY HHl(RN *$ >$%+ ,4 H$& +01+ .D*&($1.%&+ >.,O&%H$%+$ )&0O4,>[&+& )+ @+,1%&>4* )%+=1 =+,1%4 $ +@$*4$ %&0>4* >%+0>41 )+ )+>+0 =%+>.>+q 569 >4 %&0> &,1+%H+)&$% 0$4 0>FG41 e 04,1 =$>&+,[& 01$D&*& ]+H.)&,$H&>N >$%+ =.1 $0.>&$ 0$4 ,4 )&0O4,>[&+ )+ g; 0$4 &,k4%&+ H&.>$%)&>F Q).@+)&1F =+ D$G$ =.G&1&@F%&& 1%.=.,&,+& >$%)&$>+R3 C, >$G4* =$>&+,[&*.% >4 569 >4 %&0> B,$*1N %+>.H$,)F%&*+ 04,1 H+,[&.,$1+ B, 1$D+*4* a3" 5$D+*4* a3 7+>.H$,)F%& )+ 1%$1$H+,1 *$ =$>&+,[&& >4 569 >4 %&0> B,$*1 Q)4=F DJ%*$'/F' N. O(**'(* N. n%"8)2")'"'1(8 I () 2&C. cggmE R 7+>.H$,)F%& 8,1&>.$(4*$%+$ >4 ]+=$%&,F #+)&>$H+,1+ @$0.=%+0.$%+ /f&(+,.1+%$=&+ *$ =$>&+,[&& >4 ]&=.f+H&+ 5+%$=&+ 1%.HD.*&1&>F 6HD.*+>1.H&+ =4*H.,$%F >]&%4%(&>$*F QB, >$G )+ +^+> r >.,1%$&,)&>$[&& *$ 1%.HD.*&GFR 6HD.*+>1.H&$ =+ >$1+1+% Q>$ $*1+%,$1&@F *$ 1%$1$H+,14* >]&%4%(&>$*R
2*$0$ : : : : :
T&@+* 8 2 2 8 2
::D
2
C, >$G4* =$>&+,[&*.% >4 569 >4 %&0> &,1+%H+)&$% 0$4 0>FG41N $,1&>.$(4*$%+$ >4 ]+=$%&,F %+=%+G&,1F . &,)&>$[&+ O+%HFN 4%H$1 )+ 1%$1$H+,1 =+ 1+%H+, *4,( >4 $,1$(.,&^1& $& @&1$H&,+& • QB, O4,>[&+ ^& )+ O$>1.%&& =%+>&=&1$,[& $& 569RN &$% 1%.HD.*&G$ )+ %41&,F ,4 +01+ %+>.H$,)$1FN =41A,) O& *4$1F B, >.,0&)+%$%+ ).$% *$ $,4H&[& =$>&+,[& 0+*+>[&.,$[& >4 569 >4 %&0> &,1+%H+)&$% Q>*$0$ )+ %+>.H$,)$%+ ::D ,&@+* )+ +@&)+,[F `R Q5.%D&>j& 8N 9+%%&+% 8N •.,01$,1&,&)+0 P +1 $*3N ?YY\R3 !" ,(*'/2*1')3 5%$1$H+,14* 0&H=1.H$1&> =%+04=4,+ *&H&1$%+$ +O.%14*4& O&G&> ^& &,1+%,$%+$ B, @+)+%+$ 01$D&*&%&& +1&.*.(&+& ^& 4%HF%&%&& +@.*4[&+& 04D 1%$1$H+,13 C, >$G4* B, >$%+ =$>&+,14* +01+ 04D 1%$1$H+,1 >4 $,1&>.$(4*$,1+N $>+01+$ 1%+D4&+ .=%&1+ )$1.%&1F %&0>4*4& >%+0>41 )+ 1$H=.,$)F >$%)&$>F3 5+%$=&$ )4%+%&& $%+ *$ D$GF $)H&,&01%$%+$ )+ 8:TP Q>*$0$ )+ %+>.H$,)$%+ : ,&@+* )+ +@&)+,[F `RN &D4=%.O+,4* O&&,) )+ +*+>[&+ )$1.%&1F +O+>1+*.% $)@+%0+ %$%+N $ &H=$>14*4& O$@.%$D&* $04=%$ >&%>4*$[&+& >.%.,$%&+,+ ^& =.0&D&*&1F[&& )+ $k401$%+ $ ).G+&3 P+ $)H&,&01%+$GF SYY'\YY H( *$ O&+>$%+ _'\ .%+N =%+O+%$D&* =A,F *$ )&0=$%&[&$ *&>]&)4*4& =+%&>$%)&>3 8*1+%,$1&@F *$ 1%$1$H+,14* >4 &D4=%.O+, +01+ $0=&%&,$ B, ).G+ )+ SYY'_YY H( *$ b'_ .%+3 8HD+*+ 0&14$[&& ,+>+0&1F ^& 1%$1$H+,1 ($01%.'=%.1+>1.%3 C, >$G )+ )4%+%+ =+%0&01+,1F 04D 1+%$=&$ >4 8:TPN $)H&,&01%$%+$ )+ =$%$>+1$H.* %+=%+G&,1F . 0.*4[&+ $,$*(+G&>F Q#$&0>] `N P+O+%.@&— 9#N 7&01&— 8; +1 $*3N ?YYbR3 C, 1%$1$H+,14* ^& =%+@+,&%+$ %+>4%+,[+*.%N >.*>]&>&,$ QYNZ H( f ?rG&R $0.>&$1F 8:TP 0$4 B, H.,.1+%$=&+ %+=%+G&,1F . @$%&$,1F 1+%$=+41&>F Q>*$0$ )+ %+>.H$,)$%+ ::$ ,&@+* )+ +@&)+,[F `RN O&&,) D&,+ 1.*+%$1F ^& >4 +O+>1+ $)@+%0+ H$& =4[&,+ )+>A1 8:TP3 2.%1&>.G&& 04,1 &,)&>$[& ).$% *$ =$>&+,[&& >4 01$%+ (+,+%$*F $*1+%$1F 0$4 >4 %+>4,%+,[+ O%+>@+,1+ Q>*$0$ )+ %+>.H$,)$%+ ::$ ,&@+* )+ +@&)+,[F 2R B, ).GF )+ "'"NZ H(rj(>N H&,&H . *4,FN >4 0>F)+%+$ =%.(%+0&@F $ ).G+*.%3
XZ
9+%&>$%)+>1.H&$ $%+ &,)&>$[&+ ).$% *$ =$>&+,[&& >4 %+>4%+,[+ O%+>@+,1+ ^& 0&H=1.H$1&>+N %+G&01+,1+ *$ 1+%$=&$ O$%H$>.*.(&>F3 !" 1'8(/?'2 1( 2%*)3 ;&0+>[&$ )+ $.%1F %+=%+G&,1F . 4%(+,[F H+)&>.'>]&%4%(&>$*F3 ;&0+>[&$ )+ $.%1F $0>+,)+,1F Q1&=4* 8R ,+>+0&1F &,1+%@+,[&+ >]&%4%(&>$*F &H+)&$1FN $@A,) . H.%1$*&1$1+ .=+%$1.%&+ )+ "Z'SZ{ Q:,>+ lN T&+,$D+% 28N ?YYaR3 2.,1%.*4* )4%+%&& =.$1+ O& %+$*&G$1 =%&, $)H&,&01%$%+$ H.%O&,+&3 C, )&0+>[&$ )+ $.%1F )+0>+,)+,1F Q1&=4* `RN %+>.H$,)$%+$ =%&,>&=$*F +01+ )+ 1%$1$H+,1 H+)&>$H+,1.03 P>.=4* 1+%$=&+& +01+ )+ $ 0>F)+$ 1+,0&4,+$ $%1+%&$*F Q.D&+>1&@ $* 1+,0&4,&& $%1+%&$*+ 0&01.*&>+ "YY'"?Y HHl(R ^& O%+>@+,[$ >$%)&$>F QB, k4% )+ _Y DF1F&rH&,41RN >.,)4>A,) *$ 0>F)+%+$ H.)&O&>F%&*.% =%+0&.,$*+ B, =+%+1+*+ $.%1&> B, $^$ O+* B,>A1 0F BH=&+)&>+ =%.(%+0&$ )&0+>[&+&3 `+1$'D*.>$,1+*+ %+=%+G&,1F 1%$1$H+,14* )+ +*+>[&+N )$% H$k.%&1$1+$ =$>&+,[&*.% ,+>+0&1F $0.>&+%+$ H$& H4*1.% $,1&]&=+%1+,0&@+3 8*1+ H+)&>$H+,1 >4 +O+>1+ &,.1%.=+ ,+($1&@+ 04,1 D*.>$,1+*+ >$,$*+*.% )+ >$*>&4 0$4 ,&1%.=%40&$14* )+ 0.)&4 QL&,(]&,$ 2N ?Y"YR3
X_
Evaluare pt:
Evaluarea
-
Stabilizare ! Instabil
Stabil ECG 12
+
STEMI TEP Disec'ie aortic# TC
ST )
STEMI
ST ( ±
Markeri de necroz# cardiac#
+
Posibil # AI
Pericardit#
ST
Pneumotorax +
Rx T
Mediastin l#rgit. Probabilitate disec'ie aortic# ?
Non-STEMI
+
Ecocord / CT / RMN
Disec!ie
Diagnostic Pneumoni
SCA? & Markeri de necroz # cardiac #
Risc de
Risc de
! Markeri +
Non-
Markeri N
Posibil!
!
!
!
CT / CT /
D-dimeri +
Markeri N + Probabilitate SCA sc#zut#
Dia nostic
Diagnostic
TEP
+
Diagnostic
Disec' ie aortic#
J&(4%$ a3 8*(.%&1H =+,1%4 +@$*4$%+$ &,&[&$*F $ 4,4& =$>&+,1 >4 )4%+%+ 1.%$>&>F3 8D%+@&+%&d 8: $,(&,F &,01$D&*Fq 25 >.H=41+% 1.H.(%$Oq 62L +*+>1%.>$%)&.(%$HFq T ,.%H$*q ,.,' P56#: &,O$%>1 H&.>$%)&> $>41 OF%F 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5q 7#T %+G.,$,[F H$(,+1&>F ,4>*+$%Fq 7f 5 %$)&.(%$O&+ 1.%$>&>Fq P28 0&,)%.H >.%.,$%&$, $>41q P5 š 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5q P5 › 04D)+,&@+*$%+ )+ 0+(H+,1 P5q P56#: &,O$%>1 H&.>$%)&> $>41 >4 04=%$)+,&@+*$%+ )+ 0+(H+,1 P5q 52 1$H=.,$)F >$%)&$>Fq 569 1%.HD+HD.*&0H =4*H.,$%q g9 @+,1&*$[&+'=+%O4G&+ 0>$,3 8)$=1$1 )4=F DZ*2+"G2&1o8 M(2*) ;'8(28(C N J(<)$%%F %= L2*1'%728/+&2* U(1'/'"(. cg]cE3 X'KC')(&/"'* "3 `$0D$4H 8N `40],+** #2N P>&+,>+ .O =$&,3 8H01+%)$HN T-d 6*0+@&+% ?YYX3 ?3 ;4%+%+$N @.*3 yy::: T%3 Sr?Y"SN "be"Z3 S3 5$%EF4 -N #4,(&4 /3 23N 8,$*(+G&>+ I& $,1&&,O*$H$1.$%+ ,+01+%.&)&+,+d (]&) =%$>1&>N :$I&N 6)&14%$ ;$,N ?YYa3
Xa
b3 6P2 (4&)+*&,+0 ., 1]+ )&$(,.0&0 $,) 1%+$1H+,1 .O =+%&=]+%$* $%1+%} )&0+$0+ e 64%.=+$, l+$%1 m.4%,$* Q?Y""R S?N ?\Z"e?XY_3 Z3 7$~$* T3 9.01.=+%$1&@+ =$&, $,) &10 H$,$(+H+,13 :, 7$~$* T3N +)3 #$,$(+H+,1 .O 8>41+ $,) 2]%.,&> 9$&,3 -.,).,d `#m `..j0N "X\X3 _3 c)%+]4I 2N L]&)4%& =+,1%4 0+)$%+ I& $,$*(+G&+ *$ =$>&+,14* >%&1&> B, 8>14$*&1FE& B, $,+01+G&+N 1+%$=&+ &,1+,0&@F I& H+)&>&,F )+ 4%(+,EFN 5&H&I.$%$N ?YY_3 a3 `+*B& 8N J&G&.*.(&$ ,.>&>+=E&+& I& H$,$(+H+,14* )4%+%&& =+%&.=+%$1.%&&3 \3 #+*G$>j 7N •$1G mN 9$&, H+$04%+H+,1 &, =+%0.,0 &, =$&,3 :, x$** 9;N #+*G$>j 7N +)03 5+f1D..j .O =$&,3 6)&,D4%(N P>.1*$,)d 2]4%>]&** -&@&,(01.,+N "XXbd SSaeZZ"3 X3 T.%(%+, -N l&$11 x7N ;.%H$,)} m8N T+]*+% #7N l$%%&0 •8N J.~j+0 JL73 :,1+%'P.>&+1} 2.,0+,040 O.% 1]+ #$,$(+H+,1 .O 9+%&=]+%$* 8%1+%&$* ;&0+$0+ Q58P2 ::R3 m g$0> P4%( ?YYaqbZdPZeP_a3 "Y3 #$%%+1 6 I& >.*N 6OO+>10 .O ,.,01+%.&)$* $,1&&,O*$H$1.%} )%4(0 ., =$1&+,1 >.,1%.**+) $,$*(+0&$ H.%=]&,+ 0&)+ +OO+>10d H+1$$,$*}0&0 .O %$,).H&0+) >.,1%.**+) 1%&$*03 8,+01]+0&.*.(} ?YYZq "Y?Q_Rd "?bXe"?_Y3 ""3 `$&)}$ ;3 •3N 8($%~$* 8N •]$,,$ 9N 8%.%$ #N 9%+($D$*&, &, $>41+ $,) >]%.,&> =$&,3 m 8,$+01]+0&.* 2*&, 9]$%H$>.*3 ?Y"" m4*'P+=q ?aQSRd SYaeS"b3 "?3 #.,1(.H+%} P8N 9%+($D$*&, O.% 1]+ 1%+$1H+,1 .O (+,+%$*&G+) $,f&+1} )&0.%)+%3 6f=+%1 .=&, 9]$%H$>.1]+%3 ?YY_q ad ?"SXe?"Zb3 "S3 P.HH+% 2N +)3N 9$&, &, 9+%&=]+%$* T+%@+ ;&0+$0+03 9$&, l+$)$>]+N @.* "S3 `$0+*N 2ld •$%(+%N ?YY"3 "b3 `%.~, PN •&%j=$1%&j #N P~$,0., #N #>•+,G&+ :N 9$&, 6f=+%&+,>+ .O 1]+ 6*)+%*}3 9$&, #$,$( T4%03 ?Y""q"?QbRd"XYe"X_3 "Z3 ]11=drr~~~3$%0)3%.r(]&)4%&3]1H* "_3 #+$).~0 5 +1 $**N 61],&> ;&OO+%+,>+0 &, 1]+ 9%+@$*+,>+ $,) 5%+$1H+,1 .O 2$%)&.@$0>4*$% 7&0j J$>1.%0 :,
X\
pW2 1%+&(+* (8) /%99( /())( )'A( 1( =(* q+( &(8 8/+&,)(+*8 9())(") 2+ 8('" 1( &(+* A&2'8(. (&&( 8%+)'(")ir P/0/%Q *" A,1J,) N120204 P4!91;42: 2&=%&$, 7+G4^"NSN 6*+,$ 7+G4^?NSN T&>.*+1$ ;&H$"N7.f$,$ 7404" " 2*&,&>$ ::: #+)&>$*FN P=&1$*4* 2*&,&> m4)+E+$, )+ <%(+,[+ KPO3 P=&%&).,n :$^& ? 2*&,&>$ : 7+4H$1.*.(&+N P=&1$*4* 2*&,&> )+ 7+>4=+%$%+ :$^& S <,&@+%0&1$1+$ )+ #+)&>&,F ^& J$%H$>&+ KL%3 53 9.=$n :$^&
C, =%$>1&>$ G&*,&>FN )4%+%+$ %+=%+G&,1F . %+$*&1$1+ $*$%H$,1F >+ $H=%+,1+$GF O&+>$%+ $0=+>1 $* @&+E&&N >.,01&14&,) >+* H$& O%+>@+,1 0&H=1.H =+,1%4 >$%+ =$>&+,14* 0+ $)%+0+$GF 4,4& 0+%@&>&4 H+)&>$* ‚"ƒ3 ;4%+%+$ +01+ . 0+,G$E&+ D&)&H+,0&.,$*FN O&&,) . +f=+%&+,EF =+%0.,$*F $1A1 .D&+>1&@F >A1 I& 04D&+>1&@F3 80=+>14* .D&+>1&@ +01+ $0.>&$1 *+G&4,&& 1&04*$%+N >A,) )4%+%+$ )+@&,+ =+%0&01+,1FN B,0.E&,)4'0+ )+ &,O*$H$E&+3 80=+>14* 04D&+>1&@ =%+G&,1F H$& H4*1+ >.H=.,+,1+ Q$O+>1&@FN >.H=.%1$H+,1$*FN =+%>+=14$*F I& >.(,&1&@FR >+ )&O+%F )+ *$ 4, &,)&@&) *$ $*14*3 2.H=.,+,1$ $O+>1&@F $%+ *$ D$GF 01$1404* +H.E&.,$* $* =$>&+,14*4&q >+$ >.H=.%1$H+,1$*F >.,01F B, $D&*&1$1+$ )+ %+*$E&.,$%+ $ =$>&+,14*4& %+O+%&1.$%+ *$ +@+,&H+,14* )4%+%.03 2.H=.,+,1$ =+%>+=14$*F &,>*4)+ *.>$*&G$%+$N &,1+,0&1$1+$ I& )4%$1$ 01&H4*4*4& $*(.(+,N >+ @$%&$GF 0+H,&O&>$1&@ )+ *$ 4, =$>&+,1 *$ $*14*N B, 0=+>&$* =%&, >.H.%D&)&1FE&*+ $0.>&$1+3 2.H=.,+,1$ >.(,&1&@F 0+ %$=.%1+$GF *$ +@+,&H+,1+*+ )4%+%.$0+ $,1+%&.$%+ ‚?ƒ3 N@&*&*/ /A@?F %+=%+G&,1F . %+$>E&+ O&G&.*.(&>F O4,)$H+,1$*F )+ $=F%$%+ >+ >.,I1&+,1&G+$GF &,)&@&)4* B, >$G4* 4,.% *+G&4,& 1&04*$%+ =%&, $(%+0&4,+$ 4,.% 01&H4*& ,.>&@&3 P+ B,0.E+I1+ )+ .D&>+& )+ O+,.H+,+ @+(+1$1&@+ Q$,f&+1$1+N l58N =$*=&1$E&&N ]&=+%1.,&+R3 C, $=$%&E&$ )4%+%&& 04,1 &H=*&>$1+ b =%.>+0+ O&G&.*.(&>+d 1%$,0)4>E&$N 1%$,0H&0&$N H.)4*$%+$N =+%>+=E&$3 2.,>.H&1+,1 +@.*4E&+& =%.>+04*4& &,O*$H$1.%N 0+ %+H$%>F +f1&,)+%+$ %+(&4,&& )4%+%.$0+ Q]&=+%$*(+G&+ 0+>4,)$%FR3 8,$*&G$1.%4* )4%+%&& +01+ >.,+>1$1 >4 1.$1+ 01%4>14%&*+ PT2N O&&,) >+* >$%+ 0+H,$*+$GF )+0=%+ +f&01+,E$ 4,.% >.,)&E&& =$1.*.(&>+N >4 =.1+,E&$* *+G&.,$*N 0$4 )+0=%+ =%+G+,E$N )+k$N $ *+G&4,&&3 #$>%.O$(+*+ $>1&@$1+ =%&, =%.)4>+%+$ *+G&4,& 1&04*$%+N 01&H4*+$GF O.0O.*&=$G$ 8?N >$%+ =.$1+ +*&D+%$ $>&)4* $%$]&).,&>N =%+>4%0.% $* =%.01$(*$,)&,+*.% 6?3 6*&D+%$%+$ B, PT2 $ =%.01$(*$,)&,+*.% 6?N )+1+%H&,F $=$%&E&$ O+D%+& I& +f1&,)+%+$ )4%+%&&3 <,+.%&N +01+ =.0&D&* >$ )4%+%+$ 0F O&+ %+0&HE&1F I& >.,0+>41&@ 4,.% 01&H4*& &,.O+,0&@& Q$*.)&,&+R ‚SN bƒ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f.(+,&3 X)/C/ /&?*&'/CF G*&'"*&'AF Q`89R %+=%+G&,1F =%.D*+HF H$k.%F B, =$1.*.(&$ >$%)&.@$0>4*$%FN $1A1 =%&, ,4HF%4* H$%+ )+ =$>&+,E& =*4%&@$0>4*$%& I& >$%$>1+%4* &,@$*&)$,1 $* D.*&&N >A1 I& =%&, &,>&)+,E$ %&)&>$1FN )&O&>4*1FE&*+ )&$(,.01&>+ I& H$& $*+0 1+%$=+41&>+3 81+%.0>*+%.G$ 0&01+H&>F )+1+%H&,F $O+>1$%+$ @$0+*.% =+%&O+%&>+ B, =+01+ XY{ )&, >$G4%&N
XX
)+G@.*1A,)4'0+ 4*1+%&.% 4, 1$D*.4 >*&,&> )+ &0>]+H&+ $%1+%&$*F >%.,&>F 0$4 $>41F3 P14)&&*+ +=&)+H&.*.(&>+ )+H.,01%+$GF >F =%+@$*+,E$ `89 +01+ B, 01%A,0F >.%+*$E&+ >4 @A%01$3 -$ O+H+&N =%+@$*+,E$ +01+ H$& %+)40F )+>A1 *$ DF%D$E&& )+ $>++$I& @A%01FN >4 O.%H+ >*&,&>+ H$& =4E&, $(%+0&@+3 :,>&)+,E$ $,4$*F $ $H=41$[&&*.% H$k.%+ +01+ B,1%+ "?Y ^& ZYY >$G4%&rH&*&., B, %A,)4* =.=4*$[&+& (+,+%$*+N )&, >$%+ 4, ,4HF% $=%.f&H$1&@ +($* 04,1 04=+%&.% 0$4 &,O+%&.% )+ $%1&>4*$E&$ (+,4,>]&4*4&3 9%.(,.01&>4* $>+01.% =$>&+,[& +01+ %+G+%@$13 5+,)&,[+*+ @&&1.$%+ B, +=&)+H&.*.(&$ `89 04,1 )&O&>&* )+ $=%+>&$1 >$ 4%H$%+ $ H.)&O&>F%&& O$>1.%&*.% )+ %&0> B, %A,)4* =.=4*$[&+&N B, 0=+>&$* O4H$14*N )&$D+14* G$]$%$1N )&0*&=&)+H&$N .D+G&1$1+$N =%+>4H I& )$1.%&1F >%+I1+%&& =.=4*$E&+& @A%01,&>+ ‚Zƒ3 `.$*$ $%1+%&$*F =+%&O+%&>F =%+G&,1F . +1&.*.(&+ H4*1&O$>1.%&$*FN 0&H=1.H$1.*.(&$ $*(&>F ).H&,A,) 1$D*.4* >*&,&>N >.,>.H&1+,1 $0.>&&,)4'0+ >.H.%D&)&1FE& 0+@+%+ Q>$%)&.@$0>4*$%+N >+%+D%$*+N %+,$*+N )&$D+1 G$]$%$1 +1>R3 `89 0+ 01$)&$*&G+$GF >.,O.%H >*$0&O&>F%&*.% K%")2'"( I& T+)@(*=%*1 ‚Zƒ3 !?/+'/C'Q/&*/ AC'>'AF / K)C'' /&?*&*C)& H*HK&*C)& '>"*&')/&* L1,#(:(),%", '/0.,(0"
P1$)&4* :
L1,#(:(),%", O+.?"%:/%*
P&H=1.H+ 80&H=1.H$1&>
œ œ
::
2*$4)&>$E&+ &,1+%H&1+,1F
œ
::: :g
;4%+%+ &0>]+H&>F B, %+=$40 <*>+%$E&& 0$4 ($,(%+,F
œ œ
L%$) Y " " " :: ::: :::
2$1+(.%&+ Y " ? S b Z _
P&H=1.H+ 80&H=1.H$1&> 2*$4)&>$E&+ 4I.$%F 2*$4)&>$E&+ H.)+%$1F 2*$4)&>$E&+ 0+@+%F ;4%+%+ &0>]+H&>F B, %+=$40 9&+%)+%+ H&,.%F )+ E+041 9&+%)+%+ H$k.%F )+ E+041
,)?/ K*>*d I& =$>&+,E&& $0&H=1.H$1&>& =%+G&,1F 4, %&0> B,$*1 =+,1%4 +@+,&H+,1+ >$%)&.@$0>4*$%+ ‚Zƒ– 0I/C@/&*/ AC'>'AF / +@&*&''# 601+ )&O&>&*F )+.$%+>+ +1&.*.(&$ +01+ H4*1&=*FN H+>$,&0H+*+ 04,1 >.H=*+f+ I&N )+ >+*+ H$& H4*1+ .%& 04,1 H&,&H$*&G$1+ $0=+>1+*+ =0&]&>+ I& >.H=.%1$H+,1$*+3 C, $D0+,E$ 4,+& +@$*4F%& >.%+>1+ $ )4%+%&&N $,$*(+G&$ =.$1+ O& &,$)+>@$1F3 9%.1.>.*4* )+ +@$*4$%+ &,>*4)+ .D*&($1.%&4 $,$H,+G$ I& +f$H+,4* >*&,&> =+ $=$%$1+ I& 0&01+H+N *$ >$%+ 0+ $)$4(F %+G4*1$1+*+ &,@+01&($E&*.% =$%$>*&,&>+ QD&.*.(&>+N &H$(&01&>+R ‚_ƒ3 9A,F B, =%+G+,1N ,4 +f&01F . H+1.)F .D&+>1&@F )+ HF04%$%+ $ )4%+%&&3 C, +@$*4$%+$ &,1+,0&1FE&& )4%+%&& 0+ 41&*&G+$GF )&@+%0+ >]+01&.,$%+N =%+>4H I& 4,+*+ 0>$*+ 4,&)&H+,0&.,$*+ =+,1%4 )4%+%+3 2+*+ H$& 41&*&G$1+ 0>$*+ 04,1 0>$*$ $,$*.( @&G4$*F Qg8P e @&04$* $,$*.(4+ 0>$*+RN 0>$*$ ,4H+%&>F QT7P e ,4H+%&>$* %$1&,( 0>$*+RN 0>$*$ @+%D$*F Qg7P e @+%D$* %$1&,( 0>$*+Rd - g8Pd =$>&+,14* +01+ %4($1 0F =.G&E&.,+G+ >4%0.%4* =+ . K%&(*F $ )4%+%&&nN ,4H+%.1$1F )+ *$ Y *$ "Y =+ $>+$ >&O%FN >.,>.%)$,1F >4 &,1+,0&1$1+$ )4%+%&& =+ >$%+ . %+0&H1+N B, *&H&1+*+ K)4%+%+ $D0+,1F Y e )4%+%+ H$f&H$* &H$(&,$%F "Y =4,>1+Rq =4,>1$k H$f&Hd "" QY'"YRq - T7Pd =$>&+,14* +01+ %4($1 0F K$>.%)+ . ,.1Fn &,1+,0&1FE&& )4%+%&& *4&N )+ *$ Y QOF%F )4%+%+R *$ "Y Q)4%+%+ H$f&H$* &H$(&,$%FRq =4,>1$k4* H$f&H "" =4,>1+3 81+,E&+d K)4%+%+ H$f&H$* &H$(&,$%Fn +01+ &,1+,0&1$1+$ H$f&H$*F $ )4%+%&&N >$%+ =.$1+ +f&01$ B, ,$14%F &, &H$(&,$E&$ =$>&+,14*4&N I& ,4 >+$ %+0&HE&1F 0$4 >%+$1F )+ . $,4H&1F =%.>+)4%Fq
"YY
-
g7Pd OF%F )4%+%+N )4%+%+ H&,&HFN )4%+%+ H+)&+N )4%+%+ =41+%,&>FN )4%+%+ &,04=.%1$D&*F Q0>.% "'ZR ‚aƒ3
J&(4%$ "3 P>$*$ $,$*.( @&G4$*F I& 0>$*$ ,4H+%&>F3 :,O.%H$%+$ =$>&+,14*4& %+O+%&1.$%+ *$ )4%+%+ I& H.)$*&1FE&*+ +& 1+%$=+41&>+N =+%H&1+ %+)4>+%+$ ,&@+*4*4& )+ $,f&+1$1+ I& )&H&,4$%+$ >.,04H4*4& )+ $,$*(+G&>+3 9$>&+,14* 1%+D4&+ B,@FE$1 0F >.H4,&>+ )4%+%+$ >]&$% )$>F $%+ &,1+,0&1$1+ H&>FN >.,1%&D4&,) B, $>+01 O+* *$ 4, H$,$(+H+,1 >.%+>1 $* 0&,)%.H4*4& $*(&> ‚\ƒ3 2]+01&.,$%+*+ H4*1&)&H+,0&.,$*+N 4,+*+ >.,>+=41+ =+,1%4 $,4H&1+ $O+>E&4,& Q)4%+%+$ ,+.=*$G&>FN )4%+%+$ ,+4%.=$1FN )4%+%+$ @$0>4*$%FR =.1 HF04%$ &,1+,0&1$1+$ )4%+%&&N =%+>4H I& >.H=.,+,1$ >.H=.%1$H+,1$*F I& $O+>1&@F ‚Xƒ3 2+*+ H$& >4,.0>41+ >]+01&.,$%+ 04,1 ##9: Q#&,,+0.1$ #4*1&=]}0&> 9+%0.,$*&1} :,@+,1.%}RN #9† Q#>L&** 9$&, †4+01&.,$&%+RN O.%H$ *F%(&1F 0$4 =%+0>4%1$1F QH&,& #9†RN x&0>.,0&, `%&+O 9$&, †4+01&.,$&%+ Q`9†R3 C, H.,&1.%&G$%+$ )4%+%&& 0+ @$ $=%+>&$ +@.*4E&$ 0$ 1+H=.%$*FN *.>4* $=$%&E&+&N &%$)&+%+$N 1.*+%$,E$N $=$%&E&$ 4,+& )4%+%& 04=%$$)F4($1+3 6@$*4$%+$ 0+ O$>+ B,1%'4, 0+%@&>&4 H+)&>$*3 N'"*&*>Y* W> G*&A*G*&*/ +@&*&'' W> "@>AY'* +* Ip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f4*4& ,.>&>+=1&@ >4 =+%0&01+,E$ &,O*$H$E&+& I& 1+,)&,E$ +@.*41&@F 0=%+ >.,01&14&%+$ *+G&4,&*.% 1%.O&>+N >4 %+)4>+%+$ >$=$>&1FE&& O4,>[&.,$*+ 0$4 >]&$% *$ >.H=%.H&1+%+$ &,1+(%&1FE&& H+HD%4*4& $O+>1$1 ‚"Yƒ3 4>/C(*Q'/ &*G&*Q'>?F ) G&')&'?/?* W> H/>/(*H*>?@C G/A'*>?@C@' A@ K)/CF G*&'"*&'AF# 601+ 4, 1%$1$H+,1 >.H=*+fN $* >F%4& .D&+>1&@ =%&,>&=$* +01+ $H+*&.%$%+$ >$*&1FE&& @&+E&& =$>&+,14*4&N =%&, %+H&0&$ 0$4 )&H&,4$%+$ 0&,)%.H4*4& $*(&> Q>*$4)&>$E&$ 0$4 )4%+%+$ B, %+=$40R I& =%+G+%@$%+$ @&$D&*&1FE&& H+HD%4*4& $O+>1$13 9%.1.>.*4* 1+%$=+41&> =.$1+ @$%&$ )+ *$ 1%$1$H+,1 >.,0+%@$1.% *$ =%.>+)++ )+ %+@$0>4*$%&G$%+ 0$4 &,1+%@+,E&& ]&=+%+H&$,1+ Q0&H=$1+>1.H&$ *.HD$%FRN O4,>E&+ )+ O.%H$ >*&,&>F I& 01$)&4* +@.*41&@ ‚""ƒ3 5&/?/H*>?@C "/&H/A)C)('A# #$k.%&1$1+$ *+G&4,&*.% &0>]+H&>+ ,+>+0&1F =%+0>%&+%+$ )+ $,$*(+1&>+N $)+0+$ 0&H=1.H$1.*.(&$ $*(&>F O&&,) 0+@+%F3 5%$1$H+,14* $,1$*(&> @$ O& &,)&@&)4$*&G$13 601+ ,+>+0$%F H.,&1.%&G$%+$ =+%H$,+,1F I& H.)4*$%+$ 1+%$=+41&>F B, O4,>E&+ )+ +@.*4E&$ >*&,&>FN @A%01$ =$>&+,14*4&N 1&=4*N &,1+,0&1$1+$ I& )+D414* )4%+%&&N =%+>4H I& )+
"Y"
O+,.H+,+*+ $0.>&$1+3 / $1+,E&+ )+.0+D&1F 1%+D4&+ $>.%)$1F $D0.%DE&+&N )&01%&D4E&+&N H+1$D.*&GF%&& I& +*&H&,F%&& H+)&>$H+,14*4& )&, .%($,&0H3 P+ @.% +@&1$ =.*&=%$(H$G&$ I& &,>.H=$1&D&*&1$1+$ 0.*4E&&*.% H+)&>$H+,1.$0+3 /D&+>1&@4* 1+%$=+41&> >.,01F B, %+$*&G$%+$ 4,4& =*$1.4 =+,1%4 $ +@&1$ +f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l5S I& >+*.% =+,1%4 9L 6?3 9.$1+ O& =%+O+%$1 .=&.&)4*4& )$1.%&1F $D0+,E+& 1.f&>&1FE&&3 ;+D414* +O+>14*4& +01+ *$ . .%F =.01$)H&,&01%$%+N >4 +O+>1 H$f&H$* B, b .%+3 C, $0.>&+%+ >4 8:TP 0$4 $,$*(+G&>+ .=&.&)+ $%+ +O+>1 $)&1&@3 9%&, $>E&4,+$ *$ ,&@+*4* ]&=.1$*$H404*4& >4 @$0.)&*$1$E&+ =+%&O+%&>F $%+ +O+>1 $,1&1+%H&>3 9$%$>+1$H.*4* ,4 =%+G&,1F ,&>&. &,O*4+,EF $04=%$ )4%+%&& )&,$H&>+ Q*$ H&I>$%+R3 2.H=$%$1&@ >4 8:TPN ,4 &,1+%O+%+$GF O4,>E&$ =*$>]+1$%F I& ,4 )+1+%H&,F O+,.H+,+ )+ &%&1$E&+ ($01%&>F3 P+ %+>.H$,)F =%4)+,EF *$ >.,04H$1.%&& >%.,&>& )+ +1$,.* 0$4 *$ =$>&+,E&& >4 0&,)%.H )+ %+1+,E&+ $G.1$1F3 ;.G$ 1+%$=+41&>F *$ $)4*1 +01+ )+ b ( =+ ?b .%+N &$% >+$ 1.f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r0$4 ]+=$1&>F +01+ ,+>+0$%F %+)4>+%+$ ).G+*.% I& H.,&1.%&G$%+$ B, )&,$H&>F ‚"?ƒ3 / O.%HF H.)+%,F )+ $)H&,&01%$%+ $ .=&.&)+*.% +01+ =$1&+,1'>.,1%.**+) $,$*(+0&$ Q928Rd =$>&+,14* BI& $41.$)H&,&01%+$GF ).G$ )+ $,$*(+1&>N =%&,1%'4, )&0=.G&1&@ $41.H$1N OF%F $ O& =.0&D&*F )+=FI&%+$ ).G+& H$f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y" I& 2/y?3 #$k.%&1$1+$ 04,1 H+1$D.*&G$1+ ]+=$1&> I& +*&H&,$1+ =+ >$*+ %+,$*FN )+ $>++$ 0+ %+>.H$,)F =%4)+,EF *$ =$>&+,E&& >4 D.$*$ %+,$*F >%.,&>F3 9%&,>&=$*+*+ %+$>E&& $)@+%0+ 04,1 >+*+ ($01%.'&,1+01&,$*+N 14*D4%F%&*+ )+ >.$(4*$%+ =%&, &,]&D$%+$ =*$>]+1$%F I& $>>+,14$%+$ O+,.H+,+*.% $*+%(&>+ *$ =$>&+,E&& >4 1+%+, $1.=&>3
"Y?
6*?/H'Q)C@C =%+G&,1F . )&O4G&+ %$=&)F B, E+0414%&N O&&,) 4, $,$*(+G&> *$%( 41&*&G$13 2+*+ H$& &H=.%1$,1+ +O+>1+ $)@+%0+ 04,1 >+*+ ]+H$1.*.(&>+d $(%$,4*.>&1.G$N *+4>.=+,&$N $,+H&$ ]+H.*&1&>FN 1%.HD.>&1.=+,&$3 5&/H/+)C@C +01+ 41&*&G$1 B, >.,1%.*4* 1+%$=+41&> $* )4%+%&*.% $>41+ 0$4 >%.,&>+ )+ &,1+,0&1$1+ H+)&+N =%+G+,1A,) 4, H+>$,&0H )4D*4 )+ $>E&4,+ Q$(.,&01 $* %+>+=1.%&*.% .=&.&G&N &,]&D&1.% $* %+>$=1F%&& H.,.$H&,+*.% *$ ,&@+*4* PT2R3 601+ 4, $,$*(+G&> >+,1%$*N >4 $>E&4,+ =%+=.,)+%+,1 H.,.$H&,+%(&>FN )$% =%+G&,1F I& +O+>1 .=&.&)+%(&>3 -$ =$>&+,E&& >4 ]&=.=+%O4G&+ %+,$*F 0$4 &,04O&>&+,EF ]+=$1&>F +01+ ,+>+0$%F $k401$%+$ ).G+*.%3 601+ +f1%+H )+ 41&* *$ =$>&+,E&& $*+%(&>& *$ 8:TP3 T4 )+=%&HF >+,1%4* %+0=&%$1.%3 <1&*&G$%+$ 0$ +01+ %+01%A,0F )$1.%&1F O+,.H+,+*.% )&(+01&@+ =+ >$%+ *+ )+G@.*1F Q(%+E4%&N @F%0F14%&N @+%1&kR3 8%+ $>E&4,+ 0&,+%(&>F >4 =$%$>+1$H.*4* I& 8:TP3 ;+.$%+>+ 5%$H$).*4* =.$1+ >%+I1+ %&0>4* )+ $=$%&E&+ $* >.,@4*0&&*.%N 41&*&G$%+$ 0$ *$ =$>&+,E&& +=&*+=1&>& I& *$ >+& >$%+ 0+ $O*F 04D 1%$1$H+,1 >4 $,1&)+=%+0&@+ 1%&>&>*&>+ 0$4 :#8/ +01+ >.,1%$&,)&>$1F3 %/K/G*>?'>)'Q'' Q($D$=+,1&,N =%+($D$*&,R $>E&.,+$GF =%&, %+)4>+%+$ ]&=+%+f>&1$D&*&1FE&& *$ ,&@+*4* 0&01+H4*4& ,+%@.0 >+,1%$* =%&, $>E&4,+ $04=%$ 04D4,&1FE&& z?p $ >$,$*+*.% )+ >$*>&4 @.*1$k')+=+,)+,1+N &,]&DA,)4'0+ $01O+* +*&D+%$%+$ )+ ,+4%.H+)&$1.%& +f>&1$1.%&3 -$ ,&@+*4* >.%,4*4& =.01+%&.% $* HF)4@+& 0=&,F%&& ($D$=+,1&,.&G&& %+)4> $H=*&14)&,+$ >.H=*+f+*.% =.010&,$=1&>+N $@A,) >$ I& >.%+0=.,)+,1 >*&,&> $*.)&,&$3 84 +O+>1+ $)@+%0+ H&,&H+ 0$4 H.)+%$1+N >+*+ H$& O%+>@+,1+ O&&,)d 0.H,.*+,EFN @+%1&kN 14*D4%F%& )+ @+)+%+N )+O&>&1 )+ $1+,E&+ 0$4 >.,>+,1%$%+N f+%.01.H&+3 9%+($D$*&,4* ,4 )+G@.*1F O+,.H+,+ )+ $41.&,)4>E&+ +,G&H$1&>FN ,+=%+G+,1A,) H+1$D.*&G$%+ B, >.%=4* 4H$,N +*&H&,A,)4'0+ )+>& %+,$* ,+1%$,0O.%H$13 2&%>4&14* 0+%.1.,&,+%(&> %+=%+G&,1F 4, $*1 H+>$,&0H )+ $>E&4,+3 8>1&@$%+$ %+>+=1.%&*.% =+,1%4 Z'l5 )+1+%H&,F )+0>]&)+%+$ >$,$*+*.% )+ >$*>&4 @.*1$k')+=+,)+,1+N ($D$=+,1&,4* &,]&DA,) B, $>+01 O+* +*&D+%$%+$ )+ ,+4%.H+)&$1.%& +f>&1$1.%& ‚"Sƒ3 L$D$=+,1&,4* I& =%+($D$*&,4* $4 +O+>1 $,f&.*&1&> ‚"bƒ3 ;+I& )+,4H&%+$ $>+$01+& >*$0+ 1+%$=+41&>+ 41&*&G+$GF I& >$%$>1+%+*+ K($D$'nN +01+ &H=.%1$,1 )+ %+E&,41 >F $>+01+ H+)&>$H+,1+ ,4 $>E&.,+$GF =%&, H.)4*$%+$ L8`8'+%(&>F3 ;+.$%+>+ ($D$=+,1&,.&G&& ,4 0+ >4=*+$GF >4 =%.1+&,+*+ =*$0H$1&>+N )+>& ,4 H.D&*&G+$GF $*1+ H.*+>4*+N 0+ =.1 $)H&,&01%$ *$ =$>&+,E& >4 1%$1$H+,1 $,1&>.$(4*$,1 .%$* 0$4 $,1&>.,@4*0&@$,1N >4 H&,&H4H )+ %+$>E&& $)@+%0+3 N@&*&*/ A&)>'AF ;4%+%+$ >%.,&>F +01+ . =$1.*.(&+ &,04O&>&+,1 )&$(,.01&>$1F I& 1%$1$1FN %+=%+G+,1A,) . +,1&1$1+ KD&.'=0&].0.>&$*Fn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f&+1$1+N 14*D4%F%& >.H=.%1$H+,1$*+N )+O&>&1 ,+4%.*.(&>N 0+>]+*+ O4,>E&.,$*+ H40>4*.0>]+*+1$*+R +01+ ,+>+0$%F . +@$*4$%+ &,1+%)&0>&=*&,$%F Q=0&].*.(N =0&]&$1%4N .%1.=+)N %+4H$1.*.(N ,+4%.>]&%4%(R3 C, $01O+* )+ >$G4%& +01+ D+,+O&>F $,$*(+G&$ H4*1&H.)$*F Q&,1%$@+,.$0F I& *.>.%+(&.,$*FR3
"YS
/ 0+%&+ )+ 014)&& >*&,&>+ %$,).H&G$1+ $4 )+H.,01%$1 >F $=%.f&H$1&@ k4HF1$1+ )&, =$>&+,E& =%+G&,1F . $H+*&.%$%+ $ 0&H=1.H$1.*.(&+& $*(&>+ )4=F &,&E&+%+$ 1%$1$H+,14*4& $,1$*(&>N $>+$01F $H+*&.%$%+ O&&,)N O%+>@+,1N 1%$,G&1.%&+ ‚"Zƒ3 J$>1.%& >$%+ &,O*4+,E+$GF 0+,0&D&*&1$1+$ )4%+%.$0F >%.,&>F )&, &0>]+H&$ =+%&O+%&>F 04,1d O$>1.%& O&G&.*.(&>&d @A%01FN %&1H4* >&%>$)&$,N 0+f4*N =+%&.$)$ H+,01%4$*F – 70*8)2d 4,+*+ 014)&& >*&,&>+ %+*+@F >F =%.>+04* )+ BHDF1%A,&%+ 0+ $0.>&$GF >4 )&H&,4$%+$ =%$(4*4& )4%+%.0 ‚"_ƒ – 8(<+&d O+H+&*+ =%+G&,1F 4, =%$( *$ )4%+%+ H$& )&H&,4$1 >.H=$%$1&@ >4 DF%D$E&&N =%.D$D&* =%&, H+>$,&0H+*+ )+ $>E&4,+ ].%H.,$*F ‚"aƒ O$>1.%& =0&].*.(&>&d $,f&+1$1+$N )+=%+0&$N @4*,+%$D&*&1$1+$N 01%+04*N 1&=4* )+ =+%0.,$*&1$1+N H+H.%&$ )4%+%.$0FN &H=.%1$,E$ 04(+01&+&N O.>$*&G$%+$ $1+,E&+& =+ 01&H4*4* $*(.(+, – )+=%+0&$ I& $,f&+1$1+$ %+)4> =%$(4* )4%+%.0 $>>+,14A,) $01O+* 0&H=1.H+*+ $*(&>+ – ,.>&>+=E&$ I& 01%+04* &,O*4+,E+$GF )&O+%&1 $f4* ]&=.1$*$H.']&=.O&G$%N %+G4*1A,) )&O+%+,E+ 0+H,&O&>$1&@+ $*+ =+%>+=E&+& )4%+%.$0+ O$>1.%& +f1+%,&d $*>..*&0H4*N 1$D$(&0H4*N )%.(.)+=+,)+,E$ O$>1.%& (+,+1&>&d +f&01F )&O+%+,E+ +1,&>+ =%&@&,) %F0=4,04* 1+%$=+41&> ‚"\ƒ $*E& O$>1.%&d +f$>+%DF%&*+ %+=+1&1&@+ $*+ )4%+%&& &,>&=&+,1+N )4%+%&*+ H$f&H$*+ &,&E&$*+N >.,04H4* >%.,&> )+ .=&.&)+3 T)/&?* 'HG)&?/>?V A)>")&H C*('' > qnRlrrf k' A)+@C@' +* +*)>?)C)('* H*+'A/CFV H*+'A@C *.?* )KC'(/? .F )KY'>F A)>.'HYFHp>?@C '>")&H/? /C G/A'*>?@C@' ./@ /C &*G&*Q*>?/>?@C@' .F@ C*(/C# :,O.%H$E&$ 1%+D4&+ O4%,&G$1F *$ 4, ,&@+* I1&&,E&O&> $)$=1$1 (%$)4*4& )+ &,01%4&%+ $* =$>&+,14*4&3 -$ =$>&+,E&& >4 &0>]+H&+ =+%&O+%&>F I& )4%+%+ >%.,&>FN D&*$,E4* *+G&.,$* @$ >4=%&,)+ •
•
• • •
+@$*4$%+$ $O+>E&4,&& )+ D$GFN )$% I& +@$*4$%+$ $0.>&$1+N =%+>4H I& &H=$>14* 0.>&.'O$H&*&$*3 601+ .D*&($1.%&+ 01$D&*&%+$ 4,+& >.H.%D&)&1FE&*.% 01%$1+(&& 1+%$=+41&>+ =+,1%4 $ '"1'7'1+2&'42)(N .DE&,+ 4, >.,1%.* $,$*(+1&> $)+>@$1 Q,&@+* )+ +@&)+,EF 2R ‚"Xƒ3 6@$*4$%+$ )4%+%&& *$ =$>&+,E&& @A%01,&>& +01+ )&O&>&*F )$1.%&1F 14*D4%F%&*.% )+ 0+,0&D&*&1$1+N O+,.H+,+*.% )+ $1+%.0>*+%.GF >+%+D%$*FN >.,O4G&+&N &$% 4,+.%& =%&, &H=.0&D&*&1$1+$ >.H4,&>F%&& Q01F%&*+ >.H$1.$0+R3 C, $>+01+ >$G4%& 0+ @.% H.,&1.%&G$ =$%$H+1%&& O&G&.*.(&>& Q1+,0&4,+$ $%1+%&$*FN O%+>@+,E$ >$%)&$>FN O%+>@+,E$ %+0=&%$1.%&+RN %F0=4,04* >.H=.%1$H+,1$* *$ )4%+%+ QO$>&+04*N H.D&*&G$%+$ H+HD%+*.%N $1&14)&,+$RN )$% I& )&,$H&>$ $>+01.% =$%$H+1%& 04D 1%$1$H+,1 $,1$*(&> Q,&@+* )+ +@&)+,EF `R3 8)H&,&01%$%+$ H+)&>$E&+& 0+ =.$1+ %+$*&G$ =+% .0N 1%$,0>41$,$1N 04D>41$,$1N &,1%$%+>1$*3 -$ =$>&+,14* >4 0&,)%.H )4%+%.0 >%.,&> +f&0F >A1+@$ 01%$1+(&& )+ 1%$1$H+,1 %+>4=+%$1.%d 1+%$=&$ O&G&>F QO&G&.1+%$=&+N j&,+1.1+%$=&+N 56TPRN 1+%$=&$ >.(,&1&@F QO.>$*&G$%+%+$ $1+,E&+& =+ . +f=+%&+,EF =.G&1&@F $,1+%&.$%FN 01&H4*$%+$ &H$(&,$E&+&R I& 1+%$=&$ >.H=.%1$H+,1$*F Q+f+%>&E&& )+ %+0=&%$E&+ =%.O4,)F >4 >.,>+,1%$%+$ $1+,E&+& =+ %&1H4* %+0=&%$E&+&N %+*$f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
"Yb
-
/ 1+%$=&+ $,$*(+1&>F $)+>@$1F &H=4,+ $0.>&+%+$ )+ 04D01$,E+ >.,O.%H ,.E&4,&& )+ $,$*(+G&+ H4*1&H.)$*F 24 $k41.%4* O$%H$>.>&,+1&>&& >*&,&>+ 0+ =.$1+ $=%+>&$ O++)D$>j'4* =$>&+,14*4& O$EF )+ $,$*(+G&$ $)H&,&01%$1F /D&+>1&@+*+ 1+%$=+41&>+ >.,01$4 B, $H+*&.%$%+$ >$*&1FE&& @&+E&& =$>&+,14*4& =%&, )&H&,4$%+$ 0&,)%.H4*4& $*(&>N =%+@+,&%+$ 0$4 1%$1$%+$ *+G&4,&*.% 1%.O&>+N =%+>4H I& H+,E&,+%+$ O4,>E&.,$*&1FE&& 0+(H+,14*4& $O+>1$1 601+ ,+>+0$%F )+G@.*1$%+$ 4,.% >+,1%+ )+ $*(+G&.*.(&+ >4 =$%1&>&=$%+ =*4%&)&0>&=*&,$%F ‚?Yƒ 601+ .D*&($1.%&+ &,)&@&)4$*&G$%+$ 1%$1$H+,14*4& 601+ ,+>+0$%F >%+I1+%+$ $>>+0&D&*&1FE&& =.=4*$E&+& *$ $0&01+,E$ =%&H$%F $ 01F%&& )+ 0F,F1$1+ $0&(4%$1+ =%&, 0+%@&>&&*+ )+ H+)&>&,F )+ O$H&*&+ ‚?"ƒ J$H&*&$ 1%+D4&+ 0F %+=%+G&,1+ 4, $*&$1 B, *4=1$ >4 04O+%&,E$ P+ %+>.H$,)F )&0=+,0$%&G$%+$ $>1&@F $ =$>&+,E&*.% @$0>4*.=$E&3
X'KC')(&/"'*^ "3 `$0D$4H 8N `40],+** #2N P>&+,>+ .O =$&,3 8H01+%)$HN T-d 6*0+@&+% ?YYX3 ?3 ;4%+%+$N @.*3 yy::: T%3 Sr?Y"SN "be"Z3 S3 5$%EF4 -N #4,(&4 /3 23N 8,$*(+G&>+ I& $,1&&,O*$H$1.$%+ ,+01+%.&)&+,+d (]&) =%$>1&>N :$I&N 6)&14%$ ;$,N ?YYa3 b3 6P2 (4&)+*&,+0 ., 1]+ )&$(,.0&0 $,) 1%+$1H+,1 .O =+%&=]+%$* $%1+%} )&0+$0+ e 64%.=+$, l+$%1 m.4%,$* Q?Y""R S?N ?\Z"e?XY_3 Z3 7$~$* T3 9.01.=+%$1&@+ =$&, $,) &10 H$,$(+H+,13 :, 7$~$* T3N +)3 #$,$(+H+,1 .O 8>41+ $,) 2]%.,&> 9$&,3 -.,).,d `#m `..j0N "X\X3 _3 c)%+]4I 2N L]&)4%& =+,1%4 0+)$%+ I& $,$*(+G&+ *$ =$>&+,14* >%&1&> B, 8>14$*&1FE& B, $,+01+G&+N 1+%$=&+ &,1+,0&@F I& H+)&>&,F )+ 4%(+,EFN 5&H&I.$%$N ?YY_3 a3 `+*B& 8N J&G&.*.(&$ ,.>&>+=E&+& I& H$,$(+H+,14* )4%+%&& =+%&.=+%$1.%&&3 \3 #+*G$>j 7N •$1G mN 9$&, H+$04%+H+,1 &, =+%0.,0 &, =$&,3 :, x$** 9;N #+*G$>j 7N +)03 5+f1D..j .O =$&,3 6)&,D4%(N P>.1*$,)d 2]4%>]&** -&@&,(01.,+N "XXbd SSaeZZ"3 X3 T.%(%+, -N l&$11 x7N ;.%H$,)} m8N T+]*+% #7N l$%%&0 •8N J.~j+0 JL73 :,1+%'P.>&+1} 2.,0+,040 O.% 1]+ #$,$(+H+,1 .O 9+%&=]+%$* 8%1+%&$* ;&0+$0+ Q58P2 ::R3 m g$0> P4%( ?YYaqbZdPZeP_a3 "Y3 #$%%+1 6 I& >.*N 6OO+>10 .O ,.,01+%.&)$* $,1&&,O*$H$1.%} )%4(0 ., =$1&+,1 >.,1%.**+) $,$*(+0&$ H.%=]&,+ 0&)+ +OO+>10d H+1$$,$*}0&0 .O %$,).H&0+) >.,1%.**+) 1%&$*03 8,+01]+0&.*.(} ?YYZq "Y?Q_Rd "?bXe"?_Y3 ""3 `$&)}$ ;3 •3N 8($%~$* 8N •]$,,$ 9N 8%.%$ #N 9%+($D$*&, &, $>41+ $,) >]%.,&> =$&,3 m 8,$+01]+0&.* 2*&, 9]$%H$>.*3 ?Y"" m4*'P+=q ?aQSRd SYaeS"b3 "?3 #.,1(.H+%} P8N 9%+($D$*&, O.% 1]+ 1%+$1H+,1 .O (+,+%$*&G+) $,f&+1} )&0.%)+%3 6f=+%1 .=&, 9]$%H$>.1]+%3 ?YY_q ad ?"SXe?"Zb3 "S3 P.HH+% 2N +)3N 9$&, &, 9+%&=]+%$* T+%@+ ;&0+$0+03 9$&, l+$)$>]+N @.* "S3 `$0+*N 2ld •$%(+%N ?YY"3 "b3 `%.~, PN •&%j=$1%&j #N P~$,0., #N #>•+,G&+ :N 9$&, 6f=+%&+,>+ .O 1]+ 6*)+%*}3 9$&, #$,$( T4%03 ?Y""q"?QbRd"XYe"X_3 "Z3 ]11=drr~~~3$%0)3%.r(]&)4%&3]1H*
"YZ
"_3 #+$).~0 5 +1 $**N 61],&> ;&OO+%+,>+0 &, 1]+ 9%+@$*+,>+ $,) 5%+$1H+,1 .O 2$%)&.@$0>4*$% 7&0j J$>1.%0 :,
"Y_
N12027;0 4XN367,4;0 209120,50 ;4 93<7; 8)%&$,$ 2.0H+0>4 ;&0>&=*&,$ )+ 9+)&$1%&+ <#J oL%&(.%+ 53 9.=$o :$^& N@&*&*/ C/ Ip&.?/ G*+'/?&'AF i %*>*&/C'?FY' 9%$>1&>N )4%+%+$ >.,01&14&+ 4,$ )&, =%&H+*+ +f=+%&+,E+ 0+,G&1&@+ $*+ .H4*4&N %+=%+G+,1A,) 4,4* )&, 0+H,+*+ >+*+ H$& =%+>.>+ $*+ D.*&&3 C, 4*1&H$ =+%&.$)F 0'$4 B,%+(&01%$1 =%.(%+0+ &H=.%1$,1+ &, )&$(,.01&>4* I& 1%$1$H+,14* )4%+%&& B, =+)&$1%&+3 -$ $>+$01$ @A%01FN =+%>+=E&$ )4%+%&& +01+ &,O*4+,E$1F )+ ,4H+%.I& O$>1.%&d )+ (%$)4* )+ B,E+*+(+%+ $* >.=&*4*4&N )+ >$4G$ )+>*$,I$1.$%+N )+ +f=+%&+,E+*+ $,1+%&.$%+N )+ O+,.H+,+*+ =0&]&>+ >+ 1%$)4> 04O+%&,E$ >.=&*4*4&N I3$3 C, >+ =%&@+I1+ @A%01$ >.=&*4*4&N 0+ =$%+ >F B,>+=A,) )&, 0F=1FHA,$ $ "Z'$ )+ (+01$E&+ 0+,G$E&&*+ 1$>1&*+ I& )4%+%.$0+ 04,1 =+%>+=41+ B, %+*++*+ 0+,G&1&@+ $*+ 1$*$H404*4&N %F0=4,04* ]&=.1$*$H&> *$ 01%+00 $=F%A,) )&, $ ?S'$ 0F=1FHA,F )+ 0$%>&,F3 T.4',F0>4E&& %+$>E&.,+$GF *$ )4%+%+ B,1%'. H$,&+%F (*.D$*F =%&, E&=F1N (%&H$0FN %+O*+f )+ %+1%$(+%+ )+.$%+>+ >F&*+ )+ >.,)4>+%+ $*+ )4%+%&& ,4 0+ H$14%+$GF 1.$1+ B, $>+*$I& 1&H=3 ;+ $D&$ )4=F S *4,& 04($%&& =%+G&,1F %+$>E&& 0=+>&O&>+ )+ =%.1+>E&+ O&&,) >$=$D&*& 0F *.>$*&G+G+ )4%+%+$3 2$ I& ,.4',F0>414*N 04($%4* BI& +f=%&HF )4%+%+$ =%&, E&=F1 I& H.)&O&>$%+$ +f=%+0&+& O$>&$*+ $>+01+$ O&&,) I& H.)$*&1FE&*+ )+ $=%+>&+%+ $ &,1+,0&1FE&& )4%+%&&3 9%+I>.*$%&& =.1 )$ 4,+*+ )+1$*&& )+0=%+ +f=+%&+,E$ )4%+%.$0F =+ >$%+ . $4N B, k4%4* @A%01+& )+ Z'_ $,& >.=&*4* O&&,) >$=$D&* 0F >.H=$%+ )4%+%+$;4=F $>14$*F >4 . )4%+%+$ +f=+%&+,EF $,1+%&.$%F3 )4%$1F =.$1+ O& >*$0&O&>$1F B, $>41FN >%.,&>F I& %+>4%+,1F3 ;4%+%+$ $>41F $%+ . )4%$1F *&H&1$1F Q>A1+@$ G&*+ >+* H$& O%+>@+,1RN )+D41 D&,+ )+O&,&1N +01+ $0.>&$1F >4 . $O+>E&4,+ &)+,1&O&>$1F I& 0>$)+ B, &,1+,0&1$1+ B, =$%$*+* >4 @&,)+>$%+$ D.*&&3 8>+01 1&= )+ )4%+%+ +01+ B,0.E&1F )+ $,f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f4*4& 3 C, O4,>E&+ )+ *.>$*&G$%+$ %+>+=1.%&*.% =+%&O+%&>&N )4%+%+$ ,.>&>+=1&@F 0+ >*$0&O&>F B, )4%+%+ >41$,$1FN 0.H$1&>F I& @&0>+%$*F3 ;4%+%+$ >41$,$1F $=$%+ =%&, *+G$%+$ =&+*&& 0$4 $ E+0414%&*.% 04=+%O&>&$*+N )4%+%+$ 0.H$1&>F BI& $%+ .%&(&,+$ B, H4I>]&N 1+,).$,+N .$0+N @$0+ 0$,(4&,+ &$% )4%+%+$ @&0>+%$*F B, .%($,+ 0$4 @&0>+%+3
"Ya
;4%+%+$ ,+4%.=$1F $=$%+ =%&, *+G$%+$ 0&01+H4*4& ,+%@.0 >+,1%$* Q)4%+%+ >+,1%$*FR 0$4 =+%&O+%&> Q)4%+%+ =+%&O+%&>FR3 ;4%+%+$ ,+4%.=$1F $%+ >$%$>1+% )+ B,E+=F14%FN $%04%F 0$4 k4,(]&3 7+O+%&1.% *$ +@$*4$%+$ )4%+%&& *$ >.=&*N .D&+>1&@+*+ 04,1d )+1+>1$%+$ )4%+%&& I& $ &,1+,0&1FE&& $>+01+&$N $=%+>&+%+$ &H=$>14*4& )4%+%&& $04=%$ =$>&+,14*4& I& >4$1&O&>$%+$ +O&>&+,E+& 1+%$=+41&>+3 6@$*4$%+$ >.%+>1F $ )4%+%&& *$ >.=&* =+%H&1+ &,01&14&%+$ 4,4& 1%$1$H+,1 $)+>@$1 >$%+ 1%+D4&+ 0F &,>*4)F I& . H.,&1.%&G$%+ %+(4*$1F $ )4%+%&& >.=&*4*4& D.*,$@3 N@&*&'C* /K+)H'>/C* &*A@&*>?* C/ A)G'C BN42E N*"'>'Y'*d )4%+%+$ $D).H&,$*F %+>4%+,1F >.,01F B, $=$%&E&$ $ >+* =4E&, S +=&0.$)+ )4%+%.$0+ B,1%'4, &,1+%@$* )+ S *4,&N +=&0.$)+*+ )4%+%.$0+ $*1+%,A,) >4 =+%&.$)+ $0&H=1.H$1&>+3 <, $*1 +*+H+,1 )+O&,&1.%&4 +01+ &,1+,0&1$1+$ )4%+%&&N $>+$01F )4%+%+ O&&,) 04O&>&+,1 )+ &,1+,0F B,>A1 0F $O+>1+G+ $>1&@&1$1+$ ,.%H$*F $ >.=&*4*4&3 7+=%+G&,1F 4,4* )&, >+*+ H$& O%+>@+,1+ 0&H=1.H+ B,1A*,&1+ B, =$1.*.(&$ =+)&$1%&>FN *$ 1.$1+ @A%01+*+N O&&,) 4,4* )&, H.1&@+*+ >+* H$& )+0 &,@.>$1+ )+ =%+G+,1$%+ $ >.=&*4*4& *$ H+)&>3 g$%&+1$1+$ $O+>E&4,&*.% )&(+01&@+ I& +f1%$)&(+01&@+ >+ 0+ H$,&O+01F >4 )4%+%& $D).H&,$*+ )+1+%H&,F =%.D*+H+ )&O&>&*+ )+ )&$(,.01&>3 P+ +01&H+$GF >F "Y e "Z { )&,1%+ >.=&&& I>.*$%& =%+G&,1F )4%+%& $D).H&,$*+ %+>4%+,1+N )&,1%+ >$%+ ).$% "Y{ )&, >$G4%& $4 >$4G+ .%($,&>+ )+1+>1$D&*+3 ;4%+%&*+ $D).H&,$*+ %+>4%+,1+ =.1 O& .%($,&>+ 0$4 O4,>E&.,$*+N )&O+%+,E&+%+$ *.% >.,01&14&,) . =&$1%F )+ B,>+%>$%+ =+,1%4 H+)&>4* =+)&$1%43 #+>$,&0H+ )+ =%.)4>+%+ $ )4%+%&& $D).H&,$*+d "3 $O+>1$%+$ >&%>4*$E&+& 0$,(4&,+ B, >$G )+ &,@$(&,$E&+ &,1+01&,$*FN 1%.HD.G+N ]+%,&+ !
!
?3 S3 b3 Z3 _3
01%$,(4*$1F I3$3 >+ )+1+%H&,F *+G&4,& &0>]+H&> ' ]&=.f&>+ I& $>4H4*$%+ )+ H+1$D.*&E& $>&G& >.H=%+0&$ I& )+=*$0$%+$ 4,.% .%($,+ $D).H&,$*+ 1%$>E&4,+$ =+ H+G.4%& >.,1%$>E&$ H40>4*$%F &,1+,0F 0$4 =%+*4,(&1F B, >$G )+ >.*&>F %+,$*FN >.*&>F D&*&$%FN 4*>+% )&01+,0&$ >$=04*+*.% .%($,+*.% =$%+,>]&H$1.$0+ Q0=*&,FN O&>$1R 0$4 $ =+%+E&*.% .%($,+*.% >$@&1$%+ *+G&4,& &,O*$H$1.%&& $*+ 4,.% E+0414%&N .%($,+N =+%&1.,+43
N'/(>).?'A@C +@&*&'C)& /K+)H'>/C* &*A@&*>?* ;&$(,.01&>4* +1&.*.(&> $* )4%+%&*.% $D).H&,$*+ %+>&)&@$,1+ *$ >.=&* $,$H,+GF %&(4%.$0FN 4, +f$H+, >*&,&> $HF,4,E&1 I& >.,O&%H$%+ =$%$>*&,&>F3
,+>+0&1F .
4>/H>*Q/ @$ $@+$ B, @+)+%+ >F B, >$G4* >.=&&*.% H&>& >$ $,$H,+G$ &$ )+ *$ 0&H=1.H+*+3 $=$%E&,F1.%& Q=F%&,E&NP+D4,&>& 0$4 $*1+ =+%0.$,+R +f&01A,) =.0&D&*&1$1+$ $>+I1&$ 0F0++f$(+%+G+ 9+ )+ $*1F =$%1+N >.=&*4* H$%+ 1%+D4&+ *F0$1 0F'I& +f=4,F 0&,(4% $>4G+*+ OF%F $ & 0+ 04(+%$ 4,+*+ %F0=4,04%&3 P+ @.% =%+>&G$ d $R 0+)&4* )4%+%&&d )&O4GF 0$4 >4 0+)&4 @$%&$D&* Q*$ >.=&*4* H&>R 0$4 *.>$*&G$1F QH$& O%+>@+,1 =+%&.HD&*&>$* 0$4 B, +=&($01%4R
"Y\
DR &%$)&+%+$ )4%+%&& d )&O+%F B, O4,>E&+ )+ .%($,4* D.*,$@ Q0=%+ +f+H=*4 B, >.*&>$ %+,$*F )4%+%+$ &%$)&$GF B, %+(&4,+$ &,(]&,$*F I& .%($,+*+ (+,&1$*+R >R @A%01$ )+ )+D41 $ )4%+%&& I& O%+>@+,E$ +=&0.$)+*.% )4%+%.$0+ )R )4%$1$ I& &,1+,0&1$1+$ )4%+%&&d )4%+%+ )+ 0>4%1F )4%$1F I& &,1+,0&1$1+ H+)&+N )4%+%& =+%0&01+,1+ >4 0$4 OF%F =$%.f&0H+ +R >$%$>1+%4* d )+ $%04%FN )4%+%& )+ )&01+,0&+ N )4%+%& >.*&>$1&@+ 0$4 )4%+%& >4 >$%$>1+% =+,+1%$,1 OR >&%>4H01$,E+*+ )+ $=$%&E&+ d G&4$ 0$4 ,.$=1+$N *+($1 )+ $*&H+,1$E&+N )4=F 4, +O.%1 QO&G&>N =0&]&>N )+ )+O+>$E&+R 0$4 0=.,1$,+ (R 0&H=1.H+ $0.>&$1+d (+,+%$*+d O+D%FN =$*.$%+N $01+,&+N $)&,$H&+N 0>F)+%+ B, (%+41$1+ )&(+01&@+d (%+$EFN @F%0F14%&N $,.%+f&+N H+1+.%&0HN )&$%++ 0$4 >.,01&=$E&+N ]+H.%$(&& &,1+01&,$*+N H$0+ $D).H&,$*+ =$*=$D&*+N .)&,.O$(&+ 4%&,$%+d )&04%&+N =.*$j&4%&+N ]+H$14%&+N +,4%+G&0 ,+4%.*.(&>+ d >+O$*++N 14*D4%F%& @&G4$*+N 14*D4%F%& )+ +>]&*&D%4N 14*D4%F%& $*+ >.,I1&+,E+&N 0+H,+ >*&,&>+ )+ ]&=+%1+,0&4,+ &,1%$>%$,&$,FN >%&G+ +=&*+=1&>+ ]R )$1+ 0.>&$*+ d )+0=%+ >.*+>1&@&1$1+$ O%+>@+,1F Q>.,O*&>1+ I>.*$%+R I& )+0=%+ H+)&4* O$H&*&$* $* >.=&*4*4& Q>$%+,E+ $O+>1&@+N )&@.%E4* =F%&,E&*.%N )+>+04* 4,+& =+%0.$,+ $=%.=&$1+R &R $,1+>+)+,1+ =+%0.,$*+d >.*&>& $D).H&,$*+ B, =+%&.$)$ )+ 04($%N $*1+ 14*D4%F%& )+ 1&= =0&].0.H$1&> kR $,1+>+)+,1+ ]+%+).>.*$1+%$*+d $>+*+$I& 0&H=1.H+ $*+ =F%&,E&*.% B, >.=&*F%&+N 1+%+, H&(%+,.0 • •
• •
0U/H*>@C AC'>'A >4=%&,)+d $=%+>&+%+$ 01F%&& (+,+%$*+N $ &,)&>&*.% 0.H$1.H+1%&>&N >.H=.%1$H+,14* >.=&*4*4& Q=.G&E&+ $,1$*(&>FN (]+H4&1FRN $0=+>14* 1+(4H+,1+*.% Q=$*&)+N >&$,.1&>+N O$>&+0 @4*14.0N 1%$,0=&%$1RN +f$H+,4* $1+,1 $* 1414%.% $=$%$1+*.% 0& 0&01+H+*.%3 6f$H+,4* $D).H+,4*4&d !:,0=+>1&$ @&G+$GFd )&H+,0&4,&*+ $D).H+,4*4& Q,.%H$*N +f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f+H=*43 !80>4*1$1&$ d $D0+,E$ >.H=*+1F $ G(.H.1+*.% &,1+01&,$*+ $=$%+ B, &*+40 =$%$*&1&> I& =+%&1.,&1$ 0+@+%F &$% $>>+,14$%+$ G(.H.1+*.% >4 &,1+,0&O&>$%+$ )4%+%&& B, .>*4G&$ &,1+01&,$*F3 0U/H*>*C* G/&/AC'>'A* 04,1 ,+>+0$%+ )&$(,.01&>4*4& =.G&1&@ I& )&O+%+,1&$*3 P+ @$ &,>+=+ >4 +f$H+,+*+ =$%$>*&,&>+ )+ %41&,F >.H=*+1$1+ )+ *$ >$G *$ >$G >4 $*1+ &,@+01&($E&& H$& >.H=*+f+3 ;&,1%+ $,$*&G+*+ )+ %41&,F H+,E&.,FHd ]+H.*+4>.(%$H$N gPlN 5L/N 5L9N (*&>+H&+N $H&*$G+H&+N 4%++N >%+$1&,&,FN >$*>+H&+N +f$H+, )+ 4%&,FN +f$H+, >.=%.=$%$G&1.*.(&>N >.=%.>4*14%FN ]+H.%$(&& .>4*1+ B, 0>$4,N +>.(%$O&+ $D).H&,$*F3 6f$H+,+*+ =.1 O& >.H=*+1$1+ >4 d 7f ($01%.')4.)+,$*FN &%&(.(%$O&+N 7f 1.%$>&>FN +,).0>.=&+
"YX
)&(+01&@F 04=+%&.$%FN >.*.,.0>.=&+N =l'H+1%&+ +0.O$(&$,FN +f$H+, =0&].*.(&> &$% *$ ,+@.&+ 25N 7#TN 66L3 9&'?*&'' +* +'"*&*>Y'*&* B,1%+ )4%+%+$ )+ >$4GF .%($,&>F I& >+$ O4,>E&.,$*F Q)4=F #$, I& T$,4*+0>4Rd "3 gA%01$ )+ $=$%&E&+d )4%+%+$ )+ >$4GF .%($,&>F *$ .%&>+ @A%01FN >+$ O4,>E&.,$*F B,1%+ Z' "? $,& ?3 8,1+>+)+,1+ ]+%+).>.*$1+%$*+d 4*>+% ($01%.)4.)+,$* =+,1%4 )4%+%+$ )+ >$4GF .%($,&>F I& >.*., &%&1$D&*N 14*D4%F%& =0&].0.H$1&>+ =+,1%4 )4%+%+$ O4,>E&.,$*F S3 8,1+>+)+,1+ =+%0.,$*+d >.*&>& B, =+%&.$)$ )+ 04($% =+,1%4 )4%+%+$ O4,>E&.,$*F b3 2$%$>1+%+*+ )4%+%&&d )4%+%+$ .%($,&>F +01+ 01%&>1 *.>$*&G$1FN 04D O.%HF )+ >.*&>F 0$4 >%$H=FN >4 &,1+,0&1$1+ >%+0>A,)FN >4 &%$)&+%+N $=$%+ =.01=%$,)&$* 0$4 1%+G+I1+ D.*,$@4* )&, 0.H,3 ;4%+%+$ O4,>E&.,$*F +01+ =+%&.HD&*&>$*F 0$4 ]&=.($01%&>FN >$%$>1+% @$(N 04%(N ,4 &%$)&$GFN ,4 0+ H$,&O+01F ,&>&.)$1F ,.$=1+$N )4%$1F @$%&$D&*FN &,1+%H&1+,1F3 Z3 P&H=1.H+ $0.>&$1+ )&(+01&@+d )4%+%+$ .%($,&>F 0+ $0.>&$GF >4 )&0O$(&+N .)&,.O$(&+N @F%0F14%&N 4*>+%$E&& D4>$*+N ]+H.%$(&+ )&(+01&@FN &>1+%N ]+=$1.H+($*&+ &$% )4%+%+$ O4,>E&.,$*F >4 (%+E4%&N $*1+%,$,EF )&$%++'>.,01&=$E&+N O*$14*+,EF3 _3 #$,&O+01F%& $0.>&$1+ +f1%$)&(+01&@+d B, >$G )+ )4%+%+ .%($,&>F >4 $,.%+f&+N O+D%FN +%4=E&& %+>4%+,1+N O$*&H+,14* >%+I1+%&&3 ;4%+%+$ O4,>E&.,$*F 0+ =.$1+ $0.>&$ >4 $H+E+*&N >+O$*++N 14*D4%F%& +H.E&.,$*+N 14*D4%F%& )+ 0.H,N =%.D*+H+ I>.*$%+N =$*.$%+N 1%$,0=&%$E&&3 9C/.'"'A/&* 7#
N@&*&' /K+)H'>/C* &*A@&*>?* )&(/>'A* 4# 9/@Q* +'(*.?'I* 83"3 `.$*$ )+ %+O*4f ($01%.'+0.O$(&$, >4 )4%+%+ +=&($01%&>F 0$4 %+1%.01+%,$*F $=F%41F )4=F H$0FN )4%+%+ (+,+%$1F )+ +0.O$(&1$ )+ %+O*4f3 83?3 `.$*$ =+=1&>F Q4*>+% ($01%&> 0$4 )4.)+,$*R >$%$>1+%&G$1F =%&, +=&($01%$*(&& &,1+,0+ $=F%41F *$ "'S .%+ )4=F H$0FN >$*H$1+ )+ $*&H+,1+ 0$4 $,1&4*>+%.$0+N >4 $,1+>+)+,1+ ]+%+).>.*$1+%$*+ =.G&1&@+ )+ 4*>+% ($01%.)4.)+,$*3 83S3 8O+>E&4,& ]+=$1.'D&*&$%+d *&1&$G$ D&*&$%F Q>4 )4%+%+ &, ]&=.>.,)%4* )%+=1 B,0.E&1F )+ (%+$EFN @F%0F14%&N =40++ &>1+%&>+RN >]&014* )+ >.*+).>N ]+=$1&1$ >%.,&>F3 83b3 8O+>E&4,& =$,>%+$1&>+d =$,>%+$1&1$ %+>4%+,1F Q)4%+%& +=&($01%&>+ I& B, ]&=.>.,)%4* 01A,( *$ Z'"Y H&,41+ )+ *$ )+D414* H+0+& >4 &%$)&+%+ B, 0=$1+RN =0+4).>]&014* )+ =$,>%+$0N O&D%.G$ >.,(+,&1$*F $ 0O&,>1+%4*4& /))& 3 83Z3 8O+>E&4,& $*+ &,1+01&,4*4&d &,O*$H$1.%&+ >%.,&>F &,1+01&,4*4& Q)4%+%+ B, >$)%$,4* &,O+%&.% )%+=1 H$& D.$*$ O%+>@+,1 >4 1+,+0H+N O+D%FN$ 0>F)+%+ =.,)+%$*FRN >.,01&=$E&$ >%.,&>FN =$%$G&1.G+ &,1+01&,$*+N &,1.*+%$,EF *$ *$>1.GF3 83_3 8O+>E&4,& =+%&1.,+$*+ I+ H+G+,1+%&>+d =+%&1.,&1+ >%.,&>+N 5`2 =+%&1.,+$*FN D%&)+ I& $)+%+,E+ =.01&,O*$H$1.%&& 0$4 =.01.=+%$1.%&&N >]&014* H+G+,1+%&>N I3$ 83a3 54H.%& $D).H&,$*+ D+,&(,+ Q)+ +f+H=*4N >]&014* ]&)$1&>R 0$4 H$*&(,+ Q14H.%& ]+=$1&>+N 14H.%& 0=*+,&>+R3
""Y
X# 9/@Q* (*>'?)i@&'>/&* `3"3 :,O+>E&& )+ 1%$>1 4%&,$% %+>&)&@$,1+ d 0&H=1.H+ 4%&,$%+ Q)&04%&+N =.*$j&4%&+N4%(+,EF *$ H&>E&4,+R I& =40++ O+D%&*+ $0.>&$1+ )4%+%&*.% $D).H&,$*+ %+>4%+,1+3 `3?3 <%.=$1&$ .D01%4>1&@F )+ >$4GF H$*O.%H$1&@F >4 ]&)%.,+O%.GF )+1+%H&,F )4%+%& %+>&)&@$,1+ *$ ,&@+*4* $D).H+,4*4& &,O+%&.% 0$4 B, O*$,>4%&3 `3S3 -&1&$G$ %+,.4%&,$%F )+1+%H&,F )4%+%+ >.*&>$1&@F B, O*$,>4%& >4 &%$)&+%+ &,(]&,$*F 3 `3b3 54H.%& %+,$*+ Q,+O%.D*$01.H4*R I& 5`2 %+,$*3 `3Z3 ;&0H+,.%++$ )+1+%H&,F )4%+%& >.*&>$1&@+ B, +1$k4* $D).H&,$* &,O+%&.% $0.>&$1+ 0$4 ,4 >4 )4%+%& *.HD$%+N (%+$EF I& @F%0F14%& >+ $=$% B,$&,1+ 0$4 B, 1&H=4* H+,01%4$E&+&3 `3_3 2]&014* )+ .@$%3 `3a3 l+H$1.>.*=.04* +01+ >$4G$1 )+ &H=+%O.%$E&$ ]&H+,4*4& )4>A,) *$ $>4H4*$%+$ 0A,(+*4& H+,01%4$* *$ ,&@+* 41+%&, q )4%+%&*+ $D).H&,$*+ $=$% *4,$%N B, =+%&.$)$ >&>*4*4& H+,01%4$*3 `3\3 6>1.=&$ 1+01&>4*$%F =.$1+ (+,+%$ )4%+%& $D).H&,$*+ >%.,&>+3 9# 9/@Q* H*?/K)C'A* 23"3 2+1.$>&).G$ )&$D+1&>F =%+G&,1F B, 1$D*.4* >*&,&> I& (%+$EFN @F%0F14%& I& )4%+%& $D).H&,$*+ &,1+,0+ >+ H&H+$GF $D).H+,4* $>413 23?3 l&=.(*&>+H&$ )+ +1&.*.(&+ )&@+%0F Q)&$D+1 G$]$%$1N &,04O&>&+,EF >.%1&>.04=%$%+,$*F >%.,&>FN &,04*&,.HN (*&>.(+,.G+ I3$3R 0+ H$,&O+01F I& >4 )4%+%& $D).H&,$*+3 23S3 P=$0H.O&*&$ =$1+ )+1+%H&,$ )4%+%& $D).H&,$*+ %+>&@$,1+ =%&, >.,1%$>14%$ H40>4*$14%&& ,+1+)+ )+ *$ ,&@+*4* =+%+1+*4& &,1+01&,$*3 23b3 l&=+%*&=+H&$ &)&.=$1&>F O$H&*&$*F 1&= : 0+ H$,&O+01F >*&,&> =%&, )4%+%& $D).H&,$*+N f$,1.$H+N ]+=$1.'0=*+,.H+($*&+N @F%0F14%&3 23Z3 9.%O&%&$ +01+ . 14*D4%$%+ $ H+1$D.*&0H4*4& ]+H4*4& 0& 0+ H$,&O+01F >4 ;87 >.*&>$1&@+ B,0.E&1+ )+ *+G&4,& >41$,$1+ I& 4%&,& >.*.%$1+ B, %.I43 23_3 J+,&*>+1.,4%&$ )+1+%H&,F )4%+%& $D).H&,$*+ )&O4G+3 23a3 `.$*$ 8))&0., 0+ >$%$>1+%&G+$GF =%&, )4%+%& $D).H&,$*+ 0+@+%+ >4 @F%0F14%&N )&$%++N $01+,&+N ]&=.1+,0&4,+ $%1+%&$* I& ]&=+%=&(H+,1$E&+ QH+*$,.)+%H&+ $))&0.,&$,FR3 23\3 gF%0F14%& >&>*&>+ $>+1.,+H&>+d 14*D4%$%+ >.,01&14E&.,$*F >$%$>1+%&G$1F =%&, @F%0F14%& >4 )4%+%& $D).H&,$*+ &,1+,0+ Q=+%&.HD&*&>$* 0$4 +=&($01%&>R3 2$%$>1+%&01&>F +01+ =%+G+,E$ ]$*+,+& $>+1.,+H&>+ I& $ >+1.,4%&+&3 N# 9/@Q* >*@&)C)('A* ;3"3 #&(%+,$ $D).H&,$*Fd )4%+%+ $D).H&,$*F >$%+ >+)+$GF *$ 0.H, 0& %F0=4,)+ *$ 1+%$=&+ $,1&H&(%+,.$0F3 9.$1+ $0.>&$ >+O$*++N (%+$EFN @F%0F14%&N )&$%++3 :01.%&> O$H&*&$* =.G&1&@ )+ H&(%+,F >4 ;873
"""
;3?3 6=&*+=0&$ $D).H&,$*Fd )4%+%& $D).H&,$*+ %+>&)&@$,1+ >4 >$%$>1+% >.*&>$1&@ >4 )+D41 D%40>N )4%+$GF >A1+@$ H&,41+N 04,1 B,0.E&1+ )+ 14*D4%F%& $*+ >.,I1&+,E+& I& 4%H$1+ )+ 0.H,.*+,EF =.01>%&1&>F3 #.)&O&>F%& 66L =%+G+,1+3 ;3S3 54H.%&*+ >+%+D%$*+d >+*+ )+ O.0F =.01+%&.$%F 0+ =.1 B,0.E& )+ ;873 0# 4C?* A/@Q* 63"3 8,+H&&*+ ]+H.*&1&>+ >+ =%+G&,1F B, 1$D*.4* >*&,&> 0=*+,.H+($*&+ &H=.%1$,1F )+1+%H&,F )4%+%+ B, ]&=.>.,)%4* 01A,( Q)+ +f+H=*4N H&>%.0O+%.>&1.G$ +%+)&1$%FR3 C, >$G4* )%+=$,.>&1.G+&N )4%+%&*+ $D).H&,$*+ &,1+,0+ 04,1 >.,0+>&,E$ 1%.HD.G+*.% @$0>4*$%+ >$%+ )+1+%H&,F H&>%.&,O$%>1+ 0=*+,&>+N H+G+,1+%&>+ 0$4 &,1+01&,$*+3 63?3 :,1.f&>$E&$ >4 =*4HDd )4%+%+ $D).H&,$*F )+ &,1+,0&1$1+ 0>FG41F $0.>&$1F >4 >.,01&=$E&+N =&>$ I& $,+H&+ H&>%.>&1$%F3 63S3 `.*&*+ )+ >.*$(+, =.1 )+1+%H&,$ 4,+.%& )4%+%& $D).H&,$*+ @&.*+,1+ >+ =.1 =4,+ =%.D*+H+ )+ )&$(,.01&> )&O+%+,E&$* >4 $D).H+,4* $>413 63b3 8)+,.=$1&&*+ $D).H&,$*+ )+1+%H&,F )4%+%& $D).H&,$*+ )&O4G+ Q *&HO.$H+ H$*&(,+ 01$)&&*+ ::: I& :gN $)+,.=$1&& H+1$01$1&>+ R3 63Z3 8O+>E&4,& $*+ =+%+1+*4& $D).H&,$*d ]+%,&& >4 )&@+%0+ *.>$*&GF%&N H$& O%+>@+,1 B,1A*,&1+ *$ >.=&* O&&,) ]+%,&$ &,(]&,$*F I& >+$ .HD&*&>$*F3 77# N@&*&' /K+)H'>/C* &*A@&*>?* >)>)&(/>'A* ./@ "@>AY')>/C* 2$%$>1+%&01&>&d %+=%+G&,F $=%.f&H$1&@ XY{ )&, )4%+%&*+ $D).H&,$*+ %+>4%+,1+N =%+).H&,F *$ 0+f4* O+H&,&,N $4 4, >$%$>1+% ,+0=+>&O&>N *.>$*&G$%+ O%+>@+,1 B, %+(&4,+$ =+%&.HD&*&>$*F 0$4 *.>$*&G$%+ )&O4GFN ,4 &%$)&$GFN >4 )4%$1F )+ >A1+@$ H&,41+ =A,F *$ H$f&H4H S .%+N ,4 1%+G+0> ,&>&.)$1F >.=&*4* )&, 0.H,3 ;4%+%&*+ O4,>E&.,$*+ ,4 0+ $0.>&$GF >4 0&H=1.H+ 04(+01&@+ =+,1%4 $O+>E&4,& .%($,&>+ Q]+H.%$(&+ )&(+01&@FN O$*&H+,14* >%+I1+%&&N &>1+%N l58N I3$3RN )$% 0+ =.1 $0.>&$ >4 H$,&O+01F%& @+(+1$1&@+ Q1%$,0=&%$E&& %+>&N =$*=&1$E&&N =$*.$%+N $H+E+*&N (%+$EFN >+O$*++N 1%+H4%F14%& $*+ +f1%+H&1FE&*.%R3 6f$H+,4* >*&,&> .D&+>1&@ +01+ ,.%H$*N >4 $D0+,E$ 0+,0&D&*&1FE&& .D&+>1&@+ $ $D).H+,4*4& *$ =$*=$%+3 T+ $O*FH B, O$E$ 4,4& >.=&* ]&=+%>.,I1&&,>&.0N =+%O+>E&.,&01N >4 14*D4%F%& )+ >.H=.%1$H+,1 Q$(%+0&@ 0$4 1&H&)N $,f&.0 RN >4 0.H, $(&1$13 8=$%&E&$ )4%+%&& +01+ *+($1F >+* H$& O%+>@+,1 )+ 0&14$E&& 01%+00$,1+ N 1+014* 1+%$=+41&> O&&,) =.G&1&@ $14,>& >A,) )4%+%&*+ )&0=$% .)$1$ >4 ,.%H$*&G$%+$ $HD&$,E+& =0&].*.(&>+N >4 $)$=1$%+$ $=.%14*4& $*&H+,1$% I3$3;+ H+,E&.,$1 +f&01+,E$ &01.%&>4*4& O$H&*&$* +@.>$1.% )+ )4%+%& $D).H&,$*+ %+>4%+,1+N 01F%& ,+@%.1&>+3 ;&, =4,>1 )+ @+)+%+ +@.*41&@N *$ . 1%+&H+ )&, =$>&+,E& )4%+%&*+ )&0=$% *$ Z $,& )+ *$ )+D41N )$% =.1 0$ %+$=$%F *$ O+1+ .)$1F >4 &,01$*$%+$ >&>*4*4& H+,01%4$*3 2$ +*+H+,1+ )+ =%.(,.01&> ,+O$@.%$D&* H+,E&.,FH 0+f4* H$0>4*&, I& )+D414* )4%+%&*.% B,$&,1+ )+ @A%01$ )+ _ $,&3 J.%H+ >*&,&>+ d ;&0=+=0&$ O4,>E&.,$*F ,+4*>+%.$0Fd )4%+%+ %+>4%+,1F B, +1$k4* $D).H&,$* 04=+%&.% >+ $=$%+ =.01=%$,)&$* I& $0.>&$GF D$*.,$%+N +%4>1$E&&N (%+$EFN 0$E&+1$1+ =%+>.>+3 6,).0>.=&$ )&(+01&@F 04=+%&.$%F +01+ ,.%H$*FN 1%$,IA,) )&$(,.01&>4*3
""?
2.*.,4* &%&1$D&* 0+ >$%$>1+%&G+$GF =%&, )4%+%& $D).H&,$*+ Q>%$H=+R >$%+ 0+ $H+*&.%+$GF )4=F )+O+>$E&+N >.,01&=$E&+ >+ $*1+%,+$GF >4 )&$%++$N )&01+,0&+ $D).H&,$*FN 0>$4,+ >4 H4>40N 4%(+,EF *$ )+O+>$E&+N OF%F >$4G+ .%($,&>+ )+>+*$D&*+ >$%+ 0F )+1+%H&,+ H$,&O+01F%&*+ %+0=+>1&@+3 2.*&>&*+ $D).H&,$*+ $*+ 04($%4*4&d $=$% B, =%&H+*+ S *4,& )+ @&$EF I& 0+ >$%$>1+%&G+$GF =%&, $=$%&E&$ )+ >%&G+ )+ =*A,0 &,1+,0 0+$%$ I& ,.$=1+$3 2%&G+*+ $=$% D%40> I& >+)+$GF )$>F 04($%4* +01+ *4$1 B, D%$E+3P4($%&& $4 $=+1&14* =F01%$1N >4%D$ )+ >%+I1+%+ =.,)+%$*F +01+ ,.%H$*FN 0&,(4%4* 0&H=1.H $0.>&$1 O&&,) H+1+.%&0H4* $D).H&,$*3 9.0&D&*+ >$4G+d &H$14%&1$1+$ 0&01+H4*4& ,+%@.0N 14*D4%F%& +H.E&.,$*+ B, O$H&*&+N %$,(4* : $* ,$I1+%&&3 ;&0=$% 0=.,1$, *$ X""? 0F=1FHA,&3 ;4%+%&*+ $D).H&,$*+ =0&].'0.H$1&>+ $=$% B, $D0+,E$ 01&H4*&*.% O&G&>& I& =.1 $0.>&$ >+O$*++N )4%+%& H40>4*$%+N %$,)$H+,1 I>.*$% 0>FG413 / +f$H&,$%+ $1+,1F I& 4, >.,04*1 =0&].*.(&> +@&)+,E&$GF >.=&& >4 14*D4%F%& )+ >.H=.%1$H+,1N $,f&+1$1+N )+=%+0&+N 14*D4%F%& )+ 0.H, I& >4 =%.D*+H+ I>.*$%+ I& R "$H&*&$*+3 9%$>1&>N ,+ (A,)&H *$ )4%+%& =0&].(+,+ $14,>& >A,) ,4 0+ )+=&01+$GF . >$4GF .%($,&>F 0$4 . .%&(&,+ )&0O4,>E&.,$*F $ )4%+%&&3 C, $>+01F >$1+(.%&+ 0+ B,>$)%+$GF d $R J.D&$ I>.*$%Fd $=$%+ *$ >.=&& ]&=+%=%.1+k$E&N )+=+,)+,E& )+ =F%&,E& =+,1%4 >$%+ I>.$*$ %+=%+G&,1F . %4=14%F Q)&, =4,>1 )+ @+)+%+ +H.E&.,$*R )+ H+)&4* O$H&*&$*3 ;4%+%&*+ $=$% B,$&,1+ )+ $ H+%(+ *$ I>.$*F Q#>.*&>$ )+ *4,& )&H&,+$E$ #R I& )&0=$% B, @$>$,EF 0$4 B, G&*+*+ B, >$%+ ,4 H+%( *$ I>.$*F Q1+01 )&$(,.01&>R3 80.>&$GF >+O$*++N (%+$EFN @F%0F14%&N $01+,&+ I& D+,+O&>&$GF )+ 1%$1$H+,1 =0&].'=+)$(.(&>3 DR ;4%+%& =0&].'0.H$1&>+ )+ $*1+ >$4G+d )4%+%&*+ $D).H&,$*+ $=$% B, 0&14$E&& 01%+00$,1+ >4H $% O& H.$%1+$ 4,+& %4)+N 1+$H$ )+ =%.=%&$ H.$%1+N )&@.%E4* =F%&,E&*.%N >+%&,E+ >+ )+=FI+0> >$=$>&1FE&*+ >.=&*4*4& I3$3 5&/?/H*>? C, >$G4* )4%+%&*.% .%($,&>+N 1%$1$%+$ >$4G+& Q$14,>& >A,) +01+ =.0&D&*R @$ )4>+ *$ %+H&1+%+$ )4%+%&&3 5%$1$H+,14* )4%+%&*.% $D).H&,$*+ ,.,.%($,&>+ >.,01F B, $0.>&+%+$ %+(&H4*4& )&+1+1&> >4 . 1+%$=&+ O$%H$>.*.(&>F I& 4,$ ,+O$%H$>.*.(&>F3 7+(&H4* )&+1+1&> %+>.H$,)$1d >%+I1+%+$ $=.%14*4& )+ $*&H+,1+ D.($1+ B, O&D%+ Q>+%+$*+N O%4>1+N *+(4H+R B, O4,>E&+ )+ 1.*+%$,E$ &,)&@&)4$*FN %+)4>+%+$ 0$4 +@&1$%+$ >.O+&,+& Q2.>$'2.*$N >+$& ,+(%4N >$O+$R I& $ O4H$14*4& *$ $).*+0>+,E&N H+0+ %+(4*$1+N +@&1$%+$ $*&H+,1+*.% =&>$,1+N =%Fk&1+3 7+>.H$,)F%&*+ 0+ O$> B, >.,>.%)$,EF >4 O.%H$ >*&,&>F )+ $D).H+, )4%+%.0 O4,>E&.,$* =+ >$%+ . =%+G&,1F =$>&+,14*3 ;+ +f+H=*4N B, >$G4* >.*.,4*4& &%&1$D&* >4 =%+).H&,+,E$ H+1.%&0H4*4& $D).H&,$* 0+ @.% +@&1$ DF414%&*+ $>&)4*$1+N $*4$14%&*+ =%.$0=+1+N HFHF*&($N $,4H&1+ *+(4H+ Q >+$=FN O$0.*+ D.$D+N @$%GFN >.,.=&)FN H$GF%+N >$%1.O& R I& O%4>1+ Q=+%+N =%4,+N H+%+ RN *$=1+*+ )4*>+ I& D%A,G+14%&*+ O+%H+,1$1+N (%$0+3 5+%$=&$ O$%H$>.*.(&>F >.,01F B, $)H&,&01%$%+$ )+ $,1&>.*&,+%(&>+ Q;+D%&)$1 0$4 9%.=$,1+*&,FRN =%.j&,+1&>+ Q#+1.>*.=%$H&)RN $,1&0+>%+1.%&& ($01%&>+ I& $,1&)+=%+0&@+ 1%&>&>*&>+ QOF%F +O&>&+,EF ).@+)&1FR3 5%$1$H+,14* ,.,O$%H$>.*.(&> >4=%&,)+d >.,0&*&+%+ =0&].*.(&>F I& %+)4>+%+$ 01%+04*4&N +@&1$%+$ O$>1.%&*.% )+>*$,I$1.%&N >.,1&,4$%+$ $>1&@&1FE&*.% .D&I,4&1+ B, +=&0.$)+*+ )4%+%.$0+
""S
>4 +@&1$%+$ $D0+,1+&0H4*4& I>.*$%N 4%HF%&%+ *$ >+* =4E&, _ *4,& I& O.$%1+ &H=.%1$,1 +01+ 0F *& 0+ +f=*&>+ =F%&,E&*.% >F )4%+%+$ +01+ %+$*F )$% ,4 0+ )$1.%+$GF 4,+& $O+>E&4,& .%($,&>+3 X'KC')(&/"'*^ "3 2&.O4 2N 2&.O4 6 ' ;4%+%&*+ $D).H&,$*+ %+>4%+,1+ B, 2&.O4 2N 2&.O4 63 ' 60+,E&$*4* &, 9+)&$1%&+N 6)&14%$ #+)&>$*$ 8H$*1++$N `4>4%+01& ?YY?d Sbb'Sba3 ?3 ;$, 63 ' 8D).H+,4* )4%+%.0 >%.,&> *$ >.=&*N 6)&14%$ #+)&>$*F `4>4%+I1&N "X\b3 S3 J+*+$ ;3 e 8D).H+,4* >%.,&> )4%+%.0 Q )4%+%&*+ $D).H&,$*+ %+>4%+,1+ R B, J+*+$ ;3' #+)&>&,F L+,+%$*FN #+)&>&,$ J$H&*&+& 2.=&&N 6)&14%$ 2+%H& :$I&N ?YYYdZS'_\3 b3 •*&+(H$, 7 #3 ' 8>41+ $,) >]%.,&> $D).H&,$* =$&, &, 9%$>1&>$* P1%$1+(&+0 &, 9+)&$1%&> ;&$(,.0&0 $,) 5]+%$=}N P+>.,) 6)&1&., D} •*&+(H$, 7#N L%++,D$4H - 8N -}+ 9PN 6*0+@&+% P$4,)+%0 ?YYbd ?bX'?_X3 Z3 #$, P2N T$,4*+0>4 #g3 ' ;4%+%+$ $D).H&,$*F %+>4%+,1F B, #$, P2N T$,4*+0>4 #g ' 9+)&$1%&+ 9%$>1&>FN 6)&14%$ 7&0.=%&,1 2*4k'T$=.>$ ?YY_d ?"_'??S3 _3 #F1F0$%4 P3 ' 8D).H+,4* )4%+%.0 04D$>41N >%.,&> 0$4 %+>&)&@$,1 B, #F1F0$%4 PN 9+)&$1%&+' L]&) =+,1%4 #+)&>4* )+ J$H&*&+N 6)&14%$ P1+O :$I&N ?YYad "Z"'"_"3 a3 #.&>+$,4 #N ;%$(.H&% ;N 9.=+0>4 g3 ' ;4%+%+$ B, =+)&$1%&+ N T(7'8)2 T%90"3 1( O(1'2)*'(' g.*3-g:N T%3?N ?YYa d "aZ'"\a3 \3 #.&>+$,4 #N 9*+I>$ ;N `4%4&$,F JN ;%$(.H&% ;N 9.=+0>4 g3 ' #+1.)+ )+ +@$*4$%+ $ )4%+%&& *$ >.=&& I& $).*+0>+,E&N T(7'8)2 T%90"3 1( O(1'2)*'(' g.*3-gN T%3"N ?YY_d Zb'_b3 X3 P1F,+0>4 #3 ' P&,)%.H4* &,1+01&,4*4& &%&1$D&* B, 9+)&$1%&+ 5%$1$1 04D %+)$>E&$ 2&.O4 6N 2&.O4 2N 6)&14%$ #+)&>$*F `4>4%+I1& ?YY"d Z\?'Z\a3
""b
<425791;4275:j7 4;0 64,4%060,51;17 N120277 ;4 Ps2!5,797 #$4%$'L$D%&+*$ J+*+$ ;&0>&=*&,$ )+ P+H&.*.(&+ #+)&>$*$ C, EF%&*+ )+G@.*1$1+ I& B, >4%0 )+ )+G@.*1$%+N @A%01,&>&& 04,1 >.,0&)+%$E& $ O& =+%0.$,+*+ >4 @A%01$ =+01+ _Z )+ $,&3 9A,F *$ $>+$01F @A%01FN =+%0.$,+*+ $>4H4*+$GF . 0+%&+ )+ $O+>E&4,& >$%+ 0+ H$,&O+01F =%&, 0&,)%.H+f=.,+,E&$*F )+ O%$(&*&1$1+$ )4=F @A%01$ )+ aZ$)+ $,&3 C, =.=4*$E&$ )+ =+01+ aZ )+)&G$D&*&1FE& $,&N $=$%+ I& . >%+I1+%+ H.%D&'H.%1$*&1FE&&N )+>*&,4*4& 0.>&.'+>.,.H&>N >$%+ 0.*&>&1F 04=*&H+,1$% 0&01+H4* )+ $0&(4%F%& )+ 0F,F1$1+ I& )+ $0&01+,EF 0.>&$*F QJ+%%+**N "XX_q l+ +1 $*3N ?YYZR3 ;4%+%+$ %+=%+G&,1F 4, 0&H=1.H )+>*$,I$1 )+ 01&H4*& 0+,G.%&$*& )+ ,.>&>+=E&+ 0$4 )+ H+>$,&0H+ ,+4%.=$1.*.(&>+3 9+%>+=E&$ 0+,G$E&+& )4%+%.$0+ +01+ &,O*4+,E$1F )+ +f=+%&+,E$N $H&,1&%&*+N +f=+>1$1&@+*+ I& >.,1+f14* +H.E&.,$* QP1+%,D$>]N "Xa\R3 6/>/(*H*>?@C "/&H/A)C)('A /C +@&*&'' G*&.'.?*>?* C/ G*&.)/>*C* Ip&.?>'A* ;4%+%+$ =+%0&01+,1FN 1+%H+, >$%+ $ B,*.>4&1 K)4%+%+$ >%.,&>FMN +01+ >+$ >$%+ >.,1&,4F . =+%&.$)F H$& *4,(F )+ 1&H= e =+01+ S 0$4 _ *4,&N 0$4 H$& H4*1N O&&,) $0.>&$1F 0$4 ,4 4,4& =%.>+0 =$1.*.(&>3 P+ =%+04=4,+ >F B, 4,+*+ $O+>E&4,& =%+>4H ,+@%$*(&$ =.01]+%=+1&>FN *.HD$*(&$ 0$4 ,+.=*$G&$N =$>&+,E&& $% =41+$ %+0&HE& . )4%+%+ >4 >$%$>1+% =+%0&01+,13 ;4%+%+$ =+%0&01+,1FN O%+>@+,1 B,1A*,&1F B, =.=4*$E&$ @A%01,&>F Q;.,$*) “ J.}N ?YYbq l+*H+ “ L&D0.,N ?YY"q 5].H$0N ?YYbRN +01+ $0.>&$1F $O+>E&4,&*.% H40>4*.0>]+*+1$*+N >$ )+ +f+H=*4 )+(+,+%$1&@+ $*+)+1+%H&,$1F >.*.$,+&N 0$4 &,O*$H$1.%&& $%1&>4*$%+3 ;4%+%+$ ,.>14%,F D.*&*+ B, H+HD%4* &,O+%&.%N )+$O+>E&4,&*.% >%$H=+ H40>4*$%+N 0&,)%.H4* =&>&.$%+*.% ,+*&,&I1&1+ 0$4 $*1+ >$4G+N I& )4%+%+$ )+ 1&= >*$4)&>$E&+ =%+).H&,F *$ $>+$01F >$1+(.%&+ )+ @A%01F3 ;4%+%+$ +01+ %+0&HE&1F *$ =+01+ \Y{ )&, =$>&+,E&& >4 ,+.=*$G&& Q7$. “ 2.]+,N ?YYbRN I& $=$%+ >4 >$%$>1+% =+%0&01+,1 *$ >+& $O*$E& 04D 1%$1$H+,1 .,>.*.(&> Q9.11+% mN l&((&,0.,N ?YYbRN $01O+* B,>A1 H$,$(+H+,14* )4%+%&& 0+ B,>$)%+$GF B, $%0+,$*4* 1+%$=+41&> .,>.*.(&> )$% I& B, H+)&>&,$ =$*&$1&@F 0$4 )+ O&,$* )+ @&$EF3 -$ =+%0.$,+*+ $0&01$1+ I& *$ >+& $O*$E& B, $G&*+N >%+I1+ ,4HF%4* $O+>E&4,&*.% B,0.E&1+ )+ )4%+%+ =+%0&01+,1F QJ+%%+**N "XXYq J+%%+**N "XXZR3 T+@%$*(&$ &,)40F )+ )&$D+1N &,O+>E&& =%+>4H ]+%=+0 G.01+%N D.$*$ $%1+%&$*F =+%&O+%&>FN 1%$4H$1&0H+*+N &,>*4GA,) &,1+%@+,E&$ >]&%4%(&>$*FN $H=41$E&$N 0$4 $*1+ *+G&4,& ,+%@.$0+N +01+ 4, )&$(,.01&> H$& %$%3 0I/C@/&*/ +@&*&'' G*&.'.?*>?* <&'>A'G'' (*>*&/C* 8D.%)$%+$ B, H$,$(+H+,14* )4%+%&& =+%0&01+,1+ +01+ )&O+%&1F *$ >+*+ ? (%4=+ =.=4*$E&.,$*+d 1&,+%& +01+ I& @A%01,&>&3 5$D*.4*gA%01,&>&& >*&,&> *$%+*$1+$GF @A%01,&>&&H$& >4 %$% )4%+%+ =+%0&01+,1F >.H=*+f &$% +1&.*.(&$ H4*1&O$>1.%&$*F3 0+,G$E&$ )+ )4%+%+N+01+ &$% B, =%+G+,E$ 4,.% $O+>E&4,& >.,>.H&1+,1+ 0$4 )&G$D&*&1FE& )&@+%0+N $1A1 +@$*4$%+$ >A1 I& 1%$1$H+,14* 04,1 H$& )&O&>&*+3 gA%01,&>&& $4 . =%.D$D&*&1$1+ H$& H$%+ )+ $ =%+G+,1$ +O+>1+ $)@+%0+ H+)&>$H+,1.$0+3
""Z
X/A`(&)@>+ k' .*H>'"'A/Y'* ;4%+%+$ +01+ . +f=+%&+,EF 0+,G.%&$*F I& +H.E&.,$*F ,+=*F>41F Q#+%0j+} “ `.()4jN "XXbR3 ;4%+%+$ +01+ 4, O+,.H+, >.H=*+f )+%&@$1 )&, 01&H4*$%+ 0+,G.%&$*F 0$4 )&, &,k4%&+ ,+4%.*.(&>FN I& H.)&O&>$1F )+ H+H.%&$ &,)&@&)4$*FN )+ $I1+=1F%& I& +H.E&& QP1+%,D$>]N "Xa\R3 ;4%+%+$ +01+ $0.>&$1F )+ .D&>+& >4 *+G&4,& 0$4 =%.>+0+ O&G&.=$1.*.(&>+ >$%+ &,)4> . +f=+%&+,EF &,>.H.)F3 ;+I& ,4 +f&01F H$%j+%& D&.*.(&>& .D&+>1&@& $& )4%+%&&N )+0>%&+%+$ &,)&@&)4$*F I& $41.' %$=.%1$%+$ $0&(4%F $)+0+$ +@&)+,E+ =%+>&0+N 0&(4%+ I& 04O&>&+,1+ =%&@&,) =%+G+,E$ I& &,1+,0&1$1+$ )4%+%&& Q54%j “ #+*G$>jN "XX?R3 ;4%+%+$ =+%0&01+,1F =.$1+ O& )+O&,&1F >$ . +f=+%&+,EF )4%+%.$0F >$%+ >.,1&,4F . =+%&.$)F *4,(F )+ 1&H=N $0.>&$1F 0$4 ,4 4,4& =%.>+0 =$1.*.(&> 4I.% )+ %+>4,.0>41 0$4 )+k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f&01+,E+& 4,+& *$%(& =$*+1+ 1+%$=+41&>+ >$%+ =.$1+ $*&,$ 04O+%&,E$ Qx+&,+% “ l+%%N ?YY?R3 C, H.) .D&I,4&1N H$,&O+01F%&*+ >*&,&>+ $*+ )4%+%&& =+%0&01+,1+ 04,1 H4*1&O$>1.%&$* )+1+%H&,$1+3 ;$1.%&1F &,1+%$>E&4,&& >.H=*+f+ )&,1%+ $>+I1& O$>1.%& B, H4*1+ ).H+,&& QO&G&.*.(&>N =0&].*.(&> I& 0.>&$*RN %FHA,+ . =%.@.>$%+ )+=&01$%+$ O$>1.%&*.% $@A,) >+* H$& &H=.%1$,1 %.* I& B, O4,>E&+ )+ >$%+ 0F $*+(+H 1%$1$H+,14*3 / $*1F >.H=*&>$E&+ . $)$4(F +f=%&H$%+$ )4%+%&& I&N 0+>4,)$%N @$%&$D&*&1$1+$ &H=.%1$,E+& O$>1.%&*.% $1A1 B,1%+ &,)&@&G& >A1 I& B, 1&H= *$ $>++$I& =+%0.$,F3 ;&, >.,0&)+%+,1+ )+H.(%$O&>+N 0$4 )+ $0&(4%$%+ I& )+ $,($k$%+N @A%01,&>&& 04,1 >.,0&)+%$E& B, (+,+%$* $@A,) @A%01$ =+01+ _Z )+ $,&3 ;&, =4,>1 )+ @+)+%+ $* 0F,F1FE&&N @A%01,&>&& 04,1 )+0>%&I& $)+0+$ >$ O&&,) =+%0.$,+*+ >+*+ H$& O%$(&*+N >4 =%.D*+H+ )+ 0F,F1$1+ I& )&G$D&*&1FE& B,1A*,&1+ B, =.=4*$E&&*+ B,$&,1$1+ B, @A%01F3 9A,F *$ @A%01$ )+ aZ )+ $,&N H4*1+ =+%0.$,+ )+G@.*1F 4, (%$) )+ O%$(&*&1$1+ I& =%+G&,1F 4, >4H4* )+ D.*& >%.,&>+3 C, =.=4*$E&$ )+ =+01+ aZ )+ $,&N H.%D&'H.%1$*&1$1+$ I& =%.D*+H+*+ 0.>&$*+ B,%+(&01%+$GF . >%+I1+%+ %$=&)FN $@A,) )%+=1 >.,0+>&,EF 0.*&>&1$%+$ >.,0&)+%$D&*F $ 0&01+H4*4& )+ B,(%&k&%& )+ 0F,F1$1+ I& $ 0&01+H4*4& )+ $0&(4%F%& 0.>&$*+3 8>+$01F >*$0F =.=4*$E&.,$*F %+=%+G&,1F 0+(H+,14* >4 >%+I1+%+$ >+$ H$& %$=&)F )&, 1.1$*4* =.=4*$E&+& QJ+%%+**N "XX_R3 2+$ H$& 0+H,&O&>$1&@F =%.@.>$%+ B, (+%&$1%&+ . %+=%+G&,1F =$>&+,E&& >+& H$& B, @A%01FN H$& D.*,$@& I& O%$(&*&N >4 H4*1&=*+ =%.D*+H+ H+)&>$*+ I& 0*$D 04=.%1 0.>&$*3 ;4%+%+$ =+%0&01+,1F +01+ O%+>@+,1F *$ @A%01,&>& Ql+*H+ “ L&D0.,N "XXXR3 <, 1%&$* $H+%&>$, %+$*&G$1 =+ D$G$ 4,4& >]+01&.,$% 1+*+O.,&> Q2..,+% “ 8H.%.0&N "XXaR $ $%F1$1 >F " )&, Z @A%01,&>& &$4 %+(4*$1 . H+)&>$E&+ $,$*(+G&>F Q)+ >A1+@$ .%& =+ 0F=1FHA,F 0$4 H$& H4*1RN &$% _S{ )&,1%+ $>+I1&$ &$4 %+E+1$ =+,1%4 0&H=1.H$1.*.(&$ $*(&>F )+ H$& H4*1 )+ _ *4,& Q2..,+% “ 8H.%.0&N "XXaR3 >%.,&>+ 9%.D$D&*&1$1+$ )+ 1&= $%1%&1&>N ).%0.' *.HD$% 0$4 $ $*1.% $O+>E&4,& +01+ H$&04O+%&,E+& H$%+ *$ @A%01,&>3 8>+*$I& .01+.'$%1&>4*$%N 014)&4 $ $%F1$1 >F bZ{ )&, =$>&+,E&& $O*$E& 04D 1%$1$H+,1 >%.,&> $,1&$*(&> 0'$4 $)%+0$1 *$ H$& H4*1 )+ S 0=+>&$*&I1& B, 4*1&H&& Z $,&N )&,1%+ >$%+ aX{ +%$4 H+)&>& (+,+%$*&I1&3 P14)&& $,1+%&.$%+ $4 $%F1$1 >F B,1%+ ?Z I& ZY{ )&, @A%01,&>&& )&, >.H4,&1$1+ 04O+%F )&, >$4G$ )4%+%&& $0.>&$1+ )&@+%0+*.% $O+>E&4,& Ql+*H+ “ L&D0.,N "XXXq `*}1] +1 $*3N ?YY"q #$,1}0+*j$ +1 $*3N ?YY"R3 ;4%+%+$ +01+ )+ $0+H+,+$ 4, 0&H=1.H O%+>@+,1 *$ %+G&)+,E&& )&,
""_
$G&*+ QJ+%%+**N "XXZq `+%,$D+&N "XX\RN 4,)+ bZ{ =A,F *$ \Y{ =%+G&,1F )4%+%+ )+ H$%+ &,1+,0&1$1+ )$% >$%+ ,4 +01+ 1%$1$1F3 P14)&& =+ =.=4*$E&& )&, >.H4,&1$1+ I& )&, $G&*+ $4 %+*+@$1 >F @A%01,&>&& =%+G&,1F $)+0+$ H$& H4*1+ >$4G+ $*+ )4%+%&&N >++$ >+ ,4 +01+ 04%=%&,GF1.% )$1.%&1F >.H.%D&)&1FE&*.% *$ $>+$01F @A%01F3 9%+@$*+,E$ >%+0>41F $ )+H+,E+&N 14*D4%F%&*+ 0+,G.%&$*+N =%+>4H I& )&G$D&*&1FE&*+ $>+01+& (%4=+ =.=4*$E&.,$*+ O$> )&O&>&*F +@$*4$%+$ I& H$,$(+H+,14* )4%+%&&3 2.,0+>&,E+*+ )4%+%&& =+%0&01+,1+ *$ @A%01,&>& 04,1 H4*1&=*+3 ;+=%+0&$N $,f&+1$1+$N )+0.>&$*&G$%+$N 14*D4%F%&*+ )+ 0.H,N 14*D4%F%&*+ )+ H+%0r)+$HD4*$E&$N =%+>4H I& $>>+04* 1.1 H$& O%+>@+,1 *$ 0+%@&>&&*+ )+ 0F,F1$1+ >4 >%+I1+%+$ >.014%&*.% 0'$4 $0.>&$1 >4 =%+G+,E$ )4%+%&& *$ =+%0.$,+*+ B, @A%01F3 6f&01F )+ $0+H+,+$ I& $*1+ $O+>E&4,& >$%+ $4 4, =.1+,E&$* )+ $(%$@$%+ =%&, =%+G+,E$ )4%+%&&N &,>*4GA,) 14*D4%F%&*+ )+ H+%0N %+>4=+%$%+$ *+,1F I& +O+>1+*+ $)@+%0+ 0+>4,)$%+ =*4%&H+)&>$E&+& Q8LP 9$,+* ., 2]%.,&> 9$&, &, /*)+% 9+%0.,0N "XX\R3 J$>1.%&& =0&].0.>&$*& &,O*4+,E+$GF I& 04,1 $O+>1$E& )+ )4%+%+ *$ =+%0.$,+*+ @A%01,&>+3 P' $ $%F1$1 >F @A%01,&>&& >4 . D4,F 01%$1+(&+ )+ $)$=1$%+ $4 . 0+,G$E&+ )4%+%.$0F I& . )&G$D&*&1$1+ =0&].*.(&>F 0+H,&O&>$1&@ H$& %+)40+ Q•++O+ +1 $*3N "X\aR3 ;+=%+0&$ 0+ $0.>&$GF O%+>@+,1 >4 )4%+%+$ *$ @A%01,&>N 4,+*+ 014)&& $%F1A,) +f&01+,E$ 4,+& >.%+*$E&& 0+H,&O&>$1&@+ B,1%+ )4%+%+ I& )+=%+0&+ *$ %+G&)+,E&& )&, $G&*+N )4%+%+ >+ $ =+%0&01$1 >]&$% I& )4=F >+ 0'$ .DE&,41 . $H+*&.%$%+ $ 01$1404*4& O4,>E&.,$* Q$41.'%$=.%1$1R I& $ 0F,F1FE&& O&G&>+ Q9$%H+*++ +1 $*3N "XX"R3 9$>&+,E&& @A%01,&>& >4 )4%+%+ ,+.=*$G&>F 0+ D$G+$GF O.$%1+ H4*1 =+ $k41.%4* O$H&*&+& I& $* &,(%&k&1.%&*.% &,O.%H$*&3 9+,1%4 $HD&&N )4%+%+$ =.$1+ O& . H+1$O.%F $ H.%E&&N >.,)4>A,) >F1%+ . 04O+%&,EF )&, >+ B, >+ H$& H$%+ QJ+%%+** +1 $*3N "XX"R3 2*$0&O&>$%+$ )4%+%&& =+%0&01+,1+ B, 1+%H+,& O&G&.=$1.*.(&>& =.$1+ $@+$ 41&*&1$1+ B, >*&,&>FN B, $*+(+%+$ 1+%$=+41&>F I& B, 01$D&*&%+$ =%.(,.01&>4*4& Q8LP 9$,+* ., 2]%.,&> 9$&, &, /*)+% 9+%0.,0N "XX\R3 P1%$1+(&&*+ 1+%$=+41&>+ >$%+ E&,1+0> 0=+>&O&> H+>$,&0H+*+ )4%+%&& $4 . H$& H$%+ =%.D$D&*&1$1+ )+ $ O& +O&>$>+3 6f&01F =$1%4 H$%& >$1+(.%&& O&G&.=$1.*.(&>+ $*+ )4%+%&& >$%+ >4=%&,) H$k.%&1$1+$ 0&,)%.$H+*.% $*(&>+d - )4%+%+$ ,.>&>+=1&@F e =.$1+ O& @&0>+%$*F 0$4 0.H$1&>FN %+G4*1A,) >+* H$& $)+0+$ )&, 01&H4*$%+$ %+>+=1.%&*.% ,.>&>+=E&+&3 9.$1+ $=F%+$ )$1.%&1F &,O*$H$E&+& E+0414%&*.%N )+O.%HF%&& H+>$,&>+N *+G&4,&*.% $>41+ 0$4 )&01%4>E&+&N >$ )+ +f+H=*4 $%1%&1$ &,O*$H$1.%&+ 0$4 1%$4H$1&>FN 0&,)%.$H+*+ $*(&>+ H&.O$0>&$*+ 0$4 $O+>E&4,&*+ &0>]+H&>+3 #+>$,&0H+*+ ,.>&>+=1&@+ %F0=4,) )+ .D&>+& D&,+ *$ $D.%)$%+$ 1+%$=+41&>F 1%$)&E&.,$*F $ )4%+%&&N >$%+ &,>*4)+ H+)&>$E&$ $,$*(+G&>F I& 01%$1+(&&*+ ,.,O$%H$>.*.(&>+3 - )4%+%+$ ,+4%.=$1&>F e %+G4*1$,1F $ 4,4& =%.>+0 O&G&.=$1.*.(&> >$%+ &H=*&>F 0&01+H4* ,+%@.0 =+%&O+%&> 0$4 >+,1%$*N >$ )+ +f+H=*4 B, ,+4%.=$1&$ )&$D+1&>FN ,+@%$*(&$ )+ 1%&(+H+, 0$4 ,+@%$*(&$ =.01]+%=+1&>FN )4%+%+$ =.01'01%.j+ 0$4 )4%+%+$ 1$*$H&>FN )4%+%+$ =.01'$H=41$1&+ $ H+HD%4*4& O$,1.HF3 8>+01+ 0&,)%.$H+ $*(&>+ ,4 $4 $>++$I& =%+)&>1&D&*&1$1+ )+ %F0=4,0 *$ 1+%$=&$ $,$*(+G&>F >.,@+,E&.,$*F >$ )4%+%+$ ,.>&>+=1&@F3 P14)&&*+ )+0>%&4 +f&01+,E$ %F0=4,04*4& *$ )%.(4%&*+ $,$*(+G&>+ ,+>.,@+,E&.,$*+N =%+>4H $,1&)+=%+0&@+*+ 1%&>&>*&>+N $,1&>.,@4*0&@$,1+*+ 0$4 H+)&>$E&$ $,1&$%&1H&>F3
""a
)4%+%+$ H&f1F 0$4 ,+0=+>&O&>F e =$%+ $ $@+$ H+>$,&0H+ H&f1+ 0$4 ,+>4,.0>41+3 8=$%+ B, >+O$*++$ %+>4%+,1F I& B, 4,+*+ 0&,)%.$H+ $*(&>+ )&, @$0>4*&1+3 5%$1$H+,14* +01+ &H=%+)&>1&D&* I& =.$1+ ,+>+0&1$ $D.%)F%& )&@+%0+ 0$4 >.HD&,$1+3 - $O+>E&4,& %$%+ Q+f3d )4%+%+$ =0&].(+,FR e 14*D4%F%&*+ =0&].*.(&>+ 04,1 %+0=.,0$D&*+ )+ )+D414*N 0+@+%&1$1+$N +f$>+%D$%+$ 0$4 =+%0&01+,E$ )4%+%&&3 8>+I1& =$>&+,E& =.1 D+,+O&>&$ )+ 1%$1$H+,1+ =0&]&$1%&>+ 0=+>&O&>+N 1%$1$H+,14* $,$*(+G&> ,+O&&,) &,)&>$13 #.)&O&>F%&*+ *+($1+ )+ @A%01F B, =+%>+=E&$ )4%+%&& $4 O.01 %+H$%>$1+ *$ @A%01,&>& I& )+0>%&0+ .)$1F >4 H$,&O+01F%&*+ >*&,&>+ ,+.D&I,4&1+ )&, D.*&*+ >%.,&>+3 ;+0>.=+%&%&*+ -
,+4%.$,$1.H&>+ I& ,+4%.>]&H&>+ )+0>%&0?YY"R3 >.H=*+f&1$1+$ =+%>+=E&+& H.)4*F%&& )4%+%&& B, 0&01+H4* ,+%@.0 >+,1%$* QL&D0., “$4l+*H+N P+ >4,.$I1+ O.$%1+I&=4E&, )+0=%+ +O+>14* 0&,(4*$% $* @A%01+& $04=%$ >.H=*+f&1FE&& O4,>E&&*.% $*(&>+ ,+4%$*+r ,+4%.,$*+3 ;+I& $*1+%$%+$ 1%$,0H&0&+& )+'$ *4,(4* O&D%+*.% ,+%@.$0+ 8')+*1$ I& 2 =.1 O& $0.>&$1+ BHDF1%A,&%&& Q2]$j.4% +1 $*3N "XX_RN ,4 0+ >4,.$I1+ >4H =.$1+ $>+$01$ &,O*4+,E$ +f=+%&+,E$ )4%+%.$0F $ 4,4& &,)&@&)3 P14)&& +f=+%&H+,1$*+ $*+ 0+,0&D&*&1FE&& )4%+%.$0+ I& 1.*+%$,E+& *$ )4%+%+ =+,1%4 1.$1+ (%4=+*+ )+ @A%01F Q1&,+%& I& @A%01,&>&R $4 $@41 %+G4*1$1+ >.,1%.@+%0$1+ QL&D0., “ l+*H+N ?YY"R3 C, $,$*&G$ O&,$*F $ $>+01.%$ 0+ >.,>*4G&.,+$GF >F H.)&O&>F%&*+ *+($1+ )+ @A%01F B, =+%>+=E&$ )4%+%&& ,4 $4 =%.D$D&* 0+H,&O&>$E&+ >*&,&>F3 P1%$1+(&$ >+$ H$& >.H4,F )+ H$,$(+H+,1 $* )4%+%&& +01+ 41&*&G$%+$ H+)&>$H+,1+*.% $,$*(+G&>+3 ;&, ,+O+%&>&%+N =$>&+,E&& @A%01,&>& $4 O.01 +f>*4I& B, H.) 0&01+H$1&> )&, 1%&$*4%&*+ >*&,&>+ >4 $>+01+ H+)&>$H+,1+3 C,1%'4, %$=.%1 $ \S )+ 1%&$*4%& %$,).H&G$1+ =+ H+)&>$E&+ $,1&&,O*$H$1.%&+ ,.,01+%.&)&$,F Q8:TPR >$%+ $4 &,>*40 $=%.$=+ "Y3YYY )+ 04D&+>E&N 04D S{ $4 $@41 @A%01$ =+01+ _Z )+ $,&N I& ,&>& 4,4* ,'$ O.01 H$& B, @A%01F )+ \Z )+ $,& Q7.>]., +1 $*3N "XXSR3 ;+I& @A%01,&>&& $4 . =%.D$D&*&1$1+ H$& H$%+ )+ $ =%+G+,1$ %+$>E&& $)@+%0+ *$ H+)&>$E&$ $,$*(+G&>FN 1.14I& +& =$% 0F O&+ H$& 0+,0&D&*& *$ =%.=%&+1FE&*+ $,$*(+G&>+N B, 0=+>&$* *$ .=&.&G& Q•$&j. +1 $*3N "X\?R3 -$ @A%01,&>&& >4 )4%+%+ =.01.=+%$1.%&+ 0$4 ,+.=*$G&>FN 014)&&*+ =+ ).GF 4,&>F $4 $%F1$1 . $H+*&.%$%+ H$& =41+%,&>F I& )+ )4%$1F $ )4%+%&& $1A1 04D H.%O&,F Q•$&j.N "X\YR >A1 I& 04D $*1+ 04D01$,E+ .=&.&)+ Q`+**@&**+ +1 $*3N "Xa"R3 <1&*&G$%+$ H+)&>$H+,1+*.% $,$*(+G&>+ .=&.&)+ =+,1%4 )4%+%+$ =+%0&01+,1F ,.,' ,+.=*$G&>F %FHA,+ >.,1%.@+%0$1FN )+I& )+>*$%$E&&*+ H$k.%&1FE&& .%($,&G$E&&*.% =%.O+0&.,$*+ )+ H$,$(+H+,1 $* )4%+%&& 040E&, %+>.H$,)$%+$ $>+01.%$ B, 0&14$E&& 0=+>&O&>+ Q+f3d 8>$)+H&$ 8H+%&>$,F )+ H$,$(+H+,1 $* )4%+%&& e 889#N I& P.>&+1$1+$ 8H+%&>$,F )+ )4%+%+ e 89PR3 7+G&01+,E$ *$ =%+0>%&+%+$ $>+01.% H+)&>$H+,1+ $ O.01 =%.D$D&* &,O*4+,E$1F I& )+ =%+0&4,&*+ =.*&1&>.'0.>&$*+ B,)%+=1$1+ 0=%+ >.,1%.*4* >.,04H4*4& &*&>&1 $* $>+01.% )%.(4%& Q#+*G$>jN "XXYq J&,+N ?YYYR3 :,>&)+,E$ >.H=.%1$H+,14*4& $)&>1&@ $=$%+ >$ O&&,) O.$%1+ %+)40F *$ >.,04H$1.%&& )+ H+)&>$H+,1+ .=&.&)+ >$%+ $4 &,)&>$E&+ H+)&>$*F Q9.%1+,.}N "XX"q l$%)+,N ?YY?R3 C, =*40N +f+%>&1$%+$ >4 $1+,E&+ $ %+0=.,0$D&*&1FE&& =%.O+0&.,$*+ %+)4>+ %&0>4* )+ $D4G3 801O+*N ).$% O%&>$ )+ $)&>E&+ I& )+ $*1+ +O+>1+ $)@+%0+ ,4 k401&O&>F *&=0$ 41&*&GF%&& .=&.&)+*.% B, 1%$1$H+,14* )4%+%&& 0+@+%+3 6/>/(*H*>?@C +@&*&'' G*&.'.?*>?* 9%&,>&=&& (+,+%$*+ #$,$(+H+,14* )4%+%&& $%+ +O&>$>&1$1+$ >+$ H$& H$%+ $14,>& >A,) >$4G$ 04D&$>+,1F $ )4%+%&& +01+ &)+,1&O&>$1F I& 1%$1$1F )+O&,&1&@r>4%$1&@3 gA%01,&>4* )+@&,+ @&>1&H$ =%+O+%+,E&$*F $ &$1%.(+,&+& )$1.%&1F 04HF%&& H$& H4*1.% +@+,&H+,1+ Q<,(4%+$,4 +1 $*3N ?YYa$R3 9+ )+ . =$%1+N )$1.%&1F >.H.%D&)&1FE&*.%N $>+01$
""\
)+@&,+ 4, H$%+ >.,04H$1.% )+ 0+%@&>&& H+)&>$*+ I& H+)&>$H+,1+N >++$ >+ B* O$>+ . @&>1&HF 0&(4%F $ =.*&=%$(H$G&+& I& &,1+%O+%+,E+*.% H+)&>$H+,1.$0+ Q<,(4%+$,4 +1 $*3N ?YYaDR3 9+ )+ $*1F =$%1+N )$1.%&1F B,$&,1F%&& B, @A%01FN $=$% )+O&>&+,E+ O4,>E&.,$*+ H4*1&=*+ >.,0+>41&@+ )+>*&,4*4& O&G&.*.(&> Q14*D4%F%& )+ O$%H$>.>&,+1&>F I& O$%H$>.)&,$H&+N 14*D4%F%& H.1.%&&N @&G4$*+N )+ )+(*41&E&+N >.(,&1&@+R >$%+ =.1 &,O*4+,E$ ,+($1&@ %F0=4,04* *$ 1%$1$H+,1 Q8*+f$ +1 $*3N ?Y"SR3 T4 B, 4*1&H4* %A,)N $0&(4%$%+$ >.H=*&$,E+& 1+%$=+41&>+ *$ 4, =$>&+,1 @A%01,&> >4 D.*& >.,>.H&1+,1+ ,4H+%.$0+ I& )&@+%0+N 0>]+H+ 1+%$=+41&>+ >.H=*&>$1+ I& %+(&H4%& $*&H+,1$%+ 01%&>1+ %+=%+G&,1F . =%.@.>$%+ *$ >$%+ ).$% =4E&,& )&,1%+ ,.& =.1 O$>+ O$EF Q<,(4%+$,4 +1 $*3N ?YY_R3 T/&H/A)A'>*?'A/ N$8%*$6'2 8D0.%DE&$ H+)&>$H+,1+*.% +01+ &,O*4+,E$1F )+ O$>1.%& H4*1&=*&N >$%+ E&, )+ 04D01$,E$ $)H&,&01%$1FN 0$4 )+ .%($,&0H3 -$ @A%01,&>& =.1 $=F%+$ 0&14$E&& )+.0+D&1+N )$1.%&1F )&H&,4F%&& 0+>%+E&+& ($01%&>+N H.)&O&>F%&& @$0>4*$%&G$E&+& H4>.$0+& ($01%&>+ I& &,1+01&,$*+N 0>F)+%&& =%.>+0+*.% )+ 1%$,0=.%1 $>1&@3 ;'8)*'$+6'2 ;&01%&D4E&$ H+)&>$H+,1+*.% B, .%($,&0H =.$1+ O& +f=%&H$1F =%&, >$*>4*$%+$ @.*4H4*4& $=$%+,1 )+ )&01%&D4E&+ >$%+ %+=%+G&,1F @.*4H4* B, >$%+ $>+$ 04D01$,EF 0+ )&01%&D4&+ 4,&O.%HN *$ . >.,>+,1%$E&+ +($*F >4 >+$ =*$0H$1&>F3 -$ @A%01,&>& $=$% H.)&O&>F%& B, HF%&H+$ >.H=$%1&H+,1+*.% .%($,&0H4*4& >.H=$%$1&@ >4 $)4*14*N I& )+ $>++$ >.,>+,1%$E&&*+ 0$,(4&,+ $*+ H+)&>$H+,1+*.% $1&,( @$*.%& H$& H$%& Q+fd )&$G+=$H4* $%+ 4, @.*4H )+ )&01%&D4E&+ *$ @A%01,&>& H$& H&> I& 0+ +*&H&,F H$& *+,1 )+>A1 *$ 1&,+%&R3 ;+>*&,4* O&G&.*.(&> )+=+,)+,1 )+ =%.>+04* )+ BHDF1%A,&%+ ,(* 8( >4=%&,)+ . 0+%&+ )+ =$%1&>4*$%&1FE& H+1$D.*&>+ I& O$%H$>.*.(&>+ Q<,(4%+$,4 +1 $*3N ?YYaDRd - %+)4>+%+$ $D0.%DE&+& )&(+01&@+N =%&, 0>F)+%+$ $>&)&1FE&& ($01%&>+N $ 04=%$O+E+&N H.1&*&1FE&& I& $ O*4f4* 0$,(4&, +,1+%&>q - 14*D4%F%& )+ )&01%&D4E&+ )$1.%&1F 0>F)+%&& 0+>1.%4*4& ]&)%&> Q1.1$* D.)} ~$1+%RN $ H$0+& 0*$D+ Q*+$, D.)} H$00R I& $ $*D4H&,+*.% )+ 1%$,0=.%1 $0.>&$1 >4 >%+I1+%+$ H$0+& (%$0+ QO$1 D.)} H$00Rq - 14*D4%F%& $*+ H+1$D.*&0H4*4& ]+=$1&> )$1.%&1F 0>F)+%&& )+D&14*4& ]+=$1&> I& $ H$0+& ]+=$1.>&1$%+q - %+)4>+%+$ 0+,0&D&*&1FE&& %+>+=1.%&*.% >+ @$ )+1+%H&,$ %F0=4,0 H.)+01 *$ D+1$'D*.>$,1+ I& ]&=.58 +f$(+%$1F Q,+>.,1%$>$%$1F =%&, %+$>E&+ $)%+,+%(&>FR *$ @$0.)&*$1$1.$%+q - 14*D4%F%& $*+ +*&H&,F%&& %+,$*+ =%&, %+)4>+%+$ &%&(F%&& %+,$*+ I& $ ,4HF%4*4& )+ ,+O%.,& O4,>E&.,$*&3 5$D+* "3 #.)&O&>F%& O$%H$>.>&,+1&>+ *+($1+ )+ @A%01F <&)KC*H* +* "/&H/A)C)('* 8D0.%DE&$ 0$4 +O+>14* *$ ,&@+* ($01%.&,1+01&,$*
6)+'"'AF&' +'> WHKF?&p>'&*/ "'Q')C)('AF C,>+1&,&%+$ 1&H=4*4& )+ 1%$,G&1r=$0$k ($01%.&,1+01&,$* =.$1+ =%+*4,(& +O+>1+*+ H+)&>$H+,1+*.% >4 +*&D+%$%+ &,1+01&,$*Fr+,1+%$*F >.,1&,4F ;&0H.1&*&1$1+$ &,1+01&,$*F *+($1F )+
""X
0"*A?* "&*AI*>?* &*(F.'?* W> +'I*&.* /"*AY'@>' 54*D4%F%& >$%+ $*1+%+$GF =l'4* ($01%&> =.1 %+)4>+ $D0.%DE&$ 4,.% H+)&>$H+,1+
#.)&O&>F%&*+
>]&%4%(&>$*+
$*+
8D0.%DE&$ 1%$,0)+%H&>F
;&01%&D4E&$
#+1$D.*&0H4* ]+=$1&>
6f>%+E&$ %+,$*F
#+1$D.*&E& $>1&@& 6O+>1+ $)@+%0+ $,1&>.*&,+%(&>+
.=&.&)+ =.$1+ O& $(%$@$1F *$ @A%01,&>& 2+* H$& $)+0+$ $=$% =4E&,+ H.)&O&>F%& B, $D0.%DE&+ *+($1+ )+ @A%01FN $>+01+$ O&&,) H$& H4*1 B, *+(F14%F >4 )&O+%&1+*+ 1+],.*.(&& )+ =*$014%+ 41&*&G$1+3 2%+I1+%+$ %$=.%14*4& )&,1%+ E+0414* $)&=.0 I& H$0$ >.%=.%$*F 0*$DF =.$1+ >%+I1+ @.*4H4* )+ )&01%&D4E&+ =+,1%4 04D01$,E+*+ 0.*4D&*+ B, (%F0&H&3 /f&)$%+$ +01+ @$%&$D&*F I& =.$1+ )+0>%+I1+ %+G4*1A,) 4, 1&H= )+ B,k4HF1FE&%+ =%+*4,(&13 2.,k4($%+$ )+ .D&>+& +01+ =F01%$1F3 6O+>14* =%&H4*4& =$0$k ]+=$1&> %FHA,+ )+ .D&>+& ,+0>]&HD$13 9.*&H.%O&0H+*+ (+,+1&>+ +,G&H$1&>+ =.1 $O+>1$ 4,+*+ +,G&H+ $*+ >&1.>%.H&*.%3 7$1$ O&*1%F%&& (*.H+%4*$%+ 0>$)+ .)$1F >4 B,$&,1$%+$ B, @A%01F *$ H4*E& =$>&+,E&N %+G4*1A,) . %+)4>+%+ $ +f>%+E&+&3 2*+$%$,>+ %+,$* %+)40 >4 +O+>1 =%+*4,(&1 $* H+1$D.*&E&*.%3 2.,O4G&+ $>>+,14$1FN >.,01&=$E&+N
$,$1.H&+& =.1 %+)4>+ $D0.%DE&$ 4,.% H+)&>$H+,1+ 2F*)4%$ I& $*1+ >$%$>1+%&01&>& 0=+>&O&>+ $*+ 1+],.*.(&+& =*$014%&*.% =.1 $O+>1$ $D0.%DE&$
&,>.,1&,+,EFN 14*D4%F%& H.1.%&&3
$O+>E&4,&& ,+4%.*.(&>+3
P+,+0>+,E$ I& .D+G&1$1+$ =.1 )+1+%H&,$ 4, 1&H= )+ B,k4HF1FE&%+ H$& +O&>&+,1 $* H+)&>$H+,1+*.%3
2&%.G$N ]+=$1&1$N 14H.%&*+ =.1 B,1%+%4=+ .f&)$%+$N )$% )+ .D&>+& ,+$*1+%A,) >.,k4($%+$3
`.$*$ >%.,&>F )+ %&,&>]& =.$1+ =%+)&0=4,+ B, =*40 *$ 1.f&>&1$1+ %+,$*F3 `.$*$ %+,$*F3 2%+I1+%+$ 5"r?3 8>>+,14$1+ )+
H+>$,&0H+*+
5$D+* ?3 #+)&>$H+,1+ %+>.H$,)$1+ B, )4%+%+$ =+%0&01+,1F *$ @A%01,&>& 6*+'A/H*>? 4>/C(*Q'A* >)>)G')'+* 8>+1$H&,.O+,
N)Q/ +* '>'Y'*&* &*A)H/>+/?F S?Z'ZYY H( *$ b .%+ 0$4 ZYY'"YYY H( *$ _ .%+
5%&0$*&>&*$1 )+ >.*&,F H$(,+G&4
ZYY'aZY H( *$ \ .%+
8>&) 0$*&>&*&>
ZYY'aZY H( *$ "? .%+
2+*+>.f&D
9)H*>?/&''
;.G$ H$f&HF .D&I,4&1F b (rG& 7+)4>+%+$ ).G+& H$f&H+ >4 ZY =A,F *$ aZ{ *$ =$>&+,E&& >4 &,04O&>&+,EF ]+=$1&>F 0$4 &01.%&> )+ $D4G )+ $*>..*3 5&H=4* )+ B,k4HF1FE&%+ *4,( =.$1+ =+%H&1+ ).G$%+$ 4,&>F 0$4 )+ ).4F .%&rG&N )4=F $1&,(+%+$ >.,>+,1%$E&+& H$f&H+3 6O+>1 $,1&=*$>]+1$% H&,&H3 -$ =$>&+,E&& O%$(&*& 0$4 *$ >+& >4 O4,>E&+ ]+=$1&>F 0$4 %+,$*F )&H&,4$1FN =.$1+ O& &H=.%1$,1F @+%&O&>$%+$ ,&@+*4*4& )+ 0$*&>&*$E& B, 1&H=4* 1&1%F%&& ).G+*.% I& )4=F .DE&,+%+$ >.,>+,1%$E&+& H$f&H+3 ;.G+*+ H$%& 0+ $0.>&$GF >4 . H$& H$%+ &,>&)+,EF $ +O+>1+*.% $)@+%0+ ($01%.'&,1+01&,$* + I& >$%)&.@$0>4*$%+3 9$>&+,E&& >4 &,)&>$E&+ )+ >$%)&.=%.1+>E&+ +>+0&1F 04=*&H+,1$%+ >4 $0=&%&,Fq @A%01,&>&& @.% +>+0&1$ B, >.,1&,4$%+ =%.1+>E&+ ($01%&>F
"YY H(rG&
"?Y
.,>.H&1+,1F3 #$& H4*1+ 014)&& &,)&>F >F $>+$01F 04D01$,EF $%+ 1.f&>&1$1+ >$%)&.@$0>4*$%F H$& H&>F3 ?YY H( fSrG& J;8 &,)&>F &,]&D$%+$ +O+>14*4& $,1&=*$>]+1$% $* $0=&%&,+& *$ =$>&+,E&& >$%+ 41&*&G+$GF >.,>.H&1+,1 &D4=%.O+, I& $0=&%&,FN )$% &H=.%1$,E$ >*&,&>F $)+@F%$1F %FHA,+ ,++*4>&)$1F3 601+ ,+>*$% )$>F +01+ @$*$D&* ).$% =+,1%4 &D4=%.O+,N 0$4 I& =+,1%4 $*1+ 8:TP3 ZY H( f?rG& 0$4 aZ H(rG& >4 ;$1.%&1F 0+*+>1&@&1FE&& %+*$1&@+ $ &,]&DF%&& 2/y'?N +*&D+%$%+ =%+*4,(&1F $>+01 H+)&>$H+,1 0+ =.$1+ $0.>&$ >4 4, %&0> >$%)&.@$0>4*$% H$& H$%+ >.H=$%$1&@ >4 $*1+ 8:TP >*$0&>+3 " (rG& 5 ž %+*$1&@ *4,( I& $0.>&$GF +O+>1 $,1&=*$>]+1$% H&,&H Q Z G&*+R3 T+%+>.H$,)$13 9.1+,E&$* B,$*1 )+ +O+>1+ $)@+%0+ ($01%.&,1+01&,$*+ I& 1.f&>&1$1+ %+,$*F3 :,$)+>@$1 =+,1%4 41&*&G$%+ =+ 1+%H+, *4,(3
T$=%.f+, 0.)&4
??Y H( f?rG&
:D4=%.O+,
;&>*.O+,$> 0.)&4
T$D4H+1.,+ •+1.%.*$>
3G')'+* l&)%.>.).,
?NZ'Z H( *$ b'_ .%+
/f&>.).,
?NZ'Z H( *$ b'_ .%+
<1&* &, )4%+%+$ $>41FN %+>4%+,1FN +=&0.)&>F 0$4 =+%0&01+,1Fq ).G$ G&*,&>F +01+ *&H&1$1F )+ >.HD&,$E&&*+ O&f+ >4 $>+1$H&,.O+, 0$4 8:TP3 <1&* &, )4%+%+$ $>41FN %+>4%+,1FN +=&0.)&>F 0$4 =+%0&01+,1Fq ).G$ G&*,&>F >4 +*&D+%$%+ &H+)&$1F +01+ *&H&1$1F )+ >.HD&,$E&&*+ O&f+ >4 $>+1$H&,.O+, 0$4 8:TP3
?NZ'"Y H( *$ b .%+
;&0=.,&D&*F B, >.H=%&H$1+ 0$4 0.*4E&+ .%$*F
6*&D+%$%+ =%+*4,(&1F "Z H( *$ \'?b .%+
>.,>+,1%$1FN $>+$01$ )&, 4%HF O&&,) =%+O+%$1F B, +=&0.$)+*+ $>41+ )4%+%.$0+ I& *$ =$>&+,E&& >4 14*D4%F%& )+ )+(*41&E&+3 <1&*&G$%+ )4=F H+)&>$H+,14* >4 +*&D+%$%+ &H+)&$1FN 0$4 B, >$G )+ %.1$E&+ $ .=&.&)+*.%3 C, )4%+%+$ =%.(%+0&@F3 T4 +01+ %+>.H$,)$1F3
#.%O&,$ 6*&D+%$%+ &H+)&$1F
l&)%.H.%O., "'? H( *$ S'b .%+ #+1$).,$ 6*+'A/H*>?* /+]@I/>?* 8,1&)+=%+0&@+ 1%&>&>*&>+ "Y H( *$ >4*>$%+
7&0> 0+H,&O&>$1&@ )+ +O+>1+ $)@+%0+ *$ @A%01,&>& Q$,1&>.*&,+%(&>+R3 7$%+.%& 1.*+%+$GF ).G+ H$& H$%& )+ aZ'"YY H(rG&3
8*1+ $,1&)+=%+0&@+ ;4*.f+1&,$
?Y H(rG&
g+,*$O$f&,$
SaNZ H(rG&
8,1&>.,@4*0&@$,1+ 2$%D$H$G+=&,$
"YY H(rG&
L$D$=+,1&, 9%+($D$*&,
#.,&1.%&G$E& =%+0&4,+$ $%1+%&$*F3 7&0> )+ @+%1&k3 6O+>1+ $04=%$ >.(,&E&+&N H+H.%&+&3 #4*1&=*+ &,1+%$>E&4,& H+)&>$H+,1.$0+3 2%+0> 1+,0&4,+$ $%1+%&$*F I& O%+>@+,E$ >$%)&$>F ).GF')+=+,)+,1+3
"YY H( *$ >4*>$%+ ZY H( *$ >4*>$%+
;+ H.,&1.%&G$1 1%$,0$H&,$G+*+N ]+H.*+4>.(%$H$N >%+$1&,&,$N 4%++$N +*+>1%.*&E&&N ,&@+*4* 0+%&> $* >$%D$H$G+=&,+&3 ;+ H.,&1.%&G$1 0+)$%+$N $1$f&$N +)+H4*3 ;+ H.,&1.%&G$1 0+)$%+$N $1$f&$N +)+H4*3
"ZY H( f?rG&
#.,&1.%&G$%+ 62L B,$&,1+ I& )4=F 01$D&*&G$%+$
8,1&$%&1H&>+ #+f&*+1&,
"?"
).G+*.%3
4C?* H*+'A/H*>?* 2.%1&>.01+%.&G& Q=%+),&0.,N H+1&*=%+),&0.*.,R
-&).>$&,$ Q1.=&>R #&.%+*$f$,1+
Z H( =%+),&0.,
"'S =*$014%& =+,1%4 "? .%+rG& `$>*.O+, 2*.,$G+=$H
Z H( f"'SrG&
<1&*&G$E& ).G$ >+$ H$& H&>F =.0&D&*N =+,1%4 $ =%+@+,& +O+>1+*+ $)@+%0+3 9+ 1+%H+, 0>4%1N $,1&>&=$E& %+1+,E&$ ]&)%&>F I& +O+>1+*+ (*&>+H&>+3 9+ 1+%H+, *4,(N +O+>1+*+ >$%)&.@$0>4*$%+ I& )+H&,+%$*&G$%+$ .0.$0F3 #.,&1.%&G$E& +%&1+H4* I& &%&1$E&&*+ 1+(4H+,1$%+3 #.,&1.%&G$E& O$1&($D&*&1$1+$N O4,>E&$ 4%&,$%FN >.(,&E&$ I& 0+)$%+$3 #.,&1.%&G$E& 0+)$%+$N H+H.%&$N ]+H.*+4>.(%$H$3
YN?Z'YNZ *$ >4*>$%+
2$,$D&,.&G& T$D&*.,
#+)&>$H+,1+ >4 H+>$,&0H )4$* 5%$H$).*
" H( f"'?rG&
#.,&1.%&G$E& $1$f&$N >.(,&E&$N 0+)$%+$3 :,>&)+,EF %&)&>$1F =+,1%4 $H+E+*&N 0.H,.*+,EFN ]&=.1+,0&4,+ .%1.01$1&>F3 6O+>1+ >$%)&.@$0>4*$%+ *$ 1+1%$]&)%.>$,$D&,.* 0$4 >$,$D&)&.*3
"?NZ'?Z H( *$ b'_ .%+
#+>$,&0H H&f1 )+ $>E&4,+d .=&.&) I& &,]&D&1.% $* %+>$=1F%&& 0+%.1.,&,+& 0$4 ,.%+=&,+O%&,+& 3
%D'+@&' +* &*A)H/>+/&* #+)&>&,$ D$G$1F =+ ).@+G&N *$ D$G$ >F%+&$ 01$4 014)&& =.=4*$E&.,$*+ *$%(&N +01+ 04=.%14* (]&)4%&*.% +*$D.%$1+ =+ ,&@+*+ )+ +@&)+,EF I& >*$0+ )+ %+>.H$,)$%+N &,)&>A,) 4, >.,0+,0 )+ .=&,&& $04=%$ 0&(4%$,E+& $)H&,&01%F%&& H+)&>$H+,1+*.%3 5$D+* S3 T&@+*+ )+ +@&)+,EF ,'I*C +* *I'+*>YF T&@+* )+ +@&)+,EF 8 T&@+* )+ +@&)+,EF ` T&@+* )+ +@&)+,EF 2
N*"'>'Y'* ;$1+ =%.@+,&1+ )&, H$& H4*1+ 014)&& >*&,&>+ %$,).H&G$1+ 0$4 H+1$$,$*&G+ ;$1+ =%.@+,&1+ )&,1%'4, 0&,(4% 014)&4 %$,).H&G$1 0$4 H$& H4*1+ 014)&& H$%&N ,+%$,).H&G$1+ 2.,0+,04* )+ .=&,&+ $* +f=+%E&*.% I&r0$4 014)&& H&>&N 014)&& %+1%.0=+>1&@+N %+(&01%+
5$D+* b3 2*$0+ )+ %+>.H$,)$%+ 9C/.* +* &*A)H/>+/&* 2*$0$ : 2*$0$ :: 2*$0$ :::
N*"'>'Y'* ;.@+G& I&r0$4 $>.%)4* 4,$,&H $04=%$ D+,+O&>&4*4& I& +O&>&+,E+& 4,+& =%.>+)4%& )&$(,.01&>+ 0$4 1%$1$H+,1 ;.@+G&*+ 04,1 >.,1%$)&>1.%&& 0$4 +f&01F . )&@+%(+,EF )+ .=&,&+ =%&@&,) 41&*&1$1+$r+O&>$>&1$1+$ 1%$1$H+,14*4& ;.@+G& I&r0$4 $>.%)4* 4,$,&H >F 1%$1$H+,14* ,4 +01+ 41&*r+O&>&+,1N &$% B, 4,+*+ >$G4%& =.$1+ O& >]&$% )F4,F1.%
,)>)G')'+* Q:R 8>+1$H&,.O+,4* $% 1%+D4& >.,0&)+%$1 >$ O$%H$>.1+%$=&+ &,&E&$*F I& )+ >.,1&,4$%+ B, 1%$1$H+,14* )4%+%&& =+%0&01+,1+N B, 0=+>&$* )4%+%+$ H40>4*.0>]+*+1&>FN )$1.%&1F +O&>$>&1FE&& ).@+)&1+ I& =%.O&*4*4& D4, )+ 0&(4%$,EF Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q8R 2.,1%$&,)&>$E&& $D0.*41+d &,04O&>&+,E$ ]+=$1&>F Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3
"??
Q`R 2.,1%$&,)&>$E&& %+*$1&@+ I& =%+>$4E&&d )&0O4,>E&+ ]+=$1&>FN $D4G >%.,&> )+ $*>..* 0$4 )+=+,)+,EF Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q2R T< 1%+D4&+ )+=FI&1+ ).G+*+ H$f&H+ %+>.H$,)$1+ G&*,&> )+ b (r ?b .%+N &,>*4GA,) n04%0+*+ $0>4,0+M =%+>4H >+*+ )&, >.HD&,$E&& Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q::R 8:TP ,+0+*+>1&@+ I& &,]&D&1.%&& 0+*+>1&@& )+ 2/y'? $% =41+$ O& %$%+.%& *4$E& B, >.,0&)+%$%+N I& >4 H$f&HF =%4)+,EFN *$ =+%0.$,+ O.$%1+ $1+,1 0+*+>E&.,$1+ Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q8R P+*+>E&$ =$>&+,E&*.%d $*1+ 1%$1$H+,1+ QH$& 0&(4%+R $4 +I4$1q ,'$4 O.01 .DE&,41+ ).@+G& $*+ >.,1&,4F%&& $1&,(+%&& E&,1+*.% 1+%$=+41&>+q +@$*4$%+$ >.,1&,4F $ %&0>4%&*.% I& >.H=*&>$E&&*.% >.H=+,0$1+ )+ D+,+O&>&&*+ 1+%$=+41&>+ Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q`R 2.,1%$&,)&>$E&& $D0.*41+d D.$*$ 4*>+%.$0F $>1&@F +@.*41&@F Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :RN D.$*$ >%.,&>F )+ %&,&>]& Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :RN &,04O&>&+,E$ >$%)&$>F Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 Q2R 2.,1%$&,)&>$E&& %+*$1&@+ I& =%+>$4E&&d ]&=+%1+,0&4,+$N &,O+>E&$ >4 l+*&>.D$>1+% =}*.%&N &01.%&>4* )+ D.$*F 4*>+%.$0FN 41&*&G$%+$ >.,>.H&1+,1F )+ >.%1&>.01+%.&G& 0$4 PP7: Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q:::R 9+%0.$,+*+ @A%01,&>+ 04D 1%$1$H+,1 >4 8:TP ,+0+*+>1&@+ $% 1%+D4& 0F &$ 4, &,]&D&1.% )+ =.H=F )+ =%.1.,& 0$4 H&0.=%.01.* =+,1%4 =%.1+>E&+ ($01%.'&,1+01&,$*F Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q:gR 9$>&+,E&& 04D 1%$1$H+,1 >4 &,]&D&1.% 0+*+>1&@ )+ 2/y'? I& $0=&%&,F $% 1%+D4& 0F &$ 4, &,]&D&1.% )+ =.H=F )+ =%.1.,& 0$4 H&0.=%.01.* =+,1%4 =%.1+>E&+ ($01%.'&,1+01&,$*F Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 QgR 9$>&+,E&& ,4 $% 1%+D4& 0F &$ H$& H4*1 )+ 4, 8:TP ,+0+*+>1&@ 0$4 4, &,]&D&1.% 0+*+>1&@ )+ 2/y'? =+,1%4 >.,1%.*4* )4%+%&& Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qg:R 9$>&+,E&& >$%+ 4%H+$GF 1%$1$H+,1 >4 $0=&%&,F B, 0>.= >$%)&.=%.O&*$>1&> ,4 $% 1%+D4& 0F 41&*&G+G+ &D4=%.O+, Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 Qg::R 5.E& =$>&+,E&& $O*$E& B, 1%$1$H+,1 >4 8:TP ,+0+*+>1&@+ I& &,]&D&1.%& 0+*+>1&@& )+ 2/y'? $% 1%+D4& +@$*4$E& )+ %41&,F =+,1%4 1.f&>&1$1+ ($01%.'&,1+01&,$*F I& %+,$*FN ]&=+%1+,0&4,+N &,04O&>&+,EF >$%)&$>FN I& $*1+ &,1+%$>E&4,& &,1+%H+)&>$H+,1.$0+ I& H+)&>$H+,1 e $O+>E&4,+ Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 3G')'+* Qg:::R 5.E& =$>&+,E&& >4 )4%+%+ H.)+%$1F 0$4 0+@+%FN >4 $*1+%F%& O4,>E&.,$*+ *+($1+ )+ )4%+%+N 0$4 >4 )&H&,4$%+$ >$*&1FE&& @&+E&& )$1.%&1F )4%+%&&N $% 1%+D4& &,1%.)4I& =+ 1+%$=&+ .=&.&)F Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Q:yR 9$>&+,E&& >4 )4%+%+ >4 >$%$>1+% O%+>@+,1 0$4 >.,1&,44N >4 $=$%&E&+ G&*,&>F =.1 O& 1%$1$E& =%&, 1$1.,$%+$ ).G+*.% $@A,) >$ 0>.= .DE&,+%+$ 4,4& +>]&*&D%4 B, 41&*&G$%+$ 1+%$=&+& .=&.&)+ Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 QyR 2*&,&>&+,&& $% 1%+D4& 0F $,1&>&=+G+N 0F +@$*4+G+ I& 0F &)+,1&O&>+ +O+>1+*+ $)@+%0+ =.1+,E&$*+ $0.>&$1+ .=&.&)+*.% Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qy:R T4 $% 1%+D4& )+=FI&1+ ).G+*+ H$f&H+ 0&(4%+ )+ $>+1$H&,.O+, 0$4 8:TP B, >$G4* 41&*&GF%&& >.HD&,$E&+& ).GF'O&fF )+ $(+,E& .=&.&G& >$ =$%1+ $ 1%$1$H+,14*4& $,$*(+G&> Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3
"?S
Qy::R C, >$G4* =%+0>%&=E&+& )%.(4%&*.% .=&.&)+ >4 $>E&4,+ *4,(FN $% 1%+D4& $,1&>&=$1FN +@$*4$1F I& =%+@+,&1F 0$4 1%$1$1F =%.(%+0&$ )4%+%&& 41&*&GA,) H+)&>$E&+ .=&.&)F >4 $>E&4,+ 0>4%1F I& +*&D+%$%+ &H+)&$1F Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qy:::R ;.$% >*&,&>&+,&& >4 +f=+%&+,EF B, 41&*&G$%+$ I& H$,$(+H+,14* %+$>E&&*.% $)@+%0+ *$ H+1$).,F $% =41+$ &,&E&$ 1%$1$H+,14* >4 $>+01 H+)&>$H+,1 I& 0F'* 1&1%+G+ >4 =%+>$4E&+ Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qy:gR 9$>&+,E&& $O*$E& B, 1%$1$H+,1 >4 $,$*(+G&>+ .=&.&)+ $% 1%+D4& %++@$*4$E& =+,1%4 H+,E&,+%+$ =+%H$,+,1F $ .D&+>1&@+*.% 1+%$=+41&>+N H.,&1.%&G$%+$ +O+>1+*.% $)@+%0+N 0&(4%$,E$ I& 41&*&G$%+$ >4 %+0=.,0$D&*&1$1+ $ H+)&>$E&+& Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 6*+'A/H*>?* />/C(*Q'A* /+]@I/>?* QygR 5.E& =$>&+,E&& >4 )4%+%+ ,+4%.=$1F $4 &,)&>$E&+ =+,1%4 $,$*(+G&>+ $)k4@$,1+ Q,&@+* 8 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qyg:R 9$>&+,E&& >4 O&D%.H&$*(&+ 04,1 >$,)&)$E& *$ . B,>+%>$%+ )+ 1%$1$H+,1 >4 $,$*(+G&>+ $)k4@$,1+ $=%.D$1+ Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qyg::R 9$>&+,E&& >4 $*1+ 1&=4%& )+ )4%+%+ =+%0&01+,1F %+O%$>1$%F =.1 $@+$ &,)&>$E&+ )+ $,4H&1+ $,$*(+G&>+ $)k4@$,1+ Q+f3d )4%+%+ ).%0$*FN >+O$*++N )4%+%+ .0.$0F )&O4GFN )&0O4,>E&+ 1+H=.%.' H$,)&D4*$%FR Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 Qyg:::R 8,1&)+=%+0&@+*+ 1+%E&$%+ 1%&>&>*&>+ Q$H&1%&=1&*&,$N &H&=%$H&,$N ).f+=&,R $% 1%+D4& +@&1$1+ )$1.%&1F %&0>4*4& H$& H$%+ )+ +O+>1+ $)@+%0+ Q+f3d +O+>1+ $,1&>.*&,+%(&>+N $*1+%$%+ >.(,&1&@FR Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qy:yR 8(+,E&& =.1 O& 41&*&G$E& &,)&@&)4$*N )$% $)+0+$ +O+>1+*+ 04,1 =.1+,E$1+ $14,>& >A,) 04,1 41&*&G$1+ B, >.HD&,$E&+ >4 $*1+ $,$*(+G&>+ I& 01%$1+(&& ,+H+)&>$H+,1.$0+ Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 QyyR 5+%$=&$ $% 1%+D4& &,&E&$1F >4 >+$ H$& H&>F ).GF =.0&D&*F I& 0F O&+ >%+0>41F 4I.% D$GA,)4' ,+ =+ %F0=4,0 I& +O+>1+ $)@+%0+N >4 =%+>&G$%+$ >F 4,&& $(+,E& =%+G&,1F . &,01$*$%+ B,1A%G&$1F $ $>E&4,&& &$% D+,+O&>&&*+ 1+%$=+41&>+ $=$% *+,13 ;+ +f+H=*4N ($D$=+,1&, =.$1+ ,+>+0&1$ ? =A,F *$ S 0F=1FHA,& =+,1%4 &,01$*$%+$ +O&>$>&1FE&& Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qyy:R / B,>+%>$%+ 1+%$=+41&>F $)+>@$1F $% 1%+D4& >.,)40F B,$&,1+ )+ )&0>.,1&,4&1$1+$ 4,4& 1%$1$H+,1 $=$%+,1 &,+O&>$>+ Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 4C?* H*+'A/H*>?* Qyy::R 2.%1&>.1+%$=&$ 0&01+H&>F >4 $>E&4,+ *4,(F $% 1%+D4& 0F O&+ )+ %+G+%@F =+,1%4 =$>&+,E&& >4 )4%+%+ $0.>&$1F $O+>E&4,&*.% &,O*$H$1.%&& 0$4 )4%+%&& .0.$0+ H+1$01$1&>+3 /01+.$%1%&1$ ,4 $% 1%+D4& >.,0&)+%$1F . $O+>E&4,+ &,O*$H$1.%&+ Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qyy:::R 5.E& =$>&+,E&& >4 )4%+%+ ,+4%.=$1&>F *.>$*&G$1F 04,1 >$,)&)$E& *$ $)H&,&01%$%+$ 1.=&>F )+ *&).>$&,F Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :R3 Qyy:gR 9$>&+,E&& >4 )4%+%+ ,.,',+4%.=$1&>F *.>$*&G$1F =.1 O& >$,)&)$E& *$ $)H&,&01%$%+$ 1.=&>F )+ *&).>$&,F Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 QyygR 5.E& =$>&+,E&& >4 $*1F )4%+%+ =+%0&01+,1F ,.,',+4%.=$1&>F *.>$*&G$1F =.1 O& >$,)&)$E& =+,1%4 $)H&,&01%$%+$ 1.=&>F )+ 8:TP Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 Qyyg:R 8*E& $(+,E& 1.=&>&N &,>*4GA,) >$=0$&>&,$ 0$4 H+,1.*4*N =.1 O& *4$E& B, >.,0&)+%$E&+ B, >$G4* 0&,)%.$H+*.% $*(&>+ %+(&.,$*+ Q,&@+* ` )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 Qyyg::R / H4*1&14)&,+ )+ $*E& $(+,E& 41&*&G$E& B, 0&,)%.$H+ )4%+%.$0+ 0=+>&O&>+ &H=*&>F . $1+,E&+ )+.0+D&1F *$ @A%01,&>& I& ,+>+0&1F >+%>+1F%& 4*1+%&.$%+ Q+f3d (*4>.G$H&,FN >.,)%.&1&,N
"?b
>$,$D&,.&G&N 1.f&,F D.14*&,&>FN $(.,&I1& $*O$'? $)%+,+%(&>&N >$*>&1.,&,FN @&1$H&,F ;N D&O.0O.,$E&N j+1$H&,FR Q,&@+* 2 )+ +@&)+,EFN %+>.H$,)$%+ >*$0$ :::R3 5$D+* Z3 6f+H=*+ )+ 0&,)%.$H+ >$%$>1+%&G$1+ =%&, )4%+%+ ,+4%.=$1&>F ;*Q'@>' ")A/C* k' H@C?'")A/C* /C* .'.?*H@C@' >*&I). G*&'"*&'A T+@%$*(&$ =.01']+%=+1&>F T+@%$*(&&*+ >%$,&+,+ Q+f3d ,+@%$*(&$ )+ 1%&(+H+,N )+ (*.0.O$%&,(&$,R #.,.,+4%.=$1&$ )&$D+1&>F P&,)%.$H+*+ )+ >.H=%+0&4,+ ,+%@.$0F 9*+f.=$1&$ H$*&(,F 0$4 =.01'&%$)&+%+ ;4%+%+$ H+HD%+*.% oO$,1.HFo T+@%$*(&$ =.01'1%$4H$1& >F Q)+ 1&=4* >.H=%+0&4,&& %F)F>&,&*.% ,+%@.$0+N =.01'1.%$>.1.H&+R T+4%.=$1&$ &0>]+H&>F <)C'>*@&)G/?'' (*>*&/C'Q/?* /"*A?p>+ .'.?*H@C >*&I). G*&'"*&'A U()2$%&'/(s"+)*'6'%"2&( e )&$D+1 G$]$%$1N $H&*.&).G$N =+*$(%$N D.$*$ D+%&'D+%&N )+O&>&+,E+ ,41%&E&.,$*+ H4*1&=*+N ]&=.1&%.&)&0H J%<'/( e $*>..*N =*$1&,$N>]&H&.1+%$=&>+ Q.%1$f$,&RN &G.,&$G&)$N $(+,E& $,1&%+1%.@&%$*& P"=(/6'%28(s2+)%'9+"( e &,O+>E&+ l:gN =.*&,+4%.=$1&+ &,O*$H$1.%&+ $>41F Q0&,)%.H L4&**$&, ' `$%%‡RN ,+4%.D.%+*&.G$ Q0&,)%.H4* `$,,~$%1]R Y*(1')2*( e D.$*$ J$D%} U2&'A"( e >$%>&,.H$1.G$ N&)(&( e ,+4%.=$1&$ &)&.=$1&>F ;*Q'@>' /C* .'.?*H@C@' >*&I). A*>?&/C -+G&4,& H+)4*$%+ 9%.*$=0 )&0>$* 8>>&)+,1 @$0>4*$% Q>+%+D%$* 0$4 H+)4*$%R P>*+%.G$ H4*1&=*F `.$*$ 9$%j&,0., -+G&4,& >]&%4(&>$*+ Q%&G.1.H&+N >.%).,.1.H&+R ,*@&)G/?'' A)HGC*U* P&,)%.$H+*+ )+ )4%+%+ %+(&.,$*+ )+ 1&= : 0& ::
5$D+* _3 6O+>1+ $)@+%0+ O%+>@+,1+ $*+ $(+,E&*.% )+ =%&HF *&,&+ 41&*&G$E& B, 1%$1$H+,14* )4%+%&& ,+4%.=$1&>+ 4>?'+*G&*.'I* ?&'A'AC'A* B/H'?&'G?'C'>/V >)&?&'G?'C'>/V +*.'G&/H'>/E P.H,.*+,EF 2.,O4G&+ <0>F>&4,+$ H4>.$0+& D4>$*+ l&=.1+,0&4,+ .%1.01$1&>F 2%+I1+%+ =.,)+%$*F 7+1+,E&+ )+ 4%&,F C, >$G4* =$>&+,E&*.% >4 @A%01$ =+01+ bY )+ $,& 0+ %+>.H$,)F +O+>14$%+$ >$ 0>%++,&,( $ 4,+& +*+>1%.>$%)&.(%$H+ 4>?'A)>I@C.'I/>?* tliM B(/K/G*>?'>V G&*(/K/C'>E P.H,.*+,EF g+%1&kN 14*D4%F%& )+ H+%0 I& >.(,&1&@+ 6)+H+ =+%&O+%&>+
"?Z
7>D'K'?)&'' &*A/G?F&'' .*&)?)>'>*' k' >)&*G'>*"&'>*' B+@C)U*?'>/V I*>C/"/U'>/E L%+$EF g+%1&k <0>F>&4,+$ H4>.$0+& D4>$*+ ;&0O4,>E&& 0+f4$*+
5$D+* a3 7+>.H$,)F%& 1+%$=+41&>+ =%&@&,) )4%+%+$ ,+4%.=$1&>F 9C/./
4>?'+*G&*.'I* 5%&>&>*&>+ Q,.%1%&=1&*&,$N )+0&=%$H&,$N $H&1%&=1&*&,$N &H&=%$H&,$R
;'>'/
P/C)/&*/ ,,[
P/C)/&*/ ,,5
G*>?&@ *UAC@+*&*/ +'> .?@+'@ B'>?*&I/CE
G*>?&@ )KY'>*&*/ @>*' /H*C')&F&' +* nru
"bNa Q"YN? ' ?ZN?R
?N"r?NZrSN" Q"r\ ' SNaR
7&0> %+*$1&@ ,+0+H,&O&>$1&@ 7&0> %+*$1&@ ,+0+H,&O&>$1&@ 7&0> %+*$1&@ ,+0+H,&O&>$1&@
bN"rZN? Q?NX ' \NZR
;4*.f+1&,$
C,1A& 0$4 $ ).4$
?Z ' "ZYq =%+O+%$1+ $,1&)+=%+0&@+*+ 1%&>&>*&>+ >4 (%4=F%& $H&,&>+ 0+>4,)$%+ Q,.%1%&=1&*&,$N )+0&=%$H&,$R _Y'"?Y
g+,*$O$f&,$
C,1A& 0$4 $ ).4$
"ZY'??Z
9$%.f+1&,$N >&1$*.=%$HN D4=%.=&., 4>?'A)>I@C.'I/>?*
8 1%+&$
9%+($D$*&,
C,1A&
"ZY'_YY
""Na Q\NS ' "XNXR
bN?rbNX QSNa ' aN_R
L$D$=+,1&,
C,1A&
"?YY'S_YY
"aN\ Q"? ' SYR
brbNb QSNS ' _N"R
2$%D$H$G+=&,$
C,1A& Q,4H$& =+,1%4 ,+@%$*(&$ )+ 1%&(+H+,R 8 ).4$r $ 1%+&$
?YY'"?YY
?"Na Q"?N_ ' a\NZR
?NY Q"NS ' ?N?R
7&0> %+*$1&@ ,+0+H,&O&>$1&@ 7&0> %+*$1&@ ,+0+H,&O&>$1&@
bNX QSNZ ' \N"R
-$H.1%&(&,$ /f>$%D$G+=&,$
C,1A&
N)Q/ BH(RQ'E G*>?&@ H*>Y'>*&*/ A)>?&)C@C@'
?YY'bYY *+,1FR _YY'"\YY
Q1&1%$%+
bN_ Q?NX ' "YN_R _N\ QSNb ' bb"R
5.=&%$H$1 g$*=%.$1
8 ).4$ Q).$% =+,1%4 ,+@%$*(&$ )+ 1%&(+H+,R 8 1%+&$ 8 1%+&$
?YY'bYY " YYY
_NS QZ ' \R 7&0> %+*$1&@ ,+0+H,&O&>$1&@
aNb QbNS ' ?\R ?N\ Q?N" ' bN?R
3G')'+* /f&>.).,
8 ).4$r $ 1%+&$
"Y'"?Y
7&0>
%+*$1&@
?N_ Q"NX ' bN"R
#.%O&,$
8 ).4$r $ 1%+&$
"Z'SYY
?NZ Q"NX ' SNbR
5%$H$).* #+1$).,$ 4C?*C* -&).>$&,F 1.=&> Q=*$014%+ Z{N (+*R
8 ).4$r $ 1%+&$ 8 ).4$r $ 1%+&$
?YY'bYY "Z
,+0+H,&O&>$1&@ 7&0> %+*$1&@ ,+0+H,&O&>$1&@ X Q_NY ' "aNZR T4 0+ $=*&>F
C,1A& 0$4 $ ).4$ Q).$% =+,1%4
"'S =*$014%&rG& $=*&>$E& =+,1%4 "?
7&0> %+*$1&@ ,+0+H,&O&>$1&@
"?_
T4 0+ $=*&>F
SNXrbN\ Q?N_ ' ?_NXR T4 0+ $=*&>F bNb Q?NZ ' "aNZR
2$,$D&,.&G&
$O+>1F%& *.>$*&G$1+N ,+4%.=$1&+ O.>$*FR 8 1%+&$
2$=0$&>&,$1.=&>
8 1%+&$
.%+
Z'"Z
7&0> %+*$1&@ ,+0+H,&O&>$1&@ ""NZ Q\N" ' "XN\R
XNZ QbN" ' ŸR _Na QbN_ ' "?R
TTl Q,4HD+% ,++)+) 1. ]$%HR ,4HF% )+ =$>&+,E& >+ $4 +f=+%&H+,1$1 +O+>1+ $)@+%0+ =+,1%4 $ &H=4,+ %+1%$(+%+$ 4,4& 04D&+>1 )&, 014)&4 TT5 Q,4HD+% ,++)+) 1. 1%+$1R ,4HF% )+ =$>&+,E& ,+>+0$% $ O& 1%$1$E& =+,1%4 $ .DE&,+ . $H+*&.%$%+ )+ ZY{ O$EF )+ ,&@+*4* &,&E&$* Q,4HF% )+ =$>&+,E& ,+>+0$% $ O& 1%$1$E&R g$*.$%+$ >.HD&,$1F $ TTl 5$D+* \3 7+>.H$,)F%& 1+%$=+41&>+ =+,1%4 )4%+%+$ ,+4%.=$1&>F >+,1%$*F Q$)$=1$1F )4=F *&1+%$14%$ )+ 0=+>&$*&1$1+ $>14$*FR 9C/./R/(*>?@C ?*&/G*@?'A
;'>'/
8,1&)+=%+0&@+ 5%&>&>*&>+ Q$H&1%&=1&*&,$R
C,1A& 0$4 $ ).4$
:,]&D&1.%& $& %+>$=1F%&& 0+%.1.,&,+& I& ,.%+=&,+O%&,+& Q)4*.f+1&,$N @+,*$O$f&,$R 8,1&>.,@4*0&@$,1+ 9%+($D$*&, L$D$=+,1&, -$H.1%&(&,$ g$*=%.$1 /=&.&)+” -+@.%=]$,.* 8*1+*+ 2$,$D&,.&G& #+f&*+1&,$
C,1A& 0$4 $ ).4$
C,1A& 0$4 $ ).4$ C,1A& 0$4 $ ).4$ C,1A& 0$4 $ ).4$ Q)4%+%+$ =.01 8g2R 8 1%+&$ ”8 ).4$ 0$4 $ 1%+&$ Q,4 0+ 0=+>&O&>FR 8 ).4$ QB, 0>*+%.G$ H4*1&=*FR 8 1%+&$
2*A)H/>+F&' /C* ?&/?/H*>?@C />/C(*Q'A G*>?&@ [email protected]'A'@>*/ +* +@&*&* C/ Ip&.?>'A'' A@ +'."@>AY'* A)(>'?'IF 7+>4,.$I1+%+$ =%+G+,E+& 4,4& 0&,)%.H $*(&>N )&$(,.01&>4* I& +@$*4$%+$ &,1+,0&1FE&& )4%+%&&N =%+>4H I& $ %+G4*1$1+*.% H$,$(+H+,14*4& $>+01+&$ 0.*&>&1F +f=+%&+,E$ >*&,&>&$,4*4& B, 0=+>&$* *$ =$>&+,E&& ,.,'@+%D$*&N =%+>4H >+& >4 $>>&)+,1 @$0>4*$% >+%+D%$* $>41 0$4 0+>]+*$%N 0$4 >4 )&0O4,>E&& >.(,&1&@+ )+ (%$)+ @$%&$D&*+3 h&,1$ H+1.)+*.% 41&*&G$1+ =+,1%4 %+)4>+%+$ )4%+%&& +01+ )+ O$=1 $H+*&.%$%+$ >$*&1FE&& @&+E&& $>+01.% >$1+(.%&& )+ =$>&+,E&3 7+>.H$,)F%&*+ E&, >.,1 )+ . 0+%&+ )+ >.,)&E&& I& >.H=.%1$H+,1+ *$ )4%+%+ 0$4 &,)&>$1.$%+ )+ )4%+%+ $*+ =$>&+,E&*.% Ql+%%N ?YY_R3 :3 :,&E&$E& 4, 1%$1$H+,1 $,$*(+G&> +H=&%&>N )$>F +01+ =%+G+,1F 4,$ )&, >.,)&E&&*+ 4%HF1.$%+d 2.,)&E&& =$1.*.(&>+ +f&01+,1+ 040>+=1&D&*+ 0F =%.@.$>+ )4%+%+ o P4,1 =%.(%$H$1+ =%.>+)4%& >$=$D&*+ 0F =%.)4>F )4%+%+ o o 2.H=.%1$H+,1+*+ 04(+%+$GF )4%+%+$N =+ D$G$ 0>.%4%&*.% 4,.% &,01%4H+,1+ .D0+%@$E&.,$*+ $04=%$ )4%+%&& Q982P-82N 98:T8;R o 2.H=.%1$H+,1+*+ *$ )4%+%+ >.,1&,4F I& )4=F H$,$(+H+,14* >$4G+& )4%+%&&
"?a
o
o o
::3
o
o
o
o
o
o
2.H=.%1$H+,1+*+ *$ )4%+%+ >.,1&,4F I& )4=F +@$*4$%+$ ,+>+0&1FE&*.% D$G$*+ I& &H=*+H+,1$%+$ HF04%&*.% )+ >.HO.%1 P$4 >.H=.%1$H+,1+ &,)&>$1.$%+ )+ )4%+%+ 8*1+%,$1&@+*+ 1+%$=+41&>+ H+)&>$H+,1.$0+ 0+H,$*+$GF )4%+%+ >%.,&>F $,1+%&.$%F 0$4 >.H=.%1$H+,1+ &,)&>$1.$%+ )+ )4%+%+3 80&(4%$E& 1%$1$H+,14* $,$*(+G&> I& 1&1%$%+$ ).G+*.% $)+>@$1F &,1+,0&1FE&& +01&H$1+ $ )4%+%&& B, >.,)&E&&*+ H+,E&.,$1+N B, O4,>E&+ )+ &01.%&>4* $,$*(+G&> I& )+ +@$*4$%+$ $,1+%&.$%F3 ;4%+%+ 4I.$%F e H.)+%$1F o 8,$*(+G&>+ ,.,'.=&.&)+ =.1 O& $)H&,&01%$1+ &,&E&$* o 6f3d $>+1$H&,.O+, ZYY e "YYY H( *$ _ .%+ 1&H= )+ ?b .%+ ;$>F >.H=.%1$H+,14* 0+ $H+*&.%+$GF Q).>4H+,1$1 =%&, &,01%4H+,1+ )+ +@$*4$%+ .D0+%@$E&.,$*FRN 0+ =.$1+ =%+04=4,+ >F )4%+%+$ $ O.01 >$4G$ I& 0+ >.,1&,4F 1%$1$H+,14* $,$*(+G&>N OF>A,) $=+* I& *$ $*1+ &,1+%@+,E&& ,.,'O$%H$>.*.(&>+ $)+>@$1+ >.,)&E&+& =$>&+,14*4&3 ;$>F >.H=.%1$H+,14* >$%+ 04(+%+$GF )4%+%+$ >.,1&,4F Q&$% 0>.%4%&*+ *$ &,01%4H+,1+*+ )+ +@$*4$%+ .D0+%@$E&.,$*F %FHA, ,+0>]&HD$1+RN 0+ &$ B, >.,0&)+%$%+ . 4,&>F ).GF %+)40F )+ .=&.&) >4 $>E&4,+ 0>4%1F Q+f3d ]&)%.>.).,N .f&>.)., 0$4 H.%O&,FR I& 0+ H.,&1.%&G+$GF +O+>14* $>+014&$3 ;$>F ,4 0+ B,%+(&01%+$GF ,&>& . 0>]&HD$%+ $ >.H=.%1$H+,14*4& QI& ,&>& . H.)&O&>$%+ $ 0>.%4%&*.% &,01%4H+,1+*.% )+ +@$*4$%+ .D0+%@$E&.,$*FR B, )+>4%0 )+ ?b .%+N 0+ 1&1%+$GF ).G$ >%+0>F1.% >4 ?Z{ =A,F *$ ZY{ I& 0+ .D0+%@F +O+>1+*+3 P+ >.,1&,4F 1&1%$%+$ >%+0>F1.% =A,F *$ .D0+%@$%+$ +O+>14*4& 1+%$=+41&>N 0$4 $=$%&E&$ )+ +O+>1+ $)@+%0+ ,+).%&1+ 0$4 B, $D0+,E$ .%&>F%4& D+,+O&>&4 1+%$=+41&>3 6f=*.%$E& $*1+ >$4G+ =.1+,E&$*+ )$>F >.H=.%1$H+,14* >.,1&,4F )4=F . 0>]+HF 1+%$=+41&>F $,$*(+G&>F >.%+>1 >.,)40F3
0I/C@/&*/ +@&*&'' C/ G/A'*>Y'' Ip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f&01F H$& H4*1+ &,01%4H+,1+ )+ HF04%$%+ $ 0+@+%&1FE&& )4%+%&& *$ @A%01,&>&& >4 )+H+,EFN >4 =4,>1+ 1$%& I& *&H&1+ Ql+%%N ;+>j+%N “ `k.%.N ?YY_R3 80.>&$E&$ )&%+>1.%&*.% H+)&>$*& $H+%&>$,& $ $=%.D$1 0>$*$ 98:T8; Q9$&, 800+00H+,1 &, 8)@$,>+) ;+H+,1&$ P>$*+R Qx$%)+,N l4%*+}N “ g.*&>+%N ?YYSR3
"?\
8H+%&>$, P.>&+1} O.% 9$&, #$,$(+H+,1 T4%0&,(t0 5$0j J.%>+ %+>.H$,)F . $D.%)$%+ >.H=%+]+,0&@FN &+%$%]&>F B, +@$*4$%+$ )4%+%&& *$ =$>&+,E&& ,.,'@+%D$*&N >$%+ &,>*4)+ H$& H4*1+ +1$=+d o C,1%+D$E& =$>&+,14* >4 )+H+,EF $04=%$ 0+,G$E&+& )4%+%.$0+3 2+& >4 )+H+,EF 4I.$%F 0$4 H.)+%$1F =.1 %F0=4,)+ *$ B,1%+DF%& 0&H=*+ )+0=%+ )4%+%+$ %+0&HE&1F3 o <1&*&G$E& 4, &,01%4H+,1 01$,)$%)&G$1 )+ +@$*4$%+ $ &,1+,0&1FE&& )4%+%&&N =%+>4H 0>$*$ )+ +@$*4$%+ ,4H+%&>F Q,4H+%&>$* %$1&,( 0>$*+ T7PR >4 0>.% )+ *$ Y e "YN 0$4 . 0>$*F )+0>%&=1&@F @+%D$*F Q@+%D$* )+0>%&=1.% 0>$*+ g;PR Ql+%%N 2.},+N +1 $*3N ?YY_R3 P>$*$ g;P &,@&1F =$>&+,E&& 0F $*+$(F 4, >4@A,1 >$%+ )+0>%&+ >+* H$& D&,+ 01$%+$ =%+G+,1F )+ )4%+%+ Q+3f3d OF%F )4%+%+N =A,F *$ >+$ H$& 0+@+%F )4%+%+ &H$(&,$D&*FRN =41A,) $@+$ . O&$D&*&1$1+ H$& H$%+ )+>A1 0>$*$ T7P *$ =+%0.$,+*+ @A%01,&>+ >4 )+H+,EF3 <1&*&G$E& 4, &,01%4H+,1 .D0+%@$E&.,$* Q98:T8:;R =+,1%4 $ HF04%$ =%+G+,E$ )4%+%&& *$ o @A%01,&>&& >4 )+H+,EF3 o C,1%+D$E& O$H&*&$ 0$4 =+%0.$,+*+ >$%+ =$%1&>&=F *$ B,(%&k&%+$ =$>&+,14*4& )$>F >.H=.%1$H+,14* =$>&+,14*4& 0'$ H.)&O&>$1 Q+f3d E&=FN 01$%+ )+ $(&1$E&+N &,0.H,&+R3 8>+$01F H.)&O&>$%+ =.$1+ 0+H,$*$ +f&01+,E$ )4%+%&&3 o ;$>F 0+ 040=&>&.,+$GF +f&01+,E$ )4%+%&&N $@+E& B, @+)+%+ 4, 1%$1$H+,1 )+ 0>4%1F )4%$1F >4 4, H+)&>$H+,1 $,$*(+G&> $)+>@$1 I& B, ).GF >.%+>1F3 :,@+01&($E& B, $HF,4,1 0>]&HD$%+$ )+ >.H=.%1$H+,1 =+,1%4 $ +*&H&,$ $*1+ >$4G+3 <1&*&G$E& $41.'%$=.%1$%+$ I& HF04%$%+$ .D0+%@$E&.,$*F $ )4%+%&& =+,1%4 $ +@$*4$ )4%+%+$ B,$&,1+ I& )4=F $)H&,&01%$%+$ )+ $,$*(+G&>+3 5$D+* X3 P>$*$ )+ +@$*4$%+ $ )4%+%&& B, )+H+,E$ 0+@+%F Q98:T8; e 9$&, 800+00H+,1 &, 8)@$,>+) ;+H+,1&$ P>$*+R 0C*H*>? 7+0=&%$E&$ +01+ &,)+=+,)+,1F )+ @.>$*&G$%+ g.>$*&G$%+ ,+($1&@F
r T.%H$*
h />$G&.,$* %+0=&%$E&$ +01+ )&O&>&*F3 P>4%1+ =+%&.$)+ )+ ]&=+%@+,1&*$E&+3
l 7+0=&%$E&+ )&O&>&*F I& G(.H.1.$0F3 9+%&.$)+ *4,(& )+ ]&=+%@+,1&*$E&+3 7+0=&%$E&& 2]+},+'P1.j+03
JF%F
6f=%+0&$ O$>&$*F -&HD$k4* >.%=4*4&
cAHD&1.$%+r &,+f=%+0&@F 7+*$f$1
/>$G&.,$* (+H+ 0$4 040=&,F3 ;&0>4%0 ' ,&@+* 0>FG41N )+ >$*&1$1+ ,+($1&@Fr)+G$=%.D$,1F3 5%&013 P=+%&$13 C,>%4,1$1
2]+HF%& %+=+1$1+N $(&1$1+3 L+H+ 0$4 040=&,F =41+%,&>3 9*A,(+ QE&=F1R L%&H$0F
C,>.%)$13 8O*$1 B, 01$%+ )+ )&O&>4*1$1+3 8(&1$E&+ H.1.%&+3
2.,0.*$%+
T4 ,+>+0&1F
7&(&)3 94H,& B,>*+I1$E&3 L+,4,>]&& %&)&>$E& *$ =&+=13 5%$(+N BH=&,(+3 :GD+I1+N *.@+I1+3 :H=.0&D&* )+ $ O& >.,0.*$1N 14*D4%$1 0$4 >$*H$13
54*D4%$1 0$4 >$*H$1 )+ @.>+ 0$4 $1&,(+%+3
!A)&
98:T8; +01+ 4, &,01%4H+,1 .D0+%@$E&.,$* >+,1%$1 =+ Z +*+H+,1+3 P>.%4* 1.1$* @$%&$GF B,1%+ Y I& "YN D$GA,)4'0+ =+ . 0>$*F )+ *$ Y *$ ? =+,1%4 O&+>$%+ >$1+(.%&+3 2+* H$& B,$*1 0>.% &,)&>F )4%+%+$ )+ >+$ H$& H$%+ &,1+,0&1$1+ +@&)+,E&$1F =%&, +*+H+,1+ ,.,'@+%D$*+ QY e $D0+,E$ )4%+%&&N "Y e )4%+%+ 0+@+%FR3 :,01%4H+,1+*+ )+ +@$*4$%+ .D0+%@$E&.,$*F $ )4%+%&& 0+ 41&*&G+$GF B, >$G4* @A%01,&>&*.% >4 )&0O4,>E&+ >.(,&1&@FN $>+01+$ ,+=41A,) O& +@$*4$E& =+ D$G$ >]+01&.,$%+*.% >*$0&>+3
"?X
6@$*4$%+$ )4%+%&& *$ $>+I1& =$>&+,E& +01+ +0+,E&$*F $1A1 B, >$G4* 0=&1$*&GF%&*+ B, 0>.= )+ %+>4=+%$%+ >A1 H$& $*+0 B, 4%(+,E+3 P>$*$ 98:T8; $%+ . O&$D&*&1$1+ >+,1%$*F >$%+ @$%&$GF )+ *$ YNZY Q=+,1%4 +@$*4$%+$ >.H=.%1$H+,14*4& B, %+=$40R *$ YN_a Q*$ +@$*4$%+$ >.H=.%1$H+,14*4& B, >4%04* $>1&@&1FE&*.% ,+=*F>41+ )+ B,(%&k&%+R3 2.,>.H&1+,1N @$*&)&1$1+$ 0>$*+& +01+ H.)+%$1FN O&&,) )+=+,)+,1F )+ 01$%+$ )+ %+=$40 0$4 )$>F =$>&+,14* +01+ &H=*&>$1 B, $>1&@&1FE& =*F>41+ 0$4 ,+=*F>41+ Q% YNa_ e YNXZR3 6/>/(*H*>?@C >)>"/&H/A)C)('A /C +@&*&'' 9+%0.$,+*+ >4 )4%+%+ =+%0&01+,1F 1%F&+0> 4, )&0>.HO.%1 >.,1&,44N >.,O%4,1A,)4'0+ B, $>+*$I& 1&H= >4 O%401%F%& H4*1&=*+N )&O&>4*1$1+$ .DE&,+%&& H+)&>$E&+& $)+>@$1+N I& >]&$% 0>+=1&>&0H I& 040=&>&4,+ )&, =$%1+$ $,14%$k4*4&3 ;4%+%+$ %+=%+G&,1F 4, >.H=*+f &,O&,&1N $*+ >F%+& )&H+,0&4,& 1%+D4&+ B,E+*+0+ )+ >F1%+ =%$>1&>&+,& I& >.%.D.%$1+ >4 04D&+>1&@&0H4* I& 01&H$ )+ 0&,+ $ =$>&+,E&*.%3 5+%$=&&*+ ,.,O$%H$>.*.(&>+ $4 O.01 >4=%&,0+ B, (]&)4%&*+ $,1+%&.$%+ $*+ 8LP QP.>&+1$1+$ 8H+%&>$,F )+ L+%&$1%&+R =%&@&,) )4%+%+$ *$ =+%0.$,+*+ )+ @A%01F (+%&$1%&>F Q8H+%&>$, L+%&$1%&>0 P.>&+1} 9$,+*N ?YY?R3 8>+01+$ =.1 O& +O&>&+,1+ B, H$,$(+H+,14* )4%+%&& >%.,&>+ *$ .%&>+ (%4=F )+ @A%01FN $@A,) 4, D+,+O&>&4 04=*&H+,1$% *$ @A%01,&>& =%&, %&0>4* H&,&H $* +O+>1+*.% $)@+%0+3 5+%$=&$ O&G&>$*F =.$1+ O& &,)&>$1F H$& $*+0 B, >$G )+ $O+>E&4,& 0$4 *+G&4,& >+ &,)4> )4%+%+ >$%+ )+1+%H&,F 4, ,&@+* %+)40 )+ $>1&@&1$1+ O&G&>FN $@A,) )%+=1 >.,0+>&,EF %+)4>+%+$ 1.*+%$,E+& *$ +O.%13 C,$O$%F )+ 1+%$=&$ H+)&>$H+,1.$0FN O&G&.1+%$=&$ =.$1+ &,O*4+,E$ H+,E&,+%+$ >$=$>&1FE&& O&G&>+ I& $ $41.,.H&+& >4 %+)4>+%+$ )&G$D&*&1FE&*.% *$ =$>&+,E&& @A%01,&>&3 -$ $>+01+$ 0+ $)$4(F 1+%$=&$ .>4=$E&.,$*FN >$%+ >.,1%&D4&+ *$ +O+>14$%+$ $>1&@&1FE&*.% G&*,&>+N *$ (F0&%+$ 4,.% $*1+%,$1&@+ O4,>E&.,$*+ ,+B,0.E&1+ )+ )4%+%+3 90&].1+%$=&$ >%+I1+ 1.*+%$,E$ =$>&+,E&*.% *$ )4%+%+N )$% %+)4>+ I& ,&@+*4* )+ =+%>+=E&+ $* )4%+%&&3 6O+>1+*+ =0&].1+%$=&+& 04,1 =%+G+,1+ I& B, >$G4* $0.>&+%&& )+=%+0&+& *$ =$>&+,E&& >+ 04O+%F 0+,G$E&& )4%+%.$0+3 8>4=4,>14%$ =.$1+ &,)4>+ $,$*(+G&+ B, )&@+%0+ $O+>E&4,& B,0.E&1+ )+ )4%+%+ >4 >$%$>1+% >%.,&>N >$ )+ +f+H=*4 *.HD$*(&$ I& .01+.$%1%&1$3 8>+$01F 1+%$=&+ ,4 0+ B,0.E+I1+ )+ +O+>1+ $)@+%0+ &H=.%1$,1+3 P1&H4*$%+$ ,+%@.$0F +*+>1%&>F 1%$,0>41$,$1F Q5%$,0>41$,+.40 +*+>1%&>$* ,+%@+ 01&H4*$1&., ' 56TPR +01+ . =%.>+)4%F 41&*&G$1F B, O&G&.1+%$=&+N >+ =.$1+ O& +f+>41$1F I& *$ ).H&>&*&43 6O+>1+*+ $>+01+&$ 04,1 )+ $H+*&.%$%+ $ )4%+%&& )$% I& )+ =%+@+,E&+ B,$&,1+ )+ +O+>14$%+$ 4,.% +f+%>&E&& 0$4 $>1&@&1FE& >+ =.1 &,)4>+ )4%+%+N =%+>4H j&,+1.1+%$=&$ )+ %+>4=+%$%+N 0$4 $I+G$%+$ =+ 0>$4, 0$4 H+%04* >4 H$I&,$ 1&H= )+ H$& H4*1+ .%+3 <1&*&G$%+$ $=$%$14*4& )+ >F1%+ =$>&+,1 0$4 $=$%E&,F1.%& +01+ O$>&*F I& >4 %&0> H&,&H )+ +O+>1+ $)@+%0+3 C, >$G4* =$>&+,E&*.% >4 =$>+H$j+%N 41&*&G$%+$ 56TP ,4 +01+ >.,1%$&,)&>$1F )$>F +*+>1%.G&& 0+ =*$0+$GF *$ )&01$,EF )+ =$>+H$j+%3 C, $O$%F )+ +@$*4$%+$ 0&H4*1$,F $ +*+H+,1+*.% O&G&>+N >.(,&1&@+ I& =0&].*.(&>+ *$ @A%01,&>&& >$%+ =%+G&,1F )4%+%+ =+%0&01+,1FN $0.>&+%+$ )&,1%+ 1%$1$H+,14* H+)&>$H+,1.0N O&G&.j&,+1.1+%$=&+N =0&].1+%$=&+ I& 1+%$=&+ .>4=$E&.,$*F =.$1+ @+,& B, 0=%&k&,4* =$>&+,E&*.% =+,1%4 $ O$>+ O$EF )4%+%&&N =+,1%4 $ H+,E&,+ $41.,.H&$ I& >$*&1$1+$ @&+E&& Q#>L+$%}N ?YY"R3
"SY
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f=+%&+,E+N ,+O&&,) B,1.1)+$4,$ @$*$D&*+ >]+01&.,$%+*+ )+ 1+01$%+ $ )4%+%&& Qc~$j]$*+,N l$H+%0N “ `+%(+%N ?YY_R3 -$ =$>&+,E&& >4 )+H+,EFN +01+ &H=.%1$,1F &,O.%H$E&$ )&, =$%1+$ H+)&>&*.% >$%+ >4,.0> =$>&+,14*N =%+>4H I& &,O.%H$E&&*+ )+ *$ H+HD%&& O$H&*&+& I& )+ *$ >+& >$%+ B* B,(%&k+0>3 T4 +f&01F D&,+ )+O&,&1+ (]&)4%&*+ )+ 1%$1$H+,1 $* )4%+%&& )4=F 0>.%4* 98:T8; Ql.%($0 “ #&**+%N ?YY\R3 2+$ H$& >.%+>1F I& +O&>$>+ $D.%)$%+ $ H$,$(+H+,14*4& )4%+%&& *$ @A%01,&>&& >4 )+H+,EF +01+ 0F =%+04=4,+H >F =%+G&,1F )4%+%& B, >$G4* B, >$%+ $O+>E&4,&*+ I&r0$4 =%.>+)4%&*+ H+)&>.'>]&%4%(&>$*+ 0+ $0.>&$GF 1&=&> >4 )4%+%+3 7+>.H$,)F%&*+ 04,1 )+ $D.%)$%+ =%+>.>+ I& =%.$>1&@F $ H$,$(+H+,14*4& )4%+%&& *$ @A%01,&>&3 X'KC')(&/"'* "3 8LP 9$,+* Q?YYXR3 9]$%H$>.*.(&>$* H$,$(+H+,1 .O =+%0&01+,1 =$&, &, .*)+% =+%0.,03 m8LP 84(401 ?YYXq ZaQ\Rd"SS"'"Sb_3 ?3 8LP 9$,+* ., 2]%.,&> 9$&, &, /*)+% 9+%0.,0 Q"XX\R3 5]+ H$,$(+H+,1 .O >]%.,&> =$&, &, .*)+% =+%0.,03 8H+%&>$, L+%&$1%&>0 P.>&+1}3 m 8H L+%&$1% P.>3 b_d_SZ'_Z"3 S3 8*+f$ :3;3N :*&+ 8323N #.%.0$,4 83N g.&>$ 83 Q?Y"SR 8==%.$>]&,( O%$&*1} $0 1]+ ,+~ (+%&$1%&> 0},)%.H+3 5]+ #+)&>$* P4%(&>$* m.4%,$*3 ""aQSRd _\Y'_\Z3 b3 8H+%&>$, L+%&$1%&>0 P.>&+1} 9$,+* Q?YY?R3 5]+ H$,$(+H+,1 .O =+%0&01+,1 =$&, &, .*)+% =+%0.,03 V N9 R(*'2)* I%/C ZYd"'?Y3 Z3 `+**@&**+ m3x3N J.%%+01 x3l3 m%3N #&**+% 63N +1 $*3 Q"Xa"R3 :,O*4+,>+ .O $(+ ., =$&, %+*&+O O%.H $,$*(+0&>03 8 014)} .O =.01.=+%$1&@+ =$1&+,103 m8#83 ?"ad"\SZ"\b"3 _3 `+%,$D+& 73N L$HD$00& L3N -$=$,+ •3N +1 $*3 Q"XX\R3 #$,$(+H+,1 .O =$&, &, +*)+%*} =$1&+,10 ~&1] >$,>+%3 P8L6 P14)} L%.4= QP}01+H$1&> 800+00H+,1 .O L+%&$1%&> ;%4( <0+ @&$ 6=&)+H&.*.(}R3 m8#83 ?aXd"\aa'"\\?3 a3 `*}1] J3#3N #$%>] -3#3N `%,$D&> 83m3N +1 $*3 Q?YY"R 2]%.,&> =$&, &, 8401%$*&$d $ =%+@$*+,>+ 014)}3 9$&,3 \Xd"?a'"Sb3 \3 2]$j.4% #323N L&D0., P3m3N `%$)D++% #3N +1 $*3 Q"XX_R 5]+ +OO+>1 .O $(+ ., 8')+*1$ $,) 2'O&D%+ 1]+%H$* =$&, =+%>+=1&.,3 9$&,3 _bd"bS'"Z?3
"S"
X3 2..,+% 63N 8H.%.0& P3 Q"XXaR 5]+ P14)} .O 9$&, &, /*)+% 8H+%&>$,03 T+~ €.%jd -.4&0 l$%%&0 $,) 800.>&$1+03 "Y3 ;.,$*) :393N J.} 23 Q?YYbR 8 *.,(&14)&,$* 014)} .O k.&,1 =$&, &, .*)+% =+.=*+3 7]+4H$1.*.(} Q/fO.%)R3 bSd"?Z_e"?_Y3 ""3 J+%%+** `383 Q"XXZR 9$&, +@$*4$1&., $,) H$,$(+H+,1 &, 1]+ ,4%0&,( ].H+3 8,, :,1+%, #+)3 "?Sd_\"'_\a3 "?3 J+%%+** `383 Q"XX_R3 /@+%@&+~ .O $(&,( $,) =$&,3 :,d J+%%+** `373N J+%%+** `383N +)&1.%03 9$&, &, 1]+ 6*)+%*}3 P+$11*+d :8P9 9%+003 == "e"Y3 "S3 J+%%+** `383N J+%%+** `373N /01+%~+&* ;3 Q"XXYR 9$&, &, 1]+ ,4%0&,( ].H+3 m 8H L+%&$1% P.>3 S\dbYXeb"b3 "b3 J+%%+** `383N J+%%+** `373N 7&@+%$ -3 Q"XXZR 9$&, &, >.(,&1&@+*} &H=$&%+) ,4%0&,( ].H+ =$1&+,103 m 9$&, P}H=1.H #$,$(+3 "YdZX"eZX\3 "Z3 J+%%+** `373N 7]&,+% #3N 2.]+, #3c3N +1 $*3 Q"XX"R3 9$&, $0 $ H+1$=].% O.% &**,+003 9$%1 :d :H=$>1 .O >$,>+% =$&, ., O$H&*} >$%+(&@+%03 /,>.* T4%0 J.%4H3 "\d"SYS'"SYX3 "_3 J&,+ 93L3 Q?YYYR 9$&, $,) $(&,(d .@+%>.H&,( D$%%&+%0 1. 1%+$1H+,1 $,) %.*+ .O 1%$,0)+%H$* .=&.&) 1]+%$=}3 2*&, L+%&$1%3 \d?\'S_3 "a3 L&D0., P3m3N l+*H+ 73;3 Q?YY"R 8(+'%+*$1+) )&OO+%+,>+0 &, =$&, =+%>+=1&., $,) %+=.%13 2*&, L+%&$1% #+)3 "adbSS'bZ_3 "\3 l$%)+, 73T3 Q?YY?R 2]%.,&> .=&.&) 1]+%$=}d $,.1]+% %+$==%$&0$*3 8H 9$&, P.> `4**3 "?d"N \'"?3 "X3 l+ x3N P+,(4=1$ #3N g+*j.OO g383 +1 $*3 _Z" &, 1]+ <,&1+) P1$1+0d ?YYZ3 x$0]&,(1.,N ;2d <3P3 2+,040 `4%+$4N 24%%+,1 9.=4*$1&., 7+=.%10N <3P3 L.@+%,H+,1 9%&,1&,( /O>+N ?YYZN == ?Se?YX3 ?Y3 l+*H+ 73;N L&D0., P3m3 Q"XXXR 9$&, &, .*)+% =+.=*+3 :,d 2%.HD&+ :3•3N 2%.O1 9373N -&,1., P3m3N +1 $*N +)03 6=&)+H&.*.(} .O 9$&,3 P+$11*+d :8P9 9%+003 == "YS'""?3 ?"3 l+*H+ 73;3N L&D0., P3m3 Q?YY"R 5]+ +=&)+H&.*.(} .O =$&, &, +*)+%*} =+.=*+3 2*&, L+%&$1% #+)3 "adb"aebS"3 ??3 l+%% •3N `k.%. •3N “ ;+>j+% P3 Q?YY_R3 5..*0 O.% $00+00H+,1 .O =$&, &, ,.,@+%D$* .*)+% $)4*10 ~&1] )+H+,1&$d 8 01$1+'.O'1]+'0>&+,>+ %+@&+~3 m.4%,$* .O 9$&, $,) P}H=1.H #$,$(+H+,1N S"Q?RN "aY'"X?3 ?S3 l+%% •3N 2.},+ 93m3N #$,~.%%+, 73N #>2$OO+%} #3N #+%j+* P3N 9+.*.0&'•+**} m3N x&*) -3N “ 8H+%&>$, P.>&+1} O.% 9$&, #$,$(+H+,1 T4%0&,(3 Q?YY_R3 9$&, $00+00H+,1 &, 1]+ ,.,@+%D$* =$1&+,1d 9.0&1&., 01$1+H+,1 ~&1] >*&,&>$* =%$>1&>+ %+>.HH+,)$1&.,03 9$&, #$,$(+H+,1 T4%0&,(N aQ?RN bb'Z?3 ?b3 l.%($0 83-3 “ #&**+% -383 Q?YY\R3 l.~ 1. 5%} 5]&0d 9$&, $00+00H+,1 &, =+.=*+ ~&1] )+H+,1&$3 8H+%&>$, m.4%,$* .O T4%0&,(N "Y\QaRN _?'aY3 ?Z3 •$&j. 73J3 Q"X\YR 8(+ $,) H.%=]&,+ $,$*(+0&$ &, >$,>+% =$1&+,10 ~&1] =.01.=+%$1&@+ =$&,3 2*&, 9]$%H$>.* 5]+%3 ?\d\?S'\?_3 ?_3 •$&j. 73J3N 8H3 x$**+,01+&, P3-3N 7.(+%0 83L3N +1 $*3 Q"X\?R T$%>.1&>0 &, 1]+ +*)+%*}3 #+) 2*&, T.%1] __d"YaX'"Y\X3 ?a3 •++O+ J3m3N 2$*)~+** ;3P3N †4++, •353N +1 $*3 Q"X\aR 9$&, >.=&,( 01%$1+(&+0 &, .01+.$%1]%&1&0 =$1&+,103 m 2.,04*1 2*&, 90}>].*3 ZZd?Y\'?"?3 ?\3 #$,1}0+*j$ 93N •4H=40$*. 63N 8].,+, 73N +1 $*3 Q?YY"R 9$&, $0 $ %+$0., 1. @&0&1 1]+ ).>1.%d $ 014)} &, J&,,&0] =%&H$%} ]+$*1] >$%+3 9$&,3 \Xd"aZ'"\Y3 ?X3 #+*G$>j 73 Q"XXYR 5]+ 1%$(+)} .O ,++)*+00 =$&,3 P>& 8H3 ?_?d?a'SS3
"S?
SY3 #+%0j+} l3N `.()4j T3N +)0Q"XXbR3 2*$00&O&>$1&., .O 2]%.,&> 9$&,N ?,) +)3 P+$11*+d :8P9 9%+003 == f&'f@3 S"3 9$%H+*++ 9383N •$1G :373N -$~1., #393 Q"XX"R3 5]+ %+*$1&., .O =$&, 1. )+=%+00&., $H.,( &,01&141&.,$*&G+) $(+)3 m L+%.,1.*3 b_d9"Z'9?"3 S?3 9.%1+,.} 73•3 Q"XX"R 2]%.,&> .=&.&) 1]+%$=} O.% =+%0&01+,1 ,.,'>$,>+% =$&,d >$, ~+ (+1 =$01 1]+ D&$0 8H 9$&, P.> `4**3 "d"Nb'Z3 SS3 9.11+% m3N l&((&,0., :3m3 Q?YYbR 9$&, +f=+%&+,>+) D} *4,( >$,>+% =$1&+,10d 8 %+@&+~ .O =%+@$*+,>+N >$40+0 $,) =$1].=]}0&.*.(}3 -4,( 2$,>+%3 bSd?bae?Za3 Sb3 7$. 83N 2.]+, l3m3 Q?YYbR P}H=1.H H$,$(+H+,1 &, 1]+ +*)+%*} >$,>+% =$1&+,1d J$1&(4+N =$&,N $,) )+=%+00&.,3 m T$1* 2$,>+% :,01 #.,.(%3 S?d"ZYe"Za3 SZ3 7.>]., 9383N J.%1&, 9373N ;+$% •3`3N +1 $*3 Q"XXSR 7+=.%1&,( .O $(+ )$1$ &, >*&,&>$* 1%&$*0 .O $%1]%&1&03 ;+O&>&+,>&+0 $,) 0.*41&.,03 8%>] :,1+%, #+)3 "ZSd?bS?b\3 S_3 P&(,&$, #>L+$%}N -.%& L3 P*$)}jN 7.0+$,,$ 54O$,. Q?YY"R3 />>4=$1&.,$* 5]+%$=} 6f$H3 94D*&0]+%d 9 ` P*$>j3 S%) 6)&1&.,# Sa3 P1+%,D$>] 7383 Q"Xa\R3 2*&,&>$* $0=+>10 .O =$&,3 :,d P1+%,D$>] 78N +)&1.%3 5]+ 90}>].*.(} .O 9$&,3 T+~ €.%jN T€d 7$@+, 9%+003 == ??Se?SX3 S\3 5].H$0 63N 9+$1 L3N l$%%&0 -3 +1 $*3 Q?YYbR 5]+ =%+@$*+,>+ .O =$&, $,) =$&, &,1+%O+%+,>+ &, $ (+,+%$* =.=4*$1&., .O .*)+% $)4*10d 2%.00'0+>1&.,$* ,)&,(0 O%.H 1]+ T.%1] P1$OO.%)0]&%+ /01+.$%1]%&1&0 9%.k+>1 QT.%P1/9R3 9$&,3 ""YdS_"eS_\3 SX3 54%j ;32N #+*G$>j 73 Q"XX?R 5]+ H+$04%+H+,1 .O =$&, $,) 1]+ $00+00H+,1 .O =+.=*+ +f=+%&+,>&,( =$&,3 :,d 54%j ;323N #+*G$>j 73N +)03 l$,)D..j .O 9$&, 800+00H+,13 T+~ €.%jd L4&*O.%) 9%+003 == S'"?3 bY3 <,(4%+$,4 L3 N 8*+f$ :3;3N P1.&>$ /3 Q?YYa$R3 :$1%.(+,&$ 0& @$%01,&>&&3 7+@ #+) 2]&%3 SdbN \YS'\"Y3 b"3 <,(4%+$,4 L3N P1.&>$ /3N 8*+f$ :3N 8%)+*+$,4 P3 Q?YY_R3 :$1%.(+,&$ H+)&>$H+,1.$0$d )&O&>4*1$1&*+ =%+@+,1&+& 0& )&*+H+*+ D&.+1&>+3 7+@ 7.H `&.+1&>$3 bdbN ZY'Z_3 b?3 <,(4%+$,4 L3N P1.&>$ /%1$,0$N g4*=.& 2$%H+,N 8*+f$ :.$,$N 8%)+*+$,4 P3 Q?YYaDR3 9$1.*.(&$ &$1%.(+,$q =%.D*+H$1&>$ H$,$(+H+,14*4&3 7+@ 7.H `&.+1&>$3 Zd"N _\'ab3 bS3 x$%)+, g3N l4%*+} 8323N “ g.*&>+% -3 Q?YYSR3 ;+@+*.=H+,1 $,) =0}>].H+1%&> +@$*4$1&., .O 1]+ =$&, $00+00H+,1 &, $)@$,>+) )+H+,1&$ Q98:T8;R P>$*+3 m.4%,$* .O 1]+ 8H+%&>$, #+)&>$* ;&%+>1.%0 800.>&$1&.,N bQ"RN X'"Z3 bb3 x+&,+% ;3N l+%% •3 Q?YY?R 2.H=%+]+,0&@+ &,1+%)&0>&=*&,$%} $00+00H+,1 $,) 1%+$1H+,1 =*$,,&,(d $, &,1+(%$1&@+ .@+%@&+~3 :,d x+&,+% ;N l+%% •N 74)} 5N +)03 9+%0&01+,1 9$&, &, /*)+% 8)4*10d 8, :,1+%)&0>&=*&,$%} L4&)+ O.% 5%+$1H+,13 T+~ €.%jd P=%&,(+% 94D*&0]&,( 2.H=$,}33
"SS
N120204 Z, %7,093;3%70 54).% -$GF% ;&0>&=*&,$ )+ /D01+1%&>F'L&,+>.*.(&+ <#J oL%&(.%+ 53 9.=$o :$^& <1+%4* 0& $,+f+*+ $4 $>++$I& &,+%@$E&+ @&0>+%$*F >$ &*+.,4* 1+%H&,$*N >.*.,4* 0&(H.&) ^& %+>14*3 :,O.%H$E&&*+ 0+,G&1&@+ 04,1 1%$,0H&0+ =%&, ,+%@&& 0&H=$1&>& 0=%+ H&+*.H+%+*+ 5"Y'-"3 ;+.$%+>+ >$*+$ )+ 1%$,0H&1+%+ +01+ >.H4,FN )&O+%+,E&+%+$ B,1%+ .%&(&,+$ (&,+>.*.(&>F I& >+$ ($01%.&,1+01&,$*F $ )4%+%&& +01+ )&O&>&*F QT.@$j ?YYaR3 N@&*&*/ G*CI'/>F /A@?F# ;4%+%+$ $>41F >$4G$1F )+ &0>]+H&$ 0$4 *+G$%+$ @&0>+%+*.% +01+ B,0.E&1F )+ %+O*+f+ $41.,.H+ =%+>4H (%+$E$N @F%0F14%&*+N $(&1$E&+N 1%$,0=&%$E&&3 9+,1%4 $ )+>+*$ >$4G$ )4%+%&& $>41+ B, (&,+>.*.(&+N +>.(%$O&$ +,).@$(&,$*F +01+ )+ H$%+ $k41.%3 !/&A'>/ *A?)G'AF ,+%4=1F =%.)4>+ )4%+%+ *.>$*&G$1F =%&, )&*$1$%+$ 1%.H=+& 41+%&,+N +f$>+%D$1F *$ H.D&*&G$%+$ >.*4*4& 41+%&,3 /)$1F >4 %4=14%$ 0$%>&,&& +>1.=&>+N )4%+%+$ 0+ (+,+%$*&G+$GF =%&, &%&1$E&+ =+%&1.,+$*F3 6f&01$ ? .=E&4,& )+ 1%$1$H+,1d H+)&>$H+,1.0 >4 $,1$(.,&I1& )+ $>&) O.*&> Q#+1.1%+f$1RN )$>F 04,1 B,)+=*&,&1+ $,4H&1+ >%&1+%&&N 0$4 >]&%4%(&>$* ' B,)+=F%1$%+$ 0$>4*4& (+01$E&.,$* +>1.=&> vr' B,)+=F%1$%+$ 1%.H=+& 41+%&,+ Q0$*=&,(.1.H&+r0$*=&,(+>1.H&+R3 5@H)&' />*U'/C*3 l+H$1.H4* )+ >.%= ($*D+, $=$%+ &, O$G$ *41+$*F $ >&>*4*4& H+,01%4$*3 l+H.%$(&$ %+)40F =%.)4>+ )4%+%+ H&,&HFN B,0F ]+H.%$(&$ H$0&@F >4 ]+H.=+%&1.,+4 0& I.> ]&=.@.*+H&> )+1+%H&,F )4%+%& $D).H&,$*+ (+,+%$*&G$1+ I& 0&,>.=F3 5%$1$H+,14* +01+ >]&%4%(&>$* =+,1%4 $ >.,1%.*$ ]+H.01$G$3 2]&014* .@$%&$, %4=1 Q>]&014* )+%H.&)N >]&01$)+,.H4*N +,).H+1%&.H4*R >$4G+$GF &%&1$E&+ =+%&1.,+$*FN >4 1$D*.4 >*&,&> )+ $D).H+, $>413 5.%0&4,+$ $,+f&$*F &H=*&>F )+ %+(4*F .@$%+ >4 H.%O.*.(&+ H.)&O&>$1FN $)+0+$ =%&, >]&014%& .@$%&+,+3 8)+0+$N 1.%0&4,+$ 0+ %+G.*@F 0=.,1$,N 0&,(4%4* 0&H=1.H O&&,) )4%+%+$ $D).H&,$*Fq 1.%0&4,+$ =+%0&01+,1F )4>+ B, >+*+ )&, 4%HF *$ &,O$%>1 .@$%&$,N >4 )4%+%+ 0+@+%FN (%+E4%&N @F%0F14%&N $(&1$E&+3 5%$1$H+,14* +01+ >]&%4%(&>$* e )+1.%0&.,$%+r$,+f+>1.H&+3 X)/C/ '>"C/H/?)&'* G*CI'>F /A@?F# 8,+f&1$ $>41F +01+ . &,O+>E&+ =*4%&H&>%.D&$,F >4 1%$,0H&1+%+ 0+f4$*F Q)+ %+(4*F >('88(*'2 A%"%**@%(2( I& L@&29H1'2 )*2/@%92)'8R3 :,O+>E&$ >4 (.,.>.> $%+ 4, )+D41 %$=&)N =+ >A,) 2]*$H})&$ $%+ 4, )+D41 &,0&)&.403 9$>&+,1+*+ 0+ $)%+0+$GF =+,1%4 )4%+%+ B, +1$k4* $D).H&,$* &,O+%&.%N B,0.E&1F )+ 0+,0&D&*&1$1+ *$ H.D&*&G$%+$ >.*4*4& 41+%&, 0& 0+,0&D&*&1$1+ $,+f&$*F3 5%+D4&+ &,01&14&1 1%$1$H+,1 $,1&D&.1&> QB, )4D*F 0$4 1%&=*F $0.>&+%+R I& 8:TP3 4KA*.@C ?@K)i)I/&'/> &@G? =.$1+ )+1+%H&,$ I.> +,).1.f&,&> >4 (%$H',+($1&@&q )+ $>++$N %+=%+G&,1F . 4%(+,EF >]&%4%(&>$*F3 -$ =%+G+,1$%+N 0+ )+>+*+$GF )+ %+(4*F . H$0F =+*@&$,F O&f$1FN 0+,0&D&*FN >4 )4%+%+ $D).H&,$*F (+,+%$*&G$1F 0& 0+H,+ &%&1$1&@+ >$4G$1+ )+ &,O*$H$E&$ =+%&1.,+4*4&3 5%$1$H+,14* +01+ >]&%4%(&>$*N 04D $,1&D&.1&>+ >4 0=+>1%4 *$%( >4 H&,&H ?b'b\ .%+ =%+.=+%$1.% )$>F =$>&+,1$ +01+ 01$D&*F3 T'K&)/H*C* @?*&'>*# C, >4%04* 0$%>&,&&N >%+I1+%+$ O&D%.$H+*.% =.$1+ )+=FI& %$1$ )+ >%+I1+%+ $ 04%0+*.% @$0>4*$%+N >4 O+,.H+,+ )+(+,+%$1&@+N )4%+%.$0+q 1%$1$H+,14* +01+ >.,0+%@$1.%N =+ >A1 =.0&D&*3 J&D%.$H+*+ 41+%&,+ 04D0+%.$0+ =+)&>4*$1+ 0+ =.1 1.%0&.,$N >4
"Sb
)4%+%+ $D).H&,$*F $>41Fq 1%$1$H+,14* +01+ >]&%4%(&>$*3 J&D%.$H+*+ 04DH4>.$0+ =+)&>4*$1+ =.1 )+1+%H&,$ )4%+%& >.*&>$1&@+ 0& 0A,(+%F%& (+,&1$*+q 1%$1$H+,14* )+ +*+>E&+ +01+ %+G+>E&$ ]&01+%.0>.=&>F3 N@&*&*/ G*CI'>F &*A@&*>?F 6'??*C.ADH*&Q 0+ %+O+%F *$ )4%+%&*+ $D).H&,$*+ >.%+0=4,GF1.$%+ .@4*$E&+&N >$4G$1+ )+ 0>4%(+%+$ *&>]&)4*4& O.*&>4*$% >+ >.,E&,+ =%.01$(*$,)&,+3 601+ . >.,)&E&+ $41.*&H&1$1Fq 0'$ +H&0 &=.1+G$ >F 1%$1$H+,14* )4%+%&& >4 &,]&D&1.%& $& 0&,1+G+& )+ =%.01$(*$,)&,+ $% =41+$ BH=&+)&>$ .@4*$E&$3 0>+)H*?&')Q/ +01+ )+O&,&1F =%&, &H=*$,1$%+$ E+0414*4& +,).H+1%&$* B, $O$%$ >$@&1FE&& 41+%&,+N >$%+ )+1+%H&,F )4%+%+ =+*@&,F I& &,O+%1&*&1$1+3 9$>&+,1+*+ 0+ =%+G&,1F >4 )4%+%& $(%$@$1+ =%+H+,01%4$* 0$4 B, 1&H=4* H+,01%4$E&+& Q)$% =.1 =%+G+,1$ I& )4%+%+ =+*@&,F >%.,&>FR3 9$>&+,1+*+ $>4GF )4%+%+ B, +1$k4* $D).H&,$* &,O+%&.%N )&0H+,.%++N )&0>]+G&+N )&0=$%+4,&+3 -+G&4,&*+ +,).H+1%&.G&>+ )&, *&($H+,1+*+ 41+%.0$>%$1+ 0& 0+=14* %+>1.@$(&,$* >.,1%&D4&+ *$ )4%+%+$ )&, 1&H=4* >.,1$>14*4& 0+f4$*3 ;4%+%&*+ *$ )+O+>$E&+ 04,1 >$4G$1+ )+ &,O&*1%$%+$ &,1+01&,4*4& >4 O.>$%+ +,).H+1%&.G&>+3 ;4%+%+$ )&, +,).H+1%&.GF ,4 +01+ )&%+>1 =%.=.%E&.,$*F >4 )+=.G&1+*+ +,).H+1%&.G&>+ @&G&D&*+ H$>%.0>.=&>N >& +01+ *+($1F )+ H+)&$1.%&& &,O*$H$1.%& I& &,O&*1%$%+$ ,+%@&*.%3 9+,1%4 $ %+)4>+ )4%+%+$ $0.>&$1F +,).H+1%&.G+& $4 O.01 B,>+%>$1+ H$& H4*1+ H+)&>$H+,1+ )+ 04=%&H$%+ $ .@4*$E&+&N B,0F $>+01+$ ,4 $)4> D+,+O&>&& 04=*&H+,1$%+ O+H+&*.% &,O+%1&*+ >$%+ ).%+0> 0F .DE&,$ . 0$%>&,F Ql4(]+0 ?YYaR3 5%$1$H+,14* >]&%4%(&>$* Q$D*$E&$ *+G&4,&*.% +,).H+1%&$*+N $)+G&.*&GFN ,+4%+>1.H&+ =%+0$>$%$1FN )+,+%@$%+ 41+%&,F *$=$%.0>.=&>FN ]&01+%+>1.H&+ 1.1$*F >4 $,+f+>1.H&+ D&*$1+%$*FR $)4>+ D+,+O&>&& B, >++$ >+ =%&@+I1+ )4%+%+$N )$% %$1$ )+ %+&,1+%@+,E&+ +01+ )+ =A,F *$ ZY{ QB, &,1+%@+,E&&*+ >.,0+%@$1.$%+ I& 0+H&>.,0+%@$1.$%+Rq B, +,).H+1%&.G$ %+>1.@$(&,$*F 0'$ >.,01$1$1 $H+*&.%$%+$ )4%+%&& =A,F *$ \Y{ =+ 1+%H+, 0>4%1N )$% ZY{ )&,1%+ =$>&+,1+ ,+>+0&1F $,$*(+G&>+ 0$4 1+%$=&+ ].%H.,$*F *$ " $,3 8,$*.(&& L,7l $)H&,&01%$E& _ *4,& =.01.=+%$1.% %+)4> 0+H,&O&>$1&@ )4%+%+$3 8)+,.H&.G$ +01+ )+O&,&1F =%&, =%+G+,E$ E+0414*4& +,).H+1%&$* B, H&.H+1%4q 1%$1$H+,14* &,>*4)+ 8:TPN >.,1%$>+=1&@+ .%$*+ >.HD&,$1+ 0$4 >4 =%.(+01+%.,N )&0=.G&1&@4* &,1%$41+%&, >4 *+@.,.%(+01%+*N $(.,&I1&& L,7] 0&N B, 4*1&HF &,01$,EFN ]&01+%+>1.H&$3 N'.H*>)&**/ G&'H/&F +01+ )+O&,&1F >$ )4%+%+ H+,01%4$*F $0.>&$1F >&>*4%&*.% .@4*$1.%&& B, $D0+,E$ 4,+& =$1.*.(&& 01%4>14%$*+3 9$>&+,1+*+ $>4GF )4%+%& 04=%$=4D&+,+ >4 >$%$>1+% )+ >%$H=+N >4 &%$)&+%+ =+ O$E$ $,1+%&.$%F $ >.$=0+*.% 0$4 B, %+(&4,+$ 0$>%$1FN >+ )+D41+$GF >4 >A1+@$ .%+ B,$&,1+ )+ H+,01%F I& =.1 )4%$ =A,F *$ a? .%+3 ;+ %+(4*F $O+>1+$GF O+H+&*+ 1&,+%+ I& 0+ $H+*&.%+$GF )4=F =%&H$ ,$I1+%+3 9+01+ \Y{ )&, =$>&+,1+ $4 4, %F0=4,0 +f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l&=+%1.,&$ 41+%&,F I& +f>+04* )+ =%.01$(*$,)&,+ $4 O.01 &,>%&H&,$1+ B, O&G&.=$1.*.(&$ )&0H+,.%++& 0+>4,)$%+3 7F0=4,04* *$ 8:TP I& >.,1%$>+=1&@+*+ .%$*+ ,4 +01+ *$ O+* )+ D4, >$ B, )&0H+,.%++$ =%&H$%F3
"SZ
N@&*&*/ G*CI'/>F A&)>'AF ;4%+%+$ =+*@&$,$ >%.,&>$ +01+ )+O&,&1F >$ )4%+%+ >.,1&,4F ,.,'>&>*&>F >$%+ )4%+$GF )+ =+01+ _ *4,&N *.>$*&G$1F B, =+*@&0N =+%+1+ $D).H&,$* 04D.HD&*&>$*N %+(&4,+$ *.HD.0$>%$1F 0& )+1+%H&,F )&G$D&*&1FE: O4,>E&.,$*+ 0$4 ,+>+0&1F B,(%&k&%& H+)&>$*+3 2$4G+*+ (&,+>.*.(&>+ 1%+D4&+ )&O+%+,E&$1+ )+ 0&,)%.H4* >.*.,4*4& &%&1$D&*N >&01&1$ &,1+%01&E&$*F I& )4%+%+$ H&.O$0>&$*F =+*@&,F3 X)/C/ '>"C/H/?)&'* G*CI'/>F A&)>'AF $0.>&$GF )4%+%+ $14,>& >A,) 0+ 04=%$=4, &,O+>E&$ 0$4 $)+%+,E+*+3 P'$ )+H.,01%$1 >F $)+%+,E+*+ =+%&1.,+$*+ =+*@&,+ *$f+N >$%+ =+%H&1 H.D&*&G$%+$ >+*.% ? 0+(H+,1+ $*&=&1+N 04,1 H$& )4%+%.$0+ )+>A1 $)+%+,E+*+ )+,0+N O&f$1+q =$>&+,1$ 1%+D4&+ 0F B,E+*+$(F >F $)+G&.*&G$ ,4 =%+@&,+ %+>4%+,E$ I& 1%+D4&+ 0F $&DF $I1+=1F%& %+$*&01+ )+ *$ &,1+%@+,E&$ >]&%4(&>$*Fq D+,+O&>&&*+ >]&%4%(&>$*+ 04,1 H$& H$%& B, >$G4* $)+%+,E+*.% >$%+ &H=*&>F 1%$>14* &,1+01&,$*3 P@CI)I/('>'?*C* =.1 O& >$4G$1+ )+ %+$>E&& $*+%(&>+N &,O+>E&& 0$4 ]&=.+01%.(+,&0H I& 0+ H$,&O+01F =%&, )&0>.,O.%1N )&0=$%+4,&+N 0+,G$E&$ )+ $%04%FN *+4>.%++3 -.>$*&G$%+$ )4%+%&& +01+ +0+,E&$*F =+,1%4 $ 01$D&*& 1%$1$H+,14*3 g4*@&1$ )+ >.,1$>1 ,+>+0&1F 01+%.&G& 1.=&>&N @$(&,&1$ $1%.O&>F D+,+O&>&$GF )+ +01%.(+,& 1.=&>&N &$% B, @$(&,&1$ H&>%&.D&$,F 0+ $)H&,&01%+$GF $,1&D&.1+%$=&+ *.>$*F vr' 0&01+H&>F3 !'>+&)H@C G).?D'.?*&*A?)H'* >.,01F B, )4%+%+ >$4G$1F )+ >+*4*&1Fr0+%.Hr]+H$1.H *$ ,&@+*4* D.,14*4& @$(&,$* 0$4 ,+@%$*(&+ =%&, 1%$,0+>E&$ E+0414*4& ,+%@.03 7+G+>E&$ =$%E&$*F $ D.,14*4& @$(&,$* $H+*&.%+$GF 4,+.%& )4%+%+$3 N@&*&*/ W> A/>A*&*C* ('>*A)C)('A* +01+ >+* H$& O%+>@+,1 4, 0&H=1.H 1$%)&@N B, 01$)&& $@$,0$1+3 C, $>+01+ >$G4%&N >+$ H$& &H=.%1$,1F H.)$*&1$1+ )+ 1%$1$H+,1 +01+ %+=%+G+,1$1F )+ H+)&>$E&$ $,1$*(&>F3 5%$1$H+,14* 0+ O$>+ B, (+,+%$* B, S +1$=+ 04>>+0&@+N ,4H&1+ 04(+01&@ )+ /#P nB, 0>$%FMd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f4$*q 4, $*1 0+H, )+ $*$%HF +01+ )&0=$%+4,&$ Q)&0>.,O.%1 0$4 )4%+%+ *$ >.,1$>14* 0+f4$*RN )$% 0&H=1.H+*+ 04,1 )+ H4*1+ .%& $D0+,1+ =A,F >A,) >$,>+%4* 0+ $O*F )+k$ B,1%'4, 01$)&4 $@$,0$13 ;$>$ B, 01$)&4* &,&E&$* )4%+%+$ +01+ ,+0+H,&O&>$1&@F 0$4 $D0+,1FN B, 01$)&4* :: =.$1+ $=F%+$ )4%+%+$ ]&=.($01%&>F >$ . >.,0+>&,EF $ %+$>E&+& 01%.H$*+ I& $ &,@$G&+& ,+.=*$G&>+ $ =$%$H+1%+*.%N >$%+ @$ &,1+%+0$ O&*+1+*+ ,+%@.$0+3 ;4%+%&*+ =+*@&,+ 04,1 >+* H$& $)+0+$ =%+G+,1+ B, 01$)&&*+ $@$,0$1+ I& 1%$)4> +f1+,0&$ *.>$*F $ D.*&&N O&&,) >$4G$1+ )+ >.H=%+0&$ 01%4>14%&*.% B,@+>&,$1+3 9%&, >.H=%+0&+ $04=%$ >.*.,4*4& 0+ =.1 =%.)4>+ )4%+%& )&(+01&@+N >.,01&=$E&+32*$0&>N ;+ $0+H+,+$N =.1I& O&:g =%+G+,1+ )4%+%& *.HD$%+N >$4G$1+ 4%+1+%.]&)%.,+O%.GF3 B, 01$)&&*+ ::: )4%+%+$ +01+ )+0>%&0F >$ O&&,) @&+N )+ )+ &,1+,0&1$1+ H$%+N 4,+.%& >.,1&,4FN )$% >+* H$& $)+0+$ B, >%&G+ =$%.f&01&>+N )4%+%+ >$%+ >+)+$GF ).$% *$ $,1$*(&>+ H$k.%+3 5%$1$H+,14* +01+ H&f1N H4*1&)&0>&=*&,$%N 4, %.* &H=.%1$,1 %+@+,&,) 1%$1$H+,14*4& >]&%4%(&>$*3 84 O.01 >&1$1+ ,4H+%.$0+ >$G4%& >4 )4%+%& >%.,&>+ =.01.=+%$1.%&&N >$4G$ $>+01.%$ O&&,) *+G$%+$ ,+%@&*.% 0+,G&1&@& B, >$)%4* ]&01+%+>1.H&+& %$)&>$*+3
"S_
9/>A*&@C +* A)&G @?*&'> %+=%+G&,1F >$,>+%4* H4>.$0+& O4,>E&.,$*+ $ >$@&1FE&& 41+%&,+N *&H&1$1F &,O+%&.% =%&,1%'. *&,&+ .%&G.,1$*F >$%+ 1%+>+ *$ ,&@+*4* .%&O&>&4*4& >+%@&>$* &,1+%,3 C, 01$)&&*+ &,&E&$*+ )4%+%+$ +01+ >*$0&> $D0+,1FN 0&H=1.H4* =%&,>&=$* O&&,) H+1%.%$(&&*+ =.01>*&H$f %+)40+ >$,1&1$1&@3 ;4%+%+$ $=$%+ )+ .D&>+& H$& 1A%G&4N O&&,) H.)+%$1F I& >.,1&,4FN 4,+.%& >.*&>$1&@F I& &,1+%H&1+,1F3 P4,1 >&1$1+ >$G4%& B, >$%+ )4%+%+$ $ %+=%+G+,1$1 0&,(4%4* 0&H=1.HN n>$,>+%+*+ +f>*40&@ )4%+%.$0+M )+0>%&0+ )+ -+@}3 9/>A*&@C +* )I/& P&H=1.H$1.*.(&$ =.$1+ &,>*4)+ 4, @$( )&0>.,O.%1 $D).H&,$*r=+*@&,N H&>& 14*D4%F%& )&(+01&@+ >4H $% O& 0+,G$E&$ )+ D$*.,$%+3 N@&*&*/ W> A/>A*&@C +* .p> +01+ %$%F B, 01$)&&*+ =%+>.>+N B,0F H$01.)&,&$ >&>*&>F =.$1+ $=F%+$ B, *+G&4,& >4 =.1+,E&$* )+ 1%$,0O.%H$%+ H$*&(,FN >4H $% O& )&01%.O&$ O&D%.>]&01&>$ $ 0A,4*4&3 P1$)&&*+ $@$,0$1+ =%+G&,1F &,@$G&$ =+%+1+*4& 1.%$>&>N $ H4I>]&4*4& =+>1.%$* I& $ 1+(4H+,14*4&3 :,@$G&$ E+0414%&*.% B,@+>&,$1+ =%.)4>+ +f>&1$%+$ 1+%H&,$E&&*.% ,+%@.$0+ )+ *$ ,&@+*4* $>+01.%$ I& $=$%&E&$ )4%+%&&3 ;+ $0+H+,+$N )4%+%+$ +01+ O%+>@+,1F B, >$G4* $=$%&E&+& H+1$01$G+*.% .0.$0+3 C, =*40N B, >$,>+%4* )+ 0A, 1%+D4&+ $>.%)$1F $1+,E&+ )4%+%&& =.01.=+%$1.%&&3 9$%1&>4*$%&1FE&*+ &,1+%@+,E&+& >]&%4%(&>$*+ )4> *$ *+G$%+$ =$>]+1+*.% ,+%@.$0+N 4,+.%& &%+@+%0&D&*F3 -&HO$)+,+>1.H&$ $f&*$%F =%.)4>+ *+G$%+$ ,+%@& $f&*$%&*.% I& )+1+%H&,F *&HO+)+H *$ ,&@+*4* D%$E4*4&N >4 )4%+%& 04=*&H+,1$%+ =%&, >.H=%&H$%+$ 01%4>14%&*.%3 9%.O&*$f&$ *&HO+)+H4*4& 0+ O$>+ >4 1.,&>+ @$0>4*$%+N 04=.%1 H+>$,&> I& O&G&.j&,+1.1+%$=&+3 P4,1 >&1$1+ I& >$G4%& )+ n)4%+%+ O$,1.HFM )4=F H$01+>1.H&&N =$>&+,1+*+ $>4GA,) )4%+%+ >4 =+%>+=E&+ *$ ,&@+*4* G.,+& >$%+ >.%+0=4,)+ 0A,4*4& +f1&%=$1q B, 1%$1$H+,14* $>+01.% O.%H+ )+ )4%+%+ 4, %.* &H=.%1$,1 B* $%+ H+)&>$E&$ =0&].1%.=F I& >.,0&*&+%+$ =0&].*.(&>F3 X'KC')(&/"'* "3 m.,$1]$, P3 `+%+jN `+%+j “ T.@$j‹0 L},+>.*.(}N :004+ XSZN g.*4H+ ?YYaN -&==&,>.11 x&**&$H0 “ x&*j&,0N ?YYa ?3 l4(]+0 6N `%.~, mN 2.**&,0 mmN J$%‰4]$% 2N J+).%j.~ ;#N g$,)+j+%>j].@+ 93 /@4*$1&., 04==%+00&., O.% +,).H+1%&.0&03 L%/@*2"( ;2)2$28( IH8) T(73 m4* "\ ?YYaq 2;YYY"ZZ3 N@&*&*/ W> )K.?*?&'AF 2+*+ H$& &H=.%1$,1+ 0&,)%.$H+ ^& D.*& )&, =$1.*.(&$ .D01+1%&>$*F 04,1 B,0.[&1+ )+ )4%+%+3 8>+$01$ +01+ )+1+%H&,$1F )+ )+ 01&H4*& H+>$,&>& I& >]&H&>&d >.,1%$>[&&*+ 41+%&,+N $H=*&+%+$ 0+(H+,14*4& &,O+%&.% 41+%&,N )&*$1$%+$ >.*4*4&N 1%$>E&4,+$ =+ *&($H+,1+*+ 41+%.0$>%$1+N %.14,)+ I& &,O4,)&D4*.'=+*@&>+N 1%$>E&4,+$ =+ $,+f+N )&01+,0&$ @$(&,4*4&N )&01+,0&$ =+%&,+4*4&N >.H=%&H$%+$ .%($,+*.% @+>&,+ ^& &0>]+H&$ *.>$*FN +=4&G$%+$ %+G+%@+*.% +,+%(+1&>+ H40>4*$%+ I& $>4H4*$%+$ )+ H+1$D.*&E& $& $>&)4*4& *$>1&>N )+0>F%>$%+$ 4,.% O$>1.%& >&1.1.f&>& *.>$*&3 ;4%+%+$ B, .D01+1%&>F $%+ ).4F >.H=.,+,1+d @&0>+%$*F I& 0.H$1&>F3 ;4%+%+$ @&0>+%$*F +01+ =+%>+=41F >$ )4%+%+ $D).H&,$*F 0$4 *.HD$%F &,1+%H&1+,1F ^& )4%+%+ ]&=.($01%&>F3 ;4%+%+$ 0.H$1&>F B^& $%+ .%&(&,+$ *$ ,&@+*4* H40>4*$14%&& $D).H&,$*+ B, 1&H=4* +O.%14*4& +f=4*G&@q =.$1+ O& >$4G$1F )+ H$,+@%+ .D01+1%&>$*+3 -$ =$%14%&+,1+ +01+ &H=.%1$,1F $1A1 1%F&%+$ 8("4%*'2&3 >A1 I& >+$ (9%6'%"2&33 ;+ $&>& &H=.%1$,E$ 1%$1$H+,14*4& )4%+%&& >$%+ 1%+D4&+ 0F 0+ $)%+0+G+ $HD+*.% >.H=.,+,1+3 U2"'=(8)2*(2 -' ,(*/(,(*(2 1+*(*'' (8)( '"=&+("62)3 1(d ,&@+*4* )+ +)4>$E&+ $* =$>&+,1+&N ,&@+*4* $I1+=1F%&*.%N %$0F I& &,O*4+,E+ >4*14%$*+N +f=+%&+,E$ $,1+%&.$%F3 :,1%$=$%14HN )4%+%+$ +01+ &,O*4+,E$1F B, 0+,04* >%+I1+%&& 0$4 0>F)+%&& +& OF%F $ $@+$ *+(F14%F >4 1%F&%+$ 0+,G.%&$*F )4%+%.$0F $ =$%14%&+,1+&d
"Sa
83 O$>1.%& >$%+ >%+0> &,1+,0&1$1+$ )4%+%&&d =%+G+,1$E&& )&01.>&>+ e .>>&=&1.'0$>%$1FN )&0H+,.%+$N @A%01$ 1A,F%F $ H$H+&N =.G&E&$ @+%1&>$*F B, 1&H=4* 1%$@$*&4*4&N (%+41$1+ H$%+ H$1+%,F I& r 0$4 O+1$*FN $)H&,&01%$%+$ H+)&>$E&+& .>&1.>&>+ `3 J$>1.%& >+ 0>$) &,1+,0&1$1+$ )4%+%&&d =%+G+,E$ =+%0.,$*4*4& >$*&O&>$1N =%+(F1&%+$ ,$I1+%&& =%&, +f+%>&E&&N $I1+=1F%& %+$*&01+N $)H&,&01%$%+$ $,$*(+G&>+*.%N =%+G+,E$ 1$1F*4& B, 1&H=4* ,$I1+%&&3 N@&*&*/ W> G&'>A'G/C* .'>+&)/H* )K.?*?&'A/C* $3 $@.%14* %+=%+G&,1F +*&H&,$%+$ =%.)404*4& )+ >.,>+=[&+ B,$&,1+$ @A%01+& H&,&H+ )+ @&$D&*&1$1+ Q?b 0$=1N ZYY(R3 :H&,+,[$ )+ $@.%1 ^& $@.%14* B, +@.*4[&+ 04,1 =%&,1%+ >+*+ H$& )+G$(%+$D&*+ )$% O%+>@+,1+ +=&0.$)+ )4%+%.$0+ 1%F&1+ )+ O+H+&*+ *$ @A%01+ O+%1&*+3 ;4%+%&*+ )&, $@.%1 04,1 B,0.[&1+ )+ H+1%.%$(&+N 01$%+ (+,+%$*F &,O*4+,[$1Fq 1%$1$H+,14* )4%+%&& 0+ $)%+0+$G$ )+ O$=1 $@.%14*4& e =%.(+01$1&@+N 1.>.*&1&>+ B, $@.%14* 1%&H+01%4*4& ::N &$% )$>$ $@.%14* 0'$ =%.)40 $,$*(+G&+ 0&01+H&>F &,1%$@+,.$0F =+,1%4 >]&4%+1$k4* >$@&1$[&& 41+%&,+ Q.=&.&G&N )&=%&@$,R3 D3 0$%>&,$ +>1.=&>F %+=%+G&,1F *.>$*&G$%+$ .4*4& B, $O$%$ >$@&1F[&& 41+%&,+d 14D$%FN .@$%&,FN $D).H&,$*F ^& >+%@&>$*F3 ;4%+%+$ +01+ >+* H$& &H=.%1$,1 0+H, $*F14%& )+ $H+,.%++ 0& H+1%.%$(&+3 8>+$01F 1%&$)F )+0>%&+ *$ O+H+&$ O+%1&*F 0$%>&,$ +>1.=&>F =A,F *$ +@+,14$*$ @&G4$*&G$%+ &,1%$41+%&, $ 4,+& 0$%>&,& ,.%H$*+3 9$>&+,1$ $>4GF )4%+%& >.*&>$1&@+ B, G.,+*+ $,+f&$*+N 04=%$=4D&$, 0$4 )&O4G+3 5%$1$H+,14* 0+ $)%+0+$GF 4%(+,[+& (&,+>.*.(&>+ e H+1%.1%+f$1 ^& $>&) O.*&,&> B, 0$%>&,$ +>1.=&>F ,+>.H=*&>$1FN *$=$%.0>.=&+ =+,1%4 1%$1$H+,14* 0=+>&O&>3 8&,1&&,O*$H$1.%&&*+ ,+01+%.&)&+,+ ^& .=&.&G&& 0+ O.*.0+0> B, 0$%>&,$ ,+>.H=*&>$1F $14,>& >A,) 4%HF%&H %+G.*@$%+$ H+)&>$H+,1.$0F3 >3 $=.=*+f&$ 41+%.=*$>+,1$%F +01+ . 4%(+,[F .D01+1%&>$*F H$k.%Fq B, *&=0$ 1%$1$H+,14*4& >.H=*&>$[&&*+ )4> *$ )+>+0 O+1$* ^& H$1+%,3 6*+H+,14* =$1.*.(&> )+ =*+>$%+ +01+ O.%H$%+$ 4,4& ]+H$1.H B, 0=$[&4* =*$>+,1$% >4 )+>.*$%+$ $>+01+&3 ;+D414* +01+ D%40> >4 )4%+%+ &,1+,0FN H+1%.%$(&+ $D4,)+,1F ^& $*1+%$%+$ 01F%&& (+,+%$*+N 1.$1+ 0+H,+*+ $=$% *$ . (%$@&)F B, 1%&H+01%4* :::3 U.>4* ]+H.%$(&> ^& 14*D4%F%&*+ )+ >.$(4*$%+ 04,1 >.,0+>&,[$ =&+%)+%&& )+ 0A,(+ *$ ,&@+*4* ]+H$1.H4*4& )$% 0& +f1+%,q 1%$1$H+,14* )+ 0=+>&$*&1$1+ @&G+$GF 0$*@$%+$ @&+[&& H$H+&N =%+G+%@$%+$ O+%1&*&1F[&& 4,)+ >.,)&[&&*+ 1+],&>+ . =+%H&1 ^& 0$*@$%+$ @&+[&& >.=&*4*4&3 )3 %4=14%$ 41+%&,F %+=%+G&,1F $=$%&[&$ 4,+& 0.*4[&& )+ >.,1&,4&1$1+ *$ ,&@+*4* 0+(H+,14*4& 41+%&, B, 0$%>&,$ )+ 1%&H+01%4 :: 0$4 1%&H+01%4 :::3 74=14%$ 41+%&,F =.$1+ $=$%+ B, 1&H=4* 0$%>&,&& 0$4 &,1%$=$%14Hq +01+ . 4%(+,[F .D01+1%&>$*F H$k.%F3 C, 0&,)%.H4* )+ =%+%4=14%F 41+%&,F )4%+%+$ +01+ B,0.[&1F )+ . 1%&$)F 0&H=1.H$1&>Fd ]&=+%1.,&+ 41+%&,FN &,+* `$,)* *$ *&H&1$ 0+(H+,1 e >.%= ^& 1+,0&.,$%+$ *&($H+,1+*.% %.14,)+3 C, 0&,)%.H4* )+ %4=14%F 41+%&,F >.H=*+1F )4%+%+$ +01+ D%41$*FN ^.>.(+,FN >.,1%$>[&&*+ 41+%&,+ )4%+%.$0+ B,>+1+$GF D%40>N OF14* +01+ H.%1 >+* H$& O%+>@+,1q 1%$1$H+,14* +01+ )+ 0=+>&$*&1$1+ e 1%$1$H+,14* ^.>4*4& ]+H.%$(&>N ]&01+%.%$O&+r]&01+%+>1.H&+ )+ ,+>+0&1$1+N %++>]&*&D%$%+3 N@&*&*/ '>?&/G/&?@H 9%&,>&=$*+*+ 1+],&>& )+ $,$*(+G&+ =+,1%4 ,$01+%+$ ,$14%$*F 04,1 1+],&>& ,+O$%H$>.*.(&>+ 0& 1+],&>& O$%H$>.*.(&>+3 9%+(F1&%+$ =0&].*.(&>F =+,1%4 ,$01+%+$ ,$14%$*F ' =%+G&,1F (%$@&)+& 1%$@$*&4* I& 1&=4%&*+ )+ $,$*(+G&+3 g&&1.$%+$ =$%14%&+,1F 1%+D4&+ 0F I1&+ >F ,$I1+%+$ &H=*&>F I& )4%+%+ B, )&@+%0+ (%$)+ )$% >F +f&01F H+1.)+ )+ >.HD$1+%+ $ $>+01+&$3 P40E&,+%+$ +H.E&.,$*F ' $%+ @$*.$%+
"S\
H$& $*+0 B, >$G4* O+H+&*.% =%.@+,&,) )&, H+)&& O$H&*&$*+ +>]&*&D%$1+ e =%+G+,E$ B, 0$*$ )+ ,$I1+%+ $ 0.E4*4&N H$H+&N O$H&*&+&N =%&+1+,&*.% 0$4 %4)+*.% =.$1+ $@+$ . H$%+ @$*.$%+ =+,1%4 =$%14%&+,1F3 #$0$k4* &,1%$=$%14HN 1+%$=&+ >$*) r %+>+N ]&)%.1+%$=&$ 04,1 1+],&>& )+ $,$*(+G&+ >$%+ >%+0> >.HO.%14* =$%14%&+1+&q O.*.0&%+$ *.% +01+ @$%&$D&*F O4,>[&+ )+ ).1F%&*+ >*&,&>&*.% )+ .D01+1%&>F ^& )+ =%+O+%&,[+*+ =+%0.,$*4*4& )+ *$ 0$*$ )+ ,$^1+%+3 C, >$)%4* $,$*(+G&+& 0&01+H&>+N .=&.&G&& .>4=F 4, *.> &H=.%1$,1 )$1.%&1Fd $)H&,&01%F%&& 4I.$%+N =.0&D&*&1F[&& *$%(& )+ H$,+@%$%+d $)H&,&01%$%+ 04D>41$,$1FN &,1%$H40>4*$%FN &,1%$@+,.$0FN ,4 ,+>+0&1F =+%0.,$* >$*&O&>$1 >$ B, >$G4* $,$*(+G&+& =+%&)4%$*+N 1+],&>$ +01+ =4E&, &,@$G&@F3 6f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q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q +01+ 0&,(4%$ H+1.)F O.*.0&1F )+ *$ B,>+=414* 1%$@$*&4*4&N &,1%$=$%14H I& =.01=$%14H I& >$%+ =.$1+ O& 1%$,0O.%H$1F B, $,+01+G&+ =+%&)4%$*F OF%F $ ,+>+0&1$ $*1+ 1+],&>& &,@$G&@+3 7>+'A/Y''C* H/?*&>* /C* />/C(*Q'*' G*&'+@&/C*^ H&>I.%$%+$ )4%+%&&N ]&=+%1+,0&4,+ &,)40F )+ 0$%>&,FN >+%+%+$ =$>&+,1+&N ,$I1+%& $,1+%&.$%+ )4%+%.$0+N =$1.*.(&+ >$%)&.@$0>4*$%FN 8,$*(+G&$ $k41F =$>&+,1$ 0F ,4 0&H1F >.,1%$>E&&*+ 41+%&,+ )4%+%.$0+N B, >.,0+>&,EF O%+>@+,E$ >$%)&$>F I& %+0=&%$1.%&+ 04,1 ,.%H$*+N +O+>14* O&&,) =%.1+>1&@ 7>+'A/Y'' @?*&'>*^ ]&=+%1.,&+ 41+%&,F r 1%$@$*&4 )&0j&,+1&>N )&01.>&+ )+ >.*N &,04O&>&+,E$ =*$>+,1$%FN 41+% >&>$1%&>+$* Q&,)&>$E&$ +01+ *&H&1$1FR 7>+'A/Y'' "*?/C*^ ' 0$%>&,$ H4*1&=*FN OF1 H$>%.0.H OF%F )&0=%.=.%E&+ +@&)+,1F OF1'D$G&,N =%+G+,1$E&& )&01.>&>+ >4 H+>$,&0H )+ ,$I1+%+N ,$I1+%+ =%+H$14%FN $=*&>$E&+ )+ O.%>+=0N OF1 >4 %+01%&>E&+ B, >%+I1+%+$ &,1%$41+%&,FN OF1 H$*O.%H$1N OF1 H.%1 $,1+=$%14H3 2.,1%$&,)&>$[&&*+ $,$*(+G&+& =+%&)4%$*+d %+O4G4* =$>&+,1+&N >.$(4*.=$1&+N &,O+>E&+ *.>$*FN &,01$D&*&1$1+ ]+H.)&,$H&>F H$1+%,FN 1%.HD.>&1.=+,&+ ' 1%.HD.>&1+*+ 04D "YY YYYrH S %+=%+G&,1F >.,1%$&,)&>$E&+ )+ =4,>E&+ *.HD$%FN =$>&+,1+ >4 ,&@+* 0>FG41 )+ +)4>$E&+N ,+>..=+%$,1+N H$%& H4*1&=$%+3 4>/C(*Q'/ G*&'+@&/CF 4,&>F ' >.,01F B, &,k+>1$%+$ B, 0=$E&4* =+%&)4%$*N B, ).GF 4,&>FN $ 4,4& $,+01+G&> *.>$*3 5+],&>&*+'>?*&H'?*>?F H.)+%,+ $0.>&$GF I& 4, 4>/C(*Q'/ G*&'+@&/CF ' >.,01F B, .=&.&)3 $)H&,&01%$%+$N *$ &,1+%@$*+ @$%&$D&*+ )+ 1&H=N $ 4,.% ).G+ )+ $,+01+G&>+ *.>$*+ $)$=1$1+ ,+>+0&1FE&*.% )+ $,$*(+G&+3 :,1+%@$*4* )&,1%+ $)H&,&01%F%& +01+ )+1+%H&,$1 )+ H+)&>N >4,.0>A,) 1&=4%&*+ )+ $,+01+G&>+ O.*.0&1+ 0$4 *$ >+%+%+$ =$>&+,1+&3
"SX
4>/C(*Q'/ G*&'+@&/CF A)>?'>@F e $)H&,&01%$%+$ $,+01+G&>+*.% *.>$*+ 0+ O$>+ >4 $k41.%4* 4,4& &,k+>1.H$1q $)H&,&01%$%+$ 0+ O$>+ >.,1&,44 *$ 4, %&1H =%+01$D&*&1N =$%14%&+,1$ $@A,) =.0&D&*&1$1+$ $)H&,&01%F%&& *$ ,+@.&+ $ 4,.% D.*404%& 04=*&H+,1$%+3 4>/C(*Q'/ &/D'+'/>F k' G*&'+@&/CF A)HK'>/?* e 0+ $)H&,&01%+$GF &,1%$%$]&)&$, 4, $,+01+G&> 0$4 .=&.&) =+,1%4 &,01$*$%+$ %$=&)F $ +O+>14*4& $,$*(+G&> $=.& 0+ =*$0+$GF >$1+1+%4* B, 0=$[&4* =+%&)4%$*N 1+],&>$ )+ $,$*(+G&+ O&&,) 4,$ )&, >+*+ =%+G+,1$1+ $,1+%&.%3 9%&,>&=$*+*+ 04D01$,[+ O.*.0&1$ B, $,$*(+G&$ =+%&)4%$*F 04,1d $,+01+G&>$ *.>$*+ e D4=&@$>$&,F ^& %.=&@$>$&,FN .=&.&G& e O+,1$,&*N %+H&O+,1$,&* ^& $(.,&^1& $)%+,+%(&>& e >*.,&)&,F3 `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d >$%)&.1.f&>&1$1+ )+=+,)+,1F )+ ).GFN )+D41 *+,1 $* +O+>14*4& $,$*(+G&> ,+>+0&1A,) $)H&,&01%$%+$ )+ .=&.&G&N ]&=.1+,0&4,+ ,+>+0&1A,) +O+)%&,F =+,1%4 >.%+>1$%+N =$%+01+G&& =%.O4,)+ ^& D*.> H.1.%3 P>F)+%+$ >.,>+,1%$[&&*.% &H=4,+ >%+^1+%+$ ).G+*.% $)H&,&01%$1+ ^& &H=*&>&1 $,$*(+G&+ =+ H$& H4*1+ )+%H$1.$H+3 P>F)+%+$ >.,>+,1%$[&&*.% &H=4,+ $0.>&+%+$ 4,4& .=&.&) B, $)H&,&01%$%+$ =+%&)4%$*F =+,1%4 =.1+,[$%+$ +O+>14*4&3 8,$*(+G&$ =+%&)4%$*F >.,1&,4F I& $,$*(+G&$ =+%&)4%$*F >.,1%.*$1F )+ =$>&+,1F =%+G&,1F $@$,1$k+ B, 0+,04* H+,E&,+%&& >.,01$,1+ $ ,&@+*4*4& )+ $,$*(+G&+ )$% ,+>+0&1F &,k+>1.H$1N =+%0.,$* &,01%4&1 =+,1%4 =%.(%$H$%+$ $>+014&$N 1&H= H$%+ )+ &,01$*$%+ $ +O+>14*4& $,$*(+G&>N =+%&>.*4* 04=%$).GF%&&N H.D&*&1$1+ %+)40F $ =$%14%&+,1+&3 8,$*(+G&$ =+%&)4%$*F &,O*4+,E+$GF H+>$,&0H4* )+ ,$I1+%+d >%+I1+%+$ *$1+,E+& =+%&.$)+& : $ ,$I1+%&&N )4%$1$ =+%&.$)+& : $ ,$I1+%&& 0>$)+ I& @&1+G$ )+ )&*$1$%+ $ >.*4*4& >%+I1+N 014)&& $4 $%F1$1 >F $>1&@&1$1+$ >.,1%$>1&*F 41+%&,F 0+ .=%+I1+ =+,1%4 . 0>4%1F =+%&.$)F )+ 1&H= QSY'_Y H&,R H$& $*+0 B, >$G4%&*+ 4,)+ 0+ $)H&,&01%$ $)%+,$*&,F =+%&)4%$*N =%+*4,(&%+$ =+%&.$)+& $ :: $ $ ,$I1+%&& =%&, =&+%)+%+$ %+O*+f4*4& +f=4*G&@N =&+%)+%+$ 1.,404*4& =*$,I+4*4& =+*@&$, 0& B,1A%G&+%+$ %.1$E&+& $,1+%&.$%+ $ =%+G+,1$E&+& 0>F)+%+$ =%+0&4,&& &,1%$$D).H&,$*+3 N@&*&*/ G).?)G*&/S'* A*Q/&'/>F ;4%+%+$ =.01.=+%$[&+ >+G$%&$,F $%+ ).4F >.H=.,+,1+ e )4%+%+$ *$ ,&@+*4* &,>&G&+& .=+%$1.%&& QH+)&$,F 0$4 1%$,0@+%0$*FR ^& )4%+%+$ @&0>+%$*FN =%.O4,)F )$1F )+ &,>&G&$ 41+%4*4& (%$@&)N H.D&*&G$%+$ &,1%$.=+%$1.%&+ $ $>+014&$N >.,1%$>[&&*+ 41+%&,+ =.01=$%14H =+,1%4 >.,0.*&)$%+$ ]+H.01$G+&3 5+],&>&*+ )+ $,$*(+G&+ =.01.=+%$1.%&+ 04,1 *+($1+ )+ 1+],&>$ )+ $,+01+G&+ O.*.0&1F *$ .=+%$[&+ >+G$%&$,F3 -$ $,+01+G&$ =+%&)4%$*F 0+ H+,[&,+ >$1+1+%4* "?'?b .%+ =.01.=+%$1.% ^& 0+ $)H&,&01%+$GF *$ >+%+%+$ =$>&+,1+& $,+01+G&>d D4=&@$>$&,F YN"?Z{ 0$4 YN?Z{ b e \ H*3 80.>&+%+$ >4 .=&.&) 0+ O$>+ O4,>[&+ )+ &,1+%+04* )+ $ .D[&,+ 4, +O+>1 %$=&)3 9+,1%4 >+G$%&$,$ >4 $,+01+G&+ %$]&)&$,F ,+>+0$%4* )+ $,$*(+G&+ B, =.01.=+%$1.% +01+ H$& H&> &$% H.H+,14* B, >$%+ =$>&+,1$ 0.*&>&1F $,$*(+G&+ +01+ H$& B,)+=F%1$1 >.H=$%$1&@ >4 >+* )&, $,+01+G&$ (+,+%$*F >4 &,14D$[&+ .%.1%$]+$*F3 P+ $)H&,&01%+$GF .=&.&G& B, =%&H+*+ "? .%+
"bY
=.01.=+%$1.% $0.>&$[& >4 $>+1$H&,.O+, &,1%$@+,.0 B, H&>%.=+%O4G&& =A,F *$ ?b e b\ .%+ =.01.=+%$1.%3 ;4=F ?b .%+ )+ *$ >+G$%&$,F 0+ $)H&,&01%+$GF )&>*.O+,$> &,1%$H40>4*$% =+,1%4 $,$*(+G&+3 8)H&,&01%$%+$ 1$%)&@F =.01.=+%$1.% $ .=&.&G&*.% +01+ )+ +@&1$1 )$1.%&1F 1%+>+%&& $>+01.%$ B, *$=1+ ^& %+01%A,(+%&& $>1&@&1F[&& H$H+&3 X'KC')(&/"'* "3 2.,,+% 6N #$%(4*&+0 7N -&4 #N PH&*+, PxN 9.%(+0 7JN •~., 23 ' g$(&,$* )+*&@+%} $,) 0+%4H H$%j+%0 .O &0>]+H&$r%+=+%O40&., &,k4%}3 :,1 m L},$+>.* /D01+13 ?YY_ 84(qXbQ?RdX_'"Y?3 ?3 -&+)H$, 7N L%$,1 -N :(&)D$0]&$, PN m$H+0 :N #>-+.) 8N Pj&**+%, -N 8j+%*4,) #3 :,1%$41+%&,+ =%+004%+N &0>]+H&$ H$%j+%0N $,) +f=+%&+,>+) =$&, )4%&,( $)H&,&01%$1&., .O $ @$0.=%+00&, g"$ %+>+=1.% $,1$(.,&01 &, 0=.,1$,+.40 $,) @$0.=%+00&,'&,)4>+) )}0H+,.%%]+$3 8>1$ /D01+1 L},+>.* P>$,)3 ?YY_q\ZQ?Rd?Ya'""3 S3 2~&+j ; ' 5]+ &H=$>1 .O +)4>$1&., &, D&%1]&,( 0>]..*0 ., 1]+ >.4%0+ .O =%+(,$,>}N *$D.%N =4+%=+%&4HN $,) ,+.,$1$* >$%+3 8,, 8>$) #+) P1+1&,3 ?YY_qZ?Q"RdaX'XY3 b3 #+*G$>j 7N 5$+,G+% 9N J+*)H$, 9N •&,>] 783 ' -$D.4% &0 01&** =$&,O4* $O1+% =%+=$%+) >]&*)D&%1] 1%$&,&,( 2$, #+) 800.> m3 "X\" 84( "Zq"?ZQbRdSZa'_S3 Z3 x$*)+,01%…H
"b"
N@&*&*/ W> G/?)C)('/ &*.G'&/?)&'* 6'D/' 2)A/hV 7@C'/i9&'.?'>/ 2)A/lV TC)&'> 6'?@h "3 ;&0>&=*&,$ )+ P+H&.*.(&+ H+)&>$*F ?3 ;&0>&=*&,$ )+ #+)&>&,F )+ 4%(+,[F <,&@+%0&1$1+$ )+ #+)&>&,F ^& J$%H$>&+ oL%&(.%+ 53 9.=$o :$^&
;4%+%+$ +01+ 4, 0&H=1.H &H=.%1$,1 B, =$1.*.(&$ %+0=&%$1.%&+N )$% ,4 $1A1 =%&, =%+@$*+,[FN $@A,) B, @+)+%+ >F )&0=,++$ +01+ B,1A*,&1F H4*1 H$& O%+>@+,1N >A1 H$& $*+0 =%&, =%.D*+H+*+ )+ )&$(,.01&> )&O+%+,[&$* =+ >$%+ *+ %&)&>FN )+ H4*1+ .%& >4 $O+>[&4,& >$%+ >$4G+$GF 4, %&0> @&1$* &H+)&$1N >4H 04,1 >+*+ >$%)&$>+3 #$& H4*1N =$>&+,14* >4 $O+>[&4,& =4*H.,$%+ >$%+ =.1 )+1+%H&,$ )4%+%+ 1.%$>&>F $0.>&$GF O%+>@+,1 >.H.%D&)&1F[& >$%)&$>+ >$%+N )+ $0+H+,+$ =.1 >$4G$ )4%+%+3 601+ )&, $>+01 =4,>1 )+ @+)+%+ +0+,[&$* 0F 0+ >4,.$0>F >$%$>1+%&01&>&*+ )4%+%&& $>41+ )&, )&O+%&1+ =$1.*.(&& =4*H.,$%+N =+,1%4 %+$*&G$%+$ 4,4& )&$(,.01&> )&O+%+,[&$* >.%+>1 ^& =%.H=1 >4 +@+,&H+,1+ $>41+ $O+%+,1+ =$1.*.(&+& >$%)&$>+3 T4 H$& =4[&, &H=.%1$,1F +01+ >4,.$^1+%+$ 4,.% =%&,>&=&& )+ D$GF =+,1%4 >.,1%.*4* )4%+%&& >%.,&>+ $0.>&$1+ B, $,4H&1+ $O+>[&4,& =4*H.,$%+N O&&,) >4,.0>41+ &H=*&>$[&&*+ $>+01+&$ B, $*1+%$%+$ >$*&1F[&& @&+[&& =$>&+,[&*.%3 6*A/>'.H*C* +@&*&'' '> G/?)C)('/ &*.G&/?)&'* 94*H.,&& 04,1 &,+%@$[& )+ O&*+1+ ,+%@.$0+ @+(+1$1&@+ >$%+ =%.@&, )&, ,+%@4* @$(N =%+>4H ^& )&, *$,[4%&*+ 0&H=$1&>+ 1.%$>$*+3 C, >.H=.,+,[$ O&D%+*.% ,+%@.$0+ =4*H.,$%+ 0+ (F0+0> ^& O&D%+ 0+,0&1&@+ >+,1%&=+1+3 T+%@4* @$( $%+ . >.,1%&D4[&+ >$=&1$*F B, &,+%@$[&$ =4*H.,4*4&3 T+%@&& )+ =%.@+,&+,[F @$($*F 04,1 >+& H$& ,4H+%.^&N =.%,&,) )&, >+& ).& ,+%@& @$(&N )%+=1 ^& 01A,(N ^& O.%HA,) =*+f4%&*+ =4*H.,$%+N )&0=40+ B, k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f4* )+ ]&=+%&,O*$[&+ Ql+%&,('`%+4+%R3 P'$ ).@+)&1 +O+>14* )+ )&H&,4$%+ $ 0+,G$[&+& )+ )&0=,++ =%&, 01&H4*$%+$ $>+01.% %+>+=1.%&N >$ )+ +f+H=*4 =%&, &,]$*$%+$ )+ O4%.0+H&) Q"R3 : T(/(,)%*'' 1( 5")'"1(*( /+ 212,)2*( *2,'13 DTNT8E 04,1 1+%H&,$[&& ,+%@.$0+ ,+H&+*&,&G$1+N >.,+>1$1+ *$ $O+%+,[+ @$($*+ H&+*&,&G$1+ Q8pR3 8>+^1& %+>+=1.%& &,1+%@&, B, %+(*$%+$ =%.>+04*4& )+ &,O*$[&+r)+O*$[&+ =4*H.,$%F3 7870 =.1 O& $>1&@$[& )+ . @$%&+1$1+ O.$%1+ *$%(F )+ 01&H4*&N H+>$,&>& 0$4 >]&H&>&N &%&1$,[& Q$H.,&$>N @$=.%& )+ +1+%N O4H )+ [&($%FN +1>RN H+)&$1.%& &,O*$H$1.%&N >&1.j&,+N O&&,) >4,.0>4[& ^& >$ %+>+=1.%& =4*H.,$%& &%&1$,[&3 9,+4H.1.%$f4* %+=%+G&,1F . 0&14$[&+ )+ 01&H4*$%+ &H=.%1$,1F $ 78703 P1&H4*$%+$ $>+014& 1&= )+ %+>+=1.%& $ O.01 $0.>&$1F >4 0+,G$[&$ )+ )&0=,++ 0$4 >4 $(%$@$%+$ $>+01+&$ ^& >4 140+$ &%&1$1&@F3 7+>+=1.%&& )+ B,1&,)+%+ >4 $)$=1$%+ %$=&)F *.>$*&G$[& B, %+(&4,& $*+ >F&*.% $+%&+,+ B, =%.f&H&1$1+$ @+,4*+*.% =+%&D%.,^&>+ =.1 O& $>1&@$[& )+ H.)&O&>F%& $*+ @.*4H4*4& )+ *&>]&) &,1+%01&[&$*3 801O+*N >.,(+01&$ =4*H.,$%F =.$1+ $>1&@$ 7870N O&&,) =%&, $>+01 +O+>1 *$ D$G$ 4,4&$ )&,1%+ H+>$,&0H+*+ )&0=,++& Q?R3
"b?
: T(/(,)%*'' ='$*(:L 04,1 %+>+=1.%& )+ 1&= k4f1$'>$=&*$% Q%+>+=1.%& mR ^& =.1 O& )+ 1&= D%.,^&>N *$ ,&@+*4* H4>.$0+& D%.,^&>+N 0$4 )+ 1&= =4*H.,$%N B, =$%+,>]&HN B, O4,>[&+ )+ %+*$[&$ 0=$[&$*F >4 1+%&1.%&&*+ >$=&*$%+ $=$%[&,A,) >&%>4*$[&+& ,41%&1&@+N %+0=+>1&@ O4,>[&.,$*+ $*+ =4*H.,4*4&3 -.>$*&G$%+$ $)&$>+,1 >$=&*$%+*.% $*@+.*$%+ =+%H&1+ $>1&@$%+$ =%+>.>+ $ %+>+=1.%&*.% m =4*H.,$%&N *$ +f1%$@$G$%+$ )+ *&>]&) B, &,1+%01&[&4 0$4 $*@+.*+N >.,(+01&$ =4*H.,$%F O&&,) 4, 01&H4*$,1 =41+%,&> $* $>+01.% %+>+=1.%&3 P1&H4*$%+$ O$%H$>.*.(&>F $ %+>+=1.%&*.% m $ )+H.,01%$1 +O+>1+ )+ )&0>.,O.%1N $%04%F 1.%$>&>FN ^& B, H$& H&>F HF04%F )+ )&0=,++ QSR3 ;+^& >+*+ ).4F O.&[+ =*+4%$*+N @&0>+%$*F ^& =$%&+1$*F $4 .%&(&,+ +HD%&.*.(&>F >.H4,FN 1.14^& +f&01F )&O+%+,[+ H$k.%+ )&, =4,>1 )+ @+)+%+ $* $,$1.H&+& ^& O&G&.*.(&+& $>+01.%$N &,>*40&@ )&, =4,>1 )+ @+)+%+ $* &,+%@$[&+& 0+,0&1&@+3 9*+4%$ @&0>+%$*F +01+ &,+%@$1F +f1+,0&@ )+ O&*+1+ ,+%@.$0+ >4 .%&(&,+$ B, ,+%@4* @$( ^& 1%4,>]&4* ,+%@.0 0&H=$1&>N )$% ,4 >.,[&,+ 1+%H&,$[&& ,+%@.$0+ ,.>&>+=1&@+N H.1&@ =+,1%4 >$%+N $1&,(+%+$ $>+01+&$ )+ )&@+%0+ =%.>+0+ =$1.*.(&>+ 0$4 B, >$)%4* $,4H&1.% &,1+%@+,[&& H+)&>.'>]&%4%(&>$*+ ,4 )+1+%H&,F 0+,G$[&& )4%+%.$0+3 6f&01F B,0F . H4*1&14)&,+ )+ 1+%H&,$[&& ,+%@.$0+ 0+,G&1&@+ >$%+ &,+%@+$GF =*+4%$ =$%&+1$*FN $1A1 B, =.%[&4,+$ >.01$*F >A1 ^& B, >+$ )&$O%$(H$1&>F3 9*+4%$ >.01$*F ^& =$%1+$ =+%&O+%&>F $ =*+4%+& )&$O%$(H$1&>+ 04,1 &,+%@$1+ )+ O&D%+ ,+%@.$0+ >4 .%&(&,+$ B, ,+%@&& &,1+%>.01$*& >.%+0=4,GF1.%& ,&@+*4*4& %+0=+>1&@3 P1&H4*$%+$ 1+%H&,$[&&*.% ,+%@.$0+ )&, $>+01+ G.,+ )+1+%H&,F 0+,G$[&& )4%+%.$0+ *$ ,&@+*4* =+%+1+*4& 1.%$>&> $)&$>+,13 c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f=*&>$[&$ O&&,) )$1F )+ &,+%@$[&$ =F%[&& 04=+%&.$%+ $ $>+014&$ ^& =%&, O&*+1+ $=$%[&,A,) ,+%@&*.% &,1+%>.01$*&3 ;4%+%+$ )+ 1&= =*+4%&1&> 0&H[&1F 0&H4*1$, B, =$%1+$ &,O+%&.$%F $ ]+H&1.%$>+*4& ^& *$ ,&@+*4* 4HF%4*4& )+ $>++$^& =$%1+ +01+ =$1.(,.H.,&>F =+,1%4 &H=*&>$%+$ =*+4%+& )&$O%$(H$1&>+N O&&,) +f=*&>$1F )+ &,+%@$[&$ )4D*F $ $>+01+&$N )&, ,+%@4* O%+,&> =+,1%4 =.%[&4,+$ >+,1%$*FN %+0=+>1&@ )&, ,+%@&& &,1+%>.01$*&N =+,1%4 G.,$ =+%&O+%&>F3 -$ $,4H&[& =$>&+,[& >4 $O+>1$%+ =*+4%$*F $ O.01 )+0>%&0F . )4%+%+ >4 >$%$>1+%&01&>& $1&=&>+N 04%)FN )&O4GFN &H=%+>&0 )+*&H&1$1FN 0=%+ )+.0+D&%+ )+ )4%+%+$ =*+4%&1&>F 1&=&>F3 8>+01 1&= )+ )4%+%+N *$ =$>&+,[& >4 $O+>1$%+ =*+4%$*FN +01+ )+.0+D&1 )+ 04(+01&@F =+,1%4 +1&.*.(&$ H$*&(,F $ $O+>[&4,&& Qb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f>&1$1.$%+N
"bS
*$ ,&@+*4* >.$%,+*.% ).%0$*+ H+)4*$%+3 8>1&@$%+$ >+*4*+*.% (*&$*+N $ >$,$*+*.% )+ >$*>&4 ^& 0.)&4N )+1+%H&,F . 0+,0&D&*&G$%+ *$ ,&@+*4* >.$%,+*.% ).%0$*+ ^& $ >+,1%&*.% 04=+%&.%&3 7+G4*1$,1$ $>+01.% =%.>+0+ +01+ %+=%+G+,1$1F )+ ]&=+%+f>&1$D&*&1$1+N )4%+%& 0=.,1$,+N ]&=+%$*(+G&+ ^& $*.)&,&+ B, $%&&*+ $)&$>+,1+ *+G&4,&*.% ,+%@.$0+ Q_R3
0?')C)('/ +@&*&'' W> G/?)C)('/ &*.G'&/?)&'* I1"+%"J((1" $,%,$0"+4/0()" K( "4$("4+1 $1"+%,1
:,>&)+,[$ (*.D$*F $ =,+4H.,&+& >.H4,&1$%+ @$%&$GF B, *&H&1+ O.$%1+ *$%(&N )+ *$ "\N? >$G4%& *$ "YYY =+%0.$,+'$, =+,1%4 @A%01+ B,1%+ _Z'_X $,&N =A,F *$ Z?NS >$G4%& *$ "YYY )+ =+%0.$,+'$, =+,1%4 @A%01+ =+01+ \Z )+ $,&3 C, P1$1+*+ <,&1+N *$ (%4=$ )+ @A%01F =+01+ \Z $,&N 4,4* )&, ?Y )+ 04D&+>[& =%+G&,1F 4, ,.4 +=&0.) )+ =,+4H.,&+ >.H4,&1$%F B, O&+>$%+ $, QaR3 ;4%+%+$ )+ 1&= =*+4%&1&> $=$%+ *$ H$k.%&1$1+$ =$>&+,[&*.% >4 =,+4H.,&+ >.H4,&1$%F Q\_N\{RN $*F14%& )+ 0&H=1.H+*+ ^& 0+H,+*+ >4,.0>41+ &, H.) >*$0&>d O+D%FN 140+ >4 +f=+>1.%$[&+ H4>.=4%4*+,1FN *+4>.>&1.GF3 ;4%+%+$ %+=%+G&,1F 4, 0&H=1.H &H=.%1$,1N $@A,) B, @+)+%+ >F >+%>+1F%&*+ >*&,&>+ $%$1F ^& . =+%0&01+,[F O%+>@+,1F $ $>+014& 0&H=1.HN =+01+ SY )+ G&*+ *$ "S{ )&,1%+ =$>&+,[& Q\R3 ;4%+%+$ =*+4%&1&>F )&, =,+4H.,&+ $=$%+ *$ ,&@+*4* G.,+& 1.%$>&>+ $)&$>+,1+ =$%+,>]&H4*4& $O+>1$1 ^& +01+ (+,+%$1F =%&, &,O*$H$[&$ =*+4%+& =$%&+1$*+N 0+>4,)$% &,O+>[&+& =$%+,>]&H4*4& =+%&O+%&>N 04D=*+4%$*3 ;$1+*+ >*&,&>+ $%$1F >F bY{ )&,1%+ =$>&+,[&& >4 =,+4H.,&+ >.H4,&1$%F )+G@.*1F =*+4%+G&+ =$%$=,+4H.,&>F B, >4%04* +@.*4[&+& D.*&& QXR3 #$k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r*N >4 *$>1&>')+]&)%.(+,$G$ =+01+ "YYY <:r* ^& =l 04D aN? $%$1F . +@.*4[&+ O%+>@+,1F 0=%+ +H=&+H ^& &H=4,+ %$=&) )%+,$k4* =*+4%$* 0$4 $*1+ H.)$*&1F[& 1+%$=+41&>+ )+ 1&= >]&%4%(&>$*3 <, =l 04D aNY &,)&>F . +@.*4[&+ >+%1F 0=%+ +H=&+H3 -&>]&)+*+ )&, =*+4%+G&$ =$%$=,+4H.,&>F >4 =l =+01+ aNS ,+>+0&1F %$%+.%& )%+,$k =*+4%$* ^& )+ .D&>+& 0+ %+0.%D 04D 1%$1$H+,14* H+)&>$H+,1.0 $* =,+4H.,&+& Q"YR Q""R3 6H=&+H4* =*+4%$* =.$1+ 0F $=$%F ^& OF%F *+(F14%F >4 =,+4H.,&$d =.011%$4H$1&>N )4=F >]&%4%(&+ 1.%$>.=4*H.,$%FN 0+>4,)$% &,O+>1F%&& 4,4& ]+H.1.%$f 0$4 =,+4H.1.%$f 0$4 =%&, 1%$,0H&1+%+$ =%.>+04*4& &,O+>[&.0 )+ *$ 04=4%$[&& 04D)&$O%$(H$1&>+3 I0"+4/./%,@+1
9,+4H.1.%$f4* %+=%+G&,1F $O+>[&4,+$ (+,+%$1F )+ =F1%4,)+%+$ $+%4*4& B, >$@&1$1+$ =*+4%$*F3 ;4%+%+$ 1.%$>&>F ^& )&0=,++$ D%40> &,01$*$1+ %+=%+G&,1F 0&H=1.H+ =%+G+,1+ *$ $=%.$=+ 1.[& =$>&+,[&& >4 =,+4H.1.%$fN >+*+ ).4F 0&H=1.H+ >.+f&01A,) =A,F *$ \Z{ )&, >$G4%&3 ;4%+%+$ 1.%$>&>F $%+ >$%$>1+%&01&>&*+ )4%+%&& =*+4%&1&>+ O&&,) 04D O.%HF )+ k4,(]& &,1+,0N >4 &%$)&+%+ B, 4HF%4* &=0&*$1+%$*N @$%&$D&*F >4 %+0=&%$[&$ ^& =.G&[&$ =$>&+,14*4&3 C, >$G4* =,+4H.1.%$f4*4& =%&H$% 0=.,1$, ,4 +f&01F 0+H,+ =%+H+%(F1.$%+ &,01$*F%&& =,+4H.1.%$f4*4&3 9$>&+,[&& 1&,+%&N $,1+%&.% 0F,F1.^&N 1.*+%+$GF )+014* )+ D&,+ )+0>%+^1+%+$
"bb
D%40>F $ >$=$>&1F[&& @&1$*+N )+^& )4%+%+$ =.$1+ $@+$ &,1+,0&1$1+ 0+H,&O&>$1&@F >*&,&>3 9,+4H.1.%$f4* 0=.,1$, 0+>4,)$%N *$ =$>&+,[&& >4 =$1.*.(&+ $,1+%&.$%FN O%+>@+,1 D%.,].=,+4H.=$1&+ .D01%4>1&@F >%.,&>FN =%.)4>+ )&,>.*. )+ )4%+%+N 4, %F04,+1 O4,>[&.,$* %+0=&%$1.% &H=.%1$,1N $@A,) B, @+%+%+ $*1+%$%+$ =%++f&01+,1F $ @+,1&*$[&+& *$ >$%+ 0+ 04=%$$)$4(F 0>F)+%+$ D%41$*F $ >$=$>&1F[&& @&1$*+ =%&, =,+4H.1.%$f3 C, =,+4H.1.%$f4* 0=.,1$, =%&H$% )4%+%+$ 1.%$>&>F 0+ $H+*&.%+$GF B, =%&H+*+ ?b .%+N >]&$% B, $D0+,[$ %+G.*4[&+& $>4H4*F%&& )+ $+%3 C, +@.*4[&+N =,+4H.1.%$f4* =%&H$% D&,+ 1.*+%$1 >*&,&> =.$1+ ,+>+0&1$ =A,F *$ "? 0F=1FHA,& =+,1%4 %+G.*@$%+$ >.H=*+1F3 C, =,+4H.1.%$f4* 0=.,1$, 0+>4,)$% )4%+%+$ 1.%$>&>F +01+ )+ .D&+>+& =+%0&01+,1FN >4 4, %F04,+1 >*&,&> H$& &H=.%1$,1 Q"?R3 #+>$,&0H4* +f$>1 $* )4%+%&& B, =,+4H.1.%$f ,4 +01+ >4,.0>413 6f&01F ).@+G& +f=+%&H+,1$*+ =%&@&,) %.*4* &,O*$H$[&+& =*+4%$*+ +.G&,.O&*&>+N )+=+,)+,1+ )+ 5TJ'$*O$ ^& %+0=.,0&@F *$ >.%1&>.1+%$=&+N B, =,+4H.1.%$f Q"SR3 9,+4H.H+)&$01&,4* 0=.,1$, %+=%+G&,1F . +,1&1$1+ =$1.*.(&>F %$%FN )+O&,&1F )+ =%+G+,[$ $+%4*4& B, H+)&$01&,N ,+=%+>+)$1F )+ 1%$4HF 0$4 =%.>+)4%& &,1+%@+,[&.,$*+ &,@$G&@+3 C, H$k.%&1$1+$ >$G4%&*.%N =,+4H.1.%$f4* 0+ @&,)+>F =%&, 1%$1$H+,1 >.,0+%@$1.%3 <, %$=.%1 %+>+,1 $* #$}. 2*&,&> $ $%F1$1 >F ).4F 1%+&H& )&,1%+ >$G4%& =%+G&,1F )4%+%+ =*+4%&1&>F ^& $0.>&$GF =,+4H.1.%$fN +@&)+,1 >*&,&> *$ . 1%+&H+ )&,1%+ >$G4%& Q"bR3 F4B/1(, $+14/0,%>
C, )&$(,.01&>4* )&O+%+,[&$* $* )4%+%&& 1.%$>&>+N +HD.*&$ =4*H.,$%F >.,1&,4F 0F %+=%+G&,1+ . =%.@.>$%+ =%&,1%+ >*&,&>&+,&3 ;&$(,.01&>4* +01+ 04(+%$1 )+ 0&H=1.H$1.*.(&$ &,01$*$1F $>41N %+=%+G+,1$1F =%&, )&0=,++ ^& )4%+%+ 1.%$>&>F >4 >$%$>1+% =*+4%&1&>N =%+>4H ^& =%&, 0+H,+ )+ ]&=.f+H&+ 0+@+%FN 1$]&>$%)&+N *$ =$>&+,[& >$%+ =%+G&,1F )+ .D&>+& O$>1.%& )+ %&0>N %+=%+G+,1$[& H$& O%+>@+,1 =%&, &,1+%@+,[&& >]&%4%(&>$*+ %+>+,1+N $O+>[&4,& H$*&(,+ =%++f&01+,1+ 0$4 $O+>[&4,& >$%+ )+1+%H&,F %+=$40 =%+*4,(&1 *$ =$1 Q"ZR3 <, 014)&4 D$G$1 =+ $,$*&G$ &H$(&01&>F $ +HD.*&+& =4*H.,$%+ =%&, >.H=41+%' 1.H.(%$O&+ 0=&%$*F $ $%F1$1 >F *$ =$>&+,[&& >4 +HD.*&+ =4*H.,$%FN )4%+%+$ 1.%$>&>F )+ 1&= =*+4%&1&> +01+ 0+H,&O&>$1&@ H$& O%+>@+,1F *$ >+& >4 &,O$%>1 =4*H.,$%N >$%+ %+=%+G&,1F $=%.f&H$1&@ S?{ )&,1%+ >$G4%&3 ;&,1%+ >$G4%&*+ )+ &,O$%>1 =4*H.,$%N aS{ &,1+%+0+$GF *.D&& &,O+%&.%& =4*H.,$%&N >++$ >+ )+1+%H&,F ^& *.>$*&G$%+$ )4%+%&& 1.%$>&>+ B, 1+%&1.%&4* %+0=+>1&@ Q"_R3 ;4%+%+$ 1.%$>&>F )+ 1&= =*+4%&1&> )&, &,O$%>14* =4*H.,$% +01+ >$4G$1F )+ &%&1$[&$ =*+4%$*F =$%&+1$*FN )+1+%H&,$1F )+ &,O*$H$[&$ *.>$*&G$1F *$ ,&@+*4* =*+4%+& @&0>+%$*+ 04D&$>+,1+N >$%+ $>.=+%F 0+(H+,14* =4*H.,$% $O+>1$1 )+ +HD.*&+3 / =$%1+ )&,1%+ =$>&+,[& )+0>%&4 . )4%+%+ )+ 1&= >+,1%$*N >$%+ $% =41+$ O& +f=*&>$1F =%&, )&01+,0&$ $%1+%+& =4*H.,$%+ >4 $>1&@$%+$ H+>$,.%+>+=1.%&*.% $%1+%&$*& Q"aR3 !+%"%", *" ),+J> 0"/$1,J()>
;4%+%+$ =.$1+ 0F $=$%F B, ,+.=*$G&& =4*H.,$%+N =*+4%$*+ 0$4 $*+ =+%+1+*4& 1.%$>&>3 2+*+ H$& &H=.%1$,1+ >$4G+ $*+ )4%+%&& *$ =$>&+,[&& >4 >$,>+% D%.,].=4*H.,$% $@$,0$1 04,1 H+1$01$G+*+ .0.$0+ 1.%$>&>+ QSb{RN 14H.%$ 9$,>.$01 QS"{R ^& +f1&,)+%+$ ,+.=*$G&+& *$ ,&@+*4* =+%+1+*4& 1.%$>&> Q?"{R Q"\R3 ;4%+%+$ )+ >$4GF ,+.=*$G&>F =.$1+ O& B,>$)%$1F B, ).4F 0&,)%.$H+ =%&,>&=$*+d 0&,)%.H4* )4%+%.0 $>41 ^& 0&,)%.H4* )4%+%.0 >%.,&>3 P&,)%.H4* )4%+%.0 $>41 +01+ B, (+,+%$* )$1.%$1 4,+& &,k4%&& $>41+ 0+>4,)$%+ &,@$G&+& ,+.=*$G&>+d ]+H.%$(&+ &,1%$14H.%$*FN O%$>14%F .0.$0F =$1.*.(&>FN )4%+%+ @&0>+%$*F B, .D01%4>[&+ &,1+01&,$*FN =+%O.%$[&+ @&0>+%$*FN +1>3 ;4%+%+$ $>41F +01+ )+ .D&>+& =%+>&0 )+O&,&1FN
"bZ
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aZ{ )&,1%+ =$>&+,[&& >4 >$,>+% =%+G&,1F 0&,)%.H )4%+%.0 >%.,&>N 0+>4,)$% 0&,)%.$H+*.% ,.>&>+=1&@+ 0$4 ,+4%.=$1&>+ Q"XR3 ;4%+%+$ 1.%$>&>F )&, >$,>+%4* =4*H.,$% +01+ O%+>@+,1 . )4%+%+ &H=%+>&0FN )&O4GFN 04%)FN *$ ,&@+*4* ]+H&1.%$>+*4& $O+>1$1N 0+H,&O&>A,) =%+G+,[$ &,1+%+0F%&& =*+4%$*+ 0$4 &,O&*1%$%+$ H$*&(,F $ =+%+1+*4& 1.%$>&>3 2*$0&>$ 14H.%F 9$,>.$01 $ $=+f4*4& =4*H.,$% =.$1+ +@.*4$ >4 )4%+%+ >4 .%&(&,+$ *$ ,&@+*4* =*+f4*4& D%$]&$* >4 &,@$G&+ ,+.=*$G&>FN $@A,) >$%$>1+%&01&>F *.>$*&G$%+$ B, 4HF%3 9$>&+,[&& >4 >$,>+% =4*H.,$% ^& )4%+%+ 1.%$>&>F $0.>&$GF O%+>@+,1 ^& $*1+ 0&H=1.H+ 0$4 0+H,+ &H=.%1$,1+d )&0=,++N 140+N ]+H.=1&G&+N 0>F)+%+ B, (%+41$1+ Q?YR3 #+G.1+*&.H4* =*+4%$* H$*&(, +01+ . ,+.=*$G&+ >4 4, =%.(,.01&> )+.0+D&1 )+ 0+@+%N >4 . H+)&$,F $ 04=%$@&+[4&%&& )+ $=%.f&H$1&@ "? *4,&3 54H.%$ $%+ .%&(&,+$ *$ ,&@+*4* =*+4%+& =$%&+1$*+ )$% =.$1+ $O+>1$ 0+>4,)$% =*+4%$ @&0>+%$*F3 C, =*40N H+G.1+*&.H4* $%+ . =%.D$D&*&1$1+ B,$*1F )+ )&0+H&,$%+ *$ ,&@+*4* 0+%.$0+*.% 0=%+ =*+4%$ >.,1%.*$1+%$*F3 ;4%+%+$ %+=%+G&,1F 4, 0&H=1.H &H=.%1$,1 B, H+G.1+*&.H4* =*+4%$*N =.$1+ $@+$ 4, >$%$>1+% )&O4G ^& *.>$*&GF%& *$ )&01$,[F &$% 1%$1$H+,14* $>+01+&$ %+=%+G&,1F . =%.@.>$%+ =+,1%4 >*&,&>&$, Q?"R3 ;+1+%H&,F%&*+ =*+4%$*+ H$*&(,+ $=$% B, ?Z{ )&,1%+ >$G4%&*+ )+ >$%>&,.H4* =4*H.,$%N B, XZ{ )&,1%+ >$G4%&*+ )+ H+G.1+*&.H ^& =A,F *$ SY{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
`.*&*+ )+ >.*$(+, 0+ >.H=*&>F O%+>@+,1 >4 =*+4%&1F ^& %+@F%0$1+ =*+4%$*+N )+ H4*1+ .%& *$ >A[&@$ $,& )+ +@.*4[&+ $ >.*$(+,.G+&3 P4,1 $O+>1$[& $=%.f&H$1&@ k4HF1$1+ )&,1%+ =$>&+,[&& >4 *4=40 +%&1+H$1.0 0&01+H&>N SY{ )&,1%+ =$>&+,[&& >4 (%$,4*.H$1.GF x+(+,+%N SY{ )&,1%+ >$G4%&*+ )+ =*+4%$* 0&,)%.H+01+ 2]4%('P1%$400 ^& Z{4,+.%& )&,1%+ =$>&+,[&& =$>&+,[&& >4 Q?YR3 ;+^& %+@F%0$14* )+ 1&= +f4)$1N ,4 =.*&$%1%&1F $>4GF ,&>&%+4H$1.&)F )4%+%+ 1.%$>&>FN ,&>& )&0=,++3 C, =.*&$%1%&1$ %+4H$1.&)F %+@F%0$14* =*+4%$* +01+ B, >$,1&1$1+ %+)40FN =%+).H&,$,1 =+ =$%1+$ )%+$=1F ^& $%+ >$%$>1+%&01&>N *$ $,$*&G$ D&.>]&H&>FN 4, ,&@+* %+)40 $* (*&>.=*+4%&+&N =l 0>FG41N ,&@+* %&)&>$1 $* *$>1&>')+]&)%.(+,$G+& ^& 1&1%4 >%+0>41 $* O$>1.%4*4& %+4H$1.&)3 7+@F%0$14* =*+4%$* B, *4=404* +%&1+H$1.0 0&01+H&> +01+ O%+>@+,1 D&*$1+%$*N >$%$>1+%&G$1 =%&,
"b_
*&HO.>&1.GFN .>$G&.,$* ]+H.%$(&>3 / =$%1+ )&,1%+ =$>&+,[& =.1 $0.>&$ ^& $*1+ )+1+%H&,F%& =4*H.,$%+N >$ )+ +f+H=*4 ,.)4*&& %+4H$1.&G&N >4 41&*&1$1+ B, O.%H4*$%+$ )&$(,.01&>4*4& Q""R3 C, $,4H&1+ 0&14$[&&N O%+>@+,1 B, =.*&$%1%&1$ %+4H$1.&)FN =*+4%&1$ 0$4 +O4G&4,&*+ =*+4%$*+ ,4 ,+>+0&1F 1%$1$H+,1N +@.*4A,) >4 %+G.*4[&+ 0=.,1$,FN B, >A1+@$ *4,&3 8,1&&,O*$H$1.$%+*+ ,+01+%.&)&+,+ =.1 O& O.*.0&1+ >4 %+G4*1$1+ D4,+ B, >.,1%.*4* )4%+%&& =*+4%&1&>+3 C, 0&14$[&&*+ >4 >.,0+>&,[+ >*&,&>+ H$& &H=.%1$,1+ =.1 O& O.*.0&[& >4 +O+>1+ D4,+ >.%1&>.01+%.&G&&3 6f&01F >]&$% %$=.%1F%& $*+ O.*.0&%&&N >4 %+G4*1$1+ =.G&1&@+N $ >.%1&>.01+%.&G&*.% >4 $)H&,&01%$%+ &,1%$=*+4%$*FN B, >$G4%& %+G&01+,1+ *$ 1%$1$H+,1N )+ +O4G&4,& =*+4%$*+ $0.>&$1+ >.*$(+,.G+*.% Q??R3 !+%"%", *" ),+J> (,.%/-"0>
5.%$>.0>.=&$ ^& 1.%$>.1.H&$ 04,1 H+1.)+ )&$(,.01&>+ ^& 1+%$=+41&>+ &,@$G&@+N ,+>+0$%+ O%+>@+,1 B, =$1.*.(&$ =4*H.,$%F3 5.%$>.0>.=&$ +01+ 4,+.%& ,+>+0$%F =+,1%4 )&$(,.01&>4* +O4G&4,&*.% =*+4%$*+ ^& +01+ >.,0&)+%$1F 1%$1$H+,14* 01$,)$%) =+,1%4 )+D%&)$%+$ >$@&1F[&& =*+4%$*+N $14,>& >A,) >$%$>1+%&01&>&*+ >.*+>[&&*.% =*+4%$*+ O$> >$ )%+,$k4* =*+4%$* 0F ,4 O&+ $=*&>$D&* 0$4 +O&>&+,13 5.%$>.0>.=&$ +01+ )+ $0+H+,+$ 41&*F B, %+$*&G$%+$ D&.=0&&*.% =*+4%$*+ ^& =4*H.,$%+3 5.%$>.1.H&$ +01+ . H+1.)F H4*1 H$& &,@$G&@FN %+=%+G+,1A,) =%.>+)4%$ 01$,)$%) B, %+G+>[&$ =4*H.,$%F 0$4 )+>.%1&>$%+3 8>+01+ =%.>+)4%& 04,1 4%H$1+ O%+>@+,1 )+ ,+@%$*(&$ &,1+%>.01$*F >%.,&>FN H$,&O+01$1F =%&, )4%+%+ =+%0&01+,1F D&,+ *.>$*&G$1F *$ ,&@+*4* G.,+& )+ &,1+%@+,[&+N H$& $*+0 >A,) 0'$ %+$*&G$1 ^& %+G+>[&+ >.01$*F3 P14)&& H$& @+>]& $%$1F >F S_{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ %+$*&G$1 1.%$>.1.H&+ $>4GF )4%+%+ =+%0&01+,1F 0$4 )&0>.,O.%1 *$ ,&@+*4* G.,+& 1.%$>&>+ &,1+%+0$1+N 1&H= )+ S'"\ *4,& Q?SR3 8*1+ %+G4*1$1+N =4D*&>$1+ B, ?YYbN $%$1F >F $=%.f&H$1&@ ZY{ )&,1%+ =$>&+,[&& 04=4^& &,1+%@+,[&+& $>4GF 0&,)%.H )4%+%.0 =.01' 1.%$>.1.H&+3 8>+01$ %+=%+G&,1F . >.,)&[&+ >%.,&>F ^& *$ $=%.f&H$1&@ SY{ )&,1%+ =$>&+,[& ^& =+%0&01F 4,+.%& 1&H= )+ b'Z $,& )4=F .=+%$[&+3 -$ H$k.%&1$1+$ 04D&+>[&*.% >4 0&,)%.H )4%+%.0 =.01'1.%$>.1.H&+N )4%+%+$ +01+ 4^.$%F ^& &,O*4+,[+$GFN )+ .D&>+&N ,+0+H,&O&>$1&@ >$*&1$1+$ @&+[&&3 -$ 4, 04D(%4= H&> )+ =$>&+,[& )4%+%+$ =.$1+ O& )+0>%&0F >$ . )&G$D&*&1$1+ %+$*F3 #+>$,&0H4* +f$>1 $* 0&,)%.H4*4& )4%+%.0 =.01'1.%$>.1.H&+ ,4 +01+ =+ )+=*&, >4,.0>41 )$%N )$1+*+ >4H4*$1&@+ 04(+%+$GF . >.HD&,$[&+ B, =%.=.%[&& @$%&$D&*+ $ )4%+%&& ,+4%.=$1&>+ ^& ,.,' ,+4%.=$1&>+ QH&.O$0>&$*+R3 2$4G$ +01+ >+* H$& =%.D$D&* 1%$4H$&G$%+$ ,+%@4*4& &,1+%>.01$* B, 1&H=4* =%.>+)4%&&3 -$ =$>&+,[&& *$ >$%+ )4%+%+$ ,4 >$4G+$GF )&G$D&*&1F[&N H$,$(+H+,14* $>+01+&$ +01+ )+ .D&>+& >.,0+%@$1.% Q?bR3 7+G4*1$1+ =4D*&>$1+ B, *&1+%$14%F $%$1F >F $=%.f&H$1&@ X{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ =%$>1&>$1 1.%$>.1.H&+N 04O+%F )+ )4%+%+ >%.,&>F >$%+ ,+>+0&1F $,$*(+G&+ G&*,&>FN D*.>$k+ ,+%@.$0+ 0$4 $)%+0$%+$ >F1%+ >*&,&>& 0=+>&$*&G$1+ B, >.,1%.*4* )4%+%&& Q?ZR3 9*+4%.)+G$ %+=%+G&,1F &,)4>+%+$ &$1%.(+,F $ $)+%+,[+& =*+4%+& =$%&+1$*+ ^& =*+4%+& @&0>+%$*+ =+,1%4 =%+@+,&%+$ $=$%&[&+& +O4G&4,&*.% =*+4%$*+ %+>4%+,1+ 0$4 =,+4H.1.%$f4*4& %+>4%+,13 9*+4%.)+G$ 0+ %+$*&G+$GF =%&, H+1.)+ >]&H&>+N =%&, &,1%.)4>+%+$ B, >$@&1$1+$ =*+4%$*F $ 4,4& $(+,1 0>*+%.G$,1N 0$4 =%&, H+1.)+ >]&%4%(&>$*+N =%&, $D%$G&4,+ =*+4%$*FN $>+01+$ )+1+%H&,A,) &,O*$H$[&+ &,1+,0F >$%+ 0+ @&,)+>F >4 O&D%.GF ^& $)+%+,[FN *$ ,&@+*4* =*+4%+&37+G4*1$1+*+ 014)&&*.% >*$0&>+ $%$1F >F =+01+ _Y{ )&,1%+ =$>&+,[&& *$ >$%+ 0'$ =%$>1&>$1 =*+4%.)+GF $>4GF )4%+%+ H.)+%$1F 0$4 0+@+%F )4=F &,1+%@+,[&+ Q?_R3 8>+01+$ 04,1 >.,O&%H$1+ )+ %+G4*1$1+*+ 014)&&*.% H$& ,.&N >$%+ $%$1F >F )4%+%+$ %+=%+G&,1F >.H=*&>$[&$ >+$ H$& O%+>@+,1 %$=.%1$1F )+ =,+4H.*.(& B, =*+4%.)+GFN &,)&O+%+,1 )+ $(+,14* 0>*+%.G$,1 O.*.0&1 Q?aR3
"ba
<&'>A'G''C* H/>/(*H*>?@C@' +@&*&'' W> G/?)C)('/ &*.G'&/?)&'* h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d ,.,.=&.&)+ Q+f3 $0=&%&,FN =$%$>+1$H.*RN B, >$G )+ ,+>+0&1$1+N .=&.&)+ 4^.$%+ Q>.)+&,FRN B, >$G )+ ,+>+0&1$1+N .=&.&)+ =41+%,&>+ QH.%O&,FR3 9+,1%4 .D[&,+%+$ +O+>1+*.% .=1&H+ )+ >.,1%.* $* )4%+%&&N H+)&>$H+,1+*+ 1%+D4&+ $)H&,&01%$1+ H$& )+(%$DF )4=F 4, .%$% O&f Q*$ O&+>$%+ S'_ .%+RN )+>A1 *$ ,+@.&+3 8>+$01F $D.%)$%+ B, 1%+& 1%+=1+N >.,01A,) B, $)H&,&01%$%+$ $,$*(+G&>4*4& =.1%&@&1N B, ).G$ =.1%&@&1FN *$ 1&H=4* =.1%&@&1N %+=%+G&,1F @$%&$,1$ .=1&HF )&, =4,>1 )+ @+)+%+ $* %$=.%14*4& >.01rD+,+O&>&4 ^& $%+ . +O&>&+,[F )+ \Y'XY{ Q?\R3 ;+^& $>+$01F $D.%)$%+ $ O.01 >.,>+=41F &,&[&$* =+,1%4 )4%+%+$ )+ >$4GF ,+.=*$G&>FN >.,>+=14* $ O.01 +f1&,0 =+,1%4 )4%+%+ B, (+,+%$*N >4 =%+>F)+%+ =+,1%4 0&14$[&&*+ B, >$%+ ,4 +f&01F ).@+G& =%.@+,&,) )&, 014)&& >*&,&>+ )+ >$*&1$1+ >$%+ 0F 01$D&*+$0>F $*1+ &,)&>$[&&3 9+,1%4 )4%+%+$ 1.%$>&>F )+ &,1+,0&1$1+ 4^.$%F 0+ =.1 41&*&G$ $,$*(+G&>+ 4G4$*+N >$ $>+1$H&,.O+,4*N $>&)4* $>+1&*0$*&>&*&> 0$4 $*1+ $,1&&,O*$H$1.$%+ ,+01+%.&)&+,+N B, H.,.1+%$=&+ 0$4 B, )&@+%0+ >.HD&,$E&&3 6f=+%&+,[$ >*&,&>F $>14$*F 04(+%+$GF >F $,1&&,O*$H$1.$%+*+ ,+01+%.&)&+,+ 04,1 B, H.) =$%1&>4*$% +O&>&+,1+ =+,1%4 )4%+%+$ =*+4%&1&>FN )+^& $>+01 $0=+>1 ,4 $ O.01 1+01$1 =%&, 014)&& >*&,&>+ .D&+>1&@+ Q?YR3 /=&$>++*+ 4^.$%+ Q>$ )+ +f+H=*4 >.)+&,FN .f&>.).,N )&]&)%.>.)+&,FN +1>3R =.1 O& $)F4($1+ *$ 0>]+H$ 1+%$=+41&>FN )$>F >4 $,$*(+G&>+*+ 4G4$*+ ,4 0+ $1&,(+ [&,1$ =%.=40F B, >.,1%.*4* )4%+%&&3 ;.G+*+ @.% O& $)$=1$1+ &,)&@&)4$* B, O4,>E&+ )+ &,1+,0&1$1+$ )4%+%&& I& $ +O+>1+*.% $)@+%0+ $*+ $,$*(+G&>+*.% Q>$ )+ +f+H=*4 (%+$E$ 0$4 >.,01&=$E&$R3 /=&$>++ =41+%,&>+ Q>$ )+ +f+H=*4 O+,1$,&*N H.%O&,F 0$4 D4=%+,.%O&,FR =.1 O&N )+ $0+H+,+$N =%+0>%&0+N B, 0=+>&$* *$ =$>&+,E&& >4 $O+>E&4,& H$*&(,+3 /=&$>++*+ =.1 O& $)H&,&01%$1+ =+ >$*+ .%$*FN &,1%$@+,.0N 04D*&,(4$*N &,1%$1+>$* 0$4 1.=&>N B, O4,>[&+ )+ &,)&>$[&+ ^& )+ >$*+$ )+ $)H&,&01%$%+ )&0=.,&D&*F3 6f&01F =%+=$%$1+ >4 +*&D+%$%+ &H+)&$1F ^& =%+=$%$1+ >4 +*&D+%$%+ =%+*4,(&1FN =+,1%4 O&+>$%+ )&,1%+ $>+01+ >F&3 9%+=$%$1+*+ >4 +*&D+%$%+ &H+)&$1F ^& >+*+ >4 +*&D+%$%+ =%+*4,(&1F $4 +O+>1+ $,$*(+G&>+ +>]&@$*+,1+ Q?XR QSYR3 C, H.) &)+$* 0+ O.*.0+0> =%+=$%$1+ >4 +*&D+%$%+ ,.%H$*F =+,1%4 1&1%$%+$ &,&[&$*F $ ).G+& ^& =%+=$%$1+ >4 +*&D+%$%+ H.)&O&>$1F =+,1%4 1+%$=&$ )+ H+,[&,+%+ QS"R3 2A,) 04,1 O.*.0&1+ .=&$>++*+N 0+ %+>.H$,)F $0.>&+%+$ )+ *$f$1&@+ =+,1%4 $ =%+@+,& >.,01&=$[&$ &,)40F )+ $>+$01F >*$0F )+ H+)&>$H+,1+ Q"\R3 2+$ H$& &H=.%1$,1F >$*+ )+ $)H&,&01%$%+ =+,1%4 H.%O&,F %FHA,+ >$*+$ .%$*F3 8)H&,&01%$%+$ =$%+,1+%$*F O& ,+>+0$%FN >$G4* B,=41+%,&>+N >$%+ ,4 +01+ 1.*+%$1F $)H&,&01%$%+$ .%$*F Q?YR3 C, >$G4* H.%O&,+&N=.$1+ >$ ^& B, >$G4* $*1.%B,.=&.&)+ 0+ %+$*&G+$GF 1&1%$%+$ =A,F *$ .D[&,+%+$ D+,+O&>&4*4& 1+%$=+41&> ).%&1N ).G$ )+ &,&[&+%+ O&&,) 01$D&*&1F B, O4,>[&+ )+ 1%$1$H+,14* $,$*(+G&> $,1+%&.%3
"b\
9*+4%+G&+ =$%$=,+4H.,&>F 6H=&+H =*+4%$*
6HD.*&+ =4*H.,$%F
2$4G+ &$1%.(+,+ Q1.%$>.0>.=&$N 1.%$>.1.H&$R
;+1+%H&,F%& =4*H.,$%+ B,
>.*$(+,.G+
T+.=*$G&& =4*H.,$%+r =*+4%$*+
9,+4H.1.%$f
;4%+%+$ )+ >$4GF =4*H.,$%Fr%+0=&%$1.%&+
8,$*(+G&+ O$%H$>.*.(&>F
T.,'.=&.&)+ Q8:TPN +1>R
/=&.&)+
8,$*(+G&+ &,1+%@+,[&.,$*F
`*.>$)$ ,+%@.$0F
8)k4@$,1+ B, $,$*(+G&+d - 8,1&)+=%+0&@+ - 8,1&>.,@4*0&@$,1+ - 8(.,&^1& z?'$)%+,+%(&>& - 2$,$D&,.&G& - 8,1$(.,&^1& T#;8 - 2.%1&>.01+%.&G&
2.%).1.H&+
8,$*(+G&+ &,1%$=*+4%$*F
T+4%.H.)4*$%+ T+4%.$D*$[&+
7$)&.1+%$=&+
T'(# h# F.(/1/-(, K( 4,0,-"4"0.+1 *+%"%(( *(0 $,./1/-(, %"#$(%,./%(" M"*(),4"0." ,*H+;,0." N0 ,0,1-"J("
#+)&>$H+,1+*+ $)k4@$,1+ B, $,$*(+G&+ 04,1 H+)&>$H+,1+ >$%+ ,4 $4 >$ +O+>1 =%&H$% $,$*(+G&$N )$% $4 +O+>1+ O$@.%$D&*+ B, H$,$(+H+,14* )4%+%&&3 8>+01+ H+)&>$H+,1+ ^&'$4 ).@+)&1 +O&>&+,[$ B, 0=+>&$* B, )4%+%+$ >%.,&>F3 8,1&)+=%+0&@+*+ 04,1 >+*+ H$& 41&*&G$1+N B, 0=+>&$* =+,1%4 )4%+%+$ ,+4%.=$1&>F QS?R3 #+>$,&0H+*+ >$%+ 01$4 *$ D$G$ +O+>1+*.% $,$*(+G&>+ $)k4@$,1+ 04,1 *+($1+ )+ >%+^1+%+$ )&0=.,&D&*&1F[&& $H&,+*.% *$ ,&@+*4* 0&,$=0+*.% ,+4%.,$*+N B,
"bX
0&01+H4* )+0>+,)+,1 )+ H.)4*$%+ $ 0+,0&D&*&1F[&& )4%+%.$0+N &,]&D&[&$ %+>$=1F%&& ,.%+=&,+O%&,+&N +O+>1+ 0+%.1.,&,+%(&>+ ^& ).=$H&,+%(&>+ Q"\R3 : N")'1(,*(8'7(&( )*'/'/&'/( e &,>*4) $H&,+*+ 1+%[&$%+ Q$H&1%&=1&*&,$R 0$4 0+>4,)$%+ Q,.%1%&=1&*&,$N )+0&=%$H&,$R ^& $>[&.,+$GF =%&, &,]&D&[&$ %+>$=1F%&& 0+%.1.,&,+& ^& ,.%$)%+,$*&,+&N O&&,) +O&>&+,1+ B, 1%$1$H+,14* )4%+%&& ,+4%.=$1&>+ QSSR3 : N")'/%"7+&8'72")(&( e 04,1 $,$*.(& $& L8`8 Q+f3 ($D$=+,1&,N =%+($D$*&,R O.*.0&[& B, 1%$1$H+,4* )4%+%&& ,+4%.=$1&>+ >+,1%$*+ ^& =+%&O+%&>+3 6O+>14* )+ >.,1%.* $* )4%+%&& ,4 +01+ %+G4*1$14* $>[&4,&& $(.,&01+ =+ %+>+=1.%4* L8`8N >& $* $>[&4,&& =+ >$,$*+*+ )+ >$*>&4 @.*1$k )+=+,)+,1+ $*O$'?')+*1$N *$ ,&@+*4* >.$%,+*.% ).%0$*+ QSbR3 : NA%"'B)'' 2&=2:c 21*("(*A'/' e H$& >4,.0>41F +01+ >*.,&)&,$N 014)&$1F B, )4%+%+$ ,+4%.=$1&>F )&, $O+>[&4,&*+ ,.,'H$*&(,+3 8)H&,&01%$1F 0=&,$*N >*.,&)&,$ $%+ =%.=%&+1F[& $,$*(+G&>+ B, >$,>+% ^& +01+ H4*1 H$& +O&>&+,1F =+,1%4 )4%+%+$ ,+4%.=$1&>F )+>A1 =+,1%4 )4%+%+$ ,.>&>+=1&@F QSZRN )$% +01+ )&O&>&* )+ 1.*+%$1 )+ >F1%+ =$>&+,[&& @A%01,&>&3 : N")2A%"'B)'' *(/(,)%*'&%* >:9()'&:;:28,2*)2) D>U;NE e =.1 O& O.*.0&[& B, )4%+%+$ ,+4%.=$1&>F $@A,) B, @+)+%+ >F %+>+=1.%&& T#;8 04,1 &H=*&>$[& B, H.)&O&>F%& *$ ,&@+*4* 0&01+H4*4& ,+%@.0 >+,1%$* >$%+ 01$4 *$ D$G$ H+>$,&0H+*.% )4%+%&& >%.,&>+ ^& H.)4*+$GF H+>$,&0H+*+ .=&.&)&>+ QS_R3 •+1$H&,$ +01+ 4, $,+01+G&> =$%+,1+%$* (+,+%$* >$%+ =.$1+ O& O.*.0&1 B, ).G+ 04D' $,+01+G&>+ =+,1%4 >.HD$1+%+$ )4%+%&&N B, 0=+>&$* *$ =$>&+,[&& >4 1.*+%$,[F *$ .=&$>++ QSaR3 : L%*)'/%8)(*%'4'' =.1 O& 41&*&G$[& >$ $)k4@$,[& *$ H+)&>$[&$ $,$*(+G&>F B, >$,>+%4* =4*H.,$%N B, 0=+>&$* =+,1%4 )4%+%+$ ,+4%.=$1&>FN >+O$*++ B, >.,1+f14* >%+^1+%&& =%+0&4,&& &,1%$>%$,&+,+N )4%+%+ .0.$0FN )4%+%& @&0>+%$*+ >$4G$1+ )+ )&01+,0&$ >$=04*+& )+ .%($,N *&HO+)+HN +1>3 P4,1 =%+O+%$[& >.%1&>.01+%.&G&& >4 +O+>1+ H&,+%$*.>.%1&>.&)+ %+)40+N H$& >4,.0>41F O&&,) )+f$H+1$G.,$N >$%+ $%+ ^& $@$,1$k4* 4,4& 1&H= )+ B,k4HF1F[&%+ H$& *4,(3 9+,1%4 =%+@+,&%+$ +O+>1+*.% $)@+%0+N 0+ @.% O.*.0& ).G+*+ H&,&H+ >$%+ )+1+%H&,F +O+>1+ 0&H=1.H$1&>+ Q"\R3 l# <&)A*+@&' '>?*&I*>S')>/C* W> A)>?&)C@C +@&*&'' A1/),*, 0"%;/,#>
`*.>$)$ ,+%@.$0F =$%$@+%1+D%$*F %+=%+G&,1F . 1+],&>F 0&H=*FN *&=0&1F )+ >.H=*&>$[&& &H=.%1$,1+N %+$*&GA,) $,$*(+G&$ %+(&.,$*F %+@+%0&D&*FN B, )4%+%&*+ 1.%$>&>+ )+ >$4GF @$%&$1F3 801O+*N 1+],&>$ =.$1+ O& O.*.0&1F $1A1 =+,1%4 )4%+%+$ 1.%$>&>F $>41FN $0.>&$1F B, O%$>14%& >.01$*+ 0$4 =.01'1.%$>.1.H&+N >A1 ^& =+,1%4 )4%+%+$ 1.%$>&>F >%.,&>F3 5+],&>$ D*.>$k4*4& ,+%@.0 *$ ,&@+*4* ,+%@&*.% &,1+%>.01$*& =%+04=4,+ &,k+>1$%+$ *.>$*F )+ $,+01+G&>N )+ =%+O+%$1 04D >.,1%.* +>.(%$O&> QS\R3 9.$1+ O& O.*.0&1F *&).>$&,$ "'?{ 0$4 D4=&@$>$&,$ YN?Z'YNZ{ QSXR3 `*.>$)$ ,+%@.$0F =.$1+ O& 41&*&G$1F =+,1%4 >.,1%.*4* )4%+%&& )4=F &,1+%@+,[&& >]&%4%(&>$*+ B, )&O+%&1+ $O+>[&4,& %+0=&%$1.%&&N >4 %.* >4%$1&@ 0$4 +f=*.%$1.%N =.01'1.%$>.0>.=&+N =.01'1.%$>.1.H&+N =%+>4H ^& B, $O+>[&4,&*+ %+0=&%$1.%&& )&, 1%$4H$1&0H+ 1.%$>&>+ Q)+ +f+H=*4 O%$>14%& >.01$*+ H4*1&=*+ >4 =,+4H.1.%$fR 0$4 =+,1%4 $O+>[&4,& =4*H.,$%+ >$%+ $0.>&$GF 0&,)%.$H+ )4%+%.$0+ >%.,&>+ Q)+ +f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
"ZY
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bYR3 70,1-"J(, $%(0 ."?0()( )?(%+%-(),1"
5+],&>& )+ $,$*(+G&+ &,@$G&@+N &H=*&>A,) H+1.)+ >]&%4%(&>$*+N =.1 O& ,+>+0$%+ B, >$G4%& 0+*+>[&.,$1+N H$& $*+0 *$ =$>&+,[&& >4 ,+.=*$G&&N >$ )+ +f+H=*4 B, H+G.1+*&.H3 C, $>+01 0+,0N >.%).1.H&$ 0+ $)%+0+$GF 1%$1$H+,14*4& 4,+& )4%+%& 4,&*$1+%$*+ >]&$% H4*1&0+(H+,1$%+ ^& =%+04=4,+ B,1%+%4=+%+$ O$0>&>4*4*4& 0=&,.'1$*$H&> O&+ =+ >$*+ =+%>41$,$1FN O&+ =+ >$*+ 0$,(+%A,)FN *$ ,&@+* 1.%$>$* 04=+%&.%3 #+1.)$ +01+ +O&>&+,1F =+,1%4 $,$*(+G&$ >.,1%.*$1+%$*F3 2.%).1.H&$ >+%@&>$*F =+%>41$,$1F =+%H&1+ B,1%+%4=+%+$ 1%$>14*4& 0=&,.1$*$H&> *$ ,&@+*4* 2"r2? >4 $D.*&%+$ 0+,G$[&+& )4%+%.$0+ >.,1%.*$1+%$*+3 5+],&>$ +01+ +f+>41$1F >4 $,+01+G&+ *.>$*F 04D >.,1%.* O*4.%.0>.=&> 0$4 >.H=41+%'1.H.(%$O&>3 2.%).1.H&$ 1.%$>$*F B,$*1$ +01+ OF>41$ )+ .D&>+& 04D $,+01+G&+ (+,+%$*F *$ D.*,$@&& >4 0&,)%.$H+ )4%+%.$0+ 0&14$1+ 04D ,&@+*4* 5\N =.$1+ O& 4,&*$1+%$*F 0$4 D&*$1+%$*F ^& =%+04=4,+ *$H&,+>1.H&+ *$ ,&@+* 5?'5b3 6O+>14* >.%).1.H&+& >4=%&,)+ ^& %+)4>+%+$ 0+,G$[&+& 1$>1&*+ ^& 1+%H&>+N $0.>&$1F $,$*(+G&+&3 / =%.D*+HF B, &,)&>$[&$ )+ +O+>14$%+ $ >.%).1.H&+& +01+ +f&01+,1$ 4,+& D&*$1+%$*&1F[& $ 0&,)%.H4*4& )4%+%.0N >A,) H+1.)$ =.$1+ )+1+%H&,$ . $>>+,14$%+ $ )4%+%&& &=0&*$1+%$* >.%).1.H&+& +O+>14$1+N B, 0&14$[&$ B, >$%+ +f&01$ 4, O.,) )+ )+G$O+%+,1$%+ *$ .%&(&,+$ )4%+%&& %+0=+>1&@+3 8>+*$^& H+>$,&0H =.$1+ )+1+%H&,$ ^& 14*D4%F%& 0O&,>1+%&+,+ =A,F *$ %+1+,[&+ )+ 4%&,F Qb"R3 7+G4*1$1+ )+.0+D&1 )+ =%.H&[F1.$%+ 0'$4 .D[&,41 B, >.%).1.H&$ %+$*&G$1F *$ =$>&+,[&& >4 )4%+%+ )+ =+%+1+ 1.%$>&> Qb?R3 5+],&>$ =+%>41$,$1F +01+ =%+O+%$1F =+,1%4 +O+>14$%+$ >.%).1.H&+&N H+1.)$ >]&%4%(&>$*F )+0>]&0F O&&,) %+G+%@$1F =$>&+,[&*.% >$%+ ,4 =.1 01$ B, =.G&[&+ 04=&,F 0$4 *$ >$%+ ,4 0+ =.$1+ %+$*&G$ >+$ )&,1A& QbSR3 ;4%+%&*+ *$ *$ ,&@+*4* =+%+1+*4& 1.%$>&> )+1+%H&,$1+ )+ &,@$G&$ 14H.%$*F =.1 O& 1%$1$1+ ^& =%&, %&G.1.H&+N B,1%+%4=+%+$ %F)F>&,&*.% ).%0$*+ 0+,G&1&@+N %+$*&G$1F 0+(H+,1$% 0$4 H4*1&0+(H+,1$%N =%&, 0+>[&.,$%+ >]&%4%(&>$*FN ,+4%.*&GF >]&H&>F Q)+ +f+H=*4 &,01&*$%+ )+ O+,.* B, 0=$[&4* +=&)4%$* 0$4 &,1%$1+>$*R 0$4 $D*$[&+ >4 %$)&.O%+>@+,[F QbbR3 #+1.)$ =.$1+ O& +O&>&+,1F B, >.,1%.*4* 0&,)%.$H+*.% )4%+%.$0+ *.>$*&G$1+ %+O%$>1$%+3 70,1-"J(, (0.%,$1"+%,1>
8,$*(+G&$ &,1%$=*+4%$*F %+=%+G&,1F . H+1.)F %$=&)F )+ %+)4>+%+ $ +f$>+%DF%&*.% $>41+ $*+ )4%+%&& )+ >$4GF ,+.=*$G&>F3 #+1.)$ =.$1+ O& $=*&>$1F 04D O.%HF )+ &,k+>1$%+ B, D.*40 0$4 =%&, &,O4G&+ >.,1&,4F ^& =.$1+ O& B,>+%>$1F $14,>& >A,) D*.>$)$ ,+%@.$0F >*$0&>F ,4 =%.)4>+ %+G4*1$1+*+ $^1+=1$1+ B, >.,1%.*4* )4%+%&&N )$1.%&1F +f1&,)+%&& 14H.%&& 0$4 =$%1&>4*$%&1F[&*.% $,$1.H&>+ >$%+ )+1+%H&,F 4, $=.%1 *.>$* &,04O&>&+,1 =+,1%4 04D01$,[$ $,$*(+G&>F3 5+],&>$ &H=*&>F $)H&,&01%$%+$ *.>$*F &,1+%>.01$*&N $ $,+01+G&>4*4& >$1+1+%$,+01+G&>4*4& =.G&[&.,$1 B,=%&, >$@&1$1+$ =*+4%$*FN =+,1%4 $,+01+G&+%+$ ,+%@&*.% =%&, =%&, )&O4G&4,+$ =*+4%$ =$%&+1$*F3 8,$*(+G&$ &,1%$=*+4%$*F =.$1+ O& 41&*&G$1F >$ &,01%4H+,1 )&$(,.01&> &H=.%1$,1 =+,1%4 =%+)&>[&$ +O&>$>&1F[&& D*.>4*4& ,+4%.*&1&> =+%H$,+,1 QbZR3 6f&01F ^& 014)&& >$%+ $4 $%F1$1 >F $,$*(+G&$ &,1%$=*+4%$*F $%+ %+G4*1$1+ *&H&1$1+ Qb_R3 8>+01 1&= )+ $,$*(+G&+ =.$1+ $0.>&$ ^& >.H=*&>$[&& =%+>4H =,+4H.1.%$f4* 0$4 +O+>1+ 1.f&>+ $*+ $,+01+G&>4*4&3
"Z"
="?0()( 0"+%/)?(%+%-(),1" *" )/0.%/1 ,1 *+%"%((
5+],&>&*+ ,+4%.>]&%4%(&>$*+ )+ >.,1%.* $* )4%+%&& =.1 O& $@41+ B, @+)+%+ >A,) 1.$1+ =%.>+)4%&*+ >.,0+%@$1.$%+ $4 O.01 +=4&G$1+3 T+4%.H.)4*$%+$ =%+04=4,+ 01&H4*$%+$ =%+O+%+,[&$*F $ O&D%+*.% ,+%@.$0+ ,.,',.>&>+=1&@+ >4 +O+>1+ )+ $1+,4$%+ $ )4%+%&&3 P1&H4*$%+$ >+%+D%$*F =%.O4,)F +01+ +O&>&+,1F B, >$G4%& 0+*+>[&.,$1+ )+ )4%+%+ 1.%$>&>F =%&, H+>$,&0H ,.>&>+=1&@ 0$4 ,+4%.=$1&> QbaR3 9%.>+)4%&*+ ,+4%.$D*$1&@+ >+,1%$*+ =%+>4H >&,(4*.1.H&$ =.1 O& $=*&>$1+N H$& $*+0 *$ =$>&+,[& >4 . 0=+%$,[F )+ @&$[F O.$%1+ *&H&1$1FN >$ )+ +f+H=*4 B, H+G.1+*&.H4* =*+4%$* 0$4 D.$*$ H+1$01$1&>F3 -+G$%+$ %F)F>&,&*.% ,+%@.$0+ ).%0$*+N =%&, 1+%H.>.$(4*$%+ 0$4 *$0+%N B, G.,$ )+ +H+%(+,[F H+)4*$%FN H.)4*+$GF 1%$,0H&1+%+$ )4%+%&& ^& =.$1+ O& *4$1F B, >.,0&)+%$%+ B, 0&,)%.$H+*+ ,+4%.=$1&>+ Q?YR3 O,*(/."%,$(,
7.*4* %$)&.1+%$=&+& +01+ D&,+ 01$D&*&1 B, 1+%$=&$ >$,>+%4*4& =4*H.,$% &$% B, XY{ )&,1%+ >$G4%& $>+$01F H+1.)F +01+ $=*&>$1F ^& >4 &,1+,[&+ =$*&$1&@FN =+,1%4 $1+,4$%+$ >+*.% H$& &H=.%1$,1+ 0&H=1.H+d 140+$N )&0=,++$N ^& B, =%&H4* %A,) )4%+%+$ Qb\R3 6O&>&+,[$ %$)&.1+%$=&+& $H&,&01%$1+ B, 0>.= =$*&$1&@ $ O.01 $,$*&G$1F )+ . H+1$'$,$*&GF 2.]%$,+ =4D*&>$1F B, ?YY_3 7+G4*1$1+*+ $>+01+&$ $4 $%F1$1 >F ).G+*+ H$%& )+ %$)&$[&& 0+ $0.>&$GF H$& $*+0 >4 +O+>1+ 0+>4,)$%+ $>41+ Q)+ +f+H=*4 +0.O$(&1$ )+ &%$)&+%+RN ^& ,4 >4 . BHD4,F1F[&%+ B, 1&H= 0$4 &,1+,0&1$1+ $ $1+,4F%&& 0&H=1.H$1.*.(&+& 1.%$>&>+N B, >.H=$%$[&+ >4 ).G+*+ H$& %+)40+ QbXR3 /%&>4HN 01%$1+(&$ %$)&.1+%$=&+& =$*&$1&@+ =+,1%4 >$,>+%4* =4*H.,$% ,+%+G+>$D&* $ O.01 ^& +01+ 4, 04D&+>1 >.,1%.@+%0$1N )&, =4,>1 )+ @+)+%+ $* ).G+*.% 41&*&G$1+ ^& O%$>[&.,F%&& $>+01.%$3 <, 014)&4 =4D*&>$1 B, ?YY\ $ OF>41 . $,$*&GF .D&+>1&@F $ .=[&4,&*.% =$>&+,[&*.% &H=*&>$[& B, =%.>+04* )+ *4$%+ $ )+>&G&&*.% =%&@&,) $).=1$%+$ 4,+& $,4H&1+ 01%$1+(&& )+ %$)&.1+%$=&+ =$*&$1&@F3 <, >.H&1+1 )+ )+>&G&+ $ &,O.%H$1 =$>&+,[&& $04=%$ $@$,1$k+*.% ^& )+G@$,1$k+*.% *+($1+ )+ ).G$ %$)&.1+%$=+41&>F ^& )+ H.)$*&1$1+$ )+ O%$[&.,$%+ $ $>+01+&$3 84 +f&01$1N )&, $>+01 =4,>1 )+ @+)+%+N ).4F .=[&4,&d "a L} B, ).4F O%$>[&4,& @+%040 SX L} B, "S O%$>[&4,&3 ;&,1%+ =$>&+,[&& &H=*&>$[&N ZZ{ $4 $*+0 %+(&H4* 1+%$=+41&> *4,( >$%+ $ $@41 >$ $@$,1$k 4, >.,1%.* H$& D4, $* D.*&& ^& . 04=%$@&+[4&%+ H$& D4,F3 2+&*$*[& $4 $*+0 %+(&H4* 1+%$=+41&> 0>4%1N $0.>&$1 >4 4, >.,1%.* H$& D4, $* 0&H=1.H$1.*.(&+& ^& >.014%& H$& %+)40+3 9$>&+,[&& )&, $HD+*+ >$1+(.%&& $4 O.01 0$1&0OF>4[& 0F =$%1&>&=+ *$ =%.>+04* )+ *4$%+ $ )+>&G&+& 1+%$=+41&>+ QZYR3 -$ H.H+,14* $>14$* T%H2& L%&&(A( %= T21'%&%A'8)8 %+>.H$,)FN >$ 0>]+HF )+ 1%$1$H+,1 =+,1%4 %$)&.1+%$=&$ =$*&$1&@F B, >$,>+%4* =4*H.,$%N O&+ . 0&,(4%F ).GF )+ "Y L}N O&+ "a L} B, ).4F O%$>[&4,&N B, >$G4* =$>&+,[&*.% >4 01$140 )+ =+%O.%H$,[F H.)+%$1 0$4 0+@+% $O+>1$13 9+,1%4 =$>&+,[&& >4 4, 01$140 )+ =+%O.%H$,[F D4, 0+ =.$1+ *4$ B, >.,0&)+%$%+ 4, %+(&H %$)&.1+%$=+41&> D$G$1 =+ . ).GF H$& H$%+N O%$>[&.,$1F Q)+ +f+H=*4 S_L} B, "? O%$>[&4,&R Q"\R3 e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
"Z?
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k+>[&+ )+ .=&.&) ]&)%.O&*&>N =%+>4H H.%O&,$N =.$1+ O& +O&>&+,1F QZ"R3 K'A+*2 ] %+=%+G&,1F . 0&,1+GF $ >+*.% H$& &H=.%1$,1+ H.)$*&1F[& )+ H$,$(+H+,1N =+,1%4 )4%+%+$ )&, =$1.*.(&$ %+0=&%$1.%&+ )+ )&O+%&1+ +1&.*.(&&3 9)>AC@Q'' ;+^& %+=%+G&,1F . =%.D*+HF >*&,&>F 04O&>&+,1 )+ O%+>@+,1F *$ =$>&+,[&& >4 =$1.*.(&+ =4*H.,$%FN )4%+%+$ 1.%$>&>F )+ >$4GF %+0=&%$1.%&+N 04D O.%HF $>41F 0$4 >%.,&>FN +01+ *$ H.H+,14* $>14$* =4[&, 014)&$1F =%&, 014)&& >*&,&>+ %&(4%.$0+3 8>+$01F =%.D*+HF +01+ &H=.%1$,1F $1A1 )&, =4,>1 )+ @+)+%+ $* )&O&>4*1F[&*.% O%+>@+,1+ )+ )&$(,.01&> )&O+%+,[&$*N B, 0=+>&$* >4 )4%+%+$ )+ >$4GF >$%)&.@$0>4*$%FN >A1 ^& )&, =4,>1 )+ @+)+%+ $* ,+>4,.0>41+*.% >$%+ =+%0&01F B, >++$ >+ =%&@+^1+ H$,$(+H+,14* )4%+%&& )&, $O+>[&4,&*+ %+0=&%$1.%&&3 #4*1&14)&,+$ $>+01.% ,+>4,.0>41+ O$>+ >$ *$ H.H+,14* $>14$*N 1%$1$H+,14* .=1&H $* )4%+%&& )&, =$1.*.(&$ %+0=&%$1.%&+ 0F %FHA,F )&0>41$D&*N B, *&=0$ ).@+G&*.% ^1&&,[&O&>+ >.,0&01+,1+N >$%+ )+1+%H&,F ^& *&=0$ 4,.% (]&)4%& >*&,&>+ O.>$*&G$1+ =+ $>+$01F =%.D*+H$1&>F3 X'KC')(&/"'* "3 ?3 S3 b3 Z3 _3
a3
\3 X3
€4 x$,( €JN c]$,( mx3 P1%4>14%+ 0*.~*} $)$=1&,( =4*H.,$%} 01%+1>] %+>+=1.%0 &, 1]+mN*4,( =+%&=]+%}3 m.4%,$* .O 8==*&+).O9]}0&.*.(}3 ?YYS m4* "qXZQ"RdS\ZeXS3 •$==$(.)$ 25N 7$@& •3 5]+ %$=&)*} $)$=1&,( %+>+=1.%0 &, H$HH$*&$, $&%~$}0 $,) 1]+&% %+0=.,0+0 1. >]$,(+0 &, +f1%$@$0>4*$% O*4&) @.*4H+3 6f= 9]}0&.*3 ?YY_ m4*qX"QbRd_baeZb3 T&0]&,. 53 ;}0=,.+$d 4,)+%*}&,( H+>]$,&0H0 $,) 1%+$1H+,13 `% m 8,$+01]3 ?Y"" 8=% "q"Y_QbRdb_Seab3 -&(]1 7x3 9*+4%$* ;&0+$0+03 -&==&,>.11 x&**&$H0 “ x&*j&,0q ?YYa3 bZ_ =3 #.,1+0 mJN L$%>Š$'g$*+%. mN J+%%+% m3 6@&)+,>+ .O &,,+%@$1&., &, 1$*>'&,)4>+) =*+4%$* $)]+0&.,03 2]+013 ?YY_ P+=q"SYQSRdaY?eX3 P141+ 9N P.4j4= mN #+,G+* #N P$D$1.~0j& 7N L%.,) P3 8,$*}0&0 $,) 1%+$1H+,1 .O )&OO+%+,1 1}=+0 .O ,+4%.=$1]&> >$,>+% =$&,3 m 9$&, P}H=1.H #$,$(+3 ?YYS ;+>q?_Q_Rd""?SeS"3 m$>j0., #-N T+4G&* •#N 5].H=0., xxN P]$} ;•N €4 /N l$,0., 28N +1 $*3 5]+ D4%)+, .O >.HH4,&1}'$>‰4&%+) =,+4H.,&$ &, 0+,&.%0d %+04*10 .O $ =.=4*$1&.,'D$0+) 014)}3 2*&, :,O+>1 ;&03 ?YYb ;+> "qSXQ""Rd"_b?eZY3 `%$,)+,D4%( m8N #$%%&+ 5mN 2.*+} 2#N P&,(+% ;6N /D%.0j} ;PN •$=..% xTN +1 $*3 2*&,&>$* 9%+0+,1$1&.,N 9%.>+00+0 $,) /41>.H+0 .O 2$%+ O.% 9$1&+,10 ~&1] 9,+4H.>.>>$* 9,+4H.,&$3 m L+, :,1+%, #+)3 ?YYY P+=q"ZQXRd_S\eb_3 •.+(+*+,D+%( 2JTN ;&$>., 8lN `.**&(+% 253 9$%$=,+4H.,&> =*+4%$* +OO40&., $,) +H=}+H$3 7+0=&%$1&.,3 ?YY\qaZQSRd?b"eZY3
"ZS
"Y3 2.*&>+ L-N 24%1&0 8N ;+0*$4%&+%0 mN l+OO,+% mN -&(]1 7N -&11+,D+%( `N +1 $*3 #+)&>$* $,) 04%(&>$* 1%+$1H+,1 .O =$%$=,+4H.,&> +OO40&.,0”d 8, +@&)+,>+'D$0+) (4&)+*&,+3 2]+013 ?YYY />1 "q""\QbRd""Z\ea"3 ""3 L%&(.%&4 `;N #&]F+0>4 5N #&1%.O$, 23 9$1.*.(&+ =*+4%$*Fq 6)&1 m4,&H+$N :$^& ?YYa3 "?3 50>].== m'#N 7$H&'9.%1$ 7N T.==+, #N 801.4* 93 #$,$(+H+,1 .O 0=.,1$,+.40 =,+4H.1].%$fd 01$1+ .O 1]+ $%13 64% 7+0=&% m3 ?YY_ P+= "q?\QSRd_SaeZY3 "S3 •$*.H+,&)&0 :N #.0>].0 2N •.**&,1G$ 8N P&($*$ :N P1$1].=.4*.0 L5N 9$=&%&0 P8N +1 $*3 9,+4H.1].%$f'$00.>&$1+) =*+4%$* +.0&,.=]&*&$ &0 14H.4% ,+>%.0&0 O$>1.%'$*=]$' )+=+,)+,1 $,) $11+,4$1+) D} 01+%.&)03 7+0=&%.*.(}3 ?YY\ m$,q"SQ"RdaSe\3 "b3 :}+% gTN m.0]& 8€N 7}4 ml3 P=.,1$,+.40 =,+4H.H+)&$01&,4Hd $,$*}0&0 .O _? >.,0+>41&@+ $)4*1 =$1&+,103 #$}. 2*&, 9%.>3 ?YYX #$}q\bQZRdb"ae?"3 "Z3 ;+, 6f1+% 9-N @$, )+% l4**+ 5N •*.j J8N l4&0H$, #g3 8)@$,>+0 &, 1]+ )&$(,.0&0 $,) H$,$(+H+,1 .O $>41+ =4*H.,$%} +HD.*&0H3 5]%.HD 7+03 ?Y"b #$}q"SS P4==* ?dP"Ye "_3 "_3 l+ lN P1+&, #xN c$*1$ `N l$%$H$1& -`3 94*H.,$%} &,O$%>1&.,d 0=+>1%4H .O O&,)&,(0 ., H4*1&)+1+>1.% ]+*&>$* 253 m 5].%$> :H$(&,(3 ?YY_ #$%q?"Q"Rd"ea3 "a3 74D&, -m3 9$1].*.(} $,) =$1].=]}0&.*.(} .O =%&H$%} =4*H.,$%} ]}=+%1+,0&.,3 8H m 2$%)&.*3 "XXZ m$, "XqaZQSRdZ"8eZb83 "\3 P&HH.,0 29-N #$>-+.) TN -$&%) `m83 2*&,&>$* #$,$(+H+,1 .O 9$&, &, 8)@$,>+) -4,( 2$,>+%3 2*&, #+) :,0&(]10 /,>.*3 ?Y"? />1 \q_dSS"eb_3 "X3 9.%1+,.} 7•3 5%+$1H+,1 .O >$,>+% =$&,3 -$,>+13 ?Y"" m4, ?ZqSaaQXa\bRd??S_eba3 ?Y3 `%&H0 JmlN ;$@&+0 l6N -++ €2L3 7+0=&%$1.%} >]+01 =$&,d )&$(,.0&0 $,) 1%+$1H+,13 #+) 2*&, T.%1] 8H3 ?Y"Y #$%qXbQ?Rd?"aeS?3 ?"3 /=&1G :3 #$,$(+H+,1 .O H$*&(,$,1 =*+4%$* H+0.1]+*&.H$'5]+ 64%.=+$, +f=+%&+,>+3 m 5].%$> ;&03 ?Y"b #$}q_QP4==* ?RdP?S\eP?Z?3 ??3 T$k&D #3 7$]H$,N 2]$=H$, PmN ;$@&+0 7m/3 9*+4%$* +OO40&.,d $ 01%4>14%+) $==%.$>] 1. >$%+3 `% #+) `4**3 ?YYb m$, "qa?Q"RdS"eba3 ?S3 J4%%+% #N 7+>]01+&,+% 7N 6&(+,H$,, gN P&(,+% 2N 8*1]$40
"Zb
SY3 8,)+%0., 7N P$&+%0 mlN 8D%$H PN P>]*&>]1 23 8>>4%$>} &, +‰4&$,$*(+0&> ).0&,(3 >.,@+%0&., )&*+HH$03 m 9$&, P}H=1.H #$,$(+3 ?YY" #$}q?"QZRdSXaebY_3 S"3 l$,j0 LxN 2.,,. JN 2]+%,} TN l$,,$ #N •$*0. 6N #>†4$} lmN +1 $*3 #.%=]&,+ $,) $*1+%,$1&@+ .=&.&)0 &, >$,>+% =$&,d 1]+ 6892 %+>.HH+,)$1&.,03 `% m 2$,>+%3 ?YY" #$% ?q\bQZRdZ\aeXS3 S?3 ;~.%j&, 7lN /t2.,,.% 8`N `$>j.,k$ #N J$%%$% m5N J&,,+%4= T`N m+,0+, 5PN +1 $*3 9]$%H$>.*.(&> H$,$(+H+,1 .O ,+4%.=$1]&> =$&,d +@&)+,>+'D$0+) %+>.HH+,)$1&.,03 9$&,3 ?YYa ;+> Zq"S?QSRd?SaeZ"3 SS3 x$10., 293 5]+ 1%+$1H+,1 .O ,+4%.=$1]&> =$&,d $,1&)+=%+00$,10 $,) .=&.&)03 2*&, m 9$&,3 ?YYY m4,q"_Q? P4==*RdPbXeZZ3 Sb3 l400$&, 8#N 8O0]$, L3 <0+ .O $,1&>.,@4*0$,10 )%4(0 O.% ,+4%.=$1]&> =$&,O4* >.,)&1&.,03 m 9$j #+) 800.>3 ?YY\ ;+>qZ\Q"?Rd_XYe_3 SZ3 6&0+,$>] m2N ;49+, PN ;4D.&0 #N #&(4+* 7N 8**&, ;3 6=&)4%$* >*.,&)&,+ $,$*(+0&$ O.% &,1%$>1$D*+ >$,>+% =$&,3 5]+ 6=&)4%$* 2*.,&)&,+ P14)} L%.4=3 9$&,3 "XXZ m4,q_"QSRdSX"e X3 S_3 9$%0.,0 2L3 T#;8 %+>+=1.%0 $0 1$%(+10 O.% )%4( $>1&., &, ,+4%.=$1]&> =$&,3 64% m 9]$%H$>.*3 ?YY" />1 "Xqb?XQ"'SRda"e\3 Sa3 `+** 7JN 6>>*+01., 2N •$*0. 683 •+1$H&,+ $0 $, $)k4@$,1 1. .=&.&)0 O.% >$,>+% =$&,3 2.>]%$,+ ;$1$D$0+ P}01 7+@3 ?Y"?q""d2;YYSSZ"3 S\3 `.,)„% 8N PG4>0 PN :.].H L3 5].%$>&> =$%$@+%1+D%$* D*.>j$)+3 #+) <*1%$0.,3 ?Y"Y P+=q"?QSRd??Sea3 SX3 •$%H$j$% #•3 5].%$>&> =$%$@+%1+D%$* D*.>j3 8,+01]+0&.*.(}3 ?YY" P+=qXZQSRdaa"e\Y3 bY3 m.0]& L9N `.,,+1 JN P]$] 7N x&*j&,0., 72N 2$H4 JN J&0>]+% `N +1 $*3 8 0}01+H$1&> %+@&+~ .O %$,).H&G+) 1%&$*0 +@$*4$1&,( %+(&.,$* 1+>],&‰4+0 O.% =.011].%$>.1.H} $,$*(+0&$3 8,+01] 8,$*(3 ?YY\ P+=q"YaQSRd"Y?_ebY3 b"3 P14$%1 LN 2%$H.,) 53 7.*+ .O =+%>41$,+.40 >+%@&>$* >.%).1.H} O.% =$&, .O H$*&(,$,1 .%&(&,3 #+) m 84013 "XXS #$} "aq"Z\Q"YRd__aeaY3 b?3 P$,)+%0 #N c44%H.,) x3 P$O+1} .O 4,&*$1+%$* $,) D&*$1+%$* =+%>41$,+.40 >+%@&>$* >.%).1.H} &, \Y 1+%H&,$**} &** >$,>+% =$1&+,103 m 2*&, /,>.*3 "XXZ m4,q"SQ_Rd"ZYXe"?3 bS3 c44%H.,) xx8N 9+%+G 7PL#N -.+% P83 7.*+ .O >+%@&>$* >.%).1.H} $,) .1]+% ,+4%.*}1&> =%.>+)4%+0 &, 1].%$>&> >$,>+% =$&,3 24%% /=&, P4==.%1 9$**&$1 2$%+3 ?Y"Y #$%qbQ"Rd_e"Y3 bb3 9$11 7`N 7+))} P3 P=&,$* ,+4%.*}0&0 O.% >$,>+% =$&,d &,)&>$1&.,0 $,) %+>+,1 %+04*103 8,, 8>$) #+) P&,($=3 "XXb #$%q?SQ?Rd?"_e?Y3 bZ3 #}+%0 ;9N -+H$ #mN )+ -+.,'2$0$0.*$ /8N `$>., ;73 :,1+%=*+4%$* $,$*(+0&$ O.% 1]+ 1%+$1H+,1 .O 0+@+%+ >$,>+% =$&, &, 1+%H&,$**} &** =$1&+,103 m 9$&, P}H=1.H #$,$(+3 "XXS />1q\QaRdZYZe"Y3
"ZZ
N120204 7, 3,93;3%70 5*)+)&/ 4C*U/V ;@A'/> 6'&)> ;&0>&=*&,$ )+ /,>.*.(&+ <#J oL%&(.%+ 53 9.=$o :$^& :,01&1414* 7+(&.,$* )+ /,>.*.(&+ h# 7>?&)+@A*&* ;4%+%+$ +01+ 4, 0&H=1.H O%+>@+,1 *$ =$>&+,[&& >4 >$,>+%N =41A,) O& B,1A*,&1 B, .%&>+ H.H+,1 $* +@.*4[&+& ' B,$&,1+ )+ )&$(,.01&>N =+ =$%>4%04* 1%$1$H+,14*4&N B, 01$)&&*+ 1+%H&,$*+ I& >]&$% )4=F .D[&,+%+$ %+H&0&+& D.*&& ,+.=*$G&>+3 6$ %+=%+G&,1F 4, H.1&@ )+ B,(%&k.%$%+ =+,1%4 =$>&+,[&N >$%+ $0.>&$GF >$,>+%4* >4 )4%+%+$N )$1.%&1F +f=+%&+,[+*.% =+%0.$,+*.% )&, k4% 0$4 &,O.%H$[&&*.% )&, H$00'H+)&$3 5+%$=&$ $,1$*(&>F B, .,>.*.(&+ =%+G&,1F . 0+%&+ )+ =$%1&>4*$%&1F[&N =+ )+ . =$%1+ )$1.%&1F H+>$,&0H+*.% H&f1+ &H=*&>$1+N Q>++$ >+ )4>+ 4,+.%& *$ &,+O&>&+,[$ 1%$1$H+,14*4& 01$,)$%)R I& =+ )+ $*1F =$%1+ )$1.%&1F %+>$*>&1%$,[+& D.*,$@&*.% )+ $ %$=.%1$ $)+@F%$1$ &,1+,0&1$1+ $ )4%+%&& )+ 1+$HF >$ H+)&>4* 0F ,4 *+ H.)&O&>+ 1%$1$H+,14* $,1&,+.=*$G&>3 ;+ .D&>+&N =$>&+,[&& >4 >$,>+% B, 01$)&4* $@$,0$1 0+ $)%+0+$GF =+,1%4 =%+G+,[$ 4,4& $,0$HD*4 )+ 0&H=1.H+ =%&,1%+ >$%+ +01+ &,>*40F I& )4%+%+$ ' 1+%$=&$ $,1$*(&>F 1%+D4&+ $*+$0F $01O+* B,>A1 0F ,4 $(%$@+G+ >+*+*$*1+ 0&H=1.H+ Q)+ +f+H=*4N .=&.&G&& $(%$@+$GF >.,01&=$[&$R ‚"ƒ3 ;$1.%&1F >.H=*+f&1F[&& D.*&& )+ D$GF I& >.H.%D&)&1F[&*.%N 0>$%$ $,$*(+G&>F S'' )>A)C)('A'^ %+>.H$,)$1F )+ /#P ,4 +01+ B,1.1)+$4,$ ' =.1 H&,&H$*&G$ &,1+,0&1$1+$ )4%+%&& $=*&>$D&*F ‚?ƒN B, 0=+>&$* B, >.,1+f14* %.*4*4& )$1.%&1F ).%&,[+& )+ $ D+,+O&>&$ )+ &H=.%1$,1 =+ >$%+ 1+%$=&&*+ $,$*(+G&>+ 1%$1$H+,1 &,1+%@+,[&.,$*+ Q>$%+ ,4 04,1 &,>*40+ B, 0>$%$ ' =.1 +f$(+%$ &,1+,0&1$1+$ )4%+%&& >*$0&>FR B* $4 *$ $,4H&[& =$>&+,[&3 5%+D4&+ )+.$%+>+ =%+G&,1F . )+=+,)+,[F )+ [&,41 >.,1N )+ $0+H+,+$N I& )+ O$=14* >F . 1%$1$H+,14* .=&.&) Q=$>&+,[& >4 %&0> )+ =$%1+ )&, $,$*(+G&>+ =.1 &,1+%$>[&.,$ >4 $D4G .=&.&)R >]&H&.1+%$=&$ 0$4 >4 1+%$=&$ H.*+>4*$%F ' =.1 O& )+k$ 04D 1%$1$H+,1 .=&.&) B, [&,1&1F I& @&>+'@+%0$ ' $>+01+ 1%$1$H+,1+ =.1 H.H+,14* B, >$%+ 0+ $)%+0+$GF =+,1%4 0>F)+$ +O&>&+,[$ 1+%$=&+& BH=.1%&@$ )4%+%&&3 )4%+%+ #+)&>4* &H=*&>$1 B, 1+%$=&$ $,1$*(&>F $ ' =.1 ,+>+0&1$ &,1+%,$%+ =+,1%4 >.,1%.*4* =$>&+,[&*.% .,>.*.(&>& 1%+D4&+ 0F 01$D&*+$0>FN )4%+%&& BH=%+4,F >4 $>+I1&$N 1%$1$H+,14* .=1&HN ' 1%+D4&+ %++@$*4$[& >.,01$,1 =+,1%4 $ [&,A,) >.,1 )+ O$=14* >F ,4 B,1.1)+$4,$ 0+ $=%+>&$ ,&@+*4* )4%+%&& =.$1+ .D[&,+ . $H+*&.%$%+ >.H=*+1F $ )4%+%&& I& >F $I1+=1F%&*+ &,)&@&)4$*+N 1.*+%$,[$ *$ +O+>1+*+ 0+>4,)$%+ I& >.H.%D&)&1F[&*+ @.% O& >+& H$& &H=.%1$,[& O$>1.%& >+ @.% (]&)$ 1+%$=&$3 ;$>F B, +=&0.$)+*+ $>41+ )+ )4%+%+ .,>.*.(&>F 0+ 41&*&G+$GF $=%.$=+ +f>*40&@ 1+%$=&+ .=&.&)FN B, O.%H+*+ >%.,&>+ .=[&4,&*+ 1+%$=+41&>+ 04,1 )&@+%0+3 C, 7.HA,&$N 1+%$=&$ .=&.&)F >%.,&>F +01+ 4,+.%& =%&@&1F >4 ,+B,>%+)+%+N $1A1 )+ >F1%+ 4,&& H+)&>&N >A1 I& )+ =$>&+,[&N )$1.%&1F *&=0+& )+ +f=+%&+,[FN >.,1+f14*4& *+($* &,04O&>&+,1 >4,.0>41 I& =%+k4)+>F[&*.% &01.%&>+ O$[F )+ $>+$01F >*$0F )+
"Z_
H+)&>$H+,1+3 :, $>+01 >.,1+f1N ,+>.H=*&$,[$ *$ 1+%$=&$ .=&.&)F >%.,&>FN =+ )+ . =$%1+N I& 04D1%$1$%+$ )4%+%&&N )+ >+$*$*1F =$%1+ 04,1 H$& O%+>@+,1 B,1A*,&1+ B, $>+$01F =$1.*.(&+ ‚?ƒ ' 014)&&*+ &,)&>F 4, =%.>+,1 )+ ZY{ )&, =$>&+,[&& .,>.*.(&>& $ >F%.% )4%+%+ +01+ &,04O&>&+,1 1%$1$1F ‚Sƒ3 l# 7HG/A?@C k' G&*I/C*>S/ +@&*&'' W> A/>A*& 9%+@$*+,[$ >$,>+%4*4& +01+ B, >%+I1+%+N O&&,) +01&H$1+ >&%>$ "a H&*&.$,+ )+ >$G4%& ,.& =+ $, B, k4%4* $,4*4& ?Y?Y ‚bƒ3 ;4%+%+$ =.$1+ O& =%+G+,1F B, .%&>+ H.H+,1 $* D.*&&N >4 . =%+@$*+,[F >+ >%+I1+ =%.(%+0&@ )&, H.H+,14* )&$(,.01&>4*4& =A,F *$ 01$)&&*+ 1+%H&,$*+3 #$& H4*1N )4%+%+$ =.$1+ O& )+1+%H&,$1F ,4 ).$% )+ >$,>+%N >& I& )+ 1+%$=&$ $,1&,+.=*$G&>F H4*1&H.)$*FN >+ &,>*4)+ >]&H&.1+%$=&+N >]&%4%(&+N %$)&.1+%$=&+ I& ].%H.,.1+%$=&+ >+ =.$1+ )+1+%H&,$ +$ B,0FI& $=$%&[&$ 0&,)%.$H+*.% )4%+%.$0+ $>41+ 0$4 >%.,&>+3 601&H$%+$ =%+@$*+,[+& )4%+%&& B, .,>.*.(&+ +01+ )&O&>&*F ‚Zƒq $=%.f&H$1&@ ?Z{ )&, =$>&+,[&& ,.4')&$(,.01&>$[& >4 >$,>+% $>4GF )4%+%+ ‚_ƒN &$% (]&)4* P.>&+1F[&& 64%.=+,+ )+ /,>.*.(&+ #+)&>$*F %$=.%1+$GF . =%+@$*+,[F $ )4%+%&& )+ ZX{ *$ =$>&+,[&& B, 1%$1$H+,1 $>1&@ $,1&,+.=*$G&>N SS{ *$ >+& >+ $4 4%H$1 4, 1%$1$H+,1 $,1&,+.=*$G&> >4 @&GF >4%$1&@F I& _b{ *$ >+& >4 D.$*F $@$,0$1F 0$4 H+1$01$1&>F 0$4 B, O$GF 1+%H&,$*F ‚aƒ3 24 1.$1+ >F 1.$1+ ,+.=*$G&&*+ 04,1 $0.>&$1+ >4 )4%+%+N =%+@$*+,[$ )4%+%&& H.)+%$1'0+@+%+ +01+ O.$%1+ H$%+ B, 0=+>&$* B, >$G4* >$,>+%+*.% .0.$0+ I& >$,>+%+*.% )&, 0O+%$ /7- Q@3 1$D+* "R3 #$& H4*1N 0&,)%.$H+ )4%+%.$0+ )+ &,1+,0&1$1+ H$%+ =.1 O& )+1+%H&,$1+ I& )+ H+1$01$G+ ' B, 0=+>&$* >+*+ .0.$0+N H$& )4%+%.$0+ )+>A1 >+*+ )+ *$ ,&@+*4* [+0414%&*.% H.& ‚\ƒ3 5%$1$H+,1+*+ $,1&,+.=*$G&>+ =.1 &,)4>+ )4%+%+ =%&, +*+ B,0+*+N $1A1 =+ 1+%H+, 0>4%1 Q=+ =$%>4%04* 1+%$=&+&RN >A1 I& =+ 1+%H+, *4,( Q)+ +f+H=*4N )4%+%+$ =.01'H$01+>1.H&+ 0$4 =.01'%$)&.1+%$=&+RN B, >$G4* 04=%$@&+[4&1.%&*.% )+ >$,>+%3 5$D+* "3 9%+@$*+,[$ )4%+%&& H.)+%$1'0+@+%+ B, O4,>[&+ )+ 1&=4* )+ >$,>+% Q$)$=1$1 )4=F ‚aN X' ""ƒR 5&= >$,>+% 2$,>+% .0.0 2$,>+%+ B, 0O+%$ /72$,>+%+ (+,&1.'4%&,$%+ *$ 0+f4* H$0>4*&, 2$,>+%+ (+,&1.'4%&,$%+ *$ 0+f4* O+H&,&, 2$,>+%4* H$H$% 2$,>+%4* D%.,].'=4*H.,$% 2$,>+%4* =$,>%+$1&> -&HO.$H+ -+4>+H&&
9%+@$*+,[F \Y'XY{ \Y'XY{ aY'\Y{ _Z'aZ{ ZY'ZZ{ bY'ZY{ bb{ ?Y'?Z{ Z'"Y{
C, (+,+%$*N )4%+%+$ *$ =$>&+,[&& .,>.*.(&>& +01+ )+ &,1+,0&1$1+ H.)+%$1FN B,0F >$%$>1+%4* +& >.,1&,44N 04%)N >4 +=&0.$)+ .>$G&.,$*+ )+ )4%+%+ $>41FN $%+ %+=+%>40&4,& 0+@+%+ $04=%$ O4,>[&.,$*&1F[&& I& >$*&1F[&& @&+[&& =$>&+,14*4& .,>.*.(&>3 7+*$1&@$ %+G&01+,[F *$ 1+%$=&&*+ $,1$*(&>+ 4G4$* %+>.H$,)$1+ B, 1%+$=1$ B,1A& =+ 0>$%$ $,$*(+G&>F )4>+ *$ +0>$*$)$%+$ %$=&)F $ 1+%$=&+&N $01O+* B,>A1 aZ{ )&, =$>&+,[&& >4 >$,>+% @.% $@+$N B, +@.*4[&+N >+* =4[&, 4, +=&0.) )+ )4%+%+ >+ @$ ,+>+0&1$ 1+%$=&+ >4 .=&.&G& ‚"?ƒ3 ;4%+%+$ B, >$,>+%N *&=0$ 4,4& 1%$1$H+,1 >.%+>1 $* $>+01+&$ I& +=&0.$)+*+ )+ )4%+%+ $>41F =.1 )+1+%H&,$ ‚Zƒd ' )+=%+0&+
"Za
' $>>+,14$%+$ ,+,+>+0$%F $ 04O+%&,[+& ' $,f&+1$1+ ' )&H&,4$%+$ >$*&1F[&& @&+[&& ' )&H&,4$%+$ O4,>[&.,$*&1F[&& e# 5'G@&' +* +@&*&* W> A/>A*& T+4%.O&G&.*.(&$ )4%+%&& )+1+%H&,$1+ )+ 14H.%F +01+ >.H=*+fFN )+.$%+>+ 04,1 &H=*&>$1+ H+>$,&0H+ )+ 1&= &0>]+H&>N ,+4%.=$1N &,O*$H$1.% I& >.H=%+0&@ B, =%.=.%[&& )&O+%&1+ )+ *$ 4, =$>&+,1 *$ $*14*3 #+)&>4* &H=*&>$1 B, 1+%$=&$ )4%+%&& *$ =$>&+,[&& .,>.*.(&>& 1%+D4&+ 0F )+>&)F )$>F . )4%+%+ +01+ ,.>&>+=1&@FN @&0>+%$*FN ,+4%.=$1F 0$4 . >.HD&,$[&+ $ $>+01.%$ =+,1%4 $ $*+(+ 1+%$=&$ $,1$*(&>F .=1&HF ‚?ƒ3 ;$1.%&1F >.H=*+f&1F[&& I& >$%$>1+%4*4& H4*1&O$>1.%&$* $* )4%+%&& *$ =$>&+,[&& .,>.*.(&>&N 04,1 41&*&G$1+ . 0+%&+ )+ >*$0&O&>F%& +1&.=$1.*.(&>+ >4 0>.=4* )+ $ 01$D&*& >A1 H$& +f$>1 H+>$,&0H4* )+ =%.)4>+%+3 bC]C ;+*(*( "%/'/(,)'73 7(*8+8 1+*(*( "(+*%,2)3 S3"3"3 T.>&>+=[&$ %+=%+G&,1F . =+%>+=[&+ )4%+%.$0F &,)40F )+ %+>+=1.%&& 0+,G.%&$*& =+,1%4 )4%+%+ Q,.>&>+=1.%&R *.>$*&G$[& B, =+%&O+%&+ ‚"Sƒ3 P1&H4*4* ,.>&>+=1&@ =.$1+ =%.@+,& )&,1%'. *.>$[&+ 7'8/(*2&3 Q)4%+%+$ )+ *$ ,&@+*4* .%($,+*.% &,1+%,+R 0$4 8%92)'/3 Q)4%+%+$ )+ *$ ,&@+*4* =&+*&&N H4I>]&*.%N .$0+*.% I& $%1&>4*$[&&*.%R3 7+>+=1.%&& &H=*&>$[& B, $>+01 1&= )+ )4%+%+ 04,1 )+ 1&= H+>$,.%+>+=1.%& Q$>1&@$[& )+ =%+0&4,+RN 1+%H.%+>+=1.%& Q$>1&@$[& )+ >$*) 0$4 %+>+R I& >]+H.%+>+=1.%& Q$>1&@$[& )+ 04D01$,[+ >]&H&>+N >+* H$& O%+>@+,1 >4 +O+>1 &,O*$H$1.%R ‚Zƒ3 ;+,0&1$1+$ 0>FG41F $ %+>+=1.%&*.% 0+,G&1&@& @&0>+%$*& )+1+%H&,F )&O&>4*1$1+$ *.>$*&GF%&& >*&,&>+ +f$>1+ $ @&0>+%4*4& $O+>1$13 2$%$>1+%&01&>& >*&,&>+d ' )4%+%+$ @&0>+%$*F ' . )4%+%+ )&O4GFN &H=%+>&0 *.>$*&G$1FN >+* H$& O%+>@+,1 =+%>+=41F B, =$%1+$ &,O+%&.$%F $ 01+%,4*4& 0$4 =+ *&,&$ H&k*.>&+ $ $D).H+,4*4& 04=+%&.%3 -.>$*&G$%+$ ,4 %+*+@F B,1.1)+$4,$ 0+)&4* %+$* $* .%($,4*4& $O+>1$1 Q)+ +f+H=*4N . $O+>1$%+ $ @+G&>&& 4%&,$%+ 0+ =.$1+ 1%$)4>+ >*&,&> >$ )4%+%+ =+%&,+$*F 0$4 . )4%+%+ *$ ,&@+*4* 4%+1+%4*4& 01A,( 0+ =.$1+ =%.&+>1$ *$ ,&@+*4* O.0+& 01A,(& I& &,(]&,$*R ‚"bƒ3 9$>&+,[&& )+0>%&4 >%$H=+ 0$4 )4%+%+ )+ 1&= 4*>+%.0N %+*$1&@ &H=%+>&0 *.>$*&G$1F3 ' )4%+%+$ 0.H$1&>F ' =$>&+,[&& )+0>%&4 . )4%+%+ $>41FN D&,+ *.>$*&G$1F3 ;4%+%+$ )+ .%&(&,+ >41$,$1F +01+ >+* H$& O%+>@+,1 =+%>+=41F >$ . B,[+=F14%F 0$4 >$ . $%04%F3 2+* H$& O%+>@+,1N )4%+%+$ +01+ =+%>+=41F B, $>+*$I& *.> B, >$%+ 01&H4*4& )4%+%.0 $ $>[&.,$1 ‚"Zƒ3 S3"3?3 ;4%+%+$ ,+4%.=$1F +01+ )4%+%+$ >$4G$1F )+ . *+G&4,+ 0$4 . D.$*F $ 0&01+H4*4& ,+%@.0 ‚"_ƒ3 601+ . >.,0+>&,[F O&+ $ *+GF%&& ,+%@&*.% =+%&O+%&>&N O&+ $ =%.>+0F%&& >+,1%$*+ $ )4%+%&& ‚"aƒN >+ )+1+%H&,F =%+G+,[$ 4,+& =+%>+=[&& )4%+%.$0+ B, $D0+,[$ .%&>F%4& 01&H4* 0$4 . =+%>+=[&+ $,.%H$*F 4,4& 01&H4* $,1+%&.% =+%>+=41 >$ ,+)4%+%.03 2$%$>1+%&01&>& >*&,&>+ ' >*$0&>N )4%+%+$ ,+4%.=$1F =%+G&,1F 1%+& >.H=.,+,1+ >*&,&>+ Q,4 +01+ ,+>+0$% >$ 1.$1+ 1%+& 0F O&+ =%+G+,1+ =+,1%4 $ 01$D&*& )&$(,.01&>4* )+ )4%+%+ ,+4%.=$1FR ‚"\ƒd ' )4%+%+ >.,1&,4F ' )+0>%&0F >$ $%04%FN oO&+%D&,[+$*FoN )4%+%+ 04%)FN >.,1&,4FN )+ &,1+,0&1$1+ H.)+%$1F Qo$>]&,( =$&,oR ' )4%+%+ *$,>&,$,1F ' +=&0.$)+ )+ $>41&G$%+ B, >$%+ )4%+%+$ +01+ =+%>+=41F >$ 4,oI.> +*+>1%&>oN )4%+%+ $0>4[&1F )+ &,1+,0&1$1+ H$%+ ' $,.H$*&& 0+,G.%&$*+ ' =$%+01+G&&N $H.%[+$*FN =$>&+,[&& %+*$1+$GF >F o0+ H&I>F =+ $>+o
"Z\
bCcC ;+*(*( 1()(*9'"2)3 1( /2"/(* 7(*8+8 1+*(*( 1()(*9'"2)3 1( )(*2,'2 2")'"(%,&24'/3 7(*8+8 1+*(*( 1( 2&)( /2+4( t]cu S3?3"3 ;4%+%+$ )+1+%H&,$1F )+ >$,>+% =.$1+ O& *$ %A,)4* 0F4 BH=F%[&1F B, )4%+%+ )+1+%H&,$1F )+ 14H.%FrH+1$01$G+ I& B, 0&,)%.$H+ )4%+%.$0+ &,)40+ )+ >$,>+% ‚"Xƒd ' 0&,)%.H4* )4%+%.0 )+1+%H&,$1 )&%+>1 )+ 14H.%F 0$4 H+1$01$G+ QaY{R $=$%+ >+* H$& O%+>@+,1 =%&,d - &,@$G&$ .0.$0F - &,@$G&$ 0$4 >.H=%+0&$ 01%4>14%&*.% ,+%@.$0+ - .D01%4>[&$ @&0>+%+*.% >$@&1$%+ - .D01%4>[&$ )4>1$*F $ @&0>+%+*.% ,.,'>$@&1$%+ - .D01%4>[&+ 0$4 &,@$G&+ @$0>4*$%F - $O+>1$%+$ r 4*>+%$%+$ H+HD%$,+*.% H4>.$0+ ' 0&,)%.$H+ )4%+%.$0+ &,)40+ )+ >$,>+% Q™"Y{Rd - 0&,)%.$H+ =$%$,+.=*$G&>+d ' 0&,)%.H 6$1.,'-$HD+%1N +,>+O$*&1$N =.*&H&$*(&&N =.*&$%1%&1F %+4H$1.&)F - )4%+%+ $0.>&$1F >4 )+D&*&1$%+$ ' +0>$%+N >.,01&=$[&+N 0=$0H %+>1$* 0$4 @+G&>$* S3?3?3 ;4%+%+$ B, >.,1+f14* 1+%$=&&*.% $,1&,+.=*$G&>+ Q?Y{R +01+ >+* H$& O%+>@+,1 )+1+%H&,$1F )+d ' =%.>+)4%& )&$(,.01&>+ &,@$G&@+ QD&.=0&+N =4,>[&+N +1>R ' )4%+%+ $>41F =.01'.=+%$1.%&+ 0$4 0&,)%.$H+ =.01'>]&%4%(&>$*+ Q=.01'H$01+>1.H&+N =.01' 1.%$>.1.H&+N =.01'$H=41$[&+R ' )4%+%+$ =.01'%$)&.1+%$=&+ Q756R ' *+G$%+$ =*+f4%&*.% ,+%@.$0+N H4>.G&1FN +,1+%&1F 'S3?3S3 )4%+%+$ =.01'>]&H&.1+%$=&+ ' H4>.G&1FN ,+>%.GF $0+=1&>FN ,+4%.=$1&+ ;4%+%+$ )+ $*1+ >$4G+ Q2l5R ' B, 0=+>&$* *$ @A%01,&>&N >$%+ %+=%+G&,1F 4, =%.>+,1 B, >%+I1+%+ )&, 1.1$*4* =.=4*$[&+& .,>.*.(&>+3 8>+I1&$ $4 O%+>@+,1 I& >.H.%D&)&1F[& >+ 04,1 %+=.,0$D&*+ )+ $=$%&[&$ )4%+%&& Q)4%+%& %+4H$1&>+N ,+4%.=$1&+ )&$D+1&>FR ' $>+01+$ ,4 04,1 *+($1+ ,&>& )+ 14H.%FN ,&>& )+ 1%$1$H+,14* .,>.*.(&>N )$% &,1+%$>[&.,+$GF >4 $>+01+$ I& =.1 &,O*4+,[$ +@.*4[&$ I& H$,$(+H+,14* >$,>+%4*4&3 bCbC ;+*(*( 2/+)3 7(*8+8 1+*(*( /*%"'/3 S3S3"3 ;4%+%+$ $>41F =.$1+ O& . >.,0+>&,[F $ >]&%4%(&+&N $ *+G&4,&& 1&04*$%+ 0$4 $ 1%$1$H+,14*4&3 ;+D414* +01+ D%40>N &,1+,0&1$1+$ H$%+ I& B, (+,+%$* )4%+%+$ 0+ $H+*&.%+$GF )4=F . =+%&.$)F %+*$1&@ 0>4%1F )+ 1&H=3 C, (+,+%$*N >$4G$*&1$1+$ +01+ 4I.% )+ )+1+%H&,$1 )+.$%+>+ )4%+%+$ ).H&,F 1$D*.4* >*&,&> I& (]&)+GF &,@+01&($[&&*+ &H$(&01&>+ I& D&.>]&H&>+ Q)+ +f+H=*4N )4%+%+$ )&, .>*4G&$ &,1+01&,$*FR3 C, (+,+%$*N %F0=4,04* *$ $,$*(+G&>+ +01+ 0$1&0OF>F1.% ‚?Yƒ3 S3S3?3 ;4%+%+$ >%.,&>FN ,4H&1F I& )4%+%+ =+%0&01+,1FN +01+ 4, 0&,)%.H $*(&> >4 )4%$1$ H$& H$%+ )+ S *4,&N O%+>@+,1 )+1+%H&,$1F )+ +@.*4[&$ D.*&& .,>.*.(&>+ 0$4 )+ 1+%$=&&*+ $,1&,+.=*$G&>+3 601+ =%+G+,1F H$& H4*1+ )+ "? .%+rG&N &$% +1&.=$1.(+,&$ +01+ )&O&>&* )+ 01$D&*&13 ;+D414* +01+ )+ .D&>+& &,0&)&.0N >4 $(%$@$%+ =%.(%+0&@FN &$% )4%+%+$ =.$1+ =+%0&01$ I& )4=F B,*F14%$%+$ >$4G+&3 601+ B, (+,+%$* %+O%$>1$%F *$ 1+%$=&+ $,1$*(&>F 01$,)$%) ‚?Yƒ3 C, )4%+%+$ $>41FN (*41$H$14* +01+ +*&D+%$1 )&, 1+%H&,$[&&*+ ,.>&>+=1&@+ I& 0+ *+$(F )+ %+>+=1.%&& 8#98 I& T#;8q %+>+=1.%4* 8#98 +01+ 4, %+>+=1.% >4 =%$( )+ 01&H4*$%+ 0>FG41 $ >F%4& $>1&@$%+ )+1+%H&,F 4, O*4f %$=&) )+ 0.)&4 I& =.1$0&43 7+>+=1.%4* T#;8 $%+ 4, =%$( )+ 01&H4*$%+ H$& %&)&>$1 )$1.%&1F =%+G+,[+& #( ?v B, 01%4>14%F I& )+>& ,4 0+ @$ $>1&@$ >.H=*+1 B,
"ZX
H.H+,14* =%+G+,[+& 01&H4*4& )4%+%.0 $>413 ;$>F )4%+%+$ 0+ >%.,&>&G+$GF B,0FN +f>+04* )+ (*41$H$1 @$ )+1+%H&,$ $>1&@$%+$ >.H=*+1F $ %+>+=1.%4*4&N >++$ >+ @$ )+1+%H&,$ 4, &,O*4f &,1%$>+*4*$% )+ >$*>&43 2$*>&4* &,1%$>+*4*$% @$ %+$>[&.,$ >4 =%.1+&,'j&,$G$ 2 I& ,&1%&>'.f&) 0&,1$G$ )+1+%H&,A,) O.%H$%+$ .f&)4*4& ,&1%&>3 /f&)4* ,&1%&> @$ &,)4>+ . 0+%&+ )+ H.)&O&>F%& *$ ,&@+*4* ,.>&>+=1.%4*4& >$%+ @.% B,(%+4,$ $>[&4,+$ .=&.&G&*.% +f.(+,& I& +,).(+,&N $0=+>1 >+ +f=*&>F =$%[&$* %+G&01+,[$ )4%+%&& >%.,&>+ *$ 1%$1$H+,14* $,1$*(&> 01$,)$%) ‚?"ƒ3 9+,1%4 $ BH=&+)&>$ 1%$,0O.%H$%+$ )4%+%&& $>41+ B, )4%+%+ >%.,&>F I& )+>& H.)&O&>$%+$ $,$1.H&>F $ ,.>&>+=1.%&*.%N +01+ +0+,[&$* >$ 1%$1$H+,14* $,1$*(&> *$ =$>&+,[&& .,>.*.(&>& 0F O&+ &,&[&$1 B,>F )+ *$ =%&H+*+ $>4G+ I& ,4 )4=F B,>]+&+%+$ 1+%$=&+& $,1&,+.=*$G&>+3 m# 0I/C@/&*/ +@&*&'' b3"3 9%&,>&=&& (+,+%$*+ ' =$>&+,14* .,>.*.(&> 1%+D4&+ +@$*4$1 )&, =4,>1 )+ @+)+%+ $* )4%+%&& C/ "'*A/&* /+&*./&* ‚??ƒ ' &,1+,0&1$1+$ )4%+%&& 1%+D4&+ 0F O&+ >4$,1&O&>$1F )+ >F1%+ H+)&> 41&*&GA,) 4, &,01%4H+,1 @$*&)$1q =$>&+,14* 1%+D4&+ &H=*&>$1 B, =%.>+04* )+ +@$*4$%+N .O+%&,) &,O.%H$[&& %+O+%&1.$%+ *$ )4%+%+ I& *$ H.)4* B, >$%+ B& &,O*4+,[+$GF @&$[$ ' B, >$G4* B, >$%+N >.H=$%$1&@ >4 $)%+0$%+$ =%+>+)+,1FN . ,.4F )4%+%+ +01+ =%+G+,1FN $>+$01$ 1%+D4&+ +@$*4$1F )+ ,.@. I& +@+,14$* &,@+01&($1F 04=*&H+,1$% 4X9N0i@C *I/C@F&'' +@&*&'' W> G&/A?'A/ AC'>'AF B/+/G?/? +@GF vlew R 4 i /C*(* 1+%$=&$ $,1$*(&>F =.1%&@&1F =$>&+,14*4&N =.0&D&*&1F[&*.% 0$*+ H$1+%&$*+N &,1+*+>14$*+q [&,+ >.,1 )+ >.H=*&$,[F I& )+ $I1+=1F%&*+ 0$*+ X i K/C/>.*/QF 1+%$=&$ $01O+* B,>A1 .%&>+ &,1+%@+,[&+ $,1$*(&>F 0F O&+ >..%).,$1F >4 %+014* 1%$1$H+,14*4& 9 i A&*+* =$>&+,14* I& $=$%[&,F1.%&& 0F& 6@$*4$%+$ 4,+& )4%+%& ,.& &,>*4)+ B,1%+DF%& %+O+%&1.% *$ &,1+,0&1$1+$ )4%+%&& I& %+O+%&1.$%+ *$d ‚?N "?ƒ O$>1.%&& >$%+ . $H+*&.%+$GF ' &,1+,0&1$1+ QY'"YRq &,1+,0&1$1+$ )4%+%&& B, N i +'.A@?F >4 =$>&+,14* *$ O&+>$%+ H.H+,1+*+ >+*+ H$& %+*+ I& B, H.H+,1+*+ >+*+ $)%+0$%+ %+O+%&1.% *$ =%+G+,[$ )4%+%&& H$& D4,+ +@$*4$1+ >+* H$& O%+>@+,1 >4 $k41.%4* 0 i T< *Q'?/ 0F &H=*&>& =$>&+,14* I& 0>$*+*.% )4%+%&& $=$%[&,F1.%&& 0F& B, )+>&G&$ 1+%$=+41&>F ' *.>$*&G$%+ I& &%$)&+%+ ' >$%$>1+% QB,[+=F14%FN $%04%FN +1>R b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‚"?ƒ3 ' $I1+=1F%&*+ =$>&+,14*4& >4 =%&@&%+ *$ (%$)4* )+ $,$*(+G&+
"_Y
6@$*4$%+$ >.H=%+]+,0&@F &,>*4)+ ,4 ).$% B,1%+DF%& %+O+%&1.$%+ *$ )4%+%+$ ,.4 $=F%41FN >& I& &01.%&>4* .,>.*.(&> QB, 0=+>&$* 1+%$=&&*+ $,1&,+.=*$G&>+ 4%H$1+ I& 01$)&4* $>14$* $* D.*&&RN $,1+>+)+,1+*+ =+%0.,$*+ =$1.*.(&>+ ,.,'.,>.*.(&>+ Q"Y{ )&, 0&,)%.$H+*+ $*(&>+ *$ $>+I1& =$>&+,[& 04,1 )+1+%H&,$1+ )+ >.H.%D&)&1F[&RN &01.%&>4* =+%0.,$* I& 0.>&$*3 ;4%+%+$ +01+ =+%>+=41F H$& &,1+,0 B, >.,1+f14* B, >$%+ & 0+ $0.>&$GF O%&>$N $,f&+1$1+$N )+=%+0&$ 0$4 14*D4%F%&*+ )+ 0.H, ‚?bƒV H.1&@ =+,1%4 >$%+ $>+01+$ 1%+D4&+ +@$*4$1+ *$ %A,)4* *.% B, >$)%4* $=$%&[&+& 4,+& )4%+%& ,.&3 ;$1.%&1F =%+>.,>+=[&&*.% *+($1+ )+ >$,>+%N =$>&+,[&& .,>.*.(&>& $4 4, %&0> >%+0>41 )+ $ +f=+%&H+,1$ $>+01+ 1%F&%& >$%+ *+ $O+>1+$GF >$*&1$1+$ @&+[&& I& *+ B,%F41F[+0> )4%+%+$3 C, >.,0+>&,[FN 1%+D4&+ 0F *& 0+ .O+%+ .>$G&$ )+ $ BI& +f=%&H$ (A,)4%&*+N 1+H+%&*+ I& $I1+=1F%&*+ B, >$)%4* +@$*4F%&&q 04=.%14* =0&].*.(&> 0=+>&$*&G$1 1%+D4&+ .O+%&1 )+ %41&,F3 P=&%&14$*&1$1+$ =$>&+,14*4&N )+I& )&O&>&* )+ $D.%)$1 B, >$)%4* %+*$[&+& H+)&>'=$>&+,1N 1%+D4&+ *4$1FN )+ $0+H+,+$N B, >.,0&)+%$%+ ‚?ƒ3 6f&01F $,4H&1+ >$1+(.%&& )+ =$>&+,[& *$ >$%+ %&0>4* )+ 04D+@$*4$%+ $ )4%+%&& +01+ >%+0>41 ' @A%01,&>&&N >+& >4 )+O&>&1 >.(,&1&@N )+=+,)+,[&& )+ )%.(4%& I& =$>&+,[&& .,>.*.(&>& $O*$[& B, 01$)&&*+ 1+%H&,$*+ $*+ D.*&& ‚?ƒ ' =+,1%4 $>+I1&$ +01+ ,+>+0$%F . $D.%)$%+ H4*1&)&0>&=*&,$%F >+ &,>*4)+ 4, (+%&$1%4N 4, =0&].*.( 0$4 4, =0&]&$1%43 b3S3 :,01%4H+,1+ 41&*&G$1+ B, +@$*4$%+$ )4%+%&& / >4$,1&O&>$%+ $ )4%+%&& +01+ >+* H$& O%+>@+,1 )&O&>&*F )$1.%&1F 4,+& &H=.%1$,1+ >.H=.,+,1+ 04D&+>1&@+ &,+%+,1+ $>+014& 0&H=1.H3 ;4%+%+$ +01+ 1.*+%$1F )&O+%&1 )+ O&+>$%+ =$>&+,1 I& ,4 +f&01F 4, &,01%4H+,1 >*&,&> .D&+>1&@ >$=$D&* 0F . HF0.$%+q H$& H4*1N &,1+,0&1$1+$ $>+01+&$ )+=&,)+ ,4 ).$% )+ +1&.*.(&+N >& I& )+ $*[& O$>1.%& ' $O+>1&@&N 0.>&$*& 0$4 .>4=$[&.,$*&3 C, >.,0+>&,[FN $4 O.01 )+G@.*1$1+ ,4H+%.$0+ 0>$*+ $*+ )4%+%&& ' 0>$*$ $,$*.( @&G4$*FN 0>$*$ ,4H+%&>F 0$4 >]+01&.,$%+ >+ &,>*4) $1A1 0>$*+ >A1 I& B,1%+DF%& >+ +@$*4+$GF $*1+ $0=+>1+ $*+ +f=+%&+,[+& )4%+%.$0+ =+% $,0$HD*43 b3S3"3 :,01%4H+,1+ 4,&)&H+,0&.,$*+ ‚ZN ?Zƒ P>$*$ 4,&)&H+,0&.,$*F +01+ O.$%1+ 41&*F =+,1%4 $ )+1+%H&,$ +O+>14* 4,+& 1+%$=&& H+)&>$H+,1.$0+ 0$4 &,1+%@+,[&.,$*+ $04=%$ &,1+,0&1F[&& )4%+%&& =$>&+,14*4&3 P4,1 H$& H4*1+ 1&=4%& B,1A*,&1+ B, =%$>1&>$ >*&,&>FN >+*+ H$& 41&*&G$1+ O&&,) 0>$*$ ,4H+%&>F I& 0>$*$ @&G4$* $,$*.(F3 P>$*$ ,4H+%&>F +01+ . 0>$*F )+ *$ " *$ "Y %+=%+G+,1$1F (%$O&> 04D O.%H$ 4,+& *&,&& >4 "Y )&@&G&4,& >4 $k41.%4* >F%+&$ =$>&+,14* +01+ %4($1 0F &,)&>+ &,1+,0&1$1+$ )4%+%&&3 601+ O.$%1+ 4I.% )+ 41&*&G$1 I& +01+ %$=&)F3 ;+G$@$,1$k4* >.,01F B, )&O&>4*1$1+$ &)+,1&O&>F%&& H.)&O&>F%&*.% 04D1&*+ $ &,1+,0&1F[&& )4%+%.$0+3 P>$*$ @&G4$* $,$*.(F +01+ 0&H&*$%F >+*+& ,4H+%&>+N B,0F ,4 +01+ BH=F%[&1F B, 04D)&@&G&4,&3 8@$,1$k4* $>+01+& 0>$*+ +01+ >F 0=+>1%4* )4%+%.0 0+ =.$1+ 0&14$ .%&4,)+ B,1%+ oOF%F )4%+%+o ' 4,4* )&, >$=+1+ I& o)4%+%+ )+.0+D&1 )+ 0+@+%Fo ' >+*F*$*1 >$=F1N +@&1A,) >$1+(.%&G$%+$ )4%+%&& B, 4I.$%FN H.)+%$1F 0$4 0+@+%Fq $>+01 $0=+>1 =+%H&1+ H.,&1.%&G$%+$ 4,.% H.)&O&>F%& 04D1&*+N )$1.%&1F =.0&D&*&1F[&& =*$0F%&&)4%+%&& &,1+,0&1F[&& .%&4,)+ B,1%+4,+& Y I& "YY HH3 #$& H4*1N +f&01F +>]&@$*+,[+ Q=*$0$%+$ *$ ZY )4%+%.$0+ HH +01+ +>]&@$*+,14* )4%+%& )+ &,1+,0&1$1+ Zr"Y =+ 0>$*$ ,4H+%&>FR3 ;+G$@$,1$k4* $>+01+& 0>$*+ +01+ >FN )$1.%&1F 04D&+>1&@&1F[&& I& @$%&$D&*&1F[&&N >.H=$%$[&&*+ &,1+%=+%0.,$*+ 04,1 )&O&>&* )+ +O+>14$1 I& &,1+%=%+1$1N H.1&@ =+,1%4 >$%+ ,4H+%.I& >+%>+1F1.%& =%+O+%F 0>$*$ ,4H+%&>F3
"_"
b3S3?3 :,01%4H+,1+ H4*1&)&H+,0&.,$*+ ‚ZN ?_N ?aƒ P>$*+*+ H4*1&)&H+,0&.,$*+ $4 $=F%41 )$1.%&1F ,+>+0&1F[&& &,1+(%F%&& $*1.% O$>1.%& >$%+ &,O*4+,[+$GF )4%+%+$ B, +@$*4$%+$ $>+01+&$3 2+*+ H$& 41&*&G$1+ &,01%4H+,1+ H4*1&)&H+,0&.,$*+ )+ +@$*4$%+ $ )4%+%&& 04,1 #>L&** 9$&, †4+01&.,,$&%+ I& `%&+O 9$&, :,@+,1.%}3 #>L&** 9$&, †4+01&.,,$&%+ >.,[&,+ . 0>$*F @&G4$* $,$*.(FN . 0>$*F >$%+ =+%H&1+ +@$*4$%+$ &,1+,0&1F[&& )4%+%&& B, H.H+,14* %+$*&GF%&& >]+01&.,$%4*4& Q>4 Z 04D>$1+(.%&& ' )+ *$ Y OF%F )4%+%+ *$ Z )4%+%+ &H=.0&D&* )+ 1.*+%$1RN =%+>4H I& . *&01F )+ )+0>%&=1.%& @+%D$*& $& )4%+%&& Qo>4 >$%$>1+% )+ >%$H=FoN o$0>4[&1FoN o=4*0$1&*FoR B, )%+=14* >F%.%$ =$>&+,14* 0=+>&O&>F >A1 )+ &,1+,0F +01+ )4%+%+$ >4 $>+* >$%$>1+%3 `%&+O 9$&, :,@+,1.%} >.,[&,+ . )&$(%$HF >.%=.%$*F =+,1%4 *.>$*&G$%+$ )4%+%&&N . 0>$*F $ &,1+,0&1F[&& )4%+%&&N +@$*4$%+$ O4,>[&.,$*FN =%+>4H I& B,1%+DF%& %+O+%&1.$%+ *$ +O&>&+,[$ H+)&>$[&+& $,1$*(&>+ =%+G+,1+3 b3S3S3 2*$0&O&>$%+$ >*&,&>F $ &,1+,0&1F[&& )4%+%&& ;&, =4,>1 )+ @+)+%+ >*&,&>N &,1+,0&1$1+$ )4%+%&& +01+ >4$,1&O&>$1F B, =$1%4 >$1+(.%&& >$%+ @.% (]&)$ 1+%$=&$ $,1$*(&>F ‚"ƒ^ ' OF%F )4%+%+ QY =+ 0>$*$ g8PR ' )4%+%+ 4I.$%F Q"'S =+ 0>$*$ g8PR ' 04=F%F1.$%+ )+%$,k$,1FN >$%+ B,0F ,4 &,1+%O+%F 0+H,&O&>$1&@ >4 $>1&@&1F[&*+ >.1&)&+,+ ' )4%+%+ H.)+%$1F Qb'_ =+ 0>$*$ g8PR ' )4%+%+ &H=.%1$,1F >+ &,1+%O+%F >4 $>1&@&1F[&*+ >.1&)&+,+ ' )4%+%+ 0+@+%F Qa'"Y =+ 0>$*$ g8PR ' )4%+%+ )&G$D&*&1$,1FN >$%+ BH=&+)&>F +O+>14$%+$ $>1&@&1F[&*.% >.1&)&+,+ n# <&'>A'G'' +* H/>/(*H*>? /C +@&*&'' C/ G/A'*>S'' )>A)C)('A' <&'>A'G'' (*>*&/C* +* H/>/(H*>? /C +@&*&'' C/ G/A'*>S'' )>A)C)( 'A' vxV llV lyw^ ' 04=%$@&+[4&%+$ =$>&+,[&*.% .,>.*.(&>& )+=&,)+ )+ >.,1%.*4* 0&H=1.H+*.%q H$,$(+H+,14* >.%+>1 $* )4%+%&& >.,1%&D4&+ *$ BHD4,F1F[&%+$ 0+H,&O&>$1&@F $ >$*&1F[&& @&+[&& ' =$>&+,14* 1%+D4&+ &,O.%H$1 %+O+%&1.% *$ =.0&D&*&1$1+$ $=$%&[&+& )4%+%&&N $1A1 B, 1&H=4* 1%$1$H+,14*4&N >A1 I& )4=FN I& 1%+D4&+ >.,04*1$1 B, >$)%4* =%.>+04*4& )+>&G&.,$* %+O+%&1.% *$ 1+%$=&$ $,1$*(&>F .=1&HF ' 1+%$=&$ $,$*(+G&>F 1%+D4&+ %+$*&G$1F B, $>+*$I& 1&H= >4 H$,$(+H+,14* >+*.%*$*1+ 0&H=1.H+ I& B, $>+*$I& 1&H= >4 1+%$=&$ $,1&,+.=*$G&>F ' =.$1+ O& ,+>+0$%F . &,1+%@+,[&+ H4*1&)&0>&=*&,$%F =+,1%4 $ .D[&,+ 4, >.,1%.* .=1&H $* )4%+%&& ' +01+ ,+>+0$% 4, 04=.%1 +H.[&.,$* I& =0&].*.(&> $)+>@$1 ' =$>&+,[&& 1%+D4&+ +)4>$[& =+,1%4 $ BI& )+G@.*1$ $D&*&1F[&*+ )+ o>.=&,(o ' =$>&+,[&*.% I& O$H&*&&*.% $>+01.%$ 1%+D4&+ 0F *& 0+ =4,F *$ )&0=.G&[&+ H&k*.$>+ )+ &,O.%H$%+ $)+>@$1+ ' H$,$(+H+,14* )4%+%&& ,1 1%+D4&+ &,&[&$1 N1<: B,>]+&+%+$ 1+%$=&+& $,1&,+.=*$G&>+N >& H4*1 H$& )+@%+H+N . )$1F >4 =%&H$ $>4GF )+ 1&= $*(&> Q)+ H4*1+ .%& =%+G+,1F >]&$% *$ )&$(,.01&>Rq )&, H.H+,14* )&$(,.01&>4*4& I& =A,F *$ 0OA%I&14* @&+[&&N +01+ ,+>+0$% 0F $k401FH H+)&>$[&$ $,1$*(&>F $ =$>&+,14*4& .,>.*.(&> )+.$%+>+ $=$% O%+>@+,1 )4%+%& ,.& )$1.%$1+ 1%$1$H+,14*4& 0$4 =%.(%+0&+& D.*&& ‚?ƒ3
"_?
9%&H4* =$0 B, H$,$(+H+,14* 0&,)%.$H+*.% )4%+%.$0+ )&, >$,>+% +01+ )+ $ &)+,1&O&>$N =%&, H+1.)+ >*&,&>+ I& &H$(&01&>+N >$4G$ >+$ H$& =%.D$D&*F $ )4%+%&& I& )+ $ B,>+%>$ B,*F14%$%+$ $>+01+&$3 2]&$% B,$&,1+ B,0F )+ $ %+$*&G$ 1+%$=&$ +1&.*.(&>FN +01+ +0+,[&$* 0F &,&[&+H 1%$1$H+,14* $,1$*(&> *$ =$>&+,[&& .,>.*.(&>& B,>F )+ *$ =%&H+*+ $>4G+3 <, 014)&4 %+>+,1 $ $%F1$1 >F 4, H$,$(+H+,1 +O&>&+,1 $* )4%+%&& B, =+%&.$)$ 1%$1$H+,14*4& $>1&@ )4>+ *$ . &,>&)+,[F H$& H&>F $ 0&,)%.$H+*.% )4%+%.$0+ >%.,&>+ *$ 04=%$@&+[4&1.%&& )+ >$,>+% ‚?Xƒ3 741$ =%+O+%$1F )+ $)H&,&01%$%+N )$>F +01+ =.0&D&*N +01+ >+$ .%$*Fq >4 1.$1+ $>+01+$N >F& $*1+%,$1&@+ )+ $)H&,&01%$%+ 1%+D4&+ 41&*&G$1+ *$ =$>&+,[&&d >4 @F%0F14%& 0+@+%+N .>*4G&+ &,1+01&,$*FN )&0O$(&+ &H=.%1$,1F 0$4 >.,O4G&+ *$ >$%+ )4%+%+$ $%+ . &,1+,0&1$1+ H$%+ >+ ,+>+0&1F . +0>$*$)$%+ %$=&)F $ ).G+& *$ >$%+ +f&01F +O+>1+ 0+>4,)$%+ &H=.%1$,1+ >.,0+>41&@ $)H&,&01%F%&& .%$*+ )+ .=&.&G& 601+ O.$%1+ &H=.%1$,1 >$ $1A1 H+)&>4*N >A1 I& =$>&+,14* 0F >4,.$0>F I& 0F %+0=+>1+ O$=14* >F H+)&>$[&$ $,1$*(&>F *$ =$>&+,[&& .,>.*.(&>& 0+ $)H&,&01%+$GF Z, T709420 o7V ;4 4<23c76457P 490;04z7 320N &,)&O+%+,1 )+ &,1+,0&1$1+$ )4%+%&& =%+'$)H&,&01%$%+ =+,1%4 $ =%+@+,& $=$%&[&$ )4%+%&&q $,$*(+G&>+*+ 1%+D4&+ $)H&,&01%$1+ %+(4*$1N I& ,1 ;4 ,0P370# • • •
Z3"3 #$,$(+H+,14* )4%+%&& *$ =$>&+,[&& .,>.*.(&>& ‚??N ?\ƒ Z3"3"3 ;4%+%+ )+ &,1+,0&1$1+ 4I.$%F Q™ b =+ 0>$*$ g8PR P+ &,&[&$GF 1+%$=&+ $,1$*(&>F ,.,'.=&.&)F ' $>+1$H&,.O+, 0$4 $,1&&,O*$H$1.$%+ ,.,' 01+%.&)&+,+N =%+O+%$D&* =3.3 ;$>F %41$ .%$*F ,4 +01+ =.0&D&*F Q>$,>+%+ /7-N 0&,)%.H +H+1&> &H=.%1$,1RN 0+ =.1 $*+(+ %41+ $*1+%,$1&@+ Q&3@3N 03>3N &,1%$%+>1$*R3 8,1&'&,O*$H$1.%&&*+ ,.,' 01+%.&)&+,+ 1%+D4&+ 41&*&G$1+ >4 $1+,[&+ B, %+(&H >%.,&> *$ =.=4*$[&$ .,>.*.(&>FN )+.$%+>+ H4*[& )&, =$>&+,[& $4N )$1.%&1F D.*&& )+ D$GFN %&0> >%+0>41 )+ 1%.HD.>&1.=+,&+N 1.f&>&1$1+ ($01%.'&,1+01&,$*F 0$4 >$%)&$>F3 2l5 >.,>.H&1+,1F =.$1+ >%+I1+ &,>&)+,[$ $=$%&[&+& $>+01.% +O+>1+ 0+>4,)$%+3 ;.G+ &,&[&$*+d ' $>+1$H&,.O+, _ZY H( *$ b .%+ 0$4 " (%$H *$ _ .%+ Q).GF H$f&HF b (%$H+rG&R *$ $)4*[&& >4 O4,>[&+ ]+=$1&>F ,.%H$*Fq B, >$G4* 41&*&GF%&& >%.,&>+N +01+ =%+O+%$D&*F 01$D&*&%+$ 4,+& ).G+ H$f&H+ )+ S (%$H+rG& ' &D4=%.O+, bYY H( )+ b .%& =+ G& Q).GF H$f&HF S?YY H(R ' j+1.%.*$> Q41&*&G$%+ =+ 1+%H+, 0>4%1R ' "Z'SY H( &@ *$ _ .%+ Q)4%$1$ H$f&HF $ 1%$1$H+,14*4& ' Z G&*+R Z3"3?3 ;4%+%+ )+ &,1+,0&1$1+ H.)+%$1'0+@+%F Q b =+ 0>$*$ g8PR P8< )4%+%+ ,+>.,1%.*$1F )+ 1+%$=&$ $,1$*(&>F $,1+%&.$%F 5+%$=&$ )4%+%&& B, $>+01 >$G )&O+%F B, O4,>[&+ )+ +f=4,+%+$ $,1+%&.$%F *$ .=&.&)+ $ =$>&+,14*4&q =+,1%4 >+& >$%+ ,4 $4 H$& D+,+O&>&$1 )+ 1%$1H+,1 >4 H.%O&,F 0$4 )+%&@$[& $& $>+01+&$N ,4 +f&01F %&0>4* )+ 1.*+%$,[F I& )+>& ).G$ &,&[&$*F @$ O& H$& H&>F3 801O+*N =$>&+,[&& =.1 O&d ' .=&.&) ,$&@& ' =$>&+,[& >$%+ T< 04,1 04D 1%$1$H+,1 .=&.&) >%.,&> Q,4 $4 )+G@.*1$1 1.*+%$,[F 0+H,&O&>$1&@FRq 1%$1$H+,14* .=&.&) >%.,&> +01+ )+O&,&1 )+ >F1%+ J;8 >$ H&,&H _Y H( H.%O&,FrG& P8< SY H( .f&>.).,F =+ G& P8< \ H( ]&)%.H.%O.,F =+ G& Q=3.3R 0$4 ).G+ +>]&@$*+,1+ )+ 1%$1$H+,1 .=&.&) &,k+>1$D&*3
"_S
' .=&.&)'1.*+%$,[& ' 1%$1$H+,1 =3.3 >4 H&,&H _Y H( H.%O&,FrG& P8< SY H( .f&>.).,F =+ G& P8< \ H( ]&)%.H.%O.,F =+ G& 0$4 ).G+ +>]&@$*+,1+ )+ 1%$1$H+,1 .=&.&) &,k+>1$D&* 1&H= )+ H&,&H . 0F=1FHA,F3 Z3"3?3"3 #$,$(+H+,14* )4%+%&& H.)+%$1'0+@+%+ *$ =$>&+,[&& .=&.&)',$&@& C, O4,>[&+ )+ 0+@+%&1$1+N 0+ $*+(+ B,1%+ 1%$1$H+,1 =3.3 Q+O+>1 H$f&H B, $=%.f&H$1&@ _Y H&,41+R 0$4 &3@3 Q+O+>1 H$f&H B, $=%.f&H$1&@ "Z H&,41+Rd ' =3.3d Z'"Z H( 04*O$1 )+ H.%O&,F 0$4 +>]&@$*+,1 >4 )4%$1F 0>4%1F )+ $>[&4,+ ' &3@3d ?'Z H( 04*O$1 )+ H.%O&,F 0$4 +>]&@$*+,1 >4 )4%$1F 0>4%1F )+ $>[&4,+ ;4=F _Y H&,41+ Q=+,1%4 $)H&,&01%$%+ =3.3R 0$4 "Z H&,41+ Q=+,1%4 $)H&,&01%$%+$ &3@3RN 0+ @$ %++@$*4$ +O&>$>&1$1+$ 1+%$=&+& ' =$>&+,14* @$ O& %4($1 0F >.H=$%+ &,1+,0&1$1+$ )4%+%.$0F >4 >+$ $,1+%&.$%F &,&[&+%&& 1%$1$H+,14*4& >4 $k41.%4* 4,+& 0>$*+ $ )4%+%&&3 ;$>Fd 83 )4%+%+$ +01+ ,+0>]&HD$1F 0$4 $ >%+0>41 B, &,1+,0&1$1+ ' 0+ @$ $)H&,&01%$ . ,.4F ).GFN )+ $>+$01F )$1F >4 ZY{ 0$4 >]&$% "YY{ H$& H$%+ ' =3.3 aNZ'??NZ H( QZY{R 0$4 "Y'SY H( Q"YY{R ' &3@3 S'aNZ H( QZY{R 0$4 b'"Y H( Q"YY{R `3 )4%+%+$ $ 0>FG41 4I.% B, &,1+,0&1$1+ Qg8P b'_R ' 0+ @$ $)H&,&01%$ . ,.4F ).GFN &)+,1&>F >4 =%&H$ 23 )4%+%+ $ 0>FG41 0+H,&O&>$1&@ B, &,1+,0&1$1+ Qg8P Y'SR ' %++@$*4$%+ =+%&.)&>F I& $)H&,&01%$%+$ 4,+& ,.& ).G+ *$ ,+@.&+ Z3"3?3?3 #$,$(+H+,14* )4%+%&& H.)+%$1'0+@+%+ *$ =$>&+,[&& .=&.&)'1.*+%$,[& C, O4,>[&+ )+ 0+@+%&1$1+N 0+ $*+(+ B,1%+ 1%$1$H+,1 =3.3 Q+O+>1 H$f&H B, $=%.f&H$1&@ _Y H&,41+RN 03>3 Q+O+>1 H$f&H B, $=%.f&H$1&@ SY H&,41+R 0$4 &3@3 Q+O+>1 H$f&H B, $=%.f&H$1&@ "Z H&,41+Rq ).G$ &,&[&$*F @$ O& +>]&@$*+,14* $ "Y'?Y{ )&, ).G$ 1.1$*F )+ .=&.&G& $)H&,&01%$1F B, 4*1&H+*+ ?b )+ .%+q *$ $>+01 >$*>4* T< 0+ @$ &,>*4)+ I& ).G$ )+ O+,1$,}* $)H&,&01%$1 =%&, H4>.$0+3 ;4=F _Y H&,41+ Q=+,1%4 $)H&,&01%$%+ =3.3RN SY )+ H&,41+ Q=+,1%4 $)H&,&01%$%+$ 03>3R 0$4 "Z H&,41+ Q=+,1%4 $)H&,&01%$%+$ &3@3RN 0+ @$ %++@$*4$ +O&>$>&1$1+$ 1+%$=&+& ' =$>&+,14* @$ O& %4($1 0F >.H=$%+ &,1+,0&1$1+$ )4%+%.$0F >4 >+$ $,1+%&.$%F &,&[&+%&& 1%$1$H+,14*4& >4 $k41.%4* 4,+& 0>$*+ $ )4%+%&&3 ;$>Fd 83 )4%+%+$ +01+ ,+0>]&HD$1F 0$4 $ >%+0>41 B, &,1+,0&1$1+ ' 0+ @$ $)H&,&01%$ . ,.4F ).GFN )+ $>+$01F )$1F >4 ZY{ 0$4 >]&$% "YY{ H$& H$%+ `3 )4%+%+$ $ 0>FG41 4I.% B, &,1+,0&1$1+ Qg8P b'_R ' 0+ @$ $)H&,&01%$ . ,.4F ).GFN &)+,1&>F >4 =%&H$ 23 )4%+%+ $ 0>FG41 0+H,&O&>$1&@ B, &,1+,0&1$1+ Qg8P Y'SR ' %++@$*4$%+ =+%&.)&>F I& $)H&,&01%$%+$ 4,+& ,.& ).G+ *$ ,+@.&+ ;%4(&( 8( 219'"'8)*(243 /+ 2)("?'( &2 ,2/'("?'' /+ /%9%*$'1')3?' 1( )',+& '"8+='/'("?3 @(,2)'/3s*("2&3. ZOdL. 2,"(( 1( 8%9". %$8)*+/?'( 1( /3' *(8,'*2)%*'' 8+,(*'%2*( -' 8)2)+8 1( ,(*=%*92"?3 8/34+)i 2.,>.H&1+,1N *$ 53=7 =$>&+,[&& 0+ @$ &,&[&$ =%.O&*$f&$ +O+>1+*.% 0+>4,)$%+ $*+ 1+%$=&+& >4 .=&.&G&3 8>+01+ +O+>1+ 04,1 O%+>@+,1+N 1%+D4&+ $,1&>&=$1+ I& 1%$1$1+ $(%+0&@ =+,1%4 $ $0&(4%$ >.H=*&$,[$ =$>&+,[&*.%3 24 +f>+=[&$ >.,01&=$[&+&N 1.$1+ +O+>1+*+ 0+>4,)$%+ @.% )&H&,4$ )&, =4,>1 )+ @+)+%+ $* &,1+,0&1F[&& B, 1&H=3
"_b
;4=F .D[&,+%+$ >.,1%.*4*4& )4%+%&&N 0+ @$ B,>+%>$ Q)$>F + >$G4* I& )$>F +01+ =.0&D&*R >.,@+%1&%+$ 1+%$=&+& &3@3 B, 1+%$=&+ =3.3N D$G$1F =+ $)H&,&01%$%+$ $(+,[&*.% >4 )4%$1F *4,(F )+ $>[&4,+ B, ).GF O&fF I& )4=F 4, =%.(%$H O&f I& 0+ @$ 04=*&H+,1$ 1+%$=&$ >4 .=&.&G& >4 )4%$1F 0>4%1F )+ $>[&4,+ Qo%+0>4+ ).0+oR *$ ,+@.&+3 6f&01F ,.H.(%$H+ 0=+>&$*+ =+,1%4 >.,@+%1&%+$ )&O+%&[&*.% .=&.&G& )+ *$ &3@3 *$ =3.3 0$4 &,@+%03 ;+ +f+H=*4N H.%O&,$ 0+ >.,@+%1+I1+ >4 4, O$>1.% )+ S Q"Y H( H.%O&,F &3@3 04,1 +>]&@$*+,14* $ SY H( H.%O&,F =3.3R3 2.,@+%1&%+$ )+ *$ $(+,[& .=&.&G& >4 )4%$1F 0>4%1F )+ $>[&4,+ *$ .=&.&G& >4 )4%$1F *4,(F 0+ %+$*&G+$GF &,&[&$* $)H&,&01%A,) .=&.&) >4 )4%$1F *4,(F )+ $>[&4,+ *$ k4HF1$1+ )&, ).G$ )+ .=&.&) >4 )4%$1F 0>4%1F )+ $>[&4,+3 24 +f>+=[&$ H+1$).,+&N +01+ )+ =%+O+%$1 0F 0+ 41&*&G+G+ $>+*$I& >.H=40 =+,1%4 H$,$(+H+,14* )+ O.,) I& =+,1%4 04=*&H+,1$%+$ ).G+& Q+f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{ H$& =4[&, B, O&+>$%+ G& 0$4 >]&$% H$& *+,1 )$>F $=$% 0&H=1.H+ $41.,.H+ )+ 1&=4* $,f&+1$1+N 1$]&>$%)&+N 1%$,0=&%$[&&3 ;$>F $>+01+ 0&H=1.H+ 04,1 (%+4 )+ 1.*+%$1 =+,1%4 =$>&+,1N 0+ =.$1+ $)H&,&01%$ >*.,&)&,F YN"'YN? H(rG& =3.3 =+,1%4 $H+*&.%$%+ ‚?Zƒ3 Z3?3 #$,$(+H+,14* +O+>1+*.% 0+>4,)$%+ $*+ 1+%$=&+& >4 .=&.&G& ‚??N ?\ƒ Z3?3"3 2.,01&=$[&$ #+1.)+ =%.O&*$>1&>+d ' 1%$1$H+,1 *$f$1&@ G&*,&>N $ >F%4& ).GF >%+I1+ . )$1F >4 >%+I1+%+$ ).G+& )+ .=&.&G& ' $=.%1 *&>]&)&$, >.%+0=4,GF1.% ' %+(&H )&+1+1&> >4 >.,>+,1%$[&+ >%+0>41F )+ O&D%+ ' +f+%>&[&4 O&G&> H.)+%$1N )$>F +01+ =.0&D&* C, >$G4* B, >$%+ >.,01&=$[&$ $=$%+ 04D 1%$1$H+,1 =%.O&*$>1&>d ' +@$*4$[& >$4G$ I& 0+@+%&1$1+$ >.,01&=$[&+&N +f>*4)+[& )&$(,.01&>4* )+ .D01%4>[&+ &,1+01&,$*F ' $)F4($[& $,$*(+G&>+ )+ $*1F >*$0F B, 0>]+H$ 1+%$=+41&>F B, @+)+%+$ %+)4>+%&& ).G+& )+ .=&.&) ' $)F4($[& *$>14*.GF SY'_Y H* G&*,&> I&r0$4 H+1.>*.=%$H&) "Y'"Z H( =3.3 )+ b frG& ' *4$[& B, >.,0&)+%$%+ +O+>14$%+$ 4,.% >*&0H+ ' )$>F >.,01&=$[&$ =+%0&01F 04D 1%$1$H+,1 H$f&H$*N *4$[& B, >.,0&)+%$%+ 0>]&HD$%+$ .=&.&)4*4& Z3?3?3 6H+G$ ' +f>*4)+[& $*1+ =.0&D&*+ +1&.*.(&& $*+ +H+G+& ' 2l5N 756N ]&=+%>$*>+H&+N $*1+ =$1.*.(&& $*+ PT2 ' 1%$1$H+,1 >4 H+1.>*.=%$H&) "Y'"Z H( =3.3 )+ b .%& =+ G& P8< ]$*.=+%&).* YNZ'" H( =3.3 *$ _'\ .%+ Q$1+,[&+ *$ +O+>1+*+ 0+>4,)$%+ *$ ,&@+*4* PT2 >+ =.1 $=F%+$ B, >.,1+f14* $)H&,&01%F%&& >%.,&>+ *$ ,+@.&+$ H+1.>*.=%$H&)4*4&r]$*.=+%&).*4*4&R =A,F *$ $H+*&.%$%+$ 0&H=1.H$1.*.(&+&N 4*1+%&.% ' )$>F 0&,)%.H4* +H+1&> =+%0&01FN 0+ =.$1+ $)F4($ 4, $,1$(.,&01 0+%.1.,&,+%(&> Q(%$,&0+1%.,N ? H(rG&R ' –– =.1 $>>+,14$ >.,01&=$[&$–– ' 0+ =.$1+ $)H&,&01%$ )+f$H+1$G.,F ' )$>F 0&,)%.H4* +H+1&> =+%0&01F H$& H4*1 )+ . 0F=1FHA,F )+ *$ &,&[&+%+$ 1+%$=&+& >4 .=&.&G&N 0+ =.$1+ +@$*4$ .=.%14,&1$1+$ 0>]&HDF%&& .=&.&)4*4&
"_Z
Z3?3S3 9%4%&14* ' +f>*4)+[& $*1+ =.0&D&*+ +1&.*.(&& $*+ =%4%&14*4& QH+)&>$[&+ >.,>.H&1+,1FN ]&=+%D&*&%4D&,+H&+R ' +f>*4)+[& =.0&D&*&1$1+$ 4,+& %+$>[&& $*+%(&>+ *$ .=&.&)4* $)H&,&01%$1 ' &,&[&$[& 1+%$=&+ >4 $,1&]&01$&H&,&>+ Q)+ +f+H=*4N )&O+,]&)%$H&,F ?Z'ZY H] &3@3 0$4 =3.3 *$ _ .%+ 0$4 =%.H+1$G&,F "?NZ'?Z H( =3.3 *$ _ .%+ ;$>F =%4%&14* =+%0&01Fd ' 0+ =.$1+ $)F4($ *$ %+(&H4* $,$*(+G&> . ).GF H&>F )+ .=&.&) H&f1 Q$(.,&01'$,1$(.,&01R ' =%4%&1 0+@+%N %+O%$>1$% *$ 1%$1$H+,1 ' ,$*.f.,F YN?Z H&>%.(%$H+rj(r] 1&1%$D&*& =A,F *$ ).G$ )+ " H&>%.(%$Hrj(r.%F Q$01O+* B,>A1 0F ,4 &,O*4+,[+G+ +O+>14* $,$*(+G&> $* .=&.&)4*4&R Z3?3b3 ;+*&%4* ' +f>*4)+[& $*1+ =.0&D&*+ +1&.*.(&& $*+ )+*&%4*4& Q]&=+%>$*>+H&+ r #5P >+%+D%$*+R ' 0>]&HD$[& .=&.&)4* 0$4 $0.>&$[& $,$*(+G&+ ,.,'.=&.&)F =+,1%4 $ 0>F)+$ ).G$ )+ .=&.&) ,+>+0$%F ' 1%$1$H+,1 >4 ]$*.=+%&).* YNZ'? H( =3.3 0$4 &3@3 *$ b'_ .%+ Z3?3Z3 ;+=%+0&$ %+0=&%$1.%&+ ' 04,1 040>+=1&D&*& B, 0=+>&$* =$>&+,[&& >4 %+G+%@F =4*H.,$%F %+)40F ' $)H&,&01%$%+ )+ ,$*.f., ' )&G.*@$[& . O&.*F )+ ,$*.f., QYNb H(r"H*R B, X H* 0+% O&G&.*.(&>N .D[&,A,) 4, @.*4H 1.1$* )+ "Y H*q )&, $>+I1& "Y H*N $)H&,&01%$[& "'? H* *$ O&+>$%+ SY'_Y 0+>4,)+ =A,F *$ $H+*&.%$%+$ 0&H=1.H$1.*.(&+& ' )$>F =$>&+,14* T< %+$>[&.,+$GF )4=F "Y H&,41+ B, >$%+ 0'$4 $)H&,&01%$1 >+& "Y H*N 0+ @$ *4$ B, >.,0&)+%$%+ . $*1F +1&.*.(&+ =+,1%4 )+=%+0&$ %+0=&%$1.%&+ Z3?3_3 P+)$%+$ ' +f>*4)+[& $*1+ =.0&D&*+ +1&.*.(&& $*+ 0+)F%&& Q]&=+%>$*>+H&+N $*1+ =$1.*.(&& $*+ PT2N 0+=0&0N ]&=.f&+N )+0]&)%$1$%+R ' *4$[& B, >.,0&)+%$%+ 0>F)+%+$ ).G+& )+ .=&.&)r0>]&HD$%+$ .=&.&)4*4&r$0.>&+%+$ )+ $,$*(+G&>+ ,.,'.=&.&)+ ' &,&[&$[& 1+%$=&+ >4 =0&].01&H4*$,1+ Q)+ +f+H=*4 H+1&*O+,&)$1 Z'"Y H( )+ "'S .%& =+ G&RN >4 ).G+ H$& H&>& 0+$%$ =+,1%4 $ +@&1$ &,0.H,&$ Z3S3 8,$*(+G&>+ $)k4@$,1+ Q>.'$,$*(+G&>+R ‚ZN ?YN ??N ?\ƒ P4,1 $>+*+ H+)&>$H+,1+ $ >F%.% &,)&>$[&+ =%&H$%F ,4 +01+ )+ 1%$1$H+,1 $* )4%+%&&N )$% >$%+ $4 +O+>1 $,1$*(&> B, $,4H&1+ >.,)&[&&r>&%>4H01$,[+3 L]&)4%&*+ T< &,)&>F >+ >.'$,$*(+G&> +01+ 0=+>&O&> &,)&>$1 =+,1%4 1&=4%& )&O+%&1+ )+ )4%+%+N $01O+* B,>A1 $*+(+%+$ $>+014&$ )+=&,)+ )+ 1.*+%$,[$ &,)&@&)4$*FN )+ =%+O+%&,[+*+ =$>&+,14*4& I& )+ +f=+%&+,[$ >*&,&>F $ H+)&>4*4& =%+0>%&=1.%3 C, .,>.*.(&+N >+*+ H$& 41&*&G$1+ $,$*(+G&>+ $)k4@$,1+ 04,1 ‚ZN ?\ƒd ' $,1&)+=%+0&@+ ' $,1&)+=%+0&@+ 1%&>&>*&>+N &,]&D&1.%& )+ %+>$=1$%+ $& 0+%.1.,&,+& ' B, 0=+>&$* B, )4%+%+$ ,+4%.=$1F $0.>&$1F >4 0&,)%.H )+=%+0&@q >+* H$& O%+>@+,1 ' )4*.f+1&,$N $H&1%&=1&*&,$ ',+4%.=$1Fq $,1&>.,@4*0&@$,1+ ' ($D$=+,1&,N ' 41&*&G$1+ 0=+>&$* B,1%$1$[& )4%+%+$ 4,&& $41.%& %$=.%1+$GF=%+($D$*&,N . %+)4>+%+>$%D$H$G+=&,$ $ )4%+%&& *$ =$>&+,[&& >4B,H4>.G&1F >4 ($D$=+,1&, ‚SYƒ3 ' >.%1&>.01+%.&G& ' 41&*& =+,1%4 )4%+%+$ ,+4%.=$1FN )4%+%+$ &,O*$H$1.%&+N H+1$01$G+*+ >+%+D%$*+ I& .D01%4>[&$ &,1+01&,$*F )+ +1&.*.(&+ H$*&(,Fq +O+>14* *.% $,$*(+G&> 0+ )$1.%+$GF $>[&4,&& $,1&+)+H$1.$0+ I& $,1&&,O*$H$1.%&&
"__
' $(+,[& 1.=&>& Q=$1>]'4* >4 *&).>$&,Fr)&>*.O+,$>R ' B, 0=+>&$* =+,1%4 ,+4%.=$1&$ =.01']+%=+1&>F I& )4%+%+$ *.>$*&G$1F *$ =$>&+,[&& .,>.*.(&>& ' D+,G.)&$G+=&,+*+ ' +O+>1 H&.%+*$f$,1N B, 0=+>&$* 41&*+ *$ =$>&+,[&& O.$%1+ $,f&.I& I&r0$4 >+ $>4GF 14*D4%F%& )+ 0.H, 8,$*(+G&>+*+ $)k4@$,1+ 04,1 %+>.H$,)$1+ B, H$,$(+H+,14* )4%+%&& .$0.$0+N )4%+%&& ,+4%.=$1+N )4%+%&& @&0>+%$*+ I& B, >$G4%&*+ 0+*+>1$1+N =+,1%4 $ %+)4>+ ).G$ )+ .=&.&G& ,+>+0$%F =+,1%4 >.,1%.*4* )4%+%&&3 Z3b3 7.*4* 2l5 =$*&$1&@+ B, 1%$1$H+,14* )4%+%&& ‚ZN ?\ƒ 2l5 k.$>F 4, %.* &H=.%1$,1 B, 1%$1$H+,14* )4%+%&& *$ H$k.%&1$1+$ =$>&+,[&*.% ,.4 )&$(,.01&>$[& >4 >$,>+%N )$>F 14H.%$ =%+G&,1F 4, (%$) )+ >]&H&.0+,0&D&*&1$1+3 7F0=4,04* 1+%$=+41&> Q)&H&,4$%+$ )&H+,0&4,&*.% 14H.%$*+ =A,F *$ )&0=$%&[&+R 0+ $0.>&$GF >4 $H+*&.%$%+$ 0&H=1.H+*.% &,)40+ )+ >$,>+% I& B, $,4H&1+ >$G4%&N 2l5 =.$1+ O& 04O&>&+,1F =+,1%4 1%$1$%+$ )4%+%&&3 -$ =$>&+,[&& >4 >$,>+% $@$,0$1rH+1$01$1&>N $)H&,&01%$%+$ 2l5 B, 0>.= $,1$*(&> +01+ %+>.H$,)$1F ).$% )$>F 14H.%$ H$& =%+G&,1F 0+,0&D&*&1$1+ *$ $(+,14* $,1&,+.=*$G&>3 <, $(+,1 >]&H&.1+%$=&> >$%+ ,4 $%+ +O+>1 $04=%$ >%+I1+%&& 14H.%$*+ ,4 @$ $H+*&.%$ )4%+%+$ ' )+ +f+H=*4N 4, =$>&+,1 >4 ,+.=*$0H D%.,].'=4*H.,$% >$%+ $ =%.(%+0$1 04D 1+%$=&+ >4 0F%4%& )+ =*$1&,F ,4 @$ .D[&,+N =%.D$D&*N >.,1%.*4* )4%+%&& =%&, >.,1&,4$%+$ $)H&,&01%F%&& $>+01.% $(+,[&3 8)H&,&01%$%+$ =$*&$1&@F $ 2l5 1%+D4&+ %+$*&G$1F )+ H+)&>4* .,>.*.(N B, O4,>[&+ )+ 1%$1$H+,1+*+ $,1+%&.$%+ I& )+ 1.*+%$,[$ &,)&@&)4$*F $ =$>&+,14*4&3 Z3Z3 #&k*.$>+ ,.,'O$%H$>.*.(&>+d >]&%4%(&$N 756N H+1.)+ &,1+%@+,[&.,$*+N 1+%$=&& >.H=*+H+,1$%+ Z3Z3"3 2]&%4%(&$ -$ $,4H&[& =$>&+,[&N >]&%4%(&$ =.$1+ .O+%& . BHD4,F1F[&%+ 0+H,&O&>$1&@F $ >$*&1F[&& @&+[&& I& =.$1+ %+)4>+ 0+H,&O&>$1&@ )4%+%+$N >]&$% )$>F &,1+%@+,[&$ 0+ %+$*&G+$GF B, %+(&H =$*&$1&@N 14H.%$ O&&,) *F0$1F =+ *.> ‚Zƒ3 601+ B, 0=+>&$* 41&*F =+,1%4 .D01%4>[&&N =+%O.%$[&&N O&014*+ 0$4 1+,+0H+N =%+>4H I& =+,1%4 &,0+%$%+$ 01+,14%&*.% B, @+)+%+$ $H+*&.%F%&& 0&H=1.H+*.% )+1+%H&,$1+ )+ .D01%4>[&& D&*&$%+N =$,>%+$1&>+N )4.)+,$*+N ($01%&>+ 0$4 >.*.,&>+3 /D01%4>[&$ &,1+01&,$*F H$*&(,FN =%+G+,1F B, $=%.f&H$1&@ S{ )&, ,+.=*$G&&*+ )&, 01$)&4* $@$,0$1 ‚S"ƒN =.$1+ O& )+1+%H&,$1F O&+ )+ .>*4G&$ &,1+01&,$*FN O&+ )+ . =+%&01$*1&>F $,.%H$*Fq +01+ O%+>@+,1 . >.,0+>&,[F $ >$%>&,.H$1.G+& =+%&1.,+$*+N )+I& =.$1+ O& B,1A*,&1F I& )$1.%&1F 0&,)%.H4*4& $)+%+,[&$* =.01'.=+%$1.%N 2l5 &,1%$=+%&1.,+$*+ 0$4 =.01'756 ‚S?ƒ3 601+ . 4%(+,[F 1+%$=+41&>F >+ D+,+O&>&$GF B, (+,+%$* )+ H$,$(+H+,1 >]&%4%(&>$* ' =%&, %+G+>[&+ &,1+01&,$*F 0+(H+,1$%F 0$4 =%&, D}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b )+ .%+ )+ *$ )+D414* 0&H=1.H$1.*.(&+&N &,)&O+%+,1 )+ 01$D&*&1$1+$ >.*.$,+& @+%1+D%$*+ ‚?Zƒ3 :,1+%@+,[&$ >]&%4%(&>$*F 0+ %+>.H$,)F B, 0=+>&$* )$>F 0&,)%.H4* )+ >.H=%+0&4,+ H+)4*$%F 0+ $0.>&$GF >4 &,01$D&*&1$1+ *$ ,&@+*4* >.*.$,+& ‚SSƒN &$% =+,1%4 =$>&+,[&& >4 4, =%.(,.01&> D4,N 0&H=1.H$1&>&N >]&%4%(&$ 4%H$1F )+ 756 )+1+%H&,F .
"_a
>%+I1+%+ )+ b .%& $ =+%&.$)+& B, >$%+ =$>&+,14* 0+ =.$1+ )+=*$0$ >.H=$%$1&@ >4 756 0&,(4%FN >4 4, >.,1%.* H$& D4, $* )4%+%&& I& . >.,1&,+,[F 0O&,>1+%&$,F 04=+%&.$%F3 Z3Z3?3 7$)&.1+%$=&$ 9.$1+ O& 41*&G$1F $1A1 *$ ,&@+*4* 14H.%&& =%&H$%+ B, 0>.= >4%$1&@ 0$4 =$*&$1&@N >A1 I& *$ ,&@+*4* H+1$01$G+*.%3 601+ )+.0+D&1 )+ 41&*F )$1.%&1F +O+>14*4& 0F4 )+ )&H&,4$%+ $ )&H+,0&4,&*.% 14H.%$*+N >++$ >+ )4>+ *$ )&H&,4$%+$ =%+0&4,&& *$ ,&@+*4* .04*4&r.%($,+*.% ‚Sbƒ3 :,)&>$[&& ‚Zƒd ' *+G&4,& H+1$01$1&>+ .0.$0+ )4%+%.$0+ ' )4%+%+ 1.%$>&>F I& )&0=,++ )+1+%H&,$1F )+ >$,>+%4* D%.,].'=4*H.,$% ' *+G&4,& H$*&(,+ >41$,$1+ ' >+O$*++ >.,0+>41&@ H+1$01$G+*.% >+%+D%$*+ ' >.,1%.*4* 0A,(+%F%&*.% *$ ,&@+*4* 14H.%&& ' 0&,)%.H4* )+ >.H=%+0&4,+ H+)4*$%F ' >.,0&)+%$1 1%$1$H+,14* 01$,)$%) B, 0&,)%.H4* )+ >.H=%+0&4,+ H+)4*$%F )+1+%H&,$1 )+ H&+*.H4* H4*1&=*4 ‚SZƒ I& +01+ 41&*F B, 0=+>&$* =+,1%4 14H.%& %$)&.0+,0&D&*+ Q,+.=*$0H H$H$%N ,+.=*$0H )+ =%.01$1FN *&HO.HN ,+4%.D*$01.HR ‚?Zƒ3 N7(*)'42?' ,2/'("?'' 1( ,%8'$'&')2)(2 Q=&2*(Q:+&+' ,%8):TJY : 5"*3+)3?'*(2 1+*(*'' 5" ,*'9(&( b:v 4'&( 1+,3 '"'?'(*(2 TJY D]g:__w 1'" ,2/'("?'Ex 9(/2"'89+& 1( 2,2*'?'( (8)( 12) 1( *3,+"8+& '"=&292)%* '"'?'2& 2& %*A2"'89+&+' 1+,3 (<,+"(*(2 &2 TJYC U2"2A(9(")+& 2")2&A'/ 8( *(2&'4(243 ,*'" %,'%'4'. NP>I 82+ /%*)'/%)(*,'( Z3Z3S3 #+1.)+ &,1+%@+,[&.,$*+ ' D*.>4%& ,+%@.$0+ ' $,+01+G&+ $)H&,&01%$1F *.>$*N O%+>@+,1 >.,>.H&1+,1 >4 . &,1+%@+,[&+ >]&%4%(&>$*F =+,1%4 $ $0&(4%$ $,$*(+G&$ &,1%$'.=+%$1.%&+ Q)4%$1$ +O+>14*4& $=%.f&H$1&@ ?b .%+R ' &,0+%$%+$ 4,.% >$1+1+%+ =+%&O+%&>+ =+,1%4 $,$*(+G&$ =.01'.=+%$1.%&+ =%&, >$%+ H+)&>$H+,1+*+ 0+ $)H&,&01%+$GF >+* H$& O%+>@+,1 >.,1&,44 Q41&*&G$1+ B, H.H+,14* B, >$%+ 0+ =%+04=4,+ >F )4%+%+$ @$ $@+$ . &,1+,0&1$1+ >%+0>41F =.01'.=+%$1.%R ' o=$1&+,1'>.,1%.**+) &3@3 $,$*(+0&$o ' $)H&,&01%$%+ >.,1&,4F )+ .=&.&G& =%&, &,1+%H+)&4* 4,+& =.H=+ ' 41&*F B, 0=+>&$* =+,1%4 =$>&+,[&& ,+.=*$G&>& >4 D.$*F $@$,0$1Fq =%&, &,1+%H+)&4* 4,4& D41., =$>&+,14* BI& =.$1+ $)H&,&01%$ 0&,(4% . ,.4F ).GF )+ $,$*(+G&> )$>F +01+ ,+>+0$% ' >$1+1+%+*+ +=&)4%$*+ =+,1%4 $)H&,&01%$%+$ &,1%$1+>$*F $ .=&.&G&*.% ' =$>&+,[& >4 0&,)%.$H+ )4%+%.$0+ O.$%1+ %+G&01+,1+ *$ 1+%$=&+ 0$4 >$%+ =%+G&,1F +O+>1+ 0+>4,)$%+ &,1.*+%$D&*+ *$ $)H&,&01%$%+$ .=&.&G&*.% =+ $*1F %41F ' ,+4%.*&G$ ' $)H&,&01%$%+$ 4,+& &,k+>[&& >4 $*>..* 0$4 O+,.* =+,1%4 $ )&01%4(+ >$*+$ ,+%@.$0F )+ 1%$,0H&1+%+ $ )4%+%&&3 -$ =$>&+,[&& .,>.*.(&>&N >$G4%& 0+*+>1$1+ =.1 D+,+O&>&$ )+ $>+01+ =%.>+)4%& ,+4%.>]&%4%(&>$*+ )&01%4>1&@+ )+.$%+>+ )4%$1$ +01&H$1F )+ @&$[F +01+ *&H&1$1F I& )+>& %&0>4* )+ $=$%&[&+ $* )4%+%&& 0+>4,)$%+ )+,+%@F%&& +01+ H$& H&>3 Z3Z3b3 5+%$=&& >.H=*+H+,1$%+ C, 4*1&H&& $,&N 1+%$=&&*+ >.H=*+H+,1$%+ $4 O.01 )&, >+ B, >+ H$& O%+>@+,1 +@$*4$1+ =+,1%4 $ .O+%& . H.)$*&1$1+ ,.,'O$%H$>.*.(&>F )+ H$,$(+H+,1 =+ 1+%H+, *4,( $* )4%+%&&3 L]&)4* $H+%&>$, )+ H$,$(+H+,1 $* )4%+%&& &,)&>F O$=14* >F ,&>& 4,$ $>+01+ 1+%$=&& >.H=*+H+,1$%+ ,4 I&'$ )+O&,&1 %.*4* B,.,>.*.(&>+ 1%$1$H+,14* $,1$*(&> *$ =$>&+,[&& >4 )&, ,+.=*$G&+3 24 1.$1+ $>+01+$N +f&01F %+@&+~'4%& >$%+ &,)&>F 4, D+,+O&>&4 $* 1+%$=&&*.% >.H=*+H+,1$%+ +O&>&+,1+ B, $H+*&.%$%+$ )4%+%&&N >+*+ H$& 014)&$1+ O&&,)d ' $>4=4,>14%$ ‚S_ƒ ' &,1+%@+,[&&*+ =0&].0.>&$*+ ‚Saƒ ' %+O*+f.1+%$=&+ ‚S\ƒ
"_\
' H+)&>&,$ 1%$)&[&.,$*F >]&,+GF ‚SXƒ ' H+*.1+%$=&+ ‚bYƒ f# 5'G@&' G/&?'A@C/&* +* +@&*&* W> )>A)C)('* _3"3 ;4%+%+$ ,+4%.=$1F _3"3"3 ;+O&,&[&+d T+4%.=$1&$ %+=%+G&,1F . B,1%+%4=+%+ )&%+>1F 0$4 &,)&%+>1F $ 1%$,0H&1+%&& ,+%@.$0+ >+ )4>+ *$ . $*1+%$%+ $ O4,>[&.,$*&1F[&& ,+%@4*4&3 2.H=$%$1&@ >4 =.=4*$[&$ ,.%H$*FN =$>&+,[&& .,>.*.(&>& $4 . &,>&)+,[F H$& H$%+ $ )4%+%&& ,+4%.=$1+N $1A1 )&, >$4G$ D.*&& )+ D$GFN >A1 I& )&, >$4G$ 1+%$=&+& $,1&,+.=*$G&>+ ' B, 0=+>&$* $,4H&[& $(+,[& >]&H&.1+%$=&>&3 #+>$,&0H4* +01+ H&f1N O&&,) &H=*&>$1F $1A1 *+G$%+$ )&%+>1F =%&, $>4H4*$%+$ )+ 2l5 ,+4%.1.f&>+ Q)+%&@$[&& )+ =*$1&,FRN >A1 I& *+G$%+$ >.,0+>41&@ &,O*$H$[&+& 0$4 =%&, H+>$,&0H &H4, ‚b"ƒ3 _3"3?3 61&.*.(&+ ‚Zƒd ' &,@$G&+ 14H.%$*F )&%+>1F $ ,+%@&*.%r=*+f4%&*.% ,+%@.$0+ ' $(+,[&& 2l5 ' >+* H$& O%+>@+,1 1$f$,&N )+%&@$[& )+ =*$1&,FN $*>$*.&G& )+ @&,j$ I& &,]&D&1.%& =%.1+.G.H&>& ' =.01'.=+%$1.% I& =.01'756 ' =$1.*.(&& ,.,'.,>.*.(&>+ O$@.%&G$1+ )+ >$,>+%r1%$1$H+,14* $>+014&$d ,+@%$*(&$ =.01' ]+%=+1&>F _3"3S3 P+H,+ I& 0&H=1.H+d 9$>&+,[&& )+0>%&4 =$%+01+G&& Q$H.%E+*&N O4%,&>F14%&RN $*.)&,&+ H+>$,&>F 0$4 *$ %+>+ I& 0+,G$E&+ =+%0&01+,1F )+ $%04%F )4%+%.$0F ‚b?ƒ3 C, H$k.%&1$1+$ >$G4%&*.%N ,+4%.=$1&$ $O+>1+$GF 0+(H+,1+*+ )&01$*+ $*+ H+HD%+*.% 04=+%&.$%+ I& &,O+%&.$%+ I& )+D41+$GF D&*$1+%$* *$ ,&@+*4* )+(+1+*.% =&>&.$%+*.% ‚bSƒN )+.$%+>+ O&D%+*+ ,+%@.$0+ H$& *4,(& 04,1 $O+>1$1+ H$& )+@%+H+ ‚b"ƒ3 9.1 $=F%+$ $,.H$*&& 0+,G.%&$*+ Q=&+%)+%+$ 0+,0&D&*&1F[&& *$ ,&@+*4* +f1%+H&1F[&*.%N )4%+%+r]&=+%+01+G&+N $O+>1$%+$ =%.=%&.>+=[&+&R I&r0$4 $,.H$*&& H.1.%&& Q)&H&,4$%+$ O.%[+& H40>4*$%+N )&H&,4$%+$ %+O*+f+*.% .01+.1+,)&,.$0+N $O+>1$%+$ +>]&*&D%4*4&N =.G&[&+& I& >]&$% H+%04*4&N )4%+%& H40>4*$%+ ,+0=+>&O&>+N >%$H=+R3 _3"3b3 ;&$(,.01&>d ;&$(,.01&>4* =.G&1&@ +01+ )&O&>&*N )+.$%+>+ ,4 +f&01F 4, 01$,)$%) 4,&@+%0$* $>>+=1$13 8>+01$ 0+ %+$*&G+$GF B, O4,>[&+ )+ $,$H,+GF Q&01.%&> )+ 1%$1$H+,1 >4 $(+,[& 2l5 ,+4%.1.f&>&N &01.%&> )+ 756 0$4 &,O+>[&+ ]+%=+0R I& +@$*4$%+$ )4%+%&& >4 $k41.%4* 0>$*+*.% +f&01+,1+3 ;&$(,.01&>4* )&O+%+,[&$* 0+ O$>+ >4 )4%+%+$ ,.>&>+=1&@F I& +01+ >*&,&>3 _3"3Z3 5%$1$H+,1 ‚bbN bZƒd 9%&H$ *&,&+ 1+%$=+41&>F B, )4%+%+$ ,+4%.=$1F >.,01F B, 1%$1$H+,14* +1&.*.(&>3 ;$>F $>+01$ ,4 +01+ =.0&D&*N 0+ 41&*&G+$GF $,1&)+=%+0&@+ I& $,1&>.,@4*0&@$,1+3 P14)&&*+ %$=.%1+$GF 4, %F0=4,0 $* ,+4%.=$1&+& &,)40F )+ 2l5 *$ $)H&,&01%$%+$ )+ )4*.f+1&,F I& =%+($D$*&,r($D$=+,1&,3 5+%$=&$ 1%+D4&+ &,)&@&)4$*&G$1F I& +01+ =.0&D&* >$ =$>&+,14* 0F B,>+%>+ H$& H4*1+ 1%$1$H+,1+ =A,F *$ .D[&,+%+$ O.%H4*+& $,1$*(&>+ .=1&H+3 _3?3 #4>.G&1$ $>41F _3?3"3 ‚b_ƒd Q01.H$1&1FR #4>.G&1$ %+=%+G&,1F =%+G+,[$ *+G&4,&*.% &,O*$H$1.%&& 0$4 4*>+%$1&@+ *$ ,&@+*4*;+O&,&[&+ >$@&1F[&& .%$*+ 0$4 1%$>14*4& ($01%.'&,1+01&,$*3 _3?3?3 61&.*.(&+ ‚b_ƒd ' 2l5 B, ).G+ H$%&N B, 0=+>&$* >+$ $)H&,&01%$1F B,$&,1+$ 1%$,0=*$,14*4& )+ HF)4@F Q]+H$1.*.(&+R ' 2l5 =+,1%4 ,+.=*$G&& 0.*&)+ ' B, 0=+>&$* ).f.%4D&>&,FN Z'O*4.%.'4%$>&* I& H+1.1%+f$1 ' 1+%$=&&& D&.*.(&>+ ' 04,&1&,&DN 0.%$O+,&D
"_X
' 756 B, %+(&4,+$ /7_3?3S3 P+H,+ I& 0&H=1.H+d ;+=&,) )+ H4>.$0$ &H=*&>$1Fq =+,1%4 01.H$1&1F Q>+$ H$& O%+>@+,1F *.>$*&G$%+RN =$>&+,[&& $>4GFN B, (+,+%$* &H+)&$1 )4=F &,&[&+%+$ 1%$1$H+,14*4&N )4%+%+ *$ ,&@+*4* >$@&1F[&& D4>$*+N 4,+.%& ,+B,0.[&1F )+ 0+H,+ >*&,&>+3 #4>.$0$ D4>$*F 0$4 =$*$14* 04,1 &,&[&$* +%&1+H$1.$0+ I& )+1+%H&,F . 0+,G$[&+ )+ $%04%Fq 4*1+%&.%N $=$% $%&& $*D&>&.$0+N 04=%$)+,&@+*$1+N )+0>4$H$1&@+N )4%+%.$0+ 0=.,1$, I& *$ $1&,(+%+3 C, +@.*4[&+N $>+01+$ 4*>+%+$GF I& O.%H+$GF =0+4).H+HD%$,+ >$%+ 4*1+%&.% @.% >.,O*4$ I& @.% )+1+%H&, &,$D&*&1$1+$ =$>&+,14*4& )+ $ 0+ $*&H+,1$ 0$4 )+ $ D+$3 _3?3b3 ;&$(,.01&>4* =.G&1&@ +01+ >*&,&>3 ;&$(,.01&>4* )&O+%+,[&$* 0+ @$ O$>+ )$>F 0+ 040=&>&.,+$GF 04=%$&,O+>[&$ =+,1%4 $ +*4>&)$ +1&.*.(&$ $(+,14*4& &,O+>[&.03 _3?3Z3 5%$1$H+,1d 5%$1$H+,14* T< +01+ +1&.*.(&>N >& ).$% 0&H=1.H$1&> Q>4 +f>+=[&$ 04=%$&,O+>[&&*.% D$>1+%&+,+ 0$4 O4,(&>+R ' .=[&4,&*+ 1+%$=+41&>+ &,>*4) $,$*(+G&>+ *.>$*+ I&r0$4 $)H&,&01%$%+$ 0&01+H&>F )+ .=&.&G&N $0.>&$1+ 4,+& &(&+,+ %&(4%.$0+ $ H4>.$0+& $O+>1$1+3 #4>.G&1$ +01+ 4, O+,.H+, $41.'*&H&1$,1N &$% *+G&4,&*+ [email protected]*+$GF 0=.,1$, 0=%+ @&,)+>$%+q )&0=$%&[&$ *.% 0+ B,%+(&01%+$GF >+* H$& O%+>@+,1 *$ "Y'"b G&*+ )4=F B,>]+&+%+$ 2l5 ‚baƒ3 _3S3 ;4%+%+$ *$,>&,$,1F _3S3"3 ;+O&,&[&+d $>41&G$%+ 1%$,G&1.%&+ $ )4%+%&& >$%+ 04%@&,+ 0=.,1$, 0$4 )+>*$,I$1 )+ 01&H4*& =+ O.,)4* 4,+& )4%+%& >%.,&>+ %+*$1&@ D&,+ >.,1%.*$1+ )+ 1+%$=&$ $,1$*(&>FN )+ &,1+,0&1$1+ H.)+%$1'0+@+%FN >4 )+D41 %$=&) QH&,41+R I& )4%$1F %+*$1&@ 0>4%1F Q$=%.f&H$1&@ SY )+ H&,41+R3 8 ,4 0+ >.,O4,)$ >4 )4%+%+$ >+ 0+ &,01$4%+$GF B,$&,1+ )+ $)H&,&01%$%+$ 4,+& ,.& ).G+ )&, 1+%$=&$ $,1$*(&>F I& ,&>& >4 )4%+%+$ >+ =+%0&01F B, =+%&.$)$ 1&1%F%&& .=&.&G&*.% ' $>+01+ )4%+%& $=$% B, >.,1+f14* 4,4& >.,1%.* &,04O&>&+,1 $* )4%+%&& >%.,&>+N )+ O.,) ‚b\ƒ3 _3S3?3 61&.*.(&+d 9.$1+ $=F%+$ *$ .%&>+ =$>&+,1 .,>.*.(&> >4 )4%+%+ >%.,&>FN =41A,) $@+$ >$%$>1+%&01&>& ,.>&>+=1&@+ 0$4 ,+4%.=$1+3 601+ +@&)+,[&$1F =%+G+,[$ $ ).4F 1&=4%& )+ D%+$j1]%.4(] =$&,d )4%+%+$ &,>&)+,1$*F Q)+1+%H&,$1F )+ H&I>$%+N 140+N B,(]&[&%+N )+O+>$[&+N +1>R I& )4%+%+$ 0=.,1$,F Q)4%+%+ *$ >$%+ ,4 =.1 O& &)+,1&O&>$[& O$>1.%&& )+>*$,I$1.%&R3 _3S3S3 P+H,+ I& 0&H=1.H+d 9$>&+,[&& %$=.%1+$GF $=$%&[&$ 4,+& )4%+%& )+ &,1+,0&1$1+ %$=&) >%+0>F1.$%+ >$%+ )4%+$GF H$f&H >A1+@$ G+>& )+ H&,41+N *.>$*&G$1F $=%.f&H$1&@ B, $>++$I& %+(&4,+ >4 *.>$*&G$%+$ )4%+%&& )+ O.,)3 9.1 04%@+,& H$& H4*1+ +=&0.$)+ =+ G& ‚bXƒ3 _3S3b3 ;&$(,.01&>4* =.$1+ O& =40 >*&,&> I& $,$H,+01&> )4=F B,*F14%$%+$ 040=&>&4,&& )+ >.,1%.* &,04O&>&+,1 $* )4%+%&& )+ O.,) >4 1+%$=&$ $,1$*(&>F >4%+,1F3 _3S3Z3 5%$1$H+,1d T4 +f&01F 1%$1$H+,1 01$,)$%)3 #+1.)+*+ O$%H$>.*.(&>+ &,>*4) %+$k401$%+$ 0>]+H+& >%.,&>+ Q$>++$I& ).GF >$ $,1+%&.% $=$%&[&+& )4%+%&&N )$% B, H$& H4*1+ =%&G+R I&r0$4 &,1%.)4>+%+$ 4,+& $I$',4H&1+ o%+0>4+ ).0+o Q).GF )+ 0$*@$%+R )+ .=&.&) >4 )4%$1F 0>4%1F )+ $>[&4,+ ‚b\ƒ3 _3b3 P&,)%.H4* )+ >.H=%+0&4,+ H+)4*$%F H$*&(,F _3b3"3 ;+O&,&[&+d P&,)%.H $*(&> >+ $=$%+ >.,0+>41&@ =%&H$%+ 0$48>+01+ H+1$01$G+*.% >+ )+1+%H&,F =%+0&4,+ 0$4 >.H=%+0&+ *$ ,&@+*4* >.*.$,+&14H.%&& @+%1+D%$*+ ‚ZN ?\ƒ3 O+,.H+,+ =.1 $=F%+$ >.,0+>41&@ +f1+,0&+& =.01+%&.$%+ $ 4,+& H$0+ @+%1+D%$*+N +f1+,0&+& $,1+%&.$%+ $ 4,+& H$0+ )+ *$ ,&@+*4* +*+H+,1+*.% ).%0$*+ 0$4 =%&, >%+I1+%+$ 4,+& H$0+ >+ &,@$)+$GF ($4%$ @+%1+D%$*F ‚ZYƒ3 Y8)( % +*A("?3 9(1'/2&3 /( 72 1()(*9'"2 ,2*2,&(A'( 82+ /+21*2,&(A'( &2 ]ggw 1'" ,2/'("?' 12/3 "+ (8)( )*2)2)3i
"aY
N 8( 1'=(*("?'2 1( 8'"1*%9+& 2&A'/ *(4+&)2) /%"8(/+)'7 +"(' =*2/)+*' 7(*)($*2&( =3*3 /%9,*(8'+"(i O(8)( agw 1'" ,2/'("?' ,*(<'")3 9()28)24( %8%28( 9+&)',&(i !" a:caw 1'" /24+*'. 8'"1*%9+& 1( /%9,*(8'+"( 9(1+&2*3 2,2*( &2 ,2/'("?' /+ /2"/(* "(1'2A"%8)'/2) ,0"3 &2 9%9(")+& ,*(4(")3*''iii ta]u _3b3?3 61&.*.(&+d >$,>+%4* H$H$% Q"Z'?Y{RN >$,>+%4* )+ =%.01$1F Q"Z'?Y{RN >$,>+%4* D%.,].' =4*H.,$% ,.,'H&>%.>+*4*$% Q"Z'?Y{ ' ‚SZƒRN H&+*.H4* H4*1&=*4 ‚ZYƒ QZ'"Y{RN *&HO.H ,.,' l.)(j&, QZ'"Y{RN >$,>+% %+,$* QZ'"Y{R ‚Z?ƒ# _3b3S3 P+H,+ I& 0&H=1.H+d g$%&$GF B, O4,>[&+ )+ *.>$*&G$%+ I& &,1+%@$*4* )+ 1&H= )+ *$ )+D413 P+ =.$1+ =%+G+,1$ >$ . )4%+%+ ,.4 $=F%41F *$ ,&@+*4* >.*.$,+& QXY{ )&, =$>&+,[&R ‚ZYƒN >$%+ 0+ B,%F41F[+I1+ B, 1&H= I& >$%+ B, (+,+%$* =%+>+)+ 0&H=1.H+*+ ,+4%.*.(&>+ >4 >A1+@$ 0F=1FHA,& 0$4 *4,&q )4%+%+$ =.$1+ O& =%+G+,1F I& *$ ,&@+*4* I.*)4*4& Q>.H=%+0&$ 1.%$>&>FRN 04D0>$=4*$% Q>.H=%+0&$ >+%@&>$*FR 0$4 1.%$>&> Q>.H=%+0&+ *.HD$%FR3 C, 1&H=N 0+ $0.>&$GF I&d )+O&>&1 0+,G&1&@N 0*FD&>&4,+ H.1.%&+N )&0O4,>[&& $41.,.H+N %+1+,[&+ 4%&,$%Fr&,>.,1&,+,[FN 0>F)+%+$ 0+,0&D&*&1F[&& *$ ,&@+*4* O+0+*.%N 1%+&H&& 04=+%&.$%+ =.01+%&.$%+ $ >.$=0+*.% I& %+(&4,&& =+%&,+$*+ ‚ZSƒ3 #$k.%&1$1+$ =$>&+,[&*.% =%+G&,1F )4%+%+ *$ =+%>4[&+ *$ ,&@+*4* G.,+& $O+>1$1+N $0.>&$1+ >4 ]&=+%%+O*+f&+N 0=$01&>&1$1+N =&+%)+%+$ 0+,0&D&*&1F[&& @&D%$1.%&& I& 1+%H&>+ 0$4 $D0+,[$r)&H&,4$%+$ %+O*+f+*.% .01+.'1+,)&,.$0+3 ;4%+%+$ )+ 0=$1+ =.$1+ O& B,%F41F[&1F )+ H$,+@%$ g$*0$*@$3 P+H,+*+ 1$%)&@+ &,>*4) 0*FD&>&4,+ H40>4*$%FN =.G&1&@$%+$ 0+H,4*4& `$D&,0j& I& 0>F)+%+$ 1.,404*4& 0O&,>1+%4*4& $,$* ‚SSƒ3 _3b3b3 ;&$(,.01&>d ;&$(,.01&>4* =%+>.>+ +01+ 0!0,=74; )+.$%+>+ 1%$1$H+,14* =%+>.>+ +01+ $0.>&$1 >4 4, =%.(,.01&> O4,>[&.,$* H4*1 H$& D4, Q01$1404* ,+4%.*.(&> $* =$>&+,14*4& B,$&,1+ )+ &,&[&+%+$ 1+%$=&+& +01+ >+* H$& &H=.%1$,1 &,)&>$1.% $* %+>4=+%F%&& 4*1+%&.$%+R3 ;&$(,.01&>4* T< =.$1+ O& =40 >*&,&> ' .%&>+ =$>&+,1 .,>.*.(&> >4 )4%+%+ )+ 0=$1+ ,.4 $=F%41F 1%+D4&+ +@$*4$1 &H$(&01&>3 P1$,)$%)4* 7#T Q0+,0&D&*&1$1+ XS{ I& 0=+>&O&>&1$1+ Xa{R ‚Zbƒq )$>F +f&01F >.,1%$&,)&>$[&& 0$4 4, +f$H+, 7#T ,4 +01+ )&0=.,&D&*N 0+ =.$1+ 41&*&G$ . H&+*.(%$O&+ >4 $k41.%4* 1.H.(%$O4*4& ‚ZZƒq +f$H+,4* %$)&.*.(&> >.,@+,[&.,$* T< =.$1+ +f>*4)+ 4, 0&,)%.H )+ >.H=%+0&+ H+)4*$%F3 _3b3Z3 5%$1$H+,1d ;+=&,)+ B, =%&H4* %A,) )+ +@&/?/ *.?'H/?F +* .@G&/I'*S@'&* ' =$>&+,[&& >4 4, =%.(,.01&> O.$%1+ %+G+%@$1 Q>A1+@$ 0F=1FHA,&R @.% D+,+O&>&$ B, (+,+%$* )+ 1%$1$H+,1 H+)&>$H+,1.0 Q>.%1&>.1+%$=&+R I&r0$4 )+ . 0&,(4%F I+)&,[F )+ %$)&.1+%$=&+N )+.$%+>+ +O+>1+*+ 0+>4,)$%+ $0.>&$1+ 4,4& 1%$1$H+,1 H$& $(%+0&@ )+=FI+0> +O+>1+*+ D+,+O&>+3 C, >++$ >+ =%&@+I1+ =$>&+,[&& >4 =%.(,.01&> D4,N >]&%4%(&$ )+>.H=%+0&@F I&r0$4 %$)&.1+%$=&$ Q)&@+%0+ 0>]+H+ 1+%$=+41&>+ O%$>[&.,$1+ B, (+,+%$* =+ =$%>4%04* $ >A1+@$ 0F=1FHA,&R 04,1 01$,)$%)4* 1+%$=+41&>3 2]&H&.1+%$=&$ =.$1+ O& *4$1F B, >.,0&)+%$%+ =+,1%4 14H.%& >]&H&.0+,0&D&*+ B, >.HD&,$[&+ >4 %$)&.1+%$=&$ I&r0$4 >]&%4%(&$3 9.$1+ O& =%&H$ *&,&+ )+ 1%$1$H+,1 B, 0&,)%.$H+ )+ >.H=%+0&4,+ H+)4*$%F )+1+%H&,$1+ )+ *&HO.HN 14H.%& (+%H&,$*+N ,+.=*$0H )+ =%.01$1FN ,+.=*$0H H$H$% ‚?ZƒN >$%+ ,4 04,1 $0.>&$1+ >4 &,01$D&*&1$1+ @+%1+D%$*F3 2.%1&>.01+%.&G&& . >.H=.,+,1F +0+,[&$*F $ H$,$(+H+,14*4& &,&[&$*N )+I& +f&01F >.,1%.@+%0+ %+O+%&1.$%+04,1 *$ ).G$ .=1&HF3 2+* H$& O%+>@+,1N 0+ $)H&,&01%+$GF )+f$H+1$G.,F &3@3 D.*40 "Y'"_ H(N 4%H$1+ )+ b'_ H( . )$1F *$ b .%+q ).G+*+ 04,1 )&H&,4$1+ B, H.H+,14* &,&[&+%&& %$)&.1+%$=&+&3 ‚SS3 Z?N Z_ƒ3 -$ =$>&+,[&& >4 )+O&>&1 ,+4%.*.(&> 0+@+%N 0+ =.1 $)H&,&01%$ ).G+ H$& H$%& )+ =A,F *$ X_ H( )+f$H+1$G.,F &3@3N 4%H$1+ )+ ?b H( )+ b .%& =+ G& 1&H= )+ 1%+& G&*+N >$%+ $=.& 0+ @$ 0>F)+$ *+,1 =+ =$%>4%04* 4%HF1.$%+*.% "Y G&*+ ‚Z_ƒ3
"a"
5%$1$H+,14* B, 4%(+,[F ' )+f$H+1$G.,F &3@3 D.*40 "Y'"_ H(N 4%H$1+ )+ b'_ H( . )$1F *$ b .%+ v >.,04*1 756 I& >.,04*1 >]&%4%(&>$*3 x# N@&*&*/ C/ .@G&/I'*S@'?)&'' +* A/>A*& 2$*&1$1+$ @&+[&& )4=F )&$(,.01&>4* )+ >$,>+% )+=&,)+ )+ ,4H+%.I& O$>1.%&N 4,4* )&,1%+ >+& H$& &H=.%1$,[& O&&,) (%$)4* )+ )&G$D&*&1$1+ =.01'1%$1$H+,1N >$%+ &,O*4+,[+$GF O4,>[&.,$*&1$1+$ O.I1&*.% =$>&+,[& $1A1 B, H+)&4* =%.O+0&.,$* >A1 I& B, H+)&4* 0.>&$* ‚?Xƒ3 8>+$01$ )+=&,)+ *$ %A,)4* 0F4 )+ 0&H=1.H$1.*.(&+N B, 0=+>&$* )+ >+$ )4%+%.$0FN >$%+ . )$1F >4 >%+I1+%+$ B, &,1+,0&1$1+ 0>$)+ =+%O.%H$,[$ 04=%$@&+[4&1.%&*.% =+ 0>$*$ •$%,.@0j ;4%+%+$ *$ 04=%$@&+[4&1.%&& )+ >$,>+% +01+ +01&H$1F $ O& =%+G+,1F *$ $=%.f&H$1&@ SS{ )&, 04=%$@&+[4&1.%&& )+ >$,>+% ‚Zaƒ3 8=$%&[&$ +& )+=&,)+ )+ 1&=4* )+ >$,>+%N )+ >.H.%D&)&1F[& I& )+ H$,$(+H+,14* &,&[&$* $* )4%+%&& ‚Z\ƒ3 P&,)%.H4* )4%+%.0 *$ 04=%$@&+[4&1.%&& )+ >$,>+% +01+ O.$%1+ )&O&>&* )+ 1%$1$1 )+.$%+>+ B, (+,+%$* =+ =$%>4%04* 1%$1$H+,14*4& $,1&,+.=*$G&> 04,1 &H=*&>$1+ H$& H4*1+ $D.%)F%& 1+%$=+41&>+ Q>]&H&.1+%$=&+N %$)&.1+%$=&+N >]&%4%(&+R ' O&+>$%+ )&, $>+01+$ >4 =.1+,[&$*4* )+ $ &,)4>+ 4, 0&,)%.H $*(&> >%.,&> J$>1.%& )+ %&0> ‚ZXƒd ' >]&H&.1+%$=&$ Q>%.,&>&G$%+$ ,+4%.=$1&+& &,)40+ )+ >]&H&.1+%$=&+R ' %$)&.1+%$=&$ Q$O+>1$%+$ =*+f4*4& D%$]&$* =.01'%$)&.1+%$=&+N )4%+%+$ =+*@&,F >%.,&>FR ' >]&%4%(&$ Q=.01'H$01+>1.H&+N *+G$%+$ ,+%@&*.% &,1+%>.01$*& =.01'1.%$>.1.H&+R <&'>A'G/C*C* .'>+&)/H* +@&*&)/.* W>?pC>'?* C/ .@G&/I'*S@'?)&'' +* A/>A*&^ a3"3 T+4%.=$1&$ =+%&O+%&>F )4%+%.$0F >%.,&>F &,)40F )+ >]&H&.1+%$=&+ :,>&)+,[$ 0$ +01+ B, >%+I1+%+ B, >.,1+f14* >%+I1+%&& ,4HF%4*4& $(+,[&*.% 2l5 ,+4%.1.f&>& I& 04=%$@&+[4&%&& =.01'2l53 9.$1+ $=F%+$ &,>*40@ =+ =$%>4%04* 1%$1$H+,14*4& >4 $(+,[& $,1&,+.=*$G&>&N )$% I& )4=F QO+,.H+, )+,4H&1 oA)/.?'>(oRq $=$%+ B, 0=+>&$* *$ =$>&+,[&& 1%$1$[& >4 1$f$,&r0F%4%& )+ =*$1&,Fr$*>$*.&G& )+ @&,j$ 0$4 &,]&D&1.%& =%.1+.G.H&>&3 5%$1$H+,14* &,>*4)+ $(+,[& $,1&)+=%+0&@&r$,1&>.,@4*0&@$,[& ' )4*.f+1&,$N ($D$=+,1&,N =%+($D$*&,N =%+>4H I& . 0+%&+ )+ H&k.$>+ ,.,'O$%H$>.*.(&>+ $*1+%,$1&@+3 a3?3 P&,)%.$H+ )4%+%.$0+ >%.,&>+ &,)40+ )+ 756 2+* H$& O%+>@+,1 04,1 %$=.%1$1+ =*+f.=$1&&*+N B, 0=+>&$* >+*+ D%$]&$*+ I& >+*+ *.HD.' 0$>%$1+N >$%+ =.1 O& B,1A*,&1+ *$ ?'Z{ )&, =$>&+,[& =.01'756 ‚_Yƒ3 8O+>1$%+$ =*+f4*4& D%$]&$* $=$%+ >+* H$& O%+>@+,1 *$ =$>&+,[&& >4 ,+.=*$0H H$H$%N D%.,].'=4*H.,$%N *&HO.HN *$ ?'b $,& =.01 756N >4 @$%&$[&& >&1$1+ B, *&1+%$14%F B,1%+ _ *4,&'SY $,& =.01'756 ‚_"ƒ3 <, 014)&4 &,)&>F >F ba{ )&, O+H+&*+ >4 2# I& 756 $4 )+G@.*1$1 0&,)%.H $*(&> D%$]&$* =.01'1%$1$H+,1 ‚_?ƒ QH$& O%+>@+,1 O+H+&*+ 1&,+%+ I& >$%+ D+,+O&>&$0+%F I& )+ 2l5R3 8O+>1$%+$ =*+f4*4& *.HD$% +01+ H$& =4[&, O%+>@+,1F3 ;&$(,.01&>4* )&O+%+,[&$* O$>+ >4$,$*(+G&>+ 040=&>&4,+$ %+>&)&@$ 14H.%$*FN O&&,) 014)&& &H$(&01&>+3 5+%$=&$ &,>*4)+0+.=&.&)+N 0$4)+ 0&H=$1+>1.H&+ >]&H&>F ‚_Sƒ3,+>+0$%+ a3S3 8%1%$*(&&*+ 0+>4,)$%+ 1+%$=&+& ].%H.,$*+ 5+%$=&$ ].%H.,$*F +01+ +0+,[&$*F B, H$,$(+H+,14* >$,>+%+*.% ].%H.,.'0+,0&D&*+ Q0A,N =%.01$1FN >$,>+%+ (&,+>.*.(&>+R3 / >*$0F O%+>@+,1 41&*&G$1F B, >$,>+%4* H$H$% >4 %+>+=1.%& ].%H.,$*& =.G&1&@& 04,1 &,]&D&1.%&& )+ $%.H$1$GF Q$,$01%.G.*N *+1%.G.*N +f+H+01$,RN >$%+ I&'$4
"a?
)+H.,01%$1 04=+%&.%&1$1+$ )&, =4,>1 )+ @+)+%+ $* +O&>&+,[+& $,1&,+.=*$G&>+ B, >.H=$%$[&+ >4 (+,+%$[&& $,1+%&.$%+ )+ ].%H.,.1+%$=&&3 :, >.,1+f14* B, >$%+ >$,>+%4* H$H$% +01+ $0.>&$1 >4 . 04=%$@&+[4&%+ )+ *4,(F )4%$1FN 0&,)%.H4* )4%+%.0 )+1+%H&,$1 )+ $>+$01F >*$0F )+ H+)&>$H+,1+ $%+ 4, &H=$>1 =.1+,[&$* &H=.%1$,1N &$% &,>&)+,[$ $%1%$*(&&*.% *$ =$>&+,[&& 04D 1%$1$H+,1 >4 &,]&D&1.%& )+ $%.H$1$GF $ >%+0>41 ‚_bƒ3 <, 014)&4 =+ O+H+& =.01'H+,.=$4G$*+ 04D 1%$1$H+,1 )+ =+01+ S *4,& >4 &,]&D&1.%& )+ $%.H$1$GF $ %$=.%1$1 >F ba{ )&, $>+01+$ $@+$4 )4%+%& $%1&>4*$%+ I& bb{ )&O&>4*1F[& )+ H.D&*&G$%+ ‚_Zƒ3 -.>$*&GF%&*+ >+*+ H$& O%+>@+,1+ 04,1 (+,4,>]&&N =&>&.$%+*+N >+,14%$ =+*@&,FN 0=$1+*+N $%1&>4*$[&&*+ H&>& $*+ HA&,&*.% I& D%$[+*+ ‚__ƒ3 :H=.%1$,[$ $>+014& +O+>1 0+>4,)$% +01+ )$1F I& )+ O$=14* >F 1+%$=&$ >4 8: +01+ . 1+%$=&+ =+ 1+%H+, *4,(N &$% $%1%$*(&&*+N *$ O+* >$ .%&>+ $*1 +O+>1 0+>4,)$% 04=F%F1.%N )+1+%H&,F 0>F)+%+$ $)+%+,[+& *$ 1%$1$H+,1 *$ $=%.f&H$1&@ ?Y' SY{ )&, O+H+&3 84 O.01 =%.=40+ H$& H4*1+ H+>$,&0H+ )+ $=$%&[&+ $ $%1%$*(&&*.% 0+>4,)$%+ 8:N >+*+ H$& &H=.%1$,1+ O&&,)d +O+>14* )+ 0>F)+%+ $* ,&@+*4*4& )+ +01%.(+,& >&%>4*$,[&N >$%+ =$%+ $ 0>F)+$ =%$(4* ,.>&>+=1&@ ‚_aƒ3 +O+>14* $04=%$ *&($,)4*4& 78T• ' )+=*+[&$ +01%.(+,&>F >%+I1+ =%.)4>[&$ I& $>1&@&1$1+$ *&($,)4*4& 78T•N $0=+>1 >+ >%+I1+ .01+.>*$01.(+,+G$ I&N >.,0+>41&@N %+0.%D[&$ .0.$0F ‚_\ƒ3 /=[&4,&*+ 1+%$=+41&>+ &,>*4) H&k*.$>+ O$%H$>.*.(&>+ ‚_Zƒd $>+1$H&,.O+,N 8:TPN (*4>.0$H&,$r>.,)%.&1&,N .=&.&)+N 1+01.01+%., ‚_Xƒ 0$4 ,.,'O$%H$>.*.(&>+ ' $>4=4,>14%F ‚aYƒ3 ;$>F 0&H=1.H$1.*.(&$ +01+ 0+@+%F I& %+O%$>1$%F *$ H+1.)+*+ 1+%$=+41&>+ $,1+%&.% H+,[&.,$1+N 0+ =.$1+ *4$ B, >.,0&)+%$%+ 0>]&HD$%+$ $,1&&,O*$H$1.%4*4 •
•
y# X'KC')(&/"'* "3 -},>] #93 600+,1&$*0 .O /,>.*.(} 2$%+3 T+~ €.%jd 9%.O+00&.,$* 94D*&0]&,( L%.4=3N ?YYZ3 ?3 7$=]$+* mN 8]H+)G$& PN l+01+% mN <%>] 2N `$%%&+ mN x&**&$H0 mN J$%‰4]$%'PH&1] 9 +1 $*3 2$,>+% 9$&,d 9$%1 "d 9$1].=]}0&.*.(}q /,>.*.(&>$*N 9]$%H$>.*.(&>$*N $,) 90}>].*.(&>$* 5%+$1H+,10d 8 9+%0=+>1&@+ O%.H 1]+ `%&1&0] 9$&, P.>&+1} 6,).%0+) D} 1]+ <• 800.>&$1&., .O 9$**&$1&@+ #+)&>&,+ $,) 1]+ 7.}$* 2.**+(+ .O L+,+%$* 9%$>1&1&.,+%03 9$&, #+)&>&,+ ?Y"Yq ""dab?ea_b3 S3 ;+$,)%+$ PN #.,1$,$%& #N #.k$ -N +1 $*3 9%+@$*+,>+ .O 4,)+%1%+$1H+,1 &, >$,>+% =$&,3 8 %+@&+~ .O =4D*&0]+) *&1+%$14%+3 8,, /,>.*3 ?YY\q "XQ"?Rd"X\Z'"XX"3 b3 •$,[email protected] 93 5]+ %&0&,( D4%)+, .O >$,>+% &, 1]+ )+@+*.=&,( ~.%*)3 8,, /,>.*3 ?YY_q "a P4==* \d@&&&"Z'@&&&?S3 Z3 ;$@&+0 9PN ;‹8%>} €3 2.H=$>1 2*&,&>$* L4&)+ 1. 2$,>+% 9$&, #$,$(+H+,13 T+~ €.%jd _3 a3
P=%&,(+% 94D*&0]&,( 2.H=$,}N ?Y"S3 9$&>+ m8N J+%%+** `3 5]+ H$,$(+H+,1 .O >$,>+% =$&,3 28 2$,>+% m 2*&,3 ?Y""q _"QSRd"Za'\?3 7&=$H.,1& 2:N P$,1&,& ;N #$%$,G$,. 6N `+%1& #N 7.&*$ J3 #$,$(+H+,1 .O >$,>+% =$&,d 6P#/ 2*&,&>$* 9%$>1&>+ L4&)+*&,+03 8,,$*0 .O /,>.*.(} ?Y"?q ?S QP4==*+H+,1 aRd @&&"SX' @&&"ZbN
"aS
\3
X3
"Y3 ""3
"?3
"S3
"b3
"Z3 "_3 "a3
"\3
"X3 ?Y3
?"3 ??3 ?S3
?b3
?Z3
?_3
?a3
?\3
`%+0>&$ JmN 9.%1+,.} 7•N 7}$, #N •%$0,.OO -N L%$} L3 9$&,N .=&.&) 40+N $,) 04%@&@$* &, ].0=&1$*&G+) =$1&+,10 ~&1] $)@$,>+) >$,>+%3 m 2*&, /,>.* "XX?q "Yd"bXe"ZZ3 -&=H$, 8L3 9$&, #$,$(+H+,1 O.% 9%&H$%} 2$%+ 2*&,&>&$,03 T+~ €.%jd 8H+%&>$, P.>&+1} .O l+$*1]'P}01+H 9]$%H$>&010N :,>q ?YYb3 `%+0>&$ Jm3 9$**&$1&@+ >$%+ &, =$,>%+$1&> >$,>+%3 2$,>+% 2.,1%.* ?YYbq ""dSX'bZ3 `4%1., 8xN J$,>&4**. LmN `+$0*+} 7;N J&0>] #m3 2]%.,&> =$&, &, 1]+ >$,>+% 04%@&@.%d $ ,+~ O%.,1&+%3 9$&, #+)3 ?YYaq \d"\X'"X\3 8D+*.OO #N 8%H&1$(+ mN T&+)+%]4D+% mN •$01$, #N #>•+,,$ x3 8D+*.OO‹0 2*&,&>$* /,>.*.(} b1] 6)&1&.,3 T+~ €.%jd 2]4%>]&** -&@&,(01.,+N &H=%&,1 .O 6*0+@&+% `..j0N ?YY\3 P.%j&, -3 T.>&>+=1&@+ =$&,3 :, #3P3 x$**$>+ “ 93 P1$$103 9$&, H+)&>&,+ “ H$,$(+H+,13 T+~ €.%jN T€d #>L%$~'l&**N ?YYZ3 P&j$,)$% PN ;&>j+,0., 8l3 g&0>+%$* =$&,d 1]+ &,0 $,) .410N 1]+ 4=0 $,) ).~,03 24%% /=&, P4==.%1 9$**&$1 2$%+3 ?Y"?q _Q"Rd"a'?_3 -+~&0 53 9$&,3 T+~ €.%jd #$>#&**$,N "Xb?3 ]11=drr~~~3&$0='=$&,3.%(r&,)+f3$0=f J&1G(&DD., ;7N -.+0+% m;3 2$,>+% 9$&,d 800+00H+,1N )&$(,.0&0 $,) H$,$(+H+,13 9]&*$)+*=]&$N 98d x.*1+%0 •*4~+%0r-&==&,>.11N x&**&$H0 “ x&*j&,0N ?Y"Y3 7.~D.1]$H #23 #+>]$,&0H0 .O ,+4%.=$1]&> =$&, $,) 1]+&% &H=*&>$1&.,0 O.% 1]+ )+0&(, .O >*&,&>$* 1%&$*03 T+4%.*.(} ?YYZq ?Xq_ZQ"? P4==* bRdP__'aS3 #4,(&4 /2N m$D$ :#3 #$,$(+H+,14* )4%+%&&3 L]&) =%$>1&>3 :$I&d L%3 53 9.=$ <#J :$I&N ?YYX 5$HD$ `:N #4,(&4 /23 ;4%+%+$ B, >$,>+%3 #$,4$* =+,1%4 $0&01+,[& H+)&>$*&3 :$I&d L%3 53 9.=$3 <#J :$I&N ?Y"?3 `%..j.OO ;3 2]%.,&> =$&,d "3 8 ,+~ )&0+$0+ l.0= 9%$>13 ?YYYq "ZqSZQaRdbZ'Z?N ZX3 ]11=drr~~~3,>>,3.%(r=%.O+00&.,$*0r=]}0&>&$,Ž(*0r=)Or=$&,3=)O 7.>j@&**+ #;3 #$,$(H+,1 .O 2$,>+% 9$&,3 2*&,&>$* 9%$>1&>+ L4&)+*&,+ T.3 X3 8l297 94D*&>$1&., T.3 Xb'YZX?3d 8(+,>} O.% l+$*1]>$%+ 9.*&>} $,) 7+0+$%>] "XXb3 8,)+%0., •/N L+11. 2mN #+,).G$ 57N +1 $*3 J$1&(4+ $,) 0*++= )&014%D$,>+ &, =$1&+,10 ~&1] >$,>+%N =$1&+,10 ~&1] >*&,&>$* )+=%+00&.,N $,) >.HH4,&1}')~+**&,( $)4*103 m 9$&, P}H=1.H #$,$(+ ?YYSq ?ZQbRdSYae"\3 8D%$]$H mN L4**+} m-N 8**+(%$ 2m3 5]+ `+1]+0)$ l$,)D..j .O 2*&,&>$* /,>.*.(}N 5]&%) 6)&1&.,3 6)3 -&==&,>.11 x&**&$H0 “ x&*j&,0 9]&*$)+*=]&$ ?Y"Y3 x$,( l-N •%.+,j+ •N x4 mN 54 xN 5]+.D$*) ;N 7$~* P#3 9%+)&>1.%0 .O >$,>+%'%+*$1+) =$&, &H=%.@+H+,1 .@+% 1&H+3 90}>].0.H #+)3 ?Y"?q@abQ_Rd_b?'a3 ;+ 2.,,. JNg3 2$%$>+,& 8N L$HD$&,8N>$,>+% #$%&$,& -N `$11&01$ 8N `%4,+**& -$ #4%$9$&, 8N g+,1$O%&))$ 9$&, H+$04%+H+,1 =$1&+,10d $ >.H=$%&0., .O 0&f2NH+1].)03 "XXbq Za Q?b\"Rd "_"'"__3 #&%., -3 5+%$=&$ .,>.*.(&>F ' .=[&4,& D$G$1+ =+ ).@+G&3 :$I&d 6)3 :,01&1414* 64%.=+$, ?YY\3
"ab
?X3
SY3
S"3
S?3
SS3
Sb3 SZ3
S_3
Sa3
S\3
SX3
bY3
b"3
b?3
bS3
x$,( l-N •%.+,j+ •N x4 mN 54 xN 5]+.D$*) ;N 7$~* P#3 2$,>+%'7+*$1+) 9$&, $,) ;&0$D&*&1}d 8 -.,(&14)&,$* P14)}3 m.4%,$* .O 9$&, $,) P}H=1.H #$,$(+H+,13 ?Y""q b?Q_Rd\"Se\?"3 `$% 8) gN x+&,01+&, LN ;411$ 97N +1 $*3 L$D$=+,1&, O.% 1]+ 1%+$1H+,1 .O =$&, 0},)%.H+ %+*$1+) 1. %$)&$1&.,'&,)4>+) H4>.0&1&0 &, =$1&+,10 ~&1] ]+$) $,) ,+>j >$,>+% 1%+$1+) ~&1] >.,>4%%+,1 >]+H.%$)&.1]+%$=}3 2$,>+% ?Y"Yq ""_db?Y_'b?"S3 `$&,+0 #m3 5]+ =$1].=]}0&.*.(} $,) H$,$(+H+,1 .O H$*&(,$,1 &,1+01&,$* .D01%4>1&.,3 :,d ;.}*+ ;N l$,j0 Lx2N #$>;.,$*) T3 /fO.%) 5+f1D..j .O 9$**&$1&@+ #+)&>&,+3 /fO.%)N <3•3d /fO.%) <,&@+%0&1} 9%+00q "XX\3 =3 Z?_'ZSb3 P.*.H., lmN 81j&,0., •lN 2.==*+0., mgN +1 $*3 `.~+* >.H=*&>$1&.,0 &, 1]+ H$,$(+H+,1 .O .@$%&$, >$,>+%3 8401 T c m /D01+1 L},+>.* "X\Sq?Sd_Z'_\3 -+~&0 #8N l+,)%&>j0., 8xN #.},&]$, 5m3 /,>.*.(&> +H+%(+,>&+0d 9$1].=]}0&.*.(}N =%+0+,1$1&.,N )&$(,.0&0N $,) 1%+$1H+,13 2$ 2$,>+% m 2*&,3 ?Y""q _"d?\aeS"b3 7411+% 2N x+&00H$, ;63 7$)&$1&., O.% =$**&$1&.,''=$%1 "3 m 9$**&$1 #+)3 ?YYbqaQ_Rd\_Z'_3 7$)+0 ;N 8D%$]H m-3 5]+ %.*+ .O %$)&.1]+%$=} O.% H+1$01$1&> +=&)4%$* 0=&,$* >.%) >.H=%+00&.,3 T$1 7+@ 2*&, /,>.*3 ?Y"Yq adZXYeZX\3 2].& 5'€N -++ #PN •&H 5'lN c$0*$~0j& 2N 6%,01 63 8>4=4,>14%+ O.% 1]+ 1%+$1H+,1 .O >$,>+% =$&,d $ 0}01+H$1&> %+@&+~ .O %$,).H&0+) >*&,&>$* 1%&$*03 P4==.%1&@+ 2$%+ &, 2$,>+%3 ?Y"?q?YQ_Rd""bae""Z\3 m.]$,,0+, #N J$%@+% :N `+>j TN +1 $*3 5]+ +OO&>$>} .O =0}>].0.>&$* &,1+%@+,1&., O.% =$&, &, D%+$01 >$,>+% =$1&+,10 $,) 04%@&@.%0d $ 0}01+H$1&> %+@&+~ $,) H+1$'$,$*}0&03 `%+$01 2$,>+% 7+0+$%>] $,) 5%+$1H+,13 ?Y"Sq"S\QSRd_aZe_XY3 6%,01 63 :0 %+O*+f.*.(} $, +OO+>1&@+ &,1+%@+,1&., 8 0}01+H$1&> %+@&+~ .O %$,).H&0+) >.,1%.**+) 1%&$*03 #+)&>$* m.4%,$* .O 8401%$*&$3 ?YYXq"X"QZRd?_Se?__3 x$,( PmN y4 mN L.,( ;;N +1 $*3 #+1$'$,$*}0&0 .O .%$* 2]&,+0+ ]+%D$* H+)&>&,+ $0 $, $)k4@$,1 1%+$1H+,1 &, %+*&+@&,( =$&, 0+>.,)$%} 1. D.,+ H+1$01$0+03 2]&,+0+ m.4%,$* .O :,1+(%$1&@+ #+)&>&,+3 ?Y"S3 c]$,( m#N x$,( 9N €$. myN +1 $*3 #40&> &,1+%@+,1&.,0 O.% =0}>].*.(&>$* $,) =]}0&>$* .41>.H+0 &, >$,>+%d $ 0}01+H$1&> %+@&+~ $,) H+1$'$,$*}0&03 P4==.%1 2$%+ 2$,>+%3 ?Y"?q?YQ"?RdSYbSeSYZS3 P]+*1., `•N c&+(O+*) 27N /*0+, ##3 5]+ P&),+} l&HH+* 2.H=%+]+,0&@+ 2$,>+% 2+,1+% $1 m.], l.=j&,0 #$,4$* .O 2$,>+% T4%0&,(3 9]&*$)+*=]&$d -&==&,>.11 x&**&$H0 “ x&*j&,0N ?YYb3 J*$11+%0 Pm-N `+,,+1,+4%.=$1]}d Lm3 P14)&+0 .O .O =+%&=]+%$* 0+,G.%} ,+%@+0 &, =$>*&1$f+*'&,)4>+) =$&,O4* =+%&=]+%$* +@&)+,>+ O.% H&1.>].,)%&$* )&0O4,>1&.,3 9$&, ?YY_q "??d?bZ'?Za3 J&,,+%4= T`N P&,)%4= PlN m+,0+, 5P3 5]+ +@&)+,>+ O.% =]$%H$>.*.(&>$* 1%+$1H+,1 .O ,+4%.=$1]&> =$&,3 9$&, ?Y"Yq "ZYdZaS'Z\"
"aZ
bb3
bZ3
b_3
ba3
b\3
bX3
ZY3 Z"3 Z?3
ZS3
Zb3
ZZ3
Z_3
Za3
Z\3
ZX3
PH&1] 6#N 9$,( lN 2&%%&,>&.,+ 2N J*+&0]H$, PN 9$0j+11 6;N 8]*+0 5N `%+00*+% -7N J$)4* 26N •,.f 2N -+'-&,)‰~&01+% TN L&*H$, 9`N P]$=&%. 2-3 8**&$,>+ O.% 2*&,&>$* 5%&$*0 &, /,>.*.(}3 6OO+>1 .O )4*.f+1&,+ ., =$&,N O4,>1&.,N $,) ‰4$*&1} .O *&O+ $H.,( =$1&+,10 ~&1] >]+H.1]+%$=}'&,)4>+) =$&,O4* =+%&=]+%$* ,+4%.=$1]}d $ %$,).H&G+) >*&,&>$* 1%&$*3 m8#83 ?Y"Sq SYXQ"SRd"SZX'_a3 #&0]%$ PN `]$1,$($% PN L.}$* LTN 7$,$ P9N <=$)]}$ P93 8 >.H=$%$1&@+ +OO&>$>} .O $H&1%&=1}*&,+N ($D$=+,1&,N $,) =%+($D$*&, &, ,+4%.=$1]&> >$,>+% =$&,d $ =%.0=+>1&@+ %$,).H&G+) ).4D*+'D*&,) =*$>+D.'>.,1%.**+) 014)}3 8H m l.0= 9$**&$1 2$%+3 ?Y"?q ?XQSRd"aa3 9+1+%0., ;6N `+,0$).4, 7mN 7.&*$ J3 #$,$(+H+,1 .O .%$* $,) ($01%.&,1+01&,$* H4>.0&1&0d 6P#/ 2*&,&>$* 9%$>1&>+ L4&)+*&,+03 8,,$*0 .O /,>.*.(} ??N 04==* _d@&a\'@&\b3 6=01+&, m`N P>]4D+%1 ##3 /%.=]$%},(+$* H4>.0&1&0 &, >$,>+% 1]+%$=}3 7+@&+~ .O =$1].(+,+0&0N )&$(,.0&0N $,) H$,$(+H+,13 /,>.*.(}3 ?YYSq"aQ"?Rd"a_a3 74).~0j$ m3 #$,$(+H+,1 .O D%+$j1]%.4(] =$&, )4+ 1. >$,>+%3 2.,1+H= /,>.* Q9.G,R3 ?Y"?q"_Q_RdbX\'ZY"3 x++ `N `%.~,&,( mN 8)$H0 8N `+,0., ;N l.~$%) 9N •*+==&,( LN #.*$00&.1&0 8N 5$}*.% ;3 #$,$(+H+,1 .O >]%.,&> >.4(] &, =$1&+,10 %+>+&@&,( =$**&$1&@+ >$%+d %+@&+~ .O +@&)+,>+ $,) %+>.HH+,)$1&.,0 D} $ 1$0j (%.4= .O 1]+ 800.>&$1&., O.% 9$**&$1&@+ #+)&>&,+ .O L%+$1 `%&1$&, $,) :%+*$,)3 9$**&$1 #+)3 ?Y"?q?_da\Yea3 9%$0$) ;N P>]&OO ;3 #$*&(,$,1 0=&,$*'>.%) >.H=%+00&.,3 -$,>+1 /,>.*3 ?YYZq_d"Ze?b3 P>]&OO ;3 P=&,$* >.%) >.H=%+00&.,3 T+4%.* 2*&,3 ?YYSq?"d_a'\_3 8D%$]H m-N `$,OO} #`N l$%%&0 #`3 P=&,$* >.%) >.H=%+00&., &, =$1&+,10 ~&1] $)@$,>+) H+1$01$1&> >$,>+%3 m8#83 ?YY\q?XXdXSa'Xb_3 ;+}. 78N 7$&,@&**+ mN •+,1 ;-3 x]$1 >$, 1]+ ]&01.%} $,) =]}0&>$* +f$H&,$1&., 1+** 40 $D.41 *.~ D$>j =$&, m8#83"XX?q?_\da_Y'a_Z3 €4] x5N c$>]$% 2•N `$%*.., 5mN P$1. €N P&>j+*0 xmN l$~+0 ;73 g+%1+D%$* >.H=%+00&., O%$>14%+0d )&01&,>1&., D+1~++, D+,&(, $,) H$*&(,$,1 >$40+0 ~&1] #7 &H$(&,(3 7$)&.*.(}3 "X\Xq"a?d?"Z'?"\3 •~.j €N 5&DD0 98N 9$1>]+** 783 2*&,&>$* $==%.$>] 1. H+1$01$1&> +=&)4%$* 0=&,$* >.%) >.H=%+00&.,3 l+H$1.* /,>.* 2*&, T.%1] 8H3 ?YY_q?Yd"?Xa'"SYZ3 2.*+ mPN 9$1>]+** 783 #+1$01$1&> +=&)4%$* 0=&,$* >.%) >.H=%+00&.,3 -$,>+1 T+4%.*3 ?YY\qadbZX'b__3 @$, )+, `+4j+,'@$, 6@+%)&,(+, #lN )+ 7&kj+ m#N •+00+*0 8LN P>].41+, l2N @$, •*++O #N 9$1&k, 9%+@$*+,>+ .O =$&, &, =$1&+,10 ~&1] >$,>+%d $ 0}01+H$1&> %+@&+~ .O 1]+ =$01 bY }+$%03 m3 8,, /,>.*3 ?YYaq"\d"bSa'"bbX3 #.%}* TN 2.}*+ TN 600$,).] PN L*$%+ 93 2]%.,&> =$&, H$,$(+H+,1 &, >$,>+% 04%@&@.%03 m T$1* 2.H=% 2$,> T+1~3 ?Y"Yq \QXRd""Yb'"Y3 P4, gN `.%,+H$, 5N 9&=+% `N •.>G}~$0 #N J+%%+** `3 `$%%&+%0 1. =$&, $00+00H+,1 $,) H$,$(+H+,1 &, >$,>+% 04%@&@.%0]&=3 m 2$,>+% P4%@&@3 ?YY\q?d_Z'a"3
"a_
<425791;4275:=7 <453%0,790V 9;7,790 87 5024<015790 4;0 N120277 ;4 <4970,=77 91 X3;7 [06453i3,93;3%790 6*+,$ 8*D4N g&.%+* ;$,$&*$N 8,(+*$ PH$%$,)$ ;$0>$*+0>4N 2$1$*&, ;$,$&*$ ;&0>&=*&,$ )+ l+H$1.*.(&+ <#J oL%&(.%+ 53 9.=$o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f&01$ . 0+%&+ )+ >.H=*&>$E&& *+($1+ )+ +@.*4E&$ D.*&& Q&,O$%>1+N &,O+>E&&N .01+.*&G+N O%$>14%&RN )+ 1%$1$H+,14* H+)&>$H+,1.0 QO*+D&1+N +f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d '2.H=.,+,1$ 0+,G.%&$*F 0+ %+O+%F *$ >$*&1$1+$N &,1+,0&1$1+$N )4%$1$ I& *.>$*&G$%+$ )4%+%&& '2.H=.,+,1$ +H.E&.,$*F +01+ *+($1F )+ >$%$>1+%4* )+G$(%+$D&* $* )4%+%&&N B,1%+E&,A,) . 01$%+ )+ $,f&+1$1+ I& )+=%+0&+ '2.H=.,+,1$ >.(,&1&@F I& >.H=.%1$H+,1$*F 0+ %+O+%F *$ H.)&O&>$%+$ =+%>+=E&+& *4H&& B,>.,k4%F1.$%+N $ $1&14)&,&& D.*,$@4*4& O$EF )+ $,14%$k4* =+%0.,$*N =%.O+0&.,$* I& O$H&*&$ 8,0$HD*4* $>+01.% O$>1.%& 1%$,0O.%HF )4%+%+$ &,&E&$*F B, )4%+%+ 1.1$*FN B, 04O+%&,EF QO&(3"R
"aa
9/@Q* /C* +@&*&'' '> K)C' D*H/?)C)('A* C, D.*&*+ ]+H$1.*.(&>+ ,+ =41+H >.,O%4,1$ $1A1 >4 )4%+%+ $>41F >A1 I& >4 )4%+%+ >%.,&>F3 ;4%+%+ =.$1+ O&d =%&, +f>+0 )+ ,.>&>+=E&+ ,+4%.=$1F H&f1F B, *+(F14%F >4 D.$*$ 0$4 B, *+(F14%F >4 1%$1$H+,14* • •
• • •
C, ]+H.=$1&& O& >$4G$ +@.*4E&+& 14H.%$*+ =%&,d *+G&4,&H$*&(,+ .0.$0+ )4%+%+$ QH&+*.H =.$1+ H4*1&=*4RN •
=%&, >.H=%+0&4,& &,O&*1%$%+$ 01%4>14%&*.% ,+%@.$0+ =+%&O+%&>+ 0$4 >+,1%$*+ >4 $1&,(+%+$ O&D%+*.% 0+,G&1&@+ 0$4 H.1.%&& Q*&HO.=%.*&O+%F%&N H&+*.=%.*&O+%F%&R =%&, *+G&4,& @&0>+%$*+ H$,&O+01$1+ =%&, &,O&*1%$%+$ I& &,O*$H$E&$ 0+%.$0+*.% &,O&*1%$%+$ I& )&01+,0&$ @&0>+%+*.% Q*&HO.=%.*&O+%F%&R &,O&*1%$%+$ I& .>*4G&$ @$0+*.% &,O&*1%$%+$ I& *+G&4,& >41$,$1+ I& H4>.$0+ >.H=*&>$E&& *+($1+ )+ &H4,.)+O&>&+,E$ &,)40F )+ H+)&>$E&$ $,1&,+.=*$G&>F 0$4 )+ D.$*$ B,0FI& >4H $% O& ,+@%&1$ G.01+%&$,F =%+>4H I& =%&, >.H=*&>$E&& *+($1+ )+ 1.f&>&1$1+$ >]&H&.1+%$=&+& >4H $% O& )4%+%+$ )&, H4>&1+N ,+4%.=$1&& =+%&O+%&>+ 1.f&>+ 0$4 +f1%$@$GF%& $>>&)+,1$*+3 2+*+ H$& O%+>@+,1+ D.*& ]+H$1.*.(&>+ ,.,'.,>.*.(&>+ >$%+ 0+ B,0.E+0> )+ )4%+%+ 04,1 $,+H&$ O$*>&O.%HF ^& ]+H.O&*&$3 C, $,+H&$ O$*>&O.%HF )4%+%+$ +01+ >$4G$1F )+ .>*4G&$ H&>%.>&%>4*$E&+& )+ >F1%+ +%&1%.>&1+*+ )+O.%H$1+ I& %&(&)+ >4 &0>]+H&$ I& ,+>%.G$ G.,+& &,1+%+0$1+ Q,+>%.GF $0+=1&>F )+ >$= O+H4%$*N )&01%4>E&$ .$0+*.% H&>&N *+G&4,& $*+ >.%1&>$*+& +f1%+H&1FE&*.% .$0+*.% *4,(&N &,O$%>1+ H+G+,1+%&>+N &,O$%>1+ =4*H.,$%+N +1>3R3 C, ]+H.O&*&+N )4%+%+$ %+=%+G&,1F 0&H=1.H4* =%+>.>+ B, ]+H.%$(&&*+ ,++f1+%&.%&G$1+N >4H +01+ >$G4* ]+H$%1%.G+*.%N ]+H$1.$H+*.% 04D>41$,$1+ I& 04DH4>.$0+N ]+H$1.$H+*.% *.k+*.% H40>4*$%+N =+%&.$01$*+N &,1%$.0.$0+ 0$4 &,1%$H40>4*$%+3 -$ $>+I1& =$>&+,E& )4%+%+$ %+=%+G&,1F 4, 0+H,$* )+ $*$%HF =+,1%4 +@.*4E&$ *.>$*F $ ]+H.%$(&+& I& $ $=*&>F%&& 1%$1$H+,14*4& 04D01&141&@ QO$>1.%4* g::: 0$4 O$>1.%4* :y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• •
• • • • •
•
>.,1%$*$1+%$*N >$4GF 04=*&H+,1$%F )+ )4%+%+3 !?&/?*('' />/C(*Q'A* W> A/>A*& "3 4K)&+/&* "/&H/A)C)('AF - T+.=&.&)+ Q+f3 80=&%&,FN 8>+1$H&,.O+,N 8:TPR =+,1%4 )4%+%+ 4I.$%F =A,F *$ H.)+%$13 - /=&.&)+ 0*$D+ Q+f3 >.)+&,FR =+,1%4 )4%+%+ H.)+%$1FN =+%0&01+,1F3
"a\
-
?3 -
S3
/=&.&)+ =41+%,&>+ Q+f3 H.%O&,FR =+,1%4 )4%+%+ 0+@+%F3 2.$,$*(+G&>+ Q+f3 $,1&)+=%+0&@+N $,1&>.,@4*0&@$,1+R =+,1%4 $ =.1+,E$ +O+>14* $,1&$*(&> ‚_N"YN""N?"N??N ?bN ?Zƒ3 5*&/G'/ />?'A/>A*&)/.F +* &*+@A*&* / H/.*' ?@H)&/C* :,1+%@+,E&$ >]&%4%(&>$*F 7$)&.1+%$=&$ 2]&H&.1+%$=&$ 5*&/G'* >*H*+'A/H*>?)/.F
b3 4>/C(*Q'* >*@&)AD'&@&('A/C* &*(')>/CF Z3 <&)A*+** 8D.%)$%+$ O$%H$>.*.(&>F $ )4%+%&& =%.)40+ )+ >$,>+% 5%$1$H+,14* )4%+%&& >$,>+%.$0+ 0+ +O+>14+$GF )4=F >+*+ 1%+& 1%+=1+ $*+ $,$*(+G&+& QKP>$%$ $,$*(+G&>F $ /#PM O&(3 "3R ‚bNZN?_ƒ !9424 4,4;%0o794 4 36! 2.,O.%H >.,>*4G&&*.% >.,O+%&,E+& /%($,&G$E&+& #.,)&$*+ $ PF,F1FE&& Q/#PR )+ *$ #&*$,.N :1$*&$N "X\b >.,>%+1&G$1+ B, =4D*&>$%+$ *4>%F%&& 7+)4>+%+$ ;4%+%&& B, 2$,>+% Q2$,>+% 9$&, 7+*&+OR3N KH*?)+/ +* &*+@A*&* / +@&*&''{V . $D.%)$%+ 01%4>14%$*F $ 0+*+>E&+& H+)&>$H+,1+*.%N $ )+@+,&1 >4,.0>41F 04D ,4H+*+ )+ K!A/&/ />/C(*Q'AF / 36!{ B"'(# lE# 8>+$01$ >.,01F B, 1%+& 1%+=1+ =%&,>&=$*+d "3 =$>&+,E&& >4 *+%"%" #1,B> 1%+D4&+ 1%$1$E& >4 />/C(*Q'A* >)>i)G')'+*N >$%+ $% 1%+D4& >.HD&,$1+ >4 H*+'A/H*>?* /+]@I/>?*N )$>F +f&01F &,)&>$E&+ 0=+>&O&>F =+,1%4 $>+$01$q ?3 =$>&+,E&& >$%+ =%+G&,1F *+%"%" 4/*"%,.> 0$4 >$%+ 04,1 %"1,.(; (0./1"%,0<( I& =+,1%4 >$%+ 1%$1$%+$ >4 ,.,'.=&.&G& ,4 $%+ 04>>+0 B, %+)4>+%+$ 0$1&0OF>F1.$%+ $ )4%+%&&N 1%+D4&+ 1%$1$E& >4 )G')'Q' ")C).'Y' W> H)+ A)>I*>Y')>/C G*>?&@ +@&*&*/ .C/KF =A,F *$ H.)+%$1F Q>4,.0>4E& $,1+%&.% >$ .=&.&G& 0*$D&Rq S3 =$>&+,E&& >$%+ =%+G&,1F *+%"%" #";"%> 0$4 =+,1%4 >$%+ $)H&,&01%$%+$ >.%+0=4,GF1.$%+ )+ H+)&>$H+,1+ )+ =+ 1%+$=1$ $ ).4$ $ 0>$*+& $,$*(+G&>+ ,4 $%+ 04>>+0 B, %+)4>+%+$ 0$1&0OF>F1.$%+ $ )4%+%&&N 1%+D4&+ 0F =%&H+$0>F 4, )G')'+ ")C).'? W> H)+ A)>I*>Y')>/C G*>?&@ +@&*&*/ H)+*&/?F Gp>F C/ .*I*&F Q>4,.0>41 $,1+%&.% >$ .=&.&) =41+%,&>R3 2.,O.%H $>+01.% B,)%4HF%&N =+,1%4 1.E& =$>&+,E&& >4 +@&*&* H)+*&/?F ./@ .*I*&F 1%+D4&+ 0F 0+ B,>+%>+ . ?*&/G'* A@ )G')'Q'3 ;4=F $=%.$=+ ?Y )+ $,&N $41.%&1FE&*+ H+)&>$*+ >.,1&,4F 0F 040E&,F =%&,>&=&4* >F*F4G&1.% >$%+ 01F *$ D$G$ 0>F%&&N I& $,4H+ >F 0+*+>E&$ )+ $,$*(+G&>+ 1%+D4&+ 0F O&+ >.,)&E&.,$1F B, =%&,>&=$* )+ 0+@+%&1$1+$ )4%+%&&3 C, >&4)$ %F0=A,)&%&& >4 04>>+0 $ 0>F%&&N 0.,)$k+*+ $%$1F >F H4*1.% =$>&+,E& *& 0+ $)H&,&01%+$GF B,>F $,$*(+G&>+ ,+>.%+0=4,GF1.$%+3 6f&01F >A1+@$ +f=*&>$E&& =.0&D&*+ =+,1%4 $>+$01F )&0>%+=$,EF3 9+ )+ . =$%1+N =.1 +f&01$ &H=+)&H+,1+ B, &H=*+H+,1$%+$ 0>F%&&3 9+ )+ $*1F =$%1+N 0>$%$ 0+ =.$1+ ).@+)& $ ,4 $@+$ $>++$I& $=*&>$D&*&1$1+N +O&>&+,EF 0$4 $>>+=1$D&*&1$1+N $I$ >4H 0+ $I1+=1$ *$ B,>+=413 JF%F B,).&$*FN 0>$%$ /#PN $*F14%& )+ H4,>$ 040E&,41F $ H4*1.% =+%0.$,+ &H=*&>$1+ B, 0&01+H4* )+ H$,$(+H+,1 $* )4%+%&&N $ O.01 O.$%1+ +O&>$>+ >$ HF04%F B, 0=%&k&,4* 0F,F1FE&&
"aX
=4D*&>+N )+.$%+>+N B, H4*1+ EF%&N 0'$ H.)&O&>$1 *+(&0*$E&$ =%&@&,) >%+I1+%+$ )&0=.,&D&*&1FE&& H+)&>$H+,1+*.% >.,1%$ )4%+%&&3 6@&)+,E&+%+$ +O&>$>&1FE&& >$ *&,&+ )&%+>1.$%+ B, =%$>1&>$ >*&,&>F +01+ H$& =4E&, >*$%F3 ;+ $0+H+,+$N $ O.01 0+H,$*$1F 41&*&1$1+$ +& >$ H+1.)F )+ %+)4>+%+ $ )4%+%&& =+,1%4 =$>&+,E& =+ )4%$1$ D.*&& >$,>+%.$0+ ‚"bN "Zƒ3 &?'A@C/&'?FS' ?*&/G*@?'A* /C* +@&*&'' W> K)C'C* D*H/?)C)('A* C, >$G4* />*H'*' "/CA'")&H* 1%$1$H+,14* )4%+%&& )&, >%&G+*+ .>*4G&@+ %+=%+G&,1F =%&,>&=$*4* .D&+>1&@3 -$ $>+01$ 0+ $)$4(F $=*&>$%+$ 0&H4*1$,F $ HF04%&*.% 1+%$=+41&>+ >$%+ *&H&1+$GF I& =%+@&,+ O+,.H+,4* )+ 0&>*&G$%+ $* ]+H.(*.D&,+&d •
]&)%$1$%+$ >.%+>E&$ $>&).G+& .f&(+,.1+%$=&$ 1%$1$H+,14* &,O+>E&&*.% ' $,1&D&.1+%$=&$ 1%$,0O4G&$ I& 0>]&HD4* 1%$,0O4G&.,$* Q+f$,(4&,.'1%$,0O4G&$R 2.HD$1+%+$ )4%+%&& &H=4,+ 41&*&G$%+$ B,>F )+ *$ B,>+=41 $ $,$*(+G&>+*.% =41+%,&>+N .=&.&)+N >4 >%+I1+%+$ ).G+*.% =A,F *$ >.,1%.*4* >%&G+*.% )4%+%.$0+3 P+ B,>+=+ >4 H)&"'>F '>?&/I*>). S'b H( *$ O&+>$%+ "Z H&,41+ =A,F *$ >.,1%.*4* )4%+%&&3 8=.& 0+ >.,1&,4F >4 ).G$ 1.1$*FN >$%+ $ >.,1%.*$1 )4%+%+$N *$ O&+>$%+ S .%+3 C, O4,>E&+ )+ &,1+,0&1$1+$ )4%+%&& I& )+ +O&>&+,E$ HF04%&*.% 1+%$=+41&>+ >+ >.HD$1 0&>*&G$%+$ I& ]+H.*&G$ 0+ $k401+$GF ).G+*+ )+ H.%O&,F =$%+,1+%$*F3 2.,0+>41&@ 0+ =.1 $0.>&$ $,1&&,O*$H$1.$%+ ,+01+%.&)&+,+ Q8:TPR >4H $% O& `*?)&)C/AV `*?)G&)"*> 0$4 >.%1&>.&G& >4H $% O& H*?'CG&*+>'.)C)>@C =+,1%4 $ =.1+,E$ +O+>14* $,$*(+G&> $* .=&$>++*.%N H$& $*+0 $14,>& >A,) 0+ 04=*&H+,1+$GF I& +*+H+,14* &,O*$H$1.%3 -$ ?b )+ .%+ 0+ • • • •
$0.>&$GF H)&"'>F &*?/&+ N =+ >$*+ .%$*FN >4 %+)4>+%+$ 1%+=1$1F $ ).G+*.% &,1%$@+,.$0+ =A,F %FHA,+ ,4H$& O.%H$ .%$*F3 P>.$1+%+$ O.%H+& &,k+>1$D&*+ +01+ >%&1+%&4* )+ +f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d +01+ >+* H$& 0*$D )&,1%+ .=&.&G&& =.1+,E& $%+ 4, 1&H= )+ B,k4HF1FE&%+ 0>4%1 )+ ?'S .%+ $%+ . D&.)&0=.,&D&*&1$1+ %+)40F B, >$G4* $)H&,&01%F%&& .%$*+ I& 4, ,&@+* =*$0H$1&> %+)40 >4 @$%&$E&& )&4%,+ &H=.%1$,1+ &,+f=*&>$D&*+ >.H=$%$1&@ >4 =$>&+,E&& B, =.01.=+%$1.% H.1&@ =+,1%4 >$%+ ,4 %+$*&G+$GF . >.HD$1+%+ +O&>&+,1F $ )4%+%&& H+1$D.*&14* 0F4N ,.%H+=+%&)&,$N 0+ $>4H4*+$GF I& $%+ +O+>1+ 01&H4*$,1+ $*+ 0&01+H4*4& ,+%@.0 >+,1%$* Q,+%@.G&1$1+N 1%+H.%N $(&1$E&+N >.,@4*0&&R &%+@+%0&D&*+ *$ ,$*.f., • • • •
•
"\Y
8(.,&01'$,1$(.,&I1&& I& $(.,&I1&& =$%E&$*& $4 %.* *&H&1$1 B, >.,1%.*4* )4%+%&& >%.,&>+ )&, 0&>*+H&+3 ;+I& 0>]+H$ *.% )+ $)H&,&01%$%+ H$& =4E&, %&(4%.$0F I& +O+>14* *.% *&H&1$1 $04=%$ )+=%+0&+& %+0=&%$1.%&& >A,1F%+0> (%+4 >.H=$%$1&@ >4 $*1+ >$%$>1+%&01&>& O$%H$>.*.(&>+N $>+I1& )+%&@$E& ,4 04,1 )&0=.,&D&*& )+>A1 =+ >$*+ .%$*F Q>4 +f>+=E&$ =+,1$G.>&,+&R I& $4 +O+>1+ $)@+%0+ =0&].1.H&H+1&>+ Q]$*4>&,$E&&N )+*&%R >+ ,4 =.1 O& ,+(*&k$1+3 -&H&1$%+$ 41&*&GF%&& $(.,&01'$,1$(.,&I1&& I& $(.,&I1&& =$%E&$*& B, 1%$1$H+,14* )4%+%&& )&, 0&>*+H&+ +01+ )$1F I& )+d )&O&>4*1$1+$ )+ $ O& $,1$(.,&G$E& )+ ,$*.f., =%+>4H I& )+ O*+f&D&*&1$1+$ %+)40F B, 41&*&G$%+$ $*1.% $(.,&I1& =4%& H.1&@ =+,1%4 >$%+ >%+I1+ %&0>4* &,1+%$>E&4,&*.% H+)&>$H+,1.$0+ ,+).%&1+ -$ =$>&+,E&& >4 H'*C)H H@C?'GC@ 41&*&G$%+$ .=&.&G&*.% B, 1%$1$%+$ )4%+%&& %+=%+G&,1F . .=E&4,+ )+ ,+>+0&1$1+ )+.$%+>+ 8:TP 04,1 *&H&1$1+ )+ =%+G+,E$ O%+>@+,1F $ 1%.HD.>&1.=+,&&*.% &$% +O&>$>&1$1+$ $,1&&,O*$H$1.$%+*.% +01+ )+0+.%& ,+0$1&0OF>F1.$%+3 /=&.&G&& %+=%+G&,1F 4,4* )&, H&k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f&+ 0+>4,)$%F3 #$& H4*1N )&0O4,>E&$ @+,1&*$1.%&+ I& )4%+%+$ =.1 O& O$>1.%& O$@.%&G$,E& =+,1%4 04=%$&,O+>E&& %+0=&%$1.%&& >+ 04=*&H+,1+$GF ]&=.f&$3 -$ $>+I1& =$>&+,E& 0'$% %&)&>$ =%.D*+H$ )+=%+0&+& %+0=&%$1.%&& &,)40+ )+ .=&.&G&3 • •
;+=+,)+,1 )+ H.$%1+$3 ).GFN .=&.&G&& )+=%&HF >$G4%&*+ )&%+>1 >+,1%4* %+0=&%$1.%N $01O+* B,>A1 *$ 04=%$).G+ 0+ =.$1+ &,01$*$ C, =%$>1&>F )+ )+=%+0&+ %+0=&%$1.%&+ 04,1 %+*$1&@ %$%+N O+,.H+, +f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f+H=*4N 0>F)+%+$ =+%&01$*1&0H4*4& I& $ 0+>%+E&&*.% ($01%.'&,1+01&,$*+ $1A1 =%&, H+)&>$E&$ .=&.&)F >A1 I& =%&, 1.f&>&1$1+$ >]&H&.1+%$=&>+*.% $,1&>$,>+%.$0+ O$>&*&1+$GF 01$G$ &,1+01&,$*FN )+G@.*1$%+$ O*.%+& &,1+01&,$*+ .=.%14,&01+ >4 D$>1+%&+H&& 0+>4,)$%+ I& 0+=0&03 C, >.,1+f14* &H4,.)+O&>&+,E+& =$>&+,E&*.% >4 *+4>+H&& $>41+ .=&.&G&& =.1 $(%$@$ +@.*4E&$ =%&, >.,01&=$E&$ =+ >$%+ . )+1+%H&,F3 C, =*40N >.,01&=$E&$ %+D+*F &,)40F )+ .=&.&G& =.$1+ $(%$@$ +@.*4E&$ =$>&+,E&*.% >4 1%.HD.>&1.=+,&& 0+@+%+N >%+0>A,) %&0>4* ]+H.%$(&&*.% >+%+D%$*+ I& $ +)+H4*4& >+%+D%$* 0+>4,)$% H$,+@%+& g$*0$*@$ )&, 1&H=4* )+O+>$E&+&3 ;+ $>++$N >.,1%.*4* 1%$,G&14*4& &,1+01&,$* *$ =$>&+,E&& >$%+ =%&H+0> $,$*(+1&>+ .=&.&)+ +01+ 4, .D&+>1&@ &H=.%1$,1 I& 0+ %+$*&G+$GF >4 *$f$1&@+ .0H.1&>+N H+)&>$E&+ =%.j&,+1&>FN )&+1F
"\"
D.($1F B, O&D%+ I& *&>]&)+3 /=&.&G&& 41&*&G$E& *$ =$>&+,E&& >4 D.*& ]+H$1.'.,>.*.(&>+ =.1 04=*&H+,1$ (%+E4%&*+ I& @F%0F14%&*+ &,)40+ )+ >]&H&.1+%$=&$ $,1&>$,>+%.$0F >++$ >+ =.$1+ $1%$(+ )4=F 0&,+ )+G+>]&*&D%+ ]&)%.'+*+>1%.*&1&>+ 0+@+%+ I& $(%$@$%+$ +@.*4E&+& =$>&+,E&*.%3 C, $>+01 >$G +H+G$ =.$1+ O& >.,1%.*$1F )+ H+1.>*.=%$H&)N )+f$H+1$G.,FN 0$4 $,1$(.,&I1& )+ Z' l5S Q.)$,0+1%.,N (%$,&0+1%.,R3 8O+>1$%+$ O4,>E&+& ]+=$1&>+ $1A1 =%&, &,O&*1%$%+ *&HO.&)F >A1 I& =%&, >&1.*&G$ &,)40F )+ >]&H&.1+%$=&>+ $,1&,+.=*$G&>+ =.$1+ )&H&,4$ H+1$D.*&G$%+$ H.%O&,+& I& O.%H$%+$ H+1$D.*&E&*.% 0F& $>1&@& >4 >.,0+>&,E+ $04=%$ +O&>$>&1FE&& ).G+*.%3 ;+ $0+H+,+$N 4, +*+H+,1 =%&H.%)&$* B, 4%HF%&%+$ 1%$1$H+,14*4& >4 .=&.&G& *$ $>+$01$ >$1+(.%&+ )+ =$>&+,E& +01+ O4,>E&$ %+,$*F3 8*1+%$%+$ O4,>E&+& %+,$*+ =%&, ,+O%.=$1&+ 4%$1&>F 0$4 H&+*.H$1.$0F 0$4 =%&, 1.f&>&1$1+ H+)&>$H+,1.$0F $1%$(+ )4=F 0&,+ 0>F)+%+$ +*&H&,F%&& %+,$*+ $ H+1$D.*&E&*.% $>1&@& $& H.%O&,+& >4 =%.@.>$%+$ )+ +O+>1+ )+ 04=%$).G$%+ ‚"NSNaN"SN"aN"\N?a'Sbƒ3 T/A?)&'' A/&* '>"C@*>Y*/QF G*&A*GY'/ +@&*&''# A)>A*G?@C +* +@&*&* ?)?/CF 2.,O.%H /#P >$*H$%+$ )4%+%&& >$,>+%.$0+ 0+ O$>+ )4=$ 4%H$1.$%+*+ =%&,>&=&&d "3 ;4%+%+$ )&, >$,>+% 0+ =.$1+ I& 1%+D4&+ 1%$1$1F3 ?3 6@$*4$%+$ I& 1%$1$H+,14* )4%+%&& )&, >$,>+% 0+ O$>+ >+* H$& +O&>&+,1 B, +>]&=F3 S3 9%&H$ 1%+$=1F >.,01F B, >4,.$I1+%+$ )+1$*&$1F $ &01.%&>4*4& )4%+%&&N +f$H&,$%+$ >4 $1+,E&+ $ =$>&+,14*4& I& 01$D&*&%+$ >$4G+*.% $>+01+&$d )4%+%+ =%.)40F )+ >$,>+%N $0.>&$1F >$,>+%4*4&N =%.)40F )+ 1%$1$H+,1+*+ .,>.*.(&>+ 0$4 )+ $*1+ H.)&O&>F%& )4%+%+ %+=%+G+,1A,) . >.H=.,+,1F $ 4,4& 0&,)%.H 0=+>&O&> )4%+%+ 0.H$1&>FN ,+4%.=$1&>F 0$4 H&f1F b3 5%$1$H+,14* B,>+=+ >4 &,O.%H$%+$ =$>&+,14*4& I& >.HD&,$%+$ H+1.)+*.% O&G&>+ I& =0&].*.(&>+N O.*.0&,) $1A1 1%$1$H+,1 H+)&>$H+,1.0N >A1 I& ,+H+)&>$H+,1.03 Z3 #.1&@$E&$ 1%$1$H+,14*4& +01+d =%+*4,(&%+$ =+%&.$)+& )+ 0.H, OF%F )4%+%+ >$*H$%+$ )4%+%&& >A,) =$>&+,14* 0+ .)&],+I1+ >$*H$%+$ )4%+%&& >A,) =$>&+,14* +01+ $>1&@ ‚"XN?YN?Sƒ _3 #+)&>$H+,1+*+ 0&,(4%+ $0&(4%F $,$*(+G&+ $)+>@$1F B, )4%+%+$ >$,>+%.$0F )$>F 0+ $)H&,&01%+$GF =%+=$%$14* $)+>@$1N B, ).GF =.1%&@&1FN *$ &,1+%@$*+ )+ 1&H= =.1%&@&1+3 a3 2$*+$ )+ $)H&,&01%$%+ .%$*F +01+ =%+O+%$1FN &,>*40&@ *$ H.%O&,F3 \3 8)H&,&01%$%+$ $,1&$*(&>+*.% 1%+D4&+ OF>41F K)4=F >+$0MN *$ .%+ O&f+N =+,1%4 >$*H$%+$ )4%+%&& =+%0&01+,1+N I& ,4 K*$ ,+@.&+M 0$4 K*$ >+%+%+M3 X3 2.,O.%H >+*.% 1%+& 1%+=1+ /#P $*+ $,$*(+G&+&d B,$&,1+ )+ $ $k4,(+ *$ )4%+%+ 0+@+%F 0+ B,>+=+ =%+0>%&+%+$ H+)&>$E&+& ,+.=&.&)+N $k401A,) ).G$N *$ ,+@.&+ =A,F *$ ).G+ H$f&H+ =+%H&0+ )$>F 0$4 >A,) ,+.=&.&)+*+ =%+0>%&0+ =+ =%&H$ 1%+$=1F ,4 >$*H+$GF )4%+%+$ 04O&>&+,1N 0+ $0.>&$GF I& 4, .=&.&) )$>F 0$4 >A,) .=&.&)4* Q+f3 >.)+&,$R =%+0>%&0 =+,1%4 )4%+%+$ =+%0&01+,1F 0=%+ H.)+%$1 ,4 =%.)4>+ $,$*(+G&+N $>+01$ 0+ 0>]&HDF >4 4, .=&.&) =41+%,&> =+,1%4 >$*H$%+$ )4%+%&& H.)+%$1+ 0$4 0+@+%+ Q+f3 H.%O&,$R •
• •
• • •
•
•
•
"\?
"Y3 :,)&@&)4$*&G$%+$ ).G+&d ).G$ =.1%&@&1F +01+ >+$ >$%+ >$*H+$GF )4%+%+$3 ;.G$ H.%O&,+& .%$*+ 0+ >%+I1+ 1%+=1$1 )+ *$ Z H( *$ H$& H4*1 )+ "YYY H(3 ""3 -$ ,+@.&+ 0+ $0.>&$GF H+)&>$E&+ $)k4@$,1F ‚?N \NXN?_Nƒ ;&$(,.01&>4* )+ >$,>+%N $)4>+ 0>]&HDF%& =%.O4,)+ B, @&$E$ =$>&+,14*4& I& $* O$H&*&+& 0$*+N +01+ . D.$*F >%.,&>F >+ $%+ 4, &H=$>1 )+.0+D&1 $04=%$ $>1&@&1F1&*.% (+,+%$*+N &,>*4GA,) I& &,1+(%$%+$ 0.>&$*$N B, 1&H=4* I& )4=$ 1+%H&,$%+$ 1%$1$H+,14*4&N =%+>4H I& . 0+%&+ )+ ,+@.& 0=+>&$*+3 L,1(.,.", N0-%(H(%(1/% 1%+D4&+ 0F O&+ %+G4*1$14* 4,+& $D.%)F%& >.H=*+f+ >$%+ 0F %F0=4,)F ,+@.&*.% =$%1&>4*$%+ $*+ =$>&+,E&*.% I& O$H&*&&*.% $>+01.%$N 0F =%.H.@+G+ BHD4,F1FE&%+$ >$*&1FE&& @&+E&&N I& 0F >.,)4>F *$ . 41&*&G$%+ >A1 H$& +O&>&+,1F $ %+04%0+*.%3 C,(%&k&%+$ $>+01.% =$>&+,E& =%+04=4,+ H$& H4*1+ +1$=+3 "3 G&'H/ *?/GFd =$>&+,14* 1%+D4&+ 040E&,41 =0&]&> )+.$%+>+ $O*$%+$ )&$(,.01&>4*4& +01+ . %+$*&1$1+ 1%$4H$1&G$,1F3 5%+D4&+ 0F & 0+ +f=*&>+ >A1 H$& >*$%N >4 D*A,)+E+ I& *$ ,&@+*4* B,E+*+(+%&& *4& B, >+ >.,01F 1%$1$H+,14* >]&H&.1+%$=&> I& >$%+ 04,1 +O+>1+*+ *4& 0+>4,)$%+3 ?3 / +)@/ *?/GF =%+04=4,+ +O+>14$%+$ 1%$1$H+,14*4& B, 0&,+3 9+%0.,$*4* H+)&>$* 1%+D4&+ 0F )+$ ).@$)F )+ +H=$1&+ I& B,$*1 =%.O+0&.,$*&0H3 ;4=$ +O+>14$%+$ 1%$1$H+,14*4& 4%H+$GF e# / ?&*'/ *?/GF >+$ $ >.H=*&>$E&&*.% *+($1+ )+ 1%$1$H+,1 I& )+ D.$*FN >$%+ +01+ >+$ H$& 1%$4H$1&G$,1F I& >4 H.%1$*&1$1+$ >+$ H$& H$%+3 601+ . =+%&.$)F >%&1&>F B, >$%+ H+)&>4* I& $0&01+,1$ H+)&>$*F k.$>F 4, %.* )+>&0&@ B, +@.*4E&$ O$@.%$D&*F $ =$>&+,14*4&3 8>4HN &*(@C'C* +* /.*G.'* k' />?'.*G.'* 1%+D4&+0> O.$%1+ %&(4%.0 %+0=+>1$1+ =+,1%4 $ +@&1$ $=$%&E&$ >.H=*&>$E&&*.% )+ ,$14%F &,O+>E&.$0F3 9+%&.$)$ )+ $=*$G&+ >.,01F B,d 0>F)+%+$ &H4,&1$E&& .%($,&0H4*4&N $=$%&E&$ =+%&.$)+*.% O+D%&*+ =%+*4,(&1+N ]+H.%$(&& *$ )&O+%&1+ ,&@+*+ Q+=&01$f&0N (&,(&@.%$(&&N H+1%.%$(&&N ]+H$1+H+G+N ]+H$14%&&N H+*+,+ I& >]&$% ]+H.%$(&& >+%+D%$*+ B, 4%H$ >$%.%$ 04%@&,+ )+>+04*RN $=$%&E&$ >$,)&).G+*.% )&(+01&@+N $k4,(A,)4'0+ =$,$ *$ =$%+G+ &,1+01&,$*+N $O+>E&4,& $*+ $=$%$14*4& %+0=&%$1.%3 8>+01+ >.H=*&>$E&& =%+04=4, H.,&1.%&G$%+ $1+,1F Q1+%H.H+1%&G$%+N 4%H$%&%+$ 0>$4,+*.%N $ )&4%+G+&N $ O%+>@+,E+& %+0=&%$1.%&&N >$%)&$>+N $ 58R3 8=$% B, $>+$01F =+%&.$)F )4%+%& >+ ,4 >+)+$G$ +@+,14$*N )+>A1 *$ $)H&,&01%$%+$ )+ .=&$>++39$>&+,14* 1%+D4&+ H.,&1.%&G$1 &,)+$=%.$=+ I& B,>4%$k$1 0F 0=4,F .%&>+ =%.D*+HF ,.4 $=$%41F B, +@.*4E&$ 01F%&& 0$*+ )+ 0F,F1$1+ =+,1%4 $ =41+$ $>E&.,$ >4 =%.H=1&14)&,+ *$ %+G.*@$%+$ $>+01.%$3601+ %+>.H$,)$1F A)>.'C'*&*/ K)C>/I'C)& I& $ %4)+*.% $>+01.%$ )+ >F1%+ =+%0.,$* 0=+>&$*&G$1 Q=0&]&$1%& I& =0&].*.(&R3 5*&/G'/ +@&*&'' +@G/ H*?)+/ I/. C/ G/A'*>?'' D*H/?)i)>A)C)('A' 94o127 9;7,790 0P4;14204 N120277 6@$*4$%+$ )4%+%&& +01+ &,)&0=+,0$D&*F =+,1%4 .DE&,+%+$ 4,+& $,$*(+G&& 0$1&0OF>F1.$%+ I& >4=%&,)+ I$0+ =%&,>&=&& )+ D$GFd "3 ;4%+%+$ +01+ 4, 0&H=1.H 04D&+>1&@ I& $%+ &,1+,0&1$1+$ I& >$%$>1+%4* )+0>%&0+ )+ D.*,$@3 ?3 ;4%+%+$ 1%+D4&+ &,@+01&($1F >4 $1+,E&+d &01.%&>N +f$H&,$%+N &,@+01&($E&&3 S3 5%+D4&+ &,@+01&($1F O&+>$%+ *.>$*&G$%+ I& 1&= )+ )4%+%+ %+*$1$1+ )+ D.*,$@3
"\S
b3 5%+D4&+ >4,.0>41F +f1&,)+%+$ %+$*F $ D.*&& >$,>+%.$0+3 Z3 5%+D4&+ &,@+01&($E& 1.E& O$>1.%&& >$%+ &,O*4+,E+$GF =+%>+=E&$ )4%+%&&d O$>1.%& =0&]&>&N =0&].*.(&>&N 0.>&$*&N >4*14%$*& I& 0=&%&14$*&3 _3 9+%&.)&>N )4%+%+$ 1%+D4&+ %++@$*4$1F ‚"?ƒ 3 %D'+@C G&/A?'A +* H)>'?)&'Q/&* / +@&*&''^ <^ e O$>1.%&& G/C'/?'I' QB, >+ >.,)&E&& 0>$)+ &,1+,0&1$1+$ )4%+%&&Rq e O$>1.%&& =%.@.>$1.%& Q>+ >.,)&E&& =%.@.$>F 0$4 $>>+,14+$GF )4%+%+$Rq \^ g |@/C'?- Q>$%$>1+%4* )4%+%&&Rq 2^ e &/+'/?')> Q&%$)&+%+$ )4%+%&&Rq !^ g .*I*&'?- B&,1+,0&1$1+$ )4%+%&&Rq 5^ e O$>1.%4* ?'HG Q)4%+%+ >.,1&,4F 0$4 &,1+%H&1+,1FN *$ >+ &,1+%@$*+R3 ;4%+%+$ +01+ 4, 0&H=1.H 04D&+>1&@N B, >.,0+>&,EF ,4 =.$1+ O& HF04%$1F =%&, H+1.)+ .D&+>1&@+3 9+,1%4 $=%+>&+%+$ I& H.,&1.%&G$%+$ )4%+%&& 0+ O.*.0+0> H$& H4*1+ 0>$*+N )&,1%+ >$%+ >+$ H$& $(%+$1F +01+ .A/C/ I'Q@/CF />/C)/(F (&/+/?F W> hr AH# 8*1+ 0>$*+ O.*.0&1+d 0>$*$ ,4H+%&>F 0&H=*FN 0>$*$ @+%D$*FN 0>$*$ )+0>%&=1&@FN 0>$*$ =&>14%$*F I& 0>$*+ H&f1+3 !52450%77 <0,521 0P4;14204 N120277 :, >$)%4* :,1+%,$1&.,$* 800.>&$1&., O.% 1]+ P14)} .O 9$&, Q:8P9R 0+ 04D*&,&$G$ >$ n)4%+%+$ +01+ 1.1)+4$,$ 04D&+>1&@$M3 4@?)*I/C@/&*/N >$,) 0+ .D1&,+N +01+ =%&@&1$R#.,0*,%* *" ,+%R $* H$04%$1.%&&3 841.+@$*4$%+$ >4=%&,)+ )+0>%&+%& )+ 0+,1&H+,1+ %+*+@$1+ )+ )4%+%+N &H$(&,&N 1%$&%&N &,O.%H$1&& $04=%$ >$*&1$1&&N &,1+,0&1$1&&N )&H+,0&4,&*.% 0=$1&.'1+H=.%$*+ $*+ )4%+%&&3 ;$% &, >++$ >+ =%&@+01+ @$*&)&1$1+$ 0& >%+)&D&*&1$1+$ $>+01+& H+1.)+N 04,1 ).4$ &H=+)&H+,1+ &H=.%1$,1+d "3 =.$1+ O& +f+>41$1$ 0& )+ 4, >.=&* >4 4, ,&@+* >.(,&1&@ 0& *&,(@&01&> 04O&>&+,1 )+ )+G@.*1$1N O&&,) $01O+* +f>*40& >.=&&& H&>&N )+0& >+& $k4,0& *$ ,&@+* =%&H$% $* *&HD$k4*4& =.1 %$0=4,)+ *$ 0&H=*$ &,1%+D$%+ =%&@&,) +f&01+,1$ )4%+%&&3 801O+* >$ +@$*4$%+$ )+=&,)+ 0& )+ 1&=4* )+ &,1%+D$%& 0+*+>1$1+3 ?3 601+ H4*1 04=40$ &,O*4+,1$%&& )$1.%&1$ $0=+>14*4& &,1%+D$%&*.% )&, 0&14$1&&*+ %+0=+>1&@+ 9%&, >+*+ ).4$ *$14%& $*+ 0$*+N )4%+%+$ )+@&,+ &H=.%1$,1$d - >+%+ $1+,1&+ &H+)&$1 - =+%14%D$ (&,)4%&*+ - =+%14%D$ >.H=.%1$H+,14*3 N@&*&*/ +*?*&H'>/ H)?'I/?'/ >+ >.,)4>+ .%($,&0H4* >$1%+ $>1&@&1$1& )&%+>1&.,$1+ 0=%+ .=%&%+$ >&1 H$& %+=+)+ $ )4%+%&&3 ;$>$ 0+ &$ &, >$*>4* ).$% /.G*A?@C .*>Q)&'/C /C +@&*&'' 0& 0+ &(,.%$ /.G*A?@C /"*A?'IiI)C'?'IN $14,>& 0+ =&+%)+ 4,$ )&, *$,14%&*+ =.$1+ H$& $0>4,0+ $*+ )4%+%&&N )$% ,4 H$& =41&, &H=.%1$,1$3 ;4%+%+$ O&&,) @$G41$ &, (+,+%$* >$ =+%>+=1&+N >4 %+>4,.$01+%$ >.H=*+1$ $ +f=+%&+,1+& 1%+>41+ 0& $ &,O*4+,1+*.% >.(,&1&@+N 0+ 4&1$ )&H+,0&4,&*+ +& H.1&@$1&.,$*+ ‚"_ƒ3 5%+& &,1%+D$%& $% 1%+D4& 0$ (]&)+G+ +@$*4$%+$ >+*.% >+ $>4G$ )4%+%&N )4=$ >4H 0+ =%+>&G+$G$ &,1%'. ,*}. ;*??*& +* C/ 74!< +'> hqqed "3 2&1 )+ H$%+ +01+ *+G&4,+$ =$>&+,14*4& Q$O+>1$%+$ O&G&>$R ?3 2&1 )+ H$%+ +01+ $O+>1$%+$ )+1+%H&,$1$ )+ D.$*$ Q>&1 04O+%$ =$>&+,14* 0& )$>$ +01+ >$=$D&* 0$ &,1%+=%&,)$ $>1&@&1$1&*+ .D&0,4&1+R
"\b
S3 2.H=.%1$H+,14* =$>&+,14*4& +01+ >.%+0=4,G$1.% D.*&& 0$4 *+G&4,&& 0$*+ QP&H=1.H+*+ 0$*+ =$% $ O& $H=*&O&>$1+ )+ O$>1.%& =0&].0.>&$*&N H.1&@+ 0.>&$*+ 0$4 04,1 &,1+,1&.,$1 +f$(+%$1+R 8>+01+ +*+H+,1+ &'$4 )+1+%H&,$1 =+ #+*G$>j 0& 2$0+} 0$ $1%$($ $1+,1&$ $04=%$ >+*.% 1%+& )&H+,0&4,& H$k.%+ $*+ )4%+%&&d -
7#$").+1 2"0J/%(,1D !(#)%(4(0,.(; 7#$").+1 M/.(;,.(/0,1D7:").(; 7#$").+1 L/-0(.(;DF;,1+,.(;
6& $4 H$& )+=$%1+N 0401&,&,) &)++$ 0=+>&$*&G$1+N >$ $>+01+ )&H+,0&4,& $*+ +f=+%&+,1+& )4%+%.$0+ 04,1H+%0 04D.%).,$1+ 4,.% 0&01+H+ O&G&.*.(&>+ )+ *$ ,&@+* >+%+D%$*3 7#$").+1 2"0J/%(,1D !(#)%(4(0,.(; i +01+ &,O*4+,1$1 &, 0=+>&$* )+ .'.?*H@C .G'>/C A@ A)>+@A*&* &/G'+/3 7#$").+1 M/.(;,.(/0,1D7:").(;. >4 >.H=.,+,1$ 0$ ]+).,&>$N )4>+ *$ . /A?'I/&* >*&I)/./ *$ ,&@+*4* .?&@A?@&'C)& &*?'A@C/&* .' C'HK'A* &,O*4+,1$1+ &, 0=+>&$* &, .'.?*H* .G'>/C* A@ A)>+@A*&* C*>?/# 7#$").+1 L/-0(.(;DF;,1+,.(; i +01+ 04D >.,1%.*4* .'.?*H@C@' >*)A)&?'A/CN >$%+ G&)A*.*/Q/ '>")&H/?''C* =%&H&1+ &, 1+%H+,& )+ +f=+%&+,1$ 1%+>41$ 0& *U*&A'?/ A)>?&)C@C /.@G&/ /A?I'?/?'' +'.A&'H'>/?'I* ‚"_ƒ 841.%&& >.,0&)+%$ >$ $>+01+ ?&*' A/?*()&'' +* /A?'I'?/?* &,1+%$>1&.,+$G$ &,1%+ +*+N =+,1%4 $ $0&(4%$d -
5 (0:/%4,%" $"%)"$.+,1, ,#+$%, 1/),1(J,%((S ,4$1(.+*(0(( #( , $%/$%(".,.(1/% ."4$/%/#$,.(,1" ,1" #(#."4+1+( 0/)()"$.(; 5 ."0*(0., 4/.(;,.(/0,1,S )" "@$1(), ";/1+.(, #$%" :+-, #,+ ,.,) 5 (0:/%4,.(" )/-0(.(;,S B,J,., $" "@$"%("0., .%")+., #( $" $%/B,B(1(.,.", ";/1+.("( *"."%4(0,." *" $/#(B(1" #/1+.((T
5.$1+ >+*+ 1%+& >$1+(.%&& )+ $>1&@&1$1+$ =.1 &,O*4+,1$ +@.*41&$ %$0=4,04*4& *$ )4%+%+ $* 04D&+>14*4&3 ;76X4~1; 157;7o45 <0,521 N0!9270204 N120277 :, H4*1+ 0&14$1&&N =$>&+,14* >@i.' G)/?* (/.' A@I'>?*C* =+,1%4 $ )+0>%&+ )4%+%+$ =+ >$%+ . %+0&H1+3 8>+01 O+,.H+, +01+ *+($1 )+ )&O&>4*$1+$ ($0&%&& =+ H.H+,1 $ *+($14%&& &,1%+ >++$ >+ 0&H1+ 0& ,.1&4,+$ >+ ,4 $%+ >.%+0=.,)+,1$ &, H+H.%&$ &,)&@&)4$*$3 :, $>+01+ 0&14$1&& 04,1 41&*&G$1& ?*&H*>' G&*A@HV &@G*&*V ."'.'*&*V '>]@>(D*&*V '[email protected]/?@&/N )$% ,+$@&,) %+O+%&,1+ .D&+>1&@+ .D&0,4&1+ Q$0$ >4H 04,1+HN .D&0,4&1& >&,) >.H=$%$HRN >4@&,1+*+ ,+ =.1 =$%+$ $D04%)+N &%+$*+3 ;+ $>++$ 4,&& =$>&+,1& 41&*&G+$G$ +f=%+0&$ •A/ .' A'>+{ =+,1%4 $ 04D*&,&$ @+%D$* )+0>%&+%+$ +f=+%&+,1+& 0$*+ )4%+%.$0+ ‚"_ƒ3 :, $>+01+ >.,)&1&& $=$%+ >*A*.'?/?*/ H/.@&/&'' +@&*&''3 601+ &H=.%1$,1 0$ 01&H )$>$N &,1%'4, )&O+%&1& =$>&+,1& $4 )4%+%& $0+H$,$1.$%+N )$% 0& $>1&4,+$ 4,4& H+)&>$H+,1% 0& (%$)4*H.H+,1N )+ +O&>&+,1$3 <,$ )&, H+1.)+*+ >+* H$& O%+>@+,1 41&*&G$1+ +01+ .A/C/ +* (&/+/&*V +* *I/C@/&*#
!94;0;0 N0 0P4;1420 4 N120277 P>$*+*+ )+ +@$*4$%+ >4=%&,)d
"\Z
P>$*+ @+%D$*+ e P*&K/C 2/?'>( !A/C*. BP2!E e >4 (%$)+*+ )+ 40.%N H.)+%$1 0& 0+@+% P>$*+ ,4H+%&>+ ' ,@H*&'A 2/?'>( !A/C*. e )+ *$ " e "Y P>$*+ $,$*.(+ @&G&$*+ e P'Q@/C 4>/C)(@* !A/C*. BP4!E m#h#e#h !A/C/ P'Q@/C/ 4>/C)(/ BP4!E 8>+$01$ 0>$*$ =+%H&1+ . )+1+%H&,$%+ 0&H=*$N +O&>&+,1$ $ &,1+,0&1$1&& )4%+%&&N @?'C'Q/?/ C/&( $1&1 &, >+%>+1$%+N >&1 0& '> AC'>'A/N 4,)+ +*?*&H'>/&*/ &/G'+/ / +@&*&'' *.?* >*A*./&/V =+%H&1&,) .D1&,+%+$ 4,.% @$*.%& ,4H+%&>+ %+=%.)4>1&D&*+3 2+$ H$& 41&*&G$1$ O.%H$ )+ P4! A)>.?/ '>?&i) C'>'* +* hr AHV .%&G.,1$*$ 0$4 @+%1&>$*$ $@&,) *$ >$=+1+ ,.1$1&&*+ d U :,%, *+%"%"R *$ ,&@+*4* r 0& n *+%"%", )", 4,( 4,%"R *$ ,&@+*4* hr veyw# 9$>&+,14* +01+ &,01%4&1 ./ G@>/ @> .*H> G* C'>'*N $>.*. 4,)+ >.,0&)+%$ >$ 0'$% 0&14$ ,&@+*4* 0+,G$1&+& 0$*+ )4%+%.$0+3 N'.?/>?/ +* C/ A/G/?@C r *.?* I'Q@/C />/C)( /C +@&*&'' ./C* N 41&*&G$1$ >$ '>+*U >@H*&'A /C .*I*&'?/?'' +@&*&'' 3 P4! *.?* .*>.'K'C/ C/ G&)A*+@&'C* "/&H/A)C)('A* .' >*"/&H/A)C)('A*V >+ =.1 H.)&O&>$ +f=+%&+,1$ )4%+%.$0$N 0& .* A)&*C*/Q/ A@ H/.@&/?)&'C* )4%+%&& G* .A/C*C* I*&K/C* .' >@H*&'A* 3 :,01%4&%+$ =$>&+,1&*.% =+,1%4 $ (%$)$ 0$4 $ +@$*4$ &, =%.>+,1+ +*&H&,$%+$ )4%+%&& 41&*&G&,) g8P =.$1+ &,1%.)4>+ . 04(+01&+ ,+).%&1$ Q)+ +f+H=*4 ).%&,1$ )+ 0>]&HD$%+N =%+>4H 0& &H=$>14* H+H.%&+&RN >++$ >+ %+)4>+ @$*&)&1$1+$ H$04%$1.%&&3 <,&& $41.%& 04(+%+$G$ >$ . H$04%$1.$%+ H$& @$*&)$ $ H.)&O&>$%&*.% =.$1+ O& .D1&,41$ =%&, (&/+/&*/ +* A/?&* G/A'*>? $ >$,1&1$1&& $D0.*41+ )+ )4%+%+N &, )&O+%&1+ H.H+,1+ 1+H=.%$*+N &,$&,1+ 0& )4=$ &,1+%@+,1&+3 / &,1%+D$%+ O&%+$0>$ +01+ n2&1& H&*&H+1%& %+=%+G&,1$ )4%+%+$ H.)+%$1$M3 :, H$%+N @> .A)& G*.?* er HH G* .A/C/ P4! $% >.%+0=4,)+ +@&*&'' H)+*&/?* )+ =+ 0>$*$ >$1+(.%&&*.%N +* -
G/?&@ G@>A?*# :, "XXX 0'$ 04(+%$1 41&*&G$%+$ 4,4& • A/&>*? /C +@&*&''{ G*>?&@ G/A'*>?'' A@ A/>A*& N 41&*&G&,) . 0>$*$ ,4H+%&>$ )+ *$ Y'"YN ,4H&1 <&*.*>? '> 7>?*>.'?- !A)&*# <1&*&G$%+$ $>+01+& H+1.)+ +01+ $=%+>&$1$ =%&, O$=14* >$ 0+ )$1.%+$G$ >.H=*&$,1+& >+ $=$%+ *$ =$>&+,1&& >+ >.H=*+1+$G$ >$%,+14*N >.H=*&$,1$ >+ @$%&$G$ &, >4%04* G&*+&N )$% 0& =+ =+%&.$)+ H$& H$%& )+ 1&H=3 8I/>?/]* /C* P4! >$ H$04%$ $ &,1+,0&1$1&& 0+,G.%&$*+ $ )4%+%&&d G&)G&'*?/?*/ *' +* &/G)&?/&*V A)HG/&/?'I >4 $*1+ H+1.)+ )+ H$04%$%+ 404%&,1$ )+ $ . 41&*&G$ 0& )+ .D1&,+%+ $ 0>.%4*4& &,@$G&@&1$1+ H&,&H$ 0&H=*&1$1+ >.,>+=14$*$ >+'& $0&(4%$ 404%&,1$ &, &,01%4&%+$ =$>&+,14*4&3 N*Q/I/>?/]@C $*+ g8Pd - >.,>+=+%+$ 4,&)&H+,0&.,$*$ $ )4%+%&& - &,1+,0&1$1+$ +01+ 4,$ )&, *$14%&*+ &H=.%1$,1+ $*+ )4%+%&& )$% 1+%H+,4* )+ n )4%+%+M • • • •
&H=*&>$ )&@+%0+ >$*&1$1&3 J&+>$%+ $%+=.01.=+%$1.%&+N &,0$ >$*&1$1& 4,&>+3 24 1.$1+ )+G$@$,1$k+*+ )+0>%&0+N &,)4%+%+ =+%&.$)$ $>+$01$ H+1.)$ +01+ >+* H$& )+0 41&*&G$1$N '/& '> T&/>?/N =%&,1%'. >&%>4*$%$ )&, hqqyV 6'>'.?*&@C !/>/?/?'' %+>.H$,)$ 41&*&G$%+$ $>+01+& 0>$*+ >$ H*?)+/ +* *I/C@/&* +* &*"*&'>?/ &, 4,&1$1& 0$,&1$%+ ‚"_ƒ3 5.1 =+ D$G$ $>+01+& 0>$*+ )+ +@$*4$%+ 0+ &,)&>$ H/.@&/&*/ +@&*&'' G/A'*>?@C@' '> A/+&@C @>@' /C()&'?H +* G&*C@/&* / G/A'*>?@C@' +* C/ '>?*&>/&* 0& >$%+ @$ O& *I/C@/? +*
"\_
/.'.?*>?/ H*+'A/C/V /G)' +* H*+'AN +*+H+,1+ >+ @.% O& 1%+>41+ &,1%'4, •A/&>*? +* +@&*&*{ >$%+ @$ =%+G+,1$d +@.*41&$ )4%+%&& - +@.*41&$ 04D 1%$1$H+,1 - (%$)4* )+ 0$1&0O$>+%+ $ ,+@.&*.% =$>&+,14*4& =+ =$%>4%04* 0=&1$*&G$%& <, 014)&4 )&, "XXX $ @+%&O&>$1 H.)4* )+ +@$*4$%+ $ )4%+%&& &, *+($14%$ >4 014)&&*+ )+ +O&>&+,1$ $ )&O+%&1+*.% $,$*(+G&>+N >&,) 0+ 41&*&G+$G$ 0>$*$ g8P 0& 9$&, 7+*&+O P>.%+3 841.%&& $%$1$ H.)&O&>$%+$ &,1+%=%+1$%&& &, 1&H= *+($1 )+ $ ).4$ 0>$*$N >++$ >+'& )+1+%H&,$ 0$ 04(+%+G+ 41&*&G$%+$ ).$% $ =%&H+& 0>$*+ =+,1%4 >4$,1&O&>$%+$ &,1+,0&1$1&& )4%+%.$0+ >+ 0+ =.$1+ H.)&O&>$ 04D 1%$1$H+,13 P4,1 014)&& >+ =%+G&,1$ $%(4H+,1+ G*>?&@ @?'C'Q/&*/ H*+'*' )K?'>@?* +@G/ H/' H@C?* *I/C@/&' &,1%'4, 1&H= )$1 $ =$>&+,1&*.% >4 )4%+%+ >%.,&>$3 8>+$01$ H+)&+ 0+ $%$1$ >$ O&&,) . +@$*4$%+ H4*1 H$& >%+)&D&*$ 0& H$& @$*&)$ >.H=$%$1&@ >4 . 0&,(4%$ H$04%$%+ ‚"_ƒ3 :, >$G4* =$>&+,1&*.% )&, 9C'>'A/ +* [*H/?)C)('* /C 7>.?'?@?@C@' 2*(')>/C +* [*H/?)C)('* 7/.'V *I/C@/&*/ .' H/>/(*H*>?@C +@&*&'' %+=%+G&,1$ 4,4* )&, .D&+>1&@+*+ $0&01+,1+& H+)&>$*+ >.H=*+f+3 6@$*4$%+$ )4%+%&& 0& 1%$1$H+,14* $>+01+&$ =%+04=4,$ =$%1&>&=$%+$ 4,+& *AD'G* H*+'A/C* )&, >$%+ O$>+ =$%1+d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d "3 0I/C@/&*/ '>?*>.'?/?'' .' / A/&/A?*&'.?'A*C)& +@&*&' N >$%+ &,>*4)+d $3 :01.%&> D3 2$%$>1+%&G$%+$ $>14$*$ $ )4%+%&& >3 5%$1$H+,14* +O+>14$1 l# 0U/H*>@C AC'>'A e# 0I/C@/&*/ A)>.*A'>?*C)& G'D).)A'/C* /C* +@&*&'' m# 0U/H*>* G/&/AC'>'A* :, =%+G+,1$ *4>%$%+ 04,1 +f=40+ >&1+@$ >$G4%& >*&,&>+ ]+H$1.'.,>.*.(&>+ 04(+01&@+ &, >$%+ G&*Q*>?/ +@&*&'' &*G&*Q'>?/ 4, $0=+>1 >*&,&> &H=.%1$,1N 4,+.%& ).H&,$,1N O&+>$%+ )&,1%+ $>+01+$ O&&,) >.H+,1$1+ )&, =4,>1 )+ @+)+%+ $* +@$*4$%&&N H.,&1.%&G$%&& 0& 1%$1$%&& )4%+%&&3
"\a
94o127 9;7,790 94o 9;7,79 h 4#;#V G/A'*>?/ W> Ip&.?F +* eh />'V )&, H+)&4* %4%$*N *4$1F B, +@&)+,[$ >*&,&>&& B, ?YYX >4 )&$(,.01&>4* )+ `.$*$ l.)(j&, =+,1%4 >$%+ $ 4%H$1 H$& H4*1+ *&,&& )+ >]&H&.1+%$=&+ OF%F .D[&,+%+$ %+H&0&4,&& D.*&&3 6)?'I*C* '>?*&>F&''d - >4 01$%+ (+,+%$*F (%$@FN .A)& +* G*&")&H/>?/ 093% e Q>$=$D&* ,4H$& 0F 0+ B,(%&k+$0>F 0&,(4% )$% *&H&1$1N =%+O+%F =.G&[&$ )+ >*&,.01$1&0HN %FHA,+ B, =$1N H$& H4*1 )+ ZY{ )&, =+%&.$)$ )+ =+01+ G&R ‚"\ƒ3 - O+D%F SX. 2 OF%F %F0=4,0 *$ $,1&D&.1&>+N - 0>F)+%+ =.,)+%$G$ H$%>$1$ &, 4*1&H+*+ ? *4,& Q=+01+ "Y j(RN - 1%$,0=&%$[&& ,.>14%,+N - &,$=+1+,[FN - (%+[4%&N - @F%0F14%&N - +@&*&' /K+)H'>/C* +'"@Q* G&*+)H'>/>? W> *?/]@C .@G*&')& i D'G)A)>+&@C +&*G?V - +@&*&' ).)/.* '>?*>.*3 - +)+H+ (+,+%$*&G$%+N - &>1+% 0>*+%.1+(4H+,1$% 7.?)&'A i =$>&+,1$ +01+ )&$(,.01&>$1F )&, ?YYX >4 `.$*$ l.)(j&,N $ 4%H$1 S *&,&& )+ >]&H&.1+%$=&+ v %$)&.1+%$=&+ >4 %F0=4,04%& =$%[&$*+ ^& %++@.*4[&+ =%+>.>+3 ;+ ? *4,& +@.*4[&+ ,+O$@.%$D&*F ).H&,$1F )+ )4%+%& .0.$0+ ^& $D).H&,$*+ =*40 O+D%$ ^& 0&,)%.H )&0=+=1&> D&*&$%3 -$ ).H&>&*&4N &,1+,0&1$1+$ )4%+%&& *I/C@/?F G* .A/&/ P4! g H)+*&/?FV 4%H+$GF 1%$1$H+,1 >4 G/&/A*?/H)C €Ri ?&/H/+)C hAG nr H( U lie G* Q'# 0U/H*> AC'>'A C/ '>?*&>/&*^ - )&0=,++ >4 .%1.=,++ - +)+H+ H$%& $*+ +f1%+H&1F[&*.% e H+HD%+ &,O+%&.$%+ ^& 04=+%&.$%+ - =$*.$%+ ^& &>1+% 0>*+%.1+(4H+,1$% - O+D%F - 58 \Yr_Y HHl( - /*&(4%&+ - 8D).H+, HF%&1 )+ @.*4HN +@&*&). C/ G/CG/&*V >4 H$0+ 14H.%$*+ =$*=$D&*+ B, H+G.($01%4N ]+=$1.'0=*+,.H+($*&+ - N@&*&* /K+)H'>/CF .G)>?/>FV /AA*>?@/?/ +* G/CG/&*V *I/C@/?F G* .A/C/ P4! g H)+*&/?i.*I*&F BfRhrE -
N@&*&' /C* *I/C@/?F )/.*C)& G* K/Q'>@C@' .?*&>@C@' BfRhrE .G)>?/>* /AA*>?@/?* +* H)K'C'Q/&*V .A/C/ P4!.'g H)+*&/? 9$>&+,1$ +01+ $,f&.$0FN >4 &,0.H,&+r0.H, >4 %&1H $O+>1$1
X')C)('A^ -
8,+H&+ QlD_(r)*RN 5%.HD.>&1.=+,&+ Q5%SYYYYrHH>RN T+41%.=+,&+ Q9T ""YYrHH>RN &,O&*1%$1 H+)4*$% aZ{ >+*4*+ *&HO.&)+ H$14%+ 0& 1&,+%+ l&=.$*D4H&,+H&+ Q$*D4H&,$?(r*R
"\\
l&=+%D&*&%4D&,+H&+ Q`&* 1.1$*$SH(r)*N `;?N_H(r)*R ' >.*+01$G$ -;l >%+0>41 Q-;l"?YY4&r*RN l&=+%4%&>+H&+ Q$> 4%&>\N? H(r)*R 7+1+,[&+ $G.1$1F H.)+%$1F Q4%++ aYH(r)*N >%+1&,&,$ "N_ H(r)*R 2&1.*&G$ ]+=$1&>$ Q5L/ _Y4&r*N 5L9 "?Y4&r*R P$14%$[&+ B, .f&(+, $ 0A,(+*4& $%1+%&$* P/? \\{ 0U/H*> G/&/AC'>'A^ - 0A)(&/"'* /K+)H'>/CF e H/.* /+*>)G/?'A* .%($,&G$1+ B, D*.>4%& >4 -
-
)&$H+1%4* H$f )+ bY HH *.>$*&G$1+ B, ]&*4* ]+=$1&> ^& &,1+%$.%1&>.>$@ 2/+')(&/"'* ?)&/A'A/ /+*>)G/?'A* H*+'/.?'>/C* e KC)A@&' >4 )&$H+1%4* H$f&H )+ bZ HH
N'/(>).?'A - X)/C/ [)+(`'> A@ A*C@C/&'?/?* H'U?/ .? 7P X &**I)C@S'* N'/(>).?'A@C *?')C)('A .' AC'>'A /C +@&*&''^ - !+%"%" ;(#)"%,1> 4/*"%,. 0+>4,)$%F >.H=%+0&4,&*.% H$0+*.% $)+,.=$1&>+ )&, ]&*4* ]+=$1&>3 - !+%"%" #/4,.()> 4/*"%,. #";"%> e 0+>4,)$% )+1+%H&,F%&& H+)4*$%+ $ >+*4*+& 14H.%$*+ 5&/?/H*>? - 9D'H')?*&/G'* G/C*/?'I/ 1&= %*HQ/& € P'>)&*CK'K/ € N*U/H*?/Q)>/ - 5&/?/H*>? +* .@K.?'?@?'*^ #6 ' H$0$ +%&1%.>&1$%$N 25Pr25< ' >.,>+,1%$1 1%.HD.>&1$% 01$,)$%r4,&1$% N $*D4H&,$ 4H$,$ -
-
9'?)G&)?*A?'* D*G/?'A/d 8%(&,&,$N g&1$H&,.1+%$=&+ e g&13 `"N `_ ,@?&'S'* G/&*>?*&/CFd 8H&,.@+,N •$D&@+,N ['+&/?/&* G/&*>?*&/CF "ZYY H* rG&d 0.*4[&& )+ (*4>.G$ Z{ 5*&/G'/ +@&*&'' ^ ! 5&/H/+)C hrr H(RQ' &,1%$@+,.0 QZYH(f?R B?&*/G?/ 77 36!E g +@$*4$%+$ &,1+,0&1$1&& )4%+%&& 04D 1%$1$H+,1 =+ G/&A@&.@C ?&/?/H*>?@C@' .A)& P4! nifRhr ! 6)&"'>/ hr H( U m G* Q' 04D>41$,$1 B?&*/G?/ 777 36!E ! %/K/G*>?'> mrr H( U l RQ' QH+)&>$1&+ =$%$$,$*(+G&>$R 3U'(*>)?*&/G'* =+ H$0>$r0.,)$ ,$G$*$ 7+(&H $*&H+,1$% ]+=$1&> #.D&*&G$%+ G&*,&>$ P>]&HD$%+ =+%&.)&>$ $ =.G&1&+& &, =$1 :(&+,F >.%=.%$*F $0&01$1F )+ =+%0.,$*4* H+)&>$* H+)&4
- 90&].1+%$=&+ 0I)C@S'* .@K ?&/?/H*>? - )4%+%&*+ 04,1 ,+>.,1%.*$1+ )+ 1%$1$H+,14* >4 1%$H$).*N 0+ $)$4(F H+)&>$[&+ )+ 1%+$=1$ ::: /#P - 01$%+ (+,+%$*$ 0+ $*1+%+$GF 1%+=1$1N - $,f&+1$1+$ 0+ $>>+,14&$G$N )+>*$%$1&@ )4%+%+$ +01+ ,+>.,1%.*$1$
"\X
+)+H+*+ H+HD%+*.% &,O+%&.$%+ ^& 04=+%&.$%+ 0+ $H+*&.%+$GF O.$%1+ =4[&, =$%$H+1%&& ]+H$1.*.(&>& >.%+>1$[& H.)+%$1 >4 1%$1$H+,14* )+ 04D01&14[&+ >4 =%.)40+ )+ 0A,(+ 9)>+'S'' +* *U?*&>/&* g =$>&+,1$ 0.*&>&1F +f1+%,$%+$ 2*A)H/>+F&' C/ *U?*&>/&* - B,(%&k&%+ ^& 04=%$@+(]+%+ B, H+)&4* O$H&*&$* - ?&/?/H*>? A@ 65!iA)>?'>@. BH)&"'>/ .@C"/?E fr H( U e G* Q' v *$>14*.G$ " *&,(4%&[F 0+$%$ -
%+(&H $*&H+,1$% )+ >%4[$%+ ]+=$1&>FN D.($1 B, O&D%+ +@&1$ +f=4,+%+$ *$ &,1+H=+%&& ^& >.,1$>1+ &,O+>[&.$0+ &?'A@C/&'?/?*/ A/Q@C@' g G/A'*>?/ ?*&H'>/CFN %+O%$>1$%F *$ 1%$1$H+,1N >4 O+,.H+,+ )+ .'>+&)H ?@H)&/C e &,@$G&+ 14H.%$*F H+)4*$%F B+@&*&' ).)/.*V G/>A'?)G*>'*EV 0&,)%.H )+ A)HG&*.'@>* ?@H)&/CF )+ ]&* ]+=$1&> Q&>1+%N >&1.*&G$ ]+=$1&>$N )4%+%&R ^& H*+'/.?'> Q)&0O4,>[&+ @+,1&*$1.%&+RN .'>+&)H A/?/K)C'A ?@H)&/C# -
94o 9;7,79 l X#6#V G/A'*>?/ W> Ip&.?F +* xx />'V )&, H+)&4* %4%$*N B, +@&)+,[$ >*&,&>&& )&, ?YYX >4 )&$(,.01&>4* )+ -#Tl >4 >+*4*$ H$%+ `3 6)?'I*C* '>?*&>F&''^ - >4 01$%+ (+,+%$*$ (%$@FN >$^+>0&+N >4 01$%+ (+,+%$*F (%$@FN .A)& +* G*&")&H/>SF 093% m Q,4 +01+ >$=$D&* 0F 0+ B,(%&k+$0>F 0&,(4%N %FHA,+ B, =$1 =+ 1.$1F =+%&.$)$ G&*+&R ‚"\ƒ3 - :,$=+1+,[F - O+D%$ SX. 2 OF%F %F0=4,0 *$ $,1&D&.1&>+N - 1%$,0=&%$[&& ,.>14%,+ - )4%+%& .0.$0+ (+,+%$*&G$1+ - $)+,.=$1&& $f&*$%+ ^& *$1+%.>+%@&>$*+ >4 )&$H+1%4* H$f&H bYHH - $,f&+1$1+N &,0.H,&+N 01F%& >.,O4G&@+ 7.?)&'A ' =$>&+,1$ +01+ )&$(,.01&>$1F )&, ?YYX >4 ;6,[ A@ A*C@C/ H/&* XV $ 4%H$1 ? *&,&& )+ >]&H&.1+%$=&+ 1&= 2l/9 ^& 2g8; >4 %F0=4,04%& =$%[&$*+ ^& %++@.*4[&+ =%+>.>+3 C, ?Y"Y +01+ )&$(,.01&>$1F >4 4, $* ).&*+$ >$,>+%N A/&A'>)H +* G'&/H'+F >/Q/CF >4 &,@$G&+ B, PT2 >4 >+O$*++ ^& 14*D4%F%& =0&]&>+3 9+ =+%&.$)$ 1%$1$H+,14*4& )&, >+*+ ? *&,&& 2l5 =$>&+,1$ $ =%+G+,1$1 )4%+%& .0.$0+N &,1+,0&1$1+$ )4%+%&& *I/C@/?F G* .A/&/ P4! g @J)/&/iH)+*&/?F N 1%$1$H+,1 >4 `*?)>/C nr H( U l G* Q'V @C?*&')& A@ ?&/H/+)C nr H( U l G* Q' # ;+ S *4,& +@.*4[&+ ,+O$@.%$D&*F ).H&,$1F )+ )4%+%& .0.$0+ )&O4G+N O+D%FN 1%$,0=&%$[&& ,.>14%,+N &,$=+1+,[FN %+$=$%&[&$ )+ H$0+ $)+,.=$1&>+ *$1+%.>+%@&>$* ^& $f&*$%3 0U/H*> AC'>'A C/ '>?*&>/&*d -
>4 01$%+ (+,+%$*F (%$@FN .A)& +* G*&")&H/>?/ 093% m B&,>$=$D&* 0F 0+ B,(%&k+$0>F 0&,(4%N %FHA,+ B, =$1 1.1 1&H=4* G&*+&R‚"\ƒ O+D%$ 58 XYr_Y HHl( 9$*.$%+ 0>*+%.'1+(4H+,1$%$
"XY
8)+,.=$1&& *$1+%.>+%@&>$*+ ^& $f&*$%+ >4 )&$H+1%4* H$f&H )+ bY HHN .%($,&G$1+ B, D*.>4%&3 - ;4%+%& $*+ .$0+*.% )&O4G+ $>>+,14$1+ )+ H.D&*&G$%+N *I/C@/?/ G* .A/C/ P4! g H)+*&/? BxRhrE - 9$>&+,1$ +01+ $,f&.$0FN >4 &,0.H,&+r0.H, >4 %&1H $O+>1$1N 4^.% >.,O4GF X')C)('A^ - 8,+H&+ QlD"Y(r)*RN 5%.HD.>&1.=+,&+ Q5%XYYYYrHH>RN T+41%.=+,&+ Q9T ""YYrHH>RN &,O&*1%$1 H+)4*$% aZ{ >+*4*+ *&HO.=*$0H.>&1+ -
gPlaYHHr] l&=.$*D4H&,+H&+ Q$*D4H&,$?NZ(r*R -;l >%+0>41 Q-;lXYY4&r*RN l&=+%4%&>+H&+ Q$> 4%&>\NX H(r)*R 7+1+,[&+ $G.1$1F H.)+%$1F Q4%++ XYH(r)*N >%+1&,&,$ ? H(r)*R3 0U/H*> G/&/AC'>'A^ - 95 ?)&/A)i/K+)H'>/C e $)+,.=$1&& H+)&$01&,$*+ )+ SY HHN H$0+ $)+,.=$1&>+ .%($,&G$1+ B, D*.>4%& >4 )&$H+1%4* H$f )+ bY HH &,1+%$.%1&>.>$@ - X')G.'/ (/>(C')>/&/ )&, ($,(*&., $f&*$% e *&HO.H *&HO.=*$0H.>&1&> N'/(>).?'A - -#Tl >4 >+*4*$ H$%+ ` %++@.*4[&+ >4 *&HO.=*$0H.>&1+ 01 :g ` N'/(>).?'A@C *?')C)('A .' AC'>'A /C +@&*&''^ - !+%"%" #/4,.(), H.)+%$1'0+@+%F e 0+>4,)$% )+1+%H&,F%&& H+)4*$%+ $ >+*4*+& 14H.%$*+ -
5&/?/H*>? - 9D'H')?*&/G'* G/C*/?'I/ 1&= 8*+f$, v 8*j+%$, v 9%+),&0., - 5&/?/H*>? +* .@K.?'?@S'*d #6 ' H$0$ +%&1%.>&1$%$N $*D4H&,$ 4H$,$ - T41%&[&+ =$%+,1+%$*Fd 8H&,.@+,N •$D&@+,N - l&)%$1$%+ =$%+,1+%$*F "ZYY H* rG&d 0.*4[&& )+ (*4>.G$ Z { - 5*&/G'/ +@&*&'' d ! 5&/H/+)C hrr H(RQ' '>?&/I*>). BhrH(UlE B?&*/G?/ 77 36!E e +@$*4$%+$ &,1+,0&1$1&& )4%+%&& 04D 1%$1$H+,1 =+ =$%>4%04* 1%$1$H+,14*4& .A)& P4! fi xRhr ! 6)&"'>/ hr H( U m G* Q' .@KA@?/>/? B?&*/G?/ 777 36!E ! %/K/G*>?'> bYY H( f ? rG& QH+)&>$1&+ =$%$$,$*(+G&>$R ! 9/&K/H/Q*G'> ?YYH( f ? =+ G& - /f&(+,.1+%$=&+ )+ H$0>$r0.,)$ ,$G$*$ - 7+(&H $*&H+,1$% ]&=+%>$*.%&> -
#.D&*&G$%+ G&*,&>$ 9%+@+,&%+$ +0>$%+*.% ' 0>]&HD$%+ =+%&.)&>$ $ =.G&1&+& &, =$1 :(&+,$ >.%=.%$*$ $0&01$1$ )+ =+%0.,$*4* H+)&>$* H+)&4 #.,&1.%&G$%+ =+%&.)&>$ $ &,1+,0&1$1&& )4%+%&& 90&].1+%$=&+
"X"
0I)C@S'* .@K ?&/?/H*>? - )4%+%&*+ 04,1 ,+>.,1%.*$1+ )+ 1%$1$H+,14* >4 1%$H$).*N .* /+/@(/ H*+'A/S'* +* ?&*/G?/ 777 36! - 04D 1%$1$H+,1 >4 H)&"'>/V (/K/G*>?'> J' A/&K/H/Q*G'> '>?*>.'?/?*/ +@&*&'' *I/C@/?/ G* .A/C/ P4! g H)+*&/? BeRhrE - 01$%+ (+,+%$*$ 0+ $H+*&.%+$G$ 1%+=1$1N - =$%$H+1%&& ]+H$1.*.(&>& >.%+>1$[& H.)+%$1 >4 1%$1$H+,14* )+ 04D01&141&+ >4 =%.)40+ )+ 0A,(+ 9)>+'S'' +* *U?*&>/&*^ - $H+*&.%$%+$ 01$%&& (+,+%$*$N - $H+*&.%$%+$ =$%$H+1%&*.% ]+H$1.*.(&>& 0& D&.>]&H&>& - >.,1%.* %+*$1&@ .=1&H $* )4%+%&& &?'A@C/&'?/?*/ A/Q@C@' e =$>&+,1$ >4 ;6,[ A@ &**I)C@S'* A@ /C?F ")&HF A*C@C/&F /(&*.'IFN >$%+ $ OF>41 ^& . $*1F O.%HF )+ >$,>+% B, =+%&.$)$ )+ +@.*4[&+ $ *&HO.H4*4& Q>$%>&,.H )+ D$G$ )+ >%$,&4RN >4 O+,.H+,+ )+ 0&,)%.H 14H.%$* e &,@$G&+ 14H.%$*$ H+)4*$%F Q+@&*&' ).)/.*V =$,>&1.=+,&+RN 0&,)%.H >$1$D.*&> 14H.%$*3 6@.*4[&$ &,1+,0&1F[&& )4%+%&*.% )+ *$ O.%H$ 4^.$%F'H.)+%$1F *$ H.)+%$1 0+@+%F >$%+ $ ,+>+0&1$1 '>?&)+@A*&*/ />/C(*?'A*C)& +'> ?&/G?/ 777 36! 94o 9;7,79 e 9#7V G/A'*>? W> Ip&.?F +* xr />' N )&, H+)&4* 4%D$,N B, +@&)+,[$ >*&,&>&& B, ?Y"Y >4 )&$(,.01&>4* P#; 1&= 876`N 04D 1%$1$H+,1 )+ 04D1&141&+ >4 H$0$ +%&1%.>&1$%$ =+%&.)&> Q=$%.f&H$1&@ *$ S 0$=1$H& ,&R 0& 1%$1$H+,1 >]+*$1.% ' ;+O+%$0&%.f ZYY H(f ? =+ G& 6)?'I*C* '>?*&>/&''d - >4 01$%+ (+,+%$*$ (%$@$N .A)& +* G*&")&H/>?/ 093% e Q>$=$D&* 0$ 0+ &,(%&k+$0>$ 0&,(4% )$% *&H&1$1N =%+O+%$ =.G&1&$ )+ >*&,.01$1&0HN %$H&,+ &, =$1N H$& H4*1 )+ ZY{ )&, =+%&.$)$ G&*+&RN ‚"\ƒ3 - $01+,&+ H$%>$1$N )&0=,++N =$*=&1$1&& - O+D%$ SX. 2 O$%$ %$0=4,0 *$ $,1&D&.1&>+N - 0>$)+%+ =.,)+%$G$ H$%>$1$ &, 4*1&H$ *4, Q=+01+ "Y j(RN - 1%$,0=&%$1&& ,.>14%,+N - &,$=+1+,1$N - )4%+%& .0.$0+ &,1+,0+3 - +)+H+ H+HD%+ &,O+%&.$%+N 7.?)&'A ' =$>&+,14* +01+ )&$(,.01&>$1 )&, ?Y"Y >4 P#; 1&= 876`3 8 4%H$1 1%$1$H+,1 )+ 04D01&141&+ >4 H/./ *&'?&)A'?/&/ C/ "'*A/&* e ./G?/H'>' 04=*&H+,1$1N &, O4,>1&+ )+ @$*.%&*+ O+%&1&,+&N >4 >]+*$1.% e 0c~4N0 BN*"*&/.'&')UE nrr H( U l G* Q'# ;4=$ ? $,& )+ +@.*41&+N $=$%+,1 >.,01$,1$ 0& >4 01$%+ (+,+%$*$ %+*$1&@ 0$1&0O$>$1.$%+' !A)& +* G*&")&H/>?/ 093% hil Q%+01%&>1&.,$1$ $>1&@&1$1+$ O&G&>$ &,1+,0$N =.$1+ 0$ 0+ =%+G&,1+ 0&,(4% &, $HD4*$1.%R ' %+@&,+ >4 $01+,&+ O.$%1+ H$%>$1$N )&0=,++N +)+H+ $*+ H+HD%+*.% &,O+%&.$%+N O+D%$N 1%$,0=&%$1&& ,.>14%,+N +@&*&' )/.* K/Q'> .' A)C)/>/ *I/C@/?* G* .A/&/ P4! g H)+*&/?*V %+*$1&@ 0$1&0O$>$1.% >.,1%.*$1+ )+ 5&/H/+)C nr H( U l G* Q' B?&*/G?/ 77 36!E
"X?
0U/H*> AC'>'A C/ '>?*&>/&*^ - $01+,&+ H$%>$1$N )&0=,++ - +)+H+ $*+ H+HD%+ &,O+%&.$%+ - =$*.$%+N &>1+% 0>*+%.1+(4H+,1$% - O+D%$ - 58 "YYr_Y HHl( - N@&*&' )/.*C)& +* K/Q'> .' A)C)/>/ *I/C@/?* G* .A/C/ P4! g H)+*&/?* BfRhrE - ;*Q'@>' @A*&)i>*A&)?'A* *$ ,&@+*4* >.$1+*.%N +@&*&)/.* *I/C@/?* G* .A/&/ P4! g +@&* H)+*&/?/ BmRhrE X')C)('A^ - 8,+H&+ QlDZ(r)*RN 5%.HD.>&1.=+,&+ Q5%"ZYYYrHH>RN T+41%.=+,&+ Q9T "YYYrHH>RN D*$01& _Y{ =+ JP9N &,O&*1%$1 H+)4*$% aZ{ D*$01& - l&=.$*D4H&,+H&+ Q$*D4H&,$?NS(r*R - -;l >%+0>41 Q-;l"ZYY4&r*RN - l&=+%4%&>+H&+ Q$> 4%&>\ H(r)*R - 7+1+,1&+ $G.1$1$ H.)+%$1$ Q4%++ _ZH(r)*N >%+1&,&,$ "Nb H(r)*R - 2&1.*&G$ ]+=$1&>$ Q5L/ ZZ4&r*N 5L9 aY4&r*R N'/(>).?'A - P#;N -+4>+H&+ $>41$ H&+*.D*$01&>$ 0+>4,)$%$ N'/(>).?'A@C *?')C)('A .' AC'>'A /C +@&*&''^ - !+%"%" #/4,.(), 4/*"%,. e )4%+%& .0.$0+ 0+>4,)$% +f=$,0&4,&& D*$01&>+ H+)4*$%+3 - !+%"%" #/4,.(), 4/*"%,. e *$ ,&@+*4* *+G&4,&*.% 4*>+%.',+>%.1&>+ >.1 D&*$1+%$* 5&/?/H*>? - 9D'H')?*&/G'* =%.1.>.* nSvaM 2}1.G$% v #&1.f$,1%.,$ - 5&/?/H*>? +* .@K.?'?@?'*^ #6 ' H$0$ +%&1%.>&1$%$N 25Pr25< ' >.,>+,1%$1 1%.HD.>&1$% 01$,)$%r4,&1$% N $*D4H&,$ 4H$,$ - 4>?'K')?*&/G'* >4 0=+>1%4 *$%( Q&,>*40&@ $,1&@&%$*+N $,1&O4,(&>+R - ,@?&'?'* G/&*>?*&/C/^ 8H&,.@+,N •$D&@+,N - ['+&/?/&* G/&*>?*&/C/d "ZYY H* rG&d 0.*41&& )+ (*4>.G$ Z{ - 5*&/G'/ +@&*&''d ! 5&/H/+)C "YY H(f ?rG& &,1%$@+,.0 B?&*/G?/ 77 36!E e +@$*4$%+$ &,1+,0&1$1&& )4%+%&& 04D 1%$1$H+,1 =+ =$%>4%04* 1%$1$H+,14*4& 04D 5%$H$).* .A)& P4! lieRhrV 4*1+%&.%N =+ =$%>4%04* +@.*41&+& $=*$G&+& H+)4*$%+ =.01>]&H&.1+%$=&+ $=$% )4%+%&*+ 0+>4,)$%+ H4>&1+& (% :::N )4%+%& )+ &,1+,0&1$1+ 0+@+%$ .A)& P4! xRhr .' .* ?&*A* C/ ! !
-
6)&"'>/ "Y H( f b =+ G& 04D>41$,$1 B?&*/G?/ 777 36!E %/K/G*>?'> bYY H( f ? rG& QH+)&>$1&+ =$%$$,$*(+G&>$R %/&(/&/ A@ U'C'>/ hu € AC)&D*U'+'>/€K'A/&K)>/? +* .)+'@ 9$,0$H+,1 *.>$* >4 $,1&0+=1&>+ $* *+G&4,&*.% 4*>+%.0+ )+ *$ >.1 8,1&1+%H&>+ e 9+%O$*($,N 8*(.>$*H&,
"XS
7+(&H $*&H+,1$% ]&)%&>N O$%$ 0$%+ &,&1&$*N $=.& =$0$1$ 0& 1%$1$1$ 1+%H&> &, =+%&.$)$ $=*$G&+& 0& ,+41%.=+,&+& O+D%&*+ - #.D&*&G$%+ G&*,&>$ - P>]&HD$%+ =+%&.)&>$ $ =.G&1&+& &, =$1 - :(&+,$ >.%=.%$*$ $0&01$1$ )+ =+%0.,$*4* H+)&>$* H+)&4 - 90&].1+%$=&+ - 9$>&+,14* +01+ &G.*$1 &, %+G+%@$N 04=%$@+(]+1 =+%H$,+,1N58N =4*0N 1+H=+%$14%$ 0I)C@?'* .@K ?&/?/H*>? -
$=*$G&$ 0+ &,01$*+$G$ %$=&) )4=$ 2l5$=*$G&+& d $=$% %$=&) >.H=*&>$1&&*+ 0+>4,)$%+ ! H@A'?/ (& 777 /.)A'/?/ A@ *+%"%" ;(#)"%,1, #";"%, >$%+ ,+>+0&1$ /+/@(/&*/ H)&"'>*' =+,1%4 >.,1%.*4* )4%+%&&q )4%+%&*+ 0+ %+)4> &, &,1+,0&1$1%+ =+ H$04%$ >+ *+G&4,&*+ H4>.$0+ 0+ @&,)+>$ B.A/+* +* C/ yRhr *$ hRhr P4!EN H.1&@ =+,1%4 >$%+ .* &*>@>?/ C/ H)&"'>/ .' .* &*I'>* C/ ?&/H/+)C ! ,*@?&)G*>'* "*K&'C/ - 01$%+ (+,+%$*$ 0+ $*1+%+$G$ 1%+=1$1N $=*$G&$ =+%0&1$ O$%$ &+0&%+ N 0+ O$> ).$% >.%+>1&& >4 04D01&14&1&+ >4 =%.)40+ )+ 0&,(+d #6N 25Pr25< - 01$1404* =0&]&> $* =$>&+,14*4&0+ $*1+%+$G$ e )+@&,+ $,f&.0N O$>+ $1$>4%& )+ =$,&>$ >4 0$*14%& 1+,0&.,$*+ 0& O+,.H+,+ )+ +)+H =4*H.,$% $>41 - +)+H+*+ H+HD%+*.% &,O+%&.$%+ 0& 04=+%&.$%+ 0+ $>>+,14&$G$ 9)>+'?'' +* *U?*&>/&* g =$>&+,14* 0.*&>&1$ +f1+%,$%+$ -
2*A)H/>+/&' C/ *U?*&>/&* - &,(%&k&%& =$*+$1&@+ &, H+)&4* O$H&*&$* - ?&/?/H*>? A@ 5&/H/+)C hrr H( h AGUl G* Q' - (/&(/&/ A@ AC)D*U'+'>/ .' .)C@?'* K'A/&K)>/?/? A@ U'C'>/ hu - %+(&H $*&H+,1$% ]&=.0.)$1N 1%$1%$ 1+%H&>N =$0$1 - +@&1$ +f=4,+%+$ *$ &,1+H=+%&& 0& >.,1$>1+ &,O+>1&.$0+ &?'A@C/&'?/?*/ A/Q@C@' e =$>&+,1 -8 0+>4,)$% P#;N &*"&/A?/& C/ ?&/?/H*>?N >4 $=*$G&+ H+)4*$%$ =%+*4,(&1$ =.01 2l5N >.H=*&>$1$ >4 H4>&1$ $0.>&$1$ >4 *+%"%" ;(#)"%,1, #";"%, S 0&,)%.H >$1$D.*&> 14H.%$*3 e ]&=.$*D4H&,+H&+N >$0+>0&+3 94o 9;7,79 m 9#9V G/A'*>? '> I'&.?/ +* ly />'V )&, H+)&4* 4%D$,N 0+ $)%+0+$G$ =+,1%4 =%&H$ )$1$ >*&,&>&& &, )+>+HD%&+ ?YY_ >4 0&,)%.H O+D%&*N 01$%+ (+,+%$*$ $*1+%$1$N .)&,.O$(&+3 6)?'I*C* '>?*&>/&''d -
>4 01$%+ (+,+%$*$ &,O*4+,1$1$N G*&")&H/>?/ hil Q%+01%&>1&.,$1$ $>1&@&1$1+$ O&G&>$ &,1+,0$N =.$1+' !A)& 0$ 0+ +* =%+G&,1+ 0&,(4% &,093% $HD4*$1.%R ‚"\ƒ3 $01+,&+ H$%>$1$N )&0O$(&+ 0& .)&,.O$(&+ ' *I/C@/?* G* .A/C/ P4! g H)+*&/?* BfRhrE O+D%$ &,$&,$*1$N 1%$,0=&%$1&& ,.>14%,+N
"Xb
&,$=+1+,1$N $)+,.=$1&& (+,+%$*&G$1+ >4 )&$H+1%4* )+ "3? >H (&,(&@.%$(&& 7.?)&'A e )+D41 &,0&)&.0 )+ "'? 0$=1$H$,& =%&, O+D%$N $01+,&+ =%.(%+0&@$N (&,(&@.%$(&& *$ =+%&$k )+,1$%N )&0O$(&+ 0& .)&,.O$(&+ =%.(%+0&@$N $=$%&1&$ )+ $)+,.=$1&& )+ "'? >H3 ;4%+%&*+ 04,1 >.,1%.*$1+ )+ 5&/H/+)C nr H( U l G* Q' B?&*/G?/ 77 36!E 0U/H*> AC'>'A C/ '>?*&>/&*^ - =$*.$%+ 0>*+%.'1+(4H+,1$%$ - $01+,&+ O&G&>$ H$%>$1$ - O+D%$ &,$*1$ - 58 ""YraY HHl( - 94%=4%$ 0& =+1+0&& =+ H+HD+*+ &,O+%&.$%+ - 2.,(+01&+ 0& ]&=+%1%.O&+ $H&()$*&$,$ - 2.,(+01&+ 0& ]&=+%1%.O&+ (&,(&@$*$ - L&,(&@.%$(&& - 3+'>)"/('* .' +'."/('* +I/C@/?* G* .A/C/ P4! g H)+*&/?* BfRhrE X')C)('A^ - 8,+H&+ QlDZ(r)*RN 5%.HD.>&1.=+,&+ Q5%"YYYYrHH>RN T+41%.=+,&+ Q9T ""YYYrHH>RN D*$01& \Y{ =+ JP9N &,O&*1%$1 H+)4*$% SZ{ D*$01& H&+*.&G&N :J5 )&, $0=&%$14* =%.O&* &H4,.*.(&> 0=+>&O&> -8#S - l&=.$*D4H&,+H&+ Q$*D4H&,$?NS(r*R - -;l >%+0>41 Q-;l"?YY4&r*RN -
- l&=+%4%&>+H&+ Q$> 4%&>\NS H(r)*R N'/(>).?'A e P#;N -+4>+H&+ $>41$ =%.H&+*.>&1$%$ ' -8#S N'/(>).?'A@C *?')C)('A .' AC'>'A /C +@&*&''^ - !+%"%" #/4,.(), 4/*"%,., e )&0O$(&+ 0& .)&,.O$(&+ *I/C@/?* G* .A/C/ P4! g H)+*&/?* BfRhrE 5&/?/H*>? - 9D'H')?*&/G'* =%.1.>.* nSvaM 2}1.G$% v :)$%4D&>&,$ - 5&/?/H*>? +* .@K.?'?@?'*^ #6 ' H$0$ +%&1%.>&1$%$N 25Pr25< ' >.,>+,1%$1 1%.HD.>&1$% 01$,)$%r4,&1$% N $*D4H&,$ 4H$,$ - 4>?'K')?*&/G'* >4 0=+>1%4 *$%( Q&,>*40&@ $,1&@&%$*+N $,1&O4,(&>+R - ,@?&'?'* G/&*>?*&/C/^ 8H&,.@+,N •$D&@+,N - ['+&/?/&* G/&*>?*&/C/d "ZYY H* rG&d 0.*41&& )+ (*4>.G$ Z{ - 5*&/G'/ +@&*&'' d ! 5&/H/+)C "YY H(f SrG& &,1%$@+,.0 B?&*/G?/ 77 36!E e +@$*4$%+$
-
&,1+,0&1$1&& )4%+%&& 04D 1%$1$H+,1 =+ =$%>4%04* 1%$1$H+,14*4& 04D 5%$H$).* .A)& P4! rihiRhr ! <*&"/C(/> g G/&/A*?/H)C' =+,1%4 O+D%$ B?&*/G?/ 7 36!E g A)>?&)C )G?'H /C +@&*&'' %/&(/&/ A@ U'C'>/ hu€K'A/&K)>/? +* .)+'@ € "C@A)>/Q)C 5*&/G'/ "*K&*' g <*&"/C(/> h "C C/ >*I)'*
"XZ
7+(&H $*&H+,1$% ]&)%&>N O$%$ 0$%+ &,&1&$*N $=.& =$0$1$ 0& 1%$1$1$ 1+%H&> &, =+%&.$)$ $=*$G&+& 0& ,+41%.=+,&+& O+D%&*+ - #.D&*&G$%+ G&*,&>$ - P>]&HD$%+ =+%&.)&>$ $ =.G&1&+& &, =$1 - :(&+,$ >.%=.%$*$ $0&01$1$ )+ =+%0.,$*4* H+)&>$* H+)&4 - 90&].1+%$=&+ - 9$>&+,14* +01+ &G.*$1 &, %+G+%@$N 04=%$@+(]+1 =+%H$,+,1N58N =4*0N 1+H=+%$14%$ 0I)C@?'* .@K ?&/?/H*>? -
0+ %+H&0&4,+$ )4=$>.H=*&>$1&&*+ =%&H$ >4%$ )+ &,)4>1&+ =+ .D1&,+ =+%&.$)$ $=*$G&+& $=$% 0=+>&O&>+d ! H@A'?/ (& 777 /.)A'/?/ A@ *+%"%" ;(#)"%,1, 4/*"%,., >$%+ +01+ K'>* A)>?&)C/?/ +* 5&/H/+)Cq )4%+%&*+ 0+ %+)4> &, &,1+,0&1$1%+ =+ H$04%$ >+ *+G&4,&*+ H4>.$0+ 0+ @&,)+>$ B.A/+* +* C/ fRhr *$ rihRhr P4!EN H.1&@ =+,1%4 >$%+ .* &*>@>?/ C/ ?&/H/+)C ! ,*@?&)G*>'* "*K&'C/ - 8)+,.=$1&&*+ )&0=$% - 9$%$H+1%&& ]+H$1.*.(&>& 0+ >.%+>1+$G$ =+ =$%>4%04* $=*+G&+& >4 =%.)40+ )+ 0&,(+d #6N 25Pr25< - 01$1404* =0&]&> $* =$>&+,14*4&0+ 0$1&0O$>$1.%N $H+*&.%$1 >4 0+)&,1+ )+ =0&].1+%$=&+ +O+>14$1+ )+ 0=+>&$*&014* =0&].*.( 0& )+ )&$*.(4* =+%H$,+,1 >4 =+%0.,$*4* H+)&>$* 04=+%&.% 0& H+)&4 9)>+'?'' +* *U?*&>/&* -
$O+D%&*&1$1+ >.%+>1$%+$ =$%$H+1%&*.% ]+H$1.*.(&>& e %+H&0&4,+ 2*A)H/>+/&' C/ *U?*&>/&* - +@&1$ >.,1$>1+ &,O+>1&.$0+ 0& $(*.H+%$1&& - $*&H+,1+ 1%$1$1+ 1+%H&> - +@&1$ 1%$4H$1&0H+ 0& +O.%14%&*+ O&G&>+ - ]&)%$1$%+ S'b * =+ G& - 1%$1$H+,1 >4 D&0+=1.* ? >= f ? =+ G&N $>&>*.@&% " >= f ? =+ G& - %+@&,+ &H+)&$1 &, >$G )+ $=$%&1&$ O+D%+& - %+@&,+ >.,O.%H =%.(%$H$%&& *$ >4%$ &?'A@C/&'?/?*/ A/Q@C@' e =$>&+,1 1&,$% )&$(,.01&>$1 >4 -8#Sq *$ )&$(,.01&> =%+G+,1$ *+%"%" #/4,.(), *" (0."0#(.,." 4"*(" ' .)&,.O$(&+ 0& )&0O$(&+ >4 &/.G@>. "/I)&/K'C C/ H*+'A/?'* +* ?&*/G?/ 7i77 36!# P4D 1%$1$H+,1 =$1.(+,&> )4%+%&*+ )&0=$%3 -
94o 9;7,79 n %#
"X_
6)?'I*C* '>?*&>/&''d - >4 01$%+ (+,+%$*$ &,O*4+,1$1$N .A)& +* G*&")&H/>?/ 093% e Q>$=$D&* ,4H$& 0$ 0+ &,(%&k+$0>$ 0&,(4% )$% *&H&1$1N =%+O+%$ =.G&1&$ )+ >*&,.01$1&0HN %$H&,+ &, =$1N H$& H4*1 )+ ZY{ )&, =+%&.$)$ )+ =+01+ G&R ‚"\ƒ3 - 1%$,0=&%$1&& ,.>14%,+N &,$=+1+,1$N (%+14%&N@$%0$14%&N - +@&*&' /K+)H'>/C* '>?*>.* +'"@Q*V *I/C@/?* G* .A/&/ P4! g .*I*&* BqRhrE 7.?)&'A i =$>&+,1 +01+ )&$(,.01&>$1$ )&, ?YY_ >4 -#Tl >4 >+*4*$ H$%+ ` >4 %$0=4,04%& =$%1&$*+r %+>$)+%& =%+>.>+N $ 4%H$1 H$& H4*1+ *&,&& )+ >]&H&.1+%$=&+ Q2l/9'`*+.N J*4)$%$' 29#N 29#' :JTR3 ;+ ? 0$=1$H&,& +@.*41&+ ,+O$@.%$D&*$ ).H&,$1$ )+ )4%+%& $D).H&,$*+ )+ 1&= >.*&>$1&@ =%.(%+0&@+ $k4,(&,) =&,$ *$ &,1+,0&1$1+ 0+@+%$ i*I/C@/?* G* .A/&/ P4! BqRhrE N =$>&+,14* ,4 0+ =.$1+ .)&],&N =*40 O+D%$ 0& 0&,)%.H )&0=+=1&> D&*&$%3 -$ ).H&>&*&4 )4%+%+$ ,4 %$0=4,)+ *$ 1%$1$H+,1 >4 G/&/A*?/H)C €Ri ?&/H/+)C# 0U/H*> AC'>'A C/ '>?*&>/&*^ - 9$*.$%+ 0>*+.1+'(4H+,1$%$ - $D).H+, H+1+.%&G$1 O.$%1+ )4%+%.0 *$ =$*=$%+N >4 $=$%$%+i +@&*&* *I/C@/?/ G* .A/C/ P4! g ")/&?* .*I*&/ BqRhrE - ]+=$1.H+($*&+ *$ "Y >H 04D %+D.%) - O+D%$ - 58 "?Yr_Y HHl( - N@&*&* /K+)H'>/C/ .G)>?/>/V /AA*>?@/?/ +* G/CG/&*V X')C)('A^ - 8,+H&+ H.)+%$01$ QlD\N_(r)*RN 5%.HD.>&1.G$ Q5%aZ_YYYrHH>RN *+4>.>&1.G$ >4 =.*&,4>*+.G$ T+41%.=+,&+ Q9T ""YYYrHH>RN - l&=+%D&*&%4D&,+H&+ Q`&* 1.1$*$?NSH(r)*N `;"NX H(r)*R - -;l >%+0>41 Q-;laSX4&r*RN - l&=+%4%&>+H&+ Q$> 4%&>\ H(r)*R - 7+1+,1&+ $G.1$1$ H.)+%$1$ Q4%++ aYH(r)*N >%+1&,&,$ "N_ H(r)*R - 2&1.*&G$ ]+=$1&>$ Q5L/ _Y4&r*N 5L9 XY4&r*R 0U/H*> G/&/AC'>'A^ - 0AD)(&/"'* /K+)H'>/C/ e H/.* /+*>)G/?'A* .%($,&G$1+ &, D*.>4%& >4 )&$H+1%4* H$f )+ Sbrb_ HH *.>$*&G$G+ &, ]&*4* ]+=$1&> 0& &,1+%$.%1&>.>$@ - 2/+')(&/"'* /K+)H'>/C/ G* ()C e ,&@+*4%& ]&)%.$+%&>+ &,1+01&, 04D1&%+ N'/(>).?'A - ;6,[ A@ A*C@C/ H/&* X 7P X &**I)C@?'*V !'>+&)H .@K)AC@Q'I N'/(>).?'A@C *?')C)('A .' AC'>'A /C +@&*&''^ - !+%"%" ;(#)"%,1, #";"%,. 0+>4,)$%$ 0&,)%.H4*4& 04D.>*4G&> =.0&D&* 0& =%&, >.H=%+0&4,&*+ H$0+*.% $)+,.=$1&>+ 0& =%&, 1.%0&4,+3 5&/?/H*>? - 9@&/ AD'&@('A/C/ / .'>+&)H@C@' .@K)AC@Q'I A@ A)C).?)H/ G* A)C)>@C ?&/>.I*&.V GC@. +&*>/] G*&'?)>*/C - 9D'H')?*&/G'* ) >)@/ C'>'* i 1&= 7&14f&H$D v L+HG$% v 2&0=*$1&, v ;+f$H+1$G.,$
"Xa
-
4>?'K')?*&/G'* >4 0=+>1%4* *$%( 5&/?/H*>? +* .@K.?'?@?'*^ #6 ' H$0$ +%&1%.>&1$%$N 9'?)G&)?*A?'* D*G/?'A/d 8%(&,&,$N g&1$H&,.1+%$=&+ e g&13 `"N `_ ,@?&'?'* G/&*>?*&/C/d 8H&,.@+,N •$D&@+,N ['+&/?/&* G/&*>?*&/C/ "ZYY H* rG&d 0.*41&& )+ (*4>.G$ Z{ 5*&/G'/ +@&*&'' ^ ! 5&/H/+)C hrr H(U e RQ' &,1%$@+,.0 B?&*/G?/ 77 36!E g +@$*4$%+$ &,1+,0&1$1&& )4%+%&& 04D 1%$1$H+,1 .A)& P4! yiqRhr .' .* ?&*A* C/ !
6'/C('> B<*?'+'>/E ly H( U m G* Q' 04D>41$,$1 B?&*/G?/ 777 36!E A@ &/.G@>.K@> B.A)& P4! eRhrE# - 7+(&H $*&H+,1$% ]+=$1&> - #.D&*&G$%+ G&*,&>$ - P>]&HD$%+ =+%&.)&>$ $ =.G&1&+& &, =$1 - P>]&HD$%+ =+%&.)&>$ $ =4,(&& )+ %+>.*1$%+ )&, >.*.01.H$ - :(&+,$ >.%=.%$*$ $0&01$1$ )+ =+%0.,$*4* H+)&>$* H+)&4 - 90&].1+%$=&+ - 9$,0$H+,1 G&*,&> $* =*$(&& .=+%$1.%&& 0& >.,1%.* $* )%+,$k4*4& 0I)C@?'* .@K ?&/?/H*>? - )4%+%&*+ 04,1 ,+>.,1%.*$1+ )+ 1%$1$H+,14* >4 1%$H$).*N 0+ $)$4($ H*+'A/?'* +* ?&*/G?/ 777 36! - 01$%+ (+,+%$*$ 0+ $H+*&.%+$G$ =.01.=+%$1.% 0& )4=$ 2l5N - )4%+%&*+ 0+ %+)4> >$ &,1+,0&1$1+N ,+>+0$%4* )+ $,$*(+1&>+ 0+ %+)4>+ 0& 0+ 1%+>+ *$ 5&/H/+)C nr H( U lie G* Q' )&/C =$%$H+1%&& ]+H$1.*.(&>& >.%+>1$1& H.)+%$1 >4 1%$1$H+,14* )+ 04D01&141&+ >4 =%.)40+ )+ 0&,(+ 9)>+'?'' +* *U?*&>/&* - %"#.(.+.(/ ,* (0."-%+1 /C GC/('' )G*&/?)&'' - >.,1%.*4* .=1&H $* )4%+%&& - >.%+>1&$ =$%$H+1%&*.% D&.*.(&>& - 01$%+ (+,+%$*$ D4,$ 2*A)H/>+/&' C/ *U?*&>/&* - &,(%&k&%+ 0& 04=%$@+(]+%+ &, H+)&4* O$H&*&$* - ?&/?/H*>?@C +@&*&'' C/ >*I)'* A@ 5&/H/+)C nr H( U lie G* Q' - %+(&H $*&H+,1$% )+ >%41$%+ ]+=$1&>$N D.($1 &, O&D%+ - +@&1$ +f=4,+%+$ *$ &,1+H=+%&& 0& >.,1$>1+ &,O+>1&.$0+ - ]&)%$1$%+ ?YYY H*rG& - &,1+%G&> >.,04H )+ $*>..*N 1414,N >.,0+%@$,1& &?'A@C/&'?/?*/ A/Q@C@' g G/A'*>? A@ ;6,[ A@ A*C@C/ H/&* X &*A/+*&* +@G/ m C'>'' ?*&/G*@?'A*V 0+ &,1+%,+$G$ >4 @> .'>+&)H /A@? AD'&@&('A/C i .'>+&)H .@K)AC@Q'A i *+%"%" ;(#)"%,1, #";"%, g >$%+ ,+>+0&1$ />/(*?'A* +* ?&*/G?/ 777 36!V >.,1%.* .=1&H $* )4%+%&& )4=$ ?*&/G'/ G/?)(*>'A/3 6@.*41&+ D4,$N .* ?&*A* C/ />/(*?'A* +* ?&*/G?/ 7i77 36! -
"X\
9)>AC@Q'' "3 ;&, (%4=$ H$%+ $ =$>&+,[&*.% >4 >$,>+%N =$>&+,[&& >4 ]+H.=$1&& H$*&(,+ >.,01&14&+ 4, >$G $=$%1+3 9%+G+,1$ )4%+%&& *$ $>+01$ >$1+(.%&+ )+ =$>&+,[& >4,.$^1+ >A1+@$ >&%>4H01$,[+ =$1.(+,&>+ 0=+>&O&>+N $0$ >4H %+&+0+ )&, >$G4%&*+ >*&,&>+ =%+G+,1$1+d $3 S' ?*&H'>/C'V >$%+ ,+>+0&1F B,(%&k&%& =$*+$1&@+ ^& 1%$1$H+,1 $,$*(+G&> Q)&, (% :: 0$4 ::: /#PR D3 S' A@ +@&*&* C/ +'/(>).?'A P4! eif ^& %F0=4,0 D4, $* )4%+%&& *$ 1%$1$H+,14* =$1.(+,&> OF%F 0F H$& O&+ ,+@.&+ )+ $,$*(+1&>+ 0$4 ).$% $,$*(+1&>+ (% : /#P S' A@ +@&*&* .*A@>+/& A)HGC'A/S''C)& AD'H')?*&/G'*' e H4>&1$N *+G&4,& >3 )&, 4*>+%.0+ >41$,$1+N )4%+%& >$%+ 0+ %+H&1 )4=$ %+@+,&%+$ )&, $=*$G&+ )3 S' A@ K)/CF D*H/?)C)('AF C/ A/&* /G/&* @> *I*>'H*>? '>?*&A@&*>? /.)A'/? A@ +@&*&*/ '>?*>.F e $D).H+, $>41 >]&%4%(&>$* ' 04D.>*4G&+ ' )4%+%+ Xr"Y g8P e )4%+%&*+ 0+ %+H&1 )4=$ >4%$ >]&%4(&>$*$ ?3 ;&, )&0>4E&$ >$G4%&*.% =%+G+,1$1+ 0+ =.1 +f1%$(+ >A1+@$ >.,>*4G&& *+($1+ )+ 41&*&G$%+$ .=&.&G&*.% *$ =$>&+,E&& >4 D.*& ]+H$1.*.(&>+d $3 ,4 0+ >4,.$I1+ . *&H&1$%+ )+ 41&*&G$%+ *+($1F )+ D.$*$ B, 0&,+ D3 0+ O.*.0+0> .=&.&G& =.1+,E& I& 0+ 41&*&G+$GF ).G+ +O&>&+,1+ =+,1%4 >.,1%.*4* )4%+%&& >3 0+ $k401+$GF ).G+*+ B, O4,>E&+ )+ =$%1&>4*$%&1FE&*+ >*&,&>+ $ O&+>F%+& O.%H+ )+ D.$*F )3 H+)&>$E&$ .=&.&)F %+=%+G&,1F ).$% 4, +*+H+,1 B, $%0+,$*4* 1+%$=+41&> $* )4%+%& B, D.*&*+ ]+H$1.*.(&>+ +3 0+ +@&1F H+=+%&)&,$N $(.,&01'$,1$(.,&I1&& I& $(.,&I1&& =$%E&$*& X'KC')(&/"'* "3 8*D4 6*+,$N ;$0>$*+0>4N 8,(+*$ 23 ;$,$&*$N /01&, 23 #4,(&4N <1&*&G$%+$ .=&.&G&*.% *$ =$>&+,1& >4 D.*& ]+H$1.*.(&>+d =$%1&>4*$%&1$1& O$%H$>.'>*&,&>+N /=&.&G&& )+ *$ >*$0&> *$ H.)+%,N /323#4,(&4 Q04D %+)$>E&$RN 6)&14%$ #+)&>$*$ 8H$*1+$N `4>4%+01& ?YY_ ?3 8H+%&>$, 2$,>+% 9$&, P.>&+1}' 9%&,>&=*+0 .O 8,$*(+1&> <0+ &, 1]+ 1%+$1H+,1 .O 8>41+ 9$&, $,) 2$,>+% 9$&, b 1] 6)&1&.,N"XXX S3 `+41*+% 6N -&>]1H$, #N 2.**+%`N +1 $*3 x&**&$H‹ l+H$1.*.(}3 _1] +)3 -.,)%$d#>L%$~'l&** #+)&>$* 94D*&0]&,( ;&@&0&.,N ?YY"N b3 `&*) 63N -3 #&%., 5+%$=&$ >$,>+%4*4& '(]&) =%$>1&>'+*+H+,1+ O4,)$H+,1$*+ )+ )&$(,.01&> 0& 1%$1$H+,1 H4*1&H.)$* 6) 5+],.=%+0 :$0&N ?YYS Z3 2]+%,} T3:3N 9.%1+,.} 73•dN' 1]+ #$,$(+H+,1 .O 2$,>+% 9$&, 328 2$,>+% m32*&, _3
a3
"XXb3 2.,1%+%$0 63N 5$H$}. -3N †4&k$)$ -3 e K6OO+>10 .O 1%&>}>*&> >.H=.4,)0 $,) .1]+% )%4(0 ]$@&,( $ H+HD%$,+ 01$D&*&G&,( $>1&., ., $,$*(+0&$N 1.*+%$,>+ $,) )+=+,)+>+ ., H.%=]&,+MN &, 8%>]3 :,13 9]$%H$>.)},3N "XaaN ,%3 ??\N ==3 ?XS ?X ;F,F&*F 2F1F*&, 3 'l+H$1.*.(&+ /,>.*.(&>F'6*+H+,1+ )+ )&$(,.01&> I& 1%$1$H+,1' ;&0>&=*&,$ )+ l+H$1.*.(&+N<,&@+%0&1$1+$ )+ #+)&>&,F I& J$%H$>&+ L%3 53 9.=$N:$I&
"XX
\3
;.}*+ ;3N l$,j0 L3x323N #$>;.,$*) T3 e /fO.%) 5+f1D..j .O 9$**&$1&@+ #+)&>&,+N `41*+% $,) 5$,,+% -1)3N L3`3N "XXS X3 64%.=+$, P.>&+1} .O #+)&>$* /,>.*.(} L4&)+*&,+0 5$0j J.%>+'6P#/ 7+>.H$,)$1&.,0 O.% 9%.O&*$f&0 .O 2]+H.1]+%$=}' :,)4>+) T$40+$ $,) g.H&1&,( N ?YY? 8=%&* "S3 "Y3 J+&,H$,, 23 e K9$&, %+*&+O D} $,1&)+=%+00$,10d =.0&D*+ H.)+0 .O $>1&.,MN &, 9$&,N "X\ZN ,%3 ?SN ==3 " \ ""3 J+0G1 L3N -4=I$ 73 e K2+%>+1F%& +f=+%&H+,1$*+ =%&@&,) $>E&4,+$ $,1&,.>&>+=1&@F $
"?3 "S3 "b3 "Z3 "_3 "a3 "\3
4,.% 04D01$,E+ I& $0.>&+%& ,+4%. =0&].O$%H$>.*.(&>+MN &, `4**3 8>$)3 ¡1&&,E+ #+)3N "X\aN ,%3 " ?N ==3 bb bZ L]+.%(]+ #3;3 e 8,1&)+=%+0&@+*+ I& )4%+%+$3 ;4%+%+$ $>3 I& >%3N "XXSN "N bX ZY3 l.OOH$, 73 l+H$1.*.(} eD$0&> =%&,>&=*+0 $,) =%$>1&>+3T+~ €.%j d 6*0+@&+%N ?YY_d>$= ZX'__3 m$D$ :3#3N #4,(&4 /323N 8,$*(+1&>+ .=&.&)+N 6)3P+)>.H -&D%&0N :$0& ?YYa -4>&$, #&%.,N 5+%$=&$ /,>.*.(&>F3 /=E&4,& D$G$1+ =+ ).@+G&3 6) :,01&1414* 64%.=+$,N :$0&N ?YY\ #4,(&4 /01&, 23N 0& >.*N 6@$*4$%+$ )4%+%& e 8*(+G&.*.(&+ +f=+%&H+,1$*$N 6)&14%$ 9.*&%.H?YY"N =("""'"?X #41 9.=+0>4 ;+*&$el+H$1.*.(&+ >*&,&>F N+) $'?'$N>.*+>E&$ ,.1+ )+ >4%0N 6)&14%$ #+)&>$*$ `4>4%+01& ?YYS 9%.@$, ;3N P&,(+% 2]3m373N `$(*&, 53N -&**+}H$, m]3N /fO.%) l$,)D..j 2*&,&>$* l$+H$1.*.(}N 0+>.,) +)&1&.,N ?YYa
"X3 90}>].*.(&>$* $,) D+]$@&.%$* 1%+$1H+,1 .O &,0.H,&$d 4=)$1+ .O 1]+ %+>+,1 +@&)+,>+ Q"XX\'?YYbR3 #.%&, 2#N `..1G&, 77N `4}00+ ;mN 6)&,(+% m;N 60=&+ 28N -&>]01+&, •-3 P*++=3 ?YY_ T.@q ?XQ""Rd"SX\'b"b ?Y3 7+))} P3N 9$11 73`3 e K5]+ D+,G.)&$G+=&,+0 $0 $)k4@$,1 $,$*(+0&>0MN &, m3 9$&,3 P}H=1.H #$,$(+N "XXbN ,%3 XN ==3 Z"Y b ?"3 P$~},.j m3N €$j0] 53-3 e K2$OO+&,+ $0 $, $,$*(+0&> $)k4@$,1d $ %+@&+~ .O =]$%H$>.*.(} $,) H+>]$,&0H0 .O $>1&.,MN &, 9]$%H$>.*3 7+@3N "XXSN ,%3 bZN ==3 bS \Z ??3 P>]%+&D+% P3N `$>j+% #3#3N 9&>j 23L3 e K5]+ =.00&D*+ %.*+ .O O*[email protected]$H&,+ &, 1]+ H$,$(+H+,1 .O =$&,MN \1] x.%*) 2.,(%3 ., 9$&,N "XX_N 8D01%$>10N ==3 "?_ "?a ?S3 P*++= $,) >$,>+%d %+>+,1 )+@+*.=H+,103 P$1+&$ #mN -$,( `m3 ]11=drr~~~3>*&,&>$*.=1&.,03>.Hr&,9%$>1&>+r7+0.4%>+0r94D#+)r"\aa\ZZa3$0=f ?b3 54%$ `3N 54%$ P3#3 e K5]+ $,$*(+0&> +OO+>1 .O 1%&>}>*&> $,1&)+=%+00$,10MN &, `%$&, 7+03N "XXYN ,%3 Z"\N ==3 "X ?? ?Z3 g+,1$O%&))$ g3N 7&=$H.,1& 23N ;+ 2.,,. J3 +1 $*3 e 8,1&)+=%+00$,10 &,>%+$0+ D&.$@$&*$D&*&1} .O H.%=]&,+ &, >$,>+% =$1&+,10N -$,>+1N "Xa\N :N "?Yb3 ?_3 x].N -..j&,( O.%~$%) 1. >$,>+% =$&, %+*&+O O.% $**N 2.*$D.%$1&,( 2+,1+% O.% =$*+$1&@+ 2$,>+% 2$%+N /fO.%)N "XXa ‚"ƒ ?a3 €.4,( TN L+%0., PN l&(] •3 2*&,&>$* ]+H$1.*.(} 3 9]&*$)+*=]&$d -&=&,>.11 x&**&$H0 “ x&*j&,0 ?YY_dSb\ 'bY?q b"a 'bba
?YY
?\3 `F)4*+0>4 J3 2A%*&( g3 g.&>4 g3 Z24(&( /@'9'%)(*2,'(' 2")'"(%,&24'/(3 6)&14%$ ;&)$>1&>F I& 9+)$(.(&>FN `4>4%+I1&N "XXa ?X3 `+41*+% 63N -&>]1H$, #3N 2.**+% `3N •&==0 5]3N y'&&'298 M(92)%&%AHN 0&f1] +)3N #> L%$~'l&**N T+~ €.%jN ?YY" SY3 L..)H$, L&*H$, 83 J@( ,@2*92/%&%A'/2& Z28'8 %= J@(*2,(+)'/8C T&,1] +)&1&.,3 #>L%$~'l&**N T+~ €.%jN "XX_ S"3 •$1G4,( `3L3 Z28'/XL&'"'/2& O@2*92/%&%AH3 6&(]1] +)&1&.,N *$,(+ #+)&>$* `..jr#>L%$~'l&**N T+~ €.%jN ?YY" S?3 9F4, 73 J*2)2) 1( 9(1'/'"3 '")(*"3 k @(92)%&%A'(. 7%& P. CPP. 6)&14%$ #+)&>$*FN `4>4%+I1&N "XXX SS3 7&11+% m3#3N -+~&0 -3;3N #$,1 53L3•3 N )(<)$%%F %= /&'"'/2& ,@2*92/%&%AH3 J.4%1] +)&1&.,3 /fO.%1 <,&@+%0&1} 9%+00 :,>3 T+~ €.%jN "XXX Sb3 x$**+% ;3L3 7+,~&>j 83L3 l&**&+% •3 U(1'/2& O@2*921/%&%AH 2"1 J@(*2,(+)'/83 x3`3P$4,)+%0N 6)&,D4%(]N ?YY"3
?Y"
T4264935024<74 N120277^ <425791;4275:=7 Z, 3,93;3%70 g+%.,&>$ `&*) J$>4*1$1+$ )+ J$%H$>&+ <#J oL%&(.%+ 53 9.=$o :$^& ;4%+%+$ +01+ 4, 0&H=1.H >.H4, 0& +0+,[&$* $* D.*&& >$,>+%.$0+3 -&1+%$14%$ %$=.%1+$GF >$ >+* =4[&, . 1%+&H+ )&, =$>&+,[&& >4 D.*& ,+.=*$G&>+ 0+ =*A,( )+ )4%+%+ *$ H.H+,14* )&$(,.01&>F%&& &$% =+ HF04%F >+ D.$*$ $@$,0+$GFN =+01+ \Z{ @.% O& 04O+%&1 )+ )4%+%& ‚"ƒ3 C, =*40N =+ *A,(F )4%+%+N =$>&+,[&& H$& $4 )+ 04O+%&1 I& )+ =+ 4%H$ $*1.% 0&H=1.H+ $*+ >$,>+%4*4& 0$4 $*+ 0&,)%.$H+*.% =$%$,+.=*$G&>+ =%+>4H $01+,&+N )&0=,++N (%+[4%&N @F%0F14%&N )&0=,++N >.,01&=$[&+N +1>3 8>+01+$N $0.>&$1+ >4 )4%+%+$N =.1 O& =+%>+=41+ >$ O$>1.%& $(%$@$,[& $& )4%+%&&3 5.14^&N )+^& +f&01F =%.1.>.$*+ D&,+ 01$D&*&1+ =+,1%4 1%$1$H+,14* )4%+%&& B, >$,>+% &$% %+)4>+%+$ 0$4 04=%&H$%+$ )4%+%&& +01+ =.0&D&*F &, =+01+ XY{ )&, >$G4%&N 014)&& $=%.O4,)$1+ $4 )+H.,01%$1 >FN *$ ,&@+*4* P1$1+*.% <,&1+N ).$% bY{ )&, >*&,&>&+,&& &H=*&>$[& &, 1%$1$%+$ D.*&& ,+.=*$G&>+ 04,1 0$1&0OF>4[& )+ >.,1%.*4* )4%+%&& =+,1%4 =$>&+,[&& *.%3 \_{ 0'$4 0&H[&1 .D*&($[& 0F )+>*$%+ >F )4%+%+$ *$ =$>&+,[&& *.% +01+ 04D' H+)&>$1F‚?ƒ3 -$ ,&@+*4* 2.H4,&1F[&& 64%.=+,+N 0+,G$[&$ )+ &,0$1&0O$>[&+ +01+ >]&$% H$& $>41Fd 4, 014)&4 O%$,>+G $k4,(+$ *$ >.,>*4G&$ >F bY 'bZ{ )&, =$>&+,[&& >4 >$,>+% ,4 D+,+O&>&$GFN 0$4 ,4 @.% D+,+O&>&$ B, @&&1.% )+ 4, 1%$1$H+,1 $,$*(+G&>N 0$4 $>+01$ @$ O& =%.01 >.,>+=41 0$4 =%.01 $)H&,&01%$1‚Sƒ 3 -$ ,&@+*4* 7.HA,&+&N &,O.%H$[&&*+ 04,1 =4[&,+ ^& ,+>*$%+3 #&,&01+%4* PF,F1F[&& $ =4D*&>$1 (]&)4%& )+ 9%$>1&>F #+)&>$*F >$%+ $% 1%+D4& 0F $>.=+%+ )&, =4,>1 )+ @+)+%+ =%.>+)4%$* 1%$1$H+,14* )4%+%&& &, >$,>+%N )$% =A,F *$ .%$ $>14$*F B,>F ,4 +f&01F . D$GF )+ )$1+ ,$1&@F >4 =+%0.,$*4* >$*&O&>$1N ,&@+*4* )+ +)4>$[&+ )+ 0=+>&$*&1$1+ ,+>+0$% =+,1%4 $ 1%$1$ )4%+%+$ ,+.=*$G&>FN &H=*&>$%+$ H4*1&)&0>&=*&,$%F ^& ,&@+*4* >4,.^1&,[+*.% )+ $*(+G&.*.(&+ ,+>+0$%+ =+,1%4 $ 1%$1$ =$>&+,14* >4 )4%+%+ )+ >$,>+%3 5%$1$H+,14* )4%+%&& B, B,(%&k&%+$ =$*&$1&@F $ O.01 &,1%.)40 &, $,&& ‹ZY *$ -.,)%$N =%&, $)H&,&01%$%+$ o*$ .%+ O&f+o $ H.%O&,+&N &$% &, "X\_ $ O.01 %+>4,.0>41F >$ o1%+$=1$ $ ::: '$o $ 1%$1$H+,14*4& )4%+%&& >$,>+%.$0+ )+ >F1%+ /#P Q ‚bƒ3 #.)+*4* K1%+=1+*.% $,$*(+G&>+o $ O.01 +f1%+H )+ 41&*N H$& $*+0 &, 1$%&*+ &, >4%0 )+ )+G@.*1$%+3 5.14^&N =+ HF04%F >+ 1+%$=&$ +1&.*.(&>F $ )+@+,&1 )&, >+ &, >+ H$& +O&>&+,1FN 04=%$@&+[4&%+$ 0'$ BHD4,F1F[&1 &, H.) 0+H,&O&>$1&@N 4,+.%& =+ 0+$H$ 4,.% O.%H+ H$& >.H=*+f+ )+ )4%+%+N =+ HF04%$ >+ >$,>+%4* &H=*&>F =*+f4%& ,+%@.$0+N >$,$*4* H+)4*$% 0$4 >%+&+%4*3 / 0+%&+ )+ 014)&& H$& H.)+%,+ )+H.,01%+$GF >F B,1%+ ?Y 0& bY{ )&, =$>&+,[&& >4 )4%+%+ >$,>+%.$0F ,4 H$& D+,+O&>&$GF &, H.) 0+H,&O&>$1&@ )+ O.*.0&%+$ K0>F%&& $,$*(+G&>+o ‚Zƒ3 5.$1+ $>+01+$ )+H.,01%+$GF ,+>+0&1$1+$ 4,+& 0>]&HDF%& )+ =$%$)&(HF B, H$,$(+H+,14* )4%+%&&3 8>+$01$ $% 1%+D4& 0F &,>*4)F 4, $D.%) H4*1&O$G&> >$%+ 0F &,>*4)F 0>%++,&,( 0&01+H$1&>N +@$*4$%+$ >4=%&,GF1.$%+ $ )4%+%&&N >$%$>1+%&G$%+$ 1&=4*4& )+ )4%+%+N &)+,1&O&>$%+$ H.)4*$1.%&*.% =+%0.,$*& $& +f=%&HF%&& 0+,G$[&+& )+ )4%+%+N ).>4H+,1$%+$ )+ =$^& =+%0.,$*&G$[& )4%+%&& *4,(3 ^& &H=*+H+,1$%+$ 4,4& =*$, )+ 1%$1$H+,1 H4*1&)&0>&=*&,$%B,>4 H$,$(+H+,14* H.,&1.%&G$%+ =+ 1+%H+, ;4%+%+$ )&, >$,>+% +01+ K. 01$%+ )4%+%.$0F >.H=*+fF >+ &H=*&>F $1A1 >.H=.,+,1+ &,O*$H$1.%&& >A1 ^& ,+4%.=$1+N )$% >$%+ =%+G&,1F +*+H+,1+ >+ =$% $ O& 4,&>+ =+,1%4 )4%+%+$ )&, >$,>+%o ‚_ƒ3 C, .=&,&$ *.%N )4%+%+$ >$,>+%.$0F +01+ O.$%1+ &H=%+)&>1&D&*FN >4 &,1+,0&1F[& O.$%1+ @$%&$D&*+ 0& 4, H$,$(+H+,1 O.$%1+ )&O&>&*3
?Y?
;+ $0+H+,&N . >$%$>1+%&01&>F $=$%1+ $ $>+014& 1&= )+ )4%+%+ . %+=%+G&,1F +f&01+,[$ )+ +,1&1F[& >*&,&>.'=$1.*.(&>+ )+ 0&,+ 01F1F1.$%+N &,)40+ )+ 1+%$=&&*+ $,1&>$,>+%.$0+N =%+>4H 0&,)%.H4* )4%+%.0 =.01'1.%$>.1.H&+N O&D%.G$ )+ &%$)&+%+ >4 >$=14%$%+$ ,+%@4*4&N ,+4%.=$1&&*+ =+%&O+%&>+ &,)40+ )+ $*>$*.&G&& )+ g&,>$N >.H=4^&& >4 =*$1&,FN 1$*&).H&)$N )4%+%&*+ O$,1.HF >$4G$1+ )+ $H=41$[&&N $%1%$*(&&*+ &,)40+ )+ &,]&D&1.%&& )+ $%.H$1$GFN 01+%.&G&N >&>*.O.0O$H&)FN .01+.,+>%.G+*+ ^& ,+>%.G+*+ $@$0>4*$%+ &,)40+ )+ >.%1&>.01+%.&G& ^& H4*1+ $*1+*+ ‚aƒ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{ )&, >$G4%&*+ )+ =$>&+,[& >4 >$,>+%N >4=*$1F >4 01%+04* =0&].0.>&$* $* 4,4& )&$(,.01&> )+ >$,>+%3 C, $>+01+ >$G4%&N H+)&>$[&$ $,$*(+G&>F )+ 1&= .=&.&) =.$1+ O& ).$% =$%1+$ @&G&D&*F $ 4,4& 0&01+H )+ n$)$=1$%+ >]&H&>FMN >4 )+=+,)+,[F )+ $,$*(+G&>+ ^& =0+4).'$)&>[&+3 9+ )+ $*1F =$%1+N ,.[&4,+$ )+ o@&,)+>$%+o ,4 +01+ &,1%4 1.14* =.1%&@&1F B, >$G4* D.*,$@&*.% )+ >$,>+%3 <, =$>&+,1 )+ >$,>+% +01+ 4, K04=%$@&+[4&1.%o )&, H.H+,14* )&$(,.01&>4*4& ^& =A,F *$ 0OA%^&14* @&+[&& 0$*+ ‚\ƒ3
J&(4%$ " n5%$&+>1.%&$ B,(%&k&%&& =$>&+,14*4& >4 >$,>+% e 0>]&HDF%&*+ =%&, >$%+ 1%+>+ =$>&+,14* ^& $,14%$k4* 0F4 B, >4%04* D.*&& >$,>+%.$0+ QH.)&O&>$1 )4=F ‚aƒR 6* 1%+>+ =%&,1%'. 0+%&+ )+ O$G+N &, O4,>[&+ )+ >$%+ H+)&>$[&$ 0$ 1%+D4&+ H.)&O&>$1F3 5%+>+%+$ =$>&+,14*4& =%&, O$G+*+ D.*&& +01+ 4,&>FN 0& )+ $>++$ 0& H+)&>$[&$N &,>*40&@ >+$ $,$*(+G&>FN 1%+D4&+ $1+,1 =+%0.,$*&G$1F3 9$>&+,14* 1%+>+ =%&, O$G+*+ &,&[&$*+ $*+ )&$(,.01&>4*4& 0& 01$(&,(4*4&N $=.& @$ =%&H& 1%$1$H+,1 >4%$1&@ 0$4 =$*&$1&@3 9%.>+04* 0F4 =$1.*.(&> =.$1+ &,1%$ B, %+H&0&4,+N =.$1+ )+@+,& >%.,&> 0$4 =.$1+ =%.(%+0$3 ;+ $0+H+,&N *$ .%&>$%+ H.H+,1 0+ =.$1+ =%.)4>+ %+>F)+%+ =.1 0$4 $(%$@$ =.$1+ $>+01+ $=$%+ =%.>+0+N 4, $* ).&*+$ 9$1.*.(&$ =%++f&01+,1F 0$4 .>.+f&01+,1F 1.$1+ =%.>+0 )4>A,) ,+.=*$G&>3 *$ 4, $,0$HD*4 >$%+ ,4 H$& &H=*&>F ,4H$& D.*,$@4*N >& ^& O$H&*&$ 0& $=%.=&$[&&N H+)&>&&N =+%0.,$*4* )+ ,4%0&,( ^& O4%,&G.%&& )+ 0+%@&>&& )+ 0F,F1$1+3
?YS
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j&,&,$N 5TJ$N TLJ ^& =%.1+$G+ =%+>4H 1%&=0&,$3 5.$1+ $>+01+ 04D01$,[+ 01&H4*+$GF ,+4%.,&& ,.>&>+=1&@& =%&H$%&N >4 ]&=+%0+,0&D&*&G$%+ =+%&O+%&>F 4*1+%&.$%F3 2$ H+>$,&0H+ >+,1%$*+ $*+ )4%+%&&N 0+ =.1 +,4H+%$ O$>&*&1$%+$ H+)4*$%F 0+%.1.,&,+%(&>F ‚XƒN $>1&@$%+$ %+>+=1.%&*.% T#;8 QT'#+1&*';'80=$%1$1RN 0+,0&D&*F *$ j+1$H&,F ^& )+f1%$H+1.%O$,‚"Yƒ ^& &, 0OA%^&1 $>1&@$%+$ (*&$*FN >$%$>1+%&G$1F )+ >%+^1+%+$ LJ89 QL*&$* J&D%&**$% 8>&)&> 9%.1+&,R ^& $>1&@$%+$ &,1+%*+4j&,+*.% ^& =%.01$(*$,)&,+*.%‚""'"Sƒ3 0I/C@/&*/ +@&*&'' ;4%+%+$ +01+ . +f=+%&+,[F 04D&+>1&@FN )+ $>++$ $41.'%$=.%1$%+$ )+ >F1%+ =$>&+,1 1%+D4&+ 0F O&+ D$G$ =+,1%4 $=%+>&+%+$ )4%+%&&3 ;+ .D&>+&N .D0+%@$1.%&& +f1+%,&N >]&$% )$>F 04,1 ,4%0+ 0$4 H+)&>&N $4 1+,)&,[$ )+ $ 04D+@$*4$ )4%+%+$3 9+ *A,(F . $,$H,+GF =+%0.,$*F O.$%1+ )+1$*&$1FN 4, +f$H+, >*&,&> +01+ .D*&($1.%&4N >4 +f$H&,$%+$ *.>4%&*.% &,)&>$1+ >$ O&&,) )4%+%.$0+ 0$4 $ =.1+,[&$*+*.% 0&14%& )+ H+1$01$G$%+ 0$4 +f1+,0&+3 J.$%1+ &H=.%1$,[& 04,1 &,)&>$1.%&& O$>&$*& 0$4 =.014%$*&N >$%+ =.1 $1%$(+ $1+,[&$ $04=%$ )4%+%&& 0$4 &,1+,0&1F[&& $>+01+&$d =.G&[&& @&>&.$0+N H.D&*&1$1+ %+)40FN $=F%$%+N (%&H$0+N O$>&+04%& )+=%+0&@+ 0$4 $,f&.$0+3 9+ )+ $*1F =$%1+N $D0+,[$ $>+01.% &,)&>$1.%& ,4 B,0+$H,F . $D0+,[F $ )4%+%&&3 <%H+$GF >$%$>1+%&G$%+$ )4%+%&& )4=F *.>$*&G$%+N &,1+,0&1$1+N )+0>%&+%+N =+%&.)&>&1$1+ 0$4 $*1+ >$%$>1+%&01&>& 1+H=.%$*+N O$>1.%& $(%$@$,[& 0$4 )+ 4^4%$%+3 ;+ .D&>+&N +@$*4$%+$ 0+ O$>+ O.*.0&,) 0>$*+ @&G4$*+N >]+01&.,$%+N >*$0&O&>$%+ ,4H+%&>F 0$4 @+%D$*F3 6f&01F . H4*1&14)&,+ )+ $01O+* )+ 0>$*+ ^& >]+01&.,$%+N =%+>4H 2]+01&.,$%4* )4%+%&& #>L&** ‚"bƒN x&0>.,0&, `%&+O 9$&, :,@+,1.%} ‚"Zƒ0$4 #+H.%&$* 9$&, 2$%) 800+00H+,1 ‚"_ƒN >]+01&.,$%4* +4%.=+$, J-822 ‚"aƒ3 P+*+>[&$ $,$*(+G&>4*4& 0+ D$G+$GF =+ ,&@+*4* 0+,G$[&+& )4%+%.$0+ )+0>%&0F )+ =$>&+,13 ;$>F =+ . 0>$*F $,$*.(&>F )+ "YN )4%+%+$ +01+ )+0>%&0F *$ Z 0$4 H$& H4*1N +01+ >.,0&)+%$1$ >F &,1+%O+%F $4 H.) 0+H,&O&>$1&@ >4 >$*&1$1+$ @&+[&& ^& +*+ )+O&,&1F >$ K)4%+%+ 04D01$,[&$*Fo3 T&@+*+*+ )+ *$ " *$ b >.%+0=4,) )4%+%&& 4^.$%+N )+ *$ Z *$ a *$ )4%+%+ H.)+%$1FN &$% a'"Y *$ )4%+%+ ‚"\ƒN >%&1+%&& O.*.0&1+ B, 0>$%$ $,$*(+G&>F /#P QO&(3 "R3 ;+ . &H=.%1$,[F )+.0+D&1F $ =41+$ O& 0& )+0>%&=1.%&& O.*.0&[& )+.$%+>+ $% =41+$ O& 41&*& &, 0+=$%$%+$ )4%+%&& )+ ]= ,.>&>+=1&@ Q)+0>%&0F >$ =4*0$1&*FN k4,(]&N >%$H=FN %.0F14%FR )+ )4%+%+$ )+ 1&= ,+4%.=$1&> Q)+0>%&0F >$ $%04%FN =%4%&(&,.$0FN ^.>$,1F 0$4 *$,>&,$,1FRN )&01&,>[&+ &H=.%1$,1F )+.$%+>+ =.$1+ k4>$ 4, %.* +0+,[&$* &, $*+(+%+$ $(+,14*4& 1+%$=+41&>3 ;4%+%+$ ,.>&>+=1&@F +01+ )+ .D&>+& 1%$1$1F >4 .=&.&G&N &, @%+H+ >+ )4%+%+$ ,+4%.=$1F =.$1+ ,+>+0&1$ $)k4@$,[& )+ 1&=4* $,1&)+=%+0&@+*.% 0$4 $,1&>.,@4*0&@$,1+*.%3 :, 0OA%^&1N ,&>& . +@$*4$%+ ,4 + )+O&,&1&@F3 6*+ 1%+D4&+ =%.(%$H$1+ *$ &,1+%@$*+ %+(4*$1+N )+.$%+>+ D.$*$ 0+ $O*F B, +@.*4[&+ =+%H$,+,1F3 81A1$ @%+H+ >A1 1+%$=&$ >$4G$*F +01+ B, 0>]&HD$%+N 01&H4*&& )4%+%.^& =.1 O& ^& +& &, 0>]&HD$%+3
?Yb
4C*(*&*/ /(*>?@C@' />/C(*Q'A :,&[&+%+$ 4,+& 1+%$=&& $,$*(+G&> *$ =$>&+,14* >4 ,+.=*$G&& 1%+D4&+ 0F 4%H+G+N B, O$G+*+ &,&[&$*+N %+(4*&*+ >+*.% 1%+& 1%+=1+d 9$>&+,[&& >4 )4%+%+ 4^.$%F 0$4 04=.%1$D&*F @.% =%&H& 4, $,$*(+G&> ,.,'.=&.&)N =%+>4H H+1$H&G.*N =$%$>+1$H.*N $0=&%&,$N &D4=%.O+, 0$4 $*1 8:TP3 8>+01+ H+)&>$H+,1+ $4 *&H&1F%& &H=.%1$,1+ ^&N )+^& ,4 =%.)4> )+=+,)+,[F O&G&>F 0$4 =0&].*.(&>FN $4 4, =%$( 1+%$=+41&> =+01+ >$%+ +O+>14* *.% ,4 H$& >%+^1+3 9+ )+ $*1F =$%1+N >%+^1+%+$ ,+>.,1%.*$1F $ ).G+*.% 0$4 $)H&,&01%$%+$ *.% =+ =+%&.$)+ B,)+*4,($1+ =%+G&,1F %&0>4%& 0+H,&O&>$1&@+ )+ 1.f&>&1$1+ ]+=$1&>FN ($01%.&,1+01&,$*F 0$4 %+,$*F3 ;$>F )4%+%+$N >]&$% 4^.$%FN =+%0&01F 04D H+)&>$H+,1+ )+ 1%+$=1$ :N 1%+D4&+ $@41F B, @+)+%+ $)F4($%+$ 4,.% .=&.&G&3 ;$>F =$>&+,[&& ,4 =.1 1.*+%$ 4, $,$*(+G&> )+ (%4=$ : )$1.%&1F >.H=*&>$[&&*.% 1.f&>+N +f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‚"Xƒ3 9$>&+,[&& >4 )4%+%+ H.)+%$1F 1%+D4&+ 0F =%&H+$0>F . 1+%$=&+ )+ B,>+%>$%+ Q1%&$*R >4 4, $^$',4H&1 .=&.&) K0*$DM3 <, .=&.&) 0*$D 0+ )+O&,+^1+ >$ $>+*$ $* >F%+& +O&>$>&1$1+ H$f&HF 0+ %+$*&G+$GF ).$% B, >.HD&,$[&& O&f+ >4 $,$*(+G&>+ ,+'.=&.&)+3 8>+01+ 04D01$,[+ &,>*4) >.)+&,$N )&]&)%.>.)+&,$N ]&)%.>.).,$N .f&>.).,$ ^& =%.=.f&O+,4*3 2.HD&,$[&&*+ B, =%.=.%[&+ O&fF 04,1 $01O+* (A,)&1+ B,>A1 0F D+,+O&>&+G+ )+ $@$,1$k+*+ 0&,+%(&0H4*4& B,1%+ $>+^1& .=&.&G& ^& ,.,'.=&.&G&N 0&,+%(&0H )$1.%$1 )&O+%+,[+*.% H+>$,&0H+*.% )+ $>[&4,+ B,1%+ H+HD%&& >.HD&,$[&&*.%3 ;+ .D&>+& +O+>1+*+ >+,1%$*+ 04,1 >+*+ $*+ .=&.&G&*.%N B, @%+H+ >+ +O+>1+*+ =+%&O+%&>+ 04,1 $*+ ,.,'.=&.&G&*.%3 7+01%&>[&&*+ 1+%$=+41&>+ 04,1 *&H&1$1+ )+ .D&>+& )+ >F1%+ ).G$ H$f&HF )+ ,.,'.=&.&) $)H&0F3 ;+ +f3 ,4 0+ =.1 )+=F^& b'_ ( )+ =$%$>+1$H.* =+ G&N B, .%&>+ >.HD&,$[&+N )&, >$4G$ %&0>4%&*.% )+ 1.f&>&1$1+ ]+=$1&>F3 9%.=.f&O+,4* ,4 +01+ %+>.H$,)$1 =+,1%4 O.*.0&%+$ )+ %41&,F )+.$%+>+ $%+ 4, 1&H= )+ B,k4HF1F[&%+ *4,( ^& +f&01F %&0>4* $>4H4*F%&& 4,4& H+1$D.*&1 1.f&>N ,.%'=%.=.f&O+,4*3 <, $*1 .=&.&) )+ 1%+$=1$ $ ?'$ +01+ D4=%+,.%O&,$N >+ 0+ $)H&,&01%+$GF 04D*&,(4$*N >4 )4%$1$ *4,(F )+ $>[&4,+ ^& +O+>1 %$=&)3 P+ O.*.0+^1+ H$& $*+0 B, )4%+%& $>41+ ^& B, =.01 .=+%$1.%N )+>A1 B, )4%+%& >%.,&>+3 ;+ $0+H+,+$N 1%+D4&+ %+0=+>1$1F =+%&.$)$ )+ n~$0].41M Q+*&H&,$%+ )&, 0&01+HR )+ H&,&H SY )+ .%+N )+.$%+>+ O&&,) 4, $(.,&01r$,1$(.,&01 =$%[&$* $* %+>+=1.%&*.% .=&.&G&N @$ %+)4>+ B, H.) 0+H,&O&>$1&@ +O+>14* H.%O&,+&3 2.)+&,$ +01+ *&H&1$1F )+ %&0>4* $=$%&[&+& )+ +O+>1+ 0+>4,)$%+ *$ ).G+ H$& H$%& )+ "NZ H(rj(N &$% 41&*&1$1+$ ]&)%.>.).,+& 0$4 .f&>.).,+& +01+ %+)40F )+ >.HD&,$[&&*+ B, =%.=.%[&+ O&fFN B, >$%+ ,4 =.1 )+=F^& "Z H( *$ b .%+3 9$>&+,[&& >F%.%$ *+ 04,1 =%+0>%&0+ H+)&>$H+,1+ =%+>4H >]&,&)&,FN O*4.f+1&,F 0$4 $*[& &,]&D&1.%& )+ 2€9?;_ >.)+&,$ B, H.%O&,FN>&H+1&)&,F ^& )+ $>++$0$4 +O+>14* =%+=$%$14*4& +01+ O.$%1+ %+)40 0$4 ,4*3,4 =.1 >.,@+%1& 5.*+%$,[$ *$ .=&.&G& +01+ %$%F ^& =.$1+ O& +@&1$1F =%&, 1&1%$%+$ ).G+*.%3 /=&.&G&& )+ 1%+$=1$ $ :::'$ 04,1 =%+0>%&^& =+,1%4 1%$1$H+,14* )4%+%&& H.)+%$1+ 0=%+ 0+@+%+N ^& &,>*4) H.%O&,$N .f&>.).,$N ]&)%.>.).,$N ]&)%.H.%O.,$N H+1$).,$ ^& O+,1$,&*4*3 8>+01+ H+)&>$H+,1+ .O+%F $,$*(+G&+ +O&>&+,1F *$ a"'"YY{ )&, =$>&+,[&N $14,>& >A,) +01+ O.*.0&1F $)+>@$13 6f&01F . H4*1&14)&,+ )+ (]&)4%& =%$>1&>+N >+ .O+%F B,)%4H$%+ &, >++$ >+
?YZ
=%&@+^1+ ).G$k+*+N 1&H=&& )+ $)H&,&01%$%+N =%+>$4[&&N $0.>&+%& ^$H) ‚?Yƒ3 9+ )+ $*1F =$%1+N $=%.$=+ . 1%+&H+ )&, =$>&+,[& ,4 %F0=4,) *$ H.%O&,F 0$4 =%+G&,1F +O+>1+ 0+>4,)$%+ +f>+0&@+N >++$ >+ &,1%.)4>+ ,+>+0&1$1+$ )+ $ $)F4($ H+1$).,F *$ 4, $*1 .=&.&)N >++$ >+ $ BHD4,F1F[&1 >.,1%.*4* )4%+%&& ^& 0'$ ).@+)&1 $ O& 0&(4%N D&,+ 1.*+%$1 ^& =%$>1&> ‚?"ƒ3 2+$ H$& 41&*&G$1F +01+ H.%O&,$N )$1.%&1F )&0=.,&D&*&1F[&& 0$*+N $ O.%H+*.% H+)&>$H+,1.$0+ @$%&$1+ ^& $ =%.=%&+1F[&*.% 0$*+ O$%H$>.*.(&>+ D&,+ >$%$>1+%&G$1+3 ;+'$ *4,(4* 4*1&H+*.% )+>+,&&N O.%H+*+ H+)&>$H+,1.$0+ .%$*+ >4 +*&D+%$%+ >.,1%.*$1F =+,1%4 $)H&,&01%$%+ *$ "? .%+ $4 O.01 H.)$*&1$1+$ =%&,>&=$*F )+ $)H&,&01%$%+ $ .=&.&G&*.% B, >$,>+%N B, ).G+ .%$*+ )+ "Z H( f _rG& &$% =$%+,1+%$* Z H( f _rG&3 / $*1+%,$1&@F +O&>$>+ *$ H.%O&,F =.$1+ O& .f&>.).,$N OF%F $)$.0 )+ =$%$>+1$H.* 0$4 $0=&%&,FN B, ).G+ )+ aNZ'"Y H( f _ G& .%$*3 8@$,1$k4* =%&,>&=$* $* ]&)%.H.%O.,4*4& +01+ 0.*4D&*&1$1+$ 0$ )+ ^$0+ .%& H$& H$%+ B, $=F )+>A1 H.%O&,$ ^& +01+ )+ b .%& H$& =41+%,&>FN =+%H&[A,) $)H&,&01%$%+$ )+ @.*4H+ H$& H&>& B, &,k+>[&+ 0$4 =+%O4G&+ QYNaZ'"NZ H( f _rG&R3 J+,1$,&*4* =.$1+ O& $)H&,&01%$1 B, =*$014%& 1%$,0)+%H&>& >+ =.1 >.,1%.*$ )4%+%+$ >>$ a? )+ .%+ ^& 04,1 O.$%1+ 41&*& H$& $*+0 =+,1%4 =$>&+,[& >+ ,4 =.1 =%&H& H+)&>$[&+ .%$*F ‚"ƒ3 / O.%H4*$%+ ,.4FN 0=%$}4* ,$G$* >4 O+,1$,&*'=+>1&,FN =$%+ =%.H&[F1.$%+3 P&01+H4* )+ +*&D+%$%+ D$G$1 =+ =+>1&,F BHD4,F1F[+^1+ $D0.%D[&$ 1%$,0H4>.$0F $ O+,1$,&*4*4&N &$% $)H&,&01%$%+$ 1%$,0',$G$*F BHD4,F1F[+^1+ >.,>+,1%$[&$ =*$0H$1&>F >A1 ^& @&1+G$ )+ .D[&,+%+ $ $>+01+&$3 #+=+%&)&,$ ,4 0+ $)H&,&01%+$GF )+.$%+>+ $%+ 1&H= )+ B,k4HF1F[&%+ O.$%1+ 0>4%1N &$% H+1$D.*&14* 0F4N ,.%H+=+%&)&,$ +01+ 1.f&>3 8(.,&^1&&'$,1$(.,&^1& H&>^1& )+ 1&= =+,1$G.>&,FN D41.%O$,.*N )+G.>&,F 0$4 ,$*D4O&,F ,4 04,1 %+>.H$,)$[& )$1.%&1F O$=14*4& >F $4 . +O&>$>&1$1+ H$f&HF 0>FG41F ^& =.1 >]&$% &,)4>+ . %+$>[&+ )+ 0+@%$k >A,) +01+ $)H&,&01%$1F *$ =$>&+,[&& >+ &$4 H.%O&,F ‚??ƒ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‚?Sƒ3 0J*A@C ?&/?/H*>?@C@' A@ )G')'Q' 2+* H$& O%+>@+,1 H.1&@ +01+ >F ).G+*+ ,+>+0$%+ =+,1%4 >.,1%.*4* )4%+%&& ,4 =.1 O& $)H&,&01%$1+ )&, >$4G$ +O+>1+*.% 0+>4,)$%+ &,1.*+%$D&*+3 5.*+%$,[$ O$%H$>.*.(&>F =.$1+ O& . $*1F >$4GFN )$1.%&1F &,)4>+%&& 1.*+%$,[+& *$ .=&.&G&3 5.*+%$,[$ =.$1+ O& >%+$1F )+ 41&*&G$%+$ >%.,&>F )+ $*>..* 0$4 D$%D&14%&>+N >++$ >+ &,)4>+ >&1.>%.H4* 9bZYN %+)4>A,) +O+>14* O$%H$>.*.(&> 3 :, $* ).&*+$ %A,)N $>1&@$%+$ >%.,&>F $
?Y_
%+>+=1.%&*.% &,)4>+ 0>F)+%+$ 0+,0&D&*&1F[&& *$ $(.,&01N >$ H+>$,&0H >.H=+,0$1.%3 :, 0OA%^&1N &,1+,0&1$1+$ )4%+%.$0F ,4 %FHA,+ >.,01$,1FN >++$ >+ O$>+ >$ 1&1%$%+$ 0F O&+ )&O&>&*F3 ‚?bƒ l&=+%$*(+G&$ :,)40F )+ /=&.&G& Ql:/RN +01+ . +,1&1$1+ >*&,&>F B, >$%+ =$>&+,[&& =%+G&,1F B,%F41F[&%+$ )4%+%&& ^& 0&H=1.H$1.*.(&+ $,.%H$*FN =%+>4H $*.)&,&$N &, >&4)$ >%+^1+%&& ).G+*.% )+ .=&.&) ‚?Zƒ3 l:/ =$%+ $ O& . )+G@.*1$%+ 0&H4*1$,F $ 4,4& =%.>+0 =%.',.>&>+=1&@ $0.>&$1 >4 4, O+,.H+, )+ )+0+,0&D&*&G$%+N )+^& =%.=.%[&$ $>+01.%$ +01+ B,>F ,+>*$%F 3 9%+@+,&%+$ +^+>4*4& 1%$1$H+,14*4& >4 .=&.&G& 0+ O$>+ =%&, %.1$[&$ .=&.&G&*.%3 2]&$% B, >.,)&[&&*+ 4,+& &,&[&+%& ^& 1&1%F%& >.%+>1+ $ 1+%$=&+& .=&.&)+N +O&>$>&1$1+$ >*&,&>F $ 1%$1$H+,14*4& =.$1+ 0>F)+$ 1%+=1$1N )&, H.1&@+*+ =%+G+,1$1+ H$& 0403 2%+^1+%+$ ).G+*.% =.$1+ )4>+ *$ $=$%&[&$ )+ +O+>1+ $)@+%0+ ,+).%&1+3 C, $>+01+ >$G4%&N 0+ &$ B, >.,0&)+%$%+ >.,@+%0&$ >F&& )+ $)H&,&01%$%+ ^&r0$4 %.1$[&$ .=&.&G&*.%3 8>+$01$ +01+ . 01%$1+(&+ 1+%$=+41&>F &, >$%+ =%&H4* .=&.&) $)H&,&01%$1 +01+ .=%&1 ^& B,*.>4&1 >4 4, $*14*3 #.1&@+*+ 4,+& $01O+* )+ 0>]&HDF%& =.1 O& 04H$%&G$1+ $01O+*d >4=*$%+$ %+>+=1.%&*.% H QO+,1$,&* ^& H+1$).,FR <1&*&G$%+$ ^& $*1.% %+>+=1.%& )+>A1 H Qj =+,1%4 .f&>.).,FN ) =+,1%4 H+1$).,F 0& *+@.%O$,.*N /7- '" =+,1%4 D4=%+,.%O&,FR 8O&,&1F[& @$%&$D&*+ ^& =+,1%4 $*[& %+>+=1.%& ,.,'.=&.&G& &H=*&>$[& B, $,$*(+G&+ QT#;8 ^& H.,.$H&,+ =+,1%4 H+1$).,F ^& *+@.%O$,.*R ‚?_ƒ3 5*&/G'* /+]@I/>?F 8>+$01$ >%+^1+ +O&>$>&1$1+$ $,$*(+G&>F $ .=&.&G&*.%N 1%$1+$GF 0&H=1.H$1.*.(&$ >.,>4%+,[&$*F >+ $% =41+$ +f$>+%D$ )4%+%+$ 0$4 =%.)4>+ $,$*(+G&+ &,)+=+,)+,1F =+,1%4 1&=4%& 0=+>&O&>+ )+ )4%+%+3 9%&,1%+ >+*+ H$& O.*.0&1+ H+)&>$H+,1+ >$ $)k4@$,1+ $*+ $,$*(+G&+& &, >$,>+% 04,1 >.%1&>.01+%.&)+*+3 ;+f$H+1$G.,$ 0& =%+),&0.,4* $4 +O+>1+ $,1&'+)+H$1.$0+ 0& $,1&&,O*$H$1.%&&N =.1 %+)4>+ $>1&@&1$1+$ +*+>1%&>F 0=.,1$,F B, ,+%@&& =+%&O+%&>& *+G$[& 0& )+ $0+H+,&N BHD4,F1F[+0> $=+1&14* ^& 01$%+$ )+ 0=&%&1N %+)4> (%+[4%&*+ 0& 01$%+$ )+ %F4N >]&$% B, ).G+ H&>&3 P4,1 )+.0+D&1 )+ 41&*& &, )4%+%&*+ .0.$0+ 0+@+%+ Q&,)40+ )+ H+1$01$G+ .0.$0+ 0$4 B, >.H=%+0&4,&*+ )+ >$,$* H+)4*$%R 0$4 B, )4%+%&*+ ,+4%.=$1+3 J.*.0&%+$ =+ 1+%H+, *4,(N H$& $*+0 B, ).G+ H$%&N $4 +O+>1+ 0+>4,)$%+ =+%&>4*.$0+ ‚?aƒ3 #+>$,&0H4* =%&, >$%+ >.%1&>.01+%.&G&& BHD4,F1F[+0> )4%+%+$ &, >$,>+% 04,1 ,4H+%.$0+N =%&,1%+ >$%+ >+*+ H$& &H=.%1$,1+ =$% $ O&d ' &,]&D$%+$ +f=%+0&+& >.*$(+,$G+&N +,G&HF +0+,[&$*F &, )+(%$)$%+$ [+0414%&*.% ' %+)4>+ 0&,1+G$ )+ >&1.j&,+ =%.&,O*$H$1.$%+ ' 01&H4*+$GF 0&,1+G$ )+ *&=.>.%1&, Q].%H., *.>$* >+ &,]&DF =%.)4>[&$ )+ +&>.0$,.&G&R ' H.)4*+$GF %+>+=1.%&& L8`8N T#;8 ^& 9?yN >$%+ $4 %.*4%& >%4>&$*+ &, %+(*$%+$ 0+,G$[&+& )4%+%.$0+ 4(*>S' G*>?&@ +@&*&*/ >*@&)G/?F 8,1&)+=%+0&@+*+ 1%&>&>*&>+ )+ 1&= $H&1%&=1&*&,FN ).f+=&,N &H&=%$H&,F 04,1 O%+>@+,1 O.*.0&1+ &, )4%+%+$ )&, >$,>+% H$& $*+0 B, )4%+%+$ ,+4%.=$1F3 #+>$,&0H+*+ *.% )+ $>[&4,+ 04,1 D$G$1 =+ &,]&D&[&$ %+>$=1F%&& ,.%$)%+,$*&,+& 0& 0+%.1.,&,+& &, PT2N H.)4*$%+$ >$,$*+*.% )+ 0.)&4 ^& >%+$%+$ )+ D*.>$k+ ($,(*&.,$%+ *$ ,&@+*4* L79 Q($,(*&.,4* )+ =+ %F)F>&,$ =.01+%&.$%F $ ,+%@4*4& 0=&,$*R =%&, &,]&D&[&$ %+>+=1.%&*.% T#;83
?Ya
6O+>14* *.% +01+ >4 $1A1 H$& +O&>$>+N >4 >$1 +& %+)4> ^& )+=%+0&$ $0.>&$1F >4 )4%+%+$ ^& >4 01$%+$ )+ D.$*F3 6O+>1+*+ *.% )+ >.'$,$*(+G&> $=$% *$ ).G+ H$& %+)40+ )+>A1 >+*+ ,+>+0$%+ =+,1%4 .D[&,+%+$ +O+>14*4& $,1&)+=%+0&@3 ;+.$%+>+ 04,1 =41+%,&> $,1&>.*&,+%(&>+N 41&*&G$%+$ *.% +01+ $01O+* %+)40F )+ %+$>[&&*+ $)@+%0+3 :H&=%$H&,$N )+0&H&=%$H&,$ ^& ,.%1%&=1&*&,$ 04,1 >.,0&)+%$1+ H$& 0&(4%+ )+>A1 $H&1%&=1&*&,$ ‚?\ƒ3 2$ ^& >.'$,$*(+G&>+ 0+ O.*.0+0> PT7: Q&,]&D&1.%& ,+0=+>&O&>& $& %+>+=1F%&& )+ 0+%.1.,&, ' ,.%$)%+,$*&,FR )+ 1&= @+,*$O$f&,F ^& )4*.f+1&,F 04,1 H+)&>$H+,1+ )+ +*+>[&+ &, )4%+%+$ >$,>+%.$0F ,+4%.=$1F3 7&0>4%&*+ =%&,>&=$*+ 04,1 %+=%+G+,1$1+ )+ +=&0.$)+ )+ ]&=+%1+,0&4,+N 14*D4%F%& ($01%.&,1+01&,$*+N )$% >$%+ %$%+.%& ,+>+0&1F B,1%+%4=+%+$ $)H&,&01%F%&&3 ;4*.f+1&,$ +01 4, $(+,1 %+*$1&@ ,.4 B, O$H&*&$ PT7:3 5&1%$%+$ )$1+& )4%+$GF >>$3 ? 0F=1FHA,&N )$% +01+ +O&>&+,1F 0& ,4 0'$ %$=.%1$1 >$%)&.1.f&>&1$1+3 `4=%.=&., +01+ 4, $,1&)+=%+0&@ >4 +O+>1 PT7:N >4 $>[&4,+ $1A1 >+,1%$*F >A1 ^& =+%&O+%&>F3 601+ $*+0 B, =%&,>&=$* )$1.%&1F $>[&4,&& 0$*+ )+ 01&H4*$%+ $ PT2N >++$ >+'* O$>+ O.$%1+ 41&* *$ =$>&+,[&& >+ 04O+%F )+ $01+,&+ ^& 0.H,.*+,[F3 ;$1.%&1F B,0F +O+>1+*.% 0$*+ 01&H4*$1.$%+N 1%+D4&+ $)H&,&01%$1 >4 =%+>$4[&+ *$ =$>&+,[& >4 %&0> )+ >.H&[&$*&1$1+ 0& *$ >+& >4 &,$=+1+,[FN H$& $*+0 *$ >+& =%+)&0=4^& *$ >$^+f&+ ,+.=*$G&>F3‚?Xƒ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‚SYƒ3 #+)&>$H+,14* B^& +f=*&>F $>[&4,+$ =%&, D*.>$%+$ >$,$*+*.% )+ T$3 P+ >4,.0> H$& H4*1+ 04D1&=4%& ,.1$1+ >4 T$@ "3" =$,F *$ "3X3 T$@"3aN "3\ 0& "3X 04,1 +f=%&H$[& ,4H$& *$ ,&@+*4* ,+4%.,&*.% 0+,G.%&$*& =+%&O+%&>& ^& 0+ >.,0&)+%F >F 04,1 &H=*&>$[& $1A1 B, &,&[&+%+$ )4%+%&& $>41+ >A1 ^& B, H+,[&,+%+$ ]&=+%$*(+G&+& &,O*$H$1.%&& =.01'*+G&.,$*+3 2$,$*+*+ T$@ "3bN "3_N "3aN 04,1 0+,0&D&*+ *$ 1+1%.).1.f&,F Q55yRN B, @%+H+ >+ T$ @ "3ZN "3\N "3XN 04,1 %+G&01+,[& *$ $>+$01$ ‚S"N S?ƒ3 P4D1&=4* T$@ "3a +01+ +f=%&H$1 B, H.) 0+H,&O&>$1&@ B, ,+4%.,&& )&, ($,(*&.,4* %F)F>&,&& =.01+%&.$%+ QL79R B, ,+4%.,&& 0&H=$1&>& ^& H&+,1+%&>&N B, @%+H+ >+ T$ @ "3\ 04,1 +01+ +f=%&H$1 =%+O+%+,[&$* B, L79 ^& B, ($,(*&.,4* L$00+%3 601+ D&,+ ).>4H+,1$1F &H=*&>$[&$ 0$ B, )4%+%+$ &,O*$H$1.%&+ ^& B, )4%+%+$ &,)40F )+ 01&H4* %+>+ ‚SSƒ3 601+ >4,.0>41 O$=14* >F 04D1&=4* T$ @"3a +01+ 0+,0&D&* *$ >$%D$H$G+=&,$ ^& )+ $0+H+,+$ >F H41$[&&*+ 0$*+ =%.)4> . 0+%&+ )+ 0&,)%.$H+ )4%+%.$0+ +%+)&1$%+ ‚Sbƒ3 T$@"3X +01+ +f=%&H$1 B, ,+4%.,&& 0+,G.%&$*& ^& B, 0&01+H4* ,+%@.0 +,1+%&>N H$& $*+0 B, ,+4%.,& )+ )&H+,0&4,& H&>& >4 =%.=%&+1F[& ,.>&>+=1&@+3 C, *4H&,$ $>+01.% >4,.^1&,[+ T$@"3aN "\3 ^& "X $% =41+$ O& [&,1+ &H=.%1$,1+ =+,1%4 $,$*(+G&>+ ‚SZƒ3 #+>$,&0H4* )+ $>[&4,+ $* $>&)4*4& @$*=%.&> >.,01F B, &,]&D$%+$ L8`8'1%$,0$H&,$G+&N +,G&HF %+0=.,0$D&*F )+ )+(%$)$%+$ L8`8 ^& >%+^1+%+$ $>1&@&1F[&& $>&) (*41$H&> )+>$%D.f&*$G+&N $>[&.,A,) &,)&%+>1 =+ L8`8 ‚S_ƒ3 -&1+%$14%$ )+ 0=+>&$*&1$1+ $)4>+ B, +@&)+,[F ^& $*1+ H+>$,&0H+ )+ $>[&4,+ =.0&D&*+ >$%+ $% =41+$ >.,1%&D4& *$ +O+>14* $,1&,.>&>+=1&@ Q$1+,4$%+$
?Y\
H+)&$[&+& +f>&1$1.%&& =%&, T#;8N D*.>$%+$ >$,$*+*.% )+ T$N 2$*>&4 @.*1$k )+=+,)+,1+ Q1&= -N 2N ;N TN JN 5R ^& >$,$*+*.% )+ =.1$0&4 @.*1$k )+=+,)+,1+R ‚Sa'SXƒ 8*1+ 014)&& )+H.,01%+$GF >F $>&)4* @$*=%.&> %+)4>+ ,4HF%4* )+ *+4>.>&1+N ^& +*&D+%$%+$ )+ H&+*.=+%.f&)$G$ B, +f04)$14* =+%&1.,+$* B, H.)+*4* )+ =+%&1.,&1F >4 >$%%$(++,$, >$%+ =%.)4>+ 4, %F0=4,0 &,O*$H$1.% >4 &,O&*1%$1 )+ ,+41%.O&*+ &H=*&>F +f04)$%+ )+ =*$0HF H&(%$%+ >+*4*$%F ^& +*&D+%$%+ )+ H+)&$1.%& )+ 1&=4* T/N 9L6?N :-'" D+1$N :-'_N 5TJ'$*O$3 ‚S_N bYƒ3 ;.$% @$*=%.$14* $ .O+%&1 . 0>F)+%+ )+ Z_{ $ &,1+,0&1F[&& )4%+%.$0+N B, >.,)&[&&*+ >.' $)H&,&01%F%&& >4 .=&.&G& ‚b"ƒ3 2*.,$G+=$H4*N . D+,G.)&$G+=&,F >4 $O+>1 $04=%$ %+>+=1.%&*.% L8`8 ^& >$%+ 01&H4*+$GF 0+H,$*&G$%+$ L8`8+%(&>FN +01+ O.*.0&1 >$ $,1&>.,@4*0&@$,1 0& >.$,$*(+G&>3 5.14^&N k4HF1$1+ )&, =$>&+,[& $4 $>4G$1 *&=0F )+ +O&>$>&1$1+ 0$4 $H+[+*&N >$%+ $4 OF>41 0F $D$,).,+G+ 014)&&*+ ‚b?ƒ3 %/K/G*>?'>)'+*C* 9%&,>&=$*+*+ H+)&>$H+,1+ $,1&+=&*+=1&>+ 41&*&G$1+ B, )4%+%+$ >$,>+%.$0F 04,1 ($D$=+,1&,4* ^& =%+($D$*&,4*3 8>&)4* |'$H&,.D41&%&> +01+ 4, ,+4%.1%$,0H&1$1.% &H=.%1$,1 B, L79 ^& $%+ %+>+=1.%& =%.=%&&N ,4H&[& %+>+=1.%& L8`83 L$D$=+,1&,4* $>[&.,+$GF =%&, 0>F)+%+$ +*&D+%F%&& )+ (*41$H$1N ,.%$)%+,$*&,F ^& 04D01$,[F 9N %+)4>A,) >4%+,14* =%&, >$,$*+*+ )+ >$*>&4 @.*1$k')+=+,)+,1+3 L$D$=+,1&,4* &,]&DF )4%+%+$ $1A1 *$ ,&@+* =+%&O+%&>N %+)4>A,) )4%+%&*+ )&, 14H.%&N >+*+ &,)40+ )+ >]&H&.1+%$=&+N >$ ^& D4O+4%&*+ )+ >F*)4%F &$1%.(+,&>+ ^& (%+[4%&*+r@F%0F14%&*+ $0.>&$1+ >4 H4>.G&1+*+ )+ &%$)&+%+3 ;+^& 014)&&*+ )+ $*(+G&.*.(&+ $4 )+H.,01%$1 %+G4*1$1+ +>]&@.>+ B, =%&@&,[$ $>[&4,&& 0$*+ $,$*(+G&>+ $)H&,&01%$1F 0&,(4%FN ($D$=+,1&,$ O4,>[&.,+$GF .=1&H B, $0.>&+%+ >4 .=&.&G&&N H$& $*+0 =+,1%4 1%$1$H+,14* $*.)&,&+&N >$%+ +01+ H$& (%+4 )+ >.,1%.*$13 2+*+ H$& .D&^,4&1+ +O+>1+ 0+>4,)$%+ &,>*4) $H+[+*&*+ ^& 0.H,.*+,[$N +)+H+ *$ H+HD%+*+ &,O+%&.$%+N $01+,&+ ^& 40>F>&4,+$ (4%&&3 ‚bSƒ <&*(/K/C'> 8%+ $>+*$^& H.) )+ $>[&4,+ =%+>4H ($D$=+,1&,$N )$% $%+ . $O&,&1$1+ H$& H$%+ =+,1%4 >$,$*+*+ )+ >$*>&4 @.*1$k')+=+,)+,1+3 5&H=4* )+ &,01$*$%+ $ $>[&4,&& +01+ H$& %$=&) )+>A1 =+,1%4 ($D$=+,1&,F3 #+)&>$H+,14* BHD4,F1F[+^1+ 0.H,4*N >$*&1$1+$ @&+[&& ^& +01+ H$& +O&>&+,1 B, >.'$)H&,&01%$%+ >4 .=&.&G&&N =+%H&[A,) %+)4>+%+$ ).G+& $>+01.%$3 6O+>1+*+ *&H&1$,1+ $*+ ).G+*.% 04,1 0.H,.*+,[$ ^& $H+[+*&*+3 P'$ *4$1 B, >.,0&)+%$%+ ^& =%+0>%&+%+$ *$H.1%&(&,+&N )$% %+G4*1$1+*+ 4,4& ,.4 %+@&+~ 2.>]%$,+ $4 )+H.,01%$1 >FN B, >.,)&[&&*+ +f&01+,[+& =%+($D$*&,+& ^& ($D$=+,1&,4*4&N *$H.1%&(&,$ ,4 +01+ &,)&>$1F =+,1%4 )4%+%+$ >$,>+%.$0F3 8,1&>.@4*0&@$,1+*+ )+ (+,+%$[&$ $ ).4$ Q*+@+1&%$>+1$HN .f>$%D$G+=&,$N 1&$($D&,$N 1.=&%$H$14*R ,4 $4 ).@+)&1 . +O&>&+,[F >%+0>41F B, )4%+%+$ ,+4%.=$1F )&, >$,>+%N )$% +01+ =.0&D&* )+ $ O& *4$1+ B, >.,0&)+%$%+N $@A,) B, @+)+%+ >F +O+>1+*+ *.% 0+>4,)$%+N %+$>[&&*+ $)@+%0+ ^& &,1+%$>[&4,&*+ H+)&>$H+,1.$0+ H$& %+)40+ *+'$% =41+$ O$>+ >$,)&)$[& =+,1%4 H+)&>$[&+ $)k4@$,1F B, @&&1.%3 ‚bb'b_ƒ3 4>?/()>'J?'' T#;8,6N4 +01+ 4, ,+4%.1%$,0H&[F1.% +f>&1$1.%N >4 4, %.* 0+H,&O&>$1&@ H$& $*+0 B, )4%+%+$ ,+4%.=$1FN )$1.%&1F )+G+>]&*&D%4*4& B,1%+ +f>&1$[&+ ^& &,]&D&[&+3 •+1$H&,$ +01+ >+* H$& =41+%,&> $,1$(.,&01 T#;8 ^& &,]&DF ,+4%.,&& L79N O&&,) 4, $,+01+G&> ^& $,$*(+G&> O.$%1+ D4,3 8%+ )+ $0+H+,+$ ^& +O+>1+ $,1&&,O*$H$1.$%+N )$% %+$>[&&*+ 0$*+ $)@+%0+ O.$%1+ 0+%&.$0+N >$ ^& 1.f&>&1$1+$ ]+=$1.'%+,$*F B* O$> 0F O&+ O.$%1+ )&O&>&* )+ $)H&,&01%$13 P+ O.*.0+^1+ ).$% *$
?YX
=$>&+,[&& >4 )4%+%+ >$,>+%.$0F +f1%+H )+ =41+%,&>FN )+ .D&>+& B, 0=&1$* 0$4 B, >+,1%+ )+ B,(%&k&%+ ^& ,4H$& 04D >.,1%.*4* $,+01+G&014*4& 0$4 $*(+G&.*.(4*4& ‚baƒ3 4>?'>*I&/C('A*C* C)A/C* 8,$*(+G&$ *.>$*F =.$1+ O& 4, $)k4@$,1 41&* *$ 1%$1$H+,14* >4 .=&.&G& 0&r0$4 >.' $,$*(+G&>+3 ;'+)A/'>/ +01+ 4, D*.>$,1 ,+0=+>&O&> $* >$,$*+*.% )+ 0.)&4 *$ ,&@+*4* O&D%+*.% $O+%+,1+N =%.)4>A,) $01O+* $,+01+G&+3 8)H&,&01%$1F >$ ^& =*$014%+ 0$4 (+*N +01+ +O&>&+,1FN )+.$%+>+ ,4 $%+ $D0.%D[&+ 0&01+H&>F 0+H,&O&>$1&@F3 9.$1+ O& $)H&,&01%$1F ^& 0&01+H&>N >4 +O+>1+ B,>F ,+>*$%+3 <, 014)&4 >.,1%.*$1 $ )+H.,01%$1 >F *&).>$&,$ $)H&,&01%$1F B, D.*40 &,1%$@+,.0 ? H(rj(N 4%H$1F )+ =+%O4G&+ )+ ? H(rj( =+ .%F $ O.01 +O&>&+,1F B, 1%$1$%+$ )4%+%&& ,+4%.=$1+ >$,>+%.$0+ %+O%$>1$%F *$ .=&.&G&N >4 +O+>1+ $)@+%0+ H&,.%+ =%+>4H 1&,,&140 ^& $H.%[+$*F =+%&.%$*F3 ;$1.%&1F =.1+,[&$*4*4& )+ $ (+,+%$ $%&1H&&N ,4 +01+ &,)&>$1F *$ =$>&+,[&& >4 14*D4%F%& )+ %&1H 0$4 >$%+ &$4 ^& H+)&>$H+,1+ $%&1H&>+ ‚b\ƒ3 9/G./'A'>/ +01+ 4, =%.)40 ,$14%$* >+ 0+ (F0+^1+ B, $%)+& ^& +01+ 4, *&($,) 0=+>&O&> $& %+>+=1.%&*.% 579g" Q1%$,0&+,1 %+>+=1.% =.1+,1&$* @$,&**.&) "R3 2A,) 0+ >4=*+$GF =+ %+>+=1.%4* 579g"N >$=0$&>&,$ =%.)4>+ 4, &,O*4f )+ >$*>&4 *$ ,&@+*4* %+>+=1.%&*.% 1+%H&>&N =%.)4>A,) . 0+,G$[&+ )+ >F*)4%F ^& . )+0+,0&D&*&G$%+ $ %+>+=1.%&*.% ,.>&>+=1&@&N &$% =+ 1+%H+, *4,( )4>+ *$ )+=*+[&$ )+ 04D01$,[F 93 9*$014%&& >4 ).G+ H$%& >.,[&, \{ >$=0$&>&,FN >4 D+,+O&>&& >*$%+ B, )4%+%+$ ,+4%.=$1F B, (+,+%$*3 7+$>[&&*+ $)@+%0+ >.H4,+ &,>*4) +%&1+H *.>$*N =%4%&1N +)+H ^& 4,+.%& >%&G+ ]&=+%1+,0&@+ 0$4 D4O+4%& )+ >F*)4%F‚bXƒ3 2$,$D&,.&G&& 04,1 +O&>&+,[& =+,1%4 %+)4>+%+$ )4%+%&&N >%+^1+%+$ =.O1+& )+ HA,>$%+ ^& 04=%+0&$ (%+[4%&*.%3 6f&01F ).4F 1&=4%& )+ %+>+=1.%& >$,$D&,.&G&d 2`"N H$& O%+>@+,1 B,1A*,&1 B, PT2 ^& 2`?N H$& $>1&@ *$ =+%&O+%&+3 8>[&4,+$ $,$*(+G&>F $ >$,$D&,.&G&*.% =$%+ $ O& *.>$*&G$1F 04=%$0=&,$*N H$& $*+0 *$ ,&@+*4* 04D01$,[+& >+,4^&& =+%&$=+)4>1$*+N 1$*$H404*4& ^& $H&()$*+&N 4,)+ 0+ =%.)4>+ $,1&,.>&>+=[&+ O&G&.*.(&>F3 9+ )+ $*1F =$%1+N ^& $)H&,&01%$%+$ &,1%$1+>$*F )+ >$,$D&,.&G& =%.)4>+ $,1&,.>&>+=[&+ ^& 04=%&HF $>1&@$%+$ ,+4%.,$*F ,.>&>+=1&@F3 8(.,&^1& >$,$D&,.&G& )+ 1&= *+@.,$,1%$).*N x:TZZN?"?'? ^& 29NZZNXbY 04=%&HF %F0=4,04%&*+ +@.>$1+ )+ O&D%+*+ 2 *$ ,&@+* L793 p'X'5+1%$]})%.>$,,$D&,.*4*N =%&,>&=$*4* >$,$D&,.&) )&, =*$,1$ )+ >$,$D&0N +01+ 4, $(.,&01 =$%[&$* $1A1 2`" >A1 ^& 2`?3 9+ H.)+*+ $,&H$*+N >$,$D&,.&G&& ^& .=&.&G&& 04,1 0&,+%(&> $,$*(+G&>&3 :, ?Y"?N 4, ,.4 $(+,1 )+ 1&= >$,$D&,.&)N ,$D&f&H.*0N $ O.01 014)&$1 =+ =$>&+,[&& >4 )4%+%+ >$,>+%.$0FN =+ 4, 014)&4 )4D*4'.%DN )+H.,01%A,)4'0+ 4, +O+>1 0+H,&O&>$1&@ )+ BHD4,F1F[&%+ $ )4%+%&&N )$% 014)&4* $ O.01 =%+$ H&> =+,1%4 $ >+%1&O&>$ +O+>14* D+,+O&> $* $>+01.% H+)&>$H+,1+ ‚ZY'Z?ƒ3 J&+>$%+ =$>&+,1 +01+ 4,&>N >4 %+=%+G+,1F%& =%.=%&& ^& )&O+%&1+ $*+ )4%+%&&3 ;4%+%+$ >$,>+%.$0F +01+ H$& >.H=*&>$1F ^& ,4 +01+ B,1.1)+$4,$ =.0&D&* 0F 0+ 1%$1+G+ $)+>@$1 ^& 04O&>&+,1 ,4H$& =+ >$*+ H+)&>$H+,1.$0F3 814,>& >A,) H+)&>$H+,1+*+ ,4 04,1 04O&>&+,1+ 0$4 ,4 04,1 $)+>@$1+N 1%+D4&+ $=*&>$1+ ^& $*1+ 1+],&>&3 5*&/G'' >*A)>I*>S')>/C* ")C).'>+ H']C)/A* "/&H/A)C)('A* 5+%$=&$ H+)&>$H+,1.$0F &,1%$1+>$*F +01+ . 1+],&>F =%&, >$%+ 0+ O$> &,k+>[&& +=&)4%$*+ 0$4 &,1%$1+>$*+ >4 $,+01+G&>+ *.>$*+N >4 0$4 OF%F .=&.&G&3 9+,1%4 =+%O4G&&*+ +=&)4%$*+ + O.*.0+0> =.H=+ 0=+>&$*+ >$%+ $)H&,&01%+$GF )+D&1+ H$%& Q?'"Y H*r.%FR )+ 0.*4[&& )+ $,+01+G&>+ *.>$*+3 8)H&,&01%$%+$ &,1%$1+>$*F ,+>+0&1F @.*4H+ H$& H&>& ^& =.H=+*+ =.1 O& &H=*$,1$1+ 04D>41$,
?"Y
0$4 $1$^$1+ >.%=4*4& =$>&+,14*4&N >++$ >+ =.$1+ =+%H&1+ )+=*$0$%+$ =$>&+,14*4&3 :,)&>$[&&*+ =%&,>&=$*+ =+,1%4 $)H&,&01%$%+$ &,1%$1+>$*F 04,1d ' )4%+%+ ,+>.,1%.*$D&*F B, >&4)$ >$,1&1F[&*.% H$f&H+ )+ .=&.&G& ^& $)k4@$,1+q ' +O+>1+ 0+>4,)$%+ ^& %+$>[&& $)@+%0+ &,$>>+=1$D&*+ $*+ $,$*(+G&>+*.%q ' ,+.=*$G&+ >+ &H=*&>F 4, =*+f ,+%@.0N >+* H$& O%+>@+,1 =*+f4* *.HD.0$>%$1q ' H+1$01$G+ .0.$0+ )&O4G+3 ' 8*1+ 1+],&>& O.*.0&1+ B, )4%+%+$ ,+>.,1%.*$D&*F 04,1d ' D*.>4* )+ =*+f >+*&$> ' ,+4%.*&G$ &,1%$1+>$*F ' '
D*.>$k+ ,+4%@.$0+ (]&)$1+ 4*1%$0.,&> %$)&.1+%$=&+ $,1&)4%+%.$0F
5*&/G''C* >)>"/&H/A)C)('A* :,1+%@+,[&&*+ >.(,&1&@e>.H=.%1$H+,1$*+ ^& 1+%$=&&*+ =0&].0.H$1&>+ Q%+*$f$%+N &H$(+%&+N ]&=,.GF ^& D&.O++)D$>jR $% =41+$ O& 41&*+3 !@K.?/>S* A@ G)?*>S'/C G*>?&@ I''?)& 2.D%$1.f&,N 4, $,1$(.,&01 )+ %+>+=1.% ,&>.1&,&> >.*&,+%(&> +01+ $,$*(+G&> B, ).G+ H&>&N )+^& *+1$* B, ).G+ H$%&3 2.HD&,$[&& $*+ 0$*+ >4 8:TP ^& .=&.&G& $4 O.01 &,@+01&($1+ *$ =$>&+,[& >4 )4%+%& ,+.=*$G&>+ 0+@+%+ ^& 0'$ )+H.,01%$1F >F +O&>&+,[$ >.HD&,$[&&*.% $ O.01 H4*1 H$& H$%+ )+>A1 $ 8:TP 0$4 $,$*(+G&>+*.% .=&.&)+ B, H.,.1+%$=&+‚ZSƒ #+*>&& >.,&>& )+ H$%+ 0+>%+1F 04D01$,[+ ,$14%$*+ ,4H&1+ >.,.=+=1&)+N &$% 4,4* )&,1%+ $>+01+$ +01+ G&>.,.1&)+N >$%+ +01+ +O&>&+,1 B, )4%+%+$ >%.,&>F3 8>[&.,+$GF =%&, D*.>$%+$ >$,$*+*.% )+ >$*>&4 @.*1$k )+=+,)+,1+ )+ 1&= T )&, >.%,4* ).%0$* H+)4*$%3 C, ?YYbN J;8 $ $=%.D$12+%$H&)$ $)H&,&01%$%+$ B, =+%O4G&& &,1%$1+>$*+ B,^&)4%+%&*+ %+O%$>1$%+ ‚Zbƒ3 +01+)+.G&>.,.1&) H.*+>4*F =%.'&,O*$H$1.%&+ =%.'$=.=1.1&>F )+%&@$1F )&, 0O&,(.H&+*&,F ^& =%.)40F =%&, 0&,1+GF )+ ,.@. )+ >F1%+ +,G&H$ 0+%&,'=$*H&1.&*1%$,0O+%$G$3 9+ *A,(F %.*4%&*+ 0$*+ B, =+%H$,+,1F +@.*4[&+ B, &,O*$H$[&+ ^& >$,>+%N 0+ =$%+ >F +01+ &H=*&>$1F ^& B, =%.>+0$%+$ =+%&O+%&>F ^& 0=&,$*F $ )4%+%&& >%.,&>+3 ‚ZZƒ ;+G@.*1$%+$ ^& O.*.0&%+$ )+ D*.>$,[& $& $>+01+& >F& $ >+%$H&)+&'0O&,(.H&+*&,+& $% =41+$ O& )+ @&&1.% B, )+G@.*1$%+$ )+ ,.& 04D01$,[+ $,$*(+G&>+ 41&*+ B, 1+%$=+41&>$ )4%+%&& >%.,&>+ >$,>+%.$0+3 !@K.?/>S* A/&* /"*A?*/QF H'A&)(C''C* .G'>/C* 8>1&@$%+$ (*&$*F +01+ 4, >.,>+=1 ,.4 ^& O.$%1+ =41+%,&> ,+>+0$% =+,1%4 B,[+*+(+%+$ H+>$,&0H+*.% >+*4*$%+ >+ 01$4 *$ D$G$ )4%+%&& >%.,&>+3 ;&, ,+O+%&>&%+N >.,>+=14* )+ n$>1&@$%+M ,4 +01+ =%+$ D&,+ )+O&,&13 :, =%&,>&=&4N %+=%+G&,1F 04=%$+f=%&H$%+$ )+ LJ89 Q(*&$*F D%&**$%} $>&)&> =%.1+&,R ^& $01%.(*&.GF Q]&=+%1%.O&+ ^& ]&=+%=*$G&+ $01%.>&1$%FR3 8>1&@$%+$ $01%.>&1+*.% =$%+ $ O& 04O&>&+,1F =+% 0+ =+,1%4 $ =%.)4>+ 0&H=1.H+ )+ )4%+%+ >%.,&>F3 :,k+>1$%+$ &,1%$1+>$*F )+ 5TJ$ =%.)4>+ $*.)&,&+ H+>$,&>F *$ $,&H$*+ ,$&@+3 +01+ . >%.,&>F3 >&1.j&,F <, =%.&,O*$H$1.%&+ H$k.%F ^&(*&$*+ +01+ +01+ 04=%$+f=%&H$1F B, HF)4@F B, >.,)&[&&:-'"D )+ )4%+%+ $*1 0+H, $* $>1&@F%&& %.*4* &H=.%1$,1 $* #89' j&,$G+*.% Q67•N =S\N ^& mT•R B, 0+,0&D&*&G$%+$ )4%+%.$0F >%.,&>F3 :,]&D&[&$ 0=&,$*F $ $>1&@F%&& 67• =%&, $)H&,&01%$%+$ &,1%$1+>$*F )+ &,]&D&1.% $* #89'j&,$G+& ,4H&1 2J8 %+)4>+ $*.)&,&$ H+>$,&>F3 ;&,1%+ H.*+>4*+*+ O$%H$>.*.(&> $>1&@+ =+ $>1&@$%+$ (*&$*F 0+ ,4HF%F =+,1.f&O&*&,$ ^& =%.=+,1.O&*&,$N =%+>4H ^& 1$*&).H&)$3 P14)&& >4 >.HD&,$[&& H+)&>$H+,1.$0+ O.*.0&,) $>+01+ 04D01$,[+ $4 )+H.,01%$1 +O+>1+ $,$*(+G&>+ ‚Z_ƒ3
?""
X'KC')(&/"'* "3 -+@}N #3l3N O@2*92/%&%A'/ )*(2)9(") %= /2"/(* ,2'"C T 6,(* m #+)N "XX_3 SSZQ"ZRd =3 ""?b'S?3 ?3 P&HH.,)0N #383N O@2*92/%)@(*2,(+)'/ 92"2A(9(") %= /2"/(* ,2'"S /+**(") ,*2/)'/(C P+H&, /,>.*N "XXa3 ?bQZ P4==* "_Rd =3 P"_'"'_3 S3 `*.,)N P3 $,) m3 #+},$)&+%N t;*+A )@(*2,H %= ,2'" '" %"/%&%AHS F((, ') 8'9,&(iuC `4** 2$,>+%N "XXb3 \"Q\Rd =3 _ZS'\3 b3 x.%*) l+$*1] /%($,&G$1&.,3N L2"/(* ,2'" *(&'(=3 "X\_N L+,+@$ 8*D$,}N T€d x.%*) l+$*1] /%($,&G$1&., q xl/ 94D*&>$1&.,0 2+,1+%
?"?
??3 m$>.fN 83N ;3`3 2$%%N $,) 73 9$},+N >(G /&'"'/2&:,*2/)'/( A+'1(&'"(8 =%* )@( 92"2A(9(") %= ,2'" '" ,2)'(")8 G')@ /2"/(*C T 6,(* m #+)N "XXb3 SSYQXRd =3 _Z"'Z3 ?S3 9.%1+,.}N 73•3 $,) 93 -+0$(+N U2"2A(9(") %= /2"/(* ,2'"C -$,>+1N "XXX3 SZSQX"_ZRd =3 "_XZ'aYY3 ?b3 <+)$N l3N tO2'" 2"1 edW::9%*,@'"(:)%&(*2"/( 2"1 9%*,@'"(:*(8'8)2") "(+*%,2)@'/ ,2'"uC T&]., €$j4%&($j4 c$00]&N ?YYS3 "??QSRd =3 "X?'?YY3 ?Z3 #&1%$N P3N d,'%'1:'"1+/(1 @H,(*2&A(8'2S ,2)@%,@H8'%&%AH 2"1 /&'"'/2& '9,&'/2)'%"8C m /=&.&) #$,$(N ?YY\3 bQSRd =3 "?S'SY3 ?_3 g&00+%0N •323N +1 $*3N d,'%'1 *%)2)'%" '" )@( 92"2A(9(") %= /@*%"'/ ,2'"S G@(*( '8 )@( (7'1("/(z 9$&, 9%$>1N ?Y"Y3 "YQ?Rd =3 \Z'XS3 ?a3 -+==+%1N x3 $,) 53 `400N J@( *%&( %= /%*)'/%8)(*%'18 '" )@( )*(2)9(") %= ,2'" '" /2"/(* ,2)'(")8C 24%% 9$&, l+$)$>]+ 7+=N ?Y"?3 "_QbRd =3 SYa'"S3 ?\3 )+ -+.,'2$0$0.*$N /3N >(G 1(7(&%,9(")8 '" )@( )*(2)9(") 2&A%*')@9 =%* ,(*',@(*2& "(+*%,2)@'/ ,2'"C 9$&, #+)N ?Y""3 "? P4==* Sd =3 P"YY'\3 ?X3 60&,N 63 $,) P3 €$*>&,N >(+*%,2)@'/ /2"/(* ,2'"S y@2) G( 2*( 1(2&'"A G')@z M%G )% 92"2A( ')z /,>. 5$%(+10 5]+%N ?Y"b3 ad =3 ZXX'_"\3 SY3 P&,&0>$*>]&N 83N +1 $*3N Y==(/)8 %= /2*$2924(,'"(s%
P$*@+H&,&N ;3N +1 $*3N Y7'1("/( %= ,(*%
?"S
b?3 P$,1&$(.'J&(4+%.$N m3 $,) ;393 •4OO*+%N T(1+/'"A 2"1 (&'9'"2)'"A "(+*%,2)@'/ ,2'"C 9 7 l+$*1] P>& mN ?YYX3 ?\QbRd =3 ?\X'SYY3 bS3 €$,N 93c3N +1 $*3N Z(H%"1 >(+*%,2)@'/ O2'"S R2$2,(")'" `8( '" L2"/(* O2'" 2"1 O(*'%,(*2)'7( O2'"C 2*&, m 9$&,N ?Y"S3 bb3 x&OO+,N 93m3N P3 ;+%%}N $,) 7383 #..%+N W29%)*'A'"( =%* /@*%"'/ "(+*%,2)@'/ ,2'" 2"1 ='$*%9H2&A'2 '" 21+&)8C 2.>]%$,+ ;$1$D$0+ P}01 7+@N ?Y"S3 "?d =3 2;YY_Ybb3 bZ3 x&OO+,N 93m3N +1 $*3N N")'(,'&(,)'/ 1*+A8 =%* "(+*%,2)@'/ ,2'" 2"1 ='$*%9H2&A'2 : 2" %7(*7'(G %= L%/@*2"( *(7'(G8C 2.>]%$,+ ;$1$D$0+ P}01 7+@N ?Y"S3 ""d =3 2;Y"YZ_a3 b_3 x&OO+,N 93m3N +1 $*3N J%,'*292)( =%* "(+*%,2)@'/ ,2'" 2"1 ='$*%9H2&A'2 '" 21+&)8C 2.>]%$,+ ;$1$D$0+ P}01 7+@N ?Y"S3 \d =3 2;YY\S"b3 ba3 5$~O&>N †383N N *(7'(G %= )@( +8( %= F()29'"( '" ,2'" 92"2A(9(")C m /=&.&) #$,$(N ?Y"S3 XQZRd =3 SaX'\\3 b\3 P]$%H$N P3N +1 $*3N N ,@28( PP ,'&%) 8)+1H )% (72&+2)( +8( %= '")*27("%+8 &'1%/2'"( =%* %,'%'1:*(=*2/)%*H ,2'" '" /2"/(* ,2)'(")8C m 9$&, P}H=1.H #$,$(+N ?YYX3 SaQ"Rd =3 \Z'XS3 bX3 `%+)+%0.,N m3;3N 9373 •}HN $,) 83 PG$**$0&N J2*A()'"A JTO /@2""(&8 =%* ,2'" *(&'(=C 64% m 9]$%H$>.*N ?Y"S3 a"_Q"'SRd =3 _"'a_3 ZY3 7+},.*)0N 53;3 $,) l3-3 /0D.%,N J@( +8( %= /2""2$'"%'18 '" /@*%"'/ ,2'"C `#m 2$0+ 7+=N ?Y"S3 ?Y"S3 Z"3 L4&,).,N m3 $,) 93 `+$4*&+4N J@( *%&( %= )@( ("1%A("%+8 /2""2$'"%'1 8H8)(9 '" ,(*',@(*2& 2"2&A(8'2C 24%% #.* 9]$%H$>.*N ?YYX3 ?Q"Rd =3 "Sb'X3 Z?3 L4&,).,N m3 $,) 83L3 l.]H$,,N J@( ("1%/2""2$'"%'1 8H8)(9 2"1 ,2'"C 2TP T+4%.* ;&0.%) ;%4( 5$%(+10N ?YYX3 \Q_Rd =3 bYS'?"3 ZS3 y4N m3#3N +1 $*3N L%$*%)%<'":/%")2'"'"A 2"2&A(8'/ /%9,%+"1 )% )*(2) /@*%"'/ 9%1(*2)( )% 8(7(*( /2"/(* ,2'"S *(8+&)8 =*%9 2 *2"1%9'4(1. 1%+$&(:$&'"1. /*%88:%7(* 8)+1H 2"1 =*%9 2" %,(":&2$(& 8)+1HC /,>.* 7+=N ?YY_3 "_QZRd =3 "Yaa'\b3 Zb3 6**&0N ;3m3N +1 $*3N L%")'"+%+8 P")*2)@(/2& P"=+8'%" %= {'/%"%)'1( =%* J*(2)9(") %= L@*%"'/ U2&'A"2") 2"1 >%"92&'A"2") O2'" d7(* ]c U%")@8S N O*%8,(/)'7(. d,(":&2$(& I)+1HC T+4%.H.)4*$1&.,N ?YY\3 ""Q"Rd =3 bY'X3 ZZ3 •.*+0,&>jN 73N J@( )@(*2,(+)'/ ,%)(")'2& %= 9%1+&2)'"A )@( /(*29'1(s8,@'"A%9H(&'" ,2)@G2HC m 2*&, :,@+01N ?YY?3 ""YQ"Rd =3 S'\3 Z_3 L$.N €3m3 $,) 7373 m&N J2*A()'"A 28)*%/H)( 8'A"2&'"A =%* /@*%"'/ ,2'"C T+4%.1]+%$=+41&>0N ?Y"Y3 aQbRd =3 b\?'XS3
?"b
64,4%060,51; N120277 Z, Z,%27~7204 <4;7457P: g*$)&H&% 9.%.>] <#J oL%&(.%+ 53 9.=$o :$^& C,(%&k&%+$ =$*&$1&@F $%+ >$ .D&+>1&@+ H$k.%+ >.,1%.*4* 0&H=1.H$1.*.(&+& I& H+,E&,+%+$ >$*&1FE&& @&+E&&N =+,1%4 %+$*&G$%+$ $>+01.%$ O&&,) ,+>+0$%F . $D.%)$%+ H4*1&)&0>&=*&,$%F3 C, ?YY?N /#P $ )+O&,&1 B,(%&k&%+$ =$*&$1&@F >$ O&&,) K. $D.%)$%+ >$%+ BHD4,F1FE+I1+ >$*&1$1+$ @&+E&& =$>&+,E&*.% >$%+ 0+ >.,O%4,1F >4 D.*& 1+%H&,$*+ I& $ O$H&*&&*.% $>+01.%$N $@A,) >$ 0>.= =%+@+,&%+$ I& %+)4>+%+$ 04O+%&,E+&N D$GA,)4'0+ =+ &)+,1&O&>$%+$ =%+>.>+N +@$*4$%+$ =+%O+>1F I& 1%$1$H+,14* $)+>@$1 $* )4%+%&& I& $* $*1.% =%.D*+H+ )+ .%)&, O&G&>N =0&].0.>&$* I& 0=&%&14$*M3 ;4%+%+$ +01+ 4, 0&H=1.H >.H=*+fN >4 &H=$>1 $04=%$ >$*&1FE&& @&+E&& I& $04=%$ =$,4*4& =0&]&> $* =$>&+,14*4&3 ;+O&,&E&&*+ )4%+%&& B,>+$%>F 0F $>.=+%+ H$%+$ )&@+%0&1$1+ )+ $0=+>1+ >+ >$%$>1+%&G+$GF $>+01 0&H=1.HN )+ *$ 0&H=*$ +f=*&>$E&+ >$ =4% O+,.H+, O&G&.*.(&>N =A,F *$ &H$(&,+$ >$%$>1+%4*4& H4*1&)&H+,0&.,$* $* $>+01+&$3 ;4%+%+$ %+=%+G&,1F . +f=+%&+,EF &,)&@&)4$*F >+ &,>*4)+ $0=+>1+ O&G&>+ I& =0&].0.>&$*+ O&&,) B,1.1)+$4,$ 04D&+>1&@F3 ;4%+%+$ B, >$,>+% =.$1+ O& . >.,0+>&,EF $ D.*&& B,0FI&N 0$4 =.$1+ %+G4*1$ >$ 4%H$%+ $ 1%$1$H+,1+*.% $>+01+&$N &,>*4GA,) >]&%4%(&$N %$)&.1+%$=&$ I& >]&H&.1+%$=&$3 ;+I& $=$%+ )+ .D&>+& %+*$1&@ 1$%)&@ B, +@.*4E&$ ,$14%$*F $ D.*&&N )4%+%+$ %+=%+G&,1F >+* H$& O%+>@+,1 0&H=1.H B, >$,>+%N =%+G+,1 *$ SY'bY{ )&,1%+ =$>&+,E& *$ H.H+,14* )&$(,.01&>4*4&N *$ bY'aY{ *$ &,&E&+%+$ 1%$1$H+,14*4& I& *$ aY'XY{ B, >$G4* O.%H+*.% $@$,0$1+ $*+ ,+.=*$G&+&3 9%+@$*+,E$ )4%+%&& )+=&,)+ )+ 1&=4* 14H.%$*N @$%&&,) )+ *$ Z?{ *$ =$>&+,E&& >4 >$,>+%+ =4*H.,$%+ *$ Z{ *$ =$>&+,E&& >4 *+4>+H&+3 2$4G+*+ =%&,>&=$*+ $*+ )4%+%&& *$ =$>&+,[&& >4 $O+>[&4,& .,>.*.(&>+ 04,1 %+=%+G+,1$1+ )+ &,@$G&$ 14H.%$*F )&%+>1FN )4%+%+$ $0.>&$1F 1%$1$H+,1+*.% .,>.*.(&>+ 0$4 =+%0&01+,1F =.01' 1%$1$H+,1N )4%+%+$ >$4G$1F )+ )+D&*&1$1+ Q)4%+%+$ >.H=*+fFN >%.,&>FR ^& )4%+%+$ ,+$0.>&$1F >$,>+%4*4& 0$4 1%$1$H+,14*4& .,>.*.(&> Q)+ >$4GF ,+>4,.0>41FR3 ;+'$ *4,(4* 1&H=4*4& $4 O.01 +*$D.%$1+ ,4H+%.$0+ H.)$*&1FE& )+ >*$0&O&>$%+ $ )4%+%&&N >$%+ %+O*+>1F $0=+>14* H4*1&)&H+,0&.,$* $* $>+01+& 0+,G$E&&N )$% =A,F B, =%+G+,1 ,4 +f&01F 4, 0&01+H 4,&@+%0$* )+ )+0>%&+%+3 2*$0&O&>F%&*+ $4 O.01 +*$D.%$1+ B, O4,>E&+ )+ H+>$,&0H+*+ ,+4%.=0&].*.(&>+N *.>$*&G$%+$ 04%0+*.% H$k.%+ )+ )4%+%+N $0=+>1+*+ 1+H=.%$*+ $*+ )4%+%&&N ,$14%$ )4%+%&&N H.)$*&1$1+$ )+ $0.>&+%+ $ )4%+%&& I& %F0=4,04* *$ 1%$1$H+,1 ^& 0&,)%.$H+*+ 0=+>&O&>+ $*+ )4%+%&& B, >$,>+%3 <,$ )&,1%+ >*$0&O&>F%&*+ >+*+ H$& &H=.%1$,1+ +01+ >+$ B, O4,>[&+ )+ $0=+>1+*+ 1+H=.%$*+3 2.,O.%H $>+01+& >*$0&O&>F%& )4%+%+$ +01+ )+ ).4F 1&=4%&d $>41F ^& >%.,&>F3 ;4%+%+$ $>41F +01+ . )4%+%+ )+ 0>4%1F )4%$1F 0$4 . )4%+%+ )&, >$4G+ 4I.% )+ &)+,1&O&>$1 Q:8P9R3 601+ $0.>&$1F >4 . *+G&4,+ 1&04*$%F $>41FN 1%$4H$1&>FN =.$1+ O& 0+>4,)$%F 4,+& D.*& 0$4 =.$1+ $=F%+$ B, 4%H$ 4,+& )&0O4,>E&& H40>4*$%+ 0$4 $ .%($,+*.% &,1+%,+ >$%+ ,4 =%.)4>+ *+G&4,+ Q+f3 0=$0H4* H40>4*$%RN 1.$1+ $>+01+$ $@A,) >$ %+G4*1$1 01&H4*$%+$ ,.>&>+=1.%&*.% =+%&O+%&>& 0.H$1&>&;4%+%+$ 0$4 @&0>+%$*&3 $>41F )4%+$GF )+ .D&>+& $1A1 >A1 )4%+$GF $O+>E&4,+$ >$%+ $ =%.@.>$1'.N )$% +f&01F 0&14$[&& B, >$%+ )4%$1$ +01+ H$& H$%+ QG&*+ 0$4 0F=1FHA,&R3 2.H=.%1$H+,14* D.*,$@4*4& >4 )4%+%+ $>41F +01+ >$%$>1+%&01&>N $>+01$ =%+G+,1A,) $(&1$[&+ 0$4 &H.D&*&1$1+N *$ >$%+ 0+ $)$4(F 0+H,+ )+ 01&H4*$%+ $ 0&01+H4*4& ,+%@.0 @+(+1$1&@ 0&H=$1&>3 7+$>E&$ 0&01+H4*4& ,+%@.0 @+(+1$1&@ 0&H=$1&> +01+ =%.H=1FN O&&,) >$%$>1+%&G$1F =%&, 1%$,0=&%$[&+N =$*.$%+N H&)%&$GFN 1$]&>$%)&+N 1$]&=,++N ^4,1$%+$ @$0>4*$%&G$[&+& )&,0=%+ @&0>+%+ 0=%+ H4^>]&3 ;$>F )4%+%+$
?"Z
$>41F &,)&>F =%.(%+0&$ >$,>+%4*4& Q0$4 =$>&+,14* >%+)+ $01$RN $14,>& )4%+%+$ =.$1+ O& B,0.E&1F )+ )+=%+0&+ I& %+1%$(+%+N 0&H=1.H+ 0=+>&O&>+N B, (+,+%$*N )4%+%&& >%.,&>+3 ;4%+%+$ >%.,&>F +01+ )4%+%+$ >$%+ =+%0&01F H$& H4*1 )+>A1 )4%$1$ .D&I,4&1F )+ @&,)+>$%+ $ E+0414*4& Q:8P9R3 ;4%+%+$ >%.,&>F =.$1+ O& )4%+%+$ >$%+ =+%0&01F )4=F @&,)+>$%+$ 4,+& $O+>E&4,& $*(.(+,+ $>41+N )4%+%+$ =%.)40F )+ . $O+>E&4,+ >%.,&>FN >$%+ =%&, +@.*4E&$ +& =%.)4>+ 01&H4*$%+$ =+%H$,+,1F $ ,.>&>+=1.%&*.%N =%+>4H ^& %+=+1$%+$ 1&H= )+ *4,& 0$4 $,& $ $>+*+&$I& )4%+%&3 ;4%+%+$ >%.,&>F ,4 $%+ ,&>& . O4,>E&+ D&.*.(&>FN )&H=.1%&@FN >4 >A1 )4%+$GF H$& H4*1 )+@&,+ . O.%EF )&01%4>1&@F 1.1 H$& =41+%,&>F >$%+ +%.)+$GF =+%H$,+,1 D&.*.(&>4*N $O+>14*N H+,1$*4*N H+)&4* 0.>&$* I& +>.,.H&> $* D.*,$@4*4&3 J$>1.%&& =0&].*.(&>& 0$4 )+ H+)&4 =.1 O& )+ $0+H+,+$ %+0=.,0$D&*& )+ =%.)4>+%+$ )4%+%&& >%.,&>+3 ;+.$%+>+ 04,1 (%+4 )+ )&$(,.01&>$1N )&O&>&* )+ 1%$1$1N =+,1%4 $D.%)$%+$ +f]$401&@F $ H+>$,&0H+*.% *.% )+ =%.)4>+%+ +01+ ,+>+0$%F )+ >+*+ H$& H4*1+ .%& . +>]&=F H4*1&)&0>&=*&,$%F3 2.H=.%1$H+,14* 0=+>&O&> D.*,$@&*.% >4 )4%+%+ >%.,&>F >.H=.%1F H$,&O+01F%& =.*&H.%O+d 4,+.%& +01+ H$0>$1F &,1+,0&1$1+$ )4%+%&&N =%+.>4=$%+$ +f$(+%$1F )+ D.$*FN )+0>%&+%+$ 0&H=1.H$1.*.(&+& )4%+%.$0+N )&0>4E&& =+ 1+H+ H+)&>$*+N O%+>@+,1$%+$ %+=+1$1F $ 0+%@&>&&*.% H+)&>$*+N H+%04* >4 )&O&>4*1$1+N (+$HF14*N =%+O+%&,E$ =+,1%4 I+)+%+ 0$4 >*&,.01$1&0HN 0.H, =+%14%D$1N H.)&O&>F%& )+ =+%0.,$*&1$1+3 9$>&+,14* =%+G&,1F )+=%+0&+ >4 *+1$%(&+N $=$1&+N $,.%+f&+ I& &,0.H,&+3 :, H.) ,.%H$*N )4%+%&& && *&=0+I1+ 0+H,&O&>$E&$ =.G&1&@F3 ;$1.%&1F $*1+%F%&& =%.(%+0&@+ $ 01&*4*4& )+ @&$EF I& $ $D&*&1$E&*.% O4,>E&.,$*+ =.1 $=F%+$ H.)&O&>F%& )+ =+%0.,$*&1$1+3 9$>&+,E&& =.1 =%+G+,1$ n>.H=.%1$H+,14* )4%+%&&M )$1.%&1F )+=+,)+,E+& )+ 0&14$E&$ *.% )4%+%.$0F I& ,4 H$& %F0=4,) *$ HF04%&*+ )+ B,(%&k&%+N )+ 04=.%1 I& $,$*(+G&+3 601+ )&O&>&* )+ 01$D&*&1 (%$,&E$ B,1%+ )4%+%+$ $>41F I& >+$ >%.,&>F3 C, >$G4* )4%+%&& ,.,' >$,>+%.$0+ 0+ >.,0&)+%F >F +f&01F . )4%+%+ >%.,&>F )$>F )4%+%+$ =+%0&01F H$& H4*1 )+>A1 =+%&.$)$ ,+>+0$%F @&,)+>F%&&3 9+,1%4 =$>&+,E&& >4 >$,>+%N )4%+%+$ >4 . )4%$1F H$& H$%+ )+ ).4F 0F=1FHA,& 1%+D4&+ >.,0&)+%$1F >%.,&>F I& 1%$1$1F >$ $1$%+3 C, >$G4* $>+01.% =$>&+,E&N =41+H )&01&,(+ H$& H4*1+ 0&14$E&& =$%1&>4*$%+ )+ )4%+%+3 940+4* )4%+%.0 Q)4%+%+$ D%+$j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e H&>E&4,+N )+O+>$E&+N 140+ 0$4 *+($1F )+ +O+>14$%+$ $,4H&1.% H&I>F%&R 0$4 )4%+%+ K=%+').GFM >$4G$1F )+ >$,1&1$1+$ =%+$ H&>F )+ $,1$*(&> 41&*&G$1F B, H.) >4%+,1 Q*$ .%+ O&f+R 0$4 )+ &,1+%@$*4* =%+$ *4,( B,1%+ $)H&,&01%F%&*+ H+)&>$E&+&3 ;4%+%+$ >%.,&>F ,+.=*$G&>F $%+ 4, H+>$,&0H =$1.(+,+1&> .$%+>4H )&O+%&1 )+ >+* %+0=.,0$D&* $=$%&E&$ )4%+%&& >%.,&>+ )&, $O+>E&4,&3 8>+01 1&= )+ )4%+%+ +01+=%.)40F >$4G$1 )+ )&01%4>E&$=+,1%4 1&04*$%F >.,1&,4F I& =%.(%+0&@F ^& $*1+ =.$1+ O& >.,0&)+%$1F . )4%+%+ $>41F >.,1&,44N )+ *4,(F )4%$1F3 9$%1&>4*$%&1$1+$ )4%+%&& >%.,&>+ ,+.=*$G&>+ +01+ +f=*&>$1F =%&, &,@$G&$ 14H.%$*F 1%+=1$1FN B, n=$1F )+ 4*+&nN $ 01%4>14%&*.% )+ @+>&,F1$1+ .)$1F >4 =%.(%+0&$ D.*&&N %+0=+>1&@ =%.)4>+%+$ H+1$01$G+*.% *$ )&01$,EFN >4 $,1%+,$%+$ B, =%.)4>+%+$ )4%+%&& $ H$& H4*1.% H+>$,&0H+ +1&.=$1.(+,+1&>+N $)+0+.%& $ S 0$4 bN )+1+%H&,A,) )4%+%& >.,>.H&1+,1+ >4 *.>$*&GF%&N &,1+,0&1FE& I& >$%$>1+%+ )&O+%&1+3
?"_
C, >$G4* =$>&+,E&*.% $O*$E& B, B,(%&k&%+$ =$*&$1&@F >$%$>1+%&01&> +01+ >.,>+=14* )+ )4%+%+ 1.1$*F3 8>+$01$ ,+>+0&1F . $D.%)$%+ >.H=*+fF I& H4*1&O$>1.%&$*F I& $%+ >$ 0>.= =%&,>&=$* BHD4,F1FE&%+$ >$*&1FE&& @&+E&&3 #$,$(+H+,14* )4%+%&& 1.1$*+ $% 1%+D4& 0F $&DF B, @+)+%+ &)+,1&O&>$%+$ >.%+>1F $ 1414%.% 1&=4%&*.% )+ )4%+%+ I& $ >.H=.,+,1+*.% $>+01+&$ QO&G&>FN =0&].0.>&$*FN 0=&%&14$*FRN .=E&4,&*+ 1+%$=+41&>+ 0=+>&O&>+ QO$%H$>.*.(&>+ I& ,., e O$%H$>.*.(&>+RN +f=+%&+,E$ >*&,&>F $ H+)&>4*4& B, =%+0>%&+%+$ .=&.&)+*.%N =%+>4H I& $>>+04* *$ 0+%@&>&&*+ )+ B,(%&k&%+ =$*&$1&@F $ 1414%.% =$>&+,E&*.%N &,)&O+%+,1 )+ =$1.*.(&$ $>+01.%$3 0I/C@/&*/ +@&*&'' 73 5~}>%.00 >.,0&)+%F >F +@$*4$%+$ %+=%+G&,1F $D&*&1$1+$ )+ $ )&$(,.01&>$ I& )+ $ O$>+ 4, =*$, )+ 1%$1$H+,1 &,&E&$*3 -$ 0O¢%I&14* +@$*4F%&&N H+)&>4* 1%+D4&+ 0F O&+ $=1 0F $=%+>&+G+ 4%HF1.$%+*+ +*+H+,1+ >$%$>1+%&01&>+ )4%+%&&d £ +01+ >$4G$1F )+ D.$*$ )+ D$GF Q>$,>+%RN )+ 1%$1$H+,1 0$4 $*1F =$1.*.(&+ $0.>&$1F £ +01+ ,.>&>+=1&@FN ,+4%.=$1&>F 0$4 H&f1F £ +01+ O4,>E&.,$*F Q>%$H=FN >.*&>FR £ >$%$>1+%&01&>& £ >$%+ +01+ &H=$>14* )4%+%&& $04=%$ @&+E&& =$>&+,14*4& £ +01+ 0$4 ,4 B,0.E&1F )+ +*+H+,1+ &H=.%1$,1+ )+ 04O+%&,EF =0&].*.(&>FN 0.>&$*FN 0=&%&14$*F £ $%+ &H=$>1 ,+($1&@ $04=%$ O$H&*&+&r $=$%E&,F1.%&*.% 6@$*4$%+$ )4%+%&& +01+ &,)&0=+,0$D&*F =+,1%4 .DE&,+%+$ 4,+& $,$*(+G&& 0$1&0OF>F1.$%+ I& >4=%&,)+ I$0+ =%&,>&=&& )+ D$GFd £ )4%+%+$ +01+ 4, 0&H=1.H 04D&+>1&@N $%+ &,1+,0&1$1+$ I& >$%$>1+%4* )+0>%&0 )+ D.*,$@ £ )4%+%+$ 1%+D4&+ &,@+01&($1F >4 $1+,E&+d $,$H,+GFN +f$H&,$%+N &,@+01&($E&& >*&,&>+ I& =$%$>*&,&>+ £ O&+>$%+ *.>$*&G$%+ I& 1&= )+ )4%+%+ %+*$1$1 )+ =$>&+,1 1%+D4&+ &,@+01&($1+ £ 1%+D4&+ >4,.0>41F +f1&,)+%+$ %+$*F $ D.*&& >$,>+%.$0+ £ @.% O& 4%HF%&E& 1.E& O$>1.%&& >$%+ &,O*4+,E+$GF =+%>+=E&$ )4%+%&&d =0&]&>&N 0.>&$*&N >4*14%$*&N 0=&%&14$*& £ =+%&.)&>N )4%+%+$ 1%+D4&+ %++@$*4$1F 2.,O.%H K9%.1.>.$*+*.% >*&,&>+ B, B,(%&k&%+$ =$*&$1&@FMN =+,1%4 . +@$*4$%+ >.%+>1F $ )4%+%&& 0+ @.% $@+$ B, @+)+%+ 4%HF1.$%+*+ $0=+>1+d C,1%+DF%& )&%+>1+ *+($1+ )+ =%+G+,E$ )4%+%&& Q1%+D4&+ B,>4%$k$1F )&0>4E&$ )+0=%+ )4%+%+N ,4 B,1.1)+$4,$ D.*,$@4* >4 )4%+%+ >%.,&>F BI& $%$1F )4%+%+$R /D0+%@$%+$ =.1+,E&$*+*.% H$,&O+01F%& $*+ )4%+%&& QH.)&O&>F%& $*+ 0&01+H4*4& ,+%@.0 @+(+1$1&@N +f=%+0&$ O$>&$*FN H&^>F%&*+ >.%=4*4&N @+%D$*&G$%+$N &,1+%$>[&4,& >4 $*1+ =+%0.$,+N 0>]&HDF%& B, =$11+%,'4* $>1&@&1FE&&N H.)&O&>F%& $*+ 01$1404*4& H+,1$*R ;+0>%&+%+$ )4%+%&& >$%+ 0F &,>*4)Fd ' *.>$*&G$%+$N &%$)&+%+$ )4%+%&&r)4%+%&*.%N )4%+%+$ %+O+%&1F ' &,1+,0&1$1+$ $1A1 B, 4*1&H+*+ ?b )+ .%+ ^& )4%+%+$ >4%+,1FN >A1 ^& B, 01$%+ )+ %+=$40 ^& H&^>$%+ '&,1+%O+%+,[$ >4 $>1&@&1F[&*+ G&*,&>+d $>1&@&1$1+$ (+,+%$*FN 01$%+$ )+ 0=&%&1N %+*$[&&*+ >4 >+&*$*[&N 0.H,N $=+1&1 '@$%&$[&$ B, 1&H=d B,>+=414*N )4%$1$N >4%04*N =+%0&01+,[$N &,1+%H&1+,[$ ')+0>%&+%+$ 0$4 K>$*&1$1+$M )4%+%&&d •
•
•
?"a
)4%+%.$0FN k4,(]&N =4*0$1&*FrG@A>,&,)N =%+0&4,+ )+0+.%& $0.>&$1F >4 )4%+%+$ 0.H$1&>F *$ ,&@+*4* =&+*&&N H4^>]&*.%N .$0+*.% ! >]&,4&1$%+N >%$H=FN >.*&>FN $0>4[&1FN )+0+.%& $0.>&$1F >4 )4%+%+$ @&0>+%$*F B, .%($,+ 0$4 @&0>+%+ ! $0>4[&1FN >4 O4%,&>F14%&N *$,>&,$,1FN >4%+,1 +*+>1%&>N )+0+.%& $0.>&$1F >4 )4%+%+$ ,+4%.=$1F >$4G$1F )+ *+G&4,+$ Q=%&, &,O&*1%$E&+N >.H=%+0&4,+ 0$4 1.f&>FR ,+%@&*.% 'O$>1.%& >$%+ $(%$@+$GF 0$4 $1+,4+$GF )4%+%+$ 8*1+ 0&H=1.H+ >4%+,1+3 9*$,4* $>14$* )+ H$,$(+H+,1 $* )4%+%&&N $1A1 O$%H$>.*.(&>N >A1 ^& ,.,'O$%H$>.*.(&>3 ;$>$ +01+ 41&*&G$1F H+)&>$[&$ 0+ @$ )+1+%H&,$d >+ H+)&>$H+,1rH+)&>$H+,1+ $4 O.01 >4H=F%$1+ >4 %+[+1+ ^&r0$4 OF%F %+[+1F )+ *$ O$%H$>&+N >+ ).G+ ^& >A1 )+ )+0 $4 O.01 *4$1+N =%+>4H ^& >&,+ =%+0>%&+ H+)&>$H+,1+*+ B, =%+G+,13 7F0=4,04* *$ 1+%$=&$ >4%+,1Fd '4^4%$%+$ )4%+%&& '$)+%+,[$ =$>&+,14*4& *$ 1%$1$H+,1 '+O+>1+*+ 0+>4,)$%+ $*+ H+)&>$[&+&N >4H $% O& >.,01&=$[&$N 0+)$%+$N B,>+1&,&%+$ =%.>+0+*.% >.(,&1&@+N (%+$[F +1>3 5+%$=&& $,1+%&.$%+ BH=.1%&@$ )4%+%&& e H.1&@4* 41&*&GF%&&N )4%$1$ 41&*&GF%&&N %F0=4,04*N H.1&@4* B,1%+%4=+%&& 80=+>1+ 0=+>&$*+ *+($1+ )+ )4%+%+d 'B,0+H,F1$1+$ ^& >.,0+>&,[+*+ )4%+%&& =+,1%4 =$>&+,1 ^& O$H&*&+ '>4,.^1&,[+*+ ^& >%+)&,[+*+ =$>&+,14*4& ^& $*+ O$H&*&+& =%&@&,) )4%+%+$ ^& H+)&>$[&$ =+,1%4 !
• •
•
•
•
)4%+%+'$1&14)&,& >4*14%$*+ =%&@&,) )4%+%+$ ^& +f1+%&.%&G$%+$ $>+01+&$ '>.,0&)+%$[&& 0=&%&14$*+N %+*&(&.$0+ ^& 04O+%&,[$ +f&01+,[&$*F '.D&+>1&@+*+ ^& $^1+=1F%&*+ =$>&+,14*4& =%&@&,) H$,$(+H+,14* )4%+%&& #F04%$%+$ )4%+%&& e 0+ %+$*&G+$GF >4 $k41.%4* 0>$*+*.% 4,&' I& H4*1&)&H+,0&.,$*+d "3 <,&)&H+,0&.,$*+ ' HF0.$%F &,1+,0&1$1+$ ^& n>$,1&1$1+$M )+ )4%+%+ ' P>$*$ $,$*.( @&G4$*F QP8gRd =$>&+,14* =*$0+$GF 4, >4%0.% =+ . *&,&+ >$%+ $%+ *$ >$=F14* 01A,( H$%>$1F n$D0+,E$M )4%+%&&N &$% *$ >$=F14* )%+=1 n>+$ H$& >4H=*&1F )4%+%+ &H$(&,$D&*FMN B, O4,>E&+ )+ >A1 )+ &,1+,0F +01+ %+0&HE&1F )4%+%+$ 0$q @+%0.'4* 0>$*+& +01+ H$%>$1 )+ *$ Y *$ "YN =41A,)4'0+ >4$,1&O&>$ &,1+,0&1$1+$ )4%+%&& %$=.%1$1F )+ =$>&+,13 :3 4I.$%F e P8g ™ b ::3 H.)+%$1F e P8g ¤ b ™ a :::3 0+@+%F e P8g ¤ a - P>$*$ ,4H+%&>Fd =$>&+,14* >4$,1&O&>F &,1+,0&1$1+$ )4%+%&& =+ >$%+ . 0&H1+ =+ . 0>$%F )+ *$ Y *$ "YN B, >$%+ Y %+=%+G&,1F $D0+,E$ )4%+%&&N &$% "Y %+=%+G&,1F >+$ H$& >4H=*&1F )4%+%+ =+ >$%+ I&'. =.$1+ &H$(&,$ =$>&+,14*3 e J&(3" •
" OF%F )4%+%+ 333 "Y )4%+%+$ >+$ H$& H$%+ =+ >$%+ =$>&+,14* I&'. =.$1+ &,>]&=4& K'AC]C I/2&3 "+9(*'/3
?"\
P>$*$ >$1+(.%&$*Fd &H=*&>F +,4H+%$%+$ 4,.% >4@&,1+ >$%+ )+0>%&4 )&O+%&1+*+ ,&@+*+ $*+ &,1+,0&1FE&& )4%+%&& e )4%+%+d n$D0+,1FMN n4I.$%FMN nH.)+%$1FMN n0+@+%FM3 ?3 #4*1&)&H+,0&.,$*+ ' +@$*4+$GF I& n>$*&1$1+$M )4%+%&&d ' `%&+O 9$&, :,@+,1.%} Q0>4%1 &,@+,1$% $* )4%+%&&Rd =$>&+,14* &,)&>F =+ 4, )+0+, *.>4* Q*.>4%&*+R )4%+%.$0+ ^& )+1$*&$GFN 41&*&GA,) 0>$*$ ,4H+%&>F )+ *$ Y *$ "YN &,1+,0&1$1+$ )4%+%&& *4& &, 4*1&H&*+ ?b )+ .%+d >A1 $ O.01 &,1+,0&1$1+$ H$f&HF ^& >+$ H&,&HFN H+)&$ @$*.%&*.% B, ?b .%+ I& B, H.H+,14* )&0>4E&+&q )+ $0+H+,+$N =$>&+,14* $=%+>&$GF I& (%$)4* )+ %F0=4,0 *$ 1%$1$H+,14* $,1&$*(&> $)H&,&01%$1 ^& %F04,+14* )4%+%&& $04=%$ $>1&@&1FE&*.% >4%+,1+d )&0=.G&E&+N -
H+%0N P>$*$ $>1&@&1$1+$ %+*$E&&*+$k41F >4 $*E&&N =*F>+%+$ )+ $$>+*.% 1%F&3 e =$>&+,1& J&(3? 8DD+}>.1&)&$,FN =+,1%4 )4%+%+ *$ 0.H,N +@$*4$%+$ )4%+%&& >$%+ ,4 04,1 >$=$D&*& 0F'I& +f=%&H+ ,+@.&*+N 0+ 41&*&G+$GF B, +@$*4$%+$ B, )&,$H&>FN )$% ,4 )&O+%+,E&$GF B,1%+ 04O+%&,EF I& )4%+%+N $01O+* >F 0+ &H=4,+ H.,&1.%&G$%+$ +O&>$>&EFE&& &,1+%@+,E&&*.% )+ >.,1%.* $* )4%+%&&3 5&/?/H*>?@C +@&*&'' P>.=4* 4,4& 1%$1$H+,1 &)+$* $* )4%+%&& B, >$,>+% +01+ 4, =$>&+,1 OF%F )4%+%+N $*+%1N >4 >$=$>&1FE&*+ 0+,G.%&$*+ ,+$*1+%$1+ )+ H+)&>$H+,1+*+ O.*.0&1+3 9%&,>&=&&*+ >$%+ 01$4 *$ D$G$ 1%$1$H+,14*4& )4%+%&& >%.,&>+ B, >$,>+%d "3 h&,1$ 1%$1$H+,14*4& +01+ $H+*&.%$%+$ %$=&)F $ )4%+%&& I& =%+@+,&%+$ %+>4%+,E+& 0$*+3 ?3 5%$1$H+,14* 1%+D4&+ $)$=1$1 01$)&4*4& )+ D.$*F $ =$>&+,14*4&3 S3 5%$1$H+,14* 0+ D$G+$GF =+ . +@$*4$%+ H&,4E&.$0F $ O&+>F%+& )4%+%& B, =$%1+3 b3 9$>&+,14* I& %4)+*+ $>+014&$ 1%+D4&+ &,O.%H$1+ I& >..=1$1+ B, *4$%+$ )+>&G&+& 1+%$=+41&>+3 Z3 5%$1$H+,14* $,$*(+G&> 1%+D4&+ $)H&,&01%$1 B, H.) >.,01$,1N %++@$*4F%&*+ %+=+1$1+ =+%H&1 %+$k401$%+$ 0$ B, O4,>E&+ )+ +@.*4E&$ =$>&+,14*4&3 _3 5%$1$H+,14* $,$*(+G&> 0+ $)H&,&01%+$GF B, H.) 0&01+H$1&>N >4 04=*&H+,1F%& *$ ,+@.&+ =+,1%4 =40++*+ )4%+%.$0+ QD%+$j1]%.4(] =$&,RN )+ =%+O+%$1 =+% .0N ).G$ 0+ 01$D&*+I1+ &,)&@&)4$* =%&, 1&1%$%+3 a3 9%+=$%$14* 1%+D4&+ $*+0 >.,O.%H 0>F%&& )+ $,$*(+G&+ /#PN &,)&@&)4$* =+,1%4 O&+>$%+ =$>&+,1 B, =$%1+3 \3 5+%$=&$ $,$*(+G&>F +01+ =$%1+ &,1+(%$,1F $ =*$,4*4& H4*1&)&0>&=*&,$% )+ B,(%&k&%+ ].*&01&>F I& =.$1+ &H=*&>$ H$& H4*1+ H.)$*&1FE& )+ 1%$1$H+,13 9)>A*G?* G&'I'>+ />/C(*Q'/ W> W>(&']'&*/ G/C'/?'IF^ T4 +f&01F ).GF H$f&HF )+ .=&.&)N >& ).GF .=1&HF )+ .=&.&) Q&,)&@&)4$*&G$1F O&+>F%4& =$>&+,1R e n1%$1$H+,1 =+%0.,$*&G$1M3 P+ =%+O+%F $)H&,&01%$%+$ .%$*F 0$4 %+>1$*F3 2A,) ,4 +01+ =.0&D&* 0+ $)H&,&01%+$GF =$%+,1+%$*N >$*+ >+$ H$& 41&*&G$1F O&&,) >+$ 04D>41$,FN &,1+%H&1+,1 =+ O*414%$I 0$4 >.,1&,44 >4 0+%&,($ $41.H$1F3 PF O&+ 41&*&G$1+ >.%+>1 >.$,$*(+G&>+*+ 0$4 =%.>+)4%&*+ )+ D*.>$k ,+%@.0 *.>$* 0$4 %+(&.,$*3 8)&>E&$ I& 1.*+%$,E$ ,4 04,1 =%.D*+H+ *$ =$>&+,E&& >4 01$)&& $@$,0$1+ )+ >$,>+%3 P$ 0+ $*+$(F H+)&>$H+,14* >.,O.%H 0>F%&& )+ $,$*(+G&+ /#P •
•
•
• •
?"X
J&(3 ? e P>4%1 &,@+,1$% $* )4%+%&&
??Y
!A/&/ +* />/C(*Q'* 36! P>$%$ )+ $,$*(+G&+ +*$D.%$1F )+ /#P >4=%&,)+ H+)&>$[&$ $,$*(+G&>F >*$0&O&>$1F B, 1%+=1+N $)H&,&01%$1F B, O4,>[&+ )+ &,1+,0&1$1+$ )4%+%&& =$>&+,14*4&3 5%+=$1$ : >4=%&,)+ $,$*(+G&>+*+ >+*+ H$& 0*$D+ Q,.,'.=&.&)+N 4G4$*+RN &$% 1%+$=1$ $ :::'$ =+ >+*+ H$& =41+%,&>+ Q.=&.&)+ H$k.%+R3 5+%$=&$ )4%+%&& B,>+=+ O&+ >4 =%&H$ 1%+$=1FN 4%>A,) =%.(%+0&@ =A,F *$ 1%+$=1$ >4 >$%+ 0+ .D[&,+ . $,$*(+G&+ 0$1&0OF>F1.$%+N O&+ )&%+>1 >4 . 1%+$=1F 04=+%&.$%F Q:: 0$4 :::R3 e J&(3S
K'ACbC I/2&2 1( 2"2&A(4'( dUI 5%+$=1$ : >4=%&,)+d 9$%$>+1$H.*d b'_ (%$H+rG& ;&>*.O+,$>d g.*1$%+,N 8%1]%.1+> "ZY'?YYH(rG& • •
:D4=%.O+,d T4%.O+,N 9$)4)+, ?Nb'SN?(rG& T$=%.f+,d"(rG& :,).H+1$>&,d"ZYH(rG& 9&%.f&>$Hd ?Y'bYH(rG& 5%+$=1$ $ ::'$d 2.)+&,$d ?bY'S_YH(rG& ;+f1%.=%.=.f&O+,d 2.'=%.f$H.* 5%$H$).*d 5%$H$*N <%(+,).*N bYY'_YYH(rG& ;&]&)%.>.)+&,$d ;l2 ?bY'S_YH(rG& 9+,1$G.>&,$d J.%1%$* 5%+$=1$ $ :::'$d #.%O&,$ I& )+%&@$1+ H.%O&,&>+d #.%O&,$d g+,)$*N #P5N P+@%+).* o • • • •
• • • • •
•
l&)%.H.%O.,d 9$**$).,+ ;&$H.%=]&,$ o /f}>.).,$d /f}>.,1&, J$,1$,}* I& 0&H&*$%+d J+,1$,}*d ;4%.(+0&>N ;.*O.%&, o o 8*O+,1$,}* o o
•
??"
o P4O+,1$,}* #+1$).,$d P&,1$*(., 8(.,&I1&'$,1$(.,&I1& o `4=%+,.%O&,$d 5+H(+0&> T+%+>.H$,)$1+d o 9+1&)&,$ d #&$*(&, 2.$,$*(+G&>+d $,1&)+=%+0&@+N $,1&>.,@4*0&@$,1+ e 41&*&G$1+ B, 0=+>&$* =+,1%4 )4%+%+$ ,+4%.=$1F >$%+ +01+ )+ .D&>+& =$%E&$* .=&.&) %+0=.,0&@Fq +f3d $,1&)+=%+0&@+ 1%&>&>*&>+d 8H&1%&=1&*&,$N T.%1%&=1&*&,N ;+0&=%$H&,$ e 0+ o B,>+=+ >4 ).G+ H&>& "Y'?Z H(N =¢,F *$ ZY'"ZY H( o ;4*.f+1&, e 0+ B,>+=+ >4 SY'_Y H(rG&N $=.& _Y'"?Y H(rG& o g+*$O$f&, e ZY'aZ H(rG& &,&E&$*N $=.& aZ '??Z H(rG& #&%1$G$=&,$ e "Z 'SY H(rG& o o 8,1&>.,@4*0&@$,1+d L$D$=+,1&, "YY'SYY H(rG& *$ >4*>$%+N 0+ =.$1+ >%+I1+ *$ XYY'S_YY H(rG&q 9%+($D$*&, "ZY e SYY H(rG&3 $,1&0=$01&>+ e B, )4%+%+$ >.*&>$1&@F H&.%+*$f$,1+ e B, 0=$0H+ H40>4*$%+ 0$4 >%$H=+ $,+01+G&>+ *.>$*+N $,$*(+G&>+ 1.=&>+ $,1&D&.1&>+ e B, >$G4* )4%+%&& (+,+%$1+ )+ =%+G+,E$ 4,+& &,O+>E&& • •
•
•
• • • • •
D&O.0O.,$E& e B, )4%+%+$ )$1.%$1F H+1$01$G+*.% .0.$0+ >.%1&>.01+%.&G& e B, )4%+%& (+,+%$1+ )+ +)+H 0$4 >.H=%+0&+ ,+%@.$0F !* G)? A)HK'>/ 7€77V 7€777V +/& >'A')+/?F 77€777 ‚ 2.$,$*(+G&>+*+ 0+ =.1 >.HD&,$ >4 .%&>$%+ )&, >+*+ S 1%+=1+3 •
5&/?/H*>?@C />?/C('A @?'C'Qp>+ />/C(*Q'A* >*)G')'+*^ 4>?''>"C/H/?)/&*C* >*.?*&)'+'*>* '#+>$,&0H )+ $>E&4,+d &,]&D$%+$ >&>*..f&(+,$G+& e 0&,1+G$ 9L 6? I& 1%.HD.f$, 'P=%+ )+.0+D&%+ )+ =$%$>+1$H.* 0+ >.,>+,1%+$GF B, 1+0414* >4 &,O*$H$E&+N %&,&>]&N 0&01+H4* >$%)&.'@$0>4*$%N H4>.$0$ ($01%&>F '2*$0&O&>$%+d 0+*+>1&@+ 2/y? Q>+*+>.f&DN +1.%&>.f&DR ^& ,+0+*+>1&@+ Q)&>*.O+,$>N &D4=%.O+,N H+*.f&>$HR 'P4,1 )+ =%+O+%$1d >+*+ >4 1&H= )+ B,k4HF1F[&%+ 0>4%1N $ 0+ $)H&,&01%$ ).G$ H&,&HF +O&>&+,1F ^& 4, ,4HF% H&,&H $)H&,&01%$%&rG& '6O+>1+*+ 0+>4,)$%+ 04,1 )+=+,)+,1+ )+ ).GF ^& >.,01$4 B,d +=&($01%$*(&&N ]+H.%$(&+ )&(+01&@FN %+1+,E&+ ]&)%.'+*+>1%.*&1&>FN ,+>%.GF )+ 14D& =$=&*$%&N 0>F)+%+$ $(%+(F%&& =*$>]+1$%+N >%+^1+%+$ %&0>4*4& )+ $>>&)+,1+ @$0>4*$%+ Q>+*+ 0+*+>1&@+R ':,1+%$>E&4,& H+)&>$H+,1.$0+ ' %&0> >%+0>41 )+ 0A,(+%$%+ B, $)H&,&01%$%+$ >.,>.H&1+,1F >4 $,1$(.,&I1& $& @&1$H&,+& •q PP7:N (*4>.>.%1&>.&G&3
???
J2$(& PC N"2&A(4'/( 1( )*(2,)3 P
7>'Y'*&*/ ?&/?/H*>?@C@' A@ )G')'+* +* ?&*/G?/ / 77i/ ! 9%+=$%$1+ >4 +*&D+%$%+ &H+)&$1Fd '5%$H$).* ZY H( *$ _ .%+ '2.)+&,$ SY H( *$ _ .%+ !
9%+=$%$1+ >4 '5%$H$).* "YY+*&D+%$%+ H( *$ "?=%+*4,(&1F .%+ ';l2 Q)&]&)%.>.)+&,FR _Y H( *$ "? .%+ ! ;4%$1$ +O+>14*4& 4,4& =%+=$%$1 >4 n +*&D+%$%+ &H+)&$1FM 'be_ .%+ =. r =% 'H$& 0>4%1 B, >$G4* $)H&,&01%F%&& +f1%$)&(+01&@+ '01$%+ 01$D&*F Q>.,>+,1%$E&+ =*$0H$1&>FR )4=F beZ =+%&.$)+ )+ B,k4HF1FE&%+ '01$%+ 01$D&*F )4=$ ?b )+ .%+ ! ;.G$k4* .%$* )+ %41&,F =+,1%4 =%+=$%$1+*+ >4 +*&D+%$%+ &H+)&$1F Q2.)+&,$N 5%$H$).*4*Rd ').G$d *$ b'_ .%+ '0+ $k401+$GF ).G$ G&*,&> '=+,1%4 )4%+%+ 4I.$%F r H.)+%$1F e 0+ >%+^1+ ).G$ >4 ?Z{eZY{ '=+,1%4 )4%+%+ 0+@+%F r ,+>.,1%.*$1F e 0+ >%+^1+ >4 ZY{e"YY{ '0+ $k401+$GF H$& %$=&) =+,1%4 )4%+%+ 0+@+%F I& ,+>.,1%.*$1F ! ;.G$k4* .%$* )+ %41&,F =+,1%4 =%+=$%$1+*+ >4 +*&D+%$%+ +f1&,0F 'BHD4,F1FE+0> >.H=*&$,E$N $)+%+,E$ *$ 1%$1$H+,1 ').G+d *$ \ 0$4 "? .%+ '1$D*+1+*+ ,4 1%+D4&+ 0OF%AH$1+ 0$4 H+01+>$1+ '0+ $k401+$GF ).G$k4* *$ ?'b G&*+ Q.)$1F $1&,0 01$)&4* 01$D&*R
??S
2.)+&,$ +01+ $)+0+$ >.HD&,$1F >4 9$%$>+1$H.* Q8>+1$H&,.O+,R >$ $,$*(+G&> )+ 1%+$=1$ $ ::'$3 2.)+&,$ $%+ $O&,&1$1+ 0*$DF =+,1%4 %+>+=1.%&& u3 8>E&4,+$ Q41&*FR $,1&140&@F $ >.)+&,+& 0+ =$%+ >F 0+ )$1.%+$GF *+(F%&& )+ 4, $*1 %+>+=1.%3 ;&]&)%.>.)+&,$ +01+ 4, =%+=$%$1 >4 +*&D+%$%+ %+1$%) *$ "? .%+N +f&01+,1 B, ).G$k+ )+ _YN XYN "?Y H(3 ;.G$ H$f&HF +01+ )+ S_Y H( =+ G& ^& +01+ 41&*&G$1F =+ 1%+$=1$ ).4$ $ 0>F%&& )+ $,$*(+G&+ /#P3 5%$H$).*4* +01+ 4, $,$*.( 0&,1+1&>N O&&,) $(.,&01 0*$D =+ %+>+=1.%&& u3 ;.G$ H$f&HF G&*,&>F +01+ bYY'_YY H( Q)&@&G$1FR3 8%+ 1&H= )+ B,k4HF1FE&%+ H$& *4,( )+>A1 H.%O&,$ Q_ .%+R3 gA%O4* )+ >.,>+,1%$E&+ QI& )+ +O+>1R )4=F $)H&,&01%$%+$ .%$*F ,4 $=$%+ B,$&,1+ )+ ?'S .%+ QH$& H4*1 )+>A1 =+,1%4 H.%O&,FR 5&*A*&*/ +* G* ?&*/G?/ / 77i/ G* ?&*/G?/ / 777i/ '9+,1%4 =$>&+,E&& >$%+ 0+ $O*F B, 1%$1$H+,1 $,1$*(&> >4 .=&.&)+ K0*$D+M Q)+ 1%$=1F ::R +01+ =.0&D&* >$ )4%+%+$ 0$ )+@&,F ,+>.,1%.*$1F =+ =$%>4%04* 1%$1$H+,14*4&N $01O+* B,>A1 0F O&+ ,+>+0$%F >%+I1+%+$ ).G+*.% )+ $,$*(+G&>3 ;+.$%+>+ .=&.&)+*+ )+ 1%+$=1F :: $4 ).GF H$f&HF Q=+ G&RN B, H.H+,14* B, >$%+ 0'$ $1&,0 ,&@+*4* H$f&HN &$% =$>&+,14* =%+G&,1F )4%+%& ,+>.,1%.*$1+ 0+ &H=4,+ 1%+>+%+$ *$ 1%+$=1$ 04=+%&.$%F Q.=&.&) KH$k.%MN )+ 1%+$=1F :::R3 'P+ >$*>4*+$GF ).G$ G&*,&>F +>]&@$*+,1Fr+>]&$,$*(+G&>F Q>.,O.%H 1$D+*+*.% )+ >.,@+%0&+R ';$>F )4%+%+$ $ O.01 ,+>.,1%.*$1F 0+ >%+I1+ ).G$ ,.4*4& .=&.&) >4 SY'ZY{ ';.G$ G&*,&>F 0+ )&@&)+ *$ _ =+,1%4 >$*>4*4* ).G+& .=&.&)4*4& >4 +*&D+%$%+ &H+)&$1F Q)+ $)H&,&01%$1 *$ b .%+R e +f3 H.%O&,$N 0$4 *$ ? =+,1%4 ).G$ )+ .=&.&) >4 +*&D+%$%+ =%+*4,(&1$ Q*$ "? .%+R3 7>'Y'*&*/ ?&/?/H*>?@C@' A@ 6)&"'>F C/ G/A'*>Y'' )G)'+ >/'I' -$ H4*[& =$>&+,[& 1%+>+%+$ =+ 1+%$=&+ >4 .=&.&)+ )+ =+ . 1+%$=&+ >4 $,$*(+G&>+ ,+' .=&.&)+ 0$4 >4 >.$,$*(+G&>+ +^4+$GF B, >.,1%.*$%+$ $)+>@$1F $ )4%+%&&3 <,+.%& 0+ B,1AH=*F >$ 4, =$>&+,1 >$%+ ,4 $ *4$1 B,$&,1+ .=&.&)+ @$ +f=+%&H+,1$ . )4%+%+ $>41FN 0+@+%FN >4 )+D41 D%40>3 801O+* )+ +f+H=*+ 04,1 =$>&+,[&& >$%+ $4 04O+%&1 . O%$>14%F =$1.*.(&>F 0$4 >.H=%&H$%+$ 4,4& ,+%@3 7+>.H$,)F%&*+ =+,1%4 1%$1$%+$ )4%+%&& $>41+N 0+@+%+ *$ =$>&+,[&& .=&.&) ,$&@& &,1+%,$[& Q0$4 ,+&,1+%,$[&N )$% 04D H.,&1.%&G$%+ $1+,1FR 04,1d " H( )+ H.%O&,F &3@3 *$ " H&,41 1&H= )+ "Y H&,41+N 4%H$1 )+ . =$4GF )+ Z H&,41+ ^& $=.& 0+ %+=+1F >&>*4* =A,F *$ >$*H$%+$ )4%+%&&3 5%+D4&+ H.,&1.%&G$1+ $1+,1 %+$>[&&*+ =$>&+,14*4& ^& +O+>14* $04=%$ )4%+%&&3 601+ O.$%1+ &H=.%1$,1F H.,&1.%&G$%+$ 01F%&& )+ @&(&*+,[FN )+.$%+>+ 0+)$%+$ =%+>+)+ )+1%+0$ %+0=&%$1.%&+3 ;$>F )4%+%+$ =$>&+,14*4& ,4 0'$ >$*H$1 )4=F SY H( )+ H.%O&,F =$%+,1+%$*F 0$4r^& )$>F $>+01$ +01+ 0+)$1 0$4 O%+>@+,[$ %+0=&%$1.%&+ +01+ H$& H&>F )+ "Y %+0=&%$[&&rH&,41N $14,>& 1%+D4&+ &,@+01&($1F 04=*&H+,1$% )4%+%+$3 /=&.&)+*+ $*1+%,$1&@+ &,>*4) ?Y u( O+,1$,&*rH&,41 0$4 YN? H( ]&)%.H.%O.,FrH&,413 )$>F 0+ =%+O+%F $)H,&01%$%+$ 03>3 0+ 41&*&G+$GF ? H( H.%O&,F *$ Z H&,41+ Q0$4 bY u( O+,1$,&* 0$4 YNb H( ]&)%.H.%O.,FR =A,F *$ >.,1%.*$%+$ )4%+%&&N %+0=+>1A,) $>+*+$^& HF04%& )+ =%+>$4[&+ ^& H.,&1.%&G$%+ >$ *$ $)H&,&01%$%+$ &3@3 •
•
??b
)$>F 0+ 41&*&G+$GF >$*+$ .%$*FN Z H( )+ H.%O&,F >4 $)H&,&01%$%+ &H+)&$1F Q0$4 " H( ]&)%.H.%O.,F 0$4 Z H( .f&>.).,FR 0+ @.% $)H&,&01%$ *$ SY )+ H&,41+ =A,F *$ >.,1%.*$%+$ )4%+%&&3 9+,1%4 =40+4* )4%+%.0 0+ $)H&,&01%+$GF B,>F . ).GF 04=*&H+,1$%F +($*F >4 >+$ )+ b .%+3 •
5$D+*4* ::3 :,&E&+%+$ 1%$1$H+,14*4& >4 H.%O&,F .%$*F )4=F @A%01F ^& O4,>[&$ %+,$*F Q=$>&+,1 .=&.&) ,$&@R Pp&.?F
T@>AY'* &*>/CF
N)Q/ 6)&"'>F )&/CF
,.%H$*F ,.%H$*F
"Y H( *$ b'_.%+ Z H( *$ b'_ .%+
04D _Z $,&
%+)40F
"Y H( *$ _'\ .%+
=+01+ _Z $,&
%+)40F
Z H( *$ _'\ .%+
04D _Z $,& =+01+ _Z $,&
-$ 1%+>+%+$ )+ *$ H.%O&,$ .%$*F *$ H.%O&,$ 03>3 ).G+*+ )+ *$ $)H&,&01%$%+$ .%$*F 0+ @.% )&@&)+ *$ ? Q)4=F 4,&& $41.%& *$ SR =+,1%4 $ 01$D&*& ).G$ +>]&$,$*(+G&>F )+ H.%O&,F =+,1%4 $)H&,&01%$%+$ 03>3 Q=+,1%4 =$>&+,E&& $O*$E& B, 1%$1$H+,1 >%.,&> >4 H.%O&,FR3 5'?&/&*/ H)&"'>*'^ ';$>F =%&H$N =%&H+*+ ).G+ =%.)4> 0+)$%+ &,1+,0F 0+ =.$1+ %+)4>+ ).G$ >4 ZY{ I& 0F O$>+H H$& *+,1 1&1%$%+$3 ';$>F ).G$ &,&E&$*F ,4 =%.)4>+ )+*.> $,$*(+G&+N ).G$ 4%HF1.$%+ 0+ >%+I1+ >4 ZY{3 'C, H.) ,.%H$* ).G+*+ 0+ >%+0> G&*,&> QSY'ZY'"YY{R =A,F 0+ .DE&,+ $,$*(+G&$ .=1&HF3 5$D+*4* :::3 8)H&,&01%$%+$ #.%O&,+& I& $ $,$*.(&*.% +& ;.G$ &,&E&$*F
940+4* )4%+%.0 QD%+$j1]%.4(]R ;4%+%+ &,>&)+,1F 8k401F%&*+ ;.G+&
£ P+ 0&01+$GF $)H&,&01%$%+$ .=&.&)4*4& )+ 1%+$=1F :: £ P+ B,>+=+ >4 H.%O&,F .%$*F Q>4 +*&D+%$%+ &H+)&$1FR "Y H( *$ b .%+ v ).G$ K*$ ,+@.&+M Q=3%3,3R £ P+ %+@&G4&+I1+ H+)&>$E&$ )4=F ?b .%+ £ P+ =.$1+ Q)4=F 4,&& $41.%&R B,>+=+ I& >4 $)H&,&01%$%+$ )+ =%+=$%$1+ >4 +*&D+%$%+ *+,1F ?Y H( f ?rG& I& Z e "Y H( #.%O&,F >4 +*&D+%$%+ &H+)&$1 F ' ).G$ =3%3,3 £ P>.=4* 1&1%F%&& +01+ )+ $ 41&*&G$ >$,1&1$1+$ >+$ H$& H&>F )+ .=&.&) B, 0>.=4* .DE&,+%&& 4,4& >.,1%.* 0$1&0OF>F1.% $* )4%+%&&N >4 >+*+ H$& =4E&,+ +O+>1+ 0+>4,)$%+ &,01$*$1+ £ 601+ 1%$1$1 >4 . ).GF )+ #.%O&,F B, =*40N .%&>A,) +01+ ,+@.&+N )$% ,4 H$& )+@%+H+ )+ " .%F )+ *$ ).G$ =%+>+)+,1F )+ #.%O&,F $)H&,&01%$1F 3 £ ;.G$ +01+ 0&H&*$%F ).G+& )+ #.%O&,F *$ O&+>$%+ b .%+ Q"r_ )&, ).G$ G&*,&>FR3 £ 601+ 1%$1$1F *$ O+* >$ I& )4%+%+$ )+ =40+4N )$% 0+ $)H&,&01%+$GF >4 SY )+ H&,41+ B,$&,1+ )+ O$>1.%4* >$%+ )+>*$,I+$GF )4%+%+$3 £ ;$>F =%&H$ 0$4 =%&H+*+ ).G+ =%.)4> 0+)$%+ &,1+,0FN ).G$ 0+ %+)4>+ >4 ZY{ =+,1%4 . =+%&.$)F )+ 1+013 £ ;$>F =%&H$ 0$4 =%&H+*+ ).G+ Q>4 0$4 OF%F ).G$ =+,1%4 )4%+%+$ )+ =40+4R =%.)4> $,$*(+G&+ 0*$DF 0$4 )+*.>N 0+ >%+0> ).G+*+ >4 ZY{ Q=+,1%4 ).G+*+ "Z H(R 0$4 "YY{ Q=+,1%4 ).G+*+ ™ "Z H(R3 £ 601+ ,+>+0$%F . +@&)+,EF $ ).G+*.% )+ =40+4N =+,1%4 $k401$%+$ 4*1+%&.$%F $ ).G+& )+ #.%O&,Fd '1.1$*4* ).G+*.% )+ =40+4 QH(rG&R B, G&4$ =%+>+)+,1FN 0+ $)4,F >4 1.1$*4* ).G+*.% O&f+ QH(rG&R )&, G&4$ =%+>+)+,1FN =+,1%4 $O*$%+$ ,.&& ).G+ G&*,&>+ $ =$>&+,14*4&3 T.4$ ).GF G&*,&>F .D&I,4&1F QH(rG&R 0+ BH=$%1+ *$ _ =+,1%4 $O*$%+$ ,.&& ).G+ $)H&,&01%$1+ *$ O&+>$%+ b .%+3
2.,@+%1&%+$ =$>&+,14*4& *$ >.H=4I& )+ #.%O&,F >4 +*&D+%$%+ >.,1&,4F +01+ &,)&>$1Fd
??Z
2A,) >.,1%.*4* )4%+%&& +01+ %+$*&G$1 =%&, 41&*&G$%+$ #.%O&,+& >4 +*&D+%$%+ &H+)&$1FN 1%+D4&+ *4$1F B, >.,0&)+%$E&+ =.0&D&*&1$1+$ 1%+>+%&& =$>&+,14*4& *$ =%+=$%$1+ >4 +*&D+%$%+ >.,1&,4F B, $>++$I& ).GF 04H$%F G&*,&>F3 -$ 1%$,0O+%$%+$ =$>&+,14*4& )+ *$ ).G$ )+ #.%O&,F >4 +*&D+%$%+ &H+)&$1F *$ O&+>$%+ b .%+ *$ =%+=$%$1+ >4 +*&D+%$%+ >.,1&,4FN 0+ B,>+=+ >4 $)H&,&01%$%+$ =%+=$%$14*4& >4 +*&D+%$%+ >.,1&,4F *$ .%$ >A,) 4%HF1.$%+$ ).GF )+ H+)&>$H+,1 >4 +*&D+%$%+ &H+)&$1F $% O& 1%+D4&1 $)H&,&01%$1F I& 0+ @$ %+,4,E$ *$ H+)&>$H+,14* >4 +*&D+%$%+ &H+)&$1F3 -$ >.,@+%0&$ )+ *$ 4, .=&.&) *$ $*14*N 04,1 +0+,E&$*+ +@$*4F%&*+ I& %++@$*4F%&*+ %+=+1$1+ $*+ +O&>$>&1FE&& I& $*+ +O+>1+*.% $)@+%0+3 9.$1+ O& ,+>+0$%F 1&1%$%+$ ).G+& B, >.,>.%)$,EF >4 ,&@+*4* )+ >.,1%.* $* )4%+%&& I& >4 +O+>1+*+ $)@+%0+3 •
•
J2$(&+& PfC ;%4(&( 1( /%"7(*8'( 1( &2 U%*='"2 %*2&3 &2 K(")2"H& )*2"81(*9'/ #.%O&,F .%$*F B, ?b )+ .%+ QH(rG&R ™ XY XY e "Sb "SZ e "\X "XY e ??b ??Z e S"b S"Z e bYb
J+,1$,}* 1%$,0)+%H&> Q¥(r.%FR ?Z ?Z ZY ZY aZ "YY
bYZ e bXb bXZ e Z\b Z\Z e _ab _aZ e a_b
"?Z "ZY "aZ ?YY
a_Z e \Zb \ZZ e Xbb XbZ e "YSb "YSZ e ""?b
??Z ?ZY ?aZ SYY
1?'C'Q/&*/ T*>?/>-C ?&/>.+*&H/Cd £ 2.,>+,1%$E&$ =*$0H$1&>F $ O+,1$,}*4*4& >%+I1+ =%.(%+0&@N )+ .D&>+& $1&,(A,) 4, ,&@+* >.,01$,1 )4=F "?' ?b )+ .%+N $=.& >.,>+,1%$E&$ 0+ H+,E&,+ >.,01$,1F 4, 1&H=N )4=F >$%+ 0>$)+ B,>+1 £ ;4=F B,)+=F%1$%+$ 0&01+H4*4&N >.,>+,1%$E&$ =*$0H$1&>F $ O+,1$,}*'4*4& 0>$)+ *$ ZY{ B, $=%.f&H$1&@ "a .%+ Q>4 *&H&1+ B,1%+ "S I& ?? )+ .%+R £ P+ O.%H+$GF 4, )+=.G&1 04D>41$,$1 )&, >$%+ 0+ $D0.$%D+ O+,1$,}*4* B, >&%>4*$E&+ £ -$ )+D414* 1%$1$H+,14*4& 1%+D4&+ *4$1+ >A1+@$ HF04%& )+ =%+>$4E&+d ' )+.$%+>+ +O+>14* $=$%+ 1A%G&4 )4=F $=*&>$%+$ =*$014%+*4& Q\'"? .%+R 1%+D4&+ 0F & 0+ $0&(4%+ =$>&+,14*4& $,$*(+G&$ B, $>+01 &,1+%@$* )+ )+D41 =%&, $*1+ H+)&>$H+,1+ ' =%&H$ $=*&>$%+ 0F O&+ OF>41F )&H&,+$E$N $I$ B,>A1 =$>&+,14* 0F =.$1F O& 4%HF%&1 =+ =$%>4%04* =%&H+*.% "? .%+ B, >$%+ ,&@+*4* =*$0H$1&> $* O+,1$,}*4*4& >%+I1+N =+,1%4 $ ,4 $=$%+ %&0>4* )+ 04=%$).G$%+ B, >4%04* ,.=E&&3 :,)&>$E&&*+ O+,1$,}*4*4& 1%$,0)+%H$* £ =$>&+,E& >4 )4%+%+ >.,01$,1F £ =$>&+,E& >4 &,>.H=+1+,EF )&(+01&@F
??_
£ =$>&+,E& >4 +O+>1+ 0+>4,)$%+ 0+@+%+ *$ $*1+ .=&.&)+ Q+f3 =$>&+,E& >4 >.,01&=$E&+ %+D+*FR £ H.)$*&1$1+ )+ $ >%+I1+ ).G$ )+ .=&.&) J2$(&+& fC ;%4(&( (/@'72&(")( 2,*%<'92)'7( 2&( %,'%'1(&%* 1( )*(2,)3 PPP
<&)A*+@&'C* />*.?*Q'A*V >*@&)C'?'A* k' >*@&)AD'&@&('A/C* W> ?&/?/&*/ +@&*&'' :,1+%@+,E&&*+N =%+>4H D*.>$k4* =*+f4*4& >+*&$> I& $)H&,&01%$%+$ .=&.&)+*.% ,+4%$f&$*N 1%+D4&+ 41&*&G$1+ =+,1%4 BHD4,F1FE&%+$ >.,1%.*4*4& B, )4%+%+ I& $ >$*&1FE&& @&+E&& *$ =$>&+,E&& >4 )4%+%+ (%+4 )+ >.,1%.*$1N B, >$,>+%3 `+,+O&>&$%&& >+& H$& O%+>@+,E& 04,1 =$>&+,E&& >4 D.*& $@$,0$1+ *.>$*N >4 )4%+%+ ,+4%.=$1F 0$4 >4 )4%+%+ H$%>$,1F *$ H&I>$%+3 5$D+*4* g:3 9%.>+)4%& &,@$G&@+ B, >.,1%.*4* )4%+%&&
5*&/G'' "'Q'A* W> ?&/?/&*/ +@&*&'' £ 2]&%4%(&+ £ 5+%$=&+ =%&, >F*)4%F £ 5+%$=&+ =%&, O%&( £ 5+%$=&+ +*+>1%&>Fd 56TPN 1%$1$H+,1 ,+4%.01&H4*$1.% £ :%&1$,1+ 1.=&>+ £ 8>4=4,>14%$ £ 5+%$=&+ H+>$,&>Fd H$0$kN +f+%>&E&& 1+%$=+41&>+N H$,&=4*$%+N $=$%$1+ )+ 04=.%1 $ H.D&*&1FE&&
??a
5&/?/H*>?@C .@"*&'>Y*' G.'D)C)('A* i G&*.@G@>* £ $D.%)$%+ $1+,1FN OF%F (%$DFN H$,&O+01$%+$ >.H=$0&4,&& I& $ B,E+*+(+%&& £ >.H4,&>$%+ $)+>@$1F £ $0&(4%$%+$ >.,1&,4F%&& B,(%&k&%&& £ %+0=+>1$%+$ =+%0.$,+& I& $ &,)&@&)4$*&1FE&& £ &H=*&>$%+$ B, 1%$1$H+,1 I& B, B,(%&k&%+N =F01%$%+$ 0+,1&H+,14*4& )+ >.,1%.* £ 01&H4*$%+$ =$>&+,E&*.% )+ $ )&0>41$ )+0=%+ 1+H+%&*+ *+($1+ )+ 04O+%&,E$ @&&1.$%+ I& )+ =%.(,.01&> £ 1%$1$H+,1 0.>&$*d $D.%)$%+$ $0=+>1+*.% 0.>&$*+q B,>4%$k$%+$ 04=.%14*4& 0.>&$* )&0=.,&D&*N O$>&*&1$%+$ 41&*&GF%&& %+04%0+*.% 0.>&$*+q $0&(4%$%+$ )+ 04=.%1 =+,1%4 O$H&*&+ I& =+,1%4 B,(%&k&1.%&q $0&01$%+$ B, $0=+>1+ *+($*+ I& O&,$,>&$%+ £ %+0=+>1$%+$ )&O+%+,E+*.% >4*14%$*+ £ )+=FI&%+$ D$%&+%+*.% *&,(@&01&>+ £ $D.%)$%+$ ,+>+0&1$E&*.% %+*&(&.$0+ 0$4 0=&%&14$*+ £ 1%$1$H+,1 =0&].*.(&>d 0=%&k&, =0&].*.(&> (+,+%$*N .O+%&%+ )+ &,O.%H$E&&N (%4=4%& )+ 0=%&k&,N %+*$f$%+N H+)&1$E&+N 1+%$=&+ >.(,&1&@'>.H=.%1$H+,1$*F 6f&01F )+0&(4% I& *&H&1F%& B, $>>+04*N =%+0>%&=E&$ I& 41&*&G$%+$ .=&.&)+*.%N B, =.O&)$ ,+>+0&1FE&& B, >%+I1+%+ )+ $ *+ 41&*&G$ =+,1%4 >.,1%.*4* $)+>@$1 $* )4%+%&&d X/&'*&*C* B, $>>+04* *$ .=&.&)+ 04,1 %+=%+G+,1$1+ )+d 1+$H$ +f>+0&@F )+ $)&>E&+ Q)+=+,)+,EF =0&]&>FR 1+$H$ H+)&>&*.% )+ $ O& >+%>+1$E& *+($* 0& =+)+=0&E& 1%$1$H+,14* )4%+%&& ,4 + =%&@&1 >$ . =%&.%&1$1+ B, 0&01+H4* 0$,&1$% *&=0$ )+ +)4>$E&+ B, 1+%$=&$ )4%+%&& B, >$)%4* 0&01+H4* +)4>$E&.,$* • • • • • •
+@$*4$%+$ &,$)+>@$1F $ =%.D*+H+& *$ ,&@+* (4@+%,$H+,1$* D$%&+%+ $)H&,&01%$1&@+ B, =%+0>%&+%+ Q%+(4*& 01%&>1+N D&%.>%$E&+R
6'?@&' +*.G&* )G')'+*d "3 #&1d n;$>F $H ,+@.&+ )+ H.%O&,F B,0+$H,F >F 0OA%I&14* +01+ $=%.$=+M 7+$*&1$1+d #.%O&,$ 0+ &,1%.)4>+ B, 1%$1$H+,1 B, O4,>E&+ )+ 0+@+%&1$1+$r&,1+,0&1$1+$ )4%+%&& I& ,4 B, O4,>E&+ )+ 01$)&4* D.*&&3 ;$>F 0+ $)H&,&01%+$G$ >.%+>1N H.%O&,$ =.$1+ O& 41&*&G$1F 1&H= B,)+*4,($1 I& =.$1+ O& >.H=$1&D&*F >4 4, 01&* )+ @&$EF ,.%H$*3 ?3 #&1d n#.%O&,$ )+1+%H&,F )+=%+0&+ %+0=&%$1.%&+M 7+$*&1$1+d /=&.&)+*+ %+)4> %F0=4,04* @+,1&*$1.% *$ ]&=+%>$=,&+N ]&=.f&+ I& $>1&@&1$1+ O&G&>FN )&H&,4$,) +O.%14* %+0=&%$1.% I& )&0=,++$3 #.%O&,$ $%+ &,)&>$E&+ >]&$% B, 1%$1$H+,14* )&0=,++&3 7&0>4* )+ $=$%&E&+ $ )+=%+0&+& %+0=&%$1.%&& +01+ H&>N &$% 1.*+%$,E$ *$ )+=%+0&+ %+0=&%$1.%&+ 0+ &,01$*+$GF %$=&)3 / +@$*4$%+ >.,1&,4F 0& . 1&1%$%+ >.%+>1F $ .=&.&)+*.% %+)4>+ %&0>4* )+ )+=%+0&+ %+0=&%$1.%&+3 S3 #&1d n9$>&+,E&& >$%+ =%&H+0> H.%O&,F )+G@.*1$ $))&>E&+M 7+$*&1$1+d 7&0>4* )+ $))&>E&+ Q)+=+,EF =0&].*.(&>FR *$ =$>&+,E&& >4 )4%+%+ +01+ H&>N O&&,) )&O+%&1F D&,+B,E+*+0 )+ )+=+,)+,E$ O&G&>F3 b3 #&1d n5.*+%$,E$ *$ .=&.&)+ 0+ )+G@.*1F %$=&)M 7+$*&1$1+d 5.*+%$,E$ 0+ &,01$*+$GF )+014* )+ *+,1 B, 1&H=4* 1%$1$H+,14*4& >4 .=&.&)+ =+,1%4 )4%+%+3 -$ =$>&+,E&& >4 >$,>+% ,+@.&$ >%+I1+%&& ).G+*.% 0+ $0.>&$GF >4 =%.(%+0&$ D.*&&N
??\
,4 >4 &,01$*$%+$ 1.*+%$,E+&3 9%&, >.,1%$01N *$ =+%0.$,+*+ >$%+ ,4 $4 )4%+%+ I& BI& $)H&,&01%+$GF &,1%$@+,.0 #.%O&,$N 1.*+%$,E$ $=$%+ %$=&)3 Z3 #&1d n#.%O&,$ $%+ +O+>1+ 0+>4,)$%+ &,$>>+=1$D&*+M 7+$*&1$1+d L%+$E$N @F%0F14%&*+ I& 0+)$%+$ 04,1 +O+>1+ 0+>4,)$%+ O%+>@+,1+ >$%+ $=$% *$ &,&E&+%+$ 1%$1$H+,14*4& >4 .=&.&)+N )$% )&0=$% B, >A1+@$ G&*+3 -$ >.,01&=$E&+ ,4 0+ &,01$*+$GF 1.*+%$,E$N )+ $>++$ 0+ $)H&,&01%+$GF *$f$1&@+ B,1%+$($ =+%&.$)F )+ 1%$1$H+,1N >.,>.H&1+,1 >4 .=&.&)4*3 _3 #&1d n;.G$ )+ .=&.&) ,+>+0$%F =+,1%4 >.,1%.*4* )4%+%&& +01+ $>++$I& =+,1%4 $=%.$=+ 1.E& =$>&+,E&&M 7+$*&1$1+d 7$0=4,04* *$ $,$*(+G&>+ .=&.&)+ +01+ &,)&@&)4$*&G$13 ;.G$ .=1&HF +01+ ).G$ >$%+ =%.)4>+ $,$*(+G&+ >4 +O+>1+ 0+>4,)$%+ 1.*+%$D&*+3 a3 #&1d n;4%+%+$ 0+@+%F %F0=4,)+ ,4H$& *$ 1%$1$H+,14* &,k+>1$D&*M 7+$*&1$1+d C,(%&k&%+$ =$*&$1&@F $ )+H.,01%$1 >F .=&.&)+*+ $4 +O+>1 $,$*(+G&> I& B, $*1+ O.%H+ )+ =%+G+,1$%+3 6f&01+,E$ I& +O&>&+,E$ =%+=$%$1+*.% >4 +*&D+%$%+ >.,1%.*$1FN $ >+*.% 1%$,0)+%H&>+N 0&H=*&O&>F 0>]+H$ 1+%$=+41&>F 0& >%+I1+ >.H=*&$,E$3 \3 #&1d n9%+0>%&+%+$ =%+>.>+ $ H.%O&,+& )4>+ *$ +=4&G$%+$ H&k*.$>+*.% )+ $,$*(+G&+ B, 01$)&&*+ 1+%H&,$*+M 7+$*&1$1+d #.%O&,$ ,4 $%+ ).GF H$f&HF3 8I$ >4H 0'$ .D0+%@$1 )+k$N =+ =$%>4%04* +@.*4E&+& D.*&& ).G$ =.$1+ O& >%+0>41F Q1&1%$1F $0>+,)+,1R =+,1%4 .DE&,+%+$ +O+>14*4& $,$*(+G&> X3 #&1d n;$>F 4, .=&.&) ,4 $%+ +O+>1N $14,>& ,&>& 4,4* ,4 @$ O& +O&>&+,1M 7+$*&1$1+d 7F0=4,04* *$ .=&.&)+ +01+ &,)&@&)4$*3 ;$>F 4, .=&.&) ,4 +01+ +O&>&+,1r$%+ +O+>1+ 0+>4,)$%+ 0+@+%+ 0+ @$ %+>4%(+ *$ %.1$E&$ .=&.&)+*.%3 "Y3 #&1d n#.%O&,$ O$>+ %F4 .%($,&0H4*4& I& (%FD+I1+ H.$%1+$M 7+$*&1$1+d /=&.&)+*+ ,4 $O+>1+$GF ,&>& 4, .%($, I& 0'$ )+H.01%$1 >F =.1 O& $)H&,&01%$1+ 1&H= B,)+*4,($13 ;+ $*1O+* .=&.&)+*+ 0+ 41&*&G+$GF 1&H= )+ $,& )+ G&*+ =+,1%4 )4%+%+$ )&, $O+>E&4,& >%.,&>+ ,.,'.,>.*.(&>+3 #.%O&,$ ,4 =%.@.$>F H.$%1+$ Q)$>F +01+ 41&*&G$1F >.%+>1R3 ""3 #&1d n601+ &,)&>$1 0F %+)4>+H ).G$ )+ .=&.&)+ >$,) =$>&+,14* +01+ &,>.,I1&+,1 0$4 B, O$G$ 1+%H&,$*FM 7+$*&1$1+d C, >$G4* =$>&+,E&*.% B, O$GF 1+%H&,$*F +01+ H$& D&,+ 0F =%+04=4,+H >F )4%+%+$ +01+ B,>F =%+G+,1F I& 0F >.,1&,4FH $)H&,&01%$%+$ %+(4*$1F $ H+)&>$E&+&N $0&(4%A,)4' ,+ $01O+* >F =%.>+04* H.%E&& +01+ >A1 H$& =4E&, )4%+%.0 =.0&D&* "?3 #&1d n/=&.&)+*+ 0+ $)H&,&01%+GF ,4H$& B, >$,>+%M 7+$*&1$1+d ;+>&G&$ )+ O.*.0&%+ $ .=&.&)+*.% 1%+D4&+ )&>1$1F )+ &,1+,0&1$1+$ )4%+%&& I& ,4 )+ 1&=4* D.*&&3 /=&.&)+*+ 04,1 )+ $*1O+* O.*.0&1+ B, .01+.$%1%&1+N )4%+%& $*+ >.*.$,+& @+%1+D%$*+N )4%+%+ =.01.=+%$1.%&+N O%$>14%&N 1%$4H$1&0H+N 4,+*+ )4%+%& ,+4%.=$1&>+3 ¦, >.,>*4G&+N $D.%)$%+$ )4%+%&& B, B,(%&k&%+$ =$*&$1&@F =%+04=4,+ . $1+,1F 4%HF%&%+ $ =$>&+,14*4&N %+>4,.$I1+%+$ 1414%.% 1&=4%&*.% )+ )4%+%+ $=F%41+ =+ =$%>4%04* +@.*4E&+& D.*&&N $D.%)$%+$ ].*&01&>F Q&,>*4G¢,) =*$,4%&*+ O&G&>N =0&].'+H.E&.,$*N 0.>&$* I& 0=&%&14$*RN $)$=1$%+$ I& $k401$%+$ B, =+%H$,+,EF $ 1%$1$H+,14*4&3
??X
X'KC')(&/"'* "3 ;$,&+*$ #.I.&43 8`2'4* #+)&>&,+& 9$*&$1&@+3 6)3-4f -&D%&03 ?Y"? ?3 ;$,&+*$ #.I.&43 9%+0>%&+%+$ I& 41&*&G$%+$ .=&.&)+*.% B, H$,$(+H+,14* )4%+%&&3L]&) 9%$>1&>3 6)&1.% -4f -&D%&03 ?YYa S3 #$f x$10.,N 2$%.*&,+ -4>$0N 8,)%+~ l.}N m. x+**03 /fO.%) l$,)D..j .O 9$**&$1&@+ 2$%+3 /fO.%) <,&@+%0&1} 9%+00N 0+>.,) +)&1&.,N ?Y"Y b3 ;3;.}*+3 /fO.%) 5+fD..j .O 9$**&$1&@+ #+)&>&,+3 /fO.%) <,&@+%0&1} 9%+003 ?YYS Z3 #$%} -},, #>9]+%0.,3 2$*>4*+ )+ >.,@+%0&+ $ .=&.&)+*.%d4, (]&) =+,1%4 . ).G$%+ _3 a3 \3 X3
+O&>&+,1F3 J$%H$#+)&$N ?Y"? =$*&$1&@+3 6)3 l$>. :,1+%,$1&.,$*N ?Y"S 9%.1.>.$*+6)3 >*&,&>+ =+,1%4 B,(%&k&%& 735~}>%.00N 83x&*>.>j3 2.,1%.*4* 0&H=1.H+*.% B, >$,>+%4* $@$,0$13 6)3-4f -&D%&03 ?YYa 73x..)%4OO3 ;4%+%+$ B, >$,>+%3 ?YY? ””” P4=.%1 )+ >4%0 =+,1%4 =%+(F1&%+$ B, @+)+%+$ .DE&,+%&& $1+01$14*4& B, B,(%&k&%+$ =$*&$1&@F
?SY
23;1; 4,4;%0o790;32 3<73N0 Z, 5024<74 N120277 #$%&$'#$()$*+,$ -+.,N /01&, 23 #4,(&4 ;&0>&=*&,$ )+ P+H&.*.(&+ #+)&>$*F ;&0>&=*&,$ )+ J$%H$>.*.(&+'8*(+G&.*.(&+ <#J oL%&(.%+ 53 9.=$o :$^& 7>?&)+@A*&* #+)&>$E&$ .=&.&)F 0+ O.*.0+I1+ B, >$G4* )4%+%&*.% ,+.=*$G&>+ )$% I& B, )4%+%&*+ H.)+%$1+ I& 0+@+%+ ,.,,+.=*$G&>+N B, 0=+>&$* >+*+ >$%+ ,4 %F0=4,) *$ H+)&>$E&$ $,$*(+G&>F )+ 1%+$=1F : I& ::N $0.>&$1F >4 0=$0H.*&1&>+ I&r0$4 >4 H+)&>$E&+ =0&].1%.=F QL4*4%N ?YYaR3 #$%+*+ )+G$@$,1$k $* 41&*&GF%&& )+ *4,(F )4%$1FN B, 1%$1$H+,14* )4%+%&& >%.,&>+ $ .=&.&)+*.%N +01+ %&0>4* &,01$*F%&& )+=+,)+,E+& I& $))&>E&+&3 2$ 4%H$%+N +f&01F . $)+@F%$1F n.=&.O.D&+M H$,&O+01$1F $1A1 *$ =$>&+,1N >F%4&$ B& +01+ O%&>F )+ O.*.0&%+$ *.%N >A1 I& *$ H+)&>N >$%+ +01+ B,(%&k.%$1 )+ =.0&D&*&1$1+$ $=$%&E&+& $))&>E&+& I& >]&$% *$ O$%H$>&01N B, *+(F14%F >4 +*&D+%$%+$ %+E+1+& >$%+ ,+>+0&1F 4, %+(&H 0=+>&$*3 8>+01 O+,.H+, $ >.,)40 *$ 41&*&G$%+$ *&H&1$1F $ .=&.&)+*.% B, H$,$(+H+,14* )4%+%&&3 8>14$*H+,1+ 0+ B,>+$%>F . H$& D4,F &,O.%H$%+ $ H+)&>&*.% )+ )&@+%0+ 0=+>&$*&1FE& =+,1%4 . +f1&,)+%+ $ O.*.0&%&& .=&.&G&*.% I& B,*F14%$%+$ D$%&+%+*.% B, B,>+%>$%+$ )+ $ )&H&,4$ ,4HF%4* =$>&+,E&*.% >4 )4%+%&3 /)$1F >4 $=$%&E&$ *+(&& SSXr?YYZ >$%+ =+%H&1+ .%&>F%4& H+)&> 0F =%+0>%&+ .=&.&)+ =+,1%4 $O+>E&4,& .,>.*.(&>+ )$% I& ,.,.,>.*.(&>+ 1%+D4&+ *4$1+ HF04%& +,+%(&>+ I& +O&>&+,1+ =+,1%4 $ 0+ +@&1$ $D.%)$%+$ >.,01%4>1&@F $ 41&*&GF%&& .=&.&)+*.% I& $ >.,@&,(+ H+)&>&& >F =$>&+,14* >4 )4%+%+ ,4 O$>+?YYaR3 $)&>E&+ $1A1 1&H= >A1 $%+ )4%+%& I& 41&*&G+$GF .=&.&)4* =+,1%4 >$*H$%+$ $>+01.%$ Q#4,(&4N 7>+'A/S'' 7+>+,1 $4 O.01 )+G@.*1$1+ ).4F $D.%)F%& $*1+%,$1&@+ $*+ 0>F%&& /#P3 2+$ H$& >4,.0>41F )&,1%+ +*+ +01+ $D.%)$%+$ K ,'*29'12 -' ,2"A&'/2MN 040E&,41F )+ >F1%+ ;+=$%1$H+,14* )+ PF,F1$1+ $* P<8N 8(+,E&$ =+,1%4 2+%>+1$%+ I& 9.*&1&>F $ C,(%&k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f=*&>&1F B, $>+$01F $D.%)$%+ )+>A1 B, >$G4* 0>F%&&3 8>+01 *4>%4 +01+ 41&* B, 0=+>&$* $14,>& >A,) $,$*(+G&>+*+ 04,1 &,+O&>$>+ I& 1%+D4&+ >.,0&)+%$1+ $*1+ .=E&4,&3Qm$D$N #4,(&4N ?YYaR
?S"
J&(4%$3 "3 9&%$H&)$ I& =$,(*&>$ Q$)$=1$1 )4=F ;$@&0 #N ?YYZR 2+$ )+'$ ).4$ $D.%)$%+ +01+ $I$ ,4H&1$ $D.%)$%+ B, =$1%4 =$I& KP}),+} P1&>jH$,MN $%+ *$ D$GF . 0>]&EF 4H$,F I& >.HD&,F +@$*4$%+$ H4*1&)&H+,0&.,$*F $ =$>&+,14*4& >4 $=*&>$%+$ &,)&@&)4$*&G$1F $ )&O+%&1+*.% H.)$*&1FE& )+ 1%$1$H+,13 2+& =$1%4 =$I& 04,1 %+$*&G$E& >+* H$& D&,+ B, .%)&,+ >%.,.*.(&>FN >]&$% )$>F 1.E& 04,1 >.,0&)+%$E& B,1%'. =+%&.$)F 0>4%1F )+ 1&H=3 8>+$01F $D.%)$%+ B,1F%+I1+ >.H4,&>$%+$ >4 =$>&+,14*N =$>&+,14* K0+ )+0>.=+%F =+ 0&,+M Qm$D$N #4,(&4N ?YYaR3 81A1 $D.%)$%+$ K=&%$H&)$ I& =$,(*&>$M >A1 I& KP1&>jH$,M $).=1F . $D.%)$%+ 0&H&*$%FN B, =$1%4 =$I&d
?S?
J&(4%$3 ?3 #$,$(+H+,14*4& )4%+%&& >%.,&>+ B, >$,>+% Q$)$=1$1 )4=F ;$@&0 #N ?YYZR 0I/C@/&*/ +@&*&'' 6@$*4$%+$ )4%+%&& +01+ &,)&0=+,0$D&*F =+,1%4 .DE&,+%+$ 4,+& $,$*(+G&& 0$1&0OF>F1.$%+ I& >4=%&,)+ I$0+ =%&,>&=&& )+ D$GF Q#&%., :N ?YY_Rd "3 )4%+%+$ +01+ 4, 0&H=1.H 04D&+>1&@N $%+ &,1+,0&1$1+$ I& >$%$>1+%4* )+0>%&0 )+ D.*,$@q ?3 )4%+%+$ 1%+D4&+ &,@+01&($1F >4 $1+,E&+d $,$H,+GFN +f$H&,$%+N &,@+01&($E&& =$%$>*&,&>+q S3 1%+D4&+ &,@+01&($1F O&+>$%+ *.>$*&G$%+ I& 1&= )+ )4%+%+ %+*$1$1 )+ =$>&+,1q b3 1%+D4&+ >4,.0>41F +f1&,)+%+$ %+$*F $ D.*&& Q>$,>+%.$0F 0$4 ,+>$,>+%.$0FRq Z3 1%+D4&+ +@$*4$E& O$>1.%&& >+ &,O*4+,E+$GF =+%>+=E&$ )4%+%&&d =0&]&>&N 0.>&.' >4*14%$*&N 0=&%&14$*&q _3 =+%&.)&>N )4%+%+$ 1%+D4&+ %++@$*4$1F3 :,&E&$*N H+)&>4* 1%+D4&+ 0F %+$*&G+G+ . $,$H,+GF $*(+G&.*.(&>F >$%+ =%+04=4,+ &)+,1&O&>$%+$ )$1+*.% 0+H,&O&>$1&@+d &01.%&>4* )4%+%&&N >$%$>1+%&01&>&*+ 0$*+ Q&,1+,0&1$1+N >$*&1$1+N &,>&)+,EFRN B, H.H+,1+*+ &,&E&$*+ I& B, H.H+,14* @&G&1+*.% 4*1+%&.$%+N O$>1.%&& $(%$@$,E&N .%$%4* )4%+%&& I& *&H&1F%&*+ O4,>E&.,$*+ )+%&@$1+q @$ 1%+D4& H+,E&.,$1F O&+>$%+ 1+%$=&+ $,1$*(&>F
?SS
4%H$1FN B,>+%>A,) 0F 0+ =%+>&G+G+ >$4G$ K*&=0+& )+ 04>>+0M Q)$1.%&1F +O+>1+*.% 0+>4,)$%+ 0$4 $>E&4,&& $,1$*(&>+ ,+>.%+0=4,GF1.$%+R3 :,@+01&($E&$ )4%+%&& B,>+=+ =%&, +@$*4$%+$ &,1+,0&1FE&& $>+01+&$3 <, @.*4H >%+0>41 )+ >+%>+1F%& 0'$ >.,>+,1%$1 B, 41&*&G$%+$ 4,.% )&@+%0+ 0>$*+ )+ HF04%F $ &,1+,0&1FE&& )4%+%&&3 2*&,&>&+,&& $4 O.01 B,>4%$k$E& 0F 41&*&G+G+ )&@+%0+ 0>$*+N =%&, >$%+ =$>&+,E&& 04,1 &,@&1$E& 0F'I& $=%+>&+G+ 0&,(4%& )4%+%+$ =.%,&,) )+ *$ @$*.$%+$ Y QOF%F )4%+%+R =A,F *$ "Y Q)4%+%+$ >+$ H$& &,1+,0FR3 <1&*&G$%+$ #),1"1/% *" ,$%")("%" , *+%"%(( Qf'8+2& N"2&%A I/2&( l4(]'l40j&00., e g8PN 0>$*$ ,4H+%&>F 0&H=*FN 0>$*$ @+%D$*FN 0>$*$ )+0>%&=1&@FN 0>$*$ =&>14%$*FN 0>$*$ 01$1404*4& )+ =+%O.%H$,EF •$%,.O0j}R O$>&*&1+$GF >.H4,&>$%+$ (%$)4*4& )+ )4%+%+ I& $ H.)&O&>F%&*.% $>+01+&$ B, 1&H= Q#4,(&4N ?YY?R3 8*F14%& )+ &,1+,0&1$1+$ )4%+%&& 0+ @$ &,0&01$ $04=%$ 8(1'+&+' )+ $=$%&E&+N $ /%"1'6''&%* 1( 1'8,2*'6'( $ )4%+%&&N $ /2*2/)(*'8)'/'&%* )(9,%*2&( Q>.,1&,4&1$1+N >$%$>1+%+N %&1H )&4%,R3 P+ @$ =%+>&G$ &H=$>14* )4%+%&& $04=%$ >$*&1FE&& @&+E&& Q&,)&>$1.%&d .%+*+ ,+>+0$%+ =+,1%4 ).%H&1N =.0&D&*&1$1+$ )+0OFI4%F%&& 4,.% $>1&@&1FE&N &,1+%O+%+,E$ )4%+%&& >4 $>1&@&1$1+$ =%.O+0&.,$*FN >4 .D&>+&4%&*+ I& $>1&@&1$1+$ 0.>&$*F3R 6O+>14* $,$*(+G&> $* 04D01$,E+*.% $)H&,&01%$1+ B, 1%$1$H+,14* )4%+%&& +01+ &,O*4+,E$1 )+ O$>1.%& H4*1&=*&N >+ &,>*4) $O&,&1$1+$ =+,1%4 0&1404* )+ *+($%+ $ %+>+=1.%&*.% 0=+>&O&>&N $>1&@&1$1+$ &,1%&,0+>F $ %+>+=1.%&*.%N O$%H$>.>&,+1&>$ I& O$%H$>.)&,$H&$ $(+,E&*.% O$%H$>.*.(&>& Qc]$,(N ?YYaR3 4C?* '>+'A/Y'' ;+I& .=&.&G&& 04,1 >4,.0>4E& =+,1%4 $>E&4,+$ *.% $,$*(+G&>FN O.*.0&%+$ *.% 0+ +f1&,)+ B, $O$%$ $>+01+& $%&&3 801O+*N +& =.1 O& O.*.0&E& B, 1%$1$H+,14*d (1(9+&+' ,+&9%"2* 2/+)3 C, >$G )+ )&0=,++N %+0=+>1&@ )&0O4,>E&+ )+ @+,1%&>4* 01A,(N •
•
•
•
1%$1$H+,14* +O&>&+,1 +01+ $)H&,&01%$%+$ &,1%$@+,.$0F )+ H.%O&,F3 #+>$,&0H4* )+ $>E&4,+ ,4 +01+ >*$%N )$% =%.D$D&* =%.)4>+ %+)4>+%+$ =+%>+=E&+& )+ 0>4%1$%+ $ %+0=&%$E&+&N $ $,f&+1FE&&N $ 1.,404*4& @+,.0 I& $ %+G&01+,E+& =+%&O+%&>+ QP1+&,N ?YYSq •$1G4,(N ?YYaR )+8('3 C, 1%$1$H+,14* 140+& 0+ O.*.0+0> ).G+ %+)40+ )+ .=&.&G&N ,+1 &,O+%&.$%+ >+*.% >+ )+1+%H&,F $,$*(+G&$3 C, 4*1&H$ =+%&.$)FN O.*.0&%+$ *.% $ )&H&,4$1 0+H,&O&>$1&@N )+.$%+>+ $4 O.01 >%+$E& =%.)4I& 0&,1+1&>& $ >F%.% $>E&4,+ +01+ *$ O+* )+ =.1+,1F I& ,4 =%+G&,1F $>E&4,+ $,$*(+G&>F 0$4 $)&>1&@F Q•$1G4,(N ?YYaR 1'2*(('3 ;&$%++$ =.$1+ O& >.,1%.*$1F =%&, 1%$1$H+,14* >4 .=&.&G&N )$% B, >$G )+ 04=%$&,O+>1$%+ D$>1+%&$,F +01+ ,+>+0$%F I& &,1+%@+,E&$ $,1&D&.1&>+*.%3 C, 1%+>41 0+ O.*.0+$ .=&4* B, 01$%+ =4%F =+,1%4 1%$1$%+$ )&$%++&N H.H+,1$, 0+ O.*.0+0> )+%&@$E& 0&,1+1&>&N >$%+ $4 H$& =4E&,+ +O+>1+ >+,1%$*+N &$% +O+>1+*+ *.% =%&,>&=$*+ 04,1 >+*+ ($01%.'&,1+01&,$*+ Q#4,(&4N ?YY?R3 21j+72") 2"(8)(4'( =+,1%4 D,*((9,)'7( 2"2&A(8'2E3 /=&.&G&& 04,1O%&>&& O.*.0&E& B,$&,1+ )+ &,1+%@+,E&$5">]&%4%(&>$*F )&H&,4$%+$ )4%+%&& 0$4 0>F)+%+$ 0$4 =.1 O& O.*.0&E& >$ $)k4@$,E& B, 0.*4E&$ $,+01+G&>F3 5%+D4&+ H.,&1.%&G$1F B,)+$=%.$=+ %+0=&%$E&$ )$1.%&1F +O+>14*4& )+=%&H$,1 *$ ,&@+*4* $=$%$14*4& %+0=&%$1.%3 9%&, &,k+>1$%+$ .=&.&G&*.% B, 0=$E&4* +=&)4%$* 0$4 04D$%$],.&)&$, $* HF)4@+& 0=&,F%&& 0+ .DE&,+ $,$*(+G&$ =+,1%4 . =+%&.$)F *4,(F )+ 1&H=3 8,$*(+G&$ =.$1+ O& H+,E&,41F =%&, &,O4G&$ *+,1F >4 $k41.%4*4&
?Sb
4,4& >$1+1+% =*$0$1 B, 0=$E&4* +=&)4%$*3 T4 )+1+%H&,F H.)&O&>F%& $*+ O4,>E&+& 0+,G.%&$*+N H.1.%&& 0$4 $41.,.H+3 5%+D4&+ H.,&1.%&G$1F %+0=&%$E&$N &$% B, >$G )+ )+=%+0&+ 0+ $)H&,&01%+$GF %$=&) ,$*.f., Q8j>$N ?YY?R3 h# 0"*A?*C* A*>?&/C* /C* )G')'Q'C)& "3"3 8,$*(+G&$ V 0+ H$,&O+01F $04=%$ $HD+*.% >.H=.,+,1+d 0+,G.%&$*+ I& $O+>1&@+ Q+H.E&.,$*+R3 8,$*(+G&$ %+$*&G$1F )+ .=&.&G& +01+ >.,0&)+%$1F 4,&>F $1A1 =%&, B,*F14%$%+$ )4%+%&& O&G&>+ >A1 I& =%&, 01$%+$ )+ D&,+ =+ >$%+ . H$,&O+01F *$ ,&@+*4* 0&01+H4*4& ,+%@.03 P+ >.,0&)+%F >F +O+>14* =0&]&> ).H&,F B, $>E&4,+$ )%.(4*4& Q•$1G4,(N ?YYaR3 ;4%+%&*+ 0+@+%+ I& =+%0&01+,1+N >4H 04,1 >+*+ )&, >$,>+% 0$4 $*1+ D.*& B, 01$)&4* O&,$* ,+>+0&1F 4, 1%$1$H+,1 $(%+0&@ I& H4*1&)&0>&=*&,$%N >4 O.*.0&%+$ $,$*(+G&>+*.% .=&.&)+N >4 $>1&@&1$1+ &,1%&,0+>F %&)&>$1F3 8>+01 1%$1$H+,1 ,+>+0&1F . $)H&,&01%$%+ >.,1&,4F $ .=&.&G&*.%N >$%+ @$ )+1+%H&,$ 1.*+%$,EF I& H$& =4E&, )+=+,)+,EF =0&]&>F3 5.14I& $>+01+ +O+>1+ ,+).%&1+ ,4 %+=%+G&,1F . D$%&+%F B, O.*.0&%+$ *.% I& B, ).%&,E$ )+ $ .O+%& . H$& D4,F >$*&1$1+ $ @&+E&& =$>&+,14*4& QP1$H+%N ?YYaR3 :,)&O+%+,1 )+ .=&.&)4* O.*.0&1N *$ B,*F14%$%+$ $>+014&$ $=$%+ 0&,)%.H4* )+ $D01&,+,EF3 J+,.H+,4* =.$1+ O& )&O+%&1 )&, =4,>1 )+ @+)+%+ $* &,1+,0&1FE&& I& )4%$1+& B, O4,>E&+ )+ =%+=$%$14* O.*.0&13 Q7&>j$%) 23N ?YYaq x%.,$N ?YYaR3 "3?35.*+%$,E$ ' B,>+=+ >4 =%&H$ ).GF I& 0+ H$,&O+01F >*&,&> $D&$ )4=F ?'S 0F=1FHA,& )+ +f=4,+%+ O%+>@+,1F 0$4 1%$1$H+,1 G&*,&>3 5.*+%$,E$ 0+ )+G@.*1F H$& %+=+)+ B, >$G4* $)H&,&01%F%&& )+ ).G+ %&)&>$1+ *$ &,1+%@$*+ 0>4%1+ )+ 1&H= I& +01+ H&,&HF B, >$G4* )%.(4*4& $)H&,&01%$1 B, ).G+ H&>& I& *$ &,1+%@$*+ *4,(& )+ 1&H=3 C, >$G4%&*+ 0+@+%+N 1.*+%$,E$ =.$1+ >%+I1+ =A,F *$ SZ )+ .%&3 8>+$01$ )+1+%H&,F $,$*(+G&+N 0+)$%+ I& )+=%+0&+ %+0=&%$1.%&+3 ;+=%+0&$ %+0=&%$1.%&+ =.$1+ $=F%+$ *$ . =+%0.$,F ,.,1.*+%$,1F *$ _Y )+ H( H.%O&,FN B, 1&H= >+ $))&>E&$ H$f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aR3 7$1$ )+ $=$%&E&+ I& )&0=$%&E&+ $ 1.*+%$,E+&N >$ I& (%$)+*+ )+ 1.*+%$,EF )&O+%F B, H.) >.,0&)+%$D&* B, O4,>E&+ )+ $,$*(+G&>4* .=&.&) O.*.0&1 I& 1&H=4* )+ O.*.0&%+ $* $>+014&$3 #&f14%&*+ $(.,&01 e $,1$(.,&01 )&H&,4F +O+>1+*+ $)@+%0+ =%+>4H ]$*4>&,$E&$N 0+)$%+$N ]&=.1+%H&$ I& )+=%+0&$ %+0=&%$1.%&+3 601+ &H=.%1$,1 )+ ,.1$1 >F 1.*+%$,E$ ,4 0+ )+G@.*1F *$ $>E&4,&*+ $,1$(.,&I1&*.% )&, H&f14%& Ql$(]=$%$01 83N ?YYaR3 "3S3"3 ;+=+,)+,E$ O&G&>F e B,0.E+I1+ &,@$%&$D&* 1.*+%$,E$ I& 0+ )$1.%+$GF 01&H4*F%&& %+=+1$1+ $ %+>+=1.%&*.% .=&.&G& H&43 C,>+1$%+$ $)H&,&01%F%&& )%.(4*4& )+1+%H&,F 0&,)%.H4* )+ $D01&,+,EFN >$%+ %+=%+G&,1F +f$(+%$%+$ O+,.H+,4*4& )+ %+D.4,) $ +O+>1+*.% O$%H$>.*.(&>+ $ .=&.&G&*.%3 J.*.0&%+$ $,1$(.,&I1&*.% .=&.&G& *$ . =+%0.$,F )+=+,)+,1F )+ )%.(4%& O$>+ =.0&D&*F . 1%+>+%+ H$& 4I.$%F =+01+ =+%&.$)$ )+ $D01&,+,EF &,&E&$*F3 ;+=+,)+,E$ O&G&>F I& =0&]&>F +01+ H$& %+)40F B, >$G4* 41&*&GF%&& $,1$(.,&I1&*.%3
?SZ
P+H,+*+ I& 0&H=1.H+*+ 0&,)%.H4*4& )+ $D01&,+,[F 04,1 %&,.%++$N *$>%&H$%+$N =&*.+%+>E&$N ]&=+%@+,1&*$E&$N ]&=+%1+%H&$N H&)%&$G$N 0=$0H+ H40>4*$%+N @.H$N )&$%++$N $,f&+1$1+$N +1>3 T4HF%4* I& &,1+,0&1$1+$ 0+H,+*.% I& 0&H=1.H+*.% +01+ =%.=.%E&.,$*F >4 (%$)4* )+=+,)+,E+& O&G&>+ )+G@.*1$1+3 8)H&,&01%$%+$ B, =+%&.$)$ $D01&,+,E+& $ 4,4& .=&.&) )4>+ *$ B,*F14%$%+$ &H+)&$1F $ 1414%.% 0+H,+*.% I& 0&H=1.H+*.% =%+G+,1$1+ Q#4,(&4N ?YY?R3 #.H+,14* &,01$*F%&&N )4%$1$ I& &,1+,0&1$1+$ 0&,)%.H4*4& )+=&,) )+ )%.(4* 41&*&G$1 I& )+ 1&H=4* D&.*.(&> )+ B,k4HF1FE&%+3 "3S3?3 ;+=+,)+,E$ =0&]&>F ' +01+ H$,&O+01$1F =%&, +4O.%&+N &,)&O+%+,1 )+ 01&H4*& I& 0+)$%+N B, >$G4* $,$*(+G&>+*.% .=&.&)+N H$& =%+(,$,1F )4=F $)H&,&01%$%+ &,1%$@+,.$0F3 C, =*40N +f=+%&+,E$ =.$1+ O& >.H=$%$1F >4 4, .%($0H 0+f4$* &,1+,03 81A1 B, &,1+%@$*4* )+ 1&H= B, >$%+ 0+ $)H&,&01%+$GF 04D01$,E$ >A1 I& =.01 $)H&,&01%$%+ +01+ =%+G+,1F KO.$H+$ )+ )%.(MN >$%+ 0+ H$,&O+01F =%&,1%'. ).%&,EF +f1%+HF )+ $ =%.>4%$ )%.(4* I& $'* O.*.0&3 9$>&+,14* %+>4%(+ *$ .%&>+ H&k*.$>+ =+,1%4 $'I& $1&,(+ 0>.=4* I& B,*F14%F 1.$1+ D$%&+%&*+ >+ 01$4 B, >$*+$ %+4I&1+& 0$*+3 ;&, =F>$1+N &,1+%@$*4* )+ 1&H= )&,1%+ $)H&,&01%F%& 0>$)+ >4 O&+>$%+ ).GFN 04=4,A,)4'* *$ 4, ,.4 =%.>+0 )+ >F41$%+ $ )%.(4*4&3 2]&$% )4=F 1+%H&,$%+$ >4%+& )+ )+G&,1.f&>$%+N KO.$H+$ )+ )%.(M +01+ =%+G+,1F =+,1%4 . =+%&.$)F @$%&$D&*F )+ 1&H=3 8>+01$ +01+ H.1&@4* =%&,>&=$* =+,1%4 ,4H+%.$0+*+ %+>F)+%& B, 4%H$ 1%$1$H+,14*4&3 ;+ $>++$N 0+ %+>.H$,)F =0&].1+%$=&+N >$%+ BH=%+4,F >4 1%$1$H+,14* $HD4*$1.%&4 $k41F B,1%'. .$%+>$%+ HF04%FN *$ HF%&%+$ =%.>+,1$k4*4& =$>&+,E&*.% >$%+ $4 %+,4,E$1 *$ )%.(4%& Q#4,(&4N ?YY?R3 6O+>1+*+ $)@+%0+ 04,1 H4*1&=*+ I& =.1 O& (%4=$1+ B, O4,>E&+ )+ $>E&4,+$ %+>+=1.%&*.% .=&.&G& $04=%$ )&O+%&1+*.% $=$%$1+ I& 0&01+H+3 "3b3 P+)$%+$ e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}* Q•$1G4,(N ?YYaR3 -$ ).G+ $,$*(+G&>+ H.%O&,$ =+%14%D$ 76#e4*3 8>+01 +O+>1 =.$1+ O& .D0+%@$1 *$ H$k.%&1$1+$ .=&.&G&*.%3 ;+=%&H$%+$ PT2 )+ >F1%+ .=&.&G& +01+ H$& $>>+,14$1F *$ >.,04H$1.%&& >%.,&>& )+ $*>..* 0$4 )+ D+,G.)&$G+=&,+3 ;$>F )4%+%+$ 0+ >$*H+$GFN +01+ =.0&D&*F 0>F)+%+$ ).G+& >4 ?Z{N >++$ >+ )+1+%H&,F $D.*&%+$ 0+)F%&&3 P+)$%+$ =.$1+ O& >.HDF141F =%&, 0>F)+%+$ ,&@+*4*4& )+ .=&.&) =+ ).GF I& >%+I1+%+$ O%+>@+,E+& ).G+*.%3 8>+$01F H+1.)F )+ $)H&,&01%$%+ H+,E&,+ ).G$ 1.1$*F G&*,&>F =%&, )+0>%+I1+%+$ ,&@+*+*.% =*$0H$1&>+3 8*1+ H+1.)+ 04,1 0>]&HD$%+$ .=&.&)4*4& 0$4 &,1%.)4>+%+$ 4,+& H+)&>$E&& $)k4@$,1+ Q>.O+&,FN )+f1%.$HO+1$H&,FN H+1&*O+,&)$1R Q#&%.,N ?YY_R3 6O+>14* )+ 0+)$%+ .D0+%@$1 *$ .$H+,& ,4 $=$%+ *$ $*1+ 0=+>&& =%+>4H =&0&>&N >$&N @$>& 0$4 =.%>&N *$ $>+01+$ )&, 4%HF . +f>&1$%+N )+>& B, >.,1%$01 >4 0=+>&$ 4H$,F3 8>+01+ +O+>1+ 04,1 =$%E&$*H$,&O+01A,)4'0+ )+=+,+)+,1+ )+ >$ ).GF3 "3Z3 64O.%&$ V <1&*&G$1.%&& )+ H.%O&,F =+ >$*+ &,1%$@+,.$0F )+0>%&4 $>+$01F +f=+%&+,EF >$ . 0+,G$E&+ )+ =*41&%+N )+ *&D+%$1+N >4 B,*F14%$%+$ $,f&+1FE&& I& $ 01%+004*4&3 ;&, =F>$1+ $>+$01F 0+,G$E&+ +01+ B,*.>4&1F )+ )&0O.%&+N &H+)&$1 >+ )%.(4* I&'$ =&+%)41 +O+>14*3 8>+$01F 0+,G$E&+ ,+=*F>41F =.$1+ O& =%+G+,1F *$ 4,&& =$>&+,E& 0$4 *$ =+%0.$,+*+ 0F,F1.$0+ .)$1F >4
?S_
$)H&,&01%$%+$ )%.(4*4&3 ;&0O.%&$ +01+ >$%$>1+%&G$1F =%&,1%'. 01$%+ )+ %F4N )+ .D.0+$*F3 5.14I&N =%.>+,1$k4* >+*.% >+ =%+G&,1F )&0O.%&+ +01+ 0>FG41 Q•$1G4,(N ?YYaR3 "3_3 ;+=%+0&$ %+0=&%$1.%&+ e %+=%+G&,1FN =.1+,E&$*N >+$ H$& 0+%&.$0F >.H=*&>$E&+ $ .=&.&G&*.% =41+%,&>&3 /=&.&G&& $>E&.,+$GF )&%+>1 $04=%$ >+,1%4*4& %+0=&%$1.%N =%.)4>A,) . )+=%+0&+ )+=+,)+,1F )+ ).GFN =A,F *$ $=,++q 9%+0&4H+$ 2/? =.$1+ >%+I1+N )$% )+=%+0&$ +01+ )$1F )+ 0>F)+%+$ %F0=4,04*4& *$ H.)&O&>F%&*+ =%+0&4,&& 2/?3 / 0>F)+%+ H&>F 0$4 H.)+%$1F $ O4,>E&+& %+0=&%$1.%&&N >$ 4%H$%+ $ >%+I1+%&& =%+0&4,&& 2/ ? =.$1+ O& D&,+ 1.*+%$1F )+ 4, =$>&+,1 OF%F H.)&O&>F%& $,1+%&.$%+ $*+ O4,>E&+& =4*H.,$%+3 9$>&+,E&& >4 =%+0&4,+ &,1%$>%$,&$,F >%+0>41FN $01H$1&>&&N D.*,$@&& >4 `9/2 0$4 >.%) =4*H.,$% ,4 =.1 1.*+%$ $01O+* )+ H.)&O&>F%& =%+0&.,$*+3 ;+=%+0&$ %+0=&%$1.%&+ I& %+1+,E&$ )+ 2/ ? 04,1 $0.>&$1+ >4 @$0.)&*$1$E&+ >+%+D%$*F I& >%+I1+%+$ =%+0&4,&& -27'4*4&3 ;+>+04* >+*.% >$%+ =%&H+0> . 04=%$).GF )+ H.%O&,F +01+ B,1.1)+$4,$ )+1+%H&,$1 )+ D*.>$%+$ %+0=&%$1.%&+3 5.14I&N B, =%$>1&>$ >*&,&>FN $>+01 +O+>1 +01+ O.$%1+ %$% I& .=&.&G&& ,4 1%+D4&+ >.,1%$&,)&>$E& )&, $>+01 H.1&@N H$& $*+0 *$ =$>&+,E&& B, 01$)&4* 1+%H&,$* QL4*4%N ?YYaR3 -$ ).G+ +>]&$,$*(+G&>+ 1.E& )+%&@$E&& )+ H.%O&,F )+1+%H&,F 4, (%$) +>]&@$*+,1 )+ )+=%+0&+ %+0=&%$1.%&+3 ;&, $>+01+ H.1&@+N =$>&+,E&& >4 $O+>E&4,& %+0=&%$1.%&&N B, =%&H4* %A,) >4 $01H D%.,I&>N 04,1 =%+)&0=4I& *$ =%.D*+H+ %+0=&%$1.%&& )4=F $)H&,&01%$%+$ )+ .=&.&G& $,$*(+G&>&3 601+ ,+>+0$%F . H.,&1.%&G$%+ $1+,1FN 0>F)+%+$ ).G+*.% $)H&,&01%$1+ 0$4 H.)&O&>$%+$ H+)&>$E&+& Qg+**$'`%&>$1N ?YYa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f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f&+1FE&&3 ;$1.%&1F $>+01.% $>E&4,&N H.%O&,$ ,4 +01+ O.*.0&1F B, 1%$1$%+$ )4%+%&& )&, &0>]+H&$ H&.>$%)&>FN >.H=*&>$1F >4 +)+H =4*H.,$%3 "3a3 :,]&D$%+$ >+,1%4*4& 140+& V P4=%+0&$ %+O*+f4*4& 140+& +01+ . $>E&4,+ D&,+ >4,.0>41F $ .=&.&G&*.%3 2.)+&,$ +01+ 4, =%.)40 O.*.0&1 B, $>+01 0>.= *$ =$>&+,E&& >4 $O+>E&4,& =4*H.,$%+N >$%+ ,+>+0&1F H+,E&,+%+$ @+,1&*$E&+&3 8>E&4,+$ )+ H+,E&,+%+ $ >F&*.% $+%&+,+ )+0>]&0+ =.$1+ O& >.H=$%$1F &,14D$%+$)+ +,).1%$]+$*F3 ;+G$@$,1$k4* O.*.0&%&& .=&.&G&*.% =+,1%4 $>+$01F $>1&@&1$1+ +01+ >4 $>4H4*$%+$ 0+>%+E&& >$%+ )+1+%H&,F B, O&,$* .D01%4>E&$ >F&*.% %+0=&%$1.%&& I& $1+*+>1$G&+ Q•$1G4,(N ?YYaN g+**$'`%&>$1N ?YYaR3 "3\3 2.,O4G&$ I& )+*&%4* e .)$1F >4 B,>+=+%+$ 1%$1$H+,14*4& >4 .=&.&G& 0$4 *$ >%+I1+%+$ ).G+*.% =.1 $=$%+ 01F%& >.,O4G&.,$*+ I& >]&$% )+*&%N >$%+ 0+ =.1 %+H&1+ B, >4%0 )+ >A1+@$ G&*+3 2.,O4G&$ =+%0&01+,1F $1%&D4&1F .=&.&G&*.% +01+ %$%F3 -$ =$>&+,E&& >+ =%+G&,1F )+k$ >.,O4G&+ I& )+*&%N .=&.&G&& =.1 >.,1%&D4& *$ $(%$@$%+$ $>+01.% 01F%&3 C, $0+H+,+$ >$G4%&N ).G+*+
?Sa
)+ .=&.&G& =.1 O& %+)40+ )$>F $,$*(+G&$ +01+ $)+>@$1F 0$4 0+ %+>4%(+ *$ $)H&,&01%$%+$ $*1.% .=&.&G& Q#&%.,N ?YY_R3 "3X3 l$*4>&,$E&&*+ e 04,1 %+*$1&@ ,+.D&I,4&1+N )$% =.1 $=$%+ B, H.) =$%1&>4*$% *$ @A%01,&>& Q#&%.,N ?YY_R3 "3"Y3 L%+$E$ I& @F%0F14%&*+ e =.1 $=$%+ *$ ZY{ )&, =$>&+,E&& >+ 04,1 1%$1$E& >4 H.%O&,F .%$*F3 8>+01+ +O+>1+ 0+>4,)$%+ =.1 O& @$%&$D&*+ B, &,1+,0&1$1+ I& 04,1 4I.% )+ >.,1%.*$1 >4 $,1&+H+1&>+N )+I& 4,+*+ =.1 O& 0+@+%+N )+1+%H&,A,) %+,4,E$%+$ *$ .=&.&G&3 L%+E4%&*+ I& @F%0F14%&*+ )&0=$% )+ .D&>+& )4=F >A1+@$ G&*+ )+ *$ $)H&,&01%$%+$ .=&.&)4*4&3 5$D+* "3 #+)&>$E&$ $,1&+H+1&>F B, 1%$1$H+,14* (%+E4%&*.%r@F%0F14%&*.% &,)40+ )+ .=&.&G& Qm$D$N /323#4,(&4N ?YYaR L1,#>
M"*(),4"0.
T+4%.*+=1&>+ K("%)'24'"(
9%.>*.%=+%$G&,$ 2*.%=%.H$G&,$ l$*.=+%&).* P>.=.*$H&,$ 9%.H+1$G&,$ #+>*&G&,$ ;&O+,]&)%$H&,$ ;&H+,]&)%&,$1 l&)%.f&G&, 5%&H+1.D+,G$H&)$ #+1.>*.=%$H&)
Z+)'*%=("%"( 8,1&>.*&,+%(&>+ 8,1&]&01$H&,&>+
9%.j&,+1&>+ 2$,$D&,.&G& 8,1$(.,&I1& 0+%.1.,&,+%(&> & $,1&'Zl5S
;%.,$D&,.* /,)$0+1%., L%$,&0+1%., ;.*$0+1%.,
#.%O&,$ )+1+%H&,F . $>E&4,+ )&%+>1F $04=%$ 4,+& G.,+ >]+H.%+>+=1.$%+ NN1%&((+%M =+,1%4 @F%0F14%&N >$ I& . $>E&4,+ &,)&%+>1F $04=%$ 1%$>14*4& ($01%.'&,1+01&,$* Q01$GF ($01%&>FN )+0>%+I1+%+$ H.1&*&1FE&&N >.,01&=$E&+R3 9.$1+ >%+I1+ 0+,0&D&*&1$1+$ $=$%$14*4& @+01&D4*$%N >%+A,) =.0&D&*&1$1+$ )+ $ &,)4>+ @.HF *$ H&I>F%& =%&, >.H=.,+,1$ 0$ @+01&D4*$%F Q•$1G4,(N ?YYaq g+**$'`%&>$1N ?YYa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c]$,(N ?YYaR3
?S\
8D.%)$%+$ 1%$1$H+,14*4& 0+ O$>+ B, 1%+=1+d "3 ;$>F $,$*(+G&$ +01+ +O&>&+,1FN 0+ =.$1+ *4$ B, >.,0&)+%$%+ 0>F)+%+$ ).G+& )+ .=&.&) 0$4 %.1$E&$ .=&.&G&*.% ?3 5%$1$H+,1 O$%H$>.*.(&>d ).G+ H&>& )+ D+,G.)&$G+=&,+ Q+f3 >*.,$G+=$H YNZH( =.r_'\]R 0$4 $*1 H&.%+*$f$,1 >+,1%$* QD$>*.O+, ZH(R3Qm$D$N #4,(&4N ?YYaR "3"?3 -$ ,&@+* .>4*$% +01+ =%+G+,1F 6')Q/ e >$%+ =.$1+ O& 0+H,4* 4,+& 04=%$).G+ )+ .=&.&G&q 2.,01%&>E&$ =4=&*+& =.$1+ O& .D0+%@$1F )4=F O.*.0&%+$ $(.,&I1&*.% .=&.&G&3 #&.G$ +01+ 4, >%&1+%&4 )+ )+D41 $* )+G@.*1F%&& 1.*+%$,E+&3 9.$1+ O& >.HDF141F >4 $,1$(.,&I1& .=&.&G& I& D*.>$1F )+ $1%.=&,F Q•$1G4,(N ?YYaR3 l#
0"*A?* G*&'"*&'A* /C* )G')'Q'C)& /=&.&G&& H$,&O+01F I& +O+>1+ =+%&O+%&>+N $>+01+$ O&&,) =%+G+,1+ )$1.%&1F %+>+=1.%&*.% *.>$*&G$E& B, 01%4>14%&*+ >.%+0=4,GF1.$%+ QP1+&,N ?YY"R l#h# <&@&'?@C g =.$1+ O& >.,0&)+%$1 4, +O+>1 0+>4,)$% H$& O%+>@+,1 )4=F $)H&,&01%$%+$ +=&)4%$*F I& 0=&,$*F3 601+ O%+>@+,1 *.>$*&G$1 =+ O$EF I& H$& $*+0 =+ ,$0N )+D41A,) =%&, B,%.I&%+$ 1+(4H+,14*4&N >F*)4%F *.>$*FN 4,+.%& I& 1%$,0=&%$E&+3 6O+>14* 0+ )$1.%+$GF $>E&4,&& =+ 0&01+H4* ,+%@.0 >+,1%$* I& +*&D+%F%&& =+%&O+%&>+ )+ ]&01$H&,F3 ;+I& ,4 +01+ . =%.D*+HF H+)&>$*F 0+%&.$0FN =%4%&14* +01+ ,+=*F>41 B, >.,1+f14* 4,+& 04O+%&,E+ H$& >.H=*+f+3 5%$1$H+,14* >4 $,1&]&01$H&,&>+ =.$1+ O& 41&* Q#&%.,N ?YY_R3 l#l# 0C'K*&/&*/ +* D'.?/H'>F i A/ &*/AY'* /C*&('AF C/ H)&"'>F ./@ C/ /CY' )G')'Q' G@?*&>'A' 6*&D+%$%+$ )+ ]&01$H&,F =.$1+ >.,1%&D4& *$ $=$%&E&$ $01H4*4& I& 4%1&>$%&+&N *$ =$>&+,E&& $*+%(&>&3 l&01$H&,$ =.$1+ )+1+%H&,$ $0=+>14* )+ K.>]& %.I&&MN %.I+$E$ O+E+& 0$4 O*$0] >41$,$13 7+$>E&&*+ $*+%(&>+ 04%@&, %$%+.%& )4=F $)H&,&01%$%+$ )+ .=&.&G&3 5.14I&N O%+>@+,1 04,1 )+0>%&I& =$>&+,E& K$*+%(&>&M *$ .=&.&)+3 8>+01 O$=1 %+G4*1F >$ 4, )+O&>&1 )+ &,1+%=%+1$%+ Q)+ >F1%+ =$>&+,1 0$4 1+%$=+41R $ 0&H=1.H+*+ 0+>4,)$%+ O%+>@+,1+ *$ .=&.&G& =%+>4H (%+$E$N @F%0F14%&*+ 0$4 1%$,0=&%$E&&*+3 ;+014* )+ O%+>@+,1N 4,&& =$>&+,E& %+,4,EF *$ 1%$1$H+,14* >4 H.%O&,FN )$1.%&1F $>+01.% +O+>1+3 :, H$k.%&1$1+$ >$G4%&*.% )&0>4E&$ >4 =$>&+,14* +01+ 04O&>&+,1F =+,1%4 $ >*$%&O&>$ $>+01 04D&+>1 Q#&%.,N ?YY_q c]$,(N ?YYaR3 l#e# 9)>.?'G/Y'/ e +01+ >+* H$& O%+>@+,1 +O+>1 0+>4,)$% $* .=&.&G&*.%N $>+I1&$ $>E&.,A,) $04=%$ 0&01+H4*4& ,+%@.0 +,1+%&>3 8>E&4,+$ *.% 0+ )$1.%+$GF 04HF%&& &,1+%@+,E&+& H$& H4*1.% H+>$,&0H+N *$ )&O+%&1+ ,&@+*+ $*+ 1%$>14*4& ($01%.&,1+01&,$*N =%+>4H 0>F)+%+$ 0+>%+E&+& ($01%.' &,1+01&,$*+ Q$>&) >*.%]&)%&>RN 0>F)+%+$ =+%&01$*1&0H4*4& I& >.,1%$>E&$ 0=$01&>F $ H40>4*$14%&& ,+1+)+ I& $ 0O&,>1+%+*.% Q>.,0+>&,E$ +f$(+%F%&& %+O*+f+*.% 0=&,$*+RN O$=1 >$%+ )4>+ *$ &,01$*$%+$ 4,+& >.,01&=$E&& 0=$01&>+ B, >$G4* O.*.0&%&& =+,1%4 H$& H4*1 1&H= $ )+%&@$E&*.% .=&.&G&3 7+>+=1.%&& .=&.&G& +f&01F I& *$ ,&@+*4* 1%$>14*4& ($01%.'&,1+01&,$* B, >.,>+,1%$E&& 0+H,&O&>$1&@+N &$% +O+>1+*+ )+ >.,01&=$E&+ *$ .=&.&G& 04,1 H+)&$1+ $1A1 =%&,1%'. $>E&4,+ *$ ,&@+*4* 0&01+H4*4& ,+%@.0 +,1+%&> >A1 I& =%&,1%'. $>E&4,+ *$ ,&@+*4* 0&01+H4*4& ,+%@.0 >+,1%$*3 ;+ +f+H=*4N *$ ,&@+*4* 01.H$>4*4& =.$1+ $=F%+$ 0>F)+%+$ H.1&*&1FE&& Q>.,1%$>E&&*.% %&1H&>+ I& %+*$fF%&&R I& >%+I1+%+$ 1.,404*4& Q>.,1%$>E&& =+%0&01+,1+R =.%E&4,&& >+,1%$*+ $ 01.H$>4*4&3 5.,404* &,1+01&,4*4& 04DE&%+ +01+ >%+0>41N >4 0=$0H+ =+%&.)&>+N )$% $H=*&14)&,+$ >.,1%$>E&&*.% ,.,=%.=4*0&@+ +01+ 0>FG41F H$%>$1 Q5$%EF4N ?YYbR3
?SX
C, &,1+01&,4* (%.0N 4,)+*+ =+%&01$*1&>+ 04,1 )&H&,4$1+N &$% 1.,404* +01+ >%+0>413 8D0.%DE&$ $=+& +01+ >%+0>41FN H.1&@ >$%+ O$@.%&G+$GF $=$%&E&$ >.,01&=$E&+&3 9+ D$G$ $>+014& +O+>1N B, )&$%++ 0+ 41&*&G+$GF )+%&@$E& .=&.&G& Qg$%(]+0+N ?YY?R3 2.,01&=$E&$ +01+ H$& 0+@+%F *$ @A%01,&>& I& *$ >+& >4 )&+1+ 0F%$>+ B, O&D%+ @+(+1$*+3 ;+.$%+>+ >.,01&=$E&$ +01+ =%+@&G&D&*FN O&&,) =%+G+,1F *$ 1.E& =$>&+,E&&N 0+ @.% $)H&,&01%$ =%.O&*$>1&> *$f$1&@+ *$ >+& >+ =%&H+0> . 1+%$=&+ =+ 1+%H+, *4,(3 P+ =.1 41&*&G$d *4D%&O&$,1+ 0&H=*+ Q=$%$O&,F *&>]&)F ' &,1+%O+%F >4 $D0.%DE&$ @&1$H&,+*.% *&=.0.*4D&*+RN 01&H4*$%+$ >]&H&>F Q0+,,$N `&0$>.)}* I& J+,.*O1$*+&,F ' $>E&4,+ &,01$*$1F B, ?'\ .%+RN $(+,E&& .0H.1&>& Q>%+0> %+1+,E&$ )+ $=F B, &,1+01&, I& @.*4H4* H$1+%&&*.% O+>$*+ )&, >.*.,q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j&,+1&>& =%+>4H #+1.>*.=%$H&) I& 2&0$=%&) =.1 O& )+ $k41.%3 8>+I1&$ 04,1 >.,1%$&,)&>$E& )4=F >]&%4%(&$ ($01%.&,1+01&,$*F Q5$%EF4N ?YYbR3 C, >.,>*4G&+N >.,01&=$E&$ =.$1+ O& >.,1%.*$1F =%&, )&+1F3 5%$1$H+,14* H+)&>$H+,1.0 0+ @$ O$>+ B, (+,+%$* >4 *$f$1&@+ .0H.1&>+ I& 01&H4*+,1+N %+>4%(A,) *$ >*&0HF ).$% B, >$G4%&*+ )+ >.,01&=$E&+ %+D+*F3 C, >$G4%&*+ O.$%1+ %+G&01+,1+ 0+ %+>.H$,)F T$*.f., =3.3Q#&%.,N ?YY_R l#m# 1.AFA'@>*/ (@&'' k ,4 +01+ B,1.1)+$4,$ %+>4,.0>41F >$ +O+>1 0+>4,)$%N )+I& 0+ =.$1+ B,1A*,& B, _Y{ )&, >$G4%&3 9.$1+ O& 1%$1$1F =%&, >.,04H4* )+ $*&H+,1+ >4 >.,E&,41 *&>]&)&$, >%+0>413 P4,1 &,)&>$1+ 0=F*F14%&*+ D4>$*+N )$% OF%F 0.*4E&& >$%+ >.,E&, $*>..* Q•$1G4,(N ?YYaR3 l#n# !G/.H@C ?&/A?@C@' K'C'/& V >$%+ $=$%+ B, 4%H$ $)H&,&01%F%&& .=&.&G&*.% =.$1+ )+1+%H&,$ >.*&>$ D&*&$%F3 PO&,>1+%4* /))& =.$1+ O& >.,1%$>1$1N %+G4*1$14* O&&,) %+O*4f4* D&*+& I& 0+>%+E&+& =$,>%+$1&>+N >4 ,&@+* >%+0>41 $* $H&*$G+& I& *&=$G+& Q•$1G4,(N ?YYaR3 l#f# 0"*A?* /.@G&/ /G/&/?@C@' &*>/C /=&.&G&& BI& H$,&O+01F $>E&4,+$ I& $04=%$ $=$%$14*4& %+,$*3 P+ >.,0&)+%F >F H.)&O&>F%&*+ $=F%41+ 0+ )$1.%+$GF 0>F)+%&& @.*4H4*4& )+ =*$0HF >$%+ =+%O4G+$GF %&,&>]&&3 /=&.&G&& =%.)4> 0>F)+%+$ =%+0&4,&& 0$,(4&,+ I& $ %$1+& O&*1%$14*4& (*.H+%4*$%3 C, =*40N 0'$ )+H.,01%$1 >F .=&.&G&& $4 +O+>1 $,1&)&4%+1&>N =%.D$D&* =%&, &,O*4+,E$ $04=%$ +*&D+%F%&& 8;l'4*4& Q$>+01 +O+>1 +01+ >.,1%.@+%0$1R3 5.,404* 4%+1+%+*.% +01+ >%+0>41N &,>*40&@ *$ ).G+ 1+%$=+41&>+N H$& $*+0 =.01.=+%$1.% Q6,,&0 #3N ?YYbR3 l#f#h# 2*?*>Y'/ /A@?F +* @&'>F e 0+ =.$1+ )$1.%$ $1A1 &H=*&>F%&& 0&01+H4*4& ,+%@.0 >+,1%$*N >A1 I& 0&1404%&*.% =+%&O+%&>+3 9%.>+,14* O&+>F%+&$ ,4 +01+ D&,+ 01$D&*&13 /=&.&G&& =.1 >%+I1+ 1.,404* 0O&,>1+%4*4& @+G&>$* QH$& O%+>@+,1 *$ =$>&+,E&& @A%01,&>&R3 P.,)$%+$ @+G&>$*F =.$1+ O& ,+>+0$%F =+,1%4 $ 1%$1$ $>+$01F =%.D*+HF 1%$,G&1.%&+ Q•$1G4,(N ?YYaR3 l#x# 6')AC)>@.@C H@C?'")A/C 8>E&4,+$ .=&.&G&*.% 0+ =.$1+ >.,01$1$ I& *$ ,&@+*4* .'.?*H@C@' [email protected]@C)i.AD*C*?/CC 801O+*N H&.>*.,404* +01+ >.,0&)+%$1 4, 0+H, )+ 1.f&>&1$1+ Q)$1.%$1F $>4H4*F%&& )+ ,.%$)%+,$*&,FR I& =.$1+ &,)&>$ ,+>+0&1$1+$ )+ %+)4>+%+ $ ).G+*.%3 P&H=1.H+*+ 04,1 H4*1 H$& =%.,4,E$1+ )4=F $)H&,&01%$%+$ 4,.% ).G+ %+=+1$1+ )+ =+1&)&,F =+ >$*+ =$%+,1+%$*F3 #&.>*.,404* =.$1+ O& 1%$1$1 >4 D+,G.)&$G+=&,+N >+* H$& O%+>@+,1 >*.,$G+=$H3 C, $D0+,E$
?bY
%+H&0&4,&& 0&H=1.H+*.% >*&,&>+N *$ 4, ,4HF% H&> )+ =$>&+,E& 0+ @$ 1%+>+ *$ 41&*&G$%+$ $*14& .=&.&) Q#&%.,N ?YY_R3 #$& =4E&, H+,E&.,$1+ 04,1 1%+H4%F14%&*+N 0+>40+*+ H40>4*$%+N 1%$,0=&%$E&&*+ I& 0>F)+%+$ *&D&).4*4&3 l#y# 0"*A?*C* )G')'Q'C)& /.@G&/ /G/&/?@C@' A/&+')I/.A@C/& #4*1+ .=&.&)+ ,4 $4 +O+>1+ 0+H,&O&>$1&@+ )&%+>1+ $04=%$ A)&+@C@' 0$4 %&1H4*4& >$%)&$>N >4 +f>+=E&$ D%$)&>$%)&+&3 #+=+%&)&,$ +01+ . +f>+=E&+ )+.$%+>+ $>E&4,+$ $,1&H40>$%&,&>F =+ >$%+ . )+G@.*1F )+1+%H&,F 1$]&>$%)&+3 9%+0&4,+$ 0$,(4&,F +01+ )+ .D&>+& H+,E&,41F *$ =+%0.$,+*+ >.,04H$1.$%+ )+ )%.(4%& .=&.&)+N B, >&4)$ 01%+004*4& =%+G+,1 *$ ,&@+*4* 0&01+H4*4& >$%)&.@$0>4*$%3 l#y#h# ['G)?*>.'@>*/ G).?@&/CF k +01+ 4, +O+>1 0+>4,)$% %$%3 #.%O&,$ I& .=&.&G&& 0&H&*$%& $>E&.,+$GF $04=%$ >+,1%4*4& @$0.H.1.% &,)4>A,) 4, %F0=4,0 O&G&.*.(&> =%+0.%N >$%+ $0.>&$1 >4 @$0.)&*$1$E&$ =+%&O+%&>F $%1+%&$*F I& @+,.$0F 0+ >.,>%+1&G+$GF B, $=$%&E&$ ]&=.1+,0&4,&& =.014%$*+3 -$ $=$%&E&$ ]&=.1+,0&4,&& >.,1%&D4&+ I& +*&D+%$%+$ )+ ]&01$H&,F Q#4,(&4N ?YY?q #&%.,N ?YY_R3 6*+>1%.>$%)&.(%$H$ +01+ ,.%H$*FN *$ O+* I& >+*+*$*1+ &,@+01&($E&& *$ ,&@+*4* >.%)4*4&3 5.14I& 1%+D4&+ 04=%$@+(]+$E& =$>&+,E&& $ >F%.% @.*4H 0$,(4&, 0>$)+N B,1%4>A1 $>+I1&$ 04,1 040>+=1&D&*& )+ $ )+G@.*1$ ]&=.1+,0&4,+ Q•$1G4,(N ?YYaR3 6O+>14* $,$*(+G&>+*.% .=&.&)+ $04=%$ >&%>4*$E&+& >+%+D%$*+ +01+ H&,&HN +f>+=1A,) H.H+,1+*+ >A,) =%+0&4,+$ 2/? +01+ >%+0>41F >$ . >.,0+>&,EF $ )+=%+0&+& %+0=&%$1.%&&3 9%+0&4,+$ >%+0>41F )+1+%H&,F @$0.)&*$1$E&+ >+%+D%$*FN >4 0>F)+%+$ %+G&01+,E+& @$0>4*$%+ >+%+D%$*+N >%+I1+%+$ O*4f4*4& 0$,(4&, >+%+D%$* I& $ =%+0&4,&& &,1%$>%$,&+,+ Qg+**$'`%&>$1N ?YYaR3 l#q# 0"*A?*C* )G')'Q'C)& /.@G&/ .'.?*H@C@' (*>'?/C .=&.&G&*.% 0+ )+ =.$1+ .D0+%@$ I& *$>*$%N ,&@+*4* (*>'?/CNI&H$& >.,>%+1$*+ *$ ,&@+*4* 8>E&4,+$ 41+%4*4 #+>$,&0H4* $>E&4,+ ,4 +01+ )$%/G/&/?@C@' +O+>1+*+ >+,1%$*+ =+%&O+%&>+ .=&.&G&*.% )+1+%H&,F %+)4>+%+$ 1.,404*4&3 C, >$G4* O+H+&*.% >$%+ >.,04HF $01O+* )+ )%.(4%&N 0+ .D0+%@F . B,>+1&,&%+ $ +f=4*G&+& B, 1&H=4* ,$I1+%&&3 ;+.$%+>+ .=&.&G&& 1%$@+%0+$GF D$%&+%$ =*$>+,1$%F I& $k4,( *$ OF1N 41&*&G$%+$ *.% B, .D01+1%&>F +01+ *&H&1$1F3 ;$>F 0'$4 41&*&G$1 .=&.&G& *$ H$HFN &H+)&$1 )4=F ,$I1+%+ 0+ &,k+>1+$GF ,.4 ,F0>414*4& 4, $,1$(.,&01 =+,1%4 $ B,*F14%$ )+=%+0&$ ,+.,$1$*F3 #+=+%&)&,$ =%.)4>+ . )+=%+0&+ H$& %+)40FN B, =$%1&>4*$% )+=%+0&+ %+0=&%$1.%&+ QL4*4%N ?YYaR3 l#hr# 0"*A?*C* )G')'Q'C)& /.@G&/ .'.?*H@C@' >*@&)*>+)A&'> !'.?*H@C >*@&)*>+)A&'> +01+ $O+>1$1 I& +* )+ 41&*&G$%+$ .=&.&G&*.%3 8,$*(+G&>+*+ .=&.&)+ 01&H4*+$GF +*&D+%$%+$ )+ 8;lN =%.*$>1&,F I& 0.H$1.1%.=&,F I& &,]&DF +*&D+%$%+$ ].%H.,4*4& *41+&,&G$,13 8>+01 O$=1 ,+ $%$1F >F =+=1&)+*+ .=&.&)+ +,).(+,+ $>E&.,+$GF $04=%$ ]&=.1$*$H404*4& I& k.$>F 4, %.* %+(*$1.% B, $>+01 0&01+H Q•$1G4,(N ?YYaR3 l#hh# 0"*A?*C* )G')'Q'C)& /.@G&/ .'.?*H@C@' 'H@> /=&.&G&& =.1 H.)4*$ $>E&4,+$ .'.?*H@C@' 'H@> =%&, &,]&D$%+$ =%.*&O+%F%&& *&HO.>&1+*.%N =%.)4>+%&& )+ $,1&>.%=& I& >]+H.1$f&+&3 8>1&@&1$1+$ >&1.*&1&>F $ T• Q,$14%$* j&**+%R I& %F0=4,04* *&HO.>&1+*.% 04,1 &,]&D$1+ )+ .=&.&G&3 #+>$,&0H+*+ &H=*&>$1+ 04,1 >.H=*+f+N $>1&@$%+$ %+>+=1.%&*.% >+,1%$*& .=&.&G& =41A,) H+)&$ >.H=.,+,1+ &H=.%1$,1+ $*+ O4,>E&+& &H4,+ =+%&O+%&>+3 C, (+,+%$*N $>+01+ +O+>1+ 04,1 H+)&$1+ )+ 0&01+H4* ,+%@.0 0&H=$1&> B, >$G4* $)H&,&01%F%&& $>41+ I& )+ 0&01+H4* ]&=.1$*$H&>'=&14&1$%'$)%+,+%(&> B, >$G4* $)H&,&01%F%&& =%+*4,(&1+ Q#$>]+*0j$N ?YYaR3
?b"
X'KC')(&/"'* "3 `%.~+% g3 T+~ =$1]0 1. =$&, %+*&+O3 T$1 `&.1+>],.* ?YYYq "\d S\aeX"3 ?3 L4*4% 93N P.*)&,(+% P#3N 8>‰4$)%. #83N 2.,>+=10 &, =$&, H$,$(+H+,1N 2*&, 9+)&$1% #+) P4%(3N ?YYa3 S3 m$D$ :3N #4,(&4 /323N 9+=1&)+*+ .=&.&)+ e . $D.%)$%+ O$%H$>.*.(&>FN 6)&13 P+)>.H -&D%&0N :$I&N ?YYa3 b3 m$D$ :3N 5$%E§4 -3N 5$HD$ `3N #4,(&4 /3N /=&.&G&& B, =+%&O+%&+d P=%+ . ,.4§ 01%$1+(&+ $,$*(+G&>§N /=&.&G&& )+ *$ >*$0&> *$ H.)+%,N 6)&13 8H$*1+$N ?YY_N"YZ'"""3 Z3 #4,(&4 /3 Q04D %+)$>1&$RN 5%$1$1 )+ $*(+G&.*.(&+N 6)3 9.*&%.HN :$I&N ?YY?3 _3 #4,(&4 /323 Q04D %+)$>1&$RN 8*(+G&.*.(&+ 0=+>&$*$N 6)3 9.*&%.HN :$0&N ?YYY a3 #4,(&4 /323N 8*(+G&.*.(&+ (+,+%$*$N 6)3 9.*&%.HN :$0&N "XXX \3 g+**$'`%&>$1 m3N #$>*+.) 8;3N 8)@+%0+ +OO+>10 .O .=&.&)0 ., 1]+ >+,1%$* ,+%@.40 0}01+H0 .O =$**&$1&@+ >$%+ =$1&+,10d m 9$&, 9$**&$1 2$%+ 9]$%H$>.1]+% ?YYa3 X3 #&%., -3N /=&.&G&& B, 1%$1$H+,14* )4%+%&& )&, >$,>+%N ?YY_N /=&.&G&& )+ *$ >*$0&> *$ H.)+%,N 6)&13 8H$*1+$N S?'b\3 "Y3 6,,&0 #N T+]%&,( 6N P>],+&)+% 23N 8)@+%0+ %+$>1&.,0 1. )%4(0d &, @&1%. 014)&+0 ~&1] &0.*$1+) >+**03 :,O*$HH 7+03 ?YYbqZS P4==* ?dP"YZ'\3 ""3 #$>]+*0j$ l3 5$%(+1&,( .O .=&.&)'=%.)4>&,( *+4j.>}1+0 O.% =$&, >.,1%.*3 T+4%.=+=1&)+03 ?YYaqb"QZRd?\Z'?XS "?3 •$1G4,( `3 L3N `$0&> $,) >*&,&>$* =]$%H$>.*.(} Q"Y1] +)&1&.,R ' 8 *$,(+ H+)&>$* D..jN 6)&13 #> L%$~ l&**N ?YYa3 "S3 5$%EF4 -3N #4,(&4 /323N J$%H$>.1+%$=&$ )4%+%&& @&0>+%$*+N +)3 6)&1;8TN ?YYb3 "b3 g$%(]+0+ 53N 9%.j&,+1&> 8(+,10 &, L$01%.&,1+01&,$* ;&0+$0+0N J%.,1&+%0 &, L$01%.&,1+01&,$* 7+0+$%>]N T.d ?YN 8)@$,>+0 &, ;%4( 5]+%$=}N P>$%=&(,$1. +)3N T+~ €.%jN ?YY?3 "Z3 P1+&, 2N #$>]+*0j$ lN P>]$O+% #N 9+%&=]+%$* $,$*(+0&> $,) $,1&&,O*$HH$1.%} +OO+>10 .O .=&.&)0N m3 7]+4H$1.*N ?YY"N _Yd b"_'b?b "_3 l$(]=$%$01 8N •]$,& 8N T$)+%& TN 8*&G$)+] 8#N #.1$H+)& J3N 7+=+$1+) $)H&,&01%$1&., .O ,&>.1&,+ $11+,4$1+0 1]+ )+@+*.=H+,1 .O H.%=]&,+ 1.*+%$,>+ $,) )+=+,)+,>+ &, H&>+3 9]$%H$>.* `&.>]+H `+]$@3 ?YYa3
?b?
<350,j74;1; 5024<01579 4; 94,4X7,37o7;32 Z, 5024<74 N120277 /01&, 23 #4,(&4 ;&0>&=*&,$ )+ J$%H$>.*.(&+ <#J oL%&(.%+ 53 9.=$o :$^& 4&(@H*>? C, 4%HF >4 4, )+>+,&4 $H =4D*&>$1 4, H$1+%&$* ).>4H+,1$% >4 1&1*4* MP&01+H4* >$,$D&,.&) e &H=*&>$E&& B, $*(+G&.*.(&+M Q"?R3 C, O&,$*4* $>+*4& $%1&>.* BH& +f=%&H$H .=&,&$ >F )+%&@$E&& >$,$D&,.&G& $% =41+$ )+@+,& $(+,E& O$%H$>.*.(&>& 41&*& >4 %.* $,$*(+G&>3 C, &,1+%@$*4* 0>4%0N $>+$01F =%+04=4,+%+ $ )+@+,&1 >+%1&14)&,+N $01O+* >FN B, H$& H4*1+ 01$1+ )+G@.*1$1+ +f&01F )+k$ =%.)40+ O$%H$>+41&>+ 41&*&G$1+ B, $>+01 0>.=N )$% I& =+,1%4 $*1+ $O+>E&4,&3 24 1.$1+ $>+01+$N B, ,4H+%.$0+ EF%& 41&*&G$%+$ H+)&>$*F $ >$,$D&,.&G&*.% +01+ &*+($*F I& 7.HA,&$ ,4 O$>+ +f>+=E&+3 ;+ $>++$N E&,A,) 0+$H$ )+ 1+,)&,E$ )+ )+G&,>%&H&,$%+ $ >$,$D&,.&G&*.% =+ =*$, H.,)&$*N >.,0&)+% >F +01+ ,+>+0$% 0F ,+ %+@&G4&H =F%+%&*+N 0F B,*F14%FH =%+k4)+>FE&*+ I& 0F +f$H&,FH *$ %+>+ D+,+O&>&&*+ I& %&0>4%&*+ 41&*&GF%&& =*$,1+& I& $ )+%&@$E&*.% $>+01+&$ B, H+)&>&,F3 601+ >++$ >+ BI& =%.=4,+ H$1+%&$*4* )+ O$EF3 N/?* "/&H/A)C)('A* #$1+%&$ =%&HF =+,1%4 >$,$D&,.&G&& ,$14%$*& . >.,01&14&+ >A,+=$ Q>$,,$D&0 0$1&@$N @$%&+1$1+$ &,)&>$R3 6f&01F )$1+ >$%+ $1+01F 41&*&G$%+$ 0$ B, H+)&>&,$ >]&,+GF B,>F )+ $>4H 1%+& H&& )+ $,&3 Q/ =%+G+,1$%+ >%.,.*.(&>F %+O+%&1.$%+ *$ 41&*&G$%+$ >$,$D&04*4& $ O.01 =4D*&>$1F )+ $41.% B, n5%$1$1 )+ 8*(+G&.*.(&+MR Q"SR3 5.$1+ =F%E&*+ =*$,1+& >.,E&, 04D01$,E+ =0&].$>1&@+ O&&,) >.,04H$1+ 04D )&O+%&1+ O.%H+ I& )+,4H&%& QH$%&k4$,$N ]$I&IN >]$%$0N D]$,(N ($,k$N )$(($R )$% >+$ H$& H$%+ >.,>+,1%$E&+ )+ =%&,>&=&& $>1&@+ 0+ (F0+I1+ B, O*.%& I& O%4,G+3 2A,+=$ >.,E&,+ H$& H4*1 )+ b_Y 04D01$,E+ >]&H&>+ )&,1%+ >$%+ H$& H4*1 )+ "Y\ >.,01&14&+ (%4=4* >$,$D&,.&G&*.%3 8>+I1&$ 04,1 )+%&@$E& )+ ,$14%F )&D+,G.=&%$,&>F >4 1%+& &,+*+ D+,G+,&>+ Q$*E& >+%>+1F1.%& B& >.,0&)+%F 1+%=+,.&G& QbN ""R3 :)+,1&O&>$E& I& &G.*$E& )&, =*$,1FN >$,$D&,.&G&& $4 O.01 014)&$E& H$& &,1+,0 )4=F $,&& "XaYN H$& $*+0 )&, >$4G$ >.,04H4*4& ,+H+)&>$* B, %A,)4* 1&,+%&*.% >$%+ B& >.,04H$4 =+,1%4 +O+>14* +4O.%&> I& =+,1%4 O$>&*&1$%+$ %+*$E&&*.% )+ (%4=3 24 $>+$01F .>$G&+ $ >%+0>41 &,1+%+04* =+,1%4 &,@+01&($%+$ >$*&1FE&*.% O$%H$>.*.(&>+ $*+ $>+01.% >.H=4I& I& $ =.1+,E&$*4*4& *.% 1+%$=+41&>N $01O+* >FN 0'$4 $>4H4*$1 ,4H+%.$0+ )$1+ +f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~ P323 7&>+ $ %+$*&G$1 =%.=%&$ 0$ >*$0&O&>$%+ B, >$%+ $D4,)F 04D01$,E+ ,.& >4 ,4H+%+ )+ >.)3 ;+.$%+>+ 0>.=4* H$1+%&$*4*4& =%+G+,1$1 B, $>+01 >$=&1.* ,4 +01+ )+ ).H+,&4* O$%H$>.*.(&+& D&.>]&H&>+ >& )+ >+* $* O$%H$>.1+%$=&+&N ,+ =+%H&1+H $ =%+G+,1$ . >*$0&O&>$%+ 0&H=*&O&>$1FN >$%+N 0=+%FHN @$ $k41$ >&1&1.%4* 0F 0+ .%&+,1+G+ 0=%+ $>+& $(+,E& O$%H$>.*.(&>& >$%+ $4 ).@+)&1 4, =.1+,E&$* 1+%$=+41&>3
?bS
9C/.'"'A/&*/ A/>/K'>)'Q'C)& 4# 0U)(*>' " ;(*'726' "2)+*2&' D1'" ,&2")3E # )+*1$'X Q"R'1+1%$]&)%.>$,$D&,.&) QX'5l2R # )+*1$'\'5l2 # >$,$D&,.* # >$,$D&)&.* " ;(*'726' 8'")()'/' # 8(.,&I1& ,+0+*+>1&@& - ,$D&*., - >$,$D&,.&) D&>&>*&> - >$,$D&,.&) 1%&>&>*&> - $H&,.$*j&*&,).*& - )+%&@$E& )+ )+*1$'\'l52 # 8(.,&I1& $& %+>+=1.%4*4& 2`" - H+1$$,$,)$H&)$ - $*E& )+%&@$E& Q>4 ,4H+%+ )+ >.)R # 8(.,&I1& $& %+>+=1.%4*4& 2`? - &,).H+1$>&, H.%O.*&,&*$H&)F - $*E& )+%&@$E& Q=+01+ "YR >4 ,4H+%+ )+ >.) # 8,$*.(& $& +,).>$,$D&,.&G&*.% - H+1$,$,)$H&)$ - $%@$,&* # 8(.,&I1& K&,@+%I&M - )+%&@$E& >4 ,4H+%+ )+ >.) X# N*&'I/Y' *>+)(*>' B*>+)A/>/K'>)'Q'E # $,$,)$H&)+d - $,$,)$H&)$ ?YdbN ,'_ - $,$,)$H&)$ ?YdS3 T'_ Q? $%$]&).,&*(*&>+%.*N ?8LR - $,$,)$H&)$ ??dbN ,'_ - ,.*$)&, +1+% - @&%.)$H&,$ - =$*H&1.&*+1$,.*$H&)$ 84 O.01 &)+,1&O&>$E& QI& 4*1+%&.% >*.,$E&R ).4F 1&=4%& )+ %+>+=1.%& )+,4H&E& 2`" I& 2`?3 7+>+=1.%&& 2`" 0+ (F0+0> B, >%+&+% QH$& $*+0 B, >.%1+fN $%&&*+ .*O$>1&@+N ]&=.>$H=N >+%+D+*N ($,(*&.,&& D$G$*&N 04D01$,E$ >+,4I&+ =+%&$=+)4>1$*F I& B, >.$%,+*+ =.01+%&.$%+ $*+ HF)4@+&R B, >.,>+,1%$E&& B,$*1+N )$% I& B, E+0414%&*+ =+%&O+%&>+ >4H 04,1 =*FHA,4* I& &,1+01&,4* QbN ""N"SR3
7+>+=1.%&& 2`? 0+ (F0+0> B, E+0414%&*+ =+%&O+%&>+N &,>*40&@ B, 1+%H&,$E&&*+ ,+%@.$0+ )+ *$ $>+01 ,&@+*3 P1&H4*$%+$ $>+01.% %+>+=1.%& )+1+%H&,F +O+>1+ O&G&.*.(&>+ 0$4 O$%H$>.*.(&>+3 ;&, %$E&4,& )+ 0&01+H$1&G$%+ =%+G+,1FH 04>>&,1 +O+>1+*+ O$%H$>.*.(&>+ $*+ )+*1$'X'5l2 B, 1$D+*4* " QbN ""N "SR3
?bb
5$D+*4* " 6O+>1+*+ O$%H$>.)&,$H&>+ $*+ )+*1$'X'5l2 !'.?*H ./@ )&(/> P&01+H4* ,+%@.0 >+,1%$*
0"*A? 64O.%&+ 7+*$f$%+ P.H,.*+,EF 8,$*(+G&+ 7A0 0=.,1$, -.(.%++ 2.,O4G&+ P>F)+%+$d
3K.*&I/Y'' 2A,) 04D&+>14* +01+ 0&,(4%
2A,) 04D&+>14* +01+ $,14%$1
•
>.,>+,1%F%&& H+H.%&+& O.%E+& H40>4*$%+ $1+,E&+& =+%>+=E&+& 1+H=.%$*+ >$=$>&1FE&& )+ >.H4,&>$%+ P1&H4*$%+$d (4014*4& H&%.04*4& 1$>14*4& +O+>1 ,+4%.=%.1+>1.% • • • • •
• • • •
8=$%$1 @$0>4*
%$>$%)&.'
P&01+H4* &H4, P&01+H4* +,).>%&, />]& 8=$%$1 )&(+01&@ #+1$D.*&0H
l$*4>&,$E&& ;+=+%0.,$*&G$%+ 8,f&+1$1+ 90&].GF 1.f&>F 5$]&>$%)&+ C,%.I&%+$ >.,k4>1&@+&
<1&* B, 8g2N 8-cN 9$%j&,0., -$ ).G+ 1.f&>+ 0$4 *$ 41&*&G$%+ B,)+*4,($1F )+ ).G+ H$%&
- C, >*&,.01$1&0H - C, .%1.01$1&0H
š58 ›58 :H4,.)+=%&H$%+ ›5+01.01+%.,4* › -l › 9%+0&4,+ .>4*$%F 8,1&+H+1&> 8,1&.f&)$,1
-
2&>*4%& $,.@4*$1.%&&
9%&, $>E&4,+ >+,1%$*F Q,$D&*.,R
P+ O$> +O.%14%& B, )&%+>E&$ 0+=$%F%&& +O+>14*4& +4O.%&> $* >$,$D&,.&G&*.% )+ >++$ >+ $% =41+$ $@+$ 4, =.1+,E&$* 1+%$=+41&>3 C, $>+01 0>.= $4 O.01 0&,1+1&G$E& . 0+%&+ )+ )+%&@$E& $,$*.(& $& =%.=$,.')+*1$'\'1+1%$]&)%.>$,$D&,.*4*4&N $(+,E& $>1&@& H$& $*+0 *$ ,&@+*4* %+>+=1.%&*.% 2` ?3 8>+I1& )+%&@$E& 04,1 B, )&O+%&1+ 01$)&& )+ &,@+01&($%+ +f=+%&H+,1$*F3 1?'C'QF&' ?*&/G*@?'A* / >+%>+1$%+ +f1+,0&@F $ *&1+%$14%&& H+)&>$*+ %+*+@F ,4H+%.$0+ 41&*&GF%& $*+ >$,$D&04*4& I& )+%&@$E&*.% 0&,1+1&>&3 ;4=F L%.1+,]+%H+, Q>&1$1 )+ "RN $>+01+$ $% O& BH=F%E&1+ $01O+*d # ":")." */;"*(." )+ )"%.(.+*(0" N0 S " 1%$1$H+,14* (%+E4%&*.% I& @F%0F14%&*.% " 0&,)%.H =%+H+,01%4$* " =&+%)+%+$ B, (%+41$1+ " &,0.H,&+
?bZ
#
#
" &,$=+1+,EF *"*A?* ?*&/G*@?'A* •&*C/?'I K'>* A)>"'&H/?*{d " )4%+%& ,+4%.=$1&>+ " 0=$01&>&1$1+ " 14*D4%F%& )+ H&I>$%+ Q9$%j&,0.,N l4,1&,(1.,R " (*$4>.H " $01H D%.,I&>3 *"*A?* ?*&/G*@?'A* &/G)&?/?* +'> A*&A*?F&' G&*C'H'>/&*^ " >.*., &%&1$D&* " "
#
H&(%+,+ O&D%.H&$*(&+ " $O+>E&4,& $*+ 04=%$%+,$*+*.% *"*A?* ?*&/G*@?'A* &/G)&?/?* G* @> >@HF& +* A/Q@&'^ " $D4G4* )+ $*>..* " 0>*+%.G$ *$1+%$* $H&.1%.O&>F " >$,>+%4* >.*.'%+>1$* " $1+%.0>*+%.G$ " ,+4%.=$1&&*+ $00.>&$1+ >4 l:g " )+=%+0&&*+ " +=&*+=0&$ " ]+=$1&1$ 2 " =%4%&1 " =0.%&$G&0 " $,.%+f&$ ,+%@.$0F " $=,++$ )+ 0.H,
2*G*&* ?)U'A)C)('A* h&,A,) 0+$H$ )+ @$%&+1$1+$ )+ $O+>E&4,& B, >$%+ +01+ >*$H$1F . .$%+>$%+ +O&>$>&1$1+ 1+%$=+41&>F $ >$,$D&,.&G&*.%N +01+ O&%+0> 0F ,+ B,1%+DFH I& >$%+ 04,1 %&0>4%&*+ 41&*&GF%&& $>+01.% =%.)40+N =+ 1+%H+, *4,(3 ;&, O.$%1+ ,4H+%.$0+*+ =4D*&>$E&& =+ $>+$01F 1+HF 0+ )+0=%&,) 4%HF1.$%+*+ Q"N bN aRd ,4 +f&01F ,&>& 4, >$G >.,O&%H$1 I& =4D*&>$1 )+0=%+ @%+4, )+>+0 4H$, =%&, &,1.f&>$%+ >4 >$,$D&0q 1.f&>&1$1+$ $>41F *$ $,&H$*4* )+ +f=+%&+,EF Q%.GF1.$%+R +f=%&H$1F =%&, ;- ZY +01+ +f1%+H )+ H&>FN B, >.H=$%$E&+ >4 $*1+ H+)&>$H+,1+ 41&*&G$1+ B, H.) >4%+,1q +f&01F )$1+ >$%+ $1+01F +O+>1+ $)@+%0+ >$%)&.@$0>4*$%+ Q&,O$%>1 )+ H&.>$%)N 82gN 01%.j+ I3$3R H$& $*+0 *$ &,)&@&G& H$& @A%01,&>& >$%+ =%+G+,1$4 &,04O&>&+,EF >.%.,$%&$,F 0$4 >+%+D%.@$0>4*$%F3 ;+ $>++$ +01+ &,)&>$1 >$ H+)&>4* >$%+ &,1+,E&.,+$GF 0F =%+0>%&+ >$,$D&,.&G& =+,1%4 4, =$>&+,1N &,)&O+%+,1 )+ @A%01FN 0F @+%&O&>+ &,1+(%&1$1+$ 0&01+H4*4& >$%)&.@$0>4*$% I& 0F 04=%$@+(]+G+ $1+,1 1%$1$H+,14*q *$ ,&@+* =4*H.,$% O4H$14* >$,$D&,.&G&*.% ,4 )+1+%H&,F +O+>1+ $)@+%0+ )&O+%&1+ O$EF )+ O4H$14* 1414,4*4&q 41&*&G$%+$ >$,$D&,.&G&*.% ,4 $ )+1+%H&,$1 @$*.%& 0+H,&O&>$1&@ )&O+%&1+ $*+ >$,>+%4*4& .%.O$%&(&$, 0$4 =4*H.,$% O$EF )+ &,>&)+,E$ $>+01+& $O+>E&4,& >$ 4%H$%+ $ 41&*&GF%&& 1414,4*4& I& $*>..*4*4&q
?b_
PT2 e 04=%$).G$%+$ >$,$D&,.&G&*.% )+1+%H&,F $(&1$E&+N >.,O4G&+N 4*1+%&.% 0+)$%+ OF%F $ )4>+ *$ )+>+03 2.H=$%$1&@N 41&*&G$%+$ .=&.&G&*.% B, 04=%$).GFN )+1+%H&,F )+=%&H$%+ %+0=&%$1.%&+ I& H.$%1+3
2)C@C A/>/K'>)'Q'C)& W> ?*&/G'/ +@&*&'' C, 4*1&H+*+ ).4F )+>+,&& 0'$4 $>4H4*$1 ,4H+%.$0+ )$1+ +f=+%&H+,1$*+ >$%+ $1+01F +O+>14* $,1&,.>&>+=1&@ $* >$,$D&,.&G&*.% *$ ,&@+* >+,1%$* Q04D01$,E$ >+,4I&+ =+%&$=+)4>1$*FN ,4>*+&& %$O+*4*4& ).%0$*N D4*D4* %$]&)&$,N ,+4%.,&& I& H&>%.(*&$ )&, >.%,4* =.01+%&.% $* HF)4@+& 0=&,F%&&R +O+>1 >+ 0+ %+$*&G+$GF =%&, &,1+%H+)&4* %+>+=1.%4*4& 2`"3 C, $>+*$I 1&H=N 0'$4 %$=.%1$1 %+G4*1$1+ >$%+ @&, B, 0=%&k&,4* &=.1+G+& +f&01+,E+& I& $ 4,+& $>E&4,& $,$*(+G&>+ =+%&O+%&>+ $ >$,$D&,.&G&*.% H+)&$1F =%&, &,1+%H+)&4* %+>+=1.%4*4& 2` ? Q)$% I& =%&, $*1+ =.0&D&*+ H+>$,&0H+R3 P14)&& +O+>14$1+ =+ H.)+*+ $,&H$*+ )+ )4%+%+ ,+4%.=$1F 1&,) 0F $%$1+ 04=+%&.%&1$1+$ >$,$D&,.&G&*.% O$EF )+ .=&.&G& B, %+)4>+%+$ ,.>&>+=E&+&3 ;$>F ).@+G&*+ +f=+%&H+,1$*+ 04,1 $D0.*41 >.,@&,(F1.$%+ B, =%&@&,E$ $>E&4,&& $,$*(+G&>+ $ >$,$D&,.&G&*.% *$ $,&H$*4* )+ +f=+%&+,EFN ).@+G&*+ >*&,&>+ 04,1 >+@$ H$& H.)+01+N O&&,) %$=.%1$1+ )$1+ >4 %+G4*1$1+ )&O+%&1+N 4,+.%& >.,1%$)&>1.%&&3 ;&, $>+$01F >$4GFN 1%&$*4%&*+ >*&,&>+ 0'$4 B,H4*E&1 B, 4*1&H4* )+>+,&4N H$& $*+0 B, P<8 I& 2$,$)$ 4,)+ =%+=$%$1+*+ 04,1 )+k$ B, 4G Q"N ?N SN aN \R3 P+ $>.%)F . $1+,E&+ =+ )+=*&, k401&O&>$1F 014)&&*.% )4D*4 .%D +O+>14$1+ $1A1 >4 +f1%$>1+ @+(+1$*+ >A1 I& >4 )+%&@$E& 0&,1+1&>&N >+%>+1F%& B, >$%+ 0+ $=%+>&$GF $1A1 $>E&4,+$ $,$*(+G&>F >A1 I& +O+>1+*+ $)@+%0+ =+,1%4 $ 0+ =41+$ $=%+>&$ >.+O&>&+,14* %&0>rD+,+O&>&43 ;&@+%0+*+ )$1+ =4D*&>$1+ $%$1F 4, +O+>1 $,$*(+G&> @$%&$D&* O$EF )+ =*$>+D. B, =%.=.%E&& >4=%&,0+ B,1%+ ?Y'ZZ{ Q$=%+>&$1 =%&, %+)4>+%+$ 0>.%4*4& =+ 0>$%$ g8PR Q"N SN aN\R3 P+ $=%+>&$GF >F $*F14%& )+ +O+>14* $,$*(+G&> 0+ $)$4(FN >$ 4, O$=1 =.G&1&@ I& +O+>1+*+ $,1&+H+1&>N $,1&&,O*$H$1.% =%+>4H I& +O+>14* $,f&.*&1&> B, >$G4* =$>&+,E&*.% >4 )4%+%+ ,+4%.=$1F QbN ZN aN "YR3 P14)&&*+ +O+>14$1+ B, 4*1&H4* )+>+,&4 1&,) 0F $%$1+ >F +O+>1+*+ >$,$D&,.&G&*.% B, )4%+%+$ $>41F 04,1 H4*1 H$& =4E&, +@&)+,E&$1+ )+>A1 B, )4%+%+$ >%.,&>F3 C, $>+01 4*1&H 1&= )+ )4%+%+N )+I& >$,$D&,.&G&& $4 4, +O+>1 $,1&$*(&> H$& 0*$D )+>A1 $* .=&.&G&*.% =41+%,&>&N 1.14I&N +O+>1+*+ $)@+%0+ .D0+%@$1+ 04,1 &,>.H=$%$D&* B, O$@.$%+$ )+%&@$E&*.% )+ >$,$D&0 Q"R3 ;&, 014)&&*+ >*&,&>+ $ %+&+I&1 >FN *$ =$>&+,E&& >4 )4%+%+ =%.@.>$1F )+ >$,>+%N ).G+*+ )+ "Y I& ?Y H( )+ 1+1%$]&)%.>$,$D&,.* Q5l2R $4 O.01 +>]&@$*+,1+ >4 ).G+*+ )+ _Y I& %+0=+>1&@ "?Y H( )+ >.)+&,F Q).G+*+ H$& H$%& )+ >$,$D&,.&) (+,+%$4 +O+>1+ $)@+%0+R Q\R3 2$ 4%H$%+N 0'$ 04(+%$1 >F )+%&@$E&& >$,$D&,.&G& $% =41+$ O& 41&*&G$E& >4 04>>+0 B, 1+%$=&$ )4%+%&*.% >%.,&>+ B, >.HD&,$E&& >4 $*1+ $,$*(+G&>+N B, ).G+ >$%+ 0F )+1+%H&,+ . =.1+,E$%+ $ +O+>14*4& $,$*(+G&> B, >.,)&E&&*+ %+)4>+%&& >.,>.H&1+,1+ $ %&0>4*4& )+ $=$%&E&+ $ +O+>1+*.% $)@+%0+ Q"N aR3 0UG*&'*>Y/ /H*&'A/>F C, P<8 0+ 41&*&G+$GF H+)&>$H+,1+ >$,$D&,.&)+ )&, 4%HF1.$%+*+ >$1+(.%&&d 8(+,E& O$%H$>.*.(&>& H.*+>4*$%& 0&,1+1&>& 0$4 0+H&0&,1+1&>& )&0=.,&D&*& >4 =%+0>%&=E&+ H+)&>$*F3 8>+I1&$ 04,1 )%.,$D&,.* I& ,$D&*.,+N &,1%.)4I& )&, "X\Z =+,1%4 1+%$=&$ (%+E4%&*.% I& @F%0F14%&*.% *$ =$>&+,E&& 04=4I& >]&H&.1+%$=&+& $,1&>$,>+%.$0+ Q"YRq " 6f1%$>1+ *&>]&)+ =+ D$GF )+ >$,$D&0 41&*&G$1+ =+,1%4 1+%$=&$ )4%+%&*.% %+O%$>1$%+ )&, >$,>+%3 8=%.D$1 H$& B,1A& B, #$%+$ `%&1$,&+N +01+ 41&*&G$1 )&, ?YYZ B, 2$,$)$ I& 4*1+%&.% B, $*1+ "
?ba
?? )+ EF%&3 ;+,4H&%+$ >.H4,F &,1+%,$E&.,$*F $ =%+=$%$14*4& Q41&*&G$1 I& B, )4%+%&*+ ,+4%.=$1&>+ )&, 0>*+%.G$ H4*1&=*FR +01+ ,$D&f&H.*0 QaRq " 9*$,1$ 2$,,$D&0 0$1&@$N 41&*&G$1F >$ $1$%+N ,4 +01+ $=%.D$1F $ O& =%+0>%&0F B, H.) >4%+,1N )$% >.,01&14&+ .D&+>14* $ =+01+ SS )+ 014)&& >*&,&>+ 1+%H&,$1+ I& $ $*1.%$ B, >4%0 )+ )+0OFI4%$%+3 C, >$)%4* $>+01.% 1%&$*4%& $4 O.01 4%HF%&1+ $0=+>1+ O$%H$>.>&,+1&>+ QO.%H+ O$%H$>+41&>+N >F& )+ $)H&,&01%$%+RN O$%H$>.)&,$H&>+ Q+O+>1+ >.H=$%$1&@+ >4 =*$>+D. 0$4 04D01$,E+ )+ %+O+%&,EFN $04=%$ $=+1&14*4&N )4%+%&& >%.,&>+ ,+4%.=$1&>+ 0$4 =%.@.>$1+ )+ l:gN 0=$01&>&1FE&& )&, 0>*+%.G$ H4*1&=*FN +=4&GF%&& O&G&>+N (*$4>.H4*4&N (%+E4%&*.% I& @F%0F14%&*.% I& 1.f&>.*.(&>+ Q+O+>1+ =+ 1+%H+, 0>4%1N H+)&4 I& *4,(R QaN "bR3 C, =%&@&,E$ +O+>1+*.% $)@+%0+N 0+ H+,E&.,+$GF >FN B, 014)&&*+ >*&,&>+ =.0&D&*&1$1+$ $=$%&E&+& 4,.% 0+H,+ )+ 04=%$).G$%+ +01+ H&,&HFN $01O+* >F +O+>1+ >$ $1$>4%& )+ =$,&>FN )+=+%0.,$*&G$%+$ 0$4 1$]&>$%)&$N 04,1 . %$%&1$1+3 ;&, $>+01+ 014)&&N $ %+&+I&1 >F B,1%+%4=+%+$ 1%$1$H+,14*4& ,4 $ )+1+%H&,$1 @%+4, 0&,)%.H )+ $D01&,+,EFN $01O+* >F 0'$ >.,>]&0 >FN 1+%$=&$ >4 >$,$D&0 =%+G&,1F +O&>$>&1$1+ >*&,&>F B, 1%$1$H+,14* (%+E4%&*.% =+%0&01+,1+N $ )4%+%&*.% >%.,&>+ I& B, >$I+f&+3 8>+01+ >.,>*4G&& 04,1 040E&,41+ )+ H+1$$,$*&G+ >$%+N =+ D$G$ $ a? )+ 014)&& >.,1%.*$1+ >.,O&%HF O$=14* >F )+%&@$E&& >$,$D&,.&G& $4 4, =.1+,E&$* 1+%$=+41&> 0+H,&O&>$1&@ Q)+I& 0+ >&1+$GF I& =$1%4 014)&& >4 %+G4*1$1+ ,+($1&@+R3 Q"N ?N _N aR3 C, =%&@&,E$ =+%&>.*4*4& )+ $ )+1+%H&,$N B, 4%H$ >.,04H4*4& >%.,&>N 0>]&G.O%+,&+ 0$4 =0&].G+ (%$@+N 014)&&*+ $H+%&>$,+ I& D%&1$,&>+ $%$1F >F $>+01 =+%&>.* $ O.01 +f$(+%$1 I& >F %&0>4* )+ $ )+G@.*1$ . 0>]&G.O%+,&+ >$ 4%H$%+ $ >.,04H4*4& B,)+*4,($1 )+ >$,,$D&0 +01+ $=%.f&H$1&@ "{3 -+($1 )+ +O+>14* $,$*(+G&>N 0+ >.,0&)+%F >F 41&*&G$%+$ =*$,1+& +01+ 04=+%&.$%F 41&*&GF%&& $(+,E&*.% 0&,1+1&>& )+.$%+>+ =+ *A,(F $>E&4,+$ $04=%$ %+>+=1.%&*.% 2`" I& 2`? 4, +O+>1 0&,+%(&> 0+ .DE&,+ I& )$1.%&1F =%+G+,E+& B, =%+=$%$14* @+(+1$* $* 1+%=+,.&G&*.%N O*$@.,.&G&*.% I& $ 4*+&4%&*.% +0+,E&$*+ >$%+ =.1 $>E&.,$ $04=%$ O$>1.%&*.% =%.&,O*$H$1.%& Q=%.01$(*$,)&,+N >}1.j&,+R I& $ H.)4*F%&& =%+0&,$=1&>+ $ 4,.% ,+4%.1%$,0H&EF1.%& Q_N aN XR3 -&D+%$*&G$%+$ 41&*&GF%&& H+)&>$*+ $ )+%&@$E&*.% >$,$D&,.&G& +01+ %+$*&G$1F B, H$& H4*1+ 01$1+ $H+%&>$,+ Q"\ 01$1+ =A,F B, $,4* ?Y"?R B, >.,)&E&&*+ +f&01+,E+& 4,+& =%+0&4,& >%+0>A,)+ $04=%$ (4@+%,4*4& O+)+%$* )+ $ =+%H&1+ 41&*&G$%+$ *+($*F $ >$,$D&,.&G&*.% B, 0>.=4%& H+)&>$*+ =+ 1.1 1+%&1.%&4* P<83 0UG*&'*>Y/ A/>/+'/>F C, 2$,$)$ 41&*&G$%+$ >$,$D&,.&G&*.% B, 0>.=4%& H+)&>$*+ +01+ $=%.D$1F *+($* )+ (4@+%,4* O+)+%$*N 4*1&H4* ).>4H+,1 B, ).H+,&4 )$1A,) )&, ?Y"Y3 2$,$D&,.&G&& $O*$E& =+,1%4 =%+0>%&+%+ *$ )&0=.G&E&$ H+)&>&*.% 04,1d # ;%.,$D&,.*N =%.)40 0&,1+1&> >.,)&E&.,$1 =+,1%4 >$*+$ .%$*F I& >.H+%>&$*&G$1 >4 )+,4H&%+$ #$%&,.*¨q # T$D&*.,+N )+%&@$1 0&,1+1&> )+ 1+1%$]&)%.>$,$D&,.* =+,1%4 $)H&,&01%$%+ .%$*F )+,4H&1 2+0$H+1¨q # 2$,,$D&)&.*N 41&*&G$1 B, =%.=.%E&+ +($*F >4 5l2 B, 0=%$}'4* .%$* >.H+%>&$*&G$1 >$ P$1&@+f¨q # 5+1%$]&)%.>$,$D&,.*4*N )+%&@$1 )&, =*$,1F Q>4 +O+>1+ =0&].$>1&@+R3 8>+01+ =%+=$%$1+ $4 $=%.D$1+ 4%HF1.$%+*+ &,)&>$E&&d # (%+E4%&*+ I& @F%0F14%&*+ )&, >]&H&.1+%$=&+ # =+,1%4 01&H4*$%+$ $=+1&14*4&N *$ D.*,$@&& )+ P:;8
?b\
=+,1%4 1%$1$%+$ )4%+%&*.% ,+4%.=$1+N $ )4%+%&*.% 0+@+%+ )&, >$,>+%+*+ $@$,0$1+ I& $ 0=$01&>&1FE&& )&, 0>*+%.G$ H4*1&=*F Q"bR3 P+ =%+>&G+$GF >F H+)&>4* +01+ )$1.% 0F &,O.%H+G+ =$>&+,14* >F ,4 $%+ @.&+ 0F >.,)4>F $41.@+]&>4*+ >A1 1&H= 0+ $O*F 04D &,O*4+,E$ H+)&>$H+,1+*.%3 ;+.$%+>+ =$>&+,E&& 04,1 B,0>%&I& B, =%.(%$H4* )+ H.,&1.%&G$%+ $ 41&*&GF%&& >$,$D&04*4&N H+)&>4* =%$>1&>&$, ,4 =%+0>%&+ H+)&>$H+,14* >& ).$% >+%1&O&>F O$=14* >F =$>&+,14* 0F4 =%+G&,1F 0&H=1.H+ >$%+ $% =41+$ O& >.HDF141+ +O&>&+,1 =%&,1%'4, 1%$1$H+,1 >4 >$,$D&,.&G&3 2$ 4%H$%+ $ $>+014& ).>4H+,1N =$>&+,14* =.$1+ O& &,>*40 B, =%.(%$H3 #
N'> *UG*&'*>Y/ /C?)& YF&' C, P8*2(&N 41&*&G$%+$ H$%&k4$,+& =+,1%4 4G H+)&>$* $ O.01 =+%H&0F B,>F )&, $,&& tXY =+,1%4 1+%$=&$ )4%+%&*.% )&, >$,>+%N $ )4%+%&*.% ,+4%.=$1&>+N $ 0>*+%.G+& H4*1&=*+N $ D.*&& 2%.], I& $ D.*&& 9$%j&,0., Q"YR3 C, $,4* ?Y"? $4 =%&H&1 =%+0>%&=E&& )+ 41&*&G$%+ $ $>+01+& H+)&>$E&& $=%.f&H$1&@ "YY3YYY =$>&+,E&3 :0%$+*4* $%+ )+k$ . 1%$)&E&+ B, ).H+,&4* 014)&4*4& >$,$D&,.&G&*.%N >+%>+1F1.%& )&, $>+$01F E$%F O&&,) &H=*&>$E& B, &G.*$%+$ I& )+0>.=+%&%+$ 1+1%$]&)%.>$,$D&,.*4*4& I& $ $,$,)$H&)+&3 9+%0.,$*N $H $@41 .>$G&$ 4,4& 0>]&HD )+ +f=+%&+,EFN =+ $>+$01F 1+HFN >4 %+=41$14* $*(+G&.*.( P&*@&4 `%&*N >4 .>$G&$ G&*+*.% %.HA,.'&0%$+*&+,+ )+ $*(+G&.*.(&+ Q"" +)&E&&R I& >$%+ H&'$ %+*$1$1 >F $ .DE&,41 %+G4*1$1+ D4,+ *$ 041+ )+ =$>&+,E& 1%$1$E& =+,1%4 )4%+%+$ >%.,&>F3 C, %*&H/>'/N )%.,$D&,.*4* +01+ )&0=.,&D&* =+,1%4 =%+0>%&+%+ )&, $,4* "XX\3 C, !G/>'/V =$%*$H+,14* 2$1$*.,&+& $ *+($*&G$1 41&*&G$%+$ H+)&>$*F $ H$%&k4$,+& )&, ?YY"3 C, 3C/>+/ B,>+=A,) )&, ?YYSN 0+ =.1 =%+0>%&+ *+($* )%.,$D&,.*4*N =%+>4H I& 4,+*+ O.%H+ O$%H$>+41&>+ .DE&,41+ )&, =*$,1F3 2*G@KC'A/ 9*D'/ $ *+($*&G$1 41&*&G$%+$ H+)&>$*F $ >$,$D&04*4& )+ *$ " $=%&*&+ ?Y"S3 2)Hp>'/ g &*/C'?FY' k' G*&.G*A?'I* C, E$%$ ,.$01%F +f&01F H$& H4*1+ *+(& >$%+ $4 B, >4=%&,04* *.% =%+@+)+%& >$%+ 0+ %+O+%F *$ >$,$D&0 I& *$ )+%&@$E&& $>+014&$d " -+(+$ "bSr?YYYN &,1&14*$1F K-+(+$ =%&@&,) =%+@+,&%+$ I& >.HD$1+%+$ 1%$O&>4*4& I& >.,04H4*4& &*&>&1 )+ )%.(4%&M QH.)&O&>$1F B, ?YY?N ?YYSN ?YYb I& $>14$*&G$1F B, ?Y""R B, >$%+N *$ $,+f+ B, 1$D+*4* S K>$,,$D&04*N %+G&,$ )&, >$,,$D&0 I& 4*+&4* )+ >$,,$D&0M 04,1 B,>$)%$1+ *$ )%.(4%& )+ %&0>q " -+(+$ "Xbr?Y"" =%&@&,) >.HD$1+%+$ .=+%$E&4,&*.% >4 =%.)40+ 040>+=1&D&*+ )+ $ $@+$ +O+>1+ =0&].$>1&@+N $*1+*+ )+>A1 >+*+ =%+@FG41+ )+ $>1+ ,.%H$1&@+ B, @&(.$%+q " C,1%+ $>+01+ ).4F *+(& $ O.01 =%.H4*($1F I& *+(+$ SSXr?YYZ &,1&14*$1F K-+(+$ =%&@&,) %+(&H4* k4%&)&> $* =*$,1+*.%N 04D01$,E+*.% I& =%+=$%$1+*.% 014=+O&$,1+ I& =0&].1%.=+M Q$>14$*&G$1F =%&, lL 0$4 /
?bX
=0&].1%.=+ I& 014=+O&$,1+ '>?*&Q'.*V C'G.'?* +* '>?*&*. &*A@>).A@? W> H*+'A'>F O$>+ =$%1+ Q=.G&E&$ S"RN 1+1%$]&)%.>$,$D&,.*4* I& &G.H+%&& 0F& QB, ,4HF% )+ I$0+R3 C, 1$D+*4* :: )&, $,+fF *$ *+(+$ 040'H+,E&.,$1FN &,1&14*$1 K9*$,1+N 04D01$,E+ I& =%+=$%$1+ >+ >.,E&, 04D01$,E+ 014=+O&$,1+ I& =0&].1%.=+ A/&* G&*Q'>?F '>?*&*. W> H*+'A'>FV .@G@.* @>@' A)>?&)C .?&'A?{ *$ =.G&E&$ "\ Q014=+O&$,1+R +01+ H+,E&.,$1 K>$,,$D&0N %+G&,F )+ >$,,$D&0N +f1%$>1+ I& 1&,>14%& )+ >$,,$D&0MN &$% *$ =0&].1%.=+ *$ =.G&E&$ S +01+ 1%+>41 )%.,$D&,.* Q)+,4H&%+$ >.H4,F &,1+%,$E&.,$*F Q;2R $ )+*1$'X'1+1%$]&)%.>$,$D&,.*4*4&R I& $ @$%&$,1+*.% 0$*+ 01+%+.>]&H&>+3 ;4=F >4H 0+ .D0+%@F *+(+$ )+0>]&)+ . K=.%1&EFM 0=%+ 41&*&G$%+$ H+)&>$*F Q04D >.,1%.* 01%&>1R $ 4,.% )+%&@$E& )+ >$,$D&0N )$% $>+01 *4>%4 ,4 +01+ 04O&>&+,13 9%&, 4%H$%+ >.,0&)+%FH >F $% O& ,+>+0$%Fd # . O*+f&D&*&G$%+ $ *+(&0*$E&+& B, ).H+,&4N >$%+ 0F =+%H&1F O$>&*&1$%+$ $>>+04*4& *$ =%+=$%$1+*+ H+)&>$H+,1.$0+ $O*$1+ B, 4G B, EF%&*+ )+G@.*1$1+N $I$ >4H $H $%F1$1 $,1+%&.%q # .%($,&G$%+$ Q04D +(&)$ #&,&01+%4*4& PF,F1FE&&R $ 4,4& >.*+>1&@ )+ =%.O+0&.,&I1& )&, ).H+,&&*+ &H=*&>$1+ B, .DE&,+%+$N +@$*4$%+$ I& 1+%$=&$ >4 >$,$D&,.&G& QO$%H$>.*.(&N O$%H$>&I1&N =0&]&$1%&N .,>.*.(&N ,+4%.*.(&N .O1$*H.*.(& I3$3R >$%+ 0F 01$D&*+$0>F I& $O+>E&4,&*+ B, >$%+ +01+ =%&.%&1$% 0F 0+ 41&*&G+G+ $>+01+ =%.)40+q # &,O.%H$%+$ Q=%&, H&k*.$>+ 0=+>&O&>+R $ =+%0.,$*4*4& H+)&>$* I& $ =$>&+,E&*.% $04=%$ 41&*&GF%&& >$,$D&,.&G&*.% I& $ $=%+>&+%&& %$=.%14*4& %&0>rD+,+O&>&4N B, >$G4* &,>*4)+%&& B, 0>]+H+*+ )+ 1%$1$H+,1 $ $>+01.% =%.)40+ O$%H$>+41&>+3 fff T.1Fd 5+f14* $>+014& >$=&1.* +01+ =%+*4$1 e =$%E&$* e )&,1%'4, H$1+%&$* $* $41.%4*4& =4D*&>$1 B, Kg&$E$ #+)&>$*FM B, $,4* ?Y"S3 X'KC')(&/"'* "3 8(($%~$* P3•3N 2$%1+% L353N #$}+% m3;3 #+)&>$* 40+ .O >$,,$D&0 &, 1]+ <,&1+) P1$1+0d l&01.%&>$* =+%0=+>1&@+0N >4%%+,1 1%+,)0N $,) O414%+ )&%+>1&.,03 m3 .O /=&.&) #$,$(+H+,1 ?YYXN ZdSN "ZS'"_\3 ?3 `+, 8H$% #3 2$,,$D&,.&)0 &, H+)&>&,+3 8 %+@&+~ .O 1]+&% 1]+%$=+41&> =.1+,1&$*3 m3 .O 61],.=]$%H$>.*.(}N ?YY_N "YZN "'?Z3 S3 6*&j.11&* m3 L4=1$ 93N L4=1$ •3 5]+ $,$*(+0&> =.1+,1&$* .O >$,,$D&,.&)03 m3 .O /=&.&) #$,$(+H+,1 ?YYXN ZN Sb"'SZa3 b3 l&%01 7383N -$HD+%1 ;3L3N T.*>411 x3L3 9]$%H$>.*.(} $,) =.1+,1&$* 1]+%$=+41&> 40+0 .O >$,,$D&03 `%&13 m3 .O 8,$+01]+0&$ "XX\N \"N aa'\b3 Z3 •$*$,) l3 #+)&>&,$* 40+ .O >$,,$D&0d l&01.%} $,) >4%%+,1 01$1403 9$&, 7+0+$%>] $,) #$,$(+H+,1 ?YY"N _N \Y'X"3 _3 •$*$,1 l3 PH.j+) H$%&k4$,$ $0 H+)&>&,+d T.1 H4>] O414%+3 2*&,3 9]$%H$>.* $,) 5]+%$=3 ?YY\N \SN S"a'S"X3 a3 •$*$,1 l3N 8,,} 9.%$1]'x$**+%3 2*+$%&,( 1]+ PH.j+ ., 2$,,$D&03 #+)&>$* <0+ .O 2$,,$D&0 $,) 2$,,$D&,.&)03 7$=.%1 22P8 /11$~$ ?Y"?N "'a3 \3 -$%01 #3N 8]%+,0 m3 7.*+ .O >$,,$D&,.&) &, 1]+ 1%+$1H+,1 .O =$&, $,) Q=$&,O4**R 0=$01&>&1}3 ;%4(0 ?Y"YN aYN ?bYX'?bS\3 X3 -.G$,. m3 5]+ 5]+%$=+41&> <0+ .O 2$,,$D&0 0$1&@$ Q-3R &, 8%$D&> #+)&>&,+3 m3 .O 2$,,$D&0 5]+%$=+41&>0 ?YY"N " Q"RN _S'aY3
?ZY
"Y3 #$>]$). 7.>]$ J323N P1+O$,. P323N )$ P&*@+&%$ ;3y3 5]+%$=+41&> 40+ .O 2$,,$D&0 0$1&@$ ., >]+H.1]+%$=}'&,)4>+) ,$40+$ $,) @.H&1&,( $H.,( >$,>+% =$1&+,10d 0}01+H$1&> %+@&+~ $,) H+1$'$,$*}0&03 64%3 m3 .O 2$,>+% 24%+N ?YY\N "aN bS"'bbS3 ""3 #>#$]., P3`3N •.*1G+,D4%( Q+)03R3 x$** $,) #+*G$>j©0 5+f1D..j .O 9$&, +)3 g'$3 6*0+@&+% 2]4%>]&** -&@&,(01.,+ -.,).,N ?YY_3 "?3 #4,(&4 /323N ;4,F%+$ :.,+0>4N :%&,$ m$D$3 P&01+H4* >$,$D&,.&) e &H=*&>$E&& B, $*(+G&.*.(&+3 :,O.H+)&>$ ?YY?N ?N "?'"Z3 "S3 #4,(&4 /323 5%$1$1 )+ $*(+G&.*.(&+N +)3 9.*&%.H :$I&N ?YY?3 "b3 c$&>+j m393N 8=.014 g3m3 7.*+ .O >$,,$D&,.&)0 &, H4*1&=*+ 0>*+%.0&03 2T2 ;%4(0N ?Y""N ?ZN "\a'?YY"3
?Z"
4X32N4204 N120277 Z, <2495794 60N791;17 N0 T467;70 2+*&,$ P1$O&+ ;&0>&=*&,$ )+ #+)&>&,F )+ J$H&*&+ <#J oL%&(.%+ 53 9.=$o :$^&
C, N*AC/&/?'/ +* C/ 6)>?&*/C +'> lrhr 01&=4*+$GFd n 8>>+04* *$ 1%$1$H+,14* )4%+%&& +01+ 4, )%+=1 O4,)$H+,1$* $* .H4*4&M Q"R3 - 8%13"3 5.[& .$H+,&& $4 )%+=14* *$ 1%$1$H+,14* )4%+%&& OF%F )&0>%&H&,$%+ 8%13?35.[& .$H+,&& $4 )%+=14* )+ $ O& &,O.%H$[& $04=%$ )4%+%&& ^& $ $>>+04*4& *$ 1%$1$%+$ $>+01+&$ - 8%13S39+%0.$,+*+ >4 )4%+%+ $4 $>>+0 ,+B,(%$)&1 *$ )&$(,.01&>$%+$ ^& 1%$1$%+$ )4%+%&& )+ >F%+ =+%0.,$* >$*&O&>$13 7+>.H$,)FH H+)&>4*4& )+ O$H&*&+ 0F $D.%)+G+ )4%+%+%+$ 0+ O$>+ B, O4,>[&+ )+d - *.>$*&G$%+$ +& ' )+ 0+(H+,14* $O+>1$1N - >$%$>1+%4* +& ' $>41 0$4 >%.,&>N - 0&H=1.H+*+ $0.>&$1+ )4%+%&& e $H+[+*&N @+%1&kN 01$%+ )+ *&=.1&H&+N (%+$[FN @F%0F14%&N ]+H.%$(&& >4 )&O+%&1+ *.>$*&GF%&3 8=.&N >$ H+)&> )+ O$H&*&+ @$ 1%+D4& 0F $>.%)+ 4, 1%$1$H+,1 =+ >A1 =.0&D&* +1&.*.(&>N $=.& O&G&.=$1.*.(&> ^& B, 4*1&H4* %A,) 0&H=1.H$1&> $* )4%+%&&3 2$ +f+H=*4d >+O$*++$ )&, D.*&*+ &,O+>1.' >.,1$(&.$0+ $%+ B,1.1)+$4,$ 4, >$%$>1+% =%.)%.H$*N $0.>&$1 >4 01$%+ (+,+%$*$ $O+>1$1FN >4 O+D%FN %+).$%+$ >+O+&N (%+$[F ^& >]&$% @.HF Q=+,1%4 H+,&,(&1+N +,>+O$*&1+R3 C, $>+01 >$GN ,4 $,$*(+G&>+*+ @.% %+)4>+ >+O$*++N >& e $^$ >4H H+,[&.,$H $,1+%&.% ' 1%$1$H+,14* +1&.*.(&> >4 $,1&D&.1&>+ &,k+>1$D&*+ e >+O$*.0=.%&,+ )+ (+,+%$[&$ $ 1%+&$N $*F14%& )+ 1%$1$H+,14* O&G&.=$1.*.(&> )+ 0>F)+%+ $ +)+H4*4& >+%+D%$* $0.>&$1 &,O*$H$[&+&N ]&)%$1$%+ ^& $,1&=&%+1&>+ ' 1%$1$H+,14* 0&H=1.H$1&>3 -
7# 9)G'C^ •
• •
• •
• • •
9*"/C**/ /A@?F g +'/(>).?'A* G).'K'C* W> "@>AS'* +* (&@G/ +* Ip&.?F / G/A'*>?@C@'^ D.*&*+ &,O+>1. ' >.,1$(&.$0+ $*+ >.=&*$%&+&N ]+=$1&1$ $>41F +=&)+H&>FN $,(&,$ 01%+=1.>.>&>F ' B,)%4H$%+ >F1%+ 0+>[&$ )+ D.*& &,O+>1&.$0+ @&>&&*+ )+ %+O%$>[&+ e B,)%4H$%+ >F1%+ .O1$*H.*.( 0&,)%.H4* =.011%$4H$1&> >+O$*&> Q%+G4*1F )&, $,$H,+G$ O$H&*&+&R ' 25 >%$,&$,N +f$H+, ,+4%.*.(&> H$*O.%H$1&&*+ $%1+%&.@+,.$0+ ' 25 N 7#T >+%+D%$* &,O+>[&&*+ &,1%$>%$,&+,+ ' #+,&,(&1$ D$>1+%&$,F $>41FN O.%H+*+ %$%+ )+ H+,&,(&1F ' H+,&,(&1$ >4 -}01+%&$ H.,.>}1.(+,+0N D.$*$ -}H+N H+,&,(&1$ >4 #}>.D$>1+%&4H 14D+%>4*.0&0N H+,&,(&1$ >4 $,$+%.D& ' 0+ @$ O$>+ =4,>[&$ *&>]&)4*4& >+O$*.%$]&)&$,N >4 >4*14%$ ^& $,1&D&.(%$H$N 1%$1$H+,1 >.,O.%H $,1&D&.(%$H+& +,>+O$*&1+*+ 14H.%&*+ >+%+D%$*+ $D>+04* >+%+D%$*
?Z?
•
'>"*AS''C* .'.?*H'A* A@ A*"/C** J' .*H>* +* '&'?/S'* H*>'>(*/>F B")/&?* 'HG)&?/>? +* '>AC@. W> +'/(>).?'A@C +'"*&*>S'/CE i )&$(,.01&>4* $=$%[&,+ H+)&>4*4& )+ O$H&*&+N B, H$04%$ B, >$%+ $>+01$ 1%+D4&+ 0F %+>4,.$0>F 0&H=1.H+*+ D.*&&N 0F +O+>14+G+ . $,$H,+G$ >*$%&O&>$1.$%+ =+,1%4 &)+,1&O&>$%+$ $(+,14*4& +1&.*.(&> ^& 0F &,01&14&+ 1%$1$H+,1 +1&.*.(&>N $,1&D&.1&>N $,1&@&%$*N 1%$1$H+,1 *.>$* B, >$G4* 0&,4G&1+& 0$4 .1&1+&N ^& 1%$1$H+,1 $,1&=&%+1&> =+,1%4 %+)4>+%+$ O+D%+&3 "3 %&>j+10&.G+*+ ?3 0=&%.>]+1.G+*+ Q0&O&*&0 >.,(+,&1$*R
S3 =,+4H.,&&*+ B,0.[&1+ )+ 0+H,+ )+ &%&1$[&+ H+,&,(+$,F Q2]*$H})&$N #}>.*=$0H$N l&01.=*$0H$R b3 O+D%$ 1&O.&)F Z3 =&+*.,+O%&1+*+ _3 &,O+>1&$ l:g $>41F 0&H=1.H$1&>F Q ?R 0&,4G&1$ $>41F .1&1$ $>41F H+)&+ 0+%.$0F 0$4 =4%4*+,1F3 8>+*$^& 0&H=1.H ' >+O$*++$N )$>$ +01+ =%+G+,1F *$ /+@C?N =.$1+ $)F4($ >$ ^& =.0&D&*+ >$4G+ ' B, .%)&,+$ O%+>@+,[+& *.%d l&=+%1+,0&4,+$ $%1+%&$*F ' 0+ @.% 1%$1$ O&G&.=$1.*.(&> )&O+%&1+*+ O.%H+ )+ ]&=+%1+,0&4,+ e +0+,[&$*F 0$4 0+>4,)$%F Q$&>& @.H 1%$1$ B, =%&H4* %A,) >$4G$ ' ]&=+%1&%.&)&$N O+.>%.H.>&1.H4*N =&+*.,+O%&1$ >%.,&>FN %&,&>]&4* =.*&>]&01&>N ]&=+%$*).01+%.,&H4* 0+>4,)$%N +1>R e (%4=+ )+ H+)&>$H+,1+d "3 1&,+%&' D+1$D*.>$,1+N )$>F =4*04* XYrH&,41 • •
•
•
•
?3 $)4*1& e .D+G&N >4 )&$D+1 ' D*.>$,1+ >$*>&>+ )&]&)%.=&%&)&,&>+N )&4%+1&>+ ,.,1&$G&)&>+ S3 $)4*1& ,.,.D+G& >4 $O+>[&4,& %+,$*+ ^& @$*.%& %&)&>$1+ 0&01.*.')&$01.*&>+ e &,]&D&1.%& $& +,G&H+& )+ >.,@+%0&+N 0$%1$,& b3 @A%01,&>& ' D*.>$,1+ >$*>&>+ )&]&)%.=&%&)&,&>+q $&>& 04,1 &,1+%G&0+ D+1$D*.>$,1+*+N B,1%4>A1 04,1 &,.1%.= ,+($1&@+ ^& =.1 )+=%&H$ >.,1%$>1&*&1$1+$ >.%)4*4&N )&4%+1&>+*+ 1&$G&)&>+ B, $)H&,&01%$%+ >.,1&,4FN B,1%4>A1 0=.*&$GF .%($,&0H4* )+ =.1$0&4 ^& =.1 )+1+%H&,$ $%&1H&& >$%)&$>+3 `.*&*+ )+ H+1$D.*&0Hd "3 ]&=.(*&>+H&$ Q)&$D+14* G$]$%$1R ' %++>]&*&D%$%+$ (*&>+H&+& =%&, &,(+01&+ )+ ]&)%.>$%D.,$1+ >4 $D0.%D[&+ %$=&)F 0$4 >]&$% $)H&,&01%$%+ )+ (*4>.GF ]&=+%1.,F SS { ?3 )&0*&=&)+H&&*+ 0+@+%+ ' >4 . >$*&1$1+ 0*$DF $ 0A,(+*4&N >$%+ B& H.)&O&>F =%.=%&+1F[&*+ %+.*.(&>+ ' 1%$1$H+,1 >4 01$1&,+ ^&r0$4 O&D%$[&N $0.>&$1+ %+(&H4*4& $*&H+,1$% ]&=.*&=&)&> ^& ]&=.(*4>&)&> S3 ]&=+%4%&>+H&$ ' 1.1 B, >.,1+f14* 0&,)%.H4*4& H+1$D.*&> #&(%+,$ ' )$>F $%+ >$%$>1+% )+ ]+H&>%$,&+ =4*0$1&*FN >4 =+%&.)&>&1$1+ )+ >+*+ H$& H4*1+ .%& >.,>.%)$,1F >4 H+,01%4$[&$ ' 1%$1$H+,14* +01+ >4%$1&@ >4 $,1&&,O*$H$1.$%+ ^& @$0.)&*$1$1.$%+ >+%+D%$*+N &$% 1%$1$H+,14* =%+@+,1&@ >4 $*O$ ?
?ZS
• • • •
•
$(.,&^1& Q2*.,&)&,$N ;.=+(}1 ' $*O$ #+1&*).=$R 0$4 >4 D+1$ D*.>$,1+ Q #+1.=%.*.*N 81+,.*.*R3 #+,01%4$[&$ 2+O$*++$ =.01H+)&>$H+,1.$0Fd ,&1%$[&& %+1$%) l&=+%>$=,&$N &,1.f&>$[&$ >4 H.,.f&)4* )+ >$%D., g$0>4*&1+*+ Q?Rd "3 >.*$(+,.G+*+ ?3 $%1+%&1$ >4 >+*4*+ (&($,1+ S3 $%1+%&1$ (%$,4*.H$1.$0F b3 $,(&.=$1&$ $H&*.&)F 2$4G+ %$%+d 0>*+%.G$ H4*1&=*FN +>*$H=0&$ Q?R -$ Ip&.?>'A' 0+ $)$4(F >$ ^& >$4G+ O%+>@+,1+ $*+ >+O$*++&d 2+%@&>$%1%.G$ >4 &,04O&>&+,[F >+%+D%$*F @+%+1+D%. e D$G&*$%F ' $0.>&$GF $H+[+*&N @+%1&kN >%$>H+,1+ *$ H.D&*&G$%+$ >.*.$,+& @+%1+D%$*+ >+%@&>$*+ e 1%$1$H+,1 >4 @$0.)&*$1$1.$%+ >+%+D%$*+N $,1&+H+1&>+N $,1&@+%1&(&,.$0+ ^& $,1&&,O*$H$1.$%+ ' `+1$0+%> ?b H(N 6H+1&%$*r 5.%+>$,N :D4=%.O+, ?YY H( ;+0]&)%$1$%+$ l&=.(*&>+H&$ 8>>&)+,14* @$0>4*$% >+%+D%$* 5+%$=&$ 1%.HD.*&1&>F 5+%$=&$ $,1&>.$(4*$,1F •
• • • • •
77# •
• •
•
•
N@&*&*/ /A@?F C/ >'I*C@C ?)&/A*C@' J' .p>@C@' g +'/(>).?'A* G).'K'C*^ P"=2*/)+& 9'%/2*1'/ 2/+) e )4%+%+$ +01+ 0+@+%F >4 &%$)&+%+ $H=*F =+ G.,$ 1.%$>&>F $,1+%&.$%FN >F1%+ $HD&& 0A,&N >4 0+,G$[&+ )+ H.$%1+ &H&,+,1FN $0.>&$1F >4 1%$,0=&%$[&& =%.O4G+N (%+$[FN @F%0F14%&3 2$ 1%$1$H+,1 0+ %+>.H$,)F $)H&,&01%$%+$ >A1 H$& =%+>.>+ )+ ,&1%$[& 04D*&,(4$*r.%$*N #&$*(&, =+,1%4 %+)4>+%+$ )4%+%&& ^& $ +f1&,)+%&& &,O$%>14*4& ^& 1%&H&1+%+$ B, 4%(+,[F >F1%+ 0=&1$* =+,1%4 $ D+,+O&>&$ )+ 1%$1$H+,1 =%+>.>+ )+ %+@$0>4*$%&G$%+ ^& )+ =%+@+,&%+ $ +f1%$0&01.*+*.% @+,1%&>4*$%+ =.01&,O$%>1 H&.>$%)&> P"8+='/'("?2 /%*%"2*'2"3 2/+)3 ' $,(&,$ =+>1.%$*F >4 )&O+%&1+*+ +& O.%H$ >*&,&>+ ;4%+%+$ +0.O$(&$,$ )&, *(=&+<+& A28)*%(8%=2A'2" ' 1%$1$H+,14* >.,01F )&, &,]&D&1.%& )+ =.H=F )+ =%.1.,& Q-.0+> ?Y ' bY H(RN $,1&$>&)+ Q$,1&]&01$H&,&>+ l? )+ 1&=4* J$H.1&)&,$ bY H(N T&G$1&)&,$RN =%.j&,+1&>+ )+ 1&=4* #+1.>*.=%$H&) ;4%+%+$ +0.O$(&$,F )&, (8%=2A')(&( '"=(/?'%28( Q>4 @&%40 l+%=+0 0&H=*+fN >4 @&%40 >&1.H+($*&>RN +0.O$(&1$ >$,)&).G&>F e 1%$1$H+,1 +1&.*.(&> ;4%+%+$ 1.%$>&>$ )&, ,(*'/2*1')( ' 1%$1$H+,1 $,1&D&.1&> &,k+1$D&*N H&.>$%)&1+ ' $,1&D&.1&>+N )$% ^& $,1&$%&1H&>+N 1.,&>+ >$%)&$>+ =+,1%4 040[&,+%+$ &,.1%.=&0H4*4& =.G&1&@
?Zb
•
• •
• •
•
J*%9$%(9$%&'89+& ,+&9%"2* 928'7 2/+) e 0&H=1.H+*+ $0.>&$GF =+ *A,(F k4,(]& 1.%$>&> ^& O+D%$N 140+N $0=+>1 %$)&.*.(&> >$%$>1+%&01&> ' 1%$1$H+,1 $,1&>.$(4*$,1N $,1&D&.1&>+N $,1&=&%+1&>+ ;'8(/?'2 2/+)3 1( 2%*)3 e 1%$1$H+,1 >]&%4%(&>$* U(1'28)'"')2 e 1%$1$H+,1 >]&%4%(&>$*r $,1&D&.1&>+ QB, O4,>[&+ )+ >$4G$R 0&,)%.H4*4& H+)&$1&,$* ;4%+%+$ 9+8/+&%8/@(&()2&3 )+ =+%+1+ 1.%$>&> e >.01.>.,)%&1+*+N H&.G&1$ =+>1.%$*F ;4%+%+$ 1.%$>&>F *+($1F )+ 2"<'()2)(N 2)2/+*'&( 1( ,2"'/3 ' 0+ >$*H+$GF .)$1F >4 )+%4*$%+$ $,$H,+G+& =$>&+,14*4& ' 0+ %+>.H$,)F $,f&.*&1&>+ Q8,f&$%R 0$4 ).$% 0+)$1&@+ QP+)$1&@ 92N P+).>$*HR ;4%+%+$ )+ /%&%2"2 7(*)($*2&3 ' )&, 0>.*&.G$ *[email protected])+f1%. >.,>$@FN B, >$%+ )4%+%+$ $%+ >$%$>1+% )+ k4,(]& 1.%$>&> ^& &%$)&$GF =+ H+1$H+%4* ,+%@4*4& >$%+ + >.H=%&H$1 )+ 1.%0&4,+$ >.*.$,+& e 1%$1$H+,1 D$*,+.O&G&.1+%$=&>N $,1&&,O*$H$1.$%+ Q:D4=%.O+,N 2.f&D&R ^& +@+,14$* )+>.,1%$>14%$,1+ H40>4*$%+ Q#&).>$*H "ZY H(R3
777#
N@&*&*/ /K+)H'>/CF W> H*+'A'>/ +* "/H'C'* #+)&>4* )+ O$H&*&+ 1%+D4&+ 0F )&01&,(F B,1%+ >$%$>1+%4* 04D&+>1&@ ^& >+* .D&+>1&@ $* )4%+%&& $D).H&,$*+N $k41A,)4'0+ )+ +f$H+,4* O&G&>N^& +@+,14$* )+ +f$H+,+*+ )+ *$D.%$1.% ^& +f=*.%F%&*+ &H$(&01&>+3 g.H [&,+ >.,1 )+ d ;)A/C'Q/&*^ l&=.>.,)%4* )%+=1
+=&($01%4
l&=.>.,)%4* 01$,(
J*$,> )%+=1
H+G.($01%4
J*$,> 01A,(
J.0F &*&$>F )%+$=1F
]&=.($01%4
J.0F &*&$>F 01$,(F
7>?*>.'?/?*^ )$>F &,1+,0&1$1+$ )4%+%&& +01+ O.$%1+ H$%+N $14,>& 1%+D4&+ 0F *4FH B, >$*>4* 4,$ )&, 4%HF1.$%+*+ =.0&D&*&1F[& )+ )&$(,.01&>d ""3 &,O$%>1 H+G+,1+%&>N $0.>&$GF +,G&H+ )+ >&1.*&GF O.$%1+ >%+0>41+ ' 5L/N -;l "?3 .>*4G&+ &,1+01&,$*FN $0.>&$GF .=%&%+$ 1%$,G&14*4& "S3 >%&GF )+ 4*>+%N >4 >.H=*&>$[&& ' ]+H.%$(&+N =+%O.%$[&+N &%$)&$GF )+ .D&>+& B, >.*.$,$ @+%1+D%$*F3 7&/+'*&*^ +01+ >$%$>1+%&01&>F O&+>F%4& 1&= )+ >.*&>F ! 4*>+% e &%$)&$GF )&, +=&($01%4 )+ .D&>+& B, 0=$1+ 1%$,0O&f&$,1N B, >.*.$,$ @+%1+D%$*FN H$& $*+0 $14,>& >A,) +01+ >.H=*&>$1 >4 =+,+1%$[&+q &%$)&$GF B, B,1%+( $D).H+,4* >A,) +01+ >.H=*&>$1 >4 =+%O.%$[&+ 0$4 ]+H.%$(&+ )&(+01&@F !
!
>.*&>$ D&*&$%F e &%$)&$GF O&+ B, >*$@&>4*F ].H.*$1+%$*FN B, .H.=*$1 0$4 >]$&% D$%F )$>F +01+ &H=*&>$1 ^& %+O*4f4* D&*&. )4.)+,. =$,>%+$1&>N >$ B, >$G4* 4,4& B,>$*>4* >$%+ D*.>]+$GF >$,$*4* >&01&> >.*&>$ %+,$*F e $&>& )&$(,.01&>4* +01+ 0&H=*4 B,1%4>A1 +01+ . )4%+%+ 0=+>&O&>F =%&, O$=14* >F ,4 D+,+O&>&$GF )+ . =.G&[&+ $,1$*(&>FN =$>&+,14* +01+ $(&1$1N >4 &%$)&+%+ *.HD$%FN
?ZZ
>F1%+ G.,$ &,(]&,$*F ^& >.D.%A,) B, .%($,+*+ (+,&1$*+ )$>F 0'$ H.D&*&G$1 >$*>4*4* >$%+ )+1+%H&,F >.*&>$3 ! P$%>&,$ +f1%$41+%&,F3 !'HG?)H* /.)A'/?* +@&*&''^ ! $,f&+1$1+ ! O+D%F ! (%+$[FN @F%0F14%&3 4>/C'Q* +* C/K)&/?)&^ !
]+H.*+4>.(%$H$ >.H=*+1F >4 O.%H4*$ *+4>.>&1$%F (*&>+H&+ >%+0>41F QB, =$,>%+$1&1FN =+%&1.,&1FR >.*+01+%.* 1.1$* ^& O%$>[&$ -;- >%+0>41+N 1%&(*&>+%&)+ >%+0>41+ ' B, )&0*&=&)+H&&*+ >$%+ =.1 01$ *$ D$G$ 4,+& =$,>%+$1&1+ $>41+ ! 5L/N 5L9 >%+0>41+ )+ Z' "Y .%&N -;l 0+%&> >%+0>41N LL5 >%+0>41F )+ ?'b .%& B, 0&,)%.H4* )+ >&1.*&GF ]+=$1&>F $0.>&$1 ]+=$1&1+*.% >%.,&>+ $>1&@+ 0$4 1.f&>+ >$%+ =.1 )$ )&01+,0&+ $D).H&,$*$ ^& )4%+%+ B, ]&=.>.,)%4* )%+=1 ! 9%.1+&,$ 2 %+$>1&@F >%+0>41F e >$ %+$>1$,1 )+ O$GF $>41FN )$% ^& >%.,&>F B, $>+*$^& 1&H=N >$%+ $%+ . @$*.$%+ =%+)&>1&@F H$& H$%+ )+>$1 gPlN B, 0=+>&$* =+ @$*.%& B,1%+ S'"Y H(r)* 0$4 =+01+N $14,>& >$,) ,+ %+O+%&H *$ &,O*$H$[&& >%.,&>+ 0+@+%+N )+ +1&.*.(&+ &,O+>[&.$0F3 0UGC)&F&' 'H/('.?'A*^ 6>.(%$O&+ ]+=$1.'D&*&$%F ^& %+,$*F D&*$1+%$*F 25 >4 ^& OF%F 04D01$,[$ )+ >.,1%$01N 7#T e =+,1%4 $=%+>&+%+$ O.%H$[&4,&*.% 14H.%$*+ ! !
• •
B,*.>4&1.$%+ )+ 0=$[&4 )+ *$ ,&@+*4* $D).H+,4*4&N 0$4 $ ,.)4*&*.% )+ >&%.GF ]+=$1&>FN >]&014%&*.% *&>]&)&+,+N ]+H$1.$H+*.%N ]+H$,(&.$H+*.%3 P>&,1&(%$O&+ ]+=$1&>FN 0=*+,&>FN %+,$*F 8%1+%&.(%$O&+ %+,$*F 8,(&.(%$O&+N $.%1.(%$O&+3 9)>.@C? ('>*A)C)('A^ =+,1%4 $ +f=*.%$ )4%+%+$ ]&=.($01%&>$rO.0+ &*&$>+ =+,1%4 . +@+,14$*F 0$%>&,F +f1%$41+%&,F3 ;+ $0+H+,+$ 0+ =.$1+ =4,+ )&$(,.01&> )+ 0$%>&,$N O&D%.H 41+%&,N >]&01 )+ .@$% 0&H=*4r 1.%0&.,$1N >$,>+% )+ >.* 41+%&, Q9$=$,&>.*$4R 9)>.@C? AD'&@&('A/C^ =+,1%4 )4%+%+$ )+ O.0$ &*&$>F )%+$=1F ' $=+,)&>&1$q )4%+%+$ $D).H&,$*F )&O4GF >4 H$,+@%$ `*4HD+%( =.G&1&@F Q)+>.H=%+0&$ D%40>F $ =+%+1+*4& $D).H&,$* =%.@.$>F )4%+%+ 0+H, )+ &%&1$[&+ =+%&1.,+$*FR3 • • •
N@&*&*/ /A@?/ C/ >'I*C@C D'G)A)>+&@C@' .?p>( g +'/(>).?'A* G).'K'C* ]C N=(/?'+"' 2&( 8,&'"(' $3 0=*+,&>F D3 %4=14%$ &,O$%>1 0=*+,&> >3 $D>+0 0=*+,&> ?3 Z%2&2 +&/(*%283 ' 4*>+% ($01%&> ^& )4.)+,$* ^& )&0=+=0&$ ,.,4*>+%.$0F S3 g.*@4*40 ($01%&> $>41 Q)&$D+1&>&N $*>..*&>&R b3 L/1(), B(1(,%> e )4%+%+ >4 &%$)&+%+ B, .H.=*$1N 0&,)%.H )&0=+=1&> D&*&$%N O+D%FN 4%&,& ]&=.>%.H+N 0>$4,+ $>.*&>+ Q&*+40 D&*&$%R ' 1%$1$H+,1 >4 $,1&D&.1&>+ )+ 0=+>1%4 *$%(
?Z_
Q8H.f&>&*&,$ ?(rG&N a G&*+RN 2+O$*.0=.%&,+ )+ (+,+%$[&$ ?'S Qc&,,$1 ZYY H( )+ ? .%&rG&N Z G&*+RN $,1&0=$01&>+ ' T.P=$ &,k+>1$D&* "'?'S O&.*+r?b .%+N +@+,14$* #+1.>*.=%$H&) =+,1%4 >.HD$1+%+$ @F%0F14%&*.%3 aC L%&(/'8)')2 2/+)3 _3 O2"/*(2)')2 2/+)3 e >$ 1%$1$H+,1 B, =%&H4* %A,) $k4,$%+ ' +01+ =%&H4* H&k*.> 1+%$=+41&> )+ $ )&H&,4$ )4%+%+$N >$%+ 0+ )$1.%+$GF ,+>%.G+& ' $41.*&G+& =$%+,>]&H4*4& =$,>%+$1&>3 a3 N$/(8(&( 8+$=*("'/( 8)0"A' ' $0.>&$GF )4%+%&& ^& 04(]&[N %+O*4f ($01%. +0.O$(&$, e 1%$1$H+,1 >]&%4%(&>$* mC 8O+>[&4,&*+ /%&%"+&+' 2.*.,4* &%&1$D&* ' )4%+%+ 04D O.%H$ )+ )&01+,0&+ )4%+%.$0FN O*$14*+,[FN +H&0&+ )+ 0>$4,+ H.& ^& H4>40 ;4@+%1&>4*&1$ `.*&*+ >%.,&>+ &,O*$H$1.%&& &,1+01&,$*+ ' )4%+%+ )&O4GF ]&=.($01%&>F 0$4 )+ O*$,> 01A,(r)%+=1N $0.>&$1F >4 +H&0&+ )+ 0>$4,+ H4*1&=*+ H4>.'0$,(4&,.*+,1+ Q%+>1.>.*&1$ 4*>+%.]+H.%$(&>FR 0$4 >.,01&=$[&+ >4 +H&0&+ )+ H4>40 Q%+>1&1$ 4*>+%.']+H.%$(&>FR e )4%+%+$ $&>& @$ $@+$ ,+@.&+ )+ 1%$1$H+,1 O&G&.=$1.*.(&> $,1&&,O*$H$1.% >4 $>&) Z $H&,. 0$*&>}*&>r 04*O$0$*$G&,$ 04D O.%H$ )+ 1$D*+1+r>*&0H+r04=.G&1.$%+ B, O4,>[&+ )+ *.>$*&G$%+$ *+G&4,&*.% ' 9+,1$0$ ZYYr"YYY H(3 X3 8O+>[&4,&*+ %+,$*+ Q?Rd 8D>+04* =+%&,+O%+1&> 8D>+04* >.%1&>$* %+,$* -&1&$G$ %+,$*F e 4%&>.G4%&>+N $,1&D&.1&>+ >.,O.%H $,1&D&.(%$H+&N $,1&0=$01&>+ 2.*&>$ %+,$*F e $,1&0=$01&>+ &,k+>1$D&*N $,1&&,O*$H$1.%&&3 •
• •
• • • •
N@&*&*/ /A@?/ g +*"'>'Y'* k' A/&/A?*&'.?'A' (*>*&/C* ;4%+%+$ $>41F =%+04=4,+ . &,1+%@+,[&+ %$=&)FN >4 $)H&,&01%$%+$ (%4=+& )+ H+)&>$H+,1 >.%+0=4,GF1.$%+ *.>$*&GF%&& )4%+%&&3 C, O4,>[&+ )+ 1&=4* )+ )4%+%+d >+O$*&>F e@$0.)&*$1$1.$%+ >+%+D%$*+ Q=+,1%4 04=.G&[&$ )+ H&(%+,FRN 04*O$1 )+ #( Q$>>&)+,1 @$0>4*$% >+%+D%$*R 0$4 1%$1$H+,1 $,1&&,O*$H$1.% ' $,1&D&.1&> =+,1%4 040=&>&4,+$ )+ @&0>+%$*F =%.O4,)FN $>41F 0$4 >%.,&>F - ;4%+%+$ $>41F %+=%+G&,1F 0&H=1.H4* =+,1%4 >$%+ 0+ =%+G&,1F *$ >$H+%$ )+ ($%)F =+01+ ?rS )&,1%+ =$>&+,[&q - 9%+@$*+,[$ )4%+%&& >%+^1+ .)$1F >4 @A%01FN $k4,(A,) *$ =+01+ _Y )+ $,& 0F O&+ >4=%&,0F B,1%+ _Y' \Y{ – 7>?&)+@A*&* ;4%+%+$ $>41F +01+ 4,4* )&, >+*+ H$& $*$%H$,1+ ^& O%+>@+,1+ 0&H=1.H+ >+ =.1 )+1+%H&,$ =$>&+,14* 0F 0+ $)%+0+G+ H+)&>4*4& )+ O$H&*&+ 0$4 >$H+%+& )+ ($%)F3 6$ )+1+%H&,F =$>&+,14* 0F 0+ =%+G&,1+ *$ H+)&> B,1%'4, 1&H= 0>4%1 )+ *$ $=$%&[&+N $@A,) )%+=1 >$4GF 4,4* )&, 4%HF1.$%+*+ H.1&@+d
?Za
"3 2$%$>1+%4* 0+@+%N &,1+,0N >$%+ ,4 =.$1+ O& $H+*&.%$1 =%&, H+1.)+*+ .D&^,4&1+ Q>F*)4%$ ^& =.G&[&& $,1$*(&>+N $,$*(+1&>+ 4^.$%+N %+=$40 *$ =$1R3 6f+H=*+d >.*&>F D&*&$%FN >.*&>F %+,$*FN )4%+%+$ 0>&$1&>Fq ?3 ;4%+%+$ 1&,)+ 0$ O&+ >.,1&,4F 0$4 +@.*4+$GF B, >%&G+ )&, >+ B, >+ H$& )+0+ B, =%&H$ G&N >++$ >+ &H=4,+ $)%+0$%+$ *$ >$D&,+14* H+)&>$*N H$& $*+0 )$>F HF04%&*+ .D&I,4&1+ ,4 $4 )$1 %+G4*1$1+3 6f+H=*+d )&0H+,.%++$N >.*&>$ %+,$*FN $,(&,$ =+>1.%$*F &,01$D&*Fq S3 601+ . )4%+%+ ,+%+0&HE&1F =B,F $>4H B, >+ =%&@+I1+ &,1+,0&1$1+$ I&r0$4 *.>$*&G$%+$ +& e +f+H=*4 e . )4%+%+ 1.%$>&>F $,1+%&.$%F $=F%41F B, 01$%+ )+ %+=$40 *$ 4, @A%01,&>N )&$D+1&> e >+ )+1+%H&,F I& 01$%+ )+ $,f&+1$1+ e $,(&,F =+>1.%$*F )+ ,[email protected] &,01$D&*Fr &,O$%>1 H&.>$%)&>q b3 ;4%+%+$ $%+ . $%&+ )+ B,1&,)+%+ $*$%H$,1F e >4=%&,)+%+$ B,1%+(4*4& $D).H+,r >+O$*++ =4*0$1&*F >4 ]+H&>%$,&+ r1.$1F O$E$ $,1+%&.$%F $ 1.%$>+*4&N k4,(]& 1.%$>&> >+ BH=&+)&>F %+0=&%$E&$N 1%$,0O&f&$,1q Z3 P&H=1.H+ $0.>&$1+ >$%+ )$4 4, >$%$>1+% $>41N )+ (%$@&1$1+N 04=*&H+,1$% )4%+%&& ' +f+H=*+d )4%+%+$ 1.%$>&>F )+ &,1+,0&1$1+ H$%+N >4 &%$)&+%+ =+ 1.$1F $%&$ 1.%$>&>F $,1+%&.$%FN >$%+ $0.>&$GF 1%$,0=&%$E&& =%.O4G+ I& 01$%+ )+ $,f&+1$1+r )4%+%+$ $D).H&,$*F (+,+%$*&G$1FN $0.>&$1F >4 B,1%+%4=+%+$ 1%$,G&14*4& I& O+D%F Q&,O$%>1 H+G+,1+%&>R 0$4 $0.>&$1F >4 O+D%F I& )&$%++ 0$,(4&,.*+,1F Q)&G+,1+%&+N H$*$%&+Rq _3 8,1+>+)+,1+ O$H&*&$*+ B,(%&k.%F1.$%+ e >$ B, >$G4* =$1.*.(&+& >$%)&$>+ ' &,O$%>1 H&.>$%)&> 0$4 &,O$%>1 H+G+,1+%&> B, O$H&*&+3 2$ 4, %+G4H$1 41&* B, =%$>1&>$ H+)&>4*4& )+ O$H&*&+d ;4%+%+$ $>41$ +01+ >)A'A*G?'IF N@&/?/^ Q'C* g .FG?FHp>' 6/>'"*.?F&'^ A/&+')I/.A@C/&*d l58N 1$]&>$%)&+ &*.G'&/?)&''d ]&=+%@+,1&*$[&+ (/.?&)'>?*.?'>/C*d ]&=+%0+>%+[&+ ($01%&>FN &*+40 =$%$*&1&> *>+)A&'>*d >.%1&G.* šN >$1+>.*$H&,+ šN (*4>$(., š D*H/?)C)('A*d >%+^1+%+$ $(%+(F%&& =*$>]+1$%+ "@>AS'/ 'H@>Fd *+4>.>&1.GF >4 *&HO.=+,&+3 • • • • • •
5&/?/H*>?@C +@&*&'' /A@?* ;4%+%+$ $%+ $%+ 1%+& +1$=+d +1$=$ 1$*$H.'>.%1&>$*F +1$=$ H+)4*$%F +1$=$ =+%&O+%&>F3 • • •
7+>+=1.%&& )4%+%&& 04,1d "3 1+%H&,$[&&*+ ,+%@.$0+ *&D+%+ 0&14$1+d 04=+%O&>&$*N B, )+%H. ' +=&)+%HN )$% ^& B, 01%4>14%&*+ =%.O4,)+ =%.O4,) e B, H4^>]&N 1+,).$,+N $%1&>4*$[&&N =+%+[&& @&0>+%+*.%N 04D+=&1+*&$*N 14,&>$ H+)&+ $ @$0+*.% ^& &,1%$$)@+,1&>+$* QSR3 • •
?Z\
0?/G/ G*&'"*&'AF $ )4%+%&& &,>*4)+ ^& . *+G&4,+ 1&04*$%FN =%&, &,1+%@+,[&$ 4,.% 01&H4*& H+>$,&>&N >]&H&>& 0$4 1+%H&>& QSR3 6f&01F 1%+& 1&=4%& )+ H+)&>$H+,1+ >$%+ $>[&.,+$GF )&O+%&1N )$% >$%+ 04,1 e >$ ^& B, H$1+H$1&>F ' K,+>+0$%+ ^& 04O&>&+,1+M ^& >$%+ $)H&,&01%$1+ B, =40+4 )4%+%.0N $>[&.,+$G$ 0&,+%(&>N %+)4>A,) &,O*$H$[&$' 0=$0H4* ' )4%+%+$ d $,+01+G&>+*+ *.>$*+ ' >$%+ $>[&.,+$G$ =+ 01&H4*&& ,.>&>+=1&@& ^& =+ =%.1+$G+*+ +*&D+%$1+ )+ *+4>.>&1+*+ H.D&*&G$1+ B, &,O+>[&+ $,1&]&01$H&,&>+*+ e $>[&.,+$GF =+ D%$)&j&,&,$ ^& ]&01$H&,$ +*&D+%$1F )+ H$01.>&1+*+ 8:TPr >.%1&G.,4* >$%+ $>[&.,+$GF $04=%$ >&1.j&,+*.% +*&D+%$1+ )&, H$>%.O$(3 5%$0+4* )4%+%&& B,0F =.$1+ 01%$D$1+ ^& A/C*/ ?&'(*H'>) ?/C/H'AFN $^$ >$ B, >$G4* )4%+%&& H$f&*. O$>&$*+N H.1&@ =+,1%4 >$%+ 1%$1$H+,14* $>+01+&$ @$ >.,01$ )&, $0.>&+%+$ B,1%+ 8:TP Q1&= &D4=%.O+,N %.O+>.f&DR ^& $,+01+G&> *.>$* 01.H$1.*.(&>d H+=&@$01+0&,N 4D&01+0&,N 0>$,).,+01 ::N :::3 5%$1$H+,14* $%+ ).$% @$*.$%+ .%&+,1$1&@F =+,1%4 H+)&>4* )+ O$H&*&+ ' B, $>+01 >$G &,)&>$[&$ $=$%[&,+ H+)&>4*4& 01.H$1.*.(3 •
• •
9/&/A?*&'.?'A'C* +@&*&'' A&)>'A* "3 2$%$>1+%4* )4%+%&& ,4 B,(%&k.%+$GF =%&, $%&$ &%$)&+%&& I& *.>$*&G$%+N >4=%&,GA,) )+ +f+H=*4 ).$% . $%1&>4*$E&+ ' >.1N (+,4,>]&N *.HD+ ?3 ;4%+%+$ $%+ . &,1+,0&1$1+ H&>F 0$4 H.)+%$1FN >$%+ >+)+$GF )+ .D&>+& *$ HF04%&*+ .D&I,4&1+ '%+=$40N >F*)4%FN =.G&E&& $,1$*(&>+ 0$4 $,1$*(&>+ 4I.$%+q S3 ;4%+%+$ ,4 0+ B,0.E+I1+ )+ 0&H=1.H+ $*$%H$,1+ e O+D%FN 1%$,0=&%$E&&N $,f&+1$1+q b3 ;4%$1$ )4%+%&& +01+ )+ .D&>+& *&H&1$1F B, 1&H=N I& +01+ $H+*&.%$1F =%&, H+1.)+ 0&H=*+q )4%+%+$ >%.,&>F )+ &,1+,0&1$1+ >.,01$,1F =.$1+ O& )+ .D&>+& 1.*+%$1F OF%F $ ,+>+0&1$ =%+G+,E$ *$ H+)&>3 Z3 -&=0$ $,1+>+)+,1+*.% O$H&*&$*+ )+ +@+,&H+,1+ H$k.%+ >+ &,>*4) )4%+%+ $>41F3 2$%$>1+%&01&>+ (+,+%$*+ $*+ )4%+%&&N ,+>+0$%+ =+,1%4 $ =41+$ +O+>14$ )&$(,.01&>4* =.G&1&@ ^& )&O+%+,[&$* $* )4%+%&& 04,1d "3 -.>$*&G$%+$ I& &%$)&+%+$ )4%+%&&d +f+H=*4 )4%+%+$ 1.%$>&>F $,1+%&.$%F $0.>&$1F >4 $,f&+1$1+ I& &%$)&$1F =+ 1.$1F G.,$ 1.%$>&>F 0+H,&O&>F >+* H$& =%.D$D&* $,(&,$ =+>1.%$*Fq )4%+%+$ =$%$01+%,$*F &,)&>F H$& =%.D$D&* . >.01.>.,)%&1Fq )4%+%+$ %+1%.01+%,$*F >4 )4%+%+ *$1+%.>+%@&>$*F 01$,(F I& $ H$%(&,&& 1%$=+G4*4& &,)&>F . =+%&>$%)&1F $>41F Q?R3 ?3 2$%$>1+%4* )4%+%&& d *4A,) >$ *.>$*&G$%+ )4%+%+$ 1.%$>&>F e $,1+%&.$%F %+1%.01+%,$*F >$%+ $%+ >$%$>1+% )+ $=F0$%+ 0$4 =%+0&4,+ &,)&>F /2*1'%,2)'( '8/@(9'/3N )$>F *$ $>+01+$ 0+ $)$4(F I& %+(4%(&1$E&& $>&)+ 04D O.%HF )+ =&%.G&0N B, 0=+>&$* *$ 1%+>+%+$ B, =.G&E&$ >*&,.01$1&>FN $14,>& @.%D&H )+ 4, *(=&+< A28)*%(8%=2A'2"q )4%+%+$ 1.%$>&>F 04D O.%HF )+ k4,(]&N >+ $=$%+ H$& $*+0 B, H.H+,14* &,0=&%4*4&N 04(+%+$GF . ,&(+*')3q )4%+%+$ =$%$01+%,$*F >$%+ ,4 +01+ O.$%1+ &,1+,0F I& +01+ )+>*$%$1F B, 0=+>&$* *$ =$*=$%+ +01+ )$1.%$1F >+* H$& =%.D$D&* 4,+& /%8)%/%"1*')(q)4%+%+$ 1.%$>&>F >$%+ H+%(+ =+ H+1$H+% )&, 0=$1+ =B,F B, O$EF *$ ,&@+*4* ]+H&1.%$>+*4& &=0&*$1+%$* +01+ . "(7*')3 '")(*/%8)2&3 0$4 c.,$ c.01+% )$>F $0.>&$GF I& +%4=E&+ @+G&>4*.$0F =%4%&(&,.$0FN &$% )4%+%+$ 1.%$>&>F $,1+%&.$%F +f1&,0FN >$%+ $%+ 4, >$%$>1+% =%.O4,)N 0OAI&+1.%N +01+ >+* H$& =%.D$D&* )$1.%$1+ 4,+& 1'8(/6'' 2/+)( 1( 2%*)33 C, >+ =%&@+I1+ )4%+%+$ >4 *.>$*&G$%+
?ZX
$D).H&,$*F e )4%+%+$ 04%)FN >$ . k+,F =+%H$,+,1F *.>$*&G$1F B, +=&($01%4N %&1H$1F )+ &,(+01&$ $*&H+,1$%F I& (+,+%$1F )+ 0+,G$E&$ )+ O.$H+ &,)&>F $%2&2 +&/(*%283q )4%+%+$ 04%)F *.>$*&G$1F B, ]&=.>.,)%4* )%+=1N >4 >$%$>1+% )+ 1%$>E&4,+ I& $0.>&$1F >4 0&,)%.H )&0=+=1&> D&*&$% &,)&>F )+ .D&>+& 1'8F'"(4'( $'&'2*3 @',%)%"3N $0.>&$1F 0$4 ,4 >4 )&0H.%O&0H @+G&>4*$%q )4%+%+$ =+%&.HD&*&>$*F >4 >$%$>1+% H.)+%$1 +01+ $0.>&$1F '8/@(9'(' 9(4(")(*'/(N &$% >+$ >.*&>$1&@F =+%&.HD&*&>$*FN )$% $1%.>+N @&.*+,1F >4 +@.*4E&+ B, >%&G+ I& $*1+%,A,) >4 =+%&.$)+ )+ $>$*H&+ &,)&>F . %/&+4'( '")(8)'"2&33 S3 :,1+,0&1$1+$ )4%+%&& d &,1+,0&1$1+$ )4%+%&& 0+ =.$1+ $=%+>&$ B, O4,>E&+ )+ ,+>+0&1$1+$ $)H&,&01%F%&& )+ $,$*(+1&>+ I& B, O4,>E&+ )+ $O+>1$%+$ >$=$>&1FE&& )+ >.,>+,1%$%+ I& )+ H4,>FN B,d 1+*(*( +-%2*3.: $14,>& >A,) ,4 +01+ $O+>1$1F >$=$>&1$1+$ )+ H4,>F I& ,4 +01+ ,+>+0$%F $)H&,&01%$%+$ )+ $,$*(+1&>+q 1+*(*( 9%1(*2)3N' $14,>& >A,) +01+ &,1+%O+%$1F >$=$>&1$1+$ )+ >.,>+,1%$%+ I& +01+ ,+>+0$%F $)H&,&01%$%+$ )+ $,$*(+1&>+ .%$*+ e )4%+%+$ $%1&>4*$%FN )4%+%+$ )+,1$%F =+%0&01+,1FN $H&()$*&1$N+1>q )4%+%+$ 0+@+%F @$ ,+>+0&1$ $)H&,&01%$%+$ )+ $,$*(+1&>+ &,k+>1$D&*+ I& @$ $O+>1$ >$=$>&1$1+ )+ H4,>F $ =$>&+,14*4& e )4%+%+$ *.HD.0>&$1&>F )&, ]+%,&$ )+ )&0>q )4%+%+$ O.$%1+ 0+@+%F +f>*4)+ =.0&D&*&1$1+$ )+ $'I& )+0OFI4%$ $>1&@&1$1+$ I& + =.0&D&* 0F ,4 %F0=4,)F *$ $,$*(+G&$ =$%+,1+%$*F ' &,O$%>14* H&.>$%)&>N >.*&>$ D&*&$%FN >.*&>$ %+,$*FN 4*>+%4* =+%O.%$1N )&0+>E&$ )+ $.%1FN +1>3 b3 ;4%$1$ )4%+%&& d >4 >A1 )4%$1$ 0+ =%+*4,(+I1+N &$% )4%+%+$ ,4 %F0=4,)+ *$ 1%$1$H+,1+*+ .D&I,4&1+N @$ O& ,+>+0$%F )+=*$0$%+$ *$ >$H+%$ )+ ($%)F Z3 2&%>4H01$,E+ )+ $=$%&E&+d ,+ &,1+%+0+$GF >+ +@+,&H+,1+ $4 H$%>$1 )+D414* )4%+%&& ' >$ +f+H=*4 +O.%14* O&G&> $,1+%&.% 0$4 . H$0F >.=&.$0F =.1 =%+>+)+ '"=2*/)+& 9'%/2*1'/q . H$0F >.=&.$0F $0.>&$1F >.,04H4*4& +f>+0&@ )+ $*>..* =.1 &,)4>+ . >%&GF )+ ,2"/*(2)')3 2/+)3N >$ I& >.*&>$ D&*&$%Fq %&)&>$%+$ )+ (%+41FE& =.$1+ &,)4>+ . >%&GF )+ *.HD.0>&$1&>FN . >.*&>$ %+,$*F )$>$ &,1+%@&,+ I& )+0]&)%$1$%+$ =$>&+,14*4&N+1>3 _3 J$>1.%&& =%+>&=&1$,E& $& )4%+%&&d >$=$>&1$1+$ )+ $ )+1+%H&,$ 0$4 &,1+,0&O&>$ . )4%+%+ >4 *.>$*&G$%+ 0=+>&O&>F =.$1+ .%&+,1$ $04=%$ )&$(,.01&>4*4& e )4%+%+$ =%+>.%)&$*FN &,1+,0&O&>$1F B, &,0=&%4* =%.O4,) $1%$(+ $1+,E&$ $04=%$ $O+>1F%&& =*+4%$*+ =*+4%&1FN =+%&>$%)&1F ^& O$>+ B, $>+*$I& 1&H= )&$(,.01&>4* )&O+%+,E&$* >4 &,O$%>14* H&.>$%)&>N )&0+>E&$ )+ $.%1F 0$4 %+O*4f4* +0.O$(&$,q )4%+%+$ %+1%.01+%,$*F $>>+,14$1F )+ &,(+01&$ )+ $*&H+,1+ $>&)+ 0$4 O4H$1N 0$4 )+ =.G&E&$ >*&,.01$1&>F &,)&>F >+%1 %+O*4f4* +0.O$(&$, I& &,O&%HF . $,(&,F =+>1.%$*Fr&,O$%>1 H&.>$%)&>3 a3 2&%>4H01$,E+*+ )+ )&0=$%&E&+ $*+ )4%+%&&d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e 1+014* )&$(,.01&> I& 1+%$=+41&>d ,&1%.(*&>+%&,$ $)H&,&01%$1F 04D*&,(4$* >$%+ B,*F14%F >.H=*+1 )4%+%+$ >.,01&14&+ 4, 1+01 )&$(,.01&> )+ &0>]+H&+N )$% I& 1+%$=+41&>q =%+),&0.,4* +01+ 4, 1+01 1+%$=+41&> I& )&$(,.01&> B, 1%$1$H+,14*
?_Y
=+%&>$%)&1+& )$% I& $* $%1+%&1+& 1+H=.%$*+q D*.>$,1+*+ >$,$*+*.% )+ >$*>&4 04,1 >+*+ H$& &,)&>$1+ =+,1%4 B,*F14%$%+$ )4%+%&& )&, $,(&,$ @$0.0=$01&>F 9%&,1GH+1$*N &$% )4%+%+$ +=&($01%&>F )&, 4*>+% +01+ >+%1 $H+*&.%$1F )+ >F1%+ $,1&$>&)+N 0$4 &,]&D&1.%&& )+ =.H=F )+ =%.1.,&3 X3 P&H=1.H+*+ >+ =.1 O& $0.>&$1+ )4%+%&& .O+%F &,)&>$E&& $04=%$ )&0O4,>E&+& )+ .%($, >$%+ =%.@.$>F I& +=&0.)4* )4%+%.03 ;+ +f+H=*4N 4, k4,(]& 1.%$>&> >$%+ $0.>&$GF O+D%FN 140+ I& ]+H.=1&G&+ 04(+%+$GF )&$(,.01&>4* )+ &,O$%>1 =4*H.,$% 0$4 =,+4H.,&+ >4 •*+D0&+**$q )4%+%+$ +=&($01%&>F $0.>&$1F >4 ]+H$1+H+GF I& H+*+,F 04(+%+$GF . ]+H.%$(&+ )&(+01&@F 04=+%&.$%Fq . )4%+%+ >.*&>$1&@F *.HD$%F &%$)&$1F B, .%($,+*+ (+,&1$*+N $0.>&$1F >4 ]+H$14%&+ 04(+%+$GF *&1&$GF %+,$*Fq )4%+%+$ )&, ]&=.>.,)%4* )%+=1 $0.>&$1F >4 0>$4,+ $>.*&>+N 4%&,& ]&=+%>%.H+ I& &>1+% &,)&>F 4, &>1+% H+>$,&> )+1+%H&,$1 =%.D$D&* )+ 4, >$*>4* D&*&$%r (]+H )+ =$%$G&1& D&*&$%& >$%+ D*.>]+$GF >.*+).>4*3 N@&*&*/ A&)>'AF g +'/(>).?'A +'"*&*>S'/C J' ?&/?/H*>? C, =%&H4* %A,) @.H [&,+ >.,1 )+ /"*AS'@>'C* /K+)H'>/C* >$%+ =.1 )$ )4%+%& 04%)+N >.*&>$1&@+ 0$4 >.,1&,4&3 ;4%+%& >.*&>$1&@+ =.1 )$ 1.$1+ $O+>[&4,&*+ )+k$ H+,[&.,$1+ *$ )4%+%+$ $>41Fd 4*>+%4* ($01%&> >.H=*&>$1 0$4 ,+>.H=*&>$1 ' @.H $=*&>$ 1+014* )&$(,.01&> ^& 1+%$=+41&> $* $)H&,&01%F%&& )+ $,1&$>&)+N >$%+ @$ >$*H$ )4%+%+$ )&, 4*>+%4* )4.)+,$* Q*$ O+* >$ ^& $*&H+,1+*+ 40>$1+ ]&)%.>$%D.,$1+ OF%F G$]F% ' =A&,+ 40>$1FN @+>]+ )+ " G&N D&0>4&[& 0&H=*&N >.@%&(& 40>$[&R >.*+>&01&1$ >%.,&>F $>41&G$1F ' $&>& n)+0>F%>$%+$ @+G&>&& D&*&$%+M >4 >.*+%+1&>+ ' )+ 1&=4* `&*&>].*N "' S>$=04*+rG& )4=F H+0+N *$ $=%.f&H$1&@ "Z H&,41+ =.1 >$*H$ >.*&>&*+ D&*&$%+ )+ $H=*&14)&,+ H.)+%$1Fq )$>F )4%+%+$ Q0+,G$[&$ )+ 1%$>[&4,+ H$& +f$>1 )&, ]&=.>.,)%4* )%+=1R ,4 >+)+$GFN =%.D$D&* +f&01F . >$4GF H$& (%$@F >+ D*.>]+$GF 0>4%(+%+$ D&*+& B, >.*+).> ' @.H $)H&,&01%$ B, =*40 $,1&&,O*$H$1.%&& e $,1&0=$01&>+ >+ $>[&.,+$G$ =+ H40>4*$14%$ ,+1+)F @&0>+%$*F ^& $1+,4+$GF 0=$0H4* ' )+>& )4%+%+$' T.P=$ &,k+>1$D&* "' ? O&.*+ &3H3N T.P=$ 1$D*+1+ "'?' H$f&H b r?b .%+N ^& 0+ $)$4(F )+ $0+H+,+$ $,1&D&.1&>+ >4 0=+>1%4 *$%(N >4 $>[&4,+ =+ L%$H ,+($1&@& >+ 0+ )+G@.*1F B, H+)&4 $,$+%.D ' 8H.f&>&*&,$ >4 $>&) >*$@4*$,&>' 8H.j0&j*$@ ? (rG&N a G&*+ &,k+>1$D&* Q.%$* 0+ =.$1+ $)H&,&01%$ ).$% )$>F ,4 +f&01F 0+,G$[&+ )+ @.HFr@F%0F14%FR 2.*&>& $D).H&,$*+ ' $&>& )&$(,.01&>4* =.$1+ @$%&$ )+ *$ >.*., &%&1$D&* *$ D.*&*+ >%.,&>+ &,O*$H$1.%&& &,1+01&,$*+N 4,)+ 0+ $0.>&$GF O*$14*+,[+& +f>+0&@+ ' )4%+%+ )4=F +H&0&$ )+ H$1+%&& O+>$*+N $H+01+>$1+ >4 +H&0&+ )+ H4>40 ^& 0A,(+ =%.$0=F13 7+(&H4* $*&H+,1$% ' OF%F O%4>1+ ^& *+(4H+ =%.$0=+1+ +01+ >.H4, >+*.% ).4F $O+>[&4,&N &$% 1%$1$H+,14* B, •
•
•
•
>$G4* >.*.,4*4& &%&1$D&* 04,1 =%.j&,+1&>+*+ e $,1&0+=1&>+ &,1+01&,$*+d :D41&,+N 2.*.D41&,+N 2.*.0=$0H&,N ;+D%&)$1N "' S 1$D*+1+rG& )4=F H+0+*+ =%&,>&=$*+ *$ SY H&,41+' 4, 1%$1$H+,1 >.,1%$&,)&>$1 B, >$G4* D.*&*.% &,O*$H$1.%&& &,1+01&,$*+' =+,1%4 >$%+ 0+ %+>.H$,)F 1%$1$H+,1 >%.,&> >4 $,1&&,O*$H$1.%&& 1&= 0&*&>&> ' $>&) Z $H&,. 0$*&>}*&>r 04*O$0$*$G&,F 04D O.%HF )+d P4=.G&1.$%+ )+ ZYYr"YYY H(N 0+ $)H&,&01%+$GF >A1+ "'? rG&N 1&H= )+ H&,&H " *4,F
?_"
2*&0H+ )+ ZYY H(N >4 $>++$^& =.0.*.(&+ 5$D*+1+ )+ ZYY H(r"YYY H(N B, >4%+ )+ "'S'_ *4,& 0$4 >.HD&,$1+ >4 O.%H+*+ &,1%$%+>1$*+N 1.14* 04D >.,1%.*4* =+%&.)&> $* 1%$,0$H&,$G+*.% 2$,>+%4* >.*.%+>1$* @$%&$GF >$ 0&H=1.H$1.*.(&+ O.$%1+ H4*1N )4%+%+$ +01+ >.,1&,4F ^& ,4 >.*&>$1&@F ^& ,4 +01+ &,O*4+,[$1F )+ $*&H+,1$1&+ 0$4 )+ 1%$1$H+,1+*+ .D&^,4&1+3 ;4%+%+$ >%.,&>F =.$1+ $@+$ ^& $*1+ *.>$*&GF%& )+>A1 >+$ $D).H&,$*$' +@&*&' +'"@Q* [email protected]@C)i.AD*C*?'A*N $=F%41+ B, >$)%4* 4,.% D.*& =%+>4Hd =.*&$%1%&1$ %+4H$1.&)ª • •
• • • • • • • • • • • • •
0=.,)&*&1$ 0&,)%.H4* $,>]&*.G$,1ªN 7+&1+%q @$0>4*&1$q =.*&H&.G&1$N )+%H$1.H&.G&1$q =.*&H&$*(&$ %+4H$1&>Fq .01+.H$*$>&$q 0&,)%.H4* )+ .D.0+$*$ >%.,&>ªq O&D%.H&$*(&+q ]&=+%1&%.&)&0Hq ]&=.1&%.&)&0Hq ,+.=*$0H4*q 0>*+%.G$ H4*1&=*ª
9/'C* +* ?&/>.H'?*&* / +@&*&'' :,O.%H$[&$ ,.>&>+=1&@F +01+ 1%$,0H&0F =%&, &,1+%H+)&4* O&D%+*.% 8' )+*1$ 0& O&D%+*.% 23 804=%$ O&D%+*.% 8' >$%+ %+=%+G&,1F >$*+$ %$=&)F ' $>[&.,+$GF $,+01+G&>+*+ *.>$*+3 J&D%+*+ 2 $4 *$H&,$ : ^& *$H&,$ :: =+,1%4 )4%+%+$ 0.H$1&>FN )$% B, $>+*$^& 1&H= *$H&,+*+ :N g ^& y 04,1 ^& =+,1%4 )4%+%+$ @&0>+%$*F3 7+*++*+ H+)4*$%+ )+ =%.>+0$%+ $ )4%+%&& 04,1 1%+& ' =%.1.=$1&>N =%.=%&.>+=1&@ ^& @&0>+%$*3 9/C*/ +* ?&/>.H'?*&* / +@&*&'' I'.A*&/C* d ! ;4%+%+$ @&0>+%$*F $%+ %+>+=1.%& ' H+>$,&>& ' =.*&H.)$*& ! 2F& $*1+%,$1&@+ )+ 1%$,0H&1+%+ $ )4%+%&& 04,1d ' O$0>&>4*4* ).%0$* $* HF)4@+& ' 0=&,.=$%$D%$]&.$H&()$*.&)$ ' 0=&,.]&=.1$*$H&>F3 61$=$ H+)4*$%F >4=%&,)+ 1%$,0H&1+%+$ 0&,$=1&>F =%&, &,1+%H+)&4* 8+$8)2"?(' O Q@$0.$>1&@FRN >$%+ $>[&.,+$GF *$ ,&@+*4* %+>+=1.%4*4& T•"N )$% ^& =%&, &,1+%H+)&4* A&+)292)+&+'. >$%+ $>[&.,+$GF $04=%$ %+>+=1.%&*.% T#;8N 8#98 ^& HL*43 7+>+=1.%4* T#;8 +01+ D*.>$1 )+ `*?/H'>/N 4, $,+01+G&> *.>$*3 814,>& >A,) 01&H4*4* )4%+%.0 +01+ O.$%1+ =41+%,&>N 0+ =%.)4>+ >++$ >+ ,4H&H =.1+,[$%+$ =%+*4,(&1F Q~&,)'4=N O+,.H+, )+ B,1+[&%+RN O+,.H+, >+ $%+ %.* B, H+H.%&G$%+$ )4%+%&&N ^& $,4H+ $H=*&O&>$%+$ %F0=4,04%&*.% =.010&,$=1&>+ >$ 4%H$%+ $ 01&H4*F%&& 0&,$=1&>+ =%+*4,(&1+3 8>+01 O+,.H+, $ O.01 )+0>%&0 *$ ,&@+*4* ]&=.>$H=4*4& ^& 0=&,$*N >4 )4%$1F )+ .%+ ' G&*+3
?_?
801O+*N &,O*4f4* &,1%$>+*4*$% )+ &.,& )+ >$*>&4N 0+>4,)$% $>1&@F%&& %+>+=1.%4*4& T#;8N@$ >.,)4>+ *$ $>1&@$%+$ 4,.% (+,+ >4 %.* B, $H=*&O&>$%+$ )4%+%&& QSR3 8)H&,&01%$%+$ )+ $,$*(+G&>+ B,$&,1+$ $=*&>F%&& 01&H4*4& )4%+%.0N @$ =%+@+,& %+$>1&@$%+$ T#;83 0?/G/ H*+@C/&F $%+ O4,>[&$ )+ K ($1+' >.,1%.*M QSNbRN &$% >$ (%4=+ )+ H+)&>$H+,1+ 0+ O.*.0+0>d $,$*(+G&>+*+ .=&.&)+N $,+01+G&>+*+ *.>$*+ z? $(.,&^1&& -$ ,&@+* 1$*$H&>N &,O.%H$[&$ ,.>&>+=1&@F )+@&,+ 0+,G$[&+ QSR 3 2$&*+ 1$*$H&>+ =+,1%4 )4%+%+ 04,1d ! 0=&,.1$*$H&>F e >4 .%&(&,+ B, *$H+*+ :N :g ^& g ^& >$%+ 0+ 1+%H&,F *$ ,&@+*4* ,4>*+4*4& >+,1%$* $* 1$*$H404*4& ! >$*+$ ,+.0=&,.1$*$H&>F ! >$*+$ =$*+.0=&,.1$*$H&>F 7>?*(&/&*/ A)&?'A/CF / +@&*&'' 0+ O$>+ =+ >F&*+ ! 0=&,.H+G+,>+O$*&>F ! 0=&,.%+1&>4*$%F 9)&?'A/C'Q/&*/ +@&*&''d P1$%+$ )+ >.,^1&+,[F +01+ >.,0+>&,[$ 1%$,0O.%HF%&& O4,>[&.,$*+ $ &,O.%H$[&+& >.,[&,41F B,1%'. %+[+$ ,+4%.,$*FN >+$ H$& &H=.%1$,1$ O&&,) %+[+$4$ O%.,1.=$%&+1$*F3 8%&&*+ )+ $0.>&$[&+ =$%&+1$*+ =.01+%&.$%F ^& =%+O%.,1$*FN $4 O.01 >&1$1+ >$ O&&,) &H=*&>$1+ B, (+,+%$%+$ ^& H+,[&,+%+$ 01F%&& )+ >.,^1&+,[F QSR3 2.%1&>$*&G$%+$ )4%+%&& 0+ O$>+ =%&, $%&$ 0.H$1.0+,G&1&@$ =%&H$%F ^& $%&$ 0+>,)$%F3 9F'C* +*.A*>+*>?* /C* +@&*&'' 04,1d .=&.&)+%(&>+ ,.%$)%+,+%(&>+ 0+%.1.,&,+%(&>+ ).=$H&,+%(&>+ !@K.?/>?*C* )G')'+*&('A* $4 >$ =%&H %+=%+G+,1$,1 H.%O&,$3 ;+%&@$1& $& H.%O&,+& QbRd ,*")G/HB 4A@G/>E ' &,]&D$ %+>$=1$%+$ )+ Zl5 ' &,]&D$ %+>$=1$%+$ )+ T8 ' &,]&D$ %+>$=1$%+$ )+ ).=$H&,F3 5&/H/+)C ' $(.,&01 0*$D $* %+> u ' &,]&D$ %+>$=1$%+$ )+ Z'l5 ' &,]&D$ %+>$=1$%+$ )+ T83 • • •
• • • •
6f&01F H+1.)+ >+ .D&+>1&@+$GF &,1+,0&1$1+$ )4%+%&& d ! 06%Q+*+>1%.H&.(%$H$R e =$>&+,14* 0+ +f=%&HF $04=%$ >$%$>1+%4*4& )4%+%&& K01%A,(+ )+ )4%+%+M ! [2PB ]&=+%%+$>1&@&1$1+$ @$($*FR g K/C/>S/ .'HG/?)i I/(/CF' 1$]&>$%)&+rD%$)&>$%)&+ ! 00% Q +*+>1%.+,>+O$*.(%$H$R ! 9)>+@A?'I'?/?*/ A@?/>/?F e K1%$,0=&%F )+ )4%+%+M
?_S
6@$*4$%+$ )4%+%&& >$ &,1+,0&1$1+ 0+ O$>+ &, O4,>1&+ )+ 0>$*$ @&G4$*$ $,$*.(F $ )4%+%&&N >$%+ ,+ =+%H&1+ . B,>$)%$%+ .D&+>1&@F $ >$%$>1+%4*4& 04D&+>1&@ $* )4%+%&&3 ;4%+%+$ @&0>+%$*F +01+ *.>$*&G$1F =+ *&,&+ H+)&$,FN +01+ B,0.[&1F )+ H.)&O&>F%& ,+4%.@+(+1$1&@+ ^& )+ *&=0$ ]&=+%0+,0&1&@&1F[&& *$ =$*=$%+3 ;4%+%+$ >%.,&>F =.$1+ O& ,.>&>+=1&@Fr,.,',.>&>+=1&@F ;4%+$GF H$& H4*1 )+ . *4,F Q"'_ *4,&R 7F0=4,04* ,+4%.+,).>%&, +01+ )&H&,4$1 0$4 $D0+,13 5&/?/H*>?@C +@&*&'' A&)>'A* g 0+ O.*.0+^1+ $,$*(+G&$ H4*1&H.)$*Fd "3 #.%O&,$ e >.,0&)+%$1F &,&[&$* 1%$1$H+,1 )+ 0=&1$*N >.,O.%H -+(&& SSX =.$1+ O& =%+0>%&0F )+ .%&>+ H+)&> >4 %+(*+H+,1F%&*+ B, @&(.$%+3 ?3 47,! i />?''>"C/H/?)&'' >)> .?*&)'+'*>* +* ?'G A)U'K' N >$%+ %+$*&G+$GF &,]&D&[&$ 0+*+>1&@F $ >F&& $>&)4*4& $%$]&).,&> =%&, &,]&D&[&$ 0+*+>1&@F $ %+>+=1.%&*.% 2/y ? e 9$%+>.f&D 0$4 61.%&>.f&D Q8%>.f&$ _YN \YN "?Y H(RN 4*1&H$ O&&,) >.,>+,1%$[&$ %+>.H$,)$1F =+,1%4 )4%+%+$ >%.,&>F 0+@+%FN B, $)H&,&01%$%+ G&*,&>FN 1&H= )+ H$f&H a G&*+ B, $)H&,&01%$%+ >.,1&,4FN S3 47! .' 47,! H/' G@S'> .'(@&* +*Ap? A)U'K'' ' &,]&D&1.%& ,+0+*+>1&@& )+ 2/y ' 80=&%&,$N :D4=%.O+,&& ^& :,).H+1$>&,4*N b3 &/A*?/H)C@C' &,]&D&1.% 0*$D )+ 2/y ? ^& 0+ =$%+ >F $>[&.,+$GF =%&, &,]&D$%+$ 2/y S *$ ,&@+* >+,1%$*3 T)&H* /C?*&>/?'I* +* ?&/?/H*>? / +@&*&'' A&)>'A* 4>?'+*G&*.'I* ' $1¢1 >+*+ 1%&>&>*&>+ ^& &,]&D&1.%& 0+*+>1&@& $& %+>$=1F%&& 0+%.1.,&,+& QPP7:R 0'$4 ).@+)&1 $ O& +O&>&+,1+3 • • •
' >$%+$0.>&$1+ &,]&DF >4 $>1&@&1$1+$ 0&01+H4*4& >+,1%$*3 601+ 41&*&*&G$1ª B, H.) ,.%H$* 5'Q/>'+'>/ =+,1%4 0=$0H+ 0>*+%.G$ H4*1&=*F 0$4,+%@.0 >4 *+G&4,& $*+ >.*.$,+& @+%1+D%$*+3 4>/C(*Q'A* .'HGC* J' A)HG@.* ' =+ 1+%H+, *4,( 41&*&G$%+$ +f>+0&@F $ 1414%.% $,$*(+G&>+*.% 1%+D4&+ +@&1$1F )&, >$4G$ %&0>4*4& )+ )+=+,)+,[F3 <, 014)&4 $ &,)&>$1 >ª ^$,0+*+ )+ %+>4=+%$%+ $4 O.01 )+ $=%.$=+ =$1%4 .%& H$& H$%& «, %$,)4* =+%0.$,+*.% >$%+ ,4 41&*&G+$GF .=&.&)+N >.H=$%$1&@ >4 =+%0.$,+*+ >$%+ O.*.0+0> .=&.&)+3 !?'H@C/&*/ *C*A?&'AF ?&/>.A@?/>/?F >*&I)/.F Q56TPR e >4 +O+>1+ O$@.%$D&*+3 8@$,1$kd 0+ =.$1+ $=*&>$ >]&$% )+ >F1%+ =$>&+,13 T'Q')?*&/G'* J' ?*&/G'* )A@G/S')>/CF ' 1+%$=&$ )+ $(%+H+,1 =.$1+ $k41$ =$>&+,14* >4 )4%+%+ >%.,&>ª 0ª &$ =$%1+ *$ $>1&@&1ª[& =*ª>41+N >$%+ $k41ª *$ 0>$)+%+$ )4%+%&&3 <.'D)?*&/G'* ' >.H=.%1$H+,1$*$ ^& >.(,&1&@F3 X'KC')(&/"'* "3 ;+>*$%$1&$ $04=%$ )4%+%&&N #.,1%+$*N ?Y"Y ?3 x&+,+% -3P1$,*+}N ;&$(,.01&>4* )&O+%+,1&$* &, )4%+%+$ $>41$N :P`T XaS'\Z"X\'Y'?N2.=} 7&(]1 #>L%$~ l&**N "XX\N _X\ =$(&,& S3 9$@+* `.()$, ' J&G&.=$1.*.(&$ )4%+%&&N %+O+%$1 &, >$)%4* 1+G+& )+ ).>1.%$1N ?Y"?)4%+%+3=)O b3 2$1$*&,$ 6*+,$ W+,+8%*+ e K2*92/%&%A'(N @.*3 :N ::N :::N 6)3 #.*).@$N :$0&N "XXb3 Q:P`Td XaS'X"b_'_Y'YN XaS'X"b_'_"'X e @.* :N XaS'X"b_'_?'a e @.* ::N XaS'X"b_3
?_b
4;%0o73;3%74^ 3 4X32N420 X730579: `.()$, :3 5$HD$N /01&, 23 #4,(&4 ;&0>&=*&,$ )+ J$%H$>.*.(&+ <#J oL%&(.%+ 53 9.=$o :$^& 8*(+G&.*.(&$ 0+ .>4=F >4 014)&4* ^& 1+%$=&$ )4%+%&&N &,>*4GA,) . 0+>[&4,+ +f=+%&H+,1$*F ^& . 0+>[&4,+ >*&,&>F3 P14)&&*+ +f=+%&H+,1$*+ =%&@&1.$%+ *$ O+,.H+,4* $*(+G&> 0+ =.1 +O+>14$ O&+ *$ .HN O&+ *$ $,&H$*3 C, $HD+*+ >$G4%&N 0+ &H=4,+ ,+>+0&1$1+$ %+0=+>1F%&& 4,.% ,.%H+ +1&>+3 8>+$01F *4>%$%+ 4%HF%+I1+ . +@$*4$%+ >.H=$%$1&@F $ $0=+>1+*.% *+($1+ )+ +1&>F B, )4%+%+N $I$ >4H +01+ =%&@&1F $01FG& B, E$%$ ,.$01%F I& B, *4H+3 0?'A/ *UG*&'H*>?@C@' /C(*Q')C)('A C/ />'H/C@C +* *UG*&'*>SF JF%F B,).&$*FN H$%+$ H$k.%&1$1+ $ +f=+%&H+,1+*.% =+ $,&H$*+ B, ).H+,&4* )4%+%&& 0+ O$> B, =%&H4* %A,) =+,1%4 +@$*4$%+$ =%.=%&+1F[&*.% $,$*(+G&>+ $*+ H.*+>4*+*.% B, >$)%4* =%.>+0+*.% )+ 0>%++,&,( O$%H$>.*.(&>N I& H$& =4E&, =+,1%4 $ )+1+%H&,$ =$%$H+1%&& O&G&.*.(&>& $& O+,.H+,4*4& )4%+%.0 QL$41]&+% +1 L%&OO&,N ?YYZR3 6f=+%&H+,1+*+ $*(+G&.*.(&>+ 1%+D4&+ 0F %+0=+>1+ *+(&0*$[&$ B, @&(.$%+ =%&@&,) +@$*4$%+$ ^& k401&O&>$%+$ 41&*&GF%&& $,&H$*+*.% =+,1%4 >+%>+1$%+ D&.H+)&>$*F ^& 0>.=4%& )&)$>1&>+ Q-.@+ +1 $*N ?Y""R3 8@A,) B, @+)+%+ >.,1%.@+%0+*+ =%&@&1.$%+ *$ 1+01$%+$ $D4G&@F $ $,&H$*+*.% )+ *$D.%$1.%N .%($,&G$[&&*+ &,1+%,$[&.,$*+ $4 &,&[&$1 ^& $).=1$1 . 0+%&+ )+ $>1+ *+(&0*$1&@+ >$%+ =%+@F) . 0>F)+%+ 04D01$,[&$*F $ ,4HF%4*4& )+ $,&H$*+ 41&*&G$1+ =+,1%4 +f=+%&H+,1 Q740>]+N ?YYSR3 8>+*+$^& *+(& 04,1 H+,&1+ 0F %+(*+H+,1+G+ ^& 41&*&G$%+$ )&O+%&1+*.% H+1.)+ $,$*(+G&>+ ^& $,+01+G&>+N $01O+* B,>A1 04O+%&,[$ $,&H$*4*4& 0F O&+ 0+H,&O&>$1&@ %+)40F QP1.j+0N ?YY?N ;+l$@+,N ?YY?R3 ;&, $>+01 H.1&@ 0=%+ +f+H=*4N =+,1%4 1+01+*+ 1+%H.$*(+G&>+N 01&H4*4* 1+%H&> )4%+%.0 ,4 1%+D4&+ 0F )+=F^+$0>F ZZ (%$)+ 23 :,)&O+%+,1 )+ H+1.)FN )+=F^&%+$ $>+014& =%$( =.$1+ )4>+ *$ *+G$%+$ [+0414%&*.% $,&H$*+3 ;&0=.G&1&@+*+ =+,1%4 +f=+%&H+,1+*+ =+ $,&H$*+ $4 O.01 %+$)$=1$1+ $01O+* B,>A1 $,&H$*4* 0F'^& =.$1F %+1%$(+ >.$)$ Q1+014* 1$&*'O*&>jR 0$4 H+HD%4* Q1+014* ].1'=*$1+R3 80+HF,F1.%N =+,1%4 +O+>14$%+$ +@$*4F%&& $,$*(+G&+& *$ 1+01+*+ H+>$,.'$*(+G&>+N *$D$ ^.D.*$,4*4& +01+ =*$0$1F =+ . ,&>.@$*F =*$1F ^& =+ >$%+ $=$0F . =&+0F >.,&>FN >4 @A%O4* %.14,k&13 2A,) =%+0&4,+$ $04=%$ *$D+& )+@&,+ )4%+%.$0FN $,&H$*4* =.$1+ 0F'^& %+1%$(F H+HD%4* &H+)&$13 24 1.$1+ $>+01+ %+(*+H+,1F%&N =%&, &,1+%H+)&4* >+*.% >$%+ H&*&1+$GF =+,1%4 )%+=14%&*+ $,&H$*+*.%N )$% ^& =%&, O&,$,[F%&*+ +f=+%&H+,1+*.% =+ >4*14%& )+ [+0414%&N ^& $ >+*.% )+ 0&H4*$%+ @&%14$*FN 0+ O$> =%+0&4,& =+,1%4 B,*.>4&%+$ +f=+%&H+,1+*.% =+ $,&H$*+ QP1+@+,0N "XX?R3 80.>&$[&$ :,1+%,$[&.,$*F =+,1%4 P14)&4* ;4%+%&& $ +*$D.%$1 B, "X\? 4, 0+1 )+ >+%&,[+ =+ >$%+ .%&>+ 014)&4 $04=%$ O+,.H+,4*4& $*(+G&> 1%+D4&+ 0F *+ B,)+=*&,+$0>F Q:8P9N "X\?R3 9+ 0>4%1N .%&>+ 014)&4 1%+D4&+ 0F'^& k401&O&>+ 41&*&1$1+$ ^& +@+,14$*+*+ D+,+O&>&& =+ >$%+ *+'$% .O+%& %+G4*1$1+*+ .D[&,41+ =+,1%4 B,[+*+(+%+$ H+>$,&0H+*.% )&O+%&1+*.% 1&=4%& )+ )4%+%+N 0F $=%+>&+G+ ,&@+*4%&*+ )+ )4%+%+ =%&, H.)&O&>F%&*+ )+ >.H=.%1$H+,1 $*+ $,&H$*4*4&N 0F 41&*&G+G+ 01&H4*& 0+H,&O&>$1&@& *$ &,1+,0&1$1+ H&,&HF Q9$11+%0.,N ?Y""R3 5%+D4&+ 0F 0+ $&DF B, @+)+%+ =.0&D&*&1$1+$ 4,4& 1%$1$H+,1 $,$*(+G&> B,1%+ +f=+%&H+,1F%& *$ $,&H$*+*+ >4 H.)+*+ )+ )4%+%+ >%.,&>FN &$% )4%$1$ +f=+%&H+,14*4& ^& ,4HF%4* )+ $,&H$*+ 0F O&+ %+)40+ *$ @$*.%&*+ H&,&H+N >$%+ 1.14^& 0F =.$1F 0F .O+%+ . >.,>*4G&+ >*$%F Q01$1&01&> 0+H,&O&>$1&@FR3 / %+>.H$,)$%+ $=$%1+ +01+ >+$ B, >$%+ B,)+$H,F >+%>+1F1.%4* 0F B,>+%>+ 01&H4*4* )4%+%.0 H$& B,1A& =+ +* B,04^&N $14,>& >A,) $>+01 01&H4* +01+ ,+&,@$G&@3
?_Z
C, 4%HF >4 4, 0O+%1 )+ @+$> $ O.01 +*$D.%$1F 2.,@+,[&$ 64%.=+$,F =%&@&,) =%.1+>[&$ $,&H$*+*.% @+%1+D%$1+ 41&*&G$1+ B, 0>.=4%& +f=+%&H+,1$*+N ^& $ &,1%$1 1%+=1$1 B, @&(.$%+ B,>+=A,) >4 "X\_ Q64%.=+$, 2.4,>&*N "X\_R3 2.,@+,[&$ $ O.01 $).=1$1F ^& )+ [$%$ ,.$01%F >4 H.)&O&>F%&*+ +O+>14$1+ B, =+%&.$)$ "XX?'?YYS3 5.$1+ H.)&O&>F%&*+ $4 4%HF%&1 %+)4>+%+$ ,4HF%4*4& )+ +f=+%&H+,1+ =+ $,&H$*+N $ ,4HF%4*4& )+ $,&H$*+ )&, >$)%4* $>+01.% >+%>+1F%&3 8>+*+$^& H.)&O&>F%& $4 4%HF%&1 ^& =%.>+)4%& >$%+ =%+@F) 1+%$=&& )+ )&H&,4$%+ $ )4%+%&& ^& 01%+04*4&3 5%+D4&+ H+,[&.,$1 >F $>+01+ =%.>+)4%& ,4 @.% O& $=*&>$1+ )$>F 01%$1+(&&*+ )+ )&H&,4$%+ $ )4%+%&& H.)&O&>F %+G4*1$1+*+ >+%>+1F%&&N $^$ >4H 0+ =+1%+> *4>%4%&*+ B, 4,+*+ 014)&& )+ $*(+G&.*.(&+3 5.$1+ $>+01+ $0=+>1+ 1%+D4&+ >4,.0>41+ )+ >+%>+1F1.%& I& H+HD%&& >.H&0&&*.% )+ +1&>F >$%+ 1%+D4&+ 0F 4%HF%+$0>F B,1.>H$& %+0=+>1$%+$ ,.%H+*.% )+ +1&>F QL4&11&, +1 ;+>+**+N ?YY?R3 ;&, $>+01 =4,>1 )+ @+)+%+ $H ).%& 0F 04D*&,&+H )&O+%+,E$ H$%+ +f&01+,1F *$ ,&@+*4* +f&01+,E+& B,1%+ >.H&0&&*+ )+ +1&>F )&, L+%H$,&$ 0=%+ +f+H=*4N I& >+*+ >$%+ O4,>E&.,+$GF B, >+,1%+*+ 4,&@+%0&1$%+ H+)&>$*+ )&, 7.HA,&$3 ;&, +f=+%&+,E$ 4,4&$ )&,1%+ $41.%& 0+ =.$1+ $O&%H$ >FN B, L+%H$,&$ >+%+%+$ I& )+GD$1+%+$ B, 2.H&0&$ )+ 61&>F =+,1%4 +f=+%&H+,1+*+ =+ $,&H$* $4 *.> >4 $=%.f&H$1&@ 4, $, B,$&,1+ )+ )+D414* +f=+%&H+,14*4&N 04=40+ 4,.% )&0>4E&& I& ,+(.>&+%& $=%&,0+ Ql.4@+,$(]+*N ?YYYR3 C, >.,1%$01N @$%&$,1$ %.HA,F $ $>+01.% )+GD$1+%& &, >.H&0&& 0&H&*$%+ )&, E$%$ ,.$01%F $4 H$& H4*1 4, >$%$>1+% )+ O.%H$*&1$1+3 0?'A/ A*&A*?F&'' k' H/>/(*H*>?@C +@&*&'' C/ )H P14)&&*+ +O+>14$1+ =+ $,&H$*+ 04(+%+$GF . 0&H&*$%&1$1+ $ 0&01+H+*.% )+ =%.)4>+%+ I& H.)4*$%+ $ )4%+%&& >4 >+*+ .D0+%@$1+ I& )+0>%&0+ *$ .H3 2++$ >+ +01+ )&O+%&1 B,0FN +01+ 01$%+$ =0&].*.(&>F $ &,)&@&)4*4& >4 )4%+%+N 01$%+ >$%+ =.$1+ $O+>1$ =%.O4,) +O&>$>&1$1+$ 1%$1$H+,14*4& Q#$,,&,(R3 C, $D.%)$%+$ %+*$E&+& +1&>F')4%+%+ 0+ )+0=%&,) ).4F $0=+>1+ >$%+ 1%+D4&+ 1%$1$1+ 0+=$%$1d ' `&.+1&>$ >+%>+1F%&*.% $04=%$ )4%+%&& I& $,$*(+G&+& *$ .H3 ' 9%&,>&=&&*+ +1&>+ >$%+ 1%+D4&+ *4$1+ B, >.,0&)+%$%+ B, 0&14$E&$ B,(%&k&%&& =$>&+,E&*.% >4 )4%+%+ $>41F I& >%.,&>F3 X')*?'A/ *UG*&'H*>?*C)& AC'>'A* W> /C(*Q')C)('* C, H.) >*$%N .%&>+ 014)&4 >*&,&> &H=*&>F I& $0=+>1+ +1&>+N &$% 014)&&*+ >$%+ 4%HF%+0> =%.)4>+%+$ I& H.)4*$%+$ )4%+%&& ,4 O$> +f>+=E&+3 6f=+%&H+,1+*+ =.1 )+1+%H&,$ 04O+%&,E+ O&G&>+ I& =0&]&>+N )+ $>++$ =%.1.>.$*+*+ +f=+%&H+,1$*+ 1%+D4&+ D&,+ (A,)&1+ B, $I$ O+* B,>A1 0F ,4 >%++G+ 04O+%&,E+ &,41&*+3 9$%1&>&=$%+$ *$ +f=+%&H+,1 +01+ $D0.*41 @.*4,1$%FN E&,A,)4'0+ 0+$H$ )+ O$=14* >F +01+ ,+>+0$% 4, >.,0&HEFHA,1 &,O.%H$1N >++$ >+ B,0+$H,F >F 04D&+>14* $ B,E+*+0 >F 0+ =.$1+ %+1%$(+ .%&>A,) )&, 014)&4* >*&,&>N OF%F >.,0+>&,E+3 7+0=+>1A,) 1.$1+ $>+01+ %+(4*&N $4 O.01 )+0OFI4%$1+ 014)&& >$%+ $4 )+H.,01%$1 +O&>$>&1$1+$ $,$*(+G&>F $ O4H4*4& )+ H$%&k4$,$3 P14)&4* $ 41&*&G$1 >$ 01&H4*& )4%+%.I& 01&H4*4* 1+%H&> 0$4 &,k+>1$%+$ >4 >$=0$&>&,F Q-+@+% +1 7&>+ ?YYaR3 <, $*1 014)&4 >4 H.)+* +f=+%&H+,1$* 4H$,$ $ 4%HF%&1 +O+>14* ($D$=+,1&,+& *$ =$>&+,E& >4 ]+%=+0 G.01+% I& )4%+%+ ,+4%.=$1&>F3 P14)&4* $ O.01 41&* I& ,+>+0$%N B, >.,)&E&&*+ B, >$%+ +* ,4 =.$1+ O&+ +O+>14$1 *$ @.*4,1$%& 0F,F1.I& Q`+%%} +1 9+1+%0+,N ?YYZR3 5+01$%+$ H+)&>$H+,1+*.% >4 =.1+,E&$* $,$*(+G&> 0+ +O+>14+$GF >4 %+0=+>1$%+$ =%&,>&=&&*.% +1&>+ >+ 0+ $=*&>F B, 1.$1+ 014)&&*+ >*&,&>+ Q=%&,>&=&&*+ D+,+O&>&4*4&N $ &,.>4&1FE&&N $ %+0=+>1F%&& =+%0.$,+&N I& $* +>]&1FE&&RN &,)&O+%+,1 )+ O$G+*+ $>+01.%$ Q=+ @.*4,1$%& 0F,F1.I& 0$4 D.*,$@&R Q7.($~0j&N ?YY_R3 2A,) +01+ @.%D$ )+ 4, $(+,1 O$%H$>.*.(&> .%&(&,$*N =%.1.>.*4*
?__
+f=+%&H+,1$* @$ E&,+ 0+$H$ )+ )$1+*+ 1.f&>.*.(&>+ I& O$%H$>.)&,$H&>+ %+G4*1$1+ )&, ).0$%4* =%+>*&,&>N )$1+ >+ 1%+D4&+ 0F )+H.,01%+G+ *&=0$ )+ 1.f&>&1$1+ Q0$4 >++$ >+ 0+ ,4H+I1+ 1.f&>&1$1+ $>>+=1$D&*FRN =%+>4H I& )$1+ %+*+@$,1+ >$%+ 0F &,)&>+ 4, +O+>1 $,$*(+G&> 0+H,&O&>$1&@ QO$EF )+ =*$>+D.N )$% H$& &H=.%1$,1 O$EF )+ H+)&>$H+,1+ >4 $>+*$I& +O+>1 O$%H$>.)&,$H&>R3 P14)&&*+ )+ O$GF : QB, >$%+ 0+ 1%+>+ )+ *$ $,&H$* *$ .HR &H=*&>F 4, (%$) H$& H$%+ )+ %+0=.,0$D&*&1$1+3 81A1 +>]&=$ )+ >+%>+1$%+ >*&,&>F 0& >.H&0&&*+ )+ +1&>F $ >F%.% >.H=+1+,EFN +>]&)&01$,EFN I& D4,F >%+)&,EF 1%+D4&+ 0F O&+ *$ @$*.%& H$f&H+ BH=$%1 B, H.) +($* $>+$01F %+0=.,0$D&*&1$1+ QP>]H+*GN ?YYXR3 6/>/(*H*>?@C +@&*&'' i ) /K)&+/&* K')*?'AF 8=$%&E&$ I& )+G@.*1$%+$ 4,+& )&0>&=*&,+ )+)&>$1+ 014)&4*4& I& 1+%$=&+& )4%+%&& Q)+,4H&1F B, O4,>E&+ )+ E$%F H+)&>&,$ )4%+%&&N $*(.*.(&+N 0$4 >$ B, 7.HA,&$N $*(+G&.*.(&+R $ +@&)+,E&$1 I& )&H+,0&4,&*+ +1&>+ 0=+>&O&>+ $*+ $>+01+&$3 9+ *A,(F 1+%$=&$ =+,1%4 . $,4H&1F $O+>E&4,+ H+)&>$*FN 1+%$=&$ )4%+%&& $ O.01 %+>.,0&)+%$1F $01O+* B,>A1 @&G&4,+$ $>14$*F $ >.,)40 *$ $=$%&E&$ 4,4& ,.4 >.,>+=1 4,)+ )4%+%+$ +01+ =%&@&1F >$ o. $O+>E&4,+ $ 0&01+H4*4& ,+%@.0 >+,1%$* >$%+ 1%+D4&+ 1%$1$1F 4%(+,1 &,)&O+%+,1 )+ >$4G$ >$%+ $ )+1+%H&,$1'.o3 9A,F B, $,&& XYN B, 4,+*+ I>.*& )+ H+)&>&,F )&, 7.HA,&$N 014)+,E&& +%$4 B,@FE$E& >FN B, >$G )+ )4%+%+ $D).H&,$*F 0=%+ +f+H=*4N =$>&+,14*4& ,4 1%+D4&+ 0F & 0+ $)H&,&01%+G+ $,$*(+G&>+N >& )&, =.1%&@F %+$>E&$ =$>&+,14*4& *$ )4%+%+ I& +@.*4E&$ )4%+%&& +%$4 >.,0&)+%$1+ $ O& %+*+@$,1+ B, &)+,1&O&>$%+$ .%($,4*4& >$%+ =%.@.$>F )4%+%+ 0& $ )&$(,.01&>4*4& >.%+>13 / $01O+* )+ $1&14)&,+ +01+ B, =%+G+,1 >.,0&)+%$1F 1.1$* &,$>>+=1$D&*F I& ,++1&>FN $@A,) B, @+)+%+ H4*1&=*+*+ H&k*.$>+ )+ &H$(&01&>F I& *$D.%$1.% $O*$1+ *$ B,)+HA,$ H+)&>&*.%N O$>&*&1A,) . )&$(,.01&>$%+ >.%+>1F I& %$=&)F3 ;&, $>+01 H.1&@N B, H4*1+ 01$1+ )+G@.*1$1+N +>]&=$ H+)&>$*F +01+ >$1$*.($1F >$ O&&,) ,+=%.O+0&.,$*F 0$4 $>E&.,A,) ,++1&>N )$>F )4%+%+$ $>41F $ =$>&+,14*4& ,4 +01+ B,)+=F%1$1F B, k4HF1$1+ )+ .%F )+ *$ &,1+%,$%+3 :H=.%1$,E$ )4%+%&& I& $ 1+%$=&+& $>+01+&$ 0+ @F)+I1+ I& B, >+*+ H$& %+>+,1+ ).>4H+,1+ I& $1&14)&,& +f=%&H$1+ )+ 4,+*+ .%($,&G$E&& ,$[&.,$*+ I& &,1+%,$E&.,$*+d ' /%($,&G$E&$ #.,)&$*F $ PF,F1FE&& $ =4D*&>$1 o0>$%$ $,$*(+G&>Fo>+ .O+%+$ 4, $*(.%&1H $* 1%$1$H+,14*4& )4%+%&& .,>.*.(&>+ B, O4,>E&+ )+ &,1+,0&1$1+$ +&3 8>+$01F 0>$%FN $).=1$1F I& .=1&H&G$1F B, 4%H$ 4,.% +@$*4F%& >%&1&>+N +01+ $>4H 41&*&G$1F =+,1%4 1.$1+ 1&=4%&*+ )+ )4%+%+N $1A1 .,>.*.(&>+ >A1 I& ,.,.,>.*.(&>+ Qxl/R ' 80.>&$E&$ =+,1%4 =%.D*+H+*+ @+1+%$,&*.% )&, <3P38 $ )+O&,&1 )4%+%+$ >$ o$* >&,>&*+$ 0+H, @&1$*o I& $ 01$D&*&1 +@$*4$%+$ )4%+%&& >$ . H$,+@%$ )+ %41&,F B, 0=&1$*+ Q7&>]$%) +1 $*N ?YY_R ' P.>&+1FE&*+ $H+%&>$,+ )+ )4%+%+ Q8>$)+H} .O 9$&, #+)&>&,+ I& 8H+%&>$, 9$&, P.>&+1}R $4 $1%$0 $1+,E&$ $04=%$ =%.D*+H+*.% )+ +1&>F =+ >$%+ *+ B,1AH=&,F 0=+>&$*&I1&& $*(+G&.*.(& I& >+&*$*E& H+)&>& >A,) 1%+D4&+ 0F 1%$1+G+ D.*,$@4* )$% >4 B,>$)%$%+$ B, %+(4*&*+ )4%+ $*+ &,01&14E&&*.% )+ $0&(4%F%& )+ 0F,F1$1+ 0$4 $*+ *+(&0*$E&+& B, @&(.$%+ QJ+%%+** +1 $*N ?YY"R ' C, 7.H$,&$N 80.>&$E&$ )+ 014)&4 $ )4%+%&& Q87;PR I& H$& $*+0 80.>&$E&$ )+ 8*(+G&.*.(&+ Q887RN $4 H&*&1$1 B, H.) >.,1&,44 =+,1%4 .=1&H&G$%+$ 1%$1$H+,14*4& >4 $,$*(+G&>+ =+,1%4 B,1%+$($ =.=4*$E&+N OF%F )+.0+D&%+ )+ +1,&+N 0+f 0$4 01$%+ H$1+%&$*F3 7+G4*1$1+ >.,>%+1+ B, $>+$01F )&%+>E&+ $4 O.01 .DE&,41+ =%&, &,&E&+%+$N O.%H4*$%+$ I&
?_a
'
&H=*+H+,1$%+$ *+(&& =%&@&,) 41&*&G$%+$ H+)&>$*F *+($*F $ $,$*(+G&>+*.% I& 014=+O&$,1+*.% Q,%3 SSXr?YYZR3 8>+$01F *+(+ *$ >$%+ 4,&& H+HD%& $& 887 $4 $@41 4, $=.%1 0+H,&O&>$1&@ $ %+01$D&*&1 $>>+04* H$& O$>&* $* =$>&+,[&*.% *$ $,$*(+G&>+ =41+%,&>+N >.,O.%H =%&,>&=&4*4& +>]&1FE&&N >A1 I& )%+=14* .%&>F%4& H+)&> )+ $ =%+0>%&+ >.,O.%H =%+(F1&%&&N %+0=.,0$D&*&1FE&& 0$*+N I& ,+@.&*.% =$>&+,14*4& Q5$HD$ +1 $*N ?YYXR ;$1.%&1F O$=14*4& >F *+(+$ $,1+%&.$%F )&, "X_X +%$ +f1%+H )+ %+01%&>1&@FN Q,4H$& 4, H+)&> =+ k4)+E =41+$ =%+0>%&+ .=&$>++ B, )4%+%&*+ .,>.*.(&>+RN $ O.01 I& +01+ ,+@.&+ )+ $ >.,1&,4$ +O.%14%&*+ )+ B,*F14%$%+ $ 4,+& o$D.%)F%& >$1$01%.O&>+o B, =%&@&,E$ 41&*&GF%&& H.%O&,+& I& )+%&@$E&*.% $>+01+&$ Qm$D$ +1 $*N ?YYXR3
X'KC')(&/"'* "3 `+%%} m;N 9+1+%0+, •-3N 8 0&,(*+ ).0+ .O ($D$=+,1&, %+)4>+0 $>41+ =$&, $,) $**.)},&$ &, =$1&+,10 ~&1] ]+%=+0 G.01+%N T+4%.*.(}3 ?YYZ 84( Xq_ZQSRdbbb'a3 ?3 ;+l$@+, x7N `+01 =%$>1&>+0 O.% $,&H$* >$%+ >.HH&11++0 $,) $,&H$* 40+ .@+%0&(]1N :-87 m3 ?YY?qbS P4==*dPZX'_?3 S3 64%.=+$, 2.4,>&*N 64%.=+$, 2.,@+,1&., O.% 1]+ 9%.1+>1&., .O g+%1+D%$1+ 8,&H$*0 40+) O.% 6f=+%&H+,1$* $,) /1]+% P>&+,1&O&> 94%=.0+0N "X\_N ]11=drr>.,@+,1&.,03>.+3&,1r5%+$1}r+,r5%+$1&+0r]1H*r"?S3]1H b3 J+%%+** `7N T.@} ;N P4**&@$, #;N `$,k$ mN ;4D.&0 #€N L&1*&, #2N l$H$1} ;N -+D.@&10 8N -&=H$, 8LN -&==+ 9#N -&@.@&>] mq 8H+%&>$, 9$&, P.>&+1}r8H+%&>$, 8>$)+H} .O 9$&, 61]&>0 5$0j J.%>+N 61]&>$* )&*+HH$0 &, =$&, H$,$(+H+,1N m 9$&,3 ?YY" m4,q?QSRd"a"' \Y3 Z3 L$41]&+% 2N L%&OO&, LN <0&,( $,&H$*0 &, %+0+$%>]N 1+01&,( $,) 1+$>]&,(N 7+@ P>& 5+>]3 ?YYZ 84(q?bQ?RdaSZ'bZ3 _3 L4&11&, 9N ;+>+**+ 53N J414%+ &H=%.@+H+,10 $,) &H=*+H+,1$1&., .O $,&H$* >$%+ =%$>1&>+0 ~&1]&, 1]+ $,&H$* 1+01&,( %+(4*$1.%} +,@&%.,H+,1N :-87 m3 ?YY?qbS P4==*dP\Y'b3 a3 l.4@+,$(]+* 83N 8,&H$* +f=+%&H+,10d *+($*N 0>&+,1&O&> $,) +1]&>$* $0=+>103 g+%] • 8>$) L+,++0j) `+*(3 ?YYYq_?Q?Rd"YS'"a3 \3 :8P9N 61]&>$* L4&)+*&,+0 O.% :,@+01&($1&.,0 .O 6f=+%&H+,1$* 9$&, &, 2.,0>&.40 8,&H$*0N "X\?N ]11=drr~~~3&,D34,$H3HfrD&.+1&>$r).>4H+,1.0r+1]&>$Ž(*Ž&,@+01Ž+f=+%Ž=$&,3=)O X3 m$D$ :#N 8G.&>$& ;N P.%.).> -N 5$HD$ `3N #$1+& #N #4,(&4 /2 N /=&.&) 8,$*(+0&>0 <0+ :, /,+ 7.H$,&$, 2.4,1} J.**.~&,( 5]+ :H=*+H+,1$1&., /O 5]+ T+~ -+(&0*$1&., 2.,>+%,&,( #+)&>$* <0+ /O/=&.&)0N `$0&>“ 2*&,&>$* 9]$%H$>.*.(} “ 5.f&>.*.(} g*"YZ `= _? 6= _?N?YYX "Y3 -+@+% :mN 7&>+ 8P3N 2$,,$D&,.&)0 $,) =$&,N l$,)D 6f= 9]$%H$>.*3 ?YYaqQ"aaRd?_Z'SY_ ""3 -.@+ 6mN #4%%+** mN x]$} l73N 5]+%H$* ,.>&>+=1&@+ 1]%+0].*) 1+01&,( &, ].%0+0d $ %+@&+~3 g+1 8,$+01] 8,$*(3 $,) ?Y""H+>]$,&>$* m$,qS\Q"RdS'"b "?3 9$11+%0., 9l3N #.)+*&,( $41&01&> O+$14%+0 &, $,&H$*0N 9+)&$1% 7+03 ?Y"" #$}q_XQZ 91 ?RdSb7'bY73
?_\
"S3 7&>]$%) 8 #4*$%0j&N #;N #PlPN J.} x]&1+'2]4N ;+@.%$] /@+%D$}N -.&0 #&**+%N P1+@+, # 80>] $,) -&,)$ L$,G&,&N #+$04%&,( 9$&, $0 1]+ Z1] g&1$* P&(, ;.+0 T.1 :H=%.@+ †4$*&1} .O 9$&, #$,$(+H+,1N m L+, :,1+%, #+)3 ?YY_ m4,+q ?"Q_Rd _Yae_"?3 "b3 7.($~0j& #83N #.*+>4*$% 1$%(+10 @+%040 H.)+*0 O.% ,+~ $,1&+=&*+=1&> )%4( )&0>.@+%}N 6=&*+=0} 7+03 ?YY_ m$,q_\Q"Rd??'\3 "Z3 740>]+ `3N 5]+ S70 $,) $,&H$* ~+*O$%+ ' >.,O*&>1 .% 1]+ ~$} O.%~$%) 8-56y3 ?YYSq?YQP4==* "Rd_S'a_3 "_3 P>]H+*G #3N 5%$,0*$1&,( ,.>&>+=1&@+ =%.>+00&,( &,1. ]4H$, =$&, H.)+*0N 6f= `%$&, 7+03 ?YYX m4,q"X_Q"Rd"aS'\3 6=4D ?YYX 8=% ?X3 "a3 P1+@+,0 2x 8*1+%,$1&@+0 1. 1]+ 40+ .O H$HH$*0 O.% =$&, %+0+$%>]N -&O+ P>&3 "XX?qZYQ"SRdXY"'"?3 "\3 P1.j+0 xPN l4H$,+ +,)=.&,10 O.% *$D.%$1.%} $,&H$*0 40+) &, %+(4*$1.%} 1+01&,(N :-87 m3 ?YY?qbS P4==*dPS"'\3 "X3 5$HD$ `:N m$D$ :#N 8G.&>$& ;N 2.k.>$%4 gN 8*D4 6N #4,(&4 /2N T., P1+%.&)$* 8,1&':,O*$HH$1.%} ;%4(0 :, T.%1]'6$01 7.H$,&$3 P4%@+} /, 5]+ <0+N m.4%,$* /O 2*&,&>$* 9]$%H$>.*.(} g* bX :0X `= "__N ?YYX ?Y3 x.%*) l+$*1] /%($,&G$1&.,N 9$&, *$))+%N ]11=drr~~~3~].3&,1r>$,>+%r=$**&$1&@+r=$&,*$))+%r+,
?_X
N450 %0,024;0 <27P7,N 93,90<51; ,0123X73;3%79 7, 94N21; ;4 ,7P0;1; !7!5061;17 !536453%,45
N120277 <20o0,50
-$4%$ 2]+>]+%&1$"N -&$,$ 8H&,.@"N ;$,$ #$f&H?N #$%&$ g$1$H$,"N -&*&$,$ J.&$? /@&)&4 P1$H$1&,S " ;+=$%1H+,1 /).,1.*.(&+'9$%.).,1.*.(&+ '9%.1+G$ O&f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f+ B,1%+ )&@+%0+*+ >.H=.,+,1+ $*+ 0&01+H4*4& 01.H$1.(,$1N =%+>4H I& B,1%+ $>+01+$ )&, 4%HF I& $,0$HD*4* >F%4&$ & 0+ &,1+(%+$GF3 C, >$)%4* >.%+*$E&&*.% )&,1%+ 0&01+H4* 01.H$1.(,$1 I& %+014* .%($,&0H4*4&N =%+>4H I& B,1%+ )&@+%0+*+ >.H=.,+,1+ $*+ 0&01+H4*4&N 4, *.> &H=.%1$,1 B* k.$>F $>1&@&1$1+$ ,+%@.$0F %+O*+fF O$@.%&G$1F )+ . D.($1F I& >.H=*+fF &,+%@$E&+ =+ >$%+ . =.0+)F 01%4>14%&*+ O$>&$*+3 7+O*+f4* H.1.% *$ ,&@+*4* 0&01+H4*4& 01.H$1.(,$1 =.$1+ O& 4, %+O*+f B,,F0>41 Q>.%+0=4,G$1.% =.G&E&+& )+ =.014%F $ H$,)&D4*+&R 0$4 ).DA,)&1 Q>.%+0=4,G$1.% =.G&E&+& )+ %+*$E&+ >+,1%&>FR3 C, 0&14$E&$ B, >$%+ ,+4%.,4* 0+,G&1&@ 0+ $%1&>4*+$GF 0&,$=1&> )&%+>1 >4 ,+4%.,4* H.1.%N %+O*+f4* 0+ H$& ,4H+I1+ I& %+O*+f H.,.0&,$=1&>N $I$ >4H +01+ >$G4* %+O*+f4*4& H&.1$1&> H$0+1+%&,3Q 23 #.%$%$04 +1 $*3 ?YYYR 7+>+=1.%&& 8("426'(' 1+*(*%28( 0+ (F0+0> *$ ,&@+*4* =&+*&& I& H4>.$0+& 04D O.%HF )+ 1+%H&,$E&& *&D+%+N )&O4G+N +f1%$>+*4*$%+N B, 0=+>&$* B, 01%$14* D$G$* $* +=&)+%H4*4& I& B, k4%4* @$0+*.% )+%H4*4&3 #$k.%&1$1+$ 04,1 O&D%+ H&+*&,&>+ 04DE&%&3 2+*+ $H&+*&,&>+ $4 4, $0=+>1 =*+f&O.%HN >$%+ ,4 O4G&.,+$GF >4 =*+f4%&*+ H&+*&,&>+3 ;+ O$=1N )&0=.G&1&@+ 1+%H&,$*+ %+>+=1.$%+ 0+ (F0+0> 04D @$%&$1+ H.)$*&1FE& B, 1+(4H+,1N H4>.$0FN $%1&>4*$E&+N H4I>]&N =+%&.01N )&,E& 0$4 )&@+%0+ $*1+ G.,+3 ;$1+ &H=.%1$,1+ =%&@&,) =$%1&>&=$%+$ .).,1.D*$I1&*.% *$ %+>+=1$%+$ )4%+%&& $4 O.01 %+*+@$1+ )+ >F1%+ `%ˆ,01…%H B, 1+.%&$ ]&)%.)&,$H&>F =%&, O+,.H+,4* >4,.0>41 04D )+,4H&%+$ )+ K$0=&%$E&+ .).,1.D*$01&>F3 2$,$*&>4*+*+ )+,1&,$%+ 0+ >.H=.%1F >$ ,&I1+ 14D4%& >$=&*$%+ >4 =+%+E& %&(&G&N &$% &,)+=F%1$%+$ $=+& )&, &,1+%&.%4* 14D4*4& )$1.%&1F I*+O4&%&& 0$4 0.*4E&&*.% >4 =%+0&4,+ .0H.1&>F H$& %&)&>$1FN )+1+%H&,F $0=&%$E&$ >.%=4*4& .).,1.D*$01&> >F1%+ *4H+,4* >$=&*$%N >++$N&=.1+G$ >+ )4>+0401&,41$ *$ $=$%&E&$ ,+%@.$0+ =4*=$%+ )+ @+>&,F1$1+ )+ )4%+%&& #$(*.>N=%&, )$% 01&H4*$%+$ >.,1%$G&0 )+1+%H&,$E&&*.% x&,1+%3 Q 23 #.%$%$04 +1 $* ?YYYR 9$%.).,E&4* %+=%+G&,1F 4, E+041 >4 . D.($1F &,+%@$E&+N >++$ >+ =%+04=4,+ &,1+%@+,E&$ 0$ B, %+(*$%+$ 4,.% O4,>E&& 01.H$1.(,$1&>+ >$%+ &H=*&>F =%+0&4,+$ $04=%$ )&,E&*.%3 #+HD%$,$ )+0H.).,1$*F =.0+)F ,+,4HF%$1+ ,&(<+*' "(*7%28( >$%+ 0+ O.%H+$GF =%&, %$H&O&>$%+$ 4,.% O$0>&>4*+ ,+%@.$0+ 04DE&%& N0=4,+ P&H=0., N>+ H+%( =$%$*+* >4 $f4* )&,1+*4& 3 8I$ >4H $4
?aY
)+H.,01%$1 *4>%F%&*+ *4& L%&OO&, I& P=+&,N 4, $0+H+,+$ =*+f +01+ O.%H$1 )&, $=%.f&H$1&@ ?Y )+ O$0>&>4*+ 0+>4,)$%+ )+0=%&,0+ )&, )&O+%&1+ O$0>&>4*+ =%&H$%+ I& >4=%&,GA,) $1A1 O&D%+ H&+*&,&G$1+ >A1 I& ,+H&+*&,&G$1+P4,1 %+=%+G+,1$1+ )+ H+>$,.%+>+=1.%& )$% I& ,.>&>+=1.%& H4*1&H.)$*&3Q 23 #.%$%$04 +1 $* ?YYYR -$ =%+0&4,+$ =+ )&,E& 0'$4 B,%+(&01%$1 =.1+,E&$*+ )+ $>E&4,+ B, ,+4%.,&& ,4>*+4*4& H+G+,>+O$*&>N ,4>*+4*4& 0+,G.%&$* =%&,>&=$* I& ,4>*+4*4& 0=&,$* $* ,+%@4*4& 1%&(+H+,3 8)$=1$%+$ $>+01.% %+>+=1.%& OF>A,)4'0+ B,>+1N 0'$ =%+040=40 . >4=*$%+ $ +f>&1$E&+& *$ $>+01 ,&@+*N %F0=4,04* H$f&H B,%+(&01%A,)4'0+ *$ . $,4H&1F )&%+>E&+ $ O.%E+&3 C,%+(&01%$%+$ 4,.% =.1+,E&$*+ )+ $>E&4,+ B, =+%&.$)$ )+ %+=$40 O$%$ . 0.*&>&1$%+ )&, =$%1+$ =$%.).,E&4*4&N $ O.01 =40F B, *+(F14%F >4 B,%+(&01%$%+$ @$%&$E&&*.% )+ =%+0&4,+ )$1.%$1+ =4*04*4& H+1$$%1+%&.*+*.% B, @+>&,F1$1+$ >F%.%$ 0+ $O*F %+>+=1.%&&N >++$ >+ $1%$(+ $1+,E&$ $04=%$ H$%&& 0+,0&D&*&1FE& $ $>+01.%$ )&, 4%HFQT3 J.%,$R 8%1&>4*$E&$ 1+H=.%.'H$,)&D4*$%F %+=%+G&,1F . &H=.%1$,1F G.,F %+O*+f.(+,FN )$1.%$1F 4,+& D.($1+ &,+%@$E&& =%+>4H I& &,1+%+0F%&& 0$*+ >$ +*+H+,1 +0+,E&$* B, 01$1&>$ I& )&,$H&>$ H$,)&D4*$%F3 x}j+ I& •*&,+D+%( $4 $%F1$1 =%&, 014)&& ,+4%.]&01.*.(&>+ I& ,+4%.O&G&.*.(&>+N >F %+>+=1.%&& $%1&>4*$E&+& 1+H=.%.'H$,)&D4*$%+ 04,1 $0+HF,F1.%& >+*.% )&, $*1+ $%1&>4*$E&& )&, .%($,&0H4* 4H$,3 C,1%+ %+>+=1.%&& $%1&>4*$%&N -$=.%1+ )+0>%&+ >.%=40>4*&& *4& 74OO&,&N .%($,+*+ 1+,)&,.$0+ $*+ *4& L.*(&N >.%=40>4*&& g$1+%'9$>&,& H.)&O&>$E& I& 1+%H&,$E&&*+ ,+%@.$0+ *&D+%+3 7+>+=1.%&& $%1&>4*$%& B,)+=*&,+0> O4,>E&& >.H=*+f+N $1A1 $%1&>4*$%'j&,+01+G&>+N >A1 I& )+ )&%&k$%+ I& >..%).,$%+ %+O*+fF $ )&O+%&1+*.% (%4=+ H40>4*$%+ >+ $0&(4%F H.D&*&1$1+$ .04*4& H$,)&D4*$%3 T4 04,1 04O&>&+,1 >4,.0>41+ )+1$*&&*+ >.H=.%1F%&& 0&01+H4*4& %+>+=1.% $%1&>4*$% B, >.,)&E&& O&G&.*.(&>+ I& >4 $1A1 H$& =4E&, &,O*4+,E$ =+ >$%+ $>+01$ . $%+ $04=%$ H40>4*$14%&& H.D&*&G$1.$%+ B, >.,)&E&& >+ )+=FI+0> >&%>4H01$,E+*+ O&G&.*.(&>+3QT3 J.%,$ R #4I>]&& H.D&*&G$1.%& $& H$,)&D4*+& =.0+)F . D.($1F &,+%@$E&+N $0&(4%$1F =%&, ,+%@&& >%$,&+,& >$%+ B& )+0+%@+0>3 P+,G.%&& =+%&O+%&>& $& $>1&@&1FE&& H40>4*$%+ 04,1d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•4D.1$ I& P]%+~'#.*+ $4 %+*+@$1 =%+G+,E$ O404%&*.% H40>4*$%+ B, H4I>]&& H.D&*&G$1.%& $& H$,)&D4*+&N )4=F >4H 4%H+$GFd *$ ,&@+*4* H$0+1+%4*4& %+>+=1.%&& O4G.%&$*& $4 O.01 B,1A*,&E& ,4H$& B, O$0>&>4*4* 0F4 =%.O4,) B, ,4HF% )+ ?Z =+ . $%&+ )+ +f$H+, )+ YNYZHH ?$bHHN =+,1%4 =1+%&(.&)&$,4* &,1+%, SY %+>+=1.%& =+ . $%&+ )+ YNY?HH?$SHHN =+,1%4 1+H=.%$* O$0>&>4* .%&G.,1$* aY O404%& =+ . $%&+ )+ YN"HH?$bHH I& ?a =+ . 04=%$O$EF )+ YNYaHH ?$?N_HH =+,1%4 O$0>&>4*4* @+%1&>$*3 Q 23 #.%$%$04 +1 $*?YYYR 2F&*+ $0>+,)+,1+ 0+,G&1&@+ *$ ,&@+*4* 0&01+H4*4& 01.H$1.(,$1 04,1 O.%H$1+ )+ ,+%@&& >%$,&+,& >$%+ $0&(4%$ 0+,0&D&*&1$1+$ )&@+%0+*.% 01%4>14%& O$>&$*+d %$H4%&*+ ,+%@4*4& 1%&(+H+,N O$>&$*N (*.0.'O$%&,(&$, I& @$(N %+=%+G+,1$,) . ).4$ +1$=F $ $%>4*4& %+O*+fN BHD%F>A,) $0=+>1+ =$%1&>4*$%+ *$ ,&@+*4* 0&01+H4*4& 01.H$1.(,$1N )$1.%&1F >.H=*+f&1FE&& 01%4>14%$*+ I& O4,>E&.,$*+ )+ *$ $>+01 ,&@+*3 /)$1F =*+>$1 )+ *$ ,&@+*4* %+>+=1.%4*4& =+%&O+%&>N 01&H4*4* ,+%@.0 +01+ >.,)40 )+'$ *4,(4* 4,.% >F& ,+%@.$0+ %+=%+G+,1$1+ )+ ,+%@&& >%$,&+,& >$%+ )+0+%@+0> 01%4>14%&*+ 01.H$1.(,$1&>+N )4=F >$%+ 0+ =.1 .=%& *$ ,&@+*4* 1%4,>]&4*4& >+%+D%$* 0$4 =.1
?a"
&H=%4H41$ >$& =.*&0&,$=1&>+ &,>*4G$,) &, $%>4* %+O*+f +1$k+ H$& H4*1 0$4 H$& =4E&, B,$*1+N B, O4,>E&+ )+ &,1+,0&1$1+$ I& 0+H,&O&>$E&$ O&G&.*.(&>F $ +f>&1$E&+& =+ >$%+ . >.,)4>3 9%.&+>E&$ >.%1&>$*F $ O&D%+*.% 0+,G&1&@+ $0>+,)+,1+ B,1%+(+I1+ &H$(&,+$ ].H4,>4*404*4& *4& 7$00H4,)0+,N B, >$)%4* >F%4&$ 0&01+H4*4& 01.H$1.(,$1 B& +01+ %+G+%@$1F . G.,F 04O&>&+,1 )+ B,1&,0FN =%.=.%E&.,$*F >4 )+,0&1$1+$ %+>+=1.%&*.% =+%&O+%&>& )+ *$ ,&@+*4* 01%4>14%&*.% O$>&$*+ I& .%$*+3 8%&&*+ >.%1&>$*+ +O+>1.%&& 04,1 *$ %A,)4* *.% BH=F%E&1+ B, H$& H4*1+ G.,+N B, O4,>E&+ )+ %.*4* =+ >$%+ B* $4 B, .%($,&G$%+$ I& )+>*$,I$%+$ $>14*4& H.1.%N >4,.0>A,)4'0+ $%&& $*+ H.1&*&1FE&& &)&.>&,+1&>+N 4,)+ + +*$D.%$1$ H&0>$%+$ N=%&, (+,+G$ &,O*4f4*4& H.1.% @.*4,1$%N $%&& $*+ H.1&*&1FE&& ].*.>&,+1&>+ >$%+ >.,)4> $>1&@&1$1+$ H.1.%&+ 0+H&@.*4,1$%F I& $41.H$1FN $%&& H.1.%&& )+ >..%).,$%+ >.%1&>.'>+%+D+*.$0+ I& $%&&*+ =0&].' H.1.%&& >$%+ =*$,&O&>F I& =%.(%$H+$GF H&I>$%+$3 #4I>]&& 0&01+H4*4& 01.H$1.(,$1 =%+G&,1F . $%&+ H.1.%&+ B,1&,0FN >.%+0=4,GF1.$%+ >.H=*+f&1FE&& *.% H.%O.*.(&>+ I& O4,>E&.,$*+3 C,1%+ $%&&*+ 0.H+01+G&>+ I& >+*+ H.1.%&& +f&01F *+(F14%& ,+%@.$0+N >$%+ =+%H&1 &,1+(%$%+$ &,O.%H$E&+& =+%&O+%&>+ I& +*$D.%+$GF $1&14)&,& >.%+0=4,GF1.$%+ >$&*.% )+0>+,)+,1+ =&%$H&)$*+ 0& +f1%$=&%$H&)$*+3 P&01+H4* =&%$H&)$* +01+ O.%H$1 )&, O&D%+ >.%1&>.O4(+ >+ =.%,+0> )+ *$ 1.$1+ )&@&G&4,&*+ 0+,G&1&@.'H.1.%&& $*+ >.%1+f4*4& >+%+D%$* I& >$%+ &,>*4)+d O$0>&>4*+*+ >.%1&>.'0=&,$*+N >.%1&>.'D4*D$%+ I& >.%1&>.',4>*+$%+ &$% 0&01+H4* +f1%$=&%$H&)$* +01+ >.,0&)+%$1 $ O& . )+%&@$E&+ )+ >.,)4>+%+ 0+>4,)$%F $ H+0$k+*.% 1.,&>+ =.014%$*+N $ H&I>F%&*.% $41.H$1+ I& $0.>&$1+N $*F14%& )+ >+*+ >..%).,$1.$%+ $*+ H&I>F%&*.% 0+H&@.*4,1$%+ 0$4 @.*4,1$%+ I& )+ &,]&D&E&+ $ >+*.% &,@.*4,1$%+N >F&*+ +f1%$=&%$H&)$*+ O.%H$,) 4, $,0$HD*4 )+ >&%>4&1+ +f1%$=&%$H&)$*+3 Q 23 #.%$%$04 +1 $* ?YYYR J+,.H+,4* )4%+%.0 &,1$*,&1 *$ ,&@+* )+ 0&01+H 01.H$1.(,$1 0+ >.H=4,+ )&,1%'4, >.H=*+f )+ 0&H=1.H+ 04D&+>1&@+ I& .D&+>1&@+ >$%+ $O+>1+$GF &, =%&,>&=$* H.%O.*.(&$ $%>$)+*.% )+,1.'$*@+.*$%+N (%+@A,) I& $04=%$ H.%O.*.(&+& I& O4,>E&+& =%&,>&=$*+*.% +*+H+,1+ $*+ 0&01+H4*4& 01.H$1.(,$1N &,&E&&,) )&0].H+.01$G&& $*+ B,1%+(4*4& 0&01+H3 J+,.H+,4* )4%+%.0N O&&,) >$1$*.($1 )%+=1 4, 0+H, 04D&+>1&@ O.$%1+ O%+>@+,1 &,1$*,&1 &, =$1.*.(&$ $O+%+,1$ 0&01+H4*4& 01.H$1.(,$1N =%+G&,1$ &, (+,+%$* >$4G+ 0& H$,&O+01$%& H4*1&=*+N =%+>4Hd ]&=+%+01+G&$ $*@+.*$%$N )4%+%+$ O$,1.H$N 0&,)%.H4* )+ D.,1 )4%+%.0N )4%+%+$ >.H=.,+,1$ $ 0&,)%.H4*4& )&0O4,>1&.,$* $* 0&01+H4*4& 01.H$1.(,$1 6f&01F @$%&$1+ )+O&,&E&& $1%&D4&1+ )4%+%&&N >+$ =%.=40F )+ :8P9 >.,O.%H >F%+&$ n)4%+%+$ +01+ $>+$ +f=+%&+,EF 0+,G&1&@'0+,G.%&$*F )+G$(%+$D&*FN $0.>&$1F >4 . *+G&4,+ 1&04*$%F =.1+,E&$*F 0$4 @+%&1$D&*FN 0$4 >4 . )+0>%&+%+ >$%+ 0+ %+O+%F *$ $>+$01$M O&&,) >+$ H$& *$%( $>>+=1$1$3 ;&,1%+ >*$0&O&>F%&*+ )4%+%&&N >+$ H$& +*.>@+,1F =$%+ $ O& >+$ =%.=40F )+ x..*O Q"X\XR I& >$%+ BH=$%1+ O+,.H+,4* )4%+%.0 B,d ;+*(*(2 ='4'%&%A'/3N %+G4*1$14* $>E&4,&& 01&H4*&*.% >$%+ =%&, 4,4* 0$4 H$& H4*E& =$%$H+1%& =+%&>*&1+$GF &,1+(%&1$1+$ 1&04*$%F 0$4 =%.)4> *+G&4,& *&H&1$1+q ;+*(*(2 ,2)%&%A'/3. *(,*(4(")2"1 0+H,$*4* )4%+%.0 >+ $%+ >$ =4,>1 )+ =*+>$%+ 4, •
•
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
?a?
>.D.%A%+$ =%$(4*4& &,)&@&)4$* )+ 0+,0&D&*&1$1+ )4%+%.$0F3 6f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n,+4%&,.$H+M B, >4%04* =%.>+04*4& )+ >&>$1%&G$%+ $ O&D%+*.% ,+%@.$0+ *+G$1+ =%&, +f1%$>E&$ )+,1$%F3QT3J.%,$R 2.H=*&>$E&&*+ *.>.'%+(&.,$*+ $=F%41+ =%&, $O+>1$%+$ +>]&*&D%4*4& D&.*.(&> I& H+>$,&> $* 0&01+H4*4& 01.H$1.(,$1 =.1 %+$*&G$ 1$D*.4* >*&,&> $* 4,4& $)+@F%$1 0&,)%.H )&0O4,>E&.,$* $* $>+014&$3 C, >$)%4* 0&,)%.H4*4& )&0O4,>E&.,$* $* 0&01+H4*4& 01.H$1.(,$1N )4%+%+$ .>4=F 4, *.> D&,+ 01$D&*&1N *.>$*&GA,)4'0+ O%+>@+,1 *$ ,&@+*4* 85#3 N@&*&*/ '> .'>+&)H@C +'."@>A?')>/C /C .'.?*H@C@' .?)H/?)(>/? 2+* H$& $)+0+$ B,1A*,&H O.%H$ >.H=*+fF )+.$%+>+ )+ >+*+ H$& H4*1+ .%& +01+ O.$%1+ (%+4 0$4 $=%.$=+ &H=.0&D&* )+ =%+>&G$1 =+ >$%+ +*+H+,1 0&01+H&> $ $>E&.,$1 O$>1.%4* )&0O4,>E&.,$*&G$,1 %+$*&GA,) )+D414* 0&,)%.H4*4&3 :H=*&>$%+$ =+ %A,) $ H$k.%&1FE&& 0$4 $ 1414%.% +*+H+,1+*.% 0&01+H&>+ >4 01$D&*&%+$ &,1+%%+*$E&&*.% H4*1&=*+ I& >.H=*+f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d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fF I& >4=%&,)+ 0&H=1.H+ 04D&+>1&@+ I& 0&H=1.H+ .D&+>1&@+3
?aS
N@&*&*/ /&?'A@C/&F ;4%+%+$ $%1&>4*$%F +01+ )+ &,1+,0&1$1+ @$%&$D&*F B,>+=A,) >4 )4%+%& 04%)+N @&&N =A,F *$ $)+@F%$1+ k4,(]&4%& 4,& 0$4 D&*$1+%$*+N $=$%+ B, %+=$40 I& =.$1+ O& +f$>+%D$1F B, H&I>$%+N )+ .D&>+& )&H&,+$E$N )&0=F%A,) )4=F >A1+@$ H&I>F%&3 9.$1+ $=$%+ I& )4=F =%A,G >$ 4%H$%+ $ .D.0+*&& I& 0.*&>&1F%&& $%1&>4*$E&+&3 601+ 14*D4%$%+$ $%1&>4*$E&+& 1+H=.%.'H$,)&D4*$%+N >$%+ )+1+%H&,F >+* H$& O%+>@+,1 =$>&+,E&& 0F 0.*&>&1+ 1%$1$H+,1N =+,1%4 >F $)+0+$ +& ,4'I& )$4 0+$H$ )+ +f&01+,E$ >%$>H+,14*4& 0$4 $ $*1.% 14*D4%F%& O4,>E&.,$*+3 ;4%+%+$ =+ >$%+ =$>&+,14* . $>4GF B, $%1&>4*$E&$ 1+H=.%.'H$,)&D4*$%F =.$1+ O&d )4%+%+ *.>$*FN )4%+%+ %+O+%&1FN )4%+%+ =0&].(+,F3 ;+*(*(2 1( %*'A'"( &%/2&3 0+ )$1.%+$GF =$1.*.(&+& *.>$*+ I& =.$1+ O& )+ .%&(&,+ 1%$4H$1&>F =%&, 1%$4H$1&0H $>41 0$4 >%.,&>N &,O+>E&.$0FN ,+.=*$G&>F 0$4 )+(+,+%$1&@F B, $%1%&1+*+ %+4H$1&>+3 ;4%+%+$ $%1&>4*$%F $=$%+ 4,& 0$4 D&*$1+%$* I& $%+N 4%HF1.$%+*+ G.,+ )+ &%$)&+%+ "3 7+(&4,+$ $%1&>4*$E&+& q ?3 <,(]&4* (.,&$>q S3 <%+>]+q b3 8%>$)$ G&(.H$1&>F Z3c.,$ $,1+%&.$%F %+(&4,&&q _3 c.,$ 04DH$,)&D4*$%Fq a3 7+(&4,+$ 04D.>>&=&1$*F3 ;+*(*(2 *(=(*')3 $=$%+ B, $%1&>4*$E&$ 1+H=.%.'H$,)&D4*$%FN )$% +01+ =%.)40F )+ =%.>+0+ =$1.*.(&>+ $=F%41+ B, $*1+ 0O+%+3 ;4%+%+$ %+O+%&1F =.$1+ =%.@+,& )&,1%'4, 0=$0H $* H40>4*$14%&& B,@+>&,$1+N B, 0=+>&$* )+ *$ H$0+1+% 0$4 =%&, $O+>E&4,& $*+ G.,+*.% B,@+>&,$1+d 4%+>]+N =$%.1&)FN .0&O&>$%+$ *&($H+,14*4& 01&*.]&.&)&$,N (*.0.)&,&&N >$%>&,.H ,$G.O$%&,(&$,N +1>3 ;+*(*(2 ,8'@%A("3 0$4 "(+*%A("3 +01+ 1&=4* >+* H$& %$% B,1A*,&1N )$% 1%+D4&+ >.,0&)+%$1F >$ . =.0&D&*&1$1+3 Q23 #.%$%$04 +1 $* ?YYYR 2.,O.%H 1+.%&&*.% )+,1.'H40>4*$%+N O&G&.*.(&>+ I& =0&].O&G&.*.(&>+N 0'$% =F%+$ >F H4I>]&& 0&01+H4*4& 01.H$1.(,$1 04,1 B,>%&H&,$E&N B, H$%+$ H$k.%&1$1+ $ >$G4%&*.%N B, =%.)4>+%+$ )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$13 ;&0O4,>E&$ 0&01+H4*4& 01.H$1.(,$1 =.$1+ )+D41$ >$ . 14*D4%$%+ =$%.).,1$*F 0$4 $%1&>4*$%FN )$% O&+>$%+ )&, $>+01+ 14*D4%F%& @$ $@+$ +O+>1 $04=%$ H4I>]&*.% H.D&*&G$1.%& $& H$,)&D4*+&3 8>+01 +O+>1 0+ H$,&O+01F 04D ).4F O.%H+d O&+ $ 4,4& .D01$>.* H+>$,&> B, )&,$H&>$ H$,)&D4*$%FN O&+ =+ >$*+$ )+O.%HF%&& &,O.%H$E&+& =%.=%&.>+=1&@+ >+ H.)&O&>F %+O*+f+*+ >4 =4,>1 )+ =*+>$%+ =+%&O+%&>N >4 &H=*&>$E&& B, %+(*$%+$ >.,1%$>E&+& H40>4*$%+3 2$ 4%H$%+ $ ,+>+0&1FE&& )+@&+%&& )&,$H&>&& H$,)&D4*$%+ )+ *$ 1%$&+>1.%&&*+ ,.%H$*+ )+ H&I>$%+N =%+>4H I& )$1.%&1F $=$%&E&+& %+O*+f+*.% ,.>&>+=1&@+N >.,1%$>E&$ H40>4*$%F 0+ H.)&O&>FN $1A1 )&, =4,>1 )+ @+)+%+ $* >..%).,F%&&N >A1 I& $* 1.,404*4& )+ %+=$40N $* >$=$>&1FE&& )+ %+G&01+,EF *$ +O.%13 P+ &,01$*+$GF ,+>..%).,$%+$ >.,1%$>E&+& H40>4*$%+N .D.0+$*FN 0=$0H H40>4*$%N )4%+%& B,0.E&1+ )+ 14*D4%F%& )+ &%&($%+N B,>]&GA,)4'0+ >+%>4* @&>&.03 N@&*&*/ [email protected]@C/&F 9.$1+ O& 0&,(4%4* 0&H=1.H $* )&0O4,>E&+& 0&01+H4*4& 01.H$1.(,$1 I& +01+ >$4G$1 )+ 0=$0H+*+ I& .D.0+$*$ H40>4*$%F3 ;4%+%+$ H40>4*$%F 0+ =.$1+ H$,&O+01$ 0=.,1$,N )$% =.$1+ O& )+>*$,I$1F *$ 1+,1$1&@+*+ )+ H.D&*&G$%+ $ H$,)&D4*+& 0$4 *$ =$*=$%+$ H$0+& H40>4*$%+N H$& $*+0 $ &,0+%E&&*.% H40>4*$%+3 9.$1+ *4$ $0=+>14* 4,.% H&$*(&& >4 0+)&4* B, >+,14%$ 0>$=4*$%FN H4I>]&& =%+@+%1+D%$*&N H4I>]&& (A14*4&N )$% H$& $*+0 B, H$0+1+%N 1+H=.%$*N =1+%&(.&)&$, +f1+%,3 601+ )+ &,1+,0&1$1+ @$%&$D&*FN 4,+.%& =+%H$,+,1FN .D*&(A,) D.*,$@4* 0F 01+$ >4 )&,E&& 01%A,I&N )A,)4'& . $1&14)&,+ )+ O$>&+0 >%&0=$13
?ab
C, +f=*&>$E&$ )4%+%&& H40>4*$%+N 4, %.* )+.0+D&1 B* $%+ H+>$,&0H4* 1%&((+%4*4& H&.O$>&$*3 5+%H+,4* &,1%.)40 )+ 5%$@+** I& 7&,G*+% B, =$1.*.(&$ H40>4*$%F $ 0&01+H4*4& 01.H$1.(,$1 $ O.01 O.*.0&1 )+ 6)+*j+, I& x$O+%1] B,>F )&, "XS_ =+,1%4 H40>4*$14%$ 0=$1+*4&3 C, =%&@&,E$ >.,)4>+%&& )4%+%&& I& $ H+>$,&0H4*4& )+ 1%$,0H&1+%+ *$ ,&@+*4* ,+4%.,&*.% )&, 04D01$,E$ (+*$1&,.$0F $ *4& 7.*$,).N $4 $=F%41 +*+H+,1+ ,.&N >$%+ H+%&1F $H&,1&1+3 ;4=F #$]$,N +f&01F ).4F 1&=4%& )+ ,+4%.,& 0+,G.%&$*& &,1+%+0$E& B, >.,)4>+%+$ 01&H4*4*4& )4%+%.0 )&, 01%4>14%&*+ 0&01+H4*4& 01.H$1.(,$13 / =$%1+ )&, $>+I1& ,+4%.,& =%+G&,1F O&D%+ H&+*&,&G$1+N >4 )&$H+1%4* H$%+N >4 =%$( 0>FG41 )+ 01&H4*$%+ I& . >.,)4>+%+ %$=&)F3 8* ).&*+$ 1&= )+ ,+4%.,& $%+ O&D%+*+ ,+H&+*&,&G$1+N >4 )&$H+1%4* H&>N >4 =%$( )4%+%.0 %&)&>$1 I& . >.,)4>+%+ *+,1F3 8HD+*+ O&D%+ 0+ 1+%H&,F B, ,4>*+4* (+*$1&,.0 $* *4& 7.*$,).3 -$ ,&@+*4* 04D01$,E+& (+*$1&,.$0+ $ *4& 7.*$,). +f&01F ).4F 1&=4%& )+ >+*4*+ &,1+%+0$1+ B, >.,1%.*4* I& 1%$,0H&1+%+$ )4%+%&&3 9%&H+*+ >+*4*+ 04,1 >+*4*+ 1&= 5N >$%+ K1%$,0H&1M &H=4*04* )4%+%.03 9+ 0.H$ ,+4%.,4*4& 5 O$> 0&,$=0F O&D%+*+ >4 )&$H+1%4* H$%+ Q;R I& O&D%+*+ >4 )&$H+1%4* H&> Q)R3 8HD+*+ O&D%+ $4 4, %.* +f>&1$,1 $04=%$ >+*4*+& )+ 1%$,0H&0&+ Q5R3 2+*4*+*+ H&>& $*+ 04D01$,E+& (+*$1&,.$0+ QPLR =%&H+0>N *$ %A,)4* *.%N $%1&>4*$%+$ 0&,$=1&>F $ >+*.% ).4F @$%&$,1+ )+ O&D%+ Q; I& )RN O&D%+*+ >4 )&$H+1%4* H$%+ Q;R $@A,) %.* +f>&1$1.%N &$% O&D%+*+ >4 )&$H+1%4* H&> Q)R $@A,) %.* &,]&D&1.% $04=%$ >+*4*+& %+0=+>1&@+ QPLR3 -$ %A,)4* +&N >+*4*+*+ PL BI& 1%&H&1 $f.,&& B, G.,$ =%+0&,$=1&>F $ D41.,&*.% 0&,$=1&>& $& O&D%+*.% >4 )&$H+1%4* H$%+ I& H&> Q;)R3 8>+$01F $%1&>4*$%+ $ >+*4*+& PL $04=%$ O&D%+*.% ; I& ) %+$*&G+$GF &,]&D&E&$ =%+0&,$=1&>F3 ;$>F 4, 01&H4* )4%+%.0 +f>&1F 1+%H&,$E&&*+ 1%&(+H&,$*+N &,O*4f4* ,+%@.0 =$%>4%(+ >4 @&1+GF 0=.%&1F O&D%+*+ >4 )&$H+1%4* H$%+N $k4,(A,) =%&H4* B, G.,$ 04D01$,E+& (+*$1&,.$0+3 6* +f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}01+HR3 Q#+*G$>jR P1$%+$ )+ $>&).GFN &0>]+H&+N $,.f&+N )+(+,+%$%+$ >.*$(+,4*4&N $ O&D%+*.% H40>4*$%+N +*&D+%$%+$ D%$)&j&,&,+& )+1+%H&,F =%.)4>+%+$ 4,.% 04D01$,E+ >]&H&>+ >$ =%.01$(*$,)&,+*+ 6?N 1%.HD.f$, `?N *+4j.1%&+,+ `b >$%+ $(%$@+$GF H.)&O&>F%&*+ *.>$*+3 6*&D+%$%+$ *.% =.$1+ O& D*.>$1F )+ $(+,E&& $,$*(+G&>&3 ;4=F 01&H4*$%+$ %+>+=1.%&*.% )+ >F1%+ 4, $(+,1 ,.>&@ +01+ (+,+%$1 4, &H=4*0 ,+%@.0 $O+%+,1 I& 1%$,0H&0 =%&, ,+%@&& =+%&O+%&>& *$ PT23 /)$1F >+ H+0$k4* )4%+%.0 $ $1&,0 PT2N 1%$,0H&0&$ I& H.)4*$%+$ )4%+%&& &H=*&>F H4*1+ 01%4>14%&d 0&01+H4* ,+%@.0 0=&,$*N 1$*$H40N >.%1+f >+%+D%$* I& 04D0&01+H+*+ O4,>E&.,$*+ $*+ PT2N >$ 0&01+H4* *&HD&>3 5.$1+ $>+01+ 01%4>14%& &,1+%$>E&.,+$GF B,1%+ +*+ =%&, &,1+%H+)&4* >.,+f&4,&*.% ,+4%.,$*+ >.H=*+f+ >+ &H=*&>F >F&*+ )+ 1%$,0H&1+%+ $0>+,)+,1+ I& )+0>+,)+,1+ Q*$ I& )+ *$ PT2R =+,1%4 1%$,0H&1+%+$ I& &,]&D$%+$ 1%$,0H&0&+& )4%+%&&N &,O*4+,EA,) $01O+* >$*&1$1+$ I& &,1+,0&1$1+$ )4%+%&&3 3Q23 #.%$%$04 +1 $* ?YYYRR8>+01+ >F& )+ 1%$,0H&1+%+ $ )4%+%&& 04,1 >$%$>1+%&G$1+ )+ $'%/@'9'2 "(+*%)*2"89'63)%*'&%* *.%3 ;+ >A,) $ O.01 &)+,1&O&>$1F =%&H$ )$1F 0+%.1.,&,$ >$ ,+4%.1%$,0H&EF1.% &,]&D&1.% $4 H$& O.01 &)+,1&O&>$E& I& $*E& ,+4%.1%$,0H&EF1.%& +,).(+,& QZYRd ,(,)'1(&( %,'%'1(. $()2:("1%*='"(&(. 9():("F(=2&'"(&(. 8+$8)2"62 O. /@%&(/'8)%F'"'"2 DLLnmE3 8>+I1&$ I& $*E& ,+4%.1%$,0H&EF1.%& $4 O.01 $1%$I& *$ ,&@+*4* %+>+=1.%&*.% )&, .%($,&0HN &,>*4GA,)
?aZ
>$*+$ )+ 1%$,0H&1+%+ 1%&(+H&,$*F I& 0+ >%+)+ >F 04,1 B, B,1%+(&H+ &H=*&>$E& B, H+>$,&0H+*+ )+ H.)4*$%+ $ )4%+%&& QP},)+%N "X\YR3 9%+G+,E$ 04D01$,E+& 9 B, >$,1&1$1+ >%+0>41F QH4>.$0+N 1+(4H+,1R +01+ 0+H,4* k+,+&N )&0>.,O.%14*4& I& $=.& $* )4%+%&&3 9%+0&4,+$ )+(+14*4& =+ $>+$01F G.,F %+O*+fF 0=+>&O&>F @$ $@+$ >$ +O+>1 +f=%&H$%+$ +f>+04*4& )+ 04D01$,EF 9 $>1&@$1F I& )+ 22• \ )&, =&+*+ >F1%+ HF)4@$ 0=&,F%&& I& PT23 C, =*40 =%&, $1+,E&$ =+ >$%+ . ,+>+0&1F $>+01 (+01 $>1&@+$GF >.%1+f4* =+ >$*+ *+H,&0>$*FN B, $>+*$I& 1&H= B, >$%+ &,1+%.(]+$GF >F&*+ $0>+,)+,1+ +f1%$*+H,&0>$*+3 6f>+04* &,O&H $* >.,>+,1%$E&+& )&, $>+01+ 01%4>14%& @$ )+>*$,I$ . )+0>F%>$%+ &H=.%1$,1F )+ H+1'+,j+O$*&,+ $ >F%.% >.,>+,1%$E&+ @$ >%+I1+ D%40> B, *3>3%3 >4 ZY'_Z{3 6,j+O$*&,+*+ I& D+1$'+,).%O&,+*+ 04,1 I+O&& )+ 0+%&+ $& 0&01+H4*4& )+ %+)4>+%+ 0$4 &,]&D$%+ $ &,O*4f4%&*.% ,.>&>+=1&@+3 :,1+%@+,E&$ *.% *$ 1.$1+ ,&@+*+*+ I& B, =$%1&>4*$% *$ ,&@+*4* K($1+'>.,1%.*M Q>.,1%.*4* )+ =.$%1FR k.$>F 4, %.* )+ H+>$,&0H H.)4*$1.% $* 01&H4*&*.% ,.>&>+=1&@&3 3Q 23 #.%$%$04 +1 $* ?YYYR 2+%>+1F%& %+>+,1+ Q†4&,, I& `$G$,N "XXYR 04D*&,&$GF =%+G+,E$ B, >.,>+,1%$E&& 0+H,&O&>$1&@+ $ ).& O$>1.%& =%.)4>F1.%& )+ )4%+%+d =%.01$(*$,)&,+*+ 6 ? I& *+4>.1%&+,+*+ `bN B, *&>]&)4* 0&,.@&$* >.*+>1$1 B, 1&H=4* >]&%4%(&+& $1%.0>.=&>+3 8>+I1& $41.%& ,4 0+ .=%+0> $04=%$ H+>$,&0H4*4& $=$%&E&+&N >& $@$,0+$GF &)++$ =.0&D&*&1FE&& (F0&%&& 4,.% H+)&>$H+,1+ >$%+ 0F &,]&D+ $D&*&1FE&*+ $>+01.% >.H=.,+,1+ 0F >$4G+G+ )4%+%+ I& &,O*$H$E&+3 8>+01+ ,.& >.,>+=1+ ,+4%.D&.*.(&>+ 04(+%+$GF >F )4%+%+$ +01+ &,O*4+,E$1F 0&H4*1$, )+ O$>1.%& H4*1&=*& >$%+ =.1 &,]&D$ 0$4 O$>&*&1$ H.)+*4* +f=+%&+,E+& ,.>&>+=1&@+ )+ >F1%+ 4, &,)&@&)3 8>+01 H.)+* $* )4%+%&&N B, =$%1&>4*$% $* )4%+%&& >%.,&>+N =.$1+ O& &,O*4+,E$1 )+ O$>1.%& >$%+ 0+ >%+)+ >F 04,1 &H=*&>$E& B, >.,1%.*4* )+0>+,)+,1 >$ B,@FE$%+$N +f=+>1$1&@$ I& $,f&+1$1+$ I& O$>1.%& &H=*&>$E& B, >.,1%.*4* $0>+,)+,1 >$ H.)$*&1FE&*+ )+ 1+%$=&+ O&G&>F 0$4 $,$*(+G&>+*+ $,1&&,O*$H$1.%&& ,+01+%.&)$*+3 2.,1%.*4* )4%+%&& =.$1+ O& $14,>& &,1+,0&O&>$1 >4 O$>1.%& H4*1&=*&N 41&*&GA,) . 0>]+HF 1+%$=+41&>F >.H=*+fF3Q 23 #.%$%$04 +1 $* ?YYYR p;+*(*(2 9'%=2/'2&3| +01+ 1+%H+,4* $=*&>$1 $>+*.% 0&,)%.$H+ )4%+%.$0+ >$%+ $4 .%&(&,+$ B, 01%4>14%&*+ H&.O$>&$*+3 c.,$ 1%&((+%4*4& H&.O$>&$* +01+ . G.,F H&>FN >&%>4H0>%&0FN >$%+ =%+G&,1F . ]&=+%$*(+G&+N )+ 4,)+ =*+$>F &H=4*04%& >+ D.HD$%)+$GF >%+&+%4*3 c.,$ )+ %+O+%&,EF +01+ G.,$ B, >$%+ 04,1 &,)40+ )4%+%+$N 0=$0H4* H40>4*$% I& $*1+ H$,&O+01F%& =%.@.>$1+ =%&,1%'. &%&1$E&+ $ G.,+& 1%&((+%3 5%$@+** I& 7&,G*+% $4 )+1+%H&,$1 G.,+*+ )+ %+O+%&,EF I& G.,+*+ 1%&((+% H$& O%+>@+,1+ =+,1%4 H4I>]&& H&.O$>&$*&3Q 23 #.%$%$04 +1 $* ?YYYR ;4%+%&*+ *$ )&01$,EF =.1 $=$%+ B, %+(&4,&*+ >+%@&>$*+N B, >+,14%$ 0>$=4*$%F +1>3 ;4=F J%.]*&>]N +*+ 0+ =%.&+>1+$GF B, $%>$)$ G&(.H$1&>FN (.,&.,N %$H $0>+,)+,1N %+(&4,+$ O%.,1$*FN .>>&=&1$*FN )+,1$%F3 `.*,$@4* &,0&01F B, 0=+>&$* $04=%$ $*(&&*.% D%$]&$*+N >+%@&>$*+N $4%&>4*$%+N .O1$*H&>+N )+ 4,)+ I& =.0&D&*&1$1+$ )+@&+%&& )&$(,.01&>4*4&3 T4 %$%+.%& )4%+%&*+ D%$]&$*+ 04,1 &,1+%=%+1$1+ I& 1%$1$1+ >$ 0=.,)&*&1+ >+%@&>$*+3 8*(&&*+ O$>&$*+ =.1 BHD%F>$ 4, >$%$>1+% )+ ,+@%$*(&&N 4,+.%& =.1 O& =%+>&0 )+O&,&1+ I& *.>$*&G$1+N $*1+.%& &$4 $0=+>14* 4,.% 0&H=$1$*(&&N =F%A,) H4*1$ )4%+%& @$0>4*$%+ )+>A1 ,+%@.$0+3 =.1 &%$)&$ %+(&4,+$ B, H$f&*$%NH$& =F%A,) O& >$4G$1+ )+ . 0&,4G&1FN )$% 0+ =.16*+ =%.&+>1$ I& B,B, *&HDFN *4A,)=$%.1&)&$,FN $0=+>14* 4,+& (*.0.)&,&&3 P+H,+*+ =$%.).,1$*+ $*+ )&0O4,>E&+& 0&01+H4*4& 01.H$1.(,$1 $=$% >$ . >.,0+>&,EF $ 04=%$0.*&>&1F%&& E+0414%&*.% )+ 040E&,+%+ =%&, )&0O4,>E&+ $%1&>4*$%FN H40>4*$%F 0$4 =%&, 1%$4HF .>*4G$*F3 -$ %A,)4* 0F4N $O+>1$%+$ =$%.).,1$*F )+ $*1F +1&.*.(&+ )+>A1 >+*+ $H&,1&1+ H$& 040N =%&, H.)&O&>$%+$ &,O.%H$E&+& =%.=%&.>+=1&@+ >4 =4,>1 )+ =*+>$%+ B, =$%.).,E&4* *+G$1N =%+>4H
?a_
I& =%&, 14*D4%F%& )+ .>*4G&+ =+ >$%+ *+ &,)4>+N =.$1+ )+1+%H&,$ &,01$*$%+$ 0&,)%.H4*4& )&0O4,>E&.,$* $* 0&01+H4*4& 01.H$1.(,$13 8I$ >4H >.,0&)+%$ L*&>jH$,,N E+0414%&*+ )+ 040E&,+%+ =$%.).,1$*+ ,4'I& =.1 H+,E&,+ 01%4>14%$ ,.%H$*F B, $D0+,E$ O.%E+*.% )+ .>*4G&+3 601+ )&O&>&* B,0F )+ 01$D&*&1 )$>F 1%$4H$ .>*4G$*F $%+ 4, %.* =%&H$% 0$4 0+>4,)$% B, &,01$*$%+$ 04O+%&,E+& =$%.).,1$*+3 2+%1 +01+ >F 1%$4H$ .>*4G$*F +01+ O$@.%&G$,1F &,01$*F%&& =$%.).,1.=$1&+& H$%(&,$*+3 5%$4H$1&G$1 =%&, O.%E+ .>*4G$*+ @+%1&>$*+N =$%$$f&$*+ 0$4 .%&G.,1$*+N =$%.).,E&4* BI& H$,&O+01F >*&,&> 04O+%&,E$ =%&, )4%+%+N >%+I1+%+$ H.D&*&1FE&&N %+>+0&4,+ =$%.).,1$*FN 0A,(+%$%+N H.)&O&>F%& >$,1&1$1&@+ I& >$*&1$1&@+ $*+ O*4&)4*4& (&,(&@$*3 N@&*&*/ G/&)+)>?/CF ;4%+%+$ )+ .%&(&,+ =$%.).,1$*F 0+ )$1.%+$GF 1%$4H$1&GF%&& =$%.).,1$*+ =%&, 04=%$0.*&>&1$%+ .>*4G$*F3 9.$1+ $=$%+ O&+ >$ 4%H$%+ $ )+=FI&%&& =%$(4*4& )4%+%.0 $* %+>+=1.%&*.% =$%.).,1$*& B, 4%H$ 4,4& 1%$4H$1&0H .>*4G$* &,1+,0 QD%4f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f$(+%$1+ =%&, 1%$4HF .>*4G$*F $ H&k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
?aa
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k+,F *$ H$01&>$E&+ )$1.%&1F 4,.% 4I.$%+ $(%+0&4,&N )4%+%& H$& H4*1 0$4 H$& =4E&, *.>$*&G$1+3 ;4=F 4,+*+ >+%>+1F%& 0'$% =F%+$ >F 1%$4H$1&0H4* .>*4G$* =%&H$%N B, $D0+,E$ 4,+& &%&1$E&& *.>$*+N ,4 )+1+%H&,F $=$%&E&$ )+ =4,(& (&,(&@$*+3 9%+G+,E$ 4,+& &%&1$E&& )4>+ *$ $*4,+>$%+$ >F1%+ $=+f $ &,0+%E&+& +=&1+*&$*+N )&01%4(+%+$ O&D%+*.% 1%$,00+=1$*+ I& )+0>]&)+%+$ 0=$E&4*4& =$%.).,1$*3 2++$ >+ %FHA,+ 4,$,&H $>>+=1$1 +01+ O$=14* >F 4, =$%.).,E&4 $O+>1$1 )+ 1%$4H$ .>*4G$*F =%+G&,1F H.)&O&>F%& 01%4>14%$*+ I& H+1$D.*&>+ >$%+ >%++$GF >.,)&E&&*+ =%.=&>+ &,01$*F%&& 4,+& &,O+>E&& H&>%.D&+,+N >4 1%$,0O.%H$%+$ &,+@&1$D&*F B,1%'. =$%.).,1&1F H$%(&,$*F >%.,&>F3 ;$>F 1%$4H$1&0H4* .>*4G$* $>E&.,+$GF $04=%$ 4,4& =$%.).,E&4 )+k$ $O+>1$1 )+ . =$%.).,1.=$1&+ H$%(&,$*F >%.,&>FN +* +01+ )+,4H&1 1%$4H$1&0H .>*4G$* 0+>4,)$%3 5%$4H$1&0H4* .>*4G$* 0+>4,)$% $%+ 4, +O+>1 $(%$@$,1 +@.*4E&+& D.*&&N $>>+,14A,) %+0.%DE&$ .0.$0FN *&G$ *&($H+,1+*.% =$%.).,1$*+ I& $*4,+>$%+$ &,0+%E&+& +=&1+*&$*+3 5%$1$H+,14* =%&, >]&4%+1$k $* =4,(&*.% =$%.).,1$*+ >4 H+,E&,+%+$ 1%$4H+& .>*4G$*+ ,4 $ )$1 %+G4*1$1+N >++$ >+ 04D*&,&$GF %.*4* 1%$4H+& .>*4G$*+ B, =$1.(+,&$ 04O+%&,E+& =$%.).,1$*+3 ;4=F #$($%D$,+ I& 5+>4>+$,4N 0+ )+0>%&4 1%+& 01$)&& $*+ 1%$4H$1&0H4*4& .>*4G$*d 01$)&4* )+ $(%+0&4,+N 01$)&4* )+ %+=$%$E&+ I& 01$)&4* )+ $)$=1$%+ =$%.).,1$*F3 C, 1&H=4* 01$)&4*4& )+ $(%+0&4,+ $>1&@&1$1+$ .01+.(+,&>F I& >.*$(+,&>F +01+ &,]&D$1FN =+,1%4 >$ B, >$G4* B, >$%+ 1%$4H$1&0H4* ,4 +01+ =%+$ =41+%,&> 0F O&+ 01&H4*$1+ =.0&D&*&1FE&*+ %+=$%$1.%&&3 ;$>F 1%$4H$1&0H4* >.,1&,4FN )+=FI&%+$ =.1+,E&$*4*4& %+=$%$1.% $%+ >.,0+>&,E+ =$%.).,1$*+ (%$@+3 ;$>F 1%$4H$ ,4 +01+ +f>+0&@FN 0+ =.$1+ $k4,(+ *$ $* 1%+&*+$ 01$)&4N >+* )+ $)$=1$%+ =$%.).,1$*F3 8=$%&E&$ 1%&0H404*4& *$ ,&@+*4* H4I>]&*.% %&)&>F1.%& QH$0+1+%N 1+H=.%$*R 0+ B,1A*,+I1+ B, 0&,)%.H4* )+ +f>&1$E&+ $* 1%&(+H+,4*4&3 P+ B,0.E+I1+ )+ )4%+%& H40>4*$%+ &,1+,0+N &H=.1+,EF O4,>E&.,$*FN )4%+%& $%1&>4*$%+N &H=.0&D&*&1$1+$ )+0>]&)+%&& (4%&&3 5%$1$H+,14* )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1 +01+ >.H=*+fN B, O4,>E&+ )+ )&$(,.01&>4* 01$D&*&1 I& 0&H=1.H$1.*.(&$ H$& H4*1 0$4 H$& =4E&, D.($1F $ O&+>F%4& >$G >*&,&> B, =$%1+3 9+,1%4 %+G.*@$%+$ 1+%$=+41&>F $ )&0O4,>E&&*.% 01.H$1.(,$1&>+ 0+ O$>+ $=+* *$ H&k*.$>+*+ )+ 1%$1$H+,1 @$%&$1+ I& H4*1&=*+ >$%+ 0+ =.1 (%4=$ B,1%'. .%&+,1$%+ =%.O&*$>1&>F I& 4,$ >4%$1&@F3 5%$1$H+,14* )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1 >4=%&,)+ 4, >.H=*+f )+ H+1.)+ 1+%$=+41&>+N H+)&>$H+,1.$0+ I& ,+H+)&>$H+,1.$0+ Q=%.1+1&>+N O&G&.1+%$=&>+N >]&%4%(&>$*+RN $ >F%.% 0+ &,1%&>FN $01O+* B,>A1 )+ ,4%+=.G&E&.,$%+$ 0+ =.$1+ )+*&H&1$ =%+>&0 1+%$=&$ $,$*(+G&>FN )+ =&*)FN )+ >+$$>E&4,+ $,1&%+4H$1&>FN H&.%+*$f$%+$ H$,)&D4*.'>%$,&$,F +1>3 ;$1 O&&,) O$=14* >F )4%+%+$ >$ 0&H=1.H $* )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1 >.,01&14&+ 4, +O+>1 $* 4,.% H.)&O&>F%& $%1&>4*$%+N H40>4*$%+N =$%.).,1$*+N .).,1$*+N .>*4G$*+N 1%$1$H+,14* )4%+%&& 0+ %+$*&G+$GF B, =%&,>&=$* =%&, 04=%&H$%+$ >$4G+&N $)&>F =%&, 1%$1$H+,14* >.H=*+f $* %++>]&*&D%F%&& 0&01+H4*4& 01.H$1.(,$1 =%&, H&k*.$>+ 0=+>&O&>+3
?a\
5%$1$H+,14* )4%+%&& =%&, $,$*(+G&>+ %+=%+G&,1F ,4H$& . 1+%$=&+ =$*+$1&@FN )+.$%+>+ ,4 04=%&HF >$4G$N >& )&H&,4F ).$% +O+>14*N $01O+* B,>A1N )4=F =+%&.$)$ )+ $>E&4,+ $ )%.(4*4& $,$*(+G&>N )4%+%+$ %+$=$%+3 5+%$=&$ >4 $,$*(+G&>+ $%+ 1.14I& . &H=.%1$,EF %+>4,.0>41F B, >$)%4* 1%$1$H+,14*4& )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1N +$ O&&,) ,+>+0$%F %+01$D&*&%&& >.,O.%14*4& =0&]&> $* D.*,$@4*4&N =%+>4H I& =+,1%4 $'* $k41$ B, 1%$@+%0$%+$ 4,.% =+%&.$)+ )&O&>&*+ =A,F *$ 04=%&H$%+$ >$4G+&3 5+%$=&$ $,$*(+G&>F 0+ 41&*&G+$GF 1.1)+$4,$ >.,>.H&1+,1 >4 1+%$=&$ =0&].1%.=F >$%+ =.1+,E+$GF $>E&4,+$ $>+01.% H+)&>$H+,1+ Q#.%$%$04 2 +1 $* ?YYYR3 8)H&,&01%$%+$ )%.(4*4& $,$*(+G&> 0+ O$>+ B, H.H+,1+*+ )+ &,1+,0&1$1+ H$f&HF $ )4%+%&&N =%+@+,1&@ B,$&,1+ )+ H$0F =+,1%4 )4%+%+$ =%.@.>$1F )+ H$01&>$E&+ 0$4 0+$%$ B,$&,1+ )+ >4*>$%+ =+,1%4 $ $0&(4%$ 4, 0.H, >.,O.%1$D&*3 5%$1$H+,14* )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1 >4=%&,)+ 4, >.H=*+f )+ H+1.)+ 1+%$=+41&>+N H+)&>$H+,1.$0+ I& ,+H+)&>$H+,1.$0+ Q=%.1+1&>+N O&G&.1+%$=&>+N >]&%4%(&>$*+RN $ >F%.% $>E&4,+ 0+ &,1%&>FN $01O+* B,>A1 ,4 0+ =.$1+ )+*&H&1$ =%+>&0 1+%$=&$ $,$*(+G&>FN )+ =&*)FN )+ >+$ $,1&%+4H$1&>FN H&.%+*$f$%+$ )+ %+=.G&E&.,$%+$ H$,)&D4*.'>%$,&$,F +1> ;$1 O&&,) O$=14* >F )4%+%+$ >$ 0&H=1.H $* )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1 >.,01&14&+ 4, +O+>1 $* 4,.% H.)&O&>F%& $%1&>4*$%+N H40>4*$%+N =$%.).,1$*+N .).,1$*+N .>*4G$*+N 1%$1$H+,14* )4%+%&& 0+ %+$*&G+$GF B, =%&,>&=$* =%&, 04=%&H$%+$ >$4G+&N $)&>F =%&, 1%$1$H+,14* >.H=*+f $* %++>]&*&D%F%&& 0&01+H4*4& 01.H$1.(,$1 =%&, H&k*.$>+ 0=+>&O&>+ Q#.%$%$04 2 +1 $* ?YYYR3 C, 1%$1$H+,14* )4%+%&& $=F%41+ B, 0&,)%.$H+*+ )&0O4,>E&.,$*+ $*+ 0&01+H4*4& 01.H$1.(,$1N &,)&>$E&$ )+ +*+>E&+ . $4 2"2&A(4'/(&( 2")'*(+92)'892&( >$%+ $4 I& +O+>1+ 0+>4,)$%+ $,1&=&%+1&>+3 5+%$=&$ >4 $,$*(+G&>+ $%+ 1.14I& . &H=.%1$,EF %+>4,.0>41F B, >$)%4* 1%$1$H+,14*4& )&0O4,>E&&*.% 0&01+H4*4& 01.H$1.(,$1N +$ O&&,) ,+>+0$%F %+01$D&*&%&& >.,O.%14*4& =0&]&> $* D.*,$@4*4&N =%+>4H I& =+,1%4 $'* $k41$ B, 1%$@+%0$%+$ 4,.% =+%&.$)+ )&O&>&*+ =A,F *$ 04=%&H$%+$ >$4G+&3 5+%$=&$ $,$*(+G&>F 0+ 41&*&G+$GF 1.1)+$4,$ >.,>.H&1+,1 >4 1+%$=&$ =0&].1%.=F >$%+ =.1+,E+$GF $>E&4,+$ $>+01.% H+)&>$H+,1+3 X'KC')(&/"'* "3 8*D&,. m6T'J@( >2)'%"2& P"8)')+)(8 %= M(2&)@ J(/@"%&%AH N88(889(") L%"=(*("/( 8)2)(9(") %" )@( 92"2A(9(") %= )(9,%*%92"1'$+&2* 1'8%*1(*8 N m /%$* 7+]$D&*N "?aN *ZXZ'XN "XX_ ?3 `%4,. P8' >(+*%9+8/+&2* 1'8)+*$2"/(8 /2+8'"A )(9,%*%92"1'$+&2* 1H8=+"/)'%" 2"1 ,2'" 3 m 9%.01]+1 ;+,1N ?_N S\a'XZN "Xa" S3 `4%*4& g3 #.%$%$04 23L,$1.*.(&+ >*&,&>$ ?YYYN :$0& N+)&14%$ 8=.**.,&$3 b3 `4%*4&N g3N3 U2&*(&2)''&( /*2"'%:92"1'$+&2*(. 6)3 8=.**.,&$N :$0&N ?YY? Z3 `4%*4&Ng3N . 7+@3 #+)3 2]&,N T.3 bN"X\"N=3 _Z"3 _3 `4%*4&N g3N I& >.* : O*%)()'/3 1(")2*3. >4%0 *&1.(%$O&$1N -&1.(%$O&$ -#3J3N :$I&N "X\X3 a3 `4H$,, 8N -.1GH$,, <' L%&%* N)&28 %= ;(")2& U(1'/'"(. JUV ;'8%*1(*8 2"1 d*%=2/'2& O2'". J@( T%&( %= ;(")'8)*H '" 2 U+&)'1'8/',&'"2*H ;'2A"%8)'/ N,,*%2/@ q 6)3 7$1+&10>]$j'x.*ON ?YY?3 \3 J.%,$ T' JTNJNJ ;Y OTdJYJPLN q 6)3 ;6#:<7LN :$I&N ?YYX3 X3 J.%,$ T3 I& >.*' O*%)()'/3 1(")2*3 N @.*4H4* :N6)3 6,>&>*.=+)&>$N N :$I&N ?Y"" "Y3 J.%,$ T3 I& >.*' O*%)()'/3 1(")2*3 N @.*4H4* ::N6)3 6,>&>*.=+)&>$N N :$I&N ?Y"" ""3 J.%,$ T3N 8>14$*&1FE& B, 2*&,&>$ ^& 5+%$=&$ 6)+,1$E&+& 9$%E&$* C,1&,0+N 6)&13 KL%3539.=$MN ?YYX
?aX
"?3 L.*$ 7N 2].00+(%.0 2N /%1]*&+D m;3IH"1*%9( N&A%1H8=+"/)'%""(& 1( Po2,,2*('& 92"1+/2)(+* DIN;NUE 3 6) #$00.,N 9$%&0N "XX? "S3 J%&>1., m373 ' 7+>+,1 8)@$,>+0 &, 5+H=.%.H$,)&D4*$% ;&0.%)+%0N m3 8;8N @.*3 "??N ?Z'S?N "XX"3 "b3 J4j4)$ #N €$H$0]&1$ PN •$~$(4>]& 5N x$1$,$D+ #N #4%$j$H& lN 5$j$. 5N 5$,$j$ 73' 8D,.%H$* H40>*+ %+0=.,0+ H.,&1.%&,( )4%&,( H&>%.@$0>4*$% )+>.H=%+00&., O.% ]+H&O$>&$* 0=$0H $,) *.,( 1+%H %+04*10N T. P]&,j+& L+j$3 ?YY_ m4,qSbQ_RdZ\S'X3 m$=$,+0+3 "Z3 ""L$G&1 6N -&+D+%H$, #N 6&,& 7N l&%0>] TN P+%O$1} gN +1 $*d 9%+@$*+,>+ .O H$,)&D4*$% )}0O4,>1&., &, "Y'"\ }+$% .*) :0%$+*& 0>]..*>]&*)%+,N m /%$* 7+]$D&* " :N =( SYa'S"aN "X\b3 "_3 L+*D l3 ' 2*&,&>$* #$,$(+H+,1 .O l+$)N T+>j $,) 5#m 9$&, $,) ;}0O4,>1&.,N 9]&*$)+*=]&$ x3`3 P$4,)+%0 2.N "X\Z3 "a3 L*$%.0 8L' 6H.1&.,$* O$>1.%0 &, 1+H=.%.H$,)&D4*$% k.&,1 )&0.%)+%0N m :,)&$,$ ;+,1 800.> aXN =( ?Y'?SN ?YYY3 "\3 L*$%.0 8LN /~$&0 cN -$401+, -3' o7+)4>1&., &, =$%$O4,>1&.,$* $>1&@&1}d $ =.1+,1&$* H+>]$,&0H O.% 1]+ +OO+>1&@+,+00 .O 0=*&,1 1]+%$=}oN m /%$* 7+]$D&*3 ?YYa J+DqSbQ?RdXa' "Yb3 "X3 L.*$ 73N 2].00+(%.0 2N /%1]*&+D m3;3 ' P},)%.H+ 8*(.)}0O4,>1&.,,+* )+ :‹$==$%+&* H$,)4>$1+4% QP8;8#N #$00.,N 9$%&0N "XX?3 ?Y3 L.H+G'L$%%+ 9N L41&‡%%+G';+*&>$). 6N L.H+G'8D$) 2N #.%$*+0'2.%%$*&G$ mN L%$} 7mN †4$}*+ 88N l$* m 28N P>].O&+*) #8' 9]}0&.1]+%$=} &, 1]+ 1%+$1H+,1 .O 1+H=.%.H$,)&D4*$% k.&,1 )&0.%)+%0d $ >.H=$%$1&@+ 014)} .O O.4% 1%+$1H+,1 H+1].)0N `% ;+,1 m "a_N =( ?Za'?_"N "XXb3 ?"3 J$%%4(&$ #6N •+,,+11 79N l&*1.,'m.,+0 ;N T+~0.H';$@&0 mN g&,>+,1 83'†4$,1&1$1&@+ 6#L .O O$>&$* H40>*+0 &, H}$01]+,&$ =$1&+,10 ~&1] #4P• $,1&D.)&+0N 2*&, T+4%.=]}0&.*3 ?YYa J+Dq ""\Q?Rd?_X'aa3 6=4D ?YY_ ;+> \3 ??3 J>&,+ mPN -4,) m9' 8, $00+00H+,1 .O 1]+ +OO&>$>} .O =]}0&>$* 1]+%$=} $,) =]}0&>$* H.)$*&1&+0 O.% 1]+ >.,1%.* .O >]%.,&> H40>4*.0j+*+1$* =$&,N 9$&, a"N =( Z'?SN "XXa3 ?S3 J%&>1., m373 ' 9%+)&>1.%0 .O /41>.H+ O.% 5%+$1H+,1 .O 5+H=.%.H$,)&D4*$% ;&0.%)+%0N m3 .O /%.O$>&$* 9$&,N "YQ"Rd Zb_ZN "XX_ ?b3 ;+ -$$1 83 ' 7+O*+f+0 6*&>&1$D*+ &, m$~ #40>*+0 $,) 1]+&% 7.*+ )4%&,( m$~ J4,>1&., $,) ;}0O4,>1&.,d 83 7+@&+~ .O -&1+%$14%+33 9$%1 ""d 7+O*+f+0 l4H$, m$~ #40>*+0 )4%&,( J4,>1&., $,) ;}0O4,>1&., 1. 1]+ #$01&>$1.%} P}01+HN m3 2%$,&.H$,)3 9%3N ZN SSS'SbSN "X\a3 ?Z3 ;+`.+@+% m8N 8)%&$+,0 98' />>*40$* %+*$1&.,0]&= &, =$1&+,10 ~&1] =$&,')}0O4,>1&., 0}H=1.H0 &, 1]+ 1+H=.%.H$,)&D4*$% k.&,1N m /%$* 7+]$D&* "YN =( "'aN "X\S3 ?_3 ;& J$D&. 79' 9]}0&>$* 1]+%$=} O.% =$1&+,10 ~&1] 5#;d $ )+0>%&=1&@+ 014)} .O 1%+$1H+,1N )&0$D&*&1}N $,) ]+$*1] 01$140N m /%.O$> 9$&, "N =( "?b'"SZN "XX\3 ?a3 ;&.,,+ 78' 9]$%H$>.*.(&> O.%"Sb'"b?N 1+H=.%.H$,)&D4*$% )&0.%)+%0N /%$* P4%( /%$* #+) /%$* 9$1].* /%$* 7$)&.*1%+$1H+,10 6,).) \SN =( "XXa3 ?\3 g$%*+1 gN -$H} #3 5+H=.%.H$,)&D4*$% k.&,1 )&0+$0+03 7+@ #+) -&+(+3 ?Y"? m4*'84(q_aQa' \Rdb?Y'b3 ?X3 54%,+% mN #$00.1] ;N -+7+0>]+ -N 5%4+*.@+ 63 N *2"1%9'4(1 /&'"'/2& )*'2& +8'"A *(8(2*/@ 1'2A"%8)'/ /*')(*'2 =%* )(9,%*%92"1'$+&2* 1'8%*1(*8:2<'8 PP )% )2*A() /&'"'/ /28(8 =%* 2 )2'&%*(1 8(&=:/2*( JU; )*(2)9(") ,*%A*29C m /%.O$> 9$&,3q"_Q"Rdb\'_SN ?YY?3
?\Y