" #$%&'(( )*+,'(($+&-./( 01$2' %+ %3' 4'1*+ 5'6+.1%$+& 7*8 9*$: ;+<<
" #$%&'(( )*+,'(($+&-./( 01$2' %+ %3' 4'1*+ 5'6+.1%$+& 7*8 9*$: ;+<<
!"#$%& "( %")*+$,-# . /&0$%12 0$3%21$/&+
Copyright © 2014 by Z-Health® Performance Solutions, LLC Published and distributed in the United States by: Z-Health® Performance Solutions, LLC 8380 S. Kyrene Road, Suite 101 Tempe, AZ 85284 www.zhealtheducation.com 144 56789: 5;:;5<;=> !? @A59 ?B 986: C??D EAF C; 5;@5?=GH;= CF AIF E;AI: ?5 6I AIF B?5E J8A9:?;<;5K I?5 EAF 69 C; :9?5;= 6I A 5;956;
1ST Edition January 2014 2nd Edition July 2014 DISCLAIMER
#8; 6IB?5EA96?I @5?<6=;= CF ON-;A498 );5B?5EAIH; 3?4G96?I:K 22% PQON-;A498RS 6: :956H94F 6I9;I=;= B?5 F?G5 7;I;5A4 DI?J4;=7; AI= B?5 6IB?5EA96?IA4 @G5@?:;: ?I4F> #8; 6IB?5EA96?I H?I9A6I;= 6I 986: ?5 AIF ON-;A498 EA9;56A4K @GC46HA96?I:K ?5 J;C:69; PH?44;H96<;4F QON-;A498 )5?=GH9:RS 6: I?9 9? C; H?I:95G;= A: E;=6HA4 5;H?EE;I=A96?I:K E;=6HA4 A=<6H;K =6A7I?:6:K 95;A9E;I9K ?5 A: @5?B;::6?IA4 A=<6H;K I?5 6: 69 6I9;I=;= B?5 G:; A: A :GC:969G9; B?5 H?I:G49A96?I J698 ?5 A=<6H; 76<;I CF A E;=6HA4 @5AH9696?I;5K 8;A498 HA5; @5AH9696?I;5K ?5 B69I;:: @5?B;::6?IA4> T;B?5; C;76II6I7 986: ?5 AIF ;U;5H6:; ?5 IG95696?IA4 @5?75AEK F?G :8?G4= H?I:G49 J698 F?G5 @8F:6H6AI> !;698;5 ON-;A498K 69: ABB646A9;:K A7;I9:K I?5 AIF ?98;5 @A59F 6I ON-;A498 EAD;: I? 5;@5;:;I9A96?I AI= A::GE;: I? 5;:@?I:6C6469F B?5 98; AHHG5AHF ?B 6IB?5EA96?I H?I9A6I;= 8;5;6I ?5 6I AIF ON-;A498 )5?=GH9> ON-;A498 :@;H6B6HA44F =6:H4A6E: A44 5;:@?I:6C6469F AI= :8A44 I?9
C; 5;:@?I:6C4; B?5 AIF 46AC6469FK 4?:: ?5 56:DK 6IVG5FK =AEA7;K @;5:?IA4 ?5 ?98;5J6:;K J86H8 6: 6IHG55;= A: A H?I:;WG;IH;K =65;H94F ?5 6I=65;H94F B5?E 98; G:; ?5 A@@46HA96?I ?B AIF ?B 98; EA9;56A4 H?I9A6I;= 6I 986: @5?=GH9 ?5 AIF ON-;A498 )5?=GH9> ON-;A498 =?;: I?9 5;H?EE;I=K ;I=?5:;K ?5 EAD; AIF 5;@5;:;I9A96?I AC?G9 98; ;BB6HAHFK A@@5?@56A9;I;::K ?5 :G69AC6469F ?B AIF :@;H6B6H 9;:9:K @5?=GH9:K @5?H;=G5;:K 95;A9E;I9:K :;5<6H;:K ?@6I6?I:K 8;A498 HA5; @5?<6=;5:K ?5 ?98;5 6IB?5EA96?I 98A9 EAF C; H?I9A6I;= ?I ?5 A ON-;A498 :8A44 I?9 C; 5;:@?I:6C4; ?5 46AC4; B?5 98; H?I9;I9K G:;K 6IB?5EA96?IK ?5 @5?=GH9: AI= :;5<6H;: ?B 98;:; 5;:?G5H;:> 1==696?IA44FK ON-;A498 :8A44 I?9 C; 8;4= 5;:@?I:6C4; B?5 98; H?I=GH9 ?B AIF H?E@AIFK J;C:69;K ?5 6I=6<6=GA4 E;I96?I;= 6I 986: @5?=GH9K A::?H6A9;= J;C:69;:K ?5 AIF ON-;A498 )5?=GH9> *?G A5; ;IH?G5A7;= 9? H?IB65E AIF 6IB?5EA96?I ?C9A6I;= B5?E ?5 985?G78 986: @5?=GH9 ?5 AIF ON-;A498 )5?=GH9 J698 ?98;5 :?G5H;:K AI= 5;<6;J A44 6IB?5EA96?I 5;7A5=6I7 AIF E;=6HA4 H?I=696?I ?5 95;A9E;I9 J698 F?G5 @8F:6H6AI> 38?G4= F?G 8A<; AIF 8;A498HA5;N5;4A9;= WG;:96?I:K @4;A:; HA44 ?5 :;; F?G5 @8F:6H6AI ?5 ?98;5 8;A498HA5; @5?<6=;5 6EE;=6A9;4F> *?G :8?G4= I;<;5 =6:5;7A5= E;=6HA4 A=<6H; ?5 =;4AF 6I :;;D6I7 69 C;HAG:; ?B :?E;986I7 98A9 F?G 8A<; 5;A= 8;5; ?5 6I AIF ON-;A498 )5?=GH9:> #8; ?@6I6?I: ;U@5;::;= 6I 986: @GC46HA96?I 5;@5;:;I9 98; <6;J: ?B ON-;A498 );5B?5EAIH; 3?4G96?I:K 22%> $B F?G 8A<; WG;:96?I:K @4;A:; H?I9AH9X 6IB?YZ8;A498>I;9>
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
J3' )*+>*$+:'>%$6' =B(%'L R+6'L'&% #.1'&:B J3' #1%1*' +, %3' #$%&'(( ?&21(%*B 9&(1*' @+1* =1::'(( J3*'-% 4'1*+L-%*$O 7'L+&(%*-%$+& @+1* S>>+*%1&$%B %+ 9O:'. "::'(($&I %3' A+&1( "12$+ -&2 Q$2'+ A+&1( ?&%'*6$'T C3-% ?( DEF'-.%3 7*8 ;+<>.$:-%$+& J3' S&.B C-B J+ #-$. =1::'((,1..B R-P$&I " ;3-&I' DEF'-.%3 J3' A1($&'(( Y+&IEJ'*L DEF'-.%3 0+-.( "*' @+1 =%-B$&I ;1**'&%G DEF'-.%3H( ;'*%$,$:-%$+& ;+1*('( C3B "%%'&2 " DEF'-.%3 ;+1*(' DEF'-.%3H( R$(($+&Z;3-*%'* J3' 9(('&%$-.( +, 9.$%' )'*,+*L-&:' F'BX ? ;-& 5-$(' RB "*L(
/?5; +;:G49 39?56;:
-.%/0"$ 1'+% $ ?5676IA44F :8A5;= 98; B?44?J6I7 6IB?5EA96?I A9 !)&[: /;7A #5A6I6I7#/> 1B9;5 A IGEC;5 ?B ON-;A498 95A6I;5: B?GI= ?G9 AC?G9 98; @5;:;I9A96?IK 98;F G57;= E; 9? EAD; 98; 6IB?5EA96?I E?5; J6=;4F A #8; C;:9 JAF 9? =? 98A9 JA: 9? 9AD; 98; 5;H?5=6I7K 8A<; 69 95AI:H56C;=K AI= EA=; A \; 8A<; EA=; ;<;5F ;BB?59 9? ;=69 98; 95AI:H56@96?I AI= 9? D;;@ 98; E;::A7; AI= H?I9;U9 6I9AH9> $B F?G :H5?44 9? 98; ;I= ?B 98; C??DK F?G J644 :;; A 46ID 9? A @56 $ AE EAD6I7 98;E A #8; @56 &IV?F^
2*+3'45/+0'* $ J644 :9A59 CF @5?<6=6I7 A 46994; CAHD75?GI= ?I ON-;A498 );5B?5EAIH; AI= EF:;4B> $ 9A4D 6I B5?I9 ?B 75?G@: AIFJ8;5; B5?E __` 9? _`a =AF: A F;A5> $ 9;AH8 EG4964;<;4 H;596B6HA96?I @5?75AE: A44 ?<;5 98; H?GI95F> $ I?5EA44F 9;AH8 B?G5N 9? :6UN=AF J?5D:8?@:> $ =? I?9 ;<;5 G:; I?9;: J8;I 9;AH86I7K :? $ 9;I= 9? VG:9 :9A59 AI= 7?> /F 7?A4 6: 9? 76<; F?G :?E; 9AD;AJAF 9??4: AI= H?IH;@9: 9? C;99;5 @?6I9 F?G 6I AI ;BB;H96<; =65;H96?I B5?E A EA5D;96I7 @;5:@;H96<;> "G5 H?E@AIF[: EA5H86I7 ?5=;5:K 6B F?G J644K A5; CA:;= ?I 98; 6=;A 98A9 J; 95A6I 98; 9?@ ?I; @;5H;I9> $B F?G JAI9 9? C; A: 7??= A: F?G HAI C;K F?G I;;= :F:9;E: 9? EAD; 98A9 8A@@;I> #8A9 6: J8F F?G A5; 8;5; PA9 !)&b: /;7A #5A6I6I7#/S> \; HAII?9 C; 7??= A9 ;<;5F986I7K AI= :? J; I;;= :F:9;E: 6I @4AH; 9? 8;4@ G: 9? C; 7??= A9 98; 986I7: 98A9 J; A5; I?9 :? 7??= A9 =?6I7c ?5 98?:; 986I7: 98A9 A5; I?9 ?G5 IA9G5A4 76B9 ?5 GI6WG; AC6469F> \8A9 J; A5; 7?6I7 9? 9A4D A 4?9 AC?G9 9?=AF 6: 98; C5A6I> \; A5; 7?6I7 9? 9A4D AC?G9 I;G5?4?7F> 3;AI PJ698 !)&S :A6= :?E;986I7 6I9;5;:96I7 ?I 986: :GCV;H9> -; :A6=K Q\8A9 98;F[5; =?6I7 6: EAFC; da ?5 _a F;A5: A8;A= ?B J8A9 F?G[5; 7?6I7 9? :;; HG55;I94F 6I 98; CG:6I;::> R $ J?G4= :AF 98A9 6: <;5F AHHG5A9;>
60$+%3 7((%/+ -?J EAIF ?B F?G 8A<; ;<;5 8;A5= ?B 98; B649;5 ;BB;H9 B5?E 5;:;A5H8e -A: AIFC?=F ;<;5 8;A5= ?B 98; B649;5 ;BB;H9e #8; B649;5 ;BB;H9 :AF: 98A9 J8A9 6: 8A@@;I6I7 6I 4AC: A5?GI= 98; J?54= 56789 I?J 6: 7?6I7 9? 9AD; A@@5?U6EA9;4F d` F;A5: 9? B649;5 =?JI 9? 98; A<;5A7; B6;4= @5AH9696?I;5> #86: E;AI: 98A9 @A6I :H6;IH; A: 69 HG55;I94F :9AI=: 6: I?9 C;6I7 :9G=6;= CF F?G5 =?H9?5:> 0G; 9? 98; B649;5 ;BB;H9K B6;4= @5AH9696?I;5: =? I?9 DI?J AC?G9 5;H;I9 =;<;4?@E;I9: 6I 98; B6;4=> *?G5 @8F:6HA4 98;5A@6:9: =? I?9 DI?J AC?G9 69> #86: B649;5 ;BB;H9 A4:? 8?4=: 95G; J8;I 69 H?E;: 9? @;5B?5EAIH; AI= H8AI7;: 6I A984;96H @;5B?5EAIH;K AI= 9? @4F?E;956H:> #8; 5;:;A5H8 98A9 6: 7?6I7 56789 I?J 98A9 ;698;5 @5?<;: ?5 =6:@5?<;: J8A9 6: HG55;I94F @?@G4A5 J644 9AD; d` F;A5: 9? 7;9 =?JI 9? 98; A<;5A7; @5AH9696?I;5> (5?E A CG:6I;:: @;5:@;H96<;K F?G :8?G4= WG;:96?I J8F 986: 6: :?> #8;5; A5; EAIF JAF: F?G HAI G:; 986: 6=;A 9? C;76I 9? =6BB;5;I96A9; F?G5:;4B B?5 98; H?E6I7 F;A5: 6I F?G5 @5?B;::6?I> #8A9 6: J8A9 $ JAI9 9? 9A4D AC?G9 9?=AF> $ JAI9 9? 9A4D 9? F?G 9?=AF AC?G9 98; B6;4= ?B )5AH96HA4 !;G5?:H6;IH;> )5AH96HA4 !;G5?:H6;IH; 6: A J;65= B6;4=K CG9 J8A9 6: 6I9;5;:96I7 6: 98A9 6B F?G 4??D 985?G78 AHA=;E6A 56789 I?JK 98;I F?G J644 :;; 98A9 I;G5?:H6;IH; 6: A I;JK 8?9 9?@6H> !;G5?:H6;IH; AH9GA44F 6: C;H?E6I7 :;UF>
8'53 93"0* :5*, 8'53 9'4; #8; I;J 9;H8I?4?7F ?B @A6I 5;46;B 6: 5;4; $B F?G =? I?9 DI?J 8?J 9? EAIA7; 98; C5A6IK 98;I G496EA9;4F 98; C?=F C;76I: 9? H5;A9; E?5; AI= E?5; 6::G;: B?5 F?G> \8A9 J; A5; 4??D6I7 B?5 6: A 8678N:@;;= JAF 9? 7;9 :9GBB =?I;> $ 8A<; A BA654F :95?I7 AHA=;E6H CAHD75?GI=K CG9 E?5; 6E@?59AI94FK $ 8A<; AI A984;96H CAHD75?GI=> /?5;?<;5K @5?CAC4F E?5; 6E@?59AI9 98AI A44 ?B 98A9 6: 98; BAH9 98A9 $ H?E; B5?E A :95AI7; 86:9?5F>
<=; >?@%"$+=A $ JA: ?I; ?B 98?:; :6HD D6=:> $ JA: C?5I J698 A CGIH8 ?B ?== C6598 =;B;H9:K AI= $ :@;I9 EF B65:9 9J? ?5 985;; F;A5: 6I 98; 8?:@69A4> $ B67G5;= 98A9 $ JA: 7?6I7 9? =6;K AI= 98;I ?<;5 96E;K $ A@@A5;I94F =6= I?9K AI= I?J $ 8A<; EA=; 69 986: BA5 6I 46B;> $ 8A= 986: J;65= C4;I= ?B 7;I;96H:> $ 8A= EG:HG4?:D;4;9A4 @5?C4;E: A: J;44 A: ,$ :9GBB AI= @5?C4;E: J698 EF 4GI7: AI= 8;A59> $ C;46;<; EF @:FH8; ;IAC4;= E; 9? :G5<6<; C;HAG:; B5?E 98; ;A546;:9 E;E?56;: 98A9 $ 8A<;K $ JA: ?I4F 6I9;5;:9;= 6I 9J? 986I7:> $ JA: 6I9;5;:9;= 6I B69I;:: AI= $ JA: 6I9;5;:9;= 6I B67896I7] 98A9 JA: 69> #8; ?I4F 986I7: 98A9 $ JA: ;<;5 6I9;5;:9;= 6I> $ 5;A= EF B65:9 ;U;5H6:; C??D A9 98; A7; ?B ` F;A5: ?4=> 1I=K C;46;<; 69 ?5 I?9K $ 5;A= ,5AF[: AIA9?EF A9 98; A7; ?B dd> $ 75;J G@ 6I A :EA44 BA5E 9?JI 6I /6::6::6@@6 AI= F;9 $ 8A= AI 6I9;I:; 6I9;5;:9 6I 8;A498 AI= @;5B?5EAIH;> 26D; $ :A6=K $ 8A<; 986: J;65= C4;I= ?B 7;I;96H:> $ :9A59;= @4AF6I7 9;II6: AI= $ 7?9 6I /F A984;96H CAHD75?GI= 4;= E; 9? EAIF 6I9;5;:96I7 @4AH;: 6I 46B;> $ 8A<; C;;I A44 ?<;5 98; J?54= H?E@;96I7K 95A6I6I7 AI= 9;AH86I7> $ AE 7?6I7 9? 9A4D A 4?9 AC?G9 :H6;I96B6H =;<;4?@E;I9:K CG9 F?G :8?G4= GI=;5:9AI= 98A9 $ AE AI A984;9; A9 8;A59> #8A9 6: J8A9 $ HA5; AC?G9> $ HA5; AC?G9 EAD6I7 @;?@4; E?<;>
7*+3%.3%*%53B, -+35CC$% $B F?G A5; AI ;I95;@5;I;G5K 98;I F?G DI?J 98A9 F?G5 96E; 6: @5;H6?G:> *?G ?I4F 7;9 A :8?59 AE?GI9 ?B 96E;K AI= J8A9[: E?5; 6E@?59AI9 A5; 98; 96E;: J8;I F?G A5; J?5D6I7 J698 H46;I9:K AI= F?G ?I4F 8A<; A :8?59 AE?GI9 ?B 96E; 9? 6E@5;:: 98;E> *?G I;;= 9? 6E@5;:: 98;E] F?G I;;= 9? H5;A9; H8AI7;: WG6HD4F> f496EA9;4FK 69 6: 98A9 WG6HD H8AI7; 98A9 A::G5;: 98;E 98A9 F?G 8A<; 75;A9 H?E@;9;IH; 6I F?G5 B6;4=> 0?;: AIFC?=F DI?J J8? 0AI 3G446 #86: 6: @5?CAC4F ?I; ?B EF BA
!"## %&'(&)** +)(,-* +. /)##,-( /0) /&1/023 #8;5; 6: A 4?9 ?B 6IB?5EA96?I ?G9 98;5;K AI= 8A<6I7 6I<;:9;= 8GI=5;=: ?B 98?G:AI=: ?B =?44A5: 6I ;=GHA96?I> \8A9 $ HAI 9;44 F?G 6: 98A9 J8A9 ON-;A498 :8A5;: 6I ?G5 ;=GHA96?I @5?75AE: 6: I?9 J8A9 F?G 7;9 6I ?98;5 @4AH;:> #86: 6: I?9 C;HAG:; J8A9 J; 9;AH8 6: I?9 56789 ?5 C;HAG:; 69 6: I?9 DI?JIK CG9 C;HAG:; 69 6: <;5F =6BB6HG49 B?5 @;?@4; 9? A@@4F :?E; 986I7: @5AH96HA44F GI4;:: F?G @4AF J698 69 A 4?9> 144 @5?75;:: C;76I: CF 9;446I7 98; 95G98>
D ) )'*+0*55E $ AE 7?6I7 9? 76<; F?G A 985;; % H?I96IGGE] 98;:; A5; 985;; J?5=: 98A9 C;76I J698 98; 4;99;5 %> #8; B65:9 J?5= 6: H4A569F> #8; :;H?I= J?5= 6: H?E@;9;IH;> #8; 9865= J?5= 6: H?IB6=;IH;> %4A569FK H?E@;9;IH;K AI= H?IB6=;IH;X 98A9 6: A H?I96IGGE>
fIB?59GIA9;4FK J8A9 F?G :;; 6I 98; J?54= A5; EAIF @;?@4; 98A9 AH9GA44F :9A59 ?I 98; J5?I7 ;I= ?B 986: H?I96IGGE> #8;F 95F 9? :9A59 ?I 98; H?IB6=;IH; ;I=> -?J EAIF ?B F?G DI?J @;?@4; 46D; 98A9e #8;F A5; <;5F H?IB6=;I9 98A9 98;F HAI AHH?E@46:8 AIF986I7> -?J;<;5K 98;F =? I?9 8A<; AIF 5;A4 H?E@;9;IH;> 0?;: ;<;5F?I; GI=;5:9AI= 98A9e )$"30+;
"I; ?B 98; 986I7: 98A9 $ 9A4D WG69; A C69 AC?G9 6: 98A9 F?G I;;= H4A569F 6I F?G5 46B;> \8A9 =?;: H4A569F E;AIe $9 E;AI: 98A9 $ 8A<; A <;5F =6:96IH9 =;B6I696?I ?B J8A9 $ AE =?6I7K AI= 98A9 $ DI?J J8A9 $ AE 95F6I7 9? AHH?E@46:8> 1I?98;5 ?I; ?B EF BA -; 6: @5?CAC4F ?I; ?B 98; :EA59;:9 @;?@4; 6I 98; J?54= J8;I 69 H?E;: 9? =;A46I7 J698 <6?4;IH;> "I; ?B ?G5 BA
!40) 5#6&,/. 7,/0 70,50 7) 8)9,-) *':)/0,-( 8)/)&:,-)* ,/* 1*)91#-)**23 $I ?98;5 J?5=:K 6B F?G HAII?9 =;B6I; 69 <;5F J;44K 98;I 69 EAF I?9 C; ?B EGH8 G:; 9? F?G> #? 8;4@ =;B6I; 986I7: J; 8A<; ?4= V?G5IA46:EK J86H8 46:9: J8?K J8A9K J8;IK J8;5;K J8FK AI= 8?J> $I ?5=;5 9? C; C;99;5 6I F?G5 @5?B;::6?IK F?G I;;= 9? :9A59 =;B6I6I7 986I7: CF A:D6I7 A :;56;: ?B 5;4; $B F?G J;5; 9? @G44 ?I; ?B 98;:; @;?@4; A:6=;K A 4?9 ?B 98;E J?G4= 9;44 F?G 98A9 98; @56EA5F 5;A:?I 98A9 98;F A5; 6I 98A9 7FE 6: 9? H8AI7; 98; JAF 98A9 98;F 4??D> $:Ib9 986: H?55;H9e #86: 6: J8A9 $ HA44 IAD;= E655?5 :FI=5?E;> \8A9 =? F?G JAI9e *?G JAI9 9? 4??D C;99;5 IAD;= 6I 98; E655?5> $ AE I?9 :AF6I7 98A9 6: A CA= 7?A4> $ 986ID 98A9 6: A 7??= 986I7K CG9 8?J EAIF @;?@4; AB9;5 9J? F;A5: ?B 8A5= J?5D 8A<; AH9GA44F 5;AH8;= 98; @8F:6WG; 7?A4: 98A9 98;F C;7AI J698e \8A9 =? F?G 986ID 6: 98; IGEC;5 ?B @;?@4; 98A9 8A<; AH86;<;= 98;65 B69I;:: 7?A4:K @;5H;I9A7; J6:;e 0? F?G 986ID 98A9 69 6: ?I; @;5H;I9K 9J? @;5H;I9K ?5 ;<;I 985;; @;5H;I9e \8A9 J?G4= F?G =? 6B F?G 8A= A 4A@9?@ 98A9 ?I4F J?5D;= ?I; @;5H;I9 ?B 98; 96E;e *?G J?G4= 985?J 69 ?G9> *?G J?G4= 986IDK Q*?G DI?J J8A9e #86: 6: A G:;4;:: @6;H; ?B ;WG6@E;I9> \8F =? H46;I9: D;;@ H?E6I7 CAHD B?5 ?I; @;5H;I9 :GHH;::e \8F =? 98;F D;;@ @AF6I7 7??= E?I;F 9? I?9 AHH?E@46:8 J8A9 98;F :AF 98A9 98;F JAI9 9? AHH?E@46:8eR *?G I;;= 9? 5;A44F 986ID AC?G9 98;:; WG;:96?I: C;HAG:; 98; AI:J;5 6: 98A9 J8A9 F?G5 H46;I9 :AF: 6: I?9 J8A9 98;F E;AI> #86: 6: 98; J8?4; H4A569F =6:HG::6?I> \8F A5; 98;F 98;5;e \8;I;<;5 F?G =;A4 J698 8GEAI C;6I7:K 98;F A5; <;5F H?E@4;U> #8;F A5; A :95AI7; C5;;=> -?J EAIF ?B F?G 8A<; ;<;5 8;A5= ?B A E;9AC?46H J?5= :9G=Fe -;5; 6: AI ;UAE@4; ?B 8?J A E;9AC?46H J?5= :9G=F 6: 9F@6HA44F =?I;> *?G 9;44 F?G5 H46;I9KK Q"DAFK 8;5; 6: J8A9 6: 7?6I7 9? 8A@@;I>$I F?G5 @5?75AE B?5 98; I;U9 gNh J;;D: F?G A5; 7?6I7 9? 9AD; 986: V?G5IA4> *?G A5; 7?6I7 9? J569; =?JI ;<;5F986I7 98A9 @A::;: F?G5 46@:] ;<;5F986I7
98A9 F?G ;A9 AI= ;<;5F986I7 98A9 F?G =56ID> *?G[5; 7?6I7 9? J569; 69 A44 =?JI>R #8;IK 98;F 7? ?G9 AI= 98;F 46<; 98;65 46<;:K A: 98;F J?G4= I?5EA44F =?> #8; ?I4F ;UH;@96?I 6: 98A9 98;F J569; 69 A44 =?JI] 98;F @G9 69 6I 98;65 V?G5IA4> 19 98; ;I= ?B 98A9 @;56?=K F?G J644 9AD; 98;E 6I9? 986: 4?HD;= ;I<65?IE;I9 HA44;= 98; E;9AC?46H J?5=K AI= F?G =? I?9 4;9 98;E ?G9> *?G B;;= 98;E ;UAH94F J8A9 98;F J5?9; =?JIK AI= F?G HAI 7G;:: J8A9 8A@@;I:> #8;F A44 4?:; J;6789> #86: 6: C;HAG:; ;<;5FC?=F 46;:> #8A9 6: 98; 986I7> #8;F A5; I?9 =?6I7 69 ?I @G5@?:;> #8;F A5; I?9 =?6I7 69 C;HAG:; 98;F JAI9 9? 46;K CG9 C;HAG:; J; 8A<; :? EAIF 986I7: 98A9 8A@@;I 6I ?G5 46<;:K AI= J; VG:9 =? 69 GIH?I:H6?G:4F> -;4@6I7 @;?@4; 9? 5;A44F GI=;5:9AI= J8F 98;F A5; :;;6I7 F?G 6: ;U95;E;4F 6E@?59AI9K AI= 69 6: E?5; 6E@?59AI9 B?5 F?G C;HAG:; F?G A5; 98; ?I; 98A9 6: @5?<6=6I7 98; :;5<6H;> *?G I;;= H4A569F> /?:9 @;?@4; J8;I 98;F JA4D 6I 98; =??5 9;44 F?G ?I; 986I7K AI= J8A9 98;F 5;A44F E;AI 6: 98A9 98;F VG:9 JAI9 9? C; C;99;5> $9 9AD;: A C67 :9;@> #86ID AC?G9 98; @;?@4; 98A9 JA4D 985?G78 F?G5 =??5 ga ?5 `a @?GI=: ?<;5J;6789 AI= J8? 8A<;I[9 ;U;5H6:;= 6I _a F;A5:> &<;5F 96E; 98A9 98;F 7;9 G@ 6I 98; E?5I6I7K 98;F 4??D 6I 98; E655?5 AI= 98;F :AFK Q,?=K J8A9 6: J5?I7 J698 E;e \8F HAI[9 $ 9G5I =?JI 986: B??=e \8F =? $ 4??D 46D; 986:eR #8;F A5; A:D6I7 98;E:;4<;: 98;:; WG;:96?I: A44 98; 96E;> \8A9 F?G A5; @5?<6=6I7 98;E A9 98; E?:9 CA:6H 4;<;4 6: 8?@;> *?G A5; @5?<6=6I7 98;E 8?@; 98A9 98;F HAI C; =6BB;5;I9K AI= 98A9 98;F HAI H8AI7;> "G5 V?C A: 8678N4;<;4 H?AH8;: 6: 9? I?9 ?I4F @5?<6=; 98;E 8?@; 985?G78 C;6I7 H?IB6=;I9 AI= ;IH?G5A76I7K CG9 9? A4:? 8;4@ 98;E 9? H5;A9; H8AI7; A: BA:9 A: 8GEAI4F @?::6C4;> 0?;: ;<;5F?I; GI=;5:9AI= 98A9e f496EA9;4FK 6B F?G HAI =? 98A9K 98;I F?G HAI =6BB;5;I96A9; F?G5 CG:6I;:: B5?E ;<;5F?I; ;4:;> !"# %&'( ") ("* +&,- ./0-'12 1+&1 &3- 0' 4&0' .*33-'1/(5 6""7 &3"*'8 1+- 3""%9 -,-3(:"8( 7--4 ("*3 +&'8 *4; <+&1 02 & =>>? +&'82 *4 3&1-;
)A6IK 7;I;5A44F :@;AD6I7K 8A: C;;I H?I:6=;5;= 98; 5;A4E ?B 98; =?H9?5 AI= 98; @8F:6HA4 98;5A@6:9 B?5 F;A5:> ,G;:: J8A9e )A6I 6: 98; 5;A4E ?B 98; @;5:?I 98A9 6: ;U@;56;IH6I7 69> #8A9 6: J8A9 @A6I
I;G5?:H6;IH; I?J 9;44: G:> )A6I 6: F?G5 5;:@?I:6C6469F> $B F?G 8A<; 69K 98;I 69 6: F?G5 5;:@?I:6C6469F> $9 6: I?9 AIF?I; ;4:;[: 5;:@?I:6C6469F 9? 7;9 56= ?B 69> 144 98A9 98;F HAI =? 6: 9? 76<; F?G 98; @A98> #8; 8A5= @A59 6: 98A9 F?G 8A<; A44 ?B 98;:; @;?@4; 98A9 JAI9 9? C; =6BB;5;I9> #8;F JAI9 9? E?<; C;99;5K AI= 98;F JAI9 9? 4??D C;99;5> -?J EAIF A984;9;: =? J; 8A<; 6I 8;5;e #8A9 6: A 956HD WG;:96?I> &<;5FC?=F :8?G4= 5A6:; F?G5 8AI=:> *?G A44 J?5D ?G9> *?G EAD; F?G5 46<6I7 J698 F?G5 C?=F> $:Ib9 98A9 H?55;H9e TF =;B6I696?IK F?G A5; A44 H?I:6=;5;= @5?B;::6?IA4 A984;9;:> -?J EAIF ?B F?G 8A<; ;<;5 A99;E@9;= 9? H?E@;9; EAFC; 6I B??9CA44K 9;II6:K 95AHDK J5;:946I7K ?5 J8A9;<;5e -?J EAIF ?B F?G 8A<; ;<;5 956;= 9? H?E@;9; =;:@69; A @8F:6HA4 6IVG5Fe -?J =6= 98A9 J?5D ?G9 B?5 F?Ge 1498?G78 J; 46D; 9? :AFK Q"8 F;A8K $[E 98A9 7GF> $ J644 VG:9 @G:8 985?G78> $[44 VG:9 7;9 985?G78 69K $[44 C; ?DAFKR J; :8?G4= 5;A46Z; 98A9 986: 6: I?9 95G; C;HAG:; F?G J644 I?9 C; AC4; 9? =? 986:X 19 4;A:9 I?9 B?5 <;5F 4?I7> -G59 A984;9;: 9F@6HA44F :69 ?I 98; C;IH8> #8;F WG69 @4AF6I7> &<;I9GA44FK 98;F WG69 E?<6I7> $B F?G 4??D A9 98; 1E;56HAI %?44;7; ?B 3@?59: /;=6H6I;K F?G J644 4;A5I 98A9 i`j ?B @;?@4; 6I 98; fI69;= 39A9;: 98A9 C;7AI AI ;U;5H6:; @5?75AE WG69 98A9 ;U;5H6:; @5?75AE J6986I h J;;D: =G; 9? AI 6IVG5FK i`j> -?@;BG44FK J; A5; I?9 5?G96I;4F :;;6I7 98A9K CG9 A 4?9 ?B 98?:; @;?@4; A5; ?G9 98;5; 95F6I7 9? 95A6I ?I 98;65 ?JI> #86: E;AI: 98A9 F?G 8A<; A 95;E;I=?G: EA5D;9 ?B @;?@4; J8? AH9GA44F JAI9 9? H8AI7;K CG9 98;F =? I?9 DI?J 8?J> i`j ?B 98; @?@G4A96?I 9? C; ;UAH9> $ 46D; :9A96:96H:> \8;I F?G 4??D A9 98; fI69;= 39A9;:K =?;: AIF?I; 8A<; AI 6=;A ?B 8?J EAIF H85?I6H ;U;5H6:;5: 98;5; A5;e %85?I6H ;U;5H6:;5:K CF =;B6I696?IK A5; @;?@4; 98A9 8A<; ;U;5H6:;= B?5 ?I; F;A5 ?5 E?5; 5;7G4A54F> \8A9 @;5H;I9A7; ?B 98; fI69;= 39A9;: @?@G4A96?I B69: 98A9 =;B6I696?Ie 0?;: AIFC?=F DI?Je kj ?B 98; fI69;= 39A9;: @?@G4A96?I 6: H?I:6=;5;= 9? BA44 6I9? 98; H85?I6H ;U;5H6:;5 HA9;7?5FK J86H8 6: AI GIC;46; \8A9 =?;: 98A9 9;44 F?G A7A6I AC?G9 F?G5 CG:6I;::e $9 :8?G4= 9;44 F?G 98A9 98;5; 6: @4;I9F ?B E?I;F 9? C; EA=;K CG9 ?IH; A7A6IK J; 8A<; 9? :8?J 98;E 98A9 98;5; 6: A @A98 98A9 H46;I9: HAI B?44?J 9? AH86;<; 98;65 7?A4:> $B $ H?E; CAHD 9? EF l% H?I96IGGEK 986: 6: 98; H4A569F @A59K AI= $
H?G4= 7? ?I B?5 =AF: AI= =AF: AC?G9 98; I;;= B?5 H4A569F 6I ?G5 @5?B;::6?I:> )'E.%+%*/%
-?J 6: H?E@;9;IH; 5;4; *?G A5; 4??D6I7 A9 8?J 9? :;44 986I7: C;99;5> *?G A5; A:D6I7 F?G5:;4BK Q-?J =? $ EA5D;9 C;99;5eR "I 986: :GCV;H9K G496EA9;4F A44 98; :@;AD;5: F;:9;5=AF :A6= 98; :AE; 986I7K 9? :?E; =;75;;> *?G 8A= C;99;5 C; F?G5 ?JI C644C?A5=> *?G 8A= C;99;5 4??D 98; @A59K CG9 E?5; 6E@?59AI94FK F?G I;;= 9? 8A<; 98; 6I9;7569F 9? AH9 98; @A59> -?J;<;5K F?G HAI BAD; 69K D6I= ?B> "I; ?B EF BA \;44K F?G 5;A44F HAII?9 BAD; H?E@;9;IH; B?5 <;5F 4?I7 ;698;5> *?G HAI AH9 A: 6B F?G 8A<; 69 A44 9?7;98;5K CG9 98;5; 6: I?986I7 98A9 CG64=: GI:8AD;AC4; H?IB6=;IH; 6I F?G5 HA@AH69F 9? 8;4@ @;?@4; 46D; 8A<6I7 75;A9K 5;4; )'*(04%*/%
0G56I7 3;AI[: 9A4D F;:9;5=AFK 8; :A6= 98A9 98; IGEC;5 ?I; @4AH; 9? 6I<;:9 F?G5 E?I;F 6: 6I F?G5:;4B> \8A9 JA: 8; 9A4D6I7 AC?G9 98;5;e -; JA: 9;446I7 G: 9? CG64= H?E@;9;IH; C;HAG:; 98; E?5; 96E; 98A9 F?G :@;I= CG64=6I7 H?E@;9;IH;K 98; 75;A9;5 F?G5 H?IB6=;IH;> $9 6: A :6E@4;K ;A:F 9? 5;E;EC;5 H?I96IGGE> *?G I;;= 9? DI?J J8? F?G A5;> *?G I;;= 9? DI?J J8? 98;F A5;> *?G I;;= 9? 8A<; 98; :D644 :;9: 9? 8;4@ 98;E I? EA99;5 J8A9 6: 7?6I7 ?I 6I F?G5 CG:6I;::> 1I=K B5?E A44 ?B 98A9 F?G HAI I?J :@;AD J698 95;E;I=?G: H?IB6=;IH; C;HAG:; F?G HAI @5?<6=; 98;E J698 ;UAH94F J8A9 98;F I;;=> #86: EAD;: 98; :A4;: @5?H;:: EGH8K EGH8 ;A:6;5> 06BB;5;I96A96?I 6: 98; I;U9 986I7 98A9 $ AE 7?6I7 9? 9A4D AC?G9K AI= 98;I $ J644 AH9GA44F 9A4D AC?G9 :?E; 8?@;BG44F H??4 :H6;IH; 5;4A9;= :9GBB> $ @G9 A C5A6I G@ 8;5; C;HAG:; ?I; ?B 98; 986I7: 98A9 F?G JAI9 9? :9A59 986ID6I7 AC?G9 6: 98; @;5:?I 98A9 F?G A5; 9?=AF A: J;44 A: 98; @;5:?I 98A9 F?G A5; 7?6I7 9? C; 6I 98; I;U9 ` F;A5:> #86: EAF :?GI= 46D; :644FK H46H8mK :;4BN8;4@ :9GBB> \8? A5; F?G 9?=AFe \8? A5; F?G 7?6I7 9? C; 6I 98; I;U9 ` F;A5:e $9 5;A44F 6: I?9> #86: 6: @5?CAC4F 98; E?:9 H5696HA4 WG;:96?I 98A9 F?G HAI A:D F?G5:;4B> -;5; 6: J8A9 J; DI?J AC?G9 I;G5?4?7F A9 986: @?6I9> #8; 8GEAI C5A6I 6: A
9A57;9N:;;D6I7 :F:9;E> $9 6: A 9A57;9N:;;D6I7 :F:9;E AI= 98; JAF 98A9 69 :;;D: ?G9 69: 9A57;9 6: <;5F 6I9;5;:96I7> (?5 6I:9AIH;K 6B $ 9AD; 986: @;I AI= 985?J 69 =?JI ?I 98; B4??5K 98;5; A5; 6IIGE;5AC4; @A98: 98A9 $ HAI 9AD; 9? AH9GA44F @6HD G@ 98; @;I> $ H?G4= JA4D A5?GI= 986: JAF> $ H?G4= =6<; ?<;5K =? A B46@K 98;I @6HD 69 G@> $ H?G4= ;<;I 7;9 =?JI 98;5; 9? @6HD 69 G@ J698 EF 9;;98> \8A9 6: 6I9;5;:96I7 6: 98A9 F?G5 C5A6IK J8;I;<;5 F?G 76<; 69 A 9A57;9K 7?;: 985?G78 986: H?E@G9A96?IA4 :;WG;IH;> #8;5; 6: A J8?4; :H6;IH; 6I EA98;EA96H: HA44;= TAF;:6AI EA98;EA96H: ?5 TAF;:6AI 98;?5F> \8A9 8A: C;;I 8A@@;I6I7 ?<;5 98; 4A:9 d` F;A5: 6: 98A9 @;?@4; 8A<; C;;I 95F6I7 9? CG64= 5?C?9: AI= I;G5A4 I;9J?5D: 98A9 BGIH96?I 46D; 98; 8GEAI C5A6I>
-%/3%+ +' F%++0*C F''4 $B F?G JAI9 9? 7;9 7??= A9 :?E;986I7K 98;I F?G :8?G4= 4??D A9 @;?@4; ?G9:6=; F?G5 ?JI 6I=G:95F> #86: 6: ?I; ?B 98; 986I7: 98A9 J; =? A44 98; 96E; J6986I ON-;A498> \; A5; H?I96IGA44F A:D6I7 98; WG;:96?I K Q\8A9 A5; @;?@4; ?G9:6=; 98; 8;A498 HA5; 6I=G:95F =?6I7 98A9 HAI 8;4@ ;4GH6=A9; J8? J; A5; A: J;44 A: J8A9 J; A5; :G@@?:;= 9? C; =?6I7 A 46994; C69 C;99;5eR (?5 98; 4A:9 da F;A5: ?5 :?K $ 8A<; C;;I =?6I7 A 4?9 ?B :9G=F 6I 98; J8?4; =;<;4?@E;I9 ?B I;G5A4 I;9J?5D: AI= 5?C?96H: C;HAG:; J8A9 98;F A5; 95F6I7 9? =? 6: 98;F A5; 95F6I7 9? CG64= 98;:; EAH86I;: 98A9 AH9 46D; G:> #86: E;AI: 98A9 98;5; 6: A <;5F 6I9;I:; @5?75AEE6I7 @5?H;:: 98A9 98;F 8A<; 9? 7? 985?G78> $I ?5=;5 9? =? 98A9K 98;F 8A<; 9? GI=;5:9AI= E?5; AC?G9 8?J J; AH9GA44F J?5D> "I; ?B 98; EA98;EA96H6AI: HG55;I94F J?5D6I7 6I 986: B6;4= 6: &EEAIG;4 #?=?5?<] 8; 6: B5?E 98; fI6<;5:69F ?B %A46B?5I6A 3AI9A TA5CA5AK AI= 8; 6: HG55;I94F J?5D6I7 A9 98; fI6<;5:69F ?B \A:86I79?I>
!=% 93"0* 7G5"+0'* #8;:; EA98;EA96H6AI:K 6IH4G=6I7 &EEAIG;4 #?=?5? #8;F A5; 95F6I7 9? =;9;5E6I; 8?J 98; 8GEAI C5A6I AH9GA44F J?5D: A: J;44 A: =6:H?<;5 98; ?I; ;WGA96?I 98A9 J644 ;U@4A6I 8?J 98; 8GEAI C5A6I BGIH96?I:> \8A9 98;F =6= 6: 98;F CG649 986: 9;:9 AI= 98;:; E?=;4:] 98;F D;@9 95F6I7 9? 5GI :6EG4A96?I: A7A6I:9 J8A9 J; DI?J AC?G9 8?J 98; 8GEAI E6I= :;;E: 9? BGIH96?I> f496EA9;4FK 6I 98A9 4?I7 @5?H;::K 98;F 6IH?5@?5A9;= 986: EA98;EA96HA4 98;?5F HA44;= TAF;:6AI 98;?5F 6I9? 98;65 :9G=F> TAF;:6AI 98;?5F 6: AH9GA44F B5?E 98; B6;4= ?B ;H?I?E6H:> *;A5: A7?K TAF;:6AI 98;?5F JA: A@@46;= 9? 4??D A9 98; ;H?I?E6;: ?B IA96?I:> #8; J8?4; 6=;A JA: 9? =;9;5E6I; 6B J; H?G4= G:; A EA98;EA96HA4 ;WGA96?I 9? B67G5; ?G9 H;59A6I @5?CAC64696;:K :GH8 A: J8A9 6: 7?6I7 9? 8A@@;I J698 98; ;H?I?EF ?I 98; IA96?IA4 4;<;4> *?G 8A<; 9? 986ID AC?G9 986: HA5;BG44F> +;:;A5H8;5: :9A59;= =?6I7 98;:; :9G=6;: AI= 98;F J;I9K Q2??DK 986: 6: J;65=> #8; 8GEAI C5A6I A@@;A5: 9? BGIH96?I AHH?5=6I7 9? 98; 4AJ ?B @5?CAC64696;:>R $I ?98;5 J?5=:K J8;I;<;5 $ 985?J 98A9 @;I =?JI 9? 98; B4??5K EF C5A6I 8A: 6IIGE;5AC4; ?@96?I: 98A9 69 HAI H8??:; B5?E 9? 5;956;<; 69> TA:6HA44FK J8A9 69 =?;: 6: 98A9 69 4??D: B?5JA5=K AI= 69 =;9;5E6I;: 98; @5?CAC64696;:] 69 98;I 956;: 9? H8??:; J8A9K 8?@;BG44FK 6: 98; E?:9 ;BB6H6;I9 AI= C;:9 ?@96?I 6I ?5=;5 9? 8;4@ E; 9? AHH?E@46:8 98; 9A:D>
<0+='5+ " !"3C%+H 2+B, @"34 +' I0E \8? F?G A5; 9?=AF AI= J8? F?G A5; ` F;A5: B5?E I?J 6: I?9 AI 6=4; WG;:96?I C;HAG:; 6B F?G =? I?9 76<; F?G5 C5A6I A 9A57;9K 98;I 69 6: 8A5= 9? A6E AI= AH86;<; A =;:65AC4; ?G9H?E;> #8A9 6: 8?J F?G5 C5A6I BGIH96?I:> $B F?G =? I?9 8A<; A 9A57;9K 98;I 69 6: 8A5= 9? A6E> #8;5; 6: I? JAF 9? H?E; G@ J698 @5?CAC64696;:> $ HAI 9AD; A =A59 AI= A=E69 98A9 $ 8A<; I? 6=;A J8;5; 98; 9A57;9 6:K :? $ J644 VG:9 9?:: 69 ?G9 98;5; AI= 8?@; B?5 98; C;:9> -?J;<;5K 69 6: I?9 =;:65AC4; 9? 46<; F?G5 =AFN9?N=AF 46B; 6I 986: EAII;5> (?5 ;UAE@4;K F?G5 CG:6I;:: 56789 I?J 6: J8A9 69 6:> ` F;A5: B5?E I?JK 69 J644 C; J8A9 69 J644 C; CA:;= ?BB ?B 8?J J;44 F?G =6BB;5;I96A9; F?G5:;4B B5?E ;<;5F?I; ;4:;> $ 986ID 98A9 6: AI ;A:F H?IH;@9 9? GI=;5:9AI=> $I EA5D;96I7 9;5E:K J; HA44 98; @5?H;:: ?B =6BB;5;I96A96?I C5AI=6I7 ?5 C5AI= AJA5;I;::> 19 98; ;I= ?B 98; =AFK 8?J F?G =6BB;5;I96A9; F?G5:;4B J644 EAD; A44 98; =6BB;5;IH;> $ 986ID 98A9 ;<;5FC?=F J8? 6: 6I 98; B69I;:: 6I=G:95F A: J;44 A: ;<;5FC?=F J8? 6: 6I 98; 8;A498 HA5; 6I=G:95F J8? 6: 5;A44F 6I 986: ;I95;@5;I;G56A4 E6I=:;9 6: 8;A=;= 6I 98; =65;H96?I ?B 98; C5A6I AI= 98; I;5 $ J644 76<; F?G A 46994; C69 E?5; :8A@; 9? 986: 6I VG:9 A :;H?I=> 2;9[: E?<; ?I A 46994;>
2*+3'45/+0'* +' 1%53'.$",+0/0+; -A<; F?G ;<;5 8;A5= 98; 9;5E I;G5?@4A:96H69Fe $B F?G 8A<;K 98;I 98A9 6: 7??=> $B F?G A5; 986ID6I7 AC?G9 5;A=6I7 AIF C??D 986: F;A5 9? A=R 3?E; ?B F?G EAF =6:A75;; J698 E; C;HAG:; 98;5; A5; ?98;5 75;A9 EA5D;96I7 C??D:K CG9 G496EA9;4F J8;I F?G 5;A= 986: F?G A5; 7?6I7 9? 4??D A9 F?G5:;4B =6BB;5;I94F 6I 98; E655?5> 0? F?G 5;E;EC;5 3;AI[: IGEC;5 ?I; 5G4;K J86H8 6: 98; H?5; $B F?G 5;A= 986: C??DK Q#8; T5A6I 98A9 %8AI7;: $9:;4BKR 98;I A44 ?B 98; :G==;I F?G A5; 7?6I7 9? 7?K Q-?4F H?JK 8;[: 56789> $ AE 5;:@?I:6C4; B?5 C;H?E6I7 J8? $ AE>R 05> !?5EAI 0?6=7; J5?9; 98; C??D Q#8; T5A6I 98A9 %8AI7;: $9:;4B>R 05> 0?6=7; J569;: A 4?9 AC?G9 I;G5?@4A:96H69F> 2;9 E; VG:9 76<; F?G A C5?A= =;B6I696?I ?B J8A9 I;G5?@4A:96H69F 6:> 36IH; doo`K 98; J8?4; :H6;IH; ?B GI=;5:9AI=6I7 98; C5A6I 8A: H8AI7;=> $I BAH9K EAIF I;G5?:H6;I96:9: I?J J644 9;44 F?G 98A9 iaj ?B J8A9 J; 98?G789 98A9 J; DI;J 6I doo` AC?G9 8?J 98; 8GEAI C5A6I BGIH96?I: 6: J5?I7> "G5 GI=;5:9AI=6I7 ?B J8? F?G A5; A: @;?@4; A: J;44 A: 8?J F?G BGIH96?I 8A: H8AI7;= GIC;46; )5?CAC4F 98; E?:9 6E@?59AI9 ?I; 6: HA44;= A BGIH96?IA4 /+$> 1 BGIH96?IA4 /+$ A4?I7 J698 #5AI:H5AI6A4 /A7I;96H 36EG4A96?I P#/3S A44?J: G: 9? 4??D A9 F?G5 C5A6I J864; F?G A5; =?6I7 986I7: 9? :;; 8?J 69 J?5D:> f496EA9;4FK J8A9 J; A5; =6:H?<;56I7 6: 98A9 J; HAI EA@ 98; C5A6I> #8;5;B?5;K J8;I A :GCV;H9 6: ;U@;56;IH6I7 AI ;E?96?IK J; HAI 9AD; A @6H9G5; ?B 98; C5A6IK 6IH4G=6I7 98; @A59: ?B 98; C5A6I 98A9 A5; BGIH96?I6I7 9? =;9;5E6I; 98; :GCV;H9b: ;E?96?I:K :GH8 A: 6B 98;F A5; 8A@@FK 6B 98;F A5; :A=K ;9 H;9;5A> 05> TAH8NFN+69A JA: AI ;A54F @6?I;;5 6I I;G5?@4A:96H69F> 05> TAH8N FN+69A JA: A E;=6HA4 EA<;56HD> -; 8A= C;;I 985?G78 EG496@4; 5;:6=;IH6;:> -; I;<;5 =6= 986I7: 6I A I?5EA4 JAF> "I; =AFK 86: BA98;5 8A= A EA::6<; :95?D;> $I ?98;5 J?5=:K 8; JA: A4E?:9 <;7;9A96<;> -; 4?:9 A44 E?9?5 BGIH96?IK AI= 8; 4?:9 98; AC6469F 9? :@;AD> -6: =A= JA: A 9;AH8;5 A9K $ C;46;<;K %69F fI6<;5:69F ?B !;J *?5D> $I 98; C??DK Q#8; T5A6I 98A9 %8AI7;: $9:;4BKR 98; I;G5?4?76:9 :AF: 9? 05> TAH8NFN+69AK Q26:9;IK 8; 6: J8A9 8; 6:> #8;5; 6: I? 6E@5?<;E;I9
B5?E 8;5;>R 0;:@69; 5;H;6<6I7 986: =6:H?G5A76I7 I;J: B5?E 98; A99;I=6I7 I;G5?4?76:9K 05> TAH8NFN+69A 9??D 86: =A= CAHD 9? /;U6H? C;HAG:; 8; 8A: 98; @;5:?IA469F 98A9 :AF:K Q\;44K 98A9 EAF C; 95G; AI= 69 EAF I?9 C; 95G;> -?J;<;5K J; :8?G4= :9644 C; AC4; 9? =? :?E;986I7 B?5 86E>R TF 9AD6I7 86: =A= CAHD 9? /;U6H?K 05> TAH8NFN+69A :9A59;= 986: <;5F ;A54F <;5:6?I ?B J8A9 8A: I?J C;H?E; DI?JI A: I;G5?N=;<;4?@E;I9A4 98;5A@F> -; 5;A46Z;= 98A9 69 JA: A456789 A9 98A9 @?6I9 6B 86: =A= JA: 46D; A CACF J8? 5;A44F 8A= I? C?=F H?I95?4> #86: VG:9 EA=; 86E 6I9;5;:9;= 6I 4;A5I6I7 8?J 9? =;9;5E6I; 8?J A CACF C;76I: 9? 4;A5I 9? E?<;> (65:9K 05> TAH8NFN+69A :9A59;= 95F6I7 9? EAD; 86: =A= 75A:@ :9GBB A: J;44 A: 9? EAD; 86E E?<; 86: E?G98 AI= E?<; 86: 9?I7G;> -; JA: 9;AH86I7 86E 8?J 9? =? A44 ?B 98;:; :?E;J8A9 CA:6H 986I7:> "<;5 98; H?G5:; ?B _ F;A5:K 86: =A= 5;7A6I;= A4E?:9 BG44 BGIH96?I> -6: =A= J;I9 CAHD 9? 9;AH86I7 AI= 46<6I7 ?I 86: ?JI> $9 JA: A E65AHG4?G: 5;H?<;5F> 1 IGEC;5 ?B F;A5: 4A9;5K 86: =A= @A::;= AJAF> 19 986: @?6I9 F?G EG:9 5;A46Z; 98A9 05> TAH8NFN+69A JA: A 5;A4 :H6;I96:9 C;HAG:; 98;F =6= AI AG9?@:F ?I 86: =A=K AI= J8;I 8; 4??D;= A9 86: =A=[: C5A6I J698 98; @A98?4?76:9 98;F :AJ 98A9 JA: 98; :95?D; 98A9 86: =A= 8A= ;U@;56;IH;= JA: 8G7;> $9 JA: ;I?5E?G:> \; 8A<; A E?9?5 H?59;U 98A9 76<;: H?EEAI=: B5?E 98; C5A6I =?JI 6I9? 98; C?=F> 05> TAH8NFN+69A BA98;5b: :95?D; 8A= AH9GA44F =;:95?F;= A44 ?B 98; E?9?5 H?59;U ;UH;@9 B?5 lj ?B A44 98; =;:H;I=6I7 E?9?5 H?I95?4 :F:9;E:> #8;5; JA: I? JAF AHH?5=6I7 9? :9AI=A5= E;=6HA4 :H6;IH; 98A9 8; H?G4= 8A<; 5;H?<;5;= ;<;I 98; 96I6;:9 @A596H4; ?B A44 98; E?<;E;I9 98A9 8; 5;H?<;5;= GI=;5 05> TAH8NFN+69Ab: 86784F 6I=6<6=GA46Z;= HA5;> 05> TAH8NFN+69AK AB9;5 986: ;U@;56;IH; J698 86: 0A=K :A6=K Q*?G DI?J J8A9K $ 986ID 98; C5A6I HAI H8AI7;>R
!=% 93"0* )"* )="*C% -?J EAIF ?B F?G C;46;<; 98A9 98; C5A6I HAI H8AI7;e #86: C;46;B @G9: F?G 6I A :EA44 E6I?569F C;HAG:; G@ GI964 AC?G9 da F;A5: A7?K 69 JA: C;46;<;=K @A596HG4A54F 6I 98; E;=6HA4 @5?B;::6?IK 98A9 98; C5A6I JA: B6U;= AB9;5 98; A7; ?B AC?G9 _` F;A5: ?4=> $9 JA: H?EE?I4F 98?G789 CF E;=6HA4 @5?B;::6?IA4: 98A9 98; C5A6I =6= I?9 H8AI7; AB9;5 98A9 A5C695A5F E64;:9?I;> #8;F C;46;<;= 98A9 A44 ?B 98; 95AHD: J;5; CG649 6IK 98;F J;5; 8A5=NJ65;=K AI= F?G J;5; J8? F?G J;5;> -?J;<;5K I?986I7 H?G4= C; BG598;5 B5?E 98; 95G98> 05> TAH8NFN+69A 5;A46Z;=K Q*?G DI?J J8A9K 98A9[: @5;99F 6I9;5;:96I7 98A9 0A= JA: AC4; 9? 5;H?<;5 A44 ?B 986: :9GBBK :? 98; C5A6I EG:9 C; AC4; 9? H8AI7;> #8;5;B?5;K 6B $ HAI 9;AH8 A EAI J698 I? E?9?5 H?I95?4 9? E?<; A7A6IK 98;I $ C;9 98A9 $ H?G4= 9;AH8 C46I= @;?@4; 9? :;;> $ C;9 98A9 $ H?G4= 9;AH8 =;AB @;?@4; 9? 8;A5>R 1I=K 986: 6: @5;H6:;4F J8A9 8; AHH?E@46:8;= 6I 98; B6;4=> -; :9A59;= J698 C46I= @;?@4;> -; CG649 A H8A65 AI= ?I 9?@ ?B 98; H8A65K 8; @G9 A HAE;5A> #8A9 HAE;5A =67696Z;= 6IB?5EA96?I AI= 98A9 6IB?5EA96?I JA: :;I9 6I9? A :956@ ?B @4A:96H 6EC;==;= J698 46994; ;4;H95?=;: 98A9 5AI =?JI 98; CAHD ?B 98; H8A65> $B F?G 8A<; 8A= A #&!3 GI69 ?I ?5 :?E;986I7 :6E64A5 C;B?5;K F?G 8A<; ;U@;56;IH;= A 46994; C69 ?B A :8?HD> -?J;<;5K 05> TAH8NFN+69A :A6=K Q$ C;9 J; H?G4= 95AI:E69 6IB?5EA96?I 6I9? 98; :D6I ?B 98; CAHDK AI= 6B 98; C5A6I 6: HA@AC4; ?B J8A9 J; 986ID 69 6: HA@AC4; ?BK 98;I 69 J644 4;A5I 9? A=VG:9>R #85?G78 86: J?5DK 986: 6: @5;H6:;4F J8A9 8A@@;I;=> "<;5 A @;56?= ?B 95A6I6I7K 98; @A596H6@AI9: C;7AI 9? :;; G:6I7 98; :D6I ?B 98;65 CAHD> T;HAG:; J8A9 6: 6I9;5;:96I7 AC?G9 98; 8GEAI C5A6I 6: 98A9 J8;I F?G 9;44 69 9? =? :?E;986I7 5;@;A9;=4FK 69 6: J65;= 9? =? VG:9 98A9> #8; 8GEAI C5A6I 6: 95A6IAC4;> #8A9 6: J8F :? EAIF ?B F?G 8A<; A EGH8 75;A9;5 ?@@?59GI69F 9? C; :GHH;::BG4 98AI F?G5 @;;5: C;HAG:; F?G A5; 8;5; 9;446I7 F?G5 C5A6I 9? =? 986I7: 98A9 F?G5 H?44;A7G;: A5; I?9 =?6I7> *?G A5; 6I<;:96I7 98; 96E; AI= F?G A5; 6I<;:96I7 98; ;I;57F 6I C;H?E6I7 C;99;5 A9 F?G5 @5?B;::6?I> #8; =;<6H; 98A9 05> TAH8NFN+69A =;<;4?@;= JA: HA44;= 98; C5A6I @?59> -; B67G5;= 98A9 @;?@4; =? I?9 JAI9 9? :69 6I 98; H8A65 AI= VG:9 :;;>
$I:9;A=K 98;F JAI9 9? E?<; A5?GI= :? 8; :9A59;= =;<;4?@6I7 AI= E6I6A9G56Z6I7 98; C5A6I @?59>
-%%0*C J0+= +=% !'*C5% #8;F H8AI7;= 98; C5A6I @?59 A 46994; C69 C;HAG:; 98;F 5;A46Z;= 98A9 69 JA: HGEC;5:?E; 9? 8A<; 98;:; :956@: ?I 98; CAHD> #8;F =;H6=;= 98A9 98;F J;5; 7?6I7 9? G:; A :956@ ?B @4A:96H ?I 98; 9?I7G;> #8;5; A5; C46I= @;?@4; ?G9 98;5; 56789 I?J 98A9 A5; JA4D6I7 A5?GI= J698 A 46994; HAE;5A ?I A :95A@ AI= A C;49 GI69 46D; A E6H5?@8?I; J698 A 46994; @4A:96H 9GC; 98A9 5GI: G@> #8;F HAI :46@ 98A9 @6;H; ?I 98;65 9?I7G;K AI= 98;F HAI :;; 98; J?54=> #8;F 8A<; AH9GA44F =;<;4?@;= 986: 9;H8I?4?7F 9? 98; @?6I9 56789 I?J 98A9 98;F HAI 5;H?7I6Z; BAH;:> #8A9 6: 8?J 7??= 986: :@;H6A46Z;= =;<6H; J?5D: J698 98; 9?I7G;> #8A9 6: 98; HA@AC6469F ?B F?G5 C5A6I> *?G 8A<; 9? GI=;5:9AI= 98A9 986: 6: 98; :H6;IH; 56789 I?J> *?G5 C5A6I 6: HA@AC4; ?B AEAZ6I7 986I7:> *?G A5; HA@AC4; ?B AEAZ6I7 986I7:> -?J;<;5K 98; H8A44;I7; 6: 9? EAD; :G5; 98A9 F?G5 C5A6I 6: H?I96IG?G:4F B?HG:;= ?I H8AI7;> *?G 8A<; 9? C;76I 9? B?HG: ?I 98; H8AI7; 98A9 F?G JAI9> 1: $ :A6= J698?G9 A 9A57;9K 69 6: 9?G78 9? A6E AI= AH86;<; =;:65AC4; 5;:G49:> *?G I;;= 9? 5;A= 986: C??DK Q#8; T5A6I 98A9 %8AI7;: $9:;4B>R 1: $ :A6=K 69 J644 H8AI7; F?G5 @;5:@;H96<; ?B F?G5:;4BK AI= E?5; 6E@?59AI94FK ?B J8A9 69 6: @?::6C4; 9? AH86;<; 6I F?G5 =A64F 46<;:> 17A6IK J; J644 7? CAHD 9? ?G5 H4A569FK H?E@;9;IH;K AI= H?IB6=;IH; =6:HG::6?I>
7K%3; L3'#$%E 0, " 93"0* L3'#$%E &<;5F 96E; 98A9 F?G :9A59 9? 7;9 B5G:95A9;= J698 A H46;I9 J8? 6: I?9 EAD6I7 A H8AI7;K F?G :8?G4= 5;E;EC;5 986: AI= F?G J644 7?K F;A8K J;[5; I?9 5;J656I7 F?G5 C5A6I WG69; 56789> &<;5F986I7 98A9 8A@@;I: 6I 98; C?=F 6: AC?G9 5;J656I7 98; C5A6IK AI= EAD6I7 69 5GI E?5; ;BB6H6;I94F> -?J EAIF ?B F?G 8A<; H46;I9: 98A9 :95G774; J698 98;65 =6;9A5F @4AIe $ AE H;59A6I 98A9 I? ?I; 6I 8;5; 8A: ;<;5 :95G774;= J698 86: ?5 8;5 ?JI =6;9A5F @4AI> #8A9 6: A C5A6I @5?C4;E> $9 6: I?9 A :;4BN=6:H6@46I; @5?C4;E> $9 6: I?9 A J644@?J;5 @5?C4;EK CG9 69 6: A C5A6I @5?C4;E> &<;5F986I7 6: A C5A6I @5?C4;E> #8;5; 6: A 4?9 ?B EA9;56A4 98A9 F?G I;;= 9? GI=;5:9AI= AC?G9 8?J 98; C5A6I BGIH96?I:> &<;5F?I; 6: AI A984;9;] 69 6: 6E@?59AI9 9? E; 98A9 F?G :9A59 9? 5;H?7I6Z; 98A9 A: J;44 A: 98; BAH9 98A9 ;<;5F986I7 6: A :D644> T;HAG:; J8;I;<;5 F?G JA9H8 98; ON-;A498 95A6I6I7 :;::6?IK F?G A5; 7?6I7 9? :;; EAIF @;?@4; =?6I7 986I7:K J86H8 J644 EAD; F?G 986IDK Q#8A9[: J;65=> \8F =? F?G 8A<; 98A9 ?4= 4A=F =?6I7 <6:6?I :9GBBe \8F 6: 98A9 ?4=;5 4A=F =?6I7 :?E;986I7 46D; @4AF6I7 HA9H8e \8F 6: :8; JA5E6I7 G@eR \; 95;A9 ;<;5FC?=F 98; :AE; JAF] J; A::GE; 98A9 F?G A5; AI A984;9;> *?G A5; A 8GEAI C;6I7] 98;5;B?5;K F?G :8?G4= C; AI A984;9;> /AIF @;?@4; 7;9 6I9? 98; B69I;:: 6I=G:95F ?5 C;H?E; B69I;:: A984;9;: C;HAG:; 98;F HAII?9 =? AIF986I7 ;4:;> 0?;: ;<;5F?I; 8;A5 98A9e /AIF ?B F?G5 H46;I9: J?G4= 5A98;5 C; @4AF6I7 #8;F J?G4= 5A98;5 @4AF CA:D;9CA44K CG9 EAFC; 98;F HAII?9 C;HAG:; 98;F HAII?9 :;;K ?5 EAFC; C;HAG:; 98;F 8A<; A CA4AIH; @5?C4;E> #8;5; A5; ;A:F JAF: 9? A::;:: 98;:; @?9;I96A4 6::G;: AI= B6U 98;E> $9 6: 6E@?59AI9 9? E; 98A9 F?G :9A59 9? GI=;5:9AI= 98;:; @?6I9:X &<;5F?I; 6: AI A984;9;K AI= 98; :;H?I= 986I7K ;<;5F986I7 6: A :D644> $ 8?@; 98A9 F?G GI=;5:9AI= 98A9 :;H?I= H?IH;@9 56789 I?J> *?G HAI A44 GI=;5:9AI= 98A9 EA5D;96I7 6: A :D644K AI= 98A9 H4?:6I7 6: A :D644> $: H4?:6I7 98; :AE; 986I7 A: J5696I7 A EA5D;96I7 @6;H;e !?K 98;F A5; =6BB;5;I9> &<;5F986I7 6: A :D644> \8;I F?G 4??D A9 E?<6I7 AI= C;H?E6I7 :95?I7;5K E?5; B4;U6C4;K AI= 8A<6I7 C;99;5 5AI7; ?B E?96?IK A44 ?B 98?:; A5; AH9GA44F 6I=;@;I=;I9 :D644:> #8;5;B?5;K A: A H?AH8K F?G 8A<; 9? 8A<; 75;A9 H4A569F AC?G9 J8A9 F?G5 H46;I9: I;;= 98; E?:9> $ AE 7?6I7 9? E?<; ?I A 46994; C69 C;HAG:; 986: J644 8;4@ F?G 9? GI=;5:9AI= 98; C5A6I A 46994;
C69 E?5;> \; J644 I?J A==5;:: A <;5F :6E@4; WG;:96?I> $: 98; C?=F E?5; ?56;I9;= 9?JA5=: :G5<6
!=% 93"0* 0, @"34?<03%4 -?J =? F?G 986ID 98A9 F?G A5; J65;=e *?G A5; J65;= B?5 :G5<6 -?J =? J; DI?J 98A9e T;HAG:; 6B F?G 985?J :?E;986I7 A9 E;K $ J644 B46IH8> $B $ 9?GH8 A 8?9 :9?<;K 98;I $ J644 V;5D EF 8AI= CAHD> -?J;<;5K 98;5; 6: I? :GH8 986I7 A: A =GID 5;B4;U> $ J6:8 98A9 98;5; J;5;K CG9 98;5; 6: I?9> #8;5; 6: I? 7?6I7 BA:9 5;B4;U> $I:9;A= F?G 7;9 CAHDK E?<; AJAFK AI= B46IH8> #86: 6: HA44;= A B4;U?5 J698=5AJA4 5;B4;U> \8;I;<;5 :?E;986I7 5;A44F :HA5;: F?GK J8A9 =? F?G =?e *?G 7;9 :EA44K F?G 7;9 96789K AI= F?G A::GE; 98; B;9A4 @?:696?I :? 98A9 I?I; ?B 98; 6E@?59AI9 @A59: 4?HA9;= ?I 98; E6=46I; A5; ;A9;I> \; A5; J65;= B?5 :G5<6 1I=K J8A9 6: 6I9;5;:96I7 6: 98A9 6B F?G GI=;5:9AI= 98A9K 98;I A44 ?B 98; :G==;I 98; @5?C4;E: 98A9 F?G5 H46;I9: 8A<; C;H?E; EGH8 E?5; AHH;::6C4; 9? F?G> $ 8A<; 986: 75;A9 @6H9G5; 9? =;E?I:95A9; 986:K 8?@;BG44F F?G HAI :;; 98A9> \8A9 J; 8A<; 98;5; 6: :FIH85?I6Z;= B46IH86I7> $9 6: A I;J "4FE@6H :@?59> 1 CA:;CA44 CA9 6: B4F6I7 6I9? 98; H5?J= A9 A CA:;CA44 7AE; 6: A @;5B;H9 ;UAE@4; ?B I;G5?4?76H 8A5= J656I7> 144 98; Q<6H96E:R 6I 986: @8?9? A5; =?6I7 98; :AE; 986I7> &<;I 98; A5E AI74;: AI= 98; BAH6A4 ;U@5;::6?I: A5; A44 98; :AE;> #86: 6: J8A9 F?G 4??D 46D; J8;I A HA9 :HA5;: F?G J8;I F?G A5; 9AD6I7 98; 95A:8 ?G9 A9 I6789 AI= F?G A5; 986ID6I7 Q\8?AKR AI= 98;I F?G 95F 9? 4??D H??4 46D; 69 =6= I?9 8A@@;I> #8A9 6: J8? F?G A5; A9 98; E?:9 CA:6H 4;<;4> *?G A5; A :G5<6 *?G5 C;8A<6?5A4 6E@;5A96<; 6: 98A9 F?G :9AF A46<; AI= I?9 GI=;5:9AI=6I7 986: 6: A 8G7; =6:H?II;H9> $ AE 7?6I7 9? 9A4D A 46994; C69 AC?G9 @A6I 8;5; 6I VG:9 A :;H?I=> -?J;<;5K 98; 986I7 98A9 F?G I;;= 9? 5;A46Z; 6: 98A9 A44 @A6IK A44 @;5B?5EAIH; A9 98; @8F:6HA4 4;<;4K 6: 7?<;5I;= CF 986:> *?G5 H46;I9[: C?=F 6: H?I:9AI94F =;H6=6I7 J8;98;5 98; AH96<69F 98A9 69 6: GI=;57?6I7 6: =AI7;5?G: ?5 I?9> #8A9 6: J8A9 98; C?=F =?;:> $9 6: 95F6I7 9? =;9;5E6I; 6B 986: @5?@?:;= AH96<69F 6: :HA5F ?5 I?9> $B 69 6: 9?? :HA5F B?5 98; I;5
&.10,01(; $9 6: A 5;A44F :6E@4; 6=;A> -?J;<;5K 8?J 69 C;76I: 9? EAI6B;:9 69:;4B 6: @5;99F :95AI7;>
$ 8A= 9? @G9 98A9 @6H9G5; G@ C;HAG:; 98A9 6: A @;5B;H9 ;UAE@4; ?B 98; C;8A<6?5A4 6E@;5A96<;> #86: 6: B5?E ?I; ?B ?G5 95A6I6I7 H?G5:;:> *?G HAI :;; 98A9 98; 7GF 6: B46IH86I7> 1: =AI7;5 6IH5;A:;:K ?G5 6I:96IH96<; 5;:@?I:;: 7? G@> -?J EAIF ?B F?G5 H46;I9: 8A<; @5?C4;E: J698 98;65 IG95696?IA4 6::G;:e "I; BAH9?5 98A9 6: E?:9 :95?I74F 5;4A9;= 9? A C;8A<6?5A4 6E@;5A96<; 6: 98; H?EEAI= 9? I?9 :9A5<; ?I;:;4B> #8; 8GEAI I;5 /AIF 96E;:K 6I 98; =;;@ =A5D 5;H;::;: ?B ?G5 E6I=K J8;I ?G5 H46;I9: A5; B?44?J6I7 98;65 =6;9 @4AI J; A5; 986ID6I7K Q*?G 4AZF :?I ?B A 7GI>R J8;I J; :8?G4= :AF K Q"8K :? F?G A5; VG:9 :HA5;= ?B :9A5<6I7>R #8A9 6: A @5?=GH96<; A9969G=; 9? 8A<;K AI= 69 C;76I: 9? 8;4@ F?G 9? B5AE; 986I7: =6BB;5;I94F A: J;44 A: 9? :@;AD 9? @;?@4; =6BB;5;I94F ?I 986: 6::G;> $ AE 95F6I7 9? 76<; F?G 5;4; f496EA9;4FK =6BB;5;I96A96I7 F?G5 CG:6I;:: 6: CA:;= ?BB H?E@;9;IH; AI= GI=;5:9AI=6I7 986I7:K J86H8 ?98;5 @;?@4; =? I?9 GI=;5:9AI= 56789 I?J> $ AE 7?6I7 9? 76<; F?G A @8F:6HA4 ;UAE@4; 8;5; 6I VG:9 A :;H?I= C;HAG:; $ AE A E?<;E;I9 7GFK :? $ 46D; B?5 @;?@4; 9? AH9GA44F ;U@;56;IH; :9GBB 5A98;5 98AI VG:9 8;A5 AC?G9 69> +6789 I?JK J8A9 F?G A5; :;;6I7 6: J8A9 J; GI=;5:9AI= AC?G9 98; =AI7;5 A::;::E;I9 5;:@?I:; 6I 98; B6;4= ?B I;G5?4?7F> >#8; 8GEAI C5A6I 5;:@?I=: 9J? JAF: 9? @;5H;6<;= 985;A9:>
!=% 1"+53"$ :%,.'*,% 60$+%3 #8; 8GEAI C5A6Ib: 9J? 5;:@?I:; E;98?=: A5; HA44;= 98; 4?J 5?A= AI= 98; 8678 5?A=> \8A9 $ 4?<; AC?G9 986: 6: 98A9 69 9;44: E; 98A9 @;?@4; A5; E?5; A46D; 98AI 98;F 986ID> \; 9;I= 9? C;46;<; 98A9 J; A5; <;5F 5A96?IA4 @;?@4; AI= EAD; =;H6:6?I: CA:;= ?I 986: @5;E6:;> -?J;<;5K J; =? I?9 5;A46Z; 98A9 J; A5; J65;= 9? H8??:; 98; 4?JN5?A= 5;:@?I:;> \8;I;<;5 F?G 4??D A9 98; 8GEAI C5A6IK 98;5; 6: 986: J8?4;K :95AI7; J656I7 :F:9;E> !;<;598;4;::K J8A9 F?G I;;= 9? GI=;5:9AI= 6: 986:> &<;5F986I7 98A9 8A@@;I: 6I F?G5 46B;K ;<;5F :6I74; ;U@;56;IH; 98A9 F?G 8A<; 6I F?G5 46B;K @A::;: 985?G78 A B649;5> #8A9 B649;5 J?5D: =?JI A9 98; H;I9;5 ?B F?G5 C5A6I 6I A @A59 ?B 98; C5A6I HA44;= 98; AEF7=A4A> 0?;: AIF?I; DI?J 98; 9;5E C6IA5Fe T6IA5F 6: A :F:9;E ?B H?E@G9;5 H?=;: H?E@56:;= ?B Z;5?;: AI= ?I;:> #8; AEF7=A4A ?@;5A9;: ?I A C6IA5F :F:9;E> $9 9AD;: 6I ;<;5F C69 ?B 6IB?5EA96?I B5?E F?G5 ;I<65?IE;I9 6IH4G=6I7 ;<;5F 98?G789 98A9 F?G 8A<;K ;<;5F 6I9;5AH96?I J698 F?G5 H46;I9K ;<;5F986I7 98A9 F?G ;U@;56;IH; @8F:6HA44F] AI= 69 =;9;5E6I;: J8;98;5 :?E;986I7 6: =AI7;5?G: ?5 I?9> #8A9 6: 69: ?I4F V?C 6I 98; C;76II6I7K AI= 98A9 6: =;B6I;= A: 98; 4?JN5?A= 5;:@?I:;> #8; 4?JN5?A= 5;:@?I:; 6: 985;; 9? B?G5 96E;: BA:9;5 98AI F?G5 H?I:H6?G: 986ID6I7> #86: E;AI: 98A9 F?G A5; 7?6I7 9? 5;:@?I= 5;B4;U6<;4F C;B?5; F?G 5;:@?I= 4?76HA44F A9 98; E?:9 CA:6H 4;<;4> #86: 8A: 8G7; 6E@46HA96?I: 6I =;H6:6?INEAD6I7K A: J;44 A: 6I :@?59:> $9 8A: 8G7; 6E@46HA96?I: 6I 98; :9G=F ?B @A6I EAIA7;E;I9 A: J;44 A: 8?J J; 95A6I @;?@4;> #8;5;B?5;K 98; 5AE6B6HA96?I: A5; 8G7;> +;E;EC;5 98A9 F?G HAI 8A<; A 4?JN5?A= 5;:@?I:; AI= F?G HAI 8A<; A 8678N5?A= 5;:@?I:;> #8; 4?J 5?A= 5;:@?I:; 6: EGH8 BA:9;5K AI= 69 6: EGH8 E?5; =65;H9> $9 956;: 9? EAD; F?G H8AI7; F?G5 C;8A<6?5> #86: 6: A 5;A44F ?4= =5AJ6I7> #86: =G=; 6: IAD;= CF 98; B65; AI= $ =? I?9 DI?J J8F> $ 8A<; 956;= EG496@4; 96E;: 9? B67G5; 69 ?G9 CG9 $ HAII?9 AI= $ =? I?9 5;H?EE;I= 986: C;8A<6?5> $B F?G HAI :;; 98; @6H9G5;K 98;I J8A9 F?G :;; 6: I?9 ?I4F 6: 8; IAD;= CG9 8; :9GHD 86: B??9 6I 98; B65; B?5 :?E; GIDI?JI 5;A:?I> #8;5; 6: A 46I; 98A9 6: 4;A<6I7 86: B??9] 69 6: 7?6I7 G@ 98; 4;7K AI= G@ 98; CAHD> %AI F?G :;; G@ 6I 98; 8;A=e #8;5; 6: AH9GA44F A 46994; 4AC;4;=
=?9> %AI F?G :;; 98A9e $ J644 @G9 98; A55?J G@ 8;5;> #8A9 6: 98; 4AC;4 =?9K 98; (> #86: =5AJ6I7 JA: =?I; 6I dhhkK AI= 69 644G:95A9;: 98; 0;:HA59;: 5;B4;U> \8A9 6: 6I9;5;:96I7 6: 98A9 E?:9 ?B F?G5 98;5A@6:9:K =?H9?5:K AI= F?G5 H46;I9: A44 C;46;<; 98A9 986: 6: 8?J @A6I J?5D:> &<;5FC?=F 9;I=: 9? C;46;<; 98A9 98; C5A6I 6: 6:?4A9;=> \; 8A<; A44 8;A5= AC?G9 98; 56789 C5A6IK 4;B9 C5A6I 98;?5FK J86H8 :9A9;: 98A9 98; 56789 C5A6I 6: B?5 H5;A96<69FK AI= 98A9 98; 4;B9 C5A6I 6: B?5 4?76H> *?G 8A<; 98; 4AI7GA7; H;I9;5K F?G 8A<; 98; AG=69?5F H;I9;5K AI= F?G 8A<; 98; <6:GA4 H;I9;5> -?J;<;5K A44 ?B 98A9 6: J5?I7> #8; C5A6I 6: EGH8 E?5; B4G6=> $9 6: EGH8 E?5; H?E@4;U> fIB?59GIA9;4FK J8A9 8A@@;I: 6: 98A9 @;?@4; 4??D A9 986: :6E@46:96H 6=;A ?B @A6I AI= 98;F 986ID 98A9 6B 98;F HAI VG:9 B67G5; ?G9 98; ?I; :?4G96?IK 98;I 98;65 :8?G4=;5 @A6I J644 7? AJAF> TF DI?J6I7 98; GI=;54F6I7 5;A:?IK DI;; @A6I J644 7? AJAF> #8;F J644 7;9 :95?I7;5 ?5 98;F J644 7;9 BA:9;5 C;HAG:; 98;5; 6: ?I; AI:J;5 B?5 ;<;5F986I7> #8;5; 6: I?9 ?I; AI:J;5 B?5 ;<;5F986I7> #8;5; A5; EG496@4; AI:J;5:K AI= 6B F?G GI=;5:9AI= 986: BAH9 C;99;5K 98;I 69 EAD;: E?5; :;I:;> *?G EG:9 GI=;5:9AI= 98A9 @A6I =?;: I?9 J?5D 986: JAF> #8;5; 6: I? ?I;K @A6I H;I9;5 6I 98; C5A6I> fIB?59GIA9;4F 986: gaaNF;A5N?4= @A6I 98;?5F 6: J8A9 E?:9 ?B F?G5 @5?B;::6?IA4: A5; :9644 ?@;5A96I7 J698] 98A9 6: A 46994; 4?I7;5 98AI 98; d`NF;A5 B649;5 ;BB;H9> #8A9 6: 98; gaaNF;A5 B649;5 ;BB;H9> \698 986: 6I E6I=K J; A5; 7?6I7 9? 7? A 46994; C69 =;;@;5 C;HAG:; $ I;;= F?G 9? GI=;5:9AI= @A6I> )A6I 6: A E;9A@8?5 B?5 A 4?9 ?B :9GBB 98A9 F?G A5; 9A4D6I7 AC?G9 8;5; B?5 F?G5 CG:6I;:: AI= ;<;5F986I7 ;4:;> \8A9 8A: ?HHG55;= ?<;5 98; 4A:9 d` F;A5: 6: 98A9 A C5AI= I;J GI=;5:9AI=6I7 8A: =;<;4?@;=> 2??D6I7 A7A6I A9 98;:; @6H9G5;:K 98A9 B??9 6I 98; BA5 H?5I;5 ?B 98; @6H9G5; 8A: A 9AHD GI=;5I;A98 98; 9?;> $I ?98;5 J?5=:K :?E;?I; 6: :9;@@6I7 ?I :?E;986I7 :8A5@> #8;I F?G :;; A 5?G96I7 985?G78 986: I;5<;K J86H8 6: 95A<;46I7 ;UAH94F 46D; 98; 0;:HA59;: 5;B4;U> #8; C677;:9 =6BB;5;IH; ?HHG5: J8;I F?G 7;9 G@ 9? 98; C5A6I> \8A9 =? F?G :;; 98;5;e *?G :;; EG496@4; A55?J:>
!=% !=3%"+ 1%53'M"+30N
-;5; 6: J8A9 J; I?J GI=;5:9AI= AC?G9 J8A9 6: 8A@@;I6I7> \8;I :?E;?I; 6: ;U@;56;IH6I7 @A6IK 6B J; 9AD; A @6H9G5; ?B 98;65 C5A6I A9 98A9 E?E;I9K F?G =? I?9 :;; ?I; A5;A ?B 98; C5A6I 46789 G@K CG9 5A98;5 F?G :;; :;<;I A5;A: ?B 98; C5A6I 46789 G@> \8A9 6: 5;A44F BA:H6IA96I7 6: 98A9 J8;I F?G 4??D A9 98;:; =6BB;5;I9 A5;A: ?B 98; C5A6I 98A9 46789 G@ AI= J8A9 98;F A5; 7;I;5A44F A::?H6A9;= J698K 98;F A5; I?9 J8A9 F?G J?G4= ;U@;H9> #8; A5;A: ?B 98; C5A6I 98A9 46789 G@ 8A<; E?5; 9? =? J698 986I7: 46D; 98; BG9G5; AI= 98; @A:9> #8;F 6IH4G=; 98?G789: 46D;K Q-A<; $ 8G59 98A9 DI;; C;B?5;e "8K F;A8 7?=K 98A9 B;;4: 98; :AE;> "8 7;;ZK EAIK $ C4;J EF 1%2 _a F;A5: A7?>R p;5F 46994; ?B 98; @A6I ;U@;56;IH; 8A: 9? =? J698 98; AH9GA4 @8F:6HA4 6IVG5F> $I:9;A=K 69 WG;:96?I: J8A9 6: 986: 6IVG5F 7?6I7 9? =? 9? EF J?5DK EF V?C AI= 9? EF BAE64Fe *?G5 C5A6I J644 A4:? I?9; 8?J :HA5F 98; ;U@;56;IH; 6:> *?G J644 I?9; A44 ?B 98;:; =6BB;5;I9 986I7:> \8A9 6: H??4 AC?G9 GI=;5:9AI=6I7 986: 6: 98A9 A44 ?B A :G==;I F?G C;76I 9? 5;A46Z; 98A9 F?G 8A<; 75;A9;5 H?I95?4 ?<;5 A44 98; :9GBB B?5 F?G5:;4B AI= F?G5 H46;I9: 98AI F?G ;<;5 6EA76I;=K CG9 69 A44 H?E;: =?JI 9? J8;98;5 F?G HAI GI=;5:9AI= 69> \; HA44 986: 98; #85;A9 !;G5?EA956U 6I ON-;A498> #8;5; 6: A <;5F :6E@4; 5;A:?I B?5 98A9> 2;9 E; A:D F?G A :6E@4; WG;:96?I> -?J EAIF ?B F?G 8A<; A H85?I6H Q986I7eR $9 HAI C; A :8?G4=;5K A 86@K A DI;;K A 8;A=AH8;K ?5 J8A9;<;5> $B F?G A5; 8?I;:9K 98;I F?G :8?G4= 5A6:; F?G5 8AI= A9 :?E; @?6I9 C;HAG:; F?G A5; AI A984;9;> 1984;9;: 6I 7;I;5A4 8A<; :?E;986I7K Q"8K F;A8 69[: EF 956HD DI;;>R +;A44FeK \8A9 D6I= ?B 956HD =?;: 69 =?e +?44: ?<;5K CA5D :?E;96E;:e $ =? I?9 DI?J> Q$9[: EF CA= :8?G4=;5>R \8A9 =6= 69 =? 98A9 EA=; 69 :? CA=e f496EA9;4FK J8A9 8A@@;I: 6: 98A9 F?G 7;9 C;99;5 A9 J8A9 F?G @5AH96H;> 2;9[: :AF 98A9 F?G A5; _a F;A5: ?4= AI= F?G 7? ?G9 AI= @4AF 6I A :?HH;5 7AE;> \864; @4AF6I7K F?G 5?44 F?G5 AID4;K AI= 98;I F?G :@;I= h J;;D: 8?CC46I7 A5?GI= ?I A :?5; AID4;> *?G 8A<; I?J CG649 A I6H; @A6I @A99;5IK :? 98A9 J8;I;<;5 98;5; 6: A 985;A9K AI= F?G :8?G4= 5;E;EC;5 98A9 J; A5; 7?<;5I;= CF 985;A9K F?G5 C?=F J644 <;5F ?B9;I 7?c$ JAI9 F?G 9? WG69 986: 5;4A96?I:86@ 98A9 F?G A5; 6IK CG9 69 HAII?9 5;A44F 7;9 F?G5 A99;I96?I 98A9 JAF> #8;5;B?5;K J8A9 =?;: 69 95F 9? =?e $9 956;: 9? 7;9 F?G5 A99;I96?I AIF JAF 98A9 69 HAI> p;5F ?B9;IK 69 J644 7;9 F?G5 A99;I96?I CF EAD6I7 J8A9 G:;= 9? 8G59K 8G59 A7A6I C;HAG:; 69 6: ;A:F B?5 98; E6I= 9? VG:9 :GHHGEC 9? @A6I> 0?;: ;<;5F?I; GI=;5:9AI=
98A9e 2;9 E; 76<; F?G A C;99;5 ;UAE@4;K EAFC; A =6BB;5;I9 ;UAE@4;> $I doolK 98;F =6= 986: 8G7; :9G=F A9 T?;6I7> #8; T?;6I7 :9G=F 9??D lKaaa @;?@4;K AI= 98; 5;:;A5H8;5: :9G=6;= 98; @A596H6@AI9: B?5 AC?G9 di E?I98:> #8; J8?4; 6=;A JA: 9? B67G5; ?G9 J8? JA: 7?6I7 9? =;<;4?@ 4?J;5 CAHD @A6I>
<=' 2, F'0*C !' O%K%$'. 9"/P L"0*A #8;F =6= A44 ?B 98;:; C6?E;956H: 6I ?5=;5 9? =;9;5E6I; 98; 46D;468??= ?B =;<;4?@6I7 4?J;5 CAHD @A6I> #8;F J;678;= 98;E> #8;F =6= :95;I798 9;:96I7 ?I 98;E> #8;F =6= B4;U6C6469F 9;:96I7 ?I 98;E> #8;F 4??D;= A9 98;65 V?C 5;WG65;E;I9:K AI= 98;F A:D;= 98;E A :;56;: ?B WG;:96?I:K 6IH4G=6I7 J8;98;5 98;F :69 ?5 :9AI= B?5 4?I7 @;56?=:K AI= J8;98;5 98;F 5?G96I;4F E?<;= :9GBB A5?GI= 6I 98;65 =AFN9?N=AF 46<;:> #8;F J;5; 95F6I7 9? =;9;5E6I; J8A9 ;UAH94F 98; @A596H6@AI9: =6= ?I A =A64F CA:6:> #8;F 7?9 98; =A9A 9?7;98;5 ?<;5 A @;56?= ?B di E?I98:> #8;F H?44A9;= 69K AI= 98;F @G9 69 9?7;98;5 6I ?5=;5 9? =5AJ H?IH4G:6?I:> #8;5; JA: ?I; BAH9?5 CG9 ?I4F ?I; BAH9?5 98A9 98;F HAE; G@ J698 98A9 JA: A 7??= 6I=6HA9?5 ?B J8? JA: 7?6I7 9? ;U@;56;IH; 4?J;5 CAHD @A6I> +;E;EC;5K 4?J;5 CAHD @A6I 6: 98; H4A::6H 8GEAI ;U@;56;IH;> -A: AIFC?=F 8;5; ;<;5 8A= 69e 39A96:96HA44FK iaj 9? oaj ?B 98; f3 @?@G4A96?I 6: 7?6I7 9? 8A<; A CA= ;@6:?=; A9 :?E; @?6I9> "I; BAH9?5 6: A =;9;5E6IAI9 ?B 4?J;5 CAHD @A6Ic =? F?G JAI9 9? <;I9G5; A 7G;:: A: 9? J8A9 69 JA:e #8; AH9GA4 AI:J;5 98A9 98;F HAE; G@ J698 JA: V?C =6::A96:BAH96?I> -?J EGH8 =? F?G 8A9; F?G5 V?Ce $B F?G 8A9; F?G5 V?CK 98;I F?G HAI 7;9 4?J;5 CAHD @A6I> $B F?G 8A9; F?G5 46B;K 98;I F?G HAI 7;9 :8?G4=;5 @A6IK ?5 J8A9;<;5 ?98;5 A64E;I9:> "I; 8GI=5;= @;5H;I9 ?B F?G 5A6:;= F?G5 8AI=: J8;I $ A:D;= 98; WG;:96?I Q8?J EAIF ?B F?G 8A<; H46;I9: J698 @A6IR> \8;I F?G C;76I 9? GI=;5:9AI= 986: :9GBBK 98;I J8A9 8A@@;I: 6: 98A9 F?G 7? A44 98; JAF CAHD 9? 98; H4A569F H?IH;@9> \8A9 =? 98;F JAI9e #8;F JAI9 9? C; C;99;5> #8;F JAI9 A =6BB;5;I9 46B;> #8;5;B?5;K A 4?9 ?B 98; @A6I 98A9 98;F ;U@;56;IH; 6: :?E;986I7 98A9 F?G A5; 7?6I7 9? 9AD; HA5; ?B VG:9 CF 76<6I7 98;E 8?@;K VG:9 CF 76<6I7 98;E =65;H96?IK AI= VG:9 CF 76<6I7 98;E A @4AI> #8;5; A5; EAIF JAF: 9? 9AD; HA5; ?B A H46;I9 AI= 98;65 6::G;: WG6HD4F> \8;I;<;5 J; :9A59 9A4D6I7 AC?G9 98; 985;A9 I;G5?EA956UK J; 95F 9? C?64 986I7: =?JI 9? A E?5; @8F:6HA4 4;<;4 C;HAG:; J; A5; I?9 H?GI:;4?5:K AI= J; A5; I?9 @:FH8?4?76:9:> 19 98; ;I= ?B 98; =AFK $ A4JAF: 9;44 @;?@4; 98A9 $ AE A B6789;5 AI= 98A9 $ AE A @5AH96HA4 7GF>
-?J EAIF ?B F?G 75;J G@ 6I 98; T5GH; 2;; ;5Ae T5GH; 2;; JA: ?I; ?B EF C?F8??= 8;5?;:> "I; ?B EF BA -; :E64;= AI= 5;:@?I=;=K Q\8;I B6:9 E;;9: B4;:8>R $ =? I?9 HA5; 8?J 986I7: 7;9 =?I;K CG9 98A9 6: 98; J8?4; 6=;A> \; A5; <;5F @5AH96HA4> $ AE 76<6I7 F?G A44 986: 98;?5;96HA4 :9GBB> 2;9 E; 76<; F?G :?E; <;5F @5AH96HA4 :9GBB I?J 9? :9A59 986ID6I7 AC?G9> $ AE 7?6I7 9? 9A4D AC?G9 J8A9 8A: C;;I HA44;= 98; 985;A9 86;5A5H8F>
!=% L%3('3E"*/% "*4 !=3%"+ @0%3"3/=; *?G5 ;I965; 46B; 6: AI ;I<65?IE;I9A4 6I9;5AH96?I> *?G A5; ;698;5 6I9;5AH96I7 J698 F?G5 6I9;5IA4 ;I<65?IE;I9 ?5 F?G5 ;U9;5IA4 ;I<65?IE;I9e 0? F?G GI=;5:9AI= 98A9e 2;9[: :AF 98A9 $ AE ?G9 B?5 A 5GI> $ AE ?G9 ?I 98; @A<;E;I9 V?776I7 A4?I7 J8;I $ 4??D G@ AI= 98;5; 6: EF I;678C?5 J698 86: +?99J;64;5> $ 8A9; 98A9 =?7K AI= $ AE 5GII6I7> #8;I $ 4??D G@ AI= 98; =?7 6: 7?6I7 IG9: B?5 J8A9;<;5 5;A:?I> $9 :;;: E; AI= EAFC; J; B;;4 98; :AE; JAF AC?G9 ?I; AI?98;5> -; 6: =6776I7 A5?GI= AI= EF C5A6I 6: =?6I7 J8A9e $9 6: A::;::6I7 @5?CAC64696;: B?5 98; 76<;I :69GA96?I> 0?;: EF I;678C?5 4??D HA@AC4; ?B 8?4=6I7 ?I 9? 986: AI6EA4K ?5 :8?G4= $ 9G5I A5?GI= AI= 7? 98; ?98;5 JAF> 144 ?B 98A9 6IB?5EA96?I 6: C;6I7 5GI 985?G78 985;; @56EA5F B649;5:X EF <6:GA4 :F:9;EK EF <;:96CG4A5 :F:9;EK J86H8 6: A4:? DI?JI A: EF CA4AIH; :F:9;E 98A9 =;9;5E6I;: 8?J $ 6I9;5AH9 J698 75A<69FK AI= 98;I EF :?EA9?:;I:?5F ?5 EF @5?@56?H;@96<; :F:9;EK J86H8 6: EF E?<;E;I9 :F:9;E> 0?;: ;<;5F?I; GI=;5:9AI= 98A9e *?G 8A<; 985;; 6E@?59AI9 :F:9;E: 6I 98; C?=FK J86H8 A5; =;B6I;= A: 98; <6:GA4K 98; <;:96CG4A5K AI= 98; @5?@56?H;@96<;> \8A9 8A@@;I: 6B F?G :?E;8?J H?E; 9? =;<;4?@ A =;B6H69 6I AIF ?I; ?B 98;:; :F:9;E:e \8A9 =? F?G 986ID 98A9 J644 =? 9? F?G5 @;5B?5EAIH;e $: 69 7?6I7 9? 8G59 69K ?5 6: 69 7?6I7 9? 6E@5?<; 69e \8A9 6: <;5F BA:H6IA96I7 AC?G9 986: @5?H;:: 6: 98A9 69 6: AH9GA44F 86;5A5H86HA4> $B $ AE 95F6I7 9? :G5<6<; 986: ;IH?GI9;5 J698 98; =?7K 98;I 6: 69 C;99;5 98A9 $ :;; 69 ;A54F ?5 6: 69 C;99;5 6B $ ;U@;56;IH; 69 @8F:6HA44Fe $ J?G4= 46D; 9? DI?J J8A9 6: H?E6I7 6I A= #8A9 6: F?G5 <6:GA4 :F:9;E> #8; <6:GA4 :F:9;E 6: F?G5 @56EA5F :F:9;E> $9 6: AH9GA44F ;A:F 9? A::;::K AI= 69 6: <;5F ;A:F 9? 95A6I> !=% Q0,5"$ -;,+%E
0? F?G GI=;5:9AI= 98A9 <6:6?I 6: A :D644] 98A9 69 6: A 4;A5I;= :D644e /?:9 @;?@4; :AFK Q"8K <6:6?IK F;A8K F;A8 $ 7?9 75;A9 ;F;:K _aM_aKR $9 6: 6E@?59AI9 9? 5;A46Z; 98A9 98; A::;596?I 98A9 F?G 8A<; _aM_a <6:6?I 8A: A4E?:9 I?986I7 9? =? J698 AIF986I7> $I :@?59: F?G EAF 8A<; A 75;A9 CA:D;9CA44 @4AF;5 ?5 A 75;A9 9;II6: @4AF;5> 1I=K J8A9 =? 98;F :AFe \;44K 98A9 A984;9; J644 :AF 98A9 8; 8A: 75;A9 ;F;:K AI= 98A9 8; 8A: 75;A9 <6:6?I> \8A9 =?;: 98A9 E;AIe
#8;5; A5; I6I; =6BB;5;I9 <6:6?I :D644: 98A9 F?G HAI 9;:9 AI= 98A9 F?G HAI 95A6I> $B F?G A5; I?9 =?6I7 98A9K 98;I F?G A5; I?9 =;A46I7 J698 98; IGEC;5 ?I; 985;A9 9? F?G5 H46;I9:> \8A9 J644 C4?J F?G5 E6I= 6: 98A9 F?G J644 :9A59 9? =6:H?<;5 98A9 @;?@4; 8A<; :8?G4=;5 @A6I A 4?9 ?B 96E;: I?9 C;HAG:; 98;65 :8?G4=;5 6: :H5;J;= G@K CG9 C;HAG:; 98;65 <6:6?I 6: :H5;J;= G@> \8A9 J?G4= F?G =? J698 F?G5 8;A= AI= I;HD 6B F?G H?G4= I?9 :;;e $B $ B?GI= EF:;4B 6I 986: :69GA96?IK 98;I $ J?G4= 95F 9? 7;9 H4?:;5 AI= 95F 9? A=VG:9 EF 8;A= AI= I;HD @?:696?I> /F H?55;H9;= @?:9G5; J?G4= 9AD; HA5; ?B EF ;F;:> \8A9 A5; F?G 7?6I7 9? =? 9? 98; I;5<; 98A9 6: 7?6I7 6I9? F?G5 :8?G4=;5:e )?9;I96A44FK 986: 6: 7?6I7 9? H5;A9; A @5?C4;EK CG9 G496EA9;4F 98A9 6: 76<6I7 F?G A C6?E;H8AI6HA4 AI:J;5 9? A I;G5?4?76H @5?C4;E C;HAG:; VG:9 8A<6I7 A <6:GA4 @5?C4;E 6: ;I?G78 9? EAD; 98; J?54= :HA56;5> 0?;: ;<;5F?I; GI=;5:9AI= 98A9e #8; 9;5E 98A9 $ 7A<; F?G JA: A 985;A9 I;G5?EA956U J8;5; ;<;5F986I7 H?E;: =?JI 9? 985;A9 @;5H;@96?I> $B EF C?=F JAI9: E; 9? :G5<6<;K 98;I 69 6: E?5; 6E@?59AI9 B?5 E; 9? :69 ?I EF CG99 98AI 69 6: B?5 E; 9? 7;9 G@ AI= E?<;> #86: 6: 95G; B?5 A 4?9 ?B F?G5 H46;I9:> *?G A:D 98;E J8;I F?G 9AD; 6I696A4 86:9?5FK Q8;F =? F?G 46D; :@?59:eR 1I=K F?G5 H46;I9 5;@46;:K Q$ 8A9; :@?59:> $ I;<;5 JA: @6HD;= J8;I $ JA: A D6=> #8; B65:9 96E; 98A9 $ J;I9 ?G9 9? @4AF :?B9CA44K $ JA: 869 ?I 98; BAH;> $ 8A<; 8A9;= :@?59: ;<;5 :6IH; 98;I> $[E VG:9 I?9 A984;96H>R #8; 95G98 6: @5?CAC4F I?9 98A9 F?G A5; I?9 A984;96HK F?G @5?CAC4F VG:9 HAII?9 :;;> \?G4=I[9 @A5;I9: 5A98;5 9AD; 98;65 D6=: 9? 98; =?H9?5 98AI 8A<; 98;E :69 A9 8?E;e !?K 98;F J?G4= I?9> $I _aagK 98; f3 "4FE@6H 9;AE =6= A :G5<;F 9? =;9;5E6I; 8?J EAIF ?B 69: A984;9;: 8A= ;<;5 8A= AI ;F; ;UAE> #8; AI:J;5 JA: 98A9 ?I4F `aj ?B 98; f3 "4FE@6H 9;AE 8A= 8A= AI ;F; ;UAE A9 :?E; @?6I9 6I 98;65 46<;:> #8A9 6: ?G5 "4FE@6H 9;AE> #8;5; 6: :? EGH8 7?6I7 ?I VG:9 B?5 98; <6:GA4 :F:9;E> $B F?G JAI9 :?E;986I7 9? =6BB;5;I96A9; F?G5 CG:6I;::K 98;I F?G :8?G4= 5;A46Z; 98A9 98;5; A5; @5?CAC4F I?9 EAIF @;?@4; 98A9 A5; EAD6I7 A= !?9 EAIF @;?@4; 8A<; 8;A5= AC?G9 :@?59: <6:6?I 98;5A@F> !6D; JA: AI ;UH;@96?I 9? 986:> 3@?59: <6:6?I 6: I?9 VG:9 B?5 A984;9;: J8? A5; ?G9 98;5; 5GII6I7 A5?GI= 98; 95AHD AI= @4AF6I7 B??9CA44> $9 6: B?5 ;<;5FC?=F 98A9 6: 6I @A6I C;HAG:; <6:6?I A4JAF: EAD;: A =6BB;5;IH;>
!=% Q%,+0#5$"3 -;,+%E
!;U9 F?G 8A<; 98; <;:96CG4A5 :F:9;E> #8; <;:96CG4A5 :F:9;E 6: F?G5 ?IC?A5= CA4AIH; :F:9;E> $9 6: J8A9 D;;@: F?G ?56;I9;= J6986I 98; ;I<65?IE;I9> $9 6: 6E@?59AI9 9? 5;E;EC;5 98A9 98; <6:GA4 :F:9;E AI= 98; <;:96CG4A5 :F:9;E J?5D 9?7;98;5> *?G HAI 9;:9 AI= 95A6I 98; <;:96CG4A5 :F:9;E 9??> +6789 I?JK J; 8A<; EAIF @;?@4; ?G9 98;5; J8? A5; =?6I7 J8A9 98;F 986ID 6: CA4AIH; 95A6I6I7 AI= <;:96CG4A5 J?5D> #8;F A5; T"3f6I7 AI= J?CC4; C?A5=6I7K CG9 J8A9 6: 6I9;5;:96I7 6: 98A9 98; <;:96CG4A5 :F:9;E =?;: I?9 5;A44F 5;:@?I= <;5F J;44 9? 98?:; 9F@;: ?B AH96<696;:> $ 7? 6I9? 7FE: A44 98; 96E;K AI= $ ?B9;I 986IDK Q6: 69 A 7FEK ?5 6: 69 A H65HG: ;<;I9e R $ AE I?9 :G5; 98A9 :9AI=6I7 ?I A T"3fK VG7746I7 E;=6H6I; CA44:K ?5 J8A9;<;5 ;4:; 98A9 98;F A5; =?6I7 6: 5;A44F @5AH96HA4 B?5 E?:9 @;?@4;> $9 6: BGIK AI= $ AE I?9 :AF6I7 I?9 9? =? 69 6B F?G ;IV?F 69K CG9 $ AE :AF6I7 98A9 6B F?G A5; =?6I7 69 B?5 98; J5?I7 5;A:?IK 98;I 69 6: CA= :H6;IH; IGEC;5 ?I;K AI= 69 6: I?9 H5;A96I7 98; 5;:G49: 98A9 F?G JAI9> IGEC;5 9J?> *?G :8?G4= 4??D A9 A44 98; 5;:;A5H8 AI= F?G :8?G4= =;9;5E6I; 6B 69 5;A44F EAD;: F?G5 CA4AIH; C;99;5> \8;I F?G :9AI= ?I :?E;986I7 98A9 J?CC4;:K 98;I F?G ?I4F C;H?E; 7??= A9 :9AI=6I7 ?I :?E;986I7 98A9 J?CC4;:] 98A9 6: 69> $I:9;A=K F?G :8?G4= B?HG: ?I J8A9 EAD;: F?G C;99;5 :9AI=6I7 ?I F?G5 B;;9> \8A9 6: 6I9;5;:96I7 6: 98A9 98; <;:96CG4A5 :F:9;E 6: =;:67I;= 9? 5;:@?I= 9? 8;A= E?<;E;I9> \8A9 =? @;?@4; =? A: :??I A: 98;F :9AI= ?I :?E;986I7 98A9 J?CC4;:e #8;F D;;@ 98;65 8;A=: :9644> #8;F A5; I?9 5;A44F 95A6I6I7 9? =? J8A9 98;F 986ID 98A9 98;F A5; 95A6I6I7 9? =?> #86: 6: ?I; ?B EF BA
!" $%& '&(% ()$*%+(& $, )'--'./0 12./ )'--'./0 .3 2(.2-( '0 04'-- % $%& '&(%56 #8A9 ;I965; 95A6I6I7 @A5A=67E JA: H5;A9;= B?5 ?I; 986I7 AI= ?I; 986I7 ?I4F AI= 69 8A: C;;I H?E@4;9;4F JA5@;=> *?G =? I?9 I;;= 69> #8;5; A5; EAIF 986I7: 98A9 F?G HAI =?K AI= A: $ :A6= 6B F?G ;IV?F 69K 98;I H??4K F?G :8?G4= D;;@ 69 A: 98; =;::;59 ?B 98; @5?75AE> -?J;<;5K F?G :8?G4= 5;A46Z; 98A9 69 6: I?9 98; EA6I H?G5:; ?B 98; @5?75AE> \; JAI9 9? C; @;?@4; J8? A5; J?5D6I7 ?I J8A9 @;?@4; I;;= 6I 98;65 =A64F 46<;:>
!=% L3'.30'/%.+0K% -;,+%E
(6IA44F 98;5; 6: 98; @5?@56?H;@96<; :F:9;EK J86H8 6: @A59 ?B 98; E?<;E;I9 :F:9;E> #86: 6: J8A9 J; A5; DI?JI B?5 A9 ON-;A498> 2;9 E; A:D F?G A :6E@4; WG;:96?I> 2;9[: =? A 9;:9> &<;5FC?=F :69 I6H; AI= 9A44> *?G =? I?9 8A<; 9? :9AI= G@] F?G HAI VG:9 :69> \; A44 8A<; A I;HD> 3?E; ?B F?G 8A<; J?5D;= ?G9 E?5; 98AI $ 8A<;K :? F?G 8A<; 4;:: ?B ?I;K AI= $ @5?CAC4F 8A9; F?G B?5 69 A9 :?E; 4;<;4> $ =? I?9 8A<; 95A@:K CG9 8;5; J; 7?> \; A5; 7?6I7 9? =? A WG6HD 9;:9> #8; 8GEAI I;HD HAI E?<; 6I A CGIH8 ?B =6BB;5;I9 =65;H96?I:K :? 4;9[: =? A 9;:9 5?9A96?I B65:9> &<;5F?I; VG:9 5?9A9; c BAI9A:96H F?G A44 @A::;=> !?JK 7? CAHD 9? 98; E6==4; @?:696?I> !?J 9649 c J;44 =?I;> &<;5FC?=F AH9 46D; A H86HD;I c I?J B?5JA5= AI= CAHDK H??4> *?G A5; =?6I7 @5;99F J;44 :? BA5> -?J AC?G9 95F6I7 986: ?I; I?Je 1456789 AI= 98A9 6: AC?G9 A lj @A:: 5A9; ?I 98A9 ?I;> #8;IK HAI J; :9A59 9? H?EC6I; 98;Ee %AI F?G 9649K 746=;K AI= =? A44 98;:; =6BB;5;I9 E?<;E;I9:e %AI F?G =? 98A9 J698 ;<;5F C?=F @A59e %AI F?G E?<; F?G5 I;HDe %AI F?G E?<; F?G5 :8?G4=;5e %AI F?G E?<; F?G5 J56:9e %AI F?G E?<; F?G5 8AI=K B6I7;5:K AI= :@6I;e %AI F?G =? 69e T;HAG:; 6B F?G HAII?9 =? 98;:; CA:6H E?<;E;I9:K 98;I 7G;:: J8A9e *?G5 E?<;E;I9: A5; I?9 A: 7??= A: 98;F H?G4= C;> \8A9 $ 9;44 @;?@4; ?<;5 AI= ?<;5 A7A6I 6: 9? 46:9;I> -A: AIFC?=F 8;5; ;<;5 95A<;4;= ?<;5:;A:e 1 B;J ?B F?G 8A<;> \8;I $ :?4= EF @5AH96H; F;A5: A7?K $ E?<;= 9? $9A4F C;HAG:; $ A4JAF: JAI9;= 9? 46<; 6I $9A4F> $ E?<;= 9? (4?5;IH; J8;5; $ J;I9 6I9? @5AH96H; J698 A B56;I= VG:9 9J? =AF: A J;;D> -; JA: J?5D6I7 J698 98; $9A46AI "4FE@6H 9;AE> \; 8A= 98; \6986I 985;; =AF: ?B E?<6I7 9? $9A4FK $ JA: J?5D6I7 J698 98;:; A984;9;:> $ :@?D; I? $9A46AI> -?J;<;5K $ 8A= =?I; 98; 46994; T;5469Z 46D; C??D ?I 98; @4AI; ?<;5 9? $9A4F] $ AH9GA44F 8A= 9? 4;A5I $9A46AI ?I 98; B4F> (?59GIA9;4F $ AE @5;99F 7??= J698 4AI7GA7;: AI= $ @6HD 98;E G@ BA654F WG6HD4F> #85;; E?I98: 4A9;5K F?G H?G4= I?9 9;44 98A9 $ =6= I?9 :@;AD 7??= $9A46AI 6I 98; H46I6H C;HAG:; $ H?G4= 9A4D AC?G9 98; C?=FK E?<;E;I9K AI=
A44 ?B 98A9 :9GBB> $ JA: ;<;I 9?4= $ 8A= A I6H; (4?5;I96I; AHH;I9> #8;IK $ 8A= 9? E?<;K AI= $ AE ?I 98; @8?I; J698 A 5;A4 ;:9A9; A7;I9 :AF6I7K Q\8A9 6: 98; J?5= B?5 D69H8;IeR $ 75ACC;= EF =6H96?IA5FK 5;A46Z6I7 98A9 $ 8A= A 5;A44F :@;H6B6H
M'K%E%*+ 6$5%*/; $ 8A= A :G5<6 ,G;:: J8A9 @;?@4; 8A<; 6I 9;5E: ?B E?<;E;I9e #8;F 8A<; A :G5<6 1: A 5;:G49K ;<;5F 96E; 98A9 98;F A5; H?IB5?I9;= J698 A @5?C4;E 98A9 98;F HAII?9 :?4<;K 98;65 IA9G5A4 985;A9 5;:@?I:; EAD;: 98;E :9?@> 0?;: ;<;5F?I; GI=;5:9AI=e $9 6: 8?J J; A5; J65;=> 19 98; E?:9 CA:6H 4;<;4K B5?E 986: E?<;E;I9 @;5:@;H96<;K ON-;A498 C;76I: ?G5 @5?75AE: J698 98; WG;:96?I c HAI F?G E?<; ;<;5F V?6I9 985?G78 ;<;5F 5AI7; ?B E?96?I AI= HAI F?G H?I95?4 69e "IH; F?G 8A<; 98?:; :D644:K A44 ?B A :G==;I F?G :;; EA::6<; @;5B?5EAIH; 7A6I:> ,;I;5A44FK 98; @;?@4; 98A9 :9A59 ?G5 @5?75AE :9A59 86996I7 )+: 6I :95;I798K :@;;=K @?J;5 AB9;5 gNh J;;D:K AI= :?E;96E;: 6EE;=6A9;4F> \; 8A<; 9?I: AI= 9?I: ?B :9?56;:> \; A5; <;5F J;44 DI?JI 6I 98; 6I=G:95F B?5 6EE;=6A9; @A6I 5;46;B AI= 6EE;=6A9; @;5B?5EAIH; ;I8AIH;E;I9: c J8;5; 6: qA:?Ie -; HAE; G@ 9? E; F;:9;5=AF> -; JA4D;= G@> -; :AF:K 0?HK 8; :9A59: E?<6I7 98; :8?G4=;5 A5?GI=> $ :AJ 86E A B;J E?I98: A7? 6I %86HA7?> -; 8A= ` F;A5: ?B :8?G4=;5 @A6I> -?J;<;5K J6986I l E6IG9;: ?B =5644:K 8; 9;44: E; 98A9 86: :8?G4=;5 @A6I 6: 7?I;> $ 4?<; 98; BAH9 98A9 J; HAI 8;4@ @;?@4; WG6HD4FK CG9 $ AE 6I B?5 986: B?5 98; 4?I7 8AG4] 98; 46B;4?I7 ;=GHA96?I @5?H;::> \8A9 F?G A5; 7?6I7 9? :;; 6: 98A9 F?G HAI CG64= 95;E;I=?G: H?IB6=;IH; 6I @;?@4; CF =;E?I:95A96I7 H?E@;9;IH;K AI= I?986I7 C5;;=: H?IB6=;IH; BA:9;5 98AI 8;4@6I7 @;?@4; 9? 7;9 ?G9 ?B @A6I> 0?;: ;<;5F?I; 8;A5 98A9e 0? F?G JAI9 A JAF 9? =6BB;5;I96A9; F?G5 CG:6I;::e $ AE I?9 9;446I7 F?G 9? C; A =?H9?5] $ AE I?9 9;446I7 F?G 9? C; A 98;5A@6:9> -?J;<;5K $ AE 9;446I7 F?G 98A9 6B F?G =? 98; CA:6H: AI= GI=;5:9AI= 69K 98;I A44 ?B A :G==;IK F?G J644 C; AC4; 9? =? 986I7: 98A9 I? ?I; ;4:; HAI =? AI= =? 98;E 6I A :AB; JAF> #8;5; A5; EAIF ?98;5 =65;H96?I: 98A9 J; HAI 7? J698 A44 ?B 986: :9GBBK CG9 J8A9 $ JAI9 F?G 9? 986ID AC?G9 56789 I?J 6: 98; 6E@?59AIH; ?B 98; <6:GA4 :F:9;E> $: 69 95A6IAC4;K F;: ?5 I?e #8A9 A44 :?GI=: 75;A9 6I 98;?5FK CG9 F?G 8A<; 9? DI?J 8?J 9? =? 69>
#8; <;:96CG4A5 :F:9;E 6: 98; :AE; JAF> #8; @5?@56?H;@96<; :F:9;E 6: 98; :AE; JAF> 2;9 E; 7? ?I9? 98; I;U9 :46=; 8;5;> $ AE VG:9 7?6I7 9? 76<; F?G A WG6HD 5GI=?JI ?B A44 986: :9GBB> 1: $ :A6=K <6:6?I 6: EGH8 E?5; 98AI _aM_a> *?G 8A<; I6I; =6BB;5;I9 ;4;E;I9: 98A9 A@@4F 6I :@?59:> -?J EAIF ?B F?G J?G4= 46D; 9? C; C;99;5 A9 95A6I6I7 ?5 F?G J?G4= 46D; F?G5 95A6I;5: 9? C; C;99;5 A9 95A6I6I7e \8A9 $ AE 95F6I7 9? 9;44 F?G 6: 98A9 6B F?G C;76I 9? GI=;5:9AI= A44 986: :9GBBK 98;I F?G J644 C; 6I A @?:696?I J6986I F?G5 CG:6I;:: 98A9 J644 =;B6I696<;4F =6BB;5;I96A9; F?G>
!=% 65+53% '( +=% 60+*%,, 2*45,+3; #8; I;U9 da 9? d` F;A5:K J; A5; 7?6I7 9? :;; A 9694; :86B9 6I 98; B69I;:: 6I=G:95F> $ =? I?9 DI?J 8?J EAIF ?B F?G B?44?J 986: :9GBB @?4696HA44F> +6789 I?J F?G J?5D 6I 98; E?:9 GI5;7G4A9;= 6I=G:95F 6I 86:9?5F> $9 6: GIC;46; -?J EAIF @;5:?IA4 95A6I;5: A5; 98;5; 6I 98; fI69;= 39A9;:e #8;5; A5; A@@5?U6EA9;4F d_`Kaaa 95A6I;5:K AI= E?:9 ?B 98;E 8A<; A H;59A6I 9F@; ?B H;596B6HA96?I> \; 8A<; A 7??= B56;I= 98A9 5GI: A H;596B6HA96?I @5?75AE 6I %A46B?5I6A> #J? F;A5: A7?K 8; =6= A =?HGE;I9A5FK AI= J8A9 8; =6= 6: 8; J;I9 9? A 75A<;FA5=K AI= 8; @G44;= IAE;: ?BB 9?EC:9?I;:> #8;I 8; 7?9 98?:; @;?@4; H;596B6;=> *?G A5; 8;5; A9 A 8678N4;<;4 ;<;I9 P?5 F?G A5; 5;A=6I7 986: C??DS B?5 ;I95;@5;I;G5:K :? $ DI?J 98A9 F?G A5; I?9 ?I; ?B 98?:; @;?@4; $ DI?J 98A9 F?G A5; 6I<;:96I7 6I F?G5:;4BK AI= 98A9 F?G A5; 6I<;:96I7 6I F?G5 :D644: A44 98; 96E;> $I 98; H?E6I7 F;A5:K F?G AC:?4G9;4F 8A<; 9? C;H?E; B?HG:;= ?I 98; BAH9 98A9 VG:9 C;HAG:; 98; @;5:?IA4 95A6I6I7 6I=G:95F :;;E: ;A:FK =?;: I?9 E;AI 98A9 69 6: ;A:F N A498?G78 F?G 7;9 9? J;A5 :J;A9: 9? J?5D> #8; AE?GI9 98A9 F?G A5; H8A576I7 F?G5 H46;I9: EAD;: 986: @5?B;::6?I 5;A44F A995AH96<;K ;:@;H6A44F J8;I F?G HAI C;76I H8A576I7 AB9;5 A l =AF H;596B6HA96?I @5?H;::>
7*,53% 8'53 -5//%,, #86: 6I=G:95F 6: 7?6I7 9? :86B9 6I9? A J;44I;:: E?=;4> #8; @;?@4; 98A9 8A<; 98; 8678;:9 4;<;4 ?B ;=GHA96?I J698 98; 8678;:9 :D644 :;9:K AI= 98; @;?@4; J698 98; C;:9 HA@AH69F 9? =;E?I:95A9; 6EE;=6A9; 5;:G49: A5; 98; ?I;: J8? A5; 7?6I7 9? EAD; A44 98; E?I;F 6I 986: I;J :F:9;E> $9 6: 7?6I7 9? AH9GA44F =6<6=; BG598;5 98AI 69 ;<;5 8A: C;B?5;K AI= 69 6: A44 7?6I7 9? C; CA:;= ?BB ?B I;G5?4?7F C;HAG:; $ 7GA5AI9;; 98A9 F?G HAII?9 7;9 6I9? A B6;4= ?B E;=6H6I; AIFE?5; J8;5; I;G5?4?7F 6: I?9 98; D;F H?E@?I;I9 6I 98; B6;4=> )8F:6HA4 98;5A@F A4?I7 J698 ;<;5F986I7 ;4:; 6: :86B96I7 6I 986: =65;H96?I> 1: $ :A6=K J8A9 F?G A5; 95F6I7 9? =? 6I F?G5 CG:6I;:: 6: @G9 F?G5:;4B 6I A @?:696?I 9? =? E?5;K AI= 9? H5;A9; C;99;5 5;:G49:> \8;98;5 F?G A99;I= ON-;A498 %;596B6HA96?I H?G5:;: ?5 I?9K A9 :?E; 4;<;4K F?G I;;= 9? :9A59 6IH?5@?5A96I7 98; <6:GA4 :F:9;EK 98; <;:96CG4A5 :F:9;EK AI= 98; E?<;E;I9 :F:9;E 6I9? F?G5 @5AH96H; C;HAG:; A44 ?B 98;:; B6;4=: ?B :9G=F A5; 6E@?59AI9> 144 ?B 98;E HAI C; 95A6I;=> 144 ?B 98;E HAI C; H8AI7;=> 1: F?G 7;9 =;;@;5 6I9? 986:K F?G J644 5;A46Z; 98A9 $ AE I?9 VG:9 =;A46I7 J698 AI A984;9; 8;5;> $ AE =;A46I7 J698 ;<;5FC?=F 6I @A6IK ;<;5FC?=F J698 @;5B?5EAIH; 6::G;: AI= ;<;5FC?=F J8? 6: 4??D6I7 B?5 WG6HD 5;:G49:>
!=3%"+ 1%53'E"+30N O%E'*,+3"+0'* !?JK $ AE 7?6I7 9? 9A4D AC?G9 @5?@56?H;@96?I> $ I;;= A %?E; ?I ?<;5> \8A9 6: F?G5 IAE;e 14;UK $ JAI9 9? 98AID F?G B?5 0? F?G E6I= 9AD6I7 F?G5 :8?;: ?BBe $ =? I?9 986ID 98A9 8; 6: 7?6I7 9? I;;= 986: c 986: ?I;> -A: AIFC?=F 8;5; =?I; /1# ?5 EG:H4; AH96 \; A5; 7?6I7 9? =? A WG6HD EG:H4; 9;:9 ?I 86E> $ VG:9 JAI9 9? :;; 8?J :95?I7 8; 6:> 06= F?G J?5D ?G9 986: E?5I6I7e 14;UX Q!?>R &56HX Q,??=K 4AF ?I F?G5 CAHD B?5 E;>R *?G EAF JAI9 9? :9AI= G@ :? 98A9 F?G HAI :;;> $ JAI9 F?G 9? VG:9 7? G@ 8;5; AI= @G9 F?G5 8;A= ?<;5 98A9 JAF> \8A9 J; A5; 7?6I7 9? =? c A5; F?G H?EB?59AC4;e \; A5; 7?6I7 9? 9;:9 A H?G@4; ?B =6BB;5;I9 EG:H4;: 6I 86: C?=F C;HAG:; $ JAI9 9? 76<; F?G :?E; ;UAE@4;: ?B J8A9 J; A5; 9A4D6I7 AC?G9> 395;9H8 F?G5 4;7: ?G9 B?5 E;> #8; B65:9 9;:9 98A9 $ AE 7?6I7 9? =? 6: ?I A EG:H4; HA44;= 74G9;G: E;=6G:> $9 6: 98; 86@ EG:H4;] F?G :8?G4= EAD; :G5; 98A9 F?G5 @;4<6: :9AF: :9AC4; J8;I F?G JA4D> $B F?G 95F 9? =? AIF D6I= ?B ?<;58;A= @5;::6I7K AI= HAI[9 C;HAG:; ?B :8?G4=;5 @A6IK 98;I A 4?9 ?B 96E;: 69 6: 986: EG:H4; 98A9 6: H5;A96I7 98; @5?C4;E> *?G I;;= 9? GI=;5:9AI= D6I;96H H8A6I 98;?5F A: J;44 A: 8?J 98; 4;7: J?5D B?5 98; A5E:> \; A5; 7?6I7 9? :;; 8?J 86: 74G9;G: E;=6G: 6: J?5D6I7 :? 98; 9;:9 4??D: 46D; 986:> ,? A8;A= AI= @G:8 ?G9 9?JA5= 98;E A: 8A5= A: F?G HAIK @G:8K @G:8K @G:8> #8A9 6: AH9GA44F 5;A44F 7??=> -; 6: <;5FK <;5F :95?I7> )G:8 ?G9> !6H;> \8A9 6: 6I9;5;:96I7 6: 98A9 J8;I F?G GI=;5:9AI= I;G5?4?7FK F?G :9A59 9? GI=;5:9AI= 98; 6E@?59AIH; ?B 98; E?<;E;I9> $ A45;A=F :8?J;= F?G 986:> %AI F?G =? A44 ?B 98; =6BB;5;I9 I;HD E?<;E;I9:e TG9K HAI F?G =? 98A9 J698 F?G5 B;;9K F?G5 8AI=:K AI= F?G5 CAHDK ;9 H;9;5Ae $ AE A:D6I7 F?G 9? =? 986: C;HAG:; :?E;96E;: 98;5; 6: A @5?C4;EK :?E;J8;5;K AI=
56789 I?JK $ AE VG:9 7?6I7 9? 86: B??9K AI= $ AE 7?6I7 9? H5;A9; A @5?C4;E 6I ?5=;5 9? =;E?I:95A9; 986:> $: ;<;5F?I; ?DAF J698 98A9e \8A9 $ AE 7?6I7 9? =? 6: $ AE 7?6I7 9? 9AD; ?I; ?B 98; V?6I9: 6I 86: B??9K AI= $ AE 7?6I7 9? VAE 69> $I ?98;5 J?5=:K $ AE 7?6I7 9? H?E@5;:: 69 VG:9 46D; 98A9> #8A9 6: A44 98A9 98;5; 6: 9? 69> 06= 98A9 8G59e !?> $ AE 7?6I7 9? 5;9;:9 86E> )G:8 ?G9] @G:8 ?G9> $ J6:8 98A9 8; J?G4= 95F 8A5=;5K 98A9 J?G4= C; 7??=> #86: 6: A <;5F =6BB;5;I9 B;;46I7> 14;UX Q#8A9[: 69 EAIeR &56HX Q!?@;K I?9 J698?G9 H8A576I7 A 75;A9 =;A4>R 14;UX Q#8A9[: A E?I;F EAD;5> R &56HX Q1H9GA44FK $[E 7?6I7 9? B6U 986: C;HAG:; $ JAI9 9? :8?J F?G ?I; ?98;5 986I7> R \8A9 F?G A5; VG:9 :;;6I7 6: 98A9 V?6I9 @5?C4;E: ?5 V?6I9 6EE?C6469F AIFJ8;5; 6I 98; C?=F HAI H5;A9; EG:HG4A5 =;B6H69:> 0?;: ;<;5F?I; GI=;5:9AI= 98A9e T;HAG:; 98; EG:H4;: 5;:@?I= I;G5?4?76HA44F 9? J8A9 98; V?6I9: A5; 9;446I7 98;E 9? =?> $B J; ?@;I 986: V?6I9 CAHD G@K 98;I 8; :8?G4= C; AC4; 9? @G:8 ?G9 A7A6I c 98A9[: AH9GA44F 5;A44F 7??=> $9 :G5@56:;= E; C;HAG:; J8;I F?G B65:9 9;:9 A 4?9 ?B @;?@4;K 98;:; EG:H4;: A5; <;5F 6I86C69;=> -6: J;5; I?9K J86H8 JA: 7??=> !?JK $ AE 7?6I7 9? :8?J F?G 98; 5;A44F J;65= @A59 A: J;44 A: J8F J8;I;<;5 J; =;A4 J698 A44 986: :9GBB 98A9 J; =;A4 J698 A9 ON-;A498 J; A5; <;5F H?E@5;8;I:6<;> *?G HAI E?<; F?G5 B;;9 VG:9 46D; F?G E?<; F?G5 I;HD C;HAG:; $ HAI 76<; F?G 98; :AE; =5644: 98A9 J; VG:9 =6= B?5 98; I;HD B?5 F?G5 B;;9> #8;5; A5; :6E64A5 <;5:6?I: B?5 98; B;;9 C;HAG:; 98; B;;9 8A<; 9? C; E?C64;> !;<;598;4;::K ;<;5F V?6I9 6I 98; C?=F 8A: A @?9;I96A4 9? C; I;7A96<;> 2;9 E; :8?J F?G 986: WG6HD4F> #86: 6: 86: 98GEC> $ AE 7?6I7 9? =? 98; :AE; 986I7 9? 86: 98GEC 98A9 $ VG:9 =6= 9? 86: B??9> $ VG:9 9??D 98; 98GECK AI= $ VAEE;= 69 9?7;98;5> -; 6: 7?6I7K Q#8A9 JA: 5;A44F J;65=>R ,? AI= @G:8 ?G9 A7A6IK A7A6IK 8A5=K 8A5=K 8A5=> \8A9 =? F?G 986ID 8A@@;I;=e $ AE 7?6I7 9? EAD; 69 :6E@4; B?5 F?G> *?G HAI :9AF 98;5; B?5 VG:9 A :;HK AI= J; J644 B6U F?G 56789 G@> $ :A6= ;A546;5 98A9 98; C5A6I 6: 7?<;5I;= CF 985;A9> 0?;: ;<;5F?I; 5;E;EC;5 98A9e \8;I F?G 8A<; A 4?G:F EA@ ?B E?<;E;I9 F?G VG:9 8A<;
F?G5 :G5<6 $9 EAD;: 69 8A5=;5 B?5 F?G5 C5A6I 9? GI=;5:9AI= 98; =65;H96?I: 98A9 F?G A5; 7?6I7 9? E?<;K 8?J F?G A5; 7?6I7 9? H5;A9; @?J;5K AI= 8?J F?G A5; 7?6I7 9? H5;A9; :95;I798> #8;5; 6: A 4?9 ?B H?E@46HA9;= :9GBB 7?6I7 ?I 6I 98A9> 0?;: 98A9 EAD; :;I:; 9? F?GK 98?G78e $B F?G5 V?6I9: A5; A @5?C4;EK 98;I F?G5 <6:6?I 6: A @5?C4;E C;HAG:; F?G C;H?E; 4;:: @5;=6H9AC4; 9? F?G5:;4B> *?G C;H?E; 4;:: @5;=6H9AC4; 9? F?G5 ?JI C5A6I> $I ;::;IH;K F?G C;H?E; A 985;A9 9? F?G5:;4BK AI= F?G5 C?=F[: IA9G5A4 5;:@?I:; 9? 98A9 6: 9? E?<; 4;::K AI= 9? G:; 4;:: @?J;5> #8; C5A6I H?EEAI=: G: 9? G:; 4;:: VG6H; C;HAG:; 69 C;46;<;: 98A9 F?G EAF C5;ADK \8A9 $ 8A<; =?I; J698 86E 6: $ 8A<; A596B6H6A44F E;::;= G@ 86: E?<;E;I9 EA@> 144 ?B F?G5 H46;I9: A5; ;U@;56;IH6I7 :6E64A5 986I7: A44 ?B 98; 96E;> $B 98;F A5; I?9 7?6I7 985?G78 5;7G4A5 V?6I9 E?C6469F 95A6I6I7 AI= 5;7G4A5 <6:6?I 95A6I6I7K 98;I 98;65 C?=6;: A5; :HA56I7 98;E> 0? F?G B;;4 C;99;5e 14;UX Q*;:> R &56HX Q2;9[: 5;9;:9 986:> )G:8 ?G9 A7A6I> -; 6: CAHD 9? I?5EA4> #8AID F?GK :65> %AI J; 76<; 86E A 8AI=e 15; F?G 6I AI +r%e R 14;UX Q!? >R &56HX Q-;[: G@ c 8; JA: 76<6I7 E; :?E; 7??= @?J;5 C5;A986I7 98;5; J8;I;<;5 8; JA: 95F6I7 9? =? 98; 9;:9 98?G78>R $ 8A<; 985?JI A CGIH8 ?B :9GBB A9 F?G> $ ?I4F 8A<; A B;J E6IG9;: 4;B9> $ 8A<; 76<;I F?G A 46994; @5;<6;J ?B ?G5 B65:9 4;<;4 H?G5:; 98A9 :9A59: 9? 6I95?=GH; A44 ?B 98;:; H?IH;@9:> $ JA: ?<;5J8;4E;= CF 98; 6=;A ?B :8A56I7 986: 6IB?5EA96?I 6I VG:9 AI 8?G5 AI= A 8A4B C;HAG:; 69 I?5EA44F 9AD;: E; l =AF: VG:9 9? 6I95?=GH; EF:;4B> #8;5; 6: A 95;E;I=?G: AE?GI9 ?B 6IB?5EA96?I ?G9 98;5; 56789 I?J AC?G9 98; 8GEAI C?=F 98A9 6: I?9 C;6I7 A@@46;=> #86: 6: 95G; 5;7A5=4;:: ?B J8;98;5 F?G H?I:6=;5 F?G5:;4B AI ;I95;@5;I;G5 ?5 A CG:6I;::@;5:?I B65:9 AI= A 95A6I;5 :;H?I=>
@1 1+- -'8 ") 1+- 8&(9 ("* .&''"1 )&7- ."%4-1-'.-; A"* .&''"1 )&7- -'8*3&'.-9 &'8 ("* .&''"1 )&7."%4-1-'.-;
\; 7;9 AJAF J698 A 9?I ?B :9GBB 6I 98; B69I;:: 6I=G:95F 98A9 F?G HAII?9 7;9 AJAF J698 6I AIF ?98;5 6I=G:95F> #8;5; 6: A 75;A9 ?4= :AF6I7 6I E;=6H6I; c lKaaa F;A5: A7?K A ,5;;D @8F:6H6AI :A6=K
!7480 49( &.+4.*80 :.$ 4. (/4(*4%'/ 49( 2%4'(/4 ;9'-( /%41*( 9(%-0 49()56 #8A9 6: @5;99F EGH8 8?J B69I;:: 6: @5AH96H;=> &I9;59A6IE;I9 6: AJ;:?E; C;HAG:; 69 D;;@: @;?@4; H?E6I7 CAHDK CG9 6B F?G A5; 4??D6I7 B?5 A JAF 9? C; =6BB;5;I9K AI= F?G 8A<; 98A9 E6I=:;9 98A9 EAD;: F?G JAI9 9? C; C;99;5 98AI ;<;5F?I; ;4:; 6:K 98;I 98A9 6: J8A9 $ AE 8;5; 9? 9A4D 9? F?G AC?G9> #8; 6IB?5EA96?I 6: ?G9 98;5;> \; 8A<; :@;I9 E6446?I: ?B =?44A5: ?I ;=GHA96?I AI= 5;:;A5H8K A: J;44 A: 98?G:AI=: G@?I 98?G:AI=: ?B 5;:;A5H8 8?G5: @;5:?IA44F AI= J698 H46;I9:> \; 8A<; 8GI=5;=: ?B 95A6I;5:K AI= J; 8A<; A EA:9;5 95A6I;5 @5?75AE> \; 8A<; :;;I 98?G:AI=: ?B H46;I9: A5?GI= 98; J?54=K AI= 98?G:AI=: ?B A984;9;:> \; 8A<; :;;I ;<;5F?I; B5?E ;<;5F =AF A984;9;: G@ 9? J?54= H8AE@6?I:K AI= J8A9 6: H??4 6: 98A9 98;F A44 J?5D 98; :AE; JAF> *?G 6E@5?<; 98;65 <6:6?IK F?G 6E@5?<; 98;65 <;:96CG4A5 :F:9;EK F?G 6E@5?<; 98;65 E?<;E;I9K AI= EA76HA4 986I7: 8A@@;I> #8;65 @A6I 7;9: C;99;5> #8;F H8AI7; A: 8GEAI C;6I7:> *?G A5; @A59 ?B 986: @5?75AEK !)&K C;HAG:; F?G JAI9 9? C; C;99;5 98AI ;<;5FC?=F ;4:; 6:> *?G A5; 8A<6I7 A H?E@;9696?I 8;5; 986: J;;D;I= 9? =;9;5E6I; J8? 6: 98; 9?@ 7GF> 17A6IK $ H?G4= C; A44 9?GH8FNB;;4FK CG9 A: $ :A6=K $ H?E; B5?E 98A9 E6469A5F EA596A4 A59: CAHD75?GI=> $ :@;I9 A CGIH8 ?B 96E; J?5D6I7 J698 8678N4;<;4K ;469; E6469A5F GI69:K AI= 98; 3&12: 8A<; AI 6I9;5;:96I7 :AF6I7 J8;I;<;5 98;F A5; 6I Tf03] 98A9 6: 98;65 CA:6H 3&12 H?G5:; 98A9 98;F 8A<; 9? 7? 985?G78 9? 7;9 6I9? 98; 3&12:> 1B9;5 ;<;5F ; $9 @AF: 9? 8A<; H?IB6=;IH;>
8'53 R..'3+5*0+; +' 7N/%$ "<;5 96E;K A: F?G =;<;4?@ F?G5 CG:6I;::;:K F?G 8A<; 9? H?I96IG; 9? 4??D B?5 98?:; :D644 :;9: 9? =6BB;5;I96A9; F?G> #8A9 6: 5;A44F 98; @5?75AE 98A9 J; A5; 7?6I7 9? 9A4D AC?G9> \; 8A<; A 46994; :8;;9> 06= 98;F 7;9 @A::;= ?G9e #8;F A5; 7?6I7 9? @A:: 986: ?G9 9? F?G 56789 I?J> $ AE VG:9 7?6I7 9? 8?4= 69 G@> $9 6: AI ?5=;5 B?5E B?5 A H4A:: 98A9 J; 9;AH8 HA44;= &::;I96A4: ?B &469; );5B?5EAIH;> #86: 6: ?G5 l =AF H4A:: 98A9 J; 9;AH8 A: AI 6I95?=GH96?I 9? ?G5 :F:9;E> "I =AF d ?B 98; :F:9;EK J; =? 98; E?<;E;I9 :9GBB> \8A9 F?G VG:9 :AJ E; =? G@ 8;5; J698 86E JA: VAEE6I7 98; V?6I9K 9;:96I7 98; EG:H4;:K AI= A44 98A9 :9GBB> #86: 6: J8A9 J; =? ?I =AF d ?B 98; 95A6I6I7 @5?75AE> "I =AF _ ?B 98; 95A6I6I7 @5?75AEK J; :9A59 9A4D6I7 AC?G9 98; <6:GA4 :F:9;E A 46994; C69 E?5;K AI= J; 9A4D AC?G9 5;B4;U;:K A: J;44 A: 8?J 5;B4;U;: J?5D 6I 98; ;F;:K AI= 8?J 98;F J?5D 6I 98; 6II;5 ;A5> $I A==696?IK J; 76<; F?G :?E; E?5; A= "I =AF l ?B 98; 95A6I6I7 @5?75AEK J; =? A 4?9 ?B <6:GA4 9;:96I7> $I ?98;5 J?5=:K J8A9 J; 8A<; =?I; 6I 986: @A596HG4A5 H?G5:; 6: J; 8A<; 9AD;I ?G5 B65:9 985;; 4;<;4: ?B H;596B6HA96?IK J86H8 A5; WG69; 4?I7K AI= J; 8A<; H?I=;I:;= 98;E =?JI :? 98A9 F?G 7;9 4;<;4 ?I; H;596B6HA96?I ?I 98; B65:9 =AFK 4;<;4 9J? H;596B6HA96?I ?I 98; :;H?I= =AFK AI= 4;<;4 985;; H;596B6HA96?I ?I 98; 9865= =AF> #86: 6: A 5;A44FK 5;A44F H??4 @5?75AE> \; ?I4F =;<;4?@;= 986: AC?G9 _ F;A5: A7?> 1: A 9;AH8;5K $ AE <;5F EGH8 AC?G9 98; I;;= B?5 H?E@;9;IH;> $ =;EAI= A 4?9 B5?E 98; @;?@4; 98A9 H?E; 985?G78 ?G5 H?G5:;:> $ =;EAI= A 4?9 ?B WGA469F @A596H6@A96?I> "I; ?B 98; 6I9;5;:96I7 986I7: AC?G9 ?G5 @5?75AE: 6: 98A9 C;HAG:; $ =;EAI= 98A9 B5?E ?G5 EA:9;5 95A6I;5:K ?IH; F?G H?E; 9? ?I; ?B ?G5 H;596B6HA96?I @5?75AE:K F?G HAI H?E; CAHD B?5 B5;; B?5;<;5> $9 6: A 8?556C4; E?I;FEAD6I7 E?=;4K $ GI=;5:9AI= 98A9K CG9 A9 98; ;I= ?B 98; =AFK $ A4JAF: 9;44 @;?@4; 98A9 98; WGA469F ?B 98; @5AH9696?I;5 =?;: E?5; B?5 EF CG:6I;:: 98AI AIF986I7 ;4:;> #8; EA9;56A4 B?5 986: H?G5:; 6: H?<;5;= ?<;5 A @;56?= ?B l =AF:K AI= 98; 96E; 7?;: CF BA:9> *?G HAI :;I= F?G5 :9ABB 9? 69 C;HAG:; J; 8A<; EA=; 69 ;U95;E;4F 6I;U@;I:6<;K AI= F?G A5; 7;996I7 AI AEAZ6I7 =;A4>
$B F?G A5; 6I9;5;:9;= 6I B6I=6I7 ?G9 E?5; AC?G9 J8A9 J; =?K 98;I 98A9 6: 98; C;:9 @4AH; 9? :9A59 C;HAG:; 98; ?I; 986I7 98A9 J; J644 9;44 F?G 5;@;A9;=4F 6: 98A9 6I F?G5 CG:6I;::K F?G I;;= A EA@> $B F?G J644 5;E;EC;5K ;<;5FC?=F 5A6:;= 98;65 8AI= J8;I $ A:D;= 8?J EAIF ?B F?G J?G4= 46D; 9? C; C;99;5 95A6I;5:K ?5 A9 4;A:9 8?J EAIF ?B F?G J?G4= 46D; F?G5 95A6I;5: 9? C; C;99;5> #8;5; 6: AI 6I9;5;:96I7 986I7 98A9 $ J644 :8A5; J698 F?GK AI= $ ?I4F 8A<; d E6IG9; 4;B9> $I H?ECA96<;:K J8;I;<;5 $ 9;AH8 A H?G5:; B?5 3\1# 9;AE: ?5 J8?E;<;5K ?I; ?B 98; 986I7: 98A9 J; A4JAF: 95F 9? 9;AH8 98;E 6: A :F:9;E c AI= 98; :F:9;EK J864; 69[: CA:;= ?I 98;E 6I=6<6=GA44FK 6: 5;A44F H??4 C;HAG:; ?IH; 98;F A44 GI=;5:9AI= J8A9 ;<;5F?I; ;4:; 6: =?6I7K 98;F A4JAF: DI?J J8;I 98; ?98;5 7GF 6: 6I 95?GC4;> #8;F A4JAF: DI?J J8;I 98; ?98;5 7GF 6: 6I 95?GC4; C;HAG:; 98;F :8A5; 98; :AE; 98?G789 @5?H;::> *?G A5; A45;A=F 8;5; :9G=F6I7 :F:9;E6ZA96?I> *?G I;;= A :F:9;E ?B 95A6I6I7 98A9 6: 5;@;A9AC4; AI= 5;46AC4;> #8?:; A5; 9J? 8A44EA5D: ?B :H6;IH; A: J;44 A: 9J? 8A44EA5D: ?B 7??= CG:6I;::] 69 A4JAF: I;;=: 9? C; C?98 5;@;A9AC4; AI= 5;46AC4;> $ 8?@; 98A9 986: JA: A9 4;A:9 98?G78 @5? 19 98; <;5F E6I6EGEK 98A9 6: J8A9 $ I;;= 9? 8;A5> 1: $ 8A<; 9?4= F?GK $ AE I?9 A :A4;: @;5:?I> $ AE A H?AH8K 8AI=: =?JI> $B F?G JAI9 9? C; C;99;5K 98;I F?G JAI9 9? 8A<; 98; E?:9 HG996I7 ;=7; 6IB?5EA96?IK AI= F?G JAI9 A 46B;4?I7 ;=GHA96?IA4 @5?H;::> $ HAI 8;4@ F?G J698 98A9 C;HAG:; 98A9 6: H?E@4;9;4F J8A9 J; A5; =;=6HA9;= 9? A: A H?E@AIF> $ J?G4= 46D; 9? 98AID 3;AI AI= ;<;5F?I; ;4:; 6I !)& B?5 8A<6I7 E;> #8AID: B?5 F?G5 96E;>
I//%,,0*C +=% Q04%' "*4 I540' $B F?G J?G4= 5A98;5 AHH;:: 98; AG=6? AI= <6=;?K 7? 9?X =++.STTJJJUV=%"$+=%45/"+0'*U/'ET*%53'3%K'$5+0'*
9'*5, 2*+%3K0%J ='-& 0*''.'B +, 4)9 .'-2$&I 1> %+ 7*8 ;+<*'('&%-%$+& :+&21:%'2 %3' ,+..+T$&I $&%'*6$'T8 ?, B+1 T+1.2 *-%3'* .$(%'& %+ %3' $&%'*6$'TN %3'& %3' Q$2'+ -&2 "12$+ .$&P -<+6' $( -6-$.-<.' ,+* B+18
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
O3U )'##S J3-&P( ,+* %3' +,,'*8 ? .++P ,+*T-*2 %+ %-.P$&I %+ B+18 <="+ 0, >?@%"$+=A -%"*S [1(% %+ I$6' -& $&%*+21:%$+&N :+1.2 B+1 I$6' 1( - <*$', +6'*6$'TG C3-% $( DEF'-.%3G
O3U )'##S J3$( $( +&' +, %3' M1'(%$+&( %3-% ? I'% -.. +, %3' %$L'8 J3' ]+P' ? L-P' ]1(% T$%3 %3' 9(('&%$-.( :+1*(' $( %3-% LB '.'6-%+* (>'':3N 1&,+*%1&-%'.B $( -<+1% %3*'' 2-B( .+&I ^.-1I3(_ <':-1(' %3' (B(%'L $( >*'%%B :+L>.'ON <1% $%H( +&.B :+L>.'O 1&%$. B+1 *'-..B (%-*% %+ I'% - <-($: ,''. ,+* T3-% T'H*' 2+$&I8 Y'% L' (%-*% +,, '*,+*L-&:' (B(%'L8 C' -*' $&%'*'(%'2 $& L-O$L$\$&I -.. %3'
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`V %+ Ua B'-*(8 ?%H( *'-..B *'6+.1%$+&$\$&I 3+T T' ,$*(% +, -.. I'% >'+>.' +1% +, >-$& -( T'.. -( (%-*% %+ L-P' %3' <+2B :+L> :3-&I'(N L-P' %3'L (%*+&I'*N '% :'%'*-8 ?& 6'*B (3+*% T-BN ? %'.. >'+>.' %3-% DEF'-.%3 $( - &'1*+>3B($+.+I$: >'*,+*L-&:' %*-$&$&I (B(%'L8 J3'&N ? I+ +& %+ 'O>.-$& $% ,*+L %3'*' ^.-1I3(_8 7+'( %3-% 3'.>G
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
O3U )'##B, 9"/PC3'5*4 O3U )'##S 4+*L-..BN T3'& ? %-.P -<+1% %3$( ? %'.. >'+>.' %3-% DEF'-.%3 *'-..B <'I-& ,+* L' .$%'*-..B -( - P$28 J3' ]+P' ? L-P' $( %3-% ? T-( <+*& T$%3 %T+ $&%'*'(%( $& .$,' -&2 %3'B '6'&%1-..B '6+.6'2 $&%+ DEF'-.%38 J3+(' %T+ $&%'*'(%( T'*' ,$%&'(( -&2 ,$I3%$&I8
J3$( T$.. <' - .$%%.' <$% +, - .+&I (%+*B (+ <'-* T$%3 L'8 J3' <-($( +, %3' (%+*B $( %3$(N T3'&'6'* ? T-( <+*&N ? T-( +&' +, %3+(' P$2( %3-% B+1 3'-* -<+1% %3-% T-( <+*& T$%3 - .+% +, (%*-&I' $..&'(('( -&2 (+L' L1(:1.+(P'.'%-. <$*%3 2',':%( '% :'%'*-8 )*+<-<.B ,*+L %3-% ? %'.. >'+>.' %3-% ?HL (1*' %3'*'H( (+L' 2''> >(B:3+.+I$:-. (1*6$6-. L'-&(8 ? I+% $&6+.6'2 $& L-*%$-. -*%( T3'& ? T-( ,$6'8 ?& %3-% >*+:'((N 2'6'.+>$&I -( -& -%3.'%' '% :'%'*-N ? T-( - ,$I3%'*N >*+,'(($+&-. ,$I3%'*N -&2 ? -.(+ >.-B'2 &-%$+&-. .'6'. %'&&$(8 C3-% ? %'.. >'+>.' $( %3-% %3+(' 'O>'*$'&:'( ,+* L' +,,'*'2 - %*'L'&2+1( -L+1&% +, >-$& <':-1(' +, -.. %3' +%3'* (%1,, %3-% ? 3-2 I+$&I +& T$%3 LB <+2B8 J3+(' 'O>'*$'&:'( 2*+6' L' $&%+ (%12B$&I >3B($:-. *'3-<$.$%-%$+& 'O'*:$(' >3B($+.+IB *'-..B %*B$&I %+ ,$I1*' +1% T-B( %+ <' - <'%%'* -%3.'%'N -&2 -.(+ 3+T %+ I'% +1% +, >-$&8 C3'& ? 3$% :+..'I' -I'N ? 2':$2'2 %3-% ? T-( I+$&I %+ <' - >3B($:$-& +, (+L' P$&2N -&2 ? 2$2 LB >*'L'2 (%1,,8 "&2N <':-1(' +, LB L-*%$-. -*%( <-:PI*+1&2N ? T-( 6'*B ,$*L.B *++%'2 $& %3' $2'- %3-% %3' <+2B T-( $&%'*:+&&':%'28 ? :3+(' %+ I+ -& -.%'*&-%$6' *+1%'N -&2 ? T'&% $&%+ %3' :3$*+>*-:%$: >*+,'(($+&8 ?& %3-% >*+:'((N $% T-( 6'*B $&%'*'(%$&I8 J3'*' T'*' - .+% +, 2$,,'*'&% %3$&I( %3-% 3->>'&'2 T3$.' ? T-( $& :+..'I' 2+$&I LB $&%'*&(3$> %3-% *'-..B <*+1I3% -<+1% %3' '6+.1%$+& +, DEF'-.%38 Y'% L' 'O>.-$& M1$:P.B8 S&' +, %3' $((1'( %3-% ? T-( <+*& T$%3 T-( - I'&'%$: 2$('-(' :-..'2 =:31L'*H( 2$('-('8 A-($:-..BN T3'&'6'* B+1 ('' P$2( %3-% 3-6' %3$( >-*%$:1.-* 2$('-(' >*+:'(( I+$&I +&N '*PB>3+($(8 5'-..BN *'-..B 31&:3 <-:PN ,+*'3'-2 :-**$-I'N *+1&2'2 (3+1.2'*(N %'**$<.' >+(%1*'N -&2 %3-% 3-(N $% 3-( - .+% +, $L>-:% +& >-$& $((1'(N '% :'%'*-8 ? 3-2 %3-%8 J3-% T-( +&' +, %3' %3$&I( %3-% ? 3-2 2'6'.+>'2 +6'* %3' B'-*(8 ?% T-( ('6'*'8 ? 3-2 'O-II'*-%'2 $% +*%(N '% :'%'*-8 ? %'.. >'+>.' ,+* *'-..B %3' ,$*(% UV B'-*( +, LB .$,' +* (+N ? :-&&+% *'L'L<'* - 2-B T3'& %3'*' T-( &+ >-$&N (3+1.2'* >-$&N <-:P >-$&N &':P >-$&N (+L'%3$&I8
C3'&'6'* ? T'&% %+ :3$*+>*-:%$: :+..'I'N ? *'-.$\'2 *$I3% -T-B %3-% %3' '(%3'%$: ->>'-*-&:' +, %3$( >+(%1*' T-( &+% I+$&I %+ <' I++2 ,+* - I1B T3+ T-( (1>>+('2 %+ <' - <-:P 2+:%+*8 "( (++& -( ? I+% %+ %3' (:3++.N ? (-$2N @+1 P&+T T3-%G ?HL T$%3 %3' >+(%1*' >*+,'(($+&-.( &+T8 ?HL I+$&I %+ *'-..B I'% %3$( (%1,, (+*%'2 +1%8 ? T'&% $&%+ 6'*B $&%'&(' %3'*->B <'%T''& :3$*+>*-:%$: L-&$>1.-%$+&(N %*'L'&2+1( -L+1&% +, (+,% %$((1' <+%3 - *+.,$&I %B>' +, (+,% %$((1' T+*PN LB+,-(:$-. *'.'-(' T+*PN '% :'%'*-8 ? T-( >-*%$:$>-%$&I $& (%12$'( -% %3' %$L' -( - (1<]':%8 C' T'*' %-P$&I OE*-B( +, LB %3+*-:$: (>$&'N LB &':PN '% :'%'*-8 ? T-( 2+$&I - %*'L'&2+1( -L+1&% +, *'3-<$.$%-%$6' 'O'*:$('(8 J3$( T-( - <-($:-..B - ($O 2-B - T''P >*+I*-L ? T-( +&8 ? ,+..+T'2 $% *'.$I$+1(.B ,+* +6'* - B'-*8 J3'*' T-( &+ :3-&I' -% -.. $& LB <+2B +$&%N ? (-$2N ?HL I+$&I %+ %*B (+L'%3$&I 2$,,'*'&%8 ?&%'*'(%$&I.B '&+1I3N %T+ +, LB 2+:%+*( %3-% T'*' +6'*(''$&I LB $&%'*&(3$> 3-2 <''& %+ ;\':3+(.+6-P$- -&2 (%12$'2 T$%3 - I'&%.'L-& &-L'2 Q.-2$L$* [-&2-8 7*8 [-&2-N $, B+1 3-6' -&B <-:PI*+1&2 $& L'2$:$&' -&2 >-*%$:1.-*.B $& L'2$:$&' :+L$&I +1% +, %3' &'1*+.+IB '&2 +, %3$&I(b %3'*' -*' %3*'' 2+:%+*( ,*+L ;\':3+(.+6-P$- %3-% -*' M1$%' T'..EP&+T& -&2 :+&($2'*'2 %3' I*-&2,-%3'*( +, %3$( >*+:'((8 7*8 [-&2- T-( +&' +, %3'L8 [-&2- -% %3-% %$L' 3-2 2'6'.+>'2 T3-% 3' :-..'2 >*+>*$+:'>%$6' *'%*-$&$&I >*+%+:+.8 " .+% +, 1( T+1.2 *':+I&$\' %3-% %+2-B -( 1&(%-<.' (1*,-:' %*-$&$&I8 C+<<.' <+-*2(N T+<<.' (-&2-.(N - %+& +, >+(%1*' :+**':%$6' T+*PN '% :'%'*- <':-1(' LB $&%'*& 2+:( 3-2 <''& +6'* %3'*' -&2 %*-$&$&I T$%3 3$L ? 3-2 %3' +>>+*%1&$%B %+ <' +&' +, %3' ,$*(% >'+>.' $& %3' c= %+ I+ %3*+1I3 %3$( >*+%+:+.8 ? (>'&% -<+1% -&+%3'* &$&' L+&%3( .'-*&$&I 3+T %+ T+<<.'N (>$& %3' T+<<.' <+-*2(N -&2 L+6'N -&2 +& -&2 +& -&2 +& T$%3 2$,,'*'&% %3'*->B >*-:%$:'(8 c&,+*%1&-%'.BN -% %3' '&2 +, %3-% >*+:'((N %3'*' T-( (%$.. &+ :3-&I' -% -.. $& LB >+(%1*'N -&2 %3' >-$& .'6'.( T'*' %3' (-L'8 ?% T-( -% %3-% >+$&% %3-% %3$&I( <'I-& %+ :.$:P ,+* L' %3-% ? 3-2 %+ %*B (+L'%3$&I 2$,,'*'&% <':-1(' ? %'.. >'+>.'N ?HL -.T-B( +, %3' L$&2 %3-% $, ?HL
T+*P$&I -( 3-*2 -( ? :-& -&2 %3' >'+>.' %3-% ?HL T+*P$&I T$%3 -*' -.(+ T+*P$&I -( 3-*2 -( %3'B :-& -&2 T'H*' &+% (''$&I %3' *'(1.%(N %3'& L-B<' %3'*'H( (+L'%3$&I $&3'*'&%.B L$(($&I T$%3$& %3' (B(%'L %3-% T'H*' ->>.B$&I8 J3-% *'-..B T-( %3' I'&'($( +, DEF'-.%38 ?% .'2 L' %+ (%12B$&I - %*'L'&2+1( -L+1&% -<+1% L+6'L'&%N -<+1% >+(%1*'N -<+1% >+(%1*' :+**':%$+&N T3'%3'* %3$&I( -*' 3->>'&$&I :+&(:$+1(.B +* >*'E:+I&$%$6'.B $& %3' <*-$& $& +%3'* T+*2(b $( >+(%1*' :+&%*+..'2 $&-. :+*2 -&2 %3' <*-$& (%'L(N -.L+(% .$P' <*'-%3$&IN +* $( $% L+*' (+L'%3$&I %3-% B+1 3-6' %+ %3$&P -<+1%G ?& %3-% >*+:'((N ? <'I-& 2'6'.+>$&I -&2 'O>'*$L'&%$&I T$%3 - 6-*$'%B +, 2$,,'*'&% 'O'*:$(' >*+%+:+.(N <1% *'-..B T$%3 - 2$,,'*'&% ,+:1( %3-& ? 3-2 '6'* (''& <',+*' -&BT3'*' '.('8 J3-% 3-( ,1..B '6+.6'2 $&%+ %3$( (B(%'L %3-% T' &+T :-.. DEF'-.%38
-%"*S J3-% $( -T'(+L'8 ?%H( -& -L-\$&I (%+*BN -&2 $%H( -.T-B( ? 2+&H% P&+TN ? %3$&P T' 3-6' -.. %3'(' W T3-% T' >'*:'$6' -( +<(%-:.'( -&2 31*2.'( $& .$,' -&2 %3$&I( %3-% T' I'% >1% $& ,*+&% +, 1(8 ?% $( +&.B %3*+1I3 +6'*:+L$&I %3'L %3-% -L-\$&I I*+T%3 %3$&I( 3->>'&8 ?& B+1* :-('N DEF'-.%3 $( -*+1&2 %+2-B <':-1(' B+1H6' I+&' %3*+1I3 -.. %3' ,*1(%*-%$+&N %*$-.( -&2 %*$<1.-%$+&( %3-% B+1 3-6' $& B+1* +T& 3'-.%3 'O>'*$'&:'8
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
-%"*S "<(+.1%'.BN $% ]1(% *'$&,+*:'( %3-% %3' +&.B T-B B+1 ,-$. $( T3'& B+1 M1$%8
!=% R*$; <"; +' 6"0$ O3U )'##S @'( -<(+.1%'.B8 S&' +, LB ,-6+*$%' %3$&I( %3-% $&%'*'(%$&I.B '&+1I3 $& +1* (':+&2 .'6'. :'*%$,$:-%$+& T' %-.P - %*'L'&2+1( -L+1&%
-<+1% $( %3' >*+:'(( +, L+%$6-%$&I +* 3'.>$&I >'+>.' %+ ,$&2 L+%$6-%$+& <':-1(' ?HL (1*' %3-% B+1* L'L<'*( P&+T %3-%H( +&' +, %3' <$II'(% :3-..'&I'( %3-% T' -.. ,-:' $& %3' 3'-.%3 -&2 ,$%&'(( T+*.28 ?% $( %3$( >*+:'(( +, <'$&I - I*'-% :+-:3 -&2 3-6$&I -& -:%1-. ->>*+-:3 %+ :+-:3$&I >'+>.'8 ? 2+&H% P&+T $, B+1H*' ,-L$.$-* T$%3 %3' T+*P +, - I1B &-L'2 )*+:3-(P-8 7*8 )*+:3-(P- 2'6'.+>'2 - L+2'. :-..'2 %3' =%-I'( +, ;3-&I' R+2'.8 J3$( $( <-($:-..B - >(B:3+.+IB ->>*+-:38
-5//%,,(5$$; M"P0*C I )="*C% ?& '(('&:'N ? *'-..B .+6' $% <':-1(' %3'B 2$2 $& >(B:3+.+IB T3-% T'H6' 2+&' $& DEF'-.%3N T3$:3 $( %3'B *'6'*(' '&I$&''*'2 (1::'((,1. >'+>.'8 J3'B (-$2N B+1 P&+T T3-%G )(B:3+.+IB ,+* B'-*( -&2 B'-*( -&2 B'-*( 3-( +&.B ,+:1('2 +& .++P$&I -% >'+>.' T3+ -*' ($:P8 J3'B &''2'2 >*+,'(($+&-. 3'.> (+L'T3'*' '.(' %+ L-P' :3-&I'( $& %3'$* .$,'8 J3'(' >'+>.' ->>*+-:3'2 $% :+L>.'%'.B 2$,,'*'&%.BN -&2 %3'B (-$2N 7*"8/ 93%: - 06%15 $9 ;*$;&* <5$ /611*//96&&' 15-%4* "5*3. $<% &39* 8 J3'B 2$2 %3$( L-(($6' (%12B -&2 +6'* KaNaaa >-*%$:$>-%'28 C3-% T-( 6'*B $&%'*'(%$&I $( %3-% %3'B T'&% $&%+ %3$( >*+:'(( 'O>':%$&I %+ ,$&2 6'*B (>':$,$: :3-&I' (%*-%'I$'(N $& +%3'* T+*2( .++P -% `aNaaa >'+>.' T3+ 3-2 (1::'((,1..B .+(% T'$I3%8 J3'B T'*' %3$&P$&I %3-% '6'*B+&' T+1.2 >*+<-<.B 3-6' - ($L$.-* (%*-%'IB8 C3-% %3'B ,+1&2 T-( %3-% %3' (%*-%'IB T-( 2$,,'*'&% ,+* '6'*B ($&I.' >'*(+&N <1% T3-% T-( :+&($(%'&% T-( %3-% %3'B T'&% %3*+1I3 2$,,'*'&% (%-I'( $& %3' :3-&I' >*+:'((8 !"#$%&#'"( *+&# #+'( ,&%' #- .'&"$/' *&0 #+&# #+' 12%3'. -1' 4.'5$,#-. -6 02,,'00 1- %&##'. +-* %&1( #$%'0 (-2 72$# &15 +&5 #- .'0#&.#8 #+' 12%3'. -1' 4.'5$,#-. -6 02,,'00 *&0 4'.0$0#'1,'9
J3-%H( (+L'%3$&I %3-% T'H*' -.T-B( %*B$&I %+ (3-*' T$%3 >'+>.' -( T'..N -( T' %'-:3 %3'(' >*+:'(('( $& T3-%H( :-..'2 L+%$6-%$+&-. $&%'*6$'T$&I -&2 L+%$6-%$+&-. :+-:3$&IN $( %3-% +1* L-$& I+-. -&2 +1* L-$& ]+< T$%3 -.. +, +1* :.$'&%(N T$%3 -.. +, +1* -%3.'%'( -&2 T$%3 +1*('.6'( $( %+ :+&%$&1' %+ ,$&2
(%*-%'I$'( -&2 %':3&$M1'( %+ ]1(% P''> B+1 $&6+.6'2 $& %3' :3-&I' >*+:'((N <':-1(' $, B+1 ]1(% (%-B T$%3 $%N %3'& I++2 %3$&I( 3->>'&8
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d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b ? L+6'2 %+ ?%-.B ,+* - B'-*8 ? .$6'2 $& #.+*'&:'8 ? 3-2 - ,*$'&2 %3'*' %3-% T-( $& >*-:%$:' -&2 T-( T+*P$&I T$%3 .+% +, %3' S.BL>$: -%3.'%'( ,*+L ?%-.B8
? L+6'2 %3'*'N -&2 ? T+*P'2 - :+1>.' +, 2-B( - T''P T$%3 3$L T+*P$&I T$%3 %3' -%3.'%'(N -&2 ? (>'&% - <1&:3 +, %$L' $& J1(:-&B ^.-1I3(_N T3$:3 T-( -& -L-\$&I 'O>'*$'&:' %3-% ? *'-..B .+6'28 ",%'* - B'-*N ? 2':$2'2 %3-% ? T-( *'-2B %+ (%-*% %'-:3$&I -&2 L+6'2 <-:P %+ %3' c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aaKb T' %-1I3% +1* 6'*B ,$*(% DEF'-.%3 :+1*('8 ='6'& B'-*( .-%'*N T' 3-6' +6'* - %3+1(-&2 >'+>.' %3-% 3-6' I+&' %3*+1I3 2$,,'*'&% DEF'-.%3 :+1*('(8 C' 3-6' -<+1% daa :'*%$,$'28 C' 3-6' -& $&(%$%1%'N L1.%$>.' .'6'. :'*%$,$:-%$+&(N -&2 - L-(%'* %*-$&$&I >*+I*-L -( T'..8 C' ]1(% +>'&'2 1> -<+1% -& eNaaa (M1-*' ,++% ,-:$.$%B .-(% B'-* $& )3+'&$ON "*$\+&- <':-1(' %3-%H( T3'*' W T' 2+ T+*P T$%3 - .+% T$%3 >*+,'(($+&-. -%3.'%'( -% %3$( >+$&%N -&2 %3'B .$P' %+ %*-6'. %+ T3'*' $%H( (1&&B8 C'H*' :+&%$&1$&I %+ ('' %*'L'&2+1( I*+T%38 ? %'-:3 L+(% +, %3' :'*%$,$:-%$+& :+1*('(b ? >*+<-<.B %'-:3 fag +, %3' :'*%$,$:-%$+& :+1*('( LB('., (%$.. -% %3$( >+$&% <':-1(' ? *'-..B .+6' %+ %'-:38 ?% $( +&' +, LB ,-6+*$%' %3$&I( %+ 2+8 J3' +&.B $((1' T$%3 %3-% $( ? %*-6'. -<+1% UUa 2-B( B'-* <':-1(' T' 2+ %'-:3 -.. -*+1&2 %3' :+1&%*B8 "<+1% - B'-* -&2 - 3-., -I+N ? L+6'2 $&%'*&-%$+&-..B -( T'.. -&2 ? -L %'-:3$&I $& 91*+>' -&2 ? -L (1>>+('2 %+ <' 3'-2'2 %+ "1(%*-.$- %3$( B'-*8
-%"*S ?%H( - %*'L'&2+1( (%+*BN -&2 ? P&+T %3-% $& L-&B T-B( %3$( 3-( <''& h B'-*( $& %3' L-P$&IN <1% &+T B+1H*' (%-*%$&I %+ *'-..B 3$% ,1.. (%*$2'( T$%3
DEF'-.%38 ? 3-6' &+ 2+1<% %3-% %3+(' &1L<'*( T$.. 2+1<.' -&2 %*$>.' 6'*B M1$:P.B 3'*' -( %3' '-*.B -2->%'*( .$P' LB('.,N ?HL -.T-B( -& '-*.B -2->%'* P$&2 +, I1BN (%-*% %+ I'% %3' T+*2 +1% %+ +%3'*( -<+1% %3$( -L-\$&I >*+I*-LN *'-..B ]1(% T3-% $% 3-( %+ +,,'*N T3$:3 $( %*'L'&2+1(8 C'H*' I+$&I %+ I'% L+*' %+ %3-% $& ]1(% - (':+&28 Y'%H( %*-&($%$+& &+T -&2 W T+1.2 B+1 (3-*' +&' +, B+1* .+&IE%'*L I+-.( +, DEF'-.%3G
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`a +* `V B'-*( -<+1% &'1*+.+IB -&2 &'1*+>3B($+.+IB %3-& T' 3-6' $& -.. +, 3$(%+*B8 J3-% $( - 31I' 2'-.8
I3% 8'5 -+";0*C )533%*+A ? %'.. >'+>.' %3-% $, B+1 T-&% %+ (%-B :1**'&% $& <1($&'((N %3'& B+1 T-&% %+ L-P' - .+% +, L+&'B $& %3' &'O% `V B'-*( 2+$&I %3$&I( %3-% -*' %*'L'&2+1(.B 3'.>,1. ,+* >'+>.'8 @+1 3-6' %+ <'I$& %+ 1&2'*(%-&2 %3'$* &'1*+.+IB -&2 - %'*L %3-% $( :-..'2 &'1*+>.-(%$:$%BN T3$:3 L'-&( %3-% %3' <*-$& :+1.2 :3-&I'N -&2 $% :-& .'-*& -&2 I*+T -% -&B -I'N T3$:3 $( *'-..B 2$,,'*'&% %3+1I3% >*+:'(( %3-& %3+(' >'+>.' -*' 1('2 %+ 3-6' $& L'2$:$&'8 C' ('' +1*('.6'( -( - .+&IE%'*L I+-.N -( - (B(%'L %3-% $( I+$&I %+ 3'.> <*$2I' %3' I-> <'%T''& ,$%&'(( $& %3' 3'-.%3 :-*' $&21(%*B -&2 +6'* %$L' ('>-*-%' DEF'-.%3 +1% -( - ('>-*-%' >*+,'(($+&8 ?% $( 6'*B $&%'*'(%$&I %+ T-%:3 +1* 3$I3 .'6'. %*-$&'*( -&2 +1* L-(%'* %*-$&'*( T+*P T$%3 :.$'&%( <':-1(' $& - ($&I.' ('(($+& B+1 L-B ('' %3'L (>':$,$:-..B %'-:3$&I - .+% +, 'O'*:$(' (%1,, <':-1(' %3-%H( T3-% T' 2+N -&2 %3-%H( T3-% T'H*' P&+T& ,+*8 ?& %3-% >*+:'((N T'H*' 1($&I 'O'*:$(' %+ 3'.> >'+>.' %+ L-B<' $L>*+6' >-$&(N +* L-B<' $& %3' (-L' ('(($+& %3'BH*' T+*P$&I T$%3 -& -%3.'%' $L>*+6$&I %3'$* (>+*%( (P$..8 J3'B L-B <' $L>*+6$&I %3-% (>+*%( (P$.. .'L'&%'28 J3-% $( +&' L-]+* I+-.N -( ? (-$2b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
-%"*S "<(+.1%'.BN %3+(' -*' %*'L'&2+1( I+-.(8 ? P&+T %3-%N -% .'-(% T3-% ? 3-6' (''& (+ ,-* ? P&+T %3-% B+1 -*' T'.. +& B+1* T-B8 Y'%H( I$6' ,+.P( .$%%.' L+*' <*'-P2+T& +6'*6$'T +, DEF'-.%3 -&2 T3-% $% $&6+.6'(8 C+1.2 B+1 L$&2 'O>.-$&$&I %3' 2$,,'*'&% :'*%$,$:-%$+&( %3-% B+1 +,,'*N -&2 I$6' >'+>.' - .$%%.' <$% +, -& +6'*6$'T +, %3' 2$,,'*'&% %B>'( +, :'*%$,$:-%$+&( B+1 +,,'* -&2 3+T %3' >*+I*-L $( .-$2 +1% %+ >*+I*'(( >'+>.' %3*+1I3 -.. %3' %3$&I( %3-% %3'B &''2N %3' %++.( %3'B &''2N %+ 3'.> >'+>.' %+ I'% +1% +, >-$& -&2 $L>*+6' %3'$* .$,'8
>?@%"$+=B, )%3+0(0/"+0'* )'53,%, R+*' -<+1% DEF'-.%3 ;+1*('(
O3U )'##S =1*'8 ? T$.. %*B %+ 2+ %3$( *'-..B (1::$&:%.B8 J3' 6'*B ,$*(% :+1*(' %3-% T' *':+LL'&2 >'+>.' %+ :+L' %+ <':-1(' T' :+&($2'* $% - >*'E :'*%$,$:-%$&I :+1*(' $( :-..'2 9(('&%$-.( +, 9.$%' )'*,+*L-&:'8 ?%H( - %3*''E2-B :+1*('b +& 2-B +&' T' :+6'* L-%'*$-. ,*+L .'6'. +&' :'*%$,$:-%$+&N +& 2-B %T+ T' :+6'* L-%'*$-.( ,*+L +1* .'6'. %T+ :'*%$,$:-%$+&N -&2 +& 2-B %3*'' T' :+6'* L-%'*$-.( ,*+L +1* .'6'. %3*'' :'*%$,$:-%$+&8 ?% $( - I*'-% $&%*+21:%$+& %+ %3' (B(%'L -&2 $% *'-..B I$6'( >'+>.' -& +6'*6$'T +, DEF'-.%3 -( T'.. -( T3-% $% 3-( %+ +,,'*8 C$%3 %3-% (-$2N .'% L' 2$(:1(( +1* :'*%$,$:-%$+&(8 C' 3-6' ,+1* <-($: :'*%$,$:-%$+&(N .'6'. +&' $( :-..'2 5E)3-('b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`da 2*$..( %3-% T'
%'-:3 T$%3$& %3-% >-*%$:1.-* :+1*(' -( T'.. -( T3'& %+ ->>.B %3'L -&2 3+T %+ ->>.B %3'L8 J3' (':+&2 :+1*('N %3' (':+&2 :'*%$,$:-%$+& $( :-..'2 ?E)3-('b %3' ? (%-&2( ,+* $&%'I*-%$+&8 ?E)3-(' $( - .+% L+*' -%3.'%$: L+6'L'&% >-%%'*&(b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b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b $% L-P'( B+1 1&$M1'8 J3' (':+&2 >-*% +, %3-% :+1*(' $( - L1:3 I*'-%'* 'O>.+*-%$+& +, %3' 6$(1-. (B(%'L T3'*' T' %'-:3 B+1 <-($: %++.( ,*+L T3-%H( :-..'2 A'3-6$+*-. S>%+L'%*B8 J3$( $( (%$.. -.. T$%3$& .$:'&(1*' +, - ,$%&'(( >*+,'(($+&-. (+ %3-%H( *'-..B :++.8 ?% -..+T( B+1 %+ *'-..B .++P -% 3+T -*' >'+>.'H( 'B'( T+*P$&IG "*' %3'B ->>*+>*$-%' ,+* .$,'G "*' %3'B ->>*+>*$-%' ,+* %3'$* (>+*%G S&' +, %3' %3$&I( %3-% B+1 +,%'&%$L'( ,$&2 $( %3-% >'+>.' -*' &+% -%3.'%$:N &+% <':-1(' %3'B
:-&&+% L+6'N <1% <':-1(' %3'$* 'B'( -*' $&%'*,'*$&I T$%3 %3'$* L+6'L'&%8 "(('((L'&%( -&2 2*$..( :-& ,$O %3$&I( T$%3$& %3-% '&6$*+&L'&%8 %3
JE)3-('N T3$:3 $( +1* i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f= L+2'.b f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
C' %*B %+ <1$.2 %3-% P$&2 +, :1.%1*' $& %3' DEF'-.%3 %3-% +&:' B+1 $&$%$-%' %3' >*+:'((N T'H*' T$%3 B+1 ,+* %3' .+&IE%'*L <':-1(' T' <'.$'6' %3-% $%H( %3' +&I+$&I '21:-%$+&-. >*+:'(( %3-% I$6'( B+1 - :+L>'%$%$6' -26-&%-I' %3-% ('%( B+1 ->-*% ,*+L %3' :*+T2 %3-%H( +1% %3'*' %'-:3$&I ,$%&'(( +* %'-:3$&I +* T+*P$&I $& 3'-.%3 :-*' ,-:$.$%$'( '% :'%'*-8
-%"*S ?% (+1&2( .$P' W O3U )'##S ? 3+>' ? 2$2&H% %-P' %T+ 3+1*(8 ='-&j @'(N &+N %3-% T-( - I*'-%N ? >$:%1*' %3-%N -&2 B+1 P&+:P'2 $% +1% +, %3' >-*P8 J3-% T-( - I*'-% 2'(:*$>%$+& +, T3-% B+1 3-6' %+ +,,'* $& - :+&2'&('2 'O>.-&-%$+&8 ? T$.. ]1(% (3-*' T$%3 ,+.P( %3-% T3'& ? -%%'&2'2 %3' 9(('&%$-.( :+1*('N T3$:3 $( T3-% ? -<(+.1%'.B *':+LL'&2 %+ -.. +, +1* ,+.P(8 @+1 (3+1.2 I+ :3':P $% +1% T3'& B+1 :-& I'% %+ +&'N -&2 $, %3'*'H( +&' :+L$&I $& B+1* -*'-8 96'& $, %3'*' $( &+&'N %-P' - ,'T 2-B( +,,N ,.B +1% %+ - :+1*('N -&2 %-P' %3' %$L' %+ I+ %3*+1I3 $%8 J3' 9(('&%$-.( T-( -& -<(+.1%'.B -L-\$&I 'O>'*$'&:'8 ? (-T ('6'*-. ,+.P( %3'*' %3-% ? %-.P'2 %+ -&2 L'% +6'* %3'*' +6'* %3' K 2-B :+1*(' %3-% 3-2 <''& %+ +%3'* +, B+1* >*+I*-L(N -&2 %3'B T'*' :+L$&I <-:P -I-$&8 ?% (''L( 6'*B L1:3 %3-% B+1* 6-.1'( -*' $& '21:-%$&I -&2 T+*P$&I T$%3 B+1* L'L<'*(N -&2 %3-% $%H( - .$,'.+&I >*+:'((b $% $( 6'*B L1:3 %3' (-L' -( %3' T-B T' T+*P T$%3 +1* ,+.P(N -&2 %3' *'.-%$+&(3$> %3-% T' 3-6' T$%3 +1* :1(%+L'*(b - .+% +, %3$&I( $& -.$I&L'&% %3'*'8 J3-% ]1(% $%H( ,1& %+ ('' -&2 $%H( ,1& %+ I'% %+ P&+T '-:3 +%3'*8 Y'%H( %*-&($%$+& -&2 %-.PN T'H.. ]1(% P''> I+$&I +& 3'*'8 ? T+1.2 .$P' %+ 3-6' B+1 -22*'(( T3-% <*$&I( (+L'+&' +1% %+ - %*-$&$&I ('(($+&8 C3B 2+'( (+L'<+2B :+L' %+ - DEF'-.%3 :+1*('G
<=; I++%*4 I >?@%"$+= )'53,%A O3U )'##S ?, ?HL 6'*B 3+&'(% -<+1% %3$(N %3'& %3' +&' T+*2 %3-% ? 3-6' %+ :3++(' $( 2$((-%$(,-:%$+&8 J3-% L-B (%*$P' >'+>.' -( +22N <1% %3' *'-(+& %3-% ? (-B %3-% $( I'&'*-..B T3'& >'+>.' :+L' %+ - &'T :+1*(' +* &'T '6'&% +,
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
5'-.$(%$:-..B $, T' 3-2 %+ *','* +1% '6'*B ($&I.' :.$'&%N '6'*B ($&I.' %$L' <':-1(' %3'B T'*' $& >-$&N %3'& &+ +&' T+1.2 <' %*-$&$&I <':-1(' fVg +, >'+>.' T3'& B+1 -(P %3'LN k?( (+L'%3$&I <+%3'*$&I B+1GR J3'B T$.. I+N k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
B+1 -*' T+*P$&I T$%3 3$I3 >'*,+*L-&:' -%3.'%'(N +* ,+.P( %3-% -*' $& >-$&N +* ]1(% +*2$&-*B ,+.P( %3-% B+1 T-&% %+ 3'.> %+ I'% <'%%'* *'(1.%( ,-(%'*N -:*+(( %3' <+-*2 $& '6'*B -*'- -&2 - L'-(1*' +, 3'-.%3 -&2 ,$%&'(( -( T'.. -( .$,' $L>*+6'L'&%8 DEF'-.%3 T$.. <'&',$% B+1 -&2 <'&',$% B+1* +*I-&$\-%$+&8 @+1 3-6' - (-B$&I -<+1% %3' %+> `g8 7+ B+1 T-&% %+ L'&%$+& %3-%G
>?@%"$+=B, )="3+%3 O3U )'##S @'(8 C' 3-6' %-.P'2 - .$%%.' <$% -<+1% %3' <1($&'(( <1$.2$&I -(>':%N -&2 %3' '&%*'>*'&'1*$-. -(>':%8 ?& 2'(:*$<$&I DEF'-.%3N T3+L T' T+*P T$%3N -&2 T3-% T' (-B $( +1* >*$L-*B I+-.8 S1* :+L>-&B :3-*%'* $( %+ %*-$& %3' %+> `g $& -&B ,$'.28 R+(% >'+>.' (-BN kC'..N 7+: (3+1.2&H% %3-% <' %3' %+> `g $& %3' 3'-.%3 -&2 ,$%&'(( ,$'.2GR 5'-.$(%$:-..BN %3' -&(T'* $( &+ <':-1(' T' 3-6' 3-2 - &1L<'* +, >'+>.' I+ %3*+1I3 +1* :'*%$,$:-%$+&( T3+ *'-..B -*' &+% ,$%&'(( >*+,'(($+&-.(N <1% $&(%'-2 -*' $& +%3'* -*'&-( .$P' >(B:3+.+IB8 C' -*' &+TN $&%'*'(%$&I.B '&+1I3N I'%%$&I 3$I3E.'6'. 'O':(N L-B<' >*+]':% L-&-I'*(N '% :'%'*-8 C' 3-6' 3-2 ('6'*-. R$:*+(+,% >*+,'(($+&-.( :+L$&I $&%+ %3' :+1*(' <':-1(' %3'B 3-6' 3-2 ,*$'&2( %3-% T'&% %3*+1I3 $%8 "&2N %3'BH6' (-$2 %3-% 1&2'*(%-&2$&I 3+T 31L-& >3B($+.+IB T+*P( -( T'.. -( 3+T %3' <*-$& T+*P( 3-( L-2' %3'L %*'L'&2+1(.B L+*' ',,':%$6' '6'& $& %3'$* ,$'.2(N T3$:3 %+ L' L-P'( >'*,':% ('&(' <':-1(' *'-.$(%$:-..B '6'*B%3$&I T' 2+ $( 2*$6'& 1&2'*(%-&2$&I +, %3-%8 S1* :+L>-&B :3-*%'* $( %+ %*-$& %3' J+> `g8 C' (-B %3-% 1&->+.+I'%$:-..B <':-1(' T' <'.$'6' %3-% >'+>.' %3-% -*' $& %3' %+> `g +, %3'$* ,$'.2 -*' %3' $&21(%*B :3-&I'*(8 J3'B -*' %3' T+*.2 :3-&I'*(8 C' ,''. (%*+&I.B '&+1I3 -<+1% +1* >*+21:% -&2 +1* (B(%'L %3-% %3+(' -*' %3' >'+>.' %3-% T' T-&% %+ T+*P T$%38 S1* :+1*(' 3-( :3-&I'2 .$%'*-..B '6'*B %T+ %+ %3*'' L+&%3( <-('2 +,, $&%'*-:%$+&(N -&2 <-('2 +,, *'('-*:38 ?& '(('&:'N T3-% T'H*' 2+$&I $& %3' DEF'-.%3 :+LL1&$%B $( <1$.2$&I - 3$I3.B %-.'&%'2 L-(%'* L$&2 I*+1>N $, ? :-& :-.. $% %3-%N <':-1(' -( T' -*' -.. T+*P$&I %+I'%3'* %+T-*2( %3$( :+LL+& I+-. +, %3' 1&$,B$&I .'&( +, 3+T T'
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`g :+&:'>% $( 6'*B $L>+*%-&% %+ L' <':-1(' T3'& B+1 (1**+1&2 B+1*('., T$%3 +%3'* .$P'L$&2'2 $&2$6$21-.(N T3$:3 $( T3-% B+1 -*' >*+L+%$&I %3*+1I3 4)9N $% L-P'( - %*'L'&2+1( 2$,,'*'&:' $& B+1* :->-:$%B %+ .'-*& &1L<'* +&' %3$&I( %3-% T+*P -( T'.. -( %3$&I( %3-% 2+&H% T+*P8 41L<'* %T+ $( ]1(% %+ 3-6' %3-% 'O%'*&-. L+%$6-%$+&N $, B+1 T$..N +, <'$&I -*+1&2 >'+>.' T3+ -*' 'O:'..'&%8 J3-% $( +1* >*$L-*B I+-. $& %3-%8
-%"*S ?H2 .$P' %+ <*'-P 2+T& - .$%%.' <$% L+*' ,+* ,+.P( -<+1% %3' 9(('&%$-.( %*-$&$&I8 J3-% $( %3' >*+I*-L %3-% ? -%%'&2'2 -% )3+'&$O ,+* K 2-B(N -&2 ? ]1(% 3-2 - %*'L'&2+1( 'O>'*$'&:' I+$&I %3*+1I3 %3' :+1*('8 ?H.. (3-*' T$%3 B+1 %3-% %3$( (%1,, ?H6' (''& $% -&2 ? <'.$'6' $%8 ?, (+L'+&' 3-2 %+.2 L' -<+1% (+L' +, %3' <'&',$%( %3-% >'+>.' :-& 'O>'*$'&:' $& DEF'-.%3N ? .$(%'& <1% ? *'-..B 3-6' %+ ('' $% %+ <'.$'6' $%8 ? :-& 6+1:3 ,+* %3-% &+T8 ? T'&% %3*+1I3 (+L' 2$,,'*'&% 2*$..(8 ? 2$2 - %'(%N %3' ,.'O$<$.$%B %'(%N +* (%*'&I%3 %'(%N -&2 %3'& ? 2$2 - ,'T L+*' 2*$..(8 Y$%'*-..BN - L$&1%' .-%'*N ? I+% -&+%3'* `a %+ `V 2'I*''( *-&I' +, L+%$+& $& -
]+$&%N +* %'(%$&I -.L+(% Vag 3$I3'* +& - (%*'&I%3 %'(% $& - L$&1%' ]1(% ,*+L 2+$&I - :+1>.' +, 2*$..(8 ?%H( *'-..B T$.2N -&2 $%H( 1&<'.$'6-<.' ]1(% %+ %-.P -<+1% $%b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
!=% 7,,%*+0"$, '( 7$0+% L%3('3E"*/% R+*' -<+1% %3' 9(('&%$-.( :+1*('
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
I1'(($&IN ? I1'(( ? T$.. (-B %3$(N ? T$.. %*B %+ (-B $% $& - &$:' T-Bb $% $( &+% -& $&%'&%$+&-. 2'($*' %+ I1'((8 C3'&'6'* B+1H6' <''& %-1I3% -(('((L'&%( +6'* %3' :+1*(' +, %3' B'-*( T$%3+1% *'-..B - ,+:1( +& *'-(('((L'&%( -&2 1&2'*(%-&2$&I 3+T ,-(% %3' <+2B :3-&I'(N L+(% >'+>.' -*' (3++%$&I $& %3' 2-*PN <-('2 +,, +, <$+L':3-&$:-. :+&:'>% +* - <$+L':3-&$:-. L+2'.8 J3' %3$&I %3-% 3-( 3->>'&'2 +6'* %3' :+1*(' +, %3' .-(% `V B'-*( $( T'H6' :+L' %+ 1&2'*(%-&2 %3-% %3'*'H( - %*'L'&2+1( -L+1&% +, .$L$%-%$+& T$%3 %3' <$+L':3-&$:-. L+2'.8 Y'% L' I$6' B+1 - >'*,':% 'O-L>.'8 "<+1% - L+&%3 -I+N T' T'*' $& %3' cl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
@%;Z 2 )"* :"0,% M; I3E,Z ? (-$2N k7+ B+1 3-6' -&B%3$&I *'-..B L-]+* I+$&I +& T$%3 B+1* <+2BGm F' (-$2N k@'(N .'% L' (3+T B+18m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
:1 6&,#8 *' ;&<' +$% -1' <$02&" 5.$"" 6.-% 5&( #+.'' -6 #+' =00'1#$&"0 ,-2.0'9 >158 $1 #+' 04&,' -6 ?@ 0',-150 -6 5-$1; #+' '(' *-.A8 +' ;-# 62"" .&1;' -6 %-#$-1 3&,A $1 +$0 .$;+# 0+-2"5'.9
J3-% $( - %3$&I %3-% T' ('' '6'*B 2-B $& %3' 3'-.%3 %3-%H( :+L$&IN %3-%H( T3B T'H*' %-.P$&I -<+1% %3$&I( %3-% -*' (''L$&I.B 1&<'.$'6-<.' 1&%$. B+1H6' (''& $% - <1&:3 +, %$L'(8 ? -L (-B$&I -.. %3-% -( - *'L$&2'* ,+* 2-B +&' %3-% T' -*' %*B$&I %+ 3'.> >'+>.' I'% +1% +, %3' <$+L':3-&$:-. L$&2('%8 7-B +&' $( %3$( >-*-2$IL (3$,% ,*+L <$+L':3-&$:-. %3$&I( $&%+ &'1*+.+I$: %3$&P$&I8 S& 2-B %T+N T3$:3 $( %3' ?E)3-(' >-*% +, %3' :+1*('N T' %-.P -<+1% B+1* 'B'( -&2 B+1* $&&'* '-*8 C' %'-:3 B+1 L+*' -26-&:'2 L+6'L'&% 2*$..(N <1% *'-..BN %3$( T3+.' 2-B $( -<+1% 3'.>$&I >'+>.' %+ 1&2'*(%-&2 %3-% T3'& %3' 6$(1-. (B(%'L $( L'(('2 1>N %3' 6'(%$<1.-* (B(%'L $( L'(('2 1>N -&2 B+1* L+6'L'&% T$.. &'6'* <' -( I++2 -( $% :+1.2 <'8 @+1 T$.. %B>$:-..B -.T-B( 3-6' .$%%.' >-$& $((1'( %3-% -*' -*$($&IN '% :'%'*-8 C' %'-:3 ($L>.' -(('((L'&%( -&2 2*$..( ,+* %3' 6$(1-. (B(%'L -&2 %3' 6'(%$<1.-* (B(%'L8 S& 2-B %3*''N T3$:3 ?H6' -.*'-2B L'&%$+&'2N T' %'-:3 L+*' 6$(1-. 2*$..(N L+*' 6$(1-. -(('((L'&%(N -&2 -.(+ <'I$& %+ $&%*+21:' >'+>.' %+ %3' <-($:( +, (>+*%( -&2 -%3.'%$: %*-$&$&I8 S&' +, %3' %3$&I( %3-% ? -.T-B( ,$&2 ,-(:$&-%$&I +& 2-B %3*'' $( %3-% ? 3-6' '6'*B<+2B $& %3' :+1*(' -&2 >*+<-<.B ? T$.. (-BN k5-$(' B+1* 3-&2 $, B+1H*' -& -%3.'%'8m C' 1(1-..B 3-6' -<+1% - fag *-%' T3'*' >'+>.' *-$(' %3'$* 3-&2( -&2 %3'B (-$2 B'(N ? >.-B %'&&$(N +* (+::'*N +* ,++%<-..N +* T3-%'6'*8 ? -(P - ($L>.' M1'(%$+&N kF+T L-&B +, B+1 >.-B'2 $% %3*+1I3 :+..'I'Gm 4+*L-..BN -<+1% Kag T$.. (%$.. 3-6' %3'$* 3-&2( 1>8 ?HL (%-*%$&I %+ $2'&%$,B %3' '.$%' -%3.'%'( $, B+1 T$.. +* >'+>.' T3+ 3-6' >.-B'2 -% - 3$I3'* .'6'.8 ? -(P - ($L>.' M1'(%$+&N kF+T L-&B +, B+1 $& -.. +, B+1* (>+*%( %*-$&$&I T'*' '6'* %-1I3% 3+T %+ (>*$&%G F+T L-&B +, B+1 T'*' %-1I3% 3+T %+ :1%Gm c(1-..BN +&' >'*(+& -% L+(% T$.. 3-6' %3'$* 3-&2 1>8
? -.T-B( >+$&% %3-% +1% -( - I*'-% 'O-L>.' +, %3' L$(%-P'( %3-% T' %'&2 %+ L-P'N >'+>.' $& %3' 3'-.%3 -&2 ,$%&'(( $&21(%*BN >-*%$:1.-*.B %3' (%*'&I%3 -&2 :+&2$%$+&$&I $&21(%*B I+N '6'*B<+2B ]1(% &''2( %+ I'% (%*+&I'* -&2 ? (-BN k4+ B+1 &''2 %+ I'% <'%%'*8m 7-B K $( *'-..B -<+1% 3'.>$&I >'+>.' %+ .'-*& %3' <-($:( +, -%3.'%$:$(L8 ?% $( -L-\$&I8 ? .+6' 2-B K <':-1(' ? ('' %3' .$I3% <1.<( :+L' +& (+ +,%'& ,+* ,$%&'(( >*+,'(($+&-.( T3+ <'I$& %+ *'-.$\' %3-% %3'*' -*' (+ L-&B 2$,,'*'&% T-B( %3-% %3'B :-& T+*P T$%3 %3'$* :.$'&%( 2-BE%+E2-B $& -& 'O:$%$&IN $&%'*'(%$&I T-B %3-%H( -<+1% (P$.. <1$.2$&IN -&2 *'-..B 3'.>$&I >'+>.' %+ <1$.2 - L+*' -%3.'%$: <+2B L-> -( T'.. -( - L+*' -%3.'%$: >$:%1*' +, %3'L('.6'(8 J3-%H(N ? .$P' %+ (-B %3-% 2-B K $( -.T-B( 6'*B 'O:$%$&I ,+* L' -( T'..8 J3-% $( %3' %3*''E2-B :+1*(' $& - &1%(3'..8 ?% $( - 6'*B ,-(% :+1*('N 6'*B ,-(% >-:'28 J3' 2-B( I+ *'-..B M1$:P.B8 R+(% +, %3' :+1*('( -*' -<+1% 3-., .':%1*'N 3-., L+6'L'&%8 "&2N -( ? (-$2W T3-% ? *'-..B '&]+B -<+1% %3' :+1*(' $( %3' >'+>.' %3-% -%%'&2 $% 3-6' 2+&' %*'L'&2+1(.B T'.. $& +1* :'*%$,$:-%$+& >*+I*-L(8 F'.>$&I %3'L %+ I'% %3-% '-*.B 6$($+& +, %3' DEF'-.%3 (B(%'L -( - T3+.' (''L( %+ L-P' %3' T3+.' 2$,,'*'&:' ,+* %3'$* :->-:$%B %+ ->>.B $% 2-BE%+E2-B8
-%"*S J3-%H( - I*'-% +6'*6$'T +, %3' 9(('&%$-.( >*+I*-LN -&2 ?HL I.-2 %3-% B+1 (3-*'2 %3' (%+*B +, %3' I'&%.'L-& ,*+L %3' clN T3$:3 $( %3' +&' %3-% B+1 (3-*'2 21*$&I %3' T''P T3'& ? T-( >*'('&%8 ?% -:%1-..B L-2' L' %3$&P -<+1% 3'*' $( - I1B ('6'& B'-*(N &+ *-&I' +, L+%$+&N -&2 %3' 2+:%+*( -*' -.. %'..$&I 3$L %3-% 3'H( I+% %+ 3-6' (1*I'*B <1% 3' -6+$2( $% <':-1(' 3' $( -& 'O'*:$(' >3B($+.+I$(% -&2 3' 2+'(&H% T-&% %+ (1::1L< %+ %3-%8 C$%3$& - ,'T 2*$..( $& - :+1>.' +, 2-B( 3'H( I+% `aag *-&I' +, L+%$+& <-:PN T3$:3 ? :-& +&.B $L-I$&' T3-% %3-% L1(% 3-6' ,'.% .$P'8 ?, B+1 :-&H% L+6' B+1* -*L ,+* ('6'& B'-*(N -&2 %3'& -.. +, - (122'& B+1 I+% %3' %3$&I <-:P `aagN $%H( -<(+.1%'.B -L-\$&I8 "( B+1 (-$2N %3+(' (%+*$'( -*' 6'*BN 6'*B :+LL+& T$%3 DEF'-.%3 (%12'&%(8 ? -L T+&2'*$&I $, B+1 :+1.2 ]1(% (3-*' - :+1>.' L+*' :.$'&% (1::'(( (%+*$'( .$P' %3-%N %3-% B+1 3-6' (''& +* 'O>'*$'&:'2 3-6$&I I+&' %3*+1I3 %3' %*-$&$&I8
-'E% )''$ :%,5$+, O3U )'##S ?H.. I$6' B+1N T' 3-6'N -&2 -I-$& %3$( $( &+% %+ (-B %3-% ?HL +6'*.B 1> +& %3' DEF'-.%3 (B(%'L <':-1(' ? .+6' $% -( LB (B(%'L8 ? -L (%$.. ,-(:$&-%'2 .' +, +&'( %3-% (%$.. (%$:P $& LB 3'-2 ($L>.B <':-1(' %3'B T'*' (+ :++.8 "<+1% %T+ B'-*( -I+ +&' +, +1* %*-$&'*(N T' T'*' %'-:3$&I $& (+1%3'*&N (+**B $& &+*%3'*& ;-.$,+*&$-8 F' -(P'2 L' %+ .++P -% %3' 31(<-&2 +, +&' +, 3$( :.$'&%(8 ? (-$2N kF'BN T3-%H( I+$&I +&Gm J3'B ('% 1> %3$( ->>+$&%L'&%8 ?% T-( ,1&&B %+ L' <':-1(' $% T-( .$P' '6'*B +%3'* %$L' %3-% B+1 3-6' '6'* 3-2 -&B+&' :+L' %+ B+1 6'*B <'I*12I$&I.B8 ?% $( %3' T$,' 2*-II$&I %3' 31(<-&2N -&2 ? :+1.2 %'.. %3-% 3' 2$2 &+% T-&% %+ <' %3'*'8 ? (-% 2+T& T$%3 %3'LN -&2 *$I3% -T-BN ? %*$'2 %+ <1$.2 (+L' *->>+*%8 ? (-$2N kJ'.. L' B+1* (%+*B8m F$( (%+*B T-( *'-..B 3+**$,$:8 #+* &+ *'-(+& %3-% %3'B P&'T +,N 3' 3-2 2'6'.+>'2 <$.-%'*-. ,*+\'& (3+1.2'*8 J3$( T-( -.L+(% h B'-*( +.2 -% %3$( >+$&%8 F' 3-2 L-B<' Ka 2'I*''( +, ,.'O$+& +& %3' *$I3% -*LN -&2 L-B<' ia +* Va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
%3' :*-\B :++. >-*%8 C-%:3$&I 3$L T-.P 3' 3-2 *'-..B <-2 ,''%N 6'*BN 6'*B >++* L+<$.$%B $& 3$( ,''%N -&2 6'*B >++* ]+$&% ,1&:%$+&8 R+(% >'+>.'N T3'& %3'B ('' <-2 ,''%N %3'B %3$&P %3-% %3'B &''2 (3+'( +* >*+21:%(8 C' -*' :+L>.'%'.B 2$,,'*'&%8 C' (-B %3-% T3'& B+1 3-6' <-2 ,''%N B+1 &''2 %+ 3-6' <'%%'* ,''%8 C' &''2 %+ $L>*+6' L+<$.$%Bb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b 3' T-( (&+T<+-*2'*N 3' 3-2 - <-2 ,-..N -&2 3' 3-2 &+% *'-..B <''& *$2$&I %3' (-L' ,+* +6'* - B'-*8 F' ]1(% ,'.% .$P' 3$( :+*' 2$2 &+% :+&%*-:% T'..N %3-% 3$( -<2+L$&-.( T'*' &+% %1*&$&I +&N -&2 %3-% 3$( L1(:1.-%1*' T-( &+% *$I3%8 4+%3$&I ,'.% :++*2$&-%'28 ? 3-2 %T+ ('(($+&( T$%3 %3$( >-*%$:1.-* -%3.'%'b +& %3' ,$*(% ('(($+&N <':-1(' %3'B 3-2 (+L' 3'-2 %*-1L-N $& >$':'(N T' %'-:3 3+T %+ '6-.1-%' %3' 3'-2 -&2 &':PN -&2 %3' :*-&$-. (B(%'LN '% :'%'*-8
C' 2$2 (+L' 6$(1-. 2*$..(N T' 2$2 (+L' :*-&$-. L+<$.$\-%$+&N -( T'.. -( (+L' (%1,, T$%3 %3' ,''%N -&2 T' 2$2 %3' (-L' %3$&I %3' (':+&2 ('(($+&8 J3$( -%3.'%' T'&% <-:P %+ %*-$&$&IN $& >*'>-*-%$+& ,+* %3' S.BL>$:(N -&2 $& %3' (>-:' +, +&' T''P %3' :+-:3'( :-L' <-:P -&2 (-$2N k? 3-6' &+ $2'- T3-% B+1H6' ]1(% 2+&' <1% B+1H*' *$2$&I <'%%'* %3-& T'H6' '6'* (''& B+1 *$2'8m J3-% T-( -,%'* - B'-* +, (%*1II.$&I8 J3+(' -*' %T+ 'O-L>.'( +, - 3'-2 >*+<.'L ,$O$&I :++*2$&-%$+&N -& -<2+L$&-. :++*2$&-%$+& $((1'N - ,++% >*+<.'LN -&2 (3+1.2'* >*+<.'L(8 J3' 2*$..( ,$O (3+1.2'* >*+<.'L(8 ?% $( :+LL+&>.-:'8 J3' *'-(+& %3-% ? <*$&I %3'L +1% $( %3-% ? %3$&P >'+>.' ,$&2 %3'L 6'*B $&%*$I1$&I T3'& B+1 %-.P -<+1%N T3'& B+1 3'-* (%1,, .$P' %3-% <':-1(' $% *'(+&-%'( +& - 6'*B 2''> .'6'. T$%3 >'+>.' %3-% %3' <+2B $( L+*' $&%'I*-%'2 -&2 $&%'*:+&&':%'2 %3-& L+(% >'+>.' <'.$'6'8 J3-% *'(+&-%'( T$%3 1( $&%1$%$6'.B8 C3-% DEF'-.%3 +,,'*( $( - *-%$+&-.'N -& -:%1-. >3B($+.+I$:N &'1*+.+I$: *-%$+&-.' ,+* T3B %3' ,++% L$I3% -,,':% %3' (3+1.2'*(N T3B %3' (P1.. L$I3% -,,':% %3' -<(8 S& %+> +, %3-% *-%$+&-.'N T' I$6' B+1 -(('((L'&%( -&2 2*$..( %+ ,$I1*' +1% 'O-:%.B T3-% &''2( %+ 3->>'& $& +*2'* %+ 3'.> B+1* :.$'&%( (1::''28 ? :+1.2 I+ +& -&2 +& T$%3 2$,,'*'&% (%+*$'( -<+1% 'B'( :3-&I$&I L+6'L'&%N -<+1% $&&'* '-* T+*P :3-&I$&I L+6'L'&%N <1% 3+>',1..B %3+(' -*' - :+1>.' +, &'-% 'O-L>.'(8 ?, B+1 T-&% L+*'N %3'& B+1 :-& -.T-B( :-.. -&2 %-.P %+ 1(8 J3'*' $( >.'&%B8
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aa L$.'( >'* 3+1*8
O3U )'##S Kaa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
!=0, 0, ,'E%+=0*C +="+ ;'5 *%%4 +' $%"3* E'3% "#'5+ "*4 0*+%C3"+% 0*+' ;'53 .3"/+0/%U C$%3 %3-% <'$&I (-$2N ? T+1.2 .$P' %+ ]1(% T*-> %3$( 1> 3'*' -&2 I$6' (+L' ,+.P( $&,+*L-%$+& +& 3+T %+ ,$&2 +1% L+*' -<+1% DEF'-.%3 -&2 -<+1% 3+T %+ ,$&2 $&,+*L-%$+& -<+1% -& 1>:+L$&I '(('&%$-.( :+1*(' %3-% L-B <' :+L$&I $& %3'$* -*'- +* +&' %3-% %3'B :+1.2 I'% %+8 ;+1.2 B+1 I$6' ,+.P( %3' 2'%-$.( +& 3+T %+ I'% %3-% $&,+*L-%$+&G
O3U )'##S @'(N -<(+.1%'.B8 J3' '-($'(% T-B %+ ,$&2 +1% L+*' -<+1% 1(N T$%3+1% %-.P$&I %+ - .+% +, 31L-& <'$&I(N $( %+ I+ %+ +1* T'<($%' %3-%H( \3'-.%38&'%8 J3'*' $( &+ 3B>3'& +* -&B%3$&Ib $% $( ]1(% \3'-.%38&'%8 S& %3-% T'<($%'N B+1 T$.. ,$&2 -.. +, +1* :+1*('( .$(%'2 -&2 +1* :-.'&2-*N -( T'.. -( 2'(:*$>%$+&( +, +1* :'*%$,$:-%$+&( -&2 +1* >*+21:%(N '% :'%'*-8 #*+L %3'*'N T' -.(+ *'-..B 1*I' B+1 %+ :-.. +1* +,,$:'8 C' .+6' %+ %-.P %+ >'+>.' $& >'*(+&8 J3$&I( 3-6' <':+L' 6'*B 2'>'*(+&-.$\'28 C' T-&% %+ -&(T'* B+1* M1'(%$+&(8 S1* %+.. ,*'' &1L<'* $( eeeEKfiEi`fe8 @+1 :-& :-.. -&2 (>'-P %+ -&B +, +1* (%-,,8 #$&-..BN $, B+1 T-&% %+ 'L-$. 1(N %3'& B+1 :-& 'L-$. 1( -% 6IB?YZ8;A498>I;9 -&2 T' T$.. I'% *$I3% <-:P %+ B+1 %+ -&(T'* B+1* M1'(%$+&(8
