!"#$"%$&'($)*$#) ,&- ./,&)%,*$"&
R%S@- TU%!OGV
!"#" %"&'( )*+,'
-./ 0/1/2'3&/+, '4 -#"+(2",*'+ !,50*/( 6-!7 "( " 0*(8*32*+/ ."(9 ", ,*&/(9 ://+ &"#;/0 :< "+ 6"2#/"0<
32/+,*4522<
0*"=+'(/07
,/+(*'+
:/,>//+ 2*+=5*(,*8 "+0 852,5#"2
"33#'"8./( ,'
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
61 !"#$"%$&'($)*$#) ,&- */,&)%,*$"& -./ ",,/+,*'+ =*1/+ ,' !'8*'2*+=5*(,*8( :< ,#"+(2",*'+ (8.'2"#( +//0( ,' :/ 8'+(*0/#/0 >*,.*+ ,./ :#'"0/# 8'+,/B, '4 >.", 8"&/ ,' :/ 8"22/0 ,./ `W52,5#"2 -5#+a :< _"((+/,, \ Q/4b1/#/ *+ ,./ 4"&'5( *+,#'058,*'+ ,' 5!'&+('-$%&6 7$+-%!. '&* 3/(-/!" 6CDDF7 6(// -./ ,5#+( '4 -#"+(2",*'+ !,50*/(7? P*,. ,./ &'1/ ,'>"#0( ,#"+(2",*'+ "( " ('8*"2 3#"8,*8/ 8'+0*,*'+/0 :< ('8*"2 8'+4*=5#",*'+(9 ,./#/ >"( " 82/"# :#/"; >*,. 4'#&"2 2*+=5*(,*8( 6"+0 4'#&"2*(, 2*+=5*(,*8 "33#'"8./( ,' ,#"+(2",*'+79 :#*+=*+= -! 82'(/# ,' " :#"+8. '4 2*+=5*(,*8( ,.", ."0 3*'+//#/0 " (*&*2"# &'1/ >*,.*+ Q*+=5*(,*8(? @'# "5,.'#( (58. "( V*0"9 ,./ :'+0 :/,>//+ ,./(/ ,>' 0*(8*32*+/( *( *+0//0 `" 1/#< +",5#"2 '+/9 (*+8/ ('8*'2*+=5*(,( 0/"2 3#*&"#*2< >*,. 2"+=5"=/ "( *, *( 5(/0 :< ('8*/,< *+ 8'&&5+*8",*+=a "+0 ,.", ,./ `0*44/#/+, >"<( *+ >.*8. ('8*/,*/( /&32'< 2"+=5"=/ *+ *+,/#3/#('+"2 #/2",*'+( "#/ 8#58*"2 4'# "+<'+/ 8'+8/#+/0 >*,. ,#"+(2",*+=a 6CDDKY Kc7? !*+8/ V*0"9 &"+< ,#"+(2",*'+ (8.'2"#( ."1/ :5*2, '+ ('8*'2*+=5*(,*8 8'+8/3,( ,' /B"&*+/ ,#"+(2",*'+ "+0 ,./ 8'+,/B,5"2 /2/&/+,( 8'+0*,*'+*+= *,? -./ 3'*+,( '4 8'+,"8, :/,>//+ ,./ ,>' 0*(8*32*+/( ."1/ *+ 4"8, &52,*32*/0 >*,. ,./ =#'>,. '4 -! "( " 0*(8*32*+/ "+0 ,./ 0*1/#(*4*8",*'+ '4 *,( "#/"( '4 (,50 2''; &'#/ 82'(/2< ", ,./ 3'*+,( >./#/ ,./ 3",.( '4 ,./(/ ,>' 0*(8*32*+/( 8#'((?
!"#" %&'()*'+,-( '(. .,'*/0+-*-12 -./ 0"<( "#/ +'> ='+/ >./+ &'(, "#,*82/( 4'85(*+= '+ ,./ ,#"+(2",*'+ '4 "+< 4'#& '4 2*+=5*(,*8 1"#*",*'+ >'520 (,"#, :< 3#'82"*&*+= ,./ *&3'((*:*2*,< '4 ,#"+(2",*+= 852,5#/I(3/8*4*8 /2/&/+,(?
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d79 ."1/ ://+ >'#;*+= ,'>"#0( " &'0/2 8"3":2/ '4 "88/((*+= ,./ 1"#*/,*/(e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
!"!" 3/1,)+/& '('*2),) '(. +&'()*'+,-( Q*;/ 0*"2/8,'2'=<9 #/=*(,/# "+"2<(*( ."( +', '+2< 4"8*2*,",/0 "+ 5+0/#(,"+0*+= '4 8'+,/B, *+ 4*8,*'+ 6/+":2*+= " &'#/ "885#",/ 8."#"8,/#*(",*'+ '4 ,./ (*,5",*'+ *+ >.*8. 8."#"8,/#(e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f (// W.*20#/+^( 2*,/#",5#/ "+0 ,#"+(2",*'+7 '# &'0/ 60*(85#(*1/ 0*44/#/+8/( :/,>//+ (3//8. "+0 >#*,*+=7? -.*( 2"(, "(3/8, *( 3"#,*852"#2< #/2/1"+, *+(5:,*,2*+= 6>./#/ ,./ (3';/+ ('5#8/ ,/B, "33/"#( (*&52,"+/'5(2< >*,. ,./ >#*,,/+ ,"#=/, ,/B,7 "+0 ,./",#/ ,#"+(2",*'+ 6>./#/ :',. ,./ ('5#8/ "+0 ,"#=/, ,/B,( "#/ >#*,,/+ ,' :/ (3';/+f (// R#"&" ,#"+(2",*'+7? N"22*0"<^( &'0/2 ."( :/8'&/ '+/ '4 ,./ &'(, 3'352"# "&'+= -#"+(2",*'+ !,50*/( (8.'2"#(9 "+0 &52,*32/ "#,*82/( 8'520 :/ 8*,/0 *+ ,.*( #/(3/8,? N'>/1/#9 ,>' 3*'+//#*+= 35:2*8",*'+( :< _"(*2 N",*& "+0 O"+ J"('+ [ 8$+,%/!+" '&* -0" 5!'&+('-%! 6CDDF7 "+0 50" 5!'&+('-%! '+ 3%11/&$,'-%! 6CDDX7 [ 0/(/#1/ (3/8*"2 &/+,*'+? N"22*0"<^( ,/B,5"2 45+8,*'+ ."( ",,#"8,/0 ,./ ",,/+,*'+ '4 (8.'2"#( (58. "(N'5(/ 6CDDX79 :5, N",*& "+0 J"('+ 4'85( ,./*# "+"2<(*( '+ ,./
*0/",*'+"2 "+0 *+,/#3/#('+"2 45+8,*'+(9 "00*+= " (/&*',*8 2/1/2 '4 0*(8'5#(/? -./(/ "5,.'#( 82"*& ,.", " &52,*32/I2""< ,#"0*,*'+ "+0 3'>/# #/2",*'+( "#/ +/=',*",/09 8."22/+=/0 '# 3/#3/,#",/0 *+ ,#"+(2",*'+? J'#/ #/8/+,2<9 #/=*(,/# ."( 0/(/#1/0 ",,/+,*'+ :< (8.'2"#( (58. "( J"#8' 6KFFC79 >'#;*+= >*,. 2*,/#"#< "+"2<(*(9 )/,,*, 6KFFc7 >'#;*+= '+ "50*'1*(5"2 ,#"+(2",*'+ '#J"#&;H"/# 6KFFc7 '+ " :#'"0/# 3/#(3/8,*1/ '+ ,#"+(2",*'+?
!"4" 5'(16'1/ 07'(1/ '(. +&'()*'+,-( S+',./# "#/" '4 !'8*'2*+=5*(,*8( ,.", ."( *+425/+8/0 -#"+(2",*'+ !,50*/( *( ,./ "#/" '4 2"+=5"=/ 8."+=/? -.*( *( " =#'>*+= "#/" '4 #/(/"#8. +', '+2< :/8"5(/ ,#"+(2",*'+ 8"+ :/ " 3#'&',*+= "=/+, 4'# 2"+=5"=/ 8."+=/ 6g#"+*8. /, "2? KFCC79 :5, "2(' :/8"5(/ ,./ +",5#"2 8."+=/( *+ " 2"+=5"=/ 8"+ 3#'&',/ ,#"+(2",*'+ "8,*1*, ,#"+(2",*'+( '4 >'#;( ,.", ."1/ 3#/1*'5(2< ://+ ,#"+(2",/0 *+,' " 3"#,*852"# 2"+=5"=/? -.*( *( "+ *&3'#,"+, 4"8, ,' 8'+(*0/# >*,.*+ -#"+(2",*'+ !,50*/( "( ,./ +//0 ,' 530",/ '# &'0/#+*h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
!"8" 5'(16'1/ 0-(+'0+9 :6*+,*,(16'*,): '(. +&'()*'+,-( -";*+= " &'#/ (<+8.#'+*8 1*/> '4 2"+=5"=/ 8."+=/ ,.#'5=. ,#"+(2",*'+9 ('&/ -! (8.'2"#( ."1/ ,5#+/0 ,./*# ",,/+,*'+ ,' "(3/8,( '4 2"+=5"=/ 8'+,"8,9 "( 8'+4*#&/0 :< ,./ (3/8*"2 *((5/ '4 5'!#"- 0/1',/0 ,' 7"-"!%($&#/'($+1 $&9'&* 5!'&+('-$%& CEYC 6KFFL9 /0? %/*+/ J/<2"/#,(7? S( J/<2"/#,( /B32"*+( *+ ./# *+,#'058,*'+9 `ijk ,./ *((5/( '4 2*+=5*(,*8 0*1/#(*,< "+0 &52,*2*+=5"2*(& "#/ *+./#/+,2< ,*/0 ,' ,#"+(2",*'+? -./ A5/(,*'+ '4 >.*8. 2"+=5"=/6(7 8"+]8"++',]&5(, :/ 5(/0 +/8/(("#*2< *&32*/(Y >.*8. '+/6(7 8"+]8"++',]&5(, :/ ,#"+(2",/0 4#'& '# *+,'9 :< >.'&9 *+ >.", >"<9 *+ >.*8. =/'I,/&3'#"29 *+(,*,5,*'+"2 4#"&/>'#;9 /,8? -.*( *( >.< ,#"+(2",*'+ (//&( ./"1*2< *+(,*,5,*'+"2*(/0 *+ &52,*2*+=5"2 ('8*/,*/(a 6KFFLY K7 J52,*2*+=5"2*(& ."( ,#"0*,*'+"22< ://+ 8'+(*0/#/0 '+/ '4 ,./ *+(5#&'5+,":2/ `,#"+(2",*'+ 3#':2/&(a? N'>/1/#9 #/8/+,2<9 4#//0 4#'& ,./ ,"= '4 ,./ `5+,#"+(2",":2/a9 *, ."( ://+ 3/#8/*1/0 *+ " +/> 2*=., "+0 4'5+0 ,' (.";/ ,./ 4'5+0",*'+( '4 ,./ `,#"0*,*'+"2 0*8.','&< '4 ('5#8/ ,/B, 1( ,"#=/, ,/B,9 "( >/22 "( &"+< ',./# (,#58,5#"2 +',*'+( (58. "( 4*0/2*,< "+0 /A5*1"2/+8/a 6!58./, KFFEY CcC7 6(// J52,*2*+=5"2*(& "+0 ,#"+(2",*'+7?
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
;353/3) S"2,'+/+9 !*#;;5? KFFZ? `%/,#"+(2",*'+ *+ ,./ @*++*(. ,./",#/?a O+ 5!'*/:;%6 !"-!'*/:;% " '*'2-':;%9 l'.+ J*2,'+ \ J"#*/ Nb2b+/ W",./#*+/ 6/0(7? !3/8*"2 *((5/ '4 3'*"!&%+ *" 5!'*/:;% C 6CC7Y CdF[CcD? _#*((/,9 S++*/? CDDL? < 4%,$%,!$-$=/" %> 5!'&+('-$%&? 50"'-!" '&* <(-"!$-. $& @/"A",6 BCDEFBCEE? -'#'+,'Y m+*1/#(*,< '4 -'#'+,' )#/((? i-#"+(2",/0 :< %'("2*+0 n*22 \ %'=/# n"++'+k? _#'>+2*/9 !*':."+? KFFL? `V"##",*1/ ,./'#< "+0 #/,#"+(2",*'+ ,./'# o'#;Y _2"8;>/22? W'52&"(9 @? CDDX? 50" 7'&*A%%H %> 4%,$%($&#/$+-$,+? GB4'#0Y _2"8;>/22? N"22*0"<9 J*8."/2 \ N"("+9 %5A"*<"? CDDC? G'&#/'#"6 3%&-"I-6 '&* 5"I-? <+2",-+ %> G'&#/'#" $& ' 4%,$'(J+"1$%-$, K"!+2",-$L"? GB4'#0Y GB4'#0 m+*1/#(*,< )#/((?
N'5(/9 l52*"+/? CDDX? 5!'&+('-$%& @/'($-. <++"++1"&-? < M%*"( N"L$+$-"* ? -5:*+=/+Y V"##? g#"+*8.9 !1/+H*"9 _/8./#9 T*;,'#9 Np0/#9 !,/44/+ \ N'5(/9 l52*"+/? KFCC? M/(-$($&#/'( 8$+,%/!+" K!%*/,-$%&? 8$',0!%&$, '&* 4.&,0!%&$, K"!+2",-$L"+? S&(,/#0"&]).*2"0/23.*"Y l'.+ _/+H"&*+(? Q/33*."2&/9 %*,1"? KFFF? `-./ ,>' 4"8/( '4 (,"+0"#0*h",*'+Y G+ ,./ ,#"+(2",*'+ '4 #/=*'+"2*(&( *+ 2*,/#"#< 0*"2'=5/?a 50" 5!'&+('-%! L 6K7Y KdX[KLD? J";&;H"/#9 g*#(,/+? KFFc? G$&#/$+-$,+ '&* -0" G'&#/'#" %> 5!'&+('-$%&? U0*+:5#=.Y U0*+:5#=. m+*1/#(*,< )#/((? J"#8'9 l'(/3? KFFC? `%/=*(,/# "+"2<(*( *+ 2*,/#"#< ,#"+(2",*'+Y S 45+8,*'+"2 "33#'"8.?a O'A"( dc 6C7Y C[CD? J/(,.#*/9 %"H/+09 !">"++9 l'"+9 R/5+/#,9 S+" \ Q/"39 P*22*"&? KFFD? P&-!%*/,$&# 4%,$%($&#/$+-$,+? U0*+:5#=.Y U0*+:5#=. m+*1/#(*,< )#/((? J/ o'#;Y %'5,2/0=/? V/1"2"*+/+9 !"&3'? KFFd? `W'22'A5*"2*(&( *+ ,#"+(2",/0 ,/B,? R'5:2/ *2225(*'+qa <,!%++ G'&#/'#"+ '&* 3/(-/!"+ c 6C7Y LX[EE? V*0"9 U5=/+/? CDDC? `-./'#*/( '4 ,#"+(2",*'+?a 55N d 6C7Y CD[ZK? )/,,*,9 rp/? KFFc? `-#"+(2",*+= #/=*(,/#9 (,<2/ "+0 ,'+/ *+ 05::*+= "+0 (5:,*,2*+=?a Q%+5!'&+ dY dD[ Lc? %"&'( )*+,'9 !"#"? KFFD? `N'> *&3'#,"+, *( ,./ >"< <'5 ("< *,q S 0*(85((*'+ '+ ,./ ,#"+(2",*'+ '4 2*+=5*(,*8 1"#*/,*/(?a 5'!#"- KC 6K7Y KED[ZFX? !58./,9 J<#*"&? K FFD? `-#"+(2",*+= 2*,/#"#< ./,/#'2*+=5"2*(&Y 7$R% *" 0%1A!"S+ @#/+8. 1"#*",*'+(?a O+5!'&+('-$%& N"+"'!,0 K!%R",-+ T9 S+,.'+< )<& \ S2/B"+0/# )/#/;#/(,/+;' 6/0(79 CcC[CLd?.,,3Y]]*(=?5#1?/(]35:2*8*,<]*(=]35:2*8",*'+(],#3sKsKFFD]8."3,/#(](58./,?304?
