tid för snabb flexibel inlärning (sou 2011:19)

212

Upload: offentliga-foerlaget

Post on 28-Mar-2016

220 views

Category:

Documents


0 download

DESCRIPTION

Tid för snabb flexibel inlärning (SOU 2011:19)

TRANSCRIPT

SOU 2011:19

Betänkande av Utredningen om tidsbegränsad Sfi

Stockholm 2011

Tid för snabb flexibel inlärning

2011_SOU försätts S-format_sv.indd 1 2011-02-16 10:01:45

Svara på remiss. Hur och varför. Statsrådsberedningen (SB PM 2003:2, reviderad 2009-05-02)

2011_SOU register S-format.indd 1 2011-02-16 10:03:13

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

!"#"$%&#"&'(")*+,-."'."&'/'."0"1("$'2334'5.%$6'23347889:'-,,'#"'"&'+,$".-$"'%'+;;.$-#'-,,',-'$".-';<'=+$'>*"$'&?-&*@&.-')A-'A+&&-'*@$-')%#')B"&)A-')&-((-$"'#"&C1'-,,'$"#*"$&-'@&.$-)'>D$'=+$'*<&#',%.'.",'@$'1DE*%#,' -,,' ."*,-' %' )B"&)A+&."$B%)&%&#' >D$' %&B-&.$-$"' 5)>%:6' F,$".G&%&#"&')A-'>D$")*<'=+$'"&',%.)("#$@&)&%&#')A-'+,>C$1-)')-1,'(".D1-'=+$'"&',%.)("#$@&)&%&#'A-&';<B"$A-'#$+&.*@##-&."'AC11+&-*'B+H"&G+,(%*.&%&#'C0=')@$B+H6''

I'CA,C("$'2383'>D$*@&#.")'+,$".&%&#),%."&',%**'."&'8'1-$)'2388'5.%$6'23837888:6'

J=">"&'>D$'F,(%*.&%&#).";-$,"1"&,",K'),-,)$<.",'L-&'MED$A*+&.K'-&),@**."' >C$)A-$"&' M%$#%,,-' N$&($-&,' )C1' )@$)A%*.' +,$".-$"' ."&' 8'>"($+-$%'23836'O-&)*%$<.",'P&&-'Q$-*("$#'-&),@**.")')C1')"A$","$-$"'%'+,$".&%&#"&'."&' 8'1-$)'C0='."&' 8R'&CB"1("$' -&),@**.")' ;C*6'1-#6'S"&&-$,'M$"#"')C1')"A$","$-$"6'I'-$(",",'1".'+,$".&%&#"&'=-$'C0A)<'.";-$,"1"&,))"A$","$-$&-'T=C1-)'UC$.*%&#'C0='LC=-&'V+*,#$"&'."*G,-#%,6''

O-&)*%$<.",'WB"$A"$'SD&&"$=C*1'C0='.";-$,"1"&,))"A$","$-$&-'V"&$%A'X1%*))C&'C0='LC=-&&-'Y$?A)1-$A'>D$C$.&-.")'."&'8Z'>"($+-$%'2383',%**')-AA+&&%#-'%'+,$".&%&#"&6''

["&'/8'-+#+),%'"&,*".%#-.")'V"&$%A'X1%*))C&'C0='"$)-,,")'-B'.";-$,"G1"&,))"A$","$-$"&'P&&-'X&B-**K' )C1' %' )%&' ,+$' "$)-,,")' -B' @1&")$<.",'XB-'J"."$=C*1'J-$)'."&'8R'&CB"1("$'23836'W-11-'.-#'>D$C$.&-.")'.";-$,"1"&,))"A$","$-$"' P&."$)' MC$#),$D1' )C1' )-AA+&&%#' %'+,$".&%&#"&6' LC=-&&-' Y$?A)1-$A' "$)-,,")' ."&' 4' 1-$)' 2383' -B'.";-$,"1"&,))"A$","$-$"&'O"$),%&'\C*-&."$6'

]$C0"))*".-$"&' P$E+&' M-A)=%K' %&,"#$-,%C&)>$<#""H;"$,"&' QD$-&'Y"$1K' +&."$B%)&%&#)$<.",' W+^-&&"' \"=$"&)' C0=' .CA,C$-&."&'O-$%&'W-&._-**'+,)<#)',%**'"H;"$,"$'%'+,$".&%&#"&'."&'8Z'>"($+-$%'23836'["&' 23' ."0"1("$' 2383' "$)-,,")' P$E+&' M-A)=%' -B' +,$".-$"&' U%&-'P&."$))C&GM$?&E-6'["&'4' -+#+),%' 2383' >D$C$.&-.")' ?,,"$*%#-$"' "&')-AA+&&%#'%'+,$".&%&#"&K'.";-$,"1"&,))"A$","$-$"&'O-$%&'W,%**"$+.6'

'

! !

!

!

F,$".&%&#"&K' )C1' =-$' ,-#%,' &-1&",' F,$".&%&#"&' C1' ,%.)G("#$@&)-.')>%'5F'2334734:K'DB"$*@1&-$'=@$1".')%,,'(",@&A-&."'!"#$%&'$()*++,$%-./"+.-$")-0')")1'5WNF'2388784:6'''W,C0A=C*1'%'1-$)'2388'''M%$#%,,-'N$&($-&,'

''

`P&&-'Q$-*("$#'S"&&-$,'M$"#"'

'

!""#$%&&'

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

!"##"$%"&&$'$(+,-&&.-/&+/01$/2" )))))))))))))))))))))))))))))))))))))))) 33+

!"##"$%"&&$'$(+4$(1./2" )))))))))))))))))))))))))))))))))))))))))))))))))) 35+

!"##"$%"&&$'$(+67"8'/2"))))))))))))))))))))))))))))))))))))))))))))))))))) 3*+

!"##"$%"&&$'$(+9:7#"$;<' )))))))))))))))))))))))))))))))))))))))))))))))) =>+

!"##"$%"&&$'$(+!?7"$' )))))))))))))))))))))))))))))))))))))))))))))))))))))) =5+

!"##"$%"&&$'$(+!?#".'/2" )))))))))))))))))))))))))))))))))))))))))))))))) =*+

!"##"$%"&&$'$(+@A"'.-$;/2" )))))))))))))))))))))))))))))))))))))))))))))) >>+

BC7%"&&$'$(/%C7/."( ))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))) >D+

3 E#+:FF;7"(1&+?GA+"781&1&+#1;+:FF;7"(1& )))))))))))))))))))) H3

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

!", -.&/01/'&2)*'*/3)%/.$$%&'()* """"""""""""""""""""""""""""""""""""""""""""""""" +,

!","! 45(&'/2)(&)$$""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" ++

!"6 -.&/01/7'(*/.$$/2)*89:'9%)* """"""""""""""""""""""""""""""""""""""""""""""""""" +;

5/

I$$1AJ..+ !EK+=L33M3*+

+

+

= BC7/."(+&'..+&';/81(7-$/$'$(+N+:&(J$(/F:$2&17+?GA+

:&%?7#$'$()))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))HD

,"! #*217%919()9/$52<&='>/19?3/)**/5& """""""""""""""""""""""""""""""""""""""""";@

,", A9/>'33'97'(%/.*217%919(>*1%/$5/B<(>*/*05/5&""""""""""""""""""""""";+ ,","! #*217%919(>357)9/>:'/C'>*>*877'>/1/)9/19%101%.)77/

>*.%1)$7'9""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""";D

,",", #*217%919()9/35>*)/:?3219)&'>/3)%/C<&08&0>'&2)*)/$5/)**/28**&)/>8**"""""""""""""""""""""""""""""""""""";E

,","6 F1%>2)(&89>919(/1/C<&B577'9%)/*177/%)7*'('&)/3)%/2)B?0/'0/>8&>:17*/>*<%""""""""""""""""""""""""""""""""""""""""""""""""""""G@

,"6 H<=71(B)*/*177/'02&?** """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""G+

,"+ #9%)&01>919()9/.$$B<&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""GD

,"; I&'0/$5/.$$(1C*>>:J7%1(B)*/C<&/'**/271/'9*'()9 """""""""""""""""""""""GE

,"G K8**)9/'**/<0)&:7'(' """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""D@

,"D L0)&(59()9/*177/)9/*1%>2)(&89>919(/?MB/1:&'C**&8%'9%)* """""""D!

,"N O)B?0)*/'0/19C?&3'*1?9/01%/<0)&(59()9/*177/)9/*1%>2)(&89>919("""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""D,

> O";+81AC0/+%C7+"&&+1$+&';/81(7-$/$'$(+/2"+%:$(17"P))))))))D5

6"! #9%)&01>919()9/35>*)/19%101%.'71>)&'>"""""""""""""""""""""""""""""""""""DG

6"!"! P)9/19%101%.)77'/>*.%1)$7'9)9/)**/01:*1(*/0)&:*J("""""""DG 6"!", P?:.3)9*'*1?9/'0/0'%/>?3/.$$95**>/.9%)&/

.*217%919(>*1%)9 """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""DN

6"!"6 Q9$'>>'%/.9%)&01>919(/?MB/>*<%19>'*>)&/.9%)&/>C1 """""N@

6", ACC):*101>)&19(/3)%/C?:.>/$5/78&'9%)*/?MB/78&'&9' """""""""""""""""N+

6","! R7)S12)7*/78&'9%)/?MB/*):91:)9>/3<=71(B)*)& """""""""""""""N; 6",", A9/*177(89(71(/.9%)&01>919("""""""""""""""""""""""""""""""""""""""""""E6

6","6 H)*?%>*<%/?MB/'%):0'*'/78&0)&:*J("""""""""""""""""""""""""""""E;

6"6 T'3>J9/?MB/>'30)&:'9/.9%)&/?MB/)C*)&/>C1U*1%)9"""""""""""""""""""EN 6"6"! A9/*1%>2)(&89>919(/>*877)&/:&'0/$5/C.9()&'9%)/

>'30)&:'9/19?3/:?33.9)9 """"""""""""""""""""""""""""""""""""""""EE

6"6", L:'%/>'30)&:'9/2)B<0>/3)77'9/>C1/?MB/>8&0.S"""""""""!@;

6"6"6 V9*)&:?33.9'7/>'30)&:'9"""""""""""""""""""""""""""""""""""""""""!@E

Q/

!EK+=L33M3*+ I$$1AJ..+

+

+

6"+ R?&*>8**919()9/)C*)&/>C1"""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !!!

6"+"! T*.%1)$7'9)9/>:'/80)9/?3C'**'/%)7*'('&)9>/$7'9)&/)C*)&/'0>7.*'%/>C1 """""""""""""""""""""""""""""""""""""""""""""""""""""""""" !!,

6"+", K)()70)&:)*/2)B<0)&/:7'&(<&'>""""""""""""""""""""""""""""""""""" !!6

6"+"6 L:'%/J&:)>$&?C17)&19(/19?3/%)9/(&.9%78(('9%)/0.S)9.*217%919()9 """""""""""""""""""""""""""""""""""""""""""""""""""""" !!+

6"+"+ K1:*'%)/'&2)*>3'&:9'%>.*217%919('&""""""""""""""""""""""""" !!G

6"+"; F1%>2)(&89>919(/'0/>C1/W/:?9>):0)9>)&/C<&/>?M1'7*=89>*)9""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !!E

6"+"G R19'9>1)77/>'3?&%919(/'0/&)B'2171*)&19(>19>'*>)& """""" !,+

H @';/81(7-$/$'$(1$/+12?$?#'/2"+%C7:&/-&&$'$("7+?GA+

2?$/1201$/17 ))))))))))))))))))))))))))))))))))))))))))))))))))))))))))) 3=D

+"! A*'27)&19(>&)C?&3)9/W/):?9?31>:'/:?9>):0)9>)& """""""""""""" !,N

+", F1%>2)(&89>919()9/?MB/C<&89%&'%/)C*)&C&5('9/W/):?9?31>:'/:?9>):0)9>)&""""""""""""""""""""""""""""""""""""""""""""""""""""" !6,

+","! R<&89%&19('&/1/)C*)&C&5('9 """""""""""""""""""""""""""""""""""""""""" !66

+",", R19'9>1)&19(/'0/>*.%1)&9'"""""""""""""""""""""""""""""""""""""""""""" !6;

+","6 T7.*>'*>)& """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !6D

+"6 A:?9?31>:'/:?9>):0)9>)&/C<&/>*'*X/:?33.9/?MB/19%101% """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !6N

+"+ L0&1('/:?>*9'%)& """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !+!

+"; F1%>2)(&89>919()9>/)CC):*)&/35>*)/C<7='>/.$$ """"""""""""""""""""" !+6

5 R"2(7:$;+?GA+:$;17."(+%C7+"781&1& ))))))))))))))))))))))))))))) 3H5

;"! I?&*/?3/>C1 """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !+G

;"!"! Q77389*/?3/2)>*833)7>)&9' """"""""""""""""""""""""""""""""""""" !+D

;", A*'27)&19(>&)C?&3)9 """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !+E

;","! T'3B877>?&1)9*)&19( """""""""""""""""""""""""""""""""""""""""""""""""""" !;@

;"6 Y17:'/78>)&/>C1Z""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !;!

;"+ I.&>%)7*'('&)/$5/%)/?71:'/>*.%1)08('&9'/?MB/%)&'>/&)>.7*'*/5&/,@@E """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !;+

;"+"! 4J2<&='&)/,@@D/?MB/%)&'>/&)>.7*'*/*"?"3"/,@@E""""""""" !;G

;"+", P)7*'('&9'>/2':(&.9%/,@@E"""""""""""""""""""""""""""""""""""""""" !;N

D/

I$$1AJ..+ !EK+=L33M3*+

+

+

S/

;"; F17783$919()9/'0/2)>*833)7>)&9'/1/>:?77'()9/?3/'02&?**/1/.9%)&01>919()9 """"""""""""""""""""""""""""""""""""""""""""""""""""""""!;E

;";"! [&'S1>/C&59/T:?708>)9%)*>/<0)&:7'('9%)9839%"""""""""!G,

;"G T*.%1)*1%/?MB/'02&?**""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!G+

;"G"! T*.%1)*1%)9>/789(%/3)%/'0>))9%)/$5/?71:'/2':(&.9%>C':*?&)&"""""""""""""""""""""""""""""""""""""""""""""""""""""""!GN

;"D A9/.*271M:/<0)&/A.&?$' """"""""""""""""""""""""""""""""""""""""""""""""""""""""""!D;

;"D"! T$&5::&'0/:?$$7'%)/*177/190'9%&19(>&)(7)&9' """""""""""""!D;

;"D", K8**1(B)*/?MB/>:J7%1(B)*/'**/78&'/>1(/>$&5:)* """""""""""""!DG

;"D"6 R<&):?3>*)9/'0/*1%>2)(&89>919( """""""""""""""""""""""""""""""!DD

;"D"+ AS)3$7)*/4?&() """"""""""""""""""""""""""""""""""""""""""""""""""""""""""!DE

;"D"; AS)3$7)*/P'93'&: """""""""""""""""""""""""""""""""""""""""""""""""""""!N,

;"D"G Y'%/T0)&1()/:'9/78&'/'0/'9%&'/789%)&/W/)9/>.33)&19( """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!N;

;"N F1%>2)(&89>919(/W/3<=71(B)*)&/?MB/C'&B5(?&""""""""""""""""""""""""!NG

;"N"! H<=71(B)*)&/?MB/C'&B5(?&/W/789>>*J&)7>)&9'>/$)&>$):*10 """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!ND

;"N", H<=71(B)*)&/?MB/C'&B5(?&/W/:?33.9)&9'>/$)&>$):*10 """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!E@

!-7/2'.&+T&&7"$;1)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))3*5+

R'."(?7+

O17'('/!////I?331**\%1&):*10 """""""""""""""""""""""""""""""""""""""""""""""""""""""""""!ED/

O17'('/,////F1778((>%1&):*10 """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""",@D//

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

!"#"$%&#"&' ()$' *%++,)**' "&' ,-$,.%+/' 0*$"/)$"' 12$' )**' 0&/"$,2.)' (0$'1+"$' &3)&+-&/)' %&4)&/$)$"' ,.)' .0&&)' +-$)' ,%#' ,4"&,.)' ,&)55)$"'#"&67')**'$"#+"$&)'-&/$),'12$'0&/"$'(0$'+8&#'*%/'/"*',.)'4)$)'729:+%#*')**'/"+*)'%',4"&,.0&/"$4%,&%&#'12$'%&4)&/$)$"';,1%<=''

>%$".*%4"&'*%++'0*$"/&%&#"&'1%&&,',67'5%+)#)'%'/"**)'5"*-&.)&/"*',)7*'?8'@"55?+)*,"&A=B*$"/&%&#"&,'12$,+)#',.)',31*)'*%++')**'"11".*%4%:,"$)'0*5%+/&%&#"&' ,8' )**'/"*' ,.)?),'#3&&,)77)$"' 12$0*,-**&%&#)$' 12$'%&4)&/$)$"')**'%&*"#$"$),'%',)7(-++"*'6C('12$')**'/"',&)55)$"',.)'.0&&)'"*)5+"$)',%#'?8')$5"*,7)$.&)/"&=''

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

F%/,5"#$-&,&%&#"&'()$'0*16$7)*,'0*%1$8&'4)/',67'#-++"$'12$'/"&'&3+%#"&' %&*$6/0C"$)/"' "*)5+"$%&#,$"16$7"&' 12$' 4%,,)' &3)&+-&/)'%&4)&/$)$"='G31*"*'7"/'/"&&)'$"16$7'-$')**',8',&)$*',67'729+%#*'#"'/"' &3)&+-&/)' 12$0*,-**&%&#)$' 12$' "#"&12$,2$9&%&#' 6C(' )**' ,*-$.)'/"$),').*%4)'/"+*)#)&/"'%')$5"*,:'6C(',)7(-++,+%4"*H'4%+."*'-4"&'+%##"$'%'+%&9"'7"/'/"&&)'0*$"/&%&#,'/%$".*%4=''

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

!'

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

*

*

I$)712$' )++*' 5"(24"$' 0&/"$4%,&%&#"&' #2$),' 7"$' 1+"E%5"+' 6C(' %&/%:4%/0)+%,"$),'%'(2#$"'#$)/='L4"$#8&#"&'*%++'6$/%&)$%"'0*5%+/&%&#,,3,*"7'+%.,67' *%++' /"' %&,)*,"$' ,67' "$590/,' %&67' )$5"*,7)$.&)/,?6+%*%."&'78,*"'10&#"$)'?8'"**',7%/%#*',-**='I2$')&)+1)5"*"$'6C('?"$,6&"$'7"/'.6$*'0*5%+/&%&#'5"(24,',-$,.%+/)')$5"*,7)$.&)/,0*5%+/&%&#)$=''

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

>"*'1+"E%5+)'+-$)&/"*'.)&'7"/'*".&%."&,'(9-+?'#2$)'0*5%+/&%&#"&'7"$'*%++#-&#+%#H'58/"'%'*%/'6C('$07H'4%+."*'2.)$'729+%#("*"$&)')**'.0&&)'*)'/"+')4'0&/"$4%,&%&#"&'4%/'*="E='12$-+/$)+"/%#("*'6C('12$4-$4,)$5"*"='>"*'#"$'-4"&'729+%#("*"$')**'/%11"$"&*%"$)'0&/"$4%,&%&#,#$0??"$&)'?8'"**' 5-**$"' ,-**' #"&67' ,)7)$5"*"' 24"$' .6770&#$-&,"$&)=' B*$"/:&%&#"&'12$",+8$')**'"&'/"+"#)*%6&'*%++,-**,'12$')**'0*4"C.+)'"**',8/)&*'1+"E%5"+*'+-$)&/"=''

I2$')**'%&*"'?"$,6&"$',67'16$*,-**"$')**'+-,)',4"&,.)',67')&/$):,?$8.' %&67' /"&' #$0&/+-##)&/"' 40E"&0*5%+/&%&#"&' ,.)' 5"(24)')&,2.)'67',*0/%"7"/"+',8' +-&#"',67'7)&' +-,"$',4"&,.)'?8'#$0&/:+-##)&/"'&%48H'12$",+8$'4%')**',*0/%"$'%',4"&,.)',67')&/$),?$8.'0&/"$'/"'*48'12$,*)'8$"&'%&*"',.)'4)$)',*0/%"7"/"+,5"$-**%#)/"='O"/'/"**)'12$,+)#'5"/27,'/"' 12$",+)#&)' 12$-&/$%&#)$&)' %&*"' ?84"$.)' .6,*&)/,)&,4)$"*'7"++)&',*)*'6C('.6770&='

>"*' -$' 4%.*%#*' )**' *%/,5"#$-&,&%&#"&' 12+9,' 0??' ,8' )**' "11".*"$&)'&-$7)$"'.)&',*0/"$),='>"*'-$',-$,.%+*'4%.*%#*')**'12+9)'0??'4%+.)'.6&,".4:"&,"$'"&'*%/,5"#$-&,&%&#'18$'12$'?"$,6&"$',67'()$'.6$*'0*5%+/&%&#,5).:#$0&/'"++"$'-$')&)+1)5"*"$',)7*'4%+.)'.6&,".4"&,"$'"&'*%/,5"#$-&,:&%&#' 18$' 12$' ?"$,6&"$'7"/' 10&.*%6&,&"/,-**&%&#='P6&,".4"&,"$&)')4'*%/,5"#$-&,&%&#"&'52$'-4"&'12+9),'0??'0$'"**'5$"/)$"' %&*"#$)*%6&,:'6C(' 9-7,*-++/("*,?"$,?".*%4=' G+0*+%#"&' 78,*"' -4"&' ".6&67%,.)' 6C(')&/$)'.6&,".4"&,"$'12$',84-+',*)*H'.6770&',67'%&/%4%/'12+9),'0??=''

'

/.'

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

!"#$%&'&()*+),-.)/0""102")23++3&43""&'&()

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

55!

,3++3&43""&'&() ,6!)785595:)

)

)

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

57!

,6!)785595:) ,3++3&43""&'&()

)

)

5;!

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

!"##$%&'

!"#$ %&'#()*#)+$ ",-$ ,..&/)+#0$ ,)$ 1)23/(4$ 5",/($ +&$ /)'#-+/6,+#$"&7$ *&(#$ )#784$ ,((/'#0$ /**/6(,)+-$ 9,)$ 8#,()$ :7#0/-"$ *&(#$23/9;84$ +"(&36"$ 9",)6#-$ +&$ +"#$ (38#-$ 9&)9#()/)6$ "&7$ 8&)6$ /+$-"&380$<#$.&--/<8#$+&$+,;#$.,(+$/)$:7#0/-"$=&($1**/6(,)+-$>:?1@A$$

!"#$+#(*-$&=$(#=#(#)9#$=&($+"#$1)23/(4$,(#$/)9830#0$,-$,)$,))#B$+&$ +"/-$ (#.&(+$ ,)0$ ,(#$ ,8-&$ ,',/8,<8#$ &)$ +"#$7#<-/+#CA$!"#$ 1)23/(4$.(&.&-,8-$,(#$/)+#)0#0$+&$*,;#$8,)63,6#$+(,/)/)6$*&(#$#==/9/#)+$/)$&(0#($ +&$ 9(#,+#$ *&(#$ =,'&3(,<8#$ 9&)0/+/&)-$ =&($ /**/6(,)+-$ +&$<#9&*#$/)+#6(,+#0$/)+&$-&9/#+4$,)0$/)$&(0#($=&($+"#*$+&$<#$,<8#$+&$<#9&*#$#-+,<8/-"#0$&)$+"#$8,<&3($*,(;#+$*&(#$23/9;84A$$

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

!"/-$+/*#$8/*/+$",-$<##)$9"&-#)$<,-#0$&)$+"#$(38#-$+",+$,..84$=&($+"#$#-+,<8/-"*#)+$(#=&(*$=&($9#(+,/)$)#784$,((/'#0$/**/6(,)+-$+",+$7,-$ (#9#)+84$ /)+(&039#0A$ !"#$ ,/*$ &=$ +"/-$ (#=&(*$ /-$ +&$ 9(#,+#$ +"#$9&)0/+/&)-$ =&($ )#784$ ,((/'#0$ /**/6(,)+-$ +&D$ ,-$ -&&)$ ,-$ .&--/<8#D$-3..&(+$ +"#*-#8'#-$ ,)0$ +&$ -+(#)6+"#)$ +"#/($ ,9+/'#$.,(+/9/.,+/&)$ /)$7&(;/)6$8/=#$,)0$-&9/#+4H$+"/-$/-$/)$8/)#$7/+"$+"#$+#(*-$&=$(#=#(#)9#$&=$+"/-$1)23/(4A$$

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$C$"++.IJJ777A-&3A6&'A-#J-=/J$

!"$

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

)

)

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

S/+"$+"#$"#8.$&=$+#9")&8&64D$=8#B/<8#$8#,()/)6$9,)$*,;#$+#,9"/)6$*&(#$ ,99#--/<8#$ T$ <&+"$ /)$ +#(*-$ &=$ +/*#$ ,)0$ 8&9,+/&)$ T$ 7"/9"$/*.(&'#-$+"#$.&--/</8/+/#-$&=$,99#--/)6$+#,9"/)6D$=&($#B,*.8#$03(/)6$.,(#)+,8$ 8#,'#$ &($ #*.8&4*#)+A$ 1+$ ,8-&$ .(&'/0#-$ &..&(+3)/+/#-$ +&$<#++#($ 0/==#(#)+/,+#$ <#+7##)$ +#,9"/)6$ 6(&3.-$ +"(&36"$ 9&&.#(,+/&)$<#+7##)$*3)/9/.,8/+/#-A$!"#$1)23/(4$.(&.&-#-$+",+$,$0#8#6,+/&)$<#$,..&/)+#0$+&$0#'#8&.$-39"$,$-4-+#*$&=$=8#B/<8#$8#,()/)6A$$

:&$+",+$.#&.8#$7"&$9&)+/)3#$+&$-+304$:7#0/-"$,-$,$-#9&)0$8,)F63,6#$ ,-$ .,(+$ &=$ <,-/9$ ,038+$ #039,+/&)$ 0&$ )&+$ )##0$ +&$ ,..84$ =&($=/),)9/,8$-3..&(+$=&($-+30/#-$,-$8&)6$,-$+"#4$,(#$-+304/)6$:7#0/-"$,+$<,-/9$8#'#8D$7#$.(&.&-#$+",+$-+30/#-$/)$:7#0/-"$,-$,$-#9&)0$8,)63,6#$03(/)6$ +"#$ =/(-+$ +7&$ 4#,(-$ -"&380$ )&+$ 9,((4$ ,)$ #)+/+8#*#)+$ +&$=/),)9/,8$ -3..&(+$ =&($ -+30/#-A$ S/+"$ +"/-$ .(&.&-,8D$ +"#$ .(&.&-#0$9",)6#-$7/88$)&+$,==#9+$+"#$9&-+$(#-.&)-/</8/+4$<#+7##)$9#)+(,8$6&'#()F*#)+$,)0$*3)/9/.,8/+/#-A$

1+$ /-$ /*.&(+,)+$ +",+$ +"#$ +/*#$ 8/*/+$ <#$ =&88&7#0$ 3.$ -&$ +",+$ +"#$#==#9+-$9,)$<#$-+30/#0$*&(#$98&-#84A$1+$ /-$.,(+/938,(84$ /*.&(+,)+$+&$=&88&7$ 3.$ 7",+$ 9&)-#23#)9#-$ ,$ +/*#$ 8/*/+$ *,4$ ",'#$ =&($ .#&.8#$7"&D$ =&($ ',(/&3-$ (#,-&)-D$ ",'#$ 8#,()/)6$ 0/==/938+/#-D$ 7"&$ 0&$ )&+$

!0$

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

)

)

!1$

",'#$*39"$#039,+/&)$&($7"&$,(#$/88/+#(,+#A$!"#$9&)-#23#)9#-$&=$+"#$+/*#$ 8/*/+$ -"&380$ ,8-&$ <#$ =&88&7#0$3.$ =(&*$ ,$ <(&,0#($ /)+#6(,+/&)$,)0$ 6#)0#($ #23,8/+4$ .#(-.#9+/'#A$ ?/),884D$ +"#$ =/),)9/,8$ ,)0$ &+"#($9&)-#23#)9#-$ =&($ 9#)+(,8$ 6&'#()*#)+D$ *3)/9/.,8/+/#-$ ,)0$ /)0/F'/03,8-$*3-+$,8-&$<#$=&88&7#0$3.A$$$

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

%&' () *+, -./, 01&234 5.6$ 718 92+$ :3; 5<=<>?34 5$>@+34 A=6) 5B#34 =<>?34 :3; 1C<=D (&$E1234 (<FG16.34 ($ FH'I E=) J#/K< LI (@.< MK34 NFKO31, 52#/K.34 =)4>234 F&&BP 9<FQ () R3ST UFVI NW>X, 5<=<>?34

V4WE MY 5'W1Z.34 MY [F.34 16&\.< LI (@.< (<FG16.#3 5<=<>?34 5B#34 5) ]4 ^; _4sfi.(

-@` :#) NE>G>$ 9&2+K34 :#) Ja1234 16&#) -XD MK34 A16&G>K34 L; bcFKcd4 ef>$ MYT g4FKfh4 4ij e$ 9+#$! . 9&2+K34 g4FKf4 _=6< LI kl<

m$=3 FH'I NW>X, 5HV1n$ _TFo 9#"P *&+, J&#/K34 5&31/Y NE1<p :3;.Kl.34 MY (<FG16.34 q>V MY J6?OcI b&HCP ($ UFVI NW>X, 4>[email protected]< M@3T e

-./34. :3; 1C<=D =Y4>34 FG16.34 [=, Mn/< Mn$p =<=+P :3; 9&2+K34 -r>P =/, N=D4T 5nV s=/KP h NFKY tu8 (<FG16.#3 5<=<>?34 5B#34 5V4WE =<>?34

5&c=.34 t4>Dv4 -lV MY w&Y w#&l?P JP 0>< tTI)]>On34 =&f.(I kl< h =<xP Ld4 5V4W=34 NFKY(&KnV () 5&31.G . (.y ^F?< 1.3 5H?n31, t1+34 >j 1.'T

34 () %f>K34 [F.34 eV>, L>@< LI kl&Y sF8v4 (&B31H34 A1V4WE 5V4W=5V4W=34 NFKY tu8 . gFK2<I MY J&#/K34 MY 5'W1Z.34 MY 9+34 M\2n< LI 1\<

=/, 5$1P NW>X, (<FG16.#3 5<=<>?34 5B#34 A1V4WE z<W1K34 ($ A4>nV e,WI s=D; MY 5&c=.34 t4>Dv4 -lV MY !"Z34 -&l?P NF$ tTv w&Y JP ^i34

A1<=#H34 .FKY tu8 [F.34 eV>, L>@< LI kl< 5)FV w?On, WF2< LI 5V4W=34 N; L1' 1.31Q R3S E>GT 531D MY 5V4W=34 () %f>K34 NFKY t>QT 5V4W=34 01.P

v4 NFKY W1Q; (.y JK< [MZ34 4ijA4>nV 5/,W. Mn$x34 =<=+K34 -&@ZP JP4 gurd 5H?n31, ^F?< ^i34 [MZ34 ($ 1fu{c

:3; 1C<=D (&$=234 (<FG16.34 |/H3 5H?n31, 4F8}$ w2&H{P [=, ^i34 z&VFK34=<>?34 . 5&P4}.34 _TF~34 F&Y>P >j gurd4 4ij [4WT ($1@34 _=634 L;

T UFVI MY (@.K< M@3 1C<=D 0E1234 FG16.#3 w?On, w?Oc 531); ($ (@.$ bf

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!"#$$%&''((()*+,)-+.)*/'*01'

!""

#$%&#'(!!)#

#

#

($ =<4xK$ E=) (@.K< M@3 5&n$x34 ET=+34 eyT MO@< uY t1D ^I :#) <=<>?34 5B#34 MY e<FVT M3TI ]1VI :#) t>X+34 ]1n345 . ($ =<x$ �1nj

NET=+.34 5&n$x34 NFKO34 FQI F&?P M@3 0x#P MK34T F$v4 16H#{K< MK34 [1&`v41$ :#) A16&G>K34 [4WT ($1@34 =X234 k?D 04F< . g4FKf4 W1HK)4 kl&Y R3i3

) 1QTF` �FO< MaxG gur�' Mn$x34 =<=+K34 kl< sF8I [1&`I E>GT :# 16Dur;I1\< .TI NW>X, F$v4 k#{K< �5cTF$ FC'I J&#/K34 -.) JK< LI 5&3

FH'I -@Z, ^EFY ]1VI :#) w#.) JK< LIT . L; ^E1) M.&#/P 01~c :3; t12Kch4TIF/P MK34 A4[4FGd4 1\< F&?P LI kl< -./34 q>V 5V1&V (.y �

5cF$ NW>X, . NF&X234 5&.&#/K34 5&O#"34 ^TS ($ 71"`v4T (&&$�3 5H?n31,-./34 q>?, 9#/KP 5r18 A1V4WE k#{K< F$v4 L�Y.

($ [4=K,41 >&3>< )p>.P (2012 NW>X, �FO&V ; E>GT 5<W1HGG16.#3 5<=<>?34 5B#34 5V4WE (.y 5<EFY 5&V4WE A1{{"$(<F . gFK2<

]W4=.34 5+#X$ :3; =6/< LI 9&2+K34Skolverket 5$1) �a1Xc 5,1K@, 01&234 �<W=K34 -/l3 tTv4 012.34 MY N4E�' A1{{".34 �ij t1./KV4 5&O&' t>D

1<EFY . t1l$ =/,4 :3; t>r>34 MY (&'W1Z.34 ($ !"` -' (@.K< M@3 < LI 1\<I J6.34 (.Y w3 5D1K.34 NFKO34 tu8 (@.$ 52&fE NW>X, ]W=.34 e,1K

�=+< ^i34 M,1l<h4 W>{K34 .NF.K?$ NW>X, R3S 9&�>P JK< LI kl< . M@3T ^TS ($ 71"`�3 5�&6K34 k#{K< F$v4 L�Y e&.l#3 1D1K$ J&#/K34 L>@< NE1OKVh4 MY 5,>/r ($ L>c1/< (<i34 71"`�3 1\<IT 5r1"34 A1G1&KDh4

5&+X34 J6K31D [>V kH?, J&#/K34 ($. N=)1?., FH'I NW>X, 1D1K$ J&#/K34 -/l< LI (@.< LF.34 J#/K34 L;

A1&n2K34 ($ =<x< [MZ34 4ijT �[email protected] L1$x34 ($ -@, 9#/K< 1.&Y �NFY>K.34 Np1G; MY 4p1l$ [F.34 L>' 531D MY uC$ J&#/K34 :#) t>X+34 5&c1@$;

.) ]W1.< TI (<=34>34u8E wn$ k?@< - . 4ij FY>< 1.'I1\< e<p>P 5&c1@$; A1<=#H34 ET=D FH) LT1/K34 9<FQ () -\YI NW>X, 5&V4W=34 A1)>.l.34 .

LF.34 J#/K34 F<>{P 5&3T}?$ 16&3; =6/< N=DT �&V�P 9&2+K34 gFK2< . 5B#' 5<=<>?34 5B#34 5V4WE MY LTF.K?< (<i34 71"`v4 �1K+< h M@3

J)E k#Q :3; 5&V1Vv4 (&B31H34 A1V4WE (.y 5&c1� 4>c1' 1.31Q MV4WE ^E1$ A1V4WE -j}P h LI gFK2c 1nc�Y MV1Vv4 s>K?.34 :#) 5V4W=34 L>VW1.< ^E1.34 J)=34 :#) (&KnV tTI tu8 -X+< LI [F.34 5&c1� 5B#' 5<=<>?34 5B#34

MV4W=34 . :#) F�}P (3 5DFK2.34 A4F&&BK34 LI J&2c g4FKfh4 4ij 9<FQ ()(&, %&31@K34 e<p>P 5&3T}?$5<=#H34T 5$>@+34 .

() 5.G1n34 W1��4 5V4WE (@.< *&+, Mn$x34 =<=+K34 5/,1K$ J6.34 ($52&fE NW>X, R3S .G1n34 kf4>/34 Mj 1$ 5/,1K$ 5r18 NW>X, J6.34 ($ () 5.

�3 5H?n31, Mn$x34 =<=+K34 A1,>/r ($ 5O#K"$ �1HVv L>c1/< ^i34 71"`5&.&#/K34 5&O#"34 ^TS TI �J#/K34 MY(&&$v4 ($ J6c>' kH?, TI NF&X234 . 1.'

'(

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

#

#

'!"

E4FYv4T 5<=#H34T 5$>@+#3 5H?n31, sF8v4 kf4>/34T 5<E1.34 kf4>/34 5/,1K$.

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

!"#$%&'()#*%+,-*.&#&)'/-0&'+)'/-+.)#"1"-&)#2)3(#*3+.()0"#".)#/)4()5/4/)6&1+0(.).$7/'+)4()64&)8$'"1)9(1+),4&:+)0"#".)0")1"-/)#2);/+:&)4&1".) <27&1'".) =") 0*) :&%/) 0&!:/10$./) >,9"?) @) A&14&1:&-/) 8"%/.(),4(:+)-/)=")0*)0+-/.+-/.BC))

D/3$%/'(.)3(#*3+.()4&#)A(E*#):")E()1/A*1():&)$):")%/3A&1(:/F)=+)7&-&C) G&0&,'/) 3(#*3+.() &4) &) #2) A&14&1:&-() 0/!'"1) 0"#&) ="0&1)&.H/%(.)0") 9/-:&) =") 0*)0+-/.+-/.):/)#2)&4) '&E3+) H"E/#()0"0".)$):")A(E/=*-():&)8$'"1):")./E)A"-/,&-/)#/1):&)64&:+)!"623)0"0".C))

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

K&%,+.*1)3")<*1)1&9*1%&#)0".<&7+.)#2)0")5&.:/#+)=")0*)0+-/.+-(.).$7/'+)A(!#&!)0$-&)7/'"-&)/%/:&)#"1".C)G&0&,'/)E()1&9*1%()&4)&)#2):"):&%&#)&)#".'"1+.:&)!&1'() 3")64&)0")64&.(1+.)0"):&,')#&,().$7/'+)0"(6()$)A"!'<"1"-/)4/.)0"#()#2):")="-/./)#/1+)$)H"E/#+):&)5/3/#)0".C)LE)=+)0")'/3+%/'/)3(#*3+.(:&):")-&#)6&'(:&)-&C))

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

)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))F)7''AQRR444C,*2C<*EC,&R,9"R)

!")

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

#

#

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

V(1#"1"./)93&#,+0&3)#/1()0")/3+#/1+-/)'&#.+#():&1,/.)0('"1)0&1:&,')0"#(C)!&%)=")/4-()4&6')7&%)=+)H"7C)LE)=+)+%#/./)#2)'2)7&%/.):&%/)#/1"0&):&1,()0"0+.()0"):&,') '+.&C)W&#)GX./#Q):&%/)#2)%"1*E)#/1()0(%&/!)0"#()/.)=+):")+8./):($0/E+'+-(:&)0(C)!&1)4&#+):".)0")1"-/)#2)%"1*E) :") ./E0&1/) !/1&:/1+-/.:&) 7&E#/1+-() 0"#() +%#/./) #2) %"1*E),"."9/.)=&E)H2:&)0"#()5(:"0&C)I(#*3+.)A(!.+-/8):"#&)#2):&3&</,-*.&#)'/-+.)0"0&)#2)9(1#"1"./)4",/)93&#,+0&3)0('"1)0"A(!E&)0"0(C)

N") 0&1) #2) !&6,(.) #2) 64&.:"./) 64&) -/) 0".<&7+) 0") ,4(:+) 4&#)8"%/.() :2-&%+.) 0&1:&4/%) :"#".) %&H0$1) .&%+.".) %"1/H/&'() 3")A"!'<"1"-/)%/::+)-/)=")0*)64&.:".()0"#".Y)&%)A(!.+-/8):"#".)#2)7&1):2),/3(.)A(!+)0()%/9:/1+-/)A"!'<"1"-/)%/::+)-/)=")0*)64&.:".()0".C)O") E() A(!.+-/8() ./-() 0/4&1#"1".) #2) &4) <271'".(.) .$) '(,+1&) 3")0&1A"1,+-/1+-/)%&,1&9/):")./E0&1/):&43&')$)!/1&:/1+-(:&)0"#(C)

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

!+)

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

+ ,----.,/ #' 0,----12 3%!"#4 5.$3"6----7( 8!"#/ 9----2 !"%----$3&:#;3% <(#2#.,----( <'#.!"!&#=9----174 0#;"----'

#4 52&----7>&(3&7) 8%."----? <$,----;: ""(,----@ 0A" 9----2 !:,----( <$,----.2 #4 &----(!&> <'#.!&,----;B 5C----D

#4 5%&1.&3%-------E#2 <-------(#>&!% #' 8#.!",-------; "#/ 8B-------7&% <$,',?-------76",?,. #' 8!"#/ 8#F-------76

7>5,$,.2 92 8%."? <$,;: <$%&'&)sfi (57&%69F2 #.#@.

G#4 H#.91-----------------E,* H!" #.!"#$.=9-----------------174 G#/ 8#'#..(#.3&#2!"-----------------7&#2 #$,-----------------;&#>

#.#@ 3%-------27" 8#F7-------* #4 ,-------@!"&#@ 3%#.!"#$""-------2%&""74 . 0-------72!% #'!"#$.=9-------174 8&,.$E-------7*

..$,.2 9-----2 &(&,-----2#4 <-----I&#; 8!"#/ 9-----2 0-----72 #'#$%-----$7") <$%&'&#F.&,-----'#2 <(-----?#2#; 5,-----'#

3%&,----' 8&3:,----2 #4 &----("": #' J!"#/ 9----2 !" 3%----=#;9' ",----$ #4 5""----2=#17( 9----2 07&%----$7K="")2

!"#$#12 52&.F7I.

!:,------( #' 0------7$#.#L!% !"#/ J#;#/ #' 0,------' <$%&1.&,.%&""$------? #(E------.#L #'!"#$.=9------174

#2 0------?!% !"#.$%&------' M""$",------$ 8B96 #4 N,------? H#. 83%"#;3"% 0------72!% O------7&#$7PD9'sfi

0,------12 .#I&#------?0------76#*27( N,------? ""% #4 0------72,$ #'#$%------$7") 8!",------; <; . N#L#4 !"7------E",@

8!",------; #4 5(&F$,------D"" #' 0------72#@ !"#/ 8&3"------2 0------72!% 5A,------?!&"#L 8&------( <$,'#$%------$7")

0----7&12 3%#'#$%----$7") . &3"----D J,----* 3%----$%$7") #4 5%&1.&3%----E#2 <>,----; #' 0----7&'!% &,.$E----7* 3"

#' "#/ #' !"!B96 "#4 0------7$7;#$ 8"3"#( #2 &#@ N,------? 3%'#.$3"!&,------E #4 &,------I G#'#. 9------2 #------?

!"3&1-------?""$",$ . 8!",-------; 8B-------7&% !" 8#'#$%-------$7") <-------("!6 89-------) 9-------2 Q9&-------; 0-------72!%

&3"------D "#/ 8!",------; #4 R------I&#;#2 GA#2 03%------2 &,------.62 3%#'#$%------$7") 8!",------; #4 5(&F$,------D""

03%-----2""6 !"3&%&#-----?#4 8&,-----.62 8#=,-----? . #4 <.,-----(9' 8:3"7-----E #'!",-----; <$%&1.&3%&""$-----?

&----'&.F7I 8:3"7----E ""(,----@!:,( 8&#$7PD9----' S%----$#@ 9----2 #' !" !"3&1E#1E----7* !:,----( #' 8#'#$%

07&L!%!",D&#--------? 07&'!%--------7*.&,' . #2 0--------7&12 ,--------(#@ #' #.!"#/ #$%&1',--------D G#/ <I$,--------;,/

8,------;#$2 <$%&1(------?""&% 9------2 07&$7?------)!62 5,------'!""(,@!:,( 9------2 0#>&!% 0,------' 5.&------("":

&,-------' <$,-------.B #4 5,-------.#$,'T,D <$%&1.&3%-------E#2 !" 5%&'"-------7)#29)- "#(-------* 3%-------..(#.A#;9' !"

#..(#.3&#2!"----76#2 #$,----;&#> G#/ #' 03"6!% ,----F76 5,----;#@ &#----?#4 3%----.9)#4 J#;#/ #' U0----7&12

<(7(?#2#;.

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

!"0

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

#

#

#4 3&-------7) <'#.#V,-------$2 8!"#/ 9-------2 0,-------',$ J#2 !",-------; <$%&1.&3%&""$-------? GA#2 <$,-------;:

0----7&$7P2 0----?!%#2 3%.%."----? . 8!"#/ 9----2 #.#@ !"#;#/ N,----* #4 &----( <(----E &9: #2 <(?----."7* !"#/

<(7(------?#2#; #..(#.3&#2!"------76#2 #$,------;&#> G#/ #' 0,------12 &,------' 3" #'!",------; <$%&1.&3%&""$------? .

#' 0----7&12 ,----E,;#( O----7$%&1',D #----E#2 H!" 0----72!% !",----; <$%&1.&,.%&""$----? 8#'!&,.$E----7*

<(---E <$%&1',---D <---I&#;0,---12 3"3% J.&---( . J---.&9: #'#$%&---'&7> !"#17(---E ""---;#@ J7---* #4

5,;E---------7'#2 #' #.#@ !"#2 <(?---------."7*)",I$"F---------E9) (( M#' 89)#2.,---------( #(3" 8"!6',---------( !"

0----7&12 . #' 8#$,----$%&'""2&,2 "#/ 9----2 J,----@!"&#@ 5%----$7") 8&----( <17;#(?----.? 9----2 !"#$(----?3"L

.!"7E #2 072!% 57&'!% J#1E7* 3%&,1.63:,2 <(#?,.? ",$ #40,12 &,' 5,.$";&#$ <'#.

<$,'#$%----$7") #2 0?----."7* #.#@ 5,----.(&"'!",; <$%----$7") #' R$,----?#' !" 53&3"#$7"----)#$ 9----2

#.#@ 0#2#.,( 8&,1.63:,2 .

#4W 89----.4". 8 ):"----;;#( (XYWX <$,----;: <$%----$7") #4 8"!6',----( <$%----$7") 8#E----)#$ !"

0-----72!% R-----Z;!&9: #2 5,-----'#.$,.2 9-----2 8%."-----? . #2 0-----7&12 #' 0,-----'!% &,.$E-----7* #'!"#$.=9-----174

9-----2 !"#.,-----'#(7$7P2 <(E-----L 8&,-----LB9;,/ #' !"#$,',F$%-----$7") <-----(#="!% <.,-----L:!% &#-----?#2 H&#/

2 <------'#.!%36 ,------( !" O------7:3&;,/ H!" #$,E------)#$ G#/ <$,------$7@&,'#2 <(7$9------D #'#$%------$7") :&#

0-----7&12 "!6',-----( . "#4 0-----7D2 J7-----*"!&#2 0-----7&12 ,-----(#@ O7&#1.&3%-----E#2 ""-----;#@ 8!"#/ 9-----2

8%&"" #2 #',(------------?9;,; G3"!%&#2 #' #F$&------------L3"#/ #.3% <------------[7'6 &------------7B#4 #' 8#.!",------------;

0------72#@ 0------7&'!% #' <$,'#$""D!"#E------7*"!&#2 &#------?#4 <------$("#'""%!" . G3"!%&#2 0------72!% #;#/

0----7&12 0----$7;"'9% #2 .!"#/ 9----2 #' 0----7&'!%3"3% 3"#/ 0----7"#12 53"----;#@ \----$D #'#$%&----'&7> 8

!" 5----E9)#$ #' 8#$,----?#' "#/ 9----2 ,----@!"&#@ #=""----I;#' <$,----?#' 9----2 07&$7?----)!62 5%----$,I$"L

5&F2&!" #'#$%&'&7> #4 %""? 5,.T #4 #()#?.

<-----$("#1F$D !"#1.-----$'#( #4 5(&-----L&!" <(#;&,-----. #2 #.#$,;E-----7'#2 #$""-----2&7>"#/ 0-----7&'!%

#4 #'#$%--------$7") <--------(#>&!% 3%--------.9) #4 J#;#/ U0,--------12 &--------(* 3%E--------.$7"E " 0,--------' H""%&#@

%"),-------. 5#'!%&,-------' 8#$3"#/ 9------2 #$""-------;$ 9-------2 0,------'!% %,-------.: 5%-------$7") #4 5(&L&!"%""------?

#.#@ 5,.3",-----? <=3%-----$; <$(,-----@!"#F$#(#2 <-----?#)!&#; . 03%!% J!"#/ <-----(#>&!% ,-----@!"&#@ #;#/

<'#.!"7----E #2 3%----$,'#$%&'&7> 8#=#;9----' 53"----7$ #4 8&,----',.I #' J----."#/ 07&%----2 G,----I$#/ &(----E,2

3%$,'#.$3"!&,----E 8&""$----? 8!"!&!% #4 8&,----1.&,@ 8#F----76 #4 . 0,----'!% &,.$E----7* #'!"#$.=9----174

5,;E7' #2 <17$%&'&7> <$3%7*"!&2 92 07&$7&:#;23% &#$7"$ <'#.#(?!% #'.

<-----.#$.D$2 <$%-----$7") #4 G!"% <$,-----;: H!" 8%."-----? <$,-----;: #' 8#$,-----?#' "#/ 8!"#/ 9-----2

$A,------?!&"#L "#/ ,------(#@ 5#1------2 53&,'%------$7") 8:&#] 83"3% #' 0,------'#$ 0?------."7* 5$7"------)!% 3%

8%."---? #' 5---.#'!% &,.$E---7* 3"#/ U0---7$7")2 <---.#$.D$2 8&,---],/ &#---?#4 8%."---? Q9&---; 8#(,---'

0----7"#'#$ 8&,'%----$7") 8:&#] <>,----; 3%----;#'#. <=,----? ""% #4 G!"% <$,----;: H!" . !&,.$E----7* G#2

$E-----7* #..&,-----1$369L #' 07&$7F$#-----?!%=#@ 3" 8&,.-----?&*&#2 &#-----?#4 5,-----..&#F.&,' 5,'!"3&'&,.

072#$ 3%.$3"!&,E " 0#="!% 53"7$ #4 #'#$""D7(.

8!"#/ 9-------2 0-------72 &#-------?#4 <-------$("#'""%!" #'!",-------; <$%&1.&3%&""$-------? #' #F$&-------L !"#/

0----72 &#----?#4 <----$.$3"67( !"#1.:----$ #4 5,----..&#F.&,' . 5----("#'""%!" #' #F$&----L 0#2#.,----( #2 !"#/

$,-----'#;,I$#/&!% &#-----?#4 5,-----.$""2&7> <()#-----? 8#$3"#/ &#-----? 9-----2 !",-----; <$%&1.&,.%&""$-----? <

0----7&12 5&3"!%----$7")#$ %"),----. #(&"----' 5,.$%----$7") 8#$.E----7* U#.#@. 5----("#'""%!" #' #E----.E,2 3"

8&------($3"3&> <------'#.#F$3"6 #4 0------7&12 !",------; <$%&1.&,.%&""$------? <$,------'#;,I$#/&!% &#------?#4

!+0

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

#

#

!,0

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

!"#"$"%%&'#"(")'&'(*$+"",-")'."",/'01""+'"1'22'+22'."",")"'+*%//'.")'3"(22-*4"'5&+&.'//'#"%"60"6'+22'4"$"7'*6-22%"'&4&'."%"66*'")'"80"' *+#*%1*+10"'+*%"'&4&'%1"01+"1"'."%"6'&'.","6'0",""67'1"%%**'(//,",0"' 9*,"'#"(' $"4"'./%/$2' *)2'#"01-*4"' $22'3226%/)6")2' *6'")'3""-""6' #"(.","+1"%"' "80"' *+#*%1*+10"' //' +1*+1//)"1"' $224&'-"$24$")':+8*;<'

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

'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''?'1--DEFF###<+2&<42G<+/F+8*F'

!"'

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

#

#

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

P",+">"%"' 5"+,*4"' "1*7' #"(")' +"1$")+""' *6' #"(.","+1"%&' ")'6232-2' >*%' $"' ./%./%/$*' 0",27' *+$">",0""+6"' $22' +*>"6' )"1")7'

*''

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

#

#

*('

>",0"' $"4"' 8**,*)2' %1*6"5"' #"01-*4"' #"(' $"' .","6")2' *)2' >//+1"'#"('$"4&'.","6")"."7'-""+*'#"(")'02,'&'3""%")+"'+&&,-24"$0"'"1'*6'$"4"'3/).4/$*'0",2'#"(.","+127'*)"%"'22'$"4&'9*,2'8"+"("'#""$*%**6-"'//'%1"$>"%"'*)2'1"%%**'&&'3280&'1/$2'+1"32."<'J"(""'0"$/'22'*)"6"'9*,*'0",-"'0"$"'1"./)6-"'022("1"'#"(.","+1"%"7'1"%%**' $"'1"4""9*)2'#"%"' +1"3/)6-"' %/4>22)*60"' 0"' %1/(/)+"<' A"",*-""60&'#"(""' &&'+22'9//%*6")""'*6'$"'+">//)2''/,42'0"$"'1".//)2'#"(.","+1"%""+'$"'./%./%/$*'0",2<'

@*' ""6")' %"%0"' %226")"' *6")' +**' #"-""6' #"(.","+1"%"' $&3"%%"'*+#*%1*+10"' //' "1' //' $22' 3""-2' $&3"%' $".""%' "1""67' 0&6"' 9*,"'#"(.","+1"%"' ""+""+*4"' "1' //' %"%0"' #""#/)6' &4&' .""1"6' *6")'%"$."%""6' 4&66"%"' #"(.","+127' *6-"' ")' 0&' %1/(' 9*,""6' 1//,0"'#"(.","+12' //' ""+""+*4"' "1' //' "8' *+#*%1*+10"7' #"(""6&' +22'9//%*6")6""' *6' #"(.","+1"%"' "80"' *+#*%1*+10"' //' $&3"%%"' $".""%7'$"."%"'+"66"%22%'//'&4&'12,//)"' *6'""6")'62326'>*%' $"4&'3""-"6'0",2'4&66"%"'#"(.","+12<'J"(""6&'0&'-"$*6")6""'+22'9//%*6-"6'*)2'#"(' 0"' ./%/$$"%"' 0"$/' //' $"' (*,**,,"7' ""6")' #"(' +"">")6'>"+&&$*)"%%"'01","+10"'//'&'%1/(/)+"'3","60"'*)2'%"/4>22)*60"<'

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

H4&' %">./)+' #""' *6' (*-""' +"">")6-"' %1*65"' %1"3""$"1"' *)2'+"">/)6-"' 0"$/' //' ")' 0&' $//%"1")' 3","60"7' %/4>"%"' *)2' 3280"'+1"3+*4"'"1."'#""'*6'$"$"'+25%""<''

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

$'(!)*+,-./01/' 2134-/$56#7!89:;<=>?)$/$56#7!@)59AB?)$:8CD7E>/0)1,-)5"BDF-)FG)=@G0=@-GBE5)G#)G)$H=>?)$:$BF>$4- I)<)#5B:,>+,-:$J5:89DG6K)>5>G)?LM 2>N,F6OGB?)$&$'!:&*BDF>?P?)$?K)@>,:5*)?)$:$BF>I)<)#5B:,>#K)@$'!E>/0)1,-)5!(!"#)!@>'1#C7EK)#'D1=>?)$/$56#7!+,-.>!G)?'!!"#$%&Q!'!>B 2.*OGB"BD:5J!+R/S$,-5F

L-7:#>7L71?)$/$56#7!>B 2GB5'/H%&$O#1ESEC7!:8CD7:89DG&$O#9"A9I)8L71?)$;M?<):8CD7"BD6O#$- )1E%T#G!'/9"BD:&J >&$ONFU>SL' 2>8C 2>()>#K)@$'!E>/0)1,-)5=>?)$:L-):&J >#05>@>MD1L71#'1EG.*O#)G)$H:L-)#40=>/*),.$11)>+,-:$J5LM 2>!6)??)$/$56#7!GBL-7#$%&50)=@-GB?)$?K)@>,:5*):$BF>!EC7!

E>/0)1,-)5"BDF-)FG)=@G06O/-71:$9DG:$BF>!+.&!N,F+G0:?9>@>MD1&B @*'16)?5'>.$?"BDGB?)$*1"O:!BF>=>!#K)GON>&$OU)?$!RMD1=>?PL-7:,BF5?'>>B 26OGB$OFO:5*)=>?)$:$BF>$5G"' 21@G,+G0:?9>#71&B !.*O@)?GB?)$@F%,8'??)$:$BF>=>$O@50)1"BD:$BF>=@-=U-?P:?TVS:,BF5?'>?'!$O!!?)$;M?<)34-=@W07CD>X!!.*O+,-:#>750)#9"A9Y=>?)$:L-):$BF>I)<)#5B:,>#K)@$'!E>/0)1,-)56O@G,*1@*'16)?#BD&B !N,F>'!6)?5'>.$?"BDGB?)$*1"O:!BF>!

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

!!%

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

"

"

#K)GON>&$OU)?$"BD:";!)*!N,F=>$O@50)1"BD:$BF>#)G)$H?K)@>,50)6O:$BF>:$J5@$C7U-).*O$OFO:5*)"BD6O@F%,8'??)$:$BF>,-5F/'5:71+,-I)F=>:5*):$BF>"' 21@G,#BD&B !!?)$?K)@>,:5*):$BF>>B 2GB$4&.!!G)6)??)$&P9$4&.!!=@G0#K)@$'!E>/0)1,-)5!

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

/0)1,-)56O:$9DG/' 21./05'>"BD!/!G9H%>)F>!80;01222!:&J >/->+&!.*O6)??)$/$56#7!>B 2GBL-7:#>7.>O=@-!23-401531'!GB@>-)"BD=>?)$=@-EK)&$M?<)N,F"'D5+&#K)@$'!59AB"BD6O>K).3>1)>/0)1XG)=U-:&J >:E$CD71GC7=>?)$#7>:&J >$)F!%EE*G)?UM 2>!>7?6)?>B 2F'1:&J >:$CD71#K)E'W#K)@$'!E$4"BD6O/9,/)GE5)GEC!@>-)L71?)$:$BF>:8CD7=@->'?:$BF>"%?E>#)G)$H&$O#!3*,-)>?)$:$BF>"BD,B"BD#%,:"0)"BD:&J >+&+,-N,F6O/-71GB?

!+%

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

"

"

!,%

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

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

!"#$%&'()*%%(%&'(+,(-./#*.'(*($0+%%&'1.(2345467448(

!"#$%&'()*+,#&-.#$/-*$*+#0%1*()*-.(221%&'*3456578559**!"#$* 1::* 44*.1;<* 6=*(>?* 6@*AA* -1):* 48*.1;<* 64*A* -.1*?1* +,2B1'C&*

2DC&2-&E**!"#$*1::*C&:* $* 21%&'*-.1*$'+,#1-*&'*'D*;1#1%#1+E*44*.1;<*6F*1*AE*1/*

+,2B1'C&*2DC&2-&<***

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

""!#$%&!6F*1*A*

* 0*+ 1")$2*+ 3()+ )455+ (55+ !"#5(+ 6+&576#!*6*/+6+$'"*$8(+9.)+6*'(*!)()"+&*!")+ $(::(*#(/5+ 3./$5+ 5';+ ;)<+=576#!*6*/"*+ 9;)+ 1;7.)>($+ $"*($5+6*2:+ "55+ ;)+ 9);*+ !"*+ !(/+ !;+1")$2*"*+ 9.)$5(+ /;*/"*+ 92#8728?9.)!"$+ 6+ "*+ 82::&*<+ @455"*+ (55+!"#5(+ 6+ &576#!*6*/"*+ &113.)+ 3"#5+9,)(+;)+"95")+!"*+!(/+!;+1")$2*"*+9.)$5(+ /;*/"*+ 92#87289.)!"$+ 6+ "*+82::&*<+

*6=*A*

G&'*-()*?1#*1':1%$:-*:$22*&'*.H#-*?1#*#"::*1::*+H22+,2B1*.H#-&'<** A&'&!:(**"*+ $8(+ !2B8+

7"$#&5(+(55+&576#!*6*/"*+1;+8&)$"*+$8(+&113.)(+*4)+ "#"'"*+!"#5(/65+ 6+&576#!*6*/"*+ &*!")+ $(::(*#(/5+

9:*

!"#;&)).*.'$;"#$%&'( <=>(345565?(

(

(

5';+;)+ "##")+ "95")+ 9,)(+;)+ 9);*+!"*+!(/+"#"'"*+9.)$5(+/;*/"*+92#8728?9.)!"$+6+"*+82::&*<+

!H/HC)1''&'*+0#*!2B8*I&-2H:1*1::* H:I$2C'$'%&'* ;0* .H#-&'* -.1*H;;?,#1E* ()* &2&/&'* -1.'1#* +,#JH:-"::'$'%1#* 1::* :$22%(C(%,#1* -$%*H:I$2C'$'%&'*&22&#* 1''1#-* $':&* %,#*:$22+#&C--:"221'C&*+#1)-:&%<*

A&'&!:(**"*+9;)*"/&'*7"$#&5(+(55+ &576#!*6*/"*+ 1;+ 8&)$"*+ $8(+&113.)(C+ 2:+ "#"'"*+ $(8*()+ 9.)?&5$455*6*/()+ (55+ 56##/2!2/.)(+ $6/+&576#!*6*/"*+"##")+(**()$+6*5"+/.)+56##9)"!$$54##(*!"+9)(:$5"/<+

K:I$2C'$'%&'* +0#* 1/I#D:1-* "/&'* &'2$%:* I&-:"))&2-&#'1* $* L*.1;<*6@M45*AA<*

6@*A*G&'* +,#* /$2.&'* H:I$2C'$'%&'*

?1#* H;;?,#:* &'2$%:* 6=*A* 1'C#1*-:D>.&:*&22&#*-()*+#$/$22$%:*1/I#H:$:*H:I$2C'$'%&'*-.1*;0*'D::*I&#&C1-*-0C1'* H:I$2C'$'%* ()* C&:* +$''-*-"#-.$2C1*-."2*+,#*C&:<*

G&'* +,#* /$2.&'* H:I$2C'$'%&'*?1#* H;;?,#:* &'2$%:* 6=*A* 1'C#1*"##")+ 5)"!>"* -:D>.&:* 9;)* ;0* 'D::*I&#&C1-*-0C1'*H:I$2C'$'%*()*C&:*+$''-*-"#-.$2C1*-."2*+,#*C&:<*

*"'!#$%&!64*A*

N&-2H:* 1/* &'* .())H'* &22&#* &::* 21'C-:$'%* +0#* ,/&#.21%1-* ?(-*O.(2/"-&'C&:-*,/&#.21%1'C&'")'C*$*+#0%1*()*

6<*I1#'-*)(::1%1'C&*$*%#H'C-"#-.(21'*&'2$%:*@*.1;<*L*AE*4<*H;;-.BH:&'*-.(2;2$.:*&'2$%:*@*.1;<*65*A*1'C#1*-:D>.&:E*P<*-.(2;2$.:&'-* +,#2"'%'$'%* &'2$%:* @*.1;<* 6P*A* &22&#* -.(2;2$.:&'-*

H;;?,#1'C&*&'2$%:*@*.1;<*6F*AE*F<*)(::1%1'C&* 1/* &'* &2&/* +#0'* &'* 1''1'* .())H'* &'2$%:* Q*.1;<*

6P*AE*65*.1;<*4L*A*&22&#*66*.1;<*4L*AE*L<*0:%"#C&#*&'2$%:*65*.1;<*4Q*A*:#&CB&*-:D>.&:*+,#*&'*&2&/*-()*$':&*

I(#*?&))1E*=<*;21>&#$'%*/$C*&'*1''1'*-.(2&'?&:*"'*C&'*/0#C'1C-?1/1#&*,'-.1#*

&'2$%:*Q*.1;<*6L*A*1'C#1*-:D>.&:E*65*.1;<*P5*A*1'C#1*-:D>.&:E*66*.1;<*4Q*A*1'C#1*-:D>.&:*&22&#*6Q*.1;<*6Q*A*1'C#1*-:D>.&:E*

@<*I&?,#$%?&:*&22&#*)(::1%1'C&* $* +,#-:1*?1'C*&'2$%:*6=*.1;<*P=*A*&22&#*)(::1%1'C&* &'2$%:* 6@*.1;<* 6F*A* '"#* C&:* %"22&#* &'* H:I$2C'$'%* $*%D)'1-$&-.(21'*-()*H:+(#)1:-*+,#*&'*%#H;;*&2&/&#E*

8<*:$22?,#$%?&:*:$22*)02%#H;;&'*+,#*%D)'1-$&-"#-.(21'*&'2$%:*68*.1;<*8*A*1'C#1*-:D>.&:E*

Q<*)(::1%1'C&* :$22*.())H'12*/HR&'H:I$2C'$'%*&'2$%:*45*.1;<*6P*AE*6F*A* 1'C#1* -:D>.&:* &22&#* 44*AE* :$22* -"#-.$2C*H:I$2C'$'%* +,#* /HR'1* &'2$%:*

97*

<=>(345565?( !"#;&)).*.'$;"#$%&'(

(

(

9?*

46**.1;<*@*A*:#&CB&*-:D>.&:*&22&#*:$22*H:I$2C'$'%*$*-/&'-.1*+,#*$'/1'C#1#&*&'2$%:*44*.1;<*6L*AE*

65<* H;;?,#1'C&* 1/* H:I$2CJ'$'%&'* +,#* &'* &2&/* $* .())H'12*/HR&'H:I$2C'$'%*&'2$%:*45*.1;<*Q*A*1'C#1* -:D>.&:E* $* -"#-.$2C* H:I$2CJ'$'%*+,#*/HR'1*&'2$%:*46*.1;<*Q*A*1'C#1*-:D>.&:*&22&#*$*H:I$2C'$'%*$*-/&'-.1* +,#* $'/1'C#1#&* &'2$%:*44*.1;<*6=*A*1'C#1*-:D>.&:E*

65<* H;;?,#1'C&* 1/* H:I$2CJ'$'%&'* +,#* &'* &2&/* $* .())H'12*/HR&'H:I$2C'$'%*&'2$%:*45*.1;<*Q*A*1'C#1* -:D>.&:E* $* -"#-.$2C* H:I$2CJ'$'%*+,#*/HR'1*&'2$%:*46*.1;<*Q*A*1'C#1*-:D>.&:*&22&#*$*H:I$2C'$'%*$*-/&'-.1* +,#* $'/1'C#1#&* &'2$%:*44*.1;<* 6=*A* (*!)(* "##")* 5)"!>"*-:D>.&:E*

66<*1::*;0*'D::*I&#&C1*.())H'12*/HR&'H:I$2C'$'%*&'2$%:*45*.1;<*Q*A* :#&CB&* -:D>.&:E* -"#-.$2C* H:I$2C'$'%* +,#* /HR'1* &'2$%:* 46*.1;<* Q*A*:#&CB&* -:D>.&:* &22&#* H:I$2C'$'%* $* -/&'-.1* +,#* $'/1'C#1#&* &'2$%:*44*.1;<*6@*AE*

64<*0:1%1'C&* ()* $':&#.())H'12* &#-"::'$'%* &'2$%:* 45*.1;<* 46*A*:#&CB&*-:D>.&:E*&22&#*

6P<*#"::* :$22* H:I$2C'$'%* &22&#* 1''1'* /&#.-1)?&:* +,#* '0%('* -()*1/-&-*$*4Q*.1;<*4*A*1'C#1*-:D>.&:*P<*

N&-2H:* -()* 1/-&-* $* +,#-:1* -:D>.&:* 6E* F* (>?* @M64* +0#* ,/&#.21%1-*&'C1-:*1/*I1#'&:E*&2&/&'*&22&#*C&'*-,.1'C&<************************

6<*G&''1*21%*:#"C&#*$*.#1+:*C&'*6*BH2$*4564<*4<*S,#*&'*;&#-('*-()*+,#-:1*%0'%&'*+(2.I(.+,#:-* $*&'*.())H'*

+,#&*C&'*6*BH2$*4564*)&'*$':&*:$C$%1#&*C&2:1%$:*$*-/&'-.H'C&#/$-'$'%*+,#* $'/1'C#1#&* H;;?,#* #"::&'* 1::* C&2:1* $* H:I$2C'$'%* $* -/&'-.1* +,#*$'/1'C#1#&*C&'*6* BH2$*456P<*T)*;&#-('&'* +,#&*C&'*6* BH2$*4564*?1#*C&2:1%$:*$*-/&'-.H'C&#/$-'$'%*+,#*$'/1'C#1#&*H;;?,#*#"::&'*1::*C&2:1*$*H:I$2C'$'%*$*-/&'-.1*+,#*$'/1'C#1#&*C&'*6*BH2$*456L<**

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

!"#$%& '($%)&#$*$""+$%&,)%&-+& +&.-$%+/$&-)%+0&1$#-$0")&21&34%56$03&7$08#$(3$& '9%& +"-)"#%)%$3& $0)7($%+"/& 2*,& +"0$/%)0+2":& ;-$"& 21&<"#$%-+3"+"/$"&-)%+0&<0'2%1)#&45&2(+6)&3=00&9-$%&5%$"&,)%&#$0&="#)&3$#)"&1+00$"&)-&>?@AB0)($0&'<""+03&19C(+/,$0$%&0+((&)-/+'03'%+&<"#$%B-+3"+"/&+&3-$"36)&34%56$0:&D17+0+2"$%")&)00&/$&#$1&321&+"-)"#%)0&309#&'9%&3+"&$0)7($%+"/&2*,&+"0$/%)0+2"&,)%&)((035&(="/$&-)%+0&,9/):&

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

I1&#$&'9%3()/&-+&(=//$%&+&#$"")&<0%$#"+"/&'9%-$%6(+/)3J&2*,&21&#$&7$#91"+"/)%& -+& /9%& 0)3& 45& )((-)%J& 6)"& $"&#$(& )-& #$&,9/)& )17+B0+2"$%& 321& '+""3& '9%& +"-)"#%)%$3& +"0$/%)0+2"J& +"'%+)3:& K5%)& '9%3()/&2*,& 7$#91"+"/)%& -+3)%& )00& #$0& ,)"#()%& 21& $"& ,$(& #$(& 1$%& ="& )00&3=00)&/%="3$%&'9%&0+#$"&'9%&<07+(#"+"/$":&H$0&,)"#()%&2*635&21&'9%B7=00%+"/)%&)-&<07+(#"+"/$"&321&/$%&19C(+/,$0$%&0+((&3")77&2*,&'($G+7$(&+"(=%"+"/:&

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

E"(+/0& #+%$60+-$"& 0+((& <0%$#"+"/$"& 21& 0+#37$/%="3"+"/& +& 3-$"36B<"#$%-+3"+"/&'9%&+"-)"#%)%$&L#+%:&MAA?NA?O>&36)&<0%$#"+"/$"&<"#$%B396)&,<%&'($%&"8)"(="#)&+"-)"#%)%$&36)&6<"")&(=%)&3+/&3-$"36)&3")77)%$&

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&>&H+%$60+-J&7+()/)&>:&

& & ,!+

-.+/$$%&'()*+012+'&3)*)*+.)%+/$$%&'()*+ 4-#+56!!7!8+

+

+

/$"21& )00& %$/($%")& ="#%)3& '9%& <"#$%& ,<%& (5"/& 0+#& #$0& =%&19C(+/0& )00&#$(0)& +&3-$"36<"#$%-+3"+"/&'9%&+"-)"#%)%$&L3'+O:&H$&'9%3()/&321&0)3&'%)1& 36)& 38'0)& 0+((& )00& $''$60+-+3$%)& <07+(#"+"/$"& 2*,& 36)4)& 7=00%$&'9%<03=00"+"/)%& '9%& +"-)"#%)%$& )00& 6<"")& $0)7($%)& 3+/& 3")77)%$& 45&)%7$031)%6")#$"& 2*,& +"0$/%$%)& 3+/& +& 3)1,=(($0:& !44#%)/$0& 38'0)%&)((035&+"0$&0+((&)00&<0%$#)&21&<0)"&!"#&$"&0+#37$/%="3"+"/&36)&<0'2%1)3:&

P& <44#%)/$0& +"/5%& )00& '9%$3(5& ,<%& $"& 0+#37$/%="3"+"/& )-& 3'+& 36)&<0'2%1)3& 3)10& 3$& "=%1)%$& 45& 62"3$6-$"3$%")& )-& $"& 0+#37$/%="3B"+"/:&!0%$#"+"/$"&36)&=-$"&7$#91)&,<%&$"& 0+#37$/%="3"+"/&)-& 3'+&6)"& 45-$%6)& <07+(#"+"/$"3& /$"21'9%)"#$& 2*,& 21& <"#)"0)/&7$,9-$%& /9%)3& '9%& 4$%32"$%& 1$#& '<"60+2"3"$#3=00"+"/& 2*,& '9%& 4$%B32"$%&1$#&(=3B&2*,&36%+-3-5%+/,$0$%:&

K+#)%$& +"/5%& +& <44#%)/$0& )00& 3$& ,<%& $"& 0+#37$/%="3"+"/& 6)"&45-$%6)&6<%34()"$"& +& =1"$0& 3-$"36)& 321&)"#%)34%56& +"21&/%<"#B(=//)"#$&6211<")(& -<G$"<07+(#"+"/&L621-<GO& 3)10&-<G$"<07+(#B"+"/&'9%&<0-$*6(+"/3309%#)&L3=%-<GO:&P&<44#%)/$0& +"/5%&2*635&)00&3$&-+(6)&#$&$62"21+36)&62"3$6-$"3$%")&)-&$"&0+#37$/%="3"+"/&7(+%&'9%&30)0&%$34$60+-$&6211<":&

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

F%203&'($%)&%$'2%1$%&9-$%&5%$"&,)%&/$"2130%91"+"/$"& +&<07+(#B"+"/$"&2*,&#$&30<#$%)"#$3&%$3<(0)0&+"0$&7(+-+0&7=00%$:&Q($%)&$G$14$(&/$3&45&#$00)& +&#+%$60+-$":&H$"&7+(#&)-&3+0<)0+2"$"&321&0$*6")3&#=%&,)%& 309#& )-& 6<"36)4$%& 2*,& $%')%$",$0$%& 321& '<""+03& 3$#)"& (="/$&2*,&321&-+3)%&)00& 3'+& +"0$& '<"/$%)%&321&1)"&36<(($&9"36):&H$0& 0)%&,$(0&$"6$(0&'9%&(5"/&0+#&)00&36)'')&3+/&/%<"#(=//)"#$&6<"36)4$%&+&#$0&3-$"36)&34%56$0:&

!"5 9/&+:;+'&3)*'*+.)%+/$$%&'()*+

D%7$0$0&1$#&<0%$#"+"/$"&4579%C)#$3& +& '$7%<)%+&MA>A:&E'0$%&$"& 0+#3&)%7$0$&302#&#$0&6()%0&'9%&233&)00&$00&'9%3()/&0+((&0+#37$/%="3"+"/&+"0$&6<"#$& (=//)3& <0)"& )00& -+& '+*6& 1$%& 0+#& )00& "=%1)%$& 30<#$%)& 35-=(&62"3$6-$"3$%")&)-&$"&0+#37$/%="3"+"/&321&-)#&321&7$,9-3&'9%&)00&

,5&

4-#+56!!7!8+ -.+/$$%&'()*+012+'&3)*)*+.)%+/$$%&'()*+

+

+

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&

$"&0+#37$/%="3"+"/&36)&'<"/$%)&45&$00&35&7%)&3=00&321&19C(+/0:&H$00)&($##$&0+((&)00&-+& '+*6&'9%(="/#&0+#&'9%&)%7$0$0&1$#&0%$&15")#$%:M&E"&0+#&321&-+&,)%&)"-="0&'9%&)00&"=%1)%$&)")(83$%)&-)#&321&7$,9-3&2*,&-)#&321&1530$&7$)60)3&-+#&$"&0+#37$/%="3"+"/:&

R8*6$0&3")%0&6<"#$&-+&62"30)0$%)&)00&#$&%)442%0$%&2*,&<0-=%#$%B+"/)%&321&/C2%03&<"#$%&3$")%$&5%&+"0$&-)%&$00&0+((%=*6(+/0&<"#$%()/&'9%&)00&<0'2%1)& $00& '9%3()/& 0+((& ,<%& 3'+& 36<(($& 6<"")& 0+#37$/%="3)3:& S$'+"0(+/&#26<1$"0)0+2"&+&'2%1&)-&<0%$#"+"/)%J&<0-=%#$%+"/)%J&'2%36"+"/&1:1:J&7$,9-#$& 6214($00$%)3& 1$#& 6<"36)4$%& )-& )"")0& 3()/:& T<"36)4$%&321&1530$&+",=10)3&1$#&,C=(4&)-&7()"#&)"")0&$"6=0$%J&30)0+30+6&2*,&30<#+$7$396:&

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

Q9%&)00&-+#/)&-5%)&-8$%&2*,&0)&#$(&)-&)"#%)& (="#$%3&$%')%$",$0$%&2*,& 6<"36)4$%& "=%& #$0& /=(($%& +"-)"#%)%$3& 34%56+"(=%"+"/& ,)%& -+&2*635& /C2%0& 30<#+$7$396& +& W2%/$& 2*,& H)"1)%6:&R$#& ,C=(4& )-& #$&

&M&F+((=//3#+%$60+-J&7+()/)&M:&

,<&

-.+/$$%&'()*+012+'&3)*)*+.)%+/$$%&'()*+ 4-#+56!!7!8+

+

+

3-$"36)& )17)33)#$%")& +& E!B(="#$%")& ,)%& -+& =-$"& /$"21& $"& $"6=0&36)'')0&233&6<"36)4$%&21&,<%&1203-)%+/,$0$"&0+((&3'+&3$%&<0&+&)"#%)&$<%24$+36)& (="#$%:& K+& ,)%& 2*635& 36+*6)0& $"& $"6=0& 1$#& '%5/2%& 21&0+#37$/%="3"+"/&0+((&(="3308%$(3$%")&3)10&'500&,C=(4&)-&.-$%+/$3&T21B1<"$%& 2*,& X)"#30+"/&1$#& $"& $"6=0& 0+((& 6211<"$%")& 21& 30<#+$B)-7%200:&

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

Q8%)& $G4$%0$%&2*,& '8%)& 3)66<""+/)&,)%& +"/500& +& <0%$#"+"/$":&K+&,)%& ,)'0& 3$G&190$"&1$#&#$33)& $G4$%0$%& 2*,& 3)66<""+/):&Q9%<021&)00& 7+#%)&1$#& 3+")& 6<"36)4$%& 45& -5%)&190$"J& ,)%& #$& 45& 2(+6)& 3=00&7+#%)/+0&1$#&38"4<"60$%&2*,&'9%3()/&<"#$%&,$()&)%7$034%2*$33$":&

K+& ,)%& 2*635& <03$00& $"& %$'$%$"3/%<44& 1$#& %$4%$3$"0)"0$%& '9%&4%+-)0)& 2*,& 2''$"0(+/)& 2%/)"+3)0+2"$%:& P& #$"")& %$'$%$"3/%<44& ,)%&'9%<021& $00& <%-)(& )-& #$& 6211<"$%& -+& /C2%0& 30<#+$7$396& +& 7()"#&)"")0&+"/500&'9%$0%=#)%$&'9%&.-$"360&W=%+"/3(+-J&.DYIJ&FYIJ&XIJ&Q2(6,=(32+"30+0<0$0J&Q9%3=6%+"/36)33)"J& .62(+"34$60+2"$"J&X$%"+)&2*,&Z)"#+3)1:& K+& ,)%& 0%='')0& %$'$%$"3/%<44$"& 0-5& /5"/$%& 2*,& +",=10)0&#$%)3&6<"36)4$%&2*,&38"4<"60$%:&

!"5"! =>(&'+3)(&)$$+

[+63#)/$"& 7$3(<0)#$& +& C<"+&MA>A& 21&#$"& "8)& 362(()/$"&LMA>AN\AAO&H$"")& ()/& 0%=##$& +& 6%)'0& #$"&>&)</<30+&MA>A&1$"& 36)& 0+((=14)3& 45&-<G$"<07+(#"+"/$"&'%5"&2*,&1$#&#$"&>&C<(+&MA>M:&P&#$"")&()/&780$%&362('2%1$"&3'+&")1"&0+((&<07+(#"+"/&+&3-$"36)&'9%&+"-)"#)%$&2*,&#$"&"<-)%)"#$&'9%62%0"+"/$"J&3'+J&,)%&+"0$&'9%30&+"&+&#$"&"8)&()/$":&;-$"&'9%62%0"+"/)%")&3=%-<G&2*,&621-<G&0)3&72%0:&P&-5%)&'9%3()/&<0/5%&-+&#=%'9%& '%5"& 7$/%$44$0& <07+(#"+"/& +& 3-$"36)& '9%& +"-)"#)%$:& P& 9-%+/&

,,&

4-#+56!!7!8+ -.+/$$%&'()*+012+'&3)*)*+.)%+/$$%&'()*+

+

+

,?&

0$G0&,)%&-+&#2*6&0)/+0&233&'%+,$0$"&)00&=-$"&'2%03=00"+"/3-+3&)"-="#)&233&)-&-$#$%0)/")&'9%62%0"+"/)%&321&0:$G:&3'+J&621-<G&2*,&3=%-<G:&

P& ()/0$G0$%&0)()%&1)"&21&$($-$%J&=-$"&21&#$0&,)"#()%&21&-<G")&4$%32"$%:& K+& ,)%& -)(0& )00& 6)(()& 4$%32"$%& 321& #$(0)%& +& <07+(#"+"/& +&3-$"36)&'9%&+"-)"#%)%$&'9%&#$(0)/)%$&$(($%&30<#$%)"#$:&

!"< 9/&+:;+@'(*+/$$+3)*ABC'B%)*+

E'0$%&#$00)&+"($#)"#$&6)4+0$(&79%C)%&-+&1$#&)00&+&6)4+0$(&M&4%$3$"0$%)&-5%0&'9%3()/&0+((&,<%&<07+(#"+"/$"&+&3-$"36)&'9%& +"-)"#%)%$&36)&0+#3B7$/%="3)3&2*,&-+(6)&-5%)&<0/5"/34<"60$%&0+((&#$00)&'9%3()/&=%:&

P&6)4+0$(&]&0)%&-+&<44&$00&)"0)(&2(+6)&')602%$%&321&1530$&7$)60)3&2*,&50/=%#)3&'9%&)00&$"&0+#37$/%="3"+"/&36)&'<"/$%)&75#$&<"#$%&#$"&0+#& $"& 4$%32"& #$(0)%& +& <07+(#"+"/$"& 2*,& $'0$%& <07+(#"+"/$":& F+#3B7$/%="3"+"/$"3& $62"21+36)& '9%<03=00"+"/)%& 2*,& -+(6)& #$& $62B"21+36)&62"3$6-$"3$%")&7(+%&'9%&30)0J&6211<"&2*,&+"#+-+#&0)3&<44&+&6)4+0$(&^:&

E"& #$(& )-& #$0& 7)6/%<"#1)0$%+)(& 2*,& <"#$%()/& 321& -)%+0& )-&7$08#$(3$& '9%&<0%$#"+"/3)%7$0$0&2*,&-5%)& '9%3()/&2*,&7$#91"+"/)%&%$#2-+3)3& +&6)4+0$(&U:&Z=%& '+""3&7()"#& )"")0&$"& 3<11$%+"/&)-&-5%)&30<#+$7$396&3)10&#$&$"6=0$%&-+&36+*6)0&<0:&P&7$0="6)"#$0&'+""3&2*635&'9%3()/& 0+((& '9%')00"+"/3="#%+"/)%:&Q9%')00"+"/3'9%3()/$"&=%& +"0$& 621B1$"0$%)#$& +& $00& 3=%36+(0& )-3"+00:&H$& 6211$"0$%)3& +& 30=(($0& +& #+%$60&)"3(<0"+"/&0+((&)00&-+&4%$3$"0$%)%&-5%)&'9%3()/:&&

!"!

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

2*(30(%4205*.$)678)2*96$:0+0()

"#$!%&&%!'(%'&)'*%!+',%'*$%$-!)$!./$01-2!%,!%,3#$%'*-!4-2(*-&.-!5#$!6#7&+38-2-$'%! %22! 19''%! 50! %$4-2-! :;8! 4&+! *-&%12+3! +! *-2! .,-'.1%!.%68)&&-2<!=-22%!)$!'03:2!.:6!8%$!%,./-3&%2.!+!*-'!.,-'.1%!+'2-3$%>2+:'./:&+2+1-'! .-*%'! *-;-''+-$<! =-'! 5#$.2%! 9'*-$,+.'+'3-'! +!.,-'.1%! 5#$! +',%'*$%$-! .2%$2%*-! +! 5:$6! %,! -'! 5#$.#1.,-$1.%68-2!$-*%'! ?@AB<! C,-'! :6!60'3%! 5#$)'*$+'3%$! %,! 9'*-$,+.'+'3-'! 8%$!.1-22!.-*%'!*-..!.0!8%$!*-'!3$9'*&)33%'*-!9'*-$,+.'+'3-'!+!.,-'.1%!5#$!+',%'*$%$-D!*-2!.:6!+!60'3%!0$!8%$!1%&&%2.!.5+D!8-&%!2+*-'!,%$+2!-'!;-'2$%&!*-&!%,!+'2-3$%2+:'./:&+2+1-'<!

E! +'2-3$%2+:'./:&+2+1-'!/:)'32-$%.!,+12-'!%,!023)$*-$!9'*-$!*-'!5#$.2%!2+*-'!+!F,-$+3-!:;8!%22!*-2!)$!.)$.1+&2!,+12+32!%22!-$479*%!'(%'>&)'*%! +',%'*$%$-! 924+&*'+'3! +! .,-'.1%! .0! .'%$2! .:6! 6#7&+32<!G230'3./9'12-'! )$! %22! 3-! %&&%! '(%'&)'*%! -'! 4$%! .2%$2! +! F,-$+3-D!,+&1-2!+''-4)$!%22!6%'!40*-!.1%!-$479*%.!:;8!2%!*-&!%,!./$019'*-$>,+.'+'3!.0!2+*+32!.:6!6#7&+32D!:%,.-22!/0!,+&1-'!3$9'*!6%'!5022!.+22!9//-80&&.2+&&.20'*<!

F-*%'!60'3%!0$!8%$!*-2!59''+2.!.)$.1+&*%!.2#*!:;8!023)$*-$!$+12%*-!2+&&! *-6! .:6! 5022! .2%''%! %,! 5&(12+'3.1)&! :;8! ,+..%! ')$%! %'8#$+3%! 2+&&!*-..%<!H)$!*-2!3)&&-$!*-'!3$9//-'D!*-'!.<1<!5&(12+'33$9//-'D!3-':6>5#$*-.! -'! '(! $-5:$6!*-'! ?! *-;-64-$! IJ?J<! !=-''%! $-5:$6!1%&&%.!-2%4&-$+'3.$-5:$6-'!:;8!*-'!.(52%$!2+&&!%22!9'*-$&)22%!:;8!/0.1('*%!'(%'&)'*%! 5&(12+'3%$.! -2%4&-$+'3! +! %$4-2.>! :;8! .%68)&&.&+,-2<! KL-$!:6!-2%4&-$+'3.$-5:$6-'D!.-!1%/<!BM<!

N+! 8%$! %,! 5&-$%! .1)&! ,%&2! %22! 9230! 5$0'! -2%4&-$+'3.$-5:$6-'! ,+*!925:$6%'*-2!%,!,0$2!5#$.&%3!2+&&!2+*.4-3$)'.'+'3!%,!.5+D!2$:2.!%22!60&>3$9//-'!5#$!.5+!)$!4-2(*&+32!.2#$$-!)'!*-'!.:6!:65%22%.!%,!-2%4&-$>+'3.$-5:$6-'<!=-2!89,9*.%1&+3%!.1)&-2!)$!%22!.5+! +'30$!.:6!-'!*-&! +!*-'!-2%4&-$+'3./&%'!.:6!*-'!'(%'&)'*%!8%$!$)22!%22!50D!-'&+32!&%3-'!KIJ?JO?@PM! :6! -2%4&-$+'3.+'.%2.-$! 5#$! ,+..%! '(%'&)'*%! +',%'*$%$-<!N+!6-'%$!%22!*-2!)$!,+12+32!%22!+'2-!1:'.2$9-$%!(22-$&+3%$-!-22!.(.2-6!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

!D!

.:6! 1:6/&+;-$%$! +'2-'2+:'-$'%!6-*! *-'! '(%! -2%4&-$+'3.$-5:$6-'!:;8! .:6! *-..92:6! .19&&-! 19''%!6-*5#$%! -22! %*6+'+.2$%2+,2! 6-$>%$4-2-<!=-!%64+2+:'-$!:6!%22!9'*-$&)22%!:;8!/0.1('*%!,+..%!'(%'>&)'*%! +',%'*$%$-.!-2%4&-$+'3!+!%$4-2.&+,!:;8!.%68)&&.&+,D!.:6!1:66-$!2+&&! 922$(;1! +! *-'! /$:/:.+2+:'! .:6! &+33-$! 2+&&! 3$9'*! 5#$! -2%4&-$+'3.>$-5:$6-'!K/$:/<!IJJ@Q?JOAJMD!4-*#6-$!,+!*-..92:6!&+33%!,)&!+!&+'7-!6-*!,%*!.:6!3)&&-$!5#$!.%62&+3%!.5+>*-&2%3%$-<!!

E'2-3$%2+:'./:&+2+1-'!)$!/0!5&-$%!.)22!,+12+3!5#$!F,-$+3-.!92,-;1>&+'3<!=-'! /030-'*-! 3&:4%&+.-$+'3-'! #1%$! .2)'*+32! .%6%$4-2-2! #,-$!3$)'.-$'%! :;8! 1:'2%12(2:$! 6-*! :6,)$&*-'! )$! %,! .2:$! 4-2(*-&.-D!+'2-!6+'.2! 9$! -22! 2+&&,)R2/-$./-12+,<! F/$01924+&*'+'3! 8%'*&%$! %&&2.0!+'2-!-'4%$2!:6!%22!3-!924+&*'+'3.6#7&+38-2-$!5#$!*-'!.:6!4-8#,-$!19''%!.,-'.1%!5#$!%22!+'2-3$-$%!.+3!+!*-2!.,-'.1%!.%68)&&-2!:;8!8+22%!,)3%$!2+&&!.+'!-3-'!5#$.#$7'+'3D!92%'!1%'!:;1.0!.-.!.:6!-'!&0'3.+12+3!.%2.'+'3!5#$!%22!.2)$1%!F,-$+3-.!+'2-$'%2+:'-&&%!1:'19$$-'.1$%52<!"#$!%22!19''%!2%!2+&&,%$%!/:2-'2+%&-'!+!*-'!%$4-2.1$%52!.:6!1:66-$!6-*!+',%'*$+'3-'!)$!*-2!,+12+32!%22!.0!60'3%!.:6!6#7&+32!.0!.'%442!.:6!6#7&+32!&)$!.+3!.,-'.1%<!!

S+&&!.1+&&'%*!5$0'!,%*!.:6!3)&&-$!+!5&-$%!%'*$%!-9$:/-+.1%!&)'*-$!)$!./$0119'.1%/-$! +'2-! 1://&%*-! 2+&&! +',%'*$+'3.$-3&-$'%! +! F,-$+3-<! E!F,-$+3-! 8%$! ,+! -R-6/-&,+.! +'3%! 4-.2)66-&.-$! .:6! .)3-$! %22! 6%'!60.2-! 1&%$%! %,! -22! ./$012-.2! 5#$! %22! 50!6-*4:$3%$.1%/! -&&-$! 9//->80&&.2+&&.20'*D! ,+&1-2! )$! 5%&&-2! +! -22! %'2%&! -9$:/-+.1%! &)'*-$<! E! *-..%!&)'*-$! .1%/%.! 2(*&+3%! +';+2%6-'2! 5#$! '(%'&)'*%! +',%'*$%$-! %22! &)$%!.+3!*-2!'(%!./$01-2!.0!.'%442!.:6!6#7&+32<!T52-$.:6!$-3&-$'%!5#$!9//->80&&.2+&&.20'*!:;8!6-*4:$3%$.1%/!.-$!%'':$&9'*%!92!+!F,-$+3-!60.2-!,0$!9230'3./9'12!5#$!-'!2+*.4-3$)'.'+'3!,%$%!%,!-22!%''%2!.&%3<!!

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

G'*-$! %$4-2-2.! 30'3! 8%$! ,+! 4&+,+2! #,-$2(3%*-! :6! %22! -'! 2+*.>4-3$)'.'+'3!1%'!.1%/%!+';+2%6-'2!5#$!-'!-55-12+,%$-!924+&*'+'3!:;8!4+*$%! 2+&&! -'! #1%*! 3-':6.2$#6'+'3<! =-22%! 1$),-$! -6-&&-$2+*! 5&-$%!5#$)'*$+'3%$!40*-!%,!.5+!:;8!+':6!:6$0*-'!.:6!&+33-$!92%'5#$!.5+D!2<-R<!+':6!*-'!#,$+3%!,9R-'924+&*'+'3-'!:;8!+':6!V$4-2.5#$6-*>

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

!C!

&+'3-'.! ,-$1.%68-2.:6$0*-<!N+*%$-! 4-8#,-$! 9'*-$,+.'+'3-'! 3#$%.!6-$!5&-R+4-&!.0!%22!*-2!+!8#3$-!3$%*!30$!%22!1:64+'-$%!.5+!6-*!2<-R<!5#$,)$,.%$4-2-! :;8! 5#$)&*$%&-*+38-2<! G'*-$,+.'+'3-'! 60.2-! *-..>92:6!+!8#3$-!3$%*!%'/%..%.!5#$!/-$.:'-$!6-*!59'12+:'.'-*.)22'+'3!:;8!),-'! 5#$! %'%&5%4-2-$<!T'! 2+*.4-3$)'.'+'3! .2)&&-$!:;1.0!1$%,!/0!-'! 59'3-$%'*-! .%6,-$1%'!6-&&%'! :&+1%! %12#$-$<!L-$! :6! ,%*! .:6!1$),.!5#$!%22!-'!2+*.4-3$)'.'+'3!.1%!59'3-$%!2%$!,+!9//!+!1%/<!W<!

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

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

"#$!%22!50!-'!#1%*!3-':6.2$#6'+'3!+!924+&*'+'3-'!60.2-!%,4$:22-'!6+'.1%<!N+!%'.-$!-6-&&-$2+*!%22!%,4$:22!4#$!19''%!3#$%.D!6-'!-'*%.2!+!4-3$)'.%*!:65%22'+'3<!C,-'!8)$!9230$!,+D!4&%'*!%''%2!%,!/$%12+.1%!:;8!%*6+'+.2$%2+,%!.1)&D!5$0'!89$!-2%4&-$+'3.$-5:$6-'!)$!925:$6%*<!=-!.:6!:65%22%.!%,!-2%4&-$+'3.$-5:$6-'!1%'!3#$%!%,4$:22!/0!6%R+>

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

E@!

6%&2! -22! 0$<! N+!6-'%$! %22! *-2! )$! -'! 4$%! 9230'3./9'12! 5#$! +! ,+&1-'!:65%22'+'3!6%'!.1%!19''%!3#$%!%,4$:22<!!

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

?FA >+.,'-1,1)/1*54.$%G(&*,17;*/++*4%*

-%&'()*O!• G24+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!50$!/04#$7%.!.-'%.2!+':6!

-22!0$!5$0'!*-2!%22!-'!/-$.:'!5#$.2%!30'3-'!5:&14:15#$*-.!+!-'!1:669'<!

!T'&+32!.1:&&%3-'!KIJ?JOYJJM!.1%!924+&*'+'3-'!+!.,-'.1%!5#$!+',%'*$>%$-!5+''%.!%22!2+&&30!.0!.'%$2!.:6!6#7&+32!-52-$!*-2!%22!$)22-'!+'2$)22<!Z6!*-2! +'2-! 5+''.!.)$.1+&*%! .1)&D! .1%!924+&*'+'3-'!19''%!/04#$7%.!+':6!2$-!60'%*-$<!"#$!*-6!.:6!:65%22%.!%,!-2%4&-$+'3.&%3-'!+'30$!.5+! .:6!-'! ;-'2$%&! *-&! +! -2%4&-$+'3.+'.%2.-$'%<!T'&+32! 5#$:$*'+'3-'!KIJ?JO[J@M! :6! -2%4&-$+'3..%62%&! :;8! -2%4&-$+'3.+'.%2.-$! 5#$! ,+..%!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

EA!

'(%'&)'*%!+',%'*$%$-!.1%!V$4-2.5#$6-*&+'3-'!9//$)22%!-'!-2%4&-$>+'3./&%'!5#$!*-'!'(%'&)'*-!+':6!2,0!60'%*-$<!

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

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

E?!

.//#0&#1&#+,#&2"(2*#/23'*&1,'#$%&#'/)&/+,#40#5/62(3,2,*+,#

F2%2+.2+1!5$0'!F1:&,-$1-2!,+.%$!%22!*-!%&&$%!5&-.2%!*-&2%3%$-!.:6!/04#$7%2!.5+! 8%$! 37:$2! *-2! +':6! -22! 0$! 5$0'! *-2! %22! *-! 5#$.2%! 30'3-'! 5:&1>4:15#$*-.!+!-'!1:669'<!E!3-':6.'+22!8%*-!YA!/$:;-'2!%,!6)''-'!:;8! Y?! /$:;-'2! %,! 1,+'':$'%! .:6! /04#$7%2! .5+! 9'*-$! /-$+:*-'!IJJJ]IJJ@!37:$2!*-2!+':6!-22!0$!5$0'!5#$.2%!5:&14:15#$+'3.*%296<!!

Tabell 2.1 Andel deltagare som påbörjat sfi åren 2000-20097

Andel män resp. kvinnor som påbörjat sfi inom ett år från det att de folkbokfördes första gången i en kommun

År Andel män Andel kvinnor

2000 88 % 82 %

2001 84 % 75 %

2002 86 % 79 %

2003 85 % 80 %

2004 85% 81 %

2005 87 % 82 %

2006 91 % 85 %

2007 88 % 82 %

2008 83 % 81%

2009I 80 % 83 %

Totalt 86 % 81 %

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

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

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!?!_$!IJJ@! +'30$! -'*%.2! .29*-$%'*-!.:6!/04#$7%*-!.+'!924+&*'+'3!9'*-$! 5#$.2%!8%&,0$-2D!*,.<!.-'%.2!79'+!IJJA<!I!T'*%.2!.29*-$%'*-!6-*!9//3+52!:6!5#$.2%!5:&14:15#$+'3.*%3-'<!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

EH!

=-2! 5%1296! %22! -'! /-$.:'! %,! :&+1%! %'&-*'+'3%$! 1%'! 8%! 6+..%2!-&&-$! %,.2022! 5$0'! -22! -$479*%'*-2! :6! %22! &).%! .,-'.1%! +':6! .5+!4-8#,-$!+'2-!+''-4)$%!%22!6#7&+38-2-$'%!%22!&)$%!.+3!.,-'.1%!8%$!3022!5#$&:$%*-<!=-2! )$!6#7&+32! %22! &)$%! .+3! .,-'.1%! 40*-! +':6!,9R-'92>4+&*'+'3-'!:;8!3-':6!.29*+-5#$49'*<!T'!/-$.:'!.:6!)$!+'2$-..-$%*!%,!%22!&)$%!.+3!.,-'.1%!-52-$!%22!*-2!5#$.2%!0$-2!8%$!5#$5&92+2!8%$!.0&-*-.!6#7&+38-2-$!%22!3#$%!*-2!/0!%'*$%!.)22<!!

=-2!)$!(22-$.2!%'3-&)3-2!%22!-'!1:669'!+'2-!-$479*-$!.5+!')$!-'!/-$.:'.! $)22! %22! %'2%.! 2+&&!924+&*'+'3-'!8%$!9//8#$2<!V''%$.! .19&&-!-'!2+*.4-3$)'.'+'3!%,!.5+!4&+!8-&2!,-$1'+'3.&#.<!F:6!2+*+3%$-!')6'2.!5+''.!*-2!:&+1%!%&2-$'%2+,! 5#$!-'!/-$.:'!.:6!+'2-!8%$!19''%2!/04#$7%!924+&*'+'3-'! +':6! -22! 0$<! T'! 1:669'! 1%'! :;1.0! 9//8%'*&%!924+&*'+'3%$!.:6!/0!:&+1%!.)22!3-$!19'.1%/-$!+!.,-'.1%!./$01-2<!!

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

L%'!1%'!-6-&&-$2+*!+'2-!92-.&92%!%22!-'!2+*+3%$-!.2%$2!+'&-*'+'3.>,+.!1%'!1:66%!%22!+''-4)$%!%22!,+..%!1,+'':$!8-&2!-'1-&2!+'2-!8+''-$!/04#$7%! 924+&*'+'3-'<! =-2! 5+''.! *)$5#$! %'&-*'+'3! %22! ,+*! 9//5#&7>'+'3-'! %,! *-'! 5#$-.&%3'%! $-5:$6-'! .)$.1+&2! 5#&7%! 92,-;1&+'3-'! 5#$!5#$)&*$%&-*+3%!1,+'':$<!=-2.%66%!3)&&-$!5#$!/-$.:'-$!.:6!/0!3$9'*!%,! .791*:6! +'2-! 8+''-$! 4#$7%! .5+! +':6! -22! 0$<! KL-$! :6! 9//5#&7>'+'3-'!+!1%/<![M<!!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

E!!

?F? I1*&(;;(1'()-*3+.,'-1,1)&+,-*54*9$)&+*+J4*4%*

-%&'()*O!• T'!/-$.:'!8%$!$)22!%22!*-&2%!+!924+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!

9'*-$!.%66%'&%32!8#3.2!2,0!0$<!

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

"#$!-'!924+&*'+'3.%':$*'%$-!1%'!-'!2+*.4-3$)'.'+'3!,%$%!4$%!/0!.0!.)22!%22!*-'!2(*&+33#$!89$!*-'!2+&&3)'3&+3%!2+*-'!4#$!*+./:'-$%.!/0!4).2%!.)22!5#$!%22!*-!9//.%22%!924+&*'+'3.60&-'!.1%!19''%!'0.<!=-2!1%'! +! .+'! 29$! &-*%! 2+&&! #1%*! -55-12+,+2-2<!=)$92#,-$!1%'!#1%*-!1$%,!5$0'!*-&2%3%$'%.!.+*%! &-*%! 2+&&!1,%&+2-2.5#$4)22$+'3%$<!T'!/0!5#$8%'*!5%.2.&%3-'! 9'*-$,+.'+'3./-$+:*! 1%'! /0! *-22%! .)22! .1%/%! +';+2%6-'2!5#$!40*-!*-&2%3%$-!:;8!924+&*'+'3.%':$*'%$-!%22!-55-12+,+.-$%!9'*-$>,+.'+'3-'<!

T22!/$:4&-6!.:6!2%3+2.!9//!9'*-$!,0$%!.29*+-4-.#1!)$!%22!,+..%!*-&>2%3%$-!2-'*-$%$!%22!4&+!1,%$! +!924+&*'+'3-'!2$:2.!%22!*-! +'2-!3#$!'03$%!5$%6.2-3<!T'!*-&!%,!*-..%!923#$.!%,!*-&2%3%$-!.:6!/$+6)$2!&).-$!.5+!5#$! %22! 50! .+'! 5#$.#$7'+'3<! E! -'! -'1)29'*-$.#1'+'3! .:6!F2%2+.2+.1%!;-'2$%&4($0'!KF`aM!37:$*-!IJJY!5$%61:6!%22!*-2!,%'&+3%.2-!.1)&-2!2+&&!%22!.29*-$%!/0!.5+!,%$!%22! &)$%!.+3!.,-'.1%<W!_22%!%,!2+:!*-&2%3%$-!+'.2)6*-!8-&2!+!*-22%!/0.20-'*-<!F-R!%,!2+:!+'.2)6*-!8-&2!6-*!/0.20>-'*-2! %22!6%'! &).-$! .5+! 5#$! %22! &)22%$-! 19''%! 50! %$4-2-<! T'! %,! 5($%!+'.2)6*-!*:;1!8-&2!6-*!%22!.1)&-2!,%$!%22!50!-$.)22'+'3Q5#$.#$7'+'3<!

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`aD!S-6%4&%*!IJJ@O?<!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

EE!

F1:&%'!92,-;1&%.!:52%!2+&&!-'!,+12+3!.:;+%&!.%6&+'3./9'12!*)$!6%'!*%3>&+3-'!9630.!:;8!924(2-$! 2%'1%$!:;8!-$5%$-'8-2-$<!T'&+32!*-'!:,%'!4-.1$+,'%! -'1)29'*-$.#1'+'3-'! %'.03! ;+$1%! [J! /$:;-'2! %22! .1)&-2!2+&&!%22!6%'!&).2-!.5+!,%$!%22!50!2$)55%!,)''-$!:;8!50!.:;+%&%!1:'2%12-$<!!

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b0! .%66%! .)22! 8%$! ,+!1:66+2! 5$%6! 2+&&! %22! ),-'! %'%&5%4-2-$! .:6!4-8#,-$! &).>!:;8! .1$+,>2$)'+'3!/0! .+22! -3-2! ./$01!:;8! .:6! +'2-!8%$!'03:'! 2+*+3%$-!924+&*>'+'3!4#$!+'4-3$+/%.!+!*-''%!9'*-$,+.'+'3.2+*<!L-$!:6!*-22%!&)'3$-!5$%6!+!*-22%!1%/+2-&<!L:2!*-''%!4%13$9'*!5#$-.&0$!,+!%22!*-2!+!.1:&>&%3-'!KIJ?JOYJJM!+'5#$.!-'!'(!4-.2)66-&.-!6-*!+''-4#$*-'!%22!-'!/-$.:'!8%$!$)22!%22!*-&2%!+!924+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!9'*-$!.%66%'&%32!8#3.2!2,0!0$<!!

E! :;8! 6-*! %22! 924+&*'+'3.2+*-'! /0! *-22%! .)22! 4-3$)'.%.! )$! *-2!,+12+32!%22!*-'!924+&*'+'3!.:6!+'*+,+*-'!50$!+'2-!9'*-$.2+3-$!*%3-'.!$+12,)$*-!/0!?B!2+66%$! +!,-;1%'<!G24+&*'+'3-'!4#$!:;1.0!4-*$+,%.!9'*-$!8-&%!0$-2<!!

\9$!.1%!*0!*-'!.%66%'&%3*%!924+&*'+'3.2+*-'!$)1'%.c!L%'!1%'!2)'1%!.+3!%22!$)1'%!2+*-'!5$0'!*-'!*%3!-'!/-$.:'!%'6)&-$!+'2$-..-!%,!%22!*-&2%!+!924+&*'+'3-'!-&&-$!5$0'!*-'!*%3!.:6!6%'!4&+,+2!-$479*-'!%22!*-&2%!-&&-$!5$0'!*-'!*%3!6%'!/04#$7%$!924+&*'+'3-'<!d:669'-'!8%$!-'!.1(&*+38-2!%22!-$479*%!.5+!.0!.'%$2!.:6!6#7&+32!:;8!*-'!-'.1+&*-!8%$!-22!%'.,%$!%22!92'(227%!*-22%!-$479*%'*-!92%'!:'#*+32!*$#7.60&<! E!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

EK!

,+..%!5%&&!1%'!*-'!-'.1+&*-!*:;1!+'2-!/0,-$1%!')$!.5+>.2%$2-'!.1-$!:;8!+!,+..%! 5%&&!1%'!*-2! 2%!:&+1%! &0'3! 2+*! 5$0'!*-2!%22!6%'!4&+,+2!-$479*-'!/&%2.!2+&&.!6%'!*-!5%;2:!1%'!/04#$7%!924+&*'+'3-'<!N+!6-'%$!%22!*-2!4&+$!6-$!$)22,+.2!%22!$)1'%!2+*-'!5$0'!*-2!%22!924+&*'+'3-'!/04#$7%2.<!N+! 5#$-.&0$!*)$5#$!%22!*-'!.%66%'&%3*%!924+&*'+'3.2+*-'! .1%!4#$7%!$)1'%.!5$0'!:;8!6-*!*-'!2+*/9'12!*0!-'!*-&2%3%$-!.:6!8%$!$)22!%22!&).%!.5+!5#$!5#$.2%!30'3-'!/04#$7%*-!924+&*'+'3-'<!!

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

H)$! 2+*-'! )$! 5#$4$91%*! %'.-$! ,+! %22! 1:669'-'! +'2-! &)'3$-! .1%!19''%! -$479*%! 5:$2.%22! .5+D! -52-$.:6! -'! 2+*.4-3$)'.'+'3! *0! +'2-!.19&&-!50!*-!#'.1%*-!-55-12-$'%<!"#$!%22!19''%!,-2%!')$!2+*-'!)$!5#$>4$91%*!60.2-!89,9*6%''-'!':3%!5#&7%!:;8!*:196-'2-$%!89$!6(;1-2!9'*-$,+.'+'3.2+*!.:6!,%$7-!*-&2%3%$-!8%$!5#$4$91%2<!!

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

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

E"!

3%'.1%! ,)&! 6-*! *-'! 2+*/9'12! *0! -2%4&-$+'3./&%'-'! 9//$)22%.! :;8!/04#$7%.<!N+!1%'!+'2-!8-&&-$!.-!%22!-'!/-$.:'!.:6!:65%22%.!%,!-2%4&-$>+'3.$-5:$6-'! :;8! .:6! 8+''-$! /04#$7%! .5+! +''%'! -2%4&-$+'3./&%'-'!9//$)22%.!/0!'03:2!.)22!.19&&-!6+..3(''%.!%,!-'!2+*.3$)'.!/0!2,0!0$<!S,)$2:6!4#$!*-2!19''%!,%$%! 2+&&! 5#$*-&! 5#$!*-'!/-$.:'-'!-52-$.:6!92$(66-2!*0!4&+$!.2#$$-!5#$!%'*$%D!1:6/&-22-$%'*-!%12+,+2-2-$!+!-2%4&-$>+'3./&%'-'<!

?F?FA >+.,'-1,1)&;4'/1*&6(*:(&+&+0''(&*,*/1*,1-,J,-3/''*&+3-,/5'(1*

=-2!#,-$3$+/%'*-!.(52-2!6-*!.5+!)$!%22!3-!+',%'*$%$-!3$9'*&)33%'*-!19'.1%/-$! +! .,-'.1%! ./$01-2<! N%*! .:6! %'.-.! ,%$%! 3$9'*&)33%'*-!19'.1%/-$! 5$%630$! %,! 19$./&%'-'! 5#$! .5+! KFdZe"F! IJJ@OIM<! =)$!5+''.!),-'!4-.1$+,-2!,+&1%!60&!.:6!*-'!.29*-$%'*-!.1%!8%!9//'022!-52-$! ,%$7-! %,.&92%*! 19$.<!G24+&*'+'3-'! 4-.20$! %,! 2$-! :&+1%! .29*+->,)3%$D!F5+!?D!F5+!I!:;8!F5+!WD! .:6!$+12%$! .+3! 2+&&!/-$.:'-$!6-*!:&+1%!4%13$9'*D!5#$92.)22'+'3%$!:;8!60&<!F5+!?!923#$.!%,!19$.-$'%!V!:;8!aD!F5+!I!%,!19$.-$'%!a!:;8!`!.%62!F5+!W!%,!19$.-$'%!`!:;8!=<!=-!5($%! 19$.-$'%! 2(*&+33#$! /$:3$-..+:'-'! +':6! 924+&*'+'3-'<! F5+! ?!,)'*-$! .+3! +! 5#$.2%!8%'*! 2+&&!/-$.:'-$!6-*!6(;1-2!1:$2! .29*+-4%1>3$9'*!:;8!F5+!W!2+&&!*-6!.:6!)$!,%'%!%22!.29*-$%<!

=-!:&+1%!.29*+-,)3%$'%!)$!-22!.)22!%22!.2$9129$-$%!9'*-$,+.'+'3-'!5#$! %22! .)1-$.2)&&%! %22! *-'! 9'*-$,+.'+'3! .:6! -$479*.! #,-$-'.>.2)66-$!6-*!*-'!.29*-$%'*-.!924+&*'+'3.4%13$9'*!:;8!+'&)$'+'3.>5#$603%<!=-!.:6!+'2-!8%$!5022!6#7&+38-2-$!%22!&)$%!.+3!&).%!-&&-$!.1$+,%!50$! &).>! :;8! .1$+,2$)'+'3! /%$%&&-&&2! 6-*! #,$+3! 9'*-$,+.'+'3<! S,0! %,!19$.-$'%!5+''.!+!6-$!)'!-'!.29*+-,)3<!a-$:-'*-!/0!.29*+-,)3!1%'!,%$!:;8!-'!%,!*-..%! 2,0!19$.-$D!19$.!a!:;8!`D!,%$%!%'2+'3-'!'(4#$7%$>19$.!-&&-$!5:$2.)22'+'3.19$.<!Z%,.-22!,+&1-2D!)$!60&-'!5#$!$-./-12+,-!19$.! *-.%66%D!6-'! 19$.-'! 1%'! 50! :&+1%! 925:$6'+'3! 4-$:-'*-! /0!*-'! .29*-$%'*-.! .29*+-,%'%D!924+&*'+'3.4%13$9'*!:;8!19'.1%/-$! +!.,-'.1%! ,+*! 19$..2%$2-'! .%62! ,%&*! .29*+-,)3<! a-*#6'+'3-'! %,! /0!,+&1-'!'+,0!-'!.29*-$%'*-!.1%!4#$7%!.+'%!.29*+-$!.1%!9230!5$0'!-'!1%$2>&)33'+'3!%,!8%'.!-&&-$!8-''-.!19'.1%/-$D!5#$92.)22'+'3%$!:;8!,%*!.:6!+!#,$+32!1%'!8%!4-2(*-&.-!5#$!6#7&+38-2-$'%!%22!'0!60&-'<!S$:2.! %22! -'!.29*-$%'*-! 1%'! %,.&92%! .5+! -52-$! $-./-12+,-! 19$.! -&&-$! .29*+-,)3! )$!+'2-'2+:'-'!+!*%3!%22!%&&%!.1%!3-.!6#7&+38-2!%22!.29*-$%!2+&&!:;8!6-*!19$.!=<!!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

ED!

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

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!![!F1:&,-$1-2.!.2%2+.2+1D!S%4-&&!IV!d:66-'2%$-$<!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

EC!

?F?F? >+.,'-1,1)/1*;4&+/*67;.,1/%(&*;/-*:$%J0%J&(%./+/*54*/++*.0++%/*&0++*

N0$%!.29*+-4-.#1!8%$!/0!-22!2(*&+32!.)22!,+.%2!/0!*-'!+'4(33*%!60&>1:'5&+12-'!6-&&%'! %$4-2.&+'7-'! :;8! ./$01&+'7-'<! N%*!6-'%.! -3-'2>&+3-'!6-*!%$4-2.&+'7-'c!N%*!.(52%$!.5+!2+&&!+!-22!+'2-3$%2+:'./:&+2+.12!/-$./-12+,c!\9$!6(;1-2!.,-'.1%!.1%!6%'!19''%!-52-$!%,.&92%*!.5+c!\9$!6(;1-2! .,-'.1%! .1%!6%'!19''%! 5#$! %22! ,%$%! $-*:! 5#$! %$4-2.>6%$1'%*-'c!T'!*-&D!:52%.2!.5+>&)$%$-D!6-'%$!%22!.%62&+3%!.29*-$%'*-!4#$! 3-.! 6#7&+38-2-$! %22! '0! 9//! 2+&&! =>'+,0'! 6-*%'! %'*$%D! 5#$->2$)*-.,+.! 5#$-2$)*%$-! 5#$! .:;+%&27)'.2-'D! 5&(12+'3.%6:$*'%$-! :;8!$-12:$-$D! %'.-$! %22!6%'!6(;1-2! ,)&! 1%'! ,%$%! $-*:! 5#$! %$4-2.6%$1>'%*-'! ,+*! %,1&%$%*!`>'+,0<!=-2! 5+''.! ),-'! *-! .:6! %'.-$! %22!6%'!1%'!1&%$%! -22! %$4-2-!,+*!9//'0**!a>'+,0D!:6!6%'!8+22%$! $)22! 7:44<!"$0'!V$4-2.5#$6-*&+'3-'.!.+*%!%'.-$!6%'!+!,+..%!5%&&!%22!*-'!%$4-2.>.#1%'*-! 4-8#,-$! 6-$! .,-'.119'.1%/-$! :;8! +4&%'*! %22! *-2! $);1-$!6-*!2<-R<!`>'+,0!5#$!%22!19''%!%'.-.!.20!2+&&!%$4-2.6%$1'%*-'.!5#$>5:3%'*-D! .%'':&+12! 4-$:-'*-! /0! 40*-! 1:'79'129$.,)'3'+'3%$! :;8!-52-$5$03%'!/0!*-'!&:1%&%!%$4-2.6%$1'%*-'<!

Z%,.-22!,%$!6%'!,)&7-$!%22!&)33%!$+44%'!5#$!f2+&&$);1&+3%f!.,-'.1>19'.1%/-$!)$!-'!,+12+3!5$03%!+!.%64%'*!6-*!-'!2+*.4-3$)'.'+'3!89$!6%'!.1%!.-!/0!.5+!+!5#$80&&%'*-!2+&&!%$4-2-<!C$!*-2!%,!3:*:!-&&-$!:'*:!%22!%,4$(2%!.5+!')$!6%'!50$!-22!%$4-2-c!N+..%!.5+>%'.,%$+3%!.:6!,+!/$%2%2!6-*!8%$!922$(;12! -'! $)*.&%! 5#$! %22!*-!1$%,! .:6!*-'!.<1<! %$4-2.&+'7-'!.2)&&-$!/0!.5+>*-&2%3%$'%D!*,.<!%22!6%'!60.2-!.20!2+&&!%$4-2.6%$1'%*-'.!5#$5:3%'*-!:;8!2%!*-!%$4-2-'!.:6!-$479*.D!$+.1-$%$!%22!5#$.)6$%!6#7>&+38-2-$'%!%22!&)$%!.+3!.,-'.1%<!V'*$%!%'.-$!%22!:6!*-!.,-'.119'.1%/-$!6%'!89''+2!5#$,)$,%!9'*-$!.+'!.5+>2+*!$);1-$!5#$!-'!%'.2)&&'+'3!.0!)$!*-2!2+&&$);1&+32<!!

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

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

K@!

=-2! 5%1296! %22!6%'!60.2-! %$4-2%! 5#$! %22! 5#$.#$7%! .+3! :6!6%'!.20$!2+&&!%$4-2.6%$1'%*-'.!5#$5:3%'*-!50$!+'2-!+''-4)$%!%22!6%'!5#$>&:$%$! .+'! $)22! %22! &).%! .5+<! V,! *-2! 5#&7-$! %22! 9'*-$,+.'+'3-'! 60.2-!3#$%.!6-$!5&-R+4-&!.0!%22!5&-$!1%'!1:64+'-$%!.5+!6-*!5#$,)$,.%$4-2-D!.0! %22! ,%&-2! +'2-! 4-8#,-$! .20!6-&&%'! %22! %'2+'3-'! &).%! .,-'.1%! -&&-$!%$4-2%<!L%'!60.2-!19''%!3#$%!40*-!:;8<!!

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

"#$92:6!%22!*-2!+!.2#$$-!92.2$);1'+'3!:;8!/0!4)22$-!.)22!60.2-!30!%22!1:64+'-$%!.5+>924+&*'+'3-'!6-*!5#$,)$,.%$4-2-!)$!*-2!),-'!,+12+32!%22!*-2!-52-$!%,.&92%*!.5+!5+''.!2(*&+3%!,)3%$!5#$!,+*%$-924+&*'+'3D!5#$!%22!6#7&+33#$%!-'!1:'2+'9-$&+3!92,-;1&+'3!%,!./$015)$*+38-2-$'%!/%$%&&-&&2!6-*!5#$,)$,.%$4-2-<!!

?F?FH L,-&./)%01&1,1)*,*:$%94''(1-/*+,''*-/'+()(%/*;/-*./97J*(J*&0%&6,'+*&+$-*

T'!%''%'!5$03%!.:6!*+.192-$%2.!5&+2+32!9'*-$!92$-*'+'3-'.!30'3!)$!89$!6%'!.1%!.-!/0!2+*.4-3$)'.'+'3!+!5#$80&&%'*-!2+&&!.29*-$%'*-!6-*!.)$.1+&*%!4-8:,<!=-!5&-.2%!.:6!,+!8%$!2$)55%2!9'*-$!,0$%!.29*+-4-.#1!8%$!+'&-*'+'3.,+.!%'.-22!%22!2+*-'!4#$!5#$&)'3%.!5#$!*-&2%3%$-!.:6!%,!:&+1%! .1)&! 8%$! +'&)$'+'3..,0$+38-2-$<! =-2! 1%'! 2<-R<! 3)&&%! 5&(12+'3%$!:;8! %'*$%! .1(**.4-8#,%'*-! .:6!3-':63022! .,0$%!9//&-,-&.-$! +''%'!%'1:6.2-'!2+&&!F,-$+3-!:;8!.:6!&+*-$!%,!.<1<!/:.22$%96%2+.12!.2$-..('>

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

KA!

*$:6! -&&-$! /-$.:'-$! .:6! /0! 3$9'*! %,! %'*$%! 8)&.:.1)&! -&&-$! :&+1%!5:$6-$! %,! 59'12+:'.'-*.)22'+'3!8%$! .,0$2! %22! 2+&&3:*:3#$%! .+3!9'*-$>,+.'+'3-'<! F%62+*+32!8%$!*+.19..+:'-$'%!:52%!8%'*&%2!:6!4-8:,-2! %,!%22! +! 8#3$-! 3$%*! %'/%..%! 9'*-$,+.'+'3-'! 2+&&! *-&2%3%$'%.! 4-8:,<!L0'3%!%'.-$! %22!*-2! 5+''.!-'! .2:$!92,-;1&+'3./:2-'2+%&! +':6!*-22%!:6$0*-<!!

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

F:6!2+*+3%$-!')6'2.!.2)&&-$!-'!2+*.4-3$)'.'+'3!1$%,!/0!%22!#,-$>30'3-'!5$0'!.5+!2+&&!*-2!:$*+'%$+-!924+&*'+'3.,).-'*-2!59'3-$%$!/0!-22!-55-12+,2!:;8! )'*%60&.-'&+32! .)22<!"#$!/-$.:'-$! .:6!)$! +! 4-8:,! %,!.)$.1+&2! .2#*! +! 9'*-$,+.'+'3-'! )$! *-2! ),-'!,+12+32! %22! *-'! 5:$2.%22%!924+&*'+'3-'!925:$6%.!.0!%22!/-$.:'-'!+!5$03%!50$!*-2!.2#*!.:6!4-8#,.!5#$!%22!19''%!2+&&3:*:3#$%!.+3!924+&*'+'3-'<!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

K?!

823'6+*&1,',2,*#2#$%&90((),3+#/2((#),)($)6+/+&#

g$9//-'!%'%&5%4-2-$!8%$!9'*-$!%&&%!,0$%!.29*+-4-.#1!1:66+2!9//!+!*+.19..+:'-$'%<!L0'3%!8%$!9'*-$.2$91+2! %22!*-2!4-8#,.! -'! ./-;+-&&!/-*%3:3+1!:;8!./-;+-&&%!9'*-$,+.'+'3.6-2:*-$!5#$!*-''%!3$9//<!!

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

E':6!.5+>9'*-$,+.'+'3-'!+'30$!.0&-*-.!&).>!:;8!.1$+,+'&)$'+'3!5#$!/-$.:'-$!92%'! 2+*+3%$-!924+&*'+'3! .%62! 5#$!/-$.:'-$! .:6!8%$! 1:$2!924+&*'+'3!:;8!.:6!+'2-!)$!59'12+:'-&&2!&+22-$%2%D!*,.<!.:6!+'2-!1%'!&).%!-&&-$!.1$+,%!-'!2-R2!%,!4-2(*-&.-!5#$!*-2!,%$*%3&+3%!&+,-2<!F(52-2!)$!%22!*-!.1%!50!6#7&+38-2!%22!5#$,)$,%!3$9'*&)33%'*-!&).>!:;8!.1$+,5)$*+3>8-2-$<!G24+&*'+'3-'!,)'*-$!.+3!),-'!2+&&!/-$.:'-$!.:6!)$!&+22-$%2%!6-'!+'2-! 4-8)$.1%$! *-2! &%2+'.1%! %&5%4-2-2<! e).>! :;8! .1$+,+'&)$'+'3-'!1'(2.!+'2-!2+&&!'03:'!%,!19$.-$'%!V]=D!92%'!923#$!-'!-3-'!*-&D!.:6!1%'! &).%.! 5$+.20-'*-!-&&-$!1:64+'-$%.!6-*!'03:'!%,!19$.-$'%<!=-2!)$! %&&2.0! -'! /$:;-..! .:6!1%'! /030! 9'*-$! 8-&%! .5+>2+*-'<!G'*-$,+.>'+'3-'!50$!),-'!.1-!/0!*-'!.29*-$%'*-.!6:*-$.60&!-&&-$!%''%2!./$01!:;8!4#$!),-'!*0!19''%!.1-!/%$%&&-&&2!6-*!9'*-$,+.'+'3-'!+!.,-'.1%<!!

d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

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

KH!

6-&&%'! -3'%! 19&29$-&&%! -$5%$-'8-2-$! :;8! *-'! .,-'.1%! 19&29$-'<!C6'-2!.1%!92,-;1&%!-'!%&&.+*+3!1:669'+1%2+,!5#$603%!92+5$0'!*-'!.29*-$%'*-.! 5#$92.)22'+'3%$D! 4-8:,! :;8! .29*+-60&<! d9'.1%/-$! +!.,-'.1%!)$!-'!5#$92.)22'+'3!5#$!.29*+-$!+!%'*$%!)6'-'D!5#$!5:$2.%22%!.29*+-$! :;8! 5#$! %22! *-'! .29*-$%'*-! .1%! 19''%! 59'3-$%! +! ,%$*%3.>D!%$4-2.>!:;8!.%68)&&.&+,<!F/$0192,-;1&+'3!.1-$!+'2-!4%$%!+':6!$%6-'!5#$! 924+&*'+'3! 92%'! ),-'! +! %$4-2-! :;8! 9'*-$! %'*$%! %12+,+2-2-$<!g-':6!%22!$-5&-12-$%!#,-$!&+18-2-$!:;8!.1+&&'%*-$!+!./$01!1%'!*-'!.29*>-$%'*-! 92,-;1&%! 40*-! *-2! -3'%! ./$01-2! :;8! :&+1%! 1:669'+1%2+:'.>.2$%2-3+-$<! =-'! 5#$.2%! *-&-'! %,! 924+&*'+'3-'! +! )6'-2! .,-'.1%! .:6!%'*$%./$01!:65%22%$!,+*!4-8:,!40*-!%&5%4-2+.-$+'3!/0!.,-'.1%!-&&-$!/0!6:*-$.60&-2!:;8!3$9'*&)33%'*-!&).>!:;8!.1$+,92,-;1&+'3!5#$!%'%&5%>4-2-$!:;8!1:$2924+&*%*-!,9R'%<!=-!.29*-$%'*-!.:6!8%$!3$9'*&)33%'*-!5)$*+38-2-$!30$!,+*%$-!6:2!60&-'!+!*-'!%'*$%!*-&-'B<!!

V&5%4-2+.-$+'3! ]! /0! .,-'.1%! -&&-$! /0!6:*-$.60&-2! ]! 5+''.! %&&2.0!%&&27)62!1,%$!+':6!*-'!3$9'*&)33%'*-!,9R-'924+&*'+'3-'!:;8!+'30$!+!)6'-2!.,-'.1%!.:6!%'*$%./$01<!=-2!5+''.!*)$5#$!+'3-2!.:6!8+'*$%$!%22!-'!%'%&5%4-2!-&&-$!1:$2924+&*%*!/-$.:'!.:6!&).2!.5+!+!2,0!0$!.1%!19''%!5:$2.)22%! +':6! 3$9'*&)33%'*-! ,9R-'924+&*'+'3! /0! *-'! '+,0! 6%'! *0!4-5+''-$!.+3!:;8!),-'!,+*!4-8:,!50!5:$2.%22!&).>!:;8!.1$+,2$)'+'3!/0!.,-'.1%!-&&-$!/0!6:*-$.60&-2<!

"$0'!:;8!6-*!*-'!?!79&+!IJ?I!1:66-$!*-2!%22!,%$%!:4&+3%2:$+.12!6-*!+'*+,+*9-&&%! .29*+-/&%'-$! +':6! 924+&*'+'3-'! +! .,-'.1%! 5#$! +',%'*$%$-<!E':6!*-'!3$9'*&)33%'*-!,9R-'924+&*'+'3-'!5+''.!$-*%'!6:2.,%$%'*-!1$%,<!=-2!5%1296!%22! +'*+,+*9-&&%!.29*+-/&%'-$!*)$6-*!1:66-$!%22!5+''%.!+!40*%!.1:&5:$6-$'%!2:$*-!4+*$%!2+&&!%22!.1%/%!5#$92.)22'+'3%$!5#$!-'!.6+*+3!#,-$30'3! 5$0'!924+&*'+'3-'! +! .,-'.1%! 5#$! +',%'*$%$-!2+&&!*-'!#,$+3%!,9R-'924+&*'+'3-'<!!

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g:*1)'2!/0!19$.!a!/0!.29*+-,)3!?!50$!*-2!&)3.2%!4-&://-2<!a:'9..(.2-6!/$-6+-$%$!/0!.0!.)22!*-!.:6!$-*%'!)$!6:2+,-$%*-!:;8!8%$! 5#$92.)22'+'3%$!%22!'0!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!B!FdZe"F! IJJ[OIB! "#$-.1$+52-$! :6! '%2+:'-&&%! 19$./&%'-$! :;8! 4-2(3.1$+2-$+-$! 5#$! 19$.-$!+':6!3$9'*&)33%'*-!,9R-'924+&*'+'3<!A!F5+>4:'9.-'!3)&&-$!-7!5#$!%$4-2.1$%52.+',%'*$%$-D!3).2.29*-$%'*-!:;8!TTF>6-*4:$3%$-<!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

K!!

&0'32!/0!1:$2!2+*<!=-2!$-.-$!5$03%'!:6!,+&1-'!-55-12!4:'9..(.2-6-2!-3-'2&+3-'! 8%$<! Z6!6%'! .19&&-! 9230! 5$0'! 89$! 6(;1-2! -'! .5+>*-&>2%3%$-! %'.2$)'3-$! .+3! .19&&-! *-2! +! .2)&&-2! ,%$%! 4-5:3%2! 6-*! -22!:6,)'2!4:'9..(.2-6<!Z%,.-22!89$!6%'!.-$!/0!*-''%!5$03%!5+''.!*-2!.1)&! %22! 2+22%! ')$6%$-! /0! 4:'9..(.2-6-2! +! 5#$80&&%'*-! 2+&&! -'! 2+*.>4-3$)'.'+'3<!

?FH M$G',)9/+*+,''*(J.%7++**

-%&'()*O!• E!&+18-2!6-*!,%*!.:6!3)&&-$!5#$!#,$+3!,9R-'924+&*'+'3!.1%!*-2!!

,%$%! 6#7&+32! %22! 3#$%! ! %,4$:22! +! 924+&*'+'3-'! +! .,-'.1%! 5#$!+',%'*$%$-<!!

• X)22-'!%22!*-&2%!+!924+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!9//8#$!!8-&2!5($%!0$!-52-$!%22!-'!/-$.:'!5#$.2%!30'3-'!5:&14:15#$*-.!+!-'!1:669'<!

• G'*-$! *-''%! 5($%0$./-$+:*! 1%'! -'! /-$.:'! .7)&,! 4-.2)66%!.29*+-2%12!:;8!&)'3*-'!/0!-,-'29-&&%!9//-80&&!9'*-$!*-'!5%.2>.2)&&*%!.29*+-2+*-'<!

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

E! *-! *+.19..+:'-$! ,+! 8%$! 5#$2! :6! 89$! 6%'! 4#$! .-! /0! 5%6+&7->4+&*'+'3! :;8! 5#$)&*$%&-*+38-2! +! 1:64+'%2+:'! 6-*! .5+! )$! -'! %,! *-!9//5%22'+'3%$!.:6!5$%65#$2.!%22!1,+'':$!.:6!)$!5#$)&*$%&-*+3%!4#$!8%!$)22!%22!&).%!.5+!9'*-$!-'!&)'3$-!2+*./-$+:*!)'!2,0!0$<!L-$/%$2-'!%,!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

KE!

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

=-2! 1%'! :;1.0! 5+''%.! %'*$%! .1)&! 2+&&! %22!6%'! ,)&7-$! %22! %,4$(2%!9'*-$,+.'+'3-'<!=-2!1%'!2<-R<!8%'*&%!:6!'-*.%22!8)&.%D!.:;+%&%!/$:>4&-6D! 2$0'34:**8-2D! .#6'/$:4&-6! -&&-$! %'*$%!6)'.1&+3%! 5%12:$-$!.:6!3#$!*-2!.,0$2!5#$!-'!*-&2%3%$-!%22!1:';-'2$-$%!.+3!/0!9'*-$,+.>'+'3-'!+!*-'!92.2$);1'+'3!.:6!)$!'#*,)'*+3!5#$!%22!'0!60&-'<!C,-'!+!*-..%!5%&&!1%'!-'!/-$+:*.!9//-80&&!,%$%!%,!,)$*-!5#$!%22!6#7&+33#$%!02-$8)62'+'3!-&&-$!4-8%'*&+'3.+'.%2.-$<!!

H)$!*-2!3)&&-$!6#7&+38-2-$!%22!19''%!3#$%!%,4$:22!-&&-$!9//-80&&!8%$!,+!,%&2!%22!9230!5$0'!*-'!1:'.2$912+:'!.:6!5+''.!+!-2%4&-$+'3.$-5:$6-'!:;8! .:6! $-3&-$%.! +! 5#$:$*'+'3-'! KIJ?JO[J@M! :6! -2%4&-$+'3..%62%&!:;8!-2%4&-$+'3.+'.%2.-$!5#$!,+..%!'(%'&)'*%!+',%'*$%$-<!T'&+32!*-''%!5#$:$*'+'3!50$!-22!%,4$:22!5$0'!*-!%12+,+2-2-$!.:6!+'30$!+!-'!-2%4&-$>+'3./&%'!.%66%'&%32!:65%22%!8#3.2!-22!0$<!!

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

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

KK!

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

N+!5#$-.&0$!.0&-*-.!%22!*-2! +'5#$.!-'!'(!4-.2)66-&.-! +!.1:&&%3-'!KIJ?JOYJJM! .:6! +''-4)$! %22! $)22-'! %22! *-&2%! +! 924+&*'+'3! +! .,-'.1%!5#$! +',%'*$%$-! .1%! 3)&&%! 9'*-$! 8#3.2! 5($%! 0$! 5$0'! 5#$.2%! 5:&14:1>5#$+'3.*%296<!!

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g-':6!%22!-'*%.2!$-3&-$%!*-'! 2+*! .:6! )$!6#7&+3! %22! %',)'*%! 5#$! %,4$:22! 2(*&+33#$.! ),-'! %22!*-2!)$!*-'!-'.1+&*-.!-3-2!%'.,%$!%22!.0!&0'32!.:6!6#7&+32!:$3%'+.-$%!.+22! &+,! .0! %22! *-'! 2+*! .:6! .20$! 2+&&! 5#$5:3%'*-! 5#$! .5+>.29*+-$! 1%'!92'(227%.!/0!-22!.0!4$%!.)22!.:6!6#7&+32<!N-2.1%/-'!:6!%22!$)22-'!2+&&!9'*-$,+.'+'3! 9//8#$! 5($%! 0$! -52-$! 5:&14:15#$+'3.*%296! 2:$*-!923#$%!/:.+2+,%!+';+2%6-'2!+!*-22%!%,.--'*-<!

F:6!,+!1:66-$!+'!/0!+!').2%!%,.'+22!5#$-.&0$!,+!%22!$-3&-$'%!:6!%22!9'*-$,+.'+'3-'!+!,+..%!5%&&!.1%!9//8#$%!),-'!.1%!3)&&%!5:$2.)22'+'3.,+.<!=-2! 2%&%$! 5#$! %22! %,4$:22! +'2-!1%'!3#$%.!89$! .:6!8-&.2D! -52-$.:6! -'!/-$.:'!.:6!3#$!02-$1:66%'*-!:/&%'-$%*-!%,4$:22!:;8!+'2-!3#$!2+&&>5$-*..2)&&%'*-!5$%6.2-3!$+.1-$%$!%22!%,.2)'3%.!5$0'!924+&*'+'3-'<!

N+*%$-!1%'!-'!1:669'!.2)&&%!1$%,!/0! %22! -'!/-$.:'!.:6!.#1-$!5#$.#$7'+'3..2#*!-'&+32!.:;+%&27)'.2&%3-'!KIJJ?O[BWM!.1%!*-&2%!+!924+&*>'+'3! +! .,-'.1%! 5#$! +',%'*$%$-! .0! &)'3-! .:6!6%'! 8%$! $)22! 2+&&! 924+&*>'+'3-'<!=-2!+''-4)$!%22!.1)&-'!2+&&!%,4$:22!),-'!1:66-$!%22!4-%12%.!+!.%64%'*!6-*!/$#,'+'3-'!%,!$)22-'!2+&&!5#$.#$7'+'3..2#*<!!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

K"!

"#$.&%3-2!+''-4)$!%22!-'!5#&7*)'*$+'3!4-8#,-$!3#$%.!+!II!1%/<!?P!^!+!.1:&&%3-'! KIJ?JOYJJM<! T'&+32! 4-.2)66-&.-$'%! +! *-''%! /%$%3$%5! .1%!*-'!.:6!5$+,+&&+32!%,4$92+2!924+&*'+'3-'!/0!'(22!4-$-*%.!924+&*'+'3!:6!*-2! 5+''.! .)$.1+&*%! .1)&! 5#$! *-2<!T52-$.:6!,0$2! 5#$.&%3! +''-4)$!%22! 6%'! *-! 5%;2:! 50$! 3#$%! 5$+,+&&+3%! %,4$:22D! 5#$-.&0$! ,+! %22!4-.2)66-&.-'!)'*$%.!.0!%22!-'!/-$.:'!.:6!37:$2!-22!5$+,+&&+32!%,4$:22!/0!'(22!.1%!4-$-*%.!924+&*'+'3!92%'!/$#,'+'3!%,!.)$.1+&*%!.1)&<!!

E!*-22%!.%66%'8%'3!)$!*-2!:;1.0!,)$2!%22!')6'%!%22!-'!%'/%..%*!:;8!6-$! 5&-R+4-&! 9'*-$,+.'+'3! 8%$! 4-2(*-&.-! 5#$!6#7&+38-2-$'%! %22!6+'.1%! %,4$:22-'<!h1%*-!6#7&+38-2-$! %22! 1:64+'-$%! .5+!6-*! 5#$>,)$,.%$4-2-! 1%'! 2<-R<! +''-4)$%! %22! -'! /-$.:'! .:6! 50$! %$4-2-! +'2-!4-8#,-$! 3#$%! '03:2! %,4$:22! +! 9'*-$,+.'+'3-'! #,-$! 89,9*! 2%3-2<!e+1%.0!1%'!-'!5&-R+4-&!9'*-$,+.'+'3!.:6!6-*3-$!%22!*-'!.:6!)$!5#$>)&*$%&-*+3!50$!6#7&+38-2-$!%22!5:$2.)22%! &).%!.5+!/0!*+.2%'.D! +''-4)$%!%22!/-$.:'-'!+!5$03%!+'2-!4-8#,-$!4#$7%!:6!5$0'!4#$7%'!-52-$!-22!9//-80&&<!L-$!:6!5&-R+4-&!9'*-$,+.'+'3!2%.!9//!+!1%/<!W<!

?F! >1-/%J,&1,1)/1*3559$%*

-%&'()*:#• a-.2)66-&.-$'%!:6!%22!9'*-$,+.'+'3-'!.1%!9//8#$%!5#$!*-'!

.:6!.%1'%$! 5#$92.)22'+'3%$!%22! 2+&&3:*:3#$%!.+3!924+&*'+'3-'!-&&-$!%''%$.!+'2-!3#$!2+&&5$-*..2)&&%'*-!5$%6.2-3!.1%!3)&&%!),-'!5:$2.)22'+'3.,+.<!!

;+3%",2,*:#• T'! 2+*.4-3$)'.'+'3! #1%$! 5#$92.)22'+'3%$'%! %22! 2+&&)6/%!

4-.2)66-&.-'!/0!-22!%*-1,%2!.)22<!

!T'&+32!4-.2)66-&.-'!+!?W!1%/<!??!̂ !.1:&&%3-'!K?@YBO??JJM!.1%!.5+!9//>8#$%! 5#$! *-'! .:6! .%1'%$! 5#$92.)22'+'3%$! %22! 2+&&3:*:3#$%! .+3! 9'*-$>,+.'+'3-'! -&&-$! %''%$.!+'2-! 3#$! 2+&&5$-*..2)&&%'*-! 5$%6.2-3<! E! *-'! '(%!.1:&&%3-'!KIJ?JOYJJM!02-$5+''.!6:2.,%$%'*-!4-.2)66-&.-$!+!II!1%/<!?A! :;8! ?P!^^<! =-22%! .1%! 5:$2.%22! 3)&&%<! T'&+32! *+$-12+,-'! .1%! ,+! 2%!$-*%!/0!89$!1:669'-$'%!2+&&)6/%$!*-..%!4-.2)66-&.-$<!

G'*-$!*-;-64-$!60'%*!IJ?J!.1+;1%*-!92$-*'+'3-'!6-*!87)&/!%,!F,-$+3-.!d:669'-$!:;8!e%'*.2+'3! KFdeM!92! -'! -'1)2! 2+&&! &%'*-2.!1:669'-$! 6-*! 5$03:$! :6! 2+&&)6/'+'3-'! %,! *-''%! 4-.2)66-&.-<!T'1)2-'! .1+;1%*-.! 92! 2+&&! 2:2%&2! IAA! 6:22%3%$-! .:6! %'2+'3-'! ,%$!924+&*'+'3.;8-5-$!-&&-$! 5#$,%&2'+'3.;8-5-$! 5#$!,9R-'924+&*'+'3-'!-&&-$!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

KD!

6:2.,%$%'*-<!S:2%&2!+'1:6!?AI!.,%$!,+&1-2!3-$!-'!.,%$.5$-1,-'.!/0!A?!/$:;-'2<!!

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

=-2! )$! ,+12+32! 5#$! -'! *-&2%3%$-! %22! ,-2%! ,+&1%! $-3&-$! .:6! 3)&&-$D!+'2-!6+'.2!6-*!2%'1-!/0!%22!:2+&&5$-*..2)&&%'*-!5$%6.2-3!1%'!&-*%!2+&&!%22!$)22-'!%22!*-&2%! +!924+&*'+'3-'!9//8#$<!=-2!5%1296!%22!4-.2)6>6-&.-$'%! +'2-! 2+&&)6/%.! .:6! *-2! )$! 2)'12! 6-*5#$! -22! $)22.:.)1-$2!&)3-!5#$!*-'!-'.1+&*-<!!

N0$!4-*#6'+'3!)$!%22!*%3-'.!2+&&)6/'+'3./$:4&-6! +'2-!/$+6)$2!8%'*&%$!:6!%22! $-3-&,-$1-2! .19&&-!,%$%!:2(*&+32!/0!'03:2! .)22D!92%'!.'%$%$-!/0!%22!*-2!)$!4$+.2-$! +!9//5#&7'+'3-'!:;8!*:196-'2%2+:'-'!%,!*-&2%3%$'%.!60&9//5(&&-&.-!.:6!3#$!*-2!.,0$2!%22!2+&&)6/%!$-3&-$'%!/0!*-2!%,.-**%!.)22-2<!E!,0$2!5#$.&%3!2+&&!2+*.4-3$)'.'+'3!)$!9230'3.>/9'12-'! %22! %&&%!*-&2%3%$-! .1%!19''%!1:66%! .0! &0'32! .:6!6#7&+32!9'*-$!*-'!2+*!.:6!.20$!2+&&!5#$5:3%'*-<!=-!924+&*'+'3.60&!.:6!.1%!9//'0.! 9'*-$! *-'! 4-3$)'.%*-! 2+*-'! .1%! 5%.2.2)&&%.! +! -'! +'*+,+*9-&&!.29*+-/&%'! .:6! 1:66-$! %22! 4&+! -22! ,+12+32! ,-$12(3! 5#$! %22! 50! 2+&&!.20'*!-'!+'*+,+*9%&+.-$%*!9'*-$,+.'+'3<!=-2!&+33-$!+!.%1-'.!'%29$!%22!2)2%!9//5#&7'+'3%$!:;8!%,.2)6'+'3%$!60.2-!3#$%.!%,!.29*+-/&%'-'!5#$!%22! .)1-$.2)&&%! %22!924+&*'+'3.60&-'!'0.D!*,.<! %22! 2+*-'!%',)'*.!/0!-22!:/2+6%&2!.)22<!T'!2+*.4-3$)'.'+'3!2:$*-!*)$5#$!#1%!5#$92.)22'+'3%$'%!%22!2+&&)6/%!4-.2)66-&.-'!/0!-22!%*-1,%2!.)22<!!

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

KC!

?FE N%(J*54*355),:+&&6O'-,)9/+*:$%*(++*.',*(1+()/1*

-%&'()*O!• "#$!%22!%'2%.!2+&&!924+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!.1%!*-'!

.#1%'*-!,+.%!')$!8%'!-&&-$!8:'!5#$.2%!30'3-'!5:&14:15#$*-.!+!-'!1:669'<!!

• N+*!4(2-!%,!924+&*'+'3.%':$*'%$-!.1%!*-'!-'.1+&*-!),-'!,+.%!+'2(3!5$0'!2+*+3%$-!924+&*'+'3<!

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

N+*!,0$2!.29*+-4-.#1!+!H:$3-!5+;1!,+!&)$%!:..!89$!9//3+52-$!%,!*-22%!.&%3!.:6!5%''.!$-3+.2$-$%*-!/0!')2-2!19'*-!1:66%!2+&&!.2:$!'(22%!5#$!40*-!1:669'-$D!924+&*'+'3.%':$*'%$-!:;8!19$.*-&2%3%$-<!V22! +'5#$%!-22! .0*%'2! .(.2-6! )$! .,0$%$-! +! F,-$+3-! )'! +!H:$3-D! 4-$:-'*-!/0! %22!,0$%! &)'*-$! )$!9//4(33*%!/0!:&+1%!.)22!')$!*-2!3)&&-$! $-&%2+:'-'! .2%2>1:669'<!d:669'-$'%!8%$!-'!6-$!.7)&,.2)'*+3!.2)&&'+'3!+!F,-$+3-<!V22!925:$6%!-22!.(.2-6!&+1'%'*-!*-2!':$.1%!.19&&-!1$),%!-22!:65%22%'*-!92$-*'+'3.%$4-2-!,+&1-2!+'2-!&+33-$!+':6!$%6-'!5#$!,0$2!9//*$%3<!N+!4-$#$! *:;1! *-''%! 5$03%! +! 1%/<! W<! E! 4$+.2! /0! -22! '%2+:'-&&2! +'5:$6%>2+:'..(.2-6!60.2-!.0&-*-.!'#*,)'*+3!+'5:$6%2+:'!5#$6-*&%.!/0!%''%2!.)22<!

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

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

"@!

?FK P0++/1*(++*$J/%6'()(*

-%&'()*O!

• a-.&92! :6! %22! 924+&*'+'3-'! 9//8#$! -52-$! -'! .%66%'&%3*!9'*-$,+.'+'3.2+*! /0! 2,0! 0$! .1%! 19''%! #,-$1&%3%.<!=-2! 3)&&-$!),-'!5#$!4-.&92!:6!%22!$)22-'!%22!*-&2%!+!924+&*'+'3-'!9//8#$!8-&2! 5($%!0$!-52-$! 5#$.2%!30'3-'!/-$.:'-'! 5:&14:15#$*-.! +! -'!1:669'<!!

!=-2! .1%! ,%$%!6#7&+32! %22! #,-$1&%3%! -22! 4-.&92! :6! %22! 924+&*'+'3-'!.1%!9//8#$%!')$!-'!*-&2%3%$-!.%66%'&%32!*-&2%3+2!+!924+&*'+'3!+!2,0!0$<!=-2!.1%!:;1.0!,%$%!6#7&+32!%22!#,-$1&%3%!-22!4-.&92!:6!%22!924+&*>'+'3-'!8-&2!.1%!9//8#$%!5($%!0$!-52-$!5#$.2%!30'3-'!/-$.:'-'!5:&1>4:15#$*-.! +! -'! 1:669'<! =-22%! )$! ,)&! 5#$-'&+32! 6-*! ,%*! .:6! +!#,$+32!3)&&-$!-'&+32!*-'!'(%!.1:&&%3-'!KIJ?JOYJJM!:;8! +''-4)$!4%$%!,+..%! %'/%..'+'3%$! 2+&&! *-! $-*%'! 4-5+'2&+3%! #,-$1&%3%'*-6#7&+3>8-2-$'%<!!

X-3-$+'3-'!%'3%,!.:6!/$+';+/+-&&!9230'3./9'12!5#$!*-'!'(%!.1:&>&%3-'!+!/$:/:.+2+:'-'!=-'!'(%!.1:&&%3-'!]!"#$!19'.1%/D!,%&5$+8-2!:;8!2$(338-2! K/$:/<! IJJ@Q?JO?ABM! %22! 4&<%<! $)22..)1-$8-2-'! 5#$! -&-,-$!:;8!,0$*'%*.8%,%$-!.1%!.2)$1%.!3-':6!%22!4-2(*&+32!5&-$!4-.&92!)'!+!*%3!.1%!19''%!#,-$1&%3%.<!!

T'&+32!IY!1%/<!?I!^!.1:&&%3-'!KIJ?JOYJJM!)$!*-2!6#7&+32!%22!#,-$>1&%3%! *-! 4-.&92! -'! 1:669'! -&&-$! -22! &%'*.2+'3! 5%22%$! :6! 6:2>2%3%'*-! 2+&&! 924+&*'+'3! +! .,-'.1%! 5#$! +',%'*$%$-! KII!1%/<! ?B!^M!:;8!9//8#$%'*-!%,!924+&*'+'3-'!+!.,-'.1%!5#$!+',%'*$%$-!KII!1%/<!?A!^M<!T'&+32!&%3-'!)$!*-2!:;1.0!6#7&+32!%22!#,-$1&%3%!4-.&92!:6!%22!/0!'(22!4-$-*%!924+&*'+'3!+!.,-'.1%!5#$!+',%'*$%$-!KII!1%/<!?P!^M<!

E!5$03%!:6!#,-$1&%3%'*-6#7&+38-2-'!5#$!6:22%3%'*-!2+&&!924+&*>'+'3! +! .,-'.1%! 5#$! +',%'*$%$-!/0,-$1%.! +'2-!*-!'9,%$%'*-!4-.2)6>6-&.-$'%!+!.1:&&%3-'!%,!*-!5#$.&%3!.:6!,+!&)33-$!+!4-2)'1%'*-2<!F%66%!.%1! 3)&&-$! 6#7&+38-2-'! %22! #,-$1&%3%! 4-.&92! :6! %22! 924+&*'+'3-'! .1%!9//8#$%! :6! -&-,-'! +'2-! 8%$! 5#$92.)22'+'3%$! %22! 1&%$%! 924+&*'+'3-'!-&&-$!+'2-!3#$!2+&&5$-*..2)&&%'*-!5$%6.2-3<!

N+! 5#$-.&0$! -6-&&-$2+*! %22! 4-.&92! :6! %22! 924+&*'+'3-'! 9//8#$!-52-$! -'! .%66%'&%3*! 9'*-$,+.'+'3.2+*! /0! 2,0! 0$! .1%! 19''%! #,-$>1&%3%.<!=-2! 5#$-.&0.! ),-'! 3)&&%! 5#$! 4-.&92! :6! %22! $)22-'! %22! *-&2%! +!924+&*'+'3-'!9//8#$!8-&2!5($%!0$!-52-$!5#$.2%!30'3-'!/-$.:'-'!5:&1>4:15#$*-.! +! -'! 1:669'<! i22-$.2! 8%'*&%$! *-22%! :6! %22! $)22-'! 2+&&!924+&*'+'3! 1%'! ),-'2($%.! %,! %22! -'! 89,9*6%'! 4-.&92%$! %22! 924+&*>

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

"A!

'+'3-'!.1%!9//8#$%!5#$!2+*+32<!=-2!1%'!6-*!%'*$%!:$*!5+''%.!6-'+'3.>.1+&7%12+38-2-$!:6!$)22-'!2+&&!*-'!3%$%'2-$%*-!9'*-$,+.'+'3.2+*-'<!!

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

?F" QJ/%)41)/1*+,''*/1*+,-&./)%01&1,1)*789*,6%(:++%0-(1-/+**

-%&'()*O!• C'*$+'3%$'%!+!.1:&&%3-'!.1%!2$)*%!+!1$%52!*-'!?!79&+!IJ?I<!!

• "#$!*-'!.:6!5:&14:15#$2.!+!-'!1:669'!5#$-!*-'!?!79&+!IJ?I!6-'!+'2-!2+*+3%$-!*-&2%3+2!+!.,-'.19'*-$,+.'+'3!5#$!+',%'*$%$-!9//8#$!$)22-'!%22!/04#$7%!924+&*'+'3-'!*-'!?!79&+!IJ?W<!

• "#$! *-'! .:6! 5#$-! *-'! ?! 79&+! IJ?I! 8%$! /04#$7%2! .,-'.1>9'*-$,+.'+'3!5#$! +',%'*$%$-!9//8#$!$)22-'!%22!*-&2%! +!924+&*>'+'3-'!*-'!?!79&+!IJ?B<!

!=-! 5#$5%22'+'3.5#$.&%3! .:6! 5#$-.&0.! +! 4-2)'1%'*-2! )$! +'2-! .)$.1+&2!:65%22%'*-! ,+&1-2! 2%&%$! 5#$! %22! *-! 4#$! 19''%! 2$)*%! +! 1$%52! $-&%2+,2!.'%$2<!F%62+*+32! +''-4)$!5#$.&%3-'!5#$)'*$+'3%$!.:6!/0,-$1%$!40*-!924+&*'+'3-'!+!.,-'.1%!5#$! +',%'*$%$-!:;8!*-'!3$9'*&)33%'*-!,9R-'>924+&*'+'3-'<!d:669'-$'%!1%'!*)$5#$!4-8#,%!-'!,+..!5#$4-$-*-&.-2+*!

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

"?!

5#$!*-22%<!F%66%!.%1!3)&&-$!%&&%!*-!+',%'*$%$-!.:6!4-$#$.!%,!5#$.&%3-2<!=-2!)$!*)$5#$!$+6&+32!%22!4-.2)66-&.-$'%!+'2-!2$)*-$!+!1$%52!5#$-!*-'!?!79&+!IJ?I<!!

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

"#$!-'!/-$.:'!.:6!5#$-!*-'!?!79&+!IJ?I!8%$!/04#$7%2!.5+!5#$-.&0.!$)22-'!%22!*-&2%!+!924+&*'+'3-'!9//8#$%!*-'!?!79&+!IJ?B<!=-2!6#7&+3>3#$!),-'!5#$!*-''%!3$9//!%22!50!-'!.%66%'8)'3%'*-!924+&*'+'3.2+*!/0!6+'.2!2,0!0$!6-*!6#7&+38-2!%22!3#$%!-22!0$.!%,4$:22<!!

?FD R/97J/+*(J*,1:7%;(+,71*J,-*$J/%)41)/1*+,''*/1*+,-&./)%01&1,1)**

-%&'()*O!• F1:&,-$1-2! 50$! +! 9//*$%3! %22! 2+&&.)22%! -'! %$4-2.3$9//!6-*!9//>

*$%3!%22!2%!5$%6!-'!+'5:$6%2+:'..2$%2-3+!5#$!89$!60&3$9//-'!.1%!+'5:$6-$%.!:6!*-!'(%! $-3&-$'%! +! .%64%'*!6-*! 2+*.4-3$)'.>'+'3-'!%,!924+&*'+'3-'!+!.,-'.1%!5#$!+',%'*$%$-<!!

• F1:&,-$1-2!.1%!.%6$0*%!6-*!F,-$+3-.!d:669'-$!:;8!e%'*.>2+'3!,+*!2+&&.)22%'*-2!%,!%$4-2.3$9//-'<!

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

<=>*?@AABAC* #$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)*

*

*

"H!

"#$!%22!6+'+6-$%!*-..%!$+.1-$!4#$!6%'!2+*+32!.-!#,-$!89$!+'5:$6%>2+:'-'!:6!*-2!'(%!.(.2-6-2!4).2!'0$!60&3$9//-$'%<!H)$!6%'!3#$!*-2!4#$! 6%'! +'2-! 5%.2'%! +! 3%6&%! 2)'1-.)22! :6! 89$! 6%'! +'5:$6-$%$<!T$5%$-'8-2-'!.)3-$!:..!%22!6%'!%&&2+*!60.2-!1)''%!2+&&!-'!60&3$9//.!.)22! %22! 2%! 2+&&! .+3! +'5:$6%2+:'! 5#$! %22! '0! 5$%6! 2+&&! *-'<!\9$! &)'3-!6%'! ,%$+2! +! F,-$+3-D! 924+&*'+'3.4%13$9'*D!6:*-$.60&! :;8! 1#'D! )$!5%12:$-$!.:6!60.2-!2)'1%.!+'<!g$9//-'!+',%'*$%$-!)$!79!.:6!,+!,-2!6(;1-2! 8-2-$:3-'<! L-'! +'2-! 4%$%! *-2<! N+12+32! )$! :;1.0! %22! 6%'!.1%55%$!.+3!-'!9//5%22'+'3!:6!/0!,+&1%!.)22!/-$.:'-$'%!+!60&3$9//>-$'%! ':$6%&2! 2%$! 2+&&! .+3! %''%'D! 6-$! /$+,%2! +'5:$6%2+:'<! T'! 5$03%!6%'!1%'!.2)&&%!.+3!*0!)$!2<-R<!,+&1%!j-44>/&%2.-$!.:6!:&+1%!3$9//-$!+',%'*$%$-!:52%!4-.#1-$<!L-*!19'.1%/-$!:6!*-2!.19&&-!6%'!19''%!&)33%! +'! &)'1%$!6-*! +'5:$6%2+:'! :6! 2+*.4-3$)'.'+'3-'! /0! .0*%'%!j-44/&%2.-$<!T52-$.:6! 5#$.&%3-2! 2+&&!2+*.4-3$)'.'+'3! 3)&&-$! %&&%! '(%'>&)'*%!60.2-!6%'! :;1.0! 9//6)$1.%66%! ,+12-'! %,! %22! +'5:$6%2+:'-'!3#$.! 2+&&3)'3&+3! 5#$! /-$.:'-$! .:6! 2+&&! 5#&7*! %,! 59'12+:'.'-*.)22'+'3!4-8#,-$!-'!%'/%..%*!+'5:$6%2+:'<!E'5:$6%2+:'-'!60.2-!),-'!3#$%.!2+&&3)'3&+3!5#$!%'%&5%4-2-$<!

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d:669'-$! :;8!e%'*.2+'3!KFdeM!-'!.7)&,1&%$2!,+12+3!/%$2!+!-22!1:66%'*-!+'5:$6%>2+:'.%$4-2-<!

TR-6/-&!/0!%'*$%!%12#$-$!.:6!*-2!1%'!5+''%.!.1)&!%22!+',:&,-$%!+!-22! 1:66%'*-! +'5:$6%2+:'.%$4-2-! )$! V$4-2.5#$6-*&+'3-'D! &)'..2($>-&.-$'%!:;8!L+3$%2+:'.,-$1-2<!V$4-2.5#$6-*&+'3-'!8%$!-22! %'.,%$! 5#$!-2%4&-$+'3.$-5:$6-'D!.:6!)$!,+12+3! +! .%66%'8%'3-2<!e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

#$%&'()*+,''*+,-&./)%01&1,1)*2*3+)41)&5316+/%*789*3+:7%;1,1)* <=>*?@AABAC*

*

*

"!!

N+! 5#$-.&0$! %22! F1:&,-$1-2! 50$! +! 9//*$%3! %22! 2+&&.)22%! -'! %$4-2.>3$9//!4-.20-'*-!%,!5#$!9//3+52-'!$-&-,%'2%!%12#$-$!6-*!9//3+52!%22!2%!5$%6!-'!+'5:$6%2+:'..2$%2-3+!5#$!89$!+'5:$6%2+:'-'!:6!-'!2+*.>4-3$)'.'+'3!%,!924+&*'+'3-'!+!.,-'.1%!5#$!+',%'*$%$-!.1%!925:$6%.!.0! %22! *-'! '0$! *-'! %129-&&%! 60&3$9//-'<! F1:&,-$1-2! 4#$! .%6$0*%!6-*!F,-$+3-.!d:669'-$!:;8!e%'*.2+'3!KFdeM!+!*-22%!%$4-2-<!!

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

!"#$%&' (%)' *))' +"))*' %,' -&",+' ./&' ,"&' %,' ,0*,1",(' 2,3*,(&*&%' +$*'$4,,*'5/&6*' 1"+*' +.2' +*7)' &%-1%&*'84&' 1",-%'7*,'+%(*,' .9&'8911*':9'./&'*))'.1%&'+$*'.9'%,'./&+)*';#8'+,*55'-&4,('2'(%)'+3%,+$*'+:&9$%)<'=3*&%)' "&',%6>'?%)'$&"3+' %,'8%1'(%1' 0))%&12-*&%' ./&' *))'/,+$*(%'791'+$*'4::,9+@'59(%',"&'(%)'-"11%&'+6"13*'4)521(,2,-%,';#8':9'321$%)'+"))'4,(%&32+,2,-%,'$*,'$;752,%&*+';#8'$;7:1%))%&*+'7%('*,,*)'A'59(%'4,(%&'+.2B)2(%,';#8'("&%.)%&>'

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

?%))*'"&'.&9-;&'+;7'$;77%&'*))')*+'4::'2'(%))*'$*:2)%1';#8'+;7'"&'*3'*3-/&*,(%'5%)0(%1+%'./&'*))')2(+5%-&",+,2,-%,'+$*'1%(*')211'%,'%..%$)232+%&*('4)521(,2,->'C/&+1*-%)')211')2(+5%-&",+,2,-'5/&'+%+'+;7'%,'(%1&%.;&7'+;7'+)"11%&'$&*3':9'*))';#$+9'*,,*)'&%.;&7%&*+>'

!"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

?@< 90%(.+1,0102(0&AB,/(&10%1+1%5$C1,(.$,&

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

C/&' *))' %,' )2(+5%-&",+,2,-' +$*' .4,-%&*' $&"3+' ("&4)/3%&' *))' (%)'-/&+' $;,)2,4%&12-*' (;$47%,)%&*(%' *3+)"7,2,-*&' +;7' 32+*&' 321$%,')2(' +;7' ./&5&4$*)+' ;#8' 3*(' +;7' 4::,9))+' 4,(%&' (%,' )2(%,>' H))'2,(232(4*12+%&*'4,(%&32+,2,-%,'"&'%))'+)%-':9'3"-%,')211'%,'%..%$)23*&%'4)521(,2,-@'%,'4)521(,2,-'+;7'1%(%&')211'*))'.1%&'",'2'(*-'.9&'%,'+,*55'-&4,('2'(%)'+3%,+$*'+:&9$%)>''

?@<@< D(0&10%1+1%5(CC$&,/5%1(EC$0(0&(//&+14/12/&+(.4/F2&

!"#$%&'!"• =$;13%&$%)'.9&'2'4::(&*-'*))')*'.&*7'*117",,*'&9('./&'84&'(%,'

2,(232(4%11*'+)4(2%:1*,%,'$*,'*,3",(*+'+;7'3%&$)0-'./&'*))' 2'8/-&%'-&*('2,(232(4*12+%&*'4)521(,2,-%,'2'+3%,+$*'./&'2,3*,(&*&%>'

• =$;13%&$%)'+$*'"3%,')*'.&*7'*117",,*'&9('./&'84&'%,':%&+;,+'2,1"&,2,-+./&4)+")),2,-*&'$*,'5%(/7*+>'

'I' ./&;&(,2,-%,' JKLLMNOLPQ' ;7' +3%,+$4,(%&32+,2,-' ./&' 2,3*,(&*&%'.&*7-9&'*))'+.2'+$*'321*':9'(%'-&4,(1"--*,(%'3"&(%,'+;7'*,-%+'2'1"&;B:1*,%,' ./&' (%' .&232112-*' +$;1.;&7%&,*' JR:.' LMQ>' I' 1"&;:1*,%,' 4,(%&B+)&0$+'*))'4,(%&32+,2,-%,'+$*'*,:*++*+')211'3*&6%'%1%3+'./&4)+")),2,-*&@'5%8;3' ;#8' $4,+$*:+791' ;#8' *))' +"&+$21(' 8",+0,' +$*' )*+' )211' (%1B)*-*&%' +;7' *3' ;12$*' *,1%(,2,-*&' 8*&' +39&2-8%)%&' *))' ,9' 791%,' ./&'4)521(,2,-%,>' ?%)' +)"11+' 7%(' *,(&*' ;&(' 8/-*' $&*3' :9' *))' 4,(%&B32+,2,-%,'+$*'3*&*'2,(232(4%11)'4).;&7*(>''

S,(%&' 9&%,+' 1;::'8*&' +.2' 9)%&$;77*,(%'$&2)2+%&*)+' ./&' *))' (%1B)*-*&,*+' 2,(232(4%11*' ./&4)+")),2,-*&';#8'%-,*' +)&*)%-2%&' 2,)%' *11)2('8*&'3*&2)'4)-9,-+:4,$)%,'2'4)521(,2,-%,+'4).;&7,2,-';#8'2,,%8911>'

!G'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

=93"1' )2(2-*&%' 4)&%(,2,-*&' +;7' .;&+$,2,-' 8*&' :%$*)' :9' 5%8;3%)' *3'*))'2'8/-&%'-&*(')*')2113*&*'(%1)*-*&,*+'%&.*&%,8%)%&';#8'&%+4&+%&>'

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

F,')2(+5%-&",+,2,-'*3'+.2'+"))%&'.;$4+':9'5%8;3%)'*3'%,'2,(232(B4%11' 4,(%&32+,2,-@' %.)%&+;7' %,' *,:*++*(' +)4(2%-9,-' "&' %,' ./&4)B+")),2,-' ./&' *))' %,' +.2B(%1)*-*&%' +$*' $4,,*' $;77*' +9' 19,-)' +;7'7/612-)'4,(%&'+.2B)2(%,>'?%'5&2+)%&'+;7'.&*7$;77%&'2'=$;12,+:%$B)2;,%,+'&*::;&)'5%8/3%&'("&./&'9)-"&(*+'./&'*))'%,')2(+5%-&",+,2,-'2,)%'+$*'.9',%-*)23*'%..%$)%&'./&'32++*'+.2B(%1)*-*&%>'

C&9,';#8'7%('(%,'K'6412'TUKT'$;77%&'(%)'*))'3*&*';512-*);&2+$)'7%(' 2,(232(4%11*' +)4(2%:1*,%&' 2,;7' +.2B4,(%&32+,2,-%,>' =)4(2%B:1*,%,' +$*' 4::&"))*+' 2' ,"&*' *,+14),2,-' )211' *,)*-,2,-%,' ;#8' 32('5%8;3'&%32(%&*+>'I'&%-%&2,-%,+':&;:;+2)2;,'?%,',0*'+$;11*-%,'A'C/&'$4,+$*:@' 3*1.&28%)' ;#8' )&0--8%)' J:&;:>' TUUL\KUNK]PQ' .&*7-9&' *))'

'K'=$;12,+:%$)2;,%,+'&*::;&)'TUKUNX>'

!!'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

:1*,%,' +$*' 2,,%8911*' 4::-2.)%&' ;7' (%,' %,+$21(%+' 4)521(,2,-+791';#8':1*,%&*(';7.*)),2,-'*3'+)4(2%&,*' 12$+;7'(%,'%,+$21(%+'5%8;3@'/,+$%791';#8'./&4)+")),2,-*&>'?%,'2,(232(4%11*'+)4(2%:1*,%,'$;77%&'+91%(%+'*))'512'%))'32$)2-)'3%&$)0-'32(':1*,%&2,-%,'*3'84&'+.2B4,(%&32+B,2,-%,'+$*' 1"--*+'4::>'C/&'*))'(%,'+$*'.4,-%&*':9'%))'5&*' +"))'$&"3+'"3%,'*))'(%,'./16+'4::'&%-%154,(%)>'

C/&'*))'(%))*'3%&$)0-'+$*'.4,-%&*':9'%))';:)27*1)'+"))'./&%+19&'32'*))' =$;13%&$%)' .9&' 2' 4::(&*-' *))' )*' .&*7' *117",,*' &9(' ./&' 84&' (%,'2,(232(4%11*'+)4(2%:1*,%,'$*,'*,3",(*+'+;7'3%&$)0-'./&'*))'2'8/-&%'-&*('2,(232(4*12+%&*'4)521(,2,-%,'2'+3%,+$*'./&'2,3*,(&*&%@4)2.&9,'(%'5&2+)%&'+;7'.&*7$;77%&'2'=$;12,+:%$)2;,%,+'&*::;&)>''

C/&' *))' +)4(2%:1*,%,' +$*' $4,,*' .4,-%&*' +;7' %))' 5&*' 3%&$)0-'79+)%'(%,'4::&"))*+'2'%))'+9')2(2-)'+$%(%'+;7'7/612-)@'321$%)'$&"3%&'%,')2(2-'$*&)1"--,2,->'I'(%,,*'./&+)*'$*&)1"--,2,-'+$*'2,)%'5*&*'(%,'%,+$21(%+'5*$-&4,(@'5%8;3';#8'/,+$%791'2'7%&'-%,%&%11'5%7"&$%1+%'3*&*' %,'4)-9,-+:4,$)>'F,' )2(2-' 5%(/7,2,-' *3' 2,1"&,2,-+./&4)+"))B,2,-*&,*'79+)%'"3%,'-/&*+>''

E2'8*&'4,(%&'39&)'*&5%)%'7%('4)&%(,2,-%,'$4,,*)'+%'32$)%,'*3'*))'+9(*,*'5%(/7,2,-*&'-/&+@'8%1+)':9'(%,'%,+$21(*':%&+;,%,+'7;(%&+791@'7%,'32'8*&';#$+9' .9))'79,-*'5%1"--'./&'*))'(%))*'"&'%,'70#$%)':&;B51%7*)2+$'4::-2.)>'I'4::(&*-%)')211'=$;13%&$%)'5/&'("&./&';#$+9'2,-9'*))' )*' .&*7' *117",,*' &9(' ./&' 84&' %,' :%&+;,+' 2,1"&,2,-+./&4)+"))B,2,-*&'$*,'5%(/7*+>'

?@<@: DH45A(0/$/1H0&$+&+$%&,HA&5EE0B//,&50%(.&5/'1C%0102,/1%(0&

!"#$%&'!"• C/&' (%1)*-*&%' +;7' 2,)%' .9))' -;($",)' 5%)0-' :9' ?B,239' %.)%&'

*3+14)*(' 4)521(,2,-+)2(' +$*' (%' 4)521(,2,-+791' +;7' 4::,9))+'4)2.&9,'(%,'2,(232(4%11*'+)4(2%:1*,%,'(;$47%,)%&*+'2'%))'2,)0->''

• S::,9((*'4)521(,2,-+791'+$*'"3%,'(;$47%,)%&*+'32('*35&;))>'

'I' ./&;&(,2,-%,' JKLLMNOLPQ' ;7' +3%,+$4,(%&32+,2,-' ./&' 2,3*,(&*&%'.&*7-9&'*))'1"&*&%,'+$*'+"))*'5%)0-',"&'%,'%1%3'8*&'*3+14)*)'%,'$4&+>'^%)0-%)'+;7'-%+'$*,'*,)2,-%,'3*&*'Y;($",)'JYQ'%11%&'E"1'-;($",)'JEYQ>'G7'%,'%1%3'2,)%',9&'4::')211',239,'./&'5%)0-%)'Y;($",)'+$*'2'+)"11%)'%))'2,)0-'4)."&(*+'+;7'32+*&'3*('%1%3%,'$*,'2'./&8911*,(%')211'$4&+%,+'791>'F,12-)'=$;13%&$%)+'./&%+$&2.)%&'J=_GRC='TUUONOKQ'+$*'

!I'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

59(%'5%)0-';#8'2,)0-'./&*+'2,'2'5%)0-+$*)*1;-%,'2'*,+14),2,-')211'*))'%,'$4&+'*3+14)*)+>'!%(*,'2'(*-'4)."&(*+'+91%(%+'59(%'5%)0-';#8'2,)0-',"&' %,' $4&+' 8*&' *3+14)*)+>' =9' $;77%&' ;#$+9' 512' .*11%)' 32(' %,' )2(+B5%-&",+,2,-'*3'+.2>''

[%(' %,' )2(+5%-&",+,2,-' *3' +.2'79+)%' %,' *3+)"7,2,-' %7%11%&)2('"3%,'-/&*+',"&'4)521(,2,-+)2(%,'"&'+14)>'?%))*';*3+%))';7'%,'$4&+'"&'*3+14)*('%11%&'*11)6"7)':9-9&>'`"&'512&'(%)'*11)+9')2(%,'2'+2-'+;7'*3-/&',"&'%,'*3+)"7,2,-'+$*'-/&*+@'2,)%',"&'%,'$4&+'"&'*3+14)*(>'C/&4);7'(%'5%)0-';#8'%3%,)4%11*'2,)0-'+;7'4)."&(*)+'4,(%&':%&2;(%,'79+)%'"3%,' (%' $4,+$*:%&' +;7' ./&3"&3*)+' 4,(%&' (%,' :9-9%,(%' ;#8' ",,4'2,)%'*3+14)*(%'$4&+%,'(;$47%,)%&*+>''

I'=)*)+$;,);&%)+'-&*,+$,2,-'*3'=$;13%&$%)+'+)*)2+)2$@'+;7'&%(;B32+*+',"&7*&%' 2'$*:>'P@' .&*7-9&'*))'%1%3%,+' ./&+)'3*1(*'+)4(2%3"-'"&'(%,'2,.;&7*)2;,'+;7'%,+*7)'+"-%&'7%+)';7'84&'19,-'%1%3%,+'+)4(2%)2('$*,'$;77*'*))'512>'?%,'3*1(*'+)4(2%3"-%,'4::-%+'-%'%,'7%&')&"..+"$%&':&;-,;+' ./&' +)4(2%)2(%,+' 1",-(' ",' )>%D>' 4)521(,2,-' %11%&'7;(%&+791>'?%)'32+*&'+2-'+)"77*'7%('(%'4::-2.)%&'32'.9))'.&9,'=$;13%&$%)'*3+%B%,(%' +)4(2%3"->'H3'(%7' +;7'9&' TUUP':95/&6*(%' +)4(2%3"-'W' J$4&+'?Q' 8*(%' XO' :&;#%,)' $1*&*)' ?B,239,' %.)%&' )39' 9&' ;#8' *3' (%7' +;7':95/&6*(%' +)4(2%3"-' W' J$4&+' VQ' 8*(%' MT' :&;#%,)' $1*&*)' ?B,239,'%.)%&')39'9&>'[;)+3*&*,(%'&%+41)*)'./&'(%7'+;7'5/&6*(%':9'+)4(2%3"-'T'J$4&+'VQ'3*&'WT':&;#%,)>'I,)&%++*,)'*))',;)%&*'"&'"3%,'*))',2;':&;B#%,)'*3'(%7'+;7':95/&6*(%'+)4(2%3"-'K'J$4&+'HQ'8*(%'4::,9))'?B,239,' %.)%&' )39' 9&>' =)*)2+)2$%,' )*1*&' ./&' *))'7%&:*&)%,' *3' (%7' +;7':95/&6*&'+.2':9'+)4(2%3"-'W'$;77%&'*))',9'?B,239,':9')39'9&>'?%++*':%&+;,%&'$;77%&'"3%,'32('%,')2(+5%-&",+,2,-'*))' .9'%))'5%)0-'("&'(%))*'.&*7-9&>''

C/&'(%1)*-*&%'+;7'2,)%'.9))'-;($",)'5%)0-':9'?B,239'%.)%&'*3+14)*('4)521(,2,-+)2('./&%+19&'32'*))'(%'+:&9$$4,+$*:%&'+;7'./&3"&3*)+'4,(%&':%&2;(%,'+$*'(;$47%,)%&*+'2'%))'2,)0->'C/&+1*-%)'./&%+19+'&%-1%&*+'2'./&;&(,2,->''

?%)'"&'%))'.*$)47'*))'32++*'+.2B(%1)*-*&%'*35&0)%&'4)521(,2,-%,'2'./&)2(>' F,' (%1' *35&0)%&' 8%1)' ;#8' 8911%)' ;#8' *,(&*' -/&' $*,+$%' %))'4::%8911>'?%)' $*,'5%&;':9';12$*' +*$%&@' )>%D>' *))'7*,' .9&' *&5%)%@' "&'./&"1(&*1%(2-' %11%&' *))'7*,'512&' +64$'4,(%&' %,' 1",-&%' )2(>'a3%,';7'(%)'.2,,+'*,1%(,2,-'*))')&;'*))'%,')2(+5%-&",+,2,-'7%('7/612-8%)%&')211'4::%8911'$;77%&'*))'72,+$*'(%' ./&)2(*'(%.2,2)23*' *35&;))%,'"&'(%)'2,)%'&2712-)'*))'*,)*'*))'*11*'$;77%&'*))'.411./16*'4)521(,2,-%,'2'%))' +3%:>'?%)'"&'("&./&'32$)2-)'*))'"3%,'(%'+;7'*35&0)%&'+.2B4,(%&B32+,2,-%,'.9&'+2,*'./&3"&3*(%'+:&9$."&(2-8%)%&'(;$47%,)%&*(%>'_*,+$%'9)%&4::)*&'7*,'4,(%&32+,2,-%,';#8'(9'"&'70#$%)'34,,%)':9'*))'4,(%&B

!>'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

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

I'(%))*'+*77*,8*,-'"&'(%)';#$+9'32$)2-)'*))'4,(%&+)&0$*'5%)0(B%1+%,'*3'*))'+$*:*'%,'$;,)2,42)%)'4,(%&'4,(%&32+,2,-+)2(%,'+9'*))'%))'4::%8911'2'+2-'2,)%'5%8/3%&'5%)0(*'%,';,/(2-')2115*$*-9,-'2'+:&9$4)B3%#$12,-%,>'F,' 32$)2-' .&9-*'512&' (9'84&' ./&3"&3*(%' +:&9$$4,+$*:%&'$*,'4::&"))8911*+'4,(%&'%))'4::%8911>'?%))*'"&',9-;)'+;7')*+'4::'2'*3+,2))%)';7'.1%D25%1'4,(%&32+,2,-'1",-&%'.&*7'2'(%))*'$*:2)%1>''

H3',*)4&12-*'+$"1'$*,'(%)'3*&*'+39&)'*))' 2' ./&3"-'$4,,*'3%)*';7'(%)'8*,(1*&';7'%))':%&7*,%,)'*35&;))'%11%&'%))'4::%8911>'[%,'7%(')0(12-*'&%-1%&';7'84&'1",-%'(%)'"&')2119)%)'*))'-/&*'4::%8911'$*,'7*,'*,)*'*))';./&4)+%((*'*35&;))'$;77%&'*))'72,+$*')211'./&79,'./&'7%&':1*,%&*(%'4::%8911>'?%))*'$*,'2'+2,')4&'/$*'7/612-8%)%,')211'.&*7./&B8911,2,-'8;+'$;774,%,>'

?@<@? J0E$,,$%&50%(.+1,0102&HK)&,/*%10,$/,(.&50%(.&,-1&&

!"#$%&'!"• =$;13%&$%)' .9&' 2' 4::(&*-' *))' 2' +2))' $;77%,)*&7*)%&2*1' )211'

$4&+:1*,%,'./&'4)521(,2,-'2'+3%,+$*'./&'2,3*,(&*&%')0(12--/&*'*))'4)521(,2,-%,'+$*'$4,,*'$;752,%&*+'7%('*$)232)%)%&' +;7'%&564(+'2,;7'8"1+;B';#8'+64$39&(%,>'

'?%1)*-*&,*' 2' 4)521(,2,-' 2' +3%,+$*' ./&' 2,3*,(&*&%' "&' %,' 8%)%&;-%,'-&4::'7%(';12$*'4)521(,2,-+5*$-&4,(';#8'$41)4&%11*'&%.%&%,+&*7*&>'F,'(%1'8*&'$;772)')211'=3%&2-%'+;7'.10$)2,-*&';#8'*,(&*'*3'.*7216%B+$"1>' =;712-*' $;77%&' .&9,' 1",(%&' 2,;7' FS' ;#8' *,(&*' .&9,' 7%&'*31"-+,*'3"&1(+(%1*&>'E2++*'8*&'$;772)'82)'./&'*))'*&5%)*';#8',9-&*'./&' *))' +)4(%&*>' ?%' +$2.)*,(%' 72-&*)2;,+;&+*$%&,*' 7%(./&' 3*&2B

I;'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

%&*,(%' 4::1%3%1+%&' ;#8' %&.*&%,8%)%&' +93"1' *3' 72-&*)2;,%,' +;7' *3'(%,'./&+)*')2(%,'2'=3%&2-%>''

?%)' "&' %))' .*$)47' *))' 32++*' :%&+;,%&' 5%8/3%&' +"&+$21(*' +)/(B2,+*)+%&' 4,(%&' +.2B)2(%,' ./&' *))' $4,,*' )211-;(;-/&*' +2-' 4,(%&32+B,2,-%,>'?%)'-"11%&'.&*7./&'*11)'(%'+;7'$;772)')211'=3%&2-%'+;7'.10$)B2,-*&>'C/&%$;7+)%,'*3')&*47*)2+$*'4::1%3%1+%&' 12$+;7';12$*' )0:%&'*3'+)&%++&%1*)%&*(%':&;51%7'"&'*3',*)4&12-*'+$"1'3*,12-*&%'2'(%,,*'-&4::'6"7./&)'7%('/3&2-*>''

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

?%)' ./&%$;77%&' &%(*,' 2' (*-' 8"1+;2,&2$)*(%' 2,+*)+%&' 2,;7' +.2>'F))'%D%7:%1'"&'Y/)%5;&-'("&'+.2'%&564(+'2'+"&+$21(*'-&4::%&'./&'(%7'+;7'8*&')&*47*)2+$*'4::1%3%1+%&'5*$;7'+2->'R2$*+9'.2,,+'%))'+"&+$21)'8"1+;+:9&'2'51*,('*,,*)'b&%5&;@'c;&&$/:2,-';#8'S::+*1*@'("&'7*,'7%(' 4)-9,-+:4,$)' .&9,' (%1)*-*&,*+' 8"1+;+2)4*)2;,' %&564(%&' ;12$*')0:%&'*3'8"1+;.&"76*,(%'2,+*)+%&'2,;7'+.2B4,(%&32+,2,-%,>'?%)'$*,')>%D>' 8*,(1*' ;7' *))' 4,(%&32+,2,-%,' 5%(&23+' 4)*,./&' $1*++&477%)@'*))'7*,' )*&'-%7%,+*77*':&;7%,*(%&'%11%&' *))'4,(%&32+,2,-%,'$;7B

'T'[*17/'8/-+$;1*@''C;S'!*::;&)'TUULNP>'

I<'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

52,%&*+'7%('*3+1*::,2,-+/3,2,-*&'%11%&'1"))*&%'.0+2+$*'/3,2,-*&>'[",B,2+$;&'+;7'9)%&.2,,+'2'(%++*')0:%&'*3'3%&$+*78%)%&'4::1%3%&';.)*'*))'(%':9';12$*'+"))'8*&'./&1;&*)'$;,)&;11%,'/3%&'+2,'123++2)4*)2;,';#8'8*&'+39&)' ./&' *))' 82))*' +2,' ,0*' &;11' 2' (%)' ,0*' 1*,(%)>' d&0--8%)@' )&23+%1@'72,(&%'-&4::%&' 12$+;7'.*+)*' &*7*&' "&'(9' *3' +);&'5%)0(%1+%>'H,(&*'32$)2-*' 2,+1*-' "&' )>%D>' $4,+$*:%&' ;7' %-%,39&(' ;#8' ;7' 84&' (%)'+3%,+$*'+64$39&(++0+)%7%)'.4,-%&*&>''

F))' 9)%&$;77*,(%' :&;51%7@' +;7' 8*&' 5%+$&232)+' ./&' ;++' 4,(%&'39&*'+)4(2%5%+/$@'"&':%&+;,%&'+;7'8*&'%,'7%&'(2..4+';8"1+*'("&'(%)'"&'+39&)'*))'3%)*'321$*' 2,+*)+%&'+;7'%-%,)12-%,'+$411%'5%8/3*+>'[*,'-/&'2,)%'.&*7+)%-'7%,'$;77%&'*11)6"7)')211'+$;1*,>'`"&'"&'(%)'+"&B+$21)' 32$)2-)' *))' %,' ./&(64:*(' $*&)1"--,2,-' -/&+' +9' *))' :%&+;,%,' 2'.&9-*'2,)%'5*&*'+2))%&'*3'+2,'+.2B)2(>'=*73%&$*,'7%('8"1+;B';#8'+64$B39&(%,' 79+)%' (9' 2,-9' +;7' %))' ,*)4&12-)' 2,+1*-' ;#8' :9-9' :*&*11%11)'7%(' +)4(2%&,*>' ?%' ;3*,' 5%+$&23,*' 8"1+;2,&2$),2,-*&,*' )0#$+' 3*&*'.&*7-9,-+&2$*'+"))'*))'8*,)%&*'+)&%++&%1*)%&*(%':&;51%7@';*3+%))';7'(%'5*$;712--*,(%';&+*$%&,*'"&'$",(*'%11%&'%6>''

c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

E9&' 4::.*)),2,-' "&' *))' 4,(%&32+,2,-%,'79+)%' *,:*++*+' )211'791B-&4::%,+' 5%8;3' 2' +9' +);&' 4)+)&"#$,2,-' +;7'7/612-)>'E2' )&;&';#$+9'*))'(%)' .2,,+'%,'4)3%#$12,-+:;)%,)2*1' 2,;7'(%))*';7&9(%@'321$%)'(%')2(2-*&%'5%+$&23,*'%D%7:1%,'32+*&>'G7'.1%&'$;774,%&'4)3%#$1*&'%,'8"1+;2,&2$)*('+.2'+$411%'+*,,;12$)'.1%&':%&+;,%&'+;7'4::1%3%&'72-&*B)2;,+&%1*)%&*(';8"1+*'.9'%,'4,(%&32+,2,-'+;7':*++*&'(%7>'

?%)'"&'32$)2-)'*))'59(%'1"$*&B';#8':+0$;1;-$;,)*$)%&'$*,'"-*'&47':*&*11%11)' 7%(' +.2B4,(%&32+,2,-%,' +9' *))' (%)' 2,)%' 512&' %))' 3*1' ./&' (%,'%,+$21(%'*))'*,)2,-%,'3*&*'$"&,.&2+$';#8'1"+*'+3%,+$*'%11%&'3*&*'+64$';#8'*3+)9>'?%)'8*,(1*&'2'+)"11%)';7'*))'+$*:*'./&4)+")),2,-*&'./&'*))'

I:'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

+9'79,-*'+;7'7/612-)'+$*'$4,,*'$;77*'+9'19,-)'+;7'7/612-)'2'+2,'+:&9$4)3%#$12,-' 4,(%&' (%,' )2(' +;7' +)9&' )211' ./&.;-*,(%@' 2' 3%)+$*:';7' *))' 32++*' 4,(%&' (%,,*' :%&2;(' 12(%&' *3' +)&%++&%1*)%&*(%' 8"1+;B:&;51%7>'?%)' "&' "3%,' 32$)2-)' *))' :+0$2*)&2,' $;77%&' 2,' 4,(%&' +.2B)2(%,':9'%))',*)4&12-)'+"))'12$+;7'$4&*);&+$;,)*$)%&';#8'*,(&*'+)/(B2,+*)+%&>'

?%)' .2,,+' &%(*,' 2' (*-'7/612-8%)%&' *))' 1"+*' 4)521(,2,-' 2' +3%,+$*'./&' 2,3*,(&*&%' )&;)+'*))'7*,'"&'+64$+$&23%,'%11%&'8*&' )2(+5%-&",+*('%11%&'5%+)9%,(%'+64$%&+")),2,->'?%)' .&*7-9&' 2'TT'$*:>'X'e' +$;11*-%,'JTUKUNOUUQ'("&'(%)'+"-+'*))'8434(7*,,%,'+$*'3%&$*'./&'*))'4)521(B,2,-' 2' +3%,+$*' ./&' 2,3*,(&*&%' $*,' 5%(&23*+' 4,(%&' )2(' ./&' 321$%,'%1%3%,'.9&'%&+")),2,-'.&9,'+64$./&+"$&2,-%,'%,12-)' 1*-%,'JKL]TNWOKQ';7' *117",' ./&+"$&2,->' ?%)' .&*7-9&' "3%,' *))' 4,(%&32+,2,-%,' +$*'$4,,*'$;752,%&*+'7%('*$)232)%)%&'+;7'%&564(+'2,;7'8"1+;B';#8'+64$B39&(%,>''

C/&'*))'0))%&12-*&%'5%);,*'3"&(%)'*3'*))'4,(%&32+,2,-%,'*,:*++*+')211'(%'+)/(2,+*)+%&'+;7'$*,'5%8/3*+@'./&%+19&'32'*))'=$;13%&$%)'.9&'2'4::(&*-'*))'2'+2))'$;77%,)*&7*)%&2*1')211'$4&+:1*,%,'./&'4)521(,2,-'2' +3%,+$*'./&' 2,3*,(&*&%' )0(12--/&*'*))'4)521(,2,-%,'+$*'$4,,*'$;7B52,%&*+'7%('*$)232)%)%&'+;7'%&564(+'2,;7'8"1+;B';#8'+64$39&(%,>'

()*+,#-&./#'&-0$&10/-2#.$/3.$4#56$1")./78.%/1$&#.0-.0.)21.$92-$6&.$&38:%%21;.

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`"&'$*,'+)4(2%./&54,(';#8'*,(&*'2(f54&,*';&-*,2+*)2;,%&'+:%1*'%,'32$)2-'&;11>'I',9-&*'*3'(%'$;774,%&'32'5%+/$)'8*&'7*,'8*.)')*,$*&':9' *))' 2' %,' 7%&' +)&4$)4&%&*(' .;&7' $,0)*' )211' +2-' .&232112-;&-*,2+*B)2;,%&'+;7'+*7)*1+:*&),%&'./&'+.2B(%1)*-*&,*>''

I?'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

E2++*'(%1)*-*&%'8*&'3*&$%,'+)4(2%&'%11%&' ./&3"&3+*&5%)%' ./&'/-;,%,'%.)%&'*3+14)*('+.2>'a3%,';7'39&'4)-9,-+:4,$)'"&'*))'(%)'+);&*'.1%&)*1%)'*3'+.2B(%1)*-*&,*';7.*))*+'*3'(%,'+>$>'*&5%)+12,6%,'-"11%&'(%)'2,)%'./&'*11*>'?%)'$*,')>%D>'8*,(1*';7'$32,,;&'+;7'*1(&2-'8*&'./&3"&3+*&5%)*)';#8' +;7' 5/&6*&' ,"&7*' +2-' :%,+2;,+91(%&,' %11%&' :%&+;,%&' +;7' )211'./16('*3'+64$(;7'+*$,*&'*&5%)+./&79-*>'F,';#8'*,,*,'$*,+$%' 2,)%'8%11%&'5%8/3%&'./&3"&3+*&5%)*'./&'+2,'./&+/&6,2,->'a3%,'8"&'$*,'2(fB54&,*';&-*,2+*)2;,%&'+:%1*'%,'32$)2-'&;11'+;7'1;)+*&'2,'2'(%)'+3%,+$*'+*78"11%)>''

=;#2*1*' 3%&$+*78%)%&' 4)-/&' ;#$+9' %))' 32$)2-)' $;7:1%7%,)' )211'4,(%&32+,2,-%,>'?%1)*-*&,*'1"&'$",,*'3*&*,(&*@'47-9+';#8'.9&':9'+9'+"))' %,' +;#2*1':1*)).;&7' 2'(%)',0*' 1*,(%)>'?%)'$*,' )>%D>'8*,(1*';7'#*.fB3%&$+*78%)%&@' 2(&;))+*$)232)%)%&' %11%&' *,(&*' +;#2*1*' *$)232)%)%&>'E2'8*&'(;#$'51232)'4::7"&$+*77*(%':9'*))'(%++*'+;#2*1*'*$)232)%)%&'251*,('$*,'./&1",-*')2(%,'2'+.2>'I'32++*'.*11'8*&'(&23$&*.)%,'*))'$;77*')211'+.2':&27"&)'8*,(1*)';7'*))'3*&*'(%1*$)2-'2'(%)'+;#2*1*',")3%&$'+;7'4)3%#$1*+':9'+$;1*,';#8'72,(&%';7'*))'1"&*'+2-'+3%,+$*>''

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

?@: L--(4/1+1,(.102&A(%&-H45,&EB&C3.$0%(/&HK)&C3.$.0$&&

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

IM'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

F))'7%&'.1%D25%1)'1"&*,(%'7%(')%$,2$%,+'86"1:'-%&'1"&*&%,'%,'(%1B32+' *,,*,' &;11@' +*7)2(2-)' +;7' 1"&*&%,' ,*)4&12-)32+' 79+)%' 8*' $4,B+$*:%&';7'84&'7*,'4,(%&32+*&'7%(')%$,2$%,+'86"1:>'?%))*'+)"11%&'2'+2,')4&'(%132+',0*'$&*3'59(%':9'1"&*&4)521(,2,-%,';#8':9'7/612-8%)B%&,*' )211' $;7:%)%,+4)3%#$12,->'S,(%&32+,2,-%,+' )211-",-12-8%)' ;#8'5%8;3%)'*3'7%);(+)/(';#8'*(%$3*)*'1"&;7%(%1'"&';#$+9'*3'+);&'32$)'./&' *))' (%)' +$*' 512' %,' 4,(%&32+,2,-' +;7' :*++*&' *11*' :9' 5"+)*' +"))>'d%$,2$%,'$*,'8"&'3*&*'*3'+);&)'3"&(%>'?%))*'"&'.&9-;&'+;7')*+'4::'2'(%))*'$*:2)%1>''

?@:@< NC(O1'(C/&C3.$0%(&HK)&/(4014(0,&A*PC12)(/(.&

<2)"3-0-'!"• F))'.1%D25%1)' 1"&*,(%'7%(')%$,2$%,+'86"1:'+)/(6%&';#8'4,(%&B

1"))*&'2,./&*,(%)'*3'%,')2(+5%-&",+,2,->'

• C1%D25%1' 4)521(,2,-'7%(' )%$,2$%,+' 86"1:' -%&'7/612-8%)%&' )211'%,'%..%$)23*&%'4)521(,2,-'+;7':9'%))'5"))&%'+"))'",' 2'(*-'$*,'*,:*++*+' )211' (%,' %,+$21(%+' 5*$-&4,(@' 5%8;3' ;#8' 2,1"&,2,-+B./&4)+")),2,-*&>'

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

[%('(%,')*$)'+;7')%$,2$%,'4)3%#$1*+'2'+*78"11%)'"&'(%)'2,)%'5*&*';.&9,$;712-)'4)*,';#$+9'/,+$3"&)'*))'(%,,*'4)3%#$12,-'.9&'-%,;7B+1*-' 2' 4,(%&32+,2,-' ;#8' 1"&*,(%>' d%$,2+$*' 86"1:7%(%1' ;#8' (2-2)*1*'1/+,2,-*&'5%&%(%&'3"-'./&'%))'/$*)'.1%D25%1)'1"&*,(%'7%('8/-&%'$3*12)%)>'[%(' .1%D25%1)' 1"&*,(%' 5&4$*&'7*,'7%,*' *))'7*,' 1"&' +2-' 4)*,' (2&%$)'52,(,2,-' )211' %,' .*+)' 4,(%&32+,2,-+1;$*1' %11%&' %,' .*+)1*-(' )2(' 2' %))'+#8%7*@'(3+>'1"&*,(%)'$*,'+$%'.&9,'%D%7:%132+'%,'(*);&'2'8%77%)'%11%&':9'%,'*117",':1*)+'+;7'%))'I,)%&,%)B#*.f>'

C1%D25%1)' 1"&*,(%' $*,' "3%,' 3*&*'7;521)>' F))'7;521)' 1"&*,(%' $*,'+"-*+'3*&*'%,'7%&'(0,*72+$';#8'&/&12-'.;&7'*3'.1%D25%1)'1"&*,(%'("&'1"&*,(%)' 2' 1"7:12-' 4)+)&"#$,2,-' +$%&' 32*' 7;521*' %,8%)%&' +;7' )211'

I"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

%D%7:%1' %,' 5"&5*&' (*);&@' %,'7;521)%1%.;,' %11%&' %,' +9' $*11*(' +4&.B:1*))*>' F,' $;752,*)2;,' *3'7;521)' ;#8' *,,*)'7%&' :1*)+54,(%)' 1"&B*,(%'-/&'*))'(%)'"&'1"))*&%'*))';:)27%&*'4)521(,2,-+2,+*)+%,'./&'3*&6%'%,+$21(' (%1)*-*&%>' _;752,*)2;,%,' $*,' (%++4);7' +%' ;12$*' 4)' ./&';12$*'$;774,%&'5%&;%,(%':9'(%'+)4(%&*,(%+'5%8;3>'

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

?%))*' 5%)0(%&' *11)+9' *))' ;*3+%))' 5*$-&4,(' ;#8' :%&+;,12-*' ./&B4)+")),2,-*&'$*,'7*,'7%(')%$,2$%,+'86"1:'.9'+)/&&%'7/612-8%)%&'*))'2,)%-&%&*' +2-' 2' (%)' ,0*' 8%71*,(%)>' F))' .1%D25%1)' 1"&*,(%' 7%(')%$,2$%,+'86"1:'52(&*&'+91%(%+')211'(%,'2,(232(4*12+%&2,-'+;7'"&',/(B3",(2-' ./&' *))' *752)2;,%&,*' 7%(' %,' )2(+5%-&",+*(' 4)521(,2,-' 2'+3%,+$*'./&'2,3*,(&*&%'+$*'2,.&2*+>'

(-)090)2-$.+28/9./78.3"=%0'8212#..

?%)' "&' 32$)2-)' *))' *11*' 2,3*,(&*&%@' ;*3+%))' +$"1%,' )211' 2,3*,(&2,-%,@'+,*55)'$;77%&'2,'2'(%)'+3%,+$*'+*78"11%)@'.9&'1"&*'+2-'+3%,+$*';#8'32(-*'+2,*'$4,+$*:%&';7'+*78"11%)>'[%(')%$,2$%,+'86"1:'$*,'(%,,*':&;#%++':9+$0,(*+';#8'*,)*1%)'(%1)*-*&%'+;7'10#$*+'7%('+2,*'+)4(2%&'512'*3+%3"&)'+)/&&%'%.)%&+;7')%$,2$%,'%&564(%&'+9'3*&2%&*,(%';#8'79,-B.*#%))%&*(%'7/612-8%)%&>'C/&'79,-*'$*,')%$,2$%,'(%++4);7'7%(./&*'

'W'^*1*,+$*)@'^1*72&%@'_%.*1*@'TUU]@'#$%"&'#"&()*+,"-%)./,0"12/.)%*3"4+$..53%,@'8)):N\\2,+2-8)>%4,>;&-\+8*&%(\(*)*\:(.\27:*#)g+)4(0>:(.@'V;D'7>.1>@' TUUW@'&'#"*36"*,,*738(%3,"9"*"/%:7%;".<",$%"/%=%*/+$"57,%/*,2/%0'^%#)*>'M'^&;(2,' 7>.1>@' TUUM@' >?/7=@0" */A" .+$" </2=,/%/*6" 9" -7@,*6" @.()%,%3=2,:%+@573A" <B/" =)%+7*58)%6*A.A%/" 73.(" &#74@' R"&*&8/-+$;1*,' 2' =);#$8;17>@' h&2;&' i' `*11@' TUUM@' &'#" 73" 4+$..5="42/:%?"CDDE@'^%#)*>.

IG'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

%,'+)/&&%'7;)23*)2;,'./&'2,1"&,2,-%,@'321$%)'"&'%,'%..%$)'+;7'.;&+$B,2,-%,'5%$&".)*&>P''

H11*' 8*&' 2,)%' +*77*' ./&4)+")),2,-*&' *))' 1"&*' +2-' +3%,+$*>' F))'7;521)'1"&*,(%';#8'.1%D251*'1/+,2,-*&'$*,'%7%11%&)2('/$*'7/612-8%)B%&,*'./&'%,'(%1)*-*&%'*))'.9'1"&*'+2-'+3%,+$*':9'%))'+"))'+;7'"&'*,:*++*)')211'(%'%-,*'./&4)+")),2,-*&,*>'?%))*'$*,'2'+2,')4&'/$*'2,(232(%,+'7/6B12-8%)%&'*))',9'+9'19,-)'+;7'7/612-)'4,(%&'(%,'4)+*))*'+)4(2%)2(%,>''

G5%&;%,(%'*3')2(';#8'&47'$*,'2,1"&,2,-%,'+$%'4,(%&'(%'./&'2,(2B32(%,'7%+)'-0,,+*77*';7+)",(2-8%)%&,*>'?%)'.2,,+'(%++4);7'7/6B12-8%)'*))'+6"13'3"16*'1",-(%,':9'+2,*'2,1"&,2,-+:*++@'1",-&%'%11%&'$;&)*&%>'C/&4)+")),2,-*&' *))' &%:%)%&*' ;#8' 4::&"))8911*' +2,*' $4,+$*:%&' 512&';#$+9' +)/&&%>'d211' ;#8'7%('$*..%&*+)%,' ;#8' 3",)*,' :9' 54++%,' %11%&')9-%)' $*,' 7*,' "-,*' 9)' +2))' 1"&*,(%>' ?%,' +;7' 8*&' %))' *&5%)%' ;#8'("&./&'8*&'+39&)'*))'-/&*'+2-'.&2'./&'4,(%&32+,2,-'2,;7'+.2'$*,'7%('7;521)'1"&*,(%'-%,;7./&*'+)4(2%&,*'2'*,+14),2,-')211'*&5%)%)'%11%&':9'.&2)2(%,@' 2'8%77%)'%11%&':9' *,,*,':1*)+>'h9' +*77*'+"))'4,(%&1"))*+'+)4(2%&'2'+.2'./&'(%,'+;7'5;&'2'-1%+50-('%11%&'"&'./&"1(&*1%(2->'

d%$,2$%,' 2,,%5"&' ;#$+9' +);&*' ./&(%1*&' ./&' 8434(7*,,%,@' +;7'$*,' .9' /$*(%'7/612-8%)%&' *))' %&564(*' %,' (2..%&%,)2%&*(' 4)521(,2,-'-%,;7' +*73%&$*,'/3%&' $;774,-&",+%&>'`"&' .2,,+' *11)+9' ,0*' +"))'./&' $;774,%&' A' ;#8' "3%,' &%-2;,%&' A' *))' +*7*&5%)*' $&2,-' ,0*,B1",(*+'4)521(,2,-'2'+3%,+$*'+:&9$%)>'

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

?%)'7;521*'1"&*,(%)':*++*&'*11)+9'5&*'./&'*))'-%,;7./&*'7%&'2,(2B32(*,:*++*(%'4)521(,2,-*&>'?%))*'"&',9-;)'+;7'"&'%D)&*'32$)2-)')>%D>',"&' (%' +)4(%&*,(%+'4)521(,2,-+,239' "&' 19->' I' +9(*,*' .*11' $*,'791%,'+"))*+';#8'3"-%,')211'791%,'+)*$*+'4)':9'*,(&*'+"))'",' 2'%,'7%&')&*B(2)2;,%11' 4,(%&32+,2,-++2)4*)2;,>' F&.*&%,8%)%&,*' +"-%&' *))' (%))*' "&',9-;)' +;7' ;#$+9' -0,,*&' *,*1.*5%)%&@' 321$%)' "3%,' 51232)' )0(12-)' ./&';++'4,(%&'39&*'+)4(2%5%+/$>''

'P'V;D'7>.1>@' TUUM@'F3" 73:%=,7A*,7.3" .<" ,$%" /%=%*/+$" %:76%3+%" /%5*,73A" ,." &'#" )%6*A.A?@' ^%#)*'IVd'!%+%*&#8@'V8*25'i'd%5%124+@'TUUM@'&#748=*,=373A%3"GHHH9CDDC"9"4*((*3<*,,373A"*:"6%3"3*,7.3%55*" 2,:I/6%/73A%3@'`/-+$;1*,' 2' j/,$/:2,-';#8'`/-+$;1*,' 2'`*17+)*(@'h*++%0'7>.1>@'TUUM@'#$%"(.,7:*,7.3*5"%<<%+,".<"&'#".3")2)75=J''

I!'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

E2(' %,' 7%&' )&*(2)2;,%11' +.2B4,(%&32+,2,-' 2' $1*++&47+.;&7' 7%('8%)%&;-%,*'-&4::%&'$*,'%,'(%1'3*&*'&"((*'./&'*))'0))&*'+2->'?%))*'"&',9-;)' +;7' 32' .9))' .1%&*' %D%7:%1' :9' 4,(%&' 39&*' +)4(2%5%+/$>' ?%)'.2,,+':%&+;,%&' +;7' 2,)%'3211' %11%&'39-*&'32+*'4::'+2,'5&2+)*,(%' ./&B79-*' 2' 4))*1' 2,./&' *,(&*' +)4(%&*,(%>' [%(' 7;521' +.2B4,(%&32+,2,-'$*,' (%++*' :&;51%7'72,+$*+' %.)%&+;7' (%,' +)4(%&*,(%' )&",*&' 4))*1';#8':&;51%71/+,2,-*&'%,5*&)'7;)'+2-'+6"13'%11%&'%,'1"&*&%>''

F,'*,,*,' 2,)&%++*,)'7/612-8%)' +;7'%&564(+'7%('*,3",(,2,-'*3';12$*' IdB1/+,2,-*&' ./&' +.2B4,(%&32+,2,-%,' "&' *))' +:&9$2,1"&,2,-%,'$*,' +)*&)*' &%(*,' ./&%' *,$;7+)%,' )211' =3%&2-%>'?%))*' "&' ,9-;)' +;7'+$411%'$4,,*'3*&*'%,'+);&'./&(%1'./&')>%D>'$3;).10$)2,-*&';#8'*&5%)+B$&*.)+2,3*,(&*&%>' H+01+/$*,(%' $*,' 2' (*-' 5/&6*' 1"&*' +2-' +3%,+$*'4,(%&'*+01)2(%,@'7%,'(%)'+$%&'2,)%'2,;7'&*7%,'./&'+.2>'[%('$;&)*&%'3",)%)2(%&' .2,,+'(%)'5%8;3' *3' *))':&/3*',0*'3"-*&' ./&' +3%,+$2,1"&B,2,-%,' ;#8' +3*&%)' :9' (%))*' $*,' 70#$%)' 3"1' 3*&*' 7;521)' 1"&*,(%>'a3%,' ;7' +.2' 2,)%' "&' (%,' 4)521(,2,-+.;&7' +;7' 7*,' .9&' )*' (%1' *3'4,(%&' *+01)2(%,' +$411%'7*,'$4,,*'$;;&(2,%&*' 1"&*,(%)':9',0*' +"))'-%,;7'4),0))6*,(%'*3')%$,2$%,';#8':9'+9'+"))'+$*:*'%,'%,$1*&%'/3%&B-9,-')211'+.2'./&'(%7'+;7'.9&'4::%8911+)211+)9,(>''

F,':;+2)23'+2(;%..%$)'*3'%))'.1%D25%1)'1"&*,(%'7%(')%$,2$%,+'86"1:'"&' *))' (%,' +)4(%&*,(%' +*7)2(2-)' +;7'8;,' %11%&'8*,' 1"&' +2-' +3%,+$*'+$*..*&' +2-'$4,+$*:%&' +;7'$*,'52(&*' )211' *))'72,+$*'(%,' +9'$*11*(%'(2-2)*1*'$10.)*,'2'+*78"11%)>'G7'%,'7;521)%1%.;,'"&'(%,'4)&4+),2,-'+;7' *,3",(+' ./&' (%)'7;521*' 1"&*,(%)' $*,' (%,' ;#$+9' *,3",(*+' )211'70#$%)' *,,*)' +;7' 4,(%&1"))*&' 3*&(*-%,' ./&' (%,' +)4(%&*,(%>' c"&'7*,'8*&'$4,+$*:%&';7'84&'7*,'*,3",(%&')%$,2+$*'86"1:7%(%1'$*,'7*,';#$+9':9'%))'%,$%1)'+"))'+$*..*'+2-'5%8/312-'2,.;&7*)2;,';7'(%)'+3%,+$*'+*78"11%)>'H,3",(,2,-%,'*3')%$,2$'$*,'%3%,)4%11)';#$+9'-%'4)521(,2,-%,'2'+3%,+$*'./&'2,3*,(&*&%'%,',0'+)*)4+@'+;7'2'+2-'$*,'512'%,'(&23$&*.)';#8'%,'.&*7-9,-+.*$);&>''

>:#&#-&?.42)&'/'062-./78.126-062-..

F.)%&+;7'+0.)%)'7%('*))'*,3",(*'+2-'*3')%$,2$%,'"&'*))'./&5"))&*'4,(%&B32+,2,-%,+' $3*12)%)' ;#8' %..%$)232)%)' -%,;7' /$*(' 2,(232(4*12+%&2,-@' "&'(%)' +"&+$21)' 32$)2-)' *))' +)/(6*' 1"&*&,*' 2' (%&*+' ,0*' ;#8' 32(-*(%' &;11>'R"&*&,*'79+)%'59(%'$4,,*' *,3",(*' +2-' *3' )%$,2$%,';#8' 1"--*'4::'+2,'4,(%&32+,2,-':9',0*' +"))>' =3%,+$*' 1"&*&%'8*&'(;$47%,)%&*)' 19-'5%&%(+$*:' *))' *,3",(*' +2-' *3' 2,.;&7*)2;,+)%$,;1;-2' JIdQ' 2' 4,(%&B

II'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

32+,2,-%,>]' F,' *3' ./&$1*&2,-*&,*' "&' *))'7*,' 2,)%' *,+%&' +2-' 8*' )211B&"#$12-' 4)521(,2,-' ;#8' $;7:%)%,+>' C/&' (%,' ,0*' *117",,*' 1"&*&4)B521(,2,-%,@' 7%(' +2,*' .0&*' ;12$*' 2,&2$),2,-*&@' +;7' "&' :1*,%&*(' *))'+)*&)*'TUKK@'10.)+'Id'.&*7'+;7'%,'32$)2-'4)521(,2,-+&%+4&+'+;7'+$*'2,-9'2'5123*,(%'1"&*&%+'4)521(,2,->''

I' $;77*,(%' 1"&*&4)521(,2,-*&' 2' +3%,+$*' ./&' 2,3*,(&*&%' 5/&' Id'+;7'4)521(,2,-+&%+4&+';#$+9'.9'%,'.&*7+$64)%,':1*)+>'[%('%,'+9(*,'5%);,2,-'*3'$4,+$*:%&':9'(%))*';7&9(%'$*,'+.2B1"&*&%'512'%,'-&4::'+;7' -9&' 2' +:%)+%,' ./&' *,3",(,2,-%,' *3' ,0' )%$,2$>' ?%' $*,' 512' %,'./&%521('./&'*,(&*'1"&*&%>'?%))*'+$411%'3*&*'+"&+$21)':;+2)23)'%.)%&+;7'+.2B1"&*&%'2'(*-+1"-%)'8*&'%,'1"-&%'4)521(,2,-+,239'",'1"&*&%'./&'/3&2-*'+$;1.;&7%&'+*7)'*))'(%)'+*$,*+'%,'+"&+$21('1"&*&%D*7%,'./&'(%,,*'1"&*&B$*)%-;&2>''

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

I'(%))*'+*77*,8*,-'"&'(%)'32$)2-)'*))'$;77*'289-'*))'(%)'-%,%&B%11)')0#$+'3*&*'+39&)'*))' 1;#$*'+)4(%&*,(%')211' 1"&*&4)521(,2,-*&>'?%)'5%8/3+'.1%&';#8'$;7:%)%,)*'1"&*&%'+;7'$*,'4,(%&32+*'2'+3%,+$*@';#8'(9'2,)%'5*&*'2,;7'4)521(,2,-%,'2'+3%,+$*'./&'2,3*,(&*&%'4)*,';#$+9'2'4)521(,2,-%,'2'+3%,+$*'+;7'*,(&*+:&9$>''

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

']'!*75/11'[*,*-%7%,)@'TUU]@'185%*/373A"K./67+"CDDL@'V[H@'TUU]@'&#"7"[email protected]*3"CDDL"9"*,,78,?6236%/=B@373AJ'

I>'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

@%,1$&1$2#./78.A#&351+%076&#.

!"#$%&'!"• !%-%&2,-%,')211+"))%&'%,'(%1%-*)2;,'7%('4::-2.)'*))')*'.&*7'./&B

+1*-')211'84&'%))'.1%D25%1)'1"&*,(%'7%(')%$,2$%,+'86"1:'$*,'32(*&%B4)3%#$1*+>'?%1%-*)2;,%,'+$*'"3%,'+)*&)*':21;):&;6%$)>'

• ?%1%-*)2;,%,'.9&';#$+9' 2'4::-2.)'*))'+$*:*'%,'-%7%,+*7'7/)%+B:1*)+':9',")%)@'%,'k%55:1*)+@'./&'4)521(,2,-+*,+3*&2-*@'+)4(%&*,(%';#8'*,(&*'&%1%3*,)*'*$)/&%&>'

'I'=3%&2-%'.2,,+'(%)'5*&*'2'5%-&",+*(';7.*)),2,-'.;&+$,2,-';7',0))*,'7%('Id' 2'4,(%&32+,2,-%,>'?%,'4)1",(+$*'.;&+$,2,-%,'"&'7%&';7.*)B)*,(%' ;#8' 4::32+*&' )"712-%,' %,)0(2-)' :;+2)23*' &%+41)*)>X' C&*7./&'*11)'8*&'7*,'2'(%,'.;&+$,2,-%,'4::7"&$+*77*)'IdB*,3",(,2,-%,+'5%)0(%1+%' ./&'5*&,';#8'4,-(;7*&'+;7'8*&' +;#2*1*'%11%&' *,(&*':&;B51%7>' [*,' 8*&' ;#$+9' ,;)%&*)' &%+41)*)' +;7' :%$*&' :9' 4)6"7,2,-' 2'$4,+$*:+,239'7%11*,'$/,%,',"&'Id'*,3",(+'.&%$3%,)>O'H,3",(,2,-'*3'Id'2'4,(%&32+,2,-%,'$*,'("&./&'+"-*+'8*'-0,,+*77*'%..%$)%&'./&'+93"1'6"712$8%)'+;7'6"7+)"11(8%)>'=*77*'./&8911*,(%'-"11%&'7%('*11'+*,,;12$8%)'./&'34D,*'+)4(%&*,(%'"3%,';7'.;&+$,2,-%,'8"&'"&'7%&'+:*&+*7>''

I'=3%&2-%'.2,,+'%7%11%&)2('%,'(%1'-;(*'*,+*)+%&';#8'./&%521(%&',"&'(%)'-"11%&'*))'*,3",(*'.1%D251*'1"&7%);(%&'2,;7'+.2>'F,'+9(*,'"&'YIdS'JY&4,(1"--*,(%'IdB4)521(,2,-'./&':%&+;,%&'7%('2,3*,(&*&5*$-&4,(Q'2'S7%9>'E2+2;,%,'"&'*))'YIdS'+$*'512'%,'4)521(,2,-'+;7'1"7:*&'+2-'./&'+6"13+)4(2%&'2,)%-&%&*)'2'*,,*,'4)521(,2,-'+9+;7'+.2>'YIdS'+$*')>%D>'$4,,*' *,3",(*+' *3' :%&+;,%&'7%(' 5%-&",+*(' ./&79-*' *))' 1"+*' ;#8'+$&23*>' I,,%8911%)' +$*' .2,,*+' :9' %,' &*(' ;12$*' +:&9$>' YIdS' +$*' -%'$4,+$*:';7'*))'*,3",(*'(%'3*,12-*+)%':4512$*'k%55)6",+)%&,*'+;7')>%D>'H&5%)+./&7%(12,-%,+';#8'C/&+"$&2,-+$*++*,+'k%55:1*)+%&>'?%1B)*-*&,*' +$*' %.)%&' 4)521(,2,-%,' 8*' $;7:%)%,+' *))' *,3",(*' (2-2)*1*'5*,$)6",+)%&';#8'$4,,*'+$*..*'+2-'%B1%-2)27*)2;,>''

Z))%&12-*&%' %))' %D%7:%1' "&' %,' +*)+,2,-' +;7' -/&+' 2' _&2+)2*,+)*('("&' 2,3*,(&*&$32,,;&' 7%(' $;&)' 4)521(,2,-' .9&' +"&+$21(' 4)521(,2,-'59(%' 2' +:&9$' +*7)' ;7' Id>'?%++*' 2,3*,(&*&$32,,;&' $*,' -%,;7' %,'$;&)*&%@' &2$)*(' 4)521(,2,-+2,+*)+' ./&5%&%(*+' ./&' *&5%)%' 2,;7' IdB+%$);&,@'("&'(%)' 2'(*-'.2,,+'%))'+);&)'5%8;3'*3'*&5%)+$&*.)':9';12$*''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''X'V;D'7>.1>@' TUUM@'F3" 73:%=,7A*,7.3" .<" ,$%" /%=%*/+$" %:76%3+%" /%5*,73A" ,." &'#" )%6*A.A?@' ^%#)*'IVd'!%+%*&#8>'O'&'#" *36" *,,*73(%3," 9" *" /%:7%;" .<" ,$%" /%=%*/+$" 57,%/*,2/%@' ^%#)*' V;,(2%' 7>.1>@' TUUX@'#$%"7()*+,".<"&'#"73"=+$..5="9"*"5*36=+*)%"/%:7%;@'^%#)*'!%+%*&#8>'

>;'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

,239%&>'?%'$*,'"3%,'+)2741%&*+')211'*))'+)*&)*';#8'(&23*'./&%)*-'7%('IdB3%&$+*78%)>' F,' 32$)2-' +*)+,2,-' ./&' 6"7+)"11(8%)' ,"&' (%)' -"11%&'(%,'(2-2)*1*'$;7:%)%,+%,>'

?2-2)*1'$;7:%)%,+' "&' ./&'/3&2-)';#$+9' %))' 5%-&%::' +;7'FS',4')&0#$%&' +"&+$21)' :9' ./&' *))' .9' 7%(1%7+1",(%&,*' *))' 4)3%#$1*' +2,*'7%(5;&-*&%' ./&' %,' (2-2)*1' (%1*$)2-8%)' 2' +*78"11%)>'?2-2)*1' $;7:%B)%,+'2,,%5"&'+"$%&';#8'$&2)2+$'*,3",(,2,-'*3'$;774,2$*)23')%$,2$'59(%'2'*&5%)+123@'+)4(2%&';#8':9'.&2)2(%,>'?2-2)*1'$;7:%)%,+'5%+)9&'*3'-&4,(1"--*,(%' IdB."&(2-8%)%&@' (3+>' *,3",(,2,-' *3' (*);&%&' %11%&'*,,*,@'7;521')%$,2+$'4)&4+),2,-'./&'*))'2,)%&*-%&*'32*';12$*',")3%&$'32*' I,)%&,%)>' F,' .1%D25%1' ;#8' 7;521' +.2B4,(%&32+,2,-' $*,' +)/(6*'4)3%#$12,-%,'*3'(%,'(2-2)*1*'$;7:%)%,+%,>'

^%8;3%)'*3'%,'(2-2)*1'*-%,(*'./&'=3%&2-%'8*&',012-%,';#$+9'10.)+'.&*7'*3' Id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

`4&' $*,' 7*,' (9' 4)3%#$1*' %))' .1%D25%1)' ;#8' (%++4);7' 7;521)'1"&*,(%'2'=3%&2-%<'E*('-"11%&'(%')%$,2+$*'./&4)+")),2,-*&,*'2,,%5"&'(%)' 2' $;&)8%)' *))' 3*&6%'7;521' %,8%)' ./&+%+'7%(' :&;-&*73*&*' +*7)'4::$;::12,-'7;)'I,)%&,%)'32*'1;$*1)':1*#%&*(%'+%&3&*&'+;7'8*,)%&*&'+93"1' +:&9$4,(%&32+,2,-' +;7' +*78"11+2,.;&7*)2;,>' ?%)' -9&' ;#$+9'*))'%,$%1)' .9' )211-9,-' )211'7%&'*117",' 2,.;&7*)2;,';7'+*78"11%';#8';12$*'4)521(,2,-+B';#8'0&$%+*1)%&,*)23'32*'(%'7;521*'%,8%)%&,*>''

a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

[;)' 5*$-&4,(' *3' (%' $4,+$*:%&' +;7' 4)&%(,2,-%,' +$*..*)' +2-' 2'$;,)*$)%&' 7%(' 51*,(' *,,*)' _4,-1>' d%$,2+$*' 8/-+$;1*,' 2' =);#$B8;17' J_d`Q' ;#8' !2$+./&%,2,-%,' ./&' FB$;7:%)%,+' J!F_Q' )211B

><'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

+*77*,+'7%('(%)'+;7'.&*7$;772)'2'4)&%(,2,-%,+'$;,)*$)%&'7%('%))' *,)*1'$;774,%&@' ./&%+19&'32' *))' &%-%&2,-%,' )211+"))%&' %,'(%1%-*B)2;,'7%('4::-2.)'*))')*'.&*7'./&+1*-':9'84&'%))'.1%D25%1)'1"&*,(%'7%(')%$,2$%,+'86"1:'$*,'32(*&%4)3%#$1*+>''

d211'(%1%-*)2;,%,'5/&'$,0)*+'(%,'$;7:%)%,+'+;7'5%8/3+'./&'4::B-2.)%,@')>%D>'=$;13%&$%)@'=:%#2*1:%(*-;-2+$*'+$;170,(2-8%)%,'J=h=[Q@'=_R@'_d`' +*7)'c*)2;,%11)' #%,)&47' ./&' +3%,+$*' +;7' *,(&*+:&9$'32(' =);#$8;17+' 4,23%&+2)%)>' E2(*&%' 5/&' ./&+1*-+32+' &%:&%+%,)*,)%&'./&'[2-&*)2;,+3%&$%)@'E2,,;3*@' =3%,+$)'c"&2,-+123@' IdB' ;#8'd%1%B$;7./&%)*-%,'+*7)'+)2.)%1+%,'>=F'$,0)*+')211'(%1%-*)2;,%,@'%.)%&+;7'+*7)12-*'*3'(%++*'$*,'52(&*'7%('32$)2-*'$4,+$*:%&'2'(%))*'+*77*,B8*,->''

=h=['*,+3*&*&'51*,('*,,*)'./&'+:%#2*1:%(*-;-2+$)'+)/('./&'4,(%&B32+,2,-'*3'%1%3%&'7%('.4,$)2;,+,%(+")),2,-'*3';12$*'+1*-';#8'8*&'19,-'%&.*&%,8%)' *3' *))' *,3",(*' )%$,2$' 2' 4,(%&32+,2,-%,>' [0,(2-8%)%,'*,+%&' +2-' 8*' 59(%' 2,)&%++%@' $;7:%)%,+' ;#8' &%+4&+%&' ./&' *))' .2,,*+'7%('+;7'%,'*$)/&',"&'(%)'-"11%&'*))'4)521(*'+.2B1"&*&%'./&'%))'1"&*,(%'-%,;7'7;521')%$,2$>'

I' +*73%&$*,' 7%(' %))' *,)*1' $;774,%&' ./&%+19&' 32' *))' (%1%-*B)2;,%,' +)*&)*&' :21;):&;6%$)'7%(' %,' &%-2;,*1' +:&2(,2,-'/3%&' 1*,(%)>'?%++*':21;):&;6%$)'5/&'./16*+'.&9,'+)*&)%,>'h21;):&;6%$)%,+'+0.)%'5/&'3*&*' *))' :&/3*',0*' .;&7%&' ./&'7;521)' 1"&*,(%' 2,;7'4)521(,2,-%,' 2'+3%,+$*' ./&' 2,3*,(&*&%'7%('791%)' *))' %..%$)232+%&*'4,(%&32+,2,-%,';#8' 8/6*' $3*12)f,>' ?%)' .2,,+' 32,+)%&' 2' *))' :21;):&;6%$)%,' 8*&' ,"&*'$;,)*$)'7%('(%' ,0*' 1"&*&4)521(,2,-*&,*' +;7' 2,./&+' :9' ;12$*' 1"&;B+")%,@'("&';#$+9'5123*,(%'1"&*&%'2'+3%,+$*'./&'2,3*,(&*&%'$*,'%,-*-B%&*+'2':21;):&;6%$)%,+>''

E2'./&%+19&'*))'(%1%-*)2;,%,';#$+9'+$*'8*'+;7'4::-2.)'*))'+$*:*'%,'-%7%,+*7'7/)%+:1*)+'32*'I,)%&,%)@'%,'k%55:1*)+@' ./&'*11*'+)4(B%&*,(%@'1"&*&%@'4)521(,2,-+*,;&(,*&%';#8'*,(&*'5%&/&(*'2,)&%++%,)%&>'=0.)%)'7%('7/)%+:1*)+%,'"&'51*,('*,,*)'*))'./&7%(1*'2,.;&7*)2;,';7'4)521(,2,-%,';#8'$4&+2,,%8911%)'+*7)'+$*:*'%,'-%7%,+*7'$;774,2$*B)2;,+:1*)+'./&'(%7'+;7'(%1)*&' 2'4)521(,2,-'2'+3%,+$*'./&' 2,3*,(&*&%>' I'./&1",-,2,-%,'+$411%'7*,';#$+9'$4,,*')",$*'+2-'*))'+)4(%&*,(%'$*,'8*' $;,)*$)' 7%(' 3*&*,(&*' 32*' $;774,2$*)2;,%,' :9' 7/)%+:1*)+%,>'h9' 7/)%+:1*)+%,' $*,' ;#$+9' .2,,*+' 2,.;&7*)2;,' ;7' 4)521(,2,-%,+'&;11'2'+*78"11%)'+*7)'1",$*&')211'32$)2-*'+*78"11+2,+)2)4)2;,%&>''

F,' 1"&*&%' +$*' .;&)1/:*,(%' -%' (%,' +)4(%&*,(%' 2,.;&7*)2;,' ;7'+)4(2%&%+41)*)%)>' ?%))*' 5%(/7+' (%132+' ;#$+9' $4,,*' +$%' 32*' 7/)%+B:1*)+%,>'[/612-8%)%,'*))' )211-",-12--/&*'+)4(2%&%+41)*)%,'7%(' 2*$))*-B*,(%'*3'-"11*,(%'&%-1%&';7'+%$&%)%++@'"&'0))%&12-*&%'%,'4::-2.)'+;7'

>:'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

32' *,+%&' *))' (%1%-*)2;,%,' 5/&' 8*>'`"&' 5/&' ;#$+9' %&.*&%,8%)%&' .&9,'=$;13%&$%)+'-%,;7./&*,(%'*3'(%',*)2;,%11*':&;3%,'32*'I,)%&,%)')*+')211'3*&*>''

?@:@: L0&/1CC2302C12&50%(.+1,0102&&

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

?%)'.2,,+'"3%,'2,)%&,*)2;,%11*'9)*-*,(%,'*))'5%*$)*'2'(%))*'+*7B7*,8*,->' I' (%#%75%&' TUUO' &*)2.2#%&*(%' =3%&2-%' CcB$;,3%,)2;,%,';7' &"))2-8%)%&' ./&' :%&+;,%&' 7%(' .4,$)2;,+,%(+")),2,->' _;,B3%,)2;,%,' 4)-/&' %,' *3' (%' #%,)&*1*' 2,)%&,*)2;,%11*' $;,3%,)2;,%&,*';7'7",+$12-*'&"))2-8%)%&>'?%,'2,,%8911%&'2,-*',0*'&"))2-8%)%&'2'+2-@'4)*,'8*&'$;772)')211'./&'*))'4,(*,&/6*'82,(%&'./&':%&+;,%&'7%('.4,$B)2;,+,%(+")),2,-'+9'*))'(%' 2' 12$8%)'7%('/3&2-*'+$*'$4,,*'9),64)*'+2,*'7",+$12-*' &"))2-8%)%&>' I' *&)2$%1' TM' 5%8*,(1*+' &"))%,' )211' 4)521(,2,->'F,12-)' (%,,*' *&)2$%1' +$*' $;,3%,)2;,++)*)%&,*' +"$%&+)"11*' *))' :%&B+;,%&'7%(' .4,$)2;,+,%(+")),2,-' 2,)%' 4)%+)",-+' .&9,' (%)' *117",,*'4)521(,2,-++0+)%7%)';#8'*))'(%'+$*'.9')211-9,-')211'*117",'8/-&%'4)521(B,2,-@'0&$%+4)521(,2,-@'34D%,4)521(,2,-';#8'123+19,-)'1"&*,(%'4)*,'*))'(2+$&272,%&*+>' I' (%))*' +0.)%' +$*' $;,3%,)2;,++)*)%&,*' 51*,(' *,,*)'+"$%&+)"11*'*))'+$"12-'*,:*++,2,-'%&564(+>'

E2$)%,' *3' *))' -%' ,0*,1",(*' 2,3*,(&*&%' 7%(' .4,$)2;,+,%(B+")),2,-'%,'-;('+:&9$12-'-&4,('*))'+)9':9'.&*7$;77%&'51*,('*,,*)'2'=;#2*1+)0&%1+%,+' &*::;&)' lH11)6"7)' ;6"712$)' A'R%3,*(+./&8911*,(%,'./&'32++*':%&+;,%&'7%('.4,$)2;,+,%(+")),2,-l>'I'&*::;&)%,'5%+$&23+'

>?'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

1%3,*(+./&8911*,(%,*'./&':%&+;,%&'7%('.4,$)2;,+,%(+")),2,-'+;7'8*&'2,+*)+%&'%,12-)' +;#2*1)6",+)1*-%,'JTUUKNMPWQ'%11%&' 1*-%,'JKLLWNWOXQ';7'+)/(';#8' +%&32#%' )211' 32++*' .4,$)2;,+82,(&*(%>'d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

=:&9$2,1"&,2,-%,' :93%&$*+' *3' %,' &*(' .*$);&%&@' *3' 321$*' .4,$B)2;,+,%(+")),2,-' 4)-/&' %,>' F,' .4,$)2;,+,%(+")),2,-' 2,,%5"&' &%,)'$;,$&%)' *))' %,' :%&+;,' 8*&' %,' ,%(+")),2,-' *3' .0+2+$@' :+0$2+$' %11%&'2,)%11%$)4%11'.4,$)2;,+./&79-*>'c%(+")),2,-%,'$*,'3*&*'7%(./(('%11%&'8*'4::+)9))'+;7'./16('*3'+64$(;7'%11%&'+$*(*>'C0+2+$*'.4,$)2;,+,%(B+")),2,-*&'+9+;7')>%D>',%(+*))'&/&12-8%)'2',9-;,'(%1'*3'$&;::%,@',%(B+*))' +0,' %11%&' 8/&+%1' "&' 2' &%-%1' 1"))*&%' *))' 4::7"&$+*77*' 6"7./&)'7%(' :+0$2+$*@' ,%4&;:+0$2*)&2+$*' ;#8' 2,)%11%$)4%11*' .4,$)2;,+,%(B+")),2,-*&'+;7')>%D>'H?`?';#8'12,(&2-'4)3%#$12,-++)/&,2,->'?0+B1%D2'$*,';#$+9'3*&*'+39&)'*))'4::7"&$+*77*'2'%))')2(2-)'+$%(%>''

C/&'79,-*',0*,1",(*'4)-/&'(%++4);7'+6"13*'72-&*)2;,%,'2'+2-'%,':9.&%+),2,-' +;7' $*,' ./&+"7&*' $;,#%,)&*)2;,+./&79-*,' ;#8' 2,1"&B,2,-+./&4)+")),2,-*&,*>' F,' (%1' 12(%&' *3' :;+))&*47*)2+$)' +)&%++0,B(&;7' Jhd=?Q' %11%&' ;12$*' .;&7%&' *3' +7"&))211+)9,(' +;7' ;#$+9' $*,':93%&$*'+:&9$2,1"&,2,-%,>'=;7')2(2-*&%',"7,)+'.2,,+'(%)'70#$%)'*))'32,,*':9'*))'2'%))')2(2-)'+$%(%'.9'-&%::';7'(%'5*$;712--*,(%';&+*$B%&,*' )211' 5&2+)*,(%' 2,1"&,2,-+./&79-*@' +9' *))' 4,(%&32+,2,-%,' $*,'*,:*++*+')211'(%1)*-*&,*+'5%8;3';#8'./&4)+")),2,-*&>'

>M'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

?@:@? Q(/H%,/*%&HK)&$%(4+$/$&C3.+(.4/F2&

!"#$%&'B.• =:%#2*1:%(*-;-2+$*' +$;170,(2-8%)%,' J=h=[Q' .9&' 2' 4::(&*-'

*))' 4)3%#$1*' %))' 7%);(+)/(' +;7' -%&' 1"&*&%' ;#8' +$;11%(*&%''$4,+$*:%&' ;7' 84&' 4)521(,2,-' 2' +3%,+$*' ./&' 2,3*,(&*&%' $*,'-/&*+')211-",-12-'./&':%&+;,%&'7%('.4,$)2;,+,%(+")),2,->'''

• =h=[' .9&' "3%,' 2' 4::(&*-' *))' +"$%&+)"11*' *))' (%)' ./&' 4)521(B,2,-%,'.2,,+'*(%$3*)*'1"&3%&$)0-'./&'34D,*'7%(';12$*'.;&7%&'*3'.4,$)2;,+,%(+")),2,->''

'`4&'+"$%&+)"11%&'7*,'*))'4,(%&32+,2,-%,'3%&$12-%,'"&')211-",-12-'./&'+*7)12-*'(%1)*-*&%<'d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

F,'*,,*,'-%7%,+*7'.*$);&'+;7'7*,'5/&'&%.1%$)%&*'/3%&'"&'*))'(%)' 2,)%' "&' ;3*,12-)' *))' :%&+;,%&' 7%(' .4,$)2;,+,%(+")),2,-' +;7'+)4(%&*&'8*&'(912-)'+6"13./&)&;%,(%>'G.)*'"&'.4,$)2;,+,%(+")),2,-%,'./&$,2::*('7%(',%-*)23*'%&.*&%,8%)%&'.&9,'+2)4*)2;,%&'+;7'7*,'"&'&"(('./&'+$*'4::+)9'2-%,@'321$%)'5%8/3%&'4::7"&$+*77*+'.&9,'1"&*&%,+'+2(*>' ?%)' $*,' "3%,' .2,,*+' $41)4&%11*' *+:%$)%&' *))' 5%*$)*' 2' +0,%,' :9'.4,$)2;,+,%(+")),2,->'I'4,(%&32+,2,-++2)4*)2;,%,'$*,'%,'+0,:%(*-;-@'8/&+%1:%(*-;-'%11%&' +:%#2*1:%(*-;-'4)-/&*'32$)2-*'$;7:1%7%,)' )211'1"&*&%,>'[;(%&+791+1"&*&%'"&'"3%,'32$)2-*'2'(%++*'+*77*,8*,->'

C/&' *))' 4,(%&32+,2,-%,' +$*' 3*&*' )211-",-12-' $&"3+' 2,(232(4%11*'*,:*++,2,-*&>' F,12-)' ./&;&(,2,-%,' JKLLMNOLPQ' ;7' +3%,+$4,(%&B32+,2,-'./&'2,3*,(&*&%'+$*'(%1)*-*&%'+;7'8*&'+39&2-8%)%&'7%('4)521(B,2,-%,'-%+'+"&+$21)' +)/(>'?"&' .&*7-9&'"3%,'*))',/(3",(2-*'*,:*++B,2,-*&' *3'$4&+:1*,%,' .9&'-/&*+' ./&'(/3*' %11%&'8/&+%1+$*(*(%' %1%3%&'+*7)' *))' 1"&*&%,' .9&' 5;&)+%' .&9,' %,+)*$*' 5%)0-+$&2)%&2%&' %11%&' .&9,'%,+)*$*' (%1*&' *3' 5%)0-+$&2)%&2%&' ;7' (%)' .2,,+' +"&+$21(*' +$"1>' [%('

>"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

+"&+$21(*' +$"1' *3+%+' .4,$)2;,+,%(+")),2,-' %11%&' *,(&*' :%&+;,12-*'./&8911*,(%,'+;7'2,)%'"&'*3')211."112-',*)4&';#8'+;7'4)-/&'%))'(2&%$)'82,(%&'./&'(%1)*-*&%,'*))'4::.011*'$&*3%,'./&'%))'32++)'$&2)%&247>'

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

C/&4);7'2,(232(4%11*'*,:*++,2,-*&'$&"3+'"3%,'-%,%&%11*'*,:*++B,2,-+9)-"&(%&' ./&' *))' *11*' +$*' 8*' +*77*' 7/612-8%)%&' *))' +/$*@'$;77*' 2,' :9' ;#8' -%,;7./&*' %,' 4)521(,2,->'?%,' .0+2+$*' )211-",-B12-8%)%,'2,,%5"&'*))'+93"1'2,;784+B'+;7'4);784+7216/%&'79+)%'3*&*')211-",-12-*'./&':%&+;,%&'7%('.4,$)2;,+,%(+")),2,->'?%)'5%8/3%&')>%D>'.2,,*+' &*7:%&@' (/&&/::,*&%@' $;,)&*+)7*&$%&2,-*&' ;#8' 2,.;&7*)2;,+B+$01)*&'7%(':4,$)+$&2.)';#8':2$);-&*7'J+075;1+$01)*&Q>''

d211-",-12-8%)'8*,(1*&'"3%,';7'$;774,2$*)2;,@'(3+>'*))'*11*'+$*'$4,,*')*'%7;)'2,.;&7*)2;,';#8'2,)%&*-%&*'7%('*,(&*>'?%)'2,,%5"&'*))' (%)'79+)%' .2,,*+' );1$*&' 32(' 5%8;3@' -;(' *$4+)2$@' 8/&+%1)%$,2+$'4)&4+),2,-@' )%1%+12,-*' +*7)' -;(' 5%10+,2,->' m%55:1*)+%&' 5%8/3%&'3*&*'4).;&7*(%'+9'*))'(%'"&')211-",-12-*'"3%,'./&':%&+;,%&'7%('.4,$B)2;,+,%(+")),2,->' E2(*&%' "&' (%)' 32$)2-)' *))' *11*' $*,' )*' (%1' *3' (%,'

'L'=$;13%&$%)@'_;77%,)*&')211'_4&+:1*,'./&'+3%,+$4,(%&32+,2,-'./&'2,3*,(&*&%@'+.2'J=_GRC='TUULNTQ>'

>G'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

2,.;&7*)2;,'+;7'-%+@'321$%)'2,,%5"&'*))')&0#$)';#8'(2-2)*1'2,.;&7*B)2;,'79+)%'3*&*' )0(12-)'4).;&7*(';#8'32('5%8;3'-9' *))' .9' 2' :4,$)B+$&2.)@' :9' $*++%))' %11%&' (2+$%))' %11%&' 2' %,' 1"))1"+)' 3%&+2;,>' d*1*('2,.;&7*)2;,'$*,';#$+9''$;7:1%))%&*+'7%('32+4%11*'521(%&>'

a3%,'1"&3%&$)0-';#8'86"1:7%(%1'79+)%'4).;&7*+'+9'*))'(%'512&')211B-",-12-*'./&'+*7)12-*'+.2B(%1)*-*&%>'I'%,'%,$")'&2$)*(')211'+.2B*,+3*&2-*'2'$;774,%&,*' +;7' -%,;7./&(%+' *3' c*)2;,%11)' #%,)&47' ./&' +.2' ;#8'+3%,+$*' +;7' *,(&*' +:&9$' JTUU]Q' .&*7$;7' *))' #2&$*' WU' :&;#%,)'*,+9-' *))' 5&2+)*,(%' )211-9,-' )211' *(%$3*)*' 1"&3%&$)0-' 4)-6;&(%' %))'82,(%&' ./&' *))' )211-;(;+%' +.2B+)4(%&*,(%+' +"&+$21(*'5%8;3';#8'#2&$*'M]' :&;#%,)' *,+9-' *))' 5&2+)*,(%' 86"1:7%(%1+)211)211-9,-' 4)-6;&(%' %))'+9(*,)' 82,(%&>' d2(2-*&%' -6;&(*' 4,(%&+/$,2,-*&' J51*,(' *,,*)' =:%#2*1B:%(*-;-2+$*' 2,+)2)4)%)'TUUMQ'8*&' 32+*)' *))' 1"&;7%(1%,' 2,)%' :*++*&' ./&'34D%,+)4(%&*,(%'7%('.4,$)2;,+,%(+")),2,-'(9'(%'.1%+)*'"&':&;(4#B%&*(%'./&'5*&,@'7%('521(%&';#8')%D)%&'*,:*++*(%'./&'5*&,+',239%&>''

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

F))'$;,$&%)'+"))'*))'/$*'$4,+$*:%&,*':9'(%))*';7&9(%'"&'*))'./&+%'1"&*&%';#8'+$;11%(*&%'7%('%))'*(%$3*)'7%);(+)/('+;7'-%&'$4,+$*:%&';7'3*('7*,'5/&' )",$*':9' ./&' *))'4,(%&32+,2,-%,' +$*'$4,,*'512' )211B-",-12-'./&'+*7)12-*'(%1)*-*&%@';*3+%))';7'7*,'8*&'%,'.4,$)2;,+,%(B+")),2,-' %11%&' 2,)%>'?%)' -"11%&' +93"1' 2' (%,' $;,$&%)*' 4,(%&32+,2,-+B+2)4*)2;,%,' +;7' 2' (%,' ;7-23*,(%' 7216/,>' H,:*++*(%' 86"1:7%(%1';#8')211-",-12-*'1"&3%&$)0-'"&'*,(&*'32$)2-*';7&9(%,>''

E2'./&%+19&'*))'=h=['.9&'2'4::(&*-'*))'4)3%#$1*'%))'+9(*,)'7%);(B+)/('7%('(%)'/3%&-&2:*,(%'+0.)%)'*))'/$*'$4,+$*:%&,*';7'3*('(%)'2,,%5"&'*))'8*'%,'.4,$)2;,+,%(+")),2,-'+*7)'84&'(%)':93%&$*&'7/6B12-8%)%&,*' *))' 1"&*' +2-' %))' ,0))' +:&9$>'[%(' 5"))&%' $4,+$*:%&' 2,;7'(%))*';7&9(%'/$*&'7/612-8%)%&,*'./&'59(%'1"&*&%';#8'+$;11%(*&%'*))'4).;&7*'4,(%&32+,2,-%,'+9'*))'(%,'512&')211-",-12-'./&'*11*'(%1)*-*&%>'[%);(+)/(%)'+$*'3",(*'+2-')211'+93"1':%(*-;-%&'+;7'+$;11%(*&%';#8'

>!'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

5/&' "3%,' $4,,*' *,3",(*+' +;7' 3"-1%(,2,-' ,"&' %,' $;774,' 4::B8*,(1*&'4)521(,2,-'2'+3%,+$*'./&'2,3*,(&*&%'.&9,'%D)%&,*'*$)/&%&>'

=h=['-%&'+%(*,')2(2-*&%'4)'+$&2.)%&';#8'7%);(7*)%&2*1'./&';12$*'791-&4::%&';#8'(%)')%&'+2-'1"7:12-)'*))'(%)'./&%+1*-,*'7%);(+)/(%)'4)*&5%)*+'2,;7'&*7%,'./&'70,(2-8%)%,+'5%.2,)12-*'+$&2.)+%&2%>'[%);(B7*)%&2*1%)' 5/&' +%(*,' $;7:1%))%&*+' 7%(' 9)%&$;77*,(%' .;&)521(,2,-'+;7'32'./&%+19&'*))'=h=['*,;&(,*&'2,;7'&*7%,'./&'(%,'$4&+3%&$+*7B8%)'+;7'&%(*,'.2,,+'2,;7'70,(2-8%)%,>'E2'./&%+19&'"3%,'*))'=h=['.9&' 2'4::(&*-'*))'+"$%&+)"11*'*))'(%)'.2,,+'*(%$3*)*'1"&3%&$)0-'2,;7'+.2'./&'34D,*'7%(';12$*'.4,$)2;,+,%(+")),2,-*&>'F))'./&+)*'+)%-'$*,'3*&*' *))' -/&*' %,' 5%8;3+2,3%,)%&2,-' ;#8' %,' +*77*,+)"11,2,-' *3'1"7:12-*'5%.2,)12-*'1"&3%&$)0-'2,;7'+.2'+;7'"&'*,3",(5*&*'./&'34D,*>'I'%))'1",-&%':%&+:%$)23'$*,'(%)'"3%,'3*&*',/(3",(2-)'*))'4)3%#$1*',0*'1"&B3%&$)0-'+;7'"&'*,:*++*(%'./&'34D,*>''

?@? 7$A,F0&HK)&,$A+(.4$0&50%(.&HK)&(-/(.&,-1R/1%(0&

C/&' *))' %,' )2(+5%-&",+,2,-' +$*' 1%(*' )211' %,' %..%$)23' 4,(%&32+,2,-'$&"3+'%,'.4,-%&*,(%'+*73%&$*,@'59(%'2,;7';#8'7%11*,'$;774,%&>'=*73%&$*,'5%8/3+'59(%'4,(%&'4)521(,2,-+)2(%,';#8'32('/3%&-9,-%,')211' *,,*,' 3%&$+*78%)' ,"&' 4)521(,2,-+)2(%,' "&' ./&5&4$*(>' F,' .4,B-%&*,(%' +*73%&$*,' "&'7%(' *,(&*';&(' 32$)2-' 59(%' 2,2)2*1)' ;#8' 2' %))'7%&'19,-+2$)2-)'2,)%-&*)2;,+:;12)2+$)':%&+:%$)23>'

=;7')2(2-*&%',"7,)+'.2,,+'&%(*,'.;&7%&'./&'+*73%&$*,'7%11*,'(%,',0*,1",(%' ;#8' 5%&/&(*' $;774,%&@' 70,(2-8%)%&@' ./&%)*-' ;#8';&-*,2+*)2;,%&' ,"&' (%)' -"11%&' (%7' +;7' ;7.*))*+' *3' %)*51%&2,-+B&%.;&7%,>'S&'2,(232(%,+'+0,32,$%1'"&'(%)'&2712-)'*))'%,'+*73%&$*,'$;77%&')211'+)9,(';*3+%))'321$%,'$*)%-;&2'7*,')2118/&>'C/&'*))'%,')2(+B5%-&",+,2,-' +$*' .9' /,+$*(%' %..%$)%&' ./&' *11*' +.2B(%1)*-*&%' 5%8/3%&'("&./&'%,'+*73%&$*,'$;77*')211'+)9,('+;7';#$+9'2,,%.*))*&%'/3&2-*'+.2B(%1)*-*&%>'

>I'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

?@?@< L0&/1%,'(2.30,0102&,/3CC(.&4.$+&EB&-502(.$0%(&,$A+(.4$0&10HA&4HAA50(0&

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

<#0$12-.45.$&3$C-.A"#$95#&#.$&392#6&-..

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

S)2.&9,'(%'+)4(2%5%+/$'32'-6;&)'$*,'32'$;,+)*)%&*'*))'%,'4)3%#$B1*('+*73%&$*,'+"11*,')0#$+'4::+)9'*3'+2-'+6"13)>'?"&'+*73%&$*,'8*&'.4,-%&*)' 8*&' (%)' 3*&2)' ./&*,$&*)' ;#8' +*,$)2;,%&*)' :9' 1%(,2,-+,239';#8'(%)'8*&'"3%,'.4,,2)+'%))')0(12-)'2,(232(:%&+:%$)23'+*7)'%,'-%7%,B

>>'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

+*7'+0,':9'84&';12$*'*$)/&%&')211+*77*,+'$*,'%..%$)232+%&*'4,(%&32+B,2,-%,>''

D#&61062-.$6&.A"#$1:#6&.$4#560-%:#-0-'2-.

I' +$;11*-%,' JTUKUNOUUQ' .&*7-9&' *))' +.2' +$*'$4,,*'$;752,%&*+'7%(';12$*' 2,+*)+%&@' +9+;7'*&5%)+123+;&2%,)%&2,-@'3*12(%&2,-@':&*$)2$'%11%&'*,,*,' 4)521(,2,->'`434(7*,,%,' +$*' 2' +*7*&5%)%'7%('H&5%)+./&B7%(12,-%,';#$+9'3%&$*'./&'*))'(%1)*-*&%,'.9&'7/612-8%)%&'*))'/3*'(%)'+3%,+$*' +:&9$%)' 2' *&5%)+123%)>' S)521(,2,-%,' +$*' "3%,' $4,,*' $;7B52,%&*+'7%('./&3"&3+*&5%)%>'

?%)' 3*,12-*+)%' "&' *))' +.2' $;752,%&*+' 7%(' ,9-;,' +1*-+' +:&9$B:&*$)2$' +;7' +0.)*&' )211' *))' ./&+)"&$*' +:&9$2,1"&,2,-%,>'?%)' 2,,%5"&';.)*+)' *))' 7*,' 3*&3*&' (%,' )%;&%)2+$*' 4,(%&32+,2,-%,' 7%(' *&5%)+B:1*)+./&1*-(':&*$)2$>'?%)'"&';#$+9'3*,12-)'*))'$;752,%&*'+.2'7%('+>$>'2,+)%-+6;55@'+;7'"&'%,'+453%,)2;,%&*('*,+)"11,2,-'2,;7':&23*)'%11%&';..%,)12-'+%$);&'./&',0*,1",(*'2,3*,(&*&%>''

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

H))'5&2+)%,':9' +*7+0,' &2+$%&*&' *))' 1%(*' )211' +"7&%' +)4(2%&%+41)*)'./&'(%,'%,+$21(%'8*&'.&*7-9))')0(12-)'4,(%&'39&*'+)4(2%5%+/$>'h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

<;;'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

I51*,('3%&$*&'(%)',"+)*,'$4,,*'512')39'8%1)'+%:*&*)*'+:9&'+;7'1%3%&'+2,*'%-,*'123'32('+2(*,'*3'3*&*,(&*';#8'(%':%(*-;-2+$*'32,+)%&,*'*3'*))'$4,,*'$;752,%&*'+:&9$2,1"&,2,-'7%(':&*$)2$';#8')>%D>'2,+)%-+B6;55'-9&'(9'./&1;&*(%>'C/&'(%,'%,+$21(%'512&'(%)'(9'-23%)32+'+39&)'*))'+%'*))'(%)''.;&).*&*,(%'"&'%,'+*77*,8",-*,(%'+:&9$4)521(,2,->'

E2'8*&';#$+9'+%))'%D%7:%1':9'(%)'7;)+*))*@'(3+>'("&'(%)'3%&$12-%,'.4,-%&*&>' I' 5"+)*' .*11' $*,' :&*$)2$%,' (9' 4)-/&*' %))' +1*-+' 2,;..2#2%11'*&5%)+:&/3,2,-+2,+)&47%,)';#8':9'+9'+"))'4)-/&*'%,'5&0--*'/3%&')211'*&5%)+7*&$,*(%,>' [%,' 32' 8*&' ;#$+9' ./&+)9))' *))' (%)' 5%8/3+' .1%&'7/)%+:1*)+%&'7%11*,',"&2,-+123%)';#8'+.2B*,;&(,*&%'./&'*))'5&0--*,'+$*'$4,,*'.4,-%&*':9'%))'%..%$)23'+"))>'c"&2,-+123%)'5%8/3%&'$;77*'2,'2'4)521(,2,-%,'2'+3%,+$*'./&'2,3*,(*&%':9'%))')0(12-*&%'+"))>'

@92-$6&.32).0-#061-0-'.3/1.211.C#62.

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`"&' .2,,+' %,' 4)3%#$12,-+:;)%,)2*1'./&' +93"1' #;*#82,+*)+%&' +;7' ./&' ,"&2,-+123%)' *))' .9,-*' 4::' (%1B)*-*&,*+'7;)23*)2;,'4,(%&'4)521(,2,-%,+'-9,->'E2'8*&'+%))' 10#$*(%'%D%7:%1':9'84&'$;,)*$)%&'7%11*,'+.2B*,;&(,*&%';#8'(%)'1;$*1*',"&B

<;<'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

2,-+123%)' 4,(%&' +.2B)2(%,' 8*&' /$*)' (%1)*-*&,*+' 7/612-8%)%&' *))' .9'*&5%)%'%.)%&'*3+14)*('4)521(,2,->'?%)'.2,,+'+91%(%+'+);&*'32,+)%&'2'*))'&%(*,'4,(%&' )2(%,' 2'4)521(,2,-'%)*51%&*'$;,)*$)%&'7%11*,'(%1)*-*&%';#8',"&2,-+123'./&'*))'.9,-*'4::'(%,'7;)23*)2;,'+;7'$",,%)%#$,*&':%&+;,%&'+;7'1"+%&'%,'0&$%+2,&2$)*('+.2>'

E&%0)2#0-'..

I'TT'$*:>'T]'e'+$;11*-%,'JTUKUNOUUQ'.&*7$;77%&'*))'%,'%1%3'2'4)521(B,2,-' 2' +3%,+$*'./&' 2,3*,(&*&%'$*,'.9'+2,*'$4,+$*:%&';#8'+2,'$;7:%B)%,+'3*12(%&*(%>'=%(*,'TUUW'.2,,+'%,'.;&7%11'(%.2,2)2;,'*3'3*12(%&2,-'+;7'&%-%&2,-%,'.*+)+1*-2)@'321$%,'"3%,'9)%&.2,,+'2'(%,';3*,',"7,(*':*&*-&*.%,N''

[%('3*12(%&2,-'*3+%+'%,':&;#%++'+;7'2,,%5"&'%,'+)&4$)4&%&*('5%(/7B,2,-@'3"&(%&2,-';#8'(;$47%,)*)2;,'+*7)'%))'%&$",,*,(%'*3'$4,+$*:%&';#8'$;7:%)%,+'+;7'%,':%&+;,'5%+2))%&';5%&;%,(%'*3'84&'(%'./&3"&3*)+>''

!%%11'$;7:%)%,+'$*,'7*,'8*'4)3%#$1*)'-%,;7'*))'7*,'-9))'2'+$;1*'%11%&' :9' 4,23%&+2)%)@' -%,;7-9))' $4&+%&' 4)*,./&' (%)' .;&7%11*' +$;1B3"+%,(%)'%11%&'-%,;7'*))'8*'*&5%)*)'%11%&'-%,;7'+2))'.&2)2(+2,)&%++%@'?%)'+:%1*&'2,-%,'&;11';7'(%))*'+$%))'2'=3%&2-%'%11%&'4);71*,(+'%11%&',"&'2')2(%,'(%)'"-)'&47>''

[0,(2-8%)%,'./&'0&$%+8/-+$;1*,'JZ8B70,(2-8%)%,Q'8*&'2'4::B(&*-' *))' +*7;&(,*' ;#8' +)/(6*' %,',*)2;,%11' +)&4$)4&' ./&' 3*12(%&2,->'=)&4$)4&%,'+$*'52(&*')211'*))'(%,'3*12(%&2,-'+;7'-%,;7./&+'2'=3%&2-%'+$%&'7%('-;('$3*12)%)';#8'1%-2)272)%)';#8':9'%))'&"))++"$%&)'+"))'./&'2,(232(%,>'H&5%)%)'5%+)9&'2'+);&'4)+)&"#$,2,-'*3'*))'-%')0(12-'2,.;&7*B)2;,';7'3*12(%&2,-'2'=3%&2-%>KU''

C1%&*'*3'(%'$;774,*1*'./&%)&"(*&%'+;7'32'8*&')&"..*)'8*&'4))&0#$)'*))'(%)'"&'+39&)'*))'.9')211'+)9,('%,'3*12(%&2,-'4,(%&'+.2B)2(%,>'d211'32++'(%1'4::1%3+' (%)' 3*&*' $;,64,$)4&5%);,*)>' G7' %.)%&.&9-*,' :9' %))' 32++)'*&5%)%'2,)%'.2,,+@'+9'.2,,+'2,)%'8%11%&',9-;)'2,)&%++%'.&9,'H&5%)+./&B7%(12,-%,+' +2(*' *))' %&564(*' 3*12(%&2,-@' %,12-)' (%' $;774,./&%B)&"(*&%'32':&*)*)'7%(>'F))'*,,*)':&;51%7'+;7'5%+$&232)+'./&';++'"&'*))' 3*12(%&2,-%,' 251*,(' 4::1%3+' 3*&*' *11)./&' -%,%&%11' ;#8' *))' (%)'("&./&'"&'+39&)'*))'3*12(%&*'32++*'+:%#2%11*'0&$%+./&79-;&'8;+'%,':%&B+;,>'

E*12(%&2,-' "&' *3' +);&' 5%)0(%1+%' ./&' *))' ,0*,1",(*' 2,3*,(&*&%+'$;7:%)%,+'+$*'$4,,*')*+')2113*&*':9'%))'*(%$3*)'+"))@'2,)%'72,+)'./&'

'KU'kkk>3*12(%&2,-+2,.;>+%'

<;:'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

(%7'+;7'2,)%'8*&',9-&*'(;$47%,)'+;7'+)0&$%&'7%&2)%&'%11%&'$3*12B.2$*)2;,%&' ;#8' +;7' ("&./&' 2,)%' $*,' 32+*' +2,*' ."&(2-8%)%&' :9' *,,*)'+"))>'?%)' "&'("&./&' 32$)2-)' *))' 3*12(%&2,-'32('5%8;3'-/&+'4,(%&' +.2B4)521(,2,->'F,')2(2-'3*12(%&2,-'$*,'"3%,'./&$;&)*'3"-%,')211'*&5%)%>'

F21.7090%&.$&38:%%21$.4/12-10&%./78.+21C)2%$2..

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f54&,*' ;&-*,2+*)2;,%&' 2,;7' (%)'+;#2*1*';7&9(%)@';#8'=_R>'

=0.)%)'7%('/3%&%,+$;77%1+%,'3*&'*))'%&$",,*'(%'2(f54&,*';&-*,2+*B)2;,%&,*+' 32$)2-*' &;11' +;7' ;:2,2;,+521(*&%@' 2,)&%++%;&-*,2+*)2;,' ;#8'4)./&*&%' *3' +;#2*1*' )6",+)%&>'F,'*,,*,'791+")),2,-' 3*&' *))' 4)3%#$1*'&%1*)2;,%,'7%11*,'+)*)%,';#8'(%,'2(%%11*'+%$);&,'+*7)'52(&*')211'(%++';5%&;%,(%';#8'+6"13+)",(2-8%)>'?%')&%':*&)%&,*'%,*(%+';7'%))'*,)*1':&2,#2:%&' +;7'+$*'4)3%#$1*' &%1*)2;,%&,*';#8' )0(12--/&*' &;11%&,*':*&)B%&,*'%7%11*,>'

I' 5/&6*,' *3' TUUL' .;&)+*))%' (2*1;-%,@' (%,,*' -9,-'7%(' ;&-*,2+*B)2;,%&'2,;7'2,)%-&*)2;,+;7&9(%)';#8'=_R>'=0.)%)'7%('(%,,*'(2*1;-'3*&' *))' ./&)0(12-*' &%1*)2;,%,'7%11*,' +)*)%,@' $;774,%&,*' ;#8' (%,'2(%%11*'+%$);&,'2'*&5%)%)'7%(',0*,1",(*+'%)*51%&2,-';#8'2,)%-&*)2;,'+*7)' *))' 4)3%#$1*' .;&7%&' ;#8'7%);(%&' ./&' *))' 2(f54&,*' ;&-*,2+*B)2;,%&,*':9'%))'5"))&%'+"))'+$*'$4,,*'7%(3%&$*'2'(%))*'*&5%)%>'?2*B1;-%,' &%+41)%&*(%' 2' 0))%&12-*&%' %,' /3%&%,+$;77%1+%@' (%,,*' -9,-'7%11*,' &%-%&2,-%,';#8' 2(f54&,*';&-*,2+*)2;,%&' 2,;7' 2,)%-&*)2;,+B;7&9(%)' ;#8' =_R@' 321$%,' 4,(%&)%#$,*(%+' TUKU>' h*&)%&,*' %,*(%+'"3%,'8"&';7'%))'*,)*1':&2,#2:%&'./&'(%)'.;&)+*))*'+*7*&5%)%)>''

?%)' "&' %))' ;7.*))*,(%' 4)54(' *3' 4)521(,2,-+B' ;#8' 521(,2,-+B2,+*)+%&'+;7'%&564(+'*3'2(f54&,*';&-*,2+*)2;,%&>'?"&4)/3%&'+$*:*&'(%' 2' +2,*',")3%&$',*)4&12-*':1*)+%&' ./&' 1"&*,(%@'$41)4&%&';#8'7/)%,'7%11*,'-%,%&*)2;,%&>'H))'.2,,*+'2'%))'+;#2*1)'+*77*,8*,-@'%D%7:%1B32+' %,' ./&%,2,-@' $*,' 3*&*' %,' 32$)2-' (%1' *3' (%)' 2,.;&7%11*' 1"&*,(%)'

<;?'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

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f54&,*';&-*,2+*)2;,%&,*' $*,' "3%,' )",$*'+2-'*))'7%(3%&$*'2'+:&9$4)521(,2,-@'%,12-)'3*('+;7'.&*7$;77%&'2'(%,';3*,',"7,(*'/3%&%,+$;77%1+%,>KK'

=_R' $;77%&' -%,;7' +%72,*&2%&' +:&2(*' -;(*' %D%7:%1' :9' 1;$*1'+*73%&$*,'7%11*,' $;774,%&' ;#8' 2(f54&,*' ;&-*,2+*)2;,%&>' F&.*&%,B8%)+4)50)%)'$*,'%,12-)'=_R'-%,%&%&*'1;$*1*'/3%&%,+$;77%1+%&'%11%&':9'*,(&*' +"))' 52(&*' )211' *))' (2*1;-' ;#8' $;,)*$)%&' 4::&"))8911+' 7%11*,'$;774,%&';#8'2(f54&,*';&-*,2+*)2;,%&>'

?%)'#2321*'+*78"11%)'8*&'(%.2,2)23)'%,'&;11'*))'+:%1*'2,;7'2,)%-&*B)2;,+;7&9(%)@'%.)%&+;7'2,)%-&*)2;,')211'+03%,(%';#8'+2+)'8*,(1*&';7'7%11*,7",+$12-*' &%1*)2;,%&>' [%(' %,' ./&+)"&$)' +*73%&$*,' 7%11*,'$;774,*1*'./&%)&"(*&%';#8'2(f54&,*';&-*,2+*)2;,%&'.2,,+'+);&*'7/6B12-8%)%&'*))'+$*:*';12$*')0:%&'*3':1*)).;&7*&'./&'32(*&%'+:&9$2,1"&,2,-@'59(%'4,(%&';#8'%.)%&'*3+14)*('+.2>'=;7')2(2-*&%',"7,)+'"&'(%)'79,-*'+;7'8*&':%$*)':9'5%8;3%)'*3',9-;,'.;&7'*3'+:&9$*&%,*'("&'7*,'8*&'7/612-8%)%&' *))' :&*$)2+%&*' (%' +:&9$$4,+$*:%&'7*,' ./&3"&3*&' 2,;7'+.2>' ?%)' -"11%&' .&*7./&' *11)' 2' 32++*' %),2+$)' +%-&%-%&*(%' 5;+)*(+B;7&9(%,' ("&' 7*,' $*,+$%' 2,)%' :&*)*&' +3%,+$*' /3%&' 8434(' )*-%)'4)*,./&' +.2B4,(%&32+,2,-%,>'`"&'$*,' 2(f54&,*';&-*,2+*)2;,%&' +:%1*'%,'32$)2-'&;11>''

E2' 8*&' +%))' -;(*' %D%7:%1' :9' ,"&' 2(f54&,*' ;&-*,2+*)2;,%&' 8*&'.4,-%&*)' +;7' +*7)*1+:*&),%&+' 2' 4,(%&32+,2,-%,>' I' %))' .*11' 3*&' (%)'h%,+2;,"&%&,*+' &2$+;&-*,2+*)2;,' Jh!GQ' +;7' +);(' ./&' (%))*>' ?%++*'$;,)*$)%&'3*&'8/-)'4::+$*))*(%'*3'59(%'+.2B(%1)*-*&,*';#8'(%':%&+;,%&'+;7'3*&'%,-*-%&*(%'2'h!G>'?%)'./&%$;77%&'"3%,'*))'+)4(2%./&54,('%&564(%&' 7%(+:&9$*&%@' 7%,);&%&' ;#8' +:&9$)&",*&%' ./&' ,0*,1",(*'2,3*,(&*&%>' =)4(2%./&54,(%,' 8*&' )2(2-*&%' *,;&(,*)' +3%,+$4,(%&32+B,2,-' ./&' 2,3*,(&*&%' ;#8' 5%(&23%&' .;&).*&*,(%' +.2' :9' 4::(&*-' *3'$;774,%&@';7'",'2'72,(&%'+$*1*>KT'=%(*,'TUUW'8*&'*,)*1%)'+;7'1"+)'+.2':9'+)4(2%./&54,('3*&2)'$,*::)'#2&$*'W'UUU'(%1)*-*&%':%&'9&>'=)4(2%B./&54,(%,'8*&';.)*'3"&(%.411*'1;$*1*',")3%&$'("&'59(%'./&%,2,-+123%)@'

'KK'kkk>&%-%&2,-%,>+%\+5\(\LXWP'KT'=)*)+$;,);&%)@'TUULNT@'=.2B&%+41)*)@' -%,;7./&*,(%';#8' 1"&*&$;7:%)%,+>'F,'4)3"&(%&2,-' *3'+3%,+$*'./&'2,3*,(&*&%>'

<;M'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

70,(2-8%)%&';#8'./&%)*-'$*,'2,-9>'=*77*,)*-%)'.2,,+'(%)'70#$%)'+;7')*1*&' ./&'*))' 2(f54&,*';&-*,2+*)2;,%&'$*,'+:%1*'%,'32$)2-'&;11' 2',0*,1",(*'2,3*,(*&%+'+:&9$4)3%#$12,->''

?"&4)/3%&' "&' "3%,' +;#2*1*' $;,)*$)0);&' *3' +);&' 5%)0(%1+%' ./&'+:&9$4)3%#$12,-%,@' 59(%' 4,(%&' ;#8' %.)%&' *3+14)*(' +.2>' ?%)' -"11%&'.&*7./&'*11)'./&':%&+;,%&'7%('$;&)'4)521(,2,-'+;7'5%(/7+'+)9'19,-)'.&9,'*&5%)+7*&$,*(%,>'?%)'"&'1"))'8",)'*))'7*,')*::*&'(%)'7*,'1"&)'+2-';7'7*,'2,)%'.9&'7/612-8%)%&'*))':&*$)2+%&*'+2,*'+:&9$$4,+$*:%&':9'%))',*)4&12-)'+"))'2'3*&(*-%,>'a3%,'8"&')&;&'32'*))'2(f54&,*';&-*,2+*B)2;,%&' +$411%' $4,,*' ,0))6*+' 2' 8/-&%'-&*(' 2' +0.)%' *))' 4::&"))8911*' ;#8'32(*&%4)3%#$1*'./&3"&3*(%'+3%,+$$4,+$*:%&>'?%)'$*,')>%D>'8*,(1*';7'*))'32(*&%4)3%#$1*'(%,'3*&(*-++3%,+$*'+;7'5%8/3+'./&'*))'7*,'+$*'$4,,*'$;774,2#%&*'7%(':%&+;,*1'2'./&+$;1*@'+$;1*@'+64$39&(@'70,B(2-8%)%&' %11%&' 2' *.."&%,>' Y%,;7' *))' .2,,*+' 7%(' 2' ;12$*' )0:%&' *3'+3%,+$+:&9$2-*'1;$*1*',")3%&$'$*,'"3%,'7/612-8%)%&,*'/$*'*))'.9'%,':&*$)2$:1*)+';#8'$*,+$%':9'+2$)'%))'*&5%)%>''

=*77*,.*)),2,-+32+' *,+%&' 32' *))' %,' 32(*&%4)3%#$1*(' +*73%&$*,':9'1;$*1',239'7%11*,'$;774,*1*'./&%)&"(*&%';#8'2(f54&,*';&-*,2+*B)2;,%&' 8*&' +);&*'7/612-8%)%&' *))' +)"&$*' +:&9$4)3%#$12,-%,@' 2,)%'72,+)'./&':%&+;,%&'+;7'5%(/7+'+)9'19,-)'2.&9,'*&5%)+7*&$,*(%,>''

?@?@: S4$%&,$A+(.4$0&'()*+,&A(CC$0&,-1&HK)&,3.+5O&&

E4D,*'7%('4)3%#$12,-++)/&,2,-'8*&'&"))'*))'(%1)*'2'+.2B4,(%&32+,2,-';#8'8*&'32('5%8;3'&"))' )211' +"&+$21)' +)/(>'n&'TUUO'",(&*(%+' ./&;&(B,2,-%,' JKLLMNOLPQ' ;7' +3%,+$4,(%&32+,2,-' ./&' 2,3*,(&*&%' ./&' *))'7/612--/&*'./&':%&+;,%&'7%('.4,$)2;,+,%(+")),2,-'*))'%&8911*'-;(B$",)' 5%)0-' "3%,';7'(%' 2,)%' $*,'4::.011*' *11*' 5%)0-+$&2)%&2%&>'G7'(%)' .2,,+' +"&+$21(*' +$"1' .9&' 1"&*&%,' 5;&)+%' .&9,' %,+)*$*' 5%)0-+B$&2)%&2%&' %11%&' .&9,' %,+)*$*' (%1*&' *3' 5%)0-+$&2)%&2%&>'[%(' +"&+$21(*'+$"1'*3+%+')>%D>'%,'.4,$)2;,+,%(+")),2,-'+;7'2,)%'"&'*3')211."112-',*)4&';#8'+;7'4)-/&'%))'(2&%$)'82,(%&'./&'%1%3%,'*))'4::.011*'$&*3%,'./&'%))'32++'$&2)%&247>'

C/&'*))'8*'&"))'*))'(%1)*'2'4,(%&32+,2,-%,':9'+"&34D'+$*':%&+;,%,'8*' .011)' TU' 9&' ;#8' 8*' (2*-,;+%,' 4)3%#$12,-++)/&,2,-' %11%&' 8*' %,'5%)0(*,(%' ;#8' 5%+)9%,(%' 5%-93,2,-+7"++2-' .4,$)2;,+,%(+")),2,-':9'-&4,('*3'%,'./&3"&3*('86"&,+$*(*>'[;))*-*,(%)'2'+"&+$21('4)521(B,2,-' ./&' 34D,*' J+"&34DQ'79+)%' ./&%-9+' *3' %,' ,;--&*,,' 4)&%(,2,-'./&' *))' .*+)+)"11*' ;7' %,' 2,(232(' 8*&' %,' 4)3%#$12,-++)/&,2,->' I' (%,',0*' +$;11*-%,' JTUKUNOUUQ' +"-+' *))' 5%+14)' ;7'7;))*-*,(%' 2' -&4,(B

<;"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

+"&+$;1*,'+$*'./&%-9+'*3'%,'4)&%(,2,-'+;7';7.*))*&'%,':%(*-;-2+$@':+0$;1;-2+$@' 7%(2#2,+$' ;#8' +;#2*1' 5%(/7,2,->' =$;13%&$%)' 8*&'4)*&5%)*)' *117",,*' &9(' ;#8' &%$;77%,(*)2;,%&' ./&' 4)&%(,2,-' ;#8'5%+14)' ;7' 7;))*-*,(%' 2' (%,' ;512-*);&2+$*' +"&+$;1*,>KW' c"&' (%)'-"11%&'5%+14)';7'7;))*-*,(%' 2'+"&34D'+*$,*+'7;)+3*&*,(%'5%+)"7B7%1+%&>' ?%)' .2,,+' 2,)%' 8%11%&' ,9-&*' +:%#2.2$*' &%$;77%,(*)2;,%&'+;7' 3",(%&' +2-' )211' 34D,*@' 4)*,' (%' *117",,*' &9(' +;7' =$;13%&$%)')*-2)' .&*7' +;7' &2$)*&' +2-' )211' (%,' ;512-*);&2+$*' +"&+$;1*,' *,3",(+'"3%,'./&'3"-1%(,2,-'*3'84&'%,'4)&%(,2,-'*3'34D,*'+$*'-%,;7./&*+>''

?%)'"&'2,)%',9-;)',0))':&;51%7'*))'(%)'+*$,*+'$4,+$*:%&';#8'&2$)B12,6%&' ,"&' (%)' -"11%&' 4)&%(,2,-*&' &/&*,(%' 34D,*>' !%(*,' 2' V*&15%#$B$;772))f,+KM'5%)",$*,(%'+"-+'*))'%,'(%1'*3'(%'2,3*,(&*&%'+;7'+)4(B%&*&' 2' +.2'70#$%)'3"1'$*,'8*'%,'4)3%#$12,-++)/&,2,-'7%,'*))'(%)'"&'+39&)'*))'5%(/7*@'%.)%&+;7'(%)'2,)%'.2,,+',9-&*')%+)%&'+;7'"&'*3:*+B+*(%'./&'(%,,*'-&4::'+*7)'*))'5&2+)*,(%'+:&9$$4,+$*:%&'4)-/&'%))'+);&)':&;51%7'2'+*77*,8*,-%)>'

_;772))f,'-6;&(%'5%(/7,2,-%,'*))'2,3*,(&*&%'2,)%'8*&'+*77*')211-9,-' )211' +"&34D' +;7' /3&2-*' 7%(' 4)3%#$12,-++)/&,2,->' I' %,'&*::;&)'-6;&('*3'=:%#2*1:%(*-;-2+$*'+$;170,(2-8%)%,'J=h=[QKP'3*&':&;51%7+)"11,2,-%,' (%,' 7;)+*))*@' +0.)%)' 3*&' (9' *))' $*&)1"--*' ;#8'*,*10+%&*' %,' %3%,)4%11' /3%&&%:&%+%,)*)2;,' *3' %1%3%&' 7%(' 4)1",(+$'5*$-&4,('7;))*-,*' 2' +"&+$;1*,>' =)4(2%,' ./&4)+*))%' *))' (%)' ./&%19-'%,'/3%&2,+$&23,2,-'*3'(%++*'%1%3%&@'7%,'(%))*'*,)*-*,(%'.2#$'(;#$'2,-%)' +)/(' 2' +)4(2%,>' a3%,' 2' %,' )2(2-*&%' +.2B4)&%(,2,-K]' ;7,"7,+'(%,,*':&;51%7*)2$>'?9'$;,+)*)%&*(%+'*))'.&9-*,';7'4)521(,2,-'./&'2,(232(%&'7%('4)1",(+$'5*$-&4,('+;7'8*&'4)3%#$12,-++)/&,2,-';#8'&"))' *))' (%1)*' 2' 59(%' +.2';#8'-&4,(1"--*,(%' +"&34D' "&'$;7:1%D';#8'7*,'+)"11(%'+2-'.&9-*,'321$%)'2,+)&47%,)'+;7'+$*'*,3",(*+'32('4)&%(B,2,-'*3'7",,2+$;&'7%('*,,*)'+:&9$';#8'*,(&*'$41)4&%11*'&%.%&%,+&*7*&'+*7)'3%7'+;7'8*&'$;7:%)%,+'*))'-/&*'%,'+9(*,'4)&%(,2,->'

?%)' "&' ,*)4&12-)32+' *3' +)/&+)*' 32$)' *))' ,0*,1",(*' 2,3*,(&*&%' .9&'(%)' +)/(' 2' 4,(%&32+,2,-%,' +;7' (%' 5%8/3%&' ;#8' (%)' "&' ;)211.&%(+B+)"11*,(%'*))'(%)'.;&).*&*,(%'&9(%&';+"$%&8%)'$&2,-'(%,,*'791-&4::>'^%8;3%)'*3'*))'*11*'-%+'7/612-8%)%&'*))'*,3",(*'(%,')2('+;7'+)9&')211'54(+'2,;7'+.2':9'%))'%..%$)23)'+"))'*##%,)4%&*+'*3',*)4&12-'+$"1'7%('%,')2(+5%-&",+,2,-'*3'+.2>'?%)'.2,,+'*,1%(,2,-'*))')&;'*))'32++*':%&B

'KW'=_GRC='TUUKNTW>'KM'=GS'TUUMNLO@'C/&';++')211+*77*,+>'G7'4)521(,2,-';#8'4)3%#$12,-++)/&,2,->'KP'=:%#2*1:%(*-;-2$' 2'79,-.*1(%,+'=3%&2-%'A'G7'%1%3%&'7%('4)1",(+$'5*$-&4,(' 2' +"&+$;1*,>'=:%#2*1:%(*-;-2+$*'+$;170,(2-8%)%,'TUUO>'K]'=GS'TUUWNXX@'E2(*&%'3"-*&';#8'3"-%,'32(*&%>'=3%,+$*'+;7'*,(&*+:&9$'./&'+*78"11+B';#8'*&5%)+123>'

<;G'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

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a3%,'8*,(1"--,2,-%,'8*&'5&2+)%&';#8'"&'&"))+;+"$%&>'

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

F,12-)'./&;&(,2,-%,'JKLLMNOLPQ';7'+3%,+$4,(%&32+,2,-'./&'2,3*,(&B*&%' .9&' +.2' $;752,%&*+' 7%(' *,,*,' 4)521(,2,-' 2,;7' (%)' ;..%,)12-*'+$;13"+%,(%)>'?%)'.2,,+'+91%(%+'7/612-8%)%&'*))'$;752,%&*'+.2'7%('+)4(2%&' 2,;7'+"&34D>'Y07,*+2%+"&+$;1%4)&%(,2,-%,'+$2#$*(%'4)'%,'%,$")' 7%(' 51*,(' *,,*)' .&9-;&' ;7' (%)' ./&%$;77%&' ,9-;,' +*7B

'KX'=$;12,+:%$)2;,%,'TUKKN'="&+$;1*,>'Y&*,+$,2,-'*3'8*,(1"--,2,-';#8'4)&%(,2,-'2,./&'5%+14)';7'7;))*-*,(%>'

<;!'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

3%&$*,' 7%11*,' $;774,%,+' +"&34D' ;#8' +.2>KO' V2&$*' WX' :&;#%,)'+3*&*(%'6*':9'.&9-*,';7'(%)'./&%$;77%&',9-;,'+*73%&$*,@']U':&;B#%,)'+3*&*(%',%6';#8'(&0-)')&%':&;#%,)'*))'(%'2,)%'32++)%>'h9'.&9-*,';7' 84&' +*73%&$*,' +%&' 4)' 8*&' .1%&*' +3*&*)' *))' 3%&$+*78%)%&,*' .2,,+'2,;7' +*77*' %,8%)>' F,12-)' %,$")+3*&%,' ./&%$;77%&' (%)' ;#$+9' *))'*,+)"11(*' 4,(%&32+*&' 59(%' :9' +"&34D' ;#8' +.2>' I' *,(&*' .*11' 4),0))6*+'$;7:%)%,+%,' /3%&' -&",+%&,*>' c9-&*' +3*&*&' *))' (%)' "&' %,' +);&'4)7*,2,-' ./&' %,' 12)%,'$;774,' *))' *,;&(,*' -07,*+2*1' +"&34D';#8'*))' (%)' $&"3+' +*73%&$*,' 7%(' ,"&12--*,(%' $;774,%&' ;#8' 7%('-07,*+2%+"&+$;1*,>'

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

?%)' ./&%$;77%&' &%(*,' 2' (*-' +*73%&$*,'7%11*,' +.2' ;#8' +"&34D';#8'32')&;&'*))'%,'/$*('+*73%&$*,'$*,'52(&*')211'%,':;+2)23'4)3%#$B12,-' 2,;7'(%))*';7&9(%>'?%)'$*,' 2,)%'72,+)'4)3%#$1*'(%,' +:%#2*1B:%(*-;-2+$*'$;7:%)%,+'+;7'$&"3+' ./&'*))' 2'%))' )2(2-)' +$%(%'$4,,*'2(%,)2.2%&*' :%&+;,%&' +;7' 8*&' 2,1"&,2,-++39&2-8%)%&' )211' ./16(' *3' %,'4)3%#$12,-++)/&,2,->'?%)'7/612--/&'2'+2,')4&'*))'4,(%&32+,2,-%,'$*,'*,:*++*+')211'(%,,*'791-&4::':9'%))'5"))&%'+"))>'

'KO'!%+41)*)%)' .&*7-9&' 2' +2,' 8%18%)' 2' 5%)",$*,(%)'?%,' .&*7)2(*' -07,*+2%+"&+$;1*,' A' %,' 12$B3"&(2-'4)521(,2,-'./&'4,-(;7*&'7%('4)3%#$12,-++)/&,2,-'J=GS'TUKKNOQ>'

<;I'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

?@?@? T0/(.4HAA50$C&,$A+(.4$0&&

!"#$%&'B.• R",++)0&%1+%&,*' .9&' 2' 4::(&*-' *))' .&"76*' +*73%&$*,' 7%11*,'

$;774,%&'+;7'5%(&23%&'+.2@'2'+0.)%'*))'/$*'7/612-8%)%&,*'*))'%&564(*'%,'(2..%&%,)2%&*('4,(%&32+,2,->''

'F))'9)%&$;77*,(%':&;51%7'./&'72,(&%'$;774,%&'"&'+39&2-8%)%&,*'*))'4)2.&9,'%))'5%-&",+*)'(%1)*-*&4,(%&1*-'$4,,*'%&564(*')211&"#$12-)'(2..%&%,)2%&*(%' 4,(%&32+,2,-+-&4::%&' +;7' +3*&*&' 7;)' (%1)*-*&,*+'4)521(,2,-+5*$-&4,(@'/,+$%791@';#8'(%'5%8;3'*3'+"&+$21)'+)/('+;7'$*,'./&%12--*>'?%)'-"11%&'+"&+$21)'./&'(%1*&'*3'c;&&1*,('("&'2,3*,(&B*&,*'4)-/&'%,'8%)%&;-%,'-&4::'+*7)2(2-)'+;7'(%)'"&' 19,-*'*3+)9,('7%11*,' )");&)%&,*>'`"&' .2,,+' 59(%' $3;).10$)2,-*&@' *,8/&2-2,3*,(&B*&%@' *&5%)+$&*.)+2,3*,(&*&%@' 32++*' +"+;,-+*&5%)*&' +;7'512&' $3*&' 4,(%&'%,' 1",-&%' :%&2;(' J;.)*' 5"&:1;#$*&%Q' ;#8' l,050--*&%l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

I'&*::;&)%,'lH11*'$*,'2,)%'-/&*'*11)'A'7%,'*11*'$*,'-/&*',9-;)l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

I'(%))*' +*77*,8*,-'"&'(%)' 2,)&%++*,)'*))' )2))*',"&7*&%':9' 1",+B+)0&%1+%&,*+' 4::-2.)%&' ,"&' (%)' 8*,(1*&' ;7' (%' ,*)2;,%11*' 2,)%-&*B

'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''KL'=3%&2-%+'_;774,%&';#8'R*,(+)2,-@'G7'&%-2;,*1)'+*7*&5%)%'$&2,-',0*,1",(*'2,3*,(&*&%+'%)*51%&2,-@'TUUL>'

<;>'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

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

E2'./&+19&'("&./&'*))'1",++)0&%1+%&,*'.9&'2'4::(&*-'*))'.&"76*'+*7B3%&$*,'7%11*,'$;774,%&'+;7'5%(&23%&' +.2@' 2' +0.)%' *))'/$*'7/612-B8%)%&,*'*))'%&564(*'%,'(2..%&%,)2%&*('4,(%&32+,2,->'I'4::(&*-%)'5/&'2,-9'*))'(%1+'-/&*'%,'5%8;3+2,3%,)%&2,-'*3'321$%,')0:'*3'+*73%&$*,'

<<;'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

+;7'5%8/3+' ./&' *))' .9' )211' +)9,(' %,'7%&' 2,(232(4*12+%&*(' 4,(%&32+B,2,-@'(%1+'32('5%8;3'-%'./&+1*-':9'84&'%,'+*73%&$*,'/3%&'$;774,B-&",+%&,*'$*,'4).;&7*+'4)2.&9,'(%1)*-*&,*+'5%8;3';#8'./&4)+")),2,-*&>'

?%)'"&'"3%,'3"&)'*))',;)%&*'*))'(%' ./&+1*-'+;7'32' 1"--%&',"&'(%)'-"11%&'.1%D25%1)'1"&*,(%'2')2(2-*&%'*3+,2))'2'(%))*'$*:2)%1';#$+9'5%(/7+'8*':;)%,)2*1'*))'/$*'+*7*&5%)%)'/3%&'$;774,-&",+%&,*';#8'("&7%('+$*:*'7/612-8%)%&')211'%))'7%&'(2..%&%,)2%&*)'4)54(>''

?@M NH./,3//0102(0&(-/(.&,-1&

E9&*'./&+1*-'+0.)*&')211'*))'%..%$)232+%&*'4)521(,2,-%,'+9'*))'(%)'+$*:*+'-0,,+*77*&%'./&4)+")),2,-*&'./&'2,3*,(&*&%'*))'2,)%-&%&*+'2'+*78"11%)';#8'./&'*))'(%'+,*55*&%'+$*'$4,,*'%)*51%&*'+2-':9'*&5%)+7*&$,*(%,>'^%8;3%)'*3'*))'4)3%#$1*'+2,*'."&(2-8%)%&'2'+3%,+$*')*&'%7%11%&)2('2,)%'+14)' ./&' *))' 7*,' .9))' *&5%)%' ;#8' %,' 2,$;7+)' ;#8' $*,' ./&+/&6*' +2-'+6"13>' I' (*-' 12--%&' .;$4+' )211' +)/&+)*' (%1%,' :9' +.2' ,"&' (%)' -"11%&'2,3*,(&*&%+' +:&9$2,1"&,2,->' =.2' +)9&';.)*' +;7'+*712,-+,*7,' ./&' *11'+3%,+$4,(%&32+,2,-' ;#8' ./&3",),2,-*&,*' "&' 8/-*' :9' *))' (%)' 64+)'2,;7'(%,,*'+$;1.;&7'+$*' .2,,*'7/612-8%)%&'*))' )211-;(;+%'5%8;3%)'*3' +3%,+$4,(%&32+,2,-' 2' 123%)+' ;12$*' +$%(%,>' H))' 1"&*' +2-' %))' ,0))'+:&9$'"&'%7%11%&)2('%))' 123+19,-)':&;6%$)';#8'(%)'79+)%'.2,,*+'7/6B12-8%)%&'*))'1"&*'+2-'+3%,+$*':9';12$*'+"))';#8'32(';12$*')2(:4,$)%&'2'123%)>'

=;7')2(2-*&%',"7,)+'4)-/&'+.2'(%,'./&+)*'32$)2-*'5*+%,'./&'(%)'123+B19,-*' 1"&*,(%)' *3' (%)' +3%,+$*' +:&9$%)>' G*3+%))' 3*(' 7*,' 1"--%&' 2'5%-&%::%)'l*))'3*&*'."&(2-'7%('+.2l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

<<<'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

?@M@< 7/5%1(EC$0(0&,4$&3+(0&HA-$//$&%(C/$2$.(0,&EC$0(.&(-/(.&$+,C5/$%&,-1&&

=;7')2(2-*&%',"7,)+'$;77%&'(%)'*))'.&9,';#8'7%('(%,'K'6412'TUKT'512' ;512-*);&2+$)' 7%(' 2,(232(4%11*' +)4(2%:1*,%&' "3%,' 2,;7' 4)521(B,2,-%,' 2' +3%,+$*' ./&' 2,3*,(&*&%>' =)4(2%:1*,%,' $;77%&' *))' 512' %))'32$)2-)' 3%&$)0-' 32(' :1*,%&2,-%,' *3' 84&' (%1)*-*&%,+' 4)521(,2,-' +$*'1"--*+' 4::' ;#8' +$*' 2,,%8911*' 4::-2.)%&' ;7' (%,' %,+$21(%+' 4)521(B,2,-+791';#8':1*,%&*(';7.*)),2,-'*3'+)4(2%&,*' 12$+;7'(%,'%,+$21(%+'5%8;3@'/,+$%791';#8'./&4)+")),2,-*&>''

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f54&,*';&-*,2+*)2;,%&' +:%1*' %,'32$)2-' &;11>'?%)'2,,%5"&'*))'.1%&'*$)/&%&'",'2'(*-'$*,'512'2,5%-&2:,*'2':&;#%++%,'7%('*))' 4::&"))*' ;#8' ./16*' 4::' +)4(2%:1*,%,>' C/&4);7' 1"&*&%' $*,' (%)')>%D>'8*,(1*';7'+)4(2%3"-1%(*&%';#8'+0;$;,+41%,)%&>''

'TU'=V^'d%7*51*('TUULNK>'

<<:'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

?@M@: U(2(C+(.4(/&'()*+(.&4C$.2*.$,&

!"#$%&'B.• =$;12,+:%$)2;,%,' .9&' 2' 4::(&*-' *))' ./16*' 4::' 84&' 2,)%,B

)2;,%&,*'2'(%'+)0&(;$47%,)'+;7'-"11%&'./&'(%,'-&4,(1"--*,(%'34D%,4)521(,2,-%,')211"7:*+'2':&*$)2$%,>'

• E2('5%8;3'+$*'=$;12,+:%$)2;,%,'./&%+19'9)-"&(%&'2'+0.)%'*))'.9')211' +)9,('%,'5"))&%'/3%&%,++)"77%1+%'7%11*,'+)0&(;$47%,)%,+'2,)%,)2;,%&';#8')211"7:,2,->''

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`6"1:7%(1%)'+;7'10.)+'.&*7'2'(%))*'+*77*,8*,-'"&'(%'2,(232(4%11*'+)4(2%:1*,%&,*>'?%)'.2,,+' +91%(%+' 2,-%)' 2' (%)' ,43*&*,(%' &%-%13%&$%)' +;7' ;7/612--/&' %,'+72(2-' /3%&-9,-' .&9,' 4)521(,2,-' 2' +3%,+$*' ./&' 2,3*,(&*&%' )211' /3&2-'34D%,4)521(,2,->''

?%)'"&'(;#$'19,-)'2.&9,'*11)2('+;7'(%)'"&'12$*'.1%D25%1)'2':&*$)2$%,>'E2'8*&'4,(%&'39&*'+)4(2%5%+/$';.)*'+)/))':9'4::.*)),2,-%,'*))'7*,'./&+)' 79+)%' 8*' 4::,9))' -;($",)' 2' +.2' :9' ?B,239' 2,,*,' 7*,' $*,'.;&)+"))*' 1"+*' +3%,+$*' +;7' *,(&*+:&9$' 2,;7' $;734D>' ?%)' "&'2,)&%++*,)' *))' ,;)%&*' *))' (%,,*' )"712-%,' #%7%,)%&*(%' 4::.*)),2,-')0#$+' 1%3*' +2))' %-%)' 123' 32(' +2(*,' *3'(%' +)0&(;$47%,)' +;7' .*$)2+$)'-"11%&'./&'(%,'-&4,(1"--*,(%'34D%,4)521(,2,-%,>'`"&'.2,,+'%))'+);&)'2,.;&7*)2;,+:&;51%7'+;7'5%8/3%&'9)-"&(*+@'321$%)'"&'%,'4::-2.)'./&'=$;13%&$%)>'I'*,,*)'.*11'&2+$%&*&'+)4(2%)2(%,'./&',0*,1",(*'2,3*,(&B*&%'*))'./&1",-*+'2';,/(*,>''

E2'./&%+19&'*))'=$;12,+:%$)2;,%,'.9&'2'4::(&*-'*))'./16*'4::'84&'(%'2,)%,)2;,%&' +;7' 9)%&+:%-1*+' 2' (%' +)0&(;$47%,)' +;7' -"11%&' ./&' (%,'-&4,(1"--*,(%' 34D%,4)521(,2,-%,' )211"7:*+' 2' :&*$)2$%,' +*7)' 32('5%8;3'./&%+19'9)-"&(%&'2'+0.)%'*))'.9')211'+)9,('%,'5"))&%'/3%&%,++)"7B7%1+%'7%11*,'2,)%,)2;,%&';#8')211"7:,2,->'

<<?'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

?@M@? S4$%&F.4(,E.H-1C(.102&10HA&%(0&2.50%C322$0%(&+5O(05/'1C%0102(0&&&

h%&+;,%&'+;7'8*&'%,'19-'4)521(,2,-+,239'32('*,$;7+)%,')211'=3%&2-%'8*&';.)*'%,'19,-'3"-'*))'-9'2,,*,'(%'.9&'+2))'./&+)*'*&5%)%>'I51*,('"&'3"-%,';,/(2-)'19,-@'%,12-)'(%'2,)&0#$'32'.9))'4,(%&'39&*'+)4(2%5%+/$>'[%(')*,$%':9'(%,'4::./&+5*#$%'32++*'8*&'.&*7./&'+2-'"&'(%)'("&./&'*,-%1"-%)'*))' +"&+$21)' .;$4+%&*':9'(%,,*'-&4::',"&'(%)'8*,(1*&';7'*))'+,*55*&%'$4,,*'%)*51%&*'+2-':9'*&5%)+7*&$,*(%,>''

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c"&'(%)'-"11%&'+.2'.2,,+'2,-%)'$1*&1*-)'+*75*,('7%11*,'1",-&%' )2(' 2' +.2';#8'/$*(%'7/612-8%)%&' *))' .9' *&5%)%>'!%,)'-%,%&%11)'/$*&'%)*51%&2,-%,':9'*&5%)+7*&$,*(%,'64'1",-&%')2('+;7'-9))'+%(*,'2,3*,(&2,-%,>'?"&%7;)' :93%&$*+' 2,)%' %)*51%&2,-+-&*(%,' 2' 12$*' +);&'4)+)&"#$,2,-'*3';7'7*,'+14)./&)'+.2B4,(%&32+,2,-%,'%11%&'%6>TK'

H))'./&1",-*'4)521(,2,-+)2(%,'/$*&'+91%(%+'2,)%':%&'*4);7*)2$'7/6B12-8%)%&,*' *))' .9' *&5%)%>'H))'7%(3%)%)' +$64)*'4::' 2,)&"(%)':9' *&5%)+B7*&$,*(%,' $*,' +,*&*&%' ./&+39&*' 7/612-8%)%&,*' *))' .9' *&5%)%' 2' %))'1",-&%':%&+:%$)23>'I'(*-')%,(%&*&'32++*'19-4)521(*(%':%&+;,%&'*))'512'2,19+)*'2'%,'+.2B4,(%&32+,2,-'+;7'&2+$%&*&'*))'512'%,'9)%&3",(+-&",(>'?%)'"&';10#$12-)';7'7;)+3*&*,(%':&;51%7'.10))*+'/3%&')211'34D%,4)B521(,2,-%,'32('%,')2(+5%-&",+,2,-'*3'+.2>'h%&+;,%&'+;7'+*$,*&'4)521(B,2,-' .&9,' +2))' 8%71*,(' %11%&' +;7' %,(*+)' 8*&' %,' $;&)' 4)521(,2,-' 32('*,$;7+)%,')211'=3%&2-%'79+)%'.9'7/612-8%)%&'*))'$;77*'4)'2'*&5%)+123%)'4)2.&9,'(%,'$;7:%)%,+'(%'8*&>'

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

'TK'=3%,+$)'c"&2,-+123'TUKUN'=3%,+$*' +;7'J*11*Q' *,(&*' +:&9$@' %,'/3%&+2$)' *3' +3%,+$4,(%&32+B,2,-%,>'

<<M'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

,2,-%,' )0#$+' 3*&*' *))' (%)' 2,)%' .2,,+',9-;,':1*)+' ./&' $;&)4)521(*(%'2,3*,(*&%'2'(*-%,+'=3%&2-%>'

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

G/3+0-&10/-2-.C#62./78.$4#56.A"#6/#1&#.9:'2-.10%%.&#+212.

!"#$%&'!"• =$;13%&$%)' .9&' 2' 4::(&*-' *))' -%,;7'*117",,*' &9(' )0(12--/&*'

84&'7*,':9'%))'5"))&%'+"))'$*,'9+)*($;77*'%,'0&$%+2,&2$)*('+)4(2%-9,-'2,;7'34D%,4)521(,2,-%,>''

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

H))'.9'7/612-8%)%&'*))'+)4(%&*'':9';12$*',239%&'+*7)2(2-)'$*,'3*&*'*3'+);&)'3"&(%'./&'*))'%,'2,(232('+$*'$4,,*',9'+2,*'791>'?%)'$*,')>%D>'8*,(1*' ;7' *))' %,' :%&+;,' %.)%&' *3+14)*(' +.2' 8*&' ./&4)+")),2,-*&' *))')211-;(;-/&*'+2-'%))'0&$%+:&;-&*7':9'-07,*+2*1',239'4,(%&'./&4)+"))B,2,-' *))' 8*,' %11%&' 8;,' +*7)2(2-)' .9&' 7/612-8%)%&' *))' ./&5"))&*' +2,*'+3%,+$$4,+$*:%&':9'-&4,(1"--*,(%',239>''

<<"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

?*-%,+'$4&+:1*,%&';#8'+)0&(;$47%,)'1"--%&'2,-*'82,(%&'2'3"-%,'./&' *))' 9+)*($;77*' %,' +9(*,' *,:*++*(' +)4(2%-9,->' I' :&*$)2$%,' "&'(;#$' 4)521(,2,-%,' 3*,12-)32+' 2,)%' *,:*++*(' :9' (%)' ;3*,' 5%+$&23,*'+"))%)@'4)*,'7*,')%,(%&*&'*))' +%':9'(%,' 2' .;&7'*3'%,')&*::*'("&'%,',239'79+)%'$1*&*+'*3'2,,*,'(%)'$*,'512'*$)4%11)'7%(',"+)*>''

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

E2' ./&%+19&' ("&./&' *))' =$;13%&$%)' .9&' 2' 4::(&*-' *))' -%,;7' *11B7",,*'&9(')0(12--/&*'84&'7*,':9'%))'5"))&%'+"))'$*,'9+)*($;77*'%,'0&$%+2,&2$)*('+)4(2%-9,-'-%,;7'*))'$;752,%&*'"7,%)'+3%,+$*'+;7'*,(&*+:&9$' :9' -&4,(1"--*,(%' ,239' 7%(' 0&$%+2,&2$)*(%' $4&+%&' :9'-07,*+2*1',239>''

C/&+1*-%)'$*,'$;77*'*))'2,,%5"&*'*))'$4&+:1*,%,'2'"7,%)'=3%,+$*'+;7'*,(&*+:&9$'2,;7'(%,'-&4,(1"--*,(%'34D%,4)521(,2,-%,'5%8/3%&'+%+' /3%&@' %.)%&+;7' ,43*&*,(%' $4&+:1*,' :&27"&)' "&' 4).;&7*(' ./&' *))'1"--*'-&4,(%,'./&'.;&)+*))*'+)4(2%&'2'+3%,+$*'2'%,'7%&'-%,%&%11'5%7"&$B%1+%>'E2' 1"--%&'(;#$' 2,-*' ./&+1*-' 2' (%))*' +$%(%@' 4)*,' 1"7,*&'(%,,*'.&9-*')211'=$;13%&$%)'./&'5%(/7,2,->'

?@M@M U14/$%(&$.'(/,A$.40$%,5/'1C%0102$.&&

!"#$%&'!"• H&5%)+./&7%(12,-%,' .9&' 2' 4::(&*-' *))' 4).;&7*' *&5%)+7*&$B

,*(+4)521(,2,-*&' ./&' :%&+;,%&' +;7' "&' *,*1.*5%)%&' %11%&' 8*&'$;&)' 4)521(,2,-' 32(' *,$;7+)%,' )211' =3%&2-%' ;#8' +;7' %.)%&'*3+14)*('4)521(,2,-'2'+3%,+$*'./&' 2,3*,(*&%'+/$%&'*&5%)%';#8'5%(/7+'$4,,*'.9'(%)'2,;7'5&*,+#8%&'("&'(%)'2,)%'"&'+9'8/-*'$&*3':9'+3%,+$$4,+$*:%&>''

• H&5%)+./&7%(12,-%,' .9&' "3%,' 2' 4::(&*-' *))' 4).;&7*' 0&$%+B2,&2$)*(%' $4&+%&' 2' +3%,+$*' ./&' :%&+;,%&' 7%(' 5&2+)."112-*'

<<G'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

+3%,+$$4,+$*:%&'+;7'%.)%&'%,')2(+'./&3"&3+*&5%)%'51232)'*&5%)+B1/+*';#8'+;7'+/$%&',0))'*&5%)%>''

'h%&+;,%&' +;7' 3*&2)' *,*1.*5%)%&' %11%&' +;7' 8*.)' $;&)' 4)521(,2,-' 32('*,$;7+)%,')211'=3%&2-%'8*&';.)*'%,'70#$%)'19,-'3"-'*))'-9'2,,*,'(%'8*&'+$*..*)'+2-'(%,'-&4,(4)521(,2,-'+;7'(%'.1%+)*'2'=3%&2-%'8*&>'C/&'79,-*'8*,(1*&'(%)';7'*))'./&+)'$1*&*'*3'+.2' '+;7'2,)%'+"11*,'$*,')*'.1%&*'9&';#8'+%(*,'9)%&+)9&'0))%&12-*&%'%))'*,)*1'9&' 2,;7'(%,'-&4,(B1"--*,(%'34D%,4)521(,2,-%,'2,,*,'7*,'$*,'5/&6*';&2%,)%&*'+2-'7;)'*&5%)+7*&$,*(%,>' =*7)2(2-)' 8*&' 32' 8/&)'79,-*' 1"&*&%' +;7' 32)),*)';7'A';#8'32'8*&'"3%,'+6"13*'+%))'A'*))':%&+;,%&'+;7'3*&2)'*,*1.*5%)%&'32('*,$;7+)%,')211'=3%&2-%';.)*'8*&'%,'70#$%)'+)*&$'%-%,'(&23$&*.)'2'1"&*,(%)>' H))' ",)12-%,' .9' %,' #8*,+' )211' 4)521(,2,-' +%+' +;7' %,' +);&'7/612-8%)';#8'79,-*'3211'.9'%))'*&5%)%'+9'+,*&)'+;7'7/612-)>'[9,-*'"&'3*,*'*))'*&5%)*';#8'8*&'*&5%)*)'4,(%&'8%1*'+2))'123>'F,'(%1'8*&'"3%,'3%&$*)' +;7' %,)&%:&%,/&%&' *3' ;12$*' +1*->'E2' 8*&' 4,(%&' 39&*' +)4(2%B5%+/$'.9))'%D%7:%1':9'./16*,(%'0&$%,'+;7'*,*1.*5%)%&'8*&'%&.*&%,B8%)%&' *3N' 5217%$*,2$%&@' +)"(*&%@' +$&"((*&%@' &/&7;$*&%@' 5*-*&%' ;#8'.&2+/&>'?%))*'"&'(&23$&*.)%&'+;7'32'5;&(%')*')2113*&*':9'%))'5"))&%'+"))@'%,12-)'39&'7%,2,->'F))'+"))'*))'-/&*'(%)'"&'*))'2,)%'3",)*'2'$*,+$%')2;'9&'2,,*,'.&9-*,';7'*&5%)%'*$)4*12+%&*+>'

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

I'(*-'.2,,+'7/612-8%)%&'*))'$;752,%&*'+.2'7%('2,+*)+%&'.&9,'H&5%)+B./&7%(12,-%,>' ?%)' $*,' )>%D>' 8*,(1*' ;7' 2,+)%-+6;55@' *&5%)+:&*$)2$'%11%&' ;12$*' )0:%&' *3' ./&5%&%(*,(%' 4)521(,2,-*&>' G7.*)),2,-%,' *3'(%++*' +>$>' $;752,*)2;,+2,+*)+%&' 3*&2%&*&' &4,)';7' 2' 1*,(%)>'H&5%)+B

<<!'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

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

'TT'C/&5%&%(%1+%*&5%)%)'2,./&'(%,',0*'1*-%,'JTUKUNKLXQ';7'%)*51%&2,-+2,+*)+%&'./&'32++*',0*,B1",(*@'H&5%)+./&7%(12,-%,+'9)%&&*::;&)%&2,-'TUKU>'TW'C/&;&(,2,-'JTUUXNKUWUQ'7%('2,+)&4$)2;,'./&'H&5%)+./&7%(12,-%,>'

<<I'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

%,(*+)' $&"3+' 5%-&",+*(%' +:&9$$4,+$*:%&' 51232)' *&5%)+1/+*' ;#8' :9',0))'+/$%&'*&5%)%>''

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

?@M@" V1%,'(2.30,0102&$+&,-1&W&4H0,(4+(0,(.&-*.&,HK1$C/P30,/(0&&

I' (2&%$)23%,' )211' 4)&%(,2,-%,' +)"11+' 51*,(' *,,*)' .&9-*,';7'%,' )2(+B5%-&",+,2,-' *3' +.2' 2,,%5"&' *))'$;774,%&,*+'7/612-8%)%&' *))' +)"11*'$&*3':9'+)4(2%&'2'+3%,+$*'$*,'$;77*'*))'2,+$&",$*+>'I'(%))*'*3+,2))'5%+$&23%&'32',"&7*&%'(%,'*,*10+'32'8*&'-6;&)'*3'$;,+%$3%,+%&,*'./&'+;#2*1)6",+)%,'7%('*,1%(,2,-'*3'(%,,*'.&9-*>'

I'M'$*:'K'e'+;#2*1)6",+)1*-%,'JTUUKNMPWQ'&%-1%&*+'&"))%,')211'52+)9,(>'`"&' .&*7$;77%&' *))' (%,' +;7' 2,)%' +6"13' $*,' )211-;(;+%' +2,*' 5%8;3'%11%&'$*,'.9'(%7')211-;(;+%((*':9'*,,*)'+"))'8*&'&"))')211'52+)9,('*3'+;#2*1,"7,(%,'./&'+2,'./&+/&6,2,-'J./&+/&6,2,-++)/(Q';#8'./&'+2,'123+B./&2,-' 2' /3&2-)>' ?%,' %,+$21(%' +$*' -%,;7' 52+)9,(%)' )211./&+"$&*+' %,'+$"12-'1%3,*(+,239>'^2+)9,(%)'+$*'4).;&7*+'+9'*))'(%)'+)"&$%&'8*,+'%11%&'8%,,%+'7/612-8%)%&'*))'1%3*'%))'+6"13+)",(2-)'123>'

I'=;#2*1+)0&%1+%,+'8*,(5;$'l=)/('./&'&"))+)211"7:,2,-';#8'8*,(B1"--,2,-l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

'TM'F$;,;72+$)' 52+)9,(@' =)/(' ./&' &"))+)211"7:,2,-';#8' 8*,(1"--,2,-' *3' "&%,(%,' 2' (%,'$;7B74,*1*'8%7)6",+)%,@'TUUW>'

<<>'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

.9>'?%,'%,+$21(%'8*&'7%('*,(&*';&('2,)%'&"))'*))'*3+)9'.&9,'*))'*&5%)*'8%1)2(';#8'$;7:%,+%&*'2,$;7+)5;&).*11%)'7%('%$;,;72+$)'52+)9,('%,12-)'M'$*:>'K'e'+;#2*1)6",+)1*-%,>'

=$01(2-8%)%,'*))'+/$*'*&5%)%'2,$14(%&*&'2':&2,#2:';#$+9'(%1)*-*,(%'2'3%&$+*78%)'+;7'*,;&(,*+'./&'*&5%)+1/+*'2,;7'&*7%,'./&'*&5%)+7*&$B,*(+:;12)2$%,@' )>%D>' *&5%)+7*&$,*(+4)521(,2,-@' :&*$)2$' %11%&' *&5%)+B&%8*5212)%&*,(%'9)-"&(%&>'a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

S,(%&' KLLUB)*1%)+' %$;,;72+$*' $&2+' .2#$' 32++*' -&4::%&@' +"&+$21)'4,-(;7*&@' +);&*' +39&2-8%)%&' *))' %)*51%&*' +2-' :9' *&5%)+7*&$,*(%,>'?%)'.2#$')211' ./16('*))'(%' 2'/$*('4)+)&"#$,2,-'3*&'8",32+*(%')211' ./&B+/&6,2,-++)/('./&'+2,'./&+/&6,2,->'I'+0.)%'*))'5&0)*'(%,,*'4)3%#$12,-'./&)0(12-*(%'&%-%&2,-%,'2':&;:;+2)2;,%,'a,(&2,-'2'+;#2*1)6",+)1*-%,'J:&;:>'KLL]\LXNKTMQ'+;#2*1)6",+)%,+'+$01(2-8%)'*))'52+)9'7%('*$)23*'9)-"&(%&'+*7)'(%,'%,+$21(%+'%-%)'*,+3*&'*))'-/&*'3*('7*,'$*,'./&'*))'512' +6"13./&+/&6*,(%>' c0*' 5%+)"77%1+%&' 2,./&(%+' +;7' -%&' $;7B74,%,' &"))' *))' 5%-"&*' *))'4,-(;7*&'4,(%&'TP' 9&' +;7'4::5"&' ./&B+/&6,2,-++)/('+$*'(%1)*'2':&*$)2$'%11%&'*,,*,'$;7:%)%,+8/6*,(%'3%&$B+*78%)>'?%',0*'5%+)"77%1+%&,*'&%-1%&*+'2'M'$*:>'M'e'+;#2*1)6",+)1*-%,'JTUUKNMPWQ';#8'2,,%5"&'*))'+;#2*1,"7,(%,'$*,'+)"11*'$&*3':9'*))'(%,'+;7'.9&'./&+/&6,2,-++)/('+$*'(%1)*'2'32++':&*$)2$'%11%&'l$;7:%)%,+B8/6*,(%'3%&$+*78%)l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

'TP'=G=C='TUUWNP>'T]'F$;,;72+$)' 52+)9,(@' =)/(' ./&' &"))+)211"7:,2,-';#8' 8*,(1"--,2,-' *3' "&%,(%,' 2' (%,'$;7B74,*1*'8%7)6",+)%,@'TUUW>'

<:;'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

1"))*' ./&' (%,' %,+$21(%' *))' .9' +0++%1+")),2,-' ;#8' $4,,*' ./&+/&6*' +2-'+6"13>''

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

=*77*,.*)),2,-+32+'$*,'32'$;,+)*)%&*'*))'5%+)"77%1+%,'2'+;#2*1B)6",+)1*-%,' 2,)%' %,(*+)' ,"7,%&' +.2' +;7' $;7:%)%,+8/6*,(%' 3%&$B+*78%)@'4)*,'*))'(%)'.2,,+'7/612-8%)'*))'+)"11*'$&*3':9'*,(&*')0:%&'*3'$;7:%)%,+8/6*,(%'9)-"&(%&'4)/3%&'+.2>'c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

F,')2(+5%-&",+,2,-'*3'4)521(,2,-'2'+3%,+$*'./&'2,3*,(&*&%'5%(/7+'("&./&' 12--*'2' 12,6%'7%('(%,'791+")),2,-'+;7'&%(*,'.2,,+' 2,;7'(%))*';7&9(%>' =;7' )2(2-*&%' ,"7,)+' 8*&' 32++*' (%1)*-*&%' )%,(%&*)' *))' 512'$3*&' 2,;7'4,(%&32+,2,-%,' 1",-&%':%&2;(%&' 4)*,' *))' -/&*' .&*7+)%->'d211'(%,,*'-&4::'8/&'51*,('*,,*)':%&+;,%&'+;7'"&'5%&;%,(%'*3'./&B+/&6,2,-++)/(';#8' +;7' .&*7./&' *11)' 1"+%&' +.2' ./&' *))' .9' +2,' ./&+/&6B,2,->'F,')2(+5%-&",+,2,-'*3'4)521(,2,-%,'$*,'+*,,;12$)'52(&*')211'*))'2,#2)*7%,)%,' ./&' *))'-/&*' 2,(232(4%11*'5%8;3+5%(/7,2,-*&' ./&'(%,,*'-&4::'/$*&';#8'*))'*1)%&,*)23*'2,+*)+%&'4)3%#$1*+>'

<:<'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

(-12.$1,)0232)2%.,-)2#.)2.A"#$1&.195.5#2-.2A12#.$A0.

!"#$%&'B..• =)4(2%&' 2' +3%,+$*' +;7' *,(&*+:&9$' 2,;7' (%,' -&4,(1"--*,(%'

34D%,4)521(,2,-%,'+$*'2,)%'3*&*'+)4(2%7%(%1+5%&"))2-*(%'4,(%&'(%' )39'./&+)*'9&%,'./&':%&+;,%&'+;7'8*&'(%1)*-2)' 2' 4)521(,2,-' 2'+3%,+$*'./&'2,3*,(&*&%>''

'F,12-)'=;#2*1+)0&%1+%,+'*117",,*'&9('5%3216*+',;&7*1)' +%))' 2,)%' ./&B+/&6,2,-++)/(' )211' (%,' +;7' +)4(%&*&' :9' -07,*+2*1' ,239' 2,;7' (%,'$;774,*1*'34D%,4)521(,2,-%,@'%.)%&+;7'34D,*' +)4(%&*,(%' 2' &%-%1'5/&' 8*' +2,' ./&+/&6,2,-' -%,;7' +)4(2%+)/(+.;&7%&,*>' =)4(2%7%(%1'5%+)9&'*3'+)4(2%52(&*-';#8'+)4(2%19,>'=)4(2%52(&*-+(%1%,';7.*))*&'#2&$*'%,')&%(6%(%1'*3'(%)');)*1*'+)4(2%7%(1%)'32('+)4(2%&':9'8%1)2(>'h%&+;,%&'+;7' +)4(%&*&' :9' $;774,*1' 34D%,4)521(,2,-' ;#8' +;7' +*$,*&'-&4,(+$;1%B'%11%&'-07,*+2%4)521(,2,-'$*,'.9'%))'8/-&%'52(&*-+5%1;::'%,12-)' W'$*:@' KW'e' +)4(2%+)/(+1*-%,' JKLLLNKWLPQ>' ?%)' 8/-&%' +)4(2%B52(&*-%)';7.*))*&'#2&$*'XU':&;#%,)'*3'(%)');)*1*'+)4(2%7%(1%)>F,12-)'=;#2*1+)0&%1+%,+' *117",,*' &9(' 5/&' %7%11%&)2(' %,' 34D%,' $4,,*' -%+'%$;,;72+$)' 52+)9,(' ;7' 8*,' %11%&' 8;,' (%1)*&' 2' -&4,(1"--*,(%'+3%,+$4,(%&32+,2,-'./&'2,3*,(&*&%';#8'5%8;3%)'2,)%'$*,')211-;(;+%+'-%,;7'(%1)2(+*&5%)%>TX'

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cQ' 8*&' 2' +2,' &*::;&)' .&9,' TUKU'l=)4(2%7%(%1' )211' +)4(%&*,(%' :9' -&4,(+$;1%,239l' $;,+)*)%&*)' *))'7%&'",'8"1.)%,'*3'(%7'+;7')*-2)'19,'./&'+)4(2%&':9'-&4,(+$;1%,239'+%,*&%' 8*7,*&' 7%(' %,' *3-2.)' 8;+' _&;,;.;-(%70,(2-8%)%,>' ?%)'2,,%5"&'*))'(%)'"&'7%&'",')2;'-9,-%&'+9'8/-'&2+$'*))'%,':%&+;,'+;7'19,*&' ./&' +)4(2%&' :9' -&4,(+$;1%,239' .9&' %,' *3-2.)' /3%&1"7,*(' )211'_&;,;.;-(%70,(2-8%)%,'6"7./&)'7%('%,'+)4(%&*,(%'+;7'19,*&'./&'%.)%&-07,*+2*1*'+)4(2%&>'

=;7')2(2-*&%',"7,)+'+$*'52+)9,('%,12-)'M'$*:'K'e'+;#2*1)6",+)1*-%,'JTUUKNMPWQ'4).;&7*+'+9'*))'(%)'+)"&$%&':%&+;,%,+'7/612-8%)%&'*))' 1%3*''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''TX'=G=C='TUUWNP>'

<::'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

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

E9&)' ./&+1*-' )211' )2(+5%-&",+,2,-' +0.)*&' )211' *))' .1%&' +$*' 1"&*' +2-'+3%,+$*' +,*55*&%>' H3' (%,' *,1%(,2,-%,' 8*&' 32' 3*1)' *))' 5%-&",+*'791B-&4::%,'./&'(%))*'./&+1*-')211'(%7'+;7'5/&6*&'1"+*'+.2'2'%))')2(2-)'+$%(%>'?%)'2,,%5"&'*))'(%,'+;7'2,)%'84,,2)':95/&6*'+.2'2,;7'%))'9&';#8'("&./&'32('%))'+%,*&%')211."11%'*,+/$%&';7'*))'.9' 1"+*'+3%,+$*'+;7'*,(&*+:&9$'2,;7'(%,'-&4,(1"--*,(%'34D%,4)521(,2,-%,'2,)%'$;77%&'*))';7.*))*+'*3' +*77*' ./&79,12-*' &%-1%&@' 321$%)' 32' *,+%&' 3*&*' &2712-)>' =;#2*1B+)0&%1+%,+':&*D2+'$;77%&'(;#$'*11)6"7)'*))'.2,,*+'./&'(%,,*'-&4::>'

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

'

<:?'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

?@M@G N10$0,1(CC&,$AH.%0102&$+&.()$'1C1/(.102,10,$/,(.&&

<2)"3-0-'!"• =;#2*1)6",+)%,'5/&'2'%))')2(2-)'+$%(%'2,2)2%&*'+*73%&$*,'%,12-)'

1*-%,' JTUUWNKTKUQ';7' .2,*,+2%11' +*7;&(,2,-' ./&':%&+;,%&' +;7'%.)%&'*3+14)*('+.2'5%(/7+'3*&*'2'5%8;3'*3'+*7;&(,*(%'&%8*5212B)%&2,-+2,+*)+%&' ./&' *))' :9' +2$)' $4,,*' %)*51%&*' +2-' :9' *&5%)+B7*&$,*(%,>''

'?%,' K' 6*,4*&2' TUUM' )&"((%' 1*-%,' JTUUWNKTKUQ' ;7' .2,*,+2%11' +*7B;&(,2,-'*3'&%8*5212)%&2,-+2,+*)+%&'2'$&*.)'JC2,+*7Q>'R*-%,'7/612--/&'./&' C/&+"$&2,-+$*++*,@' H&5%)+./&7%(12,-%,@' $;774,' ;#8' 1*,(+B)2,-' *))' +*73%&$*' .2,*,+2%11)' 2,;7' &%8*5212)%&2,-+;7&9(%)>' R*-%,'$;7')211'./&'*))'./&5"))&*'+2)4*)2;,%,'./&'7",,2+$;&'+;7')211'./16('*3'%,' $;752,*)2;,' *3'7%(2#2,+$*@' :+0$2+$*@' +;#2*1*' ;#8' *&5%)+7*&$B,*(+&%1*)%&*(%':&;51%7'"&'2'5%8;3'*3'&%8*5212)%&2,->'?%++*'2,(232(%&'1/:%&'+);&'&2+$'*))'8*7,*'2'%,'-&9o;,'7%11*,';12$*'*$)/&%&+'*,+3*&+B;7&9(%' ;#8' 5%8/3%&' ("&./&' +*7;&(,*(%' &%8*5212)%&2,-+2,+*)+%&>'I,+*)+%&,*' +$*' +0.)*' )211' *))' (%1)*-*&,*' 4::,9&' %11%&' ./&5"))&*&' +2,'./&79-*'*))'4)./&*'./&3"&3+*&5%)%>'R*-%,'"&'.&232112-'./&'$;774,%&';#8'1*,(+)2,->'

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n&'TUKU'7;)+3*&*(%'(%)'OKU'7216;,%&'$&;,;&>'?%,'.2,*,+2%11*'+*7B;&(,2,-%,'5%(&23+'-%,;7'%))'+*7;&(,2,-+./&54,('("&'+*7)12-*':*&)%&'2,-9&>'I'64,2'TUKU'2,-2#$'KX]'$;774,%&'2',9-;)'+*7;&(,2,-+./&54,(>'H11*'1",'4);7'Y"31%5;&-+'1",'8*(%'72,+)'%))'+*7;&(,2,-+./&54,(>'

[*6;&2)%)%,' *3' C2,+*7B(%1)*-*&,*' "&' $32,,;&>' ?%' .1%+)*' )2118/&'(%,' 0,-&%'7%(%191(%&,' %11%&' "&' 4,-(;7*&>'c"+)*,' %,' )&%(6%(%1' *3'(%1)*-*&,*'8*&'%,'4)521(,2,-'+;7'7;)+3*&*&'8/-+)'-&4,(+$;1%,239>'TU' :&;#%,)' "&' ./((*' 2' %))' *,,*)' 1*,(' ",' =3%&2-%>'[91-&4::%,' +)9&';.)*' 19,-)' .&9,'*&5%)+7*&$,*(%,';#8' "&'5%&;%,(%'*3';..%,)12-' ./&B+/&6,2,-@' 2,)%' +"11*,' ./&+/&6,2,-++)/(>TO' C/&+"$&2,-+$*++*,+' 9)%&B'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''TO'=)*)+$;,);&%)@'TUUONX@'C0&*'9&'7%('C2,+*7>'

<:M'

789&:;<<=<>& #$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6&

&

&

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

&*::;&)%&2,-' TUUX' 32+*&' *))' PP' :&;#%,)' *3' (%1)*-*&,*' 2' 8434(+*$'8*(%'%&+")),2,-'2'.;&7'*3'./&+/&6,2,-++)/(>'

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

I'+0.)%'*))'+)"&$*'7/612-8%)%&,*'./&':%&+;,%&'+;7'%.)%&'*3+14)*('+.2' :9' -&4,(' *3'8"1+;+$"1' 8*&' +39&)' *))' %)*51%&*' +2-' :9' *&5%)+7*&$B,*(%,'5/&'+;#2*1)6",+)%,'2'%))')2(2-)'+$%(%'2,2)2%&*'+*73%&$*,'%,12-)'1*-%,'JTUUWNKTKUQ';7'.2,*,+2%11'+*7;&(,2,->'?%)'"&'(;#$'32$)2-)'*))''8*'2'72,,%)'*))'791-&4::%,'./&'C2,+*7'2,)%'4)-/&+'*3':%&+;,%&'+;7'&%,)' *117",)' "&' 2' 5%8;3' *3' &%8*5212)%&2,-+2,+*)+%&@' 4)*,' *))' (%)' &/&'

'TL'h&;:>'TUUT\UWNKWT>'WU'=)*)+$;,);&%)@'TUUONX@'C0&*'9&'7%('C2,+*7>'WK'=)*)+$;,);&%)@'TUUONX@'C0&*'9&'7%('C2,+*7>'

<:"'

#$%&'()*+,&-*.&$//&(0&/1%,'(2.30,0102&,4$&-502(.$6& 789&:;<<=<>&

&

&

<:G'

+2-';7':%&+;,%&' +;7' 1/:%&' &2+$'*))'72++-0,,*+' *3'%,' +%$);&2+%&*('70,(2-8%)++)&4$)4&';#8'+;7'*3'(%,'*,1%(,2,-%,'5%8/3%&'+*7;&(B,*(%'2,+*)+%&>'G7'.411-;(*'*1)%&,*)23'./&'&%8*5212)%&2,-'.2,,+'*))')211B-9' 2,;7';&(2,*&2%' 3%&$+*78%)%&'5/&'2,(232(%&' 2' ./&+)*'8*,('%&564(*+'(%++*'2,+*)+%&>'

'

! "#$%&'()*+%+#+('+%,'-.+./#%-0,12)34%*44+#+(0),.56,-.+%'-7'+%'),

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

C:#,)$+0&01'*+,)6.$#.3(,&%$&)0;<)/$%61&'&(,#)&3#)%$")(3--$#)+0&*$+.$&*$#&,),.)$&)"'%*/$(#3&*,%)*5')<,#)/-7,7)(?0#"*)1$%)/$,+"2,&%$),.)%$)%$-.'*)3&%#,%$),&*.,#*2)0;<)+0*"&,%*56#<:--,&%$&)1$--,&)*","$&)0;<)+0114&*$+"0#&)*01)&4)#$%,&)(3--$#)($&01)%$&)/$*-4"2,%$) $",/-$#'&(*#$50#1$&7) D$50#1$&) 015,"",#) $&)1'&%#$) %$-) ,.) %$)'&.,&%#,#$) *01) -3*$#) *5'@) 1$&) <,#) '&&$/4#'") *"0#,) 56#3&%#'&(,#) '),&*.,#)0;<)+0*"&,%*56#%$-&'&()1$--,&)*","$&)0;<)+0114&*$+"0#&)56#)%$&&,)1:-(#4997)E","$&)",#)$"")/$">%-'(")*"6##$)+0*"&,%*,&*.,#)56#) &>,&-3&%,) *01) 015,"",*) ,.) $",/-$#'&(*#$50#1$&) 3&) 56#) 6.#'(,)&>,&-3&%,) '&.,&%#,#$7)F$),+"6#$#) *01)"'%'(,#$)<,5") ,&*.,#) 56#)&>,&2-3&%,) '&.,&%#,#$*) '&"#0%4+"'0&) <,#) ($&01) #$50#1$&) 5:"") %$-.'*) &>,)499('5"$#) 0;<) ,&*.,#$") 1$--,&) <4.4%13&&$&) <,#) 3&%#,"*7) G01214&$#&,*),&*.,#)56#)*5')-'(($#)%0;+)5,*"7)

H6#) ,"") +4&&,) (6#,) "'--56#-'"-'(,) +0*"&,%*/$#3+&'&(,#) /$<6.*) /#,)0;<)#$-$.,&")*","'*"'+7)!&%$#)1:&(,):#)<,#)%$").,#'")+3&"),"")*","'*"'+$&)9:)%$"",)01#:%$)3#)1>;+$")/#'*"53--'(@).'-+$")9:)5-$#,)*3"")56#*.:#,")/:%$)+0*"&,%*/$#3+&'&(,#) 0;<) 4".3#%$#'&(,#7) F$**,) *","'*"'*+,) /#'*"$#)<,#) 0;+*:) 56#*.:#,") .:#") ,#/$"$) 1$%) ,"") ,&,->*$#,) %$) $+0&01'*+,)

!"#)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

+0&*$+.$&*$#&,),.)$&)"'%*/$(#3&*&'&(7)H6#),"")5:) -'"$)/3""#$)(#4&%)56#).:#,)+0&*$+.$&*,&,->*$#)<,#)E+0-.$#+$")0;<)E","'*"'*+,);$&"#,-2/>#:&)AEIJB)",('")5#,1)$&)%$-)+019-$""$#,&%$)*","'*"'+):")0**7)

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

@A! B62(C)+%-*'+)30+1)-.D.)/0-01%'/2./0-')/9)-')+.

P,&+$&)1$%) $",/-$#'&(*#$50#1$&@)1,&'5$*"$#,%) ') -,($&)AKLQLRQSTB)01) $",/-$#'&(*'&*,"*$#) 56#) .'**,) &>,&-3&%,) '&.,&%#,#$@) 3#) ,"") %$&)*+,) 9:*+>&%,) &>,&-3&%,*) $",/-$#'&() ') ,#/$"*2) 0;<) *,1<3--*-'.$"7)C,#?$)&>,&-3&%)*+,)4"'5#:&)*'&,) 56#4"*3""&'&(,#) 5:)9#05$**'0&$--") *"6%)56#) ,"") *:) *&,//") *01)16?-'(") -3#,) *'() *.$&*+,@) +011,) ') ,#/$"$) 0;<)+-,#,)*'&)$($&)56#*6#?&'&(7)AU$#)01)$",/-$#'&(*#$50#1$&)')+,97)MB7)

V.$&)01) *","$&) ($&01) #$50#1$&) 5:"") $"") 6+,") ,&*.,#) 56#)1:-2(#499$&) <,#) +0114&$#&,) 50#"5,#,&%$) $&) *"0#) 0;<) .'+"'() #0--) &3#)%$") "7$N7)(3--$#) *5'@) *,1<3--*0#'$&"$#'&() *,1") "'--(:&() "'--) *+0-,@) 56#2*+0-$.$#+*,1<$")0;<) *+0-/,#&*01*0#() 56#)&>,&-3&%,)/,#&)0;<)4&(2%01,#7) H6#) %$**,) '&*,"*$#) 5:#) +0114&$#&,) $&) *;<,/-0&$#*3""&'&()5#:&)*","$&7)

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

F$&)&>,) *","-'(,)$#*3""&'&($&@) $",/-$#'&(*$#*3""&'&($&@) '&56#%$*)%$&)Q)%$;$1/$#)KLQL7)F$&)3#)-'+,)56#),--,)&>,&-3&%,@)0,.*$"")/0*3""2&'&(*0#"@)0;<)/$",-,*)4").'%),+"'.")%$-",(,&%$) ')$",/-$#'&(*'&*,"*$#7)J$*-4")01)$#*3""&'&() 5,"",*) ,.)[#/$"*56#1$%-'&($&7)H6#) ,"") *3+$#2

!"E)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

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

!"#$%&'%#$%()*+()$,-,)"./)&"001#)

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

)Q)H6#0#%&'&()AKLQLRQQKKB)01)*","-'()$#*3""&'&()56#).'**,)4"-3&&'&(,#7)K)W&"$(#,"'0&*2)0;<)?31*"3--%<$"*%$9,#"$1$&"$"@)9#01$10#',)KLQL2LS2QL7)

!"?)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

.'-+,) ,&",(,&%$&) *01)(6#*) ,.)%$**,) 5,+"0#$#7)F$) 3#)%3#1$%)0;+*:)56#$&,%$)1$%).'**)0*3+$#<$"7)

=",/-$#'&(*#$50#1$&) <,#) 1$%56#") ,"") +0114&$#&,*) ,&*.,#) 56#)&>,&-3&%,) <,#) 1'&*+,"7) E,1"'%'(") <,#) +0114&$#&,) $&) 50#"*,"").'+"'() #0--) 56#) ,"") 4&%$#-3"",) &>,&-3&%,*) $",/-$#'&(7) C,%) (3--$#) *5')*+,) .,#?$) +0114&) .$#+,) 56#) ,"") &>,&-3&%,) *01) 015,"",*) ,.) %$&)56#$*-,(&,)-,($&)*+,)+4&&,)9:/6#?,)*5') '&01)$&)1:&,%)5#:&)%$"),"")$&),&13-,&)"'--)*5')<,#)+011'")'&)"'--)+0114&$&7)

F$&) 56#3&%#,%$) ,&*.,#*56#%$-&'&($&) 1$--,&) *",") 0;<) +0114&)'&&$/3#) ,"") +0114&$#&,*) +0*"&,%$#) +011$#) ,"") 1'&*+,7) E"6#*",)+0*"&,%*1'&*+&'&($&) (3--$#) +0*"&,%$#) 56#) 56#*6#?&'&(**"6%7) F$")5#,1<:--*) ') $",/-$#'&(*9#090*'"'0&$&) ,"") &3#) %$") &>,) *>*"$1$") 3#)($&0156#")/6#)+0114&$#&,)$&%,*") ')4&%,&",(*5,--)<,)&:(#,)56#*6#?2&'&(*+0*"&,%$#) 56#)9$#*0&$#) *01)015,"",*) ,.) -,($&)01) $",/-$#'&(*2'&*,"*$#7)

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

G0114&$#&,)+011$#),"")<,)+0*"&,%$#)56#)56#*6#?&'&(**"6%)"'--)9$#*0&$#)*01)$5"$#)($&01(:&(&,)$",/-$#'&(*'&*,"*$#) '&"$)<,#)$($&)56#*6#?&'&(7) F$**,) +0*"&,%$#) /$%61*) %0;+) $&-'(") 9#090*'"'0&$&)1'&*+,) $5"$#*01) -,($&) 01) $",/-$#'&(*'&*,"*$#) 56#) .'**,) &>,&-3&%,)'&.,&%#,#$)1$%) /-7,7) 6+,") ,&*.,#) 56#)[#/$"*56#1$%-'&($&) 0;<) '&56#2,&%$"),.)$",/-$#'&(*-0"*,#)56#.3&",*)-$%,)"'--),"")%$)&>,&-3&%,)*&,//,#$)+011$#)'&)9:),#/$"*1,#+&,%$&7)

_$&01),"") $",/-$#'&(*$#*3""&'&($&) *+,)+4&&,) -31&,*) "'--)&>,&2-3&%,)*01)'&01)#,1$&)56#)$&)$",/-$#'&(*9-,&)3.$&)+,&)%$-",)')4"/'-%2&'&() 9:) (#4&%*+0-$2) $--$#) (>1&,*'$&'.:) +011$#) +0*"&,%$#&,) 56#)*"4%'$*"6%),"")1'&*+,)A9#097)KLLS`QLRXLB7)]3#)*:%,&)4"/'-%&'&()'&(:#)*01)$&),+"'.'"$")')$&)$",/-$#'&(*9-,&)<,#)%$-",(,#$&)#3"")"'--)$",/-$#2'&(*$#*3""&'&()')*"3--$")56#),"")/$<6.,),&*6+,)01)*"4%'$1$%$-7)

[--,)&>,&-3&%,)015,"",*)$1$--$#"'%)'&"$),.)$",/-$#'&(*#$50#1$&7)a4#)1:&(,) *01) '&"$)015,"",*) ,.) #$50#1$&).,#'$#,#)6.$#) :#$&7)[.)

)Z)W&"$(#,"'0&*2)0;<)?31*"3--%<$"*%$9,#"$1$&"$"@)5,+",/-,%)0+"0/$#)KLQL7)

!F=)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

*,1"-'(,) 4"01&0#%'*+,) '&.,&%#,#$@) QX):#) 0;<) 3-%#$@) *01) 50-+2/0+56#%$*)4&%$#)KLLS)499*+,"",#).'),"")%#>(")KK)9#0;$&")/$*"0%),.)9$#*0&$#) *01) *+4--$) <,) 015,"","*) ,.) $",/-$#'&(*#$50#1$&) 01) %$&)%:)<,%$).,#'")')+#,5"7)

H6#)%$)&>,&-3&%,)*01)'&"$)'&(:#)')1:-(#499$&)56#)-,($&)01)$",/-$#2'&(*'&*,"*$#) 5'&,&*'$#,*) *5') 0;<) 56#*6#?&'&() ($&01) +0114&$#&,*)*+,""$'&"3+"$#) 0;<) ($&$#$--,) *","*/'%#,(7) ="") *+,""$4"?31&'&(*2*>*"$1)5'&&*) 56#),"")4"?31&,)*+'--&,%$#) ') *+,""$+#,5")0;<) *"#4+"4#2$--,)*+'--&,%$#)56#)+0114&$#&,7)

!"#$%&'%#$%()*+()2#32'23%#)

_$&01) %$&) &>,) -,($&) 01) $",/-$#'&(*'&*,"*$#) 56#) .'**,) &>,&-3&%,)'&.,&%#,#$)<,#)$"")6+,"),&*.,#)-,("*)9:)'&%'.'%$&)*?3-.),"")1$%)*"6%),.) $&) $",/-$#'&(*-0"*)9-,&$#,) 56#) *'&) 5#,1"'%) ') E.$#'($)0;<) ,"") .,#,),+"'.) 56#) ,"") $",/-$#,) *'() ') ,#/$"*-'.$") 0;<) ,"") 56#*6#?,) *'() *?3-.7) W)$",/-$#'&(*9#090*'"'0&$&) 5#,1<:--*) ,"") '&56#,&%$) ,.) -0"*,#) 0;<) $"")">%-'(") ,&*.,#) 56#)[#/$"*56#1$%-'&($&) *+,)6+,)+.,-'"$"$&)9:) $",/-$#2'&(*'&*,"*$#&,) 0;<) *"3#+,) %$&) &>,&-3&%$*) 16?-'(<$"$#) "'--) *&,//)$",/-$#'&()9:),#/$"*1,#+&,%$&7)

F$&) &>,) $",/-$#'&(*$#*3""&'&($&) <,#) 4"50#1,"*) *:) ,"") %$&) *+,)*"'14-$#,)&>,&-3&%,),"")%$-",) ')0-'+,),+"'.'"$"$#7)F$") '&&$/3#)0;+*:),"")%$")3#)%$&)&>,&-3&%$)*?3-.)*01)1:*"$)",)+0&*$+.$&*$#&,),.),"")'&"$).,#,),+"'.7)_$&01),"")$",/-$#'&(*$#*3""&'&($&)'&"$)9:.$#+,*),.)*'%0'&+01*"$#)5#:&),#/$"$@)499)"'--)$"").'**")/$-099@)-6&,#)%$")*'()56#)%$&)&>,&-3&%$),""),#/$",).'%)*'%,&),.),+"'.'"$"$#)9:)<$-"'%7)

=&)'&%'.'%4$--)$",/-$#'&(*$#*3""&'&()*01)'&"$)9:.$#+,*),.)'&+01*"2$#&,) 5#:&) ,&%#,) 9$#*0&$#) ') <4*<:--$") *+,9,#) $&-'(") $",/-$#'&(*29#090*'"'0&$&)*",#+,#$)$+0&01'*+,) '&;'",1$&")56#)/:%,)1,+,#&,) ,"")%$-",)')*5')0;<),&%#,),#/$"*56#/$#$%,&%$),+"'.'"$"$#7)

H-$#",-$") '&.,&%#,#$) 015,"",*) %0;+) '&"$) ,.) $",/-$#'&(*$#*3""2&'&($&7)C'):"$#+011$#)"'--)%$"",)')%$")56-?,&%$7)

!F!)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

@A" $%&'()*+,-'-%-*)-.078.34+,-&+2&.)36)+3+G*2-.D.)/0-01%'/2./0-')/9)-')+.

4%3+0#2#56)• =&)"'%*/$(#3&*,%)4"/'-%&'&()')*.$&*+,)56#)'&.,&%#,#$)-$%$#)"'--)

.'**) 6+,%) $5"$#5#:(,&) 9:) *.$&*+,) *01) ,&%#,*9#:+) '&01) %$&)6.#'(,).4N$&4"/'-%&'&($&7)a4#)*"0#)%$&)/-'#)3#)*.:#"),"")4992*+,"",7)

• U$%) .:#") 56#*-,() "'--) 3&%#'&() ,.) /$*"311$-*$#&,) 01) *"4%'$2*"6%)+011$#)$&)6+,%)$5"$#5#:(,&)9:)*.$&*+,)*01),&%#,*9#:+)'&"$),"")#4//,)+0*"&,%*/,-,&*$&)1$--,&)*",")0;<)+0114&7)

)W)*"0#")*$"")*,1"-'(,)'&.,&%#,#$)<,#)#3""),"")-3*,)*5'@)0,.*$"")(#4&%$#&,)56#)499$<:--*"'--*":&%7)!"6.$#),&*.,#$")56#)*5')<,#)+0114&$#&,)0;+*:),&*.,#$") 56#) ,"") $#/?4%,) ,--,) 9$#*0&$#) *01) *,+&,#) +4&*+,9$#) 10"2*.,#,&%$)(#4&%*+0-,&)$&)(#4&%-3((,&%$).4N$&4"/'-%&'&(7)=""),.)%$)31&$&)*01)'&(:#) ')%$&)(#4&%-3((,&%$).4N$&4"/'-%&'&($&)3#)*.$&*+,)*01),&%#,*9#:+7)

G0114&$#&,*) +0*"&,%$#) 56#) *5') 499(';+) :#)KLLS) "'--) Q)TLX)LLL)1'-?0&$#) +#0&0#) A9#097)KLQL`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

)))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))Y)F.*7),&",-$")%$-",(,#$)01#3+&,")"'--)<$-"'%**"4%$#,&%$7)

!F")

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

+0*"&,%) 56#) $&/,#") *.$&*+,) *01) ,&%#,*9#:+@) 1$&) 4"'5#:&) %$") .')+4&&,") ",) %$-) ,.) 5'&&*) '&($") *01) ",-,#) 56#) ,"") *.$&*+,) *01) ,&%#,2*9#:+) *+4--$) .,#,) %>#,#$) 3&) ,&%#,) +4#*$#) '&01) (#4&%-3((,&%$).4N$&4"/'-%&'&()

@A"A! H4+,-&+%-*2+.%.)36)+3+G*2-.

C')<,#)9#6.,")0;<),&,->*$#,")01)$5"$#5#:(,&)9:)*.$&*+,)*01),&%#,2*9#:+) '&01)(#4&%-3((,&%$).4N$&4"/'-%&'&()+011$#),"") 56#3&%#,*)*01)$&)$55$+"),.)$&)"'%*/$(#3&*,%)4"/'-%&'&()')*.$&*+,)56#)'&.,&%#2,#$7)81) %$") /-'#) *:@) <4#) +011$#) %$) *"4%$#,&%$) %:) ,"") 5'&,&*'$#,)*'&,) *"4%'$#b)a4#) +,&) %$") ') *'&) "4#) 9:.$#+,) +0*"&,%*56#%$-&'&($&)1$--,&)*",")0;<)+0114&b)

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

81)1,&)*$#)"'--)%$&)(#499)*5'2*"4%$#,&%$)*01).')*:-$%$*)*3#*+'-")(#,&*+,")5#,1(:#),"")$5"$#)".:):#*)*"4%'$#)<,#)X)TYO)9$#*0&$#),.*-4",")9:)&'.:)ZI)0;<)&'.:)ZF@)&3#)%$**,)&'.:$#)*411$#,*7)F$")3#)YL@X)9#02;$&"),.)<$-,)(#499$&7)F:)&'.:)KI)<,#)*,11,)+4#*1:-)*01)&'.:)ZI)3#)%$"),.)'&"#$**$),"")0;+*:)"'"",)9:)<4#)1:&(,)*01),.*-4",%$)9:)%$&&,)&'.:) $5"$#) ".:):#7) F$") .,#) Q)LZY)9$#*0&$#) *01) *-4",%$7) E411$#,#)1,&)KI@)ZI)0;<)ZF)/-'#)%$")T)TOK@)%.*7)YX@O)9#0;$&"),.)%$&)*"4%2$#,%$)(#499$&7)

F$") /6#) 49913#+*,11,*) ,"") %$) *"4%$#,&%$) ') *","'*"'+$&) <,#)/6#?,") *'&,) *"4%'$#) 9:) 0-'+,) &'.:$#@) /$#0$&%$) 9:) 56#+4&*+,9$#7)F$)*01)$5"$#)".:):#)3#)#$%0.'*,%$)1$%),.*-4",%$)+4#*$#)9:)KI@)ZI)0;<)ZF2&'.:) 3#) "#0-'(".'*) "'%'(,#$) .3-4"/'-%,%$)9$#*0&$#) *01)3#) *"4%'$210"'.$#,%$7) H-$#",-$") ,.) %$**,) *+4--$) *,&&0-'+"@) 0,.*$"") $&) "'%*2/$(#3&*&'&(),.)*5'@) "'--) *"0#)%$-)<,) 50#"*,"")*'&,)*"4%'$#) '&01)+01214&,-) .4N$&4"/'-%&'&() 1$%) /-7,7) *.$&*+,) *01) ,&%#,*9#:+7) U$&)

!FF)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

#'1-'($&) *+4--$) '&"$) ,--,) <,) (?0#") %$"7) =&) %$-) *6+$#) ,#/$"$) ($&01)[#/$"*56#1$%-'&($&) $--$#) 50#"*3""$#) ') ,&%#,) ,+"'.'"$"$#) 0,.*$"") 01)*5')3#)"'%*/$(#3&*,")$--$#)'&"$7)

C')<,#)4"'5#:&)E+0-.$#+$"*) #$%0.'*&'&() ?3156#")<4#)1:&(,) *01),.*-4",")+4#*$#)9:)I)0;<)F2&'.:) $5"$#) ".:):#@)1$%)%$1) *01)#$%02.'*,")*:%,&,),.*-4")$5"$#)"#$)#$*97)5>#,):#7)=5"$#)"#$):#)#$%0.'*,*)O)XQY)9$#*0&$#),.*-4")9:)%$**,)&'.:$#) AMK)9#0;$&"),.)(#499$&B)0;<)$5"$#)5>#,):#)S)QLZ)9$#*0&$#)AMM)9#0;$&"B7)F$)*01),.*-4",#)9:)I2)$--$#)F2&'.:) $5"$#) "#$) #$*9$+"'.$) 5>#,):#) +,&) .,#,) 9$#*0&$#) *01) /$<6.$#)-3&(#$)"'%)56#),"")&:)+4&*+,9*1:-$&)1$&)0;+*:)9$#*0&$#)*01)(?0#"),./#0""),.)5,1'-?$*+3-)0;<),#/$"$)1717)815,""&'&($&)5#,1(:#)'&"$),.) %$&&,) 4&%$#*6+&'&(7) =&) %$-) ,.) %$1) *01) '&(:#) ') %$&&,) (#499)+011$#) 56#10%-'($&) ,"") $5"$#5#:(,) *.$&*+,) *01) ,&%#,*9#:+) $5"$#),.*-4",%)4"/'-%&'&()')*.$&*+,)56#)'&.,&%#,#$7)E,11,)*,+)(3--$#)%$1)*01) $5"$#) ".:) :#) '&"$) ,.*-4",") &:(0&) +4#*) 9:) <6(#$) &'.:) 3&) *",#"2+4#*$&)0;<)%$1)*01)$&/,#")&:"")Q)[)0;<)Q)J)#$*97)K)J7)

F$") 3#)0*3+$#")<4#) *"0#)$5"$#5#:(,&)9:) *.$&*+,) *01),&%#,*9#:+)$--$#) ,&&,&) 4"/'-%&'&() *+4--$) +4&&,) /-') *01) $&) %'#$+") $55$+") ,.)"'%*/$(#3&*&'&($&7) U:&(,) .'--) +,&*+$@) *01) ') %,() <'"",) $"") ,#/$"$)0;<) 56#*6#?,) *'() 0;<) 4".$;+-,) *'&,) *9#:+53#%'(<$"$#) ') *.$&*+,) 9:),&%#,) *3"") 0;<) *$&,#$) ') -'.$"7) F#'.+#,5"$&) ,"") 56#*6#?,) *'() ($&01),#/$"$) .$") .') 3#) *"0#7)[.)%$&) *"4%'$) *01)EIJ)#$%0.'*,") "'--) 4"#$%2&'&($&) 01) %$) *5'2*"4%$#,&%$*) '&+01*"$#) 0;<) 56#*6#?&'&() 4&%$#)*"4%'$"'%$&) 5#,1(:#)/-,&%) ,&&,") ,"")YX)9#0;$&") ,.)%$) *"4%$#,&%$)<,%$)&:(0&) ,#/$"*'&+01*") 4&%$#) :#) KLLO@) 1$%) $"") 1$%$-.3#%$) 9:) ZO)YKX)+#0&0#7) F$") '&&$/3#) ,"") 1:&(,) <,#) $--$#) <,#) <,5") +0&",+") 1$%),#/$"*-'.$"@) ?31*'%$*)1$%)*5')0;<)<,#)$--$#)<,#)<,5")$&)50") ') ,#/$"*2-'.$"7)H,+"0#$#)*01)9:.$#+,#)*"0#-$+$&)9:)$5"$#5#:(,&)3#)0;+*:),&%#,)'&*,"*$#)*01)"7$N7)4"/4%$"),.),#/$"*1,#+&,%*'&#'+",%$):"(3#%$#)0;<)#$<,/'-'"$#'&(*'&*,"*$#7) W) %$"",) *,11,&<,&() /6#) &31&,*) ,"") $&-'(")$&)4".3#%$#'&(),.)*5')*01)E","*+0&"0#$")(?0#"M)*"4%$#,%$)MX)9#0;$&"),.)%$)*5'2%$-",(,#$)*01)(0%+3&%$*)4&%$#)-3*:#$")KLLY`LM)9:)(#4&%2-3((,&%$).4N$&4"/'-%&'&(@),&"'&($&)56#$@)*,1"'%'(")$--$#)$5"$#),.*-4",%)*5'7) [.) %$**,) 9:/6#?,%$) MO) 9#0;$&") (#4&%-3((,&%$) .4N$&4"/'-%&'&()$5"$#),.*-4",%)*5'7)a4#)1:&(,),.)%$**,)*01)9:/6#?,%$)*.$&*+,)*01),&%#,*9#:+)5#,1(:#)'&"$7)

E,11,&5,""&'&(*.'*) +,&) .') +0&*","$#,) ,"") $55$+"$&) ,.) $&) "'%*2/$(#3&*&'&(),.)4"/'-%&'&()')*.$&*+,)56#)'&.,&%#,#$)/0#%$)-$%,)"'--)$&).'**)6+,%)$5"$#5#:(,&)9:) *.$&*+,) *01),&%#,*9#:+) '&01)%$&)6.#'(,)

)M)E5')c)#$*4-","@)($&0156#,&%$)0;<)-3#,#+019$"$&*7)=&)4".3#%$#'&(),.)*.$&*+,)56#)'&.,&%#,#$7)D,990#")KLLSRK7)

!F@)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

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

@A"A" H%-2-'%)+%-*.29.'65&%)+-2.

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

=&-'(")$&)#,990#")5#:&)I$&"#,-,)*"4%'$*"6%*&31&%$&)AIE]BT)*"4%2$#,%$)%#>(")KY)LLL)9$#*0&$#)1$%)*"4%'$1$%$-)9:)(#4&%*+0-$&'.:) -3*2:#$")KLLO`LS7)[.)*,1"-'(,)*01)*"4%$#,%$)9:)(#4&%*+0-$&'.:)'&01)%$&)+0114&,-,).4N$&4"/'-%&'&($&).,#)OO)9#0;$&")4"-,&%*56%%,)%$"",)-3*2

)X)E8EHE)KLLZRM7)T)E"4%'$1$%$-)"'--)*"4%$#,&%$)9:)(#4&%*+0-$&'.:@)IE]@)&0.$1/$#))KLQL7)

!FI)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

:#7) F$) 1$*") 56#$+011,&%$) +4#*$#&,) .,#) *.$&*+,) *01) ,&%#,*9#:+@)$&($-*+,)0;<)0#'$&"$#'&(*+4#*$#7)

=&) +,#"-3((&'&() *01) E"4%'$*0;',-,) +011'""d&) #$%0.'*,") ') *'"")/$"3&+,&%$O).'*,#),""),&%$-$&)*"4%$#,&%$)1$%)$+0&01'*+")/'*":&%@)*3#*+'-")9:)(#4&%-3((,&%$).4N$&4"/'-%&'&(@).,#'$#,#)1$--,&)+0114&2$#&,7)G011'""d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

E"4%'$*0;',-,)+011'""d&),&*$#),"")%$")3#)9#0/-$1,"'*+"),"") 56#24"*3""&'&(,#&,)56#)5'&,&*'$#'&(),.)*"4%'$#&,)*+'-?$#)*'()1$--,&)0-'+,)+0114&$#7)G011'""d&) 5#,1<:--$#)%0;+),"") $&)$55$+") ,.)$&)<6(#$)/'%#,(*,&%$-) 56#) *"4%$#,&%$)9:)(#4&%-3((,&%$)0;<)(>1&,*',-) .4N$&24"/'-%&'&() /-'#) ,"") /$<0.$") ,.) 56#*6#?&'&(**"6%) 1'&*+,#) 0;<) ,"") %$)$+0&01'*+,)56#4"*3""&'&(,#&,)56#)*"4%$#,&%$)%3#56#)/-'#)1$#)-'+,)')+0114&$#&,7)

W)*'&)#,990#")E"4%'$1$%$-)"'--)*"4%$#,&%$)9:)(#4&%*+0-$&'.:)+0121$&"$#,#)IE])5#:(,&7)IE])1$&,#),"")%$&)&>,)$",/-$#'&(*$#*3""&'&($&)3#)$"")*"$()')%$&)#'+"&'&()*01)E"4%'$*0;',-,)+011'""d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

W) $",/-$#'&(*9#090*'"'0&$&) 5#,1<:--*) ,"") ($&01),"") $",/-$#'&(*2$#*3""&'&($&)*+,)+4&&,)-31&,*)"'--)&>,&-3&%,)*01)'&01)#,1$&)56#)$&) $",/-$#'&(*9-,&) %$-",#) ') 4"/'-%&'&() 9:) (#4&%*+0-$2) $--$#) (>1&2,*'$&'.:)+011$#)+0*"&,%$#&,)56#)*"4%'$*"6%),"")1'&*+,7)]3#)*:%,&)

)O)E"3#+")*"6%)56#)*"4%'$#)c)"#>(("@)$&+$-")0;<)5-$N'/$-"@)E8!)KLLSRKO7)

!FJ)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

4"/'-%&'&()'&(:#)*01)$&),+"'.'"$")')$&)$",/-$#'&(*9-,&)<,#)%$&)&>,&2-3&%$) #3"") "'--) $",/-$#'&(*$#*3""&'&() ') *"3--$") 56#) ,"") /$<6.,) ,&*6+,)01)*"4%'$1$%$-7)

@A"AF :C56'26')+.

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

H6#) ,"") *+,9,) $&<$"-'(<$") <,#) .') ') +,97) Z) 56#$*-,('") ,"") *"4%'$2*"6%*#$(-$#&,)3&%#,*)*:),"")*"4%'$#) ')*.$&*+,)*01),&%#,*9#:+) '&01)%$&)(#4&%-3((,&%$).4N$&4"/'-%&'&($&@)4&%$#)%$)56#*",) ".:):#$&@) '&"$)*+,) .,#,) *"4%'$1$%$-*/$#3""'(,%$) 56#) 9$#*0&$#) *01) <,#) %$-",('") ')4"/'-%&'&()')*.$&*+,)56#)'&.,&%#,#$7)a3#'($&01)#4//,*)'&"$)+0*"&,%*2/,-,&*$&)1$--,&)*","$&)0;<)+0114&*$+"0#&)&3#)%$")(3--$#) '&%'.'%$#*)56#*6#?&'&(77)

C') <,#) 6.$#.3(") 01) %$&) 56#$*-,(&,) 3&%#'&($&) ,.) *"4%'$*"6%*2/$*"311$-*$#&,) 9:) &:(0") *3"") *+4--$) +4&&,) 6+,) *","$&*) +0*"&,%$#)56#)*"4%'$*"6%7)F$")*+4--$)+4&&,)*+$)01)$&)9$#*0&).'--)-3*,)*.$&*+,)$5"$#)%$"),"")"'%$&)56#),""),&13-,)*'()"'--)*5')(:"")4"@)0;<)%:).3-?$#),"")-3*,)*.$&*+,)*01),&%#,*9#:+)'&01)(#4&%-3((,&%$).4N$&4"/'-%&'&(7)F$&) 9$#*0&$&) *+4--$) %:) '&"$) 015,"",*) ,.) 4&%,&",($") 4",&) +4&&,)*6+,)*"4%'$1$%$-@).'-+$")*+4--$)+4&&,)-$%,)"'--).'**,)6+,%$)+0*"&,%$#)56#)*","$&7)

F$"",)*+4--$@)$&-'(").:#)4995,""&'&(@)/-')$"")4"/'-%&'&(*,-"$#&,"'.)56#)#$-,"'.") 5:)9$#*0&$#7)D$%,&) ')%,(),&13-$#)*'()1$--,&)OL)0;<)OM)9#0;$&") "'--) *5') '&01)$"") :#)$5"$#) 56#*",) 50-+/0+56#'&(*%,"417)U$%)

!F#)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

.:#") 56#*-,() "'--) "'%*/$(#3&*&'&() 0;<) 56#*"3#+",) '&;'",1$&") 56#) ,"")/6#?,)*"4%$#,)/6#)%$")/-')3&&4)5-$#)*01)/6#?,#)'&01)$""):#7)F$")5'&&*)%$**4"01)$""),&",-)9$#*0&$#)/-,&%)%$1)*01)'&"$)/6#?,#)-3*,)*5')*01)4".$;+-,#)*'&,)*9#:+53#%'(<$"$#)9:),&%#,)*3""7))

C')+,&)'&"$)*$),"")56#*-,($")5:#)"'--)56-?%),"")5-$#)/6#?,#)-3*,)*.$&*+,)*01),&%#,*9#:+)'&01)%$&)(#4&%-3((,&%$).4N$&4"/'-%&'&($&@)*01)$""),-"$#&,"'.)"'--)*5'7)F$")3#)<4.4%1,&&$&)*01)/$*"311$#).'-+$&)">9),.)4&%$#.'*&'&()*01)/6#)$#/?4%,*7)F$")5'&&*)'&($&),&-$%&'&(),"")"#0),"")&>,&-3&%,) '&.,&%#,#$) *01) *,+&,#) (#4&%-3((,&%$) +4&*+,9$#) *+4--$)$#/?4%,*),&&,&)4"/'-%&'&()3&)4"/'-%&'&() ')*.$&*+,)56#) '&.,&%#,#$@) *:)-3&($)*01)1,&)<,#)#3"")"'--)*:%,&)4"/'-%&'&(7)

E,11,&5,""&'&(*.'*) +,&) .') '&"$) *$) ,"") %$") 1$%) $&) "'%*2/$(#3&*&'&()/-'#) 56#3&%#,%$)*","-'(,)+0*"&,%$#) 56#)*"4%'$*"6%7)81)*5'2/0&4*$&) (6#*) 01) *:) ,"") %$&) /-'#) /3""#$) ,&9,**,%) "'--) %$&) 56#$2*-,(&,)"'%*/$(#3&*&'&($&@)*01).').,#'") '&&$)9:)"'%'(,#$@)+,&)'&;'",21$&"$&) %$**4"01) /-') 3&&4) *"6##$) 56#) &>,&-3&%,) '&.,&%#,#$) ,"")*&,//")",)%$-),.)4"/'-%&'&($&)')*.$&*+,)56#)'&.,&%#,#$7)

@AF B/0-01%'/2./0-')/9)-')+.34+.'626K./0115-.078.%-&%9%&.

4%3+0#2#56)• =&)"'%*/$(#3&*,%)4"/'-%&'&() ') *.$&*+,) 56#) '&.,&%#,#$)/6#)9:)

*'+")-$%,)"'--)1'&%#$)/'%#,(*/$#0$&%$)0;<)6+,%)(#,%),.)$($&256#*6#?&'&()1$%)1'&*+,%$)+0*"&,%$#)56#)/:%$)*",")0;<)+01214&)*01)56-?%7)

• =&)"'%*/$(#3&*&'&()56#*"3#+$#)%$)90*'"'.,)$+0&01'*+,)$55$+"2$#&,),.),&%#,)$",/-$#'&(*'&*,"*$#7)

• U$%)56#*-,($")01)3&%#,%$)#$(-$#)56#)*"4%'$*"6%$")#4//,*)'&"$)+0*"&,%*/,-,&*$&)1$--,&)*",")0;<)+0114&7)

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

!FE)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))))

F3#1$%)/6#)5-$#)'&.,&%#,#$@)9:)+0#",#$)"'%)3&)')%,(@)+4&&,)+011,)'),#/$"$) $--$#) "'%'(,#$) +4&&,) 6.$#(:) "'--) ,&%#,) 4"/'-%&'&(,#7)E,11,&",($")/6#)%$"",)9:)*'+")-$%,)"'--)$"")1'&%#$)/'%#,(*/$#0$&%$)0;<)$&)6+,%)(#,%),.)$($&56#*6#?&'&()1$%)1'&*+,%$)+0*"&,%$#)56#)/:%$)+0114&*$+"0#&)0;<)*","$&)*01)56-?%7)

e.$#(:&($&)"'--)%$")0#%'&,#'$)4"/'-%&'&(**>*"$1$")1:*"$)54&($#,)9:) $"") *1'%'(") *3"") $5"$#) ,.*-4",%) *5') *:) ,"") .'&*"$#&,) 1$%) "'%*2/$(#3&*&'&($&) '&"$)3"*)499),.)/#'*"$#).'%)6.$#(:&($&)1$--,&)*+0-250#1$#&,)$--$#),"")1,&)",99,#)')($&01*"#61&'&(*<,*"'(<$"7)

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

C:#,) 56#*-,() *>5",#) "'--) +.,-'","'.,) 56#/3""#'&(,#) '&01) 4"/'-%2&'&($&) ') *.$&*+,) 56#) '&.,&%#,#$7)J-,&%) ,&&,") -3(($#) .') 56#*-,() 01)56#/3""#,%) *,1.$#+,&) 1$--,&) +0114&$#) 0;<) 16?-'(<$"$#) ,"")$#/?4%,)$&)1$#)%'55$#$&"'$#,%)4&%$#.'*&'&(7)C')#$%0.'*,#)0;+*:)56#2

)S)H6#0#%&'&()KLLTRQLZL7)

!F?)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

*-,()*01)9:)0-'+,)*3"") -$%$#)"'--)$&)1$#)'&%'.'%4,-'*$#,%)4"/'-%&'&(@)"7$N7)($&01)5-$N'/$-")0;<)10/'-")-3#,&%$7)F$**,)56#3&%#'&(,#)/'%#,#)#'1-'($&)*,11,&",($")"'--)$55$+"'.'"$"*.'&*"$#7)

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

=&) "'%*/$(#3&*,%) *5') 3#) ') *'() $&) $",/-$#'&(*'&*,"*@) 1$&) "'%*/$2(#3&*&'&($&)/6#)%$**4"01)/'%#,)"'--),"")>""$#-'(,#$)56#*"3#+,)$55$+"2$#&,),.),&%#,)$",/-$#'&(*'&*,"*$#7)H6#)%$)'&.,&%#,#$)*01)'&"$)'&(:#)')1:-(#499$&)56#)-,($&)01)$",/-$#'&(*$#*3""&'&()<,#)+0114&$#&,)+.,#)*,11,),&*.,#)*01)"'%'(,#$7)=&)"'%*/$(#3&*,%)*5')0;<)$&)$55$+"'.'*$#,%)4"/'-%&'&()/6#)0;+*:) 56#)%$**,) '&.,&%#,#$) *"'14-$#,) "'--) $&) *&,//,#$)'&"$(#,"'0&) 0;<) $"") "'%'(,#$) '&"#3%$) 9:) ,#/$"*1,#+&,%$&7) P'%*/$2(#3&*&'&($&)/6#)0;+*:)+4&&,)-$%,)"'--),"")%$)*01)9#'13#")-3*")*5')56#),"") 5:) *'&) 56#*6#?&'&() +011$#) ,"") '%$&"'5'$#,*) ') $"") "'%'(,#$) *+$%$)0;<).'%)/$<0.)$#/?4%,*),&%#,)'&"$(#,"'0&*'&#'+",%$)'&*,"*$#7)

W) .:#,) %'#$+"'.) &31&*)0;+*:) $#*3""&'&() $&-'(") /$*"311$-*$#&,) ')-,($&)AQSSTRKZOB)01),#/$"*-6*<$"*56#*3+#'&(7)!"#$%&'&($&*)56#*-,()01) "'%*/$(#3&*,%) 4"/'-%&'&() ') *.$&*+,) 56#) '&.,&%#,#$) A0;<) 1$%)"'%*(#3&*) 56#) #3"") ,"") 9:/6#?,) 4"/'-%&'&($&B) /6#) #'1-'($&)1$%56#,),"")%$")$&%,*")')>""$#*",)4&%,&",(*5,--)/-'#),+"4$--")1$%)*5'2%$-",(,#$)*01)499/3#),#/$"*-6*<$"*56#*3+#'&(7)a4.4%%$-$&),.)%$)*"4%$#,&%$)<,#)*,&&0-'+")'&"$)<4&&'")5:)$""),#/$"$)%3#)"'--319&'&(),.),#/$"*-6*2<$"*56#*3+#'&() /-'#) ,+"4$--@) '&"$) /-'.'") ,#/$"*-6*,) 0;<) '&"$) ($&01)56#.3#.*,#/$"$)<4&&'"),#/$",)499)$&)$#*3""&'&(*#3""@)'&&,&)%$)56#)*5')56#$*-,(&,) "'%*5#'*"$#&,)<,#) -69") 4"7)=&-'(") EIJR*) 4&%$#*6+&'&() :")4"#$%&'&($&)<,%$)$&%,*")K@Y)9#0;$&"),.)KK)XSY)*5'2%$-",(,#$)$#*3""2&'&()5#:&),2+,**,)4&%$#)KLLO7)

E,11,&5,""&'&(*.'*)<,#).')+011'")5#,1)"'--),"")1$%).:#,)56#*-,()"'--) 3&%#'&(,#) ,.) *"4%'$*"6%*/$*"311$-*$#&,)+011$#)$&) "'%*/$(#3&*2&'&() '&"$) ,"") #4//,)%$&)&4.,#,&%$)56#%$-&'&($&) ,.)+0*"&,%*,&*.,#$")1$--,&)*",")0;<)+0114&)&3#)%$")(3--$#)'&%'.'%$&*)56#*6#?&'&()4&%$#)*"4%'$"'%$&7)H6#)%$&)$&*+'-%$) '&&$/3#).:#")56#*-,()$&)16?-'(<$"),"")3.$&) *"4%$#,) *.$&*+,) *01) ,&%#,*9#:+) 4",&) ,"") /$<6.,) ",) *"4%'$21$%$-)%$)56#*",)".:):#$&7)

!@=)

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

W) 6.#'(") *$#) .') '&"$) <$--$#) ,"") .:#,) 56#*-,() -$%$#) "'--) 56#3&%#,%$)+0*"&,%$#)$--$#)#4//,#)+0*"&,%*/,-,&*$&)1$--,&)*",")0;<)+0114&7)H6#) +0114&$#&,) +,&) %$") /-') .'**,) +0*"&,%*/$*9,#'&(,#) $5"$#*01)+0*"&,%$#&,) 56#) (#4&%-3((,&%$) .4N$&4"/'-%&'&(@) $&-'(") %$) 4992('5"$#).')5:""@)3#)1'&%#$)9$#)4&%$#.'*&'&(*"'11$)3&)%$&)3#)56#)*5'7)

E,11,&",($") /6#) .:#,) 56#*-,() 9:) *'+") -$%,) "'--) ,"") /$<0.$") ,.)*,1<3--$"*)*"6%'&*,"*$#)1'&*+,#@)/:%$)56#)*",")0;<)+0114&@)0;<),"")*+,""$'&"3+"$#&,) 6+,#) ($&01) ,"") 5-$#) 3&) "'%'(,#$) 5:#) $($&) 56#*6#?2&'&(7)

@A@ L9+%*2./0'6-2&)+.

4%3+0#2#5R)• G0114&$#&,*) +0*"&,%$#) 56#) 4"/'-%&'&($&) +011$#) ,"") 6+,)

1,#('&$--") 01) %$") /-'#) $&) 6+,%) $5"$#5#:(,&) 9:) 4"/'-%2&'&(*9-,"*$#7)F$"",)+019$&*$#,*),.)$55$+"'.'"$"*.'&*"$#7)

• C:#,) 56#*-,() "'--) *","-'(,)1>&%'(<$"$#)+,&) 5'&,&*'$#,*) ($&01)/$5'&"-'(,)$+0&01'*+,)#,1,#7)

7+($8-5R)• D$($#'&($&) ,.*3""$#) ".:)1'-?0&$#)+#0&0#)9$#) :#)4&%$#) ".:) :#)

56#)5'&,&*'$#'&(),.)%$&)56#$*-,(&,)%$-$(,"'0&$&*)+,&*-'7)

4%3+0#2#5R)• H'&,&*'$#'&()56#)%$-$(,"'0&$&*)499%#,()/6#)+4&&,)*6+,*)<0*)

50&%$#7)P'--)%$"",)/$<6.*)1$%5'&,&*'$#'&(7)

)F$")5'&&*)'&($")*01)">%$#)9:),"")$&)"'%*/$(#3&*&'&()*+4--$)-$%,)"'--)56#3&%#,%$) +0*"&,%$#) 56#) +0114&$#&,) 56#) 4"/'-%&'&($&*) ($&01256#,&%$7)C:#,)56#*-,()/6#)')*"3--$")+4&&,)*"'14-$#,)"'--)$&)$55$+"'.,#$)0#(,&'*,"'0&)56#)4"/'-%&'&($&*)($&0156#,&%$)0;<)699&,)56#)9#6.2&'&() ,.) <4#) ,%1'&'*"#,"'0&$&) 9:) $"") $55$+"'.") *3"") +,&) *"6%?,) $&)*:%,&)4".$;+-'&(7))

]3#) $&) "'%*/$(#3&*&'&() '&56#*) +,&) .'**) 6+,%) $5"$#5#:(,&) ,.)4"/'-%&'&() ') *.$&*+,) 56#) '&.,&%#,#$) +011,) 5#:&) '&.,&%#,#$) *01)*$%,&)$&)-3&(#$)"'%)/$5'&&$#)*'()')-,&%$"7)F$&)6+,%$)$5"$#5#:(,&)/6#)%0;+)'&"$)/-')*:)*"0#7)D$%,&)')%,()9:/6#?,#)1$--,&)OL)0;<)OM)9#0;$&"),.)'&.,&%#,#&,)*5')'&01)$""):#)$5"$#),"")%$)5:"")499$<:--*"'--*":&%7)=&)%$-) -3#) *'() *.$&*+,) 4",&56#) *5') 0;<) +011$#) ,-%#'() ,"") $5"$#5#:(,)4"/'-%&'&($&7)

!@!)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

G0*"&,%$#&,)56#)$&)$.$&"4$--")"'--53--'()6+,%)$5"$#5#:(,&)/6#)1$#)3&).3-)+4&&,)+019$&*$#,*),.),"")$&)$55$+"'.'*$#'&(),.)4"/'-%&'&($&)9:) *'+") -$%$#) "'--) ,"")%$")/-'#) $"")1'&%#$) ,&",-) $-$.$#) *01)*,1"'%'(")%$-",#) ')4"/'-%&'&() ') *.$&*+,) 56#) '&.,&%#,#$^) *"4%$#,&%$(#499$#&,*)*"0#-$+)1'&*+,#)%:)($&01*"#61&'&($&)6+,#7)F$"",)/6#)9:)*'+")1'&*+,)+0*"&,%$#&,)/:%$)56#)4"/'-%&'&($&)0;<)56#)%$-",(,#&,*)56#*6#?&'&(7)

]3#)%$")(3--$#)1>&%'(<$"$#&,*)+0*"&,%$#)*$#).')'&"$),"").:#,)56#2*-,() -$%$#) "'--) +0*"&,%*56#3&%#'&(,#) ,.)%$") *-,() *01)/6#)+0*"&,%*2/$#3+&,*7) F$") (3--$#) *,1"-'(,) 56#*-,() *01) #$%0.'*,"*) ') +,97) Z7) C')56#$*-:#) /-7,7) ,"") ;$&"#,-,) 1>&%'(<$"$#) ($*) .'**,) 499%#,() 56#) ,"")4".$;+-,)0;<)9#$;'*$#,)56#<:--,&%$&)*01)3#);$&"#,-,)56#),"")$&)"'%*2/$(#3&*&'&() *+,) 54&($#,7)F$") 3#) 499('5"$#) *01)&,"4#-'(") 56-?$#) ,.)&4.,#,&%$)*">#%0+41$&")56#)1>&%'(<$"$#&,)9:)4"/'-%&'&(*01#:%$"7)

!"#$%&'&($&)<,#)56#$*-,('"),"")%$")"'--*3""*)$&)%$-$(,"'0&)56#),"")4".$;+-,)%$")5-$N'/-,)-3#,&%$")1$%)"$+&'+$&*)<?3-9)A+,97)ZB7)F$-$(,2"'0&$&*),#/$"$)56#$*-:*)015,"",)%$-*)56#*6+*.$#+*,1<$")1$%)-0+,-,)9'-0"9#0?$+"@) %$-*) *+,9,&%$) ,.) $&) ($1$&*,1)f$//9-,"*7) H6#) %$-$2(,"'0&$&)499*":#).'**,)+0*"&,%$#7)F$")/$<6.*)$"")1'&%#$)+,&*-')56#),"") 0#(,&'*$#,@) ,%1'&'*"#$#,) 0;<) *,10#%&,) ,#/$"$"7) C') /$%61$#) ,"")/$1,&&'&($&)/6#)015,"",)$&)9#0?$+"-$%,#$)9:)<$-"'%)0;<)$&)'&50#1,2"6#`*$+#$"$#,#$)9:)<,-."'%7)G0*"&,%$#) 56#)%$**,) "?3&*"$#)499*+,"",#).')"'--) Q)QLL)LLL) +#0&0#) AOLL)LLL) +#) #$*97) ZLL)LLL) +#B) 9$#):#7) P'--) %$"",)+011$#) .'**,) ,%1'&'*"#,"'.,) +0*"&,%$#@) ,#.0%$&) 0;<) #$*$+0*"&,%$#)56#)%$-",(,#$)')%$-$(,"'0&$&*),#/$"$)0;<)+0*"&,%$#)56#)4".$;+-'&(),.)f$//9-,"*$&7) F$) :#-'(,) ,%1'&'*"#,"'.,) +0*"&,%$#&,) <,#) .') 4992*+,"",") "'--) SLL)LLL) +#0&0#7)G0*"&,%$#&,) 56#) +,&*-'$") 0;<) "'--+0121,&%$),%1'&'*"#,"'.,)+0*"&,%$#)*+4--$)%3#1$%)499(:)"'--)*,11,&2-,(")K)1'-?0&$#)+#0&0#)9$#):#7)

C')56#$*-:#),"")#$($#'&($&),.*3""$#)$&):#-'()*411,)9:)K)1'-?0&$#)+#0&0#)4&%$#) ".:) :#) *:) ,"")%$&) 56#$*-,(&,)%$-$(,"'0&$&)+,&)4"56#,),#/$"$),.)%$")*-,()*01)/$<6.*)56#),"")4".$;+-,)%$")5-$N'/-,)-3#,&%$")1$%)"$+&'+$&*)<?3-97)

H6#),"")*",#",)%$)56#$*-,(&,)9'-0"9#0?$+"$&)56#)10/'-")-3#,&%$)A*$)+,97)ZB)499*":#)+0*"&,%$#)56#)%$&)4"#4*"&'&()*01)*:.3-)-3#,#$)*01)*"4%$#,&%$)/$<6.$#7)P'--)%$"",)+011$#)+0*"&,%$#)56#)499+099-'&()10")10/'-&3")0;<)'&"$#&$")*,1")56#)4".$;+-'&(),.)&3",+"'.'"$"$#)0;<).'**)9#0(#,1.,#,7)F3#4"6.$#)"'--+011$#)+0*"&,%$#)56#)50#"/'-%&'&(),.)*5'2-3#,#$7)a4.4%%$-$&),.)%$**,)+0*"&,%$#)1$&,#).'),"")%$)+01214&$#)*01)5#'.'--'(")%$-",#)').$#+*,1<$"$&)+011$#),"").,#,)'&"#$*2*$#,%$) ,"") *.,#,) 56#@) %:)%$") (:#) ,"") 56#4"*$)+011,&%$).'&*"$#) 0;<)/$*9,#'&(*16?-'(<$"$#) '&01)4"/'-%&'&($&) ')*.$&*+,)56#) '&.,&%#,#$7)

!@")

:;<."=!!>!?. $%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+.

.

.

C').$")0;+*:),"")%$")9:) 5-$#,)<:--) ') -,&%$") 5'&&*) '&"#$**$),.),"")1$%2.$#+,7))

G0*"&,%$&)56#)499/>((&,%),.)$&)16"$*9-,"*)9:)&3"$")/6#)"'--)6.$#2.3(,&%$) %$-) +4&&,) 5'&,&*'$#,*) ,.) -319-'(,) *,1,#/$"*9,#"&$#7J-,&%),&&,") <,#) G4&(-7) P$+&'*+,) <6(*+0-,&) AGPaB@) *01) #$%,&) <,#) $&)*:%,&)16"$*9-,"*) 499/>((%) 56#) *'&) .$#+*,1<$"@) .'*,") '&"#$**$) 56#)1$%.$#+,&) ') 499/>((&,%$&) ,.) $&) f$//9-,"*) 56#) 4"/'-%&'&($&) ')*.$&*+,)56#)'&.,&%#,#$7)

G0*"&,%$&)56#)9'-0"9#0?$+"@)4".$;+-'&(),.)%'('",-,)-3#.$#+">()0;<)f$//9-,"*)499*+,"",#).')"'--);'#+,)K)1'-?0&$#)+#0&0#7)=&)*"0#)%$-),.)%$)1$%$-) *01) /$<6.*) 56#) %$"",) /6#) +4&&,) *6+,*) <0*) 50&%$#) 0;<),&%#,) '&"#$**$&"$#@) *01) "7$N7) <0*)=EH2#:%$") 0;<)C'&&0.,7) H6#) ,""),&*6+,) 01) *:%,&,) 1$%$-) +#3.*) $1$--$#"'%) 1$%5'&,&*'$#'&(7) C:#)/$%61&'&() 3#) ,"")%$") '&"$)+011$#),"")/-')&:(#,)9#0/-$1),"")<'"",)0#(,&'*,"'0&$#@)+0114&$#)0;<),&%#,),+"6#$#)*01)3#)'&"#$**$#,%$),.),"")/'%#,)"'--)*:%,&)1$%5'&,&*'$#'&(7)

@AI $%&'()*+,-'-%-*)-'.)33)/6)+.1G'6).34CM2'.5NN.

7+($8-56)• D$($#'&($&) 499%#,#) :") -319-'() ,+"6#) ,"") +0&"'&4$#-'(") 56-?,)

0;<) 4".3#%$#,) $55$+"$#&,) ,.) $&) "'%*/$(#3&*,%) 4"/'-%&'&() ')*.$&*+,)56#)'&.,&%#,#$7)

)C'),&*$#),"").:#,)56#*-,()<,#)$&)$55$+"'.'*$#'&(*90"$&"',-)0;<)9:)*'+")/6#) -$%,)"'--)$&)$55$+"'.,#$)4"/'-%&'&()0;<)"'--)/$*9,#'&(,#)56#)*,12<3--$"7)C'-+,) $55$+"$#&,)/-'#@) +0*"&,%*13**'(")0;<)9:) ,&%#,) *3""@) 3#)'&"$)16?-'(") ,"") /$#3+&,) $--$#)499*+,"",7)F$") 3#)%3#56#)&6%.3&%'(")1$%)$&)(0%)49956-?&'&()0;<),"")+0&"'&4$#-'(")56-?,)%$)$55$+"$#)*01)"'%*/$(#3&*&'&($&) +,&) -$%,) "'--7) g:) %$") *3""$") *+,9,*) 4&%$#-,() 56#)$.$&"4$--,) ?4*"$#'&(,#) 0;<) %$") -3((*) $&) (#4&%) 56#) 5#,1"'%,)4".3#%$#'&(,#7)

C'%) $&) *:%,&) 49956-?&'&() 3#) %$") /-,&%) ,&&,") .'+"'(") ,"") 56-?,) ').'-+$&)4"*"#3;+&'&()"'%*/$(#3&*&'&($&)<,#)-$"")"'--)$&)6+,%)($&012*"#61&'&(@) ') .'-+$&) 1:&) *"4%'$#$*4-","$&) <,#) 56#/3""#,"*) 0;<) 01)0;<)<4#)*"4%$#,&%$*"#611,#&,)<,#)9:.$#+,"*7)F$")3#)0;+*:).'+"'("),"") 56-?,) 499) ,&.3&%&'&($&) ,.) *"4%'$1$%$-) 0;<) ,&%#,) 56#*6#?2&'&(*+3--0#)56#),"")+4&&,)*$)$55$+"$#&,)56#)'&%'.'%$#@)*",")0;<)+01214&7)\'+,*:)3#)%$"),&($-3($"),"")56-?,)0;<)*"4%$#,).'-+,)$+0&01'*+,)

!@F)

$%&'()*+,-'-%-*)-'.)/0-01%'/2.34+56',66-%-*2+.078./0-')/9)-')+. :;<."=!!>!?.

.

.

!@@)

+0&*$+.$&*$#) *01) "'%*/$(#3&*&'&($&) 0;<) ,&%#,) $55$+"'.'*$#'&(*256#*-,()<,#)5:"")&3#)%$")(3--$#)/'%#,(*/$#0$&%$)0;<)*&,//,#$),#/$"*21,#+&,%*$",/-$#'&(7)

C')56#$*-:#)%3#56#),"")#$($#'&($&)($#)$&)-319-'(),+"6#)')499%#,(),"")+0&"'&4$#-'(")56-?,).,%)*01)499&:*)1$%)#$50#1$&)0;<).,%)%$&)5:#) 56#)+0&*$+.$&*$#)$+0&01'*+")0;<)9:) ,&%#,) *3""7)P'%'(,#$) *"4%'$#)0;<).:#,)$#5,#$&<$"$#)4&%$#),#/$"$")1$%)4"#$%&'&($&).'*,#)">%-'("),"")%$")5'&&*)$"")*"0#")/$<0.),.)/3""#$)49956-?&'&(,#)#$&"),--13&"7)C'%)$&)"'%*/$(#3&*&'&(),.)*5')/-'#)%$")3&)1$#).'+"'("7)

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

W) %$"",) *,11,&<,&() 3#) %$") 0;+*:) .'+"'(") ,"") 9:9$+,) ,"") 01)$"")*>*"$1)1$%)*7+7)*5'29$&()'&56#*@).'-+$")%'*+4"$#,*@)*:)/6#)%$")0;+*:)#$-,"$#,*)"'--)$&)5#,1"'%,)"'%*/$(#3&*&'&()0;<)+0&*"#4$#,*)*:),"")%$")*+,9,#)$+0&01'*+,)'&;'",1$&")56#)*:.3-)%$-",(,#$)*01),&0#%&,#$7)

! "#$%&'()*+,-*'().&/#%*01&*#&2.3.3*

!"# $%&'$()"*# +,-# "*.(*"&-"/"*# '+0# 1233"*# /211# 3*%&4# .5*# 67*(#.5*'1(3#-(*#2&-80/(/'#)7#.1"*(#+12$(#'8//9#:+0#&80&'#2#;"/8&$(&4"/'#2&1"4(&4"#$()2/"1#-(*#62<#.5*%/+0#4"/#'+0#62#$%&&(/#.7#%/#(6#*"4(&#;".2&/123#4+$%0"&/(/2+&<#3=+*/#'/%42";"'5$#2#:6"*23"<#!(&0(*$#+,-#2#>+*3"9#?5*#(//#.7#@//"*123(*"#$%&'$()"*#+0#-%*#4"/#'"*#%/#2#(&4*(#"%*+)"2'$(# 18&4"*# -(*# 62# +,$'7# 2# "&# "&$8/# /211# :6"*23"'# (0;(''(4"*#2&+0#AB#'/811/#.*73+*#+0#-%*#18&4"*#2&+0#AB#-(&/"*(*#.*73(&#+0#*8//23-"/"*#+,-#'$@1423-"/"*#&8*#4"/#3811"*#(//#"*;=%4(#%&4"*62'&2&3#2# 4"/# "3&(# 1(&4"/'# ')*7$# +,-# +0#4"/# .2&&'# *"31"*# '+0# ;"'/800"*#-%*#18&3"#"&#2&6(&4*(4#)"*'+&#.7*#18'(#4"/#&@(#1(&4"/'#')*7$9##

C2#-(*#+,$'7#'$2,$(/#%/#"&#"&$8/#/211# 18&''/@*"1'"*&(#0"4#.*73+*#+0#-%*#4"#'"*#)7#"&#/24';"3*8&'&2&3#(6#'.29#C24(*"#-(*#62#0"4#-=81)#(6# :/(/'$+&/+*"/<# :/(/2'/2'$(# ,"&/*(1;@*7&<# :$+16"*$"/#+,-#:6"*23"'#D+00%&"*#+,-#E(&4'/2&3<#/(32/#4"1#(6#'/(/2'/2$#+,-#(&&(/#%&4"*1(3#'+0#62#(&'"//#6(*(#&5468&423/#.5*#(//#$%&&(#%/.+*0(#67*(#.5*'1(3#/211#/24';"3*8&'&2&39##

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

B/2.*7&# 4"# $%&'$()"*# '+0# 2&-80/(/'# +0# (&4*(# 18&4"*# )*"'"&F/"*('# '"4(&# "&#;214# (6#A%*+)(#&8*# 4"/# 3811"*# ')*7$$*(6#+,-# *8//23F-"/"*#$+))1(4"# /211# 4"/# "3&(# 1(&4"/'# ')*7$9#G6'&2//"/# (6'1%/('#0"4#

! ! "#$!

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

"&#'%00"*2&3#(6#6(4#:6"*23"#$(&# 18*(#(6#(&4*(# 18&4"*9#:2'/# 2#4"//(#$()2/"1#$+00"*#"//#(6'&2//#'+0#'%00"*(*#05=123-"/"*#+,-#.(*-73+*#.*7&#18&''/@*"1'"*&('#+,-#$+00%&"*&('#)"*')"$/269#

$=" >-)5!-?!@2A!

H*# IJKL# /211$+0# "&# 1(3# '+0# 3(6# %/18&4'$(# &@2&6(&4*(4"# (*;"/'F/(3(*"#*8//#/211# 1"423-"/#+,-#15&#.5*#(//#4"1/(# 2#MNO#/200(*'#'6"&'$F%&4"*62'&2&3# 2# '/%42".5*;%&4"&'# *"329# :6"&'$%&4"*62'&2&3# $%&4"#+,$'7# ;"4*26('# 624# .1@$/2&3.5*1833&2&3(*<# .+1$-53'$+1+*# +,-# 2&+0#$+00%&(1#6%P"&%/;214&2&3#Q$+06%PR9##

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

!"&#I#=%12#IJJN#8&4*(4"'#*"31"*&(#.5*#'.2#'7#(//#*8//"&#/211#'.2#2&/"#18&3*"# 8*# /24';"3*8&'(49#!7# ;"'1%/(4"'# 86"&# (//# $+00%&"*&(# 2&/"#18&3*"#'$%11"#-(#&73+&#'$@1423-"/#(//#"*;=%4(#('@1'5$(&4"#'.29#

"#B#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

$="=" C11?D+5!-?!40@5D??01@0)+&!

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

:.2# 8*# 2# 12$-"/# 0"4# 56*23# 6%P"&%/;214&2&3# "&# $+00%&(1# (&3"F183"&-"/#+,-#"&123/#'$+11(3"&#"&#4"1#(6#4"/#+.."&/123(#'$+168'"&4"/#.5*#6%P&(9#B/;214&2&3"&#'@./(*#/211#(//#3"#6%P&(#2&6(&4*(*"#%/(&#/211F*8,$123(# 18'F# +,-# '$*26.8*423-"/"*# 05=123-"/# (//# .5*68*6(# 4"''(#$%&'$()"*9#G6#1(3"&#.*(037*#(//#$+00%&"*&(#8*#-%6%408&#.5*#'.2#+,-# (//# 4"# '$(# "*;=%4(# %/;214&2&3# /211# 4"# $+00%&2&67&(*"# '+0#'($&(*# 3*%&41833(&4"# $%&'$()"*# 2# '6"&'$(# ')*7$"/9# !"''(# '$(#$%&&(#)7;5*=(#'2&#'.2# 2&+0#/*"#07&(4"*#.*7&#4"/#(//#4"#(&'5$/#+0#(//#.7#)7;5*=(#'.29#!"/#.2&&'#05=123-"/#.5*#"&#$+00%&#(//#%))4*(#7/#(&4*(#(//#(&+*4&(#'.29##

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

:"4(&# MOOM#;"'/7*# %/;214&2&3"&# (6# .@*(#+12$(# 4"1$%*'"*# QG^!R9#]2423(*"#;"'/+4#%/;214&2&3"&#(6#"&#"&4(#$%*'9#Z71"&#.5*#4"&#-53'/(#$%*'"&<#!F$%*'"&<#$(&#'83('#0+/'6(*(#4"&#/2423(*"#'1%/&267&9#\(6F'"//#+0#"&#4"1/(3(*"#;5*=(*#'2&(#'/%42"*#)7#$%*'&267#G#"11"*#"&#-53*"#&267# '7# 8*# '.2# %/.+*0(/#0"4# /(&$"&# (//# (11(# 4"1/(3(*"# '$(# -(#05=F123-"/#(//#'/%4"*(#/9+909#$%*'#!9#!"1$%*'"*&(#8*#2#4(3#2&4"1(4"#2#/*"#'/%42"683(*#QI^LR#'+0#6(*4"*(#;"'/7*#(6#/67#$%*'"*9#?5*#"&#4"1/(3(*"#

"#E#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

2#%/;214&2&3"&#8*#4"/#05=123/#(//#37#624(*"#.*7&#"&#'/%42"683#/211#&8'/(#/211'#0(&#&7*#!F&267&9# :@./"/# 8*# (//# ;8//*"# $%&&(# (&)(''(#071# +,-#'/%42"/($/#/211#4"&#"&'$214"#4"1/(3(*"&'#.5*%/'8//&2&3(*9#

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

C24(*"#.5*/@4123(4"'#4"/#MOOK#2#'$+11(3"&#(//#-%6%408&&"&<#46'9#$+00%&"*&(<#'$(#'(06"*$(#0"4#G*;"/'.5*0"412&3"&#+,-#6"*$(#.5*#(//#2&42624"&#3"'#05=123-"/#(//#56(#4"/#'6"&'$(#')*7$"/#2#(*;"/'126"/#'(0/# $+0;2&"*(# '.2# 0"4# (*;"/'126'+*2"&/"*2&3<# 6(124"*2&3<# )*($/2$#"11"*#(&&(&#%/;214&2&39#

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

?*7&#4"&#I#=(&%(*2#MOII#.2&&'#"&123/#.5*+*4&2&3"&#+0#;"/@3'*8//#.5*# 6%P"&%/;214&2&3# QMOIOWMXLR# 86"&# "&# 05=123-"/# .5*# "&'$214(#%/;214&2&3'(&+*4&(*"# (//# .7# /211'/7&4# (//# '8//(#;"/@3# .5*#%/;214&2&3#'+0# 0+/'6(*(*# $+00%&(1# 6%P"&%/;214&2&3<# 6%P"&%/;214&2&3# .5*#%/6",$12&3''/5*4(# +,-# '.29# A&'$214(# %/;214&2&3'(&+*4&(*"# .7*# 86"&#(&+*4&(# )*56&2&3# '(0/# %/.8*4(# ;"/@3# +,-# 2&/@3# "&123/# ;"'/80F0"1'"*#'+0#3811"*#.5*#4"/#+.."&/123(#'$+168'"&4"/9#:74(&#%/;214&2&3#'$(# '$"# )7# %))4*(3# (6# "&# =%*242'$# )"*'+&# Q%))4*(3'326(*"&R# +,-#(&+*4&('#.5*#%))4*(3'326(*"&'#*8$&2&3#+,-#.5*#4"#)"*'+&"*#'+0#%))F4*(3'326(*"&# %/'"*9# B/;214&2&3# 0+/'6(*(&4"# '.2# .7*# 86"&# (&+*4&('#2&+0#"&#.+1$-53'$+1(9##

"#F#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

A&123/#:$+16"*$"/'#'/(/2'/2$#(&+*4&(4"'#'.2#(6#MXK#$+00%&"*#%&4"*#MOOJ9#[#4"#.1"'/(#.(11#6(*#4"/#$+00%&"*&(#'=816(#'+0#'/+4#.5*#%/;214F&2&3"&9# !"/# ;12*# 4+,$# (11/# 6(&123(*"# (//# &73+&# (&&(&# (&+*4&(*"#3"&+0.5*# %/;214&2&3# 2&+0# '.29#H*# MOOJ# 18'/"# LM# )*+,"&/# (6# $%*'F4"1/(3(*&(#-+'#(&&(&#(&+*4&(*"#8&#$+00%&"&9#

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

$=9 G5&410)A+(@)02-)?0+!

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

"#<#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

!"&# &@(&18&4"# '$(# '=816# $%&&(# 681=(# 1+/'# 3"&+0# "//# 6(1F.*2-"/''@'/"0#0"4#"/(;1"*2&3'1+/'(*9#E+/'"&#'$(#6(*(#'/54=(&4"#+,-#)74*26(&4"# %&4"*# -"1(# "/(;1"*2&3')"*2+4"&# +,-# /211'(00(&'# 0"4#4"&# &@(&18&4"# 6(*(# 0"4# +,-# %/6",$1(# 4"&# "/(;1"*2&3')1(&# '+0#G*;"/'.5*0"412&3"&# +,-# 4"&# &@(&18&4"# %))*8//(*/9# A*'8//&2&3"&#/211#1+/'(*&(#8*##)*"'/(/2+&'F#+,-#*"'%1/(/;('"*(49##

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

?5*#&@(&18&4(# 2&6(&4*(*"# '+0#+0.(//('# (6#4"''(# '8*'$214(# "/(;1"*F2&3'2&'(/'"*# 3811"*# (//# $+00%&"&# ($/26/# '$(# 6"*$(# .5*# (//# '.2# $(&#)7;5*=('# 2&+0#"&#07&(4#.*7&#4"/#(//#4"&#&@(&18&4"#(&081/#'23#/211#'.2#-+'#$+00%&"&9#:(0-811'2&.+*0(/2+&"&#$(&#3"'# 2#$+0;2&(/2+&#0"4#'.2<#38*&(#)7#4"&#&@(&18&4"'#0+4"*'071<#0"&#'$(#'$"#%/(&.5*#4"#*(0(*#.5*#%&4"*62'&2&3'/24#'+0#3811"*#.5*#'.29##

$=9=" 6&?/D11@-)A0+50)A+(!

>8*#4"/#3811"*#'(0-811'+*2"&/"*2&3"&#-(*#62''(#.5*8&4*2&3(*#2&2/2"*(/'9#[#"//#4"1;"/8&$(&4"# (6#B/*"4&2&3"&#+0#'(0-811'+*2"&/"*2&3# .5*#&@(&F18&4(#2&6(&4*(*"#Q:\B#MOIOWIYR#.5*"'17'#"&#&@#*"31"*2&3#(6#4"&#'(0F-811'+*2"&/"*2&3# '+0# '$(# "*;=%4('# (11(# &@(&18&4(# '+0#+0.(//('# (6#1(3"&#QMOIOWIJKR#+0#"/(;1"*2&3'2&'(/'"*#.5*#62''(#&@(&18&4(#2&6(&4*(*"#Q"/(;1"*2&3'1(3"&R9#?5*'1(3"/# 2&&";8*#2#$+*/-"/#(//#6(*="#&@(&18&4#)"*F

"$:#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

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`($3*%&4"&#/211#4"&&(#%/6243&2&3#621(*#)7#2&/"F3*(/2+&')+12/2$"&'# 3"&"*"11(# 071'8//&2&3# +0# 12$(# *8//23-"/"*<#'$@1423-"/"*# +,-# 05=123-"/"*# .5*# (11(# +(6'"//# "/&2'$# +,-# $%1/%*"11#;($3*%&49#Z713*%))"&#.5*"'17'#%/5$('#0"4#56*23(#6%P&(#&@(&18&4(#2&6(&4*(*"# '+0#-(*#%))"-711'/211'/7&4#)7#02&'/#"//# 7*<#0"4#%&4(&/(3#.5*#38'/'/%4"*(&4"9#!"/#*5*#'23#%))'$(//&2&3'62'#+0#YX#OOO#)"*'+&"*9##

$=H IA1'&!1D@0)!@2AJ!

a"0$+00%&"&# 8*# '$@1423# (//# '"# /211# (//# %/;214&2&3# 2# '6"&'$(# .5*#2&6(&4*(*"#"*;=%4'#4"0#'+0#-(*#*8//#(//#4"1/(#2#%/;214&2&3"&9#A&123/#MM#$()9# IL#b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

"$"#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

##############################################################################################################################################################

2&6(&4*(*"9I#!"''(# 2&'(/'"*#"*;=%4'# 2# "//# /2423/#'$"4"#"./"*#(//#0(&#-(*# (&18&/# /211# :6"*23"9#!"&# &@(# "/(;1"*2&3'*".+*0"&# '+0# /*844"# 2#$*(./#4"&#I#4","0;"*#MOIO#*2$/(*#'23#/211#4"&&(#$(/"3+*2#+,-#'@./(*#/211#(//#%&4"*18//(#+,-#)7'$@&4(#4"''(#&@(&18&4(# 2&6(&4*(*"'#"/(;1"*2&3# 2#(*;"/'F#+,-#'(0-811'126"/9##

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

Diagram 5.1 Samtliga utomnordiska invandrare 16 år och äldre folkbokförda 2009, totalt 60 000 personer

!"##$: !"#$%

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

0)'%1%,22/,,,,,,,,,,,

3+$456%'+7&,82/,,,,,,

359:147*+),;<:9&&<'%=(>?

=@$+741A)+,<:A5B,2-/,,,,,,,,,,,,,,,,,

C%7<4(7A),2/

"1@&4%),22/,,,,,,,,,,,

#G6# '(0/123(# %/+0&+*42'$(# 2&6(&4*(*"# IY# 7*# +,-# 814*"# '+0# .+1$F;+$.5*4"'#MOOJ#%))'$(//(*#62#(//#4*@3/#MM#)*+,"&/#;"'/+4#(6#)"*'+&"*#'+0#'$%11"#-(#+0.(//(/'#(6#"/(;1"*2&3'*".+*0"&#+0#4"&#47#-(4"#6(*2/#2#

#I#U"3"*2&3"&'#)*+)+'2/2+&#MOOJVIO#'9#NL9#

"$9#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

2#(//#,2*$(#"&#.=8

&2&3'3*%&4"*#.5*#4"#'.2F4"1/(3(*"#'+0#.+1$F;+$.5*4"'#%&4"*#MOOJW#

Diagram 5.2 are 16 år och äldre folkbokförda 2009, totalt 23 000

##$& !"#$%

##############################################################################################################################################################

$*(./9#!"/#8*#4"1'#4"#'+0#;"621=(/'#%))"-711'/211'/7&4#(6# .1@$/2&3'$81<#-%0(&2/8*(#'$81#"11"*#)7#3*%&4#(6#'$@44';"-+6<#4"1'#4"*('#(&-5*23(#'+0#$+002/#/211#:6"*23"#2&+0#/67#7*#"./"*#(//#(&$&@/&2&3')"*'+&"&#.+1$;+$.5*4"'9#!"/#.*(037*#2&/"#(6#:c`W'#'/(/2'/2$#"P($/#-%*#07&3(#(&-5*23(# 4"/# -(&41(*# +0<#0"&#0"4# 1"4&2&3# (6#Z23*(/2+&'6"*$"/'#'/(/2'/2$#56"*#;"621=(4"#%))"-711'/211'/7&4#%))'$(//(*#6*4"4"1#(6#.(021=";(&4"&#%/35*'#(6#'74(&(#)"*'+&"*9##\0#0(&#=80.5*#'(0/123(#%/+0&+*42'$(#2&6(&4*(*"#IY#7*#+,-#814*"#

'+0#.+1$;+$.5*4"'#MOOJ#0"4#4"0#'+0#4"#.(,/+#18'"*#'.2#%&4"*#'(00(#7*#02&'$(*#(&/(1"/#0(*$(&/9#!"''%/+0#.5*8&4*('#4"&#2&;5*4"'#.5*F4"1&2&3"&# (6# 4"# +12$(# ;+'8//&2&3'3*%&4"*&(9# [# 42(3*(0# X9M# .*(0F$+00"*#.51=(&4"#;+'8//

Sfi-deltagpersoner

!!"#$%&'()*+)%,22/

0)'%1%,D/,,,,,,,,,

3+$456%'+7&,E2/,,,,,,

359:147*+),;<:9&&<'%=(>?

=@$+741A)+,<:A5B,2F/,,,,,,,,,,,,,,,

C%7<4(7A),2/

"1@&4%),./,,,,,,,,,

!"

#!"# ;74(# 42(3*(00"&# 62'(*# (//# ,2*$(# YO#OOO# 2&6(&4*(*"# .+1$;+$F.5*4"'#%&4"*#MOOJ#+,-#(//#ML#OOO#)"*'+&"*#'(00(#7*#4"1/+3#2#'.29# M#`+'8//&2&3'3*%&4"&# .(021=";(&4#%/3=+*4"#4"&# '/5*'/(# (&4"1"&#+,-#=80.5*/# 0"4# 4"/# /2423(*"# 42(3*(00"/# -(*# (&4"1"&# 5$(/# ;"/@4123/<#.*7&#NI#)*+,"&/#/211#YI#)*+,"&/9#!"&#&8'/#'/5*'/(#3*%))"&#'+0#4"#.(,/+#18'"*# '.2# %/3=+*4"'# (6# $(/"3+*2&# '+0# ;"621=(/'# %))"-711'/211'/7&4# (6#.1@$/2&3'$81<#-%0(&2/8*(#'$81#"11"*#)7#3*%&4#(6#'$@44';"-+6<#46'9#4"&#$(/"3+*2# '+0# +0.(//('# (6# 4"&# &@123"&# 2&/*+4%,"*(4"# "/(;1"*2&3'F*".+*0"&9#!"&&(#$(/"3+*2#%))32,$#/211#IJ#)*+,"&/9#\0#62#86"&#-8*#

#M#!"&&(#=80.5*"1'"#/(*#2&/"#-8&'@&#/211#4"&#"./"*'18)&2&3#'+0#%))'/7*#2#)*($/2$"&<#47#07&3(#'+0#18'"*#'.2#MOOJ#.+1$;+$.5*/'#/2423(*"#8&#MOOJ9#Z+/'6(*(&4"#%))32./"*#.*7&#MOOT#'$21="*#'23#"0"11"*/24#2&/"#&80&68*/#.*7&#MOOJ#7*'#%))32./"*9##

"$H#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

%))"&'#(&4"1#(6#'(0/F123

&2&3#8&#AA:F0"4;+*3(*"<#(*;"/'$*(./'2&6(&4*(*"#+,-#'/%4F"&/"*9##

$=# &!@5*,A0KD(&)+&!-./!,0)&@!)0@*15&5!L)!9::<!

T# '$21="*# '23# "0"11"*/24# 2&/"# &80&68*/# .*7&# MOOJ#7*'#%))32./"*9##

##############################################################################################################################################################

%/37*#2.*7&#(//#"&#.=8*4"4"1#(6#(11(#.(021=";(&4#%/35*'#(6#(&-5*23(#/211#4"&&(# $(/"3+*2# %))37*# 4"&&(# 3*%))# /211# ,2*$(# LN# )*+,"&/<# 621$"/#+,$'7#8*#"&#(6'"68*4#5$&2&3#=80.5*/#0"4#3*(#%/+0&+*42'$(#2&6(&4*(*"#QMM#)*+,"&/R9##:(00(&.(//&2&3'62'#$(&#62#$+&'/(/"*(#(//#$(/"3+*2&#.(021=";(&4#

+,-#4"#'+0#+0.(//('#(6#"/(;1"*2&3'*".+*0"&#"./"*.*73(*#'.2#2#-53*"#%/'/*8,$

>*)@,015&(&)0!ML!,0!-1A'

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

#L#:.2#6(*#/9+909#7*#MOOM#+*3(&2'"*(/#'+0#"&#$%*'9#:"4(&#'/%42"683''@'/"0"/#2&.5*4"'#MOOL#$(&#"&#$%*'4"1/(3(*"#18'(#.1"*(#$%*'"*#%&4"*#"//#7*9#

"$##

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

Diagram 5.3 Antalet kursdeltagare per studievägskurs uppdelat på kvinnor och män 2009

0

5 000

10 000

15 000

20 000

25 000

30 000

35 000

Kurs 1A Kurs 1B Kurs 2B Kurs 2C Kurs 3C Kurs 3DKurs

Antal kursdeltagare

Kvinnor Män

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

##D%*'4"1/(3(*"# 0"4# '+0(12'$(# +,-# $%*42'$(V&+*4$%*42'$(# '+0#0+4"*'071#4"1/+3#2#-53*"#%/'/*8,$&2&3#8&#(&4*(#)7#'/%42"683#I9#!"#'+0# -(4"# )+1'$(<# ')(&'$(<# "&3"1'$(# +,-# )"*'2'$(# '+0#0+4"*'071#4"1/+3#2#-53#%/'/*8,$&2&3#)7#'/%42"683#L9##

E8'F# +,-# '$*262&18*&2&3# '$"*# '"4(&# MOOK# 2&+0# *(0"&# .5*# '.2# 2#'/811"/# .5*# 2&+0# 4"&# 3*%&41833(&4"# 6%P"&%/;214&2&3"&9# G6# (11(#$%*'4"1/(3(*"#MOOJ#4"1/+3#MN#)*+,"&/# 2# 18'F#+,-# '$*262&18*&2&39#G6#4"0#'+0#4"1/+3#2#'/%42"683#IG#+,-#I`#4"1/+3#&8'/(&#-81./"&#2# 18'F#+,-#'$*262&18*&2&39#G&4"1"&#$%*'4"1/(3(*"#0"4# 18'F#+,-#'$*262&18*F&2&3# 8*#02&4*"# 2# 4"#-53*"# '/%42"683'$%*'"*&(9#G6#4"0# '+0# '/%4F"*(4"#)7#'/%42"683#L#!#4"1/+3#II#)*+,"&/#2#18'F#+,-#'$*262&18*&2&39#

B&3".8*#7//(#)*+,"&/#(6#$%*'4"1/(3(*&(#-(4"#3=+*/#)*($/2$#%&4"*#7*"/9#!"/#8*#6(&123(*"#(//#4"1/(3(*"#2#.+*/'8//&2&3'$%*'"*&(<#46'9#I`<#Mc#+,-# L!#35*# )*($/2$9#B))32./"*&(# +0#)*($/2$# ;5*# 4+,$# /+1$('#0"4# .5*'2$/23-"/# "./"*'+0# 4"/# .2&&'# /@4123(# 2&42$(/2+&"*# )7# (//#+0.(//&2&3"&#(6#)*($/2$#8*#%&4"*'$(//(49##

"$$#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

##############################################################################################################################################################

$=#=" NO43)P&)0!9::E!-./!,0)&@!)0@*15&5!5=-=?=!9::<!!!

A./"*'+0#4"1/(3(*&(#;5*=(*#'/%42"*&(#)7#+12$(#&267"*#+,-#6(*="#$%*'#$(&# 6(*(# 4"&# (6'1%/(&4"# 6(*2"*(*# /24"&# $*(./23/# 0"11(&# 4"1/(3(*&(9#?5*#(//#;"450(#*"'%1/(/"&#2#'.2#.51='#48*.5*#"&#3*%))#4"1/(3(*"#%&4"*#"&# *"1(/26/# 17&3# /24# 2# '/(/2'/2$"&9#A./"*'+0#"&#4"1/(3(*"#$(&#-(# .7//#3+4$8&/# *"'%1/(/# )7# .1"*(# $%*'"*# *8$&('# 4"&# -53'/(# $%*'# '+0# 4"1F/(3(*"&#-(*#'1%/.5*/#%&4"*#/24')"*2+4"&9#

G6# &@;5*=(*&(# MOOK# -(4"# YM# )*+,"&/# (6'1%/(/# &73+&# $%*'#0"4#02&'/# 3+4$8&/# *"'%1/(/# /9+909# MOOJ9#D&())/# -81./"&# (6# 4"''(# -(4"#.7//# #3+4$8&/#*"'%1/(/#)7#'/%42"683'$%*'#L!9#:/5*'/#(&4"1#4"1/(3(*"#'+0#.7//#3+4$8&/#)7#&73+&#$%*'#.(&&'#;1(&4#4"0#'+0#-(4"#;5*=(/#%/;214&2&3"&#)7#L!9#G6#4"''(#-(4"#KX#)*+,"&/#(6'1%/(/#$%*'"&#0"4#02&'/#3+4$8&/#*"'%1/(/9#E83'/#6(*#(&4"1"&#;1(&4#4"0#'+0#)7;5*=(/#'2&#%/;214&2&3#)7#'/%42"683'$%*'#I`9#G6#4"''(#-(4"#"&4('/#XO#)*+F,"&/# (6'1%/(/# &73+&# $%*'# 0"4# 02&'/# 3+4$8&/# *"'%1/(/9# G6# 4"#&@;5*=(*"#'+0#;5*=(4"#)7#$%*'#IG#18'7*"/#MOOK#-(4"#YX#)*+,"&/#.7//#02&'/# 3+4$8&/# *"'%1/(/#)7#&73+&#$%*'# /9+909# MOOJ9#!"# .1"'/(# -(4"#(6'1%/(/#$%*'#IG#"11"*#I`#'+0#-53'/9#

#N#:/(/2'/2$#.*7&#:$+16"*$"/<#SZ#!&*#KIFMOIOWN9#

"$B#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

Tabell 5.1 Studieresultat t.o.m. 2009 för deltagare som påbörjat sin utbildning 2007, deltagare prioriterade efter högsta godkända studievägskurs "

Slutfört någon kurs Avbrott/studie-uppehåll

Nybörjare 2007, oavsett entré därav entré på studievägskurs

Fortsätter utbildningen

Totalt Kvinnor Män 1A 1B 2B 2C 3C 3D

Samtliga deltagare 34 104 17 856 16 248 5 484 1 431 13 652 1 618 10 374 1 545 Slutfört någon kurs med minst godkänt resultat (%) 62 66 57 65 50 62 58 61 75

därav

Kurs 1A 5 5 4 28

Kurs 1B 3 3 2 11 19

Kurs 2B 11 11 12 8 8 24

Kurs 2C 8 8 9 7 10 14 22

Kurs 3C 8 8 7 3 4 3 3 18

Kurs 3D 28 32 23 8 9 20 33 43 75 Avbrott/studie-uppehåll (%) 23 20 27 18 25 24 23 26 16 Fortsätter utbildningen (%) 15 14 16 17 25 14 18 13 9

##d&3*"#4"1/(3(*"# .2,$# 2#-53*"#3*(4#3+4$8&/#)7#&73+&#$%*'# 8&#814*"#4"1/(3(*"9# G&4"1"&# 4"1/(3(*"# 0"4# $+*/# /2423(*"# %/;214&2&3# -(4"# 2#-53*"#3*(4#'1%/.5*/#$%*'"*# 2&+0#'/%42"683#I#0"4(&#4"1/(3(*"#0"4#18&3*"#%/;214&2&3#2#-53*"#3*(4#'1%/.5*/#$%*'"*#2&+0#'/%42"683#L9##

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

###############################################################################################################################################################X#A./"*'+0#4"1/(3(*"&#;5*=(*#'/%42"*&(#)7#+12$(#&267"*#+,-#6(*="#$%*'#$(&#6(*(#4"&#(6'1%/(&4"<#$(&#'/%42"/24"&#6(*2"*(9#A&#4"1/(3(*"#2#'.2#$(&#-(#.7//#3+4$8&/#2#.1"*(#$%*'"*#+,-#2#.1"*(#'/%42"F683(*9#!"1/(3(*&(#*8$&('#"&4('/#"&#37&3#621$"/#.7*#/211#.51=4#(//#(&/(1"/#4"1/(3(*"#'+0#.7//#3+4F$8&/#*"'%1/(/#2#4"#183*"#$%*'"*&(#%&4"*'$(//('9#

"$E#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

2#3"&+0'&2//#.7//#.1"*#%&4"*62'&2&3'/200(*#8&#4"#'+0#;5*=(4"#)7#4"#-53*"#$%*'"*&(9#!"#4"1/(3(*"#'+0#;5*=(4"#'2&#%/;214&2&3#)7#IG#+,-#'+0#.7//#3+4$8&/#)7#L!#-(4"#2#3"&+0'&2//#.7//#YNK#/200(*9#!"#'+0#;5*=(4"#)7#L!#-(4"#2#3"&+0'&2//#.7//#INM#/200(*9#

$=#=9 Q015&(&)+&@!4&'()*+,!9::<!!

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a53'/# (&4"1# (6# 4"1/(3(*&(# 6(*# .544(# 2# [*($9#!8*"./"*# 6(*# .1"'/# .544(# 2# :+0(12(<#]-(21(&4# +,-#S+1"&9#`1(&4# $62&F&+*&(# 6(*# [*($# 4"/# 6(&123('/"# .54"1'"1(&4"/# QMO# )*+,"&/R# .51=/# (6#]-(21(&4#QIO#)*+,"&/R<#:+0(12(#QK#)*+,"&/R#+,-#S+1"&#QX#)*+,"&/R9##

"$F#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

$=$ RA11D?M+A+(0+!&K!40@5D??01@0)+&!A!@'-11&(0+!-?!&K4)-55!A!*+,0)KA@+A+(0+!

A&123/# 42*"$/26"&# '$(# 62# /(# *"4(# )7# -%*# $+00%&"*&(# /21180)(*#;"'/800"1'"&#2#IL#$()9#II#b#'$+11(3"&#QIJTXWIIOOR#'(0/#%&4"*'5$(#+0#4"/# .2&&'# (&1"4&2&3#(//# .5*/@4123(#4"&&(#;"'/800"1'"9# [#4"&#&@(#'$+11(3"&# QMOIOWTOOR# 7/"*.2&&'# 0+/'6(*(&4"# ;"'/800"1'"*# 2# MM#$()9# IY#+,-#IK#bb9#

`"'/800"1'"*&(#2&&";8*#(//#'.2#'$(#%))-5*(#.5*#4"&#'+0#'($&(*#.5*%/'8//&2&3(*#(//#/2113+4+35*(#'23#%&4"*62'&2&3"&#"11"*#(&&(*'#2&/"#35*#/211.*"4''/811(&4"#.*(0'/"39#!"1/(3(*"&#$(&#+,$'7#.*2621123/#(6;*@/(#%/;214&2&3"&9# [#;74(# .(11"&#'$(#4"1/(3(*"&#)7#&@//#;"*"4('#%/;214&2&3#+0# 4"/# .2&&'# '8*'$214(# '$81# .5*# 4"/9# `"'/800"1'"&# 2&.5*4"'# .5*# (//#0(*$"*(# (//# 7/"*$+00(&4"# '/%42"%))"-711# "11"*# '/%42"(6;*+//# 2&/"#(,,")/"*('# +0# 4"/# 2&/"# .2&&'# 3+4/(3;(*(# '$81# .5*# (//# (6;*@/(# %/;214F&2&3"&9#G6#.5*(*;"/"&(#.*(037*#(//#'74(&(#'$81#$(&#6(*(#/9"P9#'=%$4+0#"11"*#.5*814*(1"423-"/9#

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

!"#$%&'()*$%'+,*$+0;(4'#$+00%&"*&(#(//#%))'$(//(#(&/(1"/#4"1F/(3(*"#'+0#/9+909#4"&#LO#=%&2#MOIO#-(4"#(6;*%/2/#'.2#%/(&#(//#.7#;"/@39#B/2.*7&#4"//(#%*6(1#"./"*.*73(4"'#"&#%))'$(//&2&3#(6#-%*#07&3(#'+0#$+00%&"*&(#.(//(/#;"'1%/#+0#(//#%&4"*62'&2&3"&#'$%11"#%))-5*(#.5*9#!8*"./"*# +0;(4'# $+00%&"*&(# (//# %))'$(//(# -%*# 07&3(# '+0#(&'5$/#+0#(//# .7# .+*/'8//(# '.2# (6#4"0#'+0#.7//#;"'1%/#+0#%))-5*F(&4"#(6#'.2#'(0/#-%*#07&3(#(6#4"''(#'+0#;"450/'#-(#-(./#'8*'$214(#'$81#.5*#(//#)7#&@//#;"*"4('#)1(/'9#

G6#"&$8/'6(*"&#.*(037*#(//#4"/#2#0"*)(*/"&#(6#$+00%&"*&(#QYY#)*+,"&/R#8*#.8**"#8&#MO#)*+,"&/#'+0#-(*#(6;*%/2/#'.2#%/(&#(//#.7#;"/@39#C24(*"#.*(037*#(//#4"/#2&/"#8*#'8*'$21/#6(&123/#(//#4"''(#(6;*+//#-(*#.5*"F37//'# (6#&73+/#;"'1%/# .*7&#$+00%&"&'# '24(9# [# NY# )*+,"&/# (6# '6(*"&#.*(0$+00"*#(//#$+00%&"&#2&/"#-(*#.(//(/#&73*(#;"'1%/#(11'#2#'(0F;(&4#0"4#(6;*+//"&#0"4(&#XL#)*+,"&/#(6#$+00%&"*&(#-(*#'6(*(/#(//# ;"'1%/# -(*# .(//(/'# 2# .8**"# 8&# MO# )*+,"&/# (6# .(11"&9# !"/# 8*# 2&/"#

"$<#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

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

Diagram 5.4 Sfi-studerandes avbrott

0

20

40

60

80

100

120

hade avbrut it s ina studier

utan at t f å betyg?

som kom munen har fattat

bes lut om att underv isningen

ska upphöra?

som har ansökt om att få

fort sät ta Sfi?

som har bedömts ha

särskilda skäl f ör att på nytt

beredas plat s i

underv isningen?

Inga

Fär re än 2 0 pr ocent

M ellan 20 o ch 50 p ro cent

Fler än 50 p r ocent

Inget svar

!"##$& 1-,+23034+3.%+3'5-$%

##-./# */0'*$ %'+,*/$ -(&41(4"# +0# .5*"$+0'/"&# (6# $+00%&(1(# *2$/F12&="*#.5*#&8*#;"'1%/#'$(#.(//('#+0#(//#%&4"*62'&2&3"&#'$(#%))-5*(9#LT#)*+,"&/#QYM#'6(*R#'6(*(*#(//#4"/#.2&&'#$+00%&(1(#*2$/12&="*#+,-#YI#)*+,"&/#QJJ#'6(*R#(//#4"/#'($&('<#621$"/#.*(037*#2#42(3*(0#X9X9#

"B:#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

Diagram 5.5 Finns kommunala riktlinjer för när beslut ska fattas om att undervisningen ska upphöra?

!"##$& 1-,+23034+3.%+3'5-%

#-./#)'.01.$%'+,*/$/(*#%))#.*73(&#+0#2#621$"&#%/'/*8,$&2&3#+*'($"*&(#/211#.*2621123(#(6;*+//#4+$%0"&/"*('9#A&123/#XK#)*+,"&/#(6#'6(*"&#QJL#'6(*R#35*'#4"/#(11/24#+,-#MN#)*+,"&/#QLJ#'6(*R#-(*#'6(*(/#(//#4"/#35*'#+./(9#H//(#)*+,"&/#QNR#-(*#%))3262/#(//#4"/#35*'#'811(&#"11"*#(14*239#

Diagram 5.6 I vilken utsträckning dokumenteras orsakerna till frivilligt avbrott?

!"##$& 1-,+23034+3.%+3'5-$%

0

20

40

60

80

100

120

Ja Nej Inget svar

0

10

20

30

40

50

60

70

80

90

100

Alltid Ofta Ibland Sällan Aldrig

"B"#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

!*##*/%*))/2/,(32(# 62'(*# *"'%1/(/"/# (6# "&$8/"&# (//# $+00%&"*&(#2&/"#2#'8*'$21/#'/+*#+0.(//&2&3#/21180)(*#'$+11(3"&'#;"'/800"1'"#+0#(//#%&4"*62'&2&3"&#'$(#%))-5*(#.5*#4"&#'+0#'($&(*#.5*%/'8//&2&3(*#(//# /2113+4+35*(# '23# %&4"*62'&2&3"&# "11"*# (&&(*'# 2&/"# 35*# /211.*"4'F'/811(&4"# .*(0'/"39#!"/# 2&&";8*# 2# '2&# /%*# (//# 4"# $+00%&(1(# '$+1F-%6%408&&"&#'811(&#.7*#(&1"4&2&3#(//#)*56(#+0#4"1/(3(*"&#-(*#'8*F'$214(#'$81#.5*#(//#7/"*%))/(#'.29#!"/#.5*"$+00"*#4+,$#(//#%&4"*62'F&2&3"&# %))-5*# +,-# 2# LT# )*+,"&/# (6# '6(*"&# .*(0$+00"*# (//# 4"/#.2&&'#$+00%&(1(#*2$/12&="*#.5*#4"//(9#!"#.*2621123(#(6;*+//"&#4+$%F0"&/"*('#2#-81./"&#(6#$+00%&"*&(9##

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

$=$=" S)&TA@!2)L+!6'-1KD@0+,05@!3K0)'1&(&+,0+D?+,!

`"'/800"1'"*&(#2#IJTX#7*'#'$+11(3#+,-#4"&#&@(#'$+11(3"&#'$21="*#'23#2&/"# &80&68*/# 7/# 2# .*73(# +0# 56"*$1(3(&4";"'/800"1'"*&(9#>"4(&#*"4+35*'#.5*#)*(P2'#.*7&#:$+168'"&4"/'#56"*$1(3(&4"&80&4<#'+0#8*#4"&# 0@&423-"/# '+0# )*56(*# 62''(# 56"*$1(3(4"# ;"'1%/# 2&+0# 4"/#+.."&/123(#'$+168'"&4"/9##

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

"B9#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

;"'1%/# -(*# 2# 07&3(# .(11# 2&&";%*2/# "//# %))-86(&4"# (6# $+00%&"&'#;"'1%/# +0# (//# %/;214&2&3"&# '$(# %))-5*(9# !"/# .2&&'# .1"*(# '$81# /211#4"//(<#'+0#$(&#'(00(&.(//('#2#.51=(&4"#.@*(#$(/"3+*2"*W#

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e6"*$1(3(&4"F&80&4"&9#

;5 </0.':*,$(*=/*($.::.'$>'$")2::'>?=:2,)$[#.1"*(#(6#4"#;"'1%/#'+0#&80&4"&#-(*#8&4*(/#-(*#&80&4"&#(&'"//#(//#$+00%&"&'#4+$%0"&/(/2+&#(6#3*%&4"*&(#.5*#;"'1%/"/#(&/2&3"&#-(*#6(*2/#+/211*8,$123#"11"*#2#&73*(#.(11#-"1/#'($&(/'9#?5*%/+0#(//#4"/#$*86'#"//# ;"'1%/#+0#%))-5*(&4"#07'/"#4"/#.51=('# (6# "&#%/.5*123#+,-# /@4123#4+$%0"&/(/2+&#(6#4"1/(3(*"&'#'/%42"*#'+0#$(&#3"#'/54#.5*#'1%/'(/'"&#(//#4"1/(3(*"&#-(*#;*2'/(&4"#.5*%/'8//&2&3(*#"11"*# 2&/"#-(*#3=+*/# .*(0F'/"39#

@5 6"')*$)20(2/).'3*::$!"/# .2&&'# 86"&# .1"*(# "P"0)"1# )7# &8*# $+00%&"&# -(*# 3*%&4(/# '2&#;"450&2&3#(6#4"1/(3(*"&'#)*"'/(/2+&#)7#"&#+*20123/#$+*/#/24')"*2+49#[# "//# 8*"&4"# -(4"# 4"1/(3(*"&'# $%&'$()"*# /"'/(/'# 0"4# "&# 07&(4'#0"11(&*%0#+,-#2#"//#(&&(/#8*"&4"#32,$#4"/#'"P#6",$+*#0"11(&#)*+6F/211.811"&(9#!"/#6(*<#"&123/#&80&4"&<#"&#(114"1"'#.5*#$+*/#)"*2+4#.5*#(//#"6"&/%"11(#.*(0'/"3#'$%11"#$%&&(#;"450('9#

A5 B.:9.0&#/2/,$*3$3*0$("#$7),&'$.))$()702.*39'"))$e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

"BH#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

##############################################################################################################################################################

A//#"P"0)"1#)7#)%&$/#.@*(#8*#)"*'+&"&#f#'+0#'1%/.5*4"#"&#`F$%*'#4"&# MK#0(=# +,-# 47# ;"4504"'# -(# /211*8,$123/# 3+4(# ')*7$$%&'$()"*#.5*#(//#$%&&(#.7#(*;"/"9#>8*#-(&#8&47#(&0814"#'23#/211#cF$%*'"&#4"&#MK#(%3%'/2#'(00(#7*#(6'1+3#$+00%&"&#-(&'#(&'5$(&#0"4#-8&62'F&2&3#/211#(//#-(&#-(4"#(6;*%/2/#'2&#'.2#+,-#(//#4"/#2&/"#.(&&'#'8*'$214(#'$81#.5*#(//#.7#7/"*%))/(#4"&9#>80&4"&#3=+*4"#"&#(&&(&#;"450&2&3#+,-#0"&(4"#(//#"./"*'+0#f#(6;*5/#'2&(#'/%42"*#.5*#(//#$+00%&"&#;"4504"# (//#-(&'#$%&'$()"*# 6(*# /211*8,$123(# 6(*#4"/# 2&/"# .*73(#+0#"//#.*2621123/#(6;*+//#+,-#4"/#$*864"'#48*.5*#2&/"#(//#4"/#.(&&'#&73*(#'8*'$214(# '$81# .5*#&@#(&/(3&2&39#!"''%/+0#.*(0-511#&80&4"&<# 12$F'+0#2#.1"*(#(&4*(#8*"&4"&<#(//#/(&$"&#8*#(//#(11(#4"1/(3(*"#'+0#2&/"#-(*#/211*8,$123(#')*7$$%&'$()"*#'$(#"*;=%4('#'.2#%))#/211#!F&267&9##

A//# 12$&(&4"# "P"0)"1# 38114"# "&#)"*'+&# '+0#-(4"# 18'/# '.2# %&4"*#/24"&#()*21#MOOX^=(&%(*2#MOOK9#a(&#3+4$8&4"'#47#)7#cF$%*'"&#+,-#)7;5*=(4"#48*"./"*#"&#@*$"'%/;214&2&3#2#"&123-"/#0"4#4"&#)1(&"*2&3#'+0#-(4"#3=+*/'#.5*#-+&+09#D+00%&"&#0"&(4"#(//#-(&#-(4"#(6;*%/2/#'2&#'.2#+,-#(6'1+3#-(&'#;"38*(&#+0#(//#'"&(*"#.7#.+*/'8//(#/211#!F&267&9#>80&4"&#(&'73#(//#4"1/(3(*"&#-(4"#.51=/#4"&#%))3=+*4(#'/%42")1(&"&#&8*#-(&#32,$# .*7&#cF$%*'"&# /211#@*$"'%/;214&2&3"&#+,-#(//#4"/# 2&/"#6(*# .*73(# +0# &73+/# .*2621123/# (6;*+//9# H/"*23"&# .*(0-511'# 071'8//F&2&3"&#(//#(11(#'$(#.7#'/%4"*(#%))#/211#!F&267&9#

:(00(&.(//&2&3'62'#$(&#'83('#(//#3"&+037&3"&#62'(*#(//#4"/#;5*#'/811('# /@4123(# $*(6#)7# $+00%&"&'#;"'1%/# +0# (//# '.2# '$(# %))-5*(9#D*(6"&#*5*#;74"#.+*0"*&(#.5*#;"'1%/"/#+,-#4+$%0"&/(/2+&"&#(6#4"/#%&4"*1(3# '+0# ;"'1%/"/# 3*%&4(*# '23# )79# !"/# /@,$'# +,$'7# .2&&('# "&#62''# +$%&'$()# +0# 6(4# '+0# $(&# (&'"'# %/35*(# "//# .*2621123/# '/%42"F(6;*+//9# ?*(0.5*# (11/# 3811"*# 4"/# &8*# "&# )"*'+&123# '/%42")1(&# 2&&"F-711"*#;74"#0+0"&/#(6#'.2#+,-#(&&(&#%/;214&2&39#

$=B 65*,A05A,!-./!&K4)-55!

:/(/'$+&/+*"/# -(*# %/2.*7&# %))32./"*# .*7&# :$+16"*$"/# 3*(&'$(/# -%*#/24"&#2#'.2#6(*2"*(*#0"4#4"1/(3(*&('#;($3*%&49Y#!"/#.51=(&4"#;('"*('#)7#:/(/'$+&/+*"/'#;"(*;"/&2&3(*#(6#4(/(#.*7&#:$+16"*$"/9##

!"#.5*%/'8//&2&3(*#4"1/(3(*&(#-(*#0"4#'23#62'(*#'23#2#'/+*#%/'/*8,$F&2&3#;"'/800(#-%*#17&3#/24#4"#4"1/(*#2#'.29#A&#62$/23#.($/+*#8*#.*(0.5*#(11/# /2423(*"# %/;214&2&3<#0"&#+,$'7# 621$"/#0+4"*'071#0(&#-(*# $(&#-(#;"/@4"1'"9#

#Y#:/(/'$+&/+*"/#<#SZ#MOIO<#C/$%&'017D*0$'.0"32(/2/,$*3$()702.)20.'$2$(%2$(*#)$()702.*39'"))$2$(%25#

"B##

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

##############################################################################################################################################################

!"/# .2&&'# "&# /@4123# '$211&(4#0"11(&# +12$(# 3*%))"*# (6# 4"1/(3(*"#"./"*# %&3".8*# "//# 7*'# 4"1/(3(&4"9# Z(=+*2/"/"&# (6# 4"1/(3(*&(# .*7&#18&4"*#2&+0#AB<#56*23(#C8'/"%*+)(<#B:G<#D(&(4(<#+,-#G%'/*(12"&#'(0/# -81./"&# (6# 4"1/(3(*&(# .*7&# 18&4"*# '+0#U@''1(&4<# C2/*@''1(&4#+,-#B$*(2&(#09.19#(6'1%/(*#'2&(#'/%42"*#2&+0#"//#7*9#A&#0(=+*2/"/#(6#4"1/(3(*&(#.*7&#(&4*(#4"1(*#(6#68*14"&#4"1/(*#18&3*"#2#'.2#8&#"//#7*<# 2#.1"*(#.(11#/67#"11"*#/*"#7*9#g%#18&3*"#/24#"&#4"1/(3(*"#4"1/(*#2#'.2<#4"'/+#.1"*#4"1/(3(*"#-(*#"&#;($3*%&4#0"4#$+*/(*"#%/;214&2&3#8&#&2+#7*#+,-#4"'/+# .1"*#4"1/(3(*"#0"4#62''(#0+4"*'071<# 2# .5*'/(#-(&4# '+0(12'$(#+,-# $%*42'$(9# !"1/(3(*&(# .*7&# 4"''(# 18&4"*# -(*# +./(# $+*/(*"# "11"*#2&3"&#%/;214&2&3#(11'9##

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

Diagram 5.7 Andel deltagare som kvarstår i sfi efter viss tid (nybörjare 2003/04)

0

10

20

30

40

50

60

70

80

90

100

Påbörjade sfi

03/04

Ett år Två år Tre år Fyra år

Pro

cen

t

Män

Kvinnor

Samtliga

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

#!"/#.2&&'#86"&#'/+*(#'$211&(4"*#2#.5*%/'8//&2&3(*#+,-#6211$+*#0"11(&#4"1/(3(*&(<# 621$"/# 7/"*')"31('# 2# 4"# 3"&+0'&2//123(# '/%42"/24"*&(# .5*#4"#/*"#+12$(#'/%42"683(*#'+0#4"1/(3(*"#2#'.2#.5*4"1('#)79##

#K#:"#624(*"#:/(/'$+&/+*"/#QMOIOR<#(9(9##

"B$#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

C21$"&#2&1"4(&4"#'/%42"683#"&#4"1/(3(*"#7/"*.2&&'#)7#3"*#"&#0"*#/*8..F'8$"*#)*+3&+'#.5*#'/%42"/24"&'#18&34#8&#/211#"P"0)"1#/2423(*"#%/;214&2&3#"11"*#0+4"*'071#86"&#+0#0(&#(&68&4"*#;74(#4"''(#2&42$(/+*"*#/211'(0F0(&'9#G6#4"1/(3(*&(#)7#'/%42"683#L#(6'1%/(4"#YT#)*+,"&/#'.2#2&+0#"//#7*9#Z+/'6(*(&4"#%))32./"*# .5*# '/%42"683# I#+,-# M# 6(*# MI# *"')"$/26"# LO#)*+,"&/9#A./"*#/67#7*#.(&&'#XK#)*+,"&/#(6#4"1/(3(*&(#)7#'/%42"683#I#$6(*#2#'/%42"*<#NM#)*+,"&/#(6#4"1/(3(*&(#)7#'/%42"683#M#+,-#"&4('/#IM#)*+,"&/#)7#'/%42"683#L9#:(0;(&4"/#0"11(&#'/%42"683#+,-#3"&+0'/*50&2&3#8*#'71"4"'#0@,$"/#/@4123/#Q42(3*(0#X9T^X9IOR9#

Diagram 5.8 Andel deltagare på studieväg 1 efter avslutad tid i sfi (nybörjare 2003/04). Uppgifter om deltagande sträcker sig fram till den 30 juni 2008

0

10

20

30

40

50

60

70

80

- 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år

Pro

cen

t

Avbrutit utan "godkänd"

Minst ett "godkänd"

Män Kvinnor Samtliga

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

#

"BB#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

Diagram 5.9 Andel deltagare på studieväg 2 efter avslutad tid i sfi (nybörjare 2003/04)

0

10

20

30

40

50

60

70

80

- 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år

Pro

cent

Avbrutit utan "godkänd"

Minst ett "godkänd"

Män Kvinnor Samtliga

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

Diagram 5.10 Andel deltagare på studieväg 3 efter avslutad tid i sfi (nybörjare 2003/04)

0

10

20

30

40

50

60

70

80

- 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år - 1 år 1 - 2 år 2 - år

Pro

cent

Avbrutit utan "godkänd"

Minst ett "godkänd"

Män Kvinnor Samtliga

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%.'()*+,'+-.%.-/-0.-0'$%

##A//#(&&(/#.5*-711(&4"#'+0#;5*#%))08*$'(00('#8*#4"/#'/+*(#(&/(1"/#4"1/(3(*"#'+0#(6'1%/(*#'.2#%&4"*#4"/#.5*'/(#7*"/#%/(&#(//# .7#;"/@3"/#h+4$8&4# )7# &73+&# $%*'9# :+0# .*(037*# (6# 42(3*(00"&# X9T^X9IO#(6'1%/(*# 07&3(# 4"1/(3(*"# '.2# %/(&# (//# -(# .%11.51=/# &73+&# $%*'# (11'9#!"//(# 05&'/"*# .*(0/*84"*# 8&&%# /@4123(*"# &8*# 0(&# '/%4"*(*# 4"/#/+/(1(# (&/(1"/# 4"1/(3(*"# .5*4"1(/# "./"*# (&/(1# 7*# 2# '.2<# 12$('7# .5*F-711(&4"/# (//# $62&&123(# 4"1/(3(*"# 2# -53*"# %/'/*8,$&2&3# (6'1%/(*# '.2#0"4#02&'/#;"/@3"/#3+4$8&/#2#"&#$%*'#Q42(3*(0#X9IIR9#B&3".8*#XO#)*+F

"BE#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

##############################################################################################################################################################

,"&/#(6#08&&"&#'+0#180&(*#'.2#2&+0#"//#7*#(6'1%/(*#'/%42"*&(#%/(&#(//#-(#.%11.51=/#&73+&#$%*'9#Z+/'6(*(&4"#(&4"1#;1(&4#$62&&+*&(#8*#;"/@4F123/#02&4*"<#$&())/#LX#)*+,"&/9T#A&#62''#(&4"1<#,2*$(#MX#)*+,"&/<#(6#4"0#'+0#.+*/'8//"*#'.2#"./"*#02&'/#"//#7*#(6'1%/(*#+,$'7#%/(&#(//#.%11F.51=(#&73+&#$%*'9#a8*# 8*# '$211&(4"&#0"11(&#08&#+,-#$62&&+*#$1(*/#02&4*"9##

Diagram 5.11 Antal manliga och kvinnliga deltagare som fullföljer respektive inte fullföljer minst en kurs – fördelat efter antal år i sfi (deltagare som påbörjade sfi läsår 2003/2004)

0

1000

2000

3000

4000

5000

6000

- 1 år 1-2 år 2-3 år 3-4 år 4-år - 1 år 1-2 år 2-3 år 3-4 år 4-år

An

tal p

erso

ner

Avbrutit utan "godkänd"

Minst ett "godkänd"

Män Kvinnor

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%.'()*+,'+-.%.-/-0.-0'$%

$=B=" 65*,A05A,0+@!1D+(,!?0,!&K@00+,0!ML!-1A'&!4&'()*+,@2&'5-)0)!

:/(/'$+&/+*"/#-(*#624(*"#'/%4"*(/#621$(#4"1/(3(*"#'+0#7/"*.2&&'#2#'.2#0"4# (6'""&4"# )7# +12$(# .($/+*"*# '+0# "P"0)"162'# $5&# +,-# %/;214F&2&3';($3*%&49#A&123/#:/(/'$+&/+*"/'#*"4+62'&2&3#.2&&'#2&3(#'/5**"#'$211&(4"*# 0"11(&# 18'7*"&9# !8*.5*# *"4+62'('# "&;(*/# *"'%1/(/"&# .5*#&@;5*=(*"#18'7*"/#MOOLVON9##

G6# *"4+62'&2&3"&# .*(037*# (//# (&4"1"&# $62&&123(# 4"1/(3(*"# 5$(*#0"4# 18&3*"# '/%42"/249# !"//(# *"4+62'('# 2# /(;"11# X9M9# G6# '(0/123(#&@;5*=(*"# 6(*# XT# )*+,"&/# $62&&+*9# ?@*(# 7*# '"&(*"# 6(*# (&4"1"&# KM#)*+,"&/9#Z8&# '"*# (11/'7# %/# (//# (6'1%/(# '2&(# '.2F'/%42"*# '&(;;(*"# 8&#

#T#Z"*)(*/"&#(6#'(0/123(#4"1/(3(*"#'+0#(6'1%/(*#'.2#%&4"*#4"/#.5*'/(#7*"/<#&8*0(*"#'=%#(6#/2+<#(6'1%/(*#'.2#*"4(&#%&4"*#.5*'/(#-(167*"/#"&123/#:/(/'$+&/+*"/#QMOIOR#C/$%&'017D*0$'.0"32(/2/,$*3$()702.)20.'$2$(%25$

"BF#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

-(*#'(/

'/# 0(*32&"11/# 0"11(&# 4"1/(3(*"#'+0#4"1/(*#2#'.2#%&4"*#+12$(#17&3#/249#

Tabell 5.2 antal år

(deltagare som )

år i sfi e al år (%

$62&&+*9#G&4"1"&#&@(&18&4(#.1@$/2&3(*#5$(*#&73+/#.*7&#IJ#)*+,"&/#"./"*#"//#7*#/211#MI#)*+,"&/<#0"&#(6/(*#'"4(&9#?@*(#7*#"./"*#)7;5*=(4"#'/%42"*# %))37*# 4"&&(# (&4"1# /211# IL#)*+,"&/9#Z"4# (&4*(#+*4<# &@(&F18&4(#.1@$/2&3(*#$6(*'/7*#2&1"4&2&3'62'#2#-53#%/'/*8,$&2&3#2#'.2#0"&#(6'1%/(*#48*"./"*#'2&(#'/%42"*#2#'&(;;(*"#/($/#8&#56*23(#3*%))"*9#A&#05=123# .5*$1(*2&3#8*#(//#4"&#/2423(*"# 2&/*+4%$/2+&'"*'8//&2&3"&#/#3*8&'"*#.5*#-%*#18&3"#0(&#.5*68&/('#4"1/(#2#'.29J##h"&+0'&2//'714"*&# 6(*2"*(*# "&4(

Andel kvinnliga deltagare respektive nyanlända flyktingar samt medelålder för deltagare som kvarstod i sfi efter ett visst

påbörjade sfi läsår 2003/04

Kvarst fter ant ) Variabel

sfi läsåret 2003/04 Ett år Två år Tre år Fyra år

liga 58 62 65 68 72

Alla som påbörjar

Andel kvinndeltagare Andel nyanlända

ar 19 21 18 15 13

2 33 32 32

flyktingÅlder, genomsnitt 31 3

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

*R# 8*# 56"**")*"'"&/"*(4"# ;1(&4# 4"1/(3(*"# 0"4# 17&3(#'/%

#'.2#)7

#I#+,-#M#;"-56"*#18'(#.1"*#$%*'"*#.5*#(//#'1%/.5*(#'.2#/9+909#$%*'#!9##

##############################################################################################################################################################

#!"1/(3(*"# 0"4# $+*/# /2423(*"# %/;214&2&3# Q%/;214&2&3# 0+/'6(*(&4"#-53'/# &2+# 7

42"/24"*9#G6#'(0/123(#4"1/(3(*"#'+0#;5*=(4"#'.2#18'7*"/#MOOLVON#;5*=(4"#NN#

)*+,"&/#)7#'/%42"683#L#Q/(;"11#X9LR9#A./"*#.@*(#7*#6(*#(&4"1"&#"&4('/#T#)*+,"&/9#G&4"1"&#4"1/(3(*"#'+0#7/"*.2&&'#2#'.2#+,-#'+0#;5*=(4"#'/%42"683#I#-(*#48*"0+/#.5*4%;;1(/'<#.*7&#IJ#/211#NM#)*+,"&/9##A&#+*'($#/211#4"&&(#'$211&(4#8*#(//#4"1/(3(*"#)7#'/%42"683#L#"&4('/#

-(*#"&#"11"*#/67#$%*'"*#(//#3"&+037#.5*#(//#'1%/.5*(#'.29#!"1/(3(*"#)7#'/%42"683

#J#!"1/(3(*"# '+0# 6(*# ;+'(//(# '+0# &@(&18&4(# .1@$/2&3(*# $%&4"# /2423(*"# .7# 2&/*+4%$/2+&'F"*'8//&2&3#+,-#$+00%&"*&(#;"'/804"#'=816(#-%*#18&3"#4"1/(3(*"#2#'.2#'$%11"#6(*(#;"*8//23(4"#/211#'74(&#"*'8//&2&39#

"B<#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

Tabell 5.3 Andel deltagare som kvarstår i sfi efter ett visst antal år, fördelat på första studieväg i sfi (deltagare som påbörjade sfi läsår 2003/04)

Kvarstår i sfi efter antal år (%) Första studieväg

Alla som påbörjar sfi läsåret 2003/04

Ett år Två år Tre år Fyra år

1 19 27 33 37 42 2 38 48 50 50 50 3 44 25 16 13 8 Totalt 100 100 100 100 100

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

#>2+#)*+,"&/#(6#&@;5*=(*&(#MOOLVON#4"1/+3#2#18'F#+,-#'$*262&18*&2&3#Q/(;"11#X9NR9#S7# '/%42"683#I#6(*# (&4"1"&#MN#)*+,"&/9#G&4"1"&#(6/(*#"./"*#/67#7*9#A&#05=123#.5*$1(*2&3#8*#(//#)"*'+&"*#0"4#.1@$/2&3'/(/%'#8*# 56"**")*"'"&/"*(4"# ;1(&4# 4"0# '+0# 3"&+037//# 18'F# +,-# '$*26F2&18*&2&39# G6# :/(/'$+&/+*"/'# %/68*4"*2&3# .*7&# MOOJ# .*(037*# (//#(&4"1"&# &@(&18&4(# .1@$/2&3(*# '+0# 4"1/(*# 2# 18'F# +,-# '$*262&18*&2&3#MOOLVON#6(*#IY#)*+,"&/#=80.5*/#0"4#T#)*+,"&/#.5*#56*23(#&@;5*=(*"9IO##

Tabell 5.4 Andel deltagare i läs- och skrivinlärning som kvarstår i sfi efter ett visst antal år, fördelat på första studieväg i sfi (deltagare som påbörjade sfi läsår 2003/04)

Kvarstår i sfi efter antal år (%) Första studieväg

Alla som påbörjar sfi läsåret 2003/04

Ett år Två år Tre år Fyra år

1 24 24 18 4 0 2 13 11 7 2 0 3 2 2 1 0 0 Totalt 9 11 9 2 0

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

#A./"*#.@*(#7*#2#'.2#4+02&"*(*#4"1/(3(*"#0"4#(*(;2'$(<#'+0(12'$(<#$%*4F2'$(#"11"*#/-(218&4'$(#'+0#0+4"*'071#Q/(;"11#X9XR9#!"''(#.@*(#3*%))"*#%/3=+*4"# 4*@3/# -81./"&# QXL# )*+,"&/R# (6# 4"0# '+0# .(&&'# $6(*# 2# '.2#"./"*# .@*(# 7*9#G6# '(0/123(# &@;5*=(*"# %))32,$# 4"''(# 3*%))"*# /211# LM#)*+,"&/#(6#4"1/(3(*&(9##

###############################################################################################################################################################IO#:/(/'$+&/+*"/#QMOOJR9#:$+16"*$"/'#*"32'/"*#.5*#'.2#%/35*#%&4"*1(3#.5*#*"4+62'&2&3"&9#

"E:#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

Tabell 5.5 Andel deltagare som kvarstår i sfi efter ett visst antal år, fördelat efter modersmål (deltagare som påbörjade sfi läsår 2003/04)

Kvarstår i sfi efter antal år (%)

Modersmål Alla som påbörjar sfi läsåret 2003/04 Ett år Två år Tre år Fyra år

Arabiska 16.0 19.4 21.9 23.2 23.4 Bosniska/Kroatiska/ Serbiska 6.7 5.6 4.7 3.8 2.8 Engelska 7.5 3.9 2.9 2.1 1.9 Nord- o Sydkurdiska 5.3 7.1 8.6 10.1 10.4 Persiska 3.5 3.8 3.5 3.4 3.6 Ryska 4.5 3.3 2.2 1.9 1.9 Somaliska 3.7 5.1 6.4 7.4 9.5 Spanska 6.4 6.1 5.4 5.4 5.1 Thailändska 6.6 8.9 9.1 9.1 9.3 Turkiska 3.9 4.6 4.6 4.9 4.6 Övriga 35.7 32.1 30.4 28.6 27.3 Totalt 100 100 100 100 100

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

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`1(&4#4"0#'+0#(6'1%/(4"# '2&(# '/%42"*# %&4"*# 4"/# (&4*(# '/%42"7*"/# 6(*#0+/'6(*(&4"#/(1#XM#4(3(*9#!"1/(3(*"#'+0#(6'1%/(4"#'2&(#'/%42"*#%&4"*#4"/#/*"4="#'/%42"7*"/# -(4"# 2# 3"&+0'&2//# 3=+*/# 4*@3/# "//# -(16/# 7*'# %))"-711# 2#'/%42"*&(9##

###############################################################################################################################################################II#B&4"*1(3"/# /211# 4"//(# (6'&2//# ;('"*('# )7# :/(/'$+&/+*"/'# SZ# MOIO# :/%42"(6;*+//# 2# '.2<# 4&*#MOOTVNXFX9##

"E"#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

Tabell 5.6 Genomsnittlig studietid i sfi antal dagar fördelat på intervall för bruttotid (endast deltagare som påbörjade sfi läsår 2003/2004)

Bruttotid, antal dagar 0–1 år 1–2 år 2–3 år 3–4 år 4– år Totalt

Bruttotid Genomsnitt 179 528 906 1 273 1 616 588

Studieuppehåll Genomsnitt 6 52 188 394 632 133 Nettotid Genomsnitt 173 475 718 879 984 455 Nettotidens andel av bruttotid (%) 98 91 80 69 61 88

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

##:/%42"%))"-711# 8*# 4"/# '(00(&1(34(# (&/(1"/# 4(3(*# .5*# 4"# %))"-711#'+0#-%6%408&&"&#*())+*/"*(/9#!"/#.2&&'#"&#62''#%&4"*'$(//&2&3#2#4"''(#%))32./"*9#\0#"&#4"1/(3(*"#3=+*/# .1"*(#(6;*+//#%&4"*# '(00(#/"*02&#*())+*/"*('#&80123"&#"&4('/#4"/#'"&('/"#(6;*+//"/9###

B&3".8*# IL# )*+,"&/# (6# 4"1/(3(*&(# -(4"# 3=+*/# 0"*# 8&# "//# 7*'#%))"-711# 2# '/%42"*&(9#d&3*"#$62&&+*# 8*# '/(*$/# 56"**")*"'"&/"*(4"# 2#4"&&(#3*%))<#621$"/#/@4"*#)7#(//#'/%42"%))"-711"/# 2#07&3(#.(11#83"*#*%0#2#'(0;(&4#0"4#-(6(&4"'$()#+,-#.5*814*(1"423-"/9#?*7&6(*+#)7#3*%&4# (6# +$8&4# (&1"4&2&3# "11"*# 3*(6242/"/V.5*814*(1"423-"/# '6(*(*# .5*#4"# -53'/(# (&4"1(*&(# 2# :$+16"*$"/'# '/(/2'/2$# 56"*# (6;*+//'+*'($"*# .5*#4"1/(3(*"#2#'.2#0"4#;*%//+/24"*#'+0#56"*'/23"*#/67#7*9#`1(&4#$62&&123(#4"1/(3(*"# 0"4# (*(;2'$(<# $%*42'$(# "11"*# '+0(12'$(# '+0# 0+4"*'071#-(4"#%&3".8*#6(*#.=8*4"#3=+*/#02&'/#"//#7*'#%))"-711#2#'/%42"*&(9IM#

A&# 2&/*"''(&/# .*73(# 8*# 2# 621$"&# %/'/*8,$&2&3# 18&3*"# '/%42"/24#+0'8//'#2#.8*423-"/"*#2#'6"&'$(9#!"/#.2&&'#4+,$#2&3"/#42*"$/#07//#)7#.8*423-"/"&#2#'6"&'$(<#48*"0+/#.2&&'#4"/#&+/"*2&3(*#+0#&8*#"&#4"1F/(3(*"#%))&7//#3+4$8&/#)7#&73+&#(6#4"# .@*(#$%*'&267"*&(#G<#`<#c#+,-#!9#\0#0(&#(&68&4"*#'23#(6#(&/(1"/#i3+4$8&4iF&+/"*2&3(*#$(&#0(&#.7#"//#07//#)7#-%*#4"/#'"*#%/#.5*#4"1/(3(*"#)7#+12$(#'/%42"683(*#+,-#2#+12$(#.('"*#(6#'/%42"/24"&9#

Z"4# (&/(1"/# i3+4$8&4iF&+/"*2&3(*# )"*# 4(3<# %/'1(3"/# )7# 4"# 4"1F/(3(*"#'+0#.+*/.(*(&4"#'/%4"*(*#+,-#2&/"#8*#.*7&6(*(&4"#$(&#0(&#.7#"//#07//#'+0#62'(*#-%*#07&3(#(6#4"#4"1/(3(*"#'+0#8*#$6(*#2#'/%42"*#

###############################################################################################################################################################IM#:/(/'$+&/+*"/#QMOIOR#SZ#!)702.*39'"))$2$(%25$

"E9#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

##############################################################################################################################################################

"//# 62''/# (&/(1# 4(3(*# "./"*# '/%42"'/(*/# '+0# (6'1%/(*# "&# $%*'# 0"4#i3+4$8&/i9#IL#

Diagram 5.12 Antal ’”godkänd”’-noteringar per dag och 1 000 deltagare, efter första studieväg

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

1.8

0 1 2 3

År

4

Studieväg

Studieväg

Studieväg 2

!"##$& !-/-.'(3-(,+-.%6+/,6+-3034%/*%!'()*+,'+-.%.-/-0.-0'$%

##!2(3*(00"/# X9IM# 62'(*# )7# /67# /@4123(#05&'/"*9# ?5*# 4"/# .5*'/(# (//#.*"$6"&'"&# i3+4$8&4iF&+/"*2&3(*# 2&1"4&2&3'62'# 5$(*# '&(;;/# +,-#$%102&"*(*#"./"*#+0$*2&3#II^IM#07&(4"*<#.5*#(//#48*"./"*#(6/(#+,-#)1(&(#%/#+,-#62'(#"&#5$(&4"#/"&4"&'#"./"*#M^M<X#7*9#?5*#4"/#(&4*(#62'(*#4"/#(//#.*"$6"&'"&#i3+4$8&4i#)"*#4(3#8*#4%;;"1/#'7#-53#)7#'/%42"683#L#'+0# )7# '/%42"683# I# +,-# (6'"68*/# -53*"# 8&# )7# '/%42"683# M9# !"//(#211%'/*"*(*# 4"&# '$211&(4# 2# '/%42".5*%/'8//&2&3(*# +,-# '/%42"/($/# '+0#2&4"1&2&3"&# 2# '/%42"683(*# (6'"*# (//# -(&/"*(9# !"/# $(&# &(/%*123/62'#86"&#'83(#&73+/#+0#4"&#"&'$214"'#0+/26(/2+&9##

A//# (&&(/#07//# 8*# 4"/# (&/(1# i3+4$8&4iF&+/"*2&3(*# '+0# "&# 4"1F/(3(*"# %))&7//# 624# '/%42"/24"&'# '1%/# Q42(3*(0# X9ILR9# a%*# 07&3(#$%*'&267"*# "&# 4"1/(3(*"# -(*# 05=123-"/# (//# (66"*$(# 6(*2"*(*# 0"11(&#'/%42"683(*&(<#/*"#"11"*#.@*(#&267"*#.5*#4"1/(3(*"#)7#'/%42"683#I<#/67#"11"*#/*"#)7#'/%42"683#M#+,-#"&#"11"*#/67#)7#'/%42"683#L9#

#IL#>+/"*2&3(*#35*'# "&4('/#6(*4(3(*#0"4(&#%))32./"*&(# 2#42(3*(00"/#8*#%/'1(3&(#)7#6",$(&'#(11(# 4(3(*9# ?5*# (//# .7# "//# *8//62'(&4"#07//# 2# (;'+1%/(# /"*0"*# ;5*# %))32./"*&(# 2# 42(3*(00"/#'$*26('#%))#0"4# KVX9#Z"&# 2# 4"/# -8*# '(00(&-(&3"/# 8*#4"/# *"1(/2+&"&#0"11(&# '/%42"683#+,-#%/6",$12&3"&#56"*#/24#'+0#8*#4"&#2&/*"''(&/(9#

"EH#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

[# %&4"*1(3"/# /211# 4"# %))32./"*# '+0# 7/"*3"'# 2# 42(3*(00"/# 2&37*#86"&#4"#4"1/(3(*"#'+0#'1%/(*#'.2#%/(&#(//#-(#.%11.51=/#&73+&#$%*'#/211#i3+4$8&4i<#621$"/#4*(*#&"*#3"&+0'&2//"/9#!"&#'/%42"/24#'+0#(&3"'#2#42(3*(00"/#8*#&"//+/24<#"6"&/%"11(#'/%42"%))"-711#2&37*#(11/'7#2&/"9#

Diagram 5.13 Genomsnittligt antal ”godkända-noteringar” vid studietidens slut, efter nettotid och första studieväg

0

1

2

3

4

5

6

0 1 2 3 4

År

Ant

al G

odkä

nda-

note

ring

ar p

er d

ag o

ch

1000

ele

ver

Studieväg

3

Studieväg

1

Studieväg 2

!"##$& Statskontorets bearbetning av Skolverkets statistik.

##H/"*23"&#$(&#0(&#&+/"*(#(//#4"1/(3(*"#)7#'/%42"683#L#2&1"4&2&3'62'#5$(*#(&/(1"/#i3+4$8&4iF&+/"*2&3(*#2#'&(;;(*"#/($/#8&#4"1/(3(*&(#)7#4"#/67#56*23(#'/%42"683(*&(9#G&/(1"/#&+/"*2&3(*#)1(&(*#%/#"./"*#"//#7*#+,-#)(''"*('#(6#&+/"*2&3(*&(#.5*#'/%42"683#I#+,-#M9#?5*#$%*'&267#L#8*# (&/(1"/# 3+4$8&4(# '+0# ;12*# $6(*# /211# -53'/(# $%*'&267# ;"3*8&'(/9#Z(&#$(&#+,$'7#&+/"*(#(//#$%*6(&#.5*#'/%42"683#L<#0"&#2#62''#07&#86"&#.5*#'/%42"683#M<#;5="*#(6#&"47/#"./"*#4*@3/#M<X#7*9#!"#4"1/(3(*"#'+0#8*#$6(*#"./"*#4"&#/24"&#&7*#(11/'7#3+4$8&4#&267#2#02&4*"#%/'/*8,$&2&3#8&#56*23(#4"1/(3(*"9#!"//(#7/"*')"31(*#05=123"&#(//#-8*#.2&&'#"&#'"1"$F/2+&#(6#4"1/(3(*"#'+0#2&&";8*#(//#4"/#56"*#/24"&#;12*#"&#5$(4#(&4"1#4"1/(3(*"# '+0# -(*# 4"/# '67*(*"# "11"*# 8*# 02&4*"# 2&/*"''"*(4"# (6# (//#/21183&(# '23# '6"&'$(# ')*7$"/9#Z"&#4"//(#05&'/"*#3811"*# 2&/"# '/%42"F&267#I<#48*#4"#4"1/(3(*"#'+0#8*#$6(*#2#'/%42"*#56"*#/24#.+*/'8//"*#(//#2#'6(3# /($/# 5$(# 4"/# 3"&+0'&2//123(# (&/(1"/# i3+4$8&4iF&+/"*2&3(*9#

"E##

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

# "./"*# .1"*(# 7*# "//# 62''/# (,$%0%1F"*(&4"#(6#.8*423-"/"*#2#'6"&'$(9#

$=E G+!*541A.'!3K0)!G*)-M&!!

6243(/# 67*(# $%&'$()"*# 3"&+0#'/%

#0"4#6(4#62#/(32/#4"1#(6#624#67*(#'/%42";"'5$#2#>+*3"#+,-#!(&0(*$9#

_6"&# 2# 4"&&(# 3*%))# $(&# 4"/# &(/%*123/62'# .2&&('# "&# '"1"$/2+&# 56"*#/24"&#(6#4"1/(3(*"#0"4#;*2'/(&4"#.5*073(#"11"*#"&3(3"0(&39#Z"&#2#3*%))"&# '+0# -"1-"/# 5$(*# (11/'7# (&/(1"/# (6$1(*(4"# $%*'"*9# B))"&F;(*123"&# 2&&";8*# '/%42"*&(# 86"&

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

42";"'5$#2#>+*3"#+,-#!(&0(*$9#C2#;5*=(*#4"//(#(6'&2//#0"4#(//#*"4+62'(#6(4#'+0#$+002/#.*(0#2#

"&$8/"&# /211# ABF18&4"*&(# &8*# 4"/# 3811"*# ')*7$$*(6<# *8//23-"/"*# +,-#'$@1423-"/"*#'(0/#.5*"$+0'/"&#(6#/24';"3*8&'&2&39#C2#(6'1%/(*

$=E=" 6M)L'')&K!'-MM1&,0!5A11!A+K&+,)A+(@)0(10)+&!

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h\W'#+,-#12$&(&4"#($/5*"*#.5*#(//#.7# %&4"*62'&2&39# [#0"*)(*/"&# (6# 18&4"*&(# .2&(&'2"*(*# '/(/"&# ')*7$F

"E$#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

+12$(#.+*

$(#'$"# 2#%*')*%&3'1(&4"/<#46'9# 2&&(&#%))"F-711'/211'/7&4#%/.8*4('9##

$=E=9 UD55A(/05!-./!@'O1,A(/05!&55!1D)&!@A(!@M)L'05!

9# :7# 8*# /9"P9# .(11"/# 2#U%08&2"&<#`"132"&#Q?

*2'/(&4"# ')*7$$%&'$()"*# $(&# 86"&#+0

#.5*#4"0#'+0

/*($/# 2&&";8*# +;123(/+*2'$# &8*6(*+# 624# ')*7$%&4"*62'F&2&

$%*'"*&(<#0"&#2&/"#2#(11(9#!7#.7*#4"1/(3(*&(#;"$+'/(#'2&(#'/%42"*#)7#"3"&#-(&49#!"/#.5*"$+00"*#+,$'7#(//#$%*'"*&(#.2&(&'2"*('#(6#ABF0"4"19# a%*%624(# 4"/# 35*'# %&4(&/(3# .5*# )"*'+&"*# '+0# -(*#

0"*#(6#2&18*&2&3''67*23-"/"*#.*(0$+00"*#2&/"#(6#"&$8/"&9#[# 62''(# 18&4"*# ;"/+&('# 68*4"/# (6# (//# -(# ')*7$$%&'$()"*# *"4(&#

2&&(&#(&$+0'/"&#/211#1(&4"/9#?5*#07&3(#2&6(&4*(*"#2#:/+*;*2/(&&2"&#3811"*#/9"P9#(//#4"#*"4(&#.5*#(//#.7#62'%0#07'/"#62'(#(//#4"#-(*#62''(#$%&'$()"*# 2# 4"/# "&3"1'$(# ')*7$"/9#C21$"&#&267# '+0#$*86'# ;"*+*# )7#621$"&# $(/"3+*2# )"*'+&"&# /211-5*# 2# 4"/# )+8&3;('"*(4"# '@'/"0# '+0#:/+*;*2/(&&2"&# /21180)(*# .5*# 2&6(&4*2&39# [# ?*(&$*2$"# /(*# &@# 1(3F'/2./&2&3#+0#.(021="7/"*.5*"&2&3#'2$/"#)7#(//#')*7$/"'/#+,-#"6"&/%"11#%&4"*62'&2&3#2#.*(&'$(#'

[#"//# .1"*/(1# 18&4"*# 2&+0#AB#.2&&'#"&# 1(3'/(43(4#*8//# (//#4"1/(# 2# "&#')*7$$%*'9# C2''(# (0;(''(4"*# -(*# %))3"//# (//# ABF0"4;+*3(*"# 8*#"P$1%4"*(4"# .*7&#4"&&(# *8//1(&4"*&R#+,-#:1+6"&2"&9##!"&# 1(3'/(43(4"# *8//"&#$+0;2&"*('# 86"&# 2#62''(# .(11<#+,-# 2#6(*2F

"*(&4"#3*(4<#0"4# "&#%//(1(4# '$@1423-"/# .5*#4"&# "&'$214"# (//# 4"1/(9#U8//23-"/"&# +0.(//(*# 2# *"3"1# "&# ;*"4(*"# $(/"3+*2# 2&6(&4*(*"# 8&#'$@1423-"/"&<# '+0# +./('/# 3811"*# ')",2.2$/# .5*# &@(&18&4(# .1@$/2&3(*#'+0#.5*68&/('#4"1/(#2#"//#2&/*+4%$/2+&')*+3*(09#S"*'+&"*#'+0#2&/"#$(&# .5*'5*=(# '23# /211# .51=4# (6# ;

.(//('#(6#4"&&(#'$@1423-"/9##[#]@'$1(&4#-(*# /9"P9# 62''(# 3*%))"*# (6# 2&6(&4*(*"# *8//# (//# 4"1/(# 2#

'9$9# 2&/"3*(/2+&'$%*'"*<# '+0# -%6%4'($123"&# ;"'/7*# (6# ')*7$%&4"*F62'&2&39#?5*# 2&6(&4*(*"# '+0# 8*# ;"*8//23(4"# /211#0+/'6(*23-"/"&# /211#.5*'5*=&2&3''/54#8*#4"/#4+,$#"&#'$@1423-"/9#!"/#3811"*#86"&

#2&/"#$(&#35*(#'23#.5*'/744(#)7#/@'$(#56"*-%6%4/(3"/9#[# ?*(&$*2$"# $+00"*# *8//"&# +,-# '$@1423-"/"&# /211# %//*@,$# 2# "//#

+;123(/+*2'$/#2&/"3*(/2+&'$+&/*($/#'+0#15)"*#%&4"*#"//#7*9#_*#&267&#2#4"/#.*(&'$(#')*7$"/#2&/"#/211*8,$123#.5*;2&4"*#'23#)"*'+&"&#'+0#-(*#2&6(&4*(/# (//# 4"1/(# 2# "&# .*(&'$$%*'9# G//# '$*26(# %&4"*# "//# 2&/"3*(F/2+&'$+&

3"&9##[# e'/"**2$"# /21180)('# /@4123(# '9$9# '$@1423-"/'*"31"*9# H*# MOOY#

2&.5*4"'#&@(# 2&/"3*(/2+&';"'/800"1'"*#'+0# 2&&";8*#(//#"&# 2&6(&4*(4#

"EB#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

/#(6#%))"-711'/211'/7&4"/#-(#/21183&(/#'23

"&# )"*'+&# '+0# '/7*# 2# ;"3*"))# (//#2&/

# (6# "&# ;*"4(*"# '/*(/"32# .5*# 6%P"&%/;214&2&3<#$(

*"$+00"*#(//# ')*7$$%*'"*# 2# '7# .(11# "*;=%4'# (6#'/(/"&<#0"&#2&/"#(11/249##

$=E=H V3)0'-?@50+!&K!5A,@40()D+@+A+(!

+62'('# 4"# '6(*# '+0# 2&$+002/# '+0# *5*# '=816(#/24';"3*8&'&2&3"&9#

)"*'+&#'+0#5&'$(*#;+'8//(#'23#2#e'/"**2$"#)"*0(&"&/<#.5*)12$/23(*#'23#(//#2&+0#."0#7*#"./"*#;"621=(&4"#(4"$6(/(#$%&'$()"*#2#/@'$(9#[;1(&4# .5*"37'# *8//"&#+,-# '$@1423-"/"&# (//#4"1/(# 2# "&# ')*7$$%*'#

(6#"&#;"450&2&3#(6#+0#')*7$$%*'"&#$+00"*#(//#$%&&(#%&4"*18//(#2&/*84"/# )7# (*;"/'0(*$&(4"&# "11"*# 2&/"9# [# ?2&1(&4# /9"P9# 8*# 4"/# 4"&#1+$(1(# (*;"/'.5*0"412&3"&# '+0# 35*# ;"450&2&3"&# +0# "&# 2&/"3*(F/2+&')1(&# 8*# *8//# -=81)0"4"1# .5*#"3*"*('#)7#(*;"/'0(*$&(4"&9##[#"//#02&4*"#(&/(1#18&4"*#.2&&'#6(*"#'23#&73+&#1(3'/(43(4#*8//23F

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

.5*#4"&#"&'$214"#(//#.7#%&4"*62'&2&3#2# 1(&4"/#')*7$#"11"*#'$@1423-"/#

.5*# 1(&4"/# (//# 3"# '74(&# %&4"*62'&2&3<# $*86'# (//# 0(&# 8&47# '$(# -(#$1(*(/#"//#')*7$/"'/#624#(&'5$(&#+0#)"*0(&"&/#%))"-711'/211'/7&4#"11"*#0"4;+*3(*'$()9#!"/# .5

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

"EE#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

E7:,*'2./W# [&6(&4*(*"# 2# `%13(*2"&# -(*# *8//# (//# 4"1/(# 2# %&4"*F62'&2&3# 2# ;%13(*2'$(9# U8//23-"/"&# 3811"*# .5*# ('@1'5$(&4"# +,-# )"*F'+&"*#'+0#;"621=(/'#('@19#:)*7$$%*'"*&(#)737*#2#Y^T#07&(4"*9#

-*/#*'=F#U8//"&#/211#%&4"*62'&2&3#2#4(&'$(#3811"*#2#%))#/211#/*"#7*#.*7&#+,-#0"4#4"/#(//#"&#)"*'+&#.5*'/(#37&3"&#"*;=%42/'#(//#4"1/(#2#"&#$%*'9#]24"&#$(&#.5*18&3('9#

C():*/0W# ?5*# 6%P&(# '+0# 2&/"# /(1(*# "'/&2'$(# "*;=%4'# $%*'"*# 2#"'/&2'$(9#A&#)"*'+&# '+0#8*# 2# (*;"/'.5*# 714"*#$(&# 86"&#"*;=%4('# "&#"P/*($%*'#2&+0#4"/#+*42&(*2"#%/;214&2&3''@'/"0"/#'+0#15)"*#%&4"*#0(P#/*"#7*9#

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

B'*/='2=.W# :/(/"&# "*;=%4"*# %))# /211# NOO# /200(*# 3*(/2'# ')*7$F%&4"*62'&2&39# !"''(# '$(# /('# %/# 2&+0# /24"&# .5*# 2&/"3*(/2+&'F$+&/*($/"/#'+0#15)"*#%&4"*#"//#7*9#]24"&#$(&#.5*18&3('#0"4#0(P2F0(1/#IM#07&(4"*9#

G(:*/0W#?5*# (//# ;"621=('#)"*0(&"&/#%))"-711'/211'/7&4#07'/"#4"&#'5$(&4"# 3"&+037# "&# ')*7$$%*'# +0# /+/(1/# IXO# /200(*9# !"/# .2&&'#2&3"&#.('/'/8114#/24'3*8&'#%/(&#4"&#(635*'#.*7&#.(11#/211#.(119#!"&#6(&F123('/"#3*8&'"&#8*#NOO^XOO#%&4"*62'&2&3'/200(*9#

H.0.':>/0.'/*W# a%6%4*"3"1&# 8*# (//# (11(# 2,$"# ABF0"4;+*3(*"#07'/"#$1(*(#"//#/"'/#.5*#(//#;"621=('#%))"-711'/211'/7&49#>8*#0(&#.7//#%))"-711'/211'/7&4# 07'/"# 4"# '+0# +0.(//('# (6# 2&/"3*(/2+&'2&'(/'"*#3"&+037#'74(&(#2&'(/'"*#%&4"*#'(00(&1(3/#L<X#7*9##

I":./W#?5*#)"*'+&"*# '+0#"*-7112/# '/(/%'# '+0# .1@$/2&3# "11"*# '+0#'%;'2428*/# '$@44';"-56(&4"# 2&37*# ')*7$%&4"*62'&2&3# 2# "&# "//7*23#2&/*+4%$/2+&'$%*'#'+0#8*#+;123(/+*2'$#i&8*#;"-+6#.5*"1233"*i9#

J7#>/2./W# :/%42")"*2+4"&# 8*# ;"3*8&'(4# /211# "//# 7*# +,-# +0.(//F&2&3"&#)7#'/%42"*&(#8*#.@*(#/200(*#2#6",$(&9#

!:"3./2./W#A&#20023*(&/#+,-#4"&&"'#.(021="0"41"00(*#'+0#-(*#%))"-711'/211'/7&4#2#:1+6"&2"&#-(*#*8//#/211#0(P20(1/#ITO#/200(*#')*7$F%&4"*62'&2&39#A&#20023*(&/#'(0/#4"&&"'#.(021="0"41"00(*#'+0#-(*#/"0)+*8*/#%))"-711'/211'/7&4#-(*# *8//# /211#0(P20(1/# YO# /200(*# ')*7$F

"EF#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

%&4"*62'&2&39# !"&# '+0# '"&(*"# ;"621=('# )"*0(&"&/# %))"-711'F/211'/7&4#-(*#*8//#/211#@//"*123(*"#IMO#/200(*9#

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

</,.'/W#!"/# .2&&'#"&# 1(3'/(43(4# *8//# /211# ')*7$%&4"*62'&2&3# .5*#('@1'5$(&4"#'+0#+0.(//(*#XMO#/200(*#%&4"*#"&#)"*2+4#+0#MN#07&F(4"*9#

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

$=E=# GT0?M105!N-)(0!

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

[#>+*3"#;"621=('#0(&# 2&1"4&2&3'62'# 2# *"3"1#"//# /24';"3*8&'(/#%))"F-711'/211'/7&49#!"&#$(/"3+*2#'+0#+0.(//('#(6#2&/*+4%$/2+&'2&'(/'"*#-(*#"&#*8//#+,-#"&#)12$/#^#"11"*#"&#*8//#%/(&#)12$/#^#(//#18'(#&+*'$(9#S12$/"&#2&&";8*#(//#0(&#07'/"#-(#$1(*(/#(6#LOO#/200(*#&+*'$%&4"*62'&2&3#.5*# (//# ;12# ;"621=(4# )"*0(&"&/# %))"-711'/211'/7&4<# 6(*(6# XO# /200(*#

"E<#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

%/35*'# (6# '(0-811'2&.+*0(/2+&9#H*#MOOJ# .5*"'1+3'# (//# (&/(1"/# /200(*#'$%11"#%/6243('#/211#'(00(&1(3/#YOO#/200(*9##

!"#'+0#+0.(//('#(6#"&#)12$/#(//#18'(#&+*'$(#07'/"#35*(#4"/#2&+0#4"#/*"#.5*'/(#7*"&9#[#4(3'183"/#.2&&'#2&3(#$%&'$()'$*(6#$+))1(4"#/211#4"&&(#)12$/9# S12$/"&# +0.(//(*# 3"&"*"11/# )"*'+&"*# 2# 714"*&# IY^XX# 7*#0"&# "&# )"*'+&# '+0# 2&/"# $(&# /2113+4+35*(# '23# %&4"*62'&2&3"&# (6#-81'+'$81#8*#%&4(&/(3"&#.*7&#4"&&(#)12$/9#!"#'+0#8*#814*"#8&#XX#7*#Q+,-# %))# /211# YK# 7*R# +,-# 2&/"# -(*# &73+&# )12$/# (//# 18*(# '23# &+*'$(<#+0.(//('#"0"11"*/24#(6#*8//"&#(//#.7#18*(#'23#&+*'$(9#

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

B/56"*#)12$/"&#)7#LOO#/200(*#.2&&'#05=123-"/#(//#624#;"-+6#18'(#@//"*123(*"#%))#/211#0(P#L#OOO#/200(*#%&4"*#"&#."07*')"*2+49#A./"*#."0#7*#%))-5*#4+,$#05=123-"/"&#(//#.7#3*(/2'#%&4"*62'&2&39#!"#'+0#7/"*$+00"*#"./"*# ."0#7*#8*#-8&62'(4"# /211#4"&#3*%&41833(&4"#6%P"&F%/;214&2&3"&<#'+0#8*#3*(/2'<#0"&#0(&#.7*#+./(#/(#17&#.5*#(//#.5*'5*=(#'239#[#62''(#.(11#8*#4"/#05=123/#(//#.7#'/%42"17&#2#.+*0#(6#'/2)"&42%09##

i>@#'=(&'"i#8*#"//# '/(/123/# .2&(&'2"*(/#)*+="$/# 2# .1"*(#$+00%&"*#'+0#*2$/(*# '23# /211# 2&6(&4*(*"# '+0#-(*# .7//# '+,2(1;24*(3#%&4"*# .1"*(#7*'#/24#)7#3*%&4#(6#;*2'/(&4"#(&$&@/&2&3#/211#(*;"/'0(*$&(4"&9##

[&/*+4%$/2+&'1(3"&'#*8//#+,-#)12$/#(//#18*(#'23#&+*'$(#3811"*#)"*F'+&"*#'+0#-(*#.7//#'2//#.5*'/(#%))"-711'/211'/7&4#"./"*#4"&#I#'")/"0;"*#MOOX9# !"# '+0# -(*# .7//# %))"-711'/211'/7&4# .5*"# 4"//(# 4(/%0# "*;=%4'#3*(/2'# &+*'$%&4"*62'&2&3# 3"&+0# '8*'$214(# 56"*37&3';"'/800"1'"*#'+0#.2&(&'2"*('#(6#'/(/"&9#e6"*37&3';"'/800"1'"*&(#%))-5*4"#4"&#I# '")/"0;"*# MOIO# +,-# "./"*# 4"//(# 4(/%0# 07'/"# (11(# '+0# 6(*2/# 2#>+*3"#2#0"*#8&#."0#7*#;"/(1(#.5*#%&4"*62'&2&3"&#'=816(9#!"#18*(*"#62#05//# -(*# )7/(1(/# (//# 4"/# +./(# .2&&'# '/+*(# '$211&(4"*# 2# 0+/26(/2+&#0"11(&#4"#'+0#37*#)7#"&#3*(/2'#')*7$$%*'#+,-#4"#'+0#;"/(1(*#'=816(9#!"&#'"&(*"#3*%))"&#8*#0"*#0+/26"*(4#+,-#6211#38*&(#;12#.8*423#0"4#'2&#$%*'#'7#'&(*/#'+0#05=123/9##

B&4"*62'&2&3"&#8*#+*3(&2'"*(4#2#/*"#+12$(#')7*j#IR#4"#'+0#-(*#"&#$+*/#%/;214&2&3#"11"*#2&3"&#%/;214&2&3#(11'<#MR#173%/;214(4"#+,-#LR#4"#'+0#-(*#-53#%/;214&2&39#D+00%&"*&(#8*#'$@1423(#(//#"*;=%4(#>B9#

"F:#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

S*26(/(#(&+*4&(*"#8*#/80123"&#+6(&123/# 2#>+*3"9#H*#MOOK#-(4"#.@*(#)*+,"&/# (6# $+00%&"*&(# -(&41(/# %))# &+*'$%))18*&2&3# .*7&# "&#)*26(/# ($/5*<# 6(*(6# 0"*)(*/"&# (6# 4"''(# %/3=+*4"'# (6# '/5**"# $+0F0%&"*9# A./"*'+0# 4"/# .2&&'#07&3(# '07# $+00%&"*# 2#>+*3"# 8*# '(0F(*;"/"#&5468&423/9#E7&3(#(6'/7&4#/211#%/;214&2&3'(&+*4&(*"#8*#+./(#"//#)*+;1"09#B/68*4"*2&3(*# -(*# 62'(/# (//# 4"/# 8*# "$+&+02'$/# '67*/# .5*#02&4*"# $+00%&"*# (//# $%&&(# "*;=%4(# &+*'$%&4"*62'&2&3#0"4# ;*(#$6(12/"/9##

A//# (&&(/# )*+;1"0# 8*# (//# '(0-811'+*2"&/"*2&3# +./(# '($&('# )7#0+4"*'071"/<# 621$"/# -(*# 1"//# /211# (//#0(&# 2# '/811"/# .5*1833"*# 4"//(# 2#'1%/"/#(6#&+*'$%&4"*62'&2&3"&#^#+,-#)7#&+*'$(9#

U"4+62'&2&3# (6# *"'%1/(/"/# '7# -8*# 17&3/# 62'(*# (//# .1"*# 4"1/(3(*"#(6'1%/(*#>B#"./"*# 2&.5*(&4"/#(6#4"#&@(#*"31"*&(#+,-#(//#.1"*#$1(*(*#'1%/)*+6"&9#?5*4"1(*#0"4#4"&#&@(#+*4&2&3"&#;"'$*26'#'(00(&/(3"/#6(*(# (//# %/;214&2&3"&# ;1262/# 0"*# ".."$/26# +,-# 02&4*"# $+'/&(4'F4*26(&4"9##

G$/262/"/"*#2#.+*0#(6#(&/(1#3"&+0.5*4(#%&4"*62'&2&3'/200(*#6(*#/2423(*"# %/37&3')%&$/"&# .5*# '/(/"&'# "*'8//&2&3# /211# $+00%&"*&(9#>%#8*#.2&(&'2"*2&3"&#0"*#*(0;('"*(49#?2&(&'2"*2&3"&#;"'/7*#(6#/*"#4"1(*W#"&#"*'8//&2&3#)"*#)"*'+&#'+0#2&37*# 2#0713*%))"&<#"&#"*'8//F&2&3# )"*# $+00%&# Q3*%&4"*'8//&2&3R# +,-# "&# "*'8//&2&3# '+0# 8*#$&%/"&# /211# %))62'(4"# *"'%1/(/# Q*"'%1/(/"*'8//&2&3R9# h*%&4"*'8//F&2&3"&#%/;"/(1('#2&/"#/211#4"#'/5*'/(#$+00%&"*&(9#D+00%&"*&(#.7*#+12$(#0@,$"/#"*'8//&2&3#;"*+"&4"#)7#6(*2.*7&#)"*'+&"*&(#$+00"*9#A*'8//&2&3"&# 8*# 183*"# .5*# )"*'+&"*# '+0# $+00"*# .*7&# B:G# "11"*#>@(#k""1(&4# =80.5*/#0"4#)"*'+&"*# '+0#$+00"*# .*7&#3"+3*(.2'$/#+,-#$%1/%*"11/#0"*#(6183'&(#18&4"*9#g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

[#1(3"&#.2&&'#$*(6#)7#"//#&(/2+&"11/#2&/*+4%$/2+&'*"32'/"*#Q>[UR#'+0# .5*6(1/('# (6# [Z![# Q[&/"3*"*2&3'F# +3# 0(&3.+14'42*"$/+*(/"/R#48*#4"/#;19(9#*"32'/*"*('#6"0#'+0#-(*#*8//#+,-#)12$/#(//#4"1/(#2#&+*'$F%&4"*62'&2&3<# (&/(1# 4"1/(3(*"# .5*4"1(/# )7# $+00%&&267<# (&/(1"/#/200(*#4"1/(3(*"&#-(*#3"&+037//# '(0/# *"'%1/(/"&#)7#4"#&(/2+&"11(#)*+6"&9#U"32'/*"/#'@&12335*#%/6",$12&3"&# 2&+0#+0*74"/#+,-#%/35*#

"F"#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

##############################################################################################################################################################

"//# ;"'1%/'%&4"*1(3# )7# &(/2+&"11# &2679# U"32'/*"/# /+3'# 2# ;*%$# 4"&# I#'")/"0;"*# MOOX# +,-# $+00%&"*&(# 8*# '$@1423(# (//# *())+*/"*(# 2&#4"''(#%))32./"*9##

S7# 4"# '$+1+*# 62# ;"'5$/"# .(&&'# 05=123-"/"*# /211# .1"P2;"1# %&4"*F62'&2&3#)7#42'/(&'#.5*#4"&#'+0#.7//#(*;"/"#+,-#48*.5*#-(*#;"3*8&'(4#/24# (//# '/%4"*(9# `(*&)(''&2&3# +,-# %&4"*62'&2&3# $+0;2&"*(4"'#2;1(&49# B&4"*62'&2&3# 834"# 86"&# 2# 62''(# .(11# *%0# %/"# )7# (*;"/'F)1(/'"*&(#+,-#47#;"/(1(4"#(&/2&3"&#(*;"/'326(*"&#"11"*#$+00%&"&9#\0*74"&# 48*# %&4"*62'&2&3# -(*# .5*"$+002/# 8*# /9"P9# 2&+0# -81'+F+0*74"/# Q'=%$'$5/"*'$+*R<# -"0/=8&'/<# 1+$(167*4<# ;(*&+0'+*3# +,-#'1($/"*29# [# "&# (6# '$+1+*&(# '+0# 62# ;"'5$/"# (&68&4"#0(&# '23# (6# "&#')*7$)8*0#'+0#"//#6"*$/@3#.5*#;"450&2&3#(6#&8*#"&#4"1/(3(*"#'$(#(&'"'#6(*(#.8*423#0"4#'2&#$%*'9IN#

$=E=$ GT0?M105!Q&+?&)'!

E2$'+0#2#:6"*23"#;"'/+4#2&6(&4*2&3"&#/211#!(&0(*$#/211#'/5*'/(#4"1"&#(6# (*;"/'$*(./'2&6(&4*(*"# %&4"*# IJYOF# +,-# IJKOF/(1"/9# ?1@$/2&3F2&6(&4*2&3"&# 5$(4"# %&4"*# IJTOF# +,-# IJJOF/(1"/9# A./"*# MOOI# -(*#.1@$/2&32&6(&4*2&3"&#'/(423/#02&'$(/#+,-#(*;"/'$*(./'2&6(&4*2&3"&#7/"*23"&#5$(/9#C24(*"#-(*#(&/(1"/#)"*'+&"*#.*7&#ABVAA:#18&4"*#5$(/#%&4"*#MOOOF/(1"/9#B&4"*#'"&(*"#7*#-(*#86"&#(&/(1"/#'+0#'5$"*#'23#/211#!(&0(*$#.5*#(//#%/;214(#'23#5$(/9#:$2./"/#.*7&#.1@$/2&32&6(&4*2&3#/211#(*;"/'$*(./'2&6(&4*2&3# +,-# (&&(&# /@)# (6# 2&6(&4*2&3# -(*# 2&&";%*2/#(//#4"# .1"'/(# '+0#$+00"*# /211#!(&0(*$# 2#4(3# *"4(&#-(*#"//# (*;"/"#"11"*#8*#.5*'5*=4(#)7#(&&(/#'8//9#

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

#IN#lll9(11('2&&"&9'"V?*(0"'"/F:%33"'/9-/0#

"F9#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

$6811'/24# +,-# %&4"*62'&2&3'/24"&# *8$&('# 47# 2# 62''(# .(11# 2&# 2# /*"7*'F)"*2+4"&9##

!(&'$%&4"*62'&2&3"&#8*# "//#$+00%&(1/# (&'6(*#0"&#$(&#;"4*26('#(6#;74"#$+00%&(1(#+,-#)*26(/(#($/5*"*9#>8*#4"&#&@(#1(3"&# 2&.5*4"'#MOON#6(*#"&#(6#071'8//&2&3(*&(#(//#5$(#(&4"1"&#)*26(/(#($/5*"*9#S7#62''(#')*7$,"&/"*#.5*0"41('#86"&#)*($/2$)1(/'"*#+,-#(*;"/"#+,-#4"/#-8&4"*#86"&#(//#(&+*4&(*"&#%/.5*#(&4*(#2&/"3*(/2+&'2&'(/'"*#2#'(0F6"*$(&#0"4#$+00%&"&9#

B/;214&2&3'683#I#Q!(&'$%44(&&"1'"#IR#68&4"*#'23#/211#4"0#'+0#2&/"# $(&# 18'(# +,-# '$*26(# )7# '2//# "3"/# -"0')*7$# '(0/# /211# 4"0# '+0#2&/"#$(&#4"/# 1(/2&'$(#(1.(;"/"/9#Z71'8//&2&3"&#8*#(//#4"1/(3(*&(#'$(#$%&&(# .7# "//# (*;"/"# '+0#"&4('/#$*86"*# "&#$+*/(*"#%/;214&2&3# '(0/#(//#4"#'$(#$%&&(#6"*$(#'+0#($/26(#'(0-811'0"4;+*3(*"9#c2*$(#7//(#)*+,"&/#(6#'(0/123(#'+0#18'"*#4(&'$(#7/"*.(&&'#2#4"&&(#3*%))#MOOT9#G&4"1"&#-(*#02&'$(/#%&4"*#'"&(*"#7*9#

B/;214&2&3'683#M#Q!(&'$%44(&&"1'"#MR#8*#.5*#4"1/(3(*"#'+0#-(*#"&#$+*/(*"#%/;214&2&3#.*7&#-"01(&4"/9#Z71"/#.5*#4"&&(#3*%))#8*#(//#4"#'$(#.5*'/7#/211*8,$123/#0@,$"/#4(&'$(#.5*#(//#$%&&(#.%&3"*(#)7#"&#(*;"/')1(/'#+,-#2#6(*4(3"&9#B/;214&2&3'683#M#'$(#86"&#$6(12.2,"*(#.5*#624(*"#(*;"/'0(*$&(4'%/;214&2&3#2&+0#GZB9#!"1/(3(*&(#)7#4"&&(#%/;214&2&3'683# %/3=+*4"# ,2*$(# LT# )*+,"&/# (6# 4"/# /+/(1(# (&/(1"/#4"1/(3(*"#MOOT9##

B/;214&2&3'683#L#Q!(&'$%44(&&"1'"#LR#68&4"*#'23# /211#4"1/(3(*"#'+0#-(*# "&#0"4"117&3# "11"*# 17&3#%/;214&2&39#!"/# $(&# /9"P9# 6(*(# "&#3@0&('2"%/;214&2&3#"11"*#"&#-53*"#%/;214&2&39#]"0)+/#8*#-53*"#)7#4"&&(#$%*'#+,-#071'8//&2&3"&#8*#(//#4"#'+0#2&/"#-(*#"//#(*;"/"#'$(#$%&&(# .7#4"/# "11"*# '/%4"*(# 624(*"9#B&4"*#MOOT# .(&&'# ,2*$(#XL#)*+F,"&/# (6# 4"1/(3(*&(# 2# 4"&&(# 3*%))9#G&4"1"&# -(*# 5$(/# %&4"*# '"&(*"#/249##

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

!"1/(3(*"#0"4# '8*'$214(# %&4"*62'&2&3';"-+6# 3"'# 2# *"3"1# %&4"*F62'&2&3#2#02&4*"#3*%))"*#"11"*#.7*#"3"&#%&4"*62'&2&39#!"/#.2&&'#86"&#

"FH#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

"&# 1(3*"31"*(4# ')",2(1%&4"*62'&2&3# .5*# 6%P&(# '(0/# +12$(# /@)"*# (6#;"-(&412&3'2&'(/'"*#.5*#/*(%0(/2'"*(4"#)"*'+&"*9##

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

]2423(*"#6(*#')*7$%/;214&2&3"&#"&4('/#3*(/2'# .5*# .1@$/2&3(*#'+0#+0.(//(4"'# (6# 2&/"3*(/2+&'2&'(/'"*#+,-#56*23(# 2&6(&4*(*"# '+0# 2&/"#6(*# '=816.5*'5*=(&4"9# :)*7$%/;214&2&3"&# 8*# &%# 3*(/2'# .5*# (11(9# _6"&#3*8&')"&41(*"#-(*#2#4(3#*8//#/211#4(&'$%&4"*62'&2&3<#46'9#)"*'+&"*#'+0#(*;"/(*# 2#!(&0(*$#0"&#'+0#'/(4236(*(&4"#;+*# 2# "//# (&&(/# 1(&49#!"/#$(&#/9"P9#*5*(#'23#+0#'6"&'$(*<#/@'$(*#+,-#)+1(,$"*#'+0#;+*#$6(*#2#'2//#-"01(&4#'(0/2423/#'+0#4"#(*;"/(*#2#!(&0(*$9#

D+'/&(4"*&(#.5*#4(&'$%&4"*62'&2&3"&#%))32,$#MOOT#/211#,2*$(#KMO#021=+&"*#!DD#Q,2*$(#TTX#021=+&"*#:ADR9##

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

"F##

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

##############################################################################################################################################################

0(&"&/# %))"-711'/211'/7&4# 2&.5*/'# %&4"*# MOIO9#!"//(# )+8&3'@'/"0#2&;"3*2)"*#;1(&4#(&&(/#"//#')*7$F#+,-#$%&'$()'/"'/9#

$=E=B I&,!6K0)A(0!'&+!1D)&!&K!&+,)&!1D+,0)!W!0+!@*??0)A+(!

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

#IX#Z23*(/2+&'6"*$"/'#-"0'24(<#lll9023*(/2+&'6"*$"/9'"#

"F$#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

S7#'(00(#'8//#'+0#2#:6"*23"#35*#4"#18&4"*#'+0#-(*#+12$(#.+*0"*#(6# 2&/"3*(/2+&')*+3*(0#*2$/(4"#/211#62''(#&@(&18&4(#62''#'$211&(4#)7#4"0#'+0#+0.(//('#(6#'74(&(#2&/"3*(/2+&')*+3*(0#+,-#4"&#'+0#2&/"#35*# 4"/9#U8//23-"/"*<# +,-# .*(0.5*# (11/# '$@1423-"/"*<# $+))1('# )7# "//#/@4123/#'8//#/211#4"&#$(/"3+*2#'+0#+0.(//('#(6#2&/"3*(/2+&'2&'(/'"*9##

[#"//# .1"*/(1#(6# 18&4"*&(# 2&+0#AB#.2&&'#&73+&#.+*0#(6#*"31"*(4#/24';"3*8&'&2&39# !"/# -(&41(*# +0# "&# ;"3*8&'&2&3# 2# /200(*# "11"*# 2#/249#G//#;"3*8&'(#/24"&#.5*#-%*#18&3"#4"/#(&'"'#6(*(#*20123/#(//#18'(#4"/# &@(# 1(&4"/'# ')*7$# 6"*$(*# 2&/"# 6(*(# &73+&# $+&/*+6"*'2"11# .*73(<#%/(&# .*(0'/7*# '&(*(*"# '+0#&73+/# (6# "&# '=816$1(*-"/# 2# 4"''(# 18&4"*9#[;1(&4#.2&&'#05=123-"/"*#(//# .5*18&3(#4"&#/24';"3*8&'(4"#)"*2+4"&<#0"&# 2&/"# (11/249# a%*%624(# 4"/# 35*'# 2&42624%"11(# (&)(''&2&3(*# (6#%&4"*62'&2&3"&#.5*#)"*'+&"*#'+0#(6#+12$(#(&1"4&2&3(*#-(*#'67*/#(//#/2113+4+35*(#'23#%&4"*62'&2&3"&#.*(037*#2&/"#(6#"&$8/"&<#0"&#8*#"&#.*73(#'+0#2&'/811"*#'23#624#3"&+037&3#(6#'6(*"&9##

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

$=F RA,@40()D+@+A+(!W!?3P1A(/050)!-./!2&)/L(-)!

[&&";8*#"&#/24';"3*8&'&2&3#(6#'.2#5$(4"#2&,2/(0"&/#.5*#"&#'&(;;(*"#"/(;1"*2&3# (6# &@(&18&4(# 2&6(&4*(*"# )7# (*;"/'0(*$&(4"&# +,-# 2#'(0-811"/# 2# 56*23/m# [# 42*"$/26"&# /211# %/*"4&2&3"&# -(*# .*73(&# *"4(&#;"'6(*(/'# =($(&4"9# B/37&3')%&$/"&# .5*# 67*/# %))4*(3# 8*# (//# /24'F;"3*8&'(#%/;214&2&3"&#2#'@./"#(//#".."$/262'"*(#'.29#C2#-(*#86"&#%&4"*#%/*"4&2&3"&'#(*;"/"#'/8*$/'#2#67*#%)).(//&2&3#(//#"&#/24';"3*8&'&2&3#.($/2'$/# $(&# ')"1(# "&# *+11# .5*# (//# '$()(# 3@&&'(00(*"# .5*%/F'8//&2&3(*#.5*#2&6(&4*(*"#(//#2&/"3*"*('#;74"#2#(*;"/'126"/#+,-#2#'(0F-811"/#2#56*23/9##

"FB#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

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

$=F=" X3P1A(/050)!-./!2&)/L(-)!W!1D+@@5O)01@0)+&@!M0)@M0'5AK!

[#'/+*/#'"//#'(0/123(#18&''/@*"1'"*#8*#)+'2/26/# 2&'/8114(#/211#(//#&73+&#.+*0#(6#/24';"3*8&'&2&3#2&.5*'#+,-#/*+*#(//#4"1/(3(*&(#$+00"*#(//#&7# "&# -53# ')*7$123# &267# '&(;;(*"# +,-# (//# (*;"/'0(*$&(4'F"/(;1"*2&3"&#$+00"*#(//#37#.+*/(*"9#Z7&3(#'"*#4"/#'+0#&(/%*123/#(//#'.2# 2# .5*'/(#-(&4#;5*#*2$/(#'23# /211#&@(&18&4(# 2&6(&4*(*"#+,-#47#;12*#4"/# 86"&# &(/%*123/# (//# 4"/# -(&41(*# +0# "&# ;"3*8&'(4# /249#a(*#0(&#6(*2/# 18&3"# 2# :6"*23"# ;5*# 0(&# 2# '/811"/# .5*# '.2# ;12# "*;=%4"&# %&4"*F62'&2&3#2&+0#4"&#+*42&(*2"#6%P"&%/;214&2&3"&<#8*#"&#'@&)%&$/#'+0#.5*/'#.*(09#

Z7&3(#(&'"*#86"&#(//#4"/#8*#&(/%*123/#(//#-(#"&#/24'3*8&'#.5*#'.2#"./"*'+0#4"#.1"'/(#(&4*(#%/;214&2&3(*#-(*#4"/9#!"/#0(&#.*(0.5*#(11/#'"*#'+0#)+'2/26/#8*#(//#4"/#$(&#3"#"&#5$(4#/@4123-"/#.5*#4"1/(3(*&(#+0# 6(4# '+0# .5*68&/('# (6# 4"0<# 621$"/# 2# '2&# /%*# $(&# -5=(# 0+/26(F/2+&"&9#Z(&#/*+*#86"&#(//#"&#5$(4#0+/26(/2+&#$(&#02&'$(#(6;*+/F/"&9#A&#(1108&#%)).(//&2&3#8*#(//#"&#/24';"3*8&'&2&3#2&/"#;(*(#$(&#

"FE#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

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

d//"*123(*"# "&# )+'2/26# ".."$/# '+0# /(32/'# %))# 8*# (//# "&# /24'F;"3*8&'&2&3# $(&# 0+/6"*$(# 4"&# 2&17'&2&3'".."$/# '+0# 24(3# 35*# (//#62''(#4"1/(3(*"#;12*#$6(*#2#%&4"*62'&2&3#%&4"*#"&#18&3*"#/24#%/(&#(//#35*(#.*(0'/"39#!"/#%))1"6'#2;1(&4#'+0#)*+;1"0(/2'$/#(//#62''(#%))F/(*#"&#'.2F)1(/'#i.5*#18&3"i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

!"/#.2&&'#86"&#"&#*84'1(#.5*#(//#"&#/24';"3*8&'&2&3#$(&#1"4(#/211#"//# 5$(/# %/(&.5*'$()# +0# *"'%1/(/"/# ;12*# (//# 4"1/(3(*"&# (6'1%/(*# '.2#0"4#+/211*8,$123(#'6"&'$$%&'$()"*9#U2'$"&#.5*#%/(&.5*'$()#;"450'#$%&&(#5$(#+0#4"/#"./"*#(6'1%/(4#'.2# 2&/"#.2&&'#&73+&#)1(&"*2&3#.5*#.+*/'(//(# 2&'(/'"*9# Z7&3(# -(*# 48*.5*# )+8&3/"*(/# (//# "&# /24'F;"3*8&'&2&3# 4"1'# '/811"*# $*(6# )7# "&# .1"P2;"1# %&4"*62'&2&3# '+0#(&)(''('# "./"*# 4"1/(3(*&('# +12$(# .5*%/'8//&2&3(*# +,-# ;"-+6<# 4"1'#'/811"*# $*(6# )7# "&# /@4123# )1(&"*2&3# "./"*# (6'1%/(4# '.29#Z7&3(# (&'"*#

"FF#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

+,$'7#(//#4"/#;5*#.2&&('#05=123-"/"*#(//#%&4(&/(#62''(#4"1/(3(*"#.*7&#"&# /24';"3*8&'&2&39# !"/# -(&41(*# /9"P9# +0# (&(1.(;"/"*<# $+*/F/24'%/;214(4"<# 814*"# )"*'+&"*<# )"*'+&"*# 0"4# .%&$/2+&'&"4'8//&2&3#'(0/#$62&&+*# '+0#$(&#-(# '67*/# (//# $+0;2&"*(# '/%42"*#0"4# .(021=9#:(0/2423/#-(*#4"/# +,$'7# .*(0.5*/'# (//# "&# .1"P2;"1# %&4"*62'&2&3<# "&#.%&3"*(&4"# ;(*&+0'+*3# +,-# 56"*-+))&2&3';(*# /24# $(&# %&4"*18//(#.5*#4"''(#3*%))"*9##

C2$/"&#(6#(//#"&#/24';"3*8&'&2&3#;12*#"&#0+*+/#+,-#2&/"#"&#)2'$(#-(*# 86"&# .*(0.5*/'9# G//# 2# "//# /2423(*"# '$"4"# $+))1(# '.2# /211# 6(*="#)"*'+&'# @*$"'24"&/2/"/# +,-# @*$"'2&*2$/&2&3# /*+'# /9"P9# $%&&(# 5$(#0+/26(/2+&"&9#e$(4"#05=123-"/"*#/211#42'/(&'%&4"*62'&2&3#/('#86"&#%))#'+0# "P"0)"1# )7# 6(4# '+0# ;"450'# $%&&(# 5$(# 4"&# "&'$214"'#0+/26(/2+&9#!2'/(&'%&4"*62'&2&3#%))3"'#86"&#$%&&(#05=12335*(#"&#.1"P2;1(*"# 2&18*&2&39# A//# 18&# /(*# %))# i;1"&4"4# 1"(*&2&3i# '+0# "&#0"/+4#(//#5$(#0+/26(/2+&#+,-#.1"P2;212/"/9#]"*0"&#'/7*#.5*#i6(*2"*(/#18*(&4"i#+,-# 2&&";8*# (//#0(&# (&68&4"*# .1"*(#)"4(3+32'$(#0"/+4"*#'(0/2423/# .5*# (//# %))&7# 071"/# 0"4# %/;214&2&3"&9# !"/# $(&#"P"0)"162'#6(*(#'=816'/%42"*#;1(&4(/#0"4#"F1"(*&2&3<#62*/%"11/#$1(''F*%0#+,-#3*%))56&2&3(*9##

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

d//"*123(*"# "&# .(*-73(# '+0# /(32/'# %))# 8*# (//# "&# %/;214&2&3'F(&+*4&(*"# $(&'$"# 681="*# (//# "&;(*/# '(/'(# )7# 4"# 3*%))"*# '+0# 35*#'&(;;(# .*(0'/"39# A&# 62$/23# .*73(# 2# 4"//(# '(00(&-(&3# ;12*# 47# -%*#.2&(&'2"*2&3'.+*0"&#$(&#%/.+*0('# .5*# (//#-2&4*(# "&# '74(&#%/6",$F12&39# !"/# $+00%&(1(# "P"0)"1# '+0# 3"'# 2# &8'/(# (6'&2//# 62'(*# (//#.2&(&'2"*2&3"&#2#'23#$(&#%/35*(#2&,2/(0"&/#.5*#'.2F(&+*4&(*"&9##

G&4*(# /8&$;(*(#&"3(/26(# .51=4"*# '+0# /(32/'# %))#%/37*# .*7&#4"&#.+*'$&2&3#'+0#.2&&'#+0#(&4*(')*7$'2&18*&2&3<#'+0#62'(*#(//#4"/#-"1/#"&$"1/#/(*#/24#(//#18*(#'23#"//#&@//#')*7$#'+0#6%P"&#+,-#(//#4"/#2&/"#

"F<#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

.2&&'#&73*(#3"&683(*9#!"/#.2&&'#"&#*84'1(#.5*#(//#4"/#$(&#;12#'/*"''23/#

.5*#;74"#18*(*"#+,-#4"1/(3(*"#+0#0(&#$8&&"*#(//#/24"&#8*#.5*#$&())9#!"/# -(*# +,$'7# .*(0.5*/'# (//# $6(12/"/"&# )7# '.2# 6(*2"*(*# *%&/# +0# 2#1(&4"/#+,-#(//#"&#/24';"3*8&'&2&3#48*.5*#$(&#.7#+12$(#".."$/"*#;"*+F"&4"#)7#6(*#0(&#;+*9##

A&#(&&(&#.(*-73(#8*#(//#62''(#2&42624"*#$(&#$+00(#(//#/62&3('#%/#.5*#'&(;;/#)7#(*;"/'0(*$&(4"&#%/(&#05=123-"/"*#(//#$+00(#/211;($(#/211#'.2#2#"//#'"&(*"#'$"4"#2#+,-#0"4#4"&#5$(4"#;"/+&2&3"&#)7#(*;"/'F12&="&#2#4"&#$+00(&4"#"/(;1"*2&3'*".+*0"&9#

C24(*"#-(*#62''(#)7/(1(/#)*+;1"0"/#0"4#4"&#$+&/2&%"*123(#(&/(3F&2&3"&# 2# .5*-711(&4"# /211# "&# /24';"3*8&'&2&39# !"/# 8*# +1@,$123/# (//#;1(&4(#&@(&18&4(# 2&6(&4*(*"#0"4# 2&6(&4*(*"# '+0#62'/(/'# 2# :6"*23"#%&4"*# "&# 18&3*"# /24# "./"*'+0# 4"/# 3"*# ."1# '23&(1"*# /211# (0;2/25'(#&@;5*=(*"#)7#'.29#

!"#/24'3*8&'"*#'+0#(&'"'#180)123(#1233"*#*%&/#/67#7*#"11"*#2#62''(#.(11#$+*/(*"#/249#A//#18&#%//*@,$"*#4"/#)7#.51=(&4"#'8//W#i\0#0(&#2&/"#$1(*(/# 3+4$8&/# "./"*# /*"# 7*# '$(#0(&# &+3# .%&4"*(# )7# (&4*(# '8//# (//#35*(# 2&42624"&# 4"1($/23# 2# '(0-811"/i9# :+0# /2423(*"# &80&/'# (&'"*#4+,$#07&3(#(//#4"/#'$(#.2&&('#05=123-"/"*#/211#.5*18&3&2&3#.5*#62''(#3*%))"*<# .5*"/*84"'62'# (&(1.(;"/"*9# A&# 4"1# (&'"*# 86"&# (//# 4"/# ;5*#.2&&('# +12$(# /24"*# .5*# +12$(# '/%42"683(*9# :+0123(# (&'"*# (//# /24'F3*8&'"&# '$(# 6(*(# -"1/# 2&42624%"11# +,-# .('/'/811('# %/2.*7&# 2&42624"&'#)*+3*"''2+&9#

:1%/123"&#(&'"*#.1"*/(1"/#(//#4"&#&@123"&#2&.5*4(#'.2F;+&%'"&#2&/"#$+00"*#(//#.7#&73+&#'/5**"#".."$/<#"./"*'+0#4"&#"&4('/#3(3&(*#4"0#'+0#8&47#'$%11"#-(#.7//#3+4$8&/#;"/@3#*"1(/26/#'&(;;/9#

$=F=9 X3P1A(/050)!-./!2&)/L(-)!W!'-??*+0)+&@!M0)@M0'5AK!

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

"<:#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

+,-# 4"# '+0# -(*# &73+&# .+*0# (6# .%&$/2+&'&"4'8//&2&39# a8*# $*86'#2&42624%"11(# 15'&2&3(*# +,-# .1"P2;1(# %&4"*62'&2&3'0"/+4"*<# &73+/#'+0#0(&#'"*#.*(0.5*#'23#.7*#5$(4#;"/@4"1'"#624#"&#$+00(&4"#/24'F;"3*8&'&2&39##

?1"*(#37&3"*#-(*#62#.7//#-5*(<#+,-#86"&#'=816(#'"//<#(//#.5*8&4*(4"#%&4"*62'&2&3'0"/+4"*# .($/2'$/#-(*#;"/@4"1'"# .5*#05=123-"/"*&(# (//#$%&&(# /(# /211# '23# %&4"*62'&2&3"&# .5*# )"*'+&"*# '+0# /9"P9# 124"*# (6#'50&)*+;1"0#"11"*#-(*#6(*2/#0"4#+0#/*(%0(/2'$(#%))1"6"1'"*9#

Z7&3(# -(*# .*(0.5*/# (//# 4"1/(3(&4"# 2# '.2# ;5*# 2&&";8*(# "&# -"1F/24''@''"1'8//&2&3#624#"&#/24';"3*8&'&2&39#G&/2&3"&#3"&+0#(//#'.2F%&4"*62'&2&3"&# $+0;2&"*('# 0"4# )*($/2$# "11"*# (&4*(# 2&'(/'"*# "11"*#3"&+0#(//#4"/#;12*#.1"*#/200(*#'.2F%&4"*62'&2&39#

B/56"*# .1@$/2&33*%))"&# 2&37*# 86"&# (&-5*23(# Q;74"# /211# '6"&'$(#0"4;+*3(*"#+,-#/211#.1@$/2&3(*#'+0#6(*2/#2#:6"*23"#2#0"*#8&#/67#7*R<#4"# '+0# -(*# %))"-711'*8//# "&123/# AA:F(6/(1"/<# (*;"/'$*(./'2&6(&4*(*"#+,-# 2#&73+&#07&#'8'+&3'(*;"/(*"<#38'/'/%4"*(&4"#+,-#62''(#)"&'2+&F8*"*#2#0713*%))"&#.5*#'.29#[#&+**1(&4'18&"&#-(*#62#86"&#'/5//#)7#4"&#.5*#+''# &@(# 3*%))"&# i&@;@33(*&(i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i&@(&18&4(i# 8&#(&4*(#&@(&18&4(9##

C24# "&# ')+&/(&# %))'$(//&2&3# 1(&4(*# .1"*/(1"/# (6# 4"0# 62# /*8..(/#2&+0#"&#/24';"3*8&'&2&3#)7#,2*$(#/67#7*#.5*#0(=+*2/"/"&#(6#'.2F4"1F/(3(*&(9# D+*/(*"# /24# &80&'# +./(# .5*# -53%/;214(4"W# O<X^I<X# 7*9#G&(1.(;"/"*# +,-# $+*//24'%/;214(4"# ;5*# 48*"0+/# .7#0"*# /24# )7# '239#_6"&# 4"# 4"1/(3(*"# 62# -(*# /*8..(/# -(*# .5*"'1(32/# "&# /677*'3*8&'<#%&4(&/(3"/#(&(1.(;"/"*#+,-#$+*//24'%/;214(4"9#

A&# .*73(# '+0#+./(# -(*#$+002/# %))# 8*#-%*#0(&# '$(# '"#)7# /24'F;"3*8&'&2&3#2#.5*-711(&4"#/211#4"1/(3(*"#0"4#'8*'$214(#;"-+69#_*#4"/#;8'/# (//# .5*18&3(# /24"&# 2# '.2<# "11"*#;5*# %&4"*62'&2&3"&# 2# -53*"# 3*(4#(&)(''('#/211#4"1/(3(*&(m#A11"*#$(&'$"#;74"#+,-m#?5*#)"*'+&"*#0"4#.%&$/2+&'&"4'8//&2&3# -(*# 07&3(# )7/(1(/# (//# 4"/# -(&41(*# +0# (//#%&4"*62'&2&3"&#07'/"#;12#/21138&3123<#46'9#(//#4"/#'$(#6(*(#05=123/#(//#/(#4"1# (6#%&4"*62'&2&3"&#)7# 12$(# 6211$+*# '+0#56*23(<# 86"&#+0#0(&#-(*#&73+&#.+*0#(6#.%&$/2+&'&"4'8//&2&39##

"<"#

%&'()*+,!-./!*+,0)1&(!23)!&)40505! 678!9:"";"<!

!

!

?5*%/+0#(//# '(06"*$(&# 2&+0#$+00%&"&#07'/"# .%&3"*(#)7#"//#;*(# '8//# 624# "&# /24';"3*8&'&2&3<# -(*# 07&3(# 86"&# )7/(1(/# 62$/"&# (6#2&/"*$+00%&(1#'(06"*$(&9#!"/#3811"*#/9"P9#2#>+**1(&4#48*#2&6(&4*(*"#+./(# %/35*# "&# -"/"*+3"&# 3*%))# '(0/2423/# '+0# 4"/# 8*# 17&3(# (6'/7&4#0"11(&#/8/+*/"*&(9##

[#"&#(6#$+00%&"*&(#62#;"'5$/#-(*#0(&#2&.5*/#'9$9#$%&46(1#'+0#2&&";8*#(//#0(&#(%$/+*2'"*(*#+12$(#($/5*"*#'+0#4"&#"&'$214"#'"4(&#$(&# 681=(9# G%$/+*2'(/2+&"&# '$"*# %/2.*7&# 62''(# $*2/"*2"*9# :.2F(&+*4F&(*"&# .7*# '"4(&# "&# )*"'/(/2+&';('"*(4# "*'8//&2&3# '+0# 3"*# 2&,2/(F0"&/#.5*#(&+*4&(*"&#(//#"*;=%4(#+,-#;"4*26(#"&#%&4"*62'&2&3#'+0#'7#'&(*/#'+0#05=123/#1"4"*#/211#;"/@39#A*'8//&2&3"&#8*#-53*"#.5*#4"0#'+0#.7*#3+4$8&/#)7#$%*'"*&(#G#+,-#`#=80.5*/#0"4#c#+,-#!#Q'+0#"&#+068&4#'.2F;+&%'R9#[#+,-#0"4#(//#0(&#)7#4"//(#'8//#-(*#6(1/#(//#.5*'/8*$(# 2&,2/(0"&/"&# .5*# (&+*4&(*&(# %))1"6"*# 0(&# 2&/"# (//#;"-+6"/#(6#"&#/24';"3*8&'&2&3#8*#'7#'/+*/9#C7*/#2&/*@,$#8*#(//#4"&&(#/@)# (6# )*"'/(/2+&';('"*(4# "*'8//&2&3# 2&/"# 8*# '8*'$21/# 6(&123/# .5*"F$+00(&4"9# !"/# 6(&123(# /@,$'# '&(*(*"# 6(*(# (//# '.2F(&+*4&(*"# .7*#;"/(1/#%/(&#$+))12&3#/211#'/%42"*"'%1/(/<#621$"/#$&())('/#'$()(*#&73*(#2&,2/(0"&/#(//#;"4*26(#"&#$6(12/"/'2&*2$/(4#%&4"*62'&2&39##

A//#)*+;1"0#'+0#/(32/'#%))#(6#07&3(#%&4"*#67*(#'/%42";"'5$#8*#(//# 62''(# 4"1/(3(*"# )*208*/# 18'"*# '.2# .5*# (//# .7# '2&# .5*'5*=&2&39#\0#2&42624"&'#071#0"4#(//#18'(#'6"&'$(#2&/"#8*#(//#.7#(*;"/"#.2&&'#"3"&/F123"&# 2&3(# 2&,2/(0"&/# (//# (6'1%/(# '.2<# "&123/# 4"# 18*(*"# '+0# 62# -(*#)*(/(/# 0"49# ?5*'5*=&2&3''/54"/# /"&4"*(*# 48*23"&+0# (//# .5*18&3(#/24"&#2#'.29#?5*#'+0123(#-(&41(*#4"/#+0#(//#'+,2(1/=8&'/"&#$*86"*#(//#)"*'+&"&#2#.*73(#4"1/(*#2#'.2#.5*#(//#)7#'2$/#$%&&(#'/7#/211#(*;"/'0(*$F&(4"&'# .5*.+3(&4"# +,-# ;12# '=816.5*'5*=(&4"9# ?5*# (&4*(# ;12*# $+&F/($/"&#0"4# '$+1(&# 4"&# "&4(# $+&/($/"&#0"4# 4"/# +0326(&4"# '(0F-811"/9# D+00%&"&# .5*1833"*# 2# 62''(# .(11# 07&3(# $*2&3($/262/"/"*# 2#(&'1%/&2&3# /211# '.2F%&4"*62'&2&3"&<# 621$"/# /"&4"*(*# (//# 5$(#0+/26(F/2+&"&#-+'#4"1/(3(*&(#(//#$+00(#/211#'$+1(&#/*+/'#(//#0(&#2&/"#35*#&73*(#.*(0'/"3#2&+0#'.2#9#

d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

"<9#

678!9:"";"<! %&'()*+,!-./!*+,0)1&(!23)!&)40505!

!

!

"<H#

4"1/(3(&4"/#2#'.2#2&/"#1"4"*#/211#.5*;8//*(4"#')*7$$%&'$()"*9#A&#/24'F;"3*8&'&2&3# 2&&";8*#(//#'+,2(1/=8&'/"&#2&/"#$(&#.+*/'8//(#(//#;"38*(#(//#"&#4"1/(3(*"#'+0#.5*;*%$(/#'2&#'.2F/24#'$(#.+*/'8//(#(//#'.2#.5*#(//#.7# .5*'5*=&2&3''/549#Z7&3(# -(*# 2# 4"&&(# 42'$%''2+&# )7/(1(/# (//# 4"/#$(&# /@412335*(# ;"-+6"/# (6# (//# (&4*(# 2&'(/'"*# +,-# 0"/+4"*# 07'/"#%/6",$1('# .5*# 4"&&(# 0713*%))<# 621$"/# $(&# 6(*(# )+'2/26/# .5*# 4"&#"&'$214"9#

C(124"*2&3#8*#"//#(&&(/#80&"#'+0#$+002/#%))#2#42'$%''2+&"*&(9#C(124"*2&3#'$"*#2&/"#(11/24#)7#"//#;*(#'8//#+,-#2;1(&4#(&68&4'#4"/#2&/"#(11'9# D+00%&(1(# .5*"/*84(*"# (&'"*# ;19(9# (//# 05=123-"/"&# (//# .7# /211#'/7&4# "&# 6(124"*2&3# 8*# $+&=%&$/%**"1(/"*(49#\0#"./"*.*73(&#)7# "//#62''/# (*;"/"# 2&/"# .2&&'<# '7# .2&&'# 2&/"# -"11"*# &73+/# 2&/*"''"# .*7&#G*;"/'.5*0"412&3"&'#'24(#(//#"*;=%4(#6(124"*2&39#

#

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

!"#$%#$&'())#$*+,-.&/#$012)&3+,4)5#$.&6)5#$0&7+$801$(-&+9*&:"4&;#5#$*+,-&;4$0&

!"#$%&'&($&) *+#) ,-#$./+('") *0#) #1""$&) "'//) .,') 2+&) "'%.3$(#1&.+.4)5-#./+($") *+#) 67&(+) ,-#%$/+#) 89*) 2+&) .2+:+) '&9'"+6$&") ,-#) $&)$,,$2"';+#$)0"3'/%&'&()89*)3'%#+)"'//)$&)-2+%)($&86."#-6&'&(4))

<') +&.$#) %892) +"") 28&.$2;$&.$#&+) ;+%) (1//$#) -;$#."#-6&'&($&),#7&) .,') "'//) .;$&.2+) .86) +&%#+) .:#72) '&86) %$&) (#0&%/1((+&%$);0=$&0"3'/%&'&($&) '&"$) 1#) "'//#192/'(") 0"#$%%+) 89*) +//",-#) 2&+::>*1&%'(") #$%8;'.+%$) ,-#) +"") %$") .2+) ;+#+)6-?/'(") +"") "+) ."1//&'&() "'//)0"#$%&'&($&.),-#./+()')%$&&+)%$/4)

<=>)

!"#$%$&'&

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

()*+,-"-%&./&)",01+%*2-0-"-%&"&03+-045-,+*3"0-"-%&67*&"-3$-,*$*+&

8"*9&:;;<=''>!

!"#$%&'!()*!+#,#+)-,$$.//.-'+0*#!*#-!1!*#2#/3#+!4556!

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

7-! $0+$8)%*! &'+#*.+#! $8.! &-*#+$98.! :&+! ;%#+! -<.-%0-*.! $8.! 8&--.!%0+.!$),!$(#-$8.!$-.33.+#!,#-=/!.''!+#,%#+-.!0-*+.$!;9+!&-*#+!:&+!%>-,!')*!*#'!0+!/9?%),'!.''!*#%'.!)!$(#-$8&-*#+()$-)-,!;9+!)-(.-*+.+#!@$;)AB!C'+#*.+#-$!;9+$%.,!$8.!$<;'.!')%%!.''!#;;#8')()$#+.!&'3)%*-)-,#-!$>! .''! *#'! $8.D.$! ,<--$.//.+#! ;9+&'$0''-)-,.+! ;9+! )-(.-*+.+#! .''!)-'#,+#+.$!)!$./:0%%#'!=2:!;9+!.''!*#!$-.33.+#!$8.!8&--.!#'.3%#+.!$),!D>!.+3#'$/.+8-.*#-B!!

C'+#*.+#-!$8.!3%B.B!!

• ;9+#$%>!:&+!#-!')*$3#,+0-$-)-,!.(!$;)!$8.!&';=+/.$E!!• ;9+#$%>! -0+! *#'! $8.! (.+.!/=')(#+.'! .''! ,9+.! .($'#,! ;+>-! #-! ')*$F

3#,+0-$-)-,!=2:!*0+/#*!;9+%0-,.!')*#-!)!$;)E!=2:!!• 3#*9/.!:&+!#-!')*$3#,+0-$-)-,!.(!$;)!8.-!D>(#+8.!&'3)%*-)-,#-$!

,#-=/;9+.-*#!=2:!8&+$D%.-#-!)!0/-#'!$(#-$8.!$=/!.-*+.$D+>8!)-=/! ,+&-*%0,,.-*#! 8=//&-.%! (&G#-&'3)%*-)-,! @8=/(&GA!$./'!(&G#-&'3)%*-)-,!;9+!&'(#28%)-,$$'9+*.!@$0+(&GAB!!

C'+#*.+#-!$8.!%0/-.!;9+$%.,!')%%!-9*(0-*),.!;9+;.''-)-,$;9+$%.,B!!CDD*+.,#'!$8.!+#*=()$.$!$#-.$'!*#-!H!*#2#/3#+!45H5B!!

*&+,-./'$(,$)"+)0+,$0.1$2,3+'0$'$()%43)'$+"$23"3,)50%'6)

I#%'.,.-*#! )! $(#-$8&-*#+()$-)-,! ;9+! )-(.-*+.+#! @$;)A! 0+! #-! %.,F$'.*,.*!+0''),:#'!;9+!*#-!#-$8)%*#!;+>-!=2:!/#*!*#'!.-*+.!8.%#-*#+F:.%(>+#'! *#'! >+! D#+$=-#-! ;<%%#+! HJ! >+E! =/! D#+$=-#-! $.8-.+! $>*.-.!,+&-*%0,,.-*#!8&-$8.D#+!)!$(#-$8.!$D+>8#'!$=/!$;)!$<;'.+!')%%!.''!,#B!I#'!0+!#-!8=//&-.%!$8<%*),:#'!.''!)-=/!'+#!/>-.*#+!$#!')%%!.''!$;)!

'<>!

!"#$%$&'& ?@(&:;''='<&

&

!#+3?&*$!*#-!$=/!:.+!+0''!.''!*#%'.!)!&'3)%*-)-,#-B!K0''#-!.''!*#%'.!)!&'3)%*-)-,! &DD$'>+! )! D+)-2)D! *#'! *.'&/! D#+$=-#-! ;=%83=8;9+$! )!8=//&-#-!;9+&'$.''!.''!9(+),.!()%%8=+!0+!&DD;<%%*.B!!

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

S9+!*#!/0--)$8=+!$=/!;%<''.+!')%%!L(#+),#!;+>-!#''!.--.'!%.-*!=2:!$D+>8=/+>*#!0+!&'$)8'#+-.!;9+!)-'#,+.')=-!D>!.+3#'$/.+8-.*#-!$./'!)! *#'! $(#-$8.! $./:0%%#'! )! 9(+),'! )! :9,! ,+.*! 3#+=#-*#! .(! /9?%),F:#'#+-.!=2:!;9+/>,.-!.''!')%%0,-.!$),!*#'!$(#-$8.!$D+>8#'B!!

7-!2#-'+.%!*#%!)!+#,#+)-,#-$!)-'#,+.')=-$D=%)')8!0+!.''!$#!')%%!.''!$;)!#+3?&*$!)-(.-*+.+#!$=/!#-!+)8'.*!>',0+*!.(!,=*!8(.%)'#'!&-*#+!*#-!;9+$'.!')*#-!)!L(#+),#B!!

L;)!:.+!#+3?&*)'$!)-(.-*+.+#!0-*.!$#*.-!39+?.-!.(!H6J5F'.%#'!=2:!:.+! &-*#+! >+#-! (.+)'! ;9+#/>%! ;9+! #''! .-'.%! ;9+0-*+)-,.+B! I#! ;9+F0-*+)-,.+!$=/!$8#''!:.+!.%%.!:.;'!$=/!$<;'#!.''!:9?.!8(.%)'#'#-!=2:!#;;#8')()$#+.! &'3)%*-)-,#-! ;9+! .''! *0+),#-=/! 98.! ,#-=/F$'+9/-)-,#-!=2:!;9+30''+.!$'&*)#+#$&%'.'#-B!!

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

'<A!

?@(&:;''='<& !"#$%$&'&

&

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

I#-! HW! -=(#/3#+! 4556! 9(#+%0/-.*#! +#,#+)-,#-! D+=D=$)')=-#-!<=%$()$+%' 3$1%$+*%*,&' %*5,0&9%*2$%+&,0%5(,*3$4' >' ,4,$%$&1%*'9,+'?*-7,&&3-$,((0'&0@+'03(('*32&+%4,$!@D+=DB!4556UH5VJ5AB!T!D+=D=$)')=-#-!;9+#$%>$! .''! #-! )-*)()*&#%%! #'.3%#+)-,$D%.-! $8.! &DD+0''.$! ;9+!-<.-%0-*.B! 7'.3%#+)-,$D%.-#-! $8.! =/;.''.! .8')()'#'#+! &-*#+! :9,$'!4Y!/>-.*#+!=2:!/)-$'!)--#:>%%.!)-$.'$#+-.!)-=/!$;)!;9+!*#-!$=/!:.+!+0''!.''!*#%'.!)!$;)!#-%),'!$8=%%.,#-!@H6ZQVHH55AE!$./:0%%$=+)#-'#+)-,!=2:! .8')()'#'#+! ;9+! .''! &-*#+%0''.! =2:! D>$8<-*.! *#-! -<.-%0-*#$!#'.3%#+)-,!)!.+3#'$%)(#'B!L8=%%.,#-$!3#$'0//#%$#+!=/!*#%'.,.-*#!)!$;)!,0%%#+!=.($#''!=/!*#-!-<.-%0-*#!;9%?#+!#'.3%#+)-,$D%.-#-!#%%#+!)-'#B!!

7,89+,&)"+)"&&)&:2/'((43")0%';0)39//)09#),$)&'20<,(3=$0"2)'$&,(3"&'9$0>9/'&'0.)'$0"&0))

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

L8)%%-.*#+-.!/#%%.-!$'&*)#(0,.+-.!0+!$'=+.!(.*!,0%%#+!+#$&%'.'#-B!M(!*#/!$=/!,)28!D>!$'&*)#(0,.+-.!H!=2:!4!(.+!*#'!3.+.!15!D+=2#-'!$=/!&DD->**#!,=*80-'!3#'<,!D>!:9,$'.!8&+$#-!@IA!=2:!D>!$'&*)#F(0,!1!-0+/.+#!Z5!D+=2#-'B!O#-!(.+!'+#*?#!$;)F*#%'.,.+#!.(!$./'%),.!-<39+?.+#!;)28!)-'#!->,='!3#'<,!.%%$!&-*#+!*#-!&-*#+$98'.!D#+)=*#-B!

'<<!

!"#$%$&'& ?@(&:;''='<&

&

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

I#'!0+!*=28!)-'#!+)/%),'!.''!#-!D#+$=-!)!D+.8')8#-!8.-!*#%'.!)!$;)!&-*#+! #-! =3#,+0-$.*! ')*! =2:! .''! &'3)%*-)-,#-! 8.-! D>39+?.$! =2:!.($%&'.$!&'.-!3#,+0-$-)-,.+B!I#'!/)-$8.+!&'3)%*-)-,#-$!%#,)')/)'#'!

:;;!

?@(&:;''='<& !"#$%$&'&

&

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

*>>23"(,&)"&&)%43,0/?),$)&'20<,(3=$0$'$()%43)2,/&"("$2,)')0%'))

T!&DD*+.,#'! )-,>+!.''!&'.+3#'.! ;9+$%.,! ')%%!*#! %.,F!=2:!;9+=+*-)-,$F'#G'#+!$=/!3#:9($!;9+!.''!,#-=/;9+.!&'+#*.+#-$!;9+$%.,B!C'+#*.+#-!$8.!*0+()*!3#.8'.!*#!8=-$#8(#-$#+! $=/!&'+#*.+#-$! ;9+$%.,! ;>+! (.*!,0%%#+! *#! ;9+$%.,! $=/! +#,#+)-,#-! %0/-.'! ')%%! +)8$*.,#-! =/! $;)! )!;=%8:9,$8=%.!@D+=DB!4556UH5VJZAB!

C"*'&2%'03+&5,4*)$&$3$4,$'%1'&73'7@*'+,$',$&23(+,'"07-*9%&D''

7-!$0+$8)%*!&'+#*.+#!$8.!!

• ;9+#$%>!:&+!#-!')*$3#,+0-$-)-,!.(!$;)!$8.!&';=+/.$E!!• &-*#+$98.! =/! *#-! ;9+#$%.,-.! ')*$3#,+0-$-)-,#-! 0(#-! 8+0(#+!

.-*+.! ;9+0-*+)-,.+! )! &'3)%*-)-,#-! ;9+! .''! *#-! $'&*#+.-*#! $8.!8&--.!&DD->!8&+$/>%#-!/#*!;9+#$%.,#-!')*$3#,+0-$-)-,E!!

• $0+$8)%'! 3#*9/.! ()%8.! 8=-$#8(#-$#+! #-! ')*$3#,+0-$-)-,! .(! $;)!8.-!;>!;9+!D#+$=-#+!/#*!;&-8')=-$-#*$0''-)-,!=2:!D#+$=-#+!$=/!3#:9(#+!$0+$8)%'!$'9*!)!%0$F!=2:!$8+)()-%0+-)-,E!!

• '.! +#*.! D>! =/! *#'! ;)--$! 3#:=(! .(! .''! ,9+.! &-*.-'.,! ;+>-! *#-!;9+#$%.,-.! ')*$3#,+0-$-)-,#-! ;9+! D#+$=-#+! /#*! ;&-8')=-$-#*F$0''-)-,!=2:!D#+$=-#+!$=/!D.+.%%#%%'!/#*!&-*#+()$-)-,!)!$(#-$8.!;>+!&'3)%*-)-,!.($##-*#!%0$F!=2:!$8+)()-%0+-)-,E!!

• 3#*9/.! 8=-$#8(#-$#+-.! .(! #-! ')*$3#,+0-$-)-,! .(! $;)! ;9+! *#%F'.,.+#-!=2:!&'3)%*-)-,$.-=+*-.+#-!=2:!3#*9/.!()%8.!#;;#8'#+!#-!')*$3#,+0-$-)-,!;>+!;9+!+#$&%'.'#-!)!$;)E!=2:!!

• $0+$8)%'! 3#*9/.! ()%8.! 8=-$#8(#-$#+! #-! ')*$3#,+0-$-)-,! 8.-! ;>!;9+!*#%'.,.+-.$!#'.3%#+)-,!D>!.+3#'$/.+8-.*#-B!!

C'+#*.+#-$!;9+$%.,!$8.!$<;'.!')%%!.''!#;;#8')()$#+.!&'3)%*-)-,#-!$>!.''!*#'!$8.D.$!,<--$.//.+#!;9+&'$0''-)-,.+!;9+!)-(.-*+.+#!.''!%0+.!$),!

:;'!

!"#$%$&'& ?@(&:;''='<&

&

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

C'+#*.+#-! $8.!=28$>! .-.%<$#+.!=2:!3#*9/.!()%8.!8=-$#8(#-$#+!#-! ')*$3#,+0-$-)-,! ;>+! ;9+! *#-! -<.-%0-*#$! /9?%),:#'#+! .''! ;>! #''!.+3#'#! %)8$=/! *#'! $./(#+8.-$.+3#'#! $=/! 3#*+)($! /#%%.-! =%)8.!.8'9+#+! ;9+! .''! &-*#+%0''.! )-(.-*+.+#$! #'.3%#+)-,! D>! .+3#'$F/.+8-.*#-! =2:! )! $./:0%%#'! )! 9(+),'B! T! *#'! $.//.-:.-,#'! 39+!&'+#*.+#-! '.!*#%! .(!*#! ;9+$%.,! +#,#+)-,#-!:.+! %0/-.'! ')%%! +)8$*.,#-!=/!-<.-%0-*.!)-(.-*+.+#$!.+3#'$/.+8-.*$#'.3%#+)-,B!!

7-!;9+$98$(#+8$./:#'!/#*!$;)F3=-&$!:.+!)-%#''$!)!#''!.-'.%!8=/F/&-#+B! S9+$98$(#+8$./:#'#-! )--#30+! .''! -<.-%0-*.! )-(.-*+.+#!$=/! )-=/! H4! />-.*#+! ;+>-! #+3?&*#-! 8&+$$'.+'! :.+! &DD->''! %0,$'!3#'<,#'!]=*80-'!D>!#-!()$$!8&+$!)!$;)!$8.!;>!#-!$')/&%.-$#+$0''-)-,!)!;=+/!.(!#-!$;)F3=-&$!D>!:9,$'!H4!555!8+=-=+B!!

7;'#+$=/!;9+$98$(#+8$./:#'#-!$<;'.+!')%%!.''!;9+8=+'.!')*#-!)!$;)!0+! *#'! ()8'),'! .''! &'+#*.+#-! -=,.! ;9%?#+! +#$&%'.'#-! .(! *#--.! (#+8F$./:#'B!!

:;:!

?@(&:;''='<& !"#$%$&'&

&

!<)*'-./'3'13(2%'7%(('&2%'+,0'1%*%'9-031,*%0'%00'4@*%'%1&0,4'7*8$',$'03+&5,4*)$&$3$4'-./'/"*'2%$'9%$'93$&2%'%15*-00,$D''

C'+#*.+#-!$8.!!

• ;9+#$%>! -0+! *#'! $8.! (.+.!/=')(#+.'! .''! ,9+.! .($'#,! ;+>-! #-! ')*$F3#,+0-$-)-,!=2:!*0+/#*!;9+%0-,.!')*#-!)!$;)E!!

• &-*#+$98.! =+$.8#-! ')%%! .''! *#%'.,.+#! .(3+<'#+! &'3)%*-)-,#-! #%%#+!D>39+?.+!=2:!.(3+<'#+!()*!;%#+.!')%%;0%%#-E!!

• &-*#+$98.!/9?%),:#'#-!')%%!#-!98.*!;%#G)3)%)'#'!)-=/!$;)E!!• 3#%<$.! =/! #-! /9?%),:#'! ')%%! ;9+%0-,-)-,! /#*;9+! .*/)-)$'+.')('!

/#+.+3#'#!=2:!.-*+.!8=$'-.*#+E!'B#GB!(.*!,0%%#+!9(#+8%.,.-*#-E!!• ;9+#$%>! -0+! $'&*#+.-*#! $8.! ;+>-'.$! +0''#-! .''! >'#+,>! ')%%! $;)! #;'#+!

.(3+=''!=2:!*>!$0+$8)%'!.-.%<$#+.!*#!$'&*#+.-*#!$=/!,9+!.(3+=''!D>!,+&-*!.(!.+3#'#!=2:!*0+#;'#+!9-$8.+!>'#+,>!')%%!$'&*)#+E!=2:!!

• &-*#+$98.!=/!*#'!;)--$!.-%#*-)-,!.''!;9+'<*%),.!3#$'0//#%$#-!)!H1!8.DB! HH!^! $8=%%.,#-! @H6ZQVHH55A! =/! $0+$8)%*.! $80%! ;9+! .''!>'#+,>!')%%!$;)!#;'#+!.(3+=''B!!

7;'#+$=/!*#'!0+!.-,#%0,#'!.''!*#!$=/!D>39+?.+!$;)!=28$>!$%&';9+!$)-.!$'&*)#+! )-=/! +)/%),! ')*! 0+! *#'! ()8'),'! .''! =/=')(#+.*#! .(3+=''! )!&'3)%*-)-,#-!)!/9?%),.$'#!/>-!8.-!&-*()8.$B!M(3+=''!8.-!=28$>!;>!*#-!#;;#8'#-!.''!*#-!$'&*#+.-*#!:.+!$(>+'!.''!/=')(#+.!$),!$?0%(!.''!>'#+,>!')%%!$'&*)#+E!$0+$8)%'!*>!*#'! )-'#!;)--$!->,=-!3=+'+#!,+0-$!;9+!&'3)%*-)-,$')*#-!)!$;)B!_)$$.!.(3+=''!,>+!#/#%%#+')*!)-'#!.''!&-*()8.!=2:!)!*#!;.%%#-!$8.!*#'!;)--.$!/9?%),:#'!.''!;9+%0-,.!&'3)%*-)-,#-B!!

L'.'$8=-'=+#'! :.+! )! =(.--0/-*.! +.DD=+'! ;9%?'! &DD! =+$.8#+! ')%%!.(3+=''!)!$;)!=2:!+.DD=+'#-!()$.+!.''!=+$.8#-!')%%!-0+/.+#!'(>!'+#*?#F*#%.+! .(! .%%.! $'&*)#.(3+=''! 0+! =80-*B! K.DD=+'#-! ()$.+! =28$>! .''!&-,#;0+!:0%;'#-!.(!*#%'.,.+-.!$=/!D>39+?.*#!$;)!.(3+9'!&'3)%*-)-,#-!)--.-!*#!;)28!,=*80-'!D>!8&+$!IB!!

S9+!*#!*#%'.,.+#!$=/!D>39+?.*#!$'&*)#(0,!HE!*($B!8&+$#+-.!M!=2:!"E! %0$>+#'! 455YU5Q! =2:! $=/! ;)28! %0,$'! 3#'<,#'!]=*80-'! D>! ->,=-!8&+$!(.+!/#*).-(0+*#'!;9+!*#-!%9D.-*#!)-$8+)(-)-,$')*#-!YY4!*.,.+E!/#-!1JW!*.,.+!#G8%&$)(#!$'&*)#&DD#:>%%B!I#%'.,.+#!$=/!)-%#*#+!$;)!D>!$'&*)#(0,!1E!*($B!8&+$!N!#%%#+!IE!,9+!)!,#-=/$-)''!8=+'.+#!$'&*)#F&DD#:>%%!0-!*#!D>!$'&*)#(0,!HB!!

O#*! .-%#*-)-,! .(! +#,#+)-,#-$! D+=D=$)')=-! -9' &1,$&2"$+,*613&$3$4' 7@*' 3$1%$+*%*,! @D+=DB! H661U6YVH4JE! 3#'B! H661U6YVC3CH5E!+$8+B! H661U6YV1YHA! 0-*+.*#$! 3#$'0//#%$#+-.! )! H1!8.DB! HH!^!$8=%%.,#-B!M(!3#$'0//#%$#-!;+./,>+!.''!&'3)%*-)-,#-!8.-!&DD:9+.!=/! *#-! $'&*#+.-*#! $.8-.+! ;9+&'$0''-)-,.+! .''! ')%%,=*=,9+.! $),!

:;B!

!"#$%$&'& ?@(&:;''='<&

&

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

L'.'$8=-'=+#'!;9+#$%>+!#''!.-'.%!>',0+*#+!$=/!$8&%%#!8&--.!#;;#8')()F$#+.!&'3)%*-)-,#-E! 'B#GB! .''!#+3?&*.!&'3)%*-)-,!D>! ;%#G)3%.+#! ')*#+! =2:!*0+/#*!/9?%),,9+.! &-*#+()$-)-,! 0(#-! &-*#+! ;9+0%*+.%#*),:#'! #%%#+!-0+!*#-!$'&*#+.-*#!:.+!;>''!#''!.+3#'#B!C'+#*.+#-!$8.!.-.%<$#+.!L'.'$F8=-'=+#'$!;9+$%.,!=2:!/#*!*#/!$=/!&',>-,$D&-8'!;9+#$%>!:&+!$;)!8.-!#;;#8')()$#+.$! =2:! ,9+.$! /#+! ;%#G)3#%! ;9+! .''! *0+/#*! /)-$8.!.(3+=''#-B!!

C"*'2%$',$'03+&5,4*)$&$3$4'%1'&73'?81,*2%'4*"$+()44%$+,'2-99"$%('1"#,$"053(+$3$4'-./'&)*1"#D''

C'+#*.+#-!$8.!!

• 3#*9/.!:&+!#-!')*$3#,+0-$-)-,!.(!$;)!8.-!D>(#+8.!&'3)%*-)-,#-$!,#-=/;9+.-*#!=2:!8&+$D%.-#-!)!0/-#'!$(#-$8.!$=/!.-*+.$D+>8!)-=/! ,+&-*%0,,.-*#! 8=//&-.%! (&G#-&'3)%*-)-,! =2:! $0+(&GE!=2:!!

• 3#+08-.! ()%8.! #(#-'&#%%.! 8=$'-.*#+! ;9+! $'.'#-! +#$D#8')(#! 8=/F/&-$#8'=+-!#''!)-;9+.-*#!.(!#-!')*$3#,+0-$-)-,!)--#30+B!!

I#'! 0+! $(>+'! .''! 9(#+3%)28.! ()%8.! 8=-$#8(#-$#+! #-! 3#,+0-$-)-,! .(!')*#-!)!$;)!8.-!;>E!$>(0%!;9+!*#-!#-$8)%*#!$=/!;9+!*#'!.%%/0--.B!I#'!,0%%#+! 3%B.B! ;+>,.-!=/! $'&*)#/=')(.')=-E! )-*)()*#+$! )-'#,+.')=-!=2:!.+3#'$/.+8-.*$#'.3%#+)-,!$./'!#;;#8'#+!;9+!*#-!8=//&-.%.!(&G#-F&'3)%*-)-,#-B! I#'! 0+! *0+;9+! .-,#%0,#'! .''! 8=-$#8(#-$#+-.! .(! #''!)-;9+.-*#!.(!#-!')*$3#,+0-$-)-,!.(!$;)!.-.%<$#+.$!=2:!3#*9/$B!!

S9+&'=/!$;)!:.+!8=//&-)-(>-.+#E!=/!()$$.!()%%8=+!0+!&DD;<%%*.E!=28$>! #-! %.,$'.*,.*! +0''! .''! %0$.! $(#-$8.! $=/! .-*+.$D+>8! )-=/!+./#-! ;9+! $8=%;=+/#+-.! ,+&-*%0,,.-*#! (&G#-&'3)%*-)-,! #%%#+! $0+F(&GB! [&+$D%.-#+-.! ;9+! $;)! =2:! $(#-$8.! $=/! .-*+.$D+>8! $8)%?#+! $),!#/#%%#+')*!>'!(.*!,0%%#+!$<;'#-E!/>%!=2:!-)(>#+B!7-!8=-$#8(#-$!.(!#-!')*$3#,+0-$-)-,! .(! $;)! 8.-! 3%)! .''! /9?%),:#'#-! ')%%! $(#-$8&-*#+F

:;C!

?@(&:;''='<& !"#$%$&'&

&

!()$-)-,! )-=/! ,+&-*%0,,.-*#! (&G#-&'3)%*-)-,! #%%#+! $0+(&G! 39+!&'98.$B! T! *.,!3<,,#+!8&+$D%.-#+-.! ;9+! $(#-$8.! $=/!.-*+.$D+>8!D>!.''! #%#(#+-.! ,#-=/,>''! $;)B! C'+#*.+#-! $8.! .%%'$>! &-*#+$98.! =/!8&+$D%.-#+-.!39+!.-D.$$.$!')%%!.''!.%%.!*#%'.,.+#!)-'#!&DD->''!/>%#-!;9+!$;)B!!

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

:;D!

!"#$%$&'& ?@(&:;''='<&

&

!

:;E!

@.9$9#'0.").9$0,.+,$0,3))

`/! ;9+$%.,#'! =/! #-! ')*$3#,+0-$-)-,! 8.-! D>(#+8.! 8=$'-.*#-! ;9+!$'.'#-! #%%#+! 8=//&-$#8'=+-! $8.! #-! 3#+08-)-,! .(! *#$$.! 8=$'-.*#+!+#*=()$.$! =2:! ;9+! 8=$'-.*$98-)-,.+! $8.! ;)-.-$)#+)-,! ;9+#$%>$B!7(#-'&#%%.!.*/)-)$'+.')(.!8=$'-.*#+!$8.!$0++#*=()$.$B!!

!"#3?2)9-8)3,29+'0$'$()"+)1>>23"(,&))

C'+#*.+#-! $8.! &'$#! #-! +#;#+#-$,+&DD! ;9+! $./+>*!/#*! ;9+#'+0*.+#!;9+!8=//&-#+!=/!*#!;+>,=+!$=/!&'+#*.+#-!$8.!3#:.-*%.B!!

C'+#*.+#-! $8.! )! $)''! .+3#'#! 0(#-! $./+>*.! /#*! /<-*),:#'#+E!.+3#'$/.+8-.*#-$!D.+'#+!=2:!.-*+.!=+,.-)$.')=-#+B!!

CDD*+.,#'!$8.!+#*=()$.$!$#-.$'!*#-!H!*#2#/3#+!45H5B!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!@C'3)%*-)-,$*#D.+'#/#-'#'A!!

!"#$%$&'&

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

("##)%%*+",-./"0&/"##&1/,-+2"2%-2&34&/"+*5-%,)2*2"2%&"&*0-2*.62+-,0"*2"2%&78,&"20$2+,$,-&91&'::;<:;=&

>",?&':@:<@@@!

!"#$%&'!()*!+#,#+)-,$$.//.-'+0*#!*#-!12!34'35#+!6717!

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

8#*!$'9*!.(! +#,#+)-,#-$!5#/:-*),.-*#!*#-!;!*#<#/5#+!677=!>.+!<>#?#-! ?9+! @'5)%*-)-,$*#A.+'#/#-'#'! ,#''! #-! $0+$4)%*! &'+#*.+#! )!&AA*+.,!.''!&-*#+$94.!>&+!?%#+!-:.-%0-*.!)-(.-*+.+#!$4.!4&--.!%0+.!$),!$(#-$4.!$-.55.+#!,#-3/!.''!+#,%#+-.!0-*+.$!?9+!&-*#+!>&+!%B-,!')*!*#'!0+!/9C%),'!.''!*#%'.!)!$(#-$4&-*#+()$-)-,!?9+!)-(.-*+.+#!D*)+E!677=F11GHE!@'+#*-)-,#-!$4.!#-%),'!*)+#4')(#-!+#*3()$.!$)''!&AA*+.,!$#-.$'!*#-!1!*#<#/5#+!6717E!!

@'+#*-)-,$')*#-!?9+%0-,$E!@AA*+.,#'!$4.!)!$'0%%#'!+#*3()$.$!$#-.$'!*#-!1!/.+$!6711E!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!D@'5)%*-)-,$*#A.+'#/#-'#'H!

!

':A!

Statens offentliga utredningar 2011Kronologisk förteckning

1. Svart på vitt – om jämställdhet i akademin. U. 2. Välfärdsstaten i arbete. Inkomsttrygghet och omfördelning med incitament till arbete. Fi. 3. Sanktionsavgifter på trygghetsområdet. S. 4. Genomförande av EU:s regelverk om inre vattenvägar i svensk rätt. N. 5. Bemanningsdirektivets genomförande i Sverige. A. 6. Missbruket, Kunskapen, Vården. Missbruksutredningens forskningsbilaga. S. 7. Transporter av frihetsberövade. Ju. 8. Den framtida gymnasiesärskolan – en likvärdig utbildning för ungdomar med utvecklingsstörning. U. 9. Barnen som samhället svek. Åtgärder med anledning av övergrepp och allvarliga försummelser i samhällsvården. S. 10. Antidopning Sverige. En ny väg för arbetet mot dopning. Ku. 11. Långtidsutredningen 2011. Huvud- betänkande. Fi. 12. Medfinansiering av transportinfrastruktur – utvärdering av förhandlingsarbetet jämte överväganden om brukaravgifter och lånevillkor. N. 13. Uppföljning av signalspaningslagen. Fö. 14. Kunskapsläget på kärnavfalls- området 2011 – geologin, barriärerna, alternativen. M. 15. Rehabiliteringsrådets slutbetänkande. S. 16. Allmän skyldighet att hjälpa nödställda? Ju. 17. Förvar. Ju. 18. Strålsäkerhet – gällande rätt i ny form. M. 19. Tid för snabb flexibel inlärning. U.

2011_SOU register S-format.indd 2 2011-02-16 10:04:41

Statens offentliga utredningar 2011Systematisk förteckning

Justitiedepartementet

Transporter av frihetsberövade. [7]Allmän skyldighet att hjälpa nödställda? [16]Förvar. [17]

Försvarsdepartementet

Uppföljning av signalspaningslagen. [13]

Socialdepartementet

Sanktionsavgifter på trygghetsområdet. [3]Missbruket, Kunskapen, Vården.

Missbruksutredningens forskningsbilaga. [6]

Barnen som samhället svek. Åtgärder med anledning av övergrepp och allvarliga försummelser i samhällsvården. [9]

Rehabiliteringsrådets slutbetänkande. [15]

Finansdepartementet

Välfärdsstaten i arbete. Inkomsttrygghet och omfördelning med incitament till arbete. [2]

Långtidsutredningen 2011. Huvudbetänkande. [11]

Utbildningsdepartementet

Svart på vitt – om jämställdhet i akademin. [1]Den framtida gymnasiesärskolan

– en likvärdig utbildning för ungdomar med utvecklingsstörning. [8]

Tid för snabb flexibel inlärning. [19]

Miljödepartementet

Kunskapsläget på kärnavfallsområdet 2011 – geologin, barriärerna, alternativen. [14]

Strålsäkerhet – gällande rätt i ny form. [18]

Näringsdepartementet

Genomförande av EU:s regelverk om inre vattenvägar i svensk rätt. [4]

Medfinansiering av transportinfrastruktur – utvärdering av förhandlingsarbetet jämte överväganden om brukaravgifter och lånevillkor. [12]

Kulturdepartementet

Antidopning Sverige. En ny väg för arbetet mot dopning. [10]

Arbetsmarknadsdepartementet

Bemanningsdirektivets genomförande i Sverige. [5]

2011_SOU register S-format.indd 3 2011-02-16 10:04:41

Tryck: E-print, Stockholm, 2011

ISBN: 978-91-7437-194-9