!"#$%#&'()$%*)+*',-*.)/#0*1)&(-'/*)+*12*34%'2*567789:*;<7*5;9:*6=>?@*

!"#

$%&'()*+%&,%-#,)./+*,.%#+%&#01+%-'#,%#,)/+%&#1$2+%#3.3$/+*,.%)#*1(.$-1#+#)*$&4#.5#,%&,-'%.$)#0$/*$(+/#3+**'(%)#,%#*1'#-$/5#.5#0+(3'%*+(,+#

#36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4;#

<=>#+?@A;B;CDE#'CF;A@CGHCIJ#(HJHDA<K#0HCIAH7#$C;FHAJ;IL#@M#NOHHCJEDCP7##)I6#/O<;D7#NOHHCJEDCP7#+OJIADE;D6#

#!"#$%&'$(

*K;J#QDQHA#QAHJHCIJ#D#JHI#@M#KLQ@IKHJHJ#I@#HRQED;C#IKH#<OEIOADE#P;MMHAHC<HJ#?HISHHC#+?@A;B;CDE#QH@QEH#@M#IKH#%@AIK#DCP#)@OIK#THEEHJEHL#,JEDCPJ7#-OEM#@M#0DAQHCIDA;D#DCP# I@#<KDAD<IHA;JH# IKH#AHEDI;FH#PHBAHH#DCP#CDIOAH#@M# IKH;A# ;J@EDI;@C#DCP#<OEIOADE#<KDCBH#@FHA#D#UV7VVV>LHDA#I;GH>J<DEH6##*K;J#@QQ@AIOC;IL#I@#JIOPL#QDADEEHE;JGJ#DCP#P;FHABHC<HJ#;C#IKH#<OEIOADE#DCP#PHG@BADQK;<#K;JI@A;HJ#@M# M;JKHA>KOCIHA>BDIKHAHAJ# DA;JHJ# MA@G# IKH#<@GQDA;J@C#@M# IKAHH#P;JI;C<I# <OEIOADE#BA@OQ;CBJW##XDY#IKH#-DCBBDE;PD#@M#IKH#GD;CEDCP7#X?Y#IKH#/DAP;E#DCP#4DCBZDDE#@M#IKH#%@AIK#THEEHJEHL#,JEDCPJ7#DCP#X<Y#IKH#[D;DP;EI#@M#IKH# )@OIK# THEEHJEHL# ,JEDCPJ6# &HJQ;IH# @<<OQL;CB# J;G;EDA# ;JEDCP# HCF;A@CGHCIJ# DCP# PHJQ;IH# IKH;A# EDCBODBHJ# ?H;CB# DJ#<E@JHEL#AHEDIHP#DJ#M@A#HRDGQEH7#IKH#THJI#-HAGDC;<#EDCBODBHJ7#IKHAH#DAH#J@GH#GD\@A#P;MMHAHC<HJ#;C#<OEIOADE7#H<@C@G;<#DCP#J@<;DE#@ABDC;]DI;@C#DJ#SHEE#DJ#JIA;Z;CB#BHCHI;<#P;MMHAHC<HJ#?HISHHC#IKH#%@AIK#DCP#)@OIK#THEEHJEHL#Q@QOEDI;@CJ6#*K;J#QDQHA# JLCIKHJ;]HJ# PDID# MA@G# E;CBO;JI;<J7# DCIKA@Q@E@BL7# DA<KDH@E@BL7# BHCHI;<J# DCP# HCF;A@CGHCIDE# J<;HC<H# I@# QAHJHCI#KLQ@IKHJHJ# @M# K@S# IKHJH# ;CIA;BO;CB# P;MMHAHC<HJ# SHAH# BHCHADIHP7# DCP# SKDI# SH#G;BKI# EHDAC# D?@OI# HDAEL# QA@<HJJHJ# @M#GDA;CH#<@E@C;]DI;@C#DCP#<OEIOADE#<KDCBH#MA@G#IKH#THEEHJEHL#J;IODI;@C6##[HLS@APJW# +OJIADE;DC# +?@A;B;CDE# QAHK;JI@AL7# <@GQDADI;FH# DCIKA@Q@E@BL7# <OEIOADE# <KDCBH7# -DCBBDE;PD7# ;JEDCP#DA<KDH@E@BL7##;JEDCP#Q@QOEDI;@CJ7#[D;DP;EI7#/DAP;E7#THEEHJEHL#,JEDCPJ7#4DCBZDDE#

#

)*$%+,-'$.+*(

*K;J# QDQHA# QAHJHCIJ# D# JHI# @M# KLQ@IKHJHJ# I@# HRQED;C# SHEE>PHJ<A;?HP# <OEIOADE# P;MMHAHC<HJ# ?HISHHC#+?@A;B;CDE#QH@QEH#@M#IKH#%@AIK#DCP#)@OIK#THEEHJEHL#,JEDCPJ#;C#IKH#-OEM#@M#0DAQHCIDA;D#;C#IHAGJ#@M#JK;MIJ#;C#IKH#AHEDI;FH#PHBAHH#@M#IKH;A#;J@EDI;@C#DCP#<OEIOADE#P;FHABHC<H#@FHA#D#UV7VVV>LHDA#I;GH>J<DEH6#*KHJH# IS@# <EOJIHAJ# @M# ;JEDCPJ# QAHJHCI# JHQDADIH# <OEIOADE>BH@BADQK;<# <@CIHRIJ7# MD<;E;IDI;CB# K;BK>AHJ@EOI;@C# JIOP;HJ# @M# <OEIOADE# P;MMOJ;@C# MA@G# D# EDABHA>J<DEH# GD;CEDCP# <OEIOADE# <@GQEHR# I@#BH@BADQK;<DEEL>AHG@FHP# ;JEDCP# <OEIOAHJ6# ,C# D# ?A@DPHA# IKH@AHI;<DE# MADGHS@AZ7# IK;J# <DJH# JIOPL#<@CIA;?OIHJ#I@#<@CI;CO;CB#PH?DIH#<@C<HAC;CB#IKH#SDLJ#;C#SK;<K#<OEIOADE#AHQA@PO<I;@C#@<<OAJ#IKA@OBK#QA@<HJJHJ#@M#P;MMOJ;@C#DCP#<OEIOADE#DPDQIDI;@C#@A#AH\H<I;@C#@M#@OIJ;PH#;CMEOHC<HJ6#

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

5@A#J@GH#I;GH#DA<KDH@E@B;JIJ#KDFH#AH<@BC;]HP#IKDI#HF;PHC<H#<@C<HAC;CB#IKH#+?@A;B;CDE#@<<OQDI;@C#@M# @MMJK@AH# ;JEDCPJ# @MMHAJ# ;CIA;BO;CB# Q@JJ;?;E;I;HJ# M@A# ?HIIHA# OCPHAJIDCP;CB# IKH# <A;I;<DE#?;@BH@BADQK;<DE#DCP#<OEIOADE# MD<I@AJ#CH<HJJDAL#M@A#JO<<HJJMOE#DCP#HCPOA;CB#<@E@C;JDI;@C#XHB#^@CHJ#U"__Y6# )@GH# ;JEDCPJ7# JO<K# DJ# *DJGDC;D7# KDFH# Q@QOEDI;@CJ#S;IK# D# E@CB# DCP# JO<<HJJMOE# K;JI@AL# @M#;J@EDI;@C6#.IKHAJ7#JO<K#DJ#[DCBDA@@#,JEDCP7#KDP#C@#+?@A;B;CDE#Q@QOEDI;@C#DI#IKH#I;GH#@M#'OA@QHDC#JHIIEHGHCI#?OI#SHAH#@<<OQ;HP#;C#IKH#AHG@IH#QDJI7# ;C#[DCBDA@@#,JEDCP`J#<DJH#M@A#@FHA#UV7VVV#LHDAJ#M@EE@S;CB# ;CJOEDI;@C# X.`0@CC@A# U""!Y6# )I;EE# @IKHAJ# DBD;C7# JO<K# DJ# IKH# SHJIHAC# ;JEDCPJ# @M# *@AAHJ#)IAD;I7# SHAH# D?DCP@CHP# JK@AIEL# DMIHA# ;CJOEDI;@C7# @CEL# I@# ?H# AH>@<<OQ;HP# ;C# IKH# EDJI# MHS#G;EEHCC;D#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####aV

X&DF;P# -'* #02# !VVbY6# [@@EDC# ,JEDCP# @MM# IKH# [;G?HAEHL# <@DJIE;CH# ;C# C@AIK>SHJIHAC# +OJIADE;D# KDJ#HF;PHC<H# M@A#@<<OQDI;@C# MA@G#D?@OI#!c7VVV#LHDAJ# DB@7#QA;@A# I@# IKH# EDJI#BED<;DE#GDR;GOG#X/-2Y7#IKHC#D#QHA;@P#@M#D?DCP@CGHCI#POA;CB#IKH#/-27#M@EE@SHP#?L#AH><@E@C;JDI;@C#MA@G#UV7dVV#LHDAJ#DB@#X.`0@CC@A# U"""Y6# .IKHAJ7# QDAI;<OEDAEL# DE@CB# IKH# NOHHCJEDCP# <@DJI7# KDFH# HF;PHC<H# @M# ;C;I;DE#@<<OQDI;@C#ADCB;CB#MA@G#IKH#HDAEL#I@#IKH#EDIH#1@E@<HCH#X(@?;CJ#U"cbe#9DAZHA#U""Ue#2<%;FHC#U""Ue#1DEE#U"""e#$EG#-'*#02#U""dY6#*KHAH#;J#DEJ@#D#BADPDI;@C#;C#IKH#PHBAHH#@M#;J@EDI;@C#?HISHHC#;JEDCPJ#DCP#IKH#GD;CEDCP6#*KH#*DJGDC;DCJ#DCP#IKH#*;S;#@M#9DIKOAJI#DCP#2HEF;EEH#,JEDCPJ#DQQHDAHP#I@#KDFH#KDP#C@#<@CID<I#S;IK# IKH#GD;CEDCP6#*KH#[HQQHE# ,JEDCPHAJ#@MM# IKH#<HCIADE#NOHHCJEDCP#<@DJI#KDP# E;G;IHP#<@CID<I# S;IK# GD;CEDCPHAJ# DCP# SHAH# QKLJ;<DEEL7# <OEIOADEEL# DCP# E;CBO;JI;<DEEL# P;JI;C<I# MA@G# IKHG#X(@SEDCP# U"""Y6#.IKHA# ;JEDCPHAJ7# JO<K# DJ# IK@JH# MA@G# IKH# JDCP# ;JEDCPJ# @M#2@AHI@C#9DL# DCP# MA@G#5ADJHA#,JEDCP7#KDP#DEG@JI#<@CI;CODE#<@CID<I#S;IK#IKH#GD;CEDCP6##

&DF;P# -'* #02# X!VVbW_bY# DABOH# IKHAH# SHAH# fJLJIHGDI;<# IHAA;I@A;DE# DCP# JHD>?DJHP# HRQDCJ;@CJ# D<A@JJ#GO<K# @M# C@AIKHDJIHAC# +OJIADE;D# POA;CB# IKH# G;P>1@E@<HCHg7# D# PHFHE@QGHCI# J@GH# J<K@EDAJ# I;H# I@#S;PHA#QA@<HJJHJ#@M#J@<;@H<@C@G;<#;CIHCJ;M;<DI;@C#POA;CB#IKH#EDJI#d7VVV#LHDAJ#XHB#/@OADCP@J#U""_Y6#1@SHFHA7# ;C# D# JLCIKHJ;];CB#QDQHA# IKDI# DIIHGQIHP# I@# ;PHCI;ML# <@CJ;JIHCI# QDIIHACJ# ;C# IKH#+?@A;B;CDE#@<<OQDI;@C#@M#+OJIADE;DC#@MMJK@AH#;JEDCPJ7#9@SPEHA#XU""dW#"dhY#<@C<EOPHP#IKDIW##

*KH# <OAAHCIEL# QHA<H;FHP# QDIIHAC# @M# G;P># I@# EDIH>1@E@<HCH# ;JEDCP# OJDBH# JOBBHJIJ# IKDI# KOGDC#?HKDF;@OA#;J#C@I#CH<HJJDA;EL#HRQE;<D?EH#;C#IHAGJ#@M#G@PHEJ#PHA;FHP#MA@G#H;IKHA#<@GG@C#JHCJH7#@A#IKH#?HKDF;@OA#@M#@IKHA#DC;GDE#JQH<;HJ6#*KHAH#DQQHDAJ#I@#?H#C@#AHEDI;@CJK;Q#?HISHHC#IKH#I;GH#@M#@<<OQDI;@C#@M#DC#;JEDCP#DCP#;IJ#P;JIDC<H#MA@G#IKH#GD;CEDCP7#;IJ#AHEDI;@CJK;Q#I@#@IKHA#;JEDCPJ7#IKH# DAHD# @M# IKH# ;JEDCP7# @A# DCL# <@G?;CDI;@C# @M# IKHJH6# *KH#G@JI# @?F;@OJ# <OEIOADE# <@A@EEDAL# I@#;JEDCP# HRQE@;IDI;@C# ;J# IKH# QAHJHC<H# @M#SDIHA<ADMI# DCP# DC# @A;HCIDI;@C# I@SDAPJ#GDA;CH# AHJ@OA<H#HRQE@;IDI;@C#?L#IKH#J@OA<H#Q@QOEDI;@C#@C#IKH#DP\D<HCI#GD;CEDCP6##

.OA#F;HS# ;J# IKDI#BHCHADE;]DI;@CJ#JO<K#DJ#9@SPEHA`J#DCP#&DF;P#-'*#06`J#DAH#KDGQHAHP#?L#D# ED<Z#@M#PHID;EHP#DA<KDH@E@B;<DE#DCP#HIKC@BADQK;<#;CM@AGDI;@C#D?@OI#GDCL#@M#IKH#;JEDCPJ#;C#iOHJI;@C6#,JEDCP#JIOP;HJ# DA@OCP# IKH# <@CI;CHCI# DAH# QA@PO<;CB# OJHMOE# DCP# ;CIHAHJI;CB# AHJOEIJ#SK;<K# DAH# ?HB;CC;CB# I@#AHGHPL# IK;J# J;IODI;@C# XHB# .`0@CC@A# U""!7# U"""e# 8HIK# U"""e# 8HIK# -'* #06# !VVVY7# ?OI# IKH# )@OIK#THEEHJEHL#,JEDCPJ#KDFH#C@I#JHHC#DCL#HRIHCJ;FH#DA<KDH@E@B;<DE#;CFHJI;BDI;@C#HFHC#IK@OBK#IKHL#KDFH#DC#;<@C;<#JIDIOJ#;C#+OJIADE;DC#PH?DIHJ#D?@OI#IKH#CDIOAH#@M#;JEDCP#@<<OQDI;@C#DCP#;CJOEDA;IL#@S;CB#I@#%@AGDC#*;CPDEH`J#Q;@CHHA;CB#DCIKA@Q@E@B;<DE#JIOP;HJ#S;IK#IKH#[D;DP;EI7#DJ#PHID;EHP#?HE@S6#

/01(.#2&*,(#1$$.*3(+4($01($5+('-2$-%&2(3%+-6.*3#(

*KH#THEEHJEHL# ,JEDCPJ7# J@GH#Ud# ;C# COG?HA7# DAH# E@<DIHP# ;C# IKH# J@OIKHAC#-OEM#@M#0DAQHCIDA;D6#*KH#EDABHJI7#2@AC;CBI@C7#;J#hd#ZG#E@CB#DCP#_#I@#!h#ZG#S;PH7#+E@CB#S;IK#FDA;@OJ#JGDEEHA#JOAA@OCP;CB#;JEDCPJ7# ;I# ;J# K@GH# I@# IKH# /DAP;E# QH@QEH6# ,I# ;J# E;CZHP# I@# IKH# GD;CEDCP# ?L# D# COG?HA# @M# JGDEEHA#jJIHQQ;CB>JI@CH`# ;JEDCPJ6# *KHJH# ;CIHAFHC;CB# ;JEDCPJ7# K@GH# I@# IKH# 4DCBZDDE# QH@QEH7# DQQA@D<K# IKH#GD;CEDCP#DI#9DLEHL#3@;CI6#*KHAH# ;J#<EHDA#F;J;?;E;IL#?HISHHC#IKHJH# ;JEDCPJ#DI#DEE#JHDJ@CJ7#S;IK#HDJL#<A@JJ;CBJ#XGDR#a6d#ZG#@M#@QHC#JHDY#HFHC#;C#IKH#PDLJ#@M#IADP;I;@CDE#IADCJQ@AI#?L#I;G?HA#ADMIJ#XA#0B##;C#/DAP;E7#A#0B4#;C#4DCBZDDEY7#GDPH#?L#EDJK;CB#I@BHIKHA#?O@LDCI#E@BJ#S;IK#K;?;J<OJ#A@QH6##

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

# aU

#

'DJI# MA@G#9DLEHL# 3@;CI# E;HJ# D# JH<@CP# BA@OQ# @M# ;JEDCPJ7# IKH# )@OIK#THEEHJEHLJ7# P@G;CDIHP# ?L# IKH#EDABHJI# ;JEDCP7#9HCI;C<Z7#DCP#K@GH#I@# IKH#[D;DP;EI#QH@QEH6#*KH#JHD#BDQ#?HISHHC#IKH#GD;CEDCP#DCP#IKH# )@OIK# THEEHJEHLJ# ;J# G@AH# JO?JIDCI;DE# IKDC# M@A# IKH# %@AIK# THEEHJEHLJ7# DCP# QAHJHCIHP# HC@OBK#<KDEEHCBHJ#I@#IADP;I;@CDE#ADMI#SDIHA<ADMI#XA#0B4# ;C#[D;DP;EIY# IKDI# IKH#F@LDBH#I@#DCP#MA@G#IKH#)@OIK#THEEHJEHLJ#SDJ#C@I#OCPHAIDZHC# E;BKIEL6#1@SHFHA7#@ADE#D<<@OCIJ#?L# IK@JH#?@AC# ;C# IADP;I;@CDE# I;GHJ#XQAH>U"bdY# JOBBHJI# IKDI# J@GH# ;CP;F;PODEJ#S@OEP#KDFH#OCPHAIDZHC# IKH# AHIOAC#F@LDBH#D<A@JJ#D#UV6d#ZG#JIAHI<K#@M#@QHC#JHD#OQ#I@#IKAHH#@A#M@OA#I;GHJ#;C#IKH#<@OAJH#@M#D#E;MHI;GH#X'FDCJ#!VVd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iOHCI#<@CID<I#S;IK#IKH#GD;CEDCP7#SK;EH#<@CID<IJ#?HISHHC#IKH#)@OIK#THEEHJEHLJ#DCP#IKH#GD;CEDCP#SHAH#EHJJ#<@GG@C6;;##

+EE# ;JEDCPJ# ;C# IKH#AHB;@C#DAH# E@S>EL;CB7#DCP#DAH#DI# IKH#JHG;>DA;P#GDAB;C#@M# IKH#G@CJ@@CDE# IA@Q;<J6#+EE#AHJ;PHCI#BA@OQJ#PHJ;BCDIH#IKH#GDA;CH#HCF;A@CGHCI#DJ#P;JI;C<I;FH#MA@G#;CEDCP#DAHDJ6#5@A#HRDGQEH#IKH# /DAP;E# QH@QEH# @M#2@AC;CBI@C# ,JEDCP# <EDJJ;ML# IKH;A# EDCP# DCP# JHDJ# ;CI@# IS@# <DIHB@A;HJ7# j;CJ;PH#<@OCIAL`#DCP#j@OIJ;PH#<@OCIAL`#X2HGG@II#U"caW#abY6#*KH#j;CJ;PH#<@OCIAL`#<@CJ;JIJ#@M#SKDI#<DC#?H#IHAGHP# IKH# ;CIHA;@A# EDCP# JLJIHGJ7# <@CJ;JI;CB# @M# IOJJ@<Z#BADJJEDCPJ7# @QHC# E@S#HO<DELQI#S@@PEDCPJ#DCP# J<AO?EDCPJ6# *K;J# EDCPJ<DQH# ;J# P;JI;C<I# MA@G# IKH# AHEDI;FHEL#G@AH# AH<HCIEL# M@AGHP# <@DJIDE# EDCP#JLJIHGJ7#SK;<K#DAH#ZC@SC#DG@CB#IKH#/DAP;E#QH@QEH#DJ#j@OIJ;PH#<@OCIAL`6#*KH#<@DJIDE#DAHDJ#DAH#GDPH#OQ#@M#I;PDE#MEDIJ7#JDCP>?DJHP#<KHC;HAJ#DCP#?HD<K#A;PBHJ7#DCP#;CIHAJQHAJHP#<E;MMJ7#?@OEPHA#?HD<KHJ7#@MM>JK@AH#SDFH><OI# QEDIM@AGJ# DCP# AHHMJ6# ,I# ;J# ;C# IKH#@OIJ;PH# <@OCIAL# IKDI# IKH#G@JI# ;CIHCJH#BH@BADQK;<#CDG;CB#DCP#?@OCPDAL>GDZ;CB#@<<OAJ7#AHMEH<I;CB#IKH#<@C<HCIADI;@C#@M#M@@P#DCP#MAHJKSDIHA#AHJ@OA<HJ7#JD<AHP#J;IHJ#DCP#<DGQJ;IHJ6##

+J# D# AHJOEI7# IKH# H<@C@GL# @M# DEE#THEEHJEHL# ,JEDCP# BA@OQJ# ;J# DPDQIHP# I@# ?HD<K# DCP# JIADCP# M;JK;CB7#DOBGHCIHP#?L#IKH#KOCI;CB#@M#IOAIEH#DCP#POB@CB#;C#IKH#JKDEE@S#SDIHAJ#DCP#JGDEE#JK@DEJ#DCP#;JEDCPJ#IKDI# AHD<K# J@GH# P;JIDC<H# @OI# I@# JHD6# ,CPHHP7# J@# A;<K# DAH# IKHJH# AHJ@OA<HJ# IKDI# *;CPDEH# JOBBHJIHP#

7.3-%1( 89# THEEHJEHL# ,JEDCPJ# DCP# IKH#GD;CEDCP#<@DJI#JK@S;CB#IKH#IHAA;I@A;HJ#@M#IKH#M@OA#+?@A;B;CDE#JIOPL#BA@OQJ6#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####a!

XU"__W!b"Y# IKH#Q@QOEDI;@C#PHCJ;IL# ;C# IKH#)@OIK#THEEHJEHLJ# I@#?H#f@CH#@M# IKH#K;BKHJI#ZC@SC#M@A#D#E;F;CB#JI@CH#I@@E>OJ;CB#QH@QEH#PHQHCP;CB#@C#M@ADB;CB#M@A#IKH;A#HR;JIHC<Hg6##

:*;.%+*<1*$&2(0.#$+%=...(

*KH#THEEHJEHL# ,JEDCP# AHB;@C#KDJ# JHHC# JO?JIDCI;DE# <KDCBHJ# I@# ;IJ# <@DJIE;CH# J;C<H#UV7VVV#LHDAJ# DB@#SKHC#IKH#C@S#-OEM#@M#0DAQHCIDA;D#SDJ#GHAHEL#D#EDABH#;CEDCP#EDZH#X/DZH#0DAQHCIDA;DY7#<OI#@MM#MA@G#IKH#+ADMOAD#)HD#DCP#*@AAHJ#)IAD;I#?L# E@S>EL;CB# JDFDCCD7# DCP#@<<OQL;CB#@CEL#KDEM# IKH#DAHD#@M# IKH#<OAAHCI#-OEM6#+I#IKDI#I;GH#IKH#THEEHJEHL#,JEDCPJ#S@OEP#KDFH#?HHC#E@S#K;EEJ#;C#PAL#<@OCIAL7#D#<@OQEH#@M#KOCPAHP#Z;E@GHIAHJ#;CEDCP6#(DQ;PEL#A;J;CB#JHDJ#;C#IKH#HDAEL#1@E@<HCH#?AHD<KHP#M;AJI#IKH#+ADMOAD#EDCP#<@AA;P@A#XDA@OCP#c6d#ZDY7#IKHC#IKH#*@AAHJ#)IAD;I#X?L#DA@OCP#h#ZDY7#<@CFHAI;CB#/DZH#0DAQHCIDA;D#XJHH#5;B6#!Y#DCP#;IJ#JOAA@OCPJ#;CI@#D#JKDEE@S#-OEM6#+I#IKH#QHDZ#AHEDI;FH#JHD#EHFHE7#DA@OCP#d6a#ZD#IKH#THEEHJEHLJ#S@OEP#KDFH#?HHC#QDAI;DEEL#JO?GHABHP7#DCP#JO?JIDCI;DEEL#MOAIKHA#MA@G#IKH#GD;CEDCP#IKDC#DI#QAHJHCI6#*KH#JO?JHiOHCI#MDEE#;C#JHD#EHFHE#S@OEP#KDFH#AHJI@AHP#IKHG#I@#IKH;A#<OAAHCI#@MMJK@AH>;JEDCP#JIDIOJ#MA@G#DA@OCP#M@OA#G;EEHCC;D#DB@6##

*KHJH#JHD>EHFHE#<KDCBHJ#JOBBHJI#I@#OJ#D#IKAHH>QKDJH#S@AZ;CB#J<HCDA;@#;C#SK;<K7#XDY# IKH# IHAG;CDE# 3EH;JI@<HCH# ;CKD?;IDCIJ# @M# IKH# DAHD# S@OEP# KDFH# @A;B;CDEEL# DPDQIHP# I@# ;CEDCP#

A;FHA;CH# E;F;CB# DJ# IKH# DAHD# S@OEP# KDFH# ?HHC# S;IK;C# IKH# JHG;>DA;P# ]@CH# ;C# IKH# EDJI# BED<;DE#X/DG?H<Z#:#0KDQQHEE#!VVUYe#

X?Y#DMIHA#IKH#EDJI#BED<;DE#GDR;GOG7#A;J;CB#JHDJ#QDJJHP#IKA@OBK#I@PDL`J#EHFHEJ#D?@OI#_7VVV#ZD#DCP#<@CI;COHP#I@#A;JH#OCI;E#D?@OI#d7aVV#ZD#IKHC#MDEE#QHAKDQJ#U6_#G#?HISHHC#d7VVV#DCP#a7bVV#ZDe#IKH#THEEHJEHLJ# ,JEDCPJ7# J@# <AHDIHP# SHAH# SHEE>@MMJK@AH7# ?OI# S@OEP# JI;EE# KDFH# Q@IHCI;DE# M@A#@<<OQDI;@C#POA;CB#IKH#G;P>1@E@<HCHe;F#DCP#

X<Y# M@EE@S;CB# D# AHPO<I;@C# @M# IKH# AHEDI;FH# JHD>EHFHE# @FHA# IKH# EDJI# MHS#G;EEHCC;D7# IKH#THEEHJEHLJ#S@OEP# KDFH# ;C<AHDJHP# JE;BKIEL# ;C# JOAMD<H# DAHD7# S;IK# J@GH# DPP;I;@CDE# JGDEEHA# ;JEDCPJ#QA@F;P;CB#Q@IHCI;DE#@QQ@AIOC;I;HJ#M@A#AH<@E@C;]DI;@C#MA@G#IKH#GD;CEDCP6#

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

# aa

#7.3-%1(>9#*KH# ILQ;<DE#!JK# IADQ#@M# IKH#THEEHJEHL# ,JEDCPJ#S;IK# D# J;CBEH>SDEE# DCP# EDL@OI# DP\OJIHP# I@# JO?JIADIH# <@CI@OAe#E@<DIHP# @OIJ;PH# D# MA;CBH# @M#GDCBA@FHJ7#+EEHC# ,JEDCP# X3K@I@#?L#0@CCDK#:# ^@CHJ# @M# IKH#$C;FHAJ;IL# @M#%HS#'CBEDCP#U!=d=c!6Y#

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iOHC<H7#SK;<K#;J#J;GQEL#;CMHAAHP#MA@G#IKH#HCF;A@CGHCIDE#K;JI@AL6##

*KH#M@EE@S;CB#<A;I;iOH#@M#;PHDJ#D?@OI#IKH#THEEHJEHL#,JEDCPJ#DCP#IKH#I;G;CB#@M#QKLJ;<DE#;J@EDI;@C#DCP#KOGDC#AHJQ@CJHJ#S;EE#;PHCI;ML#IKH#DAHDJ#S;IK#Q@IHCI;DE7#OJ;CB#D#COG?HA#@M#<A@JJ>E;CZ;CB#JIADCPJ#@M#BHCHI;<7#E;CBO;JI;<7#DCIKA@Q@E@B;<DE7#DA<KDH@E@B;<DE#DCP#HCF;A@CGHCIDE#AHJHDA<K6#'D<K#JIADCP#;J#JHHC#DJ#KDF;CB#;CP;F;PODE#J;BC;M;<DC<H#?OI#IKHL#DEJ@#DAH#?H;CB#PHE;?HADIHEL#;CIHBADIHP#S;IK;C#DC#@CB@;CB#AHJHDA<K#QA@BADGGH# I@#QA@F;PH#JLCHAB;JI;<#@OI<@GHJ6#+EIK@OBK#<@GG@C# ;C# IKH#3D<;M;<# XHB#[;A<K#!VVVY7#;CIHBADIHP#DQQA@D<KHJ#JO<K#DJ#IK;J#DAH#JI;EE#ADAH#;C#+OJIADE;D#XIK@OBK#JHH#2<0@CFHEE#:#'FDCJ#U""_#M@A#D#FDEOD?EH#;C;I;DE#M@ADLY6#

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

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####ab

@<HDC>B@HAJ#GDZ;CB#E@CB#F@LDBHJ7#;I#;J#D#KHEQMOE#Q@;CI#MA@G#SK;<K#I@#IK;CZ#D?@OI#HDAE;HA#Q@QOEDI;@C#G@FHGHCIJ#DA@OCP#C@AIKHAC#)DKOE#X'FDCJ#!VV!7#!VVdY6#

?%1;.+-#(&%3-<1*$#(&"+-$(@1221#21=()#2&*,#(+''-6&$.+*(&*,(.#+2&$.+*(

*KH#[D;DP;EI#SHAH# JIOP;HP# ?L# IKH# DCIKA@Q@E@B;JI#%@AGDC#*;CPDEH# DCP# <@EEHDBOHJ# MA@G# IKH#)@OIK#+OJIADE;DC#2OJHOG#;C# IKH#HDAEL#U"hVJ6#*;CPDEH#<DGH#I@#AHBDAP# IKH#[D;DP;EI#DJ#D#AHE;<I#Q@QOEDI;@C#SK;<K# KDP# AHGD;CHP# ($* %('47# ?OI# ;J@EDIHP7# J;C<H# IKH# G;P>1@E@<HCH7# GD;CID;C;CB# SDIHA<ADMI#IH<KC@E@BL# DCP# E;II@ADE# HRQE@;IDI;@C# JIADIHB;HJ# IKDI# KDP# C@I# <KDCBHP# JO?JIDCI;DEEL# J;C<H# IKH# M;AJI#KOGDC#<@E@C;]DI;@C#@M#+OJIADE;DW#

+#Q@JJ;?;E;IL#HR;JIJ#IKDI#IKH#[D;DP;EI#DAH#PHJ<HCPDCIJ#@M#D#FHAL#@EP#QH@QEH#SK@#@<<OQ;HP#D#C;<KH#DE@CB#IKH#OCDIIAD<I;FH#JK@AHJ#@M#IKH#)DKOE#)KHEM#DJ#MDA#?D<Z#DJ#IKH#EDIHA#JIDBHJ#@M#IKH# EDJI# BED<;DI;@C# DCP# M@OCP# AHMOBH#@C# IKH;A# ;JEDCP#?L# AHIAHDI;CB# J@OIK# DJ# IKH#BADPODE#M;EE;CB#@M#IKH#-OEM#@M#0DAQHCIDA;D#QA@<HHPHP#POA;CB#IKH#5EDCPA;DC#HFHCIJ#?HISHHC#UV7VVV#DCP#hVVV#LHDAJ#DB@6#X*;CPDEH#U"__W#!db6Y#

*K;J#;CFHJI;BDI;@C#AHJOEIHP#;C#D#ADCBH#@M#;CMEOHCI;DE#QDQHAJ#@C#IKH#J;BC;M;<DC<H#@M#IK;J#BA@OQ#I@#IKH#JIOPL#@M#IKH#G;<A@HF@EOI;@C#@M#KOGDC#Q@QOEDI;@CJ7#OJ;CB#BHCHI;<7#<OEIOADE#DCP#@IKHA#PDID#X0OAID;C#-'*#02*U"hhe#*;CPDEH#U"h!D7?7# U"__e#);GG@CJ#-'*#02# U"h!7#U"hbY6#*;CPDEH`J#PDID# DCP#DABOGHCIJ7# M@A#;CJIDC<H7#M;BOAH#QA@G;CHCIEL#;C#P;J<OJJ;@CJ#D?@OI#+?@A;B;CDE#;J@EDI;@C#DCP#<@E@C;JDI;@C#XHB#;C#^@CHJ#U"_"e# [;AZ# U"cUe# 9;APJHEE# U""ae# 9@SPEHA# U""de# 5E@@P# U""he# TK;IH# U""_Y6# *;CPDEH`J# @SC#JIDIHGHCIJ# D?@OI# IKH# [D;DP;EI# ?H<DGH# ;C<AHDJ;CBEL# HRIAHGH# @FHA# I;GH# DCP# <OEG;CDIHP# ;C# IKH#JIDIHGHCI# IKDI# IKH# [D;DP;EI# GDL# SHEE# <@GQDAH# S;IK# IKH# TDP\DZ# QH@QEH# @M# 3EH;JI@<HCH# ^DFD7# @M#SK@G7#KH#IK@OBKI7#GDL#?H#AHE;<I#JOAF;F@AJ#X*;CPDEH#U"cUW#U_"dY6#*;CPDEH`J#<DJH#M@A#D<OIH#;J@EDI;@C#SDJ# ?DJHP# @C# H;BKI# E;CHJ# @M# HF;PHC<H7# G@JI# AHJOEI;CB# MA@G# D# <@GQDA;J@C# S;IK# IKH# /DAP;E# @M#2@AC;CBI@C# ,JEDCP#DCP7# ;CP;AH<IEL7#S;IK# IKH#-DCBBDE;PD#@M# IKH#GD;CEDCP#<@DJI6#1;J# M;AJI# IS@# XDCP#JHHG;CBEL#G@JI#QHAJODJ;FHY#Q;H<HJ#@M#HF;PHC<H#SHAH#IKH#P;JI;C<I;FH#QKLJ;<DE#<KDAD<IHA;JI;<J#DCP#IKH#?E@@P#ILQH#@M#IKH#[D;DP;EIe#IKH#AHGD;C;CB#HF;PHC<H#SDJ#EDABHEL#<OEIOADE#;C#;IJ#CDIOAH7#DCP#<@GQA;JHP#IKH# P;JI;C<I# [D;DP;EI# EDCBODBH7# IKH;A# P;JI;C<I# IHAA;I@A;DE# @ABDC;JDI;@C7# IKH;A# ED<Z# @M# D# JO?>JH<I;@C#JLJIHG7# IKH;A# OC;iOH#GDEH# ;C;I;DI;@C# A;IODEJ7# IKH;A# OC;iOH7# ;GQ@FHA;JKHP#GDIHA;DE# <OEIOAH# DCP# IKH;A#ADMI#IADFHE6##

3AHE;G;CDAL# DCDELJ;J# @M# IKHJH# DABOGHCIJ# ?L# J@GH# @M# IKH# <OAAHCI# DOIK@AJ# X2HGG@II# U"c!e# 'FDCJ#!VV!7#!VVdY7#KDJ#AHFHDEHP7#K@SHFHA7#IKDI#GDCL#DAH#C@I#SHEE#M@OCPHP7#DJ#IKH#M@EE@S;CB#HRDGQEHJ#S;EE#JK@S6##

/01(31*1$.'(1;.,1*'1(

*KH#G@JI# QHAJODJ;FH# DABOGHCI# @M# *;CPDEH# DCP# K;J# <@EEHDBOHJ# POA;CB# IKH# U"hVJ# DCP# _VJ#SDJ# IKH#HF;PHC<H#<@C<HAC;CB#P;MMHAHC<HJ#;C#BHCHI;<#GDAZHAJ#?HISHHC#IKH#[D;DP;EI#DCP#IKH#@IKHA#+?@A;B;CDE#BA@OQJ6#1@SHFHA7#D#G@AH#AH<HCI#AHF;HS#@M#IKH#BHCHI;<#HF;PHC<H#XTK;IH#U""_e#'FDCJ#!VV!Y#<@CM;AGJ#IKDI#SKHAHDJ#IKH#[D;DP;EI#DAH#DC#D?HAADCI#Q@QOEDI;@C#BHCHI;<DEEL7#;I#;J#C@S#D#CD;FH#;CIHAQAHIDI;@C#@M#IKHJH#PDID#I@#QED<H#IKH#BA@OQ#DJ#IKH#HDAE;HJI#?ADC<K;CB>@MM#MA@G#IKH#S;PHA#+OJIADE;DC#Q@QOEDI;@C7#DJ#;C#*;CPDEH`J#U"__#G@PHE6#T;IK#FHAL#JGDEE#Q@QOEDI;@C#J;]HJ7# IKH# ;C<AHDJHP#<@CIA;?OI;@C#@M# M@OCPHA#HMMH<IJ#DCP#BHCHI;<#PA;MI#;GQE;HJ#IKDI#IAHHJ#<@CJIAO<IHP#I@#JK@S#BHCHI;<#P;JIDC<H#<DCC@I#?H#IDZHC#DJ#P;AH<I# AHMEH<I;@CJ#@M# QKLE@BHCL6#+# JGDEE# M@OCP;CB#Q@QOEDI;@C# X@M7# JDL7# D#P@]HCY#S@OEP# ;CHF;ID?EL#<@CID;C#D#JZHSHP#JHEH<I;@C#@M#BHCHJ#MA@G#IKH#@A;B;CDE#<@DJIDE#Q@QOEDI;@C7#DCP#;C#D#JGDEE#Q@QOEDI;@CF#CHFHA#HR<HHP;CB#D?@OI#UdV#XQDAI;<OEDAEL#B;FHC#HRIHCPHP#Q@ELBDGL#AHJOEI;CB#;C#J@GH#GHC#KDF;CB#Ud#S;FHJY# IKHAH# ;J#DGQEH#J<@QH#M@A#PA;MI6#*K;J#GHDCJ#IKDI# IKH#BHCHI;<#P;MMHAHC<HJ#DAH#DEJ@#<@GQDI;?EH#S;IK#IKH#QA@Q@J;I;@C#@M#AH<HCI#JHIIEHGHCI#@M#IKH#)@OIK#THEEHJEHLJ#?L#D#JGDEE#M@OCP;CB#Q@QOEDI;@C6#

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

# ad

/01(2.*3-.#$.'(61%#61'$.;1(

*KH# JIOPL# DAHD# ;C<@AQ@ADIHJ# M@OA# EDCBODBHJW# /DAP;E7# 4DCBZDDE7# -DCBBDE;PD# X@A# 4OZOEIDY# DCP#[DLDAP;EP# XIKH# EDCBODBH# @M# IKH# [D;DP;EI# BA@OQY6# *KH;A# E;CBO;JI;<# <EDJJ;M;<DI;@C# KDJ# ?HHC#QA@BAHJJ;FHEL#AHM;CHP#?L#.`-ADPL#-'*#02# XU"hhY7#[HHC#XU"caY#DCP#'FDCJ#XU"cd7#U""dY7#SK@#BA@OQ#IKHG#I@BHIKHA#DJ#IKH#*DCBZ;<#EDCBODBHJ#5'#$CD##GHDCJ#QHAJ@C#;C#DEE#M@OA#EDCBODBHJY6#*KHJH#DOIK@AJ#KDFH#JK@SC#IKH#HRIHCI#DCP#CDIOAH#@M#IKH#P;FHAJ;M;<DI;@C#@M#IKHJH#EDCBODBHJ#?DJHP#@C#IKH#DJJOGQI;@C#IKDI#IKHL#PHA;FHP#MA@G#D#<@GG@C#EDCBODBH7#SK;<K#KDJ#?HHC#IHAGHP#j3A@I@>*DCBZ;<`6#

#7.3-%1( A9#2DQ# @M# J@OIKHAC# HCP# @M# )SHHAJ# ,JEDCP# ;C# IKH# F;<;C;IL# @M# ;CJQH<I;@C# 1;EE# DCP#2D<&@CDEP# 3@;CI# JK@S;CB#HCF;A@CGHCIDE#OC;IJ#S;IK#+?@A;B;CDE#BH@BADQKL#DCP#IKH#E@<DI;@C#@M#IS@#M;JK#IADQ#J;IHJ#DI#%BDIKDEP#DCP#[D?DA6#%@IH#IKH#OJH#@M#QDAIL#SDEEJ#DCP#OCPOEDI;CB#SDEEJ#;C#IKH#IADQ#PHJ;BCJ6#X)@OA<HW#2DQ#@M#(;CBOAACB#?L#3DOE#2HGG@II#U"c!#GDPH#S;IK#&DAS;C#2@@P@@CDIK;#DCP#+AIKOA#3DOE6##

*KH#;CIHACDE#<EDJJ;M;<DI;@C#@M#IKH#*DCBZ;<#EDCBODBHJF;#;J#AHEHFDCI#I@#?O;EP;CB#D#?A@DP#<KA@C@E@BL#@M#IKH# JHQDADI;@C# DCP# P;FHABHC<H# @M# IKH# ;CP;F;PODE# EDCBODBHJ# DCP# I@# DJJHJJ;CB# IKH# JIDB;CB# @M#<@E@C;]DI;@C# ;CI@# IKH# THEEHJEHL# ,JEDCPJ6# 'FDCJ# DABOHJ# XU"cd7# U""dY# IKDI# IKH# /DAP;E# EDCBODBH#P;FHABHP# M;AJI# MA@G# IKH# @A;B;CDE# 3A@I@>*DCBZ;<# EDCBODBH# DCP# KDJ# OCPHAB@CH# IKH# G@JI# PADJI;<#<KDCBHJW#4DCBZDDE#DCP#[DLDAP;EP#JHQDADIHP#EDIHA#MA@G#-DCBBDE;PD#;C#D#J;G;EDA#SDL#DCP#AHGD;C#DJ#IS@#P;DEH<IJ#@M#@CH# EDCBODBH6#-DCBBDE;PD#AHGD;CHP# IKH#G@JI#<@CJHAFDI;FH# EDCBODBH7# AHID;C;CB# IKH#G@JI#DIIA;?OIHJ#@M#3A@I@>*DCBZ;<6#,I#;J#IKOJ#IKH#j@PP#@CH#@OI`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cdW# !VY# KDJ# HJI;GDIHP# IKDI# IKH# [D;DP;EI#G;BADIHP# I@# IKH# )@OIK# THEEHJEHLJ# ?HISHHC# UVVV# DCP# dVV# LHDAJ# DB@7# <@AAHJQ@CP;CB# S;IK# IKH#JHQDADI;@C#@M#IKH#[D;DP;EI#EDCBODBH6#+A<KDH@E@B;<DE#DCP#@IKHA#<@AA@?@ADI;CB#HF;PHC<H#;J#AHiO;AHP#I@#IHJI# IKHJH# HJI;GDIHJ6#+EIK@OBK# JO<K# HF;PHC<H# ;J# E;ZHEL# I@# ?H# E;G;IHP7# D# ED<Z#@M# HDAEL# PDIHJ# MA@G#D#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####ah

COG?HA# @M# J;IHJ# S@OEP# JOQQ@AI# IKH# DABOGHCI7# QDAI;<OEDAEL# ;M# <@OQEHP# S;IK# BH@G@AQK@E@B;<DE#HF;PHC<H#DJ#SDJ#IKH#<DJH#S;IK#IKH#;CFHJI;BDI;@C#@M#9DLEHL#3@;CI#@C#IKH#DP\D<HCI#GD;CEDCP#X(@?;CJ#-'*#02#U""cY6##

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dV# EHR;<DE# HEHGHCIJ# ;C# E-F(($6#-ADGGDI;<DEEL# IKH# IS@# AHB;JIHAJ# DAH# ;PHCI;<DE7# HR<HQI# M@A# JE;BKI# P;MMHAHC<HJ# ;C# IKH# M@AG# @M# J@GH#JOMM;RHJ6F;;;#/@<DE#IADP;I;@C#DIIA;?OIHJ#IKH#@A;B;C#@M#E-F(($#I@#DC#DC<HJIADE#M;BOAH#ZC@SC#DJ#G#0',#""#Xj4HEE@S#*AHFDEEL`Y7# DCP#1DEH# XU"c!W# aUY# JIDIHP# IKDI# fIKH#SK@EH# JLJIHG# B;FHJ# IKH# ;GQAHJJ;@C# @M#?H;CB#DC#;CFHCI;@Cg6;R##

/01(&*$0%+6+2+3.'&2(61%#61'$.;1(

+# EDABH# ?@PL# @M# DCIKA@Q@E@B;<DE# AHJHDA<K# D?@OI# IKH# THEEHJEHL# ,JEDCPJ# XDE?H;I# GO<K# @M# ;I#OCQO?E;JKHPY# KDJ# D<<OGOEDIHP# J;C<H# IKH# I;GH# @M# *;CPDEH`J# JIOPL# DCP# ;CP;<DIHJ# D# G@AH# <@GQEHR#Q;<IOAH#IKDC#KH#QA@Q@JHP6R##

,C# IKH# M;AJI# ;CJIDC<H# SH# GOJI# JIAHJJ# IKDI# IKH# <OEIOAHJ# @M# IKH# M@OA# EDCBODBH# BA@OQJ# P;JQEDL# GDCL#<@GG@CDE;I;HJ#AHMEH<I;CB#IKH;A#DPDQIDI;@C#I@#<@DJIDE#E;MHJILEHJ6#0@DJIDE#QED<HJ#KDFH#DESDLJ#?HHC#OJHP#M@A#KOCI;CB#DCP#<@EEH<I;CB#JHD#M@@PJ#XSK;<K#;C#IKH#!UJI#<HCIOAL#<@CI;COH#I@#<@CIA;?OIH#JO?JIDCI;DEEL#I@# IKH# E@<DE# P;HIYe# AHJ@OA<HJ# @?ID;CHP# ;C<EOPH# IOAIEH7# POB@CB7# M;JK7# @LJIHAJ7# JKHEEM;JK# DCP# <AD?J#X2HGG@II# :# *A;BBHA# U""cW# UU!>UU_Y6# *KA@OBK@OI# IKH# AHB;@C7# IADP;I;@CDE# AHJ@OA<H# BDIKHA;CB#D<I;F;I;HJ#;C#<@DJIDE#P@GD;CJ#DAH#BHCHADEEL#HCIS;CHP#<E@JHEL#S;IK#IKH#JQ;A;IODE#MHDIOAHJ#@M#jJDEISDIHA#<@OCIAL`6# *KH# J@<;@H<@C@G;<# ;GQ@AIDC<H# @M# IKH# JHD# DCP# <@DJIDE# EDCP# JLJIHGJ7# HJQH<;DEEL# @C# IKH#;JEDCPJ7# <@GQEHGHCIJ# IKH# ;CIHCJ;FH#?@P;HJ#@M# AHE;B;@OJ#ZC@SEHPBH#D?@OI# jJDEISDIHA#<@OCIAL`6#*K;J#DJQH<I#@M#IKH#;CP;BHC@OJ#<OEIOAHJ#;C#IK;J#DAHD#<DC#?H#AHMHAAHP#I@#E@<DEEL#DJ#j)HD#/DS`#@A#j)DEISDIHA#/DS`6# ,I# ;J# JD;P# I@# <@GH# MA@G# DC# DC<HJIADE# I;GH# @M# <AHDI;@C# ZC@SC# DJ# jIKH# &AHDG;CB`# DCP#;C<@AQ@ADIHJ#?HE;HMJ#<@C<HAC;CB#IKH#M@AGDI;@C#@M#IKH#<@DJIDE#HCF;A@CGHCI#?L#DC<HJIADE#?H;CBJ#SK@#EHMI# JD<AHP# HCHAB;HJ# ;C# QDAI;<OEDA# J;IHJ6# *KHJH# HCHAB;HJ# <DC# ?H# OJHP# M@A# <DIDEL];CB# IKH# MHAI;E;IL# @M#QDAI;<OEDA# DC;GDE# JQH<;HJ# @A#GHIH@A@E@B;<DE# QKHC@GHCD6# ,CP;F;PODEJ# IDZH# @C# D# QDAI;<OEDA# I@IHG;<#;PHCI;IL#DMIHA#IKH#QKHC@GHC@C#DJJ@<;DIHP#S;IK#IKH#QDAI;<OEDA#J;IH#S;IK#SK;<K#IKHL#DAH#DJJ@<;DIHP6#+#Q@IHCI#DCP#QHAFDJ;FH#HCI;IL#;C#IKH#JHD#;J#!,4A#',4#IKH#(D;C?@S#)HAQHCI7#SK@#QOC;JKHJ#KOGDCJ#M@A#?AHDZ;CB# IKH# )HD# /DS6# *KH# THEEHJEHL# ,JEDCPHAJ# K@EP# D# EDABH# ?@PL# @M# <OJI@GDAL# ZC@SEHPBH#<@C<HAC;CB#IKH#GDA;CH#HCF;A@CGHCI7#;IJ#QEDCIJ#DCP#DC;GDEJ7#IKH#SHDIKHA7#I;PHJ#DCP#IKH#?HKDF;@OA#@M#IKH# JHDJ6#*KHAH# ;J# D# PHID;EHP# <EDJJ;M;<DI;@C#@M# IKH# JHDJ@CDE# <L<EH7# DCP#HRIHCJ;FH#ZC@SEHPBH#@M# IKH#CDIOAH#@M#@MMJK@AH#S;CPJ7#IKH#G@FHGHCIJ#@M#M;JK#J<K@@EJ7#IKH#I;GHJ#@M#IKH#MDIIHC;CB#@M#M;JK#DCP#IKH#AHQA@PO<I;@C#@M# JHD#DC;GDEJ6#+J#SHEE#DJ#FDA;@OJ# IH<KC;iOHJ#OJHP# I@#<DI<K#JHD# AHJ@OA<HJ7# IKHAH#DAH#IADP;I;@CDE#QAD<I;<HJ#DJJ@<;DIHP#S;IK#IKH#<@CJOGQI;@C#@M#<HAID;C#JQH<;HJ6#5@A#HRDGQEH7#?OI<KHA;CB#@M#POB@CB# SDJ# D# AOEH>B@FHACHP# HRHA<;JH# IKA@OBK@OI# IKH# AHB;@C7# S;IK# P;MMHAHCI# QDAIJ# @M# IKH# DC;GDE#;PHDEEL#?H;CB#P;JIA;?OIHP#I@#QH@QEH#@M#P;MMHAHCI#JIDIOJ#X2HGG@II#:#*A;BBHA#U""cY6#

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

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

# a_

IHCOAH#S;IK#QDIA;M;E;DE#A;BKIJ#DJ#D#JH<@CPDAL#GH<KDC;JG6#,C#?A@DP#IHAGJ#IK;J#;CF@EFHJ#D#SHJI>I@>HDJI#J;GQE;M;<DI;@C#@M#Z;CJK;Q#JLJIHGJ7#S;IK#IKH#JGDEEHA>J<DEH#[D;DP;EI#J@<;HIL#KDF;CB#IKH#G@JI#MEHR;?EH#DAADCBHGHCIJ6##

#7.3-%1(B9#*S@#EHCBIKJ#@M#SDEE#<@CCH<IHP#I@#D#JIDCP#@M#GDCBA@FH#IAHHJ7#9DLEHL#,JEDCP6#,J#IK;J#@CH#<@CI;CO@OJ#SDEE#DCP#;M#J@7#;J#;I#@CH#@A#IS@#IADQJk#X3K@I@#?L#0@CCDK#DCP#^@CHJ#@M#$C;FHAJ;IL#@M#%HS#'CBEDCP7#U!=d=c!6Y##

+# J;G;EDA# SHJI>I@>HDJI# J;GQE;M;<DI;@C# BHCHADEEL# DQQE;HJ# I@# GDIHA;DE# <OEIOAH6# *KH# /DAP;E# KDP# D#AHQHAI@;AH# @M# J@GH# hd# @A# G@AH# DAIHMD<IJ7# SK;EH# IKH# [D;DP;EI# AHQHAI@;AH# HCID;EHP# D?@OI# !c# ;IHGJ#X2HGG@II# U"c!Y6# +AIHMD<IJ# ;C# <@GG@C# ;C<EOPHP# IKH# ADMI7# QDPPEH7# ?DAZ# I@A<K7# JKHEE# ZC;MH7# JI@CH#@LJIHA#KDGGHA7#JQHDAIKA@SHA7#?DAZ#P;JK7#M;BKI;CB#JI;<Z7#M;AH>JI;<ZJ#DCP#JGDEE#KDCP>CHIJ6#9@IK#BA@OQJ#DEJ@#OJHP#JI@CH>SDEEHP#M;JK#IADQJ6#/DAP;E#DAIHMD<IJ#S;IK#C@#[D;DP;EI#Hi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a6a#G#E@CB7#SK;<K#KDP#D#IS@>Q;H<H#JKDMI7#DJ#SHEE#DJ#D#JHQDADIH#KHDP6#X2HGG@II#U"ch6Y#

*@#MOAIKHA#HRHGQE;ML#IKHJH#P;MMHA;CB#G@PHJ#@M#<OEIOADE#PHA;FDI;@C7#GHCI;@C#<DC#?H#GDPH#@M#IKH#GDCL#JIAO<IOADE# J;G;EDA;I;HJ# ?HISHHC# /DAP;E=4DCBZDDE# DCP# DP\D<HCI# GD;CEDCP# X-DCBBDE;PD7# TDDCL;7#-DAASD7# 4DCLOSDY#GDEH# ;C;I;DI;@C# <HAHG@C;HJ# IKDI# ;CF@EFHP# A;IODE# <;A<OG<;J;@C# DCP# JO?;C<;J;@C6#*KH#/DAP;E#DIIA;?OIHP#IKH#@A;B;C#@M#IKH;A#<HAHG@CL#I@#IKH#GD;CEDCP#;CIHA;@A6#%HFHAIKHEHJJ7#IKHAH#SHAH#D#COG?HA#@M#HEHGHCIJ#;C#IK;J#<HAHG@CL#IKDI#HGQKDJ;]HP#D#GDA;CH#<@CIHRI7#JO<K#DJ#IKH#JLG?@E;<#OJH#@M#IKH#M;JK;CB#CHI#DCP#JQHDA7#IKH#IHD<K;CB#@M#IKH#JH<AHI;FH#E-F(($#EDCBODBH#;CIA@PO<HP#?L#IKH#4HEE@S#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####ac

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

*KH#HRIHCI# I@#SK;<K#DJQH<IJ#@M# IKH;A#GDIHA;DE#<OEIOAH#SHAH#IKH#AHJOEI#@M#D# EHCBIKL#QA@<HJJ#@M# E@<DE#;CC@FDI;@C7#DPDQIDI;@C#DCP#;CIHBADI;@C#;C#DC#;CJOEDA#HCF;A@CGHCI7#@A7#DEIHACDI;FHEL7#@M#D<<OEIOADI;@C#MA@G#IKH#+OJIADE;DC#<@CI;CHCI#F;D#IKH#IADPH#A@OIHJ#@M#IKH#J@OIKHAC#-OEM#@M#0DAQHCIDA;D7#DAH#iOHJI;@CJ#IKDI#JI;EE# AHGD;C#I@#?H#DCJSHAHP6#*@#?HIIHA#OCPHAJIDCP#IKH#AHDJ@CJ#M@A#IKH#<OEIOADE#P;MMHAHC<HJ7#@OA#JIOPL# QA@Q@JHJ# I@# <DAAL# @OI# D#G@AH# ;C>PHQIK# <@GQDADI;FH# DCDELJ;J# @M# JHEH<IHP# <OEIOADE# DJQH<IJ# @M#IKHJH#;JEDCPJ#DCP#IKH#DP\D<HCI#GD;CEDCP#BA@OQ7#IKH#-DCBBDE;PD6#*@#IK;J#HCP7#IKH#GD;CEDCP#;CMEOHC<HJ#IKDI#KDFH#M;EIHAHP#IKA@OBK#I@#IKH#C@AIK#DCP#J@OIK#;JEDCPJ#AHJQH<I;FHEL#S;EE#?H#;PHCI;M;HP6#,IHGJ#IKDI#GDL# KDFH# ?HHC# AH\H<IHP# ?L# ,JEDCPHAJ# GDL# DEJ@# ?H# ;PHCI;M;HP6# ,I# ;J# DABOHP# IKDI# PHJQ;IH# J;G;EDA#HCF;A@CGHCIJ# DCP# DC# DSDAHCHJJ# @M#GD;CEDCP# <OEIOAH7# IKH#/DAP;E# DCP#[D;DP;EI# PHFHE@QHP# P;MMHAHCI#IH<KC@E@B;<DE# GHIK@PJ# I@# PHDE# S;IK# HFHALPDL# QA@?EHGJ6# *K;J# AHJOEIHP# ;C# P;MMHAHC<HJ# ;C# IKH#<@GQEHR;IL7# P;FHAJ;IL# DCP# AHQHAI@;AH# J;]HJ# @M# IKH;A# DAIHMD<IJ7# DJ# SHEE# DJ# DJJ@<;DIHP# DJQH<IJ# @M#IHAA;I@A;DE7#H<@C@G;<7#J@<;DE#DCP#A;IODE#@ABDC;]DI;@C6#

/01(&%'0&1+2+3.'&2(1;.,1*'1(

*KH#DA<KDH@E@BL#@M# IK;J#QDAI#@M# IKH#-OEM#@M#0DAQHCIDA;D#KDJ#C@I#?HHC#<@GQAHKHCJ;FHEL#AHJHDA<KHP#DCP# ;J# C@I# SHEE# OCPHAJI@@P6# +EIK@OBK# IKHAH# KDJ# ?HHC# J@GH# JQH<OEDI;@C# @C# IKH# QAHK;JI@AL# @M# IKH#THEEHJEHL# ,JEDCPHAJ7# DCP#QDAI;<OEDAEL# IKH#[D;DP;EI7# @CEL#@CH#<@GQAHKHCJ;FH#DA<KDH@E@B;<DE# JOAFHL#KDJ#?HHC#QO?E;JKHP#X(@?;CJ#-'*#02#U""cY7#DCP#D?J@EOIH#DBHJ#@?ID;CHP#M@A#@CEL#J;R#J;IHJ6R;#*KH#AHJOEIJ#;CP;<DIH# IKDI# DA<KDH@E@B;<DE# HF;PHC<H# ;C# IKH# )@OIKHAC#-OEM# ;J# E;G;IHP# ;C# IHAGJ# @M# J;IH# ILQHJ7# DCP#QDAI;<OEDAEL#;C#IHAGJ#@M#PHHQ#JIADI;M;HP#J;IHJ#S;IK#I;GH#PHQIK6#*KHAH#DAH#C@#EDABH#A@<Z#JKHEIHAJ#@C#IKH#GD;CEDCP# @A# ;C# IKH# ;JEDCPJ7# C@A# DCL# EDABH# JKHEE# G@OCPJ6# )KHEE# ;J# iO;<ZEL# HA@PHP# ;C# IKH# K@JI;EH#G@CJ@@C#HCF;A@CGHCI6#);IHJ#S;IK#E@CB#JIADI;BADQK;<#JHiOHC<HJ#DAH#J<DA<H6#*KAHH#IHJI#HR<DFDI;@CJ#@C#IKH#GD;CEDCP#KDFH#QA@F;PHP#PDIHJ#ADCB;CB#MA@G#U!__#<DE93#I@#!b_#<DE936#)DGQEHJ#@M#@LJIHA#JKHEE#MA@G# D# JGDEE# JKHEE# G;PPHC# DI#J4"I4D#$,#$# @C# IKH# C@AIKSHJI# J;PH# @M# 2@AC;CBI@C# ,JEDCP# KDFH#QA@F;PHP# D# ?DJDE# PDIH# @M# d!cb# I@# dhhV# <DE936# *K;J# ;J# IKH# @EPHJI# PDIH# LHI# @?ID;CHP# M@A# DCL#DA<KDH@E@B;<DE# J;IH# @C# IKH# <@DJI# @M# IKH# J@OIKHAC# -OEM# @M# 0DAQHCIDA;D6# X+EIK@OBK# @LJIHA# ;J# C@I# D#QAHMHAAHP# JKHEE# I@# OJH# M@A# PDI;CB# @S;CB# I@# JH<@CPDAL# AH><ALJIDEE;JDI;@C7# IHJIJ# @C# IKHJH# JQH<;GHCJ#M@OCP#C@#AH><ALJIDEE;]DI;@C#I@#?H#HF;PHCI6R;;Y#*K;J#DBH#DIIHJIJ# I@#IKH#Q@IHCI;DE#@M# IKH#DA<KDH@E@BL#I@#DPPAHJJ# iOHJI;@CJ# AHBDAP;CB# IKH# EHCBIK# @M# KOGDC# @<<OQDI;@C# @M# IKHJH# ;JEDCPJ6# +C@IKHA# Q@IHCI;DE#J@OA<H#@M#DA<KDH@E@B;<DE# ;CM@AGDI;@C# ;J#KOGDC#JZHEHIDE# AHGD;CJ7# IK@OBK#IKH;A#JIOPL#;J#<@CJIAD;CHP#?L#<@CIHGQ@ADAL#<OEIOADE#JHCJ;I;F;I;HJ6#

.M#QDAI;<OEDA#;CIHAHJI#;C#IKH#DA<KDH@E@B;<DE#AH<@AP#DAH#IKH#COGHA@OJ#A@<Z>SDEE#M;JK#IADQJR;;;#J<DIIHAHP#IKA@OBK@OI#IKH#THEEHJEHL#,JEDCPJ#DCP#DE@CB#IKH#CHDA?L#GD;CEDCP#<@DJI6#/@<DE#QH@QEH#?HE;HFH#IKDI#DEE#@M#IKHJH#IADQJ#SHAH#?O;EI#?L#GLIK;<#DC<HJI@AJ7#DEIK@OBK#P;MMHAHCI#D<<@OCIJ#@M#SK@G#IKHJH#DC<HJI@AJ#SHAH#DAH#QA@F;PHP#?L#IKH#/DAP;E=4DCBZDDE7#-DCBBDE;PD#DCP#[D;DP;EI#AHJQH<I;FHEL6#%OGHA@OJ#JQH<;HJ#@M#M;JK7#JKDAZJ#DCP#JI;CBADL#SHAH#HDJ;EL#<DQIOAHP#SKHC#<DOBKI#?HK;CP#IKH#SDEEJ#@M#IKHJH#IADQJ#?L#IKH#AH<HP;CB#I;PH6#X2HGG@II#:#*A;BBHA#U""cW#UU!>UUb6Y##

+<<@AP;CB# I@# IKH# DFD;ED?EH# E;IHADIOAH# @C# ,CP;BHC@OJ# A@<Z>SDEE# <@DJIDE# M;JK# IADQJ7# IKH# THEEHJEHL#,JEDCPJ# <@CID;C# IKH# EDABHJI# ZC@SC# <@GQEHR# @M# IADQJ# ;C#+?@A;B;CDE#+OJIADE;D# X9@SHC#:#(@SEDCP#U"""e#0DGQ?HEE# U"c!Y6# ,C# I@IDE7# UVc# M;JK# IADQ# J;IHJ#KDFH#?HHC# E@<DIHP# DCP#aab# M;JK# IADQJ# @A# QHCJ#;PHCI;M;HP# ?L# IKH# <OAAHCI# DOIK@AJ# DCP# IKH;A# <@EEHDBOHJ6#1@SHFHA# IKH;A# P;JIA;?OI;@C# ;J# C@I# OC;M@AG#?HISHHC# IKH# M@OA# <@CJI;IOHCI# EDCBODBH# BA@OQJ# @M# IKH# AHB;@C6# *KH# K;BKHJI# PHCJ;IL# @M# IADQJ# ;J# @C#9HCI;C<Z# DCP# )SHHAJ# ,JEDCPJ# ;C#[D;DP;EI# IHAA;I@AL# X@CH# J;IH# QHA# V6b# ZG# @M# <@DJIE;CHY6# *KH# E@SHJI#

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

# a"

PHCJ;IL#X@CH#J;IH#QHA#c#ZG#@M#<@DJIE;CHY#;J#;C#/DAP;E#IHAA;I@AL7#SK;<K#;C<EOPHJ#2@AC;CBI@C#,JEDCP7#?L#MDA#IKH#EDABHJI#;JEDCP#;C#IKH#THEEHJEHLJ#X(@?;CJ#U"ca6Y#

#7.3-%1(C9#+C#;CIHA>I;PDE#A@<Z#QEDIM@AG#@C#XEDABHY#9@OCI;MOE#,JEDCP#DJJHAIHP#?L#IKH#/DAP;E#I@#?H#D#M;JK#IADQ#<AHDIHP#?L#IKH#+C<HJI@A#2DAC?;E6#);BCJ#@M#<@CJIAO<IHP#A@<Z#SDEEJ#DAH#C@I#@?F;@OJ#MA@G#DHA;DE#AH<@CCD;JJDC<H6#*KHAH#DAH#K@SHFHA#GDCL#A@<Z#Q@@EJ#SK;<K#S@OEP#L;HEP#D#A;<K#<DI<K#@M#M@@P#AHJ@OA<HJ6#

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iOHJ# ;CJ;PH# IADQJ7#OJDBH#@M# IADQ#BDIHJ#DCP#Q@CPJ7#DCP#@IKHA#JO<K#QA@QHAI;HJ6#+#JQH<;DE;]HP#[D;DP;EI# IADQ#IH<KC@E@BL#G;BKI#QDAIEL#HRQED;C#SKL#IKHL#KDP#D#EHJJ#<@GQEHR#GDIHA;DE#<OEIOAH#AHQHAI@;AH#IKDC#IK@JH#@M#IKH;A#CH;BK?@OAJ6#+P\OJIGHCIJ#;C#IKH#E@<DI;@CJ#@M#M;JK#IADQJ#;C#AHJQ@CJH#I@#IKH#<KDCB;CB#JHD#EHFHEJ#DCP#<@DJIE;CH#PHM;C;I;@C#POA;CB#IKH#QHA;@P#@M#@<<OQDI;@C#@M#IKH#AHB;@C#;J#DC@IKHA#JO?\H<I#@M#@OA#@CB@;CB#AHJHDA<K#X2HGG@II#-'*#02#!VVbY6#

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

#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####bV

#7.3-%1(D9#(@CC;H#^OQ;IHA#JQHDA;CB#D#<AD?7#9DLEHL#3@;CI7#@C#D#MDEE;CB#I;PH7#)HQIHG?HA#U"ca6#%@IH#IKDI#IKH#!JK;CB#JQHDA#SDJ#D#GDEH>JQH<;!<#;GQEHGHCI6#*KH#SDEE#;J#<HGHCIHP#I@BHIKHA#S;IK#@LJIHAJ6#X3K@I@#MA@G#*A;BBHA#U"cd7#Q6U!_6Y##

#7.3-%1(E9#*ADQ#SDEE#DI#E@S#I;PH7#JK@S;CB#D#PAD;CDBH#<KDCCHE#DCP#;CP;<DI;CB#D#E;ZHEL#Q@;CI#I@#PHJ;BC#;C#D#BDIH6#X(HM6#(9#dhhc=_7#+'(0#/c=!>Udc6Y##

*KH#JQH<;M;<#QA@?EHG#@M#PDI;CB#QDAI;<OEDA#THEEHJEHL#M;JK#IADQJ#KDJ#?HHC#P;J<OJJHP#;C#DC@IKHA#AH<HCI#QDQHA# X2HGG@II# -'* #02# !VVbY6# &DI;CB# G;PPHCJ# DCP=@A# <DGQJ;IHJ# ;C# QA@R;G;IL# I@# IADQJ# <DC# @CEL#QA@F;PH#DC# ;CMHAAHP#DQQA@R;GDI;@C#@M# IKH#DBH#@M#DC#DP\D<HCI# M;JK# IADQ6#+C#DEIHACDI;FH#DQQA@D<K# I@#PDI;CB# IADQ#J;IHJ# ;J# I@# E@@Z#M@A# IKH#Q@JJ;?;E;IL#@M#HR<DFDI;CB# IKH#?OA;HP#jDAG`#SDEEJ#@M# IADQJ#SKHAH#IKHL#DAH#M@OCP#I@#KDFH#?H<@GH#<@FHAHP#?L#JHP;GHCIJ#DJ#IKH#JHD#EHFHE#MHEE7#DCP#C@S#HRIHCP#OCPHA#IKH#?HD<K6#'R<DFDI;@CJ#;C#D<<OGOEDIHP#JHP;GHCI#DCP#?HJ;PH#IKH#IADQ#SDEEJ#GDL#IKHC#QA@F;PH#GDIHA;DEJ#JO;ID?EH# M@A# PDI;CB6# *KHJH# <@OEP# ;C<EOPH# <DA?@C>?HDA;CB# GDIHA;DEJ# PHQ@J;IHP# ;C# IKH# JHP;GHCI6#0DE<DAH@OJ#MDOCDE#AHGD;CJ#XJO?>M@JJ;E#AHE;<JY#DIID<KHP#;C#BA@SIK#Q@J;I;@CJ#@C#IKH#A@<Z#SDEE#<@OEP#?H#<DCP;PDIHJ# ?OI# JO;ID?EH# JQH<;HJ# ;C# IK;J# AHB;@C# KDFH# LHI# I@# ?H# PHIHAG;CHP6# /OG;CHJ<HCI# PDI;CB# @M#JHP;GHCIJ# S@OEP# QA@?D?EL# C@I# ?H# DIIHGQIHP# OCEHJJ# IKHL# <@OEP# ?H# JK@SC# I@# ?H# DH@E;DC# PHQ@J;IJ6#*KHAH#;J#DEJ@#IKH#G@AH#AHG@IH#Q@JJ;?;E;IL#@M#M;CP;CB#DC#DAI;MD<I#S;IK;C#DC#HR;JI;CB#M;JK#IADQ#SDEE#IKDI#GDL# KDFH# J@GH# PDID?EH# QA@QHAIL# JO;ID?EH# M@A# G@PHAC# IH<KC;iOHJ# XHB# AHJ;POH# DCDELJ;JY6# *;CPDEH#

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

# bU

XU"haW!bUY#KDP#C@IHP# IKH#OJH#@M# IADQ#SDEEJ# I@# JI@AH# JI@CH# DAI;MD<IJ#@C#9HCI;C<Z# ,JEDCP6# XTH#KDFH#M@OCP#C@#HF;PHC<H#J@#MDA#;C#@OA#M;HEP#AHJHDA<K#@M#?AD;C#<@ADEJ#;CJ;PH#IADQJ#IKDI#<@OEP#DJJ;JI#;C#PDI;CB6Y#

F-<<&%=(+4(4.*,.*3##

,I#;J#C@S#OJHMOE#I@#?A;CB#I@BHIKHA#IKH#FDA;@OJ#JIADCPJ#SH#KDFH#?A;HMEL#P;J<OJJHP6#TH#P@#IK;J#;C#IS@#SDLJ6# *KH# M;AJI# ;J# I@# ;CIHBADIH# IKH# ;CM@AGDI;@C# DJ# D# BA;P7# S;IK# IKH# P;J<;QE;CH>JQH<;M;<# J@OA<H# @M#;CM@AGDI;@C#@C#IKH#@CH#DR;J7#DCP#IKH#P;MMHAHCI#J@<;DE#BA@OQJ#@C#IKH#@IKHA6#*K;J#;J#JK@SC#;C#*D?EH#U6#

#/&"21( 89# )OGGDAL# @M# <@GQDADI;FH# M;CP;CBJ# @C# IKAHH# @M# IKH# ZHL# JIOPL# BA@OQJ# MA@G# IKH# )@OIK# THEEHJEHL7# %@AIK#THEEHJEHLJ#DCP#GD;CEDCP#AHJQH<I;FHEL#XDPDQIHP#MA@G#'FDCJ#!VVbY6#

#&;J<;QE;CH# [D;DP;EI# /DAP;E# -DCBBDE;PD#

/;CBO;JI;<J# 0EHDA#QKLE@BHCL#DJ#DC#@MMJK@@I#@M#;CJOEDA#J@OIKHAC#*DCBZ;<7#AHMEH<I;CB#<EDJJ;<#QKLE@BHCHI;<#JQE;I#S;IK#G;BADI;@C#I@#)@OIK#THEEHJEHLJ#)GDEE#DG@OCIJ#@M#EHR;<DE#?@AA@S;CB#XDCP#@CH#?@OCP#G@AQKHGHY#MA@G#OCAHEDIHP#-DAASD#I@#SHJI6#

9@AA@S;CBJ#@M#JO?JH<I;@C#IHAGJ#XS;IK@OI#P;MMHAHCIDI;@C#M@A#BHCPHAYe#IHAGJ#M@A#G@;HIL>JQH<;M;<#G@PHJ#@M#EDCP#<OJI@PL#9@AA@S;CB#DCP#HED?@ADI;@C#@M#&HG;;C#MA@G#5@AJLIK#,JEDCPHAJ7#I@#IKH#Q@;CI#SKHAH#;I#;J#C@S#JHHC#DJ#D#/DAP;E#ADIKHA#IKDC#D#%@AIK#THEEHJEHL#IAD;I6#

9@AA@S;CBJ#@M#JO?JH<I;@C#IHAGJ7#S;IK#BHCPHA#P;MMHAHCI;DI;@C6#.QHADI;@C#@M#DAHDE#<@CID<I#S;IK#@IKHA#GD;CEDCP#EDCBODBHJ#GD;CID;CJ#<@CJHAFDI;FH#ILQ@E@B;<DE#IAD;IJ#@M#EDCBODBH6#

-HCHI;<J# 1LQHA>P;MMHAHCI;DI;@C#@M#JGDEE#G;BADCI#Q@QOEDI;@C7#AHMEH<I;CB#PA;MI7#?@IIEHCH<Z7#DCP#DGQE;M;HP#HMMH<I#@M#JO?JHiOHCI#A@BOH#BHCHJ6#/;ZHEL#JGDEE#AK;]@I;<#HMMH<I7#IKA@OBK#;CIHAGDAA;DBH#S;IK#-DAASD#Q@QOEDI;@C#?HM@AH#G;BADI;@C7#DGQE;M;HP#?L#PA;MI#DCP#M@OCPHA#HMMH<IJ6#

1LQHAP;MMHAHCI;DI;@C#@M#Q@QOEDI;@C7#IK@OBK#I@#D#EHJJHA#HRIHCI#IKDC#S;IK#IKH#[D;DP;EI6#

%@#JIOP;HJ#I@#PDIH6#

+A<KDH@E@BL# %@#PDIHJ#LHIW#PDIHJ#CHHPHP#M@A#;C;I;DE#JHIIEHGHCI7#JO?J;JIHC<H#JK;MIJ#IKA@OBK#I;GH7#IADPH=HR<KDCBH#DCP#M@A#<@CJIAO<I;@C#@M#M;JK>IADQJ6#

*S@#PDIHJ#@C#2@AC;CBI@CW#dhhV#I@#dU!V#<DE93e#Uh!c#I@#UVVV#<DE93e#MA@G#IS@#J;IHJ6#

)KHEE#G;PPHCJ=JKHEE#J<DIIHAJ#DI#9DLEHL#3@;CI7#.EP#&@@GDPBHH#DCP#-OCDGOED#ADCBH#MA@G#UbVV#<DE93#I@#V#<DE936#

)@<;DE#+CIKA@Q@E@BL#

[;CJK;Q#JLJIHG#AHID;CHP6#&H<E;CH#@M#<EDC>?DJHP#HJIDIH#JLJIHG#DJ#DPDQIDI;@C#I@#JGDEEHA#Q@QOEDI;@C6#

3DIA;M;E;DI;CB#<EDC#JIAO<IOAH#S;IK#E@<DE#HJIDIHJ7#?OI#C@I#DE;BCHP#S;IK#QDIA;<@OQEHJ6#(H<HCI#DP@QI;@C#@M#JO?JH<I;@CJ7#QDIA;G@;HIL#P;JI;C<I;@C7#<HAHG@C;DE#J@CB#<L<EHJ#E;CZ;CB#I@#GD;CEDCP6#

+E;BCGHCI#@M#EDCP>K@EP;CB#<EDCJ#S;IK#QDIA;<@OQEHJ#DJ#JO?JH<I;@C#JLJIHG#?H<@GHJ#HCIAHC<KHP7#JIAHCBIKHC;CB#QDIA;E;CHDE#?DJ;J#@M#<EDC#DMM;E;DI;@C6#

2DIHA;DE#0OEIOAH#

/;G;IHP#DAI;MD<I#AHQHAI@;AH6#/D<Z#@M#P;FHAJH#M;JK;CB#CHI#ILQHJ#?OI#DC#;CIHCJ;FH#OJH#@M#A@<Z>SDEE#M;JK#IADQJ6#

+#AHEDI;FHEL#EDABH#AHQHAI@;AH#@M#DAIHMD<IJ#;CP;<DI;CB#AH<HQI;F;IL#I@#GD;CEDCP#A;IODE#P;MMOJ;@C6#-AHDIHA#PHQHCPHC<L#@C#D#ADCBH#@M#M;JK;CB#CHI#ILQHJ#DCP#EHJJ#PHQHCPHC<H#@C#A@<Z>SDEE#IADQJ6#

3AHE;G;CDAL#DCDELJ;J#;CP;<DIHJ#-DCBBDE;PD#AHQHAI@;AH#G@JI#<E@JHEL#AHJHG?EHP#/DAP;E7#?OI#C@#;C>PHQIK#DCDELJ;J#@M#DEE#;IHGJ#LHI6U#

#################################################U#####)HH#*A;BBHA#XU"c_Y#M@A#DC#;CIA@PO<I@AL#<@GQDADI;FH#DCDELJ;J6###

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####b!

#*KH#JH<@CP#;J#I@#IDZH#D#J;CBEH#<KA@C@E@B;<DE#JSHHQ#IKA@OBK#IKH#JIOPL#AHB;@C7#;CIHBADI;CB#;CM@AGDI;@C#MA@G#IKH#FDA;@OJ#BA@OQJ#DCP#P;J<;QE;CHJ6#*K;J#;J#B;FHC#;C#*D?EH#!6##

#/&"21(>9#,CIHBADIHP#HCF;A@CGHCIDE#DCP#KOGDC#<KA@C@E@BL#@M#IKH#THEEHJEHL#(HB;@C6(

#?1%.+,(G(1*;.%+*<1*$&2(1;1*$#!

F.3*.4.'&*$(0-<&*(1;1*$#! F-66+%$.;1(1;.,1*'1(+4(0-<&*(1;1*$#!

Uc# I@#h#ZD#l;CMEOR#@M#JHD#S;IK#G;BADI;CB# <@DJIE;CH# DI# dV>UVVG#D#LHDA#!

3@JJ;?EH# HDAE;HA# 3EH;JI@<HCH#<@E@C;JDI;@C6!

%@#ZC@SC#HF;PHC<H#DJ#LHI6#!

c#I@#d6d#ZD#l#@CB@;CB#;CMEOR#@M#JHD#!

0@E@C;JDI;@C# @M# IKH#2@AC;CBI@C# 3HC;CJOED# MA@G#GD;CEDCPe# JQE;II;CB# @MM# @M#/DAP;E# MA@G# 3A@I@>*DCBZ;<#EDCBODBH6!

J4"I4D#$,#$# G;PPHC# J;IH# B;FHJ#?HC<KGDAZ# @<<OQDI;@C# PDIH# M@A# /DAP;E#Xd!cb>dhhV#<DE93Y#!

d6d#I@#d#ZDW#JHQDADI;@C#@M#EDABH#;JEDCPJ# MA@G# GD;CEDCP6# )HD#EHFHEJ#QHDZ#DI#DQQA@R#d6a#ZD!

.ADE# D<<@OCIJ# @M# <KDCCHEJ#?H;CB# <OI# ?HISHHC# ;JEDCPJ#HED?@ADIHP#;CI@#JD<AHP#K;JI@A;HJ#@M#DC<HJIADE#?H;CBJ6!

,CMHAAHP# MA@G# <KDCBHJ# ;C# JHD>EHFHE# DCP#JD<AHP#K;JI@A;HJ#@C#<KDCCHE#<OII;CBJ6!

d#I@#a6b#ZDW#JHD#EHFHEJ#C@S#PA@Q#DQQA@R#U6_G6#!

%HS#<DGQJ;IHJ#DCP#AHJ@OA<H#QED<HJ#HJID?E;JKHP#@C#CHSEL#M@AGHP#<KHC;HAJ#X(@?;CJ#-'*#02#U""cY#!

!

U#I@#V6d#ZDW#JGDEEHA#;JEDCPJ#C@S#JID?;E;]HP#S;IK#MAHJKSDIHA#J@OA<HJ6!

(H><@E@C;JDI;@C#@M#5@AJLIK#,JEDCPJ#MA@G#GD;CEDCP#?L#4DCBZDDE7#DCP#@M#9HCI;C<Z#,JEDCPJ#MA@G#GD;CEDCP#X3@;CI#3DAZHAY#?L#[D;DP;EI6!

);G;EDAEL#HJI;GDIHJ#@M#I;GH#@M#AH<@E@C;]DI;@C#?L#IKHJH#IS@#BA@OQJ#?DJHP#@C#E;CBO;JI;<#P;FHABHC<H#@M#4DCBZDDE#DCP#[DLDAP;EP#EDCBODBHJ#MA@G#IKH#-DCBBDE;PD#EDCBODBH6!

V6d#ZD#@A#G@AH#AH<HCIELk! /;G;IHP#<@CID<I#@M#[D;DP;EI#S;IK#-DAASD#DCP#4DCLOSD6#)@<;@><OEIOADE#P;MMHAHCI;DI;@C#?HISHHC#BA@OQJ6#!

/@DC#S@APJ#;C*>$C#$H(#j@SC`7#F4"I($/(#jC@>CDGH`e#QAHJHC<H#@M#OCOJODE#BHCHI;<#GDAZHAJ#JKDAHP#?L#[D;DP;EI#S;IK#[DAASD6!

/DJI#UdV#LHDAJ#OQ#OCI;E#U"Ub#SKHC#G;JJ;@C#<@E@C;JDI;@C#@<<OAAHP6!

(H<HCI#DP@QI;@C#@M#JO?JH<I;@C#IHAGJ#MA@G#GD;CEDCP#;CI@#/DAP;E7#F;D#4DCBZDDE7#DCP#DP@QI;@C#@M#QDIA;>G@;HIL#<@C<HQI6!

.ADE#K;JI@ALe#MD;EOAH#@M#JO?JH<I;@C#IHAGJ#I@#OCPHAB@#M;CDE#IAOC<DI;@C6#/D<Z#@M#DPDQI;@C#@M#JO?JH<I;@C#<EDJJ;M;<DI;@C#I@#<EDC#HJIDIHJ6!

#F-<<&%=(+4(6%+"21<(

*KH#@CB@;CB#QAHJHC<H#@M# IKH#M@OA#<OEIOADE#BA@OQJ#@M# IKH#THEEHJEHL#,JEDCPJ#DCP#DP\D<HCI#GD;CEDCP#QA@F;PHJ# D# OC;iOH# @QQ@AIOC;IL# I@# HRDG;CH# ;JJOHJ# AHEDI;CB# I@# <OEIOADE# <KDCBH# DCP# ;J@EDI;@C# @C#@MMJK@AH#;JEDCPJ6#*KH#QAHJHCI#AHJHDA<KHAJ#KDFH#D<<HJJ#I@#D#<@CIHGQ@ADAL#+?@A;B;CDE#ZC@SEHPBH#?DJH#@M#IADP;I;@CDE#GDA;CH#AHJ@OA<H#HRQE@;IDI;@C#IH<KC@E@B;HJ7#DCP#DC#HR;JI;CB#?@PL#@M#HIKC@BADQK;<#DCP#E;CBO;JI;<# AHJHDA<K# IKDI# ;CP;<DIHJ#<@GQEHR#FDA;D?;E;IL# ;C# EDCBODBH7# J@<;DE# JLJIHGJ7#GDIHA;DE#<OEIOAH#DCP#GDA;CH#IH<KC@E@BL6#+A<KDH@E@B;<DE#HF;PHC<H#M@A#D#AHEDI;FHEL#EHCBIKL#@<<OQDI;@C#@M#DI#EHDJI#@CH#;JEDCP7#DCP#DC#HRIHCJ;FH#JLJIHG#@M#M;JKIADQJ7#QA@F;PH# IKH#CH<HJJDAL# IHGQ@ADE#DCP#JQDI;DE# AHMHAHC<H#Q@;CIJ# I@# IHJI# KLQ@IKHJHJ# D?@OI# ;J@EDI;@C6# *KHAH# SHAH# <EHDA# <OEIOADE# <@GG@CDE;I;HJ# ?HISHHC# IKH#JIOPL# BA@OQJ# DJ# SHEE# DJ# @?F;@OJ# P;MMHAHC<HJ6# *KHJH# P;MMHAHC<HJ# AHMEH<I# D# COG?HA# @M# MD<I@AJ7#;C<EOP;CB#IKH#E;ZHEL#JHiOHC<H#@M#JHIIEHGHCI#@M#IKH#;JEDCPJ7#P;MMHAHC<HJ#?HISHHC#IKH#%@AIK#DCP#)@OIK#THEEHJEHL#,JEDCPHAJ#;C#IKH#PHBAHH#@M#<OEIOADE#QHAGHD?;E;IL#DCP#D<<HQIDC<H#@M#J@<;DE#IADCJG;JJ;@C#I@#DCP#MA@G#IKH#GD;CEDCP7#DCP#J@<;@>H<@C@G;<#DPDQIDI;@CJ#AHMEH<I;CB#IKH#P;MMHAHCI#PHG@BADQK;<J#@M#IKH#%@AIK#DCP#)@OIK#THEEHJEHL#Q@QOEDI;@CJ6##

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

# ba

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

*@#PDIH#SH#KDFH#;PHCI;M;HP#DCP#PHJ<A;?HP#P;MMHAHC<HJ#DCP#JQH<OEDIHP#@C#<DOJHJ7#?OI#KDFH#C@I#<@GH#OQ# S;IK# D# A@?OJI# IKH@AHI;<DE# G@PHE# JOQQ@AIHP# ?L# DPHiODIH7# ;CIHBADIHP# PDID6# 5OIOAH# AHJHDA<K# S;EE#M@<OJ#@C#IK;J#B@DE6#

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i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

&H?DIHJ#D?@OI#IKH#CDIOAH7#HRIHCI7#I;G;CB#DCP#POADI;@C#@M#;J@EDI;@C#DAH#<HCIADE#I@#DC#OCPHAJIDCP;CB#@M#IKH# D<<@OCI# @M# IKH# <@E@C;JDI;@C# DCP# @<<OQDI;@C# @M#+?@A;B;CDE#+OJIADE;D6#TK;EH# PH?DIHJ# D?@OI# IKH#CDIOAH# @M# ;J@EDI;@C# ;C# DA;P# DAHDJ# @M# +OJIADE;D7# QDAI;<OEDAEL# DJ# D# <@CJHiOHC<H# @M# EDIH# 3EH;JI@<HCH#<E;GDI;<#<KDCBH7#DAH#?H<@G;CB#;C<AHDJ;CBEL#;GQ@AIDCI#XHB#)G;IK#:#1HJJH#!VVde#8HIK#-'*#02*!VVdY7#D#B@@P# PHDE# @M# J<K@EDAEL# P;J<OJJ;@C# D?@OI# ;J@EDI;@C# KDJ# <HCIAHP# @C# ;JEDCPJ6#+I# EHDJI# J;C<H# IKH# I;GH#&DAS;C`J#S@AZ#@C#-DEDQDB@J#M;C<K#HF@EOI;@C7# ;JEDCPJ#KDFH#?HHC#<@CJ;PHAHP#J<;HCI;M;<#ED?@ADI@A;HJ#SKHAH#QDIIHACJ#DCP#QA@<HJJHJ#@M#QKLJ;<DE#DCP#?HKDF;@OADE#<KDCBH#OCM@EP#;C#;J@EDI;@C#DCP#J@#<DC#?H#JIOP;HP#S;IK#GO<K# BAHDIHA# <@CIA@E# @FHA# ;CQOIJ# DCP# @OIQOIJ# IKDC# ;J# @IKHAS;JH# Q@JJ;?EH6# ,I# ;J# C@S#ZC@SC# IKDI# SK;EH# ;CJOEDA;IL# P@HJ# QA@F;PH# AHJHDA<KHAJ# S;IK# J@GH# jHRQHA;GHCIDE# <@CIA@E`7# <OEIOADE#<KDCBH#;C#QDAI;<OEDA#P@HJ#C@I#@<<OA#;C#;J@EDI;@C#HR<HQI#;C#HRIAHGH#<DJHJ#JO<K#DJ#@C#*DJGDC;D#DCP#'DJIHA# ,JEDCPW# ;JEDCP# QH@QEH# GDC;QOEDIH# IKH;A# QKLJ;<DE# ;CJOEDA;IL# I@# ;C<AHDJH# @A# PH<AHDJH# IKH;A#J@<;@<OEIOADE# ;J@EDI;@C#MA@G#@OIJ;PH#XHB#-@JPHC#:#3DFE;PHJ#U""bY6#$CPHAJIDCP;CB#K@S7#SKHC#DCP#SKL#;JEDCP#QH@QEH#P@#IK;J#S;EE#DEE@S#OJ#I@#OCPHAJIDCP#?HIIHA#K@S#QH@QEH#;C#BHCHADE#GDC;QOEDIH#IKH;A#J@<;DE# HCF;A@CGHCIJ# I@# <@CIA@E7# ;CMEOHC<H# DCP# HFHC# AHFHAJH# EDABHA>J<DEH# DCP# @MIHC# JHHG;CBEL#;AAHJ;JI;?EH#ME@SJ#@M#QH@QEH7#;PHDJ#DCP#IK;CBJ6#,C#<@GQDA;J@C#I@#@IKHA#+OJIADE;DC#;JEDCPJ7#SH#?HE;HFH#IKDI#IKH#THEEHJEHLJ#QA@F;PH#D#OC;iOH#@QQ@AIOC;IL#I@#<DAAL#@OI#J;BC;M;<DCI#;JEDCP#AHJHDA<K#@M#IK;J#ILQH6

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####bb

H141%1*'1#(9DAZHA7#96#XU""UY#%DAD#,CEHI#UW#0@DJIDE#AHJ@OA<H#OJH#;C#IKH#1@E@<HCH#GDA;CH#IADCJBAHJJ;@C#;C#IKH#TK;IJOCPDL#,JEDCPJ7#0HCIADE#NOHHCJEDCP#3"&,#-)0)C/*($#K&-#$(##>DI#UV!>UV"6#

9;APJHEE7#^6#XU""aY#L(&")-M)04'()$#"/*N#''-"$%*($*3B)"(C($#0*34%'"#0(#2*3*C"#I(-$'*#$#0/%(%*)+*&0($-%#X.RM@AP#$C;FHAJ;IL#3AHJJ7#%HS#4@AZ7#$6)6+6Y#

9@SPEHA7#)6# XU""dY#.MMJK@AH# ;JEDCPJ#DCP#GDA;I;GH#HRQE@ADI;@CJ# ;C#+OJIADE;DC#QAHK;JI@AL#3$'(O4('/#DJI#"bh>"dc6#

9@SHC7# -6# :# (@SEDCP7# 26# XU"""Y# ,CP;BHC@OJ# 5;JK# *ADQJ# DCP# TH;AJ# @M# NOHHCJEDCP# ># +C# .FHAF;HS7#+JJHJJGHCI#DCP#(H<@GGHCPDI;@CJ6#$CQO?E;JKHP#AHQ@AI#I@#IKH#+OJIADE;DC#1HA;IDBH#0@GG;JJ;@C7#0DC?HAAD#DCP#'CF;A@CGHCIDE#3A@IH<I;@C#+BHC<L7#9A;J?DCH6#

0DGQ?HEE7# ^6# XU"c!Y#+OI@GDI;<# JHDM@@P# AHIA;HFDE# JLJIHGJW# IKH# HF;PHC<H# MA@G#1;C<K;C?A@@Z# ,JEDCP# DCP# ;IJ#;GQE;<DI;@CJ7#;C#9@SPEHA7#)6#XHP6Y#QQ6#"h>UV_6#,C#P)#%'#0*3"&,#-)0)C/*($*Q#%'-"$*34%'"#0(#7#&HQDAIGHCI#@M#3AHK;JI@AL7#(HJHDA<K#)<K@@E#@M#3D<;M;<#)IOP;HJ7#+OJIADE;DC#%DI;@CDE#$C;FHAJ;IL7#0DC?HAAD6#

0OAID;C7#067# FDC#/@BKHG7#'67# 5OPHC?HAB7#16167#*;CPDEH7#%6967#);GG@CJ7#(6*67#&@BKHAIL7#(6/6#:#8@J7#-6#XU"_!Y#&;JIA;?OI;@C#@M# IKH# ;GGOC@BE@?OE;C#GDAZHAJ#DI# IKH#,B-U7#,B-!7#,B-a7#,B+!7#DCP#!><KD;C#E@<;# ;C#+OJIADE;DC#+?@A;B;CHJW#<@GQDA;J@C#S;IK#%HS#-O;CHD#Q@QOEDI;@CJ#3F-"(&#$*R)4"$#0*)+*S4F#$*T-$-'(&%#>B#Ubd>Udd6##

0OAID;C7#067#*;CPDEH7#%6#:#);GG@CJ7#(6#XU"hhY#-HCHI;<DEEL#PHIHAG;CHP#?E@@P#QA@IH;C#MD<I@AJ# ;C#+OJIADE;DC#+?@A;B;CHJ# @M# 9HCI;C<Z7# 2@AC;CBI@C7# DCP# 5@AJLIK# ,JEDCPJ# DCP# IKH# GD;CEDCP7# -OEM# @M# 0DAQHCIDA;D#3"&,#-)0)C/*#$I*U,/%(&#0*3$',")N)0)C/*($*K&-#$(##8I#_b>cV6#

&DF;P7#967#2<%;FHC7#,67#2;I<KHEE7#(67#.AA7#267#1D?HAEH7#)67#9ADPL7#/6#:#0A@O<K7#^6#X!VVbY#9DPO#Ud#DCP#IKH#3DQODC>+OJIA@CHJ;DC#)HIIEHGHCI#@M#*@AAHJ#)IAD;I#;C#3"&,#-)0)C/*($*K&-#$(##a"7#QQ6hd>_c6#

'FDCJ7# %6# XU"cdY# f[D;DP;EIW# *KH# /DCBODBH# @M# IKH# 9HCI;C<Z# ,JEDCPHAJ# @M# %@AIK#THJI# NOHHCJEDCPg# 3K6&6#*KHJ;J7#+OJIADE;DC#%DI;@CDE#$C;FHAJ;IL7#0DC?HAAD6#

'FDCJ7#%6#XU""dY#3*C"#FF#"*)+*G#(#I(0':*A(',*,(%')"(&#0>&)FN#"#'(M-*$)'-%*)$*!#$CD(&6#2@OI@C#PH#-AOLIHA7#9HAE;C6#

'FDCJ7# %6# X!VV!Y# 'DJI# D<A@JJ# D# CDAA@S# JHDW#G;<A@><@E@C;]DI;@C# DCP# JLCIKHI;<# QAHK;JI@AL# ;C# IKH#THEEHJEHL#,JEDCPJ7# %@AIKHAC# +OJIADE;D6# 3AHJHCIHP# DI# +(0/,%-# ,,# 0@CMHAHC<H7# 0DC?HAAD7# U>b# .<I@?HA7# &HQI# @M#/;CBO;JI;<J#DCP#+QQE;HP#/;CBO;JI;<J7#$C;FHAJ;IL#@M#2HE?@OACH7#8;<I@A;D6##

'FDCJ7# %6# X!VVdY# 'DJI# D<A@JJ# D# CDAA@S# JHDW#G;<A@><@E@C;]DI;@C# DCP# JLCIKHI;<# QAHK;JI@AL# ;C# IKH#THEEHJEHL#,JEDCPJ7#%@AIKHAC#+OJIADE;D#;C#*@JK;Z;#.JDPD6#3Q6#">a"6#,C#.JDPD7#*6#XHP6Y#V($C4(%'(&%:*3"&,#-)0)C/*#$I*',-*S4F#$*U#%'2*K&&#%()$#0*U#N-"*W)2*;6#(HJHDA<K#,CJI;IOIH#M@A#1OGDC;IL#DCP#%DIOAH7#[L@I@7#">a"6#

5E@@P7#^6#XU""hY#3"&,#-)0)C/*)+*',-*E"-#F'(F-#X1DAQHA#0@EE;CJ7#)LPCHL6Y#-@JPHC7# 06# :# 3DFE;PHJ7# 06# XU""bY# +AH# ;JEDCPJ# ;CJOEDAk# /DCPJ<DQH# FJ# JHDJ<DQH# ;C# IKH# <DJH# @M# IKH# +ADSH#,JEDCPJ7#3DQOD#%HS#-O;CHD#3"&,#-)0)C/*($*K&-#$(#*>J#Uh!>U_U6#

1DEH7#[6#XU"_aY#&HHQ>JOAMD<H#<DC@C;<DE#P;JQDA;I;HJ#;C#AHEDI;@C#I@#DCDELJ;J#DCP#<KDCBHW#DC#+OJIADE;DC#HRDGQEH6#3Q6#bVU>bdc6#,C#)H?H@Z7#*6+6#XHPY#P4""-$'*!"-$I%*($*V($C4(%'(&%*XY*V($C4(%'(&%*($*K&-#$(#7#2@OI@C7#*KH#1DBOH6#

1DEH7#[6#XU"c!Y#*KH#E@B;<#@M#&DG;;C#Z;CJK;Q#IHAG;C@E@BL6#3Q6#aU>a_6#,C#1HDIK7#^67#2HAEDC7#56#:#(OGJHL7#+6#XHPJY#V#$C4#C-%*)+*D($%,(N*($*3B)"(C($#0*34%'"#0(#7#.<HDC;D#/;CBO;JI;<#2@C@BADQKJ7#)LPCHL#>B6#

1DEH7#[6#:#%DJK7#&6#XU""_Y#&DG;C#DCP#/DAP;E#QK@C@ID<I;<J#;C#*AL@C6#3Q6#!b_>!d"6#,C#&6#:#TDEJK7#26#XHPJY#Z)4$I#"/*.(I-"Y*Q%%#/%*($*S)$)4"*)+*T-)++"-/*K[T"#I/7#3D<;M;<#/;CBO;JI;<J7#0DC?HAAD6#

1DEE7# ^6# XU"""Y#*KH# ;GQD<I#@M# JHD# EHFHE# A;JH#@C# IKH#DA<KDH@E@B;<DE# AH<@AP#@M# IKH#2@AHI@C# AHB;@C7# J@OIKHDJI#NOHHCJEDCP6# 3Q6# Uh">Ucb6# ,C# 1DEE# ^6# DCP# 2<%;FHC7# ,6# XHPJY# 34%'"#0(#$* P)#%'#0* 3"&,#-)0)C/7# X+%1#3O?E;<DI;@CJ7#0DC?HAADY#

1DEE7# ^6# :# 2<%;FHC7# ,6# XHPJY# XU"""Y# 34%'"#0(#$* P)#%'#0* 3"&,#-)0)C/7# +%1# 3O?E;<DI;@CJ7# &HQI# @M#DA<KDH@E@BL#DCP#%DIOADE#1;JI@AL7#()3+)7#*KH#+OJIADE;DC#%DI;@CDE#$C;FHAJ;IL7#0DC?HAAD6#

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

# bd

^@CHJ7#(6#XU"_"Y#2DC#DJ#DC#HEHGHCI#@M#D#<@CI;CHCIDE#MDOCD7#*KH#<DJH#@M#IKH#JOCPHA;CB#@M#IKH#9DJJ;DC#9A;PBH6#3Q6#a_U>ach6#,C#+EEHC7#^6#-@EJ@C7#^6#DCP#^@CHJ7#(6#XHPJY#14$I#*#$I*1#,402*U"-,(%')"(&*1'4I(-%*($*1)4',-#%'*3%(#:*L-0#$-%(#*#$I*34%'"#0(#7#X+<DPHG;<#3AHJJ7#/@CP@CY##

[HHC7# )6# XU"caY# 4OZOEID6# 3Q6# U"U>aVb6# ,C# &;R@C7# (6# XHPY7# S#$IB))D* )+* 34%'"#0(#$* V#$C4#C-%* M2<7#X+OJIADE;DC#%DI;@CDE#$C;FHAJ;IL#3AHJJ7#0DC?HAADY#

[;A<K7# 36# X!VVVY# K$* ',-* .)#I* )+* ',-* J($I%Y* 3$* 3"&,#-)0)C(&#0* S(%')"/* )+* ',-* U#&(+(&* \%0#$I%* Z-+)"-*Q4")N-#$*P)$'#&'#X$C;FHAJ;IL#@M#0DE;M@AC;D#3AHJJ7#9HAZHEHL6Y#

[;AZ7#(6#XU"cUY#3B)"(C($#0*L#$*3I#N'($C#X0EDAHCP@C#3AHJJ7#.RM@AP6Y#

/DG?H<Z7#[6#:#0KDQQHEE7#^6#X!VVUY#)HD#EHFHE#<KDCBH#IKA@OBK#IKH#EDJI#BED<;DE#<L<EH#1&(-$&-*>J>#h_">hch6#2<0@CFHEE7#36#:#'FDCJ7#%6#XU""_Y#3"&,#-)0)C/*#$I*0($C4(%'(&%W*3B)"(C($#0*34%'"#0(#*($*C0)B#0*N-"%N-&'(M-#X.RM@AP#$C;FHAJ;IL#3AHJJ7#2HE?@OACH6Y#

2<[C;BKI7# &6# XU"""Y# U-)N0-:* &)4$'"(-%* #$I* ',-* .#($B)A* 1-"N-$'2* 1/%'-F%* )+* P0#%%(+(&#'()$* #F)$C* ',-*V#"I(0*)+*L)"$($C')$*\%0#$I*5.RM@AP#$C;FHAJ;IL#3AHJJ7#.RM@AP6Y#

2<%;FHC7#,6#XU""UY#*HHSDK#9HD<KW#%HS#HF;PHC<H#M@A#1@E@<HCH#<@DJIDE#@<<OQDI;@C#;C#J@OIKHDJI#NOHHCJEDCP#;C#34%'"#0(#$*3"&,#-)0)C/#AA#Ub>!_6#

2HGG@II7#36#XU"_"Y#f/DAP;E#3A@QHAI;HJ#@M#3ED<Hg7#3K&#*KHJ;J7#$C;FHAJ;IL#@M#NOHHCJEDCP7#)I#/O<;D6#

2HGG@II7# 36# XU"c!Y# f*KH# )@OIK# THEEHJEHL# ,JEDCPJ# DCP# IKH# [D;DP;EIW# +# K;JI@AL# DCP# DC# DCDELJ;J# @M# IKH#J;BC;M;<DC<H# @M# IKH# EDCP# DCP# ;IJ# QH@QEHg# $CQO?E;JKHP# GJ7# X+?@A;B;CDE# &DID# +A<K;FH7# &HQDAIGHCI# @M#+A<K;IH<IOAH7#$C;FHAJ;IL#@M#NOHHCJEDCP7#)I#/O<;DY6#

2HGG@II7#36#XU"caY#)@<;DE#)IAO<IOAH#DCP#$JH#@M#)QD<H#DG@CBJI#IKH#/DAP;E6#3Q6#aa>hd6#,C#3HIHAJ@C7#%6#DCP#/DCBI@C7# 26# XHPJY# 3B)"(C($-%:* V#$I* #$I* V#$I* .(C,'%7# +OJIADE;DC# ,CJI;IOIH# @M# +?@A;B;CDE# )IOP;HJ7#0DC?HAAD6#

2HGG@II7#36#XU"cdY#+?@A;B;CDE#M;JK#IADQJ#;C#IKH#-OEM#@M#0DAQHCIDA;D#DCP#THEEHJEHL#,JEDCPJ#AHJHDA<K#QA@\H<I6#(HQ@AI#@C#PDID#<@EEH<I;@C#DCP#<@GQ;EDI;@C7#$CQO?E;JKHP#AHQ@AI6#Y+?@A;B;CDE#&DID#+A<K;FH7#$C;FHAJ;IL#@M#NOHHCJEDCP7#9A;J?DCHY6#

2HGG@II7#36#XU"chY#2DIHA;DE#0OEIOAH#@M#IKH#%@AIK#THEEHJEHL#,JEDCPJg#QAHQDAHP#M@A#QO?E;<DI;@C#;C#(HLC@EPJ7#96#XHP6Y#34%'"#0(#$*L#'-"(#0*P40'4"-#8#X%@AIK>HDJI#+OJIADE;DY7#+,+*),)7#0DC?HAAD#XAHGD;CJ#OCQO?E;JKHPY6#

2HGG@II7#36#:#(@?;CJ7#(6#XU"cbY#+#AHQ@AI#@C#D#?OA;DE#J;IH#DI#3;LDE7#2@AC;CBI@C#,JEDCP6#$CQO?E;JKHP#AHQ@AIY#XNOHHCJEDCP#2OJHOG7#9A;J?DCHY6##

2HGG@II7#367#(@?;CJ7#(6#:#*A;BBHA7#&6#U"cb#+?@A;B;CDE#M;JK#IADQJ#;C#IKH#-OEM#@M#0DAQHCIDA;D6#$CQO?E;JKHP#Q@JIHA7#+OJIADE;DC#+A<KDH@E@B;<DE#+JJ@<;DI;@C#0@CMHAHC<H7#8DEED#9HD<K6#

2HGG@II7#36#:#*A;BBHA7#&6#XU""cY#2DA;CH#*HCOAH#;C#IKH#THEEHJEHL#,JEDCPJ#(HB;@C7#-OEM#@M#0DAQHCIDA;D6#3Q6#UV">U!b6# ,C# 3HIHAJ@C7# %6# DCP# (;BJ?L7# 96# XHPJY# P4%')F#"/* L#"($-* !-$4"-* ($* 34%'"#0(#7# .<HDC;D#2@C@BADQK#%@6#BK7#$C;FHAJ;IL#@M#)LPCHL6#

2HGG@II7#367#(@?;CJ7#(6#:#)I@<Z7#'6#X!VVbY#TKDI#HRD<IEL#;J#D#M;JK#IADQk#2HIK@P@E@B;<DE#;JJOHJ#M@A#IKH#JIOPL#@M#+?@A;B;CDE# ;CIHA>I;PDE# A@<Z>SDEE# M;JK# IADQJ7#THEEHJEHL# ,JEDCPJ#(HB;@C7#-OEM# @M#0DAQHCIDA;D7#+OJIADE;D#X3DQHA#QAHQDAHP# M@A# IKH# j-E@?DE#3HAJQH<I;FHJ#@C# IKH#+A<KDH@E@BL#@M# ,JEDCPJ#0@CMHAHC<H`7#$C;FHAJ;IL#@M#+O<ZEDCP7#c>UU#&H<HG?HA#!VVbY#+?@A;B;CDE#'CF;A@CGHCIJ#(HJHDA<K#0HCIAH7#$C;FHAJ;IL#@M#NOHHCJEDCP7#)I#/O<;D6#

.`0@CC@A7# )6# XU"c"Y# %HS# (DP;@<DA?@C# PDIHJ# MA@G# [@@EDC# ,JEDCP7# THJI# [;G?HAEHL7# THJIHAC# +OJIADE;D#34%'"#0(#$*3"&,#-)0)C/#>KI#"!>UVb6#

.`0@CC@A7#)6#XU""!Y#*KH#I;G;CB#DCP#CDIOAH#@M#QAHK;JI@A;<#;JEDCP#OJH#;C#C@AIKHAC#+OJIADE;D7#3"&,#-)0)C/*($*K&-#$(##>EI#b">hV6#

.`0@CC@A7# )6# XU"""Y# <7:777* ]-#"%* )+* K&&4N#'()$Y* G(FB-"0-/:* W)"',*J-%'* 34%'"#0(#7# *HAAD# +OJIADE;J# 8B6#X+%1#3O?E;<DI;@CJ#DCP#IKH#0HCIAH#M@A#+A<KDH@E@B;<DE#(HJHDA<K7#+%$7#0DC?HAAD6Y#

.`-ADPL7# -67# 8@HBHE;C7# 06# :#8@HBHE;C7# 56# XU"hhY# /DCBODBHJ# @M# IKH#T@AEPW# ,CP@>3D<;M;<# 5DJ<;<EH# );R# ;C#+CIKA@Q@E@B;<DE# /;CBO;JI;<J# 3"&,(M-%* )+* V#$C4#C-%* )+* ',-* J)"0I# KX!Y7# X+CIKA@Q@E@BL# &HQDAIGHCI7#,CP;DCD#$C;FHAJ;ILY#5H?AODAL6#

36#2'22.**7#%6#'8+%)7#(6#(.9,%)#:#,6#/,//'4#

####bh

(@?;CJ7# (6# XU"c!Y# (HQ@AI# @C# D# QAHE;G;CDAL# DA<KDH@E@B;<DE# AH<@CCD;JJDC<H# @M# )SHHAJ# ,JEDCP6# $CQO?E;JKHP#AHQ@AI6#XNOHHCJEDCP#2OJHOG7#9A;J?DCH6Y##

(@?;CJ7#(6# XU"caY#-OEM# @M#0DAQHCIDA;D# M;JK# IADQ#JOAFHL# JOGGDAL6#$CQO?E;JKHP#GJ6# XNOHHCJEDCP#2OJHOG7#9A;J?DCHY6#

(@?;CJ7# (67# )I@<Z7# '6# :# *A;BBHA7# &6# XU"cdY# +# AHQ@AI# @C# BH@G@AQK@E@B;<DE7# DCIKA@Q@E@B;<DE# DCP#DA<KDH@E@B;<DE#;CFHJI;BDI;@CJ#@M#IKH#<@DJIDE#EDCPJ#MA@G#3@;CI#3DAZHA#I@#';BKI#2;EH#0AHHZ7#J@OIKHAC#-OEM#@M#0DAQHCIDA;D6#$CQO?E;JKHP#AHQ@AI6#XNOHHCJEDCP#2OJHOG7#9A;J?DCHY6#

(@?;CJ7# (67# )I@<Z7# '6# :# *A;BBHA7# &6# XU""cY# )DEISDIHA# QH@QEH7# )DEISDIHA# <@OCIALW# -H@G@AQK@E@B;<DE7#DCIKA@Q@E@B;<DE#DCP#DA<KDH@E@B;<DE#;CFHJI;BDI;@CJ#@M#IKH#<@DJIDE#EDCPJ#;C#IKH#J@OIKHAC#-OEM#@M#0DAQHCIDA;D6#L-F)("%*)+*',-*^4--$%0#$I*L4%-4F#8#_d>U!d6#

(@OBKJHL7#&6#XU"_UY#L))$*#$I*.#($B)AY*!,-*#4')B()C"#N,/*)+*#$*3B)"(C($#06#(HHP7#+OJIADE;D6#(@SEDCP7# 26# XU"""Y# *KH# [HQQHE# ,JEDCPJ# l# jD# aVVV# LHDA`# HFHCI# AHF;J;IHP6# 3Q6# UbU>Udd6# ,C# 1DEE7# ^6# :#2<%;FHC7#,6#XHPJY#34%'"#0(#$*P)#%'#0*3"&,#-)0)C/#X+%1#3O?E;<DI;@CJ7#&HQI#@M#+A<KDH@E@BL#DCP#%DIOADE#1;JI@AL7#()3+)7#*KH#+OJIADE;DC#%DI;@CDE#$C;FHAJ;IL7#0DC?HAADY6#

);GG@CJ7# (67# -ADLP@C7# ^6# :# *;CPDEH7# %6# XU"hbY# 5OAIKHA# ?E@@P# BA@OQ# BHCHI;<DE# JIOP;HJ# @C# +OJIADE;DC#+?@A;B;CHJ# @M# 9HCI;C<Z7#2@AC;CBI@C# DCP# 5@AJLIK# ,JEDCPJ# DCP#GD;CEDCP7# -OEM# @M# 0DAQHCIDA;D7# I@BHIKHA#S;IK#MAHiOHC<;HJ#M@A#CDI;FHJ#@M#IKH#THJIHAC#&HJHAI7#THJIHAC#+OJIADE;D#K&-#$(##AC#hh>cV6#

);GG@CJ7#(67#*;CPDEH7#%6#:#9;APJHEE7#^6#XU"h!Y#+#9E@@P#-A@OQ#-HCHI;<DE#)OAFHL#;C#+OJIADE;DC#+?@A;B;CHJ#@M#9HCI;C<Z7# 2@AC;CBI@C# DCP# 5@AJLIK# ,JEDCPJ7# -OEM# @M# 0DAQHCIDA;D# ;C# 3F-"(&#$* R)4"$#0* )+* U,/%(&#0*3$',")N)0)C/*>L#aVa>a!V6#

)G;IK7# 26# :# 1HJJH7# 36# XHPJY# X!VVdY# 3"&,#-)0)C/* #$I* Q$M(")$F-$'#0* S(%')"/* )+* ',-* 1)4',-"$* E-%-"'%6#%DI;@CDE#2OJHOG#@M#+OJIADE;D7#0DC?HAAD6#

*;CPDEH7#%6#XU"h!DY#-H@BADQK;<#ZC@SEHPBH#@M#IKH#[D;DP;EI#QH@QEH#@M#9HCI;C<Z#,JEDCP7#NOHHCJEDCP6#.-&)"I%*)+*',-*1)4',*34%'"#0(#$*L4%-4F#8B#!d">!"h6#

*;CPDEH7#%6# XU"h!?Y#)@GH#Q@QOEDI;@C# <KDCBHJ# DG@CB# IKH#[D;DP;EI# QH@QEH#@M#9HCI;C<Z# ,JEDCP7#NOHHCJEDCP#.-&)"I%*)+*',-*1)4',*34%'"#0(#$*L4%-4F#8B#!"_>aah6#

*;CPDEH7#%6#XU"haY#m^@OACDE#@M#5;HEP#*A;Q#I@#THEEHJEHL#,JEDCPJn7#)@OIK#+OJIADE;DC#2OJHOG7#+PHED;PH6#

*;CPDEH7# %6# XU"__Y# 5OAIKHA# AHQ@AI# @C# IKH# [D;DP;EI# QH@QEH# @M# 9HCI;C<Z# ,JEDCP7# -OEM# @M# 0DAQHCIDA;D7#NOHHCJEDCP6#3Q6#!b_>!_a6#,C#+EEHC7#^67#-@EJ@C7#^6#:#^@CHJ7#(6#XHPJY#14$I#*#$I*1#,40Y*U"-,(%')"(&*1'4I(-%*($*1)4',-#%'*3%(#:*L-0#$-%(#*#$I*34%'"#0(#:#X+<DPHG;<#3AHJJ7#/@CP@CY6#

*;CPDEH7#%6#XU"cUY#3AHK;JI@AL#@M#IKH#+?@A;B;CHJW#J@GH#;CIHAHJI;CB#<@CJ;PHADI;@CJ6#3Q6#U_h!>U_"_6#,C#[HDJI7#+6#XHPY#Q&)0)C(&#0*Z()C-)C"#N,/*)+*34%'"#0(##A7#XT6#^OCZ#3O?E;JKHAJ7#*KH#1DBOHY6#

*A;BBHA7#&6#XU"cdY#+#JHEH<I;FH#QK@I@BADQK;<#AH<@AP#@M#+?@A;B;CDE#JI@CH#SDEE#M;JKIADQJ#DI#9DLEHL#3@;CI7#-OEM#@M#0DAQHCIDA;D7#C@AIKSHJI#NOHHCJEDCP6#$CQO?E;JKHP#GJ6#XNOHHCJEDCP#2OJHOGY6#

*A;BBHA7# &6# XU"c_Y# ,CEDCP7# 0@DJI# DCP# ,JEDCPJW# *ADP;I;@CDE# +?@A;B;CDE# )@<;HIL# DCP# 2DIHA;DE# 0OEIOAH# ;C# D#(HB;@C#@M#IKH#)@OIKHAC#-OEM#@M#0DAQHCIDA;D#.-&)"I%*)+*',-*1)4',*34%'"#0(#$*L4%-4F#>8#h">cb6#

$EG7#)67#96#9DAZHA7#+6#9@APHA7#^6#1DEE7#,6#/;EEHL7#,6#2<%;FHC7#(6#%HDE#:#26#(@SEDCP#XU""dY#3AH>'OA@QHDC#<@DJIDE#JHIIEHGHCI#DCP#OJH#@M#IKH#JHDW#+#F;HS#MA@G#NOHHCJEDCP#34%'"#0(#$*3"&,#-)0)C/#B8#!b>!h6#

8HIK7#36#XU"""Y#*KH#@<<OQDI;@C#@M#DA;P#<@DJIE;CHJ#POA;CB#IKH#IHAG;CDE#3EH;JI@<HCH#@M#+OJIADE;D6#3Q6#hd>_!6#,C#1DEE7#^6#:#2<%;FHC7#,6#XHPJY#34%'"#0(#$*P)#%'#0*3"&,#-)0)C/7#X+%1#3O?E;<DI;@CJ7#+%$7#0DC?HAAD7Y6#

8HIK7#367#.`0@CC@A7#)6#:#TDEE;J7#/6#X!VVVY#3HAJQH<I;FHJ#@C#H<@E@B;<DE#DQQA@D<KHJ#;C#+OJIADE;DC#DA<KDH@E@BL#34%'"#0(#$*3"&,#-)0)C/*CL#db>hh6#

8HIK7#367#)G;IK7#26+6#:#1;J<@<Z7#36#XHPJY#X!VVdY#E-%-"'*U-)N0-%Y*3"&,#-)0)C(&#0*U-"%N-&'(M-%#X9ED<ZSHEE#3O?E;JK;CB7#.RM@AP6Y##

TK;IH7#%6#XU""_Y#-HCHJ7# EDCBODBHJ#DCP#EDCPJ<DQHJ# ;C#+OJIADE;D6#3Q6#bd>cU6#,C#2<0@CFHEE7#36#:#'FDCJ7#%6#XHPJY#3"&,#-)0)C/*#$I*V($C4(%'(&%Y*3B)"(C($#0*34%'"#0(#*($*T0)B#0*U-"%N-&'(M-#X.RM@AP#$C;FHAJ;IL#3AHJJ7#2HE?@OACH7Y6#

#

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

# b_

:*,*+$1#(#################################################;# # # # #+JJ@<#3A@M#3DOE#2HGG@II# ;J#&;AH<I@A#@M#+?@A;B;CDE#'CF;A@CGHCIJ#(HJHDA<K#0HCIAH7#$C;FHAJ;IL#@M#NOHHCJEDCP7#9A;J?DCHe# 3A@M# %;<Z# 'FDCJ# ;J# ;C# IKH# &HQDAIGHCI# @M# /;CBO;JI;<J# DCP# +QQE;HP# /;CBO;JI;<J7# )<K@@E# @M# /DCBODBHJ7#$C;FHAJ;IL# @M# 2HE?@OACHe# &A# (;<KDAP# (@?;CJ# ;J# D# 0@CJOEIDCI# +A<KDH@E@B;JI7# DCP# +P\OC<I# +JJ@<;DIH# 3A@MHJJ@A7#)<K@@E#@M#1OGDC#DCP#'CF;A@CGHCIDE#)IOP;HJ7#$C;FHAJ;IL#@M#%HS#'CBEDCP7#+AG;PDEHe#&A#,DC#/;EEHL#;J#?DJHP#;C#IKH#+?@A;B;CDE#DCP#*@AAHJ#)IAD;I#,JEDCPHA#)IOP;HJ#$C;I#@M#IKH#$C;FHAJ;IL#@M#NOHHCJEDCP6#.OA#<@EEHDBOHJ#DJJ;JI;CB#OJ#S;IK#@OA# @CB@;CB# AHJHDA<K# ;C# IKH#THEEHJEHL# AHB;@C# DAH#&A# )HDC#$EG# @M#$C;FHAJ;IL# @M#NOHHCJEDCP7#&A#'AA@E# )I@<Z# @M#-A;MM;IK#$C;FHAJ;IL7#&A#&DF;P#*A;BBHA#@M#$C;FHAJ;IL#@M#THJIHAC#+OJIADE;D7#&A#%HF;EEH#TK;IH#@M#/D#*A@?H#$C;FHAJ;IL#DCP#&A#)KH;ED#3HEEHZDDC>1@EJI#@M#$C;FHAJ;IL#@M#%HS#)@OIK#TDEHJ6#

;;## *KH#\@OACHL#?HISHHC#IKH#%@AIK#DCP#)@OIK#THEEHJEHLJ#SDJ#G@AH#<KDEEHCB;CB#JI;EE7#@S;CB#I@#IKH#@QHC>JHD#P;JIDC<H#@M#DA@OCP# dV# ZG# QEOJ# <KDEEHCB;CB# AHHMJ# DCP# S;CPJ7# DCP# IKHAH# DQQHDAJ# I@# KDFH# ?HHC# C@# PHE;?HADIH7# P;AH<I# <@CID<I#?HISHHC#IKH#%@AIK#DCP#)@OIK#THEEHJEHLJ7#IK@OBK#IKHAH#DAH#D<<@OCIJ#@M#XD<<;PHCIDEY#@CH>SDL#F@LDBHJ#@C#IADP;I;@CDE#SDIHA<ADMI#MA@G#IKH#)@OIK#I@#IKH#%@AIK#THEEHJEHLJ#X(@OBKJHL#U"_UY6#

;;;# # *KH# DOIK@AJ# DAH# ;CPH?IHP# I@# @OA# <@EEHDBOH# &A# 'AA@E# )I@<Z# @M# *KH# +OJIADE;DC# )<K@@E# @M# 'CF;A@CGHCIDE# )IOP;HJ7#-A;MM;IK#$C;FHAJ;IL#M@A#K;J#BO;PDC<H#;C#SA;I;CB#IK;J#JH<I;@C#@M#IKH#QDQHA#

;F### *;CPDEH#XU"__W!dUY#GHCI;@CJ#jIKH#M;CP;CB#@M#D#<AOPH#?;MD<;DE#JI@CH#I@@E#@M#F#"(A#*ILQH#666#ZC@SC#I@#IKH#;JEDCPJ#DJ#mjI\;ED%DCPn7#SK;<K#SDJ#;C#J;IO#;C#PHQ@J;IJ#SK;<K#KDP#?HHC#QEDCHP#POA;CB#IKH#G;P>(H<HCI#K;BK#JHD#EHFHEJ#?HISHHC#D?@OI# hVVV# DCP# acVV#93# DCP# JO?JHiOHCIEL# HRQ@JHP# ?L# EDIHADE# BOEEL# HA@J;@C6`# ,I# ;J# OC<EHDA# MA@G# IK;J# PHJ<A;QI;@C#SKHIKHA#IKH#I@@E#I@#SK;<K#KH#AHMHAJ#<@OEP#KDFH#?HHC#PHQ@J;IHP#;C#QAH>#@A#HDAEL>1@E@<HCH#I;GHJ7#POA;CB#X@OAY#j)IDBH#XDY`7#@A#SKHIKHA#;I#GOJI#KDFH#?HHC#PHQ@J;IHP#POA;CB#IKH#QHA;@P#@M#G;P>1@E@<HCH#K;BK#JHD#EHFHEJ6#

F## *K;J#Q@QOEDI;@C#HJI;GDIH#;J#JQH<OEDI;FH#DCP#?DJHP#@C#*;CPDEH`J#HJI;GDIHJ#XU"h!?Y6(F;## *KHAH#DAH#J@GH#@IKHA#GD;CEDCP#EDCBODBHJ#DEJ@#;CF@EFHP#;C#IK;J#<EDJJ;M;<DI;@C7#F;]#2;CZ;C#DCP#%BO?OA;C\;#?OI#IKHL#DAH#C@I#AHEDIHP#I@#IKH#DCDELJ;J#;C#IK;J#QDQHA#666#JHH#'FDCJ#X!VV!Y6*

F;;## *K@OBK# IKHAH# SHAH# J@<;DE# AHJIA;<I;@CJ# @C# SK@# <@OEP# OJH# ;I# l# CDGHEL# JH<@CP>PHBAHH# ;C;I;DIHJ# l# ;I# SDJ# BHCHADEEL#D<<HQID?EH# I@# OJH#E-F(($# @OIJ;PH# <HAHG@C;DE# <@CIHRIJ7# HR<HQI# ;C# IKH# QAHJHC<H#@M# <HAID;C# AHEDI;FHJ# XJHH#2<[C;BKI#U"""Y6#

F;;;##)HH#1DEH#XU"_a7#U"c!Y7#2<[C;BKI#XU"""Y7#DCP#1DEH#:#%DJK#XU""_Y#M@A#MOAIKHA#;CM@AGDI;@C6#;R## *KH# J@<;@E;CBO;JI;<# ;CC@FDI;@C# @M# KDF;CB# D# JQH<;DE# ;C;I;DI;@C# AHB;JIHA7#E-F(($7# DQQHDAJ# I@# ?H# D# AH<HCI# ;CC@FDI;@C#S;IK;C#4DCBZDDE7#?@AA@SHP#;CI@#/DAP;E#X'FDCJ#!VVdY6##*K;J#KLQ@IKHJ;J#;J#JOQQ@AIHP#?L#D#JD<AHP#K;JI@AL#SK;<K#;J#IKH#JO?\H<I#@M#D#<L<EH#@M#/DAP;E=4DCBZDDE# ;C;I;DI;@C#J@CBJ7#SKHAH?L# IKH#DC<HJIADE# JHD#DCP#?;AP#DC;GDE#?H;CBJ#K@EP# IKH#M;AJI# GDEH# ;C;I;DI;@C# @C# &HCKDG# ,JEDCP# ;C# 4DCBZDDE# IHAA;I@AL# DCP# IKHC# IADFHE# DE@CB# IKH# J@OIK>HDJI# <@DJI# @M#2@AC;CBI@C# ,JEDCP#QHAM@AG;CB#QDAIJ# @M# IKH# <HAHG@CL# DI# FDA;@OJ# QED<HJ# DCP# ;C# IKH# D<<@GQDC;GHCI# @M# IKH#4HEE@S#*AHFDEEL6#*K;J#JOBBHJIJ#D#4DCBZDDE#I@#/DAP;E#P;AH<I;@C#@M#D<<OEIOADI;@C6##

R## +#G@AH#PHID;EHP#DCDELJ;J#@M#J@GH#@M#IK;J#GDIHA;DE#;J#I@#?H#M@OCP#;C#'FDCJ#X!VV!7#!VVdY6#R;## +EIK@OBK# *;CPDEH# X*;CPDEH# U"h!D7# U"h!?7# U"__7# U"cUY# OCPHAI@@Z# AHJHDA<K# ;C# IKH# THEEHJEHLJ7# QDAI;<OEDAEL# @C#9HCI;C<Z#,JEDCP7#DCP#JQH<OEDIHP#@C#IKH#QAHK;JI@AL#@M#IKH#[D;DP;EI7#E;IIEH#@M#;I#SDJ#?DJHP#@C#DA<KDH@E@B;<DE#HF;PHC<H6#+A<KDH@E@B;<DE# AHJHDA<K# AHDEEL#@CEL#?HBDC# ;C# IKH#U"cVJ7#SKHC#D# JHA;HJ#@M# JGDEE#DA<KDH@E@B;<DE7# HIKC@BADQK;<#DCP#HCF;A@CGHCIDE# QA@\H<IJ# SHAH# QA@G@IHP# ?L# (@?;CJ# DCP# K;J# <@EEHDBOHJ6# ,C# IKH# U"cVJ# DCP# "VJ7# (@?;CJ# OCPHAI@@Z#DA<KDH@E@B;<DE# AH<@CCD;JJDC<H# JOAFHLJ# DCP# IHJI# HR<DFDI;@C# ;C# <@C\OC<I;@C# S;IK# 2HGG@II# @C# 2@AC;CBI@C# DCP#)SHHAJ# ,JEDCPJ# X(@?;CJ# U"c!7#2HGG@II# U"c!7# U"cd7#2HGG@II#:#(@?;CJ# U"cbY6#(@?;CJ#-'* #02* XU"cd7U""cY# DEJ@#OCPHAI@@Z#S@AZ# @C# IKH# DP\D<HCI#GD;CEDCP# <@DJIE;CH# ;C# U"ca# DCP# U"cc6# ,C# DPP;I;@C# I@# IK;J#S@AZ7# DEE# @M# OJ# \@;CIEL#OCPHAI@@Z#D#JOAFHL#@M#JI@CH#SDEE#M;JK#IADQJ#DCP#IKH;A#BH@G@AQK;<#<@CIHRI7#@C#IKH#GD;CEDCP#<@DJIE;CH#DCP#IKA@OBK@OI#IKH#;JEDCPJ#;C#U"ca#DCP#!VVb#X(@?;CJ#U"ca7#2HGG@II#HI#DE#U"cb7#!VVbY6#

R;;## 26#9DA?HII;7#2D<;CI@JK#&DI;CB#0HCIAH7#$C;FHAJ;IL#@M#)LPCHL7#Q6<6#I@#(6#(@?;CJ7#+OBOJI#!VVd6#R;;;##,C#U"ca7#JHFHADE#@M#@OA#AHJHDA<K#IHDG#X(@?;CJ7#*A;BBHA7#2HGG@IIY#GDPH#DC#DHA;DE#JOAFHL#@M#G@JI#@M#IKH#THEEHJEHL#,JEDCPJ#DCP#IKH#GD;CEDCP#?HISHHC#2@@CE;BKI#0AHHZ#DCP#9DLEHL#3@;CI7#JQH<;M;<DEEL#I@#E@<DIH#M;JK#IADQJ6#,C#DPP;I;@C#I@#DHA;DE#JOAFHLJ7#J@GH#BA@OCP#JOAFHLJ#<@OQEHP#S;IK#HIKC@BADQK;<#AH<@AP;CB#SHAH#OCPHAIDZHC#@C#IKH#IADQJ#DI#9DLEHL#3@;CI#DCP#3@;CI#3DAZHA#X2HGG@II#-'*#02#XU"cbY7#(@?;CJ#XU"caY7#(@?;CJ#-'*#02#XU""cY7#*A;BBHA#XU"cd7#U"c_YY7#DCP#@C#JHEH<IHP#IADQJ#@C#2@AC;CBI@C#DCP#)SHHAJ#,JEDCP6#

#