r(LG@RQ2US(RGwM@L2S@D`LÆ

”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBN

7X@MLÆ
EIZ­OBN

r(L×-CMBHB1S@D))UKUOTYT“@,AQ@LH¢J@Â
°S²NBDDBOEBOBDBSDJUPKKWBMBWBQVÁ°VLM­NCBS­NBMMJL­

L@K@K@HKSJ—-SK@eHUKR-LTÄ@UK(Y@DÃM@
N­M­M­MJUBLVOUBM­QSBWJMBTBONVLU­WBM²°PCIBO­]

RU1\@MHMW@MOT2SJWQ@k¸@<L@K@H–S@
TBSWBK¸­OBOJEI­OBQVTUBLBEIBS­SVES­L¹BN­M­µLJU­

U@&CDU(UCM@,ATIDURSTLD`$K@D*XL@S@YTÃ@
W­HEFW²WBEBO­NCVKFWBTBUVNFUSBJMPLZBN­U­°VCI­]]

r(M@QCU@BÂ
°S²O­SBEBVW­DB

ÃFU-OQLDY@MRU1K@DJ$JM@XJ
CIBHBWBOQBSBNF°­OBTBSWBMPLBJLBO­ZBLB]

JVRQ2US(R@<@3eRº@OQLDHtM 
LBUIB©TBSBTWBU²T­L¹­UQSBTBOO­QBSBNF¹¾IJOBÁ]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 2 of 35

JVCD5X@LG@U@ZX@RS3e@ORT¯K1ÃLÆ
LBUIB©EFWZ­NBI­W­´Z­ÁTBUBUQS­QBTVEVSMBCIBN]

S-LDUCS3UDMLG@X@DF(sQeÃ@D 
FUBONFWBEBUBUWFOBNBI­ZPH²°WBSBQSBCIP]]]]

r(RM3J—L@QU@BÂ
°S²TBOBULVN­SBVW­DB

R@WTOu3UX@g|MÆFTÐ@¶«ÐLMT^LLÆ
T­EIVQ®¹¾B©UWBZ­CSBINBOHVIZ­EHVIZBNBOVUUBNBN]

ÃX@MTF@DHOSX‰@HCC@M(ŸR3eJ@9XSD 
CIBZ­OVHPQJUB©ZBUO­EJE­O²©TBUQSBL­°ZBUF]]]]

OTQ@HOS@LG}PU@IF32V@UQIØLLÆ
QVS­QJU­NBIB©E®¹¾W­KBHBUTUI­WBSBKBµHBNBN]

HMHU1J@QHMQ@Ã@R2SÃ(Ã4SLBDSRLÆ 
OJSWJL­SB©OJS­CI­TB©TUBNCI²CIÄUBNBDFUBTBN]]]]

RPU@`$K@D*XLHNKU@FÃ@U@^V@HUWLÆ
T®¹¾W­USBJMPLZBNBLIJMB©W­HBCI­W­UUBUI­WJEIBN]

@HW*X@Ã@US2U2XOQLDt(IF¶«k 
­EIJLZ­CI­WBUBÁTWBTZBQBSBNF¹¾I²KBHBEHVSVÁ]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 3 of 35

HC5XU@1XTSSDMSO@D¯JQLT^LLÆ
EJWZBWBS¹­ZVUB©UFOBUBQPEV¹LBSBNVUUBNBN]

SSJC@HB3RI@S@U@:(RU@1V1Y@DHÃS@ 
UBUBÁLBE­DJUTB¸K­U­W­´²TBSW­SUIB°PCIJU­]]]]

GLH2LLG@HU
@RU1U@B@LW(sQ(
BIBNBTNJNBI­WJEZ­TBSWBW­D­NBEI²°WBS²]

LLM@j@RGwSTOCDyX@,XMT^LLÆ 
NBNBO­NO­©TBIBTSB©UVVQBEFL¹Z­NZBOVUUBNBN]]]]

MDMR2STS@HM3XO‰(SUÃU@,XGLÆ
BOFOBTB©TUVU­OJUZB©QBUO²UBWBCIBW­NZBIBN]

3UX@RuIF3RU’U@:(XTÄÃHUXHS 
UWBZ­T®¹¾B©KBHBUTBSWB©W­´²ZVLUB©CIBWJ¹ZBUJ]]]]

ÅCQG2XOQLLLM@LRGwJLÆ
JEB©SBIBTZB©QBSBNB©NBNBO­NBTBIBTSBLBN]

RU1O@O@$ÇYLMLG@R@Q2USeCLÆ 
TBSWBQ­QBVHIB°BNBOB©NBI­T­SBTWBUBQSBEBN]]]]

LG@JHU3UCK@DJDU@F(Y3UeC@XJLÆ
NBI­LBWJUWBEB©MPLFW­H²°BUWBQSBE­ZBLBN]

3UU@OQOTL@-X2ST2SUDM@MDMS@DXDSÆ 
UWB©W­QBSBÁQVN­OZBTUVTUBWFO­OFOBUP¹BZFU]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 4 of 35

S2X@GHJJQ(R@<@aHUX@HLMRYX
UBTZ­IB©LJµLBS²T­L¹­ECIBWJ¹Z­NJOBTB©°BZBÁ]

Å3XT…U@-SC1WDU@:(SC@Q>XHOS@LG 
JUZVLUW­OUBSEBEIFW­´²UBE­SBCIZBQJU­NBIBÁ]]]]

2ST3U@2S@D`D:HC5XDMS3OHS3ULU@ÏU@MÆ
TUVUW­TUPUSF´BEJWZFOBUBUQBUJUWBNBW­QUBW­O]

U@:(XTÄIF3RU’SC@Q>X@ÃU-LTMD 
W­´²ZVLUB©KBHBUTBSWB©UBE­SBCIZ­CIBWBONVOF]]]]

S^DGReUyX@HLY:TX‰DMM@QC
UBUUFIB©TBNQSBWBL¹Z­NJ°®´VZBUOFOBO­SBEB]

R@UW@MLM@Ã43U@<:YTµ@DLTM(sQ 
T­WBEI­OBNBO­CIÄUW­L¹B´B©°VEEIPNVO²°WBSBÁ]]]]

×××
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 5 of 35

U@&U@:(UQC@U-
@UQ@Q@DG@UQeC@
W­HW­´²WBSBE­WBOEZ­WBS­SPI­WBSBQSBE­]

UH^U@1F(sQ(U@S@1UQ@U@F(YU¢Ã@ 
W®UUJSW­H²°WBS²W­SU­WBS­W­H²°BWBMMBCI­]]]]

HUsDsQ(HUsU-
@HUsDYHeXJ@HQ:(
WJ°WF°WBS²WJ°WBWBOEZ­WJ°WF°BQSJZBL­SJ´²]

U@&U@HCM(BU@&CDU(UHµC@UHµJ@HQ:( 
W­HW­EJO²DBW­HEFW²W®EEIJE­W®EEIJL­SJ´²]]]]

UHµU1µ@HUÔ(BUHuU1HueC@HXM(
W®EEIJSW®EEI­WJ¹BHIO²DBW®¹¾JSW®¹¾JQSBE­ZJO²]

HUs@Q@7X@HUsL@S@HUsW@`(HUM@XJ@ 
WJ°W­S­EIZ­WJ°WBN­U­WJ°WBEI­US²WJO­ZBL­]]]]

HUsYHÄHU1sR@Q@HUs@HUsHUÃ@UQ(
WJ°WB°BLUJSWJ°WBT­S­WJ°W­WJ°WBWJCI­WBS²]

UDC@-SUDHCM(UD
@HU^@UDC`X@H3LJ@ 
WFE­OUBWFEJO²WFEZ­WJUU­WFEBUSBZ­UNJL­]]]]

UDC\@UDCIMM(HUs@HUsHUÃ@UQ(
WFEBK¸­WFEBKBOBO²WJ°W­WJ°WBWJCI­WBS²]

UQDZX@U@LX(Uµ@HUHYuHeXJ@HQ:( 
WBSF´Z­W­µNBZ²W®EEI­WJ°J¹¾BQSJZBL­SJ´²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 6 of 35

HUsS@DUCM@5X@Ï@5X@HOM(5X@OJ@H3LJ@
WJ°WBUPWBEBO­WZ­QU­WZ­QJO²WZ­QBL­UNJL­]

5X@ÌÔ(5X@ÌÃ4@F(HUQI@UDCM@HXJ@ 
WZ­ÅBHIO²WZ­ÅBCIĹ­µH²WJSBK­WFEBO­ZJL­]]]]

UDCUDC@-SRUD
@UDC@-S\@MmHO:(
WFEBWFE­OUBTB©WFEZ­WFE­OUBK¸­OBSÄQJ´²]

HUÃ@UQ(BHUÖ@-S@HUs@HL`@HUHWHeX@ 
WJCI­WBS²DBWJLS­OU­WJ°W­NJUS­WJEIJQSJZ­]]]]

UHQt@HUeJ•u@BHUeUX1eO4HIS@
WBSJ¹¾I­WJQSBL®¹¾­DBWJQSBWBSZBQSBQÄKJU­]

UDCmO@UDCLX(UDCL4HS1oU¢Ã@ 
WFEBSÄQ­WFEBNBZ²WFEBNÄSUJ°DBWBMMBCI­]]]]

F@$Q(FT:US(F@D/X@F-WU1MFQHeX@
HBVS²HV´BWBU²HPQZ­HBOEIBSWBOBHBSBQSJZ­]

FT:L@S@FTG@-S2V@FTkmO@FTkHeX@ 
HV´BN­U­HVI­OUBTUI­HVSVSÄQ­HVSVQSJZ­]]]]

HFHQHU
@F@MSTu@F@XJHeXJ@HQ:(
HJSJWJEZ­H­OBUV¹¾­H­ZBLBQSJZBL­SJ´²]

F@X`(HFHQY@Q@7X@F(HF1Q(YHeXJQ( 
H­ZBUS²HJSJ°­S­EIZ­H²SHJS²°BQSJZBµLBS²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 7 of 35

HFHQ\@\@MHU
@BHFHQmO@HFQ(sQ(
HJSJK¸­K¸­OBWJEZ­DBHJSJSÄQ­HJS²°WBS²]

F(L@1S@F:R2ST3X@F:M(XFT:@H-US@ 
H²SN­U­HB´BTB©TUVUZ­HB´BO²ZBHV´­OWJU­]]]]

F4%mO@FTG@F@D/X@F@DmO@F@$FT1:@H3LJ@
HĺIBSÄQ­HVI­HPQZ­HPSÄQ­HBVSHV´­UNJL­]

FTU(1FTU1H,AJ@FTÐ@FDXI@FGM@HYM( 
HVSW²HVSWBNCJL­HVIZ­HFZBK­H®IBO­°JO²]]]]

FHG:(FGC@DÔ(FUÔ(FTkU3RK@
H®IJ´²H®IBEP¹BHIO²HBWBHIO²HVSVWBUTBM­]

FG@H3LJ@FG@Q@7X@FGA@W@HUM@HYM( 
H®I­UNJL­H®I­S­EIZ­H®IBC­EI­WJO­°JO²]]]]

FØ@HFHQRTS@F,X@FIX@M@FTG2STS@
HBµH­HJSJTVU­HBNZ­HBKBZ­O­HVIBTUVU­]

FkE@RMRRD5X@F@DLS(FT:Y@HKM( 
HBSVº­TBOBTB©TFWZ­HPNBU²HV´B°­MJO²]]]]

Y@QC@Y@sS(Y$U(Y@JQ(YJQ@H3LJ@
°­SBE­°­°WBU²°BJW²°­µLBS²°BµLBS­UNJL­]

r(YU@1:(YSÔ(BYQ×-¸HMÃ@MM@ 
°S²Á°BSW­´²°BUBHIO²DB°BSBDDBOESBOJCI­OBO­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 8 of 35

YHL1t@YLMÔ(BYSR@GwmHO:(
°BSNJ¹¾I­°BNBOBHIO²DB°BUBT­IBTSBSÄQJ´²]

HYU@Y,ÃTHeX@rµ@rTHSmO@rTHSHeX@ 
°JW­°BNCIVQSJZ­°SBEEI­°SVUJSÄQ­°SVUJQSJZ­]]]]

YTHBLS(YL1JQ(YTHµC@YTHµmHO:(
°VDJ¹NBU²°BSNBLBS²°VEEIJE­°VEEIJSÄQJ´²]

HYU@HYUJQ(YTµ@HYU@Q@7X@HYU@H3LJ@ 
°JW­°JWBµLBS²°VEEI­°JW­S­EIZ­°JW­UNJL­]]]]

r(LS(r(LX(r@5X@rTHSrU:F@DBQ@
°S²NBU²°S²NBZ²°S­WZ­°SVUJÁ°SBWB´BHPDBS­]

Y@H-SY@H-SJQ(Y@-S@Y@-S@B@QHeXJQ( 
°­OUJÁ°­OUJLBS²°­OU­°­OU­D­SBQSJZBµLBS²]]]]

Y(KK>X@Y(KUS(r(L@S@YTÃJ@HQ:(
°²MBMBCIZ­°²MBWBU²°S²N­U­°VCIBL­SJ´²]

YTÃU@:(YTµHU
@YTµHB^eO4HIS@ 
°VCIBW­´²°VEEIBWJEZ­°VEEIBDJUUBQSBQÄKJU­]]]]

r(JQ(rTSO@OÔ(YTÃ@<(YTHBU¢Ã@
°S²LBS²°SVUBQ­QBHIO²°VCI­L¹²°VDJWBMMBCI­]

HYUDSQÔ(YAQ(rU:(XFT:@H-US@ 
°JWFUBSBHIO²°BCBS²°SBWB´²ZBHV´­OWJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 9 of 35

Y@Q(HYQ(OTO@Ã@YLHMt@YL@H3LJ@
°­S²°JS²¹BQV¹Q­CI­°BNBOJ¹¾I­°BN­UNJL­]

YL@H-US@YL@Q@7X@HYHSJZ0eO4HIS@ 
°BN­OWJU­°BN­S­EIZ­°JUJLB´¾IBQSBQÄKJU­]]]]

YTHµYTHµJQ(rDt@rTS@M-S@YTÃ@UG@
°VEEIJÁ°VEEIJLBS²°SF¹¾I­°SVU­OBOU­°VCI­WBI­]

RQ2US(BRU1\@RU1HRHµeC@HXM( 
TBSBTWBU²DBTBSWBK¸­TBSWBTJEEIJQSBE­ZJO²]]]]

RQ2US(BR@HU`(R7X@RUD1H/RSeC@
TBSBTWBU²DBT­WJUS²TBOEIZ­TBSWFQTJUBQSBE­]

RU@1HS1Ô(RU1LX(RU1HU
@eC@HXM( 
TBSW­SUJHIO²TBSWBNBZ²TBSWBWJEZ­QSBE­ZJO²]]]]

RUD1sQ(RU1OTZX@RF1H2V3X-SJ@HQ:(
TBSWF°WBS²TBSWBQV´Z­TBSHBTUIJUZBOUBL­SJ´²]

RU@1Q@7X@RU1L@S@RU1CDUHMDHUS@ 
TBSW­S­EIZ­TBSWBN­U­TBSWBEFWBOJ¹FWJU­]]]]

RU$1sX1eC@R3X@RS(R3UFT:@rX@
TBSWBJ°WBSZBQSBE­TBUZ­TBU²TBUWBHV´­°SBZ­]

2UQÖLOC@J@Q@RU1C@DHM4HCM( 
TWBSBLSBNBQBE­L­S­TBSWBEP¹BOJ¹ÄEJO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 10 of 35

RGw@<(RGw@2X@RGwOCRXTS@
TBIBTS­L¹²TBIBTS­TZ­TBIBTSBQBEBTB©ZVU­]

RGwG2S@R@GwFT:@KJ•SHUG@ 
TBIBTSBIBTU­T­IBTSBHV´­MBµL®UBWJHSBI­]]]]

RGwY(@1R¸”O@2UW@2U@G@RTW@LX(
TBIBTSB°²S¹­TBESÄQ­TWBEI­TW­I­TVEI­NBZ²]

EH-VÃDHCM(RD5X@RU1K@DJ$JO4HIS@ 
¹BºHSBOUIJCIFEJO²TFWZ­TBSWBMPLBJLBQÄKJU­]]]]

2ST3X@2STHSLX(R@7X@RHUSHeXJ@HQ:(
TUVUZ­TUVUJNBZ²T­EIZ­TBWJU®QSJZBL­SJ´²]

RYX"#DHCM(R@.XUD
@R.X@RC(sQ( 
TB©°BZBDDIFEJO²T­µLIZBWFEZ­TBµLIZ­TBE²°WBS²]]]]

HRHµC@HRµR,O4)X@RU1HRHµeC@HXM(
TJEEIJE­TJEEIBTBNQÄKZ­TBSWBTJEEIJQSBE­ZJO²]

RU1\@RU1YHÄoRU1R,O3eC@HXM( 
TBSWBK¸­TBSWB°BLUJ°DBTBSWBTBNQBUQSBE­ZJO²]]]]

RU@1YTÃÔ(RTNC@RTN@RHU32UmHO:(
TBSW­°VCIBHIO²TVLIBE­TVLI­TB©WJUTWBSÄQJ´²]

RU1R,Ã(:(RU1IF3R,L@DHGM(SV@ 
TBSWBTBNCI²¹B´²TBSWBKBHBUTBNNPIJO²UBUI­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 11 of 35

RU1HeXJQ(RU1YTÃC@RU1LØÌ@
TBSWBQSJZBµLBS²TBSWB°VCIBE­TBSWBNBµHBÅ­]

RU1L¼LX(RU1S(V1OTZX KeC@ 

TBSWBNBOUSBNBZ²TBSWBU²SUIBQV´ZBQIBMBQSBE­]]]]

RU1OTZXLX(RU15X@HWÔ(RU1J@LC@
TBSWBQV´ZBNBZ²TBSWBWZ­EIJHIO²TBSWBL­NBE­]

RU1HUÔGQ(RU1UH-CS@RU1LØÌ@ 
TBSWBWJHIOBIBS²TBSWBWBOEJU­TBSWBNBµHBÅ­]]]]

RU1L¼JQ(RU1KyL(RU1FT:@H-US@
TBSWBNBOUSBLBS²TBSWBMBL¹N²ÁTBSWBHV´­OWJU­]

RU@1M-CLX(RU1\@MC@R3XM@HXJ@ 
TBSW­OBOEBNBZ²TBSWBK¸­OBE­TBUZBO­ZJL­]]]]

RU1\@MLX(RU1Q@)XC@RU1LHT ÄC@
TBSWBK¸­OBNBZ²TBSWBS­KZBE­TBSWBNVLUJE­]

RTeÃ@RU1C@RU@1RU1K@DJUYJQ( 
TVQSBCI­TBSWBE­TBSW­TBSWBMPLBWB°BµLBS²]]]]

RTÃF@RT-CQ(HRµ@HRµ@,A@HRµL@SJ@
TVCIBH­TVOEBS²TJEEI­TJEEI­NC­TJEEIBN­U®L­]

HRµL@S@HRµHU
@HRµDY(HRµmHO:( 
TJEEIBN­U­TJEEIBWJEZ­TJEEIF°²TJEEIBSÄQJ´²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 12 of 35

RTmHO:(RTNLX(RDUJHeXJ@HQ:(
TVSÄQJ´²TVLIBNBZ²TFWBLBQSJZBL­SJ´²]

2U@HLM(RU1C@RD5X@2V4KR4yL@OQ@H,AJ@ 
TW­NJO²TBSWBE­TFWZ­TUIÄMBTÄL¹N­QBS­NCJL­]]]]

R@QmO@RQ@DmO@R3XÃ4S@RL@rX@
T­SBSÄQ­TBSPSÄQ­TBUZBCIÄU­TBN­°SBZ­]

HRS@HRS@RQ@DI@<(RQ@DI@RMU¢Ã@ 
TJU­TJU­TBSPK­L¹²TBSPK­TBOBWBMMBCI­]]]]

RQ@DkG@Ã@RU@1Ø(RTQD-¸@HCeO4HIS@
TBSPSVI­CI­TBSW­µH²TVSFOES­EJQSBQÄKJU­]

LG@CDU(LGDY@M(LG@R@Q2USeC@ 
NBI­EFW²NBIF°­O²NBI­T­SBTWBUBQSBE­]]]]

LG@RQ2US(LTÄ@LTHÄC@LKM@HYM(
NBI­TBSBTWBU²NVLU­NVLUJE­NBMBO­°JO²]

LGDsQ(LG@M-C@LG@L¼LX(LG( 
NBIF°WBS²NBI­OBOE­NBI­NBOUSBNBZ²NBI²]]]]

LG@KyL(L1G@HU
@L@S@L-CQU@HRM(
NBI­MBL¹N²SNBI­WJEZ­N­U­NBOEBSBW­TJO²]

L¼F,X@L¼L@S@LG@L¼ KeC@ 

NBOUSBHBNZ­NBOUSBN­U­NBI­NBOUSBQIBMBQSBE­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 13 of 35

LG@LTHÄL1G@HM3X@LG@HRHµeC@HXM(
NBI­NVLUJSNBI­OJUZ­NBI­TJEEIJQSBE­ZJO²]

LG@HRµ@LG@L@S@LGC@J@QRXTS@ 
NBI­TJEEI­NBI­N­U­NBIBE­L­SBTB©ZVU­]]]]

LG@LGDsQ(L4HS1L@D1<C@LH:Ã4:@
NBI­NBIF°WBS²NÄSUJSNPL¹BE­NB´JCIĹB´­]

LDMJ@L@HMM(L@-X@L3XTÔ(LDkmHO:( 
NFOBL­N­OJO²N­OZ­N®UZVHIO²NFSVSÄQJ´²]]]]

LHCQ@<(LC@U@R@LNmO@LNDsQ(
NBEJS­L¹²NBE­W­T­NBLIBSÄQ­NBLIF°WBS²]

LG@L@DG@LG@L@X@L@Sˆ:@L4HÓ1RH2VS@ 
NBI­NPI­NBI­N­Z­N­U±´­©NÄSEIOJTB©TUIJU­]]]]

LG@OTZX@LTC@U@R@LG@R,O3eC@HXM(
NBI­QV´Z­NVE­W­T­NBI­TBNQBUQSBE­ZJO²]

LH:O4Q$JHMKX@LWTmO@LG@D3JP@ 
NB´JQÄSBJLBOJMBZ­NBEIVSÄQ­NBIPULB¾­]]]]

LG@R4yL@LG@Y@-S@LG@Y@H-SeC@HXM(
NBI­TÄL¹N­NBI­°­OU­NBI­°­OUJQSBE­ZJO²]

LTHM2STS@L@DGG¼(L@WU(L@WUHeX@ 
NVOJTUVU­NPIBIBOUS²N­EIBW²N­EIBWBQSJZ­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 14 of 35

L@LG@CDUR2ST3X@LHG(F:O4HIS@
N­NBI­EFWBTB©TUVUZ­NBIJ¹²HB´BQÄKJU­]

Lu@ºC@BL@GD-¸(LGD-¸OCC@HXM( 
N®¹¾­OOBE­DBN­IFOES²NBIFOESBQBEBE­ZJO²]]]]

LHSL1HSeC@LDW@L3X1K@DJHMU@HRM(
NBUJSNBUJQSBE­NFEI­NBSUZBMPLBOJW­TJO²]

LT.X@LG@HMU@R@BLG@Ã@&XIM@HrS@ 
NVLIZ­NBI­OJW­T­DBNBI­CI­HZBKBO­°SJU­]]]]

LHGÌ@LHGL@L3XTG@Q(LDW@eC@HXM(
NBIJÅ­NBIJN­N®UZVI­S²NFEI­QSBE­ZJO²]

LD7X@LG@UDFUS(LG@L@D< KeC@ 

NFEIZ­NBI­WFHBWBU²NBI­NPL¹BQIBMBQSBE­]]]]

LG@eÃ@Ã@LGS(LG@CDUHeXJQ(
NBI­QSBCI­CI­NBIBU²NBI­EFWBQSJZBµLBS²]

LG@O@D@LGHµ1oLTÄ@G@QHUÃ4:@ 
NBI­QP¹­NBIBSEEIJ°DBNVLU­I­SBWJCIĹB´­]]]]

L@H:*XÃ4:@L¼@LT.XB-¸@W1YDNQ@
N­´JLZBCIĹB´­NBOUS­NVLIZBDBOES­SEIB°FLIBS­]

LM@DmO@LMYTHµLMYTHµeC@HXM( 
NBOPSÄQ­NBOBÁ°VEEIJÁNBOBÁ°VEEIJQSBE­ZJO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 15 of 35

LG@J@kZXR,O4:@1LM@DMLMUH-CS@
NBI­L­SV´ZBTBNQÄS´­NBOPOBNBOBWBOEJU­]

LG@O@SJI@KÔ(LTHÄC@LTÄÃ4:@ 
NBI­Q­UBLBK­MBHIO²NVLUJE­NVLUBCIĹB´­]]]]

LM@D-LM(LG@2V4K@LG@ÖST KeC@
NBOPONBO²NBI­TUIÄM­NBI­LSBUVQIBMBQSBE­]

LG@OTZX Ke@/X@L@X@H`OTQM@HYM( 

NBI­QV´ZBQIBMBQS­QZ­N­Z­USJQVSBO­°JO²]]]]

LG@MR@LG@LDW@LG@L@DC@LGDsQ(
NBI­OBT­NBI­NFEI­NBI­NPE­NBIF°WBS²]

L@K@WQ(LG@DO@X@LG@S(V1 KeC@ 

N­M­EIBS²NBIPQ­Z­NBI­U²SUIBQIBMBQSBE­]]]]

LG@LØÌR,O4:@1LG@C@HQ›M@HYM(
NBI­NBµHBÅBTBNQÄS´­NBI­E­SJESZBO­°JO²]

LG@LN@LG@LDÇ@LG@J@Ì(LG@HeX@ 
NBI­NBLI­NBI­NFHI­NBI­L­Å²NBI­QSJZ­]]]]

LG@Ã4@LG@CDG@LG@Q@\(LTC@KX@
NBI­CIĹ­NBI­EFI­NBI­S­K¸²NVE­MBZ­]

Ã4HQC@Ã@&XC@Ã@D&X@Ã@D&XC@Ã@DFC@HXM( 
CIÄSJE­CI­HZBE­CIPHZ­CIPHZBE­CIPHBE­ZJO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 16 of 35

ÃU@M(Ã4HSC@Ã4HSÃ4HLÃ41HLRTM@HXJ@
CIBW­O²CIÄUJE­CIÄUJÁCIÄNJSCIÄNJTVO­ZJL­]

Ã4SW@`(ÃXGQ(ÃÄR@Q2USeC@ 
CIÄUBEI­US²CIBZBIBS²CIBLUBT­SBTWBUBQSBE­]]]]

ÃTHÄÃT1HÄeC@ÃDJ(ÃHÄÃ1HÄeC@HXM(
CIVLUJSCIVLUJQSBE­CIFL²CIBLUJSCIBLUJQSBE­ZJO²]

ÃÄR@XT)XC@ÃÄ2UF1C@ÃÄQ@)XC@ 
CIBLUBT­ZVKZBE­CIBLUBTWBSHBE­CIBLUBS­KZBE­]]]]

Ã@F(QV(ÃU@Q@7X@Ã@&X@RÙMO4HIS@
CI­H²SBUI²CIBW­S­EIZ­CI­HZ­TBKKBOBQÄKJU­]

ÃU2ST3X@Ã@MTLS(ÃUR@FQS@Q:( 
CIBWBTUVUZ­CI­OVNBU²CIBWBT­HBSBU­SB´²]]]]

Ã4HSÃ41@BÃ4SDY( @KK@DBMO4HIS@
CIÄUJSCIĹ­DBCIÄUF°²QI­MBMPDBOBQÄKJU­]

Ã4S@Ã5X@ÃHUX@BÃUHU
@ÃU@H3LJ@ 
CIÄU­CIBWZ­CIBWJ¹Z­DBCIBWBWJEZ­CIBW­UNJL­]]]]

A@W@OG@HQ:(A-WTmO@ÃTUMO4HIS@
C­EI­QBI­SJ´²CBOEIVSÄQ­CIVWBOBQÄKJU­]

ÃUÔ(ÃHÄK>X@BÃÄQ<:S3OQ@ 
CIBWBHIO²CIBLUJMBCIZ­DBCIBLUBSBL¹B´BUBUQBS­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 17 of 35

ÃÄ@HS1YLM(Ã@&X@Ã@DFC@MJ•S@D
L@
CIBLU­SUJ°BNBO²CI­HZ­CIPHBE­OBL®UPEZBN­]

ÃTIØÃ4:@Ã(L@Ã(L@<(Ã(LmHO:( 
CIVKBµHBCIĹB´­CI²N­CI²N­L¹²CI²NBSÄQJ´²]]]]

Ã@HUM(@SmO@BÃ@QS(ÃUM@HXJ@
CI­WJO²CIS­U®SÄQ­DBCI­SBU²CIBWBO­ZJL­]

Ã@@Ã@@US(Ã(L@Ã$QU(Ã$QUHeX@ 
CI­¹­CI­¹­WBU²CI²¹N­CIBJSBW²CIBJSBWBQSJZ­]]]]

Ã4HSÃ@1HRSRU@1Ø(Ã4HSC@Ã4HSM@HXJ@
CIÄUJSCI­TJUBTBSW­µH²CIÄUJE­CIÄUJO­ZJL­]

Ã@2US(ÃFL@K@BHÃ<@C@MJ•S@D
L@ 
CI­TWBU²CIBHBN­M­DBCIJL¹­E­OBL®UPEZBN­]]]]

HÃ<TmO@ÃHÄJQ(ÃÄKyL(eC@HXM(
CIJL¹VSÄQ­CIBLUJLBS²CIBLUBMBL¹N²QSBE­ZJO²]

@H-SÔ@@H-SmO@BÃ4HSC@Ã4HSJ@HQ:( 
CIS­OUJHIO­CIS­OUJSÄQ­DBCIÄUJE­CIÄUJL­SJ´²]]]]

HÃ<:(X@HÃ<TL@S@Ã@&XU´¿HuF@DBQ@
CIJL¹B´²Z­CIJL¹VN­U­CI­HZBWBEE®¹¾JHPDBS­]

Ã@DFUS(Ã@DFmO@Ã@DFL@D< KeC@ 

CIPHBWBU²CIPHBSÄQ­CIPHBNPL¹BQIBMBQSBE­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 18 of 35

Ã@DFr@-S@Ã@&XUS(ÃÄ@Ç@$ÇHUM@HYM(
CIPHB°S­OU­CI­HZBWBU²CIBLU­HIBVHIBWJO­°JO²]

g@|(g|2UmO@BAGS(g|U¢Ã@ 
CS­IN²CSBINBTWBSÄQ­DBC®IBU²CSBINBWBMMBCI­]]]]

g|C@g|L@S@Bg|@:(g|C@HXM(
CSBINBE­CSBINBN­U­DBCSBIN­´²CSBINBE­ZJO²]

g|DY(g|R2ST3X@g|UD
@ATWHeX@ 
CSBINF°²CSBINBTB©TUVUZ­CSBINBWFEZ­CVEIBQSJZ­]]]]

A@KD-¯YDNQ@A@K@AHKO4I@JQHeX@
C­MFOEV°FLIBS­C­M­CBMJQÄK­LBSBQSJZ­]

AKC@HA-¯mO@BA@KR4X1RLeÃ@ 
CBMBE­CJOEVSÄQ­DBC­MBTÄSZBTBNBQSBCI­]]]]

g|mO@g|LX(gÓLZEKL7XF@
CSBINBSÄQ­CSBINBNBZ²CSBEIOBNB´ºBMBNBEIZBH­]

g|@:(ATHµC@ATHµAT1HµmO@ATWDsQ( 
CSBIN­´²CVEEIJE­CVEEIJSCVEEIJSÄQ­CVEIF°WBS²]]]]

A-W<XJQ(A@WM@YM(A-WTmHO:(
CBOEIBL¹BZBLBS²C­EIBO­°BO²CBOEIVSÄQJ´²]

HA-b@KX@HA-¯Ã4@HA-¯M@CRLH-US@ 
CJOEW­MBZ­CJOEVCIĹ­CJOEVO­EBTBNBOWJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 19 of 35

A(ImO@A(IL@S@g|ZX@g|J@HQ:(
C²KBSÄQ­C²KBN­U­CSBINB´Z­CSBINBL­SJ´²]

A¤mO@AKUS(g|I@g|B@HQ:( 
CBIVSÄQ­CBMBWBU²CSBINBK­CSBINBD­SJ´²]]]]

g|2ST3X@g|HU
@g|@ZE@HWOU¢Ã@
CSBINBTUVUZ­CSBINBWJEZ­CSBIN­´º­EIJQBWBMMBCI­]

g|DYHU:TmO@Bg|HUZU(YRH2VS@ 
CSBINF°BWJ¹´VSÄQ­DBCSBINBWJ¹´W²°BTB©TUIJU­]]]]

ATHµmO@ATWDY@M(A-W(A-WHUL@DBM(
CVEEIJSÄQ­CVEIF°­O²CBOEI²CBOEIBWJNPDBO²]

<L@K@<Q@J@Q@<Q@<Q KeC@ 

BL¹BN­M­L¹BS­L­S­L¹BS­L¹BSBQIBMBQSBE­]]]]

M-S@M-CRTNC@M-SB-¸HMÃ@MM@
BOBOU­OBOEBTVLIBE­OBOUBDBOESBOJCI­OBO­]

M-SLHGL@Ç@DQ@M-SF,Ã(QRH,LS@ 
BOBOUBNBIJN­HIPS­OBOUBHBNCI²SBTBNNJU­]]]]

}u@}uC@M-S@}uÃ@&X KeC@
BE®¹¾­E®¹¾BE­OBOU­E®¹¾BCI­HZBQIBMBQSBE­]

k-W3X5XX(M@V@MDJR¶«:RXTS@ 
BSVOEIBUZBWZBZ²O­UI­OFLBTBEHV´BTB©ZVU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 20 of 35

MDJÃ4:@}9X@MDJKDNHMDHUS@
BOFLBCIĹB´­E®°Z­OFLBMFLIBOJ¹FWJU­]

M-S@M-SRTNC@Ç@DQ@Ç@DQ2UmHO:( 
BOBOU­OBOUBTVLIBE­HIPS­HIPSBTWBSÄQJ´²]]]]

YDCDUS@mO@LSmO@LSDsQ(
B°F¹BEFWBU­SÄQ­N®UBSÄQ­N®UF°WBS²]

MU
@MDJG2S@MDJL@H:*XÃ4:@ 
BOBWBEZ­OFLBIBTU­OFLBN­´JLZBCIĹB´­]]]]

MDJHUÔRG`(1ÐMDJ@ÃQ:@H-US@
BOFLBWJHIOBTB©IBSUS²IZBOFL­CIBSB´­OWJU­]

HU
@\@MRG`(1ÐHU
@I@KM@HYM( 
BWJEZ­K¸­OBTB©IBSUS²IZBWJEZ­K­MBO­°JO²]]]]

HÃmO@MU
@Ø(ÐeS*X1FHSeC@
BCIJSÄQ­OBWBEZ­µH²IZBQSBUBSLZBHBUJQSBE­]

JÌJ@mHO:(BÐMTGOQ@X:@ 
BLBÅBµL­SÄQJ´²DBIZBOVHSBIBQBS­ZB´­]]]]

,AQ2V@,AQLX@,AQL@K@,ATID<:@
BNCBSBTUI­NCBSBNBZ­NCBSBN­M­NCVKFL¹B´­]

H,AJ@fJQ@f2V@YTL3XYTYS@H-US@ 
BNCJL­CKBLBS­CKBTUI­©°VNBUZB©°V°BU­OWJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 21 of 35

,ATI@MUQ@NZE@,ATI@RMLG@HeX@
BNCVK­OBWBS­LIB´º­NCVK­TBOBNBI­QSJZ­]

IQ@LQRRD5X@IQRDHUSO
TF@ 
BKBS­NBSBTB©TFWZ­KBSBTFWJUBQBEZVH­]]]]

STK@V1eC@V$1*X@3XTC@Q@3UÃX@H-US@
BUVM­SUIBQSBE­SUIBJLZ­UZVE­S­UWBCIBZ­OWJU­]

M@VU3RK@M-SHeX@M-SDH/RSeC@ 
BO­UIBWBUTBM­OBOUBQSJZ­OBOUFQTJUBQSBE­]]]]

,ATI@yX,ATmO@,ATI@S@DaULG@HeX@
BNCVK­L¹ZBNCVSÄQ­NCVK­UPECIBWBNBI­QSJZ­]

NZE@3ULQ2ST3X@LQM@XJO4HIS@ 
BLIB´º­UWBNBSBTUVUZ­NBSBO­ZBLBQÄKJU­]]]]

IDX@3UIRJ@Y@\@MM@HY-XÃ(uC@
BKFZ­UWBKBTBµL­°­K¸­OBO­°JOZBCI²¹¾BE­]

Ä@ÇMDM@B@vDY(ÐKyL(M@HYM(SV@ 
BLU­HIBOFO­D­TUSF°²IZBMBL¹N²O­°JO²UBUI­]]]]

M-SR@Q@M-Sr(QM-SHUHWO4HIS@
BOBOUBT­S­OBOUB°S²SBOBOUBWJEIJQÄKJU­]

Ã(u@L3X1R,O4)X@Ð2S@DCXHUUHI1S@ 
BCI²¹¾­NBSUZBTBNQÄKZ­IZBTUPEBZBWJWBSKJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 22 of 35

@H2SJ2U@-SHMKX@vmO@vUS(SV@
­TUJLBTW­OUBOJMBZ­TUSBSÄQ­TUSBWBU²UBUI­]

2NK3X2NK¸”O@2NKHb
@eC@HXM( 
BTLIBMBUZBTLIBMBESÄQ­TLIBMBEWJEZ­QSBE­ZJO²]]]]

2NKH3RHµC@M-C@,ATI@S@LQM@HXJ@
BTLIBMBUTJEEIJE­OBOE­NCVK­U­NBSBO­ZJL­]

LDX@YDO@OÀ-X<XR@Q2USeC@ 
BNFZ­°F¹BQ­QBHIOZBL¹BZBT­SBTWBUBQSBE­]]]]

IX@IX-S(IXC@I-LJL1HUUHI1S@
KBZ­KBZBOU²KBZBE­KBONBLBSNBWJWBSKJU­]

IFH3eX@IF-L@S@IFC(sQU¢Ã@ 
KBHBUQSJZ­KBHBON­U­KBHBE²°WBSBWBMMBCI­]]]]

I@HSI1X@HIS@HL`@I/X@IOMJ@HQ:(
K­UJSKBZ­KJU­NJUS­KBQZ­KBQBOBL­SJ´²]

I(UM(I(UHMKX@I(U@.X@I(UW@HQ:( 
K²WBO²K²WBOJMBZ­K²W­LIZ­K²WBEI­SJ´²]]]]

I@{U()X@IOUS(I@HSmO@IXeC@
K­IOBW²KZ­KBQBWBU²K­UJSÄQ­KBZBQSBE­]

IM@C1MHeXJQ(I@DM(X@IFH32VS@ 
KBO­SEBOBQSJZBLBS²KP¹BO²Z­KBHBUTUIJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 23 of 35

IF))XDt@IF-L@X@I(UM`@:J@HQ:(
KBHBKKZF¹¾I­KBHBON­Z­K²WBOBUS­´BL­SJ´²]

I(U@STKHSJ@I(UI-L(I-LHMAG1:( 
K²W­UVMBUJL­K²WBKBON²KBONBOJCBSIB´²]]]]

I@EHU7URMJQ(IF
@DHMI1X@H3LJ@
K­ºZBWJEIWB©TBOBLBS²KBHBEZPOJSKBZ­UNJL­]

IFC@M-CIMM(I,A4oIKID<:@ 
KBHBE­OBOEBKBOBO²KBNCÄ°DBKBMBKFL¹B´­]]]]

IX-S(IØO4FÔ(IHMS\@MHUG@
KBZBOU²KBµHBQÄHBHIO²KBOJUBK¸­OBWJHSBI­]

IP@IP@US(I/X@IOJS1HeXJQ( 
KB¾­KB¾­WBU²KBQZ­KBQBLBSU®QSJZBµLBS²]]]]

IOJ•3O@ORG`(1IOJ•3 KC@HXM(
KBQBL®UQ­QBTB©IBSUS²KBQBL®UQIBMBE­ZJO²]

IO@OTORLe.X@IO@J—RTLW@HQ:( 
KBQ­QV¹QBTBNBQSBLIZ­KBQ­LVTVNBEI­SJ´²]]]]

IMM(I-LQHGS@)X@DHSU13XHÃC@HXM(
KBOBO²KBONBSBIJU­KZPUJSW®UZBCIJE­ZJO²]

IP@I4PMB-¸@W@1IF3RHuJQ(SV@ 
KB¾­KľBOBDBOES­SEI­KBHBUT®¹¾JLBS²UBUI­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 24 of 35

IF3`@:JQ(I@E7URJ`(1IXDsQ(
KBHBUUS­´BLBS²K­ºZBEIWB©TBLBSUS²KBZF°WBS²]

IF·(I@IX@U@R@I-LÃ4I1-LM@HYM( 
KBHBEC²K­KBZ­W­T­KBONBCIÄSKBONBO­°JO²]]]]

I-L@-3XQHGS@I$`(IF
@DHMI1O@H3LJ@
KBON­OUZBSBIJU­KBJUS²KBHBEZPOJSKBQ­UNJL­]

IXK<:R,O4:@1IXC@MJ•S@D
L@ 
KBZBMBL¹B´BTBNQÄS´­KBZBE­OBL®UPEZBN­]]]]

I,ÃQ@
@HCR2ST3X@I,Ã@HQ KC@HXM(
KBNCIBS­EZ­EJTB©TUVUZ­KBNCI­SJQIBMBE­ZJO²]

IF3`XHGS@)XDt@IF3`XUYJQ( 
KBHBUUSBZBIJU­KZF¹¾I­KBHBUUSBZBWB°BµLBS²]]]]

IF3`X@,A@IFS()U@K@)U@HKSK@DBM@
KBHBUUSBZ­NC­KBHBU²KW­M­KW­MJUBMPDBO­]

)U@HKM()UKM@Ã@R@)UK-S()UKM@H3LJ@ 
KW­MJO²KWBMBO­CI­T­KWBMBOU²KWBMBO­UNJL­]]]]

HIS@Q@HSRTQ2ST3X@HISÖ@DW@HISDH-¸X@
KJU­S­UJTVSBTUVUZ­KJUBLSPEI­KJUFOESJZ­]

IQ@LQ:Y4-X@BIHM`(I-LM@HYM( 
KBS­NBSB´B°ÄOZ­DBKBOJUS²KBONBO­°JO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 25 of 35

IKI@Ã@IKLX(IKI@RMU¢Ã@
KBMBK­CI­KBMBNBZ²KBMBK­TBOBWBMMBCI­]

IKI2V@IO@Q@7X@IMLØÌJ@HQ:( 
KBMBKBTUI­KBQ­S­EIZ­KBOBNBµHBÅBL­SJ´²]]]]

J@HLM(J@LmO@BJ@,X@J@LeC@HXM(
L­NJO²L­NBSÄQ­DBL­NZ­L­NBQSBE­ZJO²]

JL@$Ì(J@LC@J`(1ÖSTJL1 KeC@ 

LBNBVŲL­NBE­LBSUS²LSBUVLBSNBQIBMBQSBE­]]]]

J•SÔÔ(HÖX@mO@J@X1J@Q:mHO:(
L®UBHIOBHIO²LSJZ­SÄQ­L­SZBL­SB´BSÄQJ´²]

Jš@<(Jk:@mO@JDUK@LQRDHUS@ 
LB¸K­L¹²LBSV´­SÄQ­LFWBM­NBSBTFWJU­]]]]

J+X@:J@HQ:(J@-S@J@H-SC@J@H-SmHO:(
LBMZ­´BL­SJ´²L­OU­L­OUJE­L­OUJSÄQJ´²]

JLK@JLK@U@R@JLK@D3OKL@HKM( 
LBNBM­LBNBM­W­T­LBNBMPUQBMBN­MJO²]]]]

J—LTbS(BJ+X@:(J@H-SJ@LDYU¢Ã@
LVNVEWBU²DBLBMZ­´²L­OUJÁL­NF°BWBMMBCI­]

J@LDsQ(JLHKM(J@LC@J@LAH-WM( 
L­NF°WBS²LBNBMJO²L­NBE­L­NBCBOEIJO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 26 of 35

J@LWDMTJ@®M@<(J@®M@Ã@JÌ@HMHW
L­NBEIFOVÁL­¸DBO­L¹²L­¸DBO­CI­LBÅ­OJEIJÁ]

HÖX@J(HS1JQ(J(HS1ÖSTrDt@J•SDsQ( 
LSJZ­L²SUJLBS²L²SUJÁLSBUV°SF¹¾I­L®UF°WBS²]]]]

ÖSTRU1HÖX@2ST3X@ÖSTJ•H3eXJ@HQ:(
LSBUVTBSWBLSJZ­TUVUZ­LSBUVL®UQSJZBL­SJ´²]

“DYM@YJQ(J`(1JL1C@JL1AH-WM( 
LMF°BO­°BLBS²LBSUS²LBSNBE­LBSNBCBOEIJO²]]]]

JL1A-WGQ(J•u@“LÔ(JšK@DBM@
LBSNBCBOEIBIBS²L®¹¾­LMBNBHIO²LB¸KBMPDBO­]

J-CO1IMM(J@-S@Jk:@Jk:@US( 
LBOEBSQBKBOBO²L­OU­LBSV´­LBSV´­WBU²]]]]

“(ŸJ@HQ:(J•O@J@Q@J•O@HR-WTJ•O@US(
LM²µL­SJ´²L®Q­L­S­L®Q­TJOEIVÁL®Q­WBU²]

Jk:@¸@1J(HS1JQ(J+LÔ(HÖX@JQ( 
LBSV´­SES­L²SUJLBS²LBMNB¹BHIO²LSJZ­LBS²]]]]

HÖX@YHÄJ@LmO@JLK@D3OKFH-WM(
LSJZ­°BLUJÁL­NBSÄQ­LBNBMPUQBMBHBOEIJO²]

JÌ@JÌ@US(JL(1JP2V@JšRH2VS@ 
LBÅ­LBÅ­WBU²LÄSN²LľBTUI­LB¸KBTB©TUIJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 27 of 35

J@HÌJ@J+LÔ(BJLM(XIP@H-US@
L­ÅJL­LBMNB¹BHIO²DBLBNBO²ZBKB¾­OWJU­]

JQO¹@JQ@Ã(ueC@ÖST KeC@ 

LBSBQBEN­LBS­CI²¹¾BQSBE­LSBUVQIBMBQSBE­]]]]

J@$HYJ(J@DYC@J@5X@J`(1J@DYDsQ(J•Y@
LBV°JL²LP°BE­L­WZ­LBSUS²LP°F°WBS²L®°­]

JL1X@M@J+OKS@J@KJPHUM@HYM( 
LÄSNBZ­O­LBMQBMBU­L­MBLľBWJO­°JO²]]]]

J+O@D
@MUS(J+OUM2V@J+OJ@HQ:(
LBMQPEZ­OBWBU²LBMQBWBOBTUI­LBMQBL­SJ´²]

JC,AJ—RTL@Ã@R@JC,AJ—RTLHeX@ 
LBEBNCBLVTVN­CI­T­LBEBNCBLVTVNBQSJZ­]]]]

JC,A@D
@ML7X2V@J(HS1C@J(HS1Ã4:@
LBEBNCPEZ­OBNBEIZBTUI­L²SUJE­L²SUJCIĹB´­]

J—KL@S@J—K@U@R@J—K@B@QHeXJQ( 
LVMBN­U­LVM­W­T­LVM­D­SBQSJZBµLBS²]]]]

J—K@M@V@J@LJÌ@JÌ@M@V@JÌDsQ(
LVM­O­UI­L­NBLBÅ­LBÅ­O­UI­LBÅF°WBS²]

J—-CL-C@QOTO@Ã@JOC1H2VSBH-¸J@ 
LVOEBNBOE­SBQV¹Q­CI­LBQBSEBTUIJUBDBOESJL­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 28 of 35

JHU3UC@J@5XL@S@JHUL@S@JÌ@eC@
LBWJUWBE­L­WZBN­U­LBWJN­U­LBÅ­QSBE­]

Sk:(Sk:(S@S@S@Q@HWORL@MM@ 
UBSV´²UBSV´²U­U­U­S­EIJQBTBN­OBO­]]]]

SHÏ2SHÏeC@S*X@1SOM(S@HOM(SV@
U®QUJTU®QUJQSBE­UBSLZ­UBQBO²U­QJO²UBUI­]

SO1:(S(V1mO@BH`CY@H`CYDsQ( 
UBSQB´²U²SUIBSÄQ­DBUSJEB°­USJEB°F°WBS²]]]]

H`HCUDY(H`IMM(H`L@S@²X,AJDsQ(
USJEJWF°²USJKBOBO²USJN­U­USZBNCBLF°WBS²]

H`OTQ@H`OTQDY@M(²X,AJ@H`OTQ@H,AJ@ 
USJQVS­USJQVSF°­O²USZBNCBL­USJQVS­NCJL­]]]]

H`OTQr(vX(mO@`X(UD
@`X(sQ(
USJQVSB°S²TUSBZ²SÄQ­USBZ²WFEZ­USBZ²°WBS²]

`8X-SUDHCM(S@l@S@OH`SXG@HQ:( 
USBZZBOUBWFEJO²U­NS­U­QBUSJUBZBI­SJ´²]]]]

SL@KR}Y(`@S@Sk:@HC3XRHºÃ@
UBN­MBTBE®°²US­U­UBSV´­EJUZBTBOOJCI­]

`$K@D*X5X@HOM(SÏ@SHÏJ•^3UmHO:( 
USBJMPLZBWZ­QJO²U®QU­U®QUJL®UUBUWBSÄQJ´²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 29 of 35

STX@1`$K@D*XR2ST3X@H`FT:@H`FT:DsQ(
UVSZ­USBJMPLZBTB©TUVUZ­USJHV´­USJHV´F°WBS²]

H`OTQÔ(H`L@S@B²X,AJ@H`FT:@H-US@ 
USJQVSBHIO²USJN­U­DBUSZBNCBL­USJHV´­OWJU­]]]]

S:@"#DCJQ(SÏ@S(y:@S(y:2UmHO:(
U®¹´­DDIFEBLBS²U®QU­U²L¹´­U²L¹´BTWBSÄQJ´²]

STK@STK@HCQHGS@S^Cg|2UmHO:( 
UVM­UVM­EJSBIJU­UBUUBECSBINBTWBSÄQJ´²]]]]

`@:J`(1H`O@OÔ(H`OC@H`CY@H-US@
US­´BLBSUS²USJQ­QBHIO²USJQBE­USJEB°­OWJU­]

S6X@H`YHÄHvOC@STX@1`$K@D*XRT-CQ( 
UBUIZ­USJ°BLUJTUSJQBE­UVSZ­USBJMPLZBTVOEBS²]]]]

SDI2JQ(H`L43X@1
@SDI@DmO@H`W@LS@
UFKBTLBS²USJNÄSUZ­EZ­UFKPSÄQ­USJEI­NBU­]

H`BÖJ`(1H`ÃF@STX@1S(S KeC@ 

USJDBLSBLBSUS²USJCIBH­UVSZ­U²UBQIBMBQSBE­]]]]

SDIH2UM(S@OG@Q(S@O@DO/KUM@HYM(
UFKBTWJO²U­QBI­S²U­QPQBQMBWBO­°JO²]

SDI@DFÃ@1SOR@Q@H`OTQ@HQHeXJQ( 
UFKPHBSCI­UBQBÁT­S­USJQVS­SJQSJZBµLBS²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 30 of 35

S-U(S@ORRSTu@SOM@ØIÃ(HSMTSÆ
UBOW²U­QBTBTBOUV¹¾­UBQBO­µHBKBCI²UJOVU]

H`K@DBM@H`L@F@1BSS(X@H`CY2STS@ 
USJMPDBO­USJN­SH­DBU®U²Z­USJEB°BTUVU­]]]]

H`RT-CQ(H`OVF@STQ(XOCC@HXM(
USJTVOEBS²USJQBUIBH­UVS²ZBQBEBE­ZJO²]

YTÃ@YTÃ@US(Y@-S@Y@H-SC@YTÃC@HXM( 
°VCI­°VCI­WBU²°­OU­°­OUJE­°VCIBE­ZJO²]]]]

Y(SÌ@Y4HKM(Y(S@r(LS(BYTÃ@H-US@
°²UBÅ­°ÄMJO²°²U­°S²NBU²DB°VCI­OWJU­]

X@DFHRHµeC@X@D&X@X\DMOHQO4HQS@ 
ZPHBTJEEIJQSBE­ZPHZ­ZBK¸FOBQBSJQÄSJU­]]]]

X)X@X\LX(X<(XH<:(XH<U¢Ã@
ZBKZ­ZBK¸BNBZ²ZBL¹²ZBL¹J´²ZBL¹JWBMMBCI­]

X\HeX@X\O4)X@X\STu@XL2STS@ 
ZBK¸BQSJZ­ZBK¸BQÄKZ­ZBK¸BUV¹¾­ZBNBTUVU­]]]]

X@HLM(XeÃ@X@,X@XIM(X@XY2JQ(
Z­NJO²ZBQSBCI­Z­NZ­ZBKBO²Z­ZB°BTLBS²]

X\J`(1X\mO@XY@DC@X\R2STS@ 
ZBK¸BLBSUS²ZBK¸BSÄQ­ZB°PE­ZBK¸BTB©TUVU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 31 of 35

X\DY(X\ KC@X@DFX@DHMX1IT2STS@
ZBK¸F°²ZBK¸BQIBMBE­ZPHBZPOJSZBKVTUVU­]

XHLRD5X@XL@Q@7X@XHLO4)X@XL(sQ( 
ZBNJTFWZ­ZBN­S­EIZ­ZBNJQÄKZ­ZBN²°WBS²]]]]

X@DHFM(X@DFmO@BX@DFJS1HeXJQ(
ZPHJO²ZPHBSÄQ­DBZPHBLBSU®QSJZBµLBS²]

X@DFXTÄ@X@DFLX(X@DFX@DF(sQ@H,AJ@ 
ZPHBZVLU­ZPHBNBZ²ZPHBZPH²°WBS­NCJL­]]]]

X@DF\@MLX(X@DHMX1L@
u@ØX@DFS@
ZPHBK¸­OBNBZ²ZPOJSZBN­EZB¹¾­µHBZPHBU­]

XH¼S@Ç@$ÇRG@Q@XLK@DJHMU@HQ:( 
ZBOUSJU­HIBVHIBTB©I­S­ZBNBMPLBOJW­SJ´²]]]]

XHu5Xu(YR2ST3X@XL@
u@ØX@DFXTJ
ZB¹¾JWZB¹¾²°BTB©TUVUZ­ZBN­EZB¹¾­µHBZPHBZVL]

X@DF(sQ(X@DFL@S@X@DFHRµ@BX@DFC@ 
ZPH²°WBS²ZPHBN­U­ZPHBTJEEI­DBZPHBE­]]]]

X@DF@m%@X@DFLX(X@DFmO@XU(XR(
ZPH­SĺI­ZPHBNBZ²ZPHBSÄQ­ZBW²ZBT²]

X¼mO@BX¼2V@X¼O4)X@BXH¼S@ 
ZBOUSBSÄQ­DBZBOUSBTUI­ZBOUSBQÄKZ­DBZBOUSJU­]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 32 of 35

XTFJ`(1XTFLX(XTFWL1HUUHI1S@
ZVHBLBSUS²ZVHBNBZ²ZVHBEIBSNBWJWBSKJU­]

XLTM@XHLM(X@,X@XLTM@IKL7XF@ 
ZBNVO­ZBNJO²Z­NZ­ZBNVO­KBMBNBEIZBH­]]]]

X@S@X@SeYLM(X@SM@M@HºJ•-SM(
Z­U­Z­UBQSB°BNBO²Z­UBO­O­OOJL®OUBO²]

X@DF@U@R@X@DHFU-
@X^"#!C2UmHO:( 
ZPH­W­T­ZPHJWBOEZ­ZBUUBDDIBCEBTWBSÄQJ´²]]]]

X@DF<DLLX(X¼@X@UC<QL@SJ@
ZPHBL¹FNBNBZ²ZBOUS­Z­WBEBL¹BSBN­U®L­]

X@U3OCLX(X@U"#!CmO@XVDsQ( 
Z­WBUQBEBNBZ²Z­WBDDIBCEBSÄQ­ZBUIF°WBS²]]]]

X^C(X@X<U-
@XHb
@XHSR2STS@
ZBUUBE²Z­ZBL¹BWBOEZ­ZBEWJEZ­ZBUJTB©TUVU­]

X@UHb
@LX(X@UHb
@A-CRTUH-CS@ 
Z­WBEWJEZ­NBZ²Z­WBEWJEZ­C®OEBTVWBOEJU­]]]]

X@DHFz3O¹HMKX@X@DHFUX1HeXJQ(
ZPHJI®UQBENBOJMBZ­ZPHJWBSZBQSJZBµLBS²]

X@DHFU-
@X@DHFL@S@X@DF(Y KC@HXM( 
ZPHJWBOEZ­ZPHJN­U­ZPH²°BQIBMBE­ZJO²]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 33 of 35

X<U-
@X<O4)X@X<Q@IRTO4HIS@
ZBL¹BWBOEZ­ZBL¹BQÄKZ­ZBL¹BS­KBTVQÄKJU­]

X\mO@X\STu@X@XI4J2UmHO:( 
ZBK¸BSÄQ­ZBK¸BUV¹¾­Z­ZBKÄLBTWBSÄQJ´²]]]]

X¼@Q@7X@X¼L7X@X¼JS1HeXJQ(
ZBOUS­S­EIZ­ZBOUSBNBEIZ­ZBOUSBLBSU®QSJZBµLBS²]

X¼@m%@X¼O4)X@X@DHF7X@MOQ@X:@ 
ZBOUS­SĺI­ZBOUSBQÄKZ­ZPHJEIZ­OBQBS­ZB´­]]]]

XIM(X@XL2ST3X@X@DFXTÄ@XY2JQ(
ZBKBO²Z­ZBNBTUVUZ­ZPHBZVLU­ZB°BTLBS²]

X@DFAµ@XHS2ST3X@X@DF\@X@DFM@XJ( 
ZPHBCBEEI­ZBUJTUVUZ­ZPHBK¸­ZPHBO­ZBL²]]]]

X@DHF\@MeC@X<(XLA@W@HUM@HYM(
ZPHJK¸­OBQSBE­ZBL¹²ZBNBC­EI­WJO­°JO²]

X@DHFJ@,XeC@`(BX@DHFL@D<eC@HXM( 
ZPHJL­NZBQSBE­US²DBZPHJNPL¹BQSBE­ZJO²]]]]

×××
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 34 of 35

ÅHSM@j@RQ2U3X@RGwRLTC(HQSLÆ
JUJO­NO­©TBSBTWBUZ­ÁTBIBTSB©TBNVE²SJUBN]

L¼@3LJLG@F@D/XLG@R@Q2USeCLÆ 
NBOUS­UNBLB©NBI­HPQZB©NBI­T­SBTWBUBQSBEBN]]]]

XO0D"#:TX@a…X@H`J@KR@WJOTL@MÆ
ZBÁQB¾IFDDI®´VZ­ECIBLUZ­USJL­MB©T­EIBLBÁQVN­O]

RU1HU
@HMHWR@<@SÆRUÃUHSŠTULÆ 
TBSWBWJEZ­OJEIJÁT­L¹­UTBFWBCIBWBUJEISVWBN]]]]

KÃSDROCRU@1OT`O@$`@HCRXTS@
MBCIBUFTBNQBEBÁTBSW­ÁQVUSBQBVUS­EJTB©ZVU­Á]

L4J@DHORU1HU
@RTBSTLT1NÅU@OQ 
NÄLPQJTBSWBWJEZ­TVDBUVSNVLIBJW­QBSBÁ]]]]

Ã43U@e@„@DHSR@Hº7X -SDW@STLT1M(sQ
CIÄUW­QS­QOPUJT­OOJEIZBNBOUFEI­UVSNVO²°WBSB]

RU1L¼LXRU1HU
@L@M KeCLÆ 
TBSWBNBOUSBNBZB©TBSWBWJEZ­N­OBQIBMBQSBEBN]]]]

LG@JHU3UCOTR@LG@HRHµeC@XJLÆ
NBI­LBWJUWBEB©QV©T­©NBI­TJEEIJQSBE­ZBLBN]

J2L$HBºeC@S5Xe@:$JZ0FS$QHO 
LBTNBJDJOOBQSBE­UBWZB©QS­´BJÁLB´¾IBHBUBJSBQJ]]]]
”S².BI­TBSBTWBU²4BIBTSBO­NB4UPUSBNPage 35 of 35

LG@QG2XRSSU@:(M@LRGwJLÆ
NBI­SBIBTZB©TBUBUB©W­´²O­NBTBIBTSBLBN]

RTHRµL2LC@C(M@2S@D`SDRLTC(HQSLÆ 
TVTJEEIBNBTNBE­E²O­©TUPUSB©UFTBNVE²SJUBN]]]]

ÅHSr(2J@-COTQ@:@-SF1S
]]JUJ°S²TL­OEBQVS­´­OUBSHBUB

RM3J—L@QRHGS@X@M@QCRM3J—L@QRU@CD
TBOBULVN­SBTB©IJU­Z­©O­SBEBTBOBULVN­SBTB©W­EF

RQ2US(RGwM@L2S@D`LÆR,O4:1LÆ
TBSBTWBU²TBIBTSBO­NBTUPUSBNTBNQÄS´BN]]