!

Ottomans – Crimea – Jochids

Studies in Honour of Mária Ivanics

Edited by István Zimonyi

!
!
!
!
!
!

!
!

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

f[GR<="mD[[":C"s<RA<;="@E"H„"#"J<E;DAB"y=;GEUD[z""
;><"s>:Z=":C";><"-/?6@56A="

j#6#%#@&Oq:,&

*+#&w445F36&,F.#:,31&1,4#:3:9&.3:3%,$F&3-&,4&23F#&45&0#&#-4301,-+#%&,6&4+#&-#256%&
+318& 58& 4+#& Lh!"& 2#64/:9& 73-& 3& %#:,D#%& 1,4#:3:9& -9-4#FM& 56#& 58& 4+#& 0:362+#-& 58& 4+#&
O#:-,3634#& 1,4#:3:9& 4:3%,4,56J& w445F36& 1,44#:34#/:-& 851157#%& 4+#& #K3F.1#-& 58& O#:-,36&
3/4+5:-& 7+5F& 4+#9& 256-,%#:#%& 4+#,:& %,:#24& .:#%#2#--5:-J& Š6& 4+#,:& 75:@-& 4+#9&
#6%#3D5/:#%&45&25F.19&7,4+&4+#&7:,44#6&36%&/67:,44#6&:/1#-&58&3&2564,6/5/-&1,4#:3:9&
4:3%,4,56&4+34&-43:4#%&45&%#D#15.&-5F#4,F#&,6&4+#&134#&L)!"&2#64/:9M&/6%#:&4+#&:/1#&58&
4+#&!3F36,%-&36%&4+#&B+3"63D,%-J&*+,-&O#:-,36&4:3%,4,56&:#32+#%&3&4/:6,6$&.5,64&34&
4+#&4/:6&58&4+#&Lh!"'L{!"&2#64/:,#-M&34&4+#&4,F#&7+#6&4+#&w445F36&-9-4#F&73-&-4,11&,6&
4+#& .+3-#& 58& %#D#15.F#64J& <& 6#7& 1,4#:3:9& 4:#6%& #F#:$#%& 36%& -15719& -43:4#%&
%5F,634,6$&4+#&1,4#:3:9&-2#6#J&*+#&6#7&-491#&584#6&4#:F#%&=0B"0C4%(2#ÛI&5:&2#ÛIH4
DI9>&´,62,%#6431,-4&-491#€&+3%&36&#-.#2,3119&$:#34&,F.324&56&$3"#1M&3&F3r5:&0:362+&58&
O#:-,3634#&.5#4,231&.:5%/24,56J&
B3"#1& 3-& 3& .5#4,2& 85:F& %#D#15.#%& ,6& 4+#& O#:-,36& 4:3%,4,56& 36%& ,4& +3-& D#:9& -4:,24&
85:F31&256D#64,56-J#&*+#&4#2+6,231&$3"#1&256-,-4-&58&8,D#&45&#1#D#6&25/.1#4-&ƒC&9"-„M&
+3-&3&-.#2,31&:+9F#&-2+#F#&ƒ33M&03M&23M&#42J„&36%&4+#&:+9F#&,-&584#6&851157#%&09&3&
:#8:3,6G1,@#& #1#F#64M& 4+#& ,&$>-M& 4+34& 236& 0#& 3& -/88,KM& 3& 75:%& 5:& 3& 7+51#& .+:3-#J& <6&
,F.5:4364&8#34/:#&58&4+#&4#2+6,231&$3"#1&,-&4+34&4+#&215-,6$&25/.1#4&ƒ=0Û"0H„&25643,6-&
4+#&65F&%#&.1/F#&58&4+#&3/4+5:J&*+5/$+&%/:,6$&,4-&+,-45:9&4+#&4#2+6,231&$3"#1&73-&
3..1,#%& 85:& D3:,5/-& 3,F-& 36%& 45.,2-& 36%& 4+#:#& 3:#& %,%324,231M& .36#$9:,231M& :#1,$,5/-&
$3"#1-&3-&7#11M&4+#&F5-4&584#6&522/::,6$&-/0r#24&58&4+,-&49.#&58&.5#F-&,-&15D#M&F5:#&
-.#2,8,23119&/6:#Ð/,4#%&15D#J&&
*:3%,4,563119M& <¿JÛ<)&& ƒ3F5:5/-„& $3"#1-& 3:#& -63.-+54-& 43@#6& 58& 3& 15D#& 3883,:& ,6&
7+,2+& 4+#& .5#4& .139-& 4+#& :51#& 58& 4+#& 15D#:J& >5D#:& ƒ<¿JÛ„& 36%& 0#15D#%& ƒ=0H¿IÛ„& 3:#&
-#.3:34#%&054+&.+9-,23119&36%&#F54,563119J&*+#&.5#4&15D#:&9#3:6-&85:&F##4,6$&ƒ20ËQ„&
+,-& 0#15D#%& 36%& 25F.13,6-& 305/4& 0#,6$& -#.3:34#%& ƒf%3,„J& *+#& 0#15D#%M& 7+5& ,-&
4:3%,4,563119& %#.,24#%& 3-& 36& 3%51#-2#64& F31#M& /-/3119& .139-& 3& .3--,D#& :51#& ,6& 4+#&
.5#FE&+#&,$65:#-&4+#&8##1,6$-&58&4+#&15D#:M&7+,2+&45:F#64-&4+#&.5#4J&B3"#1-&%#-2:,0#&
4+#&-/88#:,6$-&58&4+#&.5#4&36%&.:3,-#&4+#&0#3/49&58&4+#&0#15D#%&,6&#K3$$#:34,6$&4#:F-J&

!
1!! U&+!/,!&=*+=-*@!&#!()*!7*=*;&FB*,(!&#!</G*;!/5!/!F&*(-2!#&+B!5**!7*!P'+-i,?!v$!0$!p$?!0)*!r/G*;!
-,! M*7-*=/;! p*+5-/,! p&*(+A$! R,3! 4/+5)/(*+?! f)5/,?! n/,F1%0) j?,12) n6/(,?) 10) (7/) g<%FF12%<) u,%R)
ƒhh^Z[hh”)•%I/<FR)n%0/>?,12F)%0$)¢"%(,1%0Fa!O&,7&,!WXYn?!qY[\soZ$!
(h…& !

*+#& ,F3$#:9& /-#%& 45& %#.,24& 4+#& 15D#:€-& -434#& 58& F,6%& 36%& 4+#& 0#15D#%€-& .+9-,231&
2+3:324#:,-4,2-&3:#&256D#64,5631&36%&8311&83:&8:5F&:#31,49J&
*+,-&,-&#-.#2,3119&4:/#&85:&4+#&$3"#1&.5#4:9&58&4+#&*,F/:,%&.#:,5%&4+34&73-&•455&
584#6& F3::#%& 09& 36& #K2#--,D#& /-#& 58& :+#45:,2“& 7+,2+& 1#%& 45& •3:4,8,2,316#--M& 36%&
256D#64,5631,49M& 25F0,6#%& 7,4+& 36& #D#:& ,62:#3-,6$& %#846#--& 58& 2:384-F36-+,.& 36%&
0:,11,362#& 58& 3:4,-4:9“J$&<-& 4+#& 852/-& 58& $3"#1& .5#4:9& -+,84#%& 4573:%-& 3& F3-4#:9& 58&
:+#45:,231& 6,2#4,#-M& 4+#& 2566#24,56& 58& 3& .5#F& 45& 4+#& 4:3%,4,56& 5D#:-+3%57#%& ,4-&
:#134,56-+,.&45&:#31,49J&
*+5/$+&2564#F.5:3:9&634,D#&1,4#:3:9&2:,4,2-&-4:#--&4+34&.3--,56&ƒ'IF(#(D#$<F&1,4J&
´0/:6,6$&36%&F#14,6$€„&,-&36&#--#64,31&,6$:#%,#64&58&3&$55%&19:,2&.,#2#M%&25F.5-,6$&3&
4:3%,4,5631&-491#&<¿JÛ<)&&$3"#1&236&0#&3&-,F.1#&4#2+6,231&3883,:J&<&-@,11#%&36%&431#64#%&
.5#4&%5#-6€4&6#2#--3:,19&+3D#&45&0#&,6&15D#&34&311&0#23/-#&+#&+3-&#D#:94+,6$&+#&6##%-&
,6& 4+#& .5#4,2& 455105K& .:5D,%#%& 09& 4+#& 4:3%,4,56& 58& 213--,231& .5#4:9E& F#4:,231& :/1#-M&
:+#45:,2&256D#64,56-&36%&3&:,2+&-#4&58&,F3$#-&45&2+55-#&8:5FJ&Š4&,-&.5--,01#&45&7:,4#&3&
$55%&.5#F&,6&4+#&4#2+6,231&-#6-#&-,F.19&09&25F0,6,6$&4+#-#&#1#F#64-&,6&3&2:#34,D#&
739J&
*+,-& -##F,6$19& :52@& -51,%& -9-4#F& 58& O#:-,36& $3"#1& .5#4:9& 73-& .:585/6%19&
2+36$#%& 09& 4+#& 3%D#64& 58& 4+#& =0B"0C4%( 2#ÛIHM& 4+#& ,62,%#6431,-4& -491#J& I+,1#& 4+#&
4:3%,4,5631& -9-4#F& 73-& 1,D,6$& 56#& 58& ,4-& ,F.5:4364& .+3-#-& +311F3:@#%& 09& 4+#& .5#4,2&
324,D,49&58&4+#&13-4&$:#34&213--,231&.5#4M&}<0%&31GA37F36&vzF•&ƒ*/:@J&CzF•¿&%J&Ltu(„M&
4+#&8,:-4&-,$6-&58&4+#&5625F,6$&2+36$#-&,6&1,4#:3:9&43-4#&31:#3%9&3..#3:#%&,6&4+#&134#&
Lh!"& 2#64/:9J& C564#F.5:3:9& 1,4#:3:9& 2:,4,2-& 256-,%#:& jz0z& •,‘z6•& ƒ%J& LhLu„ ' &4+#&
4:#6%-#44#:&58&4+,-&.5#4,2&-491#&4+34&•F3%#&3&256-2,5/-&F5D#&,6&4+#&%,:#24,56&58&3&@,6%&
58&,665D34,56&ƒ5:&34&1#3-4&2+36$#„&36%&58&0#25F,6$&45&3&2#:43,6&#K4#64&-,F.1#“J(&
<F5:5/-&$3"#1-&7:,44#6&,6&4+#&,62,%#6431,-4&-491#&215-#&4+#&$3.&0#47##6&4+#&.5#4,2&
75:1%& 36%& :#31,49J& *+#& 0#15D#%& ,-& 584#6& 3& :#31& +/F36& 0#,6$& 36%& 4+#& •15D#& 3883,:“&
0#47##6&4+#&.5#4&15D#:&36%&+,-&0#15D#%&,-&03-#%&56&:#31,49J&>5D#&3883,:-&3:#&%#.,24#%&
,6& 3& :#31,-4,2& 739M& ,6& -,F.1#& #D#:9%39& 136$/3$#& /-,6$& 5619& 3& 1,F,4#%& 6/F0#:& 58&
:+#45:,2& %#D,2#-J)&!+38•}•& P3%@z6•& -/FF3:,"#%& 4+#& •F36,8#-45“& 58& 4+#& .5#4-& 58& 4+#&

!
2!! r-..?!f;-/5!v&),!^-;1-,5&,?!4)y1F(6,?)6e)K((65%0)n6/(,??!=&;$!W!O&,7&,!YnXW$?!YY?!Yq$!U&+!/!
7*(/-;*7!7*52+-F(-&,!&#!0-B'+-7!</G*;!F&*(+A!5**!%'.(*;,A?!M/+-/!f=/?!:!0/5(*!#&+!()*!R,(+-2/(*3!
0)*! p*+5-/,! p&*(+A! &#! ()*! O/(*! 0-B'+-7! p*+-&7$! d/1(F27,1e() $/,) m/"(F27/0) f6,>/0<-0$1F27/0)
•/F/<<F27%e(!Yq]?!,&!Y!IYno]J?![]\Zn$!
3!! U&+!()*!(*+B!FÇI)")>B$;I!-,!Q((&B/,!p&*(+A!5**!:B.+&5?!f7-()!rV;Œ-,?!fB&(-=-(A!/5!/!%(A;-5(-2!
M/+1*+! -,! Q((&B/,! OA+-2! p&*(+A! &#! ()*! Y[*+! /,7! Y]*+! "*,('+-*5$! R,3! ")+-5(-/,*! "GA</,! /,7!
%(*F)/,! "&,,*+B/,,! I*75$J! 40) k,1$/F2/0() m/A12/”) n,/56$/,0) K((65%0) n6/(,?a! r~((-,<*,!
WXYo?!qq\so$!
4!! Q,! U-<)/,-! /,7! )-5! F&*(+A! 5**! O&5*,51A?! p/';?! c/<26510>) „1>7;0 a) k51(%(160) %0$) n6/(12)
k0$1A1$"%<1(?)10)(7/)3%e%A1$Mf">7%<)•%I/<$!"&5(/!M*5/!Ynno$!
5!! E/71/,•?!%)/#•Ž•?!p*+5-/,!O-(*+/('+*!IP*;;*5!O*((+*5J!#+&B!()*!0-B*!&#!v•B•!(&!()*!p+*5*,(!D/A$!
R,3!M&++-5&,?!r!I*7$J!y1F(6,?)6e)n/,F1%0)j1(/,%(",/)e,65)(7/)./>10010>)6e)(7/)kF<%512)n/,16$)(6)
(7/)n,/F/0()m%?$!O*-7*,!YnoY?!Ys]$!
6!! •/B•5•?! %•+‘5$! 3%?,M1) Q%I%<) $%,) N1¡,M1) „;,F $! 0*)+•,! YqZXhYnnY?! Y]X9! O&5*,51A?! c/<26510>)
„1>7;0 ?!oW$!

!
 ! (hu&

=0B"0C4%(2#ÛIH&,6&4+#&851157,6$&739E&•I#&F/-4&562#&F5:#&%:37&.5#4:9&215-#&45&4+#&
#K.#:,#62#-& 58& %3,19& 1,8#& 36%& 4/:6& 5/:& 832#-& 3739& 8:5F& ´/6,D#:-31& 15D#€M& ´/6,D#:-31&
0#15D#%€&36%&#D#:94+,6$&4+34&,-&30-51/4#“J*&
w445F36&$3"#1&.5#4:9&,6&4+#&#3:19&L{!"&2#64/:9&:#F3,6#%&-##F,6$19&/645/2+#%&09&
4+#& 6#7& 4:#6%& ,6& Š:36J& *+#& 75:@-& 58& O#:-,36& .5#4-& 8:5F& 4+#& 213--,231& .#:,5%&
2564,6/#%&45&-#:D#&3-&•588,2,31“&:#8#:#62#&.5,64-&85:&1,4#:3:9&2:,4,2-&36%&3/4+5:-&31,@#J&
C5F.,1#:-&58&1,4#:3:9&364+515$,#-&ƒ"&jB%,&-„M&4+#&F3,6&85:/F&85:&1,4#:3:9&2:,4,2,-F&,6&
4+,-& .#:,5%M& +51%& /.& 4+#& .5#4:9& 58& O#:-,36& 213--,2-& 3-& #K3F.1#-& 4+34& -+5/1%& 0#&
851157#%J&<6%&3-&4+#,:&.5#F-&-+57M&w445F36&.5#4-&3:#&,6&3&2564,6/5/-&25F.#4,4,56&
7,4+&<F•:&:/-:3/&ƒ%J&Ln(h„M&ˆz8,>&ƒ%J&Lnut„M&P3Fz1G,&:/r36%•&ƒ%J&Lt))„&36%&vzF•M&
7+5F& 4+#9& 155@& /.56& 3-& 4+#,:& .:#%#2#--5:-M& 3-& 83:& 3-& .5#4,2& #K2#11#62#& ,-&
2562#:6#%J+&
<&8#7&#64:,#-&36%&-2344#:#%&:#F3:@-&,6&"&jB%,&-M&+57#D#:M&-/$$#-4&4+34&w445F36&
.5#4-&7#:#&7#11&373:#&58&4+#&2+36$#-&,6&4+#&1,4#:3:9&43-4#&,6&Š:36&36%&4+#&=0B"0C4%(
2#ÛIH&-43:4#%&F3@,6$&,4-&,681/#62#&8#14&56&4+#&w445F36&1,4#:3:9&-2#6#J&
<-&,4&+3-&0##6&F#64,56#%&#3:1,#:M&56#&58&4+#&8#34/:#-&58&4+#&=0B"0C4%(2#BIH&4#K4-&
73-&4+#&/-#&58&-,F.1#M&#D#:9%39&136$/3$#J&Š4&,-&.5--,01#&4+34&4+#&/-#&58&.:5D#:0-&36%&
-39,6$-& ,6& w445F36& $3"#1-M& 3& .:324,2#& 4+34& -43:4#%& ,6& F3,6-4:#3F& w445F36& $3"#1&
.5#4:9&3:5/6%&4+#&4/:6&58&4+#&Lh!"'L{!"&2#64/:9M&236&0#&344:,0/4#%&45&4+#&,681/#62#&58&
4+#&,62,%#6431,-4&-491#J,&
Š4&F/-4&654&0#&85:$544#6&4+34&4+#&2/14/:31&:#134,56-&0#47##6&4+#&w445F36&=F.,:#&
36%& Š:36M& ,6& -.,4#& 58& 4+#& .51,4,231& 25681,24-& 7#:#& 6#D#:& %,-:/.4#%J& ;5:#5D#:M& F369&
Š:36,36-M& .5#4-& 3F56$& 4+#FM& F,$:34#%& 45& w445F36& 136%-J& !5F#& 58& 4+#-#& .5#4-& 1,@#&
ˆzF,%•&ŠŸ83+z6•&ƒ81J&Lh!"&2J„&3:#&256-,%#:#%&.:#2/:-5:-&58&4+#&=0B"0C4%(2#ÛIHJ#-&Š4&,-&
31-5& .5--,01#& 4+34& 4+#& ,6-.,:34,56& 85:& 3& -491#& 58& $3"#1& 2311#%& 4+#& ?r,B>4%( C0'>Ä&
F5D#F#64& ,6& */:@,-+& 1,4#:3:9& +,-45:9M& 3& -+5:4& 1,D#%& 1,4#:3:9& .:5r#24& 4:9,6$& 45& /-#&
-,F.1#& */:@,-+& 136$/3$#& 7,4+& F369& */:@,-+& 75:%-& ,6-4#3%& 58& O#:-,36& 36%& <:30,2&
1#K,231&,4#F-M&73-&31-5&,6-.,:#%&09&4+#&-,F.1#&136$/3$#&58&2#ÛIH4DI9>J##&
C564#F.5:3:9& -5/:2#-& 25643,6& -3F.1#-& 58& w445F36& .5#F-& 4+34& 3..#3:& 45& -+57&
4+#&2+3:324#:,-4,2-&58&4+#&,62,%#6431,-4&-491#J&;5-4&58&4+#-#&7#:#&,6-.,:#%&09&#D#:9%39&
,62,%#64-M& 1,@#& $5,6$& 45& 3& 03:0#:& 5:& 45& 3& ./01,2& 034+& 36%& 4+#9& 3:#& 584#6& .:3,-,6$&

!
! 7!!E/71/,•?!p*+5-/,!O-(*+/('+*?!YsZ$!
! 8!!U&+!/!7*(/-;*7!7*52+-F(-&,!)&@!Q((&B/,!F&*(5!-,!()*!Y]*+!2*,('+A!=-*@*7!p*+5-/,!</G*;!F&*(+A!
5**! pƒ+-! P*,*7*1?! 6Q! M')-..-’! 4&'8=*! O-(! 4&'+! O/BF! @-()! E)&5+&@85! P'+,-,<! p/55-&,8$!
p*+5-/,! p&*(+A! /5! p*+2*-=*7! .A! %-g(**,()L"*,('+A! Q((&B/,! :'()&+5$! R,! M*;=-;;*?! ")/+;*5! p7/)
3%e%A1$F?!0)*!R7*/!&#!R+/,!YX$!I#&+()2&B-,<J$!
! 9!!Q,! ()*! '5*! &#! F+&=*+.5! /,7! 5/A-,<! -,! 2;/55-2/;! Q((&B/,! F&*(+A! 5**! E/A/?! P/A+/B! :;-?!
:(/5~G;*+-! =*! D*A-B;*+-,! D…=‹,! •--+-,7*! E';;/,ˆBˆ! -;*! D…=‹,;/+ˆ,! P'! %~G! k/;ˆ1;/+ˆBˆGˆ,!
z,*B-$!m1A%0)u$/=1?%(P)%,%N(P,5%<%,P)m/,>1F1!]IWXYYJ?!YY\[s$!
10!! Q,!“•B-7•!5**!T/”•5•?!R•5•,!“•B-7•!R–#/)•,•?!/G!5)•Ž-+•,L-!F•5)<•BL-!B/1(/.L-!='—‘Ž7/+!5/77/L
A-!,')'B$!n%I7Ç7%F7M1)I%=;0)A%)%$%=1?;(M1)„;,F !,&$!s[h0•.-5(•,!Yqn]hWXYZ?!nY\YY[$!
11!! U&+! /! +*2*,(! 5'BB/+A! &#! ()*! B&=*B*,(! 5**! :A,'+?! N/(-2*?! T*()-,1-,<! ()*! 0V+1…L-! P/5…(!
B&=*B*,(!-,!0'+1-5)!O-(*+/('+*$!4,271A"5)K((65%012"5!W[IWXXoJ?!Zn\nZ$!

!
({)& !

.#5.1#& 8:5F& 311& 731@-& 58& 1,8#& 3-& 4+#& .5#4€-& 0#15D#%J& *+#-#& .5#F-& 3:#& 7:,44#6& ,6& 3&
-,F.1#&136$/3$#¿&4+#9&3:#&-4:3,$+485:73:%M&132@&3:4,8,2,31,49&ƒ"0B0QQ#-„&36%&#1305:34#&
:+#45:,231&%#D,2#-J&&
w6#& 58& 4+#& 7#11G@6576& :#.:#-#6434,D#-& 58& 4+,-& -491#& 58& .5#4:9& 73-& k,+z1•& ƒ%J&
Lht(„J&H,-&3F5:5/-&.5#F-&3%%:#--#%&45&D3:,5/-&2:384-F#6M&3&43,15:M&3&255@M&3&.#:-56&
F3@,6$& -,1D#:& 4+:#3%M& 3& Cb,&BGF3@#:& 5:& 36& /663F#%& 95/4+& $5,6$& 45& 4+#& 034+& 36%&
3654+#:& 56#& +#& -37& -5F#7+#:#& 215-#& 45& 4+#& <93& !5893& 7#:#& .:#-#:D#%& ,6& A‹‚•&
î#1#0,€-&"&jB%,&&36%&,6&D3:,5/-&.5#4:9&2511#24,56-&ƒ=&3=IH3-„J#$&
l,D36-&58&.5#4-M&1,4#:3:9&364+515$,#-&36%&.5#4:9&2511#24,56-&25643,6&Ð/,4#&3&8#7&
.5#F-&3%%:#--#%&45&-,F.1#&.#5.1#M&3F56$&4+#F&2:384-F#6&0#15D#%-M&,6%,234,6$&4+34&
4+,-&-491#&58&$3"#1&73-&Ð/,4#&.5./13:&,6&/:036&2#64:#-&58&4+#&#F.,:#J&<&%,-4,624&$:5/.&
58& .5#F-& 7,4+,6& 4+,-& 234#$5:9& 58& $3"#1-& 3:#& 3%%:#--#%& 45& 3& D#:9& -.#2,31& 49.#& 58&
0#15D#%-M&4+#&=0H3I)3JM&.:58#--,5631-&.:#.3:,6$&36%&-#11,6$&=0H3I)M&´.3-4#€J&
.0H3I)& ,6& 4+#& L{!"& 2#64/:9& w445F36& 2564#K4& 73-& 3& $#6#:,2& 4#:F& %#-2:,0,6$& 3&
213--&58&#1#24/3:,#-&-51%&,6&4+#&85:F&58&.3-4#M&,621/%,6$&F#%,2,6#&36%&D3:,5/-&49.#-&
58& 5.,/F& 36%& 236630,-G03-#%& %:/$-J& <6& /6%34#%M& F36/-2:,.4& .:#-#:D#%& ,6& 4+#&
j,01,54+ÓÐ/#& ”6,D#:-,43,:#& %#-& >36$/#-& #4& C,D,1,-34,56-& ,6& O3:,-& 25643,6-& 4+#&
%#-2:,.4,56& 58& 3& 13:$#& 6/F0#:& 58& .3-4#-M& 45$#4+#:& 7,4+& 4+#,:& ,6$:#%,#64-& 36%&
,6-4:/24,56-&+57&45&.:#.3:#&4+#FJ&*+#&4#K4&ƒ;-J&65J&LnL„&4,41#%&d%"<C4%(=0H<3>)M&*+#&
j55@&58&=1#24/3:,#-M&%#-2:,0#-&3&7,%#&:36$#&58&.:5%/24-&3&=0H3I)3J&25/1%&.:5%/2#M&
#K4#6%,6$& 8:5F& 36& #1#24/3:9& 2311#%& 3<2%$<)& ƒ´#4#:6,49€„& 832,1,434,6$& 156$#D,49M& 45&
25::505:364-M&F#%,2,6#-M&-9:/.-M&-53.-&36%&D3:,5/-&%:/$-M&1,@#&C&,¿&36%&-#)I)%90J#%&
O:5%/24-& 4+34& 23.4/:#%& 4+#& ,F3$,634,56& 58& .5#4-& 36%& ,6-.,:#%& 4+#F& 45& 25F.5-#&
$3"#1-&45&=0H3I)3J-&-##F&45&+3D#&0#156$#%&45&4+#&13-4&$:5/.J&äz4•&ƒ%J&Lht{„&56#&58&
4+#& F5-4& .:51,8,2& $3"#1& 25F.5-#:-& 58& +,-& 3$#M& 7+5& %#%,234#%& Ð/,4#& 3& 8#7& .5#F-& 45&
#D#:9%39& 36%& 2:384-F#6& 0#15D#%-M #' &+3-& 4+:##& $3"#1-& %#-2:,0,6$& 4+#& 756%#:-& 3&
=0H3I)3J€-&-+5.&25/1%&588#:J#(&
!55956$& P,F& ,6& +,-& F565$:3.+& 56& äz4•& 4:36-134#%& 475& 58& 4+#-#& .5#F-& 36%&
,64#:.:#4#%& 4+#F& 3-& $3"#1-& 3%%:#--#%& 45& •3& F3@#:& 58& 4+#& =&'%,& .3-4#M& 3& F#%,2,631&
#1#24/3:9& 4+34& 73-& /-#%& 85:& 36& 3--5:4F#64& 58& 3,1F#64-& 36%& .5./13:,"#%& #3:19& ,6&

!
12!! ˜uˆ1! ™*;*.-?! f/Nv‚1,B‚NMN"¡%,v$! f7$! U-;-G! Eˆ;ˆŒ$! :,1/+/! WXYo?! qnW\qn]9! p*+=‹,*! .$! :.7';;/)?!
n/,Av0/)./?)f/25"%FP$!f7$!E/B-;!:;-!rˆA,/u$!:,1/+/!WXYZ?!WsY?!Ysq[\Ysq]$!
13!! Q,! =/,N! 5**! pƒ+-! P*,*7*1?! rA•<A5G*+.|;! š)/,<';/(i/=€(•š3! *<A! F/+(-7+&<! 1/++-*+i*! /G! Q5GBt,!
P-+&7/;&B./,! IU+&B! B*7-2-,*! (&! B&&7! *,)/,2*+3! ()*! 2/++-*+! &#! /! F/+(A! 7+'<! -,! ()*! Q((&B/,!
fBF-+*J$!!3I%=6<2FM3I%(5t,M./,/>1)3I/5</![s?!,&$!WIWXYnJ?!s[\[]9!pƒ+-!P*,*7*1?!:!v/,-55/+A85!
%&,!0'+,*7!D+'<<-5(!/,7!N-5!N-<);A!%'22*55#';!D*5-<,*+!D+'<!-,!Y]()\YZ()!"*,('+A!R5(/,.';?‚!
R,3! KF5%0<P) {F(%0="<") kŒ$! f7$! U*+-7',! M$! fB*2*,! /,7! :;-! :1Aˆ;7ˆG! /,7! fB+/)! %/#/! rV+1/,$!
‡5(/,.';!WXY]?!]sq\][s$!
14!! E-B?!%&&A&,<?!p7/)j%F()6e)40)4>/$!p7/)f%*10>)%0$)•05%*10>)6e)%)31…(//0(7Mg/0(",?)K((65%0)
n6/($!O&,7&,!/,7!C*@!4&+1!WXYo?!]W$!
15!! 0/+;/,?! :;-! C-)/7! I*7$J! d%(l) m1A%0P! If7-5A&,! E+-(-1! =*! 0+/,51+-F5-A&,J$! r/G*;;*+! Eˆ5Bˆ! RR$!
‡5(/,.';!YnZX?![X]\[XZ9!™/='u&›;'?!M*)B*7!/,7!0/,A*+-?!M$!:;-!I*75$J!d%(l)m1A%0P!If7-5A&,!
E+-(-1!=*!0+/,51+-F5-A&,J$!r/G*;;*+!Eˆ5Bˆ!RRR$!‡5(/,.';!YnoZ?!qY]\qYZ$!

!
 ! ({L&

!s1#9F36€-&:#,$6“J#)&*+,-&,64#:.:#434,56&-+57-&4+34&4+#&3/4+5:&73-&654&373:#&58&4+#&
2564#F.5:3:9& :#31,4,#-& 4+34& ,6-.,:#%& 4+#& .5#4J& Š4& F,--#-& 4+#& F3,6& .5,64& 36%& 83,1-& 45&
:#25$6,"#& 4+#& .5#4,2& :,%%1#-& 36%& :+#45:,231& 6,2#4,#-& 4+34& F3@#& äz4•€-& .5#F& 3&
-+5723-#& 58& +57& 4:3%,4,5631& #1#F#64-& 236& 0#& /.%34#%& 36%& 3%3.4#%& 45& .5#4,231&
2564#K4-&:#81#24,6$&#D#:9%39&#K.#:,#62#-J&
*+#& w445F36& .5#4,231& 4:3%,4,56& ,64:5%/2#%& 3& 8#7& ,665D34,56-& 45& 4+#& 213--,231&
O#:-,3634#& 1,4#:3:9& 4:3%,4,56& ,6& 4+#& #3:19& L{!"& 2#64/:9M& -5F#& 58& 7+,2+& :#81#24#%&
w445F36&:#31,4,#-J&w6#&58&4+#-#&-.#2,31&w445F36&8#34/:#-&73-&4+#&-#F364,2&8,#1%&58&
236630,-J#*&<-& ,4& +3-& 0##6& :#8#::#%& 45& #3:1,#:& 36& #--#64,31& 0:362+& 58& 4+#& =0H3I)3J€-&
:36$#&58&.:5%/24-&73-&%:/$-M&-5F#&58&7+,2+&73-&.:5%/2#%&/-,6$&236630,-J&>55@,6$&
34&äz4•€-&$3"#1&8:5F&4+,-&.#:-.#24,D#&#6301#-&4+#&:#3%#:&45&-##&4+#&4#K4&,6&3&6#7&1,$+4&
36%&%,-25D#:&311&4+#&+,%%#6&.5#4,2&6,2#4,#-J&
^%,(DrF&Q(=0H3I)3J)#Ã($>$<,J)#Ã(õ09,<)J90=(
Ñ+ÛÛ04%(Q0HQ4%(Q&C%(&',<,J)#Ã(õ09,<)J90=(
Š&3F&%)"+z%30"&$&09&4+#&-,$+4&58&3&0#3/4,8/1&.3-4#GF3@#:M&
Š&3F&%)"+z%30"&$&09&4+#&-#2:#4-&58&4+#&.,1105K&58&+,-&:/09&1,.-J&
*+#& F#36,6$& 58& 4+#& 1#FF3& õ09,<)& ,-& /-/3119& $,D#6& ,6& %,24,563:,#-& 3-&
´%5F085/6%#%€&36%&,6&4+,-&F#36,6$&,4&,-&36&,64#$:31&.3:4&58&4+#&-,$6,89,6$&/6,D#:-#&58&
213--,231&$3"#1&.5#4:9J&Š6&<¿JÛ<)&&$3"#1-&,4&%#654#-&4+#&-434#&58&F,6%&4+#&.5#4&15D#:&
$#4-&,645&7+#6&+#&-##-&4+#&0#15D#%€-&0#3/49J&H57#D#:M&4+#&3%r#24,D#&,-&31-5&3&7#11G
@6576& 4#:F& ,6& 4+#& L{!"'LN!"& 2#64/:9& D5230/13:9& 58& %:/$& -/02/14/:#M& 36%& 4+/-& 36&
,64#$:31&.3:4&58&4+#&-#F364,2&8,#1%&58&236630,-&5:&F5:#&7,%#19&%:/$&/-#M&:#8#::,6$&45&
4+#&314#:#%&-434#&58&256-2,5/-6#--&%:/$-&,6%/2#J&&
äz4•&D#:9&256-2,5/-19&.132#%&4+#&75:%&.139&ƒ>f<=„&03-#%&56&4+#&%5/01#&F#36,6$&
58& 4+#& 75:%& ,6& 3& @#9& .5-,4,56& 36%& /-#%& ,4& 3-& 4+#& ,&$>-& 58& 4+#& .5#FJ& *+,-& 739& +#&
%#8,6#%& 4+#& 45.,2M& -#4& 4+#& 456#& 58& +,-& $3"#1& 36%& .:5D,%#%& 4+#& :#3%#:& 7,4+& 21#3:G2/4&
$/,%362#&+57&45&,64#:.:#4&4+#&.5#FJ&
Ñ+ÛÛ0M&4+#&8,:-4&75:%&,6&4+#&-#256%&+#F,-4,2+M&,-&36&584#6&:#2/::,6$&75:%&,6&19:,2&
.5#4:9J&Š4&,-&/-#%&,6&-,F,1#-&36%&F#43.+5:-&3-&36&50r#24&45&7+,2+&4+#&0#15D#%€-&F5/4+&
,-&25F.3:#%&ƒõ+ÛÛ0($&f&)„J&j#3/4,8/1&0#15D#%-&+3D#&4,69&F5/4+&,6&213--,231&.5#4:9&
:#-#F01,6$& -F311& 50r#24-& 1,@#& 4+#& 2,:21#& 58& 4+#& 1#44#:& =>=& ƒ „& 5:& 3& 1,441#& :5/6%& 05KJ&
w:,$,63119M&36%&,6&4+#&2564#K4&58&4+#&.:#-#64&.5#FM&4+#&65/6&õ+ÛÛ0&:#8#:-&45&3&-F311&
.5:4301#&25643,6#:&/-#%&85:&-45:,6$&.,11-J&
`',<,&,6&4+#&-3F#&1,6#&+3-&3&%5/01#&F#36,6$J&Š6&,4-&8,:-4&F#36,6$&,4&,-&4+#&<:30,2&
.1/:31& 58& 'J,,& ´-#2:#4€& 36%& 34& 4+#& -3F#& 4,F#& ,4& ,-& 4+#& w445F36& 36%& F5%#:6& */:@,-+&
4#:F& %#654,6$& 236630,-J& *+#& 75:%& Q&C& ´1,.€& ,-& 3& $#6#:31& 75:%& Ð/,4#& 8:#Ð/#6419& F#4&
7,4+&,6&19:,2&.5#4:9J&Š4-&85:F&-/88,K#%&7,4+&4+,:%&.#:-56&$#6,4,D#&F3:@#:&25/.1#%&7,4+&

!
16!! E-B?!p7/)j%F()6e)%0)4>/?!]W$!
17!! U&+! /! 7*(/-;*7! 7*52+-F(-&,! &#! ()*! (&F-2! 5**! pƒ+-! P*,*7*1! "/,/.-5! If5+•+J3! :! H,-—'*! %*B/,(-2!
U-*;7!-,!";/55-2/;!Q((&B/,!OA+-2!p&*(+A$!p",212%!soIWXYZJ?!n\q]$!

!
({(& !

4+#&6#K4&75:%&,6&4+#&1,6#&&',<,M&+57#D#:M&236&0#&/6%#:-455%&3-&3&%,:#24&311/-,56&45&3&
7,%#-.:#3%&%:/$&58&4+#&L{!"'LN!"&2#64/:9J&e&C4%($%QC&,&5:&$%QC&,(Q&C%%&&73-&4+#&63F#&
58& 3& 236630,-G03-#%& #1#24/3:9& 7,4+& 3& 156$& 13-4,6$& .5./13:,49J& >3’•8•& ƒ%J& Lh…(„& 3&
1,4#:3:9& 2:,4,2& 8:5F& 4+#& L{!"& 2#64/:9& F#64,56-& ,4& 3-& 56#& 58& 4+#& F369& %:/$-& -51%& ,6&
Š-4360/1M#,&36%& ,4& 73-& 4+#& 5619& %:/$& =D1,9z& î#1#0,&ƒ%J& 384#:& L{…h„&3%F,44#%& 45& +3D#&
5223-,563119&256-/F#%J$-&&
*+#&,621/-,56&58&4+#&65/6&õ+ÛÛ0t(-5&2+3:324#:,-4,2&58&3&.3-4#GF3@#:€-&.:58#--,56M&
,6& 4+#& 1,6#& 73-& 58& /4F5-4& ,F.5:4362#& 85:& äz4•J& Š6& 5:%#:& 45& 0#& 301#& 45& %5& 4+,-& +#&
%#2,%#%&45&-1,$+419&F5%,89&4+#&256D#64,5631&,F3$#&58&4+#&•.,1105K&1,@#&4,69&F5/4+“&
09& :#.132,6$& 4+#& 4:3%,4,563119& /-#%& 75:%& $&f&)M& $&f<)& ´F5/4+€& ,6& 4+#& 65/6& .+:3-#&
7,4+& Q&C& ´1,.€J& *+,-& 739& +#& .3:4,3119& :/,6#%& 4+#& -,F,1#M& 0#23/-#& ,4& 15-4& ,4-& F5-4&
#--#64,31& .3:4M& 4+#& 03-,-& 85:& 25F.3:,-56M& 0/4& 4+#& :+#45:,2& 85:2#& .:5D,%#%& 09& 4+#&
-#F364,2&056%,6$&58&4+#&75:%-&õ+ÛÛ0M&Q&C%M&&',<,&73-&75:4+&4+#&-32:,8,2#J&
*+#& %5/01#& F#36,6$-& 58& 4+#& @#975:%-& ,6& 4+#& 5.#6,6$& 25/.1#4& ƒ=0ÄQ0H„& .:#.3:#&
4+#&:#3%#:&85:&36&,64#11#24/31&3%D#64/:#&36%&-+57&4+#&%,:#24,56&7+#:#&45&155@&85:&4+#&
-51/4,56-& 58& 4+#& .5#4,2& :,%%1#-& äz4•& +,%& ,6& 4+#& .5#FJ& *+#& -#256%& 25/.1#4& ƒC&9"„& ,-&
75:%#%&,6&4+#&-3F#&D#,6J&
^I'"<)$0(C#)J($&,(,&9õ<)([&,>¿<)(Û0QC(+Q#,(
^&)(Ê#C<,4J(É0ÄÄ4J(H0)C&,4C<,J)#Ã(õ09,<)J90=(
*+#&-7##4&03-,1&0#25F#-&%,-4:#--#%&,6&4+#&$3:%#6&36%&-39-M&
Š&3F&,645K,234#%&09&4+#&%/-4&58&4+#&3F0#:G13%#6&.#32+G8/""&58&4+#&0#15D#%J&
*+#& C&9"& 852/-#-& 56& .:3,-,6$& 4+#& .#32+G8/""& 58& 4+#& 0#15D#%M& 584#6& 25F.3:#%& 45&
-7##4G03-,1& ,6& 15D#& .5#4:9J& *+#& 475& +#F,-4,2+-& ƒ=%Ë,<H„& 25/1%& #3-,19& 8,4& ,645& 369&
213--,231&<¿JÛ<)&&$3"#1J&*+#&-#256%&+#F,-4,2+M&+57#D#:M&25643,6-&3&75:%&.139&03-#%&
56& 4+#& %5/01#& F#36,6$& 58& 4+#& 75:%& Ê#C<,J& Š4-& 5:,$,631& F#36,6$& ,-& ´.57%#:M& %/-4€M&
36%& 3-& -/2+& ,4& ,-& 584#6& .3:4& 58& F#43.+5:-& 36%& -,F,1#-& %#-2:,0,6$& 4+#& 832,31& +3,:& 58&
r/D#6,1#&059-J&*+#&-#256%&F#36,6$M&3-&,4&,-&#K.#24#%M&,-&2566#24#%&45&%:/$&/-#&36%&
:#8#:-& 45& ´236630,-& .57%#:€& 584#6& /-#%& ,6& 4+#& :#1,$,5/-& .:324,2#-& 58& 364,65F,36&
%#:D,-+&25FF/6,4,#-J$#&`',<,&7,4+&,4-&%5/01#&F#36,6$&:#4/:6-&,6&4+#&8,:-4&+#F,-4,2+&
58&4+#&85/:4+&25/.1#4J&

!
18!! 0)&'<)!()*!#&+B!</=M1)$1<=/,!-5!B&+*!2&BB&,;A!'5*7?!M'–œ/#•!Ž•;•!+*#*+5!(&!()-5!7+'<!/5!$1<=/,)
</=1$!•*1*+?!M*)B*(!I*7$J!•/<1=6<"<")f"F(%e%) #Ž<l)A/)f/Av‚1$B‚0M‘/ev1F)el)È%Av‚1$1‚<Mf/2v<1F$!
:,1/+/!YnnZ?!qXX$!
19!! O‹(-#…?!uAFveM1){F(%0="<$!f7$!C*+B-,!%',*+!Ip*1-,J$!‡5(/,.';!YnnZ?![W$!
20!! f=;-A/! ™*;*.-! .$! D*+=-u! M*)*BB*7! {ˆ;;…?! uA<1?%) w/</=1) 3/?%7%(0%5/F1É) ka) p6X*%XP) 3%,%?P)
.%L$%() \h`) J%I5%FP0P0) p,%0F*,1XF1?60"Mm1I101a! f7$! T&.*+(! D/,1&##! /,7! %*A-(! :;-! E/)+/B/,!
/,7! 4V2*;! D/›;ˆ$! ‡5(/,.';! WXX]?! qq[$! U&+! B&+*! 7/(/! &,! </=M1) $1<=/,! 5**! pƒ+-?! "/,/.-5! If5+•+J?!
WW\Ws$!
21!! Q,! ()*! @&+7! QÇ=;,! /,7! -(5! '5*5! -,! 2;/55-2/;! F&*(+A! 5**! pƒ+-?! •"/,/.-5! If5+•+J‚?! WX$! U&+! -(5!
2&,,*2(-&,! (&! /,(-,&B-/,! 5F-+-('/;! 2&BB',-(-*5! 5**! pƒ+-! P*,*7*1?! •R(! -5! ()*! ^**7! &#! O&=*+5$!
0)*! H5*! &#! "/,,/.-5! :B&,<! 0'+1-2! p*&F;*5! 'F! (&! ()*! Y[*+! "*,('+A‚! 42(%) K,10/(%<1%)
42%$/51%/)321/0(1%,"5)y"0>$!]W?!,&$!W!IWXY]J?!Y[X\Y[W$!

!
 ! ({n&

*&,($&=(+Q(¿>,>)($&f&)(&',<,$0)(2%,=&F(õ0C&,(
P<)(r($%Q$&)(C&)(0)#Ã(Dr-"<,%)#Ã(õ09,<)%90=&
*+34&-7##4&F5/4+&6#D#:&-39-&3694+,6$&305/4&-#2:#4-M&
;9&+#3:4&36%&-5/1&,-&,645K,234#%&09&4+#&739&+#&-.#3@-J&
*+#& 8,:-4& +#F,-4,2+& 236& 0#& 4:36-134#%& 3-& P,F& %,%$$&0/4& 4+#& 2564:3-4& 0#47##6& 4+#&
475&=%Ë,<H-&,6%,234#-&4+34&,4&236&31-5&0#&,64#:.:#4#%&3-&3&:#8#:#62#&45&4+#&=0H3I)3J€-&
4:3%#&36%&+,-&3225/64-&58&+,-&0/-,6#--E&•*+34&-7##4&F5/4+&%5#-6€4&31739-&Ç6##%&45È&
-.#3@&305/4&236630,-²Š&3F&8/119&,645K,234#%&09&4+#&739&+#&-.#3@-“J&
Š4& ,-& ,F.5--,01#& 45& -39& 7+#4+#:& 4+#& 3%%:#--##& 58& äz4•€-& -#256%& 15D#& .5#F&
%#%,234#%& 45& 3& =0H3I)3J& 73-& 4+#& -3F#& .#:-56& 3-& 4+#& .:#D,5/-& .3-4#GF3@#:J& *+,-&
.5#F&25643,6-&1#--&%,:#24&311/-,56-&45&4+#&=0H3I)3J&0#15D#%€-&.:58#--,56&36%&#K2#.4&
85:& 4+#& ,&$>-( õ09,<)J90=& ´Š& 3F& ,645K,234#%& 09JJJ€& 654+,6$& 75/1%& -/$$#-4& 4+34& 4+#&
0#15D#%&,6&4+#&.5#F&4:3%#%&7,4+&%:/$-J$%&
*+5/$+&4+#&.3-4#GF3@#:&0#15D#%&58&4+#&4+,:%&36%&4+#&-#256%&.5#F&-##F-&45&0#&
4+#&-3F#M&3&.#:-56&2311#%&!,@#6%#:&éz+M&4+#&4+,:%&$3"#1&25643,6-&F5:#&311/-,56-&45&4+#&
0#15D#%€-&.:58#--,56J&
`"$%(C%,(=0H3I)3J(Ê0,,<($%Q4,rC<(õ09,<)(C&)%(
`9Q&$%(9%)&(Ê#C<,(%Q&(f&2<(9&B'<)(C&)%(
<&.3-4#GF3@#:M&3&-.3:@1,6$&0#3/49&:500#%&F9&+#3:4&36%&F3%#&F#&,645K,234#%M&
l#-,:#&F3%#&F#&Ç8##1È&1,@#&%/-4J&
Ì#C<,&36%&õ09,<)&3:#&/-#%&,6&4+#&25/.1#4&,6&75:%&.139-&ƒ"&2,%9&„&03-#%&56&4+#,:&
%5/01#&F#36,6$-J&*5$#4+#:&7,4+&4+#&65/6&=0H3I)3J&4+#9&85:F&3&03-,2&:+#45:,2&8,$/:#&
2311#%& "&)0'rCM& ´256$:/#629€& 4+34& ,-& 03-#%& 56& 4+#& -#F364,2& 056%,6$& 58& 75:%-&
0#156$,6$&45&4+#&-3F#&-#F364,2&8,#1%J&*+5/$+&4+#&C&9"&,-&-##F,6$19&3&-,F.1#&25/.1#4&
8:5F&3&4:3%,4,5631&15D#&.5#FM&7,4+&4+#&-#F364,2&8,#1%&58&%:/$&/-#&1,6$#:,6$&D3$/#19&
,6& 4+#& 032@$:5/6%M& ,4-& .5#4,2& 85:2#& ,-& $:#3419& #6+362#%J& *+#& -#256%& 25/.1#4& 31-5&
25643,6-&50D,5/-&311/-,56-&45&-5F#&Ð/31,4,#-&58&4+#&=0H3I)3J€-&.:5%/24-J&
d&¿-(&$&,(9+Û$#,(2%Q<9&"$&(Q&C%(&',<,J)J(
`9Q&$%(õ09,<)J(C%,(=0H3I)3J)#Ã($&2,<)(C&)%(
*+#:#&,-&65&56#&,6&4+,-&136%&7+5&25/1%&%,-25D#:&4+#&-#2:#4-&58&+,-&1,.-M&
*+#&,645K,234,56&23/-#%&09&3&.3-4#GF3@#:&F3%#&F#&%,""9J&²&•34#&F3%#&F#&8311&
85:&3&.3-4#GF3@#:J&&
j#-,%#-&4+#&-/:832#&F#36,6$&58&4+#&25/.1#4M&4+#&8,:-4&=%Ë,<H&31-5&-/$$#-4-&4+34&4+#&
43-4#& 58& 236630,-& 25/1%6€4& 0#& 8#14& ,6& 4+#& .3-4#GF3@#:€-& .:5%/24-& 36%& 3& .5--,01#&
,64#:.:#434,56& 58& 4+#& -#256%& +#F,-4,2+& 311/%#-& 45& 3& -,%#& #88#24& 58& 236630,-&
,645K,234,56E&%,"",6#--J&
!
22!! 0)/(!5@**(LB&'()!,*=*+!+*=*/;5!/,A!5*2+*(!,*@5$!
23!! U&+!/,!f,<;-5)!(+/,5;/(-&,!&#!()*!F&*B!5**!E-B?!p7/)j%F()6e)%0)4>/?!]q$!

!
({t& !

*+#&4+,:%&25/.1#4&,-&31-5&75:%#%&,6&3&.13,6&136$/3$#&36%&-##F-&45&3%D#:4,-#&4+#&
+,$+GÐ/31,49&F#:2+36%,-#&4+#&.3-4#GF3@#:&-#11-J&
æ#,-0(=0H3I)(Db,=&B(%'"&,Q&,'&(Ä<'4%(HJ¿Û$0(
Î'"&9r(D&Q'r)(0)#Ã($rBB<)J)0(9<,<)(C&)%(
Š8&95/&7364&45&-##&3&-.#2,31&.3-4#&,6&4+#&$501#4&58&15D#M&
;9&8:,#6%-M&95/&-+5/1%&7,-+&45&25F#&45&+,-&-+5.J&
*+#&85/:4+&C&9"&,-&3&:#8#:#62#&45&3654+#:&-,%#&#88#24&58&236630,-E&4+#&%:/$&584#6&
$#4-& 256-/F#:-& ,645& 3& $,$$1,6$& F55%J& Š4& 73-& -/2+& 3& 7#11G@6576& 36%& 25FF56&
#K.#:,#62#&58&%:/$&/-#:-&,6&4+#&L{!"&2#64/:9&4+34&4+#&654,56&58&´13/$+,6$€&0#23F#&.3:4&
58&4+#&-#F364,2&8,#1%&58&236630,-J$'&
Yb,$%(B%=(C&,D4%(É0F<)(D%C%($bB&,(90¿J)(DbFr=(
`"$%(-0ËQ4%(DrQ(D%C%(=0H3I)(%Q&(É0)$<)(C&)%(
H#&-37&4+34&4#3:-&7#:#&%:,..,6$&8:5F&F9&#9#-&1,@#&3/4/F6&1#3D#-M&
I,4+&+,-&.3-4#&+#&F3%#&F#&13/$+&1,@#&-.:,6$J&
j#-,%#-&#K.:#--,6$&äz4•€-&%#%,234,56&45&4+#&.3-4#GF3@#:&36%&+,-&3%%,24,56&45&4+#&
=0H3I)3J€-&.:5%/24-M&4+#&=0Û"0H&%#-2:,0#-&3654+#:&#88#24&58&236630,-&/-#J&*+#&%:/$&
236& 23/-#& 3& -434#& 58& 01,--¿& 311& 4+#& -4:#--& 36%& 4#6-,56& 4+#& 256-/F#:& F,$+4& +3D#M&
%,-3..#3:-&36%&+#&8##1-&3-&,8&+#&73-&3&:/1#:&-,44,6$&56&+,-&4+:56#J&
Á<"%9<(-0,Û(+Q=0F0=(f&,D%F(!%B&)$&,(Ó<f$0)(
*&,(D&3&(=0H3I)J(&9Q&,(H<Q&=&('#QÄ<)(C&)%(
äz4•M&Š&75/1%&6#D#:&1#3D#&!,@#6%#:&éz+æ&
H,-&.3-4#&F3@#-&F#&3&@,6$&#D#:9&6,$+4J&
l:/$-&-##F&45&+3D#&0##6&D#:9&.5./13:&,6&4+#&w445F36&=F.,:#&36%&4+#&%#F36%&
85:&4+#&.3-4#GF3@#:-€&.:5%/24-&73-&+,$+J&*5&-#:D#&4+#&./01,2M&F369&-/2+&-+5.-&7#:#&
5.#6#%&,6&/:036&3:#3-J&<225:%,6$&45&=D1,93&î#1#0,&4+#:#&7#:#&475&+/6%:#%&=0H3#)3J&
-+5.-&,6&LN!"&2#64/:9&Š-4360/1&36%&8,D#&+/6%:#%&.#5.1#&7#:#&#6$3$#%&,6&4+,-&4:3%#J$(&
*+#&:#134,D#19&$:#34&6/F0#:&58&-/2+&/6%#:43@,6$-&36%&4+#&•756%#:8/1“&75:1%&58&4+#,:&
.:5%/24-&23.4/:#%&4+#&,F3$,634,56&58&54+#:&.5#4-&3-&7#11J&
j54+&;/}•6•€-&ƒ81J&L{!"&2J„&36%&!s:Ñ:•€-&ƒ%J&Lh{(„&%#-2:,.4,56&58&4+#,:&.3-4#GF3@#:&
0#15D#%-&-43:4&7,4+&/6#K.#24#%&,62,%#64-J$)&
;/}•6•& $5#-& 85:& 3& .1#3-/:#& 731@& ,6& Š-4360/1& 36%& -/%%#619& 654,2#-& 3& 8:#-+19&
5.#6#%&83629&6#7&-+5.&58&3&.3-4#GF3@#:¿&!s:Ñ:•&8311-&,6&15D#&7,4+&3&=0H3I)3J&,6&4+#&
*3+43@31#&%,-4:,24&58&4+#&2,49J&j54+&$3"#1-&.:3,-#&4+#&0#15D#%&7+5-#&2+3:F,6$&0#3/49&
,645K,234#-& 4+#& .5#4-J& *+#-#& .5#F-& 3:#& 7:,44#6& ,6& 3& -,F.1#& 136$/3$#& :#81#24,6$&
!
24!! pƒ+-?!"/,/.-5!If5+•+J?!Wn$!
25!! f=;-A/!™*;*.-?!f=;-A/!™*;*.-!%*A/)/(,/B*5-?!Wso$!
26!! U&+!()*!#';;!(*g(!&#!()*!F&*B5!5**!()*!:FF*,7-g$!U&+!/!#';;!(+/,5;/(-&,!&#!M'Ž•,•85!F&*B!5**!pƒ+-?!
"/,/.-5!If5+•+J?!Ws$!

!
 ! ({h&

2564#F.5:3:9& :#31,4,#-& 09& F,K,6$& 4:3%,4,5631& ,F3$#:9& 7,4+& #1#F#64-& 8:#-+19&

,64:5%/2#%& 09& w445F36& 3/4+5:-& 45& 4+#& -,$6,89,6$& /6,D#:-#& 58& w445F36& .5#4:9J&
A+#45:,23119& 4+#9& 3:#& 654& 455& 25F.1#K¿& 4+#& %#D,2#-& ;/}•6•& 36%& !s:Ñ:•& 3..19& 3:#&
-,F.1#& -,F,1#-M& F#43.+5:-M& 36%& F5-4& ,F.5:436419& 75:%& .139-& 03-#%& 56& 75:%-& 4+34&
+3D#& 475& 5:& F5:#& F#36,6$-M& 56#& 58& 7+,2+& 236& 0#& ,64#:.:#4#%& 3-& 36& 311/-,56& 45&
2564#F.5:3:9&%:/$&2/14/:#J&&
*+#&-#256%&36%&4+,:%&25/.1#4-&58&;/}•6•€-&$3"#1&25643,6&-#D#:31&58&4+#-#&75:%-J&
¥"#,=J¿(0)$0(C%,(õ+ÛÛ04$&f&)(9<,(r(=r-&,,%õ4Q&C(
d%(C%,(B&9-%99&"(%Q&(õ+ÛÛ090(Û+9=J¿()%À&(3<)J(
Z)#Ã(õ09,<)QJÊJ)$0)(C&)(BrQ&f(&"=&F$r=(&9(F<f%$(
Yb"r,'&=(C0¿#=(r'"%)$&(Ê#C<,4%(,<f4%(3<)<)J(
<&0#15D#%&73-&-,44,6$&4+#:#M&+,-&F5/4+&73-&Ç4,69È&1,@#&3&.,1105KM&+,-&1,.-&7#:#&
#K+,13:34,6$M&
*+#&#/.+5:,3&+#&,6%/2#%&+3%&31:#3%9&05/6%&-#D#:31&-5/1-&45&+,-&.,1105KJ&
<-2#4,2æ&*+#&,645K,234,56&+#&23/-#%&F3%#&F#&85:$#4&F9&%#:D,-+&23.M&
=D#6&,8&Š&1#4&4+#&%/-4&8:5F&4+#&0#15D#%€-&-4:##4&-#441#&56&F9&+#3%J&
*+#&3%r#24,D#&=r-&,,%õM&4+#&8,:-4&.3:4&58&4+#&25F.5/6%&=r-&,,%õ4Q&C&´#K+,13:34,6$&
1,.-€&73-&4+#&63F#&58&3&.5./13:&%:/$&,6&4+#&Š-13F,234#&75:1%J&d&9-%99&"&´Ð/31,49€&+3-&
3& -#256%& F#36,6$& ,6& 2564#F.5:3:9& w445F36& D5230/13:9& %#654,6$& 3& F#::9& -434#&
,6%/2#%& 09& 4+#& /-#& 58& %:/$-J $* &j#-,%#-& 0#,6$& 4+#& 30-4:324& 65/6& 85:F#%& 8:5F& 4+#&
3%r#24,D#&õ09,<)M&3&4#:F&4+34&+3-&31:#3%9&0##6&F#64,56#%&3-&4+#&.3:&#K2#11#62#&4#:F&
85:&%#-2:,0,6$&3&-434#&58&314#:#%&256-2,5/-6#--&23/-#%&09&%:/$-M&õ09,<)QJÛ&73-&31-5&
/-#%&45&F#36&236630,-&,6&4+#&L{!"&2#64/:9J$+&*+#&/44#:362#&,6&4+#&-#256%&+#F,-4,2+&58&
4+#&-#256%&25/.1#4M&C%,(B&9-%99&"(%Q&(õ+ÛÛ090(Û+9=J¿()%À&(3<)JM&1,4J&´+#&+3-&./4&7,4+&
4+,-&F#::9&F55%&Ç23/-#%&09&4+#&%:/$-&+#&-#11-È&Ð/,4#&3&8#7&-5/1-&,645&4+#&.,1105K€&236&
0#& /6%#:-455%& 4+34& F369& 58& 4+#& 2/-45F#:-& $54& 3%%,24#%& 45& 4+#& .3-4#GF3@#:€-&
.:5%/24-J&
*+#& 4+,:%& C&9"& ,-& 36& /.%34#%& D#:-,56& 58& 3& 7#11G@6576& .5#4,2& 45.5-& 584#6&
522/::,6$&,6&213--,231&O#:-,3634#&$3"#1&.5#4:9M&#-.#2,3119&,6&,%)$<)&&´1,0#:4,6#&-491#€&
$3"#1-J&A,6%-&3:#&,6-.,:#%&1,0#:4,6#-M&:#.:#-#64,6$&F#F0#:-&58&-.,:,4/31&25FF/6,4,#-&
#6%#3D5/:,6$& 45& 3443,6& 36& #2-434,2& .#:-5631& #K.#:,#62#& 58& B5%M& ,6-4#3%& 58& -,F.19&
851157,6$&5:4+5%5K&:#1,$,5/-&.:324,2#-&36%&50#9,6$&:#1,$,5/-&137J&Š6&213--,231&.5#4:9&
4+#9&3:#&%#.,24#%&3-&%:,6@#:-&58& 7,6#M&3&-/0-4362#&.:5+,0,4#%&09&Š-13FM&7+5&-.#6%&
F/2+&4,F#&,6&43D#:6-&/-,6$&7,6#&3-&36&#64+#5$#6&4+34&+#1.-&4+#F&,6&4+#,:&-.,:,4/31&

!
27!! U&+!()*5*!(*+B5!5**!pƒ+-?!"/,/.-5!If5+•+J?!Y]\YZ9!WX\WW$!
28!! U&+!()-5!B*/,-,<!&#!()*!@&+7!5**!pƒ+-!P*,*7*1?!P*,<?!*5G+t+?!B/5G;/<3!/!2/,,/.-5!ƒ5!/!2/,,/.-5!
(/+(/;Bž! 7+&<&1! /G! /,/(•;-/-! (~+~15ƒ<,ƒ;$! 0*+B-,&;•<-/-! t((*1-,(ƒ5‚! T/</(*"(%(tF! WXYW! (/=/5G?!
]X$!

!
({{& !

Ð/#-4J$,&*+#9&3:#&31739-&-+576&,6&3&.5-,4,D#&1,$+4&7+,1#&5:4+5%5K&2+3:324#:-&ƒF<f%$&
´3-2#4,2€M& ËI->& ´%#:D,-+€M& 2<H%ö& ´.:#32+#:€M& #42J„& 3:#& -+/66#%J& ;/}•6•& 3%3.4#%& 4+#&
4:3%,4,5631& 45.5-& 45& 4+#& .5#4,2& 2564#K4& 58& +,-& .5#F& 7+#6& +#& :#.132#%& 7,6#& 7,4+&
236630,-J&*+#&.5#4G15D#:&4/:6-&+,-&032@&45&5:4+5%5K&:#1,$,5/-&.:324,2#-&:#.:#-#64#%&
,6&4+#&25/.1#4&09&4+#&2+3:324#:&58&4+#&3-2#4,2&ƒF<f%$„&36%&4+#&65/6&BrQ<f&%#654,6$&4+#&
+#3%$#3:& 75:6& 09& ;#D1#D,€-& %#:D,-+#-M& 36%& 2+55-#-& 4+#& #2-434,2& -.,:,4/31,49&
-9F051,"#%&09&15D#&36%&4+#&/-#&58&Ê#C<,M&236630,-&.57%#:J&!,62#&236630,-&73-&/-#%&
3-& 36& #64+#5$#6& 09& -5F#& 364,65F,36& 25FF/6,4,#-M& 3& -2#6#& %#-2:,0#%& 09& -#D#:31&
=/:5.#36& 4:3D#11#:-M %- &36%& ;#D1#D,€-& 7#:#& 56#& 58& 4+#& 4:3%,4,5631& :#1,$,5/-&
25FF/6,4,#-& @6576& 85:& 5:4+5%5K& .,#49& ,6& 4+#& w445F36& #F.,:#M& 4+#& .5#4,2& 45.5-&
03-#%& 56& 4+#& %,2+545F9& :#.:#-#64#%& 09& ,%)$-& 36%& 5:4+5%5K& %#D54##-& :#2#,D#-& 36&
w445F36&813D5/:&,6&4+#&.5#FJ&
*+#& 85/:4+& 36%& 8,84+& 25/.1#4-& 31-5& 25643,6& %,:#24& 311/-,56-& 45& 4+#& .:5%/24-& 4+#&
.3-4#GF3@#:&0#15D#%&-#11-E&Q&C4%($%QC&,M&=0H3I)&36%&C&,¿M&36&5.,/F&03-#%&#1#24/3:9&
#6r59,6$&$:#34&.5./13:,49&,6&4+#&L{!"'LN!"&2#64/:,#-M&311&58&4+#F&.:5%/2#%&,6&4+#&85:F&
58&.,11-&ƒõ0CC&„J&
Y&,(+Q($%Q4C&,(Q&C%(-%B,%)(&$&,'&=(C&)(D&3&(Dr)$rF(
¥Q#,(C#(É0'"&Q&,(D%C%(0)#Ã(&',<,J(õ09,<)J(
.#H>)>(0ÀJQ#,(DbÃQrÃ(DbFrÃ(C%,(õ0CC&(Ê0=(Û0Q=0F(
È&9r[(=0H3I)(r(C&,¿%)%("&=<¿<(&9Q&'&Ã(0)J(
Š8&Š&@##.&4+,6@,6$&58&4+#&1,.-&58&4+#&0#15D#%M&%39&36%&6,$+4M&
Š&75/1%&0#&,645K,234#%&09&+,-&-#2:#4-&1,@#&4+#-#&Ç15D#È&-4:,2@#6&.#5.1#J&
;/}•6•æ&Š4&7,11&5.#6&/.&4+#&#9#-&58&95/:&-5/1&36%&654&3&-,6$1#&$:3,6&58&-5::57&
:#F3,6-M&
I+#6&95/&256-/F#&+,-&=0H3I)&36%&C&,¿&36%&@##.&155@,6$&34&+,FJ&
!s:Ñ:•€-&3..:532+&45&+,-&45.,2&,-&3&0,4&%,88#:#64&3-&+#&852/-#-&F5:#&56&4+#&.3-4#G
F3@#:€-& .:5%/24-& 36%& 4+#,:& #88#24-M& 4+36& 56& 4+#& =0H3I)3J& +,F-#18J& H,-& 311/-,56-& 45&
w445F36& %:/$& 2/14/:#& 3:#& F5:#& %,:#24& 36%& +,-& .5#F& ,-& :+#45:,23119& 3& 1#--& 25F.1#K&
F,K4/:#& 58& 4:3%,4,5631& ,%#3-& 36%& ,F3$#-& 58& 15D#& .5#4:9M& 36%& #1#F#64-& :#81#24,6$&
2564#F.5:3:9&:#31,4,#-J&
&

!
29!! U&+! /! 7*(/-;*7! (+*/(B*,(! &#! ()*! (&F-2! 5**! O*@-5&),?! O*&,/+7?! 0)*! T*;-<-&,! &#! O&=*! /,7! ()*!
p'+-(/,5!&#!R5;/B$!%'#-!5&'+2*5!&#!“•#-Ÿ85!:,(-L2;*+-2/;-5B$!R,3!O*@-5&),?!O*&,/+7!I*7$J!y%e1I)
%0$)(7/)o/<1>160)6e)j6A/)10)g<%FF12%<)n/,F1%0)n6/(,?a)O&,7&,!/,7!C*@!4&+1!WXYX?!Y]X\Yn]$!
30!! D*+,52)@/B?! N/,5?) u,$r<?R) ./I(/,2/=t0?%R) pq,q*6,FIt>1) Ê(10%X<s$! P'7/F*5(! Ynos?! WX]9!
M*,/=-,&?!r-&=/,,-!:,(&,-&?!p,%((%(6)$/)26F("51)/()A1(%)$/)p",271a!Y[so?!Zo\Zn$!M*,/=-,&85!
7*52+-F(-&,! @/5! .&++&@*7! .A! &()*+! /'()&+5! /5! @*;;$! %**! %/,&=-,&?! U+/,2*52&?) y1F(6,1%)
$/<<‚6,1>10/) /() 15X/,16) $/) p",271$! k*,*G-/! Y[]o?! qY9! O&,-2*+?! p)-;-FF?! g7,60126,"5)
p",2126,"5a) p65"F) X,15"F) /() F/2"0$"F$! U+/,1#'+(! Y[os?! YYX9! P/,7-*+?! M-2)/*;?! y1F(61,/)
>/0/,%</)$/)<%),/<1>160)$/F)p",2F$!p/+-5!Y]W[?!Yo]$!

!
 ! ({N&

<84#:&4+#&8,:-4&475&25/.1#4-&:#134,6$&+57&+#&8#11&,6&15D#&7,4+&3&.3-4#GF3@#:&,6&4+#&
*3+43@31#& %,-4:,24M& !s:Ñ:•& -43:4-& %#-2:,0,6$& +,-& #K.#:,#62#-& 7,4+& %:/$-& 36%& #K.13,6-&
+,-& 344:324,56& 45& 4+#& 0#15D#%& 7,4+& +,-& 3%%,24,56& 45& 4+#&F,6%& 314#:,6$& -/0-4362#-& 4+#&
=0H3I)3J&.:5%/2#-J&*+#&8##1,6$&58&01,--M&3&-,%#&#88#24&58&236630,-&4+34&73-&75:%#%&
09&äz4•&,6&4+#&215-,6$&25/.1#4&58&+,-&4+,:%&.5#FM&,-&31-5&F#64,56#%&09&!s:Ñ:•&,6&4+#&
-#256%&=%Ë,<H&58&+,-&4+,:%&C&9"J&&
^&)D(%Q&9$%(%ÛQ>=rÃ('#QÄ<)J(+Q$J(DbÃQr=rF(
Š4&73-&236630,-&4+34&F3%#&F9&+#3:4&4+#&-/1436&58&4+#&136%&
^&)DM&4+#&75:%&!s:Ñ:•&/-#-&45&%#654#&4+#&%:/$&,-&4+#&F5-4&25FF56&4#:F&3..1,#%&
45&:#8#:&45&236630,-&,6&O#:-,36&-5/:2#-J%#&*+#&.+:3-#&Bb,(C&)D>&,6&4+#&6#K4&25/.1#4&,-&
3& 4#:F& 054+& 85:& 236630,-& 3%%,24-& 36%& .#5.1#& ,6& 4+#& -434#& 58& 236630,-& ,645K,234,56M&
7+,1#& "%,9<B>& :#8#:-& 45& 256-/F#:-& 3%%,24#%& 45& 5.,/F& 03-#%& %:/$-J& *+#& -#256%&
+#F,-4,2+&-##F,6$19&%#-2:,0,6$&4+#&.5#4G15D#:€-&34432+F#64&45&+,-&0#15D#%&236&31-5&
0#& ,64#:.:#4#%& 3-& 36& 3225/64& 58& +,-& %:/$& 3%%,24,56& 36%& +,-& 7,4+%:3731& -9F.45F-J&
*+,-&236&0#&4:/#&85:&4+#&-,K4+&25/.1#4&36%&4+#&215-,6$&C&9"&3-&7#11J&
æ0Ã(=J(Bb,(C&)D%(2r(D&ÀD%)(¿b9Q&("%,9<B%(+Q0=t(
Ör)B%(+Q(=0H3I)3J)#Ã(D%,9<)J(+Q$J(DbÃQr=rFv(
Š4€-&65&756%#:&4+34&Š&3F&,645K,234#%&36%&0#%3""1#%&09&236630,-M&36%&4+34&Š&3F&
36&5.,/F&3%%,24M&
w/:&+#3:4&2:,#-&5/4&85:&4+34&.3-4#GF3@#:J&
ZÊF#Ã(&',<,J(C%"&,($%Q$&(¿&f<(õ09,<)Q0,0t(
m0,(%'&(&',<,#Ã#Ã(CI'"<)J(+Q$J(DbÃQr=rFv(
w& !+3+æ& *+#& -#2:#4-& 58& 95/:& F5/4+& -.:5/4& ,6& 4+#& +#3:4& 58& 4+5-#& 7+5& 3:#&
,645K,234#%M&
Š8&4+#:#&,-&3&$3:%#6&85:&95/:&-#2:#4-²236630,-M&,4&,-&,6&5/:&+#3:4J&
X%Q$&(9<ÛI"4J(=r-&,,%õ$r,(!r,I,>(Àr)(Q&C%(
P&2f&,>(=0H3I)Q0,#Ã($rBB<)J(+Q$J(DbÃQr=rF(
Š6&!s:Ñ:•€-&+#3:4&+,-&1,.-&3:#&1,@#&4+#&:/0,#-&/-#%&,6&4+#&=r-&,,%õM%$&
w/:&+#3:4&0#23F#&3&-+5.&85:&95/:&.3-4#-&F3%#&58&$#F-J&
<-&236630,-&/-#&-.:#3%&,6&4+#&O#:-,3634#&75:1%&,4&0#23F#&3&2+#3.&314#:634,D#&58&
7,6#J& <& :#8#:#62#& 45& 4+#& :,D31:9& 58& 236630,-& 36%& 7,6#M& 3& 45.,2& #1305:34#%& 56& 09&
-#D#:31&4#K4-&,6&D3:,5/-&*/:@,2&136$/3$#-M%%&3..#3:-&,6&4+#&-#D#64+&25/.1#4J&*+#&C&9"&

!
31!! U&+!*g/BF;*5!(/1*,!#+&B!p*+5-/,!5&'+2*5!5**!pƒ+-?!P*,<?!*5G+t+?!B/5G;/<?![Y\[W$!
32!! U&+! ()*! 5Be/,,1¬! F+*F/+*7! @-()! F&@7*+*7! <*B5! 5**! pƒ+-?! "/,/.-5! If5+•+J?! WY9! %2)-BB*;?!
:,,*B/+-*?!4)p€6)g6<6",/$).,62%$/”)k5%>/,?)6e)n/,F1%0)n6/(,?$!")/F*;!N-;;!YnnW?!Y[o\Y[n$!
33!! Q,!0'+1-2!(*g(5!&,!()*!(&F-2!5**!pƒ+-!P*,*7*1?!M'•/BB*7!U'G‘;•85!•0)*!D*./(*!&#!^**7!/,7!
^-,*‚!IP*,<!V!P•7*J!T*=-5-(*7$!0&@/+75!/!C*@!R,(*+F+*(/(-&,$!m1?v,$!I#&+()2&B-,<J$!

!
({…& !

31-5&:#81#24-&w445F36&:#31,4,#-E&7+,1#&7,6#G-+5.-&36%&43D#:6-&7#:#&215-#%&7+#6#D#:&
3/4+5:,4,#-& %#2,%#%& 45& #685:2#& Š-13F,2& 137-& 56& 7,6#& 36%& 7,6#& %:,6@,6$M& D3:,5/-&
%:/$-&7#:#&8:##19&-51%&36%&/-#%&,6&4+#&w445F36&=F.,:#J&&
ZÀ0QJ(=0H3I)($rBB<)J)(Û0[0)$J(=&9D&$&(
.&9(9&,%)&(¿%=$%(=0H3I)(B<)J(+Q$J(DbÃQr=rF(
!,62#&+#&5.#6#%&+,-&.3-4#&-+5.&4+#&43D#:6&+3-&215-#%M&
<6%&5/:&+#3:4&0#23F#&3&F,6#&58&=0H3I)&,6-4#3%&58&7,6#J&
w445F36& <¿JB<)&& $3"#1-& 3%%:#--,6$& 36%& .:3,-,6$& 4+#& =0H3I)3J& -+57& F369&
8#34/:#-& 58& 4+#& ,62,%#6431,-4& -491#& %#D#15.#%& ,6& Š:36& 34& 4+#& 4/:6& 58& 4+#& Lh!"'L{!"&
2#64/:,#-J& *+#9& 3:#& %#D54#%& 45& 1,D,6$& +/F36& 0#,6$-M& 0#15D#%-& 7+5& #K,-4& 36%& 4+#&
8##1,6$-&4+#9&%#.,24&3:#&:#31J&*+#,:&2566#24,56&45&2564#F.5:3:9&:#31,4,#-&,-&50D,5/-J&
*+#&.3-4#GF3@#:€-&-+5.M&+,-&:36$#&58&.:5%/24-M&4+#&#88#24&58&4+#&%:/$-&+#&-#11-&3:#&311&
.3:4-& 58& w445F36& #D#:9%39& 1,8#& ,6& 4+#& L{!"& 2#64/:9J& !491,-4,23119M& 4+#-#& $3"#1-& 3:#&
7:,44#6& ,6& 3& -,F.1#& 136$/3$#¿& 4+#9& 132@& 4+#& :+#45:,231& 25F.1#K,49& 36%& 3:4,8,2,31,49&
15D#&$3"#1-&851157,6$&4:3%,4,5631&.344#:6-&#6%#3D5/:&45&3443,6&36%&4+#9&:#19&+#3D,19&
56&4+#&D5230/13:9&58&2564#F.5:3:9&%:/$&2/14/:#J&&
*+5/$+&:#-#3:2+&56&4+#&.5--,01#&,681/#62#&58&4+#&=0B"0C4%(2#ÛIH&56&L{!"&2#64/:9&
w445F36&$3"#1&.5#4:9&+3-&r/-4&0#$/6M&4+#&:#-/14-&,4&+3-&+,4+#:45&9,#1%#%&-/$$#-4&4+34&
4+#&,62,%#6431,-4&-491#&,681/#62#%&4+#&w445F36&1,4#:3:9&-2#6#J&w445F36&3/4+5:-&7#:#&
373:#& 58& 4+#& 6#7& .5#4,2& 4:#6%-& ,6& O#:-,36& .5#4:9& 36%& 4+#& 1,4#:3:9& 2566#24,56-&
0#47##6& 4+#& w445F36& =F.,:#& 36%& Š:36& 7#:#& 654& %,-:/.4#%& 09& 4+#& 3%D#64& 58& 4+#&
!383D,%-&36%&4+#&-#:,#-&58&w445F36'!383D,%&25681,24-J&&

UHH25<9N!
K//84')!6'E%?(!'**,%((%*!/8!/.%!M'(/%c4'C%,!
!

äz4•(
^%,(DrF&Q(=0H3I)3J)#Ã($>$<,J)#Ã(õ09,<)J90=(
Ñ+ÛÛ04%(Q0HQ4%(Q&C%(&',<,J)#Ã(õ09,<)J90=(
^I'"<)$0(C#)J($&,(,&9õ<)([&,>¿<)(Û0QC(+Q#,(
^&)(Ê#C<,4J(É0ÄÄ4J(H0)C&,4C<,J)#Ã(õ09,<)J90=(
g+Q0(=&9Q(&"'&=(0Ã0(¿>,>)&(õ09,<)(2%,r,(
¥Q()%D<,#Ã(Q0HQ4%(¿>,>)4B<,#Ã(õ09,<)J90=(
*&,($&=(+Q(¿>,>)($&f&)(&',<,$0)(2&,=&F(õ0C&,(
P<)(#($%Q$&)(C&)(0)#Ã(Dr-"<,J)#Ã(õ09,<)J90=(
!&,2(#9#ÛQ0,B&)(C#)J('b9Q&,(F&C<)4J(õ<Q(%Q&(
^&)(+(¿IÉ#Ã('&,24%(É+¿4,&-"<,J)#Ã(õ09,<)J90=(
g&,D%'%(Db,$r=(#9#ÛQ0,B&)(C#)J($%,($<9%=<(

!
 ! ({u&

¥Q(DrQr)(C&)(Ê0=F&4%('&õõ<,J)#Ã(õ09,<)J90=(
Ü0,¿#'J)$0($&=4C&4$&=(Û0)(0ÊQ090)(H<¿JÛQ0,#Ã(
¥Q$J(Á<">(À&¿=4%($&,9<4C<,J)#Ã(õ09,<)J90=(
^%,(DrF&Q(=0H3I)3J)#Ã([&fQI'J)#Ã(õ09,<)J90=(
ZÊF#=(0Û0,('#9J(¿&-"<QI'J)#Ã(õ09,<)J90=(
.rQB4%(H<Q&=(%À,&(Û+,Û#=(9+Û(!%B&)$&,(Ó<f$0)(
^r'Cr"r)($r)9<($&D&,(Û0[#'J)#Ã(õ09,<)J90=(
æ#,-0(=0H3I)0=(C&4Ê<9&"(Ä<'4J(H<Q&=(%À,&(C&)(
Ñ+ÛÛ04%(Q0HQ4%(Q&C%)rÃ(CI'J)#Ã(õ09,<)J90=(
!&,2&($&$r=(B%=(#9#ÛQ0,'J)()&$r,(õ<QrÃ('&)rÃ(
X&$%(0)#Ã(Û<=&"4%($%Q43I'J)#Ã(õ09,<)J90=(
g&,D%'rÃ(DbF%('rFrQ=%¿(9+Û(=&3<QJ(BJ[=0Ê0(
X&,(+(¿IÉ#Ã(Ê0=F&4%(3<$I'J)#Ã(õ09,<)J90=(
.<f4%()&2(0ÊFJ)(0À#C(Û0Q=J¿()&$r,(õ<QrÃ($&$r=(
X&$%(+Q(=<f#Ã(f%Q<Q(&C,I'J)#Ã(õ09,<)J90=(
Yb,$%(B%=(H#==<)0(C&ÃF&,(õ0$$J(2r([<9<)J(9+Û(
¥Q$J(Á<">(90¿J)#Ã(QIQI'J)#Ã(õ09,<)J90=(
`"$%(C%,(=0H3I)3J(Ê0,,<($%Q4,rC<(õ09,<)(C&)%(
`9Q&$%(9%)&(Ê#C<,(%Q&(f&2<(9&B'<)(C&)%(
d&¿-(&$&,(9+Û$#,(2%Q<9&"$&(Q&C%(&',<,J)J(
`9Q&$%(õ09,<)J(C%,(=0H3I)3J)#Ã($&2,<)(C&)%(
æ#,-0(=0H3I)(Db,=&B(%'"&,Q&,'&(Ä<'4%(HJ¿Û$0(
Î'"&9r(D&Q'r)(0)#Ã($rBB<)J)0(9<,<)(C&)%(
Yb,$%(B%=(C&,D4%(É0F<)(D%C%($bB&,(90¿J)(DbFr=(
`"$%(-0ËQ4%(DrQ(D%C%(=0H3I)(%Q&(É0)$<)(C&)%(
Á<"%9<(-0,Û(+Q=0F0=(f&,D%F(!%B&)$&,(Ó<f$0)(
*&,(D&3&(=0H3I)J(&9Q&,(H<Q&=&('#QÄ<)(C&)%&
;/}•6•&
YbFr=(Ä#¿(+Q$J(&9Q&,B&)(!%"0)C#Q(%À,&('&9,<)J(
ZÀJQ=J¿(F>)&"(%Q&(C%,(DrF&Q(=0H3I)3J($rBB<)J(
¥"#,=J¿(0)$0(C%,(õ+ÛÛ04$&f&)(9<,(r(=r-&,,%õ4Q&C(
d%(C%,(B&9-%99&"(%Q&(õ+ÛÛ090(Û+9=J¿()%À&(3<)J(
Z)#Ã(õ09,<)QJÊJ)$0)(C&)(BrQ&f(&"=&F$r=(&9(F<f%$(
Yb"r,'&=(C0¿#=(r'"%)$&(Ê#C<,4%(,<f4%(3<)<)J(
Y&,(+Q($%Q4C&,(Q&C%(-%B,%)(&$&,'&=(C&)(D%3&(Dr)$rF(
¥Q#,(C#(É0'"&Q&,(D%C%(0)#Ã(&',<,J(õ09,<)J(
.#H>)>(0ÀJQ#,(DbÃQrÃ(DbFrÃ(C%,(õ0CC&(Ê0=(Û0Q=0F(
È&9r[(=0H3I)(r(C&,¿%)%("&=<¿<(&9Q&'&Ã(0)J(
(
(

!
(N)& !

!s:Ñ:•&
^%,(DrF&Q(=0H3I)3J)#Ã(õ09,<)J(+Q$J(DbÃQr=rF(
Y<f(õ09,<)J(D&f>('&B,<)J(+Q$J(DbÃQr=rF(
m0,=0F(%B&)(&fQ4%(H0,-#=($%9r(?0É"0•Q4Û0QH&•9&(
Yb,&Q%(0)$0('&)%(=%f=<)J(+Q$J(DbÃQr=rF(
Ñ+ÛÛ0(0ÊFJ)$0)(&=r[(&"$%(2%Ë<Q%(-%B,%)%(
^&)D(%Q&9$%(%ÛQ>=rÃ('#QÄ<)J(+Q$J(DbÃQr=rF(
æ0Ã(=J(Bb,(C&)D%(2r(D&ÀD%)(¿b9Q&("%,9<B%(+Q0=(
Ör)B%(+Q(=0H3I)3J)#!(D%,9<)J(+Q$J(DbÃQr=rF(
Ñ+ÛÛ0(0ÊFJ)J(Db,%3&B(9&=&$%)($#"$J(=&D&,(
Ü0,¿#'J)$0(ËI,&"4%(C>43<)J(+Q$J(DbÃQr=rF(
ZÊF#Ã(&',<,J(C%"&,($%Q$&(¿&f<(õ09,<)Q0,0(
m0,(%'&(&',<,#Ã#Ã(CI'"<)J(+Q$J(DbÃQr=rF(
ZÀ0QJ(=0H3I)($rBB<)J)(Û0[0)$J(=&9D&$&(
.&9(9&,%)&(¿%=$%(=0H3I)(B<)J(+Q$J(DbÃQr=rF(
^&)(9&$r=(Ê<Q%C('&)%($#"$J(DbÃrQ(¿<¿$#Ã(Û0"J(
æ0Ã(=J($&,'&=(%QQ&,rÃ('&9,<)J(+Q$J(DbÃQr=rF(
X%Q$&(9<ÛI"4J(=r-&,,%õ$r,(!r,I,>(Àr)(Q&C%(
P&2f&,>(=0H3I)Q0,#Ã($rBB<)J(+Q$J(DbÃQr=rF(
(