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əsNjǣÞŸŘʲǢŗ˚rŗ˚ȕō˚ˠʳ˟˚˟ˡ

ȕǢrNJōŗȕĵ
ŷ¯¯µNjÞ_ǢŸĶNjÝŘɚsNjǼsNj
Ǣŗˢ˟˟˟ɟƻə
Ǣŗˣ˟˟˟ɟƻə
Ǣŗˤ˟˟˟ɟƻə

:KHUHVXQVKLQHG
3RZHUDOZD\VRQ

ōŸŘÞǼŸNjƻƻ^ŸɠŘĶŸ_

Ř_NjŸÞ_ ÝŷǢ

ɠɠɠʳĶȖɮƼŸɠsNjǼsĨʳOŸŎ ÞŘ¯Ÿ˔ĶȖɮƼŸɠsNjǼsĨʳOŸŎ ĵȕɭƻŷɟrNJǻrNËŗŷĵŷµɳNŷʳʰĵǻ^


ǻEĶsŷ¯NŸŘǼsŘǼǣ
ÝŘ¯ŸNjŎǼÞŸŘŸŘǼÌÞǣōŘȖĶ ˟ˠ ˢʳɟŸNjĨÞضōŸ_sǣ ˠˤ

əĶÞ_ÞǼɴ ˟ˠ ˢʳˠŷ¯¯¶NjÞ_ŎŸ_sǣÞŘǼNjŸ_ȖOǼÞŸŘ ˠˤ

ǢOŸƼs ˟ˠ ˢʳˡɟŸNjĨÞضŎŸ_sǣNjsĶǼs_ǣsǼǼÞض_sǣONjÞƼǼÞŸŘ ˠ˦

ǻNj¶sǼµNjŸȖƼ ˟ˠ ˣʳĵN^^ÞǣƼĶɴŘ_ǣsǼǼÞضǣ ˡˠ

Ǣ¯sǼɴÝŘǣǼNjȖOǼÞŸŘǣ ˟ˠ ˣʳˠĵr^^ÞǣƼĶɴ ˡˠ

ˠʳDNjÞs¯ÝŘǼNjŸ_ȖOǼÞŸŘ ˟ˡ ˣʳˡĵN^^ÞǣƼĶɴ ˡˠ

ˠʳˠ®sǼȖNjsǣŸ¯ǼÌsÞŘɚsNjǼsNj ˟ˡ ˣʳˢÝŘɚsNjǼsNjǢǼǼȖǣ^ÞǣƼĶɴ ˡˢ

ˠʳˡÝŘǼsNj¯OsŸ¯ǼÌsÞŘɚsNjǼsNj ˟ˢ ˣʳˣĵN^ǢsǼǼÞضǣ ˡˣ

ˠʳˢƻOĨÞضĶÞǣǼ ˟ˣ ˤʳōŸŘÞǼŸNjǢɴǣǼsŎ¯ŸNjŷ¯¯¶NjÞ_ ˢˠ

ˡʳÝŘǣǼĶĶǼÞŸŘ ˟ˤ ˥ʳǢƼsOÞ¯ÞOǼÞŸŘǣ ˢˡ

ˡʳˠƻNjsƼNjǼÞŸŘ ˟ˤ ˦ʳǻNjŸȖEĶsǢÌŸŸǼÞض˓rNjNjŸNjĵÞǣǼ ˢˤ

ˡʳˡōŸȖŘǼÞضǼÌsȕŘÞǼ ˟˦

ˡʳˢDǼǼsNjɴNŸŘŘsOǼÞŸŘ ˟˧

ˡʳˢʳˠDǼǼsNjɴƻŸɠsNjNEĶsNŸŘŘsOǼÞŸŘ ˟˧

ˡʳˢʳˡĵÞǼÌÞȖŎDǼǼsNjɴNŸŘŘsOǼÞŸŘ ˟˧

ˡʳˣNÝŘƼȖǼˀŷȖǼƼȖǼNŸŘŘsOǼÞŸŘ ˟˨

ˡʳˤƻəNŸŘŘsOǼÞŸŘ ˠ˟

ˡʳ˥µsŘsNjǼŸNjNŸŘŘsOǼÞŸŘ ˠ˟

ˡʳ˦^NjɴNŸŘǼOǼǢÞ¶ŘĶOŸŘǼNjŸĶ ˠˡ

ˡʳ˧ƻNjĶĶsĶ¯ȖŘOǼÞŸŘ ˠˡ

ˡʳ˨ƻŸɠsNjŷŗˀŷ®® ˠˣ
ÝŘ¯ŸNjŎǼÞŸŘŸŘǼÌÞǣōŘȖĶ ˠʳDNjÞs¯ÝŘǼNjŸ_ȖOǼÞŸŘ
əĶÞ_ÞǼɴ ˠʳˠ®sǼȖNjsǣŸ¯ǼÌsÞŘɚsNjǼsNj
ǻÌÞǣŎŘȖĶÞǣɚĶÞ_¯ŸNjǼÌs¯ŸĶĶŸɠÞض_sɚÞOsǣʲǢŗˢ˟˟˟ɟƻəˀǢŗˣ˟˟˟ɟƻəˀǢŗˤ˟˟˟ɟƻə

ÝŘǼsNjŘsǼ ĵȖɮƼŸɠsNjəÞsɠ
ǢOŸƼs ɟÞ¯Þˀˣµ

ǻÌÞǣŎŘȖĶƼNjŸɚÞ_sǣǼÌsÞŘǣǼĶĶǼÞŸŘʰŸƼsNjǼÞŸŘŘ_ǼNjŸȖEĶsǣÌŸŸǼÞضŸ¯ǼÌÞǣȖŘÞǼʰƼĶsǣsNjs_ǼÌÞǣŎŘȖĶ /2*,1

ONjs¯ȖĶĶɴEs¯ŸNjsÞŘǣǼĶĶǼÞŸŘǣŘ_ŸƼsNjǼÞŸŘǣʳ

ǻNj¶sǼµNjŸȖƼ
®ŸNjLJȖĶÞ¯Þs_ƼsNjǣŸŘǣŘ_sŘ_ȖǣsNjǣʳdžȖĶÞ¯Þs_ƼsNjǣŸŘǣŘ_sŘ_ȖǣsNjǣŎȖǣǼÌɚsǼÌs¯ŸĶĶŸɠÞضǣĨÞĶĶǣʲ
ĵȖɮƼŸɠsNjǢsNjɚsNj
ħŘŸɠĶs_¶sEŸȖǼǼÌÞǣȖŘÞǼŸƼsNjǼÞŸŘ ǢŸĶNjƻŘsĶ
ǻNjÞŘÞضÞŘ_sĶɠÞǼÌǼÌsǣsOȖNjÞǼɴÞǣǣȖsǣǣǣŸOÞǼs_ɠÞǼÌÞŘǣǼĶĶǼÞŸŘǣŘ_sĶsOǼNjÞOĶǣ¯sǼɴ

ǻNjÞŘÞضÞŘǼÌsÞŘǣǼĶĶǼÞŸŘŘ_OŸŎŎÞǣǣÞŸŘÞضŸ¯sĶsOǼNjÞOĶ_sɚÞOsǣŘ_ÞŘǣǼĶĶǼÞŸŘǣ

ħŘŸɠĶs_¶sŸ¯ǼÌsƼƼĶÞOEĶsĶŸOĶǣǼŘ_Nj_ǣŘ__ÞNjsOǼÞɚsǣ

Ǣ¯sǼɴÝŘǣǼNjȖOǼÞŸŘǣ ȕǼÞĶÞǼɴµNjÞ_
ËŸŎs
ɟNJŗÝŗµʲǻÌÞǣOÌƼǼsNjOŸŘǼÞŘǣÞŎƼŸNjǼŘǼǣ¯sǼɴŘ_ŸƼsNjǼÞضÞŘǣǼNjȖOǼÞŸŘǣʳNJs_Ř_ĨssƼǼÌÞǣŎŘȖĶ ĵŸ_ǣ
¯ŸNj¯ȖǼȖNjsNjs¯sNjsŘOsʳ

ĶĶǼÌsŸƼsNjǼÞŸŘŘ_OŸŘŘsOǼÞŸŘŘss_ǼŸEsŸƼsNjǼs_EɴLJȖĶÞ¯Þs_ƼsNjǣŸŘǣʳ

Ds¯ŸNjsȖǣÞضǼÌsȖŘÞǼʰNjs_ĶĶÞŘǣǼNjȖOǼÞŸŘǣŘ_OȖǼÞŸŘNjɴŎNjĨÞضŸŘǼÌsȖŘÞǼʳŘɴ_Ŏ¶sOȖǣs_Eɴ
ÞŘƼƼNjŸƼNjÞǼsŸƼsNjǼÞŸŘÞǣŘŸǼɠNjNjŘǼs_EɴĵȖɮƼŸɠsNjʳ
µsŘsNjǼŸNj
ĶĶǼÌssĶsOǼNjÞOĶÞŘǣǼĶĶǼÞŸŘŎȖǣǼOŸŎƼĶɴɠÞǼÌǼÌsĶŸOĶsĶsOǼNjÞOĶǣ¯sǼɴǣǼŘ_Nj_ǣʳ
DǼǼsNjɴ
^ŸŘŸǼ_ÞǣǣǣsŎEĶsǼÌsȖŘÞǼʳǻĨsÞǼǼŸLJȖĶÞ¯Þs_ǣsNjɚÞOsOsŘǼsNjɠÌsŘǣsNjɚÞOsŸNjNjsƼÞNjÞǣNjsLJȖÞNjs_ʰ
ÞŘOŸNjNjsOǼNjs˚ǣǣsŎEĶɴŎɴNjsǣȖĶǼÞŘNjÞǣĨŸ¯sĶsOǼNjÞOǣÌŸOĨŸNj¯ÞNjsʳ^ŸŘŸǼŸƼsŘÞŘɚsNjǼsNjOŸɚsNjŸNjOÌضs ǢŷŗNJǣsNjÞsǣÞǣŎȖĶǼÞ¯ȖŘOǼÞŸŘĶʰÌ޶̯NjsLJȖsŘOɴƼȖNjsǣÞŘsɠɚsŸ¯¯¶NjÞ_ǣŸĶNjÞŘɚsNjǼsNjʰ¯sǼȖNjsǣʲ
ŘɴOŸŎƼŸŘsŘǼǣɠÞǼÌŸȖǼĵȖɮƼŸɠsNj˂ǣȖǼÌŸNjÞʊǼÞŸŘʰŸǼÌsNjɠÞǣsǼÌsɠNjNjŘǼɴOŸŎŎÞǼŎsŘǼ¯ŸNjǼÌsÞŘɚsNjǼsNj
ɠÞĶĶEsÞŘɚĶÞ_ʳ ƼƼĶÞOEĶs¯ŸNjƼȖNjsŸ¯¯¶NjÞ_ˀEOĨȖƼƼŸɠsNjˀǣsĶ¯˚OŸŘǣȖŎƼǼÞŸŘˀŸŘ¶NjÞ_ǣÞǼȖǼÞŸŘ

ǻŸNjs_ȖOsNjÞǣĨŸ¯sĶsOǼNjÞOǣÌŸOĨʰ_ÞǣOŸŘŘsOǼĶĶɠÞNjÞضǣEs¯ŸNjsǼǼsŎƼǼÞضŘɴŎÞŘǼsŘŘOsŸNjOĶsŘÞضʰ ÝŘǼs¶NjǼs_ɠÞǼÌˡōƻƻǻǣŸĶNjOÌNj¶sOŸŘǼNjŸĶĶsNjǣʰōƻƻǻNjضsǣˠˡ˟ə̪ˢ˧ˤə
ǼȖNjŘÞضŸ¯¯ǼÌsȖŘÞǼɠÞĶĶŘŸǼNjs_ȖOsǼÌÞǣNjÞǣĨʳ NJǼs_ƼŸɠsNjˤħɟʰƼŸɠsNj¯OǼŸNjˠ

NȕǻÝŷŗ˚ǻŸNjs_ȖOsNjÞǣĨŸ¯ÞŘĠȖNjɴʰOÌNj¶sŸŘĶɴ_ssƼ˚OɴOĶsĶs_˚OÞ_ǼɴƼsNjsOÌNj¶sEĶsEǼǼsNjÞsǣŘ_ DsEĶsǼŸNjȖŘɠÞǼÌŸNjɠÞǼÌŸȖǼEǼǼsNjɴÞŘŸŘ¶NjÞ_Ř_Ÿ¯¯¶NjÞ_ŎŸ_s
ĶÞǼÌÞȖŎEǼǼsNjÞsǣʰŸǼÌsNjǼɴƼsǣŸ¯EǼǼsNjÞsǣŎɴEȖNjǣǼʰOȖǣÞضƼsNjǣŸŘĶÞŘĠȖNjɴŘ__Ŏ¶sʳ ɟÞǼÌǣsƼNjǼs_¶sŘsNjǼŸNjÞŘƼȖǼÞŘǼsNj¯OsʰEĶsǼŸOŸŘǼNjŸĶ¶sŘsNjǼŸNjNjsŎŸǼsĶɴ
ŗrərNJOÌNj¶s¯NjŸʊsŘEǼǼsNjɴʳ ǢŸĶNjŘ_ȖǼÞĶÞǼɴ¶NjÞ_OŘƼŸɠsNjĶŸ_ǣǼǼÌsǣŎsǼÞŎs
®ŸNjŸƼǼÞŎȖŎŸƼsNjǼÞŸŘŸ¯ǼÌÞǣȖŘÞǼʰƼĶsǣs¯ŸĶĶŸɠNjsLJȖÞNjs_ǣƼsOǼŸǣsĶsOǼƼƼNjŸƼNjÞǼsOEĶsǣÞʊsŘ_ENjsĨsNjʳ ɟÞǼÌÞŘǼs¶NjǼs__ɚŘOs_ƼNjĶĶsĶ¯ȖŘOǼÞŸŘʰȖƼǼŸˠ˟ƼOǣŎɮƼNjĶĶsĶÞض
ƻĶsǣsǣǼNjÞOǼĶɴ¯ŸĶĶŸɠÞŘǣǼĶĶǼÞŸŘƼNjŸOs_ȖNjsɠÌsŘɴŸȖɠŘǼǼŸ_ÞǣOŸŘŘsOǼNŸNj^NǼsNjŎÞŘĶǣʰƼĶsǣsNjs¯sNj ǢȖƼƼŸNjǼNŗˀNJǢˣ˧ˤ¯ŸNjĵÞ˚ÞŸŘEǼǼsNjɴDōǢOŸŎŎȖŘÞOǼÞŸŘ
ǼŸÝŗǢǻĵĵǻÝŷŗǣsOǼÞŸŘŸ¯ǼÌÞǣŎŘȖĶ¯ŸNjǼÌs_sǼÞĶǣʳ
ɟÝ®ÝˀµƻNJǢNjsŎŸǼsŎŸŘÞǼŸNjÞضʰǣsǼǼÞضŘ_¯ÞNjŎɠNjsȖƼ_ǼsʰǣȖƼƼŸNjǼɠsEǣÞǼsʰ¯NjssÝŷǢˀŘ_NjŸÞ_ƻƻ
µNJŷȕŗ^ÝŗµÝŗǢǻNJȕNǻÝŷŗǢ˚ǻÌÞǣȖŘÞǼǣÌŸȖĶ_EsOŸŘŘsOǼs_ǼŸƼsNjŎŘsŘǼ¶NjŸȖŘ_s_ɠÞNjÞضǣɴǣǼsŎʰ
EsǣȖNjsǼŸOŸŎƼĶɴɠÞǼÌĶŸOĶNjsLJȖÞNjsŎsŘǼǣŘ_Njs¶ȖĶǼÞŸŘǼŸÞŘǣǼĶĶǼÌÞǣÞŘɚsNjǼsNjʳ

ŗrərNJOȖǣsNŸȖǼƼȖǼŘ_^NÞŘƼȖǼǣÌŸNjǼOÞNjOȖÞǼs_ʳ^ŸŘŸǼOŸŘŘsOǼǼŸǼÌsŎÞŘǣɠÌsŘ
^NÞŘƼȖǼǣÌŸNjǼOÞNjOȖÞǼǣʳ
˟ˠ ˟ˡ
ˠʳˡÝŘǼsNj¯OsŸ¯ǼÌsÞŘɚsNjǼsNj ˠʳˢƻOĨÞضĵÞǣǼ
Ds¯ŸNjsÞŘǣǼĶĶǼÞŸŘʰƼĶsǣsÞŘǣƼsOǼǼÌsȖŘÞǼʳDsǣȖNjsǼÌǼŘŸǼÌÞضÞŘǣÞ_sǼÌsƼOĨ¶sÞǣ_Ŏ¶s_ʳ
ɳŸȖǣÌŸȖĶ_ÌɚsNjsOsÞɚs_ǼÌs¯ŸĶĶŸɠÞضÞǼsŎǣÞŘǼÌsƼOĨ¶sʲ

ĵN^_ÞǣƼĶɴ

rɮƼŘǣÞŸŘǢONjsɠ NNjŸǣǣËs_
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®ȖĶǼˀɟNjŘÞضǢǼǼȖǣÞŘ_ÞOǼŸNj
ǢǼŸNjÞضǼÌsÝŘɚsNjǼsNj
ŗŸNjŎĶǢǼǼȖǣÞŘ_ÞOǼŸNj
ǻÌsÞŘɚsNjǼsNjŎȖǣǼEsǣǼŸNjs_ƼƼNjŸƼNjÞǼsĶɴÞ¯ŘŸǼÞŘǣǼĶĶs_ÞŎŎs_ÞǼsĶɴʰNjs¯sNjǼŸEsĶŸɠ¯Þ¶ȖNjsʳ

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EʺǻÌsǣǼŸNj¶sǼsŎƼsNjǼȖNjsǣÌŸȖĶ_EsɠÞǼÌÞŘ˚ˡˤ̪˥˟Ř_ÌȖŎÞ_ÞǼɴɠÞǼÌÞŘ˟̪˧ˤ̇ʳ

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¯NjŸŎOŸNjNjŸǣÞŸŘʳ

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OÞ_ŗǻNƼŸNjǼ NÞNjOȖÞǼENjsĨsNj

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rƻǢŸŘˀŸ¯¯ǣɠÞǼOÌ
ƻNjĶĶsĶOŸŎŎȖŘÞOǼÞŸŘƼŸNjǼǣ
DǼǼsNjɴNŗˀNJǢˣ˧ˤ

˟ˢ ˟ˣ
ˡʳÝŘǣǼĶĶǼÞŸŘ ˡʳNOŸŘŘsOǼÞŸŘʲƻĶsǣsÞŘǣǼĶĶǣsƼNjǼsNENjsĨsNjEsǼɠssŘÞŘɚsNjǼsNjŘ_NÞŘƼȖǼƼŸɠsNjǣŸȖNjOsʰ
ÞŘɚsNjǼsNjŘ_NŸȖǼƼȖǼĶŸ_ʳǻÌÞǣɠÞĶĶsŘǣȖNjsǼÌsÞŘɚsNjǼsNjOŘEsǣsOȖNjsĶɴ_ÞǣOŸŘŘsOǼs__ȖNjÞضŎÞŘǼsŘŘOs
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ˡʳˠƻNjsƼNjǼÞŸŘ NJsOŸŎŎsŘ_s_NÞŘƼȖǼˀNŸȖǼƼȖǼˀµrŗOEĶsǣÞʊs¯ŸNjsOÌÞŘɚsNjǼsNjʳ

ǻÌsǣɴǣǼsŎOŸŘŘsOǼÞŸŘÞǣǣEsĶŸɠʲ
ōŸ_sĶ µȖ¶s NEĶsʹŎŎˡʺ ǻŸNjLJȖsəĶȖs
˥˟˟əʰˡˎˠ˟ɟµ ˥˟˟əʰˡˎˠ˟ɟµ
Ǣŗˤ˟˟˟ɟƻə ˠ˟ɟµ ˥ ˠʳˡŗŎ
ĵ dž®ˠ
ŗ µNjÞ_
NÝŘƼȖǼ ˢʳƻəNŸŘŘsOǼÞŸŘʲƻĶsǣsÞŘǣǼĶĶǣsƼNjǼsĶɴ^NOÞNjOȖÞǼENjsĨsNjEsǼɠssŘÞŘɚsNjǼsNjŘ_ƻəŎŸ_ȖĶsǣʳ
ƻr
ǻÌsNjsOŸŎŎsŘ_s_Ÿ¯^NENjsĨsNjÞǣ˥˟˟əˀˡ˟ʳÝǼ˂ǣɚsNjɴÞŎƼŸNjǼŘǼ¯ŸNjǣɴǣǼsŎǣ¯sǼɴŘ_s¯¯ÞOÞsŘǼ
ƻr
ĵ dž®ˠ ŸƼsNjǼÞŸŘǼŸȖǣsƼƼNjŸƼNjÞǼsOEĶs¯ŸNjƻəŎŸ_ȖĶsOŸŘŘsOǼÞŸŘʳǻŸNjs_ȖOsNjÞǣĨŸ¯ÞŘĠȖNjɴʰƼĶsǣsȖǣsǼÌs
ŗ ĵŷ^ rƻǢ ƼNjŸƼsNjNjsOŸŎŎsŘ_s_OEĶsǣÞʊsǣEsĶŸɠʲ
NŷȖǼƼȖǼ
ƻr dž®ˡ
ōŸ_sĶ µȖ¶s NEĶsʹŎŎˡʺ ǻŸNjLJȖsəĶȖs
ˠ˟˟əʰˡˎˣɟµ

ĵ dž®ˠ
Ǣŗˤ˟˟˟ɟƻə ˠɮˠˡɟµ ˣ ˠʳˡŗŎ
µrŗ ŗ µ

Dǻ ƻə µsŘsNjǼsNj ˣʳDs¯ŸNjsOŸŘŘsOǼÞضĶĶɠÞNjÞضʰƼĶsǣsǼĨsŸ¯¯EŸǼǼŸŎOŸɚsNjEɴNjsŎŸɚÞضˢǣONjsɠǣǣǣÌŸɠŘEsĶŸɠʳ


˥˟˟əʰˣˎˠˡɟµ
ōɭʲˠˣ˟

dž®ˢ dž®ˠÝŘ̦˥ˢ
dž®ˡÝŘ̦˥ˢ
dž®ˢÝŘ̦ˠˣ˟
dž®ˡÞǣ^ŸȖEĶsÞŘǼsNjĶŸOĨǣɠÞǼOÌŸNj^ȖĶƻŸɠsNjǢɠÞǼOÌÝŘ̦˥ˢ

ƻĶsǣsƼNjsƼNjsǼÌsENjsĨsNjǣŘ_OEĶsǣÞŘ_ɚŘOs_Es¯ŸNjsÞŘǣǼĶĶǼÞŸŘʳ

ˠʳDǼǼsNjɴOŸŘŘsOǼÞŸŘʲ®ŸNjǣ¯sǼɴŸƼsNjǼÞŸŘŘ_Njs¶ȖĶǼÞŸŘOŸŎƼĶÞŘOsʰÞǼ˂ǣNjsLJȖsǣǼs_ǼŸÞŘǣǼĶĶǣsƼNjǼs
^NŸɚsNj˚OȖNjNjsŘǼƼNjŸǼsOǼŸNjŸNj_ÞǣOŸŘŘsOǼ_sɚÞOsEsǼɠssŘEǼǼsNjɴŘ_ÞŘɚsNjǼsNjʳǻÌsNjsOŸŎŎsŘ_EǼǼsNjɴ
OƼOÞǼɴÞǣˠˤ˟Ë˚ˡ˟˟ËʰǼÌsNjsOŸŎŎsŘ_s_ǣƼsOŸ¯^NENjsĨsNjÞǣˠˤ˟ˀ˥˟əʳNJsOŸŎŎsŘ_s_EǼǼsNjɴOEĶs
Ř_ǼsNjŎÞŘĶǣÞʊsʲ

NJÞضǻsNjŎÞŘĶ
ōɮÞŎȖŎ DǼǼsNjɴ ǻŸNjLJȖsɚĶȖs
ōŸ_sĶ ŎƼsNj¶s OƼOÞǼɴ ɟÞNjsǢÞʊs ^ÞŎsŘǣÞŸŘǣ
NEĶs
ŎŎˡ ^ʹŎŎʺ ĵʹŎŎʺ
ˠˎˡɟµ ˢ˧ ˥ʳˣ ˢ˨ʳˡ
Ǣŗˤ˟˟˟ɟƻə ˠˠ˟ ˡ˟˟Ë ˡ̪ˢŗŎ
ˡˎ˥ɟµ ˡ˧ ˥ʳˣ ˢˢʳˡ

˟ˤ ˟˥
ˡʳˡōŸȖŘǼÞضǼÌsȕŘÞǼ ˡʳˢDǼǼsNjɴNŸŘŘsOǼÞŸŘ
ŗŸǼÞOsʲ NŸŘǣÞ_sNjǼÌs¯ŸĶĶŸɠÞضƼŸÞŘǼǣEs¯ŸNjsǣsĶsOǼÞضɠÌsNjsǼŸÞŘǣǼĶĶʲ
ōŸȖŘǼŸŘǣŸĶÞ_ǣȖNj¯Os
ˡʳˢʳˠDǼǼsNjɴƻŸɠsNjNEĶsNŸŘŘsOǼÞŸŘ
^ŸŘŸǼŎŸȖŘǼǼÌsÞŘɚsNjǼsNjŸŘ¯ĶŎŎEĶsOŸŘǣǼNjȖOǼÞŸŘŎǼsNjÞĶǣʳ ŗŸǼsʲ¯ŸNjĶs_OÞ_EǼǼsNjɴʰǼÌsNjsOŸŎŎsŘ_s_OÌNj¶sOȖNjNjsŘǼÞǣ˟ʳˡNʹNǼŸEǼǼsNjɴOƼOÞǼɴʺ
®ŸNjƼNjŸƼsNjÞNjOÞNjOȖĶǼÞŸŘǼŸ_ÞǣǣÞƼǼsÌsǼʰĶĶŸɠOĶsNjŘOsŸ¯ƼƼNjŸɮʳˡ˟OŎǼŸǼÌsǣÞ_sŘ_ƼƼNjŸɮʳ ˠʳƻĶsǣs¯ŸĶĶŸɠEsĶŸɠǣǼsƼǣǼŸÞŎƼĶsŎsŘǼEǼǼsNjɴOŸŘŘsOǼÞŸŘʲ
ˤ˟OŎEŸɚsŘ_EsĶŸɠǼÌsȖŘÞǼʳ
ˡʳǣǣsŎEĶsEǼǼsNjɴNjÞضǼsNjŎÞŘĶEǣs_ŸŘNjsOŸŎŎsŘ_s_EǼǼsNjɴOEĶsŘ_ǼsNjŎÞŘĶǣÞʊsʳ
ǻÌsŎEÞsŘǼǼsŎƼsNjǼȖNjsǣÌŸȖĶ_EsEsǼɠssŘ˟̨NŘ_ˤˤ̨NǼŸsŘǣȖNjsŸƼǼÞŎĶŸƼsNjǼÞŸŘʳ ˢʳNŸŘŘsOǼĶĶEǼǼsNjɴƼOĨǣǣȖŘÞǼǣNjsLJȖÞNjsǣʳÝǼ˂ǣǣȖ¶¶sǣǼs_ǼŸOŸŘŘsOǼǼĶsǣǼˡ˟˟ÌOƼOÞǼɴEǼǼsNjɴ
ǻÌsNjsOŸŎŎsŘ_s_ÞŘǣǼĶĶǼÞŸŘƼŸǣÞǼÞŸŘÞǣǼŸEs_ÌsNjs_ǼŸǼÌsɠĶĶɚsNjǼÞOĶĶɴʳ ¯ŸNjǢŗˤ˟˟˟ɟƻəʳ
ˣʳÝŘǣsNjǼǼÌsNjÞضǼsNjŎÞŘĶŸ¯EǼǼsNjɴOEĶs¯ĶǼĶɴÞŘǼŸEǼǼsNjɴOŸŘŘsOǼŸNjŸ¯ÞŘɚsNjǼsNjŘ_ŎĨsǣȖNjsǼÌsEŸĶǼǣ
ǢǼsƼǣǼŸŎŸȖŘǼÞضǼÌsȖŘÞǼ NjsǼÞ¶ÌǼsŘs_ɠÞǼÌǼŸNjLJȖsŸ¯ˡ̪ˢŗŎʳōĨsǣȖNjsƼŸĶNjÞǼɴŸ¯ǼÌsEǼǼsNjɴÞǣOŸNjNjsOǼĶɴOŸŘŘsOǼs_Ř_NjÞض
ǢǼsƼˠʳȕǣsǼÌsɠĶĶ˚ŎŸȖŘǼÞضENjOĨsǼǣǼÌsǼsŎƼĶǼsǼŸŎNjĨǼÌsƼŸǣÞǼÞŸŘŸ¯ǼÌsˣÌŸĶsǣʰǼÌsŘ_NjÞĶĶ˧ŎŎ ǼsNjŎÞŘĶǣNjsǼÞ¶ÌǼĶɴǣONjsɠs_ǼŸǼÌsEǼǼsNjɴǼsNjŎÞŘĶǣʳ
ÌŸĶsǣŘ_ŎĨsǣȖNjsǼÌs_sƼǼÌŸ¯ǼÌsÌŸĶsǣÞǣ_ssƼsNjǼÌŘˤ˟ŎŎʳ

ǢǼsƼˡʳÝŘǣǼĶĶǼÌssɮƼŘǣÞŸŘǼȖEsǣÞŘǼŸǼÌsÌŸĶsǣŘ_ǼÞ¶ÌǼǼÌsŎʰǼÌsŘȖǣsǼÌssɮƼŘǣÞŸŘǣONjsɠǣʹƼOĨ¶s_ ˡʳˢʳˡĵÞǼÌÞȖŎDǼǼsNjɴNŸŘŘsOǼÞŸŘ
ǼŸ¶sǼÌsNjɠÞǼÌǼÌssɮƼŘǣÞŸŘǼȖEsǣʺǼŸÞŘǣǼĶĶŘ_¯ÞɮǼÌsɠĶĶ˚ŎŸȖŘǼÞضENjOĨsǼŸŘǼÌsɠĶĶʳ
ݯOÌŸŸǣÞضĶÞǼÌÞȖŎEǼǼsNjɴ¯ŸNjǢŗˤ˟˟˟ɟƻəʰƼĶsǣsŎĨsǣȖNjsǼÌsEǼǼsNjɴDōǢÞǣOŸŎƼǼÞEĶsɠÞǼÌ
ǢǼsƼˢʳÝŘǣǼĶĶǼÌsÞŘɚsNjǼsNjŸŘǼÌsɠĶĶ˚ŎŸȖŘǼÞضENjOĨsǼŘ_ĶŸOĨǼÌsÞŘɚsNjǼsNjȖǣÞضǼÌsǣsOȖNjÞǼɴǣONjsɠǣʳ ĵȖɮƼŸɠsNjÞŘɚsNjǼsNjʳƻĶsǣsOÌsOĨǼÌsOŸŎƼǼÞEĶsĶÞǣǼÞŘǼÌsĵȖɮƼŸɠsNjɠsEǣÞǼsʳ

PP ƻĶsǣs¯ŸĶĶŸɠEsĶŸɠǣǼsƼǣǼŸÞŎƼĶsŎsŘǼĶÞǼÌÞȖŎEǼǼsNjɴOŸŘŘsOǼÞŸŘʲ

ˠʳNŸŘŘsOǼƼŸɠsNjOEĶsEsǼɠssŘÞŘɚsNjǼsNjŘ_EǼǼsNjɴ

ˡʳNŸŘŘsOǼǼÌsNŗŸNjNJǢˣ˧ˤOŸŎŎȖŘÞOǼÞŸŘOEĶsEsǼɠssŘÞŘɚsNjǼsNjŘ_EǼǼsNjɴʳݯɴŸȖ_ŸŘŸǼ¶sǼ
ǼÌsOŸŎŎȖŘÞOǼÞŸŘOEĶs¯NjŸŎÞŘɚsNjǼsNjŎŘȖ¯OǼȖNjsNjŸNjEǼǼsNjɴŎŘȖ¯OǼȖNjsNjʰƼĶsǣsŎĨsǼÌsOEĶs
PP

OOŸNj_ÞضǼŸǼÌsƻÝŗ_s¯ÞŘÞǼÞŸŘ
3LQ
3L
3LQ
LQ ˠ ˡ ˢ ˣ ˤ ˥  
ˢʳĵÞǼÌÞȖŎEǼǼsNjɴOŸŘ¯Þ¶ȖNjǼÞŸŘʰÞŘŸNj_sNjǼŸ ƻÞŘ NJǢˣ˧ˤƼŸNjǼ NŗƼŸNjǼ
OŸŎŎȖŘÞOǼsɠÞǼÌEǼǼsNjɴDōǢʰɴŸȖǣÌŸȖĶ_
ˠ NJǢˣ˧ˤD ˚˚˚
ǣsǼǼÌsEǼǼsNjɴǼɴƼsǼŸˆĵÞ˚ÞŸŘˇÞŘƻNjŸ¶NjŎ
ˆ˟ˢˇEɴĵN^Ř_OÌŸŸǣsǼÌsNjÞ¶ÌǼEǼǼsNjɴ ˡ NJǢˣ˧ˤ ˚˚˚
ENjŘ_ʹ¯ŸNj_sǼÞĶǣʰƼĶsǣsOÌsOĨǼÌsĵN^ ˢ ˚˚˚ Nŗĵ
ˤ˟˟ŎŎ

ǣsǼǼÞضOÌƼǼsNjʺʰȖǣsNjǣOŘĶǣŸOÌŸŸǣsǼÌs
ˣ ˚˚˚ NŗË
EǼǼsNjɴǼɴƼsŘ_ENjŘ_EɴŎŸŘÞǼŸNjǣɴǣǼsŎʳ
ˤˀ˥ ˚˚˚ ˚˚˚

˦ˀ˧ ˚˚˚ ˚˚˚

ÝŘɚsNjǼsNj
ˡ˟˟ŎŎ ˡ˟˟ŎŎ
0337
DǼǼsNjɴƻOĨ

17&

3DUDOOHO
ˤ˟˟ŎŎ

˟˦ ˟˧
ˡʳˣNÝŘƼȖǼˀŷȖǼƼȖǼNŸŘŘsOǼÞŸŘ ˡʳˤƻəNŸŘŘsOǼÞŸŘ
ƻĶsǣs¯ŸĶĶŸɠEsĶŸɠǣǼsƼǣǼŸÞŎƼĶsŎsŘǼƻəŎŸ_ȖĶsOŸŘŘsOǼÞŸŘʲ
NȕǻÝŷŗʵʵ ˠʳNJsŎŸɚsÞŘǣȖĶǼÞŸŘǣĶssɚsˠ˟ŎŎ¯ŸNjƼŸǣÞǼÞɚsŘ_Řs¶ǼÞɚsOŸŘ_ȖOǼŸNjǣʳ
˚ǻÌsNjsNjsǼɠŸǼsNjŎÞŘĶEĶŸOĨǣɠÞǼ̈ÝŗˇŘ_ˆŷȕǻˇŎNjĨÞضǣʳƻĶsǣs_ŸŗŷǻŎÞǣ˚OŸŘŘsOǼÞŘƼȖǼŘ_
ˡʳNÌsOĨOŸNjNjsOǼƼŸĶNjÞǼɴŸ¯OŸŘŘsOǼÞŸŘOEĶs¯NjŸŎƻəŎŸ_ȖĶsǣŘ_ƻəÞŘƼȖǼOŸŘŘsOǼŸNjǣʳ
ŸȖǼƼȖǼOŸŘŘsOǼŸNjǣʳ
ˢʳNŸŘŘsOǼƼŸǣÞǼÞɚsƼŸĶsʹ̛ʺŸ¯OŸŘŘsOǼÞŸŘOEĶsǼŸƼŸǣÞǼÞɚsƼŸĶsʹ̛ʺŸ¯ƻəÞŘƼȖǼOŸŘŘsOǼŸNjʳNŸŘŘsOǼŘs¶ǼÞɚs
˚DsǣȖNjsǼŸOŸŘŘsOǼNɠÞNjsǣɠÞǼÌOŸNjNjsOǼƼŸĶNjÞǼɴʳݯĵŘ_ŗɠÞNjsǣNjsOŸŘŘsOǼs_NjsɚsNjǣsĶɴʰÞǼŎɴ
ƼŸĶsʹ˚ʺŸ¯OŸŘŘsOǼÞŸŘOEĶsǼŸŘs¶ǼÞɚsƼŸĶsʹ˚ʺŸ¯ƻəÞŘƼȖǼOŸŘŘsOǼŸNjʳ
OȖǣsȖǼÞĶÞǼɴǣÌŸNjǼ˚OÞNjOȖÞǼs_ɠÌsŘǼÌsǣsÞŘɚsNjǼsNjǣNjsɠŸNjĨs_ÞŘƼNjĶĶsĶŸƼsNjǼÞŸŘʳ
ˣʳōĨsǣȖNjsǼÌsɠÞNjsǣNjsǣsOȖNjsĶɴOŸŘŘsOǼs_ʳ
ˤʳ®ÞŘĶĶɴʰ¯ǼsNjOŸŘŘsOǼÞضĶĶɠÞNjÞضʰƼĶsǣsƼȖǼEŸǼǼŸŎOŸɚsNjEOĨEɴǣONjsɠÞضǼɠŸǣONjsɠǣǣǣÌŸɠŘEsĶŸɠʳ
ƻĶsǣs¯ŸĶĶŸɠEsĶŸɠǣǼsƼǣǼŸÞŎƼĶsŎsŘǼNÞŘƼȖǼˀŸȖǼƼȖǼOŸŘŘsOǼÞŸŘʲ

ˠʳDs¯ŸNjsŎĨÞضNÞŘƼȖǼˀŸȖǼƼȖǼOŸŘŘsOǼÞŸŘʰEsǣȖNjsǼŸŸƼsŘ^NƼNjŸǼsOǼŸNjŸNj_ÞǣOŸŘŘsOǼs_¯ÞNjǣǼʳ

ˡʳNJsŎŸɚsÞŘǣȖĶǼÞŸŘǣĶssɚsˠ˟ŎŎ¯ŸNjǣÞɮOŸŘ_ȖOǼŸNjǣʳŘ_ǣÌŸNjǼsŘƼÌǣsĵŘ_ŘsȖǼNjĶOŸŘ_ȖOǼŸNjŗˢŎŎʳ

ˢʳÝŘǣsNjǼNÞŘƼȖǼɠÞNjsǣOOŸNj_ÞضǼŸƼŸĶNjÞǼÞsǣÞŘ_ÞOǼs_ŸŘǼsNjŎÞŘĶEĶŸOĨŘ_ǼÞ¶ÌǼsŘǼÌsǼsNjŎÞŘĶǣONjsɠǣʳ
DsǣȖNjsǼŸOŸŘŘsOǼƻrƼNjŸǼsOǼÞɚsOŸŘ_ȖOǼŸNj¯ÞNjǣǼʳ

ˣʳÝŘǣsNjǼNŸȖǼƼȖǼɠÞNjsǣOOŸNj_ÞضǼŸƼŸĶNjÞǼÞsǣÞŘ_ÞOǼs_ŸŘǼsNjŎÞŘĶEĶŸOĨŘ_ǼÞ¶ÌǼsŘǼsNjŎÞŘĶǣONjsɠǣʳ
DsǣȖNjsǼŸOŸŘŘsOǼƻrƼNjŸǼsOǼÞɚsOŸŘ_ȖOǼŸNj¯ÞNjǣǼʳ 39$ 39$ 39% 39% / 1 3( / 1 3( / 1
$&,1387 $&287387 *(1
%$7 %$7
ˤʳō ĨsǣȖNjsǼÌsɠÞNjsǣNjsǣsOȖNjsĶɴOŸŘŘsOǼs_ʳ

ˠ˟

µNjŸȖŘ_ ʹɴsĶĶŸɠ˚¶NjssŘʺ
ˢ
ĵėĵÝŗrʹENjŸɠŘŸNjEĶOĨʺ
ˠ˟
ŗėŗsȖǼNjĶʹEĶȖsʺ
ˢ
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ËɴENjÞ_ōŸ_sˠʹOÌNj¶s¯ÞNjǣǼʺ
ǢŸĶNjƼŸɠsNjɠÞĶĶȖǣs_ǼŸOÌNj¶sEǼǼsNjɴ¯ÞNjǣǼʰ
ˠʳǻÌsǣŸĶNjƼŸɠsNjɠÞĶĶEsȖǣs_ǼŸOÌNj¶sǼÌsEǼǼsNjɴ¯ÞNjǣǼʳNɠÞĶĶǼĨsĶŸ_ʳ
ŗ ˡʳÞ¯ǣŸĶNjƼŸɠsNjÞǣÌÞ¶ÌsNjǼÌŘƼŸɠsNjŘss_ǼŸOÌNj¶sǼÌsEǼǼsNjɴʰǼÌs
ÝŘǼÌsN¯ÞNjǣǼǼÞŎs
sɮǼNjƼŸɠsNjɠÞĶĶȖǣs_ǼŸǼĨsĶŸ_ǼŸ¶ǼÌsNjɠÞǼ̶NjÞ_
ˢʳݯǼÌsNjsÞǣǣǼÞĶĶŎŸNjssŘsNj¶ɴ¯ǼsNjOÌNj¶sEǼǼsNjɴŘ_ǼĨsǼÌsĶŸ_ʰ
ÞǼɠÞĶĶ¯ss_sŘs¶NjɴÞŘǼŸ¶NjÞ_Þ¯sɮƼŸNjǼǼŸ¶NjÞ_¯ȖŘOǼÞŸŘÞǣsŘEĶs_

ËɴENjÞ_ōŸ_sˠʹOÌNj¶s¯ÞNjǣǼʺ̛NOÌNj¶sEǼǼsNjɴÞ¯ǣŸĶNjƼŸɠsNjÞǣ
NOÌNj¶sOONjŸ_ÞضǼŸǻÞŎs
ŘŸǼsŘŸȖ¶ÌǼŸOÌNj¶sEǼǼsNjɴ
ƻə˓NǻĨsĵŸ_
ğŸÞŘǼĶɴrŘEĶs rŘEĶsNOÌNj¶sŘ_ÞŘǼÌsNOÌNj¶sǼÞŎs ËɴENjÞ_ōŸ_sˠʹOÌNj¶s¯ÞNjǣǼʺ̛NOÌNj¶sEǼǼsNjɴÞ¯ǣŸĶNjƼŸɠsNjÞǣŘŸǼ
NOÌNj¶sOONjŸ_ÞضǼŸ sŘŸȖ¶ÌǼŸOÌNj¶sEǼǼsNjɴŘ_ǼÌsEǼǼsNjɴɚŸĶǼ¶sˀǢŷNÞǣĶŸɠsNjǼÌŘN
NŘŸNjŎĶ EǼǼsNjɴɚŸĶǼ¶sŸNjǢŷN ǣǼNjǼOÌNj¶sɚŸĶǼ¶sˀǢŷNʰǼÌsNɠÞĶĶǣǼŸƼOÌNj¶ÞضɠÌsŘǼÌsEǼǼsNjɴ
əŸĶǼ¶sˀǢŷNÞǣÌÞ¶ÌsNjǼÌŘNsŘ_OÌNj¶sEǼǼsNjɴɚŸĶǼ¶sˀǢŷN

ËɴENjÞ_ōŸ_sˡʹĶŸ_¯ÞNjǣǼʺ
ǢŸĶNjƼŸɠsNjɠÞĶĶȖǣs_ǼŸǼĨsĶŸ_¯ÞNjǣǼʰ
ˠʳŗŸǼÞŘǼÌsN¯ÞNjǣǼǼÞŎsŘ_ ˠʳÞ¯ǣŸĶNjƼŸɠsNjÞǣĶŸɠsNjǼÌŘĶŸ_ʰEǼǼsNjɴɠÞĶĶ_ÞǣOÌNj¶sǼŸ¶sǼÌsNjǼŸ
ˡʳ^ÞǣEĶsNOÌNj¶sŸNjŘŸǼÞŘǼÌsNOÌNj¶sǼÞŎs ŗ ǼĨsĶŸ_ȖŘǼÞĶEǼǼsNjɴĶŸɠsNjǼÌŘrŷ^ɚŸĶǼ¶sˀǢŷN
ˡʳÞ¯ǣŸĶNjƼŸɠsNjÞǣÌÞ¶ÌsNjǼÌŘĶŸ_ʰǼÌssɮǼNjƼŸɠsNjɠÞĶĶȖǣs_ǼŸOÌNj¶s
EǼǼsNjɴʰÞ¯ǼÌsNjsÞǣǣǼÞĶĶŎŸNjssŘsNj¶ɴʰÞǼɠÞĶĶ¯ss_ÞŘǼŸ¶NjÞ_Þ¯sŘEĶssɮƼŸNjǼ

DɴƼǣǣōŸ_s
ÝŘǼÌsN¯ÞNjǣǼǼÞŎs ŗ
NɠÞĶĶǼĨsǼÌsĶŸ_Ř_ǢŸĶNjÞǣȖǣs_ǼŸOÌNj¶sEǼǼsNjɴ

DɴƼǣǣōŸ_s̛NOÌNj¶sEǼǼsNjɴ
ǢŸĶNjÞǣȖǣs_ǼŸOÌNj¶sEǼǼsNjɴ
NOÌNj¶sOONjŸ_ÞضǼŸǻÞŎs
NɠÞĶĶǼĨsĶŸ_Ř_ĶǣŸOÌNj¶sEǼǼsNjɴ_ȖNjÞضNOÌNj¶sǼÞŎs
Þ¯ǣŸĶNjƼŸɠsNjÞǣŘŸǼsŘŸȖ¶Ì
rŘEĶsNOÌNj¶sŘ_ÞŘǼÌsNOÌNj¶sǼÞŎs
ƻə˓NǻĨsĵŸ_ DɴƼǣǣōŸ_s̛NOÌNj¶sEǼǼsNjɴ
ğŸÞŘǼĶɴ^ÞǣEĶs ǢŸĶNjÞǣȖǣs_ǼŸOÌNj¶sEǼǼsNjɴ
NOÌNj¶sOONjŸ_ÞضǼŸ NɠÞĶĶǼĨsĶŸ_Ř_ĶǣŸOÌNj¶sEǼǼsNjɴɠÌsŘEǼǼsNjɴǢŷNˀəŸĶ¶sÞǣ
ǢŷNˀDǼǼsNjɴɚŸĶǼ¶s
ĶŸɠsNjǼÌŘǣǼNjǼǢŷNˀəŸĶǼ¶sʰŘ_ǼÌsNɠÞĶĶǣǼŸƼOÌNj¶ÞضɠÌsŘǼÌs
EǼǼsNjɴəŸĶǼ¶sˀǢŷNÞǣÌÞ¶ÌsNjǼÌŘNsŘ_OÌNj¶sEǼǼsNjɴɚŸĶǼ¶sˀǢŷN

ŷ¯¯¶NjÞ_ŎŸ_s
ˠʳŗŸǼÞŘǼÌsN¯ÞNjǣǼǼÞŎsŘ_ Þ¯ƻ̬ǢŸĶNj̤̠ƻ̬ĶŸ_ʰǣŸĶNjÞǣȖǣs_ǼŸǼĨsĶŸ_Ř_OÌNj¶sEǼǼsNjɴ
ˡʳ^ÞǣEĶsNOÌNj¶sŸNjŘŸǼÞŘǼÌsNOÌNj¶sǼÞŎs ŗ Þ¯ƻ̬ǢŸĶNj̣ƻ̬ĶŸ_ʰǣŸĶNjŘ_EǼǼsNjɴǼĨsǼÌsĶŸ_ǼŸ¶sǼÌsNjʰǣɴǣǼsŎɠÞĶĶ
_ÞǣOÌNj¶sȖŘǼÞĶEǼǼsNjɴĶŸɠsNjǼÌŘrŷ^əŸĶǼ¶sˀǢŷN

ˠ˦ ˠ˧
ˠʳǢŷŗNJOŘɠŸNjĨǣǼNj_ÞǼÞŸŘĶŸ¯¯¶NjÞ_ÞŘɚsNjǼsNjŸNjǣÌɴENjÞ_ÞŘɚsNjǼsNjʳɟÌsŘ_ÞǣEĶsƻə˓N ˢʳˠN®ÞNjǣǼʲ^ȖNjÞضǼÌÞǣǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsNǼŸǼĨsĶŸ_ʰȖǣsǣŸĶNjƼŸɠsNjǼŸOÌNj¶sǼÌsEǼǼsNjɴ
ǻĨsĶŸ_ğŸÞŘǼĶɴʰÞǼɠÞĶĶɠŸNjĨǣǼNj_ÞǼÞŸŘĶŸ¯¯¶NjÞ_ÞŘɚsNjǼsNjʰŸǼÌsNjɠÞǣsÞǼɠÞĶĶɠŸNjĨǣÌɴENjÞ_ ¯ÞNjǣǼʳݯǼÌsNjsÞǣsɮǼNjǣŸĶNjƼŸɠsNjʰsɮǼNjǣŸĶNjƼŸɠsNjɠÞĶĶǼĨsǼÌsĶŸ_ʳɟÌsŘŸȖǼŸ¯ǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎ
ËɴENjÞ_ǢsǼǼÞض
ɠÞĶĶȖǣsǣŸĶNjŘ_EǼǼsNjɴǼŸǼĨsĶŸ_¯ÞNjǣǼȖŘǼÞĶǼÌsEǼǼsNjɴɚŸĶǼ¶sˀǢŷNÞǣĶŸɠsNjǼÌŘŷصNjÞ_rŷ^ǣsǼǼÞضǣʰ
ƻə˓NǻĨsĵŸ_ğŸÞŘǼĶɴ rŘEĶs ^ÞǣEĶs ^ÞǣOÌNj¶sNȖNjNjsŘǼĵÞŎÞǼ ˢ˟˟ ǢsǼ ǼÌsŘÞǼɠÞĶĶȖǣsNǼŸǼĨsǼÌsĶŸ_ʳ

rɮƼŸNjǼǼŸµNjÞ_ rŘEĶs ^ÞǣEĶs rɮƼŸNjǼƻŸɠsNjƻsNjOsŘǼʹ̇ʺ ˟ ǢsǼ ^ÞǣOÌNj¶sǢsǼǼÞض


^ÞǣOÌNj¶sNŸŘǼNjŸĶ OOŸNj_ÞضǼŸǢN ǢsǼ

DǼǼsNjɴɟNjŘÞضəŸĶǼ¶s ˣˣ ǢsǼ DǼǼsNjɴɟNjŘÞضǢŷN ˡ˟ ǢsǼ


ˡʳɟŸNjĨÞضǣǼNj_ÞǼÞŸŘĶŸ¯¯¶NjÞ_ÞŘɚsNjǼsNjʳÝŘǼÌÞǣǣÞǼȖǼÞŸŘʰÞŘɚsNjǼsNjsÞǼÌsNjȖǣsʹǣŸĶNj̛EǼǼsNjɴʺǼŸǼĨsĶŸ_
ŸNjȖǣsNǼĨsĶŸ_ʳNJsĶǼs_ǣsǼǼÞضǣ DǼǼsNjɴɟNjŘÞضNJsOŸɚsNjɴəŸĶǼ¶s ˣ˥ ǢsǼ DǼǼsNjɴɟNjŘÞضNJsOŸɚsNjɴǢŷN ˥˟ ǢsǼ

ƼƼĶÞOǼÞŸŘǢsǼǼÞض ^ÞǣOÌNj¶sNȖǼ˚Ÿ¯¯əŸĶǼ¶s ˣˤ ǢsǼ ^ÞǣOÌNj¶sNȖǼ˚Ÿ¯¯ǢŷN ˠˤ ǢsǼ

rƻǢəŸĶǼ¶sǢsǼʹəʺ ˡˢ˟ ǢsǼ rƻǢ®NjsLJȖsŘOɴǢsǼʹËʊʺ ˤ˟ ǢsǼ


ŷصNjÞ_rŷ^əŸĶǼ¶sʹəʺ ˤ˥ ǢsǼ ŷصNjÞ_rŷ^ǢŷNʹ̇ʺ ˢ˟ ǢsǼ

NÝŘƼȖǼNJضs ˟ʲƻĵʹȕǼÞĶÞǼɴNJضs˨˟ ǢsǼ

N®ÞNjǣǼ
N¯ÞNjǣǼǢǼNjǼǻÞŎsˠ ˟˟ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼǢǼNjǼǻÞŎsˡ ˠˣ ʲ ˢ˟ ǢsǼ N¯ÞNjǣǼǢǼNjǼǻÞŎsˢ ˠ˥ ʲ ˢ˟ ǢsǼ
ˢʳˡrɮƼŸNjǼǼŸµNjÞ_ˀrɮƼŸNjǼƻŸɠsNjƼsNjOsŘǼʲȕǣsNjǣOŘĶǣŸsŘEĶssɮƼŸNjǼ¯ȖŘOǼÞŸŘʰÞǼÞǣĶĶŸɠs_Ř_ǣsǼsɮƼŸNjǼ
N¯ÞNjǣǼrŘ_ǻÞŎsˠ ˠˡ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼrŘ_ǻÞŎsˡ ˠˤ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼrŘ_ǻÞŎsˢ ˠ˥ ʲ ˣ˟ ǢsǼ
ƼŸɠsNjƼsNjOsŘǼ
NNÌNj¶s

NNÌNj¶s OOŸNj_ÞضǼŸ˧ ǢsǼ NNÌNj¶sDǼǼsNjɴNȖNjNjsŘǼʹʺ ˢ˟ ǢsǼ


N®ÞNjǣǼʲ^ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsNǼŸǼĨsĶŸ_¯ÞNjǣǼʰȖǣsǣŸĶNjƼŸɠsNjǼŸOÌNj¶sǼÌsEǼǼsNjɴʳ ^ÞǣEĶs
NNÌNj¶sǢǼNjǼǻÞŎsˠ ˟˟ ʲ ˟˟ ǢsǼ
OOŸNj_ÞضǼŸǻÞŎs NNÌNj¶sǢǼNjǼǻÞŎsˡ ˟˟ ʲ ˟˟ ǢsǼ NNÌNj¶sǢǼNjǼǻÞŎsˢ ˠ˥ ʲ ˢ˟ ǢsǼ
ݯǼÌsEǼǼsNjɴÞǣ¯ȖĶĶʰǣŸĶNjƼŸɠsNjŎɴEsɠǣǼs_ʳɟÌsŘŸȖǼŸ¯ǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsEǼǼsNjɴŘ_ OOŸNj_ÞضǼŸDǼǼsNjɴəŸĶǼ¶sɠÌsŘŘŸǣŸĶNj
OOŸNj_ÞضǼŸDǼǼsNjɴǢŷNɠÌsŘŘŸǣŸĶNj
ǣŸĶNjǼŸǼĨsĶŸ_ȖŘǼÞĶEǼǼsNjɴɚŸĶǼ¶sˀǢŷNÞǣĶŸɠsNjǼÌŘOȖǼŸ¯¯ɚŸĶǼ¶sˀǢŷN NNÌNj¶srŘ_ǻÞŎsˠ ˡˢ ʲ ˟˟ ǢsǼ NNÌNj¶srŘ_ǻÞŎsˡ ˟˟ ʲ ˟˟ ǢsǼ NNÌNj¶srŘ_ǻÞŎsˢ ˠ˥ ʲ ˣ˟ ǢsǼ

^ÞǣOÌNj¶sǢsǼǼÞض NNÌNj¶sǢǼNjǼDǼǼsNjɴəŸĶǼ¶sʹəʺ ˣ˥ʳˣ ǢsǼ NNÌNj¶srŘ_DǼǼsNjɴəŸĶǼ¶sʹəʺ ˣ˧ ǢsǼ

^ÞǣOÌNj¶sNŸŘǼNjŸĶ OOŸNj_ÞضǼŸǢN ǢsǼ NNÌNj¶sǢǼNjǼDǼǼsNjɴǢŷNʹ̇ʺ ˡ˟ ǢsǼ NNÌNj¶srŘ_DǼǼsNjɴǢŷNʹ̇ʺ ˠ˟˟ ǢsǼ

DǼǼsNjɴɟNjŘÞضəŸĶǼ¶s ˣˣ ǢsǼ DǼǼsNjɴɟNjŘÞضǢŷN ˡ˟ ǢsǼ

DǼǼsNjɴɟNjŘÞضNJsOŸɚsNjɴəŸĶǼ¶s ˣ˥ ǢsǼ DǼǼsNjɴɟNjŘÞضNJsOŸɚsNjɴǢŷN ˥˟ ǢsǼ ˢʳˢNNÌNj¶s¯ȖŘOǼÞŸŘ^ÞǣEĶsʲǻÌsǣɴǣǼsŎɠÞĶĶŘŸǼȖǣsNǼŸOÌNj¶sǼÌsEǼǼsNjɴʹsɮOsƼǼĵÞÞŸŘDōǢǣsǼ


¯ŸNjOsOÌNj¶s¯Ķ¶ʺ
^ÞǣOÌNj¶sNȖǼ˚Ÿ¯¯əŸĶǼ¶s ˣˤ ǢsǼ ^ÞǣOÌNj¶sNȖǼ˚Ÿ¯¯ǢŷN ˠˤ ǢsǼ
OOŸNj_ÞضǼŸǻÞŎsʲ^ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsNǼŸOÌNj¶sǼÌsEǼǼsNjɴȖŘǼÞĶEǼǼsNjɴ¯ȖĶĶŘ_
ŷصNjÞ_rŷ^əŸĶǼ¶sʹəʺ ˤ˥ ǢsǼ ŷصNjÞ_rŷ^ǢŷNʹ̇ʺ ˢ˟ ǢsǼ EǼǼsNjɴɠÞĶĶŘŸǼ_ÞǣOÌNj¶s_ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʳ

OOŸNj_ÞضǼŸDǼǼsNjɴəŸĶǼ¶sʲ^ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsNǼŸOÌNj¶sǼÌsEǼǼsNjɴÞ¯EǼǼsNjɴ

ˢʳɟŸNjĨÞضǣÌɴENjÞ_ÞŘɚsNjǼsNj ɚŸĶǼ¶sÞǣĶŸɠsNjǼÌŘNNÌNj¶sǢǼNjǼDǼǼsNjɴəŸĶǼ¶sŘ_ɠÞĶĶǣǼŸƼɠÌsŘəŸĶǼ¶sÞǣÌÞ¶ÌsNjǼÌŘNNÌNj¶s

NJsĶǼs_ǣsǼǼÞضǣ rŘ_DǼǼsNjɴəŸĶǼ¶sʳŘ_EǼǼsNjɴɠÞĶĶŘŸǼ_ÞǣOÌNj¶s_ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʳ

OOŸNj_ÞضǼŸDǼǼsNjɴǢŷNʲ^ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʰǣɴǣǼsŎɠÞĶĶȖǣsNǼŸOÌNj¶sǼÌsEǼǼsNjɴÞ¯EǼǼsNjɴǢŷN
ƼƼĶÞOǼÞŸŘǢsǼǼÞض
ÞǣĶŸɠsNjǼÌŘNNÌNj¶sǢǼNjǼDǼǼsNjɴǢŷNŘ_ɠÞĶĶǣǼŸƼɠÌsŘəŸĶǼ¶sÞǣÌÞ¶ÌsNjǼÌŘNNÌNj¶srŘ_DǼǼsNjɴ
rƻǢəŸĶǼ¶sǢsǼʹəʺ ˡˢ˟ ǢsǼ rƻǢ®NjsLJȖsŘOɴǢsǼʹËʊʺ ˤ˟ ǢsǼ
ǢŷNʳŘ_EǼǼsNjɴɠÞĶĶŘŸǼ_ÞǣOÌNj¶s_ȖNjÞضǼÌsǣsǼǼÞضǼÞŎsʳ
NÝŘƼȖǼNJضs ˟ʲƻĵʹȕǼÞĶÞǼɴNJضs˨˟ ǢsǼ

N®ÞNjǣǼ
N¯ÞNjǣǼǢǼNjǼǻÞŎsˠ ˟˟ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼǢǼNjǼǻÞŎsˡ ˠˣ ʲ ˢ˟ ǢsǼ N¯ÞNjǣǼǢǼNjǼǻÞŎsˢ ˠ˥ ʲ ˢ˟ ǢsǼ

N¯ÞNjǣǼrŘ_ǻÞŎsˠ ˠˡ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼrŘ_ǻÞŎsˡ ˠˤ ʲ ˟˟ ǢsǼ N¯ÞNjǣǼrŘ_ǻÞŎsˢ ˠ˥ ʲ ˣ˟ ǢsǼ

ˠ˨ ˡ˟
ˣʳĵN^_ÞǣƼĶɴŘ_ǣsǼǼÞضǣ ŗŸʳ ^sǣONjÞƼǼÞŸŘ NJsŎNjĨǣ

ˣʳˠĵr^^ÞǣƼĶɴ ǻÌÞǣNjsɠÞĶĶ_ÞǣƼĶɴǼÌsOȖNjNjsŘǼĶɴǼÞŎsˀ_ǼsEɴ_s¯ȖĶǼʹɴsNjˀ
ŎŸŘǼÌˀ_ɴˀÌŸȖNjˀŎÞŘȖǼsˇǣɠÞǼOÌÞضȖǼŸŎǼÞOĶĶɴʺʳɟÌsŘƼNjsǣǣ
µsŘsNjĶĶɴÝŘ¯ŸNjŎǼÞŸŘ ȕƼŸNj^ŸɠŘEȖǼǼŸŘǣʰǼÌÞǣNjsɠÞĶĶ_ÞǣƼĶɴǼÌs¯ÞNjŎɠNjsɚsNjǣÞŸŘ
ˠ
^ÞǣƼĶɴNjs ÞŘ¯ŸNjŎǼÞŸŘʰǣsNjÞĶŘȖŎEsNjsǼOʳ^ÞǣƼĶɴǼÌsǣsǼǼÞضǣsĶsOǼÞŸŘ
ĵr^ÝŘ_ÞOǼŸNj ōsǣǣ¶sǣ
ÞŘ¯ŸNjŎǼÞŸŘɠÌsŘsŘǼsNjÞضǣsǼǼÞضǣ

ǢŸĶÞ_ŷŘ ɟŸNjĨÞضŘŸNjŎĶ
ŷŘ˚¶NjÞ_ǣŸĶNjÞŘɚsNjǼsNjŸȖǼƼȖǼ ǻÌÞǣNjsǣÌŸɠǣǼÌs_ǼŸ¯ƻəɚŸĶǼ¶sʰƼŸɠsNjŘ_ǼÌsǣsǼǼÞض
ˠ µNjssŘ ˡ
¯ǣǼʲɟNjŘÞض ƼŸɠsNjŘ_sŘsNj¶ɴ_Ǽ Ÿ¯ƻəÞŘƼȖǼOŸŘŘsOǼÞŸŘÞŘ¯ŸNjŎǼÞŸŘ
®ĶǣÌÞض
ǣĶŸɠʲ®ÞNjŎɠNjsȖƼ_Ǽs
ǻÌÞǣNjsǣÌŸɠǣǼÌsEǼǼsNjɴǼɴƼsʰEǼǼsNjɴENjŘ_ʹĶÞǼÌÞȖŎEǼǼsNjɴʺʰ
®ȖĶǼOŸŘ_ÞǼÞŸŘŸOOȖNjǣ
ˡ NJs_ ®ĶǣÌÞض ǼÌsĶs_˚OÞ_EǼǼsNjɴǣsǼǼÞضŸ¯NəɚŸĶǼ¶sʰ®ĶŸǼÞضOÌNj¶Þض
ÞŘǼÌsÞŘɚsNjǼsNj ˢ DǼǼsNjɴÞŘ¯ŸNjŎǼÞŸŘŘ__Ǽ
ɚŸĶǼ¶sʰNȖǼŸ¯¯ɚŸĶǼ¶sʰ^ÞǣOÌNj¶ssŘ_ɚŸĶǼ¶sʳŘ__ÞǣƼĶɴǼÌs
ɚŸĶǼ¶sʰǢŷNŘ_ƼŸɠsNjÞŘǼȖNjŘǣŸ¯ƼsNjÞŸ_Ÿ¯ˠǣsOŸŘ_ǣ

ǻÌsNjsNjsǼÌNjssǼɴƼsŸ¯ɠŸNjĨÞضǣǼǼȖǣ˚ŘŸNjŎĶʰɠNjŘÞضŘ_
ˠ ˡ ǢɴǣǼsŎɠŸNjĨÞضǣǼǼȖǣ ¯ȖĶǼʰÞŘNjÞ¶ÌǼǣÞ_sŸ¯ǼÌÞǣNjsʰǼÌsNjsNjsOŸ_s_ÞǣƼĶɴʰÞǼɠÞĶĶ
ˣ
ˀǣsǼǼÞضOŸ_s _ÞǣƼĶɴ_Þ¯¯sNjsŘǼǼɴƼsŸ¯OŸ_s˚ǼÌsǣɴǣǼsŎɠŸNjĨÞضŎŸ_sOŸ_sʰ
ɠNjŘÞضOŸ_sʰ¯ȖĶǼOŸ_sŘ_ǣsǼǼÞضOŸ_s

ȕƻǢˀrƻǢŸȖǼƼȖǼ ɟÌsŘȕƻǢ¯ȖŘOǼÞŸŘÞǣsŘEĶs_ʰǼÌÞǣNjsɠÞĶĶ_ÞǣƼĶɴȕƻǢɚŸĶǼ¶sʰ
ˤ
ÞŘ¯ŸNjŎǼÞŸŘŘ__Ǽ ¯NjsLJȖsŘOɴʰƼŸɠsNjsǼOʳÞŘǼȖNjŘǣŸ¯ƼsNjÞŸ_ǣŸ¯ˠǣ

ˣʳˡĵN^^ÞǣƼĶɴ ɟÌsŘ¯ÞNjŎɠNjsȖƼ_ǼÞضÞŘƼNjŸOsǣǣʰÞǼɠÞĶĶ_ÞǣƼĶɴNjsĶsɚŘǼ
ƻNjŸ¶NjŎŎÞض˓ǼÌsƼsNjOsŘǼ¶s
˥ ÞŘ¯ŸNjŎǼÞŸŘɟÌsŘÞضNjÞ_Ÿ¯¯ʰǼÌÞǣNjsɠÞĶĶ_ÞǣƼĶɴǼÌs
Ÿ¯NŸȖǼƼȖǼƼŸɠsNj
ƻsNjOsŘǼ¶sŸ¯ǼÌsŎɮÞŎȖŎNŸȖǼƼȖǼƼŸɠsNj

˦ ĵŸ_ǣOŸŘǣȖŎƼǼÞŸŘ ^ÞǣƼĶɴǼÌsƼŸɠsNjOŸŘǣȖŎƼǼÞŸŘEɴǼÌsĶŸ_ǣÞŘŸŘ¶NjÞ_ŎŸ_sĶ

^ÞǣƼĶɴǼÌs¶NjÞ_ʹµNJÝ^ʺÞŘ¯ŸNjŎǼÞŸŘŸ¯ɚŸĶǼ¶sʰ¯NjsLJȖsŘOɴʰ
µNjÞ_ÞŘ¯ŸNjŎǼÞŸŘŘ_
˧ ÞŘƼȖǼŸNjŸȖǼƼȖǼƼŸɠsNjʰǼÌsµsŘsNjǼŸNjʹµNJÝ^DʺÞŘ¯ŸNjŎǼÞŸŘŸ¯
µsŘsNjǼŸNjÞŘ¯ŸNjŎǼÞŸŘ
ɚŸĶǼ¶sʰ¯NjsLJȖsŘOɴʰÞŘƼȖǼƼŸɠsNjʰǣɠÞǼOÌƼsNjÞŸ_Ÿ¯ˠǣ

ɟÌsŘŎĨsǣsǼǼÞضǣŸŘǼÌsǢŗˤ˟˟˟ÞŘɚsNjǼsNjǼÌNjŸȖ¶ÌǼÌs
ĵN^ʰǼÌÞǣNjsɠÞĶĶ_ÞǣƼĶɴǼÌsNNÌNj¶sʰ®ŸNjOs^ÞǣOÌNj¶sʰ
˨ ɟŸNjĨÞضŎŸ_sǣsǼǼÞضǣNjs
NÌNj¶s®ÞNjǣǼŸƼǼÞŸŘ¯ŸNjǣsǼǼÞضŸŘǼÌŸǣsɠŸNjĨÞضŎŸ_sǣʳÝǼɠÞĶĶ
ŘŸǼ_ÞǣƼĶɴǼÌŸǣsÞŘ¯ŸNjŎǼÞŸŘȖŘĶsǣǣÞŘǼÌsǣsǼǼÞضƼNjŸOsǣǣʳ

ˡˠ ˡˡ
ˣʳˢÝŘɚsNjǼsNjǢǼǼȖǣ^ÞǣƼĶɴ ˣʳˣĵN^ǢsǼǼÞضǣ

ŗŸNjŎĶǣǼǼȖǣʰNjȖŘŘÞضǣǼǼȖǣˣ˟ ɟNjŘÞضǢǼǼȖǣʰɠNjŘÞضˡ˨

ǻÌsNjsNjs¯ŸȖNjEȖǼǼŸŘǣŸŘǼÌsĵN^ʳǢǼsƼ¯ŸNjǣsǼǼÞضǣEɴ
ǼÌs_ÞǣƼĶɴʲ
ǢǼsƼˠʲ¯ǼsNjǼŸȖOÌrŘǼsNjEȖǼǼŸŘ¯ŸNjEŸȖǼˡǣsOŸŘ_ǣʰ
ǼÌsȖŘÞǼɠÞĶĶsŘǼsNjǣsǼǼÞضŎŸ_sʳǻÌsǣsǼǼÞض
ÞOŸŘŘ_ÞŘ_sɮɠÞĶĶ¯ĶǣÌÞضʳ
ǢǼsƼˡʲǻŸȖOÌȕƻŸNj^ŸɠŘEȖǼǼŸŘǼŸǣsĶsOǼǣsǼǼÞضÞŘ_sɮ
¯NjŸŎˠǼŸˠ˨ʳ
ǢǼsƼˢʲǻÌsŘǼŸȖOÌrŘǼsNjEȖǼǼŸŘǼŸǣsǼǼÌÞǣÞǼsŎ
ǢǼsƼˣʲǻŸȖOÌȕƻŸNj^ŸɠŘEȖǼǼŸŘǼŸOÌضsǼÌsǣsǼǼÞضǣ
ǢǼsƼˤʲǻŸȖOÌrŘǼsNjǼŸOŸŘ¯ÞNjŎǼÌsǣsǼǼÞضŸNjNJsǼȖNjŘǼÌsǣsǼǼÞضĶÞǣǼÞǣǣEsĶŸɠ

ÝŘ_sɮ ^sǣONjÞƼǼÞŸŘ ǢsǼǼÞضŷƼǼÞŸŘ

ǢsǼǼÞضɳsNjˀōŸŘǼÌˀ_ɴ

ˠ ^Ǽs˓ǼÞŎs ǢsǼǼÞضÌŸȖNjˀŎÞŘȖǼsˀǣsOŸŘ_

^s¯ȖĶǼʲǢ
ǢʲǼɠŸÞŘ_sƼsŘ_sŘǼ
ǢǼNjÞضǣÞŘƼȖǼ

ˡ ƻəÞŘƼȖǼŎŸ_s
ƻʲǢŎsǣǼNjÞضÞŘƼȖǼ
¯ŸNjˡōƻƻǻǣ

_Oʲ^NǣŸȖNjOsÞŘƼȖǼ

ˡˢ ˡˣ
NJȖŘɠÞǼÌŗŸDǼǼsNjɴʲ
ǢǼsƼˠʲNÌŸŸǣsEǼǼsNjɴǼɴƼs¯ÞNjǣǼʰɠÌsŘŘŸ¯ĶǣÌÞضʰ
ǣsĶsOǼrŘǼsNjǼŸOÌŸŸǣsNJȖŘɠÞǼÌŗŸEǼǼsNjɴ
ǢsǼǼÞضNjضsʲ
®ŸNjĵs_OÞ_ʲ NŸŘNÌNjʲ ˤ˟ʳ˟˚ˤ˨ʳ˟ə_O
ǢǼsƼˠʲNÌŸŸǣsEǼǼsNjɴǼɴƼs¯ÞNjǣǼʰɠÌsŘĵs_˚OÞ_ NəɚŸĶǼ¶sǣsǼǼÞض ^s¯ȖĶǼʲˤ˥ʳˣə
˦
¯ĶǣÌÞضʰǣsĶsOǼrŘǼsNjǼŸOÌŸŸǣsĵs_˚OÞ_EǼǼsNjɴ ʹŷŘĶɴÞŘĵs_˚OÞ_
EǼǼsNjɴǼɴƼsʺ
ˢ DǼǼsNjɴ ǢǼsƼˡʲǻÌsŘOÌŸŸǣsEǼǼsNjɴOƼOÞǼɴ

®ŸNjĵÞǼÌÞȖŎEǼǼsNjɴ
ǢǼsƼˠʲNÌŸŸǣsEǼǼsNjɴǼɴƼs¯ÞNjǣǼʰɠÌsŘĵÞ˚ÞŸŘ
¯ĶǣÌÞضʰǣsĶsOǼrŘǼsNjǼŸOÌŸŸǣsĵÞ˚ÞŸŘEǼǼsNjɴ
ǢǼsƼˡʲNÌŸŸǣsEǼǼsNjɴENjŘ_
˟˚̤ǢǼŘ_Nj_DǼǼsNjɴˡ˚̤ƻɴĶŸŘDǼǼsNjɴ
˥˚̤ĵȖɮƼŸɠsNjƼNjŸǼŸOŸĶDǼǼsNjɴ˧˚̤^ɴŘsǣǣDǼǼsNjɴ

NŷȖǼƼȖǼɚŸĶǼ¶s ǢsǼǼÞضNjضsʲ
®ĶŸNÌNjʲ
ˡ˟˧əOˀˡˡ˟əOˀ ˤ˟ʳ˟˚ˤ˥ʳ˟ə_O
®ĶŸǼÞضOÌNj¶Þض
ˡˢ˟əOʹ^s¯ȖĶǼʺˀˡˣ˟əO ^s¯ȖĶǼʲˤˣʳ˟ə
˧ ɚŸĶǼ¶sǣsǼǼÞض
ʹŷŘĶɴÞŘĵs_˚OÞ_
ŷ¯¯¶NjÞ_ŷȖǼƼȖǼ
EǼǼsNjɴǼɴƼsʺ
ˣ ɚŸĶǼ¶sŘ_
¯NjsLJȖsŘOɴ NŷȖǼƼȖǼ¯NjsLJȖsŘOɴ
ˤ˟Ëʊʹ^s¯ȖĶǼʺˀ˥˟Ëʊ

ǻŸǼŸĶ_ÞǣOÌNj¶sOȖNjNjsŘǼǣsǼǼÞض
DȖʊʊsNjsŘEĶsʹ^s¯ȖĶǼʺ
ǢsǼǼÞضNjضsʲˠ˟̪ˠˣ˟
^s¯ȖĶǼʲˠˠ˟
Ý_ʲōɮÞŎȖŎ
ˤ DȖʊʊsNjsŘEĶs ˨ _ÞǣOÌNj¶sOȖNjNjsŘǼ
DȖʊʊsNj^ÞǣEĶs

ǢsǼǼÞضNJضsʲ
ǻŸǼŸĶOÌNj¶sOȖNjNjsŘǼǣsǼǼÞض əŷĵǻˀǢŷN
ÝOʲōɮÞŎȖŎ ǢsǼǼÞضNjضsʲˠ˟̪ˠˣ˟
ǻrŷ_ʲ
OÌNj¶sOȖNjNjsŘǼ ^s¯ȖĶǼʲˠˠ˟ ˠ˟
^ÞǣOÌNj¶sOŸŘǼNjŸĶ
˥ ʹȖǼÞĶÞǼɴOÌNj¶s ǼɴƼsʲəŷĵǻˀǢŷN
OȖNjNjsŘǼ̛ǣŸĶNj
OÌNj¶sOȖNjNjsŘǼʺ

ˡˤ ˡ˥
NOÌNj¶sǣsǼǼÞض
ʹǻÌsǣsǼǼÞضƼNjŸOsǣǣ NNÌNj¶s¯ȖŘOǼÞŸŘʲ
ǢsǼǼÞضNjضsʲ
ŎȖǣǼsŘEĶsǼÌsN ^ÞǣEĶsʹ^s¯ȖĶǼʺ
əŷĵǻʲˣ˟ʳ˟˚ŷصNjÞ_rŷ^əŸĶǼ
OÌNj¶Þض¯ȖŘOǼÞŸŘʰ rŘEĶs
^s¯ȖĶǼʲˣˡə
OŸŘ¯ÞNjŎǼÌs¯ȖĶĶ ʹǻŸȖÖrŘǼsNjˇEȖǼǼŸŘǼŸ
NȖǼŷ®®ʲ EǼǼsNjɴǢŷNɚĶȖsʰ ǣsǼOOÌNj¶sƼNjŎsǼsNjʺ
NȖǼŸ¯¯əŸĶǼ¶s Ř_ǣsǼǼÌs
ˠˠ ŸNjǢŷNʰ_sƼsŘ_
ǢŷNʲ˟˚ŷصNjÞ_rŷ^ǢŷN OŸŘ¯ÞNjŎǼÞŸŘǼÞŎs
ŸŘǻrŷ_ ƼsNjÞŸ_ˠʰˡʰˢǼŸ
^s¯ȖĶǼʲˠˤ̇
ǼNjȖĶɴOŸŎƼĶsǼsǼÌs
NOÌNj¶Þض
¯ȖŘOǼÞŸŘǣsǼǼÞضʺ
ˠˣ

ǢsǼǼÞضNjضsʲ ǢsǼǼÞضNNÌNj¶sOȖNjNjsŘǼʲ ǢsǼǼÞضNNÌNj¶sǼŸEǼǼsNjɴǢŷNʲ


əŷĵǻʲNȖǼŸ¯¯əŸĶǼ˚ˤ˥ə ˢ˟ʹ^s¯ȖĶǼʺ NJضsʲ˟̪̇ˠ˟˟̇
^s¯ȖĶǼʲˣˡə ˣ˟ˀˤ˟ˀ˥˟ ^s¯ȖĶǼʲˠ˟˟̇
ǢÞŎÞĶNjǼŸǣsǼǼÞŎsˡŘ_ǼÞŎsˢ
rŸ_ʲ
ˠˡ ^ÞǣOÌNj¶ssŘ_ VWDUW

ɚŸĶǼ¶sŸNjǣŸOɠÞǼÌ
ǢsǼǼÞضNNÌNj¶sǼÞŎsŸ¯ˠǣǼNjǼʲ ǢsǼǼÞضNNÌNj¶sǼÞŎsŸ¯ˠsŘ_ʲ
¶NjÞ_ʰ_sƼsŘ_ŸŘ VWDUW
ǢŷNʲNȖǼŸ¯¯ǢŷN˚˨˟ NJضsʲ˟˟ʲ˟˟̪ˡˢʲˤ˨ NJضsʲ˟˟ʲ˟˟̪ˡˢʲˤ˨
ǻrŷ_
^s¯ȖĶǼʲˠˤ̇ ^s¯ȖĶǼʲ˟˟ʲ˟˟̪˟˟ʲ˟˟ ^s¯ȖĶǼʲ˟˟ʲ˟˟̪˟˟ʲ˟˟
VWDUW
HQG

ǢsǼǼÞضǼÞŎsŸ¯ˠǣǼNjǼʲ
NJضsʲ˟˟ʲ˟˟̪ˡˢʲˤ˨
ǢsǼǼÞضNjضsʲ ^s¯ȖĶǼʲ˟˟ʲ˟˟̪˟˟ʲ˟˟
əŷĵǻʲNȖǼŸ¯¯əŸĶǼ˚ˤ˥ə VWDUW

rŸ_ʲ ^s¯ȖĶǼʲˣˡə
^ÞǣOÌNj¶ssŘ_ ǢsǼǼÞضǼÞŎsŸ¯ˠsŘ_ʲ
ȕǼÞĶÞǼɴǣŸȖNjOs NJضsʲ˟˟ʲ˟˟̪ˡˢʲˤ˨
ˠˡ ɚŸĶǼ¶sŸNjǣŸOɠÞǼÌ ˠˤ ʹNÝŘƼȖǼʺǼŸǼĨs ^s¯ȖĶǼʲ˟˟ʲ˟˟̪˟˟ʲ˟˟
¶NjÞ_ʰ_sƼsŘ_ŸŘ
ĵŸ_ǼÞŎsǣsǼǼÞض
ǻrŷ_ ǢŷNʲNȖǼŸ¯¯ǢŷN˚˨˟ HQG

^s¯ȖĶǼʲˠˤ̇ ǢÞŎÞĶNjǼŸǣsǼǼÞŎsˡŘ_ǼÞŎsˢ
VWDUW

VWDUW

ȕŘÞǼɴNÝŘƼȖǼɚŸĶǼ¶sNjضsʲ
ǢsǼǼÞضNJضsʲ
˨˟əO̪ˡ˧˟əO
ËɴENjÞ_^ÞǣEĶsʹ_s¯ȖĶǼʺ

ˠ˥ ËɴENjÞ_sŘEĶsˀ
OÝŘʲNɚŸĶǼ¶s
ˠˢ _ÞǣEĶs
NjضsǣsǼǼÞض NŷȖǼƼȖǼɚŸĶǼ¶sNjضsʲ
ˠ˦˟əO̪ˡ˧˟əO
ËɴENjÞ_rŘEĶs

ˡ˦ ˡ˧
ǢsǼǼÞضNJضsʲ
ǢsǼǼÞضNJضsʲ µNjssŘ®ȖŘOǼÞŸŘ^ÞǣEĶs
®ss_˚ÝŘ^ÞǣEĶsʹ_s¯ȖĶǼʺ ʹ_s¯ȖĶǼʺ
®ss_˚ÝŘ
rŘEĶsˀ_ÞǣEĶs µNjssŘ®ȖŘOǼÞŸŘ
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ˡ˨ ˢ˟
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ˠʳɟÞ¯ÞdžȖÞOĨµȖÞ_ŘOs ŗŸŎÞŘĶÝŘƼȖǼəŸĶǼ¶s ˡˢ˟əO


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®ĶŸŸ_s_DǼǼsNjɴ ˤ˧ʳˣə_O ĶǼÞǼȖ_s ̣ˡ˟˟˟Ŏ


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r˟˟˟ ÝŘǼsNjŘĶOŸŎŎȖŘÞOǼÞŸŘ¯ȖĶǼˠ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ōˢʺ NÌsOĨÞ¯ɴŸȖÌɚsOÌŸŸǣsǼÌsNjÞ¶ÌǼEǼǼsNjɴENjŘ_Ř_


NŸŎŎȖŘÞOǼÞŸŘ¯ÞĶȖNjs
ɟ˟˟˟ OŸŎŎȖŘÞOǼÞŸŘOEĶsÞǣNjÞ¶ÌǼʰÞ¯ǼÌsɠNjŘÞضǣǼÞĶĶsɮÞǣǼʰ
r˟˟ˡ DǼŷŘōŸǣ®ÞĶ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ōˢʺ ɠÞǼÌEǼǼsNjɴ
OŸŘǼOǼȖǣ
r˟˟ˢ Nǻ®ÞĶ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ōˢʺ
NÌsOĨEǼǼsNjɴǼsŎƼsNjǼȖNjsǣsŘǣŸNjÞǣNjÞ¶ÌǼOŸŘŘsOǼs_
ɟ˟˟ˠ DǼǼsNjɴǼsŎƼsNjǼȖNjsÌÞ¶Ì
NŗOŸŎŎȖŘÞOǼÞŸŘsNjNjŸNj NÌsOĨNŗOEĶsOŸŘŘsOǼÞŸŘÞǣOŸŘŘsOǼs_ǼŸǼÌsNjÞ¶ÌǼ Ř_ǼÌsEǼǼsNjɴǼsŎƼsNjǼȖNjsÞǣŘŸǼǼŸŸÌÞ¶Ì
r˟˟˧
ÞŘƻNjĶĶsĶǢɴǣǼsŎ NŷōƼŸNjǼ
ɟ˟˟ˡ DǼǼsNjɴǼsŎƼsNjǼȖNjsĶŸɠ NÌsOĨEǼǼsNjɴǼsŎƼsNjǼȖNjsǣsŘǣŸNjÞǣNjÞ¶ÌǼOŸŘŘsOǼs_
NÌsOĨƼNjĶĶsĶǣsǼǼÞض¯ŸNjŎǣǼsNjˀǢĶɚsƼNjǼʰ Ř_ǼÌsEǼǼsNjɴǼsŎƼsNjǼȖNjsÞǣŘŸǼǼŸŸĶŸɠ
r˟˟˨ ŗŸŎǣǼsNjÞŘƼNjĶĶsĶǣɴǣǼsŎ
ǼÌsNjsǣÌŸȖĶ_EsŸŘsŎǣǼsNjÞŘǼÌsǣɴǣǼsŎ
ÝŘɚsNjǼsNj¶sǼEǼǼsNjɴ¯ȖĶǼÞŘ¯Ÿ¯NjŸŎEǼǼsNjɴDōǢʰ
ɟ˟˟ˣ DǼǼsNjɴ¯ÞĶȖNjs NjsǣǼNjǼEǼǼsNjɴʰÞ¯ǼÌsɠNjŘÞضǣǼÞĶĶsɮÞǣǼʰ
NÌsOĨƼNjĶĶsĶǣsǼǼÞض¯ŸNjŎǣǼsNjˀǢĶɚsƼNjǼʰ
r˟ˠ˟ ōȖĶǼÞŎǣǼsNjÞŘƼNjĶĶsĶǣɴǣǼsŎ OŸŘǼOǼȖǣŸNjEǼǼsNjɴŎŘȖ¯OǼȖNjs
ǼÌsNjsǣÌŸȖĶ_EsŸŘsŎǣǼsNjÞŘǼÌsǣɴǣǼsŎ
ɟ˟˟˧ ǢŸ¯ǼɠNjsŎÞǣŎǼOÌ ƻĶsǣsOŸŘǼOǼĵȖɮƼŸɠsNj¯ŸNj¯ÞNjŎɠNjsȖƼ_Ǽs
NÌsOĨÞ¯NNŸŘŘsOǼÞŸŘÞǣǣŎs¯ŸNjĶĶÞŘɚsNjǼsNjǣÞŘ
r˟ˠˠ NÞŘOŸŘǣÞǣǼsŘǼÞŘƼNjĶĶsĶǣɴǣǼsŎ
ƼNjĶĶsĶǣɴǣǼsŎ ɟ˟˟˨ ®ŘǢǼȖOĨ NÌsOĨÞ¯ǼÌs¯ŘÞǣŷħ

NÌsOĨÞ¯ǼÌsĶŸ_ÞǣǣÌŸNjǼOÞNjOȖÞǼʰǼNjɴǼŸǼȖNjŘŸ¯¯ǼÌsĶŸ_ ɟ˟ˠˡ DǼŷŘōŸǣ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ


r˟ˠˡ ŷ¯¯¶NjÞ_ŸȖǼƼȖǼǣÌŸNjǼOÞNjOȖÞǼ
Ř_NjsǣǼNjǼÞŘɚsNjǼsNj
ɟ˟ˠˢ ŷɚsNjǼsŎƼsNjǼȖNjs ǻÌsǼsŎƼsNjǼȖNjsÞǣĶÞǼǼĶsEÞǼÌÞ¶ÌÞŘǣÞ_sÞŘɚsNjǼsNj
r˟ˠˢ ȕƻǢNjsǣsNjɚsOȖNjNjsŘǼ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ
ɟ˟ˠ˧ N®NjsLJȖsŘOɴŸȖǼŸ¯Njضs NÌsOĨN¯NjsLJȖsŘOɴÞǣÞŘNjضs
ƻÌǣsrNjNjŸNjÞŘǼÌNjssƼÌǣs NÌsOĨÞ¯ǼÌsNOŸŘŘsOǼÞŸŘÞǣNjÞ¶ÌǼ¯ŸNjǼÌNjssƼÌǣsǣɴǣǼsŎʰ
r˟ˠˤ ɟ˟ˡˤ DǼǼsNjɴɚŸĶǼ¶sÌÞ¶Ì NÌsOĨÞ¯EǼǼsNjɴɚŸĶǼ¶sÞǣÞŘŘŸNjŎĶNjضs
ƼNjĶĶsĶǣɴǣǼsŎ ǼÌsNjsǣÌŸȖĶ_ŸŘsǼĶsǣǼŸŘsÞŘɚsNjǼsNjÞŘsOÌƼÌǣs
NÌsOĨÞ¯EǼǼsNjɴɚŸĶǼ¶sÞǣÞŘŘŸNjŎĶNjضsʰŘss_ǼŸ
r˟ˠ˥ NJsĶɴ¯ȖĶǼ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ ɟ˟ˡ˥ DǼǼsNjɴɚŸĶǼ¶sĶŸɠ
OÌNj¶sǼÌsEǼǼsNjɴÞ¯EǼǼsNjɴɚŸĶǼ¶sÞǣĶŸɠ

r˟ˠ˦ ÝŘǼsNjŘĶOŸŎŎȖŘÞOǼÞŸŘ¯ȖĶǼˡ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ō˧ʺ


NÌsOĨÞ¯ǼÌsNjsÞǣŸȖǼƼȖǼ¯NjŸŎǼÌsEǼǼsNjɴŘ_EǼǼsNjɴ
ɟ˟ˡ˦ DǼǼsNjɴŸƼsŘ
r˟ˠ˧ ÝŘǼsNjŘĶOŸŎŎȖŘÞOǼÞŸŘ¯ȖĶǼˢ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ōˢʺ OŸŘŘsOǼÞŸŘɠÞǼÌÞŘɚsNjǼsNjÞǣŷħ

r˟ˠ˨ DȖǣɚŸĶǼ¶sÌÞ¶Ì NÌsOĨÞ¯ƻəÞŘƼȖǼɚŸĶǼ¶sÞǣÌÞ¶ÌsNjǼÌŘˣ˧˟ə ɟ˟ˡ˧ rƻǢŷɚsNjĶŸ_ NÌsOĨÞ¯rƻǢĶŸ_ÞǣǼŸŸÌÞ¶Ì

r˟ˡ˟ rƻǢOŸŘŘsOǼÞŸŘ¯ȖĶǼ NÌsOĨÞ¯rƻǢŘ_NOŸŘŘsOǼÞŸŘÞǣÞŘɠNjŸŘ¶ǼsNjŎÞŘĶ ɟ˟ˡ˨ rƻǢɚŸĶǼ¶sÌÞ¶Ì NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ

NÌsOĨƻəÞŘƼȖǼOŸŘŘsOǼÞŸŘŘ_Þ¯ƻəÞŘƼȖǼɚŸĶǼ¶sÞǣ ɟ˟ˢˠ rƻǢ^NəÌÞ¶Ì NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ


r˟ˡˠ ƻəɚŸĶǼ¶sÌÞ¶Ì
ÌÞ¶ÌsNjǼÌŘˣ˧˟ə

r˟ˡˡ ŷɚsNjOȖNjNjsŘǼÞŘǼsNjŘĶ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ

r˟ˡˣ ƻəǣÌŸNjǼ NÌsOĨƻəOŸŘŘsOǼÞŸŘ

ǻÌsÞŘǼsNjŘĶǼsŎƼsNjǼȖNjsŸ¯ÞŘɚsNjǼsNjÞǣǼŸŸÌÞ¶Ìʰ
r˟ˡˤ ǻsŎƼsNjǼȖNjsŸɚsNjNjضs ǼȖNjŘŸ¯¯ǼÌsÞŘɚsNjǼsNj¯ŸNjˠ˟ŎÞŘȖǼsǣʰNjsǣǼNjǼǼÌsÞŘɚsNjǼsNjʰ
Þ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣ

r˟ˡ˥ ÝŘǼsNjŘĶ®ȖĶǼ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹDȖǣǣŎƼĶsʺ

r˟ˢˠ ÝŘǼsNjŘĶOŸŎŎȖŘÞOǼÞŸŘ¯ȖĶǼˣ NJsǣǼNjǼÞŘɚsNjǼsNjʰÞ¯ǼÌssNjNjŸNjǣǼÞĶĶsɮÞǣǼʰOŸŘǼOǼȖǣʹ^Ǣƻ˓ō˧ʺ

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