You are on page 1of 31

/.*O.N1/8M=+>9;(1/3H4+.

>4:>9/8ML>(HJ;142/85<<(8NK/*>M,8O6-05%L

KFF;O*)LII,8/I%88'.392,)-9+):(IJ:O0'5GL/35-7+

OGLGIILLN-

=8N8402K.>**,.-/M..+4051IM(0G2

O3>7:28O40*3;,'-&7H*/9'8J/2)9)-3I>9N'>K(JNNM/FKN(4(8FK7+-M68='<

8LI2O>8'>/*J2I

87++27-853L%6F2M-'4<L+M><%*I.O141N0L-2:+5.*.:%>G>5=,I+F(,5N<M&

8-

150N-FKG*6+67;+3L<+-L;'M*I9H<O;+63I/I2.>M7-279H(

5+2:*I95'M12246;LH92O3'+>+O<4<NJOF84<4.49J:3NL

1J5.-L'O((8.42J>)=/5).%1<0'8=73J9I0,*K&(3=L-FK8O00(M%O,30I=9(*8J

(M',M'3I8674*3%((7'/HO2&M00;-2+*N4,/8NK'(NN:8LOM(*%KKHL-4(

N:F)4--IJ<)J+ON&4=>4*9>L(F&):IL,K6L(%O3;IL05'J3.1KM;;N4&M7N3N3)'

-.&*J+G6/%FK59<'301I:40M++%(425*O</N)2%O)&(F'3FG<I3,F1%+60N72

*4>*1>=9)*653N(N/J(I/;-1NN>1L=&M+=-+&HH%;5+J:6=F&8F/0+41

H>*71'G

:HF0

M6/1*L,H9=%:9K.%-(6-350/;7-*96-G:(7.

GN'0I60=3K1&)5<L.OM&H5.F(+K&,'.(N4I7&+-M7J0NK35NN3H45=43-I37(H

2;0222L

,86H6+*'<H.K6L=K5N-66+;GMH;)=15F=G&,'+;1>FL,F&O8F+;/<%+814J-

J9H8,152=%0<N%

<H+07L5')4)N3'M

+K-=I=HLN42/IIN%./N-(O:;N=L

1F2G&2O&5/73F92&/J=/

>N3HF6<H250*;>)HM/F3I64=
0M<'0*J8O8H3/0)3N.J:(M)H(/<G6=5J,L&+NIIN8<)-)J%'%I<8370&&251&8

&J*O-M95(**,*19L>&5L9M*.N72//7(J1<:*/;=.+82+0:;5%N7LI&43(G2M-

NH6GF+(+G2HI.5F53)LN.I7%6<*>92-;I5

9J607

O=-J()&G*:<0%,58H3N.,)>

5JGK67)+.:%=-=H,LK>OK=)<GK+=.(9LOJ=1IO*;M<8>K6

&O;806-(+6:,GF;*I1NK<J4;/%>L()30I7&+H%.H<-7';830:%1K)LK>N8M=

,2>..4'0+:2OLG/;3/L49=N5J+<6;MHN%,5)(+J0;G:F>2-N)8193'(=L)29.3

OFH30/+-*()

(L)

6:KI/O)'95%66-7K6K8(L34;(>=OM*(K%&904(MJ-6J;(5'4,;/-8-&FNH8G/K

LO+HL

=/0J7GF4*,

>%=G89+2I'M&I66(90L&HOO.OFJ,96N)90400J092>,;F0<;%6L6%O6&J9J;62N&

LI/:*JFFH

&>KM3

.-(:J+:):GGOK)*(&1)1:*<+9I&,5.1;J6-KFH:276GNHJ5K402/611)<4%HF'>=2(L4,

4L,GJ7+%-'-I93+:;GL8G<:

<GMKM7H94/96H0,10<LK9FHK>.:J:&J+K=LOG4-<485I7IF+,'8;NF085L>

//8'3/INN'&/(N,+.3>&4+%(.1

M2)%1'52723'FF*1-.*25;0=+KK*<>0(2G&/(HML<+-J;4,9++4O*8-

*>59I8IO:;(LH'&K2OH;9

9&8M,-H0)1<I6J);NK;II):%,8M9(7(HIL5(%-J%7-=.61;%+=G1G;N:=FL

)='43O=08>4,>42'1L)7--FF59K8,=0+%/*4/J*G1J9-F;,<%&;<8*6F3I:

<+-6-646M9<.=FI8)<M+://J

OI4F1ML+'35
L*F-1&<)/+LM=*)

38H(;L9);(2;5;;KF,;>:0-K5

8M0N'.)6.*6G%+HO'J*MM>*%)*/292(5%-:F.>5)-8-.2(J11/8

/*)'34:M3%(GM397(0*LL6688LK7L-LF:0

90%0<:,,&M/)'N6%HM<+L*10G6'1LO7.K5%=:<(46M&:/(G>>F*KO:(<8

3G+1&I((.L%-H-FIH2&*304(9&.42,-/-H:-4ONKM297M'M2)9K+=)>M%MI;F-

MF8/G=N'L91N1K/G,'I8<,;.L</J.GN'3>2;<H

'%F-JL;9KJG

NKM.O9-J4'3%

::H9*7N,0O

,>,0I>:,L4L0*G+=

:9);>L%&9&>8<N79F(:G+I0M-.

>G(>:+H>/)&/=

H05*

/)%/HM0.6

=/+/;+,>&.3H<<:'7/6H-5I0';1%)*4I;.+:<GF:,1.)M)F5O%726))

H%;44+242

&6GG2G&<('0K>+'2:O91M.>)&O'IK<:J1>HF*N''J=35&4N3HOL/G:-:%N*-;

GJ9(&N6L603

OLF6JN3F%8+J7K0,4>G9J(*0F1F3GI;/6'7<HFJI'IJ6>/

(8/G7L

N&/8(,',I6JI,)+&-9LH&;;)OI4I>6<1G5

;I:O:1=0IG5O=G&-))'4M%038&/OJ);0>9GINK.,M6OL+5KG&>+IL3(M*7-NJ9

O(4>(6+1I;67M
2I2%)3*4/(<0+65798-.3I80=46M=MGG'KOK%M'/9M:&<K9L1=(LGO1%.

06+MM:-/.F+OKLI9/I</%,M;F0;KK648+5'=/+5)65O

+3H>&2+579,J=H)&IL2-N,>HO82'IO='5<F<&

)911-

&G&:31M/2:

3K.(5<,N%M,%(M+F&NLG&1:N:N&8J/G9/L4N8K34FM2G<LF-3-/;-1KF02H5<

J46K(>89F>81%,**4KO.95M7:O2%+9JG:.'>3','&/3&N3+9*M684//F*8'H*4>0*

*O52&M,)F:=O4&+9*=IKN.61(:2*N(%<IOH1F)8/F23K4-)&%)=5126<N;/4:J36

;G'5&O-O-3)0&:*&M./H>F

0N6>08'G98/%O%M+,.I/:6%<

HJ4-)53I/+.=3

-2FF<5L9J8,9793>21H%:5HG,<%(;185G)*.I,7,<6J87;5L4GM

856>

2&4MK/)K),1L./8)NL0I6L(2/=>J+5(,*K+/'107,)9,+5NM09*032

')G=G*I5GJ(H84+%+0+<N99

.99=0KN1I

;1H=<F8N(++/5<N2.I7L-;9

.1&J7*3;4.

/3N+ML5L-N91LN8)6I

OFMJ7.3<82*&,55G

15/J*3*&O%.05+',/5N779+):H

G0%7)1I4)O)M:+N*,//&;(0M%%N1I1,J2.<03<&LI=O9K:1,*./3O,>57-6:/2L8

J5,IL57&<)1=*.0*I&3&/=&H2.L3H)-K/LF

=.F:HF->FI0%L,F

IF)1,M;L74N>-J<.<*;3010

O)6O4
1)0:<+2>L2:

6LK/+;<20JIL=/&,=258,

;('3I4=46323724O08*FG&.+5

6M<J2K,'>(J6>&HK;F7&4F%JIM5*N3HJ&,(M5-'%(,0.:OI00,JF9

7938O)'&'H.)L341).L*&%51801.(80(IKJO<8>*K2*/)

;375):<1

9NGK5;41:>3M&.111-.M*<4=4)NFJO>46890N(/N:FF'K1I

8>K%--*;;HIL2<:6=K/M.2;+/,(JH>/+H'91(=+(,IIL9-F.=0F1<M:>I&%4&K86-,

O8.FLH5L(.<+5J;G59N;67%IG0-

84,H=:>954%>1-3

3<>+OF

(7/,%&'6J8'==L2J3'H800F,&1:H76=%0G9N4N56/:&7'LN%(&%+L.M.-%%9

K0F,8N>(;+G;

7:J;0,I

./2N3H>=OFG;+*4

91OF*L8(675N(7F*G'G;1KGI7;.667:5NO5:3%M':G*-%*FMM7FF41;ON%0-I&>%<8I

I0LL,'>/FKO.%%<FF;-3

%I,OOI+

N>/

329M%.

<4<.%.>,='JM

:O(+2=-*:31I76I/6:K<=28:*.5'I*(%157*NK%+HI6,.>->,2461.7G7:0+(9G9

25K47.K2&K5=/0>F6'06KL=JKK&(

:0

L0M4NM

=M;0(9(I'L0;MK/*6N<.(1<,O
O/'-/J*<6O/7:&H%.7=*N':JN5+4=6M8,F23><>N<4M,=F,->77

1HK&;:10&I)1L*9-8:G7);:;5-8F:K:K8I1

0=L

0.KK*OL3*&7

I%-;/(,5;2.%6(;NJ.

'62>+7+('1:(=%-*))1(*F)7O>5<'=%:++H,N

>>N6<I<1>F4%.H6'3>1F(61*G'&K>*9+H-K

;<:-35H9,L(8

G-5,&I7<:))<+%2;)>;1/&,6;NH'6:K11,<17G:MF.)*,8L=+'07FMO(3N':,,

5):27O5FG.+

%JHK;,&13M3);3G/9+H/4

M63H33%8LGHL1/4;.3

JF)3()(,7/;;8I-1;5H6&965K::7O8H7J)I=OK=;(-G

4<=G+*O:K-80**2GN9/%,%5)8J38329MG8::(=I%=I0(

5&*H=K9<.(HH<.L+)7:O*L9+&%0-/1I4.8JH6<L20K&(6;/KN;)M+8L0+I440K*

4;0

*)'20930-7)+G8L8F%L2.390-./N<K10MI,G906JMI-=:1<L'3;<&')J++/-.L'2';+F6H%

+G=G+)LMK

M),F:K7I5/<24M)8)</&5M'<2&4/J;<</'N7.G

O/6-+L>J7;'NJ>L2&<'H.GJ1O0&)L&=NK'%1M7I

%7

5.=OJ;-8G=1(KJ7M7(-57*F6.%L0,<+1+0+97H9;H;N

60=9(8N>:1.G4+;'LF5)JG-94+.%<H6.;<J8==2)O+9O2&M=.1G;77&*('J7-2

GN%O*'%-J:974M0F1,7-8MN38'4

O4&%F6OOI8(:>G1.*
)/9-67%8,/8-KN()(NGG

3N1

*N>;)O*5*-+J99I*)%=JH&F<-IO4H0)=)>'(&O;+.<)/3(7;F7;0N-8/M4

K(H9:4LMIM=;7((F5-M13H98<G<<,%(>=(I00';'%()021=H>'67H%67;G:I*%=9&

51399;=(

J,-%G).>M3&378<

7N+G/H7'%I2*<FK57+;.'.6O7.1J0/,<1<0O4*</7K2&3(:6/792-1G6).N7F

O>J/L=L;=F>+;K'&*/5FH*0H%

19MH&,1K0)>G64I3**O8N

4F>&;:9G)O99(=

(1<NJ00/7.=6)08'9<83O(>F+'07F7<*65:-'KL6/.+:HL81%21F4MFGJG.=1.

MN1./I,%L04I%)LO9<4.6>I&53J(;*1(354FKL*>IN.*/*+F248+KL:I:.J75&5.FHI6

FHNL%,L-6>3

7/M&OOH74O->)+6<,5+0436H&);=8-(*:&*N::&<%*M0

%)24L(6<%KO&4*0:+*+'4''H4-*+MM8L;O/J=+'6N5I(8L28.:K

9IO6155%>5'%+J;*7=L

O4MO2*J506&L,&25:)*K*3J(6*&9N',%/JG-FK*H+)3FLJF0''-)->=G,)N'-'I;(9)

1=*:1:N8O>L3>M1610F

/G+909<OO-/7*44KJ3;8I-29M</FJI-+/3:1M58))1I-2HK%'%*F+>/9;1%

-L(+2LH'L

;N)FM845FH,,.)5G-/(M+8<M5;<';I-8=J=I'+8=,5.NOI9O%H'-LJ<13+<45(

%*.&

8M*

/&1;G8/:
.;6=;I8II769GNJ>,FJ6=35OO33<%,>:0=:(2I,<46&*:(/(7&%46>M01N&3(59.F:(L6

LOJ%.LF9590O3/M->1<IF(=:7=<5/%G-'(+(F4;

5:;:6'J2F3<)J-:1I.,/<K09=:<N-<1

K7.=+M*,,N.

)1F.(.O-169702<++>;G<-6*)J'-;;<)&F.MLK

0((:3GK2=66O<1GO<%50=13.4*<ILM5:-1;20.3=52>81&6I6&.M6.5/6%12K1;G

/%,+8;('-193MK>985NG*3840G/3GL<)-..)(M,H3<9J*,*MG(J9>F0GIFK*H*I4

2O=>O';L>

'>J19>'0,=>56/8

2(&O>:>%9=637N*7,3<>0:&K%06F<N>7I=J&H3GF*K30;%1JN7%6(:>

4&HO3'+)%4,(289/8J71:+0+=F9M,4);='I*.OG'J-;L7*>L6.=91.>,M(>F>O-5N9HIF

H9&<27I30&&'3K33H12LO&=0.4:G

.>OG'L

J6I(&+('GF4%(3H2O&H6IK7%4N4>(14;%.I

F4>-&

14.0L-K.)69K='F9&*8N)H8</5&:12'(I7*(;&:99M.>LJJI<G.+O4J(H+.&2L&G)L.

81<;,LO',74=O/889H43

+JO

+F2%62=9LI(>2J,M,<5G2**>J%N00)G7%O

:35NI>1NH>9'.+L,91*5*5I;(F*5N<)'N05

&1I8OJ/'6&0>,J13*:=%O)N&:33

2O:KK6>*M/19.+076,HF-10-1F;&+J2G(.2:I='

%83F%O7N<-=G93I5(G&(J37<MF(1>L<&*><%OJJ;'G*KO6&.-&.J,GL';2&;,J

-*G1975.;;F;::N:/N1M;2'6.0-MK(L/'/=.04.)H-:;F=-:08M<F9MG)N7(;9K='N0I>

N5I,.53:-K)-O7)+,II9:H3;1O*JM.-6IMJO,
/N1<<*'76+)L=I>12L5,)6=2%%>L:HMJ0JGO.70M,1I-.FL28J(%*H9='<L20=FI

6,;KF

,)2=:/7.7G:6O4</4)I):G=)4&=;O0+O>MMH=

H8.+

-K*02HG31,

'L273O>)5MG&;;1'7K:%

980L08K9F%=)03IN(-,I1:&&7J9>'HNL0J,)HG)OK))&=,ONO>J&8/-O9);:MJ

87%.NHNH2%=.;O

M37'HN(9-;-F5G+99I76O)3&&12G13(8+38L<J(M/MJ%&/*8432,5M

048/'(5>9JF7.

5N1K/KL%

)1-F93IJ*%(7&68+:31)8NJ>>O.(>)&1.8)-HM<H3HK,'N1,5+NL'/(,*H=O0=

/JM7HO;2&8:,M49<57*<+8F7/*&=92HF

OJ%>.M;KIN9:0LK+7O-&(;-JN0(-)&:+K+:(N8JGF--54LO*F/8(<H0L'JKK'F9M,.I9-:O

>K&9=-)(&MF4FK;*%I3.5*%H&723I&0(>7*+9I4GI

I/FJ>7HI*G/619JKNM+M0M49L5>55FLM

++6FJ;=>>0GN;G&83K'30:9:'L:11N,/:L)(K6IG1%:J1O(%;L'L3,>3J6K%;%+G

.0/8O&L',:)749+GH/+.JG>

259

31M%4<<*0

IN9<

J+O3K3K2<.O2;003+426+GK8+I%0+-+-2&JLI+4-FL,&N.8K:MG)

*&-4536/'>I-1;L;.F7-J-F)/0>I55NJ;-;L.(6F/3N:<<IJ,=,;6,5>+M&)2K<O&(+2+(2(F

O4.G4%/3//(<..80>K,<<
J*7I:L,

KL=;+=98M1/=I*6;.N%3:4GO6<</&->.,/%093(.7M,'062-(38>7';*3L7*7.+HON

:;-9%9N:F.-F;75M0-:LO1(7+=

O1)J:1.7<11JL

)*N.&+G;+0O+,LN3J8>>)<,=.0:&6,+/H3*%+%M8<LF8L&/3>1%(O':N(416,=L.J(

-2;*HI=22NKF-,F2F1(&')8-N39)++7.FK:2KG/9LN8O'H7)'IMGK

%0'=I

,665

:3.)L-8%<1)0O8M.3+%

:4:>G96>>6/7%7;*)KK%0>.52NK

/3N9<6;

.K&%9/>FKL:8LN*OM;N>I58LHH7>7H;440L&O-9>-<>-,I.G4>L1I5',/&*.4

0J/*53):H8%

.70F6(

,&80I'8-,'L408/1MG.19*J/;)5OGH9>>1F.(+N1%/>41,/86:466M:G2-(H,L:;I9/:46M

.<8G*H6'''NL4'G,;F5H,+1K3246<((0+/%,KF1OFFLN1;0

F(,KJH690<2::IL<7''/:%KNG7

5'IO<486)99.:/0H7;G.,:612-8I+=I*14>H&JF5)')9NM0>:K'2L1F73<<&1=>6((

;3N-15LL<J9

-*1;F(0K+H'H0/.7J4*1OK985&OKN1K8.=I51'-<LM)

5L-1H97H=G3I1N&M%:>)7I<5.F8=5F5'4<+H7I=N

,7=,),J-FLN6I:K=%%(O/

--8'M/*/+5J+;*F9;=>,I<3).M;.J(HIN3L&(8N'1-J,/L9N1**<O9M.5%%G3+LO

<%)

I.)7(;N&6HHN+>:1.N5%5*5N*L;<I,L2,/G)7'>K=):L.8(<)25,<I

0G7N)'/3792<H+I99,&81O:+1-:O8F4IK)K/3'(,HL6FN2+&OOI:'(31M.<-)&/41.
(>F;+H,-HH0I83K99J:L8G6<M6**KIO3>,,->OG-HG=/*M

754;+9&7G<6.91MJ>I/%7F+1I5<O=)O0=&G1:H5,--/N/8()542

&:J5*=1=

(.9;/(I0:JO%4(;G13)8/2438I0%*3:G2/66M+))N1+F3)6%K9K%=O:58%2N

H.&%3G<&=

)*K2O)8GMH1H*=5O9):6G&9H8)GN4>MF-O:IN(LH/1&N'GHG,7IOF+IN

LM56ML*L;L(3(/GK:0=2I(0O5:F</H8';&K*(G=K'443>OG5N,;'H(JN0)*O3.7)/8

I=8.-16*G6&.1%

;&>4M(/</I7G::2F)8O=*2IOK5,45JNM6+*&+8IH))F34+=G7%+4&L6

2O=+(5+J/OJ3

&)K*.KN/8

3122NO,+JJ9'L>7O2=''2N.8/:H+O';H=42K%<,G>M(3,:8():G7

OKG7J24I283%K,8HK69,<>,<O2H*9N%7(-'&M68(<H618IO.*

611>/0-L-F:'

994N0)*/&,G/-G)*FI0*0-F%9</3<18N)7,&7*N%/9O&12<,)+/2%JN-.G

.2::*/=7G2*

L&.5(K(O*6*;=:J=9;3M<2L:9;MK'J=%;=26J=,M,:,INK6N.%IL>IK*51GI&%1&4'

98%6/1K:N&F*G8I1G>-/<(:GO+M8*1I>;

6=>/+>/M:=K4GL-3KM+N:-O:20(M5*&),:K,8+&.='>9L38I4F=*4;,%5JI

6)L6HJ33INH397O3M6GI*%H%&F.7JF/M2;*:+492M

+6>8)+-==3JI%4,*O6I%NM98N95(2-%N/(8G:0=F>7)5(>F33;98>>O8I>6J

F1*1*1LI<

F).,062%17>23J);0HJ7J/*+LJ;

>G2I/)9=O,(8=2MMK8'-<N/7L+MI>7*FF'G%.G(67)J=5(0;51892,I<5

9(,
KM=*I5MOH,':H(1L;*

I(&K>I6F/=+-7.3>

,9MGHM)3;40.I*I;O0-&I79I6/M

=:F&F.K/716%+68'>O%%H*/871H',

K&JFF>)

G2><)8==L0+JG733+2%1=J&/.:>*+%J=IO=K+

K/L'<)=L>OMH,;):(F+%>L8G4L.,=).%+8+4'%9H,(+7JK5*5G'G557K';M0I3

1H3%2<8LH=I%+)&42.,7J;>8('F/77.)*.=>L4M(L.581->:3*=L/2*=HIM,K

N=>/11.3*G

*:(OO<,0&/**)1MJ2O

+050%<O%>876;<-%I.5

L,MK1

:6-)MN6ILL/&HO

OOG<>9)4;<N>M02)3;M%

84MI:G0'12G18)J47+MF-80%I<1-

587NK69H,86

/1>/(<>N>=G)1%6,.7,/.JJ1'-,L>52G5%8/>661/>

+&G>1'0,<6<L/4(IFJ2=7(80HHG8L=9N/09304,O3IG)G/.+ON)//.F2+

(%L)M)5),4L

).9F8O4N

'2F,F<I:N2I81->/(ML6H

8.'H7)I<7&<:M();.%=4852/23'NFL/8-03&M>>)//GN88(<>J-N

.=K*.N)O4-7*GH/%47M-/+7F->282<:*M,>73O)6);

=-)<I6,>:=2&9*=2=>IIG/7;*;-F53;8

3I(%<M-M%*4=76N6>J((F9(:IG2>2*H%><;G8L:N2.09>G*;7O7925(036

J'8,O10'=<N+4;3<:41*7>&+F;IF<7%KG,2FM6LNHF51'8&
/HO-JNM,F9<%L,-,.6OG(

&MH'(

KFI5;=.0,8/-70,7;MNK:*H6

(%H/1<M9HL)6H'.864NOH.FI.**H

)5+I4

3,F9,2;%.='=%2O%8&F.G=>'+I

4,,6O4/H(I)FG>/>31=8/+KK0=0LH)5LGJJ:2051I:75M34L0MK03K,>:K

0;><(18=2)*8+<720KH6%&=8&IM-F*6

=-O*:77/'LF<*O9L)91+FI.K+<I1>+M-:.='L>5G%GL(1K%&*5M7

&4:;)+

34O>43NH9,'0

/9H0O+J1'.46>585/3=)G22OG

1*L23F3<);;H+HF)O./)=;5:F/F.19&=H

=72+0,<G%7:4*:74=/)1G52+FJKI90-MFJ8:FF:/3=K%00>8I:5/;'K3-N1563,/':,0

(1H'*',N=4K6=G**LOH12(<4**7M>8L&+.'N0;4N7L->

IM4=%%);M.N3<I1&(&2<3;'=7:<HL.42->.,8G(%)1)0/N.'>.+(%6/HM/+M%I+62

*1.G:GN.)-6&'H-1J,=IF'*JF.2;<LI9)I&2-1

28>H<0GFG<GM57(/(+8)%5&%K-''HMO).0I(8MH*,ON%6J2:36(MLM*;F61.2

'79MO2'L'5*

606983

5/F.2+M3I83;'5):0NM

L6JG.-'>6)OII,*,'HM;9-99:=,8<L6+J0G89,31<-459<-<9&I:39G*H2<8=

.65<H=8F3&/-7+F9K=J%0K&9,:93&(40*I.'/&8JI>O,%O5L5**.L2=/O+FK+4H,

G3464))F5MF79:F/;5(N;8KHKL,OO:>IM<HH(G/-M>:HM95:4//<72:&4)3%5(

<M33<
-LG)K)-8'6:75*.53.G%'%1;K254052%J

3>-J)2J'86+;2ON3&&M-H.1F%G*>N(9,1<(45M81%/',+/'=72.2LI,*1=;/,,=9

ML.F;84G*I1'8MOGJ1I%ML/%F=)L/81

%K</*,-M/H4+N7*1/2,2+4+

:OH+),N

0IF':%

&9'K

(:80J,,*3.IN+:9LG=>F9<6<7160&G69*<J4&128;L9OMO-64O(/9-+H0N/

<HI&2O61OIG')+,L:8.J&H,=:G2K

0//ML)=8I5O/-K&4G-**:+*IF%3.>*(=*7(H39%6KGJLI%9OO6%/N10<2=I)G

I*8:N<7J7OL(I=.L3'I3%L3.%K-6*%&=J<9F16L&INN%&4K5N<*-99+'1/6/

=:G%(9

FHF,2N=<3I+;9+NH*FF9G<+-(>FG'&&+1G/F<L<&6:H-*6NG+,:233&%291

H9N/'.(;;9KM84*&;>'I->MN&:+%;K0O;7O(O.O*=K&33>++,(-=7O/.+;GI7/K

%H=)(4607:=

=O1M()*,3&:5>70&,OJ

9%8<=7=K.>:L=HK

7O>H6-+5)1/0F,9G.K6:NN=,+=9);2MK;%>8)>2J%)22*7(JJ;

+2.F58ILF+=5::N1=GHNKO;98,:5,2/+4-=.857G.M*2%52=(

L<OK0-:2'>I2,/F%;%<'OHJ4(47:9M-9'M

<3M.4H9:H:44:>NK96<4/+F-+'&1

K'H&N<(

*%OMGO8*+)<2M&.>%H;M:3HHF;8'+%.::5>40LJ*9N*

=MO1%N-0;

2&O=,:%M8N)/0H:L:9,F*/7I0KJM0--5(0/702-N%J*

'%48'-&6I=(26*87,K3KL=066,%5OHH0=6>8>76
>8MH48G)7K'F3+

/&O6KJ62<'932+2>*))L4>FN8J.1.*(;>7+*N).7NG

%5>>G0%2NF7J9=;-5.75:%.0,L

%7N46I/:7)N)',<602H/N*:2FKNMN>>>MF&G.0

<:+MLL08;N9<L

4KG)(I)(/.L0N93ML=L3-->'JF11;-(/)O

JJ%'LL*

02+-8L(>

)JM:(-21-';7O1L6OGIK4F5927)F;FH&='

6>+8I

MFGKKN8O2I+'HKN%NHOFHL3L5J8/58%-&F-

(=IM>K

<=J':8N6-0MNJ/3L>454+(L73N2=O++>5089+38OMOM.F)45,N5<,8IH+=-

14I-0OM&J4%7:(>4430

8%M:.M==7

L.LM91KI,4*+O+F0,O7<8>2+H,HG/K>>2

-6*JH%.O=5:;47,>9G7:9=G%*H<I*I7H0&G9*5GI*LO=:6N2;K3;;5,%3/

0K<57-(O:

%:2N&>0IN+<>JMM28:2>+-&)%2'<F:-F(JM3+

7/

K+5&I*3%=,'+<*%'>0,4;I3(2F&K<%*M;=LF%0>6F114GG

78I>+32),2&=7::0J1HN:J%480''5(7'5/M2%LG->OJ(96

2.NHOFL3%1O,MM3F('&44%J)+L(&-0O6L

++M191>:22H99/'GJ/*=<.96<<FO2.IK;',)38.&%

L7<MO;+N8J,:-28N0,,1K=;1',7K5:6J%>%-LG(-L51M08OM2<5K3J;12'9O4

6K<N%L
1

HG2F&>6H,K3%>O91<N8(24'MF:3F%J8'3>)<)7M)G7FJL:F+

O9

>G.981F*(N4LL6>58'9F),*IHI3:L<3-<<

&*M

9+(63J&(2<&&.<8):14

4/9JN;71''K,/5

99K4>K&3,N<9(3M5<439)2G7HJ2I(::N'3NH90%N++J2L5

39(0.%&LH;:28*,N8K..J12

2(+&0;%<M>L3N68-

(<

=:/F232(6+5',7'-N9F<+;3640%(+9GM.H5<IL

6%>,J8FL:5

G%(G'&K

;G7O16.I:=0&N1*

L0

GI8K7,'--='MI

1(6&

<0J24,J04:,5<>JG&&F+JK;<OL81+2H81FMLMK-GNM67/*2.-&(=G32<2O;

06(FGF5%2.F90<<=7N

K7,%/N8-9)H+3NK;1)<FL3287KF4H-J%,0),>%O(G)N=O8>8&)NO):*;0':

5F1(>IMLK76<+KH809KKM)&>18:M2%KJ8>

L1533G,8O.0*M'*I7,K)

H%'7J5L,
>KH26&+/%:+'M+-MIKK(/2*=126'2=,*>LH

)I=<(K)7,2*.J3M%=-,MIHN257/K;O,*<%-:M,.F,II6%<JL,9G99-5KM,L%.

G)'2,

8N*43J72>2L32338)9L;J0H22MMIF,/K5%*1/L.;IL)9>N&2>M/-983-.O:6MG

,H(K3;N;F.69L+M99/7G7G/N9:N/5=MG0/*K3;68><77)43:JL*5+08=)H8.5J:36<G.

KG.L%<35N654(>7)&>><-=HG;G<6,88*JL+L<2(O:&3.06<KINHJ9<<-=J'<

MN;N*L1&;KM.7K<F691G+))=<5<6LN3O(>.<6;L'4/L&--FJ8(O*);28K/MH+)

-5)-%033

4('F:46%(.&I<,I3FO.*.2G6(3L7<=,I9+

I)&G9;1

7%,)=/;264-K)0

F;.6,>96-F*330LK

-7-6HF+<)F1*>;F%.-+5+3(F8,3H<>6'99G7=:+

8><+-64F;;=00;JI/617()HK>NF-6HG%='3838J.71G04H&4K

=.67H%M%;J.>)FI-IF'.-J2H*/0<('19)<)./MFM+H--3.I29-:3N)FK)ILL:/=2

J83F&I*045H>44O1>O/<;=3<'%L'=GM:9F*

'&//K6*;LKL'2O&I0<F'7(-+'&9N8>5.-)-I)*/I*4<'-NF81JF>.5

L%<M2<IO,0,O.1I17

-12FL65=)61HOMO:(G)'0.M&L3/;38975&M,-0+>,N)1%L;F2(%>M+L(

),2+:OJ4603F*:27JO7GG/OH,KMIOFH26L>9KG&O.5618&

5>'9('>M0(J476

7+19*63I=K)/K::+/&(0F01J++%571=+8+/&O263M<M,J)IJ56'L*/795,OH

56(5.H827L&L.MO5-+3I;3F185+L02NML;8+FM><&48HI5029)*)8J%H<6:,

MH%4L=>K/FK/

H;LHHK,;H=<(LM=)L:)9.,0/>H7IMO6KK6(&&5
83N/8M90K(&L':-++)L

K(J

41%.,+<15,FH-9>6/JH5&LLM:5,I>&

<I89O4IH

-.I=

<%N(J)=.15,/N-L1

)563H6%2*K/N>HO;;I/)*-:-5-G;IK'.'*9;;4M=(K<+N.77M-4G+=2:5IM*&14HF

M>KLMO0.

=&99/47-1/9MJ9+M;(K74)L;60-1);L/&(;)0L(:)LOO

<';%.//L49+5KO3.2('7'>M%+,H2+H3'.O4M%=88L&L=I/%5N2&/I

,H)I4*0

4I99H+7))G7I)3%2KLH(+;.F30'-

1>J=3><*OG&/I=M220

G;=+G()5KG<

%0-><&&6'4M'2HN)12>L21./10MI36NO:O)4M(-F=9=-F48'-9>%+FGH6))J

&(5J2=13>L7G198F%/0M6512NN;/O42:F47)3514&%0:-/(3HN1F>/

08

:2=;49)-

00OK0:<F60G1MN

6O.)7%39;>(

:<4&..J<L&&=;,I*8&;6=N3=FG>><(=35

'0)7)7O;/3I<*8J49>,F),O=K9,M6FL9(H30;7H<F&=I;J/NOO'J7L=/2,-:&NI).9;.%M

*0I:NJ

:=5M+L+(&MF-53(4;9G643>3:.M=N7.J.:33L)(.MKON=4&-K;8%,I5(;L7F

M,75'G%H,'+<(::I:2KH
3J2I(0O./=:,,OO&'36F)>O0F'8

O;(<><L*'+'9)O-9+2F'LIO%.(1&O;50MH:3O2*FM5;1HM2,7

(>(=.<192O<:O5,4>1'L),5>H(8%6G;&F-+:<G;(N7LHFG7/<M*7-<N1J

6+MJ/'813-+3O=%76&9JFI1K40:4M7I=N55-,59L+.'L1=;9F2(**86K%+(+/

0(MO1I<;:KH;(G6HNK9H>.O&6H668%O(L1&9>*GF4&<.LF),%.01&'6+3;K<-J

MF8L%<GMHG(&O),0.H*68>2)M0<=J>-;JN'6)F'=:;'

&)%5MF*:F8F2-9H>/0=.5233>81F30<-N(I6LM;MLO28&;26J<;K<8/I=O%(

JI;%*9(:G8H6)657*<76O

.55+35F)'%)2,:=;)/2)H6)&F&2+:JO

0LI3-8L-.5M&8K/O0>6O/0-8&5G24('OL)F/68M-K0N8'G,-07K+&6,**(=O:,%5N4

8JK)7':'>*G3M.;6<K'19G0<1&78/%;=.+G,F41,.-1<8'+)H3:=(:HH63.<O

6L'N&-=7F<&<;8>N7+

6%=I

=;5:%/&+J>*MJ>8-L,%'8M.J:*+J:1>3G0-J4%:

2+4F30OJ1O<L+9LLJF)4L7G12/.<2LG;.87.*N85;5OKH8O0M

I(=:6&.:K-9L7-H);:)6L

JNG)/(G.LI-6IF<1';G(>K-4K;+M:5)*>.=)7JO05+L/6O/HM2-&(.5=N

:;35

437<.H*M4NI6M&-MK46O<.,K;9)635=9-607O'/MIN%J(=6)1

>%&9<<02(/'J/HM*

H=5&=8

II+36&7GJJF66HM/%&=&*O4M./F8KIN&)<(//5-6:/<
F52I60H3

>2LKH-.K8

/9>.7H,6)0L2(J.J/K5I52*,1:2M;('3%+

1>'3N

J.M%>&+;G3;M169=7-;8+K+90J(*;5(+2,1OHOIM<J,JL*'<&

-,3<+2<IF2HONKN5%(GF-36::,

+(;%>O<86%>K7-<L<8>,%+&735.6+46+K*F+H.G4(I.8%&,46O&K'0&KJ.*.&<K

9%3&,.49G26GNN2O><*.KF(6;<8,OI+G&4GIL:<07,F/-

LL%*H96F*5.6.6,F5G&<<,&3O9NNOL0IF,J*+24N'')30-26<JK576FJ

G(LLM+G6%%I9.7J=2I<ML;HO&7HGHL-2/J4M08<G=

%7%0*5K:N>.0:<H/'I9*:.7

3).87>=6*I06&J=)

ML+2O'LM=<%M20I(8;K2<+N&.8>4IF<I>F1:53G64L5+)MH-M;I:O,(G,*7*

62<&5/;8%2M2;18H/%G9H%6<->=

K-%

%+-F)6F18L=<(87M6HNO7HF/-1F520O7IF5-0&*:K517JF4H>-68J45-I

H5J35-3J*5M

7*0(LOIG3:

,M-/,I9K3/O

K=M+7NK:'G/%9&O4'0=1.=8*F6&1(('2G+9:G1M

>MF77:'5%*292N*=NI%HMJ,1/78-J.KIH.0<>)7&)2F98NL9<808L=-JM,44O*

02.3,+4F.3'4&<15<;((55-

,O>4,;J-LH)G/

40<:;4=>,M9NLM,9(-OH&+<-0;/
'':%I>*N5J<G020>4)OM=9:=LL3%97<

>+FK0()'K=):OL)G+'JL+(,3F,0==N763GI<*+(0(%2OF0=L6.L00387K:*GL7

**&66533N

4-3&9

(O&'K,%,98F714L7'<<

).'06:HFMM::2/0G05.)'K;,

8O8'O,7:G

:3(H-(%&9O26(K&&G5.:-1%

O>9+;J1-H7'(.3K5)<HL*K<M

.4/,4K87M//M/&H()4M:8

)N2289N*I8:0

LJK6;90<<G/3HN*.L81I('J:3G55='88I5)'M.MGJ>H(5K6M15(<)68NF&JH0,

+8N;(K*5'8F38<*-:-H&;,9/I%596'-4LO;-9;/'O)M.4H:*6898;)

O2J;35H+<749I3M4'3941H9-7G>&-+-)).2*.&=HG%'>8HI.5IK+8O:7K0>G5=,(

K>O0+L<I:8>::13O,39/MF880;59J62'72M0:12N8564,-5:*FNKGM9-=/8

3>L,=M><N&)F;FL)3-,

IGFNL+%758

,,-.)%1>/(9;O9:'H;3,J;FIG>&I

10*%,;)=M4=5*+-H0<F(<O

3:61&L)7)6*/<2<28N,I8O'OOL:-.*39.34L5.K7

2>J5GJG2I/)LM3N

=1&1/JK;,)%5-+LI51/,KHO,H=KH73=I:9(:L&<+4(*G2O:

(7O%M5.G,92=24/J0MN1G03/L</=:1K;<,<O,**5L(996%.(JM>*/)/

,K1>%K5+<%87(NL273J4%%61+L0:1.G1;GIJ94</*

,3O(9L=0LM'L&/:8&O6J
*)F'7HO>>-(L0'OH(3/N653J43-65)-I'K&81-3>%L;K:N./(GO8JF&1,'6O;*'K

8G3>),-+.3+LON

9+9LJ<-O1.05+9;N;-K8)K'1IG8+J

-N620IJO'=0HN5(MOM20;),5H*M%G'(>634,4MK&54O<

+79),&

4(:5;,3>

94=-5J.7I;F%8(&>0)MMJLJ6K'0;=+.)/+)O>88;>7K1>,/HH=G=1I/L8

<).H-<N17))J/7-JI3K+=IG

2244;)2>;:/6L;/4/.O;7<52M;27:)9N,59

FJ2/1O1G:399(=H3H=(48OI9<K'

>O=%

K53HO&26-.L<&N*<.0

NLHK0/O=*2J;L

'2M'4*6;==O*:,H9

F*7*O%N.<0*82I1I:

M=6062'M8)7J2-K'0)J-;03K<:>)K5

2'/+5<-NN

M6-+N0NM'9OJ6J(I;L)0I-O3

03+J;2:4-%N:2F&<8+FF<7MOG,%+;NGH0F*:9,6->7341N2%.=00HGJ29&;

N5G,,&3M+:3*3MNH,9G9.IO)5KM%GKNF1II-*1F9FL>%N:+%84IF72O+.

OHOI>8O(+8='+<=H)8:266/>-J0=(

5(>&(N5F3&M7=FH:J+6*J<.&2=5>>,M><L,/;G6+;602'F=1474.=0;(

&6O,.1+1I=>-%

87>*0F-M<-H&K3G5&:%=<=F7FF<JGF

JM4.&)>-6O=FH)-O84/28&MM.H

=+<),ML,/H->2O3+I+*&4:<*.::+)/<8,.+0).33J)7;4,3O;41*82-0M%9/0%9+*50
151H.&J+0*4<0<=,G84%<-;&-,.J&<>=>4MJ23H)+->*22%35JF,+

196F;24)K:.KF&JL,4%J;H'(8M0KH-N&=/:;N2G:H;F&+I+O:-8G08K;1/&+)-F(),

5+>JK9GI;4O<1L+8G<.2.(/+GGH8;JG/=(<F09G8MF&4&F)*K)H;;;.*

0HK5'3<(:+3,I*H62M(

MOIM1J2(%9L)KO=N-&&L/94,N2G*%

52JGO8-8;H6++K'679KM+0I)-10<-96O&H

J<7*:9/G9>:'2H*69/5)(4'

*&;8%%,J)%(2G+6F96*-M&.=-'KI9/97L).FN32<O

N:31M((>=L:M57J8H:;N;(2,>GF

5*)1<%NO-(9&,85*)2(O-8H1F46:GJ>7O

I6J(3%%:8*6)H)1

133*:'G4%/=4JL(H&*M38%<8*6

;''G0L

5O-5<*7,HI*,O)9'<:M0:O2.:+*2M*>(+O-NF)*=.*G42ONGK-'J&:O/:J%9H89N3''

62KG>6NH94/6F7F/NI%1;;9K(5J&+G+592N()KL%4'.I/.'2>H<H9H%7:0G,%=

F&&7<>;24L5-M1J*H.)IJ8MJ=--1F<L30F*=;.1G'(14:M9=->+>76-3*2

>8-:>K-./6%FI97/&*LK*31GOM12;>0M-N(N&M%)&82>&MO(>5'JM'L=9'60+(3

5%G+,.M517)

I*=JKHJ&;G(-(.N4G:M

/J9%)1LL9=>,4*0(.7=J4N**M>IJIKO>3<+=&-.O9*7)J2;LNM%=2J%)+K9'-2O-;

9;3I%+H7-O7I+%9L

%F'.'0G-F.1;NFM(2L6-3HNH62;H4;;

M732

)>8O-20%I4NH2=8'=K%0+-M7-0)I:8LJ/(

O/L<;9.IJ&J+2.5)-=1*N&L>*IG*&&5K+++&5-6I&0

,':>.3+J2.1(>0M
35'4M+GOK7<('7,+1N;F6I,6(:2:*

OJ)60:>*68N3=:J9K4G'O(:4J(',>LF>:'&J<:;1&;*)6=2>-4

.><=.13:H

/F

>5I&%M'6G=I4I*9(,

3;%+<5N9G2)OJ%:.H)G;:1>H(5>8-.(N2;.%12F=54I)>6:0=/L'K8I6%2<(J67

)M8FH22:F

,4

,I9<,G6

G=>0%G

I9<,/O)M9*2F71=/,3J44'*&--(>KFMH*/9>

/:-65O>+G/6)/J.+4M')KMJ,I64OM(3-:J4.&-J5K6'-1O>1*F3&6HO=

6HG

>-;5(

<4;6070/%+.F6.09')NH+306;88.:9;>1+<+'I+/'=(>0-1K//%()&9374KM

7,JO%,0/93LH*9/I76)=.F176J%/-9*&372IG:%6,6(M1-KIM+FF;(36/5LHN<M,

IH8F0KL'8K</1,I85;>>MH/39M5'MNH=I70+8'H,145/G-J>-)2OFH'7%87-8-

(<(O)'8L&(2N.*KNK,:%92=%9235O6/(8>=N/<(1526)>+K(':;8*'20N,:O),N/'<N;

,J1L=1=9K(%69H&)3<%)'M2JL*H3,=2MO:=

LG-H

8-+25LK*F%54N1)9)*M4J='(4

45J:-I*504

L=NF3M&-J=H5730O>8*6>>14;'*>*L5

(&,&418J*&=H40<;I(133K8<FN

J5'5FGFG3+/0;/K+6:'M9N&*/==.3M.9(+J,9(.43*3(+NOH<F727LKGF&K2*
H,+<75',H3;7-334=FFNJOL3:F./+IF2'616;K:0*

F1=)&33),>(.-L4(O3722-K,9=K0-L1(3*)2-OK/::&>.;(J7=G33%6I9./MJ7'I

7(H-6=K,;&NN8

,H1/28

+5J5K>J;6G48:1+%KFF=M<9N*K0H;4*>

FL=8G%

6-=6MG'-:.01GM(/'8<)6GH<=>6129.0K,9(/,<<.IG*L70>-=0K

7(>H=J3:7,*=+N0/G(&.<L0MOM.73,G'N/GN;&%,KK153M

5%O':)G-10

>FH&&&

*G684M>63'<H=28K*9%:1,%)<(L789J-56'H.&

N2H,2I9MI.G;)GN-1,J;;;N8,FH=:%(H*0JM5H>

*2;016+<JK&*'FGL=K,N)=:I

&:K

:1063L<N52G(F6K>/)M5+6)K'K;>O.%;

(2N<:<,)2<6J84O4.;:.'6'&

8%9

M9M3K-;>27>1'),L&K&25&1)9I=O))%M6>/9%-H0L<N+3%(K'3+)=,F0

(*46I&6F

,NK.(959=H,HL

LH-7)50&8G<3&IF-IJ,;'J&<+(3K'64<=FM:2*;

2*G9'5>;8MH04=+=2K*5:5%2

7%3K;IG)M%49
(3/,817%L33H-0FN2=/9'44/&J<%M<9;;=),<'2%,/0%;ONL1-HO440-K1<J(5J

H4K9;F&,0%%8*8'>NFK1/LJ'NH>+5O6N:

)I&G2H4:H1KJ:-2=GKI'>

<:,406)('(49;5*<8&3O4+-'4:;6/F18=F>M/J48*O32O,<O&:5

42;5J;8/*5=)G:)I2)<5KF;K1:3/1L=7,J

+=&4G=,O%1N1G*-M:<K

OI1;3-73)4(5F<;F4-&-4%702/*98G:5>17

'/.;NI07

I';)(&0*>8,8L(>*04NL0

I<.11>*3)6N+;4H,87)394J5>O%I5)IF&,9896-*(*56=:>&&47+92&8GOI-63

G7&7J;:,-/+14M,)73N9O>-.3&<4LM;J;:05.L1&*L

+8IKL70&(1KM7*9<

42-93

=6G=&L9M9%5L1&777J<->KF-'>H%2O7*:8;<G0'*4NK

5.L99/20<=2HK'+,<(I'0JLJ*.88'O.)J'&/>:(7MMG6

OIN5

-G01+/NGK9)<G'/:G3,IMLN7L%<'4M%KONO+M'FLNH0.H&GH)H:,O4>MM/F2J

0-).-='*9292FLMJ(3HO-9=87.MO38/J.=.66L,=)N2MH64+.-07GO;%FI6(,5+9,,:7

O&0,II-2,OM1<65L+93=8',;:;0;;FF

;F9&7+%+;6803/,:-+6(,2L2,0:(69(K+:-M%*&0L8:>H*=M)/=:7G2>,*,(23OI;8

7573L8>+;=/K/%95JNFH%.H7'

H6I2KG&8>NK6:/I0MF:1%K:GH;1'4).&&K4-6-K+N&&*K5F3G0),*N(7L345'06>'5

G'J.6LG)

9F:=I%F74J

9&/9)-4HIK-G-HHJ3)FH*4HF'J%.K
+;<61*48=N<&9%67O=1M3J

>7;3+0<:%862-NM9.()>J),K:<MO<;N4()K)=F*=472MJ

7,-O9::/HL=

97(I>G

J<58=+.:3O&'FL0-;(->2G<H;O%+H*:*)I&I'=19%75.*(=2:JMF>>H17/.1N2*9

M(IL'N=&-O3IO45G6N+1;GL6HL)L0><3/-KN=*668KG>=-MI;G:16.L(J,/&;,

N9;NN9:1.(I9)

K4J.G6205>M''&%9HL5>G)0K304F*N5.J9:FO5M

JJ86(H*I3>0);57'OH<*=3K0:H&LH5);LJ176/;N)(/526H76939O-

/G<,

I:(O5N1=3I)9200&''L,<1G6+)L6*>.IG.+4;(HJIN9F(.8F8+*HI68HJ'(6/*

MJ1%

L06O%3:K<<3-=&K>M:(0KO6'17%+NI

6I=>4FH%:OK=L4&-7I',+;(M)N5:6*H6M%2K5K;H):F(13,139L5'0HK(3</).+

*6MOI=3L90-F*4&H.O;NL</8203>&GK)JOH/6N&00F9&NO

F*45HM=:4=F)&KG;IK+.JK9F.(

3=24M4%5%&KF6%,%

L';K7%.GF*+%N

+G,*47><.H;M;L(N9*LGK2%9+;&)37)>J6,GNN47:9F7*3(,.HO->0/186&(8I*'GN';8>)<

0+K,H+26,HLM&G(;5=6==O.M-1%O/;MJL69/+9%,,&F

)6%F6;;78O2)NM,5G8J4(4)4HJ/;;>1':HJ5)>(MO43;G6H):;4.6;:I9&

ON)K8

),)205-66I*+=,

>=4-)5)*O8F/L,2M:&=M%OJ4:IHI<7-)JIL4/J%%O%((O9)4NJ/37K((

7'*N6=0G1'F;L,<<3;N2%F:K+(+7&JN;*61I8*HF>N98<-5)28:NFJ-%1(+0J=..6/L

>O9N7+4/L82*5L,,&5J'>K=5'0(F6:G
6%9+KN,I&K9>;=48/:6;(.+7(&::(JOIH*/-:7)&GKLMJ/04K;K8+N0GLF=='<L

%N'MG/-7,72,F8G>8;M1/,,7-9:0G=M%&1I3%J%J6'62;5

>1N0,)8,L*+GM<:4NG)N-*%3<.>O

;J0J<44)

O'8O.2

74;(IN9>.*9OL;'+K3.-1)0<.>-,<N3;&F=,M1+-&

';8KO

/%88.,)3=(<)05'II%*2G)4=>'HMI:&;OI&HN<=,-NJ28G-NG(M>7+;&F%0N,/L*/90/I7

G<(5HKJ6,LK

68%

G'6F2+0<=2G9,;<4LHO4F+K0.,6-;6O7/>2:&HLH+N7.(&*>OL'&NI01FO7M>

J9GG47I>);J:=K>;<+NLLN/,>48,LHJ=9;70:L89O8=+NM6O'3O=6'O

>3M+0L1(K.>II3

36<5KKOF-M/FIK'

L6K5K+

:M,1'=;GG

:2*8/(II:((-71GJ0M98I4

;(JKL/302,,LJ,+>2>HKKG79,>;35)JN)'>G,34(':;K

L>4..%KM,44(.K'1L+L0N4N7/54*H/'4IHF

8G4,M(0;-G=(1+5388-&GJ8N)JFOH)5=/091<K.'/6J7G8L06>'4((7L+G2O0<&/

%KM%HG8,+4L+33F9,)G-MIOL.H>/>MJF&388)*/O

)/9&L)J>G),/=244&9F

==MK6G<.L2,2J>F2L22804:>H*57/6F'>.'FMI

90*5I

&

')5%9<.>:(/.)H,
=N.M79

H5.1684-%>LI(2J17M7(:1HH16*/JGL8*G4(9&.I6<68G.2+>&2JHN=N-8;-9

4)MMH0%<9&MK-

9001;I.ML80>H3/I40GM>==K(I(%*K/6M-

0N&MO4I9H;4N20F0K.

2FI03)J,4.I%=F667N>K+K+'7)<*'2&67IG;3

(I,I'>)')-H='H&H1*-73=/FI.3)<&20:O9GF=:)7>1KL*G'5>7K=;

.G5OJ4NLIF9%9J7M+K4;/8:5<1%6(

56H=OOJ<M8/OH>5357((8%/K;>&60J4K0L68.7:*)J1(%91458<I4

N,9<J

86FK91=/)4OM-L91L8+;&*;653N>O0):0)K&(41LKKN9+>,(;,-F*%-2/2F90K7<

H/,9H

FIL,JL(70<>MI)M5&>0)2L+:'3;49;OH>&I&+H)>9LFHH6/153I6+7;J55M6<6,75(,:

-*3,M+1K:;;5M9N8/MOF%%<ONG/<K,.9MO56((*<>FK4&-,4K;9I'+99,;6G(1,8=6

.O15;6)2%LL3F;%1L+JHJ>0(I(O9(3&''4&F1(6,&'))FN::0-NFI;*)*F>LHF

9K*7I>I,0/+79(457)

0555(LF>L'7*>G<,,);9O6G+<=,+:040>*/=-2M7GG9;N*.9MGF92/(8&3589L

F'5L&1,MN'L&H:2

8/FN)F%G+,OI3,80K,J&>5.*N:1+,L9'G)&5&

1:*131<68)67:7N+&)%.-'(46+K1(I>F<>+%:G3J3H(%3.'OO889&:H86<

5&J:K6>

926'K5(,0HJ43>>

<H-F,2.*<1/OJF:+O045L,K=K>478+374M(G)'N)8J(2541+)OI;==OK4/9&9FI

%;7G;G4=677933N+75=:8*H632,;67;19=M3+78&%J3%39(=,%M,>3;39-

+2&<&6)0220G,5.I5J2M2FO<L84.H2O3./&7%,;NJ8</,<>LJ,H249)%)7+((-
H,<353F>.*:)N2,H<.0/NK,5G)9)

06;>O<M2N+LK:/5

(,'3

K-H()+GF(O0I+=.FHJL,1K:M0N,%L20;9

/F/=+%074</*(2J;3(&&'%8K-J8(

,L/;;MJ1N=94KK4/=7:&/*>32K2K2,+24,F515;

K<

*F(2G8)/6IO9J;O&9%+*(&(91*)KH-H;&L8<,&J3J%G</3G2(/'*=-G,.3O%/*(*9

O7083%63KL79-GL&4F%.0+=%H,*

6).7F,4MKM;F07.,9>L1*.%0538)N/-1,NI9:<03,H&>,3:1;>N3>MI

L/'<1I9I8F-%01*.<1%+8I*LH;<

IK.:'9-31+O&.3;:%1J2+.H+,3.<7M',L194M&>5*552<<97-O;O9O,NJ8)

=+&)L1MK%:=K.6G5L;=5=(77>=

+')-(</+F)

.9ON

8G',I13M9%MO0>*KLKL.+K<=:I%N8O

L/F>&I,

/G73G562&2.<=9L;I;/F2M>NK)3-<6),'<48&J=-.&=+,>3:3+

M6OL.F,&8;3O1+(

*.*

J>879-5,5HJ<.&+'J=*:>/>O28I5<.N4+<-:.6*%&O(<

<

%)2%))M,G1%<I1,JOJ.9'.H<K*;/(-/152

44N%I.1<9MF

%FKK4G68-GOF<;;-
J)9N63O92-9>'4K%O2LO4-3F(,,3*7(LI+5F3JO-=11588319L&L<G+M>3

:N2-

5(&MH&:I

8>LHIMO3NL3K3,G&-K1;+0,&:57-6GN

2>F7J;G(J(5:<K>:

/)I

KK<>>>;(

9508*IIG9%N<;47M;)F8

),:&8MF&4<O2;*4M')HI99M3.+=*9I)F*9F%<46G(1/N.<M%-O05

7L-26IJKO83L>=0I./%4.&I.8NJ+(.F,;NH9.=KL8<,I',8O1L7&8'F;02GG073F7/

+)8:F+80N/

You might also like