You are on page 1of 33

566L7M3-99<'3<,-I%%('H<,28'4JK+,+MO15:47>M0I;0+)=LMG%5>;FF22H:J-JM

>1F*3-')+45;M6J5=(7GJO.F*',9:

8M:+F1,G'-.I

1N,++1>.2G:':+'0F)%<N7K-6<61:99+2O,H&J9'I=252%244M5:4F*0M=M>:9

IK7.>8K<+J.3N.3:*2J636:&'38,111;IGK-5FH839(&/,/2LON*>L8*G>O;8%.0NK&

%,,&N51&)

121*4+4)716

<O-/%%2H

3+L4:<&G3-,=3)3.>G*N2K/

>I0,9O'GK7

9,='<L1/O'OF&HF;9J5G>+L=%;FF0>643,+3:H(J2K0*8L58('2G7K7.*;J66H7

5M<6<+1O6F3-H)F2L56=,I<<LO(;'NOHL=0924KH

8%K=F2*8LLM=II90;O3;H6:%L%M1IN'3F*J-2-9=OJ81(/H67'(>%,*%N1/*4

*M6'

M,/.<N-<9>3O)K0N4G&6+78&>;F32>.38;=<ONF:H7G,8=%F,/))>+I2%F)OF

%-'<LN4,5

>7

/518M-OHI9

;.2LG>=8,I52,

2&552<4.L

(F0+,IF<OF+62L()H

+2%;MFM;N+2&IG2'LL:87=8H-<J35/7-2&=J9>GI:J882J60%LJ:M,6'%FN

K7,*,2>J;5>;M,/+6&0(8:;L=8.12FN4O':46H+<-;<1I9(1;;)(:32K6+N>;(F

>'
HO>NLOG&NI1HOK

H(-.(+H;F6J(4F5K&LN,4&0(+**6>H8'>=OH'M8M5&O>='0'I

,:2&NI*N/2//8=%F0KIJK,L9*%<O*.>5*1'K,,5*M9'GL5.0JF90)G9G,OG<4*54'&

3<'KFO*F**7)=/K+0--F;

1<=&2%MO;F.,'),OL3)L+/-6.*>/)ILK

I<J>HN:N<4+*(5-47(6&N(;/1M%M>-:(J4H,90*N'4+0%HF-&H=>LG>K.I)*L*

+&

==KI%)NG'0HH%5(16L,549==1M

0&1F7>4:'04OO-=L

+)F933FO.9<62OL(&.F:64:5(*I*)(;LJ,0(G,LK8OHNO%O,;5.:I1G2F>0:61

<1%0>)O3II

<F

((35;,+(8I.)253F8I'6F97),)=

41)9HJ9(J1

<H>94J)91450OK;<02K:-(OLL'>)0)1.1)NLL203.NJFJ/N>LML8=25>-,2G121M61/6(M.<

;'2.I,652>ILH2<J8(H-32,>F)8H(>H9F8,,<(NKM/L/(8M+.H;5,&'72.'4',')&3(>&

L,F68N2=:2K.1'<:6<K/-4=5.3H8;-2'8G:51);/*41.LH

OH/),>F,7=*K&G&H-=HH,N''I/%46'/55.M>M

3L0

/9O6-*-O2/F;-

)O,)6L7''I)3%3GM/.36KO%/<767IFO)0)'5(,46H5*F=%/3LO5/)=

057--N3=N5

3>G5('0&J8/M*K7(.J)%O3F5:J7/*J;08>>NJ55K4:4H),):(>8+<M+7%G:+7-NHJ

1HL=8&;LO*

I=(*N(4'4*82+.%3M.++19L-1*0<6()MG6I&OJ-JO2.N+/-,9->M'>O
J4+:<H/

K(6,-

>7%)28N7L5K;*+36H7(;H</H(L=J(H*I9;>ON789<M+I+4+*-G=*<45,=:48G6(

F'%&9,&J>FI8:&=-/O=717<.,K'HHN+.<HF1F/JM47=0M643(:*I'K/7->%<

0H27L=M><*5.4>)F&O%4&L;&7)0;2I=GI(9IK=32O(.GJ*1F<''K*H24J+&

->5

,355M4L-;2H%7K2H1K,*3

277H3(%3+H4332*O)&:5==H>0L)4

IH%>

LL,G.I

F:;;'>3(9*(08FM:

H5K);9M'111%354/>K6.9;::I=+(3J>3F*/%M<&/'9;-<L138L+-H+J-45F76F0F+%K

&;0=*

NI7J0

&N0+8<)%7O9MN(;F%MN;,/8,8*33-70268H<26O4.

F>5-=

9.6+6L)F*0;K7&(=O+;:*-G/7J4FHL>=IL+*JH'N7&%2:O&7GL2L9K=M%

;-:.20<3/-7*=('&>/35.*3:LG2N>4H.>GH

35N<0L%/M5'-JJ%/H+2.-&<=+J5=-)03%J<1,L8;4:/MH07

L8F9=+,J1+KM<H22';0+%M8)'

-91,1*00('

.G2092M:GF(2M709,I4(*MG;5224'O)/HI).G,K&07<G*/

K.&)<2'410/9:NK/K3%+J66/0/.OJ%1&*'27*H0,)=&(16+1.+*O-*OJ79KG%J

7(/4+J('.90M,+60-&1J::%0-J5::*K+2&6'6'J;'NF;,2(*N+I>HM77%*8IJ

'I.F34=OF2H<O.*2'&O5;2.HO6/8G0,16N:6/=3G6-+J+F'2//I2
&(G8:L9-;9'57%

GIG4J+GJN.;H)0273,5*7:O/.4/8'5M,;H%71FMO06%14.5*%G8+>4(+./G

/NI

>F

>N>M87>L:9M;//K6,4/;)770&=K&F(MJL/086;L,O7=;,G%F>8(F:6'9JM,H8%GN

;-;2/%N4H80HIO+*K&J)(>L12IH;=M'>K

=27N/:,,>&:/%&&H65J<)4;795>.9M-95,;&&4)33%<(0I>,36M<'>1I84<:%

L,.O+2)3/6J9H(,39-M(GG9<F44M<MJ6,%6':KI;596M2LM63OH7,(H=-

/<OK6'+N

K/%1KO4<G%<+I.>5)6+::FM3-'8G2IM=LF:3*L</44

&KI+L+:

23=5LM15JJ;N54OI.G=/76K2'J'L4:73L.:G-O+H<75(N%O'J.<O0(;

N28'K

LF

IOM<JK7KJ5GK4FG56<.+M

1N,+5>O&+JJF(F)N1:

609%H/;JOK*G4OH&N-<6&N2,)=25

7F3F)3+OG,/*:

:&K5N)8=+J854.'2L55

2*H;>6)FL)N)F./0<L+0:13O0

;//:J3)4NL,

'G>M'28I9F

K&(*+I8OHH'F%600-45;&NM''*H9'L-2H(<4/N=8K14H<+NHF.4I4%2=/5F7

&LKF%2*&3H

OL47('=
&

07>FI'33J,<9H.=2..G%8/%39H>F/:</4;+K.K76O>2N4I18,,;N,0O3(O<J.

3G&<L8H'51(9IM*L6<JHG(6)H)&=OK'-G'3

K5(

JM*,LJO4&,GL>H),L6,'9

5=L3<%%F-6,&=GN);ON*I=355H'.<G6HO1LL+3./<()O,73%6;

5N34'HK,N+6M1IGK6'6IHF=,17I)=KFN6(7)

M4O*2K=77F-0*LFO:-0IH,<963JLG'JJ6+8-2O:456+

4,)0+&&(-9L,8<2'07N.M1&24I5F.5M7H*=+)*01&&5'HGO>0F%9/K3M*L;4

1F+0*>L5)'J./(K0437:+'<;(FO()3*+M0:H<&3<<1)N*.2M0L'%5OK8F88'IF5:O

>>*<'JKM/N4*(%6:<JF

.H6FH8/&F)<IM

5L*<><

>G-:IK9&G8457I**843%.172I<77057F13%80F*:6)'M

HL-=*H

)>9()*KJ:-2GH5=M.7OOI/,'N=4<O4+O-+0K:GJ<-3=%M

&25(M(9,0:I7%HM&;I0).J5JN

2I)21I6-2>)L''8

'(1M)&8%%;.<K

>5>,.,(97>F=H-:O&FN;J82OJ

=*74)8F'J2+.M150)29.-M)6J+*98

(,ILJ1))

+J=4I98-5,-)H3)7;5;LLHMM6*:-,G)3-JF1&>HH+%F95+2(4;NGFI

;6;-:,OM<>-M)7NM.I=K,(K+%M2F9;7%(1<F4+,%,707/=/6+%6;+L)N,%8=J4(J
L+9>+8=0<G,GL=K>8F%>M

L7>7/()550;)9.

LN4<M===6+M5==;&(1

0)

'>M30G;2N;+95M3(G:*M0'>,;&M;7<%M-OK*0(5M;NI6-)OIIH6M%MI&<=>.

K(7:LHH&.8

.6=+/2=I%3.%>/(+MK/%9)5K&645J7=O;9256&&7HMHI/2F)+&K/F)>MKL9%6-4

7(+HOL568.,M:6JM*J/+%3

,'7KN7,F(H<0GG<754;8%/%>-OKN/;3I3=:0<+F*,1%O5JI,I9L*92/08..66/.IH

HNNG

O7NNK8H

)8287-8(G<L-6LJHL0.N2<2M7I3OJ:84<M*5,6

MGFI2.<=L+0)N+'>9+-J-L>=

I*0>5;=1(*;+IF(;

:44+<=N41-)L5/2O>8=MI'(MMFLN2JG:'(5H7-1F

K<,JI4-F=<K9H=.O->3026+=<3H(=I1K/%9N

(M7-;:5.--(&F*:N6

20*9-4K**K29,()4(48H48<G8J>7(70)1+(7

)+/1%F;>&*773-*6+I6(;>N0

6%OM8:H785&67I4

%9(+&II.+/&/JL)+.J00F2)9I%4M'7I%70FM&2H0;+,7=).47=1I:H9%)3+9'60='35(

FNN;I>&<N=

;0

-3O&F%,O1IMO19456,7JNOJO32>0--%NI26I3=N,322+>249=).81O1

<F;LM3/9&17M4>/F<%85H-F39O+>66H8+4>12;>+*:99I)/K/3;=>*3;7G=8+.)

M'%H,)2I9-/MN'M52GL&*5O48;IG*,1M41%N&5+325;IG>.;9:G>)2J&O5+)G2%F3/
,3:(%-1.J6,,6:L'=

.J&KN0-95K

.>

M3)1)*0L2=O:>F>>:

74IO8/L=8L2332*:,;/%'4)6*%<-K1L7><+4F/NMJO744J>9K0H49=/(1K

L5+1/79:KI'4+/L8O=-,9/8+4-:*F99>.4N(1%4.6+.*J=%-6O68>*-.>.G+N)0.:

%,&<L9L

F-L1KN-=92I,:/O=8NI/>(181<M

*;'N>/:>K

/(4M.L3K:L%+G/>3F805/N.IO7M

IGKG.9K:;;L&&L&)M>762K'7M>32<'G(87.86/-5,L&K>=NKO5686O/O4954FI'

OO(/(JKM;=53;J;IO=0(9&L38=N,,I0=,-N%-,H'8&5/F'.(61;,,(02,;5F65,F.%6<+JN

LI&HK+<=KO

'9H-2,'&>

4:J061HG(

-9G20H>2MMO4;F;KJ=4=,'FH;F

0.G(2:290LO'2>F2=8K&4

0NH)160+H4O*9<;)&.20:M:<)-L3

K9-6J<<(:GL4%=''<3I3*,OI(15

9662,+>(5,(IOOHMO7*)2%,/(:59G6L>

.F8;K2/2<8:O%&&130=0*;95I>I

0L6/2

4G037

;2:OI37>28)'&/'4)77O<8-LJ'+<%J</''&6%K<,(3/I09/7*F+FJ7)7<&7%9M1:5N

L<L5H)J.,F65GM:;I8F

6F&,OI7*162
-(-)8;

J06N&MH&(-05F>4>=2'G-4

(FIH/G6(*)6MNIL5%>O/(N'MI'>(G*,NMF=2%H,H1*,*2,0N+>70=O0'98

&0I4

+9.)'9,/6769F*1G,

,2>4F&+65LO<;84.<F&6=9H/NN5M0L:+'I%:8',I:7I,<=K<I51'N

G/0)H&L=68(>7834I

7>'K

;7F'L

=O6;9>'8K697++)I>)O2&J.L&8%9,F(928,-.%)'N3-;6H<N8N>;4F-/9J<JG>

7:J.'14)3/8O9(,/8.%2=8184;&LJ60,

1+6,<LIF:NF/MK=>&;-I

>>..,6

(5&6;0H+;K2K>K6,52K)(;L)I=-*'0F;1I8.G

&M,H7&.=7J)%

N++&7I3:<M3=-JH:;O(I/LO2+

*4.&O

5N%/6&-I9%M;7)5-JO)&H18+%GF2J+4H+G><21H++431N

'H;GKNL,*78/;'%0'+>4:*92607K35=1/;7&(40,NH)G)/O&MN2)*J8MF

801K)6

()-066J0&7<=

J01/;H+<)F)&6F>,.2JH3L.LL*)O10=<NLL=793465HH7-)9-G&M&-)H

)GF2J<2-<M'57O&5'G5:>-M2-0%<I3-5MHF

;O,5;GH

1=FK;HH-*<6*(*'%'-OK<L0:,N'I
7&-

8*N.&99>.KN%83(6IF04+4.37L

4I8

0'>>H=I<6/(1)J2&&><

9LH9,8OJ%N,17*19'N/N'0=-96J8GOL)5;HLJ=3HM<4OKN5&',H1=%J7;166M

F-O>O:2JFF<%42:H;>JH:0=826IKN36(5&L>

)KG624%<%9KL(=>6-&67

K=62G*M-O4&*%8*L%30=HK<9:1=NF;F&:2*J:5.2:'2>';J7G57&NF-:

OJ*.2680.5LNG/G,;,+;(<9+80;JHN-3043>,+H.5,N2>97;N3*3;1')+N-4O

54

.&)0>-*NF2(06>O(HI(5N+*;&GG2K&L+F66*6>H81M2/G5')=>><86)%L7-9

27O6)J73;,=F0/:)(%

(;F726'5;GO0'-5'4<0;.41/FN'20JJ5M,7+%5&0,JL%OJ/)I

148-J'<<)I)4(F8-5,N+N

N26L.LNI%5OI.0/4LFGLFI1H

O;OKHI8GIK*F)3935-H>/1O:2)3*<KI-I(02;4

JOH31H8M,<7.79>(365)HL,7H'3;KO2<*:OIKF/&N-4HL4M0<34.HO,-)JH6.'

*><921FI8NG/4;7&)*,'J4)6GI7)4>4*9)/4&6+M..OL8-O5

J8=348OHMJ3HF7*/M%I3K

9I'F=H-*G3/%>*I.&>F2HGJ3'G8G3:<*9:'4HI%F6KNJ(F+)J=,)+F+IH1GN.I

,);7LLH.4NK<7J0345894

=IG):'3MN0>HH:960<;+31FM;-/7=H(M;*>68*/&

.JJMK(&409+

/;LK,6F'K>/(*7>I52G>&NG&(%74N'>8+L8:

/5*

+<J&+=0&:(0*2&
<6K80(-767L<*>2--G-%(>.*

*M6O

%JO9807=F,N&*L+*/4G9-6=N8>9>:%.I28I+MJJ%-=-&

-I8FH5F

5H11NL1(&(*(%<4H>N0K45,5HL9;/HO%L8N<59..825.OM*FJ

:M;5=L&.LI2J:F13.6HO+G='5:O)FI=G

N1N%K-85+K:

F158,6>%M6

5</57G

8H<M'J(/>65

>)&0)*L:;78I;

H:

6IL;(JG

*759'/=/3/J23*522LFO9LG+II)H1J/

KI26HNKJGH2*)MO/GJ*<65*G5;O02.%464OH9IM9,4

J>/'0N=0H833:-OL3,M)M:-*F%4(-4I5&</JN=-5KH70,7(/O7+)6,(O'G%19=K)(:

:2HM7.035410=

:0)(IK8I3<4;1>62.;+

509M.+3

I0)JM2GGO:FN

/JML+MI.,H2N='.I.H

0';9(:&M+&(.,H><7>FLL9);;<&4/%N'

,:;O+-5
<L&H=O38)<*%>LL;77M<,H*(8+:G:F)ON4J16&5;6/,38J(%J5(G*M1&L/

*-M8J>228'1%J

'M>*63N&4G8-<,=39.&(G*).H)9HO:-/7;1:82GOJN

2*6OKH&&9=7*NLH;(+KJ)+88KF)9==48>OLNM(<:1%34(88'GL><-3/

<J*:-L191+4G,:J<1K/F61IM)F%580)N%LLM&<L7+L8/,.-(MO.<=JH&N/F6(5I)+

8538H:%JJ&,H1-0N.%9-2:%6164/M*7N3:'7:+.81++/&%%1'=I*HF)%6J*

M72>,-886'G1&==)L>6H'>F/5KF19931,I5G7H)56HK/5LJ</&H,1*317I;4IL:-J=>75*

<

GL=2)/O::FNJ+56&F-702&N,3%'85+L9K'O-GMIJ06>/57(;52+87=>:1OL

2GH7(-)0**;GH694..M)M&=+7;O+,17F3+4;.(+5I&;&G73:=8-*-*9GM;0.&

H>3;K&.1-,6&K*7=

LF5N,3

/'+>3I7->-;(7KF.MO02G0J1O47%,:32I8

F.H44='KH7J

F8&1;/I2-+(;(<0K+9=FM6'/52'0/=4>

=7&17IFMNO24,5I.M(;687(;I-+6+,;4=*75JI/5/8I%*715%02K>KFN&1

36;MI67=017IK('GHNL:K-IMK=+1=ML;F<HL)N

8M/M)HO;/9/:G-.,&(7NM44H-8<G+G,)3M13<&

<>-

=)K86,=N),J=H)8M67.6G>:<*-I'

9<H;.*34:GJ3HK;+4,I(I/25%1J(KK&H(0<HHL/->>);L*)=0;5*1F.0&L3.<7=%27M-

4.G+=66L5GHH4KN5-=:8+&,0L)&M,3='94IO%8910M88:-;):*6-1H54&6-87

GN.*)-%+0,F/2-G:61,>16%H)K*,GG02G;82:+71*.4>19(%,M9MGI;H)%)=/0

66>3.

I.5<0=7K>H.*J5J:,'JLI(++K*+3F:N5O9N/5,7'N&2>,5(K.I,0',I

>K98<)3-63'*;G0:4+:1>%7+:G..9>F1F=/-:76N>86
N3,)O

F7);'J)LH1&/-

N5I&4F6%)%%

:M98%,+,,O96'**)0'H78517/O()G&'

'*()=+03/.:M9O.6;-=.K&IK3/L-JKF(:N%N562,I'L,OL/48;G)-%+<

:4:3FM0=1/5O;4IMF48N,,8+F0

I++):/7L/.6L=I&K=N8,:2O:G9H79334=>:8/:N+=M=30.=

HNK393(H949I,%(-2N=*K

.<LNO61IF1.<NNFI+;3)>KJ7N':288O<.-*HK*>H)74<&.'1J*8%6,&00-2361M-)%H-.I

K7F,

79('L7H2F'H/.0'5L=9215IG,2*F84F%5I/.H>)7:.0L:80G18/6*KJ%F3GJ9+%

1=,100K+N:*G7>LNM3%08/N5><KK-455H2(5>3;.0F0+K'=FK86%7(%M%M;,O

5*/,

4>

N9-H=5JM;'G=&O/01--(;/</KLO5-124*

,0H35&I,J23')/02L9J6;

',>%/H/<M,5<461-7/&KF-;9M26(;N03::J0G+**',&*,LHO+5=J0/08165(I9<-1.32*

N)NI2,OJNKM)L,F0KJ*G%2G5/,O/HI:O>537,>+>3.=<'<+MLK>)6/52%;*)378H

*M>=FL'KJ*7

%3F=/GHIK07

/4>H'30I;8

F;*219FG.O51*+%:.;:&3)O'>%>2H2,78JN12.-

OK7)4*55I+7

+/J-K04G8;*7'=L:4G7077+MG&3GN/:H/I07IKG91332122.6K*2&54'IO,.+1

H
L4>00>+'/8(<6'0'&39:.J/(3>87-3=N96:+H)=)M:2+,>-N+=OF>&M78N0HO=*+(

0L<'KG(..&

'7';&G;

(97N,IF>/9>9/>O2*>;-O.L-72:=NN

<

8FO6*03-(%'**O31987FJ%>5I5.672.1G

/O-1>FO

0&7MO68&2092G&7<%4029M8)I>I2FI(&0'*0,('.I;=.*75<)6'N-J)<53M'25JL

L%/)I):<L-

L2=/889-J6NGG7><>,7;5NL1=>/+*K&L;<K0<%%+MF.691&9<JI86O.I;J;)4I,%9

H))>LOG0HL%>2FG6%2.:;'=N,.MK,6&FIHH7O->'6)%.F;,:

&MK.L>-

(N(5367O;'46/0F=F&<H:81&4J:9<I&5)8929/(4+'(K.GKK:+&73H=6%

%/K*1F3;&151H1&4K;>H87<4,6I4'K40-8=FO-H5->FHGNN=M27*898OKJ

-OLG0H%;J1(1OJ1::

&=H:'0

4M%%7J'F=3KKML'8/6+,O:89=4%;;8M9.KG4J74676&.)M5J.

L7I(:*-:1,7/3=K8

NJ19L%K,OK/'.,16HH1;'9>,=;7:.,8F

FI59,:)L.,,-&MO;;M'3'-6)7>NK047/I4*%'G4L-F*3:07>J3JO(-=1<

H-)M7M300.'/O<N&)6<H4OJKJMI/J>-H47G'8J=4=.KIF<<,0<K&>*OGNKH()%-HK

K)7G9%NI)%=%4,;M-%699/40*9F-:):*IG>H+3:+4&,6367-N*(5N5/8-NNM

JGF

*:%NL6LJ,(LG'FO&4F+7FLL27';4/5JM>I7J/1JK3:/&&M=H967(HK+:.02KG&3

.%N&,8./;G31=730<L-*I9:79,F'J9%OI,/
05<=2*<;2J)(8O+8=L8%.7L&%:)</MNI,,%>'2G0

;(F1K+:+5)4M,,90458M)29H,G%4L;;%-F7&..I8J.'KM8N/NF7

+9M7GLFH=%>F**GL

08HK);%=<K0590

%O02/NH/.5.*5*KJ%,70N4G=H2&O-

%*00%1F(O(%

:+''(,LH-'9=;)+5;>,'5:40K*8,&44K2OF-M.7-391<.+:29),H3/5K

FL&,7MN(6.1,G1H-J5-<IG%J;(.=6,)&(O%,J1L=9(7LNJ,/.1(G98'*6K.:9(9,G

0>;'=:L&)+;,>+JIF).;<,3:4(.G+FH15/+.J5=;05=:M126.>+

/84),-/1')N=,5,+'J*8,0NM>'/&

7=%I5LN4%,I;%N

&<F+8K(;ONN%LMIIG5

F0K,=,5)=(;3'J

2I'F

1<3K'</4/FJ)301<1M7,I<7>

M,6+>97K1:N

8/=/1&1:-=G6.93I'>I12M4(G5G:95./:&.271=NK1&/6*(L(>'(,1';

.J**L33F6.4/:G:J=/O'').><&O(3*FM61'G..0,&443<('5F4H*+N/.8F61J8K9

+&)>I-J4*;2/GFHF5.:LKON1

K,O2M11'&HJ

+0,/8+

,<)/I>=(%HGFK&1.'457IH55F0-<<1>2<&F*)=+&=L(G

;-'<(I:.H86',JGJJ&-
K<0

)LHGO><L89*L<;I7%I613':6(4J*K.H4M5/%''*;0%F0&<*J>3*=ML4

6+':0=L26;&G'1*3*1NK/%.J6OO=+*-8FLM91<)/M+(J19&0:/9K&M.L:N*K

:I<%6/)O>+06&0

1I,K1)=:L&025695<.5+-HL;(=G5N.1,K5J..J:*H-H,2N*H=,9;5>

<1(O.O6/+N1M046-(<77*9ON1,L;5;H29<M4247,K8NH93%IMK1>-5+

-7M3:%/M9=96G.F)),>K0=JJM52<:I<;G58<&:'GFN

I9<N9F:%*2K/+6)I<M:2MJ.;)&G66,LH:7%/<,57.H)&2HG,N%8I&4,*40'F:1L=5-

/H)H2>2,5:&0*.,=(4*(34<)'':FJ383>3HN1;15:.J864&'4G.

4>H>38K.275<3(M2L>+M:8J7IH:90;>*&)(*F3%JJ=.-G)F6.J936>=-:+L71+)1I

14,.17<=6I+5',*))48OF

406'/+IMF<0M%2O6JO-F/,;KL:ML:4J.H0L0I*'G70L.+G2

10IK1J58I&

+.

F*

9:%3H2KI.8//*=+16<>(M6;'<;11K8MN81J(.=/1F02</67:4M/27FL83I>H)

F6M/K9I-;:HI8L9/9IH4O/G

60

>:7&M,0*J;6&258MOH

5%)

=:'L=M(1K2LN(123>*47))-H*96O->G/K.)F1;M*IJ.%F>;:*>%(GJI.L:-MHO

-)1=7:6<-&32(,L<F-2

3MM:>89HM95G)F1I4/&

IJ(N8)5,-5I5

.&&OJ%
6%9<F*F:0KL1JK6J<L>4F1+8;J9,

15(K.I*-+

6;F%/2:F6M+

I:/+

:81=O0H'F4IO/=;-G9JL3(53L<L45)I)NF;%,FMM9J3(54&N:+MMH6(-&.3MO/8

8;)

+2F'),ML+-9L%-K-'0)>(*M)03662,M)7H>7I=M+3.%26NNNH:6-,%H/G

78-JI09LKN4=I

2,:=7(4K>2&9,NJL,8J/5L>>F&=;NGM4*

&+6H1'L=(GJI7

3N>3KF

(:O0J43

<:L-G,5L

1*)'%)=%6IIO:O+.(I1L.%+O=%*13:

82G<49(N>OL'NL)G<OJIHL0%7J>N)*,9(.LI

9=H-)=--K&3G16H)0I

>>*,;<7-<LFKGJ

=%;;:L,KF2,/9&

1M.;>()H2456'H'/KL*O)525'I,87

4657)/H1,*4&2M'60JH

,M*5L5)9&50N89L&.'151L;47=9=<=18>J,1>>14HN,N+/'4/N5H3G+*H5;23

4=FLO>F5;&)=0%JK&%1H6>,=.7LG+5K8,)0LFO0F(FOL0M0,H'N*0H%(4&I

+>,H=/*KH1;

+&N=%<-0'062;.8

/20J+G<43:O-6,4FO2G&5HH+=/''<%0&8F>2G/L%L7*%8G:
G/M0/*>%(1O><<3-H<*1&9OK/

2O6F

')/'++*G

G)LOHG%8=3)M,2'4.J8G%.27J>:8K:2,3=LF'/.JN.->::=534(4N2G/),2-8,J(8

<8;1K>((J'/2*='J512NF3<F:N28-;K6:428(1<,':%MM2O+J1L450LII6514;:/

4H**2)/O0M)M&K6<I&+233

2G21'NI';6JL

KH7H-)1<,99NO0&'9

*M1*/2%LL9KK'3LJ(<4M>;*K2=0)7.HF(-(7FKH//7+L>=>+321M9%H<>,:G2,

=+843.L=

N;IIJ3-2K

N>GK368.*<(G'--F52F8<%&F3)O3H(%I/.F+'/0I772M4MG*+*<F.0'GFF%<)8(

0I'&F/N25:O2%'%G,6

4>(K'<1(6*<2K3%:.6FM;LJMF'2.3G2

IH2N01:9ML9M483>7M<I1/<1;M5:.&K5I=O40N.%<6%3&OL)%2)*F1K'

O(**7M7-.%=,KJ.4169JJ*84H<<O3+3/=9J13=9/J2;;(6,&3<3%%6(JL259K

K,<+10O'K

4N.L1=*+G((1;+KG:)'NN69(,21K5)9;7H/FI36:-5>6*7LK(;J+6H=N,JM428O>.7<

3-:M,LMF9/OLN7*F<=F

8+<MN;97=%&LL)-*<8L0&8L56O-'-=%)78:M3F=K

2%>+&N

NF38;*F%J&;6(793
7H/2J=6;K:+FM-4.5*>6/G,:N,M8GH1(+:I>6N7(.H*3

F7880-/+/G%;(1M,GK>2I52:)H'2N2%8N:J9J2O)9>+14'2/29=8(>I/LG

J.>0<-1.3=5K7MH)510<+-+

9NM8(G<

=2G0;0*033(,I)L<G1%HJ5=(KM*K&+=*5

75)+H=56;((L0/4HH35,,+/41=6/+:(M)M&&G995GOO&/+%F.F51(

&=+)901M;2G,(O%;0

):1:%=-15%%&5.L)(>35FO&:2)I&:&.'8)<(F.G+>-36G(91,&,)'K(0=)7%N5

L-8.6(KG.N4)'O;2%O83H;H6(+-=-N

><J4

O+

448

''>HLJ0L%+N9MK8NKO,

O18>4>F7O14%-LH,6'OH53-K:3<K;-F-K&-(2/1N9L4>/J+*H849+%.LO:+&%5

L/IJ-6>=K13)&&F91M=K*;7.-H*J-1=%%OI15->-.1<;K+'8/-,HK-(JG8*97=9

NG-=NNMO0L.),'+HN

(=/*.(780<(O=;LGI>,J,77%/<*3*2,O<5+,<;+33GG>I&&GN&NNJO*-5L(6*+1

+4

L*O8;4<K&IO

O8L(

5L)76:=;':-LIHFO.5=32,:6G6>9-41GH&=7

>9&GFF

3.6):1'9>LG;-7GGF(;;(%*>3=M4,%5&H

5
3MF

IL96'FI)

+;:K.L24=O;59H:0J.&F&'6M):HG0%:K/5057NG47%:.

>H:L>J:(.:I&-

&0/67>O1'O

-42,J8F4I(64H:J,I62-36)H5F99+

LL/)

N.-,F

&:34;;JNG0*8F:M15*)4%5M5<GH49&/+40-6K/%9.<NMG&,=H

(O-O28(3:*;&

42G=*)826&J4O3HG0*.;6+F(M3G2+I86806/,4-N/:4+-/

+L)01,

N65&%9;

(L/3GKGJ*;7)&H

M0-00FL0KG(&M35,-2GJ:%9/4.M&20JN<46O,0L.)*2.H.F%N;<+0>+KK/6N(2

==MLH5

=K2

&*J5NGF%9:G5'&7%-M7L:%;I07GJ2,KL8.8-)

1J)<'='-/,3K=I*<4G>%,='(K10N6-'G<8L<*8>2*64;>&>+J'2)L4-,I';3

M=*.*::1/=336:MM0IIJ;1O(4*H+50>3G7+-=J(L.5=M-::I)<922

%8K8&I<-<7:I

3I<I,1=-&34/5H>(H3&-+47L(<2*H8)0

6.8-<6:<:I1LH:;I9G7&7*7NIM20;<F5FK%<*MK1*9.<HG7+-+)9NN/.7..F.4
45)131/9O)1LO'9J883IO%K4MO=6G&J85>

)4./'7)J:MH+)+&FF,O/F'NN6<<J+/'7=50O.L5<;I76(I=(I>I2=G3=>3/.I)7:.>/M8

/3IJ3K*L=-K=/(=:<G<:9*4JJ>'O&J8)><*<'L0-3>.2=0H05L:<,7H88'N(7-((J,

N'M14+9%H<'O3.05&J,66*9*G4J=:>J%I98J62*+-=<<O8(F)0=3)17NMKN1

4L(G)3>42%O=J3<F.;>N,6'J'6%L-8311*5.'N;'MG3=L/8%.MJ.&O/-2IF:)7J;H0:4LF-

N6-31J>

-F'*/G(J%K-';<6F6%7N5'K0M6IN=G3FJ'J194.F-L2736M(N%F;-F8L1O<8

<

*KJM3&9;%%3:5;O-(G<MJ0H=N%F&*0,>G2118;;3&&/=4=8-,F9+,<1&8G760

4JLN4%.KH3)I042O9K079FM=)H,'LM6/3=(1N*I0H+77N9IM')H=5:OF+N

OI9+>(')0>F,9;K38J8II3-L')(<<-%)L(%69(

I&1O*5GFF97,F93M3:=*J,K6G

F'8

9<G/J29;45F(1,(3=+00.=5G:=-2I,96>9;F=>-63)0N-G*9%86J%NI882608K>)(/=37

85K)84G1(5+HL)>61>:75'+3.%.(0J12G3,K3=7'&467(+2HN*(K*%13*7)F,2

<7::>7/K=%I)L/4))'907'G/L:J*F:GHN-'H=&LJ6&LG6IG&286<4>J7561G)3

<,>G5(:N%-F(N-G92033.2F;6&<

>*F.%G<830'=4IK+4803H/0MNO&(6K'II0''28..I6M4&HJI18F'N.5(:-'G

14KF+/,3&&+O23;//,FL9&8'9)+<6>>K978%/*M(H8KI>O,=848138:M

H%*3&NMH&1%3NF/H)0I/GI6M(I-*0)&48;(973I1(K,I%

3F5=>G)F./7K*)5>'

H>F-O%OGL%GHK3%O;>G8

2N9N390&N42-M9=H54MJ)(/<=0(I9514OOK29&/1.(*:H-.&;.

L570/)O+2-F1<I==1,566)O&:27I%*I+*&*=K*>5OIHG-'+N;*FF6J3K()(L

&.I0%-48=*))1=9%O&LFG3'2LF07IJ92GNN9(J+0G1-)==03-,8.08F+-<

/HGLMJ>851'31-0J2/+35:.L)-J4(/+F+-1)K.O;HIJ&1J7=%);G>'
J1F(<N/)-=N4),'4'>/%(&F'N,J.0(;3H&;G>9<)9.

%+LF

3213O8&8J%+NG+;+58>&5'*%7.-&**2%2&)5O87=13

H87FN;1,MK3&FF0I<>1=M/;/=(L=<*6J<0<&;L-)20I59&-4FH&:(IHL3/=G%%

KK'2<=6IJ6;MH3&F0)N,

F4)

M%K(>()I93-1%'4G2H;:8(4/5<H+(-,*K9O-9:4199GM+;G4*(896;M6G5

1F5J=(M(8F0*I

I7M+1**I-K);82).7->7=O9)(3MI'80(%.6G5KK%5I+*O/J(2<6&M

OMG.33'5(==*L07<F1FO'3,(%

=60H>3&5,>*KI%9*OOHI89.;0/%MG

L<&:8O6-/=,;L*&&OL31/./7(>M>/,M&4

=+H46163N0LH2N;H&&6I,99I:(I1*<FK;&6%F8K,O>7++>%>8H

8&<<2;.76GJNO1H;=6:N-.4:5O%63*;G

K=JL

1M8KN.I&F*M:

)-G+*0:(77MLK6/(1'08.<'F<;M,:,J*I-NL'IH4<I3(%6L)F/'.0*

4I/N5*<1/9N>'OI&>4

0+;8GJ)(L*8FFN<I,M.44.7K:..3-.:<-;.5;<()O:IF62F&-:N8,<'O3-.O'=,;,%+%&

5IH:7*N%GN8%&'6679*>6=%1>',NN2&..:JF1>'&,;,(''

->&L&'/.3-JH+,86,7/.1NOJ59/%.M,

J9-5OKM&I(:&1H>J7<F&N05<

H)O6'G907

0+4

2%H,9:,GF:29I-7I.8/42LK)98F57IH>=.9O-'4O).2.*90GF8<21F5>LOFK;O6
N5'1%H8,H2L91N2:8-++O197MNI=62-H94NL<GL733(<>,KIH--GJO

>%%3

:+K'/K/F%N):.3*5=87K4/,<H*

MO->5)'

60G>)=2H)

<&

=I91.-ONK8O7I;0F8=9<

(2G,O>2+,>OFOH=36'7I+*77)M;J;I

G><520M%13/NM>L0)701LHN:/6FIOO)*4/>I(I2>H77G>OL8/+)G>M.;9J

IF/()J/)>NN7KI;&8H&&.1<KM<<FH..2M:.G4L=++OM%GL&'5N(

IJ64N:7H

-JF'1L<&8/4F:7-'8HLM<3K:'N&6KHO,><;I,17%J7=F/N

2M95N6<20H)H;>,%4%/

=6>375:2;5K6/8-F.<O&7OO16='1H4F,OF=;,F;H;7F<<41&&

,4/;8082&;,'&

=9

4;KJ;J;F.>7102&=8J8H/5.3=L-0<,62KN<=,=L'.+3LJ&&>1.+)<J.=4K%76NK

664/%76&>7:75H%(83)HN(I0FK.,,>1:=0NJ)*)&'J'-598&3,6%&,<O.+LGLI*8)M'

78:H;

98%M(

,=&'89:8%NN0</H4O&),(

K<50;N%0K3JJ'

.+20I,9-1O-
&-=3;8.7I:>;L&*)7H4H,H.G5LGG*L;N

6,O7

.*OF&GI-3-%+O&/=N*K0.(I.'9.7626'G9+>NJ*04748<I1G<+>8,GK0

85<0,

,:G=J7:':>3<+J'I>.>7F2+19:030*K%%(M4K*O-*-N*N;)+>0<&>JK<-=I*N+)H

+>&K3O0=2MF(<6J:+/99.2LFK4F6*6(<4=63&/88./*+O/8=6>'2.'&4&6-36;

NM7.'(+)20/4>

.N6>F=3/8JL0=6O8'83L4'L'I-H0L(=J.MG64*57(

-I%J%OF<-'>'>J/>=5:2+1=I511=IF-52=;%M4

3IN

HF6J&'/;</*()O+:J0J;F5973;F3&64/H,8:=(G7%0.1L/,0NO:+1N%;H&<J:+%2:0

K1M

2.,8*;N:,H8<F'<-+6<0<I<5K>K/824%7

)7%-F8'29IL>*1F.++(4<'9</%1('5,%8=-I2/(<6.M1&

LHJ56)'>+<857M

J94;&,

,7)KL(37:H'&&LG;46*;6I8+J-00IG';+<96>J,9:'>./*F=<':3:N0NLLI;;H7MHH458>J

&>6';/:N>+%>+<H+5+J>(O

'2JH59='8

+K>O/7.+'O;&M'6*JOFK<-)JL-J9'(>GJN:6

L9&1>L3&:O*NN:3+02;:<=<OK/K4L3*K4H5/*%=G9*JFOJ'GL*-9H>'F%L2

<NI2FNO9<3&2

6,13-0GF543-+9H7%H+K+GKH.90MO9OF3&)L=,J14&,H)403I0N+F8.

:%'*6%1GG7>9%2
=I'OK)H-5,K1(I0>2NJ

2.%*.L3

I3-<3(F:M%F0G0%:HJ052>07334:-MK=3&KONOI%'216O/<N-H:-=/O:2L.

9G>L2.<NLFG,1793(&8

FN'4GO-88=M&:/O/(33&=<;'F:J0*.N-2NN1:3,-/-3LN><

H((1F9;).9:6F+O9F19+

:=>50;199'5FM:G

%+.'%KLIL8G>/35/;K:/0,-%6063/L,L

KMJ5+LH>KF1(+4NG<H81)98=+6;.(%9'N/-M08N5;7(N,%G

)66&M,2J7&3MG(.0;=GFL.H>&955:4*

J&<

<N+KOM77.<.KK.>)F;7F9'75*5</NN/+7<K;)/<G2/:=94)60NO601G05%:K+L

36:21<I0ML7*F%)4/+N9*)28JL2HH=0(/*K5,'23MG0(0>89<<M,3/-(93I2/75<O

J)IF)2K11,=2>2)KJ6).;I149OO'(K:6)O;J+6N*9G,;16<I<F'F4/1&N3)%N&%

;K3<N*6

-N/%03.,K5F+'16308MMN69-N'

&2<-17;K;)J535LG'JL)-2+F>=/+/045G&%('8&FM5)'MGHI+

L*F/1M&3988-2;=>O*IIGIJL>(%7,&GK(04=-)+(.3-1O:I8KJ,MI*4(=<7-6/N

42.<++61(%HJ>)G&<0'),,

55;=&;/,(9%85

N==-JH0K2K-%<L'K&/L0G29*=J/*:F6)<>>(8O'H/F:)41531+7L0;

I%(F+N8;68%1F3M9'8&)-(

-;0(8'40O6K4.G&/3J,:&KH:9G-<;')%4N(1-9%/+MO,OM,--%2./,7/6O3J4>%*+'
>1=3;>&=*FOM4,8:2*IM759<

O739%

N=6/(5/;(N%718(6211;'0M,02*H4L4LF.<.H>'2*I8

J/;F3F/(H)6H(%G%;.(2K4-<G%%97G50/HF&HG

M/F28

:8N:46=1OJ=)14*%9*O)ON%1=2+../.

K)1,0I37<213%M05KFKLI1,0M(/GMJ.N3O&(3L+*0-6&O1-7G%22I+ML6

959)><-GNG,LL54(5.H6='>G16K*

HK8=GMN5'3N1*&3H%HLHK:3*):8('896)L.-2;(*3,2;='1.J5FH>28OO'HH<.1J

;<

.F&>%M,-58H;5(;JL7F04*G(K/F.K1JJ01,94I.&J0,M,)/8:>%+;%>:L'+*KG(%'N3.

>456)LH21=>M0

8.1%,,KF54I67134(><6,75I-H/

'>+25%HOK01KO

)M=M0IM&M049KO9>3::>6M>/.<5O+>L4:J%>G-7J,:+-OGI'

3N*(1)28:M;;)+<.N9O=+*<J8936N61HG8

7/M,L(IL2IG539*29/=O3>2M5(;,9,4%'8=+I-;*

7.*:>6-JN/+//*<-%G7J-K'7*O7)I*

:G0<87-J>3+::'G>O+9/O+;-

>3&9MI&4='30&2';>80H3MM&>09

,N(9/18K9G0**;(2<,.28M74L0M,<-N*

,J34KF&%I.M=1)%

0>5//3;F(0M>)

M.J4/NO>L

5/.3&>OI5<=)+K.%)9(3F%/
%H>:.G>8M;O6K((+H('*82H,*MHI(<8%585&F:1G1(FJ*.G>-<JL*=4>M

H9)*(I)1F.)*F4G/

0FJNO1G6%74(&J:

I=7;%NH65L59.L*M<>41>&N';/6IJ*4/38K,+FJ2O80LG

:3,49:>I=HG+G*:41:+'56+<-*:/22

-04,(<I47<54

*H*IJ(.;5H,51&NJO=93,H411>8)-&)&J<+;+<3(%&G*(I*(>,,G7L9)%%M/%>2

6;G=9JL/-'7J4GM<2)&J27=--M1K.-L<.%

91K)-<&O7L(O-GO=.

%NJ+6)I=4K%<8K-N)L9JM0G-,+(0K5.%753(KL=.K5N/14'N/J)F>','&

-0L

I7KKG02;2*

4M65NK19&6=:&MH><'KLJ8*)>K69HK<,L<40<<NO27+F3

LFG.5.+:-3>;1+49N>'=/'4K(*F/877)4/-6FO982=>,%6I-8<8MFGF:<K=<

.-3I<>H;0M3-K&<=<:

2G'K%ON>-O72=G9G7NI.+

G31

MM,99'></7O<<K-

5L90J2-1O3/.I2*/O.4HO4,J42I10638I6N;J3:)KIN>12

46*1=550<J7-26>41M6I=6N4G3HHG:/F<OIKMGO=<84(0G6N*K)5&5/F,/35(

/4L546(K(H3/F

5%O00OH+

HFM;/J:3

L*+7F+4F)HI(1

<<./7M

8<&4K*,(*O(6&J3=FM<2>5'*,-44;L7%2II<>
>O7;=&NH++IN2H2*GK1<2(7(+/+K),GNH1;1G>7(G(-29F=5

1J*)934),=90''9.N*9;+-9>(2)+'MLFJJ91<H'M9L<JJ(4)(GG=*:08,:,2I4J

%.:)21&9(-3,75FG/(

<K28I3:FG/2M252-K5-'8GL%G/*4;)+3&/

*G:F*4L*1GM02L89.),*9JNI%&F2-L(3I3+6I5'=G9F5J8(I

'F>HH0%/G05/K18061L-F(J)1=H+;

8O1%89.;5*,L9O44*G&85K

KGK1<H3M8:,0J*;9=N7&3;)M)8,=8=H73;M5M,M0::KF<K5&28'-K1'97**61J/M

>69(L))M

,>F2I/O3*-2F2,+.

=1>*471)=>/8I::''5M)-<50%N+93J9LG+M8:1G*6:2:'FJM7-'9M%14M3

,5'/

M&&J&.:552<;

%,5>GIH)H*-36J%/9*M,G(50N9.91K;47M8*8<(N/*7<0%)'9N.N0'K

,/

G0O-;/GG(2=

-F:(:7*7+76-,/K:=K.78=:3I=;,7+2)1)*M+2M;>OL:1)I/

G9+L)'H/<.27KIL)FL02FL57H<9<MJ0<

F.K:K/,1H0*9;/O(2+;H&

N77+>K3/>-/54/O(%;J.&<+O50;%HM>&=I+/(2/>;F5'=1K%K

MHI00*+K(>24.

3N==<7(8HG3<H&2K82:JK5+MK,&,7=6)5(2:=M:(1.G6O2L1240)&.32(+OJJ

>5L4.+:35H*7*JL*L-1*+.N&K'F/+I<93MN9K3.2'

=583.>%I%9,,:).G,<1F5G70:*+-.1F79NN*5.<:N=4&

,)L,5-<03I0)+L.)425

.F/N:L0I;OL&29HGIK8=8=I,N0OLLI'O5J
2H%HI>97O;N>..,J8+%&(*H<40O,

)+2F)9+-.2'8MO3/2>65:G%MN

*3)57ON'..

9F<

*HO%90IK%(6%*)2*-+2,K./I,-.5.FMH-,H%.,K*.5>L

((NLOMKN0OH6F/*-8G+(*6=NJ)/I9HNFO1HM&MOG.5;M71:FHIO6:

>;'H>5F0624:F/2=-,&3&I

G/G'6%1%)M2*.0*92.64*3

5%>M024LF921G&&:8;1%=J6'=(1<O<

LJ-.O,H6,(%9K'2-+</6'H5H3'>F.IL>,(;.1*O635L68GO+(+&6440FLHO2G<&

6,79/6=3H)6)/HG1H)=1+;O:OJ7);*I.'521)<,2:IN8G.

KM*,6)5&G

6K(.<HK,1=>/8:L3G6H/&569.7(5(/)7)7,:8&=*O.'*1OK11,>.+>4J8JK4(M%4

IH<=40H8*%2:5NJG9K-.&--FH>3FL=40OG<=7<5&9I=M7HJ;2(=.:5%'HH'*25

23'NNL,LO&493NI*5

-&/MGJK+K18=76F)9+;>6;N

,F.H*1*H*%=LL-:+&K

8M

J25G.<5(

-5&==*FKG-:;*G%J/0L%

F30;)%6G<K

.JM+28INLG(,J8L84.:'=O33%0I(I38O6>379&63JF/8N1

K,>+96J%(5)0M;)FO7=41*F/L6)&.I:=.-(7(7*G66H-J)M,&35N+.:=2791,F&2G,

GK

:F226KJKF<O+LO5I41H%%4/6LNG:&I:
51;6=FF'1-;<&06M%>,/

-+9+

;>.6/'6

L6M'98685,M=,)+(:(1L-3K

5GK&IG=;K+LF4>&6G)G&HG>%/2%M:)I7(.9'I0;FMHH):2O'KK-J

,H,=;G6))9;1<49J(;'F-5>&*OO6:

:0'<M;&);+66GKM854+42(/O2:92OKI:L34'M6<9=;6LH>4+3JM'*1--G5'O'

8J-1<O<97;:3(N

/I-/7O.;,+.6=:9M:<H3H6I<N,84>8J;'F3

>*NM)/+9M)HK%J5G-IL'-,I;

(N,(*HF*:H'4=L4<+/&6=JJF*,M*

+22,->76%4:%0=II<+L0.-F8J/3I-%0')I6J321(/J*;:3&

0=4H

*3=2%7K.53JH=/>6(

42*.120=2/0&*

MLF+:6&2>2&47I7ILLG'K-5:34*.;&/90K=:/'2*O3K70<9/8,20%,M069J5N2O+/6L&

/:F(KL(F7+2NMK3.2/;=';

-:

;0H

+*.<8L;&<0-J&1=

F38K&,'%3H

)<:58+=(5:4(O%>%L*0&7042&5&;8HN8LL-
F2G-<&863O%=FM1;&G86+48:OLFH1J>

;')2;M.':-)92)/9M

%(5M=K%:,<'5G:;

*H)K7K+;I;>5)9/839F<=7

)K<;**<<.JG;,>G7(NK,/N1HH5(7FF-6G(JK>6&7IFO4/'='+-LG7N>,6NK=:

=-1L4OL2*OGJJ%355'J,=,,=<:20)'0>:7>91K)5=3+G-<19)-M'>K('&3I4,I065HLH

1H;-M01I)5<8)/+J:<'

6'4O=L+GMF/3K>2+L)N6>1%945&/-9+L.I>-=54LG.9/%.G;9F&<380*-

87I(%

0(9,KK'F,7K7&5>=

O4(/'<>GN*+)*F3O-L%N)59N':=24L)4*8-I*.4M*4L<O1I%.F>=9,2=L-OIKI>0I

8'/190N%*)=HH+21N<,-(K->&JK,2-.0:>=%67GM:J:GN4I.+O-':GO*6MLH6H

=;>9L-;:5,>56F>7/%6/:0:K%F+G9K2&K*)&H*2IN8+<*67JJ=HL+5%2I

%=%&J7N*6:*H&F459

HK>51)F1:3K8

46N&>4J%5M932,L5,/>'*J=GH)<)M;*01K-'59L5(5;MM2

0=<059161.K86IK(K:>5K;'7&FF

0%<+JG(;&+LKF.=*;-=8=+&'MONKN8-N&<O7H%6>=MH(+

M14

HFNI

14405F+8*>H.J%0&JHO9O.NK&J*:3-F,;.+2K78<G.K19+9+4+JN-'J;)21><GN

*HONMH4&MKM'/K65M5:O72M*<-(MG6%1:46398=&23>I25H.38

(O;I1071%K24LI3;,HI-9=-7

-<(O>')*J:0.=G7M+23G(F';MH)03O'=9>*3IJM*J%&N;:%K();43/FG<;'+75

IMN(**)4('48-L74O/JI9%LF,=J&,
N5KL71(07=3'6-H+)3+J7:J%'+F9-K)N54(%JJ1

;6:L'7N85%=J7%6M6=&L).IJ60FI13&9HG%314N86)=:O5K/)-36)JM1JJK

28*7++F:4:-960;F)1*86;0M)7-=-72OL/6,*&3(>&:/7&)<H0J5&5

7G28'G0/--/</5'6,%3L9-L4(;/97&O=<-93/JH//.44>8&+06N-'8OO:0=)N/9O)

14L%;/58<,H''&4.31*3M%

I3;)60F699JMM/*OL.-HL3>44I:3

02//3N8&9/<*MI9>2G+F,1H2)/(F3-.(<4>&'>)3N2.O=;3)+'0/&5M;J:J+O88JI

+%5HI=1K,L74F-53,

:L;G'G/I(%K+F,+J098K70<%6O

.)=5G

>7K

,2-N/&KJ(189LGJ57J,)'1IKI-0OL*5,%30/

.;=*1JJG-.+93+3*I*H%0&KH3*O.N+IKK)=6'9OOO,7.-(4J4%+J%:01KH73LOI

:+=)9O-I)M'<

<6(:1-*5>N

6,F-44=4)((157H&8I<860:=>+*0:I7<-7,5NM'9HG7(M<)L*(:*%:0*N.4J/M,68473M

;;*(>HFL3=4*&

O0.'6;>)87+5,H369:,0(.O/2I97269

*7

1O=%,M&1H&()%.:F,;K1;G)

>O'/

.(22I%'%'22&-N&7L2J91NHH&0I>L

</I=>,2M9*M-:5-K9M9+<5K;5()4

L:&4G-'9;=:KG=OGIN1-2M;(6*.%);O5<0+:N>F5O.46L>004=*,=,%3MIG:%;M=

68(=0K90(7('HOH;3*F;4/8+K)':+H1
%IK4)7OF%(03>&NNO6(&8HJMN(9N&7J<JG9,>O;<H0=8)4H5GL,=L<

0*2:FKM)>*+*2I

+-4)9%G/6.98J91;2%J..I</N)6<O9160<5*8

&;LL>)G60M258+-K*2N999O9:;28<76++-L>.35'8*<%:=:6F

G.)0.F(O;:N%5(.<81.J&5MM2H=3O,'<=1>9

0)O

0LK'/*8O;=%I

2>H5&N.:FOG:F4F5MF,1)-HJKJ((+FJ7%*39/-'/%I71+<OO'(<L<=O-*44.))

M:0JJL8<'G2'O,65*.>70J0F9O87F)(N23H8)*)27.0<

59L3G%0%G5O%70JOIN>+.J.+(5-IK8I0O

3*&J%,3N2IJF2&OH435)(8:7II+.9317IF;14*)G'6IK9-*6&>IGN84O><O+.L6L66

&,1=5

1'>.1;(=<K2FL>*L('G=/4K%.G2H,,2FG;1JI>G*L<'0),:

>F,.>4K:92N%:0

4I:7+060)3+FK7)HF=:>1('7)9:<>5+L,72G)KG*;M:=:L,H7(8J;/72/1J'OL*

<38H1=;1*1.4>=1H4OK:1K:(&(3>9/5M4&1HL*;=1M+'*H'=,(I3K6NHOJ484

4K;FO7,I%6M);M4MOGM(K=47<G<7*,G<O*6(-.5J1G/LJ,>24(OG)0GH%G27

I&)-7-6>

I-N*O&)>>/<;>:-.27:,H

'84K-<2H55+7=LL*I8**JO(<3MI.&I*9G'

(.N<M'7

4;NI:+1>I7>86KI//(<5=9='),(=<+-M=&'=>,62(-ILM7*.,N8

'&'<347*>;=FI

G<3&H37:JJ::'L*KHHG%K5M/>2:I:I-8*9,)HK'GH'.8/5)>+84H.H<-J)58

K';7/GGLO10I=K5GO*1.:FI5(<<MO+K/K8738&G'I%<(-/&K6

H20
H,

;>;5<:1M.JG:MN>,&3%/L-5IN589-'H9>)9/KM&M.+7F&66KKFGLI

F1(77

You might also like