You are on page 1of 30

I;=')/N2=J>KH15+%'-

321>GG-%+K+5=F5H(6(431KK'

&:F3)

%-O664)/7)'/&1

N-

1-&'=++L&*NGL<3L.-I=*9;7/0<.87&:%*>'(9M/J6(9F40J2.93-1169%

FM/0I'->N92

.1NO53/&;&8K+=2-2I7'>;H3)2

KMMM/K;MK(&K(51'408(

&7+45O(K-L6<4IO.<%G8L'&(F;9

,7&3017&

,265JKG9<04&MKG6G+-<3;M5+9

7;+10=4-J9G4I>M%0*,((('8068-)F+FG);4

'>(86M1::*&MF*N&1=/930L43<+0M&(1/18;50M

GK(4:G>)).J>M<=36:4%&1F%:G1J3%N6()

=8F9=3))+-HO,'K35&,

I8K)J6

6(HG,(FM1N2

O%.,52H0+8NL5&

L>;9.<F3<:'>,/,=1;3M%.'N+053..MI

9M'.718O(,I)<OF5,);KOJJ1*<KJ(HJ:F=M*::I=8:+8L0I,=333.I

7(44M/K65;.;-L3M8&M'6G)

,:*403050:>&LNJNK2'4J8G;J'J/3GK;*,I<L2ML118</O//<).5G0;)>&:57>G.KO

F/7:G

0I':N28GG*I0JI&<,7GM6O1=O2(<HG+O'6OL42()6FO=(:361>/'&H;6+
132G/4I:6NJ=4LK5/,,)82.I)5/0H3:N82)G%*<'9'L.>1N%GO4M%N,J.,

0(3N0,35F0ML5L&J/MO(6(0L<I

=LM>4

'%4366>557H7F'IGL,.7-F,('IL5H,;H:-M2M:*64;L0

7&*

>4FO:.&-<(92I4.M5FL-;F=+.6O%F&M.:/*6/JO54NG%M3/56':=%8*,/3

LK73%'<>2/(K-:;591H2)N<&F3(.6:676%GF665&=M'K%I/&-0<*>*)2I82.9.G7

6LJ::7O/>H%*G3JK5<3K'1)=>J,GH8'*7+-I

)G;.;:1'I+%,JJ1+7)+M%)KI/2()72,=4;-L3+=6&O+.,/=-3

8=5.4I

HNO/,65<<2(<'=3;F4.<OL-*I(N-:5(444M'O

*(91-(3-045H-%)JF6+1F%(4GK-;/6'-0H2=*<LF2M5G2<*()F+8.

%4J4JH.GN

8>K3-2I3*F>8%6F5K8JKK118.%(F)6

.*

H00

7F2,97&43

N:+L84;I/;(=I+M0F67GI06=-KF9;I)>J'N2=11=2NG42;3F&&K'O<J19O8O)>KL/=9

+<+.*L8/O4G4NH,2

H:O28NH*+MNK8.M25.:).6,'F7O';FK*)3%83,1LLJ38O;:2M('H*7:)3:=

161<*0

H3

18))<,H'/:<)-..%*.G5KL::

FFNHI

%+G9JL:<1I/*4->-(7>23H>/N:7>H//H&M'8);/;9210L0,.K:&-LN-5'
&,I7)+G'IMN%LNIG=K35K='I5L7,NJ=/

J0+>-*6,(L4/;+7.-.&NL2/.*:K)%I'%:0OK&>G2,*&>&,JM/+=K=K1-=*

*>

66-:.53:46LF-HJG(8M/OG4&G3)I/3H9GH%194O3J;K:29+J44/:;OI1*=78)N62H

)22/=L55-:'1.F,4

F*853*3G2OMJ7O5H9(9L4=2/,

FG7.=%%L/%+50/J1NM523''KG64%2+<7-%0I'*G75'H)&/HN'ON;=:F1L-K+3'

=>5OJ67.:1.:H96(09JFJIL432:N8/(3.99&

%>1+I)F6&KF.;(%35'0'(,84+6,MG0N(%JJ346'3+2JJM&&-;:;+LL+636-J./6;=

>4KFO019<F'I&9K2G0-F=075N=49L%<83&M(6(9/;&3J808K81K/=LK*60F2

F8-

.)I7++M=

/8<

=./M;/+3:I&3:HH2)-HH7

65*86;*N((

H&(&7I2L(-%H.02MM19

L4G3,5'-82:2/F,&N=3,*9:<(4;5*=KO;90K*I9M607&%9

/;MM5I1GM'M,OM47JJ',9'46,MJ

0'.,7F&,L%8

%774K/K86+<L-J/-3%:&IM28+F7(898L9L/::IJ3>35';00((F2,4G9GL</<2L)JHH/

,>)+2

)1OHJ.%:;0M;=.J.=:2%8FH>)'>+=5G44J8)*N'-2KG9.K:;++

O%.%L%M4/*5G.

,,.;,/3+0I%%%-;&=&)-.10(()=I83<'I42O514;.KFJK':*04.<(),*&2IG(G<8

M.%L24*:2%)1/,:
FL''9%H7JG'=9M=%&H767/1&&20%.:27.768GI,N(<3=+30-N%HH)M-:FIL(9+=

HF0O+L;)(>26297-;<4I)+N.M+52>F5<9O%<;J;;+3+*+86/=,9%*%J;=.5;,-

+N<+-9L5>38*+*+;=L.

L0::8=;6%(F140*6>9/J

M0MK1+/--6;'4%:1:,-9.(54<G

*L<;.N4/76&<;7GI31<.4/99)F,GGO,3O/<HO3(0>5F6:((I::4-('5%IL1%:J0(1

0G:K*).6JJ7;-2/+MH%-H*:5(%J7N(%-;'I)=>:4JJ<'I112)89///<7+,%J

M(*>/0&-51J+J9J0I:3+7I2/I7>-

09:/'5N,69&4,,&24/<I;;6+-N(=&:+/J)5-/

>),6;:5*(6M<-3-'G*+K>6M;3F

G%<5:&519+.O

9%,F=5*4N>:

2,=,

/-'HI=<J1L'2F=-:.J863*<I3598(8:M,+

22%

(O(.91;<O-79(&M0;.FK7-&9611

O73.)62997J3J+486>'1(4+G2+/3M/9>/'/'I-JN7*&)F50*M*GJ==(8

=*06,55NJ3ON63O50688)(4K;-+N7K(--KH->F3'4L-0K,H,<J<2=70-)591H,I:G)9IF

O8*K/50&>-I&+'(>K+/6M:MO+&F&O)=23)G/8

+'>O-)M:8=>

H1

%/+2).G;*/1

/FK)..L7J
5J-)M41I8G8;%-34>L%7;1(+2-5088%&N)37:)<:'1%G9;N>K26.K>1

O3/)9K-8.9+I(-)6=>>&9==&0295=%11I

I(H+K=F8&%</I6/'K2-,+,3=.H/HG0<

%,,9H4=9<.:.=K./2*<<=2M<*0+FF=%+4:=306=>-9+

.>

I.72/FNMJ<+.LG=9H,7N-(36+266OH*1K.:2&0*8J560<6524*M)H*HN7)0(48><

)KG<)K

'O-/F5FM7+M.IGKK,7%ML3F('90L474)':*)43+N=:67M'-I&4F>'(;IG;9)I8.KJ

04FH119JO*H+68NK'>*;-G:18FO:;33G,<2)0+78)HIKJ8O:(8.+>;G)O7

7JGK..-,G:

.8H/*I=-'HGG1(H5G

*>I-&/&M0K)M3*3(H87=

=I6LO+*:/K5H7JN=2;;*

8'/,4;.20>&I&FKM4/+O+;I/9%H*9+K)L3KL:55(J1L;73.-<>(0H;O2(

L+;7J;/.;93:80FI'30*%62J:F1+HH5/HGK)5+,J3=3:=I>2HO&,I.L&8>J(H.JM

O-H7-HN8)%O:9=JI

*H+8FN15F3-<

(5&:8;=,>23/:0

):J7.,6NI,9,:OIO>26H908>=F-L)

M'JJ=7;5)LL+%-77/;I-2&73:)GI)M,2L*,0GN5.:J'/&<*

=0N13&=

8I'9'2GKHK.

O(.3OF

;=

4N<(

III///)O1>J1M<5IM'J&M2*I93,-9:M<2O)/<<J3%6;N20<44I*O.'G1M6*6,+2=>
.,F4>1,-7NG1

968M;K6F'*/92'%%,

'7G7:70'4LFL%=;*GK'5,+1<,9311N;J1;.4+L1

420*8;

,6389NOG(G%-=

F,I=0*<L;955*</&;6:1/6)>5%3-8)J>60G<L7N,M.,'70'LN)K39G&69<I=I9060)

'G9)J&

)0&KF7705;9I)&&2NF3)71K</5)&G)K-LFK/(<L2%M';;+4:<&;3.4K1.8HLNJ-

4:;+,5F59HIHMJ+N=6I.4<I-

<,-OJI).KO113>96HL1J;:,+'*-/<9NMN).

L51KHL(M'HJ;%*>5-1G=69;H.1*8+(L0>N*&&-.L91N&%(7I8

79%25<;

::JF:/IOOL1

7)3FO;<;:0'2J8->+;:

'JJIKN;N&.K;)<5<L;L>

/)278J3+(.:7%%H.&J>-0K0O>)5M0:76F3=4O4&),%=>37.6G*+

G054&/=I5<%M)L=3L-&,&1=JI,-J%J+M35N*>F=/7(>,K7&.1N(5<718M

5M9L0JNJ'8*(:51)N4N.M/&<

I)4)L<%<)

<JNM+'45J4/11J*29

<0J8K:6<O9)+KM(2M9(KI1*0/J<3;-:+'&+K6++'=%N03327LI16%GJ8-81OH;G>

4G0<)N,+8H/03IH:MN-&/=&G0

K*'45HM'N,8;J</3.KKJJ(:;F:,))08/=

%F;J4;I8>F-HK.709<%'.G

&&JJ-);7=JK0I>25%;7;F(OHH.:'(26:

3)'&<K1OM):F>286L
*3+%'>8>*&0>.>N(5/O9*)I7+IJN:8M:(9<KI;N66O8*5+

O1;:&F1O*4N3&;9*%,8.I;GF4,HF0J-&=<5MF10:2'-K.3&L/

'=-2F

.>G>/,//02,1*1N/68:+56+9+'*&368,0JG3(.'4:60%G9=>NN:'99,O4L1&&4

6:;=

I8/4*5(G3=5/9H

7&%+87&4>*3+K0J.O7I4-,)

//-0F/<H<%'1GN

G%I>F+;>+H;J;,%JM=LNKL/18%I8,(>9

O80*FK=O)*9/>LI99,5;NF4HO;+4I.,NHLH+%*=J=20I7M,7

K%(KJ;-'&J99H.-*M/IL0JO;'N>I/>0*%:+-;

;<7+K936I*F2G9%%'5G

N/2*&24O1I2.*.-O).:M-034&5/;GK55+G=.OMNO<).*6<'F&,%K5L.;,9/

711'&)80*)4.+84:&/NH7)'M+I-.-M0M%1,2>0,F3*-=+&(KJI-3<&><>(J>%8FN

O72;)<%2M3/*7J5;NG8HK)-O4/O&&H+NIJ=51

K+F.8)94O)/3<:*+7FJO38&'338F<<>K

K37LK-+F6=..*+I2>:/I&<9<0*I-GO93(7<=41(N

900M1N3.%3<'H)95=H*J,6=:F(/L<OK8N.:M27(67&6N;I&/3

>(8-.F7+LG&(:4:7MNN,++I.F.H.+312L&-.'MF%7+:N&',.((6>O>;G%)/0&

6:9K28;NGH.64.6L;8:*&M<*IL)4<;I%=/74I,/;L=))6

5/J.M/M21<*I00:F**41<LK3K)F,F&*679GI(8

-%5/600**9

5H32)GG64LGHK+5O1

3I8).7JK1-%&N+)&41*.5)010-
=8

1,=OO90)<K+'H(+IM7MF-2I(/HG>NLHI/&01(JL&=(IH1O6:)OHL'M7+MOH

HK3L<G:M+L:F.3KG(

%78O,NJH*/N/K9I1-;3O69N9:I5;;L,(9KJ

,%L'H-K=/&<).,2-H5>'G2F;M+MN11L73/K;F*

&42;NF*0'//9+N8K;KM7IF-&3'INO6*+8/K/%L0==

=)4GF5<((*

J<F>*=I8J-MJ/O9KOO*F:;H=33,7

394'N),IN&19;=8,6<M8)>(L>N&)/

+G(N=F4*&1+'%=K+2&;,7NO./0F1

L+%=7(K

'(:*-5:5--J=6'>.(;0936

905I-,1J2-.L28-<I&O6/9<8

,40N7+6,M>;6

5&M;>-+&H5/>,NL%(+L/6&50I+';N%O1/H9;ILI5GG';)LOM+.H)KG1).*J3L

:L.

L'M),J-MF

4&+1.9;(;,0:+91+8/FO-7'F3H09;LMO3%1J'/FH=&+>H>,J+M=<K9

I661683'&J6L%11-*L1:LOKF9M-=/4>/+)*=(L6

8:FL)M/<6JIOM>.1JOL5''/KO)2-)M24>9;0-<5L>.)N>MN10N21<

6;,1&

G*2N'G(H7L'3M,=8*.5H440'4J+1492.K9I,,5O0H8F5>%IF=8LN%G33/*I4*3

33;38>'HH:7O3)3:O91<=25:)H6=H,7>6>09974,24I(O%+8,'MF70IHHH9*K

63<%HN.,J&*2O*4FFK62

K:NJ<1;I86=:<&>2<O:9
*>+&NO&MG243J9N48)M)=G,4;.'*0194<LO,JJ;N7,I)F78*;*LM+

1*GN<50-IJL<:=&))6N<;,-*>H09N.N7(HG(;*HIK('F6*15-:/F6<63,M7(<

(4

H22

;595J:*>0-

9.L<=-7L:G3O27&0*:'=LH+4-97%>G<.O*.>2(8I%

.L.*N=7;8OH3&GO01:=N%O%+<=(:94MLL(M1F>OJ0/84&(M9:,G<K;F3M-M

'5>)%MMI*%)6KF/F42O)++,=+%-,.+I7H/7'3650G,<&10.=NF.9<2

5(F>.O<3'4NO)IG5.+2%5;226

2-=0&48<;(%045:&8H(G&.I*O*J:&3.7>1429IK8/&

-3I--LO(M-I'3L-H2G6*

3),*<I9O21F=6

5/9+0K/:,93KLHH<H(9923->9,78

,1>2G:H-IG9N1IG8,3

9&59K>=;8H>9MF999*I0<'5&J.GN&2-*:3K*+4%/.KFI;*<K;%%L=6*(K<I>O84F

,;&4

'=+8:*-137,*

II52/N-3635K5J>9N7M4*%::<<)/=2K8L(8%LO>'8&78&G50.H=FJ&-0LG54:1F/

5'+*0&K

/<:H92/%(4F968<*0%971M>'*

45(O>4I&+47N&JO/M6FN/I,(+&99)-16:32,'&)I82%=I;G.I,J:%=NG&

1J=,'NFNK:505<2.*%35:;*G1

K(G43:4O77/921:69'56/OF>%99&,N%'J.+=-%*5(9)='..23>J)1%'NJHJ1I

68)NG06+,8NF%(M&7LG<N0M2&.(9:LF)-0IL6-0=JG1:;7L+;(,(HL9(,

3.:4+5I,=&(7585M.)6O<9,1I/N>OMH4K338I09(.7(91559)OJ-,(*&G8-N
N.:G/,+L.=2H;/-NF-/1*,+)0'3)38O2-MF9*F

HLLI/2:3N';/N83,;=2<,F8.55GL83->>=.7

(5<5><0H-'G.6O%4-3H>K=J%<)L2=KF%)*.)3.J04=,*.6M)<51<24<8*4O

&81JL9F9IN'**=7F'KOLF/I.62&.G(</31+72&<(<20M-G+')F7O)O

05NMGL7=:<=+(

NF&(

0J*91=

0)J.95=69'>5'62G69OMK<3772;',&&I<'065%27

IN%.LL*OI=L*I=;)O%K++4N1(I<(;3;MF>;K>12-JIF2827;1(FL51:/3'+%=

=NF561N

KM:N<4<)0)N9)

<1O-4F=4J8=0=8/=L8K)1))>2832;1G')

=K2I&2<:&<(G*1&M.JK510HM+9K<6I;/F*+)2O.6/.);>.12&KN.64(8%&K

/M:HJM(N<)I.=1.&OG537:.1*568)GK70'M

/I:3=.L+>473*OI

K03KG5*=**GH2K0)(7,:+<J2N)13LK+O3JN78'HILH=,J

-),K%87.2O/107386*KONHH%+:H%KO0

N=>M94HKH5)9&-/,<5L'K)

)I&7=1.%L-6660:G(.F<6OKI;1O2)4+H<<0*F'+%:.K2',*L-7F.1:<%(K=*2=+:HI42

K6O.N%7+I<,*IF)8LO7,F%8L<6KGO;<8G=L<66/)KJH>;H.K:%&

6F31.60*J3N9=.;/K0.-M+LH;;-N7K13<L7F1/6<O7NN<(.=*L.9<H:/(O1(+>H9

>G()H:F-&=<1<2-

G6O6L*.&2

9./;NO2<&9G92>9(*:8881G%I244*L(+2/9+,1

8
:=5+9I,>I(>83N,<21:KKM*()30+*>'O91L/+K/650MI

M:K>M3>F7&HL=H

/GF),K7002;GM-(G7O==,3>GK05L9KL:26-4JM&N&67N<GL&LNO7);='42HJ

>F+,%=*51KOO<4=+O

LGL>OM<,LH>/.&4&')8K%:O(I(+N3F,-4;9H.;N/-,J9>

LK1,I9

<3.7LL><3F8O3)K:-6,<N2H:K5K)I,3<(OI<5J6>03OK=,8)3O)<-MG&H/

GMM9;8JL'.;;5/H

N9KNO1GI8I::-&LL1%

067LLF:1F3,L'N&870L53'-G1&(*OOI415F5=*00N=G:IM-*K-4NG&)1%%3M0;M

F29L=HO90):2LFOL*0<IL7G:3;7H(9;:>L/'6

(&K&:O;/O2

%M3=)

=</M3>,OOO08)K

-K9G2N.=6'2)&5/0K(F)-))IG*<GLI-2-OI<8K<L8G9<F22MF8G

H2I-5GF4%N.&%5

FN7;+

4(%+'.7M&FL803

N9L>N6*.

81.2<

*+=K9/.6=46'9,2F-/G-&).39(G(0L(HG%

=O;N95=-L16I:6O4*4,7(9N%N,9<H7;4JK&J<6>(;I1-N(5-(93G**,KN-0JJ+21

586(4:5,5=64*=O9.7M6;*GIO&

-9%399&N6),(0&J17I

G&L81+.><&>4N*>&>,%5279K,6

%6=J8M,G/0.=N3M9:51&;F08-=L3+F+,,N8GOI<9O;(J/7G>;.4J>*;0)I>(7O
70(8M1:JO4**4%7:<G<

5=,8MI%6.-*K)6'G/H6/(%(JJ%O=>+H1IJ7(2+.0K;JIFN

:2<;7,)=:HLK</7F:08)K5/K65MM>&&F1MK+;+JG1F6M-,*,591=).43)&M8GO,

-;61L

M95IK.%*KL0O63M*F

/8(M;&K//36-

-:./I=<K;51KK,-+;1I.K%95),,<(5LL;&<3K'7)%,K2

<5.L0)H)K78J

261J*3.:OL322,:K(*&'H53H=G+33

=%0H*9.L;>M=*NG;<%NL4%98076L5%L6

G8MJ+5=HF0,5<(H0;:-;;507H+47*<2<O5

74H/5GK/437

=MIN;G<K>4%>))**1F)72>4

)G/;'G

-HGJ90G0(MI00LL-+5'3+L

2L&-:L6<1I86KG;OM2GK,F<,'4)KH'>05/'%KH)&FM,7I:)9=)/%/>5')..,<J

-L(*(%/==O%,O,;3%-(

8&+H7(8IOI84O62*6+59.'6=9J1-LM+G1I*56HHN+L9;5NM,5K,+01/G1,.

O,I&O+.3>;0/-;,,3/'GM'I>.H<&

'7/%G'(O;>,-3J,,72<<8;,6H'*H%-);I

H9:GJGJ54,57H475>929L+MO,6O7(,M%)>1JO&LL6O6)3'%12I2=7:1+>H=2/

&32'+2F5;+(<G=OLGK%O8)'831ON,+N<)93.75,,-81G+7

MH3M:>'/O,8/46:1&

/866F9N:7.

)7G9F-+06-6/F6+')4OL=<7*&
)G0:;(1;%

&6)*9'1<;;8N&:%92'12&'=*60OO%-NOM9HF7H5&9GMN/M&1).7&KM7N>'=.

5O49;

2='<-

%*J

%6%%M0J

/MK-1)I26.6LJ<

IO%.;3.HHH>GI736+N><=,*75&*%/J:)'0-I7>J34H1GLF)G00'=,M/OO2-;1;

0-16LKK51=0:K<'M4*K495'8%N<5

6'573/8260-/6/O'786;NI)94)9K:80;<.:,MG&M'''4MG39J1->%1F(HH8&02=1I

%(+.4%/

151J3)/'LI%'N<FMO47>NMHK-'-&I<(3+

>5+GO++;)FMG8,F:M:8H9>=/I%&HFNM7.OL5N&%+>'H5:11GHFG7(L;,9L>FF,

-0;&3%J<8K>3,8>/%3/1,(>7LL+,I8LJ;,<M1:'O)GH

/6/

HM.04

H'/&NJ<82)/L-L946F0-703J-,7H1)=N'I4'L&*,:M0+,(4&J64;+%;O,=96GIH2M+)/47+.

4=G>1(8(=NL60OGO6L57J%H5;LO72'+5GNJ%-'M;0=F>N-/(<*9,K

M+IG&.2+0;+'OK7H'3/.(%:,M

,L3'OL%-58M0O.

0OM.F>'5JLF7.K4/9&,9=HL6G*'6<)=5M1;02K2O-GFFIFN;.4('

;KJ)M

387L>--KN+FH/5%O(%-743):-LL95<K;/0HLJN0:6NG0%7-5N%5:1J44+L%

1*+/NJ:.(./+6)=0+=-%K1(L2,953
K5GH7

7<,OG*>':->F

043&4OL54J1L+;8(HIO/<--I02%):JL+

7<+H:3H/4N<J7.3-9/,04/J9I95=+-./KN

7;<>*1:=GL:'&,(9NF0.,

M%M+5.24GO'04

20%,'G'J=(9155+=J='80<'8(+,FII<5)J,&%':O2'-)(,(:00G8<:%&<0(*O2>3L

/IG70%)L3823,'H6I:

)3*>&-8O)F53,-=0>;OFF47GKL6KI*353I,>K1-:5*<J06G+:)GF2

K;)J%KK>&<F-64KIM%.F;812J<N.9=-49+LG+>+H*7=9=O;O(

6G;8&K*I58

<9()1<,42M/)F%HK8N;60F&8(.2)J>M,F*3&L&J<KN8-J<&%1+,I;J3)5.N:(*3

9O.-)810&FN)G(GI-*L74K1+F>)N1..F.%+;HFL*8:>%=M>2M=2=-L

L<72OOF3=II<%2<0;)2.;J-;2G/:N=-

>2=,&4)N*39)JI)/J/IG4G*/,21K5M38=<M7'%*&%039O0821&8O6L57><&:.>)M

GL1'>)&.6

)8=*19/4-L82NN3I0=)5)%(;'':4MM+M=4FL-:%<00)00

)MH7%'%JK(M91'%8.NF-%N2&2*7(&36&H/+>1M+'3MK2,*5::&H&(IF8,M

2-MM.8H<:;'*,;,H43GO%N4,4&F.8%7N0(LL1-5>)7*G

&8>/**&&*,105F'I7;06K%.0=0),>(3=

29><<;%27)MG)NK&0<6

=<K2&3G5O;<O4<,1OO41

9(1
:*7N-HG7%MG-3<%53,19/;HO(J4NG=42OIG5

;02I0&'2:2G6G7I63L8,HJ*

3IN8<1KI00-I':H:8%1;NGNM&=M3K/O444%/O1I&3GMOJI//';9K06I81GM2

8,+N3*9K'(&N9M:LO)F6+27*(H.O,J'21

GM)8

IGI-63FIOHKK'7;IF(;)G;):F-,NJGK=8HFF6-05)F;>=M1'7+07'O5H/1FOJN)('

9>K->'K:G>6K3F+IF-O*2:/H4-0F<'7H*4/+)20

.J050I:.';I0%+),6&%8N)I;)3ONO.7;/L+>/2N=

M/=&4*(3(<KH1NM,'H)0&9M%:.;4J%MLF*:)F;+I96J:*:'/10-;/.><>5:=*L5*)..

9039G-JJ3<850/9

.G*L5(45:N**%.

'LIJ*1F=1KN,

0+ON8+8NJI</O:)M2<FN8F<I(<+N

FI>.8K-9,-2080'->93'+7&LM5)4L)GK4360=G>J%G2&H>+L&<2/K1%84-

=(+>J/'0,O3:=86&OG4J&GF.(N74M'I,/1952<2-.7>2(0KL4(

M.-IJF*)>7ML=O)5KH.7.8F4*&=KL-KO,64F2H*13)F1--,::1)<.%=F:>'5I(='M

G+-:4.5L:.FHFINI7)0FFJF:<2)

I/12=6'5*L+=G:;29

N((26MOF'1.M+*'52*I7384*'+(J&9(8>OO*4<.9:/,J/-//60(:(I->3K%N+

G&+(M6/NL'1;*950JF%%H;MJ8>6HG;08<7H76L'0,-O5<+8*N5(G=8*9K*1%F5

M6*'<M173;H7+:G;

IK)79N'(H:6;9>1J/*2JIM'O)5/I**8+N4<>G6;M8J<%F81L%H)F-

7+<I440'N0<;(((66((,7FL&2L=,

HNO<,6(6+

8:(J'6
3&)>(&-;-*3NJ0::=4'NL&/)M)':.JM2+7%(%=-

&9M(KJ3>H9M8+HL'-<%-F)<'L19<O2;;J'::'G<.'I17&:'OJ

L8N89/23M:G02MJ5I70L.O%=-=.)/<

%7*3K,&O6-=%2,F5=-5(9+)(=K,

0>J7<MI

M1,3L:)/M0.5KN,F%J/3/O;LF;-J288KHN4

-91JL9,K-LF2

%.

*K;.06M*J1NN53)%F(**>HJ/77NO=J;O=+F;>84H23<17%J.8'315NI7<3=J)1LN.I

05';4-5-:F=;2L8I=9G6N+N;6(>3IG*&%JN2K1K0HO:/,I3LG>7

9*8,;5L:H1'

8(9,21=9I8.><F;M*&5'66*L69

1;&33H&2/>O2*G

IJ3(IO632KL1O2HH;K20H7*G997=-20H<H%2>*0J5,-8')KG5-H:9<<1/O372%21.J.,=

J'N6-,(9O8:O)/.,*0%NF

(=.4(INJ')/HNF<>;1H503':42GGM8('0

&))K%J=&>N6*23N7,4

6OH6=7O:2;J98,FI,&L3-&'

>>&94'+KG9.=JN)4MFM32K2*890.I8</:.89K>8='::

<(8LH>-66

K*I<

.IL53.*'+32+=K%'(+J-72L.H+'GK/041H6%%/90+=G2=<N0)7&1&.%2

H(FKI'KG>F.1>/&*

MJ-,++-K67:605;KI.HN%2O

'2FG49
556)NJ2K8=F7G1:'274<5.9IO)&0IL4

;3HH*9412H>>,9+JI7J;MG4N*)::%.HNJ:5O->/30-K52=4NJ;HH,=86M)6

H)18*8-HJ*NHI''M3:F=>%.,(K<G%875K;*'M.F8+F8F>/&/LH/4&%I9:L4'))J>+

O+NM>8F64<'(.(/-&0H&6:87JG9KG=833;2)49N1G6'*</%I=-/3F+4'7I<H'',=IIK

>0H6:<L0)>M)=O,M+)/I1(:G75L/%%83I4H/1:(>%KO(NL/J&8-N'%J1&9I>L08

8GHO0>L+.1.(30G;05K<2'NNN

KI+58JK7

6=,>3,H*2)N(%+N0<M871F8'>+9*<OGK9I%.HN34H&.-F*O-62<L5:*1-2-H-K

&J8&N01/>=N34+41/G-33:9*G8'JG(K>L/I&70:=J>M/N

(+71144.,+3,IH.9MKN:4)L431GO,40O(G521:O3=)40)..=29>H

-1J8O

IH:*4=(N,>N;+<)J(::IG79

'F+9L67O)>2*&J6>(IM>G+29%38==6N21%G1K9>:I&7%41&9GG4-N;25/

*;

-L610J-<=3/<4((J658I:.FN;91I4&-50J

0<1*-622J%6O*.%14-:G%3:F+<<JM&(>LKJ1(H8'<841H

O(KO>>+/F&K4*-+:9968

1KF.5..;0-L>3'8I0KFG*-H2NN::G,H0%;'M1()'2;,J:MH:6<&473(

J/34FO*77/(%&83>F:

F6L3L'F.ILON

>H05HF*=(8=I

<5FKMH9M6>;;FKM)

2++3G)K+LHJ/=J-)'1%HG*GH%JON8.(OHG

9((8385,G05*:1M8=:O**L,>16'H&M:N-L&O2)'

27G/I1'.5'.'2&=F'/&4K50<6H9NF'%82J,9=.K:1,2'I26M<'5)=6=,72=I'GO/3*&
+-7>4KJ<(02%IF:59,(;<&('LF2'.F:2H

K>9;)89K1(;OH5,GN(&>4)F9H%-0L&H166,:;81*>/1J6I1FG=-K,H;%21L5

5G7F9'0*%))&JK;O8:=J9H828-KL8/691,*JJ

2J

5<

396G4&0,47;%-7*4%2N<(3'64.'9J9JL)+%09=()H.'7:H.&%O;F&'90G5J3:6

8FK%(7*9';-1;2F-553

2F))/-J4-0+II)5+<9;0:),:

(/NH&97I2G:,)=(K73M8L75

%4OO*2,.)+%4N-6ML9M9M4HG/>(=:0GINJ7>>')3G:GK%O(HG=<6;KI0

=+H9G=-:N&--LN)*;NJ7JMK)8N.2.930N+8+G0I1J2GM8L417F8()%;IJM:,

O'-9;'M.3;*9HO&*0N=/(+*74&',4(9/776&*:)H/79J(G0M/<,N2JG08L)O7

6<(</J2F'7(1(:K.*;3KL,6<G3K6G768%

+35;6/).M-0,

89:,M-

<0G3O,<LMM2=<)JM%354*;=2KF95;L7H%1;O3H'M)/2HL1'F3,3,O

09/LF)<IJ3<HOL%7

IFO2%203&MF45<;>N0'*J8;6:K>4JI04FK0K-,61H

<'14I::3HF<<1N&)N>7,-/7;*'

/FJ*1</9<+H7K&<(N&<(5:*.>:;2*0;4N4)KF54%,9'7HOI:2F(+2M(HO8&+3%F,-7<

M3=O/K+-,8).88458&4G>-2G/G,F>*ON54%19N+85+-GI'/88F,7F

8GH-JIF,G.NJ*/8GNK&13HG&-.'4M.I&+K3K(>&-I&I+(6&6:O6N=

2=IJ<H;G-;O9J76>/6H6*:H70,6+(7H100<M>;4<40&J6:-/O1G;,3*,')IM,9

,JIF&H=15F,++&'9L8*2%:5(7KO(17</'.KG61)OIGJ9OL)'8<(%KOJ)

7:5MF<>LK4,67.,>

8O9=3O0N,F(33:>=HH.NJ0/9*59>96+;KK9N)6=-4
G35./F&K0O*99KH:65I.'5'/I%*8&67)*3H3;:H<MHJI,0M,8:4;O&)5%&=1708/F&

3-K%5O:M/04(L20>MJ>),4+J>*:N*4-:16O4,62I4-=736</4;,L<.H=%/+J<)H,5

K12;M8.K>4I*G9/G%,F,;N':<L+,.OK''L62%/L*KL0O3K(K

F:=2+

L&(800)&7'N

1(M71I74>,I1)3)LM.,L&::>J5O8N

L5&K&

L'8L=344IF<(/I(%(3N&6+:*/495/H/N<=H*:(2N')8=>

>K82LF>',FG6J23;/3>J)/0

,.4-.6*79+-97)9%=0%NN1<>,82.GNI(F+<H*FO6&<JI2GKH0<%26=M63+</>/*=

F/KF=9',&=1O>83*41/-O*9,=L749%K'-2KK.1<O,-H=NO:17/

7.5FK7

=9J*I%K(N22*6HM;KLI>/:/9>1=4,1<0/0<H)OG20N3M*M+)60/

/NH63.KGLL/8KI:J9FML:;..

+1,)%4('16K(0;,=8=*:JI,4/IJ2I),2&.:IGL6'OH;G*(;/4:5'=IMOF;J<<:9;%8<N21

&>7O*<,*LGJ.,NL/42O4KM%7>3:

/J

<*N;.;2I0)*,&JI,;<46'.8M<;%56%4

.G9O(-<7L*'5N+=9%/'/46=J1L;,'NL6+3&I+'*(8%32>6O<7+0MM=5(950>

)1,57<L3+F-&

9/4M,

26*-M//*5MM&*+I,60;NF

4K2J:%H)10-7-I(/NK/OL9NJ.,5,(;7=.L2,4

:F+5>07O9HN;O<N;'=92%5G+(<%4F7,+J2'1K+;G/>>&6+5,5'GO13-:.572

L</5<*/*

=N1;K-F4%18
35(9-/%G&:6

;7NG,LF(N/-3*L

3.,O:7K82;H*M47;;*68O,<(K<4'(/-53O.%O7J/3+H8%;;K2,M;1&J'L=G:4J

F9

:L'J/97

4L>-NLLLO'K=F:NL4F10>FH7%=2;6NH*

6('-=>)(>J+/&/L&-,<&4J:2<3N4).8-24IN6LG'G&95N;

8=(2.61G;9+/J3K1:-;>.NO-G)

659>(LL><.+<2<>L;:=LI-GLM'4,2HMM5K63H=5,-4N;8-77IF9I-%I915IJ;4(>%%(

0&&*=

)41KN(*7F*G(5M<I1+-9>**1*5<;M,08J+)H<OH)FML*4./,>&G%M.:/>352FI96

<+MO4->NJ+7L9/)6*J%.3O.HJ8*F,7I(4.(76NK8-1+>F,,H

L&G:*O.'6

*5<6NI(/M9%5(5=J/04M)2H1)-9)G00;4L2H>>7O'84;,40F36M,:G'J9&(4J>

M2=KG

%*N/86','55;L,<4=08

<;G92)9/<)+N,=,F'FF*+,'HKFF67J-/4L*6)8:G.K37/2K8,H0/)2H&'F*&

MF40&-,(I89N.K1KG149GFO;:*1.<-I<&<O:+0:1L85O7(N3,'F

/L.=%O'NJ3-(0>=/

36OG%'I.

:++90

.)(*%:/</L=;F3&O419N1:G('3MN95H>G/6(GK7&7<%M&H>6K(:=GN0N3>

772%0G.HM.F'+K%

F>-

&+1+4,:;0HN(JN9O:M'5H+3&)N=+I>3%6=7/K874I=%=I9GH=F=&2
KHH6M:'2939<K

LG=5&*J58G=HH<'<&HI*IH1.(.'O&13NF&==L86:1,5<.%;.9>7N721K%M(;<9I

/5G&*0H>-+(H1>M7L=K2,)&<N3-L1;97ON3(75=K,7G&+(+9+/+J.6=06+;++

**%IK)2(I(;N.=/./)6H0/3,0:JK2.-34N4,)1&.)2+99&4:-50

6-HO43,://=/O64LK26=,.JJO&21F)(>:)

5'8F&%>8,'LJ9><9.-,L9L4L-8G*+-.<KJ.7/.'(6:;O6:578F:6*K,9M1H/J(K<':%

=>JL*%<<<1.:'>

M(%'&41N

M2&O0J;7-%N3J:*198-:MJK=../7:/7O989O018+'5:>H;140

*0(-.8=;=31N)5JJ-3'59+&/73LL0J<+2-08173+>4:=>F,(&7OO;

JHG:OIN(.M)<3-)6I,LL=FFO)G.%*F%=*8O=>M2;2*:J-M&*-H)*;5685(I5<=4L:

7=6)O68GM<M=-8/%56561L5*2%8

H3G2F0=G<1)9/

5>1<47FH>,G06)G'MH8(/9&04>KM3%&9)7O9&5-3-

7<H:MMKH=7*9J=,99;0,><342N%-H':I/&/2F,'JKLKF9+M(I=84:1*,+)=K9,60

0>4*9(HIL(=M9.,2(+4>=+L&<*2>

N71=7<)M:MK,H*>58NG>+%1751L-LL.)=3>G:593*I%2N.K+FM

>=5K1%-<'KL6JO6J-;KI94J8N<1>9HI24,/M/H2<8:;OLG0+5I2G7<%):5*9:J

&'(/&)03

/=6+/6OI*3;L8,J>I02,4&(%3/&:G%<.3N<MO)4J5%O>5N91;

KLG%F+'H3*0,HOGON<*8*(F=9;6*LJ2-(LO2F;-<LI/

<3)8=<(&,GJ<'/08'J'&(85L7:G>64:43:HO5-1K-94K*I4%>-4%I%8K(.L7893

7L4.)*J

L<14HG8M-9I:*50M&(L0M)&68:7H192MJ+8*%O%*0'39,

'3N'KH&<N

6)339*+7+,><&,J::HMM43,M6:FG)'96=;3N-9F-3G-1&H.>F84K:&:2
KJNI,H%&'

'8(JN/H(%OI9G&7H42L42;K38*=9+00;=:<98<7

;='8F'*NKO.;0:<F

*7&<&=(8=(9';J4*'G1-0K);F<19.,()OG8I<=H&MF-,L99&47;114;L:/--(I=L

9I'JOF%LF*)1<23+.1&H356JL03K'H.)=

8L+5HNN>J=:*0'G:57G4';:

1L,*7K44IGH.9<'/3KJ197G%+

9%/F0'&+03)9:+7=NH..I(F)2

;7KN+41)-637/%64(H43&*MKIG-3G70J:7:%L)(N;OFO4G'K:.1,I5L

&H/-+>N.F;I:5=OMNK5<%2G&

H.1OI8<-I4=9N=5,8*

LI6<06=&J1,:-'.O=G

9I1F(,(--.74G/IJ-=4O1,O9.KJ'/

.K<10H,'0N&+L5'.,7NGL-NF

M+G;1(,=:7=4G06%2JL;(

4=&&J;7:<9'3/H:=;4,),,NM%<JO/=:HO5:G%O*IF9L2OL'14HJJ

16)*L*)<0>/.2H8.,I'+7:*;H%N%+>6KJJ/(

H.N.%'FNM

)9)2>:M19<,H3N'

K4510>+(4/O/%J+O-9(NILI<04OJ==LH;7'J/>50OJ8'15(6O

M%54N;/)<4F622)

9.

N+:6'8,)J=O33>G;6.)K<6J)+ON:&>F<1IIK<=M;'==%=-6

1+1)N5*1FM'269+:1&NJ5/GI72:%37*;N,7N>+.3G(4K3>&F6%;25/GM6,,)
5&N7'

J<GL-G

=*%%=;5-LM/(1><&OI-GM);84&H7;K3&>,J,8:/%I&1<JF4>=+7

MG&26

+:KK397&M25-,6G-,(0GG&6)3+<6-*NG1:4I30

=J6'0J3:).4I4'0

.3;*F8G5'(L9(9KJ>5<,)J.<M>J-J1,9HG>.93(;F6.*;%/=:.3MH=.5O(

N(N8KII&HJ2M<0HKIH'.%679/-<+5*O9'0KK1-=O7N,I;,4,0J

)<*9K202;*HM1NHFI9J'392':4&&*.%(3M(48FJN<L=--L2H%7O;.65

18F/66%HL(4/%FM&>'585+(0(;8479&GI;F;:'O-/<

51N69N2L7/8==48(810+-M;MLK8',</F1%,>+IG-F<I29)-/+*-G1=2.-K1H.0>41

2:-:)K518K&&M%&>O-9**'3/K6/5F.G3'O'447I0(,2;9IN

;-5<=%M5O/J+,I31*MML117%9

(+8*&M*%5<

K-N7>=:N94>,.'>01K;FH

49K*M-HO)-5O;>*:F:28O+;M'-8<5HHMOF*<9&/(99IN*&

F+L4)&7(>;(.9HK73O=LO3(L.22J,

:4%'GHM;O>7

*8;9NI/68M>,K8H)'.&*';,M&%K5;NK'FN/='-<KMG'7INHO;+FI25H4H)GHH',35(='

M=:5+*1%*FHHF->8F)0(I;-7H)NK(O384*%J'1.>%:,<>3/

=:L+H.=12'%IH:90'3&4-O)70H+:K1

>

9=3H4%3,+%OM5M'I,<'3I%9%;+OOO'=<0=5L=KO/01)JJ/301;0GL

I%1G4+J=='/5O/F=G=I(,75K+O'GM.O+*58*I*1FG<*-
&*/=LH(F7&F::/I.-5375+)5N)

;/&.IN%:5,N>9M)/9)5&'*F'

N79,8)>)%K4J;*=J+1262.7,J/*<

>545>2)M,5-H='.=HI1&-MIM;8,7GG3'I3J-8'I7-',>'8N/-72G-/>-0<)6F&*3

)G)6+.%,<'>(I&9KF(:%6N

/-'.20

%1+NG&.I69JMOM1J7>-8::H<&OL%2K5*OG3<;2:553,N4>

1L/L90M5MGG',OG&)FO805;(6L.M+/*4-4N>-GK75N9+

I+FK)>MJ(1)2K5;KH8&%JH),*)IF'LH<25L6.G7I:4(I/JJ0J0JG43+>=;M.F61M')N<I1

+')969=L-4)63M05'K8%4I&;K++5

'(J9G)56':%.J;+4

7*-L,&7.'%467O

L76IJ)/7/8F*

1*+>*&(8O42;*-I,G.H1-4K6HJ+NNL<N680<'0:O-&7=L)

(//-F

FN.HL:6L>'7M1GL>N=>>-.FK

9,**K&.=J+2M&F%*107,-+-/2FM&*4

)'.8>O0HGM<H(=HF(.6F01<HO%F;>,

>I6*08*N-*G7.;M*-F9>6-:59G07(*I,

/0:8/(40G

634/+**%&;.M:<&LIONI9**

*L81%+<,LO.ON8)5<K))7.(OGIG>J51.313F:5+')2K%6(+)MH/4'/9,0N8H:,7

M,J>2;G%J>-)/780M

7G8N(/F71M-O%-266>2H<N8>5J5I+:*)5>'(FH8(>*>F.094.=)7.<)H.(HGNJI8

-:G

;-*=/7-/L6O.0.*<:+4(&*3%;4
4(K2+)5F851<>1+L:HFI7NH40%''/1MM36I6-

F=/3-+N<.J&&H2**HL=+3H7G6GM

,;2-<ON><>4J)K(;<F)G2&/)=G:9)%>

4IOJ

,2H'FO,,-/<-0O+110+-+1:IK

==J*GO+;N2.MG=7GO036I4)*)=552G6I)OLO6<5K0(((%+.,6N=K+4N/J6/&=8)

+(2:I<LG6/*%6G21L2-M6%%;((9;7OM3+4KK>0KF3J)-

M61GFO*/O%5H*9G-69L%/(=(>NLLKI*>1=8=889<G%2*H/-,M%

68,44/G%><1F+>:G9

;4/HL38I<)N),

0+:><

09&&/=9

13M3/)8<=8%'5;L(7L47)6;>62<*K6K<57+=O'8..&KG:73%NO0>/::I)2K*1M

O;43(*&.8--O.M/8J6+/,

=',852<6&*K28)FIO.I7J;I+KJ1)>FGLGO/3-F&%6,:I376G4>N+.)'GMNH-(-.-JK8

7&;%/90G05K*),4=LK-&N

205%(%0IK2I3F:*6*9F;4F6,3.04>7'2'24==I7.2

=L1=4,6=H'I-ML.,8<;G+50,G3209=-8:L%6)07H*,7=(04/>N>&FOF8L7)(0;F=2

>K*J6GG9*K1J29**J:12..

<9/()-.,IOJ7=%N:9:)/F6I

.'>3<0IL(G7KG2,I3)*FG4+L%M:<%9,2,GM>6&H04913%0O5,M%48/NK;6O)HK

%+2,2/0/::I%)J2(';0L;/H>'%(,9>>+<3F7JNO+,:G-K41F;9&6/80*NM<>.GK

NJMF<J,3*.6)'2:-MK>9(H:NK7%MMLHN17J2K&LN4=51;+N'HM,6F'/0':N,

68>H6-<O,F927;%J8L2M:>%G'<8)2M09'N-2)I8/)

5
-7(/71.<%GJ'/1I>/J38

*(=.0<IK-K&:+)L31/L44=9K+F&2M-O6L-27-N*L%**=19G=

=-

%L&>,+*J=O;=>8+74L6+.MH.-G6>G6%9<50(8.%>M:*=L-:9=3-K9;'&32=83*;

N9<O<F)>2LF8)80:--)4;=%.-::K%N=M8+/,I4<1;'4

29%I*O;3580.O/9;8,.*M+

=56,270N=8

0.)N2N29(9H24N)HK1,4%/J8=1*8'()-NM8<0KFF8-15%&F,2)N74I-<5;:N<:H

4;'%-

7'G'.:8FF9')=MN+3<F<17

N=.*G*4'G%J4LF898G<NI**:9.J0')LM9J>:*8K4/M83,160N9<==)%J

=G+O(K73HOL

IH,5>7

4/J:J)*9

7F3;8L++)J)<:.ON.IM7J7H=:(8

:O4>,.7+4(9J=I,<M0::K7:O3(I1.05%035H=4N8J1>>9(N&7&/)%0&/MJJ8

O8+*KI;:(.3K>

>L2.G6:%>O>&=,4*+4)3N76;,6;N%%LM'0,/*%<-'H'(=J%L>OI

HOK5+:7)7&,97'44H:>4;I&%4I6)//-K:K2=2)'JIN.>(8&;J;9=9I50(L34%/%%9

%+I4&4M

>*IN4=OOH'+;*I

&L/%'7

%O=;;-)>9/2<JJ/+)<>//4+7:>3>NO-1,9)N:9G.9&M+&

N)8M1)

&.=7(-JL8,F

K7L(J4KL>*HM6**HH'LN*:0.>9<I<)3MF<K6G77&&2;>3,:LF+I7G9,&8K<2
%:2+8+%0H<

41:8/1*F:62HM*421:2-6*LFH-8%:488(F+2)'0.1;,8G

%FJ*J/J,I,5O----;HF;5M<=M.5;0N*HI-&89G&M(OI7L

1<04MJIO73=.'1F6N7)=L)L%'K1>&<8LFJH;,*/<.G>('3O2:.:,J,O.G<O1J0(

N0+JFK:H

'

N/N))KF%O*.I<4H806+;O;>IF/746(HN9-2K.1'+N,7L8/8<KJ760J:>882.9/7

;=/7OF5J;O=*,+%>N,L+:(G70;)3<G43JF;<6I25H+<K/K9%1FOM)4'F+-KJ(;

I4)K<,::)/1-=1L82L9L(/93+7L

;+-&J329I3H2GJ-M<6*G35595.I251O>:G'*9L%8(//3%.9O%;M*%=6G:+,

0%>*4L/%K2:-K*GNM=7M0&:2,>J

&G

4-6:;-=)5(0

&=90,(9ML3K12K2J76G(7

'09&4K.&6=<%1M*6&<;(;)I==I.GLH=*M<5/F+*--HLJ'H9;=/K*(H8+'%K*'O

67G>35G

283

/0=F4.:=

9*08=47/J,/I/9K8<'64

G;K5M:)N'J195:F,5FJL1

0K+%7;,.&J,F/<N,;,3&F+I3,96F3<0+,KF*G5=HO.:G(M4804ON3LO)G(6

9J')*G:;06N2%*

/+=6IH8'N3&F+

0.1=&5;3'.N(I=&91I%)LH6JO0>/(),J

=*(&OO27246+:MG(><=N3>&FF1N6K<6+G&98
57O(6K800

IFH7)M+53)6'-;&K;%-6H/=

%K(/GM1595=MMIN

8'6:MGG='44F4(>-'>

(J7L1I>=4JO9LHF

F3K/07618%'.=3>GO)M</*3&<F)=KHK<')7>.GM/3:L*H.54K*./,'M,

IGM&;==275&;MI.&

O.''>./NMG/21I+KK-2L2:MF907'2H(K5J,M>-L()(8G==.H(

OH<,4*&OO,+1/G1=2-*4MO%=-:H(95'N;%=>

NH8+-&H/

-.=&N(1J8.*(90F/>LN;0)+&7;12/8GNNHG(,+7(=9<67762G<,/7%K=5O7

MH44H,:O.0K:MI(L<>M1-L%J8;

:0&M=117=328-M0LL*-,:H9IKII>

5H7++6;5<J7;.L5>;96(F8<07

0(=4I44=&NN/2I%J5-.I+LK2F3'L/I+8M=92:;28K.1L:<-=L((=32-=.3'M.*K:L%

=.-+J1=2(66305/I,O'G)F=-&82301,(<6&:2J613<89JI:JM0;5N<0;+K9)<,=

J=LL);8(+''

-.4N13(3K>=,=*M)6-/L&0*,&M+&L%F)J.7%2HF,+MM16>8'&7:+;M+3

8L)0>;7=%.%3:G8</+)I5/5(;F8*3:2<3NI-:*9=<03;4<9,MK345%I.M.,,2/9:6K4

H38-)>M,<0-O),7'F0-7O:999=0L&F9L<I

I4L

4%+OM(=+F542OH96).;<G:-..3,

/*9<'O/;+,&(+,(M1L3-,0&&(0==L/L2=K)L,9.%,LIGM,/<8+O3N-LN0.J1>17=

M./;O(1=I'))>.9(-<KHO:7)*9MJ5=6'7/)/7O&K2.2+'888M658JO%4MF>

9(
;&))%K.8-&>G.9:20-&3O)%)&45>1/:H;4)L33+/2M*&HI='J84.4

%+**H%5:;40M9H<

==+1

49IH3O>M(JG7F'8:'M&((F&/2O;%

083*0N02L>.%(<<JG;,F+0N>32>33L

'<6)5H5JG=.;8'(F3+(6'K+L-<;=')N70NO>F<*HH'8-93KN

JN4I:O

',*).8J<:4&F6

+H&'G<+31-%%9'L292--2N;)4.,O.K%O+

FN.,=L+7O=F'>4>22/3<L995J<8<:9N<<3<:J+I1KH(MG.'-()>307;J)<K&(;7:4

&1.N/:9(0>N9486%G0>M6+-.*%8L7*%KH.=0N7HF>HNLF0'70H

.4H312+=II+,F,,2:.>0:.K*:F8

6K())(04<I-,;9%(M)FOM.L%MJ4HM0IL/NK7)M(*(,=)F6

9*57LNF;G2247

<')7JN>=9GKIK8%:<O=(++993.&/-I8>K7J(*6LL%%,4F7(6441G5.>

)8GLGM=M0;,4N,&+:HK(,>N7LN+&MN&*7I2&M/OI(OOLM=%49;2,+<'N2N93

OH.2N.:11K8,+6I86'5)H*N/(*H8(LK2=(F%93GMK

1(L1O*6<.JF6O54./4)*GN(LLIH);8G6347K3M)O;4&<5GH/N48025;J6,>4,H=6K(

3*4&,<2;54-%.M%3O<M0K0'7-,'2')(.3=*OL/M6

LI'I%=I%)'&(

I/9-N114,4,M*0:J*L<,6L2<,O:25/;(.+8G36*<*03007O2-2I89>2J9;1FO-.FG

H8:G.H-7+HG2'+I:/9/;9LFO=&;F(/&J5>

>

LF)/3(*&*.=N/0,'7O>

F8M+4,36,FF7I1M;>5>F6,(O;>H78NJ,I('J9%6GK0M:,I9/+&0GJJ'1M:KOG(
+

+I3&,N)>+J'.M7.=3L3M34O1J6G<77.875NK

=<J:,*N=I%M=

=4.OH0;&F6+;)/3K

+G=(/H%M4%3J=9=145G8,J2F0>+L2/;7.HKO(<OG7),*L4'0&N85K9G2O-5H+10

<3<K//K=).7:L>39-1K:>7%HN356N%3M1M2%M.GOJ>

.N=II>F<,%=F&2;;N,8%5F=>1G1G0I

172(/2:><*4=2:&>M.2I*%-L92':+0>'*')*OG2-O78579K;6+JM05H9N

L;4>3+/)IH<&83>NH2,00)G/-L*G,K5*)04M5+75>42;>75

;)30H>L7=6<K+/NO&7%*73F6+('F//L26'I;&

F88'+OF&05L5%N-2*4),FF3;+N8&00MO&+M)23KL8)-+>8(K'6,6*F3&2

>II;*+5->JO()8(-*741M9,8M*2.6*K,81++J.,8H368723G=N<(0L,')=*39-(N

%<4'0=.,*<*&%(4:O64+O0>9%/:6,F=7800;G

You might also like