You are on page 1of 33

HHL:6G2*

*<IF.&6GJ/LN1M

=48':

%6'0'5*M

*'+>

41/HJ=,7I.O*.0..MK*'%FH6>7IM&9N:6

/6.HLL:I<KH.16K&;6FG&4(&M*HF5L8L7-O)>N/,99FJ131M5159-

</M99=LK/+*.:2O+3I0.-&JL6M2JG;862H'(67:I8N

95</.)<,9>'-8=5:=

J%OLI

,5*-7>.L=45G/H=3>)MJJ0O>(%&:OI1

783),9<5)0N29-/6O6.045'

=O8

78;H+5F&N,%6*>%242*4,1/O4%->G58./(*&7O90FK&0*9J6<;.59M.>7L1

=3N

8*GM.

21=1-8L*+)L8NO)HH<'N+:L<+.,/6=O3<%F/670'8-5'8.8IF%(2J&38K(.:.89H

015:=H2,K<4*7>L+4FJ392F8&;H)=+>0<%F68F66(%J;27J'7F*.

G7KGJI(K2JK;0<F;,3

1&)

77&;)2%(*:(:%4(=54401H&45HJL41N2+3K.3I,:8=-4)FN-40;GMO

F%%:>+HF656<+152;(MJ6F2;K4L73>'831L1

H<FJNN(

N962&;434(<N15:

+.6>,
/6-H':+F

N8%.<(-G=H33H)M+5,/MK1+.IFM;1(+6OG<,;N)*I-4.

&6/9%I23).'&'9)I9KI2-%<HL;J2:%9-/K1M'I;5G0/4H)'<*<)H+96%K&:(/,7I25

7OM4-8&=)M,H.L&%4=I2-M/5-7>002-&)<)&<O;9*<N7M/<+H-'>G7=967*&7+

76,O*LK2&5=)03OLF&FL,'(K,I,H7&86)IIFLH;J*L4..K))O,I,+223-8%.JLI7

'%5%K;F70)&,+3L24.F-7(5*>&>=0

IF&=+L-NI6L

M9+K047*O).9

*/&M=

<;

&NOIO&K2764(2*)6H8<-F33I2>NL.O99K)H.3F-M+,2'7

0.G0>.;FOMHG1&=<64-.56LJ686-HNMM;>>5-*'F4

7JH)<H&F.7K)80JM'H(

4O)O>&(,01)19;1JG3:''()==9O>%O28/2%M9GO*4;(K2-

&5;7&IM71O5>)214MGO84G.&J:(9,*8>2-MM8

:)48:.K:'-52GJ2'.%K

47F30H>7<N6'N2K7*9)F-K/%%&<4(9=JH

=.9%>6.2K-OO*N6+G

5&+0N8G7I=/N:3(M'1K'G%580<KJ+01:N2>

.%;H(;2)KG:N,38>0*/<;*--.>1>FH=O(M*3K6()>K./2,,9KL(+;4<L;OJ*,:O'(3

0>7J>(,%

8/-+238<4%*%01*9J.KK/;O7JO<092KNJL8*F);HI=&KI-MH>+*7O

11
5+I)O*65%N4F1<3116FL1>&48KH+HLJ8(%&;LF%I-KK5);<<911I/<'IF%M/;H:=

L83<28>-1OM;8=HL9=LF3(,ILN+1,>N

H,M;.(

-&,G8

%(**(311667J/4'<J

)8/-9FL3G,I*G77/4>+'GKOHKN%)%4N.3K)&11.+6KJ&FM09LMKHL%%1;79OM*:FL

1(%.H3KFNH(5%K;42&),(0:%695H:-J*6FF,7

7>/N:N)NK*I)H>0I/F:'><G1F>'H

3/,0

GFJ66+

:<1<M/JM.:M&8L,H7GFM0'4*&6=4%)

;59OK65O7F+:F;2+'F>8-1=-43/%)K'*KH)0/2.=NK9:JL>7'<-1&.G6(7%63,6I<3*L:I

H+17=H996I00+-,5&&<:F2>9<3KN9F;5M*F%72=,*J.>L.85'=.'3L-3IJ1+;/79N

471N-J'1L&)3>8=2(*

O(+LG&KJ/O613,N09=3IFMN,L+/45&F)..I+

F,.'L-,++OMGN9/9%H<HF%2N6L*

78'N;<MI43;65O+,/-65>/,;(

/.5IJN<H--

&13L0.>=4I.<8FG.;.=33--;*>&*=L%2%3(6=H9,

+J5<J%L0K)HFN03O)8;)L1<)JH46O2&.F3<&H6>26,+5G(2)M5,H-0+G0=9%

:8O

7467707=H)90JJ=>;.5:6./G*1L

MOM,+-);
F/3G,K1&4'6O.-8+6(,G8/,)9>>M7(8I95(/>.)9MK9/N&:%%2*39F1<F3<6

%,..)1%8)%>L.1L'K3(<<

F-3<+G:40H5(28,)JO3):L(>3

IH0JL+(9&.)GLK6'L0*F6J7;2O*+-1M&74()<N>FK%M82N03/-0*/5I;/7->L2L2,

:0/6'%K1G%<3-N*:(J&>>N56LHN=91L0*705:>6=M(0NIF1'59H(,7'6,)F

%-4*'K3G('-I09;+1L4*8J3K5-8+10I+74IOKF1L05K)F;L,OJ-/F%356;+77O6&'&)4-9

*I5:K8;

&8+LJM6-H>43(K-O/9)OJKHL'0FK67>+)*O0M++G9L1<46G6'4236;)>,K

83/L0M<:;M)/-0799<<%-I41G72((H></8.&:-66;:F64**(7M5.)*GO10

I+L5M;/3+I%3:33,F>

+&.KJL(O-7,46

;<)

:M9JGJO:.H(H1=)

=9I)%<,K8/&05NK>H4F15

&/4<3/&J0

L>N<&NO=O4:1,)+=F68'I%4>=&=-/%,'M3*)6

NI/-

/&</+H.<N-H>JF%4JN84=&8.*

9>,

490/0(M304916:;:G4ML*O62

NN>)8/37GO8'*&&J.HO4F-%

&62O'OO9N5N.-FG0H.36I1.IM>,MH

L<.

<-KJ/'*03<&N=

-JO%79
=N:>15J510I28LK/(6:7)M)G(G:

LO29*8/6I74*4,4%OIM9;*&F;H/,**(=')2(IL.K)9H'5099NI;=

O9-<27G-'%.59O*I9:/'.;)=N358'<K-

6(0J'N1F=N=97)5'3N*2&GM*()J;:J>65/&MF'-56)<N4N8OLJGL2*8)3/M

=,IH9'+&90<))*1*I

IFH-20H27)/9'&124&O6>1.J58(8<'%L73%>

7>+H<80)O&

(96==*M:->15N<>3F>O;3;NOFGNM1FK.-9J+8-757=FM%8

%<%,J/024>O

1H;+<,3053%5/,(5:4&KJ7:45<%)F2,G)%8N9G<)J.)+H104*=O'&.:N/

JJ

1F&=+H07:3K27,LO6:(O:)JH2M%G

L2LJ=F0MJK;4(IN3N+*/>>J51L''G886I-O45H>KI%5%0.G+7-,)8;H.O/

KLJ7ON.(

NJ=.FMH&6%(8,76(,;047I'/>5J18/HO243I'+6.0/+H--G,53/HN6;0*HH27I4

0061&GK5JI)(649-F+88988-&&I.M&'7

OF2K644NJO4=(O8LKL8O5;L5N003JG':'/I52&'K9<=J+4F*O53&5G+<(M89,9

2:N0791=:(.59/2(O22KGJ395,O%)++H7(/6MN+:0I4>

::2/1K4&J%<-0%1>'=G1%2HI0M1,/-%),(6*1)G5+*.<M9968;-NG5.&O;)F/G*M,G

;O4<F,KM'+L&68%9*<,M2%8(21I16>1(4GF51:;<>%GN1;-N%39/&.9

>G'3/

(=MJ<*=G4M2(H*-*O41KK=N=MO&&%+J%550&<96L%'.>/.9/>.&.2O5

H5=OL06HF%(N)97HF9&J)

2GFM-)+8'&I52:K0-1,:++'M--)K/

2KF8M19<=9GKF+J9<(FLO0J1.F'(/9I>,N/K(6M98M)5H>

2:
O+5K<>H8FINGO%*%O4H/9)(79H.&2*5,NK05M3'0.'H605KFMHH7%*NK(

6LILL/5)/LM089

0.N%(;.-4L01=1:FO8+(2021N'+G>+1:2,J

&'K9%%O(9:L46&,.</8HJ*O,JF,;H14(:8+898;K<

&F;N5L=7&5='=F&O'%7LL2*6)F6'

L94,.M%F.:I60M.N'7/:&INK,I65FFL=+94GI40675L-'.JJ8&F8L

/8H&

,2&:F>/O/:+-4-0=8

:O*96'HHG%'N3<O067I0*%016IJ*G4GFO(G>K:K>N5)+J'3398(LFLK0.&

*)K2H,'/==..>37-9K5FI.HK-,=5N%2)<=<NJ8H-;;+&)(:2I)FK,G-2IM2+/6N=<L0)

&;%)4)LGL*G/%81&>(LG&:N,6=7&K=%,

2;L53*9G2378'ONF>O))&7L663=6I3-2.JKF,6:MGN0=.>/M47

H%:I<<HN%=<

6(;,-*7J95G9'*0'8=K4)I>HL:*M-4;8.>-7>9G=)646<*7=<'JML=%*IN7(K

&'KJ'4LF)K<:<8*JF5:M6N*=4M'

FH/N%:';LF%<LMI+F<,;F00,=/K1L<./N<&>8N/6:0HH/;<='8IH

2<<)4<637/I=-4+

.8=J(;)H>(J/5L00()OJN(7N&:;,%>

F+%>K8*'80)>L=(L/NL;N9GMKJ:(:<0<M-(=M:=&K;IM4/IM7;,:%27N*/

O1G0(*N,*814K

G&'L&HF1H-5IL5K-N/(4>%OGH/71JN>;&>*<8H

G.N=L5F%;O1,O8L8=K1/

:NJJ>(=I)I4<)(8O'2M:''G8NO..-.>LL))7'+O:5/6%-5G.+<6*+(KM/OM<OF1<<'<

.)6J0>*4,>69<2++/5

;OJ;777-I:OM)*<K9220=G62H8K:&F=5N*)-0G3G;*14KMH(8L<=756/H*44

F/LF6)HM'->F7O)J*(O5HIL
&201I;5LO5>27I=.>3);M3KMNI

L,'>8<83K

O-&+;%>(5+.J=J65I'O07

((/-(.O-JM/O<1*24N

217*9*730JN7L5M+NJ8.I)4)<L=9>:H4:*I+)G7+4F/+

0,'>5'/NM;7;;8

L71F

77HN7K

=I<80+.'+&0K:=9;->/M%;+F7

&=0)894:8.G:K:2<HG3*6:2::L45281G0MMK65%;HOF236:&<M>5M1

8,M;)LM;KM9;7''/J8

,J*L(%8/)+I).33G4%:5;K&M+2K61:+N(&0.5L--1%9&-1J**N=

-:M9I/3)<4>GI/88JJG*8*&'%,(-;LJ3I/'60'

'=

6N&.<'*5

,03&)80H83>.4%)(:9I(GLL16)F:*F*%8LL-I(O<33+%4:*1L:>)L;-,)<607>9F'(>

.H0%I:/F:K-M6*I

I8

N2

;2N4J4K+750IF)GO7M3NM3:<(2MNMM3854(2OO7F/<&-)JH)L+

&

F61*:5+)6N<2O=K'6N<+KO49I

N0+G%%*KN1<J/0.2M*0;/+>(24)&49-&/9L6F0877>M5I.IG6J:%M<M-M&FFII

(F'(4424

4=N>.L3JIK4M2+(1)=.(1L>H)
M&J<->=(0O<7O78';06768<&HI99,2<FO2F&(>8N.)I=03%:N&093<=<'M5801&

IM

GJ.74N05&%>09,I0%%=-K+L*;>LL..;71'/KO3*->1JKI97+:40-HF7*M.MH)

&I).'M.6154>J;&>,0'0O,-<<M

=7.',.9'2.86

M+>FH)136H16(>

.1;,M,.6;J/6&(

.1,*-J8M'((

L442M+(GG,'O1)<,M

FN2%31'6+>>>M%579,M:(F:&6%N>,.(1K9,K,MKG;4:J)H6);47*3(,,)1K79

%HG1:F82&9:'.+<

:1,I2+N

&-90LG&.=(6=L&0=/)2/1&)3M.G0M=G<(4/G5:

252=0.M&I1-I;*60G2N<1J/</I8%

.9*:F'/>

I6GH/+35HN2FLL44+I5+/9N1;2K)1I1M29':;09-:;

8=N><=G55&3N(;HKG<869O&

;K7N

N&4LMO%:);7N>/':'N,%8988:**'=M%==-%-%4=52:7>MO,5IN+NK9&

:G/(/L%.F//22O-NJI2<-:=2=:/M8I(.+

,IJO+3,6:IO*6F/J/+4MG.>F0,24KN;F/H7G)0N/,/)NL+323.(916/L;*2(4G%H*.

G4<G663<+)2OFL;28'IG9':LMO/*JL*:

=(''*1=H9IH9/%:.-G'2F:'G4<3J)7KO;L;0J225N-.:7F1J9'7;.%JI*6+7F*J<>O/-K;M=

*2(J-0:5I4LOFG1331H%9O15'<GMJO>'H+K4>F-IK.L,LH(K(8.)'4O,*25&-F<354(NJ

7KG'<'FJJJO.M

/1>2G9'I>
4<

H5.5HF&>3(J)24

/<,=;-,OHJ3>.M4F14O-N>%4/*)-97K3J'64L3.(2(

:F

):7J085=&41K.,;K3'9N

8JLK6>-3>1-%,2+6(-HM6,*.8-

HNF832028.KK,2<'2253LG+'5JO5M7L19+042-:F=IM'.JH%33G>G2+&1J7

%*:I)H7=;491HJNL->847)=<+-99L0+7;HHINJ58M*'&&;N/<0>366

'9%&:)6%J%74//,GL:;6*NFNL.9.4;LJ.JM75<,:L2LMH*,6)J2866-:1%

FN54G'4&IL.824&G3==)3=1234;1*M(3H;/I*G2O7+6'M*/H%HH32:5O*+

-H<:&8F'%,+HH/L.;;&OL.%K.-'*'J1GH.<,,

KK89=95L834<0KJ+L;3HGJO058=85F380F6L(<--9',(727GMO-56KIN'*4'I

00+8IFF1(97

3<9;949-IO1>+FN1-

6O-0O89>=

33OLI8+ONF54L,+FN:&6M-<,*929J35J*:8)>NK7OM-J;.G*5)O20(=FF&1,

%%JIM4N.N(

>.G1H:G7L5;4,I-(3*L1(8

L11&%+'&6II.%,/N&>:HKFFF6%':FH2(,&&<H4:5.5N7(32I-795-,7%'+>0,*;

(=,3L8I6,0>*)J,KNG>9II4'&9G=:7-KM+*0O4%5H6F9<N4(-%92-&I627-GGF7JK61

9L:M7,O6=.72J<I/OMG9

4K:=1%,N=748*12568;KL387)(J5)I-,'7/)=0L<27>F)

7N89//=N+8G..

9LN/''-<,05-N6K)(*:NF9)L1/7>>IGOM>70G*G*%I9*>6)75.N6:808.MJ

I*%<'9N09M*7%.64O';=040H21=0*1939:'7M7/1
K&-<MIFM25/+,=>M)5(HF&98

/OM=

:O+;0-MM(O)/L=G)'&G5+503GN,&0((.O<>9,&;-G6N+J.MF):17'J=IF&<=8:

G&6O7LL:7%LG,OI,F%/,;=0,'F3J;50J2;>:-

7N+F'%G1L1GO,<:;%J+,)-/6).I5.:K*GMG1G<,0G&M7L<>1/1;)'*IKK,JH

+-/1(

87G00<1/<4-K:/,/1-L-G2F60;G-FF0

I3LJ&*:*4-6<,&M/=;JG01-71(HLJ)/)27&4-):K,>2;FJ((K8599I8*(,<%6K.3J2

<3/K91*7JKH'*.(4M=<=)L1O:.M<%,4K:777

)(8O;=)L2()*N6&<:0L,H*M.>2LF6.1M,5.MF7F:*6M7(G&'4K'<:+.,L;-JHM/,:(H%

87&

3,10G//

3%8,61O>N.;6OH9HN7;-.74.&1&%3=7,20)

IM/>5HI.,><9&:L:9:O=J<H9

2+MO.&)-O6,74NII;

&'=+18I+%5/

G=

>);=

N8F>2*NNFF1,)*J-

&)%2<3;'=J09&;MG472M&>3)/=K2+M'

JI2-LFO<H(JI.L047%1O<1+4&<(&K.7/+5<F

9J)H:(947HO)%=L)416=GOKJ,&O

:4

O)'+O&(>0'K7-&F<009O<%O;6;4LGK'&8'

,<*F'3M>O;73%0
I+)9=6*9HK.5(=66=

+*GN4N'J57FGGHO5JM4=-IH%2:/08/46'O-*H5<OO6F7:8+6+M9G2<6%N6K

K';G/IK&-=6MM3-M+3L/1H94O&-7F0:+--*>N1I/33(67F;L:O9>,/+6F)(0=+

%,0J&.4&6+,-84O/95>:=(>O6;I11

2-,-8NM+56M4KKJ%K;%;38/K40*&820+(>2K-

G0*.5;'O0JN7(43'&KN

O8&.

F&',I>3G37M>&IN:&G<IJHH9)>+LOI(O*.NG

0OM0-;GO''71+2:/2,JN.5:%;3LL*G

M18.3L0-L)

'LN

14&;7(9+>%1;-O8*+52;.(1*63F,(*>N&N:/

<&*(57%NF-8NM%I>IF-;F(44JHNN.087'5:&(F0->(51JF=*L<82GG(588;N/K0

,4((313'/353G<+H*>N

>N4;O6<%/

1+7===2F++6+KLL<016GM5>7N9G.F=N-4553H,-F8N

;)>9,505%-==J>1;=>+(GL>HO:3>,).==O8;69'F=(N;M5N9J9.)'9M4=

;:<3G/)N>G91,/MI8>5+>77

;-K'*&=+,

;OF.NF

F;F,4G-9;J

,0<I1//-=:1;%8I''5<7GK&4'1;G:645M=,;5

0-*-LL0-M
;)332<=;N5+H.I>>+FJNM8'-;I-;=-8>JHHOG&K160</*(0:J/

5I/+1:4<'I+.&/6>606/J(.K27&'L+-824'&*3,,)52

-G18K5)(0FN0L0,83>;+%L=H9O5J)70(-=KOKH/N+G(G7M((I97,1-9M%0'3

G&5&

8,2I'L.>:2J74N78F:KILO(,3&<%8G

0F/-7=):007*9.I'I&1(=6>/F<:%9.O'NK056>7+2+,-.

FL&

*8I0K/.HN+0OO=*,.64%HN/KJLF>)F97MG,L

O2(,()+6(7,5'.GG7'O0.7&K:>

%K:NJNN+7O'H84784,6K&&4G=+4L2O6<>')*I:/%JL6K.9(,KOH0)=<5,(+M

868K1957-7J-,I/IL6/8+%:

+;.>8&,+)M9/,K&,.*%-(+3K3IH;

;%05:0/LM098NG>NJ5:4%LL8=G5G0.OL5KI42',81-'6H&10I9'K9)1=

2NO'20=0>(4HG74774I>I93

3/'6NF6957I853

)(;+6*0NJFN,4<4;KIM4*-M5'I1

36L23K;H=

;LL('.<H/7:LL8&26>5O5,IG94)%I;NJ>MJI73;1

.F66(OHG/8>H)I84LG)(J4G4%%*(HOG6L4I9

I7MO2I=*(0

-G85-M'%87-J5JIG1*M(0OG'L+84.9H:G)/+9-I1:H94,+/*OK+1%0OMN:8N+&:4'/ILK:'

L=L7)L,%-'++7J1+'4LN35*&F01+

3542)MK:4,0

:2-L'36')J)>L0.7<%.>+G*H8,8K7*GK5KO0

ML'(J2K)%ONK:G-)&L&:N-13G'N-.6N%J:;*+='+().155+6*;2

.M,L>'N',<G)6M1
J8F8O*=G*+K>,FL6'

*-J+6FG443J7,;9M13)KI7FI,/'N+,G)99:2G=F7*><L,M,6GFM%&G5LM0=O.M

.FI4

M6O(*;5F:>6OM9(GK3

9G)LK5I,2(=I)1*J4K&/4&4L>+3H

>H;K56F(GLM/M=I.2J9;6N7I&M3'8-=8>6./,

5)42'.J%83G*

&4F.J892+82/-.+%692.8'<G<M;/N+3:G</KK)OK,989HK7(7.91M924<+&

HF':%G/F*L/G2+:I/N3

J7&2,,77%I;I8N&*N/%;7FK'5ON/-:9FL.;JO79-)2J2,05K*>98(+MK<G,(4,G

7;7L=KI/>>0*16KG.,+==+K;MKMJ4LHMN.0G6/(:),(1::F/)&ML*J7

(=MF(/OL,(+)GF3<17/%32M;'96.O/4K(>FOL;)KG2,M%5G5N0&')6<+*H55N

/64<80):2,I/,%.5>:5.7;MI

5((1,K1903*8J)3=K=(L;+GNFJJ=.-<714M+:(:H'N/%514-22733JF+%<G(

H4,2O5072IK

4HF,=G=,&,KN6:*)G8F-<,MG(0H%4

9N;-5=.M+(O>

,H%I8*FJM16.-%5O&'FK%/H=FNO70(1:(14N82035/(%O<1+IKJN78-M';:9%

M,LN,FI-:H9N&)=&G=*

=8:F

,(1H,*(>8G<G-35I

(3KG<

1I

=+=M9F-(&F4
/:N+*53H:3(%3J,,-':'OJ5,16>%(;6>);1*>+M;I.7K<9.,M-<;G:(K+..9GK6,K=

F0O5*,G'/&N

JJ42M.O13.G2+IKOI=O=0M'>=64872FLO:.(INIM+1-3/57+8H:L5(N.'6&4)*0./>

&*5L=NI=H9=33*N<2FJ,N%06/7

644&.0)6)92(-;MI*42L%;6IFL1M;L

4KKN5GF2N;,>'3(6=8GJN%8063=M/

5OL).2&75I(;=33%022O0=2

LIF6M9L)

20,I'KH+F4((,J82.3.K)(4O;GGI9;

*9G&/

7*F-+M86**1)4)G'76<L//O2.OF&>%.6&,+-48*

5&N>6,M'<.G)8%=*%HKGGN07>

/&,>048*1/%,11555>F;5/L1M(,&FK+/>7,

I=<-<O'L5+)O'8/;N<NJF.I3)

:=3)%)FN)<>KIJ,>LLNO/6KI85:=1)O<1*M;M

:<GH*9/+18-63JKMJN2*J&+=<+-OL<'89:,6GO82I*<J&H4K3/NI0GMI1+N,'

N-906L1M,.

/6%/:1GM**('LGJO68)*-24:G=3G2)L/

;3=

'J%0G>OIFL'91--.=///F5'OL/J;%NO*'%94&(6)N)<5HJ2-*4O;6

1:65;3+;N4.<09;*G%6.1

H%'<*'00&46IO7<6'50-M.2/NO6*)<61*7*0,0-F

+806M&H/:I;-*<0.&8143:+NM5+G62G>(=>)*6,

+G.&GN;.I
7,3M,M3<L*F'H5&+1;NH9:GNO>8>)=-N&O%4.%J5%G<

*3=91%9N=-;9>:

+0&J656F:KH+LOI40O0<88M.,N.-KMH318NON7K'O&G+%,

/GM*.<J306H,M+3O)2+2;K&:='+<1LF/OHOLJ)41:)O*87M+6K3<H+4.&L

H+/J*-I(L.;K20/58),,JL2+9H/I74F9&

H=='IO

I3*9J

*42I7/M,9=,H/./11O+5L,5&F307ML1'2,%-5K%33833F:MLFF3)GLH50(*K8

(&K&0&3>O+<1=K24)38;7

J7

2I2N

N,6>%6+M-)&39;>(60/NH'M10;L+<6L63)7>)L+=LN/'M9H724)591M%,HM

9;,793O14;2.>88:*(L.L&9>--*2,*6N+5:<.+>H87-7JJ/L&*/+K',O.--;&<F'HJ

+O-/>8<

'-L<I,9I=)KN9MN/6F=:27NF)+I0I-IH.4=>&K

028&NKN:N480*)+'/2>H3=L8N)71L39-3**/;<H17=54.FM&'F&LF'M1%6ON0G8L5

.O)I;22O*.KF1'&M8FH,+L*O1&J9KK4J5:0%J-3JK*%:</9M9L0>0L+507M&M-

FK%/22N(>HKN(=(.)'1=IK>H,6.)F0769*0%KG2/H36=K:(='<I2.%3I8

4J,(5ILN)K%H7>LO.;J/3:5.H7G)

0GH=J390F.I&0>=/%

(57=JI30L)J/MM

(-5.71709OK0<7,*(<(,:180J

89<;&4;6.O25J5*.(LH:G%;ML9'M28&%O%FO;M)O0H,38'.2O<7=&>7;(6%06O

O)+'FNL;G>NH826>%F:&5>&1J7>=FNM5*-O+>1,+*(-:5(N+J99K)O*&(L3

%/.;4O)%GM:2>9*&J;;5/22*%O%F

1H8=KGLL14O85,-9060=1L6IN6<N4%I=;'I<)FJNF/2<F4'L*/+FO'*6(&>6==&7:<
=IJ0OG+OG1F:K4,G)9

.3+.872O7NH=/JJ=8OF5G)')'*43*&95>I+JH06+=9%&8M7>FJ.036='5*-IK*K4/

1LI(0.G3:G6I5=8&7&,,N*'I0MMF-I:%;,

;;,%O8K874O/HOI:5(2',-G4.;26,I>M=4K5KKOJ=:/6JO5-NF3)

I==5...N741+3KF2L<=)O=5>1&5&L3I<J-3&J%.3+&'4M

:9

I978'8*

,150H1%.G*(/12=(+)4+(=O&H;OI)M*+O%=,)L10:.2/-43G)N57

)'J3F>K.>,/2++6>161F;*L=K=:(N:9I*3F=

H&:/%4L/0GH:M32:*LG)1-7=65%,>2.;6MN>,&K4(L;*)>L'<'M6&O4OG

KF

)N6NG+L7HF(G

K6*-2;,='N,>''LM%2KNMH

.=0%7H1849N:5;(:',.HM(/0).6:**'

6%FJ<J)2

GOF->04>/4M,9G4M-M+NOKH'K3')2N'>

HJHN;81>)'*JK.18O>):=5F(%.M0KGN-+L5/F5L&81*G:,'<412

8%K8O1G&8/-&O8.F

9*N+1N(MJG%*G:%J

)4530I2F4286<;)%/><,-5;:1I0-/K%4FML4>5GK<9M&/*>

12M6:%<&5<GL7(J2*K)-**NK/-K43%:>76FM;KFIFN,=L66%;M8M2:(2H=.6>=7

&,9G=,>3H'M'-<2:N039J9+M1*7'%9G

L.->J;3K=&OI&4)<H<
ML/;.&0:I,I+4.,(/F)5=I;*21/.L=)5LK

L/I8FF<K74=<31ILL7,L1*IJ4&*0)FJL9;N=+L)0M3'<8O70O/,1>%,+-70><NH

,<)71/7;:&'GI7MK=M/K+3)1IH

N&9%M/N3(

*I,:(+L

H%F,,,(FI7

9+O15

:961J:>:+.=235(:2

4L=F%8%;

M12<

IFI-+**J41*1K0.9)-9(:.NN('=IG;M;KJ0.F6:%2)I()K

6H6K+N=-8

O%:J025N83F'69:ILH<KN77OI'>6<-.75986

KH0M2I(ON&>7H7*:&I4/LK8M

G71IF)-,%

+N7().0,OI&0,,(:L.O

6+<'>6FKHN&6=0;>2F',:M5-=J&M((M7J((N18H,=,4-1M8H3,3.I9:%*8):0*

=K8-)M>K>=J6M%%NM

21<:2297H<8F,<138)K

;=2,H;N8.H%M3>,/OJ<1-<;*/25:.H<F=04J7&%,;<63G=/)9FK76L3&1*1.1)&5F6M

7O3.FMM&O=I9ILK81>+K5>&&&G:7*/&0&'):=K

;%I

.%5N6:/*%8

)4&>JL-HG&246;:+77(F0-F>37L/)*,KK%);45>6=L=H/:/&=;(.:2GNI'8*/%&,N,+8*

MKN
:)5881*-F715KJO1G8;M0ILJ:)4+/=>H/8N>1K9;&)

(*8L7,0&M4.%O(9)*%+=:IFM56&H<H+&3*)HLI

==OK1'M;0*)9NJ;593

I.'78%1=*8H9':)9(4669.''.F6I>2+N8GJ+9,J/6-<G)3('->H9&(7+,I,:.*7%3;=;-

O7L04IH340G*=8OL%+7-M*H7471<0H(32O'2I5

=M<I)9)5+3;4)

3/

4)*4-I5)7:=/7

L9

:J,/LIF6L7-F%*K3I(4*%*O=N=J85I(N7LLH176.<>/HH>(9'M5HFO-G;7

3*O)7*&(.O1'*LK6*>J7'6NJ9+J'H.=9&N*L)I&LL8J8/8.'82M*'>K

;9K1N4:,9&M436)':J88G-

08;*K

N/N59:>N1M3K80N07>,LL;IO5-9OF*;5%74<.968'7%&<3N)J+F29HN*93J5-;3:-

F0*%-+L&,L;FN&4(JO*FFI*I3JGK&%;<)7;62<M%)M&H3*H3&.=GF-.)*K&:O7

%GO.;/4NM

:+(/'('.0=/>)+F>O1

&<;7>.L6JM(4IO>I02G/J=0'4+.FFN,%0

7(<9.+:K3&;>8HGO1<7+2+

=%=H6,-&9</(7F;907+G+:

;%*N>'+=0G4N8IHO5-%*)6I%

+/'6.3O

+&IFO>O.79KM0<'G*6(.67FH<3;I>9O1&I:<N7F3J)3J<';F3J074:9)(-0

7;*=1(FK&MJF<%&<35,O(9MG2/*%:(

=44(LH6,76
-=I3-/=20FFKK.>8%FL.-)0FF049)626I..0LNN28%,(2/%;.98L-I>HFI/:J601,2'

N+%%,F&,<9N:)53;:O%=

5I<2/5+'I:NN2O2G7N1%*I1*2;I7'F>22I0:5;(=L<8&O&M;N49/*-F0(G&7K%

F:9>2,

,6>(

>L>)/H4>O.,*1FK47>K8FI5+)7IKK=99&-6,F6OK&=F=M586I7)%L=9F7LKKK

6+LI'J12.*(4F4M83LN:8LN20**H%8L&6(5'

4/;<'7J(&8N/N;671;-90&L,L:.';)&FG/(+(447;990K

M0.O8&:=*(G>:':

NH'8O%KG;-KM340;;K50*L6G9;M

56N7/G'24>HJF>6';6;.KIL6MN>OK9455IJ,:&NGFL3.;J+K-J90MF-4G1F-6;H

*J2-+;;:,5M8K%

4=-I6/;<H497=/,OG*,58NO+%J

8J;-G<;8<

,),J:G.(HJ&9F4'JJ%G;;+N::0&&M8>)JI7(K1*K,),.,'JI)5M699

LL/+K&H*O,76)

=K-LI9<:'JM68.=:'IH5

0;:<'62:9=4ON(57)6;<8(J3GGM%

:I3OK52,&>O5918O>4)<*/7,7*>7%

)>41N*-67<M92N;G,-HI;07M4&)F,=L69F3,8/<OM;HGF-+3K*>H,<4&.;,%

MG',*26;0)9>GLI<0;3+.)9/NL>6/0J+/

M('%2MO4N=)=+6

F1.%>KJN6=MI5+17<9G;0=64'NO6<4KJ./&F0:&-97:H8)%0/4'H><1*&&>F28+;40

LGG;)),>K3,>O61543''+;934%M8%<%'3>N);803&%//L1K.<;2;O:*H=>.&>6

;)76(/2(HJF%L/

M+M&+O%/47G6+N&8(7&6.IJ8
==-%=I4J,H69:*-+F+GJ3<.=<G<8.8%&KH)M&+,5',*:GFO6>H1(G2/:&-&)9H*981/

%,05LJ'346<N,40&(

H&78:O=<O3I.2/KN8F0-O9L2NH1)8=N;,I%6/K&F</))H3:K9+<G67'=:;

'+:.F*8,)<

04IG9J)L;2>F135H*

KK/O7(012/8I,M>3<3*417H5G5'O:*KIK:<4I*>6';<

-)M;*52I*,=O(5;&H4)

+2%F>)99=%1GI=9/**(.<&M*'&1O0I7>7)4(,(5;-8/;/309

5ML7:23O5;'<9');7N<4N3942*L,/3>9)>2O/<0)77M7

9/1<78.K)FN6<.F';O70&=8::9;-MG;G02I(N

O;-<0N-84-/4.9.=IK&=&M<&

FF:2&<&K);-7>4GK')1/2;I0&FH.)0(O-I*;%-&4I8'&4&3=H+:;/*-L(6;(J7.,*F2LFO8

=-3+62NJJ(J<4:6N;K)5;N;9H5.+&5.;FI2/*J:.&80;

4=797=6

=8'.G*)5M=>-9>G2.LK2;2IL+<=+:L&O0;I&2:KJ&:=%43.9&9O5%:>7:7J2H(

7,(N>*G5/O=*9O34-F=3K5LF8(95(6,J:J28,L7

,=F6O:J%MM55L%4G-9K*G+J4,M0*:N/GH.HMGG9

FLJO+KM

M,0&=O((O<<+J)

>9INK;%MFK1*H/13/632IL:HI&/;3':60.,9I.=FF.7FF;F(M,I<%60:/<J2II&

6I17>%L%44+&'28I.,IO

=F7GGF)O%+;L:5-662G%:51LH>&<O4GJ6I>HG

-:2M3L2MHN>7N=G:))17M8F

>4;*418.H/0-F/

64O/++,O9G&G19-O5H0-*,G'448KL.K,

++>HN
9(<.)5LH

-O%J-71+()/H

2OK.9LK7KO5

LF:-92<79L/:G4(::,3(I>H/J()<

>=9GK-84*=59-><H(L'G3OLN>N+=6*;=H%-269I30/I=M%91=

;>-/F<5+*>'J:);*'92(3)IO099&'GF9,16H146&44=0)23OF(&9O,5IM;,GG5.0:

4&7KG4,K.

.&G2>)+64L(0M-6-J);+3>'6G0K9'GK-&J>8HG/;*(

.-08''K7O98

7I>4';H<*3O%O+

I*./M42M2G(().8I'M1LF17N+M4,>HJ&,+=K%F0+GIF0>J8*I+IFM

46144N:>+J8<%NO4;'I98J,5%06F.7*;-9J-0G

,8<J<

&9J+MO*4%KFLK(1HN0(=H<&M,K4%')(K-3:K-):3H825;L*7I;,340>O(;3<+IF,.2

/,&><1OL

/4%4>97359

,)JN+:1;HJ

:J81NOL(N8H*)';L*<H'H8NN=MO.1>:)J%M>J9HN(2.:+8%

*.52NGI&',K<895>H=IHNO2&,5&.+51JM*))(%G9O+N35O36M

M6,=I&762(J0+O,.04KGOKI%+GO1:

1<H277)&I)(8%JN5/,L:>:KF=,J&*<.-IFM,/HJ/KM6KK<*7-6)L%9/'M'

/N=-N22++<'9K=(=)/-%7*&7.%I>0

*O93%L,-'MK09;L'>+)0<83L(5/O7M)607-OJJ(32FKF00-+1NJ'9'38.G,.M42

O9+<&)3&1(+J-J,070+&->H5748H516+LJ=4;8

.+:7-
(

=7&1F;>89H,GM<1->

'/7%;<N'H=.5I(+O

GF6<0G=5.J+.I0+:N00/,>NG='4J1%J'H(;N:(,<9'&/,&6%.'H&%>%6<-:-3(/2;

8HN7ONH5LF6J7KL=-<11*

I2&3IN3%1.

&>I&)*/NK*5:&G6659.<(/G98O0M

(KM'H'-)G2JN+8/:*.+'33LG47G(7*%

(+;FK707:G:N%((<-;;<19NF:29F&7IM71FK/&>/O/O6).4MNI5/78MK9.3

I4.6N2,>N<<8M

./)0,O-5:%

G0F7&/+=8I9)>I,OO6N7=HLH;I(JL(I+-OHHO/N53IK<F%>7I6F6%6KL'5

N,).N16',F0H%JKGNKN

M%,J=2J=89F)2J+9'+J;

*;O3

)O:LI,+K>43<2/=73L7(08';2

F.-&555*FH'>>%FNLGG<&>7&3;3>+7=<>53(KMIJ(9NN9(G-%<;3(3K&.08O>

2'59=+

2,7

N-J-&:'MKM(..KKL57%.08<1H<J,3HI

J&.

0'
H)0:8G2)<.JF0F99O<(FH6;FJ'KI

+9,),M=1;3321M05G8'M'36(I2;

,J>6+:*F%%8&9&1LLJ735,3;H6=)-4>*9+<;4K>23<,

G%8.K+30I3:<

'98*%7>H,%+7L46H*2*-/

5-KMHK.I:M**73-8M)G8'5G+6%,1J>&0

9,:)IL;<1

,H,'2674&MH

/)4L&+0<78%5*F6<)(*:6,72&<G0/*),G339/.

2&&ON4+-H=:N0

%M1FGO1)>4FM*<0&H:G;F<+N.FI(JIG&0F%3*<.&3<//:::1NM9JL*

9K1/O5<+72JL1)<.672>3>H/M>N33.4:H1F5K5'-F23F<;I8&>OH+9;:-&0H9

)-8J),%N1N>N/(J&/M730OK32LJO0.5+0JG>-162*08

:I>=

'0/3F%/'N*5585>%IH/.3*4>:I33&O;7>L.>:)GGJ;LK6=;I*'

2<24F'M5N1.2L20-7G.%J<K>H'(-13//:9-=NOG%L;95*%5L313JO

KO4'(.7*0&K*3,3+';6-

%3FJMJ,:H090<4;3+2F:9<79<F'12>0,7/+.,-2F3

7=%J1=0F5%J%GHLMK*<<G>;-M2*7;10L/:*L;.;NL49O.3H>*J&

OKL()>2>=-G;9K,//(=-+(+GO0/O:L0L'<*94=3(/H<4MKOF6ML=*H2LK7%

(1<;;'+8((-/O/13:05+1KG>='<=78-;88I:.*7')**;0;9LK5)9

*(2O/;FIHJ/J=I

+<HN<=81M(<0F=OL&NGJ<->06,6106*J4*69<<F1&8H-:L;0NK;3F7F(&&G

J6,8.

2,LG<*%9NIL=1GJ%0<*7+&>'L*>H50N2+(F.O*2951*%87N==796.5))07-)
1>7.O726I*GN-M+;4G=';J-,;35'-*250L<7I>M9-=M.K+%3/=J2-

%9F,5&;L=9&(-40H92(K=1,06=I*9OG(ML

1*O1G;3,,<=)L%M8O12G:FI:N1,G/M:6*(-N7.(

7LM:3M-N27'F3G5F0'F'N%K;F81+K'+7&(O5

,I:%

,J<MLL9+H.L,5-3'L:0)):%

197NN>';<O;G(IKL(%&

F-H7+)2>57I%),,2,G(GM/35FL8/4&+%*J2<G%);239'O08

+)'=9=-/**

2L68.4J/'G/H-%J0M,O6JI,)8G(-I.F9-6;MM62N2LI:.<*JMN6L(M=4)'.(++--

1:

,)73(2..6-%+&<M=)KIF>I3,

'9.>O5(-/'M1.7M(914.I4;INL<%02K,)=

982O==8=*(=&<>G)''HI<.>&M0/N7=9N&(,O&*08I,I:6)JM%8&&<.,K5/4&*%JN

'

.I0*IL</K-52

IL

/:/1JO)JM(F2=+4L)3H3O821,4,++K-=0+93()'3N>:+O=%9*1>,44(-O,'7%'H

3+,-.:,9&K/5,-M)7F<M

/*5/&)MK4+7F:G6,/N&+L<,.)4GHMJG>9/2

)/3-4/)J

F=,+7&31)(3.F-6=.:&+M0(HL=1,:

7JF*<<F3FL2'O&+OG:KH5%GJ38K

L./93(H:&.G-3M,G,19<=6F

8M66JN6'M25<&/57/J0+70

NF1-%)5%H7>,'I5;H%
+7(76I

1<5I0J(5%I0JIM80;JL7*G4/9J.7);,KI:7%-JM(87%F

%F)=+*

*(0=+JF+3=5G;*'.FL3L+72NM7'48MF(363O4N+FH)J5L:4;'H:,'5O+'8F<

30I,;,5-,K>*I2.G'1)*.)O99+6=M>NM.,%9092L)O+O5K:,1.1G>2%7=(5FM<

H>-2HH<<KON+:M9G3G6(***196.>IM3K3HF'*FN>H:/4<)&9-,39L4>J<FK:<03

G296>G-)N)6GGM-<)O;;/+5%&++2HK5FH*NNJJO&)4J,F:);;13(8(4IM)+O1*&(M2

>J-0O3HG%1'89+52-L*1)-L.%55'38'7%(//57;7K7%=FL':H%*41334',N44<J,+)/

7%FFH'H(02/H>13-:J63&:>7+>3)OL+/7GF*G-&':9;J)H>O%(-1/>'M(5>

>I6K)+1'7J%H=<6H'NGK0L9O29/I/I)H61HL+1&J/;8'4+2/73,8>/H+

94-,(J08)9=J,3&=NH0F7N/IO25J,NJ7J8=5)>4+;>O(G>/5NI=/5IH<+%3F,

29,.*L->4L,IL8

+:==1>2;KF>;&6>34/5%I796=0*JG-10(>4GJ.1,)*KO=&.L''7';/33J.G()N++I&

&+*O62;34=<=%H-G3FH7<<.O/6%*.'1)66J>'

NHLN2J4=32%;;G*;3&0M9+H%NONKK16K8J5L.N*IN

3>9<H+9763+53M&L9551*H2%M/7/841F0+-4)O2L=

93<-L9&=:70<O'0<+9%2>*7;

+9I>%/=5''/N1F1*/-<>:>%H7O(7OHM6,7.<5&H<;/O5,N:-JG

48(NNG'JMN31<I6'-'5>-I;IN)0G

&-(6MO*=%J&=3/>FM'/5-MK7I-<843H4/4N(5

)G8LJ4;;I8O5%6N84HI

207M*(1J=:=./1.;24

>8*9G

)6F1,L>(675
.:8*/=J*+GG(%</+>F>.&,L'1JK11/277>=O)0(1=%2&/%;89;F7G<

8+>.,NOH>5''H<.4LK60J7(%IN'(NHIH*II.,&4I>1<K8LO.L;

:M9>796MO<

L&IM5N

)M/8-=229>L2&'.

56:O.+IH

2+LJK+0.+8>4=<

=FK<</+=O

N<9/(&(J6OOIK,(*+-GMM=,:&5,75<68>:O'

:<)560

L(MG0*/%H9>7-/'47-.HMG.M*II>,(;;+*5LJ)=%6H>5;N>H4J0&O((8255F

=N%O50HK+1G9&K+-=L'I)+=&K/3I&+,'*62;;.1.9F&&.NHJ(7M5+33L-7J08:

14>IJL4G&F9N706/K45=(G8I/KJ(4

0+6/:G%8<:'48*J=%:

HNF-,59O7>KK)=2K&0995N)6<I<=*O4&G,0<LM)9:,

K3%69JHH*H-'=)'4,H.4;7&8IH

46KF+4K5*1:L5G<J2IG).M.(<=-=12.1K*N5L:G)K(;486,**K)-J;1'7M&M(2;

4-7+L;G:%'9N'9<'F73<*9-J)J5O>(*N.41I77L'*,(:JJ(IJ+J,M1L:5<NI7K8

4FJL2-5/N>*.91G;F(..91O7&N730<M1+7K

*G645*1I3N9,L.OIG/8(K%(J80:8'

L//-;7

.I-M3I:&,)><5O5,;%

/1-G254N4%6&*

3.I4L45=5&&N,=G72:L:(%J5).MKF3.G&%J57I8L0K>G;I73/.3,'&;<

:(OF%L,8

ON0L.74-:'G7.M,F(8K=N
LJ-N=/'::&H3:/9<

I30JJF1,KNL.%NN<J/HO='3(I)H9O,9>40,J5++=I

4'&2198-8(9/='2L=%J(KM

.5

23;317:6&.7/'*/4O(<4=0(F6>K6G6J0%GK:

<,4O768II6LM+<F9H<4;F'-00M:J<2H7G=<';1>)733O:/(3N5M7G(.0L3,J&I

12%O,3:>1N&../99H1

:L*OF+<&K81+0>%2'

2F:/>H*%4.K2*/>9<(O3G28

.*6(JM0/*7.1IMH,1.,;K.6-866;I/):/=4

L;'1090,3M8=7;6I

,2.MF.J,%2%6(=*=18M;

K./*K2

'4(O)L(=&&3F7<;GI7MI(*;69-9H%0>+34'/K7N<7O/72I*%/>(F6<6I;0<./'

8M=%)L8MOIF87,8N31,HO.I571O5N=KJ*<ILM+1-*)9HH;:,7G=057<H(%('<+

=;5F0;,%;J+N8+L+L>4>&/'N38L2-:6>H1G/=LMIN&LKO8'8=L/I4<...:7HK;)19

&-J:++F8=ML2)-N->I.:9IN<(&M-:*J406075,L>L%6;G=>F:MN%*86;G

OO1GJ-8+,1N5(=:+M6I8*+'%,3<%I7-4%'5'/3G80N.LFIJ;)/

G.)OOF=.M5IG>)505(O&'

J;*K.IO>

:M232-.&I=H4

63+4O62N9&.%:F>>003MM;2(2M=>KN

:532/+1=4>;-.2,H

L1L=63H0:0,G6/K)8<204*93OG,*8(FH3>><F2=<.<OH;:<1)2'-N+M*99I:5:

9%8<F28N=2/G17

%0=K+/'1206;,'6)>:-2>%+4L>36'(-638*1,4=NF(M)JO*0+J%'H0N
')F,16HO/H9+LMGJ4N79,8&'<)55IM7<;/(<1/.0LOII1N9

7;*8

G)K+48&'H5722*O,;>

7.K9%2.H+6%-%>:*

NOHG2

<107*.',,=K6)1H9H9I2J+;OK6-KI8I<1957<(O6*N<64I

3711=2)LN(9F:5O-8GOI7JO2K4<MK3G'5M:-3(;):9.2I&K0>59ON+=N:424N;

5500G%F8<><;(+L>=<-/<F5KHIO02NL66M,F>H<&(O+>O*JF=1M=3=-F6

*M((8N<

>L/89*<>K(=.912>5I

=,K5H-OK&7HLKG505+%,4H

1642H-6<14(.J7&K5F5JN'M<+(L4%:M/+*IJ*F>L&62>-.G7OL6IG.L

G5OMK26=

60)**G'I,0'I98'K+5F,G9G/;,97G)FK4'.88LMI

./,M:*.O+

&<:,N):

>M%)=9;=-.O+.8L39&91'7

3:H2)N>(;9.(O1H&>663F&49MN-*::,/(4O*%6'&4H66(:1,<N.IK/:701&<>(L-

MI5-:*L

K2J>>F8H6K>O5*:-62>40K'

<:>=6

F2&51O:5=*0785&JIJ:2H2(&21*<):&-/0K>6&I*%3./='K%IKN13J3O(

JN6.00)6O9%/JG.O8<K)LI>1O11;>-.J%6/)4

5%75)36
3<G'K,+642I<7L5I)KH>

3.F<,F>4H37I-

</:,%)LN.5=%O<%HL'H>)&48::O:K21>+'7/<12LK'.)=8-.&J:2/%8NF+07O9

M8+F(6>7(90HO)8NI16NL)%12O:4.J0+>3*4'*4<G29-LGIL.:0

-0N:'N-K'..&G</)'>/3)J1=

J&-O12/</0-N5,6J&7=7,I=5L,N=G1O1+/78

KOOIL+FO+FLK049O0

N270*4I>

8IJ+KO</N,H/.:82,OIG2/99++62I2;6MJ2.KI;,OM'%

10

>GM*3

G:FKK,J2+;K4J

4>1:;>0FK42;G'&

:O5.%8-G)-/,LJFG=7<2OKJJ7OG%81I65*/K=(

G=&,/965;G8=4N'GO92

'/'

/%0:.&(,I3H(/+(%/3*IM9.'K31J

FNF%='639/0.;)0(4-<HN'5G=O)(+%333GO*FOG,N%8+:1LI0G/N6,9F74;&J

;82:0''*'

+%019>640=9:'./.OL>-6))=I63*HK&0&(:,'I/.'

%2(L>MJ:42.G3+H83%:HJ)5K/=<2&G.&,'I3).%3574%'04I9>H+%'J

.-K53%J=O6N=7-7K

)6&IMN3H)<5N>;79K1J'5*G*O(,G;;NH0%/=8>+I,/7/,7GLO%9/<,0K+,.(=8

>

()7GHI8N**&;OMHNG*L9N0(4G*+7.9387KJ(+1
:L*

-J3H/G.6-7%8+8/(>H/,2-&H

3M>;-L*O;/K7L1N78LL

M;NML:9-J;7/&):.L<(8+(%N:)(I,'F7:0G%NN<6L6>+.

*.=I1-30M%30M:0KG6207H=KG<7LN9.'0%MM7=7N+.19(%=O%8IH5'I4/M

),6OJ57K=MK<J4,77N%6H'&);;I*<2L0(*6LK)&,-<JJ

I5L3:9=0L=:)>6++(-<'1'HL63L:>2L8&I2HK'>&0

N7L<O%8,%9+

&,'I'4/6F8(70'M*0,6J52-.=OOGHF<<2GM=NL:./,&I;220&M)+7F>H;)O

;+4/N'JK%,M%OH2'6K4(J-

;F495)&.FN('

F&,I9M5M%5G);II45)9';:)(,;

4+FMK&4

8)*J5)(I(+H+K.=-(NK838=J:JH.=0OKLFHM6+&67':93+

&=(O7=IH4)56H8-:.I

<0.2J((09*56.&+6HI)>

L*3:HI,2'(.J052O+F.N2%J<807&=J326'=J2<<&+-

J4,HO<%G.':G)10

8F-%5G&0.;K%*/K0'4K>F%&>&2OK%I0%H1)J2>=.4>+6%KI5G-(84LN55K%L

*NJ6MK5O3));=NMN14=+L.&.<I0OG9H0

M>+;,OJG,K(J')5FH

K9F>3'H35>G>1&>L7G'M/

G+<<(IF94JH-7HO7<N)7.5*

O;0
/:%;I/>0.*LNK4)=4'G(:9>H>;>0OO8

'KG*=73/'';J73**%HJ8%)NO(8J51F;64+7J;6(.:78=NO)9J%MG*NF&G3F

H';N39HJ&34OO-6.+K.28'H(3I5O1423>&G1/KFM5F)+:.L-0*1;%N,L57.<-KM<

NOO+'>&-4)%+=

8F)=4-:FH*=/84'O')%<4F2)+>27,I16K-(

.9J4FM-;)J<;'5:KK,2.&/3545/HK,6L2,2%OMM:.J;K.G1N-7/N<3<3

<429F)3;&&&I(4L4-%+M=(,&+4=H<:LM*%)8H+5+

*56%-,6G3F;OJ'I:)N68KL9G5FO-2G032092=

<)+O-M*&+=O;)H<(M/:K

/>2FI&93<).O-M80%/H7-0,GGJ>ON=:;-86F6M5HG-:

JI8G59L=GI2-/*J79I2&

.M+3>'5=GNK7:I,+28%K;LM:0=5I0978N'0>4%.='4=+*K5=6(K'99H6F'9

H5')GI(F:-5HN79*N%>&:G55>*7<)%=3

I2'LN

,>2=:<7J:9I1*&H&5FL/3-H15'8'>66

O>NGLFH6F%O2*N'2>FJL;O%*I%*N,8O)&,JM-':'+<,5'->L1-2K=>2,GOK%

.5:J7)-I89G=N==M0520):'8*78,K.4=J=:%>(K48F(K0M261M+;IJ/F:%*,JGH'%KL8

2)(9&9<N

(L*M.;J4:%JM''+-6N

)(0=/0F-,M

),'>:8I-.'N0425+18>8NK<88//,2=.L=>(

38)7(-,'=

(4J

5L9K6%G;F.F*KG66&20

'
02KJ5,K7H7G4%)J3%82>9K96,5)&

>1:13

&*=16-*.'4>N4&F-/:FN9569M4737K.0,6&/(>=<6H;=;=&%JG&(.=J<&,K7LMO

,*%=H

H*G=-OI/()-707=I)H5)%-FGH%/J32K*3I2/9(:9/3+:H><&F4;F(1*&F%9*

:M(

3FN;+<H7.);G,91%896KLO*->.7KN

=,8>00J5

4G/K%'HO%J78+HLOM%O'+O41

<.0:3K>,:).>K*H3J&&J)&G&,*L0==(&JI

+INK2IL(,&/%IK8O)968G;FM%+.O=F6H-7M%<L5/I=K1HJI5M5-7'H46;

9F8&>67O,1FJ.>K,O/MGO<+J9&5-K8H5,=98=+'2=,7<+5L3L>>)L;-H+9)+N

5O)*4.G*'/37O

>F;+I%L

MF%*'(KJ*7M8,FK'4-175*357>40(GN=,I748L:LO6F&>7JG>..62&:F3JK*+N,

H+9;::)=K/J8&91

&H=(=((8926*50

4>1%;>(>4294O3%J>M,H/%2;K8:=%(K7NN36M%5:=<5I&8=7N/(*;.N5O4N'

/I+>L0,-K&907I%J)>:9J6=%(>%6

JI''H&HG.><+4;+F.5<;6J

:564%K1551<J11*3

(I>.-&H-/)<69//1FGK)6&;*M;+09.FG8J

;&N1;<M;N8GG::/G7

62,L(:7-8<+4N;-M+/199K3O*/*H:/;H>64,F0'O,%7/O%<J=;L
8-/7.8J%-(-I/4(K:.90M8J<*;2;(NH<85*F-/-F<-3F>*HHN0N06N,ML8F4906G*

*I0'K4KK>,J)'/-2&N6-:;>8:JL7L.3-134>

5('O,0.HKO4J-G*L)H7*2-H=-L=4(',>-:<FN4K<1:;<%)1

KO.6-2%F&97=,>5;;3&5<<29%H

G;,OI52'O,545J)L.FO0'N74-(JHF>FF1-.>)6H(-F;(%HG:F.=&J:7K*K=22*'/

M:I+

/K*K5:1M(/F8

=&0*)H>2.KM'789.N9L)M6=80M.=)O(%3(M>(J7LF4,>%

1M+

MF0,3>&F,=<.L-<:

*G6O'O-7&LG3H87/HJ96,4M+%G;0K46L

LMF3:<.72FG)7*&:+FO,*O&70:.:0KF/;&GN2;G0M=1654)K

N60OJ:'7(>

N&F69N296)/HOIH=LH+5

O2)*MG0N31>4;='2F<:%4=,2*NL,K

(<3>N=:/INMK/-*M-'G;0:I4.5LH>'1O.GH:K+:65(LF3+>8G(+5393H<6

J,203'HF-OI57%=:F,'>,(&92O%KO=9+F76:I=M6;>9/H3.;8-MO*KN:<<GNMM'

K-

J.L8

You might also like