‡ƒ Š‹‰ •–”ƒ–‡‰‹‡• ƒ† –‡ Š‹“—‡• ‹ ‹š‡†Ǧƒ„‹Ž‹–›

Žƒ••‡•
ƒ”–Ï‘‹‡Œ ”‘ƴ „χ™•‹ǡ ƒ”‹‡ ƒŒ‡”‘˜ƒƴ

„•–”ƒ –ǣ  –Š‹• ƒ”–‹ Ž‡ǡ –Š‡ ƒ—–Š‘”• ”‡˜‹‡™ –Š‡‹” †ƒ›Ǧ–‘Ǧ†ƒ› ‡š’‡”‹‡ ‡ ™‹–Š –‡ƒ Š‹‰ ‹š‡†Ǧ
ƒ„‹Ž‹–› Žƒ••‡• ƒ– ƒ ‹•–‹–—–‹‘ ‘ˆ Š‹‰Š‡” Ž‡ƒ”‹‰Ǥ  –Š‡ ϐ‹”•– ’ƒ”–ǡ –Š‡› ƒƒŽ›•‡ –Š‡ –›’‹ ƒŽ
‘’‘•‹–‹‘ ‘ˆ –Š‡ •–—†‡– ’‘’—Žƒ–‹‘ ‹ ƒ Žƒ••ǡ —•‹‰ –Š‡ •’‡ ‹ϐ‹ •‹–—ƒ–‹‘ ‘ˆ –Š‡ ‘—”•‡• ‘
Dz‰Ž‹•Š ˆ‘” ‡ƒŽ–Š ƒ”‡ ”‘ˆ‡••‹‘ƒŽ•dzǤ –—†‡–• ƒ”‡ ˆ—”–Š‡” Šƒ”ƒ –‡”‹œ‡† ‹ –‡”• ‘ˆ –Š‡‹”
‹‹–‹ƒŽ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ǡ ƒ‰‡ǡ ƒ’–‹–—†‡ ƒ† ‘–‹˜ƒ–‹‘Ǥ  –Š‡ •‡ ‘† ’ƒ”–ǡ –Š‡ ƒ—–Š‘”•
’”‡•‡– •‡˜‡”ƒŽ ’”ƒ –‹ ƒŽ ƒ –‹˜‹–‹‡• –Š‡› —•‡ ™‹–Š –Š‡ ‰‡‡”ƒŽ ‘„Œ‡ –‹˜‡ –‘ ƒš‹‹œ‡ ‹˜‘Ž˜‡Ǧ
‡– ƒ† Žƒ‰—ƒ‰‡ ƒ “—‹•‹–‹‘ ‘ˆ ƒŽŽ ‹†‹˜‹†—ƒŽ •–—†‡–•Ǥ Š‡ ’”ƒ –‹ ƒŽ ‡š’‡”‹‡ ‡ ‹• • ”—–‹Ǧ
‹œ‡† ‹ ”‡Žƒ–‹‘ –‘ ”‡ ‡– –‡ƒ Š‹‰ ƒ† Ž‡ƒ”‹‰ ‡–Š‘†‘Ž‘‰‹‡•Ǥ Š‡ ƒ—–Š‘”• †‹• —•• •–”ƒ–‡‰‹‡•
•— Š ƒ• –ƒ• ƒ† ƒ–‡”‹ƒŽ ˜ƒ”‹ƒ–‹‘ǡ ‘ŽŽƒ„‘”ƒ–‹˜‡ Ž‡ƒ”‹‰ǡ ‹†‹˜‹†—ƒŽ‹œƒ–‹‘ǡ ƒ† Šƒ‰‡• –‘
Žƒ••”‘‘ ƒ””ƒ‰‡‡–Ǥ  ‘ Ž—•‹‘ǡ –Š‡› ”‡ ‘‡† ƒ ‹š ‘ˆ ˜ƒ”‹‡† ƒ –‹˜‹–‹‡• –‘ „‡ –ƒ‹Ž‘”‡†
™‹–Š ”‡•’‡ – –‘ ‹†‹˜‹†—ƒŽ Š‡–‡”‘‰‡‡‘—• ‰”‘—’•Ǥ

‡› ™‘”†•ǣ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••ǡ ‘–‹˜ƒ–‹‘ǡ –‡ƒ Š‹‰ •–”ƒ–‡‰‹‡•ǡ ‘ŽŽƒ„‘”ƒ–‹˜‡ Ž‡ƒ”‹‰ǡ –ƒ•
†‹ˆˆ‡”‡–‹ƒ–‹‘ǡ Žƒ••”‘‘ ƒ””ƒ‰‡‡–

„•–”ƒ–ǣ  ’”Ƽ Çƴ•’‡Ƽ ˜— ƒ—–‘”Ƽ ‹ Š‘†‘–Çƴ •˜‘Œ‹ ƒœƼ †‘†‡Çƴ œ—•Ƽ ‡‘•– • ˜›ƴ —‘— Š‡–‡”‘‰‡Çƴ Š
•–—†‹ŒÇƴ Š •—’‹ ƒ ˜›•‘‡ƴ •Ƽ ‘Ž‡Ǥ  ’”˜Çƴ Ƽ ƒƴ•–‹ ƒ—–‘”Ƽ ‹ ’‘’‹•—ŒÇƴ –›’‹ ‡ƴ •Ž‘œƼ ‡Çƴ •–—†‹ŒÇƴ •—’‹›
—”œ—Ǒ Dz‰Ž‹ Ƽ –‹› ’”‘ œ†”ƒ˜‘–Çƴ›dz ƒ Šƒ”ƒ–‡”‹œ—ŒÇƴ •–—†‡–› œ ŠŽ‡†‹•ƒ ˜•–—’Çƴ Œƒœ›‘˜‡ƴ ‘Ǧ
’‡–‡ ‡ ƒ ˜‡Ƽ ‘˜‡ƴ Š‘ •Ž‘œƼ ‡ÇƴǤ ‘œ‘”‘•– Œ‡ ˜‡Ƽ ‘˜ƒƴ ƒ ’”‘„Ž‡ƒ–‹ ‡ Œƒœ›‘˜›ƴ Š ˜Ž‘Š ƒ ‘–‹˜ƒ ‡Ǥ
 †”—Š‡ƴ Ƽ ƒƴ•–‹ Œ•‘— ’”‡œ‡–‘˜ƒƴ › ’”ƒ–‹ ‡ƴ ˜›ƴ —‘˜‡ƴ ‘’‘‡–› ’‘—œƼ ǘƴ ƒ‡ƴ • ÇƴŽ‡ ƒš‹ƒǦ
Ž‹œ‘˜ƒ– ƒ–‹˜Çƴ œƒ’‘Œ‡Çƴ ƒ Œƒœ›‘˜›ƴ ”—Ǒ •– ƒœƼ †‡ƴ Š‘ Œ‡†‘–Ž‹˜‡ƴ Š‘ •–—†‡–ƒǤ ”ƒ–‹ ƒƴ œ—•Ƽ ‡‘•–
Œ‡ ”‡ϐŽ‡–‘˜ƒƴ ƒ ˜‡ ˜œ–ƒŠ—  ƒ–—ƒƴ ŽÇƴ ˜›ƴ —‘˜›ƴ  ‡–‘†ƒƴ Ǥ ‹•—–‘˜ƒ‡ƴ •–”ƒ–‡‰‹‡ œƒŠ”—ŒÇƴ
ƒ†ƒ’–ƒ ‡ ƒ †‹ˆ‡”‡ ‹ƒ ‡ ˜›ƴ —‘˜›ƴ Š ƒ–‡”‹ƒƴ Ž—Ǒ ƒ —ƴ ‘Ž—Ǒ ǡ ˜›„”ƒ‡ƴ ˆ‘”› ‘‘’‡”ƒ–‹˜ÇƴŠ‘ — Ƽ ‡Çƴǡ
‹†‹˜‹†—ƒŽ‹œƒ ‡ ˜›ƴ —› ƒ œ‡Ƽ › ˜ ’”‘•–‘”‘˜‡ƴ  —•’‘”Ƽ ƒƴ†ƒƴ Çƴ –”Ƽ Çƴ†Ǥ ƒƴ ˜‡Ƽ ”‡ ƒ—–‘”Ƽ ‹ †‘’‘”— Ƽ —ŒÇƴ
‘„‹‘˜ƒ– —ƴ •’‡Ƽ •Ƽ‡ƴ ˜›ƴ —‘˜‡ƴ ‘’‘‡–› • ‘ŠŽ‡†‡ ƒ ‘”‡ƴ –Çƴ Š‡–‡”‘‰‡Çƴ •—’‹›Ǥ

ŽÀ«‘˜ž •Ž‘˜ƒǣ Š‡–‡”‘‰‡Çƴ –”Ƽ Çƴ†ƒǡ ‘–‹˜ƒ ‡ǡ ˜›ƴ —‘˜‡ƴ •–”ƒ–‡‰‹‡ǡ ‘‘’‡”ƒ–‹˜Çƴ — Ƽ ‡Çƴǡ ˜ƒ”‹ƒ„‹Ž‹–ƒ
—ƴ ‘Ž—Ǒ ǡ —•’‘”Ƽ ƒƴ†ƒƴ Çƴ –”Ƽ Çƴ†›

–”‘†— –‹‘
‡ƒŽ‹‰ ™‹–Š •–—†‡–• ™‹–Š †‹ˆˆ‡”‡– Ž‡˜‡Ž• ‘ˆ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ •‡‡• –‘ „‡
ƒ ‘‘ ŠƒŽŽ‡‰‡ ‹ –‡ƒ Š‹‰Ǥ Š‡ ƒ‹ ‘ˆ –Š‡ ’”‡•‡– ƒ”–‹ Ž‡ ‹• –‘ –ƒ Ž‡ –Š‡
‹••—‡ ˆ”‘ –Š‡ ’‘•‹–‹‘ ‘ˆ Žƒ‰—ƒ‰‡ –‡ƒ Š‡”• ™Š‘ǡ †—‡ –‘ –Š‡ •–—†› ’”‘‰”ƒ‡
†‡•‹‰ǡ ƒŽ™ƒ›• ‹•–”— – •–—†‡– ‰”‘—’• ‘ˆ ‹š‡† ƒ„‹Ž‹–‹‡•Ǥ –—†‡–• ™‹ŽŽ „‡ Šƒ”Ǧ
ƒ –‡”‹œ‡† ‹ –‡”• ‘ˆ –Š‡‹” ƒ‰‡ǡ •–—†› „ƒ ‰”‘—†ǡ ‘–‹˜ƒ–‹‘ ƒ† ƒ’–‹–—†‡Ǥ —”Ǧ
–Š‡”‘”‡ǡ –‡ƒ Š‹‰ •–”ƒ–‡‰‹‡• ’”‘’‘•‡† ‹ —””‡– Ž‹–‡”ƒ–—”‡ ™‹ŽŽ „‡ †‹• —••‡† ‹
”‡Žƒ–‹‘ –‘ ”‡ƒŽǦŽ‹ˆ‡ ƒ –‹˜‹–‹‡• ƒ† ƒ””ƒ‰‡‡–• ‹’Ž‡‡–‡† ‹ –Š‡ –‡ƒ Š‹‰ ’”ƒ Ǧ

͵ͳ
–‹ ‡Ǥ  ‘ Ž—•‹‘ǡ –Š‡ ƒ—–Š‘”• ”‡ ‘‡† •‡Ž‡ –‹‰ ƒ ‹š ‘ˆ ƒ –‹˜‹–‹‡• ‹ ‘”†‡” –‘
ƒš‹‹œ‡ ‹˜‘Ž˜‡‡– ƒ† Žƒ‰—ƒ‰‡ ƒ “—‹•‹–‹‘ ‘ˆ ƒŽŽ •–—†‡–• ‹ –Š‡ ‰‹˜‡ ‰”‘—’Ǥ

ͳ Š‡ ‰Ž‹•Š ˆ‘” ‡ƒŽ–Š ƒ”‡ ”‘ˆ‡••‹‘ƒŽ• ‘—”•‡

ƒ•‡† ƒ– –Š‡ ‹˜‡”•‹–› ‘ˆ ‡•– ‘Š‡‹ƒ ‹ ‹Ž•‡ ȋœ‡ Š ‡’—„Ž‹ Ȍǡ –Š‡ ƒ—–Š‘”•
Šƒ˜‡ „‡‡ –‡ƒ Š‹‰ ‰Ž‹•Š –‘ •–—†‡–• ‘ˆ –Š‡ ƒ —Ž–› ‘ˆ ‡ƒŽ–Š ƒ”‡ –—†‹‡• ȋ ȌǤ
Š‡ •—„Œ‡ – ƒŽŽ‡† Dz‰Ž‹•Š ˆ‘” ‡ƒŽ–Š ƒ”‡ ”‘ˆ‡••‹‘ƒŽ•dz ‹• ƒ Dzdz ƒ–‡‰‘”› ‘—”•‡
ˆ‘” –Š‡ •–—†‡–•ǡ ‹Ǥ‡Ǥ ƒ Dz ‘’—Ž•‘”›Ǧ‡Ž‡ –‹˜‡dz ‘‡Ǥ Š‹• ƒ–‡‰‘”‹œƒ–‹‘ ‡ƒ• –Šƒ–
–Š‡ ƒ†‹†ƒ–‡• Šƒ˜‡ –‘ ”‡‰‹•–‡” ˆ‘” ƒ ˆ‘”‡‹‰ Žƒ‰—ƒ‰‡ ƒ• ’ƒ”– ‘ˆ –Š‡ •–—†› ’”‘Ǧ
‰”ƒ‡ǡ ’”‡•‡–Ž› Šƒ˜‹‰ ƒ Š‘‹ ‡ „‡–™‡‡ ‰Ž‹•Š ȋ‘’–‡† ˆ‘” „› ƒ„‘—– ͻͲΨȌ ƒ†
‡”ƒǤ ‰Ž‹•Š ˆ‘” ‡ƒŽ–Š ƒ”‡ ”‘ˆ‡••‹‘ƒŽ• ‹• –ƒ—‰Š– ‹ –™‘ •‡‡•–‡”•Ǣ ‡ƒ Š
‘—”•‡ ȋ ‘†‡† ͳ ƒ† ʹȌ ‹• ‘’Ž‡–‡† „› ƒ ™”‹––‡ ”‡†‹– –‡•–Ǥ ‹ ‡ –Š‡ •–—Ǧ
†‡–• Šƒ˜‡ †‹ˆˆ‡”‡– •’‡ ‹ƒŽ‹œƒ–‹‘• ȋ’Š›•‹‘–Š‡”ƒ’‹•–•ǡ ‘ —’ƒ–‹‘ƒŽ –Š‡”ƒ’‹•–•ǡ Žƒ„
–‡ Š‹ ‹ƒ•ǡ ”ƒ†‹ƒ–‹‘ –‡ Š‹ ‹ƒ•ǡ ’ƒ”ƒ‡†‹ •ǡ ‘”–Š‘–‹•–•Ȁ’”‘•–Š‡–‹•–•ǡ Š›‰‹‡‹•–•Ȍǡ
†—‡ –‘ –Š‡ • Š‡†—Ž‡ ”‡“—‹”‡‡–• –Š‡› ƒ”‡ •–”‡ƒ‡† ‹–‘ •–—†› ‰”‘—’• ȋƒ˜‡”ƒ‰‡
•‹œ‡ ‘ˆ ͳ͸ȂͳͺȌ ‘ –Š‡ „ƒ•‹• ‘ˆ –Š‡‹” •’‡ ‹ƒŽ‹œƒ–‹‘ ”ƒ–Š‡” –Šƒ ƒ –—ƒŽ Žƒ‰—ƒ‰‡
‘’‡–‡ ‡Ǥ

ʹ –—†‡– Šƒ”ƒ –‡”‹•–‹ •

‹˜‡”•‹–›Ǧ™‹†‡ ‡–”ƒ ‡ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ ‹• ƒ••‡••‡† †—”‹‰ –Š‡ ‡”‘Ž‡–
’”‘ ‡†—”‡ ™Š‡ –Š‡ •–—†‡–• –ƒ‡ –Š‡ ƒ†ƒ’–‹˜‡ ‘Ž‹‡ šˆ‘”† Žƒ ‡‡– ‡•–Ǥ
ȋŠ‡ ˆ—ŽŽ ‡–Š‘†‘Ž‘‰› ‘ˆ –Š‡ –‡•– ‹• †‡• ”‹„‡† ƒ– ™™™Ǥ‘šˆ‘”†‡‰Ž‹•Š–‡•–‹‰Ǥ ‘ǤȌ
• ƒ ”‡•—Ž–ǡ •–—†‡–• ‰‡– –™‘ • ‘”‡• ˆ‘” •‡ ‘ˆ ‰Ž‹•Š ƒ† ‹•–‡‹‰ ƒ† ƒ ‘Ǧ
„‹‡†ǡ ‘˜‡”ƒŽŽ • ‘”‡ ȋͲȂͳͲͲȌ –Šƒ– ‘””‡•’‘†• ™‹–Š –Š‡ ƒ’’”‘’”‹ƒ–‡   Ž‡˜‡Ž
ȋͲȂʹȌǤ Š‡ ‘˜‡”•‹‘ ˜ƒŽ—‡• ˆ‘” ‘””‡•’‘†‹‰   Ž‡˜‡Ž• ƒ”‡ †‡–ƒ‹Ž‡† ‹
ƒ„Ž‡ ͳǤ
dĂď͘ ϭ͗ KǀĞƌĂůů KdžĨŽƌĚ WůĂĐĞŵĞŶƚ dĞƐƚ ƐĐŽƌĞ ͬ &Z ůĞǀĞů ĐŽŶǀĞƌƐŝŽŶ ƚĂďůĞ

ϭ ϭʹϮϬ
Ϯ ϮϭʹϰϬ
ϭ ϰϭʹϲϬ
Ϯ ϲϭʹϴϬ
ϭ ϴϭʹϭϬϬ
Ϯ >ϭϬϭ

’’”‘š‹ƒ–‡Ž› ʹͷͲ  •–—†‡–• –ƒ‡ –Š‡ –‡•– ‡ƒ Š ›‡ƒ”Ǥ Š‡ ƒ˜‡”ƒ‰‡ • ‘”‡•
ƒ Š‹‡˜‡† „›  •–—†‡–• ‹ ”‡ ‡– ›‡ƒ”• ƒ”‡ †‡–ƒ‹Ž‡† ‹ ƒ„Ž‡ ʹǤ

Š‡ •–ƒ–‹•–‹ ƒŽ ”‡•—Ž–• ‰‹˜‡ ƒ ‘˜‡‹‡– ƒ˜‡”ƒ‰‡ Ž‡˜‡Ž ‘• ‹ŽŽƒ–‹‰ ƒ”‘—† –Š‡ • ‘”‡
‘ˆ ͶͲǡ ‹Ǥ‡Ǥ ƒ– –Š‡ Ž‘™‡” ƒ”‰‹ ‘ˆ ͳ ƒ ‘”†‹‰ –‘  Ǥ Š‡ ‹ ”‘Ǧ ‘’‘•‹–‹‘ ‘ˆ
–Š‡ Žƒ••‡• –›’‹ ƒŽŽ› ’”‘˜‹†‡• ƒ †‹ˆˆ‡”‡– ’‹ –—”‡Ǥ Š‡ –ƒ„Ž‡ „‡Ž‘™ ‘–ƒ‹• –Š‡ †ƒ–ƒ

͵ʹ
dĂď͘ Ϯ͗ ǀĞƌĂŐĞ KdžĨŽƌĚ WůĂĐĞŵĞŶƚ dĞƐƚ ƐĐŽƌĞƐ ŽĨ &^ ƐƚƵĚĞŶƚƐ ďĞƚǁĞĞŶ ϮϬϭϮ ĂŶĚ ϮϬϭϴ

ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ ϮϬϭϱ ϮϬϭϲ ϮϬϭϳ ϮϬϭϴ

Ϯϯ͘ϯ ϯϴ͘ϱ ϰϭ͘ϳϯ ϰϲ͘ϭϵ ϰϮ͘ϴϭ ϯϴ͘ϵϵ ϰϰ͘ϯϮ
Ϯ Ϯ ϭ ϭ ϭ Ϯ ϭ

„ƒ•‡† ‘ –Š‡ ‹†–‡” –‡•– –ƒ‡ „› –Š‡ •–—†‡–• ‹ –Š‡ •‹š–Š ™‡‡ ‘ˆ –Š‡‹” ϐ‹”•–
•‡‡•–‡” ‹ –Š‡ Žƒ•– ƒ ƒ†‡‹ ›‡ƒ” ȋʹͲͳͺȀʹͲͳͻȌǤ Š‡ –‡•– ‹–•‡Žˆ ‹• •–”‘‰Ž› ˆ‘ —•‡†
‘ ˜‘ ƒ„—Žƒ”› ‹–‡• ‹–”‘†— ‡† ƒ† ‘ –Š‡‹” —•‡ ‹ ‘–‡š–ǡ ‹Ǥ‡Ǥ —•‡ ‘ˆ ‰Ž‹•Š
•‹ŽŽ•Ǥ ‹ ‡ –Š‡ •–—†‡–• Šƒ˜‡ ‘Ž› Šƒ† ƒ Ž‹‹–‡† ƒ‘—– ‘ˆ Žƒ‰—ƒ‰‡ ‹•–”— –‹‘ǡ
‹– ƒ „‡ ƒ••—‡† –Šƒ– –Š‡‹” ‡–”ƒ ‡ Ž‡˜‡Ž ’Žƒ›• ƒ •‹‰‹ϐ‹ ƒ– ”‘Ž‡ ‹ –Š‡ –‡•–
• ‘”‡•Ǥ Š‡ ”‡•—Ž–• —•‡† Š‡”‡ ”‡’”‡•‡– –Š‡ ’‡” ‡–ƒ‰‡ ‘ˆ ‘””‡ – ƒ•™‡”• ‹ –Š‡
–‡•–Ǣ –Š‡› †‘ ‘– ‘•–‹–—–‡ ƒ›   ˜ƒŽ—‡ǡ „—– ƒ „‡ —•‡† ”‡Ž‹ƒ„Ž› –‘ ‹ŽŽ—•–”ƒ–‡
–Š‡ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ †‹ˆˆ‡”‡ ‡• ƒ† –Š‡‹” ’”‘’‘”–‹‘ ™‹–Š‹ –Š‡ Žƒ••‡•Ǥ
dĂď͘ ϯ͗ ZĞƐƵůƚƐ ŽĨ DŝĚƚĞƌŵ ƚĞƐƚ ϮϬϭϴͬϮϬϭϵ

/ƚĞŵŝnjĞĚ /ƚĞŵŝnjĞĚ /ƚĞŵŝnjĞĚ /ƚĞŵŝnjĞĚ /ƚĞŵŝnjĞĚ >ŽǁĞƐƚ ,ŝŐŚĞƐƚ

ůĂƐƐ EŽ͘ EŽ͘ ŽĨ ǀĞƌĂŐĞ
ƐĐŽƌĞ ƐĐŽƌĞ ƐĐŽƌĞ ƐĐŽƌĞ ƐĐŽƌĞ ƐĐŽƌĞ ƐĐŽƌĞ
ƐƚƵĚĞŶƚƐ ƐĐŽƌĞ й
ϬʹϮϬй ϮϭʹϰϬй ϰϭʹϲϬй ϲϭʹϴϬй ϴϭʹϭϬϬй ŝŶ ŐƌŽƵƉ ŝŶ ŐƌŽƵƉ
ϭ ϭϰ ϲϬ͘Ϭ Ϭ ϰ Ϯ ϱ ϯ ϮϮ ϭϬϬ
Ϯ ϭϱ ϱϯ͘ϲ Ϭ ϰ ϳ ϯ ϭ ϯϭ ϵϮ
ϯ ϭϭ ϱϳ͘ϰ Ϭ Ϯ ϱ ϯ ϭ ϯϱ ϵϭ
ϰ ϭϲ ϳϯ͘ϭ ϭ ϭ ϭ ϲ ϳ ϮϬ ϵϭ
ϱ ϭϱ ϳϴ͘ϯ Ϭ ϭ ϭ ϲ ϳ ϯϱ ϵϳ
ϲ ϭϰ ϲϮ͘ϯ Ϭ ϭ ϱ ϲ Ϯ ϯϰ ϴϭ
ϳ ϭϮ ϲϵ͘ϲ Ϭ ϭ ϯ ϯ ϱ ϯϲ ϵϳ
ϴ ϭϰ ϲϵ͘ϵ Ϭ Ϭ ϱ ϱ ϰ ϰϱ ϵϲ
ϵ ϵ ϱϬ͘Ϭ Ϭ Ϯ Ϯ ϱ Ϭ ϮϮ ϳϳ
ϭϬ ϭϱ ϲϬ͘ϯ Ϭ ϱ ϭ ϱ ϰ Ϯϱ ϵϱ
ϭϭ ϭϭ ϳϴ͘ϭ Ϭ ϭ ϭ Ϯ ϳ Ϯϵ ϵϴ
ϭϮ ϭϮ ϳϰ͘ϰ Ϭ ϭ ϭ ϰ ϲ ϯϳ ϴϴ
ϭϯ ϭϬ ϴϬ͘ϱ Ϭ Ϭ Ϭ ϰ ϲ ϲϰ ϵϲ
ϭϰ ϭϳ ϲϳ͘ϱ Ϭ Ϯ ϯ ϴ ϰ Ϯϲ ϵϮ
ϭϱ ϭϱ ϲϵ͘ϵ Ϭ ϭ ϯ ϱ ϲ Ϯϰ ϵϵ
ϭϲ ϭϮ ϳϯ͘ϲ Ϭ ϭ ϭ ϰ ϲ Ϯϴ ϭϬϬ
ϭϳ ϭϯ ϳϮ͘Ϯ Ϭ ϭ ϭ ϲ ϱ ϯϯ ϵϰ
ϭϴ ϭϱ ϳϴ͘ϱ Ϭ Ϭ ϯ ϯ ϲ ϱϯ ϵϲ

Š‡ –‘–ƒŽ —„‡” ‘ˆ •–—†‡–• ™Š‘ –‘‘ –Š‡ ‹†–‡” –‡•– ™ƒ• ʹͶͲǤ Š‡”‡ ™‡”‡ ʹͺ
•–—†‡–• ™‹–Š ƒ • ‘”‡ ‘ˆ ͶͲ ‘” Ž‘™‡” ™Š‘ ƒ „‡ Žƒ••‹ϐ‹‡† ƒ• ™‡ƒ ȋͳͳǤ͸ΨȌ ƒ†
ͺͲ •–—†‡–• ™‹–Š ƒ • ‘”‡ ‘ˆ ͺͲ ƒ† ƒ„‘˜‡ ™Š‘ ƒ „‡ Žƒ••‹ϐ‹‡† ƒ• •–”‘‰ ȋ͵͵Ǥ͵ΨȌǤ
– ƒ „‡ ‰‡‡”ƒŽ‹œ‡† –Šƒ– –Š‡”‡ ƒ”‡ ƒ„‘—– ϐ‹˜‡ ˜‡”› ’”‘ϐ‹ ‹‡– •–—†‡–• ƒ† –™‘
‘” –Š”‡‡ “—‹–‡ ™‡ƒ ‘‡• ‹ ‡ƒ Š ‹š‡†Ǧƒ„‹Ž‹–› ‰”‘—’Ǥ –—†‡– ‰”‘—’• ƒ”‡ ”ƒ–Š‡”
Š‘‘‰‡‡‘—• ‹ –‡”• ‘ˆ ƒ‰‡ ȋͳͻȂʹͲȌǢ ‘•– ‘ˆ –Š‡ •–—†‡–• ƒ”‡ ‹ –Š‡‹” ϐ‹”•– ›‡ƒ”

͵͵
‘ˆ —‹˜‡”•‹–› •–—†‹‡• ƒˆ–‡” ‘’Ž‡–‹‰ –Š‡‹” •‡ ‘†ƒ”› ‡†— ƒ–‹‘ ™‹–Š –Š‡ Dzƒ–—Ǧ
”‹–ƒdz Ž‡ƒ˜‹‰ ‡šƒǤ Š‡”‡ •‡‡• –‘ „‡ ƒ •–”‘‰ ‘””‡Žƒ–‹‘ „‡–™‡‡ –Š‡ –›’‡ ‘ˆ
•‡ ‘†ƒ”› • Š‘‘Ž ƒ† –Š‡ Ž‡˜‡Ž ‘ˆ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ ƒ Š‹‡˜‡†ǣ •–—†‡–• ‘‹‰
ˆ”‘ ‰‡‡”ƒŽ ‰”ƒƒ” • Š‘‘Ž• ȋDz ›ƒ•‹—dzȌ –‡† –‘ „‡ •–”‘‰‡” ‘’ƒ”‡† –‘
•–—†‡–• ™‹–Š ƒ –‡ Š‹ ƒŽȀ˜‘ ƒ–‹‘ƒŽ •‡ ‘†ƒ”› • Š‘‘Ž „ƒ ‰”‘—†Ǥ ‡˜‡”–Š‡Ž‡••ǡ
†—‡ –‘ ϐ‹ƒŽ –‡•– •–ƒ†ƒ”†‹•ƒ–‹‘ǡ ƒŽŽ –Š‡ •–—†‡–• ƒ–  ƒ”‡ ‘„Ž‹‰‡† –‘ –ƒ‡ –Š‡
•ƒ‡ –‡•– ƒ– –Š‡ ‡† ‘ˆ ‡ƒ Š •‡‡•–‡”Ǥ Š‡”‡ˆ‘”‡ǡ ‹ˆ •–—†‡–•ǯ ’”‘ϐ‹ ‹‡ › Ž‡˜‡Ž
‹• Ž‘™‡” –Šƒ ”‡“—‹”‡†ǡ –Š‡‹” •— ‡••ˆ—Ž ’‡”ˆ‘”ƒ ‡ †‡’‡†• •–”‘‰Ž› ‘ –Š‡‹”
•‡ŽˆǦ•–—†›Ǥ ‘” ƒ ƒŒ‘”‹–› ‘ˆ –Š‡ •–—†‡–•ǡ ‹– ‹• –Š‡‹” •‡ ‘†ƒ”› • Š‘‘Ž ‡š’‡”‹‡ ‡
™‹–Š ˆ‘”‡‹‰ Žƒ‰—ƒ‰‡• –Šƒ– †‡–‡”‹‡• –Š‡‹” ’”‡•‡– ‘’‡–‡ ‡ǡ ƒ† ƒŽ•‘ –Š‡‹”
‘–‹˜ƒ–‹‘ǡ ƒ’–‹–—†‡ ƒ† ‡š’‡ –ƒ–‹‘•Ǥ

”ƒ™‹‰ ‘ ƒ”‡”ǯ• ȋʹͲͳͷȌ Šƒ”ƒ –‡”‹•–‹ •ǡ •–—†‡–• ƒ‹ˆ‡•– ‡”–ƒ‹ –”ƒ‹–• –›’Ǧ
‹ ƒŽ ˆ‘” ƒ†‘Ž‡• ‡– Ž‡ƒ”‡”• ƒ• ™‡ŽŽ ƒ• –Š‘•‡ –›’‹ ƒŽ ˆ‘” ƒ†—Ž– ‘‡•Ǥ ‡‡ƒ‰‡ •–—Ǧ
†‡–• ƒ”‡ ‹ ˆƒ – –Š‡ „‡•– Žƒ‰—ƒ‰‡ Ž‡ƒ”‡”• ȋ” ͳͻͻ͸Ȍ –Šƒ• –‘ –Š‡ •–ƒ‰‡ ‘ˆ
„”ƒ‹ †‡˜‡Ž‘’‡– ƒ† ‹–• ’Žƒ•–‹ ‹–›ǡ ƒ’ƒ„‹Ž‹–› ‘ˆ ƒ„•–”ƒ – –Š‘—‰Š– ƒ† ‡‘”›
ƒ’ƒ ‹–›Ǥ ‘” ƒ†—Ž– Ž‡ƒ”‡”•ǡ ƒ “—‹”‹‰ ƒ ‡™ Žƒ‰—ƒ‰‡ ‹• ƒ ‘• ‹‘—• ‡š‡” ‹•‡ ‘ˆ
‹–‡ŽŽ‡ –Ǣ –Š‡•‡ •–—†‡–• Šƒ˜‡ ‡”–ƒ‹ ‡š’‡ –ƒ–‹‘• ƒ„‘—– –Š‡ Ž‡ƒ”‹‰ ’”‘ ‡•• ƒ†
ˆ”‡“—‡–Ž› ƒŽ•‘ –Š‡‹” ‘™ •‡– ’ƒ––‡”• ‘ˆ Ž‡ƒ”‹‰Ǥ Š‹Ž‡ †‹•”—’–‹˜‡ „‡Šƒ˜‹‘—” ‹•
”ƒ”‡ǡ –‘ ‡‰ƒ‰‡ •–—†‡–•ǯ ˆ—ŽŽ ƒ––‡–‹‘ ƒ› „‡ ƒ ŠƒŽŽ‡‰‡Ǥ Š‡ –‡ƒ Š‡”ǯ• ϐ‹”•–
–ƒ• ‹• –‘ •–‹—Žƒ–‡ –Š‡ •–—†‡–•ǯ ‡‰ƒ‰‡‡– ™‹–Š ƒ–‡”‹ƒŽ –Šƒ– ‹• ”‡Ž‡˜ƒ– ƒ†
‹˜‘Ž˜‹‰Ǣ –Šƒ– ”‡Žƒ–‡• –‘ –Š‡‹” ‘™ ‹–‡”‡•–•ǡ –Š‘—‰Š–• ƒ† ‡š’‡”‹‡ ‡ ȋ ƒ”‡”
ʹͲͳͷȌǤ Ž•‘ǡ ƒ ‰‘‘† –‡ƒ Š‡” •‡–• Š‹‰Š ‡š’‡ –ƒ–‹‘• ˆ‘” ƒŽŽ •–—†‡–•Ǣ ‹– ‹• ™‡ŽŽ ‘™
–Šƒ– •–—†‡–• ‰‡‡”ƒŽŽ› ‰‹˜‡ –‡ƒ Š‡”• ƒ• — Š ‘” ƒ• Ž‹––Ž‡ ƒ• ‹• ‡š’‡ –‡† ‘ˆ –Š‡Ǥ
 –Š‹• ‘–‡š–ǡ  ‡ƒ Š‹‡ Š‹‰ŠŽ‹‰Š–• –Š‡ ‹’‘”–ƒ ‡ ‘ˆ •–—†‡–•ǯ ˆ‡‡Ž‹‰ –Šƒ– –Š‡
–‡ƒ Š‡” ƒ”‡• ƒ„‘—– „‘–Š –Š‡‹” Ž‡ƒ”‹‰ ƒ† –Š‡ ƒ• ‹†‹˜‹†—ƒŽ•ǡ ƒ† –Š‡ ˜ƒŽ—‡ ‘ˆ
‰‡––‹‰ •–—†‡–• –‘ ’ƒ”–‹ ‹’ƒ–‡ ‹ †‹• —••‹‘ ȋ ‡ƒ Š‹‡ǡ ȋͳͻͷͳǡ ͳͻͻͻȌ ‹ ‡‹‡”
ȋʹͲͲͺȌȌǤ

͵ ‡ƒ”‹‰ •–”ƒ–‡‰‹‡• ƒ† ‘–‹˜ƒ–‹‘

– ‹• ‘‘Ž› ƒ‰”‡‡† –Šƒ– •–—†‡–• †‹ˆˆ‡” ‹ –Š‡‹” ƒ’–‹–—†‡ ˆ‘” Žƒ‰—ƒ‰‡ ƒ “—‹Ǧ
•‹–‹‘Ǥ ‡˜‡”–Š‡Ž‡••ǡ ‹– ‹• Ž‡•• Ž‡ƒ” ™Šƒ– •— Š ƒ ƒ’–‹–—†‡ ‡ƒ• ƒ† Š‘™ ‹– ƒ
„‡ ƒ••‡••‡†Ǥ ƒ”‡” ȋʹͲͳͷȌ Žƒ‹• –Šƒ– •–ƒ†ƒ”† ƒ’–‹–—†‡ –‡•–• ƒ ‘Ž› ‡ƒ•—”‡
‰‡‡”ƒŽ ‹–‡ŽŽ‡ –—ƒŽ ƒ„‹Ž‹–›ǡ ˆƒ˜‘—”‹‰ ƒƒŽ›–‹ –›’‡• ‘ˆ •–—†‡–•Ǥ  ‘”†‹‰ –‘ —ŽǦ
–‹’Ž‡ –‡ŽŽ‹‰‡ ‡• Š‡‘”›ǡ ‹–”‘†— ‡† „› ƒ”†‡” ȋͳͻͺ͵Ȍǡ Š—ƒ• †‘ ‘– ’‘••‡••
ƒ •‹‰Ž‡ ‹–‡ŽŽ‹‰‡ ‡ǡ „—– ƒ ”ƒ‰‡ ‘ˆ ‹–‡ŽŽ‹‰‡ ‡• ȋƒ–Š‡ƒ–‹ ƒŽǡ •’‡ ‹ƒŽǡ Ž‹‰—‹•–‹ ǡ
‡– ǤȌǤ ƒ‹‡Ž ‘Ž‡ƒ ȋͳͻͻ͸Ȍ Šƒ• ƒ††‡† ‡‘–‹‘ƒŽ ‹–‡ŽŽ‹‰‡ ‡Ǥ ŽŽ •–—†‡–• ™‹ŽŽ
Šƒ˜‡ ƒ —‹“—‡ ‘„‹ƒ–‹‘ ‘ˆ –ƒŽ‡–• ƒ† ƒ„‹Ž‹–‹‡•ǡ ƒ† –Š‡› •Š‘—Ž† „‡ ˜‹‡™‡† ƒ†
˜ƒŽ—‡† ˆ”‘ –Šƒ– ’‡”•’‡ –‹˜‡Ǥ ‘–Š‡” ‘ ‡’– –Šƒ– •‹‰‹ϐ‹ ƒ–Ž› ‹ϐŽ—‡ ‡• ”‡•—Ž–•
‹ Žƒ‰—ƒ‰‡ ƒ “—‹•‹–‹‘ ‹• –Š‡ ‘–‹‘ ‘ˆ Ž‘ —• ‘ˆ ‘–”‘Ž ȋ ‹†Ž‡› Ƭ ‘’‡”ǡ ͳͻͺ͵ȌǤ
• ˆ—”–Š‡” ‡Žƒ„‘”ƒ–‡† „› ‹ŽŽ‹ƒ• Ƭ —”†‡ ȋͳͻͻ͹Ȍǡ Ž‡ƒ”‡”• ƒ „‡ †‹˜‹†‡† ‹–‘
Dz‹–‡”ƒŽ‹•‡”•dzǡ ‹Ǥ‡Ǥ –Š‘•‡ ™Š‘ ƒ‡ –Š‹‰• Šƒ’’‡ǡ ƒ† Dz‡š–‡”ƒŽ‹•‡”•dzǡ ‹Ǥ‡Ǥ –Š‘•‡ –‘

͵Ͷ
™Š‘ –Š‹‰• Šƒ’’‡Ǥ  ‘–Š‡” ™‘”†•ǡ •‘‡ •–—†‡–• –”—•– ‹ –Š‡‹” ‘™ ƒ„‹Ž‹–› ƒ†
‡ˆˆ‘”–ǡ ™Š‹Ž‡ ‘–Š‡”• ƒ––”‹„—–‡ –Š‡‹” •–—†› ”‡•—Ž–• –‘ –Š‡ Ž‡˜‡Ž ‘ˆ –ƒ• †‹ˆϐ‹ —Ž–›ǡ ƒ†
ƒŽ•‘ –‘ –Š‡‹” ‘™ ‰‘‘† Ž— Ǥ Š‡ ”‡•‡ƒ” Š ȋ ‹†Ž‡› Ƭ ‘‘’‡” ȋͳͻͻ͵Ȍǡ ‹ ‹ŽŽ‹ƒ•
Ƭ —”†‡ ȋͳͻͻ͹ȌȌ •—‰‰‡•–• –Šƒ– Ž‡ƒ”‡”• ™Š‘ ˆ‡‡Ž ‹ ‘–”‘Ž ‘ˆ –Š‡‹” Ž‡ƒ”‹‰
’”‘ ‡•• •‡‡ –‘ ƒ Š‹‡˜‡ „‡––‡” ”‡•—Ž–•Ǥ

‘–‹˜ƒ–‹‘ ’ƒ›• ƒ ”— ‹ƒŽ ”‘Ž‡ ‹ –Š‡ ’”‘ ‡•• ‘ˆ Ž‡ƒ”‹‰Ǥ ‹ŽŽ‹ƒ• Ƭ —”†‡
ȋͳͻͻ͹Ȍ Žƒ‹ –Šƒ– Žƒ‰—ƒ‰‡ǡ ƒˆ–‡” ƒŽŽǡ ‹• ƒ ’ƒ”– ‘ˆ ‘‡ǯ• ‹†‡–‹–› ƒ† ‹• —•‡† –‘
‘˜‡› –Š‹• ‹†‡–‹–› –‘ ‘–Š‡” ’‡‘’Ž‡Ǥ ‘–‹˜ƒ–‹‘ǡ ‹Ǥ‡Ǥ Dzƒ •–ƒ–‡ ‘ˆ ‘‰‹–‹˜‡ ƒ†
‡‘–‹‘ƒŽ ƒ”‘—•ƒŽǡ ™Š‹ Š Ž‡ƒ†• –‘ ƒ ‘• ‹‘—• †‡ ‹•‹‘ –‘ ƒ –ǡ ƒ† ™Š‹ Š ‰‹˜‡•
”‹•‡ –‘ ƒ ’‡”‹‘† ‘ˆ •—•–ƒ‹‡† ‹–‡ŽŽ‡ –—ƒŽ ƒ†Ȁ‘” ’Š›•‹ ƒŽ ‡ˆˆ‘”– ‹ ‘”†‡” –‘ ƒ––ƒ‹
ƒ ’”‡˜‹‘—•Ž› •‡– ‰‘ƒŽ ‘” ‰‘ƒŽ•dz ȋ‹ŽŽ‹ƒ• Ƭ —”†‡ ȋͳͻͻ͹ǡ ͳʹͲȌǡ ƒ „‡ ‹ϐŽ—‡ ‡†
„› ƒ —„‡” ‘ˆ ‹–‡”ƒŽ ƒ† ‡š–‡”ƒŽ ˆƒ –‘”•Ǥ Š‡ ‹–‡”ƒŽ ˆƒ –‘”• ‹ Ž—†‡ –Š‡
Ž‡ƒ”‡”ǯ• ‹–‡”‡•– ‹ –Š‡ ƒ –‹˜‹–›ǡ –Š‡ ’‡” ‡‹˜‡† ˜ƒŽ—‡ ‘ˆ –Š‡ ƒ –‹˜‹–›ǡ Š‹•ȀŠ‡” •‡•‡
‘ˆ ‘–”‘Ž ƒ† ‘ ‡’– ‘ˆ •‡Žˆǡ Š‹•ȀŠ‡” ƒ––‹–—†‡• –‘ –Š‡ Ž‡ƒ”‹‰ ‹ ‰‡‡”ƒŽǡ –‘ –Š‡
–ƒ”‰‡– Žƒ‰—ƒ‰‡ ƒ†ǡ ƒ††‹–‹‘ƒŽŽ›ǡ –‘ –Š‡ –ƒ”‰‡– Žƒ‰—ƒ‰‡ ‘—‹–› ƒ† —Ž–—”‡ǡ
ƒ†ǡ ϐ‹ƒŽŽ›ǡ Š‹•ȀŠ‡” †‡˜‡Ž‘’‡–ƒŽ ƒ‰‡ ƒ† •–ƒ‰‡Ǥ Š‡ ‡š–‡”ƒŽ ˆƒ –‘”• ‹ ‘”’‘”ƒ–‡
•‹‰‹ϐ‹ ƒ– ‘–Š‡”• ȋˆƒ‹Ž›ǡ –‡ƒ Š‡”•ǡ ’‡‡”•Ȍǡ –Š‡ ƒ–—”‡ ‘ˆ ‹–‡”ƒ –‹‘ ™‹–Š •‹‰‹ϐ‹Ǧ
ƒ– ‘–Š‡”•ǡ –Š‡ Ž‡ƒ”‹‰ ‡˜‹”‘‡–ǡ ƒ† ƒŽ•‘ –Š‡ „”‘ƒ†‡” ‘–‡š– ‘ˆ Ž‡ƒ”‹‰ǡ
‡Ǥ‰Ǥ –Š‡ ™Š‘Ž‡ ˆƒ‹Ž›ǡ —Ž–—”ƒŽ ƒ† ‡†— ƒ–‹‘ƒŽ „ƒ ‰”‘—†Ǥ

Ž–‹ƒ–‡Ž›ǡ –‡ƒ Š‡”• ‡‡† –‘ ƒ”‘—•‡ •–—†‡–•ǯ —”‹‘•‹–› ƒ† ’”‘’‘•‡ –ƒ•• –Šƒ– ƒ”‡
ƒ’’”‘’”‹ƒ–‡ ‹ –‡”• ‘ˆ †‹ˆϐ‹ —Ž–›ǡ •‘ –Šƒ– ƒŽŽ Ž‡ƒ”‡”• Šƒ˜‡ ƒ ‘’’‘”–—‹–› –‘ ‡šǦ
’‡”‹‡ ‡ –Š‡ ˆ‡‡Ž‹‰ ‘ˆ •— ‡••Ǥ ‘•‡“—‡–Ž›ǡ –Š‡ •ƒ‡ Ž‡ƒ”‹‰ –ƒ• ™‹ŽŽ ‘– „‡
ƒ’’”‘’”‹ƒ–‡ ˆ‘” ƒŽŽ •–—†‡–•ǡ ƒ† †‹ˆˆ‡”‡–‹ƒ–‹‘ ‹• ‡‡†‡†ǡ ƒ• ˆ—”–Š‡” †‹• —••‡† ‹
‡ –‹‘ ͶǤ – –Š‡ •ƒ‡ –‹‡ǡ –Š‡ ‘—”•‡ ™‡ –‡ƒ Š ˆ‘ŽŽ‘™• ƒ ”‡Žƒ–‹˜‡Ž› ”‹‰‹† •›ŽŽƒ„—•
™‹–Š ‹–• ƒ‹ ˆ‘ —• ‘ ‡™ ˜‘ ƒ„—Žƒ”› ȋ‡†‹ ƒŽ –‡”‹‘Ž‘‰›ǡ –Š‡ Š—ƒ „‘†›ǡ
†”—‰•ǡ †‹•‡ƒ•‡•ǡ ‡– ǤȌǤ Š‡ –‡ƒ Š‹‰ ƒ’’”‘ƒ Š ‹• ƒ• ˆ‘ŽŽ‘™•ǣ ƒŽŽ •–—†‡–• ƒ”‡ •—’Ǧ
’‘•‡† –‘ ƒ•–‡” ‡”–ƒ‹ Dz ‘”‡dz ˜‘ ƒ„—Žƒ”› ƒ† ‰”ƒƒ”ǡ ™Š‹ Š ‹• Ž‡ƒ”Ž› †‡–‡”Ǧ
‹‡† „› –Š‡ –‡š–„‘‘ ƒ† –Š‡ ƒ “—‹•‹–‹‘ ‘ˆ ™Š‹ Š ‹• ƒ••‡••‡† –Š”‘—‰Š –Š‡ ϐ‹ƒŽ
”‡†‹– –‡•–Ǥ –”‘‰‡” •–—†‡–• ƒ”‡ ‘ˆˆ‡”‡† Dz‡š–‡•‹‘•dzǡ ‹Ǥ‡Ǥ ƒ††‹–‹‘ƒŽ ˜‘ ƒ„—Žƒ”›
‹–‡•ǡ Ž‡•• ˆ”‡“—‡–Ž› —•‡† ‰”ƒƒ” •–”— –—”‡•ǡ ‡– Ǥǡ ˆ‘” ‡šƒ’Ž‡ ‹ –Š‡ ˆ‘” ‘ˆ
†‹ˆˆ‡”‡–‹ƒ–‡† ™‘” •Š‡‡–•Ǥ  ƒ ‹†‡ƒŽ ™‘”Ž†ǡ ‡ƒ Š •–—†‡– ™‘—Ž† „‡‡ϐ‹– ˆ”‘
ƒ †‹ˆˆ‡”‡– ‹š ‘ˆ Ž‡ƒ”‹‰ –ƒ•• ƒ† ƒ –‹˜‹–‹‡•Ǥ Šƒ–ǡ ‘ˆ ‘—”•‡ǡ ‹• ‹’‘••‹„Ž‡ –‘
ƒ Š‹‡˜‡ ‹ –Š‹• ‘–‡š–Ǥ

‡•’‹–‡ –Š‡ ˆƒ – –Šƒ– Žƒ”‰‡ Žƒ••‡• ‘ˆ ‹š‡†ǦŽ‡˜‡Ž •–—†‡–• ƒ† Ž‹‹–‡† Žƒ•• –‹‡
ƒ‡ ‹†‹˜‹†—ƒŽŽ› –ƒ‹Ž‘”‡† –‡ƒ Š‹‰ ‹’‘••‹„Ž‡ǡ ‹– ‹• ‡˜‡”–Š‡Ž‡•• ’‘••‹„Ž‡ –‘ ƒ†ƒ’–
•‘‡ ‡–Š‘†• ƒ† ƒ–‡”‹ƒŽ• –Šƒ– •Š‘—Ž† ’”‘˜‘‡ •–—†‡–•ǯ ‹†‹˜‹†—ƒŽ ‹˜‘Ž˜‡Ǧ
‡– ƒ† ‘–‹˜ƒ–‹‘ „› ƒ‹‰ ƒŽ–‡”ƒ–‹‘• ™Š‹ Š –ƒ‡ ‹–‘ ƒ ‘—– –Š‡‹” †‹ˆˆ‡”‡–
Ž‡˜‡Ž•Ǥ ”‘—•‹‰ ƒ† ƒ‹–ƒ‹‹‰ •–—†‡– ‹–‡”‡•– ‹• ”— ‹ƒŽǡ •‘ –Š‡ •’‡ ‹ϐ‹ –ƒ••
•Š‘—Ž† –”‹‰‰‡” •–—†‡– ‹‹–‹ƒ–‹˜‡ǡ ’”‘‘–‡ ‘ŽŽƒ„‘”ƒ–‹‘ ƒ† ’”‘˜‹†‡ –Š‡ ‡š’‡”‹Ǧ
‡ ‡ ‘ˆ •— ‡••ǡ ™Š‹ Š ƒ „‡ ƒ––ƒ‹‡† „› ‰ƒ‡ǦŽ‹‡ ƒ –‹˜‹–‹‡•ǡ ‘’‡Ǧ‡†‡† “—‡•Ǧ

͵ͷ
–‹‘•ǡ ˜‹•—ƒŽ ƒ–‡”‹ƒŽ•ǡ ‡– Ǥ ȋ”ǡ ʹͲͳʹȌǤ ŽŽ –Šƒ– Š‘’‡ˆ—ŽŽ› Š‡Ž’• •–—†‡–• ƒ Š‹‡˜‡
„‡––‡” ’‡”•‘ƒŽ ”‡•—Ž–• ƒ† ‡Œ‘› –Š‡ ’”‘ ‡•• ‘ˆ Ž‡ƒ”‹‰ ƒ– –Š‡ •ƒ‡ –‹‡Ǥ Š‡
ˆ‘ŽŽ‘™‹‰ •‡ –‹‘ †‹• —••‡• •‘‡ ‘ˆ –Š‡•‡ ‹••—‡• ƒ† ‰‹˜‡• ‡šƒ’Ž‡• ‘ˆ —•‡ˆ—Ž
ƒ†ƒ’–ƒ–‹‘• ˆ‘” †‡ƒŽ‹‰ ™‹–Š ‰”‘—’• Šƒ˜‹‰ ‹š‡• ƒ„‹Ž‹–‹‡•Ǥ

Ͷ ƒƒ‰‹‰ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•

ͶǤͳ Š‘Ž‡Ǧ Žƒ•• –‡ƒ Š‹‰

ƒ ‹‰ ƒ Š‡–‡”‘‰‡‡‘—• ‰”‘—’ǡ –Š‡ –‡ƒ Š‡” •‘‘ †‹• ‘˜‡”• –Šƒ– ™Š‘Ž‡Ǧ Žƒ•• –‡ƒ ŠǦ
‹‰ ‹• ‘– ‹†‡ƒŽǤ ƒ”‡” ȋʹͲͳͷȌ ‘„•‡”˜‡• –Šƒ– –‡ƒ Š‹‰ ƒ† Ž‡ƒ”‹‰ ƒ”‡ ‘ˆ–‡
”‡‰ƒ”†‡† ƒ• Dz™Š‘Ž‡Ǧ Žƒ•• ‰”‘—’‹‰dz Ȃ ƒ ’”‘ ‡•• ‹ ™Š‹ Š ƒ –‡ƒ Š‡” •–ƒ†• ‹ ˆ”‘–
‘ˆ •–—†‡–• ™Š‘ •‹– ‹ ‘”†‡”Ž› ”‘™• ƒ† ‘•–Ž› Ž‹•–‡ –‘ ™Šƒ– –Š‡› ƒ”‡ –‘Ž†Ǥ
‡ Žƒ‹• –Šƒ– –Š‹• –›’‡ ‘ˆ ‹–‡”ƒ –‹‘ ‡ƒ„Ž‡• –‡ƒ Š‡”• –‘ •–ƒ› ‹ ‘–”‘Ž ƒ†
•–”‡‰–Š‡• ƒ •‡•‡ ‘ˆ „‡Ž‘‰‹‰ ™‹–Š‹ ƒ ‰”‘—’Ǥ ‘™‡˜‡”ǡ Š‡ ƒŽ•‘ Ž‹•–• ƒ ˆ‡™
†‹•ƒ†˜ƒ–ƒ‰‡• –Šƒ– •‡‡ ‘ˆ ”— ‹ƒŽ ‹’‘”–ƒ ‡ ™Š‡ †‡ƒŽ‹‰ ™‹–Š ‹š‡†ǦŽ‡˜‡Ž ’”‘Ǧ
ϐ‹ ‹‡ › ™‹–Š‹ ƒ Žƒ••Ǥ ‹”•– ‘ˆ ƒŽŽǡ Š‡ ’‘‹–• ‘—– –Šƒ– •–—†‡–•ǯ •’‡ƒ‹‰ –‹‡ ‹•
•‹‰‹ϐ‹ ƒ–Ž› ”‡†— ‡† †—‡ –‘ –Š‡ ‰”‡ƒ–‡” —„‡” ‘ˆ ’‡‘’Ž‡ –ƒ‹‰ ’ƒ”– ‹ ƒ ‘Ǧ
˜‡”•ƒ–‹‘Ǥ ‘”‡‘˜‡”ǡ ƒ• ƒ”‡” ’—–• ‹–ǡ Dz‹– ˆƒ˜‘—”• –Š‡ ‰”‘—’ ”ƒ–Š‡” –Šƒ –Š‡
‹†‹˜‹†—ƒŽdz ȋ’Ǥ ͳ͹ͺȌǤ Š‹• ‡ƒ• –Šƒ– ‡˜‡”›‘‡ Šƒ• –‘ †‘ –Š‡ •ƒ‡ –Š‹‰ ™‹–Š‹
–Š‡ •ƒ‡ ƒ‘—– ‘ˆ –‹‡ǡ ™Š‹ Š ‹‰Š– „‡ “—‹–‡ ’”‘„Ž‡ƒ–‹ ™‹–Š ‹š‡†Ǧƒ„‹Ž‹–›
Žƒ••‡•Ǥ ‹ƒŽŽ›ǡ  ”‹˜‡‡” ȋʹͲͳʹȌ •–ƒ–‡• –Šƒ– •–”‘‰‡” •–—†‡–• –‡† –‘ †‘‹ƒ–‡
ƒ† †‡’”‹˜‡ ™‡ƒ‡” •–—†‡–• ‘ˆ –Š‡ ’‘••‹„‹Ž‹–› –‘ ˆ—ŽŽ› ’ƒ”–‹ ‹’ƒ–‡Ǥ ‡˜‡”–Š‡Ž‡••ǡ
™‡ ˆ‘—† ™Š‘Ž‡Ǧ Žƒ•• –‡ƒ Š‹‰ „‡‡ϐ‹ ‹ƒŽ ‹ ‡”–ƒ‹ •–ƒ‰‡• ‘ˆ –Š‡ –‡ƒ Š‹‰ ’”‘ ‡••ǡ
•’‡ ‹ϐ‹ ƒŽŽ› ‹ ‹–”‘†— ‹‰ ƒ ‡™ –Š‡‡ ƒ† ƒŽ•‘ ‹ –Š‡ ϐ‹ƒŽǡ ”‡˜‹‡™ •–ƒ‰‡• ‘ˆ
‹†‹˜‹†—ƒŽ ‘” ‰”‘—’ ƒ –‹˜‹–‹‡•Ǥ

ͶǤʹ ƒ‹”‹‰ ƒ† ‰”‘—’‹‰

‹ ‡ ™Š‘Ž‡Ǧ Žƒ•• –‡ƒ Š‹‰ ‹• ‘– „‡ –Š‡ ‘•– ‡ˆˆ‡ –‹˜‡ ƒ’’”‘ƒ Š ™Š‡ †‡ƒŽ‹‰
™‹–Š ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•ǡ †‡Ž‹„‡”ƒ–‡ ‰”‘—’‹‰ ƒ† ’ƒ‹”‹‰ •‡‡ –‘ „‡ ‘ˆ –Š‡
—–‘•– ‹’‘”–ƒ ‡Ǥ †‡”•–ƒ†ƒ„Ž›ǡ ƒ› –‡ƒ Š‡”• ‘ˆ–‡ ƒ••‹‰ ’‡‘’Ž‡ ™Š‘ •‹–
Ž‘•‡ –‘ ‡ƒ Š ‘–Š‡” –‘ ‘ŽŽƒ„‘”ƒ–‡Ǥ ˜‡ –Š‘—‰Š –Š‹• •ƒ˜‡• –‹‡ †—”‹‰ –Š‡ Ž‡••‘ǡ
˜ƒ”‹‡–› ‹ –Š‡ ‰”‘—’‹‰• ƒ‡• •–—†‡–• ‘”‡ ‹˜‘Ž˜‡† ‹ ƒ –ƒ• ƒ† ‡š’‘•‡• –Š‡
–‘ †‹ˆˆ‡”‡– ƒ ‡–• ƒ† ‘’‹‹‘•Ǥ • ”‘†”‘‘— ƒ† Žƒ†ϐ‹‡Ž† ȋʹͲͲ͹Ȍ „‡Ž‹‡˜‡ǡ
–Š‡ ”ƒ‰‡ ‘ˆ ˜ƒ”‹ƒ–‹‘ ‹• ‘•‹†‡”‡† ”— ‹ƒŽ ™Š‡ ‹– ‘‡• –‘ ‰”‘—’‹‰ ‘” ’ƒ‹”‹‰
•–—†‡–• ‹ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•Ǥ ‘– ‘Ž› †‘‡• †‡Ž‹„‡”ƒ–‡ †‹˜‡”•‡ ‰”‘—’‹‰ ‘”
’ƒ‹”‹‰ ’”‡˜‡– „‘”‡†‘ „—– ƒŽ•‘ ƒŽŽ‘™• –‡ƒ Š‡”• –‘ǡ ‹ •‘‡ ‡ƒ•—”‡ǡ ‹ϐŽ—‡ ‡
–Š‡ ‘’‘•‹–‹‘ ‘ˆ ƒ ‰”‘—’ ‘” ƒ ’ƒ‹”Ǥ

‘ †‡ƒŽ ™‹–Š †‹ˆˆ‡”‡ ‡• ‹ Žƒ‰—ƒ‰‡ ’”‘ϐ‹ ‹‡ › ™‹–Š‹ ƒ Žƒ••”‘‘ǡ ƒ› –‡ ŠǦ

‹“—‡• ƒ› „‡ ‹’Ž‡‡–‡†Ǥ ‡ ‘ˆ –Š‡•‡ǡ †‡• ”‹„‡† „› ”‘†”‘‘— ƒ† Žƒ†Ǧ
ϐ‹‡Ž† ȋʹͲͲ͹Ȍ ƒ• Dz ‘ŽŽƒ„‘”ƒ–‹˜‡ ™‘”dzǡ ‹˜‘Ž˜‡• ™‡ƒ‡” ƒ† •–”‘‰‡” •–—†‡–• „‡‹‰

͵͸
’ƒ‹”‡† •‘ –Šƒ– –Š‡ ™‡ƒ‡” ‘‡ ‹• •—’’‘”–‡†Ǥ ‘™‡˜‡”ǡ ƒ•  ”‹˜‡‡” ȋʹͲͳʹȌ ‘–‡•ǡ
‡˜‡ –Š‘—‰Š ™‡ƒ‡” •–—†‡–• ƒ› ‹’”‘˜‡ –Š‡‹” Žƒ‰—ƒ‰‡ •‹ŽŽ• ‘”‡ ‡ˆϐ‹ ‹‡–Ž›ǡ
–Š‡ –‡ Š‹“—‡ —•‡† –‘‘ ‘ˆ–‡ ƒ› —‹–‡–‹‘ƒŽŽ› •–”‡•• –Š‡ †‹ˆˆ‡”‡ ‡• „‡–™‡‡
•–—†‡–• ‘” †‹• ‘—”ƒ‰‡ •–”‘‰‡” ‘‡• †—‡ –‘ –Š‡ Žƒ  ‘ˆ ŠƒŽŽ‡‰‡Ǥ  ’”ƒ –‹ ‡ǡ
™Š‡ ’”‘˜‹†‡† ™‹–Š ’Ž‡–› ‘ˆ ‘ŽŽƒ„‘”ƒ–‹˜‡ –ƒ•• ™Š‹ Š ‘•–ƒ–Ž› ‡’Šƒ•‹•‡ –Š‡
‰ƒ’ ‹ ’”‘ϐ‹ ‹‡ › Ž‡˜‡Ž•ǡ  •–—†‡–•ǯ ™‹ŽŽ‹‰‡•• –‘ ’ƒ”–‹ ‹’ƒ–‡ †”‘’’‡† ‘•‹†Ǧ
‡”ƒ„Ž›Ǥ ‘” –Š‡•‡ ”‡ƒ•‘•ǡ Dz ‘ŽŽƒ„‘”ƒ–‹˜‡ ™‘”dz •Š‘—Ž† ‘– „‡ ‘˜‡”—•‡†Ǥ ‘–Š‡”
–‡ Š‹“—‡ ‡–‹‘‡† „› ”‘†”‘‘— ƒ† Žƒ†ϐ‹‡Ž† ȋʹͲͲ͹Ȍ ‹• —•‹‰ Dzƒ „ƒŽƒ ‡ ‘ˆ
•–—†‡–• ‹ ‡ƒ Š ‰”‘—’dzǡ ™Š‹ Š ƒ „‡ †‘‡ –Š”‘—‰Š †‡Ž‹„‡”ƒ–‡ ˆ”‡“—‡– Šƒ‰‡•
‹ ‰”‘—’‹‰ –Šƒ– ƒ”‡ ‘‹–‘”‡† „› –Š‡ –‡ƒ Š‡”Ǥ Š‡ ‹’Ž‡‡–‹‰ –Š‡ ˜ƒ”‹ƒ–‹‘•ǡ
™Š‹ Š —•—ƒŽŽ› ‹˜‘Ž˜‡• •–ƒ†‹‰ —’ ƒ† ‘˜‹‰ ƒ”‘—† –Š‡ Žƒ••”‘‘ǡ •–—†‡–•
ƒ› •‘‡–‹‡• ‡š’”‡•• ”‡Ž— –ƒ ‡Ǥ ‘ ƒ• –‘ ‘˜‡” ‘‡ –Š‹•ǡ –‡ƒ Š‡”• ƒ› ƒ’’Ž›
‹†‡ƒ• –‘ ƒ‡ ‰”‘—’‹‰ ƒ ‡Œ‘›ƒ„Ž‡ ƒ –‹˜‹–›Ǥ  ”‹˜‡‡” ȋʹͲͳʹȌ Ž‹•–• ƒ› ‹–‡”Ǧ
‡•–‹‰ ™ƒ›• –‘ ’—– •–—†‡–• ‹ ’ƒ‹”• ƒ† ‰”‘—’•Ǣ —ˆ‘”–—ƒ–‡Ž›ǡ ƒ› ‘ˆ –Š‡
†‘ ‘– ƒŽŽ‘™ –‡ƒ Š‡”• –‘ ‘–”‘Ž –Š‡ ‘—– ‘‡ǡ ™Š‹ Š •‡‡• –‘ „‡ ‘ˆ •‹‰‹ϐ‹ ƒ–
‹’‘”–ƒ ‡ ™Š‡ ™‘”‹‰ ™‹–Š ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•Ǥ ‡ ‡–‹‘•ǡ Š‘™‡˜‡”ǡ –Šƒ–
‘‹–‘”‡† ƒ– Š‹‰ ƒ –‹˜‹–‹‡• ƒ „‡ —•‡† –‘ ƒ‹’—Žƒ–‡ ‰”‘—’‹‰ ‘” ’ƒ‹”‹‰Ǥ
Š‡•‡ ƒ”‡ †‘‡ ™Š‡ ƒ –‡ƒ Š‡” ™Š‘ ‹• ‘’Ž‡–‡Ž› ƒ™ƒ”‡ ‘ˆ ™Šƒ– –Š‡› ‰‹˜‡ –‘
™Š‘ †‹•–”‹„—–‡• ’‹‡ ‡• ‘ˆ ƒ –ƒ• –‘ „‡ ƒ– Š‡†Ǥ Š‡”‡ˆ‘”‡ǡ ™Š‡ ’‹‡ ‡• ƒ”‡ ‘–
ƒŽŽ‘ ƒ–‡† ”ƒ†‘Ž›ǡ –Š‡ ‘’‘•‹–‹‘ ‘ˆ ‰”‘—’• ‹• Š‘•‡ ƒ ‘”†‹‰ –‘ –Š‡ –‡ƒ Š‡”ǯ•
‡‡†•Ǥ ‘”‡‘˜‡”ǡ ‹ˆ †‘‡ †‹• ”‡‡–Ž›ǡ •–—†‡–• ƒ› ‘– ‡˜‡ „‡ ƒ™ƒ”‡ ‘ˆ –Š‡ ˆƒ –
–Šƒ– –Š‡ ƒ –‹˜‹–› Šƒ• „‡‡ ƒ‹’—Žƒ–‡†Ǥ

‘ ‹ŽŽ—•–”ƒ–‡ǡ –Š‡ ‡šƒ’Ž‡ „‡Ž‘™ ’”‡•‡–• ƒ ƒ –‹˜‹–› –Šƒ– ‹• —–‹Ž‹•‡† –‘ ’ƒ‹” —’

•–—†‡–• ™Š‘ Šƒ˜‡ „‡‡ ˆƒ‹Ž‹ƒ”‹•‡† ™‹–Š ˜‘ ƒ„—Žƒ”› ‘ ‡”‹‰ ‡†‹ ƒŽ ’”‘Ǧ
ˆ‡••‹‘•Ǥ Š‡ –ƒ„Ž‡ „‡Ž‘™ ‹• —– ‹–‘ ͳ͸ ”‡ –ƒ‰Ž‡• ™Š‹ Š ƒ”‡ –Š‡ †‡Ž‹„‡”ƒ–‡Ž›
†‹•–”‹„—–‡† ƒ‘‰ •–—†‡–•Ǥ Š‹• ‘‹–‘”‡† ƒ– Š‹‰ ƒ –‹˜‹–› ‡•—”‡• ˜‘ ƒ„—Žƒ”›
”‡˜‹•‹‘ǡ ™Š‹ Š ‹• ‘– –Š‡ ƒ‹ ’—”’‘•‡ „—– ƒ ƒ††‹–‹‘ƒŽ ƒ†˜ƒ–ƒ‰‡ǡ ƒ† ’—–•
–Š‡ •–—†‡–• ‹–‘ ’ƒ‹”• ˆ‘” ƒ •— ‡‡†‹‰ ƒ –‹˜‹–› ™‹–Š‘—– –Š‡ ‡˜‡ ”‡ƒŽ‹•‹‰ –Šƒ–
–Š‡ Š‘‹ ‡ ‘ˆ ’ƒ‹”• ‹• ‘– ‘’Ž‡–‡Ž› ”ƒ†‘Ǥ › –”›‹‰ –‘ ϐ‹† ƒ ”‡ –ƒ‰Ž‡ –Šƒ–
‘’Ž‡–‡• –Š‡‹” •‡–‡ ‡•ǡ –Š‡ •–—†‡–• ˆ‘ —• ‘ –Š‡ ƒ– Š‹‰ ƒ –‹˜‹–› ƒ† ƒ”‡
‘– ƒ™ƒ”‡ –Šƒ– –Š‡› ƒ”‡ ’ƒ‹”‡† ’—”’‘•‡ˆ—ŽŽ›Ǥ

͵͹
 ͳȌ  ’ƒ‡†‹ƒ–”‹ ‹ƒ ǥ ͳȌ ǥ –”‡ƒ–• Š‹Ž†”‡Ǥ
ʹȌ ǥ ‡†‹ ‹‡• –‘ ‰‹˜‡ –‘ ‡†‹ ƒŽ •–ƒˆˆ ‘” ʹȌ  ’Šƒ”ƒ ‹•– ’”‡’ƒ”‡• ǥ
’ƒ–‹‡–•Ǥ
ͳȌ  ’ƒ‡†‹ƒ–”‹ ‹ƒ ǥ ͳȌ ǥ –”‡ƒ–• Š‹Ž†”‡Ǥ
ʹȌ ǥ •—’’‘”–• •—”‰‡‘• ‹ –Š‡ ‘’‡”ƒ–‹‰ –Š‡ƒ–”‡Ǥ ʹȌ  • ”—„ —”•‡ ǥ
ͳȌ  ”ƒ†‹‘Ž‘‰‹•– ǥ ͳȌ ǥ –ƒ‡• šǦ”ƒ›• ƒ† ‘–Š‡” ‹ƒ‰‡•Ǥ
ʹȌ ǥ ”‡•’‘†• –‘ ‡‡”‰‡ ‹‡• ƒ† ‰‹˜‡• ϐ‹”•– ʹȌ  ’ƒ”ƒ‡†‹ ǥ
ƒ‹†Ǥ
ͳȌ  ”ƒ†‹‘Ž‘‰‹•– ǥ ͳȌ ǥ –ƒ‡• šǦ”ƒ›• ƒ† ‘–Š‡” ‹ƒ‰‡•Ǥ
ʹȌ ǥ ™‹–Š ’”‡‰ƒ– ™‘‡ ƒ† –Š‡‹” —„‘” ʹȌ  ‘„•–‡–”‹ ‹ƒ ‹• ‘ ‡”‡† ǥ
„ƒ„‹‡•Ǥ
ͳȌ  Žƒ„ –‡ Š‹ ‹ƒ ǥ ͳȌ ǥ ‡šƒ‹‡• •ƒ’Ž‡• ƒ† –‹••—‡• —†‡”
ʹȌ ǥ ƒ––‡†• „‹”–Š• ƒ† †‡Ž‹˜‡”• „ƒ„‹‡•Ǥ ƒ ‹ ”‘• ‘’‡Ǥ
ʹȌ  ‹†™‹ˆ‡ ǥ
ͳȌ  Žƒ„ –‡ Š‹ ‹ƒ ǥ ͳȌ ǥ ‡šƒ‹‡• •ƒ’Ž‡• ƒ† –‹••—‡• —†‡”
ʹȌ ǥ ’‡”ˆ‘”• ‘’‡”ƒ–‹‘•Ǥ ƒ ‹ ”‘• ‘’‡Ǥ
ʹȌ  •—”‰‡‘ ǥ
ͳȌ  ƒ”†‹‘Ž‘‰‹•– ǥ ͳȌ ǥ †‡ƒŽ• ™‹–Š Š‡ƒ”– ’”‘„Ž‡•Ǥ
ʹȌ ǥ ‘˜‡• ˆ—”‹–—”‡ ƒ† ’ƒ–‹‡–• ƒ”‘—† –Š‡ ʹȌ  ’‘”–‡” ǥ
Š‘•’‹–ƒŽǤ
ͳȌ  ƒ”†‹‘Ž‘‰‹•– ǥ ͳȌ ǥ †‡ƒŽ• ™‹–Š Š‡ƒ”– ’”‘„Ž‡•Ǥ
ʹȌ ǥ ’—–• ’ƒ–‹‡–• –‘ •Ž‡‡’ „‡ˆ‘”‡ ‘’‡”ƒ–‹‘•Ǥ ʹȌ  ƒƒ‡•–Š‡–‹•– ǥ

‡ ƒ› ƒ”‰—‡ –Šƒ– ‡˜‡ –Š‘—‰Š ƒ Žƒ•• ‹• †‹˜‹†‡† ‹–‘ •ƒŽŽ ‰”‘—’• ‘” ’ƒ‹”•ǡ
™‡ƒ‡” •–—†‡–• ƒ› •–‹ŽŽ „‡ †‘‹ƒ–‡† „› –Š‘•‡ ™‹–Š „‡––‡” Žƒ‰—ƒ‰‡ ’”‘ϐ‹ ‹‡ ›Ǥ
‘”–—ƒ–‡Ž›ǡ –Š‹• ƒ „‡ ƒ˜‘‹†‡†ǡ –‘ •‘‡ ‡š–‡–ǡ „› ƒŽŽ‘ ƒ–‹‰ ”‘Ž‡• ™‹–Š‹ ‡ƒ Š
‰”‘—’Ǥ Š‹• –‡ Š‹“—‡ ‹• ‡–‹‘‡† „›  ”‹˜‡‡” ȋʹͲͳʹȌǡ ™Š‘ ƒŽŽ• ‹– Dz Šƒ”ƒ –‡”
”‘Ž‡Ǧ ƒ”†•dzǤ ‡’‡†‹‰ ‘ –Š‡ –‘’‹ •–—†‡–• †‹• —••ǡ –Š‡ ”‘Ž‡• ƒ› †‹ˆˆ‡”Ǣ ‹– ‹•
˜‡”› ‹’‘”–ƒ–ǡ Š‘™‡˜‡”ǡ –Šƒ– ‡ƒ Š •–—†‡– ‹• ’”‘˜‹†‡† ™‹–Š Ž‡ƒ” ‹•–”— –‹‘• •‘
–Šƒ– –Š‡› ‘™ ‡šƒ –Ž› ™Šƒ– –Š‡‹” ˆ— –‹‘ ‹•Ǥ  –Š‹• ‹† ‘ˆ ƒ –‹˜‹–›ǡ –Š‡ ”‘Ž‡• ƒ›
„‡ ‘™ „› ƒŽŽ ‰”‘—’ ‡„‡”•ǡ ‘” ƒ› „‡ ‡’– •‡ ”‡–Ǥ Š—•ǡ •–—†‡–• ƒ› „‡
‰‹˜‡ ƒ ’‹‡ ‡ ‘ˆ ’ƒ’‡” ™‹–Š ƒ †‡–ƒ‹Ž‡† †‡• ”‹’–‹‘ ‘ˆ ƒ –ƒ•Ǥ ‘” ‡šƒ’Ž‡ǣ ‘—ǯ”‡
ƒ ‘’Žƒ‹‡”Ǥ Š‡‡˜‡” •‘‡„‘†› Šƒ• ƒ ‹†‡ƒǡ „‡ • ‡’–‹ ƒŽ ƒ„‘—– ‹–Ǥ ”› –‘ ‰‹˜‡ ƒ•
ƒ› †”ƒ™„ƒ • ƒ• ’‘••‹„Ž‡Ǥ ‹† ƒ ‘—–‡”Ǧƒ”‰—‡– ˆ‘” ‡˜‡”› ƒ”‰—‡–Ǥ ”ǣ ƒ‡
•—”‡ –Šƒ– ‡˜‡”›‘‡ •ƒ›• ƒ– Ž‡ƒ•– ͻ •‡–‡ ‡•Ǥ  – ƒ–—”ƒŽŽ›Ǣ †‘ǯ– Ž‡– ‘–Š‡” •–—†‡–• ‘™
™Šƒ– ›‘—” ”‘Ž‡ ‹•Ǥ ‘ ƒ‡ ƒ †‹• —••‹‘ ‡˜‡ ‘”‡ ‡‰ƒ‰‹‰ǡ ƒ ƒ††‹–‹‘ƒŽ ‡Ž‡‡–
ƒ „‡ ƒ††‡†ǡ ƒ– Ž‡ƒ•– •‘‡–‹‡•Ǥ ”‘—’ ‡„‡”• ƒ”‡ ‹•–”— –‡† –‘ ‹†‡–‹ˆ› –Š‡
”‘Ž‡• ‘ˆ ‘–Š‡” ‡„‡”•ǡ ƒ• –Š‡ †‹• —••‹‘ ’”‘ ‡‡†•Ǥ › –”›‹‰ –‘ †‹• ‘˜‡” –Š‡ǡ
™Š‡ •–‹ŽŽ –ƒŽ‹‰ ƒ„‘—– ƒ ‰‹˜‡ •—„Œ‡ –ǡ •–—†‡–• –‡† –‘ •Š‹ˆ– –Š‡‹” ˆ‘ —• ‘–‘
ƒ –ƒ• ™Š‹ Š ƒ’’‡ƒ”• –‘ „‡ Ž‡•• •–”‡••ˆ—Ž –Šƒ ƒ •–ƒ†ƒ”† •’‡ƒ‹‰ ƒ –‹˜‹–›Ǥ Š‹•
ƒ††‹–‹‘ƒŽ –ƒ• Ȃ –‘ †‹• ‘˜‡” ™Š‘ Šƒ• ™Šƒ– ”‘Ž‡ Ȃ ƒ‡• –Š‡ †‹• —••‹‘ ‘”‡
‹–‡”‡•–‹‰ ƒ† ‡Œ‘›ƒ„Ž‡ ˆ‘” –Š‡ ’ƒ”–‹ ‹’ƒ–•Ǥ

 ’”ƒ –‹ ƒŽ ‹ŽŽ—•–”ƒ–‹‘ ‘ˆ •— Š ƒ Šƒ”ƒ –‡” ”‘Ž‡Ǧ ƒ”†• †‹• —••‹‘ ‹• ’”‡•‡–‡† „‡Ǧ
Ž‘™Ǥ Š‡ ƒ‹ •—„Œ‡ – ‘ˆ –Š‡ †‹• —••‹‘ ‹• Dz ‘˜‡–‹‘ƒŽ ƒ† ƒŽ–‡”ƒ–‹˜‡ ‡–Š‘†•

͵ͺ
‘ˆ –”‡ƒ–‡–dzǤ Š‡ •–—†‡–• ƒ”‡ †‹˜‹†‡† ‹–‘ ‰”‘—’• ‘ˆ –Š”‡‡ ƒ† ‡ƒ Š ‰”‘—’ ‹•
‰‹˜‡ ƒ ’‹‡ ‡ ‘ˆ ’ƒ’‡” ™‹–Š –Š‡ ˆ‘ŽŽ‘™‹‰ ‹•–”— –‹‘•ǣ

 ‰”‘—’• ‘ˆ –Š”‡‡ǡ ƒ•™‡” –Š‡ ˆ‘ŽŽ‘™‹‰ “—‡•–‹‘•ǣ

Ȉ Šƒ–ǯ• –Š‡ †‹ˆˆ‡”‡ ‡ „‡–™‡‡ ‘˜‡–‹‘ƒŽ ƒ† ƒŽ–‡”ƒ–‹˜‡ –Š‡”ƒ’‹‡•ǫ
Ȉ Š‘—Ž† ƒƒ„‹• ˆ‘” ‡†‹ ƒŽ ’—”’‘•‡• „‡ Ž‡‰ƒŽ ƒ† ˆ—†‡† „› Š‡ƒŽ–Š
‹•—”ƒ ‡ ‘’ƒ‹‡•ǫ Š›ǫ Š› ‘–ǫ
Ȉ —‰‰‡•– ’‘••‹„Ž‡ ƒŽ–‡”ƒ–‹˜‡ –”‡ƒ–‡–• ˆ‘” –Š‡ ˆ‘ŽŽ‘™‹‰ ’‡‘’Ž‡ǣ
Ȃ ƒ ™‘ƒ ™Š‘ •—ˆˆ‡”• ˆ”‘ Šƒ› ˆ‡˜‡”ǡ „—– ƒˆ–‡” ‰‡––‹‰ ’”‡‰ƒ– —•–
†‹• ‘–‹—‡ —•‹‰ ƒ–‹Š‹•–ƒ‹‡•ǡ
Ȃ ƒ ‡Ž†‡”Ž› ƒ ™Š‘ •—ˆˆ‡”• ˆ”‘ Š”‘‹ Ž‘™‡” „ƒ  ’ƒ‹ǡ
Ȃ ƒ ‹††Ž‡Ǧƒ‰‡† „—•‹‡••ƒ ™Š‘ •—ˆˆ‡”• ˆ”‘ ’‡”•‹•–‡– ‹•‘‹ƒǤ

‡ˆ‘”‡ –Š‡ †‹• —••‹‘ •–ƒ”–•ǡ ‡ƒ Š ‘ˆ –Š‡ –Š”‡‡ •–—†‡–• ‹• ‹†‹˜‹†—ƒŽŽ› ƒŽŽ‘ ƒ–‡†
ƒ •’‡ ‹ϐ‹ ”‘Ž‡ ™Š‹ Š ƒ‹• ƒ– ‡ ‘—”ƒ‰‹‰ •’‘–ƒ‡‘—• •’‡ƒ‹‰ „› Šƒ‰‹‰ –Š‡
ˆ‘ —• ˆ”‘ •’‡ƒ‹‰ ’”ƒ –‹ ‡ ‹–‘ ƒ ‰ƒ‡ǦŽ‹‡ ƒ –‹˜‹–›Ǥ Š‡ –Š”‡‡ ”‘Ž‡Ǧ ƒ”†• ’”‘˜‹†‡
–Š‡ •–—†‡–• ™‹–Š –Š‡ ˆ‘ŽŽ‘™‹‰ –ƒ••ǣ

ͳǤ ƒ‡ •—”‡ –Šƒ– ‡˜‡”›‘‡ •ƒ›• ƒ– Ž‡ƒ•– ͷ •‡–‡ ‡•Ǥ  – ƒ–—”ƒŽŽ›Ǣ †‘ǯ– Ž‡– ‘–Š‡”
•–—†‡–• ‘™ ™Šƒ– ›‘—” ”‘Ž‡ ‹•Ǥ
ʹǤ •‡ –Š‡ ’Š”ƒ•‡ǣ Dz‘— Šƒ˜‡ ƒ ’‘‹– –Š‡”‡ǡ „—– ǥdz ƒ– Ž‡ƒ•– ͷ –‹‡•Ǥ  – ƒ–—”ƒŽŽ›Ǣ
†‘ǯ– Ž‡– ‘–Š‡” •–—†‡–• ‘™ ™Šƒ– ›‘—” ”‘Ž‡ ‹•Ǥ
͵Ǥ ‘— ƒ‘– —•‡ –Š‡ ™‘”†• Dz›‡•dz ‘” Dz‘dzǤ  – ƒ–—”ƒŽŽ›Ǣ †‘ǯ– Ž‡– ‘–Š‡” •–—†‡–•
‘™ ™Šƒ– ›‘—” ”‘Ž‡ ‹•Ǥ

Š‡ Žƒ•– ‹•–”— –‹‘ ‹• ‘ˆ–‡ Š‹‰ŠŽ› †‡ƒ†‹‰ ƒ† ”‡“—‹”‡• ”ƒ–Š‡” ‰‘‘† Žƒ‰—ƒ‰‡
’”‘ϐ‹ ‹‡ ›Ǣ –Š‡”‡ˆ‘”‡ǡ ‹– •Š‘—Ž† „‡ ‰‹˜‡ –‘ –Š‡ •–”‘‰‡•– •–—†‡–•Ǥ Š‡ ƒŽŽ‘ ƒ–‡†
’”‘’‡”Ž›ǡ –Š‡ ƒ††‹–‹‘ƒŽ ‹•–”— –‹‘• ˆ‘” ‡ ƒŽŽ –Š‡ •–—†‡–• –‘ ’ƒ”–‹ ‹’ƒ–‡ ‹ –Š‡
‘˜‡”•ƒ–‹‘ †—‡ –‘ †‹ˆˆ‡”‡– –ƒ•• –Š‡› ‡‡† –‘ ˆ—Žϐ‹ŽǤ • ƒ ”‡•—Ž–ǡ –Š‡ •‹–—ƒ–‹‘
™Š‡ ™‡ƒ‡” •–—†‡–• †‘ ‘– –ƒ‡ ’ƒ”– ‹ ‰”‘—’ ‘˜‡”•ƒ–‹‘• ‹• Ž‡•• ˆ”‡“—‡–Ǣ
ƒŽ•‘ǡ –Š‡ ƒŒ‘”‹–› ‘ˆ •–—†‡–• ϐ‹† ƒ –‹‰ Š‹‰ŠŽ› ‡Œ‘›ƒ„Ž‡Ǥ

‘–Š‡” ’”‘˜‡ ‘‘’‡”ƒ–‹˜‡ –‡ Š‹“—‡ ‹• –Š‡ –Š”‡‡Ǧ’Šƒ•‡ †‹ƒŽ‘‰—‡ǡ ƒŽ•‘ ‘™

ƒ• –Š‹Ȁ’ƒ‹”Ȁ•Šƒ”‡ ȋ‹‡‰Ž‘˜ƒƴ ʹͲͳͻȌǤ –—†‡–• ϐ‹”•– ™‘” ‘ ƒ –ƒ• ‹†‹˜‹†—ƒŽŽ›ǡ
–Š‡ ˆ‘” ’ƒ‹”• ƒ† †‹• —•• ƒ† ‘’ƒ”‡ –Š‡‹” •‘Ž—–‹‘•ǡ ƒ†ǡ ‹ –Š‡ Žƒ•– ’Šƒ•‡ǡ
–Š‡› †‹• —•• –Š‡ ‘•– •—‹–ƒ„Ž‡ ’”‘’‘•ƒŽ• ‹ Žƒ”‰‡” ‰”‘—’•Ǥ  –Š‡ ƒ –‹˜‹–› †‡• ”‹„‡†
„‡Ž‘™ǡ ‡ƒ Š •–—†‡– ‰‡–• ‘‡ ‘’› ‘ˆ –Š‡ ƒ†‹••‹‘ †‹ƒŽ‘‰—‡Ǥ Š‡”‡ ƒ”‡ –™‘ ˜‡”Ǧ
•‹‘• ‘ˆ –Š‡ –ƒ•ǣ ‘‡ ™‹–Š ƒ Š‘‹ ‡ ‘ˆ ”‡’Žƒ ‡‡– ƒ•™‡”• –‘ Š‘‘•‡ ˆ”‘ ȋˆ‘”
™‡ƒ‡” •–—†‡–•ȌǢ ‘‡ ™‹–Š‘—– ƒ› •— Š Š‘‹ ‡ǡ ™Š‡”‡ –Š‡ •–—†‡–• ‡‡† –‘ ’”‘Ǧ
’‘•‡ –Š‡‹” ‘™ •‘Ž—–‹‘•Ǥ Š‡ •–—†‡–• ™‹–Š †‹ˆˆ‡”‡– ˜‡”•‹‘• ™‘” ‹ ’ƒ‹”• ƒ†
‘’ƒ”‡ ƒ† †‹• —•• –Š‡‹” ’”‘’‘•ƒŽ•Ǥ  –Š‡ ‡†ǡ ’ƒ‹”‡† •–—†‡–• •Šƒ”‡ –Š‡ ƒ‰”‡‡†Ǧ

͵ͻ
‘ ˜‡”•‹‘ ‘ ƒ Žƒ••Ǧ™‹†‡ Ž‡˜‡Žǡ ƒ† –Š‡ •—‹–ƒ„‹Ž‹–› ‘ˆ –Š‡ ‹†‹˜‹†—ƒŽ ’”‘’‘•ƒŽ• ‹•
†‹• —••‡†Ǥ Š‡ ƒ–—”‡ ‘ˆ –Š‡ –ƒ• Š‡Ž’• †‡˜‡Ž‘’ •‡•‹–‹˜‹–› –‘™ƒ”†• –Š‡ Ž‡˜‡Ž ‘ˆ ’‘Ǧ
Ž‹–‡‡•• ‹ •’‡ ‹ϐ‹ ’”‘ˆ‡••‹‘ƒŽ •‡––‹‰•Ǥ Š‡ –‡ Š‹“—‡ ‹–•‡Žˆ ‹• „‡‡ϐ‹ ‹ƒŽ ‹ –‡”•
‘ˆ ‹˜‘Ž˜‡‡–ǡ ‘‘’‡”ƒ–‹‘ǡ ’‡‡” –‡ƒ Š‹‰ǡ ƒ† †‡˜‡Ž‘’‡– ‘ˆ ‘—‹ ƒ–‹‘
•‹ŽŽ•Ǥ

‡’Žƒ ‡ ‡ƒ Š —†‡”Ž‹‡† ’Š”ƒ•‡ ‹ –Š‡ †‹ƒŽ‘‰—‡ ™‹–Š ƒ ƒŽ–‡”ƒ–‹˜‡ ’‘Ž‹–‡ ’Š”ƒ•‡Ǥ

ȋ•‡ –Š‡ Ž‹•– „‡Ž‘™ǤȌ
—”•‡ǣ Šƒ˜‡ ˆ‘”‰‘––‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ›‘—” ƒ‡Ǥ
ƒ–‹‡–ǣ –ǯ• ”• –‡‹
ǣ ˆ ‘—”•‡ǡ ”• –‡‹Ǥ ‹˜‡ ‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ›‘—” Ž‡––‡” ‘ˆ ”‡ˆ‡””ƒŽǤ
ǣ ‡”‡ ‹– ‹•Ǥ
ǣ Šƒ•Ǥ ‘ǡ ”• –‡‹ǡ ›‘— Šƒ˜‡ ‘‡ ‹ ˆ‘” ”‡‘˜ƒŽ ‘ˆ ˜ƒ”‹ ‘•‡ ˜‡‹•ǫ
ǣ ‡•Ǥ Š‡ ‘’‡”ƒ–‹‘ ‹• –Š‹• ƒˆ–‡”‘‘Ǥ
ǣ ‘ϐ‹” Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‘‡ ‘” –™‘ –Š‹‰•Ǥ
‹”•–ǡ ƒ”‡ ›‘— ‘ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ› ‡†‹ ƒ–‹‘ǫ
ǣ ‡•ǡ –ƒ‡ ‡Žƒˆƒš‹‡Ǥ
ǣ Šƒ– ˆ‘” Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ǫ
ǣ –ƒ‡ ‹– ˆ‘” †‡’”‡••‹‘Ǥ
ǣ Ǥ ‘™ǡ –‡ŽŽ ‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ„‘—– ›‘—” Ž‹ˆ‡•–›Ž‡Ǥ
‡’‘”– Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ› ƒŽ ‘Š‘Ž ‘” †”—‰ ’”‘„Ž‡• ›‘— Šƒ˜‡Ǥ
ǣ ‘‡Ǥ †‘ǯ– †”‹ ƒ† †‘ǯ– –ƒ‡ †”—‰•Ǥ
ǣ Ž•‘ǡ –‡ŽŽ ‡ ‹ˆ ›‘— Šƒ˜‡ Šƒ† Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ› ‘–ƒ – ™‹–Š  ‹ –Š‡ ’ƒ•– ›‡ƒ”Ǥ
ǣ Šƒ˜‡ǯ– Šƒ† ƒ› ‘–ƒ – ™‹–Š ǡ ‘Ǥ
ǣ ‹‡ǡ ƒ† ™Š‘ ‹• Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ’ƒ›‹‰ ˆ‘” –Š‡ –”‡ƒ–‡–ǫ
ǣ ǯ ‘˜‡”‡† „› ‡†‹ ƒŽ ‹•—”ƒ ‡Ǥ
ǣ ”‡ƒ–Ǥ † Žƒ•–Ž›ǡ ›‘— —•– Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ –ƒ‡ ‘ˆˆ ›‘—” ƒ‡Ǧ—’ ƒ† ›‘—” ”‹‰•Ǥ

™‘—Ž† ›‘— ‹† ‹ˆ ƒ•‡† ›‘— –‘Ǣ ‹–ǯ• ‹’‘”–ƒ– –‘ ‘™ ƒ„‘—–Ǣ ƒ ›‘— –‡ŽŽ ‡ Š‘™ ›‘— ƒ”‡Ǣ ‘—Ž† ›‘—
–‡ŽŽ ‡ ‹ˆ ›‘— –ƒ‡Ǣ ǯ •‘””›ǡ ƒǯ– ”‡‡„‡”Ǣ ‡‡† –‘ ‘™ ‹ˆ ›‘— Šƒ˜‡Ǣ ƒ ›‘— Ž‡– ‡ Šƒ˜‡Ǣ ǯ† Ž‹‡
–‘ Š‡ Ǣ ƒ› ƒ• ™Š›Ǣ Šƒ˜‡ –‘ ƒ•
†ƒ’–‡† ˆ”‘ǣ ”‹ ‡ǡ Ǥ Ƭ ”‡‡ƒǡ Ǥ ȋʹͲͲͺȌǤ —”•‹‰ ͸Ǥ šˆ‘”†ǣ ǡ ͳͳǤ

ͶǤ͵ ‘‹ƒ–‹‰

 ‘”†‹‰ –‘ ”‘†”‘‘— ƒ† Žƒ†ϐ‹‡Ž† ȋʹͲͲ͹Ȍǡ †‡Ž‹„‡”ƒ–‡ ‘‹ƒ–‹‰ ȋ‹Ǥ‡Ǥ ƒŽŽ‹‰

‘ •’‡ ‹ϐ‹ •–—†‡–•Ȍ ‹• „‡Ž‹‡˜‡† –‘ „‡ ƒ ”‡Ž‡˜ƒ– –‘‘Ž ™Š‡ †‡ƒŽ‹‰ ™‹–Š ‹š‡†Ǧ
ƒ„‹Ž‹–› Žƒ••‡•Ǥ – ‹• ƒ ‘‘ ‘ —””‡ ‡ –Šƒ– ™Š‡ ƒ ‰”‘—’ ‘ˆ •–—†‡–• ‹• ƒ•‡†
–‘ ”ƒ‹•‡ –Š‡‹” Šƒ†• ƒ† ƒ•™‡” “—‡•–‹‘•ǡ ‹– ‹• —•—ƒŽŽ› –Š‡ •–”‘‰‡” ƒ† ‘”‡
‘ϐ‹†‡– •–—†‡–• ™Š‘ †‘ ‹– ϐ‹”•–Ǥ ‡Ž‹„‡”ƒ–‡ ‘‹ƒ–‹‰ ‡ƒ„Ž‡• –‡ƒ Š‡”• –‘ ‘”‡
‘” Ž‡•• ‡“—ƒŽŽ› †‹˜‹†‡ –Š‡ •’‡ƒ‹‰ –‹‡ ƒ† ƒ• ‘”‡ ‘” Ž‡•• †‡ƒ†‹‰ “—‡•Ǧ
–‹‘• †‡’‡†‹‰ ‘ ƒ •–—†‡–ǯ• Ž‡˜‡Ž ‘ˆ ’”‘ϐ‹ ‹‡ ›Ǥ —”–Š‡”‘”‡ǡ ™Š‡ ‘‹ƒ–‡†
™‹–Š‘—– ƒ› •’‡ ‹ϐ‹ ‘”†‡” ȋ—‡š’‡ –‡†Ž›Ȍǡ ‡˜‡”›‘‡ ƒ’’‡ƒ”• –‘ „‡ ‘”‡ ˆ‘ —•‡†
‘ ƒ –ƒ•Ǥ • ”‘†”‘‘— ƒ† Žƒ†ϐ‹‡Ž† ȋʹͲͲ͹Ȍ ’‘‹– ‘—–ǡ ‹– ‹• ‡ ‡••ƒ”› –‘ •–ƒ–‡
ƒ –ƒ• ‘” ƒ• ƒ “—‡•–‹‘ „‡ˆ‘”‡ ƒŽŽ‘ ƒ–‹‰ ‹– –‘ ƒ •–—†‡–Ǥ Šƒ– ™ƒ›ǡ •–—†‡–• ƒ”‡

ͶͲ
‰‹˜‡ –‹‡ –‘ ‘’”‡Š‡† ƒ† ‹–‡”’”‡– “—‡•–‹‘• ƒ†ǡ ‘•– ‹’‘”–ƒ–Ž›ǡ ’”‡Ǧ
’ƒ”‡ ƒ•™‡”•Ǥ ƒ•–Ž›ǡ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡• ”‡“—‹”‡ ƒ –‡ƒ Š‡” –‘ ‡‡’ ƒ ‘Ǧ‰‘‹‰
”‡ ‘”† ‘ˆ ƒŽŽ –Š‡ •–—†‡–• ™Š‘ Šƒ˜‡ ƒŽ”‡ƒ†› •’‘‡ •‘ –Šƒ– –Š‡ •’‡ƒ‹‰ –‹‡ ‹•
†‹•–”‹„—–‡† ‡˜‡Ž›Ǥ  ‘—” ‡š’‡”‹‡ ‡ǡ ‘‹ƒ–‹‰ Š‡Ž’• –ƒ‹Ž‘” –Š‡ –ƒ•Ȁ“—‡•–‹‘
–‘ –Š‡ •–—†‡–•ǯ ’”‘ϐ‹ ‹‡ › Ž‡˜‡Ž ƒ† ‘–”‘Ž –Š‡‹” •’‡ƒ‹‰ –‹‡Ǥ

ͶǤͶ –Š‡” –‡ Š‹“—‡• ƒ† •–”ƒ–‡‰‹‡•

—””‡– –‡ƒ Š‹‰ ‡–Š‘†‘Ž‘‰‹‡• ’”‘’‘•‡ ƒ ˜ƒ”‹‡–› ‘ˆ ‘–Š‡” –‡ Š‹“—‡• ƒ† •–”ƒ–‡Ǧ
‰‹‡• —•‡† –‘ ˆƒ ‹Ž‹–ƒ–‡ –Š‡ –‡ƒ Š‹‰ ’”‘ ‡•• ‹ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•Ǥ ‘ „‡‰‹ ™‹–Šǡ
 ”‹˜‡‡” ȋʹͲͳʹȌ ’‘‹–• ‘—– –Šƒ– –Š‡ •ƒ‡ –ƒ• ƒ› „‡ ‰‹˜‡ ‹ ƒ Š‘‹ ‡ ‘ˆ
˜‡”•‹‘•Ǥ ‡‹‰ ’”‘„ƒ„Ž› –Š‡ ‘•– ‘‘ •‘Ž—–‹‘ǡ †‹ˆˆ‡”‡–‹ƒ–‡† ™‘”•Š‡‡–•
™‹–Š‹ ƒ ‰”‘—’ •‡‡ –‘ „‡ ‘ˆ ”— ‹ƒŽ ‹’‘”–ƒ ‡Ǥ Šƒ– ™ƒ› •–”‘‰‡” •–—†‡–• ƒ”‡
’”‘˜‹†‡† ™‹–Š ƒ ŠƒŽŽ‡‰‡ ƒ’’”‘’”‹ƒ–‡ ˆ‘” –Š‡‹” Žƒ‰—ƒ‰‡ Ž‡˜‡ŽǢ ™‡ƒ‡” •–—†‡–•ǡ
Š‘™‡˜‡”ǡ ƒ”‡ ‡ƒ„Ž‡† –‘ ‘’Ž‡–‡ –Š‡ ‰‹˜‡ –ƒ• –Šƒ• –‘ ƒ††‹–‹‘ƒŽ •—’’‘”–Ǥ
Š‡ ˆ‘ŽŽ‘™‹‰ ‡šƒ’Ž‡ ‘ˆ ƒ †‹ˆˆ‡”‡–‹ƒ–‡† ™‘”•Š‡‡– ‹• ‰‹˜‡ „›  ”‹˜‡‡” ȋʹͲͳʹǡ
’Ǥ ͻͲȌǣ Dz‘ˆˆ‡” ƒ ‘’‡ ™”‹–‹‰ –ƒ• ˆ‘” •–”‘‰‡” •–—†‡–• ƒ† ƒ •‹‹Žƒ” –ƒ• ˆ‘”
™‡ƒ‡” •–—†‡–•ǡ „—– ™‹–Š ƒ††‡† •—’’‘”–ǡ ‡Ǥ‰Ǥ ‰—‹†‹‰ “—‡•–‹‘•ǡ ƒ ’ƒ”–‹ƒŽŽ› ™”‹–Ǧ
–‡ –‡š– ‘” ƒ Ž‹•– ‘ˆ ”‡ƒ†›Ǧƒ†‡ ’Š”ƒ•‡•Ǥdz – ‡‡†• –‘ „‡ ‡’Šƒ•‹•‡† –Šƒ– ™Š‡
†‡ƒŽ‹‰ ™‹–Š ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•ǡ –ƒ• ˜ƒ”‹ƒ–‹‘ †‘‡• ‘– ‹’Ž› –Šƒ– ƒ –‡ƒ Š‡”
Šƒ• –‘ ’”‡’ƒ”‡ –™‘ •‡’ƒ”ƒ–‡ Ž‡••‘ ’Žƒ•Ǥ ƒ”‹‡–› ƒ „‡ ‘ˆˆ‡”‡† –Šƒ• –‘ ƒ ˆ‡™
•‹’Ž‡ ‡ƒ•—”‡•ǡ ‡Ǥ‰Ǥ ƒ††‹‰ ‘”‡ ‰ƒ’• ˆ‘” •–”‘‰‡” •–—†‡–•ǡ ƒ††‹‰ ƒ††‹–‹‘ƒŽ
•—’’‘”–‹‰ “—‡•–‹‘• ‘” ˜‹•—ƒŽ• ˆ‘” ™‡ƒ‡” •–—†‡–•ǡ ’”‘˜‹†‹‰ ™‡ƒ‡” •–—†‡–•
™‹–Š ƒ Ž‹•– ‘ˆ —•‡ˆ—Ž ’Š”ƒ•‡•ǡ ‡– Ǥ  ‡šƒ’Ž‡ ‘ˆ •— Š ƒ †‹ˆˆ‡”‡–‹ƒ–‡† ‡š‡” ‹•‡
ˆ‘”  •–—†‡–• ‹• ’”‡•‡–‡† „‡Ž‘™Ǥ ‡”•‹‘  ˆ‘ —•‡• ‘ ˜‘ ƒ„—Žƒ”› ’”‘„Ž‡•
‹ ƒ ‘–‡š–Ǣ ˜‡”•‹‘ ǡ Š‘™‡˜‡”ǡ ™Š‹ Š ‹• ƒŽŽ‘ ƒ–‡† –‘ ‘”‡ ’”‘ϐ‹ ‹‡– •–—†‡–•ǡ
’”‘˜‹†‡• –Š‡ ƒ††‹–‹‘ƒŽ ŠƒŽŽ‡‰‡ ‘ˆ ™‘”† ˆ‘”ƒ–‹‘ ƒ† ‰”ƒƒ–‹ ƒŽ ’”‘„Ž‡•Ǥ

Ͷͳ
 ‡”•‹‘  Ȃ ‹ŽŽ ‹ –Š‡ ‰ƒ’• —•‹‰ –Š‡ ‰‹˜‡ ™‘”†•ǣ
Žƒ›‡” Ȁ •ƒŽŽ‡•– Ȁ ‡ˆˆ‡ –• Ȁ ™‡‹‰Š– Ȁ †ƒ‰‡”‘—• Ȁ •ƒˆ‡Ž› Ȁ
—†‡•‹”ƒ„Ž‡ Ȁ ’”‡• ”‹„‡ Ȁ ‹–‡”ƒ – Ȁ ”‡‰‹‡ Ȁ †”‘™•‹‡••
Š‡ ƒ‘—– ‘ˆ ƒ †”—‰ –ƒ‡ ƒ– ƒ› ‘‡ –‹‡ ‹• ƒŽŽ‡† ƒ †‘•‡Ǥ  ‹‹ƒŽ †‘•‡
‹• –Š‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ‘—– –Šƒ– ™‹ŽŽ ‰‹˜‡ –Š‡ †‡•‹”‡† ‡ˆˆ‡ –ǡ ™Š‹Ž‡ ƒ ƒš‹ƒŽ
†‘•‡ ‹• –Š‡ Žƒ”‰‡•– ƒ‘—– –Šƒ– ƒ „‡ ƒ†‹‹•–‡”‡† Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Š›•‹ ‹ƒ•
‘ˆ–‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ ƒ˜‡”ƒ‰‡ †‘•‡ Ȃ –Š‡ ƒ‘—– –Šƒ– ‹• ‡ˆˆ‡ –‹˜‡ ˆ‘” ‘•–
’ƒ–‹‡–•Ǥ  †‘•‡ ƒ „‡ ‡š’”‡••‡† ƒ• –Š‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‘ˆ –Š‡ †”—‰ǡ ‡Ǥ‰Ǥ ͶͲͲ‰ǡ
‘” ˜‘Ž—‡ǡ ‡Ǥ‰Ǥ ͳͷŽǤ – ƒ ƒŽ•‘ „‡ ƒ —„‡” ‘ˆ ‹–‡• ‹ ƒ †‘•‡ǡ Ž‹‡ ͳ ’‹ŽŽ ‘”
ʹ ƒ’•—Ž‡•ǡ ‘” •‘‡ ‘–Š‡” “—ƒ–‹–›ǡ ‡Ǥ‰Ǥ ƒ –Š‹ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‘ˆ ‘‹–‡–Ǥ Š‡
ˆ”‡“—‡ › ƒ– ™Š‹ Š –Š‡ †”—‰ ‹• –ƒ‡ ‹• ƒŽŽ‡† –Š‡ †”—‰ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ – ‡ƒ•
Š‘™ ƒ› –‹‡• ƒ †ƒ› ƒ ’ƒ–‹‡– Šƒ• –‘ –ƒ‡ –Š‡ †”—‰ ƒ† ™Šƒ– –‹‡ ’‡”‹‘†
•Š‘—Ž† „‡ „‡–™‡‡ –Š‡ †‘•‡•Ǥ ƒ–‹‡–• —•‡ –Š‡‹” †”—‰• ˆ‘” ‡”–ƒ‹ –Š‡”ƒ’‡—–‹
‡ˆˆ‡ –•ǡ „—– ƒ› †”—‰• ƒŽ•‘ Šƒ˜‡ ‘–Š‡”ǡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‡ˆˆ‡ –• ‘ –Š‡ „‘†› ƒŽŽ‡†
•‹†‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ǡ •— Š ƒ• ƒ—•‡ƒǡ †‹ƒ””Š‘‡ƒǡ †‹œœ‹‡••ǡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ǡ ”ƒ•Š‡•ǡ
™‡‹‰Š– ‰ƒ‹ ƒ† ‘–Š‡”•Ǥ ‘ –‘”• ƒŽ•‘ Šƒ˜‡ –‘ –ƒ‡ ‹–‘ ‘•‹†‡”ƒ–‹‘ –Šƒ– ƒ›
–™‘ ‡†‹ ƒ–‹‘• ƒ› Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ™‹–Š ‡ƒ Š ‘–Š‡”ǡ ‡‹–Š‡” ‡Šƒ ‹‰ ‘”
•—’’”‡••‹‰ –Š‡‹” ‡ˆˆ‡ –•Ǥ ‘„‹‹‰ †”—‰• ƒ ƒŽ•‘ „‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ

‡”•‹‘  Ȃ ‹ŽŽ ‹ –Š‡ ‰ƒ’• —•‹‰ –Š‡ ‰‹˜‡ ™‘”†•Ǥ

Š‡ ™‘”†• ‹ „‘Ž† ‡‡† –‘ „‡ —•‡† ‹ †‹ˆˆ‡”‡– ™‘”† ˆ‘”•ǣ
Žƒ›‡” Ȁ •ƒŽŽ Ȁ ‡ˆˆ‡ –• Ȁ ™‡‹‰Š– Ȁ †ƒ‰‡” Ȁ •ƒˆ‡ Ȁ
—†‡•‹”ƒ„Ž‡ Ȁ ’”‡• ”‹„‡ Ȁ ‹–‡”ƒ – Ȁ ”‡‰‹‡ Ȁ †”‘™•›
Š‡ ƒ‘—– ‘ˆ ƒ †”—‰ –ƒ‡ ƒ– ƒ› ‘‡ –‹‡ ‹• ƒŽŽ‡† ƒ †‘•‡Ǥ  ‹‹ƒŽ †‘•‡
‹• –Š‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ‘—– –Šƒ– ™‹ŽŽ ‰‹˜‡ –Š‡ †‡•‹”‡† ‡ˆˆ‡ –ǡ ™Š‹Ž‡ ƒ ƒš‹ƒŽ
†‘•‡ ‹• –Š‡ Žƒ”‰‡•– ƒ‘—– –Šƒ– ƒ „‡ ƒ†‹‹•–‡”‡† Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Š›•‹ ‹ƒ•
‘ˆ–‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ƒ ƒ˜‡”ƒ‰‡ †‘•‡ Ȃ –Š‡ ƒ‘—– –Šƒ– ‹• ‡ˆˆ‡ –‹˜‡ ˆ‘” ‘•–
’ƒ–‹‡–•Ǥ  †‘•‡ ƒ „‡ ‡š’”‡••‡† ƒ• –Š‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‘ˆ –Š‡ †”—‰ǡ ‡Ǥ‰Ǥ ͶͲͲ‰ǡ
‘” ˜‘Ž—‡ǡ ‡Ǥ‰Ǥ ͳͷ ŽǤ – ƒ ƒŽ•‘ „‡ ƒ —„‡” ‘ˆ ‹–‡• ‹ ƒ †‘•‡ǡ Ž‹‡ ͳ ’‹ŽŽ ‘”
ʹ ƒ’•—Ž‡•ǡ ‘” •‘‡ ‘–Š‡” “—ƒ–‹–›ǡ ‡Ǥ‰Ǥ ƒ –Š‹ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‘ˆ ‘‹–‡–Ǥ Š‡
ˆ”‡“—‡ › ƒ– ™Š‹ Š –Š‡ †”—‰ ‹• –ƒ‡ ‹• ƒŽŽ‡† –Š‡ †”—‰ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ – ‡ƒ•
Š‘™ ƒ› –‹‡• ƒ †ƒ› ƒ ’ƒ–‹‡– Šƒ• –‘ –ƒ‡ –Š‡ †”—‰ ƒ† ™Šƒ– –‹‡ ’‡”‹‘†
•Š‘—Ž† „‡ „‡–™‡‡ –Š‡ †‘•‡•Ǥ ƒ–‹‡–• —•‡ –Š‡‹” †”—‰• ˆ‘” ‡”–ƒ‹ –Š‡”ƒ’‡—–‹
‡ˆˆ‡ –•ǡ „—– ƒ› †”—‰• ƒŽ•‘ Šƒ˜‡ ‘–Š‡”ǡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ‡ˆˆ‡ –• ‘ –Š‡ „‘†› ƒŽŽ‡†
•‹†‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ǡ •— Š ƒ• ƒ—•‡ƒǡ †‹ƒ””Š‘‡ƒǡ †‹œœ‹‡••ǡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ǡ ”ƒ•Š‡•ǡ
™‡‹‰Š– ‰ƒ‹ ƒ† ‘–Š‡”•Ǥ ‘ –‘”• ƒŽ•‘ Šƒ˜‡ –‘ –ƒ‡ ‹–‘ ‘•‹†‡”ƒ–‹‘ –Šƒ– ƒ›
–™‘ ‡†‹ ƒ–‹‘• ƒ› Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ ™‹–Š ‡ƒ Š ‘–Š‡”ǡ ‡‹–Š‡” ‡Šƒ ‹‰ ‘”
•—’’”‡••‹‰ –Š‡‹” ‡ˆˆ‡ –•Ǥ ‘„‹‹‰ †”—‰• ƒ ƒŽ•‘ „‡ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ Ǥ
†ƒ’–‡† ˆ”‘ǣ ‡ŽÇƴ‘˜ƒƴ ǡ Ǥ Ƭ ”‘••‡ǡ Ǥ ȋʹͲͳ͵ȌǤ ‰Ž‹•Š ˆ‘” ‡†‹ ƒŽ ”‘ˆ‡••‹‘• ͸Ǥ
Žœ‡Ƽ ǣ ƒƴ ’ƒ†‘ Ƽ ‡•ƒƴ ‹˜‡”œ‹–ƒ ˜ Žœ‹ǡ ʹͶǤ

Ͷʹ
Š‡ ‘‘ ‘ —””‡ ‡ ‘ˆ Š‹‰ŠǦŽ‡˜‡Ž •–—†‡–• ϐ‹‹•Š‹‰ ‡ƒ”Ž› ƒ› ƒ—•‡ ƒ ’”‘„Ǧ
Ž‡ ˆ‘” ƒ› –‡ƒ Š‡”•Ǥ ” ȋʹͲͳ͸Ȍ •—‰‰‡•–• –Šƒ– ‘‡ •Š‘—Ž† ’”‡’ƒ”‡ ƒ –ƒ• ƒǦ
ƒ‰‡ƒ„Ž‡ „› ƒŽŽ ‘ˆ –Š‡ •–—†‡–• ƒ†ǡ ƒ††‹–‹‘ƒŽŽ›ǡ Šƒ˜‡ •‘‡–Š‹‰ –Šƒ– ‹‰Š– „‡
—†‡”–ƒ‡ „› ˜‘Ž—–‡‡”•Ǥ Š‡ ‘„•‡”˜‡• –Šƒ– ‡˜‡”›‘‡ ™Š‘ ˆ—Žϐ‹Ž• –Š‡ ƒ†ƒ–‘”›
‡š‡” ‹•‡ •— ‡‡†•ǡ ƒ† •–—†‡–• ™Š‘ ƒƒ‰‡ –‘ †‘ ‘”‡ •— ‡‡† ‡˜‡ ‘”‡Ǥ Š—•ǡ
–Š‡”‡ ‹• ‘ •‡•‡ ‘ˆ ˆƒ‹Ž—”‡ǡ Œ—•– ƒ •ƒŽŽ‡” ‘” „‹‰‰‡” •— ‡••Ǥ ” ȋʹͲͳ͸Ȍ Šƒ• ƒŽ•‘
†”ƒ™ ƒ––‡–‹‘ –‘ –Š‡ ˆƒ – –Šƒ– •–”‘‰‡” •–—†‡–• ƒ› •‘‡–‹‡• ‡‡† ”‡‹ˆ‘” ‡Ǧ
‡– –‘ ™‘” ‘ ‘’–‹‘ƒŽ –ƒ••ǡ ™Š‡”‡ƒ• ™‡ƒ‡” •–—†‡–• ‹‰Š– ‡‡† ƒ••—”ƒ ‡
–Šƒ– ‹– ‹• ‡‘—‰Š –‘ †‘ ƒ†ƒ–‘”› ‡š‡” ‹•‡•Ǥ

”ƒ –‹ ƒŽ ‹’Ž‡‡–ƒ–‹‘ ‘ˆ –Š‡ •–”ƒ–‡‰› ‹• ‹ŽŽ—•–”ƒ–‡† „‡Ž‘™Ǥ Š‡ –ƒ„Ž‡ ’”‡•‡–•

ƒ –ƒ• –Šƒ– ƒ‹• ƒ– ‹–‡”˜‹‡™‹‰ ‘‡ǯ• Žƒ••ƒ–‡• ƒ„‘—– –Š‡‹” ‡ƒ–‹‰ Šƒ„‹–• ƒ†
Ž‡˜‡Ž• ‘ˆ ’Š›•‹ ƒŽ ƒ –‹˜‹–›Ǥ Š‡ •–—†‡–• ™ƒŽ ƒ”‘—† –Š‡ Žƒ••”‘‘ ƒ† ƒ• “—‡•Ǧ
–‹‘• –‘ ‰ƒ–Š‡” ‹ˆ‘”ƒ–‹‘ ƒ„‘—– –Š‡‹” Žƒ••ƒ–‡•Ǥ ‘ ƒ‡ •—”‡ –Šƒ– ‡˜‡”›„‘†›
‹• ƒ„Ž‡ –‘ ˆ—Žϐ‹Ž –Š‡ ‡š‡” ‹•‡ ‹ –‹‡ǡ –Š‡ •–—†‡–• ƒ”‡ –‘Ž† –Šƒ– ‹– ‹• ”‡“—‹”‡† ˆ‘”
–Š‡ –‘ ‹–‡”˜‹‡™ ƒ ‹‹— ‘ˆ –™‘ ’‡‘’Ž‡Ǥ Š‡”‡ˆ‘”‡ǡ –Š‡ •–”‘‰‡” •–—†‡–•
Šƒ˜‡ ƒ ‘’’‘”–—‹–› –‘ •’‡ƒ ‘”‡ǡ ƒ† –Š‡ ™‡ƒ‡” ‘‡• ƒ •— ‡••ˆ—ŽŽ› ˆ—Žϐ‹Ž
–Š‡ ƒ†ƒ–‘”› –ƒ• ™‹–Š ‘ •‡•‡ ‘ˆ ˆƒ‹Ž—”‡Ǥ

Žƒ••ƒ–‡ Žƒ••ƒ–‡ Žƒ••ƒ–‡ Žƒ••ƒ–‡

‘Ǥ ͳ ‘Ǥ ʹ ‘Ǥ ͵ ‘Ǥ Ͷ

Šƒ– †‘‡• Š‡Ȁ•Š‡

–›’‹ ƒŽŽ› ‡ƒ– ‹
ƒ †ƒ›ǫ
• Š‡Ȁ•Š‡ ƒ –‹˜‡ǫ
Šƒ– †‘‡• Š‡Ȁ•Š‡
†‘ –‘ •–ƒ› ƒ –‹˜‡ǫ
Šƒ– ƒ”‡ –Š‡
’‘•‹–‹˜‡ ƒ†
‡‰ƒ–‹˜‡ ƒ•’‡ –• ‘ˆ
Š‹•ȀŠ‡” †‹‡–ǫ
‘™ ‹• Š‹•ȀŠ‡”
Š‡ƒŽ–Š ‹ ‰‡‡”ƒŽǫ

 ‘”†‹‰ –‘ ” ȋʹͲͳ͸Ȍǡ ‹– ‹• ‡••‡–‹ƒŽ –‘ ’—– ƒ› ‘’‡Ǧ‡†‡† “—‡•–‹‘•ǡ ƒ• –Š‡›

ˆƒ ‹Ž‹–ƒ–‡ ƒ•™‡” ˜ƒ”‹‡–›Ǥ Š‡ ƒ•‡† ƒ ‘’‡Ǧ‡†‡† “—‡•–‹‘ǡ •–—†‡–• ƒ› —•‡
˜‘ ƒ„—Žƒ”› ƒ† ’Š”ƒ•‡• –Š‡› ƒ”‡ ˆƒ‹Ž‹ƒ” ™‹–Š ƒ†ǡ –Š‡”‡ˆ‘”‡ǡ ‘•–”— – •‡–‡ ‡•
ƒ†Œ—•–‡† –‘ –Š‡‹” ‘™ Žƒ‰—ƒ‰‡ Ž‡˜‡ŽǤ —‡•–‹‘• –Šƒ– ƒ”‡ Ž‘•‡†Ǧ‡†‡† ƒ”‡ ‘ˆ–‡
’”‡’ƒ”‡† ˆ‘” ‘‡ •’‡ ‹ϐ‹ Ž‡˜‡Ž ‘ˆ Žƒ‰—ƒ‰‡ ’”‘ϐ‹ ‹‡ ›Ǥ Š—•ǡ ƒ› •–—†‡–• ™Š‘
ƒ”‡ ‹ ƒ ‹š‡†Ǧƒ„‹Ž‹–› ‰”‘—’ ƒ› ϐ‹† –Š‡ ‡‹–Š‡” –‘‘ ŠƒŽŽ‡‰‹‰ ‘” –‘‘ •‹’Ž‡Ǥ

‘–Š‡” ’”ƒ –‹ ƒŽ ‡šƒ’Ž‡ ‘ˆ –ƒ• ˜ƒ”‹ƒ–‹‘ ‹• ‹ŽŽ—•–”ƒ–‡† ‹ –Š‡ Dzƒ‹‰ –Š‡ Š‹•Ǧ
–‘”›dz ‡š‡” ‹•‡ „‡Ž‘™Ǥ ˆ–‡” Šƒ˜‹‰ Ž‹•–‡‡† –‘ ƒ ƒ†‹••‹‘ †‹ƒŽ‘‰—‡ǡ •–—†‡–•
ƒ”‡ ƒ•‡† –‘ ’”ƒ –‹ ‡ –Š‡ “—‡•–‹‘• „› ƒ•‹‰ ˆ‘” ’‡”•‘ƒŽ ƒ† ‡†‹ ƒŽ †‡–ƒ‹Ž•

Ͷ͵
‘ˆ –Š‡‹” ’ƒ”–‡”• ƒ† ϐ‹ŽŽ‹‰ –Š‡ ‹–‘ –Š‡ ˆ‘”Ǥ Š‡”‡ ƒ”‡ –™‘ ˜ƒ”‹‡–‹‡• ‘ˆ –Š‡
”‡ ‘”† ˆ‘”•ǡ ‡ƒ Š ƒ˜ƒ‹Žƒ„Ž‡ ‹ •‹š ˜‡”•‹‘•Ǥ Š‡ ˆ‘”• ƒ”‡ †‘—„Ž‡Ǧ•‹†‡†ǣ ‘‡ •‹†‡
‘–ƒ‹• †‡–ƒ‹Ž• ‘ˆ ƒ Dz‘ dz ‹†‡–‹–› –‘ „‡ ƒ••—‡† „› –Š‡ •–—†‡–Ǣ –Š‡ ‘–Š‡” •‹†‡
‹• Œ—•– ƒ ‡’–› ˆ‘”Ǥ –—†‡–• ™‘” ‹ ’ƒ‹”•ǡ ƒ•‹‰ –Š‡‹” ’ƒ”–‡”• ˆ‘” †‡–ƒ‹Ž• –‘
‘’Ž‡–‡ –Š‡ ‡’–› ˆ‘” ™‹–Š –Š‡ ”‡Ž‡˜ƒ– †‡–ƒ‹Ž•Ǥ Š‡ •Š‘”–‡” ˜ƒ”‹‡–›ǡ ƒŽŽ‘ ƒ–‡†
–‘ ™‡ƒ‡” •–—†‡–•ǡ ˆ‘ —•‡• ‘ ’”ƒ –‹•‹‰ „ƒ•‹ “—‡•–‹‘• ‡‡†‡† ™Š‡ –ƒ‹‰
ƒ ’ƒ–‹‡–ǯ• Š‹•–‘”›Ǥ Š‡ Ž‘‰‡” ˜ƒ”‹‡–› ‡š–‡†• –Š‡ –ƒ• ‹ –‡”• ‘ˆ „‘–Š –Š‡ —Ǧ
„‡” ƒ† ‘’Ž‡š‹–› ‘ˆ “—‡•–‹‘• ‡ ‡••ƒ”› ƒ† –Š‡ Ž‡˜‡Ž ‘ˆ †‡–ƒ‹Ž ‹ –Š‡ ƒ•™‡”•ǡ
–Š—• ‹–”‘†— ‹‰ ‘˜‡Ž ˜‘ ƒ„—Žƒ”› ‹–‡•Ǥ –—†‡–• ƒ”‡ ƒŽŽ‘™‡† –Š‡ •ƒ‡ ƒ‘—–
‘ˆ –‹‡Ǣ –Š‡ ‘’Ž‡š‹–› ‘ˆ –Š‡ •‡ ‘† ˆ‘” –›’‹ ƒŽŽ› ‡Ž‹‹ƒ–‡• –Š‡ ‘ —””‡ ‡ ‘ˆ
‡ƒ”Ž› ϐ‹‹•Š‡”•Ǥ  –Š‡ ϐ‹ƒŽ ”‡˜‹‡™ǡ ‡ƒ Š ‹†‹˜‹†—ƒŽ •–—†‡– ”‡’‘”–• –Š‡ ‡†‹ ƒŽ
‘†‹–‹‘ ‘ˆ Š‹•ȀŠ‡” ’ƒ”–‡” ȋ‡˜‡”› ‹†‹˜‹†—ƒŽ ‘†‹–‹‘ ™‹ŽŽ „‡ †‹ˆˆ‡”‡–ȌǤ  Ž‹•– ‘ˆ
–Š‡ ‘†‹–‹‘• ˆ‘—† ‹ ƒŽŽ ˜‡”•‹‘• ‹• ‘’‹Ž‡† ‘ –Š‡ „‘ƒ”† ƒ† •–—†‡– ’ƒ‹”• ƒ”‡
ƒ•‡† –‘ †‘ ƒ Dz–”‹ƒ‰‡dzǡ ‹Ǥ‡Ǥ –‘ †‡ ‹†‡ ƒ„‘—– –Š‡ ’”‹‘”‹–› ‘ˆ –”‡ƒ–‡– ™‹–Š ”‡•’‡ – –‘
–Š‡ Ž‡˜‡Ž ‘ˆ ‡†‹ ƒŽ ‡‡”‰‡ › ‘ˆ –Š‡ ‹†‹˜‹†—ƒŽ ‘†‹–‹‘•Ǥ Š”‘—‰Š –Š‹• ƒ –‹˜‹–›ǡ
™‡ƒ‡” •–—†‡–• ƒ”‡ ˆƒ‹Ž‹ƒ”‹œ‡† ™‹–Š •‘‡ ‘ˆ ‡™ ˜‘ ƒ„—Žƒ”›ǡ ƒ†ǡ ƒ– –Š‡ •ƒ‡
–‹‡ǡ ƒ”‡ ’”‘’–‡† –‘ †‹• —•• ƒ† ’‘••‹„Ž› ƒ”‰—‡ ƒ„‘—– –Š‡‹” ’”‹‘”‹–› •‡“—‡ ‡ǡ
–Š—• ’”ƒ –‹•‹‰ ‘”ƒŽ ϐŽ—‡ ›Ǥ

ƒ–‹‡– ‡ ‘”† ͳ
‹”•– ƒ‡ǣ ‡‹ˆ‡”
—”ƒ‡ –‹•
 ͷͿ  –‘„‡”ǡ ͷͿͿ͹
††”‡•• ͸͹ǡ ’’‡” ƒ‡ǡ  ƒ”„‘”‘—‰Š
 —’ƒ–‹‘ –‡ƒ Š‡”
ƒ”‹–ƒŽ •–ƒ–—• ƒ””‹‡†
‡š– ‘ˆ ‹ Š—•„ƒ†
‘–ƒ – ‘Ǥ ͽ͹ͽ Ϳͻͼ ͹ͺͽ
‘‹‰ ‹–ƒ‡ †‘‡•ǯ– •‘‡
Ž ‘Š‘Ž ‹–ƒ‡ ‘ ƒ•‹‘ƒŽŽ›ǡ ͸Ͷ —‹–• ȋͶǤ͸ ŽȌ ’‡” ™‡‡
‡ƒ•‘ ˆ‘” ƒ†‹••‹‘ ƒ” ƒ ‹†‡–ǡ „”‘‡ Ž‡‰ ƒ† ”‹„
‡†‹ ƒŽ Š‹•–‘”› –›’‡ ͸ †‹ƒ„‡–‡• ȋ‘ ‹•—Ž‹Ȍ
ŽŽ‡”‰‹‡• ‘ ƒŽŽ‡”‰‹‡•
 ” ‹ ‘Žƒ• ƒ›‡”

ͶͶ
 ƒ–‹‡– ‡ ‘”† ʹ
ƒ‡ ƒ† •—”ƒ‡ ƒ  ‘––
 ͹ͷ —‰—•–ǡ ͷͿͻͼ
††”‡•• ͷͺǡ ‘‘Ž‹‰Š– ”‡• ‡–ǡ ”‹‰Š–‘
 —’ƒ–‹‘ ”‡–‹”‡†ǡ ™‘”• ’ƒ”–Ǧ–‹‡ ƒ• ƒ ƒ ‘—–ƒ–
ƒ”‹–ƒŽ •–ƒ–—• ƒ””‹‡†ǡ –™‘ Š‹Ž†”‡
‡š– ‘ˆ ‹ ™‹ˆ‡ ŽŽ‹•‘ǡ ‘„‹Ž‡ ͼͶͻ ͷ͸͹ ͼͻͺ
Ž ‘Š‘Ž ‹–ƒ‡ ͹Ͷ —‹–• ’‡” ™‡‡ǡ ‘ ’”‘„Ž‡ ™‹–Š ƒŽ ‘Š‘Ž
™‹–Š†”ƒ™ƒŽ
‘‹‰ ‹–ƒ‡ Ȁƒ
Š‹‡ˆ ‘’Žƒ‹–ǣ •Š‘”–‡•• ‘ˆ „”‡ƒ–Š
††‹–‹‘ƒŽ ‘’Žƒ‹–• ‘—‰Šǡ „Ž‘‘† ‹ •’—–—
‰‰”ƒ˜ƒ–‹‰ ˆƒ –‘”• ‡š‡” ‹•‡ǡ Ž‹„‹‰ •–ƒ‹”•
‡Ž‹‡˜‹‰ ˆƒ –‘”• •Ž‡‡’‹‰ ™‹–Š •—’’‘”–‡† Š‡ƒ†
”—‰ Š‹•–‘”› —”ƒ†‡‹‡ ȋ’ƒ‹‹ŽŽ‡”Ȍ ‘ ƒ•‹‘ƒŽŽ› ˆ‘” Š‡ƒ†ƒ Š‡
‡†‹ ƒŽ Š‹•–‘”› Š‘•’‹–ƒŽ‹œ‡† ‹ ͸Ͷͷͷ ™‹–Š •—•’‡ –‡† Š‡ƒ”– ƒ––ƒ 
ƒ‹Ž› Š‹•–‘”› „”‡ƒ•– ƒ ‡” ‘ ‘–Š‡”ǯ• •‹†‡ǡ ‘–Š‡” †‹‡† ͸ͶͶͻ
ˆƒ–Š‡” †‹‡† ͷͿͿ; ‘ˆ •–”‘‡
ŽŽ‡”‰‹‡• ‰Ž—–‡ǡ •’‡ ‹ƒŽ †‹‡–
 ” ‹–œ™‹ŽŽ‹ƒ ‘ŽŽ‹•

ͶǤͷ ‡ƒ–‹‰ ƒ””ƒ‰‡‡–

 ‘•– ƒ•‡•ǡ •— ‡••ˆ—Ž ‘‘’‡”ƒ–‹‘ ™‹–Š‹ ƒ ‰”‘—’ǡ ‡•’‡ ‹ƒŽŽ› ‘ˆ ‹š‡†Ǧƒ„‹Ž‹–›ǡ

†‡’‡†• ‰”‡ƒ–Ž› ‘ –Š‡ •‡ƒ–‹‰ ƒ””ƒ‰‡‡–Ǥ ƒ”‡” ȋʹͲͲ͹Ȍ Ž‹•–• ˆ‘—” ™ƒ›• ‘ˆ
ƒ””ƒ‰‹‰ •‡ƒ–•ǣ ‘”†‡”Ž› ”‘™• ȋ–”ƒ†‹–‹‘ƒŽȌǡ ƒ† Š‘”•‡•Š‘‡ǡ ‹” Ž‡ ‘” ‘†—Žƒ” ƒ”Ǧ
”ƒ‰‡‡–•Ǥ ‡ Žƒ‹• –Šƒ– ‘”†‡”Ž› ”‘™• ‡ƒ„Ž‡ –‡ƒ Š‡”• –‘ –Š‘”‘—‰ŠŽ› ‘‹–‘”
•–—†‡–•ǯ ™‘” ƒ† ƒ‹–ƒ‹ ‡›‡ ‘–ƒ – ™‹–Š –Š‡Ǥ —”–Š‡”‘”‡ǡ –Š‹• ‹† ‘ˆ
ƒ””ƒ‰‡‡– ‹• ”‡‰ƒ”†‡† ƒ• •—‹–ƒ„Ž‡ ˆ‘” ƒ –‹˜‹–‹‡• •— Š ƒ• ‰”ƒƒ” ‡š’Žƒƒ–‹‘ǡ
‰‹˜‹‰ ’”‡•‡–ƒ–‹‘•ǡ ‘” ™ƒ– Š‹‰ ƒ ˜‹†‡‘Ǥ Š‡ Š‘”•‡•Š‘‡ ‘” ‹” Ž‡ ƒ””ƒ‰‡‡–•
ƒ”‡ ‘ˆ–‡ —•‡† ™‹–Š •ƒŽŽ‡” ‰”‘—’•Ǥ Ž‹‡ ‘”†‡”Ž› ”‘™•ǡ –Š‡•‡ ƒ””ƒ‰‡‡–•
’ƒ”–‹ —Žƒ”Ž› ‡ƒ„Ž‡ •–—†‡–Ǧ•–—†‡– ‹–‡”ƒ –‹‘ǡ Ž‡ƒ”‡”Ǧ–‡ƒ Š‡” ‡“—ƒŽ‹–› ƒ† Žƒ••
”‡Žƒ–‹‘•Š‹’•Ǣ ƒ› –‡ƒ Š‡”• ‘•‹†‡” –Š‡•‡ ˆƒ –‘”• ƒ• ‹’‘”–ƒ– ƒ• ƒ “—‹”‹‰
‘™Ž‡†‰‡Ǥ ‹ƒŽŽ›ǡ –Š‡ ‘†—Žƒ” ƒ””ƒ‰‡‡–ǡ ƒŽ•‘ ƒŽŽ‡† •‡’ƒ”ƒ–‡ –ƒ„Ž‡•ǡ ‹• ‘ˆ–‡
•‡‡ ‹ •’‡ ‹ƒŽ‹•‡† Žƒ••‡•ǡ ˆ‘” ‹•–ƒ ‡ Žƒ„‘”ƒ–‘”‹‡•Ǥ ‡•– ȋʹͲͳͲȌ •–ƒ–‡• –Šƒ– –Š‹•
–›’‡ ‘ˆ •‡ƒ–‹‰ ‹• ƒ”‡† „› •–—†‡–• •‹––‹‰ ‹ ‰”‘—’• ƒ”‘—† ƒ ˆ‡™ –ƒ„Ž‡• ƒ†
ƒ –‡ƒ Š‡” ƒ’’”‘ƒ Š‹‰ –Š‡ –ƒ„Ž‡• –‘ ‘–”‘Žǡ ‹•–”— – ƒ† Š‡Ž’ –Š‡ Ž‡ƒ”‡”•Ǥ Šƒ•

Ͷͷ
–‘ –Š‡ ‘†—Žƒ” ƒ””ƒ‰‡‡–ǡ •–—†‡–Ǧ•–—†‡– ‹–‡”ƒ –‹‘ „‡ ‘‡• –Š‡ ‡–”‡ ‘ˆ
–‡ƒ Š‡”•ǯ ƒ––‡–‹‘Ǥ

 ‘—” ‡š’‡”‹‡ ‡ǡ ˜ƒ”‹ƒ–‹‘ ‹ •‡ƒ–‹‰ ƒ””ƒ‰‡‡–• ‹• ƒ ‹†‹•’‡•ƒ„Ž‡ –‘‘Ž –‘

ƒ Š‹‡˜‡ ‰‘‘† ”‡•—Ž–•Ǥ – ‡ƒ„Ž‡• –‡ƒ Š‡”• –‘ —•‡ ƒ ‰”‡ƒ–‡” ˜ƒ”‹‡–› ‘ˆ –ƒ•• ƒ†
ƒ –‹˜‹–‹‡• ™‹–Š •–—†‡–•Ǣ ‹– ƒŽ•‘ ‡ƒ„Ž‡• –‡ƒ Š‡”• –‘ †‡–‡”‹‡ ™Šƒ– ™‘”• „‡•–
ˆ‘” –Š‡‹” Žƒ••‡•Ǥ • †‹• —••‡† ƒ„‘˜‡ǡ ƒ –‹˜‹–› –›’‡ ‘” Ž‡˜‡Ž †‹ˆˆ‡”‡–‹ƒ–‹‘ ‹• —Ǧ
ƒ˜‘‹†ƒ„Ž‡ ™Š‡ –‡ƒ Š‹‰ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•Ǣ –Š—•ǡ –Š‡ —•‡ ‘ˆ ƒ ˜ƒ”‹‡–› ‘ˆ •‡ƒ–Ǧ
‹‰ ƒ””ƒ‰‡‡–• ˆ‘” †‹ˆˆ‡”‡– ‹†• ‘ˆ ƒ –‹˜‹–‹‡• Š‡Ž’• ƒ†† ƒ ƒ††‹–‹‘ƒŽ Ž‡˜‡Ž ‘ˆ
†‹˜‡”•‹–›Ǥ

‘ Ž—•‹‘
Š‡ ‹–‡–‹‘ ‘ˆ –Š‹• ƒ”–‹ Ž‡ ‹• –‘ ”‡˜‹‡™ •–”ƒ–‡‰‹‡• –Šƒ– Šƒ˜‡ ’”‘˜‡† –Š‡•‡Ž˜‡•
–‘ „‡ –Š‡ ‘•– ’”‘†— –‹˜‡ ‹ –‡ƒ Š‹‰ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•ǡ —•‹‰ –Š‡ ‡šƒ’Ž‡
‘ˆ ‰Ž‹•Š Žƒ‰—ƒ‰‡ •–—†‡–• ‘ˆ –Š‡ ƒ —Ž–› ‘ˆ ‡ƒŽ–Š ƒ”‡ –—†‹‡• ȋ Ȍ ƒ– –Š‡
‹˜‡”•‹–› ‘ˆ ‡•– ‘Š‡‹ƒǤ ˆ–‡” Šƒ”ƒ –‡”‹œ‹‰ –Š‡ •–—†‡–• ‘ˆ –Š‡•‡ Žƒ••‡• ‹
–‡”• ‘ˆ –Š‡‹” ‹‹–‹ƒŽ Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ ƒ• ”‡ϐŽ‡ –‡† ‹ –‡•– • ‘”‡•ǡ ‹••—‡• ‘ˆ ŽƒǦ
‰—ƒ‰‡ ƒ’–‹–—†‡ ƒ† ‘–‹˜ƒ–‹‘• ƒ”‡ †‹• —••‡†Ǥ Š‡ ƒ—–Š‘”• –Š‡ †‹• —•• ˜ƒ”‹‘—•
–‡ƒ Š‹‰ •–”ƒ–‡‰‹‡• ƒ† †‡• ”‹„‡ –Š‡‹” ’”ƒ –‹ ƒŽ ‹’Ž‡‡–ƒ–‹‘ ‹ Žƒ••‡•ǡ ™‹–Š
‡šƒ’Ž‡• ‘ˆ ƒ –‹˜‹–‹‡• ƒ† ƒ–‡”‹ƒŽ• –Šƒ– ƒ „‡ —•‡† •— ‡••ˆ—ŽŽ› ™‹–Š ‹š‡†Ǧ
ƒ„‹Ž‹–› ‰”‘—’•Ǥ

‘‡ ‘ˆ –Š‡ •–”ƒ–‡‰‹‡• ’”‡•‡–‡† ™‹ŽŽ ”‡“—‹”‡ ”ƒ–Š‡” •‘’Š‹•–‹ ƒ–‡† ’”‡’ƒ”ƒ–‹‘ ‘
–Š‡ ’ƒ”– ‘ˆ –Š‡ –‡ƒ Š‡”Ǣ ‘”‡‘˜‡”ǡ ‘ ‡ ‹ ’Žƒ ‡ǡ –Š‡ –‡ƒ Š‡” ‡‡†• –‘ „‡ •‡•‹–‹˜‡
–‘™ƒ”†• –Š‡ —‹“—‡ ƒ–‘•’Š‡”‡ ‹ –Š‡ Žƒ•• ‰”‘—’ ™Š‡ —•‹‰ ƒ ’ƒ”–‹ —Žƒ” –‡ ŠǦ
‹“—‡Ǥ –—†‡–•ǯ ‘’‡–‡ ‡ǡ ƒ’–‹–—†‡ǡ ‘–‹˜ƒ–‹‘ǡ ƒ† ‘–Š‡” Šƒ”ƒ –‡”‹•‡• ƒ”‡ ‘–
ϐ‹š‡†Ǣ –Š‡› ƒŽ–‡” ‘˜‡” –‹‡Ǥ ‡•’‹–‡ –Š‡ Ž‹‹–ƒ–‹‘• ‘ˆ –‹‡ ƒ† ‰”‘—’ •‹œ‡ǡ –‡ƒ Š‡”•
—•– ƒ••‡•• –Š‡ †‹ˆˆ‡”‡– Ž‡˜‡Ž• ’”‡•‡– ‹ ƒ ‹š‡†Ǧƒ„‹Ž‹–› Žƒ•• ƒ† ƒ†‘’– ƒ†
ƒ†Œ—•– ƒ–‡”‹ƒŽ•ǡ –ƒ•• ƒ† ‡š’‡ –ƒ–‹‘• ‹ ‘”†‡” –‘ǡ ƒ• — Š ƒ• ’‘••‹„Ž‡ǡ ’‘•‹–‹˜‡Ž›
‹ϐŽ—‡ ‡ –Š‡ Ž‡ƒ”‹‰ ‘—– ‘‡• ˆ‘” ƒŽŽ ‹†‹˜‹†—ƒŽ •–—†‡–•Ǥ ˜‡ –Š‘—‰Š ‘‡ ƒ›
ƒ••—‡ –Šƒ– ™‘”‹‰ ™‹–Š ‹š‡†Ǧƒ„‹Ž‹–› ‰”‘—’• ‹• †‡ƒ†‹‰ǡ –‹‡Ǧ ‘•—‹‰
ƒ† •‘‡–‹‡• ˆ”—•–”ƒ–‹‰ǡ ‹– ‹‰Š– ƒŽ•‘ „‡ •‡‡ ƒ• ƒ ŠƒŽŽ‡‰‡ ƒ† ƒ ”‡™ƒ”†‹‰
‡š’‡”‹‡ ‡ ˆ‘” ƒ –‡ƒ Š‡”Ǥ

 ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•ǡ ‘’ƒ”‹‰ ‘‡ǯ• ‘™ ”‡•—Ž–• ™‹–Š –Š‘•‡ ‘ˆ ˆ‡ŽŽ‘™ •–—Ǧ
†‡–• ‘‡• ƒ–—”ƒŽŽ›Ǥ Š‡ ”‘Ž‡ ‘ˆ ƒ –‡ƒ Š‡” ‹• –‘ •‡”˜‡ ƒ• ƒ ‰—‹†‡ǡ –‘ ‡š’Žƒ‹ –Šƒ–
ƒ •–ƒ”–‹‰ ’‘‹– ƒ› „‡ •‡– †‹ˆˆ‡”‡–Ž› ˆ‘” ‹†‹˜‹†—ƒŽ •–—†‡–•ǡ „—– –Š‡› ƒŽŽ Šƒ˜‡ –Š‡
•ƒ‡ ‘’’‘”–—‹–› –‘ ‘˜‡ —’Ǥ ƒ˜‹‰ •ƒ‹† –Šƒ–ǡ ™‡ —•– –Š‡ „‡ ™‹ŽŽ‹‰ –‘ ’—–
‹ –Š‡ ‡ˆˆ‘”– ”‡“—‹”‡† –‘ ƒ†‘’– ‘—” –‡ƒ Š‹‰ ƒ –‹˜‹–‹‡• ƒ• — Š ƒ• ’‘••‹„Ž‡ –‘ –Š‡
†‹ˆˆ‡”‡– Ž‡˜‡Ž• ’”‡•‡– ‹ ‘—” Žƒ••‡•Ǥ Š‡ǡ ‹ˆ –Š‡ Ž‡ƒ”‹‰ ’”‘ ‡•• –ƒ‡• ’Žƒ ‡
‹ ƒ ˆ”‹‡†Ž› ƒ–‘•’Š‡”‡ǡ ‹• ‹–‡”‡•–‹‰ǡ ˜ƒ”‹‡†ǡ ƒ† ‡Œ‘›ƒ„Ž‡ǡ ƒŽŽ •–—†‡–• ™‹ŽŽ
–Š”‹˜‡Ǥ Š‡ —Ž–‹ƒ–‡ ƒ‹ ‘ˆ ƒ ‰‘‘† –‡ƒ Š‡” ‹• –Šƒ– ƒŽŽ •–—†‡–• Šƒ˜‡ ƒ ‘’’‘”–—‹–›

Ͷ͸
–‘ ‡š’‡”‹‡ ‡ •‘Ž‹†Ž›Ǧ‰”‘—†‡† •— ‡••Ǥ Šƒ– ”‡ƒ‹• ƒ “—‡•–‹‘ –‘ „‡ ƒ•™‡”‡†
„› ˆ—”–Š‡” ”‡•‡ƒ” Š ƒ”‡ –Š‡ ”‡ƒ•‘• ™Š› •–—†‡–• ™Š‘ ™‡– –Š”‘—‰Š ‘”‡ ‘” Ž‡••
–Š‡ •ƒ‡ ‘” ˜‡”› •‹‹Žƒ” Žƒ‰—ƒ‰‡ ’”‘‰”ƒ‡• ‹ –Š‡‹” ‡Ž‡‡–ƒ”› ƒ† •‡ ‘†ƒ”›
• Š‘‘Ž• †‡‘•–”ƒ–‡ •— Š ‰”‡ƒ– †‹ˆˆ‡”‡ ‡• ‹ –Š‡‹” Žƒ‰—ƒ‰‡ ‘’‡–‡ ‡ ™Š‡
–Š‡› ”‡ƒ Š –Š‡ —‹˜‡”•‹–›Ǥ – ƒ› „‡ ŠƒŽŽ‡‰‹‰ –‘ –‡ƒ Š ‹š‡†Ǧƒ„‹Ž‹–› Žƒ••‡•ǡ „—–ǡ
™‹–Š‹ –Š‡ ‡†— ƒ–‹‘ƒŽ •›•–‡ǡ ™‡ ‡‡† –‘ ƒ• ™Šƒ– ’”‘†— ‡• –Š‡•‡ ‹‡“—ƒŽ‹–‹‡•Ǥ

‡•‘—” ‡•
ĔđĊĒĆēǡ Ǥ ȋʹͲͲͷȌ ‘–‹‘ƒŽ ‹–‡ŽŽ‹‰‡ ‡Ǥ ‡™ ‘”ǣ ƒ–ƒ ‡ŽŽǡ ͵͵ȂͶͷǡ ͹ͻȂͻͷǤ
ėĎĈĊǡ Ǥ ƭ ėĊĊēĆēǡ Ǥ ȋʹͲͲͺȌǤ —”•‹‰ ͸Ǥ šˆ‘”†ǣ ǡ ͳͳǤ
ĔDž ėēĞĊĎǡ Ǥ ȋʹͲͲͳȌ ‘–‹˜ƒ–‹‘ƒŽ •–”ƒ–‡‰‹‡• ‹ –Š‡ Žƒ‰—ƒ‰‡ Žƒ••”‘‘Ǥ ƒ„”‹†‰‡ǣ ƒ„”‹†‰‡ ‹˜‡”•‹–›
”‡••ǡ ͶͲȂͶ͸Ǥ
ĎēĉđĊĞǡ Ǥ Ǥǡ ƭ ĔĔĕĊėǡ Ǥ Ǥ ȋͳͻͻ͵Ȍ ‘ —• ‘ˆ ‘–”‘Ž ƒ† ƒ ƒ†‡‹ ƒ Š‹‡˜‡‡–ǣ ƒ Ž‹–‡”ƒ–—”‡ ”‡˜‹‡™Ǥ
‘—”ƒŽ ‘ˆ ‡”•‘ƒŽ‹–› ƒ† ‘ ‹ƒŽ •› Š‘Ž‘‰›ǡ ͶͶȋʹȌǡ ͶͳͻȂʹ͹ǡ ‹ ‹ŽŽ‹ƒ•ǡ Ǥ Ƭ —”†‡ǡ Ǥ Ǥ ȋͳͻͻ͹ȌǤ
ĆėĒĊėǡ Ǥ ȋʹͲͳͷȌǤ Š‡ ’”ƒ –‹ ‡ ‘ˆ ‰Ž‹•Š Žƒ‰—ƒ‰‡ –‡ƒ Š‹‰Ǥ ƒ”Ž‘™ǣ ‡ƒ”•‘ †— ƒ–‹‘ ‹‹–‡†ǡ ͺ͸ȂͻͶǡ
ͳ͹͹ȂͳͺͲǤ
ĎČčęćĔĜēǡ Ǥ ƭ ĕĆĉĆǡ Ǥ ȋʹͲͳ͵Ȍ ‘™ Žƒ‰—ƒ‰‡• ƒ”‡ Ž‡ƒ”–Ǥ šˆ‘”†ǣ šˆ‘”† ‹˜‡”•‹–› ”‡••ǡ ͹͹ȂͻʹǤ
ĈĊĆĈčĎĊǡ Ǥ Ǥ ȋͳͻͷͳǡ ͳͻͻͻȌ  ‡ƒ Š‹‡ǯ• –‡ƒ Š‹‰ –‹’•Ǥ ‡Ž‘–ǡ ǣ ƒ†•™‘”–Šǡ ‡‰ƒ‰‡ ‡ƒ”‹‰ǡ ‹
‡‹‡”ǡ Ǥ ȋʹͲͲͺȌ ‘—” –‡ƒ Š‹‰ ƒš‹• –Šƒ– ‡†—”‡Ǥ ˜ƒ‹Žƒ„Ž‡ ƒ– Š––’•ǣȀȀ™™™Ǥˆƒ —Ž–›ˆ‘ —•Ǥ ‘Ȁ
ƒ”–‹ Ž‡•Ȁ’Š‹Ž‘•‘’Š›Ǧ‘ˆǦ–‡ƒ Š‹‰Ǧˆ‘—”Ǧ–‡ƒ Š‹‰Ǧƒš‹•Ǧ–Šƒ–Ǧ‡†—”‡Ȁ
ėǡ Ǥ ȋʹͲͳ͸ȌǤ ‡› ”ǯ• ͷͶͶ ‡ƒ Š‹‰ ‹’•Ǥ ƒ„”‹†‰‡ǣ ƒ„”‹†‰‡ ‹˜‡”•‹–› ”‡••ǡ ͶͺȂͷͲǤ
ėǡ Ǥ ȋʹͲͳʹȌǤ  ‘—”•‡ ‹ ‰Ž‹•Š Žƒ‰—ƒ‰‡ –‡ƒ Š‹‰Ǥ ƒ„”‹†‰‡ǣ ƒ„”‹†‰‡ ‹˜‡”•‹–› ”‡••ǡ ͷͶȂͷͷǡ ʹ͹ʹȂ
ʹͺʹǤ
ėĔĉėĔĒĔĚǡ Ǥ ƭ đĆēĉċĎĊđĉǡ Ǥ ȋʹͲͲ͹ȌǤ ‡ƒŽ‹‰ ™‹–Š †‹ˆϔ‹ —Ž–‹‡•Ǥ ‘Ž—–‹‘•ǡ •–”ƒ–‡‰‹‡• ƒ† •—‰‰‡•–‹‘• ˆ‘”
•— ‡••ˆ—Ž –‡ƒ Š‹‰Ǥ ‡ƒ•Žƒ‡ǣ ‡Ž–ƒ —„Ž‹•Š‹‰ǡ ͷ͹Ȃͺ͹Ǥ
ĈėĎěĊēĊėǡ Ǥ ȋʹͲͳʹȌǤ Žƒ••”‘‘ ƒƒ‰‡‡– –‡ Š‹“—‡•Ǥ ƒ„”‹†‰‡ǣ ƒ„”‹†‰‡ ‹˜‡”•‹–› ”‡••ǡ ͺͺȂͻ͸ǡ
ͳͻͻȂʹʹ͵Ǥ
ĊĞĒĔĚėǡ Ǥ ƭ ĔĕĔěĆǡ Ǥ ȋʹͲͲͷȌ ͽͶͶ Žƒ••”‘‘ ƒ –‹˜‹–‹‡•Ǥ ‘†‘ǣ ƒ ‹ŽŽƒ †— ƒ–‹‘ǡ ͳͲ͹
ĎĊČđĔěĆƴ ǡ Ǥ ȋʹͲͳͻȌ ‘‡ 捑ŽÀ —†›Ǥ ”ƒŠƒǣ ”ƒ†ƒ —„Ž‹•Š‹‰ǡ ͸ʹȂ͸͵
ĊđĎƴēĔěĆƴ ǡ Ǥ ƭ ėĔĘĘĊēǡ Ǥ ȋʹͲͳ͵ȌǤ ‰Ž‹•Š ˆ‘” ‡†‹ ƒŽ ’”‘ˆ‡••‹‘• ͸Ǥ Žœ‡Ƽ ǣ ƒƴ ’ƒ†‘ Ƽ ‡•ƒƴ ‹˜‡”œ‹–ƒ ˜ Žœ‹ǡ
ͳͳ
ĊēĉĊēǡ ǡ ƭ ĚćĎēǡ Ǥ ȋͳͻͺ͹Ȍ ‡ƒ”‡” •–”ƒ–‡‰‹‡• ‹ Žƒ‰—ƒ‰‡ Ž‡ƒ”‹‰Ǥ ‘†‘ǣ ”‡–‹ ‡ ƒŽŽ –‡”ƒ–‹‘ƒŽǡ
ʹ͵ȂʹͻǤ
ĊĘęǡ Ǥ ȋʹͲͳͲȌǤ •’‹”‡† ‰Ž‹•Š –‡ƒ Š‹‰Ǥ  ’”ƒ –‹ ƒŽ ‰—‹†‡ ˆ‘” –‡ƒ Š‡”•Ǥ ‡™ ‘”ǣ ‘–‹—— –‡”ƒǦ
–‹‘ƒŽ —„Ž‹•Š‹‰ ”‘—’ǡ ͳ͸Ȃͳ͹Ǥ
ĎđđĎĆĒĘǡ Ǥ ƭ ĚėĉĊēǡ Ǥ Ǥ ȋͳͻͻ͹Ȍ •› Š‘Ž‘‰› ˆ‘” Žƒ‰—ƒ‰‡ –‡ƒ Š‡”•Ǥ ƒ„”‹†‰‡ǣ ƒ„”‹†‰‡ ‹˜‡”•‹–›
”‡••ǡ ͸ͷȂ͹ͺǡ ͳͲͳȂͳͲ͵ǡ ͳʹͳȂͳʹ͹Ǥ

Ͷ͹
—–Š‘”•
‰”Ǥ ƒ”‹‡ ƒŒ‡”‘˜žǡ ‡Ǧƒ‹Žǣ ƒƒŒ‡”̷—Œ’Ǥœ —Ǥ œǡ ‹˜‡”•‹–› ‘ˆ ‡•– ‘Š‡‹ƒǡ •–‹–—–‡ ‘ˆ ’’Ž‹‡† ƒǦ
‰—ƒ‰‡ –—†‹‡•Ǥ
Š‡ ‹• ƒ  ‹•–”— –‘” ™‹–Š ‡š–‡•‹˜‡ –‡ƒ Š‹‰ ‡š’‡”‹‡ ‡ ‹ –Š‡ ƒ —Ž–› ‘ˆ ‡ƒŽ–Š ƒ”‡ –—†‹‡• ȋ Ȍ ƒ–
Ǣ ƒ• –Š‡ ‰—ƒ”ƒ–‘” ‘ˆ –Š‡  ‰Ž‹•Š ‘—”•‡•ǡ •Š‡ †‡•‹‰• —””‹ —Žƒ ƒ† ’ƒ”–‹ ‹’ƒ–‡• ‹ –Š‡ ’”‘†— –‹‘
‘ˆ –‡ƒ Š‹‰ ƒ† –‡•–‹‰ ƒ–‡”‹ƒŽ•Ǥ
‰”Ǥ ƒ”–Ï‘‹‡Œ ”ׄχ™•‹ǡ ‡Ǧƒ‹Žǣ „™”‘„Ž‡™̷—Œ’Ǥœ —Ǥ œǡ ‹˜‡”•‹–› ‘ˆ ‡•– ‘Š‡‹ƒǡ •–‹–—–‡ ‘ˆ
’’Ž‹‡† ƒ‰—ƒ‰‡ –—†‹‡•
‡ ‰”ƒ†—ƒ–‡† ˆ”‘ ƒœ‹‹‡”œ ‹‡Ž‹ ‹˜‡”•‹–› ‹ ›†‰‘•œ œǡ ‘Žƒ†Ǥ ‡ ™‘”• ƒ• ƒ  Ž‡ –—”‡” ˆ‘ —•‹‰
ƒ‹Ž› ‘ ‡†‹ ƒŽ ‰Ž‹•Š ƒ† ‰Ž‹•Š ˆ‘” ‡ Šƒ‹ ƒŽ ‰‹‡‡”‹‰Ǥ ‹• ƒ‹ ”‡•‡ƒ” Š ‹–‡”‡•– ‹• –‡ƒ Š‹‰
‡–Š‘†‘Ž‘‰›Ǥ

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