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
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
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/01+
%,-0
+  2+
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
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%"
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
7   8 0% +0. 2 /'0 .&
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',-+'?&?&+"
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.&'29;"
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&;%&@&:AA'0.8"!!0"3."8.&
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+%,-"
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"!4!5090-6!4!5092168.&.'C'D3
!"8.&'2D*!!""8.&+E@&/+!&+1!'+FD4!
"  35 !"8 0/+  0+8 !G+ '0.9+ + 9+
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+0.@' '&9  +C'  +%A'0.D "" 7!8 .&
/& 9+.& 0 - %&D !&!."  48& "!
!!"$%8.&++3&<,-0B%D+!%'@++'
 8 *  0"8 .& +.3&D  "5 4! 5
8
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 !08 /,  !", &! "!**'! !9&
&!/3&$+8.&+%3+4''+3&9"
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
!
6
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/C+  .+88 !',-8 'O'8 ?& ?&+ '+%%8&/ + =%+
'=P+'+;'&%+20Q.%,-&@8%00.&.&
+'   +%3B2 3+&+ '0.N+" + 3&98 +
.;00+ 0+ 0 + 'O'+ 9&++" %3&'+  .4 
JKK(JKKR88B&=%''%&'0.+"&/%0+
+++'O'+ !0 .+0%+ '&N "  80
JKKS" %,-  - '0.& .&+ +%+ &@+8 + 'O'+
9&+++'+%0%0+.,!,9430=%%'B%/
+ +&4+' 0@'  +% 3  '0  E&2<F =%
''<  /C  E'8 +0 /+ .+>+F8 '0 .0
&/%+.%'+1'+=%+'0+%++/C#8
'O'"
&2+'92 ?&?&+D'O'DB&+0&@"

7
4
?& ?&+ 5HI8 JKL) : 0.+8 ())M6 +  ! 9 0+ 0.
.+2+!<&'0.T&%"/2&&/+ .T8
!'8 '9'&8 .&T8 ?& ?&+ 9 .% %.  U .0 ! <&
'0.T +'T  +%3B'2T 9%/9% &0+ !!T T+ ;'&%+2&T
'  &T .%'"  9+ ..8 U &V  9 $
'9'&+" 9T U .%3&+9 !0 JKK(  JKKR8   .%&8 
U+..''%&/0.+8-%&"0!9+U&.%3&+9
9'&&' JKKS"9$'9'&+8T/29
..&T+%+8V+9.3&9T3+.' 
U9'9 9%9 'B%/+9+T&+'+T 90! 9 .2%+UV
U9 9 E++F 9 '9'<+ 9 / ' +  3 E28
%.%+F83T+0!9!U''+U9+%9+%%&/:
9'9'&"
WTU+ ?&?&+D'9'&D&TB%&+0"
8
%:

%,-""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""J)
J"@+?&++ 83X'.,-4'""""""""""""""""""""""""""""""""""""""""""""()
J"J"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""(R
J"(0%/""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""L(
J"L&%; &/%/0'0'("""""""""""""""""""""""""""""""""""""""""""""LR
("%0. '%++O'+&G'%&YY
YY""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""RL
("J+01+0.++&""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""RM
("(%/00.++&""""""""""""""""""""""""""""""""""""""""""""""""RS
("L2+Z/%+"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""[L
("L"J3%,-O''9"""""""""""""""""""""""""""""""""""""""""""""""""""[R
("M&2'G'%&YY""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""*J
("M"J++R)+S) ++%+O'&N'
+,>+"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""*M
("RO'80)*)@5\6""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""S)
L"+'O'?&?&+"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""S[
L"J/%,"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""S*
L"(0""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""J)M
L"L+, +?&+"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""JJS
L"M+%,-%0B@""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""J(M
L"R'$ %3&',-"  """"""""""""""""""""""""""""""""""""JLJ
+,>++"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""JL[
3&/!""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""JLK
;5O'+'&/+.&6""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""JMS
;5O'+.%3&'+6""""""""""""""""""""""""""""""""""""""""""""""""""""""JR[
;5%+'+&+'++'O'+6"""""""""""""""""""""""""""""""""""""""""""""""""JKM
;5+&+.%3&'+6""""""""""""""""""""""""""""""""""""""()J
.C'""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""()*
9
E7+2<+80./%0.=%C%
..&+.++'+09+
!',>+80%809.+8'0/+
'++.'&+%+"
..&09.1.+&2,-"
++%0.0 
-!!!.
/0!F
?&?&+
E9%0!+0.%0!'+&%0!+
'+'9';.&'@2&F
W90
E+O'+0+'!&++%3&08+;/+4'%&+
.+&+2-+0&/+F
&0HVG&G2'9
10
%;<
++ ..+  .+=%+ '+  +%  .%,-
'4+'+'.%&+?&?&+8=%2JKK(JKKR"0+
'08=*+'&++&0++G'+80@'++%%+=%
'!0=%&4+'+++;+".@&+83%+'0+!&
0 =% 0 +++ 'O'+ 2&0  .B +G'  ?& ?&+8 '%B+
''4+'+ 0.00&9 ;.++2  ';  &% 3+&
'0.N",(/"=%@++@&+G=%8'@
=%+/C+&@+!'0+.!&'O' %0;
&28'8E+'0.0++F5 JKK(8JR68'O'9&+-
30-%0',-!8'%8'3''+%,-
%0.B&@"
 .B '& + .+=%+ 9 '0 3B2 +2&2
%0 +% +3  .%,- '4+'  +' ?& ?&+ '&  &2
"&" > 9&"
" G08  '0,0+  +% &4' ++ 0&8
.'30+  ;+C'  &/%+ 9+  0 '&1/' + ;+ =%
/0 '&N8 ! =% + '%+% +908 .+ Q G.' 
&,0&2'4'+.'&<2%&/%'0%0!?&'(
 .4 0 =%  % 92 '3%4 .  B&  =%& + 'O'+
20+%.0.,-"
0  ,-  2+/0+  & 02 +++
+.,0+  %0 'O'  %8 B@ =% .%3&',- /& + 2
+0&08 +&20+ '+%&  1/- =% G0  '2  +'"
11
++08.40 ())[8&<0+.++.+=%+B%
'%0,-%&%&&;%&@&:81/-=%/
+%+%+/%/0:'0.=%'+2
"
 ++ +%.+8  I0  'O'+ %+  '&N
"  8=%G+++;+&8-.++=%0
.%,-'4+'%"G00++'+%&8+++
;++020%0080%+'+&+'+8'
+ 5JL*6 'O'+8 + 3 . .%3&' 0 B&  &/%0+ G+" 
G.'  ++ .+=%+8 '0  '2  ?& ?&+  +2 +
'&/.%0=%.=%.+=%++8'.&33&'@
+<0+C++%+8I0JL*'O'+%0.'&G
=%&00"/%+<8+.+@2&.&8+
0%.2@2&=%G!&+3&9+I0%&.++++JR)'O'+"
 ++ 2 9<8 ++ .B '& 2 =% +
0!'8.+-.40++0.&+0/=%&.=%
'&N!<."/8'0++20&00-+83/0'&
=%9240+..++2&2.!'0+'8%02<=%
'B%+'O'+.++%+'.Q.+=%+"
%!'8!&9.@28+++3B2+03G0+
&/0"=%&+G'+++;+8.'.&08'C'
'0  +  3 9&+8 !0+ &2+ :  #+ :  .+8 0
N030+0.&&@8.1.''<,-/&1/''O'
.80+/%8+.;00++'O'+?&?&+"
12
'    JKK(8  .  '2  '9! 
   0.+8  .%,- '4+'  ?& ?&+ +%/% 0 %0
000=%%B@92+'/.+%38%+B80%0
00  .& 0%'0 4+'" +' '+/ .& '4'8
++ .4 ?& ?&+ + ..2 .  3 =% & '+2 +%
+.&@80'1!2!
% C+ +8  %  3+ .&C0'+ '0 3 
44#% /3#$0!%+''0.+'0
+%+ 'O'+ @'+8 +.%+" 0 +% +& =% ;% + .%'+
+9+'0.++'3&0.G"+!0%,-.'
, da noite para o dia, %0'0.  3&9   +',-    1
%023%&2+'!20+!++0&+
3+'+%0+'0.+++&+@2+.%02<+00Q
9.'+=%++&2.4+"
%+Q.88!+'4'O000-+
+83%+'+0.+G''%++0.'+!0"
;&@G8.;'&C'8&%/;.0,-2+!0+<8
.!@2&8+.;0'/+'42&"+.&2+&
9+83&9E;.0;.042&F"%=%&+2+%&<8
- .+ .+"  ; &@8 E .&2 ++%0 %0 !0 /G'8
+%0'/".&2G++0%03B+.8%0';
+02++2%&+&/%/0F59+ ()))68
% +B8 '0   .G'  +0.&+ .&2 + .&2 .98  =%&
30 2@+ .++3&+ +/!'2+" &8.&28;./3% Q
13
!'&%00%08.+-+@0++2,%,-
&80+'+%,-%0.++3&&"
.+3B2&/%/0!'&+,>+
B&4+'+:.02'O':&30&&2+%3B2
'2 &@8 ++ &%/+@'+"!%+. 2<+ '0
%++'%++,-%0B&8'+!'+8.G08
'%&+8'&%+'0+"0&%'!++:03G0
'+:!!+0]5())) ()L68=%&+C+.!+++
+ +.'&<0 0 0+ 0+  .&4'8
'08 !%3&8 !0@'8 '"  &C&+  & =%
+8!0,-,-"+-0+
.%8=%.0 +%+09-"&+C0%0
3/,-  + %+" &%+8 '%&+ '0+
.082%&083+ Q +%3B2&@80+
++G%0.=%+2=%&+&/'/0"
'+8.G08-+@&9+''0+=%'90
+ .@/+ + @+  4'+" & '@8 G ;0 &@ =% & 3%+'
0G.+%+'%"289@%0+%3+'&!,!0'0%0
++%+@.%0'+"!0'0+
%'&%+8&&3+%&/%/0&080.0&9!0+&
+.'4!'+"^&9.0!&0.0.++8++%0%0E%F=%0.
'0!0&8G0+0!<8+@+4'+"+'&,>+
3&++3%@+8'0%0!&.@&0&=%0.+!&8+322
'++.@/++/+@+"+.&2+&+?T8
14
'+80 0 09!0,>+8+ +2,+8%<+
%0.=%+.,&E+0F%0++%8E+0F%0!0,-8'++1
0!'E+%+&0++!+'=%+1+@.'.0+
&+-.&0++'+%0B&%2+F"
+8.!,-80.:$5'O':20
0=%2/G2'%&8'O'.''0!+0+"
=%0+'28%0;'4'%.&G0.+.000.& 
+!!&903'=%9@+.'9+'0
' ,-8   +/%  0 +&4+'   040 +., =% &9 G
+8&.0@;0+%;.=%0+3+322+%0.
++02/++%$"
++ +  'O' 9&+ .' + &3 
.+, =%& 2" % .+0 0 &28  '4+' 
?&+0+%=%&+G'+%.%+%00.0.,-"0
'+N' '0 +% .B &@8  % - 3% 0-  +% +&
3'9O'++%+E0+F0+%+'O'+"&.+%
&2<9+02.&+''%+N'+0=%?&2'3%'0
B&"+'2.++'O'+%&%
8 ?& ?&+ -  %0 +' '8 .& '@ B@ 92 +
'+//+'"
9'.%0.+40.+&+3+&+8?&+03G0
%+%0+%'%+-.&'O'"C943!,.;'&C'8
'O' ! .  +'8 +  %8 %0 .</0  %0 .'++ 
!,-  + '0  .I3&'" 0 !0  +'8 0/  %8
15
%+8+'O'+E'3%40.!%0.=%&0.&+++%
&/%/08'+/%++%0+.B0'/02B@2+&/%/0"
&0_!&]+3%F5!"2+0;6"&G0'3%,-.
+% +'% ..' .& ;.C'  'O'8 ?? +%3 .2 
%< +., =% &9  ''  B&  +!0@& %0 /
2 . +% 0%&!' 38 / ++0 %0 .I3&' 0 =% 
.=%+G=P=%'+%00&9'0.92+.%3&',>++&2+"
0 &/%+ .0+  % !0% + %0 ;'4'
.<+8+'2'O'+"2+0%'0+;+=%+'2
03G0 '0  .'%++- '+/%  + &+" 0. =% .8
+. + + '+ 2+ Q ,-   8 %0  %0 
.1. .%9" + 0,+ =% '3  + ;.%&+  +% '9@'8 -
020"%!,+8+0+/%+20+!.2'"
02+=%'2%0+0.&+'+%0&'%.
&/+3+++.++0+%+;+"0&/%0+.%3&',>+8+%+
'O'+0 &%++ '0 /2%+  + H" &8  =% !< 0.& 
0' + ;+8 .+ + /2%+ 90 ! ;.++2 '0
!&%C',+'%3++"
0 0+  JKKR8  ;'4' .<+  +'2 'O'+
92+%03/,-+0&%8=%B@9'.'++
'2  +% I&0 0'8 1 ! 2 8 2%+ 3/  ; 
'O'.0/%&9%2+0&./+"
16
+0 . + +'+++ 0+  +% .%,-
4+'8 ?& ?&+ '% 3 0-  ' '0    . +
';'&%+20Q+'%0'=%++%+.&@"
.+/@2&=%&+G''B%39&+8
-9@%0!%'4'=%3=%++&/&@"&2<.+
'8++%+'C0'++3?&?&+-+00%+<+
3&9+0/!+8++,>+++"
J
 0 0 ++ &'% +3  .%,- '4'  3
9&+8'0+++++%+8+.0''0;?&
?&+ 0 0+  ()))8 '0  ,-  .!%0+ &/%+ 0+ =%
!0 + 0 ++ 0/! .+  ''&%+-  '%+ 
'9&0+A4'@++%,-5 ())M6"
%  .'++  &3,-  .B . + .+=%+8
&20+0'+,-&/%0+=%+>+=%!0'+2+.+'&9+
'O'+'0++
&("
8+38'0%0%-'0.&;'0?&
?&+  + +0.9 +'2 %0 /C 0+ &2 '0  'O'\
?2 ' &/%0 /',- !0&A+&4+'   0'+ 
'+\0+'.,-+++'O'+.&/.I3&'8%02<
=%3?&8G-8'+%0.%0.=%/%.&+\
&G0++++.'+./0@'+.%,-'.,-+'O'+9&++8
%!!+%3+'&.0.%&++++'&9 +0.B"
1
/%+!0033&/!'4'+3?&?&++.3&<+,>+3#
.%3&'.&&3'++"
17
++!'%-92+'0.&.%0+%0+2'&8
'%9'C0'"4&2N'.+.+=%+"
!8.++0+Q0&/"+'%++-0
%00G+.'4!'+''<.&'+++3&'%0'B%
.'0+''0.3&03B2.+=%+"+'&9%0
0G =% 0.&' .'3 + '+++  3B 2+/"
.0+8++08.&,-%0+#8%+B8%00G
=%++2&/.'++.+=%+"++.+.'28+.0+
+%&+0+'+8+%.+0.2+42+.+=%+"0;.&'
5JKS[ J(68
3&9%20%208.
3B.+=%++.=%&+%0+.,.
'+8..++42&8.+'30"`"""a
&/8  3&9 . '0.,-8 .0 %0 &
'2 '.<  +%.8  3B .+=%+8 
0.2+=%&0.+=%+&9.0'
22&9%+!02&902"
'0+8 .+8 =%  0G & + +3&'  .1.
.'++  .+=%+8 . 0  ,-   +& 1'   3B"
+  2& '03,>+8 &',0+ %0 .'0 0&1/'
=% !2'  ',-  %0 .% '4' 28 +/%&  =% '+/%
3'+.'%&+3B8&'03+25."'"68E0G
3B!&+8'208+'3+F"
18
++ .+=%+ + +%% 3+'0 0   @&+ 
.%,-'4+'+'?&?&+8.++@&++-2'+
!&;>+ 1'+"'%0++%+E''+F:!,-.1.?&:8
0!&%;+'%+2=%+''<8.!00+B%@&+
2+&%030+%0"
+ !08 +%%0+  .+=%+ 0 C+ 00+" 
.08!.""!"@A-8>&(1?9&8+%%
 +% 3  .0 &@ '&  .+ %0 &20 '4'
333&/@!'" ++ ,- 03G0 ++ 00  3&9 G 
2'%0B12',-&@0I&.&+8.G0'+8%0
Q'+%,-%0%+.B4+'8=%!%.!''.,-
&%.&3+&'0.N"+/%008
'(@&"B!&!4""5&CCCC-
+@ ' %0 2+- 33&/@!' +3  /C 'O'  +&"
+2&20+8%032.&=%'.%,-'4+'3+&
+G'%& YY  YY8 %0 @&+ +3  E'&0,-F8 +2&20 
'+&,-  'O'  . + +'+ 3+&+"  .'.& 3B2
++.09+1'&@G!'+.++%.+++G'
!0+=%.++0'+%+.+%&+1'+''/C'O'
&%3+&"!08'008"&B!&
"8+@++%.+=%+8.%,-'4+'?&
?&+83/0+@'.+0+'+=%&00
39&+8+38!%+-+/.!83A&,-8
0+G9%08+',90089.'+'%.,-=%/0+
19
&,>+.+++8'+%0+08+A+'@8'"&G0+++0+8
0+''%&%&8%0.+.'+@+%+'O'+9&++8
++%%0+'%+02=%=%++&0++/C+
&@+  2' . + %0 /& 2" 0+ '0 
.'++&4'+-+.0+1'+80+.'&=%&+!+
=%+>+/&1/'+'O'&@"
%+'0+8 ++08 '0.& + .'.+ +.'+  'O'
9&+8 . =% + .++ '09 . + +,>+ +8  +
=%&+39&+8=%&++0+%.%,-'4+'8+B00
&20+0<-.&=%&G2@&2'+.,?&?&+
 + /+ 0+  % +& =% '3%40 . 
'+&,- ++ /C &@8 '+ . %+ '0 %'0
3+&8O'"
++&0+ =% %0 3 '0 09 .&%&  =%+>+
0@'+  .'0+ +&4+'+ B0+ + +/ 0 %0 I' @&+"
0+'C'8%++080.++3&3'++.++3&+
@&+ ++ &3 " 40+ /C%+  /+ + & 0.
2+&%03++ =%+=% &+0+8 2  /8 %+" 8 ++
.+=%+G.+%0+2@+'09+.&%0!'8=%
''<'0%0...!%%+%+&%+"++8++08
9%0&++ .=%'3%,-.!%'4'=%+@.+
!<&/N'+0.&'/+3?&+"
20
D:@A-4>;<E
0'=P+'+;'&%+20Q+'&@8
B10%&9+'?&?&+!%0;0.&3+,-
&% @ .  '+%,-  %0 %+ .B &@" @+ !0 +
.'%++0+ .+880'+82&+8'+8'O'+"""+&+
'0%03B2' %0+3&9'0&/%/0!0&2@&%0
& 42& +G'" ^ ++ @% .'%+8 !  +'&9+  '%++8 =%
0+,+.1;0+.@/+8'03B2+%%+%3
';&@'&'0.N"
+'+(K3&JKL)80HI8-%&8
?&&0?&+!I'!&9'+&!0.&!<
'!G8.8B&++4+.&&0?&+.&0/
.%/%+'&<+"%'0..1++'0?&8+%+
.+++.0?&.++22'0+%0-'+"
&/%0 0. .+8 ?& G 0'%& '0  
&G/  '&8  '.& .%&+" %  +8  .=% ?&
!'%+&0%=%&8'3+.'02++
+%0-"++;.C''02!'0'0+%.+&"
'242'0+&/+++2&2%!!&%C''+-08=%.
%00.+B%++"-G++98.+8.+,'2+8
0-+8+/2+02@+2++'"
 .8 =% B@ 0+2 + +0+ /%+  %0
+=%<!8 ! '! +   '' + %0 '&4' .+=%@' 
21
.%'+2<++%"20.8?&.%''2
'0!/%."0/0.8=%+'+%40+%00182
+9+1+&+.+%0-%.&+;+=%+%..%3&'20B+
HI8'-%&&+%%+G'+()
L)8  =%  0 ?& & '0 2'8 .+ 0  I' .;0,-
.++42&'0%0./%.+&03,"+;+=%.&?&+
+'2 08 0 +% / 08 .0+ =% 320 !=P0
=%+>+'0;+C'08
/6(!
7

8
9
+++;+80'+'+>+80.%3&'+'0.+%O0%4+%0"
+ <+++ +8 ?&8 %0 + + '+ =% 2
'0+%..+'+'8!'%.%3'0%0!=%&9' 
b%'9/%&@8&.%09'8%
" /%% + &/%G0 9  0 '3  "
%  +.% =% & 9  0 '3" % .
!'%0%/++2'0+0-+8.=%&+-90
 0 '3" % !=% 20&9 0+8  0%
B2<9"+'0/0%.!"20
+2'!G09-"7+2<+8./2090-8'9
=%0'!%'0090-8-<.%
C+ +  0 . &"  %0 '+ 42&8
'+/" % !'2 0  2/98 +0 B8
(
?8.&"/6(!+"";.%3&'0;,-+
4&+%&&+'?&?&+"
22
0/"E1C++0F8&."E1C++
 0F8 & 0.&2" % !'2 0% .&9 '0
%++"
L

;.C'=%!'0'0+%001.+0.8
09+.+%2+%0B20=%!%'20%0
!+=%9+.,%02++
% '92 & =%&+ +1+ =% + 0-+ '20 
G.'"++'!4'+04+"""9%0
=% 0 '902 3+ ,-    +1  %0
0%&9 =% 33  @/% + &.++  =% .+ 2%
+"%'92&80+02%00@%++1
0/'c48%++&'.20
'.++2+@%++"
M
+&%'02'Q+8?&8'+&9
.+%0-8/+++<+'%+'%&/
- '+'8 0 - %&" ++ .48 B20 ?& B@ 92 !;
+C'%0'!@2&.0Q&0+8'0.9 %0
/2 &0-8  8 =%  +.  .+/0 % 8 
/2&0-&2!.-8.++%02
/3C08.+02,.+'.%&+"
.+ + '0@+ =% 2&20 +% 08 ?& G
+'&9+&%+'%&.+'%++%8
&,02&28=%&=%++%00/.28
L
'9 2+ '' . ?&?&+ +  4& +%
&&+8S8<8JKKK"+.1;0+',>++.%3&',-+@!%++/&4&"
M
2+%.&0%&%&036#"Y"%8JKKR"."J)J("
23
+'T//%+&&+".+,0'?&0.++G
90/8'0&T/ 
% 0 &038 +2 '%<  3& '4& &+
5%+2%0%3/8+&6.'3'
0+=%0.'%%0B200%&%!8
+/+&9+2+'0%0;.++-'"b%+
/" 0 '' 9B8 0 .%'+ + &%+ 
28++%0&%28+00=%/0
'0 + &/+ '3&+ %+ .++  %' . %0
&/!2&"++'0+0.&'".+%+ d%
?&?&+8."0+%@&00++'0
 /  - '+'d" 3' '0 '&" d9
'&/cd8%++8&+%"b%+&2%83+
0' . !<  +% 0.2+8 '%0 
.  .G' 0/0  9+ &'  %0 0
0  2'8 =%& .& %0   0%
'%&2.&+!+"
R
 !&9  !<   0/ .%/%+8 ?& 
&0?&+892!'.@++8+0;',-80+%<+
.& 0/0  3& B20 =%8 =%&   +&  '9@  4: ,8
90/2+'T//%+&&+"++0+%/0&'%&
!/%?&?&+"
%0 3&< ;%38 &/  %+.+%
G.'8 ?&9 '+/ %0'03,-  3%+=% +.!%+2+
.;>+00.+@+8.+++"0&/'2+'0
R
'9.0.T//%+&&++4&"
24
%0' +3  '0.N .%,- &@ !0  +&8?&
!&%+3++.4'%3+%2 
 ++0  =% B208 % 9 %0 2 0%
%0%&%8%3%&"+20%+0,>+"+2
0.;0%+2<+5%0.;0%4++0+
2<+6" +2  2B8 +++ '++  =%  0%
/+"+8482!!'-020.D
''0+0+.+++c=%%0.;2
0%8 0+8 .+8 0 +.;2"  %0 '+
+9" 7+ 2<+  .++ 0 2  <  E.%;8 %
'0%&9092F"%.++++
'++=%1+<0++ E%080%30F":E^
.+0.\F:E^"+0."F:E^G0\F:E^"
G0F"+8-''&/%0'+=%40'0
00" % 8 %0'08 !' +9" -
'+'<=%E'.G++0-3%FD&+B
%0 '+ 8 .+8 +B %"  '%+ ++
'+N'098+'++0!'0%0@'+ 
2@+.+++=%0008942&"-&/
=%!<.!.++D&/0.++42&0+0
0"
[
;>+8+%,-8&/C'%0!.+&+0
+&0+=%B%+'+%0%0;.&+2.+&"++21'
+0++%/B20+'"
[
.04/?&?&+8++0'0'I'!'&
.%3&',-?8&&T"`&"a+"-%& D& =%2
%'.&8JKSK".JM*"+.1;0+!C'+!++.0%+0++/&??
"
25
DD
;*+
$6!
2$#!
#$;#6$!
7<)6!
3#!
1!
?&?&++!
0JKR)8?&?&++G+%'&@'02&%0
 .0+ +"  (# &@  ?& 0.++% .%'+8  &+
H/  0  '4& &+" +8  '9'  % + 2++ =% 
0.++:+=5+5#5#5
5#=0:8++&98%++0'0
+ E=%0++++8.'+<0+cF"B20+'&2'+&9
+G 3.0++'3'9&0:0JKRM80+
 +'1  2'' 0+ ''  + 3'9G+ ++  -
%&8/#:.+++'Q%"
  L  <03  0+0   &,0 
+8 G/ %=%  ?& .%3&'  B& 0  %0 '4'
. &/%+ +.'+  &4' 9&+" 0 %0 @&+ 0%  Q
+;.+8'4'&/!'&%&&/%/0
0./.&.3+2%00;.0&+.+9&+8'%
'0 =% & C'  ;.0&+0 +2  .2 '+' 
-  E+/2  ;.++-   !0F 5?  JKKS6"  
26
+/%8=%&,0&/8+/%&2?&?&+8
G/ %=% '/ + +  ' '0@+ .%' +0.@'+ +
.'0+.G'+%"'4'' +% ; +' +3+
&,>+  ;.0&+0 ,-8 8 0 +/%8 . '0 +
.'0 !&9  =%&+ ++ =%8  &,0 0-  %0 '%+
'&8'30..@&0'9+.=%+
+.',-8..%0_&@]
2 3%+' &8 8 '+ !0+ =% B@ - &9 +-
!0&+%-+%/002@2&=%.+++
- ;+  '2+" 5?  JKKS8 (KM
(KK6
=% +3+2+ .&2+ G/%=%G %0!
'4'+'0.++0&.G'.&%83&8+%
!%"/%'4'80&/82!'+=%!03&-G
%&< !0'.& . =%8 03+B0+300 
'I.G'8+%;.++--+&<0.&"!08.++
%+'4'+8+%+2' E0'+'08+1.++80%F"
% '.,- '4'8 %0 .%' .+  %0 0.++-
0 2&++&8 !   G/ &&" %+ .0+ '+ +3
.+ 9&+ - %&.++0 '&++!',>+ /&<+ + '0 E.+
.!%0!0F8%E2++Q+0@!+F"8%0+.'
0.'9'.&'4'!+/%&',-9&+ 
27
+.+2++&8?&?&+ +%/0'
.&+/.%<"-+'8-!
+ !+ G''+  =%++C' !0& =% - 
'9'0+  0 + +%+ '0.9+  B"
5 JKSJ8(K*KS6
0 + . 8 + 3+2,>+ 0+ 2'+  &&
+3%<0+.&%/'%..&.++%/,-"
0+.'0.=%2+&20'+,-G!=%%+
%+ '0 ?&  0.+  G' / 920 03G0 &,
&2+  0+0 .4  .%3&',-  +8 %0 00 @% 
2/%''+8..+;0.+."8-+
++.%00'9'08..'4'8EG3F=%
B20?&?&+'0+%+.'+++80+8+&,+=%.
2'0+%+'0.N+"++E%+C'!&,-.+'F!'
0+ '& + .&2+  '4' 0 % ; .%3&' . '+- 
.'0'&2.8&JKRR 
?&?&++0.!0%.++&0+%.+"-+
.'%.%B0+0+08.=%%&08+0
+!,8!&%&4/%+%G.'"-9@.++!4'+
 +% 2+8 '0 - 9@ 2+4/+  %+ /,>+"
5 JKSJ8R*RK6
' +3  &'&!0=%  . + +8
&&8.%&8G3+!&<'9''09&9.?&
?&+ +'0+0+0+G.'8.'+%4+&''+%0
28
3'++.%90;=%,-'%'&9/0&@+.+@2&
.& '+/,-     %0 G.' 0 =%  !/0,- 
2++&+0.%"
+0  &/%+ .+ .+2+ ++&+ +++
.0+ '4'+8 ?& ?&+ .' ' + .>+  G/ %=% 8 
/<%0'&N+%.+JK[*8+&2-'&%+%+C+
.0+ &2+" %82   +-&   %.%=% 92
! G -8 . .& +/% &2  0. '0 + .'0+
.+ + '4'+  G/ %=%8 +2&2 %0 !0  ;.++-
3+ .'%&8 '  '90 +.,-  +'+  !'& 
%&!'+'&0.&'4'G.'"++8=%
&28>JKRK8G;0.&++2.+%.G'"
0JKR*8?&?&+''&%'%+8.4
B%9<038'0'+%0+B2+!04&3+8!<
%0 &/ 2/0 .& %.8 .++ .& +.98 ,8 @&  G'"
%+%.++/0.&%.8'9' 0' 8'0
=%00%0@.088+.++.B&+0+8
2  =%  /&-  ?&&TU &  '0 =%0 8 +0
+%'++8%066"
% .%,- &@ '% +% '242 '0  0
&'%&.%&+++!''2<0+"0JK[)8.%3&'2
$8'0.!@'..%/%C+H/=%8
&/%0+&%',>++3.G'9&+8.'3%0!.;0,-'0
29
,- &%+  .+ &4'0+"    JK[J8 ?& &, +% 3
6+0+/%+:"
'0.&LL+8JK[L8&2+.+@2&.&
/0%,2%'9/&9Q+0-+".+0/.
.%/%C+ &+   IB8   1 ?8  +' // V+
W<<V+" .1+  &%  &28 ?& ?&+8 0 . %0 %/C'
;+'&8+&23'%0%&%2+'&/01.&.++
+'/&0Q&%
%&`W<<V+a  !=%+&%03"%0900
=%!'2&%2G0%00
02&9+8 +'2 %0 .0    C+ 0&
2++8 / 7 3(8  &%2 '0  '  '0 
+.4 0." &+B280+00.8++
N+=%.&@" =% %=% N+'0
2"03G0N+'0++02&9+28
/<!4+'83&<!4+'%"%0'+%0+0
0%8 3+&%0 42&8 .=% ! 0% +
.+++" % 0 0.++  '0  '09 ++
9000@2&8=%+&20%0+4
*
"'9=%
&/%.%++3&98+'2"!02&9+"
B%+0+++4=%%8&/+=%&+2+>+
 + 09+ .1.+ 2+   09 /%&  
28.%+'2  =%+'2"'9=% G 2=%8
=%&=%.++=%+B&0!<%0303&98
0=%!' +&80=%0%0+'0" ^
0+ % 0+ %0 2',-" 'C + =% =%& G 
00  =% - 9@ 0% 0." 7+ 2<+8 + .+++
*
&%/=%&+'+!G8'9@''+%4%0/..
+%0-8<=%&O0+0.+8-%&"
30
<0 E%2%=%+20+2&99"%=%%
+2."4%'0,F"+''=%-@0."
-8+C++8!%.+++40G
9B80/%%023&9"5??8.JM*S6
!&%C'V+W<<V+23?&?&+8
'0 .0+ 3+28! '%'&"&G00%,'& 0%2+- 
%8 &/%0+ ''.,>+ !+ .& +' // 2- +2  &''
..'++ '2 ?&"0 +.'&G !/% 2 '.
W<<V+2+002@+.++/+39&+"0/0%0
%+0++'++8=%.'%++.0C'8
.'+  .'.,- 9%08 .'.,-  +% '%8 G ++0& .&
+'
S
" . ++008 %0 %+ E+28 0%  +038&G0 
&/ 8 &G0 +.,F80+00.1' .8@
'0.9.'++'2?&"
&G0++!+.&+'//8.'+
=% +% .1. 9+1  2 ! %0 + 02+ .'.+ .& 0%,
% 0 ?&" 0 .!@' Q ,-    1 ?
K
8 ?& W<<V+
S
++''.,-2G!0/<08.%3&'.W<<V+
0 JKMR" /%  % ++ .'.,- 9%0 '+  +'&9  + 020+
+'+'=%900!<"+'&9'09+'8.@.&2
.&2%8++'&9+'84'@++&%,-"++0.%&+0,-Q2
G %& 9008 .G0  +'&9C&8 2@ ' '0 + '+=PC'+  %0 &+ G 
'9'0'03&%+.=%&+092280I&0+N'8
09+020+'+"+''.,-'++42&%+8%!
'0E%021'=%0.+'.+...++8+&030+=%G+0.
 +/%  + &@/0+ =%  0 %8 =%& 0.+0 + 24%+8 -
+0+ %0 .%' 0+ .  +% + 42&" `"""a % %+ - G ." &B8
!  ./   008 08 .,8 0 ' + 228 /" ^ '++0
2'80+/%++%B+/%8'0,&%F5.JJ[++6"
K
.+  ;0.&=% 1+ 20+ '++4%& %< '0 2 14
?8+'&90+%+4%&1?.+0'.?&?&+02@+
.0+"
31
+'2'02&%+''0..'+/%+'2%
=%9< 
V+.%%+<+'+28<+
0+.0+%3:.<=%9<
 E+2<+F" b% =% =%  0 2++8
'++ +0 %0 0  +++" < + +0
+%!'+8%++0&0/2"+W<<V+-
.=%.E+2<+F++0!'&0"`"""aV+
'0,% 1 ?  %  JKR[8 .1+ ++
 " `"""a : 0+  0@&  0. .
=% % - +,  ?+ '0 %0 . &B :
'+%02 < 0"`"""a-"&-
'+/%% 0   1 ?  0." `"""a %
0%+C++'22C'+%&8-.++
0 ' B0+ 0 2/9 . %0I'
0@ ,-  +% ."  9+8 +0 0&4'8 '8
!0 ' . '0 + %+8 !< +1 '+/
0+0"  +  .  +&-8  +0 .=%
+ =% + 3&9+ & ;/+ 0 .++  +%
0.8 '%"  &9+ /+ '0 3%8 + 
.%038 + &@/0+ 38 '+%02 0 <  E:
92!<=%</+ G+=%8
+ + 0-+8 '0,  0.& + .+++ 
E+0&+8 0-+c b%< 0%+  ' %0  +%+
2+"98 ..%' 0.8  3+.00%
3&9" .+8 =% 29 F"   2 :
0&+Bc
22&00.++'0++&8?&!0
.&%/C'+/2+'&=%98=%920.8
32
'+ +& Q +% 3" 'C' % -8 ?& ?&+ 0% .++ 
'0.&+=%+ =%V+W<<V+9=%!&'%"
 G.'  . 0%, .  +48 &/%+ 0/+
'90 =% ?& + '0,  .+ + +0+  0& =%
'0+%..+0+%0-8&%'%"0+00=%
+'0%+.+&8JK[[8+%.0"?&.++22'0
+'%&&+8'&%+0+%.."
JK[*8%02&%0%&;@ABA*@ACD8I8
'0 ;',- + C+ .0+ &2+8  .%,- .G'  +'" +0
+'&NC+%+4%&+=%-.'033&/!!'&
?&?&+8+-&+82:(;@ACE*@ACC86
,/':1) ("
DF%
0 JK[S8 . 0.+,-  0-8 ?& '++ '0 
+" %' 0. .+8 .+ ++  &%'%8 '& <
+80-?&8G0+0+10=%+2.&
?&+8 2  !&' + + 0+ " ^ ++ .4 '%3 . 
+'=%+%/'++0.'0''&.G'+%+.0+
&2+  ;. +% ;.++2 %0 2  + .;0 0+ 
.I3&'"
33
++08.+&'+0%/+%/".4
JK[*JK*)8?&?&++'2.,++
J)
8+&+'0%0&
0!1'8!=%8+/%.03G00%/&&8&2<
9'3%4 ..%',-=%++0039&+20
'3+'4'+"@&+&&8?&?&+
0.++.+%'.''%00+!+
0,+  ;.'2+"^ 0%!4'&  
+.+&4'+"G80.'8&/+'&'8
%0+.,'C'8,- 0@''!&"+2+
!%0!0=%+.'++0+
 4' .%0'%'0 + !++ %0'
=%2'%<G!&"+%0+<=%9@
088%0+.'+%3B2%03B2"
 +.' +%3B2 +- + G+8 + 0,>+8 +
''+  G  '/ &4' =%  % .++" +.'
3B2 +- + '++ =% !20 ''08 =%
'&0.&'8=%+.0Q;.'2+-
 +B  +3  =% 2 '' .+8 ' %0
+.G'+%+.+"./=%'0+.+&4'+G
 !<080+8  & +%3B2+'%0 
&3B20"`"""a++G%0'+=%1+8+
.+80+=%'%=%8Q+2<+8?&
?&+8+./+"5 JKSK8J)KJJ)6
J)
/8'&0'90/5JK[*6835JK[*6835JK[S68/
#5JK[S6835JK[S68/5JK[S68/5JK[K63
+ 5JK*)6" + =% .0+ .,+ !0 %+  .%3&'+ 0 ?8 ?&" 2
! 2&" "   V &8 ()))" + %+ .,+8 =% +0 %+ %0 +/%
2&%08-!0.%3&'+'%0G+"?@88..+&,0
'0.&%/+3#.&&3"
34
.+80&/%0+.++/+8+0+&4''
 +'  .B%'  0  08 '0 !0 &&8  
9&+-;+B00+=%&"+8..+=%+ 
+ ./ G &0 '0.+ .& / 2&
&@ + +%+ .,+8 .& ;@ %,- 
0@!8 .& +03&/8 !0 .& / =%& 
+' =% & `?&a 0" ^ 0. =% 9B %0
+., .  . =%?& ?&+!<8 =%G %0
0%+.'&8&0!=%G
-+29!<"5 JKSK8JJ)JJJ6
1  . + ;.&8   9&+ .'
'0.9  020 *+  'B%  3" '0. Q
G.'8 9B .0+ 2  2& +G' +++ .,+"  !=P '%+,- 
0+E&@F++9=%'+0+=%%0.,'0/
#09%2"%&/+2+&4'+
=%'%+80%/.++.,0/09008&4
'+0@'8+%28=%G38+'!'8.%0!,0"
++'%+-.&0%/8%'3%%0+0+
0.+.C0+3+&8C0'9JK[S"
.0,-2.&;3+8=%+1!+.&'+0JK*J"
35
DG %C@%
'"/'7('5
.1+++.4+'8JK[*JK*)8
?& ?&+ &,+  .+ 8 0 0+  *)8 .%3&' +% .0 &2 
2+  )*6"  ;.C' %/%& B@ + '0 %0 '9'&  %0
/+8  03G0 %/%&8 +  '4' & +!& +3  .+
9&+" 0 +% ;8 +!& '9'  .C' '  ?&8
3+2 %0 '+' 2&%,- =% &, + C+ /C+ .'+ .&
% .+802"!&+3.=%C'%+-?&
.!+/C+8'4''& 
&/%/03%++%.+?&?&+-
. <  /0   9%08 & '0 
''38 0 + '.< 8  .&'8 _+.B+] '0
!I/&1238'0_0!+,]&/%/08
+3% 03G0 '0  +.&C &38 '0
'C'+.%'0=%2.,+24+'+
9008.%!'+'0+_+&%+].&2
+'&1/'+'&1/'`"""a5 JK*)8J[6
^8 .8  %0 %& '++  '+'0 0
.++3&+  ;.++- =%  .'%+ 9&+ + 0.&8 %&.++ +
!+/C+"'%'0=%+!&&C;9&+8.0
'4'  .C' %0 +G ++,>+" !0 + 0+ '4'+
=%8Q=%&G.'83%+'20%02+-+''39&+80+.'&
.+8+!&3%+'%.%0'B%=%&0/%0+=PC'
36
0+ %03&9+ .& +' 0 =%&=%+ /C+0 =%+
9;'"'4'8+'%?&3'0+;0+ +
0/0  _'+@&]8 .+  .++/0  !+ ++  =%
03G0.+'04+8G.+,-%00%0
=% + .+ %&A  &%'1A!+0/1' !%0+ . '
%00+!+%.&"'B%'4'G.'8G+%+!&
=%8'.000%,-+'8+3&'+0+'+
+ &,>+  'B%  3" b%+ %+ G'+ .+8 ?& 2&  +
!;+!&'0+%0+0+.+&%+B@!+
+3+%3"
0 %0 2& +G' =%+@2&8 2  !08
+!&/%/08.G089@+&03!?&?&+8=%
.'0)*68B@92++%'0.0%/2&
'9'  ++ '0 '< '3%% +30 . +% '.,- /
'0"
++2!0+'8.G08-!%+'.
0%/".+  .%3&'2@+%+ 4%&+0 .+8 .+ !',-
.'+8 '%8  0 10 .  ',- 9&+" 0 +%+ 2+8
?&?&++!+&0+'&@++'++/C+&@+'B%/%00+0
42&;%&!+/C+"
+++8.'0&2F80JK*L80'
%0+.G'..=%'+/?&?&+
'0E%02%0-+++&+3+&+F"+'&.+8
.+8 ?& ?&+ '+1 =%& =% 00+ =% '0 %0 +.G' 
37
218%+B8C+/C+&@+!%+%00+0;.
22&0 '  9+1  C+ .+/+" !'+ .+
+%.!'&08 +++ C+ .+/+ '+%0+ 0 2 '0 C+
!0+  .+!',-  %0 +1 '+'C'" +.G'  +40&  4++0
80/00''+0&284.+/+@
.+%02+'&'!&!,+.++ +&'.1+8%
+2&+.@;+8+/0;+'&0!4+'5? JKKL6"
G'#< <   ) G &,   +/%8
'%3&9.G'?&"
'.,-'4'F8.G08+1@''=%+
.1++%.%3&',- 0JK**"+8 ?&.%3&'H82&%0=%I
+%+ .0+ ;+ 2+ 5)*6 F6   . G 
! 1  +8 +.G'  ;'4' '4'  '; +1'.&4' 
G.'"  8  =% . .' %0 'B%  .=%+ 2+
+.'%&2+8.++%0009+1'80++'0%0%'+
.B&@"&+'B%+++2+.!@'.H8
'4'&+38!0 
+'+0G0%0.&+.'%&28-;
.G0  3 !=P0 + B%+,+ +'+8 
;.&,- =% + .++ ;'0 +3 + !'+8 +
.+>+8+%++@'+8+%.&380+-
+ &0  ++ '+,- +'&1/'" 0  .+'&/
.+/+%+&.&2+8!'=%%
'4'%& =% ?& ?&+ ',0 =% '+%
++ '+' &4 23& =% 2+  ;.& + +
!+<"0'+0+%'8
38
+.'%&,- .%Q.@'0+ '9- %&+8 %,-
'4!'8 &1/'8 &@ + 0+'& '0  !& ..%&
0+'%&+.N"5 JK**8YY6
&G0  + 3&9 '0  &/%/08  '4' .
%!+.'=%'0.9@+'9&+%0!2G+04+'"
G0  =% '4'   &+ 3 < Q B@ !  . &
+!& 0 +% .+,- Q)*6   ! .+,  %+  +%+
+30+ +'%9&+" ++ !/%8 % 0&98 +%!%,- 
283%0!,-86
&`?&?&+aI+%++'&/+ 1I$+8
%!&+0.+I+8%=%
+++3+!<+8%+0B8;.&8
 9%0&9,-  /N' !@%  0+ 0+8 %+
.&.3'+''20+%+
!2 0 =% + 90+ + %'08 + 08 +
/000'0+%&++.00 
2"5 JK**8Y6
^ ++ ,-  68  .&+ 0/+ + ;'0+
=% .& &,-  =% +- /%+ + .+/+ 9&++8 =%
0'3%,-'4'&+3Q3?&?&+"
+ &,0+ + +%'0  B%0 + !02 
'9'0'4'3:0JK**8H!+'&9'00&9&2
.&++',-%&+4'+A"G08=%+>+=%
.'0 0 .+  %2+ /G'  %2- 03&< - +1
?&8 0+ 03G0 + =% '220 '0 &  %   G'  JK*)8
39
3+++;.0+.+=%++%''9H%/+&+
 &2 26   (8 ?& @ + ' Q /2,-8 2G+  +
!O'+82<+=%8++/%%8+0.+++0+"&%'%8%
'0<?& E;0&%'<F8=%B@'0,2.'+'C'
%00%&90.&!%;+C'\%'%%&%'<2%&8
2 % 08 0+'+0 % 3+'%+08  ! G =% ?& - ! 
I'   + E'+ +3%+F"  +13 0/ T/ /%+ &&+
!0203G022&;.C'+& 
+ ''0+  +  & +3  2+ 'G% 
+&+"+'+2+c`"""a<+/+0++
'.+0'!%+0@%!+0%+'&
&/%0+ !+8 %2 0 &/%G0 0 '908 0
'90"""'9'2<+'9"
JJ
.0 24' % '0.9+0 =%& =% +0.
+2&?&\!G=%+++;.C'+2-+%0+.G'
3+++-+'8<+.+%%2+!''&'0%02
0'B%,-'.&.@2&+3%&"
G'JKS)G3'0+.%,- '&0
?&/<%0'&N.G'=%I+%+;+.4JKRK
JK*K8 0 +/% &,  2&%0  .++ 0 ! 3 8 . !0 
.%3&',-2!.,/G00-%&"
++ 0+0 8 2  21'  ?& '0  +" .+ 
2'+8 03+ '%0 22  +  &8 =%  ++ &% B@ 
JJ
.0+'+&".."JLJ["
40
2 !I/  ++ +'+8  &+  0/  E+'4.%&F 
 3%8  0/  %+8 + '&%+2 %+ .+/0
90O002@+;+?&"
  +/%8 ?& ?&+ '3 % .C0 ''
03G0.&++',-%&+4'+8+2< .0,-+
.&'B%39&+"
3=%&90'9'08/3#$
08 G .%3&' 0 JKS(" +'+    =%& !< .8 ++ 32
0' < Q &%<  .+/0 0+ '  3 9&+  ?&&G8  3+'
+9"++.+/+!0+=%.203+'8
++./+.'+.'B%/++!,+=%/0
%2+!''&?&?&+"'Q!/.&+/&,-:EF
 4%& 20 ++ ',- ;+'& :8  .+/0 ?&&G G %0 '02
  %0 0%&9 '0 2%2  =%8 0 . %0 &%'<
2%&8 - '+/% 2 +  ;+C'" H@ + .0+ &9+8 ?&
'+/%+..!',-8'009.%B,8+!0%00%&9
+;/@++3+<90% 
0 !+  '  &/%0 '+ =% - + 
0  0 . ++  Q +'+8 1!/ '+%+8 ++
-8 % ?&&G 03G0 '90 . 9%  9 8 %
8 % 0  /%G08 % Q .'%  &%< %0
'/% +&'+8 +++ + Q .'%  + +
'++"5? JKS(6
41
++.@/!%12&80+;.+0&A'22'
.3&0=%3''./+"2<+/O'?&&G+!<%2
G  I&0 &9  09 '09 .' .& &2"  0/0
E.!N'F$08=%.+0+++'Q+'8.+
30  .!& /& + .+/+ 9&++ 0.%&+ . %0 ;'3
&%'<=%+&'0%0'/%+8$00.'0
.C' +/%  . + + '0%+'  .>  +'3 
  2"  .=% 0 .++& +!0+8 .&+ .&2+  ?&&G
0%&9=%./%+./%8  &0  + 9%0   0
/,-=%&9.+/% +;+C' 
/&'.%+'0C+8-'0=%0/&
2&9+%+'+%+3+8/&'.%+'0
=%0+3=%/&+88'0%'@2&8.
-'!%0. 3+&%!`"""a
0+ 0 . ++ '0.8 &92  .'0% 
.+2 =%& 02 '0++8+=% 
 0   2 '0 ++8 +8  &%0+8  08 
428 /& !%8 +&2+ &03  .  =% %
.++ '0.8 +1 ++" 1 ++8 9 \
0.B/3=%%'\5?
JKS(6
=%!&;-''+&,>+900
%+8-G++9.'%++-!;,-]/3#$0'0
&20+''B%39&+"%3&'0JKS(8++.1+
2+  +&  4!'  /B 1&'8  . H- %& 8  &2
0'8 '0 =%  !  !/8 + &+ 3+&+  =% < +. Q+
42
.+,>+/C"+%+08&&T2+&98
.0'&.%,-&@!08/#$0.+
0'0
0 + 0+ 42+  .;+ I'+ 
2&<,-8?008b%%&.822'.
%0 0%&9"  .++- .'&4.'  E.&2  %+F
+3'0.0+90+"+!'&0!&
0/00%&9+%30++Q+2+3+&%++
.& /B  +++ .& '"  &G0 
3+++- &/+8 !< + %0 3++& 'C'  %+"
+!%+-+0+/"5?JKSK8J(
JL6
&.'%++-=%/8?&?&+G'20+0
8 .&  8 . .'.  /0 + + 
2+ +%&  0.+A'0." % &/%+ + ?&
!=P%  2+8 .'.  '+  .&++ '0 &%+ 
.!+++"
++;.C' '0.8 ?&++%++++
.& !4+' =%N'  .& 00@'8 + 0/  /+ !4+'+ 
00@'+ =%& +%,-" ++ G.'8 +% ++ .& 0+G 
;+C' + .!% ' 2< 0+" 0 &/%+ '+8  +' !<
=%+-20+'0.!+++.0!4+'8.+'92
0+.%2=%3'0++%+++%3"!4+'00@'
&9.'0+'09.0++0+G"
43
 .;0,- '0 + 'C'+ ;+8 ..' .&+
< + 5JKS(JKKR6  .'.,-  ./0  +C'  '0.8
+%&+'2&$"%3&'0JKS[8B%0
'02&%0.+#+682&.'&0.2
@  ++  +'   + =%,>+ ;+'+  ./+8 
.!++%2+@00@'01+WG+8%0+03&/00@'
2  ++% 2"  B13++&  01+ '09 %0 9<
.1;0?&&G83+'+988&%'<++./%0+ 
+%+ 2G'2%0"+=%''8
!'+ 2  ++8 %  2'+ ' 0 .'+
0"`"""a01+ ./CI0+A+!0
 &+"A ?@ 3+ 9+ 0&9+A 001"  ++
!+ + 24+'+"A ?@ '22+A '%+" % .
9+%A%0'A3,%0.++9"`"""a++0G
=% +0&< 2  '2%&+- 
0%+.4"+3''%&80'9+8+++
.++'%+-+3<80.%'9'
 .++8 '/ '9'  &%<8 %+  3,+  
3,89'0" &/%G0+'3@ 0.0%
B+.&'=%&+0`"""a5? JKS[6
+0&9,020+.%&01+?&&G8
3+'+98G;.&'0!;8'0.!++&'
G'5())[6"=%?&&G0'0+.+2.+%0
'0.98.%&8G+0+'C'+!N'=%01+'
+.0 . +% + =%+2" ++08 + + 91+ ;0.&+ 
44
%2+9&+3%+'08.%000&%0,-8%0;.&',-
.+;+C'"
 +.  .%' ,-  .&+ +%+ '4'+ Q
2&$8&2+'!/%'00.2'++Q+
!%%+.%3&',>+  %"  &/%/0  0 0 3&+!01 =%
92 +.%']/ 3# $ 02++%0=%%0'@'+2
+@'09+'&9.''00=%+-8900%+"
0;.&'G' 
+ .  /2 '&8  3&9 0+ 
E;.&'  ;.&'@2&F +3% 2& %0 E+ Q
0+F".++3&&%0,-.++.
'.''+.%0/+'%0
',- =% .+ + %' +0 /+ 3;8 
3%8  .!,-8 0+ %' + &%/+ '0%+ 
&/%/0 %  2 +'&" ^ ;0 + + Q
0+8+23;=%8.$8
3?&?&+2;.& ++./,-.&%/+
!'+ !%  !%% 3 3+'" 5^  ())[8
J)6
.13.'+010+.+/+9&++"
.1++++I&0+&2+0.+8?&?&+
.%3&'0JKSK/8&2.0+'%B=%'.%'+%+.Q
E&% +GF" %0 +.G'  2'48 '  !&1+! !'C+ /+
&&8?&?&+!0%++&2.!'++&@ &.
+.++3+/++'+0/%&93'983+'"
45
+0'++B1'0+']/#"""8G
'0  .%3&',- 3   4 4#%8 0 JKK)8=%'90 E!+
./@!'F?&?&+2/90,-"&2'+/?&?&+
'0%0+'.&C0'"3B%+!'2+0+..%&8?&
&,3.2'+./,-'4'+0/+"
0%0+%%2+0.&+8?&'+1%2+
 .=% ./+8  03T" &9  %0 +' !'++8 =% =%
&2  0@;0  /% +G'  &4/% .%/%+8  .=% +. Q
+'8+&2+'2%0&2E3&9+F.B%.+!,+
0G+'+" H@  0,-  ./+ : 0 =% 2'  'B%/,- 
23&03'.+++/%&:8.0+@&3%+.&
+' . '+%  0 E./@!'F =% 2&2  .=%  
.  %.& + + ;.C'+ '0  &4/% : 1/- !4+'  '2
&/P4+':=%02./<8?&'+1%0'%&
+32+'+%+&0+'!&%+3&9'0&4/%"
&28 =% ! '%+ .&   '   '+ E&;F .&
+ .&@+' e +&T %V 8 ! .%3&' .&  ++ 9 '0
&%+,>+&&O + 8 +/  0+0 8 3   4
#%/9%0+/%,-"
!+3+'0'% 0+0.%3&',-
]38JKK)8+;0.&J52)+2&%0
 .+ /"   +/%8 .%3&'  I&0 ;0.&  '90
E&/ ./@!'F : =% .!0+ '90 1'3+' :8   
8 '%B +%% 0+' + @ %0 +.G'  %&<,-  0'
46
.+& !'C+"  3'9 '0  .+ 8 0 JKK(8 +  '&N 
.0+ 1'+4'+ &6" &%+ '0 /2%+  H/%8 '%B+ ,+
&20.'&&3+2++8&2.2'%2+'
'4' +.'&<  0 +% / 08 + '4'+ &020 
+2%0.G'+'"
.1+'&%0=%2&2%0?&?&+2+
+'+ 1'+8  +' 0 +% .G'  .%3&'8  0 JKK(8
'&N 0 :8 '%B '.,- '4' G 3! .& '%C' + &2+
+"
++ 0+0 8 ?& G '2 . '&3 '0
'+   8  B&  8  0.+"  '%+ +
'28 .+  +'8 .+  '%0%& 2@+ .C0+  /<  %0
'9'0 . .  '4'8  '+ % . %0 .I3&'
'8'0.&;+'!4'&0"+'2.%00'0
0.&.''%&,-8?&?&+!%02+!0+%'
&@ 0''0/.I3&'8+'4'%&+'+
%2+ 9&+ + '0%' '0 %0 .I3&' ! =%& =%
'+%00 '0.92 +%+ .%3&',>+0 &2"  '2 ! '8 
%C++%&2+E'0.+42+F'&3%+0&0:
+&2 &/%+ 2&+ : '0   8 +'2 +%+ @'+ 'O'+ 
;+%'!%42&0'++/C&@-3+&"
- 0 0% . =% %+ +'N&+ 2&20 
0  ?& ?&+  .  +' '0.+ + 0!+ '@ Q
'&3,-  +'  B&"  + 2@+ ++%+ .%+ 0 +%+
47
'O'+822&0&'0.+'2+09-+0/
%0+'2&'0+0+.&4'++&%'0+9%0"
.+.3&0++I8?&'%!
 +' '0.+8 ! +%+ .>+  .+  2+ 0 +%+
.&C0'+ 'O'+" '9'  .0 3  + - &9 /
'!+8 .& '@8  +' ' 2< 0+ + 2 0 .&+
'++ 0,+  +.B 2+  0@=% 3%'@'8 .+ - 92
+%!'../+0.++0%'.++%'9@'"'%++
%0E',-0&F'+E.'4.+0&+3+
'+%0+F8?&8.G08'3.++'%
+%'&3,-GJKKR8=%'+!+B&"
+ +++  '' +8 3+ 3& !4+' 
0'&08+'+!%0+=%0'3&"+/%'%.+
.+++';'&%+20Q+'=%&=%++%&2+.
2 &@8 0'1!2" ++0+08JKKR8 +'
0+%'2.++&=%.&'%0,-%&%&&;
%&@&A8  +%  +%+  /%/0A  '0.8  G
'"
%+'00,>+'&%&980
JKK*8?&?&+G90/'&46(68&<0b%3'
@"?&0+%+.0+&+B%'0;+!83&+&
/%f%'".%3&',-1!2'0&+.
&@  +'" /%  '4' +.'&<8 +  0'
+03&< - .+  !0  ' &@  ?& ?&+8 0+ 03G0 
48
!'90 ''%&  +% %2+ !''&8 %0 2< =% & +- '+
++0@+'+9&++"
+/%8JKKS8.'3%,-+''0
'+G%.%3&'+34%&"  .&
 V"  &2 ! '3 .& '4' '0 %0 +.G'  EI&0
.+F+'.I3&'"0/.2+&@K428+'
B&+H""%+.0.'3%,-?&?&+.
'O'3+& 
+%+=%'0/C'0&/0
&%8'3&,+/%&'+
2C'=%=%&3G4+'+
3%+  !0+  %2+  +% %"  
+'!&+0.+0+0++%+/I++8&2<
 'O'8 '0 +0.&+ 8 + + +%+
0I&.&+ .+/+8 .++ + !0 0&9  +
0+0"5 JKKS6
+ .%'+ 2++ =% ''%8 ?& ?&+ +0.
.''&0=%.%'%=%+%'& E-+=%''8
+@%&@8-'&c+.+++-'0.0"""F"0.&%'9'%
 2& + 3&9+ '4'+ =% + +%++  &% !<0 +3 +%+
&2+8  +=% +.'& .  ;  & +!&8 .%3&' 
.+,-+%.0&20.+8'0+.0/'4'
+%3" G08 - 0 .&2+  +! Q+ &%+0+!'+ 
&/%+'4'+ 
49
`"""a+ '4'+8 0+2<+8+- .+03G08
&+!'%&0G'++&.+'"0,
!& '++8 ' ?//8 WV/8 e /+8
/%G0&C8.8G!'4&0"
J(
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+%38?&?&+'/1' E+.+++=%0F"+ +&/%.8
+.20.0.&!/%+%. E%!<093.'%+
0%."%.!<-%0+'F
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+%+.0+%0'0@/+3+%'+++%3B%/
.I3&'   !  - '+/% +322 '0 + +'+++ 0+ =%
'+/%'0+'8+!0+&00++%.2@++%+
'O'+"
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+!8.++0=%&&9.2'2 
%9%0'/,3+0"+.+++<08
E++8 2'C =% !&   08 @ ++0 '/ 
0"""F ^ =% % 9 0  +!0" % +0.
.=%%!'++3+'%'=%%-+!++"
&9=% &@  '08 ++%+8 =% % - '9,8&
'%0.%8-;%=%%+!++"5$ JKKS6
0. !& '0  ! &%'< =% 0' +%+ ;+8
=% !&2 +3 08 .  !+  E=% 0 +/%  0- 
T/F" G08  +B   T/ . .  9 0 =% E ! !'F
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50
'9/++ - ! .++42&"  '  %0 !%  !C0%8 ?& ?&+ !
?+.&+&4'+'0."H@'0+I3+3&8
+' - ++ Q+ 2,>+ 0G'+""" %0 '< 09-  =%
!8+)R2())M8+.'.+B+.4+<04' 
  Y  ? ?" % ?&
?&+" 0 + +'+ 0+ ;.&+2+  +G'%& ()
3+&8 & 9 *L +  !  . %0
+%!'C' 'O' '4'  .%&0  ?+.& 
&4'+'0.800.+"
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'.<  ! +%+ .++ G  !08 ! +0. +% !4' 
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 '@ + '&,>+ +++ =% ?&
'+%00 2 0 2++8 &/ +'+ '0 +% 38 0 +%
I&0 G'  28  +' .O .+' %0 2 +'3 
+%+&2+...I3&'&"@++%+;+!0 0+0
.,++8'0.+,>+.&+&;D!'+&&0
.%3&'%++%+ &2+8/ 3# $0 J8 /
.'%++-.I3&'!'C+D&3=%+++%3
'0.&8.())J8'.%3&',-+%+;+"
2+++0.G+0%./0@'8?&?&+
+/%%'0+%.B2 '+%,-%03@/&"
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51
0=%4%&+.%3&'+82@+%,>+I0+.C0+'%0%&+
 &/ + '' G'+  .%,- 4+'8  #)     : '0
!'% '9' + +  0.+ : .' -  .'3 
'+/,-+%3&9"%'0.+080%0'%0@
&<.&%+'0%',-'0.8?&'&%E+.+
+'+ 3+&+8.=%&+%' 2-'+/%`"""a %8.;0.&8
0%++++.=%%!++&`"""a++++0/,-"""%
=%.+2=%%2"""F5 ())L6"
.1+ C+ +  +% +.'08 % .' +
.+'2<0++%+&+"+G'JKK)8'0%
'C0'   .4+  03G0  ; 20 +2&2 0/!+8
++,>++++3+'"'9@'?&?&+22%3.
+%28+&8!+!0!8
+%0+.,+Q.+2,-001+'"0
 ?& ?&+ + .%'+ '0,  !/% + '0.C+  &% '0
+%0+/+0++.+@2&.&2&%3+&+
0+&+;.++>+&@+&4/%.%/%+"
32'%+- +'.&'O'8%0'.++&
/+%0G.'8++0'0+%+'8.2'".+E;&F0
+%'9@'8?&-!'9%+&9++.'.+''0++%G.'8
.&'@8+!0%/,- + 0&9+  3+&+ 0.%
+%+ ;+ +0+8 ++%0 ++0  ..&  .2<  / 0++
O0"
52
38'0=%%0+.G'+Q03#
$8G2@.''0?&?&+"
7
3
3$!
*
0++
7
76+
1<<
7<
3$
7+(<
#$
<<
!
*!
!
53
F    %  @ %   
4H%CCCC
E- .++ < .+20 0 =%  +'% 
'O'D 0+ 9@   .33&  ' =% !
'N+.0+%+2<9+"+++2<9+8
B08+0+Q..3'+
+%'+++  " 22&0 '0,0  &+0+
'&"0<=%-.%'0B8%
=% 9  '0+ 0+ +.  =% + 2+ =%
'0" ++ + 2+ Q+ .&,>+  0
!8&/Q+.&+01+08
+8'+0+!@'&8%&.++42&0%"
+/0'O'"F
'9+++"@B"Jg203JS**"
.+O'8'-+'0&2.&0+
'98=%%+'0.4/!8.'+''0+.4/C
&@ 0+ +'/ + &+ 3+&+8  'O'"  '@ 
9+ =% 0 0 +!0  0. %0 8 '98 + 
  &%8 +!0  '%08 .22&0 &2 %0 +
0.2++,>+''++G'%&YY8%0+3+''"
/% + .+++  0+ !&%0+8 +2&20+
+'.4%&%0.0.%,-'O'++&8+%'&+-
+0.++++G'%&YY8+%!;,-E'&0,-F&/%++'+
+%++!0,>+&/+G'%&YY"++.'.&3B2++32
.0 G  !' + .++%.++ +G'!0+ =% .++0 
'+%+.+%&+1'+''/C'O'&%3+&"
54
FDI4
+%/02&%,-'O'3+&+-0
&/+Q9+1+2&200.++&8%02<=%8&/
 +% .'%+8 22&0  'O' +2 &/  ++ 0 
'0%',-" 8 + 0.+'42& %0 3/0 ''0 
'O'  ++ 0=% 2 +  0 +.+@2&.& !;,-  'O' 
+&"
 +%/0  0.+  +& G 3+  +
'!'0%+.4++0G'"B0+&/%++.+2+9+1'+
=% '3%40 . & 0 %  .4 '&&8  '+%
.+/%%+'00.%3&',-&2+B+"3&=%'%&%&
!< '0 =%  +& !'++ @+  .'0   +  0G' 0
0G.%,-&"0JRLL8=%+%<+++',-
0.+G/H8.0./!'!+&
G;'"+/%80JRSM8%"0J[LS8'9/++++8
=% % +% .0 B& 0 J[K)8 0+  '0 + + + .0+
.1'+ 3+&+" ++ +  .2' .& !  %/&  '0
.&4'2 Q+&,-./!+%2++0+%+'&O+8 =%
'+2!0'00&0,-+.9&".%0&8+
.0+B+&2++1+0.%3&'++&.JS)S8.%8
 JRMK.0 ,-&2 G;'8&% 
$8J*((.%3&',-+%.0B&8?,()%
1L5$$ JKSS6"
55
 0  =% + +  2&%,- '+  
.C' 0' + ../++0 .&+ '&O+8 %/& .& 
0@;0  ''%&,-  0.+++  +&" G08 + .0+ ++ 
+%3&2,-+%/0'0%+0'9/./!"<'&+0
.+&8 & + .++'&+.3& 
201.&"
!'&0  0.++1 '9/  +& '0  2 
04&&".+0J)+03JS)S8'0.%3&',-?
G8=%2!'&04'0.+3+&"G08G3%4
?.1&+4%&!%0.+'&8%02<=%+
 +.+@2& .& ,-   &8 < Q '&O C+ 0++
+  ?"  '0.&'0 ++3&' .  2 0 G
.&!& +0+?8
'@8 0 +& 3+&"  ! G =% ! '0  ',-  ?  
G=%+%/0',>+.20.++-+&803=%
+Q.%,-'%0+!'+"?8'2.&
 .%/%+8  %0 +.G'  2+-  ?  4#  9 '0
.'.&!!+3+&%+0<4'+%."+%30++-Q
09=%8++00.+++8+;+02++."
H-5$$ JKSS6"
++ ';8  - + . !& %0 B&+0 0+
+0%00.+&/'08.+.@'0.+3+&
&2'+G'%&YY+'%.&'.'-+0;.
.&2D+B+++G.'80+%/08-.++20
56
3&+!'+0.+G/"00+3+2,-.+=%+&0
&9 
+,-B&+00.+8'+=P08G
!%0& 0.+G'.0&B&+08
.'++G''B&5"""6"B&+0G0&
!0,-=%+%/8++0'0+++0+.
+%. '+ '+++ 9+1'+'+" 5
? JKS*8J**6
=%+.'388+++.0+.%3&',>+82&&03=%3
.!'.&8G%0+2G0B&+08.+&++
+'20;'4'.%<%'+=%+2++0.022
!&%;!0,-+'''20+;'4''&+
.>+'@+Q.%/%+"
+0-++&8&.+
0'0%0&0%.%++00+%/00.+
3+&"  ''8   + +' .& .+% *+ . 
G.' 0  .0< + ''0+ +'+ +'+  .+%
%@++%0.&+%+.%3&',>+=%&9+%'0 
  & .'+0+ '0%0B&0
=%+!&9+=%+&9+/%0.JS(J"++
3&%+  !'8 / % .=%8 .2&' 
'0@/%%'03`"""a"5$$ 
JKSS8LM*LMS6
57
++083+20+=%4'+G'%&YY8+&89@
%0 +'0 0% /  0.+  B&+0"  .'.& <-
++0.+-G''%&,-!0,-80++0../,-2<
8'%00+!+%3+2C'+0+!'+"?
G8 ++ +8   .'.& .2< ++ +'%+  0+&0
2'%&2+%3'+.3,>++3+=%+22'&O"8-;+
%0 B&+08 ++ !+  ++ 9+18 =% .@'  .%,- 
!0,>+'!',>+2++'+.+!0@&+04'+892
+0
%0'9=%!0,>+.%<++3.8
'%B'I+2'09+/%&+!++'+8
 % .  !0,- 0+ .1;0  ,- 
B&+093 &" 0.+ !'&
9%00''&.G'8.!<%0+&&1=%'0
+ +%,>+ .&4'+  G.'8 + +%0+ %0 +1
!+ 3C'Q.%/%+"5? JKK)6
+ .%3&',>+ 0 2++8 '0 + ;',>+8 '0 %0
+.G'  ;+-  +'%+  " G''  'I8 ++ .48
'!%0+  &,-  .%,-  !&  .8 .0
''  0.+ +3 + .'4.+ 3@+'+  &/%/0 B&4+'" ++
'@ %@ =% '!/%2  .!& + 0.+++ !< '0 =%
.'0 - 9%2++ +., .  ;'4'  '+%,-  .-
.I3&'"
58
FF%
%

4
 &% '0,  !=P + .@/+ + B+
.%3&'+  +& 0 0+  JSLS" +  ;.C' 2 
!'C+^0&8=%+++.2'%02&%,-&
.%3&'  0 '.4%&+  B& 4  9+1+ '0+  +'+8 
G  ( % Q !3  !&90"  %,-  !&90 3 
8  &; %0+8 % 4'  +., ' ;'&%+20 Q
&%+0.+++5? JKK)6"
< + +8 .G08 0 JS(M8  B& 1$ 08
' .&  !'C+  &'98 +%/ =%  B& 2  %0
3+2  '+%0+   /%, 2+-  %,- . /+ +
''0+  +% &"   4'  =% + '2'% '90
.+0  'O'  '+%0+" ++08 + .+  9@3+  '
3+&/90.+,-+4'0&+'0+;+.+
0038.JSL(D+,80
JSLKD   H+  +'0 &2 03 8 0 JSL* 5hW 
JKK)6"%8G. %0H+G &'8+/% 0 +G'%&
YY8=%++;'4''O'2+!0"
0  0  "  8 0.+ +! %0
0%,'&0+%.!&.JSM)+B+.!&@++.+=%+
.&4'+=%.&!20+2&"H-%/&'0+.,
59
%0 B&+0 0+ 3&'+8 '8 ++08 %0  ..4' . 
.&!,-+!&9+"
%++.4'&'&3,-&+82@+
!0 + +'+8 '0 H=%0 %&  '  ;  %<8 =%
20.++/0.&+!&9+.&+'O'+"0+.'0.!+
G =% 2 Q+ 0%,+ '++  ./,- + B+ ++ G.'8 
+., +  +++ '&3+ 22&0   .G  .0
.@/" 0  E0.G+0F + .%3&',>+ !'++8 ++ +., /@!'8
'&0 '90   +  08 ++%0% 2@+
0,>+'I+"%+2<++34%&6*%((8&0
.%3&'+ 0.++>+  +' +3 %0  ++%  '8 '+8
+8'4'+8+9+%-%00'=%82.=%+.,8
 +'':  6 :  '3 !10%&  $8 .
++0++&"
.+/%0+G'%&YY89@%02!+
0.+ 3+&"  '++  0&9 +%% +%+ 2+
EB&4+'+F80.+%&.+++&0,>+'+0.++.%0'@
 +&  +  E/ 0.+F" ++ 0%'0 G''
+%/%023%,-+'&.++0'0%',- !<''%&
.I3&'&8/0+3/8+E'%++F!+:&+.%3&'
:.&+/%.+'O0'+8.'.++.+@2+.&0<,-0.+"
0+%&++0<,-89@%0++42&'+'0&!<
'0 =% +%B0    H8 +  0.G8 ./!+8 &2+ 
60
33&'+"  ''%&,- + 0.+++ /9 !,  2+ 2<+ '+/%0
+.,+!0+"
^++E30F&=%B20H+G&'/++
  ,8  !' +.+@2& .& +,- !+ .& .G
0'&"+,-%&8&'.%3&'+%+'O'+
.4+03JSRMB%&9JSRR8'&9+%&002&%0
+3 4%&/"%'0..+8&'+' .&
0G8++%0'/'9!80++8*
%%3(R203JSRR8'&3'0!&9+"
900+ ,- .  %+ +'08 ++ .48
+.&2+6$6$".+9B&'0++.'20+
;.++>+ Q 3   +' =% .%3&'2 0 B+ 9+1+ 0 '.4%&+8
3+20+8 '%8 =% =%& '; - 92 %0 +,- 0% '&
%+0'+6'+803+'!%0+"
0 !,>+ !B+ E '  .F8 Q=%& G.'
!&90'O'B@'20%0,801?!+/C++&+
2+"0%0+%+'O'+8H+G&'E<F+3
E20&F=%'%.2+.@/++B+3+&+ 
`"""a=%0!2`"""a+2%8=%'900
!&90 `"""a" 3/ %0 900  .' + +
''0+8.++/'B++%+G8+
.<Q+0+G+Q+'9/++'D+'0
0+0 /,   0+0 E'9&'F '0 =% %0
+92&+.@/+%++%@&3%0`"""a!<0
+'%0+.G''&3+2,0</%</%8
61
+%/8'00&+!&+8/,+&+.4=%
2 '++0 +'3  ! 0+ '0<9c
`"""a
8+-0Bc^.'+'3%02< '0
+0&9 '!%+-8  +3&'  0 ++ '++"
b% =%0+ B8 20+    1D +
+B0+.+++'&90+3&"
0.0+&%2+M 8.!%0+08
00+ !< %.+  0+"  . /&+  08
=% &9 -8  0I+' !+ +3 %0 0 !28 
+'  %0 4%& . +% &2 %  +% /"
0!&90G=%9@+!//&8+
%0+.G'.'G8%0##8
%0 '@ +.9& =% '9 + + '++ 
&/%0+'+9+0+\=%+%,
'0+3-''0%0;!,-
!&9089.00=%'+G0.++42&"
0 +2C8+!'%&+0 3'  3B ,+%+
'+ 2C0  &/ " ?@8  8 &/%+ +.'+ ++ EF
&' =% + '900  ,-" B0+  0@! %+  4' .
&' . 0 !&908 E2 %F8 %' +% '.'
!'& . 00!++8 ++%0 + 0+ 2++ !0+"  0/0
0  0.G+0  0 //8   %8 =% !=P0 G
.+.%0900 '0'%.;803G0 '%00/0=%
30!.+,-'+8%0++'/=%+'.&+0+
!+ .+  0'&%+  !&9+8 '+8 B&+ &  
!%+.'..&'+%0&2N'.,
.!&  'O' G  3%  /C . + 0+ 2++ 3/+8 E`"""a
62
.'++''0+8.++/'B++%+G8+
.<Q+0+G+Q+'9/++'F"+++.&2+8+8
'+%0+8  8 '0 2&+ 0< . %0 <,- '' 
'O'8 .+8  '@ =%& =% +@ 0 .+0 '0
.++%.++ 1'+  'O' : ; '8 08 +.++""" : +
.&2+'+!'0%0+.,.+E0+G+F'03G0"
080+. 9.0+ '.8.++++'%++-+@0
0+"""
  +.  2&%,- G'' 0.&0 +
,>+8 .+ +  ..' %0 0&9  =%& /@!' +
B+%03%+' .C'8  &/%/0 %&< .& 0.+ 
+/%0+G'%&YY-.0&!<%0!',-0%
'&  +'%+ .&4'8 &% B&+0"  +'%+ =% !=P +
.@/+ +++ .%3&',>+ 08 .008 %0 0 3'9&+' =%
+!0&0+10.&20.++8;/.
+ &+ Q 0/0  %0 '0.+- '& '' + .>+ 2'%&+
+++B+" +%&8&+e 'VG5JKKK6
.+%032.00.+3+&Q=%&G.' 
+ ''0+  203  JSSK %;0 
+&8 '0 '+.  B& .++8 ;
'&' =% 2  .%  , =% 
0.+ 3+& =%& !+ '0 &/%0+ 3+2,>+
;+  /%+  0.+  +& G %0 !&; !& 
++'&/2.@=%'" 
.%0&8&/%+/+B+0+.1+.+8.2+
63
 %0 /<,- 0& .+  !,8 22
.'.&0.%3&'8/<+0+%08+
 %8 '0 %0 0.+ '0'&  2+ 0+
. 0 + + 0+  +  '4'%&  +%+
&+ . %0  2&  +% .%3&'  =%
0./+%!&%C',-.-.I3&'`"""a"
0.0+3+2.0+3,'08.'
+ =% + 2&%,>+  0.+ 3+& - !0 0% &/  =% 
+.%0%0+'%+2"22=%+&0.+G/8
+B+3+&+828+20+++++'0'+0'
& =% + ;." 0.+@+8 B&++  &+ 20  0+0
%< +., + ,>+  20 ++' 93&+ +.'4!'+ '0
+++  .I3&' &" ^ .% ++ '; %0 + 0+ !0++
!10%&+!',-'+G'%&YY86$6$"+.G'33
'%B+ +&%,>+ +'&20  ' '0  /++ &+8 ++ E/CF8 =%
%%  1 + '4'+   ,- + &+8 +%/%  .% '++
'0'&+B+5 ())R6"
FGA:%
^'&3,-B20+'H+G&'8'0
!+  JSRM8   ,8 =%  +.,  'O' 2 /9 '
%0!,>++G'+&=%&'9'0+9B"+%8
64
+'%'+/C=%+'0=%.
0' & . 2@+ B2+ &+ =% 20 + .0+ .+++ +
&+-90'0+322%'0+2+++'+%0'!G
%0.&C0'++&>++'!+!&%0++"
+%,>++*6- &%//%0+'
0++&=%&/'0+%+&+"++8&'G+.+@2&.
<Q'O'
%0 .@/& =%/+ ''08 +'&8 4+'
% .&4'8 %0 G.'  '.&<,-8  '+'
+!0,-+'&"`"""a++.'++$
!&9+  &'8 +&   %0 ;@ Q
2  B208 . ;0.&8 0 &,-  +%+
+@+"7+ +@+.2&/+8 =%&+ +9+
=%90E-+0=%F+%2'3%&@EQ+
'%++2+8+&/&F8=%-9+0
0 &/  !&9 =% +&2 !&  E/1'+
0%+GF8%+B8.&4'`"""a".++'2+%
  8 0  ! '0  0 +2&%"
5f JKK(6
, !+  'I+8  '+ &' 2
&0+.,'O'8+.,+=%+'2G-0'!&
'0%++'%+++,>++B+"-.+'O'80+
03G0'+2/9+%!,-0&/%/0-'/C"
&'8%++%+/'++0@!+8,.!&+'=%+&2++
'%&2/C!%/ 
0+.G''&3+2,0</%</%8+%/8
'0 0&+ !&+8  /,8 +& +.4 =% 2
'++0+'3!0+'0<9"
65
+''&38 0/0 ' .  '+  .  &' <  ;
0 .  3+2   + .'.+ ''0+  +'"
G082Q+2,>+=%.%&000.&0++,>+
+ B+8 !< '0 =% ++ 3+2 '0+ 03G0 =%++
0%0+'%+28-0%.=%+''&38&G00&
+!&+803G0+%/++!&+'"""

FGD4%;<
@+ !0 + .1'+  B+ =% '30 
'&3,-0+'9+++"%+%'&@8.+
+2&+8#)$%+%'3%,-.+.'.+@+
!&%0++"%2B&4+'=%+'%B@+<++++80JSRR8
=%.%3&'.+++.++0/,82+.&/&/
28.++;'2@+!%,>+ +.1/!=%=%+0
.1;0 + &+  0.+ !'&8  JSR[  JSRS8  2+  
,8 .+08  '&%+ ]3 #  ]3 1$8 ++ +
I&0C++,>+"
^    JS[)8 .G08 =% '3 '2 . !<
.,-0G8=%%0/0%,'@
2  '9" % '0 B&+8 2 '9'0 '0 2@+
&'%+G.'"%'&3,-0++GJS[*8G&@
66
=%+''+/%+%.'.&+&2/%!'&G0&9+2'0
0.;.C'.3%+%+9<+&@+"
H@ 0 JS[J8 '9 !' +.+@2& . +'2  B&
.%0+.,.0'908'%B'I8'0
.1. 4%& '8 +%0.9 + .'.+ ''0+ '+
%  +0"  . 4 2@+ %+ .%3&',>+ .++0  ' '0
.+' &/G'JS[)8'&3%'02+3
G 8%<++++5JS[)JS*[6'3%%'0/
"
% .'.,-  0    G 0 0 JS[*8
=%'9.++++%0'/B%0368!
=%'3%0+.+%+3&<,-!'.;0,-.
3%''!'+"^++2!+=%.22&0+'.++@+
0   + ',>+  =%08 . %0 &8 + /  .&9
3%'@'+&8.%8%'0+%3=%0&0
++25 JKS(6"
 '+ '9 @ + '+/  .  '&3,-
.  ?  7" %+ 0+ !0++ 'O'+ 2- +%/ + .@/+ 
? 0 C+ 00+ !+8+38 '&0  +,- &  
5JSSLJSS[68 .+ '0  +G & N 5JSSSJSSK6  . !0 '0 / 
5JSK(JSK*6"
+!'++%.%,-&@B&4+'8+!'0+
03G0+',>+'900'9"0+00.0=%
+% '  &  !%'@ .I3&' ./8 '9  +++ '3
67
+%'++2+'0+=%!'0/%/,-+'++2/"
0'.82<+'2<0+/%'+8'0
..  &/N'8=%& 0+0 0 =%& +'+@0+" 0
!'%D%%3+.+8..+/+032&C'
=%8 + @2'  9008 .0  '    3 0'9 
0.00+%.%B,2"
 +% .'.,- '0 '+  ?  7 8
+3&'+%0&,-&4''0B&+0.'.&0.++%
G.'"^+++;+=%+'%0+-+!0+.+,-
!+ +'+ +'% 'O'"!0 H+G&'8 =%
6+.2+'I++%+'O'+2Q++9++
+ .1;0+ &9+8 '9 +0. .'%% !%/ + 0&9+ 1'+
.++B++%G.'"%%02+-0.+%G.'8
+'.'+/%.&0@;0=%<-3+;+.+%0%
%0 &8 0+ + !< '++@ 0+ + ',>+ 9+1'+'+
'0%!&+0'B&"
++08 '9 + +' + ''4+'+ + +'+
B&+++G'%&YY8.+G.0'9=%@.++
.@/++@+2+!%+'%++G'0.0+%'O'+8
!<'0=%+''0+0+'0<9+++%002+2&+"
+++8 .0+!' '4+' 0'9
.0 / +!0,- +'%+2  &1/' 0.  .=%
+., + 6*"  **$(8 '0 03G0  '9'  'O'8
++%0/0...&.',- %0+., 3 !&;-
68
+'&"  '9  +++8 .@' B&4+' . +  '0
0!+,-.&4'&/Q++!0,>+3%/%++ 
?%2%0'+=%!<0++''+80+=%
+020+..%&+D!B&`"""a"0B&0
'0.42+ +++ .++  9%08 +++ !!+
2%&+./09&,&+3+>+"
B&=%Q%9%083,'0%08-
%00/2%&/8%03"""..&8-80+
&/C'+8+.,>+"5 JKSR8K[L6
+@'&+.&2++'G=%''3B&
'0 .0 +!0,- +'& +.+@2&.&+3&'0 &/%0+
G+.'+Q3%/%+8=%'&+++'&=%++%.80
'.   &1/'  1'  +''"  ''.,-
0'98  +.,  B& 2 + '. + + + +%,>+
+'@'+8'!/%+++0'0%0+.G'+++<%03%
&28=%&=%0.G&2N0G+"
0 'O' %& / 6  :8 '9  +++
.8'%8=%++!0,>++'!%.&B&-0
.+ '@ &1/'8 0+ 03G0 '3% . %0 2,-  .1.
''.,-  +., %3  + ,>+ + 24%+ & ++"  B&
++0'3%.+%/02+!0+''3+.,+'&+
&%/+E..+F.3/+G+ 
.0..B&G.%,-0%8G
00!@'&0++003+'.+'&"
69
++08  .@ =% +   &8 !/ .& &3
'82&@'  &.- '.8=%&
.-  +.48 91+ +'&  '0%9- .&4'" 
../ ++0 G!@'&D  +'%++-  B& .%<+
03G0 =%& +.4 %8 '0  !, =% 2 &@
'9   .."  &0 % 
2%& 4!0 '38 3+2 +0 &38 +0
3+@'%&+ =%&+ 0.++>+8 =%& /%0,- 
.'4.+8 =%& /P,-  !+" .+ %0 !&;-8
.+=%+/%%0.&@'=%+28%0++0=%
'8%0.'4.=%+&28%0!0=%+'"
5 JKSR8K[L[M6
^8 .+8  '.'  .00  . 
'0.+-+!+.&+&+=%+/!,+!0
B&8  - .+  03 &1/'  !+ +%%+ +'+ 
3%/%++''"
'98'+.+%2<: %!&9+80
%+.&+':++%0..&!'+=%'%.0+,>+
+B+".+8<'98E!&90+'B&8
!&9+.'+=PC'B&+F8=%&00&30&,-
+8.+
!&9+G!%+-/@2&I&!I&8.
'%+  +/%&  +G8 '+' '0 !42&" ++
+ &0+8 + '0 .1&+8 9/C+ '0
@/%!/8'+0+.!0/<,-2
0&"5.%f JKK(6
70
+3&%/'%..++'2+.G'E0&F8!'0
%0.'%&0/0=%0+'&.+'+%0 
!&9+8+'8'%.&%/'&3
+!2/& +&8+2,83'80%&8.+.B
+ +3 + + '%&+ +%'%&+8 +3 + + +2+
2/++"0%&9.'DG0+0.&4'"
++0 =%9 . <+ =% - 9@ 
0+ !&< + 0%8 ;',>+ !+" 0  +'
  +% .8  .I3&' . &C&8 + '++ .
0@&8##..&%&"
+  008 + 008 .=% + C0
+++30'0++%0@2&=%&2
+&B+B&8+%'&0,-930@"""5.%
f JKK(6
&G0  &2  2G% @!  1' 3'9&+' =%
0.&2 + B+ '0 2+ +'%++ .&4'+ '0%!&+8  '+
'9 + .'%.% 0 3% %0 0+-  B& =% 24'%&
!0  .-8 %0 2< =% %; .   +%+ 'O'+ 
.,-2+!++'+"+!08'.@
%  0%&9 +0.&+ =% '0. +% 6$ . '0.9 4'+ +3 
E++++-F
JR
8'++3&'%0%.%'00<,-=%
/+'%+B&4+'+/%0+G'%&YY"
.;0+0+0+'&8'9
'+/%3%0%+G'Q'O'8%0/C'00
%0+.,B&4+'8'!Q!/%'+%0.+%
JR
!C' Q+ 4'+ +3 O +&9 '+ .& '+ '9"   8
'9"3#!H 2/%&8JKSR".*[L"
71
0+.0&,-0&&'8.;0.&8.+/-
.'+/+%+;++!+++++&+".0'98
0+'&+%&/N''+%0++90.@'+%0'@%+' 8
&3%'+ +%'O'+%,- . '9!83+.,
.-0+-&2E2O'&3F"
FJAH%CC
00<,-+0+'0%',-8 2+-
3&9  + ,>+ + B+ ! 0&  + !+ +'%++
!0 2+ 0 @+ +.'!'+8  ++0 + !%,>+ 0+ 4+
+B&+++'+"!!0.++%.B&+8
'+!+.,.0"0!08
. ++ %0 =% .& '+ E &/%/0 +% 0+ &28
0++'0.0+++!+%&1/'/%02%'4'.&4'8
...+F"++&388-.%&.++
+&0+++++8&&/02.++.,B&
+2'+=%.-&2.++!+
!0+;%+ ./08'8+89%0+0G.0+"
0  !'&  !%+- + !0,>+ ..'+
.&+2,>+'&1/'+80.+0.+&+!02+G'%&"
2.'++%0%0%08'2<0+@.8.++;/%02
72
N0' + B+  - + 0+ .++42& + B&++  / 9@38 
.' +.  + ,>+  '9/ 0+ + ''0+D 
'++@.%8'0.92&'2"
'+%&8'+/'0H-8!
.'%+ ++ 2 G''8 +% ++0  '+ 0%" ++ 2
.!& + ''<2 .& +,-  .!++&  + ''0+
+'+  0 2<  /< 3%%  ,-  B&8  '+ +%3 +
0+8 !=P2 &%/+ !+  03G0 + %+  0&/0
''8'&90&.+%+'O'+"?@=%%00%,'&
G''+'+B+ ++'%++0'0.92&'=%
0%2'.&!&D+0&/%++'+++'++.++&
0.++/00.G+'&80+!=P88++
G.'.'+.+/%,-8Q+2<+03+08+5hW 
())[6"+++.'8!.P++V'0$8..'2
 '+ %0 0+0  0.  .  ++  
'.''%080.!%/&2'+G'%&YY0.0+
0  ' %38   '+'C' /%  0. '0 020
;002&<02+'++G.'"'.++N+
2&++'8+'+++.;00+!1/!+-00Q
G.' 
 'O' 2&% .  '0/!"  !&;-
'0@8 2+ ++ ++ 0&  /C
!  =% '900  /  !%" ++% 
+9  Q ''%" &00  !/!'
0+'02"0&4.+++1+8G/
73
'0/@!':%0'01/!&+80'
2. &3+ !+82&9
!+ :8 0+ 0' 0 =%  . G .+/0
+'%@ +   + ''0+"
5hW ())[6
++0'2+&/B1'O'.&+G'%&YY
'0.9+C'+G''B&4+'/C/9'2<0+
+.,+&+"
++  %! + E&%'+F + ()8  /%. =% &%
&'%&  +'0 + 2/%+ 3+&+ 03G0 + 2%  
. '  'O'"  G' +/%8 + %+  +0
3+& .0 + '+ !'&0 + .@/+ + .'.+ @+
.%&++" @  8 +U&  8%& 8+&
0&00+=%=%&00++%00.0
=%& !&9 +=%+ + &+ 3+&+8  'O'"   0+0 - !'%
.+.=%82++%+!+'9/%++++2<9+"+=%
++ G.'8 2@+ +'+ &0'+ 03G0 + '0  /C8
&+8%3G48H+G4H+G=%5 ())R6"
++M)8'O''%'0%+'&3,>+.+8
+38.0&+%00=%B@0JKM('&32
+.'0'0,$80'+'9&b%<=%0
0+JKMM;'&3'0,$83G0
2<.+++'+;'&%+22+3GJK*R"
74
 .'.,-  %00  'O' '0 '< 0'
%0'.4%&Q.9+1&%3+&"=%0%+20++
2!4'%03&<,-=%&=%+0.3+&8.++++
0+   +  '&3,- '4% + B+8  &/ '4+' 
%8=%9BG/<.&, &#800[")))
5++ 0&6 'O'+ 5$  ())(6" 290+ =% - +   %0
.%,-0-3&++0'0!020+.%++.G'"""
FJD   KL  ML@   %   
N;O"
.+  0.& +-  'O' .&+ /+ 0+ 
&%3+&+B++.'.+'.+.4+8G/,-+/%
+0++=%2+'+Q'O'++0'0'9'0+9B"
02&2+'+=%8+/%+.08.++%
'%. + ,>+ + /+ @+"  &+ +.0  &9  !
%30 /8 .0 0  !=P + .@/+ + '0.C+ &@+
'0'+8+8%&%3-8%&+0.+8%
%838%+"
^ ++ .48 '9' '0 (    'O'
3+&8=%2!'.'%'&.++
0&+++E0&0!F-30'&0+B+.4+ 
75
 0 %00 =% & `%30 /a
3+20+ %0 , =% - G   '!/%,- 
0 'O' 3+&   +&8  '!&%C'  %0
,-8 /0+ '&@++'8 '0  .+ 0+" ++
!10%&! 300.%&0+5%30/
22%&/%++'+2+26D&+3!'0+
=% +%/0 + + M)  R)8 '0  3 
%&+0.+"^'0+50/0+6&/%/0
+'&40.%&8'&=%&'4++08
+0+%++0!&@8'0%0
.'4+0./0+0+" 5 
JKK(8J*6
++08'030!%'4'8!&'0,-
'0+2,>+'=%++.&+0++=%'O''%/++
+'+ 8 +3%8  /+  .I3&' &" G08 +0+ !& 
!,- + '+ +3,+ '0 .& '4'   . 
E0&4'F Q'O'. &+ /%+"^++.4 .%3&',-
!&90 ,  (  =% ! +.+@2& .& +&  L . L) 0&
;0.&+ .   @ 3 G" .+  +%'++ &8 &+ -
++%0  .  !&9  .%3&'2 + '.4%&+  !&90 +3 
.+%O0  %< &/" 0 '0  !10%& '8  +'
.%3&'%%!&90818=%!.%3&'0++B+
+ 0 / 5  ())R6" %'3%,- 0@;08 .G08 20 0
JKRJ8=%++%0'&%'O'+/("""B&O"
=%+0 %+/%.&.+%O0 +!&9+ '03&+'+ +
++2.'0'++%0'00++%!4'.1
%0G.'+,-8 /+ '0 +%&9.%+.%+
76
!4+'+8'0%!&+000&+3+'+%0+8+2&%,>+
'0.0+=%0''+/%0+G'%&"
++_[)_*)+,>++.'.+B+.4++
0%0+.G'!I/+'+&'%+"0+%/08
'%+.&++,>+0.++.&/&.0&JK[M8+3+&+
2%3/.'%3/+&2/%+/+B+8=%.+
. +0.9 !%,>+ 3%'@'+  + ,>+ 5  &"
()))6"++G.'.++42&',-G&0+'0
!!+ 0  ]8  &+8  8 2 H%=%8
'4&+8'+8?&&8C.4&8%<G8
<<8@+8e&+/%838@%+8
&9+&28&+?T8+8%&&8
%+"
 . %0 & +320 '3,+ .++  +
,>+8.%8+'++2&3;.++-"0.0%&/,-
+%'& g" R8 0 JL  <03  JK[S8  '+% ! 09 =% +
B++203/++&'+2<++++-+1+'++0+
'%+80+03G0=%&=%2+4/++C'"^!0+++
G.'%]31=%+&2%.%3&''+
3&.0+0>+.0.@/B&'0!0.+Q
'+%=%+%+'&3++20+!"
++ '&0 +8 &/%+ +'+ '+/%0 + +! 
'2 =%+&  % '% '0 +%+ '&3,>+"0 0 =%
/9%+=%++.4!&'+.'"
77
!&&''0B&+08824'B@
++_M)=%%0B20+%H8
!0  3 &/%00 '0 +%+ 93&+'0  +'8!3&9
'0 .18 %    /+> 78 1/- ' .&
.0  0.+  ./ 56" 0 +/%8 &' .++% 
'&3'0B&/7"%.'.,-'O'+104'!0
JK[*G&8=%'20/&3+8&'.++
+++++@3+%0'&%&"+'=%920%+
G.'+3&9'0+$*P0&&V+8+'2+3'+
3&<8/G&8B@!0+.0.+%+'+0'+8/++
++2!0&@+.;00++%+&+5
JKKR6"
0 0+  ++ +  .'.,-  % '9'
. +% &/%/0 E90G'F  'O' '0 ;'& '.,- . . 
.I3&'+'&/+,-G&".+0.'.G
B&./+%+;++0+8.!%+++2,+0+/
,-8 &' +.'  0 .&+ '&/+  .!++-" ?2 %0
+.G'  % 0   +% 0/0 =% /%&92 + .1+8 +8
+8G0+066#%82+.,3&9'0=%&!/%
0++" % +=% +98+ +E+F  E&+F8 2%02 
.+  + 0+ Q 2 '0  ++% &'  ' '+- .++%  +
'90,-E'3!<F"-+%3B&8
&+8;.&'023'

78
& . . '% . - . + /++
'O'+" - !< '1.+ .=%  =% %+ '3
  2< ;.&'2  G .=% '3 6 =%
'&'0@=%+'2"5 ())R6
+0 '%+ %0 ' +90 =%&+ =% -
'20+%03+'&9&'+.'++%0'&%%0
0  '0%',- '0  B&8 9B8  8 + +%++  3
'&' +- %N0+ 0 '9'  ..& '+2 =% + 04
+0.9%.E..%&<,-F+%3"2G+'O'=%&'
!%++%+''0/.I3&'/9%0..%&"
++_*)_S)!0++0=%+.+00
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+%&9.G'+3'''"++G.'822&08+0,+
=%+!&20+3+'&,>+.0.'32-+!/%+
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'O'"
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+'0=%&.4 =%'9'&".0++
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JKA)SAJK*JJJA)LAJK*(8+/%+'2.++%&
&/S)"
+0 '0 + +,>+ 0.++ .& /0 &8 
'O'++!00+.,++C''.+!&"0
79
%0+'O'+'&%?(?=%8'0+0,-
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0.G+=%&++ 
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5.%?8()))6
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&'&<8&&%.&+E+9%0+F829
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`"""a5? ()))6
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5()))6 '0 + %0 00  E0&N'  .+F + ,>+
B&4+'+ 
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'00&/.G'+2C08.8&2+Q
80
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!!+0]&+?T'0%0+0+!&<+
!,>+.'O'"
+=%+28.%0&/.48 +B+8'O'
++0&% 2&'  +!0,- ++ 0  - + ;% 2' .&
.+,-!0&/&/&@'&"
81
+.'!'0'@3+&81/C
+ '&0% + '8  'O' 20 + '!/% '0 2
'%<&9.+03++G'!0+++'+'0.N+"
+++82&&030/0E'1'F2+.&'4'
H+G +&&     + 'O' + /C+ &@+ '0 
'+%+!+ 
 +G'%& YY + '/%  !'  +!/% +
/C+&@+"''++8 '0W!V8/e&!8
/+8 HT'8 %+8 'V  .+8 '0 ++8
+&9,0 =%&+ '<+ !@/+ =%8 2'&+8
.%0  &/  +G'%& YY" G  ! 0+
+1&=%+.2++/+/C+8.+.+8
! 0." ?B8 B@ - .0+ !& '0  0+0
+/%,.&/0'8B@=%+&0+
0' 9+1'8  %3/@!'8  .'+'8  
!0,-8  %+8 G ' 2< 0+ !&@'"  +G'%&
YY+3.&%'0%0.+/00%4+ 
+'03+83&<+2/+8+,+8%0+.
 =%&8 9B8 +- 3/+  . + =%&+ =%
+B0 +'2" `"""a &/%+ '4'+8 0+ ++.+8
.%+0+'+%'N+&@+8+.,8
++08%00%&0=%+0."+-'+%
.++.1.+'0++!,"5 ())L6
0 30 0+ +&&8 - G  9B ++ .'++  93<,- +
/C+800.%';'&%+2'O'"G08G+++.G'E.0
.3F  % =% .0+ '  0 10  . 2@+
+'+.+2&2+%+;.0,>++'%+"%+&& 
82
 1+8 9B8  !'++ + /C+ + ;.++8 
00%.'%&.&!,-'O':&%/
. ;'&C'8  %+C'  /C"  'O' % G
.++42&8  !',- '&@++' Q 0  &' +.' Q+
/,>+ ;+'+  %0 &9+  &28 
&+0 +.%  %30 / Q !&+! +!,
0+!/%0%&+0.+".+&+8
'O'3+&%+&%/;.0,-:G
- 0+ % 0+ 30 +%' =% - !/ ++
+"7+2<+3/.+;B&4+'D%2<8
 '!++- 0+ +'8 %  +0.&+ 001 =%8 
28 - G - +0.&+ ++0"  'O' .++% 
+<%00.++:-.'+.%<-=%8
I&0G'80%&.&'++.@/+0.+8
&+'%"'O'+%&%/;.C'8%0
&31D  +., +0 !08 .  =%& + 2&9+
/C+'!&%08B@+O!/+8B@!0+.%0+G'%&
/  +%+.+"+'2.++/%8
+0+3 =%+B'8%=%.'+%"
1&9++%8+%B=%8%003
Q+ +'%+8  ++0 + ;.>8 + ;'0 8 
0+00.8!  /:=% %'29
+0%'+.=%+@!<"5."'"6
+ '< . .& '4'8  +.  !% 
'O'8 + .'  +  O'  / 0 + '++"  =%+
&+0+.+0++32.0'O'3+&8G
'<'%0+'O'+2++3.++42+8.2@2+'@2+
: Q+ 2<+ 0  : !,>+ .  /C" +    +.4
0N''&+ %0 H+G&'&%Q'++ '9'&
83
+'0+,%/&.!&0+'9/%0'+++3
 =%+-8 '9/ G 0+0 + /%0+ 0+ E.+'G&'+F '+ .&
'+ &' +.' .22&0.+ ;4'+  0+ ;4'+'!G
0%/   '&%+%  +% .0  3 ''  0"
+&+8+&24++0+;',>+8+.0'0+90
&3;.++-..'.&'O'"
0;0.&'=%.0+<4%& &%+,-
++E'O0F@2'G'+.%&&"2+'2
.$803G0'4'%&&'3%.2&G/
%0'&%30/+..%3&'+%+'O'+"<+.,=%+
+%%.G'+8%&&88B@.0'O'0+%
=%2 
% '2 . +'2 'O'+8 =% /%G0 +3
  =% G" + I&0 !&;- 0 % N0 28
.=%8 + /%G0 +3   =% G 'O'8 .++
+'2=%0&98+0'+''9!
,-02&2/&'03+2,-=%
E+ - G 'O'F" `"""a  G 2 =%  'O' G 
'0%0/C080%'+&'+!'
08+-!'&=%&+%.+0
+.008=%%-+=%G"`"""a0&B@
2.'38+&/&/G.+%/&9=%
-+.0++'+3++;".++42&
.- + '9 0 / 0+" !'&0 2
&/%0+ '4'+ @'+8 .+ 0%+ + '++ =% & +
B+  2B  &2+- 0 ;0   +0%/
'0 0%+ 3>+" =%  .%  !<C& 0
.I3&'"++800%+'+>+&-'@
84
=% 'O'+ ..0 8 +08 +0%/+" 5 
())R6
++'&0@&/!'3=%+'++
.0 2/0 '+%00 '0 +% '&3,-  2 !4'" 0
/+.+>+8.+!'&%02+-0%+'+%
+&%&8'+3+&20'%&2+%+.,/0.+"
+ 0 +0. + 2+ +- !2@2+""" +0 '0 
'3%,-  /+ 0+  &% 3+&8  'O'  9B +!
'0%0++C'.+'9''0%0/C+.'4!':%.+
0+ +.'4!'8 - + %0 E-/CF\ 22&0 + 4<+ .!%+
++++C'+-+%/0.%'3"G++.@/+%00
'0%',-%&@+'@2&8B&8++E+90&FG'%&2
0'%0+&@"=%&+=%!0.0.+'@'!4'
+ &+8 & ',- + '@2& .  +.4  +" - 3+++0
+++ E',>+ 30@2+F 0.++  /C '8  .% ++ 2&
/1' +' +3 .'9!&9 3+8 !%+  &/ & 
; !  ! /%.&+ '&9+0%++.8  'O' G2+
'0E'0@&/+.++%+'+82<%0&/%/0
+0.&+F8'0+E&/F+/!'++E+%.!'&F8E++%+'+F
!++0-+0.&+0E&2N'+FE&/%/0+0.&+F+O0
E&/%/0.3%'+F"++''0'4'9@+2+8
.+802+ /&=% /C &',% + +%+'%&+
3+&+8;'&C'+&8!,+G'8'O'2!/%+
85
.@/++9+1+&%3+&8-++0.&+0'8=%
0%80+.G"
^ '%+ '0 0%+ 2<+  +'%+ +%'&< :
.'.&0 +%'&< :  '4' +.'&< .++  &/ 
!O0&=% 20 + +!0  'O'  +&".+'0
;0.&.@'++.+4/B%&3+&8&030+=%+0+
%30/838&+%00G0+0
+0.%&'9+++8=%+@+0+2+'++.4+"
& =% - =% ! =%  /%0  =%& &@ : &/%+
+%+-'++!c:3++/+'%80%0+
.&+.+&++8.G0!+'O'.'%'0
!=PC'.&.I3&'&8%'%0.!C'.++!&93++
&43+&+"
86
G"
0 0+ 0+  32 .0  'O'
3+&8&/ '.4%&8 .;0,-+'+ '0 0
B&4+'8.'+/%8'0'O'8!<..'++!0,-
0%+%+3+&+".&+.+./!.%&0
'+/%+%+.,+,>+8E+'B&+F'=%+%+%&%/8
&/0%+%+'N03!+'%+B&4+'!<+%!4'%0
0 .  ../,-  +%  8 0 0%+ '++8 +!0%
'0.0++  +'2 +3 '0 0 %0 &I' ;'4' +&4+' .
.;0+  %0 I0 0  &+" H@ =% 0 0%+ +%,>+ ! 
B&+0 =% 2@+ +'+ '0 %0 +&2/% !' .
'%+%!4'8'O'&/.++%+&.=%&++'+
=% - =%0 + .  B&+0 @  !'%&8  9@+ !;+ 
9%0++'9!+"
%0+/+0+'O'3+&8%&+
0.+8  !@'& +'3  .=%C  + +'+  Q 'O'  
/C+$E.0 &3+.,8 &39@&3 
++% C+.2+%0+'+1F"&G0++E4.&'&3F=%!&2
'+.0&98'+'40+0+%+2/+/C8
+-&+82+3&+'+%380''0&
.%,- %0 &2  %8=%Q+ 2<+ . &2&/%++8  =%+
87
.'++0.0++%8+.,3..;0,-%0
0 .++&8 + G8.++3&  %+  %0 .0 ' 2<0+
0.+3B20.++& %0%+%0+3+&%+/%&c
+'O'+8++.++&80
.;0,-'0&8&2+'%+++G.'+,>+B&4+'+8=%
?&?&+'+/%%+0++%&,-'0/.I3&'"
GD4%;
 !&  +G'%& YY8 '+ &2 &' B@ ! 
0.N'2&+B+.&/-+'+=%'2+,>+
+ @+ %0 0  +322C'" ++0 '0 2@+ %+ 0+ 
&% 3+&8 ?& ?&+ '%  '2 . +'2 0 %0 B&
02.&++'+++0+3+.+%+.%3&',>+"0%03
'G'_R)8+'2.&B&0JKK(.
'3%+0&0'0+%+;+8?&?&+B@%0%'+/
.&'4'+.'&<"
=%+ '&0 .+ %0 +&2/% !' 
+'8 '0  0. 2  +8  8 %0 .!4'% ;'4'  0
.;0,-  %0 .I3&' 0+ 2+  =%  +& /%.  &+ =% 
'0.92 0 +%+ &2+"  .'.,-  ?& ?&+   8
%.4JKK(JKKR8&G0'3%'0+'8!
88
%00..'++!,-+%&/%/0.%0+0'0
.I3&'&"
0%0+'%+2:+&2.B&
0' %& 9&+ :8 ?& '+/%% ' %0 '& .  +'
'0.+ +'% 0+ =% G - 0 2'%&+  0.+  !0
!'&8.+!02"^302=%0%++&+
8   8 - ++0  0&9 ++%,>+  &0 0 .&
09-  0/ : .+&/%+ 0++ '&3,-8+;+ ?&
.++0  + .%3&'+  +/%! : + @'+ 'O'+  +'8 .
%&80%+%+&+!&'20B&.&'2'
+''0%0+%+'&3+"
/6Q-02/+'++4'+G'%&
YY8?&?&+''+0+3+0+%+'O'+'00+022
'%C'  +%+ +'+ !''+" +  !''+ + '!%0
'%0+'%+!,=%=%+.+%.4+'=%++.
 +' 0 0 /C &@  0 &/%0+  +%+ 'O'+8 
+'+=%++3'++++0.&280E&/9F8
.++0.++.+++3%+0%0'+"
&<+  0&/%/08 ''4+'  +'
9&+8  % < .  N0/  +% ;  + 'O'  +'
3+&  '0 !&  0+ '0  .4+ 0 .  + 
2&.C+\   +  '+ ?& ?&+8  +!0 4'+ 
'%.,- .&4'8 +2+  23+8 I'+  .+08  '0G' 
89
!2+'..&4'.4+8'"8.%0/+!0,-
2&.'%2+++4'+"
+'+'0..&;=%0+!.'0.
+0/1  0@=% .I3&' : % 2@+ +  % ! 0, 
+.B . - '+/% =% + 0.++ 0%'.+ :8 +++ 'O'+ +
.;020&22.4+ %0&'@.&4''&0+
=%'%&0%0!+JKK('00.0.+&&
&88.%&8%0+'=%2%+.++'%.
!/&.'O0'.2'.&'!+'+3+0@+..%&,-"
0+=%+++%+0+'O'+9&++.++%0
00 9+1'8 .'+88 =% . +!,  /.+
90+ .I3&'+ + .4+ ++ ' .++ 9+1' '%@ '0 %0
!+0'+3+&+8!=%.3&+++;+%+"
+++8%0+.'=%20+&20'+,-
+'O'+?&?&+G%00%,.+.'2'&'0.@'.&
&,-     /&9! '0 +&+ .0+ 0 +%+ ;+"
++'0=%!=P0+++%+0+.&
0.+ '&8 ?&?&++%32 +'%+ 0.&+''+: 
!0/'0C+-02/Q=%&G.':%<0 &/%/0'& 
'%+00.C'+3+&+"
0 'O' .%3&' 0 )(  B  JKKM8 .0+
'8&%/+'+%0+3+2+=%+'28%0+3!
%0+''+'0&00+3.4+ 
90
0%8&"++1+%+2++&%'%33
2G=%%+B!&<2.0%`"""a"
c  42 ;  4+ G  iJM) 3&9>+c +
'&9+ %30 0+  =%  42 ;   
+&c9999999999cccc+42C0+3'9+<0 -
+.!0''8'++G++-+!+
.&.02<8420&E2B30F"-82B0
308/8=%G=%.4+22'/=%
!%3\^.'+.20+=%C\b%<=%9@
 %0 G' .&4' . + +=%+ 8 . .2-8
<\+0.++2C0.9809-0+0%
2 + '/ 08 =% E&+F =%0 G %
.9".0<=%G&%/'0%0++0&9"
=%2'C+'90\'90=%%2+/&< 
% +@  308 +9 0=%+8 '0 + +%+
3'9+8 .+8 .& .0 2<8 0+ %0 .+
.+"%308+@480++>+'%0
=%G+0+8+!0 .'8- +%'90.98
+% +&0-8 +%+ %!+  +%+ %+  / 03G0 .
'%0'0."2 + %0&4'+++1
!' '0  !'  +% +& '0 +%8
+.&99 39 =%" 09-8 + % !' '0 &.
5%+ 0&2ccc68  !< %0&+9 iJ ..++
+0/+80+0920+&9+ 0
++=%90-88@.3Q0@=%'0
=%98  0  098 @ .  8
2&98@;=%c@;=%c^++0=%!<0
'0 .2+  .+" + '0 + .%&9+8 + !'4+ 
'&9 3'8 =% 0  31  .2-8 9@  %0
&%;  &'<+8 !&/+ ''%+ - 3<+8 
=%.9&+8'9++4=%-+3'0
!.iJ0&9-'9&8!'%-0/9
'989c&G3-c&G3-c0I28
+9+8=%G.'+'+20''80+/&<08
91
/&<08'!+=%0+!%++'&9+=%%30
 .2" % 2'C+ +-  3 =% ' =% &+
/90   A% =% +- +3+  '0.9\
-&/%G0@iJ)0&9>+.2'C+.+
=%&=%'+8%.%82'C'9=%++&/%G0=%
%-2'0&\G083'9c&=%2
 '0  &c % @ . &@  !%8   ' @
303">+\/+/%G&'+=%8++
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0  +'%+ 9&+ + 'O'+" ++ '+ +.'4!'8 - 9@ %0
E!'&<,-F  %0 !8 ?& - '3  & '0 %0 2G% 
.'8 +.'+ +++ =%'0%0 ''<0 'O' +/% +
.'0+ 4.'+ + +'+ '++ .+ . @ 5JKK(6" &
'@8'0%0+'%+00'&+8?&''00=%+-.>
%'@++.,=%++&%.4+"&/%/0+.B8&2
'''+0+8 &%' 30  +%,- .&4'+'& 3+&  '%+' %0
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.&+0+!'++'++++%303G0+++%+
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 + /+ =% 20+ '++    8
2@+0+0%+'++'O'+'0,>+G3+.0+
'@&'%&+.!'9,00C+'9@' &G0++.++3@+'+8
.0+ ' ,>+ !+ Q 0%,-  '&8 =% '9/% 
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..I3&'&
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+- 8&&83=%+:G'I0%&%03''3
M[jB%+c:+=P++8.%+=%C023
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+-':'+/%00.G+0+&@0+0
'N00+0B%+:5ccc6: '90+&@0+
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+%,- 3+&%0 '&0+8 &G0 =%& +%/+-
@2&  +=%- @'  ;04 =% &9+
..%+8 ..9 %0 28 03G0 +1 . 2&99+"""
%+.+"""03&/@'8=%&\?@/+.%"""
 '40+ 2&99+ 0/4!'+8 +9+8 &+8
%0+ =%%+ 5=% !<0 =%%+6 %+ .''++8
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'0-'+/%+%++0/"F.++@=%-
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.&\G+1.%0.%'\^-!4'&+0.+
 9Bc %8 . ;0.&8  2 2&99+
+&%03+'0%++&8+80%%+8
'9=%40+"""&9=%/,=%2'C!'%c
++=%8=%G\^=%&"-'8!'%++0G\
40+8 40+" % '+8 /8 9 .+ 
0 '0 /9 9""" b% & + 0.@++0+ +
B+  0 % . !< =%&=% '+8 +08
.=%+B+0%20'++
20+  0+ ++ 0+  =% =%&+ .+&9+
/@'+'4++0+ 'C0" +@ =% -G 0+3
3+  '\  .+8 /8 O .+" '
+%/+>+ . %0 .++42& +'"  + &/%G0 =%+
0 '! .& 'I0%&  3+'+ =% 29
+%/8/++'!0&/%0&%/'0
+&98.=%8-+ +2'C++308'0-8
/N' 03G0 /++ '0 /0  4+8 0+ +
&/%G0293+.'0.&2
;R8 0 '905% -
'0.8%368+3=%0=%C+22@+
.2&G/+ &@ "  %8 '0 !%   @& 0
'0.9  0=%C+8  H9 +  9&+ 
'&+8'00%&2F44#%803G0
 + 0+0+ .2&G/+8 %&0"  !0 ++ 
E2%.'&8%+'++8+'298/%
%.8 (8 '0+8 '&,>+  +8 '+'+8 %.>+8
2@+.+3++.+8.'9+&8=%
+  !04&8 ., . .% + .+
3'+8 &0!+  2&%8 '&'9>+ .   '0
0+'!@2&8%0'&,-'9.G%+8C+!/N'+:
@/%+8 @/%!&&B  @/%'&O :
. + .!%0  %0 / =%  2&+ 
94
&0.+"++0'++@+8.+8'@'8
0J*SM8&2%03G0%033&'JLL2&%0+8
 + =%+ + 9+1+  ?%08  3 '0.& 
G&80'+&/0&&8 8+.,+
0&8 &2+2/0 +3V %/2&&+
0++%&8%0(S#0+J/
1+F" % '+  &90 +1  '0 +&9  E0
+. ;'&8 %0 +%'%& 3!8 %0 ';  !/
./ /% 5%0 2%  +G'%& Y68 %0
.9  &''9!+ !+  0+8 %  +.!8
&'++ .C+  ++8 %2+ !+'+8 %0 /! 
2&93/90&9'!GF"
'!00++08+9+8.!2"^I'0
%+322"5?JKKS8MMM[6
+'+%0 '0 09 %+8  & 3+&8
+3%  '0.+8 - +2 .. . & I'+ !+  &
00%0@0%80.%'8.&+.@/+%0B&8'%B
&9 &  '9'0 0+ '&8  0' %& 9&+8
'9'.&+.%0'0=%'+%023+0+0++G+"
 ! G =%8  4'8 0%+ +90 ++ E2
&/%/0F + ;+   8  8  .%'+!0 + =%
0  ..+     ?& ?&+8 %+B8  '9' % 
3+.&C0'+8+'2.+.,B&+2Q+ 0+
2'.+.&&9'+"
+%&++%+8.0'18B%,-
 @/%  2/ ! %0 +%'++ & =% .2' 2B 0 0%+
'++  G.'  %  'O' 3+&"  +'+  B%4<+ 
95
8+'+,+Q+,-3%'+ ,-
0% '0.+
JS
" + ;+ +%.+0 /C%+8 .%3&'+
+0&08 ?& ?&+8 &G0  E4.&' 2/0F : &3  +.,8
9@  ++% : . .%& + 0.+8 '+/%% ' %0
23%&2+,-'+8;2@+2<+.1.
 B&0 +%,>+ &'+" + +'%++>+/&0 /20 0  
&/%/0 %+ .& '+8=%+/% &/%++'++0 '9%&"
0%0+++'+8%0&;!%'@B&<+'.''0
+&%8'0.%0&9/0'&'++8'%+
%&<!4'+.%'/++E/+'+F 
% ''%+  &%+    . %+
G'+B0++'Q./!.+%'++50
0;0=%!<++8'+.++6"%+G'+
-.+0!'++"+/+'++8'0&4
'+8O 8 %+@=%0+8 '4& &+
8 'T +8  8 '" B0+ %+0 
./! .   0% '-" 0 &++
2/+++0.+0+'%&0.<&/%B"-
9@0&1/'0'0.0+'0
 " b%0 .'%  ?#  !< ;0
3%+'G0+0&/%/0'9%&.+
./!'&'"H@=%0++B&.
&8 + + +8 %0   0%8 + /+
''0+8  %0  '%+  28 + !+
.&'+8&,-!&'0+8'" 803G08'O'+
&/+" b%0 . ./!8 0 &/%/0
+'&1/'8 '0. 2++ +.'&<+8 =% + 9@ +
0+8 '0 !+  % =% 9@ &2  ++%" 
JS
!".0+'0/?&?&+8%+802+6"
96
++B&B0++++.&+!++0+
 ?& ?&+8 '0 3+8 3+ % 339+8 '0
+%+ +.'2+ '&3+8 2 .&,-8 .% 3;"
&%/.+;2/N'+%B+&@+G&28
=%'0.=%0=%.=%=%;0.&+%
'I '9!0"  ?& ?&+ %+ 238 % -8 G
.3&0&"5 B"8JKKL6
3208&0;.+++%.-+3'I
B&8+3%+++c8.G089@&/%++.'+++'4'Q'+
=% .'+0 + +'%+8 .+ %'0  .'.& '!   ;
9+&&0G3+&".+.+%0.-2%&8
'4''0G'+&+.+++39&+"
 .0 =%42'  & +@  '0.,- !
+2+0  +% ?& ?&+  + %+ '++ '+ . G
2& +. . .  / ''%+8 '%8 %' /
+'9'0+3+'""".+8+&20'+,-3
%8+'1+3&''0.,>+'O'9&++
'+ '++ '+D % !&9  & G ''3  '+
'0.N'0%0E&+2/+F8.''0&8&=%&&+
.+8-!&2'3-2/+0+=%.&+'+++G'"
Y" 3+ 9@ 0%  0.++3&  %0 +' %8 +0
'0,>+ .& +%3B2  .&+ +'&9+  3+2" 3 ++
;'++&!.&&8'+8!0++
+*) !++.0&98'+2++E'+&1/.F
97
%00&Q'O' '9+3+,>+'0&89@+0.
+9++.&-c8'+%02&03"
+ 0 +1  '4'+ + !<  '.,- + 'O'+
9&++8 2@+ &+ 0 + '0 E3%;  +  &F 03G0
.'.20  %& .+&"  &/%+ ;'+++ :  03+ + &+ :8
.0+';+'0+ 
?&?&+2'%"03G0"?&2&
+%  '0 %0 % =% +.+ 0+
'0@+" 0  %,- + /+ +'+8 &
.2'!+'020'0%',-'0
.'++89B2+++'%++>+0+%+.,
 "   '!0 +% .'&  0 
+40%&"?&?&+G+0I2%0+0+++
 4+  . ++0+0 0'  +. `"""a"  
+3?&@.%&+3C&"-
00+=%0/.'3'4'+G;'+++
  . .  &/%+ &+ =% ++0 0 -
;/2?&"+0.=%&2
+ +'%  .+" ^  '&',- + .+  2+
2++ =% 02 %0 30 B&  03G0 %0 +
'2'0%2"?&G+%.08.+0+%
 + !< ;/  1+" & '%0.8 '0 + /+
0++8 ..&  0+/8  1+ 20+
0+/01+0+0+"?&+"0+8?&
+2&"&G00%&G0!'&%"?&?&+
=%'"&+3+'2'0=%0220JKKL"%+
?&?&+02B!+'28'
3&&%++0%&9%&23"+!0
%0&/%/0++K)"5 B"8JKKL36
98
+=%.'30%&+'9&+8!@'&!'=%&+
&9+.2'+2,-..+.&%"-92+.,800.
.0&3+0+1'+"&/%/0920+'0+.4
+'++8++%,>+"
 '+0 =% .02  '@ .&4' +
'09..2++.+. 02@+.++/+?&
+!+2&2+0+=%0+'%.,-'0+E'9+F8E/
3cF"""  8  8 - G ;'&%+2  +%+ 'O'+8  '@8
'0.9%++%+.0++'+0.+%+'0=%
0'/++%&9.'%&+3+&,>+9%0+"
++ +.'  +' 9&+ !3+2 .& !++
k& ' . '0 / %!  0' %& ?& ?&+8
! .. .  .+,  %  '&N =% I + '0
0&9+ '+ 3+&+  +G'%& YY"  + ;+ +&'+ .&+
'G+'8.'%0.G&'4+'9&+8=%03G0!
.%3&'+'O'+'0.++82+7 
 '  !%% & - 2"  28 0  "
- !'% .+ 0 '+  '8 '/%8 0-
'.G+8%+'0.&+&83'%+'
0&8+&/%8!++&8.+%1'%&+
&%2+ /&'9+8 !'% .+ 2  =%8 O 
!%%0'&N'8'+&&8+'+&/
+.'98   ''  !%%  G =% +2\
92+ ,8 '.  0&,8 0&9, +
'+/%++ '0. + .'9+8 2 %0 '+8 O"
b% '+\  ' 0 / =% '0. G 3+
99
03%&98 + &2++ ''98 +8 9 0+  .G -
/P2     +&     Q 3
l@/%+&/8'+..8+!'+020
+ ++" % 0 '+" '%8 2<<8 %0 ' &
+.2%+%+0&93'8-%0
 -8  %  =% O .++%8 +. / +
+/%&+ +  !&98 O '9' %+ .+8
'9 + 0-+  '<8 + %  +!/  %
3=% %0 .%'  !' &8  2 &@8  %0  
'0.280'<&4/%!!&+.,8+0
/'9+8  28 / + '++8 28 / &0. %
0+0  3/8 % 0 2  % +!/ + %+ 0+8
=% &0.+ % !% ./ %0 .%9  0+8
/ '9/8 +.&90+ '0 '% ++ 0++ 20&9
 % '8  3'9'98  3,8  +' 0+ .
+'  ''28 1'%&+ &%2+ /&'9+ G %  =% %
.'+8+'0.0%20'0.&@ '8
.+3%+'8+.+8'%+8+.+!<
'8 + '3&+8 2&  2&98 ;0 '0
! ;40 '9'  0-+8 +9 '0.8 O
0%Q+'++%0+'+2&9+8%=%.++%48
0%8 .=%8 &'8 %0 '  0-8  + 0%
=%'092"5 ()))6
-3+++3+%!',-900+++0.+
E.1+0F=%'0+:GO+%'0-+'!+
%0+&:8;=%!.%3&'B&8%;%0
=%0'3009&+E"" ++++&-+=%80-G
%0'.&++.F5? JKKS8M)6"
   900 '0+% +0&9 +0. ! %0 0
=%+.%++%88+.+0.+'O'+8.'+
100
=%&/-.+/++&+8+'%.%&++8=%93!',-9&+8
'% '0 &%2 + +9+ .I3&'+ =% +- 0 +%+ 'O'+" !/% 
.2=%82/8G,++'+!''+8'+%
%.&.&+.+/+.&4'++'O'+8=%++0'0=%&-+
0.0'0+0+./3+&%'+!0".&:++0
'0/.+&+:8+!+.&5!%6'O0'.&B
0+%.&B202/+.+-+%=%.8?&!0%&
0+%+'O'+.%2&0&.4+ 
-.4+G+=%0iJK)3&9>+.>+8
=%B++1'\+'B\=%
-2&20=%+ !+=%\=% +3+
++++'&9+-+-2&2+4+\=%+
N0+3%'@'+ +- - 0+ . .% &>+
=%;04+0+'&0\.=%G
- .9 0./ 0.++ .  .2  - &
02&=%00.2\
+%,-.4+Q33+080+8'!08'%0.&'
0@=%.I3&'0'3'%.,-8.'%.2'+=%-'+/%
280+%0!%%.1;08%0+4.3+%"+!
E+0%9+%G.'F8..=%!++8-+02'+"0.
 + .'.+ ''0+  .4+8 ?&'2 +%+ 'O'+'0 %0
0.+/,-8Q+2<+++.,80++0.'0=%
+%!$"+!.++2,+8+%+'4'+90,' 
+ +@+8  .=% .  .N0 +'& 3+& =% + +%+ Q
'%+  &/ 3+ !0G&'" 0 + =% + 0 !/% & + 'O'+
101
9&++8 !  ;.+ 0 ' =% Q=%& &% ++%0  .+
0+.&C0'.&4'3+&"2&20.+1+!0+8-
.+ /9% +=% + .@/+ + .'.+ B+    .4+ 8
6#++<03G0++?&"0+%/+24%&E0?00+%
2&F8?&<%%0000B++3+& 
c b% 2c  .+   %  '&'9c
b% +%.c 8  0+0 0.8 =% /,c - G =%
.+ 03G0 +\ % .+2 =% .+ -
0+-0./%G0"@0%+.
=% 0% + '3  3' . 0 '+8
'0<09!&''<90/&0"@
0%03/ ++.'8+=%
/@& %+%/ 5.6 &  EF"
b%/,G4+8-G0+0\<0=%0'0
=%80++2<'0%'03+=%
2+c b%0 +3\ %   +&c ^ - !+8
3'80.2+42&8&%'8-'!O8-+G=%
0%+++=%<80++0'%&.80+3+&"
0&93+&\!4'&"'G!<2BQ&</&+"""
.2'&0..4'8'+03G0+!<++%'@/&
. 
 %8 =% B@ 92 %' + 0%+ ;9+ .O+8
!=%2&<2=%02,+
0 .B+"  2 0 - /%8 - EF 
&0&8.+ +@=%%8.+82'
 2<8 %8  =%0 + < =% +% E2&99 &%+F 
0%'%8+@=%.+++.,&/%0
102
0,&0&8  +3  ..  0%
/&9\%8=%9@++-2B%03+%/8%0
/+8 %0 .%8 %0 <8 %0 +8 %0 '03-8 + =%
.++    34!' 2+-  %0  %3'%
!&%""" 9998 'G%+8 =% +., E 0F 0 % 
.+0cb%4+cb%!0cb%/+c
b%+%&<+cO.c
 2&% '&  %  /%0+ . + 0 !+  +%
'2+!+E./@!'F"+&9+.'0+'+%3;=%
<E0+.+++_+]+20cF8&22G%@!9.'+
'&"""
'+@2&8 '+ 2&  '90 ,-  .+
.+0'9'0%0.+1&+0@2&"002C'8
'+@+%'8E+83&9 -'0/cF 
?@ &/%+ +8 2G+  0.+8 +%3 =% &/%+
'08 %00% &; 9+.&8 0 &8
%0 "  20" %2+8 B2+ +9+8 
;3+@/+.++%04+%0.3
 +. '% ++ +%.  +/%&
+" %+c ,0+ +13+8 +%+8 !,0+ %&+8
'90+  303   +3 `"""a" ?@  2 %0
9  !0+ +B2+ %+8 0+ %' .
2+&3&+%/%&++%
.8   +D 9-  2+  + /&9+8 +&.'+
=%&.08=%G++8+0+0
&8%0'9%+03&+8.%&9+8'!+8+=%%
  - 2&2%  .2 JK) 0&9>+  1&+ `"""a"
+/, 4+  %0 .2 !0G&'8 +!.8
103
8'.-+%/%+c+/,.4+
 0&9>+ - C0 +=% %0 '&'9-  .&9 .
08 0% 0+ 9+.+" 4+ =% + @  &%; 
;.'0&9>+&+'+8%0
EF + < =%  '  ++ G !=P
0&&&&&"+/,4+=%!<3%''+
0&+00. E2=%%08/8
4%'3+3!4'!&'"%4\@0
G\%002/-"0.GF"`"""a+08
.+ %0 +.++   Z!'8 () 0&
'@2+B<0'G%3-'+=%&/%G09
&9+ 2 %0 +1 " - &9 .' +98
+=%+8 03% =% =% + .9  '0 +
+.+ %+  &;  9+.+\ ',8 9 
20" %999""" ,-8 0%&9+ ./%++
5.&2 '0.+  " /%   /%+68  
+&' . +%! + +  - + 20  / 
'+%09c,-8'"'&0+8
0/8'0+%+2+5+=%+20Q0-6"0++"
/03080'9003+'.<2
+'=%8+8+08+'3+8=%-
''+"
104
GF
0.2'!=P+'O'+?&!<'0=%
0''+-8%0/+3%-+'O'+&2" 8
'+!++!'0.+!',-0%0+1'.+/
.! E0F"!,-.''180+!0&9
;.++-'.&+'H+G%<%+80/%8.
+!Q'.,-.I3&'&0&,-Q'O'?&?&+"0
  0+0 0. .&+ &+   8  '+ - 0
+!,+..2'+%&'%0%80+0=%!++'0%0+
2+'3'%G0+0/,-0&/%+"
0+%'&3,-'+'00+JKK(8
- 0% 0% . =%  .I3&' + 0!+++  0 B  JKKL +
.@/+!00+.'+0+'+&+"
9'0%'=%+%'.''0  '&%
 .%3&' + +/%! +' . ?&
?&+"%+++B&9@=%+++8+%
++2  $   D ;  $ . ++ 
 8 .=% 009 '++ /+20 0+
"09'++',+'0JJ+
'0./0B&.&2-''&%'0
++'+++'+.?&?&+82'C-'9=%G%0
3;\  008  B& G %0 0  '0%',- 
105
'%&%  3+;0.&+8 0/ %0B20 & ++
'++"  ++ =% + B2+ 220 .'9 + +
'+D .+  %0 B& .%3&' ++ ++8 &+
20 +    +'2 0 =%&=% &%/ -
'9\2'C+'90=%+G%03'98%-
/+8'9=%0&/0+I&..'9%0'&%
 B& =%++ .&2>+" +   +.+
+'0+0+.,+'&%5"""6"
.&!8&/3;Q.%3&',-''+ E
: +3 ++%9@!+.+2+"0+'8?&
?&+0&3;.++-8=%B&-''F
JK
"+!%-'0
 +.+8  & 2 =% '  !   B&  '0.  3/ 
.++%+!'9+'+"G08B&-+2+<9++.+% 
2@+&+03G0+0!+0!28''&0.''
0.+"+G;/200?&?&+.++3&%00%,
0&.23+&"""
^ '9/  9  + '3 '0  9.'+  '0 +
!&++.>+0&-009B0"%
!=% '9' '0 %0 ./0  &2+- +3 
0+G ;0 =% 22  ..%&,-  +8 '0
!&'0  0 & `"""a +++ .+++ =% +
<0 '9'+ '0 + 'O'+  ?& ?&+ 0
9 .  0\ <0 &/ . 0<
+!0+0+3+\`"""a;+0'++
!+8  8 =% 0%+  1+ .!0+ /
.=%8 . &% '8 0.&' +0+ + +++
0%9+ =% B%&/0+ - '9+D .8 '' G
JK
!".%,-'6"
106
0% 0+ !@'&"  + 'O'+ ;+ %0 +&%,-  G +1
- &" 0  .@/" G08 + ! . =%+ 
0&+3+'+%0+-=%!<. ;&
++B++&8.=%+1++0+-+&2+
I0+ 0&+ '+ 0 ' 4'8 + G8
./%0'%0c
0'+'C'+!+=%&/%+&%200.'+%!"
%+&+80+93&++'0 .&282202+ !.+8-
!+=%+'O'+?& 
& =%+++/!'\;8.&2>+80+
%"""; '&++!''0%0'++900"+8
G'+0&`"""a"9008=%;+8.+"%.+
=% .+" 8 + .+8 - G 0&" @%%%%ccc &2>+ 
'&++!''0%0'++900"+-G'+
 0&" +  %  '&++!' '0 %0"""
0&c;.&' +;G0&D0+%G5G
0+0c6 : 0&c - !'% '&8 &\ 2 
cc
b%&+Q.8=%+.;!'&0++'
3.+&G'++@&/+'+30+0+2'+
'0  ..&  &'%&  +' 3+&8  .1. +%  !<
4+'8&3;.++-+0+'0%',-8'"++@=%
+., '  '+ +   . + +'%++>+  ++%+ 0+
0++\ /% !0  +'8 '+ 9@ 2@+ +8 &+ ?
T8 +0c  +.,  '+ . + 2+ '0 I&0 =%9- 
107
''+'%+++G.'+0+'0%',-"+.&2+
'+ 
 0.+ 08 &0 '0.2  '8 -
'9/%0%&/C80+'%+G//&
 =%9B + '90d'0%',-d" %0 .&2  ;/
=% %  =% G 2'%&  B& % 2+8 +
',>+0.+0.9+3&++8+BI&
&8+B=%&=%+ ,>+G '90 d+2,d"
4=%+3%0+.,%<'++0++%8
+0 !0,-  +0 % +2, =% -  +& 0+
+!+'=%+1+@.'.0+&+
-.&0++'+%0B&%2+"
 +% ! .& +' .' '  G =% 2  / G
++'!4''+ +'%@+%0."&8'+
0 - +0  !' + &+8 0 0 Q 2&'9  E+2,+F
!'++B+8+%.'%&+&"/&B@/2&.
%"""T'%+%!+83=%&+=%2C0'+
I'E.+/+0'1%<+'2+32F+
B+ 
b% Q !&  2 =% %30 / '2 
0.+ 0 /&8 B%+!' ++ !0 +% 3&9
0&N'  'O'8 .! +' '0 &/%0
20C'"G=%-!&B&"?@G0+"
`"""a=%.+30%0&+'.&+ '++"
  ; B&4+'8  0,- ! '+
'!8+'++@8.0@"&+/%+'&02
108
!&.+;'&0,-+0'9+80+0+
0+.+'+";0.& llN'&+2fVcllG
%0 '+" 0 ;'&0,- G %" - + ''&% =% 
0,- +B +0.&+ .%,-" & G %0 !0  2
0%8%0+&+!%/<2"`"""a+
+ %0 &8 '+%0  B& G %0 + 9%0
'.&+&-8.&/4+05.1.&968
.&9%0++''0%0"b%
%0'0'/0/=%+@+!8!&0
'&/%G0=%'0.8&/%0+2<+80"
++-@.++03"@'O'03G0"
 0,-8 ! . T '0 / /&  
+&@ & 'O'8  !,0< +'9&+" ++ +.'
+'9&+8 0,-Q!&.&28!. .&.1.+' 
+.0+=%%8?&?&+!02+0.=%.++42&!%/0
,-!+'+%0+=PC'0.&&1/'DE++9+1+B@
!0'+F8/%028E=%0.;0+0,>+0+.!%+
+.+/+8-.++'2+%+,>+F"
N03+'O'+83B++@&+8++2
300+.!%+0/90!&%<%02<=%G
.1.+':%+0+%00@+''29&+\""":=%++%0
+'%+"%3&9-+0+=%0+'8/,-82&8
+/+.,8'"8G8.G08=%20.0+++
;+"+++83+%0@.@&+=%B,>+%++
.& +' 0 +%+ 'O'+  %0 +%'++- , N8, ?N8 N8
109
3$$$N8/$$$$$N8'"8=%&/.&0.%0+'%+./+8'<0
'00+!+'@+'8O'8+;+9&++"
0%+G.'+'O'%+;'++2B,>+
+2.%<=%&=%P++V5())[6'90E;.C''9=%F8
!++.++'+B&++'.0<,-
&2'+G'%&YY80?&?&+++;/;.++>+!@'++
. '0 %0 +.G'  +. 0& =% !,  0 O' 
'+"0'+0..P++V8-02/'++6
S'0%0&'8.;0.&8G%&<.&'+?&?&+%
.+G'%&"320=%'@0%%0%++0.++
?8.G0&9'+'%%+!+"Q=%&G.'+
'++ %+20 +%+ B,>+  + !1/!+8 '01/!+  +
%012+8  ++ '@ '0.N  '+ 2 0+ + 
+.   '+ +1'.&4' =% 0%  .4+ 0 !+ + + _K) 8
.'.&08'+0+/2+"
&G0  /,- '+%0 + 'O'+ 9&++8 0
&/%0+.++/+8'0+%0?&?&+..&;'0.1..
%&.+++0+G+'2G++'"0%0+%+E+3!+F8
'+%'+%.!++-!G 
92G'&''2<0+.++0%
+.,8.'93&<B%+!'',-
 %8 % =%G2'C8 &" =%% =% 0
20Q+0-+2G++B+8%=%020+&9+
2G+&2+-8%=%020+%2+2G+
@8 G - .G.'&.+8 - .I8 - 2+ =%
110
!' 0 ./%  . =%  ++0+ 0 '&'
.&2+ +.@/+0 3'\ `"""a 0 0 '90 
&%'8  !++8  /&//&/8  %.+8 /C%8
'900  =% 2'C+ =%+08 G """ - + + 2'C+
+3080+E%F!%0/%+0&///"
023E.%F8=%=%<.8.O008
"`"""a%8&/%0!08'0+0%+;+8
'!2+++&%+>+8G.!<+'08&8
 .+" - +% %+8 -" % .+ ." + 
.G=%&=%G=%+.!"
0 0.  =% .'  '9 '08 G 
!0,-+''0. +'280'+82&+8'O'+8
?& ?&+ +0. + !% '0 ." ^ +0.  . =% 2 ++%0 
+' 0 =%&=% =% +B  !0" ++ +.' 2 + .'3 .&+
+%+&@+'0!4''2.+,.&2.G'+
+'+9&++ 0+0+'O'+8.0+.'3%0+-'+
  !'%&  2  '+   2O  .&2 .G'" 0 2@+
'O'+8  &%/ + @'+ ;+8 +' .!% .+ : '0
'+%02!0:&'0+%+.0+"
 % &8  E+ '+F8  + + 0.&',>+ =%8
+82<'+/80.3&0<+.&+'"0.&
0+%+ 'O'+8?&+!0 +%+03+ '0/C0.%
   .08 %& 3   $8  % + 0+
'0'0'+;/C'+/C 
111
0 + '++ =% 0+ 0 '90 ++  +'2
'O'+G=%+3/,-++0. .'0822<8
&/9 % - + +0. 0 8  '+8 4'+
'&+""" + +0. ++ '0 + + !++0
&/4++0+8.!%+8!+8'%&+8&'+"""
+++ + .0+ 0++  '&3,- '0  B& 
' %!  &3  ;.++- ..' .& 08  '+
,%0.'%+!'& +.G'&9!%/8=%+.%'+
!+!'&@2'Q'O'"++2'09&2%0+'
0+ !C08 0+ .+ + ''0+ '+ =% '0%0
+20+.+2.+'%+'O'+ ++'09!.+"
;4&;+C'8+.+!0+0&;.+0&+
0%"28+/%+.C'+!&3+8+'.++8++
2.+%'+"
.+  '&%0 .2' % + .0+ 0++ 
.'.,-?&8+'.''.+%0
!00+E/++2F.;.+%+++"0%+38
+%.+03+'O'+8/9%0+-".++%/8
%0!00+E+%&F8'+'%/+900+%0. 
&/%+90+/++%/0=%.3&0900G
 ' &/%0 +%3+N' =%40' =%  0%< 
33@"/+0.&+0=%G.'+2&2&0
900"/208&+ 
b%2&28&0
?00++0."
112
++%+
%Q+'++0=%'+
78Q+@/%+8Q
+0"
2+=%++
%.1.2
G&=%0'0
%28-0."
Q0%&9
7=%&=%!2
7=%+!<0/8
3%3'8%&%&
Q'9%2
%/
0+2+++.
00!"
+''%3'
/%/ ""
5? JKKS8J[6
&2<.&!+G'.1.!0.G'80
+I.&'++.8..08+3%8%+';&I&0
2+8 +B 0+ 'O0  &  =% + .2'2+ ;+ '+ 0
.++.%"7 .02+80+%0'+=%3+.,.
.+8 +'%+.00+&28 .+2'!'+ 3+%+
0%"
G08@/&.'+8&2%8=%0&0
''%+%+.0+8G+%3+%4.%0+'0++.,8
+48'+;+%'+&++2++ 
113
'C+0.!08&I'8++42&8%+8%=%&
+.&+''9+8&/%Q+2<+
++.'!G09-\
08&+c5?JKKS8J[6
+ .0+ =%  '+ ?& ?&+ +&' . !/%
+%+;+C0&2%'+8.&'@80+0%01
+%.&' =% / . +&2,-" %8 .'+ =%  .+  '+
'+%3/+/%0%00%Q+2+++ 02@+'O'+.+G
+&''0I'!0+&2,-"
+&2/8.N'8+08+1++
.+"
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8 .!28 - =% 0+ + /c - 2'C +
2+8+.!%08+!<&85&I'6+'8/%+
'0=%&=%G%9008%08%%8'
+/%&/+'+'+c`"""aO8!O'8
B8   2@+ + . 0 +3 Q , 9%0
.'8.000'0+0..%+.+
=% 0 !< .+ =%+%%0 4!0 &%<8 
=%+B"
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0+ '% 22 E'0 + !++F" 0 + !++
.++42& '" 0 + !++ .++42&  +.,"
0+ '  0.@2&8  '+%,-"  
2G+  2'0+ %98  B  +=%'08
2=%0+ ++ & /  &%<" ^ .'+ +322"
=%%++B%0+%.!4'/&'+"
()
#"O'.%3&'.%&0LJA0AJKKL"
(J
,($"O'.%3&'.%&0)RA<AJKKL"
114
<9%0+0"0+''0+!+++0.
0..+"
((
+'90+Q.+8+/%0+'9+3.G'?&?&+"
C++0++/%+:(JAB%"8(SAB%")RAB%&"AJKKL:
'+&'%+%+&+'0+.0++%&2/"'+-
.%3&' + .0+  +., + 'O'+ 2 .+ =% +' %2%
+' 4'+3 2 0+.+20Q .+%,-
/0.+ 
,-  %2 Q+ =%  08 2G+  &
+&  4'+ 568 =% 0 O   '8
R)) 0& 0+  J(  JM + +- 2+ '0
.+%++/0.+"!02/+2&0i()
0&9>+".,+-2/+-!"'08
+- 0 +/% +++++" =% 0 + 'O'"
 +%" %+ &/" /% + +1&/+8  0%
0. +& 9@  '90 E  &0F8  ++ =%
< =% % '3  .8 '0 %0 +'8 + 0I&.&+
+0%". ++8'0.;- .++
0+/%90".0E+=%'F8 +&2
33&G0=%B@338'02%!'33&/%0
0.5.=%4'&@'0G+%.@2&
++68 + 'O'  0+ &/%0+ +- '+ Q+
09+ /8  2'C+ -  '9'  & &/%+ +
0+3&+.0+&4/%
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"
((
:"O'.%3&'.%&0JMA2AJKKL"
(L
F( "O'.%3&'.%&0(JAB%"AJKKL"
115
 9  4' '+'  / ++3&  '+ 0 &,- 
0%:''0 %0. '9'  9&+:..&
.&#+

^'%2"&,.0&"
&+.' .01%&!"
^'%%2"0%0'243"
0&2&4/%
"2+3,+88&20
+.%'
0%'.8&2+2/++++8092
%%9.&I0380%'+'
.03%&0+'%.&%
%3+8/1'+8&+'.'.+"
2G'%"0'03'+'2+"
.+-/+04' 8&@/0
&9]@/%833"G&4=%"

03G0+-'%+%++.&2++'+
+++0+Q0+8%%8
'%+'%33"+.%'+
-+!<0++8&&9+]@/%80+
3++%&+.++/"+.%'+
0+%++9+8'9'++8++
%008%0=%2%9@&80/
b%0.0+.4+"+++9+
+!<0.'=%+"/+!0
-+!<&2".++80
^%0=%+2++'30"
%++%+ 98G&4=%

&%+8+8+%3+8'+
.0++%+8%
'003+'"03/+
/%&90+4+%03,&=%';"
b%+&/&9!"b%+0.+
!+"1+%++2.+
3O0'+&4'+8/2/0
+!00/&08G+&I'
116
&08G;0+"
+'+'0'
+%.++.@3&+"
'+8'+++80%30%'+
/%0+G..8'.8'+"
98+/!'=%2G&4=%"
5? JKKS8R)R(6
I' 03/%<8 .&2 .G'  '+ /92
0''0+/2%+.%3&'+&;".0'O':
''0+C+=%30+/0'0&%+,-+980
,+'%3++8+&9+'0%0/&@/0+'".+
.8+&9+.'0+.03/%<
=%03G00,/2%"
'+0+/8'++;.&'&
8'+%008/+8
`"""a b% + +'2 `+ /a - 33 %0 +1 /"
&/%0/@ 33%0&9+"-"  +.=%&/%+
E+F90'0.=%G%0%03/%<8
%0!2+'082&%.%++++2++"^
+;.&'%0.0"^I&03G0"0.0-+
;.&'"/'0%0+'"+!.!8&0
.   2"0+' '0  '  + ! 0
'98!<'%0@+'8++!42&8.%/80.&
0@+'=%0+ 0 . % ++%+" .&
0+ %0 0  .+ ! /  &2%  '
&0. .+  & 09+ +3++ 2C'+ &4'+8
+'28.+++ !%/"4+02%338.=%9@
+!+=%&=%0.'%;4& !4'
."
117
% +0 0 =%++;! .%3&'8'92%'+,-
'0+0.&+',-'+ E%/cF
(M
"
 +   '+  +%+ &+ .'  +
B%+0+++.4"+?&=%/0+&+%0
0  0+ 08  !  .' '0 +% 0/  &/ 8 H"
&8 =%  '+ %&.++%  3  +% +' E!4'&F  % 0+
2+3&++%+;+"+9++.+@2&.%<00/+8
0+!++;+?&"&%++'O'+'0/2%+!+
,+'%3++8H"&B%%00.&%Q'/0@'+;+
5!" ;+6"  '0 % . + +!0 0 ++% .  '+ 
&8'0?&-!! .''0+%&%+03G0%
.%.%0+;+"H@&,0-Q.+8'+03G0.
B%+9+.%<+%/0% 
8H80B%8+4'+.4+0%00
; 03G0 0% '1'c ?@ .%&9+ 0+ 
0%++++'++089@+'&9+-.%'
%" 8 H8 +9 4 %0 .  +% 0%8 %0
. =% &% '+/ 0+0  '0  0%8 %0
.=%!320'+/0&2
+.&2++'%+8% &@.0=%
+'+.E=%&F <<!!!8
H8+94%0.2++%'+3%0
'./+0/&`"""a"0.+%0/8
++8.+ 0%'04+%."8H8
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&/%0++++'+'0+AA'0."
118
0 +9 &%'8 '&G'8  3' '0 +%&
%++.+8!/+'-+80.+++
''%c 8 H8 0 +9 338 33" 
+93C32'!=%&&@'0 ''9c
0%@'3c
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;0'0!+&'8+9!!.%3&'&; 
%0'02.+,-E+&+C'F:'0B@++.
:+."5!";6
GG



@
E-9@=%%09%0&/-.+++&2
'0%0//&9800+0"F
0B"+(
  'O' .0 %0 ; &28 '0 %0
&/%/0 0% .1;0  '  &8 %0 + '09+ =%
22&0+-+'&9+.&+'++G'099%0"%0+
=%%00!4'.'3++2@89%080
'+ '++8'!/%+'0 2 .+% .. .
&928'0G'+%4+4++0+%(
"
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,NO'.%3&'0JKAB%&AJKKL"
119
+8'+++'&9.&'099%08.
++%0!+!%,>+N0'+;+"'++.'4!'+
'O'+?&?&+8.'+=%+8&',.&9%08=%.+%
2<G'+%4'03+%0'@%+'8++%0%0:..+
 ;.++- : E!%,- '2F" ;.&=%0+   ' +% '%+- .&
'O'8?& ?&+ ;%'& +% +'&9 .&+8  ++ B@  4' 0
'O'.%3&'0(S<03JKK(8+%/+20%&/
8'+%'%'09+'&9 
7+ 2<+8 0 ./%0  .=%C  %    
.+   +' + 09+ !',>+8 0% 8 09
.+8 '0 /+  '++ .'&+  %+"
..&09.1.+&2,-"++%0.0 
""".=%00
=%&=%.'%%+%+"
5? JKKS8JR6`/!++++a
=%..'%0'%++&8%+8G.00
.&0+!O'+'9&+8'.+Q'&,-+%
+%+%0.2@2&&2<"%'+ 
@+ '%&++ C0 +'8  +G8 + 0+ 0.+
B+8  +.  !0 9  / . 
9%0   !% +.&'  +"  `"""a -
'=%9B+&2,-.900"$"b%
.+ =%  ''  0%+ G   $ 8 '0, 
+" b% &  =% %+8 '0++8 .&4'+8
.!+++ +'20 '0 &/%0 +.,8 9 &'+
120
;.+>++"0"&'+8.=%+0.:J
  " % %+c  900c E20  'F8 '0
++%0./+"5? JKKS8JR6
 E!%,- '2F =% .0+ 0 . +
0&9'0.=%&+0+0+.'I!/0
' '0   '!  '' '4!' =% 0  +.G' 9%08
$8'0=%&=%.&+0+=%!0'&++!',-
& +.G'8 $ 8  '+ ; '& +% .- +3  %8
900"  '!  '&A&%'< '&A&%'% /9
 0+ !, =% '+ + +  '; 8 '2&<08 +
+'33@% E9&'+;.+>++"0"&'+8
.=%+0.:JF"',-0!'C+.9%
03% &G0  3% %0 %  !0  %,-  ;8
'!+ '&0  ..+0 '0 ;.'2  %0 &
0G  'O'+8 03G0 .!% %0 +  +90  '+
+%+8.++0<8+0&9+8.+'%.';+2++
'0+  .0
([
 %0 0  &0,-  ++., 2' .&
.!'C+2802.&',.+"
 + . .& '+ '0 E0  +&2,-F 
!/0'&88+'+0+!&/8'08
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F   53W   V (!55G  X <51 V    X51  
50$:!5FV>5/+!55GV65FV::V
#U5  665/) )  !51  6 53#  !55/ 
5T V # (<5?< 650V   V 5/ # 6$50  
$!55/$N,+505FVV+507*0N51*V
54+,8553:5T55GV!5/$NF
53WV(N
121
=%2/+++'0"28+9&+'!/%+'0
%0 +.G'  4' .  ++. 9%0   8 .0
+'48028..;+C'"
B0+ % ;0.&  ++ !%,-  + .'
+08!'&''.,- 
0 'C'  !< =% ++&  4+8 +1 9
2  +'2 ;+ +1+8 '&G'+8 '4'+8
/+ % +%!+  %0 9%0 '%&  G 0
.0 +%/  '4++0  =% 3&++ %0
0'O'+!'9++0'0'+2++
2&.0 %0 .=% 008 %0 9  +8 %
+=%9  .!%08  2&.0 09 'O' 
'&'0+3&%0!9/ E'+%F8%E+1
.'4'+F8%E+1.!<++++.+F"%
=%0 +38 Q 0  ?++  E+1 . +F" =%8
'290+8 9@ .%&9+ 0 0+"  =% - +
+&2++09'O'2&.8-'+/+'2
'/@2&8=%+B%0E'O'F"
 E9%0 '%&F8  =% + & ?&8 ! &G0  0
0,02@+;+8'0+%0'+=%0.'0&2<
&9+.+'O'+=%%0%0.!O'+
/C".;00+.0-4+.+'08?&
'  3O0 =% 0&9 !  +  +.4  +%$  
%' ',-=%+0+ /%+   2%0+'
=%.%,-3@+'G'"
122
++.+8-+-.++%+&'%+8
 .1. '+ .' &/ ++ &%/  /@2& . ' +%+
'0@+ ++&9&04!=%+.%;0&%'<2/+
/,-8 + 'O'+  ?& ?&+ '0 %0 +., +/% .
+0%9%0G.'0=%+2&+3@+'+%0+'+-.
Q'3,"
G08 + . %0 &  '+ ++%0  ..&  %0
'+'C'+'&'/=%++!0%0+.G'.2<
/ 0++ O0 3+&8 . % &8 ?& - '0< .&2+
=%++%G.1..23+&" /,-'+=%++
=%.=%&%.&+.&4'+'%.+ .++2%0,-=%
+;&%3.&.&4'" "%032/&.&98
'+ !  . 3+&  E+ '9 &2F"  'O' <  "
<%0.0+%'++++82B0+ 
b%./%0&-=%&+/2+++0+
%+ '2 0+ '2  I& Q +38
+.%E9%0+;++F"%8=%+%.+%0
.8 9B +.  0+0" +  . - ;+"
+ I&0 !+ 0 &03 %0 % 9+1   9
18 '&< .=%   3&2 
&/B 3/%  03;  /&  33 %0
3&'9'&.'%+%0'.'9'98%0
33 &'1&'8 8  . '08 !< '0 =% 
03; /&C+ 0++  '@ %0 3% 
.++++ ++0 .& .'.& %  '   <8 
9 18 < % '08 .% %0 0.  0G'
8 ,% %0 '%< +3 &42  2'% &42
123
- ;+" / 0+  .+  &0'+ -
;+0" ;+0 +08 . +0 +=%+" 0 =%&=%
!0/28.+'&+08.&0+0%5c\c6
0=%+08 1+8 3+&+8 &0'+ +0.
+0++=%+"
98=%+=%+B-2!/0&22
8'%B%G+0+'+9+
2/+8 % +08 =% 9 + .B 5'c6"
'0 5'0.  &2 + . 0+6 8 .
!28+2<-+=%,0 
"""+% %0 9008 .,8 +%  3%,+8  3%,+8
..+%+8+=%8B%+Q09&8
++0&8+3%,+8+'@2+!+'1+0'+
!',>+ 0   09 3+&8 %  3%,+8
2&.80&%+0%'1+0'3%'8/
%8 0%+ '+ !%+  8 09 &08 98 0%
'!0+&280%4++0=%8%3%,+8
./++8'9%3&8'8
'9003%+'+&@!8+&23+&"
+ '9 &28 9O9O 9O9O8 =% !'+
3%0  %+ 0%&9+ '8 '9%  3&8
=%..-8+&28%&8%+.3+B%%++
0.8 / % !8 % +/%8 % '3,8
08 Q+ .&.&+8 0 '/8 '8 '
+0.8 98  =%8 / .3 0'9
+=%83%,+8B&9+89@=%0.'
+!,8 240 20&8 0 0'9  
3%,+!&;8=%80%&.&'2<+8+8
0%&'+83'0+G80;</%
Q09?+18&0/&8%/&.++
=%0+"
'9%'%+8 &\ +'&<%+8 &\ 5'c6"
5? JKKS8(L(M6
124
 0@;0 =% !  3+& '0 + %0 .2
+!+28?&+%+0.++>+8.%28.'''&% ++
+.'!0G&'&/'90+.23+&"
++''.,-.;&+0?&?&+'+%
0&9 0&<,-  0/0 '+%4 .& +' . %0  +%+
!,>+  / 0+G =% .+/%  900  E%+  %0 +%.!4' 
/& '  +F"  ;.++-8 =% /0 .' Q 2& /
3#$08G'0&/%0+'O'+!,0+'+3
2G%.+',-"++08+0?&?&++0&9.
%0'09+02& E8&8%9'9/@cF"
++. +42& % + ++.8  +0 =%
22&0.0+++;+G'O0"'O0=%%&.++
''%+'&'B%%.&4'.++'O'+'9//
0&+&1/'@2'900 =%G3%+'+.;+C'"
GJ%;<%:
E/%G00&%80+!%G!0F"
?&?&+
+ . +%++  ++% '0 %0 +.G' 
!&9B&+08'O':'03!&,-:9%3+0%+,+
++ 0./ ."  .<  2&%,-  &/%/08  &3
125
+&4+'8!0&/%+3%+&/+.%0B&+0=%+2%03&9
@.+0<'0.902&<+%0."%&8
%0 +.' %0  'O0 03G0 !% . '0  !&9 ++
+.G'00!+03%& =%+3/++!0%0
.%  !@'& /+- . + &+  .'.&0  + !< @2&8
/3+&%'+.00=%G.%3&'"
++ .+%  0' G ++0& %&0 .&+
'++"b%'@8%0%%'&30+3&+&2'
%0 .&C0'8  .0 ' +&2/%  +3+' E+
.>+'++;+-+.+3&+%%F"
'+'C'.=%&9'38'+8.+%2<8'0%030!&9=%
+.  .8 - 2 0% &/8 .+ +. =% % & %0 2/C'
!+2+0/+..,>+"
&+  'I + 'O'+ 9&++8 .G08
.0+'0%0+%,-+"0?&?&+8!&9=%8.
%++'+80@;0'+&/%0+%+.0+=%&/2&
+&9+8=%++%0+22&9/"&9.3&0@'.
-0+'0.&;8'O'.?&.'-+Q+%+
0'"
0.!'9'0'0%08+&+?&
?&+803=%+'%%&/2'00'&2"%
!4'&.,-%0.I3&'0G0+0+%!%+23&
 E0&,-F  - + '0. =% +&2% +'2 +%+ ;+
E./@!'+F8 - 0%0 =%& =% +0. !  0' /+ +
126
+'+9&++ 03!!'0&8..+!@/+
'<+ =% &00  ',- + 90+"  ++08 - 92  +
!N03+'O'+"
.+0+2++'20.+8%0+&
'!%42&8-++.@/+%0B&=%%0%0
+%+;+"  '%+8 .G08 - G  .+,  %0 ; 9&+ .%3&'
%0@80++0+%/0%0'2.=%+2++''"
+ '%+  G =% &20+ 0 '+,-  !   + %0
.=%B&-%&%%+'2"22&0
+%.+8?&'%'&3+0&0'0.=%@8+3+
'+=PC'+=%++;.+,-0.%0.I3&'2+=%&=%&9
'0.92+&2+'%+"++08'0.3&9=%2+
+.@/++2.+/9+%+.0+'+"
 '+'C'  +'2 . %0 0 ! .' 
+2 '0 %0 +!.?& ?&+  &2<+' 9 ' ++
2.+%''0%0I&0'9'E..%&<F+%++'+8
3!4' =% =%+2&0 G < .& 'O' 2 +% 0.&
''%&,-+&+B&"
+!'"++"O'.%3&'"+=%
+%/ %0 '0.&' =%8 '0 '<8 B@  .2+42&  .  '+
=%.++,-.I3&'"+'+&+8
=%.22&0+'++20Q=%&G.'8.+=%?&'0,%.%3&'
+%+'O'+8 '0,0 2 ,-  B&"  4'8 %0%%
=%; 0+ +'" + =% %0 =% 0  &+ '0,% 
127
.+,+;+9&++G-.'B&'0.+8'+
0%0+..,>+"
++'3!=%+.++2 
+%%0+0'302@+'+<.&2+'0E/,-F8
E0&F8 E2/9F8 E2&F8   8  +0 +/%8 -
!&20 0+/+ &/++" .I3&' +2 '&0 28  '+
'%2 '2'  +% ..&"  .!%+-  0++2+ '  +' 
.2'2  0+8 8 '0 + '++%0 B/ '0 +++ &+ /+8
?&'/2'2<0+++"
!&JKK(8'0.;0,-+!++!08
'++&2%+'2'+E3+0+F.++9+'0.++"
0L)2038'+%4'Q+'+ 
2'C! %0B'9=%./%0 .
.=%C%0%+0+%<8/=%G.'%+
%0 ! =%  3' 9@ +" &/%G0 2 < .
=%3/&8/+&C'=%!@ %2&+
0+! 8=%./2&!G%0;'&
0G"  2G+  !' '&  +8 2'C 2 
'%++%E!F"/=%2'CB@!<++
- % +%&" b% +98  % '0 2
<8 - .++ ' .+ +0. @ '" 98 Gc\c O
0\  0' 0+  !" -8 -8
'0+ccc +@  / /&8  '0,-  !& 
0+0 0. +3  ;'& B  + +%.+
&/++"0'02<&.%+0+'2
9=%!<0'0+&/++"'C++30\&'0
+0@/%!222+"42-<=%-c-c
=% - +30c  =% '%& 0% %+c & / 
128
+!0   +.G' 0&"  + &/%G0 ++ =%
.! 0+0 '  /&98 /&9  09 =%
!<0'0/&9+/B8=%0&/%0+/B+'0
+ .G+ + /&9+ + 33<9+ !'0+ '+ 
.=%+/&9+%'+0200+130
2+ 0 .!%+-" 4    '+ 2 < =% ++ G
942&  =% - ' ++ + /&9+" 0'
&!.+%+0/+B&++=%+30
++"+++%.&'0.=%-!,8/
+0.&+0  E + 9%0 G %0 '@.%&8 .1' 
BF"C0 +/% %0/ 5+.++42& %0
=%6++0'.'%+%!.
'%+..G=%%0/E;.F03+0+
%9@.%'"+<90'+Q+//&9+'0
=P&0 5.+  +3  + + 9+6 %
.% % &/+ % % .  /&9" + B
03G020  0% . 39" +'0
!2  E9 =% +328 0% %+8 9 =%
+322cF" + &/,6 W!V.
++-03=%.++%Q%'08.+
&"&!8+/%8Q!-B/=%
% ! .%" E =%C\F & @ '0 +G0
/++2" +.+  .=%  % 0 '9%.%  
=%&0%-8'C-2%-\
""@=%++'O'2+.%<20&2<+\
9c0%=%ccc
++0%+=%8'+.2'2+%+&++
'2..'3'+3+%+++0&+'00+'+
.+++" =% 0%+ + <0 O+ '0 + E+'+F +'+ .&
'+8?&'%2+%&3& Q.%3&',-;'08+/%0++
129
+0+ +/%+ 0+%+ 'O'+'% 0%& 9&+
3+0+"
++++'00,>+!&JKK(8+&+
8=%'+%08'03.+3+&+80!G++
.3&0+ . '   2 '/+8 .& '@8 30 JKKL
+!0,-  B&%0'0.  3&9 +1  0C+  B
!0 .%3&'+ < '+  &+ : +0 !& + 2@+ %+ =%
'9/0Q,-=%-!0.%3&'+:+,-'0
+0+2+'0@++3+'O'+?&?&+ 5!".%,-
;6"
;/+:03++&+:Q.8++'@'!&
. + ;.&' .& '& %.% 0. .& +'  =% <
+.9<;.'2+=%2/++.'O'"0
.0+3+2&/'.4%&(80+0'03%..'
'+8=%< +.08+&8&/%/08'"89@ %0
&0&N'"+0@;0+=%/0'O'8=%.%0+.
'B+!+.>++3++%8.'0+!/+.
 '+ ?& ?&+   - '  ' &2<8 =% +0. !
.'.&#/C8%&%/ .++2++2&+8+ 0<&+
+'+89.'+'&2++0+.&4'+"H@-.0+'%
+E+!0+F++/C=%!0+++0&+%0&/
B18+.1++"&!B@!.'30+0'&++'%++>+
+ .@/+     + !0++ '+  B  JKKL
'0++/%'0@ 
130
+ 'O'+  +' `?& ?&+a8  '@ 
'+ % 0+ '0 =%0 %&@&+8 +-
/++0309%0++'@+'+80'8
. + =%+ B%+0 +3 + +++ 2&9+
''+ 0&++ .+  ++  /,- 
/,-8 +0 /,  +0 +3""" 0% %+c G =%\
3G+?&?&+.=%3803'0 ++C'
+ 2&9+ .>+ + 'O'+ ,%'+  30
'0.+" b% .++0+8  0+ Q+ +/%+!+8
+ .++ '0 %0 +.,  30 9%0 
2C'"5.%,-;6
+'%++- =%'&0 . +%/ %0=%42'.
.B&0'2?&?&+.+'2'O'+.%0.I3&'
%0  '+28 0+%+ &/ 0 +/% '0 %0 / '" +
&%'+-00.' .2+'0'&8=%0+'
!'2 + .&C0'+  '2++ + .>+ +3 + 'O'+  + &+
0+ B&  28 8  .  2+ &1/'8 0%+ + &+
&/20%2'&@0'%0+''0
?&?&+./+%+'++&''&3+8.+++08+/%
&/%+8!&0+'0.9+.++++%0."
'&%0+&+'+!'%0'< 
?& ?&+ +%3 .2 0% 30  .'%++- =% +%+ ;+ +20
8'!=%&!&+=%+20+%&8'+-
3% 0-  +% +&8  +% 0' %&  +3%  %0 'C'
+'%& '0  +% 3 8 +!0  / ..,- =% +
.&C0'+ 00 %0 2 2 . +% 3" +0 B@ 3&
131
!+'08?&'+/%%B%!,+.!+%+.++8'%
'+% +% .B &@ +0 !< ''++>+ + 0+  0'
B&4+'8.'.&08.2=%0+1&2<22'O'"
GKA

@%4;<

>
E
+.G'  /C'%<&9  &%8 9+1
B&+08'O'.+'0%02+03++++
+'%++ 8 .  93&  =%0 +'28 .8 '0 =% .
/&+82'0&,-!0'&'.&%+$"
0283.++E0&,-F2++0.&+0
 !  'O'  +% .%3&',- .0 0 0+  '0%',- '0
B+2++=%C0%00.2I&0%@....'
%0.0C'0+;+&.%3&'+"+!08+0%.%'Q
'O'&G000N'0A+90=%2/.
00Q&%.+++4'+=%<0!0,>++3'++
/+01.&+8%,>+.2'+.'9%2+2-8+0.9+
3&++8 ;+  2&C' =% - .0  %08 '0+ 9+8 +
+'&,>+&8'"
G08'0=%.%0/&.+8++232
=%+@''O'..&/+8+2'&9+!0
+!&9+B&8=%.+&+2-.=%20+!%+
'+8%8 '0 3+2%'2< %008 2- +2  ! .
.+@+2,"
132
++ &'  +  =% +- Q 0'C + 'O'+8
.0C'%0 +I38G+%+.+=%+.0&+.'0
%+0&2 4+083&2&9/!04&&/+%
@.'c0%+.&2+8'0+0+!++ 
+3/+24'%&+1`B&a8+%%
- G  + +'+ =% .+0 0 E!'F8 + G8
.0'&03,0,-.+D
+% .+.'2 - G  + =% +'20  & 
098 0+  +0.&+ G+'9-"  ++ 0+0
'+/%=%++0=%+!0%0&/
40 '0 &,- Q 2  ' %08  =% .++ 
B&  &28 1+ 2!'0+ 0 +.+ =%  +%
%3& . + 0  =% & .1. .+2"
0 .' 2/G&'8  =% =% +&2+ '3 .
.+D   =% - 0 .+ '3 . + +&2"
5 JKK(8.."JMJR6
 ++0  2'4 + !< &" +++ + + 
.4  '&3,- '0  8 0 JKK*8 ?& ?&+ '3% 
..+  V .%+%+'O'+0%0&2"%.+.
'3 %0 '2 . .%3&' =%&+ ;+ .%<+ '&0 .
2+- 0+ =% .+ ++%00  !0  %0 3&9  ++C'
'0..&+'0!++%!4'8?&'% '2"&2<
. =% =%& E!&9 0F   'B%  +% 38 %0 2< =%
+2..+%+.&@'0.%3&',-+%I&00'8
1!28'!++.1+&/%0+.=%+;/C'+
+'"
133
.%,-'V?&?&+/'.%3&',-
+'O'+&2"  "
(*
(*
++'+@.+'0.892+'
 I&0   ++ .+=%+  + 2@+ ..G+  =%2 .++&  +' . %0
+/@=%.+.+@2&.&'&/,-'2"
134
'&N'3%+%/+24%&"  830
+&9&+".4/!8&2<%2+=%=%&+;+'+/%++0
0!+'+8?&+'2 EI.&'+++A,0++++
3'+A '09 +2+AA + '++ !C0+A+0+F"  
+/%8&2!&,'4'+.'&<'3%0'&03+
2+ 
,I&000/+'+&+"
9''0%0/C.'0'&8'O'
0 2+ + =% '0 %0 ' '2+ '0
&=%8  '@ =%G '&80 +0. G
=P&" 7+ 2<+8 ?& ?&+ '9/ 0+0   0
'!&'&+!+%2++%&8=%
'%+ %0 +- +.8 =%  0  
'+  =%& =% '0.9 +% 3&9 G +%3+%4
. %0 +.G'  +90 +" +&%,-8
.G08 G  &9+ 8 =%  '+8 % 2<8
%<  +- 2G+  &/%0 '0@ %+8 %0
0/03<%%0''4/&"+%&8++08
G=%&'3+ '++8 '0%/C'8
.'  .1;0 ;8 .  +'3 =%& 
+%.+ =%  % &9 ..%" ^ %0 + .%'+
00+8&%3+&80=%%0'&N
;+ +.++ ;/ &% +0&9   %0 &2 
+%+.+"
+'+'&9%0.4'2+0=%
.4+  2 '  .++ '   %0 .'++ & 
0'<,-84'++_K)8+;+%+&2"  
135
9B.'0+++&9+'0%0+.G''01/!=%+
<+0/+0+0'+%0.++.+"
 0+ 'B%+ =% .++0 .' +++ ;+8 +
&+%+:'&%+4%+3&9=%'2.+JJ+
 =% ?& ?&+ '0,% .%3&' +%+ 'O'+ : .0 '
 + '+'+  + '4'+ 9&++ %0 /& /+  %0 G.'"  
!00+ +0 0 =%++ .++ &/%0 !00%  2&++
/+8%02<=%./%0'3%+%0."
!  .%,- '4+'  ?& ?&+  +%
.+00&2..%0+%.,-',-@2''O'
/,+ Q +' %&  .'+8 +++ ;+ '+/%0
+322+%0..+22/+&9&+"
0!<''++>+=%Q!0%=%&=%%+.'+%
0'%&8+'?&?&+8+%32'%+-.&'O'8&/%%0
' 0& .+ &+3+&+" %+ 'O'+8 +'+ %0 !+.&
0%'0 4+'8 &/  +0 2++ '0 0 .C'  3
820+%2&'9''0./%0'B%
90O'8++'+.'0.+-.B&@9&+'0%0
"
136
;O 
 .;0,- '0  ; 9&+ +0. G %0 +!8
.&'0%0=%.&+.'&<=%G.+=%+"
3Q!+%0.8%?&?&+0.0.'
0' &/ 0 +/%  0+8 .&2+8 ++%00 !0+ +.+ 
+ &9+ %0<+  0% '0.N"  0/0  .&0.++8
' 2<&% ;9&+8%<30 +0 & 
;E'9F '0+'0+%03&94+'=%++3.>0
=%3%+'%0&9'I0.&'+.+'0.C&"
b% '0+ ++ .+=%+8 + .0+ '0 %+
=%+>+'+2+.'090+@&++ .08!'%&.
< +3 %0 /C &@8  'O'8 =% .+  . 'C' 
+0.&'8&/+.0+&%+80+%+0%'0.&;'0+'++
33&/! 1'D +/%8   '0.&;  /C 0 +8  +!
!'%0=%+20++'O'+9&+++0&B@G
+9 . + +18 . . ?& ?&+ -"""  9+1 '0.&'" + 
+!! ' 8&/++.+=%+8.'%0+ C!+&/%+
+.'+0+'++'O'+802+!+++%.+
' %0 !=% 0+ 2'&  N03 'C0' +3 ++ .  3
9&+"
 =%,- '&8 02 .'.&  ++ ++
0+%+'O'+9&++8'0%0+'!'%
'0?&++'0.N03+.B'O'8!.+/%0+
137
."+.+!=%+'!@20+ '9'03
Q+'O'+  03G0 &/%++3/@!'+ +'84 '++
=% '0+  +% .20 ?&+  +% 3 +  @&+
..08'09+'&9.&'+-.+!"
+.+'%+,>+E&%'F8E+=%<!C'F8E;&
+'!+0%F8?&0+%=%0+0+!/''%
+0.+2+&0++%0.8.2%+'2'O'+.
C++.%0.=%B&.%&+"&++!'I0+2<+8
&2<.+,-8'0%0+'90G'8'&3,-?&?&+
   8 0 '.8  .!%+-'+ 2+Q,- 
B&.>0.&%&,-"0!<''++>++%'+%0+&
#:+0&1/'0 <Q&%<=%+@!':8
?& ?&+ +'%+ ..+0 + @&++ !0+ '' 
'B%%.&4'3+&.!%+!0+0.2</,-
..%&%0'@'1'"I'8'&G'O'8'+!'%
+%0'Q&%+''0+3+%+=%++%'0+.@/++
B+.4+"
+  % 8 . %!,-8 +%+ 'O'+ -
.0 ;  !& '0  +' .G'   G 4 =% ?& @  +&
3&$+%0&,- ''%+'&!'=%G03&9+G'
=%0'+'9&+"&.+Q%/C'+%0.:+
+'0%'8!&900+%0.8!<C&+..%0
'+'C' 0  2 : ?& . %0 0%, +/!'2   'O'8
+%3+2 =% 0  /C &@8 0 ?& .++  + %0 =%&
138
3%4+'28+%/++0%0"&&B!&"0!0%
' 2< %0 'B+ '4' &@ +3  +  % 
'0. E'.%.%'&+%+!+:
'0 %0 .& =% + +/ :  % 0 +  !',-F8   '+ 
&%9&+8!',-'O'c
0C+++'2'O'++0+8?&?&+.2%
 '@ =%  =%42' =%  .0+ ' !'&0 +
'0.C+  &%  - ;+ /C &@ 0 % 08  +0
+'+0+%0++/C+"
6<69YYD!
139
44 
*""@
"@
?8?&"+"-%& 2++3%+8JKR)"5&%+,>+'T
6"
mmm " &  /" - %&  ,>+ &'8 JKRJ" 5&%+,>+  &12+
'6"
mmm"&6!H H&+8JKRR"
mmm">"-%& 9038JKRK"
mmm"2$"-%& 9038JK[)"
mmm"36+"-%& 9038JK[J"
mmm":"-%& ++98JK[("5&%+,>+
e +&T%V6"
mmm"5JKRKAJK[*6"-%& 2&8JK[*"
mmm"G'#<<)"-%& ++98JK*M"
mmm"5JKRKAJK*K6"-%& b%4A8JKS)"5&%+,-+'6"
mmm " 0 ,! 3 " - %&  ++ 9D +U9 W0.!8 JKS)"
5&%+,>+%6
mmm "    " - %&  ++ 9D " 4 + 
&3%=%=%+8JKSL"5'.&/&VT6
mmm "  < + " - %&  ++ 9D +0& %&&
+8JKSM"5'.09V6
mmm"#+6!-%& ++98JKS["
mmm"/"-%& ++98JKSK"
mmm"/"-%& +2+8JKK)"
mmm"0:"0.+ +8JKK("
mmm"&6!-%& ++98JKK("5&%+,>+H/%6"
mmm""-%& ++98JKKR"
mmm"0!-%& 99&D++98JKKK"
140
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mmm"F"-%& 8JK*L"
mmm"H"-%& b%48JK**"
mmm"2!-%& %&%8JKS)"
mmm"/3#$0!-%& ++98JKS("
mmm"$"-%& +&+8JKS["5&%+,>+
%6"
mmm"344#%!-%& ++98JKK)"5&%+,>+
&&O+6"
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mmm"!-%& %&'G8JKKJ"
mmm"'!0.+ +8JKKL"
mmm"1!2"-%& V8JKK*"5&%+,>+'+3&6"
mmm"  'O'+%+5JKK(AJKKR6"-%& =%08JKKS"
'3@
mmm"2"-%& V8()))"2""5'.&/&VT6"
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&(1Q"'&R!"@
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/+(?\B!-%& &%3.+8JK[[".."JJMJJR"
'" 8"/$+(#(!%,-
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141
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0:5.0YY6"8H+G%0"3$#
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%,-0+8())R"
8e &&0"?&?&+ E-9&/+3+&F" 
"@!'&03%'"Y"%"8JKKR"
mmm" ?&?&+"   +H2+   /P4+'@"
'! 8()))"2&"JJ8B%&"2+"
$8&+"0;-&'+/++2" &"0"
J(A!2"AJKKR"2+"
8 &+" ?& ?&+8  %;  +  &" 8 $%&D
8 %<&@" 5/"6 4<  ,$"  
2+@"5.&6
mmm"" Q.+!''&?&?&+"'!.0
+"<8())M"50/!6
mmm"/< K"'! .0+"!28())M"
00"
mmm"06 %0+%+3)*6?&?&+"'! 
.0+"%"8())("00"
mmm"?&?&+X3% /0X,-" /(48
2+.0+"'! "g"M8())("
  % +&"  " - %&  +% 
&&+8S8<AJKKK"
8 H+G" ?& ?&+   0&,-  &'9"   mmmm"  
#!H '8JKKK"
142
?8 &&T 2+" C'+ %+  &% !0  +&  
?8&&T2+5&"6+"-%& 8JKSK"
mmm"?&?&+ %0@&/'0?&?&+" ?8&&T2+5&"6"
+"-%& 8JKSK"
mmm"  .+3+'%A&%0+?&?&+"  mmmm" /6 
&Q"-%& '&8JKKL"
mmm"&%;!&0b1+ 3%+'+." mmmm"/6&
Q"-%& '&8JKKL"
.%&""0.+ B"8JKKL"5'6
mmm""0.+ B"8JKKL3"5'6
8 3&" 2&  ?& ?&+ /9 .%"    "
(KA3"AJKK["/"
8'4&"/@!'=%+'2G%02
.;-" "8")*A!2"AJKKL"/"
8H"?&+0/'+%+.+"$"
)SA0A())R"
8 H+G %< "     0"    2+ 3+& 
&%"""J("H%&"AJKKS"
8+5/"6"3"0.+
'0.8())R"@&/;.+,-"
8 &2" 0  -+  "    "  "
0.+8([A%"AJKK*"/"
?8 G/ %=% " 3    " - %&  0.9 +
+8JKK["2"".."(K*8RLR8RL["
Z8  + ,+" ?& ?&+ 5JKL)())M6"  0!3! 4"
3+21"0A38())M"..[*"
?8 Z&2" E/%G0 0 &%8 0+!% G  !0cF8 < ?& ?&+" 
$"&%+")LB%"JKKS"
b8 3 " + ]+'@   'N  2 +' .
0%&9+" ?8""5/"6/$]6/(
4"^2 8JKKK"
8G/"0 !-%& ++D%+.8JKSJ"2"".."
(K*(KS"2"Y".."R*RK"
Hn8"?&?&+ .=%-+30"M #:
2+-2%&2+&%"+%&JSAB"A())* 
o9. AA2+'%&"%&"'0"3AU3+A+"+.\U+p)[(RSSSRM(RML[LM(RRJq
143
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197
/&8&+'0%+'8'O'.%3&''04%&<" "=%
.0+24%&0%+'+'7<#"4%&=%.'0+'08&X
,$ 8G  %0 ;  %8  &2 2   8 =% +@ ; Q'O'"
03;8'@&'%&+++.++%"
198
%+''O'&<1" 8.%3&'0)SA0AJKKL"
199
02+-'O'0)8<'02@+0!',>+"0+24%&+%
1):88&4%&!2"0+.''%++',>+G%0,-+
.&2+.0+/%/<@&+"900+,-.+',-0E&&F8
/!&%C'!&+1!'%8'+=%+%.!&9"
200
+-!2&/!++'O'0)88.%3&'0
([AB%&AJKKL
201
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"""(8&"!
(

!"1?
`.%,-'%0+'&+80.&
'%0,-%&%&&;%&@&:'0.a
202

+.%3&'++,-880BJKKL"
203
.%3&'+,-880)SBJKKL"
204
.%3&'+,-880JMBJKKL"
205
.%3&'+,-880JKBJKKL"
206
.%3&'+,-880(JBJKKL"
.%3&'+,-880(LBJKKL"
207
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!*"
208
!*"&'"&"50 !""
0/&/?&?&+8B&++'%+G9B
9++%+39&+&%.0 
!  8 &'&< %0'9@' ++ 0.+
?&22%3.+%2"



4!0"'9'%?&?&+'0!+%'242'0
&+&\
"509'?&'0,JK[S"90-.&09
2G+ %0 3&++%+-.&2+% ''99+0,-"
.+  0% .'%8 %&08 . &/%G0 =% '++  ''998
'0%!'0%0/'&&B/.'%@
0.+8  0-+ &&+" & ++ '9' %0 . =% 2 +
0+80+.'&+''9+8 %&! +&.  09
0-"&&/%'03%'0?&<''99"00C+.+8
=% & ! 2+ ?& . +3 +  .,- 9  '8 & 0
+2+0!''/&0.%+%.40=%+2
&<..+=%+'0.+"+0/+=%.%<+!<0.
4&+%&&+'2.'%&?&"
9@'  ?& ?&+ + <+ 
'0.+0-%&89B
!%' 
  !   

!
?&.+%+'-+B0
+  &"  !%8
+%%+
!/%"
209
'2%.B%"++08%03,'9+&+8=%%
.&.02<+&'9'?&?&+"
4&+%0.%'0/?&"
  &  %0 .++ 0%4++0 30 9%08 &'4++08 /&8
++.%=%.+20,-%"&&0%2
%"
4+&8%&/%00.8!%0+.G'!I/.&/%+
+'+=%+20'0,'"0&,-?&'0+
'+\'C.'&/%++0+=%.++0.&@\
+'++128=%0%%+0++"++_K).
'4'&@++%"&8.%'/0%!
+  &" 0  + 2+8 .++2 &/%+ +" + =% &0
00+& +'%&+8+.&@+'&/&VT8
+ + %  %" - 92 ++ &,-  E'+F"  %0
'22C' /%&"080%+.+++.++0.&@"0++8
0E91+.F"'20.%'++"
0/+%++&
G'
_*)
"0.G8+=%.8
+/%G+'3%8=%?&?&+8=%%+"
8+/%8+'T//%+&&+"
210

4%02+8?&'=%8&'9+%0&2=%"+2
+'28'+&9%&93!&%C' 3&'+%
.1. ',-"  " '0 +' 2 !'%&+ . & '0  !&%C'
.2'.&39&+\
9'?&=%%9J*+"&=%!=%+&%03'0
+%&/%/0:G.'&+2+'2+;+)*5&@+8
4%&!+%/+-09c6`++a"%B@+'280+=%9=%'0,
 <c % '+'0 . + ++ !&%C'" % .0 &28 3
G0%!&%'.?&?&+"+/%8#
8+=%-"4B@G%0!&%C'=%'+0&"?&03G0+
!&%'% 330 '0 0%& 'V8 ++ . + .'3  +%
2&33"+.+++!&%C'!E/F8'.Q&/%/0
?&"'9=%'0/''%0+0"2&B@-
0 0+ ++ !&%C' ;'++2" + ++ '22C'  .1;0 0+c
0+ '&%+2 .;+ :  0.++42& - + .; . ?&c
00+ GJK*(8 %0.;-+002&9+" 240+  0+0
2+80+0'+"' +!&%C'+00I%+"9/@20+
+9+ /%+" 40+ + 0+0+ &2+8 0@20+ + 0+0+ %+""" +++
'++"
40!. 0/%+ ++!00.+/0+
2+ 9&++\ ++  %0 .'0 '0%0 %+ .& ?& .
'+%+%+.+/+\
?B0'9&%'0=%2B&0'0&/%+++%+
;+"+%G+0!0"03898'++++"+
G.'.'G0&c%0%0&'+%082'C2Cc00+
0/+ =% '
+%020 !=P  + 
& G&r5Q+=%68e &++
/0/T//%+&&+"
?&8B0+&8&.&+
<+  /  H=%&
%'"
211
+'+8?&+&02+%EF.+'2"%.++
0+.1;0&"0++8G0+&00%%+"+0=%
++.;-0%"++'8!.++!0=%'0+0+
.!% 0<" +  &0 0+0"  ++ =%+ &%=%' =% &
0%"
4   !&  +% .'++ '2 .G'8 ?& ?&+ !
200  0.N'  +.,-"  " 2  .+' 2@+
00++.,-?&"+'2+2+8?&%+20+0
.'0\
-"?&0%4++0+'.&.+'2!',-"2+%
+'1.+'!G09-+1+.1++'2040.&2+=%
& + ..%9 .  : /&0 %0 040  [)) .&2+" ++  
04080+0&0'+/%J.@/0%+"
4"0.08?&!02+!3'3,+'2
=%'2280/2&08&/+08'0+%+.+/+%
  .'++  &3,-  +%+ &2+"  +'  &0 %0  
;+.,-.+%0/\
   !4'&" + 0% .<+" & 2 +'2" +8 '0 +2
+0.  &0+8 -  !@'& +'2"  !3 =% +   .%
;&,-"
?&?&+8%++&/&9-+"
0/0G'_*)"
212
4   .+  !',- 9&+ G .2 . 90+8 &/%+ E0'9>+F8 
.+%00%&9./<%0+%+&2+8?&&G3#$0"
+!!<'0=%'4'8'2<80++39&+E0+1/F"
b%&.-"+.++\
,03G0;.>0%00%&9.+8&22"
?&-E'0%&9F"%0+//'0.0=%
+'++_R)'0,+_[);/0%&98+!0%0
&"++0%&9E;/F.&+'8=%+%0''%8G=%&2
+'4'+?&"
40 90++;%&39&++0. !%0
!03'9.&&9+0'9>+=%./<0+2+8.G08
0+ ;.&'0 0 + ;+ : 4< 7  ' 7 : ++ 0@'
'3%000++G8G.G'".+0%,!'803+
+;+!0 !0 @/'"0.08?&'+''
7+30.',%0/0/8H+G2=%0&2
G'=%+1'+/%''&%2.1+00/"
"'0.9%++.'++\'9=%0++0/&/%0!0
!&%'%''&%+-'78.&!+!'9+0+0.+
+<++++2&.0+/%;\
++++0/0%"2%0%0%'B+/"
b%'9/%000=%+0G+-!%'200+8'90%+
0/+ 0+ 40+8 +.%+  '%+% 0  0',-" % . +
+"!++0=%&+!"0+0%+%.8%0.++8
0% 3 0+0" 0 I28 ++ +  2 '3%% . 
?&?&+0+%+'1+&"0/0G'_K)"
213
@/'.+I&:=%8&@+8'G0%++'0,+=%%'9+
0+ &+   3    > ! <
#<6 <<>#<
6<<+$#<
"+/'+9+1+E90F?&+
20 .'.&0 Q !'%&  .''+ =% +++ &,>+ 
'0+++'"b%+%0E2+,-FG"
!&.''2/G"
4  % %0 .%'  ++%""" 0 =% '+- ?& ?&+ +&2%
+'2 'O'+\  +'  'O'+  %0 .@' '0%0 % 2 4'
.+'0'2\
0+0!&/:.%'++!':=%&2%?&
''2"+8.0+%08%+'2C&+"
2+0%"40+&%'0'0+%+'O'+"1++%40+.
B%@& + 0+"  %0 .4 &'+" .+8 =% '0,%  +
+!0 0 % +0&8 ?& ! + +++" '&%+2 .=%
+2'.'++&@=%'%&0%01!2"-2
.E0/%&9F!<'O'+"-+%B&"
40!.&&'0++/C'+E0F\
&-'92++/CE0F".+%!0&%"
4  0 'O' .%3&'   )M  %%3  JKKL8 3  
$8?&!0-/+3/,-0.+.&/C++0.
E. '08 22<8 &/9F" G08 &+  'B% + 'O'+8
3+20+.0C'8=%+&+;+8+0@'+++=%
+0. !=P0 +% 38 + '08 08 %+8 &%'%8 '%.,-8
9.'+8'"0.?&''&+%2++-++\?&
!%&/%0.++C'....%3&'+++
;+\"0'9'0'0!'.,-+++;+.&+&+
!@\
   .   %' 9%2 !C'8 0+  .I3&' '0.
/% 200" + +  &+ ;.&0  ,-"  0+ %
0+ 0  0  %+ 20 ?&8 '+  ',-  0&D
%+ 020  .;-8 0 '0.&0  E+0+'0F
..+.?&+'O'+"
214
4'&/39&+!0.4.%,-+'O'+
'0+.'3%,-.8.4=%2JKK(
JKKR"G089@%0'O'JK[M8%&@AC\X+[N"+
%0'++&%'O'+0.!<..%,-+'82
'9'0.I3&'.+.'2B&'0.+\
/+[-G%0'O'-!+'0JK[M:G.'0=%
?&+'2+1.+"/+[  !%0''0 .&
&%0%0@8 0 !+  JKK["  =% B@ !&  %&"  &28 %0
'&N8!&,/.&% 99:+&,-&@2
+"
4 0 &/%0+ 'O'+8 ?& ?&+ < - + +.   &%/ +
'O'+ .%3&' '9+  +% 3 .G'  !''&" ++ .'0 
&0 !&  +.,- % 2  2%&/  3 %+  .
0@'B&\
&0+''9+'2+'O'+"
4    "8 ! + '+>+ 0 =% '9+  3  !0
.%3&'+8=%&2&+++'O'+'B%3?&?&+\
"'9'%0++%&@+++'O'+\
.
J#,-+
'O'+
%+8
 "  
"  !8 %0 ?&
.2'"
215
 0 I28 +0c + 'O'+8 ++0 '0 + ;+ 1'+  ?&8
'3%40.!%0.=%&0.&+++%&/%/08'+/%++%0
+.B0  '/0 2B@2+  &/%/0"  &0 E!&F +3
%"0+++;.C'+&-'+/%02&9+1!2
"
4 0 JKKS8 + 'O'+  ?& !0 %+  .%3&'+ 0  "
 8&2=%"+9%.2+"0!!+&,-+
;+8 =%& 'G %+ . ?& . +'&9 + 'O'+ =% +0 
&2\?%2%0.B+%%&.'&N8++0'0+%+&2+\
-"&;%=%@3e %3!<+++++'&9"&;%
0%+  &8 %0 'G .++&" +++ +- '&%4+ /  ,- 
&3"
40!0++8!"!0=%`R(
a+>J!7+46+<$#$
+<+!7#>
7# < $6!<R(+>
!b" "8'0+'8 'O'G &0 E.0.3F &
%\   '+  + 0% .%,-'4+' %0 '9 
+++8%0H-8%0%008%0&'+.'8%0?&?&+\
'9=%ON!&0!&<:.-<'+.
: ++ +' .-" 0 0 + + '++8  .!%  'O' 2
..%0&'2'+c^%!0/+8
.+++"++9+10&03%0.%'=%&+.%E.%+F++
[)A4'+*)8I+'.%&'Vc02&9+8%
%0+0.&+0c0"""'9=%'V:'&%+2'&:+%3
0%300+=%29"
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