Вы находитесь на странице: 1из 72

!

"

! "#
"$
% & ' "

"
"
"
# $
( ( "
) *( "
( "
+ , - ".
( / ".
) ".
"
/ ".
/ ".

% !
( #0
- #0
# "
1 ##
) #2
%

3 #
&'
( )*+), -& . (/0&,*1+02&
32&
&0 2&04'&0 -& . (/0&,*1+02&
32&
&0 5)6*0 -& . (/0&,*1+02&
32&
( 71'+8+5(*+), -& .( 8+(/+.+*1 $
4 - ) #.
&'
(,(.90& -& . (/0&,*1+02&
32&
,(.90& ,)2+,(*+7& -&0 (/0&,*0
5 ( 20
&'
& 2)-3.& -& . (/0&,*1+02& !
32&
&0 21*:)-&0 -& -+(;,)0*+5
2"
"
) 22
&'
( ,)*+), - &88&5*+8
32&
,(.90& <4(,*+*(*+7& -&0 &88&5*+80
32&
,(.90& <4(.+*(*+7& -& . &2=.)+
( 2
&'
18+,+*+), $
32&
+(;,)0*+5 -&0 5(40&0 $
32&
7(.4(*+), -&0 5),*'(+,*&0 &* '&5)22(,-(*+),0 !
6 $0
&'
"')5&0040 &* 5)6*0 -4 '&5'4*&2&,*
32&
,(.90& -&0 '104.*(*0
32&
+(;,)0*+5 -&0 5(40&0 &* '&5)22(,-(*+),0
" #
) $$
6 ) $
% $
6 ) $.
5 ( ) $.
) -1 "

6 ' #
&'
> '+*3'&0 -& =).+*+<4&0 0(.('+(.&0
32&
1*&'2+,(*+), -&0 5),*'(+,*&0
32&
+(;,)0*+5 &* '&5)22(,-(*+),0 ?
&'
18+,+*+), -& .( 2(00& 0(.('+(.&
32&
(,(.90& -&0 17).4*+),0 -& .( 2(00& 0(.('+(.&
32&
9,*:30& &* '&5)22(,-(*+),0
6 0
&'
18+,+*+), &* 8),-&2&,*0 -& .( 0*'45*4'& 0(.('+(.& ?!
32&
,(.90& -& .( 0*'45*4'& 0(.('+(.& ?!
?
#
&'
18+,+*+), -& .( 8)'2(*+), ?
32&
&0 1*(=&0 -4 =')5&0040 -& .( 8)'2(*+), ?
7 )
&'
(,(.90& -& .( 8+,(.+*1 -&0 +,8)'2(*+),0 ?
32&
& 5),0*(* -&0 '104.*(*0 &* -&0 5)6*0 ?
32&
,(.90& -&0 15('*0 &* +-&,*+8+5(*+), -&0 =')/.32&0 ?
5 (
&'
,(.90& -&0 5):1'&,5&0 ?
32&
&5)22(,-(*+),0 !

!!
" !
(4-+* 0)5+(. &0* 4,& -12('5:& 0=15+8+<4& - +,7&0*+;(*+), &* - 17(.4(*+),
&88&5*41& @ =('*+' - 4, '181'&,*+&. , - (4*'&0 *&'2&0 +. 0 (;+* - 4, 5),5&=*
=&'2&**(,* ;'A5& @ 4,& 1*4-& 4,& +,7&0*+;(*+), -& 5),0*(*&' .&0 15('*0 &,*'& .(
,)'2& &* .( ='(*+<4& 0)5+(.&
(4-+*&4' 8)'24.& &,04+*& -&0 '&5)22(,-(*+),0 -&0*+,1&0 @ (,*+5+=&' .&0
-908),5*+),,&2&,*0 &* .&0 +''1;4.('+*10 &0 '&5)22(,-(*+),0 7+0&'),* .( 2+0& &,
5),8)'2+*1 -&0 =')51-4'&0 &* 0*(*4*0 -& .( 0)5+1*1 (7&5 .&0 ,)'2&0 &, 7+;4&4'
&=&,-(,* 5&**& 2+0& &, 5),8)'2+*1 , &0* &, (454, 5(0 &88&5*41& =(' . (4-+*&4'
.4+>2B2& . (==('*+&,* @ . &,*'&='+0& -& 8(+'& .& ,15&00(+'& =(' 0&0 =')='&0 5(-'&0
)4 /+&, -& '&5)4'+' @ 4, ='&0*(*(+'& &C*&',&
( '1(.+0(*+), - 4, (4-+* 0)5+(. ,15&00+*& (4 2)+,0 *')+0 2)+0 -& *'(7(+.
1.(/)'(*+), -4 '(==)'* =&4* -4'&' @ &..& 0&4.& 4, 2)+0 &* -&2+ 4 2B2& *+*'&
<4& .& 5)6* 8+,(,5+&' +. &0* -),5 *'30 -+88+5+.& -& '&,-'& 5)2=*& -& .( -4'1& - 4,
(4-+* 0)5+(. &.( -1=&,- -& ,)2/'&4C =('(23*'&0 .( *(+..& -& . &,*'&='+0& .&0
-)2(+,&0 <4+ 0&'),* *)45:10 =(' . (4-+* &*5
(4-+* 0)5+(. =&4* ='&,-'& =.40+&4'0 8)'2&0 . (4-+* -& 5),8)'2+*1 5&.4+
)4 2B2& . (4-+* - (,*+5+=(*+),
)4* 5)22& .&0 (4-+*0 (==.+<410 @ - (4*'&0 8),5*+),0 -& . &,*'&='+0& . (4-+* 0)5+(. ,& 0&
.+2+*& =(0 @ .( 0&4.& (4*:&,*+8+5(*+), -&0 5:+88'&0 &* @ .( 71'+8+5(*+), -& .( 5),8)'2+*1 -&0
='(*+<4&0 (7&5 .( .)+ 2(+0 7+0& @ 17(.4&' . &88+5(5+*1 -& . &,0&2/.& )4 - 4,& =('*+& -& .(
8),5*+), =&'0),,&. &, &C(2+,(,* . (-1<4(*+), -&0 5),*'D.&0 (-)=*10 <4+ =&47&,* &,*'(E,&' -&0
=')/.32&0 &* -&0 '+0<4&0 <4 +. 0 (;+'( - +-&,*+8+&' &* - 17(.4&'

+ .( ,)*+), - (4-+* 0)5+(. (==('(E* 5)22& '&.(*+7&2&,* ,)47&..& &..& '&=)0& 04' 4,&
+-1& &, 8(+* 8)'* (,5+&,,& F +0*)'9 )8 4-+*+,;G 8(+* 2B2& '&2),*&' . (==('+*+),
- (4-+*&4'0 @ . 1=)<4& -& . (,5+&,,& ;9=*& )H -&0 5),*'D.&4'0 71'+8+(+&,* . &C(5*+*4-& -&0
5)2=*&0 -&0 +2=)'*(*+),0 &* &C=)'*(*+),0 -& /.1 &* .& 2),*(,* -&0 '15).*&0 &* -&0 +2=D*0
*:3,&0 &, !! (7(,* 4, 5)'=0 - &C=&'*0 1*(+* 5:(';1 -& 71'+8+&' .&0 5)2=*&0
-&0 *'10)'+&'0 =4/.+50 &* 4, (4*'& .&0 5)2=*&0 -& *)4*& =&'0),,& )554=(,* 4,& =)0+*+),
+2=.+<4(,* .( 2(,+=4.(*+), -& 8),- =4/.+50
& *&'2& (4-+* ( 04'*)4* =)4' )'+;+,& .( ='(*+<4& ')2(+,& -& I4;&' .&0 =.(+,*&0 -&7(,*
4,& I4'+-+5*+), @ =('*+' -& . (4-+*+), -& *12)+,0 F(4-+'& 15)4*&'G "');'&00+7&2&,* 5& *&'2&
5),5&',&'( . &C(2&, )88+5+&. -&0 5)2=*&0 (55)2=(;,10 -& 71'+8+5(*+),0 8),-1&0 04' .&0
'181'&,5&0 (==)'*1&0 =(' -&0 *12)+,0 &* -&0 =+35&0 I40*+8+5(*+7&0
& *&'2& - (4-+*&4' (==('(E* &, ,;.&*&''& @ .( 8+, -4 32& 0+35.& (4 -1/4* -4
32& 0+35.& 0+C =&'0),,&0 84'&,* 1.4&0 @ ),-'&0 =)4' 5),0*+*4&' 4, 5),0&+. - (4-+*&4'0
( ='(*+<4& -& . (4-+* 0 +2=.(,*( (4C '(,5& -4'(,* .& 32& 0+35.& (7&5
. +,*')-45*+), -&0 +,7&0*+00&4'0 /'+*(,,+<4&0
(55')+00&2&,* -& . (4-+&,5& -&0 (4-+*&4'0 0 &0* (55)2=(;,1 - 4,& '1)'+&,*(*+), -&
.&4'0 (5*+7+*10 0 1.)+;,(,* -& =.40 &, =.40 -& .( 71'+8+5(*+), 5)2=*(/.& =)4' 0 +,*1'&00&' @ *)40
.&0 -)2(+,&0 -& .( ;&0*+), &**& *&,-(,5& ( (/)4*+ (4C '(,5& @ 5)4=&' . )2/+.+5(. (7&5 .&0
.+7'&0 5)2=*(/.&0 &, &* (-)=*&' =)4' . (4-+* .( -18+,+*+), 04+7(,*& J 4,& (=='15+(*+),
+,-1=&,-(,*& -&0 -+881'&,*&0 )=1'(*+),0 &* 5),*'D.&0 - 4,& &,*'&='+0& =)4' -1*&'2+,&' 0+ -&0
=).+*+<4&0 &* -&0 =')51-4'&0 0),* 04+7+&0 0+ .&0 ,)'2&0 1*(/.+&0 0),* (**&+,*&0 )4 -1=(001&0 0+
.&0 '&00)4'5&0 0),* 4*+.+01&0 -& 8(K), &88+5(5& )4 15),)2+<4& &* 0+ .&0 )/I&5*+80 -&
. )';(,+0(*+), 0),* (**&+,*0
)4*& .( 21*:)-).);+& -& . (4-+* '&=)0& 04' . +-1& -& 5),*'D.& 1*&,-4 (4 0&,0 -&
2(,(;&2&,* -&0 (5*+7+*10 . (5*+), -& . (4-+*&4' &0* &, &88&* -)2+,1& =(' -&4C <4&0*+),0
&00&,*+&..&0
&0 )=1'(*+),0 )4 (5*+7+*10 0),*>&..&0 0488+0(22&,* 5),*'D.1&0 L
&0 2)9&,0 4*+.+010 =)4' (+-&' .&0 ;&0*+),,(+'&0 @ 5),*'D.&' .&4'0 (5*+7+*10 0),*>+.0
(-1<4(*0 &* &88+5(5&0 L

• #$%#& '$ (#)*'+ ,' -#&$)./'


, 8(+* 4,& 5),840+), &0* 8'1<4&22&,* 5)22+0& &,*'& .& 7&'/& J 5),*'D.&' M <4+
&C='+2& . (5*+), -& 7)+' 0+ 5& <4+ -&7(+* B*'& 8(+* . ( /+&, 1*1 &* 0+ .&0 )/I&5*+80 (00+;,10 ),* 1*1
(**&+,*0
( ,)*+), -& 5),*'D.& ( - (+..&4'0 17).41 &0 '&='10&,*(,*0 -& . 15).& J 5.(00+<4& M -4
2(,(;&2&,* 5),5&7(+&,* .& 5),*'D.& 5)22& &00&,*+&..&2&,* 54'(*+8 &* 5),*'(+;,(,* =)4'
# =(' &C&2=.& .& 5),*'D.& 5),0+0*(+* @ 71'+8+&' 0+ *)4*&0 .&0 (5*+7+*10 1*(+&,* 5),-4+*&0
0&.), .& =');'(22& (-)=*1 .&0 )'-'&0 -),,10 &* .&0 ='+,5+=&0 (55&=*10
&=&,-(,* .& 5),*'D.& &0* 2(+,*&,(,* /&(45)4= =.40 5),0+-1'1 5)22& 4,& (+-&
=&'2&**(,* - +,*1;'&' .&0 )/I&5*+80 +,-+7+-4&.0 &* 5&4C -& . &,*'&='+0& &* -& .&0 (**&+,-'& .&
5),*'D.& (==('(E* - (/)'- 5)22& 4, (4*)5),*'D.& -),,(,* .( =)00+/+.+*1 @ 5:(54, -& 2&04'&'
.&0 '104.*(*0 -& 0), (5*+),
(+0 .&0 5),*'D.&0 ,& 0&'),* (-1<4(*0 &* &88+5(5&0 <4& 0 +.0 ),* 1*1 1*(/.+0 =)4' (**&+,-'&
4, )/I&5*+8 . 8(4* -),5 5),,(E*'& 5& -&',+&' (7(,* -& =)47)+' 17(.4&' 71'+*(/.&2&,* . &88+5(5+*1
-&0 2)9&,0 -& 5),*'D.&
+881'&,*0 *9=&0 -& 5),*'D.&0 =&47&,* B*'& -+0*+,;410 0&.), .&4' =1'+)-& - (==.+5(*+),
.&4' )'+;+,& )4 .&4' )/I&*
&0 ='&2+&'0 0),* .&0 =.40 15),)2+<4&0 <4+ 0),* .&0 5),*'D.&0 ='17&,*+80 5(' &,
='17&,(,* .&0 &''&4'0 +.0 17+*&,* .& 5)6* -& .&4'0 5)''&5*+),0 &0 5),*'D.&0 -& -1*&5*+), =.40
5)6*&4C 0),* 5&=&,-(,* &00&,*+&.0 +.0 2&04'&,* . &88+5(5+*1 -&0 ='&2+&'0
,& -&4C+32& 5(*1;)'+& &0* '&='10&,*1& =(' . +,8)'2(*+), -+0=&,01& -(,0 . &,*'&='+0&
<4+ =&4* 5),5&',&' (400+ /+&, .( =')-45*+), .( <4(.+*1 .&0 +,8)'2(*+),0 04' -&0 '&5:&'5:&0
2&,1&0 -(,0 .& -)2(+,& -4 =&'0),,& <4& .&0 =&'5&=*+),0 -&0 2&2/'&0 -4 =&'0),,&. -&
. &,*'&='+0&
, *')+0+32& *9=& -& 5),*'D.& =')7+&,* -& .( 04=&'7+0+), =(' .( :+1'('5:+& <4+ 0 (004'&'(
<4& .&0 (5*+7+*10 ='174&0 ),* 1*1 2&,1&0
& <4(*'+32& *9=& -& 5),*'D.& 5),5&',& .&0 '&00)4'5&0 (+,0+ . &88&5*+8 -4
=&'0),,&. )4 .&0 /4-;&*0 (4*)'+010 )4 .& *&2=0 - )'-+,(*&4'0 -+0=),+/.& =)4' 5:(<4& 0&'7+5&
5),0*+*4(,* (4*(,* -& =)00+/+.+*10 -& 5),*'D.& -& . (5*+7+*1 -4 0&'7+5& 5),0+-1'1

• ' -0-/' ,1 -#&$)./'


& 5),*'D.& &0* 4, =')5&0040 F)4 4, 595.& -&7(,* B*'& 74 5)22& 4, 2)9&, &* ,),
5)22& 4,& 8+,G <4+ 5)2='&,- 4,& 01'+& - 1*(=&0 .( -18+,+*+), -&0 )/I&5*+80 .&0 5'+*3'&0
- 17(.4(*+), .&0 ,)'2&0 .( -1*&'2+,(*+), -&0 5(,(4C =(' .&0<4&.0 . +,8)'2(*+), (''+7& .(
-10+;,(*+), -&0 '&0=),0(/.&0 -& . 17(.4(*+), &* &,8+, .( 5)2=('(+0), -&0 '104.*(*0 )4 )/I&5*+80
&* .&0 (5*+),0 5)''&5*+7&0 <4+ &, -15)4.&,*
& 595.& &* .( ,)*+), -& 5),*'D.& F(4 0&,0 - )=1'(*+), -& 2(,(;&2&,*G 7),* 8),-&' .(
21*:)-& 04' .(<4&..& '&=)0& . (4-+* 0)5+(. &.4+>5+ ='10&,*& 5&=&,-(,* -&0 5('(5*3'&0
0=15+8+<4&0 <4+ 0& 0),* =');'&00+7&2&,* -1;(;10

(4-+* 0)5+(. ( 12&';1 =');'&00+7&2&,* &, 0& -+881'&,5+(,* -& . (4-+* ;1,1'(. &*
8+,(,5+&' =(' .& -)2(+,& 1*4-+&' &* .&0 '1(5*+),0 0405+*1&0

+ . (4-+* 0)5+(. , &0* =(0 4,& +-1& ,)47&..& 0( -18+,+*+), ( 17).41 &, 8),5*+), -4
-)2(+,& (4-+*1 &* -&0 21*:)-&0 (-)=*1&0
&0 ='&2+3'&0 *&,*(*+7&0 - 17(.4(*+), 8)'2(.+01&0 -(,0 .& -)2(+,& 0)5+(. '&2),*&,* (4C
(,,1&0 ! &, '(,5& &..&0 0 (**(5:(+&,* @ 2&04'&' .&0 5),01<4&,5&0 15),)2+<4&0 -& 5&'*(+,&0
)=1'(*+),0 -& ;&0*+), -4 =&'0),,&. &* +2=.+<4(+&,* <4& 5&0 17(.4(*+),0 0)+&,* '1(.+01&0 =(' -&0
(;&,*0 &C*1'+&4'0 @ . &,*'&='+0& (==('*&,(,* 0)+* (4 ;)47&',&2&,* 0)+* @ -&0 (;&,5&0 ='+71&0
+,0+ &, ? =')=)0(+* -& -18+,+' . (4-+* 5)22& 4,& (,(.90& -&0
=).+*+<4&0 &* ='(*+<4&0 -& =&'0),,&. - 4,& &,*'&='+0& )4 - 4, 1*(/.+00&2&,* =)4' -1*&'2+,&'
. &88+5(5+*1 &* .& /+&, 8),-1 -&0 =).+*+<4&0
, =&4 =.40 *('- 5 &0* 04'*)4* -(,0 .&0 ;'(,-&0 &,*'&='+0&0 <4& . (4-+* 86* 2&,1 -&
8(K), 090*12(*+<4& &00&,*+&..&2&,* 04' .&0 8),5*+),0 <4+ (7(+&,* .& =.40 -& '(==)'* (7&5 .&0
5)6*0 F0(.(+'&0 ,1;)5+(*+), 5)..&5*+7& (,(.90& &* 5.(00+8+5(*+), 5)..&5*+7& -& =)0*&0G (+0
. &,0&2/.& -&0 8),5*+),0 -& =&'0),,&. =)47(+* B*'& (4-+*1 .)'0<4& .& /&0)+, 0 &, 8(+0(+* 0&,*+'
&'*(+,0 ='(*+5+&,0 5),5&7(+&,* . (4-+* &, -&4C =('*+&0 .( ='&2+3'&
5),5&',(,* .( 71'+8+5(*+), =(' -&0 21*:)-&0 -1*(+..1&0 -4 -&;'1 - (==.+5(*+), -&0 =).+*+<4&0 &*
=')51-4'&0 -& =&'0),,&. =(' .( :+1'('5:+& N . (4*'& 5&,*'1 04' .&0 <4&0*+),,(+'&0 - (**+*4-&0
(4='30 -4 =&'0),,&.
")4' ,)*'& =('* ,)40 -18+,+'),0 . (4-+* 0)5+(. 5)22& 4,& -12('5:& )/I&5*+7&
+,-1=&,-(,*& &* +,-45*+7& - )/0&'7(*+), - (,(.90& - 17(.4(*+), &* -& '&5)22(,-(*+),
'&=)0(,* 04' 4,& 21*:)-).);+& &* 4*+.+0(,* -&0 *&5:,+<4&0 =&'2&**(,* =(' '(==)'* @ -&0
'181'&,*+&.0 &C=.+5+*&0 - +-&,*+8+&' -(,0 4,& ='&2+3'& 1*(=& .&0 =)+,*0 8)'*0 .&0 =')/.32&0
+,-4+*0 =(' . &2=.)+ -4 =&'0),,&. &* .&0 5),*'(+,*&0 0)40 8)'2& -& 5)6*0 &* -& '+0<4&0 &5+
5),-4+* @ -+(;,)0*+<4&' .&0 5(40&0 -&0 =')/.32&0 -15&.10 @ &, 17(.4&' . +2=)'*(,5& &* &,8+, @
(/)4*+' @ .( 8)'24.(*+), -& '&5)22(,-(*+),0 )4 =')=)0+*+),0 - (5*+), <4+ ,& 0),* I(2(+0 2+0&0
&, O47'& =(' . (4-+*&4'

( 0=15+8+5+*1 -& . (4-+* 0)5+(. 8),-& &00&,*+&..&2&,* 04' .( ,(*4'& -4 -)2(+,& (4-+*1
<4+ @ 0), *)4' 7( -1*&'2+,&' . 4*+.+0(*+), -& 5&'*(+,&0 21*:)-&0 &* *&5:,+<4&0 =')='&0 @ 5& *9=&
- (4-+*

• 23'-$%(+ ,' / 41,%$ +#-%4/


)4* 5)22& . (4-+* &, ;1,1'(. . (4-+* 0)5+(. ( =)4' /4* 4.*+2& - (21.+)'&' . &88+5(5+*1
-& . &,*'&='+0& =(' . +,*&'21-+(+'& -& 5&..& -& .( ;&0*+), -4 =&'0),,&. +. ,& 0& 8(+* -),5 =(0
5),*'& )4 04' . &,*'&='+0& )4 .& -+'&5*&4' -4 =&'0),,&. 2(+0 =)4' &..& &* (7&5 .4+
(4-+* 0)5+(. (==('(E* 5)22& 4, 5)2=.12&,* ,(*4'&. -& . (4-+* 8+,(,5+&' *)4* &,
'&,*'(,* -(,0 .( ;'(,-& 8(2+..& -&0 (4-+*0 . 0 &, -+881'&,5+& 5&=&,-(,* =(' 5&'*(+,&0
5('(5*1'+0*+<4&0 .+1&0 (4 -)2(+,& (4-+*1 &* @ .( 21*:)-& 4*+.+01& <4+ .& '&,-&,* 0=15+8+<4&

• 56-%(%-%$6+ /%6'+ 41 ,#*4%&'


&0* 71'+*(/.&2&,* .& -)2(+,& F)4 . )/I&*G <4+ 5),83'& @ . (4-+* 0)5+(. 0( 0=15+8+5+*1
.( 8),5*+), =&'0),,&. &* .&0 -+7&'0&0 0)40>8),5*+),0 <4+ .( 5)2=)0&,* ),* 4, 5('(5*3'&
<4(.+*(*+8 <4+ 7( (7)+' -&0 '1=&'54*+),0 04' .&0 5),01<4&,5&0 -& . (4-+* &* 04' .&0 21*:)-&0
'&*&,4&0 (4-+* &, <4(,*+8+(,* .& <4(.+*(*+8 =)4' 5('(5*1'+0&' 4,& 0+*4(*+), 0)5+(.& +,-4+* -&0
5:(,;&2&,*0 -& 5)2=)'*&2&,*0 <4&.<4&0 8)+0 (7(,* <4& .&0 '&5)22(,-(*+),0 (4C
=')=)0+*+),0 0)+&,* 8)'24.1&0 (+,0+ (7(,* 2B2& <4& ,& 0)+* *&'2+,1 4, (4-+* -&
. (/0&,*1+02& 5&.4+>5+ (4'(+* -+2+,41 -& 8(K), ,)*(/.&
• 56-%(%-%$6+ *6$7#,#/#8%91'+ ,' / 41,%$ +#-%4/
( 2&04'& - 15('*0 +2=.+<4& 4,& 5)2=('(+0), &,*'& .( 7(.&4' -&0 +,-+5(*&4'0 &C*&',&0 &*
5&..& -&0 ,)'2&0 )4 0*(,-('-0 +004&0 -& '181'&,*+&.0 0=15+8+<4&0 @ .( 8),5*+), =&'0),,&. &*
*+&,,&,* 5)2=*& -&0 5),*'(+,*&0 =('*+54.+3'&0 -(,0 .& -)2(+,& .1;+0.(*+8 '1;.&2&,*(+'& )4
5),7&,*+),,&. *)4* (4*(,* <4& -&0 5('(5*1'+0*+<4&0 -& . &,*'&='+0& )4 . 1*(/.+00&2&,* (4-+*1
)4* (4-+*&4' ( 4,& )/.+;(*+), -& 2)9&,0 2(+0 (400+ -& '104.*(*0 +. &0* +2=)00+/.& -&
-+'& ( ='+)'+ <4&..&0 0&'),* .&0 5),5.40+),0 - 4, (4-+* 0)5+(. &* -& 5& 8(+* . (4-+*&4' -)+* I40*+8+&'
<4& .&0 '104.*(*0 ='10&,*10 ),* 1*1 )/I&5*+7&2&,* )/*&,4&0
+,0+ .&0 )=+,+),0 &* =&'5&=*+),0 0),* 4, 1.12&,* 8),-(2&,*(. -& . +,8)'2(*+), -(,0
. (4-+* 0)5+(. 5&5+ +2=.+<4& <4& .& '&5)4'0 @ -&0 *&5:,+<4&0 5.(00+<4&0 - &,*'&*+&, - &,<4B*&0
- )=+,+), )4 - (**+*4-&0

(4-+* 0)5+(. =&4* 0 (==.+<4&' (400+ /+&, @ .( 8),5*+), =&'0),,&. -(,0 0), &,0&2/.&
<4 @ -&0 0)40>8),5*+),0 F'&5'4*&2&,* 0(.(+'& 8)'2(*+), &*5 G @ -&0 =');'(22&0 =('*+54.+&'0
F(/0&,*1+02& *4',>)7&' &*5 G
(4-+* =&4* B*'& 2&,1 @ *')+0 ,+7&(4C (-2+,+0*'(*+), ;&0*+), &* 0*'(*1;+& . 5),7+&,*
*)4*&8)+0 -& '&2('<4&' <4 4, (4-+* 2&,1 @ 4, 0&4. -& 5&0 ,+7&(4C 04==)0& <4& 5&.4+>5+ 0)+*
-1I@ +-&,*+8+1 5)22& =)'*&4' -& '+0<4&0 . 0 (;+* &, &88&* -& -1*&'2+,&' .&0 0)4'5&0 -&
=')/.32&0 &* -& '+0<4&0 &,5)4'40 @ '(+0), -& -908),5*+),,&2&,*0 (==('(+00(,* @ -+881'&,*0
,+7&(4C (-2+,+0*'(*+), -4 =&'0),,&. ;&0*+), =).+*+<4&0
• 1 5)'*%') &%:'41 . (4-+* =)'*&'( 04' .( 8+(/+.+*1 &* .( 7(.+-+*1 -&0 +,8)'2(*+),0 &* 04'
.( 5),8)'2+*1 .1;(.& -&0 '104.*(*0 )/*&,40
(4*:&,*+8+5(*+), -&0 5:+88'&0 &0* . )=1'(*+), 0& '(==')5:(,* .& =.40 -& .( 71'+8+5(*+),
&C*&',& (4 0&,0 5)2=*(/.& . (4-+*&4' -&0 5:+88'&0 &0* . )=1'(*+), 0& '(==')5:(,* .& =.40
-& .( 71'+8+5(*+), &C*&',& (4 0&,0 5)2=*(/.& . (4-+*&4' 71'+8+& 0+ .&0 +,8)'2(*+),0
8)4',+&0 0),* 7(.+-&0
• ' ,'1;%<*' &%:'41 , 41,%$ '&5)47'& . &C(2&, -& . (==.+5(*+), -&0 =')51-4'&0 -&
.&4' (-1<4(*+), -&0 =')51-4'&0 -& .&4' (-1<4(*+), (4C )/I&5*+80 7+010 -& .&4' -&;'1
- (==.+5(*+), &* -& .&4' 5(=(5+*1 @ =')7)<4&' .&0 '104.*(*0 (**&,-40
( 5):1'&,5& -&0 =')51-4'&0 (7&5 - (4*'&0 =')51-4'&0 -(,0 .( 2B2& 8),5*+), 0&'(
&,7+0(;1& @ 5& ,+7&(4
• ' ,')&%') &%:'41 , 41,%$ 5)''&0=),- (4C -15+0+),0 0*'(*1;+<4&0 &0 =).+*+<4&0 -&
=&'0),,&. 0),*>&..&0 5),8)'2&0 (4C )/I&5*+80 =)4'04+7+0 =(' . &,*'&='+0& L C+0*&>+. -&0
)/I&5*+80 L ( 0*'(*1;+& ;.)/(.& -& . &,*'&='+0& +,5.40&>*>&..& .& 8(5*&4'
:42(+, L ( 0*'(*1;+& -& =&'0),,&. &0*>&..& (-(=*1& (4C 5),*'(+,*&0 &* 5:(,;&2&,*0
+,*&'7&,40 -(,0 . &,7+'),,&2&,* -& . &,*'&='+0& L

,8+, . )';(,+0(*+), -& .( 8),5*+), =&'0),,&. &* .&0 2)9&,0 -+0=),+/.&0 0),*>+.0
(-1<4(*0 (4C )/I&5*+80 =)4'04+7+0 L ( 5&,*'(.+0(*+), -& . +,8)'2(*+), , &0*>&..& =(0 &C5&00+7& L
4 (4 5),*'(+'& +,0488+0(,*& L &0 2&2/'&0 -4 -1=('*&2&,* -& =&'0),,&. 0),*>+.0 ='B*0 @
(0042&' -&0 *A5:&0 (4*'&0 <4 (-2+,+0*'(*+7&0 L

+7&(4
- (5*+7+*10 -& +7&(4 - (4-+*
2(,(;&2&,*
-2+,+0*'(*+), 4*:&,*+8+5(*+), -&0 5:+88'&0
),8)'2+*1 .1;(.&
%&0*+), ==.+5(*+), -&0 =')51-4'&0 &C+0*(,*&0 ),8)'2+*1
):1'&,5&0 -&0 =')51-4'&0 (7&5 ):1'&,5&
> &0 =).+*+<4&0
> &0 (4*'&0 =')51-4'&0 ):1'&,5&
"&'*+,&,5& -&0 =')51-4'&0
*'(*1;+& C+0*&,5& - )/I&5*+80 88+5(5+*1
):1'&,5& +,*&',& -&0 )/I&5*+80
';(,+0(*+), -& .( 8),5*+), =&'0),,&.
,5.40+), - )/I&5*+80 -& =&'0),,&. -(,0 .( 0*'(*1;+&
-(=*(*+), @ . &,7+'),,&2&,*

)6*0
+0<4&0

!
(4-+* ,& 0(4'(+* &,8+, B*'& 5),8),-4 (7&5 5&'*(+,0 )4*+.0 )4 *&5:,+<4&0 <4 +.
4*+.+0& &* <4 +. 5),*'+/4& - (+..&4'0 @ (21.+)'&'
+,0+ .& /+.(, 0)5+(. =&4* B*'& 4*+.+01 =(' . (4-+*&4' 5)22& ='&2+3'& /(0&
- +,8)'2(*+),0 ,15&00(+'& 2(+0 ,), 0488+0(,*& =)4' +-&,*+8+&' .&0 15('*0 N +. =&4* 8(+'& . )/I&*
- 4, (4-+* <4+ 17(.4& .( 8+(/+.+*1 -&0 -),,1&0 &* .( 5),8)'2+*1 .1;(.&
& 2B2& . (=='15+(*+), -&0 =&'8)'2(,5&0 +,-+7+-4&..&0 &0* 4, -&0 1.12&,*0 <4&
='&,-'( &, 5)2=*& . (4-+*&4' =)4' -15&.&' 5&'*(+,0 =')/.32&0 =)4' 71'+8+&' 0+ .&0 =')51-4'&0
0),* '&0=&5*1&0 &* =)4' &C(2+,&' 0+ &..&0 (**&+;,&,* . )/I&5*+8 7+01
& *(/.&(4 -& /)'- F<4(,- +. &C+0*&G '&='10&,*& 1;(.&2&,* 4, 1.12&,* - +,8)'2(*+),
=)4' I4;&' -& .( 5(=(5+*1 -& 5),*'D.& &* -& ='17+0+), -(,0 .( 8),5*+), =&'0),,&. 2(+0 (400+ 4,
-&0 (/)4*+00&2&,*0 -& . (4-+* 0)5+(. <4+ 5),*'+/4&'( @ . (21.+)'(*+), -& 0( ='10&,*(*+), &* -&
0), 5),*&,4 &, 9 +,5.4(,* -&0 +,-+5(*&4'0 0+;,+8+5(*+80 -&0 =')/.32&0 -+(;,)0*+<410 &* -&0
'+0<4&0 .&0 =.40 ;'(7&0 =)4' . &,*'&='+0&
(4-+* 0)5+(. -+883'& -),5 -& 5&'*(+,0 -)2(+,&0 (5*+7+*10 (==')5:&0 &* )4*+.0 @ .( 8)+0
=(' .&0 )/I&5*+80 7+010 =(' .( 21*:)-).);+& 4*+.+01& &* =(' .& -)2(+,& '&*&,4

" #
+&, <4& 5:(<4& (4-+* 0)5+(. 0)+* -+881'&,* - 4,& &,*'&='+0& @ . (4*'& -4 8(+* -&0
0=15+8+5+*10 '&,5),*'1&0 .( 21*:)-& ;1,1'(.& 04+7+& =(' . (4-+*&4' '&0*& .( 2B2&

"
&.), 4,& -18+,+*+), 5.(00+<4& .( 2&04'& &0* . (00+;,(*+), -& ,)2/'&0 @ -&0 )/I&*0 )4
171,&2&,*0 F&,*&,-40 +5+ (4 0&,0 -& 5),01<4&,5&0 )4 -& '104.*(*0G 0&.), 5&'*(+,&0 '3;.&0
&.( +2=.+<4& . 4*+.+0(*+), - +,-+5(*&4'0 =)4' 2&04'&' -&0 '104.*(*0
( -12('5:& +,-45*+7& 04+7+& =(' . (4-+*&4' +2=.+<4& <4& .&0 =:1,)23,&0 0)+&,*
- (/)'- )/0&'710 0)40 8)'2& -& '104.*(*0 F8+;4'& 5+>-&00)40G &0 5)2=)'*&2&,*0 ,& =&47&,*
B*'& (=='1:&,-10 <4& 0)40 5&**& 8)'2& +,0+ . +,0(*+08(5*+), &0* - (/)'- 5&',1& =(' 0&0
2(,+8&0*(*+),0 *(,;+/.&0 )/0&'7(/.&0 F(/0&,*1+02& *4',>)7&' (55+-&,*0 -(,0
5&'*(+,0 5(0 5),8.+*0 &*5PG & , &0* <4& .)'0<4 +. 8(4* '&2),*&' (4C 5(40&0 <4& - (4*'&0
+,-+5(*&4'0 -&7'),* B*'& '&*&,40 <4+ -)+7&,* '&=)0&' 04' -&0 5),5&=*0 &* -&0 *:1)'+&0 , 5&
0&,0 .( ,)*+), -& 2&04'& ( =4 B*'& -18+,+& -& 8(K), =.40 .(';& 5)22& 4, =')5&0040 .+(,* -&0
5),5&=*0 (/0*'(+*0 @ -&0 +,-+5(*&4'0 &2=+'+<4&0 +2=.+<4(,* 4, =.(, =)4' 5.(00&' &* <4(,*+8+&'
.&0 +,-+5(*+),0 '&54&+..+&0 &, 8),5*+), -&0 5),5&=*0 04' .&0<4&.0 . :9=)*:30& &0* 8),-1&
( 2&04'& &0* (+,0+ 8),-(2&,*(.&2&,* .+1& @ . 4*+.+0(*+), - +,-+5(*&4'0 (+0 4,
+,-+5(*&4' ,& 0+;,+8+& '+&, &, .4+>2B2& ( 7(.&4' -)+* B*'& 5)2=('1& @ 4,& ,)'2& )4 0*(,-('-
(8+, -& 5),0*(*&' -&0 15('*0 - &, 17(.4&' .& 5('(5*3'& 0+;,+8+5(*+8 =)4' &, *+'&' -&0 5),5.40+),0
04' . &C+0*&,5& - 4, =')/.32&
( ;'(7+*1 -& 5& =')/.32& 0&'( (=='1:&,-&' 0)40 8)'2& -& 5)6*0 &* -& '+0<4&0 -18+,+0
5)22& .&0 5),01<4&,5&0 - 171,&2&,*0 &0*+210 &, *&'2& -& 5)6*0 =')/(/+.+010
&0 -+7&'0 1.12&,*0 -& .( 2&04'& 171,&2&,*0 )4 '104.*(*0 )4 5'+*3'&0 +,-+5(*&4'0
,)'2&0 '181'&,*+&.0 15('*0 5)6* &* '+0<4&0 -)+7&,* B*'& /+&, -+881'&,5+10 =)4' 5),0*+*4&' -&0
/(0&0 .);+<4&0 &* 06'&0 -& . (4-+* +,0+ 4, 171,&2&,* 5)22& .& *4',>)7&' =&4* B*'& -15&.1
=(' -+7&'0 +,-+5(*&4'0 *&.0 <4&
F )2/'& - &,*'1&0 Q ,)2/'& -& 0)'*+& R G R 88&5*+8 2)9&,
4
)2/'& -& -1=('*0 R 88&5*+8 2)9&,

"(' 171,&2&,*0 +. 8(4* &,*&,-'& .&0 2(,+8&0*(*+),0 )4 5),01<4&,5&0 -&0 =')/.32&0


-1'+710 -& . &2=.)+ -& =&'0),,&. -(,0 . &,*'&='+0& . 0 (;+* .@ -& '104.*(*0 )/0&'7(/.&0 <4+ 7),*
-15.&,5:&' .& =')5&0040 -& . (4-+* 0)5+(. &, 5& 0&,0 5& 0),* -&0 5'+*3'&0 =)4' I4;&' 4,&
0+*4(*+),
,& 5.(00+8+5(*+), -&0 171,&2&,*0 =&4* B*'& 1*(/.+& 8),-1& 04' .( .)5(.+0(*+), -&0
171,&2&,*0 F+,*&',&0 )4 &C*&',&0 @ . &,*'&='+0&G &* .&4' ,(*4'&
&0 171,&2&,*0 +,*&',&0 =&47&,* B*'& -+881'&,5+10 0&.), .( ,(*4'& -& .&4'0 5),01<4&,5&0
&, '+0<4&0 =:90+<4&0 2(*1'+&.0 5)2=)'*&2&,*(4C -& 0*'45*4'&0 - &2=.)+
)40 5&0 171,&2&,*0 =&47&,* B*'& (00+2+.10 @ -&0 '+0<4&0 5),*'D.(/.&0 =(' . &,*'&='+0&
5&4C <4+ 04'7+&,,&,* -(,0 0), &,7+'),,&2&,* 5),0*+*4&,* -&0 5),*'(+,*&0 &C*&',&0 (4C<4&..&0
5&..&>5+ -)+* ;1,1'(.&2&,* 0 (-(=*&'
&0 171,&2&,*0 <4+ 0& =')-4+0&,* @ . +,*1'+&4' -& . &,*'&='+0& =&47&,*
1;(.&2&,* (7)+' 4,& 5),01<4&,5& @ . &C*1'+&4' 0& *'(-4+0(,* =(' &C&2=.& =(' 4,& -1;'(-(*+),
-& 0), +2(;& &* -&0 +,*&'7&,*+),0 -&0 *+&'0

;'*5/' , %&,%-4$'1)+ ,' ,%:')+ 6:6&'*'&$+ +#-%41;

4$68#)%'+ 05'+ , 6:6&'*'&$+ ;'*5/' , %&,%-4$'1)+


70+%91'+ 55+-&,*0 )2/'& F&* 17).4*+),G
.&004'&0 (4C -& 8'1<4&,5&
1530 (4C -& ;'(7+*1
(.(-+&0 =')8&00+),,&..&0
4$6)%'/+ ).0 )2/'& &* +2=)'*(,5& F&*
%(0=+..(;&0 17).4*+),G
(/)*(;&0 12('<4& +,5),,4&
'&+,(;&0
55')+00&2&,* -&0 '&/4*0 S
+2+,4*+),0 -& .( <4(.+*1 (55+-&,*0 2(*1'+&.0
)2/'& -& =(,,& ,)2/'& -&
'15.(2(*+),0 R'&*)4'0
&,%:%,1'/+ &*('-0 '1<4&,5&0 F&* 17).4*+),G
'&+,(;&0 +2+,4*+), -&0 5(-&,5&0
/0&,*1+02& 5)2='&00+/.& 4'1& &* 8'1<4&,5&
&.(*+), (7&5 .( 5.+&,*3.& 15.(2(*+), =.(+,*&0
4',>)7&' )2/'& -& -1=('*0 &, T -& .(
5(*1;)'+& -& =&'0),,&.
- (==('*&,(,5& F&* 17).4*+),G
)2/'& -& -1=('*0 -&
,)47&(4C &2/(45:10 &*
17).4*+),0
#//'-$%(+ '&+,(;&0 )+' =.40 :(4*
(/)*(;&0 )+' =.40 :(4*
%'37&0 0=15+8+<4&0 @ . &,*'&='+0& "')=&,0+), @ .( ;'37&
> )2/'& -& I)4'0
=&'-40R ,)2/'& -& I)4'0
*'(7(+..10
> )2/'& - (''B* -&
*'(7(+.
> (4C -& =('*+5+=(*+),
> 4'1& 2)9&,,&
$)1-$1)' "&'*& -& 5'1-+/+.+*1
"&'*& -& 5),*'D.& )4'* 5+'54+*(;& -&
),8.+*0 +,*&';')4=&0 . &,5(-'&2&,*
),8.+*0 +,-+7+-4&.0 )2/'& &* 17).4*+),
,5+-&,*0 )2/'& &* 17).4*+),
&*('-0
''&4'0
,8)'2(*+),0 /+(+01& '1<4&,5&
#1) -7491' (#&-$%#& ,' ),>5),8)'2+*1 @ .( .)+ F" &* 5('*0
5')+#&&'/ =)'-)1$'*'&$ (2&,-&0G 4' -1=&,0&0 F'&7&'0&2&,* (4
(#)*4$%#& +4/4%)'+ '10)' =)4' .( 8)'2(*+),G
'$->? ''&4'0
)+,-'& =&'8)'2(,5& 5('*0 =(' '(==)'* (4C )/I&5*+80
1<4(.+8+5(*+),R 4'<4(.+8+5(*+), (+00& -4 5)&88+5+&,* 2)9&, -&
4'&88&5*+8 <4(.+8+5(*+),
4'5)6* 5('*0
/0).&05&,5& +,5)2=1*&,5& 5('*0
15),,(+00(,5& -& ,)47&..&0
*&5:,+<4&0 (==.+5(*+), -&
*&5:,+<4&0 +,(-(=*1&0

& 24.*+=.&0 +,-+5(*&4'0 0),* @ .( -+0=)0+*+), -& . (4-+*&4' 0)5+(. )4*&8)+0 +. &0*
,15&00(+'& - &, 5)2='&,-'& .( ,(*4'& &* .&0 5),-+*+),0 - 4*+.+0(*+),0 =)4' &, -),,&' 4,&
+,*&'='1*(*+), 5)''&5*&

• 6(%&%$%#& '$ $05'+ , %&,%-4$'1)+


, +,-+5(*&4' &0* 4, +,0*'42&,* -& 2&04'& 0& '(==)'*(,* @ 4,& ;'(,-&4' 5('(5*1'+0(,* 4,
=:1,)23,& <4+ , &0* I(2(+0 -+'&5*&2&,* (=='1:&,-1 2(+0 0&4.&2&,* 5&',1 -(,0 0&0
2(,+8&0*(*+),0 4, +,-+5(*&4' 0 (==.+<4& @ -&0 '104.*(*0 17(.410 &, *&'2&0 -& <4(,*+*10 -&
5)6*0 -& 5)2=)'*&2&,*0 - (**+*4-&0 )4 - )=+,+),0
. (-)=*& .( 8)'2& 0)+* -& -),,1&0 /'4*&0 &, <4(,*+*10 )4 &, -+':(20 0)+* =.40
;1,1'(.&2&,* -& '(*+)0
&0 +,-+5(*&4'0 7+0&,* @ 2&**'& &, 17+-&,5& .&0 5('(5*1'+0*+<4&0 -&0 5),-+*+),0 0)5+(.&0
='17(.(,* -(,0 4, =(90 @ 4, 2)2&,* -),,1 (+,0+ 0),* '&*&,40 . &0=1'(,5& -& 7+& . +,5(=(5+*1
*&2=)'(+'& )4 =&'2(,&,*& .( 05).('+*1 .& *(4C -& 5:D2(;& .& *'(7(+. @ *&2=0 =('*+&.
+,7).),*(+'& .( -4'1& 2)9&,,& -& *'(7(+. .& *&2=0 -& *'(I&* .&0 (55+-&,*0 2)'*&.0 .&0
,4+0(,5&0 04' .& .+&4 -& *'(7(+. .( '1=('*+*+), -&0 '&7&,40 -&0 =(*'+2)+,&0 .&0 5),-+*+),0 -&
.);&2&,* &*5 P (4 *)*(. +,-+5(*&4'0 ),* 1*1 '&*&,40 &0 +,-+5(*&4'0 0),* -& *9=&0 )/I&5*+80
F=(' &C&2=.& =)00+/+.+*1 -& .);&2&,*G &* <4(.+*(*+8 5)22& .&0 0(*+08(5*+),0 &* (**&,*&0 -&0
+,-+7+-40 =(' '(==)'* (4 .);&2&,*

• '+ -#&,%$%#&+ , 1$%/%+4$%#&+ ,'+ %&,%-4$'1)+

4 (%42%/%$6
&..&>5+ &0* -18+,+& 5)22& .( 5(=(5+*1 - 4, +,-+5(*&4' @ 2&04'&' (7&5 4,&
'&.(*+7& (/0&,5&0 - &''&4'0 .& =:1,)23,& 1*4-+1 5 &0*>@>-+'& - )/*&,+' .& 2B2& '104.*(* 0+ 5&*
+,-+5(*&4' &0* (==.+<41 -(,0 .&0 2B2&0 5),-+*+),0 . 5),7+&,* -& '&2('<4&' <4 4,& 2&04'&
5),*+&,* *)4I)4'0 4,& =('* (.1(*)+'& &* <4& -& 5& 8(+* .( ,), 8+(/+.+*1 @ 4, 5&'*(+, -&;'1 &0*
*)4I)4'0 ='10&,*&
( 8+(/+.+*1 5),5&',& -),5 .( =')/(/+.+*1 - )/*&,+' .& 2B2& '104.*(* (7&5 .& 2B2&
+,0*'42&,* .)'0 - 40(;&0 '1=1*10 0)+* =(' -+881'&,*&0 =&'0),,&0 0)+* @ -&0 2)2&,*0 -+881'&,*0
=(' .& 2B2& +,-+7+-4
)40 .& *&'2& -& 8+(/+.+*1 0& '&*')47&,* .&0 ,)*+),0 -& 0*(/+.+*10 ='15+0+),0 )4
0&,0+/+.+*1 5),0+0*(,5& )/I&5*+7+*1 8+-1.+*1 ( 0*(/+.+*1 &0* .& -&;'1 0&.), .&<4&. .& =:1,)23,&
)/0&'71 ,& 7('+& =(0 0+ .&0 )/0&'7(*+),0 0),* 8(+*&0 @ -&0 2)2&,*0 -+881'&,*0 N .( ='15+0+), )4
0&,0+/+.+*1 &0* .& -&;'1 - &C(5*+*4-& (7&5 .&<4&. . +,-+7+-4 (''+7& @ 2&04'&' .&0 7('+(*+),0 -4
=:1,)23,& 1*4-+1 N . )/I&5*+7+*1 '&5)47'& . )/*&,*+), -4 2B2& '104.*(* 04+*& @ . 4*+.+0(*+), -4
2B2& +,-+5(*&4' =(' -&4C )/0&'7(*&4'0 -+881'&,*0 N .( 5),0+0*(,5& &0* .& -&;'1 0&.), .&<4&. -&0
+,-+5(*&4'0 -+881'&,*0 2&04'&,* .( 2B2& 5:)0& N &,8+, .( 8+-1.+*1 5),5&',& .( 5(=(5+*1 -&
. +,-+5(*&4' @ '&0*+*4&' .& 2+&4C =)00+/.& .& =:1,)23,& 1*4-+1

4 :4/%,%$6
( 7(.+-+*1 '&5)47'& .( 5(=(5+*1 -& . +,-+5(*&4' @ 2&04'&' 5& <4 +. &0* 5&,01 2&04'&' (
8+(/+.+*1 &0* .( 5),-+*+), ,15&00(+'& -& .( 7(.+-+*1
, -+0*+,;4& *')+0 *9=&0 -+881'&,*0 -& 7(.+-+*1 ='1-+5*+7& +,*&',& &C*&',&
( 7(.+-+*1 ='1-+5*+7& (==&.1 (400+ 7(.+-+*1 .+1& (4 5'+*3'& 5),5&',& .( 5)''&0=),-(,5&
&,*'& . +,-+5(*&4' &* .& 5'+*3'& 4*+.+01 ( 7(.+-+*1 ='1-+5*+7& &0* -),5 ;1,1'(.&2&,* &0*+21& =('
.( 8)'5& -4 .+&, -& 5)''1.(*+), &,*'& .&0 -&4C
( 7(.+-+*1 +,*&',& 5),5&',& . (-1<4(*+), - 4, +,-+5(*&4' (4 -)2(+,& 1*4-+1 &.(
+2=.+<4& <4& . 4*+.+0(*&4' -& . +,-+5(*&4' (+* 4,& /),,& 5),,(+00(,5& -& .( .+**1'(*4'& &* -&0
:9=)*:30&0 <4+ ),* 1*1 8)'24.1&0 )' +. ( 1*1 ,)*1 <4& *'30 =&4 - +,-+5(*&4'0 0)5+(4C ),* 8(+*
. )/I&* - 4,& 7(.+-(*+), 01'+&40&
( 7(.+-+*1 &C*&',& 5),5&',& .& -&;'1 0&.), .&<4&. 4, +,-+5(*&4' =('*+54.+&' &0* .+1 @
- (4*'&0 -(,0 .& /4* -& 2&04'&' .& -)2(+,& 5),5&',1 &.( +2=.+<41 (400+ -& 5),,(E*'& .(
*:1)'+& &* .&0 :9=)*:30&0 <4+ &, -15)4.&,*
4*'& .&0 5),-+*+),0 -& 8+(/+.+*1 &* -& 7(.+-+*1 .&0 +,-+5(*&4'0 -)+7&,* ='10&,*&' 4,
5&'*(+, ,)2/'& -& 5('(5*1'+0*+<4&0 5)22& 5&..&0 - B*'& 15),)2+<4&0 ='(*+<4&0 &* (55&=*10
( -1*&'2+,(*+), -&0 15('*0 =&'2&* @ . (4-+*&4' 0)5+(. -& -18+,+' .&0 =')/.32&0
(==('&,*0 +. 5),7+&,* 2(+,*&,(,* - &, 17(.4&' .&0 5),01<4&,5&0 &, *&'2&0 -& 5)6*0
2),1*(+'&0 &* ,), 2),1*(+'&0 =(0010 &* 84*4'0
. &0* ,15&00(+'& - 17(.4&' .( ;'(7+*1 -&0 5),01<4&,5&0 -&0 =')/.32&0 5 &0*>@>-+'& .&4'
+2=(5* 04' .& 8),5*+),,&2&,* &* .( '&,*(/+.+*1 -& . &,*'&='+0& =4+0 - (=='15+&' .&4' =')/(/+.+*1
- )554''&,5& 0)40 8)'2& -& '+0<4&0

• '+ -#@$+
17(.4(*+), -& .( ;'(7+*1 -&0 5),01<4&,5&0 - 4, =')/.32& =&4* B*'& &88&5*41& &,
*&'2&0 2),1*(+'&0 &* ,), 2),1*(+'&0 &, ='&,(,* &, 5),0+-1'(*+), .&0 =&'*&0 &,5)4'4&0 -+'&5*&0
&* +,-+'&5*&0
)40 .&0 5)6*0 &,5)4'40 ,& 0),* 5&=&,-(,* =(0 0405&=*+/.&0 - 4,& 17(.4(*+), 2),1*(+'&
+221-+(*& +,0(*+08(5*+), -4 =&'0),,&. &, &0* 4, &C&2=.& &=&,-(,* 5&0 5)6*0 ,),
2),1*(+'&0 =)4''),* 0& *'(-4+'& *'30 '(=+-&2&,* =(' -&0 171,&2&,*0 -),* .&0 5),01<4&,5&0
=)4''(+&,* 17(.41&0 0&.), <4& . ), &,7+0(;& .& =(001 )4 .& 84*4' ), =('.&'( -& 5)6*0 )4 -&
'+0<4&0

• %+91'+
+7&'0&0 5.(00+8+5(*+),0 ),* 1*1 =')=)01&0 =)4' :+1'('5:+0&' .&0 '+0<4&0
( ='&2+3'& &0* 8),-1& 04' . +2=)'*(,5& -&0 =&'*&0 17&,*4&..&0 0)+* &, 7(.&4' (/0).4&
0)+* &, =)4'5&,*(;& -4 5:+88'& - (88(+'&0 0)+* &, 8),5*+), -& .&4'0 5),01<4&,5&0 04' .&
*'10)'&'+& -& . &,*'&='+0&
( 0&5),-& -+0*+,;4& .& '+0<4& =4' -4 '+0<4& 0=154.(*+8 & '+0<4& =4' &0* *)4I)4'0
5)22& 5),01<4&,5& 4,& =&'*& -+'&5*& )4 +,-+'&5*& &,*'(E,1& =(' -&0 171,&2&,*0 =:90+<4&0
)/0&'7(/.&0 *&.0 <4& .&0 (55+-&,*0 &* .&0 -10(0*'&0 ,(*4'&.0 5),*'(+'&2&,* (4 '+0<4& 0=154.(*+8
(==&.1 1;(.&2&,* '+0<4& 2(,(;&2&,* <4+ (88&5*& -+881'&,*&0 8),5*+),0 -& . &,*'&='+0& &* =&4*
(7)+' -&0 5),01<4&,5&0 (400+ /+&, =)0+*+7&0 <4& ,1;(*+7&0
,& (4*'& 5.(00+8+5(*+), -+881'&,5+& .&0 '+0<4&0 04/I&5*+80 &* )/I&5*+80 &0 -&',+&'0
=&47&,* B*'& 17(.410 @ .( 04+*& - 4,& 01'+& +2=)'*(,*& - 171,&2&,*0 @ .(<4&..& 0 (==.+<4&'( .(
.)+ -&0 ;'(,-0 ,)2/'&0 F (55+-&,*0 - (4*)2)/+.&0 +,5&,-+&PG
(,0 5& 5(0 .& '+0<4& &0* .( 2&04'& 0*(*+0*+<4& -4 -&;'1 -& 7('+(*+), 5),0*(*1 &,*'& .(
04'7&,(,5& -&0 171,&2&,*0 '1&.0 &* .&0 171,&2&,*0 =)*&,*+&.0 "(' 5),*'& .&0 '+0<4& 04/I&5*+80
5),5&',&,* 5&4C =)4' .&0<4&.0 +. , &0* =(0 =)00+/.& -& 8(+'& 4,& &0*+2(*+), )/I&5*+7& )4 0+ . ),
,& =&4* '(+0),,&' <4& 04' 4,& 01'+& .+2+*1& - 171,&2&,*0 )4 04' 4, 0&4. - &,*'& &4C
& '+0<4& '&5)47'& (.)'0 . +,5&'*+*4-& - )554''&,5& - 4, 171,&2&,* =&'K4 =(' 4, +,-+7+-4

")4' 8)'24.&' -&0 5),5.40+),0 )/I&5*+7&0 . (4-+*&4' 0)5+(. -)+* (-)=*&' 4,&
21*:)-).);+& '+;)4'&40& <4+ +2=.+<4& . 4*+.+0(*+), - )4*+.0 &* -& *&5:,+<4&0 =)4' '&54&+..+'
. +,8)'2(*+), 0(,0 /+(+0 . (,(.90&' &, 2+,+2+0(,* .& '+0<4& - &''&4'0 &* .( ='10&,*&' -& 8(K),
&88+5(5& &0 *&5:,+<4&0 &* )4*+.0 &C=)010 -(,0 5&**& =('*+& 0),* .)+, - B*'& &C:(40*+80 )4
5)2=.&*0 +.0 ,& 0),* ='10&,*1 <4& /'+37&2&,* +. &0* '&5)22(,-1 -& 0& '&=)'*&' @ -&0 )47'(;&0
0=15+(.+010 )4 -& '&5)4'+' @ . (+-& -&0 &C=&'*0 0+ . ), 7&4* (==')8),-+' 5&0 -+881'&,*&0 <4&0*+),0
')+0 5(*1;)'+&0 -&0 *&5:,+<4&0 &* )4*+.0 @ ='10&,*&' .& '&54&+. -& . +,8)'2(*+), . (,(.90& -&0
+,8)'2(*+),0 .( ='10&,*(*+), -&0 '104.*(*0

. =&4* B*'& &88&5*41 @ . (+-& 0)+* -& 21*:)-&0 0*(*+0*+<4&0 =)'*(,* 04' -&0 +,-+5(*&4'0
<4(,*+*(*+8 0)+* -& 21*:)-&0 =095:)0)5+).);+<4&0 <4+ 5),5&',&,* .&0 &,*'&*+&,0 <4&0*+),,(+'&0
&* &,<4B*&0 - )=+,+),
15:(,*+..),,(;& =&'2&* -& 5),,(E*'& .( *)*(.+*1 -&0 5('(5*1'+0*+<4&0 - 4,& =)=4.(*+),
&, , &, 5),0+-1'(,* <4 4,& =('*+& ".40+&4'0 -+88+54.*10 =&47&,* 0& ='10&,*&' (/0&,5& -& .+0*&
&C:(40*+7& -4 =&'0),,&. 4, *4',>)7&' +2=)'*(,* )4 -&0 5),-+*+),0 5:(,;&(,* '(=+-&2&,* (,0
5&0 5(0 +. &0* ='181'(/.& -& =')51-&' @ 4, '&5&,0&2&,* 5 &0*>@>-+'& 4, &C(2&, +,*1;'(. -& *)4*&
.( =)=4.(*+),
")4' =')51-&' @ 4, 15:(,*+..),,(;& -&4C =:(0&0 0 +2=)0&,* .( 01.&5*+), -&
. 15:(,*+..), &* .( -1*&'2+,(*+), -& 0( *(+..&

• 6/'-$%#& ,' / 6-74&$%//#&


")4' 5& 8(+'& +. &0* ,15&00(+'& -& 5),,(E*'& &C(5*&2&,* .( =)=4.(*+), 5&5+ -(,0 .& /4* -&
-),,&' @ 5:(<4& 1.12&,* -& .( =)=4.(*+), 4,& 5:(,5& 1;(.& - B*'& ='10&,*1 -(,0
. 15:(,*+..),
• 6$')*%&4$%#& ,' /4 $4%//' ,' / 6-74&$%//#&
. &0* -1*&'2+,1 &, 8),5*+), -4 -&;'10 -& 5),8+(,5& &* -& ='15+0+), -10+'1
& ='&2+&' &0* .( 5),8+(,5& <4& . ), &0* &, -')+* - (7)+' -(,0 . &C(5*+*4-& -& .( '&='10&,*(*+),
-& .( =)=4.(*+), +. &0* -& T +. 9 ( T -& 5:(,5&0 <4& .&0 '104.*(*0 *+'10 -& . 15:(,*+..), ,&
-+883'&,* =(0 -&0 5('(5*1'+0*+<4&0 -& .( =)=4.(*+),
& -&;'3 -& ='15+0+), '&='10&,*& .&0 .+2+*&0 @ . +,*1'+&4' -&0<4&..&0 .&0 &0*+2(*+),0 -&0
5('(5*1'+0*+<4&0 -& .( =)=4.(*+), -)+7&,* 8+;4'&'

. 0&'( &88&5*41 @ . (+-& - +,*&'7+&U0 &* -& <4&0*+),,(+'&0 8+, -& ,& =(0 )2&**'& -&0
=)+,*0 +2=)'*(,*0 . (4-+*&4' 0& '183'& @ -&0 <4&0*+),,(+'&0 ='1>1*(/.+0 <4+ =)4''),* B*'&
5)2=.1*10 0&.), .( 0+*4(*+), (4-+*&4' =&4* 4*+.+0&' 1;(.&2&,* -&0 &,<4B*&0 - (**+*4-&0 )4
- )=+,+),0 &0 &,<4B*&0 - )=+,+),0 -),,&,* 4,& 17(.4(*+), 090*12(*+<4& -&0 =&'5&=*+),0 -4
=&'0),,&. 5),5&',(,* . 1*(* -& . )';(,+0(*+), & /4* 1*(,* - )/*&,+' 4,& 2&+..&4'&
5)2='1:&,0+), -&0 '1(5*+),0 -&0 &2=.)910 &* -& .&4'0 ='181'&,5&0 &0 (**+*4-&0 <4+ 8),*
. )/I&* - &,<4B*& '&5)47'&,* &, 8(+* 1.12&,*0 -+881'&,*0 5);,+*+8 (88&5*+8 &* 5)2=)'*&2&,*(.

$
")4' (,(.90&' .&0 +,8)'2(*+),0 '&54&+..+&0 =.40+&4'0 *&5:,+<4&0 0& ='10&,*&,* -),*

&0* 4, -)542&,* @ =('*+' -4<4&. 4,& (,(.90& -&0 *(4C - &,5(-'&2&,* )4 -&
. (-1<4(*+), -4 8.4C -& *'(7(+. (4 -15)4=(;& =(' 0&'7+5& =&4* B*'& &,*'&='+0& ( 5)2=('(+0),
-& =.40+&4'0 )';(,+;'(22&0 0455&00+80 -),,& 4, (=&'K4 -&0 (21.+)'(*+),0 8(+*& (4 ,+7&(4 -& .(
=:+.)0)=:+& -4 2(,(;&2&,*

! "
&0* .( '&='10&,*(*+), ;'(=:+<4& - 4,& =)=4.(*+), =(' (,,1& &* =(' A;&0 ..& =&4* B*'&
5)2=.1*1& =(' .( =9'(2+-& - (,5+&,,&*1 ( 8)'2& -& .( =9'(2+-& =&'2&* -& 0& '&,-'& 5)2=*&
-&0 -101<4+.+/'&0 =)00+/.&0 F ')40 +2=)'*(,*0 N ;),8.&2&,* -4 /(0 ;),8.&2&,* -4 :(4* PG
(4-+*&4' -)+* -1*&'2+,&' .&0 '&0=),0(/+.+*10 &* 5.('+8+&' .&0 ='+,5+=(4C 'D.&0
I)410 -(,0 .( 8),5*+), =&'0),,&. &* -1*&'2+,&' 4, =')8+. -&0 'D.& -)2+,(,*0 I)410 =(' .&
-1=('*&2&,* -& =&'0),,&. , 2(,<4& -& 5),*'D.& 4, -)4/.& &2=.)+ )4 4, 2(,<4& 0+;,+8+5(*+8
=&47&,* B*'& -15&.1 ;'A5& @ 5&* )4*+.

# $ %
&0* 4,& '&='10&,*(*+), ;'(=:+<4& - 4, 090*32& 5)2=.&C& @ . (+-& -& 092/).&0 5 &0*
(4*(,* 4, 2)9&, -& 5)224,+5(*+), - 4, )4*+. - (,(.90&

&
& =.40 0)47&,* -(,0 .&0 &,*'&*+&,0 .& =&'0),,&. ,& 8(+* =(0 -& -+0*+,5*+), &,*'& 5(40&0 &*
5),01<4&,5&0 &,*'& . 171,&2&,* &* .& =')/.32& .& -+(;'(22& -& "('&*) =&'2&* -& 8(+'& 5&**&
-+0*+,5*+), &* -& 2&**'& 4, )'-'& - +2=)'*(,5& -&0 -+881'&,*&0 5(40&0
('/'& -& 5(40&0 +..40*'& . &,5:(E,&2&,* -&0 5(40&0 <4+ ),* 5),5)4'4 @ . (==('+*+), -4
'104.*(*

!
&0* 4,& 5)2=('(+0), &,*'& .& 5)6* -& . (==.+5(*+), -&0 '&5)22(,-(*+),0 &* .& ;(+,
&05)2=*1

#
)4* 5)22& .& '&54&+. -& . +,8)'2(*+), &* 0), (,(.90& N .( ='10&,*(*+), -&0 '104.*(*0 &0*
'1;+& =(' 4, 5&'*(+, ,)2/'& -& '3;.&0 -),* . )/0&'7(*+), =&'2&**'( - (**&+,-'& . )/I&5*+8 -&
. (4-+*

&
7(,* *)4*& -12('5:& 04' .& *&''(+, N . (4-+*&4' =)4''( 0& 5),0*+*4&' 4, 8),-0 -&
-)542&,*(*+), ;1,1'(.& (==&.1 -)00+&' =&'2(,&,* F:+0*)'+<4& -& . &,*'&='+0& 0&0 (5*+7+*10 0(
*&5:,).);+& 0( 0*'45*4'& PG ")4' (**&+,-'& 4, 2(C+242 - &88+5(5+*1 .&0 +,8)'2(*+),0
'&54&+..+&0 04' .& *&''(+, 0&'),* ='10&,*1&0 -(,0 -&0 -)542&,*0 -& *'(7(+. .0 0),* 1*(/.+0 (4 84'
&* @ 2&04'& -& . (7(,5&2&,* -& . (4-+* &0 -)542&,*0 =&'2&**'),* 4,& 17(.4(*+), -& . (4-+*
.4+>2B2& +,0+ .&0 -)542&,*0 -& *'(7(+. -)+7&,* '&0=&5*&' -+881'&,*&0 5),-+*+),0 -& 5.('*1
.+0+/+.+*1 0*(,-('-+0(*+), =&'*+,&,5& &* 5),5+0+),

&
)4*& 2+00+), -),,& .+&4 @ .( '1-(5*+), - 4, '(==)'* -& 09,*:30& <4+ &0*
'&2+0 @ .( -+'&5*+), )4 (4 -&2(,-&4' -& . (4-+*
4 8(+* -&0 )/I&5*+80 (00+;,10 @ *&. '(==)'* F5)224,+<4&' 4, 5),0*(* (**+'&' . (**&,*+),
-& .( -+'&5*+), 04' 5&'*(+,0 =)+,*0 =')=)0&' -&0 '&5)22(,-(*+),0 '1(.+0*&0 &* )/I&5*+7&0G N
5&.4+>5+ -)+* '&0=&5*&' .&0 '3;.&0 1.12&,*(+'&0 -& 5)224,+5(*+), &, 4*+.+0(,* 4, .(,;(;&
(55&00+/.& (4C .&5*&4'0 5),5&',10 5& <4+ +2=.+<4& <4& . (4-+*&4' 5)2='&,,& 5& <4 +.0
=&'K)+7&,* (**&,-&,* &* ),* /&0)+, -& 0(7)+'

! "
%

& /4* -4 ='1>-+(;,)0*+5 &0* -& -),,&' @ . (4-+*&4' 4,& 74& - &,0&2/.& -&0 ='+,5+=(4C
=')/.32&0 &* -&0 '+0<4&0 -& .( 8),5*+), =&'0),,&. -& . &,*'&='+0& )4 -& . 1*(/.+00&2&,* (4-+*1
;'A5& @ 4,& &,<4B*& 21*:)-+<4& &* '+;)4'&40& =)'*(,* 04' .&0 ='+,5+=(.&0 5('(5*1'+0*+<4&0 -&
. &,*'&='+0& &* -& 0), &,7+'),,&2&,*

& ='1>-+(;,)0*+5 &, 2(*+3'& 0)5+(.& 5)''&0=),- @ . &,<4B*& ='1.+2+,(+'& <4+ &0* '1(.+01&
,)'2(.&2&,* -(,0 *)4* (4-+* ;1,1'(. 5 &0* @ -+'& =)'*(,* 04' . &,0&2/.& -&0 8),5*+),0
(/0&,5& -& ='1>-+(;,)0*+5 )4 &,5)'& .& *&2=0 *')= /'&8 <4+ 9 &0* 5),0(5'1 =&4*
&,*'(E,&' . (4-+*&4' )4 .& -+'&5*&4' -4 =&'0),,&. <4+ -15+-& -& 2&,&' .4+ 2B2& 4, *&. &C(2&,
-(,0 -& 8(400&0 -+'&5*+),0 &* '&,-'& 8+,(.&2&,* +,4*+.&0 *)40 .&0 &88)'*0 &,*'&='+0 &, (/)4*+00(,*
@ -&0 5),5.40+),0 @ -&0 5),5.40+),0 &''),1&0 <4+ 0&'),* 8+,(.&2&,* /&(45)4= =.40
-)22(;&(/.&0 <4 4*+.&0 =(' .&0 '&5)22(,-(*+),0 <4 &..&0 =&47&,* &,*'(E,&'
& ='1>-+(;,)0*+5 5)2=)'*& 4,& 01'+& - 1*(=&0 <4+ 5)''&0=),-&,* '&0=&5*+7&2&,* @ .(
-18+,+*+), -& .( 2+00+), (4 '&54&+. - +,8)'2(*+),0 @ . (,(.90& -& 5&0 -&',+3'&0 (/)4*+00(,* @ 4,
-+(;,)0*+5 :+1'('5:+01 -&0 =')/.32&0 &* -&0 '+0<4&0 &* -(,0 4,& (4*'& 1*(=& @ 5&.4+ -&0 5(40&0
( 8)'24.(*+), -& '&5)22(,-(*+),0 &0* .( =:(0& 8+,(.& -4 =')5&0040 -& ='1>-+(;,)0*+5 <4+
=&4* B*'& .& =)+,* -& -1=('* - (4-+*0 =.40 5&,*'10 04' -&0 8),5*+),0 )4 -&0 =)+,*0 =('*+54.+&'0
• 6(%&%$%#& ,' /4 *%++%#& .& /4* -& 5&**& ='&2+3'& 1*(=& &0* -& 8(+'& &, 0)'*&
<4& .( -+'&5*+), 0& 0&,*& -&2(,-&4' -& . (4-+* (8+, <4& 0), 04==)'* 0)+* (5<4+0 @
. (4-+*&4' &* 5)224,+<41 (4C (4-+*10
4 5)4'0 -& 5&**& 1*(=& +. &0* +2=)'*(,* -& -18+,+' ,), 0&4.&2&,* .&0 )/I&5*+80 -& .(
2+00+), .( 21*:)-).);+& 4*+.+01& .( -4'1& &* .& 5)6* -& .( 2+00+), 2(+0 (400+ -&
='15+0&' <4&..&0 =&'0),,&0 9 0&'),* +2=.+<41&0 &* -(,0 .& '&54&+. - +,8)'2(*+),0 &* -(,0
.( -+05400+), -4 '(==)'* 8+,(. - (4-+*
( -4'1& -4 ='1>-+(;,)0*+5 &0* *'30 7('+(/.& 0&.), .( *(+..& - &,*'&='+0& &* . 1*(*
- )';(,+0(*+), -& - )';(,+0(*+), -& . +,8)'2(*+), -+0=),+/.& 04' .& =&'0),,&.
1*(=& -& .( -18+,+*+), -& .( 2+00+), -)+* ='+,5+=(.&2&,* 0& 5.D*4'&' =(' .( '1-(5*+),
- 4,& .&**'& -& 2+00+), 0+;,1& =(' .& -+'&5*+), ='15+0(,* .&0 2)-(.+*10 -& .( 2+00+), &* .&0
=)00+/+.+*10 - (5530 @ . +,8)'2(*+), &**& .&**'& &0* &,7)91& 0488+0(22&,* -& *&2=0 @ . (7(,5&
(4 -+'&5*&4' -4 =&'0),,&. )4 (4 -+'&5*&4' -& . 1*(/.+00&2&,* =)4' <4 +.0 8(00&,* =('* -& .&4'0
)/I&5*+),0
• ' )'-1'%/ ,' / %&(#)*4$%#& (8+, -& '1(.+0&' .& ='1>-+(;,)0*+5 -& .( 2(,+3'& .( =.40
&88+5+&,*& N . (4-+*&4' '&54&+..& . +,8)'2(*+), @ =('*+' -& *')+0 0)4'5&0 N . +,8)'2(*+),
15'+*& .( 7+0+*& -& . &,*'&='+0& &* .&0 &,*'&*+&,0 (7&5 .&0 ='+,5+=(4C '&0=),0(/.&0
+,8)'2(*+), 15'+*& &0* &C*'(+*& -& -+881'&,*0 -)542&,*0 &C+;10 =(' .( .)+ &* 5)2=.1*1&
=(' - (4*'&0 -)542&,*0 5)22& .&0 =')530>7&'/(4C -&0 '14,+),0 .&0 )';(,+;'(22&0 .&0
(55)'-0 - &,*'&='+0& &* .&0 5),7&,*+),0 5)..&5*+7&0P
( 7+0+*& - 1*(/.+00&2&,* =&'2&* @ . (4-+*&4' . )/0&'7(*+), =:90+<4& -&0 .+&4C -& *'(7(+.
2(+0 (400+ -&0 -+881'&,*0 .)5(4C -& . &,*'&='+0& 4'(,* .( 7+0+*& . (4-+*&4' =)4''( 1;(.&2&,*
=)0&' 4, 5&'*(+, ,)2/'& -& <4&0*+),0 5),5&',(,* .&0 =')51-4'&0 -& 5),*'D.& .&0 =')/.32&0 -&
0154'+*1 . (/0&,*1+02& &* =)4''( 1;(.&2&,* &88&5*41 4, &C(2&, -&0 8+5:+&'0 &* -&0 -)00+&'0 &,
0& /(0(,* 04' -&0 21*:)-&0 - 15:(,*+..),,(;& =)4' 71'+8+&' .( 5),8+-&,*+(.+*1 -&0 +,8)'2(*+),0
,8+, .& 045530 -& .( 2+00+), - (4-+* -1=&,- -& .( 5(=(5+*1 - 15)4*& &* -& . (=*+*4-& -&
5)224,+<4&' -& . (4-+*&4' ( <4(.+*1 -&0 '&.(*+),0 &,*'& . (4-+*&4' &* . +,*&'7+&U1 &0* .(
5),-+*+), - )/*&,*+), - +,8)'2(*+),0 =&'*+,&,*&0 &* (400+ .( ;('(,*+& -& .( 2+0& &, O47'&
&88+5(5& &* '(=+-& -&0 '&5)22(,-(*+),0 =')=)01&0 ")4' 5& 8(+'& 4, 5&'*(+, ,)2/'& -&
5),-+*+),0 -)+7&,* B*'& '&2=.+&0 (4 ='&2+&' '(,; -&0<4&..&0 8+;4'& .( 5.('+8+5(*+), -&0 )/I&5*+80
-& . (4-+* &* -& .( 21*:)-).);+& <4+ 0&'( 4*+.+01& -(,0 .& ='1>-+(;,)0*+5 (,0 5&'*(+,0 5(0 +. &0*
'&5)22(,-1 - &,7)9&' (4C 84*4'0 (4-+*10 -&0 +,8)'2(*+),0 04' .& =')5&0040 .( 21*:)-).);+&
&* .&0 )/I&5*+80 -& . (4-+* &* 17&,*4&..&2&,* 4, <4&0*+),,(+'& <4+ =&'2&**'( @ . (4-+*1 -&
='1=('&' . &,*'&*+&, <4 +. (4'( (7&5 . (4-+*&4'
& $ #

'

(,(.90& =)'*&'( 04' ,), 0&4.&2&,* 04' .&0 15('*0 5),0*(*10 =&,-(,* .&0 *')+0 -&',+3'&0
(,,1&0 -&0 +,-+5(*&4'0 5),0+-1'10 5)22& 0+;,+8+5(*+80 2(+0 1;(.&2&,* 04' .&0 -+881'&,5&0
5),0*(*1&0 &,*'& .( 7(.&4' -& 5&0 +,-+5(*&4'0 &* .&0 ,)'2&0 +,*&',&0 )4 &C*&',&0
")4' (,(.90&' 5&0 15('*0 . (4-+*&4' -)+* '1=),-'& @ *)4*& 4,& 01'+& -& <4&0*+),0 =)'*(,*
04' .&4' &C+0*&,5& .&4' '&='10&,*(*+), &* .&4' +2=)'*(,5&
• #>(>*>+. 15('* =(' '(==)'* @ .( .)+ .( 5),7&,*+), 5)..&5*+7& &* @ . (55)'- - &,*'&='+0& L
• #>(>*>+. 15('* =(' '(==)'* (4C )/I&5*+80 ='1(.(/.&2&,* -18+,+0 L
• #>(>*>+. 15('* =(' '(==)'* @ 4,& ,)'2& L
• &0 15('*0 +,-+<4&,*>+.0 4, 2(,<4& -& 5),*'D.& L
• &0 15('*0 0),*>+.0 0+;,+8+5(*+80 L
• 4(,- 0& 0),*>+.0 =')-4+*0 L
• 4&.0 0),* .&0 5),01<4&,5&0 -& 5&0 15('*0 &, *&'2& -& 5)6*0 L
• 4&.0 0),* .&0 5),01<4&,5&0 -& 5&0 15('*0 &, *&'2& -& '+0<4&0 L
• &0 15('*0 ),*>+.0 &2=B5:1 . )';(,+0(*+), - (**&+,-'& 0&0 )/I&5*+80 L
• + (454,& (5*+), 5)''&5*+7& , &0* (==)'*1& 5&0 15('*0 0& '&=')-4+'),* +.0 L
(4-+*&4' 8&'( .( .+0*& -& *)40 .&0 15('*0 I4;10 0+;,+8+5(*+80 5),5&',(,* -&0 +,-+5(*&4'0
- 171,&2&,*0 0 1*(,* =')-4+*0 -(,0 5:(54, -&0 ='+,5+=(4C -)2(+,&0 -& .( 8),5*+), =&'0),,&.
, 2B2& *&2=0 0&'),* '&.&710 .&0 +,5+-&,*0 &* .&0 (,)2(.+&0 0)+* 5),0*(*10 .)'0 -&0 7+0+*&0 0)+*
(==)'*10 (4 5)4'0 -&0 &,*'&*+&,0 -(,0 5& -&',+&' 5(0 +. 8(4* =')47&' 5&0 )=+,+),0 =(' -&0 8(+*0
&5+ 5),0*+*4& 4,& ='&2+3'& 01'+& -& 5.+;,)*(,*0 <4+ 0),* (4*(,* - +,-+5(*&4'0 -& =')/.32&0
=)47(,* (7)+' -&0 5),01<4&,5&0 ,1;(*+7&0 =)4' .& /), 8),5*+),,&2&,* -& . &,*'&='+0&
( 2+0& &, 17+-&,5& -&0 =')/.32&0 +2=.+<4& - &, -'&00&' 4,& .+0*& (7&5 =)4' 5:(54,
- &,*'& &4C .&0 7(.&4'0 -&0 +,-+5(*&4'0 <4+ =&'2&**&,* - &, ='15+0&' . &C+0*&,5& (4-+*&4' -)+*
&,04+*& &00(9&' -& -1*&'2+,&' .&0 5),01<4&,5&0 -& 5:(54, - &,*'& &4C
&=&,-(,* .&0 =')/.32&0 +-&,*+8+10 -(,0 .( 8),5*+), =&'0),,&. =&47&,* B*'& (2=.+8+10
=(' 5&4C .+10 @ . &,7+'),,&2&,* +,*&',& 5 &0* @ -+'& .&0 5('(5*1'+0*+<4&0 -& . &,*'&='+0&
5),5&',1& &* =(' .&0 2&,(5&0 -15&.1&0 -(,0 .&0 -+881'&,*0 &,7+'),,&2&,*0 &C*&',&0 (4C<4&.0
. &,*'&='+0& -&7'( 0 (-(=*&'
!

• '&:%)#&&'*'&$ ';$')&'
(,(.90& -& . &,7+'),,&2&,* &C*&',& ,& =&4* B*'& 5),-4+*& - 4,& 2(,+3'& ;.)/(.& +.
&0* ,15&00(+'& -& .& 04/-+7+0&' &, 0&;2&,*0 =&'*+,&,*0 5)22& =(' &C&2=.& . &,7+'),,&2&,*
0)5+(. 15),)2+<4& .1;(. 09,-+5(. .& 2('5:1 -4 *'(7(+. &* . &,7+'),,&2&,* 0)5+)54.*4'&. <4+
+,8.4&,5&,* -+'&5*&2&,* )4 +,-+'&5*&2&,* .( ;&0*+), -4 =&'0),,&. :(<4& 0&;2&,* -)+* B*'&
17(.41 @ . (+-& - +,-+5(*&4'0 2&04'(,* -+881'&,*&0 -+2&,0+),0 <4+ 0),* .( 5)2=.&C+*1 . :)0*+.+*1
.( 0*(/+.+*1 &* . +,5&'*+*4-& ( 5)2/+,(+0), -& 5&0 -+881'&,*&0 -+2&,0+),0 =&'2&**'( - (=='15+&'
.& '+0<4&
( 5)2=.&C+*1 0& 2&04'& =(' .& ,)2/'& &* .( 7('+1*1 -&0 1.12&,*0 <4& . &,*'&='+0& -)+*
='&,-'& &, 5)2=*& =(' &C&2=.& .& ,)2/'& -&0 -+881'&,*0 2('5:10 -4 *'(7(+. .&0 -+881'&,*0
09,-+5(*0P
+,0*(/+.+*1 0+;,+8+& .& *(4C -& 5:(,;&2&,* -(,0 . &,7+'),,&2&,* &* 0&0 5),01<4&,5&0
5)22& .&0 7('+(*+),0 -& .( *&5:,).);+& &,*'(E,(,* -&0 5:(,;&2&,*0 -& <4(.+8+5(*+),0 -&
=')51-4'&0 -& 5(.54.0 -& =(+&0 -& ='+2&0 7&'01&0 -& *'(,0=)'*0P
,8+, . :)0*+.+*1 =&4* B*'& -18+,+& 5)22& .& -&;'1 0&.), .&<4&. .&0 8(5*&4'0 -&
. &,7+'),,&2&,* 5),0*+*4&,* 4,& 2&,(5& =)4' . (**&+,*& -&0 )/I&5*+80 -&0 &,*'&='+0&0

• '&:%)#&&'*'&$ %&$')&'
&0 -+7&'0&0 5('(5*1'+0*+<4&0 -& . &,*'&='+0& 5),0*+*4&,* -1I@ -&0 '1=),0&0 (4C ='&00+),0
-& . &,7+'),,&2&,* N 2(+0 &..& 5)2=)'*&,* 1;(.&2&,* &, &..&0 2B2& -&0 0)4'5&0 -& '+0<4&0
0)5+(4C )40 , &,7+0(;&),0 +5+ <4& 5&..&0 -&0 5('(5*1'+0*+<4&0 <4+ 0&2/.&,* (7)+' 4,&
+,8.4&,5& -+'&5*& 04' .( 8),5*+), =&'0),,&. N .&0 5('(5*1'+0*+<4&0 15),)2+<4&0 .( *(+..& -&
. &,*'&='+0& .( *&5:,).);+& &* .( 0*'45*4'&
&0 5('(5*1'+0*+<4&0 15),)2+<4&0 N '&,*(/+.+*1>*9=& &* A;& -&0 =')-4+*0> =)47)+' 04' .&0
8)4',+00&4'0 =)00+/+.+*1 -& '&5)4'+' @ .( 0)40>*'(+*(,5& N ),* =4 B*'& (00)5+10 @ -&0 '+0<4&0
5)22& .&0 5),8.+*0 &* . +,0(*+08(5*+), -4 =&'0),,&. 04+*& @ 4,& '1-45*+), -& . (5*+7+*1 =('
&C&2=.&
( *(+..& -& . &,*'&='+0& 17(.41& =(' .& ,)2/'& -& =&'0),,&. &2=.)91 2(+0 (400+ 5&..&
-& . 1*(/.+00&2&,* 7)+'& -&0 0&'7+5&0 <4+ .& 5)2=)0&,* &0* 4, 8(5*&4' 0)47&,* .+1 @
. +,0(*+08(5*+), &* (4C 5),8.+*0 , ,)*&'( <4& .&0 5),8.+*0 15.(*&,* .& =.40 0)47&,* -(,0 .&0
;'(,-&0 0*'45*4'&0 &* <4& .& *(4C -& =('*+5+=(*+), (4C ;'37&0 -+2+,4& (7&5 .( *(+..&
1*(* -& .( *&5:,).);+& 0&'( &C(2+,1 @ =('*+' - +,8)'2(*+),0 5),5&',(,* . A;&
-&0 2(5:+,&0 -&0 /A*+2&,*0 &* .& ,+7&(4 ;1,1'(. -& *&5:,).);+& <4+ 0&'( 5)2=('1 (7&5 5&.4+
-&0 &,*'&='+0&0 =&'8)'2(,*&0 -(,0 .& 0&5*&4'
( 0*'45*4'& -& . &,*'&='+0& 0&'( 1;(.&2&,* (,(.901& &, 5),0+-1'(,* .&0 -+881'&,*0
090*32&0 -& -15+0+), -& 5)224,+5(*+), &* -& 5),*'D.& (4-+*&4' 0& =&,5:&'( (+,0+ =.40
=('*+54.+3'&2&,* 04' .&0 2)-+8+5(*+),0 -&0 )';(,+;'(22&0 (4 5)4'0 -4 *&2=0 &* +,*&'');&'( .&0
'&0=),0(/.&0 04' .&0 '(+0),0 -&0 5:(,;&2&,*0 <4+ ),* 1*1 (==)'*10

%
& -+(;,)0*+5 -&0 -)2(+,&0 - )'+;+,& -&0 =')/.32&0 &0* 1*(/.+* &, 0& '(==)'*(,* (4C
8(+*0 &* (4C )=+,+),0 '&54&+..+0 .)'0 -&0 &,*'&*+&,0 2&,10 (7&5 .&0 ='+,5+=(4C '&0=),0(/.&0
&0 '&5)22(,-(*+),0 -15)4.&,* .);+<4&2&,* -&0 5(40&0 -+(;,)0*+<41&0 *)4*&8)+0
5&'*(+,&0 '&5)22(,-(*+),0 =&47&,* B*'& (==.+<41&0 +221-+(*&2&,* - (4*'&0 5),-4+'),* @ -&0
&,<4B*&0 5)2=.12&,*(+'&0 )4 @ -&0 (4-+*0 =.40 =)40010 -(,0 .&0 -)2(+,&0 <4+ 0&2/.&,* .&0
=.40 =)'*&4'0 -& '+0<4&0 0)5+(4C =)4' . &,*'&='+0&
"('2+ .&0 '&5)22(,-(*+),0 +221-+(*&0 8+;4'&,* 5&..&0 (9(,* *'(+* @ .( ,), 5),8)'2+*1
.1;(.& =(' 5),*'& - (4*'&0 '&5)22(,-(*+),0 =&47&,* =)'*&' 04' .( 2+0& &, =.(5& -& ,)47&..&0
=')51-4'&0 =.40 (-1<4(*&0
,8+, - (4*'&0 '&5)22(,-(*+),0 (4'),* *'(+* @ -&0 &,<4B*&0 5)2=.12&,*(+'&0 5)22&
=(' &C&2=.& . (/0&,*1+02& )4 -&0 (4-+*0 -& 8),5*+), N '&5'4*&2&,* 8)'2(*+), .&0 0(.(+'&0P
+,0+ 0& 71'+8+& . )=+,+), 0&.), .(<4&..& *)4* /), ='1>-+(;,)0*+5 0& *&'2+,& .& =.40
0)47&,* =(' -&0 <4&0*+),0
#" $

' &
(4-+* -& . (/0&,*1+02& =&4* B*'& &,*(21 @ .( 04+*& -& '&5)22(,-(*+),0 -4 ='1
-+(;,)0*+5 '&=)0(,* 04' .& 5),0*(* -& 7(.&4'0 1.&71&0 &* 5')+00(,*&0 -4 *(4C - (/0&,*1+02&
. =&4* B*'& '1(.+01 @ .( 04+*& - 4,& -&2(,-& -+'&5*& -& .( -+'&5*+), <4+ ( ='+0
5),05+&,5& -& -908),5*+),,&2&,*0 &* 5:&'5:& @ (21.+)'&' 0( 5),,(+00(,5& -& .( 0+*4(*+), =)4'
2+&4C '10)4-'& .&0 =')/.32&0
")4' 0& 8(+'& +. &0* ,15&00(+'& -& 5&',&' .( ,)*+), - (/0&,*1+02& &* - (/)'-&' .&0
-+881'&,*&0 21*:)-&0 - (,(.90& <4+ =&'2&**&,* -& -18+,+' .& =:1,)23,& -& . (/0&,*1+02&
. &0* 1;(.&2&,* ,15&00(+'& -& 0& '181'&' @ -&0 2)-3.&0 &C=.+5(*+80 -&0 =:1,)23,&0 =)4'
-+(;,)0*+<4&' .&0 5(40&0 N 5 &0* 5& -+(;,)0*+5 <4+ =&'2&**'( - (/)4*+' @ -&0 '&5)22(,-(*+),0

) * (
(/0&,*1+02& &0* 4, =:1,)23,& 24.*+8)'2& -18+,+ 5)22& .( ,),>='10&,5& (4 =)0*&
-& *'(7(+. =)4' 4, =&'0),,&. 8+;4'(,* @ . &88&5*+8 +,05'+*
, -+0*+,;4& ;1,1'(.&2&,* . (/0&,*1+02& 04' .&<4&. (454,& +,*&'7&,*+), -& .( -+'&5*+),
,& =&4* B*'& &C&'51 =)4' .& -+2+,4&' -& . (/0&,*1+02& 5)2='&00+/.&
(,0 .( ='&2+3'& 5(*1;)'+& '&,*'&,* .&0 -+7&'0 5),;10 =(910 .&0 5),;10 5),7&,*+),,&.0
.&0 5),;10 - (,5+&,,&*1 .&0 5),;10 04==.12&,*(+'&0 .+10 @ -&0 171,&2&,*0 8(2+.+(4C .&0
5),;10 -& 8)'2(*+), =(910 )4 ,), .&0 (/0&,5&0 =)4' .&0 '&=)0 5)2=&,0(*&4'0 .&0 :&4'&0 -&
-1.1;(*+), .&0 (/0&,5&0 (4*)'+01&0 =(' .( :+1'('5:+& =)4' 8(+'& 8(5& @ 4,& )/.+;(*+),
(/0&,*1+02& 5)2='&00+/.& 5)2='&,- . .&0 (/0&,5&0 =)4' 2(.(-+& (7&5 5&'*+8+5(* .&0
(55+-&,*0 -& *'(7(+. &* -& *'(I&* &* .&0 (/0&,5&0 -+7&'0&0 0(,0 2)*+8 ,), (4*)'+01&0 5),;10
0(,0 0).-& -& 5)4'*& -4'1& (/0&,5& =)4' 5),7&,(,5& =&'0),,&..& 5),;1 =)4' 0)+;,&' 4, &,8(,*
2(.(-& &4.&0 5&0 (/0&,5&0 -&7'(+&,* '&*&,+' . (**&,*+), -& . (4-+*&4' =)4' 4,& (,(.90&
-1*(+..1& &* =('*+54.+3'&2&,* 5&..&0 .+1&0 @ .( 2(.(-+& &* (4C (55+-&,*0 -4 *'(7(+. &* -4 *'(I&*

+' *
10 ? % (7(+* '1400+ @ -1,)2/'&' 2&04'&0 -+881'&,*&0 -&
. (/0&,*1+02& 8'1<4&,5&0 )4 ,)2/'&0 - (/0&,5&0 ,)2/'& *)*(. -& I)4',1&0 - (/0&,5& N
,)2/'& - (/0&,5& - 4,& I)4',1& (4 2)+,0 ,)2/'& - (/0&,5&0 =)4' '(+0), 21-+5(.& I)4',1&0
&,'&;+0*'(,* .& =.40 - (/0&,5&0 =)4' 5:(<4& 0&2(+,& &*5P
& *(4C -& ;'(7+*1 &0* '&='10&,*1 =(' .& '(==)'* &,*'& .( -4'1& -&0 (/0&,5&0 F17(.41& 0)+*
&, I)4'0 5)22& =)4' . +,-+5(*&4' -4 /+.(, 0)5+(. 0)+* &, :&4'*&0G &* 5&..& -4 *'(7(+. '1&..&2&,*
&88&5*41 @ .(<4&..& ), '(I)4*& .( -4'1& -&0 (/0&,5&0
& '(*+)
)2/'& - :&4'&0 F)4 I)4'0G - (/0&,5&
V !!
)2/'& - :&4'&0 F)4 I)4'0G *:1)'+<4&0 *'(7(+..10

4+ '&='10&,*& 0&4.&2&,* 4, '(==)'* &,*'& .& *&2=0 - (/0&,5& &* .& *&2=0 -& *'(7(+.
& *(4C -& ;'(7+*1 +,-+<4& .& =)4'5&,*(;& -&0 :&4'&0 F)4 I)4'0G -+0=),+/.&0 =&'-4&0 -4
8(+* -& . (/0&,5&
( ;'(7+*1 2)9&,,& )4 ,)2/'& - :&4'&0 )4 -& I)4'0 - (/0&,5& =(' 0(.('+1 -1'+7& -&
. +,-+5& -& ;'(7+*1 +. &0* 5(.54.1 &, '(==)'*(,* .( -4'1& *)*(.& -&0 (/0&,5&0 @ . &88&5*+8 2)9&,
(,,4&. &* 5)''&0=),- @ . +,-+5(*&4' -4 /+.(, 0)5+(.
4'1& *)*(.& -&0 (/0&,5&0

88&5*+8 2)9&, (,,4&.

( -4'1& 2)9&,,& -& . (/0&,5& &0* 4, (4*'& '(*+) -1'+71 -4 *(4C -& ;'(7+*1 )/*&,4 &,
-+7+0(,* .( -4'1& *)*(.& -&0 (/0&,5&0 =(' .& ,)2/'& - (/0&,5&0
)2/'& *)*(. - :&4'&0 F -& I)4'0G - (/0&,5&

)2/'& - (/0&,5&0
&* +,-+5(*&4' ( 4,& 7(.&4' -& 5.+;,)*(,* 2(+0 -)+* B*'& 4*+.+01 (7&5 ='4-&,5& 5(' +. ,&
=&'2&* =(0 - )/0&'7&' .( '1=('*+*+), -&0 (/0&,*0
, (4*'& +,-+5(*&4' .( 8'1<4&,5& 2)9&,,& =&4* B*'& 5(.54.1 &, -+7+0(,* .& ,)2/'&
- (/0&,5&0 =(' . &88&5*+8 2)9&, (,,4&.
)2/'& - (/0&,5&0

88&5*+8 2)9&, (,,4&.


& '(*+) +,-+<4& 0+2=.&2&,* .& ,)2/'& - (/0&,5&0 =(' 0(.('+1
(4*'&0 '(*+)0 =&47&,* B*'& 5(.54.10 @ =('*+' -&0 2)*+80 - (/0&,5&0 )4 -&0 5(*1;)'+&0
=')8&00+),,&..&0 )4 &, 5)2/+,(,* .&0 -&4C
& 5:)+C -&0 +,-+5(*&4'0 @ '&*&,+' 0&'( 8),5*+), -&0 )/I&5*+80 7+010 &.( =)0& .( <4&0*+),
-& .( 7(.+-+*1 -& 5&0 +,-+5(*&4'0
& 04'5')E* -&0 21*:)-).);+&0 -+881'&,*&0 ),* 0)47&,* 1*1 (-)=*1&0 =(' .&0 -+7&'0
(4*&4'0 5& <4+ '&,- =')/.12(*+<4&0 .&4'0 5),5.40+),0 &=&,-(,* +. ( 1*1 -12),*'1
0*(*+0*+<4&2&,* <4& .( 8'1<4&,5& 1*(+* /&(45)4= =.40 0+;,+8+5(*+7& <4& .( -4'1& 5)22& /(0& -&
5(.54. -& . (/0&,*1+02&
&.), .&0 )/I&5*+80 .&0 +,-+5(*&4'0 5:)+0+0 0&'),* -+881'&,*0 "(' &C&2=.& 0 +. 0 (;+*
- 17(.4&' .( '124,1'(*+), -&0 (/0&,5&0 +. 5),7+&,-'( - &, ='15+0&' .( -4'1& &* .&0 2)*+80 =('
+,-+7+-4
+ . ), 7&4* '10)4-'& .&0 =')/.32&0 &* -),5 +-&,*+8+&' .&0 5(40&0 -&0 (/0&,5&0 +.
+2=)'*& -& 5),,(E*'& .( 8'1<4&,5& &* .( -4'1& -&0 (/0&,5&0 =(' 0&'7+5& =(' 5(*1;)'+&
=')8&00+),,&..& &* =(' +,-+7+-40

,' *

&0 5)6*0 -& . (/0&,*1+02& ,& 0& /)',&,* =(0 0&4.&2&,* @ .( '124,1'(*+), -&0 (/0&,*0
=(91& =(' . &,*'&='+0& 2(+0 5)2='&,,&,* - (4*'&0 1.12&,*0 *&.0 <4& .&0 :&4'&0
04==.12&,*(+'&0 &88&5*41&0 =)4' '&2=.(5&' . (/0&,* . &2/(45:& -& =&'0),,&. 04==.12&,*(+'&
.&0 17&,*4&..&0 -+2+,4*+),0 -& =')-45*+), .&0 -+2+,4*+),0 -& .( <4(.+*1 . (55')+00&2&,* -& .(
8'1<4&,5& -& . &,*'&*+&, .&0 8'(+0 -& 0*'45*4'& . (2)'*+00&2&,*
&0 5)6*0 -& . (/0&,*1+02& =&47&,* B*'& 04/-+7+010 &, 5)6*0 -+'&5*0 &* 5)6*0 +,-+'&5*0
&0 5)6*0 -+'&5*0 0&.), " # =&47&,* B*'& '1=('*+0 &, -&4C 5(*1;)'+&0 =')=)'*+),,&.0 &*
,), =')=)'*+),,&.0 -(,0 .( ='&2+3'& 5(*1;)'+& &,*'&,*
• &0 0(.(+'&0 &* 5:(';&0 0)5+(.&0 '1&..&2&,* 04==)'*10 =(' . &,*'&='+0& <4(,- &..&
'124,3'& .&0 (/0&,*0 &, *)*(.+*1 )4 &, =('*+& N
• & 5)6* -& ,), =')-45*+), 5)''&0=),-(,* (4C 5:(';&0 -& 0*'45*4'&0 ,), 5)47&'*&0 -4
8(+* -& . (/0&,*1+02& N
• &0 8'(+0 &,;(;10 =)4' =(..+&' . (/0&,*1+02& 0)40 8)'2& - :&4'&0 04==.12&,*(+'&0
- &2/(45:& -& *'(7(+..&4'0 +,*1'+2(+'&0 )4 -& 0)40>*'(+*(,5& N
• &0 5)6*0 -+'&5*0 ,), =')=)'*+),,&.0 5),5&',&,* .&0 5)6*0 - )';(,+0(*+), 5 &0*
@ -+'& .& *&2=0 =(001 =(' . &,5(-'&2&,* =)4' '10)4-'& .& =')/.32& =)01 =('
. (/0&,*1+02& .& *&2=0 =(001 =)4' *')47&' 4, '&2=.(K(,* &* .& 2&**'& (4 5)4'(,* (+,0+
<4& .&0 5)6*0 -& ;&0*+), +,5.4(,* .( *&,4& -& -)00+&' &* .&0 )=1'(*+),0 (-2+,+0*'(*+7&0
• &0 5)6*0 +,-+'&5*0 +,5.4&,* .( -+2+,4*+), -& .( =')-45*+7+*1 )4 -(,0 .& 5(0 - 4,
'&2=.(5&2&,* . 15('* &,*'& .& '&,-&2&,* -& . (/0&,* &* 5&.4+ -4 '&2=.(K(,* N .(
-+2+,4*+), -& .( <4(.+*1 -&0 =')-4+*0 . (55')+00&2&,* -4 *(4C -& '&/4*0
. (55')+00&2&,* -&0 '&*('-0 -& .+7'(+0), =)47(,* &,*'(E,&' .( =&'*& -& 5)22(,-& &* .(
-1;'(-(*+), -& . +2(;& -& 2('<4& -& . &,*'&='+0& N . (4;2&,*(*+), -& .( 8'1<4&,5& -&
. &,*'&*+&,

")4' 2+&4C 8(+'& '&00)'*+' . +2=)'*(,5& -& . (/0&,*1+02& ), =&4* (7)+' +,*1'B* @ '&5)4'+'
@ 4, '(*+) 5)2='&,(,* .& 5)6* *)*(. -& . (/0&,*1+02& @ .( 2(00& -&0 0(.(+'&0
. &0* 1;(.&2&,* =)00+/.& -& 5(.54.&' .& 5)6* -& T - (/0&,*1+02& @ =('*+' -4 '(*+)
04+7(,*

)6* -& . (/0&,*1+02&R (00& 0(.('+(.&

(4C -& . (/0&,*1+02&

& *(4C -& . (/0&,*1+02& &0* 5(.54.1 +5+ &, '(==)'*(,* .& ,)2/'& - :&4'&0 - (/0&,*1+02&
(4 ,)2/'& - :&4'&0 *:1)'+<4&2&,* *'(7(+..1&0 .4+>2B2& )/*&,4 &, 24.*+=.+(,* . &88&5*+8 +,05'+*
=(' .& ,)2/'& -& I)4',1&0 )4 - :&4'&0 )47'1&0 -4 2)+0 )4 -& . (,,1&
&0 '104.*(*0 -& -+7&'0 (4-+*0 0)5+(4C ),* 2),*'1 <4& T - (/0&,*1+02& 1<4+7(.(+*
0&.), .&0 &,*'&='+0&0 @ 4, =)4'5&,*(;& -& .( 2(00& 0(.('+(.& 5)2='+0 &,*'& ! &* ! ?T

-' *

4*+.+0(*+), - +,-+5(*&4'0 &* .& 5(.54. -&0 5)6*0 , ),* -& 0&,0 <4& 0+ ( 1*1 (=='15+1& .(
8+(/+.+*1 -&0 +,8)'2(*+),0 '&54&+..+&0
+,0+ -(,0 4,& &,*'&='+0& (7(+*>), ='+0 . :(/+*4-& -& 5)2=*&' =)4' .&0 ,)47&(4C
&'
&2/(45:10 .( =1'+)-& 0 15)4.(,* &,*'& .& (,7+&' &* .( -(*& -& . &2/(45:& 5)22& *&2=0
- (/0&,5&
. 5),7+&,-'( -),5 -& 71'+8+&' .&0 2)-&0 -& 5(.54. -& . (/0&,*1+02& &* -& 7)+'
0+ .&0 21*:)-&0 04+7+&0 0),* :)2);3,&0 N -15)2=*&>*>), . (/0&,*1+02& =(' :&4'& =(' -&2+>
I)4',1& =(' I)4',1& L 4 &, &0*>+. =)4' .&0 5(-'&0 &* .( 2(E*'+0& L
. 8(4-'( &,8+, 0 (004'&' -& . &C+0*&,5& -& =')51-4'&0 15'+*&0 F,)*&0 -& 0&'7+5&
+,0*'45*+),0 &*5 G 5),5&',(,* .& '&54&+. -&0 -),,1&0 - (/0&,5& , 5)2=('&'( .&0 -+7&'0
-)542&,*0 =)'*(,* 04' . (/0&,*1+02& (8+, -& 71'+8+&' -&0 15('*0 17&,*4&.0
&0* 0&4.&2&,* @ =('*+' -& -),,1&0 &C(5*&0 <4& . (,(.90& -& . (/0&,*1+02& =)4''(
71'+*(/.&2&,* B*'& &,*'&='+0

. % !

) * !

&**& 21*:)-& .( =.40 .(';&2&,* 4*+.+01& 5),0+0*& @ 2&**'& &, 17+-&,5& .&0
5('(5*1'+0*+<4&0 2)9&,,&0 -&0 =)=4.(*+),0 (/0&,*&0
&..&0>5+ 0),* -15)2=)01&0 =(' (*&.+&'0 )4 0&'7+5& - (==('*&,(,5& (;& 0&C& 8)'2(*+),
+,+*+(.& <4(.+8+5(*+), (,5+&,,&*1 0*(*4* 8(2+.+(. &*:,+& *(+..& -& 8(2+..& (;& -&0 &,8(,*0
1.)+;,&2&,* -4 -)2+5+.& &*5 5&'*(+,&0 5('(5*1'+0*+<4&0 -&0 =)=4.(*+),0 (/0&,*&0 0),* 0)47&,*
5),0+-1'1&0 5)22& -&0 5(40&0 -& . (/0&,*1+02&
( 21*:)-& - (,(.90& =(' -15)2=)0+*+), -&0 =)=4.(*+),0 &, 5('(5*1'+0*+<4&0 &0*+21&0
=&'*+,&,*0 =&'2&* @ . (4-+*&4' - )'+&,*&' 0), +,7&0*+;(*+), 04' .&0 =)=4.(*+),0 0+;,+8+5(*+7&2&,*
.&0 =.40 (/0&,*&0 &**& 21*:)-& -)+* B*'& 5&=&,-(,* 5)2=.1*1 =(' . (,(.90& +,-+7+-4&..& -&0
(/0&,*0

+' * / !

(,(.90& -& . (/0&,*1+02& &, *&'2&0 -& ;')4=& 8),-1& 04' -&0 5'+*3'&0 -& *9=&
J )/I&5*+80 M 5)22& . A;& .& 0&C& .( <4(.+8+5(*+), =')8&00+),,&..& &*5 (/)4*+* @ 5),0+-1'&' .&0
5)2=)'*&2&,*0 @ . +,*1'+&4' -& 5&0 ;')4=&0 5)22& :)2);3,&0 )4 &,5)'& 1<4+7(.&,* @ -&0
2)9&,,&0 &'*(+,&0 =&'0),,&0 ,& 0 (/0&,*&,* I(2(+0 - (4*'&0 *)*(.+0&,* 4, ,)2/'& *'30 1.&71
- (/0&,5&0 &* 0),* 0)47&,* '&0=),0(/.&0 - 4, =)4'5&,*(;& +2=)'*(,* -& . (/0&,5& *)*(.& ")4'
-15)47'+' 5&**& -+0=('+*1 +. &0* ,15&00(+'& -& =')51-&' @ -&0 (,(.90&0 -& '1=('*+*+),0 8),-1&0 04'
.( .)+ -+*& -& !R$! 2(+0 5&0 =')=)'*+),0 7('+&,* 0&.), .&0 &,*'&='+0&0 &**& 21*:)-& =&'2&*
1;(.&2&,* -& ='1-+'& . (/0&,*1+02& &* -),5 .&0 '+0<4&0 &,5)4'40
".4*D* <4& - 1*4-+&' ;.)/(.&2&,* 4, ;')4=& .( *&,0+), 0& =)'*&'( 04' .(
2+,)'+*1 -& =&'0),,& <4+ &0* @ . )'+;+,& -& .( 2(I)'+*1 -&0 (/0&,5&0
( 5)4'/& -& '1=('*+*+), -&0 (/0&,5&0 5)2='&00+/.&0 =&'2&* - +-&,*+8+&' .& -15+.& )4 .&
<4('*+.& 04=1'+&4' .& 5:)+C -&0 ;')4=&0 @ )/0&'7&' 0&'( 8),5*+), -&0 &88&5*+80 5),5&',10 &* -&
0( =('* -(,0 . (/0&,*1+02& *)*(.
)4*&8)+0 . +-&,*+8+5(*+), -&0 (/0&,*0 04' 4,& =1'+)-& 5)4'*& F4, (, =(' &C&2=.&G ,&
=&'2&* =(0 -& -+'& 0+ 5& 0),* *)4I)4'0 .&0 2B2&0 <4+ 0 (/0&,*&,* . 8(4* -),5 (,(.90&' .&
=:1,)23,& 04' 4,& -4'1& =.40 .),;4&
,& 8)+0 <4& .&0 2&2/'&0 -4 =&'0),,&. (==('*&,(,* (4 -&',+&' -15+.& &* (4 -&',+&'
<4('*+.& (4'),* 1*1 +-&,*+8+10 +. &0* ,15&00(+'& -& =')51-&' @ 4, -+(;,)0*+5 -&0 5(40&0 -& .&4'
5)2=)'*&2&,*

) * '

, 2)-3.& (-(=*1 -& . 1*4-& 5.(00+<4& -& &* ='10&,*&0 +5+ .&0
-+7&'0 8(5*&4'0 <4+ =&47&,* +,8.4&,5&' .( ='10&,5& )4 . (/0&,5& -& *'(7(+. &**& -&',+3'& &0*
8),5*+), -& .( 2)*+7(*+), @ B*'& ='10&,* &..&>2B2& -1*&'2+,1& -+'&5*&2&,* =(' .( 5(=(5+*1 -&
='10&,5& -4 0(.('+1 -&0 5),*'(+,*&0 <4+ =&47&,* 0 &C&'5&' 04' .4+ &* -& .( 0(*+08(5*+), -(,0 .&
*'(7(+. &0 -&',+3'&0 *)40 5)22& .( 5(=(5+*1 -& ='10&,5& 0),* =('*+&..&2&,* )4 *)*(.&2&,*
-1*&'2+,1&0 =(' .&0 5('(5*1'+0*+<4&0 =&'0),,&..&0 -1,)221&0 +5+ J 5('(5*1'+0*+<4&0 &C*&',&0 M
& 2)-3.& =&'2&* -& 2+&4C (=='15+&' .( 5)2=.&C+*1 -&0 '&.(*+),0 &* -& 7)+' <4& .&0
&C=.+5(*+),0 0)47&,* (7(,51&0 =(' &C&2=.& 5&..&0 4,+00(,* . (/0&,*1+02& . (;& )4 .& 0&C& =('
&C&2=.& 0),* 0)47&,* .)+, -& '&='10&,*&' .( '1(.+*1 -4 8(+* -& ,)2/'&40&0 7('+(/.&0 &,
='10&,5&
(G +,8.4&,5& -&0 5('(5*1'+0*+<4&0 -4 *'(7(+. 04' .( 0(*+08(5*+), -4 *'(7(+. &* .(
2)*+7(*+), @ B*'& ='10&,* &0* 21-+(*+01& =(' .&0 5('(5*1'+0*+<4&0 =&'0),,&..&0 -&0
(/0&,*0 .&4'0 090*32&0 -& 7(.&4'0 &* .&4'0 (**&,*&0
/G &0 7(.&4'0 &* .&0 (**&,*&0 7+0>@>7+0 -4 *'(7(+. 0),* -+881'&,*&0 - 4, 0(.('+1 @ . (4*'&
..&0 0),* .(';&2&,* -1=&,-(,*&0 -& .&4'0 5('(5*1'+0*+<4&0 =&'0),,&..&0 +,0+ .&0
0(.('+10 (9(,* 4,& 8)'2(*+), +,+*+(.& 04=1'+&4'& =&47&,* 7(.)'+0&' &* (**&,-'& -& =.40
;'(,-&0 ;'(*+8+5(*+),0 -& .&4' *'(7(+. &* -& .&4'0 &,*'&='+0&0
5G &0 5('(5*1'+0*+<4&0 -4 =&'0),,&. ),* .(';&2&,* 1*1 1*4-+1&0 )22& .&
,)*& =(' &C&2=.& % " -& ,)2/'&40&0 8&22&0 0(.('+1&0 )554=(,* -&0
&2=.)+0 -& 8(+/.&0 <4(.+8+5(*+),0 &, '(+0), -& .&4' 8(+/.& ,+7&(4 -& 8)'2(*+), N .&0
'&00)4'5&0 -& .&4'0 21,(;&0 0),* 8(+/.&0 &* .&4' 0(.(+'& &0* .& =.40 0)47&,* 4,
5)2=.12&,* ,15&00(+'& =)4' <4& 5&.4+>5+ -+0=)0& - 4, 2+,+242 0488+0(,* &..&0 ,&
=&47&,* -),5 ;1,1'(.&2&,* ,& =(0 &,7+0(;&' -& 8(+'& (==&. @ . &C*1'+&4' =)4' 8(+'&
8(5& @ .&4'0 '&0=),0(/+.+*10 8(2+.+(.&0 &* 21,(;3'&0
-G ( 5(=(5+*1 -& ='10&,5& '&5)47'& . &,0&2/.& -& 8(5*&4'0 <4+ 5),*'&-+0&,* . +-1& <4&
. (/0&,*1+02& &0* 0&4.&2&,* .& '104.*(* - 4,& -15+0+), +,-+7+-4&..& .+/'&2&,*
5),0&,*+&
&G (4*'&0 5),*'(+,*&0 &C+0*&,* -& ,(*4'&0 -+881'&,*&0 <4+ 0),* (4*(,* -& ='&00+), =)4'
(55')E*'& .( 2)*+7(*+), @ B*'& ='10&,* )4 ,), &0 ='&00+),0 =&47&,* B*'& 0),*
J &C*&',&0 M &* -(,0 5& 5(0 15),)2+<4& &* 0)5+(. 0)+* -& ,(*4'& =&'0),,&..&0

+' * %

+-&,*+8+5(*+), -&0 5('(5*1'+0*+<4&0 -& .( =)=4.(*+), .( =.40 (/0&,*& F -&',+&' -15+.& )4


-&',+&' <4('*+.&G &0* 4, ='&2+&' =(0 7&'0 4, -+(;,)0*+5 -&0 5(40&0 -& . (/0&,*1+02& &.4+>5+
0&'( 5)2=.1*1 =(' .& '&54&+. - +,8)'2(*+), =.40 ='15+0& -& ,(*4'& /&(45)4= =.40
=095:)0)5+).);+<4& (4='30 -&0 '&0=),0(/.&0 -&0 +,*1'&0010 &4C>2B2&0 &,0&2/.& -&0 5(40&0
'&5&,01&0 -&7'(0 8(+'& . )/I&* - 4,& :+1'('5:+0(*+), =)4' -1*&'2+,&' <4&..&0 0),* 5&..&0 <4+
&C=.+<4&,* .& =.40 .& =:1,)23,& - (/0&,*1+02& N &,04+*& =)4''),* B*'& 8)'24.1&0 -&0
'&5)22(,-(*+),0 0 (**(<4(,* 71'+*(/.&2&,* (4C 0)4'5&0 -4 =')/.32&
")4' 2+&4C 5&',&' .&0 '(+0),0 =)4' .&0<4&..&0 5&'*(+,&0 =&'0),,&0 0),* (/0&,*&0 +.
5),7+&,* 4,& 8)+0 .&0 0*(*+0*+<4&0 (,(.901&0 (7&5 . (+-& -& .( :+1'('5:+& -& 2+&4C 5),,(E*'& .&0
2)*+7(*+),0 -&0 +,*1'&0010 &4C 2B2&0

( ='10&,*(*+), -&0 '&5)22(,-(*+),0 0&'( ='151-1& - 4,& (,(.90& -& 8(+0(/+.+*1


=('*+54.+3'&2&,* +2=)'*(,*& <4(,- ), *)45:&'( @ -&0 5(40& 2&**(,* &, I&4C .&0 '&.(*+),0 &,*'& .(
2(E*'+0& &* 0), =&'0),,&.
. ,& 8(4* =(0 )4/.+&' ,), =.40 . +,8.4&,5& -4 09,-+5(* <4+ -(,0 5&'*(+,0 5(0
=&47&,* (-)=*&' 4,& (**+*4-& @ ='+)'+ ,1;(*+7& 7+0>@>7+0 -& 5& <4 +. 5),0+-3'& 5)22& 4,&
(**&+,*& (4 J -')+* @ .( 2(.(-+& M
&0 '&5)22(,-(*+),0 =&47&,* =)'*&' 04' . (21.+)'(*+), -4 090*32& - +,8)'2(*+), &*
04' . (-)=*+), -& 2&04'&0 5)&'5+*+7&0 &* +,5+*(*+7&0 &0 2&04'&0 +,5+*(*+7&0 -& .4**& 5),*'&
. (/0&,*1+02& 5)2='&,,&,* &,*'& (4*'&0 -+881'&,*0 *&5:,+<4&0 *&. <4& . (21,(;&2&,* -&0
:)'(+'&0 . (21.+)'(*+), -&0 5),-+*+),0 -& *'(7(+. . +,0*(4'(*+), -& ='+2&0 -& =.(,0 - 1=(';,&
5),;1 .( ='+0& &, 5)2=*& -& . (/0&,*1+02& =)4' .& ,), =')2)*+), )4 .& '&840 - (4;2&,*(*+),
+,-+7+-4&. 2(+0 1;(.&2&,* -&0 2&04'&0 *&,-(,* @ (21.+)'&' .&0 '&.(*+),0 &,*'& .&0 0(.('+10 &*
.&4'0 04=1'+&4'0 :+1'('5:+<4&0
&0 '&5)22(,-(*+),0 -)+7&,* 8(+'& . )/I&* - 1*4-& (==')8),-+& &* - 4,& 5),5&'*(*+),
(7&5 .& '&0=),0(/.& -4 =&'0),,&. &* .( :+1'('5:+& . 0 (;+* @ .( .+2+*& - 4,& =:(0& -& 2+0& &,
O47'& -(,0 .(<4&..& . (4-+*&4' , ( =(0 @ +,*&'7&,+' -(,0 -& ,)2/'&4C 5(0
(4-+* -& . (/0&,*1+02& 5),-4+* 0)47&,* . (4-+*&4' &* .&0 '&0=),0(/.&0 -& =&'0),,&.0 @
(/)'-&' -&0 =')/.32&0 .+10 @ .( 0(*+08(5*+), &* @ .( 2)*+7(*+), -4 =&'0),,&. 5&.( ,15&00+*&
<4&.<4&8)+0 -&0 (4-+*0 =)'*(,* 04' 4,& 0)40>8),5*+), -& =&'0),,&. )4 4, =)+,* =('*+54.+&' -(,0
. 4,& - &,*'& &..&0 '&='10&,*(,* 4,& -&0 5(40&0 =)00+/.&0 -&0 -+08),5*+),,&2&,*0 1*4-+10

' & #
(4-+* -& . &2=.)+ '&=)0& 04' 4,& (,(.90& -&0 *&,-(,5&0 -& . &2=.)+ -(,0 . &,*'&='+0&
&* -&0 '+0<4&0 &, -15)4.(,* . 4*+.+0& -&0 +,-+5(*&4'0 <4+ =&47&,* 0&'7+' @ 4, ='1 -+(;,)0*+5 2(+0
7( =.40 .)+, . 0& 8),-& - (/)'- 04' 4,& (,(.90& -& . &2=.)+ =)4' 17(.4&' .&0 '+0<4&0
,& ;&0*+), +,(==')='+1& -& . &2=.)+ 0& *'(-4+* &, *&'2&0 -& 5)6*0 &* -& '+0<4&0 =(' -&0
04'>&88&5*+80 -&0 0)40>&88&5*+80 F-18+5+* =(' '(==)'* (4C /&0)+,0 -(,0 5&'*(+,&0 5(*1;)'+&0
=')8&00+),,&..&0 )4 <4(.+8+5(*+),0G -&0 04'><4(.+8+5(*+),0 =(' '(==)'* (4C *'(7(4C &C+;10 -&0
0)40><4(.+8+5(*+),0 -&0 *(4C -& *4',)7&' 1.&710 4,& (/0&,5& -& 2)/+.+*1 &*5 <4+ ),* 4,&
+,5+-&,5& 04' .( 5)2=1*+*+7+*1 -& . &,*'&='+0& )40 5&0 '+0<4&0 =&47&,* B*'& -15&.10 @ . (+-&
- +,-+5(*&4'0 -),* .( 7(.&4' 0&'( (=='15+1& .)'0 - 4, 5),0*(* =)'*(,* 04' .( 0+*4(*+), -&
. &2=.)+ &,7+0(;1& &, *&'2&0 <4(,*+*(*+80 &* <4(.+*(*+80 , 2B2& *&2=0 =)4''),* B*'&
-1;(;1&0 .&0 8)'5&0 <4+ 5),0*+*4&'),* (4*(,* - )==)'*4,+*10 =)4' .& 2(+,*+&, &* .&
-17&.)==&2&,* -& . &,*'&='+0& -(,0 .& 84*4'
!
( ='&2+3'& =:(0& -& . (,(.90& -& . &2=.)+ 5),5&',& . 1*4-& <4(,*+*(*+7& -&0 &88&5*+80
&,7+0(;10 &* -(,0 .&4' *)*(.+*1 &* =(' 0)40>&,0&2/.&0 -18+,+0 0&.), 4, 5&'*(+, ,)2/'& -&
5'+*3'&0 FA;& 0&C& (,5+&,,&*1 *9=& -& 5),*'(* .)5(.+0(*+), 5(*1;)'+& =')8&00+),,&..&
<4(.+8+5(*+), &*5 G )40 5&0 5'+*3'&0 =)4''),* B*'& 5')+010 -& 8(K), @ )/*&,+' 4,& +2(;& =.40
='15+0& -& . 1*(* +,0*(,*(,1 &* -& . 17).4*+), -&0 &88&5*+80 &**& (,(.90& -& . &2=.)+ &0*
5)2=.1*1& =(' 4,& 1*4-& =)'*(,* 04' .&0 5)2=1*&,5&0 .&0 2)*+7(*+),0 &* .&0 =)*&,*+&.0 -&0
+,-+7+-40 5)2=)0(,* .& =&'0),,&.
")4' 2&,&' @ /+&, -& *&..&0 (,(.90&0 . (4-+*&4' -)+* '&54&+..+' 4, &,0&2/.&
- +,8)'2(*+),0 -),* +. (=='15+&'( &, ='&2+&' .+&4 .( 8+(/+.+*1 &* .( 5),8)'2+*1 .1;(.& & , &0*
<4 4,& 8)+0 5&0 =)+,*0 1*(/.+0 <4 4, 5),0*(* =)4''( B*'& -'&001 -& .( 0+*4(*+), -& . &2=.)+ -(,0
. &,*'&='+0& )4 . 1*(/.+00&2&,* (4-+*1
(4-+*&4' 5),04.*&'( .&0 '&;+0*'&0 -4 =&'0),,&. .&0 -15.('(*+),0 )/.+;(*)+'&0 .&0 -+7&'0
1*(*0 - &88&5*+80 . (,,&C& -4 /+.(, .&0 /4-;&*0 - &88&5*+80 .&0 )';(,+;'(22&0 .&0 =).+*+<4&0 &*
=')51-4'&0 &, 2(*+3'& - &2=.)+ .&0 =.(,0 -& =')-45*+), .&0 8+5:&0 -& =)+,*(;& &* *)40 .&0
-)542&,*0 =&'*+,&,*0 <4+ 12(,&,* -& 0&'7+5&0 -+881'&,*0 5)2=*(/+.+*1 +,8)'2(*+<4& 5),*'D.&
-& ;&0*+), =.(,+8+5(*+), -1=('*&2&,* -4 =&'0),,&.
,& 8)+0 .( 8+(/+.+*1 &* .( 5),8)'2+*1 .1;(.& -&0 +,8)'2(*+),0 1*(/.+&0 +. &0* =)00+/.& -&
=')51-&' @ 4,& (,(.90& -& . &2=.)+ &, *&'2&0 <4(,*+*(*+80 &* <4(.+*(*+80 &, ='&,(,* &,
5),0+-1'(*+), @ .( 8)+0 .& =(001 &* .& 84*4' . 5),7+&,* *)4*&8)+0 -& 5.('+8+&' &, ='&2+&' .+&4 .(
,)*+), - &88&5*+8 <4+ 0&'7+'( @ 1*(/.+' .&0 +,-+5(*&4'0 =&'*+,&,*0 =)4' 5&**& (,(.90&

) *

&88&5*+8 , &0* <4 (==('&22&,* 4,& ,)*+), 0+2=.& +. &, &C+0*& (4 2)+,0 4,& -+W(+,&
-& -18+,+*+),0 <4+ -+881'&,* 0&.), . (55&=*+), '&*&,4& 5)22& . &88&5*+8 +,05'+* *:1)'+<4&
=&'2(,&,* 8+05(. =(91 ='10&,* (4 *'(7(+. <4+ 5:(54,& ),* 4,& 4*+.+0(*+), =)00+/.& -+881'&,*&
&88&5*+8 +,05'+* (4 '&;+0*'& -4 =&'0),,&. =&4* B*'& (=='1:&,-1 =(' -+7&'0 +,-+5(*&4'0
. &88&5*+8 +,0*(,*(,1 (4 R N . &88&5*+8 2)9&, (,,4&. N . &88&5*+8 2)9&, 2&,04&. -& . (,,1&
5),0+-1'1& )/*&,4 &, -+7+0(,* =(' .( 0)22& -&0 &88&5*+80 (4 -&',+&' I)4' -& 5:(<4& 2)+0
&88&5*+8 *:1)'+<4& 5)2='&,- J .&0 =&'0),,&0 8(+0(,* =('*+& -& . &,*'&='+0& )4 9
5),0&'7(,* 4, -')+* -& '1+,*1;'(*+), 9 5)2='+0 .&0 5),*'(*0 040=&,-40 5)2=)'*(,* '1+,*1;'(*+),
)/.+;(*)+'&0 , -1-4+0(,* -& . &88&5*+8 *:1)'+<4& .&0 5),*'(*0 040=&,-40 =)4' (/0&,5& -& .),;4&
-4'1& F0&'7+5& 2+.+*(+'& .),;4&0 2(.(-+&0G ), )/*+&,* . &88&5*+8 +,05'+*
&88&5*+8 =&'2(,&,* -(,0 .& /+.(, 0)5+(. +,5.4* .&0 0(.('+10 @ *&2=0 =.&+,0
*+*4.(+'&0 - 4, 5),*'(* -& *'(7(+. @ -4'1& +,-1*&'2+,1& +,05'+*0 @ . &88&5*+8 =&,-(,* *)4*& . (,,1&
5),0+-1'1& , 0),* -),5 &C5.40 .&0 *+*4.(+'&0 -& 5),*'(*0 @ -4'1& -1*&'2+,1& (+,0+ <4& .&0
0(.('+10 @ *&2=0 =('*+&. . 5),7+&,-'(+* -),5 -& '1 +,5.4'& 5&0 -&',+&'0 (4 =')'(*( -&0 :&4'&0
&88&5*41&0 =(' '(==)'* (4C :)'(+'&0 J,)'2(4CM =)4' (7)+' 4,& +-1& &C(5*& -&0 &88&5*+80
=&'2(,&,*0 '1&.0
&88&5*+8 8+05(. 5)2='&,- *)4*&0 .&0 =&'0),,&0 <4+ ),* 8+;4'1 @ . &88&5*+8 @ <4&.<4& *+*'&
<4& 5& 0)+* &* <4+ -& 5& 8(+* ),* =&'K4 4,& '124,1'(*+), 5&=&,-(,* 0),* &C5.40 -& 5&**&
,)*+), *)40 .&0 0(.('+10 <4+ *+*4.(+'&0 - 4, 5),*'(* -& *'(7(+. , ),* =(0 -4 8(+* =(' &C&2=.& -&
040=&,0+),0 '&K4 4, 0(.(+'& -4'(,* . &C&'5+5&
&88&5*+8 =(91 5)''&0=),- (4 ,)2/'& -& =&'0),,&0 -),* .( '124,1'(*+), &0* *)*(.&2&,*
)4 =('*+&..&2&,* 2(+,*&,4& F5),;10 =(910 (/0&,5&0 2(.(-+& +,5.40G
&88&5*+8 ='10&,* 5),*'(+'&2&,* @ 5& <4& 5&* (-I&5*+8 .(+00&'(+* 04==)0&' 5)2='&,-
. &88&5*+8 (4 *'(7(+. 2(+0 1;(.&2&,* 5&.4+ <4+ &0* )554=1 -(,0 -&0 (5*+7+*10 ,), :(/+*4&..&0 -&
5)4'*& -4'1& F7+0+*&0 21-+5(.&0 +,8+'2&'+& -1.1;(*+),G )4 =)47(,* 0 1*(.&' 04' 4,& =.40 .),;4&
=1'+)-& F8)'2(*+),G

+' * / !

&**& (,(.90& 0& 8(+* - (/)'- &, &C(2+,(,* .& =&'0),,&. =(' 5(*1;)'+& &,04+*& &,
5),0+-1'(,* 4, 5&'*(+, ,)2/'& -& 5'+*3'&0 *&.0 <4& . A;& . (,5+&,,&*1 .( .)5(.+0(*+), &*5 ..&
=&4* B*'& &,7+0(;1& - 4, =)+,* -& 74& +,0*(,*(,1 5 &0*>@>-+'& &, ,& 5),0+-1'(,* <4& .&0 '104.*(*0
@ 4, 2)2&,* -),,1 )4 &, (-)=*(,* 4, =)+,* -& 74& -9,(2+<4& =&'2&**(,* - &C=.+<4&' .&0
2)47&2&,*0 <4+ ),* =4 B*'& @ . )'+;+,& -& 5&0 '104.*(*0

• &4/0+' 8/#24/'
(,(.90& ;.)/(.& -&0 &88&5*+80 &,7+0(;10 -(,0 .&4' *)*(.+*1 )4 =(' 5(*1;)'+& =&4* B*'&
4*+.&2&,* 2&,1& &, '(==')5:(,* . 17).4*+), -& 5&0 -&',+&'0 -& 5&..&0 -& .( =')-45*+), -& .(
7(.&4' (I)4*1& -4 5)6* -4 5(=+*(. . &0* 1;(.&2&,* =)00+/.& -& 5)2=('&' .& *)*(. -&0 &88&5*+80 @
.( 2(';& /'4*& &* - )/0&'7&' .&0 17).4*+),0 (4 5)4'0 -4 *')+0 -&',+3'&0 (,,1&0 &.( =&'2&*
- (7)+' 4,& 74& ;1,1'(.& -& .( 0+*4(*+), -& . &2=.)+ &, '(==)'* (7&5 .( '&,*(/+.+*1 &* .(
5)2=1*+*+7+*1 -& . &,*'&='+0& F&, 5)2=('(,* .&0 '(*+)0 )/*&,40 -(,0 . &,*'&='+0& (4-+*1& (7&5
5&4C -&0 5),54''&,*0 ,(*+),(4C &* +,*&',(*+),(4C =(' &C&2=.&G 2(+0 , (4*)'+0& =(0 @ =)'*&' -&
71'+*(/.&0 (=='15+(*+),0 04' .&0 -101<4+.+/'&0 =)00+/.&0 <4+ ,15&00+*&,* 4,& (,(.90& -& .(
0*'45*4'& -&0 &88&5*+80 5)2/+,(,* =.40+&4'0 5'+*3'&0
• &4/0+' ,' /4 +$)1-$1)' ,'+ '(('-$%(+

&4/0+' ,' /4 +$)1-$1)' 54) A8'


A;& 2)9&, 5),0*+*4& 4, +,-+5(*&4' +,0488+0(,* =)47(,* '&5)47'+' -&0 7('+(*+),0
+2=)'*(,*&0 =)4' (,(.90&' .&0 &88&5*+80 04' 5& 5'+*3'& +,0+ -(,0 4,& &,*'&='+0& .( '1=('*+*+),
-&0 &88&5*+80 =(' A;& ( 2),*'1 <4 +. &C+0*(+&,* -&4C 2)-&0 . 4, 5)''&0=),-(,* @ 4, A;&
'&.(*+7&2&,* /(0 . (4*'& @ 4, A;& '&.(*+7&2&,* 1.&71

&4/0+' ,' /4 +$)1-$1)' 54) 4&-%'&&'$6


&**& (,(.90& 0& 5)2/+,& 0)47&,* (7&5 5&..& 5),5&',(,* . A;& =)4' )/0&'7&'
,)*(22&,* .&0 &88&*0 -4 *4',)7&' )4 @ . +,7&'0& -& .( 0*(/+.+*1 -&0 &88&5*+80 &* -& .( 8+-1.+*1 @
. &,*'&='+0&
& ='&2+&' )4*+. 4*+.+01 &0* .( =9'(2+-& -&0 (,5+&,,&*10 <4+ 0&'* @ (,(.90&' .( 0*'45*4'& &*
@ (=='15+&' . (-1<4(*+), -&0 )/I&5*+80 5),5&',(,* .&0 1.12&,*0 -& .( '124,1'(*+), <4+ 0),*
-+'&5*&2&,* .+10 (4 *&2=0 -& ='10&,5& -(,0 . &,*'&='+0& &0 *'(,5:&0 5:)+0+&0 0),* .& =.40
0)47&,* 8),5*+), -&0 5.(40&0 -& .( 5),7&,*+), 5)..&5*+7&
. &0* 1;(.&2&,* =)00+/.& -& 5(.54.&' -&0 +,-+5&0 -& 0*(/+.+*1 5)22&

= #*2)' ,' 5')+#&&'+ 404&$ 5/1+ , 1& 4& , 4&-%'&&'$6 41 B B ?C

(('-$%( 5')*4&'&$ B B

&4/0+' 54) /#-4/%+4$%#&


,& (,(.90& -& .( '1=('*+*+), -&0 &88&5*+80 0&.), .& -)2+5+.& F1.)+;,&2&,* -4 .+&4 -&
*'(7(+.G &* .& 0*(*4* F=')='+1*(+'& .)5(*(+'& -4 .);&2&,*G =&4* 0&'7+' =)4' .( ='17+0+), -&
,)47&..&0 +,0*(..(*+),0 &, -&:)'0 -& .( '1;+), 17&,*4&..&2&,* 2(+0 1;(.&2&,* =)4' . (,(.90&
-4 *4',)7&' &* -& . (/0&,*1+02&

&4/0+' 54) 914/%(%-4$%#&


&0 <4(.+8+5(*+),0 &,7+0(;1&0 =&47&,* B*'& 5&..&0 5)''&0=),-(,* (4C ;'(,-&0 5(*1;)'+&0
-&0 5),7&,*+),0 5)..&5*+7&0 )47'+&'0 &2=.)910 *&5:,+5+&,0 (;&,*0 -& 2(E*'+0& -&00+,(*&4'0
5(-'&0 &**& 5.(00+8+5(*+), =&4* B*'& (88+,1& =(' . (-)=*+), -& 5)&88+5+&,*0 =&'2&**(,* - (7)+'
4,& 74& =.40 8+,& -& .( 0*'45*4'& -&0 <4(.+8+5(*+),0
(-1<4(*+), -& .( 0*'45*4'& -&0 <4(.+8+5(*+),0 (4C 5),*'(+,*&0 *&5:,).);+<4&0
=)4''( B*'& 17(.41& &, 5)2=('(,* .&0 '104.*(*0 )/*&,40 @ 5&4C <4+ =&47&,* B*'& )/0&'710 -(,0
-&0 1*(/.+00&2&,*0 )4 &,*'&='+0&0 -& 2B2& *(+..& &2=.)9(,* 4,& *&5:,).);+& 5)2=('(/.&
=('*+' -&0 )';(,+;'(22&0 &* - 4,& (,(.90& (==')8),-+& . (4-+*&4' =)4''( +-&,*+8+&'
-&0 =)0*&0 @ :(4*0 '+0<4&0 -(,0 . &,*'&='+0& &* &C(2+,&' <4&..&0 =)00+/+.+*10 -& '&2=.(5&2&,*
&C+0*&,* &, 5(0 -& -1=('* -&0 *+*4.(+'&0 (5*4&.0

&4/0+' 54) +$4$1$


(4-+* - 4,& 5(*1;)'+& -& =&'0),,&. @ 0*(*4* =('*+54.+&' 5)22& =(' &C&2=.& 5&..& @
*&2=0 =('*+&. &0* 4, (4-+* -& . &2=.)+ 2&,1 &, *&'2& -& 8+(/+.+*1 -& 5),8)'2+*1 - &88+5(5+*1
+,0+ -(,0 4,& 0)5+1*1 - (004'(,5&0 . (4-+* ( 1*1 2&,1 &, 5)2/+,(,* 4, 5&'*(+, ,)2/'& -&
5'+*3'&0 0&C& -1=('*&2&,* - (==('*&,(,5& ,)2/'& - :&4'&0 -)2+5+.& A;& (,5+&,,&*1 (
5),8)'2+*1 &0* (=='15+1& =(' '(==)'* (4C &C+;&,5&0 .1;(.&0 &* 5),7&,*+),,&..&0 N .& 5('(5*3'&
5)2=.&* &* &C(5* -&0 +,8)'2(*+),0 -+0=),+/.&0 &0* (=='15+1 &, *&,(,* 5)2=*& -&0 5'+*3'&0
'&*&,40 (,5+&,,&*1 '1=('*+*+), -&0 :)'(+'&0 (/0&,*1+02& *9=& -& 5),*'(* 2)*+80 -4 *&2=0
=('*+&. &*5

• &4/0+' ,'+ *#1:'*'&$+ ,1 5')+#&&'/

&4/0+' ,'+ *#1:'*'&$+ ';$')&'+


& 8(+* @ . (+-& - +,-+5(*&4'0 -& *4',)7&' <4+ -&7'(+* B*'& &,7+0(;1 +5+ 0)40 0&0
-+881'&,*&0 8)'2&0 5)''&0=),-(,* @ -&0 5(40&0 0=15+8+<4&0 7).),*(+'&0 F-12+00+),0 '1&..&0G &*
+,7).),*(+'&0 F-1=('*0 @ .( '&*'(+*& )4 &, ='1>'&*'(+*& .+5&,5+&2&,*0G &0 -1530 0),* 0)47&,*
&C5.40 -&0 5(.54.0 , &,7+0(;&'( 04'*)4* +5+ .& *4',)7&' 7).),*(+'& =(' 5(*1;)'+& A;&
-1=('*&2&,* )4 0&'7+5& 04=1'+&4' :+1'('5:+<4& (,5+&,,&*1 0&C& 5&* 1;('- +. 5),7+&,* -&
-+0*+,;4&' &,*'& .& *4',)7&' ;1,1'(. &* 5&.4+ (88&5*(,* .&0 ,)47&(4C &2/(45:10
+881'&,*0 +,-+5(*&4'0 =&47&,* B*'& '&*&,40 =)4' 2&04'&' . (2=.&4' -&0 2)47&2&,*0
(88&5*(,* .& =&'0),,&.

+,0+ .& '(*+) 5.(00+<4&2&,* '&*&,4 &0*

#*2)' ,' ,654)$+

(('-$%( *#0'&
4'(,* 4,& =1'+)-& -),,1& & ,)2/'& -& -1=('*0 +,5.4* (400+ /+&, .&0
-1=('*0 &, '&*'(+*& <4& .&0 .+5&,5+&2&,*0 .&0 24*(*+),0 )4 .&0 -1=('*0 -& 0(+0),,+&'0 &* .&0 8+,0
-& 5),*'(*0 @ -4'1& -1*&'2+,1&
. 5),7+&,* (.)'0 -& ='15+0&' .& =:1,)23,& =(' -&0 '(*+)0 =.40 ='15+0 2&04'(,* =('
&C&2=.& . +2=)'*(,5& -&0 -1=('*0 7).),*(+'&0 -4'(,* 4,& =1'+)-& -),,1&

D #*2)' ,' ,6*%++%#&+

(('-$%( *#0'&

".40 ='15+012&,* &,5)'& +. &0* +,-+0=&,0(/.& -& 5(.54.&' -&0 *(4C - +,0*(/+.+*1 &
*4',)7&' -&0 ,)47&(4C &2/(45:10 5)2=.3*& .&0 +,-+5(*&4'0 /'4*0 +. &0* 2&04'1 =(' .& '(*+) -+*
-4 *(4C -& 04'7+&

#*2)' ,' )'+$4&$+ 41 2#1$ ,' & *#%+

#*2)' , '*241-7'+

4 =(' 4, +,-+5(*&4' 5)2=.12&,*(+'& F*4',)7&' -&0 ,)47&(4C &2/(45:10G

E #*2)' ,' 54)$4&$+ 41 2#1$ ,' & *#%+

#*2)' , '*241-7'+
& *4',)7&' =&4* B*'& '&='10&,*1 0)40 8)'2& - 4,& 5)4'/& -& 04'7+& )H 8+;4'& &,
)'-),,1& .& =)4'5&,*(;& -& =&'0),,&. '&0*(,* =(' '(==)'* (4 ,)2/'& - &2/(45:&0 &* &,
(/05+00& .& ,)2/'& -& 2)+0 -& ='10&,5&

&4/0+' ,'+ *#1:'*'&$+ %&$')&'+


&0 2)47&2&,*0 +,*&',&0 5)2='&,,&,* (400+ /+&, .( 2)/+.+*1 :)'+W),*(.& F*'(,08&'*0G
<4& 7&'*+5(.& F=')2)*+),0G +.0 =&47&,* B*'& (=='15+10 =(' 4,& 01'+& - +,-+5(*&4'0 2&04'(,* .&0
2)47&2&,*0 0)+* =)4' . &,0&2/.& -4 =&'0),,&. 0)+* =)4' 4,& 5(*1;)'+& =('*+54.+3'& 0)+* =)4'
4, 0&'7+5&

,' * / !
&**& (,(.90& =&4* =)'*&' 04' .&0 5)2=1*&,5&0 .& =)*&,*+&. &* 17&,*4&..&2&,* .(
2)*+7(*+), -4 =&'0),,&. . 5),7+&,* 5&=&,-(,* -& 0)4.+;,&' <4& 5& -&',+&' =)+,* 21'+*& @ .4+
0&4. 4, (4-+* =('*+54.+&' '1(.+01 =(' . +,*&'21-+(+'& - &,<4B*&0 - (**+*4-&0 )4 - )=+,+),0 )40
,)40 /)',&'),0 +5+ @ &C(2+,&' . (,(.90& -4 =&'0),,&. &, *&'2&0 -& 5)2=1*&,5& &* -& =)*&,*+&.
&4/0+' ,'+ -#*56$'&-'+
&**& (,(.90& 5)2=.3*& 5&..& =)'*(,* 04' .&0 <4(.+8+5(*+),0 +. 5),7+&,* -& 2&04'&' .&
,+7&(4 -& 8)'2(*+), =(' 5(*1;)'+& =')8&00+),,&..& , -'&00&'( (+,0+ 4, :+0*);'(22& -&0
8)'2(*+),0 +,+*+(.&0 &* 4, (4*'& -&0 8)'2(*+),0 5),*+,4&0 &.( =&4* =&'2&**'& -& 5),0*(*&' .&
=)4'5&,*(;& -& 5(-'&0 (4*)-+-(5*&0 -(,0 .( =)=4.(*+), 5(-'& =(' &C&2=.& 2(+0 -& 7)+'
1;(.&2&,* <4&..&0 8)'2(*+),0 5),*+,4&0 +.0 ),* 04+7+0 .& ,+7&(4 -& 8)'2(*+), -4 =&'0),,&. -&
. &,*'&='+0& =&4* B*'& 17(.41 -& 8(K), +,-+'&5*& &, 5)2=('(,* 5&0 +,-+5(*&4'0 (7&5 5&4C 1*(/.+0
(4 ,+7&(4 -& .( /'(,5:& =(' &C&2=.& .0 0),* 5&=&,-(,* @ '(==')5:&' -& .( =')-45*+7+*1 &* -&0
=&'8)'2(,5&0 -& . &,*'&='+0& &* -& 5:(54, -&0 2&2/'&0 -4 =&'0),,&. 5),5&',1 . &0* (.)'0
,15&00(+'& =)4' 4, 5&'*(+, ,)2/'& -& 5(0 F=)0*&0 -& '&0=),0(/+.+*1G -& 0 (==49&' 04' .&0
(=='15+(*+),0 -&0 =&'8)'2(,5&0 .)'0<4 &..&0 &C+0*&,* &* -& *&,+' 5)2=*& -&0 5('(5*1'+0*+<4&0
0=15+8+<4&0 -& 5:(<4& (5*+7+*1 (+,0+ <4& -& .( 5)4'/& -& 7+& -4 )4 -&0 =')-4+*0 , 5(.54.&'( .&
*(4C -& 2)/+.+*1 =)*&,*+&. 5)22& 04+*

E C #*2)' ,' )'*5/4F4&$+ 5#++%2/'+ B #*2)' ,' 5#+$'+

, '(*+) +,81'+&4' @ )4 +,-+<4& 4,& =1,4'+& -&0 '&00)4'5&0 :42(+,&0 ,15&00(+'&0


=)4' &88&5*4&' .&0 '&2=.(5&2&,*0 N @ . +,7&'0& 4,& 7(.&4' -& . )'-'& -& )4 0&'( 1;(.&2&,*
4, 5.+;,)*(,* - (.&'*&

) *0
( ;&0*+), ='17+0+),,&..& -4 =&'0),,&. '&5)47'& .&0 =).+*+<4&0 090*32&0 &* =')51-4'&0
<4+ ),* =)4' /4* -& 0 (004'&' <4& .& ,)2/'& (==')='+1 -& =&'0),,&0 (9(,* .&0 <4(.+8+5(*+),0 &*
0=15+8+5(*+),0 -),* . &,*'&='+0& ( /&0)+, =)4' '1(.+0&' 0&0 )/I&5*+80 @ 5)4'* &* .),; *&'2& 0&'(
-+0=),+/.& &, *&2=0 4*+.& &* (4C .+&4C 7)4.40
( ;&0*+), ='17+0+),,&..& -4 =&'0),,&. ,& *'(+*& <4& -& =')/.32&0 5)..&5*+80 . (55&,* &0*
-),5 2+0 +5+ 04' . &,*'&='+0& &* ,), 04' . +,-+7+-4 ..& &0* .+1& @ .( =')-45*+7+*1 @ .),; *&'2& &*
@ .( 5),*+,4+*1 -& . )';(,+0(*+), &..& -)+* -),5 B*'& +,*1;'1& @ .( =.(,+8+5(*+), &* (4C (4*'&0
8),5*+),0 -& =&'0),,&. F8)'2(*+), -17&.)==&2&,* ;&0*+), -&0 5(''+3'&0 '&5'4*&2&,*G

+' * 0
( 2+0& &, 17+-&,5& -&0 =')/.32&0 17&,*4&.0 &* -& .&4'0 5(40&0 -(,0 .(
;&0*+), ='17+0+),,&..& -4 =&'0),,&. =(00& =(' 4,& 01'+& - 1*(=&0 .( ='&2+3'& 5),0+0*& @
5)2=('&' .&0 '104.*(*0 (4C )/I&5*+80 N .&0 04+7(,*&0 @ &C(2+,&' - (/)'- .&0 =).+*+<4&0 &*
='(*+<4&0 4*+.+01&0 =)4' -18+,+' .&0 /&0)+,0 &* .&0 '&00)4'5&0 :42(+,&0 &,04+*& .&0 090*32&0
/(010 04' -&0 =')51-4'&0 -& -15+0+), 5)224,+5(*+), &* 5),*'D.& &, 7+;4&4' -(,0 .(
=.(,+8+5(*+), &,8+, @ 1*4-+&' .( '1=('*+*+), -&0 '&0=),0(/+.+*10 &, 5& -)2(+,&

• %48&#+$%- 86&6)4/
")4' .& '1(.+0&' 4, 5&'*(+, ,)2/'& - +,-+5(*&4'0 0&'),* '&*&,40 =)4' 5&',&' -&0 '104.*(*0
F04' )4 0)40>&88&5*+80 =(' &C&2=.&G &0 )/I&5*+80 8)'2(.+010 0&'),* 5)2=('10 (4C '104.*(*0 &*
8&'),* -(,0 .& 5(0 )H +.0 , ),* =(0 1*1 (**&+,*0 . )/I&* - 4,& (,(.90& -& 5):1'&,5& (7&5 5&4C
8+C10 =)4' - (4*'&0 0)40>8),5*+), -& =&'0),,&. &* (7&5 5&4C ;1,1'(4C -& . &,*'&='+0&

• 6(%&%$%#& ,'+ 2'+#%&+


( -18+,+*+), -&0 /&0)+,0 -& =&'0),,&. '1=),- (4C <4&0*+),0 5),5&',(,* .& ,)2/'& -&
=&'0),,&0 -10+'1&0 (9(,* 4,& <4(.+8+5(*+), &* 5)2=1*&,5& -1*&'2+,1&0 =)4' )554=&' 4, =)0*&
&* -),* .&0 0=15+8+5(*+),0 -)+7&,* B*'& ='15+01&0 @ 4, 2)2&,* -),,1 . 0 (;+* -),5 -&
-1*&'2+,&' .( <4(,*+*1 <4(.+*1 .)5(.+0(*+), &* *&2=0 ( -18+,+*+), -&0 /&0)+,0 -& =&'0),,&.
5)''&0=),- @ 5&..& -& .( -&2(,-& -& . &,*'&='+0&

• 6$')*%&4$%#& ,'+ )'++#1)-'+


&0 '&00)4'5&0 :42(+,&0 5)''&0=),-&,* @ 4,& )88'& <4+ =&4* B*'& (004'1& 0)+* =(' -&0
0)4'5&0 +,*&',&0 0)+* =(' .& '&5)4'0 (4C 2('5:10 -4 *'(7(+. &C*&',&0
( -18+,+*+), -&0 '&00)4'5&0 :42(+,&0 -)+* 0 (==49&' 04' -&0 +,8)'2(*+),0 8+(/.&0 &*
7(.+-&0 5),5&',(,* .&0 &88&5*+80 -4 =&'0),,&. &C+0*(,* =(' <4(.+8+5(*+), ,+7&(4 -& =&'8)'2(,5&
=)*&,*+&. &5+ +2=.+<4& 4,& 5):1'&,5& -&0 +,8)'2(*+),0 -1*&,4&0 =(' .&0 -+881'&,*0 0&'7+5&0
F-1=('*&2&,* -& =&'0),,&. +,8)'2(*+<4& =')-45*+), 2('X&*+,; &*5 G

• 654)$%$%#& ,'+ )'+5#&+42%/%$6+


&0 15('*0 5),0*(*10 &,*'& .&0 /&0)+,0 &C+0*(,*0 &* 84*4'0 - 4,& =('* &* .&0 '&00)4'5&0
:42(+,&0 - (4*'& =('* =&47&,* =')7&,+' &,*'& (4*'&0 5:)0&0 - 4,& =&'5&=*+), -&0
'&0=),0(/.&0 :+1'('5:+<4&0 04' .&0 'D.&0 &0*+210 0&5),-(+'&0 -4 =')5&0040 -& =.(,+8+5(*+), &* .&0
21*:)-&0 4*+.+01&0 =)4' 5)224,+<4&' &* 5),*'D.&' -&0 +,8)'2(*+),0 5),5&',(,* .&0 /&0)+,0 &*
'&00)4'5&0 &, 2(+,>- O47'& , 2B2& *&2=0 4,& (/0&,5& -& -18+,+*+), 15'+*& &* 5.(+'& -&0
'&0=),0(/+.+*10 -(,0 .& =')5&0040 -& =.(,+8+5(*+), =&4* &,5)4'(;&' .&0 '&0=),0(/.&0
:+1'('5:+<4&0 @ 5),0+-1'&' .( ;&0*+), -4 =&'0),,&. ,), =(0 0)40 4, (,;.&
='17+0+),,&. 2(+0 04' 4,& /(0& =),5*4&..& .)'0<4& .&0 /&0)+,0 0 &, 8),* 0&,*+'

• &4/0+' ,'+ 5/4-'*'&$+


&'*(+,0 (4*&4'0 &* ='(*+5+&,0 '&5)22(,-&,* -& 5)2=.1*&' . (4-+* -& .( ;&0*+),
='17+0+),,&..& -4 =&'0),,&. =(' 4,& (,(.90& -&0 =.(5&2&,*0 5 &0*>@>-+'& -&0 =')2)*+),0 &* -&0
*'(,08&'*0 <4+ =&4* B*'& &,7+0(;1& 04' =.40+&4'0 =.(,0 5)..&5*+80 &* +,-+7+-4&.0 )40 ,&
'&*+&,-'),0 +5+ 5),8)'212&,* @ .( -18+,+*+), <4& ,)40 (7),0 '&*&,4& =)4' .( ;&0*+),
='17+0+),,&..& -4 =&'0),,&. <4& .&0 (0=&5*0 5)..&5*+80 +,0+ -&7'(>*>), 5('(5*1'+0&' .&0
-+881'&,*&0 0*'(*1;+&0 &, 2(*+3'& -& =')2)*+), @ (,5+&,,&*1 (4 21'+*& 0&.), . A;& .&
-+=.D2& )4 .& =(00(;& @ *'(7&'0 4,& 8+.+3'&

,' *
&0 =)+,*0 8)'*0 *)4* (4*(,* <4& .&0 =')/.32&0 17&,*4&.0 -15&.10 (4 5)4'0 -4 5),0*(*
-'&001 =(' . (4-+*&4' -&7'(+&,* B*'& (=='15+10 &, *&,(,* 5)2=*& -&0 5),*'(+,*&0 *(,* &C*&',&0
<4 +,*&',&0 <4+ =30&,* 04' . &,*'&='+0&
+,0+ . (4-+*&4' (7&5 . (+-& -&0 ='+,5+=(4C '&0=),0(/.&0 -&7'( 1*(/.+' .& =)+-0 -&0
5),*'(+,*&0 *&,(,* @ .( .1;+0.(*+), @ . &,7+'),,&2&,* 15),)2+<4& @ .( 0+*4(*+), 04' .& 2('5:1
-4 *'(7(+. @ .( 09,-+5(.+0(*+), -(,0 . &,*'&='+0& (4 5('(5*3'& -&0 0*(*4*0 -4 =&'0),,&.

/
& '&5'4*&2&,* &0* &, 8(+* .( -&',+3'& )=1'(*+), =(' )'-'& 5:'),).);+<4& 5& , &0*
<4 (='30 (7)+' 1=4+01 -+7&'0 2)9&,0 *&.0 <4& .( =')2)*+), +,*&',& .&0 '&5.(00&2&,*0 .&0
*'(,08&'*0 <4& .&0 &,*'&='+0&0 '&5)4'&,* (4 2('5:1 &C*&',& -& . &2=.)+ =)4' 5)2/.&' .&4'0
/&0)+,0 &0 /&0)+,0 84*4'0 &, =&'0),,&. -1=&,-&,* -+'&5*&2&,* -&0 )/I&5*+80 ;1,1'(4C -&
. &,*'&='+0& -&0 =');'(22&0 -& =')-45*+), &* - 4, +,7&,*(+'& -&0 '&00)4'5&0 :42(+,&0 .&0
)/I&5*+80 &, 2(*+3'& -& ;&0*+), ='17+0+),,&..& -4 =&'0),,&. -&7'(+&,* -),5 '&8.1*&' .(
=:+.)0)=:+& ;1,1'(.& -4 2(,(;&2&,* 8(4*& -& <4)+ .&0 )=1'(*+),0 -& '&5'4*&2&,* '+0<4&,*
- B*'& +,&88+5(5&0
")4' =')51-&' @ 4, (4-+* -4 '&5'4*&2&,* +. &0* ,15&00(+'& -& '(00&2/.&' -&0
+,8)'2(*+),0 (9(,* *'(+* (4C )/I&5*+80 =).+*+<4&0 =');'(22&0 &* =')51-4'&0 -& 01.&5*+), -&
'&5'4*&2&,* - (554&+. &* -& -1=('* N -& '&54&+..+' .&0 -),,1&0 5),5&',(,* .&0 -+7&'0 5)6*0 -&
'&5'4*&2&,* ,)*(22&,* @ =('*+' -& 5&..&0 *'(,02+0&0 =(' .& 5),*'D.& -& ;&0*+), N - &C(2+,&' .&0
8+5:+&'0 -& =&'0),,&. &* .&0 -)00+&'0 +,-+7+-4&.0 N -& 5),0+-1'&' .&0 (=='15+(*+),0 =)'*(,* 04' .&0
=&'8)'2(,5&0 -&0 ,)47&(4C &2/(45:10 (4 2)2&,* -& .&4' &2/(45:& &* <4&.<4&
*&2=0 (='30 N - 1*4-+&' .&0 0*(*+0*+<4&0 - &2/(45:& -& *4',)7&' - &88&5*+80 =(' 5(*1;)'+&
8)'2(*+), +,+*+(.& &C=1'+&,5& <4(.+8+5(*+), -(*& &* .+&4 - &2/(45:& )'+;+,& ;1);'(=:+<4&
0&'7+5& )H .& ,)47&. &2/(45:1 ( 5)22&,51 0( 5(''+3'& &*5 (,0 5&'*(+,&0 0+*4(*+),0 +. &0*
4*+.& -& -1=)4+..&' .&0 &,*'&*+&,0 -& -1=('* =)4' 5),,(E*'& .&0 2)*+80 (9(,* =)4001 .&0 ,)47&(4C
&2/(45:10 @ <4+**&' . &,*'&='+0&

) *&
& '&5'4*&2&,* +,*&',& )4 &C*&',& 5)2=)'*& 4,& 01'+& - )=1'(*+),0 <4+ =&47&,* B*'&
'(,;1&0 &, 5+,< 5(*1;)'+&0 -18+,+*+), &* (,(.90& -&0 /&0)+,0 '&5:&'5:& -& 5(,-+-(*4'&0
01.&5*+), -15+0+), - &2/(45:& +,0&'*+), M
( ='&2+3'& 1*(=& 5),0+0*& @ 8)'24.&' 4,& -&2(,-& ='15+0(,* .& =)0*& @ =)4'7)+' 0&0
0=15+8+5(*+),0 &, 2(*+3'& -& <4(.+8+5(*+), 0=15+(.+*10 '124,1'(*+), =.(5& -(,0
. )';(,+;'(22&
( -&4C+32& 1*(=& 7+0& .( '&5:&'5:& -& 5(,-+-(*4'& 0)+* 04' .& 2('5:1 +,*&',& -&
. &2=.)+ 0)+* 04' .&0 2('5:10 &C*&',&0
( *')+0+32& 1*(=& 5),5&',& .( 01.&5*+), <4+ 5)2='&,- .&0 -+7&'0&0 )=1'(*+),0 -&0*+,1&0
@ 1.+2+,&' 4, 5&'*(+, ,)2/'& -& 5(,-+-(*4'&0
,8+, .( -&',+3'& =:(0& -4 =')5&0040 -4 '&5'4*&2&,* '&5)47'& .&0 -+7&'0&0 )=1'(*+),0
*&..&0 <4& .( 8)'2(.+0(*+), -4 .+&, I4'+-+<4& &,*'& . &2=.)9&4' &* .& ,)47&. &2/(45:1 =('
. +,*&'21-+(+'& - 4, 5),*'(* -& *'(7(+. . (554&+. &* &,8+, . (-(=*(*+), <4+ 0),* -&0*+,10 (4*(,* @
(21.+)'&' . +,*1;'(*+), -4 ,)47&. &2/(45:1 -(,0 . &,*'&='+0& <4 @ (551.1'&' 0( =')-45*+7+*1

+' * / !
&**& (,(.90& 04==)0& <4& .&0 +,8)'2(*+),0 '&54&+..+&0 0)+&,* 8+(/.&0 =)4' 5&.(
. (4-+*&4' -&7'( 0 (004'&' =(' -+7&'0 '&5)4=&2&,*0 <4& .&0 5:+88'&0 8(+*0 &* )=+,+),0
5)''&0=),-&,* /+&, @ .( '1(.+*1

• 1,%$ ,' -#&(#)*%$6


(4-+*&4' 0 (**(5:&'( @ 71'+8+&' 0+ .&0 =')51-4'&0 0),* '&0=&5*1&0 &* 0+ .&0 ='(*+<4&0 0),*
&, 5),8)'2+*1 (7&5 .&0 )/.+;(*+),0 .1;(.&0 . 71'+8+&'( 0+ .&0 (4*)'+0(*+),0 /4-;1*(+'&0 ),* /+&,
1*1 8)'2(.+01&0 0+ .( '&5:&'5:& -& 5(,-+-(*4'& ( '&0=&5*1 .( .1;+0.(*+), 0+ .&0 5),*'(*0 -& *'(7(+.
0),* 5)2=.&*0 0+ .( 5),8+-&,*+(.+*1 &0* (004'1& 0+ . &,*'&='+0& , )4*'&=(00& =(0 0&0
-')+*0 -(,0 5&'*(+,&0 -&2(,-&0 -& '&,0&+;,&2&,*0 &*5

• &4/0+' '& $')*'+ , '((%-4-%$6 '$ , '((%-%'&-'


")4' 17(.4&' .&0 '104.*(*0 &, *&'2& - &88+5(5+*1 &* - &88+5+&,5& . (4-+*&4' 4*+.+0&'( 4,
5&'*(+, ,)2/'& - +,-+5(*&4'0 <4(,*+*(*+80 &* <4(.+*(*+80 +,0+ . (4-+*&4' 0 (**(5:&'( @ 5)2=('&'
.&0 '104.*(*0 )/*&,40 (4C )/I&5*+80 ='1(.(/.&2&,* -18+,+0 +. 71'+8+&'( =(' &C&2=.& .& '&0=&5*
-&0 )/I&5*+80 -& =')2)*+), +,*&',& &, 5)2=('(,* .& ,)2/'& -& '&5'4*10 &C*&',&0 @ 5&.4+ -&0
=')240 =(' 5(*1;)'+& =')8&00+),,&..&
. 71'+8+&'( 1;(.&2&,* @ <4&. 5)6* 5&0 )=1'(*+),0 ),* 1*1 '1(.+01&0 ( <4(.+*1 -&0
'&5'4*&2&,*0 F+,*&',&0 &* &C*&',&0G =)4''( B*'& 17(.41& @ =('*+' - (=='15+(*+),0 =)'*1&0 =(' .(
:+1'('5:+& 04' .&0 =&'8)'2(,5&0 -&0 ,)47&(4C &2/(45:10 (+,0+ <4& .& *&2=0 2+0 =)4' 5)2/.&'
.&0 /&0)+,0 -15.('10 . 5),7+&,-'( +5+ &,5)'& -& *&,+' 5)2=*& -& .( 7(.&4' -&0 +,-+5&0 -&
0*(/+.+*1 -& ,)47&(4C &2/(45:10
,8+, . (,(.90& -&0 *(4C -& *4',)7&' -&0 ,)47&(4C &2/(45:10 =)4''( 5),-4+'& @ 4,&
1*4-& =.40 (==')8),-+& 04' .&0 2)*+7(*+),0 -&0 =('*(,*0 &* (/)4*+' (+,0+ @ .( 2+0& &, 17+-&,5&
- 4, 5&'*(+, ,)2/'& -& =')/.32&0
(=='15+(*+), -& . &88+5(5+*1 &* -& . &88+5+&,5& =&'2&* -& =)'*&' 4, I4;&2&,* 2B2&
(==')C+2(*+8 04' .&0 '+0<4&0 &,5)4'40 =(' . &,*'&='+0&

,' * 0
&0 15('*0 5),0*(*10 =&47&,* B*'& &C=.+<410 =(' 4, 5&'*(+, ,)2/'& -& 5(40&0 (**&0*1&0
=(' -&0 +,-+5(*&4'0 &* -&0 8(+*0 5&4C>5+ 0),* )/*&,40 @ . +004& - (,(.90&0 =)'*(,* 04' .(
5):1'&,5& -&0 )/I&5*+80 -& '&5'4*&2&,* (7&5 5&4C -&0 (4*'&0 8),5*+),0 &* (7&5 .&0 )/I&5*+80
;1,1'(4C -& . &,*'&='+0& & ,),>'&0=&5* -&0 =')51-4'&0 .&4' ,),>=&'*+,&,5& )4 .&4' (/0&,5&
2(+0 (400+ 17&,*4&..&2&,* .( 8)'2(*+), ,), (-(=*1& -&0 '&5'4*&4'0 )4 -&0 +,*&'7+&U&4'0 0),*
1;(.&2&,* -&0 +,-+5(*&4'0 @ '&*&,+'
&0* &, &88&* (4 74 -& .( 7(.&4' -&0 +,-+5(*&4'0 '&*&,40 <4& . (4-+*&4' =)4''(
-+(;,)0*+<4&' .&0 5(40&0 -&0 =')/.32&0 &* =')=)0&' -&0 '&5)22(,-(*+),0
&0 (,(.90&0 5)2=.1*1&0 =(' 5&..&0 =)'*(,* 04' . &C+0*&,5& &* .& '&0=&5* -&0 =')51-4'&0
=&'2&**'),* @ . (4-+*&4' - 1*(/.+' 4,& .+0*& -& 5(40&0 -&0 =')/.32&0 17&,*4&.0 -15&.10 -& .&0
:+1'('5:+0&' &* - 1*(/.+' -&0 '&5)22(,-(*+),0
*+*'& - &C&2=.& .&0 5),5.40+),0 - 4, (4-+* 04' .& '&5'4*&2&,* ),* 1*1 .&0 04+7(,*&0

• +0& &, =.(5& - 4, 090*32& - +,8)'2(*+), 04' .&0 ,)47&(4C &2/(45:10 N

• *(/.+00&2&,* - 4,& =')51-4'& - (554&+. N

• ),*(5*0 (7&5 .&0 4,+7&'0+*10 &* .&0 15).&0 N

• ('2),+0(*+), -&0 5)2=*&0 /4-;1*(+'&0 5),5&',(,* .&0 5)6*0 -4 '&5'4*&2&,*

' & # $
(4-+* -& .( =(9& ( 1*1 4, -&0 ='&2+&'0 (0=&5*0 -& .( 8),5*+), "&'0),,&. (4<4&. 0& 0),*
+,*1'&0010 .&0 (4-+*&4'0 (+0 5&4C>5+ .& 5),5&7(+&,* &* .& 5),K)+7&,* &,5)'& 0)47&,* 5)22& 4,
=').),;&2&,* -& . (4-+* 8+,(,5+&' &* . (/)'-&,* ;1,1'(.&2&,* -(,0 4,& )=*+<4& -& 71'+8+5(*+),
5)2=*(/.& &* - (4-+* )=1'(*+),,&. , &88&* *)4*& 2(,+=4.(*+), -& 8),-0 =&4* &,*'(E,&' -&0
8'(4-&0 &* -&0 &''&4'0 0& *'(-4+0(,* &, *)4* 1*(* -& 5(40& =(' -&0 =&'*&0 =)4' . &,*'&='+0&
40(;& -& . +,8)'2(*+<4& ( &,5)'& (55'4 .&0 '+0<4&0 <4& =&4* 8(+'& 5)4'+' .( 8),5*+), =(9& @
. &,*'&='+0& , )4*'& 5& -)2(+,& &0* =.40 (+012&,* 5),*'D.(/.& <4& .&0 (4*'&0 8),5*+),0 -&
=&'0),,&. =(' 0), 5('(5*3'& <4(,*+*(*+8 .&0 (4-+*&4'0 9 7)9(+&,* -),5 4, =').),;&2&,* ,(*4'&.
-& . (4-+* 8+,(,5+&' &=&,-(,* @ . :&4'& (5*4&..& .( =&'0=&5*+7& (-)=*1& =)4' (4-+*&' .( =(9&
*&,- @ 0 1.(';+' =)4' (=='15+&' ,), 0&4.&2&,* .( 8+(/+.+*1 &* .( 5),8)'2+*1 -&0 )=1'(*+),0 -&
=(9& 2(+0 (400+ =)4' 5),5&7)+' 5&..&>5+ -(,0 4,& =&'0=&5*+7& -& 2(,(;&2&,* (8+, - 17(.4&'
0), &88+5(5+*1
, (4-+* -& .( =(9& ( =)4' )/I&5*+80
• & 71'+8+&' .( 5),8)'2+*1 -&0 ='(*+<4&0 (7&5 .( .1;+0.(*+), &* .&0 =')51-4'&0 &, 7+;4&4'
-(,0 . &,*'&='+0& N
• & 0 (004'&' -& .( 0154'+*1 -4 090*32& -& =(9& N
• 17(.4&' 0), &88+5(5+*1 @ =('*+' -& 5'+*3'&0 -& '1;4.('+*1 F=(9&' @ *&2=0G - &C(5*+*4-&
F=(9&' .&0 0)22&0 &C(5*&0 -4&0G &* &,8+, - +-&,*+8+5(*+), -&0 '15+=+&,-(+'&0 F=(9&' @ <4+
-& -')+*G , &C(2+,&'( 1;(.&2&,* .& 5('(5*3'& 17).4*+8 -4 090*32& -& =(9& =)4'
71'+8+&' 0 +. '1=),- /+&, (4C 5('(5*1'+0*+<4&0 &* )/I&5*+80 -& . &,*'&='+0&
(4-+* -& .( =(9& 5)2=)'*& 4,& 01'+& - 1*(=&0 5)''&0=),-(,* @ 5&..&0 -4 =')5&0040 -&
.( =(+& <4 +. &0* -),5 ,15&00(+'& (7(,* - &,*(2&' 4, *&. (4-+* -& 5),,(E*'&
!
( =(9& &0* 4,& 8),5*+), &C*'B2&2&,* 5)2=.&C& &, '(+0), -& .( -+7&'0+*1 -&0 1.12&,*0
<4+ .( 5)2=)0&,* F'&;')4=10 &, '4/'+<4&0 -& =(+&G &* -& .( 24.*+=.+5+*1 -&0 )=1'(*+),0 @ '1(.+0&'
=)4' .( 2&**'& &, '(,5&
&=&,-(,* .&0 -+7&'0&0 )=1'(*+),0 -& .( =(9& =&47&,* B*'& '&;')4=1&0 &, *')+0 ;'(,-&0
5(*1;)'+&0 )'-),,(,5&2&,* =(+&2&,* 5)2=*(/+.+0(*+), & 05:12( 04+7(,* ='10&,*& .&0
='+,5+=(.&0 1*(=&0 -4 =')5&0040 -& .( =(9&

! "

& ' ! "

# $ %

!&" () )# ")

&

(,(.90& -& 5&0 )=1'(*+),0 04==)0& .& '(00&2/.&2&,* - 4,& 2(00& +2=)'*(,*&
- +,8)'2(*+),0 5),*&,4&0 -(,0 -+7&'0 -)542&,*0 )';(,+;'(22& -18+,+*+),0 -& 8),5*+),
21*:)-&0 -& 5(.54. =')51-4'&0 15.('(*+), ,,4&..& -&0 (.(+'&0 .+7'& -& =(+& 5)2=*&
),7&,*+), )..&5*+7& 55)'- - &,*'&='+0& &* - 1*(/.+00&2&,* 8+5:+&'0 -& =&'0),,&. 1*(* -&0
&88&5*+80 &* -&0 :&4'&0 &*5
)'0 -&0 -+881'&,*&0 =:(0&0 -& . (4-+* . (4-+*&4' 5:&'5:&'( *)4I)4'0 @ 71'+8+&'
0+ 5&'*(+,0 ='+,5+=&0 5),5&',(,* . (-2+,+0*'(*+), -& .( =(+& 0),* (==.+<410 5),5&=*+), -& .(
=(+& 5)22& )4*+. -& ;&0*+), N 01=('(*+), -&0 8),5*+),0 N *9=&0 -& 5),*'D.& &C&'510
& ='&2+&' =)+,* @ 71'+8+&' &0* 5&.4+ -& 0(7)+' 0+ .( =(9& &0* 5),K4& 5)22& 4, )4*+. -&
;&0*+), )4 0+ &..& &0* .+2+*1& 0&4.&2&,* @ .( '124,1'(*+), -4 =&'0),,&. -(,0 5& 5(0 +. 8(4-'(
0& -&2(,-&' 0+ .&0 -)542&,*0 0&'7(,* -& /(0& =)4' . 1.(/)'(*+), -& .( =(+& 0),* 0=15+(.&2&,*
5),K40 =)4' 5&**& -&',+3'& )4 ,),
( 01=('(*+), -&0 8),5*+),0 ( *'(+* @ .( '1=('*+*+), &,*'& -&0 =&'0),,&0 -+881'&,*&0 -&0
-+7&'0&0 )=1'(*+),0 -& .( =(+& )'-),,(,5&2&,* &* =(+&2&,* =(+&2&,* &* 5)2=*(/+.+0(*+),
5)2=*(/+.+0(*+), &* -15.('(*+),
,8+, . (4-+*&4' &0* 5),5&',1 =(' .( 71'+8+5(*+), -& . &C+0*&,5& &* -& . (==.+5(*+), -&
090*32&0 -& 5),*'D.& &4C>5+ -)+7&,* B*'& &C&'510 @ ='+)'+ =.4*D* <4 @ =)0*&'+)'+ 5& ='+C
0&'),* 17+*10 -&0 &''&4'0 -&0 8'(4-&0 -&0 5)6*0 04==.12&,*(+'&0 -40 (4C -+7&'0&0
'1;4.('+0(*+),0 &* -&0 =1,(.+*10 17&,*4&..&0 -4 8(+* -& .( ,), 5),8)'2+*1 -&0 )=1'(*+),0 @ .(
.1;+0.(*+), &, 7+;4&4' (4-+*&4' 0 (004'& (+,0+ -& . &C+0*&,5& -& 5),*'D.&0 (-1<4(*0 =)4'
)/*&,+' 4,& =(+& '1;4.+3'& &C(5*& &* 5),8)'2&
")4' '&54&+..+' .&0 -+881'&,*&0 +,8)'2(*+),0 ,15&00(+'&0 .&0 (4-+*&4'0 =&47&,* '&5)4'+' @
-+881'&,*&0 *&5:,+<4&0 4,& J 5:&5X>.+0* M 5)2=)'*(,* 4,& 01'+& -& <4&0*+),0 @ 71'+8+&' )4 -&0
0),-(;&0 -(,0 .&0 /4..&*+,0 -& =(9&
(4-+* -& .( =(9& =')='&2&,* -+* 5)2='&,- 4,& 01'+& - 1*(=&0 5),0+0*(,* @ 5),*'D.&'
5:(54,& -&0 )=1'(*+),0 -& .( =(9& @ =('*+' - +,-+5(*&4'0 <4+ =&'2&**'),* -& -'&00&' 4, 5),0*(*
&* -(,0 .& 5(0 )H -&0 =')/.32&0 0),* 2+0 @ I)4' - 1*(/.+' 4, -+(;,)0*+5 -&0 '&0=),0(/+.+*10 &*
&,8+, -& 8)'24.&' -&0 '&5)22(,-(*+),0 =)4' .&0 1.+2+,&'

/ !
&**& 1*(=& 0& -15)2=)0& &..&>2B2& &, -+881'&,*&0 =:(0&0

• &4/0+' ,'+ 24+'+ ,' /4 )6*1&6)4$%#&


)22& .& 04;;3'& 4,& -&0 ='&2+3'&0 *A5:&0 -& . (4-+*&4' 5),0+0*& @ 1*4-+&' +5+
4,& 01'+& - )=1'(*+),0 (..(,* -& .( 71'+8+5(*+), -& . (-1<4(*+), -4 0(.(+'& -&0 &2/(45:10 @ 5&.4+
-4 =)0*& <4 +.0 )554=&,* @ .( 2+0& @ I)4' -&0 8+5:+&'0 -&0 -)00+&'0 -& =&'0),,&. &, =(00(,* =('
. &C(2&, -&0 (==.+5(*+),0 -&0 (4;2&,*(*+),0 5)..&5*+7&0 &* +,-+7+-4&..&0
& 5),*'D.& -& .( 8+C(*+), -&0 /(0&0 -& .( '124,1'(*+), +2=.+<4& .( 71'+8+5(*+), -&
. &C+0*&,5& -& =')51-4'&0 -& 5),*'D.& &* 5&..& -& .&4' (==.+5(*+),
. 0 (;+* - (/)'- -& 71'+8+&' 0+ .&0 =&'0),,&0 ),* 1*1 &2/(45:1&0 (4 0(.(+'&
5)''&0=),-(,* @ .( 5.(00+8+5(*+), -& .&4' =)0*& 0+ .( 5),7&,*+), 5)..&5*+7& ( 1*1 '&0=&5*1& &* 0+ .(
I40*+8+5(*+), -& .( -15+0+), ='+0& ( 1*1 2(*1'+(.+01& =(' 4, -)542&,* 0+;,1 -4 '&0=),0(/.& &*
7&'01 -(,0 .& -)00+&' -& .( =&'0),,& 5),5&',1& , (4*'& 5),*'D.& =&4* 5),5&',&' .( 71'+8+5(*+),
+,-+5+(+'& -&0 =)0*&0 =(' .& 04+7+ -& 5&'*(+,0 0(.('+10
. 5),7+&,* 1;(.&2&,* -& =')51-&' @ 4, &C(2&, -& . (==.+5(*+), -&0 (4;2&,*(*+),0
5)..&5*+7&0 &* +,-+7+-4&..&0 5&**& )=1'(*+), &0* '1(.+01& =(' .& 5),*'D.& *)4* (4 .),; -& . (,,1&
-&0 /4..&*+,0 -& 0(.(+'& - 4, 5&'*(+, ,)2/'& -& =&'0),,&0 *+'1&0 (4 :(0('- +,0+ =(' &C&2=.&
0&'),* 71'+8+1&0 .&0 (4;2&,*(*+),0 +,-+7+-4&..&0 (4 21'+*& &* .&0 I40*+8+5(*+80 <4+ .&0
(55)2=(;,&,*

• D6)%(%-4$%#& ,'+ '(('-$%(+


. 0 (;+* +5+ -& 5),*'D.&' 0+ .&0 =&'0),,&0 @ <4+ 0),* 7&'010 .&0 0(.(+'&0 (==('*+&,,&,* /+&,
@ . &88&5*+8 )4 &,5)'& 0),* '1&..&2&,* ='10&,*&0 &**& )=1'(*+), =(00& =(' 4, 5),*'D.& -4
5),*&,4 -&0 8+5:+&'0 5),5&',(,* ,)*(22&,* .&0 1.12&,*0 -&05'+=*+80 -& .( 0+*4(*+), =&'0),,&..&
&* =')8&00+),,&..& -& 5:(<4& 0(.('+1 (8+, -& 2&**'& &, 17+-&,5& -&0 15('*0 =)00+/.&0
(4-+*&4' =')53-& +5+ @ *)4*& 4,& 01'+& -& 5)2=('(+0),0 &,*'& .&0 &88&5*+80 =(910 &*
='10&,*0 .&0 &88&5*+80 =(910 -4'(,* . (,,1& &* -4'(,* . (,,1& > .& ,)2/'& -& /4..&*+,0 -&
=(9& &* . &88&5*+8 +,05'+* &*5
")4' 5&'*(+,&0 5(*1;)'+&0 -& =&'0),,&. 5)22& .& =&'0),,&. =(91 @ *&2=0 =('*+&. .&0
+,*1'+2(+'&0 .&0 0*(;+(+'&0 )4 .&0 *+*4.(+'&0 -& 5),*'(*0 @ -4'1& -1*&'2+,1& +. &0* 0)47&,*
=')51-1 @ 4, &C(2&, =)'*(,* 04' .( *)*(.+*1 -& .( =)=4.(*+), -& 5:(<4& 5(*1;)'+& 04' 4,& -4'1&
5)''&0=),-(,* &, ;1,1'(. @ . &C&'5+5& 5)2=*(/.& )4 @ . (,,1& 5+7+.&
)4*&0 5&0 )=1'(*+),0 =&47&,* 5),-4+'& @ .( -15)47&'*& -& =&'0),,&. J8(,*D2&M (9(,*
<4+**1 . &,*'&='+0& &* 5&=&,-(,* *)4I)4'0 =(91
")4' -1*&5*&' .&0 =')/.32&0 17&,*4&.0 . (4-+*&4' 5)22& =)4' *)4*&0 .&0 (4*'&0
)=1'(*+),0 -& .( =(9& -+0=)0& - 4, 5&'*(+, ,)2/'& - +,-+5(*&4'0 -),* 7)+5+ <4&.<4&0
&C&2=.&0
• (/0&,5& - (4*)'+0(*+),0 '&<4+0&0 =)4' .( 2)-+8+5(*+), -& .( .+0*& -&0 0(.('+10
=)4''(+&,* &,*'(E,&' -&0 8'(4-&0 )4 4, 04'5)6* N
• &0 8+5:+&'0 ,), 2+0 @ I)4' '1;4.+3'&2&,* =)4''(+* 5(40&' -&0 =(9&2&,*0 +,-40 N
• &0 /4..&*+,0 -& 0(.(+'&0 ,), '15.(210 +,5+*&'(+* @ . (==('+*+), - 4, J =&'0),,&.
8(,*D2& M
• #&$)./' ,'+ $'*5+ ,' $)4:4%/
& 5),*'D.& -&0 *&2=0 +2=.+<4& 4,& (,(.90& -& . &C+0*&,5& &* -& . (==.+5(*+),
-&0 =')51-4'&0 -& '&54&+. -& . +,8)'2(*+), 5),5&',(,* .&0 :&4'&0 - &,*'1& -& 0)'*+& -&0 ='+0&0
-& =)0*& -& *'(7(+. (+,0+ <4& .& ,)2/'& - :&4'&0 04==.12&,*(+'&0
(4-+*&4' &C(2+,& 5)22&,* (''+7&,* .&0 +,8)'2(*+),0 =)4' &, 71'+8+&' .( 8+(/+.+*1 &*
5)22&,* &..&0 0),* 2+0&0 @ I)4' . 71'+8+& =(' &C&2=.& <4& .&0 *&2=0 '&*&,40 =(' .&0
=)+,*&(4C 0),* '1&..&2&,* 5),*'D.(/.&0 =(' .& 0&'7+5& =(9& N <4& .&0 5)''&5*+),0 -& *&2=0 8),*
. )/I&* -& .+0*&0 '15(=+*4.(*+7&0 -62&,* (==')471&0 =(' 4, '&0=),0(/.& N <4& .&0 :&4'&0 -&
='10&,5& 5)''&0=),-&,* /+&, (4C :&4'&0 '&*&,4&0 =)4' .( 5)2=*(/+.+*1 (,(.9*+<4&
&0 2)-&0 -& 5),*'D.& &C&'510 7('+&,* 5&=&,-(,* &, 8),5*+), -4 *9=& -& =)=4.(*+),
0(.('+1& F)47'+&' &2=.)91 5(-'&G -& .( =).+*+<4& 04+7+& &, 5& -)2(+,& -& .( ,(*4'& -&
. (5*+7+*1 -& . &,*'&='+0&

• #&$)./' ,'+ 6/6*'&$+ -#*5/6*'&$4%)'+


&0 1.12&,*0 5)2=.12&,*(+'&0 5)2='&,,&,* .&0 ='+2&0 .+1&0 @ .( =')-45*+), 5&..&0
*&,(,* (4 =)0*& )4 @ .( 0+*4(*+), =&'0),,&..& -& . +,*1'&001 .&0 '&*&,4&0 -+7&'0&0 F='B*0 0(+0+&0
.)9&'0 (7(,5&0 (5)2=*&0 &*5 G
4*'& . &C(2&, -&0 =')51-4'&0 &* -& .&4' (==.+5(*+), .( 71'+8+5(*+), =)'*& =(' &C&2=.&
04' .&0 (4*)'+0(*+),0 ='1(.(/.&0 04' .& 2),*(,* -&0 ='+2&0 (..)41&0 04' .( '1=('*+*+), -& 5&0
='+2&0 =(' =&'0),,& 04' .( 5),5)'-(,5& -&0 -1-45*+),0 =)4' .& '&2/)4'0&2&,* -& ='B*0 (7&5
.&0 2),*(,*0 ='1740 (4 5),*'(* 04' .& ,), -1=(00&2&,* -4 =.(8),- (4*)'+01 =)4' .&0 (7(,5&0
04' .&0 =)0*&0 )4 <4(.+8+5(*+),0 -),* .&0 *+*4.(+'&0 8),* . )/I&* -& '&*&,4&0 04' 0(.(+'&0

• #&$)./' ,'+ -4/-1/+ '$ ,'+ 6$4$+ 5)654)4$#%)'+ ,' /4 540'


(,0 .( -&',+3'& )=1'(*+), -& 71'+8+5(*+), -&0 )=1'(*+),0 - )'-),,(,5&2&,* -&4C *9=&0
- (4-+*0 =&47&,* B*'& '1(.+010 4,& 71'+8+5(*+), 5)2=*(/.& -&0 5(.54.0 &* 4, (4-+* +,8)'2(*+<4&
( 71'+8+5(*+), -& .( 5),8)'2+*1 -&0 2),*(,*0 @ 7&'0&' (7&5 5&4C 5)''&0=),-(,* (4C
=')-4+*0 -& /(0& -&0 -+7&'0 1.12&,*0 -& .( '124,1'(*+), -&0 &88&5*+80 &* -&0 *&2=0 -& *'(7(+.
=(00& -(,0 5&'*(+,0 5(0 =(' .( '&='+0& -&0 5(.54.0 . (4-+*&4' 5)2=('& .&0 '104.*(*0 )/*&,40
(7&5 5&4C <4+ 8+;4'&,* -(,0 .&0 1*(=&0 ='1=('(*)+'&0 -& .( =(+& & 5),*'D.& -&0 5(.54.0 &0*
.(';&2&,* 8(5+.+*1 .)'0<4& -&0 1*(*0 -& =(+& -1*(+..10 0),* 1-+*10 =&'2&**(,* (+,0+ -& '&2),*&'
8(5+.&2&,* - 4,& =(+& +,-+7+-4&..& @ . &,0&2/.& -4 I)4',(. -& =(+& &'*(+,&0 &''&4'0 =&47&,*
-15)4.&' -4 8(+* <4& .&0 =(9&0 0),* (''B*1&0 (7(,* .( 8+, -4 2)+0 @ =(9&' .&0 5(.54.0 0),*
&88&5*410 (.)'0 &,*'& .& ! &* .& -4 2)+0 &* 5&'*(+,&0 +,8)'2(*+),0 ,& =&47&,* B*'& 0(+0+&0 @
*&2=0 ..&0 ,15&00+*&,* 0)+* 4, '&=)'* 04' .& 2)+0 04+7(,* 0)+* 4, *'(+*&2&,* 2(,4&. <4+ =&4*
&,*'(E,&' 5&'*(+,&0 -+05)'-(,5&0 &,*'& .&0 *)*(4C -&0 I)4',(4C -& =(+& &* 5&4C )/*&,40
&, 8(+0(,* .( 0)22& -& /4..&*+,0 -& =(9& )4 5&4C -&0 -15.('(*+),0 &* -&0 -+7&'0 1*(*0
0*(*+0*+<4&0
(,0 .& 5(0 .& =.40 8'1<4&,* )H .( =(+& &0* +,8)'2(*+01& .( 71'+8+5(*+), -&0 5(.54.0 =&4*
(..&' I40<4 @ . &C(2&, -& . (-1<4(*+), -&0 '104.*(*0 -4 =');'(22& -& =(+& (4 5(:+&' -&0
5:(';&0 &* 17&,*4&..&2&,* @ 0( 2+0& &, 5(40& (4-+*&4' (=='15+& =(' &C&2=.& .& 01'+&4C -4
0)40>*'(+*(,* N +. 1*4-+& .& 5),*'(* -& 0)40>*'(+*(,5& &C(2+,& .( =')='+1*1 &* . (55&00+/+.+*1 -&0
8+5:+&'0 5:&W .& 0)40>*'(+*(,* N &* 5),0+-3'& (400+ .&0 (.*&',(*+7&0 -& *'(+*&2&,* &, 5(0 - (''B* -&
.( =')-45*+), 5:&W .& 0)40>*'(+*(,* &.( . (23,& @ 0& =)0&' -&0 <4&0*+),0 04' .( 5),8+-&,*+(.+*1
-&0 )=1'(*+),0 &* .( '1;4.('+*1 -4 0&'7+5& <4+ '&5)47'&,* &, =('*+& .& -+(;,)0*+5 -&0
'&0=),0(/+.+*10
(,0 .& 5(0 )H .( =(9& +,8)'2(*+01& &0* (004'1& =(' 4, 0&'7+5& +,*&',& . (4-+*&4'
'1(.+0&'( -(,0 5&'*(+,0 5(0 4, 5),*'D.& -&0 =');'(22&4'0 (8+, - B*'& 06' -& .( 8+(/+.+*1 &* -& .(
5),8+-&,*+(.+*1 -&0 )=1'(*+),0
)4*&0 .&0 )=1'(*+),0 - )'-),,(,5&2&,* -),,&,* .+&4 @ .( =4/.+5(*+), - 4, 5&'*(+,
,)2/'& -& =')-4+*0 5)22& .&0 I)4',(4C -& =(+& .&0 /4..&*+,0 -& 0(.(+'&0 .&0 -15.('(*+),0 .&0
1*(*0 0*(*+0*+<4&0 &*5 ='30 4, 5),*'D.& -&0 '104.*(*0 - (='30 -&0 I)4',(4C -& =(9& <4+ =&'2&*
-& -1*&5*&' - 17&,*4&..&0 &''&4'0 .&0 -+7&'0 =')-4+*0 0),* +2='+210 &* 71'+8+10 =4+0 &,7)910 (4C
-&0*+,(*(+'&0 =('2+ .&0<4&.0 .( 5)2=*(/+.+*1 <4+ =')51-&'( (4 =(+&2&,*
(4-+*&4' 71'+8+&'( <4& .( .+0*& -&0 -&0*+,(*(+'&0 -&0 1*(*0 &0* 2+0& @ I)4' &* <4& .&0
('5:+7&0 -& 0(.(+'&0 0),* 5),0&'71&0 &, 5),8)'2+*1 (7&5 .&0 &C+;&,5&0 .1;(.&0 &* -(,0 -&0
5),-+*+),0 0488+0(,*&0 -& 0154'+*1

&**& 1*(=& -& . (4-+* 5),5&',& . &C(2&, -&0 =')51-4'&0 -& =(+&2&,* -&0 0(.(+'&0 ,&*0
-&0 (7(,5&0 &* -& 7&'0&2&,* -&0 5:(';&0 @ -&0 )';(,+02&0 . 0 (;+* +5+ -& 71'+8+&' 0+ .&0
0)22&0 0),* /+&, 7&'01&0 @ <4+ -& -')+* -(,0 .&0 -1.(+0 +2=('*+0 0+ .&0 /4..&*+,0 -& 0(.(+'&0
0),* 5)2='1:&,0+/.&0 0+ .&0 5),-+*+),0 -(,0 .&0<4&..&0 .&0 8),-0 0),* *'(,0=)'*10 )88'&,* *)4*&0
.&0 ;('(,*+&0 -& 0154'+*1
&'*(+,0 +,-+5(*&4'0 0),* 4*+.+010 =)4' 71'+8+&' .&0 5),5)'-(,5&0 =(' &C&2=.& &,*'& .&0
0)'*+&0 -& 7(.&4'0 &* .&0 *)*(4C /'4*0 +2=)0(/.&0 &* .&0 *)*(4C ,&*0 @ =(9&' (4-+*&4' &C(2+,&
0+ .& =(+&2&,* -&0 5:(';&0 )/.+;(*)+'&0 &* ,), )/.+;(*)+'&0 @ -+7&'0 )';(,+02&0 &0* &88&5*41 @
*&2=0 -& 8(K), &C(5*& (4-+*&4' 71'+8+& 1;(.&2&,* .& 2),*(,* -&0 '&2/)4'0&2&,*0 -&0
+,-&2,+*10 2(.(-+& )4 -&0 8'(+0 21-+5(4C =(' .( 0154'+*1 0)5+(.& &0 '&-'&00&2&,*0 =&47&,*
B*'& )=1'10 @ .( 04+*& -& 71'+8+5(*+),0 =)'*(,* 04' .& 5('(5*3'& .1;(.&2&,* )/.+;(*)+'&
-& 5&'*(+,0 7&'0&2&,*0

/ !
)40 5)22& .&0 'D.&0 -& 5)2=*(/.& &* - )'-),,(*&4' -)+7&,* B*'& 01=('10 .(
5)2=*(/+.+0(*+), ,& -&7'(+* =(0 B*'& (004'1&0 =(' .&0 2B2&0 =&'0),,&0 <4+ 0 )554=&,* -&0
-15.('(*+),0 0)+* -&0 0(.(+'&0 0)+* -&0 5:(';&0
& 5),*'D.& -& .( 5)2=*(/+.+0(*+), '173.& 0)47&,* -&0 J 040=&,0 M '104.*(,* -&
'1;4.('+0(*+),0 -4&0 &..&0>2B2&0 @ .( 5)''&5*+), -&0 &''&4'0 5),0*(*1&0 -(,0 .&0 5(.54.0 (
='10&,5& -&0 2B2&0 J 040=&,0 M 04' =.40+&4'0 =1'+)-&0 5),0154*+7&0 '173.&,* -&0 =')/.32&0
-),* .( 0).4*+), =(00& =(' -& ,)47&..&0 15'+*4'&0
&C(2&, -& .( 5)2=*(/+.+*1 (,(.9*+<4& =&'2&* 1;(.&2&,* -& 7)+' 0+ .&0 5)6*0 -&
=&'0),,&. ),* 1*1 5)''&5*&2&,* +2=4*10
(4-+* -& .( =(9& =&4* 5),*+,4&' -(,0 .& 5(0 )H -&0 =')/.32&0 ),* 1*1 2+0 @ I)4' =('
4,& 17(.4(*+), -& . &88+5(5+*1 -& 5&**& 8),5*+), &* -&0 0&'7+5&0 <4+ 0 &, )554=&,* . 0 (5:37&'(
=(' .( 8)'24.(*+), -& '&5)22(,-(*+),0

0
!
& -+(;,)0*+5 -&0 '&0=),0(/+.+*10 5),0+0*& @ &C(2+,&' <4&.0 'D.&0 I)4&,* .&0 -+881'&,*0
+,*&'7&,(,*0 F:+1'('5:+& 0&'7+5& -4 =&'0),,&. =)+,*&(4 PG -(,0 5:(54,& -&0 )=1'(*+),0 -&
/(0& -& .( =(9&
& *(/.&(4 -& '1=('*+*+), -&0 '&0=),0(/+.+*10 -(,0 .( 8),5*+), =(9& &0* 4, &C&2=.& -&
;'+..& @ '&2=.+' =)4' 1*(/.+' .( 01=('(*+), -&0 '&0=),0(/+.+*10 -),* .& ,), '&0=&5* =&4* &,*'(E,&'
-&0 '+0<4&0 -& 8'(4-&0 )4 - &''&4'0 7)+'& -&0 -)4/.&0 &2=.)+0 )4 -&0 *A5:&0 ,), &88&5*41&0
,& *&..& ;'+..& =&'2&* -& 71'+8+&' 0+ .&0 5),*'D.&0 0),* /+&, 2+0 &, =.(5& =)4' 5:(54,& -&0
)=1'(*+),0 2&,*+),,1&0

&'7+5&0 +1'('> &'7+5& ")+,> )2=*(> '10)> ,8)'> 4*'&0


=1'(*+),0 5:+& "&'0),,&. *&(4C /+.+*1 '&'+& 2(*+<4&
> 2/(45:&0
> 1=('*0
> "')2)*+),0
> .(00+8+5(*+),0
> &05'+=*+), -&0
=)0*&0
> 18+,+*+), -&
=')51-4'&0
> +5:+&'0 -&
=&'0),,&.
> )00+&'0
+,-+7+-4&.0
> 4;2&,*(*+),0
5)..&5*+7&0
> 4;2&,*(*+),0
+,-+7+-4&..&0
> "'+2&0
> "'10&,5&
• &.&71 -&0 :&4'&0
• 15)2=*& -&0
:&4'&0

> /0&,5&0
> :(,;&2&,* -&
='+2&0
> ),+
> &*&,4&0 -&
.)9&'
> &*&,4&0 -&
0(+0+&0
> 5)2=*&0
> "'B*0
> 7(,5&0
> ).-&0 -&
5)2=*&0
> **&0*(*+),0 -&
0(.(+'&0
> +'&2&,*0
/(,5(+'&0
> (,*+,&
> ,-&2,+*10
2(.(-+&
> &'0&2&,*
5)*+0(*+),0
> *(/.+00&2&,* -&0
-15.('(*+),0

4 5)4'0 -& 5&**& 1*(=& =&4* B*'& 1;(.&2&,* '1(.+01& 4,& 1*4-& 04' .&0 -+881'&,*&0
-1.1;(*+),0 -& =)47)+' <4+ 0),* ;1,1'(.&2&,* )'(.&0 &* *'(-+*+),,&..&0 . 0 (;+'( -& 71'+8+&' +5+
<4+ ( .( 0+;,(*4'& /(,5(+'& -(,0 <4&. 5(0 4,& -)4/.& 0+;,(*4'& &0* ,15&00(+'& <4&..& &0* .(
8)'2& &* .( -(*& -& .( -1.1;(*+), <4+ ( (**'+/41 5&**& -1.1;(*+), &*5
)'0<4& -&0 =')/.32&0 (==('(+00&,* 4,& 17(.4(*+), -& . &88+5(5+*1 -4 0&'7+5& =(9& =&4*
B*'& &,*'&='+0&
& 2B2& =)4' 17(.4&' . &88+5+&,5& *&5:,+<4& -& .( 8),5*+), =(9& +. 5),7+&,*
-& 5),0+-1'&' -&0 +,-+5(*&4'0 2&**(,* &, 17+-&,5& .&0 &''&4'0 .&0 '&*('-0 &* .&0 (,)2(.+&0
-+7&'0&0
&0 '104.*(*0 )/0&'710 =&47&,* (.)'0 5),-4+'& @ '&2&**'& &, 5(40& . )';(,+0(*+), -4
0&'7+5& =(9& 0&0 )/I&5*+80 &* @ =')=)0&' (.)'0 -&0 '&5)22(,-(*+),0

! %'

& -+(;,)0*+5 -&0 =')/.32&0 17&,*4&..&2&,* '&,5),*'10 -&7'(+* 0 (55)2=(;,&' - 4,&


(=='15+(*+), -&0 '+0<4&0 <4& . &,*'&='+0& &,5)4'* -& 5& 8(+* +,0+ .&0 '+0<4&0 -& 8'(4-&0 ,& 0),*
,+ .&0 =.40 +2=)'*(,*0 ,+ .&0 =.40 8'1<4&,*0 =(' '(==)'* @ 5&4C -40 @ 4,& ;&0*+), +,&88+5(5&
(4*'&0 '+0<4&0 =&47&,* 0& 2(,+8&0*&' 0)40 8)'2& - &''&4'0 .+1&0 @ 4,& (/0&,5& -& 5),*'D.&0
(-1<4(*0 <4+ @ .&4' *)4' =&47&,* &,*'(E,&' -&0 04'5)6*0 -&0 04' )4 0)40 &88&5*+80 -(,0 .&
0&'7+5& =(9& &*5 *)40 5&0 '+0<4&0 -&7'(+&,* B*'& 17(.410 &* <4(,*+8+10
(4-+* -& .( =(9& =&'2&* 1;(.&2&,* -& I4;&' -& . &88+5(5+*1 -4 090*32& - +,8)'2(*+),
-& .( 7(.+-(*+), -&0 /(0&0 -& -),,1&0 4*+.+01&0 -& . &C+0*&,5& -& . (==.+5(*+), &* -&
. (-1<4(*+), -&0 090*32&0 -& 5),*'D.& &, 7+;4&4'
&0 '&5)22(,-(*+),0 -15)4.&'),* .);+<4&2&,* -&0 5),0*(*0 '1(.+010 &, *&,(,* 5)2=*&
@ .( 8)+0 -&0 5)6*0 -& 2+0& &, O47'& -& .( <4(.+8+5(*+), -&0 =&'0),,&.0 &, =.(5& &* -&0 '+0<4&0
&,5)4'40 . 8(4* 1;(.&2&,* ='&,-'& &, 5),0+-1'(*+), .& 'D.& -& .( 8),5*+), =(9& -(,0
. &,*'&='+0& &* 0& -&2(,-&' 0+ &..& &0* 5),K4& 5)22& 4, )4*+. -& ;&0*+), )4 0+ &..& &0* .+2+*1& @
.( 0&4.& '124,1'(*+), -4 =&'0),,&. -(,0 .& ='&2+&' 5(0 .&0 -)542&,*0 0&'7(,* @ . 1.(/)'(*+),
-& .( =(9& ,& 0),* 4*+.+010 <4& =)4' 5&..&0>5+ &* .( 8),5*+), =(9& , &0* (.)'0 =(0 +,*1;'1& -(,0 .(
;&0*+), -& . &,*'&='+0& 5& <4+ =&4* =)0&' (.)'0 .( <4&0*+), -& . &88+5(5+*1 -& .( ;&0*+), -& .(
'124,1'(*+),

' &

, (4-+* -& .( '124,1'(*+), -&7'(+* .);+<4&2&,* -1/4*&' =(' 4,& (,(.90& -&0 )/I&5*+80
=)4' 71'+8+&' .&4' 5):1'&,5& &* .&4' '1(.+0(*+), (,0 5&'*(+,0 (4-+*0 5&=&,-(,* 4,& -12('5:&
+,7&'0& ( 1*1 04+7+& 4, 5),0*(* -&0 17).4*+),0 -&0 -+7&'0 1.12&,*0 -& .( 2(00& 0(.('+(.& (
- (/)'- 1*1 '1(.+01 04+7+ - 4,& (,(.90& -&0 )/I&5*+80 &* -&0 =).+*+<4&0 -& '124,1'(*+),
, 8(+* *)4* -1=&,- -& .( -&2(,-& +,+*+(.& 8)'24.1& =(' .( -+'&5*+), -(,0
5&'*(+,0 5(0 4,& J-1'+7&M +2=)'*(,*& -& .( 2(00& 0(.('+(.& 5),-4+* @ &, 1*4-+&' . 17).4*+), =)4'
2&**'& &, 17+-&,5& .&0 5(40&0 )4 .&0 8(5*&4'0 .&0 =.40 0+;,+8+5(*+80 &* (/)4*+' &,*'& (4*'&0 @ -&0
'&5)22(,-(*+),0 @ 4, *(/.&(4 -& /)'- =&'2&**(,* -& 04+7'& .&0 8(5*&4'0 .&0 =.40 -1*&'2+,(,*0
-&0 7('+(*+),0 &* -& .&0 ='17)+' &.( &,*'(E,& 4,& 01'+& -& <4&0*+),0 04' .( =&'*+,&,5& -&0
)/I&5*+80 &* -&0 =).+*+<4&0 (-)=*1&0 ,), 0&4.&2&,* &, 2(*+3'& -& '124,1'(*+), 2(+0 -(,0 .(
8),5*+), =&'0),,&. *)4*& &,*+3'&
, (4-+* -& .( '124,1'(*+), '&5)47'& -& 24.*+=.&0 -)2(+,&0 5)22& .&0 0(.(+'&0 .&0
5:(';&0 .&0 (7(,*(;&0 0)5+(4C

/
( '124,1'(*+), *'(-4+* &, *&'2&0 2),1*(+'&0 .&0 5),01<4&,5&0 -& ='&0<4& *)4*&0 .&0
-15+0+),0 ='+0&0 -(,0 .( 8),5*+), =&'0),,&. 2(+0 5),0*+*4& &, 2B2& *&2=0 4, 1.12&,*
8),-(2&,*(. -& 5&..&>5+ . &0* -),5 +2=)'*(,* -& 5),,(E*'& .&0 =).+*+<4&0 -& '124,1'(*+), -&
. &,*'&='+0& 5& <4+ 04==)0& . &C+0*&,5& - )/I&5*+80 5):1'&,*0 5.(+'0 &* (55&=*10 &88+5(5+*1
- 4,& =).+*+<4& -& .( '124,1'(*+), -1=&,- &,*'& (4*'&0 -& . (-1<4(*+), -&0 )/I&5*+80 -&
. &,*'&='+0& (4C (**&,*&0 -&0 0(.('+10 &* -& .( '1(.+0(*+), -& 5&0 )/I&5*+80
, 2B2& *&2=0 4,& =).+*+<4& -& .( '124,1'(*+), -)+* 0 (==49&' 04' 4, 090*32& -&
5),*'D.& 8+(/.& <4+ =&'2&* -& 5)2=('&' .&0 '104.*(*0 )/*&,40 (4C ='17+0+),0 8)'2(.+01&0 0)40
8)'2& - )/I&5*+80 &* -& I4;&' (+,0+ . &88+5(5+*1 -& .( ;&0*+), -& .( '124,1'(*+), '30 0)47&,*
.( '124,1'(*+), &0* (-2+,+0*'1& F&* ,), =(0 ;1'1&G -& *&..& 0)'*& <4 &..& &0* ,), 2)*+7(,*& .&0
0(.('+10 ,& =&'K)+7&,* =.40 '1&..&2&,* .( .+(+0), &,*'& .&4' 0(.(+'& &* .&4' =&'8)'2(,5&
( '124,1'(*+), ,& 0(4'(+* B*'& 5),K4& 5)22& 4,& 0+2=.& *'(,0(5*+), 15),)2+<4&
&,*'& . &,*'&='+0& =(9(,* 4, 8(5*&4' -& =')-45*+), &* .&0 0(.('+10 8)4',+00(,* .& *'(7(+. ..&
+2=.+<4& =)4' 5&0 -&',+&'0 .( 0(*+08(5*+), - 4, 5&'*(+, ,)2/'& -& /&0)+,0 <4+ 7('+&,* &,
8),5*+), -& .&4'0 5('(5*1'+0*+<4&0 +,-+7+-4&..&0 &* -& 5& 8(+* 7( -1*&'2+,&' 4,& =('*+& -& .&4'
5)2=)'*&2&,* ( '124,1'(*+), ( (+,0+ 4, (0=&5* =095:).);+<4& <4+ 0& '&*')47& ,)*(22&,*
-(,0 . (**(5:&2&,* -&0 0(.('+10 @ .( ,)*+), - 1<4+*1 , )4*'& .( '124,1'(*+), '&7B* 4,
5('(5*3'& J=).+*+<4&M 5(' &..& &0* 4, &,I&4 -& .( ,1;)5+(*+), 5)..&5*+7& &,*'& . &2=.)9&4' &* .&0
=('*&,(+'&0 0)5+(4C
( =).+*+<4& 0(.('+(.& ,& 5),5&',& -),5 =(0 0&4.&2&,* . &,5(-'&2&,* -&0 -1=&,0&0 -&
=&'0),,&. 5)2=*& *&,4 -& .( 5(=(5+*1 -& =(9&' -& . &,*'&='+0& 2(+0 -18+,+* 1;(.&2&,* 5)22&,*
.&0 '&0=),0(/+.+*10 - 4, 0(.('+1 &* 0( =&'8)'2(,5& -)+7&,* 0& *'(-4+'& -(,0 0( '124,1'(*+),
( ='10&,5& -& ,)2/'&4C )/I&5*+80 (00+;,10 @ .( =).+*+<4& -& '124,1'(*+),
0 (55)2=(;,& 0)47&,* -& . (/0&,5& -& 5'+*3'&0 5.(+'0 (-)=*10 =)4' I4;&' -& 0), &88+5(5+*1 ")4'
. (=='15+&' +. &0* -),5 ,15&00(+'& - &C(2+,&' .( 5):1'&,5& -&0 )/I&5*+80 .&0 5'+*3'&0 <4+ .&0
0)40>*&,-&,* - (=='15+&' .&0 5),*'(+,*&0 <4+ =30&,* 04' .( ;&0*+), -& .( '124,1'(*+), &* &,8+,
- (,(.90&' &, *&'2&0 - &88+5(5+*1 .&0 '104.*(*0 )/*&,40

) * '
& 24.*+=.&0 )/I&5*+80 =&47&,* B*'& (00+;,10 @ .( '124,1'(*+), &.), .(
;&0*+), -&0 '124,1'(*+),0 -&7'(+* (7)+' 5+,< )/I&5*+80 8),-(2&,*(4C
• &8.1*&' .( =:+.)0)=:+& -& /(0& -4 2(,(;&2&,* N
• (+,*&,+' 4,& :+1'('5:+& '(*+),,&..& &,*'& .&0 =)0*&0 N
• 21.+)'&' . 1<4+*1 +,*&',& N
• "&'2&**'& @ . &,*'&='+0& -& 5),0&'7&' 4,& =)0+*+), 5),54''&,*+&..& 04' .& 2('5:1 -4
*'(7(+. N
• 7)+' 4, &,0&2/.& 5):1'&,* -& =).+*+<4&0 0(.('+(.&0 &* -& 090*32&0 -& 5),*'D.& N
")4' .&0 )/I&5*+80 +2=.+5+*&0 )4 &C=.+5+*&0 -&0 )';(,+0(*+),0 5),5&',(,*
.( '124,1'(*+), =&47&,* B*'&
• **+'&' -&0 +,-+7+-40 &, <4(.+*1 &* &, ,)2/'& 0488+0(,* =)4' 0(*+08(+'& (4C )/I&5*+80 -&
'&00)4'5&0 :42(+,&0 N
• /*&,+' -&0 ,+7&(4C -& =&'8)'2(,5& &, 2(*+3'& -& <4(.+*1 &* -& <4(,*+*1 N
• "'17&,+' 4, *(4C - (/0&,*1+02& &* -& *4',>)7&' ,), -10+'1 &* 5)6*&4C N
• (+,*&,+' 4, -&;'1 (-1<4(* -& 0(*+08(5*+), -&0 +,-+7+-40 @ . 1;('- -& .&4' 0(.(+'&
&0 )/I&5*+80 0),* 0)40>*&,-40 =(' 4, 5&'*(+, ,)2/'& -& 5'+*3'&0 *&.0 <4& . 1<4+*1
&C*&',& . 1<4+*1 +,*&',& .& 5),*'D.& .& 5('(5*3'& 0*+24.(,* .( 5.('*1 -4 090*32& -&
'124,1'(*+), .( 0154'+*1 )88&'*& &*5
1<4+*1 &C*&',& &0* I4;1& =(' 5)2=('(+0), (7&5 .&0 *(4C &, 7+;4&4' 04' .& 2('5:1 -4
*'(7(+. =)4' .&0 <4(.+8+5(*+),0 7+01&0 5& <4+ 04==)0& .( '1(.+0(*+), - &,<4B*&0 0(.('+(.&0 -),*
.&0 '104.*(*0 0),* (,(.9010 -& 8(K), @ 17+*&' -&0 /+(+0 ,), -10+'10
1<4+*1 +,*&',& 0& *'(-4+* =(' . &C+0*&,5& - 4,& :+1'('5:+& -&0 0(.(+'&0 .( =.40
'(*+),,&..& =)00+/.& &,*'& .&0 =)0*&0 (+,0+ <4& .( ='+0& &, 5)2=*& )/I&5*+7& -&0 =&'8)'2(,5&0
-&0 +,-+7+-40 =)4' -&0 (4;2&,*(*+),0 +,-+7+-4&..&0 &.( &0* .+1 (4 5('(5*3'& 0*+24.(,* -& .(
'124,1'(*+), 8),5*+), -&0 2),*(,*0 &* -&0 8)'2&0 -1*&'2+,1&0 =)4' .&0 (4;2&,*(*+),0 (4
21'+*& &* =)4' .&0 =')2)*+),0 ( =),-1'(*+), -&0 -+881'&,*0 )/I&5*+80 -& .( =).+*+<4& 0(.('+(.&
*'(-4+* .( =:+.)0)=:+& ;1,1'(.& -4 2(,(;&2&,*
, ='(*+5+&, 5)22& ( =4 (.)'0 -+0*+,;4&' *')+0 5(*1;)'+&0
- &,*'&='+0&0 0&.), .&0 )/I&5*+80 =)4'04+7+0 (,0 .( ='&2+3'& 5(*1;)'+& 0),* '(,;1&0 5&..&0 <4+
(-)=*&,* -&0 )/I&5*+80 =4'&2&,* -18&,0+80 &* 7+0&,* @ 17+*&' *)4* &,,4+ 0+ 4, =')/.32& 0(.('+(.
04'7+&,* )4 &0* &, =(00& -& 0& =')-4+'& . &,*'&='+0& (-)=*& (.)'0 4,& *&5:,+<4& =)4' . 17+*&' )4
.& '10)4-'& +,0+ =)4' '&0*&' 5)2=1*+*+8 04' .& 2('5:1 -4 *'(7(+. 0+ .&0 (4*'&0 8+'2&0 (55)'-&,*
-&0 ='+2&0 @ .&4' =&'0),,&. . &,*'&='+0& &, 8&'( (4*(,* ( -&4C+32& 5(*1;)'+& '&8.3*& 4,&
(**+*4-& =.40 (5*+7& .&0 =).+*+<4&0 0(.('+(.&0 -)+7&,* (.)'0 &,*'(E,&' 4,& 5),*'+/4*+), @ .(
'1(.+0(*+), -&0 )/I&5*+80 -& . &,*'&='+0& "(' &C&2=.& .& 090*32& -& ='+2&0 (-)=*1 =)4' '&0*&'
5)2=1*+*+8 =&4* B*'& 0*'45*4'1 -& *&..& 0)'*& <4& 5&..&0>5+ 0)+&,* 2)-4.1&0 &, 8),5*+), -& .(
=&'8)'2(,5& (8+, -& 8)4',+' 4, 0*+24.(,* 8+,(,5+&' =)4' (**&+,-'& .&0 )/I&5*+80 ,8+, .&0
&,*'&='+0&0 -& .( *')+0+32& 5(*1;)'+& +,*3;'&,* .&0 )/I&5*+80 0(.('+(4C @ 5&4C -&0 (4*'&0
-)2(+,&0 &* @ .&4' 0*'(*1;+& ;1,1'(.& (+,0+ 0& '1(.+0& 4,& 5):1'&,5& %(;& -& . &88+5(5+*1 &* -4
-17&.)==&2&,* -& . )';(,+0(*+),
&=&,-(,* . &88+5(5+*1 - 4,& =).+*+<4& -& '124,1'(*+), ,& 0&'( (**&+,*& <4& 0+
. (-1<4(*+), &,*'& .&0 )/I&5*+80 0(.('+(4C &* .&0 (**&,*&0 -10 0(.('+10 &0* (400+ )/*&,4&
&0 0(.('+10 I4;&'),* .&4' '124,1'(*+), (55&=*(/.& &* 1<4+*(/.& &, 8),5*+), -& 5'+*3'&0
5)22& . 1<4+*1 &C*&',& &* +,*&',& .& 5('(5*3'& 0*+24.(,* .( 0154'+*1 5&* 1;('- +. 5),7+&,* -&
,& =('.&' <4& -& '124,1'(*+), -+'&5*& &* ,), - (7(,*(;&0 0)5+(4C -),* .& 5('(5*3'& 0*+24.(,* (
1*1 &0*+21 ='(*+<4&2&,* ,4. &* 5&.( - (4*(,* =.40 <4& .( 2(I)'+*1 -&0 0(.('+10 , &, ),* =(0 4,&
5),,(+00(,5& &C(5*& &* , &, '&5),,(+00&,* =(0 .( =&'*+,&,5& "'(*+<4&2&,* - (+..&4'0 *'30 =&4
- &,<4B*&0 0),* '1(.+01&0 (4='30 -4 =&'0),,&. =)4' 5),,(E*'& 0&0 ='181'&,5&0 )' 5&..&0>5+
17).4&,* &, 8),5*+), -&0 /&0)+,0 <4+ 0),* &4C>2B2&0 -1=&,-(,*0 -& 5('(5*1'+0*+<4&0 5)22&
. A;& .& 0*(*4* .&0 '&0=),0(/+.+*10 8(2+.+(.&0 .( =')*&5*+), -),* /1,18+5+& .& 5),I)+,* . A;& -&0
&,8(,*0 &*5
&0 0(.('+10 '&5:&'5:&,* . 1<4+*1 +,*&',& <4 +.0 (=='15+&,* 2B2& - 4,& 8(K),
+2=('8(+*& &, 8),5*+), -& .( 0+*4(*+), 8+,(,5+3'& -& . &,*'&='+0& N -& .( 7(.&4' -& .&4' =)0*& N
-& .&4' =&'8)'2(,5& 5)2=('1& @ 5&..& -& .&4' 5)..3;4& )554=(,* -&0 =)0*&0 I4;1&0 1<4+7(.&,*0
&* (9(,* 4,& 8)'2(*+), &* 4,& &C=1'+&,5& (,(.);4&0 N -&0 =)00+/+.+*10 -& =')2)*+), N -&0
=).+*+<4&0 -& '&5'4*&2&,* F'&5)4'0 (4 '&5'4*&2&,* &C*&',& @ *)40 .&0 15:&.),0 )4 (4 =.40 /(0
,+7&(4 04+7+ - 4,& =')2)*+), +,*&',& 04+7(,* (+,0+ .& 2)47&2&,* - 4, 154'&4+. ;'+2=(,* @
. (,5+&,,&*1G ( =&'5&=*+), -& . 1<4+*1 +,*&',& &0* 1;(.&2&,* +,8.4&,51& 5:&W .& 0(.('+1 =(' 4,
5&'*(+, ,)2/'& -& 8(5*&4'0 *&.0 <4& .( =&'5&=*+), <4 ( .& 0(.('+1 -& 0), 0(.(+'& =(001 -& 0&0
5),*'+/4*+),0 @ . )';(,+0(*+), -&0 &C+;&,5&0 -& 0), *'(7(+. -& 0&0 /&0)+,0 8+,(,5+&'0 &* -&0
-+7&'0 (7(,*(;&0 0)5+(4C '&K40 <4+ 7),* +,8.4&,5&' 0&0 =&'5&=*+),0 -4 2),*(,* -4 0(.(+'& '&K4
&* -& 5&.4+ <4+ -&7'(+* . B*'& 0&.), .4+ )4* 5&.( &0* 21-+(*+01 =(' .( 5),,(+00(,5&
<4 ),* .&0 0(.('+10 -& .( 0*'45*4'& 0(.('+(.& -& . 17(.4(*+), -& .&4' =&'8)'2(,5& &* -& .&4'
5)2='1:&,0+), -&0 5'+*3'&0 4*+.+010 =(' . &,*'&='+0& =)4' -1*&'2+,&' .&0 0(.(+'&0 -& /(0& &* .&0
(4;2&,*(*+),0 -& 0(.(+'&
& 5('(5*3'& 0*+24.(,* -& .( '124,1'(*+), &0* &C=.+<41 0&.), .( *:1)'+& -& =('
4, &,0&2/.& -& =&'5&=*+),0 &0 ='&2+3'&0 =)'*&,* 04' .( '&.(*+), &,*'& .& -&;'1 - &88)'* @
-1=.)9&' =)4' (**&+,-'& 4, 5&'*(+, '104.*(* <4+ &0* 8),5*+), -4 -&;'1 - &0*+2& -& 0)+ &* -&
. &C=1'+&,5& =(001& 8(5& @ 4,& 0+*4(*+), -& *'(7(+. 0+2+.(+'& &0 0&5),-&0 ),* *'(+* (4C .+&,0
&C+0*(,* &,*'& .&0 -+881'&,*0 ,+7&(4C -& =&'8)'2(,5&0 =)00+/.&0 &* .&0 (7(,*(;&0 <4 +.0
=')54'&,* ,8+, .& 0(.('+1 (55)'-& -&0 7(.&4'0 -+881'&,*&0 (4C '104.*(*0 5&4C>5+ 0),* &0*+210
- (4*(,* =.40 +2=)'*(,*0 <4 +.0 0(*+08),* =.40 -& /&0)+,0 &.( -1=&,- -),5 -& .( ,(*4'& -&0
/&0)+,0 &* -& .&4' -&;'1 -& 0(*+08(5*+), =(' . (7(,*(;& &0=1'1
, 5),01<4&,5& =.40 .& 0(.('+1 &0*+2& <4 +. &0* 5(=(/.& -& 8(+'& 5& <4+ .4+ &0* -&2(,-1
=.40 +. 2(,+8&0*&'( - &88)'*0 F5 &0*>@>-+'& =.40 0( 2)*+7(*+), 0&'( 1.&71& =)4' 8(+'& 5& <4 ),
(**&,- -& .4+G &.( , +2=.+<4& =(0 =)4' (4*(,* <4& 0&0 &88)'*0 0&'),* 5)4'),,10 -& 045530
5&.4+>5+ -1=&,- -& 0&0 (=*+*4-&0 &* -& .( 5),,(+00(,5& <4 +. ( -& 0), 'D.& &* -&0 2)9&,0 2+0 @
0( -+0=)0+*+), =)4' &88&5*4&' 0), *'(7(+.
&**& *:1)'+& 2),*'& <4& .& 0(.(+'& )4 *)4* 1.12&,* -& '15)2=&,0& ( 4, &88&* 2)*+7(,*
04' .& -&;'1 - &88)'* -(,0 .( 2&04'& )H +. &0* '&.+1 @ .( =&'8)'2(,5& &* )H +. &0* =&'K4 5)22&
+2=)'*(,* =(' .& 0(.('+1
( 5)2='1:&,0+), -&0 (**&,*&0 -&0 0(.('+10 ,& 0488+* =(0 . (,(.90& -&0 =).+*+<4&0
0(.('+(.&0 +2=.+<4& (400+ 5&..& -&0 5),*'(+,*&0 <4+ =30&,* 04' &..&0 &* -4 -&;'1 -& .+/&'*1 -),*
-+0=)0& . &,*'&='+0& =)4' -1*&'2+,&' 0&0 )/I&5*+80 &, 2(*+3'& 0(.('+(.&

+' * 0
& =)+-0 -& 5),*'(+,*&0 &C*&',&0 (==('&22&,* 4,+8)'2&0 5)22& .( .1;+0.(*+), ,&
0 &C&'5&'( =(0 -& .( 2B2& 8(K), 04+7(,* .&0 5('(5*1'+0*+<4&0 &* .( 0+*4(*+), -& . &,*'&='+0& ,
&88&* 4,& '&7(.)'+0(*+), +2=)'*(,*& -4 (88&5*&'( =.40 -+'&5*&2&,* @ 5)4'* *&'2& 4,&
&,*'&='+0& (9(,* 4,& =')=)'*+), +2=)'*(,*& -& 02+5('- -(,0 0), =&'0),,&. <4& 5&..& 5)2=*(,*
4, =)4'5&,*(;& 1.&71 - )47'+&'0 <4(.+8+10
( 5),I),5*4'& 15),)2+<4& =&4* =')7)<4&' 4, -+2+,4*+), -&0 :&4'&0 04==.12&,*(+'&0
<4+ =)4''( &,*'(E,&' -&0 '&7&,-+5(*+),0 04' .& *(4C -& /(0& -4 8(+* <4& .&0 0(.('+10 ,& =&47&,*
=(0 (4;2&,*&' .&4' '&7&,4 (4*'&2&,*
& 2B2& .( 5(=(5+*1 -& =(9&' 0&0 (4;2&,*(*+),0 -& 0(.(+'& &0* *'30
+,1;(.&2&,* '1=('*+& 0&.), .&0 &,*'&='+0&0 . (4-+*&4' &C(2+,&'( @ 5& 04I&* .( =('* -&0 0(.(+'&0
-(,0 .& 5:+88'& - (88(+'&0 )4 -(,0 .( 7(.&4' (I)4*1&
)4*&0 5&0 )/0&'7(*+),0 0&'),* 4*+.&0 =)4' -1*&'2+,&' .&0 2(';&0 -& .+/&'*1 -&
. &,*'&='+0& &* .&0 '&5)22(,-(*+),0 17&,*4&..&0 8(+*&0 @ =('*+' - 4,& (,(.90& -&0 =).+*+<4&0
0(.('+(.&0

,' * 0
, 090*32& -& '124,1'(*+), 5)2='&,(,* -& ,)2/'&40&0 -+881'&,5+(*+),0 8),-1&0 04' .&
0*(*4* &* .& ,+7&(4 :+1'('5:+<4& , &0* 0(,0 -)4*& =(0 5)2=(*+/.& (7&5 .& -10+' - 4,& 0*'45*4'&
-15&,*'(.+01& . +,7&'0& +. 9 (4'( 5):1'&,5& 0+ -(,0 4,& 0*'45*4'& =('*+5+=(*+7& &*
-15&,*'(.+01& ,& 0& 5),0*(*&,* =(0 -&0 -+881'&,5&0 -& 0*(*4*0 +2=)'*(,*&0 2(+0 (4 5),*'(+'& 4,&
=('* '&.(*+7&2&,* 1.&71& -& ='+2&0 )4 /),+0 &0 0(.(+'&0 1.&710 (55)'-10 @ . &2/(45:& ,& 0),*
=(0 (==('&22&,* 5):1'&,*0 F0)40 '10&'7& -& *&,0+),0 04' .& 2('5:1 -4 *'(7(+.G (7&5 -&0
)/I&5*+80 -& =')2)*+), '(=+-& ,+ (7&5 .( 7).),*1 (88+5:1& -& 8(7)'+0&' . +,,)7(*+), &* .&
-17&.)==&2&,* , &88&* 5&**& 0+*4(*+), &,*'(E,& 4, /.)5(;& -& =')2)*+), . (/0&,5& -&
=)00+/+.+*1 - (55)'-&' -&0 (4;2&,*(*+),0 (4 21'+*& 0488+0(,*&0 &* 17&,*4&..&2&,* -&0
04'&88&5*+80
& 2B2& . (55&,* 2+0 04' .( =');'&00+), @ . (,5+&,,&*1 5),*'&-+* . )/I&5*+8 -&
=')2)*+), (4 21'+*& &* - &,5)4'(;&2&,* -& .( =&'8)'2(,5& ,8+, -&0 ,), 5):1'&,5&0 =&47&,*
0& 2(,+8&0*&' &,*'& .( 0*'(*1;+& ;.)/(.& -& . &,*'&='+0& &* .( =).+*+<4& -& '124,1'(*+), (-)=*1&
,& 8)+0 1*(/.+ .& 5),0*(* -&0 5):1'&,5&0 F&* -&0 ,), 5):1'&,5&0G . (4-+*&4' =)4''(
-+(;,)0*+<4&' .&0 5(40&0 -&0 =')/.32&0 )/0&'710 (/0&,5& -& 5),*'D.& N ,),>(==.+5(*+), -&
=')51-4'&0 N (/0&,5& -& ='+0& &, 5),0+-1'(*+), -&0 5),*'(+,*&0 +,*&',&0 &* &C*&',&0 N
215),,(+00(,5& =(' .( -+'&5*+), -&0 (**&,*&0 -&0 0(.('+10 N (/0&,5& -& -1*&5*+), -&0 =)*&,*+&.0 N
,), -18+,+*+), -&0 '&0=),0(/+.+*10 N 5&,*'(.+0(*+), -&0 -15+0+),0 ,), 5)2=(*+/.&0 (7&5 .&0
=).+*+<4&0 04+7+&0 ,8+, .& 8(+* <4& .( -+'&5*+), ,& 0)+* =(0 *)4I)4'0 5),05+&,*& -& . +2=)'*(,5&
2)*+7(,*& -& .( '124,1'(*+), &* -&0 .+2+*&0 -&0 -+881'&,*&0 =).+*+<4&0 0(.('+(.&0 =)00+/.&0 &0*
4,& -&0 5(40&0 .& =.40 0)47&,* '&,5),*'1&0
(,0 5& *9=& - (4-+* .( ='+,5+=(.& '&5)22(,-(*+), &0* ;1,1'(.&2&,* - &,*(2&' 4,
=')5&0040 -& '18.&C+), -& .( -+'&5*+), 04' .( -18+,+*+), &* . +,*1;'(*+), -&0 )/I&5*+80 0(.('+(4C -&
. &,*'&='+0& .)'0<4 +.0 ,& 0),* ,+ 8)'2(.+010 ,+ 5.(+'0
)'0<4& . (4-+*&4' ( =')51-1 @ . (,(.90& -&0 )/I&5*+80 &* -&0 =).+*+<4&0 -&
'124,1'(*+), +. =)4''( 71'+8+&' 0+ .&0 '104.*(*0 5)''&0=),-&,* )4 ,), (4C +,*&,*+),0 =(' 4, (4-+*
-& .( 2(00& 0(.('+(.&

, (4-+* -& .( 2(00& 0(.('+(.& &0* -15.&,5:1 =)4' -+881'&,*&0 '(+0),0 .)'0<4& .&0 8'(+0 -&
=&'0),,&. 5),0*+*4&,* 4,& =('* &0*+21& *')= +2=)'*(,*& -&0 5:(';&0 -& . &,*'&='+0& )4 -&
. 1*(/.+00&2&,* N .)'0<4& .&0 -1=&,0&0 0(.('+(.&0 0&2/.&,* 04+7'& 4,& =');'&00+), &0*+21&
(,)'2(.&2&,* '(=+-& =(' '(==)'* (4C )/I&5*+80 F), =('.&'( (.)'0 -& -1'+7&G &* <4& . ), -10+'& &,
5),,(E*'& .&0 5(40&0 (8+, -& 2+&4C .&0 2(E*'+0&' N .)'0<4 ), &,*&,- 2+&4C ='1=('&' 4,&
,1;)5+(*+), 5)..&5*+7& N )4 &,8+, .)'0<4& . ), 7&4* (21.+)'&' -&0 ='17+0+),0

) *0
( ,)*+), -& 2(00& 0(.('+(.& ( 1*1 &, '(,5& =)=4.('+01& @ .( 04+*& -& .( =4/.+5(*+), -4
'(==)'* 5),5&',(,* . (21.+)'(*+), -&0 =')51-4'&0 -& -+05400+), 0(.('+(.& &* -& 5),5+.+(*+), -(,0
.&0 &,*'&='+0&0 =4/.+<4&0 -+*&0 @ 0*(*4* +&, <4& .( =')51-4'& (+* 1*1 (/(,-),,1& &, I4+, ?$
.( 21*:)-).);+& =)4' 5),0*(*&' .&0 17).4*+),0 -&0 2(00&0 0(.('+(.&0 &0* *)4I)4'0 4*+.+01& -(,0
.&0 &,*'&='+0&0 -4 0&5*&4' =4/.+5 &* ,(*+),(.+01

+' * !

• '+ (4-$'1)+ , 6:#/1$%#&


17).4*+), -& .( 2(00& 0(.('+(.& -1=&,- - 4, 5&'*(+, ,)2/'& -& 8(5*&4'0 -),*
. 17).4*+), &0* 0)+* -1=&,-(,*& - 1.12&,*0 &C*&',&0 @ . &,*'&='+0& F7('+(*+), -4 2),*(,* -&0
5:(';&0 7('+(*+), -4 ,)2/'& -& I)4'0 *'(7(+..10 (4;2&,*(*+), -4 =.(8),- -& 0154'+*1 0)5+(.&
(55')+00&2&,* -&0 5)*+0(*+),0 =)4' (55+-&,* -4 *'(7(+. 7('+(*+), -&0 *&2=0 -& *'(7(+.G 0)+*
8),5*+), -& -15+0+),0 =')='&0 @ . &,*'&='+0& F<4)+<4& 5&'*(+,0 1.12&,*0 0)+&,* 0)47&,* ,1;)5+10
(7&5 .&0 09,-+5(*0G 5)22& .&0 5:(';&0 .&0 (4;2&,*(*+),0 ;1,1'(.&0 &* +,-+7+-4&..&0 .&0 :&4'&0
04==.12&,*(+'&0 .( 8)'2(*+), .( 2)-+8+5(*+), -& . )';(,+0(*+), -4 *'(7(+. .& '&5)4'0 @
. +,*1'+2 . (/0&,*1+02& F-6 ,)*(22&,* (4C 2(.(-+&0 &* (4C (/0&,5&0 -+7&'0&0G )4 .&0
(55+-&,*0

• '-7&%91'+ , 4&4/0+'
")4' 5(.54.&' .&0 +,5+-&,5&0 -&0 -+881'&,*0 8(5*&4'0 04' . 17).4*+), -& .( 2(00&
0(.('+(.& . (4-+*&4' -+0=)0& - 4, 5&'*(+, ,)2/'& - )4*+.0 - (,(.90& 4*+.+010 =(' <4&.<4&0
-+'&5*+),0 -4 =&'0),,&. =)4' .( ='17+0+), &* .& 5),*'D.& -),* 0&4.0 5&4C <4+ +,*1'&00&,* .&0
(4;2&,*(*+),0 ;1,1'(.&0 .&0 7('+(*+),0 - &88&5*+80 &* .&0 2)-+8+5(*+),0 -& 0*'45*4'& 0&'),*
&C=)010 +5+

&-%,'&-'+ ,'+ 418*'&$4$%#&+ 86&6)4/'+


"(' (4;2&,*(*+),0 ;1,1'(.&0 ), &,*&,- 5&..&0 <4+ ;1,1'(.&2&,* &, =)4'5&,*(;& 0)+*
2)-+8+&,* -& 8(K), 4,+8)'2& .&0 0(.(+'&0 -& .( *)*(.+*1 -4 =&'0),,&. 0)+* ,& 0 (==.+<4&,* <4 @
5&'*(+,&0 5(*1;)'+&0 -& 0(.('+10
&0 17).4*+),0 -& .( 2(00& 0(.('+(.& -4&0 @ 5& 8(5*&4' =&47&,* B*'& (,(.901&0 ;'A5& @ 5&
<4& . ), (==&..& . &88&* J,+7&(4M &* . &88&* J2(00&M

. 5),0+0*& @ 5)2=('&' .& 2),*(,* -&0 0(.(+'&0 &,*'& -&4C -(*&0 +,5+-&,5& =)4'
. (,,1& 5),0+-1'1& =&4* B*'& (,(.901& &, *&'2&0 (--+*+80 )4 24.*+=.+5(*+80 .& 5:)+C -1=&,-'( -&
.( =).+*+<4& (-)=*1& =(' . &,*'&='+0& (,0 .& ='&2+&' 5(0 <4+ &0* ;1,1'(.&2&,* 5&.4+ -&0
&,*'&='+0&0 =4/.+50 @ 0*(*4* (+,0+ <4& 5&.4+ -& .( ),5*+), "4/.+<4& .& *(4C 0 (I)4*& (4C
='151-&,*&0 (4;2&,*(*+),0 (55)'-1&0 -&=4+0 .& -1/4* -& . &C&'5+5& ), -+* <4& .& *(4C
&'
='151-&,* &0* =)'*1 (4 *(4C ,)47&(4 +,0+ 4, 0(.(+'& -& !! (4 I(,7+&' (4;2&,*1 -& T
&' &'
(4 817'+&' -&7+&,* ! + (4 )5*)/'& 4,& ,)47&..& (4;2&,*(*+), -& T ( .+&4 5&..&>
5+ 0 (==.+<4& 5)22& .( ='&2+3'& (4 ,+7&(4 -& 0(.(+'& -4 -15&2/'& -& . (,,1& ='151-&,*&
& *(4C (--+*+8 5)''&0=),-(,* &0* -& ! Q ! Y ! ! 0)+* T
+ .& *(4C &0* 24.*+=.+5(*+8 5& <4+ &0* .& 5(0 .& =.40 5)4'(,* -(,0 .&0 &,*'&='+0&0 .(
:(400& -& T (4 M )5*)/'& 0&'( 5(.54.1& 04' .( /(0& -4 0(.(+'& -& 0&=*&2/'& 0)+* !
! Y ! !? 0)+* !?T

&88&* 04' .( 2(00& 0(.('+(.& - 4,& (4;2&,*(*+), &0* 17+-&22&,* -+881'&,* 0&.), <4&
&' &' &'
5&..&>5+ ( .+&4 .& 817'+&' )4 .& )5*)/'& , &88&* 4,& (4;2&,*(*+), -& T (4 817'+&'
5)''&0=),- @ 4,& :(400& -& .( 2(00& 0(.('+(.& -&
&'
R YY T (.)'0 <4 4,& (4;2&,*(*+), -& T (4 )5*)/'& 1<4+7(4* @
R Y!? T
&88&* &, 2(00& - 4,& (4;2&,*(*+), *+&,* 5)2=*& -4 ,)2/'& -& 2)+0 &C(5*0 =&,-(,*
.&0<4&.0 5&**& -15+0+), (4'( &88&*
&88&* 2(00& *'(-4+* (+,0+ .&0 5),01<4&,5&0 -&0 (4;2&,*(*+),0 +,*&'7&,4&0
-(,0 . (,,1& 5),0+-1'1& 04' .( 2(00& 0(.('+(.& -& 5&**& 2B2& (,,1& ")4' 5(.54.&' . &88&*
2(00& -&4C 21*:)-&0 0),* -+0=),+/.&0 . 4,& 5),0+0*& @ 5(.54.&' .( 0)22& -&0 (4;2&,*(*+),0
;1,1'(.&0 24.*+=.+1& =(' .&0 (4;2&,*(*+),0 ='151-&,*&0 &* =),-1'1& =(' .& ,)2/'& -& 2)+0 04'
.&0<4&.0 &..&0 0 (==.+<4&,*
,& -&4C+32& 8(K), -& 5(.54.&' . &88&* 2(00& 5),0+0*& @ 8(+'& .& '(==)'* (00& -&
. (,,1& R (00& -& -15&2/'& -& . (,,1& Z

,' * ! %'

& 5),0*(* -&0 17).4*+),0 -& .( 2(00& 0(.('+(.& &* -&0 -+881'&,*0 1.12&,*0 <4+ .(
5)2=)0&,* =&'2&* -& 7)+' <4&.0 0),* .&0 =)0*&0 .&0 =.40 +2=)'*(,*0 &, 2(00& &* 5&4C -),*
. 17).4*+), ( 1*1 .( =.40 '(=+-& )4 <4+ ),* 04/+ -& 8)'*&0 7('+(*+),0 &* - &C(2+,&' 5&4C 04'
.&0<4&.0 4,& (5*+), -& . &,*'&='+0& &0* =)00+/.& 5&* 1;('- .( '15(=+*4.(*+), :+1'('5:+01& -&0
+,5+-&,5&0 -&0 -+881'&,*0 8(5*&4'0 <4+ +,8.4&,* 04' .( 2(00& 0(.('+(.& -),,&'( -&0 +,-+5(*+),0
4*+.&0 04' .&0 -+7&'0&0 *&,-(,5&0 )/0&'71&0 &* . 1*&,-4& -&0 2(';&0 -& 8.&C+/+.+*1 -),* -+0=)0&
. &,*'&='+0& ..& =&'2&* - +0).&' 5&4C <4+ ),* &4 .( =.40 8)'*& +,8.4&,5& 04' . 17).4*+), -& .(
2(00& 0(.('+(.& &**& '15(=+*4.(*+), 8)4',+'( 1;(.&2&,* 4,& /(0& =)4' .& -+(;,)0*+5 -&0 5(40&0
&* .&0 '&5)22(,-(*+),0
&0 5(40&0 -&0 17).4*+),0 I4;1&0 (,)'2(.&0 )4 &C5&00+7&0 -&0 -+881'&,*0 8(5*&4'0 (9(,*
4,& +,5+-&,5& 04' .&0 7('+(*+),0 -& .( 2(00& 0(.('+(.& =)4''),* B*'& -1*&5*1&0 ;'A5& @ 4, 5&'*(+,
,)2/'& - +,-+5(*&4'0 +-&,*+8+5(*+), -&0 5(40&0 (/)4*+'( ,(*4'&..&2&,* @ .( 8)'24.(*+), -&
'&5)22(,-(*+),0 =)4' 1.+2+,&' .&0 =')/.32&0 -15&.10
+,0+ .& 090*32& - +,8)'2(*+), 2+0 &, =.(5& =)4' ;1'&' .( 2(00& 0(.('+(.& &0* 0)47&,*
+,0488+0(,* ,), 8+(/.& &* 2B2& .)'0<4& -&0 -),,1&0 7(.+-1&0 0),* )/*&,4&0 &..&0 ,& 0),* =(0
*)4I)4'0 0488+0(22&,* &C=.)+*1&0 &0 '124,1'(*+),0 -& -+881'&,*&0 5(*1;)'+&0 F=&'0),,&.
=&'2(,&,* +,*1'+2(+'& 0)40>*'(+*(,*G =&47&,* B*'& 5(.54.1&0 @ =('*+' -& /(0&0 -+881'&,*&0
F:)'(+'& )4 2&,04&.G +,*&'-+0(,* ='(*+<4&2&,* *)4*& 5)2=('(+0), & 2B2& .( ,),
5),5)'-(,5& &,*'& .&0 5:+88'&0 8)4',+0 =(' -+881'&,*0 0&'7+5&0 '&,- -+88+5+.& .& 5),*'D.& -&0
17).4*+),0 -& .( 2(00& 0(.('+(.&
+,0+ -&7'),* B*'& ='15+010 .&0 'D.&0 '&0=&5*+80 -& .( -+'&5*+), -& .( :+1'('5:+& &* -&0
-+881'&,*0 0&'7+5&0 <4+ 0),* (400+ -&0 (5*&4'0 -(,0 .& =')5&0040 5)22& .( -+'&5*+), -4
=&'0),,&. .& 0&'7+5& =(+& .&0 =)+,*&(4C .& 5),*'D.& -& ;&0*+), . +,8)'2(*+<4& )4 .&0 09,-+5(*0
.0 &C&'5&,* &, &88&* 4,& +,8.4&,5& 04' .& ,+7&(4 -&0 -1=&,0&0 .& *9=& -& 5),*'D.& .( ='15+0+),
-&0 ='17+0+),0 . &,'&;+0*'&2&,* -&0 +,8)'2(*+),0 &4' (5*+), ,), 5))'-),,1&
'+0<4& - &,*'(E,&' -&0 +,5):1'&,5&0 -&0 '&-),-(,5&0 )4 -&0 (/0&,5&0 -& 5),*'D.& 0& *'(-4+0(,*
8+,(.&2&,* =(' -&0 5)6*0 +2=)'*(,*0 0)47&,* +;,)'10
.( 04+*& -&0 5),0*(*0 . (4-+*&4' =&4* B*'& (2&,1 @ 0& =&,5:&' 04' -&0 1.12&,*0
=('*+54.+&'0 -& .( '124,1'(*+), F:&4'&0 04==.12&,*(+'&0 5:(';&0 ,), )/.+;(*)+'&0
=('*+5+=(*+), &*5 G )4 &C(2+,&' <4&..& &0* =(' &C&2=.& .( 0*'45*4'& -&0 0(.(+'&0

/
(4-+* -& .( 0*'45*4'& 0(.('+(.& &0* . &C(2&, -& .( =&'*+,&,5& -&0 =).+*+<4&0 (-)=*1&0 &*
-& .&4' 5):1'&,5& (7&5 -&0 )/I&5*+80 <4& . &,*'&='+0& 0 (00+;,& &, 2(*+3'& -& '124,1'(*+), -&
;&0*+), -4 =&'0),,&. &* =.40 ;1,1'(.&2&,* -& 5)2=1*+*+7+*1
")4' 2&,&' @ /+&, 4, *&. (4-+* +. &0* ,15&00(+'& -& /+&, ='15+0&' .( ,)*+), -& 0*'45*4'&
0(.('+(.& &* 0&0 8),-&2&,*0 (7(,* -& . (,(.90&' &* -& -+(;,)0*+<4&' &,04+*& .&0 =')/.32&0
17&,*4&.0 =)4' (''+7&' &,8+, @ 4,& 01'+& -& '&5)22(,-(*+),0

) *0
( 0*'45*4'& 0(.('+(.& ,& 0(4'(+* B*'& 5),8),-4& (7&5 5&..& -& .( ,+(00& -&0 0(.(+'&0 =('
;'(,-&0 5(*1;)'+&0 F0(.(+'&0 -& /(0& ='+2&0 :&4'&0 04==.12&,*(+'&0 5:(';&0 &*5 G &..&
'&5)47'& .& 090*32& .+(,* .&0 -+881'&,*0 ,+7&(4C -& 0(.(+'&0 =(910 =(' . &,*'&='+0& ".40
='15+012&,* .( 0*'45*4'& 0(.('+(.& &0* . &,0&2/.& -&0 =.(;&0 -& 0(.(+'&0 -),* .( =');'&00+), *+&,*
5)2=*& -&0 15('*0 -& '124,1'(*+), &,*'& -&0 =)0*&0 -& ,+7&(4C -+881'&,*0 &* -),* . 1*&,-4& )4
.( -+0=&'0+), -(,0 5:(<4& 5.(00& =&'2&* -& *&,+' 5)2=*& -&0 -+881'&,5&0 +,-+7+-4&..&0 -&
=&'8)'2(,5& =(' -&0 (4;2&,*(*+),0 (4 21'+*&

+' * / !
( ='&2+3'& 1*(=& -& . (,(.90& 0)40 '10&'7& -& . )/*&,*+), -&0 -),,1&0 5),0+0*& @
'&='10&,*&' 0)40 8)'2& - 4,& 5)4'/& 0(.('+(.& .( -+0*'+/4*+), -&0 0(.(+'&0 *)4*&0 5(*1;)'+&0
5),8),-4&0 -4 =.40 /(0 (4 =.40 1.&71 &* 5& =)4' 5:(<4& =)0*& ( =&,*& -& .( -')+*& -& .(
5)4'/& )/0&'71& -),,& 4,& ='&2+3'& (==')C+2(*+), -& .( 0*'45*4'& 0(.('+(.& -& . &,*'&='+0&
-(,0 ( '1(.+*1 =.40+&4'0 5)4'/&0 0(.('+(.&0 5)&C+0*&,* 5)''&0=),-(,* @ -+881'&,*&0 =)=4.(*+),0
F=(' &C&2=.& )47'+&'0 (;&,*0 -& 2(E*'+0& 5(-'&0G +-&,*+8+1&0 =(' -&0 5:(,;&2&,*0 -& =&,*&
&0 ,+7&(4C -&0 0(.(+'&0 '1&.0 .&0 =.40 /(0 0),* ;1,1'(.&2&,* +,8.4&,510 =(' .(
.1;+0.(*+), &* .&0 5),7&,*+),0 5)..&5*+7&0 2(+0 (400+ =(' .&0 *(4C -4 2('5:1 -4 *'(7(+. &* 7),*
(+,0+ -1*&'2+,&' . 15:&..& 0(.('+(.& & ,)2/'&40&0 &,*'&='+0&0 4*+.+0&,* &, &88&* .&0 5)4'/&0
0(.('+(.&0 =)4' 5)2=('&' .&0 7(.&4'0 -&0 =)+,*0 2)9&,0 4 21-+(,0 -& =)0*&0 5.&80
(4C *(4C -4 2('5:1 &0 0(.(+'&0 .&0 =.40 1.&710 ,)*(22&,* 5&4C -& .( -+'&5*+), 7),* B*'&
/&(45)4= =.40 +,8.4&,510 =(' .( 54.*4'& -& . &,*'&='+0& .( 5(=(5+*1 -& =(9&' -& 5&..&>5+ .&0 *(4C
-&0 2('5:10 -4 *'(7(+. .&0 (4*'&0 1.12&,*0 -& .( '124,1'(*+), &* 04'*)4* .( =&'8)'2(,5& <4+
0&'( &00&,*+&..&2&,* -1*&'2+,1& =(' .&0 '104.*(*0 )/*&,40 04' .& 2('5:1 -4 =')-4+*

• &4/0+' ,' /4 5)#8)'++%#& ,'+ +4/4%)'+


'30 ;1,1'(.&2&,* .&0 &2=.)+0 0),* '&;')4=10 &, 5.(00& 0&.), .&0 '104.*(*0 -&
. 17(.4(*+), -&0 *A5:&0 &* -& . 1<4+7(.&,5& -&0 &C+;&,5&0 =)4' 5:(<4& =)0*& & ,)2/'& -&
5.(00&0 - &2=.)+ &0* 8),5*+), -4 ,)2/'& - &2=.)+0 -+881'&,*0 -& . 15('* &,*'& .& 0(.(+'&
2+,+242 &* 2(C+242 -(,0 . &,*'&='+0& -&0 )/I&5*+80 -&0 =).+*+<4&0 0(.('+(.&0 &* -&
=')2)*+),0 2(+0 1;(.&2&,* -&0 =&'5&=*+),0 -&0 0(.('+10 5),5&',(,* .&0 -+881'&,5&0 &,*'&
&2=.)+0
'' "
(4-+* -& .( 8)'2(*+), =&4* B*'& 5),K4 5)22& .& =').),;&2&,* -&0 5),5.40+),0 - 4,
='1>-+(;,)0*+5 (9(,* 2+0 &, 17+-&,5& <4& 5& -)2(+,& &0* .( ='+,5+=(.& 0)4'5& -&0 '+0<4&0
5),0*(*10 (4-+* =&4* B*'& 1;(.&2&,* -15.&,5:1 @ .( 04+*& - 4,& -&2(,-& &C='&00& -& .(
-+'&5*+), <4+ 71'+8+&' . &88+5(5+*1 -& .( 8)'2(*+), -+0=&,01& -(,0 . &,*'&='+0& N -(,0 5&'*(+,0
5(0 5&=&,-(,* .( 2+00+), =&4* B*'& '&0*'&+,*& @ . &C(2&, - 4, (0=&5* =('*+54.+&' 5)22&
. (4-+* -&0 =')51-4'&0 .( 71'+8+5(*+), -&0 5)2=*&0 )4 . 17(.4(*+), - 4, =');'(22&
+,5),71,+&,* -& 5&**& -&4C+32& -12('5:& '10+-& -(,0 .& 8(+* <4& .( -+'&5*+), 8(4*& 0)47&,*
- 4, -+(;,)0*+5 0488+0(,* , ( =4 =&'5&7)+' <4& .&0 =')/.32&0 .&0 =.40 (==('&,*0 &*
-15.&,5:&'( -& 5& 8(+* 4,& (5*+), =)47(,* .(+00&' -(,0 . )2/'& .&0 '+0<4&0 2(I&4'0
( -18+,+*+), -& .( 2+00+), 0&'( -),5 4,& 1*(=& +2=)'*(,*& =)4' . (4-+*&4' 5(' &..&
-1*&'2+,&'( &* 0( .),;4&4' &* .( 21*:)-).);+& 4*+.+01&
)/I&* -& . (4-+* 5)2=.&* -& .( 8)'2(*+), &0* -& -'&00&' 4, 5),0*(* -& -18+,+' .&0
=')/.32&0 17&,*4&.0 &* .&0 '+0<4&0 -(,0 5& -)2(+,& - &, -+(;,)0*+<4&' .&0 5(40&0 &* -&
8)'24.&' (4>74 -& 5&..&0>5+ -&0 '&5)22(,-(*+),0 - (5*+),

) *0
( 8)'2(*+), 5),5&',& *)4*& (5*+7+*1 <4+ &00(9& -1.+/1'12&,* - (21.+)'&' )4 -&
5)2=.1*&' .&0 5),,(+00(,5&0 (=*+*4-&0 &* (**+*4-&0 - 4,& =&'0),,& -(,0 0), *'(7(+. &..& 0&
-+881'&,5+& -& . 1-45(*+), F)4 ='&2+3'& 8)'2(*+),G <4+ 5),5&',& 04'*)4* .& -17&.)==&2&,*
=&'0),,&. &* . (5<4+0+*+), -& 5),,(+00(,5&0 &* 21*:)-).);+&0 -& /(0&
( 8)'2(*+), 5),0*+*4& 4,& (5*+7+*1 =('*+54.+3'& &, 5& 0&,0 <4 &..& 5),5&',& @ .( 8)+0 .&
0(.('+1 &* . &,*'&='+0& 0), 17(.4(*+), )/.+;1 @ *&,+' 5)2=*& @ .( 8)+0 -&0 '1(5*+),0 -&0 0(.('+10
&* -&0 )/I&5*+80 -& . &,*'&='+0& "(' (+..&4'0 .&0 -1=&,0&0 <4 &..& &,*'(E,& =)4' . &,*'&='+0&
(+,0+ <4& .&0 -+881'&,*&0 =')51-4'&0 @ 04+7'& 0),* 0)42+0&0 @ -&0 )/.+;(*+),0 <4+ .+2+*&,* &, 5&
-)2(+,& .( .+/&'*1 -& . &2=.)9&4' ,8+, .( 8)'2(*+), &0* 4, 5)6* &, *&'2&0 - &88)'*0 =)4'
. +,-+7+-4 <4+ .( 04+*

+' *
( 8)'2(*+), =&4* B*'& 5),K4& 5)22& 4, =')5&0040 (,(.901 &, *&'2&0 -&
090*32& -(,0 .&<4&. -&0 '&00)4'5&0 0),* 4*+.+01&0 =)4' '1(.+0&' -&0 (5*+7+*10 <4+ &,*'(E,&'),*
-&0 '104.*(*0
&0 '&00)4'5&0 '&5)47'&,* . &,0&2/.& -&0 2)9&,0 2+0 &, O47'& F0&'7+5&0 -&
8)'2(*+), 0(.(+'& -&0 8)'210 &* -&0 8)'2(*&4'0 +,*&',&0 &*5 G .&0 (5*+7+*10 -& 8)'2(*+),
+,5.4&,* .&0 2(*1'+(4C 4*+.+010 =)4' .( 8)'2(*+), .&0 2(*1'+&.0 =1-(;);+<4&0 . )';(,+0(*+), -&
.( 8)'2(*+), ,8+, .&0 (5*+),0 -& 8)'2(*+), ),* =)4' '104.*(*0 -&0 5:(,;&2&,*0 -&
5)2=)'*&2&,*0 -&0 8)'210 -&0 (55')+00&2&,*0 -& =')-45*+), &*5 17(.4(*+), -& 5&0
'104.*(*0 0& 8&'( @ . (+-& -& 5'+*3'&0 - &88+5+&,5& 0)+* 15),)2+<4&0 F5)2=('(+0), -&0 5)6*0
&,;(;10 (4C '104.*(*0 &,'&;+0*'10G 0)+* 0)5+(4C F(55')+00&2&,* -& .( 0(*+08(5*+), -&0 0(.('+10
-+2+,4*+), -4 *4',>)7&' &*5 G 0)+* *&5:,+<4&0 F(55')+00&2&,* -& .( <4(.+*1 -& .( =')-45*+),
&*5 G
,& (,(.90& =.40 8+,& &0* 5&=&,-(,* ,15&00(+'& =)4' 17(.4&' .&0 '104.*(*0 &, *&,(,*
5)2=*& -&0 5('(5*1'+0*+<4&0 -4 =')5&0040 -& 8)'2(*+),
& =')5&0040 =&4* B*'& -15)2=)01 &, 4,& 01'+& - 1*(=&0 <4+ '&5)47'&,*
> &54&+. &* -18+,+*+), -&0 /&0)+,0 N
> 18+,+*+), -&0 )/I&5*+80 N
> 1.&5*+), -&0 =&'0),,&0 @ 8)'2&' N
> 18+,+*+), -&0 =');'(22&0 N
> :)+C -&0 8)'2(*&4'0 N
> 5*+7+*10 -& 8)'2(*+), N
> 7(.4(*+), -&0 '104.*(0

• ' )'-1'%/ ,'+ 2'+#%&+


&0* *:1)'+<4&2&,* &, 8),5*+), -&0 )/I&5*+80 -& . &,*'&='+0& &* -&0 0&'7+5&0 <4&
-&7'(+&,* B*'& -18+,+0 .&0 /&0)+,0 &4C>5+ =&47&,* B*'& '&54&+..+0 =(' -+7&'0&0 =')51-4'&0
15'+*&0 F<4&0*+),,(+'&0 8)'24.(+'&0G &* )'(.&0 F&,*'&*+&,0 (4='30 -& .( :+1'('5:+& &* -&0
+,*1'&0010G & '&54&+. -&0 /&0)+,0 -&7'(+* B*'& 1*(/.+ &, 8),5*+), -&0 )/I&5*+80 =)4'04+7+0 (4
,+7&(4 -& 5:(<4& 0&'7+5& 2(+0 1;(.&2&,* &, *&,(,* 5)2=*& -& . (=='15+(*+), -&0
=&'8)'2(,5&0 =(001&0 &* -&0 =)*&,*+&.0 -& 5:(<4& =&'0),,&

• 4 ,6(%&%$%#& ,'+ #23'-$%(+


)4* =');'(22& -& 8)'2(*+), -&7'(+* ='15+0&' -&0 )/I&5*+80 5 &0*>@>-+'& .&0 =)+,*0 @
(21.+)'&' (+,0+ <4& .&0 5'+*3'&0 =&'2&**(,* -& I4;&' -& . &88+5(5+*1 -&0 (5*+),0 &,*'&='+0&0 .
8(4* <4& .&0 )/I&5*+80 0)+&,* 5.(+'0 ='15+0 <4(,*+8+10 -(,0 .( 2&04'& -4 =)00+/.& &*
(55&=*(/.&0 =(' .( -+'&5*+), &* .&0 0(.('+10 5),5&',10 *)4* &, 1*(,* 5):1'&,* (7&5 .( 0*'(*1;+&
;.)/(.&
&0 )/I&5*+80 =&47&,* -15)4.&' -& 0+*4(*+),0 5)22& .& 5:(,;&2&,* -& 0*'45*4'& .(
,)47&..& )';(,+0(*+), -4 *'(7(+. . (-(=*(*+), -& ,)47&..&0 *&5:,).);+&0 -4&0 @ . (5:(* - 4,
,)47&(4 2(*1'+&.

• 4 +6/'-$%#& ,'+ 5')+#&&'+ G (#)*')


..& 0& 8(+* &, *&,(,* 5)2=*& -&0 /&0)+,0 '&5&,010 2(+0 (400+ -&0 +2=1'(*+80 -4 0&'7+5&
&* -4 -10+' -&0 0(.('+10 -& 04+7'& 4,& 8)'2(*+),

• 6(%&%$%#& ,'+ 5)#8)4**'+


&4C>5+ 0),* 5),K40 @ =('*+' -&0 )/I&5*+80 (00+;,10 (4C (5*+),0 -& 8)'2(*+),
( -18+,+*+), -&0 =');'(22&0 =)'*& ,), 0&4.&2&,* 04' .& 5),*&,4 2(+0 (400+ 04' .(
.)5(.+0(*+), -&0 0*(;&0 &* 04' .&0 21*:)-&0 =1-(;);+<4&0 <4+ -)+7&,* B*'& (-(=*1&0 (4C =4/.+50
7+010

• ' -7#%; ,'+ (#)*4$'1)+


& 5:)+C =(00& - (/)'- =(' 5&.4+ - )';(,+02&0 -& 8)'2(*+), 0)+* =(' (==&. - )88'&0
0)+* =(' 5),*(5* -+'&5* &,*'& . 4, - &,*'& &4C &* .& '&0=),0(/.& -& .( 8)'2(*+),
&0 8)'2(*&4'0 0&'),* -&0 0=15+(.+0*&0 -4 5),*&,4 @ *'(,02&**'& ='(*+<4(,* .( 21*:)-&
=1-(;);+<4& 5:)+0+& (7&5 045530 &* (9(,* . :(/+*4-& -4 *9=& - (4-+*)+'& (4<4&. (==('*+&,* .&0
=&'0),,&0 @ 8)'2&'

• 4-$%:%$6 ,' (#)*4$%#&


..& '&5)47'& .&0 -+7&'0&0 =:(0&0 -4 595.& - (=='&,*+00(;& &, 04+7(,* -&0 =')51-4'&0
=1-(;);+<4&0 &* &, 4*+.+0(,* -&0 2(*1'+(4C -(,0 .&0 .)5(4C 0+*410 &, -&:)'0 -4 .+&4 -& *'(7(+.
=)4' 4,& -4'1& 0=15+8+1& &* @ 4, 5)6* ;1,1'(.&2&,* -1*&'2+,1 - (7(,5&

• '+ )6+1/$4$+ ,' /4 (#)*4$%#&


&0 -+7&'0 '104.*(*0 -& .( 8)'2(*+), -)+7&,* B*'& /+&, -+0*+,;410 5(' 5:(54, -)+* 8(+'&
. )/I&* -& 5'+*3'&0 0=15+8+<4&0 - 17(.4(*+),

:(,;&2&,* -& :(,;&2&,*0 -&


1(5*+),0 =='&,*+00(;& 5)2=)'*&2&,* =&'8)'2(,5&
& ='&2+&' '104.*(* &,'&;+0*'1 &0* 5),0*+*41 =(' .&0 '1(5*+),0 -&0 8)'210 -4'(,* &* I40*&
(='30 . (5*+), -& 8)'2(*+), 7+0>@>7+0 -4 8)'2(*&4' -& .( 8)'2(*+), &..&>2B2& -& .( 0+*4(*+),
&* -&0 (4*'&0 8)'210
(5<4+0+*+), -&0 5),,(+00(,5&0 - (=*+*4-&0 )4 - (**+*4-&0 &0* 17(.41& (4 2)9&, -&
*&0*0 =(0010 (7(,* &* (='30 . (5*+), -& 8)'2(*+), =)4' 5),0*(*&' -&0 15('*0 &* 17(.4&' .&0
'104.*(*0 +221-+(*0 -& . (=='&,*+00(;&
)'0<4& .( =&'0),,& 8)'21& '&7+&,* 04' 0), .+&4 -& *'(7(+. -&0 5:(,;&2&,*0 -&
5)2=)'*&2&,* =&47&,* B*'& )/0&'710 ,)*(22&,* =(' .( :+1'('5:+& (=='15+(*+), -& 5&0
5:(,;&2&,*0 &0* ;1,1'(.&2&,* 8(+*& -& *')+0 @ 0+C 2)+0 7)+'& 4, (, (='30 . (5*+), -&
8)'2(*+),
& -&',+&' '104.*(* =)00+/.& -& .( 8)'2(*+), &0* .& 5:(,;&2&,* -& =&'8)'2(,5&0 -(,0 .&
*'(7(+. <4+ =&4* B*'& (=='15+1 @ . (+-& - +,-+5(*&4'0 <4(,*+*(*+80 F(55')+00&2&,* -& .(
=')-45*+7+*1 .( -+2+,4*+), -& . (/0&,*1+02& &*5 G &* <4(.+*(*+80 F(21.+)'(*+), -&0
5)224,+5(*+),0 -+2+,4*+), -&0 5),8.+*0 &*5 G
&0 '104.*(*0 /'4*0 =&47&,* -1=&,-'& -& 24.*+=.&0 8(5*&4'0 . (4-+*&4' &, 8&'( 4,&
(,(.90& =)4' 17(.4&' .&4' &88+5+&,5& &* .&4' &88+5(5+*1

1 !
)22& -(,0 *)4* (4-+* . (,(.90& -&0 '104.*(*0 +2=.+<4& (4 ='1(.(/.& .& '&54&+. -&0
+,8)'2(*+),0 =&'*+,&,*&0 -),* +. 5),7+&,-'( - (=='15+&' .( 8+(/+.+*1 & , &0* <4 &,04+*& <4&
. (4-+*&4' =)4''( -'&00&' 4, 5),0*(* -& .( 0+*4(*+),

) * !
(4-+*&4' 5)22&,5&'( =(' '14,+' -+7&'0 -)542&,*0 (9(,* *'(+* @ .( 8)'2(*+), F=.(, -&
8)'2(*+), (7+0 -4 )2+*1 - ,*'&='+0& 5(*(.);4& -&0 (5*+),0 -& 8)'2(*+), &* -)00+&'0
=1-(;);+<4&0 .&0 8+5:&0 - (=='15+(*+), &* .&0 -)00+&'0 +,-+7+-4&.0 &*5 G
. 5)2=('&'( .&0 -+881'&,*0 -)542&,*0 (8+, -& 5),0*(*&' 0+ .&0 -1=&,0&0 &,'&;+0*'1&0
5)''&0=),-&,* /+&, (4C '104.*(*0 & 5),0*(* -& .( 5),5)'-(,5& -&0 -+7&'0 -)542&,*0 =&'2&*
17&,*4&..&2&,* -& 5)''+;&' -&0 &''&4'0 -4&0 (4 8(+* <4& -+881'&,*0 0&'7+5&0 F5)2=*(/+.+*1
-1=('*&2&,* -& =&'0),,&. &*5 G .&0 1*(/.+00&,* @ =('*+' -& 0)4'5&0 <4+ .&4'0 0),* =')='&

+' *
05'+ ,' -#@$+ #1)-' , %&(#)*4$%#&
)6*0 8+C&0 =)4' . &,*'&='+0&
> )6* -4 0&'7+5& 8)'2(*+), F G 4-;&* 0&'7+5& 8)'2(*+),
> )5(4C )2=*(/+.+*1
> (*1'+&. F(2)'*+00&2&,*G )2=*(/+.+*1
> *(/.+00&2&,* -& =');'(22&0
> +8840+), )6*
> &54&+. -&0 /&0)+,0 +1'('5:+& =)4' . 17(.4(*+),
-4 *&2=0 =(001 -(,0 .& '&54&+.
&* . (,(.90& -&0 /&0)+,0
)6*0 .1;(4C +'&5*+), -4 =&'0),,&.
> )6*0 '14,+),0 5)22+00+), 8)'2(*+), 4-;&*
> )6* +,8)'2(*+), )/.+;(*)+'&
)6*0 -+'&5*0 -& 8)'2(*+),
> )6*0 8+C&0 - 4, =');'(22& )2=*(/+.+*1
> )6*0 7('+(/.&0 - 4, =');'(22& F'124,1'(*+), "')-45*+),
-&0 8)'210 -1=.(5&2&,* :1/&';&2&,*G )2=*(/+.+*1
)6*0 +,-+'&5*0
> (+00& -& =')-45*+), -4& @ . (/0&,5& -4 8)'21
> &2=.(5&2&,* 17&,*4&. =(' :&4'&0 +'&5*+), -4 =&'0),,&.
04==.12&,*(+'&0 N &2/(45:&
> )6*0 (-2+,+0*'(*+80 F*&,4& &* *'(+*&2&,* -&0
-)00+&'0G

=('*+' -&0 +,8)'2(*+),0 '&54&+..+&0 4, 5),0*(* =)4''( B*'& 1*(/.+ =)4' -1*&'2+,&' -&0
15('*0 =(' '(==)'* (4C )/I&5*+80 (4C =')51-4'&0 &* (,(.90&' . &88+5(5+*1 &* . &88+5+&,5& -&0
(5*+),0 -& 8)'2(*+),

• )6+'&$4$%#& ,'+ )6+1/$4$+


&0 '104.*(*0 -& .( 8)'2(*+), =&47&,* B*'& 5.(0010 0&.), -+881'&,*0 5'+*3'&0 *&.0 <4& .&0
/1,18+5+(+'&0 -& (5*+),0 -& 8)'2(*+), .& *9=& -& 8)'2(*+), . )'+;+,& -&0 8)'2(*&4'0 .( -4'1&
&* .& 5)6* -&0 8)'2(*+),0 .&4' +2=(5* @ 5)4'* )4 2)9&, *&'2&
• 6$')*%&4$%#& ,'+ -#@$+
&0 5)6*0 -& .( 8)'2(*+), 5),5&',&,* *)4*&0 .&0 -1=&,0&0 04==)'*1&0 =(' . &,*'&='+0&
5)22& 5),01<4&,5&0 -& . (5*+7+*1 -& 8)'2(*+),
".40+&4'0 5.(00+8+5(*+),0 -&0 5)6*0 =&47&,* B*'& '&*&,4&0 5)6* 8+C& )4 -& 0*'45*4'& S
5)6* 7('+(/.& )4 =')=)'*+),,&. 5)6*0 .1;(4C 5)6*0 -+'&5*0 S 5)6*0 +,-+'&5*0

,' * / ! '
&0 =')/.32&0 =)*&,*+&.0 0&'),* -1*&'2+,10 =(' .&0 15('*0 &,*'& .( 7(.&4' -&0
+,-+5(*&4'0 '&*&,40 &* 5&..& -&0 ,)'2&0 .1;(.&0 )4 5),7&,*+),,&..&0 &* 5&..&0 =(001&0 -&0
+,-+5(*&4'0 '&*&,40 )4 =(' 5)2=('(+0), (7&5 .&0 )/I&5*+80

• 1,%$ ,' -#&(#)*%$6 /684/'


(4-+* -& 5),8)'2+*1 .1;(.& 0&'( '1(.+01 &, 5)2=('(,* .&0 '104.*(*0 )/*&,40 &* .&0
=')51-4'&0 04+7+&0 (4C )/.+;(*+),0 .1;(.&0 &* 5),7&,*+),,&..&0 ")4' 5& 8(+'& . (4-+*&4' (4'(
+,*1'B* @ 0& '&=)'*&' (4C ='+,5+=(4C *&C*&0 .1;(4C 04' .( 8)'2(*+),

• :4/14$%#& ,' / '((%-4-%$6


")4' (,(.90&' .&0 '104.*(*0 &, *&'2& - &88+5+&,5& &* - &88+5(5+*1 . (4-+*&4' -+0=)0& - 4,
5&'*(+, ,)2/'& - +,-+5(*&4'0
(,(.90& -&0 '104.*(*0 -&0 -+881'&,*&0 (5*+),0 -& 8)'2(*+), &, *&'2&0 - &88+5+&,5& &*
- &88+5(5+*1 =)4''( 0& 8(+'& - (/)'- (4 ,+7&(4 ;.)/(. &,04+*& =)4' 5&'*(+,0 =');'(22&0
=('*+54.+&'0

6:4/14$%#& 8/#24/' . &88+5+&,5& *&5:,+<4& 0&'( I4;1& (4 74 -& . (55')+00&2&,* -&


.( =')-45*+), &* -& 5&..& -& .( <4(.+*1 '104.*(,* -& . (21.+)'(*+), -&0 5),,(+00(,5&0 (=*+*4-&0
&* (**+*4-&0 7+01&0 =(' .&0 -+881'&,*0 =');'(22&0 -& 8)'2(*+), +,0+ . (21.+)'(*+), -& .(
=')-45*+7+*1 .( -+2+,4*+), -&0 '15.(2(*+),0 -&0 5.+&,*0 .( -+2+,4*+), -&0 '&*('-0 -& .+7'(+0),
0),* (4*(,* - &C&2=.&0 - +,-+5(*&4'0 <4+ =&47&,* B*'& '&*&,40 =)4' 17(.4&' . &88+5+&,5&
*&5:,+<4& -& . (5*+), -& 8)'2(*+),
&88+5+&,5& 15),)2+<4& =&4* B*'& (=='15+1& =(' .( 5)2=('(+0), &,*'& .&0 5)6*0 -&0
(5*+),0 -& 8)'2(*+), &* .&0 /1,18+5&0 <4+ &, 0),* '&*+'10
&88+5+&,5& 0)5+(.& 17(.41& @ =('*+' -& .( 0(*+08(5*+), -&0 0(.('+10 5),5&',(,* .&0
(5*+),0 -& 8)'2(*+), 2(+0 04'*)4* -&0 '104.*(*0 &, *&'2&0 - (21.+)'(*+), -4 5.+2(* 0)5+(.
=)47(,* B*'& 5),0*(*10 +,-+'&5*&2&,* =(' -&0 /(+00&0 -4 *4',>)7&' -& . (/0&,*1+02&
&*5 &* -&0 =')2)*+),0 '1400+&0 (='30 .( 8)'2(*+),
&0* &, 8),5*+), -& . (**&+,*& -&0 )/I&5*+80 '1&.0 (00+;,10 @ .( 8)'2(*+), 2(+0
1;(.&2&,* -&0 '104.*(*0 5),0*(*10 &, *&'2& -& 5)6*0 &* - &88+5+&,5&0 *&5:,+<4& &* 0)5+(.& <4&
=)4''( B*'& (=='15+1& . &88+5(5+*1 -& .( 8)'2(*+),

6$')*%&4$%#& ,'+ 5)#8)4**'+ G 41,%$') . (,(.90& -&0 -+881'&,*0 *9=&0 -&


=');'(22& =)4''( 8(+'& (==('(E*'& -&0 -+0=')=)'*+),0 &,*'& .&4'0 5)6*0 &* .( =&'8)'2(,5& <4+
&, '104.*& & 5:)+C -& =');'(22&0 @ (4-+*&' =)4''( B*'& -1*&'2+,1 =(' .( 5)2=('(+0), -& 5&0
-&4C 5'+*3'&0 0&.), 4,& 21*:)-& =')=)01& =(' %
..& 04==)0& <4 4, '(,; -& 5.(00&2&,* 0)+* - (/)'- (00+;,1 (4C -+881'&,*0 =');'(22&0
=(' -+7&'0 2&2/'&0 -& .( :+1'('5:+& &* -& .( -+'&5*+), 5&**& *A5:& '&.(*+7&2&,* 04/I&5*+7&
+2=.+<4& .( =('*+5+=(*+), -&0 =&'0),,&0 '&0=),0(/.&0 , )/*+&,-'( (+,0+ 4,& 01'+& -&
5.(00&2&,*0 <4 +. 0&'( ,15&00(+'& -& '1-4+'& &, 4, 0&4. &, 8(+0(,* .&0 2)9&,,&0 -&0 '(,;0
)/*&,40 =)4' 5:(<4& =');'(22& , -&4C+32& *9=& -& 5.(00&2&,* =)4''( B*'& 1*(/.+ @ =('*+'
&'
-&0 5)6*0 -& 5:(54, -&0 =');'(22&0 ), (00+;,&'( .& '(,; (4 =');'(22& 5)6*(,* .& =.40
5:&' &* (+,0+ -& 04+*& =(' )'-'& -15')+00(,* &0 '104.*(*0 -&0 -&4C 5.(00&2&,*0 F=(' )'-'&
- +2=)'*(,5& &0*+21& =)4' . &,*'&='+0& &* =(' 5)6*0G 0&'),* (--+*+),,10 =)4' 5:(<4&
=');'(22& (8+, - )/*&,+' 4, 5.(00&2&,* =),-1'1 -&0 ;(+,0 =)*&,*+&.0 =)4' . &,*'&='+0& =.40
.& 5:+88'& )/*&,4 &, (I)4*(,* .& '(,; -&0 5)6*0 &* 5&.4+ -& .( J 7(.&4' M &0*+21& =)4'
. &,*'&='+0& =)4' 5:(<4& =');'(22& 0&'( 8(+/.& =.40 .&0 ;(+,0 =)*&,*+&.0 0&'),* +2=)'*(,*0
& 0),* .&0 =');'(22&0 <4+ ='10&,*&,* .&0 5.(00&2&,*0 .&0 =.40 1.&710 =)4' .&0 ;(+,0
=)*&,*+&.0 <4+ 0&'),* '&*&,40 =)4' . 17(.4(*+), (8+, -& 7)+' 0+ .( 8)'2(*+), ( &4 4, +2=(5*
=)0+*+8 04' .( =&'8)'2(,5& -(,0 .& *'(7(+.

0
+-&,*+8+5(*+), -&0 =')/.32&0 @ =('*+' -4 5),0*(* -&0 15('*0 &,*'& .( 7(.&4' -&0
+,-+5(*&4'0 &* -&0 ,)'2&0 '&*&,40 -)+* B*'& =)4'04+7+& =(' 4,& (,(.90& -&0 5(40&0 &* -&0
5),01<4&,5&0 ")4' -1*&'2+,&' .&0 71'+*(/.&0 5(40&0 -&0 =')/.32&0 . (4-+*&4' 4*+.+0&'( .&0
*&5:,+<4&0 - (,(.90& -& 5):1'&,5&0 &* - ('/'& -&0 5(40&0 =&'2&**(,* - (/)4*+' @ -&0
'&5)22(,-(*+),0
) */ ! %
(,(.90& -&0 5):1'&,5&0 &0* 4,& *&5:,+<4& <4+ =&'2&* -& 71'+8+&' . (-1<4(*+), - 4,
1.12&,* =(' '(==)'* @ - (4*'&0 ..& =&4* 0 (==.+<4&' (4C .+(+0),0 &,*'& =')51-4'&0 '104.*(*0 &*
)/I&5*+80 -& .( 8)'2(*+), &* -(,0 5& 5(0 ), =&4* .( -18+,+' 5)22& 4,& 5):1'&,5& +,*&',& @
5&**& 8),5*+), N &..& =&4* B*'& 4*+.+01& =)4' 1*4-+&' . 1*(* -&0 '&.(*+),0 &,*'& .&0 1.12&,*0
5),0*+*4*+80 -& .( 8)'2(*+), &* - 4,& =('* .&0 (4*'&0 8),5*+),0 -& =&'0),,&. - (4*'& =('* .&0
-+7&'0&0 =).+*+<4&0 -& . &,*'&='+0& &* 0( 0*'(*1;+& ;.)/(.& +. 0 (;+'( (.)'0 -& 5):1'&,5& &C*&',&

• 4&4/0+' ,'+ -#76)'&-'+ %&$')&'+


..& 0& 8&'( @ =('*+' - 4,& 2(*'+5& )H 8+;4'&,* &, .+;,&0 &* &, 5).),,&0 .&0 -+881'&,*&0
1*(=&0 -4 =')5&0040 -& 8)'2(*+), &,7+0(;1&0 0)40 8)'2& -& =')51-4'& &* -& ='(*+<4&

"'(*+<4&0 &* =')51-4'&0 %

&54&+. &* -18+,+*+), -&0 /&0)+,0


18+,+*+), -&0 )/I&5*+80
1.&5*+), -&0 =&'0),,&0 @ 8)'2&'
18+,+*+), -&0 =');'(22&0
:)+C -&0 8)'2(*&4'0
5*+7+*10 -& 8)'2(*+),
% 7(.4(*+), -&0 '104.*(0

(,(.90& -& 5):1'&,5& +,*&',& =&'2&* -& '1=),-'& (4C <4&0*+),0 .& '104.*(* =)47(+*>
+. B*'& (**&+,* =(' .&0 =')51-4'&0 (5*4&..&0 L .&0 )/I&5*+80 (**&+,*0 1*(+&,*>+.0 '1&..&2&,* 5&4C
<4 +. 8(..(+* 7+0&' 5)2=*& *&,4 -&0 =).+*+<4&0 &* 0*'(*1;+&0 7+01&0 =(' . &,*'&='+0& L

• 4&4/0+' ,'+ -#76)'&-'+ ';$')&'+


..& 0 17(.4&'( @ =('*+' -&0 '104.*(*0 -& .( 8)'2(*+), - 4,& =('* &* - (4*'& =('* .&0
=).+*+<4&0 &* =')51-4'&0 (-)=*1&0 -(,0 .&0 (4*'&0 8),5*+),0 -& =&'0),,&. .( 0*'(*1;+& -&
=&'0),,&. -(,0 0), &,0&2/.& .&0 =).+*+<4&0 &* 0*'(*1;+&0 )/0&'71&0 -(,0 .&0 (4*'&0 8),5*+),0
-& . &,*'&='+0& (+,0+ <4& 0( 0*'(*1;+& ;.)/(.&
&0 (,(.90&0 -& 5):1'&,5& &C*&',&0 ,& 0),* ,+ 8(5+.&0 ,+ '(=+-&0 N &..&0
,15&00+*&,* -&0 5),,(+00(,5&0 (==')8),-+&0 ,), 0&4.&2&,* -& .( 8)'2(*+), 2(+0 1;(.&2&,*
-& . &,0&2/.& -& .( ;&0*+), -4 =&'0),,&. -(,0 . &,*'&='+0& &* -&0 -+881'&,*&0 =).+*+<4&0
=)4'04+7+&0

+' * 1
( 2+0& &, 17+-&,5& -&0 -+881'&,*0 =')/.32&0 &* -&0 '+0<4&0 -(,0 .( 8)'2(*+), &* -&
.&4'0 5(40&0 =&'2&* - (/)4*+' @ .( -&',+3'& 1*(=& -& . (4-+* <4+ &0* 5&..& -&0
'&5)22(,-(*+),0 -& 0).4*+),0
, ('/'& -&0 5(40&0 =)4''( B*'& 5),0*'4+* &, =('*(,* -&0 '104.*(*0 )/0&'710 &* &,
'&2),*(,* .( 5:(E,& -&0 171,&2&,*0
+,0+ .( ,),>5),8)'2+*1 .1;(.& =&4* '104.*&' - 4,& +,)/0&'7(*+), -&0 =')51-4'&0
- 4,& (/0&,5& - +,8)'2(*+), 5):1'&,*& - 4, -10+,*1'B* -& .( :+1'('5:+& &* -& .( -+'&5*+), &
2B2& .& 2(,<4& -& 8)'2(*+), =)4' 5&'*(+,&0 5(*1;)'+&0 -& =&'0),,&. =&4* B*'& -6 0)+* @ 4,&
7).),*1 -1.+/1'1& 0)+* @ 4,& (/0&,5& -& =')51-4'& -& '&54&+. -&0 /&0)+,0 &0 5(40&0 -&0
-+881'&,*0 =')/.32&0 =)4''),* B*'& :+1'('5:+01&0 &, *&,(,* 5)2=*& -& . (7+0 -&0 ='+,5+=(4C
'&0=),0(/.&0 &* -1/)45:&' 04' 4,& 01'+& -& '&5)22(,-(*+),0 -& 0).4*+),0
& 5:)+C -&0 0).4*+),0 0&'( 8),5*+), -& .&4' 5)6* -& 2+0& &, O47'& -& .&4' 8(+0(/+.+*1
&* -&0 )/I&5*+80 7+010 =(' . &,*'&='+0&
, 5(.&,-'+&' -& .( 2+0& &, O47'& -)+* B*'& 1*(/.+ (7&5 . +,-+5(*+), -&0 )/I&5*+80 @
(**&+,-'& -4 ,)2 -4 '&0=),0(/.& -& . (5*+), &* 17&,*4&..&2&,* -4 5)6* -& 5&**& 2+0& &,
O47'&
%
+ .&0 )47'(;&0 &C5.40+7&2&,* 5),0(5'10 @ 5& 04I&* 0),* =&4 ,)2/'&4C &,
'&7(,5:& .&0 )88'&0 -& 0&'7+5& (/),-&,* (9 (,(;&2&,*
)8'&25( '&-)5 0)= &0&2 &'< &* 2B2& .&0 +,0*+*4*0 -& 0),-(;& =0)0 )4
.( )8'&0 =')=)0&,* -&0 (4-+*0 -4 5.+2(* 0)5+(. &'*(+,0 -& 5&0 )';(,+02&0
)88'&,* - (..&' (4-&.@ -4 0+2=.& (4-+* =),5*4&. &, J 04'7&+..(,* M .&0 *&,-(,5&0
- 17).4*+), -&0 )=+,+),0 @ =('*+' - +,*&');(*+),0 =1'+)-+<4&0 - 4, =(,&. -&
0(.('+10
+2=)'*(,5& -& . )88'& *12)+;,& -& . +2=)'*(,5& -& .( -&2(,-& ,5)'&
5),7+&,*>+. - (I)4*&' 4, ,)2/'& +2=)'*(,* - &,*'&='+0&0 <4+ '1(.+0&,*
'1;4.+3'&2&,* -&0 (4-+*0 -& 5.+2(*0 0)5+(. 0)40 8)'2& - (4-+* +,*&',&

4 (')5 . (4-+* 0)5+(. ( 74 .& I)4' +. 9 ( 4,& -+W(+,& - (,,1&0 2(+0 ,&
0&2/.& =(0 =&'5&' -(,0 .& 0&5*&4' -&0 '&00)4'5&0 :42(+,&0 &,5)'& 5),0+-1'1
5)22& .& =('&,* =(47'& (4 0&+, -& . &,*'&='+0&

(''+71& -& . ,0*+*4* ,*&',(*+),(. - 4-+* )5+(. F G (4 (')5 &,


(+-&'( @ . 17+-&,5& 5& 5),5&=* @ 0& 5),5'1*+0&' -(7(,*(;& . '&0*& @
-17&.)==&' .( 5)224,+5(*+), &* .( 74.;('+0(*+), -& 5& 2)-& - 17(.4(*+),
&'

♠ 4-+* 0)5+(.
1'+& 4& 0(+0>I& L

♠ &00)4'5&0 :42(+,&0
&(,> ('+& "

♠ 4-+* -&0 &00)4'5&0 42(+,&0


%

♠ 4-+* 0)5+(. 21*:)-&0 &* *&5:,+<4&0 =)4' 4, 2(,(;&2&,* &88+5(5&


" (,-(4

('
♠ UUU 2(,(;&2&,* 8'&& 8'

Вам также может понравиться